# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001193125-25-155548
**Filing Date:** 2025-7
**Character Count:** 5520914
**Document Hash:** dc8f617e23ab24a59cfa3ecab45a7a92
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-155548.hdr.sgml**: 20250703

**ACCESSION NUMBER**: 0001193125-25-155548

**CONFORMED SUBMISSION TYPE**: N-CSR/A

**PUBLIC DOCUMENT COUNT**: 93

**CONFORMED PERIOD OF REPORT**: 20241031

**FILED AS OF DATE**: 20250703

**DATE AS OF CHANGE**: 20250703

**EFFECTIVENESS DATE**: 20250703

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663

**ORGANIZATION NAME:**
- **EIN:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251106427

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISHARES TRUST
- **DATE OF NAME CHANGE:** 19991213

## Series and Classes Contracts Data

### iShares J.P. Morgan USD Emerging Markets Bond ETF (Series ID: S000019798)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000055529 | iShares J.P. Morgan USD Emerging Markets Bond ETF | EMB             |

### iShares International Treasury Bond ETF (Series ID: S000023614)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000069477 | iShares International Treasury Bond ETF | IGOV            |

### iShares 1-3 Year International Treasury Bond ETF (Series ID: S000023615)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000069478 | iShares 1-3 Year International Treasury Bond ETF | ISHG            |

### iShares Floating Rate Bond ETF (Series ID: S000033136)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000102031 | iShares Floating Rate Bond ETF | FLOT            |

### iShares CMBS ETF (Series ID: S000035914)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000110079 | iShares CMBS ETF | CMBS            |

### iShares GNMA Bond ETF (Series ID: S000035915)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000110080 | iShares GNMA Bond ETF | GNMA            |

### iShares Aaa - A Rated Corporate Bond ETF (Series ID: S000035916)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000110081 | iShares Aaa - A Rated Corporate Bond ETF | QLTA            |

### iShares Core 1-5 Year USD Bond ETF (Series ID: S000038926)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000119711 | iShares Core 1-5 Year USD Bond ETF | ISTB            |

### iShares 0-5 Year High Yield Corporate Bond ETF (Series ID: S000042353)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000131291 | iShares 0-5 Year High Yield Corporate Bond ETF | SHYG            |

### iShares 0-5 Year Investment Grade Corporate Bond ETF (Series ID: S000042354)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000131292 | iShares 0-5 Year Investment Grade Corporate Bond ETF | SLQD            |

### iShares Treasury Floating Rate Bond ETF (Series ID: S000044143)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000137225 | iShares Treasury Floating Rate Bond ETF | TFLO            |

### iShares iBonds Dec 2024 Term Corporate ETF (Series ID: S000048152)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000152179 | iShares iBonds Dec 2024 Term Corporate ETF | IBDP            |

### iShares iBonds Dec 2025 Term Corporate ETF (Series ID: S000048153)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000152180 | iShares iBonds Dec 2025 Term Corporate ETF | IBDQ            |

### iShares Convertible Bond ETF (Series ID: S000048637)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000153287 | iShares Convertible Bond ETF | ICVT            |

### iShares Core International Aggregate Bond ETF (Series ID: S000051261)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000161648 | iShares Core International Aggregate Bond ETF | IAGG            |

### iShares ESG Advanced High Yield Corporate Bond ETF (Series ID: S000054184)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000170245 | iShares ESG Advanced High Yield Corporate Bond ETF | HYXF            |

### iShares Fallen Angels USD Bond ETF (Series ID: S000054186)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000170247 | iShares Fallen Angels USD Bond ETF | FALN            |

### iShares iBonds Dec 2026 Term Corporate ETF (Series ID: S000055059)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000173141 | iShares iBonds Dec 2026 Term Corporate ETF | IBDR            |

### iShares iBonds Dec 2027 Term Corporate ETF (Series ID: S000058301)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000191091 | iShares iBonds Dec 2027 Term Corporate ETF | IBDS            |

### iShares Broad USD High Yield Corporate Bond ETF (Series ID: S000059297)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000194633 | iShares Broad USD High Yield Corporate Bond ETF | USHY            |

### iShares U.S. Fixed Income Balanced Risk Systematic ETF (Series ID: S000060088)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000196720 | iShares U.S. Fixed Income Balanced Risk Systematic ETF | FIBR            |

### iShares iBonds Dec 2028 Term Corporate ETF (Series ID: S000063041)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000204503 | iShares iBonds Dec 2028 Term Corporate ETF | IBDT            |

### iShares BB Rated Corporate Bond ETF (Series ID: S000063139)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000204721 | iShares BB Rated Corporate Bond ETF | HYBB            |

### iShares USD Green Bond ETF (Series ID: S000063466)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000205645 | iShares USD Green Bond ETF | BGRN            |

### iShares iBonds 2024 Term High Yield and Income ETF (Series ID: S000065343)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000211402 | iShares iBonds 2024 Term High Yield and Income ETF | IBHD            |

### iShares iBonds 2025 Term High Yield and Income ETF (Series ID: S000065345)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000211404 | iShares iBonds 2025 Term High Yield and Income ETF | IBHE            |

### iShares iBonds Dec 2029 Term Corporate ETF (Series ID: S000066401)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000214263 | iShares iBonds Dec 2029 Term Corporate ETF | IBDU            |

### iShares iBonds Dec 2030 Term Corporate ETF (Series ID: S000068777)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000219751 | iShares iBonds Dec 2030 Term Corporate ETF | IBDV            |

### iShares iBonds 2026 Term High Yield and Income ETF (Series ID: S000069852)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000222633 | iShares iBonds 2026 Term High Yield and Income ETF | IBHF            |

### iShares iBonds Dec 2031 Term Corporate ETF (Series ID: S000072204)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000228040 | iShares iBonds Dec 2031 Term Corporate ETF | IBDW            |

### iShares iBonds 2027 Term High Yield and Income ETF (Series ID: S000072335)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000228465 | iShares iBonds 2027 Term High Yield and Income ETF | IBHG            |

### iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (Series ID: S000076777)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000236812 | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | TLTW            |

### iShares High Yield Corporate Bond BuyWrite Strategy ETF (Series ID: S000076779)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000236814 | iShares High Yield Corporate Bond BuyWrite Strategy ETF | HYGW            |

### iShares Investment Grade Corporate Bond BuyWrite Strategy ETF (Series ID: S000076781)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000236816 | iShares Investment Grade Corporate Bond BuyWrite Strategy ETF | LQDW            |

### iShares J.P. Morgan Broad USD Emerging Markets Bond ETF (Series ID: S000077383)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000237776 | iShares J.P. Morgan Broad USD Emerging Markets Bond ETF | BEMB            |

### iShares Russell 2000 BuyWrite ETF (Series ID: S000083814)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000247831 | iShares Russell 2000 BuyWrite ETF | IWMW            |

### iShares S&P 500 BuyWrite ETF (Series ID: S000083815)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000247832 | iShares S&P 500 BuyWrite ETF | IVVW            |

### iShares iBonds 2031 Term High Yield and Income ETF (Series ID: S000085094)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000249959 | iShares iBonds 2031 Term High Yield and Income ETF | IBHK            |

### iShares iBonds Dec 2030 Term Muni Bond ETF (Series ID: S000085095)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000249960 | iShares iBonds Dec 2030 Term Muni Bond ETF | IBMS            |

### iShares iBonds Dec 2034 Term Corporate ETF (Series ID: S000085096)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000249961 | iShares iBonds Dec 2034 Term Corporate ETF | IBDZ            |

### iShares iBonds Oct 2034 Term TIPS ETF (Series ID: S000085097)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000249962 | iShares iBonds Oct 2034 Term TIPS ETF | IBIK            |

### iShares iBonds Dec 2034 Term Treasury ETF (Series ID: S000085229)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000250196 | iShares iBonds Dec 2034 Term Treasury ETF | IBTP            |

### iShares iBonds Dec 2044 Term Treasury ETF (Series ID: S000085230)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000250197 | iShares iBonds Dec 2044 Term Treasury ETF | IBGA            |

### iShares iBonds Dec 2054 Term Treasury ETF (Series ID: S000085232)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000250199 | iShares iBonds Dec 2054 Term Treasury ETF | IBGK            |

?xml version='1.0' encoding='ASCII'? iShares Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

#### FORM N-CSR/A

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number:

811-09729

Name of Fund:

iShares Trust

Fund Address: c/o BlackRock Fund Advisors, 400 Howard Street, San Francisco, CA 94105

Name and address of agent for service: The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801

Registrant's telephone number, including area code:

&nbsp;&nbsp;&nbsp;&nbsp;(415) 670-2000

Date of fiscal year end:

10/31/2024

Date of reporting period:

10/31/2024

Item 1 — Report to Stockholders

**Explanatory Note:** The Registrant is filing this amendment to its Form N-CSR for the period ended October 31, 2024, filed with the Securities and Exchange Commission on January 3, 2025 (Accession Number 0001193125-25-001344). The sole purpose of this amendment is to update the JPM Emerging Market Bond Index and related returns to the J.P. Morgan EMBI Global Diversified Index. Except for such change, this amendment does not amend, update or change any other items or disclosures found in the original Form N-CSR filing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is attached herewith

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares 0-5 Year High Yield Corporate Bond ETF

### SHYG \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares 0-5 Year High Yield Corporate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares 0-5 Year High Yield Corporate Bond ETF | $33 | 0.31% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 13.78%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Markit iBoxx<sup>®</sup> USD Liquid High Yield 0-5 Index returned 13.93%. 

What contributed to performance?

Short-term high yield bonds were supported during the reporting period by an environment of slowing pricing pressures and steady growth, including the first rate cut by the U.S. Federal Reserve since March 2020. These issues also benefited from declining credit spreads (the difference in the yield between two bonds with similar maturities but different credit qualities) during the reporting period as fundamentals remained resilient. Consumer service bonds within the consumer cyclicals sector were the strongest contributors to the Fund's return. Within the communications sector, cable and satellite issues also supported performance. Within credit quality, all high yield rating buckets contributed positively to performance.

What detracted from performance?

There were no significant detractors to the Fund's performance during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454178.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 13.78% | 4.39% | 4.20% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Markit iBoxx<sup>®</sup> USD Liquid High Yield 0-5 Index | 13.93 | 4.73 | 4.53 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$6003505908 |
| Number of Portfolio Holdings | &nbsp;&nbsp;1092 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$17217617 |
| Portfolio Turnover Rate | &nbsp;&nbsp;36% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Baa | 0.8% |
| Ba | 35.9% |
| B | 45.0% |
| Caa | 14.7% |
| Ca | 1.2% |
| Not Rated | 2.4% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total<br>Investments*<sup>(a)</sup>* |
| 0-1 Year | 4.4% |
| 1-2 Years | 12.1% |
| 2-3 Years | 19.0% |
| 3-4 Years | 27.7% |
| 4-5 Years | 36.6% |
| 5-6 Years | 0.2% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, Markit Indices Limited and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares 0-5 Year High Yield Corporate Bond ETF

Annual Shareholder Report — October 31, 2024

SHYG-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares 0-5 Year Investment Grade Corporate Bond ETF

### SLQD \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares 0-5 Year Investment Grade Corporate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares 0-5 Year Investment Grade Corporate Bond ETF | $6 | 0.06% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 8.03%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Markit iBoxx<sup>®</sup> USD Liquid Investment Grade 0-5 Index returned 8.04%. 

What contributed to performance?

Bond returns were supported by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by a 50 basis point cut, its first rate reduction since March 2020. Investment-grade corporate bonds with short (zero to three years) to intermediate maturities (three to seven years)benefited from the decrease in yields over the period. The Fund's allocation to 0-5 year bonds contributed to its positive performance. In terms of credit quality, bonds rated A and Baa by Moody's, contributed the most to performance. Within sectors, banking aided returns, supported by the prospects of monetary easing.

What detracted from performance?

There were no meaningful detractors from the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454133.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 8.03% | 2.03% | 2.22% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Markit iBoxx<sup>®</sup> USD Liquid Investment Grade 0-5 Index | 8.04 | 2.06 | 2.28 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2116250805 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2675 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1291712 |
| Portfolio Turnover Rate | &nbsp;&nbsp;24% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Aaa | 1.9% |
| Aa | 6.8% |
| A | 46.7% |
| Baa | 41.4% |
| Ba | 2.1% |
| Not Rated | 1.1% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 0-1 Year | 18.0% |
| 1-5 Years | 81.9% |
| 5-10 Years | 0.1% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, Markit Indices Limited and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares 0-5 Year Investment Grade Corporate Bond ETF

Annual Shareholder Report — October 31, 2024

SLQD-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares 1-3 Year International Treasury Bond ETF

### ISHG \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares 1-3 Year International Treasury Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares 1-3 Year International Treasury Bond ETF | $36 | 0.35% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 6.52%. 

* For the same period, the FTSE World Broad Investment-Grade Bond Index returned 9.98% and the FTSE World Government Bond Index – Developed Markets 1-3 Years Capped Select Index returned 6.76%. 

What contributed to performance?

During the reporting period, short-term Treasury returns were supported by an environment of moderating inflationary pressures and stable economic growth. Amid worries about growth prospects, the European Central Bank cut rates three times, while the United States economy stayed strong, prompting the U.S. Federal Reserve Bank to wait until September before decreasing short-term interest rates for the first since 2020. Eurozone bonds were the Fund's top performers, led by Italian bonds, which benefited from the economic and fiscal approach of Italy's new government. French Treasury bonds also contributed. Bonds with maturities over 10 years, which are the most sensitive to interest rate changes, were also meaningful contributors.

What detracted from performance?

There were no significant detractors during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454377.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 6.52% | (1.62)% | (1.66)% |
| FTSE World Broad Investment-Grade Bond Index | 9.98 | (1.80) | 0.16 |
| FTSE World Government Bond Index – Developed Markets 1-3 Years Capped Select Index | 6.76 | (1.35) | (1.44) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$68083641 |
| Number of Portfolio Holdings | &nbsp;&nbsp;140 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$271498 |
| Portfolio Turnover Rate | &nbsp;&nbsp;77% |

---

The Fund has added the FTSE World Broad Investment-Grade Bond Index in response to new regulatory requirements.

The performance of the FTSE World Government Bond Index – Developed Markets 1-3 Years Capped Select Index in this report reflects the performance of the S&P International Sovereign Ex-U.S. 1-3 Year Bond Index through August 31, 2020 and, beginning on September 1, 2020, the performance of the FTSE World Government Bond Index – Developed Markets 1-3 Years Capped Select Index.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Aaa | 32.2% |
| Aa | 32.0% |
| A | 15.5% |
| Baa | 14.9% |
| Not Rated | 5.4% |

---

Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br> Investments<sup>(a)</sup>* |
| France | 11.7% |
| Italy | 10.6% |
| Japan | 9.9% |
| Germany | 8.7% |
| Spain | 6.3% |
| Netherlands | 4.7% |
| Singapore | 4.6% |
| Austria | 4.6% |
| Belgium | 4.6% |
| Australia | 4.5% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE Fixed Income LLC, S&P Dow Jones Indices LLC and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares 1-3 Year International Treasury Bond ETF

Annual Shareholder Report — October 31, 2024

ISHG-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

### TLTW \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | $21 | 0.20% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 8.56%. 

* For the same period, the ICE BofA US Broad Market Index returned 10.55% and the Cboe TLT 2% OTM BuyWrite Index returned 9.64%. 

What contributed to performance?

U.S. Treasury saw modest gains during the reporting period amid expectations and then the realization of an interest rate cut by the U.S. Federal Reserve. For the first time since March 2020, the central bank lowered short-term interest rates, announcing a 50-basis point cut. Leading up to the rate cut, Treasury yields moved lower, the 10-year note moving from 4.93% to end the reporting period at 4.28%. (Bond prices and yields move in opposite directions).

What detracted from performance?

During the reporting period, writing (selling) one-month covered call options to generate income detracted from the Fund's performance.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: August 18, 2022 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453402.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br> Inception* |
| Fund NAV | 8.56% | (5.12)% |
| ICE BofA US Broad Market Index | 10.55 | 1.42 |
| Cboe TLT 2% OTM BuyWrite Index | 9.64 | (4.36) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1107436043 |
| Number of Portfolio Holdings | &nbsp;&nbsp;3 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1839621 |
| Portfolio Turnover Rate | &nbsp;&nbsp;0% |

---

The Fund has added the ICE BofA US Broad Market Index in response to new regulatory requirements.

The inception date of the Fund was August 18, 2022.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of*<br> *Net Assets* |
| Investment Companies | 99.1% |
| Short-term Investments | 1.3% |
| Options Written | (0.4)% |

---

---

| | |
|:---|:---|
| **Maturity allocation (of the underlying fund)<sup>(a)</sup>** | **Maturity allocation (of the underlying fund)<sup>(a)</sup>** |
| *Maturity* | *Percent of Total<br> Investments<sup>(b)</sup>* |
| 15-20 Years | 2.8% |
| 20-25 Years | 32.8% |
| 25-30 Years | 64.4% |

---

<sup><sup>(a)</sup></sup> <sup>The underlying fund is iShares 20+ Year Treasury Bond ETF.</sup> <br> <sup><sup>(b)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by ICE Data Indices, LLC, Cboe Global Indices, LLC and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

Annual Shareholder Report — October 31, 2024

TLTW-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Aaa - A Rated Corporate Bond ETF

### QLTA \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Aaa - A Rated Corporate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares Aaa - A Rated Corporate Bond ETF | $16 | 0.15% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 12.45%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg U.S. Corporate Aaa - A Capped Index returned 12.59%. 

What contributed to performance?

Longer-term corporate bonds contributed the most to the Fund's return during the reporting period, supported by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve Bank ("Fed") lowered short-term interest rates by a 50 basis point cut, its first rate reduction since March 2020. Among sectors, industrial bonds, specifically consumer non-cyclical and technology, contributed positively to performance. Financial sector bonds also contributed positively to performance, driven by the banking sector. By credit quality, the Fund's allocation to A-rated bonds benefited the Fund's return.

What detracted from performance?

During the reporting period, there were no significant detractors from the Fund's return.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454306.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 12.45% | 0.03% | 2.08% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg U.S. Corporate Aaa - A Capped Index | 12.59 | 0.14 | 2.19 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1651638712 |
| Number of Portfolio Holdings | &nbsp;&nbsp;3028 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1730190 |
| Portfolio Turnover Rate | &nbsp;&nbsp;16% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 1-5 Years | 37.4% |
| 5-10 Years | 27.3% |
| 10-15 Years | 7.3% |
| 15-20 Years | 6.5% |
| More than 20 Years | 21.5% |

---

Ten largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total<br> Investments<sup>(a)</sup>* |
| Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc., 4.90%, 02/01/46 | 0.3% |
| Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc., 4.70%, 02/01/36 | 0.2% |
| Comcast Corp., 4.15%, 10/15/28 | 0.2% |
| Pfizer Investment Enterprises Pte Ltd., 5.30%, 05/19/53 | 0.2% |
| Citigroup Inc., 5.17%, 02/13/30 | 0.2% |
| Anheuser-Busch InBev Worldwide Inc., 5.55%, 01/23/49 | 0.2% |
| Wells Fargo & Co., 5.01%, 04/04/51 | 0.2% |
| AbbVie Inc., 4.25%, 11/21/49 | 0.2% |
| Pfizer Investment Enterprises Pte Ltd., 4.75%, 05/19/33 | 0.2% |
| GlaxoSmithKline Capital Inc., 3.88%, 05/15/28 | 0.2% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Aaa - A Rated Corporate Bond ETF

Annual Shareholder Report — October 31, 2024

QLTA-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares BB Rated Corporate Bond ETF

### HYBB \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares BB Rated Corporate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares BB Rated Corporate Bond ETF | $27 | 0.25% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 14.44%. 

* For the same period, the ICE BofA US Broad Market Index returned 10.55% and the ICE BofA BB US High Yield Constrained Index returned 14.51%. 

What contributed to performance?

U.S. intermediate-term bonds (between three and ten years) were the largest contributors to the Fund's return during the reporting period. Bond prices rose as yields fell (bond yields and prices move in opposite directions) amid an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those expectations were realized in September 2024 when the U.S. Federal Reserve Bank lowered short term interest rates by 50 basis points, its first-rate reduction since March 2020. Among sectors, notable contributors included consumer cyclical and financial bonds. Additionally, the Fund's allocation to lower-risk high-yield bonds rated Ba by Moody's, benefited performance.

What detracted from performance?

During the reporting period, there were no significant detractors from the Fund's return.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: October 6, 2020 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453702.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br> Inception* |
| Fund NAV | 14.44% | 3.42% |
| ICE BofA US Broad Market Index | 10.55 | (1.84) |
| ICE BofA BB US High Yield Constrained Index | 14.51 | 3.54 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$367444693 |
| Number of Portfolio Holdings | &nbsp;&nbsp;961 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$876370 |
| Portfolio Turnover Rate | &nbsp;&nbsp;37% |

---

The Fund has added the ICE BofA US Broad Market Index in response to new regulatory requirements.

The inception date of the Fund was October 6, 2020.

On December 1, 2023, the Fund began to compare its performance to the standard pricing time of the ICE BofA BB US High Yield Constrained Index (the "Index"). Index data prior to March 1, 2021 is for the Index's standard pricing time of 3 pm. Index data from March 1, 2021 through November 30, 2023 is for a custom 4pm pricing variant of the Index. Index returns beginning on December 1, 2023 reflect the Index's new standard pricing time of 4 pm. The change of the Index's standard pricing time from 3 pm to 4 pm resulted in the discontinuation of the custom 4pm pricing variant used from March 1, 2021 through November 30, 2023.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 0-1 Year | 0.1% |
| 1-5 Years | 52.0% |
| 5-10 Years | 42.2% |
| 10-15 Years | 1.5% |
| 15-20 Years | 0.6% |
| More than 20 Years | 3.6% |

---

Ten largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total<br> Investments<sup>(a)</sup>* |
| Medline Borrower LP, 3.88%, 04/01/29 | 0.6% |
| Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 | 0.5% |
| Venture Global LNG Inc., 9.50%, 02/01/29 | 0.5% |
| American Airlines Inc./AAdvantage Loyalty IP Ltd., 5.75%, 04/20/29 | 0.4% |
| Carnival Corp., 5.75%, 03/01/27 | 0.4% |
| EMRLD Borrower LP/Emerald Co-Issuer Inc., 6.63%, 12/15/30 | 0.4% |
| TransDigm Inc., 6.38%, 03/01/29 | 0.4% |
| Intelsat Jackson Holdings SA, 6.50%, 03/15/30 | 0.4% |
| DaVita Inc., 4.63%, 06/01/30 | 0.4% |
| Venture Global LNG Inc., 8.13%, 06/01/28 | 0.3% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The net expense ratio increased from the prior fiscal year end primarily due to the discontinuation of a voluntary fee waiver.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by ICE Data Indices, LLC and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares BB Rated Corporate Bond ETF

Annual Shareholder Report — October 31, 2024

HYBB-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Broad USD High Yield Corporate Bond ETF

### USHY \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Broad USD High Yield Corporate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Broad USD High Yield Corporate Bond ETF | $10 | 0.09% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 16.68%. 

* For the same period, the ICE BofA US Broad Market Index returned 10.55% and the ICE BofA US High Yield Constrained Index returned 16.49%. 

What contributed to performance?

Bond returns in the United States were supported during the reporting period by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September when the U.S. Federal Reserve lowered interest rates by a 50 basis point cut, its first rate reduction since March 2020. High-yield issues were helped by declining credit spreads (the difference in the yield between two bonds with similar maturities but different credit qualities) as fundamentals remained resilient. By sector, consumer cyclicals contributed the most to performance, as retailers were supported by a resilient consumer, while the consumer non cyclicals space was helped by healthcare issues. Within credit quality, performance was helped by bonds across the high-yield rating spectrum, with those rated BB delivering the strongest performance.

What detracted from performance?

There were no significant detractors to the Fund's performance during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: October 25, 2017 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453821.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 16.68% | 4.32% | 4.34% |
| ICE BofA US Broad Market Index | 10.55 | (0.24) | 1.18 |
| ICE BofA US High Yield Constrained Index | 16.49 | 4.37 | 4.41 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$20604750693 |
| Number of Portfolio Holdings | &nbsp;&nbsp;1896 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$11332904 |
| Portfolio Turnover Rate | &nbsp;&nbsp;21% |

---

The Fund has added the ICE BofA US Broad Market Index in response to new regulatory requirements.

The inception date of the Fund was October 25, 2017.

On December 1, 2023, the Fund began to compare its performance to the standard pricing time of the ICE BofA US High Yield Constrained Index. Index data prior to March 1, 2021 is for the Index's standard pricing time of 3 pm. Index data from March 1, 2021 through November 30, 2023 is for a custom 4 pm pricing variant of the Index. Index returns beginning on December 1, 2023 reflect the Index's new standard pricing time of 4 pm. The change of the Index's standard pricing time from 3 pm to 4 pm resulted in the discontinuation of the custom 4 pm pricing variant used from March 1, 2021 through November 30, 2023.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Baa | 1.2% |
| Ba | 39.4% |
| B | 43.7% |
| Caa | 12.7% |
| Ca | 0.8% |
| Not Rated | 2.2% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br>*Investments*<sup>(a)</sup>* |
| 0-1 Year | 0.2% |
| 1-5 Years | 58.2% |
| 5-10 Years | 38.4% |
| 10-15 Years | 0.8% |
| 15-20 Years | 0.3% |
| More than 20 Years | 2.1% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

Effective December 15, 2023, for its investment advisory services to the Fund, BlackRock Fund Advisors ("BFA") is entitled to an annual investment advisory fee of 0.08%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund. Prior to December 15, 2023, BFA was entitled to an annual investment advisory fee of 0.22%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund. The net expense ratio decreased from the prior fiscal year end due to this change.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by ICE Data Indices, LLC and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Broad USD High Yield Corporate Bond ETF

Annual Shareholder Report — October 31, 2024

USHY-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares CMBS ETF

### CMBS \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares CMBS ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares CMBS ETF | $26 | 0.25% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 10.38%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg U.S. CMBS (ERISA Only) Index returned 10.75%. 

What contributed to performance?

The largest driver of bond prices during the reporting period was the anticipation of easing monetary policy by the U.S. Federal Reserve, which increased optimism in commercial mortgage-backed securities ("CMBS"). The central bank did cut rates in September by 50 basis points amid an environment of slowing pricing pressures and steady growth. Spreads for CMBS over Treasuries have tightened, given the strong demand that absorbed new issue supply, especially for newly issued deals. (A spread is the difference in yield between a U.S. Treasury bond and a specific commercial mortgage-backed security.)

What detracted from performance?

While there were no significant detractors from the Fund's return during the reporting period, secular challenges in the office sector remain as stalled rent growth, increased financing costs, higher operating expenses, and cap rate resets have raised refinancing hurdles in the commercial real estate market.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454249.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 10.38% | 0.45% | 1.85% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg U.S. CMBS (ERISA Only) Index | 10.75 | 0.78 | 2.16 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$456012693 |
| Number of Portfolio Holdings | &nbsp;&nbsp;484 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1058365 |
| Portfolio Turnover Rate | &nbsp;&nbsp;33% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Aaa | 70.1% |
| Aa | 2.7% |
| A | 0.6% |
| Baa | 0.2% |
| Not Rated | 26.4% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| 1-5 Years | 23.3% |
| 5-10 Years | 25.6% |
| 10-15 Years | 1.0% |
| 15-20 Years | 0.2% |
| 20-25 Years | 5.0% |
| 25-30 Years | 27.0% |
| 30-35 Years | 13.4% |
| 35-40 Years | 4.2% |
| More than 40 Years | 0.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares CMBS ETF

Annual Shareholder Report — October 31, 2024

CMBS-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Convertible Bond ETF

### ICVT \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Convertible Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Convertible Bond ETF | $22 | 0.20% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 20.91%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg U.S. Convertible Cash Pay Bond>$250MM Index returned 21.18%. 

What contributed to performance?

Bond returns were supported by an environment of slowing pricing pressures and steady growth in the United States during the reporting period. Growing expectations for interest rate cuts, and the eventual rate cut in September pushed yields down and prices higher. (Bond yields and prices move in opposite directions.) The Fund's substantial exposure to the consumer cyclicals (supported by robust consumer spending) and information technology sectors meaningfully contributed to performance. Given the hybrid structure of convertible bonds, rising equity prices, particularly among information technology companies, supported the Fund's return. Convertible bonds are issued by companies with high expectations for future earnings, making them a popular form of financing for many companies. Among credit quality, much of the convertible universe is unrated, and these issues contributed positively to returns.

What detracted from performance?

Bonds rated B, slightly detracted from the Fund's return during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: June 2, 2015 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454001.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 20.91% | 11.20% | 9.31% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg U.S. Convertible Cash Pay Bond>$250MM Index | 21.18 | 11.72 | 9.81 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2255834575 |
| Number of Portfolio Holdings | &nbsp;&nbsp;336 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$3617350 |
| Portfolio Turnover Rate | &nbsp;&nbsp;25% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was June 2, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br>*Investments*<sup>(a)</sup>* |
| 0-1 Year | 9.8% |
| 1-5 Years | 76.1% |
| 5-10 Years | 12.3% |
| More than 20 Years | 1.8% |

---

Ten largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Alibaba Group Holding Ltd., 0.50%, 06/01/31 | 2.4% |
| Palo Alto Networks Inc., 0.38%, 06/01/25 | 1.0% |
| DISH Network Corp., 3.38%, 08/15/26 | 1.0% |
| PG&E Corp., 4.25%, 12/01/27 | 0.9% |
| JD.com Inc., 0.25%, 06/01/29 | 0.9% |
| Western Digital Corp., 3.00%, 11/15/28 | 0.9% |
| Ford Motor Co. , 03/15/26 | 0.9% |
| Booking Holdings Inc., 0.75%, 05/01/25 | 0.9% |
| Carnival Corp., 5.75%, 12/01/27 | 0.9% |
| Uber Technologies Inc., 0.88%, 12/01/28 | 0.8% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Convertible Bond ETF

Annual Shareholder Report — October 31, 2024

ICVT-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Core 1-5 Year USD Bond ETF

### ISTB \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Core 1-5 Year USD Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Core 1-5 Year USD Bond ETF | $6 | 0.06% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 7.81%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg U.S. Universal 1-5 Year Index returned 7.85%. 

What contributed to performance?

Bond returns in the United States were supported during the reporting period by an environment of slowing pricing pressures and steady growth, including the first rate cut by the U.S. Federal Reserve Bank ("Fed") since March 2020. Corporate bonds contributed the most to the Fund's performance, led by the industrial and financial sector. Treasuries also registered solid gains, as clarity on the Fed's policy direction drove Treasury yields lower, the 10-year Treasury decreased from 4.93% to 4.29% during the reporting period. (Bond yields and prices move in opposite directions.) Within credit quality, AA rated bonds contributed to performance.

What detracted from performance?

There were no significant detractors to the Fund's performance during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454191.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 7.81% | 1.48% | 1.88% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg U.S. Universal 1-5 Year Index | 7.85 | 1.51 | 1.93 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$4090994404 |
| Number of Portfolio Holdings | &nbsp;&nbsp;6241 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2445308 |
| Portfolio Turnover Rate | &nbsp;&nbsp;39% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Aaa | 61.5% |
| Aa | 3.8% |
| A | 12.7% |
| Baa | 11.5% |
| Ba | 3.5% |
| B | 3.4% |
| Caa | 1.1% |
| Ca | 0.1% |
| Not Rated | 2.4% |

---

Portfolio composition

---

| | |
|:---|:---|
| *Investment Type* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| U.S. Government & Agency Obligations | 55.9% |
| Corporate Bonds & Notes | 35.1% |
| Foreign Government Obligations | 6.2% |
| Collateralized Mortgage Obligations | 1.8% |
| Asset-Backed Securities | 0.9% |
| Municipal Debt Obligations | 0.1% |
| Common Stocks | 0.0 %<sup>(b)</sup> |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>(b)</sup></sup><sup>Rounds to less than 0.1%.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The contractual fee waiver has been extended through February 28, 2029.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Core 1-5 Year USD Bond ETF

Annual Shareholder Report — October 31, 2024

ISTB-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Core International Aggregate Bond ETF

### IAGG \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Core International Aggregate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Core International Aggregate Bond ETF | $7 | 0.07% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 9.61%. 

* For the same period, the Bloomberg Global Aggregate Bond Index returned 9.54% and the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index returned 9.56%. 

What contributed to performance?

Euro bloc bonds were the largest contributors to the Fund's return during the reporting period as slowing pricing pressures supported longer-term maturity treasury and government-related issues. Bond prices gained, and yields fell as both the European Central Bank ("ECB") and the U.S. Federal Reserve began to ease monetary policy, with the ECB cutting rates three times. (Bond prices and yields move in opposite directions.) In particular, French debt benefited from the economic and fiscal strategy navigated by the country's new government. Italian and German bonds were also meaningful contributors. In the Asia bloc, Chinese bonds were supported by government stimulus measures. Longer-term issues, which are more sensitive to interest rate movements, contributed to returns. By credit quality, investment-grade issues rated Aa supported performance.

What detracted from performance?

There were no significant detractors to the Fund's returns during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 10, 2015 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453942.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 9.61% | 0.46% | 2.42% |
| Bloomberg Global Aggregate Bond Index | 9.54 | (1.64) | 0.83 |
| Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index | 9.56 | 0.58 | 2.53 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$6979829949 |
| Number of Portfolio Holdings | &nbsp;&nbsp;5827 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$4174830 |
| Portfolio Turnover Rate | &nbsp;&nbsp;20% |

---

The Fund has added the Bloomberg Global Aggregate Bond Index in response to new regulatory requirements.

The inception date of the Fund was November 10, 2015.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Investment Type* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Foreign Government Obligations | 81.3% |
| Corporate Bonds & Notes | 18.7% |

---

Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| China | 18.7% |
| Japan | 11.2% |
| France | 9.7% |
| Germany | 8.5% |
| United Kingdom | 7.2% |
| Italy | 6.2% |
| Canada | 5.7% |
| Spain | 4.3% |
| Supranational | 3.0% |
| Australia | 2.9% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Core International Aggregate Bond ETF

Annual Shareholder Report — October 31, 2024

IAGG-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares ESG Advanced High Yield Corporate Bond ETF

### HYXF \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares ESG Advanced High Yield Corporate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares ESG Advanced High Yield Corporate Bond ETF | $38 | 0.35% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 17.45%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg MSCI US High Yield Choice ESG Screened Index returned 17.35%. 

What contributed to performance?

High-yield corporate bond returns supported Fund performance during the reporting period as credit spreads (the difference in the yield between two bonds with similar maturities but different credit qualities) tightened due to resilient fundamentals. Demand for green bonds, used to finance or refinance environmental or social projects or activities, has steadily increased. Wirelines bonds, as well as cable and satellite, in the communications sector, contributed the most to performance. Among consumer cyclicals bonds, retailers supported performance helped by a resilient consumer. Within credit quality, performance was strong across high-yield ratings.

What detracted from performance?

There were no significant detractors to the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: June 14, 2016 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453882.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 17.45% | 3.32% | 4.89% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.50 |
| Bloomberg MSCI US High Yield Choice ESG Screened Index | 17.35 | 3.45 | 5.12 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$158377216 |
| Number of Portfolio Holdings | &nbsp;&nbsp;744 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$456864 |
| Portfolio Turnover Rate | &nbsp;&nbsp;30% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was June 14, 2016.

The performance of the Bloomberg MSCI US High Yield Choice ESG Screened Index in this report reflects the performance of the Markit iBoxx USD Liquid High Yield ex-Oil&Gas Index through September 14, 2020 and, beginning on September 15, 2020, the performance of the Bloomberg MSCI US High Yield Choice ESG Screened Index.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Baa | 1.5% |
| Ba | 45.7% |
| B | 38.0% |
| Caa | 11.3% |
| Ca | 1.7% |
| Not Rated | 1.8% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 1-5 Years | 57.2% |
| 5-10 Years | 40.9% |
| 10-15 Years | 0.6% |
| 15-20 Years | 0.2% |
| More than 20 Years | 1.1% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, Markit Indices Limited and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares ESG Advanced High Yield Corporate Bond ETF

Annual Shareholder Report — October 31, 2024

HYXF-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Fallen Angels USD Bond ETF

### FALN \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Fallen Angels USD Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares Fallen Angels USD Bond ETF | $27 | 0.25% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 17.00%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg US High Yield Fallen Angel 3% Capped Index returned 16.13%. 

What contributed to performance?

Bond returns were supported by an environment of slowing pricing pressures and steady growth in the United States during the reporting period. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by a 50 basis point cut, its first rate reduction since March 2020. By sector, the consumer cyclicals sector led, supported by retailers and communication sectors. Within credit quality, the lowest risk rating of high-yield bonds, rated Ba by Moody's contributed the most to performance, followed by bonds rated B.

What detracted from performance?

There were no significant detractors to the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: June 14, 2016 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453941.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 17.00% | 5.56% | 6.59% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.50 |
| Bloomberg US High Yield Fallen Angel 3% Capped Index | 16.13 | 5.98 | 6.94 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1807553122 |
| Number of Portfolio Holdings | &nbsp;&nbsp;180 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$4137917 |
| Portfolio Turnover Rate | &nbsp;&nbsp;22% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was June 14, 2016.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Baa | 6.1% |
| Ba | 66.9% |
| B | 11.3% |
| Caa | 7.8% |
| Ca | 1.6% |
| Not Rated | 6.3% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 0-1 Year | 0.9% |
| 1-5 Years | 41.5% |
| 5-10 Years | 29.8% |
| 10-15 Years | 10.5% |
| 15-20 Years | 6.6% |
| More than 20 Years | 10.7% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Fallen Angels USD Bond ETF

Annual Shareholder Report — October 31, 2024

FALN-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Floating Rate Bond ETF

### FLOT \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Floating Rate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares Floating Rate Bond ETF | $16 | 0.15% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 6.61%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg US Floating Rate Note<5 Years Index returned 6.62%. 

What contributed to performance?

Bond prices gained and yields fell during the reporting period as the U.S. Federal Reserve lowered short-term interest rates by 50 basis point cut, its first-rate reduction since March 2020. The prospect of lower rates put downward pressure on floating-rate bonds as interest rates fell. The European Central Bank began its monetary easing cycle prior to the United States. As such, U.S. rates were higher for longer and U.S. bonds were meaningful contributors to the Fund's return. Among sectors, financials were the largest contributors, particularly the banking sector, which was supported by the prospect of monetary easing. By credit quality, A-rated bonds were the largest contributors to performance.

What detracted from performance?

There were no significant detractors from the Fund's return during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454319.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 6.61% | 2.96% | 2.30% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg US Floating Rate Note<5 Years Index | 6.62 | 3.15 | 2.52 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$7324115048 |
| Number of Portfolio Holdings | &nbsp;&nbsp;372 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$11092590 |
| Portfolio Turnover Rate | &nbsp;&nbsp;37% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Aaa | 26.6% |
| Aa | 24.0% |
| A | 42.1% |
| Baa | 5.1% |
| Ba | 0.2% |
| Not Rated | 2.0% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 0-1 Year | 20.5% |
| 1-5 Years | 79.5% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Floating Rate Bond ETF

Annual Shareholder Report — October 31, 2024

FLOT-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares GNMA Bond ETF

### GNMA \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares GNMA Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares GNMA Bond ETF | $9 | 0.09% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 10.75%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg U.S. GNMA Bond Index returned 10.69%. 

What contributed to performance?

The largest driver of performance during the reporting period was the easing of monetary policy by the U.S. Federal Reserve Bank. The central bank cut rates in September by 50 basis points amid an environment of slowing pricing pressures and steady growth. This was beneficial to mortgage-backed securities, including Government National Mortgage Association ("GNMA") bonds, as yields fell (bond prices and yields move in opposite directions). The pivot to lower interest rates benefited longer-term issues, which are more sensitive to interest rate movements, and the Fund's allocation to issues between five and seven years meaningfully contributed to performance.

What detracted from performance?

There were no significant detractors from the Fund's return during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454236.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 10.75% | (0.65)% | 0.76% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg U.S. GNMA Bond Index | 10.69 | (0.53) | 0.93 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$312855028 |
| Number of Portfolio Holdings | &nbsp;&nbsp;277 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$317285 |
| Portfolio Turnover Rate | &nbsp;&nbsp;283% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| 5-10 Years | 0.2% |
| 10-15 Years | 0.3% |
| 15-20 Years | 2.7% |
| 20-25 Years | 17.2% |
| 25-30 Years | 71.9% |
| 30-35 Years | 7.7% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| Government National Mortgage Association, 2.00%, 02/20/51 | 4.8% |
| Government National Mortgage Association, 2.00%, 12/20/51 | 3.5% |
| Government National Mortgage Association, 5.50%, 04/20/53 | 3.1% |
| Government National Mortgage Association, 2.50%, 08/20/51 | 3.0% |
| Government National Mortgage Association, 2.50%, 07/20/51 | 2.8% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The contractual fee waiver has been extended through February 28, 2029.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares GNMA Bond ETF

Annual Shareholder Report — October 31, 2024

GNMA-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares High Yield Corporate Bond BuyWrite Strategy ETF

### HYGW \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares High Yield Corporate Bond BuyWrite Strategy ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares High Yield Corporate Bond BuyWrite Strategy ETF | $21 | 0.20% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 9.21%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Cboe HYG BuyWrite Index returned 9.23%. 

What contributed to performance?

Bond returns were supported by an environment of slowing pricing pressures and steady growth in the United States during the reporting period. Expectations for interest rate cuts grew, and those expectations were realized in September 2024 when the U.S. Federal Open Market Committee lowered short-term interest rates by 50 basis point, its first-rate reduction since March 2020. The healthy economic backdrop further supported high-yield issues, which contributed to the Fund's returns. During the reporting period, issues in the consumer cyclicals sector benefited performance, most notably among retailers and consumer service companies, supported by robust consumer strength and spending. Cable and satellite issues in the communications sector also registered strong returns. By credit rating, securities considered lower risk high yield, rated Ba and B by Moody's were additive to performance amid a less risk-averse environment.

What detracted from performance?

During the reporting period, writing (selling) one-month covered call options to generate income detracted from the Fund's performance.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: August 18, 2022 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453642.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br> Inception* |
| Fund NAV | 9.21% | 5.37% |
| Bloomberg U.S. Universal Index | 11.20 | 2.06 |
| Cboe HYG BuyWrite Index | 9.23 | 5.76 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$187589570 |
| Number of Portfolio Holdings | &nbsp;&nbsp;3 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$119925 |
| Portfolio Turnover Rate | &nbsp;&nbsp;0% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was August 18, 2022.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of*<br> *Net Assets* |
| Investment Companies | 99.0% |
| Short-term Investments | 0.9% |
| Options Written | (0.1)% |
| Other assets less liabilities | 0.2% |

---

---

| | |
|:---|:---|
| **Maturity allocation (of the underlying fund)<sup>(a)</sup>** | **Maturity allocation (of the underlying fund)<sup>(a)</sup>** |
| *Maturity* | *Percent of Total<br> Investments<sup>(b)</sup>* |
| 0-1 Year | 0.5% |
| 1-5 Years | 57.6% |
| 5-10 Years | 39.5% |
| 10-15 Years | 0.4% |
| More than 20 Years | 2.0% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The underlying fund is iShares iBoxx $ High Yield Corporate Bond ETF.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes money market funds.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, Cboe Global Indices, LLC and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares High Yield Corporate Bond BuyWrite Strategy ETF

Annual Shareholder Report — October 31, 2024

HYGW-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds 2024 Term High Yield and Income ETF

### IBHD \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds 2024 Term High Yield and Income ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds 2024 Term High Yield and Income ETF | $35 | 0.34% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 7.86%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg 2024 Term High Yield and Income Index returned 7.49%. 

What contributed to performance?

U.S. corporate bonds registered solid gains during the reporting period, supported by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered interest rates by a 50 basis point cut, its first rate reduction since March 2020. Both Term Maturity Funds with earlier maturity dates and Term Maturity Funds with later maturity dates, consumer cyclicals and consumer non-cyclical bonds in the industrial sector contributed the most to returns. Allocations to financial bonds also contributed to performance.

Additionally, Term Maturity Funds with earlier maturity dates benefited from bonds with credit ratings near the lower range of investment grade and the higher end of high yield (those rated Baa and Ba by Moody's.) Term Maturity Funds with later maturity dates were supported by bonds with credit ratings that were on the lower risk spectrum of high yield (those rated Ba and B by Moody's), as credit spreads (the difference in the yield between two bonds with similar maturities but different credit qualities) narrowed during the reporting period.

What detracted from performance?

During the reporting period, there were no significant detractors from the Fund's performance.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: May 7, 2019 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453641.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 7.86% | 4.11% | 4.32% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.10 |
| Bloomberg 2024 Term High Yield and Income Index | 7.49 | 4.34 | 4.51 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$336725571 |
| Number of Portfolio Holdings | &nbsp;&nbsp;57 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1485725 |
| Portfolio Turnover Rate | &nbsp;&nbsp;9% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was May 7, 2019.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| A | 0.1% |
| Baa | 16.7% |
| Ba | 6.1% |
| B | 5.5% |
| Caa | 5.0% |
| Not Rated | 1.6% |
| Short-Term and Other Assets | 65.0% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| DISH DBS Corp., 5.88%, 11/15/24 | 3.1% |
| Live Nation Entertainment Inc., 4.88%, 11/01/24 | 2.9% |
| Perrigo Finance Unlimited Co., 3.90%, 12/15/24 | 2.8% |
| Walgreens Boots Alliance Inc., 3.80%, 11/18/24 | 2.6% |
| Methanex Corp., 4.25%, 12/01/24 | 2.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of planned changes to the Fund since October 31, 2023.

In connection with the establishment of the Fund, the Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on December 16, 2024, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on December 17, 2024. Proceeds of the liquidation were sent to shareholders on December 19, 2024.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds 2024 Term High Yield and Income ETF

Annual Shareholder Report — October 31, 2024

IBHD-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds 2025 Term High Yield and Income ETF

### IBHE \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds 2025 Term High Yield and Income ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds 2025 Term High Yield and Income ETF | $37 | 0.35% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 10.44%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg 2025 Term High Yield and Income Index returned 10.88%. 

What contributed to performance?

U.S. corporate bonds registered solid gains during the reporting period, supported by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered interest rates by a 50 basis point cut, its first rate reduction since March 2020. Both Term Maturity Funds with earlier maturity dates and Term Maturity Funds with later maturity dates, consumer cyclicals and consumer non-cyclical bonds in the industrial sector contributed the most to returns. Allocations to financial bonds also contributed to performance.

Additionally, Term Maturity Funds with earlier maturity dates benefited from bonds with credit ratings near the lower range of investment grade and the higher end of high yield (those rated Baa and Ba by Moody's.) Term Maturity Funds with later maturity dates were supported by bonds with credit ratings that were on the lower risk spectrum of high yield (those rated Ba and B by Moody's), as credit spreads (the difference in the yield between two bonds with similar maturities but different credit qualities) narrowed during the reporting period.

What detracted from performance?

During the reporting period, there were no significant detractors from the Fund's performance.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: May 7, 2019 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453582.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 10.44% | 4.64% | 4.76% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.10 |
| Bloomberg 2025 Term High Yield and Income Index | 10.88 | 5.11 | 5.20 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$601619902 |
| Number of Portfolio Holdings | &nbsp;&nbsp;397 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1636476 |
| Portfolio Turnover Rate | &nbsp;&nbsp;80% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was May 7, 2019.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| A | 0.6% |
| Baa | 24.1% |
| Ba | 37.7% |
| B | 24.6% |
| Caa | 7.5% |
| Not Rated | 2.7% |
| Short-Term and Other Assets | 2.8% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 | 3.0% |
| Bausch Health Companies Inc., 5.50%, 11/01/25 | 3.0% |
| Ally Financial Inc., 5.75%, 11/20/25 | 2.4% |
| Gen Digital Inc., 5.00%, 04/15/25 | 2.4% |
| Melco Resorts Finance Ltd., 4.88%, 06/06/25 | 2.4% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds 2025 Term High Yield and Income ETF

Annual Shareholder Report — October 31, 2024

IBHE-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds 2026 Term High Yield and Income ETF

### IBHF \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds 2026 Term High Yield and Income ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds 2026 Term High Yield and Income ETF | $37 | 0.35% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 12.58%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg 2026 Term High Yield and Income Index returned 13.04%. 

What contributed to performance?

U.S. corporate bonds registered solid gains during the reporting period, supported by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered interest rates by a 50 basis point cut, its first rate reduction since March 2020. Both Term Maturity Funds with earlier maturity dates and Term Maturity Funds with later maturity dates, consumer cyclicals and consumer non-cyclical bonds in the industrial sector contributed the most to returns. Allocations to financial bonds also contributed to performance.

Additionally, Term Maturity Funds with earlier maturity dates benefited from bonds with credit ratings near the lower range of investment grade and the higher end of high yield (those rated Baa and Ba by Moody's.) Term Maturity Funds with later maturity dates were supported by bonds with credit ratings that were on the lower risk spectrum of high yield (those rated Ba and B by Moody's), as credit spreads (the difference in the yield between two bonds with similar maturities but different credit qualities) narrowed during the reporting period.

What detracted from performance?

During the reporting period, there were no significant detractors from the Fund's performance.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 10, 2020 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453521.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | 12.58% | 4.27% |
| Bloomberg U.S. Universal Index | 11.20 | (1.29) |
| Bloomberg 2026 Term High Yield and Income Index | 13.04 | 4.65 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$555429976 |
| Number of Portfolio Holdings | &nbsp;&nbsp;151 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1255320 |
| Portfolio Turnover Rate | &nbsp;&nbsp;53% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was November 10, 2020.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Baa | 1.9% |
| Ba | 41.4% |
| B | 35.3% |
| Caa | 16.9% |
| Not Rated | 0.7% |
| Short-Term and Other Assets | 3.8% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| Western Digital Corp., 4.75%, 02/15/26 | 2.4% |
| Newell Brands Inc., 5.70%, 04/01/26 | 2.2% |
| United Airlines Inc., 4.38%, 04/15/26 | 2.1% |
| American Airlines Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/26 | 1.9% |
| OneMain Finance Corp., 7.13%, 03/15/26 | 1.7% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

On November 10, 2023, the Fund changed from non-diversified to diversified under the Investment Company Act of 1940 and removed the Non-Diversification Risk.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds 2026 Term High Yield and Income ETF

Annual Shareholder Report — October 31, 2024

IBHF-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds 2027 Term High Yield and Income ETF

### IBHG \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds 2027 Term High Yield and Income ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds 2027 Term High Yield and Income ETF | $37 | 0.35% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 13.78%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg 2027 Term High Yield and Income Index returned 14.01%. 

What contributed to performance?

U.S. corporate bonds registered solid gains during the reporting period, supported by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered interest rates by a 50 basis point cut, its first rate reduction since March 2020. Both Term Maturity Funds with earlier maturity dates and Term Maturity Funds with later maturity dates, consumer cyclicals and consumer non-cyclical bonds in the industrial sector contributed the most to returns. Allocations to financial bonds also contributed to performance.

Additionally, Term Maturity Funds with earlier maturity dates benefited from bonds with credit ratings near the lower range of investment grade and the higher end of high yield (those rated Baa and Ba by Moody's.) Term Maturity Funds with later maturity dates were supported by bonds with credit ratings that were on the lower risk spectrum of high yield (those rated Ba and B by Moody's), as credit spreads (the difference in the yield between two bonds with similar maturities but different credit qualities) narrowed during the reporting period.

What detracted from performance?

During the reporting period, there were no significant detractors from the Fund's performance.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: July 7, 2021 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453461.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | 13.78% | 2.63% |
| Bloomberg U.S. Universal Index | 11.20 | (1.80) |
| Bloomberg 2027 Term High Yield and Income Index | 14.01 | 2.87 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$173450510 |
| Number of Portfolio Holdings | &nbsp;&nbsp;225 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$384824 |
| Portfolio Turnover Rate | &nbsp;&nbsp;17% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was July 7, 2021.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Baa | 0.4% |
| Ba | 34.7% |
| B | 46.1% |
| Caa | 14.0% |
| Not Rated | 2.1% |
| Short-Term and Other Assets | 2.7% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| DISH Network Corp., 11.75%, 11/15/27 | 2.3% |
| Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 | 2.2% |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.13%, 05/01/27 | 2.0% |
| Mauser Packaging Solutions Holding Co., 7.88%, 04/15/27 | 1.7% |
| Carnival Corp., 5.75%, 03/01/27 | 1.7% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

On July 8, 2024, the Fund changed from non-diversified to diversified under the Investment Company Act of 1940 and removed the Non-Diversification Risk.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds 2027 Term High Yield and Income ETF

Annual Shareholder Report — October 31, 2024

IBHG-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds 2031 Term High Yield and Income ETF

### IBHK \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds 2031 Term High Yield and Income ETF (the "Fund") for the period of May 22, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds 2031 Term High Yield and Income ETF | $16(a) | 0.35%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$12824066 |
| Number of Portfolio Holdings | &nbsp;&nbsp;192 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$16940 |
| Portfolio Turnover Rate | &nbsp;&nbsp;16% |

---

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Baa | 1.0% |
| Ba | 38.9% |
| B | 51.1% |
| Caa | 5.4% |
| Not Rated | 2.3% |
| Short-Term and Other Assets | 1.3% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31 | 2.0% |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.25%, 02/01/31 | 1.7% |
| UKG Inc., 6.88%, 02/01/31 | 1.7% |
| Boost Newco Borrower LLC, 7.50%, 01/15/31 | 1.6% |
| Allied Universal Holdco LLC, 7.88%, 02/15/31 | 1.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds 2031 Term High Yield and Income ETF

Annual Shareholder Report — October 31, 2024

IBHK-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2024 Term Corporate ETF

### IBDP \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2024 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2024 Term Corporate ETF | $9 | 0.09% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 5.90%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 2024 Maturity Corporate Index returned 5.24%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: March 11, 2015 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454061.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 5.90% | 2.31% | 3.15% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.76 |
| Bloomberg December 2024 Maturity Corporate Index | 5.24 | 2.28 | 3.21 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2215468586 |
| Number of Portfolio Holdings | &nbsp;&nbsp;83 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2381529 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was March 11, 2015.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Aa | 3.0% |
| A | 14.1% |
| Baa | 16.8% |
| Ba | 0.8% |
| Not Rated | 0.4% |
| Short-Term and Other Assets | 64.9% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| AbbVie Inc., 2.60%, 11/21/24 | 2.0% |
| Alibaba Group Holding Ltd., 3.60%, 11/28/24 | 1.2% |
| Goldman Sachs Group Inc. (The), 5.70%, 11/01/24 | 1.1% |
| Oracle Corp., 2.95%, 11/15/24 | 1.1% |
| Canadian Pacific Railway Co., 1.35%, 12/02/24 | 0.8% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of planned changes to the Fund since October 31, 2023.

In connection with the establishment of the Fund, the Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on December 16, 2024, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on December 17, 2024. Proceeds of the liquidation were sent to shareholders on December 19, 2024.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2024 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDP-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2025 Term Corporate ETF

### IBDQ \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2025 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds Dec 2025 Term Corporate ETF | $10 | 0.10% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 6.73%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 2025 Maturity Corporate Index returned 6.80%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: March 11, 2015 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454002.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 6.73% | 2.09% | 3.19% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.76 |
| Bloomberg December 2025 Maturity Corporate Index | 6.80 | 2.10 | 3.26 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2879621321 |
| Number of Portfolio Holdings | &nbsp;&nbsp;664 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2584655 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was March 11, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Aaa | 2.4% |
| Aa | 10.4% |
| A | 40.2% |
| Baa | 42.1% |
| Ba | 1.8% |
| Not Rated | 1.7% |
| Short-Term and Other Assets | 1.4% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| Visa Inc., 3.15%, 12/14/25 | 0.7% |
| AbbVie Inc., 3.60%, 05/14/25 | 0.6% |
| Boeing Co. (The), 4.88%, 05/01/25 | 0.6% |
| Goldman Sachs Group Inc. (The), 3.50%, 04/01/25 | 0.6% |
| Oracle Corp., 2.50%, 04/01/25 | 0.5% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2025 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDQ-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2026 Term Corporate ETF

### IBDR \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2026 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds Dec 2026 Term Corporate ETF | $10 | 0.10% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 7.97%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 2026 Maturity Corporate Index returned 8.03%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: September 13, 2016 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453881.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 7.97% | 1.80% | 2.76% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.43 |
| Bloomberg December 2026 Maturity Corporate Index | 8.03 | 1.89 | 2.86 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2927107603 |
| Number of Portfolio Holdings | &nbsp;&nbsp;668 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2491989 |
| Portfolio Turnover Rate | &nbsp;&nbsp;9% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was September 13, 2016.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Aaa | 2.4% |
| Aa | 9.9% |
| A | 41.5% |
| Baa | 40.3% |
| Ba | 2.4% |
| Not Rated | 1.7% |
| Short-Term and Other Assets | 1.8% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| Boeing Co. (The), 2.20%, 02/04/26 | 0.8% |
| Microsoft Corp., 2.40%, 08/08/26 | 0.6% |
| AbbVie Inc., 2.95%, 11/21/26 | 0.6% |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 2.45%, 10/29/26 | 0.6% |
| Wells Fargo & Co., 3.00%, 04/22/26 | 0.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2026 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDR-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2027 Term Corporate ETF

### IBDS \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2027 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2027 Term Corporate ETF | $10 | 0.10% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 9.40%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 2027 Maturity Corporate Index returned 9.46%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: September 12, 2017 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453822.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 9.40% | 1.65% | 2.80% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.35 |
| Bloomberg December 2027 Maturity Corporate Index | 9.46 | 1.71 | 2.85 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2618618833 |
| Number of Portfolio Holdings | &nbsp;&nbsp;661 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2228401 |
| Portfolio Turnover Rate | &nbsp;&nbsp;12% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was September 12, 2017.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Aaa | 2.9% |
| Aa | 6.1% |
| A | 36.9% |
| Baa | 48.8% |
| Ba | 2.3% |
| Not Rated | 1.8% |
| Short-Term and Other Assets | 1.2% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| T-Mobile USA Inc., 3.75%, 04/15/27 | 0.7% |
| Warnermedia Holdings Inc., 3.76%, 03/15/27 | 0.7% |
| Citigroup Inc., 4.45%, 09/29/27 | 0.7% |
| Microsoft Corp., 3.30%, 02/06/27 | 0.7% |
| Amazon.com Inc., 3.15%, 08/22/27 | 0.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2027 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDS-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2028 Term Corporate ETF

### IBDT \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2028 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2028 Term Corporate ETF | $11 | 0.10% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 10.43%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 2028 Maturity Corporate Index returned 10.50%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: September 18, 2018 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453762.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 10.43% | 1.36% | 3.57% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg December 2028 Maturity Corporate Index | 10.50 | 1.41 | 3.61 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2293054253 |
| Number of Portfolio Holdings | &nbsp;&nbsp;602 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1780668 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was September 18, 2018.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Aaa | 1.3% |
| Aa | 6.0% |
| A | 32.6% |
| Baa | 55.2% |
| Ba | 2.3% |
| Not Rated | 1.2% |
| Short-Term and Other Assets | 1.4% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| CVS Health Corp., 4.30%, 03/25/28 | 0.9% |
| Pfizer Investment Enterprises Pte Ltd., 4.45%, 05/19/28 | 0.8% |
| Verizon Communications Inc., 4.33%, 09/21/28 | 0.8% |
| Comcast Corp., 4.15%, 10/15/28 | 0.8% |
| Cigna Group (The), 4.38%, 10/15/28 | 0.7% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2028 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDT-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2029 Term Corporate ETF

### IBDU \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2029 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2029 Term Corporate ETF | $11 | 0.10% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 11.67%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 2029 Maturity Corporate Index returned 11.70%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: September 17, 2019 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453581.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 11.67% | 1.24% | 1.62% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 0.38 |
| Bloomberg December 2029 Maturity Corporate Index | 11.70 | 1.32 | 1.66 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1894730607 |
| Number of Portfolio Holdings | &nbsp;&nbsp;592 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1311042 |
| Portfolio Turnover Rate | &nbsp;&nbsp;21% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was September 17, 2019.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Aaa | 0.9% |
| Aa | 4.0% |
| A | 34.7% |
| Baa | 53.6% |
| Ba | 3.4% |
| Not Rated | 2.0% |
| Short-Term and Other Assets | 1.4% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| AbbVie Inc., 3.20%, 11/21/29 | 1.1% |
| Anheuser-Busch InBev Worldwide Inc., 4.75%, 01/23/29 | 0.9% |
| Verizon Communications Inc., 4.02%, 12/03/29 | 0.9% |
| Centene Corp., 4.63%, 12/15/29 | 0.7% |
| International Business Machines Corp., 3.50%, 05/15/29 | 0.7% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2029 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDU-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2030 Term Corporate ETF

### IBDV \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2030 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2030 Term Corporate ETF | $11 | 0.10% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 13.17%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 20 Maturity Corporate Index returned 13.25%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: June 23, 2020 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453522.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br> Inception* |
| Fund NAV | 13.17% | (0.45)% |
| Bloomberg U.S. Universal Index | 11.20 | (0.95) |
| Bloomberg December 2030 Maturity Corporate Index | 13.25 | (0.39) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1395544470 |
| Number of Portfolio Holdings | &nbsp;&nbsp;521 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$928005 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was June 23, 2020.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Aaa | 1.2% |
| Aa | 5.8% |
| A | 34.2% |
| Baa | 54.3% |
| Ba | 2.4% |
| Not Rated | 1.0% |
| Short-Term and Other Assets | 1.1% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| T-Mobile USA Inc., 3.88%, 04/15/30 | 1.6% |
| Boeing Co. (The), 5.15%, 05/01/30 | 1.0% |
| Deutsche Telekom International Finance BV, 8.75%, 06/15/30 | 1.0% |
| British Telecommunications PLC, 9.63%, 12/15/30 | 0.8% |
| AT&T Inc., 4.30%, 02/15/30 | 0.7% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2030 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDV-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2030 Term Muni Bond ETF

### IBMS \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2030 Term Muni Bond ETF (the "Fund") for the period of May 22, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2030 Term Muni Bond ETF | $8(a) | 0.18%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$12690982 |
| Number of Portfolio Holdings | &nbsp;&nbsp;243 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$4215 |
| Portfolio Turnover Rate | &nbsp;&nbsp;0% |

---

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *S&P Credit Rating<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| AAA | 26.7% |
| AA+ | 17.6% |
| AA | 20.0% |
| AA- | 14.3% |
| A+ | 5.0% |
| A | 1.1% |
| A- | 3.6% |
| Not Rated | 9.6% |
| Short-Term and Other Assets | 2.1% |

---

Ten largest states

---

| | |
|:---|:---|
| *State* | *Percent of<br> Net Assets<sup>(b)</sup>* |
| Texas | 13.7% |
| New York | 9.7% |
| California | 7.6% |
| Washington | 6.8% |
| Florida | 5.5% |
| Maryland | 4.5% |
| Minnesota | 3.4% |
| Virginia | 3.2% |
| Illinois | 3.1% |
| North Carolina | 2.9% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes money market funds.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2030 Term Muni Bond ETF

Annual Shareholder Report — October 31, 2024

IBMS-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2031 Term Corporate ETF

### IBDW \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2031 Term Corporate ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds Dec 2031 Term Corporate ETF | $11 | 0.10% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 14.65%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg December 2031 Maturity Corporate Index returned 14.64%. 

What contributed to performance?

U.S. corporate bond returns were supported by an environment of slowing pricing pressures and steady growth during the reporting period. The yield on the 10-year Treasury was volatile as investors tried to determine the next moves of the U.S. Federal Reserve. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by 50 basis points, its first-rate reduction since March 2020.

Leading up to the interest rate decision meeting, Treasury yields moved lower before trending steadily higher following September's rate cut. In anticipation of rate cuts, the yield curve (the difference between a shorter-term bond and a longer-term bond, most often gauged by the two-year Treasury note and the 10-year Treasury note) narrowed. Intermediate maturity issues, those between three and five years for earlier term funds and those between seven and 10 years for later dated Term Funds, contributed to the Fund's performance during the reporting period. For both earlier and later dated Term Funds, exposure to bonds that are on the lower range of investment grade benefited performance. At the sector level, financial issues performed well across Term Funds, particularly among banking bonds that were supported by hopes of a lower interest rate environment.

What detracted from performance?

There were no notable detractors from the Fund's performance during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: June 22, 2021 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453462.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | 14.65% | (1.84)% |
| Bloomberg U.S. Universal Index | 11.20 | (1.55) |
| Bloomberg December 2031 Maturity Corporate Index | 14.64 | (1.82) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1142974611 |
| Number of Portfolio Holdings | &nbsp;&nbsp;420 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$814303 |
| Portfolio Turnover Rate | &nbsp;&nbsp;16% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was June 22, 2021.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Aaa | 1.3% |
| Aa | 4.4% |
| A | 30.4% |
| Baa | 56.4% |
| Ba | 4.0% |
| Not Rated | 2.5% |
| Short-Term and Other Assets | 1.0% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| Verizon Communications Inc., 2.55%, 03/21/31 | 1.1% |
| Oracle Corp., 2.88%, 03/25/31 | 1.0% |
| Orange SA, 9.00%, 03/01/31 | 1.0% |
| AT&T Inc., 2.75%, 06/01/31 | 0.9% |
| Amazon.com Inc., 2.10%, 05/12/31 | 0.8% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

On June 24, 2024, the Fund changed from non-diversified to diversified under the Investment Company Act of 1940 and removed the Non-Diversification Risk.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2031 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDW-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2034 Term Corporate ETF

### IBDZ \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2034 Term Corporate ETF (the "Fund") for the period of May 22, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2034 Term Corporate ETF | $5(a) | 0.10%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$176595498 |
| Number of Portfolio Holdings | &nbsp;&nbsp;369 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$40719 |
| Portfolio Turnover Rate | &nbsp;&nbsp;0% |

---

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Aaa | 0.3% |
| Aa | 5.6% |
| A | 30.0% |
| Baa | 58.9% |
| Ba | 2.7% |
| Not Rated | 0.7% |
| Short-Term and Other Assets | 1.8% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| AbbVie Inc., 5.05%, 03/15/34 | 1.0% |
| AT&T Inc., 5.40%, 02/15/34 | 0.9% |
| Broadcom Inc., 3.47%, 04/15/34 | 0.9% |
| Boeing Co. (The), 6.53%, 05/01/34 | 0.9% |
| Bristol-Myers Squibb Co., 5.20%, 02/22/34 | 0.9% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2034 Term Corporate ETF

Annual Shareholder Report — October 31, 2024

IBDZ-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2034 Term Treasury ETF

### IBTP \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2034 Term Treasury ETF (the "Fund") for the period of June 11, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares iBonds Dec 2034 Term Treasury ETF | $3(a) | 0.07%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$34327345 |
| Number of Portfolio Holdings | &nbsp;&nbsp;4 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$4662 |
| Portfolio Turnover Rate | &nbsp;&nbsp;61% |

---

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Aaa | 98.5% |
| Short-Term and Other Assets | 1.5% |

---

All holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br> Net Assets* |
| U.S. Treasury Note/Bond, 4.38%, 05/15/34 | 33.6% |
| U.S. Treasury Note/Bond, 4.00%, 02/15/34 | 32.6% |
| U.S. Treasury Note/Bond, 3.88%, 08/15/34 | 32.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2034 Term Treasury ETF

Annual Shareholder Report — October 31, 2024

IBTP-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2044 Term Treasury ETF

### IBGA \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2044 Term Treasury ETF (the "Fund") for the period of June 11, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds Dec 2044 Term Treasury ETF | $3(a) | 0.07%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$15213536 |
| Number of Portfolio Holdings | &nbsp;&nbsp;8 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2930 |
| Portfolio Turnover Rate | &nbsp;&nbsp;51% |

---

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Aaa | 98.1% |
| Short-Term and Other Assets | 1.9% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| U.S. Treasury Note/Bond, 4.63%, 05/15/44 | 22.8% |
| U.S. Treasury Note/Bond, 4.50%, 02/15/44 | 19.4% |
| U.S. Treasury Note/Bond, 3.13%, 08/15/44 | 12.5% |
| U.S. Treasury Note/Bond, 4.13%, 08/15/44 | 11.3% |
| U.S. Treasury Note/Bond, 3.63%, 02/15/44 | 11.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2044 Term Treasury ETF

Annual Shareholder Report — October 31, 2024

IBGA-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Dec 2054 Term Treasury ETF

### IBGK \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Dec 2054 Term Treasury ETF (the "Fund") for the period of June 11, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds Dec 2054 Term Treasury ETF | $3(a) | 0.07%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2526742 |
| Number of Portfolio Holdings | &nbsp;&nbsp;3 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$839 |
| Portfolio Turnover Rate | &nbsp;&nbsp;104% |

---

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Aaa | 98.3% |
| Short-Term and Other Assets | 1.7% |

---

All holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| U.S. Treasury Note/Bond, 4.63%, 05/15/54 | 34.1% |
| U.S. Treasury Note/Bond, 4.25%, 08/15/54 | 32.1% |
| U.S. Treasury Note/Bond, 4.25%, 02/15/54 | 32.1% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Dec 2054 Term Treasury ETF

Annual Shareholder Report — October 31, 2024

IBGK-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares iBonds Oct 2034 Term TIPS ETF

### IBIK \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares iBonds Oct 2034 Term TIPS ETF (the "Fund") for the period of May 22, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares iBonds Oct 2034 Term TIPS ETF | $4(a) | 0.10%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$8872207 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2180 |
| Portfolio Turnover Rate | &nbsp;&nbsp;50% |

---

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Aaa | 99.4% |
| Short-Term and Other Assets | 0.6% |

---

All holdings

---

| | |
|:---|:---|
| *Security<sup>(a)</sup>* | *Percent of<br>Net Assets* |
| U.S. Treasury Inflation Indexed Bonds, 1.75%, 01/15/34 | 57.9% |
| U.S. Treasury Inflation Indexed Bonds, 1.88%, 07/15/34 | 41.5% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares iBonds Oct 2034 Term TIPS ETF

Annual Shareholder Report — October 31, 2024

IBIK-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares International Treasury Bond ETF

### IGOV \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares International Treasury Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares International Treasury Bond ETF | $37 | 0.35% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 9.14%. 

* For the same period, the FTSE World Broad Investment-Grade Bond Index returned 9.98% and the FTSE World Government Bond Index - Developed Markets Capped Select Index returned 9.39%. 

What contributed to performance?

Treasury returns were supported during the reporting period by an environment of slowing pricing pressures. Amid worries about growth prospects, the European Central Bank cut rates three times, while the United States economy stayed strong, prompting the U.S. Federal Reserve Bank to wait until September before decreasing short-term interest rates for the first time since 2020. Euro bloc bonds were the Fund's strongest performers, led by Italy. Italian government debt benefited from the economic and fiscal strategy implemented by the country's new government. France's Treasury bonds were also meaningful contributors. By maturity, bonds over 10 years, which are the most sensitive to interest rate changes, registered the largest returns.

What detracted from performance?

During the reporting period, Japanese Treasuries slightly detracted from the Fund's performance. The country's government bonds declined as the Bank of Japan raised interest rates in March 2024, for the first time since 2007, ending a period of negative rates. The central bank then raised rates in July 2024 again, which pushed yields higher (bond prices and yields move in opposite directions).

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454364.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 9.14% | (4.44)% | (1.80)% |
| FTSE World Broad Investment-Grade Bond Index | 9.98 | (1.80) | 0.16 |
| FTSE World Government Bond Index - Developed Markets Capped Select Index | 9.39 | (4.16) | (1.47) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$515847041 |
| Number of Portfolio Holdings | &nbsp;&nbsp;825 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2066440 |
| Portfolio Turnover Rate | &nbsp;&nbsp;27% |

---

The Fund has added the FTSE World Broad Investment-Grade Bond Index in response to new regulatory requirements.

The performance of the FTSE World Government Bond Index – Developed Markets Capped Select Index in this report reflects the performance of the S&P International Sovereign Ex-U.S. Bond Index through August 31, 2020 and, beginning on September 1, 2020, the performance of the FTSE World Government Bond Index – Developed Markets Capped Select Index.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Aaa | 33.1% |
| Aa | 32.2% |
| A | 16.2% |
| Baa | 12.3% |
| Not Rated | 6.2% |

---

Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br> Investments<sup>(a)</sup>* |
| Japan | 12.9% |
| France | 8.5% |
| Italy | 8.0% |
| Germany | 6.7% |
| United Kingdom | 5.8% |
| Spain | 5.2% |
| Finland | 4.6% |
| Ireland | 4.6% |
| Portugal | 4.6% |
| Netherlands | 4.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE Fixed Income LLC, S&P Dow Jones Indices LLC and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares International Treasury Bond ETF

Annual Shareholder Report — October 31, 2024

IGOV-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Investment Grade Corporate Bond BuyWrite Strategy ETF

### LQDW \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Investment Grade Corporate Bond BuyWrite Strategy ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Investment Grade Corporate Bond BuyWrite Strategy ETF | $21 | 0.20% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 5.55%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Cboe LQD BuyWrite Index returned 6.05%. 

What contributed to performance?

Bond returns were supported by an environment of slowing pricing pressures and steady growth in the United States during the reporting period. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reserve lowered short-term interest rates by a 50 basis point cut, its first rate reduction since March 2020. During the reporting period, the strategy posted positive returns by seeking to track the investment results of an investment grade corporate index that reflects the iShares iBoxx $ Investment Grade Corporate Bond ETF while writing (selling) one-month covered call options to generate income. Over the reporting period, the financial sector contributed to the Fund's return, led by the banking sector which benefited from the prospect of lower interest rates. By credit rating, investment-grade securities, particularly those rated A by Moody's, were additive to performance. However, Baa-rated issues also contributed due to investors' increased risk appetite during the reporting period.

What detracted from performance?

During the reporting period, writing (selling) one-month covered call options to generate income detracted from the Fund's performance.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: August 18, 2022 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453701.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | 5.55% | (0.70)% |
| Bloomberg U.S. Universal Index | 11.20 | 2.06 |
| Cboe LQD BuyWrite Index | 6.05 | (0.27) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$212107331 |
| Number of Portfolio Holdings | &nbsp;&nbsp;3 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$355152 |
| Portfolio Turnover Rate | &nbsp;&nbsp;0% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was August 18, 2022.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of*<br>*Net Assets* |
| Investment Companies | 99.5% |
| Short-term Investments | 0.7% |
| Options Written | (0.1)% |
| Other assets less liabilities | (0.1)% |

---

---

| | |
|:---|:---|
| **Credit quality allocation (of the underlying fund)<sup>(a)</sup>** | **Credit quality allocation (of the underlying fund)<sup>(a)</sup>** |
| *Credit Rating<sup>(b)</sup>* | *Percent of Total<br>Investments<sup>(c)</sup>* |
| Aaa | 2.4% |
| Aa | 5.8% |
| A | 46.7% |
| Baa | 42.3% |
| Ba | 2.4% |
| Not Rated | 0.4% |

---

<u><sup></sup></u> <br> <u><sup></sup></u> <br> <u><sup></sup></u>

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The underlying fund is iShares iBoxx $ Investment Grade Corporate Bond ETF.</sup> |
| <sup><sup>(b)</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |
| <sup><sup>(c)</sup></sup><sup>Excludes money market funds.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, Cboe Global Indices, LLC and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Investment Grade Corporate Bond BuyWrite Strategy ETF

Annual Shareholder Report — October 31, 2024

LQDW-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares J.P. Morgan Broad USD Emerging Markets Bond ETF

### BEMB \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares J.P. Morgan Broad USD Emerging Markets Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares J.P. Morgan Broad USD Emerging Markets Bond ETF | $20 | 0.18% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 17.10%. 

* For the same period, the J.P. Morgan EMBI Global Diversified Index returned 18.16% and the J.P. Morgan EM Sovereign and Corporate Credit Core Index returned 17.36%. 

What contributed to performance?

Emerging market bonds delivered strong returns during the reporting period, particularly among sovereign bond issuers, which were leading contributors to the Fund's return. U.S. dollar-denominated emerging market debt is sensitive to rate changes in the United States, as many of these countries borrow in U.S. dollars and must repay the principal and interest in U.S. dollars. Expectations of interest rate cuts and then a cut by the U.S. Federal Reserve in September helped these bonds move higher. Across emerging markets, all regions gained, led by Latin America. In particular, efforts by Argentina's new administration to lower inflation improved investor sentiment and bolstered local bond markets. Longer-term duration bonds, those over 10 years, outpaced their shorter-term counterparts during the reporting period, followed by intermediate maturity bonds. While bonds of all credit ratings delivered positive performance, investment-grade bonds rated BBB had the greatest positive impact.

What detracted from performance?

There were no detractors from the Fund's return during the reporting period.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: February 22, 2023 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453401.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | 17.10% | 9.48% |
| J.P. Morgan EMBI Global Diversified Index | 18.16 | 10.39 |
| J.P. Morgan EM Sovereign and Corporate Credit Core Index | 17.36 | 9.65 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$47366459 |
| Number of Portfolio Holdings | &nbsp;&nbsp;294 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$75810 |
| Portfolio Turnover Rate | &nbsp;&nbsp;11% |

---

The Fund has added the J.P. Morgan EMBI Global Diversified Index in response to new regulatory requirements.

The inception date of the Fund was February 22, 2023.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Aaa | 0.5% |
| Aa | 7.4% |
| A | 17.7% |
| Baa | 33.2% |
| Ba | 15.6% |
| B | 8.5% |
| Caa | 6.0% |
| Ca | 0.5% |
| C | 0.1% |
| Not Rated | 10.5% |

---

Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| China | 6.2% |
| Saudi Arabia | 5.2% |
| Mexico | 5.0% |
| United Arab Emirates | 4.4% |
| Turkey | 4.0% |
| Brazil | 3.9% |
| Indonesia | 3.7% |
| Qatar | 3.1% |
| Chile | 3.0% |
| India | 2.9% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The contractual fee waiver was extended through February 28, 2029 and subsequently discontinued as of June 28, 2024.

Effective June 28, 2024, for its investment advisory services to the Fund, BlackRock Fund Advisors ("BFA") is entitled to an annual investment advisory fee of 0.18%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund. Prior to June 28, 2024, BFA was entitled to an annual investment advisory fee of 0.20%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by JPMorgan Chase & Co. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares J.P. Morgan Broad USD Emerging Markets Bond ETF

Annual Shareholder Report — October 31, 2024

BEMB-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares J.P. Morgan USD Emerging Markets Bond ETF

### EMB \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares J.P. Morgan USD Emerging Markets Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | $43 | 0.39% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 18.36%. 

* For the same period, the J.P. Morgan EMBI Global Diversified Index returned 18.16% and the J.P. Morgan EMBI<sup>®</sup> Global Core Index returned 18.68%. 

What contributed to performance?

Emerging market sovereign bonds were leading contributors to the Fund's return during the reporting period. Expectations of interest rate cuts and then a cut by the U.S. Federal Reserve in September helped these bonds move higher. Across emerging markets, all regions gained, led by Latin America. In particular, efforts by Argentina's new administration to lower inflation improved investor sentiment and bolstered local bond markets. In the Middle East, Egyptian bonds were bolstered on expectations that the country would receive billions in foreign loans and investments, potentially offsetting dismal economic growth and the threat of spillover from the war in Gaza. Longer-term duration bonds, those over 10 years, outpaced their shorter-term counterparts during the reporting period. While bonds of all credit ratings delivered positive performance, investment-grade bonds had the greatest positive impact.

What detracted from performance?

Venezuelan bonds detracted slightly from the Fund's performance during the reporting period, as the country's highly contested presidential election and economic crisis put downward pressure on bonds.

*The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454422.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 18.36% | 0.20% | 2.48% |
| J.P. Morgan EMBI Global Diversified Index | 18.16 | 0.47 | 2.92 |
| J.P. Morgan EMBI<sup>®</sup> Global Core Index | 18.68 | 0.33 | 2.80 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$14884578836 |
| Number of Portfolio Holdings | &nbsp;&nbsp;638 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$58337323 |
| Portfolio Turnover Rate | &nbsp;&nbsp;12% |

---

The Fund has added the J.P. Morgan EMBI Global Diversified Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Aaa | 1.0% |
| Aa | 7.2% |
| A | 15.7% |
| Baa | 31.8% |
| Ba | 17.5% |
| B | 9.9% |
| Caa | 8.6% |
| Ca | 0.9% |
| C | 0.1% |
| Not Rated | 7.3% |

---

Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Saudi Arabia | 5.9% |
| Mexico | 5.7% |
| Turkey | 4.9% |
| Indonesia | 4.8% |
| United Arab Emirates | 4.7% |
| Qatar | 3.9% |
| Brazil | 3.6% |
| Philippines | 3.4% |
| Poland | 3.4% |
| Chile | 3.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by JPMorgan Chase & Co. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares J.P. Morgan USD Emerging Markets Bond ETF

Annual Shareholder Report — October 31, 2024

EMB-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Russell 2000 BuyWrite ETF

### IWMW \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Russell 2000 BuyWrite ETF (the "Fund") for the period of March 14, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares Russell 2000 BuyWrite ETF | $13(a) | 0.20%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

How did the Fund perform during the period?

* For the reporting period ended October 31, 2024, the Fund returned 2.26%. 

* For the same period, the iShares Russell 2000 ETF returned 8.92% and the Cboe FTSE Russell IWM 2% OTM BuyWrite Index returned 1.94%. 

What contributed to performance?

During the reporting period, equity markets registered remarkably strong gains and contributed to the Fund's return amid increasing investor confidence, limited volatility, and slowing inflation. Declining yields and solid economic growth resulted in a broad equity rally that extended to include small-cap stocks, which have historically done well in periods of moderating inflation. Investor appetite for equities continued to increase when the U.S. Federal Reserve Bank lowered short-term interest rates by 50 basis points in September, a larger-than-expected rate cut and the first since March 2020.

By selling monthly options, the Fund generates option premium, which it distributes to investors monthly. The level of this premium is influenced by market-implied volatility.

What detracted from performance?

Against this backdrop, the Russell 2000 Index rallied in the second half of the year, and the iShares Russell 2000 BuyWrite ETF participated in a portion of these gains. However, as the Fund sells monthly call options approximately 2% out of the money, its price returns were capped, limiting participation in upside beyond the 2% call strike.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: March 14, 2024 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453341.jpg)

See "Average annual total returns" for additional information on fund performance.

#### Average annual total returns
As of the date of this report, the Fund does not have a full fiscal year of performance information to report.

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$18975919 |
| Number of Portfolio Holdings | &nbsp;&nbsp;3 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$21022 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

The Fund has added the Russell 3000<sup>®</sup> Index in response to new regulatory requirements.

The inception date of the Fund was March 14, 2024.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of*<br> *Net Assets* |
| Investment Companies | 99.4% |
| Short-term Investments | 1.1% |
| Options Written | (0.5)% |

---

---

| | |
|:---|:---|
| **Sector allocation (of the underlying fund)<sup>(a)</sup>** | **Sector allocation (of the underlying fund)<sup>(a)</sup>** |
| *Sector* | *Percent of Total<br> Investments<sup>(b)</sup>* |
| Financials | 18.7% |
| Health Care | 17.4% |
| Industrials | 17.1% |
| Information Technology | 12.6% |
| Consumer Discretionary | 9.8% |
| Real Estate | 6.3% |
| Energy | 5.2% |
| Materials | 4.6% |
| Consumer Staples | 2.8% |
| Utilities | 2.8% |
| Communication Services | 2.7% |

---

<sup><sup>(a)</sup></sup> <sup>The underlying fund is iShares Russell 2000 ETF.</sup> <br> <sup><sup>(b)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE Russell, Cboe Global Indices, LLC and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Russell 2000 BuyWrite ETF

Annual Shareholder Report — October 31, 2024

IWMW-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares S&P 500 BuyWrite ETF

### IVVW \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares S&P 500 BuyWrite ETF (the "Fund") for the period of March 14, 2024 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares S&P 500 BuyWrite ETF | $14(a) | 0.22%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

How did the Fund perform during the period?

* For the reporting period ended October 31, 2024, the Fund returned 7.66%. 

* For the same period, the iShares Core S&P 500 ETF returned 11.65% and the Cboe S&P 500 Enhanced 1% OTM BuyWrite Index returned 7.75%. 

What contributed to performance?

During the reporting period, equity markets registered remarkably strong gains and contributed to the Fund's return amid increasing investor confidence, solid economic growth, limited volatility, and slowing inflation. For most of the reporting period, higher interest rates benefited mega- and large-cap stocks due to their less cyclical and rate-sensitive nature as well as their higher quality. Investor appetite for equities continued to increase when the U.S. Federal Reserve Bank lowered short-term interest rates by 50 basis points in September, a larger-than-expected rate cut and the first since March 2020.

By selling monthly options, the Fund generates option premium, which it distributes to investors monthly. The level of this premium is influenced by market-implied volatility.

What detracted from performance?

Against this backdrop, the S&P 500 Index rallied throughout much of the year, and the iShares S&P 500 BuyWrite ETF participated in a portion of these gains. However, as the Fund sells monthly call options approximately 1% out of the money, its price returns were capped, limiting participation in S&P 500 upside beyond the 1% call strike.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: March 14, 2024 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453342.jpg)

See "Average annual total returns" for additional information on fund performance.

#### Average annual total returns
As of the date of this report, the Fund does not have a full fiscal year of performance information to report.

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$26400497 |
| Number of Portfolio Holdings | &nbsp;&nbsp;3 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$27096 |
| Portfolio Turnover Rate | &nbsp;&nbsp;1% |

---

The Fund has added the S&P Total Market Index in response to new regulatory requirements.

The inception date of the Fund was March 14, 2024.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of*<br> *Net Assets* |
| Investment Companies | 99.5% |
| Short-term Investments | 0.8% |
| Options Written | (0.3)% |

---

---

| | |
|:---|:---|
| **Sector allocation (of the underlying fund)<sup>(a)</sup>** | **Sector allocation (of the underlying fund)<sup>(a)</sup>** |
| *Sector* | *Percent of Total<br> Investments<sup>(b)</sup>* |
| Information Technology | 31.8% |
| Financials | 13.1% |
| Health Care | 11.2% |
| Consumer Discretionary | 10.1% |
| Communication Services | 9.1% |
| Industrials | 8.5% |
| Consumer Staples | 5.8% |
| Energy | 3.4% |
| Utilities | 2.5% |
| Real Estate | 2.3% |
| Materials | 2.2% |

---

<sup><sup>(a)</sup></sup> <sup>The underlying fund is iShares Core S&P 500 ETF.</sup> <br> <sup><sup>(b)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices LLC, Cboe Global Indices, LLC and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares S&P 500 BuyWrite ETF

Annual Shareholder Report — October 31, 2024

IVVW-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares Treasury Floating Rate Bond ETF

### TFLO \| NYSE Arca

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares Treasury Floating Rate Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares Treasury Floating Rate Bond ETF | $15 | 0.15% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 5.29%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg U.S. Treasury Floating Rate Index returned 5.45%. 

What contributed to performance?

U.S. Treasury saw modest gains during the reporting period amid expectations and then the realization of an interest rate cut by the U.S. Federal Reserve. For the first time since March 2020, the central bank lowered short-term interest rates, announcing a 50-basis point cut. Leading up to the interest rate decision meeting, Treasury yields moved lower but have trended steadily higher following September's rate cut, and the 10-year Treasury ultimately ending the period at 4.28%, down from 4.93%, while the yield on the three-month Treasury note sank to 4.54% from 5.46% a year earlier. (Bond prices and yields move in opposite directions.) Treasury floating rate notes are issued with maturities of two years and coupons that reset periodically based on the three-month Treasury bill rate.

What detracted from performance?

There were no significant detractors from the Fund's return during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 1, 2014 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454120.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 5.29% | 2.44% | 1.72% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.82 |
| Bloomberg U.S. Treasury Floating Rate Index | 5.45 | 2.59 | 1.84 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$6998857593 |
| Number of Portfolio Holdings | &nbsp;&nbsp;9 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$12258350 |
| Portfolio Turnover Rate | &nbsp;&nbsp;28% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total<br> Investments*<sup>(a)</sup>* |
| 0-1 Year | 49.0% |
| 1-2 Years | 51.0% |

---

Five largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total <br> Investments<sup>(a)</sup>* |
| U.S. Treasury Floating Rate Note, 4.69%, 07/31/25 | 14.6% |
| U.S. Treasury Floating Rate Note, 4.77%, 10/31/26 | 14.4% |
| U.S. Treasury Floating Rate Note, 4.73%, 10/31/25 | 13.6% |
| U.S. Treasury Floating Rate Note, 4.81%, 01/31/26 | 13.1% |
| U.S. Treasury Floating Rate Note, 4.71%, 04/30/26 | 12.4% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares Treasury Floating Rate Bond ETF

Annual Shareholder Report — October 31, 2024

TFLO-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares U.S. Fixed Income Balanced Risk Systematic ETF

### FIBR \| Cboe BZX Exchange

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares U.S. Fixed Income Balanced Risk Systematic ETF (the "Fund") (formerly known as iShares U.S. Fixed Income Balanced Risk Factor ETF) for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares U.S. Fixed Income Balanced Risk Systematic ETF | $27 | 0.25% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 12.04%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg U.S. Fixed Income Balanced Risk Index returned 12.16%. 

What contributed to performance?

Bond returns were supported by an environment of slowing pricing pressures and steady growth in the United States. Expectations for interest rate cuts grew, and those hopes were realized in September 2024 when the U.S. Federal Reverse lowered short-term interest rates by a 50 basis point cut, its first rate reduction since March 2020. By sector, industrial bonds, supported by consumer cyclical and communication, and banking bonds contributed to performance. Investment-grade bonds rated A and Baa by Moody's were meaningful contributors.

What detracted from performance?

There were no significant detractors to the Fund's performance during the reporting period.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: February 24, 2015 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5454062.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 12.04% | 0.29% | 1.82% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.71 |
| Bloomberg U.S. Fixed Income Balanced Risk Index | 12.16 | 0.49 | 2.00 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$69760430 |
| Number of Portfolio Holdings | &nbsp;&nbsp;940 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$160858 |
| Portfolio Turnover Rate | &nbsp;&nbsp;453% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was February 24, 2015.

The performance of the Bloomberg U.S. Fixed Income Balanced Risk Index in this report reflects the performance of the Bloomberg Barclays U.S. Aggregate Bond Index through February 4, 2018 and, beginning on February 5, 2018, the performance of the Bloomberg U.S. Fixed Income Balanced Risk Index.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Aaa | 5.9% |
| Aa | 0.9% |
| A | 40.3% |
| Baa | 33.4% |
| Ba | 8.0% |
| B | 8.5% |
| Caa | 2.0% |
| Ca | 0.2% |
| Not Rated | 0.8% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 0-1 Year | 3.0% |
| 1-5 Years | 42.7% |
| 5-10 Years | 32.1% |
| 10-15 Years | 1.0% |
| 15-20 Years | 2.4% |
| More than 20 Years | 18.8% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

Effective January 26, 2024, the name of the Fund was changed from iShares U.S. Fixed Income Balanced Risk Factor ETF to iShares U.S. Fixed Income Balanced Risk Systematic ETF.

BlackRock Fund Advisors ("BFA") has contractually agreed to waive a portion of its investment advisory fee for the Fund in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investments in other registered investment companies advised by BFA or its affiliates. The contractual fee waiver has been extended through February 28, 2029.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares U.S. Fixed Income Balanced Risk Systematic ETF

Annual Shareholder Report — October 31, 2024

FIBR-10/24-AR

![TSR - BLK iShares Logo](g938995images_4580.jpg)

### iShares USD Green Bond ETF

### BGRN \| NASDAQ

#### Annual Shareholder Report — October 31, 2024

------

This annual shareholder report contains important information about iShares USD Green Bond ETF (the "Fund") for the period of November 1, 2023 to October 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| iShares USD Green Bond ETF | $21 | 0.20% |

---

How did the Fund perform last year?

* For the reporting period ended October 31, 2024, the Fund returned 10.74%. 

* For the same period, the Bloomberg U.S. Universal Index returned 11.20% and the Bloomberg MSCI USD Green Bond Select Index returned 10.87%. 

What contributed to performance?

Longer-term green bonds meaningfully contributed to the Fund's return during the reporting period. Bond returns were supported by an environment of slowing pricing pressures and steady growth in the United States as expectations for interest rate cuts grew. In September 2024, the U.S. Federal Reserve lowered short-term interest rates by 50 basis point cut, its first-rate reduction since March 2020. In terms of credit quality, A and BBB rated bonds were the largest contributors. Utility corporate bonds had a positive impact on performance, as did real estate investment trusts ("REITs") and banking in the financial sector.

What detracted from performance?

During the reporting period, there were no meaningful detractors from the Fund's return.

 *The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.* 

#### Fund performance
Cumulative performance: November 13, 2018 through October 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g938995chartimages_5453761.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br> Inception* |
| Fund NAV | 10.74% | (0.27)% | 1.68% |
| Bloomberg U.S. Universal Index | 11.20 | 0.18 | 1.95 |
| Bloomberg MSCI USD Green Bond Select Index | 10.87 | (0.09) | 1.84 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$387179813 |
| Number of Portfolio Holdings | &nbsp;&nbsp;351 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$703264 |
| Portfolio Turnover Rate | &nbsp;&nbsp;21% |

---

The Fund has added the Bloomberg U.S. Universal Index in response to new regulatory requirements.

The inception date of the Fund was November 13, 2018.

The performance of the Bloomberg MSCI USD Green Bond Select Index in this report reflects the performance of the Bloomberg MSCI Global Green Bond Select (USD Hedged) Index through February 28, 2022 and, beginning on March 1, 2022, the performance of the Bloomberg MSCI USD Green Bond Select Index.

 **Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of October 31, 2024)

Credit quality allocation

---

| | |
|:---|:---|
| *Moody's Credit Rating<sup>\*</sup>* | &nbsp;&nbsp;*Percent of Total<br> Investments<sup>(a)</sup>* |
| Aaa | 14.8% |
| Aa | 14.9% |
| A | 30.3% |
| Baa | 31.8% |
| Ba | 1.6% |
| Not Rated | 6.6% |

---

Maturity allocation

---

| | |
|:---|:---|
| *Maturity* | *Percent of Total*<br> *Investments*<sup>(a)</sup>* |
| 0-1 Year | 9.2% |
| 1-5 Years | 42.6% |
| 5-10 Years | 33.3% |
| 10-15 Years | 1.9% |
| 15-20 Years | 0.7% |
| More than 20 Years | 12.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Excludes money market funds.</sup> |
| <sup><sup>\*</sup></sup><sup>Credit quality ratings shown reflect the ratings assigned by Moody's Investors Service ("Moody's"), a widely used independent, nationally recognized statistical rating organization. Moody's credit ratings are opinions of the credit quality of individual obligations or of an issuer's general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.</sup> |

---

#### Material Fund Changes
This is a summary of certain changes to the Fund since October 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after October 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The net expense ratio increased from the prior fiscal year end primarily due to the discontinuation of a voluntary fee waiver during the prior fiscal year.

#### Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g938995images_4581.jpg)

iShares USD Green Bond ETF

Annual Shareholder Report — October 31, 2024

BGRN-10/24-AR

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

---

| | |
|:---|:---|
| Item 2 – | Code of Ethics – The registrant has adopted a code of ethics, as of the end of the period covered by this report, applicable to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. During the period covered by this report, the registrant has not amended the code of ethics and there have been no waivers granted under the code of ethics. The registrant undertakes to provide a copy of the code of ethics to any person upon request, without charge, by calling 1-800-474-2737.  |

---

Item 3 – Audit Committee Financial Expert –The registrant's board of trustees (the "board of trustees"), has determined that (i) the registrant has the following audit committee financial experts serving on its audit committee and (ii) each audit committee financial expert is independent:

Richard L. Fagnani

Madhav V. Rajan

Under applicable securities laws, a person determined to be an audit committee financial expert will not be deemed an "expert" for any purpose, including without limitation for the purposes of Section 11 of the Securities Act of 1933, as a result of being designated or identified as an audit committee financial expert. The designation or identification of a person as an audit committee financial expert does not impose on such person any duties, obligations, or liabilities greater than the duties, obligations, and liabilities imposed on such person as a member of the audit committee and board of trustees in the absence of such designation or identification. The designation or identification of a person as an audit committee financial expert does not affect the duties, obligations, or liability of any other member of the audit committee or board of trustees.

Item 4 – Principal Accountant Fees and Services.

The principal accountant fees disclosed in items 4(a), 4(b), 4(c), 4(d) and 4(g) are for the forty-four series of the registrant for which the fiscal year-end is October 31, 2024 (the "Funds"), and whose annual financial statements are reported in Item 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Audit Fees</u> – The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the Funds' annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $1,000,950 for the fiscal year ended October 31, 2023 and $608,550 for the fiscal year ended October 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Audit-Related Fees</u> – There were no fees billed for the fiscal years ended October 31, 2023 and October 31, 2024 for assurance and related services by the principal accountant that were reasonably related to the performance of the audit of the Funds' financial statements and are not reported under (a) of this Item.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Tax Fees</u> – The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning for the Funds were $717,800 for the fiscal year ended October 31, 2023 and $426,800 for the fiscal year ended October 31, 2024. These services related to the review of the Funds' tax returns and excise tax calculations.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>All Other Fees</u> – There were no other fees billed in each of the fiscal years ended October 31, 2023 and October 31, 2024 for products and services provided by the principal accountant, other than the services reported in (a) through (c) of this Item.

(e)(1) <u>Audit Committee Pre-Approval Policies and Procedures</u> – The registrant's audit committee charter, as amended, provides that the audit committee is responsible for the approval, prior to appointment, of the engagement of the principal accountant to annually audit and provide their opinion on the registrant's financial statements. The audit committee must also approve, prior to appointment, the engagement of the principal accountant to provide non-audit services to the registrant or to any entity controlling, controlled by or under common control with the registrant's investment adviser ("Adviser Affiliate") that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant.

(e)(2) None of the services described in each of Items 4(b) through (d) were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Not applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The aggregate non-audit fees billed by the registrant's principal accountant for services rendered to the Funds, and rendered to the registrant's investment adviser, and any Adviser Affiliate that provides ongoing services to the registrant for the last two fiscal years were $717,800 for the fiscal year ended October 31, 2023 and $426,800 for the fiscal year ended October 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The registrant's audit committee has considered whether the provision of non-audit services rendered to the registrant's investment adviser and any Adviser Affiliate that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, if any, is compatible with maintaining the principal accountant's independence, and has determined that the provision of these services, if any, does not compromise the principal accountant's independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable

Item 5 – Audit Committee of Listed Registrant

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following individuals are members of the registrant's separately designated standing Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(58)(A)):

Richard L. Fagnani

Laura F. Fergerson

Cecilia H. Herbert

Madhav V. Rajan

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

#### 2

------

Item 6 – Investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's Schedule of Investments is included as part of the Financial Statements and Financial Highlights for Open-End Management Investment Companies filed under Item 7 of this Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.

Item 7 – Financial Statements and Financial Highlights for Open-End Management Investment Companies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's Financial Statements are attached herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The registrant's Financial Highlights are attached herewith.

#### 3

------

October 31, 2024

![](g938995img053a29b51.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares iBonds 2024 Term High Yield and Income ETF \| IBHD \| Cboe BZX Exchange |
| • iShares iBonds 2025 Term High Yield and Income ETF \| IBHE \| Cboe BZX Exchange |
| • iShares iBonds 2026 Term High Yield and Income ETF \| IBHF \| Cboe BZX Exchange |
| • iShares iBonds 2027 Term High Yield and Income ETF \| IBHG \| Cboe BZX Exchange |
| • iShares iBonds 2031 Term High Yield and Income ETF \| IBHK \| Cboe BZX Exchange |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 26 |
| [Statements of Operations](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 28 |
| [Statements of Changes in Net Assets](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 30 |
| [Financial Highlights](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_FS-Footer-iSharesReport_8)  | &nbsp;&nbsp; 33 |
| [Notes to Financial Statements](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 38 |
| [Report of Independent Registered Public Accounting Firm](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 47 |
| [Important Tax Information](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 48 |
| [Additional Information](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_SAI-Footer-iSharesReport-1300_1)  | &nbsp;&nbsp; 49 |
| [Board Review and Approval of Investment Advisory Contract](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 50 |
| [Glossary of Terms Used in this Report](#xx_1e9ea16a-2508-4f6b-91ef-1a6e22abda35_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 54 |

---

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® 2024 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.3%** | **Advertising — 0.3%** | **Advertising — 0.3%** |
| Omnicom Group Inc./Omnicom Capital Inc., 3.65%, <br> 11/01/24<br>| &nbsp;&nbsp; $875 | $875000 |
| **Auto Manufacturers — 1.5%** | **Auto Manufacturers — 1.5%** | **Auto Manufacturers — 1.5%** |
| Ford Motor Credit Co. LLC, 4.06%, 11/01/24 | &nbsp;&nbsp; 3405 | 3405000 |
| General Motors Financial Co. Inc., 3.50%, 11/07/24 | &nbsp;&nbsp; 1545 | 1544405 |
|  |  | 4949405 |
| **Banks — 0.8%** | **Banks — 0.8%** | **Banks — 0.8%** |
| Lloyds Banking Group PLC, 4.50%, 11/04/24 | &nbsp;&nbsp; 2770 | 2770000 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Constellation Brands Inc., 4.75%, 11/15/24 | &nbsp;&nbsp; 290 | 289901 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| Owens Corning, 4.20%, 12/01/24 | &nbsp;&nbsp; 290 | 289662 |
| Trane Technologies Financing Ltd., 3.55%, 11/01/24 | &nbsp;&nbsp; 420 | 420000 |
|  |  | 709662 |
| **Chemicals — 2.6%** | **Chemicals — 2.6%** | **Chemicals — 2.6%** |
| Methanex Corp., 4.25%, 12/01/24<sup>(a)</sup> | &nbsp;&nbsp; 7739 | 7722576 |
| Nutrien Ltd., 5.90%, 11/07/24 | &nbsp;&nbsp; 1046 | 1046101 |
|  |  | 8768677 |
| **Commercial Services — 0.7%** | **Commercial Services — 0.7%** | **Commercial Services — 0.7%** |
| Equifax Inc., 2.60%, 12/01/24 | &nbsp;&nbsp; 1475 | 1471480 |
| Global Payments Inc., 1.50%, 11/15/24 | &nbsp;&nbsp; 990 | 988469 |
|  |  | 2459949 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| Genpact Luxembourg SARL, 3.38%, 12/01/24 | &nbsp;&nbsp; 340 | 339192 |
| **Cosmetics & Personal Care — 2.8%** | **Cosmetics & Personal Care — 2.8%** | **Cosmetics & Personal Care — 2.8%** |
| Perrigo Finance Unlimited Co., 3.90%, 12/15/24 | &nbsp;&nbsp; 9340 | 9317444 |
| **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** |
| Wesco Aircraft Holdings Inc., 8.50%, 11/15/24<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 448 | 67181 |
| **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** |
| Discover Financial Services, 3.95%, 11/06/24 | &nbsp;&nbsp; 1015 | 1015000 |
| ORIX Corp., 3.25%, 12/04/24 | &nbsp;&nbsp; 1125 | 1122463 |
|  |  | 2137463 |
| **Electric — 1.7%** | **Electric — 1.7%** | **Electric — 1.7%** |
| Avangrid Inc., 3.15%, 12/01/24 | &nbsp;&nbsp; 1216 | 1213741 |
| DTE Energy Co., 4.22%, 11/01/24<sup>(e)</sup> | &nbsp;&nbsp; 2980 | 2980000 |
| Edison International, 3.55%, 11/15/24 | &nbsp;&nbsp; 995 | 994203 |
| Interstate Power & Light Co., 3.25%, 12/01/24<sup>(a)</sup> | &nbsp;&nbsp; 465 | 463997 |
|  |  | 5651941 |
| **Electronics — 0.1%** | **Electronics — 0.1%** | **Electronics — 0.1%** |
| Trimble Inc., 4.75%, 12/01/24<sup>(a)</sup> | &nbsp;&nbsp; 355 | 354572 |
| **Engineering & Construction — 1.3%** | **Engineering & Construction — 1.3%** | **Engineering & Construction — 1.3%** |
| Fluor Corp., 3.50%, 12/15/24<sup>(a)</sup> | &nbsp;&nbsp; 4500 | 4484093 |
| **Entertainment — 2.9%** | **Entertainment — 2.9%** | **Entertainment — 2.9%** |
| Live Nation Entertainment Inc., 4.88%, 11/01/24<sup>(b)</sup> | &nbsp;&nbsp; 9857 | 9857000 |
| **Health Care - Products — 2.2%** | **Health Care - Products — 2.2%** | **Health Care - Products — 2.2%** |
| Baxter International Inc., 1.32%, 11/29/24 | &nbsp;&nbsp; 2720 | 2710575 |
| GE HealthCare Technologies Inc., 5.55%, 11/15/24 | &nbsp;&nbsp; 3025 | 3025271 |
| Zimmer Biomet Holdings Inc., 1.45%, 11/22/24 | &nbsp;&nbsp; 1675 | 1671287 |
|  |  | 7407133 |
| **Health Care - Services — 1.1%** | **Health Care - Services — 1.1%** | **Health Care - Services — 1.1%** |
| Aetna Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 1485 | 1483693 |
| Elevance Health Inc., 3.35%, 12/01/24 | &nbsp;&nbsp; 1665 | 1661689 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Laboratory Corp. of America Holdings, 2.30%, <br> 12/01/24<br>| &nbsp;&nbsp; $695 | $693148 |
|  |  | 3838530 |
| **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** |
| Blackstone Private Credit Fund, 2.35%, 11/22/24 | &nbsp;&nbsp; 1690 | 1685496 |
| Sixth Street Specialty Lending Inc., 3.88%, 11/01/24 | &nbsp;&nbsp; 740 | 740000 |
|  |  | 2425496 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Leggett & Platt Inc., 3.80%, 11/15/24 | &nbsp;&nbsp; 190 | 189879 |
| **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |
| First American Financial Corp., 4.60%, 11/15/24 | &nbsp;&nbsp; 235 | 234495 |
| **Internet — 0.0%** | **Internet — 0.0%** | **Internet — 0.0%** |
| Rakuten Group Inc., 10.25%, 11/30/24<sup>(b)</sup> | &nbsp;&nbsp; 30 | 30109 |
| **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** |
| Steel Dynamics Inc., 2.80%, 12/15/24 | &nbsp;&nbsp; 335 | 333993 |
| **Leisure Time — 1.9%** | **Leisure Time — 1.9%** | **Leisure Time — 1.9%** |
| NCL Corp. Ltd., 3.63%, 12/15/24<sup>(a)(b)</sup> | &nbsp;&nbsp; 6597 | 6576072 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| Carlisle Companies Inc., 3.50%, 12/01/24 | &nbsp;&nbsp; 370 | 369384 |
| Parker-Hannifin Corp., 3.30%, 11/21/24 | &nbsp;&nbsp; 358 | 357614 |
|  |  | 726998 |
| **Media — 3.1%** | **Media — 3.1%** | **Media — 3.1%** |
| DISH DBS Corp., 5.88%, 11/15/24 | &nbsp;&nbsp; 10413 | 10326668 |
| **Mining — 0.3%** | **Mining — 0.3%** | **Mining — 0.3%** |
| Freeport-McMoRan Inc., 4.55%, 11/14/24 | &nbsp;&nbsp; 1085 | 1084578 |
| **Pharmaceuticals — 0.6%** | **Pharmaceuticals — 0.6%** | **Pharmaceuticals — 0.6%** |
| Becton Dickinson & Co., 3.73%, 12/15/24 | &nbsp;&nbsp; 1705 | 1701197 |
| Cardinal Health Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 270 | 269798 |
|  |  | 1970995 |
| **Pipelines — 1.8%** | **Pipelines — 1.8%** | **Pipelines — 1.8%** |
| Boardwalk Pipelines LP, 4.95%, 12/15/24 | &nbsp;&nbsp; 1207 | 1205983 |
| Eastern Energy Gas Holdings LLC |  |  |
| 3.60%, 12/15/24 | &nbsp;&nbsp; 325 | 324258 |
| Series A, 2.50%, 11/15/24 | &nbsp;&nbsp; 620 | 619314 |
| MPLX LP, 4.88%, 12/01/24 | &nbsp;&nbsp; 2240 | 2238892 |
| Plains All American Pipeline LP/PAA Finance Corp., <br> 3.60%, 11/01/24<br>| &nbsp;&nbsp; 1580 | 1580000 |
|  |  | 5968447 |
| **Real Estate Investment Trusts — 0.8%** | **Real Estate Investment Trusts — 0.8%** | **Real Estate Investment Trusts — 0.8%** |
| Equinix Inc., 2.63%, 11/18/24 | &nbsp;&nbsp; 2280 | 2277071 |
| Kilroy Realty LP, 3.45%, 12/15/24 | &nbsp;&nbsp; 375 | 373740 |
|  |  | 2650811 |
| **Retail — 2.7%** | **Retail — 2.7%** | **Retail — 2.7%** |
| AutoNation Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 365 | 364702 |
| Walgreens Boots Alliance Inc., 3.80%, 11/18/24 | &nbsp;&nbsp; 8825 | 8814966 |
|  |  | 9179668 |
| **Software — 1.8%** | **Software — 1.8%** | **Software — 1.8%** |
| Oracle Corp., 2.95%, 11/15/24 | &nbsp;&nbsp; 6085 | 6080403 |
| **Telecommunications — 0.8%** | **Telecommunications — 0.8%** | **Telecommunications — 0.8%** |
| Verizon Communications Inc., 3.50%, 11/01/24 | &nbsp;&nbsp; 2630 | 2630000 |
| **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** |
| Hasbro Inc., 3.00%, 11/19/24 | &nbsp;&nbsp; 444 | 443357 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2024 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation — 0.9%** | **Transportation — 0.9%** | **Transportation — 0.9%** |
| Canadian Pacific Railway Co., 1.35%, 12/02/24 | &nbsp;&nbsp; $2925 | $2915686 |
| **Total Long-Term Investments — 35.0%** <br>**(Cost: $118,493,958)** | **Total Long-Term Investments — 35.0%** <br>**(Cost: $118,493,958)** | 118044798 |
|  | *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 67.3%** | **Money Market Funds — 67.3%** | **Money Market Funds — 67.3%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 8759994 | 8766126 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 217820000 | 217820000 |
| **Total Short-Term Securities — 67.3%** <br>**(Cost: $226,577,882)** | **Total Short-Term Securities — 67.3%** <br>**(Cost: $226,577,882)** | 226586126 |
| **Total Investments — 102.3%** <br>**(Cost: $345,071,840)** | **Total Investments — 102.3%** <br>**(Cost: $345,071,840)** | 344630924 |
| **Liabilities in Excess of Other Assets — (2.3)%** | **Liabilities in Excess of Other Assets — (2.3)%** | (7905353)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $336725571 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(d)</sup> Non-income producing security.

<sup>(e)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| $23643229 | $— | &nbsp;&nbsp; $(14884055 )<sup>(a)</sup><br>| &nbsp;&nbsp; $10208 | $(3256)<br>| $8766126 | 8759994 | $187016 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, <br> SL Agency Shares<br>| 5190000 | 212630000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 217820000 | 217820000 | 3038486 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $10208 | $(3256)<br>| $226586126 |  | $3225502 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $118044798 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $118044798 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2024 Term High Yield and Income ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $226586126 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $226586126 |
|  | &nbsp;&nbsp; $226586126 | &nbsp;&nbsp; $118044798 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $344630924 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® 2025 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** |
| Boeing Co. (The) |  |  |
| 2.60%, 10/30/25<sup>(a)</sup> | &nbsp;&nbsp; $200 | $195264 |
| 4.88%, 05/01/25 | &nbsp;&nbsp; 2465 | 2458338 |
| GE Capital International Funding Co. Unlimited Co., <br> 3.37%, 11/15/25<br>| &nbsp;&nbsp; 730 | 718826 |
| Hexcel Corp., 4.95%, 08/15/25 | &nbsp;&nbsp; 155 | 154463 |
| L3Harris Technologies Inc., 3.83%, 04/27/25 | &nbsp;&nbsp; 205 | 203857 |
| Northrop Grumman Corp., 2.93%, 01/15/25 | &nbsp;&nbsp; 630 | 627086 |
| RTX Corp., 3.95%, 08/16/25<sup>(a)</sup> | &nbsp;&nbsp; 625 | 621078 |
|  |  | 4978912 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| Altria Group Inc., 2.35%, 05/06/25 | &nbsp;&nbsp; 325 | 320635 |
| Bunge Ltd. Finance Corp., 1.63%, 08/17/25 | &nbsp;&nbsp; 255 | 248655 |
| Reynolds American Inc., 4.45%, 06/12/25 | &nbsp;&nbsp; 850 | 846823 |
|  |  | 1416113 |
| **Airlines — 2.2%** | **Airlines — 2.2%** | **Airlines — 2.2%** |
| American Airlines Group Inc., 3.75%, 03/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 7161 | 7103766 |
| Southwest Airlines Co., 5.25%, 05/04/25 | &nbsp;&nbsp; 680 | 680193 |
| United Airlines Holdings Inc., 4.88%, 01/15/25 | &nbsp;&nbsp; 5235 | 5223484 |
| United Airlines Pass-Through Trust, Series 2013-1, <br> Class A, 4.30%, 08/15/25<br>| &nbsp;&nbsp; 90 | 89031 |
|  |  | 13096474 |
| **Apparel — 1.9%** | **Apparel — 1.9%** | **Apparel — 1.9%** |
| PVH Corp., 4.63%, 07/10/25<sup>(a)</sup> | &nbsp;&nbsp; 265 | 263647 |
| Tapestry Inc. |  |  |
| 4.25%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 150 | 149183 |
| 7.05%, 11/27/25<sup>(a)</sup> | &nbsp;&nbsp; 365 | 370049 |
| VF Corp., 2.40%, 04/23/25 | &nbsp;&nbsp; 10605 | 10468942 |
|  |  | 11251821 |
| **Auto Manufacturers — 3.2%** | **Auto Manufacturers — 3.2%** | **Auto Manufacturers — 3.2%** |
| Ford Motor Credit Co. LLC |  |  |
| 2.30%, 02/10/25 | &nbsp;&nbsp; 520 | 515332 |
| 3.38%, 11/13/25 | &nbsp;&nbsp; 2350 | 2305028 |
| 4.13%, 08/04/25 | &nbsp;&nbsp; 1045 | 1035732 |
| 4.69%, 06/09/25 | &nbsp;&nbsp; 235 | 233955 |
| 5.13%, 06/16/25 | &nbsp;&nbsp; 1200 | 1197010 |
| General Motors Co. |  |  |
| 4.00%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 200 | 199013 |
| 6.13%, 10/01/25 | &nbsp;&nbsp; 1125 | 1135119 |
| General Motors Financial Co. Inc. |  |  |
| 2.75%, 06/20/25 | &nbsp;&nbsp; 405 | 399056 |
| 2.90%, 02/26/25 | &nbsp;&nbsp; 225 | 223357 |
| 3.80%, 04/07/25 | &nbsp;&nbsp; 320 | 318149 |
| 4.00%, 01/15/25 | &nbsp;&nbsp; 300 | 299202 |
| 4.30%, 07/13/25 | &nbsp;&nbsp; 470 | 467562 |
| 4.35%, 04/09/25 | &nbsp;&nbsp; 200 | 199323 |
| 6.05%, 10/10/25<sup>(a)</sup> | &nbsp;&nbsp; 715 | 722148 |
| Jaguar Land Rover Automotive PLC, 7.75%, <br> 10/15/25<sup>(b)</sup><br>| &nbsp;&nbsp; 10010 | 10011116 |
|  |  | 19261102 |
| **Auto Parts & Equipment — 3.5%** | **Auto Parts & Equipment — 3.5%** | **Auto Parts & Equipment — 3.5%** |
| BorgWarner Inc., 3.38%, 03/15/25 | &nbsp;&nbsp; 40 | 39705 |
| Goodyear Tire & Rubber Co. (The), 9.50%, 05/31/25 | &nbsp;&nbsp; 6566 | 6577407 |
| ZF North America Capital Inc., 4.75%, 04/29/25<sup>(b)</sup> | &nbsp;&nbsp; 14323 | 14215279 |
|  |  | 20832391 |
| **Banks — 4.0%** | **Banks — 4.0%** | **Banks — 4.0%** |
| Associated Banc-Corp, 4.25%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3460 | 3448337 |
| Banco Santander SA, 5.18%, 11/19/25 | &nbsp;&nbsp; 1640 | 1638962 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| BankUnited Inc., 4.88%, 11/17/25 | &nbsp;&nbsp; $245 | $243664 |
| Barclays PLC, 3.65%, 03/16/25 | &nbsp;&nbsp; 870 | 865309 |
| Citigroup Inc. |  |  |
| 3.88%, 03/26/25 | &nbsp;&nbsp; 170 | 169137 |
| 4.40%, 06/10/25 | &nbsp;&nbsp; 1785 | 1777989 |
| 5.50%, 09/13/25 | &nbsp;&nbsp; 2600 | 2612015 |
| Citizens Bank NA, 2.25%, 04/28/25 | &nbsp;&nbsp; 315 | 310765 |
| Citizens Financial Group Inc., 4.30%, 12/03/25 | &nbsp;&nbsp; 616 | 610712 |
| Comerica Bank, 4.00%, 07/27/25 | &nbsp;&nbsp; 85 | 84155 |
| Cooperatieve Rabobank UA, 4.38%, 08/04/25 | &nbsp;&nbsp; 1650 | 1638253 |
| Deutsche Bank AG, 4.50%, 04/01/25 | &nbsp;&nbsp; 730 | 726654 |
| Fifth Third Bancorp, 2.38%, 01/28/25 | &nbsp;&nbsp; 305 | 302934 |
| FNB Corp., 5.15%, 08/25/25 | &nbsp;&nbsp; 30 | 29954 |
| Goldman Sachs Group Inc. (The), 4.25%, 10/21/25 | &nbsp;&nbsp; 1430 | 1421857 |
| HSBC Holdings PLC, 4.25%, 08/18/25 | &nbsp;&nbsp; 1055 | 1047093 |
| Huntington Bancshares Inc./Ohio, 4.00%, 05/15/25 | &nbsp;&nbsp; 75 | 74593 |
| KeyBank NA/Cleveland OH |  |  |
| 3.30%, 06/01/25 | &nbsp;&nbsp; 320 | 316217 |
| 4.15%, 08/08/25 | &nbsp;&nbsp; 965 | 957774 |
| KeyCorp, 4.15%, 10/29/25 | &nbsp;&nbsp; 225 | 223453 |
| Lloyds Banking Group PLC, 4.58%, 12/10/25 | &nbsp;&nbsp; 1550 | 1538713 |
| Manufacturers & Traders Trust Co., 5.40%, 11/21/25 | &nbsp;&nbsp; 35 | 35162 |
| Morgan Stanley, 5.00%, 11/24/25 | &nbsp;&nbsp; 1825 | 1829814 |
| Regions Financial Corp., 2.25%, 05/18/25<sup>(a)</sup> | &nbsp;&nbsp; 340 | 334846 |
| Santander Holdings USA Inc. |  |  |
| 3.45%, 06/02/25 | &nbsp;&nbsp; 450 | 445270 |
| 4.50%, 07/17/25<sup>(a)</sup> | &nbsp;&nbsp; 480 | 477603 |
| Synchrony Bank, 5.40%, 08/22/25 | &nbsp;&nbsp; 845 | 845376 |
| Synovus Financial Corp., 5.20%, 08/11/25 | &nbsp;&nbsp; 145 | 144999 |
|  |  | 24151610 |
| **Beverages — 0.5%** | **Beverages — 0.5%** | **Beverages — 0.5%** |
| Coca-Cola Consolidated Inc., 3.80%, 11/25/25 | &nbsp;&nbsp; 40 | 39616 |
| Constellation Brands Inc. |  |  |
| 4.40%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 205 | 204010 |
| 4.75%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1203 | 1200908 |
| Keurig Dr Pepper Inc. |  |  |
| 3.40%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1225 | 1209329 |
| 4.42%, 05/25/25 | &nbsp;&nbsp; 105 | 104712 |
|  |  | 2758575 |
| **Biotechnology — 0.8%** | **Biotechnology — 0.8%** | **Biotechnology — 0.8%** |
| Amgen Inc. |  |  |
| 1.90%, 02/21/25 | &nbsp;&nbsp; 30 | 29714 |
| 3.13%, 05/01/25 | &nbsp;&nbsp; 230 | 227710 |
| 5.25%, 03/02/25 | &nbsp;&nbsp; 865 | 865508 |
| Baxalta Inc., 4.00%, 06/23/25 | &nbsp;&nbsp; 365 | 363071 |
| Biogen Inc., 4.05%, 09/15/25 | &nbsp;&nbsp; 1245 | 1235952 |
| Gilead Sciences Inc., 3.50%, 02/01/25 | &nbsp;&nbsp; 650 | 647445 |
| Illumina Inc., 5.80%, 12/12/25 | &nbsp;&nbsp; 745 | 751741 |
| Royalty Pharma PLC, 1.20%, 09/02/25 | &nbsp;&nbsp; 685 | 664668 |
|  |  | 4785809 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| Carrier Global Corp., 2.24%, 02/15/25 | &nbsp;&nbsp; 520 | 515803 |
| Fortune Brands Innovations Inc., 4.00%, 06/15/25 | &nbsp;&nbsp; 220 | 218580 |
| Lennox International Inc., 1.35%, 08/01/25 | &nbsp;&nbsp; 120 | 116758 |
| Vulcan Materials Co., 4.50%, 04/01/25 | &nbsp;&nbsp; 25 | 24931 |
|  |  | 876072 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| Celanese U.S. Holdings LLC, 6.05%, 03/15/25 | &nbsp;&nbsp; 400 | 400742 |
| DuPont de Nemours Inc., 4.49%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1755 | 1749627 |
| Eastman Chemical Co., 3.80%, 03/15/25 | &nbsp;&nbsp; 30 | 29832 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2025 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| LYB International Finance III LLC, 1.25%, 10/01/25 | &nbsp;&nbsp; $390 | $377881 |
| Nutrien Ltd. |  |  |
| 3.00%, 04/01/25 | &nbsp;&nbsp; 5 | 4963 |
| 5.95%, 11/07/25 | &nbsp;&nbsp; 730 | 740343 |
| Sherwin-Williams Co. (The) |  |  |
| 3.45%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 75 | 74178 |
| 4.25%, 08/08/25 | &nbsp;&nbsp; 130 | 129647 |
|  |  | 3507213 |
| **Commercial Services — 1.3%** | **Commercial Services — 1.3%** | **Commercial Services — 1.3%** |
| Block Financial LLC, 5.25%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 130 | 130309 |
| Equifax Inc., 2.60%, 12/15/25 | &nbsp;&nbsp; 187 | 182477 |
| Global Payments Inc., 2.65%, 02/15/25 | &nbsp;&nbsp; 400 | 397038 |
| Moody's Corp., 3.75%, 03/24/25 | &nbsp;&nbsp; 65 | 64610 |
| Verisk Analytics Inc., 4.00%, 06/15/25 | &nbsp;&nbsp; 45 | 44722 |
| Williams Scotsman Inc., 6.13%, 06/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 7158 | 7154492 |
|  |  | 7973648 |
| **Computers — 1.6%** | **Computers — 1.6%** | **Computers — 1.6%** |
| Hewlett Packard Enterprise Co., 4.90%, 10/15/25 | &nbsp;&nbsp; 1760 | 1761594 |
| HP Inc., 2.20%, 06/17/25 | &nbsp;&nbsp; 520 | 510945 |
| Leidos Inc., 3.63%, 05/15/25 | &nbsp;&nbsp; 220 | 218089 |
| NetApp Inc., 1.88%, 06/22/25 | &nbsp;&nbsp; 320 | 313508 |
| Seagate HDD Cayman, 4.75%, 01/01/25<sup>(a)</sup> | &nbsp;&nbsp; 6868 | 6849659 |
|  |  | 9653795 |
| **Cosmetics & Personal Care — 0.1%** | **Cosmetics & Personal Care — 0.1%** | **Cosmetics & Personal Care — 0.1%** |
| Haleon U.K. Capital PLC, 3.13%, 03/24/25 | &nbsp;&nbsp; 520 | 516171 |
| **Diversified Financial Services — 9.8%** | **Diversified Financial Services — 9.8%** | **Diversified Financial Services — 9.8%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 3.50%, 01/15/25 | &nbsp;&nbsp; 335 | 333857 |
| 4.45%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 300 | 299243 |
| 6.50%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 910 | 918345 |
| Affiliated Managers Group Inc., 3.50%, 08/01/25 | &nbsp;&nbsp; 105 | 103973 |
| Air Lease Corp. |  |  |
| 2.30%, 02/01/25 | &nbsp;&nbsp; 70 | 69457 |
| 3.25%, 03/01/25 | &nbsp;&nbsp; 40 | 39741 |
| 3.38%, 07/01/25 | &nbsp;&nbsp; 425 | 420591 |
| Ally Financial Inc. |  |  |
| 4.63%, 03/30/25<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19935 |
| 5.75%, 11/20/25<sup>(a)</sup> | &nbsp;&nbsp; 14588 | 14640446 |
| 5.80%, 05/01/25 | &nbsp;&nbsp; 320 | 320849 |
| Capital One Financial Corp. |  |  |
| 3.20%, 02/05/25 | &nbsp;&nbsp; 230 | 228847 |
| 4.20%, 10/29/25<sup>(a)</sup> | &nbsp;&nbsp; 1095 | 1087208 |
| 4.25%, 04/30/25<sup>(a)</sup> | &nbsp;&nbsp; 375 | 373723 |
| Discover Financial Services, 3.75%, 03/04/25 | &nbsp;&nbsp; 120 | 119307 |
| Janus Henderson U.S. Holdings Inc., 4.88%, <br> 08/01/25<br>| &nbsp;&nbsp; 75 | 75011 |
| Nasdaq Inc., 5.65%, 06/28/25 | &nbsp;&nbsp; 185 | 185805 |
| Navient Corp., 6.75%, 06/25/25 | &nbsp;&nbsp; 7265 | 7310510 |
| Nomura Holdings Inc. |  |  |
| 1.85%, 07/16/25 | &nbsp;&nbsp; 1120 | 1094761 |
| 2.65%, 01/16/25 | &nbsp;&nbsp; 635 | 631570 |
| 5.10%, 07/03/25 | &nbsp;&nbsp; 430 | 429861 |
| PennyMac Financial Services Inc., 5.38%, 10/15/25<sup>(b)</sup> | &nbsp;&nbsp; 9657 | 9617603 |
| SLM Corp., 4.20%, 10/29/25<sup>(a)</sup> | &nbsp;&nbsp; 7860 | 7713520 |
| Synchrony Financial |  |  |
| 4.50%, 07/23/25 | &nbsp;&nbsp; 950 | 944771 |
| 4.88%, 06/13/25 | &nbsp;&nbsp; 340 | 339018 |
| United Wholesale Mortgage LLC, 5.50%, 11/15/25<sup>(b)</sup> | &nbsp;&nbsp; 11768 | 11720232 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Western Union Co. (The), 2.85%, 01/10/25 | &nbsp;&nbsp; $55 | $54697 |
|  |  | 59092881 |
| **Electric — 2.7%** | **Electric — 2.7%** | **Electric — 2.7%** |
| American Electric Power Co. Inc. |  |  |
| 5.70%, 08/15/25 | &nbsp;&nbsp; 450 | 452409 |
| Series N, 1.00%, 11/01/25 | &nbsp;&nbsp; 210 | 202237 |
| Appalachian Power Co., 3.40%, 06/01/25 | &nbsp;&nbsp; 80 | 79210 |
| Arizona Public Service Co., 3.15%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 125 | 123812 |
| Avangrid Inc., 3.20%, 04/15/25 | &nbsp;&nbsp; 395 | 391576 |
| Constellation Energy Generation LLC, 3.25%, <br> 06/01/25<br>| &nbsp;&nbsp; 415 | 410567 |
| Dominion Energy Inc. |  |  |
| 3.90%, 10/01/25 | &nbsp;&nbsp; 395 | 392087 |
| Series A, 3.30%, 03/15/25 | &nbsp;&nbsp; 75 | 74527 |
| DPL Inc., 4.13%, 07/01/25<sup>(a)</sup> | &nbsp;&nbsp; 6032 | 5976268 |
| DTE Energy Co., Series F, 1.05%, 06/01/25 | &nbsp;&nbsp; 340 | 332575 |
| Duke Energy Corp. |  |  |
| 0.90%, 09/15/25 | &nbsp;&nbsp; 305 | 294822 |
| 5.00%, 12/08/25<sup>(a)</sup> | &nbsp;&nbsp; 1203 | 1205656 |
| Edison International |  |  |
| 4.70%, 08/15/25 | &nbsp;&nbsp; 125 | 124581 |
| 4.95%, 04/15/25 | &nbsp;&nbsp; 125 | 124884 |
| Entergy Corp., 0.90%, 09/15/25 | &nbsp;&nbsp; 430 | 415478 |
| Eversource Energy |  |  |
| Series H, 3.15%, 01/15/25 | &nbsp;&nbsp; 20 | 19905 |
| Series Q, 0.80%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 60 | 58037 |
| Exelon Corp., 3.95%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 320 | 318035 |
| Iberdrola International BV, 5.81%, 03/15/25 | &nbsp;&nbsp; 45 | 45096 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 4.45%, 06/20/25 | &nbsp;&nbsp; 450 | 448729 |
| 5.75%, 09/01/25 | &nbsp;&nbsp; 1400 | 1410701 |
| 6.05%, 03/01/25 | &nbsp;&nbsp; 1160 | 1163773 |
| Pacific Gas and Electric Co. |  |  |
| 3.45%, 07/01/25 | &nbsp;&nbsp; 480 | 474789 |
| 3.50%, 06/15/25 | &nbsp;&nbsp; 195 | 193092 |
| 4.95%, 06/08/25<sup>(a)</sup> | &nbsp;&nbsp; 205 | 204523 |
| Pinnacle West Capital Corp., 1.30%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 45 | 43945 |
| Public Service Enterprise Group Inc., 0.80%, <br> 08/15/25<br>| &nbsp;&nbsp; 250 | 241986 |
| Puget Energy Inc., 3.65%, 05/15/25 | &nbsp;&nbsp; 35 | 34678 |
| Sempra, 3.30%, 04/01/25 | &nbsp;&nbsp; 315 | 312782 |
| Southern Co. (The), 5.15%, 10/06/25 | &nbsp;&nbsp; 265 | 266320 |
| Southern Power Co., 4.15%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; 227 | 225103 |
| WEC Energy Group Inc., 5.00%, 09/27/25 | &nbsp;&nbsp; 205 | 205231 |
| Xcel Energy Inc., 3.30%, 06/01/25 | &nbsp;&nbsp; 70 | 69232 |
|  |  | 16336646 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| Amphenol Corp., 2.05%, 03/01/25 | &nbsp;&nbsp; 20 | 19805 |
| Arrow Electronics Inc., 4.00%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 35 | 34822 |
| Flex Ltd., 4.75%, 06/15/25 | &nbsp;&nbsp; 220 | 219077 |
|  |  | 273704 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| Warnermedia Holdings Inc. |  |  |
| 3.64%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 755 | 750388 |
| 3.79%, 03/15/25 | &nbsp;&nbsp; 85 | 84587 |
|  |  | 834975 |
| **Environmental Control — 1.9%** | **Environmental Control — 1.9%** | **Environmental Control — 1.9%** |
| GFL Environmental Inc., 3.75%, 08/01/25<sup>(b)</sup> | &nbsp;&nbsp; 11496 | 11380707 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2025 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control (continued)** | **Environmental Control (continued)** | **Environmental Control (continued)** |
| Republic Services Inc. |  |  |
| 0.88%, 11/15/25 | &nbsp;&nbsp; $95 | $91301 |
| 3.20%, 03/15/25 | &nbsp;&nbsp; 90 | 89408 |
|  |  | 11561416 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| Campbell Soup Co. |  |  |
| 3.30%, 03/19/25 | &nbsp;&nbsp; 70 | 69510 |
| 3.95%, 03/15/25 | &nbsp;&nbsp; 200 | 199121 |
| Conagra Brands Inc., 4.60%, 11/01/25 | &nbsp;&nbsp; 1405 | 1401079 |
| General Mills Inc. |  |  |
| 4.00%, 04/17/25<sup>(a)</sup> | &nbsp;&nbsp; 170 | 169214 |
| 5.24%, 11/18/25<sup>(a)</sup> | &nbsp;&nbsp; 40 | 39942 |
| J.M. Smucker Co. (The), 3.50%, 03/15/25 | &nbsp;&nbsp; 255 | 253411 |
| Mondelez International Inc., 1.50%, 05/04/25 | &nbsp;&nbsp; 360 | 353813 |
| Sysco Corp., 3.75%, 10/01/25 | &nbsp;&nbsp; 400 | 396812 |
|  |  | 2882902 |
| **Food Service — 1.4%** | **Food Service — 1.4%** | **Food Service — 1.4%** |
| Aramark Services Inc., 5.00%, 04/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 8708 | 8693345 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| Suzano International Finance BV, 4.00%, 01/14/25 | &nbsp;&nbsp; 20 | 19903 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| National Fuel Gas Co., 5.20%, 07/15/25 | &nbsp;&nbsp; 320 | 319208 |
| NiSource Inc., 0.95%, 08/15/25 | &nbsp;&nbsp; 885 | 857768 |
|  |  | 1176976 |
| **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** |
| Stanley Black & Decker Inc., 2.30%, 02/24/25 | &nbsp;&nbsp; 75 | 74307 |
| **Health Care - Products — 0.8%** | **Health Care - Products — 0.8%** | **Health Care - Products — 0.8%** |
| Boston Scientific Corp., 1.90%, 06/01/25 | &nbsp;&nbsp; 230 | 226064 |
| GE HealthCare Technologies Inc., 5.60%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2600 | 2621795 |
| Stryker Corp. |  |  |
| 1.15%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 230 | 224903 |
| 3.38%, 11/01/25 | &nbsp;&nbsp; 1315 | 1300557 |
| Zimmer Biomet Holdings Inc., 3.55%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 160 | 158919 |
|  |  | 4532238 |
| **Health Care - Services — 0.8%** | **Health Care - Services — 0.8%** | **Health Care - Services — 0.8%** |
| Cigna Group (The) |  |  |
| 3.25%, 04/15/25 | &nbsp;&nbsp; 305 | 302776 |
| 4.13%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1530 | 1520706 |
| Elevance Health Inc. |  |  |
| 2.38%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 305 | 302982 |
| 5.35%, 10/15/25 | &nbsp;&nbsp; 75 | 75441 |
| HCA Inc. |  |  |
| 5.25%, 04/15/25 | &nbsp;&nbsp; 685 | 684965 |
| 5.38%, 02/01/25 | &nbsp;&nbsp; 1160 | 1159915 |
| Humana Inc., 4.50%, 04/01/25 | &nbsp;&nbsp; 90 | 89746 |
| Laboratory Corp. of America Holdings, 3.60%, <br> 02/01/25<br>| &nbsp;&nbsp; 430 | 427796 |
| Quest Diagnostics Inc., 3.50%, 03/30/25 | &nbsp;&nbsp; 20 | 19869 |
|  |  | 4584196 |
| **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** |
| Ares Capital Corp. |  |  |
| 3.25%, 07/15/25 | &nbsp;&nbsp; 1060 | 1045591 |
| 4.25%, 03/01/25 | &nbsp;&nbsp; 90 | 89618 |
| Blackstone Private Credit Fund |  |  |
| 2.70%, 01/15/25 | &nbsp;&nbsp; 35 | 34795 |
| 4.70%, 03/24/25 | &nbsp;&nbsp; 390 | 388818 |
| 7.05%, 09/29/25 | &nbsp;&nbsp; 850 | 863433 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| Blue Owl Capital Corp. |  |  |
| 3.75%, 07/22/25 | &nbsp;&nbsp; $545 | $538917 |
| 4.00%, 03/30/25 | &nbsp;&nbsp; 65 | 64594 |
| Blue Owl Credit Income Corp., 5.50%, 03/21/25 | &nbsp;&nbsp; 120 | 119749 |
| FS KKR Capital Corp., 4.13%, 02/01/25 | &nbsp;&nbsp; 87 | 86615 |
| Goldman Sachs BDC Inc., 3.75%, 02/10/25<sup>(a)</sup> | &nbsp;&nbsp; 45 | 44716 |
| Oaktree Specialty Lending Corp., 3.50%, 02/25/25<sup>(a)</sup> | &nbsp;&nbsp; 40 | 39739 |
|  |  | 3316585 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| DR Horton Inc., 2.60%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 110 | 107895 |
| Lennar Corp., 4.75%, 05/30/25 | &nbsp;&nbsp; 235 | 234511 |
| Toll Brothers Finance Corp., 4.88%, 11/15/25 | &nbsp;&nbsp; 165 | 164870 |
|  |  | 507276 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| Whirlpool Corp., 3.70%, 05/01/25 | &nbsp;&nbsp; 95 | 94309 |
| **Housewares — 1.2%** | **Housewares — 1.2%** | **Housewares — 1.2%** |
| Newell Brands Inc., 4.88%, 06/01/25 | &nbsp;&nbsp; 7265 | 7265000 |
| **Insurance — 0.5%** | **Insurance — 0.5%** | **Insurance — 0.5%** |
| Allstate Corp. (The), 0.75%, 12/15/25 | &nbsp;&nbsp; 1230 | 1176600 |
| Aon Global Ltd., 3.88%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1305 | 1292877 |
| CNO Financial Group Inc., 5.25%, 05/30/25 | &nbsp;&nbsp; 40 | 39946 |
| Corebridge Financial Inc., 3.50%, 04/04/25 | &nbsp;&nbsp; 465 | 462031 |
| Kemper Corp., 4.35%, 02/15/25 | &nbsp;&nbsp; 20 | 19917 |
| Lincoln National Corp., 3.35%, 03/09/25 | &nbsp;&nbsp; 65 | 64536 |
|  |  | 3055907 |
| **Internet — 2.8%** | **Internet — 2.8%** | **Internet — 2.8%** |
| eBay Inc. |  |  |
| 1.90%, 03/11/25 | &nbsp;&nbsp; 325 | 321394 |
| 5.90%, 11/22/25 | &nbsp;&nbsp; 1175 | 1188202 |
| Gen Digital Inc., 5.00%, 04/15/25<sup>(b)</sup> | &nbsp;&nbsp; 14510 | 14481421 |
| Netflix Inc., 5.88%, 02/15/25 | &nbsp;&nbsp; 305 | 305777 |
| VeriSign Inc., 5.25%, 04/01/25 | &nbsp;&nbsp; 255 | 254680 |
|  |  | 16551474 |
| **Iron & Steel — 0.0%** | **Iron & Steel — 0.0%** | **Iron & Steel — 0.0%** |
| Reliance Inc., 1.30%, 08/15/25 | &nbsp;&nbsp; 160 | 155370 |
| Steel Dynamics Inc., 2.40%, 06/15/25 | &nbsp;&nbsp; 50 | 49201 |
|  |  | 204571 |
| **Leisure Time — 0.8%** | **Leisure Time — 0.8%** | **Leisure Time — 0.8%** |
| Harley-Davidson Inc., 3.50%, 07/28/25 | &nbsp;&nbsp; 300 | 296062 |
| Viking Cruises Ltd., 6.25%, 05/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 4213 | 4212897 |
|  |  | 4508959 |
| **Lodging — 8.0%** | **Lodging — 8.0%** | **Lodging — 8.0%** |
| Hilton Domestic Operating Co. Inc., 5.38%, <br> 05/01/25<sup>(b)</sup><br>| &nbsp;&nbsp; 7985 | 7980240 |
| Hyatt Hotels Corp., 5.38%, 04/23/25 | &nbsp;&nbsp; 335 | 335032 |
| Las Vegas Sands Corp., 2.90%, 06/25/25 | &nbsp;&nbsp; 745 | 732355 |
| Marriott International Inc./MD |  |  |
| 3.75%, 03/15/25 | &nbsp;&nbsp; 95 | 94451 |
| 3.75%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 110 | 109145 |
| Series EE, 5.75%, 05/01/25 | &nbsp;&nbsp; 195 | 195542 |
| Melco Resorts Finance Ltd., 4.88%, 06/06/25<sup>(c)</sup> | &nbsp;&nbsp; 14545 | 14385413 |
| MGM China Holdings Ltd., 5.25%, 06/18/25<sup>(b)</sup> | &nbsp;&nbsp; 8257 | 8215052 |
| Sands China Ltd., 5.13%, 08/08/25 | &nbsp;&nbsp; 1820 | 1815937 |
| Studio City Finance Ltd., 6.00%, 07/15/25<sup>(b)</sup> | &nbsp;&nbsp; 4110 | 4099491 |
| Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse <br> HSP Gaming Finance Corp., 5.88%, 05/15/25<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4380 | 4369100 |
| Travel & Leisure Co., 6.60%, 10/01/25 | &nbsp;&nbsp; 5698 | 5738532 |
|  |  | 48070290 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2025 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery — 0.3%** | **Machinery — 0.3%** | **Machinery — 0.3%** |
| CNH Industrial Capital LLC |  |  |
| 3.95%, 05/23/25 | &nbsp;&nbsp; $255 | $253493 |
| 5.45%, 10/14/25 | &nbsp;&nbsp; 205 | 206413 |
| Dover Corp., 3.15%, 11/15/25 | &nbsp;&nbsp; 630 | 619070 |
| Otis Worldwide Corp., 2.06%, 04/05/25 | &nbsp;&nbsp; 605 | 597289 |
| Westinghouse Air Brake Technologies Corp., 3.20%, <br> 06/15/25<br>| &nbsp;&nbsp; 345 | 340847 |
|  |  | 2017112 |
| **Manufacturing — 0.0%** | **Manufacturing — 0.0%** | **Manufacturing — 0.0%** |
| Textron Inc., 3.88%, 03/01/25 | &nbsp;&nbsp; 40 | 39821 |
| **Media — 0.3%** | **Media — 0.3%** | **Media — 0.3%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital, 4.91%, <br> 07/23/25<br>| &nbsp;&nbsp; 1300 | 1298481 |
| Discovery Communications LLC |  |  |
| 3.45%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19852 |
| 3.95%, 06/15/25 | &nbsp;&nbsp; 115 | 113953 |
| Fox Corp., 3.05%, 04/07/25 | &nbsp;&nbsp; 120 | 118972 |
|  |  | 1551258 |
| **Mining — 0.0%** | **Mining — 0.0%** | **Mining — 0.0%** |
| Southern Copper Corp., 3.88%, 04/23/25 | &nbsp;&nbsp; 200 | 198283 |
| **Office & Business Equipment — 0.9%** | **Office & Business Equipment — 0.9%** | **Office & Business Equipment — 0.9%** |
| Xerox Holdings Corp., 5.00%, 08/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 5637 | 5554953 |
| **Oil & Gas — 4.5%** | **Oil & Gas — 4.5%** | **Oil & Gas — 4.5%** |
| Calumet Specialty Products Partners LP/Calumet <br> Finance Corp., 11.00%, 04/15/25<sup>(b)</sup><br>| &nbsp;&nbsp; 5231 | 5260934 |
| Canadian Natural Resources Ltd. |  |  |
| 2.05%, 07/15/25 | &nbsp;&nbsp; 335 | 328227 |
| 3.90%, 02/01/25 | &nbsp;&nbsp; 75 | 74744 |
| Devon Energy Corp., 5.85%, 12/15/25 | &nbsp;&nbsp; 230 | 231580 |
| Expand Energy Corp., 5.70%, 01/23/25 | &nbsp;&nbsp; 5116 | 5109377 |
| Marathon Petroleum Corp., 4.70%, 05/01/25 | &nbsp;&nbsp; 590 | 589065 |
| Occidental Petroleum Corp. |  |  |
| 5.50%, 12/01/25 | &nbsp;&nbsp; 130 | 130318 |
| 5.88%, 09/01/25 | &nbsp;&nbsp; 335 | 336421 |
| Ovintiv Inc., 5.65%, 05/15/25 | &nbsp;&nbsp; 395 | 396201 |
| Phillips 66, 3.85%, 04/09/25 | &nbsp;&nbsp; 350 | 348196 |
| Phillips 66 Co., 3.61%, 02/15/25 | &nbsp;&nbsp; 20 | 19899 |
| Range Resources Corp., 4.88%, 05/15/25 | &nbsp;&nbsp; 9897 | 9863690 |
| Vermilion Energy Inc., 5.63%, 03/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 4364 | 4355734 |
|  |  | 27044386 |
| **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** |
| Halliburton Co., 3.80%, 11/15/25 | &nbsp;&nbsp; 115 | 113752 |
| KCA Deutag UK Finance PLC, 9.88%, 12/01/25<sup>(b)</sup> | &nbsp;&nbsp; 7186 | 7213438 |
|  |  | 7327190 |
| **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** |
| Amcor Flexibles North America Inc., 4.00%, 05/17/25 | &nbsp;&nbsp; 35 | 34792 |
| Sonoco Products Co., 1.80%, 02/01/25 | &nbsp;&nbsp; 45 | 44590 |
| WRKCo Inc., 3.75%, 03/15/25 | &nbsp;&nbsp; 45 | 44757 |
|  |  | 124139 |
| **Pharmaceuticals — 5.7%** | **Pharmaceuticals — 5.7%** | **Pharmaceuticals — 5.7%** |
| Bausch Health Companies Inc., 5.50%, 11/01/25<sup>(b)</sup> | &nbsp;&nbsp; 18155 | 17802786 |
| Cardinal Health Inc., 3.75%, 09/15/25 | &nbsp;&nbsp; 235 | 232986 |
| Cencora Inc., 3.25%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 45 | 44718 |
| CVS Health Corp. |  |  |
| 3.88%, 07/20/25 | &nbsp;&nbsp; 2040 | 2022056 |
| 4.10%, 03/25/25<sup>(a)</sup> | &nbsp;&nbsp; 250 | 248868 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, <br> 09/01/25<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $4367 | $4349521 |
| P&L Development LLC/PLD Finance Corp. |  |  |
| 7.75%, 11/15/25<sup>(b)</sup> | &nbsp;&nbsp; 1598 | 1610659 |
| 12.00%, 12/02/24, 9.00% Cash and 3.50% PIK or <br> 12.00% Cash<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 5252 | 5286079 |
| Viatris Inc., 1.65%, 06/22/25<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19544 |
| Zoetis Inc. |  |  |
| 4.50%, 11/13/25 | &nbsp;&nbsp; 1305 | 1301622 |
| 5.40%, 11/14/25<sup>(a)</sup> | &nbsp;&nbsp; 1245 | 1252813 |
|  |  | 34171652 |
| **Pipelines — 7.7%** | **Pipelines — 7.7%** | **Pipelines — 7.7%** |
| Buckeye Partners LP, 4.13%, 03/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 6717 | 6676748 |
| Columbia Pipeline Group Inc., 4.50%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 420 | 418171 |
| DCP Midstream Operating LP, 5.38%, 07/15/25 | &nbsp;&nbsp; 115 | 115052 |
| Enbridge Energy Partners LP, 5.88%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 290 | 292173 |
| Enbridge Inc. |  |  |
| 2.50%, 01/15/25 | &nbsp;&nbsp; 65 | 64649 |
| 2.50%, 02/14/25 | &nbsp;&nbsp; 20 | 19869 |
| Energy Transfer LP |  |  |
| 2.90%, 05/15/25 | &nbsp;&nbsp; 435 | 429982 |
| 4.05%, 03/15/25 | &nbsp;&nbsp; 465 | 463171 |
| 5.75%, 04/01/25 | &nbsp;&nbsp; 235 | 235006 |
| 5.95%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; 165 | 166418 |
| EnLink Midstream Partners LP, 4.15%, 06/01/25 | &nbsp;&nbsp; 205 | 203523 |
| EQM Midstream Partners LP, 6.00%, 07/01/25<sup>(b)</sup> | &nbsp;&nbsp; 6436 | 6445566 |
| Kinder Morgan Inc., 4.30%, 06/01/25 | &nbsp;&nbsp; 690 | 687337 |
| MPLX LP |  |  |
| 4.00%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 55 | 54797 |
| 4.88%, 06/01/25 | &nbsp;&nbsp; 555 | 554526 |
| New Fortress Energy Inc., 6.75%, 09/15/25<sup>(b)</sup> | &nbsp;&nbsp; 12655 | 12622127 |
| NuStar Logistics LP, 5.75%, 10/01/25 | &nbsp;&nbsp; 9840 | 9799282 |
| ONEOK Inc., 2.20%, 09/15/25 | &nbsp;&nbsp; 190 | 185607 |
| ONEOK Partners LP, 4.90%, 03/15/25 | &nbsp;&nbsp; 35 | 34969 |
| Plains All American Pipeline LP/PAA Finance Corp., <br> 4.65%, 10/15/25<br>| &nbsp;&nbsp; 490 | 489045 |
| Rockies Express Pipeline LLC, 3.60%, 05/15/25<sup>(b)</sup> | &nbsp;&nbsp; 5801 | 5717985 |
| Sabine Pass Liquefaction LLC, 5.63%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 25 | 25015 |
| Spectra Energy Partners LP, 3.50%, 03/15/25 | &nbsp;&nbsp; 130 | 129213 |
| TC PipeLines LP, 4.38%, 03/13/25 | &nbsp;&nbsp; 20 | 19911 |
| Western Midstream Operating LP |  |  |
| 3.10%, 02/01/25 | &nbsp;&nbsp; 65 | 64563 |
| 3.95%, 06/01/25 | &nbsp;&nbsp; 20 | 19805 |
| Williams Companies Inc. (The) |  |  |
| 3.90%, 01/15/25 | &nbsp;&nbsp; 130 | 129648 |
| 4.00%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 375 | 371541 |
|  |  | 46435699 |
| **Real Estate Investment Trusts — 7.0%** | **Real Estate Investment Trusts — 7.0%** | **Real Estate Investment Trusts — 7.0%** |
| Alexandria Real Estate Equities Inc., 3.45%, 04/30/25 | &nbsp;&nbsp; 305 | 302817 |
| American Tower Corp. |  |  |
| 1.30%, 09/15/25 | &nbsp;&nbsp; 290 | 281288 |
| 2.40%, 03/15/25 | &nbsp;&nbsp; 210 | 207956 |
| 2.95%, 01/15/25 | &nbsp;&nbsp; 40 | 39797 |
| 4.00%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 365 | 363095 |
| Boston Properties LP, 3.20%, 01/15/25 | &nbsp;&nbsp; 290 | 288739 |
| Brixmor Operating Partnership LP, 3.85%, 02/01/25 | &nbsp;&nbsp; 65 | 64740 |
| Crown Castle Inc., 1.35%, 07/15/25 | &nbsp;&nbsp; 380 | 369633 |
| CubeSmart LP, 4.00%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 630 | 622867 |
| Diversified Healthcare Trust, 9.75%, 06/15/25 | &nbsp;&nbsp; 5862 | 5862007 |
| EPR Properties, 4.50%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19899 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2025 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Equinix Inc. |  |  |
| 1.00%, 09/15/25 | &nbsp;&nbsp; $535 | $516856 |
| 1.25%, 07/15/25 | &nbsp;&nbsp; 310 | 301897 |
| Essex Portfolio LP, 3.50%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 80 | 79482 |
| GLP Capital LP/GLP Financing II Inc., 5.25%, <br> 06/01/25<br>| &nbsp;&nbsp; 440 | 439372 |
| Healthpeak OP LLC |  |  |
| 3.40%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 60 | 59709 |
| 4.00%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19886 |
| Host Hotels & Resorts LP, Series E, 4.00%, 06/15/25 | &nbsp;&nbsp; 75 | 74386 |
| Kilroy Realty LP, 4.38%, 10/01/25 | &nbsp;&nbsp; 310 | 308028 |
| Kimco Realty OP LLC, 3.30%, 02/01/25 | &nbsp;&nbsp; 75 | 74630 |
| Kite Realty Group Trust, 4.00%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19890 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp., 5.25%, 10/01/25<sup>(b)</sup><br>| &nbsp;&nbsp; 5112 | 5093362 |
| NNN REIT Inc., 4.00%, 11/15/25 | &nbsp;&nbsp; 155 | 153662 |
| Omega Healthcare Investors Inc., 4.50%, 01/15/25 | &nbsp;&nbsp; 65 | 64872 |
| Rithm Capital Corp., 6.25%, 10/15/25<sup>(b)</sup> | &nbsp;&nbsp; 4127 | 4117068 |
| Starwood Property Trust Inc., 4.75%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 7235 | 7209726 |
| Ventas Realty LP |  |  |
| 2.65%, 01/15/25 | &nbsp;&nbsp; 55 | 54711 |
| 3.50%, 02/01/25 | &nbsp;&nbsp; 60 | 59719 |
| VICI Properties LP, 4.38%, 05/15/25 | &nbsp;&nbsp; 255 | 254008 |
| Vornado Realty LP, 3.50%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 6977 | 6941872 |
| Welltower OP LLC, 4.00%, 06/01/25 | &nbsp;&nbsp; 600 | 596864 |
| WP Carey Inc., 4.00%, 02/01/25 | &nbsp;&nbsp; 40 | 39822 |
| XHR LP, 6.38%, 08/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 7260 | 7256630 |
|  |  | 42159290 |
| **Retail — 7.5%** | **Retail — 7.5%** | **Retail — 7.5%** |
| AutoNation Inc., 4.50%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 570 | 567357 |
| AutoZone Inc. |  |  |
| 3.25%, 04/15/25 | &nbsp;&nbsp; 125 | 123989 |
| 3.63%, 04/15/25 | &nbsp;&nbsp; 95 | 94405 |
| Bath & Body Works Inc., 9.38%, 07/01/25<sup>(b)</sup> | &nbsp;&nbsp; 5238 | 5368557 |
| Dave & Buster's Inc., 7.63%, 11/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 6096 | 6096000 |
| Dollar General Corp., 4.15%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 260 | 257934 |
| Dollar Tree Inc., 4.00%, 05/15/25 | &nbsp;&nbsp; 495 | 491715 |
| Genuine Parts Co., 1.75%, 02/01/25 | &nbsp;&nbsp; 55 | 54512 |
| Kohl's Corp., 4.25%, 07/17/25 | &nbsp;&nbsp; 6150 | 6072704 |
| Lowe's Companies Inc. |  |  |
| 3.38%, 09/15/25 | &nbsp;&nbsp; 315 | 311303 |
| 4.00%, 04/15/25 | &nbsp;&nbsp; 340 | 338587 |
| 4.40%, 09/08/25 | &nbsp;&nbsp; 505 | 503870 |
| McDonald's Corp. |  |  |
| 1.45%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 135 | 131470 |
| 3.30%, 07/01/25<sup>(a)</sup> | &nbsp;&nbsp; 325 | 322035 |
| 3.38%, 05/26/25<sup>(a)</sup> | &nbsp;&nbsp; 340 | 337328 |
| Penske Automotive Group Inc., 3.50%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 9270 | 9129765 |
| QVC Inc., 4.45%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 8450 | 8376935 |
| Ross Stores Inc., 4.60%, 04/15/25 | &nbsp;&nbsp; 300 | 299371 |
| Sizzling Platter LLC/Sizzling Platter Finance Corp., <br> 8.50%, 11/28/25<sup>(b)</sup><br>| &nbsp;&nbsp; 5972 | 5983650 |
| Starbucks Corp., 3.80%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 505 | 501661 |
|  |  | 45363148 |
| **Semiconductors — 0.6%** | **Semiconductors — 0.6%** | **Semiconductors — 0.6%** |
| Broadcom Corp./Broadcom Cayman Finance Ltd., <br> 3.13%, 01/15/25<br>| &nbsp;&nbsp; 50 | 49760 |
| Broadcom Inc., 3.15%, 11/15/25 | &nbsp;&nbsp; 430 | 423073 |
| Intel Corp. |  |  |
| 3.40%, 03/25/25 | &nbsp;&nbsp; 650 | 646055 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| 3.70%, 07/29/25<sup>(a)</sup> | &nbsp;&nbsp; $2045 | $2026912 |
| Microchip Technology Inc., 4.25%, 09/01/25 | &nbsp;&nbsp; 490 | 487388 |
| NXP BV/NXP Funding LLC/NXP USA Inc., 2.70%, <br> 05/01/25<br>| &nbsp;&nbsp; 220 | 217634 |
|  |  | 3850822 |
| **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** |
| Huntington Ingalls Industries Inc., 3.84%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19882 |
| **Software — 5.1%** | **Software — 5.1%** | **Software — 5.1%** |
| Autodesk Inc., 4.38%, 06/15/25 | &nbsp;&nbsp; 5 | 4984 |
| Fiserv Inc., 3.85%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 205 | 203645 |
| Oracle Corp. |  |  |
| 2.50%, 04/01/25 | &nbsp;&nbsp; 1390 | 1376077 |
| 2.95%, 05/15/25 | &nbsp;&nbsp; 980 | 969200 |
| 5.80%, 11/10/25 | &nbsp;&nbsp; 1370 | 1384465 |
| PTC Inc., 3.63%, 02/15/25<sup>(b)</sup> | &nbsp;&nbsp; 7185 | 7146080 |
| Roper Technologies Inc. |  |  |
| 1.00%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 525 | 508923 |
| 3.85%, 12/15/25 | &nbsp;&nbsp; 20 | 19801 |
| Take-Two Interactive Software Inc., 3.55%, 04/14/25 | &nbsp;&nbsp; 405 | 402197 |
| Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, <br> 09/01/25<sup>(b)</sup><br>| &nbsp;&nbsp; 18952 | 18028758 |
| VMware LLC, 4.50%, 05/15/25 | &nbsp;&nbsp; 355 | 353917 |
|  |  | 30398047 |
| **Telecommunications — 3.2%** | **Telecommunications — 3.2%** | **Telecommunications — 3.2%** |
| Juniper Networks Inc., 1.20%, 12/10/25 | &nbsp;&nbsp; 92 | 88268 |
| Qwest Corp., 7.25%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3677 | 3663273 |
| Rogers Communications Inc. |  |  |
| 2.95%, 03/15/25 | &nbsp;&nbsp; 380 | 376944 |
| 3.63%, 12/15/25 | &nbsp;&nbsp; 727 | 716845 |
| Sprint LLC, 7.63%, 02/15/25 | &nbsp;&nbsp; 600 | 600806 |
| T-Mobile USA Inc., 3.50%, 04/15/25 | &nbsp;&nbsp; 1355 | 1345747 |
| Verizon Communications Inc. |  |  |
| 0.85%, 11/20/25<sup>(a)</sup> | &nbsp;&nbsp; 1525 | 1467073 |
| 3.38%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 500 | 497489 |
| ViaSat Inc., 5.63%, 09/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 10469 | 10326913 |
| Vodafone Group PLC, 4.13%, 05/30/25<sup>(a)</sup> | &nbsp;&nbsp; 300 | 298714 |
|  |  | 19382072 |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| Canadian Pacific Railway Co., 2.90%, 02/01/25 | &nbsp;&nbsp; 35 | 34798 |
| Norfolk Southern Corp., 3.65%, 08/01/25 | &nbsp;&nbsp; 75 | 74310 |
| Ryder System Inc. |  |  |
| 3.35%, 09/01/25 | &nbsp;&nbsp; 195 | 192480 |
| 4.63%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 100 | 99737 |
|  |  | 401325 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| GATX Corp., 3.25%, 03/30/25 | &nbsp;&nbsp; 20 | 19837 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| American Water Capital Corp., 3.40%, 03/01/25 | &nbsp;&nbsp; 20 | 19888 |
| **Total Corporate Bonds & Notes — 97.2%** <br>**(Cost: $582,352,830)** | **Total Corporate Bonds & Notes — 97.2%** <br>**(Cost: $582,352,830)** | 584776370 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2025 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Office REITs — 0.0%** | **Office REITs — 0.0%** | **Office REITs — 0.0%** |
| Office Properties Income Trust, NVS | &nbsp;&nbsp; 16952 | $26954 |
| **Total Common Stocks — 0.0%** <br>**(Cost $0)** | **Total Common Stocks — 0.0%** <br>**(Cost $0)** | 26954 |
| **Total Long-Term Investments — 97.2%** <br>**(Cost: $582,352,830)** | **Total Long-Term Investments — 97.2%** <br>**(Cost: $582,352,830)** | 584803324 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 9.9%** | **Money Market Funds — 9.9%** | **Money Market Funds — 9.9%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 44233549 | 44264512 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 15320000 | 15320000 |
| **Total Short-Term Securities — 9.9%** <br>**(Cost: $59,569,117)** | **Total Short-Term Securities — 9.9%** <br>**(Cost: $59,569,117)** | 59584512 |
| **Total Investments — 107.1%** <br>**(Cost: $641,921,947)** | **Total Investments — 107.1%** <br>**(Cost: $641,921,947)** | 644387836 |
| **Liabilities in Excess of Other Assets — (7.1)%** | **Liabilities in Excess of Other Assets — (7.1)%** | (42767934)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $601619902 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(d)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

<sup>(g)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $28058340<br> $16192574 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $7178 | $6420 | $44264512 | 44233549 | $225443 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 9620000<br> 5700000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 15320000 | 15320000 | 1184545 | &nbsp;&nbsp; — |
|  |  |  | $7178 | $6420 | $59584512 |  | $1409988 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2025 Term High Yield and Income ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $584776370 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $584776370 |
| Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 26954 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26954 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 59584512 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 59584512 |
|  | &nbsp;&nbsp; $59584512 | &nbsp;&nbsp; $584803324 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $644387836 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® 2026 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.4%** | **Advertising — 0.4%** | **Advertising — 0.4%** |
| Summer BC Bidco B LLC, 5.50%, 10/31/26<sup>(a)</sup> | &nbsp;&nbsp; $2390 | $2360891 |
| **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** |
| F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, <br> 08/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2705 | 2707463 |
| Spirit AeroSystems Inc., 3.85%, 06/15/26 | &nbsp;&nbsp; 1631 | 1580720 |
|  |  | 4288183 |
| **Agriculture — 0.6%** | **Agriculture — 0.6%** | **Agriculture — 0.6%** |
| Turning Point Brands Inc., 5.63%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1416 | 1410006 |
| Vector Group Ltd., 10.50%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2106 | 2106000 |
|  |  | 3516006 |
| **Airlines — 5.5%** | **Airlines — 5.5%** | **Airlines — 5.5%** |
| Air Canada, 3.88%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 7018 | 6793410 |
| Air Canada Pass Through Trust, Series 2020-1, <br> Class C, 10.50%, 07/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1776 | 1901678 |
| American Airlines Inc./AAdvantage Loyalty IP Ltd., <br> 5.50%, 04/20/26<sup>(a)</sup><br>| &nbsp;&nbsp; 10600 | 10573316 |
| United Airlines Inc., 4.38%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 11730 | 11524757 |
|  |  | 30793161 |
| **Apparel — 1.6%** | **Apparel — 1.6%** | **Apparel — 1.6%** |
| Hanesbrands Inc., 4.88%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5643 | 5577709 |
| Under Armour Inc., 3.25%, 06/15/26 | &nbsp;&nbsp; 3393 | 3261981 |
|  |  | 8839690 |
| **Auto Parts & Equipment — 2.6%** | **Auto Parts & Equipment — 2.6%** | **Auto Parts & Equipment — 2.6%** |
| Adient Global Holdings Ltd., 4.88%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4625 | 4554583 |
| Clarios Global LP/Clarios U.S. Finance Co., 6.25%, <br> 05/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4600 | 4609577 |
| Goodyear Tire & Rubber Co. (The), 5.00%, <br> 05/31/26<sup>(b)</sup><br>| &nbsp;&nbsp; 5237 | 5143050 |
|  |  | 14307210 |
| **Banks — 2.1%** | **Banks — 2.1%** | **Banks — 2.1%** |
| Freedom Mortgage Corp., 7.63%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2822 | 2832459 |
| Intesa Sanpaolo SpA, 5.71%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8722 | 8734104 |
|  |  | 11566563 |
| **Chemicals — 1.7%** | **Chemicals — 1.7%** | **Chemicals — 1.7%** |
| GPD Companies Inc., 10.13%, 04/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2827 | 2687025 |
| Rayonier AM Products Inc., 7.63%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2656 | 2657896 |
| SCIL IV LLC/SCIL USA Holdings LLC, Class-H, <br> 5.38%, 11/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4380 | 4329492 |
|  |  | 9674413 |
| **Commercial Services — 5.2%** | **Commercial Services — 5.2%** | **Commercial Services — 5.2%** |
| Albion Financing 1 SARL/Aggreko Holdings Inc., <br> 6.13%, 10/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3170 | 3173665 |
| Block Inc., 2.75%, 06/01/26 | &nbsp;&nbsp; 5847 | 5635778 |
| Graham Holdings Co., 5.75%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2421 | 2421052 |
| Hertz Corp. (The), 4.63%, 12/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2835 | 2140294 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc., 5.75%, 04/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 8189 | 8194831 |
| Shift4 Payments LLC/Shift4 Payments Finance <br> Sub Inc., 4.63%, 11/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2683 | 2643129 |
| WASH Multifamily Acquisition Inc., 5.75%, <br> 04/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4829 | 4817675 |
|  |  | 29026424 |
| **Computers — 2.4%** | **Computers — 2.4%** | **Computers — 2.4%** |
| Western Digital Corp., 4.75%, 02/15/26 | &nbsp;&nbsp; 13310 | 13144193 |
| **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** |
| Wesco Aircraft Holdings Inc., 9.00%, 11/15/26<sup>(a)(c)(d)</sup> | &nbsp;&nbsp; 75 | 31225 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services — 7.0%** | **Diversified Financial Services — 7.0%** | **Diversified Financial Services — 7.0%** |
| Brightsphere Investment Group Inc., 4.80%, <br> 07/27/26<sup>(b)</sup><br>| &nbsp;&nbsp; $1501 | $1469398 |
| Credit Acceptance Corp., 6.63%, 03/15/26 | &nbsp;&nbsp; 2291 | 2290387 |
| GGAM Finance Ltd., 7.75%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2245 | 2287068 |
| goeasy Ltd., 4.38%, 05/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1610 | 1603061 |
| Jefferson Capital Holdings LLC, 6.00%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1636 | 1631135 |
| LFS Topco LLC, 5.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1664 | 1567847 |
| Nationstar Mortgage Holdings Inc., 5.00%, <br> 02/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2847 | 2819801 |
| Navient Corp., 6.75%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 2846 | 2901109 |
| OneMain Finance Corp., 7.13%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 9435 | 9666157 |
| PHH Mortgage Corp., 7.88%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1614 | 1646726 |
| Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer Inc., 2.88%, 10/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 6843 | 6516970 |
| SLM Corp., 3.13%, 11/02/26<sup>(b)</sup> | &nbsp;&nbsp; 2852 | 2700895 |
| World Acceptance Corp., 7.00%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1737 | 1719801 |
|  |  | 38820355 |
| **Electric — 2.1%** | **Electric — 2.1%** | **Electric — 2.1%** |
| Calpine Corp., 5.25%, 06/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 784 | 780099 |
| NextEra Energy Operating Partners LP, 3.88%, <br> 10/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2877 | 2775068 |
| Terraform Global Operating LP, 6.13%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2091 | 2091460 |
| Vistra Operations Co. LLC, 5.50%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 6054 | 6045232 |
|  |  | 11691859 |
| **Energy - Alternate Sources — 0.4%** | **Energy - Alternate Sources — 0.4%** | **Energy - Alternate Sources — 0.4%** |
| Sunnova Energy Corp., 5.88%, 09/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2360 | 2124988 |
| **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** |
| Brundage-Bone Concrete Pumping Holdings Inc., <br> 6.00%, 02/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2080 | 2069942 |
| INNOVATE Corp., 8.50%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1809 | 1475567 |
|  |  | 3545509 |
| **Entertainment — 4.6%** | **Entertainment — 4.6%** | **Entertainment — 4.6%** |
| AMC Entertainment Holdings Inc., 10.00%, 06/15/26, <br> (10.00% Cash or 12.00% PIK)<sup>(a)(b)(e)</sup><br>| &nbsp;&nbsp; 5650 | 5669996 |
| CCM Merger Inc., 6.38%, 05/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1272 | 1268083 |
| Empire Resorts Inc., 7.75%, 11/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1755 | 1674694 |
| International Game Technology PLC, 4.13%, <br> 04/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4220 | 4160529 |
| Live Nation Entertainment Inc., 5.63%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1598 | 1592917 |
| Merlin Entertainments Ltd., 5.75%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2290 | 2257264 |
| Mohegan Tribal Gaming Authority, 8.00%, <br> 02/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7007 | 6959992 |
| Raptor Acquisition Corp./Raptor Co-Issuer LLC, <br> 4.88%, 11/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 1772 | 1753906 |
|  |  | 25337381 |
| **Environmental Control — 1.0%** | **Environmental Control — 1.0%** | **Environmental Control — 1.0%** |
| GFL Environmental Inc., 5.13%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2837 | 2812012 |
| Waste Pro USA Inc., 5.50%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2926 | 2918527 |
|  |  | 5730539 |
| **Food — 1.2%** | **Food — 1.2%** | **Food — 1.2%** |
| Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| 3.25%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2956 | 2855622 |
| 7.50%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2341 | 2369692 |
| Sigma Holdco BV, 7.88%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1432 | 1419213 |
|  |  | 6644527 |
| **Forest Products & Paper — 0.3%** | **Forest Products & Paper — 0.3%** | **Forest Products & Paper — 0.3%** |
| Mercer International Inc., 5.50%, 01/15/26 | &nbsp;&nbsp; 1650 | 1650000 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2026 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Gas — 0.7%** | **Gas — 0.7%** | **Gas — 0.7%** |
| AmeriGas Partners LP/AmeriGas Finance Corp., <br> 5.88%, 08/20/26<br>| &nbsp;&nbsp; $3847 | $3767298 |
| **Health Care - Services — 2.4%** | **Health Care - Services — 2.4%** | **Health Care - Services — 2.4%** |
| IQVIA Inc., 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6030 | 5965628 |
| Select Medical Corp., 6.25%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 7182 | 7199935 |
|  |  | 13165563 |
| **Holding Companies - Diversified — 1.3%** | **Holding Companies - Diversified — 1.3%** | **Holding Companies - Diversified — 1.3%** |
| Icahn Enterprises LP/Icahn Enterprises Finance <br> Corp., 6.25%, 05/15/26<br>| &nbsp;&nbsp; 7339 | 7213363 |
| **Home Builders — 0.4%** | **Home Builders — 0.4%** | **Home Builders — 0.4%** |
| Forestar Group Inc., 3.85%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2161 | 2106875 |
| **Housewares — 2.5%** | **Housewares — 2.5%** | **Housewares — 2.5%** |
| Newell Brands Inc., 5.70%, 04/01/26 | &nbsp;&nbsp; 12121 | 12149929 |
| Scotts Miracle-Gro Co. (The), 5.25%, 12/15/26 | &nbsp;&nbsp; 1434 | 1429356 |
|  |  | 13579285 |
| **Internet — 1.1%** | **Internet — 1.1%** | **Internet — 1.1%** |
| Cogent Communications Group LLC, 3.50%, <br> 05/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2835 | 2756746 |
| Millennium Escrow Corp., 6.63%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5100 | 3265427 |
|  |  | 6022173 |
| **Iron & Steel — 0.5%** | **Iron & Steel — 0.5%** | **Iron & Steel — 0.5%** |
| Baffinland Iron Mines Corp./Baffinland Iron Mines LP, <br> 8.75%, 07/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3288 | 2980568 |
| **Leisure Time — 6.3%** | **Leisure Time — 6.3%** | **Leisure Time — 6.3%** |
| Carnival Corp., 7.63%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 8046 | 8103444 |
| Life Time Inc. |  |  |
| 5.75%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5662 | 5661036 |
| 8.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2473 | 2484184 |
| NCL Corp. Ltd., 5.88%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 8773 | 8761062 |
| Royal Caribbean Cruises Ltd. |  |  |
| 4.25%, 07/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4007 | 3932449 |
| 5.50%, 08/31/26<sup>(a)</sup> | &nbsp;&nbsp; 5972 | 5977363 |
|  |  | 34919538 |
| **Lodging — 3.4%** | **Lodging — 3.4%** | **Lodging — 3.4%** |
| Melco Resorts Finance Ltd., 5.25%, 04/26/26<sup>(b)(f)</sup> | &nbsp;&nbsp; 2915 | 2856984 |
| MGM China Holdings Ltd., 5.88%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4235 | 4212299 |
| MGM Resorts International, 4.63%, 09/01/26 | &nbsp;&nbsp; 2171 | 2151815 |
| Travel & Leisure Co., 6.63%, 07/31/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3735 | 3763972 |
| Wynn Macau Ltd., 5.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6080 | 6015970 |
|  |  | 19001040 |
| **Manufacturing — 2.0%** | **Manufacturing — 2.0%** | **Manufacturing — 2.0%** |
| Enpro Inc., 5.75%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 1742 | 1737308 |
| FXI Holdings Inc. |  |  |
| 12.25%, 11/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3013 | 2993557 |
| 12.25%, 11/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4374 | 4358088 |
| Hillenbrand Inc., 5.00%, 09/15/26 | &nbsp;&nbsp; 2031 | 2013498 |
|  |  | 11102451 |
| **Media — 6.6%** | **Media — 6.6%** | **Media — 6.6%** |
| CCO Holdings LLC/CCO Holdings Capital Corp., <br> 5.50%, 05/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4339 | 4327123 |
| DISH DBS Corp. |  |  |
| 5.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 9828 | 9096733 |
| 7.75%, 07/01/26 | &nbsp;&nbsp; 7195 | 6078885 |
| iHeartCommunications Inc., 6.38%, 05/01/26 | &nbsp;&nbsp; 2720 | 2298202 |
| Radiate Holdco LLC/Radiate Finance Inc., 4.50%, <br> 09/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4226 | 3666405 |
| Sirius XM Radio Inc., 3.13%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5718 | 5489840 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| TEGNA Inc., 4.75%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; $3113 | $3085925 |
| Townsquare Media Inc., 6.88%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2846 | 2837458 |
|  |  | 36880571 |
| **Mining — 1.6%** | **Mining — 1.6%** | **Mining — 1.6%** |
| Hudbay Minerals Inc., 4.50%, 04/01/26<sup>(f)</sup> | &nbsp;&nbsp; 3567 | 3522818 |
| JW Aluminum Continuous Cast Co., 10.25%, <br> 06/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 1369 | 1373637 |
| Novelis Corp., 3.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4349 | 4182315 |
|  |  | 9078770 |
| **Oil & Gas — 3.7%** | **Oil & Gas — 3.7%** | **Oil & Gas — 3.7%** |
| Berry Petroleum Co. LLC, 7.00%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2280 | 2224766 |
| California Resources Corp., 7.13%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 919 | 922129 |
| Chord Energy Corp., 6.38%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2273 | 2276465 |
| Civitas Resources Inc., 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2231 | 2191535 |
| Expand Energy Corp., 5.50%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2447 | 2443360 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil & <br> Gas Finance Corp., 6.00%, 08/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2381 | 2376129 |
| Permian Resources Operating LLC, 5.38%, <br> 01/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1425 | 1417661 |
| SM Energy Co., 6.75%, 09/15/26 | &nbsp;&nbsp; 2463 | 2464576 |
| Strathcona Resources Ltd., 6.88%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2835 | 2813616 |
| W&T Offshore Inc., 11.75%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1491 | 1506245 |
|  |  | 20636482 |
| **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** |
| Solaris Midstream Holdings LLC, 7.63%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2385 | 2399114 |
| Welltec International ApS, 8.25%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1121 | 1142681 |
|  |  | 3541795 |
| **Packaging & Containers — 4.0%** | **Packaging & Containers — 4.0%** | **Packaging & Containers — 4.0%** |
| Ardagh Packaging Finance PLC/Ardagh Holdings <br> USA Inc., 4.13%, 08/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4280 | 3724385 |
| Ball Corp., 4.88%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 1489 | 1481155 |
| Berry Global Inc., 4.50%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1639 | 1616915 |
| Crown Americas LLC/Crown Americas Capital Corp. <br> V, 4.25%, 09/30/26<br>| &nbsp;&nbsp; 2319 | 2269634 |
| Crown Americas LLC/Crown Americas Capital Corp. <br> VI, 4.75%, 02/01/26<br>| &nbsp;&nbsp; 5059 | 5016391 |
| Crown Cork & Seal Co. Inc., 7.38%, 12/15/26 | &nbsp;&nbsp; 2000 | 2077516 |
| Trivium Packaging Finance BV, 5.50%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6110 | 6055052 |
|  |  | 22241048 |
| **Pipelines — 4.1%** | **Pipelines — 4.1%** | **Pipelines — 4.1%** |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., <br> 6.63%, 07/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 1502 | 1500479 |
| Buckeye Partners LP, 3.95%, 12/01/26 | &nbsp;&nbsp; 3483 | 3347075 |
| EQM Midstream Partners LP, 4.13%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 2813 | 2756938 |
| Hess Midstream Operations LP, 5.63%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4590 | 4579527 |
| New Fortress Energy Inc., 6.50%, 09/30/26<sup>(a)</sup> | &nbsp;&nbsp; 6287 | 5815137 |
| NuStar Logistics LP, 6.00%, 06/01/26 | &nbsp;&nbsp; 2852 | 2852635 |
| TransMontaigne Partners LP/TLP Finance Corp., <br> 6.13%, 02/15/26<br>| &nbsp;&nbsp; 1650 | 1623218 |
|  |  | 22475009 |
| **Real Estate Investment Trusts — 4.3%** | **Real Estate Investment Trusts — 4.3%** | **Real Estate Investment Trusts — 4.3%** |
| Brookfield Property REIT Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC, 5.75%, <br> 05/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4848 | 4810212 |
| Diversified Healthcare Trust, 0.00%, 01/15/26<sup>(a)(g)</sup> | &nbsp;&nbsp; 5527 | 5088032 |
| MPT Operating Partnership LP/MPT Finance Corp., <br> 5.25%, 08/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 2863 | 2709571 |
| RLJ Lodging Trust LP, 3.75%, 07/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2850 | 2763969 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2026 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Service Properties Trust |  |  |
| 4.75%, 10/01/26<sup>(b)</sup> | &nbsp;&nbsp; $2696 | $2551988 |
| 5.25%, 02/15/26 | &nbsp;&nbsp; 1971 | 1915585 |
| Starwood Property Trust Inc., 3.63%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2255 | 2164808 |
| Vornado Realty LP, 2.15%, 06/01/26 | &nbsp;&nbsp; 2225 | 2106528 |
|  |  | 24110693 |
| **Retail — 4.8%** | **Retail — 4.8%** | **Retail — 4.8%** |
| Advance Auto Parts Inc., 5.90%, 03/09/26<sup>(b)</sup> | &nbsp;&nbsp; 1598 | 1608791 |
| Beacon Roofing Supply Inc., 4.50%, 11/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1628 | 1594658 |
| CEC Entertainment LLC, 6.75%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3732 | 3714330 |
| Ferrellgas LP/Ferrellgas Finance Corp., 5.38%, <br> 04/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3699 | 3673749 |
| Guitar Center Inc., 8.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1984 | 1692143 |
| NMG Holding Co. Inc./Neiman Marcus Group LLC, <br> 8.50%, 04/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4322 | 4397524 |
| Walgreens Boots Alliance Inc., 3.45%, 06/01/26 | &nbsp;&nbsp; 8753 | 8422995 |
| White Cap Parent LLC, 8.25%, 03/15/26, <br> (9.00% PIK)<sup>(a)(b)(e)</sup><br>| &nbsp;&nbsp; 1720 | 1720512 |
|  |  | 26824702 |
| **Software — 1.8%** | **Software — 1.8%** | **Software — 1.8%** |
| ACI Worldwide Inc., 5.75%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2149 | 2147256 |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4025 | 3954389 |
| Consensus Cloud Solutions Inc., 6.00%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1401 | 1390332 |
| Fair Isaac Corp., 5.25%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2293 | 2295530 |
|  |  | 9787507 |
| **Telecommunications — 3.6%** | **Telecommunications — 3.6%** | **Telecommunications — 3.6%** |
| CommScope LLC, 6.00%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 7667 | 7489723 |
| Hughes Satellite Systems Corp. |  |  |
| 5.25%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 4530 | 4158132 |
| 6.63%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 4840 | 4145329 |
| Iliad Holding SASU, 6.50%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3925 | 3954628 |
|  |  | 19747812 |
| **Trucking & Leasing — 0.4%** | **Trucking & Leasing — 0.4%** | **Trucking & Leasing — 0.4%** |
| NAC Aviation 29 DAC, 4.75%, 06/30/26<sup>(b)</sup> | &nbsp;&nbsp; 2317 | 2213090 |
| **Total Long-Term Investments — 96.2%** <br>**(Cost: $530,548,956)** | **Total Long-Term Investments — 96.2%** <br>**(Cost: $530,548,956)** | 534488750 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 9.8%** | **Money Market Funds — 9.8%** | **Money Market Funds — 9.8%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(h)(i)(j)</sup><br>| &nbsp;&nbsp; 45408595 | $45440381 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(h)(i)</sup><br>| &nbsp;&nbsp; 8660000 | 8660000 |
| **Total Short-Term Securities — 9.8%** <br>**(Cost: $54,087,869)** | **Total Short-Term Securities — 9.8%** <br>**(Cost: $54,087,869)** | 54100381 |
| **Total Investments — 106.0%** <br>**(Cost: $584,636,825)** | **Total Investments — 106.0%** <br>**(Cost: $584,636,825)** | 588589131 |
| **Liabilities in Excess of Other Assets — (6.0)%** | **Liabilities in Excess of Other Assets — (6.0)%** | (33159155)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $555429976 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(d)</sup> Non-income producing security.

<sup>(e)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(f)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(g)</sup> Zero-coupon bond.

<sup>(h)</sup> Affiliate of the Fund.

<sup>(i)</sup> Annualized 7-day yield as of period end.

<sup>(j)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $21440767<br> $23985012 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $7268 | $7334 | $45440381 | 45408595 | $264918 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 1130000<br> 7530000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 8660000 | 8660000 | 515493 | &nbsp;&nbsp; — |
|  |  |  | $7268 | $7334 | $54100381 |  | $780411 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2026 Term High Yield and Income ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $534488750 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $534488750 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 54100381 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 54100381 |
|  | &nbsp;&nbsp; $54100381 | &nbsp;&nbsp; $534488750 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $588589131 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® 2027 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 1.1%** | **Advertising — 1.1%** | **Advertising — 1.1%** |
| Clear Channel Outdoor Holdings Inc., 5.13%, <br> 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; $1337 | $1298901 |
| Outfront Media Capital LLC/Outfront Media Capital <br> Corp., 5.00%, 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 683 | 672439 |
|  |  | 1971340 |
| **Aerospace & Defense — 2.5%** | **Aerospace & Defense — 2.5%** | **Aerospace & Defense — 2.5%** |
| Bombardier Inc., 7.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 987 | 988421 |
| Moog Inc., 4.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 527 | 504029 |
| TransDigm Inc., 5.50%, 11/15/27 | &nbsp;&nbsp; 2824 | 2801096 |
|  |  | 4293546 |
| **Agriculture — 0.3%** | **Agriculture — 0.3%** | **Agriculture — 0.3%** |
| Darling Ingredients Inc., 5.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 520963 |
| **Airlines — 0.6%** | **Airlines — 0.6%** | **Airlines — 0.6%** |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 588 | 579111 |
| VistaJet Malta Finance PLC/Vista Management <br> Holding Inc., 7.88%, 05/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 534 | 520190 |
|  |  | 1099301 |
| **Apparel — 0.6%** | **Apparel — 0.6%** | **Apparel — 0.6%** |
| VF Corp., 2.80%, 04/23/27<sup>(b)</sup> | &nbsp;&nbsp; 540 | 509074 |
| William Carter Co. (The), 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 523231 |
|  |  | 1032305 |
| **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** |
| Allison Transmission Inc., 4.75%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 420 | 409539 |
| Jaguar Land Rover Automotive PLC, 4.50%, <br> 10/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 556 | 536959 |
|  |  | 946498 |
| **Auto Parts & Equipment — 2.4%** | **Auto Parts & Equipment — 2.4%** | **Auto Parts & Equipment — 2.4%** |
| American Axle & Manufacturing Inc., 6.50%, <br> 04/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 531 | 528216 |
| Clarios Global LP/Clarios U.S. Finance Co., 8.50%, <br> 05/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2080 | 2091457 |
| Cooper-Standard Automotive Inc., 10.63%, 05/15/27, <br> (10.63% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 419 | 345150 |
| Dana Inc., 5.38%, 11/15/27 | &nbsp;&nbsp; 420 | 410836 |
| Goodyear Tire & Rubber Co. (The), 4.88%, <br> 03/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 759 | 731744 |
|  |  | 4107403 |
| **Banks — 0.3%** | **Banks — 0.3%** | **Banks — 0.3%** |
| Freedom Mortgage Corp., 6.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 591 | 584226 |
| **Building Materials — 1.3%** | **Building Materials — 1.3%** | **Building Materials — 1.3%** |
| Eco Material Technologies Inc., 7.88%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 685 | 689538 |
| Jeld-Wen Inc., 4.88%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 406509 |
| Standard Industries Inc./New York, 5.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 909 | 890462 |
| Summit Materials LLC/Summit Materials Finance <br> Corp., 6.50%, 03/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 315 | 314836 |
|  |  | 2301345 |
| **Chemicals — 2.4%** | **Chemicals — 2.4%** | **Chemicals — 2.4%** |
| Axalta Coating Systems LLC/Axalta Coating Systems <br> Dutch Holding B BV, 4.75%, 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 521 | 510566 |
| Chemours Co. (The), 5.38%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 529 | 508163 |
| HB Fuller Co., 4.00%, 02/15/27 | &nbsp;&nbsp; 315 | 306036 |
| Methanex Corp., 5.13%, 10/15/27 | &nbsp;&nbsp; 759 | 738605 |
| Olin Corp., 5.13%, 09/15/27 | &nbsp;&nbsp; 526 | 518675 |
| Olympus Water U.S. Holding Corp., 7.13%, <br> 10/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 340 | 345276 |
| SNF Group SACA, 3.13%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 384 | 365151 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| WR Grace Holdings LLC, 4.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; $793 | $777750 |
|  |  | 4070222 |
| **Commercial Services — 6.0%** | **Commercial Services — 6.0%** | **Commercial Services — 6.0%** |
| Albion Financing 2 SARL, 8.75%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 489 | 499651 |
| Allied Universal Holdco LLC/Allied Universal Finance <br> Corp., 9.75%, 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1124 | 1126485 |
| AMN Healthcare Inc., 4.63%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 532 | 512838 |
| Avis Budget Car Rental LLC/Avis Budget Finance Inc. |  |  |
| 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 412642 |
| 5.75%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 371 | 362282 |
| Brink's Co. (The), 4.63%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 631 | 612905 |
| Garda World Security Corp. |  |  |
| 4.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 609 | 592872 |
| 9.50%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 604 | 604195 |
| Herc Holdings Inc., 5.50%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1261 | 1251133 |
| Korn Ferry, 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 420 | 409354 |
| Matthews International Corp., 8.63%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 315 | 324589 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc., 3.38%, 08/31/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1059 | 995940 |
| Service Corp. International/U.S., 4.63%, 12/15/27 | &nbsp;&nbsp; 578 | 565960 |
| Sotheby's, 7.38%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 817 | 793425 |
| United Rentals North America Inc. |  |  |
| 3.88%, 11/15/27 | &nbsp;&nbsp; 788 | 758580 |
| 5.50%, 05/15/27 | &nbsp;&nbsp; 536 | 535100 |
|  |  | 10357951 |
| **Computers — 0.6%** | **Computers — 0.6%** | **Computers — 0.6%** |
| Seagate HDD Cayman, 4.88%, 06/01/27 | &nbsp;&nbsp; 531 | 524329 |
| Unisys Corp., 6.88%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 518 | 506961 |
|  |  | 1031290 |
| **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** |
| BCPE Empire Holdings Inc., 7.63%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 694 | 698059 |
| **Diversified Financial Services — 3.9%** | **Diversified Financial Services — 3.9%** | **Diversified Financial Services — 3.9%** |
| AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 530 | 547383 |
| Castlelake Aviation Finance DAC, 5.00%, <br> 04/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 442 | 444775 |
| GGAM Finance Ltd., 8.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 736 | 760448 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1174 | 1212997 |
| LD Holdings Group LLC, 8.75%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 364 | 348487 |
| Nationstar Mortgage Holdings Inc., 6.00%, <br> 01/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 631 | 628557 |
| Navient Corp., 5.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 744 | 731725 |
| OneMain Finance Corp., 3.50%, 01/15/27 | &nbsp;&nbsp; 810 | 772958 |
| Osaic Holdings Inc., 10.75%, 08/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 371 | 382852 |
| Oxford Finance LLC/Oxford Finance Co-Issuer II Inc., <br> 6.38%, 02/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 445 | 438610 |
| United Wholesale Mortgage LLC, 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 517225 |
|  |  | 6786017 |
| **Electric — 1.9%** | **Electric — 1.9%** | **Electric — 1.9%** |
| NextEra Energy Operating Partners LP, 4.50%, <br> 09/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 588 | 564464 |
| Vistra Operations Co. LLC |  |  |
| 5.00%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp; 1371 | 1353758 |
| 5.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1386 | 1382342 |
|  |  | 3300564 |
| **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** |
| EnerSys, 4.38%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 315 | 303965 |
| **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** |
| AECOM, 5.13%, 03/15/27 | &nbsp;&nbsp; 1067 | 1060472 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2027 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment — 4.6%** | **Entertainment — 4.6%** | **Entertainment — 4.6%** |
| Affinity Interactive, 6.88%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; $583 | $477966 |
| Caesars Entertainment Inc., 8.13%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 574 | 585580 |
| Cedar Fair LP/Canada's Wonderland Co./Magnum <br> Management Corp./Millennium Op, 5.38%, <br> 04/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 526 | 521104 |
| Churchill Downs Inc., 5.50%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 631 | 627005 |
| International Game Technology PLC, 6.25%, <br> 01/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 788 | 795874 |
| Live Nation Entertainment Inc. |  |  |
| 4.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 1019 | 991099 |
| 6.50%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1264 | 1281198 |
| Mohegan Tribal Gaming Authority, 13.25%, <br> 12/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 528 | 598624 |
| Motion Bondco DAC, 6.63%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 438 | 413412 |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 421 | 443300 |
| Penn Entertainment Inc., 5.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 420 | 412329 |
| Six Flags Entertainment Corp./DE, 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 522547 |
| Speedway Motorsports LLC/Speedway Funding <br> II Inc., 4.88%, 11/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 364 | 355871 |
|  |  | 8025909 |
| **Environmental Control — 0.6%** | **Environmental Control — 0.6%** | **Environmental Control — 0.6%** |
| Clean Harbors Inc., 4.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 573 | 564510 |
| Enviri Corp., 5.75%, 07/31/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 500 | 481677 |
|  |  | 1046187 |
| **Food — 1.6%** | **Food — 1.6%** | **Food — 1.6%** |
| Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC, 4.63%, 01/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1185 | 1161613 |
| B&G Foods Inc., 5.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 579 | 561721 |
| Performance Food Group Inc., 5.50%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1132 | 1123459 |
|  |  | 2846793 |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| AmeriGas Partners LP/AmeriGas Finance Corp., <br> 5.75%, 05/20/27<br>| &nbsp;&nbsp; 547 | 527418 |
| **Health Care - Products — 0.3%** | **Health Care - Products — 0.3%** | **Health Care - Products — 0.3%** |
| Teleflex Inc., 4.63%, 11/15/27 | &nbsp;&nbsp; 526 | 516670 |
| **Health Care - Services — 4.7%** | **Health Care - Services — 4.7%** | **Health Care - Services — 4.7%** |
| Catalent Pharma Solutions Inc., 5.00%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 522544 |
| CHS/Community Health Systems Inc. |  |  |
| 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1970 | 1920722 |
| 8.00%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 752 | 750120 |
| IQVIA Inc., 5.00%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1155 | 1140502 |
| LifePoint Health Inc., 4.38%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 631 | 612328 |
| Tenet Healthcare Corp. |  |  |
| 5.13%, 11/01/27 | &nbsp;&nbsp; 1601 | 1588071 |
| 6.25%, 02/01/27 | &nbsp;&nbsp; 1606 | 1606915 |
|  |  | 8141202 |
| **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** |
| Icahn Enterprises LP/Icahn Enterprises Finance <br> Corp., 5.25%, 05/15/27<br>| &nbsp;&nbsp; 1561 | 1454310 |
| **Home Builders — 1.9%** | **Home Builders — 1.9%** | **Home Builders — 1.9%** |
| Beazer Homes USA Inc., 5.88%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 377 | 373904 |
| Brookfield Residential Properties Inc./Brookfield <br> Residential U.S. LLC, 6.25%, 09/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 631 | 626275 |
| Century Communities Inc., 6.75%, 06/01/27 | &nbsp;&nbsp; 526 | 529169 |
| KB Home, 6.88%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 320 | 330342 |
| Mattamy Group Corp., 5.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 518469 |
| Taylor Morrison Communities Inc., 5.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 528913 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Builders (continued)** | **Home Builders (continued)** | **Home Builders (continued)** |
| Tri Pointe Homes Inc., 5.25%, 06/01/27 | &nbsp;&nbsp; $315 | $311189 |
|  |  | 3218261 |
| **Housewares — 0.3%** | **Housewares — 0.3%** | **Housewares — 0.3%** |
| Newell Brands Inc., 6.38%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 525 | 531418 |
| **Insurance — 1.3%** | **Insurance — 1.3%** | **Insurance — 1.3%** |
| Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer<br>|  |  |
| 4.25%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 805 | 763612 |
| 6.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1429 | 1423674 |
|  |  | 2187286 |
| **Internet — 3.6%** | **Internet — 3.6%** | **Internet — 3.6%** |
| Cablevision Lightpath LLC, 3.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 479 | 454858 |
| Cogent Communications Group Inc./Cogent <br> Communications Finance Inc., 7.00%, 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 316 | 317582 |
| Cogent Communications Group LLC, 7.00%, <br> 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 473 | 478236 |
| Gen Digital Inc., 6.75%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 962 | 978255 |
| Getty Images Inc., 9.75%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 316 | 314945 |
| Go Daddy Operating Co. LLC/GD Finance Co. Inc., <br> 5.25%, 12/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 631 | 623258 |
| GrubHub Holdings Inc., 5.50%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 534 | 497328 |
| Match Group Holdings II LLC, 5.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 480 | 468445 |
| Rakuten Group Inc., 11.25%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 1930 | 2097150 |
|  |  | 6230057 |
| **Iron & Steel — 1.4%** | **Iron & Steel — 1.4%** | **Iron & Steel — 1.4%** |
| ATI Inc., 5.88%, 12/01/27 | &nbsp;&nbsp; 370 | 367990 |
| Cleveland-Cliffs Inc., 5.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 583 | 582193 |
| Mineral Resources Ltd. |  |  |
| 8.00%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 665 | 681272 |
| 8.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 736 | 740959 |
|  |  | 2372414 |
| **Leisure Time — 4.7%** | **Leisure Time — 4.7%** | **Leisure Time — 4.7%** |
| Carnival Corp., 5.75%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2924 | 2932286 |
| Lindblad Expeditions LLC, 6.75%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 378 | 379636 |
| NCL Corp. Ltd., 5.88%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1054 | 1052889 |
| Royal Caribbean Cruises Ltd. |  |  |
| 5.38%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1069 | 1066878 |
| 7.50%, 10/15/27 | &nbsp;&nbsp; 320 | 339143 |
| Sabre GLBL Inc. |  |  |
| 8.63%, 06/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 964 | 930482 |
| 11.25%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 593 | 610094 |
| Viking Cruises Ltd., 5.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 867 | 861651 |
|  |  | 8173059 |
| **Lodging — 3.7%** | **Lodging — 3.7%** | **Lodging — 3.7%** |
| Boyd Gaming Corp., 4.75%, 12/01/27 | &nbsp;&nbsp; 1066 | 1045929 |
| Hilton Worldwide Finance LLC/Hilton Worldwide <br> Finance Corp., 4.88%, 04/01/27<br>| &nbsp;&nbsp; 631 | 624563 |
| Melco Resorts Finance Ltd., 5.63%, 07/17/27<sup>(d)</sup> | &nbsp;&nbsp; 652 | 631942 |
| MGM China Holdings Ltd., 4.75%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 805 | 778840 |
| MGM Resorts International, 5.50%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 717 | 715375 |
| Studio City Co. Ltd., 7.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 374 | 375219 |
| Travel & Leisure Co., 6.00%, 04/01/27 | &nbsp;&nbsp; 428 | 431792 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., <br> 5.25%, 05/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 959 | 951989 |
| Wynn Macau Ltd., 5.50%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 805 | 780383 |
|  |  | 6336032 |
| **Machinery — 0.9%** | **Machinery — 0.9%** | **Machinery — 0.9%** |
| TK Elevator U.S. Newco Inc., 5.25%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1666 | 1639757 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2027 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| Amsted Industries Inc., 5.63%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; $420 | $417189 |
| **Media — 11.9%** | **Media — 11.9%** | **Media — 11.9%** |
| CCO Holdings LLC/CCO Holdings Capital Corp., <br> 5.13%, 05/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 3482 | 3410860 |
| CSC Holdings LLC, 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1400 | 1246004 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 3955 | 3808670 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3729 | 3925686 |
| Gray Television Inc., 7.00%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 713 | 694525 |
| LCPR Senior Secured Financing DAC, 6.75%, <br> 10/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1253 | 1174547 |
| Nexstar Media Inc., 5.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1832 | 1800493 |
| Scripps Escrow Inc., 5.88%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 455 | 401251 |
| Sinclair Television Group Inc., 5.13%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 297 | 262843 |
| Sirius XM Radio Inc., 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1601 | 1569564 |
| Univision Communications Inc., 6.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1601 | 1590841 |
| Ziggo Bond Co. BV, 6.00%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 666 | 664790 |
|  |  | 20550074 |
| **Metal Fabricate & Hardware — 0.4%** | **Metal Fabricate & Hardware — 0.4%** | **Metal Fabricate & Hardware — 0.4%** |
| Advanced Drainage Systems Inc., 5.00%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 368 | 361584 |
| Park-Ohio Industries Inc., 6.63%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 366 | 356427 |
|  |  | 718011 |
| **Mining — 1.4%** | **Mining — 1.4%** | **Mining — 1.4%** |
| Alcoa Nederland Holding BV, 5.50%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 788 | 784159 |
| Compass Minerals International Inc., 6.75%, <br> 12/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 526 | 518679 |
| FMG Resources August 2006 Pty. Ltd., 4.50%, <br> 09/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 630 | 614268 |
| New Gold Inc., 7.50%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 430 | 436841 |
|  |  | 2353947 |
| **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** |
| Pitney Bowes Inc., 6.88%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 407 | 402772 |
| **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** |
| Ascent Resources Utica Holdings LLC/ARU Finance <br> Corp., 9.00%, 11/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 366 | 434475 |
| Calumet Specialty Products Partners LP/Calumet <br> Finance Corp., 8.13%, 01/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 347 | 348266 |
| EnQuest PLC, 11.63%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 492 | 495655 |
| Nabors Industries Inc., 7.38%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 759 | 760241 |
| Parkland Corp., 5.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 520629 |
| Permian Resources Operating LLC, 8.00%, <br> 04/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 578 | 593997 |
| SM Energy Co., 6.63%, 01/15/27 | &nbsp;&nbsp; 446 | 445601 |
| Sunoco LP/Sunoco Finance Corp., 6.00%, 04/15/27 | &nbsp;&nbsp; 631 | 631390 |
| Transocean Inc., 8.00%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 710 | 708175 |
| Transocean Poseidon Ltd., 6.88%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 347 | 347287 |
| Viper Energy Inc., 5.38%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 452 | 446765 |
|  |  | 5732481 |
| **Oil & Gas Services — 1.3%** | **Oil & Gas Services — 1.3%** | **Oil & Gas Services — 1.3%** |
| Archrock Partners LP/Archrock Partners Finance <br> Corp., 6.88%, 04/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 315 | 315833 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 598 | 621555 |
| USA Compression Partners LP/USA Compression <br> Finance Corp., 6.88%, 09/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 788 | 790838 |
| Viridien, 8.75%, 04/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 531 | 512301 |
|  |  | 2240527 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers — 5.5%** | **Packaging & Containers — 5.5%** | **Packaging & Containers — 5.5%** |
| Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC, 6.00%, 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; $632 | $630428 |
| Berry Global Inc., 5.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 526 | 525166 |
| Graphic Packaging International LLC, 4.75%, <br> 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 315 | 309047 |
| LABL Inc., 10.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 742 | 734743 |
| Mauser Packaging Solutions Holding Co. |  |  |
| 7.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2894 | 2973452 |
| 9.25%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 1436 | 1468729 |
| Owens-Brockway Glass Container Inc., 6.63%, <br> 05/13/27<sup>(a)</sup><br>| &nbsp;&nbsp; 643 | 640143 |
| Pactiv Evergreen Group Issuer Inc./Pactiv Evergreen <br> Group Issuer LLC, 4.00%, 10/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1064 | 1016551 |
| Sealed Air Corp., 4.00%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 454 | 434728 |
| Trivium Packaging Finance BV, 8.50%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 732 | 730959 |
|  |  | 9463946 |
| **Pharmaceuticals — 0.8%** | **Pharmaceuticals — 0.8%** | **Pharmaceuticals — 0.8%** |
| Bausch Health Companies Inc. |  |  |
| 5.75%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 535 | 444051 |
| 6.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1070 | 969555 |
|  |  | 1413606 |
| **Pipelines — 3.4%** | **Pipelines — 3.4%** | **Pipelines — 3.4%** |
| Antero Midstream Partners LP/Antero Midstream <br> Finance Corp., 5.75%, 03/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 683 | 681466 |
| Buckeye Partners LP, 4.13%, 12/01/27 | &nbsp;&nbsp; 420 | 401796 |
| EQM Midstream Partners LP |  |  |
| 6.50%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 963 | 985051 |
| 7.50%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 531 | 544275 |
| FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 639 | 682255 |
| Genesis Energy LP/Genesis Energy Finance Corp., <br> 8.00%, 01/15/27<br>| &nbsp;&nbsp; 1050 | 1068796 |
| Global Partners LP/GLP Finance Corp., 7.00%, <br> 08/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 420 | 420959 |
| NuStar Logistics LP, 5.63%, 04/28/27 | &nbsp;&nbsp; 580 | 575164 |
| Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp., 6.00%, 03/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 452 | 448460 |
|  |  | 5808222 |
| **Real Estate Investment Trusts — 5.2%** | **Real Estate Investment Trusts — 5.2%** | **Real Estate Investment Trusts — 5.2%** |
| Blackstone Mortgage Trust Inc., 3.75%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 353 | 330066 |
| Brandywine Operating Partnership LP, 3.95%, <br> 11/15/27<br>| &nbsp;&nbsp; 481 | 450020 |
| Brookfield Property REIT Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 802 | 772911 |
| Global Net Lease Inc./Global Net Lease Operating <br> Partnership LP, 3.75%, 12/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 532 | 487927 |
| Hudson Pacific Properties LP, 3.95%, 11/01/27 | &nbsp;&nbsp; 428 | 384145 |
| Iron Mountain Inc., 4.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1054 | 1034613 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp., 4.25%, 02/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 643 | 622304 |
| MPT Operating Partnership LP/MPT Finance Corp., <br> 5.00%, 10/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 1508 | 1331266 |
| RHP Hotel Properties LP/RHP Finance Corp., 4.75%, <br> 10/15/27<br>| &nbsp;&nbsp; 747 | 732046 |
| SBA Communications Corp., 3.88%, 02/15/27 | &nbsp;&nbsp; 1597 | 1545769 |
| Service Properties Trust |  |  |
| 4.95%, 02/15/27 | &nbsp;&nbsp; 425 | 394878 |
| 5.50%, 12/15/27 | &nbsp;&nbsp; 483 | 457161 |
| Starwood Property Trust Inc., 4.38%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 534 | 515040 |
|  |  | 9058146 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2027 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail — 2.4%** | **Retail — 2.4%** | **Retail — 2.4%** |
| Academy Ltd., 6.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; $420 | $418775 |
| Advance Auto Parts Inc., 1.75%, 10/01/27 | &nbsp;&nbsp; 374 | 333240 |
| Bath & Body Works Inc., 6.69%, 01/15/27 | &nbsp;&nbsp; 312 | 319572 |
| BCPE Ulysses Intermediate Inc., 7.75%, 04/01/27, <br> (7.75% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 428 | 417435 |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of <br> America LLC, 4.75%, 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 788 | 780717 |
| Lithia Motors Inc., 4.63%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 407432 |
| Murphy Oil USA Inc., 5.63%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 322 | 322795 |
| Nordstrom Inc., 4.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 368 | 352712 |
| Patrick Industries Inc., 7.50%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 300 | 300039 |
| QVC Inc., 6.88%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 189 | 162597 |
| Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.88%, 03/01/27<br>| &nbsp;&nbsp; 368 | 366918 |
|  |  | 4182232 |
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| Amkor Technology Inc., 6.63%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 552 | 553548 |
| **Software — 1.5%** | **Software — 1.5%** | **Software — 1.5%** |
| SS&C Technologies Inc., 5.50%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 2142 | 2133289 |
| West Technology Group LLC, 8.50%, 04/10/27<sup>(a)</sup> | &nbsp;&nbsp; 474 | 396998 |
|  |  | 2530287 |
| **Telecommunications — 3.0%** | **Telecommunications — 3.0%** | **Telecommunications — 3.0%** |
| Altice Financing SA, 9.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 395 | 383675 |
| Altice France SA, 8.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1853 | 1534129 |
| Frontier Communications Holdings LLC, 5.88%, <br> 10/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1230 | 1227387 |
| ViaSat Inc., 5.63%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 643 | 601170 |
| Zayo Group Holdings Inc., 4.00%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 1564 | 1392094 |
|  |  | 5138455 |
| **Transportation — 0.2%** | **Transportation — 0.2%** | **Transportation — 0.2%** |
| RXO Inc., 7.50%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 373 | 387304 |
| **Total Long-Term Investments — 97.3%** <br>**(Cost: $165,929,691)** | **Total Long-Term Investments — 97.3%** <br>**(Cost: $165,929,691)** | 168662987 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 14.5%** | **Money Market Funds — 14.5%** | **Money Market Funds — 14.5%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 20982410 | $20997097 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 4200000 | 4200000 |
| **Total Short-Term Securities — 14.5%** <br>**(Cost: $25,190,485)** | **Total Short-Term Securities — 14.5%** <br>**(Cost: $25,190,485)** | 25197097 |
| **Total Investments — 111.8%** <br>**(Cost: $191,120,176)** | **Total Investments — 111.8%** <br>**(Cost: $191,120,176)** | 193860084 |
| **Liabilities in Excess of Other Assets — (11.8)%** | **Liabilities in Excess of Other Assets — (11.8)%** | (20409574)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $173450510 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

<sup>(g)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $5082698<br> $15910913 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(1227)<br>| $4713 | $20997097 | 20982410 | $66013 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 490000<br> 3710000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 4200000 | 4200000 | 56213 | &nbsp;&nbsp; — |
|  |  |  | $(1227)<br>| $4713 | $25197097 |  | $122226 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2027 Term High Yield and Income ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $168662987 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $168662987 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 25197097 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 25197097 |
|  | &nbsp;&nbsp; $25197097 | &nbsp;&nbsp; $168662987 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $193860084 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® 2031 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.7%** | **Advertising — 0.7%** | **Advertising — 0.7%** |
| Lamar Media Corp., 3.63%, 01/15/31 | &nbsp;&nbsp; $50 | $44716 |
| Outfront Media Capital LLC/Outfront Media Capital <br> Corp., 7.38%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 37 | 39083 |
|  |  | 83799 |
| **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** |
| Bombardier Inc., 7.25%, 07/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 67 | 69268 |
| TransDigm Inc., 7.13%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 89 | 92249 |
|  |  | 161517 |
| **Airlines — 1.4%** | **Airlines — 1.4%** | **Airlines — 1.4%** |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(a)</sup><br>| &nbsp;&nbsp; 169 | 175472 |
| **Apparel — 1.3%** | **Apparel — 1.3%** | **Apparel — 1.3%** |
| Crocs Inc., 4.13%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 30 | 26275 |
| Hanesbrands Inc., 9.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 50 | 53671 |
| Levi Strauss & Co., 3.50%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 35236 |
| S&S Holdings LLC, 8.38%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 53 | 53147 |
|  |  | 168329 |
| **Auto Manufacturers — 1.1%** | **Auto Manufacturers — 1.1%** | **Auto Manufacturers — 1.1%** |
| Allison Transmission Inc., 3.75%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp; 89 | 78839 |
| JB Poindexter & Co. Inc., 8.75%, 12/15/31<sup>(a)</sup> | &nbsp;&nbsp; 55 | 57729 |
|  |  | 136568 |
| **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** |
| Adient Global Holdings Ltd., 8.25%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 45 | 46585 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| 5.25%, 04/30/31 | &nbsp;&nbsp; 50 | 43935 |
| 5.25%, 07/15/31 | &nbsp;&nbsp; 53 | 46535 |
|  |  | 137055 |
| **Banks — 1.0%** | **Banks — 1.0%** | **Banks — 1.0%** |
| Dresdner Funding Trust I, 8.15%, 06/30/31<sup>(a)</sup> | &nbsp;&nbsp; 120 | 133474 |
| **Building Materials — 2.6%** | **Building Materials — 2.6%** | **Building Materials — 2.6%** |
| EMRLD Borrower LP/Emerald Co-Issuer Inc., 6.75%, <br> 07/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 42 | 42964 |
| Knife River Corp., 7.75%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 36 | 37733 |
| Smyrna Ready Mix Concrete LLC, 8.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 95 | 99839 |
| Standard Industries Inc./New York, 3.38%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 95 | 82490 |
| Summit Materials LLC/Summit Materials Finance Corp., <br> 7.25%, 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 70 | 72775 |
|  |  | 335801 |
| **Chemicals — 2.3%** | **Chemicals — 2.3%** | **Chemicals — 2.3%** |
| Ashland Inc., 3.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 34708 |
| Avient Corp., 6.25%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp; 58 | 58280 |
| Axalta Coating Systems Dutch Holding B BV, 7.25%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 45 | 47097 |
| Consolidated Energy Finance SA, 12.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 50 | 48771 |
| Olympus Water U.S. Holding Corp., 7.25%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 70 | 71822 |
| WR Grace Holdings LLC, 7.38%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 30 | 30967 |
|  |  | 291645 |
| **Commercial Services — 8.5%** | **Commercial Services — 8.5%** | **Commercial Services — 8.5%** |
| Allied Universal Holdco LLC, 7.88%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 198 | 201566 |
| Avis Budget Car Rental LLC/Avis Budget Finance Inc., <br> 8.00%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 45 | 45981 |
| Block Inc., 3.50%, 06/01/31<sup>(b)</sup> | &nbsp;&nbsp; 89 | 78995 |
| Boost Newco Borrower LLC, 7.50%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 195 | 205618 |
| GEO Group Inc. (The), 10.25%, 04/15/31 | &nbsp;&nbsp; 55 | 58959 |
| Raven Acquisition Holdings LLC, 6.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 45 | 44904 |
| RRD Parent Inc., 10.00%, 10/15/31, (10.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 102 | 180050 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Service Corp. International/U.S., 4.00%, 05/15/31 | &nbsp;&nbsp; $71 | $64037 |
| TriNet Group Inc., 7.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 40941 |
| United Rentals North America Inc., 3.88%, 02/15/31 | &nbsp;&nbsp; 95 | 86213 |
| Valvoline Inc., 3.63%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 48 | 41616 |
| Williams Scotsman Inc., 7.38%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 45 | 46613 |
|  |  | 1095493 |
| **Computers — 1.0%** | **Computers — 1.0%** | **Computers — 1.0%** |
| Fortress Intermediate 3 Inc., 7.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 65 | 67595 |
| Seagate HDD Cayman |  |  |
| 4.13%, 01/15/31 | &nbsp;&nbsp; 20 | 17988 |
| 8.50%, 07/15/31 | &nbsp;&nbsp; 42 | 45255 |
|  |  | 130838 |
| **Cosmetics & Personal Care — 0.4%** | **Cosmetics & Personal Care — 0.4%** | **Cosmetics & Personal Care — 0.4%** |
| Prestige Brands Inc., 3.75%, 04/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 51 | 45621 |
| **Distribution & Wholesale — 0.6%** | **Distribution & Wholesale — 0.6%** | **Distribution & Wholesale — 0.6%** |
| Ritchie Bros Holdings Inc., 7.75%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 70 | 73855 |
| **Diversified Financial Services — 6.7%** | **Diversified Financial Services — 6.7%** | **Diversified Financial Services — 6.7%** |
| Burford Capital Global Finance LLC, 9.25%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 60 | 64412 |
| Coinbase Global Inc., 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 65 | 54199 |
| Focus Financial Partners LLC, 6.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 89 | 88427 |
| Freedom Mortgage Holdings LLC, 9.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 64 | 65173 |
| Jane Street Group/JSG Finance Inc., 7.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; 118 | 122316 |
| Nationstar Mortgage Holdings Inc., 5.75%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 55 | 52666 |
| Navient Corp., 11.50%, 03/15/31 | &nbsp;&nbsp; 44 | 49407 |
| OneMain Finance Corp. |  |  |
| 7.13%, 11/15/31 | &nbsp;&nbsp; 65 | 65698 |
| 7.50%, 05/15/31 | &nbsp;&nbsp; 67 | 68509 |
| PennyMac Financial Services Inc., 5.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 44 | 42086 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., <br> 3.88%, 03/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 105 | 93454 |
| StoneX Group Inc., 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 49 | 51577 |
| VFH Parent LLC / Valor Co-Issuer Inc., 7.50%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 42 | 43194 |
|  |  | 861118 |
| **Electric — 3.6%** | **Electric — 3.6%** | **Electric — 3.6%** |
| Calpine Corp. |  |  |
| 3.75%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 80 | 72083 |
| 5.00%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 72 | 67950 |
| Clearway Energy Operating LLC, 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 80 | 71493 |
| NRG Energy Inc., 3.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 92 | 81482 |
| Pike Corp., 8.63%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; 36 | 38357 |
| Vistra Operations Co. LLC, 7.75%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 122 | 128889 |
|  |  | 460254 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| Atkore Inc., 4.25%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 35949 |
| Sensata Technologies Inc., 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 67 | 59833 |
|  |  | 95782 |
| **Engineering & Construction — 0.4%** | **Engineering & Construction — 0.4%** | **Engineering & Construction — 0.4%** |
| Artera Services LLC, 8.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 53 | 52532 |
| **Entertainment — 3.1%** | **Entertainment — 3.1%** | **Entertainment — 3.1%** |
| Churchill Downs Inc., 6.75%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 55 | 55982 |
| Light & Wonder International Inc., 7.50%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 49 | 50652 |
| Merlin Entertainments Group U.S. Holdings Inc., 7.38%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 45 | 44148 |
| Premier Entertainment Sub LLC/Premier Entertainment <br> Finance Corp., 5.88%, 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 65 | 42127 |
| Resorts World Las Vegas LLC/RWLV Capital Inc., <br> 4.63%, 04/06/31<sup>(a)</sup><br>| &nbsp;&nbsp; 40 | 33906 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2031 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Six Flags Entertainment Corp./DE, 7.25%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $71 | $72770 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., <br> 7.13%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 89 | 93595 |
|  |  | 393180 |
| **Environmental Control — 1.0%** | **Environmental Control — 1.0%** | **Environmental Control — 1.0%** |
| Clean Harbors Inc., 6.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 42 | 42249 |
| GFL Environmental Inc., 6.75%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 85 | 87516 |
|  |  | 129765 |
| **Food — 2.0%** | **Food — 2.0%** | **Food — 2.0%** |
| Fiesta Purchaser Inc., 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 45 | 47257 |
| Ingles Markets Inc., 4.00%, 06/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 31 | 27668 |
| Post Holdings Inc., 4.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 93 | 84694 |
| Safeway Inc., 7.25%, 02/01/31 | &nbsp;&nbsp; 20 | 20388 |
| Viking Baked Goods Acquisition Corp., 8.63%, <br> 11/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 76 | 75742 |
|  |  | 255749 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| Glatfelter Corp., 7.25%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 25 | 24788 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| South Jersey Industries Inc., 5.02%, 04/15/31 | &nbsp;&nbsp; 25 | 20632 |
| **Health Care - Products — 0.5%** | **Health Care - Products — 0.5%** | **Health Care - Products — 0.5%** |
| Sotera Health Holdings LLC, 7.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 67 | 68544 |
| **Health Care - Services — 3.7%** | **Health Care - Services — 3.7%** | **Health Care - Services — 3.7%** |
| Charles River Laboratories International Inc., 4.00%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 42 | 37575 |
| CHS/Community Health Systems Inc., 4.75%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 94 | 78438 |
| DaVita Inc., 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 134 | 116605 |
| Encompass Health Corp., 4.63%, 04/01/31 | &nbsp;&nbsp; 40 | 37647 |
| HAH Group Holding Co. LLC, 9.75%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 60 | 61144 |
| Tenet Healthcare Corp. |  |  |
| 6.75%, 05/15/31 | &nbsp;&nbsp; 114 | 116539 |
| 6.88%, 11/15/31 | &nbsp;&nbsp; 30 | 32160 |
|  |  | 480108 |
| **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** |
| Stena International SA |  |  |
| 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 65 | 67595 |
| 7.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 41792 |
|  |  | 109387 |
| **Home Builders — 0.5%** | **Home Builders — 0.5%** | **Home Builders — 0.5%** |
| Beazer Homes USA Inc., 7.50%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 27 | 27784 |
| KB Home, 4.00%, 06/15/31 | &nbsp;&nbsp; 40 | 36009 |
|  |  | 63793 |
| **Home Furnishings — 0.5%** | **Home Furnishings — 0.5%** | **Home Furnishings — 0.5%** |
| Tempur Sealy International Inc., 3.88%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 71 | 61815 |
| **Household Products & Wares — 0.6%** | **Household Products & Wares — 0.6%** | **Household Products & Wares — 0.6%** |
| Central Garden & Pet Co., 4.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; 36 | 32229 |
| Kronos Acquisition Holdings Inc., 8.25%, 06/30/31<sup>(a)</sup> | &nbsp;&nbsp; 49 | 48483 |
|  |  | 80712 |
| **Housewares — 0.3%** | **Housewares — 0.3%** | **Housewares — 0.3%** |
| Scotts Miracle-Gro Co. (The), 4.00%, 04/01/31 | &nbsp;&nbsp; 40 | 35774 |
| **Insurance — 5.6%** | **Insurance — 5.6%** | **Insurance — 5.6%** |
| Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer<br>|  |  |
| 6.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 89 | 88302 |
| 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 122 | 122898 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Ardonagh Finco Ltd., 7.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; $80 | $82044 |
| Baldwin Insurance Group Holdings LLC/Baldwin <br> Insurance Group Holdings Finance, 7.13%, <br> 05/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 53 | 54188 |
| Constellation Insurance Inc., 6.63%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19595 |
| Howden U.K. Refinance PLC/Howden U.K. Refinance 2 <br> PLC/Howden U.S. Refinance LLC, 7.25%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 85 | 86756 |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 253 | 258407 |
|  |  | 712190 |
| **Internet — 0.3%** | **Internet — 0.3%** | **Internet — 0.3%** |
| Match Group Holdings II LLC, 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 42 | 36788 |
| **Iron & Steel — 0.6%** | **Iron & Steel — 0.6%** | **Iron & Steel — 0.6%** |
| ATI Inc., 5.13%, 10/01/31 | &nbsp;&nbsp; 30 | 28265 |
| Cleveland-Cliffs Inc., 4.88%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 25 | 23058 |
| Commercial Metals Co., 3.88%, 02/15/31 | &nbsp;&nbsp; 27 | 24210 |
|  |  | 75533 |
| **Leisure Time — 2.2%** | **Leisure Time — 2.2%** | **Leisure Time — 2.2%** |
| Amer Sports Co., 6.75%, 02/16/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 70 | 71097 |
| Life Time Inc., 6.00%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 10 | 9951 |
| Royal Caribbean Cruises Ltd., 5.63%, 09/30/31<sup>(a)</sup> | &nbsp;&nbsp; 133 | 132568 |
| Viking Cruises Ltd., 9.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 62 | 66988 |
|  |  | 280604 |
| **Lodging — 2.2%** | **Lodging — 2.2%** | **Lodging — 2.2%** |
| Boyd Gaming Corp., 4.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 80 | 74655 |
| Hilton Domestic Operating Co. Inc., 4.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 98 | 89303 |
| Hilton Grand Vacations Borrower Escrow LLC/Hilton <br> Grand Vacations Borrower Esc, 4.88%, 07/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 44 | 39317 |
| MGM China Holdings Ltd., 7.13%, 06/26/31<sup>(a)</sup> | &nbsp;&nbsp; 45 | 45733 |
| Station Casinos LLC, 4.63%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 36344 |
|  |  | 285352 |
| **Machinery — 0.6%** | **Machinery — 0.6%** | **Machinery — 0.6%** |
| Chart Industries Inc., 9.50%, 01/01/31<sup>(a)</sup> | &nbsp;&nbsp; 45 | 48315 |
| Manitowoc Co. Inc. (The), 9.25%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 25 | 25404 |
|  |  | 73719 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| Hillenbrand Inc., 3.75%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 31 | 27126 |
| **Media — 6.1%** | **Media — 6.1%** | **Media — 6.1%** |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| 4.25%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 258 | 223896 |
| 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 93 | 94557 |
| CSC Holdings LLC |  |  |
| 3.38%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 90 | 64564 |
| 4.50%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 130 | 95436 |
| McGraw-Hill Education Inc., 7.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; 55 | 56368 |
| Sirius XM Radio Inc., 3.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 134 | 115274 |
| Sunrise FinCo I BV, 4.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 95 | 86940 |
| Univision Communications Inc., 8.50%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp; 44 | 43245 |
|  |  | 780280 |
| **Mining — 2.6%** | **Mining — 2.6%** | **Mining — 2.6%** |
| Alcoa Nederland Holding BV, 7.13%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 65 | 67792 |
| Arsenal AIC Parent LLC, 11.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 44 | 49006 |
| FMG Resources August 2006 Pty. Ltd., 4.38%, <br> 04/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 127 | 115547 |
| Kaiser Aluminum Corp., 4.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 50 | 44600 |
| Novelis Corp., 3.88%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 65 | 57125 |
|  |  | 334070 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2031 Term High Yield and Income ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas — 5.3%** | **Oil & Gas — 5.3%** | **Oil & Gas — 5.3%** |
| Civitas Resources Inc., 8.75%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; $120 | $125726 |
| CNX Resources Corp., 7.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 45 | 46302 |
| Encino Acquisition Partners Holdings LLC, 8.75%, <br> 05/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 44 | 45221 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, <br> 02/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 50 | 47296 |
| Moss Creek Resources Holdings Inc., 8.25%, <br> 09/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 67 | 65713 |
| Nabors Industries Inc., 8.88%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 49 | 46427 |
| Northern Oil & Gas Inc., 8.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 45 | 46566 |
| Permian Resources Operating LLC, 9.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 42 | 46383 |
| Talos Production Inc., 9.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 55 | 56631 |
| Transocean Inc. |  |  |
| 7.50%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp; 35 | 32587 |
| 8.50%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 80 | 80591 |
| Viper Energy Inc., 7.38%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp; 34 | 35369 |
|  |  | 674812 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| Star Holding LLC, 8.75%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp; 31 | 29478 |
| **Packaging & Containers — 1.9%** | **Packaging & Containers — 1.9%** | **Packaging & Containers — 1.9%** |
| Ball Corp., 3.13%, 09/15/31 | &nbsp;&nbsp; 75 | 64845 |
| LABL Inc., 8.63%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 80 | 77108 |
| Owens-Brockway Glass Container Inc., 7.25%, <br> 05/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 61 | 60078 |
| Sealed Air Corp./Sealed Air Corp. U.S., 7.25%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 40 | 41520 |
|  |  | 243551 |
| **Pharmaceuticals — 1.9%** | **Pharmaceuticals — 1.9%** | **Pharmaceuticals — 1.9%** |
| Endo Finance Holdings Inc., 8.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 90 | 96254 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, <br> 5.13%, 04/30/31<sup>(a)</sup><br>| &nbsp;&nbsp; 160 | 145889 |
|  |  | 242143 |
| **Pipelines — 4.8%** | **Pipelines — 4.8%** | **Pipelines — 4.8%** |
| CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 120 | 114149 |
| DT Midstream Inc., 4.38%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 85 | 78217 |
| EQM Midstream Partners LP, 4.75%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 98 | 93110 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp., 6.00%, 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 40 | 37111 |
| Venture Global Calcasieu Pass LLC, 4.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 105 | 95592 |
| Venture Global LNG Inc., 8.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 190 | 197209 |
|  |  | 615388 |
| **Real Estate — 1.0%** | **Real Estate — 1.0%** | **Real Estate — 1.0%** |
| Cushman & Wakefield U.S. Borrower LLC, 8.88%, <br> 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 33 | 35542 |
| Howard Hughes Corp. (The), 4.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 55 | 49282 |
| Kennedy-Wilson Inc., 5.00%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 53 | 46790 |
|  |  | 131614 |
| **Real Estate Investment Trusts — 2.9%** | **Real Estate Investment Trusts — 2.9%** | **Real Estate Investment Trusts — 2.9%** |
| Diversified Healthcare Trust, 4.38%, 03/01/31 | &nbsp;&nbsp; 44 | 35582 |
| Iron Mountain Inc., 4.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 95 | 88228 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp., 7.00%, 07/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 42 | 43623 |
| MPT Operating Partnership LP/MPT Finance Corp., <br> 3.50%, 03/15/31<br>| &nbsp;&nbsp; 116 | 82088 |
| Service Properties Trust, 8.63%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 90 | 95026 |
| Vornado Realty LP, 3.40%, 06/01/31 | &nbsp;&nbsp; 30 | 25550 |
|  |  | 370097 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail — 5.1%** | **Retail — 5.1%** | **Retail — 5.1%** |
| Carvana Co., 14.00%, 06/01/31, (14.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; $167 | $199681 |
| Gap Inc. (The), 3.88%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 67 | 57583 |
| Kohl's Corp., 4.63%, 05/01/31 | &nbsp;&nbsp; 44 | 36398 |
| LCM Investments Holdings II LLC, 8.25%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp; 72 | 75290 |
| Lithia Motors Inc., 4.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 49 | 44836 |
| Murphy Oil USA Inc., 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 41 | 36391 |
| Nordstrom Inc., 4.25%, 08/01/31 | &nbsp;&nbsp; 40 | 35248 |
| Sonic Automotive Inc., 4.88%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 40 | 35911 |
| Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.00%, 06/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 55 | 50489 |
| Yum! Brands Inc., 3.63%, 03/15/31 | &nbsp;&nbsp; 93 | 84237 |
|  |  | 656064 |
| **Software — 2.3%** | **Software — 2.3%** | **Software — 2.3%** |
| Open Text Holdings Inc., 4.13%, 12/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 55 | 49425 |
| Twilio Inc., 3.88%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 40 | 36103 |
| UKG Inc., 6.88%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 211 | 216189 |
|  |  | 301717 |
| **Telecommunications — 3.5%** | **Telecommunications — 3.5%** | **Telecommunications — 3.5%** |
| Frontier Communications Holdings LLC, 8.63%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 65 | 69794 |
| Iliad Holding SASU, 8.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 80 | 85550 |
| Level 3 Financing Inc., 4.00%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 30262 |
| Viasat Inc., 7.50%, 05/30/31<sup>(a)</sup> | &nbsp;&nbsp; 65 | 42681 |
| Vmed O2 U.K. Financing I PLC |  |  |
| 4.25%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; 125 | 107513 |
| 4.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 125 | 108252 |
| Windstream Services LLC/Windstream Escrow Finance <br> Corp., 8.25%, 10/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 10 | 10124 |
|  |  | 454176 |
| **Transportation — 0.8%** | **Transportation — 0.8%** | **Transportation — 0.8%** |
| GN Bondco LLC, 9.50%, 10/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 64 | 67979 |
| XPO Inc., 7.13%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 40 | 41378 |
|  |  | 109357 |
| **Trucking & Leasing — 0.5%** | **Trucking & Leasing — 0.5%** | **Trucking & Leasing — 0.5%** |
| Fortress Transportation and Infrastructure Investors LLC, <br> 7.00%, 05/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 60 | 61744 |
| **Total Long-Term Investments — 98.7%** <br>**(Cost: $12,539,489)** | **Total Long-Term Investments — 98.7%** <br>**(Cost: $12,539,489)** | 12659203 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 9.4%** | **Money Market Funds — 9.4%** | **Money Market Funds — 9.4%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 5.01%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 1186322 | 1187152 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 20000 | 20000 |
| **Total Short-Term Securities — 9.4%** <br>**(Cost: $1,207,065)** | **Total Short-Term Securities — 9.4%** <br>**(Cost: $1,207,065)** | 1207152 |
| **Total Investments — 108.1%** <br>**(Cost: $13,746,554)** | **Total Investments — 108.1%** <br>**(Cost: $13,746,554)** | 13866355 |
| **Liabilities in Excess of Other Assets — (8.1)%** | **Liabilities in Excess of Other Assets — (8.1)%** | (1042289)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $12824066 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® 2031 Term High Yield and Income ETF**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(d)</sup> Affiliate of the Fund. <br> <sup>(e)</sup> Annualized 7-day yield as of period end. <br> <sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*05/22/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $—<br> &nbsp;&nbsp; $1187128 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $(63)<br>| $87 | $1187152 | 1186322 | $1498 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | —<br> &nbsp;&nbsp; 20000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — |  |  | 20000 | 20000 | 702 | &nbsp;&nbsp; — |
|  |  |  | $(63)<br>| $87 | $1207152 |  | $2200 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12659203 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12659203 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1207152 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1207152 |
|  | &nbsp;&nbsp; $1207152 | &nbsp;&nbsp; $12659203 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13866355 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds 2024 <br> Term High <br> Yield and <br> Income ETF <br>| &nbsp;&nbsp; iShares <br>iBonds 2025 <br> Term High <br> Yield and <br> Income ETF <br>| &nbsp;&nbsp; iShares <br>iBonds 2026 <br> Term High <br> Yield and <br> Income ETF <br>| &nbsp;&nbsp; iShares <br>iBonds 2027 <br> Term High <br> Yield and <br> Income ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $118044798 | $584803324 | $534488750 | $168662987 |
| Investments, at value—affiliated<sup>(c)</sup> | 226586126 | 59584512 | 54100381 | 25197097 |
| Cash | 23828 | 9899 | 11347 | 376447 |
| Foreign currency, at value<sup>(d)</sup> | 459 | 821 | 64 |  |
| Receivables: |  |  |  |  |
| Investments sold |  |  | 4164143 | 348717 |
| Securities lending income—affiliated | 3548 | 7004 | 21365 | 10310 |
| Capital shares sold |  |  | 317829 | 380 |
| Dividends—affiliated | 776231 | 81842 | 82352 | 9511 |
| Interest—unaffiliated | 2054081 | 8157593 | 8042174 | 2869706 |
| Total assets | 347489071 | 652644995 | 601228405 | 197475155 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value | 8745430 | 44248202 | 45424801 | 20992763 |
| Payables: |  |  |  |  |
| Investments purchased |  | 6604515 | 220291 | 2982343 |
| Capital shares redeemed | 1625474 |  |  |  |
| Investment advisory fees | 89154 | 172376 | 153337 | 49539 |
| Due to custodian | 303442 |  |  |  |
| Total liabilities | 10763500 | 51025093 | 45798429 | 24024645 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $336725571 | $601619902 | $555429976 | $173450510 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $333702948 | $598914223 | $548302821 | $171514051 |
| Accumulated earnings | 3022623 | 2705679 | 7127155 | 1936459 |
| NET ASSETS | $336725571 | $601619902 | $555429976 | $173450510 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 14450000 | 25900000 | 23900000 | 7750000 |
| Net asset value | $23.30 | $23.23 | $23.24 | $22.38 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $118493958 | $582352830 | $530548956 | $165929691 |
| <sup>(b)</sup> Securities loaned, at value | $8395931 | $42788026 | $43671279 | $20219657 |
| <sup>(c)</sup> Investments, at cost—affiliated | $226577882 | $59569117 | $54087869 | $25190485 |
| <sup>(d)</sup> Foreign currency, at cost | $458 | $823 | $63 | $— |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Assets and Liabilities (continued)

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds 2031 <br> Term High <br> Yield and <br> Income ETF <br>|
| **ASSETS** |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $12659203 |
| Investments, at value—affiliated<sup>(c)</sup> | 1207152 |
| Cash | 649 |
| Receivables: |  |
| Investments sold | 245767 |
| Securities lending income—affiliated | 644 |
| Dividends—affiliated | 132 |
| Interest—unaffiliated | 213555 |
| Total assets | 14327102 |
| **LIABILITIES** |  |
| Collateral on securities loaned, at value | 1187128 |
| Payables: |  |
| Investments purchased | 312088 |
| Investment advisory fees | 3820 |
| Total liabilities | 1503036 |
| **Commitments and contingent liabilities** |  |
| NET ASSETS | $12824066 |
| **NET ASSETS CONSIST OF** |  |
| Paid-in capital | $12627366 |
| Accumulated earnings | 196700 |
| NET ASSETS | $12824066 |
| **NET ASSET VALUE** |  |
| Shares outstanding | 500000 |
| Net asset value | $25.65 |
| Shares authorized | Unlimited |
| Par value |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $12539489 |
| <sup>(b)</sup> Securities loaned, at value | $1141776 |
| <sup>(c)</sup> Investments, at cost—affiliated | $1207065 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds 2024 <br> Term High <br> Yield and <br> Income ETF <br>| &nbsp;&nbsp; iShares <br>iBonds 2025 <br> Term High <br> Yield and <br> Income ETF <br>| &nbsp;&nbsp; iShares <br>iBonds 2026 <br> Term High <br> Yield and <br> Income ETF <br>| &nbsp;&nbsp; iShares <br>iBonds 2027 <br> Term High <br> Yield and <br> Income ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $3038486 | &nbsp;&nbsp;&nbsp; $1184545 | &nbsp;&nbsp;&nbsp; $515493 | &nbsp;&nbsp;&nbsp; $56213 |
| Interest—unaffiliated | &nbsp;&nbsp; 25786792 | &nbsp;&nbsp;&nbsp; 34308840 | &nbsp;&nbsp;&nbsp; 27739562 | &nbsp;&nbsp;&nbsp; 8243857 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 187016 | &nbsp;&nbsp;&nbsp; 225443 | &nbsp;&nbsp;&nbsp; 264918 | &nbsp;&nbsp;&nbsp; 66013 |
| Other income—unaffiliated | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3636 | &nbsp;&nbsp;&nbsp; 22040 | &nbsp;&nbsp;&nbsp; 23413 |
| Total investment income | &nbsp;&nbsp; 29012294 | &nbsp;&nbsp;&nbsp; 35722464 | &nbsp;&nbsp;&nbsp; 28542013 | &nbsp;&nbsp;&nbsp; 8389496 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 1538501 | &nbsp;&nbsp;&nbsp; 1656814 | &nbsp;&nbsp;&nbsp; 1264232 | &nbsp;&nbsp;&nbsp; 385788 |
| Litigation fees | &nbsp;&nbsp; 11447 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1916 | &nbsp;&nbsp;&nbsp; — |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 1549948 | &nbsp;&nbsp;&nbsp; 1656814 | &nbsp;&nbsp;&nbsp; 1266208 | &nbsp;&nbsp;&nbsp; 385788 |
| Less: |  |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; (52776)<br>| &nbsp;&nbsp;&nbsp; (20338)<br>| &nbsp;&nbsp;&nbsp; (8912)<br>| &nbsp;&nbsp;&nbsp; (964)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 1497172 | &nbsp;&nbsp;&nbsp; 1636476 | &nbsp;&nbsp;&nbsp; 1257296 | &nbsp;&nbsp;&nbsp; 384824 |
| Net investment income | &nbsp;&nbsp; 27515122 | &nbsp;&nbsp;&nbsp; 34085988 | &nbsp;&nbsp;&nbsp; 27284717 | &nbsp;&nbsp;&nbsp; 8004672 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 2447211 | &nbsp;&nbsp;&nbsp; 355664 | &nbsp;&nbsp;&nbsp; 1884756 | &nbsp;&nbsp;&nbsp; (559989)<br>|
| Investments—affiliated | &nbsp;&nbsp; 10208 | &nbsp;&nbsp;&nbsp; 7178 | &nbsp;&nbsp;&nbsp; 7268 | &nbsp;&nbsp;&nbsp; (1227)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 255292 | &nbsp;&nbsp;&nbsp; 331137 | &nbsp;&nbsp;&nbsp; 1766800 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 2712711 | &nbsp;&nbsp;&nbsp; 693979 | &nbsp;&nbsp;&nbsp; 3658824 | &nbsp;&nbsp;&nbsp; (561216)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 3064822 | &nbsp;&nbsp;&nbsp; 7010181 | &nbsp;&nbsp;&nbsp; 7400816 | &nbsp;&nbsp;&nbsp; 4709318 |
| Investments—affiliated | &nbsp;&nbsp; (3256)<br>| &nbsp;&nbsp;&nbsp; 6420 | &nbsp;&nbsp;&nbsp; 7334 | &nbsp;&nbsp;&nbsp; 4713 |
| Foreign currency translations | &nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 3061579 | &nbsp;&nbsp;&nbsp; 7016601 | &nbsp;&nbsp;&nbsp; 7408151 | &nbsp;&nbsp;&nbsp; 4714031 |
| Net realized and unrealized gain | &nbsp;&nbsp; 5774290 | &nbsp;&nbsp;&nbsp; 7710580 | &nbsp;&nbsp;&nbsp; 11066975 | &nbsp;&nbsp;&nbsp; 4152815 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $33289412 | &nbsp;&nbsp;&nbsp; $41796568 | &nbsp;&nbsp;&nbsp; $38351692 | &nbsp;&nbsp;&nbsp; $12157487 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Operations (continued)

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>iBonds <br> 2031 Term <br> High Yield <br> and <br> Income <br> ETF<sup>(a)</sup> <br>|
| **INVESTMENT INCOME** |  |
| Dividends—affiliated | &nbsp;&nbsp; $702 |
| Interest—unaffiliated | &nbsp;&nbsp; 333209 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 1498 |
| Total investment income | &nbsp;&nbsp; 335409 |
| EXPENSES |  |
| Investment advisory | &nbsp;&nbsp; 16958 |
| Total expenses | &nbsp;&nbsp; 16958 |
| Less: |  |
| Investment advisory fees waived | &nbsp;&nbsp; (18)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 16940 |
| Net investment income | &nbsp;&nbsp; 318469 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| Net realized gain (loss) from: |  |
| Investments—unaffiliated | &nbsp;&nbsp; 4119 |
| Investments—affiliated | &nbsp;&nbsp; (63)<br>|
|  | &nbsp;&nbsp; 4056 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments—unaffiliated | &nbsp;&nbsp; 119714 |
| Investments—affiliated | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp; 119801 |
| Net realized and unrealized gain | &nbsp;&nbsp; 123857 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $442326 |
| <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds 2024 Term High Yield and <br> Income ETF  | iShares <br>iBonds 2024 Term High Yield and <br> Income ETF  | iShares <br>iBonds 2025 Term High Yield and <br> Income ETF  | iShares <br>iBonds 2025 Term High Yield and <br> Income ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $27515122 | &nbsp;&nbsp;&nbsp; $19627806 | &nbsp;&nbsp;&nbsp; $34085988 | &nbsp;&nbsp;&nbsp; $13050914 |
| Net realized gain (loss) | &nbsp;&nbsp; 2712711 | &nbsp;&nbsp;&nbsp; 1565315 | &nbsp;&nbsp;&nbsp; 693979 | &nbsp;&nbsp;&nbsp; (919817)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 3061579 | &nbsp;&nbsp;&nbsp; 654706 | &nbsp;&nbsp;&nbsp; 7016601 | &nbsp;&nbsp;&nbsp; (1078800)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 33289412 | &nbsp;&nbsp;&nbsp; 21847827 | &nbsp;&nbsp;&nbsp; 41796568 | &nbsp;&nbsp;&nbsp; 11052297 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (28349239)<br>| &nbsp;&nbsp;&nbsp; (17855421)<br>| &nbsp;&nbsp;&nbsp; (32984201)<br>| &nbsp;&nbsp;&nbsp; (11849520)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (75846246)<br>| &nbsp;&nbsp;&nbsp; 254602310 | &nbsp;&nbsp;&nbsp; 312389039 | &nbsp;&nbsp;&nbsp; 195746304 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (70906073)<br>| &nbsp;&nbsp;&nbsp; 258594716 | &nbsp;&nbsp;&nbsp; 321201406 | &nbsp;&nbsp;&nbsp; 194949081 |
| Beginning of year | &nbsp;&nbsp; 407631644 | &nbsp;&nbsp;&nbsp; 149036928 | &nbsp;&nbsp;&nbsp; 280418496 | &nbsp;&nbsp;&nbsp; 85469415 |
| End of year | &nbsp;&nbsp; $336725571 | &nbsp;&nbsp;&nbsp; $407631644 | &nbsp;&nbsp;&nbsp; $601619902 | &nbsp;&nbsp;&nbsp; $280418496 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds 2026 Term High Yield and <br> Income ETF  | iShares <br>iBonds 2026 Term High Yield and <br> Income ETF  | iShares <br>iBonds 2027 Term High Yield and <br> Income ETF  | iShares <br>iBonds 2027 Term High Yield and <br> Income ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $27284717 | &nbsp;&nbsp;&nbsp; $6443670 | &nbsp;&nbsp;&nbsp; $8004672 | &nbsp;&nbsp;&nbsp; $2076993 |
| Net realized gain (loss) | &nbsp;&nbsp; 3658824 | &nbsp;&nbsp;&nbsp; (1025640)<br>| &nbsp;&nbsp;&nbsp; (561216)<br>| &nbsp;&nbsp;&nbsp; (710452)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 7408151 | &nbsp;&nbsp;&nbsp; (1106424)<br>| &nbsp;&nbsp;&nbsp; 4714031 | &nbsp;&nbsp;&nbsp; (459570)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 38351692 | &nbsp;&nbsp;&nbsp; 4311606 | &nbsp;&nbsp;&nbsp; 12157487 | &nbsp;&nbsp;&nbsp; 906971 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (25191336)<br>| &nbsp;&nbsp;&nbsp; (5729403)<br>| &nbsp;&nbsp;&nbsp; (7374328)<br>| &nbsp;&nbsp;&nbsp; (1896130)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 397787233 | &nbsp;&nbsp;&nbsp; 110266175 | &nbsp;&nbsp;&nbsp; 115877478 | &nbsp;&nbsp;&nbsp; 38871572 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 410947589 | &nbsp;&nbsp;&nbsp; 108848378 | &nbsp;&nbsp;&nbsp; 120660637 | &nbsp;&nbsp;&nbsp; 37882413 |
| Beginning of year | &nbsp;&nbsp; 144482387 | &nbsp;&nbsp;&nbsp; 35634009 | &nbsp;&nbsp;&nbsp; 52789873 | &nbsp;&nbsp;&nbsp; 14907460 |
| End of year | &nbsp;&nbsp; $555429976 | &nbsp;&nbsp;&nbsp; $144482387 | &nbsp;&nbsp;&nbsp; $173450510 | &nbsp;&nbsp;&nbsp; $52789873 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>iBonds 2031 <br> Term High <br> Yield and <br> Income ETF <br>|
|  | Period From <br>05/22/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |
| **OPERATIONS** |  |
| Net investment income | &nbsp;&nbsp; $318469 |
| Net realized gain | &nbsp;&nbsp; 4056 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 119801 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 442326 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (245626)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 12627366 |
| *NET ASSETS* |  |
| Total increase in net assets | &nbsp;&nbsp; 12824066 |
| Beginning of period | &nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $12824066 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds 2024 Term High Yield and Income ETF  | iShares iBonds 2024 Term High Yield and Income ETF  | iShares iBonds 2024 Term High Yield and Income ETF  | iShares iBonds 2024 Term High Yield and Income ETF  | iShares iBonds 2024 Term High Yield and Income ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $23.03 | &nbsp;&nbsp;&nbsp; $22.58 | &nbsp;&nbsp;&nbsp; $24.63 | &nbsp;&nbsp;&nbsp; $23.38 | &nbsp;&nbsp;&nbsp; $25.21 |
| Net investment income<sup>(a)</sup> | 1.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 0.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp; (2.12)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp; (1.79)<br>|
| Net increase (decrease) from investment operations | 1.75 | &nbsp;&nbsp;&nbsp;&nbsp;2.00 | &nbsp;&nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.41 | &nbsp;&nbsp;&nbsp; (0.46)<br>|
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.48)<br>| &nbsp;&nbsp;&nbsp; (1.55)<br>| &nbsp;&nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp;&nbsp; (1.37)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $23.30 | &nbsp;&nbsp;&nbsp; $23.03 | &nbsp;&nbsp;&nbsp; $22.58 | &nbsp;&nbsp;&nbsp; $24.63 | &nbsp;&nbsp;&nbsp; $23.38 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 7.86<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9.10<br> %<br>| &nbsp;&nbsp;&nbsp; (4.21)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.42<br> %<br>| &nbsp;&nbsp;&nbsp; (1.72)%<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| Total expenses after fees waived | 0.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| Net investment income | 6.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.17<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.72<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.61<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $336726 | &nbsp;&nbsp;&nbsp; $407632 | &nbsp;&nbsp;&nbsp; $149037 | &nbsp;&nbsp;&nbsp; $51727 | &nbsp;&nbsp;&nbsp; $9354 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 41<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 44<br> %<br>| &nbsp;&nbsp;&nbsp; 42<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds 2025 Term High Yield and Income ETF  | iShares iBonds 2025 Term High Yield and Income ETF  | iShares iBonds 2025 Term High Yield and Income ETF  | iShares iBonds 2025 Term High Yield and Income ETF  | iShares iBonds 2025 Term High Yield and Income ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $22.61 | &nbsp;&nbsp;&nbsp; $22.49 | &nbsp;&nbsp;&nbsp; $24.89 | &nbsp;&nbsp;&nbsp; $24.07 | &nbsp;&nbsp;&nbsp; $25.13 |
| Net investment income<sup>(a)</sup> | 1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.37 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp; (2.43)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp; (0.99)<br>|
| Net increase (decrease) from investment operations | 2.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp; (1.17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.68)<br>| &nbsp;&nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp;&nbsp; (1.23)<br>| &nbsp;&nbsp;&nbsp; (1.27)<br>| &nbsp;&nbsp;&nbsp; (1.44)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $23.23 | &nbsp;&nbsp;&nbsp; $22.61 | &nbsp;&nbsp;&nbsp; $22.49 | &nbsp;&nbsp;&nbsp; $24.89 | &nbsp;&nbsp;&nbsp; $24.07 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 10.44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.82<br> %<br>| &nbsp;&nbsp;&nbsp; (4.77)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.77<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.71<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| Total expenses after fees waived | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| Net investment income | 7.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.58<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.73<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $601620 | &nbsp;&nbsp;&nbsp; $280418 | &nbsp;&nbsp;&nbsp; $85469 | &nbsp;&nbsp;&nbsp; $39819 | &nbsp;&nbsp;&nbsp; $16847 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 80<br> %<br>| &nbsp;&nbsp;&nbsp; 36<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 29<br> %<br>| &nbsp;&nbsp;&nbsp; 42<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares iBonds 2026 Term High Yield and Income ETF  | iShares iBonds 2026 Term High Yield and Income ETF  | iShares iBonds 2026 Term High Yield and Income ETF  | iShares iBonds 2026 Term High Yield and Income ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Period From <br>11/10/20<sup>(a)</sup> <br>to 10/31/21<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $22.23 | &nbsp;&nbsp;&nbsp; $22.27 | &nbsp;&nbsp;&nbsp; $25.40 | &nbsp;&nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 1.73 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 0.97 | &nbsp;&nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp;&nbsp; (3.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.37 |
| Net increase (decrease) from investment operations | 2.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp; (1.87)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.43 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.69)<br>| &nbsp;&nbsp;&nbsp; (1.62)<br>| &nbsp;&nbsp;&nbsp; (1.26)<br>| &nbsp;&nbsp;&nbsp; (1.03)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $23.24 | &nbsp;&nbsp;&nbsp; $22.23 | &nbsp;&nbsp;&nbsp; $22.27 | &nbsp;&nbsp;&nbsp; $25.40 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |
| Based on net asset value | 12.58<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.22<br> %<br>| &nbsp;&nbsp;&nbsp; (7.52)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.79 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |
| Total expenses | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35 %<sup>(h)</sup><br>|
| Net investment income | 7.55<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.68<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.46<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.26 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $555430 | &nbsp;&nbsp;&nbsp; $144482 | &nbsp;&nbsp;&nbsp; $35634 | &nbsp;&nbsp;&nbsp; $20321 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 53<br> %<br>| &nbsp;&nbsp;&nbsp; 15<br> %<br>| &nbsp;&nbsp;&nbsp; 15<br> %<br>| &nbsp;&nbsp;&nbsp; 35<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares iBonds 2027 Term High Yield and Income ETF  | iShares iBonds 2027 Term High Yield and Income ETF  | iShares iBonds 2027 Term High Yield and Income ETF  | iShares iBonds 2027 Term High Yield and Income ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Period From <br>07/07/21<sup>(a)</sup> <br>to 10/31/21<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $21.12 | &nbsp;&nbsp;&nbsp; $21.30 | &nbsp;&nbsp;&nbsp; $24.85 | &nbsp;&nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.25 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.22 | &nbsp;&nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (3.36)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>|
| Net increase (decrease) from investment operations | 2.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp; (2.35)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.56)<br>| &nbsp;&nbsp;&nbsp; (1.43)<br>| &nbsp;&nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $22.38 | &nbsp;&nbsp;&nbsp; $21.12 | &nbsp;&nbsp;&nbsp; $21.30 | &nbsp;&nbsp;&nbsp; $24.85 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |
| Based on net asset value | 13.78<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.94<br> %<br>| &nbsp;&nbsp;&nbsp; (9.71)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |
| Total expenses | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35 %<sup>(h)</sup><br>|
| Net investment income | 7.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.97<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.19 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $173451 | &nbsp;&nbsp;&nbsp; $52790 | &nbsp;&nbsp;&nbsp; $14907 | &nbsp;&nbsp;&nbsp; $12425 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 14<br> %<br>| &nbsp;&nbsp;&nbsp; 13<br> %<br>| &nbsp;&nbsp;&nbsp; 3<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> iBonds <br> 2031<br> Term <br> High <br> Yield and <br> Income <br> ETF <br>|
|  | Period <br> From <br>05/22/24<sup>(a)</sup> <br>to <br> 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 0.74 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.49 |
| Net increase from investment operations | 1.23 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.58)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.65 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 4.96 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.35 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.35 %<sup>(h)</sup><br>|
| Net investment income | 6.57 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $12824 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 16<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; Diversified |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; Diversified |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; Diversified |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; Diversified<sup>(a)</sup> <br>|
| iBonds 2031 Term High Yield and Income<sup>(b)</sup> | &nbsp;&nbsp; Non-diversified |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund's classification changed from non-diversified to diversified during the reporting period. <br> <sup>(b)</sup> The Fund commenced operations on May 22, 2024.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Interest income, including amortization and accretion of premiums and discounts on debt securities, and payment-in-kind interest are recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. SECURITIES AND OTHER INVESTMENTS***

**Zero-Coupon Bonds:** Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| iBonds 2024 Term High Yield and Income |  |  |  |  |
| BNP Paribas SA | &nbsp;&nbsp; $390757 | &nbsp;&nbsp;&nbsp; $(390757) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 2868416 | &nbsp;&nbsp;&nbsp; (2868416) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 4459516 | &nbsp;&nbsp;&nbsp; (4459516) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 187403 | &nbsp;&nbsp;&nbsp; (187403) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 489839 | &nbsp;&nbsp;&nbsp; (489839) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $8395931 | &nbsp;&nbsp;&nbsp; $(8395931) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds 2025 Term High Yield and Income |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $2340282 | &nbsp;&nbsp;&nbsp; $(2340282) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 2319678 | &nbsp;&nbsp;&nbsp; (2319678) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 2995716 | &nbsp;&nbsp;&nbsp; (2995716) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 159735 | &nbsp;&nbsp;&nbsp; (159735) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 5861914 | &nbsp;&nbsp;&nbsp; (5861914) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 13700545 | &nbsp;&nbsp;&nbsp; (13700545) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 5054184 | &nbsp;&nbsp;&nbsp; (5054184) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 3255944 | &nbsp;&nbsp;&nbsp; (3255944) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 184171 | &nbsp;&nbsp;&nbsp; (184171) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 17738 | &nbsp;&nbsp;&nbsp; (17738) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 2456193 | &nbsp;&nbsp;&nbsp; (2456193) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 2276620 | &nbsp;&nbsp;&nbsp; (2276620) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 58478 | &nbsp;&nbsp;&nbsp; (58478) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 2106828 | &nbsp;&nbsp;&nbsp; (2106828) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $42788026 | &nbsp;&nbsp;&nbsp; $(42788026) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| iBonds 2026 Term High Yield and Income |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $10839814 | &nbsp;&nbsp;&nbsp; $(10839814) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 717663 | &nbsp;&nbsp;&nbsp; (717663) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 2016 | &nbsp;&nbsp;&nbsp; (2016) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 5818413 | &nbsp;&nbsp;&nbsp; (5818413) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 447578 | &nbsp;&nbsp;&nbsp; (447578) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 3505583 | &nbsp;&nbsp;&nbsp; (3505583) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 9405872 | &nbsp;&nbsp;&nbsp; (9405872) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 142609 | &nbsp;&nbsp;&nbsp; (142609) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 8309229 | &nbsp;&nbsp;&nbsp; (8309229) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 505112 | &nbsp;&nbsp;&nbsp; (505112) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 1560067 | &nbsp;&nbsp;&nbsp; (1560067) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 824876 | &nbsp;&nbsp;&nbsp; (824876) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 1438772 | &nbsp;&nbsp;&nbsp; (1438772) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 153675 | &nbsp;&nbsp;&nbsp; (153675) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $43671279 | &nbsp;&nbsp;&nbsp; $(43671279) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds 2027 Term High Yield and Income |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $4569567 | &nbsp;&nbsp;&nbsp; $(4569567) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 236447 | &nbsp;&nbsp;&nbsp; (236447) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets | &nbsp;&nbsp; 200133 | &nbsp;&nbsp;&nbsp; (200133) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 1179445 | &nbsp;&nbsp;&nbsp; (1179445) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 6787557 | &nbsp;&nbsp;&nbsp; (6787557) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 1259705 | &nbsp;&nbsp;&nbsp; (1259705) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 60913 | &nbsp;&nbsp;&nbsp; (60913) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 841286 | &nbsp;&nbsp;&nbsp; (841286) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 1019681 | &nbsp;&nbsp;&nbsp; (1019681) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 644083 | &nbsp;&nbsp;&nbsp; (644083) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 996488 | &nbsp;&nbsp;&nbsp; (996488) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 244345 | &nbsp;&nbsp;&nbsp; (244345) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 889485 | &nbsp;&nbsp;&nbsp; (889485) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 1290522 | &nbsp;&nbsp;&nbsp; (1290522) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $20219657 | &nbsp;&nbsp;&nbsp; $(20219657) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds 2031 Term High Yield and Income |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $111808 | &nbsp;&nbsp;&nbsp; $(111808) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 653223 | &nbsp;&nbsp;&nbsp; (653223) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 103765 | &nbsp;&nbsp;&nbsp; (103765) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 34298 | &nbsp;&nbsp;&nbsp; (34298) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 162401 | &nbsp;&nbsp;&nbsp; (162401) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank, National Association | &nbsp;&nbsp; 21213 | &nbsp;&nbsp;&nbsp; (21213) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 55068 | &nbsp;&nbsp;&nbsp; (55068) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $1141776 | &nbsp;&nbsp;&nbsp; $(1141776) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each Fund, BFA is entitled to an annual investment advisory fee of 0.35%, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statements of Operations does not include acquired fund fees and expenses.

BFA has contractually agreed to waive a portion of its investment advisory fee for each Fund through the termination date of such Fund, in an amount equal to acquired fund fees and expenses, if any, attributable to each Fund's investments in other funds advised by BFA or its affiliates.

These amounts are included in investment advisory fees waived in the Statements of Operations. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $52776 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 20338 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 8912 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 964 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 18 |

---

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 26, 2024 (date of conversion for respective funds), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $46257 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 61893 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 71320 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 19025 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 406 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $14933169 | &nbsp;&nbsp;&nbsp; $230026062 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 307306097 | &nbsp;&nbsp;&nbsp; 439289140 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 184469031 | &nbsp;&nbsp;&nbsp; 196201011 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 18066819 | &nbsp;&nbsp;&nbsp; 18727512 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 11676427 | &nbsp;&nbsp;&nbsp; 1726435 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $98967510 | &nbsp;&nbsp;&nbsp; $127749396 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 322477368 | &nbsp;&nbsp;&nbsp; 14284459 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 438352727 | &nbsp;&nbsp;&nbsp; 46156486 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 113913071 | &nbsp;&nbsp;&nbsp; — |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 2556717 | &nbsp;&nbsp;&nbsp; — |

---

***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to certain deemed distributions and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $218341 | &nbsp;&nbsp;&nbsp; $(218341) |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 331137 | &nbsp;&nbsp;&nbsp; (331137) |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 1794532 | &nbsp;&nbsp;&nbsp; (1794532) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| iBonds 2024 Term High Yield and Income |  |  |
| Ordinary income | &nbsp;&nbsp; $28349239 | &nbsp;&nbsp;&nbsp; $17855421 |
| iBonds 2025 Term High Yield and Income |  |  |
| Ordinary income | &nbsp;&nbsp; $32984201 | &nbsp;&nbsp;&nbsp; $11849520 |
| iBonds 2026 Term High Yield and Income |  |  |
| Ordinary income | &nbsp;&nbsp; $25191336 | &nbsp;&nbsp;&nbsp; $5729403 |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended*<br> *10/31/24*<br>| &nbsp;&nbsp; *Year Ended*<br> *10/31/23*<br>|
| iBonds 2027 Term High Yield and Income |  |  |
| Ordinary income | &nbsp;&nbsp; $7374328 | &nbsp;&nbsp;&nbsp; $1896130 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *iShares ETF* | *Period Ended* <br>*10/31/24*<br>|
| iBonds 2031 Term High Yield and Income |  |
| Ordinary income | &nbsp;&nbsp; $245626 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Undistributed* <br>*Long-Term Capital Gains*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $2791724 | &nbsp;&nbsp;&nbsp; $779125 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(548226) | &nbsp;&nbsp;&nbsp; $3022623 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 3231234 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2756177) | &nbsp;&nbsp;&nbsp; 2230622 | &nbsp;&nbsp;&nbsp; 2705679 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 3291620 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3835535 | &nbsp;&nbsp;&nbsp; 7127155 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 992055 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1623633) | &nbsp;&nbsp;&nbsp; 2568037 | &nbsp;&nbsp;&nbsp; 1936459 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 79231 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 117469 | &nbsp;&nbsp;&nbsp; 196700 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and amortization methods for premiums and discounts on fixed income securities. 

For the year ended October 31, 2024, the Funds listed below utilized the following amounts of their respective capital loss carryforwards:

---

| | |
|:---|:---|
| *iShares ETF* | *Utilized*  |
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $305795 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 1589017 |

---

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $345179149 | &nbsp;&nbsp;&nbsp; $21615 | &nbsp;&nbsp;&nbsp; $(569840) | &nbsp;&nbsp;&nbsp; $(548225) |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 642157212 | &nbsp;&nbsp;&nbsp; 2571939 | &nbsp;&nbsp;&nbsp; (341315) | &nbsp;&nbsp;&nbsp; 2230624 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 584753597 | &nbsp;&nbsp;&nbsp; 5251774 | &nbsp;&nbsp;&nbsp; (1416240) | &nbsp;&nbsp;&nbsp; 3835534 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 191292047 | &nbsp;&nbsp;&nbsp; 2831918 | &nbsp;&nbsp;&nbsp; (263881) | &nbsp;&nbsp;&nbsp; 2568037 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 13748886 | &nbsp;&nbsp;&nbsp; 167932 | &nbsp;&nbsp;&nbsp; (50463) | &nbsp;&nbsp;&nbsp; 117469 |

---

***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

The Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as "junk bonds") or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| iBonds 2024 Term High Yield and Income |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp;&nbsp; $99528310 | &nbsp;&nbsp;&nbsp; 11500000 | &nbsp;&nbsp;&nbsp; $263758821 |
| Shares redeemed | &nbsp;&nbsp; (7550000)<br>| &nbsp;&nbsp;&nbsp; (175374556)<br>| &nbsp;&nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; (9156511)<br>|
|  | &nbsp;&nbsp; (3250000)<br>| &nbsp;&nbsp;&nbsp; $(75846246)<br>| &nbsp;&nbsp;&nbsp; 11100000 | &nbsp;&nbsp;&nbsp; $254602310 |
| iBonds 2025 Term High Yield and Income |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 14150000 | &nbsp;&nbsp;&nbsp; $327503572 | &nbsp;&nbsp;&nbsp; 8700000 | &nbsp;&nbsp;&nbsp; $198039859 |
| Shares redeemed | &nbsp;&nbsp; (650000)<br>| &nbsp;&nbsp;&nbsp; (15114533)<br>| &nbsp;&nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp;&nbsp; (2293555)<br>|
|  | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp;&nbsp; $312389039 | &nbsp;&nbsp;&nbsp; 8600000 | &nbsp;&nbsp;&nbsp; $195746304 |
| iBonds 2026 Term High Yield and Income |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 19500000 | &nbsp;&nbsp;&nbsp; $445911722 | &nbsp;&nbsp;&nbsp; 4900000 | &nbsp;&nbsp;&nbsp; $110266175 |
| Shares redeemed | &nbsp;&nbsp; (2100000)<br>| &nbsp;&nbsp;&nbsp; (48124489)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 17400000 | &nbsp;&nbsp;&nbsp; $397787233 | &nbsp;&nbsp;&nbsp; 4900000 | &nbsp;&nbsp;&nbsp; $110266175 |
| iBonds 2027 Term High Yield and Income |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp;&nbsp; $115877478 | &nbsp;&nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp; $38871572 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Period Ended <br>10/31/24<sup>(a)</sup>  | Period Ended <br>10/31/24<sup>(a)</sup>  |
| *iShares ETF* | *Shares* | *Amount* |
| iBonds 2031 Term High Yield and Income |  |  |
| Shares sold | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; $12627366 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on May 22, 2024.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management's evaluation of the impact of all subsequent events on the Funds' financial statements was completed through the date the financial statements were available to be issued and the following item was noted:

**Planned Fund Liquidation:** In accordance with its prospectus and its investment objective, the iShares iBonds 2024 Term High Yield and Income ETF ceased trading after the close of business on December 16, 2024, when all of the bonds included in the Fund's underlying index matured. Proceeds of the liquidation were sent to shareholders on December 19, 2024.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the five funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (five of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares iBonds 2024 Term High Yield and Income ETF<sup>(1)</sup> <br>|
| iShares iBonds 2025 Term High Yield and Income ETF<sup>(1)</sup> <br>|
| iShares iBonds 2026 Term High Yield and Income ETF<sup>(1)</sup> <br>|
| iShares iBonds 2027 Term High Yield and Income ETF<sup>(1)</sup> <br>|
| iShares iBonds 2031 Term High Yield and Income ETF<sup>(2)</sup> <br>|

---

<sup>(1)</sup> Statement of operations for the year ended October 31, 2024 and statement of changes in net assets for each of the two years in the period ended October 31, 2024

<sup>(2)</sup> Statement of operations and statement of changes in net assets for the period May 22, 2024 (commencement of operations) through October 31, 2024

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

------

Important Tax Information (unaudited)

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $436063 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 184207 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 77549 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 8187 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 117 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $27623566 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 34242645 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 27292070 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 7996002 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 323359 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| iBonds 2024 Term High Yield and Income | &nbsp;&nbsp; $20186237 |
| iBonds 2025 Term High Yield and Income | &nbsp;&nbsp; 27520599 |
| iBonds 2026 Term High Yield and Income | &nbsp;&nbsp; 22785511 |
| iBonds 2027 Term High Yield and Income | &nbsp;&nbsp; 6610910 |
| iBonds 2031 Term High Yield and Income | &nbsp;&nbsp; 281370 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares iBonds 2024 Term High Yield and Income ETF, iShares iBonds 2025 Term High Yield and Income ETF, iShares iBonds 2026 Term High Yield and Income ETF, iShares iBonds 2027 Term High Yield and Income ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates**: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates**: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares iBonds 2031 Term High Yield and Income ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required to consider the approval of the proposed Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the terms of the proposed Advisory Agreement. At a meeting held on March 4-5, 2024, the Board, including the Independent Board Members, approved the selection of BFA as investment adviser and approved the proposed Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA. The Board also considered information previously provided by BFA, BlackRock Institutional Trust Company, N.A. ("BTC"), and BlackRock, Inc. ("BlackRock"), as applicable, at prior Board meetings. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses of the Fund; (ii) the nature, extent and quality of the services to be provided by BFA; (iii) the costs of services to be provided to the Fund and the availability of information related to profits to be realized by BFA and its affiliates; (iv) potential economies of scale; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the Advisory Agreement are discussed below.

**Expenses of the Fund**: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances.

The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level of the Fund supported the Board's approval of the Advisory Agreement.

**Nature, Extent and Quality of Services to be Provided by BFA:** The Board reviewed the scope of services to be provided by BFA under the Advisory Agreement. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time and have made significant investments into the iShares business to support the iShares funds and their shareholders. The Board considered representations by BFA, BTC, and BlackRock that the scope and quality of services to be provided to the Fund would be similar to the scope and quality of services provided to other iShares funds. The Board also considered BFA's compliance program and its compliance record with respect to other iShares funds including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons who will be responsible for the day-to-day management of the Fund, as well as the resources that will be available to them in managing the Fund. The Board also considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies, which were provided throughout the year with respect to other iShares funds, and other matters related to BFA's portfolio compliance program and other compliance programs and services.

Based on review of this information, the Board concluded that the nature, extent and quality of services to be provided to the Fund under the Advisory Agreement supported the Board's approval of the Advisory Agreement.

**Costs of Services to be Provided to the Fund and Profits to be Realized by BFA and Affiliates:** The Board did not consider the profitability of the Fund to BFA based on the fees payable under the Advisory Agreement or revenue to be received by BFA or its affiliates in connection with services to be provided to the Fund since the proposed relationship had not yet commenced. The Board noted that it expects to receive profitability information from BFA periodically following the Fund's launch and will thus be in a position to evaluate whether any new or additional breakpoints or other adjustments in Fund fees would be appropriate.

**Economies of Scale:** The Board considered information that it had previously received regarding potential economies of scale, efficiencies and scale benefits shared with the iShares funds through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for any breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

This consideration of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the Advisory Agreement.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the "Other Accounts"). The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board further noted that BFA previously provided the Board with detailed information regarding how the Other Accounts (particularly institutional clients) generally differ from the iShares funds, including in terms of the different and generally more extensive services provided to the iShares funds, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement.

**Other Benefits to BFA and/or its Affiliates:** Except as noted below, the Board did not consider the "fallout" benefits or ancillary revenue to be received by BFA and/or its affiliates in connection with the services to be provided to the Fund by BFA since the proposed relationship had not yet commenced. However, the Board considered the potential payment of advisory fees and/or administration fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services and/or administration services. The Board further considered other direct benefits that might accrue to BFA, including the potential for reduction in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also noted the potential revenue to be received by BFA and/or its affiliates pursuant to an agreement that would permit a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board also considered the potential for revenue to BTC, the Fund's securities lending agent, and its affiliates in the event of any loaning of portfolio securities of the Fund. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that will be provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the Advisory Agreement.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including a majority of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services to be rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the Advisory Agreement.

2024 iShares Annual Financial Statements and Additional Information

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| NVS | Non-Voting Shares |
| PIK | Payment-in-kind |
| REIT | Real Estate Investment Trust |

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Glossary of Terms Used in this Report

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services, Limited, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

![](g938995imge32065fc1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **iShares Trust** |
| • iShares iBonds Oct 2034 Term TIPS ETF \| IBIK \| NYSE Arca |

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**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | Page |
| [Schedule of Investments](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statement of Assets and Liabilities](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 4 |
| [Statement of Operations](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 5 |
| [Statement of Changes in Net Assets](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 6 |
| [Financial Highlights](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 7 |
| [Notes to Financial Statements](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_NTFS-Footer-iSharesReport-1303_1)  | &nbsp;&nbsp; 8 |
| [Report of Independent Registered Public Accounting Firm](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_opinion-Footer-iSharesReport-1303_1)  | &nbsp;&nbsp; 13 |
| [Important Tax Information](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_Tax-annual-Footer-iSharesReport-1303_1)  | &nbsp;&nbsp; 14 |
| [Additional Information](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_SAI-Footer-iSharesReport-1303_1)  | &nbsp;&nbsp; 15 |
| [Board Review and Approval of Investment Advisory Contract](#xx_4968eb37-a8c5-4463-b9aa-fb29709b996c_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 16 |

---

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Oct 2034 Term TIPS ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations** | **U.S. Government Obligations** | **U.S. Government Obligations** |
| **U.S. Government Obligations — 99.4%** | **U.S. Government Obligations — 99.4%** | **U.S. Government Obligations — 99.4%** |
| U.S. Treasury Inflation Indexed Bonds |  |  |
| 1.75%, 01/15/34 | &nbsp;&nbsp; $5236 | $5137010 |
| 1.88%, 07/15/34 | &nbsp;&nbsp; 3712 | 3685317 |
|  |  | 8822327 |
| **Total Investments — 99.4%** <br>**(Cost: $8,876,013)** | **Total Investments — 99.4%** <br>**(Cost: $8,876,013)** | 8822327 |
| **Other Assets Less Liabilities — 0.6%** | **Other Assets Less Liabilities — 0.6%** | 49880 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $8872207 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*05/22/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(b)</sup> | $—<br> &nbsp;&nbsp; $0 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $— |  | $120 | $— |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> As of period end, the entity is no longer held.

<sup>(c)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| U.S. Government Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $8822327 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $8822327 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statement of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds Oct <br> 2034 Term <br> TIPS ETF <br>|
| **ASSETS** |  |
| Investments, at value—unaffiliated<sup>(a)</sup> | $8822327 |
| Cash | 2686 |
| Receivables: |  |
| Dividends—affiliated | 16 |
| Interest—unaffiliated | 47756 |
| Total assets | 8872785 |
| **LIABILITIES** |  |
| Payables: |  |
| Investment advisory fees | 578 |
| Total liabilities | 578 |
| **Commitments and contingent liabilities** |  |
| NET ASSETS | $8872207 |
| **NET ASSETS CONSIST OF** |  |
| Paid-in capital | $8863325 |
| Accumulated earnings | 8882 |
| NET ASSETS | $8872207 |
| **NET ASSET VALUE** |  |
| Shares outstanding | 350000 |
| Net asset value | $25.35 |
| Shares authorized | Unlimited |
| Par value |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $8876013 |

---

*See notes to financial statements.*

Statement of Assets and Liabilities

------

Statement of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>iBonds <br> Oct 2034 <br> Term <br> TIPS <br> ETF<sup>(a)</sup> <br>|
| **INVESTMENT INCOME** |  |
| Dividends—affiliated | &nbsp;&nbsp; $120 |
| Interest—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; 82204 |
| Total investment income | &nbsp;&nbsp; 82324 |
| EXPENSES |  |
| Investment advisory | &nbsp;&nbsp; 2182 |
| Total expenses | &nbsp;&nbsp; 2182 |
| Less: |  |
| Investment advisory fees waived | &nbsp;&nbsp; (2)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 2180 |
| Net investment income | &nbsp;&nbsp; 80144 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| Net realized gain (loss) from: |  |
| Investments—unaffiliated | &nbsp;&nbsp; 46491 |
|  | &nbsp;&nbsp; 46491 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments—unaffiliated | &nbsp;&nbsp; (53686)<br>|
|  | &nbsp;&nbsp; (53686)<br>|
| Net realized and unrealized loss | &nbsp;&nbsp; (7195)<br>|
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $72949 |
| <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. |
| <sup>(b)</sup> Includes net inflationary and deflationary adjustments. See Note 4 of the Notes to Financial Statements. | <sup>(b)</sup> Includes net inflationary and deflationary adjustments. See Note 4 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | iShares <br>iBonds Oct <br> 2034 Term <br> TIPS ETF <br>|
|  | Period From <br>05/22/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |
| **OPERATIONS** |  |
| Net investment income | &nbsp;&nbsp; $80144 |
| Net realized gain | &nbsp;&nbsp; 46491 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (53686)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 72949 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (64067)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 8863325 |
| *NET ASSETS* |  |
| Total increase in net assets | &nbsp;&nbsp; 8872207 |
| Beginning of period | &nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $8872207 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statement of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> iBonds Oct <br> 2034 Term <br> TIPS ETF <br>|
|  | Period From <br>05/22/24<sup>(a)</sup> <br>to 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 0.42 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.29 |
| Net increase from investment operations | 0.71 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.36)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.35 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 2.83 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.10 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.10 %<sup>(h)</sup><br>|
| Net investment income | 3.67 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $8872 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 50<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

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*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> iBonds Oct 2034 Term TIPS<sup>(a)</sup> Diversified

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on May 22, 2024.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. The Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Fund. Because such gains or losses are not taxable to the Fund and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Fund's tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by the Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Fund.

**Indemnifications:** In the normal course of business, the Fund enters into contracts that contain a variety of representations that provide general indemnification. The Fund's maximum exposure under these arrangements is unknown because it involves future potential claims against the Fund, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** The Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of the Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Fund's investment adviser, as the valuation designee for the Fund. The Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of the Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

Notes to Financial Statements

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*Notes to Financial Statements* (continued)

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that the Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. SECURITIES AND OTHER INVESTMENTS***

**Inflation-Indexed Bonds:** Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation rises or falls, the principal value of inflation-indexed bonds will be adjusted upward or downward, and consequently the interest payable on these securities (calculated with respect to a larger or smaller principal amount) will be increased or reduced, respectively. Any upward or downward adjustment in the principal amount of an inflation-indexed bond is included as interest income in the Statement of Operations, even though investors do not receive their principal until maturity. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of the Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Fund, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the Fund, BFA is entitled to an annual investment advisory fee of 0.10%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statement of Operations does not include acquired fund fees and expenses.

BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through the termination date, in an amount equal to acquired fund fees and expenses, if any, attributable to the Fund's investments in other funds advised by BFA or its affiliates.

This amount is included in investment advisory fees waived in the Statement of Operations. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

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| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $2 |

---

2024 iShares Annual Financial Statements and Additional Information

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*Notes to Financial Statements* (continued)

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for the Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Fund.

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** The Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statement of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
|  | *U.S. Government Securities* | *U.S. Government Securities* |
| *iShares ETF* | &nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* |
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $4823691 | &nbsp;&nbsp;&nbsp; $2360374 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $6323142 | &nbsp;&nbsp;&nbsp; $— |

---

***7. INCOME TAX INFORMATION***

The Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is the Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Fund as of October 31, 2024 and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Fund's financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Fund's NAV.

The tax character of distributions paid was as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Period Ended* <br>*10/31/24*<br>|
| iBonds Oct 2034 Term TIPS |  |
| Ordinary income | &nbsp;&nbsp; $64067 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<br>| *Total* |
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $62568 | &nbsp;&nbsp;&nbsp; $(53686) | &nbsp;&nbsp;&nbsp; $8882 |

---

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $8876013 | &nbsp;&nbsp;&nbsp; $3406 | &nbsp;&nbsp;&nbsp; $(57092) | &nbsp;&nbsp;&nbsp; $(53686) |

---

***8. PRINCIPAL RISKS***

In the normal course of business, the Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Fund and its investments. The Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve the Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Fund may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** The Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force the Fund to reinvest in lower yielding securities. The Fund may also be exposed to reinvestment risk, which is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below the Fund portfolio's current earnings rate.

**Counterparty Credit Risk:** The Fund may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Fund manages counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Fund to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Fund's exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statement of Assets and Liabilities, less any collateral held by the Fund.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within the Fund's portfolio are disclosed in its Schedule of Investments.

The Fund invests a significant portion of its assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Fund invests.

The Fund invests a significant portion of its assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Fund may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Fund's performance.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by the Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of the Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | |
|:---|:---|:---|
|  | Period Ended <br>10/31/24<sup>(a)</sup>  | Period Ended <br>10/31/24<sup>(a)</sup>  |
| *iShares ETF* | *Shares* | *Amount* |
| iBonds Oct 2034 Term TIPS |  |  |
| Shares sold | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; $8863325 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on May 22, 2024.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Fund using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, the Fund's custodian, and the Fund. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statement of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Fund through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of iShares iBonds Oct 2034 Term TIPS ETF

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of iShares iBonds Oct 2034 Term TIPS ETF (one of the funds constituting iShares Trust, referred to hereafter as the "Fund") as of October 31, 2024, and the related statements of operations and changes in net assets, including the related notes, and the financial highlights for the period May 22, 2024 (commencement of operations) through October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2024, and the results of its operations, changes in its net assets and the financial highlights for the period May 22, 2024 (commencement of operations) through October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian. We believe that our audit provides a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

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Important Tax Information (unaudited)

The Fund hereby designates the following amount, or maximum amount allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

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| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $80466 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Fund hereby designates the following amount, or maximum amount allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $126635 |

---

The Fund hereby designates the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

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| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| iBonds Oct 2034 Term TIPS | &nbsp;&nbsp; $126635 |

---

Important Tax Information

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Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Fund, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Fund from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

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Board Review and Approval of Investment Advisory Contract

**iShares iBonds Oct 2034 Term TIPS ETF**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required to consider the approval of the proposed Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the terms of the proposed Advisory Agreement. At a meeting held on March 4-5, 2024, the Board, including the Independent Board Members, approved the selection of BFA as investment adviser and approved the proposed Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA. The Board also considered information previously provided by BFA, BlackRock Institutional Trust Company, N.A. ("BTC"), and BlackRock, Inc. ("BlackRock"), as applicable, at prior Board meetings. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses of the Fund; (ii) the nature, extent and quality of the services to be provided by BFA; (iii) the costs of services to be provided to the Fund and the availability of information related to profits to be realized by BFA and its affiliates; (iv) potential economies of scale; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the Advisory Agreement are discussed below.

**Expenses of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances.

The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level of the Fund supported the Board's approval of the Advisory Agreement.

**Nature, Extent and Quality of Services to be Provided by BFA:** The Board reviewed the scope of services to be provided by BFA under the Advisory Agreement. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time and have made significant investments into the iShares business to support the iShares funds and their shareholders. The Board considered representations by BFA, BTC, and BlackRock that the scope and quality of services to be provided to the Fund would be similar to the scope and quality of services provided to other iShares funds. The Board also considered BFA's compliance program and its compliance record with respect to other iShares funds including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons who will be responsible for the day-to-day management of the Fund, as well as the resources that will be available to them in managing the Fund. The Board also considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies, which were provided throughout the year with respect to other iShares funds, and other matters related to BFA's portfolio compliance program and other compliance programs and services.

Based on review of this information, the Board concluded that the nature, extent and quality of services to be provided to the Fund under the Advisory Agreement supported the Board's approval of the Advisory Agreement.

**Costs of Services to be Provided to the Fund and Profits to be Realized by BFA and Affiliates:** The Board did not consider the profitability of the Fund to BFA based on the fees payable under the Advisory Agreement or revenue to be received by BFA or its affiliates in connection with services to be provided to the Fund since the proposed relationship had not yet commenced. The Board noted that it expects to receive profitability information from BFA periodically following the Fund's launch and will thus be in a position to evaluate whether any new or additional breakpoints or other adjustments in Fund fees would be appropriate.

**Economies of Scale:** The Board considered information that it had previously received regarding potential economies of scale, efficiencies and scale benefits shared with the iShares funds through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for any breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

This consideration of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the Advisory Agreement.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the "Other

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

Accounts"). The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board further noted that BFA previously provided the Board with detailed information regarding how the Other Accounts (particularly institutional clients) generally differ from the iShares funds, including in terms of the different and generally more extensive services provided to the iShares funds, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement.

**Other Benefits to BFA and/or its Affiliates:** Except as noted below, the Board did not consider the "fallout" benefits or ancillary revenue to be received by BFA and/or its affiliates in connection with the services to be provided to the Fund by BFA since the proposed relationship had not yet commenced. However, the Board considered the potential payment of advisory fees and/or administration fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services and/or administration services. The Board further considered other direct benefits that might accrue to BFA, including the potential for reduction in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also noted the potential revenue to be received by BFA and/or its affiliates pursuant to an agreement that would permit a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board also considered the potential for revenue to BTC, the Fund's securities lending agent, and its affiliates in the event of any loaning of portfolio securities of the Fund. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that will be provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the Advisory Agreement.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including a majority of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services to be rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the Advisory Agreement.

2024 iShares Annual Financial Statements and Additional Information

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**iShares.com** \| 1-800-474-2737

**This report is intended for the Fund's shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by ICE Data Indices, LLC, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

![](g938995img9c03d4141.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares 0-5 Year Investment Grade Corporate Bond ETF \| SLQD \| NASDAQ |
| • iShares Aaa - A Rated Corporate Bond ETF \| QLTA \| NYSE Arca |
| • iShares BB Rated Corporate Bond ETF \| HYBB \| NYSE Arca |
| • iShares Convertible Bond ETF \| ICVT \| Cboe BZX Exchange |
| • iShares Floating Rate Bond ETF \| FLOT \| Cboe BZX Exchange |
| • iShares USD Green Bond ETF \| BGRN \| NASDAQ |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 95 |
| [Statements of Operations](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 97 |
| [Statements of Changes in Net Assets](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 99 |
| [Financial Highlights](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_FS-Footer-iSharesReport_8)  | &nbsp;&nbsp; 102 |
| [Notes to Financial Statements](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 108 |
| [Report of Independent Registered Public Accounting Firm](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 119 |
| [Important Tax Information](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 120 |
| [Additional Information](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 121 |
| [Board Review and Approval of Investment Advisory Contract](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_15Cheader-Footer-iSharesReport-249_1)  | &nbsp;&nbsp; 122 |
| [Glossary of Terms Used in this Report](#xx_15c157df-e2ba-4f3b-a00a-e932dffd436f_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 127 |

---

------

Schedule of Investments

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| Interpublic Group of Companies Inc. (The), 4.65%, <br> 10/01/28<br>| &nbsp;&nbsp; $190 | $188508 |
| Omnicom Group Inc./Omnicom Capital Inc. |  |  |
| 3.60%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1150 | 1133698 |
| 3.65%, 11/01/24 | &nbsp;&nbsp; 752 | 752000 |
|  |  | 2074206 |
| **Aerospace & Defense — 1.7%** | **Aerospace & Defense — 1.7%** | **Aerospace & Defense — 1.7%** |
| Boeing Co. (The) |  |  |
| 2.20%, 02/04/26 | &nbsp;&nbsp; 4322 | 4162606 |
| 2.70%, 02/01/27 | &nbsp;&nbsp; 660 | 622770 |
| 2.75%, 02/01/26 | &nbsp;&nbsp; 1345 | 1303597 |
| 3.10%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 495 | 478830 |
| 3.20%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 680 | 621461 |
| 3.25%, 02/01/28 | &nbsp;&nbsp; 945 | 886714 |
| 4.88%, 05/01/25 | &nbsp;&nbsp; 2678 | 2672581 |
| 5.04%, 05/01/27 | &nbsp;&nbsp; 1695 | 1687789 |
| 6.26%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 630 | 644622 |
| 6.30%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 1085 | 1123594 |
| General Dynamics Corp. |  |  |
| 1.15%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 370 | 351919 |
| 2.13%, 08/15/26 | &nbsp;&nbsp; 455 | 437827 |
| 2.38%, 11/15/24 | &nbsp;&nbsp; 575 | 574343 |
| 2.63%, 11/15/27 | &nbsp;&nbsp; 130 | 123245 |
| 3.25%, 04/01/25 | &nbsp;&nbsp; 523 | 520490 |
| 3.50%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 703 | 698837 |
| 3.50%, 04/01/27 | &nbsp;&nbsp; 650 | 636070 |
| 3.75%, 05/15/28 | &nbsp;&nbsp; 865 | 843750 |
| HEICO Corp., 5.25%, 08/01/28 | &nbsp;&nbsp; 505 | 512912 |
| Howmet Aerospace Inc. |  |  |
| 3.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 500 | 464938 |
| 5.90%, 02/01/27 | &nbsp;&nbsp; 590 | 604142 |
| L3Harris Technologies Inc. |  |  |
| 3.83%, 04/27/25 | &nbsp;&nbsp; 409 | 407033 |
| 3.85%, 12/15/26 | &nbsp;&nbsp; 470 | 463243 |
| 4.40%, 06/15/28 | &nbsp;&nbsp; 1370 | 1353230 |
| 5.05%, 06/01/29 | &nbsp;&nbsp; 755 | 760696 |
| 5.40%, 01/15/27 | &nbsp;&nbsp; 985 | 1001120 |
| Lockheed Martin Corp. |  |  |
| 3.55%, 01/15/26 | &nbsp;&nbsp; 908 | 897166 |
| 4.45%, 05/15/28 | &nbsp;&nbsp; 360 | 359502 |
| 4.50%, 02/15/29 | &nbsp;&nbsp; 455 | 453232 |
| 4.95%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 480 | 482095 |
| 5.10%, 11/15/27 | &nbsp;&nbsp; 675 | 687076 |
| Northrop Grumman Corp. |  |  |
| 2.93%, 01/15/25 | &nbsp;&nbsp; 579 | 576394 |
| 3.20%, 02/01/27 | &nbsp;&nbsp; 558 | 541879 |
| 3.25%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1605 | 1535699 |
| 4.60%, 02/01/29 | &nbsp;&nbsp; 375 | 373061 |
| RTX Corp. |  |  |
| 2.65%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 425 | 409498 |
| 3.13%, 05/04/27 | &nbsp;&nbsp; 629 | 606408 |
| 3.50%, 03/15/27 | &nbsp;&nbsp; 935 | 910622 |
| 3.95%, 08/16/25 | &nbsp;&nbsp; 1111 | 1103456 |
| 4.13%, 11/16/28 | &nbsp;&nbsp; 2225 | 2173267 |
| 5.00%, 02/27/26 | &nbsp;&nbsp; 435 | 436619 |
| 5.75%, 11/08/26 | &nbsp;&nbsp; 955 | 975090 |
| 5.75%, 01/15/29 | &nbsp;&nbsp; 335 | 348019 |
|  |  | 36827442 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Agriculture — 1.3%** | **Agriculture — 1.3%** | **Agriculture — 1.3%** |
| Altria Group Inc. |  |  |
| 2.35%, 05/06/25 | &nbsp;&nbsp; $686 | $677211 |
| 2.63%, 09/16/26 | &nbsp;&nbsp; 489 | 470966 |
| 4.40%, 02/14/26 | &nbsp;&nbsp; 945 | 940043 |
| 4.80%, 02/14/29 | &nbsp;&nbsp; 1490 | 1478872 |
| 6.20%, 11/01/28 | &nbsp;&nbsp; 390 | 408073 |
| Archer-Daniels-Midland Co., 2.50%, 08/11/26 | &nbsp;&nbsp; 925 | 892046 |
| BAT Capital Corp. |  |  |
| 2.26%, 03/25/28 | &nbsp;&nbsp; 1435 | 1315271 |
| 3.22%, 09/06/26 | &nbsp;&nbsp; 808 | 785765 |
| 3.46%, 09/06/29 | &nbsp;&nbsp; 410 | 383189 |
| 3.56%, 08/15/27 | &nbsp;&nbsp; 1262 | 1224242 |
| 4.70%, 04/02/27 | &nbsp;&nbsp; 789 | 787997 |
| BAT International Finance PLC |  |  |
| 1.67%, 03/25/26 | &nbsp;&nbsp; 1189 | 1138199 |
| 4.45%, 03/16/28 | &nbsp;&nbsp; 900 | 888305 |
| 5.93%, 02/02/29 | &nbsp;&nbsp; 710 | 735872 |
| Bunge Ltd. Finance Corp. |  |  |
| 1.63%, 08/17/25 | &nbsp;&nbsp; 547 | 533438 |
| 3.25%, 08/15/26 | &nbsp;&nbsp; 600 | 585928 |
| 3.75%, 09/25/27 | &nbsp;&nbsp; 190 | 185819 |
| 4.20%, 09/17/29 | &nbsp;&nbsp; 450 | 438072 |
| Philip Morris International Inc. |  |  |
| 0.88%, 05/01/26 | &nbsp;&nbsp; 593 | 561022 |
| 1.50%, 05/01/25 | &nbsp;&nbsp; 625 | 614466 |
| 2.75%, 02/25/26 | &nbsp;&nbsp; 637 | 621633 |
| 3.13%, 08/17/27<sup>(a)</sup> | &nbsp;&nbsp; 205 | 198113 |
| 3.13%, 03/02/28 | &nbsp;&nbsp; 145 | 138022 |
| 3.25%, 11/10/24 | &nbsp;&nbsp; 662 | 661397 |
| 3.38%, 08/11/25<sup>(a)</sup> | &nbsp;&nbsp; 583 | 578031 |
| 3.38%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 526 | 495075 |
| 4.38%, 11/01/27 | &nbsp;&nbsp; 450 | 447458 |
| 4.63%, 11/01/29 | &nbsp;&nbsp; 450 | 446882 |
| 4.75%, 02/12/27 | &nbsp;&nbsp; 730 | 732277 |
| 4.88%, 02/13/26 | &nbsp;&nbsp; 1305 | 1309244 |
| 4.88%, 02/15/28 | &nbsp;&nbsp; 1190 | 1196420 |
| 4.88%, 02/13/29 | &nbsp;&nbsp; 655 | 656260 |
| 5.00%, 11/17/25 | &nbsp;&nbsp; 585 | 588546 |
| 5.13%, 11/15/24 | &nbsp;&nbsp; 800 | 799983 |
| 5.13%, 11/17/27 | &nbsp;&nbsp; 1195 | 1211689 |
| 5.25%, 09/07/28 | &nbsp;&nbsp; 585 | 596885 |
| Reynolds American Inc., 4.45%, 06/12/25 | &nbsp;&nbsp; 1632 | 1627387 |
|  |  | 27350098 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| Delta Air Lines Inc. |  |  |
| 3.75%, 10/28/29 | &nbsp;&nbsp; 400 | 372754 |
| 4.38%, 04/19/28<sup>(a)</sup> | &nbsp;&nbsp; 335 | 327414 |
| 7.38%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 565 | 578419 |
| Southwest Airlines Co. |  |  |
| 5.13%, 06/15/27 | &nbsp;&nbsp; 1470 | 1481421 |
| 5.25%, 05/04/25 | &nbsp;&nbsp; 1090 | 1091249 |
|  |  | 3851257 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| NIKE Inc. |  |  |
| 2.38%, 11/01/26 | &nbsp;&nbsp; 735 | 707312 |
| 2.40%, 03/27/25 | &nbsp;&nbsp; 828 | 820995 |
| 2.75%, 03/27/27 | &nbsp;&nbsp; 792 | 762920 |
| Tapestry Inc. |  |  |
| 7.00%, 11/27/26 | &nbsp;&nbsp; 700 | 716708 |
| 7.05%, 11/27/25 | &nbsp;&nbsp; 405 | 410582 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Apparel (continued)** | **Apparel (continued)** | **Apparel (continued)** |
| 7.35%, 11/27/28<sup>(a)</sup> | &nbsp;&nbsp; $645 | $658546 |
|  |  | 4077063 |
| **Auto Manufacturers — 4.5%** | **Auto Manufacturers — 4.5%** | **Auto Manufacturers — 4.5%** |
| American Honda Finance Corp. |  |  |
| 1.00%, 09/10/25 | &nbsp;&nbsp; 638 | 618974 |
| 1.20%, 07/08/25 | &nbsp;&nbsp; 634 | 620036 |
| 1.30%, 09/09/26 | &nbsp;&nbsp; 677 | 639760 |
| 1.50%, 01/13/25<sup>(a)</sup> | &nbsp;&nbsp; 525 | 521298 |
| 2.00%, 03/24/28 | &nbsp;&nbsp; 595 | 546121 |
| 2.25%, 01/12/29 | &nbsp;&nbsp; 530 | 481149 |
| 2.30%, 09/09/26 | &nbsp;&nbsp; 320 | 307688 |
| 2.35%, 01/08/27 | &nbsp;&nbsp; 350 | 334871 |
| 3.50%, 02/15/28 | &nbsp;&nbsp; 385 | 372126 |
| 4.40%, 10/05/26 | &nbsp;&nbsp; 375 | 374154 |
| 4.40%, 09/05/29 | &nbsp;&nbsp; 515 | 505969 |
| 4.45%, 10/22/27 | &nbsp;&nbsp; 500 | 497689 |
| 4.70%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; 330 | 331337 |
| 4.75%, 01/12/26 | &nbsp;&nbsp; 265 | 265484 |
| 4.90%, 03/12/27 | &nbsp;&nbsp; 435 | 438014 |
| 4.90%, 07/09/27<sup>(a)</sup> | &nbsp;&nbsp; 375 | 378315 |
| 4.90%, 03/13/29 | &nbsp;&nbsp; 490 | 492453 |
| 4.95%, 01/09/26 | &nbsp;&nbsp; 550 | 551988 |
| 5.00%, 05/23/25 | &nbsp;&nbsp; 640 | 640884 |
| 5.13%, 07/07/28 | &nbsp;&nbsp; 650 | 659328 |
| 5.25%, 07/07/26 | &nbsp;&nbsp; 840 | 849189 |
| 5.65%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 615 | 635938 |
| Series A, 4.60%, 04/17/25<sup>(a)</sup> | &nbsp;&nbsp; 640 | 639414 |
| Cummins Inc. |  |  |
| 0.75%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 484 | 468837 |
| 4.90%, 02/20/29<sup>(a)</sup> | &nbsp;&nbsp; 195 | 197100 |
| Ford Motor Co., 4.35%, 12/08/26<sup>(a)</sup> | &nbsp;&nbsp; 1220 | 1199258 |
| Ford Motor Credit Co. LLC |  |  |
| 2.30%, 02/10/25 | &nbsp;&nbsp; 275 | 272528 |
| 2.70%, 08/10/26 | &nbsp;&nbsp; 840 | 801456 |
| 2.90%, 02/16/28 | &nbsp;&nbsp; 620 | 569817 |
| 2.90%, 02/10/29 | &nbsp;&nbsp; 625 | 558158 |
| 3.38%, 11/13/25 | &nbsp;&nbsp; 740 | 725935 |
| 3.82%, 11/02/27 | &nbsp;&nbsp; 580 | 553715 |
| 4.06%, 11/01/24 | &nbsp;&nbsp; 1195 | 1195000 |
| 4.13%, 08/04/25 | &nbsp;&nbsp; 1305 | 1293425 |
| 4.13%, 08/17/27 | &nbsp;&nbsp; 950 | 918072 |
| 4.27%, 01/09/27<sup>(a)</sup> | &nbsp;&nbsp; 745 | 727630 |
| 4.39%, 01/08/26 | &nbsp;&nbsp; 980 | 967948 |
| 4.54%, 08/01/26 | &nbsp;&nbsp; 695 | 685304 |
| 4.69%, 06/09/25 | &nbsp;&nbsp; 40 | 39846 |
| 4.95%, 05/28/27 | &nbsp;&nbsp; 1160 | 1146522 |
| 5.11%, 05/03/29 | &nbsp;&nbsp; 1120 | 1089612 |
| 5.13%, 06/16/25 | &nbsp;&nbsp; 1370 | 1367885 |
| 5.13%, 11/05/26 | &nbsp;&nbsp; 430 | 428237 |
| 5.30%, 09/06/29 | &nbsp;&nbsp; 810 | 792943 |
| 5.80%, 03/05/27 | &nbsp;&nbsp; 1145 | 1156326 |
| 5.80%, 03/08/29 | &nbsp;&nbsp; 1215 | 1215466 |
| 5.85%, 05/17/27 | &nbsp;&nbsp; 870 | 877791 |
| 6.80%, 05/12/28 | &nbsp;&nbsp; 1160 | 1201916 |
| 6.80%, 11/07/28 | &nbsp;&nbsp; 1115 | 1159191 |
| 6.95%, 03/06/26 | &nbsp;&nbsp; 1000 | 1017971 |
| 6.95%, 06/10/26 | &nbsp;&nbsp; 780 | 797055 |
| 7.35%, 11/04/27 | &nbsp;&nbsp; 1160 | 1218569 |
| General Motors Co. |  |  |
| 4.00%, 04/01/25 | &nbsp;&nbsp; 599 | 597458 |
| 4.20%, 10/01/27 | &nbsp;&nbsp; 685 | 671896 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 5.00%, 10/01/28 | &nbsp;&nbsp; $20 | $19972 |
| 5.40%, 10/15/29 | &nbsp;&nbsp; 730 | 736402 |
| 6.13%, 10/01/25 | &nbsp;&nbsp; 1683 | 1698481 |
| 6.80%, 10/01/27 | &nbsp;&nbsp; 880 | 922467 |
| General Motors Financial Co. Inc. |  |  |
| 1.25%, 01/08/26 | &nbsp;&nbsp; 1291 | 1237270 |
| 1.50%, 06/10/26 | &nbsp;&nbsp; 1015 | 961986 |
| 2.35%, 02/26/27 | &nbsp;&nbsp; 905 | 855341 |
| 2.40%, 04/10/28 | &nbsp;&nbsp; 965 | 884279 |
| 2.40%, 10/15/28 | &nbsp;&nbsp; 905 | 818627 |
| 2.70%, 08/20/27 | &nbsp;&nbsp; 845 | 796798 |
| 2.75%, 06/20/25 | &nbsp;&nbsp; 1118 | 1101576 |
| 2.90%, 02/26/25 | &nbsp;&nbsp; 645 | 640180 |
| 3.50%, 11/07/24 | &nbsp;&nbsp; 716 | 715759 |
| 3.80%, 04/07/25 | &nbsp;&nbsp; 995 | 990513 |
| 4.00%, 01/15/25 | &nbsp;&nbsp; 715 | 713304 |
| 4.00%, 10/06/26 | &nbsp;&nbsp; 680 | 669996 |
| 4.30%, 07/13/25<sup>(a)</sup> | &nbsp;&nbsp; 825 | 821772 |
| 4.30%, 04/06/29 | &nbsp;&nbsp; 845 | 815325 |
| 4.35%, 04/09/25 | &nbsp;&nbsp; 1043 | 1039674 |
| 4.35%, 01/17/27 | &nbsp;&nbsp; 1182 | 1168970 |
| 4.90%, 10/06/29<sup>(a)</sup> | &nbsp;&nbsp; 750 | 739180 |
| 5.00%, 04/09/27 | &nbsp;&nbsp; 1170 | 1171594 |
| 5.25%, 03/01/26 | &nbsp;&nbsp; 1220 | 1223608 |
| 5.35%, 07/15/27 | &nbsp;&nbsp; 545 | 550926 |
| 5.40%, 04/06/26 | &nbsp;&nbsp; 870 | 876848 |
| 5.40%, 05/08/27<sup>(a)</sup> | &nbsp;&nbsp; 155 | 156748 |
| 5.55%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 990 | 1002164 |
| 5.65%, 01/17/29<sup>(a)</sup> | &nbsp;&nbsp; 500 | 508212 |
| 5.80%, 06/23/28 | &nbsp;&nbsp; 955 | 977271 |
| 5.80%, 01/07/29 | &nbsp;&nbsp; 1005 | 1027590 |
| 6.00%, 01/09/28 | &nbsp;&nbsp; 860 | 884531 |
| 6.05%, 10/10/25 | &nbsp;&nbsp; 1080 | 1090727 |
| Honda Motor Co. Ltd. |  |  |
| 2.27%, 03/10/25 | &nbsp;&nbsp; 890 | 881442 |
| 2.53%, 03/10/27 | &nbsp;&nbsp; 760 | 726937 |
| PACCAR Financial Corp. |  |  |
| 4.45%, 03/30/26 | &nbsp;&nbsp; 30 | 30000 |
| 4.45%, 08/06/27 | &nbsp;&nbsp; 375 | 376217 |
| 4.60%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 460 | 460588 |
| 5.00%, 05/13/27 | &nbsp;&nbsp; 320 | 325139 |
| Toyota Motor Corp. |  |  |
| 1.34%, 03/25/26 | &nbsp;&nbsp; 911 | 872551 |
| 2.76%, 07/02/29<sup>(a)</sup> | &nbsp;&nbsp; 385 | 357533 |
| 3.67%, 07/20/28<sup>(a)</sup> | &nbsp;&nbsp; 500 | 488887 |
| 5.12%, 07/13/28 | &nbsp;&nbsp; 465 | 474259 |
| 5.28%, 07/13/26<sup>(a)</sup> | &nbsp;&nbsp; 320 | 324396 |
| Toyota Motor Credit Corp. |  |  |
| 0.80%, 10/16/25 | &nbsp;&nbsp; 784 | 757035 |
| 0.80%, 01/09/26 | &nbsp;&nbsp; 704 | 674098 |
| 1.13%, 06/18/26 | &nbsp;&nbsp; 1020 | 967731 |
| 1.15%, 08/13/27 | &nbsp;&nbsp; 90 | 82324 |
| 1.45%, 01/13/25<sup>(a)</sup> | &nbsp;&nbsp; 1075 | 1068656 |
| 1.80%, 02/13/25 | &nbsp;&nbsp; 791 | 784113 |
| 1.90%, 01/13/27 | &nbsp;&nbsp; 743 | 703542 |
| 1.90%, 04/06/28 | &nbsp;&nbsp; 300 | 274741 |
| 3.00%, 04/01/25 | &nbsp;&nbsp; 1052 | 1044789 |
| 3.05%, 03/22/27 | &nbsp;&nbsp; 1160 | 1124772 |
| 3.05%, 01/11/28 | &nbsp;&nbsp; 195 | 186705 |
| 3.20%, 01/11/27 | &nbsp;&nbsp; 789 | 768223 |
| 3.40%, 04/14/25 | &nbsp;&nbsp; 559 | 556608 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 3.65%, 08/18/25 | &nbsp;&nbsp; $760 | $755120 |
| 3.65%, 01/08/29<sup>(a)</sup> | &nbsp;&nbsp; 405 | 391124 |
| 3.95%, 06/30/25 | &nbsp;&nbsp; 1125 | 1119875 |
| 4.35%, 10/08/27 | &nbsp;&nbsp; 510 | 508125 |
| 4.45%, 05/18/26 | &nbsp;&nbsp; 1070 | 1070390 |
| 4.45%, 06/29/29 | &nbsp;&nbsp; 620 | 614523 |
| 4.55%, 08/07/26 | &nbsp;&nbsp; 270 | 270504 |
| 4.55%, 09/20/27<sup>(a)</sup> | &nbsp;&nbsp; 1155 | 1158062 |
| 4.55%, 08/09/29 | &nbsp;&nbsp; 750 | 744806 |
| 4.63%, 01/12/28 | &nbsp;&nbsp; 1030 | 1033998 |
| 4.65%, 01/05/29 | &nbsp;&nbsp; 600 | 600497 |
| 4.80%, 01/10/25 | &nbsp;&nbsp; 730 | 729997 |
| 4.80%, 01/05/26<sup>(a)</sup> | &nbsp;&nbsp; 390 | 391513 |
| 5.00%, 08/14/26 | &nbsp;&nbsp; 545 | 550083 |
| 5.05%, 05/16/29 | &nbsp;&nbsp; 730 | 740042 |
| 5.20%, 05/15/26 | &nbsp;&nbsp; 325 | 328433 |
| 5.25%, 09/11/28 | &nbsp;&nbsp; 585 | 597348 |
| 5.40%, 11/10/25 | &nbsp;&nbsp; 795 | 802522 |
| 5.40%, 11/20/26 | &nbsp;&nbsp; 700 | 712798 |
| 5.45%, 11/10/27 | &nbsp;&nbsp; 395 | 405835 |
| 5.60%, 09/11/25 | &nbsp;&nbsp; 380 | 383497 |
| Series B, 5.00%, 03/19/27 | &nbsp;&nbsp; 560 | 566035 |
|  |  | 94219550 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| Aptiv PLC/Aptiv Global Financing DAC, 4.65%, <br> 09/13/29<br>| &nbsp;&nbsp; 435 | 423288 |
| BorgWarner Inc. |  |  |
| 2.65%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 830 | 788165 |
| 4.95%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 320 | 318655 |
| Lear Corp., 3.80%, 09/15/27 | &nbsp;&nbsp; 460 | 446685 |
| Magna International Inc., 4.15%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 638 | 635254 |
|  |  | 2612047 |
| **Banks — 32.5%** | **Banks — 32.5%** | **Banks — 32.5%** |
| Australia & New Zealand Banking Group Ltd. |  |  |
| 3.70%, 11/16/25 | &nbsp;&nbsp; 543 | 538450 |
| 5.09%, 12/08/25 | &nbsp;&nbsp; 285 | 286604 |
| 5.38%, 07/03/25 | &nbsp;&nbsp; 415 | 417274 |
| Australia & New Zealand Banking Group <br> Ltd./New York<br>|  |  |
| 3.92%, 09/30/27 | &nbsp;&nbsp; 500 | 492776 |
| 4.75%, 01/18/27 | &nbsp;&nbsp; 960 | 965128 |
| 4.90%, 07/16/27 | &nbsp;&nbsp; 770 | 778437 |
| 5.00%, 03/18/26 | &nbsp;&nbsp; 780 | 785415 |
| 5.67%, 10/03/25<sup>(a)</sup> | &nbsp;&nbsp; 850 | 859213 |
| Banco Bilbao Vizcaya Argentaria SA |  |  |
| 1.13%, 09/18/25<sup>(a)</sup> | &nbsp;&nbsp; 920 | 892637 |
| 5.38%, 03/13/29 | &nbsp;&nbsp; 800 | 811727 |
| 5.86%, 09/14/26, (1-year CMT + 2.300%)<sup>(c)</sup> | &nbsp;&nbsp; 920 | 924821 |
| 6.14%, 09/14/28, (1-year CMT + 2.700%)<sup>(c)</sup> | &nbsp;&nbsp; 465 | 478623 |
| Banco Santander SA |  |  |
| 1.72%, 09/14/27, (1-year CMT + 0.900%)<sup>(c)</sup> | &nbsp;&nbsp; 1205 | 1134110 |
| 1.85%, 03/25/26 | &nbsp;&nbsp; 1335 | 1279812 |
| 2.75%, 05/28/25 | &nbsp;&nbsp; 1233 | 1216882 |
| 3.31%, 06/27/29 | &nbsp;&nbsp; 630 | 588556 |
| 3.50%, 03/24/25 | &nbsp;&nbsp; 1025 | 1019974 |
| 3.80%, 02/23/28 | &nbsp;&nbsp; 1020 | 982878 |
| 4.18%, 03/24/28, (1-year CMT + 2.000%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1425 | 1396794 |
| 4.25%, 04/11/27 | &nbsp;&nbsp; 1155 | 1137600 |
| 4.38%, 04/12/28 | &nbsp;&nbsp; 1195 | 1170265 |
| 5.15%, 08/18/25 | &nbsp;&nbsp; 745 | 745762 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.29%, 08/18/27 | &nbsp;&nbsp; $1605 | $1616664 |
| 5.37%, 07/15/28, (1-year CMT + 0.950%)<sup>(c)</sup> | &nbsp;&nbsp; 855 | 862165 |
| 5.55%, 03/14/28, (1-year CMT + 1.250%)<sup>(c)</sup> | &nbsp;&nbsp; 400 | 404110 |
| 5.59%, 08/08/28 | &nbsp;&nbsp; 1490 | 1523406 |
| 6.53%, 11/07/27, (1-year CMT + 1.650%)<sup>(c)</sup> | &nbsp;&nbsp; 1015 | 1048644 |
| 6.61%, 11/07/28 | &nbsp;&nbsp; 1015 | 1077671 |
| Bank of America Corp. |  |  |
| 1.20%, 10/24/26, (1-day SOFR + 1.010%)<sup>(c)</sup> | &nbsp;&nbsp; 1900 | 1832070 |
| 1.32%, 06/19/26, (1-day SOFR + 1.150%)<sup>(c)</sup> | &nbsp;&nbsp; 2098 | 2049053 |
| 1.53%, 12/06/25, (1-day SOFR + 0.650%)<sup>(c)</sup> | &nbsp;&nbsp; 1095 | 1090641 |
| 1.73%, 07/22/27, (1-day SOFR + 0.960%)<sup>(c)</sup> | &nbsp;&nbsp; 4058 | 3848650 |
| 2.02%, 02/13/26, <br> (3-mo. CME Term SOFR + 0.902%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1050 | 1040418 |
| 2.09%, 06/14/29, (1-day SOFR + 1.060%)<sup>(c)</sup> | &nbsp;&nbsp; 1845 | 1672780 |
| 2.55%, 02/04/28, (1-day SOFR + 1.050%)<sup>(c)</sup> | &nbsp;&nbsp; 1675 | 1593321 |
| 3.25%, 10/21/27 | &nbsp;&nbsp; 1610 | 1552686 |
| 3.37%, 01/23/26, <br> (3-mo. CME Term SOFR + 1.072%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1370 | 1363473 |
| 3.38%, 04/02/26, (1-day SOFR + 1.330%)<sup>(c)</sup> | &nbsp;&nbsp; 2045 | 2029942 |
| 3.42%, 12/20/28, <br> (3-mo. CME Term SOFR + 1.302%)<sup>(c)</sup><br>| &nbsp;&nbsp; 4225 | 4051791 |
| 3.50%, 04/19/26 | &nbsp;&nbsp; 1957 | 1926763 |
| 3.56%, 04/23/27, <br> (3-mo. CME Term SOFR + 1.322%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2210 | 2170178 |
| 3.59%, 07/21/28, <br> (3-mo. CME Term SOFR + 1.632%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1512 | 1464756 |
| 3.71%, 04/24/28, <br> (3-mo. CME Term SOFR + 1.774%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1505 | 1466152 |
| 3.82%, 01/20/28, <br> (3-mo. CME Term SOFR + 1.837%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1950 | 1908822 |
| 3.88%, 08/01/25 | &nbsp;&nbsp; 1552 | 1544010 |
| 3.97%, 03/05/29, <br> (3-mo. CME Term SOFR + 1.332%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1380 | 1338515 |
| 4.00%, 01/22/25 | &nbsp;&nbsp; 1680 | 1676511 |
| 4.25%, 10/22/26 | &nbsp;&nbsp; 1710 | 1694461 |
| 4.27%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2085 | 2040383 |
| 4.38%, 04/27/28, (1-day SOFR + 1.580%)<sup>(c)</sup> | &nbsp;&nbsp; 1765 | 1746835 |
| 4.45%, 03/03/26 | &nbsp;&nbsp; 1646 | 1637725 |
| 4.83%, 07/22/26, (1-day SOFR + 1.750%)<sup>(c)</sup> | &nbsp;&nbsp; 1405 | 1403042 |
| 4.95%, 07/22/28, (1-day SOFR + 2.040%)<sup>(c)</sup> | &nbsp;&nbsp; 2253 | 2261407 |
| 5.08%, 01/20/27, (1-day SOFR + 1.290%)<sup>(c)</sup> | &nbsp;&nbsp; 1895 | 1899492 |
| 5.20%, 04/25/29, (1-day SOFR + 1.630%)<sup>(c)</sup> | &nbsp;&nbsp; 2465 | 2486965 |
| 5.82%, 09/15/29, (1-day SOFR + 1.570%)<sup>(c)</sup> | &nbsp;&nbsp; 1970 | 2030654 |
| 5.93%, 09/15/27, (1-day SOFR + 1.340%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1095 | 1118167 |
| 6.20%, 11/10/28, (1-day SOFR + 1.990%)<sup>(c)</sup> | &nbsp;&nbsp; 1365 | 1419507 |
| Series L, 3.95%, 04/21/25 | &nbsp;&nbsp; 1702 | 1694829 |
| Series L, 4.18%, 11/25/27 | &nbsp;&nbsp; 1835 | 1799610 |
| Series N, 1.66%, 03/11/27, <br> (1-day SOFR + 0.910%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2085 | 1995889 |
| Bank of America NA |  |  |
| 5.53%, 08/18/26 | &nbsp;&nbsp; 1590 | 1615888 |
| 5.65%, 08/18/25 | &nbsp;&nbsp; 2084 | 2101428 |
| Bank of Montreal |  |  |
| 0.95%, 01/22/27, (1-day SOFR + 0.603%)<sup>(c)</sup> | &nbsp;&nbsp; 630 | 600501 |
| 1.25%, 09/15/26 | &nbsp;&nbsp; 942 | 885959 |
| 1.50%, 01/10/25 | &nbsp;&nbsp; 930 | 924336 |
| 1.85%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1005 | 990411 |
| 2.65%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 955 | 915191 |
| 3.70%, 06/07/25<sup>(a)</sup> | &nbsp;&nbsp; 830 | 824847 |
| 5.20%, 12/12/24 | &nbsp;&nbsp; 615 | 615129 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.20%, 02/01/28 | &nbsp;&nbsp; $1010 | $1026065 |
| 5.27%, 12/11/26 | &nbsp;&nbsp; 660 | 668602 |
| 5.30%, 06/05/26 | &nbsp;&nbsp; 585 | 591320 |
| 5.37%, 06/04/27<sup>(a)</sup> | &nbsp;&nbsp; 555 | 565967 |
| 5.72%, 09/25/28 | &nbsp;&nbsp; 950 | 982627 |
| 5.92%, 09/25/25<sup>(a)</sup> | &nbsp;&nbsp; 695 | 702781 |
| Series f2f, 4.57%, 09/10/27, <br> (1-day SOFR + 0.880%)<sup>(c)</sup><br>| &nbsp;&nbsp; 545 | 544083 |
| Series H, 4.70%, 09/14/27 | &nbsp;&nbsp; 465 | 465789 |
| Bank of New York Mellon Corp. (The) |  |  |
| 0.75%, 01/28/26 | &nbsp;&nbsp; 414 | 395235 |
| 1.05%, 10/15/26 | &nbsp;&nbsp; 175 | 163924 |
| 1.60%, 04/24/25 | &nbsp;&nbsp; 677 | 667919 |
| 1.65%, 07/14/28 | &nbsp;&nbsp; 300 | 270698 |
| 2.05%, 01/26/27<sup>(a)</sup> | &nbsp;&nbsp; 430 | 408311 |
| 2.45%, 08/17/26 | &nbsp;&nbsp; 455 | 440012 |
| 2.80%, 05/04/26 | &nbsp;&nbsp; 435 | 424687 |
| 3.00%, 10/30/28 | &nbsp;&nbsp; 510 | 477744 |
| 3.25%, 05/16/27<sup>(a)</sup> | &nbsp;&nbsp; 360 | 349324 |
| 3.30%, 08/23/29 | &nbsp;&nbsp; 700 | 653417 |
| 3.40%, 01/29/28 | &nbsp;&nbsp; 510 | 492724 |
| 3.85%, 04/28/28 | &nbsp;&nbsp; 515 | 503493 |
| Series G, 3.00%, 02/24/25 | &nbsp;&nbsp; 372 | 370380 |
| Bank of Nova Scotia (The) |  |  |
| 1.05%, 03/02/26 | &nbsp;&nbsp; 692 | 659852 |
| 1.30%, 06/11/25 | &nbsp;&nbsp; 932 | 913904 |
| 1.30%, 09/15/26 | &nbsp;&nbsp; 650 | 612085 |
| 1.35%, 06/24/26 | &nbsp;&nbsp; 565 | 536891 |
| 1.45%, 01/10/25 | &nbsp;&nbsp; 1235 | 1226812 |
| 1.95%, 02/02/27 | &nbsp;&nbsp; 570 | 537693 |
| 2.20%, 02/03/25 | &nbsp;&nbsp; 1090 | 1083636 |
| 2.70%, 08/03/26 | &nbsp;&nbsp; 490 | 474793 |
| 2.95%, 03/11/27 | &nbsp;&nbsp; 593 | 570025 |
| 3.45%, 04/11/25 | &nbsp;&nbsp; 1335 | 1326942 |
| 4.40%, 09/08/28, (1-day SOFR + 1.000%)<sup>(c)</sup> | &nbsp;&nbsp; 800 | 790774 |
| 4.50%, 12/16/25<sup>(a)</sup> | &nbsp;&nbsp; 926 | 920428 |
| 4.75%, 02/02/26 | &nbsp;&nbsp; 740 | 741032 |
| 5.25%, 12/06/24 | &nbsp;&nbsp; 475 | 475297 |
| 5.25%, 06/12/28 | &nbsp;&nbsp; 605 | 614556 |
| 5.35%, 12/07/26 | &nbsp;&nbsp; 840 | 853281 |
| 5.40%, 06/04/27 | &nbsp;&nbsp; 375 | 382674 |
| 5.45%, 06/12/25<sup>(a)</sup> | &nbsp;&nbsp; 885 | 888367 |
| 5.45%, 08/01/29 | &nbsp;&nbsp; 605 | 620413 |
| Barclays PLC |  |  |
| 2.28%, 11/24/27, (1-year CMT + 1.050%)<sup>(c)</sup> | &nbsp;&nbsp; 1640 | 1554351 |
| 2.85%, 05/07/26, (1-day SOFR + 2.714%)<sup>(c)</sup> | &nbsp;&nbsp; 1282 | 1266551 |
| 3.65%, 03/16/25 | &nbsp;&nbsp; 1556 | 1547926 |
| 4.34%, 01/10/28<sup>(a)</sup> | &nbsp;&nbsp; 1030 | 1010418 |
| 4.38%, 01/12/26 | &nbsp;&nbsp; 1866 | 1854298 |
| 4.84%, 05/09/28 | &nbsp;&nbsp; 1681 | 1657740 |
| 4.84%, 09/10/28, (1-day SOFR + 1.340%)<sup>(c)</sup> | &nbsp;&nbsp; 610 | 607477 |
| 4.97%, 05/16/29, <br> (3-mo. LIBOR US + 1.902%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1295 | 1287798 |
| 5.20%, 05/12/26 | &nbsp;&nbsp; 1492 | 1493984 |
| 5.30%, 08/09/26, (1-year CMT + 2.300%)<sup>(c)</sup> | &nbsp;&nbsp; 1295 | 1295719 |
| 5.50%, 08/09/28, (1-year CMT + 2.650%)<sup>(c)</sup> | &nbsp;&nbsp; 1265 | 1280422 |
| 5.67%, 03/12/28, (1-day SOFR +1.490%)<sup>(c)</sup> | &nbsp;&nbsp; 630 | 639405 |
| 5.83%, 05/09/27, (1-day SOFR + 2.210%)<sup>(c)</sup> | &nbsp;&nbsp; 1455 | 1472481 |
| 6.49%, 09/13/29, (1-day SOFR + 2.220%)<sup>(c)</sup> | &nbsp;&nbsp; 810 | 847128 |
| 6.50%, 09/13/27, (1-day SOFR + 1.880%)<sup>(c)</sup> | &nbsp;&nbsp; 540 | 554482 |
| 7.33%, 11/02/26, (1-year CMT + 3.050%)<sup>(c)</sup> | &nbsp;&nbsp; 1130 | 1154659 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 7.39%, 11/02/28, (1-year CMT + 3.300%)<sup>(c)</sup> | &nbsp;&nbsp; $1000 | $1064069 |
| BPCE SA, 3.38%, 12/02/26 | &nbsp;&nbsp; 250 | 243861 |
| Canadian Imperial Bank of Commerce |  |  |
| 0.95%, 10/23/25 | &nbsp;&nbsp; 441 | 426088 |
| 2.25%, 01/28/25 | &nbsp;&nbsp; 603 | 599069 |
| 3.30%, 04/07/25 | &nbsp;&nbsp; 805 | 799608 |
| 3.45%, 04/07/27 | &nbsp;&nbsp; 675 | 657081 |
| 3.95%, 08/04/25 | &nbsp;&nbsp; 775 | 770800 |
| 4.51%, 09/11/27, (1-day SOFR + 0.930%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 405 | 403535 |
| 5.00%, 04/28/28 | &nbsp;&nbsp; 780 | 785263 |
| 5.14%, 04/28/25 | &nbsp;&nbsp; 710 | 710886 |
| 5.24%, 06/28/27 | &nbsp;&nbsp; 975 | 989191 |
| 5.26%, 04/08/29 | &nbsp;&nbsp; 860 | 874155 |
| 5.99%, 10/03/28<sup>(a)</sup> | &nbsp;&nbsp; 540 | 563778 |
| Citibank NA |  |  |
| 4.84%, 08/06/29 | &nbsp;&nbsp; 1210 | 1212966 |
| 4.93%, 08/06/26 | &nbsp;&nbsp; 805 | 810021 |
| 5.44%, 04/30/26 | &nbsp;&nbsp; 1865 | 1887662 |
| 5.49%, 12/04/26 | &nbsp;&nbsp; 1690 | 1721919 |
| 5.80%, 09/29/28 | &nbsp;&nbsp; 2000 | 2075354 |
| Citigroup Inc. |  |  |
| 1.12%, 01/28/27, (1-day SOFR + 0.765%)<sup>(c)</sup> | &nbsp;&nbsp; 2374 | 2266755 |
| 1.28%, 11/03/25, (1-day SOFR + 0.528%)<sup>(c)</sup> | &nbsp;&nbsp; 1200 | 1199675 |
| 1.46%, 06/09/27, (1-day SOFR + 0.770%)<sup>(c)</sup> | &nbsp;&nbsp; 2290 | 2170990 |
| 2.01%, 01/25/26, (1-day SOFR + 0.694%)<sup>(c)</sup> | &nbsp;&nbsp; 1765 | 1750966 |
| 3.07%, 02/24/28, (1-day SOFR + 1.280%)<sup>(c)</sup> | &nbsp;&nbsp; 2100 | 2020881 |
| 3.11%, 04/08/26, (1-day SOFR + 2.842%)<sup>(c)</sup> | &nbsp;&nbsp; 2598 | 2575226 |
| 3.20%, 10/21/26 | &nbsp;&nbsp; 2675 | 2599835 |
| 3.29%, 03/17/26, (1-day SOFR + 1.528%)<sup>(c)</sup> | &nbsp;&nbsp; 1310 | 1300457 |
| 3.30%, 04/27/25 | &nbsp;&nbsp; 1126 | 1118252 |
| 3.40%, 05/01/26 | &nbsp;&nbsp; 1870 | 1834749 |
| 3.52%, 10/27/28, <br> (3-mo. CME Term SOFR + 1.413%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1980 | 1905712 |
| 3.67%, 07/24/28, <br> (3-mo. CME Term SOFR + 1.652%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2150 | 2085240 |
| 3.70%, 01/12/26 | &nbsp;&nbsp; 1252 | 1237375 |
| 3.88%, 03/26/25 | &nbsp;&nbsp; 853 | 848951 |
| 3.89%, 01/10/28, <br> (3-mo. CME Term SOFR + 1.825%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2300 | 2253559 |
| 4.08%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.454%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 595 | 578823 |
| 4.13%, 07/25/28 | &nbsp;&nbsp; 1600 | 1557464 |
| 4.30%, 11/20/26 | &nbsp;&nbsp; 1125 | 1113942 |
| 4.40%, 06/10/25 | &nbsp;&nbsp; 1837 | 1829712 |
| 4.45%, 09/29/27<sup>(a)</sup> | &nbsp;&nbsp; 2939 | 2901133 |
| 4.60%, 03/09/26 | &nbsp;&nbsp; 1435 | 1430586 |
| 4.66%, 05/24/28, (1-day SOFR + 1.887%)<sup>(c)</sup> | &nbsp;&nbsp; 1450 | 1444744 |
| 5.50%, 09/13/25 | &nbsp;&nbsp; 1536 | 1545624 |
| 5.61%, 09/29/26, (1-day SOFR + 1.546%)<sup>(c)</sup> | &nbsp;&nbsp; 2270 | 2280912 |
| Citizens Bank NA |  |  |
| 2.25%, 04/28/25 | &nbsp;&nbsp; 267 | 263595 |
| 4.58%, 08/09/28, (1-day SOFR + 2.000%)<sup>(c)</sup> | &nbsp;&nbsp; 325 | 321103 |
| Citizens Bank NA/Providence RI, 3.75%, 02/18/26 | &nbsp;&nbsp; 255 | 250867 |
| Citizens Financial Group Inc., 2.85%, 07/27/26 | &nbsp;&nbsp; 218 | 210138 |
| Comerica Inc., 4.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 315 | 299300 |
| Commonwealth Bank of Australia/New York |  |  |
| 5.08%, 01/10/25 | &nbsp;&nbsp; 190 | 190050 |
| 5.32%, 03/13/26 | &nbsp;&nbsp; 250 | 252705 |
| 5.50%, 09/12/25 | &nbsp;&nbsp; 250 | 251837 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Cooperatieve Rabobank UA |  |  |
| 3.75%, 07/21/26 | &nbsp;&nbsp; $676 | $661307 |
| 4.38%, 08/04/25 | &nbsp;&nbsp; 1239 | 1231239 |
| Cooperatieve Rabobank UA/New York |  |  |
| 1.38%, 01/10/25 | &nbsp;&nbsp; 745 | 740048 |
| 3.38%, 05/21/25 | &nbsp;&nbsp; 590 | 586676 |
| 4.49%, 10/17/29 | &nbsp;&nbsp; 505 | 498244 |
| 4.80%, 01/09/29 | &nbsp;&nbsp; 425 | 427166 |
| 4.85%, 01/09/26 | &nbsp;&nbsp; 305 | 306232 |
| 5.00%, 01/13/25 | &nbsp;&nbsp; 420 | 420107 |
| 5.04%, 03/05/27 | &nbsp;&nbsp; 370 | 374266 |
| Deutsche Bank AG, 4.50%, 04/01/25 | &nbsp;&nbsp; 985 | 981051 |
| Deutsche Bank AG/New York |  |  |
| 1.69%, 03/19/26 | &nbsp;&nbsp; 880 | 845497 |
| 2.13%, 11/24/26, (1-day SOFR + 1.870%)<sup>(c)</sup> | &nbsp;&nbsp; 1265 | 1224950 |
| 2.31%, 11/16/27, (1-day SOFR + 1.219%)<sup>(c)</sup> | &nbsp;&nbsp; 1145 | 1082301 |
| 2.55%, 01/07/28, (1-day SOFR + 1.318%)<sup>(c)</sup> | &nbsp;&nbsp; 805 | 760855 |
| 3.96%, 11/26/25, (1-day SOFR + 2.581%)<sup>(c)</sup> | &nbsp;&nbsp; 1421 | 1419174 |
| 4.16%, 05/13/25 | &nbsp;&nbsp; 240 | 239340 |
| 5.41%, 05/10/29 | &nbsp;&nbsp; 720 | 730389 |
| 5.71%, 02/08/28, (1-day SOFR + 1.594%)<sup>(c)</sup> | &nbsp;&nbsp; 680 | 686700 |
| 6.12%, 07/14/26, (1-day SOFR + 3.190%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 955 | 960221 |
| 6.72%, 01/18/29, (1-day SOFR + 3.180%)<sup>(c)</sup> | &nbsp;&nbsp; 1085 | 1129642 |
| 7.15%, 07/13/27, (1-day SOFR + 2.520%)<sup>(c)</sup> | &nbsp;&nbsp; 695 | 717370 |
| Discover Bank |  |  |
| 3.45%, 07/27/26 | &nbsp;&nbsp; 275 | 267965 |
| 4.65%, 09/13/28 | &nbsp;&nbsp; 825 | 810605 |
| Fifth Third Bancorp |  |  |
| 1.71%, 11/01/27, (1-day SOFR + 0.685%)<sup>(c)</sup> | &nbsp;&nbsp; 480 | 451909 |
| 2.38%, 01/28/25 | &nbsp;&nbsp; 239 | 237599 |
| 2.55%, 05/05/27 | &nbsp;&nbsp; 315 | 299311 |
| 3.95%, 03/14/28 | &nbsp;&nbsp; 443 | 430437 |
| 6.34%, 07/27/29, (1-day SOFR + 2.340%)<sup>(c)</sup> | &nbsp;&nbsp; 910 | 949313 |
| 6.36%, 10/27/28, <br> (1-day SOFR Index + 2.192%)<sup>(c)</sup><br>| &nbsp;&nbsp; 695 | 719918 |
| Fifth Third Bank NA |  |  |
| 2.25%, 02/01/27 | &nbsp;&nbsp; 250 | 237246 |
| 3.85%, 03/15/26 | &nbsp;&nbsp; 220 | 216370 |
| 3.95%, 07/28/25 | &nbsp;&nbsp; 200 | 198874 |
| Goldman Sachs Bank USA/New York |  |  |
| 5.28%, 03/18/27, (1-day SOFR +0.777%)<sup>(c)</sup> | &nbsp;&nbsp; 945 | 950914 |
| 5.41%, 05/21/27, (1-day SOFR +0.750%)<sup>(c)</sup> | &nbsp;&nbsp; 1405 | 1418231 |
| Goldman Sachs Group Inc. (The) |  |  |
| 0.86%, 02/12/26, (1-day SOFR + 0.609%)<sup>(c)</sup> | &nbsp;&nbsp; 660 | 651812 |
| 1.09%, 12/09/26, (1-day SOFR + 0.789%)<sup>(c)</sup> | &nbsp;&nbsp; 1625 | 1557759 |
| 1.43%, 03/09/27, (1-day SOFR + 0.798%)<sup>(c)</sup> | &nbsp;&nbsp; 2305 | 2200559 |
| 1.54%, 09/10/27, (1-day SOFR + 0.818%)<sup>(c)</sup> | &nbsp;&nbsp; 2600 | 2448736 |
| 1.95%, 10/21/27, (1-day SOFR + 0.913%)<sup>(c)</sup> | &nbsp;&nbsp; 3765 | 3558592 |
| 2.64%, 02/24/28, (1-day SOFR + 1.114%)<sup>(c)</sup> | &nbsp;&nbsp; 2345 | 2233432 |
| 3.50%, 01/23/25 | &nbsp;&nbsp; 1805 | 1797840 |
| 3.50%, 04/01/25 | &nbsp;&nbsp; 2738 | 2719916 |
| 3.50%, 11/16/26 | &nbsp;&nbsp; 2665 | 2602926 |
| 3.62%, 03/15/28, (1-day SOFR + 1.846%)<sup>(c)</sup> | &nbsp;&nbsp; 2935 | 2855495 |
| 3.69%, 06/05/28, <br> (3-mo. CME Term SOFR + 1.772%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2385 | 2318542 |
| 3.75%, 05/22/25 | &nbsp;&nbsp; 1776 | 1762773 |
| 3.75%, 02/25/26 | &nbsp;&nbsp; 1582 | 1563037 |
| 3.81%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.420%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1885 | 1817894 |
| 3.85%, 01/26/27 | &nbsp;&nbsp; 3525 | 3460194 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.22%, 05/01/29, <br> (3-mo. CME Term SOFR + 1.563%)<sup>(c)</sup><br>| &nbsp;&nbsp; $2045 | $1996474 |
| 4.25%, 10/21/25 | &nbsp;&nbsp; 1761 | 1751045 |
| 4.39%, 06/15/27, (1-day SOFR + 1.510%)<sup>(c)</sup> | &nbsp;&nbsp; 735 | 730740 |
| 4.48%, 08/23/28, (1-day SOFR + 1.725%)<sup>(c)</sup> | &nbsp;&nbsp; 2020 | 2003485 |
| 5.70%, 11/01/24 | &nbsp;&nbsp; 1505 | 1505000 |
| 5.80%, 08/10/26, (1-day SOFR + 1.075%)<sup>(c)</sup> | &nbsp;&nbsp; 1685 | 1695546 |
| 5.95%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 755 | 774331 |
| 6.48%, 10/24/29, (1-day SOFR + 1.770%)<sup>(c)</sup> | &nbsp;&nbsp; 1840 | 1940297 |
| HSBC Holdings PLC |  |  |
| 1.59%, 05/24/27, (1-day SOFR + 1.290%)<sup>(c)</sup> | &nbsp;&nbsp; 305 | 289798 |
| 1.65%, 04/18/26, (1-day SOFR + 1.538%)<sup>(c)</sup> | &nbsp;&nbsp; 2166 | 2131275 |
| 2.01%, 09/22/28, (1-day SOFR + 1.732%)<sup>(c)</sup> | &nbsp;&nbsp; 1640 | 1510159 |
| 2.10%, 06/04/26, (1-day SOFR + 1.929%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1690 | 1659773 |
| 2.21%, 08/17/29, (1-day SOFR + 1.285%)<sup>(c)</sup> | &nbsp;&nbsp; 1445 | 1301733 |
| 2.25%, 11/22/27, (1-day SOFR + 1.100%)<sup>(c)</sup> | &nbsp;&nbsp; 700 | 663918 |
| 2.63%, 11/07/25, <br> (3-mo. CME Term SOFR + 1.402%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1765 | 1764213 |
| 3.00%, 03/10/26, (1-day SOFR + 1.430%)<sup>(c)</sup> | &nbsp;&nbsp; 785 | 778664 |
| 3.90%, 05/25/26 | &nbsp;&nbsp; 130 | 128256 |
| 4.04%, 03/13/28, <br> (3-mo. CME Term SOFR + 1.808%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2515 | 2463738 |
| 4.18%, 12/09/25, (1-day SOFR + 1.510%)<sup>(c)</sup> | &nbsp;&nbsp; 1035 | 1033568 |
| 4.25%, 08/18/25 | &nbsp;&nbsp; 1437 | 1428167 |
| 4.29%, 09/12/26, <br> (3-mo. CME Term SOFR + 1.609%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1308 | 1298987 |
| 4.30%, 03/08/26 | &nbsp;&nbsp; 100 | 99294 |
| 4.38%, 11/23/26 | &nbsp;&nbsp; 980 | 969373 |
| 4.58%, 06/19/29, <br> (3-mo. CME Term SOFR + 1.796%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2334 | 2294324 |
| 4.76%, 06/09/28, (1-day SOFR + 2.110%)<sup>(c)</sup> | &nbsp;&nbsp; 2325 | 2314566 |
| 5.21%, 08/11/28, (1-day SOFR + 2.610%)<sup>(c)</sup> | &nbsp;&nbsp; 2275 | 2288170 |
| 5.60%, 05/17/28, (1-day SOFR + 1.060%)<sup>(c)</sup> | &nbsp;&nbsp; 1515 | 1536142 |
| 5.89%, 08/14/27, (1-day SOFR + 1.570%)<sup>(c)</sup> | &nbsp;&nbsp; 2040 | 2075632 |
| 6.16%, 03/09/29, (1-day SOFR + 1.970%)<sup>(c)</sup> | &nbsp;&nbsp; 1470 | 1520466 |
| 7.34%, 11/03/26, (1-day SOFR + 3.030%)<sup>(c)</sup> | &nbsp;&nbsp; 1570 | 1606906 |
| 7.39%, 11/03/28, (1-day SOFR + 3.350%)<sup>(c)</sup> | &nbsp;&nbsp; 1205 | 1283664 |
| HSBC USA Inc. |  |  |
| 5.29%, 03/04/27 | &nbsp;&nbsp; 520 | 526846 |
| 5.63%, 03/17/25<sup>(a)</sup> | &nbsp;&nbsp; 915 | 917549 |
| Huntington Bancshares Inc./Ohio |  |  |
| 4.00%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 160 | 159312 |
| 4.44%, 08/04/28, (1-day SOFR + 1.970%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 715 | 705328 |
| 6.21%, 08/21/29, (1-day SOFR + 2.020%)<sup>(c)</sup> | &nbsp;&nbsp; 870 | 902537 |
| Huntington National Bank (The) |  |  |
| 4.55%, 05/17/28, <br> (1-day SOFR Index + 1.650%)<sup>(c)</sup><br>| &nbsp;&nbsp; 470 | 466130 |
| 5.70%, 11/18/25, (1-day SOFR + 1.215%)<sup>(c)</sup> | &nbsp;&nbsp; 430 | 430004 |
| ING Groep NV |  |  |
| 1.73%, 04/01/27, (1-day SOFR + 1.005%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 420 | 401583 |
| 3.87%, 03/28/26, (1-day SOFR + 1.640%)<sup>(c)</sup> | &nbsp;&nbsp; 815 | 810383 |
| 3.95%, 03/29/27 | &nbsp;&nbsp; 945 | 926005 |
| 4.02%, 03/28/28, (1-day SOFR + 1.830%)<sup>(c)</sup> | &nbsp;&nbsp; 785 | 768443 |
| 4.05%, 04/09/29<sup>(a)</sup> | &nbsp;&nbsp; 780 | 754618 |
| 4.55%, 10/02/28 | &nbsp;&nbsp; 990 | 977683 |
| 6.08%, 09/11/27, (1-day SOFR + 1.560%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 655 | 669253 |
| JPMorgan Chase & Co. |  |  |
| 1.04%, 02/04/27, <br> (3-mo. CME Term SOFR + 0.695%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1378 | 1313919 |
| 1.05%, 11/19/26, (1-day SOFR + 0.800%)<sup>(c)</sup> | &nbsp;&nbsp; 2365 | 2272441 |
| 1.47%, 09/22/27, (1-day SOFR + 0.765%)<sup>(c)</sup> | &nbsp;&nbsp; 2520 | 2369538 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 1.56%, 12/10/25, (1-day SOFR + 0.605%)<sup>(c)</sup> | &nbsp;&nbsp; $1715 | $1707928 |
| 1.58%, 04/22/27, (1-day SOFR + 0.885%)<sup>(c)</sup> | &nbsp;&nbsp; 2795 | 2666069 |
| 2.01%, 03/13/26, <br> (3-mo. CME Term SOFR + 1.585%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1872 | 1850735 |
| 2.07%, 06/01/29, (1-day SOFR + 1.015%)<sup>(c)</sup> | &nbsp;&nbsp; 1270 | 1154093 |
| 2.08%, 04/22/26, (1-day SOFR + 1.850%)<sup>(c)</sup> | &nbsp;&nbsp; 2702 | 2662871 |
| 2.18%, 06/01/28, (1-day SOFR + 1.890%)<sup>(c)</sup> | &nbsp;&nbsp; 1485 | 1390312 |
| 2.60%, 02/24/26, (1-day SOFR + 0.915%)<sup>(c)</sup> | &nbsp;&nbsp; 1220 | 1210468 |
| 2.95%, 10/01/26 | &nbsp;&nbsp; 1755 | 1703964 |
| 2.95%, 02/24/28, (1-day SOFR + 1.170%)<sup>(c)</sup> | &nbsp;&nbsp; 1660 | 1593340 |
| 3.13%, 01/23/25 | &nbsp;&nbsp; 1814 | 1808510 |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 1685 | 1650161 |
| 3.30%, 04/01/26 | &nbsp;&nbsp; 2360 | 2316527 |
| 3.51%, 01/23/29, <br> (3-mo. CME Term SOFR + 1.207%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1873 | 1800261 |
| 3.54%, 05/01/28, <br> (3-mo. CME Term SOFR + 1.642%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2225 | 2159630 |
| 3.63%, 12/01/27 | &nbsp;&nbsp; 1220 | 1179301 |
| 3.78%, 02/01/28, <br> (3-mo. CME Term SOFR + 1.599%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2395 | 2343417 |
| 3.90%, 07/15/25 | &nbsp;&nbsp; 2075 | 2066023 |
| 3.96%, 01/29/27, <br> (3-mo. CME Term SOFR + 1.507%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1585 | 1567726 |
| 4.01%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.382%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1230 | 1196472 |
| 4.08%, 04/26/26, (1-day SOFR + 1.320%)<sup>(c)</sup> | &nbsp;&nbsp; 2352 | 2340342 |
| 4.13%, 12/15/26 | &nbsp;&nbsp; 1220 | 1206614 |
| 4.20%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.522%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1935 | 1891579 |
| 4.25%, 10/01/27 | &nbsp;&nbsp; 685 | 678490 |
| 4.32%, 04/26/28, (1-day SOFR + 1.560%)<sup>(c)</sup> | &nbsp;&nbsp; 2485 | 2457885 |
| 4.51%, 10/22/28, (1-day SOFR + 0.860%)<sup>(c)</sup> | &nbsp;&nbsp; 920 | 912925 |
| 4.85%, 07/25/28, (1-day SOFR + 1.990%)<sup>(c)</sup> | &nbsp;&nbsp; 2835 | 2836824 |
| 4.98%, 07/22/28, (1-day SOFR + 0.930%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 490 | 492291 |
| 5.04%, 01/23/28, (1-day SOFR + 1.190%)<sup>(c)</sup> | &nbsp;&nbsp; 1025 | 1029969 |
| 5.30%, 07/24/29, (1-day SOFR + 1.450%)<sup>(c)</sup> | &nbsp;&nbsp; 1960 | 1988478 |
| 5.55%, 12/15/25, (1-day SOFR + 1.070%)<sup>(c)</sup> | &nbsp;&nbsp; 2255 | 2255490 |
| 5.57%, 04/22/28, (1-day SOFR + 0.930%)<sup>(c)</sup> | &nbsp;&nbsp; 1865 | 1896862 |
| 6.07%, 10/22/27, (1-day SOFR + 1.330%)<sup>(c)</sup> | &nbsp;&nbsp; 1515 | 1552164 |
| 6.09%, 10/23/29, (1-day SOFR + 1.570%)<sup>(c)</sup> | &nbsp;&nbsp; 1355 | 1412832 |
| 7.63%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 340 | 359265 |
| 8.00%, 04/29/27<sup>(a)</sup> | &nbsp;&nbsp; 810 | 876860 |
| JPMorgan Chase Bank NA, 5.11%, 12/08/26 | &nbsp;&nbsp; 1420 | 1436373 |
| KeyBank NA, 4.70%, 01/26/26 | &nbsp;&nbsp; 290 | 288842 |
| KeyBank NA/Cleveland OH |  |  |
| 3.30%, 06/01/25 | &nbsp;&nbsp; 455 | 449969 |
| 3.40%, 05/20/26 | &nbsp;&nbsp; 250 | 242698 |
| 4.15%, 08/08/25 | &nbsp;&nbsp; 790 | 785343 |
| 5.85%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 690 | 706909 |
| KeyCorp |  |  |
| 2.25%, 04/06/27 | &nbsp;&nbsp; 460 | 432086 |
| 2.55%, 10/01/29 | &nbsp;&nbsp; 525 | 466930 |
| 4.10%, 04/30/28 | &nbsp;&nbsp; 500 | 485106 |
| 4.15%, 10/29/25 | &nbsp;&nbsp; 240 | 238435 |
| Lloyds Banking Group PLC |  |  |
| 1.63%, 05/11/27, (1-year CMT + 0.850%)<sup>(c)</sup> | &nbsp;&nbsp; 725 | 689857 |
| 2.44%, 02/05/26, (1-year CMT + 1.000%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 506 | 502174 |
| 3.51%, 03/18/26, (1-year CMT + 1.600%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 695 | 690097 |
| 3.57%, 11/07/28, <br> (3-mo. LIBOR US + 1.205%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1440 | 1385304 |
| 3.75%, 01/11/27<sup>(a)</sup> | &nbsp;&nbsp; 835 | 816854 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.75%, 03/18/28, (1-year CMT + 1.800%)<sup>(c)</sup> | &nbsp;&nbsp; $640 | $622943 |
| 4.38%, 03/22/28 | &nbsp;&nbsp; 1205 | 1183528 |
| 4.45%, 05/08/25<sup>(a)</sup> | &nbsp;&nbsp; 1180 | 1177382 |
| 4.50%, 11/04/24 | &nbsp;&nbsp; 717 | 716920 |
| 4.55%, 08/16/28 | &nbsp;&nbsp; 1040 | 1027384 |
| 4.58%, 12/10/25 | &nbsp;&nbsp; 1078 | 1070058 |
| 4.65%, 03/24/26 | &nbsp;&nbsp; 1092 | 1084212 |
| 4.72%, 08/11/26, (1-year CMT + 1.750%)<sup>(c)</sup> | &nbsp;&nbsp; 880 | 876737 |
| 5.46%, 01/05/28, (1-year CMT + 1.375%)<sup>(c)</sup> | &nbsp;&nbsp; 855 | 865046 |
| 5.87%, 03/06/29, (1-year CMT + 1.700%)<sup>(c)</sup> | &nbsp;&nbsp; 980 | 1005464 |
| 5.99%, 08/07/27, (1-year CMT + 1.480%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 740 | 753419 |
| M&T Bank Corp. |  |  |
| 4.55%, 08/16/28, <br> (1-day SOFR Index + 1.780%)<sup>(c)</sup><br>| &nbsp;&nbsp; 150 | 148295 |
| 7.41%, 10/30/29, (1-day SOFR + 2.800%)<sup>(c)</sup> | &nbsp;&nbsp; 730 | 785711 |
| Manufacturers & Traders Trust Co. |  |  |
| 2.90%, 02/06/25 | &nbsp;&nbsp; 280 | 278141 |
| 3.40%, 08/17/27 | &nbsp;&nbsp; 250 | 239588 |
| 4.65%, 01/27/26 | &nbsp;&nbsp; 565 | 562713 |
| 4.70%, 01/27/28 | &nbsp;&nbsp; 1085 | 1074710 |
| 5.40%, 11/21/25 | &nbsp;&nbsp; 250 | 251325 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 1.41%, 07/17/25 | &nbsp;&nbsp; 1309 | 1278913 |
| 1.54%, 07/20/27, (1-year CMT + 0.750%)<sup>(c)</sup> | &nbsp;&nbsp; 1540 | 1459019 |
| 1.64%, 10/13/27, (1-year CMT + 0.670%)<sup>(c)</sup> | &nbsp;&nbsp; 1135 | 1070063 |
| 2.19%, 02/25/25 | &nbsp;&nbsp; 2127 | 2109173 |
| 2.34%, 01/19/28, (1-year CMT + 0.830%)<sup>(c)</sup> | &nbsp;&nbsp; 1105 | 1047105 |
| 2.76%, 09/13/26 | &nbsp;&nbsp; 177 | 171164 |
| 3.20%, 07/18/29 | &nbsp;&nbsp; 1240 | 1156085 |
| 3.29%, 07/25/27<sup>(a)</sup> | &nbsp;&nbsp; 865 | 838530 |
| 3.68%, 02/22/27 | &nbsp;&nbsp; 365 | 358138 |
| 3.74%, 03/07/29 | &nbsp;&nbsp; 1135 | 1095307 |
| 3.78%, 03/02/25<sup>(a)</sup> | &nbsp;&nbsp; 641 | 638451 |
| 3.84%, 04/17/26, (1-year CMT + 1.125%)<sup>(c)</sup> | &nbsp;&nbsp; 445 | 442310 |
| 3.85%, 03/01/26 | &nbsp;&nbsp; 1916 | 1895230 |
| 3.96%, 03/02/28 | &nbsp;&nbsp; 1055 | 1034536 |
| 4.05%, 09/11/28<sup>(a)</sup> | &nbsp;&nbsp; 855 | 838678 |
| 4.08%, 04/19/28, (1-year CMT + 1.300%)<sup>(c)</sup> | &nbsp;&nbsp; 795 | 781824 |
| 5.02%, 07/20/28, (1-year CMT + 1.950%)<sup>(c)</sup> | &nbsp;&nbsp; 1040 | 1047208 |
| 5.24%, 04/19/29, (1-year CMT + 1.700%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 505 | 512568 |
| 5.35%, 09/13/28, (1-year CMT + 1.900%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1030 | 1047579 |
| 5.42%, 02/22/29, (1-year CMT + 1.380%)<sup>(c)</sup> | &nbsp;&nbsp; 580 | 591081 |
| 5.54%, 04/17/26, (1-year CMT + 1.500%)<sup>(c)</sup> | &nbsp;&nbsp; 380 | 380733 |
| 5.72%, 02/20/26, (1-year CMT + 1.080%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1255 | 1256952 |
| Mizuho Financial Group Inc. |  |  |
| 1.23%, 05/22/27, (1-year CMT + 0.670%)<sup>(c)</sup> | &nbsp;&nbsp; 800 | 757238 |
| 1.55%, 07/09/27, (1-year CMT + 0.750%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 577 | 546436 |
| 2.23%, 05/25/26, <br> (3-mo. CME Term SOFR + 1.092%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 530 | 521557 |
| 2.65%, 05/22/26, (1-year CMT + 0.900%)<sup>(c)</sup> | &nbsp;&nbsp; 230 | 226694 |
| 2.84%, 09/13/26<sup>(a)</sup> | &nbsp;&nbsp; 575 | 556432 |
| 3.17%, 09/11/27 | &nbsp;&nbsp; 740 | 708504 |
| 3.66%, 02/28/27 | &nbsp;&nbsp; 230 | 224688 |
| 4.02%, 03/05/28 | &nbsp;&nbsp; 960 | 939108 |
| 4.25%, 09/11/29, <br> (3-mo. CME Term SOFR + 1.532%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 645 | 630016 |
| 5.41%, 09/13/28, (1-year CMT + 2.050%)<sup>(c)</sup> | &nbsp;&nbsp; 1090 | 1107770 |
| 5.67%, 05/27/29, (1-year CMT + 1.500%)<sup>(c)</sup> | &nbsp;&nbsp; 755 | 773620 |
| 5.78%, 07/06/29, (1-year CMT + 1.650%)<sup>(c)</sup> | &nbsp;&nbsp; 1000 | 1027298 |
| Morgan Stanley |  |  |
| 0.99%, 12/10/26, (1-day SOFR + 0.720%)<sup>(c)</sup> | &nbsp;&nbsp; 2225 | 2131740 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 1.51%, 07/20/27, (1-day SOFR + 0.858%)<sup>(c)</sup> | &nbsp;&nbsp; $2670 | $2525746 |
| 1.59%, 05/04/27, (1-day SOFR + 0.879%)<sup>(c)</sup> | &nbsp;&nbsp; 3220 | 3068428 |
| 2.19%, 04/28/26, (1-day SOFR + 1.990%)<sup>(c)</sup> | &nbsp;&nbsp; 1872 | 1844877 |
| 2.48%, 01/21/28, (1-day SOFR + 1.000%)<sup>(c)</sup> | &nbsp;&nbsp; 2160 | 2054838 |
| 2.63%, 02/18/26, (1-day SOFR + 0.940%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1140 | 1131007 |
| 3.13%, 07/27/26 | &nbsp;&nbsp; 2500 | 2437746 |
| 3.59%, 07/22/28<sup>(c)</sup> | &nbsp;&nbsp; 2655 | 2571923 |
| 3.63%, 01/20/27 | &nbsp;&nbsp; 2630 | 2580330 |
| 3.77%, 01/24/29, <br> (3-mo. CME Term SOFR + 1.402%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2505 | 2423632 |
| 3.88%, 01/27/26 | &nbsp;&nbsp; 2595 | 2570202 |
| 3.95%, 04/23/27 | &nbsp;&nbsp; 1512 | 1484352 |
| 4.00%, 07/23/25 | &nbsp;&nbsp; 2274 | 2264059 |
| 4.21%, 04/20/28, (1-day SOFR + 1.610%)<sup>(c)</sup> | &nbsp;&nbsp; 2345 | 2314884 |
| 4.35%, 09/08/26 | &nbsp;&nbsp; 2255 | 2239140 |
| 4.68%, 07/17/26, (1-day SOFR + 1.669%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1520 | 1515350 |
| 5.00%, 11/24/25 | &nbsp;&nbsp; 2015 | 2018369 |
| 5.05%, 01/28/27, (1-day SOFR + 1.295%)<sup>(c)</sup> | &nbsp;&nbsp; 745 | 747240 |
| 5.12%, 02/01/29, (1-day SOFR + 1.730%)<sup>(c)</sup> | &nbsp;&nbsp; 1145 | 1153346 |
| 5.16%, 04/20/29, (1-day SOFR + 1.590%)<sup>(c)</sup> | &nbsp;&nbsp; 1580 | 1591851 |
| 5.45%, 07/20/29, (1-day SOFR + 1.630%)<sup>(c)</sup> | &nbsp;&nbsp; 1500 | 1527022 |
| 5.65%, 04/13/28, (1-day SOFR +1.010%)<sup>(c)</sup> | &nbsp;&nbsp; 1525 | 1553064 |
| 6.14%, 10/16/26, (1-day SOFR + 1.770%)<sup>(c)</sup> | &nbsp;&nbsp; 430 | 434738 |
| 6.25%, 08/09/26<sup>(a)</sup> | &nbsp;&nbsp; 860 | 883492 |
| 6.30%, 10/18/28, (1-day SOFR + 2.240%)<sup>(c)</sup> | &nbsp;&nbsp; 2075 | 2160434 |
| Morgan Stanley Bank NA |  |  |
| 4.45%, 10/15/27, (1-day SOFR + 0.680%)<sup>(c)</sup> | &nbsp;&nbsp; 2000 | 1988123 |
| 4.75%, 04/21/26 | &nbsp;&nbsp; 1120 | 1123826 |
| 4.95%, 01/14/28, (1-day SOFR + 1.080%)<sup>(c)</sup> | &nbsp;&nbsp; 1275 | 1279912 |
| 4.97%, 07/14/28, (1-day SOFR +0.930%)<sup>(c)</sup> | &nbsp;&nbsp; 605 | 608405 |
| 5.48%, 07/16/25 | &nbsp;&nbsp; 865 | 870549 |
| 5.50%, 05/26/28, (1-day SOFR +0.865%)<sup>(c)</sup> | &nbsp;&nbsp; 1400 | 1423522 |
| 5.88%, 10/30/26 | &nbsp;&nbsp; 1610 | 1649021 |
| National Australia Bank Ltd./New York |  |  |
| 2.50%, 07/12/26 | &nbsp;&nbsp; 545 | 527959 |
| 3.38%, 01/14/26 | &nbsp;&nbsp; 445 | 439292 |
| 3.50%, 06/09/25 | &nbsp;&nbsp; 510 | 507216 |
| 3.91%, 06/09/27 | &nbsp;&nbsp; 795 | 785265 |
| 4.75%, 12/10/25 | &nbsp;&nbsp; 575 | 576405 |
| 4.79%, 01/10/29 | &nbsp;&nbsp; 640 | 645982 |
| 4.90%, 06/13/28<sup>(a)</sup> | &nbsp;&nbsp; 860 | 867133 |
| 4.94%, 01/12/28 | &nbsp;&nbsp; 860 | 869254 |
| 4.97%, 01/12/26 | &nbsp;&nbsp; 780 | 783455 |
| 5.09%, 06/11/27 | &nbsp;&nbsp; 505 | 512903 |
| 5.13%, 11/22/24 | &nbsp;&nbsp; 840 | 839968 |
| 5.20%, 05/13/25 | &nbsp;&nbsp; 275 | 275604 |
| National Bank of Canada |  |  |
| 4.50%, 10/10/29 | &nbsp;&nbsp; 490 | 479403 |
| 5.25%, 01/17/25 | &nbsp;&nbsp; 250 | 250366 |
| 5.60%, 07/02/27, (1-day SOFR +1.036%)<sup>(c)</sup> | &nbsp;&nbsp; 250 | 252870 |
| 5.60%, 12/18/28 | &nbsp;&nbsp; 720 | 739767 |
| NatWest Group PLC |  |  |
| 1.64%, 06/14/27, (1-year CMT + 0.900%)<sup>(c)</sup> | &nbsp;&nbsp; 915 | 868660 |
| 3.07%, 05/22/28, (1-year CMT + 2.550%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 525 | 502521 |
| 4.80%, 04/05/26 | &nbsp;&nbsp; 1048 | 1047420 |
| 4.89%, 05/18/29, <br> (3-mo. LIBOR US + 1.754%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1370 | 1360712 |
| 5.52%, 09/30/28, (1-year CMT + 2.270%)<sup>(c)</sup> | &nbsp;&nbsp; 680 | 690061 |
| 5.58%, 03/01/28, (1-year CMT + 1.100%)<sup>(c)</sup> | &nbsp;&nbsp; 640 | 649276 |
| 5.81%, 09/13/29, (1-year CMT + 1.950%)<sup>(c)</sup> | &nbsp;&nbsp; 920 | 943165 |
| 5.85%, 03/02/27, (1-year CMT + 1.350%)<sup>(c)</sup> | &nbsp;&nbsp; 465 | 470477 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 7.47%, 11/10/26, (1-year CMT + 2.850%)<sup>(c)</sup> | &nbsp;&nbsp; $1090 | $1115924 |
| Northern Trust Corp. |  |  |
| 3.15%, 05/03/29 | &nbsp;&nbsp; 420 | 396153 |
| 3.65%, 08/03/28<sup>(a)</sup> | &nbsp;&nbsp; 235 | 228049 |
| 4.00%, 05/10/27 | &nbsp;&nbsp; 295 | 291973 |
| PNC Bank NA |  |  |
| 2.70%, 10/22/29 | &nbsp;&nbsp; 530 | 474467 |
| 2.95%, 02/23/25 | &nbsp;&nbsp; 380 | 377490 |
| 3.10%, 10/25/27 | &nbsp;&nbsp; 755 | 723959 |
| 3.25%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 557 | 552276 |
| 3.25%, 01/22/28<sup>(a)</sup> | &nbsp;&nbsp; 515 | 491057 |
| 3.88%, 04/10/25 | &nbsp;&nbsp; 370 | 368599 |
| 4.05%, 07/26/28 | &nbsp;&nbsp; 1040 | 1013505 |
| 4.20%, 11/01/25 | &nbsp;&nbsp; 250 | 248772 |
| PNC Financial Services Group Inc. (The) |  |  |
| 1.15%, 08/13/26 | &nbsp;&nbsp; 275 | 258777 |
| 2.20%, 11/01/24 | &nbsp;&nbsp; 418 | 418000 |
| 2.60%, 07/23/26 | &nbsp;&nbsp; 525 | 507559 |
| 3.15%, 05/19/27 | &nbsp;&nbsp; 365 | 351928 |
| 3.45%, 04/23/29 | &nbsp;&nbsp; 1160 | 1101198 |
| 4.76%, 01/26/27, <br> (1-day SOFR Index + 1.085%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1185 | 1182859 |
| 5.10%, 07/23/27, (1-day SOFR +0.796%)<sup>(c)</sup> | &nbsp;&nbsp; 965 | 971359 |
| 5.30%, 01/21/28, (1-day SOFR + 1.342%)<sup>(c)</sup> | &nbsp;&nbsp; 580 | 586378 |
| 5.35%, 12/02/28, (1-day SOFR + 1.620%)<sup>(c)</sup> | &nbsp;&nbsp; 820 | 832241 |
| 5.58%, 06/12/29, (1-day SOFR + 1.841%)<sup>(c)</sup> | &nbsp;&nbsp; 1915 | 1955882 |
| 5.81%, 06/12/26, (1-day SOFR + 1.322%)<sup>(c)</sup> | &nbsp;&nbsp; 602 | 604718 |
| 6.62%, 10/20/27, <br> (1-day SOFR Index + 1.730%)<sup>(c)</sup><br>| &nbsp;&nbsp; 720 | 745411 |
| Regions Financial Corp. |  |  |
| 1.80%, 08/12/28 | &nbsp;&nbsp; 360 | 321420 |
| 2.25%, 05/18/25 | &nbsp;&nbsp; 89 | 87647 |
| Royal Bank of Canada |  |  |
| 0.88%, 01/20/26 | &nbsp;&nbsp; 894 | 855620 |
| 1.15%, 06/10/25 | &nbsp;&nbsp; 1086 | 1063865 |
| 1.15%, 07/14/26 | &nbsp;&nbsp; 752 | 712208 |
| 1.20%, 04/27/26 | &nbsp;&nbsp; 1267 | 1206363 |
| 1.40%, 11/02/26 | &nbsp;&nbsp; 690 | 649371 |
| 1.60%, 01/21/25 | &nbsp;&nbsp; 600 | 595567 |
| 2.05%, 01/21/27 | &nbsp;&nbsp; 349 | 331096 |
| 2.25%, 11/01/24 | &nbsp;&nbsp; 1179 | 1179000 |
| 3.38%, 04/14/25 | &nbsp;&nbsp; 940 | 935426 |
| 3.63%, 05/04/27 | &nbsp;&nbsp; 880 | 861010 |
| 4.24%, 08/03/27 | &nbsp;&nbsp; 980 | 971517 |
| 4.51%, 10/18/27, <br> (1-day SOFR Index + 0.720%)<sup>(c)</sup><br>| &nbsp;&nbsp; 435 | 433567 |
| 4.52%, 10/18/28, <br> (1-day SOFR Index + 0.860%)<sup>(c)</sup><br>| &nbsp;&nbsp; 435 | 432708 |
| 4.65%, 01/27/26 | &nbsp;&nbsp; 1054 | 1049866 |
| 4.88%, 01/12/26 | &nbsp;&nbsp; 765 | 768054 |
| 4.88%, 01/19/27 | &nbsp;&nbsp; 690 | 695144 |
| 4.90%, 01/12/28 | &nbsp;&nbsp; 675 | 679749 |
| 4.95%, 04/25/25 | &nbsp;&nbsp; 1055 | 1057393 |
| 4.95%, 02/01/29 | &nbsp;&nbsp; 810 | 817335 |
| 5.07%, 07/23/27, (1-day SOFR +0.790%)<sup>(c)</sup> | &nbsp;&nbsp; 850 | 854974 |
| 5.20%, 07/20/26 | &nbsp;&nbsp; 725 | 733760 |
| 5.20%, 08/01/28 | &nbsp;&nbsp; 860 | 873816 |
| 6.00%, 11/01/27 | &nbsp;&nbsp; 1135 | 1179229 |
| Santander Holdings USA Inc. |  |  |
| 2.49%, 01/06/28, (1-day SOFR + 1.249%)<sup>(c)</sup> | &nbsp;&nbsp; 705 | 664513 |
| 3.24%, 10/05/26 | &nbsp;&nbsp; 505 | 487654 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.45%, 06/02/25 | &nbsp;&nbsp; $658 | $651926 |
| 4.40%, 07/13/27 | &nbsp;&nbsp; 780 | 769092 |
| 4.50%, 07/17/25 | &nbsp;&nbsp; 716 | 713962 |
| 5.81%, 09/09/26, (1-day SOFR + 2.328%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 315 | 316068 |
| 6.12%, 05/31/27, (1-day SOFR +1.232%)<sup>(c)</sup> | &nbsp;&nbsp; 230 | 233585 |
| 6.50%, 03/09/29, (1-day SOFR + 2.356%)<sup>(c)</sup> | &nbsp;&nbsp; 780 | 804343 |
| 6.57%, 06/12/29, (1-day SOFR + 2.700%)<sup>(c)</sup> | &nbsp;&nbsp; 405 | 419378 |
| Santander U.K. Group Holdings PLC |  |  |
| 1.53%, 08/21/26, (1-year CMT + 1.250%)<sup>(c)</sup> | &nbsp;&nbsp; 417 | 404448 |
| 1.67%, 06/14/27, (1-day SOFR + 0.989%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 560 | 530243 |
| 2.47%, 01/11/28, (1-day SOFR + 1.220%)<sup>(c)</sup> | &nbsp;&nbsp; 1088 | 1025498 |
| 3.82%, 11/03/28, <br> (3-mo. LIBOR US + 1.400%)<sup>(c)</sup><br>| &nbsp;&nbsp; 715 | 689039 |
| 6.53%, 01/10/29, (1-day SOFR + 2.600%)<sup>(c)</sup> | &nbsp;&nbsp; 940 | 977789 |
| 6.83%, 11/21/26, (1-day SOFR + 2.749%)<sup>(c)</sup> | &nbsp;&nbsp; 595 | 604581 |
| State Street Corp. |  |  |
| 3.30%, 12/16/24 | &nbsp;&nbsp; 468 | 466969 |
| 3.55%, 08/18/25<sup>(a)</sup> | &nbsp;&nbsp; 246 | 244417 |
| 4.33%, 10/22/27 | &nbsp;&nbsp; 650 | 645849 |
| 4.99%, 03/18/27 | &nbsp;&nbsp; 500 | 504494 |
| 5.27%, 08/03/26 | &nbsp;&nbsp; 740 | 749293 |
| Sumitomo Mitsui Banking Corp., 3.65%, 07/23/25 | &nbsp;&nbsp; 150 | 148797 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 0.95%, 01/12/26 | &nbsp;&nbsp; 789 | 754129 |
| 1.40%, 09/17/26 | &nbsp;&nbsp; 1465 | 1380495 |
| 1.47%, 07/08/25 | &nbsp;&nbsp; 1865 | 1824413 |
| 1.90%, 09/17/28 | &nbsp;&nbsp; 1645 | 1477126 |
| 2.17%, 01/14/27 | &nbsp;&nbsp; 325 | 307730 |
| 2.35%, 01/15/25 | &nbsp;&nbsp; 649 | 645460 |
| 2.47%, 01/14/29 | &nbsp;&nbsp; 200 | 182452 |
| 2.63%, 07/14/26<sup>(a)</sup> | &nbsp;&nbsp; 1680 | 1625498 |
| 2.72%, 09/27/29 | &nbsp;&nbsp; 55 | 49843 |
| 3.01%, 10/19/26 | &nbsp;&nbsp; 1130 | 1095598 |
| 3.04%, 07/16/29<sup>(a)</sup> | &nbsp;&nbsp; 1840 | 1699586 |
| 3.20%, 09/17/29<sup>(a)</sup> | &nbsp;&nbsp; 515 | 475463 |
| 3.35%, 10/18/27 | &nbsp;&nbsp; 495 | 476988 |
| 3.36%, 07/12/27 | &nbsp;&nbsp; 1285 | 1247243 |
| 3.45%, 01/11/27 | &nbsp;&nbsp; 930 | 906104 |
| 3.54%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; 720 | 693920 |
| 3.78%, 03/09/26 | &nbsp;&nbsp; 1145 | 1131889 |
| 3.94%, 07/19/28<sup>(a)</sup> | &nbsp;&nbsp; 510 | 496667 |
| 4.31%, 10/16/28<sup>(a)</sup> | &nbsp;&nbsp; 515 | 508433 |
| 5.32%, 07/09/29<sup>(a)</sup> | &nbsp;&nbsp; 680 | 693639 |
| 5.46%, 01/13/26 | &nbsp;&nbsp; 1230 | 1240389 |
| 5.52%, 01/13/28 | &nbsp;&nbsp; 1515 | 1548281 |
| 5.72%, 09/14/28<sup>(a)</sup> | &nbsp;&nbsp; 980 | 1009972 |
| 5.80%, 07/13/28 | &nbsp;&nbsp; 588 | 607736 |
| 5.88%, 07/13/26 | &nbsp;&nbsp; 620 | 632026 |
| Synchrony Bank |  |  |
| 5.40%, 08/22/25 | &nbsp;&nbsp; 400 | 400257 |
| 5.63%, 08/23/27 | &nbsp;&nbsp; 260 | 261899 |
| Toronto-Dominion Bank (The) |  |  |
| 0.75%, 09/11/25<sup>(a)</sup> | &nbsp;&nbsp; 755 | 730444 |
| 0.75%, 01/06/26 | &nbsp;&nbsp; 904 | 862660 |
| 1.15%, 06/12/25 | &nbsp;&nbsp; 761 | 744324 |
| 1.20%, 06/03/26 | &nbsp;&nbsp; 900 | 851590 |
| 1.25%, 12/13/24 | &nbsp;&nbsp; 335 | 333753 |
| 1.25%, 09/10/26 | &nbsp;&nbsp; 1010 | 950093 |
| 1.45%, 01/10/25<sup>(a)</sup> | &nbsp;&nbsp; 555 | 551055 |
| 1.95%, 01/12/27<sup>(a)</sup> | &nbsp;&nbsp; 480 | 453919 |
| 2.80%, 03/10/27 | &nbsp;&nbsp; 820 | 785575 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.77%, 06/06/25 | &nbsp;&nbsp; $1240 | $1234515 |
| 4.11%, 06/08/27 | &nbsp;&nbsp; 1115 | 1098936 |
| 4.69%, 09/15/27 | &nbsp;&nbsp; 1240 | 1237561 |
| 4.98%, 04/05/27<sup>(a)</sup> | &nbsp;&nbsp; 610 | 615187 |
| 4.99%, 04/05/29 | &nbsp;&nbsp; 655 | 658038 |
| 5.10%, 01/09/26 | &nbsp;&nbsp; 475 | 476761 |
| 5.16%, 01/10/28 | &nbsp;&nbsp; 1015 | 1024921 |
| 5.26%, 12/11/26 | &nbsp;&nbsp; 430 | 435452 |
| 5.52%, 07/17/28 | &nbsp;&nbsp; 1030 | 1054190 |
| 5.53%, 07/17/26 | &nbsp;&nbsp; 1215 | 1233420 |
| Truist Bank |  |  |
| 1.50%, 03/10/25 | &nbsp;&nbsp; 1100 | 1086990 |
| 2.15%, 12/06/24 | &nbsp;&nbsp; 942 | 939302 |
| 3.30%, 05/15/26 | &nbsp;&nbsp; 450 | 439340 |
| 3.63%, 09/16/25 | &nbsp;&nbsp; 890 | 881096 |
| 3.80%, 10/30/26 | &nbsp;&nbsp; 490 | 479459 |
| 4.05%, 11/03/25 | &nbsp;&nbsp; 373 | 370041 |
| 4.63%, 09/17/29, (5-year CMT + 1.150%)<sup>(c)</sup> | &nbsp;&nbsp; 515 | 500142 |
| Truist Financial Corp. |  |  |
| 1.13%, 08/03/27 | &nbsp;&nbsp; 420 | 381511 |
| 1.20%, 08/05/25<sup>(a)</sup> | &nbsp;&nbsp; 735 | 715694 |
| 1.27%, 03/02/27, (1-day SOFR + 0.609%)<sup>(c)</sup> | &nbsp;&nbsp; 938 | 894484 |
| 1.89%, 06/07/29, (1-day SOFR + 0.862%)<sup>(c)</sup> | &nbsp;&nbsp; 710 | 638345 |
| 3.70%, 06/05/25<sup>(a)</sup> | &nbsp;&nbsp; 872 | 866449 |
| 3.88%, 03/19/29 | &nbsp;&nbsp; 515 | 490313 |
| 4.00%, 05/01/25 | &nbsp;&nbsp; 722 | 719301 |
| 4.12%, 06/06/28, (1-day SOFR + 1.368%)<sup>(c)</sup> | &nbsp;&nbsp; 480 | 471777 |
| 4.26%, 07/28/26, (1-day SOFR + 1.456%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1150 | 1142753 |
| 4.87%, 01/26/29, (1-day SOFR + 1.435%)<sup>(c)</sup> | &nbsp;&nbsp; 1105 | 1099913 |
| 5.90%, 10/28/26, (1-day SOFR + 1.626%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 515 | 519606 |
| 6.05%, 06/08/27, (1-day SOFR + 2.050%)<sup>(c)</sup> | &nbsp;&nbsp; 790 | 804451 |
| 7.16%, 10/30/29, (1-day SOFR + 2.446%)<sup>(c)</sup> | &nbsp;&nbsp; 1183 | 1266539 |
| U.S. Bancorp |  |  |
| 1.45%, 05/12/25<sup>(a)</sup> | &nbsp;&nbsp; 950 | 933886 |
| 2.22%, 01/27/28, (1-day SOFR + 0.730%)<sup>(c)</sup> | &nbsp;&nbsp; 835 | 789858 |
| 3.00%, 07/30/29 | &nbsp;&nbsp; 780 | 715638 |
| 3.10%, 04/27/26 | &nbsp;&nbsp; 535 | 522130 |
| 3.90%, 04/26/28 | &nbsp;&nbsp; 750 | 727348 |
| 3.95%, 11/17/25 | &nbsp;&nbsp; 380 | 377393 |
| 4.55%, 07/22/28, (1-day SOFR + 1.660%)<sup>(c)</sup> | &nbsp;&nbsp; 1255 | 1246890 |
| 4.65%, 02/01/29, (1-day SOFR + 1.230%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 1230 | 1222547 |
| 5.73%, 10/21/26, (1-day SOFR + 1.430%)<sup>(c)</sup> | &nbsp;&nbsp; 950 | 957428 |
| 5.78%, 06/12/29, (1-day SOFR + 2.020%)<sup>(c)</sup> | &nbsp;&nbsp; 1335 | 1372530 |
| 6.79%, 10/26/27, (1-day SOFR + 1.880%)<sup>(c)</sup> | &nbsp;&nbsp; 600 | 619560 |
| Series V, 2.38%, 07/22/26 | &nbsp;&nbsp; 804 | 776187 |
| Series X, 3.15%, 04/27/27 | &nbsp;&nbsp; 1020 | 987878 |
| U.S. Bank NA/Cincinnati OH |  |  |
| 2.05%, 01/21/25<sup>(a)</sup> | &nbsp;&nbsp; 476 | 472819 |
| 2.80%, 01/27/25 | &nbsp;&nbsp; 623 | 620287 |
| UBS AG/London |  |  |
| 1.25%, 06/01/26 | &nbsp;&nbsp; 685 | 650257 |
| 5.65%, 09/11/28 | &nbsp;&nbsp; 1190 | 1225136 |
| 5.80%, 09/11/25 | &nbsp;&nbsp; 560 | 566815 |
| UBS AG/Stamford CT |  |  |
| 1.25%, 08/07/26 | &nbsp;&nbsp; 670 | 632109 |
| 2.95%, 04/09/25 | &nbsp;&nbsp; 861 | 853762 |
| 3.70%, 02/21/25 | &nbsp;&nbsp; 1470 | 1464747 |
| 5.00%, 07/09/27 | &nbsp;&nbsp; 666 | 671717 |
| 7.50%, 02/15/28 | &nbsp;&nbsp; 2138 | 2305261 |
| 7.95%, 01/09/25 | &nbsp;&nbsp; 900 | 904718 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| UBS Group AG |  |  |
| 3.75%, 03/26/25 | &nbsp;&nbsp; $1459 | $1452778 |
| 4.55%, 04/17/26 | &nbsp;&nbsp; 1170 | 1164835 |
| Wells Fargo & Co. |  |  |
| 2.16%, 02/11/26, <br> (3-mo. CME Term SOFR + 1.012%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 2246 | 2225610 |
| 2.19%, 04/30/26, (1-day SOFR + 2.000%)<sup>(c)</sup> | &nbsp;&nbsp; 2283 | 2249511 |
| 2.39%, 06/02/28, (1-day SOFR + 2.100%)<sup>(c)</sup> | &nbsp;&nbsp; 2975 | 2797942 |
| 3.00%, 02/19/25 | &nbsp;&nbsp; 1986 | 1972127 |
| 3.00%, 04/22/26 | &nbsp;&nbsp; 1363 | 1330678 |
| 3.00%, 10/23/26 | &nbsp;&nbsp; 3195 | 3095613 |
| 3.20%, 06/17/27, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2375 | 2316060 |
| 3.53%, 03/24/28, (1-day SOFR + 1.510%)<sup>(c)</sup> | &nbsp;&nbsp; 3345 | 3245319 |
| 3.55%, 09/29/25<sup>(a)</sup> | &nbsp;&nbsp; 2350 | 2324382 |
| 3.58%, 05/22/28, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2740 | 2655028 |
| 3.91%, 04/25/26, (1-day SOFR + 1.320%)<sup>(c)</sup> | &nbsp;&nbsp; 2090 | 2077224 |
| 4.10%, 06/03/26 | &nbsp;&nbsp; 2477 | 2450604 |
| 4.15%, 01/24/29 | &nbsp;&nbsp; 1890 | 1847280 |
| 4.30%, 07/22/27 | &nbsp;&nbsp; 2215 | 2186699 |
| 4.54%, 08/15/26, (1-day SOFR + 1.560%)<sup>(c)</sup> | &nbsp;&nbsp; 1925 | 1917103 |
| 4.81%, 07/25/28, (1-day SOFR + 1.980%)<sup>(c)</sup> | &nbsp;&nbsp; 2720 | 2715029 |
| 5.57%, 07/25/29, (1-day SOFR + 1.740%)<sup>(c)</sup> | &nbsp;&nbsp; 2745 | 2800829 |
| 5.71%, 04/22/28, (1-day SOFR +1.070%)<sup>(c)</sup> | &nbsp;&nbsp; 1825 | 1860335 |
| 6.30%, 10/23/29, (1-day SOFR + 1.790%)<sup>(c)</sup> | &nbsp;&nbsp; 2010 | 2104157 |
| Wells Fargo Bank NA |  |  |
| 4.81%, 01/15/26 | &nbsp;&nbsp; 1025 | 1027600 |
| 5.25%, 12/11/26 | &nbsp;&nbsp; 1810 | 1836118 |
| 5.45%, 08/07/26 | &nbsp;&nbsp; 2700 | 2739827 |
| 5.55%, 08/01/25 | &nbsp;&nbsp; 1560 | 1569060 |
| Westpac Banking Corp. |  |  |
| 1.02%, 11/18/24 | &nbsp;&nbsp; 630 | 628726 |
| 1.15%, 06/03/26 | &nbsp;&nbsp; 953 | 905434 |
| 1.95%, 11/20/28 | &nbsp;&nbsp; 1010 | 912488 |
| 2.35%, 02/19/25 | &nbsp;&nbsp; 651 | 646155 |
| 2.70%, 08/19/26 | &nbsp;&nbsp; 450 | 436520 |
| 2.85%, 05/13/26 | &nbsp;&nbsp; 815 | 795274 |
| 3.35%, 03/08/27 | &nbsp;&nbsp; 550 | 536288 |
| 3.40%, 01/25/28 | &nbsp;&nbsp; 810 | 783751 |
| 3.74%, 08/26/25 | &nbsp;&nbsp; 285 | 283538 |
| 4.04%, 08/26/27 | &nbsp;&nbsp; 605 | 598046 |
| 5.05%, 04/16/29 | &nbsp;&nbsp; 695 | 707987 |
| 5.20%, 04/16/26 | &nbsp;&nbsp; 695 | 702420 |
| 5.46%, 11/18/27 | &nbsp;&nbsp; 885 | 908801 |
| 5.51%, 11/17/25 | &nbsp;&nbsp; 740 | 747967 |
| 5.54%, 11/17/28 | &nbsp;&nbsp; 1005 | 1043732 |
|  |  | 687644326 |
| **Beverages — 1.4%** | **Beverages — 1.4%** | **Beverages — 1.4%** |
| Anheuser-Busch Companies LLC/Anheuser-Busch <br> InBev Worldwide Inc., 3.65%, 02/01/26<br>| &nbsp;&nbsp; 20 | 19777 |
| Anheuser-Busch InBev Worldwide Inc. |  |  |
| 4.00%, 04/13/28 | &nbsp;&nbsp; 1915 | 1882778 |
| 4.75%, 01/23/29 | &nbsp;&nbsp; 3090 | 3103732 |
| Coca-Cola Co. (The) |  |  |
| 1.00%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1030 | 924813 |
| 1.45%, 06/01/27 | &nbsp;&nbsp; 1115 | 1041425 |
| 1.50%, 03/05/28 | &nbsp;&nbsp; 660 | 601728 |
| 2.13%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 705 | 634687 |
| 2.90%, 05/25/27 | &nbsp;&nbsp; 420 | 406305 |
| 3.38%, 03/25/27 | &nbsp;&nbsp; 780 | 764188 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| Coca-Cola Consolidated Inc., 5.25%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; $510 | $518448 |
| Constellation Brands Inc. |  |  |
| 3.15%, 08/01/29 | &nbsp;&nbsp; 530 | 491747 |
| 3.50%, 05/09/27 | &nbsp;&nbsp; 485 | 471155 |
| 3.60%, 02/15/28 | &nbsp;&nbsp; 690 | 664943 |
| 3.70%, 12/06/26 | &nbsp;&nbsp; 504 | 493963 |
| 4.35%, 05/09/27 | &nbsp;&nbsp; 495 | 490488 |
| 4.40%, 11/15/25 | &nbsp;&nbsp; 509 | 506514 |
| 4.65%, 11/15/28 | &nbsp;&nbsp; 340 | 337399 |
| 5.00%, 02/02/26 | &nbsp;&nbsp; 480 | 479275 |
| Diageo Capital PLC |  |  |
| 1.38%, 09/29/25 | &nbsp;&nbsp; 620 | 602225 |
| 2.38%, 10/24/29 | &nbsp;&nbsp; 800 | 720248 |
| 5.20%, 10/24/25 | &nbsp;&nbsp; 470 | 473408 |
| 5.30%, 10/24/27 | &nbsp;&nbsp; 720 | 736896 |
| Keurig Dr Pepper Inc. |  |  |
| 3.40%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 457 | 451157 |
| 3.95%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 725 | 700871 |
| 4.42%, 05/25/25 | &nbsp;&nbsp; 477 | 476531 |
| 4.60%, 05/25/28 | &nbsp;&nbsp; 980 | 976506 |
| 5.05%, 03/15/29 | &nbsp;&nbsp; 520 | 525004 |
| 5.10%, 03/15/27 | &nbsp;&nbsp; 330 | 333665 |
| Molson Coors Beverage Co., 3.00%, 07/15/26 | &nbsp;&nbsp; 1675 | 1629595 |
| PepsiCo Inc. |  |  |
| 2.25%, 03/19/25 | &nbsp;&nbsp; 689 | 682850 |
| 2.38%, 10/06/26 | &nbsp;&nbsp; 630 | 607957 |
| 2.63%, 03/19/27 | &nbsp;&nbsp; 425 | 408394 |
| 2.63%, 07/29/29 | &nbsp;&nbsp; 745 | 685814 |
| 2.75%, 04/30/25 | &nbsp;&nbsp; 406 | 402803 |
| 2.85%, 02/24/26 | &nbsp;&nbsp; 590 | 578341 |
| 3.00%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 235 | 226466 |
| 3.50%, 07/17/25<sup>(a)</sup> | &nbsp;&nbsp; 778 | 772988 |
| 3.60%, 02/18/28 | &nbsp;&nbsp; 640 | 624546 |
| 4.45%, 05/15/28 | &nbsp;&nbsp; 560 | 562624 |
| 4.50%, 07/17/29<sup>(a)</sup> | &nbsp;&nbsp; 620 | 622024 |
| 4.55%, 02/13/26 | &nbsp;&nbsp; 545 | 546224 |
| 5.13%, 11/10/26 | &nbsp;&nbsp; 651 | 661207 |
| 5.25%, 11/10/25 | &nbsp;&nbsp; 655 | 660249 |
| 7.00%, 03/01/29 | &nbsp;&nbsp; 345 | 379452 |
| Pepsico Singapore Financing I Pte Ltd., 4.65%, <br> 02/16/27<br>| &nbsp;&nbsp; 435 | 436779 |
|  |  | 30318189 |
| **Biotechnology — 1.0%** | **Biotechnology — 1.0%** | **Biotechnology — 1.0%** |
| Amgen Inc. |  |  |
| 1.65%, 08/15/28 | &nbsp;&nbsp; 975 | 873729 |
| 1.90%, 02/21/25 | &nbsp;&nbsp; 581 | 575598 |
| 2.20%, 02/21/27 | &nbsp;&nbsp; 1382 | 1311657 |
| 2.60%, 08/19/26<sup>(a)</sup> | &nbsp;&nbsp; 925 | 893226 |
| 3.00%, 02/22/29 | &nbsp;&nbsp; 585 | 546818 |
| 3.13%, 05/01/25 | &nbsp;&nbsp; 872 | 865410 |
| 3.20%, 11/02/27 | &nbsp;&nbsp; 215 | 207042 |
| 4.05%, 08/18/29 | &nbsp;&nbsp; 920 | 892367 |
| 5.15%, 03/02/28 | &nbsp;&nbsp; 2787 | 2822253 |
| 5.25%, 03/02/25 | &nbsp;&nbsp; 840 | 840604 |
| 5.51%, 03/02/26 | &nbsp;&nbsp; 1265 | 1265429 |
| Baxalta Inc., 4.00%, 06/23/25<sup>(a)</sup> | &nbsp;&nbsp; 868 | 863601 |
| Biogen Inc., 4.05%, 09/15/25 | &nbsp;&nbsp; 1435 | 1424880 |
| Gilead Sciences Inc. |  |  |
| 1.20%, 10/01/27 | &nbsp;&nbsp; 600 | 546749 |
| 2.95%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1030 | 994723 |
| 3.50%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1387 | 1381604 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| 3.65%, 03/01/26 | &nbsp;&nbsp; $2298 | $2268652 |
| Illumina Inc. |  |  |
| 4.65%, 09/09/26 | &nbsp;&nbsp; 360 | 359171 |
| 5.75%, 12/13/27 | &nbsp;&nbsp; 475 | 487189 |
| 5.80%, 12/12/25 | &nbsp;&nbsp; 520 | 524690 |
| Royalty Pharma PLC |  |  |
| 1.20%, 09/02/25 | &nbsp;&nbsp; 807 | 782909 |
| 1.75%, 09/02/27<sup>(a)</sup> | &nbsp;&nbsp; 850 | 783537 |
| 5.15%, 09/02/29 | &nbsp;&nbsp; 365 | 367521 |
|  |  | 21879359 |
| **Building Materials — 0.3%** | **Building Materials — 0.3%** | **Building Materials — 0.3%** |
| Carrier Global Corp. |  |  |
| 2.24%, 02/15/25 | &nbsp;&nbsp; 1051 | 1042915 |
| 2.49%, 02/15/27 | &nbsp;&nbsp; 625 | 597134 |
| CRH SMW Finance DAC, 5.20%, 05/21/29 | &nbsp;&nbsp; 525 | 531829 |
| Fortune Brands Innovations Inc. |  |  |
| 3.25%, 09/15/29 | &nbsp;&nbsp; 400 | 370394 |
| 4.00%, 06/15/25 | &nbsp;&nbsp; 645 | 641431 |
| Johnson Controls International PLC/Tyco Fire & <br> Security Finance SCA, 5.50%, 04/19/29<br>| &nbsp;&nbsp; 510 | 523169 |
| Martin Marietta Materials Inc., 3.50%, 12/15/27 | &nbsp;&nbsp; 265 | 256231 |
| Masco Corp., 1.50%, 02/15/28 | &nbsp;&nbsp; 407 | 366345 |
| Mohawk Industries Inc., 5.85%, 09/18/28<sup>(a)</sup> | &nbsp;&nbsp; 475 | 489823 |
| Owens Corning, 5.50%, 06/15/27 | &nbsp;&nbsp; 5 | 5096 |
| Trane Technologies Financing Ltd. |  |  |
| 3.55%, 11/01/24 | &nbsp;&nbsp; 569 | 569000 |
| 3.80%, 03/21/29 | &nbsp;&nbsp; 510 | 492641 |
| Trane Technologies Global Holding Co. Ltd., <br> 3.75%, 08/21/28<br>| &nbsp;&nbsp; 455 | 441706 |
|  |  | 6327714 |
| **Chemicals — 1.0%** | **Chemicals — 1.0%** | **Chemicals — 1.0%** |
| Air Products and Chemicals Inc. |  |  |
| 1.50%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 621 | 603840 |
| 1.85%, 05/15/27 | &nbsp;&nbsp; 610 | 572779 |
| 4.60%, 02/08/29 | &nbsp;&nbsp; 615 | 615991 |
| Albemarle Corp., 4.65%, 06/01/27 | &nbsp;&nbsp; 725 | 720032 |
| Celanese U.S. Holdings LLC |  |  |
| 6.05%, 03/15/25 | &nbsp;&nbsp; 976 | 978526 |
| 6.17%, 07/15/27 | &nbsp;&nbsp; 1710 | 1749261 |
| 6.33%, 07/15/29 | &nbsp;&nbsp; 520 | 537461 |
| 6.35%, 11/15/28 | &nbsp;&nbsp; 815 | 843202 |
| Dow Chemical Co. (The), 4.80%, 11/30/28<sup>(a)</sup> | &nbsp;&nbsp; 210 | 210478 |
| DuPont de Nemours Inc. |  |  |
| 4.49%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1630 | 1625432 |
| 4.73%, 11/15/28 | &nbsp;&nbsp; 1605 | 1605154 |
| Eastman Chemical Co. |  |  |
| 4.50%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 395 | 389679 |
| 5.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 180 | 180482 |
| Ecolab Inc. |  |  |
| 1.65%, 02/01/27 | &nbsp;&nbsp; 600 | 564045 |
| 2.70%, 11/01/26 | &nbsp;&nbsp; 615 | 594305 |
| 3.25%, 12/01/27 | &nbsp;&nbsp; 75 | 72312 |
| 5.25%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 670 | 685408 |
| EIDP Inc. |  |  |
| 1.70%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 613 | 600929 |
| 4.50%, 05/15/26 | &nbsp;&nbsp; 50 | 49946 |
| FMC Corp. |  |  |
| 3.20%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 255 | 246758 |
| 3.45%, 10/01/29 | &nbsp;&nbsp; 335 | 307567 |
| 5.15%, 05/18/26 | &nbsp;&nbsp; 535 | 536185 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| Linde Inc./CT |  |  |
| 3.20%, 01/30/26 | &nbsp;&nbsp; $613 | $603970 |
| 4.70%, 12/05/25 | &nbsp;&nbsp; 695 | 695745 |
| LYB International Finance II BV, 3.50%, 03/02/27 | &nbsp;&nbsp; 225 | 218517 |
| Mosaic Co. (The), 4.05%, 11/15/27 | &nbsp;&nbsp; 135 | 132341 |
| Nutrien Ltd. |  |  |
| 4.20%, 04/01/29 | &nbsp;&nbsp; 585 | 570961 |
| 4.90%, 03/27/28 | &nbsp;&nbsp; 625 | 629421 |
| 5.90%, 11/07/24 | &nbsp;&nbsp; 250 | 249983 |
| 5.95%, 11/07/25 | &nbsp;&nbsp; 190 | 192458 |
| PPG Industries Inc. |  |  |
| 1.20%, 03/15/26 | &nbsp;&nbsp; 747 | 711353 |
| 3.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 115 | 111718 |
| Rohm & Haas Co., 7.85%, 07/15/29 | &nbsp;&nbsp; 430 | 478679 |
| Sherwin-Williams Co. (The) |  |  |
| 2.95%, 08/15/29 | &nbsp;&nbsp; 640 | 589685 |
| 3.45%, 06/01/27 | &nbsp;&nbsp; 1365 | 1325643 |
| Westlake Corp., 3.60%, 08/15/26 | &nbsp;&nbsp; 780 | 763510 |
|  |  | 21563756 |
| **Commercial Services — 0.9%** | **Commercial Services — 0.9%** | **Commercial Services — 0.9%** |
| Automatic Data Processing Inc. |  |  |
| 1.70%, 05/15/28 | &nbsp;&nbsp; 790 | 721448 |
| 3.38%, 09/15/25 | &nbsp;&nbsp; 806 | 799008 |
| Block Financial LLC, 2.50%, 07/15/28 | &nbsp;&nbsp; 395 | 360933 |
| Cintas Corp. No. 2, 3.70%, 04/01/27 | &nbsp;&nbsp; 360 | 353621 |
| Equifax Inc. |  |  |
| 2.60%, 12/01/24 | &nbsp;&nbsp; 525 | 523762 |
| 4.80%, 09/15/29 | &nbsp;&nbsp; 630 | 623368 |
| 5.10%, 12/15/27 | &nbsp;&nbsp; 530 | 534667 |
| 5.10%, 06/01/28 | &nbsp;&nbsp; 550 | 553570 |
| Global Payments Inc. |  |  |
| 1.20%, 03/01/26 | &nbsp;&nbsp; 881 | 840528 |
| 1.50%, 11/15/24 | &nbsp;&nbsp; 365 | 364396 |
| 2.15%, 01/15/27 | &nbsp;&nbsp; 515 | 486791 |
| 2.65%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 392 | 389100 |
| 3.20%, 08/15/29 | &nbsp;&nbsp; 910 | 836409 |
| 4.80%, 04/01/26 | &nbsp;&nbsp; 631 | 629807 |
| 4.95%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 425 | 426992 |
| 5.30%, 08/15/29 | &nbsp;&nbsp; 350 | 352561 |
| GXO Logistics Inc., 6.25%, 05/06/29 | &nbsp;&nbsp; 415 | 428519 |
| Moody's Corp. |  |  |
| 3.25%, 01/15/28 | &nbsp;&nbsp; 400 | 385605 |
| 3.75%, 03/24/25 | &nbsp;&nbsp; 592 | 589800 |
| PayPal Holdings Inc. |  |  |
| 1.65%, 06/01/25 | &nbsp;&nbsp; 886 | 870527 |
| 2.65%, 10/01/26 | &nbsp;&nbsp; 1000 | 966424 |
| 2.85%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1150 | 1056783 |
| 3.90%, 06/01/27 | &nbsp;&nbsp; 395 | 389893 |
| Quanta Services Inc., 4.75%, 08/09/27 | &nbsp;&nbsp; 385 | 384468 |
| RELX Capital Inc., 4.00%, 03/18/29 | &nbsp;&nbsp; 600 | 583729 |
| S&P Global Inc. |  |  |
| 2.45%, 03/01/27 | &nbsp;&nbsp; 980 | 934651 |
| 2.70%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 800 | 738744 |
| 2.95%, 01/22/27<sup>(a)</sup> | &nbsp;&nbsp; 395 | 382202 |
| 4.25%, 05/01/29 | &nbsp;&nbsp; 735 | 721795 |
| 4.75%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 550 | 552070 |
| Verisk Analytics Inc. |  |  |
| 4.00%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 148 | 147295 |
| 4.13%, 03/15/29 | &nbsp;&nbsp; 425 | 415255 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Yale University, Series 2020, 0.87%, 04/15/25 | &nbsp;&nbsp; $531 | $521931 |
|  |  | 18866652 |
| **Computers — 2.6%** | **Computers — 2.6%** | **Computers — 2.6%** |
| Accenture Capital Inc. |  |  |
| 3.90%, 10/04/27 | &nbsp;&nbsp; 375 | 370404 |
| 4.05%, 10/04/29 | &nbsp;&nbsp; 900 | 878934 |
| Apple Inc. |  |  |
| 0.55%, 08/20/25<sup>(a)</sup> | &nbsp;&nbsp; 1018 | 987925 |
| 0.70%, 02/08/26 | &nbsp;&nbsp; 1860 | 1776283 |
| 1.13%, 05/11/25 | &nbsp;&nbsp; 1417 | 1391008 |
| 1.40%, 08/05/28 | &nbsp;&nbsp; 1785 | 1604380 |
| 2.05%, 09/11/26 | &nbsp;&nbsp; 1610 | 1544236 |
| 2.20%, 09/11/29 | &nbsp;&nbsp; 1345 | 1215528 |
| 2.45%, 08/04/26 | &nbsp;&nbsp; 1800 | 1744607 |
| 2.50%, 02/09/25 | &nbsp;&nbsp; 830 | 825196 |
| 2.75%, 01/13/25 | &nbsp;&nbsp; 778 | 775000 |
| 2.90%, 09/12/27 | &nbsp;&nbsp; 1400 | 1347717 |
| 3.00%, 06/20/27 | &nbsp;&nbsp; 885 | 856963 |
| 3.00%, 11/13/27 | &nbsp;&nbsp; 840 | 808583 |
| 3.20%, 05/13/25 | &nbsp;&nbsp; 1350 | 1339867 |
| 3.20%, 05/11/27 | &nbsp;&nbsp; 1650 | 1607331 |
| 3.25%, 02/23/26 | &nbsp;&nbsp; 1555 | 1532405 |
| 3.25%, 08/08/29 | &nbsp;&nbsp; 815 | 775822 |
| 3.35%, 02/09/27 | &nbsp;&nbsp; 1845 | 1807508 |
| 4.00%, 05/10/28 | &nbsp;&nbsp; 1385 | 1371632 |
| Dell International LLC/EMC Corp. |  |  |
| 4.90%, 10/01/26 | &nbsp;&nbsp; 1345 | 1347931 |
| 5.25%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 780 | 792414 |
| 5.30%, 10/01/29 | &nbsp;&nbsp; 1315 | 1336993 |
| 6.02%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1911 | 1942799 |
| 6.10%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 440 | 455656 |
| DXC Technology Co. |  |  |
| 1.80%, 09/15/26 | &nbsp;&nbsp; 565 | 532003 |
| 2.38%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 500 | 445059 |
| Fortinet Inc., 1.00%, 03/15/26 | &nbsp;&nbsp; 523 | 497007 |
| Hewlett Packard Enterprise Co. |  |  |
| 1.75%, 04/01/26 | &nbsp;&nbsp; 610 | 584770 |
| 4.40%, 09/25/27 | &nbsp;&nbsp; 875 | 867665 |
| 4.45%, 09/25/26<sup>(a)</sup> | &nbsp;&nbsp; 735 | 731438 |
| 4.55%, 10/15/29 | &nbsp;&nbsp; 1200 | 1175861 |
| 4.90%, 10/15/25 | &nbsp;&nbsp; 1890 | 1890274 |
| 5.25%, 07/01/28 | &nbsp;&nbsp; 445 | 450601 |
| HP Inc. |  |  |
| 1.45%, 06/17/26 | &nbsp;&nbsp; 537 | 509586 |
| 2.20%, 06/17/25 | &nbsp;&nbsp; 946 | 930414 |
| 3.00%, 06/17/27<sup>(a)</sup> | &nbsp;&nbsp; 815 | 781362 |
| 4.00%, 04/15/29 | &nbsp;&nbsp; 700 | 675809 |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 705 | 706558 |
| IBM International Capital Pte Ltd. |  |  |
| 4.60%, 02/05/27 | &nbsp;&nbsp; 400 | 401003 |
| 4.60%, 02/05/29<sup>(a)</sup> | &nbsp;&nbsp; 340 | 339063 |
| 4.70%, 02/05/26 | &nbsp;&nbsp; 480 | 480289 |
| International Business Machines Corp. |  |  |
| 1.70%, 05/15/27 | &nbsp;&nbsp; 965 | 899941 |
| 2.20%, 02/09/27 | &nbsp;&nbsp; 570 | 541521 |
| 3.30%, 05/15/26 | &nbsp;&nbsp; 2290 | 2246884 |
| 3.30%, 01/27/27<sup>(a)</sup> | &nbsp;&nbsp; 397 | 386925 |
| 3.45%, 02/19/26 | &nbsp;&nbsp; 1099 | 1084057 |
| 3.50%, 05/15/29 | &nbsp;&nbsp; 2450 | 2326242 |
| 4.00%, 07/27/25<sup>(a)</sup> | &nbsp;&nbsp; 860 | 856951 |
| 4.15%, 07/27/27 | &nbsp;&nbsp; 610 | 603930 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| 4.50%, 02/06/26 | &nbsp;&nbsp; $875 | $874312 |
| 4.50%, 02/06/28<sup>(a)</sup> | &nbsp;&nbsp; 760 | 757958 |
| 7.00%, 10/30/25 | &nbsp;&nbsp; 425 | 435654 |
| Kyndryl Holdings Inc. |  |  |
| 2.05%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 570 | 538813 |
| 2.70%, 10/15/28 | &nbsp;&nbsp; 165 | 150318 |
| Leidos Inc., 3.63%, 05/15/25 | &nbsp;&nbsp; 485 | 481770 |
| NetApp Inc. |  |  |
| 1.88%, 06/22/25<sup>(a)</sup> | &nbsp;&nbsp; 676 | 663590 |
| 2.38%, 06/22/27<sup>(a)</sup> | &nbsp;&nbsp; 475 | 448481 |
| Western Digital Corp., 2.85%, 02/01/29 | &nbsp;&nbsp; 300 | 266148 |
|  |  | 55999379 |
| **Cosmetics & Personal Care — 0.9%** | **Cosmetics & Personal Care — 0.9%** | **Cosmetics & Personal Care — 0.9%** |
| Colgate-Palmolive Co. |  |  |
| 3.10%, 08/15/25 | &nbsp;&nbsp; 340 | 336595 |
| 3.10%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 465 | 451560 |
| 4.60%, 03/01/28 | &nbsp;&nbsp; 457 | 463087 |
| 4.80%, 03/02/26 | &nbsp;&nbsp; 472 | 475023 |
| Estee Lauder Companies Inc. (The) |  |  |
| 2.00%, 12/01/24 | &nbsp;&nbsp; 541 | 539592 |
| 3.15%, 03/15/27 | &nbsp;&nbsp; 240 | 232484 |
| 4.38%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 610 | 605766 |
| Haleon U.K. Capital PLC, 3.13%, 03/24/25 | &nbsp;&nbsp; 1215 | 1206625 |
| Haleon U.S. Capital LLC |  |  |
| 3.38%, 03/24/27 | &nbsp;&nbsp; 1570 | 1522902 |
| 3.38%, 03/24/29 | &nbsp;&nbsp; 650 | 614254 |
| Kenvue Inc. |  |  |
| 5.05%, 03/22/28 | &nbsp;&nbsp; 910 | 925769 |
| 5.35%, 03/22/26 | &nbsp;&nbsp; 695 | 702892 |
| 5.50%, 03/22/25<sup>(a)</sup> | &nbsp;&nbsp; 700 | 701315 |
| Procter & Gamble Co. (The) |  |  |
| 0.55%, 10/29/25 | &nbsp;&nbsp; 747 | 719739 |
| 1.00%, 04/23/26<sup>(a)</sup> | &nbsp;&nbsp; 787 | 751571 |
| 1.90%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 725 | 689166 |
| 2.45%, 11/03/26 | &nbsp;&nbsp; 695 | 670933 |
| 2.70%, 02/02/26 | &nbsp;&nbsp; 530 | 520172 |
| 2.80%, 03/25/27 | &nbsp;&nbsp; 400 | 387047 |
| 2.85%, 08/11/27 | &nbsp;&nbsp; 505 | 486559 |
| 3.95%, 01/26/28<sup>(a)</sup> | &nbsp;&nbsp; 580 | 572908 |
| 4.10%, 01/26/26 | &nbsp;&nbsp; 480 | 479012 |
| 4.15%, 10/24/29<sup>(a)</sup> | &nbsp;&nbsp; 375 | 372802 |
| 4.35%, 01/29/29 | &nbsp;&nbsp; 435 | 435238 |
| Unilever Capital Corp. |  |  |
| 2.00%, 07/28/26 | &nbsp;&nbsp; 230 | 221079 |
| 2.13%, 09/06/29 | &nbsp;&nbsp; 645 | 576022 |
| 2.90%, 05/05/27 | &nbsp;&nbsp; 848 | 818518 |
| 3.10%, 07/30/25<sup>(a)</sup> | &nbsp;&nbsp; 510 | 504901 |
| 3.50%, 03/22/28 | &nbsp;&nbsp; 1090 | 1057418 |
| 4.25%, 08/12/27 | &nbsp;&nbsp; 275 | 274096 |
| 4.88%, 09/08/28<sup>(a)</sup> | &nbsp;&nbsp; 535 | 542165 |
|  |  | 18857210 |
| **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** |
| LKQ Corp., 5.75%, 06/15/28 | &nbsp;&nbsp; 595 | 606498 |
| WW Grainger Inc., 1.85%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 546 | 541585 |
|  |  | 1148083 |
| **Diversified Financial Services — 4.1%** | **Diversified Financial Services — 4.1%** | **Diversified Financial Services — 4.1%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 1.75%, 01/30/26 | &nbsp;&nbsp; 920 | 884680 |
| 2.45%, 10/29/26 | &nbsp;&nbsp; 3245 | 3098059 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 3.00%, 10/29/28<sup>(a)</sup> | &nbsp;&nbsp; $2920 | $2709219 |
| 3.50%, 01/15/25 | &nbsp;&nbsp; 749 | 746228 |
| 3.65%, 07/21/27 | &nbsp;&nbsp; 800 | 776369 |
| 3.88%, 01/23/28<sup>(a)</sup> | &nbsp;&nbsp; 425 | 411674 |
| 4.45%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 560 | 558669 |
| 4.45%, 04/03/26 | &nbsp;&nbsp; 520 | 516454 |
| 4.63%, 10/15/27 | &nbsp;&nbsp; 490 | 486490 |
| 4.63%, 09/10/29 | &nbsp;&nbsp; 775 | 760121 |
| 5.10%, 01/19/29 | &nbsp;&nbsp; 585 | 586609 |
| 5.75%, 06/06/28<sup>(a)</sup> | &nbsp;&nbsp; 770 | 789864 |
| 6.10%, 01/15/27 | &nbsp;&nbsp; 515 | 528040 |
| 6.45%, 04/15/27 | &nbsp;&nbsp; 1442 | 1492658 |
| 6.50%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1132 | 1142124 |
| Air Lease Corp. |  |  |
| 1.88%, 08/15/26 | &nbsp;&nbsp; 987 | 937470 |
| 2.10%, 09/01/28 | &nbsp;&nbsp; 480 | 432762 |
| 2.20%, 01/15/27 | &nbsp;&nbsp; 545 | 515099 |
| 2.30%, 02/01/25 | &nbsp;&nbsp; 584 | 579325 |
| 2.88%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1220 | 1191335 |
| 3.25%, 03/01/25 | &nbsp;&nbsp; 635 | 630676 |
| 3.25%, 10/01/29 | &nbsp;&nbsp; 340 | 313798 |
| 3.38%, 07/01/25 | &nbsp;&nbsp; 843 | 834581 |
| 3.63%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 363 | 354098 |
| 3.63%, 12/01/27 | &nbsp;&nbsp; 110 | 106258 |
| 3.75%, 06/01/26 | &nbsp;&nbsp; 660 | 648850 |
| 4.63%, 10/01/28 | &nbsp;&nbsp; 200 | 197986 |
| 5.10%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 340 | 342302 |
| 5.30%, 06/25/26 | &nbsp;&nbsp; 305 | 307639 |
| 5.30%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 493 | 499973 |
| 5.85%, 12/15/27 | &nbsp;&nbsp; 970 | 997888 |
| Aircastle Ltd., 4.25%, 06/15/26 | &nbsp;&nbsp; 640 | 631531 |
| Ally Financial Inc. |  |  |
| 2.20%, 11/02/28 | &nbsp;&nbsp; 605 | 537304 |
| 4.63%, 03/30/25<sup>(a)</sup> | &nbsp;&nbsp; 156 | 155686 |
| 4.75%, 06/09/27<sup>(a)</sup> | &nbsp;&nbsp; 275 | 272493 |
| 5.80%, 05/01/25 | &nbsp;&nbsp; 336 | 336896 |
| 7.10%, 11/15/27 | &nbsp;&nbsp; 465 | 489305 |
| American Express Co. |  |  |
| 1.65%, 11/04/26 | &nbsp;&nbsp; 992 | 936010 |
| 2.25%, 03/04/25 | &nbsp;&nbsp; 1020 | 1010986 |
| 2.55%, 03/04/27<sup>(a)</sup> | &nbsp;&nbsp; 1320 | 1260885 |
| 3.13%, 05/20/26 | &nbsp;&nbsp; 440 | 430774 |
| 3.30%, 05/03/27 | &nbsp;&nbsp; 1485 | 1439326 |
| 3.63%, 12/05/24 | &nbsp;&nbsp; 350 | 349562 |
| 3.95%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1490 | 1482224 |
| 4.05%, 05/03/29 | &nbsp;&nbsp; 815 | 797786 |
| 4.20%, 11/06/25<sup>(a)</sup> | &nbsp;&nbsp; 365 | 363677 |
| 4.90%, 02/13/26<sup>(a)</sup> | &nbsp;&nbsp; 650 | 652790 |
| 5.85%, 11/05/27 | &nbsp;&nbsp; 1130 | 1168914 |
| Ameriprise Financial Inc. |  |  |
| 2.88%, 09/15/26 | &nbsp;&nbsp; 365 | 355183 |
| 3.00%, 04/02/25<sup>(a)</sup> | &nbsp;&nbsp; 452 | 448390 |
| 5.70%, 12/15/28 | &nbsp;&nbsp; 400 | 416764 |
| Ares Management Corp., 6.38%, 11/10/28 | &nbsp;&nbsp; 355 | 374075 |
| Brookfield Finance Inc. |  |  |
| 3.90%, 01/25/28 | &nbsp;&nbsp; 1005 | 979566 |
| 4.25%, 06/02/26<sup>(a)</sup> | &nbsp;&nbsp; 410 | 407415 |
| 4.85%, 03/29/29<sup>(a)</sup> | &nbsp;&nbsp; 715 | 715341 |
| Capital One Financial Corp. |  |  |
| 3.20%, 02/05/25 | &nbsp;&nbsp; 558 | 555184 |
| 3.65%, 05/11/27 | &nbsp;&nbsp; 585 | 570384 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 3.75%, 07/28/26 | &nbsp;&nbsp; $631 | $617952 |
| 3.75%, 03/09/27 | &nbsp;&nbsp; 810 | 791397 |
| 3.80%, 01/31/28 | &nbsp;&nbsp; 1065 | 1029102 |
| 4.20%, 10/29/25 | &nbsp;&nbsp; 873 | 866487 |
| 4.25%, 04/30/25 | &nbsp;&nbsp; 346 | 344935 |
| Cboe Global Markets Inc., 3.65%, 01/12/27 | &nbsp;&nbsp; 610 | 598225 |
| Charles Schwab Corp. (The) |  |  |
| 0.90%, 03/11/26 | &nbsp;&nbsp; 1040 | 988146 |
| 1.15%, 05/13/26 | &nbsp;&nbsp; 864 | 820532 |
| 2.00%, 03/20/28 | &nbsp;&nbsp; 1070 | 981448 |
| 2.45%, 03/03/27 | &nbsp;&nbsp; 1325 | 1260816 |
| 3.20%, 03/02/27 | &nbsp;&nbsp; 585 | 566639 |
| 3.20%, 01/25/28 | &nbsp;&nbsp; 740 | 707097 |
| 3.25%, 05/22/29<sup>(a)</sup> | &nbsp;&nbsp; 495 | 466153 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 415 | 402470 |
| 3.85%, 05/21/25 | &nbsp;&nbsp; 586 | 583780 |
| 4.00%, 02/01/29 | &nbsp;&nbsp; 50 | 48696 |
| 4.20%, 03/24/25 | &nbsp;&nbsp; 548 | 547286 |
| 5.88%, 08/24/26 | &nbsp;&nbsp; 555 | 566566 |
| CME Group Inc. |  |  |
| 3.00%, 03/15/25 | &nbsp;&nbsp; 631 | 626717 |
| 3.75%, 06/15/28 | &nbsp;&nbsp; 605 | 593126 |
| Discover Financial Services |  |  |
| 3.75%, 03/04/25 | &nbsp;&nbsp; 20 | 19891 |
| 3.95%, 11/06/24 | &nbsp;&nbsp; 385 | 384925 |
| 4.10%, 02/09/27 | &nbsp;&nbsp; 405 | 398354 |
| 4.50%, 01/30/26 | &nbsp;&nbsp; 75 | 74564 |
| Enact Holdings Inc., 6.25%, 05/28/29 | &nbsp;&nbsp; 515 | 525010 |
| Intercontinental Exchange Inc. |  |  |
| 3.10%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 130 | 124997 |
| 3.63%, 09/01/28 | &nbsp;&nbsp; 630 | 605990 |
| 3.65%, 05/23/25 | &nbsp;&nbsp; 1090 | 1082500 |
| 3.75%, 12/01/25 | &nbsp;&nbsp; 935 | 926635 |
| 3.75%, 09/21/28 | &nbsp;&nbsp; 395 | 381684 |
| 4.00%, 09/15/27 | &nbsp;&nbsp; 1515 | 1493244 |
| 4.35%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 995 | 980766 |
| Jefferies Financial Group Inc. |  |  |
| 4.85%, 01/15/27 | &nbsp;&nbsp; 720 | 719641 |
| 5.88%, 07/21/28<sup>(a)</sup> | &nbsp;&nbsp; 835 | 858215 |
| Lazard Group LLC |  |  |
| 4.38%, 03/11/29 | &nbsp;&nbsp; 350 | 341883 |
| 4.50%, 09/19/28 | &nbsp;&nbsp; 350 | 342714 |
| LPL Holdings Inc. |  |  |
| 5.70%, 05/20/27 | &nbsp;&nbsp; 340 | 344330 |
| 6.75%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp; 565 | 596118 |
| Mastercard Inc. |  |  |
| 2.00%, 03/03/25<sup>(a)</sup> | &nbsp;&nbsp; 212 | 210139 |
| 2.95%, 11/21/26<sup>(a)</sup> | &nbsp;&nbsp; 575 | 559281 |
| 2.95%, 06/01/29 | &nbsp;&nbsp; 740 | 692933 |
| 3.30%, 03/26/27 | &nbsp;&nbsp; 805 | 785690 |
| 3.50%, 02/26/28 | &nbsp;&nbsp; 65 | 63189 |
| 4.10%, 01/15/28 | &nbsp;&nbsp; 280 | 277699 |
| 4.88%, 03/09/28 | &nbsp;&nbsp; 635 | 644371 |
| Nasdaq Inc. |  |  |
| 3.85%, 06/30/26 | &nbsp;&nbsp; 368 | 362977 |
| 5.35%, 06/28/28 | &nbsp;&nbsp; 980 | 999847 |
| 5.65%, 06/28/25 | &nbsp;&nbsp; 340 | 341592 |
| Nomura Holdings Inc. |  |  |
| 1.65%, 07/14/26 | &nbsp;&nbsp; 1018 | 964114 |
| 1.85%, 07/16/25 | &nbsp;&nbsp; 1480 | 1446196 |
| 2.17%, 07/14/28<sup>(a)</sup> | &nbsp;&nbsp; 815 | 734216 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 2.33%, 01/22/27 | &nbsp;&nbsp; $945 | $893543 |
| 2.65%, 01/16/25 | &nbsp;&nbsp; 1232 | 1225295 |
| 2.71%, 01/22/29 | &nbsp;&nbsp; 220 | 200130 |
| 5.10%, 07/03/25 | &nbsp;&nbsp; 145 | 144977 |
| 5.39%, 07/06/27 | &nbsp;&nbsp; 395 | 398464 |
| 5.59%, 07/02/27 | &nbsp;&nbsp; 440 | 446300 |
| 5.61%, 07/06/29 | &nbsp;&nbsp; 440 | 449195 |
| 5.71%, 01/09/26 | &nbsp;&nbsp; 350 | 352743 |
| 5.84%, 01/18/28 | &nbsp;&nbsp; 475 | 485816 |
| 6.07%, 07/12/28<sup>(a)</sup> | &nbsp;&nbsp; 740 | 764861 |
| ORIX Corp. |  |  |
| 3.25%, 12/04/24 | &nbsp;&nbsp; 720 | 718392 |
| 3.70%, 07/18/27 | &nbsp;&nbsp; 85 | 82602 |
| 4.65%, 09/10/29 | &nbsp;&nbsp; 455 | 449117 |
| 5.00%, 09/13/27 | &nbsp;&nbsp; 635 | 641015 |
| Synchrony Financial |  |  |
| 3.70%, 08/04/26 | &nbsp;&nbsp; 50 | 48802 |
| 3.95%, 12/01/27 | &nbsp;&nbsp; 690 | 663253 |
| 4.50%, 07/23/25 | &nbsp;&nbsp; 575 | 571964 |
| 4.88%, 06/13/25 | &nbsp;&nbsp; 480 | 478771 |
| 5.15%, 03/19/29 | &nbsp;&nbsp; 520 | 511602 |
| Visa Inc. |  |  |
| 0.75%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 220 | 200433 |
| 1.90%, 04/15/27 | &nbsp;&nbsp; 1365 | 1289124 |
| 2.75%, 09/15/27 | &nbsp;&nbsp; 470 | 450822 |
| 3.15%, 12/14/25 | &nbsp;&nbsp; 1575 | 1552881 |
| Western Union Co. (The) |  |  |
| 1.35%, 03/15/26 | &nbsp;&nbsp; 532 | 505631 |
| 2.85%, 01/10/25 | &nbsp;&nbsp; 475 | 473094 |
|  |  | 87205851 |
| **Electric — 4.3%** | **Electric — 4.3%** | **Electric — 4.3%** |
| AEP Texas Inc. |  |  |
| 3.95%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 375 | 364527 |
| 5.45%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 370 | 377368 |
| AES Corp. (The) |  |  |
| 1.38%, 01/15/26 | &nbsp;&nbsp; 652 | 624380 |
| 5.45%, 06/01/28 | &nbsp;&nbsp; 895 | 902863 |
| Alabama Power Co., 3.75%, 09/01/27 | &nbsp;&nbsp; 415 | 408021 |
| Ameren Corp. |  |  |
| 1.95%, 03/15/27 | &nbsp;&nbsp; 375 | 352171 |
| 5.00%, 01/15/29 | &nbsp;&nbsp; 450 | 451867 |
| 5.70%, 12/01/26 | &nbsp;&nbsp; 410 | 417722 |
| American Electric Power Co. Inc. |  |  |
| 5.20%, 01/15/29 | &nbsp;&nbsp; 705 | 713249 |
| 5.75%, 11/01/27 | &nbsp;&nbsp; 365 | 376087 |
| Series J, 4.30%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 465 | 456227 |
| Avangrid Inc. |  |  |
| 3.15%, 12/01/24 | &nbsp;&nbsp; 413 | 412203 |
| 3.20%, 04/15/25 | &nbsp;&nbsp; 749 | 743504 |
| 3.80%, 06/01/29 | &nbsp;&nbsp; 545 | 520213 |
| Berkshire Hathaway Energy Co. |  |  |
| 3.25%, 04/15/28 | &nbsp;&nbsp; 385 | 368886 |
| 4.05%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1123 | 1120682 |
| CenterPoint Energy Houston Electric LLC, 5.20%, <br> 10/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 305 | 310903 |
| CenterPoint Energy Inc. |  |  |
| 1.45%, 06/01/26 | &nbsp;&nbsp; 480 | 455637 |
| 5.40%, 06/01/29 | &nbsp;&nbsp; 520 | 529507 |
| Commonwealth Edison Co. |  |  |
| 2.55%, 06/15/26 | &nbsp;&nbsp; 405 | 392361 |
| 3.70%, 08/15/28 | &nbsp;&nbsp; 365 | 352709 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Connecticut Light and Power Co. (The), Series A, <br> 3.20%, 03/15/27<br>| &nbsp;&nbsp; $345 | $334910 |
| Consolidated Edison Co. of New York Inc., <br> Series D, 4.00%, 12/01/28<br>| &nbsp;&nbsp; 310 | 302229 |
| Constellation Energy Generation LLC |  |  |
| 3.25%, 06/01/25 | &nbsp;&nbsp; 862 | 853515 |
| 5.60%, 03/01/28 | &nbsp;&nbsp; 550 | 564562 |
| Consumers Energy Co. |  |  |
| 4.60%, 05/30/29 | &nbsp;&nbsp; 505 | 504093 |
| 4.90%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 302980 |
| Dominion Energy Inc. |  |  |
| 3.90%, 10/01/25 | &nbsp;&nbsp; 585 | 580685 |
| 4.25%, 06/01/28 | &nbsp;&nbsp; 370 | 364845 |
| Series A, 1.45%, 04/15/26 | &nbsp;&nbsp; 610 | 581989 |
| DTE Electric Co. |  |  |
| 4.85%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 140 | 141237 |
| Series A, 1.90%, 04/01/28 | &nbsp;&nbsp; 470 | 430448 |
| DTE Energy Co. |  |  |
| 2.85%, 10/01/26 | &nbsp;&nbsp; 440 | 424928 |
| 4.22%, 11/01/24<sup>(d)</sup> | &nbsp;&nbsp; 1140 | 1140000 |
| 4.88%, 06/01/28 | &nbsp;&nbsp; 585 | 585826 |
| 4.95%, 07/01/27 | &nbsp;&nbsp; 585 | 588171 |
| 5.10%, 03/01/29 | &nbsp;&nbsp; 900 | 905714 |
| Series F, 1.05%, 06/01/25 | &nbsp;&nbsp; 843 | 824790 |
| Duke Energy Carolinas LLC, 3.95%, 11/15/28 | &nbsp;&nbsp; 575 | 561561 |
| Duke Energy Corp. |  |  |
| 0.90%, 09/15/25 | &nbsp;&nbsp; 525 | 507565 |
| 2.65%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1160 | 1119374 |
| 3.15%, 08/15/27 | &nbsp;&nbsp; 682 | 654688 |
| 3.40%, 06/15/29 | &nbsp;&nbsp; 435 | 408563 |
| 4.30%, 03/15/28 | &nbsp;&nbsp; 675 | 666010 |
| 4.85%, 01/05/27 | &nbsp;&nbsp; 285 | 286190 |
| 4.85%, 01/05/29<sup>(a)</sup> | &nbsp;&nbsp; 545 | 545456 |
| 5.00%, 12/08/25<sup>(a)</sup> | &nbsp;&nbsp; 445 | 445986 |
| 5.00%, 12/08/27 | &nbsp;&nbsp; 385 | 387601 |
| Duke Energy Florida LLC |  |  |
| 3.20%, 01/15/27 | &nbsp;&nbsp; 280 | 272677 |
| 3.80%, 07/15/28 | &nbsp;&nbsp; 490 | 477318 |
| Duke Energy Progress LLC |  |  |
| 3.25%, 08/15/25 | &nbsp;&nbsp; 596 | 589878 |
| 3.45%, 03/15/29 | &nbsp;&nbsp; 370 | 353323 |
| 3.70%, 09/01/28 | &nbsp;&nbsp; 350 | 339187 |
| Edison International |  |  |
| 3.55%, 11/15/24 | &nbsp;&nbsp; 536 | 535462 |
| 4.13%, 03/15/28 | &nbsp;&nbsp; 510 | 497491 |
| 5.25%, 11/15/28 | &nbsp;&nbsp; 285 | 286856 |
| 5.45%, 06/15/29 | &nbsp;&nbsp; 375 | 381085 |
| 5.75%, 06/15/27 | &nbsp;&nbsp; 465 | 474461 |
| Emera U.S. Finance LP, 3.55%, 06/15/26 | &nbsp;&nbsp; 650 | 634761 |
| Entergy Arkansas LLC, 3.50%, 04/01/26 | &nbsp;&nbsp; 475 | 468367 |
| Entergy Corp. |  |  |
| 0.90%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 712 | 687516 |
| 1.90%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 450 | 407234 |
| 2.95%, 09/01/26 | &nbsp;&nbsp; 563 | 545666 |
| Evergy Inc., 2.90%, 09/15/29 | &nbsp;&nbsp; 580 | 528581 |
| Eversource Energy |  |  |
| 2.90%, 03/01/27 | &nbsp;&nbsp; 620 | 594796 |
| 4.60%, 07/01/27 | &nbsp;&nbsp; 630 | 626983 |
| 5.45%, 03/01/28 | &nbsp;&nbsp; 965 | 983859 |
| 5.95%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 670 | 694873 |
| Series O, 4.25%, 04/01/29 | &nbsp;&nbsp; 320 | 311920 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Exelon Corp. |  |  |
| 2.75%, 03/15/27 | &nbsp;&nbsp; $495 | $473866 |
| 3.40%, 04/15/26 | &nbsp;&nbsp; 615 | 603433 |
| 3.95%, 06/15/25 | &nbsp;&nbsp; 821 | 816011 |
| 5.15%, 03/15/28 | &nbsp;&nbsp; 745 | 752677 |
| 5.15%, 03/15/29 | &nbsp;&nbsp; 450 | 456958 |
| FirstEnergy Corp., Series B, 3.90%, 07/15/27 | &nbsp;&nbsp; 1070 | 1045130 |
| Florida Power & Light Co. |  |  |
| 2.85%, 04/01/25 | &nbsp;&nbsp; 653 | 648340 |
| 3.13%, 12/01/25 | &nbsp;&nbsp; 533 | 525141 |
| 4.40%, 05/15/28 | &nbsp;&nbsp; 575 | 572211 |
| 4.45%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 487 | 487075 |
| 5.05%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 640 | 648873 |
| 5.15%, 06/15/29 | &nbsp;&nbsp; 540 | 550359 |
| Fortis Inc./Canada, 3.06%, 10/04/26<sup>(a)</sup> | &nbsp;&nbsp; 520 | 503289 |
| Georgia Power Co. |  |  |
| 4.65%, 05/16/28<sup>(a)</sup> | &nbsp;&nbsp; 650 | 650687 |
| 5.00%, 02/23/27 | &nbsp;&nbsp; 140 | 141589 |
| Series B, 2.65%, 09/15/29 | &nbsp;&nbsp; 480 | 438404 |
| Interstate Power & Light Co. |  |  |
| 3.25%, 12/01/24 | &nbsp;&nbsp; 352 | 351266 |
| 4.10%, 09/26/28 | &nbsp;&nbsp; 235 | 229211 |
| ITC Holdings Corp., 3.35%, 11/15/27 | &nbsp;&nbsp; 345 | 331645 |
| MidAmerican Energy Co., 3.65%, 04/15/29 | &nbsp;&nbsp; 645 | 618591 |
| National Grid PLC, 5.60%, 06/12/28 | &nbsp;&nbsp; 495 | 506691 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 1.00%, 06/15/26 | &nbsp;&nbsp; 605 | 572361 |
| 1.88%, 02/07/25<sup>(a)</sup> | &nbsp;&nbsp; 500 | 495850 |
| 4.12%, 09/16/27 | &nbsp;&nbsp; 170 | 168262 |
| 4.45%, 03/13/26 | &nbsp;&nbsp; 320 | 319342 |
| 4.80%, 02/05/27 | &nbsp;&nbsp; 415 | 417566 |
| 4.80%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 425 | 428003 |
| 4.85%, 02/07/29<sup>(a)</sup> | &nbsp;&nbsp; 360 | 361916 |
| 5.15%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 370 | 376179 |
| 5.45%, 10/30/25<sup>(a)</sup> | &nbsp;&nbsp; 417 | 420910 |
| Nevada Power Co., Series CC, 3.70%, 05/01/29 | &nbsp;&nbsp; 375 | 359934 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 1.88%, 01/15/27 | &nbsp;&nbsp; 945 | 889534 |
| 1.90%, 06/15/28 | &nbsp;&nbsp; 1650 | 1493679 |
| 3.50%, 04/01/29 | &nbsp;&nbsp; 310 | 293846 |
| 3.55%, 05/01/27 | &nbsp;&nbsp; 740 | 721300 |
| 4.45%, 06/20/25 | &nbsp;&nbsp; 910 | 909351 |
| 4.63%, 07/15/27 | &nbsp;&nbsp; 1160 | 1160072 |
| 4.90%, 02/28/28 | &nbsp;&nbsp; 985 | 989445 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 675 | 677700 |
| 4.95%, 01/29/26 | &nbsp;&nbsp; 730 | 732559 |
| 5.75%, 09/01/25 | &nbsp;&nbsp; 280 | 282092 |
| NSTAR Electric Co., 3.20%, 05/15/27 | &nbsp;&nbsp; 225 | 217848 |
| Oncor Electric Delivery Co. LLC |  |  |
| 3.70%, 11/15/28 | &nbsp;&nbsp; 445 | 431161 |
| 4.30%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 450 | 446448 |
| Pacific Gas and Electric Co. |  |  |
| 2.10%, 08/01/27 | &nbsp;&nbsp; 585 | 543114 |
| 2.95%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 654 | 635514 |
| 3.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 575 | 538868 |
| 3.15%, 01/01/26 | &nbsp;&nbsp; 1527 | 1493320 |
| 3.30%, 12/01/27 | &nbsp;&nbsp; 875 | 833127 |
| 3.45%, 07/01/25 | &nbsp;&nbsp; 410 | 405966 |
| 3.50%, 06/15/25 | &nbsp;&nbsp; 710 | 703131 |
| 3.75%, 07/01/28 | &nbsp;&nbsp; 664 | 637195 |
| 5.55%, 05/15/29 | &nbsp;&nbsp; 620 | 631416 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 6.10%, 01/15/29 | &nbsp;&nbsp; $655 | $679472 |
| PacifiCorp, 5.10%, 02/15/29 | &nbsp;&nbsp; 335 | 339028 |
| Pinnacle West Capital Corp., 1.30%, 06/15/25 | &nbsp;&nbsp; 611 | 595925 |
| PPL Capital Funding Inc., 3.10%, 05/15/26 | &nbsp;&nbsp; 625 | 608579 |
| Public Service Enterprise Group Inc. |  |  |
| 0.80%, 08/15/25 | &nbsp;&nbsp; 640 | 620371 |
| 5.20%, 04/01/29 | &nbsp;&nbsp; 540 | 547967 |
| 5.85%, 11/15/27 | &nbsp;&nbsp; 390 | 401952 |
| 5.88%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 405 | 420148 |
| Puget Energy Inc., 2.38%, 06/15/28 | &nbsp;&nbsp; 280 | 254704 |
| San Diego Gas & Electric Co. |  |  |
| 2.50%, 05/15/26 | &nbsp;&nbsp; 485 | 470634 |
| 4.95%, 08/15/28 | &nbsp;&nbsp; 435 | 439055 |
| Sempra |  |  |
| 3.25%, 06/15/27 | &nbsp;&nbsp; 450 | 432945 |
| 3.30%, 04/01/25 | &nbsp;&nbsp; 425 | 422595 |
| 3.40%, 02/01/28 | &nbsp;&nbsp; 1010 | 965502 |
| 3.70%, 04/01/29 | &nbsp;&nbsp; 435 | 413716 |
| 5.40%, 08/01/26 | &nbsp;&nbsp; 500 | 505108 |
| Southern California Edison Co. |  |  |
| 2.85%, 08/01/29 | &nbsp;&nbsp; 385 | 354718 |
| 4.40%, 09/06/26 | &nbsp;&nbsp; 120 | 119582 |
| 4.88%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 435 | 437601 |
| 5.15%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 615 | 625438 |
| 5.30%, 03/01/28 | &nbsp;&nbsp; 480 | 488475 |
| 5.35%, 03/01/26 | &nbsp;&nbsp; 410 | 413391 |
| 5.65%, 10/01/28 | &nbsp;&nbsp; 530 | 546451 |
| 5.85%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 640 | 661350 |
| Series A, 4.20%, 03/01/29 | &nbsp;&nbsp; 295 | 288960 |
| Series D, 4.70%, 06/01/27 | &nbsp;&nbsp; 425 | 425747 |
| Series E, 3.70%, 08/01/25 | &nbsp;&nbsp; 731 | 724504 |
| Southern Co. (The) |  |  |
| 3.25%, 07/01/26 | &nbsp;&nbsp; 1410 | 1377546 |
| 4.85%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 520 | 524028 |
| 5.15%, 10/06/25<sup>(a)</sup> | &nbsp;&nbsp; 395 | 396965 |
| 5.50%, 03/15/29 | &nbsp;&nbsp; 690 | 709688 |
| Southern Power Co., 4.15%, 12/01/25 | &nbsp;&nbsp; 353 | 349918 |
| Southwestern Electric Power Co. |  |  |
| Series M, 4.10%, 09/15/28 | &nbsp;&nbsp; 410 | 400296 |
| Series N, 1.65%, 03/15/26 | &nbsp;&nbsp; 620 | 594668 |
| Virginia Electric & Power Co. |  |  |
| Series A, 2.88%, 07/15/29 | &nbsp;&nbsp; 300 | 276894 |
| Series A, 3.15%, 01/15/26 | &nbsp;&nbsp; 593 | 582822 |
| Series A, 3.50%, 03/15/27 | &nbsp;&nbsp; 470 | 459094 |
| Series A, 3.80%, 04/01/28 | &nbsp;&nbsp; 525 | 512027 |
| Series B, 3.75%, 05/15/27 | &nbsp;&nbsp; 450 | 441699 |
| WEC Energy Group Inc. |  |  |
| 1.38%, 10/15/27 | &nbsp;&nbsp; 330 | 300400 |
| 2.20%, 12/15/28 | &nbsp;&nbsp; 335 | 303525 |
| 4.75%, 01/09/26 | &nbsp;&nbsp; 880 | 879244 |
| 5.00%, 09/27/25<sup>(a)</sup> | &nbsp;&nbsp; 525 | 525580 |
| 5.60%, 09/12/26 | &nbsp;&nbsp; 455 | 462308 |
| Xcel Energy Inc. |  |  |
| 1.75%, 03/15/27 | &nbsp;&nbsp; 420 | 392256 |
| 3.30%, 06/01/25 | &nbsp;&nbsp; 741 | 734213 |
| 3.35%, 12/01/26 | &nbsp;&nbsp; 332 | 322526 |
| 4.00%, 06/15/28 | &nbsp;&nbsp; 465 | 451821 |
|  |  | 91497189 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Emerson Electric Co. |  |  |
| 0.88%, 10/15/26 | &nbsp;&nbsp; 634 | 593975 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** |
| 1.80%, 10/15/27 | &nbsp;&nbsp; $210 | $194655 |
| 2.00%, 12/21/28 | &nbsp;&nbsp; 755 | 682515 |
| 3.15%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 584 | 580425 |
|  |  | 2051570 |
| **Electronics — 0.6%** | **Electronics — 0.6%** | **Electronics — 0.6%** |
| Amphenol Corp. |  |  |
| 4.35%, 06/01/29 | &nbsp;&nbsp; 385 | 379063 |
| 5.05%, 04/05/27 | &nbsp;&nbsp; 225 | 227287 |
| Arrow Electronics Inc. |  |  |
| 3.88%, 01/12/28 | &nbsp;&nbsp; 380 | 365789 |
| 5.15%, 08/21/29 | &nbsp;&nbsp; 310 | 308118 |
| Avnet Inc. |  |  |
| 4.63%, 04/15/26 | &nbsp;&nbsp; 270 | 268032 |
| 6.25%, 03/15/28 | &nbsp;&nbsp; 405 | 418423 |
| Flex Ltd. |  |  |
| 3.75%, 02/01/26 | &nbsp;&nbsp; 567 | 557983 |
| 4.75%, 06/15/25 | &nbsp;&nbsp; 590 | 588435 |
| 4.88%, 06/15/29 | &nbsp;&nbsp; 470 | 463427 |
| Fortive Corp., 3.15%, 06/15/26 | &nbsp;&nbsp; 860 | 837435 |
| Honeywell International Inc. |  |  |
| 1.10%, 03/01/27 | &nbsp;&nbsp; 810 | 751655 |
| 1.35%, 06/01/25 | &nbsp;&nbsp; 637 | 625205 |
| 2.50%, 11/01/26 | &nbsp;&nbsp; 1185 | 1143868 |
| 2.70%, 08/15/29 | &nbsp;&nbsp; 570 | 525615 |
| 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 520 | 516341 |
| 4.65%, 07/30/27 | &nbsp;&nbsp; 580 | 583804 |
| 4.88%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 330 | 333640 |
| 4.95%, 02/15/28 | &nbsp;&nbsp; 405 | 412474 |
| Jabil Inc. |  |  |
| 1.70%, 04/15/26 | &nbsp;&nbsp; 497 | 474015 |
| 3.95%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; 250 | 242351 |
| 4.25%, 05/15/27 | &nbsp;&nbsp; 330 | 325523 |
| Keysight Technologies Inc. |  |  |
| 3.00%, 10/30/29 | &nbsp;&nbsp; 282 | 257578 |
| 4.60%, 04/06/27 | &nbsp;&nbsp; 516 | 516563 |
| TD SYNNEX Corp. |  |  |
| 1.75%, 08/09/26 | &nbsp;&nbsp; 575 | 544228 |
| 2.38%, 08/09/28 | &nbsp;&nbsp; 475 | 431836 |
| Trimble Inc., 4.90%, 06/15/28 | &nbsp;&nbsp; 480 | 479556 |
| Tyco Electronics Group SA, 4.50%, 02/13/26 | &nbsp;&nbsp; 80 | 79878 |
| Vontier Corp. |  |  |
| 1.80%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 555 | 529750 |
| 2.40%, 04/01/28 | &nbsp;&nbsp; 425 | 385731 |
|  |  | 13573603 |
| **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** |
| Jacobs Engineering Group Inc., 6.35%, 08/18/28 | &nbsp;&nbsp; 260 | 271130 |
| MasTec Inc., 5.90%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 385 | 392909 |
|  |  | 664039 |
| **Entertainment — 0.3%** | **Entertainment — 0.3%** | **Entertainment — 0.3%** |
| Warnermedia Holdings Inc. |  |  |
| 3.64%, 03/15/25 | &nbsp;&nbsp; 1330 | 1322080 |
| 3.76%, 03/15/27 | &nbsp;&nbsp; 3000 | 2890072 |
| 3.79%, 03/15/25 | &nbsp;&nbsp; 365 | 363013 |
| 4.05%, 03/15/29 | &nbsp;&nbsp; 915 | 854790 |
| 6.41%, 03/15/26 | &nbsp;&nbsp; 1150 | 1151978 |
|  |  | 6581933 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| Republic Services Inc. |  |  |
| 2.90%, 07/01/26 | &nbsp;&nbsp; 590 | 574620 |
| 3.20%, 03/15/25 | &nbsp;&nbsp; 531 | 527759 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control (continued)** | **Environmental Control (continued)** | **Environmental Control (continued)** |
| 3.38%, 11/15/27 | &nbsp;&nbsp; $140 | $135423 |
| 3.95%, 05/15/28 | &nbsp;&nbsp; 690 | 674154 |
| 4.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 560 | 563188 |
| Veralto Corp. |  |  |
| 5.35%, 09/18/28 | &nbsp;&nbsp; 610 | 621022 |
| 5.50%, 09/18/26 | &nbsp;&nbsp; 635 | 643425 |
| Waste Connections Inc. |  |  |
| 3.50%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 365 | 347162 |
| 4.25%, 12/01/28 | &nbsp;&nbsp; 400 | 393877 |
| Waste Management Inc. |  |  |
| 0.75%, 11/15/25 | &nbsp;&nbsp; 593 | 569885 |
| 1.15%, 03/15/28 | &nbsp;&nbsp; 494 | 441763 |
| 3.15%, 11/15/27 | &nbsp;&nbsp; 370 | 356054 |
| 4.50%, 03/15/28 | &nbsp;&nbsp; 725 | 722670 |
| 4.88%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 560 | 566233 |
| 4.95%, 07/03/27 | &nbsp;&nbsp; 365 | 368830 |
|  |  | 7506065 |
| **Food — 1.4%** | **Food — 1.4%** | **Food — 1.4%** |
| Campbell Soup Co. |  |  |
| 3.95%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 715 | 712260 |
| 4.15%, 03/15/28 | &nbsp;&nbsp; 863 | 847182 |
| 5.20%, 03/19/27<sup>(a)</sup> | &nbsp;&nbsp; 375 | 380230 |
| 5.20%, 03/21/29 | &nbsp;&nbsp; 375 | 380330 |
| Conagra Brands Inc. |  |  |
| 1.38%, 11/01/27 | &nbsp;&nbsp; 855 | 773116 |
| 4.60%, 11/01/25 | &nbsp;&nbsp; 877 | 874604 |
| 4.85%, 11/01/28 | &nbsp;&nbsp; 1025 | 1022040 |
| 5.30%, 10/01/26 | &nbsp;&nbsp; 445 | 449341 |
| General Mills Inc. |  |  |
| 3.20%, 02/10/27<sup>(a)</sup> | &nbsp;&nbsp; 55 | 53293 |
| 4.00%, 04/17/25 | &nbsp;&nbsp; 813 | 810755 |
| 4.20%, 04/17/28 | &nbsp;&nbsp; 1165 | 1145290 |
| 4.70%, 01/30/27 | &nbsp;&nbsp; 420 | 420380 |
| 5.24%, 11/18/25<sup>(a)</sup> | &nbsp;&nbsp; 550 | 550054 |
| 5.50%, 10/17/28 | &nbsp;&nbsp; 360 | 369508 |
| Hormel Foods Corp. |  |  |
| 1.70%, 06/03/28 | &nbsp;&nbsp; 750 | 680184 |
| 4.80%, 03/30/27 | &nbsp;&nbsp; 360 | 362402 |
| Ingredion Inc., 3.20%, 10/01/26 | &nbsp;&nbsp; 165 | 160372 |
| J.M. Smucker Co. (The) |  |  |
| 3.38%, 12/15/27 | &nbsp;&nbsp; 180 | 173402 |
| 3.50%, 03/15/25 | &nbsp;&nbsp; 620 | 616199 |
| 5.90%, 11/15/28 | &nbsp;&nbsp; 510 | 532418 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL<br>|  |  |
| 2.50%, 01/15/27 | &nbsp;&nbsp; 806 | 764269 |
| 3.00%, 02/02/29 | &nbsp;&nbsp; 420 | 384994 |
| 5.13%, 02/01/28 | &nbsp;&nbsp; 625 | 625094 |
| Kellanova |  |  |
| 3.25%, 04/01/26 | &nbsp;&nbsp; 700 | 685204 |
| 3.40%, 11/15/27 | &nbsp;&nbsp; 195 | 188251 |
| 4.30%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 550 | 543384 |
| Kraft Heinz Foods Co. |  |  |
| 3.00%, 06/01/26 | &nbsp;&nbsp; 1555 | 1514185 |
| 3.88%, 05/15/27 | &nbsp;&nbsp; 1100 | 1078803 |
| Kroger Co. (The) |  |  |
| 2.65%, 10/15/26 | &nbsp;&nbsp; 710 | 683032 |
| 3.50%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 350 | 344869 |
| 3.70%, 08/01/27 | &nbsp;&nbsp; 240 | 234339 |
| 4.50%, 01/15/29 | &nbsp;&nbsp; 430 | 426675 |
| 4.60%, 08/15/27 | &nbsp;&nbsp; 515 | 515993 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| 4.65%, 09/15/29 | &nbsp;&nbsp; $1075 | $1074477 |
| 4.70%, 08/15/26 | &nbsp;&nbsp; 370 | 371000 |
| McCormick & Co. Inc./MD |  |  |
| 0.90%, 02/15/26 | &nbsp;&nbsp; 526 | 500819 |
| 3.40%, 08/15/27 | &nbsp;&nbsp; 355 | 343851 |
| Mondelez International Inc. |  |  |
| 1.50%, 05/04/25 | &nbsp;&nbsp; 674 | 662910 |
| 2.63%, 03/17/27 | &nbsp;&nbsp; 788 | 753564 |
| 4.75%, 02/20/29 | &nbsp;&nbsp; 400 | 400908 |
| Sysco Corp. |  |  |
| 3.25%, 07/15/27 | &nbsp;&nbsp; 650 | 626186 |
| 3.30%, 07/15/26 | &nbsp;&nbsp; 885 | 865058 |
| 3.75%, 10/01/25 | &nbsp;&nbsp; 638 | 632692 |
| 5.75%, 01/17/29 | &nbsp;&nbsp; 350 | 362506 |
| Tyson Foods Inc. |  |  |
| 3.55%, 06/02/27 | &nbsp;&nbsp; 1115 | 1082352 |
| 4.00%, 03/01/26 | &nbsp;&nbsp; 795 | 785850 |
| 4.35%, 03/01/29 | &nbsp;&nbsp; 815 | 795368 |
| 5.40%, 03/15/29 | &nbsp;&nbsp; 415 | 422054 |
| Walmart Inc., 3.90%, 09/09/25<sup>(a)</sup> | &nbsp;&nbsp; 1270 | 1264066 |
|  |  | 30246113 |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| Atmos Energy Corp. |  |  |
| 2.63%, 09/15/29 | &nbsp;&nbsp; 370 | 338573 |
| 3.00%, 06/15/27 | &nbsp;&nbsp; 255 | 245343 |
| CenterPoint Energy Resources Corp., 5.25%, <br> 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 748 | 760921 |
| National Fuel Gas Co., 5.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 523 | 525743 |
| NiSource Inc. |  |  |
| 0.95%, 08/15/25 | &nbsp;&nbsp; 835 | 809119 |
| 2.95%, 09/01/29 | &nbsp;&nbsp; 595 | 545657 |
| 3.49%, 05/15/27 | &nbsp;&nbsp; 750 | 729894 |
| 5.20%, 07/01/29 | &nbsp;&nbsp; 415 | 420956 |
| 5.25%, 03/30/28 | &nbsp;&nbsp; 905 | 918001 |
| ONE Gas Inc., 5.10%, 04/01/29 | &nbsp;&nbsp; 400 | 406016 |
| Piedmont Natural Gas Co. Inc., 3.50%, 06/01/29 | &nbsp;&nbsp; 405 | 384008 |
| Southern California Gas Co. |  |  |
| 2.95%, 04/15/27 | &nbsp;&nbsp; 805 | 774477 |
| Series TT, 2.60%, 06/15/26 | &nbsp;&nbsp; 455 | 441037 |
|  |  | 7299745 |
| **Hand & Machine Tools — 0.2%** | **Hand & Machine Tools — 0.2%** | **Hand & Machine Tools — 0.2%** |
| Regal Rexnord Corp. |  |  |
| 6.05%, 02/15/26 | &nbsp;&nbsp; 1025 | 1035112 |
| 6.05%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 990 | 1014649 |
| Stanley Black & Decker Inc. |  |  |
| 2.30%, 02/24/25 | &nbsp;&nbsp; 590 | 585288 |
| 3.40%, 03/01/26 | &nbsp;&nbsp; 650 | 638684 |
| 4.25%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 320 | 314461 |
|  |  | 3588194 |
| **Health Care - Products — 1.2%** | **Health Care - Products — 1.2%** | **Health Care - Products — 1.2%** |
| Abbott Laboratories |  |  |
| 1.15%, 01/30/28 | &nbsp;&nbsp; 215 | 194633 |
| 2.95%, 03/15/25 | &nbsp;&nbsp; 622 | 618585 |
| 3.75%, 11/30/26 | &nbsp;&nbsp; 1385 | 1370143 |
| Agilent Technologies Inc. |  |  |
| 2.75%, 09/15/29 | &nbsp;&nbsp; 292 | 265990 |
| 4.20%, 09/09/27 | &nbsp;&nbsp; 400 | 395697 |
| Baxter International Inc. |  |  |
| 1.32%, 11/29/24 | &nbsp;&nbsp; 1110 | 1105168 |
| 1.92%, 02/01/27 | &nbsp;&nbsp; 1165 | 1094326 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products (continued)** | **Health Care - Products (continued)** | **Health Care - Products (continued)** |
| 2.27%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; $1005 | $904264 |
| 2.60%, 08/15/26 | &nbsp;&nbsp; 710 | 683391 |
| Boston Scientific Corp., 1.90%, 06/01/25 | &nbsp;&nbsp; 523 | 514840 |
| Danaher Corp., 3.35%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 570 | 564813 |
| DH Europe Finance II SARL, 2.20%, 11/15/24 | &nbsp;&nbsp; 736 | 735322 |
| GE HealthCare Technologies Inc. |  |  |
| 4.80%, 08/14/29 | &nbsp;&nbsp; 700 | 698537 |
| 5.55%, 11/15/24 | &nbsp;&nbsp; 870 | 869963 |
| 5.60%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 865 | 871712 |
| 5.65%, 11/15/27 | &nbsp;&nbsp; 1420 | 1455661 |
| Medtronic Global Holdings SCA, 4.25%, 03/30/28 | &nbsp;&nbsp; 905 | 899637 |
| Revvity Inc. |  |  |
| 1.90%, 09/15/28 | &nbsp;&nbsp; 300 | 268815 |
| 3.30%, 09/15/29 | &nbsp;&nbsp; 600 | 554225 |
| Solventum Corp. |  |  |
| 5.40%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 1085 | 1098089 |
| 5.45%, 02/25/27<sup>(b)</sup> | &nbsp;&nbsp; 455 | 460845 |
| Stryker Corp. |  |  |
| 1.15%, 06/15/25 | &nbsp;&nbsp; 675 | 660350 |
| 3.38%, 11/01/25 | &nbsp;&nbsp; 615 | 608311 |
| 3.50%, 03/15/26 | &nbsp;&nbsp; 850 | 837520 |
| 3.65%, 03/07/28 | &nbsp;&nbsp; 515 | 497866 |
| 4.25%, 09/11/29<sup>(a)</sup> | &nbsp;&nbsp; 475 | 465026 |
| 4.85%, 12/08/28<sup>(a)</sup> | &nbsp;&nbsp; 375 | 376904 |
| Thermo Fisher Scientific Inc. |  |  |
| 1.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 100 | 90112 |
| 2.60%, 10/01/29 | &nbsp;&nbsp; 705 | 643669 |
| 4.80%, 11/21/27<sup>(a)</sup> | &nbsp;&nbsp; 605 | 611268 |
| 4.95%, 08/10/26 | &nbsp;&nbsp; 625 | 630207 |
| 5.00%, 12/05/26 | &nbsp;&nbsp; 510 | 516057 |
| 5.00%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 895 | 909623 |
| Zimmer Biomet Holdings Inc. |  |  |
| 1.45%, 11/22/24 | &nbsp;&nbsp; 813 | 810616 |
| 3.05%, 01/15/26 | &nbsp;&nbsp; 534 | 523349 |
| 3.55%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 760 | 756185 |
| 5.35%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 355 | 361883 |
|  |  | 24923602 |
| **Health Care - Services — 2.4%** | **Health Care - Services — 2.4%** | **Health Care - Services — 2.4%** |
| Aetna Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 657 | 656302 |
| Centene Corp. |  |  |
| 2.45%, 07/15/28 | &nbsp;&nbsp; 1780 | 1602620 |
| 4.25%, 12/15/27 | &nbsp;&nbsp; 2000 | 1935265 |
| Cigna Group (The) |  |  |
| 1.25%, 03/15/26 | &nbsp;&nbsp; 317 | 302084 |
| 3.05%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 215 | 205307 |
| 3.25%, 04/15/25 | &nbsp;&nbsp; 638 | 633482 |
| 3.40%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1065 | 1033981 |
| 4.13%, 11/15/25 | &nbsp;&nbsp; 10 | 9941 |
| 4.38%, 10/15/28 | &nbsp;&nbsp; 3305 | 3245064 |
| 4.50%, 02/25/26 | &nbsp;&nbsp; 646 | 644107 |
| 5.00%, 05/15/29 | &nbsp;&nbsp; 735 | 737870 |
| 5.69%, 03/15/26 | &nbsp;&nbsp; 475 | 474449 |
| CommonSpirit Health |  |  |
| 3.35%, 10/01/29 | &nbsp;&nbsp; 600 | 557434 |
| 6.07%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 207193 |
| Elevance Health Inc. |  |  |
| 1.50%, 03/15/26 | &nbsp;&nbsp; 595 | 570023 |
| 2.38%, 01/15/25 | &nbsp;&nbsp; 911 | 906010 |
| 2.88%, 09/15/29 | &nbsp;&nbsp; 680 | 620446 |
| 3.35%, 12/01/24 | &nbsp;&nbsp; 425 | 424240 |
| 3.65%, 12/01/27 | &nbsp;&nbsp; 1290 | 1252523 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| 4.10%, 03/01/28 | &nbsp;&nbsp; $1000 | $981014 |
| 4.90%, 02/08/26 | &nbsp;&nbsp; 410 | 409060 |
| 5.15%, 06/15/29 | &nbsp;&nbsp; 380 | 384617 |
| HCA Inc. |  |  |
| 3.13%, 03/15/27 | &nbsp;&nbsp; 814 | 783358 |
| 3.38%, 03/15/29 | &nbsp;&nbsp; 365 | 341925 |
| 4.13%, 06/15/29 | &nbsp;&nbsp; 1475 | 1419419 |
| 4.50%, 02/15/27 | &nbsp;&nbsp; 925 | 917636 |
| 5.20%, 06/01/28 | &nbsp;&nbsp; 805 | 812350 |
| 5.25%, 04/15/25 | &nbsp;&nbsp; 1075 | 1077058 |
| 5.25%, 06/15/26 | &nbsp;&nbsp; 1167 | 1170985 |
| 5.38%, 02/01/25 | &nbsp;&nbsp; 1335 | 1334937 |
| 5.38%, 09/01/26 | &nbsp;&nbsp; 790 | 794452 |
| 5.63%, 09/01/28 | &nbsp;&nbsp; 1155 | 1178225 |
| 5.88%, 02/15/26 | &nbsp;&nbsp; 1195 | 1203572 |
| 5.88%, 02/01/29 | &nbsp;&nbsp; 735 | 755759 |
| Humana Inc. |  |  |
| 1.35%, 02/03/27 | &nbsp;&nbsp; 987 | 916247 |
| 3.13%, 08/15/29 | &nbsp;&nbsp; 300 | 275519 |
| 3.70%, 03/23/29 | &nbsp;&nbsp; 400 | 378989 |
| 3.95%, 03/15/27 | &nbsp;&nbsp; 275 | 269274 |
| 4.50%, 04/01/25 | &nbsp;&nbsp; 477 | 476385 |
| 5.70%, 03/13/26 | &nbsp;&nbsp; 50 | 49892 |
| 5.75%, 03/01/28 | &nbsp;&nbsp; 295 | 301047 |
| 5.75%, 12/01/28 | &nbsp;&nbsp; 305 | 312978 |
| ICON Investments Six DAC |  |  |
| 5.81%, 05/08/27 | &nbsp;&nbsp; 225 | 229480 |
| 5.85%, 05/08/29 | &nbsp;&nbsp; 535 | 549459 |
| IQVIA Inc. |  |  |
| 5.70%, 05/15/28 | &nbsp;&nbsp; 550 | 563193 |
| 6.25%, 02/01/29 | &nbsp;&nbsp; 1005 | 1046633 |
| Kaiser Foundation Hospitals, 3.15%, 05/01/27 | &nbsp;&nbsp; 325 | 315310 |
| Laboratory Corp. of America Holdings |  |  |
| 1.55%, 06/01/26 | &nbsp;&nbsp; 490 | 467103 |
| 3.60%, 02/01/25 | &nbsp;&nbsp; 778 | 774324 |
| 3.60%, 09/01/27 | &nbsp;&nbsp; 105 | 102161 |
| Providence St. Joseph Health Obligated Group, <br> Series 19A, 2.53%, 10/01/29<br>| &nbsp;&nbsp; 450 | 402841 |
| Quest Diagnostics Inc. |  |  |
| 3.45%, 06/01/26 | &nbsp;&nbsp; 485 | 475579 |
| 3.50%, 03/30/25 | &nbsp;&nbsp; 582 | 578572 |
| 4.20%, 06/30/29 | &nbsp;&nbsp; 360 | 350917 |
| UnitedHealth Group Inc. |  |  |
| 3.70%, 05/15/27 | &nbsp;&nbsp; 585 | 575771 |
| 1.15%, 05/15/26 | &nbsp;&nbsp; 795 | 755807 |
| 1.25%, 01/15/26 | &nbsp;&nbsp; 351 | 337808 |
| 2.88%, 08/15/29 | &nbsp;&nbsp; 825 | 763345 |
| 2.95%, 10/15/27 | &nbsp;&nbsp; 745 | 714820 |
| 3.10%, 03/15/26 | &nbsp;&nbsp; 844 | 828699 |
| 3.38%, 04/15/27 | &nbsp;&nbsp; 530 | 516962 |
| 3.45%, 01/15/27 | &nbsp;&nbsp; 660 | 646304 |
| 3.75%, 07/15/25 | &nbsp;&nbsp; 1427 | 1420917 |
| 3.85%, 06/15/28 | &nbsp;&nbsp; 919 | 898370 |
| 3.88%, 12/15/28 | &nbsp;&nbsp; 695 | 676608 |
| 4.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 725 | 706563 |
| 4.25%, 01/15/29 | &nbsp;&nbsp; 686 | 676916 |
| 4.60%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 485 | 487175 |
| 4.75%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 390 | 392354 |
| 5.15%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 555 | 558447 |
| 5.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 810 | 828120 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Universal Health Services Inc. |  |  |
| 1.65%, 09/01/26 | &nbsp;&nbsp; $590 | $555664 |
| 4.63%, 10/15/29 | &nbsp;&nbsp; 350 | 339977 |
|  |  | 51099238 |
| **Holding Companies - Diversified — 1.1%** | **Holding Companies - Diversified — 1.1%** | **Holding Companies - Diversified — 1.1%** |
| Apollo Debt Solutions BDC, 6.90%, 04/13/29<sup>(b)</sup> | &nbsp;&nbsp; 730 | 746595 |
| Ares Capital Corp. |  |  |
| 2.15%, 07/15/26 | &nbsp;&nbsp; 860 | 815409 |
| 2.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 380 | 357646 |
| 2.88%, 06/15/28 | &nbsp;&nbsp; 925 | 844170 |
| 3.25%, 07/15/25 | &nbsp;&nbsp; 805 | 794186 |
| 3.88%, 01/15/26 | &nbsp;&nbsp; 1067 | 1049226 |
| 4.25%, 03/01/25 | &nbsp;&nbsp; 628 | 625764 |
| 5.88%, 03/01/29 | &nbsp;&nbsp; 715 | 720194 |
| 5.95%, 07/15/29 | &nbsp;&nbsp; 635 | 640793 |
| 7.00%, 01/15/27 | &nbsp;&nbsp; 575 | 593834 |
| Ares Strategic Income Fund, 6.35%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 500 | 503614 |
| Blackstone Private Credit Fund |  |  |
| 2.35%, 11/22/24 | &nbsp;&nbsp; 340 | 339385 |
| 2.63%, 12/15/26 | &nbsp;&nbsp; 645 | 607966 |
| 2.70%, 01/15/25 | &nbsp;&nbsp; 435 | 432402 |
| 3.25%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 725 | 686852 |
| 4.00%, 01/15/29 | &nbsp;&nbsp; 495 | 468059 |
| 4.70%, 03/24/25 | &nbsp;&nbsp; 785 | 782658 |
| 5.95%, 07/16/29<sup>(e)</sup> | &nbsp;&nbsp; 305 | 306276 |
| 7.05%, 09/29/25 | &nbsp;&nbsp; 724 | 735013 |
| 7.30%, 11/27/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | 315050 |
| Blackstone Secured Lending Fund |  |  |
| 2.13%, 02/15/27 | &nbsp;&nbsp; 430 | 397837 |
| 2.75%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; 585 | 557473 |
| 2.85%, 09/30/28 | &nbsp;&nbsp; 400 | 361063 |
| 3.63%, 01/15/26 | &nbsp;&nbsp; 855 | 836057 |
| Blue Owl Capital Corp. |  |  |
| 2.63%, 01/15/27 | &nbsp;&nbsp; 330 | 308745 |
| 2.88%, 06/11/28<sup>(a)</sup> | &nbsp;&nbsp; 560 | 505956 |
| 3.40%, 07/15/26 | &nbsp;&nbsp; 872 | 840210 |
| 3.75%, 07/22/25 | &nbsp;&nbsp; 609 | 601991 |
| 4.25%, 01/15/26 | &nbsp;&nbsp; 532 | 523560 |
| 5.95%, 03/15/29 | &nbsp;&nbsp; 420 | 420685 |
| Blue Owl Credit Income Corp. |  |  |
| 6.60%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 315 | 318603 |
| 7.75%, 09/16/27<sup>(a)</sup> | &nbsp;&nbsp; 490 | 510205 |
| 7.75%, 01/15/29 | &nbsp;&nbsp; 410 | 431978 |
| 7.95%, 06/13/28 | &nbsp;&nbsp; 420 | 443257 |
| FS KKR Capital Corp. |  |  |
| 3.13%, 10/12/28<sup>(a)</sup> | &nbsp;&nbsp; 530 | 476541 |
| 3.25%, 07/15/27 | &nbsp;&nbsp; 305 | 286966 |
| 3.40%, 01/15/26 | &nbsp;&nbsp; 964 | 938173 |
| 6.88%, 08/15/29 | &nbsp;&nbsp; 440 | 453073 |
| Golub Capital BDC Inc. |  |  |
| 2.50%, 08/24/26 | &nbsp;&nbsp; 625 | 591782 |
| 6.00%, 07/15/29 | &nbsp;&nbsp; 335 | 334899 |
|  |  | 22504146 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| DR Horton Inc. |  |  |
| 1.30%, 10/15/26 | &nbsp;&nbsp; 530 | 497881 |
| 1.40%, 10/15/27 | &nbsp;&nbsp; 70 | 64259 |
| 2.60%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 413 | 405065 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Builders (continued)** | **Home Builders (continued)** | **Home Builders (continued)** |
| Lennar Corp. |  |  |
| 4.75%, 05/30/25 | &nbsp;&nbsp; $474 | $473958 |
| 4.75%, 11/29/27 | &nbsp;&nbsp; 695 | 696231 |
|  |  | 2137394 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Leggett & Platt Inc. |  |  |
| 3.50%, 11/15/27 | &nbsp;&nbsp; 345 | 327693 |
| 4.40%, 03/15/29 | &nbsp;&nbsp; 315 | 295590 |
| Whirlpool Corp., 4.75%, 02/26/29<sup>(a)</sup> | &nbsp;&nbsp; 510 | 504339 |
|  |  | 1127622 |
| **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** |
| Avery Dennison Corp., 4.88%, 12/06/28 | &nbsp;&nbsp; 390 | 390862 |
| Clorox Co. (The) |  |  |
| 3.90%, 05/15/28 | &nbsp;&nbsp; 485 | 473732 |
| 4.40%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 297053 |
| Kimberly-Clark Corp. |  |  |
| 1.05%, 09/15/27 | &nbsp;&nbsp; 140 | 127313 |
| 3.20%, 04/25/29 | &nbsp;&nbsp; 490 | 464797 |
| 3.95%, 11/01/28 | &nbsp;&nbsp; 320 | 313829 |
|  |  | 2067586 |
| **Insurance — 1.4%** | **Insurance — 1.4%** | **Insurance — 1.4%** |
| Allstate Corp. (The) |  |  |
| 0.75%, 12/15/25 | &nbsp;&nbsp; 507 | 484994 |
| 3.28%, 12/15/26 | &nbsp;&nbsp; 435 | 423548 |
| 5.05%, 06/24/29 | &nbsp;&nbsp; 390 | 392908 |
| American National Group Inc. |  |  |
| 5.00%, 06/15/27 | &nbsp;&nbsp; 365 | 362252 |
| 5.75%, 10/01/29 | &nbsp;&nbsp; 400 | 400847 |
| Aon Corp. |  |  |
| 3.75%, 05/02/29 | &nbsp;&nbsp; 520 | 497728 |
| 8.21%, 01/01/27 | &nbsp;&nbsp; 10 | 10654 |
| Aon Corp./Aon Global Holdings PLC, 2.85%, <br> 05/28/27<br>| &nbsp;&nbsp; 895 | 857315 |
| Aon Global Ltd., 3.88%, 12/15/25 | &nbsp;&nbsp; 600 | 594448 |
| Aon North America Inc. |  |  |
| 5.13%, 03/01/27 | &nbsp;&nbsp; 560 | 566950 |
| 5.15%, 03/01/29 | &nbsp;&nbsp; 720 | 727136 |
| Arch Capital Finance LLC, 4.01%, 12/15/26 | &nbsp;&nbsp; 560 | 551147 |
| Athene Holding Ltd., 4.13%, 01/12/28 | &nbsp;&nbsp; 845 | 823917 |
| Berkshire Hathaway Finance Corp., 2.30%, <br> 03/15/27<br>| &nbsp;&nbsp; 860 | 823301 |
| Berkshire Hathaway Inc., 3.13%, 03/15/26 | &nbsp;&nbsp; 1871 | 1837921 |
| Brighthouse Financial Inc., 3.70%, 06/22/27<sup>(a)</sup> | &nbsp;&nbsp; 485 | 469258 |
| Chubb INA Holdings LLC |  |  |
| 3.15%, 03/15/25 | &nbsp;&nbsp; 530 | 527155 |
| 3.35%, 05/03/26 | &nbsp;&nbsp; 1095 | 1076101 |
| 4.65%, 08/15/29 | &nbsp;&nbsp; 575 | 575146 |
| CNA Financial Corp. |  |  |
| 3.45%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 280 | 270539 |
| 3.90%, 05/01/29 | &nbsp;&nbsp; 300 | 289073 |
| 4.50%, 03/01/26 | &nbsp;&nbsp; 445 | 443036 |
| CNO Financial Group Inc. |  |  |
| 5.25%, 05/30/25 | &nbsp;&nbsp; 339 | 339310 |
| 5.25%, 05/30/29 | &nbsp;&nbsp; 325 | 323255 |
| Corebridge Financial Inc. |  |  |
| 3.50%, 04/04/25 | &nbsp;&nbsp; 690 | 685707 |
| 3.65%, 04/05/27 | &nbsp;&nbsp; 1209 | 1178207 |
| 3.85%, 04/05/29 | &nbsp;&nbsp; 695 | 665013 |
| Enstar Group Ltd., 4.95%, 06/01/29 | &nbsp;&nbsp; 335 | 330558 |
| Equitable Holdings Inc., 4.35%, 04/20/28 | &nbsp;&nbsp; 1280 | 1255580 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| F&G Annuities & Life Inc. |  |  |
| 6.50%, 06/04/29 | &nbsp;&nbsp; $375 | $379770 |
| 7.40%, 01/13/28 | &nbsp;&nbsp; 415 | 431569 |
| Fairfax Financial Holdings Ltd., 4.85%, 04/17/28 | &nbsp;&nbsp; 375 | 373999 |
| Hartford Financial Services Group Inc. (The), <br> 2.80%, 08/19/29<br>| &nbsp;&nbsp; 395 | 360814 |
| Lincoln National Corp., 3.80%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 275 | 265785 |
| Loews Corp., 3.75%, 04/01/26 | &nbsp;&nbsp; 400 | 395231 |
| Manulife Financial Corp. |  |  |
| 2.48%, 05/19/27 | &nbsp;&nbsp; 435 | 412320 |
| 4.15%, 03/04/26<sup>(a)</sup> | &nbsp;&nbsp; 765 | 758789 |
| Marsh & McLennan Companies Inc. |  |  |
| 3.50%, 03/10/25 | &nbsp;&nbsp; 381 | 379195 |
| 3.75%, 03/14/26 | &nbsp;&nbsp; 463 | 457735 |
| 4.38%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1105 | 1091104 |
| 4.55%, 11/08/27 | &nbsp;&nbsp; 600 | 600134 |
| MetLife Inc. |  |  |
| 3.00%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 371 | 368215 |
| 3.60%, 11/13/25 | &nbsp;&nbsp; 449 | 444551 |
| Old Republic International Corp., 3.88%, 08/26/26 | &nbsp;&nbsp; 439 | 431457 |
| Principal Financial Group Inc., 3.70%, 05/15/29 | &nbsp;&nbsp; 310 | 297040 |
| Progressive Corp. (The) |  |  |
| 2.45%, 01/15/27 | &nbsp;&nbsp; 385 | 368739 |
| 2.50%, 03/15/27 | &nbsp;&nbsp; 430 | 410971 |
| 4.00%, 03/01/29 | &nbsp;&nbsp; 375 | 366840 |
| Prudential Financial Inc., 1.50%, 03/10/26 | &nbsp;&nbsp; 350 | 336081 |
| Reinsurance Group of America Inc., 3.90%, <br> 05/15/29<br>| &nbsp;&nbsp; 390 | 374311 |
| Trinity Acquisition PLC, 4.40%, 03/15/26 | &nbsp;&nbsp; 440 | 436816 |
| Willis North America Inc. |  |  |
| 2.95%, 09/15/29 | &nbsp;&nbsp; 580 | 530098 |
| 4.50%, 09/15/28 | &nbsp;&nbsp; 375 | 369363 |
| 4.65%, 06/15/27 | &nbsp;&nbsp; 795 | 792482 |
|  |  | 29216413 |
| **Internet — 1.6%** | **Internet — 1.6%** | **Internet — 1.6%** |
| Alphabet Inc. |  |  |
| 0.45%, 08/15/25 | &nbsp;&nbsp; 699 | 677226 |
| 0.80%, 08/15/27 | &nbsp;&nbsp; 640 | 584729 |
| 2.00%, 08/15/26 | &nbsp;&nbsp; 1620 | 1556360 |
| Amazon.com Inc. |  |  |
| 0.80%, 06/03/25 | &nbsp;&nbsp; 741 | 725058 |
| 1.00%, 05/12/26 | &nbsp;&nbsp; 2130 | 2025944 |
| 1.20%, 06/03/27 | &nbsp;&nbsp; 945 | 873284 |
| 1.65%, 05/12/28 | &nbsp;&nbsp; 1780 | 1618968 |
| 3.00%, 04/13/25 | &nbsp;&nbsp; 790 | 785220 |
| 3.15%, 08/22/27 | &nbsp;&nbsp; 2816 | 2724090 |
| 3.30%, 04/13/27 | &nbsp;&nbsp; 1525 | 1488173 |
| 3.45%, 04/13/29<sup>(a)</sup> | &nbsp;&nbsp; 1125 | 1083261 |
| 3.80%, 12/05/24 | &nbsp;&nbsp; 403 | 402540 |
| 4.55%, 12/01/27 | &nbsp;&nbsp; 1570 | 1578848 |
| 4.60%, 12/01/25 | &nbsp;&nbsp; 1050 | 1053127 |
| 4.70%, 11/29/24 | &nbsp;&nbsp; 980 | 980288 |
| 5.20%, 12/03/25 | &nbsp;&nbsp; 432 | 434928 |
| Booking Holdings Inc. |  |  |
| 3.55%, 03/15/28 | &nbsp;&nbsp; 400 | 387619 |
| 3.60%, 06/01/26 | &nbsp;&nbsp; 832 | 820335 |
| 3.65%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 467 | 464918 |
| eBay Inc. |  |  |
| 1.40%, 05/10/26 | &nbsp;&nbsp; 635 | 603851 |
| 1.90%, 03/11/25<sup>(a)</sup> | &nbsp;&nbsp; 318 | 314585 |
| 3.60%, 06/05/27 | &nbsp;&nbsp; 630 | 616525 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| Expedia Group Inc. |  |  |
| 3.80%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; $880 | $851342 |
| 4.63%, 08/01/27 | &nbsp;&nbsp; 590 | 587537 |
| 5.00%, 02/15/26 | &nbsp;&nbsp; 632 | 633169 |
| Meta Platforms Inc. |  |  |
| 3.50%, 08/15/27 | &nbsp;&nbsp; 2310 | 2258710 |
| 4.30%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 790 | 784487 |
| 4.60%, 05/15/28 | &nbsp;&nbsp; 1230 | 1236370 |
| Netflix Inc. |  |  |
| 4.38%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 960 | 957943 |
| 4.88%, 04/15/28 | &nbsp;&nbsp; 1440 | 1447475 |
| 5.88%, 02/15/25 | &nbsp;&nbsp; 655 | 656855 |
| 5.88%, 11/15/28 | &nbsp;&nbsp; 1375 | 1435097 |
| 6.38%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 555 | 592252 |
| VeriSign Inc. |  |  |
| 4.75%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 490 | 485848 |
| 5.25%, 04/01/25 | &nbsp;&nbsp; 130 | 130037 |
|  |  | 33856999 |
| **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** |
| ArcelorMittal SA |  |  |
| 4.25%, 07/16/29<sup>(a)</sup> | &nbsp;&nbsp; 345 | 336605 |
| 6.55%, 11/29/27 | &nbsp;&nbsp; 1000 | 1040163 |
| Nucor Corp. |  |  |
| 2.00%, 06/01/25 | &nbsp;&nbsp; 520 | 511533 |
| 3.95%, 05/23/25 | &nbsp;&nbsp; 525 | 522876 |
| 4.30%, 05/23/27 | &nbsp;&nbsp; 630 | 627853 |
|  |  | 3039030 |
| **Lodging — 0.5%** | **Lodging — 0.5%** | **Lodging — 0.5%** |
| Las Vegas Sands Corp. |  |  |
| 2.90%, 06/25/25 | &nbsp;&nbsp; 225 | 221609 |
| 3.50%, 08/18/26 | &nbsp;&nbsp; 525 | 510564 |
| 3.90%, 08/08/29 | &nbsp;&nbsp; 513 | 479460 |
| 5.90%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 555 | 563613 |
| 6.00%, 08/15/29 | &nbsp;&nbsp; 350 | 356724 |
| Marriott International Inc./MD |  |  |
| 4.88%, 05/15/29 | &nbsp;&nbsp; 330 | 330290 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 700 | 701499 |
| 5.00%, 10/15/27 | &nbsp;&nbsp; 785 | 792518 |
| 5.55%, 10/15/28 | &nbsp;&nbsp; 575 | 591033 |
| Series EE, 5.75%, 05/01/25 | &nbsp;&nbsp; 538 | 540281 |
| Series R, 3.13%, 06/15/26 | &nbsp;&nbsp; 620 | 605283 |
| Sands China Ltd. |  |  |
| 2.30%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 530 | 493115 |
| 2.85%, 03/08/29 | &nbsp;&nbsp; 515 | 461881 |
| 3.80%, 01/08/26 | &nbsp;&nbsp; 620 | 607893 |
| 5.13%, 08/08/25 | &nbsp;&nbsp; 1270 | 1266251 |
| 5.40%, 08/08/28 | &nbsp;&nbsp; 1430 | 1423705 |
|  |  | 9945719 |
| **Machinery — 1.9%** | **Machinery — 1.9%** | **Machinery — 1.9%** |
| Caterpillar Financial Services Corp. |  |  |
| 0.80%, 11/13/25 | &nbsp;&nbsp; 771 | 742698 |
| 0.90%, 03/02/26 | &nbsp;&nbsp; 570 | 544788 |
| 1.10%, 09/14/27<sup>(a)</sup> | &nbsp;&nbsp; 400 | 365653 |
| 1.15%, 09/14/26<sup>(a)</sup> | &nbsp;&nbsp; 443 | 417592 |
| 1.45%, 05/15/25 | &nbsp;&nbsp; 449 | 441962 |
| 1.70%, 01/08/27 | &nbsp;&nbsp; 445 | 420113 |
| 2.15%, 11/08/24 | &nbsp;&nbsp; 845 | 844481 |
| 3.25%, 12/01/24 | &nbsp;&nbsp; 576 | 575001 |
| 3.40%, 05/13/25<sup>(a)</sup> | &nbsp;&nbsp; 965 | 959013 |
| 3.60%, 08/12/27 | &nbsp;&nbsp; 565 | 554630 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| 3.65%, 08/12/25 | &nbsp;&nbsp; $670 | $665259 |
| 4.35%, 05/15/26 | &nbsp;&nbsp; 1015 | 1015528 |
| 4.38%, 08/16/29<sup>(a)</sup> | &nbsp;&nbsp; 460 | 455886 |
| 4.40%, 10/15/27 | &nbsp;&nbsp; 325 | 324509 |
| 4.45%, 10/16/26 | &nbsp;&nbsp; 320 | 320330 |
| 4.50%, 01/08/27 | &nbsp;&nbsp; 285 | 285738 |
| 4.80%, 01/06/26 | &nbsp;&nbsp; 735 | 737903 |
| 4.85%, 02/27/29<sup>(a)</sup> | &nbsp;&nbsp; 430 | 434816 |
| 4.90%, 01/17/25 | &nbsp;&nbsp; 655 | 654983 |
| 5.00%, 05/14/27 | &nbsp;&nbsp; 570 | 578043 |
| 5.05%, 02/27/26<sup>(a)</sup> | &nbsp;&nbsp; 500 | 504273 |
| 5.15%, 08/11/25 | &nbsp;&nbsp; 670 | 674106 |
| 5.40%, 03/10/25 | &nbsp;&nbsp; 480 | 481672 |
| Caterpillar Inc., 2.60%, 09/19/29 | &nbsp;&nbsp; 305 | 279078 |
| CNH Industrial Capital LLC |  |  |
| 1.45%, 07/15/26 | &nbsp;&nbsp; 555 | 524069 |
| 1.88%, 01/15/26 | &nbsp;&nbsp; 465 | 448323 |
| 3.95%, 05/23/25 | &nbsp;&nbsp; 620 | 617441 |
| 4.50%, 10/08/27 | &nbsp;&nbsp; 100 | 99232 |
| 4.55%, 04/10/28 | &nbsp;&nbsp; 495 | 491864 |
| 5.10%, 04/20/29 | &nbsp;&nbsp; 385 | 388239 |
| 5.50%, 01/12/29 | &nbsp;&nbsp; 425 | 434115 |
| Deere & Co. |  |  |
| 2.75%, 04/15/25 | &nbsp;&nbsp; 550 | 545077 |
| 5.38%, 10/16/29 | &nbsp;&nbsp; 370 | 383886 |
| IDEX Corp., 4.95%, 09/01/29 | &nbsp;&nbsp; 400 | 401745 |
| Ingersoll Rand Inc. |  |  |
| 5.18%, 06/15/29 | &nbsp;&nbsp; 575 | 582781 |
| 5.20%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 435 | 440577 |
| 5.40%, 08/14/28 | &nbsp;&nbsp; 425 | 434491 |
| John Deere Capital Corp. |  |  |
| 0.70%, 01/15/26 | &nbsp;&nbsp; 825 | 789324 |
| 1.05%, 06/17/26<sup>(a)</sup> | &nbsp;&nbsp; 560 | 530866 |
| 1.25%, 01/10/25 | &nbsp;&nbsp; 630 | 625379 |
| 1.50%, 03/06/28 | &nbsp;&nbsp; 340 | 308164 |
| 1.70%, 01/11/27 | &nbsp;&nbsp; 545 | 514348 |
| 1.75%, 03/09/27 | &nbsp;&nbsp; 500 | 470602 |
| 2.05%, 01/09/25 | &nbsp;&nbsp; 284 | 282303 |
| 2.35%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 540 | 515136 |
| 2.65%, 06/10/26 | &nbsp;&nbsp; 425 | 413727 |
| 2.80%, 09/08/27 | &nbsp;&nbsp; 88 | 84170 |
| 2.80%, 07/18/29<sup>(a)</sup> | &nbsp;&nbsp; 480 | 444441 |
| 3.35%, 04/18/29 | &nbsp;&nbsp; 400 | 381682 |
| 3.40%, 06/06/25 | &nbsp;&nbsp; 575 | 570668 |
| 3.45%, 03/13/25<sup>(a)</sup> | &nbsp;&nbsp; 266 | 264422 |
| 3.45%, 03/07/29 | &nbsp;&nbsp; 400 | 382510 |
| 4.05%, 09/08/25 | &nbsp;&nbsp; 610 | 607291 |
| 4.15%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 890 | 884604 |
| 4.20%, 07/15/27 | &nbsp;&nbsp; 265 | 263377 |
| 4.50%, 01/08/27 | &nbsp;&nbsp; 430 | 430801 |
| 4.50%, 01/16/29 | &nbsp;&nbsp; 770 | 768281 |
| 4.75%, 06/08/26 | &nbsp;&nbsp; 600 | 603168 |
| 4.75%, 01/20/28<sup>(a)</sup> | &nbsp;&nbsp; 615 | 620243 |
| 4.80%, 01/09/26<sup>(a)</sup> | &nbsp;&nbsp; 725 | 727833 |
| 4.85%, 03/05/27<sup>(a)</sup> | &nbsp;&nbsp; 360 | 363157 |
| 4.85%, 06/11/29 | &nbsp;&nbsp; 685 | 690290 |
| 4.90%, 06/11/27 | &nbsp;&nbsp; 510 | 516019 |
| 4.90%, 03/03/28<sup>(a)</sup> | &nbsp;&nbsp; 670 | 677408 |
| 4.95%, 06/06/25 | &nbsp;&nbsp; 475 | 476170 |
| 4.95%, 07/14/28 | &nbsp;&nbsp; 1280 | 1297604 |
| 5.05%, 03/03/26 | &nbsp;&nbsp; 555 | 559293 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| 5.15%, 03/03/25<sup>(a)</sup> | &nbsp;&nbsp; $50 | $50035 |
| 5.15%, 09/08/26 | &nbsp;&nbsp; 215 | 218056 |
| nVent Finance SARL, 4.55%, 04/15/28 | &nbsp;&nbsp; 425 | 421199 |
| Otis Worldwide Corp. |  |  |
| 2.06%, 04/05/25 | &nbsp;&nbsp; 895 | 883790 |
| 2.29%, 04/05/27 | &nbsp;&nbsp; 390 | 369791 |
| 5.25%, 08/16/28 | &nbsp;&nbsp; 615 | 626175 |
| Westinghouse Air Brake Technologies Corp. |  |  |
| 3.20%, 06/15/25 | &nbsp;&nbsp; 521 | 514193 |
| 3.45%, 11/15/26 | &nbsp;&nbsp; 695 | 677787 |
| 4.70%, 09/15/28 | &nbsp;&nbsp; 970 | 965563 |
| Xylem Inc./New York |  |  |
| 1.95%, 01/30/28 | &nbsp;&nbsp; 205 | 189061 |
| 3.25%, 11/01/26 | &nbsp;&nbsp; 470 | 456378 |
|  |  | 40505204 |
| **Manufacturing — 0.5%** | **Manufacturing — 0.5%** | **Manufacturing — 0.5%** |
| 3M Co. |  |  |
| 2.00%, 02/14/25 | &nbsp;&nbsp; 589 | 584498 |
| 2.25%, 09/19/26 | &nbsp;&nbsp; 595 | 568906 |
| 2.38%, 08/26/29 | &nbsp;&nbsp; 695 | 625551 |
| 2.65%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 468 | 462833 |
| 2.88%, 10/15/27 | &nbsp;&nbsp; 490 | 466932 |
| 3.00%, 08/07/25<sup>(a)</sup> | &nbsp;&nbsp; 440 | 434452 |
| 3.38%, 03/01/29 | &nbsp;&nbsp; 550 | 521308 |
| 3.63%, 09/14/28<sup>(a)</sup> | &nbsp;&nbsp; 510 | 492419 |
| Carlisle Companies Inc., 3.75%, 12/01/27 | &nbsp;&nbsp; 135 | 131247 |
| Eaton Corp. |  |  |
| 3.10%, 09/15/27 | &nbsp;&nbsp; 205 | 197719 |
| 4.35%, 05/18/28 | &nbsp;&nbsp; 485 | 483103 |
| Illinois Tool Works Inc., 2.65%, 11/15/26 | &nbsp;&nbsp; 842 | 813837 |
| Parker-Hannifin Corp. |  |  |
| 3.25%, 03/01/27 | &nbsp;&nbsp; 475 | 461032 |
| 3.25%, 06/14/29 | &nbsp;&nbsp; 730 | 685489 |
| 3.30%, 11/21/24 | &nbsp;&nbsp; 604 | 603263 |
| 4.25%, 09/15/27 | &nbsp;&nbsp; 790 | 782548 |
| 4.50%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 780 | 773964 |
| Teledyne Technologies Inc., 2.25%, 04/01/28 | &nbsp;&nbsp; 550 | 507267 |
|  |  | 9596368 |
| **Media — 1.6%** | **Media — 1.6%** | **Media — 1.6%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| 2.25%, 01/15/29 | &nbsp;&nbsp; 900 | 790232 |
| 3.75%, 02/15/28 | &nbsp;&nbsp; 930 | 885621 |
| 4.20%, 03/15/28 | &nbsp;&nbsp; 1142 | 1100445 |
| 4.91%, 07/23/25 | &nbsp;&nbsp; 888 | 887003 |
| 5.05%, 03/30/29 | &nbsp;&nbsp; 925 | 906474 |
| 6.10%, 06/01/29 | &nbsp;&nbsp; 1045 | 1067767 |
| 6.15%, 11/10/26 | &nbsp;&nbsp; 970 | 990785 |
| Comcast Corp. |  |  |
| 2.35%, 01/15/27 | &nbsp;&nbsp; 1299 | 1240350 |
| 3.15%, 03/01/26 | &nbsp;&nbsp; 1605 | 1575066 |
| 3.15%, 02/15/28 | &nbsp;&nbsp; 1620 | 1547109 |
| 3.30%, 02/01/27 | &nbsp;&nbsp; 1158 | 1128532 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 675 | 656461 |
| 3.38%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 772 | 764260 |
| 3.55%, 05/01/28 | &nbsp;&nbsp; 227 | 218874 |
| 3.95%, 10/15/25 | &nbsp;&nbsp; 1245 | 1238405 |
| 4.15%, 10/15/28 | &nbsp;&nbsp; 3215 | 3153157 |
| 4.55%, 01/15/29 | &nbsp;&nbsp; 95 | 94637 |
| 5.10%, 06/01/29 | &nbsp;&nbsp; 750 | 761905 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| 5.35%, 11/15/27 | &nbsp;&nbsp; $540 | $552959 |
| Discovery Communications LLC |  |  |
| 3.95%, 03/20/28 | &nbsp;&nbsp; 1377 | 1301594 |
| 4.13%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 580 | 538368 |
| 4.90%, 03/11/26 | &nbsp;&nbsp; 610 | 606536 |
| FactSet Research Systems Inc., 2.90%, 03/01/27 | &nbsp;&nbsp; 440 | 421797 |
| Fox Corp. |  |  |
| 3.05%, 04/07/25 | &nbsp;&nbsp; 564 | 560074 |
| 4.71%, 01/25/29 | &nbsp;&nbsp; 1375 | 1367043 |
| Paramount Global |  |  |
| 2.90%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 471 | 447701 |
| 3.38%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 170 | 158714 |
| 3.70%, 06/01/28 | &nbsp;&nbsp; 305 | 285581 |
| 4.20%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 280681 |
| Thomson Reuters Corp., 3.35%, 05/15/26 | &nbsp;&nbsp; 515 | 504678 |
| TWDC Enterprises 18 Corp. |  |  |
| 1.85%, 07/30/26 | &nbsp;&nbsp; 876 | 837519 |
| 2.95%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 635 | 610807 |
| 3.00%, 02/13/26 | &nbsp;&nbsp; 879 | 862014 |
| 3.15%, 09/17/25 | &nbsp;&nbsp; 590 | 583171 |
| Walt Disney Co. (The) |  |  |
| 1.75%, 01/13/26 | &nbsp;&nbsp; 1218 | 1178442 |
| 2.00%, 09/01/29 | &nbsp;&nbsp; 1450 | 1287368 |
| 2.20%, 01/13/28<sup>(a)</sup> | &nbsp;&nbsp; 295 | 275416 |
| 3.35%, 03/24/25<sup>(a)</sup> | &nbsp;&nbsp; 749 | 744416 |
| 3.70%, 10/15/25 | &nbsp;&nbsp; 606 | 601857 |
| 3.70%, 03/23/27 | &nbsp;&nbsp; 625 | 615354 |
|  |  | 33629173 |
| **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** |
| Precision Castparts Corp., 3.25%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 828 | 821569 |
| **Mining — 0.3%** | **Mining — 0.3%** | **Mining — 0.3%** |
| BHP Billiton Finance USA Ltd. |  |  |
| 4.75%, 02/28/28 | &nbsp;&nbsp; 835 | 839630 |
| 4.88%, 02/27/26<sup>(a)</sup> | &nbsp;&nbsp; 875 | 878442 |
| 5.10%, 09/08/28 | &nbsp;&nbsp; 645 | 655068 |
| 5.25%, 09/08/26 | &nbsp;&nbsp; 750 | 759074 |
| Freeport-McMoRan Inc., 4.55%, 11/14/24 | &nbsp;&nbsp; 515 | 514792 |
| Kinross Gold Corp., 4.50%, 07/15/27 | &nbsp;&nbsp; 205 | 202877 |
| Newmont Corp., 2.80%, 10/01/29 | &nbsp;&nbsp; 535 | 489522 |
| Newmont Corp./Newcrest Finance Pty. Ltd., <br> 5.30%, 03/15/26<br>| &nbsp;&nbsp; 665 | 670911 |
| Rio Tinto Finance USA Ltd., 7.13%, 07/15/28 | &nbsp;&nbsp; 830 | 897865 |
|  |  | 5908181 |
| **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** |
| CDW LLC/CDW Finance Corp. |  |  |
| 2.67%, 12/01/26 | &nbsp;&nbsp; 770 | 736377 |
| 3.25%, 02/15/29 | &nbsp;&nbsp; 485 | 448106 |
| 3.28%, 12/01/28 | &nbsp;&nbsp; 380 | 353864 |
| 4.25%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 430 | 419303 |
|  |  | 1957650 |
| **Oil & Gas — 2.4%** | **Oil & Gas — 2.4%** | **Oil & Gas — 2.4%** |
| BP Capital Markets America Inc. |  |  |
| 3.02%, 01/16/27 | &nbsp;&nbsp; 688 | 665729 |
| 3.12%, 05/04/26 | &nbsp;&nbsp; 827 | 809593 |
| 3.41%, 02/11/26 | &nbsp;&nbsp; 840 | 828324 |
| 3.54%, 04/06/27 | &nbsp;&nbsp; 375 | 366510 |
| 3.59%, 04/14/27 | &nbsp;&nbsp; 525 | 512718 |
| 3.80%, 09/21/25<sup>(a)</sup> | &nbsp;&nbsp; 780 | 775195 |
| 3.94%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; 1065 | 1035203 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| 4.23%, 11/06/28 | &nbsp;&nbsp; $1655 | $1628870 |
| 4.70%, 04/10/29<sup>(a)</sup> | &nbsp;&nbsp; 925 | 921922 |
| 4.97%, 10/17/29 | &nbsp;&nbsp; 555 | 559429 |
| 5.02%, 11/17/27 | &nbsp;&nbsp; 655 | 663971 |
| BP Capital Markets PLC |  |  |
| 3.28%, 09/19/27 | &nbsp;&nbsp; 922 | 890829 |
| 3.72%, 11/28/28 | &nbsp;&nbsp; 215 | 207234 |
| Canadian Natural Resources Ltd. |  |  |
| 2.05%, 07/15/25 | &nbsp;&nbsp; 562 | 550622 |
| 3.85%, 06/01/27 | &nbsp;&nbsp; 1000 | 977590 |
| 3.90%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 478 | 476358 |
| Chevron Corp. |  |  |
| 1.55%, 05/11/25 | &nbsp;&nbsp; 1304 | 1284462 |
| 2.00%, 05/11/27 | &nbsp;&nbsp; 1005 | 948140 |
| 2.95%, 05/16/26 | &nbsp;&nbsp; 1810 | 1771974 |
| 3.33%, 11/17/25 | &nbsp;&nbsp; 864 | 853696 |
| Chevron USA Inc. |  |  |
| 0.69%, 08/12/25 | &nbsp;&nbsp; 523 | 507733 |
| 1.02%, 08/12/27 | &nbsp;&nbsp; 490 | 448272 |
| 3.85%, 01/15/28 | &nbsp;&nbsp; 160 | 157732 |
| 3.90%, 11/15/24 | &nbsp;&nbsp; 547 | 546637 |
| ConocoPhillips Co., 6.95%, 04/15/29 | &nbsp;&nbsp; 840 | 919297 |
| Continental Resources Inc./OK, 4.38%, 01/15/28 | &nbsp;&nbsp; 765 | 741847 |
| Coterra Energy Inc., 3.90%, 05/15/27 | &nbsp;&nbsp; 30 | 29221 |
| Diamondback Energy Inc. |  |  |
| 3.25%, 12/01/26 | &nbsp;&nbsp; 655 | 635818 |
| 5.20%, 04/18/27 | &nbsp;&nbsp; 635 | 640955 |
| EOG Resources Inc. |  |  |
| 3.15%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 495 | 491411 |
| 4.15%, 01/15/26 | &nbsp;&nbsp; 760 | 755446 |
| EQT Corp. |  |  |
| 3.90%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 950 | 924023 |
| 5.70%, 04/01/28 | &nbsp;&nbsp; 305 | 310787 |
| Equinor ASA |  |  |
| 1.75%, 01/22/26 | &nbsp;&nbsp; 290 | 280626 |
| 2.88%, 04/06/25<sup>(a)</sup> | &nbsp;&nbsp; 704 | 697992 |
| 3.00%, 04/06/27<sup>(a)</sup> | &nbsp;&nbsp; 250 | 242164 |
| 3.25%, 11/10/24 | &nbsp;&nbsp; 220 | 219929 |
| 3.63%, 09/10/28 | &nbsp;&nbsp; 700 | 678485 |
| Exxon Mobil Corp. |  |  |
| 2.28%, 08/16/26 | &nbsp;&nbsp; 850 | 819681 |
| 2.44%, 08/16/29<sup>(a)</sup> | &nbsp;&nbsp; 950 | 867050 |
| 2.71%, 03/06/25<sup>(a)</sup> | &nbsp;&nbsp; 1140 | 1131853 |
| 2.99%, 03/19/25 | &nbsp;&nbsp; 1073 | 1064434 |
| 3.04%, 03/01/26 | &nbsp;&nbsp; 1985 | 1948518 |
| 3.29%, 03/19/27 | &nbsp;&nbsp; 775 | 758896 |
| Hess Corp., 4.30%, 04/01/27 | &nbsp;&nbsp; 792 | 784438 |
| Marathon Oil Corp. |  |  |
| 4.40%, 07/15/27 | &nbsp;&nbsp; 805 | 798425 |
| 5.30%, 04/01/29 | &nbsp;&nbsp; 410 | 417423 |
| Marathon Petroleum Corp. |  |  |
| 4.70%, 05/01/25 | &nbsp;&nbsp; 1036 | 1034892 |
| 5.13%, 12/15/26 | &nbsp;&nbsp; 615 | 618409 |
| Occidental Petroleum Corp. |  |  |
| 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 635 | 635246 |
| 5.20%, 08/01/29 | &nbsp;&nbsp; 1115 | 1110899 |
| 5.55%, 03/15/26 | &nbsp;&nbsp; 225 | 226425 |
| 5.88%, 09/01/25 | &nbsp;&nbsp; 170 | 170615 |
| 6.38%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 415 | 429582 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Ovintiv Inc. |  |  |
| 5.65%, 05/15/25 | &nbsp;&nbsp; $615 | $617132 |
| 5.65%, 05/15/28 | &nbsp;&nbsp; 540 | 547618 |
| Phillips 66 |  |  |
| 1.30%, 02/15/26 | &nbsp;&nbsp; 510 | 488865 |
| 3.85%, 04/09/25 | &nbsp;&nbsp; 581 | 577869 |
| 3.90%, 03/15/28 | &nbsp;&nbsp; 670 | 651923 |
| Phillips 66 Co., 4.95%, 12/01/27 | &nbsp;&nbsp; 535 | 539799 |
| Pioneer Natural Resources Co. |  |  |
| 1.13%, 01/15/26 | &nbsp;&nbsp; 775 | 744544 |
| 5.10%, 03/29/26 | &nbsp;&nbsp; 415 | 418095 |
| Shell International Finance BV |  |  |
| 2.00%, 11/07/24 | &nbsp;&nbsp; 358 | 357771 |
| 2.50%, 09/12/26 | &nbsp;&nbsp; 855 | 824000 |
| 2.88%, 05/10/26 | &nbsp;&nbsp; 1595 | 1557616 |
| 3.25%, 05/11/25 | &nbsp;&nbsp; 1410 | 1400765 |
| 3.88%, 11/13/28 | &nbsp;&nbsp; 1030 | 1003781 |
| TotalEnergies Capital International SA |  |  |
| 2.43%, 01/10/25 | &nbsp;&nbsp; 609 | 605637 |
| 3.46%, 02/19/29 | &nbsp;&nbsp; 920 | 881209 |
| TotalEnergies Capital SA, 3.88%, 10/11/28 | &nbsp;&nbsp; 695 | 677891 |
| Valero Energy Corp. |  |  |
| 2.15%, 09/15/27 | &nbsp;&nbsp; 160 | 149425 |
| 4.35%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 505 | 497559 |
|  |  | 51315029 |
| **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc.<br>|  |  |
| 2.06%, 12/15/26 | &nbsp;&nbsp; 530 | 504236 |
| 3.34%, 12/15/27 | &nbsp;&nbsp; 1075 | 1034145 |
| Schlumberger Finance Canada Ltd., 1.40%, <br> 09/17/25<sup>(a)</sup><br>| &nbsp;&nbsp; 565 | 550498 |
| Schlumberger Investment SA, 4.50%, 05/15/28 | &nbsp;&nbsp; 425 | 424074 |
|  |  | 2512953 |
| **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |
| Amcor Finance USA Inc., 3.63%, 04/28/26 | &nbsp;&nbsp; 610 | 598928 |
| Amcor Flexibles North America Inc., 4.00%, <br> 05/17/25<br>| &nbsp;&nbsp; 541 | 537160 |
| Amcor Group Finance PLC, 5.45%, 05/23/29 | &nbsp;&nbsp; 300 | 304421 |
| Berry Global Inc. |  |  |
| 1.57%, 01/15/26 | &nbsp;&nbsp; 925 | 887675 |
| 5.50%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 425 | 429018 |
| Packaging Corp. of America, 3.40%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 25 | 24072 |
| Sonoco Products Co. |  |  |
| 4.45%, 09/01/26 | &nbsp;&nbsp; 125 | 124163 |
| 4.60%, 09/01/29 | &nbsp;&nbsp; 410 | 399525 |
| WRKCo Inc. |  |  |
| 3.38%, 09/15/27 | &nbsp;&nbsp; 80 | 76918 |
| 3.75%, 03/15/25 | &nbsp;&nbsp; 727 | 722852 |
| 3.90%, 06/01/28 | &nbsp;&nbsp; 190 | 183265 |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 670 | 650846 |
| 4.65%, 03/15/26 | &nbsp;&nbsp; 795 | 791570 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 585 | 582778 |
|  |  | 6313191 |
| **Pharmaceuticals — 4.6%** | **Pharmaceuticals — 4.6%** | **Pharmaceuticals — 4.6%** |
| AbbVie Inc. |  |  |
| 2.60%, 11/21/24 | &nbsp;&nbsp; 2465 | 2461527 |
| 2.95%, 11/21/26 | &nbsp;&nbsp; 3055 | 2961555 |
| 3.20%, 05/14/26 | &nbsp;&nbsp; 1630 | 1599200 |
| 3.60%, 05/14/25 | &nbsp;&nbsp; 2030 | 2017557 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 3.80%, 03/15/25 | &nbsp;&nbsp; $1760 | $1753058 |
| 4.25%, 11/14/28<sup>(a)</sup> | &nbsp;&nbsp; 1320 | 1307731 |
| 4.80%, 03/15/27 | &nbsp;&nbsp; 1775 | 1786339 |
| 4.80%, 03/15/29 | &nbsp;&nbsp; 1825 | 1838402 |
| Astrazeneca Finance LLC |  |  |
| 1.20%, 05/28/26 | &nbsp;&nbsp; 652 | 620332 |
| 1.75%, 05/28/28 | &nbsp;&nbsp; 1020 | 928411 |
| 4.80%, 02/26/27 | &nbsp;&nbsp; 810 | 817040 |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 1075 | 1084583 |
| 4.88%, 03/03/28 | &nbsp;&nbsp; 920 | 929023 |
| AstraZeneca PLC |  |  |
| 0.70%, 04/08/26 | &nbsp;&nbsp; 560 | 531466 |
| 3.13%, 06/12/27 | &nbsp;&nbsp; 360 | 348981 |
| 3.38%, 11/16/25 | &nbsp;&nbsp; 1727 | 1708199 |
| 4.00%, 01/17/29 | &nbsp;&nbsp; 650 | 636574 |
| Becton Dickinson & Co. |  |  |
| 3.70%, 06/06/27 | &nbsp;&nbsp; 1385 | 1353118 |
| 3.73%, 12/15/24 | &nbsp;&nbsp; 610 | 609089 |
| 4.69%, 02/13/28<sup>(a)</sup> | &nbsp;&nbsp; 680 | 679631 |
| 4.87%, 02/08/29 | &nbsp;&nbsp; 300 | 300028 |
| 5.08%, 06/07/29 | &nbsp;&nbsp; 465 | 470237 |
| Bristol-Myers Squibb Co. |  |  |
| 0.75%, 11/13/25 | &nbsp;&nbsp; 805 | 774369 |
| 1.13%, 11/13/27<sup>(a)</sup> | &nbsp;&nbsp; 440 | 398674 |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 1394 | 1367395 |
| 3.25%, 02/27/27 | &nbsp;&nbsp; 580 | 565165 |
| 3.40%, 07/26/29<sup>(a)</sup> | &nbsp;&nbsp; 1785 | 1694635 |
| 3.45%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 600 | 584170 |
| 3.88%, 08/15/25 | &nbsp;&nbsp; 75 | 74545 |
| 3.90%, 02/20/28 | &nbsp;&nbsp; 1300 | 1276144 |
| 4.90%, 02/22/27 | &nbsp;&nbsp; 415 | 418855 |
| 4.90%, 02/22/29<sup>(a)</sup> | &nbsp;&nbsp; 1345 | 1361201 |
| 4.95%, 02/20/26 | &nbsp;&nbsp; 740 | 744661 |
| Cardinal Health Inc. |  |  |
| 3.41%, 06/15/27 | &nbsp;&nbsp; 855 | 828440 |
| 3.75%, 09/15/25 | &nbsp;&nbsp; 520 | 516178 |
| 5.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 510 | 514693 |
| Cencora Inc. |  |  |
| 3.25%, 03/01/25 | &nbsp;&nbsp; 515 | 512583 |
| 3.45%, 12/15/27 | &nbsp;&nbsp; 255 | 246088 |
| CVS Health Corp. |  |  |
| 1.30%, 08/21/27 | &nbsp;&nbsp; 1790 | 1622319 |
| 2.88%, 06/01/26 | &nbsp;&nbsp; 1354 | 1311952 |
| 3.00%, 08/15/26 | &nbsp;&nbsp; 595 | 575828 |
| 3.25%, 08/15/29 | &nbsp;&nbsp; 1275 | 1171444 |
| 3.63%, 04/01/27 | &nbsp;&nbsp; 605 | 587191 |
| 3.88%, 07/20/25 | &nbsp;&nbsp; 2182 | 2165877 |
| 4.10%, 03/25/25 | &nbsp;&nbsp; 712 | 709939 |
| 4.30%, 03/25/28 | &nbsp;&nbsp; 3655 | 3558890 |
| 5.00%, 02/20/26 | &nbsp;&nbsp; 1146 | 1146125 |
| 5.00%, 01/30/29 | &nbsp;&nbsp; 710 | 707500 |
| 5.40%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 915 | 923020 |
| Eli Lilly & Co. |  |  |
| 2.75%, 06/01/25 | &nbsp;&nbsp; 522 | 516631 |
| 3.38%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 610 | 583808 |
| 4.15%, 08/14/27 | &nbsp;&nbsp; 610 | 607425 |
| 4.20%, 08/14/29 | &nbsp;&nbsp; 805 | 793672 |
| 4.50%, 02/09/27 | &nbsp;&nbsp; 840 | 841659 |
| 4.50%, 02/09/29 | &nbsp;&nbsp; 810 | 810511 |
| 5.00%, 02/27/26 | &nbsp;&nbsp; 560 | 560179 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| GlaxoSmithKline Capital Inc. |  |  |
| 3.63%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; $883 | $878218 |
| 3.88%, 05/15/28 | &nbsp;&nbsp; 1455 | 1425307 |
| GlaxoSmithKline Capital PLC, 3.38%, 06/01/29 | &nbsp;&nbsp; 727 | 691402 |
| Johnson & Johnson |  |  |
| 0.55%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 777 | 753024 |
| 0.95%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; 980 | 896099 |
| 2.45%, 03/01/26 | &nbsp;&nbsp; 1735 | 1691887 |
| 2.63%, 01/15/25 | &nbsp;&nbsp; 231 | 230122 |
| 2.90%, 01/15/28 | &nbsp;&nbsp; 1375 | 1318934 |
| 2.95%, 03/03/27 | &nbsp;&nbsp; 910 | 883801 |
| 4.80%, 06/01/29 | &nbsp;&nbsp; 820 | 833042 |
| McKesson Corp. |  |  |
| 0.90%, 12/03/25 | &nbsp;&nbsp; 465 | 446945 |
| 1.30%, 08/15/26 | &nbsp;&nbsp; 445 | 420425 |
| 4.25%, 09/15/29 | &nbsp;&nbsp; 380 | 372423 |
| Mead Johnson Nutrition Co., 4.13%, 11/15/25 | &nbsp;&nbsp; 749 | 745449 |
| Merck & Co. Inc. |  |  |
| 0.75%, 02/24/26 | &nbsp;&nbsp; 934 | 891058 |
| 1.70%, 06/10/27 | &nbsp;&nbsp; 1210 | 1133208 |
| 1.90%, 12/10/28<sup>(a)</sup> | &nbsp;&nbsp; 770 | 697211 |
| 2.75%, 02/10/25 | &nbsp;&nbsp; 1070 | 1064101 |
| 3.40%, 03/07/29 | &nbsp;&nbsp; 1225 | 1171617 |
| 4.05%, 05/17/28<sup>(a)</sup> | &nbsp;&nbsp; 450 | 446317 |
| Mylan Inc., 4.55%, 04/15/28 | &nbsp;&nbsp; 744 | 729976 |
| Novartis Capital Corp. |  |  |
| 1.75%, 02/14/25<sup>(a)</sup> | &nbsp;&nbsp; 586 | 580865 |
| 2.00%, 02/14/27 | &nbsp;&nbsp; 590 | 561328 |
| 3.00%, 11/20/25 | &nbsp;&nbsp; 1468 | 1447944 |
| 3.10%, 05/17/27 | &nbsp;&nbsp; 945 | 918265 |
| 3.80%, 09/18/29 | &nbsp;&nbsp; 789 | 763783 |
| Pfizer Inc. |  |  |
| 0.80%, 05/28/25 | &nbsp;&nbsp; 629 | 616240 |
| 2.75%, 06/03/26 | &nbsp;&nbsp; 958 | 933081 |
| 3.00%, 12/15/26 | &nbsp;&nbsp; 1390 | 1349815 |
| 3.45%, 03/15/29 | &nbsp;&nbsp; 1210 | 1159030 |
| 3.60%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 950 | 922873 |
| Pfizer Investment Enterprises Pte Ltd. |  |  |
| 4.45%, 05/19/26 | &nbsp;&nbsp; 1835 | 1831893 |
| 4.45%, 05/19/28 | &nbsp;&nbsp; 2975 | 2962404 |
| 4.65%, 05/19/25<sup>(a)</sup> | &nbsp;&nbsp; 2364 | 2361932 |
| Pharmacia LLC, 6.60%, 12/01/28 | &nbsp;&nbsp; 380 | 406693 |
| Sanofi SA, 3.63%, 06/19/28 | &nbsp;&nbsp; 790 | 768607 |
| Shire Acquisitions Investments Ireland DAC, <br> 3.20%, 09/23/26<br>| &nbsp;&nbsp; 62 | 60536 |
| Takeda Pharmaceutical Co. Ltd., 5.00%, 11/26/28 | &nbsp;&nbsp; 1415 | 1427192 |
| Utah Acquisition Sub Inc., 3.95%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1230 | 1209746 |
| Viatris Inc., 2.30%, 06/22/27<sup>(a)</sup> | &nbsp;&nbsp; 615 | 573366 |
| Zoetis Inc. |  |  |
| 3.00%, 09/12/27 | &nbsp;&nbsp; 355 | 340127 |
| 3.90%, 08/20/28 | &nbsp;&nbsp; 204 | 198696 |
| 4.50%, 11/13/25 | &nbsp;&nbsp; 815 | 812944 |
| 5.40%, 11/14/25 | &nbsp;&nbsp; 420 | 422642 |
|  |  | 98164415 |
| **Pipelines — 3.0%** | **Pipelines — 3.0%** | **Pipelines — 3.0%** |
| Boardwalk Pipelines LP |  |  |
| 4.45%, 07/15/27 | &nbsp;&nbsp; 280 | 276956 |
| 4.80%, 05/03/29<sup>(a)</sup> | &nbsp;&nbsp; 340 | 336108 |
| 4.95%, 12/15/24 | &nbsp;&nbsp; 378 | 377325 |
| 5.95%, 06/01/26 | &nbsp;&nbsp; 580 | 586537 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Cheniere Corpus Christi Holdings LLC, 5.13%, <br> 06/30/27<br>| &nbsp;&nbsp; $985 | $991446 |
| Cheniere Energy Inc., 4.63%, 10/15/28 | &nbsp;&nbsp; 1390 | 1361658 |
| Cheniere Energy Partners LP, 4.50%, 10/01/29 | &nbsp;&nbsp; 1175 | 1132818 |
| Columbia Pipeline Group Inc., 4.50%, 06/01/25 | &nbsp;&nbsp; 854 | 850849 |
| DCP Midstream Operating LP |  |  |
| 5.13%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 415 | 417814 |
| 5.38%, 07/15/25 | &nbsp;&nbsp; 511 | 511370 |
| 5.63%, 07/15/27 | &nbsp;&nbsp; 405 | 412174 |
| Eastern Energy Gas Holdings LLC, Series A, <br> 2.50%, 11/15/24<br>| &nbsp;&nbsp; 339 | 338591 |
| Enbridge Energy Partners LP, 5.88%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 484 | 487621 |
| Enbridge Inc. |  |  |
| 1.60%, 10/04/26<sup>(a)</sup> | &nbsp;&nbsp; 423 | 398696 |
| 2.50%, 01/15/25 | &nbsp;&nbsp; 397 | 395131 |
| 2.50%, 02/14/25 | &nbsp;&nbsp; 385 | 382618 |
| 3.70%, 07/15/27 | &nbsp;&nbsp; 425 | 414452 |
| 4.25%, 12/01/26 | &nbsp;&nbsp; 570 | 565099 |
| 5.25%, 04/05/27 | &nbsp;&nbsp; 295 | 298965 |
| 5.30%, 04/05/29 | &nbsp;&nbsp; 525 | 532730 |
| 5.90%, 11/15/26 | &nbsp;&nbsp; 595 | 607776 |
| 6.00%, 11/15/28 | &nbsp;&nbsp; 540 | 563137 |
| Energy Transfer LP |  |  |
| 2.90%, 05/15/25 | &nbsp;&nbsp; 868 | 858399 |
| 3.90%, 07/15/26 | &nbsp;&nbsp; 450 | 443736 |
| 4.00%, 10/01/27 | &nbsp;&nbsp; 195 | 190796 |
| 4.05%, 03/15/25 | &nbsp;&nbsp; 861 | 857410 |
| 4.15%, 09/15/29 | &nbsp;&nbsp; 445 | 428246 |
| 4.20%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 475 | 468424 |
| 4.40%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 565 | 560482 |
| 4.75%, 01/15/26 | &nbsp;&nbsp; 803 | 802072 |
| 4.95%, 05/15/28 | &nbsp;&nbsp; 705 | 706218 |
| 4.95%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 985 | 986727 |
| 5.25%, 04/15/29 | &nbsp;&nbsp; 1045 | 1053980 |
| 5.25%, 07/01/29 | &nbsp;&nbsp; 825 | 833018 |
| 5.50%, 06/01/27 | &nbsp;&nbsp; 760 | 771399 |
| 5.55%, 02/15/28 | &nbsp;&nbsp; 855 | 873273 |
| 5.75%, 04/01/25 | &nbsp;&nbsp; 20 | 19997 |
| 6.05%, 12/01/26 | &nbsp;&nbsp; 780 | 799577 |
| 6.10%, 12/01/28 | &nbsp;&nbsp; 305 | 318142 |
| Enterprise Products Operating LLC |  |  |
| 3.13%, 07/31/29 | &nbsp;&nbsp; 910 | 848906 |
| 3.70%, 02/15/26 | &nbsp;&nbsp; 755 | 748039 |
| 3.75%, 02/15/25 | &nbsp;&nbsp; 518 | 516199 |
| 3.95%, 02/15/27 | &nbsp;&nbsp; 590 | 581468 |
| 4.15%, 10/16/28 | &nbsp;&nbsp; 825 | 808428 |
| 4.60%, 01/11/27<sup>(a)</sup> | &nbsp;&nbsp; 520 | 520297 |
| 5.05%, 01/10/26 | &nbsp;&nbsp; 670 | 673806 |
| Kinder Morgan Inc. |  |  |
| 1.75%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 455 | 429601 |
| 4.30%, 06/01/25 | &nbsp;&nbsp; 1205 | 1200642 |
| 4.30%, 03/01/28 | &nbsp;&nbsp; 980 | 965221 |
| 5.00%, 02/01/29 | &nbsp;&nbsp; 850 | 850096 |
| 5.10%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 450 | 451909 |
| MPLX LP |  |  |
| 1.75%, 03/01/26 | &nbsp;&nbsp; 1235 | 1186198 |
| 4.00%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 488 | 486317 |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 1065 | 1036502 |
| 4.13%, 03/01/27 | &nbsp;&nbsp; 1010 | 995694 |
| 4.25%, 12/01/27 | &nbsp;&nbsp; 465 | 457627 |
| 4.80%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 510 | 507104 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 4.88%, 12/01/24 | &nbsp;&nbsp; $942 | $941486 |
| 4.88%, 06/01/25 | &nbsp;&nbsp; 1127 | 1125676 |
| ONEOK Inc. |  |  |
| 3.40%, 09/01/29 | &nbsp;&nbsp; 595 | 554046 |
| 4.00%, 07/13/27<sup>(a)</sup> | &nbsp;&nbsp; 435 | 426275 |
| 4.35%, 03/15/29 | &nbsp;&nbsp; 470 | 457927 |
| 4.40%, 10/15/29 | &nbsp;&nbsp; 450 | 438241 |
| 4.55%, 07/15/28 | &nbsp;&nbsp; 610 | 602889 |
| 5.00%, 03/01/26 | &nbsp;&nbsp; 552 | 552775 |
| 5.55%, 11/01/26 | &nbsp;&nbsp; 675 | 684123 |
| 5.65%, 11/01/28 | &nbsp;&nbsp; 595 | 610726 |
| 5.85%, 01/15/26 | &nbsp;&nbsp; 525 | 530230 |
| ONEOK Partners LP, 4.90%, 03/15/25 | &nbsp;&nbsp; 412 | 411807 |
| Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| 3.60%, 11/01/24 | &nbsp;&nbsp; 735 | 735000 |
| 4.50%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 635 | 632160 |
| 4.65%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 899 | 897265 |
| Sabine Pass Liquefaction LLC |  |  |
| 4.20%, 03/15/28 | &nbsp;&nbsp; 1035 | 1014511 |
| 5.00%, 03/15/27 | &nbsp;&nbsp; 1245 | 1247863 |
| 5.63%, 03/01/25 | &nbsp;&nbsp; 539 | 539035 |
| 5.88%, 06/30/26 | &nbsp;&nbsp; 1242 | 1255720 |
| South Bow USA Infrastructure Holdings LLC |  |  |
| 4.91%, 09/01/27<sup>(b)</sup> | &nbsp;&nbsp; 100 | 99494 |
| 5.03%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 725 | 712940 |
| Spectra Energy Partners LP |  |  |
| 3.38%, 10/15/26 | &nbsp;&nbsp; 470 | 457599 |
| 3.50%, 03/15/25 | &nbsp;&nbsp; 437 | 435053 |
| Targa Resources Corp. |  |  |
| 5.20%, 07/01/27 | &nbsp;&nbsp; 610 | 617185 |
| 6.15%, 03/01/29 | &nbsp;&nbsp; 725 | 756892 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp.<br>|  |  |
| 5.00%, 01/15/28 | &nbsp;&nbsp; 470 | 468304 |
| 6.50%, 07/15/27 | &nbsp;&nbsp; 750 | 756833 |
| TransCanada PipeLines Ltd. |  |  |
| 4.25%, 05/15/28 | &nbsp;&nbsp; 1095 | 1073834 |
| 4.88%, 01/15/26 | &nbsp;&nbsp; 771 | 770594 |
| Transcontinental Gas Pipe Line Co. LLC, 7.85%, <br> 02/01/26<br>| &nbsp;&nbsp; 887 | 912534 |
| Western Midstream Operating LP |  |  |
| 3.10%, 02/01/25 | &nbsp;&nbsp; 605 | 602063 |
| 6.35%, 01/15/29 | &nbsp;&nbsp; 420 | 437163 |
| Williams Companies Inc. (The) |  |  |
| 3.75%, 06/15/27 | &nbsp;&nbsp; 1115 | 1088545 |
| 3.90%, 01/15/25 | &nbsp;&nbsp; 600 | 598890 |
| 4.00%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 607 | 602394 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 770 | 768170 |
| 5.30%, 08/15/28 | &nbsp;&nbsp; 785 | 797283 |
| 5.40%, 03/02/26 | &nbsp;&nbsp; 855 | 860913 |
|  |  | 62950259 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| Brookfield Corp., 4.00%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 582 | 580617 |
| CBRE Services Inc. |  |  |
| 4.88%, 03/01/26 | &nbsp;&nbsp; 555 | 554561 |
| 5.50%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 395 | 405245 |
|  |  | 1540423 |
| **Real Estate Investment Trusts — 3.2%** | **Real Estate Investment Trusts — 3.2%** | **Real Estate Investment Trusts — 3.2%** |
| Alexandria Real Estate Equities Inc., 3.45%, <br> 04/30/25<br>| &nbsp;&nbsp; 538 | 534296 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| American Homes 4 Rent LP, 4.25%, 02/15/28 | &nbsp;&nbsp; $395 | $386335 |
| American Tower Corp. |  |  |
| 1.30%, 09/15/25 | &nbsp;&nbsp; 400 | 387905 |
| 1.45%, 09/15/26 | &nbsp;&nbsp; 555 | 522293 |
| 1.50%, 01/31/28 | &nbsp;&nbsp; 590 | 531271 |
| 1.60%, 04/15/26 | &nbsp;&nbsp; 590 | 563553 |
| 2.40%, 03/15/25 | &nbsp;&nbsp; 599 | 593491 |
| 2.75%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 455 | 436288 |
| 2.95%, 01/15/25 | &nbsp;&nbsp; 537 | 535001 |
| 3.38%, 10/15/26 | &nbsp;&nbsp; 760 | 741628 |
| 3.55%, 07/15/27 | &nbsp;&nbsp; 795 | 770006 |
| 3.60%, 01/15/28 | &nbsp;&nbsp; 590 | 568327 |
| 3.65%, 03/15/27 | &nbsp;&nbsp; 530 | 516497 |
| 3.80%, 08/15/29 | &nbsp;&nbsp; 1315 | 1249919 |
| 3.95%, 03/15/29 | &nbsp;&nbsp; 90 | 86540 |
| 4.00%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 628 | 624919 |
| 4.40%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 428 | 425874 |
| 5.20%, 02/15/29 | &nbsp;&nbsp; 275 | 278046 |
| 5.25%, 07/15/28 | &nbsp;&nbsp; 670 | 678155 |
| 5.50%, 03/15/28 | &nbsp;&nbsp; 585 | 595976 |
| 5.80%, 11/15/28 | &nbsp;&nbsp; 635 | 655293 |
| AvalonBay Communities Inc., 3.45%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 448 | 444977 |
| Boston Properties LP |  |  |
| 2.75%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 879 | 842045 |
| 3.20%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 684 | 681035 |
| 3.40%, 06/21/29 | &nbsp;&nbsp; 555 | 509923 |
| 3.65%, 02/01/26 | &nbsp;&nbsp; 973 | 955344 |
| 4.50%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 650 | 631270 |
| 6.75%, 12/01/27 | &nbsp;&nbsp; 485 | 505876 |
| Brixmor Operating Partnership LP |  |  |
| 3.85%, 02/01/25 | &nbsp;&nbsp; 255 | 254070 |
| 4.13%, 06/15/26 | &nbsp;&nbsp; 675 | 665880 |
| 4.13%, 05/15/29 | &nbsp;&nbsp; 575 | 552534 |
| Camden Property Trust |  |  |
| 3.15%, 07/01/29 | &nbsp;&nbsp; 425 | 397354 |
| 5.85%, 11/03/26<sup>(a)</sup> | &nbsp;&nbsp; 135 | 138236 |
| Crown Castle Inc. |  |  |
| 1.05%, 07/15/26 | &nbsp;&nbsp; 814 | 764037 |
| 1.35%, 07/15/25 | &nbsp;&nbsp; 490 | 478173 |
| 2.90%, 03/15/27 | &nbsp;&nbsp; 915 | 875683 |
| 3.65%, 09/01/27 | &nbsp;&nbsp; 765 | 741021 |
| 3.70%, 06/15/26 | &nbsp;&nbsp; 630 | 618004 |
| 3.80%, 02/15/28 | &nbsp;&nbsp; 960 | 926682 |
| 4.00%, 03/01/27 | &nbsp;&nbsp; 165 | 162285 |
| 4.30%, 02/15/29 | &nbsp;&nbsp; 430 | 417942 |
| 4.45%, 02/15/26 | &nbsp;&nbsp; 810 | 805906 |
| 4.80%, 09/01/28 | &nbsp;&nbsp; 405 | 403070 |
| 4.90%, 09/01/29 | &nbsp;&nbsp; 375 | 372107 |
| 5.00%, 01/11/28<sup>(a)</sup> | &nbsp;&nbsp; 905 | 905835 |
| 5.60%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 535 | 548317 |
| CubeSmart LP, 2.25%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 330 | 297903 |
| Digital Realty Trust LP |  |  |
| 3.60%, 07/01/29 | &nbsp;&nbsp; 685 | 649551 |
| 3.70%, 08/15/27 | &nbsp;&nbsp; 740 | 720010 |
| 4.45%, 07/15/28 | &nbsp;&nbsp; 480 | 473805 |
| 5.55%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 660 | 674017 |
| Equinix Inc. |  |  |
| 1.00%, 09/15/25 | &nbsp;&nbsp; 746 | 720691 |
| 1.25%, 07/15/25 | &nbsp;&nbsp; 413 | 402629 |
| 1.45%, 05/15/26 | &nbsp;&nbsp; 596 | 568067 |
| 1.55%, 03/15/28 | &nbsp;&nbsp; 495 | 446323 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 1.80%, 07/15/27 | &nbsp;&nbsp; $335 | $310776 |
| 2.63%, 11/18/24 | &nbsp;&nbsp; 711 | 710117 |
| 2.90%, 11/18/26 | &nbsp;&nbsp; 500 | 483219 |
| ERP Operating LP |  |  |
| 2.85%, 11/01/26 | &nbsp;&nbsp; 560 | 542210 |
| 3.00%, 07/01/29 | &nbsp;&nbsp; 420 | 389828 |
| 3.50%, 03/01/28 | &nbsp;&nbsp; 125 | 120648 |
| Essex Portfolio LP |  |  |
| 3.50%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 601 | 597396 |
| 4.00%, 03/01/29 | &nbsp;&nbsp; 265 | 255150 |
| Extra Space Storage LP |  |  |
| 3.50%, 07/01/26 | &nbsp;&nbsp; 694 | 680339 |
| 5.70%, 04/01/28 | &nbsp;&nbsp; 370 | 378958 |
| GLP Capital LP/GLP Financing II Inc. |  |  |
| 5.25%, 06/01/25 | &nbsp;&nbsp; 746 | 745004 |
| 5.30%, 01/15/29 | &nbsp;&nbsp; 545 | 544071 |
| 5.38%, 04/15/26 | &nbsp;&nbsp; 888 | 888464 |
| 5.75%, 06/01/28 | &nbsp;&nbsp; 385 | 390412 |
| Healthcare Realty Holdings LP |  |  |
| 3.50%, 08/01/26 | &nbsp;&nbsp; 350 | 341602 |
| 3.75%, 07/01/27 | &nbsp;&nbsp; 345 | 334373 |
| Healthpeak OP LLC |  |  |
| 2.13%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 410 | 369924 |
| 3.25%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 757 | 739576 |
| 3.50%, 07/15/29 | &nbsp;&nbsp; 490 | 461835 |
| Host Hotels & Resorts LP, Series E, 4.00%, <br> 06/15/25<br>| &nbsp;&nbsp; 490 | 486911 |
| Invitation Homes Operating Partnership LP, 2.30%, <br> 11/15/28<br>| &nbsp;&nbsp; 470 | 426021 |
| Kimco Realty OP LLC |  |  |
| 2.80%, 10/01/26 | &nbsp;&nbsp; 435 | 419956 |
| 3.30%, 02/01/25 | &nbsp;&nbsp; 597 | 594225 |
| Mid-America Apartments LP |  |  |
| 3.60%, 06/01/27 | &nbsp;&nbsp; 435 | 425346 |
| 3.95%, 03/15/29 | &nbsp;&nbsp; 400 | 388019 |
| Omega Healthcare Investors Inc. |  |  |
| 3.63%, 10/01/29 | &nbsp;&nbsp; 365 | 338108 |
| 4.50%, 04/01/27 | &nbsp;&nbsp; 465 | 459077 |
| 4.75%, 01/15/28 | &nbsp;&nbsp; 345 | 340197 |
| 5.25%, 01/15/26 | &nbsp;&nbsp; 665 | 665401 |
| Prologis LP |  |  |
| 2.13%, 04/15/27 | &nbsp;&nbsp; 310 | 293104 |
| 4.88%, 06/15/28 | &nbsp;&nbsp; 560 | 564605 |
| Public Storage Operating Co. |  |  |
| 0.88%, 02/15/26 | &nbsp;&nbsp; 600 | 572893 |
| 1.50%, 11/09/26 | &nbsp;&nbsp; 675 | 637303 |
| 1.85%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 610 | 557208 |
| 1.95%, 11/09/28 | &nbsp;&nbsp; 170 | 153451 |
| 3.09%, 09/15/27 | &nbsp;&nbsp; 105 | 101095 |
| 3.39%, 05/01/29 | &nbsp;&nbsp; 325 | 308589 |
| 5.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 505 | 515742 |
| Realty Income Corp. |  |  |
| 3.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 545 | 526219 |
| 3.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 370 | 346412 |
| 3.40%, 01/15/28 | &nbsp;&nbsp; 455 | 438488 |
| 3.65%, 01/15/28 | &nbsp;&nbsp; 370 | 358917 |
| 3.88%, 04/15/25 | &nbsp;&nbsp; 555 | 552808 |
| 3.95%, 08/15/27 | &nbsp;&nbsp; 450 | 443338 |
| 4.13%, 10/15/26 | &nbsp;&nbsp; 560 | 554819 |
| 4.63%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 405 | 404585 |
| 4.88%, 06/01/26 | &nbsp;&nbsp; 610 | 611568 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 5.05%, 01/13/26 | &nbsp;&nbsp; $355 | $353938 |
| Regency Centers LP, 3.60%, 02/01/27 | &nbsp;&nbsp; 540 | 525480 |
| Sabra Health Care LP, 5.13%, 08/15/26 | &nbsp;&nbsp; 540 | 540200 |
| Simon Property Group LP |  |  |
| 1.38%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 930 | 869280 |
| 1.75%, 02/01/28 | &nbsp;&nbsp; 520 | 476357 |
| 2.45%, 09/13/29 | &nbsp;&nbsp; 960 | 865086 |
| 3.25%, 11/30/26 | &nbsp;&nbsp; 330 | 321353 |
| 3.30%, 01/15/26 | &nbsp;&nbsp; 805 | 792260 |
| 3.38%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 275 | 267587 |
| 3.38%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 285 | 275842 |
| 3.50%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 907 | 898202 |
| Sun Communities Operating LP, 5.50%, 01/15/29 | &nbsp;&nbsp; 360 | 363137 |
| Ventas Realty LP |  |  |
| 3.50%, 02/01/25 | &nbsp;&nbsp; 498 | 495790 |
| 4.00%, 03/01/28 | &nbsp;&nbsp; 470 | 457838 |
| 4.13%, 01/15/26 | &nbsp;&nbsp; 358 | 354493 |
| 4.40%, 01/15/29 | &nbsp;&nbsp; 590 | 576947 |
| VICI Properties LP |  |  |
| 4.38%, 05/15/25 | &nbsp;&nbsp; 410 | 408401 |
| 4.75%, 02/15/28 | &nbsp;&nbsp; 965 | 956281 |
| Welltower OP LLC |  |  |
| 2.05%, 01/15/29 | &nbsp;&nbsp; 385 | 345695 |
| 2.70%, 02/15/27 | &nbsp;&nbsp; 570 | 548601 |
| 4.00%, 06/01/25 | &nbsp;&nbsp; 1151 | 1145381 |
| 4.13%, 03/15/29 | &nbsp;&nbsp; 310 | 302449 |
| 4.25%, 04/01/26 | &nbsp;&nbsp; 810 | 804362 |
| 4.25%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 570 | 560677 |
| Weyerhaeuser Co., 4.75%, 05/15/26 | &nbsp;&nbsp; 770 | 769183 |
|  |  | 67275342 |
| **Retail — 2.4%** | **Retail — 2.4%** | **Retail — 2.4%** |
| AutoZone Inc. |  |  |
| 3.63%, 04/15/25 | &nbsp;&nbsp; 475 | 472744 |
| 3.75%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 450 | 440189 |
| 5.10%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 435 | 439218 |
| 6.25%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 385 | 404905 |
| Best Buy Co. Inc., 4.45%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 325 | 320904 |
| Costco Wholesale Corp. |  |  |
| 1.38%, 06/20/27 | &nbsp;&nbsp; 940 | 870740 |
| 3.00%, 05/18/27 | &nbsp;&nbsp; 730 | 707929 |
| Dollar General Corp. |  |  |
| 3.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 435 | 425783 |
| 4.13%, 05/01/28 | &nbsp;&nbsp; 375 | 365462 |
| 4.15%, 11/01/25 | &nbsp;&nbsp; 439 | 435500 |
| 4.63%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 440 | 437099 |
| 5.20%, 07/05/28<sup>(a)</sup> | &nbsp;&nbsp; 370 | 372833 |
| Dollar Tree Inc. |  |  |
| 4.00%, 05/15/25 | &nbsp;&nbsp; 845 | 839687 |
| 4.20%, 05/15/28 | &nbsp;&nbsp; 1005 | 975131 |
| Genuine Parts Co. |  |  |
| 1.75%, 02/01/25 | &nbsp;&nbsp; 365 | 361809 |
| 4.95%, 08/15/29 | &nbsp;&nbsp; 560 | 555122 |
| Home Depot Inc. (The) |  |  |
| 0.90%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 360 | 320906 |
| 1.50%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 875 | 782641 |
| 2.13%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 860 | 824708 |
| 2.50%, 04/15/27 | &nbsp;&nbsp; 535 | 512069 |
| 2.70%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 435 | 431290 |
| 2.80%, 09/14/27 | &nbsp;&nbsp; 205 | 196335 |
| 2.88%, 04/15/27 | &nbsp;&nbsp; 630 | 608473 |
| 2.95%, 06/15/29 | &nbsp;&nbsp; 1335 | 1245663 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 3.00%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; $1047 | $1026439 |
| 3.35%, 09/15/25 | &nbsp;&nbsp; 713 | 705801 |
| 3.90%, 12/06/28 | &nbsp;&nbsp; 562 | 550038 |
| 4.00%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 615 | 612113 |
| 4.75%, 06/25/29 | &nbsp;&nbsp; 990 | 997174 |
| 4.88%, 06/25/27<sup>(a)</sup> | &nbsp;&nbsp; 620 | 627624 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 600 | 608261 |
| 4.95%, 09/30/26 | &nbsp;&nbsp; 435 | 439625 |
| 5.10%, 12/24/25 | &nbsp;&nbsp; 15 | 15112 |
| 5.13%, 04/30/25 | &nbsp;&nbsp; 395 | 396519 |
| 5.15%, 06/25/26 | &nbsp;&nbsp; 920 | 931333 |
| Lowe's Companies Inc. |  |  |
| 1.30%, 04/15/28 | &nbsp;&nbsp; 820 | 732211 |
| 1.70%, 09/15/28 | &nbsp;&nbsp; 780 | 698723 |
| 2.50%, 04/15/26 | &nbsp;&nbsp; 1151 | 1119148 |
| 3.10%, 05/03/27 | &nbsp;&nbsp; 1015 | 979328 |
| 3.35%, 04/01/27 | &nbsp;&nbsp; 755 | 733579 |
| 3.38%, 09/15/25 | &nbsp;&nbsp; 601 | 593775 |
| 3.65%, 04/05/29 | &nbsp;&nbsp; 1085 | 1036181 |
| 4.00%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 594 | 592011 |
| 4.40%, 09/08/25<sup>(a)</sup> | &nbsp;&nbsp; 800 | 798225 |
| 4.80%, 04/01/26 | &nbsp;&nbsp; 803 | 804820 |
| McDonald's Corp. |  |  |
| 1.45%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 430 | 418601 |
| 2.63%, 09/01/29 | &nbsp;&nbsp; 810 | 739477 |
| 3.30%, 07/01/25<sup>(a)</sup> | &nbsp;&nbsp; 626 | 620382 |
| 3.38%, 05/26/25<sup>(a)</sup> | &nbsp;&nbsp; 525 | 520890 |
| 3.50%, 03/01/27 | &nbsp;&nbsp; 650 | 634725 |
| 3.50%, 07/01/27 | &nbsp;&nbsp; 780 | 759388 |
| 3.70%, 01/30/26 | &nbsp;&nbsp; 1368 | 1353779 |
| 3.80%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 770 | 750111 |
| 4.80%, 08/14/28 | &nbsp;&nbsp; 480 | 482686 |
| 5.00%, 05/17/29 | &nbsp;&nbsp; 275 | 278528 |
| O'Reilly Automotive Inc. |  |  |
| 3.55%, 03/15/26 | &nbsp;&nbsp; 458 | 450612 |
| 3.60%, 09/01/27 | &nbsp;&nbsp; 615 | 598233 |
| 3.90%, 06/01/29 | &nbsp;&nbsp; 300 | 289489 |
| 4.35%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 365 | 360644 |
| 5.75%, 11/20/26 | &nbsp;&nbsp; 340 | 346685 |
| Ross Stores Inc. |  |  |
| 0.88%, 04/15/26 | &nbsp;&nbsp; 477 | 451923 |
| 4.60%, 04/15/25 | &nbsp;&nbsp; 560 | 559413 |
| Starbucks Corp. |  |  |
| 2.00%, 03/12/27 | &nbsp;&nbsp; 415 | 391558 |
| 2.45%, 06/15/26 | &nbsp;&nbsp; 400 | 387378 |
| 3.50%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 455 | 440284 |
| 3.55%, 08/15/29 | &nbsp;&nbsp; 715 | 680916 |
| 3.80%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1034 | 1026382 |
| 4.00%, 11/15/28 | &nbsp;&nbsp; 435 | 425230 |
| 4.75%, 02/15/26 | &nbsp;&nbsp; 830 | 831266 |
| 4.85%, 02/08/27 | &nbsp;&nbsp; 710 | 713393 |
| Target Corp. |  |  |
| 1.95%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 770 | 731167 |
| 2.25%, 04/15/25 | &nbsp;&nbsp; 1047 | 1036098 |
| 2.50%, 04/15/26 | &nbsp;&nbsp; 1013 | 990605 |
| 3.38%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 745 | 711586 |
| TJX Companies Inc. (The) |  |  |
| 1.15%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 380 | 339671 |
| 2.25%, 09/15/26 | &nbsp;&nbsp; 765 | 735605 |
| Walmart Inc. |  |  |
| 2.65%, 12/15/24 | &nbsp;&nbsp; 305 | 303928 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 3.05%, 07/08/26 | &nbsp;&nbsp; $670 | $656675 |
| 3.55%, 06/26/25 | &nbsp;&nbsp; 725 | 721440 |
| 3.70%, 06/26/28 | &nbsp;&nbsp; 1115 | 1092782 |
| 3.90%, 04/15/28 | &nbsp;&nbsp; 625 | 616240 |
| 4.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 565 | 561962 |
|  |  | 51354912 |
| **Semiconductors — 2.1%** | **Semiconductors — 2.1%** | **Semiconductors — 2.1%** |
| Analog Devices Inc. |  |  |
| 1.70%, 10/01/28 | &nbsp;&nbsp; 545 | 490061 |
| 3.50%, 12/05/26<sup>(a)</sup> | &nbsp;&nbsp; 865 | 848990 |
| Applied Materials Inc. |  |  |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 980 | 955256 |
| 3.90%, 10/01/25 | &nbsp;&nbsp; 720 | 716433 |
| 4.80%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 510 | 514310 |
| Broadcom Corp./Broadcom Cayman Finance Ltd. |  |  |
| 3.50%, 01/15/28 | &nbsp;&nbsp; 604 | 581703 |
| 3.88%, 01/15/27 | &nbsp;&nbsp; 2274 | 2235808 |
| Broadcom Inc. |  |  |
| 1.95%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 645 | 591059 |
| 3.15%, 11/15/25 | &nbsp;&nbsp; 883 | 868651 |
| 3.46%, 09/15/26 | &nbsp;&nbsp; 590 | 577909 |
| 4.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 600 | 579319 |
| 4.11%, 09/15/28 | &nbsp;&nbsp; 860 | 839538 |
| 4.15%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 570 | 559754 |
| 4.75%, 04/15/29 | &nbsp;&nbsp; 1335 | 1330823 |
| 5.05%, 07/12/27 | &nbsp;&nbsp; 955 | 964298 |
| 5.05%, 07/12/29 | &nbsp;&nbsp; 1825 | 1838681 |
| Intel Corp. |  |  |
| 1.60%, 08/12/28 | &nbsp;&nbsp; 750 | 661190 |
| 2.60%, 05/19/26 | &nbsp;&nbsp; 800 | 773281 |
| 3.15%, 05/11/27 | &nbsp;&nbsp; 845 | 809522 |
| 3.40%, 03/25/25 | &nbsp;&nbsp; 845 | 839302 |
| 3.70%, 07/29/25 | &nbsp;&nbsp; 1784 | 1768216 |
| 3.75%, 03/25/27 | &nbsp;&nbsp; 840 | 817893 |
| 3.75%, 08/05/27 | &nbsp;&nbsp; 820 | 795264 |
| 4.00%, 08/05/29 | &nbsp;&nbsp; 450 | 429538 |
| 4.88%, 02/10/26 | &nbsp;&nbsp; 1189 | 1189489 |
| 4.88%, 02/10/28 | &nbsp;&nbsp; 1300 | 1293897 |
| KLA Corp. |  |  |
| 4.10%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 520 | 510053 |
| 4.65%, 11/01/24 | &nbsp;&nbsp; 622 | 622000 |
| Lam Research Corp. |  |  |
| 3.75%, 03/15/26 | &nbsp;&nbsp; 658 | 651046 |
| 3.80%, 03/15/25 | &nbsp;&nbsp; 488 | 486882 |
| 4.00%, 03/15/29 | &nbsp;&nbsp; 735 | 719349 |
| Marvell Technology Inc. |  |  |
| 1.65%, 04/15/26 | &nbsp;&nbsp; 526 | 502299 |
| 2.45%, 04/15/28 | &nbsp;&nbsp; 560 | 516073 |
| 5.75%, 02/15/29 | &nbsp;&nbsp; 320 | 329293 |
| Microchip Technology Inc. |  |  |
| 4.25%, 09/01/25 | &nbsp;&nbsp; 925 | 920478 |
| 5.05%, 03/15/29 | &nbsp;&nbsp; 625 | 627129 |
| Micron Technology Inc. |  |  |
| 4.19%, 02/15/27 | &nbsp;&nbsp; 750 | 740520 |
| 4.98%, 02/06/26 | &nbsp;&nbsp; 535 | 536157 |
| 5.33%, 02/06/29 | &nbsp;&nbsp; 505 | 510994 |
| 5.38%, 04/15/28 | &nbsp;&nbsp; 470 | 476785 |
| NVIDIA Corp. |  |  |
| 1.55%, 06/15/28 | &nbsp;&nbsp; 965 | 876655 |
| 3.20%, 09/16/26 | &nbsp;&nbsp; 795 | 778833 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| NXP BV/NXP Funding LLC |  |  |
| 5.35%, 03/01/26 | &nbsp;&nbsp; $440 | $442678 |
| 5.55%, 12/01/28 | &nbsp;&nbsp; 275 | 281177 |
| NXP BV/NXP Funding LLC/NXP USA Inc. |  |  |
| 2.70%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 512 | 506472 |
| 3.15%, 05/01/27 | &nbsp;&nbsp; 270 | 259913 |
| 3.88%, 06/18/26 | &nbsp;&nbsp; 615 | 606975 |
| 4.30%, 06/18/29 | &nbsp;&nbsp; 745 | 724486 |
| 4.40%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 535 | 531160 |
| Qorvo Inc. |  |  |
| 1.75%, 12/15/24 | &nbsp;&nbsp; 370 | 368465 |
| 4.38%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 570 | 537538 |
| Qualcomm Inc. |  |  |
| 1.30%, 05/20/28 | &nbsp;&nbsp; 741 | 663232 |
| 3.25%, 05/20/27 | &nbsp;&nbsp; 1565 | 1521064 |
| 3.45%, 05/20/25 | &nbsp;&nbsp; 1107 | 1099916 |
| Skyworks Solutions Inc., 1.80%, 06/01/26 | &nbsp;&nbsp; 482 | 458704 |
| Texas Instruments Inc. |  |  |
| 1.13%, 09/15/26 | &nbsp;&nbsp; 575 | 542184 |
| 1.38%, 03/12/25 | &nbsp;&nbsp; 652 | 644814 |
| 2.25%, 09/04/29 | &nbsp;&nbsp; 595 | 536373 |
| 2.90%, 11/03/27<sup>(a)</sup> | &nbsp;&nbsp; 420 | 402580 |
| 4.60%, 02/08/27 | &nbsp;&nbsp; 255 | 256244 |
| 4.60%, 02/15/28 | &nbsp;&nbsp; 485 | 488084 |
| 4.60%, 02/08/29 | &nbsp;&nbsp; 260 | 260815 |
|  |  | 44807605 |
| **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** |
| Huntington Ingalls Industries Inc. |  |  |
| 2.04%, 08/16/28 | &nbsp;&nbsp; 335 | 302239 |
| 3.48%, 12/01/27 | &nbsp;&nbsp; 330 | 317658 |
| 3.84%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 602 | 598797 |
|  |  | 1218694 |
| **Software — 2.6%** | **Software — 2.6%** | **Software — 2.6%** |
| Adobe Inc. |  |  |
| 1.90%, 02/01/25 | &nbsp;&nbsp; 436 | 432953 |
| 2.15%, 02/01/27 | &nbsp;&nbsp; 720 | 686198 |
| 3.25%, 02/01/25 | &nbsp;&nbsp; 769 | 765957 |
| 4.80%, 04/04/29 | &nbsp;&nbsp; 545 | 551816 |
| 4.85%, 04/04/27 | &nbsp;&nbsp; 245 | 247753 |
| Atlassian Corp., 5.25%, 05/15/29 | &nbsp;&nbsp; 360 | 364957 |
| Autodesk Inc., 3.50%, 06/15/27 | &nbsp;&nbsp; 445 | 433823 |
| Broadridge Financial Solutions Inc., 3.40%, <br> 06/27/26<br>| &nbsp;&nbsp; 515 | 503798 |
| Cadence Design Systems Inc., 4.30%, 09/10/29 | &nbsp;&nbsp; 670 | 657381 |
| Fidelity National Information Services Inc. |  |  |
| 1.15%, 03/01/26 | &nbsp;&nbsp; 1082 | 1031764 |
| 1.65%, 03/01/28 | &nbsp;&nbsp; 545 | 492998 |
| Fiserv Inc. |  |  |
| 2.25%, 06/01/27 | &nbsp;&nbsp; 840 | 791365 |
| 3.20%, 07/01/26 | &nbsp;&nbsp; 1610 | 1572232 |
| 3.50%, 07/01/29 | &nbsp;&nbsp; 2040 | 1927505 |
| 3.85%, 06/01/25 | &nbsp;&nbsp; 824 | 819250 |
| 4.20%, 10/01/28 | &nbsp;&nbsp; 663 | 649442 |
| 5.15%, 03/15/27 | &nbsp;&nbsp; 440 | 444638 |
| 5.38%, 08/21/28 | &nbsp;&nbsp; 510 | 520378 |
| 5.45%, 03/02/28 | &nbsp;&nbsp; 710 | 724465 |
| Intuit Inc. |  |  |
| 0.95%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 471 | 459284 |
| 1.35%, 07/15/27 | &nbsp;&nbsp; 355 | 327264 |
| 5.13%, 09/15/28 | &nbsp;&nbsp; 595 | 607809 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| 5.25%, 09/15/26 | &nbsp;&nbsp; $615 | $623822 |
| Microsoft Corp. |  |  |
| 2.40%, 08/08/26 | &nbsp;&nbsp; 2212 | 2140343 |
| 2.70%, 02/12/25<sup>(a)</sup> | &nbsp;&nbsp; 1020 | 1014587 |
| 3.13%, 11/03/25 | &nbsp;&nbsp; 2300 | 2272241 |
| 3.30%, 02/06/27 | &nbsp;&nbsp; 2915 | 2854756 |
| 3.40%, 09/15/26 | &nbsp;&nbsp; 645 | 634564 |
| Oracle Corp. |  |  |
| 1.65%, 03/25/26 | &nbsp;&nbsp; 2082 | 1994181 |
| 2.30%, 03/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1609 | 1488524 |
| 2.50%, 04/01/25 | &nbsp;&nbsp; 2860 | 2831485 |
| 2.65%, 07/15/26 | &nbsp;&nbsp; 2342 | 2265549 |
| 2.80%, 04/01/27 | &nbsp;&nbsp; 1765 | 1690137 |
| 2.95%, 11/15/24 | &nbsp;&nbsp; 1517 | 1515547 |
| 2.95%, 05/15/25 | &nbsp;&nbsp; 1707 | 1691107 |
| 3.25%, 11/15/27 | &nbsp;&nbsp; 2200 | 2112377 |
| 4.20%, 09/27/29 | &nbsp;&nbsp; 1360 | 1324909 |
| 4.50%, 05/06/28 | &nbsp;&nbsp; 460 | 457620 |
| 5.80%, 11/10/25 | &nbsp;&nbsp; 978 | 988263 |
| Roper Technologies Inc. |  |  |
| 1.00%, 09/15/25 | &nbsp;&nbsp; 603 | 584642 |
| 1.40%, 09/15/27 | &nbsp;&nbsp; 120 | 110260 |
| 2.95%, 09/15/29 | &nbsp;&nbsp; 547 | 503186 |
| 3.80%, 12/15/26 | &nbsp;&nbsp; 569 | 560866 |
| 4.20%, 09/15/28 | &nbsp;&nbsp; 565 | 555035 |
| 4.50%, 10/15/29 | &nbsp;&nbsp; 395 | 388901 |
| Salesforce Inc. |  |  |
| 1.50%, 07/15/28 | &nbsp;&nbsp; 785 | 707719 |
| 3.70%, 04/11/28<sup>(a)</sup> | &nbsp;&nbsp; 1125 | 1100461 |
| Take-Two Interactive Software Inc. |  |  |
| 3.55%, 04/14/25 | &nbsp;&nbsp; 525 | 521696 |
| 3.70%, 04/14/27 | &nbsp;&nbsp; 750 | 732796 |
| 4.95%, 03/28/28 | &nbsp;&nbsp; 570 | 572033 |
| 5.00%, 03/28/26 | &nbsp;&nbsp; 525 | 526847 |
| VMware LLC |  |  |
| 1.40%, 08/15/26 | &nbsp;&nbsp; 1190 | 1122159 |
| 1.80%, 08/15/28 | &nbsp;&nbsp; 565 | 505743 |
| 3.90%, 08/21/27 | &nbsp;&nbsp; 950 | 928879 |
| 4.50%, 05/15/25 | &nbsp;&nbsp; 657 | 656125 |
| 4.65%, 05/15/27 | &nbsp;&nbsp; 410 | 409135 |
| Workday Inc. |  |  |
| 3.50%, 04/01/27 | &nbsp;&nbsp; 860 | 839004 |
| 3.70%, 04/01/29 | &nbsp;&nbsp; 530 | 508106 |
|  |  | 54746635 |
| **Telecommunications — 2.8%** | **Telecommunications — 2.8%** | **Telecommunications — 2.8%** |
| AT&T Inc. |  |  |
| 1.65%, 02/01/28 | &nbsp;&nbsp; 1710 | 1553767 |
| 1.70%, 03/25/26 | &nbsp;&nbsp; 2350 | 2253965 |
| 2.30%, 06/01/27 | &nbsp;&nbsp; 1947 | 1839887 |
| 3.80%, 02/15/27 | &nbsp;&nbsp; 725 | 711862 |
| 4.10%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1469 | 1441895 |
| 4.25%, 03/01/27 | &nbsp;&nbsp; 1265 | 1256136 |
| 4.35%, 03/01/29 | &nbsp;&nbsp; 1950 | 1921626 |
| 5.54%, 02/20/26 | &nbsp;&nbsp; 1390 | 1389651 |
| British Telecommunications PLC, 5.13%, 12/04/28 | &nbsp;&nbsp; 255 | 257176 |
| Cisco Systems Inc. |  |  |
| 2.50%, 09/20/26 | &nbsp;&nbsp; 1238 | 1198635 |
| 2.95%, 02/28/26 | &nbsp;&nbsp; 625 | 613362 |
| 3.50%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 470 | 467796 |
| 4.80%, 02/26/27 | &nbsp;&nbsp; 1415 | 1424588 |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 1815 | 1836001 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 4.90%, 02/26/26 | &nbsp;&nbsp; $810 | $815197 |
| Motorola Solutions Inc. |  |  |
| 4.60%, 02/23/28 | &nbsp;&nbsp; 575 | 573500 |
| 4.60%, 05/23/29 | &nbsp;&nbsp; 565 | 559801 |
| Nokia OYJ, 4.38%, 06/12/27 | &nbsp;&nbsp; 285 | 279716 |
| Rogers Communications Inc. |  |  |
| 2.90%, 11/15/26 | &nbsp;&nbsp; 210 | 202265 |
| 2.95%, 03/15/25 | &nbsp;&nbsp; 654 | 648918 |
| 3.20%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1015 | 979705 |
| 3.63%, 12/15/25 | &nbsp;&nbsp; 714 | 703664 |
| 5.00%, 02/15/29 | &nbsp;&nbsp; 705 | 705335 |
| Sprint Capital Corp., 6.88%, 11/15/28 | &nbsp;&nbsp; 1930 | 2070394 |
| Sprint LLC |  |  |
| 7.63%, 02/15/25 | &nbsp;&nbsp; 1325 | 1325858 |
| 7.63%, 03/01/26 | &nbsp;&nbsp; 1250 | 1281462 |
| Telefonica Emisiones SA, 4.10%, 03/08/27 | &nbsp;&nbsp; 931 | 917919 |
| TELUS Corp. |  |  |
| 2.80%, 02/16/27 | &nbsp;&nbsp; 710 | 679260 |
| 3.70%, 09/15/27 | &nbsp;&nbsp; 395 | 383900 |
| T-Mobile USA Inc. |  |  |
| 1.50%, 02/15/26 | &nbsp;&nbsp; 700 | 672204 |
| 2.05%, 02/15/28 | &nbsp;&nbsp; 1270 | 1166671 |
| 2.25%, 02/15/26 | &nbsp;&nbsp; 1560 | 1511708 |
| 2.40%, 03/15/29 | &nbsp;&nbsp; 345 | 312851 |
| 2.63%, 04/15/26 | &nbsp;&nbsp; 345 | 334577 |
| 2.63%, 02/15/29 | &nbsp;&nbsp; 715 | 652877 |
| 3.38%, 04/15/29 | &nbsp;&nbsp; 1785 | 1676355 |
| 3.50%, 04/15/25 | &nbsp;&nbsp; 2242 | 2227089 |
| 3.75%, 04/15/27 | &nbsp;&nbsp; 3240 | 3171617 |
| 4.20%, 10/01/29 | &nbsp;&nbsp; 605 | 588638 |
| 4.75%, 02/01/28 | &nbsp;&nbsp; 1225 | 1221146 |
| 4.80%, 07/15/28 | &nbsp;&nbsp; 610 | 610522 |
| 4.85%, 01/15/29 | &nbsp;&nbsp; 535 | 535069 |
| 4.95%, 03/15/28 | &nbsp;&nbsp; 909 | 913572 |
| 5.38%, 04/15/27 | &nbsp;&nbsp; 270 | 271999 |
| Verizon Communications Inc. |  |  |
| 0.85%, 11/20/25 | &nbsp;&nbsp; 1141 | 1097967 |
| 1.45%, 03/20/26 | &nbsp;&nbsp; 1453 | 1391921 |
| 2.10%, 03/22/28 | &nbsp;&nbsp; 1615 | 1481830 |
| 2.63%, 08/15/26 | &nbsp;&nbsp; 1375 | 1328871 |
| 3.00%, 03/22/27 | &nbsp;&nbsp; 835 | 804930 |
| 3.50%, 11/01/24 | &nbsp;&nbsp; 1065 | 1065000 |
| 3.88%, 02/08/29<sup>(a)</sup> | &nbsp;&nbsp; 730 | 705621 |
| 4.13%, 03/16/27<sup>(a)</sup> | &nbsp;&nbsp; 2555 | 2524217 |
| 4.33%, 09/21/28 | &nbsp;&nbsp; 2745 | 2707708 |
| Vodafone Group PLC, 4.38%, 05/30/28<sup>(a)</sup> | &nbsp;&nbsp; 559 | 556925 |
|  |  | 59825126 |
| **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** |
| Hasbro Inc. |  |  |
| 3.00%, 11/19/24 | &nbsp;&nbsp; 449 | 448269 |
| 3.50%, 09/15/27 | &nbsp;&nbsp; 110 | 106327 |
| 3.55%, 11/19/26 | &nbsp;&nbsp; 710 | 691950 |
|  |  | 1246546 |
| **Transportation — 1.0%** | **Transportation — 1.0%** | **Transportation — 1.0%** |
| Burlington Northern Santa Fe LLC |  |  |
| 3.00%, 04/01/25 | &nbsp;&nbsp; 509 | 505513 |
| 3.25%, 06/15/27 | &nbsp;&nbsp; 435 | 422999 |
| Canadian National Railway Co., 2.75%, <br> 03/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 527 | 514660 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| Canadian Pacific Railway Co. |  |  |
| 1.35%, 12/02/24 | &nbsp;&nbsp; $1265 | $1260914 |
| 1.75%, 12/02/26 | &nbsp;&nbsp; 875 | 825455 |
| 2.90%, 02/01/25 | &nbsp;&nbsp; 659 | 655350 |
| 4.00%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 385 | 376525 |
| CSX Corp. |  |  |
| 2.60%, 11/01/26 | &nbsp;&nbsp; 400 | 385637 |
| 3.25%, 06/01/27 | &nbsp;&nbsp; 759 | 736393 |
| 3.35%, 11/01/25 | &nbsp;&nbsp; 605 | 597840 |
| 3.80%, 03/01/28 | &nbsp;&nbsp; 640 | 624130 |
| 4.25%, 03/15/29 | &nbsp;&nbsp; 705 | 693979 |
| FedEx Corp. |  |  |
| 3.10%, 08/05/29 | &nbsp;&nbsp; 720 | 668365 |
| 3.25%, 04/01/26 | &nbsp;&nbsp; 717 | 702869 |
| 3.40%, 02/15/28 | &nbsp;&nbsp; 410 | 394623 |
| Norfolk Southern Corp. |  |  |
| 2.90%, 06/15/26 | &nbsp;&nbsp; 330 | 321311 |
| 3.80%, 08/01/28 | &nbsp;&nbsp; 470 | 457374 |
| Ryder System Inc. |  |  |
| 5.25%, 06/01/28 | &nbsp;&nbsp; 505 | 511524 |
| 5.38%, 03/15/29 | &nbsp;&nbsp; 315 | 320333 |
| 5.65%, 03/01/28 | &nbsp;&nbsp; 355 | 363977 |
| Union Pacific Corp. |  |  |
| 2.15%, 02/05/27 | &nbsp;&nbsp; 475 | 452385 |
| 2.75%, 03/01/26 | &nbsp;&nbsp; 570 | 556902 |
| 3.00%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 255 | 246343 |
| 3.25%, 08/15/25 | &nbsp;&nbsp; 445 | 440583 |
| 3.70%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 540 | 522037 |
| 3.75%, 07/15/25 | &nbsp;&nbsp; 431 | 428096 |
| 3.95%, 09/10/28 | &nbsp;&nbsp; 790 | 772978 |
| 4.75%, 02/21/26 | &nbsp;&nbsp; 445 | 446106 |
| United Parcel Service Inc. |  |  |
| 2.40%, 11/15/26 | &nbsp;&nbsp; 394 | 378584 |
| 2.80%, 11/15/24 | &nbsp;&nbsp; 346 | 345751 |
| 3.05%, 11/15/27 | &nbsp;&nbsp; 775 | 743527 |
| 3.40%, 03/15/29 | &nbsp;&nbsp; 530 | 506441 |
| 3.90%, 04/01/25 | &nbsp;&nbsp; 826 | 822745 |
| Walmart Inc. |  |  |
| 1.05%, 09/17/26<sup>(a)</sup> | &nbsp;&nbsp; 940 | 886088 |
| 1.50%, 09/22/28 | &nbsp;&nbsp; 955 | 860440 |
| 3.95%, 09/09/27 | &nbsp;&nbsp; 795 | 788072 |
|  |  | 20536849 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| GATX Corp., 4.70%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 297696 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| American Water Capital Corp. |  |  |
| 2.95%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; $435 | $415952 |
| 3.40%, 03/01/25 | &nbsp;&nbsp; 345 | 343572 |
| 3.45%, 06/01/29 | &nbsp;&nbsp; 385 | 364272 |
| 3.75%, 09/01/28 | &nbsp;&nbsp; 435 | 420568 |
| Essential Utilities Inc., 4.80%, 08/15/27 | &nbsp;&nbsp; 310 | 310021 |
|  |  | 1854385 |
| **Total Long-Term Investments — 98.4%** <br>**(Cost: $2,092,169,094)** | **Total Long-Term Investments — 98.4%** <br>**(Cost: $2,092,169,094)** | 2082126587 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 7.7%** | **Money Market Funds — 7.7%** | **Money Market Funds — 7.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 139375245 | 139472808 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 24180000 | 24180000 |
| **Total Short-Term Securities — 7.7%** <br>**(Cost: $163,554,940)** | **Total Short-Term Securities — 7.7%** <br>**(Cost: $163,554,940)** | 163652808 |
| **Total Investments — 106.1%** <br>**(Cost: $2,255,724,034)** | **Total Investments — 106.1%** <br>**(Cost: $2,255,724,034)** | 2245779395 |
| **Liabilities in Excess of Other Assets — (6.1)%** | **Liabilities in Excess of Other Assets — (6.1)%** | (129528590)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2116250805 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year Investment Grade Corporate Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $122187536<br> $17251987 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $14116 | $19169 | $139472808 | 139375245 | $263571 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 6110000<br> 18070000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 24180000 | 24180000 | 767986 | &nbsp;&nbsp; — |
|  |  |  | $14116 | $19169 | $163652808 |  | $1031557 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2082126587 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2082126587 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 163652808 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 163652808 |
|  | &nbsp;&nbsp; $163652808 | &nbsp;&nbsp; $2082126587 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2245779395 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** | **Aerospace & Defense — 0.8%** |
| General Dynamics Corp. |  |  |
| 1.15%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; $500 | $475422 |
| 2.13%, 08/15/26 | &nbsp;&nbsp; 420 | 403982 |
| 2.25%, 06/01/31 | &nbsp;&nbsp; 223 | 193582 |
| 2.63%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 293 | 277855 |
| 2.85%, 06/01/41 | &nbsp;&nbsp; 205 | 150527 |
| 3.50%, 04/01/27 | &nbsp;&nbsp; 687 | 671895 |
| 3.60%, 11/15/42 | &nbsp;&nbsp; 118 | 95566 |
| 3.63%, 04/01/30 | &nbsp;&nbsp; 915 | 871415 |
| 3.75%, 05/15/28 | &nbsp;&nbsp; 424 | 412957 |
| 4.25%, 04/01/40 | &nbsp;&nbsp; 324 | 289905 |
| 4.25%, 04/01/50 | &nbsp;&nbsp; 322 | 276206 |
| Lockheed Martin Corp. |  |  |
| 2.80%, 06/15/50<sup>(a)</sup> | &nbsp;&nbsp; 274 | 178952 |
| 3.55%, 01/15/26 | &nbsp;&nbsp; 337 | 332928 |
| 3.60%, 03/01/35 | &nbsp;&nbsp; 273 | 243610 |
| 3.80%, 03/01/45 | &nbsp;&nbsp; 450 | 365352 |
| 3.90%, 06/15/32 | &nbsp;&nbsp; 355 | 335204 |
| 4.07%, 12/15/42 | &nbsp;&nbsp; 618 | 529875 |
| 4.09%, 09/15/52 | &nbsp;&nbsp; 776 | 639511 |
| 4.15%, 06/15/53 | &nbsp;&nbsp; 485 | 402022 |
| 4.30%, 06/15/62 | &nbsp;&nbsp; 445 | 368260 |
| 4.45%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 199694 |
| 4.50%, 02/15/29 | &nbsp;&nbsp; 235 | 234130 |
| 4.50%, 05/15/36 | &nbsp;&nbsp; 275 | 262533 |
| 4.70%, 05/15/46 | &nbsp;&nbsp; 928 | 853094 |
| 4.75%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 385 | 380062 |
| 4.80%, 08/15/34 | &nbsp;&nbsp; 340 | 335982 |
| 5.10%, 11/15/27 | &nbsp;&nbsp; 760 | 773347 |
| 5.20%, 02/15/55 | &nbsp;&nbsp; 305 | 298964 |
| 5.20%, 02/15/64 | &nbsp;&nbsp; 445 | 431429 |
| 5.25%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 475 | 489041 |
| 5.70%, 11/15/54 | &nbsp;&nbsp; 445 | 470491 |
| 5.90%, 11/15/63 | &nbsp;&nbsp; 305 | 330046 |
| Series B, 6.15%, 09/01/36 | &nbsp;&nbsp; 485 | 531323 |
|  |  | 13105162 |
| **Agriculture — 1.1%** | **Agriculture — 1.1%** | **Agriculture — 1.1%** |
| Archer-Daniels-Midland Co. |  |  |
| 2.50%, 08/11/26 | &nbsp;&nbsp; 698 | 673157 |
| 2.70%, 09/15/51 | &nbsp;&nbsp; 495 | 311967 |
| 2.90%, 03/01/32 | &nbsp;&nbsp; 765 | 671951 |
| 3.25%, 03/27/30 | &nbsp;&nbsp; 705 | 654835 |
| 4.50%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp; 325 | 314863 |
| 4.50%, 03/15/49 | &nbsp;&nbsp; 163 | 142472 |
| Philip Morris International Inc. |  |  |
| 0.88%, 05/01/26 | &nbsp;&nbsp; 665 | 629228 |
| 1.75%, 11/01/30 | &nbsp;&nbsp; 285 | 238311 |
| 2.10%, 05/01/30 | &nbsp;&nbsp; 296 | 256823 |
| 2.75%, 02/25/26 | &nbsp;&nbsp; 464 | 452837 |
| 3.13%, 08/17/27<sup>(a)</sup> | &nbsp;&nbsp; 230 | 222141 |
| 3.13%, 03/02/28 | &nbsp;&nbsp; 305 | 290384 |
| 3.38%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 379 | 357033 |
| 3.88%, 08/21/42 | &nbsp;&nbsp; 1070 | 863965 |
| 4.13%, 03/04/43 | &nbsp;&nbsp; 304 | 253276 |
| 4.25%, 11/10/44 | &nbsp;&nbsp; 563 | 472285 |
| 4.38%, 11/01/27 | &nbsp;&nbsp; 250 | 248406 |
| 4.38%, 11/15/41 | &nbsp;&nbsp; 815 | 708280 |
| 4.50%, 03/20/42 | &nbsp;&nbsp; 236 | 208050 |
| 4.63%, 11/01/29 | &nbsp;&nbsp; 250 | 248123 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Agriculture (continued)** | **Agriculture (continued)** | **Agriculture (continued)** |
| 4.75%, 02/12/27 | &nbsp;&nbsp; $280 | $280944 |
| 4.75%, 11/01/31 | &nbsp;&nbsp; 250 | 245910 |
| 4.88%, 02/13/26 | &nbsp;&nbsp; 795 | 797597 |
| 4.88%, 02/15/28 | &nbsp;&nbsp; 680 | 683742 |
| 4.88%, 02/13/29 | &nbsp;&nbsp; 405 | 406239 |
| 4.88%, 11/15/43 | &nbsp;&nbsp; 307 | 283487 |
| 4.90%, 11/01/34 | &nbsp;&nbsp; 250 | 243945 |
| 5.00%, 11/17/25 | &nbsp;&nbsp; 230 | 231129 |
| 5.13%, 11/17/27 | &nbsp;&nbsp; 750 | 760396 |
| 5.13%, 02/15/30 | &nbsp;&nbsp; 960 | 971111 |
| 5.13%, 02/13/31 | &nbsp;&nbsp; 590 | 595513 |
| 5.25%, 09/07/28 | &nbsp;&nbsp; 170 | 173228 |
| 5.25%, 02/13/34 | &nbsp;&nbsp; 975 | 978415 |
| 5.38%, 02/15/33 | &nbsp;&nbsp; 1005 | 1018479 |
| 5.50%, 09/07/30 | &nbsp;&nbsp; 220 | 226421 |
| 5.63%, 11/17/29 | &nbsp;&nbsp; 450 | 465951 |
| 5.63%, 09/07/33 | &nbsp;&nbsp; 450 | 462945 |
| 5.75%, 11/17/32 | &nbsp;&nbsp; 745 | 776314 |
| 6.38%, 05/16/38 | &nbsp;&nbsp; 815 | 893917 |
|  |  | 18714070 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| American Airlines Pass-Through Trust, Series A, <br> Class A, 2.88%, 01/11/36<br>| &nbsp;&nbsp; 250 | 216777 |
| Delta Air Lines Pass-Through Trust, Series 2020, <br> Class AA, 2.00%, 12/10/29<sup>(a)</sup><br>| &nbsp;&nbsp; 122 | 113261 |
| United Airlines Pass-Through Trust |  |  |
| 5.80%, 07/15/37<sup>(a)</sup> | &nbsp;&nbsp; 701 | 720427 |
| Series 2019-2, Class AA, 2.70%, 11/01/33 | &nbsp;&nbsp; 276 | 244387 |
| Series 2020-1, 5.88%, 04/15/29 | &nbsp;&nbsp; 444 | 453577 |
| Series AA, 5.45%, 08/15/38<sup>(a)</sup> | &nbsp;&nbsp; 215 | 218304 |
|  |  | 1966733 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| NIKE Inc. |  |  |
| 2.38%, 11/01/26 | &nbsp;&nbsp; 650 | 625214 |
| 2.75%, 03/27/27 | &nbsp;&nbsp; 641 | 617305 |
| 2.85%, 03/27/30 | &nbsp;&nbsp; 797 | 729647 |
| 3.25%, 03/27/40 | &nbsp;&nbsp; 472 | 373826 |
| 3.38%, 11/01/46<sup>(a)</sup> | &nbsp;&nbsp; 270 | 201411 |
| 3.38%, 03/27/50<sup>(a)</sup> | &nbsp;&nbsp; 1175 | 862485 |
| 3.63%, 05/01/43 | &nbsp;&nbsp; 222 | 179659 |
| 3.88%, 11/01/45<sup>(a)</sup> | &nbsp;&nbsp; 840 | 684302 |
| Ralph Lauren Corp., 2.95%, 06/15/30 | &nbsp;&nbsp; 640 | 582624 |
|  |  | 4856473 |
| **Auto Manufacturers — 1.8%** | **Auto Manufacturers — 1.8%** | **Auto Manufacturers — 1.8%** |
| American Honda Finance Corp. |  |  |
| 1.30%, 09/09/26 | &nbsp;&nbsp; 395 | 372531 |
| 1.80%, 01/13/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 167223 |
| 2.00%, 03/24/28 | &nbsp;&nbsp; 630 | 577828 |
| 2.25%, 01/12/29 | &nbsp;&nbsp; 220 | 199518 |
| 2.30%, 09/09/26 | &nbsp;&nbsp; 706 | 678590 |
| 2.35%, 01/08/27 | &nbsp;&nbsp; 177 | 169189 |
| 3.50%, 02/15/28 | &nbsp;&nbsp; 251 | 242730 |
| 4.40%, 10/05/26<sup>(a)</sup> | &nbsp;&nbsp; 300 | 299468 |
| 4.40%, 09/05/29 | &nbsp;&nbsp; 450 | 442416 |
| 4.45%, 10/22/27 | &nbsp;&nbsp; 415 | 413118 |
| 4.60%, 04/17/30<sup>(a)</sup> | &nbsp;&nbsp; 545 | 539147 |
| 4.70%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; 180 | 180700 |
| 4.75%, 01/12/26<sup>(a)</sup> | &nbsp;&nbsp; 90 | 90147 |
| 4.85%, 10/23/31 | &nbsp;&nbsp; 355 | 350628 |
| 4.90%, 03/12/27 | &nbsp;&nbsp; 165 | 166214 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 4.90%, 07/09/27 | &nbsp;&nbsp; $225 | $227082 |
| 4.90%, 03/13/29 | &nbsp;&nbsp; 275 | 276258 |
| 4.90%, 01/10/34<sup>(a)</sup> | &nbsp;&nbsp; 470 | 462925 |
| 4.95%, 01/09/26 | &nbsp;&nbsp; 260 | 261029 |
| 5.05%, 07/10/31 | &nbsp;&nbsp; 400 | 401481 |
| 5.13%, 07/07/28 | &nbsp;&nbsp; 455 | 461230 |
| 5.25%, 07/07/26 | &nbsp;&nbsp; 1070 | 1082308 |
| 5.65%, 11/15/28 | &nbsp;&nbsp; 290 | 299903 |
| 5.85%, 10/04/30 | &nbsp;&nbsp; 200 | 209719 |
| Cummins Inc. |  |  |
| 1.50%, 09/01/30 | &nbsp;&nbsp; 448 | 377149 |
| 2.60%, 09/01/50 | &nbsp;&nbsp; 515 | 318168 |
| 4.88%, 10/01/43 | &nbsp;&nbsp; 335 | 314180 |
| 4.90%, 02/20/29<sup>(a)</sup> | &nbsp;&nbsp; 495 | 500557 |
| 5.15%, 02/20/34<sup>(a)</sup> | &nbsp;&nbsp; 515 | 524511 |
| 5.45%, 02/20/54 | &nbsp;&nbsp; 520 | 523549 |
| Honda Motor Co. Ltd. |  |  |
| 2.53%, 03/10/27 | &nbsp;&nbsp; 715 | 683823 |
| 2.97%, 03/10/32 | &nbsp;&nbsp; 365 | 323825 |
| Mercedes-Benz Finance North America LLC, <br> 8.50%, 01/18/31<br>| &nbsp;&nbsp; 815 | 964848 |
| PACCAR Financial Corp. |  |  |
| 4.45%, 03/30/26 | &nbsp;&nbsp; 285 | 285399 |
| 4.45%, 08/06/27 | &nbsp;&nbsp; 335 | 335637 |
| 4.60%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 275 | 275857 |
| 5.00%, 05/13/27 | &nbsp;&nbsp; 330 | 334738 |
| 5.20%, 11/09/26 | &nbsp;&nbsp; 25 | 25413 |
| Toyota Motor Corp. |  |  |
| 1.34%, 03/25/26 | &nbsp;&nbsp; 401 | 383967 |
| 2.36%, 03/25/31<sup>(a)</sup> | &nbsp;&nbsp; 105 | 92004 |
| 2.76%, 07/02/29 | &nbsp;&nbsp; 305 | 282914 |
| 3.67%, 07/20/28<sup>(a)</sup> | &nbsp;&nbsp; 71 | 69302 |
| 5.12%, 07/13/28 | &nbsp;&nbsp; 350 | 356397 |
| 5.12%, 07/13/33 | &nbsp;&nbsp; 160 | 165817 |
| 5.28%, 07/13/26<sup>(a)</sup> | &nbsp;&nbsp; 315 | 319412 |
| Toyota Motor Credit Corp. |  |  |
| 0.80%, 01/09/26 | &nbsp;&nbsp; 180 | 172331 |
| 1.13%, 06/18/26 | &nbsp;&nbsp; 555 | 526658 |
| 1.15%, 08/13/27 | &nbsp;&nbsp; 435 | 397476 |
| 1.65%, 01/10/31 | &nbsp;&nbsp; 250 | 208115 |
| 1.90%, 01/13/27<sup>(a)</sup> | &nbsp;&nbsp; 445 | 421427 |
| 1.90%, 04/06/28 | &nbsp;&nbsp; 505 | 462833 |
| 1.90%, 09/12/31 | &nbsp;&nbsp; 190 | 158351 |
| 2.15%, 02/13/30 | &nbsp;&nbsp; 370 | 325592 |
| 3.05%, 03/22/27 | &nbsp;&nbsp; 685 | 664701 |
| 3.05%, 01/11/28 | &nbsp;&nbsp; 190 | 181627 |
| 3.20%, 01/11/27 | &nbsp;&nbsp; 342 | 333199 |
| 3.38%, 04/01/30 | &nbsp;&nbsp; 610 | 570054 |
| 3.65%, 01/08/29 | &nbsp;&nbsp; 205 | 198332 |
| 4.35%, 10/08/27 | &nbsp;&nbsp; 310 | 308791 |
| 4.45%, 05/18/26 | &nbsp;&nbsp; 830 | 830103 |
| 4.45%, 06/29/29 | &nbsp;&nbsp; 300 | 297392 |
| 4.55%, 08/07/26 | &nbsp;&nbsp; 410 | 410774 |
| 4.55%, 09/20/27 | &nbsp;&nbsp; 440 | 440939 |
| 4.55%, 08/09/29 | &nbsp;&nbsp; 615 | 610861 |
| 4.55%, 05/17/30 | &nbsp;&nbsp; 270 | 267078 |
| 4.60%, 10/10/31 | &nbsp;&nbsp; 355 | 348494 |
| 4.63%, 01/12/28 | &nbsp;&nbsp; 375 | 375825 |
| 4.65%, 01/05/29 | &nbsp;&nbsp; 165 | 165118 |
| 4.70%, 01/12/33<sup>(a)</sup> | &nbsp;&nbsp; 315 | 311690 |
| 4.80%, 01/05/26 | &nbsp;&nbsp; 195 | 195754 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 4.80%, 01/05/34 | &nbsp;&nbsp; $705 | $695532 |
| 5.00%, 08/14/26 | &nbsp;&nbsp; 405 | 408811 |
| 5.05%, 05/16/29 | &nbsp;&nbsp; 385 | 390183 |
| 5.10%, 03/21/31 | &nbsp;&nbsp; 415 | 420809 |
| 5.20%, 05/15/26 | &nbsp;&nbsp; 435 | 439838 |
| 5.25%, 09/11/28 | &nbsp;&nbsp; 345 | 352626 |
| 5.40%, 11/10/25 | &nbsp;&nbsp; 355 | 358359 |
| 5.40%, 11/20/26<sup>(a)</sup> | &nbsp;&nbsp; 450 | 458182 |
| 5.45%, 11/10/27 | &nbsp;&nbsp; 315 | 323249 |
| 5.55%, 11/20/30 | &nbsp;&nbsp; 707 | 733749 |
| Series B, 5.00%, 03/19/27 | &nbsp;&nbsp; 255 | 258039 |
|  |  | 30051741 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| Magna International Inc. |  |  |
| 2.45%, 06/15/30 | &nbsp;&nbsp; 436 | 382510 |
| 5.50%, 03/21/33<sup>(a)</sup> | &nbsp;&nbsp; 235 | 241340 |
|  |  | 623850 |
| **Banks — 33.6%** | **Banks — 33.6%** | **Banks — 33.6%** |
| Australia & New Zealand Banking Group Ltd. |  |  |
| 3.70%, 11/16/25 | &nbsp;&nbsp; 320 | 317285 |
| 5.09%, 12/08/25 | &nbsp;&nbsp; 465 | 467630 |
| Australia & New Zealand Banking Group <br> Ltd./New York<br>|  |  |
| 3.92%, 09/30/27 | &nbsp;&nbsp; 345 | 340066 |
| 4.75%, 01/18/27 | &nbsp;&nbsp; 315 | 316877 |
| 4.90%, 07/16/27 | &nbsp;&nbsp; 920 | 931192 |
| 5.00%, 03/18/26 | &nbsp;&nbsp; 530 | 533678 |
| Banco Bilbao Vizcaya Argentaria SA, 5.38%, <br> 03/13/29<br>| &nbsp;&nbsp; 320 | 324861 |
| Banco Santander SA |  |  |
| 1.72%, 09/14/27, (1-year CMT + 0.900%)<sup>(b)</sup> | &nbsp;&nbsp; 855 | 804596 |
| 1.85%, 03/25/26 | &nbsp;&nbsp; 845 | 809664 |
| 2.96%, 03/25/31 | &nbsp;&nbsp; 250 | 220229 |
| 3.31%, 06/27/29 | &nbsp;&nbsp; 545 | 509154 |
| 3.49%, 05/28/30 | &nbsp;&nbsp; 675 | 618710 |
| 3.80%, 02/23/28 | &nbsp;&nbsp; 673 | 648325 |
| 4.18%, 03/24/28, (1-year CMT + 2.000%)<sup>(b)</sup> | &nbsp;&nbsp; 820 | 804005 |
| 4.25%, 04/11/27 | &nbsp;&nbsp; 405 | 398980 |
| 4.38%, 04/12/28 | &nbsp;&nbsp; 628 | 614883 |
| 5.29%, 08/18/27 | &nbsp;&nbsp; 895 | 901414 |
| 5.37%, 07/15/28, (1-year CMT + 0.950%)<sup>(b)</sup> | &nbsp;&nbsp; 435 | 438693 |
| 5.44%, 07/15/31 | &nbsp;&nbsp; 660 | 670482 |
| 5.54%, 03/14/30, (1-year CMT + 1.450%)<sup>(b)</sup> | &nbsp;&nbsp; 870 | 881144 |
| 5.55%, 03/14/28, (1-year CMT + 1.250%)<sup>(b)</sup> | &nbsp;&nbsp; 400 | 404152 |
| 5.59%, 08/08/28 | &nbsp;&nbsp; 1035 | 1057792 |
| 6.53%, 11/07/27, (1-year CMT + 1.650%)<sup>(b)</sup> | &nbsp;&nbsp; 440 | 454493 |
| 6.61%, 11/07/28 | &nbsp;&nbsp; 440 | 466805 |
| 6.94%, 11/07/33 | &nbsp;&nbsp; 970 | 1080792 |
| Bank of America Corp. |  |  |
| 1.73%, 07/22/27, (1-day SOFR + 0.960%)<sup>(b)</sup> | &nbsp;&nbsp; 1840 | 1745802 |
| 1.90%, 07/23/31, (1-day SOFR + 1.530%)<sup>(b)</sup> | &nbsp;&nbsp; 840 | 708811 |
| 1.92%, 10/24/31, (1-day SOFR + 1.370%)<sup>(b)</sup> | &nbsp;&nbsp; 890 | 745458 |
| 2.09%, 06/14/29, (1-day SOFR + 1.060%)<sup>(b)</sup> | &nbsp;&nbsp; 645 | 584783 |
| 2.30%, 07/21/32, (1-day SOFR + 1.220%)<sup>(b)</sup> | &nbsp;&nbsp; 805 | 676752 |
| 2.48%, 09/21/36, (5-year CMT + 1.200%)<sup>(b)</sup> | &nbsp;&nbsp; 750 | 614679 |
| 2.50%, 02/13/31, <br> (3-mo. CME Term SOFR + 1.252%)<sup>(b)</sup><br>| &nbsp;&nbsp; 755 | 667298 |
| 2.55%, 02/04/28, (1-day SOFR + 1.050%)<sup>(b)</sup> | &nbsp;&nbsp; 440 | 418568 |
| 2.57%, 10/20/32, (1-day SOFR + 1.210%)<sup>(b)</sup> | &nbsp;&nbsp; 750 | 637240 |
| 2.59%, 04/29/31, (1-day SOFR + 2.150%)<sup>(b)</sup> | &nbsp;&nbsp; 609 | 538031 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 2.68%, 06/19/41, (1-day SOFR + 1.930%)<sup>(b)</sup> | &nbsp;&nbsp; $1300 | $927999 |
| 2.69%, 04/22/32, (1-day SOFR + 1.320%)<sup>(b)</sup> | &nbsp;&nbsp; 1915 | 1660767 |
| 2.83%, 10/24/51, (1-day SOFR + 1.880%)<sup>(b)</sup> | &nbsp;&nbsp; 210 | 136864 |
| 2.88%, 10/22/30, <br> (3-mo. CME Term SOFR + 1.452%)<sup>(b)</sup><br>| &nbsp;&nbsp; 615 | 558118 |
| 2.97%, 02/04/33, (1-day SOFR + 1.330%)<sup>(b)</sup> | &nbsp;&nbsp; 860 | 746491 |
| 2.97%, 07/21/52, (1-day SOFR + 1.560%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 595 | 398909 |
| 3.19%, 07/23/30, <br> (3-mo. CME Term SOFR + 1.442%)<sup>(b)</sup><br>| &nbsp;&nbsp; 886 | 820027 |
| 3.25%, 10/21/27 | &nbsp;&nbsp; 469 | 452484 |
| 3.31%, 04/22/42, (1-day SOFR + 1.580%)<sup>(b)</sup> | &nbsp;&nbsp; 910 | 701917 |
| 3.42%, 12/20/28, <br> (3-mo. CME Term SOFR + 1.302%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1862 | 1785482 |
| 3.50%, 04/19/26 | &nbsp;&nbsp; 740 | 728598 |
| 3.56%, 04/23/27, <br> (3-mo. CME Term SOFR + 1.322%)<sup>(b)</sup><br>| &nbsp;&nbsp; 872 | 856250 |
| 3.59%, 07/21/28, <br> (3-mo. CME Term SOFR + 1.632%)<sup>(b)</sup><br>| &nbsp;&nbsp; 959 | 928685 |
| 3.71%, 04/24/28, <br> (3-mo. CME Term SOFR + 1.774%)<sup>(b)</sup><br>| &nbsp;&nbsp; 785 | 764383 |
| 3.82%, 01/20/28, <br> (3-mo. CME Term SOFR + 1.837%)<sup>(b)</sup><br>| &nbsp;&nbsp; 950 | 929941 |
| 3.85%, 03/08/37, (5-year CMT + 2.000%)<sup>(b)</sup> | &nbsp;&nbsp; 940 | 843053 |
| 3.95%, 01/23/49, <br> (3-mo. CME Term SOFR + 1.452%)<sup>(b)</sup><br>| &nbsp;&nbsp; 709 | 573757 |
| 3.97%, 03/05/29, <br> (3-mo. CME Term SOFR + 1.332%)<sup>(b)</sup><br>| &nbsp;&nbsp; 934 | 907245 |
| 3.97%, 02/07/30, <br> (3-mo. CME Term SOFR + 1.472%)<sup>(b)</sup><br>| &nbsp;&nbsp; 770 | 740446 |
| 4.08%, 04/23/40, <br> (3-mo. CME Term SOFR + 1.582%)<sup>(b)</sup><br>| &nbsp;&nbsp; 338 | 294157 |
| 4.08%, 03/20/51, <br> (3-mo. CME Term SOFR + 3.412%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1888 | 1550257 |
| 4.24%, 04/24/38, <br> (3-mo. CME Term SOFR + 2.076%)<sup>(b)</sup><br>| &nbsp;&nbsp; 808 | 729060 |
| 4.25%, 10/22/26 | &nbsp;&nbsp; 830 | 822052 |
| 4.27%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(b)</sup><br>| &nbsp;&nbsp; 613 | 600190 |
| 4.33%, 03/15/50, <br> (3-mo. CME Term SOFR + 1.782%)<sup>(b)</sup><br>| &nbsp;&nbsp; 769 | 657865 |
| 4.38%, 04/27/28, (1-day SOFR + 1.580%)<sup>(b)</sup> | &nbsp;&nbsp; 945 | 935252 |
| 4.44%, 01/20/48, <br> (3-mo. CME Term SOFR + 2.252%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 515 | 449919 |
| 4.45%, 03/03/26 | &nbsp;&nbsp; 445 | 442696 |
| 4.57%, 04/27/33, (1-day SOFR + 1.830%)<sup>(b)</sup> | &nbsp;&nbsp; 1775 | 1708350 |
| 4.88%, 04/01/44 | &nbsp;&nbsp; 190 | 179587 |
| 4.95%, 07/22/28, (1-day SOFR + 2.040%)<sup>(b)</sup> | &nbsp;&nbsp; 1085 | 1089279 |
| 5.00%, 01/21/44 | &nbsp;&nbsp; 587 | 564475 |
| 5.02%, 07/22/33, (1-day SOFR + 2.160%)<sup>(b)</sup> | &nbsp;&nbsp; 1400 | 1390802 |
| 5.08%, 01/20/27, (1-day SOFR + 1.290%)<sup>(b)</sup> | &nbsp;&nbsp; 640 | 641697 |
| 5.20%, 04/25/29, (1-day SOFR + 1.630%)<sup>(b)</sup> | &nbsp;&nbsp; 795 | 802883 |
| 5.29%, 04/25/34, (1-day SOFR + 1.910%)<sup>(b)</sup> | &nbsp;&nbsp; 1440 | 1446887 |
| 5.43%, 08/15/35, (1-day SOFR +1.913%)<sup>(b)</sup> | &nbsp;&nbsp; 830 | 818634 |
| 5.47%, 01/23/35, (1-day SOFR + 1.650%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1275 | 1293955 |
| 5.52%, 10/25/35, (1-day SOFR + 1.738%)<sup>(b)</sup> | &nbsp;&nbsp; 1200 | 1191126 |
| 5.82%, 09/15/29, (1-day SOFR + 1.570%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1055 | 1089310 |
| 5.87%, 09/15/34, (1-day SOFR + 1.840%)<sup>(b)</sup> | &nbsp;&nbsp; 1010 | 1053115 |
| 5.88%, 02/07/42 | &nbsp;&nbsp; 548 | 583283 |
| 5.93%, 09/15/27, (1-day SOFR + 1.340%)<sup>(b)</sup> | &nbsp;&nbsp; 660 | 673980 |
| 6.11%, 01/29/37 | &nbsp;&nbsp; 465 | 492415 |
| 6.20%, 11/10/28, (1-day SOFR + 1.990%)<sup>(b)</sup> | &nbsp;&nbsp; 830 | 862486 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 7.75%, 05/14/38 | &nbsp;&nbsp; $480 | $576698 |
| Series L, 4.18%, 11/25/27 | &nbsp;&nbsp; 320 | 314298 |
| Series L, 4.75%, 04/21/45 | &nbsp;&nbsp; 240 | 218510 |
| Series N, 1.66%, 03/11/27, <br> (1-day SOFR + 0.910%)<sup>(b)</sup><br>| &nbsp;&nbsp; 900 | 861713 |
| Series N, 2.65%, 03/11/32, <br> (1-day SOFR + 1.220%)<sup>(b)</sup><br>| &nbsp;&nbsp; 491 | 425581 |
| Series N, 3.48%, 03/13/52, <br> (1-day SOFR + 1.650%)<sup>(b)</sup><br>| &nbsp;&nbsp; 275 | 203303 |
| Bank of America NA |  |  |
| 5.53%, 08/18/26 | &nbsp;&nbsp; 705 | 717500 |
| 6.00%, 10/15/36 | &nbsp;&nbsp; 375 | 397229 |
| Bank of Montreal |  |  |
| 0.95%, 01/22/27, (1-day SOFR + 0.603%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 365 | 347993 |
| 1.25%, 09/15/26 | &nbsp;&nbsp; 560 | 526376 |
| 2.65%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 630 | 603277 |
| 4.64%, 09/10/30, (1-day SOFR + 1.250%)<sup>(b)</sup> | &nbsp;&nbsp; 375 | 370501 |
| 5.20%, 02/01/28 | &nbsp;&nbsp; 675 | 685955 |
| 5.27%, 12/11/26 | &nbsp;&nbsp; 525 | 531857 |
| 5.30%, 06/05/26 | &nbsp;&nbsp; 565 | 571004 |
| 5.37%, 06/04/27 | &nbsp;&nbsp; 325 | 332316 |
| 5.51%, 06/04/31 | &nbsp;&nbsp; 615 | 629537 |
| 5.72%, 09/25/28 | &nbsp;&nbsp; 615 | 635952 |
| Series f2f, 4.57%, 09/10/27, <br> (1-day SOFR + 0.880%)<sup>(b)</sup><br>| &nbsp;&nbsp; 705 | 703827 |
| Series H, 4.70%, 09/14/27<sup>(a)</sup> | &nbsp;&nbsp; 800 | 801961 |
| Bank of New York Mellon Corp. (The) |  |  |
| 0.75%, 01/28/26 | &nbsp;&nbsp; 340 | 324637 |
| 1.05%, 10/15/26 | &nbsp;&nbsp; 255 | 238725 |
| 1.65%, 07/14/28 | &nbsp;&nbsp; 225 | 202616 |
| 1.65%, 01/28/31<sup>(a)</sup> | &nbsp;&nbsp; 300 | 251146 |
| 1.80%, 07/28/31<sup>(a)</sup> | &nbsp;&nbsp; 195 | 162513 |
| 2.05%, 01/26/27<sup>(a)</sup> | &nbsp;&nbsp; 450 | 427213 |
| 2.45%, 08/17/26 | &nbsp;&nbsp; 638 | 617247 |
| 2.80%, 05/04/26 | &nbsp;&nbsp; 847 | 827521 |
| 3.00%, 10/30/28 | &nbsp;&nbsp; 181 | 169594 |
| 3.25%, 05/16/27 | &nbsp;&nbsp; 433 | 420061 |
| 3.30%, 08/23/29 | &nbsp;&nbsp; 465 | 434138 |
| 3.40%, 01/29/28 | &nbsp;&nbsp; 283 | 273566 |
| 3.44%, 02/07/28, <br> (3-mo. CME Term SOFR + 1.331%)<sup>(b)</sup><br>| &nbsp;&nbsp; 626 | 609328 |
| 3.85%, 04/28/28 | &nbsp;&nbsp; 375 | 366542 |
| 3.99%, 06/13/28, (1-day SOFR + 1.151%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 245 | 241398 |
| 4.29%, 06/13/33, (1-day SOFR + 1.418%)<sup>(b)</sup> | &nbsp;&nbsp; 475 | 452094 |
| 4.54%, 02/01/29, (1-day SOFR + 1.169%)<sup>(b)</sup> | &nbsp;&nbsp; 315 | 313318 |
| 4.60%, 07/26/30, (1-day SOFR + 1.755%)<sup>(b)</sup> | &nbsp;&nbsp; 135 | 133751 |
| 4.71%, 02/01/34, (1-day SOFR + 1.512%)<sup>(b)</sup> | &nbsp;&nbsp; 330 | 321309 |
| 4.89%, 07/21/28, (1-day SOFR +0.840%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 285 | 286603 |
| 4.95%, 04/26/27, (1-day SOFR + 1.026%)<sup>(b)</sup> | &nbsp;&nbsp; 1245 | 1250913 |
| 4.97%, 04/26/34, (1-day SOFR + 1.606%)<sup>(b)</sup> | &nbsp;&nbsp; 400 | 395909 |
| 4.98%, 03/14/30, (1-day SOFR +1.085%)<sup>(b)</sup> | &nbsp;&nbsp; 745 | 750089 |
| 5.06%, 07/22/32, (1-day SOFR + 1.230%)<sup>(b)</sup> | &nbsp;&nbsp; 380 | 381593 |
| 5.19%, 03/14/35, (1-day SOFR + 1.418%)<sup>(b)</sup> | &nbsp;&nbsp; 730 | 731792 |
| 5.61%, 07/21/39, (1-day SOFR + 1.770%)<sup>(b)</sup> | &nbsp;&nbsp; 130 | 132027 |
| 5.80%, 10/25/28, <br> (1-day SOFR Index + 1.802%)<sup>(b)</sup><br>| &nbsp;&nbsp; 440 | 453964 |
| 5.83%, 10/25/33, <br> (1-day SOFR Index + 2.074%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1050 | 1103989 |
| 6.32%, 10/25/29, (1-day SOFR + 1.598%)<sup>(b)</sup> | &nbsp;&nbsp; 320 | 337515 |
| 6.47%, 10/25/34, (1-day SOFR + 1.845%)<sup>(b)</sup> | &nbsp;&nbsp; 525 | 574054 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Bank of Nova Scotia (The) |  |  |
| 1.05%, 03/02/26 | &nbsp;&nbsp; $590 | $562716 |
| 1.30%, 09/15/26 | &nbsp;&nbsp; 505 | 475349 |
| 1.35%, 06/24/26 | &nbsp;&nbsp; 445 | 422510 |
| 1.95%, 02/02/27 | &nbsp;&nbsp; 365 | 344378 |
| 2.15%, 08/01/31 | &nbsp;&nbsp; 275 | 231045 |
| 2.45%, 02/02/32 | &nbsp;&nbsp; 260 | 219930 |
| 2.70%, 08/03/26 | &nbsp;&nbsp; 999 | 967797 |
| 2.95%, 03/11/27 | &nbsp;&nbsp; 180 | 173405 |
| 4.40%, 09/08/28, (1-day SOFR + 1.000%)<sup>(b)</sup> | &nbsp;&nbsp; 175 | 173208 |
| 4.74%, 11/10/32, (1-day SOFR + 1.440%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 175 | 170873 |
| 4.75%, 02/02/26 | &nbsp;&nbsp; 480 | 480571 |
| 4.85%, 02/01/30 | &nbsp;&nbsp; 1395 | 1392729 |
| 5.25%, 06/12/28 | &nbsp;&nbsp; 350 | 356156 |
| 5.35%, 12/07/26<sup>(a)</sup> | &nbsp;&nbsp; 545 | 553598 |
| 5.40%, 06/04/27<sup>(a)</sup> | &nbsp;&nbsp; 845 | 862140 |
| 5.45%, 08/01/29 | &nbsp;&nbsp; 175 | 179575 |
| 5.65%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; 925 | 957355 |
| BPCE SA, 3.38%, 12/02/26 | &nbsp;&nbsp; 50 | 48843 |
| Canadian Imperial Bank of Commerce |  |  |
| 1.25%, 06/22/26 | &nbsp;&nbsp; 710 | 673033 |
| 3.45%, 04/07/27 | &nbsp;&nbsp; 415 | 403786 |
| 3.60%, 04/07/32 | &nbsp;&nbsp; 795 | 725642 |
| 4.51%, 09/11/27, (1-day SOFR + 0.930%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 505 | 503152 |
| 4.63%, 09/11/30, (1-day SOFR + 1.335%)<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196934 |
| 5.00%, 04/28/28 | &nbsp;&nbsp; 280 | 281999 |
| 5.24%, 06/28/27 | &nbsp;&nbsp; 980 | 994124 |
| 5.26%, 04/08/29 | &nbsp;&nbsp; 570 | 579820 |
| 5.93%, 10/02/26 | &nbsp;&nbsp; 415 | 424791 |
| 5.99%, 10/03/28 | &nbsp;&nbsp; 260 | 271475 |
| 6.09%, 10/03/33<sup>(a)</sup> | &nbsp;&nbsp; 1035 | 1102951 |
| Citibank NA |  |  |
| 4.84%, 08/06/29 | &nbsp;&nbsp; 850 | 852635 |
| 4.93%, 08/06/26 | &nbsp;&nbsp; 810 | 815013 |
| 5.44%, 04/30/26 | &nbsp;&nbsp; 880 | 890567 |
| 5.49%, 12/04/26 | &nbsp;&nbsp; 885 | 901392 |
| 5.57%, 04/30/34 | &nbsp;&nbsp; 695 | 716321 |
| 5.80%, 09/29/28<sup>(a)</sup> | &nbsp;&nbsp; 1365 | 1417397 |
| Citigroup Inc. |  |  |
| 1.12%, 01/28/27, (1-day SOFR + 0.765%)<sup>(b)</sup> | &nbsp;&nbsp; 1060 | 1012056 |
| 1.46%, 06/09/27, (1-day SOFR + 0.770%)<sup>(b)</sup> | &nbsp;&nbsp; 1486 | 1409623 |
| 2.52%, 11/03/32, (1-day SOFR + 1.177%)<sup>(b)</sup> | &nbsp;&nbsp; 765 | 644778 |
| 2.56%, 05/01/32, (1-day SOFR + 1.167%)<sup>(b)</sup> | &nbsp;&nbsp; 1265 | 1081889 |
| 2.57%, 06/03/31, (1-day SOFR + 2.107%)<sup>(b)</sup> | &nbsp;&nbsp; 1338 | 1174171 |
| 2.67%, 01/29/31, (1-day SOFR + 1.146%)<sup>(b)</sup> | &nbsp;&nbsp; 871 | 773089 |
| 2.90%, 11/03/42, (1-day SOFR + 1.379%)<sup>(b)</sup> | &nbsp;&nbsp; 510 | 366364 |
| 2.98%, 11/05/30, (1-day SOFR + 1.422%)<sup>(b)</sup> | &nbsp;&nbsp; 1083 | 982983 |
| 3.06%, 01/25/33, (1-day SOFR + 1.351%)<sup>(b)</sup> | &nbsp;&nbsp; 1655 | 1439036 |
| 3.07%, 02/24/28, (1-day SOFR + 1.280%)<sup>(b)</sup> | &nbsp;&nbsp; 1320 | 1269615 |
| 3.20%, 10/21/26 | &nbsp;&nbsp; 1324 | 1286688 |
| 3.40%, 05/01/26 | &nbsp;&nbsp; 1155 | 1133283 |
| 3.52%, 10/27/28, <br> (3-mo. CME Term SOFR + 1.413%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1511 | 1455372 |
| 3.67%, 07/24/28, <br> (3-mo. CME Term SOFR + 1.652%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1314 | 1273255 |
| 3.70%, 01/12/26 | &nbsp;&nbsp; 770 | 760986 |
| 3.79%, 03/17/33, (1-day SOFR + 1.939%)<sup>(b)</sup> | &nbsp;&nbsp; 2070 | 1881687 |
| 3.88%, 01/24/39, <br> (3-mo. CME Term SOFR + 1.430%)<sup>(b)</sup><br>| &nbsp;&nbsp; 436 | 370248 |
| 3.89%, 01/10/28, <br> (3-mo. CME Term SOFR + 1.825%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1211 | 1186280 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.98%, 03/20/30, <br> (3-mo. CME Term SOFR + 1.600%)<sup>(b)</sup><br>| &nbsp;&nbsp; $1090 | $1045361 |
| 4.08%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.454%)<sup>(b)</sup><br>| &nbsp;&nbsp; 999 | 971785 |
| 4.28%, 04/24/48, <br> (3-mo. CME Term SOFR + 2.101%)<sup>(b)</sup><br>| &nbsp;&nbsp; 561 | 474051 |
| 4.41%, 03/31/31, (1-day SOFR + 3.914%)<sup>(b)</sup> | &nbsp;&nbsp; 1879 | 1816980 |
| 4.54%, 09/19/30, (1-day SOFR + 1.338%)<sup>(b)</sup> | &nbsp;&nbsp; 1555 | 1523311 |
| 4.65%, 07/30/45 | &nbsp;&nbsp; 389 | 347787 |
| 4.65%, 07/23/48 | &nbsp;&nbsp; 1343 | 1200017 |
| 4.66%, 05/24/28, (1-day SOFR + 1.887%)<sup>(b)</sup> | &nbsp;&nbsp; 615 | 612583 |
| 4.91%, 05/24/33, (1-day SOFR + 2.086%)<sup>(b)</sup> | &nbsp;&nbsp; 1050 | 1028555 |
| 5.17%, 02/13/30, (1-day SOFR + 1.364%)<sup>(b)</sup> | &nbsp;&nbsp; 2760 | 2775359 |
| 5.32%, 03/26/41, (1-day SOFR + 4.548%)<sup>(b)</sup> | &nbsp;&nbsp; 680 | 667394 |
| 5.45%, 06/11/35, (1-day SOFR + 1.447%)<sup>(b)</sup> | &nbsp;&nbsp; 1390 | 1402035 |
| 5.88%, 01/30/42 | &nbsp;&nbsp; 885 | 929144 |
| 6.27%, 11/17/33, (1-day SOFR + 2.338%)<sup>(b)</sup> | &nbsp;&nbsp; 1295 | 1378941 |
| 8.13%, 07/15/39 | &nbsp;&nbsp; 948 | 1194495 |
| Commonwealth Bank of Australia/New York, <br> 5.32%, 03/13/26<br>| &nbsp;&nbsp; 390 | 394256 |
| Cooperatieve Rabobank UA, 5.25%, 05/24/41 | &nbsp;&nbsp; 831 | 837346 |
| Cooperatieve Rabobank UA/New York |  |  |
| 4.33%, 08/28/26 | &nbsp;&nbsp; 285 | 284712 |
| 4.49%, 10/17/29 | &nbsp;&nbsp; 335 | 330844 |
| 4.80%, 01/09/29 | &nbsp;&nbsp; 250 | 251434 |
| 4.85%, 01/09/26 | &nbsp;&nbsp; 260 | 260940 |
| 5.04%, 03/05/27 | &nbsp;&nbsp; 515 | 521885 |
| 5.50%, 10/05/26 | &nbsp;&nbsp; 450 | 458516 |
| Deutsche Bank AG/New York |  |  |
| 1.69%, 03/19/26 | &nbsp;&nbsp; 690 | 662562 |
| 5.41%, 05/10/29 | &nbsp;&nbsp; 315 | 319677 |
| Fifth Third Bank NA, 2.25%, 02/01/27 | &nbsp;&nbsp; 320 | 303675 |
| Goldman Sachs Bank USA/New York |  |  |
| 5.28%, 03/18/27, (1-day SOFR +0.777%)<sup>(b)</sup> | &nbsp;&nbsp; 925 | 930747 |
| 5.41%, 05/21/27, (1-day SOFR +0.750%)<sup>(b)</sup> | &nbsp;&nbsp; 1310 | 1322303 |
| Goldman Sachs Group Inc. (The) |  |  |
| 1.09%, 12/09/26, (1-day SOFR + 0.789%)<sup>(b)</sup> | &nbsp;&nbsp; 930 | 891454 |
| 1.43%, 03/09/27, (1-day SOFR + 0.798%)<sup>(b)</sup> | &nbsp;&nbsp; 1250 | 1193485 |
| 1.54%, 09/10/27, (1-day SOFR + 0.818%)<sup>(b)</sup> | &nbsp;&nbsp; 1392 | 1311242 |
| 1.95%, 10/21/27, (1-day SOFR + 0.913%)<sup>(b)</sup> | &nbsp;&nbsp; 2420 | 2288218 |
| 1.99%, 01/27/32, (1-day SOFR + 1.090%)<sup>(b)</sup> | &nbsp;&nbsp; 1165 | 970354 |
| 2.38%, 07/21/32, (1-day SOFR + 1.248%)<sup>(b)</sup> | &nbsp;&nbsp; 1457 | 1228471 |
| 2.60%, 02/07/30 | &nbsp;&nbsp; 948 | 847024 |
| 2.62%, 04/22/32, (1-day SOFR + 1.281%)<sup>(b)</sup> | &nbsp;&nbsp; 1590 | 1367536 |
| 2.64%, 02/24/28, (1-day SOFR + 1.114%)<sup>(b)</sup> | &nbsp;&nbsp; 1355 | 1290043 |
| 2.65%, 10/21/32, (1-day SOFR + 1.264%)<sup>(b)</sup> | &nbsp;&nbsp; 1225 | 1044570 |
| 2.91%, 07/21/42, (1-day SOFR + 1.472%)<sup>(b)</sup> | &nbsp;&nbsp; 767 | 554460 |
| 3.10%, 02/24/33, (1-day SOFR + 1.410%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1685 | 1472397 |
| 3.21%, 04/22/42, (1-day SOFR + 1.513%)<sup>(b)</sup> | &nbsp;&nbsp; 882 | 666408 |
| 3.44%, 02/24/43, (1-day SOFR + 1.632%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 770 | 594180 |
| 3.50%, 11/16/26 | &nbsp;&nbsp; 1246 | 1215889 |
| 3.62%, 03/15/28, (1-day SOFR + 1.846%)<sup>(b)</sup> | &nbsp;&nbsp; 1775 | 1725694 |
| 3.69%, 06/05/28, <br> (3-mo. CME Term SOFR + 1.772%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1380 | 1341695 |
| 3.75%, 02/25/26 | &nbsp;&nbsp; 945 | 933184 |
| 3.80%, 03/15/30 | &nbsp;&nbsp; 1253 | 1186033 |
| 3.81%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.420%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1163 | 1121138 |
| 3.85%, 01/26/27 | &nbsp;&nbsp; 1037 | 1016861 |
| 4.02%, 10/31/38, <br> (3-mo. CME Term SOFR + 1.635%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1343 | 1164297 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.22%, 05/01/29, <br> (3-mo. CME Term SOFR + 1.563%)<sup>(b)</sup><br>| &nbsp;&nbsp; $1757 | $1716658 |
| 4.39%, 06/15/27, (1-day SOFR + 1.510%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 595 | 591590 |
| 4.41%, 04/23/39, <br> (3-mo. CME Term SOFR + 1.692%)<sup>(b)</sup><br>| &nbsp;&nbsp; 705 | 633073 |
| 4.48%, 08/23/28, (1-day SOFR + 1.725%)<sup>(b)</sup> | &nbsp;&nbsp; 1540 | 1526444 |
| 4.69%, 10/23/30, (1-day SOFR + 1.135%)<sup>(b)</sup> | &nbsp;&nbsp; 830 | 819670 |
| 4.75%, 10/21/45 | &nbsp;&nbsp; 1175 | 1077381 |
| 4.80%, 07/08/44 | &nbsp;&nbsp; 1073 | 989995 |
| 5.02%, 10/23/35, (1-day SOFR + 1.420%)<sup>(b)</sup> | &nbsp;&nbsp; 1130 | 1103614 |
| 5.05%, 07/23/30, (1-day SOFR + 1.210%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1485 | 1488332 |
| 5.33%, 07/23/35, (1-day SOFR + 1.550%)<sup>(b)</sup> | &nbsp;&nbsp; 925 | 924832 |
| 5.73%, 04/25/30, (1-day SOFR +1.265%)<sup>(b)</sup> | &nbsp;&nbsp; 1740 | 1788864 |
| 5.85%, 04/25/35, (1-day SOFR + 1.552%)<sup>(b)</sup> | &nbsp;&nbsp; 1060 | 1098489 |
| 6.13%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 1343 | 1457383 |
| 6.25%, 02/01/41 | &nbsp;&nbsp; 1514 | 1638700 |
| 6.48%, 10/24/29, (1-day SOFR + 1.770%)<sup>(b)</sup> | &nbsp;&nbsp; 1200 | 1265992 |
| 6.56%, 10/24/34, (1-day SOFR + 1.950%)<sup>(b)</sup> | &nbsp;&nbsp; 1200 | 1311032 |
| HSBC Bank USA NA, 7.00%, 01/15/39 | &nbsp;&nbsp; 665 | 761688 |
| HSBC Holdings PLC |  |  |
| 1.59%, 05/24/27, (1-day SOFR + 1.290%)<sup>(b)</sup> | &nbsp;&nbsp; 5 | 4751 |
| 2.01%, 09/22/28, (1-day SOFR + 1.732%)<sup>(b)</sup> | &nbsp;&nbsp; 850 | 782950 |
| 2.21%, 08/17/29, (1-day SOFR + 1.285%)<sup>(b)</sup> | &nbsp;&nbsp; 745 | 670890 |
| 2.25%, 11/22/27, (1-day SOFR + 1.100%)<sup>(b)</sup> | &nbsp;&nbsp; 275 | 260850 |
| 2.36%, 08/18/31, (1-day SOFR + 1.947%)<sup>(b)</sup> | &nbsp;&nbsp; 865 | 742120 |
| 2.80%, 05/24/32, (1-day SOFR + 1.187%)<sup>(b)</sup> | &nbsp;&nbsp; 1320 | 1137943 |
| 2.85%, 06/04/31, (1-day SOFR + 2.387%)<sup>(b)</sup> | &nbsp;&nbsp; 730 | 646825 |
| 2.87%, 11/22/32, (1-day SOFR + 1.410%)<sup>(b)</sup> | &nbsp;&nbsp; 1335 | 1144904 |
| 3.90%, 05/25/26<sup>(a)</sup> | &nbsp;&nbsp; 410 | 404746 |
| 3.97%, 05/22/30, <br> (3-mo. CME Term SOFR + 1.872%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1543 | 1469751 |
| 4.04%, 03/13/28, <br> (3-mo. CME Term SOFR + 1.808%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1078 | 1056061 |
| 4.30%, 03/08/26 | &nbsp;&nbsp; 200 | 198763 |
| 4.58%, 06/19/29, <br> (3-mo. CME Term SOFR + 1.796%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1248 | 1227133 |
| 4.76%, 06/09/28, (1-day SOFR + 2.110%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1340 | 1332989 |
| 4.95%, 03/31/30 | &nbsp;&nbsp; 1368 | 1369645 |
| 5.21%, 08/11/28, (1-day SOFR + 2.610%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1175 | 1182691 |
| 5.40%, 08/11/33, (1-day SOFR + 2.870%)<sup>(b)</sup> | &nbsp;&nbsp; 936 | 940735 |
| 5.55%, 03/04/30, (1-day SOFR + 1.460%)<sup>(b)</sup> | &nbsp;&nbsp; 655 | 665142 |
| 5.60%, 05/17/28, (1-day SOFR + 1.060%)<sup>(b)</sup> | &nbsp;&nbsp; 1345 | 1365031 |
| 5.72%, 03/04/35, (1-day SOFR + 1.780%)<sup>(b)</sup> | &nbsp;&nbsp; 630 | 646549 |
| 5.73%, 05/17/32, (1-day SOFR + 1.520%)<sup>(b)</sup> | &nbsp;&nbsp; 1470 | 1505256 |
| 5.89%, 08/14/27, (1-day SOFR + 1.570%)<sup>(b)</sup> | &nbsp;&nbsp; 1705 | 1734775 |
| 6.10%, 01/14/42<sup>(a)</sup> | &nbsp;&nbsp; 435 | 477746 |
| 6.16%, 03/09/29, (1-day SOFR + 1.970%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 755 | 781313 |
| 6.25%, 03/09/34, (1-day SOFR + 2.390%)<sup>(b)</sup> | &nbsp;&nbsp; 1655 | 1753743 |
| 6.33%, 03/09/44, (1-day SOFR + 2.650%)<sup>(b)</sup> | &nbsp;&nbsp; 1210 | 1306574 |
| 7.34%, 11/03/26, (1-day SOFR + 3.030%)<sup>(b)</sup> | &nbsp;&nbsp; 580 | 593102 |
| 7.39%, 11/03/28, (1-day SOFR + 3.350%)<sup>(b)</sup> | &nbsp;&nbsp; 1390 | 1480724 |
| HSBC USA Inc., 5.29%, 03/04/27 | &nbsp;&nbsp; 600 | 608413 |
| Huntington National Bank (The) |  |  |
| 4.55%, 05/17/28, <br> (1-day SOFR Index + 1.650%)<sup>(b)</sup><br>| &nbsp;&nbsp; 360 | 357448 |
| 5.65%, 01/10/30 | &nbsp;&nbsp; 455 | 464867 |
| ING Groep NV |  |  |
| 1.73%, 04/01/27, (1-day SOFR + 1.005%)<sup>(b)</sup> | &nbsp;&nbsp; 505 | 483115 |
| 2.73%, 04/01/32, (1-day SOFR + 1.316%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 428 | 371645 |
| 3.95%, 03/29/27 | &nbsp;&nbsp; 635 | 622211 |
| 4.02%, 03/28/28, (1-day SOFR + 1.830%)<sup>(b)</sup> | &nbsp;&nbsp; 630 | 617192 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.05%, 04/09/29 | &nbsp;&nbsp; $395 | $381908 |
| 4.25%, 03/28/33, (1-day SOFR + 2.070%)<sup>(b)</sup> | &nbsp;&nbsp; 510 | 479971 |
| 4.55%, 10/02/28 | &nbsp;&nbsp; 420 | 414902 |
| 5.34%, 03/19/30, (1-day SOFR + 1.440%)<sup>(b)</sup> | &nbsp;&nbsp; 570 | 577386 |
| 5.55%, 03/19/35, (1-day SOFR + 1.770%)<sup>(b)</sup> | &nbsp;&nbsp; 1190 | 1201155 |
| 6.08%, 09/11/27, (1-day SOFR + 1.560%)<sup>(b)</sup> | &nbsp;&nbsp; 435 | 444592 |
| 6.11%, 09/11/34, (1-day SOFR + 2.090%)<sup>(b)</sup> | &nbsp;&nbsp; 595 | 626260 |
| JPMorgan Chase & Co. |  |  |
| 1.04%, 02/04/27, <br> (3-mo. CME Term SOFR + 0.695%)<sup>(b)</sup><br>| &nbsp;&nbsp; 610 | 581560 |
| 1.05%, 11/19/26, (1-day SOFR + 0.800%)<sup>(b)</sup> | &nbsp;&nbsp; 675 | 648380 |
| 1.47%, 09/22/27, (1-day SOFR + 0.765%)<sup>(b)</sup> | &nbsp;&nbsp; 1080 | 1016115 |
| 1.58%, 04/22/27, (1-day SOFR + 0.885%)<sup>(b)</sup> | &nbsp;&nbsp; 1165 | 1111720 |
| 1.76%, 11/19/31, <br> (3-mo. CME Term SOFR + 1.105%)<sup>(b)</sup><br>| &nbsp;&nbsp; 320 | 266542 |
| 1.95%, 02/04/32, (1-day SOFR + 1.065%)<sup>(b)</sup> | &nbsp;&nbsp; 719 | 601115 |
| 2.07%, 06/01/29, (1-day SOFR + 1.015%)<sup>(b)</sup> | &nbsp;&nbsp; 1345 | 1222511 |
| 2.18%, 06/01/28, (1-day SOFR + 1.890%)<sup>(b)</sup> | &nbsp;&nbsp; 566 | 530079 |
| 2.52%, 04/22/31, (1-day SOFR + 2.040%)<sup>(b)</sup> | &nbsp;&nbsp; 890 | 785884 |
| 2.53%, 11/19/41, <br> (3-mo. CME Term SOFR + 1.510%)<sup>(b)</sup><br>| &nbsp;&nbsp; 350 | 244252 |
| 2.55%, 11/08/32, (1-day SOFR + 1.180%)<sup>(b)</sup> | &nbsp;&nbsp; 785 | 669594 |
| 2.58%, 04/22/32, <br> (3-mo. CME Term SOFR + 1.250%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1090 | 944467 |
| 2.74%, 10/15/30, <br> (3-mo. CME Term SOFR + 1.510%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1180 | 1067121 |
| 2.95%, 10/01/26 | &nbsp;&nbsp; 962 | 934703 |
| 2.95%, 02/24/28, (1-day SOFR + 1.170%)<sup>(b)</sup> | &nbsp;&nbsp; 435 | 417495 |
| 2.96%, 05/13/31, <br> (3-mo. CME Term SOFR + 2.515%)<sup>(b)</sup><br>| &nbsp;&nbsp; 831 | 745461 |
| 2.96%, 01/25/33, (1-day SOFR + 1.260%)<sup>(b)</sup> | &nbsp;&nbsp; 755 | 659557 |
| 3.11%, 04/22/41, <br> (3-mo. CME Term SOFR + 2.460%)<sup>(b)</sup><br>| &nbsp;&nbsp; 525 | 402662 |
| 3.11%, 04/22/51, (1-day SOFR + 2.440%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 710 | 492853 |
| 3.16%, 04/22/42, (1-day SOFR + 1.460%)<sup>(b)</sup> | &nbsp;&nbsp; 580 | 441039 |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 560 | 548354 |
| 3.30%, 04/01/26 | &nbsp;&nbsp; 563 | 552996 |
| 3.33%, 04/22/52, (1-day SOFR + 1.580%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 930 | 672917 |
| 3.51%, 01/23/29, <br> (3-mo. CME Term SOFR + 1.207%)<sup>(b)</sup><br>| &nbsp;&nbsp; 605 | 581297 |
| 3.54%, 05/01/28, <br> (3-mo. CME Term SOFR + 1.642%)<sup>(b)</sup><br>| &nbsp;&nbsp; 808 | 783766 |
| 3.63%, 12/01/27 | &nbsp;&nbsp; 337 | 325611 |
| 3.70%, 05/06/30, <br> (3-mo. CME Term SOFR + 1.422%)<sup>(b)</sup><br>| &nbsp;&nbsp; 631 | 599985 |
| 3.78%, 02/01/28, <br> (3-mo. CME Term SOFR + 1.599%)<sup>(b)</sup><br>| &nbsp;&nbsp; 714 | 698452 |
| 3.88%, 07/24/38, <br> (3-mo. CME Term SOFR + 1.622%)<sup>(b)</sup><br>| &nbsp;&nbsp; 631 | 548673 |
| 3.90%, 01/23/49, <br> (3-mo. CME Term SOFR + 1.482%)<sup>(b)</sup><br>| &nbsp;&nbsp; 435 | 352039 |
| 3.96%, 01/29/27, <br> (3-mo. CME Term SOFR + 1.507%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 745 | 737312 |
| 3.96%, 11/15/48, <br> (3-mo. CME Term SOFR + 1.642%)<sup>(b)</sup><br>| &nbsp;&nbsp; 990 | 805505 |
| 4.01%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.382%)<sup>(b)</sup><br>| &nbsp;&nbsp; 710 | 690347 |
| 4.03%, 07/24/48, <br> (3-mo. CME Term SOFR + 1.722%)<sup>(b)</sup><br>| &nbsp;&nbsp; 478 | 393802 |
| 4.13%, 12/15/26 | &nbsp;&nbsp; 585 | 579152 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.20%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.522%)<sup>(b)</sup><br>| &nbsp;&nbsp; $550 | $537203 |
| 4.25%, 10/01/27 | &nbsp;&nbsp; 480 | 475929 |
| 4.26%, 02/22/48, <br> (3-mo. CME Term SOFR + 1.842%)<sup>(b)</sup><br>| &nbsp;&nbsp; 568 | 486067 |
| 4.32%, 04/26/28, (1-day SOFR + 1.560%)<sup>(b)</sup> | &nbsp;&nbsp; 1095 | 1083320 |
| 4.45%, 12/05/29, <br> (3-mo. CME Term SOFR + 1.592%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1070 | 1051837 |
| 4.49%, 03/24/31, <br> (3-mo. CME Term SOFR + 3.790%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1735 | 1699642 |
| 4.51%, 10/22/28, (1-day SOFR + 0.860%)<sup>(b)</sup> | &nbsp;&nbsp; 545 | 541352 |
| 4.57%, 06/14/30, (1-day SOFR + 1.750%)<sup>(b)</sup> | &nbsp;&nbsp; 825 | 812264 |
| 4.59%, 04/26/33, (1-day SOFR + 1.800%)<sup>(b)</sup> | &nbsp;&nbsp; 520 | 505025 |
| 4.60%, 10/22/30, (1-day SOFR + 1.040%)<sup>(b)</sup> | &nbsp;&nbsp; 1050 | 1035832 |
| 4.85%, 07/25/28, (1-day SOFR + 1.990%)<sup>(b)</sup> | &nbsp;&nbsp; 1165 | 1166839 |
| 4.85%, 02/01/44<sup>(a)</sup> | &nbsp;&nbsp; 258 | 244652 |
| 4.91%, 07/25/33, (1-day SOFR + 2.080%)<sup>(b)</sup> | &nbsp;&nbsp; 975 | 965958 |
| 4.95%, 10/22/35, (1-day SOFR + 1.340%)<sup>(b)</sup> | &nbsp;&nbsp; 455 | 446099 |
| 4.95%, 06/01/45 | &nbsp;&nbsp; 485 | 456606 |
| 4.98%, 07/22/28, (1-day SOFR + 0.930%)<sup>(b)</sup> | &nbsp;&nbsp; 535 | 537569 |
| 5.00%, 07/22/30, (1-day SOFR +1.125%)<sup>(b)</sup> | &nbsp;&nbsp; 870 | 872497 |
| 5.01%, 01/23/30, (1-day SOFR + 1.310%)<sup>(b)</sup> | &nbsp;&nbsp; 605 | 607547 |
| 5.04%, 01/23/28, (1-day SOFR + 1.190%)<sup>(b)</sup> | &nbsp;&nbsp; 955 | 959999 |
| 5.29%, 07/22/35, (1-day SOFR + 1.460%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1085 | 1091081 |
| 5.30%, 07/24/29, (1-day SOFR + 1.450%)<sup>(b)</sup> | &nbsp;&nbsp; 875 | 887589 |
| 5.34%, 01/23/35, (1-day SOFR + 1.620%)<sup>(b)</sup> | &nbsp;&nbsp; 1010 | 1018963 |
| 5.35%, 06/01/34, (1-day SOFR + 1.845%)<sup>(b)</sup> | &nbsp;&nbsp; 1155 | 1168248 |
| 5.40%, 01/06/42 | &nbsp;&nbsp; 524 | 532235 |
| 5.50%, 10/15/40 | &nbsp;&nbsp; 300 | 306037 |
| 5.57%, 04/22/28, (1-day SOFR + 0.930%)<sup>(b)</sup> | &nbsp;&nbsp; 815 | 829474 |
| 5.58%, 04/22/30, (1-day SOFR +1.160%)<sup>(b)</sup> | &nbsp;&nbsp; 750 | 768976 |
| 5.60%, 07/15/41 | &nbsp;&nbsp; 473 | 489890 |
| 5.63%, 08/16/43<sup>(a)</sup> | &nbsp;&nbsp; 445 | 458547 |
| 5.72%, 09/14/33, (1-day SOFR + 2.580%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1575 | 1622533 |
| 5.77%, 04/22/35, (1-day SOFR + 1.490%)<sup>(b)</sup> | &nbsp;&nbsp; 860 | 895155 |
| 6.07%, 10/22/27, (1-day SOFR + 1.330%)<sup>(b)</sup> | &nbsp;&nbsp; 540 | 553205 |
| 6.09%, 10/23/29, (1-day SOFR + 1.570%)<sup>(b)</sup> | &nbsp;&nbsp; 815 | 849909 |
| 6.25%, 10/23/34, (1-day SOFR + 1.810%)<sup>(b)</sup> | &nbsp;&nbsp; 750 | 804835 |
| 6.40%, 05/15/38 | &nbsp;&nbsp; 637 | 714386 |
| 7.63%, 10/15/26 | &nbsp;&nbsp; 215 | 227003 |
| 8.00%, 04/29/27 | &nbsp;&nbsp; 259 | 279418 |
| JPMorgan Chase Bank NA, 5.11%, 12/08/26 | &nbsp;&nbsp; 615 | 622167 |
| Lloyds Banking Group PLC |  |  |
| 1.63%, 05/11/27, (1-year CMT + 0.850%)<sup>(b)</sup> | &nbsp;&nbsp; 370 | 351968 |
| 3.57%, 11/07/28, <br> (3-mo. LIBOR US + 1.205%)<sup>(b)</sup><br>| &nbsp;&nbsp; 640 | 615494 |
| 3.75%, 01/11/27 | &nbsp;&nbsp; 490 | 479766 |
| 3.75%, 03/18/28, (1-year CMT + 1.800%)<sup>(b)</sup> | &nbsp;&nbsp; 580 | 564633 |
| 4.38%, 03/22/28 | &nbsp;&nbsp; 1300 | 1276247 |
| 4.55%, 08/16/28 | &nbsp;&nbsp; 545 | 538177 |
| 4.98%, 08/11/33, (1-year CMT + 2.300%)<sup>(b)</sup> | &nbsp;&nbsp; 710 | 692299 |
| 5.46%, 01/05/28, (1-year CMT + 1.375%)<sup>(b)</sup> | &nbsp;&nbsp; 1010 | 1021736 |
| 5.68%, 01/05/35, (1-year CMT + 1.750%)<sup>(b)</sup> | &nbsp;&nbsp; 1115 | 1128173 |
| 5.72%, 06/05/30, (1-year CMT + 1.070%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 650 | 665687 |
| 5.87%, 03/06/29, (1-year CMT + 1.700%)<sup>(b)</sup> | &nbsp;&nbsp; 940 | 963995 |
| 5.99%, 08/07/27, (1-year CMT + 1.480%)<sup>(b)</sup> | &nbsp;&nbsp; 665 | 677382 |
| Manufacturers & Traders Trust Co. |  |  |
| 4.65%, 01/27/26 | &nbsp;&nbsp; 340 | 338606 |
| 4.70%, 01/27/28 | &nbsp;&nbsp; 925 | 914388 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 1.54%, 07/20/27, (1-year CMT + 0.750%)<sup>(b)</sup> | &nbsp;&nbsp; 1675 | 1585984 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 1.64%, 10/13/27, (1-year CMT + 0.670%)<sup>(b)</sup> | &nbsp;&nbsp; $765 | $721195 |
| 2.05%, 07/17/30 | &nbsp;&nbsp; 665 | 571588 |
| 2.31%, 07/20/32, (1-year CMT + 0.950%)<sup>(b)</sup> | &nbsp;&nbsp; 685 | 580071 |
| 2.34%, 01/19/28, (1-year CMT + 0.830%)<sup>(b)</sup> | &nbsp;&nbsp; 1260 | 1196176 |
| 2.49%, 10/13/32, (1-year CMT + 0.970%)<sup>(b)</sup> | &nbsp;&nbsp; 265 | 226092 |
| 2.56%, 02/25/30 | &nbsp;&nbsp; 414 | 369291 |
| 2.76%, 09/13/26 | &nbsp;&nbsp; 320 | 309529 |
| 2.85%, 01/19/33, (1-year CMT + 1.100%)<sup>(b)</sup> | &nbsp;&nbsp; 440 | 381562 |
| 3.20%, 07/18/29 | &nbsp;&nbsp; 1519 | 1416561 |
| 3.29%, 07/25/27<sup>(a)</sup> | &nbsp;&nbsp; 347 | 336433 |
| 3.68%, 02/22/27 | &nbsp;&nbsp; 407 | 399444 |
| 3.74%, 03/07/29 | &nbsp;&nbsp; 510 | 491966 |
| 3.75%, 07/18/39 | &nbsp;&nbsp; 930 | 798185 |
| 3.85%, 03/01/26 | &nbsp;&nbsp; 1225 | 1212501 |
| 3.96%, 03/02/28 | &nbsp;&nbsp; 482 | 472108 |
| 4.05%, 09/11/28 | &nbsp;&nbsp; 346 | 339571 |
| 4.08%, 04/19/28, (1-year CMT + 1.300%)<sup>(b)</sup> | &nbsp;&nbsp; 630 | 619849 |
| 4.15%, 03/07/39<sup>(a)</sup> | &nbsp;&nbsp; 62 | 56330 |
| 4.29%, 07/26/38<sup>(a)</sup> | &nbsp;&nbsp; 100 | 92251 |
| 4.32%, 04/19/33, (1-year CMT + 1.550%)<sup>(b)</sup> | &nbsp;&nbsp; 255 | 243275 |
| 5.02%, 07/20/28, (1-year CMT + 1.950%)<sup>(b)</sup> | &nbsp;&nbsp; 455 | 457968 |
| 5.13%, 07/20/33, (1-year CMT + 2.125%)<sup>(b)</sup> | &nbsp;&nbsp; 1230 | 1233377 |
| 5.24%, 04/19/29, (1-year CMT + 1.700%)<sup>(b)</sup> | &nbsp;&nbsp; 290 | 294226 |
| 5.26%, 04/17/30, (1-year CMT + 0.820%)<sup>(b)</sup> | &nbsp;&nbsp; 440 | 446237 |
| 5.35%, 09/13/28, (1-year CMT + 1.900%)<sup>(b)</sup> | &nbsp;&nbsp; 975 | 991916 |
| 5.41%, 04/19/34, (1-year CMT + 1.970%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 595 | 610530 |
| 5.42%, 02/22/29, (1-year CMT + 1.380%)<sup>(b)</sup> | &nbsp;&nbsp; 490 | 499548 |
| 5.43%, 04/17/35, (1-year CMT + 1.000%)<sup>(b)</sup> | &nbsp;&nbsp; 745 | 756328 |
| 5.44%, 02/22/34, (1-year CMT + 1.630%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 715 | 734559 |
| 5.47%, 09/13/33, (1-year CMT + 2.125%)<sup>(b)</sup> | &nbsp;&nbsp; 290 | 298102 |
| 5.48%, 02/22/31, (1-year CMT + 1.530%)<sup>(b)</sup> | &nbsp;&nbsp; 320 | 327951 |
| Mizuho Financial Group Inc. |  |  |
| 1.23%, 05/22/27, (1-year CMT + 0.670%)<sup>(b)</sup> | &nbsp;&nbsp; 510 | 482935 |
| 1.55%, 07/09/27, (1-year CMT + 0.750%)<sup>(b)</sup> | &nbsp;&nbsp; 375 | 355250 |
| 1.98%, 09/08/31, <br> (3-mo. CME Term SOFR + 1.532%)<sup>(b)</sup><br>| &nbsp;&nbsp; 320 | 270005 |
| 2.17%, 05/22/32, (1-year CMT + 0.870%)<sup>(b)</sup> | &nbsp;&nbsp; 245 | 205156 |
| 2.20%, 07/10/31, <br> (3-mo. CME Term SOFR + 1.772%)<sup>(b)</sup><br>| &nbsp;&nbsp; 640 | 549896 |
| 2.26%, 07/09/32, (1-year CMT + 0.900%)<sup>(b)</sup> | &nbsp;&nbsp; 220 | 184203 |
| 2.59%, 05/25/31, <br> (3-mo. CME Term SOFR + 1.332%)<sup>(b)</sup><br>| &nbsp;&nbsp; 205 | 180531 |
| 2.84%, 09/13/26 | &nbsp;&nbsp; 360 | 348700 |
| 2.87%, 09/13/30, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(b)</sup><br>| &nbsp;&nbsp; 235 | 213222 |
| 3.15%, 07/16/30, <br> (3-mo. CME Term SOFR + 1.392%)<sup>(b)</sup><br>| &nbsp;&nbsp; 330 | 304906 |
| 3.17%, 09/11/27<sup>(a)</sup> | &nbsp;&nbsp; 456 | 437388 |
| 3.26%, 05/22/30, (1-year CMT + 1.250%)<sup>(b)</sup> | &nbsp;&nbsp; 245 | 228075 |
| 3.66%, 02/28/27 | &nbsp;&nbsp; 215 | 209849 |
| 4.02%, 03/05/28 | &nbsp;&nbsp; 570 | 557315 |
| 4.25%, 09/11/29, <br> (3-mo. CME Term SOFR + 1.532%)<sup>(b)</sup><br>| &nbsp;&nbsp; 470 | 458715 |
| 5.38%, 05/26/30, (1-year CMT + 1.120%)<sup>(b)</sup> | &nbsp;&nbsp; 240 | 243626 |
| 5.38%, 07/10/30, (1-year CMT + 1.080%)<sup>(b)</sup> | &nbsp;&nbsp; 300 | 304672 |
| 5.41%, 09/13/28, (1-year CMT + 2.050%)<sup>(b)</sup> | &nbsp;&nbsp; 330 | 335278 |
| 5.58%, 05/26/35, (1-year CMT + 1.300%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 635 | 650754 |
| 5.59%, 07/10/35, (1-year CMT + 1.300%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1165 | 1192958 |
| 5.67%, 05/27/29, (1-year CMT + 1.500%)<sup>(b)</sup> | &nbsp;&nbsp; 350 | 358988 |
| 5.67%, 09/13/33, (1-year CMT + 2.400%)<sup>(b)</sup> | &nbsp;&nbsp; 285 | 293415 |
| 5.74%, 05/27/31, (1-year CMT + 1.650%)<sup>(b)</sup> | &nbsp;&nbsp; 225 | 232256 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.75%, 05/27/34, (1-year CMT + 1.800%)<sup>(b)</sup> | &nbsp;&nbsp; $350 | $362860 |
| 5.75%, 07/06/34, (1-year CMT + 1.900%)<sup>(b)</sup> | &nbsp;&nbsp; 740 | 765872 |
| 5.78%, 07/06/29, (1-year CMT + 1.650%)<sup>(b)</sup> | &nbsp;&nbsp; 815 | 837912 |
| Morgan Stanley |  |  |
| 0.99%, 12/10/26, (1-day SOFR + 0.720%)<sup>(b)</sup> | &nbsp;&nbsp; 772 | 739603 |
| 1.51%, 07/20/27, (1-day SOFR + 0.858%)<sup>(b)</sup> | &nbsp;&nbsp; 1177 | 1113736 |
| 1.59%, 05/04/27, (1-day SOFR + 0.879%)<sup>(b)</sup> | &nbsp;&nbsp; 1967 | 1875485 |
| 1.79%, 02/13/32, (1-day SOFR + 1.034%)<sup>(b)</sup> | &nbsp;&nbsp; 865 | 713368 |
| 1.93%, 04/28/32, (1-day SOFR + 1.020%)<sup>(b)</sup> | &nbsp;&nbsp; 1423 | 1176507 |
| 2.24%, 07/21/32, (1-day SOFR + 1.178%)<sup>(b)</sup> | &nbsp;&nbsp; 1244 | 1041679 |
| 2.48%, 01/21/28, (1-day SOFR + 1.000%)<sup>(b)</sup> | &nbsp;&nbsp; 700 | 665876 |
| 2.51%, 10/20/32, (1-day SOFR + 1.200%)<sup>(b)</sup> | &nbsp;&nbsp; 845 | 716571 |
| 2.70%, 01/22/31, (1-day SOFR + 1.143%)<sup>(b)</sup> | &nbsp;&nbsp; 1221 | 1091508 |
| 2.80%, 01/25/52, (1-day SOFR + 1.430%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 690 | 448988 |
| 2.94%, 01/21/33, (1-day SOFR + 1.290%)<sup>(b)</sup> | &nbsp;&nbsp; 935 | 811956 |
| 3.13%, 07/27/26 | &nbsp;&nbsp; 1158 | 1129222 |
| 3.22%, 04/22/42, (1-day SOFR + 1.485%)<sup>(b)</sup> | &nbsp;&nbsp; 917 | 705802 |
| 3.59%, 07/22/28<sup>(b)</sup> | &nbsp;&nbsp; 1080 | 1046831 |
| 3.62%, 04/01/31, (1-day SOFR + 3.120%)<sup>(b)</sup> | &nbsp;&nbsp; 905 | 846447 |
| 3.63%, 01/20/27 | &nbsp;&nbsp; 1288 | 1264005 |
| 3.77%, 01/24/29, <br> (3-mo. CME Term SOFR + 1.402%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1282 | 1240591 |
| 3.88%, 01/27/26 | &nbsp;&nbsp; 1516 | 1502285 |
| 3.97%, 07/22/38<sup>(b)</sup> | &nbsp;&nbsp; 709 | 616742 |
| 4.21%, 04/20/28, (1-day SOFR + 1.610%)<sup>(b)</sup> | &nbsp;&nbsp; 745 | 735536 |
| 4.30%, 01/27/45<sup>(a)</sup> | &nbsp;&nbsp; 1095 | 955673 |
| 4.38%, 01/22/47 | &nbsp;&nbsp; 1185 | 1036004 |
| 4.43%, 01/23/30, <br> (3-mo. CME Term SOFR + 1.89%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1072 | 1050809 |
| 4.46%, 04/22/39, <br> (3-mo. CME Term SOFR + 1.693%)<sup>(b)</sup><br>| &nbsp;&nbsp; 555 | 510568 |
| 4.65%, 10/18/30, (1-day SOFR +1.100%)<sup>(b)</sup> | &nbsp;&nbsp; 1385 | 1366655 |
| 4.89%, 07/20/33, (1-day SOFR + 2.076%)<sup>(b)</sup> | &nbsp;&nbsp; 770 | 756422 |
| 5.04%, 07/19/30, (1-day SOFR +1.215%)<sup>(b)</sup> | &nbsp;&nbsp; 1435 | 1440007 |
| 5.05%, 01/28/27, (1-day SOFR + 1.295%)<sup>(b)</sup> | &nbsp;&nbsp; 700 | 702027 |
| 5.12%, 02/01/29, (1-day SOFR + 1.730%)<sup>(b)</sup> | &nbsp;&nbsp; 845 | 851975 |
| 5.16%, 04/20/29, (1-day SOFR + 1.590%)<sup>(b)</sup> | &nbsp;&nbsp; 990 | 998595 |
| 5.17%, 01/16/30, (1-day SOFR + 1.450%)<sup>(b)</sup> | &nbsp;&nbsp; 770 | 776725 |
| 5.25%, 04/21/34, (1-day SOFR + 1.870%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1080 | 1081116 |
| 5.32%, 07/19/35, (1-day SOFR +1.555%)<sup>(b)</sup> | &nbsp;&nbsp; 1205 | 1210753 |
| 5.42%, 07/21/34, (1-day SOFR + 1.880%)<sup>(b)</sup> | &nbsp;&nbsp; 935 | 944612 |
| 5.45%, 07/20/29, (1-day SOFR + 1.630%)<sup>(b)</sup> | &nbsp;&nbsp; 895 | 912589 |
| 5.47%, 01/18/35, (1-day SOFR + 1.730%)<sup>(b)</sup> | &nbsp;&nbsp; 800 | 810640 |
| 5.60%, 03/24/51, (1-day SOFR + 4.840%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 696 | 725401 |
| 5.65%, 04/13/28, (1-day SOFR +1.010%)<sup>(b)</sup> | &nbsp;&nbsp; 600 | 611816 |
| 5.66%, 04/18/30, (1-day SOFR +1.260%)<sup>(b)</sup> | &nbsp;&nbsp; 1085 | 1114191 |
| 5.83%, 04/19/35, (1-day SOFR +1.580%)<sup>(b)</sup> | &nbsp;&nbsp; 875 | 909835 |
| 6.25%, 08/09/26<sup>(a)</sup> | &nbsp;&nbsp; 300 | 308181 |
| 6.30%, 10/18/28, (1-day SOFR + 2.240%)<sup>(b)</sup> | &nbsp;&nbsp; 785 | 816998 |
| 6.34%, 10/18/33, (1-day SOFR + 2.560%)<sup>(b)</sup> | &nbsp;&nbsp; 915 | 983867 |
| 6.38%, 07/24/42 | &nbsp;&nbsp; 1157 | 1299042 |
| 6.41%, 11/01/29, (1-day SOFR + 1.830%)<sup>(b)</sup> | &nbsp;&nbsp; 720 | 758260 |
| 6.63%, 11/01/34, (1-day SOFR + 2.050%)<sup>(b)</sup> | &nbsp;&nbsp; 610 | 667519 |
| 7.25%, 04/01/32 | &nbsp;&nbsp; 611 | 700406 |
| Morgan Stanley Bank NA |  |  |
| 4.45%, 10/15/27, (1-day SOFR + 0.680%)<sup>(b)</sup> | &nbsp;&nbsp; 1300 | 1293321 |
| 4.75%, 04/21/26 | &nbsp;&nbsp; 650 | 652207 |
| 4.95%, 01/14/28, (1-day SOFR + 1.080%)<sup>(b)</sup> | &nbsp;&nbsp; 490 | 492074 |
| 4.97%, 07/14/28, (1-day SOFR +0.930%)<sup>(b)</sup> | &nbsp;&nbsp; 1200 | 1205890 |
| 5.50%, 05/26/28, (1-day SOFR +0.865%)<sup>(b)</sup> | &nbsp;&nbsp; 965 | 981552 |
| 5.88%, 10/30/26 | &nbsp;&nbsp; 795 | 814843 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| National Australia Bank Ltd./New York |  |  |
| 2.50%, 07/12/26 | &nbsp;&nbsp; $435 | $421204 |
| 3.38%, 01/14/26 | &nbsp;&nbsp; 585 | 576933 |
| 3.91%, 06/09/27 | &nbsp;&nbsp; 455 | 448528 |
| 4.75%, 12/10/25 | &nbsp;&nbsp; 320 | 320509 |
| 4.79%, 01/10/29 | &nbsp;&nbsp; 370 | 372925 |
| 4.90%, 06/13/28 | &nbsp;&nbsp; 370 | 373911 |
| 4.94%, 01/12/28 | &nbsp;&nbsp; 510 | 515524 |
| 4.97%, 01/12/26 | &nbsp;&nbsp; 335 | 336508 |
| 5.09%, 06/11/27 | &nbsp;&nbsp; 885 | 898683 |
| National Bank of Canada |  |  |
| 4.50%, 10/10/29<sup>(a)</sup> | &nbsp;&nbsp; 665 | 651648 |
| 5.60%, 07/02/27, (1-day SOFR +1.036%)<sup>(b)</sup> | &nbsp;&nbsp; 910 | 920720 |
| 5.60%, 12/18/28 | &nbsp;&nbsp; 255 | 261599 |
| NatWest Group PLC |  |  |
| 1.64%, 06/14/27, (1-year CMT + 0.900%)<sup>(b)</sup> | &nbsp;&nbsp; 905 | 859517 |
| 3.07%, 05/22/28, (1-year CMT + 2.550%)<sup>(b)</sup> | &nbsp;&nbsp; 505 | 483293 |
| 4.45%, 05/08/30, <br> (3-mo. LIBOR US + 1.871%)<sup>(b)</sup><br>| &nbsp;&nbsp; 590 | 573168 |
| 4.80%, 04/05/26<sup>(a)</sup> | &nbsp;&nbsp; 960 | 960028 |
| 4.89%, 05/18/29, <br> (3-mo. LIBOR US + 1.754%)<sup>(b)</sup><br>| &nbsp;&nbsp; 755 | 749845 |
| 4.96%, 08/15/30, (1-year CMT + 1.220%)<sup>(b)</sup> | &nbsp;&nbsp; 615 | 609630 |
| 5.08%, 01/27/30, <br> (3-mo. LIBOR US + 1.905%)<sup>(b)</sup><br>| &nbsp;&nbsp; 865 | 861208 |
| 5.52%, 09/30/28, (1-year CMT + 2.270%)<sup>(b)</sup> | &nbsp;&nbsp; 455 | 461771 |
| 5.58%, 03/01/28, (1-year CMT + 1.100%)<sup>(b)</sup> | &nbsp;&nbsp; 495 | 502163 |
| 5.78%, 03/01/35, (1-year CMT + 1.500%)<sup>(b)</sup> | &nbsp;&nbsp; 780 | 796759 |
| 5.81%, 09/13/29, (1-year CMT + 1.950%)<sup>(b)</sup> | &nbsp;&nbsp; 695 | 712011 |
| 5.85%, 03/02/27, (1-year CMT + 1.350%)<sup>(b)</sup> | &nbsp;&nbsp; 405 | 409646 |
| 6.02%, 03/02/34, (1-year CMT + 2.100%)<sup>(b)</sup> | &nbsp;&nbsp; 930 | 971499 |
| 7.47%, 11/10/26, (1-year CMT + 2.850%)<sup>(b)</sup> | &nbsp;&nbsp; 530 | 542588 |
| Northern Trust Corp. |  |  |
| 1.95%, 05/01/30 | &nbsp;&nbsp; 735 | 637880 |
| 3.15%, 05/03/29 | &nbsp;&nbsp; 195 | 183826 |
| 3.65%, 08/03/28<sup>(a)</sup> | &nbsp;&nbsp; 120 | 116346 |
| 4.00%, 05/10/27 | &nbsp;&nbsp; 935 | 926130 |
| 6.13%, 11/02/32<sup>(a)</sup> | &nbsp;&nbsp; 400 | 428969 |
| PNC Bank NA |  |  |
| 2.70%, 10/22/29 | &nbsp;&nbsp; 310 | 277386 |
| 3.10%, 10/25/27 | &nbsp;&nbsp; 350 | 335844 |
| 3.25%, 01/22/28 | &nbsp;&nbsp; 360 | 344014 |
| 4.05%, 07/26/28 | &nbsp;&nbsp; 540 | 525694 |
| 4.20%, 11/01/25 | &nbsp;&nbsp; 250 | 248780 |
| PNC Financial Services Group Inc. (The) |  |  |
| 1.15%, 08/13/26 | &nbsp;&nbsp; 325 | 305704 |
| 2.31%, 04/23/32, (1-day SOFR + 0.979%)<sup>(b)</sup> | &nbsp;&nbsp; 778 | 662272 |
| 2.55%, 01/22/30 | &nbsp;&nbsp; 2455 | 2195343 |
| 2.60%, 07/23/26 | &nbsp;&nbsp; 995 | 961986 |
| 3.15%, 05/19/27 | &nbsp;&nbsp; 450 | 433905 |
| 3.45%, 04/23/29 | &nbsp;&nbsp; 1746 | 1657345 |
| 4.63%, 06/06/33, <br> (1-day SOFR Index + 1.850%)<sup>(b)</sup><br>| &nbsp;&nbsp; 665 | 635757 |
| 4.76%, 01/26/27, <br> (1-day SOFR Index + 1.085%)<sup>(b)</sup><br>| &nbsp;&nbsp; 975 | 974147 |
| 4.81%, 10/21/32, (1-day SOFR +1.259%)<sup>(b)</sup> | &nbsp;&nbsp; 570 | 559238 |
| 5.07%, 01/24/34, (1-day SOFR + 1.933%)<sup>(b)</sup> | &nbsp;&nbsp; 1105 | 1090390 |
| 5.10%, 07/23/27, (1-day SOFR +0.796%)<sup>(b)</sup> | &nbsp;&nbsp; 425 | 427721 |
| 5.30%, 01/21/28, (1-day SOFR + 1.342%)<sup>(b)</sup> | &nbsp;&nbsp; 400 | 405148 |
| 5.35%, 12/02/28, (1-day SOFR + 1.620%)<sup>(b)</sup> | &nbsp;&nbsp; 415 | 421621 |
| 5.40%, 07/23/35, (1-day SOFR +1.599%)<sup>(b)</sup> | &nbsp;&nbsp; 555 | 559334 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.49%, 05/14/30, (1-day SOFR + 1.198%)<sup>(b)</sup> | &nbsp;&nbsp; $555 | $566363 |
| 5.58%, 06/12/29, (1-day SOFR + 1.841%)<sup>(b)</sup> | &nbsp;&nbsp; 1324 | 1352776 |
| 5.68%, 01/22/35, (1-day SOFR + 1.902%)<sup>(b)</sup> | &nbsp;&nbsp; 720 | 739256 |
| 5.94%, 08/18/34, (1-day SOFR + 1.946%)<sup>(b)</sup> | &nbsp;&nbsp; 385 | 402515 |
| 6.04%, 10/28/33, <br> (1-day SOFR Index + 2.140%)<sup>(b)</sup><br>| &nbsp;&nbsp; 590 | 619947 |
| 6.62%, 10/20/27, <br> (1-day SOFR Index + 1.730%)<sup>(b)</sup><br>| &nbsp;&nbsp; 545 | 564362 |
| 6.88%, 10/20/34, (1-day SOFR + 2.284%)<sup>(b)</sup> | &nbsp;&nbsp; 825 | 916774 |
| Royal Bank of Canada |  |  |
| 0.88%, 01/20/26 | &nbsp;&nbsp; 505 | 483140 |
| 1.15%, 07/14/26 | &nbsp;&nbsp; 505 | 477548 |
| 1.20%, 04/27/26 | &nbsp;&nbsp; 910 | 866410 |
| 1.40%, 11/02/26 | &nbsp;&nbsp; 465 | 437491 |
| 2.05%, 01/21/27 | &nbsp;&nbsp; 310 | 294114 |
| 2.30%, 11/03/31 | &nbsp;&nbsp; 555 | 472599 |
| 3.63%, 05/04/27 | &nbsp;&nbsp; 545 | 532997 |
| 3.88%, 05/04/32 | &nbsp;&nbsp; 480 | 449616 |
| 4.24%, 08/03/27 | &nbsp;&nbsp; 640 | 635267 |
| 4.51%, 10/18/27, <br> (1-day SOFR Index + 0.720%)<sup>(b)</sup><br>| &nbsp;&nbsp; 440 | 438676 |
| 4.52%, 10/18/28, <br> (1-day SOFR Index + 0.860%)<sup>(b)</sup><br>| &nbsp;&nbsp; 240 | 238699 |
| 4.65%, 01/27/26 | &nbsp;&nbsp; 658 | 655049 |
| 4.65%, 10/18/30, <br> (1-day SOFR Index + 1.080%)<sup>(b)</sup><br>| &nbsp;&nbsp; 895 | 886089 |
| 4.88%, 01/12/26<sup>(a)</sup> | &nbsp;&nbsp; 615 | 617400 |
| 4.88%, 01/19/27 | &nbsp;&nbsp; 830 | 836836 |
| 4.90%, 01/12/28 | &nbsp;&nbsp; 390 | 392278 |
| 4.95%, 02/01/29 | &nbsp;&nbsp; 770 | 777795 |
| 4.97%, 08/02/30, (1-day SOFR +1.000%)<sup>(b)</sup> | &nbsp;&nbsp; 1260 | 1263236 |
| 5.00%, 02/01/33 | &nbsp;&nbsp; 1130 | 1130970 |
| 5.00%, 05/02/33 | &nbsp;&nbsp; 415 | 414811 |
| 5.07%, 07/23/27, (1-day SOFR +0.790%)<sup>(b)</sup> | &nbsp;&nbsp; 890 | 895515 |
| 5.15%, 02/01/34 | &nbsp;&nbsp; 500 | 502972 |
| 5.20%, 07/20/26 | &nbsp;&nbsp; 680 | 687981 |
| 5.20%, 08/01/28 | &nbsp;&nbsp; 770 | 782711 |
| 6.00%, 11/01/27 | &nbsp;&nbsp; 905 | 940254 |
| State Street Corp. |  |  |
| 1.68%, 11/18/27, (1-day SOFR + 0.560%)<sup>(b)</sup> | &nbsp;&nbsp; 375 | 352945 |
| 2.20%, 02/07/28, (1-day SOFR + 0.730%)<sup>(b)</sup> | &nbsp;&nbsp; 330 | 313089 |
| 2.20%, 03/03/31 | &nbsp;&nbsp; 467 | 400932 |
| 2.40%, 01/24/30 | &nbsp;&nbsp; 1380 | 1230479 |
| 2.62%, 02/07/33, (1-day SOFR + 1.002%)<sup>(b)</sup> | &nbsp;&nbsp; 235 | 201445 |
| 2.65%, 05/19/26<sup>(a)</sup> | &nbsp;&nbsp; 660 | 642289 |
| 3.03%, 11/01/34, (1-day SOFR + 1.490%)<sup>(b)</sup> | &nbsp;&nbsp; 485 | 434004 |
| 4.14%, 12/03/29, <br> (3-mo. CME Term SOFR + 1.292%)<sup>(b)</sup><br>| &nbsp;&nbsp; 165 | 161005 |
| 4.16%, 08/04/33, (1-day SOFR + 1.726%)<sup>(b)</sup> | &nbsp;&nbsp; 275 | 260077 |
| 4.33%, 10/22/27 | &nbsp;&nbsp; 500 | 497230 |
| 4.42%, 05/13/33, (1-day SOFR + 1.605%)<sup>(b)</sup> | &nbsp;&nbsp; 240 | 231547 |
| 4.53%, 02/20/29, (1-day SOFR +1.018%)<sup>(b)</sup> | &nbsp;&nbsp; 410 | 406901 |
| 4.68%, 10/22/32, (1-day SOFR +1.050%)<sup>(b)</sup> | &nbsp;&nbsp; 350 | 344707 |
| 4.82%, 01/26/34, (1-day SOFR + 1.567%)<sup>(b)</sup> | &nbsp;&nbsp; 325 | 319698 |
| 4.99%, 03/18/27 | &nbsp;&nbsp; 875 | 883161 |
| 5.16%, 05/18/34, (1-day SOFR + 1.890%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 430 | 433561 |
| 5.27%, 08/03/26 | &nbsp;&nbsp; 710 | 718809 |
| 5.68%, 11/21/29, (1-day SOFR + 1.484%)<sup>(b)</sup> | &nbsp;&nbsp; 415 | 427968 |
| 5.75%, 11/04/26, (1-day SOFR + 1.353%)<sup>(b)</sup> | &nbsp;&nbsp; 260 | 262431 |
| 5.82%, 11/04/28, (1-day SOFR + 1.715%)<sup>(b)</sup> | &nbsp;&nbsp; 125 | 128935 |
| 6.12%, 11/21/34, (1-day SOFR + 1.958%)<sup>(b)</sup> | &nbsp;&nbsp; 305 | 321266 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 0.95%, 01/12/26 | &nbsp;&nbsp; $450 | $430186 |
| 1.40%, 09/17/26 | &nbsp;&nbsp; 1295 | 1220578 |
| 1.71%, 01/12/31 | &nbsp;&nbsp; 245 | 202647 |
| 1.90%, 09/17/28 | &nbsp;&nbsp; 745 | 669124 |
| 2.13%, 07/08/30 | &nbsp;&nbsp; 555 | 478258 |
| 2.17%, 01/14/27 | &nbsp;&nbsp; 295 | 279483 |
| 2.22%, 09/17/31 | &nbsp;&nbsp; 485 | 406484 |
| 2.30%, 01/12/41 | &nbsp;&nbsp; 500 | 343075 |
| 2.47%, 01/14/29 | &nbsp;&nbsp; 235 | 214254 |
| 2.63%, 07/14/26 | &nbsp;&nbsp; 1264 | 1221977 |
| 2.72%, 09/27/29 | &nbsp;&nbsp; 215 | 194764 |
| 2.75%, 01/15/30 | &nbsp;&nbsp; 625 | 562317 |
| 3.01%, 10/19/26 | &nbsp;&nbsp; 900 | 872757 |
| 3.04%, 07/16/29<sup>(a)</sup> | &nbsp;&nbsp; 1814 | 1674116 |
| 3.05%, 01/14/42 | &nbsp;&nbsp; 190 | 143581 |
| 3.35%, 10/18/27<sup>(a)</sup> | &nbsp;&nbsp; 355 | 342024 |
| 3.36%, 07/12/27 | &nbsp;&nbsp; 1069 | 1036278 |
| 3.45%, 01/11/27 | &nbsp;&nbsp; 542 | 528596 |
| 3.54%, 01/17/28 | &nbsp;&nbsp; 390 | 375813 |
| 3.78%, 03/09/26 | &nbsp;&nbsp; 994 | 982431 |
| 3.94%, 07/19/28<sup>(a)</sup> | &nbsp;&nbsp; 291 | 282911 |
| 4.31%, 10/16/28 | &nbsp;&nbsp; 235 | 231860 |
| 5.32%, 07/09/29 | &nbsp;&nbsp; 265 | 270406 |
| 5.42%, 07/09/31 | &nbsp;&nbsp; 450 | 459349 |
| 5.46%, 01/13/26 | &nbsp;&nbsp; 780 | 786891 |
| 5.52%, 01/13/28 | &nbsp;&nbsp; 775 | 791495 |
| 5.56%, 07/09/34 | &nbsp;&nbsp; 590 | 606616 |
| 5.71%, 01/13/30 | &nbsp;&nbsp; 630 | 651421 |
| 5.72%, 09/14/28 | &nbsp;&nbsp; 455 | 469089 |
| 5.77%, 01/13/33<sup>(a)</sup> | &nbsp;&nbsp; 830 | 865857 |
| 5.78%, 07/13/33 | &nbsp;&nbsp; 295 | 308308 |
| 5.80%, 07/13/28 | &nbsp;&nbsp; 640 | 660899 |
| 5.81%, 09/14/33<sup>(a)</sup> | &nbsp;&nbsp; 430 | 451725 |
| 5.85%, 07/13/30 | &nbsp;&nbsp; 275 | 286762 |
| 5.88%, 07/13/26 | &nbsp;&nbsp; 345 | 351627 |
| Toronto-Dominion Bank (The) |  |  |
| 0.75%, 01/06/26 | &nbsp;&nbsp; 462 | 440878 |
| 1.20%, 06/03/26 | &nbsp;&nbsp; 763 | 722323 |
| 1.25%, 09/10/26 | &nbsp;&nbsp; 935 | 879426 |
| 1.95%, 01/12/27 | &nbsp;&nbsp; 415 | 391818 |
| 2.00%, 09/10/31<sup>(a)</sup> | &nbsp;&nbsp; 1285 | 1073587 |
| 2.45%, 01/12/32 | &nbsp;&nbsp; 515 | 436214 |
| 2.80%, 03/10/27 | &nbsp;&nbsp; 510 | 489185 |
| 3.20%, 03/10/32 | &nbsp;&nbsp; 665 | 588753 |
| 4.11%, 06/08/27 | &nbsp;&nbsp; 905 | 892530 |
| 4.46%, 06/08/32 | &nbsp;&nbsp; 1490 | 1429022 |
| 4.69%, 09/15/27 | &nbsp;&nbsp; 745 | 743787 |
| 4.98%, 04/05/27<sup>(a)</sup> | &nbsp;&nbsp; 375 | 377652 |
| 4.99%, 04/05/29 | &nbsp;&nbsp; 455 | 457713 |
| 5.10%, 01/09/26 | &nbsp;&nbsp; 245 | 245961 |
| 5.15%, 09/10/34, (5-year CMT + 1.500%)<sup>(b)</sup> | &nbsp;&nbsp; 470 | 461907 |
| 5.16%, 01/10/28 | &nbsp;&nbsp; 655 | 661779 |
| 5.26%, 12/11/26 | &nbsp;&nbsp; 200 | 202568 |
| 5.52%, 07/17/28 | &nbsp;&nbsp; 410 | 419439 |
| 5.53%, 07/17/26 | &nbsp;&nbsp; 590 | 597907 |
| Truist Bank |  |  |
| 2.25%, 03/11/30 | &nbsp;&nbsp; 612 | 527560 |
| 3.30%, 05/15/26 | &nbsp;&nbsp; 540 | 527209 |
| 3.80%, 10/30/26 | &nbsp;&nbsp; 832 | 815252 |
| 4.05%, 11/03/25 | &nbsp;&nbsp; 224 | 222673 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Truist Financial Corp. |  |  |
| 1.13%, 08/03/27 | &nbsp;&nbsp; $440 | $399267 |
| 1.27%, 03/02/27, (1-day SOFR + 0.609%)<sup>(b)</sup> | &nbsp;&nbsp; 502 | 478633 |
| 1.89%, 06/07/29, (1-day SOFR + 0.862%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 295 | 265268 |
| 1.95%, 06/05/30 | &nbsp;&nbsp; 293 | 250738 |
| 4.12%, 06/06/28, (1-day SOFR + 1.368%)<sup>(b)</sup> | &nbsp;&nbsp; 410 | 402963 |
| 4.87%, 01/26/29, (1-day SOFR + 1.435%)<sup>(b)</sup> | &nbsp;&nbsp; 1330 | 1325389 |
| 5.12%, 01/26/34, (1-day SOFR + 1.852%)<sup>(b)</sup> | &nbsp;&nbsp; 545 | 534063 |
| 5.15%, 08/05/32, (1-day SOFR + 1.571%)<sup>(b)</sup> | &nbsp;&nbsp; 635 | 630501 |
| 5.44%, 01/24/30, (1-day SOFR + 1.620%)<sup>(b)</sup> | &nbsp;&nbsp; 565 | 572003 |
| 5.71%, 01/24/35, (1-day SOFR + 1.922%)<sup>(b)</sup> | &nbsp;&nbsp; 770 | 784210 |
| 5.87%, 06/08/34, (1-day SOFR + 2.361%)<sup>(b)</sup> | &nbsp;&nbsp; 725 | 745619 |
| 6.05%, 06/08/27, (1-day SOFR + 2.050%)<sup>(b)</sup> | &nbsp;&nbsp; 1110 | 1130687 |
| 6.12%, 10/28/33, (1-day SOFR + 2.300%)<sup>(b)</sup> | &nbsp;&nbsp; 980 | 1024570 |
| 7.16%, 10/30/29, (1-day SOFR + 2.446%)<sup>(b)</sup> | &nbsp;&nbsp; 1090 | 1168599 |
| U.S. Bancorp |  |  |
| 1.38%, 07/22/30 | &nbsp;&nbsp; 840 | 695787 |
| 2.22%, 01/27/28, (1-day SOFR + 0.730%)<sup>(b)</sup> | &nbsp;&nbsp; 610 | 576823 |
| 2.49%, 11/03/36, (5-year CMT + 0.950%)<sup>(b)</sup> | &nbsp;&nbsp; 1350 | 1104805 |
| 2.68%, 01/27/33, (1-day SOFR + 1.020%)<sup>(b)</sup> | &nbsp;&nbsp; 340 | 288928 |
| 3.00%, 07/30/29 | &nbsp;&nbsp; 642 | 588621 |
| 3.10%, 04/27/26<sup>(a)</sup> | &nbsp;&nbsp; 633 | 617472 |
| 3.90%, 04/26/28 | &nbsp;&nbsp; 550 | 533988 |
| 3.95%, 11/17/25 | &nbsp;&nbsp; 200 | 198644 |
| 4.55%, 07/22/28, (1-day SOFR + 1.660%)<sup>(b)</sup> | &nbsp;&nbsp; 990 | 983770 |
| 4.65%, 02/01/29, (1-day SOFR + 1.230%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 705 | 700770 |
| 4.84%, 02/01/34, (1-day SOFR + 1.600%)<sup>(b)</sup> | &nbsp;&nbsp; 805 | 778948 |
| 4.97%, 07/22/33, (1-day SOFR + 2.110%)<sup>(b)</sup> | &nbsp;&nbsp; 1080 | 1047226 |
| 5.10%, 07/23/30, (1-day SOFR +1.250%)<sup>(b)</sup> | &nbsp;&nbsp; 780 | 782757 |
| 5.38%, 01/23/30, (1-day SOFR + 1.560%)<sup>(b)</sup> | &nbsp;&nbsp; 1046 | 1062669 |
| 5.68%, 01/23/35, (1-day SOFR + 1.860%)<sup>(b)</sup> | &nbsp;&nbsp; 845 | 866341 |
| 5.78%, 06/12/29, (1-day SOFR + 2.020%)<sup>(b)</sup> | &nbsp;&nbsp; 960 | 987361 |
| 5.84%, 06/12/34, (1-day SOFR + 2.260%)<sup>(b)</sup> | &nbsp;&nbsp; 728 | 752396 |
| 5.85%, 10/21/33, (1-day SOFR + 2.090%)<sup>(b)</sup> | &nbsp;&nbsp; 635 | 657623 |
| 6.79%, 10/26/27, (1-day SOFR + 1.880%)<sup>(b)</sup> | &nbsp;&nbsp; 750 | 778791 |
| Series V, 2.38%, 07/22/26 | &nbsp;&nbsp; 1019 | 983533 |
| Series X, 3.15%, 04/27/27 | &nbsp;&nbsp; 509 | 492847 |
| U.S. Bank NA/Cincinnati OH, 4.51%, 10/22/27, <br> (1-day SOFR + 0.690%)<sup>(b)</sup><br>| &nbsp;&nbsp; 70 | 69758 |
| UBS AG/London |  |  |
| 1.25%, 06/01/26 | &nbsp;&nbsp; 740 | 702576 |
| 4.50%, 06/26/48 | &nbsp;&nbsp; 519 | 463755 |
| 5.65%, 09/11/28 | &nbsp;&nbsp; 1050 | 1081962 |
| UBS AG/Stamford CT |  |  |
| 1.25%, 08/07/26<sup>(a)</sup> | &nbsp;&nbsp; 835 | 788155 |
| 5.00%, 07/09/27 | &nbsp;&nbsp; 615 | 620169 |
| 7.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1690 | 1820465 |
| UBS Group AG |  |  |
| 4.55%, 04/17/26 | &nbsp;&nbsp; 1535 | 1529013 |
| 4.88%, 05/15/45 | &nbsp;&nbsp; 1275 | 1176568 |
| Wachovia Corp., 5.50%, 08/01/35 | &nbsp;&nbsp; 590 | 597325 |
| Wells Fargo & Co. |  |  |
| 2.39%, 06/02/28, (1-day SOFR + 2.100%)<sup>(b)</sup> | &nbsp;&nbsp; 1115 | 1049080 |
| 2.57%, 02/11/31, <br> (3-mo. CME Term SOFR + 1.262%)<sup>(b)</sup><br>| &nbsp;&nbsp; 998 | 883880 |
| 2.88%, 10/30/30, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1545 | 1400810 |
| 3.00%, 04/22/26 | &nbsp;&nbsp; 1729 | 1688049 |
| 3.00%, 10/23/26 | &nbsp;&nbsp; 1065 | 1031442 |
| 3.07%, 04/30/41, (1-day SOFR + 2.530%)<sup>(b)</sup> | &nbsp;&nbsp; 1648 | 1237357 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.20%, 06/17/27, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(b)</sup><br>| &nbsp;&nbsp; $1402 | $1367104 |
| 3.35%, 03/02/33, (1-day SOFR + 1.500%)<sup>(b)</sup> | &nbsp;&nbsp; 1870 | 1662412 |
| 3.53%, 03/24/28, (1-day SOFR + 1.510%)<sup>(b)</sup> | &nbsp;&nbsp; 1555 | 1508763 |
| 3.58%, 05/22/28, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(b)</sup><br>| &nbsp;&nbsp; 1014 | 982783 |
| 3.90%, 05/01/45 | &nbsp;&nbsp; 948 | 767830 |
| 4.10%, 06/03/26 | &nbsp;&nbsp; 979 | 968256 |
| 4.15%, 01/24/29 | &nbsp;&nbsp; 1100 | 1072704 |
| 4.30%, 07/22/27 | &nbsp;&nbsp; 981 | 967627 |
| 4.40%, 06/14/46 | &nbsp;&nbsp; 770 | 637827 |
| 4.48%, 04/04/31, <br> (3-mo. CME Term SOFR + 4.032%)<sup>(b)</sup><br>| &nbsp;&nbsp; 791 | 772524 |
| 4.61%, 04/25/53, (1-day SOFR + 2.130%)<sup>(b)</sup> | &nbsp;&nbsp; 1690 | 1484677 |
| 4.65%, 11/04/44 | &nbsp;&nbsp; 847 | 734908 |
| 4.75%, 12/07/46 | &nbsp;&nbsp; 1091 | 952338 |
| 4.81%, 07/25/28, (1-day SOFR + 1.980%)<sup>(b)</sup> | &nbsp;&nbsp; 1230 | 1228232 |
| 4.90%, 07/25/33, (1-day SOFR + 2.100%)<sup>(b)</sup> | &nbsp;&nbsp; 2015 | 1972808 |
| 4.90%, 11/17/45 | &nbsp;&nbsp; 833 | 744011 |
| 5.01%, 04/04/51, <br> (3-mo. CME Term SOFR + 4.502%)<sup>(b)</sup><br>| &nbsp;&nbsp; 2747 | 2558856 |
| 5.20%, 01/23/30, (1-day SOFR + 1.500%)<sup>(b)</sup> | &nbsp;&nbsp; 1665 | 1682062 |
| 5.38%, 11/02/43 | &nbsp;&nbsp; 875 | 840640 |
| 5.39%, 04/24/34, (1-day SOFR + 2.020%)<sup>(b)</sup> | &nbsp;&nbsp; 1430 | 1439880 |
| 5.50%, 01/23/35, (1-day SOFR + 1.780%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 1290 | 1308913 |
| 5.56%, 07/25/34, (1-day SOFR + 1.990%)<sup>(b)</sup> | &nbsp;&nbsp; 2010 | 2044979 |
| 5.57%, 07/25/29, (1-day SOFR + 1.740%)<sup>(b)</sup> | &nbsp;&nbsp; 1480 | 1510951 |
| 5.61%, 01/15/44 | &nbsp;&nbsp; 1010 | 992509 |
| 5.71%, 04/22/28, (1-day SOFR +1.070%)<sup>(b)</sup> | &nbsp;&nbsp; 1640 | 1671756 |
| 6.30%, 10/23/29, (1-day SOFR + 1.790%)<sup>(b)</sup> | &nbsp;&nbsp; 1000 | 1048036 |
| 6.49%, 10/23/34, (1-day SOFR + 2.060%)<sup>(b)</sup> | &nbsp;&nbsp; 1605 | 1736733 |
| Wells Fargo Bank NA |  |  |
| 4.81%, 01/15/26 | &nbsp;&nbsp; 575 | 576323 |
| 5.25%, 12/11/26 | &nbsp;&nbsp; 895 | 908427 |
| 5.45%, 08/07/26 | &nbsp;&nbsp; 1060 | 1075855 |
| 5.85%, 02/01/37 | &nbsp;&nbsp; 310 | 320850 |
| 5.95%, 08/26/36 | &nbsp;&nbsp; 475 | 499313 |
| 6.60%, 01/15/38 | &nbsp;&nbsp; 493 | 547726 |
| Westpac Banking Corp. |  |  |
| 1.15%, 06/03/26 | &nbsp;&nbsp; 450 | 427448 |
| 1.95%, 11/20/28 | &nbsp;&nbsp; 420 | 380211 |
| 2.15%, 06/03/31 | &nbsp;&nbsp; 375 | 322286 |
| 2.65%, 01/16/30 | &nbsp;&nbsp; 300 | 272166 |
| 2.67%, 11/15/35, (5-year CMT + 1.750%)<sup>(b)</sup> | &nbsp;&nbsp; 830 | 709761 |
| 2.70%, 08/19/26 | &nbsp;&nbsp; 540 | 524172 |
| 2.85%, 05/13/26 | &nbsp;&nbsp; 760 | 742141 |
| 2.96%, 11/16/40<sup>(a)</sup> | &nbsp;&nbsp; 695 | 505013 |
| 3.02%, 11/18/36, (5-year CMT + 1.530%)<sup>(b)</sup> | &nbsp;&nbsp; 310 | 264769 |
| 3.13%, 11/18/41 | &nbsp;&nbsp; 715 | 525597 |
| 3.35%, 03/08/27 | &nbsp;&nbsp; 575 | 561055 |
| 3.40%, 01/25/28 | &nbsp;&nbsp; 520 | 501827 |
| 4.04%, 08/26/27 | &nbsp;&nbsp; 335 | 331417 |
| 4.11%, 07/24/34, (5-year CMT + 2.000%)<sup>(b)</sup> | &nbsp;&nbsp; 1205 | 1140346 |
| 4.32%, 11/23/31, <br> (5-year USD ICE Swap + 2.236%)<sup>(b)</sup><br>| &nbsp;&nbsp; 510 | 501945 |
| 4.42%, 07/24/39 | &nbsp;&nbsp; 620 | 562087 |
| 5.05%, 04/16/29 | &nbsp;&nbsp; 405 | 412182 |
| 5.20%, 04/16/26 | &nbsp;&nbsp; 375 | 378791 |
| 5.41%, 08/10/33, (1-year CMT + 2.680%)<sup>(b)</sup> | &nbsp;&nbsp; 455 | 456087 |
| 5.46%, 11/18/27 | &nbsp;&nbsp; 685 | 703324 |
| 5.51%, 11/17/25 | &nbsp;&nbsp; 375 | 378998 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.54%, 11/17/28 | &nbsp;&nbsp; $465 | $482098 |
| 6.82%, 11/17/33 | &nbsp;&nbsp; 475 | 524037 |
|  |  | 554329930 |
| **Beverages — 3.2%** | **Beverages — 3.2%** | **Beverages — 3.2%** |
| Anheuser-Busch Companies LLC/Anheuser-Busch <br> InBev Worldwide Inc.<br>|  |  |
| 3.65%, 02/01/26 | &nbsp;&nbsp; 200 | 197694 |
| 4.70%, 02/01/36 | &nbsp;&nbsp; 3160 | 3046996 |
| 4.90%, 02/01/46 | &nbsp;&nbsp; 4425 | 4126792 |
| Anheuser-Busch InBev Finance Inc. |  |  |
| 4.63%, 02/01/44 | &nbsp;&nbsp; 200 | 181749 |
| 4.70%, 02/01/36<sup>(a)</sup> | &nbsp;&nbsp; 205 | 197658 |
| 4.90%, 02/01/46 | &nbsp;&nbsp; 735 | 682606 |
| Anheuser-Busch InBev Worldwide Inc. |  |  |
| 3.50%, 06/01/30 | &nbsp;&nbsp; 780 | 734607 |
| 4.00%, 04/13/28 | &nbsp;&nbsp; 1095 | 1077296 |
| 4.35%, 06/01/40 | &nbsp;&nbsp; 345 | 310539 |
| 4.38%, 04/15/38 | &nbsp;&nbsp; 740 | 678653 |
| 4.44%, 10/06/48 | &nbsp;&nbsp; 1205 | 1052652 |
| 4.50%, 06/01/50 | &nbsp;&nbsp; 730 | 655429 |
| 4.60%, 04/15/48 | &nbsp;&nbsp; 579 | 524517 |
| 4.75%, 01/23/29 | &nbsp;&nbsp; 1885 | 1893763 |
| 4.75%, 04/15/58 | &nbsp;&nbsp; 475 | 428329 |
| 4.90%, 01/23/31 | &nbsp;&nbsp; 650 | 656888 |
| 4.95%, 01/15/42 | &nbsp;&nbsp; 710 | 675736 |
| 5.00%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 935 | 939299 |
| 5.45%, 01/23/39<sup>(a)</sup> | &nbsp;&nbsp; 975 | 992944 |
| 5.55%, 01/23/49 | &nbsp;&nbsp; 2700 | 2756184 |
| 5.80%, 01/23/59<sup>(a)</sup> | &nbsp;&nbsp; 945 | 1003018 |
| 8.20%, 01/15/39 | &nbsp;&nbsp; 990 | 1267915 |
| Brown-Forman Corp. |  |  |
| 4.50%, 07/15/45<sup>(a)</sup> | &nbsp;&nbsp; 205 | 184385 |
| 4.75%, 04/15/33 | &nbsp;&nbsp; 290 | 287564 |
| Coca-Cola Co. (The) |  |  |
| 1.00%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 550 | 494457 |
| 1.38%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 564 | 464547 |
| 1.45%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 455 | 424868 |
| 1.50%, 03/05/28<sup>(a)</sup> | &nbsp;&nbsp; 711 | 647487 |
| 1.65%, 06/01/30 | &nbsp;&nbsp; 620 | 531814 |
| 2.00%, 03/05/31 | &nbsp;&nbsp; 355 | 305125 |
| 2.13%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 378 | 340092 |
| 2.25%, 01/05/32 | &nbsp;&nbsp; 810 | 697578 |
| 2.50%, 06/01/40 | &nbsp;&nbsp; 524 | 376131 |
| 2.50%, 03/15/51 | &nbsp;&nbsp; 678 | 417495 |
| 2.60%, 06/01/50 | &nbsp;&nbsp; 1005 | 636579 |
| 2.75%, 06/01/60<sup>(a)</sup> | &nbsp;&nbsp; 412 | 254263 |
| 2.88%, 05/05/41 | &nbsp;&nbsp; 280 | 209487 |
| 2.90%, 05/25/27 | &nbsp;&nbsp; 184 | 177898 |
| 3.00%, 03/05/51<sup>(a)</sup> | &nbsp;&nbsp; 737 | 507308 |
| 3.38%, 03/25/27 | &nbsp;&nbsp; 616 | 603379 |
| 3.45%, 03/25/30 | &nbsp;&nbsp; 745 | 707155 |
| 4.20%, 03/25/50 | &nbsp;&nbsp; 290 | 253900 |
| 4.65%, 08/14/34 | &nbsp;&nbsp; 350 | 344876 |
| 5.00%, 05/13/34 | &nbsp;&nbsp; 345 | 349756 |
| 5.20%, 01/14/55 | &nbsp;&nbsp; 1130 | 1122851 |
| 5.30%, 05/13/54<sup>(a)</sup> | &nbsp;&nbsp; 555 | 558756 |
| 5.40%, 05/13/64 | &nbsp;&nbsp; 965 | 973089 |
| Coca-Cola Femsa SAB de CV |  |  |
| 1.85%, 09/01/32 | &nbsp;&nbsp; 643 | 513302 |
| 2.75%, 01/22/30 | &nbsp;&nbsp; 395 | 356848 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| Diageo Capital PLC |  |  |
| 2.00%, 04/29/30<sup>(a)</sup> | &nbsp;&nbsp; $438 | $380574 |
| 2.13%, 04/29/32 | &nbsp;&nbsp; 525 | 435127 |
| 2.38%, 10/24/29 | &nbsp;&nbsp; 433 | 389757 |
| 3.88%, 05/18/28 | &nbsp;&nbsp; 150 | 147149 |
| 3.88%, 04/29/43 | &nbsp;&nbsp; 206 | 171200 |
| 5.30%, 10/24/27 | &nbsp;&nbsp; 495 | 506990 |
| 5.38%, 10/05/26 | &nbsp;&nbsp; 280 | 284283 |
| 5.50%, 01/24/33 | &nbsp;&nbsp; 270 | 278874 |
| 5.63%, 10/05/33 | &nbsp;&nbsp; 410 | 427349 |
| 5.88%, 09/30/36 | &nbsp;&nbsp; 354 | 379586 |
| Diageo Investment Corp., 4.25%, 05/11/42<sup>(a)</sup> | &nbsp;&nbsp; 183 | 159843 |
| PepsiCo Inc. |  |  |
| 1.40%, 02/25/31 | &nbsp;&nbsp; 300 | 247191 |
| 1.63%, 05/01/30 | &nbsp;&nbsp; 540 | 460924 |
| 1.95%, 10/21/31 | &nbsp;&nbsp; 620 | 520849 |
| 2.38%, 10/06/26 | &nbsp;&nbsp; 477 | 459997 |
| 2.63%, 03/19/27 | &nbsp;&nbsp; 315 | 302538 |
| 2.63%, 07/29/29 | &nbsp;&nbsp; 723 | 664718 |
| 2.63%, 10/21/41 | &nbsp;&nbsp; 465 | 329419 |
| 2.75%, 03/19/30 | &nbsp;&nbsp; 697 | 635039 |
| 2.75%, 10/21/51<sup>(a)</sup> | &nbsp;&nbsp; 505 | 325740 |
| 2.85%, 02/24/26 | &nbsp;&nbsp; 220 | 215651 |
| 2.88%, 10/15/49 | &nbsp;&nbsp; 495 | 334226 |
| 3.00%, 10/15/27 | &nbsp;&nbsp; 705 | 680141 |
| 3.45%, 10/06/46 | &nbsp;&nbsp; 381 | 290247 |
| 3.60%, 02/18/28 | &nbsp;&nbsp; 305 | 297481 |
| 3.63%, 03/19/50 | &nbsp;&nbsp; 614 | 476461 |
| 3.88%, 03/19/60 | &nbsp;&nbsp; 200 | 156778 |
| 3.90%, 07/18/32 | &nbsp;&nbsp; 660 | 626940 |
| 4.00%, 05/02/47 | &nbsp;&nbsp; 275 | 227350 |
| 4.20%, 07/18/52 | &nbsp;&nbsp; 520 | 441171 |
| 4.45%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 280 | 281084 |
| 4.45%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 395 | 397714 |
| 4.45%, 04/14/46 | &nbsp;&nbsp; 565 | 503368 |
| 4.50%, 07/17/29<sup>(a)</sup> | &nbsp;&nbsp; 330 | 331382 |
| 4.55%, 02/13/26 | &nbsp;&nbsp; 195 | 195411 |
| 4.65%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 285 | 259987 |
| 4.80%, 07/17/34 | &nbsp;&nbsp; 380 | 378001 |
| 5.13%, 11/10/26 | &nbsp;&nbsp; 475 | 482143 |
| 5.25%, 11/10/25 | &nbsp;&nbsp; 365 | 367988 |
| 5.25%, 07/17/54 | &nbsp;&nbsp; 315 | 316542 |
| 5.50%, 01/15/40 | &nbsp;&nbsp; 340 | 355417 |
| 7.00%, 03/01/29 | &nbsp;&nbsp; 605 | 664639 |
| Pepsico Singapore Financing I Pte Ltd., 4.65%, <br> 02/16/27<br>| &nbsp;&nbsp; 270 | 271547 |
|  |  | 52881070 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| Air Products and Chemicals Inc. |  |  |
| 1.85%, 05/15/27 | &nbsp;&nbsp; 431 | 404626 |
| 2.05%, 05/15/30 | &nbsp;&nbsp; 755 | 658197 |
| 2.70%, 05/15/40 | &nbsp;&nbsp; 952 | 697238 |
| 2.80%, 05/15/50 | &nbsp;&nbsp; 423 | 276750 |
| 4.60%, 02/08/29<sup>(a)</sup> | &nbsp;&nbsp; 665 | 666408 |
| 4.75%, 02/08/31<sup>(a)</sup> | &nbsp;&nbsp; 425 | 425660 |
| 4.80%, 03/03/33 | &nbsp;&nbsp; 340 | 338935 |
| 4.85%, 02/08/34<sup>(a)</sup> | &nbsp;&nbsp; 645 | 640489 |
| Ecolab Inc. |  |  |
| 1.30%, 01/30/31 | &nbsp;&nbsp; 180 | 147123 |
| 1.65%, 02/01/27 | &nbsp;&nbsp; 295 | 277416 |
| 2.13%, 02/01/32 | &nbsp;&nbsp; 310 | 260617 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| 2.13%, 08/15/50 | &nbsp;&nbsp; $285 | $159544 |
| 2.70%, 11/01/26 | &nbsp;&nbsp; 460 | 444178 |
| 2.70%, 12/15/51 | &nbsp;&nbsp; 740 | 464976 |
| 2.75%, 08/18/55 | &nbsp;&nbsp; 270 | 166819 |
| 3.25%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 322 | 310178 |
| 4.80%, 03/24/30 | &nbsp;&nbsp; 297 | 298426 |
| 5.25%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 90 | 91979 |
| EIDP Inc. |  |  |
| 2.30%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 342 | 300759 |
| 4.50%, 05/15/26 | &nbsp;&nbsp; 410 | 409357 |
| 4.80%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp; 420 | 413375 |
| Linde Inc./CT |  |  |
| 1.10%, 08/10/30 | &nbsp;&nbsp; 490 | 405249 |
| 3.20%, 01/30/26 | &nbsp;&nbsp; 276 | 271987 |
| 3.55%, 11/07/42<sup>(a)</sup> | &nbsp;&nbsp; 242 | 195065 |
| 4.70%, 12/05/25 | &nbsp;&nbsp; 305 | 305399 |
|  |  | 9030750 |
| **Commercial Services — 1.1%** | **Commercial Services — 1.1%** | **Commercial Services — 1.1%** |
| American University (The), Series 2019, 3.67%, <br> 04/01/49<br>| &nbsp;&nbsp; 183 | 144009 |
| Automatic Data Processing Inc. |  |  |
| 1.25%, 09/01/30 | &nbsp;&nbsp; 806 | 670324 |
| 1.70%, 05/15/28 | &nbsp;&nbsp; 612 | 558508 |
| 4.45%, 09/09/34 | &nbsp;&nbsp; 270 | 261190 |
| Brown University, Series A, 2.92%, 09/01/50<sup>(a)</sup> | &nbsp;&nbsp; 200 | 138306 |
| California Institute of Technology, 3.65%, <br> 09/01/2119<br>| &nbsp;&nbsp; 200 | 133635 |
| Cintas Corp. No. 2 |  |  |
| 3.70%, 04/01/27 | &nbsp;&nbsp; 363 | 356535 |
| 4.00%, 05/01/32 | &nbsp;&nbsp; 300 | 284655 |
| Cornell University, 4.84%, 06/15/34 | &nbsp;&nbsp; 125 | 124875 |
| Duke University, Series 2020, 2.83%, 10/01/55 | &nbsp;&nbsp; 275 | 182426 |
| Ford Foundation (The), Series 2020, 2.82%, <br> 06/01/70<br>| &nbsp;&nbsp; 325 | 194242 |
| George Washington University (The), Series 2018, <br> 4.13%, 09/15/48<sup>(a)</sup><br>| &nbsp;&nbsp; 431 | 366565 |
| Leland Stanford Junior University (The), 3.65%, <br> 05/01/48<br>| &nbsp;&nbsp; 479 | 388323 |
| Massachusetts Institute of Technology |  |  |
| 3.07%, 04/01/52 | &nbsp;&nbsp; 210 | 148584 |
| 3.89%, 07/01/2116 | &nbsp;&nbsp; 173 | 129162 |
| 4.68% | &nbsp;&nbsp; 345 | 310908 |
| 5.60%<sup>(a)</sup> | &nbsp;&nbsp; 253 | 271727 |
| Series F, 2.99%, 07/01/50 | &nbsp;&nbsp; 170 | 119608 |
| Northwestern University, 4.64%, 12/01/44 | &nbsp;&nbsp; 194 | 183405 |
| PayPal Holdings Inc. |  |  |
| 2.30%, 06/01/30 | &nbsp;&nbsp; 645 | 568496 |
| 2.65%, 10/01/26 | &nbsp;&nbsp; 670 | 647486 |
| 2.85%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 840 | 773182 |
| 3.25%, 06/01/50 | &nbsp;&nbsp; 455 | 321795 |
| 3.90%, 06/01/27 | &nbsp;&nbsp; 385 | 380305 |
| 4.40%, 06/01/32 | &nbsp;&nbsp; 465 | 451594 |
| 5.05%, 06/01/52<sup>(a)</sup> | &nbsp;&nbsp; 590 | 560389 |
| 5.15%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 595 | 599481 |
| 5.25%, 06/01/62<sup>(a)</sup> | &nbsp;&nbsp; 320 | 304478 |
| President and Fellows of Harvard College |  |  |
| 2.52%, 10/15/50<sup>(a)</sup> | &nbsp;&nbsp; 181 | 115705 |
| 3.15%, 07/15/46 | &nbsp;&nbsp; 214 | 159219 |
| 3.30%, 07/15/56 | &nbsp;&nbsp; 200 | 145670 |
| 3.75%, 11/15/52<sup>(a)</sup> | &nbsp;&nbsp; 180 | 145290 |
| Series ., 4.61%, 02/15/35<sup>(a)</sup> | &nbsp;&nbsp; 525 | 518804 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Rockefeller Foundation (The), Series 2020, 2.49%, <br> 10/01/50<br>| &nbsp;&nbsp; $410 | $258645 |
| S&P Global Inc. |  |  |
| 1.25%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 285 | 236272 |
| 2.30%, 08/15/60 | &nbsp;&nbsp; 333 | 175795 |
| 2.45%, 03/01/27 | &nbsp;&nbsp; 595 | 567653 |
| 2.50%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 485 | 437531 |
| 2.70%, 03/01/29 | &nbsp;&nbsp; 675 | 623121 |
| 2.90%, 03/01/32 | &nbsp;&nbsp; 585 | 515240 |
| 2.95%, 01/22/27<sup>(a)</sup> | &nbsp;&nbsp; 308 | 297996 |
| 3.25%, 12/01/49 | &nbsp;&nbsp; 604 | 432074 |
| 3.70%, 03/01/52 | &nbsp;&nbsp; 510 | 392973 |
| 3.90%, 03/01/62 | &nbsp;&nbsp; 505 | 390483 |
| 4.25%, 05/01/29 | &nbsp;&nbsp; 405 | 397848 |
| 4.75%, 08/01/28 | &nbsp;&nbsp; 270 | 271088 |
| 5.25%, 09/15/33 | &nbsp;&nbsp; 235 | 240462 |
| Thomas Jefferson University, 3.85%, 11/01/57<sup>(a)</sup> | &nbsp;&nbsp; 155 | 117106 |
| Trustees of Princeton University (The) |  |  |
| 5.70%, 03/01/39 | &nbsp;&nbsp; 194 | 207632 |
| Series 2020, 2.52%, 07/01/50<sup>(a)</sup> | &nbsp;&nbsp; 334 | 221278 |
| University of Miami, 4.06%, 04/01/52 | &nbsp;&nbsp; 300 | 247203 |
| University of Southern California |  |  |
| 3.03%, 10/01/39<sup>(a)</sup> | &nbsp;&nbsp; 274 | 223004 |
| 4.98%, 10/01/53<sup>(a)</sup> | &nbsp;&nbsp; 35 | 34344 |
| Washington University (The) |  |  |
| 3.52%, 04/15/54<sup>(a)</sup> | &nbsp;&nbsp; 200 | 153843 |
| 4.35% | &nbsp;&nbsp; 205 | 166828 |
| Yale University |  |  |
| Series 2020, 1.48%, 04/15/30 | &nbsp;&nbsp; 230 | 196258 |
| Series 2020, 2.40%, 04/15/50 | &nbsp;&nbsp; 510 | 319771 |
|  |  | 17783329 |
| **Computers — 2.9%** | **Computers — 2.9%** | **Computers — 2.9%** |
| Accenture Capital Inc. |  |  |
| 3.90%, 10/04/27 | &nbsp;&nbsp; 65 | 64194 |
| 4.05%, 10/04/29 | &nbsp;&nbsp; 65 | 63548 |
| 4.25%, 10/04/31 | &nbsp;&nbsp; 40 | 38760 |
| 4.50%, 10/04/34 | &nbsp;&nbsp; 35 | 33830 |
| Apple Inc. |  |  |
| 0.70%, 02/08/26<sup>(a)</sup> | &nbsp;&nbsp; 1117 | 1066301 |
| 1.20%, 02/08/28 | &nbsp;&nbsp; 1178 | 1066765 |
| 1.25%, 08/20/30<sup>(a)</sup> | &nbsp;&nbsp; 588 | 494172 |
| 1.40%, 08/05/28 | &nbsp;&nbsp; 1285 | 1154370 |
| 1.65%, 05/11/30 | &nbsp;&nbsp; 796 | 685986 |
| 1.65%, 02/08/31 | &nbsp;&nbsp; 997 | 846507 |
| 1.70%, 08/05/31<sup>(a)</sup> | &nbsp;&nbsp; 665 | 559484 |
| 2.05%, 09/11/26 | &nbsp;&nbsp; 1035 | 992856 |
| 2.20%, 09/11/29 | &nbsp;&nbsp; 702 | 635185 |
| 2.38%, 02/08/41 | &nbsp;&nbsp; 1045 | 740035 |
| 2.40%, 08/20/50 | &nbsp;&nbsp; 475 | 292547 |
| 2.45%, 08/04/26 | &nbsp;&nbsp; 1195 | 1157122 |
| 2.55%, 08/20/60<sup>(a)</sup> | &nbsp;&nbsp; 845 | 518827 |
| 2.65%, 05/11/50<sup>(a)</sup> | &nbsp;&nbsp; 915 | 593189 |
| 2.65%, 02/08/51 | &nbsp;&nbsp; 1307 | 839732 |
| 2.70%, 08/05/51 | &nbsp;&nbsp; 1028 | 664856 |
| 2.80%, 02/08/61 | &nbsp;&nbsp; 825 | 512123 |
| 2.85%, 08/05/61 | &nbsp;&nbsp; 750 | 473064 |
| 2.90%, 09/12/27 | &nbsp;&nbsp; 1135 | 1092480 |
| 2.95%, 09/11/49 | &nbsp;&nbsp; 808 | 559227 |
| 3.00%, 06/20/27 | &nbsp;&nbsp; 636 | 615938 |
| 3.00%, 11/13/27 | &nbsp;&nbsp; 769 | 740562 |
| 3.20%, 05/11/27 | &nbsp;&nbsp; 1007 | 980378 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| 3.25%, 02/23/26 | &nbsp;&nbsp; $1541 | $1519899 |
| 3.25%, 08/08/29 | &nbsp;&nbsp; 440 | 418756 |
| 3.35%, 02/09/27 | &nbsp;&nbsp; 1268 | 1242050 |
| 3.35%, 08/08/32 | &nbsp;&nbsp; 690 | 638650 |
| 3.45%, 02/09/45 | &nbsp;&nbsp; 749 | 591576 |
| 3.75%, 09/12/47 | &nbsp;&nbsp; 355 | 287597 |
| 3.75%, 11/13/47 | &nbsp;&nbsp; 652 | 528392 |
| 3.85%, 05/04/43 | &nbsp;&nbsp; 1837 | 1565821 |
| 3.85%, 08/04/46 | &nbsp;&nbsp; 812 | 672815 |
| 3.95%, 08/08/52 | &nbsp;&nbsp; 830 | 686970 |
| 4.00%, 05/10/28 | &nbsp;&nbsp; 845 | 837718 |
| 4.10%, 08/08/62 | &nbsp;&nbsp; 575 | 476198 |
| 4.15%, 05/10/30<sup>(a)</sup> | &nbsp;&nbsp; 215 | 213823 |
| 4.25%, 02/09/47 | &nbsp;&nbsp; 408 | 360744 |
| 4.30%, 05/10/33<sup>(a)</sup> | &nbsp;&nbsp; 780 | 776113 |
| 4.38%, 05/13/45 | &nbsp;&nbsp; 823 | 743323 |
| 4.45%, 05/06/44<sup>(a)</sup> | &nbsp;&nbsp; 769 | 722323 |
| 4.50%, 02/23/36<sup>(a)</sup> | &nbsp;&nbsp; 758 | 749483 |
| 4.65%, 02/23/46 | &nbsp;&nbsp; 2152 | 2022911 |
| 4.85%, 05/10/53<sup>(a)</sup> | &nbsp;&nbsp; 715 | 698858 |
| IBM International Capital Pte Ltd. |  |  |
| 4.60%, 02/05/27 | &nbsp;&nbsp; 180 | 180367 |
| 4.60%, 02/05/29 | &nbsp;&nbsp; 75 | 74745 |
| 4.70%, 02/05/26 | &nbsp;&nbsp; 30 | 30018 |
| 4.75%, 02/05/31 | &nbsp;&nbsp; 65 | 64938 |
| 4.90%, 02/05/34<sup>(a)</sup> | &nbsp;&nbsp; 405 | 399541 |
| 5.25%, 02/05/44 | &nbsp;&nbsp; 925 | 891451 |
| 5.30%, 02/05/54 | &nbsp;&nbsp; 755 | 723074 |
| International Business Machines Corp. |  |  |
| 1.70%, 05/15/27 | &nbsp;&nbsp; 670 | 624497 |
| 1.95%, 05/15/30 | &nbsp;&nbsp; 605 | 520206 |
| 2.20%, 02/09/27 | &nbsp;&nbsp; 280 | 265800 |
| 2.72%, 02/09/32 | &nbsp;&nbsp; 105 | 91311 |
| 2.85%, 05/15/40 | &nbsp;&nbsp; 263 | 191498 |
| 2.95%, 05/15/50 | &nbsp;&nbsp; 920 | 600400 |
| 3.30%, 05/15/26 | &nbsp;&nbsp; 1670 | 1638368 |
| 3.30%, 01/27/27 | &nbsp;&nbsp; 315 | 306858 |
| 3.43%, 02/09/52<sup>(a)</sup> | &nbsp;&nbsp; 310 | 219330 |
| 3.45%, 02/19/26 | &nbsp;&nbsp; 573 | 565164 |
| 3.50%, 05/15/29 | &nbsp;&nbsp; 1430 | 1358921 |
| 4.00%, 06/20/42 | &nbsp;&nbsp; 575 | 479800 |
| 4.15%, 07/27/27<sup>(a)</sup> | &nbsp;&nbsp; 435 | 430408 |
| 4.15%, 05/15/39 | &nbsp;&nbsp; 1230 | 1076056 |
| 4.25%, 05/15/49 | &nbsp;&nbsp; 1375 | 1138557 |
| 4.40%, 07/27/32 | &nbsp;&nbsp; 315 | 305225 |
| 4.50%, 02/06/26 | &nbsp;&nbsp; 215 | 214694 |
| 4.50%, 02/06/28 | &nbsp;&nbsp; 570 | 569123 |
| 4.70%, 02/19/46<sup>(a)</sup> | &nbsp;&nbsp; 295 | 264835 |
| 4.75%, 02/06/33 | &nbsp;&nbsp; 280 | 277509 |
| 4.90%, 07/27/52 | &nbsp;&nbsp; 270 | 247516 |
| 5.10%, 02/06/53 | &nbsp;&nbsp; 310 | 295359 |
| 5.60%, 11/30/39 | &nbsp;&nbsp; 304 | 311004 |
| 5.88%, 11/29/32 | &nbsp;&nbsp; 287 | 304697 |
|  |  | 47897328 |
| **Cosmetics & Personal Care — 1.6%** | **Cosmetics & Personal Care — 1.6%** | **Cosmetics & Personal Care — 1.6%** |
| Colgate-Palmolive Co. |  |  |
| 3.10%, 08/15/27 | &nbsp;&nbsp; 295 | 286272 |
| 3.25%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 320 | 291383 |
| 3.70%, 08/01/47 | &nbsp;&nbsp; 198 | 158517 |
| 4.00%, 08/15/45<sup>(a)</sup> | &nbsp;&nbsp; 522 | 444812 |
| 4.60%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 220 | 222989 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** |
| 4.60%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp; $440 | $439416 |
| 4.80%, 03/02/26 | &nbsp;&nbsp; 360 | 362192 |
| Estee Lauder Companies Inc. (The) |  |  |
| 1.95%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 330 | 276572 |
| 2.38%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1140 | 1018935 |
| 2.60%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 550 | 494194 |
| 3.13%, 12/01/49 | &nbsp;&nbsp; 384 | 260289 |
| 3.15%, 03/15/27 | &nbsp;&nbsp; 288 | 278995 |
| 4.15%, 03/15/47 | &nbsp;&nbsp; 395 | 325093 |
| 4.38%, 05/15/28 | &nbsp;&nbsp; 550 | 545226 |
| 4.65%, 05/15/33 | &nbsp;&nbsp; 345 | 333626 |
| 5.00%, 02/14/34<sup>(a)</sup> | &nbsp;&nbsp; 185 | 183573 |
| 5.15%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 375 | 368536 |
| Kenvue Inc. |  |  |
| 4.90%, 03/22/33<sup>(a)</sup> | &nbsp;&nbsp; 890 | 890141 |
| 5.00%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; 875 | 888911 |
| 5.05%, 03/22/28 | &nbsp;&nbsp; 590 | 600440 |
| 5.05%, 03/22/53<sup>(a)</sup> | &nbsp;&nbsp; 770 | 746190 |
| 5.10%, 03/22/43<sup>(a)</sup> | &nbsp;&nbsp; 445 | 436797 |
| 5.20%, 03/22/63<sup>(a)</sup> | &nbsp;&nbsp; 445 | 431453 |
| 5.35%, 03/22/26 | &nbsp;&nbsp; 670 | 677483 |
| Procter & Gamble Co. (The) |  |  |
| 1.00%, 04/23/26 | &nbsp;&nbsp; 370 | 353532 |
| 1.20%, 10/29/30 | &nbsp;&nbsp; 750 | 622027 |
| 1.90%, 02/01/27 | &nbsp;&nbsp; 600 | 569795 |
| 1.95%, 04/23/31 | &nbsp;&nbsp; 1850 | 1603216 |
| 2.30%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 760 | 662623 |
| 2.45%, 11/03/26 | &nbsp;&nbsp; 356 | 343550 |
| 2.70%, 02/02/26 | &nbsp;&nbsp; 714 | 700518 |
| 2.80%, 03/25/27 | &nbsp;&nbsp; 272 | 263068 |
| 2.85%, 08/11/27 | &nbsp;&nbsp; 623 | 599812 |
| 3.00%, 03/25/30 | &nbsp;&nbsp; 680 | 631833 |
| 3.55%, 03/25/40 | &nbsp;&nbsp; 345 | 292147 |
| 3.95%, 01/26/28 | &nbsp;&nbsp; 710 | 701990 |
| 4.05%, 01/26/33<sup>(a)</sup> | &nbsp;&nbsp; 475 | 459526 |
| 4.10%, 01/26/26<sup>(a)</sup> | &nbsp;&nbsp; 420 | 419326 |
| 4.15%, 10/24/29 | &nbsp;&nbsp; 250 | 248321 |
| 4.35%, 01/29/29<sup>(a)</sup> | &nbsp;&nbsp; 380 | 380369 |
| 4.55%, 01/29/34 | &nbsp;&nbsp; 900 | 894282 |
| 4.55%, 10/24/34<sup>(a)</sup> | &nbsp;&nbsp; 250 | 248638 |
| 5.55%, 03/05/37<sup>(a)</sup> | &nbsp;&nbsp; 415 | 443919 |
| Unilever Capital Corp. |  |  |
| 1.38%, 09/14/30 | &nbsp;&nbsp; 225 | 187537 |
| 1.75%, 08/12/31<sup>(a)</sup> | &nbsp;&nbsp; 430 | 358750 |
| 2.00%, 07/28/26<sup>(a)</sup> | &nbsp;&nbsp; 540 | 519009 |
| 2.13%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 565 | 504668 |
| 2.90%, 05/05/27 | &nbsp;&nbsp; 665 | 641409 |
| 3.50%, 03/22/28<sup>(a)</sup> | &nbsp;&nbsp; 683 | 662070 |
| 4.25%, 08/12/27 | &nbsp;&nbsp; 130 | 129517 |
| 4.63%, 08/12/34 | &nbsp;&nbsp; 155 | 152102 |
| 4.88%, 09/08/28<sup>(a)</sup> | &nbsp;&nbsp; 305 | 308861 |
| 5.00%, 12/08/33 | &nbsp;&nbsp; 575 | 582402 |
| 5.90%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; 708 | 760608 |
| Series 30Y, 2.63%, 08/12/51<sup>(a)</sup> | &nbsp;&nbsp; 390 | 249804 |
|  |  | 26457264 |
| **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** |
| WW Grainger Inc. |  |  |
| 4.45%, 09/15/34 | &nbsp;&nbsp; 250 | 242324 |
| 4.60%, 06/15/45 | &nbsp;&nbsp; 322 | 293207 |
|  |  | 535531 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services — 3.8%** | **Diversified Financial Services — 3.8%** | **Diversified Financial Services — 3.8%** |
| American Express Co. |  |  |
| 1.65%, 11/04/26 | &nbsp;&nbsp; $715 | $674656 |
| 2.55%, 03/04/27 | &nbsp;&nbsp; 800 | 763865 |
| 3.13%, 05/20/26 | &nbsp;&nbsp; 490 | 479738 |
| 3.30%, 05/03/27 | &nbsp;&nbsp; 1149 | 1113468 |
| 4.05%, 05/03/29<sup>(a)</sup> | &nbsp;&nbsp; 570 | 557651 |
| 4.05%, 12/03/42<sup>(a)</sup> | &nbsp;&nbsp; 1029 | 882462 |
| 4.20%, 11/06/25<sup>(a)</sup> | &nbsp;&nbsp; 410 | 408662 |
| 4.42%, 08/03/33, (1-day SOFR + 1.760%)<sup>(b)</sup> | &nbsp;&nbsp; 510 | 490001 |
| 4.90%, 02/13/26 | &nbsp;&nbsp; 635 | 637678 |
| 4.99%, 05/26/33, (1-day SOFR + 2.255%)<sup>(b)</sup> | &nbsp;&nbsp; 810 | 799992 |
| 5.04%, 07/26/28, (1-day SOFR +0.930%)<sup>(b)</sup> | &nbsp;&nbsp; 195 | 196206 |
| 5.04%, 05/01/34, (1-day SOFR + 1.835%)<sup>(b)</sup> | &nbsp;&nbsp; 640 | 638349 |
| 5.10%, 02/16/28, (1-day SOFR + 1.000%)<sup>(b)</sup> | &nbsp;&nbsp; 595 | 599431 |
| 5.28%, 07/27/29, <br> (1-day SOFR Index + 1.280%)<sup>(b)</sup><br>| &nbsp;&nbsp; 620 | 629731 |
| 5.28%, 07/26/35, (1-day SOFR +1.420%)<sup>(b)</sup> | &nbsp;&nbsp; 760 | 761333 |
| 5.39%, 07/28/27, (1-day SOFR + 0.970%)<sup>(b)</sup> | &nbsp;&nbsp; 430 | 434499 |
| 5.53%, 04/25/30, <br> (1-day SOFR Index + 1.090%)<sup>(b)</sup><br>| &nbsp;&nbsp; 390 | 399754 |
| 5.63%, 07/28/34, (1-day SOFR + 1.930%)<sup>(b)</sup> | &nbsp;&nbsp; 165 | 167703 |
| 5.65%, 04/23/27, <br> (1-day SOFR Index + 0.750%)<sup>(b)</sup><br>| &nbsp;&nbsp; 805 | 815196 |
| 5.85%, 11/05/27<sup>(a)</sup> | &nbsp;&nbsp; 860 | 889368 |
| 5.92%, 04/25/35, (1-day SOFR +1.630%)<sup>(b)</sup> | &nbsp;&nbsp; 190 | 196273 |
| 6.49%, 10/30/31, (1-day SOFR + 1.940%)<sup>(b)</sup> | &nbsp;&nbsp; 670 | 720875 |
| Ameriprise Financial Inc. |  |  |
| 2.88%, 09/15/26 | &nbsp;&nbsp; 375 | 364360 |
| 4.50%, 05/13/32 | &nbsp;&nbsp; 485 | 476619 |
| 5.15%, 05/15/33 | &nbsp;&nbsp; 430 | 434520 |
| 5.70%, 12/15/28 | &nbsp;&nbsp; 490 | 510525 |
| Apollo Global Management Inc. |  |  |
| 5.80%, 05/21/54 | &nbsp;&nbsp; 535 | 547598 |
| 6.38%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp; 445 | 485175 |
| Brookfield Capital Finance LLC, 6.09%, 06/14/33 | &nbsp;&nbsp; 135 | 141561 |
| Brookfield Finance I U.K. PLC/Brookfield <br> Finance Inc., 2.34%, 01/30/32<br>| &nbsp;&nbsp; 580 | 483806 |
| Brookfield Finance Inc. |  |  |
| 2.72%, 04/15/31 | &nbsp;&nbsp; 290 | 253479 |
| 3.50%, 03/30/51 | &nbsp;&nbsp; 263 | 186609 |
| 3.90%, 01/25/28 | &nbsp;&nbsp; 941 | 916547 |
| 4.25%, 06/02/26<sup>(a)</sup> | &nbsp;&nbsp; 396 | 393522 |
| 4.35%, 04/15/30 | &nbsp;&nbsp; 621 | 602507 |
| 4.70%, 09/20/47 | &nbsp;&nbsp; 372 | 329805 |
| 4.85%, 03/29/29<sup>(a)</sup> | &nbsp;&nbsp; 335 | 334708 |
| 5.97%, 03/04/54 | &nbsp;&nbsp; 720 | 744234 |
| 6.35%, 01/05/34<sup>(a)</sup> | &nbsp;&nbsp; 270 | 288962 |
| Brookfield Finance LLC/Brookfield Finance Inc., <br> 3.45%, 04/15/50<br>| &nbsp;&nbsp; 309 | 218630 |
| Cboe Global Markets Inc. |  |  |
| 1.63%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 620 | 515199 |
| 3.65%, 01/12/27 | &nbsp;&nbsp; 494 | 484731 |
| Charles Schwab Corp. (The) |  |  |
| 0.90%, 03/11/26<sup>(a)</sup> | &nbsp;&nbsp; 451 | 428466 |
| 1.15%, 05/13/26<sup>(a)</sup> | &nbsp;&nbsp; 610 | 579076 |
| 1.65%, 03/11/31 | &nbsp;&nbsp; 304 | 251573 |
| 1.95%, 12/01/31 | &nbsp;&nbsp; 850 | 699842 |
| 2.00%, 03/20/28<sup>(a)</sup> | &nbsp;&nbsp; 601 | 551406 |
| 2.30%, 05/13/31 | &nbsp;&nbsp; 430 | 369410 |
| 2.45%, 03/03/27 | &nbsp;&nbsp; 665 | 632913 |
| 2.90%, 03/03/32 | &nbsp;&nbsp; 470 | 411258 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 3.20%, 03/02/27 | &nbsp;&nbsp; $415 | $401671 |
| 3.20%, 01/25/28 | &nbsp;&nbsp; 455 | 434665 |
| 3.25%, 05/22/29 | &nbsp;&nbsp; 276 | 259873 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 358 | 346976 |
| 4.00%, 02/01/29 | &nbsp;&nbsp; 422 | 411280 |
| 4.63%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; 491 | 491479 |
| 5.64%, 05/19/29, (1-day SOFR + 2.210%)<sup>(b)</sup> | &nbsp;&nbsp; 870 | 891985 |
| 5.85%, 05/19/34, (1-day SOFR + 2.500%)<sup>(b)</sup> | &nbsp;&nbsp; 595 | 619069 |
| 5.88%, 08/24/26 | &nbsp;&nbsp; 535 | 545936 |
| 6.14%, 08/24/34, (1-day SOFR + 2.010%)<sup>(b)</sup> | &nbsp;&nbsp; 718 | 761309 |
| 6.20%, 11/17/29, (1-day SOFR + 1.878%)<sup>(b)</sup> | &nbsp;&nbsp; 590 | 619203 |
| CME Group Inc. |  |  |
| 2.65%, 03/15/32 | &nbsp;&nbsp; 460 | 401889 |
| 3.75%, 06/15/28 | &nbsp;&nbsp; 577 | 565463 |
| 4.15%, 06/15/48<sup>(a)</sup> | &nbsp;&nbsp; 720 | 616331 |
| 5.30%, 09/15/43 | &nbsp;&nbsp; 512 | 524355 |
| Credit Suisse USA LLC, 7.13%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 181 | 203059 |
| Franklin Resources Inc., 1.60%, 10/30/30 | &nbsp;&nbsp; 685 | 567198 |
| Intercontinental Exchange Inc. |  |  |
| 1.85%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp; 920 | 737493 |
| 2.10%, 06/15/30 | &nbsp;&nbsp; 765 | 663189 |
| 2.65%, 09/15/40 | &nbsp;&nbsp; 665 | 475308 |
| 3.00%, 06/15/50 | &nbsp;&nbsp; 750 | 500697 |
| 3.00%, 09/15/60 | &nbsp;&nbsp; 730 | 455070 |
| 3.10%, 09/15/27 | &nbsp;&nbsp; 495 | 475760 |
| 3.63%, 09/01/28 | &nbsp;&nbsp; 430 | 413635 |
| 3.75%, 12/01/25 | &nbsp;&nbsp; 470 | 465742 |
| 3.75%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; 225 | 217298 |
| 4.00%, 09/15/27 | &nbsp;&nbsp; 770 | 759636 |
| 4.25%, 09/21/48 | &nbsp;&nbsp; 765 | 646221 |
| 4.35%, 06/15/29 | &nbsp;&nbsp; 515 | 507716 |
| 4.60%, 03/15/33 | &nbsp;&nbsp; 1225 | 1192417 |
| 4.95%, 06/15/52<sup>(a)</sup> | &nbsp;&nbsp; 779 | 733282 |
| 5.20%, 06/15/62 | &nbsp;&nbsp; 485 | 467770 |
| 5.25%, 06/15/31 | &nbsp;&nbsp; 270 | 275465 |
| Invesco Finance PLC, 3.75%, 01/15/26 | &nbsp;&nbsp; 191 | 188513 |
| Legg Mason Inc., 5.63%, 01/15/44 | &nbsp;&nbsp; 393 | 393119 |
| Mastercard Inc. |  |  |
| 1.90%, 03/15/31 | &nbsp;&nbsp; 260 | 222190 |
| 2.00%, 11/18/31 | &nbsp;&nbsp; 375 | 315483 |
| 2.95%, 11/21/26 | &nbsp;&nbsp; 476 | 463023 |
| 2.95%, 06/01/29 | &nbsp;&nbsp; 461 | 432100 |
| 2.95%, 03/15/51 | &nbsp;&nbsp; 308 | 208592 |
| 3.30%, 03/26/27 | &nbsp;&nbsp; 650 | 634066 |
| 3.35%, 03/26/30 | &nbsp;&nbsp; 712 | 668857 |
| 3.50%, 02/26/28 | &nbsp;&nbsp; 670 | 650982 |
| 3.65%, 06/01/49 | &nbsp;&nbsp; 380 | 296299 |
| 3.80%, 11/21/46 | &nbsp;&nbsp; 306 | 247076 |
| 3.85%, 03/26/50 | &nbsp;&nbsp; 706 | 568758 |
| 3.95%, 02/26/48 | &nbsp;&nbsp; 285 | 236530 |
| 4.10%, 01/15/28 | &nbsp;&nbsp; 280 | 277742 |
| 4.35%, 01/15/32 | &nbsp;&nbsp; 240 | 233671 |
| 4.55%, 01/15/35<sup>(a)</sup> | &nbsp;&nbsp; 195 | 189094 |
| 4.85%, 03/09/33 | &nbsp;&nbsp; 625 | 627046 |
| 4.88%, 03/09/28<sup>(a)</sup> | &nbsp;&nbsp; 510 | 517380 |
| 4.88%, 05/09/34 | &nbsp;&nbsp; 810 | 809668 |
| ORIX Corp. |  |  |
| 2.25%, 03/09/31 | &nbsp;&nbsp; 170 | 143420 |
| 4.00%, 04/13/32 | &nbsp;&nbsp; 155 | 143853 |
| 4.65%, 09/10/29<sup>(a)</sup> | &nbsp;&nbsp; 150 | 148030 |
| 5.00%, 09/13/27<sup>(a)</sup> | &nbsp;&nbsp; 165 | 165541 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 5.20%, 09/13/32 | &nbsp;&nbsp; $185 | $185170 |
| Raymond James Financial Inc. |  |  |
| 3.75%, 04/01/51 | &nbsp;&nbsp; 435 | 325844 |
| 4.65%, 04/01/30 | &nbsp;&nbsp; 535 | 534239 |
| 4.95%, 07/15/46<sup>(a)</sup> | &nbsp;&nbsp; 740 | 683826 |
| Visa Inc. |  |  |
| 0.75%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 557 | 507037 |
| 1.10%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 655 | 534827 |
| 1.90%, 04/15/27 | &nbsp;&nbsp; 796 | 751076 |
| 2.00%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; 708 | 404182 |
| 2.05%, 04/15/30 | &nbsp;&nbsp; 883 | 776979 |
| 2.70%, 04/15/40 | &nbsp;&nbsp; 331 | 248014 |
| 2.75%, 09/15/27 | &nbsp;&nbsp; 552 | 530287 |
| 3.15%, 12/14/25 | &nbsp;&nbsp; 1351 | 1332402 |
| 3.65%, 09/15/47 | &nbsp;&nbsp; 658 | 523272 |
| 4.15%, 12/14/35<sup>(a)</sup> | &nbsp;&nbsp; 872 | 822857 |
| 4.30%, 12/14/45 | &nbsp;&nbsp; 2286 | 2020869 |
|  |  | 62504286 |
| **Electric — 6.7%** | **Electric — 6.7%** | **Electric — 6.7%** |
| AEP Transmission Co. LLC |  |  |
| 3.75%, 12/01/47 | &nbsp;&nbsp; 225 | 173251 |
| 4.50%, 06/15/52 | &nbsp;&nbsp; 185 | 160178 |
| 5.40%, 03/15/53 | &nbsp;&nbsp; 265 | 262326 |
| Series M, 3.65%, 04/01/50 | &nbsp;&nbsp; 285 | 214786 |
| Alabama Power Co. |  |  |
| 3.00%, 03/15/52 | &nbsp;&nbsp; 265 | 176643 |
| 3.05%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 210 | 186334 |
| 3.13%, 07/15/51 | &nbsp;&nbsp; 355 | 241259 |
| 3.45%, 10/01/49 | &nbsp;&nbsp; 335 | 244550 |
| 3.75%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; 280 | 275100 |
| 3.75%, 03/01/45 | &nbsp;&nbsp; 278 | 220040 |
| 6.00%, 03/01/39 | &nbsp;&nbsp; 157 | 167998 |
| Series 20-A, 1.45%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 260 | 216714 |
| Series A, 4.30%, 07/15/48 | &nbsp;&nbsp; 812 | 691066 |
| Series B, 3.70%, 12/01/47 | &nbsp;&nbsp; 224 | 172376 |
| Ameren Illinois Co. |  |  |
| 3.70%, 12/01/47 | &nbsp;&nbsp; 316 | 243433 |
| 3.85%, 09/01/32 | &nbsp;&nbsp; 215 | 199658 |
| 4.50%, 03/15/49 | &nbsp;&nbsp; 250 | 218942 |
| 4.95%, 06/01/33 | &nbsp;&nbsp; 220 | 219397 |
| 5.55%, 07/01/54<sup>(a)</sup> | &nbsp;&nbsp; 490 | 503443 |
| Baltimore Gas & Electric Co. |  |  |
| 2.25%, 06/15/31 | &nbsp;&nbsp; 318 | 272347 |
| 3.50%, 08/15/46 | &nbsp;&nbsp; 313 | 233374 |
| 4.55%, 06/01/52 | &nbsp;&nbsp; 253 | 220344 |
| 5.40%, 06/01/53 | &nbsp;&nbsp; 230 | 227018 |
| Berkshire Hathaway Energy Co. |  |  |
| 1.65%, 05/15/31 | &nbsp;&nbsp; 220 | 181652 |
| 2.85%, 05/15/51 | &nbsp;&nbsp; 1470 | 940796 |
| 3.25%, 04/15/28 | &nbsp;&nbsp; 264 | 252530 |
| 3.70%, 07/15/30 | &nbsp;&nbsp; 575 | 545836 |
| 3.80%, 07/15/48 | &nbsp;&nbsp; 290 | 221376 |
| 4.25%, 10/15/50 | &nbsp;&nbsp; 300 | 245166 |
| 4.45%, 01/15/49 | &nbsp;&nbsp; 937 | 795494 |
| 4.50%, 02/01/45 | &nbsp;&nbsp; 327 | 289139 |
| 4.60%, 05/01/53 | &nbsp;&nbsp; 445 | 381809 |
| 5.15%, 11/15/43 | &nbsp;&nbsp; 400 | 388473 |
| 5.95%, 05/15/37 | &nbsp;&nbsp; 415 | 437849 |
| 6.13%, 04/01/36 | &nbsp;&nbsp; 1106 | 1180323 |
| CenterPoint Energy Houston Electric LLC |  |  |
| 3.55%, 08/01/42 | &nbsp;&nbsp; 155 | 121565 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 3.60%, 03/01/52 | &nbsp;&nbsp; $245 | $180758 |
| 4.50%, 04/01/44 | &nbsp;&nbsp; 299 | 263468 |
| 4.95%, 04/01/33 | &nbsp;&nbsp; 255 | 252761 |
| 5.05%, 03/01/35 | &nbsp;&nbsp; 70 | 69790 |
| 5.20%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 265 | 270003 |
| Series AC, 4.25%, 02/01/49 | &nbsp;&nbsp; 613 | 510879 |
| Series AF, 3.35%, 04/01/51 | &nbsp;&nbsp; 268 | 189527 |
| Series ai., 4.45%, 10/01/32 | &nbsp;&nbsp; 225 | 217335 |
| Commonwealth Edison Co. |  |  |
| 2.55%, 06/15/26 | &nbsp;&nbsp; 316 | 306047 |
| 3.00%, 03/01/50 | &nbsp;&nbsp; 270 | 180247 |
| 3.65%, 06/15/46<sup>(a)</sup> | &nbsp;&nbsp; 287 | 222599 |
| 3.70%, 08/15/28 | &nbsp;&nbsp; 208 | 200917 |
| 4.00%, 03/01/48 | &nbsp;&nbsp; 385 | 310817 |
| 5.30%, 02/01/53 | &nbsp;&nbsp; 205 | 200237 |
| 5.90%, 03/15/36 | &nbsp;&nbsp; 480 | 509064 |
| Series 123, 3.75%, 08/15/47 | &nbsp;&nbsp; 206 | 159424 |
| Series 130, 3.13%, 03/15/51 | &nbsp;&nbsp; 466 | 315813 |
| Connecticut Light and Power Co. (The) |  |  |
| 4.00%, 04/01/48 | &nbsp;&nbsp; 570 | 467171 |
| 5.25%, 01/15/53 | &nbsp;&nbsp; 195 | 192205 |
| Series A, 3.20%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 80 | 77627 |
| Consolidated Edison Co. of New York Inc. |  |  |
| 2.40%, 06/15/31 | &nbsp;&nbsp; 485 | 421180 |
| 3.20%, 12/01/51 | &nbsp;&nbsp; 290 | 198012 |
| 3.60%, 06/15/61<sup>(a)</sup> | &nbsp;&nbsp; 285 | 203134 |
| 3.70%, 11/15/59 | &nbsp;&nbsp; 365 | 265330 |
| 3.85%, 06/15/46 | &nbsp;&nbsp; 235 | 183773 |
| 3.95%, 03/01/43 | &nbsp;&nbsp; 392 | 323509 |
| 4.45%, 03/15/44 | &nbsp;&nbsp; 768 | 672612 |
| 4.50%, 12/01/45 | &nbsp;&nbsp; 248 | 216471 |
| 4.50%, 05/15/58 | &nbsp;&nbsp; 260 | 218196 |
| 4.63%, 12/01/54 | &nbsp;&nbsp; 313 | 274815 |
| 5.20%, 03/01/33 | &nbsp;&nbsp; 200 | 203633 |
| 5.50%, 03/15/34 | &nbsp;&nbsp; 275 | 285384 |
| 5.70%, 05/15/54<sup>(a)</sup> | &nbsp;&nbsp; 450 | 465280 |
| 5.90%, 11/15/53 | &nbsp;&nbsp; 445 | 470159 |
| 6.15%, 11/15/52 | &nbsp;&nbsp; 395 | 430489 |
| Series 07-A, 6.30%, 08/15/37 | &nbsp;&nbsp; 187 | 203770 |
| Series 08-B, 6.75%, 04/01/38<sup>(a)</sup> | &nbsp;&nbsp; 346 | 392356 |
| Series 09-C, 5.50%, 12/01/39 | &nbsp;&nbsp; 406 | 410519 |
| Series 2017, 3.88%, 06/15/47 | &nbsp;&nbsp; 205 | 161168 |
| Series 20A, 3.35%, 04/01/30 | &nbsp;&nbsp; 333 | 311696 |
| Series 20B, 3.95%, 04/01/50 | &nbsp;&nbsp; 414 | 337208 |
| Series A, 4.13%, 05/15/49 | &nbsp;&nbsp; 353 | 288629 |
| Series C, 3.00%, 12/01/60 | &nbsp;&nbsp; 310 | 188670 |
| Series C, 4.30%, 12/01/56 | &nbsp;&nbsp; 195 | 159986 |
| Series D, 4.00%, 12/01/28 | &nbsp;&nbsp; 530 | 517804 |
| Series E, 4.65%, 12/01/48 | &nbsp;&nbsp; 547 | 485401 |
| Consumers Energy Co. |  |  |
| 2.50%, 05/01/60<sup>(a)</sup> | &nbsp;&nbsp; 173 | 98939 |
| 3.10%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; 235 | 165550 |
| 3.50%, 08/01/51 | &nbsp;&nbsp; 692 | 527314 |
| 4.05%, 05/15/48<sup>(a)</sup> | &nbsp;&nbsp; 365 | 302818 |
| 4.35%, 04/15/49<sup>(a)</sup> | &nbsp;&nbsp; 238 | 204679 |
| 4.60%, 05/30/29<sup>(a)</sup> | &nbsp;&nbsp; 315 | 314347 |
| 4.63%, 05/15/33 | &nbsp;&nbsp; 410 | 402920 |
| 4.70%, 01/15/30 | &nbsp;&nbsp; 120 | 120016 |
| 4.90%, 02/15/29 | &nbsp;&nbsp; 170 | 171607 |
| Dominion Energy South Carolina Inc. |  |  |
| 5.10%, 06/01/65 | &nbsp;&nbsp; 239 | 221422 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 6.05%, 01/15/38 | &nbsp;&nbsp; $205 | $218738 |
| 6.25%, 10/15/53 | &nbsp;&nbsp; 155 | 173296 |
| DTE Electric Co. |  |  |
| 2.25%, 03/01/30 | &nbsp;&nbsp; 263 | 232612 |
| 2.95%, 03/01/50 | &nbsp;&nbsp; 362 | 242427 |
| 3.70%, 03/15/45 | &nbsp;&nbsp; 226 | 177418 |
| 3.95%, 03/01/49 | &nbsp;&nbsp; 380 | 306791 |
| 4.85%, 12/01/26 | &nbsp;&nbsp; 240 | 242200 |
| 5.20%, 04/01/33 | &nbsp;&nbsp; 240 | 243679 |
| 5.20%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp; 285 | 288603 |
| 5.40%, 04/01/53 | &nbsp;&nbsp; 510 | 510796 |
| Series A, 1.90%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 313 | 286671 |
| Series A, 3.00%, 03/01/32 | &nbsp;&nbsp; 205 | 182542 |
| Series A, 4.05%, 05/15/48 | &nbsp;&nbsp; 90 | 74398 |
| Series C, 2.63%, 03/01/31 | &nbsp;&nbsp; 229 | 202656 |
| Duke Energy Carolinas LLC |  |  |
| 2.45%, 02/01/30 | &nbsp;&nbsp; 240 | 214528 |
| 2.55%, 04/15/31 | &nbsp;&nbsp; 294 | 256616 |
| 2.85%, 03/15/32 | &nbsp;&nbsp; 150 | 131362 |
| 2.95%, 12/01/26 | &nbsp;&nbsp; 250 | 242573 |
| 3.20%, 08/15/49 | &nbsp;&nbsp; 755 | 523842 |
| 3.55%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 340 | 248679 |
| 3.70%, 12/01/47 | &nbsp;&nbsp; 230 | 175612 |
| 3.75%, 06/01/45 | &nbsp;&nbsp; 257 | 201727 |
| 3.88%, 03/15/46 | &nbsp;&nbsp; 180 | 142943 |
| 3.95%, 11/15/28 | &nbsp;&nbsp; 250 | 243845 |
| 3.95%, 03/15/48 | &nbsp;&nbsp; 187 | 148661 |
| 4.00%, 09/30/42 | &nbsp;&nbsp; 420 | 349128 |
| 4.25%, 12/15/41 | &nbsp;&nbsp; 276 | 241287 |
| 4.85%, 01/15/34 | &nbsp;&nbsp; 215 | 212213 |
| 4.95%, 01/15/33 | &nbsp;&nbsp; 840 | 836701 |
| 5.30%, 02/15/40 | &nbsp;&nbsp; 316 | 315636 |
| 5.35%, 01/15/53 | &nbsp;&nbsp; 525 | 516475 |
| 5.40%, 01/15/54 | &nbsp;&nbsp; 522 | 519327 |
| 6.00%, 01/15/38 | &nbsp;&nbsp; 147 | 156309 |
| 6.05%, 04/15/38 | &nbsp;&nbsp; 250 | 267388 |
| Duke Energy Florida LLC |  |  |
| 1.75%, 06/15/30 | &nbsp;&nbsp; 230 | 196225 |
| 2.40%, 12/15/31 | &nbsp;&nbsp; 540 | 459418 |
| 2.50%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 370 | 333531 |
| 3.00%, 12/15/51 | &nbsp;&nbsp; 230 | 149949 |
| 3.20%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 367 | 357057 |
| 3.40%, 10/01/46 | &nbsp;&nbsp; 525 | 382089 |
| 3.80%, 07/15/28 | &nbsp;&nbsp; 335 | 326335 |
| 5.88%, 11/15/33 | &nbsp;&nbsp; 300 | 317982 |
| 5.95%, 11/15/52 | &nbsp;&nbsp; 320 | 338665 |
| 6.20%, 11/15/53 | &nbsp;&nbsp; 310 | 339078 |
| 6.35%, 09/15/37 | &nbsp;&nbsp; 170 | 184716 |
| 6.40%, 06/15/38 | &nbsp;&nbsp; 460 | 504237 |
| Duke Energy Indiana LLC |  |  |
| 2.75%, 04/01/50 | &nbsp;&nbsp; 360 | 225302 |
| 3.75%, 05/15/46 | &nbsp;&nbsp; 170 | 130853 |
| 5.40%, 04/01/53 | &nbsp;&nbsp; 285 | 280350 |
| 6.35%, 08/15/38 | &nbsp;&nbsp; 216 | 236801 |
| Series YYY, 3.25%, 10/01/49 | &nbsp;&nbsp; 215 | 149875 |
| Duke Energy Progress LLC |  |  |
| 2.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 220 | 184335 |
| 2.50%, 08/15/50 | &nbsp;&nbsp; 253 | 152737 |
| 3.40%, 04/01/32 | &nbsp;&nbsp; 235 | 214006 |
| 3.45%, 03/15/29 | &nbsp;&nbsp; 270 | 257706 |
| 3.60%, 09/15/47 | &nbsp;&nbsp; 190 | 141900 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 3.70%, 09/01/28 | &nbsp;&nbsp; $224 | $216808 |
| 4.10%, 05/15/42 | &nbsp;&nbsp; 250 | 210084 |
| 4.10%, 03/15/43 | &nbsp;&nbsp; 186 | 155385 |
| 4.15%, 12/01/44 | &nbsp;&nbsp; 215 | 179240 |
| 4.20%, 08/15/45 | &nbsp;&nbsp; 515 | 429838 |
| 5.10%, 03/15/34 | &nbsp;&nbsp; 320 | 322345 |
| 5.25%, 03/15/33 | &nbsp;&nbsp; 340 | 345937 |
| 5.35%, 03/15/53 | &nbsp;&nbsp; 205 | 201199 |
| Entergy Arkansas LLC |  |  |
| 2.65%, 06/15/51 | &nbsp;&nbsp; 332 | 202622 |
| 3.50%, 04/01/26 | &nbsp;&nbsp; 365 | 359961 |
| 4.20%, 04/01/49 | &nbsp;&nbsp; 500 | 410224 |
| Entergy Louisiana LLC |  |  |
| 2.35%, 06/15/32 | &nbsp;&nbsp; 190 | 159982 |
| 2.90%, 03/15/51 | &nbsp;&nbsp; 235 | 149195 |
| 3.10%, 06/15/41 | &nbsp;&nbsp; 160 | 117728 |
| 4.00%, 03/15/33 | &nbsp;&nbsp; 342 | 317526 |
| 4.20%, 09/01/48 | &nbsp;&nbsp; 488 | 402244 |
| 4.20%, 04/01/50 | &nbsp;&nbsp; 268 | 218755 |
| 4.75%, 09/15/52 | &nbsp;&nbsp; 230 | 203969 |
| 5.15%, 09/15/34 | &nbsp;&nbsp; 220 | 219119 |
| 5.35%, 03/15/34 | &nbsp;&nbsp; 135 | 137223 |
| 5.70%, 03/15/54<sup>(a)</sup> | &nbsp;&nbsp; 515 | 527101 |
| Entergy Texas Inc., 1.75%, 03/15/31 | &nbsp;&nbsp; 365 | 303180 |
| Evergy Kansas Central Inc. |  |  |
| 3.45%, 04/15/50 | &nbsp;&nbsp; 200 | 142700 |
| 4.13%, 03/01/42 | &nbsp;&nbsp; 541 | 452209 |
| Florida Power & Light Co. |  |  |
| 2.45%, 02/03/32 | &nbsp;&nbsp; 735 | 628561 |
| 2.88%, 12/04/51<sup>(a)</sup> | &nbsp;&nbsp; 659 | 431932 |
| 3.13%, 12/01/25 | &nbsp;&nbsp; 301 | 296534 |
| 3.15%, 10/01/49 | &nbsp;&nbsp; 344 | 240418 |
| 3.70%, 12/01/47 | &nbsp;&nbsp; 350 | 270725 |
| 3.95%, 03/01/48 | &nbsp;&nbsp; 448 | 363808 |
| 3.99%, 03/01/49 | &nbsp;&nbsp; 350 | 283940 |
| 4.05%, 06/01/42 | &nbsp;&nbsp; 308 | 261770 |
| 4.05%, 10/01/44 | &nbsp;&nbsp; 135 | 113372 |
| 4.13%, 02/01/42 | &nbsp;&nbsp; 397 | 341542 |
| 4.13%, 06/01/48 | &nbsp;&nbsp; 187 | 156177 |
| 4.40%, 05/15/28 | &nbsp;&nbsp; 450 | 447482 |
| 4.45%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 585 | 585542 |
| 4.63%, 05/15/30 | &nbsp;&nbsp; 365 | 363863 |
| 4.80%, 05/15/33 | &nbsp;&nbsp; 385 | 380561 |
| 5.05%, 04/01/28 | &nbsp;&nbsp; 485 | 491644 |
| 5.10%, 04/01/33 | &nbsp;&nbsp; 380 | 382563 |
| 5.15%, 06/15/29 | &nbsp;&nbsp; 580 | 591381 |
| 5.30%, 06/15/34 | &nbsp;&nbsp; 640 | 653160 |
| 5.30%, 04/01/53 | &nbsp;&nbsp; 820 | 809716 |
| 5.60%, 06/15/54 | &nbsp;&nbsp; 475 | 489879 |
| 5.69%, 03/01/40<sup>(a)</sup> | &nbsp;&nbsp; 215 | 223800 |
| 5.95%, 02/01/38 | &nbsp;&nbsp; 405 | 430088 |
| 5.96%, 04/01/39 | &nbsp;&nbsp; 185 | 197024 |
| Georgia Power Co. |  |  |
| 4.30%, 03/15/42 | &nbsp;&nbsp; 685 | 597538 |
| 4.65%, 05/16/28 | &nbsp;&nbsp; 330 | 330318 |
| 4.70%, 05/15/32 | &nbsp;&nbsp; 485 | 480718 |
| 4.95%, 05/17/33 | &nbsp;&nbsp; 580 | 578318 |
| 5.00%, 02/23/27 | &nbsp;&nbsp; 245 | 247680 |
| 5.13%, 05/15/52<sup>(a)</sup> | &nbsp;&nbsp; 410 | 393035 |
| 5.25%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 375 | 380852 |
| Series 10-C, 4.75%, 09/01/40 | &nbsp;&nbsp; 85 | 79483 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Series A, 3.25%, 03/15/51 | &nbsp;&nbsp; $365 | $254866 |
| Series B, 2.65%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 190 | 173224 |
| Series B, 3.70%, 01/30/50 | &nbsp;&nbsp; 230 | 174606 |
| Indiana Michigan Power Co., 5.63%, 04/01/53 | &nbsp;&nbsp; 225 | 228894 |
| John Sevier Combined Cycle Generation LLC, <br> 4.63%, 01/15/42<br>| &nbsp;&nbsp; 138 | 130024 |
| Kentucky Utilities Co. |  |  |
| 3.30%, 06/01/50 | &nbsp;&nbsp; 300 | 209716 |
| 4.38%, 10/01/45 | &nbsp;&nbsp; 212 | 179814 |
| 5.13%, 11/01/40 | &nbsp;&nbsp; 299 | 288910 |
| MidAmerican Energy Co. |  |  |
| 2.70%, 08/01/52 | &nbsp;&nbsp; 300 | 189047 |
| 3.15%, 04/15/50 | &nbsp;&nbsp; 260 | 181623 |
| 3.65%, 04/15/29 | &nbsp;&nbsp; 413 | 396557 |
| 3.65%, 08/01/48 | &nbsp;&nbsp; 298 | 229309 |
| 4.25%, 07/15/49<sup>(a)</sup> | &nbsp;&nbsp; 362 | 306204 |
| 5.30%, 02/01/55 | &nbsp;&nbsp; 270 | 265283 |
| 5.85%, 09/15/54<sup>(a)</sup> | &nbsp;&nbsp; 810 | 858214 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 1.00%, 06/15/26 | &nbsp;&nbsp; 248 | 234443 |
| 2.40%, 03/15/30 | &nbsp;&nbsp; 298 | 263811 |
| 2.75%, 04/15/32 | &nbsp;&nbsp; 390 | 338475 |
| 3.40%, 02/07/28 | &nbsp;&nbsp; 391 | 376520 |
| 4.02%, 11/01/32 | &nbsp;&nbsp; 198 | 186310 |
| 4.12%, 09/16/27 | &nbsp;&nbsp; 295 | 291946 |
| 4.30%, 03/15/49 | &nbsp;&nbsp; 172 | 143723 |
| 4.45%, 03/13/26 | &nbsp;&nbsp; 380 | 379202 |
| 4.80%, 02/05/27 | &nbsp;&nbsp; 200 | 201342 |
| 4.80%, 03/15/28 | &nbsp;&nbsp; 615 | 618675 |
| 4.85%, 02/07/29 | &nbsp;&nbsp; 305 | 307167 |
| 5.15%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 95 | 96602 |
| 5.80%, 01/15/33 | &nbsp;&nbsp; 490 | 515097 |
| Nevada Power Co. |  |  |
| 6.00%, 03/15/54 | &nbsp;&nbsp; 210 | 222698 |
| Series CC, 3.70%, 05/01/29 | &nbsp;&nbsp; 555 | 531683 |
| Northern States Power Co./MN |  |  |
| 2.60%, 06/01/51 | &nbsp;&nbsp; 370 | 229439 |
| 2.90%, 03/01/50 | &nbsp;&nbsp; 348 | 232365 |
| 3.40%, 08/15/42 | &nbsp;&nbsp; 109 | 85258 |
| 3.60%, 09/15/47 | &nbsp;&nbsp; 33 | 25133 |
| 4.50%, 06/01/52 | &nbsp;&nbsp; 210 | 184498 |
| 5.10%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 305 | 294058 |
| 5.40%, 03/15/54 | &nbsp;&nbsp; 220 | 221517 |
| NSTAR Electric Co. |  |  |
| 3.20%, 05/15/27 | &nbsp;&nbsp; 530 | 512583 |
| 5.40%, 06/01/34 | &nbsp;&nbsp; 225 | 229881 |
| Oklahoma Gas & Electric Co., 5.60%, 04/01/53 | &nbsp;&nbsp; 235 | 236926 |
| Oncor Electric Delivery Co. LLC |  |  |
| 2.75%, 05/15/30 | &nbsp;&nbsp; 239 | 215707 |
| 3.10%, 09/15/49 | &nbsp;&nbsp; 374 | 256610 |
| 3.70%, 11/15/28 | &nbsp;&nbsp; 335 | 324382 |
| 3.75%, 04/01/45 | &nbsp;&nbsp; 458 | 362232 |
| 4.30%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 65 | 64448 |
| 4.55%, 09/15/32 | &nbsp;&nbsp; 325 | 316945 |
| 4.95%, 09/15/52<sup>(a)</sup> | &nbsp;&nbsp; 736 | 684124 |
| 5.55%, 06/15/54<sup>(c)</sup> | &nbsp;&nbsp; 660 | 668064 |
| 5.65%, 11/15/33 | &nbsp;&nbsp; 345 | 361237 |
| PacifiCorp |  |  |
| 2.90%, 06/15/52 | &nbsp;&nbsp; 435 | 267018 |
| 3.30%, 03/15/51 | &nbsp;&nbsp; 230 | 153937 |
| 4.13%, 01/15/49 | &nbsp;&nbsp; 242 | 190652 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 4.15%, 02/15/50 | &nbsp;&nbsp; $249 | $195678 |
| 5.10%, 02/15/29 | &nbsp;&nbsp; 365 | 369170 |
| 5.30%, 02/15/31 | &nbsp;&nbsp; 355 | 359873 |
| 5.35%, 12/01/53 | &nbsp;&nbsp; 495 | 464836 |
| 5.45%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 375 | 377371 |
| 5.50%, 05/15/54 | &nbsp;&nbsp; 460 | 440568 |
| 5.75%, 04/01/37 | &nbsp;&nbsp; 287 | 292194 |
| 5.80%, 01/15/55 | &nbsp;&nbsp; 730 | 729851 |
| 6.00%, 01/15/39 | &nbsp;&nbsp; 240 | 247815 |
| 6.25%, 10/15/37 | &nbsp;&nbsp; 610 | 648461 |
| PECO Energy Co. |  |  |
| 3.90%, 03/01/48 | &nbsp;&nbsp; 342 | 273678 |
| 4.90%, 06/15/33 | &nbsp;&nbsp; 238 | 237112 |
| 5.25%, 09/15/54 | &nbsp;&nbsp; 485 | 475536 |
| Potomac Electric Power Co. |  |  |
| 4.15%, 03/15/43 | &nbsp;&nbsp; 395 | 336731 |
| 6.50%, 11/15/37 | &nbsp;&nbsp; 270 | 302733 |
| PPL Electric Utilities Corp. |  |  |
| 4.85%, 02/15/34 | &nbsp;&nbsp; 260 | 257321 |
| 5.00%, 05/15/33 | &nbsp;&nbsp; 280 | 280537 |
| 5.25%, 05/15/53 | &nbsp;&nbsp; 675 | 663403 |
| Public Service Co. of Colorado |  |  |
| 1.88%, 06/15/31 | &nbsp;&nbsp; 305 | 254156 |
| 3.60%, 09/15/42 | &nbsp;&nbsp; 234 | 183281 |
| 5.25%, 04/01/53 | &nbsp;&nbsp; 370 | 354103 |
| 5.75%, 05/15/54 | &nbsp;&nbsp; 480 | 497475 |
| Series 34, 3.20%, 03/01/50 | &nbsp;&nbsp; 260 | 178801 |
| Public Service Co. of New Hampshire, 5.35%, <br> 10/01/33<br>| &nbsp;&nbsp; 120 | 123548 |
| Public Service Electric & Gas Co. |  |  |
| 3.10%, 03/15/32 | &nbsp;&nbsp; 290 | 259100 |
| 3.80%, 03/01/46 | &nbsp;&nbsp; 368 | 292379 |
| 4.65%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 180 | 176741 |
| 4.85%, 08/01/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197820 |
| 5.20%, 08/01/33 | &nbsp;&nbsp; 85 | 86690 |
| 5.30%, 08/01/54 | &nbsp;&nbsp; 185 | 184819 |
| 5.45%, 03/01/54 | &nbsp;&nbsp; 245 | 248045 |
| Puget Sound Energy Inc., 4.22%, 06/15/48 | &nbsp;&nbsp; 250 | 208209 |
| San Diego Gas & Electric Co. |  |  |
| 2.50%, 05/15/26 | &nbsp;&nbsp; 407 | 395149 |
| 3.70%, 03/15/52 | &nbsp;&nbsp; 295 | 221396 |
| 4.50%, 08/15/40 | &nbsp;&nbsp; 605 | 552672 |
| 4.95%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 320 | 323232 |
| 5.35%, 04/01/53 | &nbsp;&nbsp; 395 | 385696 |
| 5.55%, 04/15/54 | &nbsp;&nbsp; 325 | 327039 |
| Series VVV, 1.70%, 10/01/30 | &nbsp;&nbsp; 441 | 371309 |
| Series WWW, 2.95%, 08/15/51 | &nbsp;&nbsp; 315 | 209788 |
| Series XXX, 3.00%, 03/15/32 | &nbsp;&nbsp; 255 | 226119 |
| Southern California Edison Co. |  |  |
| 2.25%, 06/01/30 | &nbsp;&nbsp; 155 | 135708 |
| 2.75%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 400 | 346418 |
| 2.85%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 302 | 277702 |
| 3.45%, 02/01/52 | &nbsp;&nbsp; 280 | 198550 |
| 3.65%, 02/01/50<sup>(a)</sup> | &nbsp;&nbsp; 547 | 407984 |
| 4.00%, 04/01/47 | &nbsp;&nbsp; 1009 | 804766 |
| 4.40%, 09/06/26 | &nbsp;&nbsp; 210 | 209296 |
| 4.50%, 09/01/40<sup>(a)</sup> | &nbsp;&nbsp; 190 | 169980 |
| 4.65%, 10/01/43 | &nbsp;&nbsp; 729 | 654384 |
| 4.88%, 02/01/27 | &nbsp;&nbsp; 255 | 256939 |
| 5.15%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 495 | 502574 |
| 5.20%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 935 | 938127 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 5.30%, 03/01/28 | &nbsp;&nbsp; $380 | $386750 |
| 5.35%, 03/01/26 | &nbsp;&nbsp; 340 | 343077 |
| 5.45%, 06/01/31 | &nbsp;&nbsp; 1675 | 1715845 |
| 5.50%, 03/15/40 | &nbsp;&nbsp; 229 | 229622 |
| 5.65%, 10/01/28 | &nbsp;&nbsp; 45 | 46403 |
| 5.85%, 11/01/27 | &nbsp;&nbsp; 675 | 697607 |
| 5.88%, 12/01/53<sup>(a)</sup> | &nbsp;&nbsp; 270 | 279473 |
| 5.95%, 11/01/32 | &nbsp;&nbsp; 345 | 365125 |
| 6.00%, 01/15/34 | &nbsp;&nbsp; 190 | 202410 |
| 6.05%, 03/15/39<sup>(a)</sup> | &nbsp;&nbsp; 211 | 222947 |
| Series 08-A, 5.95%, 02/01/38 | &nbsp;&nbsp; 230 | 241046 |
| Series 20A, 2.95%, 02/01/51 | &nbsp;&nbsp; 335 | 218235 |
| Series A, 4.20%, 03/01/29 | &nbsp;&nbsp; 194 | 189595 |
| Series B, 4.88%, 03/01/49 | &nbsp;&nbsp; 225 | 205404 |
| Series C, 4.13%, 03/01/48 | &nbsp;&nbsp; 597 | 484427 |
| Series D, 4.70%, 06/01/27 | &nbsp;&nbsp; 445 | 445648 |
| Southwestern Public Service Co. |  |  |
| 6.00%, 06/01/54 | &nbsp;&nbsp; 600 | 626532 |
| Series 8, 3.15%, 05/01/50 | &nbsp;&nbsp; 310 | 206697 |
| Tampa Electric Co., 4.90%, 03/01/29 | &nbsp;&nbsp; 145 | 144935 |
| Union Electric Co. |  |  |
| 2.15%, 03/15/32 | &nbsp;&nbsp; 225 | 187240 |
| 2.63%, 03/15/51 | &nbsp;&nbsp; 205 | 126932 |
| 3.90%, 04/01/52 | &nbsp;&nbsp; 190 | 149931 |
| 5.20%, 04/01/34 | &nbsp;&nbsp; 435 | 439653 |
| 5.45%, 03/15/53 | &nbsp;&nbsp; 255 | 253978 |
| Virginia Electric & Power Co. |  |  |
| 2.30%, 11/15/31 | &nbsp;&nbsp; 168 | 142118 |
| 2.40%, 03/30/32 | &nbsp;&nbsp; 270 | 228835 |
| 2.45%, 12/15/50 | &nbsp;&nbsp; 548 | 322134 |
| 2.95%, 11/15/51 | &nbsp;&nbsp; 490 | 317470 |
| 3.30%, 12/01/49 | &nbsp;&nbsp; 252 | 178048 |
| 4.00%, 01/15/43 | &nbsp;&nbsp; 585 | 481489 |
| 4.45%, 02/15/44 | &nbsp;&nbsp; 136 | 119352 |
| 4.60%, 12/01/48 | &nbsp;&nbsp; 159 | 138572 |
| 5.00%, 04/01/33 | &nbsp;&nbsp; 400 | 396906 |
| 5.00%, 01/15/34 | &nbsp;&nbsp; 470 | 465833 |
| 5.05%, 08/15/34 | &nbsp;&nbsp; 210 | 208548 |
| 5.35%, 01/15/54 | &nbsp;&nbsp; 175 | 170974 |
| 5.45%, 04/01/53 | &nbsp;&nbsp; 370 | 366776 |
| 5.55%, 08/15/54<sup>(a)</sup> | &nbsp;&nbsp; 240 | 241682 |
| 5.70%, 08/15/53 | &nbsp;&nbsp; 285 | 291838 |
| 8.88%, 11/15/38 | &nbsp;&nbsp; 361 | 477034 |
| Series A, 2.88%, 07/15/29 | &nbsp;&nbsp; 350 | 323007 |
| Series A, 3.15%, 01/15/26 | &nbsp;&nbsp; 360 | 353940 |
| Series A, 3.50%, 03/15/27 | &nbsp;&nbsp; 343 | 334694 |
| Series A, 3.80%, 04/01/28 | &nbsp;&nbsp; 220 | 214325 |
| Series A, 6.00%, 05/15/37 | &nbsp;&nbsp; 187 | 196606 |
| Series B, 3.75%, 05/15/27 | &nbsp;&nbsp; 450 | 441137 |
| Series B, 3.80%, 09/15/47 | &nbsp;&nbsp; 585 | 450805 |
| Series B, 6.00%, 01/15/36 | &nbsp;&nbsp; 265 | 279903 |
| Series C, 4.00%, 11/15/46 | &nbsp;&nbsp; 240 | 191789 |
| Series C, 4.63%, 05/15/52 | &nbsp;&nbsp; 383 | 334654 |
| Series D, 4.65%, 08/15/43 | &nbsp;&nbsp; 275 | 247269 |
| Wisconsin Electric Power Co., 4.75%, 09/30/32<sup>(a)</sup> | &nbsp;&nbsp; 175 | 175088 |
|  |  | 111241094 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Emerson Electric Co. |  |  |
| 0.88%, 10/15/26 | &nbsp;&nbsp; 487 | 456244 |
| 1.80%, 10/15/27 | &nbsp;&nbsp; 322 | 298278 |
| 1.95%, 10/15/30 | &nbsp;&nbsp; 350 | 301289 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** |
| 2.00%, 12/21/28 | &nbsp;&nbsp; $285 | $257684 |
| 2.20%, 12/21/31<sup>(a)</sup> | &nbsp;&nbsp; 595 | 505018 |
| 2.75%, 10/15/50 | &nbsp;&nbsp; 202 | 131601 |
| 2.80%, 12/21/51 | &nbsp;&nbsp; 453 | 292618 |
|  |  | 2242732 |
| **Electronics — 0.6%** | **Electronics — 0.6%** | **Electronics — 0.6%** |
| Honeywell International Inc. |  |  |
| 1.10%, 03/01/27 | &nbsp;&nbsp; 465 | 431653 |
| 1.75%, 09/01/31 | &nbsp;&nbsp; 1185 | 982886 |
| 1.95%, 06/01/30 | &nbsp;&nbsp; 466 | 405466 |
| 2.50%, 11/01/26 | &nbsp;&nbsp; 764 | 737130 |
| 2.70%, 08/15/29 | &nbsp;&nbsp; 380 | 350508 |
| 2.80%, 06/01/50 | &nbsp;&nbsp; 284 | 190228 |
| 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 250 | 248356 |
| 4.50%, 01/15/34 | &nbsp;&nbsp; 845 | 821725 |
| 4.65%, 07/30/27 | &nbsp;&nbsp; 410 | 412313 |
| 4.70%, 02/01/30 | &nbsp;&nbsp; 430 | 431419 |
| 4.75%, 02/01/32 | &nbsp;&nbsp; 400 | 399835 |
| 4.88%, 09/01/29 | &nbsp;&nbsp; 365 | 369365 |
| 4.95%, 02/15/28 | &nbsp;&nbsp; 378 | 385050 |
| 4.95%, 09/01/31 | &nbsp;&nbsp; 260 | 264248 |
| 5.00%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 503 | 509735 |
| 5.00%, 03/01/35 | &nbsp;&nbsp; 605 | 607750 |
| 5.25%, 03/01/54 | &nbsp;&nbsp; 955 | 949055 |
| 5.35%, 03/01/64 | &nbsp;&nbsp; 290 | 288829 |
| Tyco Electronics Group SA |  |  |
| 2.50%, 02/04/32<sup>(a)</sup> | &nbsp;&nbsp; 300 | 258580 |
| 4.50%, 02/13/26 | &nbsp;&nbsp; 325 | 324565 |
|  |  | 9368696 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| Waste Management Inc. |  |  |
| 0.75%, 11/15/25 | &nbsp;&nbsp; 100 | 96100 |
| 1.15%, 03/15/28 | &nbsp;&nbsp; 140 | 125186 |
| 1.50%, 03/15/31 | &nbsp;&nbsp; 577 | 476124 |
| 2.50%, 11/15/50 | &nbsp;&nbsp; 70 | 42674 |
| 3.15%, 11/15/27 | &nbsp;&nbsp; 135 | 129810 |
| 4.15%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 520 | 499188 |
| 4.15%, 07/15/49<sup>(a)</sup> | &nbsp;&nbsp; 430 | 361864 |
| 4.50%, 03/15/28 | &nbsp;&nbsp; 425 | 424277 |
| 4.63%, 02/15/30 | &nbsp;&nbsp; 535 | 533021 |
| 4.63%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 275 | 270926 |
| 4.65%, 03/15/30 | &nbsp;&nbsp; 425 | 423613 |
| 4.80%, 03/15/32 | &nbsp;&nbsp; 425 | 422477 |
| 4.88%, 02/15/29 | &nbsp;&nbsp; 355 | 358867 |
| 4.88%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 705 | 702617 |
| 4.95%, 07/03/27 | &nbsp;&nbsp; 610 | 616374 |
| 4.95%, 07/03/31 | &nbsp;&nbsp; 595 | 600459 |
| 4.95%, 03/15/35 | &nbsp;&nbsp; 625 | 621831 |
| 5.35%, 10/15/54 | &nbsp;&nbsp; 530 | 530190 |
|  |  | 7235598 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| Hershey Co. (The), 2.30%, 08/15/26 | &nbsp;&nbsp; 375 | 361521 |
| Hormel Foods Corp. |  |  |
| 1.70%, 06/03/28 | &nbsp;&nbsp; 550 | 497985 |
| 1.80%, 06/11/30 | &nbsp;&nbsp; 461 | 393679 |
| 3.05%, 06/03/51<sup>(a)</sup> | &nbsp;&nbsp; 275 | 187212 |
| 4.80%, 03/30/27 | &nbsp;&nbsp; 395 | 398103 |
|  |  | 1838500 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| Georgia-Pacific LLC, 7.75%, 11/15/29 | &nbsp;&nbsp; 416 | 472484 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Gas — 0.5%** | **Gas — 0.5%** | **Gas — 0.5%** |
| Atmos Energy Corp. |  |  |
| 1.50%, 01/15/31 | &nbsp;&nbsp; $332 | $275137 |
| 2.63%, 09/15/29 | &nbsp;&nbsp; 295 | 269831 |
| 2.85%, 02/15/52 | &nbsp;&nbsp; 255 | 162422 |
| 3.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 372 | 357698 |
| 3.38%, 09/15/49 | &nbsp;&nbsp; 273 | 198239 |
| 4.13%, 10/15/44 | &nbsp;&nbsp; 424 | 356218 |
| 4.15%, 01/15/43 | &nbsp;&nbsp; 250 | 213323 |
| 4.30%, 10/01/48 | &nbsp;&nbsp; 230 | 196101 |
| 5.00%, 12/15/54 | &nbsp;&nbsp; 310 | 289396 |
| 5.75%, 10/15/52 | &nbsp;&nbsp; 310 | 323457 |
| 5.90%, 11/15/33 | &nbsp;&nbsp; 295 | 314039 |
| 6.20%, 11/15/53 | &nbsp;&nbsp; 310 | 342884 |
| CenterPoint Energy Resources Corp. |  |  |
| 1.75%, 10/01/30 | &nbsp;&nbsp; 475 | 399288 |
| 4.40%, 07/01/32<sup>(a)</sup> | &nbsp;&nbsp; 510 | 492715 |
| 5.25%, 03/01/28 | &nbsp;&nbsp; 430 | 436926 |
| 5.40%, 03/01/33 | &nbsp;&nbsp; 150 | 153084 |
| ONE Gas Inc. |  |  |
| 4.66%, 02/01/44 | &nbsp;&nbsp; 240 | 214730 |
| 5.10%, 04/01/29 | &nbsp;&nbsp; 60 | 61004 |
| Southern California Gas Co. |  |  |
| 2.95%, 04/15/27 | &nbsp;&nbsp; 390 | 375253 |
| 5.05%, 09/01/34 | &nbsp;&nbsp; 280 | 279213 |
| 5.20%, 06/01/33 | &nbsp;&nbsp; 295 | 299074 |
| 5.60%, 04/01/54<sup>(a)</sup> | &nbsp;&nbsp; 342 | 345648 |
| 5.75%, 06/01/53 | &nbsp;&nbsp; 245 | 251899 |
| 6.35%, 11/15/52 | &nbsp;&nbsp; 270 | 301308 |
| Series TT, 2.60%, 06/15/26 | &nbsp;&nbsp; 354 | 343114 |
| Series VV, 4.30%, 01/15/49 | &nbsp;&nbsp; 192 | 160872 |
| Series XX, 2.55%, 02/01/30 | &nbsp;&nbsp; 229 | 205412 |
|  |  | 7618285 |
| **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** |
| Snap-on Inc., 3.10%, 05/01/50 | &nbsp;&nbsp; 298 | 207114 |
| **Health Care - Products — 1.1%** | **Health Care - Products — 1.1%** | **Health Care - Products — 1.1%** |
| Abbott Laboratories |  |  |
| 1.15%, 01/30/28 | &nbsp;&nbsp; 369 | 333498 |
| 1.40%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp; 318 | 270204 |
| 3.75%, 11/30/26 | &nbsp;&nbsp; 1072 | 1060239 |
| 4.75%, 11/30/36 | &nbsp;&nbsp; 1062 | 1042874 |
| 4.75%, 04/15/43<sup>(a)</sup> | &nbsp;&nbsp; 268 | 257363 |
| 4.90%, 11/30/46 | &nbsp;&nbsp; 1371 | 1324484 |
| 5.30%, 05/27/40 | &nbsp;&nbsp; 327 | 335663 |
| 6.00%, 04/01/39 | &nbsp;&nbsp; 295 | 323013 |
| 6.15%, 11/30/37 | &nbsp;&nbsp; 405 | 447904 |
| Danaher Corp. |  |  |
| 2.60%, 10/01/50<sup>(a)</sup> | &nbsp;&nbsp; 410 | 258301 |
| 2.80%, 12/10/51<sup>(a)</sup> | &nbsp;&nbsp; 655 | 423533 |
| 4.38%, 09/15/45<sup>(a)</sup> | &nbsp;&nbsp; 185 | 163449 |
| DH Europe Finance II SARL |  |  |
| 2.60%, 11/15/29 | &nbsp;&nbsp; 615 | 558171 |
| 3.25%, 11/15/39 | &nbsp;&nbsp; 1020 | 810426 |
| 3.40%, 11/15/49 | &nbsp;&nbsp; 335 | 245934 |
| Medtronic Global Holdings SCA |  |  |
| 4.25%, 03/30/28 | &nbsp;&nbsp; 365 | 362896 |
| 4.50%, 03/30/33 | &nbsp;&nbsp; 525 | 512059 |
| Medtronic Inc. |  |  |
| 4.38%, 03/15/35 | &nbsp;&nbsp; 962 | 921288 |
| 4.63%, 03/15/45<sup>(a)</sup> | &nbsp;&nbsp; 812 | 741203 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products (continued)** | **Health Care - Products (continued)** | **Health Care - Products (continued)** |
| Thermo Fisher Scientific Inc. |  |  |
| 1.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; $700 | $630313 |
| 2.00%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 450 | 379150 |
| 2.60%, 10/01/29 | &nbsp;&nbsp; 265 | 241784 |
| 2.80%, 10/15/41 | &nbsp;&nbsp; 611 | 442275 |
| 4.10%, 08/15/47<sup>(a)</sup> | &nbsp;&nbsp; 805 | 677458 |
| 4.80%, 11/21/27<sup>(a)</sup> | &nbsp;&nbsp; 430 | 434966 |
| 4.95%, 08/10/26 | &nbsp;&nbsp; 600 | 605661 |
| 4.95%, 11/21/32 | &nbsp;&nbsp; 640 | 646724 |
| 4.98%, 08/10/30<sup>(a)</sup> | &nbsp;&nbsp; 695 | 704878 |
| 5.00%, 12/05/26<sup>(a)</sup> | &nbsp;&nbsp; 595 | 602024 |
| 5.00%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 775 | 787490 |
| 5.09%, 08/10/33<sup>(a)</sup> | &nbsp;&nbsp; 370 | 374209 |
| 5.20%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp; 320 | 326378 |
| 5.40%, 08/10/43<sup>(a)</sup> | &nbsp;&nbsp; 205 | 207774 |
|  |  | 17453586 |
| **Health Care - Services — 2.8%** | **Health Care - Services — 2.8%** | **Health Care - Services — 2.8%** |
| Ascension Health |  |  |
| 3.95%, 11/15/46 | &nbsp;&nbsp; 517 | 428748 |
| Series B, 2.53%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 347 | 313472 |
| Series B, 3.11%, 11/15/39 | &nbsp;&nbsp; 315 | 247554 |
| Baptist Healthcare System Obligated Group, <br> Series 20B, 3.54%, 08/15/50<br>| &nbsp;&nbsp; 40 | 29260 |
| BayCare Health System Inc., Series 2020, 3.83%, <br> 11/15/50<br>| &nbsp;&nbsp; 169 | 135398 |
| Baylor Scott & White Holdings, Series 2021, <br> 2.84%, 11/15/50<br>| &nbsp;&nbsp; 555 | 368316 |
| Children's Hospital of Philadelphia (The), Series <br> 2020, 2.70%, 07/01/50<br>| &nbsp;&nbsp; 230 | 149411 |
| CommonSpirit Health |  |  |
| 2.78%, 10/01/30 | &nbsp;&nbsp; 195 | 173243 |
| 3.35%, 10/01/29 | &nbsp;&nbsp; 400 | 372204 |
| 3.82%, 10/01/49 | &nbsp;&nbsp; 262 | 202327 |
| 3.91%, 10/01/50 | &nbsp;&nbsp; 240 | 185049 |
| 4.19%, 10/01/49 | &nbsp;&nbsp; 400 | 327348 |
| 4.35%, 11/01/42<sup>(a)</sup> | &nbsp;&nbsp; 350 | 300208 |
| 5.21%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 350 | 351983 |
| 5.32%, 12/01/34 | &nbsp;&nbsp; 250 | 251140 |
| 6.07%, 11/01/27 | &nbsp;&nbsp; 175 | 181196 |
| Cottage Health Obligated Group, Series 2020, <br> 3.30%, 11/01/49<br>| &nbsp;&nbsp; 215 | 156019 |
| Duke University Health System Inc., Series 2017, <br> 3.92%, 06/01/47<br>| &nbsp;&nbsp; 210 | 170608 |
| Hackensack Meridian Health Inc. |  |  |
| Series 2020, 2.68%, 09/01/41 | &nbsp;&nbsp; 180 | 127106 |
| Series 2020, 2.88%, 09/01/50 | &nbsp;&nbsp; 445 | 291185 |
| Hoag Memorial Hospital Presbyterian, 3.80%, <br> 07/15/52<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 157430 |
| Johns Hopkins Health System Corp. (The), 3.84%, <br> 05/15/46<br>| &nbsp;&nbsp; 346 | 281086 |
| Kaiser Foundation Hospitals |  |  |
| 3.15%, 05/01/27 | &nbsp;&nbsp; 77 | 74584 |
| 4.15%, 05/01/47 | &nbsp;&nbsp; 537 | 455706 |
| 4.88%, 04/01/42 | &nbsp;&nbsp; 235 | 223448 |
| Series 2019, 3.27%, 11/01/49 | &nbsp;&nbsp; 615 | 443954 |
| Series 2021, 2.81%, 06/01/41 | &nbsp;&nbsp; 460 | 336067 |
| Series 2021, 3.00%, 06/01/51 | &nbsp;&nbsp; 860 | 585185 |
| Mass General Brigham Inc., Series 2020, 3.34%, <br> 07/01/60<br>| &nbsp;&nbsp; 294 | 201038 |
| Mayo Clinic, Series 2021, 3.20%, 11/15/61 | &nbsp;&nbsp; 200 | 133962 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Memorial Sloan-Kettering Cancer Center, Series <br> 2015, 4.20%, 07/01/55<br>| &nbsp;&nbsp; $155 | $130100 |
| Methodist Hospital (The), Series 20A, 2.71%, <br> 12/01/50<br>| &nbsp;&nbsp; 320 | 207360 |
| New York and Presbyterian Hospital (The) |  |  |
| 4.02%, 08/01/45 | &nbsp;&nbsp; 266 | 224591 |
| Series 2019, 3.95% | &nbsp;&nbsp; 100 | 71828 |
| Northwell Healthcare Inc. |  |  |
| 3.98%, 11/01/46 | &nbsp;&nbsp; 190 | 149405 |
| 4.26%, 11/01/47 | &nbsp;&nbsp; 463 | 380158 |
| Novant Health Inc., 3.17%, 11/01/51 | &nbsp;&nbsp; 251 | 172192 |
| Providence St. Joseph Health Obligated Group |  |  |
| 5.40%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp; 80 | 80608 |
| Series 19A, 2.53%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 426 | 381127 |
| Series 21A, 2.70%, 10/01/51<sup>(a)</sup> | &nbsp;&nbsp; 375 | 226254 |
| SSM Health Care Corp., Series A, 3.82%, <br> 06/01/27<br>| &nbsp;&nbsp; 75 | 73385 |
| Stanford Health Care, Series 2018, 3.80%, <br> 11/15/48<br>| &nbsp;&nbsp; 395 | 318863 |
| Sutter Health |  |  |
| Series 20A, 2.29%, 08/15/30 | &nbsp;&nbsp; 225 | 197018 |
| Series 20A, 3.36%, 08/15/50 | &nbsp;&nbsp; 89 | 64899 |
| Toledo Hospital (The), 5.75%, 11/15/38 | &nbsp;&nbsp; 176 | 177430 |
| UnitedHealth Group Inc. |  |  |
| 3.70%, 05/15/27 | &nbsp;&nbsp; 210 | 206396 |
| 1.15%, 05/15/26 | &nbsp;&nbsp; 610 | 580039 |
| 1.25%, 01/15/26 | &nbsp;&nbsp; 201 | 193318 |
| 2.00%, 05/15/30 | &nbsp;&nbsp; 510 | 441922 |
| 2.30%, 05/15/31 | &nbsp;&nbsp; 772 | 664855 |
| 2.75%, 05/15/40 | &nbsp;&nbsp; 372 | 269396 |
| 2.88%, 08/15/29 | &nbsp;&nbsp; 435 | 402681 |
| 2.90%, 05/15/50 | &nbsp;&nbsp; 620 | 406751 |
| 2.95%, 10/15/27 | &nbsp;&nbsp; 456 | 437813 |
| 3.05%, 05/15/41 | &nbsp;&nbsp; 710 | 530058 |
| 3.10%, 03/15/26 | &nbsp;&nbsp; 546 | 536010 |
| 3.13%, 05/15/60 | &nbsp;&nbsp; 460 | 290298 |
| 3.25%, 05/15/51 | &nbsp;&nbsp; 1257 | 876629 |
| 3.38%, 04/15/27 | &nbsp;&nbsp; 195 | 189921 |
| 3.45%, 01/15/27 | &nbsp;&nbsp; 281 | 275151 |
| 3.50%, 08/15/39 | &nbsp;&nbsp; 705 | 577719 |
| 3.70%, 08/15/49 | &nbsp;&nbsp; 502 | 382282 |
| 3.75%, 10/15/47 | &nbsp;&nbsp; 464 | 358787 |
| 3.85%, 06/15/28 | &nbsp;&nbsp; 552 | 539164 |
| 3.88%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 379 | 369310 |
| 3.88%, 08/15/59 | &nbsp;&nbsp; 720 | 534927 |
| 3.95%, 10/15/42 | &nbsp;&nbsp; 263 | 218741 |
| 4.00%, 05/15/29 | &nbsp;&nbsp; 510 | 497331 |
| 4.20%, 05/15/32 | &nbsp;&nbsp; 1095 | 1051211 |
| 4.20%, 01/15/47 | &nbsp;&nbsp; 342 | 287396 |
| 4.25%, 01/15/29 | &nbsp;&nbsp; 515 | 507724 |
| 4.25%, 03/15/43 | &nbsp;&nbsp; 420 | 367757 |
| 4.25%, 04/15/47 | &nbsp;&nbsp; 288 | 240972 |
| 4.25%, 06/15/48 | &nbsp;&nbsp; 560 | 468895 |
| 4.38%, 03/15/42 | &nbsp;&nbsp; 410 | 363766 |
| 4.45%, 12/15/48 | &nbsp;&nbsp; 723 | 622134 |
| 4.50%, 04/15/33 | &nbsp;&nbsp; 700 | 676880 |
| 4.60%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 201333 |
| 4.63%, 07/15/35 | &nbsp;&nbsp; 497 | 481993 |
| 4.63%, 11/15/41 | &nbsp;&nbsp; 414 | 380249 |
| 4.75%, 07/15/26 | &nbsp;&nbsp; 360 | 362276 |
| 4.75%, 07/15/45 | &nbsp;&nbsp; 830 | 761715 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| 4.75%, 05/15/52 | &nbsp;&nbsp; $875 | $789745 |
| 4.80%, 01/15/30 | &nbsp;&nbsp; 1000 | 1003817 |
| 4.90%, 04/15/31 | &nbsp;&nbsp; 510 | 512640 |
| 4.95%, 01/15/32 | &nbsp;&nbsp; 815 | 815939 |
| 4.95%, 05/15/62 | &nbsp;&nbsp; 525 | 475617 |
| 5.00%, 04/15/34 | &nbsp;&nbsp; 765 | 761582 |
| 5.05%, 04/15/53 | &nbsp;&nbsp; 1240 | 1164158 |
| 5.15%, 07/15/34 | &nbsp;&nbsp; 1225 | 1234483 |
| 5.20%, 04/15/63 | &nbsp;&nbsp; 1010 | 944606 |
| 5.25%, 02/15/28 | &nbsp;&nbsp; 460 | 470066 |
| 5.30%, 02/15/30 | &nbsp;&nbsp; 705 | 723058 |
| 5.35%, 02/15/33 | &nbsp;&nbsp; 875 | 898541 |
| 5.38%, 04/15/54 | &nbsp;&nbsp; 940 | 920128 |
| 5.50%, 07/15/44 | &nbsp;&nbsp; 900 | 907785 |
| 5.50%, 04/15/64 | &nbsp;&nbsp; 590 | 579999 |
| 5.63%, 07/15/54 | &nbsp;&nbsp; 1365 | 1389796 |
| 5.75%, 07/15/64 | &nbsp;&nbsp; 1020 | 1039323 |
| 5.80%, 03/15/36 | &nbsp;&nbsp; 590 | 621293 |
| 5.88%, 02/15/53 | &nbsp;&nbsp; 955 | 998881 |
| 6.05%, 02/15/63 | &nbsp;&nbsp; 765 | 810630 |
| 6.50%, 06/15/37 | &nbsp;&nbsp; 217 | 240943 |
| 6.63%, 11/15/37 | &nbsp;&nbsp; 314 | 353903 |
| 6.88%, 02/15/38 | &nbsp;&nbsp; 560 | 648279 |
| UPMC, 5.04%, 05/15/33 | &nbsp;&nbsp; 315 | 313113 |
|  |  | 45681578 |
| **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** |
| Kimberly-Clark Corp. |  |  |
| 1.05%, 09/15/27 | &nbsp;&nbsp; 420 | 382196 |
| 2.00%, 11/02/31<sup>(a)</sup> | &nbsp;&nbsp; 540 | 457989 |
| 2.88%, 02/07/50<sup>(a)</sup> | &nbsp;&nbsp; 236 | 160092 |
| 3.10%, 03/26/30 | &nbsp;&nbsp; 565 | 524659 |
| 3.20%, 04/25/29 | &nbsp;&nbsp; 295 | 279682 |
| 3.20%, 07/30/46 | &nbsp;&nbsp; 199 | 144057 |
| 3.95%, 11/01/28 | &nbsp;&nbsp; 305 | 299141 |
| 6.63%, 08/01/37 | &nbsp;&nbsp; 291 | 333836 |
|  |  | 2581652 |
| **Insurance — 2.6%** | **Insurance — 2.6%** | **Insurance — 2.6%** |
| Aflac Inc. |  |  |
| 3.60%, 04/01/30 | &nbsp;&nbsp; 358 | 338433 |
| 4.75%, 01/15/49 | &nbsp;&nbsp; 443 | 396931 |
| Alleghany Corp. |  |  |
| 3.25%, 08/15/51 | &nbsp;&nbsp; 225 | 155774 |
| 3.63%, 05/15/30 | &nbsp;&nbsp; 260 | 245772 |
| AXA SA, 8.60%, 12/15/30 | &nbsp;&nbsp; 145 | 174717 |
| Berkshire Hathaway Finance Corp. |  |  |
| 1.45%, 10/15/30 | &nbsp;&nbsp; 427 | 357126 |
| 1.85%, 03/12/30 | &nbsp;&nbsp; 400 | 348832 |
| 2.30%, 03/15/27 | &nbsp;&nbsp; 300 | 287145 |
| 2.50%, 01/15/51 | &nbsp;&nbsp; 460 | 282336 |
| 2.85%, 10/15/50 | &nbsp;&nbsp; 795 | 520092 |
| 2.88%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 735 | 655091 |
| 3.85%, 03/15/52 | &nbsp;&nbsp; 1485 | 1173008 |
| 4.20%, 08/15/48 | &nbsp;&nbsp; 1301 | 1119606 |
| 4.25%, 01/15/49 | &nbsp;&nbsp; 1042 | 908719 |
| 4.30%, 05/15/43 | &nbsp;&nbsp; 213 | 190055 |
| 4.40%, 05/15/42<sup>(a)</sup> | &nbsp;&nbsp; 510 | 470672 |
| 5.75%, 01/15/40<sup>(a)</sup> | &nbsp;&nbsp; 392 | 421232 |
| Berkshire Hathaway Inc. |  |  |
| 3.13%, 03/15/26 | &nbsp;&nbsp; 1103 | 1083494 |
| 4.50%, 02/11/43<sup>(a)</sup> | &nbsp;&nbsp; 612 | 572537 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Chubb Corp. (The) |  |  |
| 6.00%, 05/11/37<sup>(a)</sup> | &nbsp;&nbsp; $403 | $432894 |
| Series 1, 6.50%, 05/15/38 | &nbsp;&nbsp; 355 | 397766 |
| Chubb INA Holdings LLC |  |  |
| 1.38%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 425 | 354196 |
| 2.85%, 12/15/51 | &nbsp;&nbsp; 405 | 266932 |
| 3.05%, 12/15/61 | &nbsp;&nbsp; 510 | 325586 |
| 3.35%, 05/03/26 | &nbsp;&nbsp; 1235 | 1213482 |
| 4.35%, 11/03/45 | &nbsp;&nbsp; 810 | 705969 |
| 4.65%, 08/15/29 | &nbsp;&nbsp; 430 | 430158 |
| 5.00%, 03/15/34 | &nbsp;&nbsp; 595 | 595050 |
| Loews Corp. |  |  |
| 3.20%, 05/15/30 | &nbsp;&nbsp; 183 | 168351 |
| 3.75%, 04/01/26 | &nbsp;&nbsp; 370 | 365545 |
| 4.13%, 05/15/43<sup>(a)</sup> | &nbsp;&nbsp; 231 | 197770 |
| Manulife Financial Corp. |  |  |
| 2.48%, 05/19/27 | &nbsp;&nbsp; 244 | 231536 |
| 3.70%, 03/16/32 | &nbsp;&nbsp; 530 | 490154 |
| 4.06%, 02/24/32, <br> (5-year USD ICE Swap + 1.647%)<sup>(b)</sup><br>| &nbsp;&nbsp; 20 | 19501 |
| 4.15%, 03/04/26 | &nbsp;&nbsp; 549 | 544553 |
| 5.38%, 03/04/46 | &nbsp;&nbsp; 502 | 494684 |
| Marsh & McLennan Companies Inc. |  |  |
| 2.25%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 415 | 360320 |
| 3.75%, 03/14/26 | &nbsp;&nbsp; 399 | 394578 |
| 4.20%, 03/01/48 | &nbsp;&nbsp; 355 | 295064 |
| 4.35%, 01/30/47 | &nbsp;&nbsp; 213 | 181342 |
| 4.38%, 03/15/29 | &nbsp;&nbsp; 1129 | 1115191 |
| 4.55%, 11/08/27 | &nbsp;&nbsp; 355 | 355071 |
| 4.65%, 03/15/30 | &nbsp;&nbsp; 750 | 748047 |
| 4.75%, 03/15/39 | &nbsp;&nbsp; 244 | 231031 |
| 4.85%, 11/15/31 | &nbsp;&nbsp; 750 | 748075 |
| 4.90%, 03/15/49 | &nbsp;&nbsp; 498 | 460502 |
| 5.00%, 03/15/35 | &nbsp;&nbsp; 1205 | 1200581 |
| 5.15%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 155 | 156786 |
| 5.35%, 11/15/44 | &nbsp;&nbsp; 200 | 199648 |
| 5.40%, 09/15/33 | &nbsp;&nbsp; 260 | 268193 |
| 5.40%, 03/15/55 | &nbsp;&nbsp; 875 | 869181 |
| 5.45%, 03/15/53 | &nbsp;&nbsp; 225 | 223889 |
| 5.45%, 03/15/54 | &nbsp;&nbsp; 155 | 154355 |
| 5.70%, 09/15/53 | &nbsp;&nbsp; 360 | 370699 |
| 5.75%, 11/01/32 | &nbsp;&nbsp; 110 | 116138 |
| 6.25%, 11/01/52 | &nbsp;&nbsp; 240 | 265540 |
| MetLife Inc. |  |  |
| 3.60%, 11/13/25 | &nbsp;&nbsp; 252 | 249512 |
| 4.05%, 03/01/45 | &nbsp;&nbsp; 424 | 351523 |
| 4.13%, 08/13/42 | &nbsp;&nbsp; 475 | 404760 |
| 4.55%, 03/23/30<sup>(a)</sup> | &nbsp;&nbsp; 555 | 551263 |
| 4.60%, 05/13/46 | &nbsp;&nbsp; 700 | 628136 |
| 4.88%, 11/13/43 | &nbsp;&nbsp; 405 | 378060 |
| 5.00%, 07/15/52 | &nbsp;&nbsp; 410 | 383638 |
| 5.25%, 01/15/54 | &nbsp;&nbsp; 550 | 537102 |
| 5.30%, 12/15/34<sup>(a)</sup> | &nbsp;&nbsp; 540 | 546595 |
| 5.38%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp; 360 | 369641 |
| 5.70%, 06/15/35 | &nbsp;&nbsp; 411 | 430370 |
| 5.88%, 02/06/41 | &nbsp;&nbsp; 450 | 469959 |
| 6.38%, 06/15/34 | &nbsp;&nbsp; 449 | 491129 |
| 6.50%, 12/15/32<sup>(a)</sup> | &nbsp;&nbsp; 221 | 245112 |
| PartnerRe Finance B LLC, 3.70%, 07/02/29 | &nbsp;&nbsp; 305 | 289523 |
| Principal Financial Group Inc. |  |  |
| 2.13%, 06/15/30 | &nbsp;&nbsp; 356 | 307575 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| 3.70%, 05/15/29 | &nbsp;&nbsp; $495 | $472910 |
| 6.05%, 10/15/36 | &nbsp;&nbsp; 215 | 227421 |
| Progressive Corp. (The) |  |  |
| 2.45%, 01/15/27 | &nbsp;&nbsp; 221 | 211714 |
| 2.50%, 03/15/27 | &nbsp;&nbsp; 240 | 229317 |
| 3.00%, 03/15/32 | &nbsp;&nbsp; 240 | 213108 |
| 3.20%, 03/26/30 | &nbsp;&nbsp; 374 | 346644 |
| 3.70%, 03/15/52 | &nbsp;&nbsp; 200 | 151580 |
| 3.95%, 03/26/50 | &nbsp;&nbsp; 238 | 191107 |
| 4.00%, 03/01/29 | &nbsp;&nbsp; 190 | 185930 |
| 4.13%, 04/15/47 | &nbsp;&nbsp; 408 | 339639 |
| 4.20%, 03/15/48 | &nbsp;&nbsp; 300 | 252808 |
| 4.95%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp; 280 | 281196 |
| Prudential Financial Inc. |  |  |
| 1.50%, 03/10/26<sup>(a)</sup> | &nbsp;&nbsp; 335 | 321621 |
| 2.10%, 03/10/30<sup>(a)</sup> | &nbsp;&nbsp; 257 | 226986 |
| 3.00%, 03/10/40 | &nbsp;&nbsp; 401 | 304291 |
| 3.70%, 03/13/51<sup>(a)</sup> | &nbsp;&nbsp; 827 | 625023 |
| 3.91%, 12/07/47 | &nbsp;&nbsp; 453 | 356997 |
| 3.94%, 12/07/49 | &nbsp;&nbsp; 518 | 406302 |
| 4.35%, 02/25/50 | &nbsp;&nbsp; 368 | 310033 |
| 4.60%, 05/15/44<sup>(a)</sup> | &nbsp;&nbsp; 578 | 521776 |
| 5.70%, 12/14/36 | &nbsp;&nbsp; 200 | 209419 |
| Prudential Funding Asia PLC, 3.13%, 04/14/30<sup>(a)</sup> | &nbsp;&nbsp; 650 | 600168 |
| RenaissanceRe Holdings Ltd., 5.75%, 06/05/33 | &nbsp;&nbsp; 685 | 694442 |
| Travelers Companies Inc. (The) |  |  |
| 2.55%, 04/27/50 | &nbsp;&nbsp; 225 | 138222 |
| 3.05%, 06/08/51 | &nbsp;&nbsp; 365 | 249017 |
| 3.75%, 05/15/46 | &nbsp;&nbsp; 313 | 247032 |
| 4.00%, 05/30/47 | &nbsp;&nbsp; 330 | 270520 |
| 4.05%, 03/07/48 | &nbsp;&nbsp; 279 | 231574 |
| 4.10%, 03/04/49 | &nbsp;&nbsp; 180 | 148394 |
| 4.60%, 08/01/43 | &nbsp;&nbsp; 225 | 203538 |
| 5.35%, 11/01/40 | &nbsp;&nbsp; 355 | 355422 |
| 5.45%, 05/25/53 | &nbsp;&nbsp; 510 | 519139 |
| 6.25%, 06/15/37 | &nbsp;&nbsp; 534 | 584841 |
| Travelers Property Casualty Corp., 6.38%, <br> 03/15/33<sup>(a)</sup><br>| &nbsp;&nbsp; 428 | 478669 |
|  |  | 43390628 |
| **Internet — 3.1%** | **Internet — 3.1%** | **Internet — 3.1%** |
| Alibaba Group Holding Ltd. |  |  |
| 2.13%, 02/09/31<sup>(a)</sup> | &nbsp;&nbsp; 735 | 628365 |
| 2.70%, 02/09/41 | &nbsp;&nbsp; 505 | 361498 |
| 3.15%, 02/09/51 | &nbsp;&nbsp; 725 | 497446 |
| 3.25%, 02/09/61 | &nbsp;&nbsp; 570 | 375109 |
| 3.40%, 12/06/27<sup>(a)</sup> | &nbsp;&nbsp; 1270 | 1224142 |
| 4.00%, 12/06/37 | &nbsp;&nbsp; 340 | 299808 |
| 4.20%, 12/06/47<sup>(a)</sup> | &nbsp;&nbsp; 880 | 744288 |
| 4.40%, 12/06/57<sup>(a)</sup> | &nbsp;&nbsp; 410 | 347239 |
| 4.50%, 11/28/34 | &nbsp;&nbsp; 265 | 252066 |
| Alphabet Inc. |  |  |
| 0.80%, 08/15/27 | &nbsp;&nbsp; 650 | 593526 |
| 1.10%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1362 | 1135289 |
| 1.90%, 08/15/40 | &nbsp;&nbsp; 574 | 386619 |
| 2.00%, 08/15/26 | &nbsp;&nbsp; 1417 | 1361154 |
| 2.05%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; 1092 | 641306 |
| 2.25%, 08/15/60<sup>(a)</sup> | &nbsp;&nbsp; 875 | 501673 |
| Amazon.com Inc. |  |  |
| 1.00%, 05/12/26 | &nbsp;&nbsp; 1530 | 1455711 |
| 1.20%, 06/03/27 | &nbsp;&nbsp; 587 | 542318 |
| 1.50%, 06/03/30 | &nbsp;&nbsp; 1326 | 1128714 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| 1.65%, 05/12/28 | &nbsp;&nbsp; $907 | $825750 |
| 2.10%, 05/12/31 | &nbsp;&nbsp; 1622 | 1394046 |
| 2.50%, 06/03/50 | &nbsp;&nbsp; 1821 | 1132180 |
| 2.70%, 06/03/60 | &nbsp;&nbsp; 1171 | 706667 |
| 2.88%, 05/12/41 | &nbsp;&nbsp; 962 | 724649 |
| 3.10%, 05/12/51 | &nbsp;&nbsp; 1525 | 1070564 |
| 3.15%, 08/22/27 | &nbsp;&nbsp; 1927 | 1865664 |
| 3.25%, 05/12/61 | &nbsp;&nbsp; 745 | 504793 |
| 3.30%, 04/13/27 | &nbsp;&nbsp; 1175 | 1146479 |
| 3.45%, 04/13/29<sup>(a)</sup> | &nbsp;&nbsp; 670 | 644858 |
| 3.60%, 04/13/32 | &nbsp;&nbsp; 1150 | 1075843 |
| 3.88%, 08/22/37 | &nbsp;&nbsp; 1064 | 955206 |
| 3.95%, 04/13/52 | &nbsp;&nbsp; 1145 | 939822 |
| 4.05%, 08/22/47 | &nbsp;&nbsp; 1592 | 1353076 |
| 4.10%, 04/13/62<sup>(a)</sup> | &nbsp;&nbsp; 520 | 423628 |
| 4.25%, 08/22/57 | &nbsp;&nbsp; 1197 | 1019280 |
| 4.55%, 12/01/27 | &nbsp;&nbsp; 1195 | 1201005 |
| 4.60%, 12/01/25 | &nbsp;&nbsp; 335 | 335673 |
| 4.65%, 12/01/29 | &nbsp;&nbsp; 785 | 792254 |
| 4.70%, 12/01/32 | &nbsp;&nbsp; 1070 | 1073471 |
| 4.80%, 12/05/34<sup>(a)</sup> | &nbsp;&nbsp; 589 | 592730 |
| 4.95%, 12/05/44 | &nbsp;&nbsp; 1064 | 1044714 |
| 5.20%, 12/03/25 | &nbsp;&nbsp; 491 | 494323 |
| Baidu Inc. |  |  |
| 1.72%, 04/09/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 191551 |
| 2.38%, 08/23/31 | &nbsp;&nbsp; 220 | 188526 |
| 3.63%, 07/06/27 | &nbsp;&nbsp; 215 | 209466 |
| 4.38%, 03/29/28 | &nbsp;&nbsp; 35 | 34553 |
| Booking Holdings Inc. |  |  |
| 3.55%, 03/15/28 | &nbsp;&nbsp; 175 | 169595 |
| 3.60%, 06/01/26 | &nbsp;&nbsp; 607 | 598667 |
| 4.63%, 04/13/30<sup>(a)</sup> | &nbsp;&nbsp; 973 | 969643 |
| Meta Platforms Inc. |  |  |
| 3.50%, 08/15/27 | &nbsp;&nbsp; 1400 | 1369195 |
| 3.85%, 08/15/32 | &nbsp;&nbsp; 1300 | 1224703 |
| 4.30%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 440 | 436678 |
| 4.45%, 08/15/52 | &nbsp;&nbsp; 1270 | 1114635 |
| 4.55%, 08/15/31 | &nbsp;&nbsp; 445 | 441593 |
| 4.60%, 05/15/28 | &nbsp;&nbsp; 1265 | 1273378 |
| 4.65%, 08/15/62 | &nbsp;&nbsp; 780 | 691321 |
| 4.75%, 08/15/34 | &nbsp;&nbsp; 1065 | 1052989 |
| 4.80%, 05/15/30 | &nbsp;&nbsp; 730 | 739189 |
| 4.95%, 05/15/33 | &nbsp;&nbsp; 725 | 736932 |
| 5.40%, 08/15/54 | &nbsp;&nbsp; 1615 | 1620374 |
| 5.55%, 08/15/64 | &nbsp;&nbsp; 1573 | 1592406 |
| 5.60%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 1335 | 1385437 |
| 5.75%, 05/15/63 | &nbsp;&nbsp; 1000 | 1041683 |
| Tencent Music Entertainment Group, 2.00%, <br> 09/03/30<br>| &nbsp;&nbsp; 230 | 195188 |
|  |  | 51070648 |
| **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** |
| Nucor Corp. |  |  |
| 2.70%, 06/01/30 | &nbsp;&nbsp; 290 | 260890 |
| 3.13%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 270 | 239796 |
| 3.85%, 04/01/52<sup>(a)</sup> | &nbsp;&nbsp; 325 | 251860 |
| 3.95%, 05/01/28 | &nbsp;&nbsp; 210 | 205343 |
| 4.30%, 05/23/27 | &nbsp;&nbsp; 375 | 373465 |
| 6.40%, 12/01/37 | &nbsp;&nbsp; 115 | 126950 |
|  |  | 1458304 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery — 1.5%** | **Machinery — 1.5%** | **Machinery — 1.5%** |
| ABB Finance USA Inc., 4.38%, 05/08/42 | &nbsp;&nbsp; $460 | $415683 |
| Caterpillar Financial Services Corp. |  |  |
| 0.80%, 11/13/25 | &nbsp;&nbsp; 270 | 260087 |
| 0.90%, 03/02/26<sup>(a)</sup> | &nbsp;&nbsp; 445 | 425180 |
| 1.10%, 09/14/27 | &nbsp;&nbsp; 509 | 465349 |
| 1.15%, 09/14/26<sup>(a)</sup> | &nbsp;&nbsp; 270 | 254726 |
| 1.70%, 01/08/27 | &nbsp;&nbsp; 180 | 169877 |
| 3.60%, 08/12/27 | &nbsp;&nbsp; 455 | 446523 |
| 4.35%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 600 | 600112 |
| 4.38%, 08/16/29<sup>(a)</sup> | &nbsp;&nbsp; 375 | 371519 |
| 4.40%, 10/15/27 | &nbsp;&nbsp; 305 | 304742 |
| 4.45%, 10/16/26 | &nbsp;&nbsp; 385 | 385365 |
| 4.50%, 01/08/27<sup>(a)</sup> | &nbsp;&nbsp; 250 | 250729 |
| 4.80%, 01/06/26 | &nbsp;&nbsp; 210 | 210868 |
| 4.85%, 02/27/29<sup>(a)</sup> | &nbsp;&nbsp; 235 | 238011 |
| 5.00%, 05/14/27 | &nbsp;&nbsp; 295 | 299143 |
| 5.05%, 02/27/26<sup>(a)</sup> | &nbsp;&nbsp; 360 | 363063 |
| Caterpillar Inc. |  |  |
| 1.90%, 03/12/31<sup>(a)</sup> | &nbsp;&nbsp; 150 | 128912 |
| 2.60%, 09/19/29 | &nbsp;&nbsp; 356 | 325749 |
| 2.60%, 04/09/30 | &nbsp;&nbsp; 306 | 276899 |
| 3.25%, 09/19/49 | &nbsp;&nbsp; 530 | 384650 |
| 3.25%, 04/09/50 | &nbsp;&nbsp; 629 | 456672 |
| 3.80%, 08/15/42 | &nbsp;&nbsp; 882 | 735436 |
| 4.30%, 05/15/44 | &nbsp;&nbsp; 339 | 299319 |
| 4.75%, 05/15/64 | &nbsp;&nbsp; 327 | 295115 |
| 5.20%, 05/27/41 | &nbsp;&nbsp; 444 | 443039 |
| Deere & Co. |  |  |
| 2.88%, 09/07/49 | &nbsp;&nbsp; 140 | 95873 |
| 3.10%, 04/15/30 | &nbsp;&nbsp; 438 | 405085 |
| 3.75%, 04/15/50<sup>(a)</sup> | &nbsp;&nbsp; 474 | 381518 |
| 3.90%, 06/09/42<sup>(a)</sup> | &nbsp;&nbsp; 431 | 367565 |
| 5.38%, 10/16/29 | &nbsp;&nbsp; 186 | 193178 |
| John Deere Capital Corp. |  |  |
| 0.70%, 01/15/26 | &nbsp;&nbsp; 350 | 334717 |
| 1.05%, 06/17/26 | &nbsp;&nbsp; 565 | 535437 |
| 1.45%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 815 | 678840 |
| 1.50%, 03/06/28 | &nbsp;&nbsp; 235 | 213033 |
| 1.70%, 01/11/27 | &nbsp;&nbsp; 275 | 259419 |
| 1.75%, 03/09/27 | &nbsp;&nbsp; 320 | 301026 |
| 2.00%, 06/17/31 | &nbsp;&nbsp; 330 | 279875 |
| 2.35%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 140 | 133447 |
| 2.45%, 01/09/30 | &nbsp;&nbsp; 255 | 229604 |
| 2.65%, 06/10/26 | &nbsp;&nbsp; 410 | 398992 |
| 2.80%, 09/08/27 | &nbsp;&nbsp; 543 | 519028 |
| 2.80%, 07/18/29<sup>(a)</sup> | &nbsp;&nbsp; 270 | 250001 |
| 3.35%, 04/18/29 | &nbsp;&nbsp; 178 | 169733 |
| 3.45%, 03/07/29 | &nbsp;&nbsp; 276 | 263678 |
| 3.90%, 06/07/32 | &nbsp;&nbsp; 475 | 447544 |
| 4.15%, 09/15/27 | &nbsp;&nbsp; 530 | 526821 |
| 4.20%, 07/15/27 | &nbsp;&nbsp; 285 | 283273 |
| 4.35%, 09/15/32 | &nbsp;&nbsp; 470 | 457914 |
| 4.40%, 09/08/31 | &nbsp;&nbsp; 660 | 644294 |
| 4.50%, 01/08/27<sup>(a)</sup> | &nbsp;&nbsp; 220 | 220492 |
| 4.50%, 01/16/29 | &nbsp;&nbsp; 290 | 289322 |
| 4.70%, 06/10/30 | &nbsp;&nbsp; 265 | 265395 |
| 4.75%, 06/08/26 | &nbsp;&nbsp; 740 | 743791 |
| 4.75%, 01/20/28<sup>(a)</sup> | &nbsp;&nbsp; 385 | 388249 |
| 4.80%, 01/09/26 | &nbsp;&nbsp; 380 | 381700 |
| 4.85%, 03/05/27<sup>(a)</sup> | &nbsp;&nbsp; 165 | 166646 |
| 4.85%, 06/11/29 | &nbsp;&nbsp; 820 | 827801 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| 4.90%, 06/11/27 | &nbsp;&nbsp; $385 | $389132 |
| 4.90%, 03/03/28 | &nbsp;&nbsp; 65 | 65715 |
| 4.90%, 03/07/31 | &nbsp;&nbsp; 280 | 281578 |
| 4.95%, 07/14/28 | &nbsp;&nbsp; 700 | 709349 |
| 5.05%, 03/03/26<sup>(a)</sup> | &nbsp;&nbsp; 180 | 181394 |
| 5.10%, 04/11/34 | &nbsp;&nbsp; 720 | 729198 |
| 5.15%, 09/08/26 | &nbsp;&nbsp; 360 | 365301 |
| 5.15%, 09/08/33<sup>(a)</sup> | &nbsp;&nbsp; 405 | 412696 |
| Series 1, 5.05%, 06/12/34<sup>(a)</sup> | &nbsp;&nbsp; 700 | 707013 |
| Rockwell Automation Inc., 4.20%, 03/01/49 | &nbsp;&nbsp; 445 | 378953 |
|  |  | 24680388 |
| **Manufacturing — 0.4%** | **Manufacturing — 0.4%** | **Manufacturing — 0.4%** |
| 3M Co. |  |  |
| 2.25%, 09/19/26<sup>(a)</sup> | &nbsp;&nbsp; 245 | 234488 |
| 2.38%, 08/26/29 | &nbsp;&nbsp; 730 | 656001 |
| 2.88%, 10/15/27 | &nbsp;&nbsp; 450 | 428952 |
| 3.05%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 135 | 124287 |
| 3.13%, 09/19/46 | &nbsp;&nbsp; 55 | 39159 |
| 3.25%, 08/26/49<sup>(a)</sup> | &nbsp;&nbsp; 410 | 290216 |
| 3.38%, 03/01/29 | &nbsp;&nbsp; 345 | 326599 |
| 3.63%, 09/14/28<sup>(a)</sup> | &nbsp;&nbsp; 270 | 260778 |
| 3.63%, 10/15/47<sup>(a)</sup> | &nbsp;&nbsp; 415 | 313069 |
| 3.70%, 04/15/50 | &nbsp;&nbsp; 215 | 165346 |
| 4.00%, 09/14/48<sup>(a)</sup> | &nbsp;&nbsp; 285 | 237336 |
| 5.70%, 03/15/37<sup>(a)</sup> | &nbsp;&nbsp; 500 | 528860 |
| Eaton Corp. |  |  |
| 3.10%, 09/15/27 | &nbsp;&nbsp; 280 | 269889 |
| 4.00%, 11/02/32 | &nbsp;&nbsp; 315 | 299639 |
| 4.15%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 715 | 683595 |
| 4.15%, 11/02/42 | &nbsp;&nbsp; 190 | 164308 |
| 4.35%, 05/18/28 | &nbsp;&nbsp; 155 | 154239 |
| 4.70%, 08/23/52 | &nbsp;&nbsp; 480 | 440701 |
| Illinois Tool Works Inc. |  |  |
| 2.65%, 11/15/26 | &nbsp;&nbsp; 695 | 672187 |
| 3.90%, 09/01/42 | &nbsp;&nbsp; 725 | 608587 |
| 4.88%, 09/15/41 | &nbsp;&nbsp; 180 | 172645 |
|  |  | 7070881 |
| **Media — 3.1%** | **Media — 3.1%** | **Media — 3.1%** |
| Comcast Corp. |  |  |
| 1.50%, 02/15/31 | &nbsp;&nbsp; 890 | 729893 |
| 1.95%, 01/15/31 | &nbsp;&nbsp; 605 | 511831 |
| 2.35%, 01/15/27 | &nbsp;&nbsp; 1309 | 1248559 |
| 2.45%, 08/15/52 | &nbsp;&nbsp; 606 | 347662 |
| 2.65%, 02/01/30 | &nbsp;&nbsp; 1015 | 915211 |
| 2.65%, 08/15/62 | &nbsp;&nbsp; 455 | 252638 |
| 2.80%, 01/15/51 | &nbsp;&nbsp; 796 | 498983 |
| 2.89%, 11/01/51 | &nbsp;&nbsp; 2645 | 1678674 |
| 2.94%, 11/01/56 | &nbsp;&nbsp; 2813 | 1732661 |
| 2.99%, 11/01/63 | &nbsp;&nbsp; 1777 | 1061960 |
| 3.15%, 03/01/26 | &nbsp;&nbsp; 894 | 877517 |
| 3.15%, 02/15/28 | &nbsp;&nbsp; 890 | 850160 |
| 3.20%, 07/15/36 | &nbsp;&nbsp; 968 | 797122 |
| 3.25%, 11/01/39 | &nbsp;&nbsp; 940 | 730465 |
| 3.30%, 02/01/27 | &nbsp;&nbsp; 1082 | 1054492 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 909 | 884556 |
| 3.40%, 04/01/30 | &nbsp;&nbsp; 934 | 871942 |
| 3.40%, 07/15/46 | &nbsp;&nbsp; 797 | 583356 |
| 3.45%, 02/01/50 | &nbsp;&nbsp; 753 | 540893 |
| 3.55%, 05/01/28 | &nbsp;&nbsp; 645 | 622323 |
| 3.75%, 04/01/40 | &nbsp;&nbsp; 974 | 804267 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| 3.90%, 03/01/38 | &nbsp;&nbsp; $1216 | $1049010 |
| 3.97%, 11/01/47 | &nbsp;&nbsp; 942 | 745058 |
| 4.00%, 08/15/47 | &nbsp;&nbsp; 371 | 296403 |
| 4.00%, 03/01/48 | &nbsp;&nbsp; 364 | 290093 |
| 4.00%, 11/01/49 | &nbsp;&nbsp; 815 | 645463 |
| 4.05%, 11/01/52 | &nbsp;&nbsp; 818 | 643559 |
| 4.15%, 10/15/28 | &nbsp;&nbsp; 3063 | 3007133 |
| 4.20%, 08/15/34 | &nbsp;&nbsp; 608 | 568471 |
| 4.25%, 10/15/30 | &nbsp;&nbsp; 829 | 806386 |
| 4.25%, 01/15/33 | &nbsp;&nbsp; 945 | 898084 |
| 4.40%, 08/15/35 | &nbsp;&nbsp; 363 | 339906 |
| 4.55%, 01/15/29 | &nbsp;&nbsp; 540 | 537962 |
| 4.60%, 10/15/38 | &nbsp;&nbsp; 1326 | 1226149 |
| 4.60%, 08/15/45 | &nbsp;&nbsp; 287 | 254471 |
| 4.65%, 02/15/33 | &nbsp;&nbsp; 510 | 501954 |
| 4.65%, 07/15/42 | &nbsp;&nbsp; 279 | 252004 |
| 4.70%, 10/15/48 | &nbsp;&nbsp; 718 | 646512 |
| 4.80%, 05/15/33 | &nbsp;&nbsp; 580 | 572850 |
| 4.95%, 10/15/58 | &nbsp;&nbsp; 433 | 392616 |
| 5.10%, 06/01/29 | &nbsp;&nbsp; 505 | 513228 |
| 5.30%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 625 | 635853 |
| 5.35%, 11/15/27 | &nbsp;&nbsp; 590 | 603937 |
| 5.35%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 665 | 643599 |
| 5.50%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; 580 | 601778 |
| 5.50%, 05/15/64 | &nbsp;&nbsp; 775 | 755084 |
| 5.65%, 06/15/35 | &nbsp;&nbsp; 311 | 323197 |
| 5.65%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; 1005 | 1018920 |
| 6.45%, 03/15/37 | &nbsp;&nbsp; 455 | 499661 |
| 6.50%, 11/15/35 | &nbsp;&nbsp; 330 | 365936 |
| 7.05%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 270 | 306886 |
| NBCUniversal Media LLC, 4.45%, 01/15/43 | &nbsp;&nbsp; 331 | 289075 |
| TWDC Enterprises 18 Corp. |  |  |
| 1.85%, 07/30/26 | &nbsp;&nbsp; 469 | 448439 |
| 2.95%, 06/15/27 | &nbsp;&nbsp; 451 | 433772 |
| 3.00%, 02/13/26 | &nbsp;&nbsp; 515 | 505070 |
| 3.00%, 07/30/46 | &nbsp;&nbsp; 224 | 154448 |
| 3.70%, 12/01/42 | &nbsp;&nbsp; 350 | 280753 |
| 4.13%, 06/01/44 | &nbsp;&nbsp; 467 | 394429 |
| Series B, 7.00%, 03/01/32 | &nbsp;&nbsp; 95 | 107820 |
| Series E, 4.13%, 12/01/41 | &nbsp;&nbsp; 336 | 287182 |
| Walt Disney Co. (The) |  |  |
| 1.75%, 01/13/26 | &nbsp;&nbsp; 586 | 566902 |
| 2.00%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 798 | 709431 |
| 2.20%, 01/13/28 | &nbsp;&nbsp; 645 | 602392 |
| 2.65%, 01/13/31 | &nbsp;&nbsp; 1420 | 1262207 |
| 2.75%, 09/01/49<sup>(a)</sup> | &nbsp;&nbsp; 837 | 540886 |
| 3.50%, 05/13/40 | &nbsp;&nbsp; 873 | 706482 |
| 3.60%, 01/13/51 | &nbsp;&nbsp; 1641 | 1238315 |
| 3.70%, 03/23/27 | &nbsp;&nbsp; 325 | 319775 |
| 3.80%, 03/22/30 | &nbsp;&nbsp; 584 | 559889 |
| 3.80%, 05/13/60 | &nbsp;&nbsp; 697 | 521607 |
| 4.63%, 03/23/40<sup>(a)</sup> | &nbsp;&nbsp; 512 | 482378 |
| 4.70%, 03/23/50<sup>(a)</sup> | &nbsp;&nbsp; 921 | 845991 |
| 4.75%, 09/15/44 | &nbsp;&nbsp; 430 | 396568 |
| 5.40%, 10/01/43 | &nbsp;&nbsp; 296 | 296517 |
| 6.15%, 02/15/41 | &nbsp;&nbsp; 250 | 271004 |
| 6.20%, 12/15/34 | &nbsp;&nbsp; 502 | 551983 |
| 6.40%, 12/15/35 | &nbsp;&nbsp; 790 | 874121 |
| 6.65%, 11/15/37 | &nbsp;&nbsp; 578 | 653118 |
|  |  | 51837882 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** |
| Precision Castparts Corp., 3.90%, 01/15/43 | &nbsp;&nbsp; $185 | $154086 |
| **Mining — 0.5%** | **Mining — 0.5%** | **Mining — 0.5%** |
| BHP Billiton Finance USA Ltd. |  |  |
| 4.13%, 02/24/42 | &nbsp;&nbsp; 535 | 462944 |
| 4.75%, 02/28/28 | &nbsp;&nbsp; 590 | 592962 |
| 4.88%, 02/27/26 | &nbsp;&nbsp; 520 | 521967 |
| 4.90%, 02/28/33 | &nbsp;&nbsp; 370 | 369025 |
| 5.00%, 09/30/43 | &nbsp;&nbsp; 1071 | 1027852 |
| 5.10%, 09/08/28 | &nbsp;&nbsp; 315 | 319723 |
| 5.25%, 09/08/26 | &nbsp;&nbsp; 710 | 718271 |
| 5.25%, 09/08/30 | &nbsp;&nbsp; 575 | 589371 |
| 5.25%, 09/08/33<sup>(a)</sup> | &nbsp;&nbsp; 590 | 599680 |
| 5.50%, 09/08/53<sup>(a)</sup> | &nbsp;&nbsp; 460 | 467846 |
| Rio Tinto Alcan Inc., 6.13%, 12/15/33 | &nbsp;&nbsp; 400 | 432056 |
| Rio Tinto Finance USA Ltd. |  |  |
| 2.75%, 11/02/51<sup>(a)</sup> | &nbsp;&nbsp; 635 | 402532 |
| 5.20%, 11/02/40 | &nbsp;&nbsp; 532 | 526477 |
| 7.13%, 07/15/28 | &nbsp;&nbsp; 416 | 449971 |
| Rio Tinto Finance USA PLC |  |  |
| 4.13%, 08/21/42 | &nbsp;&nbsp; 371 | 319301 |
| 4.75%, 03/22/42 | &nbsp;&nbsp; 210 | 197170 |
| 5.00%, 03/09/33 | &nbsp;&nbsp; 235 | 237827 |
| 5.13%, 03/09/53 | &nbsp;&nbsp; 495 | 475683 |
|  |  | 8710658 |
| **Oil & Gas — 3.5%** | **Oil & Gas — 3.5%** | **Oil & Gas — 3.5%** |
| BP Capital Markets America Inc. |  |  |
| 1.75%, 08/10/30<sup>(a)</sup> | &nbsp;&nbsp; 860 | 729243 |
| 2.72%, 01/12/32 | &nbsp;&nbsp; 905 | 783697 |
| 2.77%, 11/10/50 | &nbsp;&nbsp; 1040 | 647125 |
| 2.94%, 06/04/51<sup>(a)</sup> | &nbsp;&nbsp; 1047 | 672094 |
| 3.00%, 02/24/50 | &nbsp;&nbsp; 1372 | 902338 |
| 3.00%, 03/17/52<sup>(a)</sup> | &nbsp;&nbsp; 510 | 331090 |
| 3.02%, 01/16/27 | &nbsp;&nbsp; 454 | 439243 |
| 3.06%, 06/17/41 | &nbsp;&nbsp; 690 | 510305 |
| 3.07%, 03/30/50<sup>(a)</sup> | &nbsp;&nbsp; 20 | 18583 |
| 3.12%, 05/04/26 | &nbsp;&nbsp; 720 | 705177 |
| 3.38%, 02/08/61 | &nbsp;&nbsp; 1143 | 754421 |
| 3.41%, 02/11/26 | &nbsp;&nbsp; 668 | 659113 |
| 3.54%, 04/06/27 | &nbsp;&nbsp; 90 | 87888 |
| 3.59%, 04/14/27 | &nbsp;&nbsp; 246 | 240392 |
| 3.63%, 04/06/30 | &nbsp;&nbsp; 1032 | 975987 |
| 3.94%, 09/21/28 | &nbsp;&nbsp; 545 | 530738 |
| 4.23%, 11/06/28 | &nbsp;&nbsp; 878 | 863586 |
| 4.70%, 04/10/29 | &nbsp;&nbsp; 550 | 548881 |
| 4.81%, 02/13/33 | &nbsp;&nbsp; 1075 | 1053456 |
| 4.89%, 09/11/33 | &nbsp;&nbsp; 730 | 718136 |
| 4.97%, 10/17/29 | &nbsp;&nbsp; 400 | 403807 |
| 4.99%, 04/10/34 | &nbsp;&nbsp; 475 | 469347 |
| 5.02%, 11/17/27 | &nbsp;&nbsp; 690 | 698965 |
| 5.23%, 11/17/34 | &nbsp;&nbsp; 655 | 657945 |
| BP Capital Markets PLC |  |  |
| 3.28%, 09/19/27 | &nbsp;&nbsp; 1614 | 1558225 |
| 3.72%, 11/28/28 | &nbsp;&nbsp; 434 | 418349 |
| Chevron Corp. |  |  |
| 2.00%, 05/11/27 | &nbsp;&nbsp; 488 | 460704 |
| 2.24%, 05/11/30 | &nbsp;&nbsp; 989 | 873444 |
| 2.95%, 05/16/26 | &nbsp;&nbsp; 1121 | 1097080 |
| 3.08%, 05/11/50 | &nbsp;&nbsp; 687 | 476684 |
| 3.33%, 11/17/25 | &nbsp;&nbsp; 331 | 327084 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Chevron USA Inc. |  |  |
| 1.02%, 08/12/27 | &nbsp;&nbsp; $403 | $368128 |
| 2.34%, 08/12/50<sup>(a)</sup> | &nbsp;&nbsp; 542 | 320523 |
| 3.85%, 01/15/28 | &nbsp;&nbsp; 925 | 911467 |
| ConocoPhillips Co. |  |  |
| 3.76%, 03/15/42 | &nbsp;&nbsp; 339 | 274456 |
| 3.80%, 03/15/52 | &nbsp;&nbsp; 478 | 363021 |
| 4.03%, 03/15/62 | &nbsp;&nbsp; 805 | 609797 |
| 4.30%, 11/15/44 | &nbsp;&nbsp; 778 | 665155 |
| 5.05%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp; 1060 | 1064811 |
| 5.30%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 610 | 586549 |
| 5.55%, 03/15/54<sup>(a)</sup> | &nbsp;&nbsp; 925 | 923790 |
| 5.70%, 09/15/63 | &nbsp;&nbsp; 340 | 341709 |
| 5.90%, 10/15/32 | &nbsp;&nbsp; 131 | 140448 |
| 6.50%, 02/01/39 | &nbsp;&nbsp; 805 | 890911 |
| 6.95%, 04/15/29 | &nbsp;&nbsp; 305 | 334085 |
| EOG Resources Inc. |  |  |
| 3.90%, 04/01/35 | &nbsp;&nbsp; 429 | 387773 |
| 4.15%, 01/15/26 | &nbsp;&nbsp; 346 | 343854 |
| 4.38%, 04/15/30 | &nbsp;&nbsp; 487 | 477979 |
| 4.95%, 04/15/50 | &nbsp;&nbsp; 675 | 619129 |
| Exxon Mobil Corp. |  |  |
| 2.28%, 08/16/26 | &nbsp;&nbsp; 478 | 460925 |
| 2.44%, 08/16/29 | &nbsp;&nbsp; 894 | 816705 |
| 2.61%, 10/15/30 | &nbsp;&nbsp; 927 | 830782 |
| 3.00%, 08/16/39 | &nbsp;&nbsp; 447 | 346485 |
| 3.04%, 03/01/26 | &nbsp;&nbsp; 1122 | 1101649 |
| 3.10%, 08/16/49 | &nbsp;&nbsp; 555 | 385145 |
| 3.29%, 03/19/27 | &nbsp;&nbsp; 389 | 381034 |
| 3.45%, 04/15/51<sup>(a)</sup> | &nbsp;&nbsp; 1328 | 973848 |
| 3.48%, 03/19/30 | &nbsp;&nbsp; 991 | 938783 |
| 3.57%, 03/06/45 | &nbsp;&nbsp; 435 | 340401 |
| 4.11%, 03/01/46 | &nbsp;&nbsp; 1314 | 1107709 |
| 4.23%, 03/19/40 | &nbsp;&nbsp; 902 | 805913 |
| 4.33%, 03/19/50 | &nbsp;&nbsp; 1264 | 1086472 |
| Shell Finance U.S. Inc. |  |  |
| 2.38%, 11/07/29 | &nbsp;&nbsp; 752 | 677723 |
| 2.75%, 04/06/30 | &nbsp;&nbsp; 872 | 793394 |
| 3.25%, 04/06/50 | &nbsp;&nbsp; 883 | 621194 |
| 3.75%, 09/12/46 | &nbsp;&nbsp; 578 | 450197 |
| 4.00%, 05/10/46 | &nbsp;&nbsp; 906 | 736500 |
| 4.13%, 05/11/35<sup>(a)</sup> | &nbsp;&nbsp; 663 | 616951 |
| 4.38%, 05/11/45 | &nbsp;&nbsp; 1127 | 973698 |
| 4.55%, 08/12/43 | &nbsp;&nbsp; 978 | 884590 |
| Shell International Finance BV |  |  |
| 2.50%, 09/12/26 | &nbsp;&nbsp; 494 | 476706 |
| 2.88%, 05/10/26 | &nbsp;&nbsp; 1063 | 1038060 |
| 2.88%, 11/26/41 | &nbsp;&nbsp; 275 | 201760 |
| 3.00%, 11/26/51 | &nbsp;&nbsp; 398 | 263389 |
| 3.13%, 11/07/49 | &nbsp;&nbsp; 577 | 396568 |
| 3.63%, 08/21/42 | &nbsp;&nbsp; 218 | 175385 |
| 3.88%, 11/13/28 | &nbsp;&nbsp; 629 | 613862 |
| 5.50%, 03/25/40 | &nbsp;&nbsp; 608 | 622118 |
| 6.38%, 12/15/38 | &nbsp;&nbsp; 1245 | 1382810 |
| TotalEnergies Capital International SA |  |  |
| 2.83%, 01/10/30 | &nbsp;&nbsp; 824 | 754135 |
| 2.99%, 06/29/41 | &nbsp;&nbsp; 352 | 260545 |
| 3.13%, 05/29/50 | &nbsp;&nbsp; 1336 | 916859 |
| 3.39%, 06/29/60 | &nbsp;&nbsp; 283 | 191116 |
| 3.46%, 02/19/29<sup>(a)</sup> | &nbsp;&nbsp; 515 | 493776 |
| 3.46%, 07/12/49 | &nbsp;&nbsp; 386 | 283691 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| TotalEnergies Capital SA |  |  |
| 3.88%, 10/11/28 | &nbsp;&nbsp; $458 | $446781 |
| 4.72%, 09/10/34<sup>(a)</sup> | &nbsp;&nbsp; 350 | 341262 |
| 5.15%, 04/05/34 | &nbsp;&nbsp; 688 | 694634 |
| 5.28%, 09/10/54 | &nbsp;&nbsp; 740 | 710775 |
| 5.43%, 09/10/64 | &nbsp;&nbsp; 870 | 838996 |
| 5.49%, 04/05/54 | &nbsp;&nbsp; 1193 | 1184020 |
| 5.64%, 04/05/64 | &nbsp;&nbsp; 658 | 654113 |
|  |  | 57508171 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| Baker Hughes Holdings LLC, 5.13%, 09/15/40 | &nbsp;&nbsp; 474 | 457767 |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc.<br>|  |  |
| 2.06%, 12/15/26 | &nbsp;&nbsp; 210 | 199771 |
| 3.14%, 11/07/29 | &nbsp;&nbsp; 293 | 271444 |
| 3.34%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 812 | 781070 |
| 4.08%, 12/15/47 | &nbsp;&nbsp; 1053 | 851541 |
| 4.49%, 05/01/30 | &nbsp;&nbsp; 263 | 258547 |
| Schlumberger Investment SA |  |  |
| 2.65%, 06/26/30 | &nbsp;&nbsp; 465 | 417240 |
| 4.50%, 05/15/28 | &nbsp;&nbsp; 100 | 99848 |
| 4.85%, 05/15/33 | &nbsp;&nbsp; 100 | 98671 |
| 5.00%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 198428 |
|  |  | 3634327 |
| **Pharmaceuticals — 8.0%** | **Pharmaceuticals — 8.0%** | **Pharmaceuticals — 8.0%** |
| AbbVie Inc. |  |  |
| 2.95%, 11/21/26 | &nbsp;&nbsp; 1784 | 1729967 |
| 3.20%, 05/14/26 | &nbsp;&nbsp; 615 | 603241 |
| 3.20%, 11/21/29 | &nbsp;&nbsp; 2380 | 2225560 |
| 4.05%, 11/21/39 | &nbsp;&nbsp; 2185 | 1917097 |
| 4.25%, 11/14/28<sup>(a)</sup> | &nbsp;&nbsp; 915 | 905815 |
| 4.25%, 11/21/49 | &nbsp;&nbsp; 2835 | 2405437 |
| 4.30%, 05/14/36 | &nbsp;&nbsp; 580 | 541290 |
| 4.40%, 11/06/42 | &nbsp;&nbsp; 1565 | 1398064 |
| 4.45%, 05/14/46 | &nbsp;&nbsp; 1205 | 1062278 |
| 4.50%, 05/14/35 | &nbsp;&nbsp; 1195 | 1145055 |
| 4.55%, 03/15/35 | &nbsp;&nbsp; 755 | 725735 |
| 4.70%, 05/14/45 | &nbsp;&nbsp; 1450 | 1329320 |
| 4.75%, 03/15/45 | &nbsp;&nbsp; 305 | 281512 |
| 4.80%, 03/15/27 | &nbsp;&nbsp; 1195 | 1203078 |
| 4.80%, 03/15/29 | &nbsp;&nbsp; 1350 | 1359611 |
| 4.85%, 06/15/44 | &nbsp;&nbsp; 565 | 529562 |
| 4.88%, 11/14/48 | &nbsp;&nbsp; 855 | 799062 |
| 4.95%, 03/15/31 | &nbsp;&nbsp; 600 | 605870 |
| 5.05%, 03/15/34 | &nbsp;&nbsp; 1550 | 1561249 |
| 5.35%, 03/15/44 | &nbsp;&nbsp; 425 | 426102 |
| 5.40%, 03/15/54 | &nbsp;&nbsp; 1695 | 1708584 |
| 5.50%, 03/15/64 | &nbsp;&nbsp; 770 | 775781 |
| Astrazeneca Finance LLC |  |  |
| 1.20%, 05/28/26 | &nbsp;&nbsp; 715 | 680503 |
| 1.75%, 05/28/28 | &nbsp;&nbsp; 460 | 417507 |
| 2.25%, 05/28/31<sup>(a)</sup> | &nbsp;&nbsp; 510 | 439917 |
| 4.80%, 02/26/27 | &nbsp;&nbsp; 810 | 816323 |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 520 | 525022 |
| 4.88%, 03/03/28 | &nbsp;&nbsp; 425 | 429059 |
| 4.88%, 03/03/33<sup>(a)</sup> | &nbsp;&nbsp; 190 | 190902 |
| 4.90%, 03/03/30 | &nbsp;&nbsp; 285 | 288431 |
| 4.90%, 02/26/31 | &nbsp;&nbsp; 455 | 459448 |
| 5.00%, 02/26/34 | &nbsp;&nbsp; 755 | 759775 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| AstraZeneca PLC |  |  |
| 0.70%, 04/08/26 | &nbsp;&nbsp; $545 | $516960 |
| 1.38%, 08/06/30 | &nbsp;&nbsp; 445 | 371982 |
| 2.13%, 08/06/50 | &nbsp;&nbsp; 305 | 173973 |
| 3.00%, 05/28/51<sup>(a)</sup> | &nbsp;&nbsp; 620 | 427458 |
| 3.13%, 06/12/27 | &nbsp;&nbsp; 340 | 329258 |
| 3.38%, 11/16/25 | &nbsp;&nbsp; 730 | 722806 |
| 4.00%, 01/17/29 | &nbsp;&nbsp; 715 | 700298 |
| 4.00%, 09/18/42 | &nbsp;&nbsp; 735 | 627495 |
| 4.38%, 11/16/45 | &nbsp;&nbsp; 550 | 489508 |
| 4.38%, 08/17/48<sup>(a)</sup> | &nbsp;&nbsp; 335 | 295953 |
| 6.45%, 09/15/37 | &nbsp;&nbsp; 1370 | 1533613 |
| Bristol-Myers Squibb Co. |  |  |
| 0.75%, 11/13/25 | &nbsp;&nbsp; 366 | 352176 |
| 1.13%, 11/13/27 | &nbsp;&nbsp; 505 | 457867 |
| 1.45%, 11/13/30<sup>(a)</sup> | &nbsp;&nbsp; 490 | 407554 |
| 2.35%, 11/13/40 | &nbsp;&nbsp; 446 | 304812 |
| 2.55%, 11/13/50 | &nbsp;&nbsp; 803 | 483228 |
| 2.95%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 605 | 534449 |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 943 | 924770 |
| 3.25%, 02/27/27 | &nbsp;&nbsp; 185 | 180075 |
| 3.25%, 08/01/42 | &nbsp;&nbsp; 175 | 132068 |
| 3.40%, 07/26/29 | &nbsp;&nbsp; 1118 | 1063855 |
| 3.45%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 208 | 202609 |
| 3.55%, 03/15/42 | &nbsp;&nbsp; 660 | 526040 |
| 3.70%, 03/15/52 | &nbsp;&nbsp; 1625 | 1220751 |
| 3.90%, 02/20/28 | &nbsp;&nbsp; 875 | 858799 |
| 3.90%, 03/15/62 | &nbsp;&nbsp; 635 | 473458 |
| 4.13%, 06/15/39 | &nbsp;&nbsp; 1085 | 958240 |
| 4.25%, 10/26/49 | &nbsp;&nbsp; 2017 | 1688856 |
| 4.35%, 11/15/47 | &nbsp;&nbsp; 745 | 632447 |
| 4.55%, 02/20/48 | &nbsp;&nbsp; 749 | 658049 |
| 4.63%, 05/15/44 | &nbsp;&nbsp; 330 | 298983 |
| 4.90%, 02/22/27<sup>(a)</sup> | &nbsp;&nbsp; 375 | 378879 |
| 4.90%, 02/22/29<sup>(a)</sup> | &nbsp;&nbsp; 945 | 956980 |
| 4.95%, 02/20/26 | &nbsp;&nbsp; 415 | 417669 |
| 5.00%, 08/15/45 | &nbsp;&nbsp; 410 | 388653 |
| 5.10%, 02/22/31 | &nbsp;&nbsp; 440 | 447628 |
| 5.20%, 02/22/34<sup>(a)</sup> | &nbsp;&nbsp; 1115 | 1134718 |
| 5.50%, 02/22/44<sup>(a)</sup> | &nbsp;&nbsp; 185 | 187836 |
| 5.55%, 02/22/54 | &nbsp;&nbsp; 1515 | 1531923 |
| 5.65%, 02/22/64 | &nbsp;&nbsp; 955 | 960249 |
| 5.75%, 02/01/31 | &nbsp;&nbsp; 550 | 577509 |
| 5.90%, 11/15/33 | &nbsp;&nbsp; 435 | 465001 |
| 6.25%, 11/15/53 | &nbsp;&nbsp; 520 | 574100 |
| 6.40%, 11/15/63 | &nbsp;&nbsp; 665 | 743189 |
| Eli Lilly & Co. |  |  |
| 2.25%, 05/15/50 | &nbsp;&nbsp; 664 | 390744 |
| 2.50%, 09/15/60 | &nbsp;&nbsp; 270 | 151843 |
| 3.38%, 03/15/29 | &nbsp;&nbsp; 476 | 455255 |
| 3.95%, 03/15/49 | &nbsp;&nbsp; 480 | 395464 |
| 4.15%, 08/14/27 | &nbsp;&nbsp; 355 | 353418 |
| 4.15%, 03/15/59 | &nbsp;&nbsp; 483 | 397880 |
| 4.20%, 08/14/29 | &nbsp;&nbsp; 345 | 340518 |
| 4.50%, 02/09/27<sup>(a)</sup> | &nbsp;&nbsp; 700 | 701785 |
| 4.50%, 02/09/29 | &nbsp;&nbsp; 555 | 554957 |
| 4.60%, 08/14/34 | &nbsp;&nbsp; 405 | 396016 |
| 4.70%, 02/27/33<sup>(a)</sup> | &nbsp;&nbsp; 540 | 536664 |
| 4.70%, 02/09/34 | &nbsp;&nbsp; 765 | 754234 |
| 4.88%, 02/27/53 | &nbsp;&nbsp; 675 | 635862 |
| 4.95%, 02/27/63 | &nbsp;&nbsp; 480 | 451953 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 5.00%, 02/27/26 | &nbsp;&nbsp; $15 | $15007 |
| 5.00%, 02/09/54 | &nbsp;&nbsp; 820 | 789430 |
| 5.05%, 08/14/54 | &nbsp;&nbsp; 745 | 723903 |
| 5.10%, 02/09/64 | &nbsp;&nbsp; 710 | 680890 |
| 5.20%, 08/14/64 | &nbsp;&nbsp; 575 | 560943 |
| GlaxoSmithKline Capital Inc. |  |  |
| 3.88%, 05/15/28 | &nbsp;&nbsp; 2390 | 2341121 |
| 4.20%, 03/18/43<sup>(a)</sup> | &nbsp;&nbsp; 139 | 120513 |
| 5.38%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp; 406 | 422533 |
| 6.38%, 05/15/38 | &nbsp;&nbsp; 1509 | 1677932 |
| GlaxoSmithKline Capital PLC, 3.38%, 06/01/29 | &nbsp;&nbsp; 460 | 437366 |
| Johnson & Johnson |  |  |
| 0.95%, 09/01/27 | &nbsp;&nbsp; 705 | 643942 |
| 1.30%, 09/01/30 | &nbsp;&nbsp; 795 | 669876 |
| 2.10%, 09/01/40 | &nbsp;&nbsp; 615 | 421632 |
| 2.25%, 09/01/50 | &nbsp;&nbsp; 435 | 263668 |
| 2.45%, 03/01/26 | &nbsp;&nbsp; 907 | 884387 |
| 2.45%, 09/01/60<sup>(a)</sup> | &nbsp;&nbsp; 325 | 187655 |
| 2.90%, 01/15/28 | &nbsp;&nbsp; 814 | 779747 |
| 2.95%, 03/03/27 | &nbsp;&nbsp; 628 | 609525 |
| 3.40%, 01/15/38 | &nbsp;&nbsp; 425 | 361569 |
| 3.50%, 01/15/48 | &nbsp;&nbsp; 444 | 350547 |
| 3.55%, 03/01/36 | &nbsp;&nbsp; 460 | 410148 |
| 3.63%, 03/03/37 | &nbsp;&nbsp; 763 | 672449 |
| 3.70%, 03/01/46 | &nbsp;&nbsp; 813 | 666225 |
| 3.75%, 03/03/47 | &nbsp;&nbsp; 498 | 408014 |
| 4.38%, 12/05/33 | &nbsp;&nbsp; 315 | 312461 |
| 4.50%, 09/01/40 | &nbsp;&nbsp; 277 | 267227 |
| 4.50%, 12/05/43<sup>(a)</sup> | &nbsp;&nbsp; 325 | 310834 |
| 4.80%, 06/01/29 | &nbsp;&nbsp; 700 | 710787 |
| 4.90%, 06/01/31 | &nbsp;&nbsp; 655 | 665871 |
| 4.95%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp; 313 | 324377 |
| 4.95%, 06/01/34 | &nbsp;&nbsp; 890 | 907598 |
| 5.25%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; 575 | 588954 |
| 5.85%, 07/15/38 | &nbsp;&nbsp; 1151 | 1262209 |
| 5.95%, 08/15/37 | &nbsp;&nbsp; 601 | 663350 |
| McKesson Corp. |  |  |
| 0.90%, 12/03/25 | &nbsp;&nbsp; 10 | 9613 |
| 1.30%, 08/15/26 | &nbsp;&nbsp; 325 | 307279 |
| 4.25%, 09/15/29 | &nbsp;&nbsp; 175 | 171385 |
| 5.10%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp; 505 | 508954 |
| Mead Johnson Nutrition Co. |  |  |
| 4.13%, 11/15/25 | &nbsp;&nbsp; 279 | 277658 |
| 4.60%, 06/01/44 | &nbsp;&nbsp; 210 | 185288 |
| Merck & Co. Inc. |  |  |
| 0.75%, 02/24/26 | &nbsp;&nbsp; 480 | 458400 |
| 1.45%, 06/24/30 | &nbsp;&nbsp; 720 | 606601 |
| 1.70%, 06/10/27 | &nbsp;&nbsp; 835 | 781970 |
| 1.90%, 12/10/28 | &nbsp;&nbsp; 430 | 389373 |
| 2.15%, 12/10/31<sup>(a)</sup> | &nbsp;&nbsp; 1130 | 958721 |
| 2.35%, 06/24/40 | &nbsp;&nbsp; 511 | 355587 |
| 2.45%, 06/24/50 | &nbsp;&nbsp; 620 | 375131 |
| 2.75%, 12/10/51 | &nbsp;&nbsp; 941 | 597247 |
| 2.90%, 12/10/61 | &nbsp;&nbsp; 880 | 533128 |
| 3.40%, 03/07/29 | &nbsp;&nbsp; 598 | 571594 |
| 3.60%, 09/15/42 | &nbsp;&nbsp; 219 | 175710 |
| 3.70%, 02/10/45 | &nbsp;&nbsp; 1260 | 1003662 |
| 3.90%, 03/07/39 | &nbsp;&nbsp; 625 | 544512 |
| 4.00%, 03/07/49 | &nbsp;&nbsp; 776 | 634661 |
| 4.05%, 05/17/28<sup>(a)</sup> | &nbsp;&nbsp; 175 | 173474 |
| 4.15%, 05/18/43 | &nbsp;&nbsp; 543 | 468925 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 4.30%, 05/17/30 | &nbsp;&nbsp; $395 | $389640 |
| 4.50%, 05/17/33<sup>(a)</sup> | &nbsp;&nbsp; 990 | 971426 |
| 4.90%, 05/17/44 | &nbsp;&nbsp; 560 | 533953 |
| 5.00%, 05/17/53<sup>(a)</sup> | &nbsp;&nbsp; 720 | 683683 |
| 5.15%, 05/17/63 | &nbsp;&nbsp; 625 | 600400 |
| 6.50%, 12/01/33 | &nbsp;&nbsp; 283 | 318353 |
| Novartis Capital Corp. |  |  |
| 2.00%, 02/14/27 | &nbsp;&nbsp; 925 | 879984 |
| 2.20%, 08/14/30 | &nbsp;&nbsp; 1490 | 1312054 |
| 2.75%, 08/14/50<sup>(a)</sup> | &nbsp;&nbsp; 634 | 420411 |
| 3.00%, 11/20/25 | &nbsp;&nbsp; 775 | 764277 |
| 3.10%, 05/17/27 | &nbsp;&nbsp; 585 | 568070 |
| 3.70%, 09/21/42 | &nbsp;&nbsp; 238 | 197810 |
| 3.80%, 09/18/29 | &nbsp;&nbsp; 375 | 363682 |
| 4.00%, 09/18/31 | &nbsp;&nbsp; 370 | 355133 |
| 4.00%, 11/20/45 | &nbsp;&nbsp; 490 | 415855 |
| 4.20%, 09/18/34 | &nbsp;&nbsp; 380 | 360224 |
| 4.40%, 05/06/44 | &nbsp;&nbsp; 960 | 867077 |
| 4.70%, 09/18/54 | &nbsp;&nbsp; 225 | 208017 |
| Pfizer Inc. |  |  |
| 1.70%, 05/28/30 | &nbsp;&nbsp; 570 | 488367 |
| 1.75%, 08/18/31<sup>(a)</sup> | &nbsp;&nbsp; 500 | 415928 |
| 2.55%, 05/28/40 | &nbsp;&nbsp; 384 | 273846 |
| 2.63%, 04/01/30 | &nbsp;&nbsp; 530 | 479169 |
| 2.70%, 05/28/50 | &nbsp;&nbsp; 938 | 609359 |
| 2.75%, 06/03/26<sup>(a)</sup> | &nbsp;&nbsp; 976 | 951357 |
| 3.00%, 12/15/26 | &nbsp;&nbsp; 782 | 759330 |
| 3.45%, 03/15/29 | &nbsp;&nbsp; 761 | 729125 |
| 3.60%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 360 | 349746 |
| 3.90%, 03/15/39 | &nbsp;&nbsp; 488 | 423759 |
| 4.00%, 12/15/36 | &nbsp;&nbsp; 335 | 305257 |
| 4.00%, 03/15/49 | &nbsp;&nbsp; 564 | 463665 |
| 4.10%, 09/15/38 | &nbsp;&nbsp; 257 | 229855 |
| 4.13%, 12/15/46 | &nbsp;&nbsp; 764 | 638554 |
| 4.20%, 09/15/48 | &nbsp;&nbsp; 565 | 476573 |
| 4.30%, 06/15/43 | &nbsp;&nbsp; 349 | 305858 |
| 4.40%, 05/15/44 | &nbsp;&nbsp; 599 | 538515 |
| 7.20%, 03/15/39 | &nbsp;&nbsp; 1232 | 1469802 |
| Pfizer Investment Enterprises Pte Ltd. |  |  |
| 4.45%, 05/19/26 | &nbsp;&nbsp; 1720 | 1717573 |
| 4.45%, 05/19/28 | &nbsp;&nbsp; 1725 | 1718673 |
| 4.65%, 05/19/30 | &nbsp;&nbsp; 1365 | 1363592 |
| 4.75%, 05/19/33 | &nbsp;&nbsp; 2415 | 2380695 |
| 5.11%, 05/19/43 | &nbsp;&nbsp; 1570 | 1522458 |
| 5.30%, 05/19/53 | &nbsp;&nbsp; 3040 | 2974164 |
| 5.34%, 05/19/63 | &nbsp;&nbsp; 2165 | 2083022 |
| Pharmacia LLC, 6.60%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 289 | 309352 |
| Sanofi SA, 3.63%, 06/19/28 | &nbsp;&nbsp; 448 | 435413 |
| Wyeth LLC |  |  |
| 5.95%, 04/01/37 | &nbsp;&nbsp; 1001 | 1063730 |
| 6.00%, 02/15/36 | &nbsp;&nbsp; 211 | 227314 |
| 6.50%, 02/01/34 | &nbsp;&nbsp; 312 | 346227 |
|  |  | 131537364 |
| **Pipelines — 0.8%** | **Pipelines — 0.8%** | **Pipelines — 0.8%** |
| Enterprise Products Operating LLC |  |  |
| 2.80%, 01/31/30 | &nbsp;&nbsp; 695 | 630924 |
| 3.13%, 07/31/29 | &nbsp;&nbsp; 990 | 924491 |
| 3.20%, 02/15/52 | &nbsp;&nbsp; 205 | 138308 |
| 3.30%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 365 | 248676 |
| 3.70%, 02/15/26 | &nbsp;&nbsp; 475 | 470442 |
| 3.70%, 01/31/51 | &nbsp;&nbsp; 350 | 260331 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 3.95%, 02/15/27 | &nbsp;&nbsp; $35 | $34521 |
| 3.95%, 01/31/60 | &nbsp;&nbsp; 430 | 320176 |
| 4.15%, 10/16/28 | &nbsp;&nbsp; 410 | 401732 |
| 4.20%, 01/31/50 | &nbsp;&nbsp; 885 | 720398 |
| 4.25%, 02/15/48 | &nbsp;&nbsp; 480 | 398306 |
| 4.45%, 02/15/43 | &nbsp;&nbsp; 465 | 405162 |
| 4.60%, 01/11/27 | &nbsp;&nbsp; 640 | 640726 |
| 4.80%, 02/01/49 | &nbsp;&nbsp; 550 | 492546 |
| 4.85%, 01/31/34 | &nbsp;&nbsp; 1020 | 1001474 |
| 4.85%, 08/15/42 | &nbsp;&nbsp; 630 | 580578 |
| 4.85%, 03/15/44 | &nbsp;&nbsp; 955 | 875348 |
| 4.90%, 05/15/46 | &nbsp;&nbsp; 530 | 483506 |
| 4.95%, 02/15/35<sup>(a)</sup> | &nbsp;&nbsp; 910 | 895431 |
| 5.05%, 01/10/26 | &nbsp;&nbsp; 60 | 60326 |
| 5.10%, 02/15/45 | &nbsp;&nbsp; 835 | 785510 |
| 5.35%, 01/31/33 | &nbsp;&nbsp; 675 | 689256 |
| 5.55%, 02/16/55 | &nbsp;&nbsp; 605 | 599851 |
| 5.70%, 02/15/42 | &nbsp;&nbsp; 20 | 20232 |
| 5.95%, 02/01/41 | &nbsp;&nbsp; 285 | 297931 |
| 6.13%, 10/15/39 | &nbsp;&nbsp; 50 | 53095 |
| 6.45%, 09/01/40 | &nbsp;&nbsp; 165 | 180129 |
| Series D, 6.88%, 03/01/33 | &nbsp;&nbsp; 600 | 669622 |
|  |  | 13279028 |
| **Real Estate Investment Trusts — 1.5%** | **Real Estate Investment Trusts — 1.5%** | **Real Estate Investment Trusts — 1.5%** |
| AvalonBay Communities Inc. |  |  |
| 2.05%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 310 | 259557 |
| 2.30%, 03/01/30 | &nbsp;&nbsp; 350 | 308611 |
| 2.45%, 01/15/31 | &nbsp;&nbsp; 241 | 210620 |
| Camden Property Trust |  |  |
| 2.80%, 05/15/30 | &nbsp;&nbsp; 477 | 429585 |
| 3.15%, 07/01/29 | &nbsp;&nbsp; 320 | 298819 |
| 5.85%, 11/03/26 | &nbsp;&nbsp; 205 | 209966 |
| ERP Operating LP |  |  |
| 1.85%, 08/01/31 | &nbsp;&nbsp; 90 | 74721 |
| 2.50%, 02/15/30 | &nbsp;&nbsp; 375 | 334051 |
| 2.85%, 11/01/26 | &nbsp;&nbsp; 320 | 309782 |
| 3.00%, 07/01/29 | &nbsp;&nbsp; 361 | 334712 |
| 3.50%, 03/01/28 | &nbsp;&nbsp; 256 | 247078 |
| 4.50%, 07/01/44 | &nbsp;&nbsp; 347 | 305258 |
| 4.65%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; 430 | 412735 |
| Mid-America Apartments LP |  |  |
| 3.60%, 06/01/27 | &nbsp;&nbsp; 270 | 263676 |
| 3.95%, 03/15/29 | &nbsp;&nbsp; 250 | 242221 |
| Prologis LP |  |  |
| 1.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 365 | 300035 |
| 2.13%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 325 | 307041 |
| 2.13%, 10/15/50 | &nbsp;&nbsp; 277 | 151148 |
| 2.25%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 623 | 548333 |
| 3.00%, 04/15/50 | &nbsp;&nbsp; 300 | 199409 |
| 4.63%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 285 | 278909 |
| 4.75%, 06/15/33 | &nbsp;&nbsp; 350 | 343412 |
| 4.88%, 06/15/28 | &nbsp;&nbsp; 235 | 237037 |
| 5.00%, 03/15/34 | &nbsp;&nbsp; 420 | 415633 |
| 5.00%, 01/31/35 | &nbsp;&nbsp; 205 | 202620 |
| 5.13%, 01/15/34 | &nbsp;&nbsp; 455 | 455309 |
| 5.25%, 06/15/53 | &nbsp;&nbsp; 554 | 534971 |
| 5.25%, 03/15/54 | &nbsp;&nbsp; 435 | 419367 |
| Public Storage Operating Co. |  |  |
| 0.88%, 02/15/26 | &nbsp;&nbsp; 235 | 224211 |
| 1.50%, 11/09/26 | &nbsp;&nbsp; 275 | 259465 |
| 1.85%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 412 | 376028 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 1.95%, 11/09/28 | &nbsp;&nbsp; $420 | $379188 |
| 2.25%, 11/09/31 | &nbsp;&nbsp; 340 | 287944 |
| 2.30%, 05/01/31 | &nbsp;&nbsp; 324 | 280181 |
| 3.09%, 09/15/27 | &nbsp;&nbsp; 347 | 334139 |
| 3.39%, 05/01/29 | &nbsp;&nbsp; 379 | 359853 |
| 5.10%, 08/01/33 | &nbsp;&nbsp; 420 | 421808 |
| 5.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 390 | 397960 |
| 5.35%, 08/01/53 | &nbsp;&nbsp; 495 | 486128 |
| Realty Income Corp. |  |  |
| 2.85%, 12/15/32 | &nbsp;&nbsp; 340 | 289602 |
| 3.00%, 01/15/27 | &nbsp;&nbsp; 313 | 302180 |
| 3.10%, 12/15/29 | &nbsp;&nbsp; 286 | 263593 |
| 3.25%, 06/15/29 | &nbsp;&nbsp; 165 | 154352 |
| 3.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 496 | 451793 |
| 3.40%, 01/15/28 | &nbsp;&nbsp; 470 | 452785 |
| 3.65%, 01/15/28 | &nbsp;&nbsp; 220 | 213170 |
| 3.95%, 08/15/27 | &nbsp;&nbsp; 370 | 364463 |
| 4.13%, 10/15/26 | &nbsp;&nbsp; 240 | 237913 |
| 4.63%, 11/01/25 | &nbsp;&nbsp; 125 | 124880 |
| 4.65%, 03/15/47 | &nbsp;&nbsp; 186 | 165727 |
| 4.85%, 03/15/30 | &nbsp;&nbsp; 365 | 364266 |
| 4.88%, 06/01/26 | &nbsp;&nbsp; 300 | 300773 |
| 4.90%, 07/15/33 | &nbsp;&nbsp; 250 | 245064 |
| 5.05%, 01/13/26 | &nbsp;&nbsp; 110 | 109726 |
| 5.13%, 02/15/34 | &nbsp;&nbsp; 460 | 457541 |
| 5.38%, 09/01/54 | &nbsp;&nbsp; 210 | 203770 |
| 5.63%, 10/13/32<sup>(a)</sup> | &nbsp;&nbsp; 265 | 274447 |
| Simon Property Group LP |  |  |
| 1.38%, 01/15/27 | &nbsp;&nbsp; 197 | 183979 |
| 1.75%, 02/01/28 | &nbsp;&nbsp; 640 | 585969 |
| 2.20%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 217 | 185930 |
| 2.25%, 01/15/32 | &nbsp;&nbsp; 315 | 264027 |
| 2.45%, 09/13/29 | &nbsp;&nbsp; 500 | 449917 |
| 2.65%, 07/15/30 | &nbsp;&nbsp; 462 | 412243 |
| 2.65%, 02/01/32 | &nbsp;&nbsp; 395 | 339114 |
| 3.25%, 11/30/26 | &nbsp;&nbsp; 339 | 329872 |
| 3.25%, 09/13/49<sup>(a)</sup> | &nbsp;&nbsp; 535 | 371564 |
| 3.30%, 01/15/26 | &nbsp;&nbsp; 460 | 452719 |
| 3.38%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 565 | 549626 |
| 3.38%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 495 | 478894 |
| 3.80%, 07/15/50 | &nbsp;&nbsp; 328 | 249106 |
| 4.25%, 11/30/46<sup>(a)</sup> | &nbsp;&nbsp; 235 | 196933 |
| 4.75%, 09/26/34 | &nbsp;&nbsp; 505 | 484259 |
| 4.75%, 03/15/42 | &nbsp;&nbsp; 311 | 284929 |
| 5.50%, 03/08/33 | &nbsp;&nbsp; 300 | 307124 |
| 5.85%, 03/08/53<sup>(a)</sup> | &nbsp;&nbsp; 340 | 351467 |
| 6.25%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; 270 | 290805 |
| 6.65%, 01/15/54 | &nbsp;&nbsp; 300 | 343372 |
| 6.75%, 02/01/40<sup>(a)</sup> | &nbsp;&nbsp; 416 | 466992 |
|  |  | 24996407 |
| **Retail — 2.6%** | **Retail — 2.6%** | **Retail — 2.6%** |
| Costco Wholesale Corp. |  |  |
| 1.38%, 06/20/27 | &nbsp;&nbsp; 907 | 839071 |
| 1.60%, 04/20/30 | &nbsp;&nbsp; 972 | 831760 |
| 1.75%, 04/20/32<sup>(a)</sup> | &nbsp;&nbsp; 760 | 622282 |
| 3.00%, 05/18/27<sup>(a)</sup> | &nbsp;&nbsp; 668 | 647301 |
| Home Depot Inc. (The) |  |  |
| 0.90%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 95 | 84728 |
| 1.38%, 03/15/31 | &nbsp;&nbsp; 460 | 376026 |
| 1.50%, 09/15/28 | &nbsp;&nbsp; 587 | 525238 |
| 1.88%, 09/15/31 | &nbsp;&nbsp; 322 | 268836 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 2.13%, 09/15/26 | &nbsp;&nbsp; $653 | $626740 |
| 2.38%, 03/15/51 | &nbsp;&nbsp; 490 | 287734 |
| 2.50%, 04/15/27 | &nbsp;&nbsp; 368 | 351969 |
| 2.70%, 04/15/30 | &nbsp;&nbsp; 907 | 821207 |
| 2.75%, 09/15/51 | &nbsp;&nbsp; 487 | 309423 |
| 2.80%, 09/14/27 | &nbsp;&nbsp; 570 | 546196 |
| 2.88%, 04/15/27 | &nbsp;&nbsp; 540 | 521408 |
| 2.95%, 06/15/29 | &nbsp;&nbsp; 657 | 612707 |
| 3.00%, 04/01/26 | &nbsp;&nbsp; 387 | 379307 |
| 3.13%, 12/15/49 | &nbsp;&nbsp; 507 | 352274 |
| 3.25%, 04/15/32 | &nbsp;&nbsp; 280 | 252856 |
| 3.30%, 04/15/40 | &nbsp;&nbsp; 702 | 557800 |
| 3.35%, 04/15/50<sup>(a)</sup> | &nbsp;&nbsp; 638 | 461211 |
| 3.50%, 09/15/56 | &nbsp;&nbsp; 438 | 317601 |
| 3.63%, 04/15/52 | &nbsp;&nbsp; 870 | 656982 |
| 3.90%, 12/06/28<sup>(a)</sup> | &nbsp;&nbsp; 483 | 472513 |
| 3.90%, 06/15/47<sup>(a)</sup> | &nbsp;&nbsp; 645 | 520513 |
| 4.20%, 04/01/43 | &nbsp;&nbsp; 591 | 511322 |
| 4.25%, 04/01/46 | &nbsp;&nbsp; 687 | 589447 |
| 4.40%, 03/15/45 | &nbsp;&nbsp; 452 | 398004 |
| 4.50%, 09/15/32 | &nbsp;&nbsp; 670 | 660732 |
| 4.50%, 12/06/48 | &nbsp;&nbsp; 1092 | 966243 |
| 4.75%, 06/25/29 | &nbsp;&nbsp; 1020 | 1027094 |
| 4.85%, 06/25/31<sup>(a)</sup> | &nbsp;&nbsp; 890 | 894397 |
| 4.88%, 06/25/27<sup>(a)</sup> | &nbsp;&nbsp; 540 | 546653 |
| 4.88%, 02/15/44 | &nbsp;&nbsp; 412 | 388084 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 350 | 354551 |
| 4.95%, 09/30/26 | &nbsp;&nbsp; 495 | 500050 |
| 4.95%, 06/25/34 | &nbsp;&nbsp; 970 | 971143 |
| 4.95%, 09/15/52<sup>(a)</sup> | &nbsp;&nbsp; 650 | 611102 |
| 5.15%, 06/25/26 | &nbsp;&nbsp; 740 | 748811 |
| 5.30%, 06/25/54 | &nbsp;&nbsp; 869 | 862867 |
| 5.40%, 09/15/40 | &nbsp;&nbsp; 175 | 177109 |
| 5.40%, 06/25/64 | &nbsp;&nbsp; 285 | 284160 |
| 5.88%, 12/16/36 | &nbsp;&nbsp; 1514 | 1621163 |
| 5.95%, 04/01/41 | &nbsp;&nbsp; 435 | 465798 |
| Target Corp. |  |  |
| 1.95%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 665 | 631764 |
| 2.35%, 02/15/30 | &nbsp;&nbsp; 500 | 446851 |
| 2.50%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 582 | 569192 |
| 2.95%, 01/15/52<sup>(a)</sup> | &nbsp;&nbsp; 1355 | 903043 |
| 3.38%, 04/15/29 | &nbsp;&nbsp; 567 | 541754 |
| 3.63%, 04/15/46 | &nbsp;&nbsp; 376 | 292902 |
| 3.90%, 11/15/47 | &nbsp;&nbsp; 311 | 250877 |
| 4.00%, 07/01/42 | &nbsp;&nbsp; 440 | 379332 |
| 4.40%, 01/15/33 | &nbsp;&nbsp; 230 | 224041 |
| 4.50%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp; 575 | 564327 |
| 4.50%, 09/15/34 | &nbsp;&nbsp; 465 | 450249 |
| 4.80%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp; 565 | 525252 |
| 7.00%, 01/15/38 | &nbsp;&nbsp; 405 | 475690 |
| TJX Companies Inc. (The) |  |  |
| 1.15%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 232 | 207360 |
| 1.60%, 05/15/31 | &nbsp;&nbsp; 95 | 78466 |
| 2.25%, 09/15/26 | &nbsp;&nbsp; 1075 | 1034645 |
| Walmart Inc. |  |  |
| 2.50%, 09/22/41 | &nbsp;&nbsp; 500 | 355581 |
| 2.65%, 09/22/51 | &nbsp;&nbsp; 795 | 512153 |
| 2.95%, 09/24/49 | &nbsp;&nbsp; 315 | 219380 |
| 3.05%, 07/08/26 | &nbsp;&nbsp; 335 | 328165 |
| 3.25%, 07/08/29<sup>(a)</sup> | &nbsp;&nbsp; 503 | 482022 |
| 3.70%, 06/26/28 | &nbsp;&nbsp; 555 | 543780 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 3.90%, 04/15/28 | &nbsp;&nbsp; $310 | $305794 |
| 3.95%, 06/28/38<sup>(a)</sup> | &nbsp;&nbsp; 340 | 311014 |
| 4.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 270 | 268683 |
| 4.00%, 04/15/30 | &nbsp;&nbsp; 525 | 516189 |
| 4.05%, 06/29/48 | &nbsp;&nbsp; 1101 | 939695 |
| 4.10%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 645 | 623591 |
| 4.15%, 09/09/32 | &nbsp;&nbsp; 395 | 385734 |
| 4.50%, 09/09/52 | &nbsp;&nbsp; 490 | 445217 |
| 4.50%, 04/15/53<sup>(a)</sup> | &nbsp;&nbsp; 1110 | 1011159 |
| 5.25%, 09/01/35 | &nbsp;&nbsp; 675 | 704191 |
| 5.63%, 04/01/40 | &nbsp;&nbsp; 155 | 165021 |
| 5.63%, 04/15/41 | &nbsp;&nbsp; 260 | 276087 |
| 6.20%, 04/15/38 | &nbsp;&nbsp; 565 | 634021 |
| 6.50%, 08/15/37 | &nbsp;&nbsp; 485 | 559975 |
|  |  | 41985610 |
| **Semiconductors — 2.1%** | **Semiconductors — 2.1%** | **Semiconductors — 2.1%** |
| Advanced Micro Devices Inc. |  |  |
| 3.92%, 06/01/32 | &nbsp;&nbsp; 545 | 513884 |
| 4.39%, 06/01/52<sup>(a)</sup> | &nbsp;&nbsp; 295 | 258549 |
| Analog Devices Inc. |  |  |
| 1.70%, 10/01/28 | &nbsp;&nbsp; 446 | 400757 |
| 2.10%, 10/01/31 | &nbsp;&nbsp; 595 | 503551 |
| 2.80%, 10/01/41 | &nbsp;&nbsp; 415 | 298773 |
| 2.95%, 10/01/51<sup>(a)</sup> | &nbsp;&nbsp; 780 | 518193 |
| 3.50%, 12/05/26 | &nbsp;&nbsp; 782 | 767256 |
| 5.05%, 04/01/34<sup>(a)</sup> | &nbsp;&nbsp; 275 | 278270 |
| 5.30%, 04/01/54<sup>(a)</sup> | &nbsp;&nbsp; 185 | 184304 |
| Applied Materials Inc. |  |  |
| 1.75%, 06/01/30 | &nbsp;&nbsp; 635 | 544178 |
| 2.75%, 06/01/50 | &nbsp;&nbsp; 407 | 265293 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 790 | 769489 |
| 4.35%, 04/01/47 | &nbsp;&nbsp; 519 | 452566 |
| 4.80%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 515 | 519276 |
| 5.10%, 10/01/35<sup>(a)</sup> | &nbsp;&nbsp; 322 | 327709 |
| 5.85%, 06/15/41 | &nbsp;&nbsp; 635 | 671650 |
| KLA Corp. |  |  |
| 3.30%, 03/01/50 | &nbsp;&nbsp; 330 | 235231 |
| 4.10%, 03/15/29 | &nbsp;&nbsp; 350 | 343838 |
| 4.65%, 07/15/32 | &nbsp;&nbsp; 380 | 376459 |
| 4.70%, 02/01/34 | &nbsp;&nbsp; 155 | 152435 |
| 4.95%, 07/15/52<sup>(a)</sup> | &nbsp;&nbsp; 917 | 860359 |
| 5.25%, 07/15/62<sup>(a)</sup> | &nbsp;&nbsp; 740 | 716897 |
| Lam Research Corp. |  |  |
| 1.90%, 06/15/30 | &nbsp;&nbsp; 575 | 494955 |
| 2.88%, 06/15/50<sup>(a)</sup> | &nbsp;&nbsp; 431 | 285565 |
| 3.13%, 06/15/60 | &nbsp;&nbsp; 467 | 301489 |
| 3.75%, 03/15/26 | &nbsp;&nbsp; 387 | 382961 |
| 4.00%, 03/15/29 | &nbsp;&nbsp; 495 | 484387 |
| 4.88%, 03/15/49 | &nbsp;&nbsp; 572 | 534582 |
| NVIDIA Corp. |  |  |
| 1.55%, 06/15/28 | &nbsp;&nbsp; 780 | 707552 |
| 2.00%, 06/15/31 | &nbsp;&nbsp; 590 | 506309 |
| 2.85%, 04/01/30 | &nbsp;&nbsp; 981 | 904156 |
| 3.20%, 09/16/26 | &nbsp;&nbsp; 439 | 429924 |
| 3.50%, 04/01/40 | &nbsp;&nbsp; 385 | 324994 |
| 3.50%, 04/01/50 | &nbsp;&nbsp; 1352 | 1052754 |
| 3.70%, 04/01/60 | &nbsp;&nbsp; 245 | 188956 |
| Qualcomm Inc. |  |  |
| 1.30%, 05/20/28 | &nbsp;&nbsp; 407 | 364326 |
| 1.65%, 05/20/32 | &nbsp;&nbsp; 775 | 621489 |
| 2.15%, 05/20/30 | &nbsp;&nbsp; 723 | 635335 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| 3.25%, 05/20/27 | &nbsp;&nbsp; $1300 | $1261946 |
| 3.25%, 05/20/50 | &nbsp;&nbsp; 358 | 252965 |
| 4.25%, 05/20/32<sup>(a)</sup> | &nbsp;&nbsp; 255 | 246641 |
| 4.30%, 05/20/47 | &nbsp;&nbsp; 729 | 620325 |
| 4.50%, 05/20/52<sup>(a)</sup> | &nbsp;&nbsp; 530 | 460833 |
| 4.65%, 05/20/35 | &nbsp;&nbsp; 711 | 695973 |
| 4.80%, 05/20/45 | &nbsp;&nbsp; 747 | 688273 |
| 5.40%, 05/20/33 | &nbsp;&nbsp; 350 | 364249 |
| 6.00%, 05/20/53 | &nbsp;&nbsp; 640 | 688251 |
| Texas Instruments Inc. |  |  |
| 1.13%, 09/15/26 | &nbsp;&nbsp; 575 | 541929 |
| 1.75%, 05/04/30 | &nbsp;&nbsp; 584 | 502168 |
| 1.90%, 09/15/31 | &nbsp;&nbsp; 264 | 223100 |
| 2.25%, 09/04/29 | &nbsp;&nbsp; 400 | 360509 |
| 2.70%, 09/15/51 | &nbsp;&nbsp; 245 | 155355 |
| 2.90%, 11/03/27<sup>(a)</sup> | &nbsp;&nbsp; 156 | 149492 |
| 3.88%, 03/15/39 | &nbsp;&nbsp; 460 | 405337 |
| 4.15%, 05/15/48 | &nbsp;&nbsp; 896 | 757760 |
| 4.60%, 02/08/27 | &nbsp;&nbsp; 355 | 357008 |
| 4.60%, 02/15/28 | &nbsp;&nbsp; 635 | 638659 |
| 4.60%, 02/08/29 | &nbsp;&nbsp; 165 | 165478 |
| 4.85%, 02/08/34 | &nbsp;&nbsp; 155 | 155294 |
| 4.90%, 03/14/33 | &nbsp;&nbsp; 655 | 662370 |
| 5.00%, 03/14/53 | &nbsp;&nbsp; 715 | 684004 |
| 5.05%, 05/18/63 | &nbsp;&nbsp; 845 | 795802 |
| 5.15%, 02/08/54 | &nbsp;&nbsp; 375 | 366617 |
| TSMC Arizona Corp. |  |  |
| 1.75%, 10/25/26 | &nbsp;&nbsp; 848 | 800883 |
| 2.50%, 10/25/31 | &nbsp;&nbsp; 1288 | 1115659 |
| 3.13%, 10/25/41 | &nbsp;&nbsp; 360 | 284817 |
| 3.25%, 10/25/51 | &nbsp;&nbsp; 375 | 280978 |
| 3.88%, 04/22/27 | &nbsp;&nbsp; 405 | 397684 |
| 4.13%, 04/22/29 | &nbsp;&nbsp; 165 | 161165 |
| 4.25%, 04/22/32 | &nbsp;&nbsp; 265 | 256716 |
| 4.50%, 04/22/52 | &nbsp;&nbsp; 325 | 310745 |
| Xilinx Inc., 2.38%, 06/01/30 | &nbsp;&nbsp; 278 | 246183 |
|  |  | 34233819 |
| **Software — 1.6%** | **Software — 1.6%** | **Software — 1.6%** |
| Adobe Inc. |  |  |
| 2.15%, 02/01/27 | &nbsp;&nbsp; 399 | 380336 |
| 2.30%, 02/01/30 | &nbsp;&nbsp; 605 | 541460 |
| 4.80%, 04/04/29 | &nbsp;&nbsp; 360 | 364573 |
| 4.85%, 04/04/27 | &nbsp;&nbsp; 450 | 454816 |
| 4.95%, 04/04/34 | &nbsp;&nbsp; 555 | 558233 |
| Cadence Design Systems Inc. |  |  |
| 4.20%, 09/10/27 | &nbsp;&nbsp; 150 | 148853 |
| 4.30%, 09/10/29 | &nbsp;&nbsp; 275 | 269842 |
| 4.70%, 09/10/34 | &nbsp;&nbsp; 230 | 224243 |
| Intuit Inc. |  |  |
| 1.35%, 07/15/27 | &nbsp;&nbsp; 180 | 166055 |
| 1.65%, 07/15/30 | &nbsp;&nbsp; 555 | 470510 |
| 5.13%, 09/15/28 | &nbsp;&nbsp; 330 | 337182 |
| 5.20%, 09/15/33 | &nbsp;&nbsp; 635 | 647308 |
| 5.25%, 09/15/26 | &nbsp;&nbsp; 370 | 375215 |
| 5.50%, 09/15/53<sup>(a)</sup> | &nbsp;&nbsp; 1035 | 1053353 |
| Microsoft Corp. |  |  |
| 2.40%, 08/08/26 | &nbsp;&nbsp; 1826 | 1767513 |
| 2.50%, 09/15/50 | &nbsp;&nbsp; 1390 | 882344 |
| 2.53%, 06/01/50 | &nbsp;&nbsp; 2554 | 1636278 |
| 2.68%, 06/01/60 | &nbsp;&nbsp; 1693 | 1033927 |
| 2.92%, 03/17/52 | &nbsp;&nbsp; 2654 | 1831426 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| 3.04%, 03/17/62 | &nbsp;&nbsp; $789 | $527290 |
| 3.13%, 11/03/25 | &nbsp;&nbsp; 1114 | 1099709 |
| 3.30%, 02/06/27 | &nbsp;&nbsp; 1662 | 1628770 |
| 3.40%, 09/15/26 | &nbsp;&nbsp; 895 | 880711 |
| 3.45%, 08/08/36 | &nbsp;&nbsp; 895 | 792414 |
| 3.50%, 02/12/35<sup>(a)</sup> | &nbsp;&nbsp; 765 | 702634 |
| 3.70%, 08/08/46 | &nbsp;&nbsp; 714 | 594545 |
| 4.00%, 02/12/55<sup>(a)</sup> | &nbsp;&nbsp; 255 | 219436 |
| 4.10%, 02/06/37 | &nbsp;&nbsp; 363 | 344505 |
| 4.20%, 11/03/35<sup>(a)</sup> | &nbsp;&nbsp; 430 | 416461 |
| 4.25%, 02/06/47<sup>(a)</sup> | &nbsp;&nbsp; 670 | 625795 |
| 4.45%, 11/03/45 | &nbsp;&nbsp; 785 | 743223 |
| 4.50%, 02/06/57 | &nbsp;&nbsp; 300 | 281782 |
| 5.20%, 06/01/39<sup>(a)</sup> | &nbsp;&nbsp; 390 | 413857 |
| 5.30%, 02/08/41<sup>(a)</sup> | &nbsp;&nbsp; 285 | 316808 |
| Salesforce Inc. |  |  |
| 1.50%, 07/15/28 | &nbsp;&nbsp; 495 | 446412 |
| 1.95%, 07/15/31 | &nbsp;&nbsp; 985 | 833377 |
| 2.70%, 07/15/41 | &nbsp;&nbsp; 720 | 520331 |
| 2.90%, 07/15/51 | &nbsp;&nbsp; 835 | 552623 |
| 3.05%, 07/15/61 | &nbsp;&nbsp; 475 | 301989 |
| 3.70%, 04/11/28 | &nbsp;&nbsp; 913 | 892306 |
| ServiceNow Inc., 1.40%, 09/01/30 | &nbsp;&nbsp; 715 | 597181 |
|  |  | 26875626 |
| **Telecommunications — 0.9%** | **Telecommunications — 0.9%** | **Telecommunications — 0.9%** |
| America Movil SAB de CV |  |  |
| 2.88%, 05/07/30 | &nbsp;&nbsp; 405 | 363554 |
| 3.63%, 04/22/29 | &nbsp;&nbsp; 373 | 353178 |
| 4.38%, 07/16/42 | &nbsp;&nbsp; 529 | 456256 |
| 4.38%, 04/22/49<sup>(a)</sup> | &nbsp;&nbsp; 670 | 566693 |
| 4.70%, 07/21/32 | &nbsp;&nbsp; 278 | 269679 |
| 6.13%, 03/30/40 | &nbsp;&nbsp; 1087 | 1140107 |
| 6.38%, 03/01/35 | &nbsp;&nbsp; 477 | 515222 |
| Cisco Systems Inc. |  |  |
| 2.50%, 09/20/26 | &nbsp;&nbsp; 948 | 917709 |
| 2.95%, 02/28/26 | &nbsp;&nbsp; 297 | 291404 |
| 4.80%, 02/26/27 | &nbsp;&nbsp; 1125 | 1134632 |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 1145 | 1159255 |
| 4.90%, 02/26/26 | &nbsp;&nbsp; 785 | 790286 |
| 4.95%, 02/26/31 | &nbsp;&nbsp; 1130 | 1144966 |
| 5.05%, 02/26/34 | &nbsp;&nbsp; 620 | 630384 |
| 5.30%, 02/26/54<sup>(a)</sup> | &nbsp;&nbsp; 975 | 980573 |
| 5.35%, 02/26/64 | &nbsp;&nbsp; 615 | 616616 |
| 5.50%, 01/15/40 | &nbsp;&nbsp; 1596 | 1646934 |
| 5.90%, 02/15/39 | &nbsp;&nbsp; 1008 | 1084457 |
|  |  | 14061905 |
| **Transportation — 2.5%** | **Transportation — 2.5%** | **Transportation — 2.5%** |
| Burlington Northern Santa Fe LLC |  |  |
| 2.88%, 06/15/52 | &nbsp;&nbsp; 290 | 188001 |
| 3.05%, 02/15/51 | &nbsp;&nbsp; 275 | 187039 |
| 3.25%, 06/15/27 | &nbsp;&nbsp; 554 | 538476 |
| 3.30%, 09/15/51 | &nbsp;&nbsp; 406 | 289443 |
| 3.55%, 02/15/50 | &nbsp;&nbsp; 406 | 306363 |
| 3.90%, 08/01/46 | &nbsp;&nbsp; 268 | 216527 |
| 4.05%, 06/15/48 | &nbsp;&nbsp; 393 | 325488 |
| 4.13%, 06/15/47 | &nbsp;&nbsp; 545 | 455719 |
| 4.15%, 04/01/45 | &nbsp;&nbsp; 512 | 433600 |
| 4.15%, 12/15/48 | &nbsp;&nbsp; 310 | 258879 |
| 4.38%, 09/01/42 | &nbsp;&nbsp; 422 | 375354 |
| 4.40%, 03/15/42 | &nbsp;&nbsp; 267 | 238616 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| 4.45%, 03/15/43 | &nbsp;&nbsp; $367 | $328149 |
| 4.45%, 01/15/53 | &nbsp;&nbsp; 415 | 362837 |
| 4.55%, 09/01/44 | &nbsp;&nbsp; 435 | 390932 |
| 4.70%, 09/01/45 | &nbsp;&nbsp; 303 | 275661 |
| 4.90%, 04/01/44 | &nbsp;&nbsp; 444 | 417842 |
| 5.05%, 03/01/41 | &nbsp;&nbsp; 202 | 195951 |
| 5.15%, 09/01/43 | &nbsp;&nbsp; 299 | 294917 |
| 5.20%, 04/15/54<sup>(a)</sup> | &nbsp;&nbsp; 985 | 966690 |
| 5.40%, 06/01/41 | &nbsp;&nbsp; 310 | 311727 |
| 5.50%, 03/15/55 | &nbsp;&nbsp; 665 | 678481 |
| 5.75%, 05/01/40 | &nbsp;&nbsp; 346 | 362979 |
| 6.15%, 05/01/37 | &nbsp;&nbsp; 325 | 355377 |
| Canadian National Railway Co. |  |  |
| 2.45%, 05/01/50 | &nbsp;&nbsp; 235 | 143245 |
| 2.75%, 03/01/26 | &nbsp;&nbsp; 321 | 313511 |
| 3.20%, 08/02/46 | &nbsp;&nbsp; 401 | 292047 |
| 3.65%, 02/03/48 | &nbsp;&nbsp; 221 | 172715 |
| 3.85%, 08/05/32 | &nbsp;&nbsp; 390 | 364971 |
| 4.38%, 09/18/34 | &nbsp;&nbsp; 535 | 512064 |
| 4.40%, 08/05/52 | &nbsp;&nbsp; 670 | 585909 |
| 4.45%, 01/20/49 | &nbsp;&nbsp; 276 | 243565 |
| 6.25%, 08/01/34<sup>(a)</sup> | &nbsp;&nbsp; 225 | 247540 |
| CSX Corp. |  |  |
| 2.60%, 11/01/26 | &nbsp;&nbsp; 680 | 655872 |
| 3.25%, 06/01/27 | &nbsp;&nbsp; 115 | 111557 |
| 3.35%, 09/15/49 | &nbsp;&nbsp; 120 | 86505 |
| 3.80%, 03/01/28 | &nbsp;&nbsp; 150 | 146402 |
| 3.80%, 11/01/46 | &nbsp;&nbsp; 665 | 525422 |
| 3.80%, 04/15/50 | &nbsp;&nbsp; 65 | 50956 |
| 3.95%, 05/01/50 | &nbsp;&nbsp; 200 | 161196 |
| 4.10%, 11/15/32 | &nbsp;&nbsp; 645 | 613662 |
| 4.10%, 03/15/44 | &nbsp;&nbsp; 230 | 193999 |
| 4.25%, 03/15/29 | &nbsp;&nbsp; 280 | 276020 |
| 4.25%, 11/01/66 | &nbsp;&nbsp; 765 | 605247 |
| 4.30%, 03/01/48 | &nbsp;&nbsp; 250 | 212945 |
| 4.50%, 11/15/52 | &nbsp;&nbsp; 555 | 485508 |
| 4.65%, 03/01/68 | &nbsp;&nbsp; 590 | 501760 |
| 4.75%, 05/30/42 | &nbsp;&nbsp; 90 | 83284 |
| 4.75%, 11/15/48 | &nbsp;&nbsp; 240 | 218283 |
| 4.90%, 03/15/55 | &nbsp;&nbsp; 285 | 263972 |
| 5.20%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp; 530 | 540571 |
| 6.15%, 05/01/37 | &nbsp;&nbsp; 130 | 140851 |
| 6.22%, 04/30/40 | &nbsp;&nbsp; 5 | 5461 |
| FedEx Corp. Pass-Through Trust, Series 2020-1, <br> Class AA, 1.88%, 08/20/35<br>| &nbsp;&nbsp; 381 | 321588 |
| Union Pacific Corp. |  |  |
| 2.15%, 02/05/27 | &nbsp;&nbsp; 120 | 114193 |
| 2.38%, 05/20/31 | &nbsp;&nbsp; 1195 | 1041704 |
| 2.40%, 02/05/30 | &nbsp;&nbsp; 540 | 482913 |
| 2.75%, 03/01/26 | &nbsp;&nbsp; 255 | 249092 |
| 2.80%, 02/14/32 | &nbsp;&nbsp; 655 | 577264 |
| 2.89%, 04/06/36<sup>(a)</sup> | &nbsp;&nbsp; 255 | 209189 |
| 2.95%, 03/10/52 | &nbsp;&nbsp; 380 | 252087 |
| 2.97%, 09/16/62 | &nbsp;&nbsp; 780 | 473385 |
| 3.00%, 04/15/27 | &nbsp;&nbsp; 385 | 371868 |
| 3.20%, 05/20/41 | &nbsp;&nbsp; 440 | 339274 |
| 3.25%, 02/05/50 | &nbsp;&nbsp; 1505 | 1072839 |
| 3.38%, 02/14/42<sup>(a)</sup> | &nbsp;&nbsp; 225 | 176279 |
| 3.50%, 02/14/53 | &nbsp;&nbsp; 855 | 629281 |
| 3.55%, 08/15/39 | &nbsp;&nbsp; 250 | 207562 |
| 3.55%, 05/20/61 | &nbsp;&nbsp; 220 | 155049 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| 3.60%, 09/15/37 | &nbsp;&nbsp; $285 | $244183 |
| 3.70%, 03/01/29 | &nbsp;&nbsp; 420 | 405981 |
| 3.75%, 02/05/70 | &nbsp;&nbsp; 275 | 195159 |
| 3.80%, 10/01/51 | &nbsp;&nbsp; 480 | 374427 |
| 3.80%, 04/06/71 | &nbsp;&nbsp; 335 | 240744 |
| 3.84%, 03/20/60 | &nbsp;&nbsp; 955 | 716110 |
| 3.85%, 02/14/72 | &nbsp;&nbsp; 165 | 120338 |
| 3.95%, 09/10/28 | &nbsp;&nbsp; 870 | 851657 |
| 3.95%, 08/15/59 | &nbsp;&nbsp; 330 | 253833 |
| 4.00%, 04/15/47 | &nbsp;&nbsp; 210 | 171072 |
| 4.05%, 03/01/46 | &nbsp;&nbsp; 215 | 178445 |
| 4.10%, 09/15/67 | &nbsp;&nbsp; 165 | 127181 |
| 4.30%, 03/01/49 | &nbsp;&nbsp; 240 | 205315 |
| 4.50%, 01/20/33<sup>(a)</sup> | &nbsp;&nbsp; 985 | 964170 |
| 4.75%, 02/21/26 | &nbsp;&nbsp; 340 | 340884 |
| 4.95%, 09/09/52 | &nbsp;&nbsp; 380 | 361481 |
| 4.95%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 215 | 204177 |
| United Parcel Service Inc. |  |  |
| 2.40%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 409 | 392825 |
| 3.05%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 665 | 638271 |
| 3.40%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 373 | 356026 |
| 3.40%, 11/15/46 | &nbsp;&nbsp; 260 | 195171 |
| 3.40%, 09/01/49 | &nbsp;&nbsp; 548 | 402405 |
| 3.75%, 11/15/47 | &nbsp;&nbsp; 598 | 465282 |
| 4.25%, 03/15/49 | &nbsp;&nbsp; 323 | 271645 |
| 4.45%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 526 | 522211 |
| 4.88%, 03/03/33<sup>(a)</sup> | &nbsp;&nbsp; 455 | 456183 |
| 4.88%, 11/15/40 | &nbsp;&nbsp; 554 | 529366 |
| 5.05%, 03/03/53<sup>(a)</sup> | &nbsp;&nbsp; 500 | 475973 |
| 5.15%, 05/22/34<sup>(a)</sup> | &nbsp;&nbsp; 350 | 355591 |
| 5.20%, 04/01/40 | &nbsp;&nbsp; 258 | 255446 |
| 5.30%, 04/01/50 | &nbsp;&nbsp; 749 | 741970 |
| 5.50%, 05/22/54<sup>(a)</sup> | &nbsp;&nbsp; 850 | 866633 |
| 5.60%, 05/22/64 | &nbsp;&nbsp; 410 | 416516 |
| 6.20%, 01/15/38 | &nbsp;&nbsp; 536 | 587411 |
| Walmart Inc. |  |  |
| 1.05%, 09/17/26 | &nbsp;&nbsp; 795 | 749217 |
| 1.50%, 09/22/28 | &nbsp;&nbsp; 532 | 478810 |
| 1.80%, 09/22/31<sup>(a)</sup> | &nbsp;&nbsp; 875 | 738915 |
| 3.95%, 09/09/27 | &nbsp;&nbsp; 852 | 844120 |
|  |  | 40878799 |
| **Total Long-Term Investments — 98.4%** <br>**(Cost: $1,706,778,548)** | **Total Long-Term Investments — 98.4%** <br>**(Cost: $1,706,778,548)** | 1624043367 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 8.6%** | **Money Market Funds — 8.6%** | **Money Market Funds — 8.6%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 138735304 | 138832419 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Aaa - A Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 3680000 | $3680000 |
| **Total Short-Term Securities — 8.6%** <br>**(Cost: $142,442,059)** | **Total Short-Term Securities — 8.6%** <br>**(Cost: $142,442,059)** | 142512419 |
| **Total Investments — 107.0%** <br>**(Cost: $1,849,220,607)** | **Total Investments — 107.0%** <br>**(Cost: $1,849,220,607)** | 1766555786 |
| **Liabilities in Excess of Other Assets — (7.0)%** | **Liabilities in Excess of Other Assets — (7.0)%** | (114917074)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1651638712 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $70985244<br> $67819306 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(4821)<br>| $32690 | $138832419 | 138735304 | $270912 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 1320000<br> 2360000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 3680000 | 3680000 | 196315 | &nbsp;&nbsp; — |
|  |  |  | $(4821)<br>| $32690 | $142512419 |  | $467227 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1624043367 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1624043367 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 142512419 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 142512419 |
|  | &nbsp;&nbsp; $142512419 | &nbsp;&nbsp; $1624043367 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1766555786 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.4%** | **Advertising — 0.4%** | **Advertising — 0.4%** |
| Lamar Media Corp. |  |  |
| 3.63%, 01/15/31 | &nbsp;&nbsp; $280 | $249900 |
| 3.75%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 345 | 327945 |
| 4.00%, 02/15/30 | &nbsp;&nbsp; 286 | 264401 |
| 4.88%, 01/15/29 | &nbsp;&nbsp; 200 | 194460 |
| Outfront Media Capital LLC/Outfront Media Capital <br> Corp., 7.38%, 02/15/31<sup>(b)</sup><br>| &nbsp;&nbsp; 275 | 290399 |
|  |  | 1327105 |
| **Aerospace & Defense — 1.9%** | **Aerospace & Defense — 1.9%** | **Aerospace & Defense — 1.9%** |
| AAR Escrow Issuer LLC, 6.75%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 315 | 321999 |
| Moog Inc., 4.25%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 260 | 247867 |
| Spirit AeroSystems Inc. |  |  |
| 3.85%, 06/15/26 | &nbsp;&nbsp; 151 | 146468 |
| 9.38%, 11/30/29<sup>(b)</sup> | &nbsp;&nbsp; 450 | 485330 |
| TransDigm Inc. |  |  |
| 6.00%, 01/15/33<sup>(b)</sup> | &nbsp;&nbsp; 795 | 788055 |
| 6.38%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 1434 | 1455567 |
| 6.63%, 03/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 1160 | 1179638 |
| 6.75%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 1098 | 1121564 |
| 6.88%, 12/15/30<sup>(b)</sup> | &nbsp;&nbsp; 713 | 730881 |
| 7.13%, 12/01/31<sup>(b)</sup> | &nbsp;&nbsp; 525 | 543256 |
|  |  | 7020625 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| Darling Ingredients Inc. |  |  |
| 5.25%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 262 | 259463 |
| 6.00%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 511 | 507487 |
|  |  | 766950 |
| **Airlines — 2.0%** | **Airlines — 2.0%** | **Airlines — 2.0%** |
| Air Canada, 3.88%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 658 | 636539 |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 305 | 300427 |
| American Airlines Inc. |  |  |
| 7.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 396 | 402513 |
| 8.50%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 515 | 541230 |
| American Airlines Inc./AAdvantage Loyalty IP Ltd. |  |  |
| 5.50%, 04/20/26<sup>(b)</sup> | &nbsp;&nbsp; 912 | 909758 |
| 5.75%, 04/20/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 1551 | 1535599 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(b)</sup><br>| &nbsp;&nbsp; 1031 | 1071383 |
| United Airlines Inc. |  |  |
| 4.38%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 1008 | 990587 |
| 4.63%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 1045 | 1000174 |
|  |  | 7388210 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| Kontoor Brands Inc., 4.13%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 220 | 205049 |
| Levi Strauss & Co., 3.50%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 265 | 234076 |
| Under Armour Inc., 3.25%, 06/15/26 | &nbsp;&nbsp; 283 | 272192 |
| VF Corp. |  |  |
| 2.80%, 04/23/27 | &nbsp;&nbsp; 250 | 236072 |
| 2.95%, 04/23/30<sup>(a)</sup> | &nbsp;&nbsp; 375 | 323830 |
| 6.00%, 10/15/33 | &nbsp;&nbsp; 155 | 155158 |
| 6.45%, 11/01/37 | &nbsp;&nbsp; 155 | 158094 |
| William Carter Co. (The), 5.63%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 280 | 278357 |
|  |  | 1862828 |
| **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** |
| Allison Transmission Inc. |  |  |
| 3.75%, 01/30/31<sup>(b)</sup> | &nbsp;&nbsp; 550 | 488107 |
| 4.75%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 190 | 185297 |
| 5.88%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 217 | 216257 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| Jaguar Land Rover Automotive PLC |  |  |
| 4.50%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; $240 | $232031 |
| 5.50%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 235 | 229336 |
| 5.88%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 320 | 316424 |
| 7.75%, 10/15/25<sup>(b)</sup> | &nbsp;&nbsp; 390 | 389749 |
|  |  | 2057201 |
| **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** |
| Adient Global Holdings Ltd., 7.00%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 273 | 277536 |
| Clarios Global LP/Clarios U.S. Finance Co., 6.75%, <br> 05/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 345 | 353152 |
| Dana Inc. |  |  |
| 4.25%, 09/01/30 | &nbsp;&nbsp; 239 | 208984 |
| 4.50%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 171076 |
| 5.38%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 222 | 217138 |
| 5.63%, 06/15/28 | &nbsp;&nbsp; 180 | 174704 |
| IHO Verwaltungs GmbH |  |  |
| 6.38%, 05/15/29, (6.38% cash)<sup>(b)(c)</sup> | &nbsp;&nbsp; 225 | 217514 |
| 7.75%, 11/15/30, (7.75% cash and 8.50% PIK)<sup>(b)(c)</sup> | &nbsp;&nbsp; 200 | 200008 |
| 8.00%, 11/15/32, (8.00% cash and 8.75% PIK)<sup>(b)(c)</sup> | &nbsp;&nbsp; 200 | 200654 |
| Phinia Inc. |  |  |
| 6.63%, 10/15/32<sup>(b)</sup> | &nbsp;&nbsp; 240 | 239210 |
| 6.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 315 | 321554 |
| ZF North America Capital Inc. |  |  |
| 6.75%, 04/23/30<sup>(b)</sup> | &nbsp;&nbsp; 360 | 354864 |
| 6.88%, 04/14/28<sup>(b)</sup> | &nbsp;&nbsp; 340 | 342939 |
| 6.88%, 04/23/32<sup>(b)</sup> | &nbsp;&nbsp; 355 | 346801 |
| 7.13%, 04/14/30<sup>(b)</sup> | &nbsp;&nbsp; 320 | 321833 |
|  |  | 3947967 |
| **Banks — 1.5%** | **Banks — 1.5%** | **Banks — 1.5%** |
| Banc of California, 3.25%, 05/01/31, <br> (3-mo. CME Term SOFR + 2.520%)<sup>(d)</sup><br>| &nbsp;&nbsp; 205 | 187292 |
| Dresdner Funding Trust I, 8.15%, 06/30/31<sup>(b)</sup> | &nbsp;&nbsp; 515 | 571798 |
| Intesa Sanpaolo SpA |  |  |
| 4.20%, 06/01/32, (1-year CMT + 2.600%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 425 | 372131 |
| 4.95%, 06/01/42, (1-year CMT + 2.750%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 405 | 314039 |
| 5.71%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 680 | 680867 |
| Popular Inc., 7.25%, 03/13/28 | &nbsp;&nbsp; 215 | 222736 |
| Standard Chartered PLC, 7.01%, <br> (3-mo. LIBOR US + 1.460%)<sup>(a)(b)(d)(e)</sup><br>| &nbsp;&nbsp; 410 | 435930 |
| Texas Capital Bancshares Inc., 4.00%, 05/06/31, <br> (5-year CMT + 3.150%)<sup>(d)</sup><br>| &nbsp;&nbsp; 190 | 180470 |
| UniCredit SpA |  |  |
| 5.46%, 06/30/35, (5-year CMT + 4.750%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 795 | 766794 |
| 5.86%, 06/19/32, <br> (5-year USD ICE Swap + 3.703%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 515 | 513151 |
| 7.30%, 04/02/34, <br> (5-year USD ICE Swap + 4.914%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 695 | 727294 |
| Valley National Bancorp., 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.36%)<sup>(d)</sup><br>| &nbsp;&nbsp; 165 | 140434 |
| Western Alliance Bancorp, 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.250%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 345 | 318714 |
|  |  | 5431650 |
| **Building Materials — 2.6%** | **Building Materials — 2.6%** | **Building Materials — 2.6%** |
| Boise Cascade Co., 4.88%, 07/01/30<sup>(b)</sup> | &nbsp;&nbsp; 230 | 218195 |
| Builders FirstSource Inc. |  |  |
| 4.25%, 02/01/32<sup>(b)</sup> | &nbsp;&nbsp; 705 | 630684 |
| 5.00%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; 295 | 281831 |
| 6.38%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 374 | 376113 |
| 6.38%, 03/01/34<sup>(b)</sup> | &nbsp;&nbsp; 515 | 519150 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| EMRLD Borrower LP/Emerald Co-Issuer Inc. |  |  |
| 6.63%, 12/15/30<sup>(b)</sup> | &nbsp;&nbsp; $1467 | $1491973 |
| 6.75%, 07/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 275 | 281130 |
| Knife River Corp., 7.75%, 05/01/31<sup>(b)</sup> | &nbsp;&nbsp; 263 | 275522 |
| Louisiana-Pacific Corp., 3.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 196765 |
| Masterbrand Inc., 7.00%, 07/15/32<sup>(b)</sup> | &nbsp;&nbsp; 390 | 399490 |
| Miter Brands Acquisition Holdco Inc./MIWD <br> Borrower LLC, 6.75%, 04/01/32<sup>(b)</sup><br>| &nbsp;&nbsp; 390 | 396727 |
| Smyrna Ready Mix Concrete LLC |  |  |
| 6.00%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 570 | 565307 |
| 8.88%, 11/15/31<sup>(b)</sup> | &nbsp;&nbsp; 575 | 603975 |
| Standard Industries Inc./New York |  |  |
| 3.38%, 01/15/31<sup>(b)</sup> | &nbsp;&nbsp; 604 | 524326 |
| 4.38%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp; 845 | 776519 |
| 4.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 510 | 491883 |
| 5.00%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 426 | 417177 |
| 6.50%, 08/15/32<sup>(b)</sup> | &nbsp;&nbsp; 239 | 240487 |
| Summit Materials LLC/Summit Materials <br> Finance Corp.<br>|  |  |
| 5.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 341 | 338065 |
| 6.50%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 170 | 169973 |
| 7.25%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 436365 |
|  |  | 9631657 |
| **Chemicals — 2.2%** | **Chemicals — 2.2%** | **Chemicals — 2.2%** |
| Ashland Inc. |  |  |
| 3.38%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 240 | 207582 |
| 6.88%, 05/15/43 | &nbsp;&nbsp; 153 | 162370 |
| Avient Corp. |  |  |
| 6.25%, 11/01/31<sup>(b)</sup> | &nbsp;&nbsp; 330 | 330965 |
| 7.13%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 415 | 426779 |
| Axalta Coating Systems Dutch Holding B BV, 7.25%, <br> 02/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 300 | 313513 |
| Axalta Coating Systems LLC, 3.38%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 375 | 344903 |
| Axalta Coating Systems LLC/Axalta Coating Systems <br> Dutch Holding B BV, 4.75%, 06/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 300 | 294005 |
| Element Solutions Inc., 3.88%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 465 | 447940 |
| HB Fuller Co. |  |  |
| 4.00%, 02/15/27 | &nbsp;&nbsp; 150 | 145865 |
| 4.25%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 145 | 137399 |
| INEOS Finance PLC |  |  |
| 6.75%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 265 | 267524 |
| 7.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 275 | 283717 |
| INEOS Quattro Finance 2 PLC, 9.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 264831 |
| Ingevity Corp., 3.88%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 295 | 271461 |
| Methanex Corp. |  |  |
| 5.13%, 10/15/27 | &nbsp;&nbsp; 370 | 360084 |
| 5.25%, 12/15/29 | &nbsp;&nbsp; 375 | 361915 |
| 5.65%, 12/01/44 | &nbsp;&nbsp; 165 | 145972 |
| Minerals Technologies Inc., 5.00%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 215 | 208013 |
| NOVA Chemicals Corp. |  |  |
| 4.25%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 291 | 265105 |
| 5.25%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 575 | 564359 |
| 8.50%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 220 | 233257 |
| 9.00%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 352 | 374905 |
| Nufarm Australia Ltd./Nufarm Americas Inc., 5.00%, <br> 01/27/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 185 | 171433 |
| OCI NV, 6.70%, 03/16/33<sup>(b)</sup> | &nbsp;&nbsp; 320 | 319180 |
| Olin Corp. |  |  |
| 5.00%, 02/01/30 | &nbsp;&nbsp; 268 | 255786 |
| 5.13%, 09/15/27 | &nbsp;&nbsp; 260 | 256429 |
| 5.63%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 343 | 338163 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| SNF Group SACA |  |  |
| 3.13%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; $205 | $195015 |
| 3.38%, 03/15/30<sup>(b)</sup> | &nbsp;&nbsp; 215 | 192732 |
|  |  | 8141202 |
| **Coal — 0.2%** | **Coal — 0.2%** | **Coal — 0.2%** |
| Alliance Resource Operating Partners LP/Alliance <br> Resource Finance Corp., 8.63%, 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 237538 |
| Coronado Finance Pty Ltd., 9.25%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 182 | 186193 |
| SunCoke Energy Inc., 4.88%, 06/30/29<sup>(b)</sup> | &nbsp;&nbsp; 257 | 232063 |
|  |  | 655794 |
| **Commercial Services — 4.8%** | **Commercial Services — 4.8%** | **Commercial Services — 4.8%** |
| ADT Security Corp. (The) |  |  |
| 4.13%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 550 | 514273 |
| 4.88%, 07/15/32<sup>(b)</sup> | &nbsp;&nbsp; 391 | 364383 |
| Adtalem Global Education Inc., 5.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 244725 |
| Albion Financing 1 SARL/Aggreko Holdings Inc., <br> 6.13%, 10/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 295 | 295233 |
| AMN Healthcare Inc. |  |  |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 189 | 174182 |
| 4.63%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 251 | 241840 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 590 | 591186 |
| Block Inc. |  |  |
| 2.75%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 510 | 491040 |
| 3.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 550 | 487549 |
| 6.50%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 1075 | 1094097 |
| Boost Newco Borrower LLC, 7.50%, 01/15/31<sup>(b)</sup> | &nbsp;&nbsp; 1160 | 1222895 |
| Brink's Co. (The) |  |  |
| 4.63%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 330 | 321260 |
| 6.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 229511 |
| 6.75%, 06/15/32<sup>(b)</sup> | &nbsp;&nbsp; 220 | 224049 |
| CoreCivic Inc., 8.25%, 04/15/29 | &nbsp;&nbsp; 265 | 278290 |
| Dcli Bidco LLC, 7.75%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 254226 |
| GEO Group Inc. (The), 8.63%, 04/15/29 | &nbsp;&nbsp; 335 | 350412 |
| Graham Holdings Co., 5.75%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 245 | 244843 |
| Grand Canyon University, 5.13%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 210 | 196590 |
| Herc Holdings Inc. |  |  |
| 5.50%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 626 | 621874 |
| 6.63%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 429729 |
| Hertz Corp. (The), 12.63%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 415 | 440031 |
| Korn Ferry, 4.63%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 245 | 238881 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc.<br>|  |  |
| 3.38%, 08/31/27<sup>(b)</sup> | &nbsp;&nbsp; 520 | 489371 |
| 5.75%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 689 | 689165 |
| Service Corp. International/U.S. |  |  |
| 3.38%, 08/15/30 | &nbsp;&nbsp; 414 | 366890 |
| 4.00%, 05/15/31 | &nbsp;&nbsp; 428 | 385994 |
| 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 310 | 303563 |
| 5.13%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 434 | 425817 |
| 5.75%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 410 | 402755 |
| Shift4 Payments LLC/Shift4 Payments Finance <br> Sub Inc.<br>|  |  |
| 4.63%, 11/01/26<sup>(b)</sup> | &nbsp;&nbsp; 205 | 201571 |
| 6.75%, 08/15/32<sup>(b)</sup> | &nbsp;&nbsp; 590 | 605339 |
| TriNet Group Inc. |  |  |
| 3.50%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 260 | 236420 |
| 7.13%, 08/15/31<sup>(b)</sup> | &nbsp;&nbsp; 245 | 250910 |
| United Rentals North America Inc. |  |  |
| 3.75%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 395 | 350258 |
| 3.88%, 11/15/27 | &nbsp;&nbsp; 398 | 383131 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| 3.88%, 02/15/31 | &nbsp;&nbsp; $590 | $535244 |
| 4.00%, 07/15/30 | &nbsp;&nbsp; 388 | 358318 |
| 4.88%, 01/15/28 | &nbsp;&nbsp; 870 | 851752 |
| 5.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 393 | 386811 |
| 5.50%, 05/15/27 | &nbsp;&nbsp; 255 | 254511 |
| 6.13%, 03/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 575 | 579798 |
|  |  | 17608717 |
| **Computers — 1.4%** | **Computers — 1.4%** | **Computers — 1.4%** |
| ASGN Inc., 4.63%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 325 | 310348 |
| Crane NXT Co., 4.20%, 03/15/48 | &nbsp;&nbsp; 200 | 138264 |
| Crowdstrike Holdings Inc., 3.00%, 02/15/29 | &nbsp;&nbsp; 410 | 372827 |
| Insight Enterprises Inc., 6.63%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 246 | 251490 |
| KBR Inc., 4.75%, 09/30/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 119531 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 699 | 769323 |
| Seagate HDD Cayman |  |  |
| 4.09%, 06/01/29 | &nbsp;&nbsp; 239 | 225341 |
| 4.13%, 01/15/31 | &nbsp;&nbsp; 160 | 143885 |
| 4.88%, 06/01/27 | &nbsp;&nbsp; 264 | 260393 |
| 5.75%, 12/01/34 | &nbsp;&nbsp; 273 | 269109 |
| 8.25%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 245 | 263608 |
| 8.50%, 07/15/31 | &nbsp;&nbsp; 259 | 279211 |
| 9.63%, 12/01/32 | &nbsp;&nbsp; 398 | 453706 |
| Western Digital Corp., 4.75%, 02/15/26 | &nbsp;&nbsp; 1211 | 1196762 |
|  |  | 5053798 |
| **Cosmetics & Personal Care — 0.8%** | **Cosmetics & Personal Care — 0.8%** | **Cosmetics & Personal Care — 0.8%** |
| Coty Inc., 5.00%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 350 | 348178 |
| Coty Inc./HFC Prestige Products Inc./HFC Prestige <br> International U.S. LLC<br>|  |  |
| 4.75%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 236 | 227671 |
| 6.63%, 07/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 384 | 391527 |
| Edgewell Personal Care Co. |  |  |
| 4.13%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 256739 |
| 5.50%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 430 | 423662 |
| Perrigo Finance Unlimited Co. |  |  |
| 4.90%, 12/15/44 | &nbsp;&nbsp; 175 | 140264 |
| 5.15%, 06/15/30 | &nbsp;&nbsp; 385 | 364496 |
| 6.13%, 09/30/32<sup>(a)</sup> | &nbsp;&nbsp; 390 | 385125 |
| Prestige Brands Inc. |  |  |
| 3.75%, 04/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 305 | 271873 |
| 5.13%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 220 | 215419 |
|  |  | 3024954 |
| **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** |
| American Builders & Contractors Supply Co. Inc. |  |  |
| 3.88%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 159141 |
| 4.00%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 405 | 384924 |
| Resideo Funding Inc. |  |  |
| 4.00%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 145 | 133093 |
| 6.50%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 325 | 327089 |
| Ritchie Bros Holdings Inc., 6.75%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 315 | 323007 |
|  |  | 1327254 |
| **Diversified Financial Services — 6.1%** | **Diversified Financial Services — 6.1%** | **Diversified Financial Services — 6.1%** |
| Ally Financial Inc. |  |  |
| 5.75%, 11/20/25<sup>(a)</sup> | &nbsp;&nbsp; 545 | 547138 |
| 6.70%, 02/14/33<sup>(a)</sup> | &nbsp;&nbsp; 257 | 258085 |
| Bread Financial Holdings Inc., 9.75%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 470 | 496432 |
| Brightsphere Investment Group Inc., 4.80%, 07/27/26 | &nbsp;&nbsp; 145 | 141868 |
| Burford Capital Global Finance LLC |  |  |
| 6.25%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 239414 |
| 6.88%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 225 | 226026 |
| 9.25%, 07/01/31<sup>(b)</sup> | &nbsp;&nbsp; 365 | 390933 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Credit Acceptance Corp. |  |  |
| 6.63%, 03/15/26 | &nbsp;&nbsp; $214 | $213789 |
| 9.25%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 320 | 338610 |
| Encore Capital Group Inc. |  |  |
| 8.50%, 05/15/30<sup>(b)</sup> | &nbsp;&nbsp; 270 | 284634 |
| 9.25%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 319426 |
| GGAM Finance Ltd. |  |  |
| 5.88%, 03/15/30<sup>(b)</sup> | &nbsp;&nbsp; 225 | 221906 |
| 6.88%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 214004 |
| 8.00%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 375 | 387416 |
| 8.00%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 298 | 314173 |
| 7.75%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 225 | 228953 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 585 | 604502 |
| goeasy Ltd. |  |  |
| 4.38%, 05/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 184 | 183080 |
| 7.63%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 327 | 335835 |
| 9.25%, 12/01/28<sup>(b)</sup> | &nbsp;&nbsp; 283 | 301768 |
| Series 144\*, 6.88%, 05/15/30<sup>(b)</sup> | &nbsp;&nbsp; 195 | 198096 |
| Jane Street Group/JSG Finance Inc. |  |  |
| 4.50%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 320 | 302772 |
| 6.13%, 11/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 585 | 585379 |
| 7.13%, 04/30/31<sup>(b)</sup> | &nbsp;&nbsp; 730 | 756671 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp. |  |  |
| 5.00%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 540 | 498117 |
| 6.63%, 10/15/31<sup>(b)</sup> | &nbsp;&nbsp; 240 | 238998 |
| Jefferson Capital Holdings LLC |  |  |
| 6.00%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 150 | 149481 |
| 9.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 220 | 234004 |
| Midcap Financial Issuer Trust |  |  |
| 5.63%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 230 | 203025 |
| 6.50%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 560 | 529305 |
| Nationstar Mortgage Holdings Inc., 5.00%, <br> 02/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 245 | 242525 |
| Navient Corp. |  |  |
| 4.88%, 03/15/28 | &nbsp;&nbsp; 271 | 258218 |
| 5.00%, 03/15/27 | &nbsp;&nbsp; 365 | 358828 |
| 5.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 400 | 381047 |
| 5.63%, 08/01/33 | &nbsp;&nbsp; 300 | 258877 |
| 6.75%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 246 | 250699 |
| 9.38%, 07/25/30 | &nbsp;&nbsp; 265 | 288514 |
| 11.50%, 03/15/31 | &nbsp;&nbsp; 275 | 308661 |
| OneMain Finance Corp. |  |  |
| 3.50%, 01/15/27 | &nbsp;&nbsp; 367 | 350257 |
| 3.88%, 09/15/28 | &nbsp;&nbsp; 330 | 304162 |
| 4.00%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 451 | 397012 |
| 5.38%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 395 | 378558 |
| 6.63%, 01/15/28 | &nbsp;&nbsp; 390 | 396122 |
| 6.63%, 05/15/29 | &nbsp;&nbsp; 125 | 125000 |
| 7.13%, 03/15/26 | &nbsp;&nbsp; 853 | 873887 |
| 7.13%, 11/15/31 | &nbsp;&nbsp; 405 | 409632 |
| 7.50%, 05/15/31 | &nbsp;&nbsp; 380 | 388607 |
| 7.88%, 03/15/30 | &nbsp;&nbsp; 375 | 390393 |
| 9.00%, 01/15/29 | &nbsp;&nbsp; 453 | 479952 |
| PennyMac Financial Services Inc. |  |  |
| 4.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 270 | 251850 |
| 5.75%, 09/15/31<sup>(b)</sup> | &nbsp;&nbsp; 300 | 286402 |
| 7.13%, 11/15/30<sup>(b)</sup> | &nbsp;&nbsp; 335 | 339994 |
| 7.88%, 12/15/29<sup>(b)</sup> | &nbsp;&nbsp; 410 | 429261 |
| PRA Group Inc. |  |  |
| 5.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 172 | 155640 |
| 8.38%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 235 | 241640 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 8.88%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; $200 | $207501 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc. |  |  |
| 2.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 589 | 560495 |
| 3.63%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 384 | 353697 |
| 3.88%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 660 | 587835 |
| 4.00%, 10/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 457 | 394143 |
| SLM Corp., 3.13%, 11/02/26 | &nbsp;&nbsp; 284 | 269314 |
| StoneX Group Inc., 7.88%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 290 | 305077 |
| Synchrony Financial, 7.25%, 02/02/33 | &nbsp;&nbsp; 375 | 383957 |
| United Wholesale Mortgage LLC |  |  |
| 5.50%, 11/15/25<sup>(b)</sup> | &nbsp;&nbsp; 320 | 318382 |
| 5.50%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 405 | 386249 |
| 5.75%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 300 | 294775 |
|  |  | 22551003 |
| **Electric — 4.7%** | **Electric — 4.7%** | **Electric — 4.7%** |
| AES Corp. (The), 7.60%, 01/15/55, <br> (5-year CMT + 3.201%)<sup>(d)</sup><br>| &nbsp;&nbsp; 470 | 487090 |
| Algonquin Power & Utilities Corp., 4.75%, 01/18/82, <br> (5-year CMT + 3.249%)<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 374572 |
| Atlantica Sustainable Infrastructure PLC, 4.13%, <br> 06/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 230 | 219327 |
| California Buyer Ltd./Atlantica Sustainable <br> Infrastructure PLC, 6.38%, 02/15/32<sup>(b)</sup><br>| &nbsp;&nbsp; 400 | 397236 |
| Calpine Corp. |  |  |
| 3.75%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 474 | 427147 |
| 4.50%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 666 | 641460 |
| 5.25%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 81 | 80465 |
| Clearway Energy Operating LLC |  |  |
| 3.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 480 | 428493 |
| 3.75%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 181 | 160392 |
| 4.75%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 435 | 421949 |
| DPL Inc., 4.35%, 04/15/29 | &nbsp;&nbsp; 213 | 200023 |
| Edison International |  |  |
| 7.88%, 06/15/54, (5-year CMT + 3.658%)<sup>(d)</sup> | &nbsp;&nbsp; 250 | 261487 |
| 8.13%, 06/15/53, (5-year CMT + 3.864%)<sup>(d)</sup> | &nbsp;&nbsp; 244 | 255992 |
| Electricite de France SA, 9.13%, <br> (5-year CMT + 5.411%)<sup>(b)(d)(e)</sup><br>| &nbsp;&nbsp; 770 | 872129 |
| Emera Inc., Series 16-A, 6.75%, 06/15/76, <br> (3-mo. LIBOR US + 5.440%)<sup>(d)</sup><br>| &nbsp;&nbsp; 605 | 605746 |
| EUSHI Finance Inc., 7.63%, 12/15/54, <br> (5-year CMT + 3.136%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 270 | 279571 |
| Leeward Renewable Energy Operations LLC, 4.25%, <br> 07/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 210 | 196491 |
| Lightning Power LLC, 7.25%, 08/15/32<sup>(b)</sup> | &nbsp;&nbsp; 796 | 828111 |
| NextEra Energy Operating Partners LP |  |  |
| 3.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 299 | 288246 |
| 4.50%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 301 | 288961 |
| 7.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 380 | 390871 |
| NRG Energy Inc. |  |  |
| 3.38%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 270 | 246196 |
| 3.63%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 555 | 491368 |
| 3.88%, 02/15/32<sup>(b)</sup> | &nbsp;&nbsp; 262 | 232674 |
| 5.25%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 395 | 385995 |
| 5.75%, 01/15/28 | &nbsp;&nbsp; 375 | 375203 |
| 6.00%, 02/01/33<sup>(b)</sup> | &nbsp;&nbsp; 470 | 467399 |
| 6.25%, 11/01/34<sup>(b)</sup> | &nbsp;&nbsp; 490 | 489484 |
| Pattern Energy Operations LP/Pattern Energy <br> Operations Inc., 4.50%, 08/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 323 | 307910 |
| PG&E Corp. |  |  |
| 5.00%, 07/01/28 | &nbsp;&nbsp; 516 | 503280 |
| 5.25%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 562 | 547694 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Talen Energy Supply LLC, 8.63%, 06/01/30<sup>(b)</sup> | &nbsp;&nbsp; $624 | $673128 |
| Terraform Global Operating LP, 6.13%, 03/01/26<sup>(b)</sup> | &nbsp;&nbsp; 190 | 189548 |
| TransAlta Corp. |  |  |
| 6.50%, 03/15/40 | &nbsp;&nbsp; 165 | 169685 |
| 7.75%, 11/15/29 | &nbsp;&nbsp; 240 | 253438 |
| Vistra Operations Co. LLC |  |  |
| 4.38%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 650 | 618733 |
| 5.00%, 07/31/27<sup>(b)</sup> | &nbsp;&nbsp; 705 | 695725 |
| 5.50%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 540 | 538371 |
| 5.63%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 660 | 658297 |
| 6.88%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 524 | 541844 |
| 7.75%, 10/15/31<sup>(b)</sup> | &nbsp;&nbsp; 773 | 816577 |
|  |  | 17308308 |
| **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** |
| EnerSys |  |  |
| 4.38%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 156 | 150078 |
| 6.63%, 01/15/32<sup>(b)</sup> | &nbsp;&nbsp; 180 | 184864 |
| WESCO Distribution Inc. |  |  |
| 6.38%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 508 | 518357 |
| 6.63%, 03/15/32<sup>(b)</sup> | &nbsp;&nbsp; 421 | 431418 |
| 7.25%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 705 | 721589 |
|  |  | 2006306 |
| **Electronics — 1.0%** | **Electronics — 1.0%** | **Electronics — 1.0%** |
| Atkore Inc., 4.25%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 225340 |
| Coherent Corp., 5.00%, 12/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 495 | 474854 |
| Imola Merger Corp., 4.75%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 1090 | 1053723 |
| Sensata Technologies BV |  |  |
| 4.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 560 | 523656 |
| 5.88%, 09/01/30<sup>(b)</sup> | &nbsp;&nbsp; 280 | 277094 |
| Sensata Technologies Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 404 | 360572 |
| 4.38%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 222 | 206704 |
| 6.63%, 07/15/32<sup>(b)</sup> | &nbsp;&nbsp; 270 | 273547 |
| TTM Technologies Inc., 4.00%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 210355 |
|  |  | 3605845 |
| **Energy - Alternate Sources — 0.3%** | **Energy - Alternate Sources — 0.3%** | **Energy - Alternate Sources — 0.3%** |
| TerraForm Power Operating LLC |  |  |
| 4.75%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 375 | 349888 |
| 5.00%, 01/31/28<sup>(b)</sup> | &nbsp;&nbsp; 340 | 332185 |
| Topaz Solar Farms LLC, 5.75%, 09/30/39<sup>(b)</sup> | &nbsp;&nbsp; 282 | 281068 |
|  |  | 963141 |
| **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** |
| AECOM, 5.13%, 03/15/27 | &nbsp;&nbsp; 535 | 532137 |
| Dycom Industries Inc., 4.50%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 263 | 248420 |
| Fluor Corp., 4.25%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 305 | 293157 |
| TopBuild Corp. |  |  |
| 3.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 183344 |
| 4.13%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 285 | 254077 |
| Weekley Homes LLC/Weekley Finance Corp., 4.88%, <br> 09/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 235 | 224547 |
|  |  | 1735682 |
| **Entertainment — 1.9%** | **Entertainment — 1.9%** | **Entertainment — 1.9%** |
| Caesars Entertainment Inc. |  |  |
| 6.50%, 02/15/32<sup>(b)</sup> | &nbsp;&nbsp; 808 | 819405 |
| 7.00%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 1027 | 1052729 |
| International Game Technology PLC |  |  |
| 4.13%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 410 | 404105 |
| 5.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 415 | 407737 |
| 6.25%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 415 | 419115 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Live Nation Entertainment Inc. |  |  |
| 3.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; $260 | $246318 |
| 6.50%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 590 | 598156 |
| Resorts World Las Vegas LLC/RWLV Capital Inc. |  |  |
| 4.63%, 04/16/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 530 | 466952 |
| 4.63%, 04/06/31<sup>(b)</sup> | &nbsp;&nbsp; 205 | 173897 |
| 8.45%, 07/27/30<sup>(b)</sup> | &nbsp;&nbsp; 230 | 237186 |
| Six Flags Entertainment Corp./Six Flags Theme <br> Parks Inc., 6.63%, 05/01/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 470 | 478866 |
| Speedway Motorsports LLC/Speedway Funding <br> II Inc., 4.88%, 11/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 220 | 215030 |
| Vail Resorts Inc., 6.50%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 330 | 337986 |
| Wynn Resorts Finance LLC/Wynn Resorts <br> Capital Corp.<br>|  |  |
| 5.13%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 385 | 373766 |
| 6.25%, 03/15/33<sup>(b)</sup> | &nbsp;&nbsp; 410 | 408079 |
| 7.13%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 525 | 552292 |
|  |  | 7191619 |
| **Environmental Control — 0.6%** | **Environmental Control — 0.6%** | **Environmental Control — 0.6%** |
| Clean Harbors Inc. |  |  |
| 4.88%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 246197 |
| 5.13%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 137 | 133294 |
| 6.38%, 02/01/31<sup>(b)</sup> | &nbsp;&nbsp; 290 | 292180 |
| GFL Environmental Inc. |  |  |
| 3.50%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 390 | 365651 |
| 5.13%, 12/15/26<sup>(b)</sup> | &nbsp;&nbsp; 265 | 262368 |
| 6.75%, 01/15/31<sup>(b)</sup> | &nbsp;&nbsp; 510 | 525105 |
| Stericycle Inc., 3.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 301 | 295747 |
|  |  | 2120542 |
| **Food — 2.7%** | **Food — 2.7%** | **Food — 2.7%** |
| Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| 3.25%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 450 | 434764 |
| 3.50%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 675 | 623644 |
| 4.63%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 670 | 657332 |
| 4.88%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 485 | 472394 |
| 5.88%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 440 | 440704 |
| 6.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 431 | 441047 |
| 7.50%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 275 | 278153 |
| Ingles Markets Inc., 4.00%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 169 | 150786 |
| Lamb Weston Holdings Inc. |  |  |
| 4.13%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 520 | 482797 |
| 4.38%, 01/31/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 370 | 338963 |
| 4.88%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 271 | 265474 |
| Performance Food Group Inc. |  |  |
| 4.25%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 524 | 490450 |
| 5.50%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 575 | 570127 |
| 6.13%, 09/15/32<sup>(b)</sup> | &nbsp;&nbsp; 533 | 535230 |
| Pilgrim's Pride Corp. |  |  |
| 3.50%, 03/01/32 | &nbsp;&nbsp; 450 | 393627 |
| 4.25%, 04/15/31 | &nbsp;&nbsp; 465 | 432259 |
| 6.25%, 07/01/33 | &nbsp;&nbsp; 540 | 560554 |
| 6.88%, 05/15/34 | &nbsp;&nbsp; 270 | 293364 |
| Post Holdings Inc., 6.25%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 540 | 545998 |
| Safeway Inc., 7.25%, 02/01/31 | &nbsp;&nbsp; 150 | 152831 |
| U.S. Foods Inc. |  |  |
| 4.63%, 06/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 267 | 253333 |
| 4.75%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 485 | 467217 |
| 5.75%, 04/15/33<sup>(b)</sup> | &nbsp;&nbsp; 230 | 226500 |
| 6.88%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 260 | 267257 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| 7.25%, 01/15/32<sup>(b)</sup> | &nbsp;&nbsp; $275 | $285729 |
|  |  | 10060534 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| AltaGas Ltd., 7.20%, 10/15/54, <br> (5-year CMT + 3.573%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 475 | 476182 |
| **Health Care - Products — 1.5%** | **Health Care - Products — 1.5%** | **Health Care - Products — 1.5%** |
| Avantor Funding Inc. |  |  |
| 3.88%, 11/01/29<sup>(b)</sup> | &nbsp;&nbsp; 424 | 391060 |
| 4.63%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 830 | 802545 |
| Hologic Inc. |  |  |
| 3.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 540 | 495923 |
| 4.63%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 215 | 210933 |
| Medline Borrower LP, 3.88%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 2355 | 2203032 |
| Medline Borrower LP/Medline Co-Issuer Inc., 6.25%, <br> 04/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 787 | 800728 |
| Teleflex Inc. |  |  |
| 4.25%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 297 | 284732 |
| 4.63%, 11/15/27 | &nbsp;&nbsp; 268 | 263441 |
|  |  | 5452394 |
| **Health Care - Services — 3.2%** | **Health Care - Services — 3.2%** | **Health Care - Services — 3.2%** |
| Charles River Laboratories International Inc. |  |  |
| 3.75%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 270 | 247513 |
| 4.00%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 260 | 232381 |
| 4.25%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 268 | 254783 |
| DaVita Inc. |  |  |
| 3.75%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 769 | 668774 |
| 4.63%, 06/01/30<sup>(b)</sup> | &nbsp;&nbsp; 1445 | 1330294 |
| 6.88%, 09/01/32<sup>(b)</sup> | &nbsp;&nbsp; 499 | 501600 |
| Encompass Health Corp. |  |  |
| 4.50%, 02/01/28 | &nbsp;&nbsp; 425 | 413392 |
| 4.63%, 04/01/31 | &nbsp;&nbsp; 210 | 197637 |
| 4.75%, 02/01/30 | &nbsp;&nbsp; 410 | 394343 |
| Fortrea Holdings Inc., 7.50%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 323 | 317624 |
| IQVIA Inc. |  |  |
| 5.00%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 550 | 544109 |
| 5.00%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 525 | 518263 |
| 6.50%, 05/15/30<sup>(b)</sup> | &nbsp;&nbsp; 240 | 246535 |
| Molina Healthcare Inc. |  |  |
| 3.88%, 11/15/30<sup>(b)</sup> | &nbsp;&nbsp; 338 | 306055 |
| 3.88%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 370 | 328007 |
| 4.38%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 420 | 402974 |
| Pediatrix Medical Group Inc., 5.38%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 235 | 224607 |
| Tenet Healthcare Corp. |  |  |
| 4.25%, 06/01/29 | &nbsp;&nbsp; 704 | 666001 |
| 4.38%, 01/15/30 | &nbsp;&nbsp; 750 | 703154 |
| 4.63%, 06/15/28 | &nbsp;&nbsp; 315 | 304501 |
| 5.13%, 11/01/27 | &nbsp;&nbsp; 785 | 778367 |
| 6.13%, 06/15/30 | &nbsp;&nbsp; 1058 | 1062954 |
| 6.75%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 715 | 730943 |
| Toledo Hospital (The) |  |  |
| 4.98%, 11/15/45 | &nbsp;&nbsp; 90 | 67837 |
| 6.02%, 11/15/48 | &nbsp;&nbsp; 235 | 207531 |
| Series B, 5.33%, 11/15/28 | &nbsp;&nbsp; 199 | 193884 |
|  |  | 11844063 |
| **Holding Companies - Diversified — 0.9%** | **Holding Companies - Diversified — 0.9%** | **Holding Companies - Diversified — 0.9%** |
| Benteler International AG, Class A, 10.50%, <br> 05/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 280 | 289462 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |
| 4.38%, 02/01/29 | &nbsp;&nbsp; 395 | 329508 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| 5.25%, 05/15/27 | &nbsp;&nbsp; $799 | $744358 |
| 6.25%, 05/15/26 | &nbsp;&nbsp; 662 | 650670 |
| 9.00%, 06/15/30 | &nbsp;&nbsp; 405 | 391130 |
| 9.75%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 355 | 354733 |
| Stena International SA |  |  |
| 7.25%, 01/15/31<sup>(b)</sup> | &nbsp;&nbsp; 400 | 415254 |
| 7.63%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 240 | 251269 |
|  |  | 3426384 |
| **Home Builders — 1.5%** | **Home Builders — 1.5%** | **Home Builders — 1.5%** |
| Ashton Woods USA LLC/Ashton Woods Finance Co. |  |  |
| 4.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 180 | 168240 |
| 4.63%, 04/01/30<sup>(b)</sup> | &nbsp;&nbsp; 200 | 184194 |
| Century Communities Inc. |  |  |
| 3.88%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 258 | 234678 |
| 6.75%, 06/01/27 | &nbsp;&nbsp; 290 | 291549 |
| Dream Finders Homes Inc., 8.25%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 160 | 167404 |
| Forestar Group Inc. |  |  |
| 3.85%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 186 | 181279 |
| 5.00%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 143540 |
| Installed Building Products Inc., 5.75%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 190 | 188615 |
| KB Home |  |  |
| 4.00%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 217 | 196171 |
| 4.80%, 11/15/29 | &nbsp;&nbsp; 158 | 152009 |
| 6.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 155 | 160099 |
| 7.25%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 189 | 195779 |
| LGI Homes Inc. |  |  |
| 4.00%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 153 | 136970 |
| 8.75%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 256 | 269694 |
| M/I Homes Inc. |  |  |
| 3.95%, 02/15/30 | &nbsp;&nbsp; 175 | 159901 |
| 4.95%, 02/01/28 | &nbsp;&nbsp; 240 | 232530 |
| Mattamy Group Corp. |  |  |
| 4.63%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; 315 | 295161 |
| 5.25%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 265 | 261003 |
| Shea Homes LP/Shea Homes Funding Corp. |  |  |
| 4.75%, 02/15/28 | &nbsp;&nbsp; 230 | 219415 |
| 4.75%, 04/01/29 | &nbsp;&nbsp; 175 | 165973 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 133 | 141261 |
| Taylor Morrison Communities Inc. |  |  |
| 5.13%, 08/01/30<sup>(b)</sup> | &nbsp;&nbsp; 280 | 270801 |
| 5.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 210 | 210029 |
| 5.88%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 234 | 234958 |
| Thor Industries Inc., 4.00%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 273804 |
| Tri Pointe Homes Inc. |  |  |
| 5.25%, 06/01/27 | &nbsp;&nbsp; 187 | 185015 |
| 5.70%, 06/15/28 | &nbsp;&nbsp; 195 | 193761 |
| Winnebago Industries Inc., 6.25%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 173958 |
|  |  | 5687791 |
| **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** |
| Tempur Sealy International Inc. |  |  |
| 3.88%, 10/15/31<sup>(b)</sup> | &nbsp;&nbsp; 435 | 378391 |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 383 | 352907 |
|  |  | 731298 |
| **Hotels, Restaurants & Leisure — 0.2%** | **Hotels, Restaurants & Leisure — 0.2%** | **Hotels, Restaurants & Leisure — 0.2%** |
| 1011778 BC ULC/New Red Finance Inc., 6.13%, <br> 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 613 | 623702 |
| **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** |
| ACCO Brands Corp., 4.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 320 | 293575 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Household Products & Wares (continued)** | **Household Products & Wares (continued)** | **Household Products & Wares (continued)** |
| Central Garden & Pet Co. |  |  |
| 4.13%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; $286 | $259053 |
| 4.13%, 04/30/31<sup>(b)</sup> | &nbsp;&nbsp; 176 | 157919 |
| 5.13%, 02/01/28 | &nbsp;&nbsp; 179 | 176405 |
|  |  | 886952 |
| **Housewares — 0.6%** | **Housewares — 0.6%** | **Housewares — 0.6%** |
| Newell Brands Inc. |  |  |
| 5.70%, 04/01/26 | &nbsp;&nbsp; 1021 | 1023280 |
| 6.38%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 265 | 267819 |
| 6.63%, 09/15/29 | &nbsp;&nbsp; 275 | 278832 |
| 6.88%, 04/01/36<sup>(a)</sup> | &nbsp;&nbsp; 225 | 223906 |
| 7.00%, 04/01/46 | &nbsp;&nbsp; 342 | 317383 |
|  |  | 2111220 |
| **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** |
| APH Somerset Investor 2 LLC/APH2 Somerset <br> Investor 2 LLC/APH3 Somerset Inves, 7.88%, <br> 11/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 400 | 399600 |
| Assurant Inc., 7.00%, 03/27/48, <br> (3-mo. LIBOR US + 4.135%)<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 203380 |
| Constellation Insurance Inc. |  |  |
| 6.63%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 125 | 121919 |
| 6.80%, 01/24/30<sup>(b)</sup> | &nbsp;&nbsp; 250 | 246527 |
| Genworth Holdings Inc., 6.50%, 06/15/34 | &nbsp;&nbsp; 150 | 148571 |
| Global Atlantic Fin Co. |  |  |
| 4.70%, 10/15/51, (5-year CMT + 3.796%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 380 | 364492 |
| 7.95%, 10/15/54, (5-year CMT + 3.608%)<sup>(a)(b)(d)</sup> | &nbsp;&nbsp; 317 | 328917 |
| Liberty Mutual Group Inc. |  |  |
| 4.13%, 12/15/51, (5-year CMT + 3.315%)<sup>(a)(b)(d)</sup> | &nbsp;&nbsp; 270 | 254786 |
| 4.30%, 02/01/61<sup>(a)(b)</sup> | &nbsp;&nbsp; 405 | 265955 |
| 7.80%, 03/07/87<sup>(a)(b)</sup> | &nbsp;&nbsp; 225 | 249765 |
| Ryan Specialty LLC |  |  |
| 4.38%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 225 | 213289 |
| 5.88%, 08/01/32<sup>(b)</sup> | &nbsp;&nbsp; 315 | 313948 |
|  |  | 3111149 |
| **Internet — 1.5%** | **Internet — 1.5%** | **Internet — 1.5%** |
| Cogent Communications Group LLC, 3.50%, <br> 05/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 234 | 227448 |
| Gen Digital Inc. |  |  |
| 6.75%, 09/30/27<sup>(b)</sup> | &nbsp;&nbsp; 486 | 494347 |
| 7.13%, 09/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 310 | 320822 |
| Go Daddy Operating Co. LLC/GD Finance Co. Inc. |  |  |
| 3.50%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 445 | 410687 |
| 5.25%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 340 | 336029 |
| Match Group Holdings II LLC |  |  |
| 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 265 | 232171 |
| 4.13%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 261 | 237327 |
| 4.63%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 265 | 254871 |
| 5.00%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 246 | 240185 |
| 5.63%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 172665 |
| Rakuten Group Inc. |  |  |
| 9.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 1035 | 1119353 |
| 11.25%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 965 | 1049438 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(b)</sup> | &nbsp;&nbsp; 177 | 179108 |
| Ziff Davis Inc., 4.63%, 10/15/30<sup>(b)</sup> | &nbsp;&nbsp; 270 | 247067 |
|  |  | 5521518 |
| **Iron & Steel — 1.6%** | **Iron & Steel — 1.6%** | **Iron & Steel — 1.6%** |
| Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 390 | 393720 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Iron & Steel (continued)** | **Iron & Steel (continued)** | **Iron & Steel (continued)** |
| Carpenter Technology Corp. |  |  |
| 6.38%, 07/15/28 | &nbsp;&nbsp; $237 | $237183 |
| 7.63%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 175 | 180841 |
| Cleveland-Cliffs Inc. |  |  |
| 4.63%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 188 | 176136 |
| 4.88%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 185 | 170711 |
| 5.88%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 285 | 284815 |
| 6.75%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 378 | 377613 |
| 6.88%, 11/01/29<sup>(b)</sup> | &nbsp;&nbsp; 445 | 446726 |
| 7.00%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 709 | 709802 |
| 7.38%, 05/01/33<sup>(b)</sup> | &nbsp;&nbsp; 355 | 357627 |
| Commercial Metals Co. |  |  |
| 3.88%, 02/15/31 | &nbsp;&nbsp; 145 | 130171 |
| 4.13%, 01/15/30 | &nbsp;&nbsp; 145 | 134557 |
| 4.38%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 145 | 133394 |
| Mineral Resources Ltd. |  |  |
| 8.00%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 285 | 292238 |
| 8.13%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 400 | 402850 |
| 8.50%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 370 | 380549 |
| 9.25%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 557 | 586397 |
| U.S. Steel Corp. |  |  |
| 6.65%, 06/01/37 | &nbsp;&nbsp; 147 | 149191 |
| 6.88%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 198 | 199267 |
|  |  | 5743788 |
| **Leisure Time — 2.9%** | **Leisure Time — 2.9%** | **Leisure Time — 2.9%** |
| Acushnet Co., 7.38%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 182487 |
| Amer Sports Co., 6.75%, 02/16/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 445 | 452072 |
| Carnival Corp. |  |  |
| 5.75%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 1490 | 1494463 |
| 6.00%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 1090 | 1091783 |
| Life Time Inc. |  |  |
| 5.75%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 482 | 481735 |
| 6.00%, 11/15/31<sup>(b)</sup> | &nbsp;&nbsp; 270 | 268853 |
| NCL Corp. Ltd. |  |  |
| 8.13%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 392 | 415589 |
| 8.38%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 251405 |
| Royal Caribbean Cruises Ltd. |  |  |
| 3.70%, 03/15/28 | &nbsp;&nbsp; 270 | 257286 |
| 4.25%, 07/01/26<sup>(b)</sup> | &nbsp;&nbsp; 382 | 374721 |
| 5.38%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 526 | 525035 |
| 5.50%, 08/31/26<sup>(b)</sup> | &nbsp;&nbsp; 489 | 489551 |
| 5.50%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 810 | 809944 |
| 5.63%, 09/30/31<sup>(b)</sup> | &nbsp;&nbsp; 745 | 741957 |
| 6.00%, 02/01/33<sup>(b)</sup> | &nbsp;&nbsp; 1045 | 1051416 |
| 6.25%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 657 | 669825 |
| 7.50%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 155 | 164280 |
| Viking Ocean Cruises Ship VII Ltd., 5.63%, <br> 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 204 | 201179 |
| Vista Outdoor Inc., 4.50%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 228959 |
| VOC Escrow Ltd., 5.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 378 | 367459 |
|  |  | 10519999 |
| **Lodging — 2.5%** | **Lodging — 2.5%** | **Lodging — 2.5%** |
| Boyd Gaming Corp. |  |  |
| 4.75%, 12/01/27 | &nbsp;&nbsp; 520 | 510218 |
| 4.75%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 452 | 421847 |
| Genting New York LLC/GENNY Capital Inc., 7.25%, <br> 10/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 350 | 355241 |
| Hilton Domestic Operating Co. Inc. |  |  |
| 3.63%, 02/15/32<sup>(b)</sup> | &nbsp;&nbsp; 790 | 693421 |
| 3.75%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 415 | 386126 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| 4.00%, 05/01/31<sup>(b)</sup> | &nbsp;&nbsp; $569 | $518309 |
| 4.88%, 01/15/30 | &nbsp;&nbsp; 530 | 513541 |
| 5.75%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 265 | 265609 |
| 5.88%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 304439 |
| 5.88%, 03/15/33<sup>(b)</sup> | &nbsp;&nbsp; 518 | 519084 |
| 6.13%, 04/01/32<sup>(b)</sup> | &nbsp;&nbsp; 250 | 252497 |
| Hilton Grand Vacations Borrower Escrow LLC/Hilton <br> Grand Vacations Borrower Esc, 6.63%, <br> 01/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 433 | 433106 |
| Hilton Worldwide Finance LLC/Hilton Worldwide <br> Finance Corp., 4.88%, 04/01/27<br>| &nbsp;&nbsp; 305 | 302706 |
| MGM Resorts International |  |  |
| 4.63%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 205 | 203154 |
| 4.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 438 | 423398 |
| 5.50%, 04/15/27 | &nbsp;&nbsp; 375 | 374200 |
| 6.13%, 09/15/29 | &nbsp;&nbsp; 425 | 423498 |
| 6.50%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 367 | 367035 |
| Travel & Leisure Co. |  |  |
| 4.50%, 12/01/29<sup>(b)</sup> | &nbsp;&nbsp; 360 | 336220 |
| 4.63%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; 169 | 157561 |
| 6.00%, 04/01/27 | &nbsp;&nbsp; 210 | 211953 |
| 6.60%, 10/01/25 | &nbsp;&nbsp; 135 | 136015 |
| 6.63%, 07/31/26<sup>(b)</sup> | &nbsp;&nbsp; 338 | 340856 |
| Wyndham Hotels & Resorts Inc., 4.38%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | 285531 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., <br> 5.25%, 05/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 505 | 501224 |
|  |  | 9236789 |
| **Machinery — 0.9%** | **Machinery — 0.9%** | **Machinery — 0.9%** |
| ATS Corp., 4.13%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 210 | 196868 |
| BWX Technologies Inc. |  |  |
| 4.13%, 06/30/28<sup>(b)</sup> | &nbsp;&nbsp; 198 | 188956 |
| 4.13%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 216 | 204615 |
| Chart Industries Inc., 7.50%, 01/01/30<sup>(b)</sup> | &nbsp;&nbsp; 765 | 795662 |
| Esab Corp., 6.25%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 390 | 396867 |
| Mueller Water Products Inc., 4.00%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 260 | 242066 |
| Terex Corp. |  |  |
| 5.00%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 325 | 312402 |
| 6.25%, 10/15/32<sup>(b)</sup> | &nbsp;&nbsp; 395 | 393167 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 470 | 447278 |
|  |  | 3177881 |
| **Manufacturing — 0.4%** | **Manufacturing — 0.4%** | **Manufacturing — 0.4%** |
| Amsted Industries Inc. |  |  |
| 4.63%, 05/15/30<sup>(b)</sup> | &nbsp;&nbsp; 189 | 176300 |
| 5.63%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 245 | 243303 |
| Hillenbrand Inc. |  |  |
| 3.75%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 180 | 157507 |
| 5.00%, 09/15/26 | &nbsp;&nbsp; 196 | 194144 |
| 6.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 255 | 255962 |
| Trinity Industries Inc., 7.75%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 360 | 372211 |
|  |  | 1399427 |
| **Media — 6.3%** | **Media — 6.3%** | **Media — 6.3%** |
| AMC Networks Inc., 10.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 470 | 484100 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| 4.25%, 02/01/31<sup>(b)</sup> | &nbsp;&nbsp; 881 | 764520 |
| 4.25%, 01/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 539 | 430612 |
| 4.50%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; 750 | 669854 |
| 4.50%, 05/01/32 | &nbsp;&nbsp; 839 | 713811 |
| 4.50%, 06/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 505 | 419955 |
| 4.75%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; 895 | 814154 |
| 4.75%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 350 | 302593 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| 5.00%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; $742 | $718151 |
| 5.13%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 950 | 930204 |
| 5.38%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 456 | 435275 |
| 5.50%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 219 | 218291 |
| 6.38%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 454 | 449516 |
| 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 327 | 332543 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 390 | 384930 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 1931 | 1859219 |
| Gray Television Inc., 10.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 665 | 690755 |
| LCPR Senior Secured Financing DAC |  |  |
| 5.13%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 352871 |
| 6.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 630 | 590511 |
| News Corp. |  |  |
| 3.88%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 551 | 512764 |
| 5.13%, 02/15/32<sup>(b)</sup> | &nbsp;&nbsp; 270 | 258739 |
| Nexstar Media Inc. |  |  |
| 4.75%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 515 | 484168 |
| 5.63%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 902 | 886401 |
| Paramount Global |  |  |
| 6.25%, 02/28/57, (3-mo. LIBOR US + 3.899%)<sup>(d)</sup> | &nbsp;&nbsp; 330 | 296214 |
| 6.38%, 03/30/62, (5-year CMT + 3.999%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 550 | 509194 |
| Sirius XM Radio Inc. |  |  |
| 3.13%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 520 | 498808 |
| 3.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 738 | 634188 |
| 4.00%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 1050 | 980983 |
| 4.13%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 787 | 704099 |
| 5.00%, 08/01/27<sup>(b)</sup> | &nbsp;&nbsp; 804 | 787890 |
| 5.50%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 644 | 624741 |
| Sunrise FinCo I BV, 4.88%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 687 | 628605 |
| TEGNA Inc. |  |  |
| 4.63%, 03/15/28 | &nbsp;&nbsp; 530 | 497680 |
| 4.75%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 268 | 265198 |
| 5.00%, 09/15/29 | &nbsp;&nbsp; 614 | 573203 |
| Virgin Media Secured Finance PLC |  |  |
| 4.50%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; 515 | 451032 |
| 5.50%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 765 | 723489 |
| VZ Secured Financing BV, 5.00%, 01/15/32<sup>(b)</sup> | &nbsp;&nbsp; 810 | 727134 |
| Ziggo BV, 4.88%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 550 | 509979 |
|  |  | 23116374 |
| **Metal Fabricate & Hardware — 0.2%** | **Metal Fabricate & Hardware — 0.2%** | **Metal Fabricate & Hardware — 0.2%** |
| Advanced Drainage Systems Inc. |  |  |
| 5.00%, 09/30/27<sup>(b)</sup> | &nbsp;&nbsp; 195 | 191467 |
| 6.38%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 285 | 287285 |
| Vallourec SACA, 7.50%, 04/15/32<sup>(b)</sup> | &nbsp;&nbsp; 445 | 466076 |
|  |  | 944828 |
| **Mining — 1.6%** | **Mining — 1.6%** | **Mining — 1.6%** |
| Alcoa Nederland Holding BV |  |  |
| 4.13%, 03/31/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 258604 |
| 5.50%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 410 | 406962 |
| 6.13%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 220 | 220370 |
| 7.13%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 395 | 411849 |
| Arsenal AIC Parent LLC, 8.00%, 10/01/30<sup>(b)</sup> | &nbsp;&nbsp; 406 | 426754 |
| Constellium SE |  |  |
| 3.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 290 | 262420 |
| 5.63%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 97577 |
| 6.38%, 08/15/32<sup>(b)</sup> | &nbsp;&nbsp; 210 | 206714 |
| FMG Resources August 2006 Pty. Ltd. |  |  |
| 4.38%, 04/01/31<sup>(b)</sup> | &nbsp;&nbsp; 795 | 723733 |
| 4.50%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 320 | 311520 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| FMG Resources August Pty. Ltd. |  |  |
| 5.88%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; $370 | $368228 |
| 6.13%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 425 | 426403 |
| Novelis Corp. |  |  |
| 3.25%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 405 | 389658 |
| 3.88%, 08/15/31<sup>(b)</sup> | &nbsp;&nbsp; 404 | 354801 |
| 4.75%, 01/30/30<sup>(b)</sup> | &nbsp;&nbsp; 855 | 801017 |
| Perenti Finance Pty Ltd., 7.50%, 04/26/29<sup>(b)</sup> | &nbsp;&nbsp; 220 | 229563 |
|  |  | 5896173 |
| **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** |
| Zebra Technologies Corp., 6.50%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 297 | 303865 |
| **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** |
| Steelcase Inc., 5.13%, 01/18/29<sup>(a)</sup> | &nbsp;&nbsp; 264 | 254379 |
| **Oil & Gas — 6.2%** | **Oil & Gas — 6.2%** | **Oil & Gas — 6.2%** |
| Antero Resources Corp. |  |  |
| 5.38%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 312 | 302973 |
| 7.63%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 193 | 197928 |
| Ascent Resources Utica Holdings LLC/ARU <br> Finance Corp.<br>|  |  |
| 5.88%, 06/30/29<sup>(b)</sup> | &nbsp;&nbsp; 228 | 220257 |
| 6.63%, 10/15/32<sup>(b)</sup> | &nbsp;&nbsp; 315 | 312014 |
| Baytex Energy Corp. |  |  |
| 7.38%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 308 | 299013 |
| 8.50%, 04/30/30<sup>(b)</sup> | &nbsp;&nbsp; 445 | 452797 |
| Chord Energy Corp., 6.38%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 160 | 160343 |
| Civitas Resources Inc. |  |  |
| 5.00%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 222 | 218036 |
| 8.38%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 699 | 722395 |
| 8.63%, 11/01/30<sup>(b)</sup> | &nbsp;&nbsp; 545 | 572559 |
| 8.75%, 07/01/31<sup>(b)</sup> | &nbsp;&nbsp; 710 | 743626 |
| CNX Resources Corp. |  |  |
| 6.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 247874 |
| 7.25%, 03/01/32<sup>(b)</sup> | &nbsp;&nbsp; 220 | 226685 |
| 7.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 270 | 277543 |
| Crescent Energy Finance LLC |  |  |
| 7.38%, 01/15/33<sup>(b)</sup> | &nbsp;&nbsp; 488 | 473345 |
| 7.63%, 04/01/32<sup>(b)</sup> | &nbsp;&nbsp; 378 | 373221 |
| 9.25%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 547 | 574010 |
| Diamond Foreign Asset Co./Diamond Finance LLC, <br> 8.50%, 10/01/30<sup>(b)</sup><br>| &nbsp;&nbsp; 275 | 283959 |
| Energean PLC, 6.50%, 04/30/27<sup>(b)</sup> | &nbsp;&nbsp; 230 | 228551 |
| Expand Energy Corp. |  |  |
| 5.38%, 03/15/30 | &nbsp;&nbsp; 205 | 201593 |
| 6.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 151638 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| 5.75%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 320 | 307052 |
| 6.00%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 274 | 261343 |
| 6.00%, 02/01/31<sup>(b)</sup> | &nbsp;&nbsp; 335 | 316728 |
| 6.25%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 325 | 317097 |
| 6.25%, 04/15/32<sup>(b)</sup> | &nbsp;&nbsp; 284 | 266488 |
| 6.88%, 05/15/34<sup>(b)</sup> | &nbsp;&nbsp; 277 | 265149 |
| 7.25%, 02/15/35<sup>(b)</sup> | &nbsp;&nbsp; 430 | 421811 |
| 8.38%, 11/01/33<sup>(b)</sup> | &nbsp;&nbsp; 325 | 339793 |
| Ithaca Energy North Sea PLC, 8.13%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 400 | 400101 |
| Matador Resources Co. |  |  |
| 6.25%, 04/15/33<sup>(b)</sup> | &nbsp;&nbsp; 360 | 352306 |
| 6.50%, 04/15/32<sup>(b)</sup> | &nbsp;&nbsp; 483 | 478347 |
| 6.88%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 291 | 296260 |
| MEG Energy Corp., 5.88%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 293 | 287254 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Murphy Oil Corp. |  |  |
| 5.88%, 12/01/42 | &nbsp;&nbsp; $185 | $162411 |
| 6.00%, 10/01/32<sup>(a)</sup> | &nbsp;&nbsp; 320 | 308003 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 741 | 751109 |
| Parkland Corp. |  |  |
| 4.50%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 423 | 392961 |
| 4.63%, 05/01/30<sup>(b)</sup> | &nbsp;&nbsp; 440 | 404418 |
| 5.88%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 260 | 257282 |
| 6.63%, 08/15/32<sup>(b)</sup> | &nbsp;&nbsp; 226 | 225527 |
| PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| 6.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 428 | 415411 |
| 7.88%, 09/15/30<sup>(b)</sup> | &nbsp;&nbsp; 270 | 269539 |
| Permian Resources Operating LLC |  |  |
| 5.38%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 175 | 174156 |
| 5.88%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 390 | 384464 |
| 6.25%, 02/01/33<sup>(b)</sup> | &nbsp;&nbsp; 545 | 541073 |
| 7.00%, 01/15/32<sup>(b)</sup> | &nbsp;&nbsp; 530 | 540649 |
| 8.00%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 220 | 226105 |
| 9.88%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 290 | 320440 |
| Range Resources Corp. |  |  |
| 4.75%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 235373 |
| 8.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 309088 |
| Seadrill Finance Ltd., 8.38%, 08/01/30<sup>(b)</sup> | &nbsp;&nbsp; 340 | 347204 |
| SM Energy Co. |  |  |
| 6.50%, 07/15/28 | &nbsp;&nbsp; 210 | 209407 |
| 6.63%, 01/15/27 | &nbsp;&nbsp; 210 | 209959 |
| 6.75%, 09/15/26 | &nbsp;&nbsp; 220 | 220461 |
| 6.75%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 380 | 377658 |
| 7.00%, 08/01/32<sup>(b)</sup> | &nbsp;&nbsp; 420 | 416594 |
| Sunoco LP |  |  |
| 7.00%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 390 | 402316 |
| 7.25%, 05/01/32<sup>(b)</sup> | &nbsp;&nbsp; 396 | 412246 |
| Sunoco LP/Sunoco Finance Corp. |  |  |
| 4.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 435 | 413596 |
| 4.50%, 04/30/30 | &nbsp;&nbsp; 433 | 406360 |
| 5.88%, 03/15/28 | &nbsp;&nbsp; 195 | 194552 |
| 6.00%, 04/15/27 | &nbsp;&nbsp; 320 | 320335 |
| 7.00%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 268 | 275445 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(b)</sup> | &nbsp;&nbsp; 596 | 604702 |
| Viper Energy Inc. |  |  |
| 5.38%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 235 | 232330 |
| 7.38%, 11/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 213 | 221324 |
|  |  | 22732587 |
| **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** |
| Archrock Partners LP/Archrock Partners <br> Finance Corp.<br>|  |  |
| 6.25%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 437 | 437809 |
| 6.63%, 09/01/32<sup>(b)</sup> | &nbsp;&nbsp; 364 | 365646 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 292 | 303111 |
| Helix Energy Solutions Group Inc., 9.75%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 180 | 191978 |
| Oceaneering International Inc., 6.00%, 02/01/28 | &nbsp;&nbsp; 170 | 167031 |
| Weatherford International Ltd., 8.63%, 04/30/30<sup>(b)</sup> | &nbsp;&nbsp; 825 | 852803 |
|  |  | 2318378 |
| **Packaging & Containers — 1.9%** | **Packaging & Containers — 1.9%** | **Packaging & Containers — 1.9%** |
| Ball Corp. |  |  |
| 2.88%, 08/15/30 | &nbsp;&nbsp; 697 | 606608 |
| 3.13%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 460 | 397543 |
| 6.00%, 06/15/29 | &nbsp;&nbsp; 560 | 568765 |
| 6.88%, 03/15/28 | &nbsp;&nbsp; 345 | 354628 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| Berry Global Inc. |  |  |
| 4.50%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; $112 | $110497 |
| 5.63%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 285 | 284520 |
| Cascades Inc./Cascades USA Inc., 5.38%, <br> 01/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 260 | 255786 |
| Crown Americas LLC, 5.25%, 04/01/30 | &nbsp;&nbsp; 280 | 275395 |
| Crown Americas LLC/Crown Americas Capital Corp. <br> V, 4.25%, 09/30/26<sup>(a)</sup><br>| &nbsp;&nbsp; 218 | 213413 |
| Crown Americas LLC/Crown Americas Capital Corp. <br> VI, 4.75%, 02/01/26<br>| &nbsp;&nbsp; 420 | 416915 |
| Crown Cork & Seal Co. Inc., 7.38%, 12/15/26 | &nbsp;&nbsp; 200 | 207685 |
| Graphic Packaging International LLC |  |  |
| 3.50%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 224046 |
| 3.50%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 182526 |
| 3.75%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 205 | 187481 |
| 4.75%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 155 | 151950 |
| 6.38%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 260 | 262321 |
| OI European Group BV, 4.75%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 200 | 181190 |
| Sealed Air Corp. |  |  |
| 4.00%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 230 | 220135 |
| 5.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 255 | 246322 |
| 6.50%, 07/15/32<sup>(b)</sup> | &nbsp;&nbsp; 200 | 203003 |
| 6.88%, 07/15/33<sup>(b)</sup> | &nbsp;&nbsp; 197 | 208687 |
| Sealed Air Corp./Sealed Air Corp. U.S. |  |  |
| 6.13%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 395 | 399198 |
| 7.25%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 235 | 243984 |
| Silgan Holdings Inc., 4.13%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 335 | 319804 |
| TriMas Corp., 4.13%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 240 | 223960 |
|  |  | 6946362 |
| **Pharmaceuticals — 0.7%** | **Pharmaceuticals — 0.7%** | **Pharmaceuticals — 0.7%** |
| 180 Medical Inc., 3.88%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 279020 |
| HLF Financing SARL LLC/Herbalife International Inc., <br> 12.25%, 04/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 371 | 373172 |
| Jazz Securities DAC, 4.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 705 | 667137 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV |  |  |
| 4.13%, 04/30/28<sup>(b)</sup> | &nbsp;&nbsp; 1130 | 1070688 |
| 6.75%, 05/15/34<sup>(b)</sup> | &nbsp;&nbsp; 280 | 280531 |
|  |  | 2670548 |
| **Pipelines — 6.3%** | **Pipelines — 6.3%** | **Pipelines — 6.3%** |
| Antero Midstream Partners LP/Antero Midstream <br> Finance Corp.<br>|  |  |
| 5.38%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 395 | 384713 |
| 5.75%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 350 | 349346 |
| 5.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 352 | 350091 |
| 6.63%, 02/01/32<sup>(b)</sup> | &nbsp;&nbsp; 335 | 338721 |
| Buckeye Partners LP |  |  |
| 3.95%, 12/01/26 | &nbsp;&nbsp; 315 | 302843 |
| 4.13%, 12/01/27 | &nbsp;&nbsp; 226 | 216057 |
| 4.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 238114 |
| 5.60%, 10/15/44 | &nbsp;&nbsp; 165 | 139983 |
| 5.85%, 11/15/43 | &nbsp;&nbsp; 215 | 185842 |
| 6.88%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 305 | 310015 |
| CNX Midstream Partners LP, 4.75%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 220 | 204780 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC |  |  |
| 5.50%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 851 | 809809 |
| 7.50%, 12/15/33<sup>(b)</sup> | &nbsp;&nbsp; 45 | 47611 |
| DT Midstream Inc. |  |  |
| 4.13%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 614 | 576582 |
| 4.38%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 530 | 487556 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Energy Transfer LP |  |  |
| 7.13%, 10/01/54, (5-year CMT + 2.829%)<sup>(a)(d)</sup> | &nbsp;&nbsp; $230 | $232446 |
| 8.00%, 05/15/54, (5-year CMT + 4.020%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 381 | 403706 |
| EQM Midstream Partners LP |  |  |
| 4.13%, 12/01/26 | &nbsp;&nbsp; 260 | 254381 |
| 4.50%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 409 | 393719 |
| 4.75%, 01/15/31<sup>(b)</sup> | &nbsp;&nbsp; 586 | 557061 |
| 5.50%, 07/15/28 | &nbsp;&nbsp; 453 | 449618 |
| 6.38%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 330 | 335136 |
| 6.50%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 482 | 493026 |
| 6.50%, 07/15/48 | &nbsp;&nbsp; 285 | 286807 |
| 7.50%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 275 | 281175 |
| 7.50%, 06/01/30<sup>(b)</sup> | &nbsp;&nbsp; 235 | 252722 |
| Harvest Midstream I LP |  |  |
| 7.50%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 425 | 429928 |
| 7.50%, 05/15/32<sup>(b)</sup> | &nbsp;&nbsp; 295 | 302043 |
| Hess Midstream Operations LP |  |  |
| 4.25%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 407 | 380036 |
| 5.13%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 309 | 302375 |
| 5.50%, 10/15/30<sup>(b)</sup> | &nbsp;&nbsp; 250 | 244269 |
| 5.63%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 223 | 222464 |
| 6.50%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 326 | 331410 |
| Kinetik Holdings LP |  |  |
| 5.88%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 510 | 506074 |
| 6.63%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 410 | 418753 |
| Northriver Midstream Finance LP, 6.75%, 07/15/32<sup>(b)</sup> | &nbsp;&nbsp; 297 | 304794 |
| NuStar Logistics LP |  |  |
| 5.63%, 04/28/27 | &nbsp;&nbsp; 280 | 277823 |
| 6.00%, 06/01/26 | &nbsp;&nbsp; 269 | 269211 |
| 6.38%, 10/01/30 | &nbsp;&nbsp; 325 | 328668 |
| Rockies Express Pipeline LLC |  |  |
| 4.80%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 195 | 180339 |
| 4.95%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 281813 |
| 6.88%, 04/15/40<sup>(b)</sup> | &nbsp;&nbsp; 280 | 265477 |
| 7.50%, 07/15/38<sup>(b)</sup> | &nbsp;&nbsp; 140 | 142113 |
| South Bow Canadian Infrastructure Holdings Ltd. |  |  |
| 7.50%, 03/01/55, (5-year CMT + 3.667%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 355 | 368681 |
| 7.63%, 03/01/55, (5-year CMT + 3.949%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 245 | 252273 |
| Venture Global Calcasieu Pass LLC |  |  |
| 3.88%, 11/01/33<sup>(b)</sup> | &nbsp;&nbsp; 660 | 573417 |
| 6.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 535 | 546854 |
| 3.88%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 661 | 609472 |
| 4.13%, 08/15/31<sup>(b)</sup> | &nbsp;&nbsp; 655 | 596991 |
| Venture Global LNG Inc. |  |  |
| 7.00%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 788 | 792864 |
| 8.13%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 1182 | 1226659 |
| 8.38%, 06/01/31<sup>(b)</sup> | &nbsp;&nbsp; 1175 | 1220455 |
| 9.50%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 1570 | 1735329 |
| 9.88%, 02/01/32<sup>(b)</sup> | &nbsp;&nbsp; 1043 | 1138463 |
|  |  | 23130908 |
| **Real Estate — 0.5%** | **Real Estate — 0.5%** | **Real Estate — 0.5%** |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| 6.75%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 298 | 299612 |
| 8.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 215 | 231643 |
| Greystar Real Estate Partners LLC, 7.75%, <br> 09/01/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 200 | 209557 |
| Howard Hughes Corp. (The) |  |  |
| 4.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 333 | 306662 |
| 4.38%, 02/01/31<sup>(b)</sup> | &nbsp;&nbsp; 340 | 304690 |
| 5.38%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 407 | 395677 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate (continued)** | **Real Estate (continued)** | **Real Estate (continued)** |
| Newmark Group Inc., 7.50%, 01/12/29 | &nbsp;&nbsp; $280 | $296443 |
|  |  | 2044284 |
| **Real Estate Investment Trusts — 3.6%** | **Real Estate Investment Trusts — 3.6%** | **Real Estate Investment Trusts — 3.6%** |
| Blackstone Mortgage Trust Inc., 3.75%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 209 | 195442 |
| Brandywine Operating Partnership LP |  |  |
| 3.95%, 11/15/27 | &nbsp;&nbsp; 243 | 227387 |
| 4.55%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 160 | 147291 |
| 8.30%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 185 | 194367 |
| 8.88%, 04/12/29 | &nbsp;&nbsp; 210 | 227586 |
| CTR Partnership LP/CareTrust Capital Corp., 3.88%, <br> 06/30/28<sup>(b)</sup><br>| &nbsp;&nbsp; 189 | 179035 |
| Global Net Lease Inc./Global Net Lease Operating <br> Partnership LP, 3.75%, 12/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 290 | 265959 |
| Hudson Pacific Properties LP |  |  |
| 3.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 225 | 164316 |
| 3.95%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 180 | 161403 |
| 4.65%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 270 | 215991 |
| 5.95%, 02/15/28 | &nbsp;&nbsp; 203 | 179938 |
| Iron Mountain Inc. |  |  |
| 4.50%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 553 | 513479 |
| 4.88%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 545 | 535646 |
| 4.88%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 532 | 512345 |
| 5.00%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 277 | 269932 |
| 5.25%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 438 | 429862 |
| 5.25%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp; 675 | 652634 |
| 5.63%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 291 | 282298 |
| 7.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 485 | 498738 |
| Iron Mountain Information Management Services Inc., <br> 5.00%, 07/15/32<sup>(b)</sup><br>| &nbsp;&nbsp; 390 | 367573 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp.<br>|  |  |
| 4.25%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 300 | 290472 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 320 | 304872 |
| 7.00%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 290 | 300774 |
| Necessity Retail REIT Inc./American Finance <br> Operating Partner LP (The), 4.50%, 09/30/28<sup>(b)</sup><br>| &nbsp;&nbsp; 260 | 239465 |
| Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer<br>|  |  |
| 4.88%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 363 | 345756 |
| 5.88%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 385 | 380992 |
| 7.00%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 310 | 317560 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| 4.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 320 | 306381 |
| 4.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 365 | 357285 |
| 6.50%, 04/01/32<sup>(b)</sup> | &nbsp;&nbsp; 517 | 523135 |
| 7.25%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 220 | 228188 |
| RLJ Lodging Trust LP |  |  |
| 3.75%, 07/01/26<sup>(b)</sup> | &nbsp;&nbsp; 260 | 251819 |
| 4.00%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 270 | 243345 |
| SBA Communications Corp. |  |  |
| 3.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 779 | 708923 |
| 3.88%, 02/15/27 | &nbsp;&nbsp; 780 | 754917 |
| Starwood Property Trust Inc. |  |  |
| 3.63%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; 240 | 230037 |
| 4.38%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 254 | 244822 |
| 6.00%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 175 | 171539 |
| 7.25%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 330 | 337686 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Vornado Realty LP |  |  |
| 2.15%, 06/01/26 | &nbsp;&nbsp; $195 | $184570 |
| 3.40%, 06/01/31 | &nbsp;&nbsp; 195 | 165983 |
|  |  | 13109743 |
| **Retail — 5.3%** | **Retail — 5.3%** | **Retail — 5.3%** |
| 1011778 BC ULC/New Red Finance Inc. |  |  |
| 3.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 400 | 369271 |
| 3.88%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 810 | 772046 |
| 5.63%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 248 | 247373 |
| Academy Ltd., 6.00%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 240 | 238754 |
| Advance Auto Parts Inc. |  |  |
| 1.75%, 10/01/27 | &nbsp;&nbsp; 205 | 182281 |
| 3.50%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 134 | 110275 |
| 3.90%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 280 | 249325 |
| 5.90%, 03/09/26 | &nbsp;&nbsp; 150 | 151217 |
| 5.95%, 03/09/28<sup>(a)</sup> | &nbsp;&nbsp; 168 | 169384 |
| Asbury Automotive Group Inc. |  |  |
| 4.50%, 03/01/28 | &nbsp;&nbsp; 200 | 193052 |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 405 | 379210 |
| 4.75%, 03/01/30 | &nbsp;&nbsp; 225 | 211737 |
| 5.00%, 02/15/32<sup>(b)</sup> | &nbsp;&nbsp; 320 | 294786 |
| Bath & Body Works Inc. |  |  |
| 5.25%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 265 | 261318 |
| 6.63%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 445 | 445576 |
| 6.69%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 152 | 155592 |
| 6.75%, 07/01/36 | &nbsp;&nbsp; 280 | 281509 |
| 6.88%, 11/01/35 | &nbsp;&nbsp; 436 | 442546 |
| 7.50%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 219 | 225494 |
| Beacon Roofing Supply Inc. |  |  |
| 4.50%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 143 | 140152 |
| 6.50%, 08/01/30<sup>(b)</sup> | &nbsp;&nbsp; 315 | 320189 |
| FirstCash Inc. |  |  |
| 4.63%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 260 | 246268 |
| 5.63%, 01/01/30<sup>(b)</sup> | &nbsp;&nbsp; 315 | 305811 |
| 6.88%, 03/01/32<sup>(b)</sup> | &nbsp;&nbsp; 275 | 278134 |
| Foot Locker Inc., 4.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 206 | 177008 |
| Gap Inc. (The) |  |  |
| 3.63%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 400 | 358975 |
| 3.88%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 416 | 357480 |
| Group 1 Automotive Inc. |  |  |
| 4.00%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 405 | 380232 |
| 6.38%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 235 | 236054 |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of <br> America LLC, 4.75%, 06/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 380 | 376454 |
| Kohl's Corp. |  |  |
| 4.63%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 260 | 215622 |
| 5.55%, 07/17/45<sup>(a)</sup> | &nbsp;&nbsp; 230 | 153780 |
| Lithia Motors Inc. |  |  |
| 3.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 371 | 340469 |
| 4.38%, 01/15/31<sup>(b)</sup> | &nbsp;&nbsp; 315 | 288237 |
| 4.63%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 248 | 240639 |
| Macy's Retail Holdings LLC |  |  |
| 4.30%, 02/15/43 | &nbsp;&nbsp; 125 | 86225 |
| 4.50%, 12/15/34<sup>(a)</sup> | &nbsp;&nbsp; 206 | 172050 |
| 5.13%, 01/15/42 | &nbsp;&nbsp; 149 | 114637 |
| 5.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 128 | 125072 |
| 5.88%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 220 | 212773 |
| 6.13%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 230 | 219755 |
| Marks & Spencer PLC, 7.13%, 12/01/37<sup>(b)</sup> | &nbsp;&nbsp; 170 | 186706 |
| Murphy Oil USA Inc. |  |  |
| 3.75%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 278 | 247034 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 4.75%, 09/15/29 | &nbsp;&nbsp; $272 | $259957 |
| 5.63%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 148 | 148373 |
| Nordstrom Inc. |  |  |
| 4.00%, 03/15/27 | &nbsp;&nbsp; 180 | 173243 |
| 4.25%, 08/01/31 | &nbsp;&nbsp; 221 | 194442 |
| 4.38%, 04/01/30 | &nbsp;&nbsp; 275 | 249271 |
| 5.00%, 01/15/44 | &nbsp;&nbsp; 500 | 376205 |
| 6.95%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 155 | 160583 |
| Penske Automotive Group Inc., 3.75%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 275 | 251638 |
| PetSmart Inc./PetSmart Finance Corp., 4.75%, <br> 02/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 645 | 613161 |
| Sally Holdings LLC/Sally Capital Inc., 6.75%, <br> 03/01/32<sup>(a)</sup><br>| &nbsp;&nbsp; 336 | 340187 |
| Sonic Automotive Inc. |  |  |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 367 | 337006 |
| 4.88%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 266 | 239174 |
| Superior Plus LP/Superior General Partner Inc., <br> 4.50%, 03/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 340 | 313710 |
| Vivo Energy Investments BV, 5.13%, 09/24/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195576 |
| Walgreens Boots Alliance Inc. |  |  |
| 3.20%, 04/15/30 | &nbsp;&nbsp; 245 | 194780 |
| 3.45%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 750 | 721456 |
| 4.10%, 04/15/50<sup>(a)</sup> | &nbsp;&nbsp; 344 | 221852 |
| 4.50%, 11/18/34 | &nbsp;&nbsp; 175 | 136020 |
| 4.65%, 06/01/46 | &nbsp;&nbsp; 165 | 107671 |
| 4.80%, 11/18/44 | &nbsp;&nbsp; 340 | 250125 |
| 8.13%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 415 | 412477 |
| Yum! Brands Inc. |  |  |
| 3.63%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 564 | 510743 |
| 4.63%, 01/31/32 | &nbsp;&nbsp; 584 | 547514 |
| 4.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 423 | 409303 |
| 5.35%, 11/01/43 | &nbsp;&nbsp; 160 | 155749 |
| 5.38%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 510 | 496390 |
| 6.88%, 11/15/37 | &nbsp;&nbsp; 170 | 188888 |
|  |  | 19365996 |
| **Semiconductors — 0.7%** | **Semiconductors — 0.7%** | **Semiconductors — 0.7%** |
| Amkor Technology Inc., 6.63%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 285 | 285870 |
| Entegris Inc. |  |  |
| 3.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 211 | 193072 |
| 4.38%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 220 | 210334 |
| 4.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 836 | 809882 |
| 5.95%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 483 | 482473 |
| ON Semiconductor Corp., 3.88%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 395 | 370391 |
| Synaptics Inc., 4.00%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 205 | 188054 |
|  |  | 2540076 |
| **Software — 1.3%** | **Software — 1.3%** | **Software — 1.3%** |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(b)</sup> | &nbsp;&nbsp; 405 | 397848 |
| Clarivate Science Holdings Corp., 3.88%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 456 | 430358 |
| Elastic NV, 4.13%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 310 | 286867 |
| Fair Isaac Corp. |  |  |
| 4.00%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 487 | 462481 |
| 5.25%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 195 | 195227 |
| Open Text Corp. |  |  |
| 3.88%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 512 | 481581 |
| 3.88%, 12/01/29<sup>(b)</sup> | &nbsp;&nbsp; 409 | 373134 |
| Open Text Holdings Inc. |  |  |
| 4.13%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 477 | 437907 |
| 4.13%, 12/01/31<sup>(b)</sup> | &nbsp;&nbsp; 298 | 267635 |
| PTC Inc., 4.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 239166 |
| RingCentral Inc., 8.50%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 208 | 219985 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| ROBLOX Corp., 3.88%, 05/01/30<sup>(b)</sup> | &nbsp;&nbsp; $530 | $479675 |
| Twilio Inc. |  |  |
| 3.63%, 03/15/29 | &nbsp;&nbsp; 280 | 257840 |
| 3.88%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 240 | 216493 |
|  |  | 4746197 |
| **Telecommunications — 3.3%** | **Telecommunications — 3.3%** | **Telecommunications — 3.3%** |
| British Telecommunications PLC |  |  |
| 4.25%, 11/23/81, (5-year CMT + 2.985%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 290 | 279418 |
| 4.88%, 11/23/81, (5-year CMT + 3.493%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 285 | 261604 |
| Ciena Corp., 4.00%, 01/31/30<sup>(b)</sup> | &nbsp;&nbsp; 224 | 206701 |
| Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, <br> 09/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 1035 | 983093 |
| Intelsat Jackson Holdings SA, 6.50%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 1543 | 1449774 |
| Millicom International Cellular SA |  |  |
| 4.50%, 04/27/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 410 | 369888 |
| 5.13%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 239 | 231959 |
| 6.25%, 03/25/29<sup>(b)</sup> | &nbsp;&nbsp; 360 | 357787 |
| 7.38%, 04/02/32<sup>(b)</sup> | &nbsp;&nbsp; 230 | 234965 |
| Optics Bidco SpA |  |  |
| Series 2033, 6.38%, 11/15/33<sup>(b)</sup> | &nbsp;&nbsp; 265 | 267048 |
| Series 2034, 6.00%, 09/30/34<sup>(b)</sup> | &nbsp;&nbsp; 300 | 292438 |
| Series 2036, 7.20%, 07/18/36<sup>(b)</sup> | &nbsp;&nbsp; 235 | 241749 |
| Series 2038, 7.72%, 06/04/38<sup>(b)</sup> | &nbsp;&nbsp; 275 | 291714 |
| Rogers Communications Inc., 5.25%, 03/15/82, <br> (5-year CMT + 3.590%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 395 | 386644 |
| Sable International Finance Ltd., 7.13%, 10/15/32<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201000 |
| Telecom Italia Capital SA |  |  |
| 6.00%, 09/30/34<sup>(a)</sup> | &nbsp;&nbsp; 271 | 263636 |
| 6.38%, 11/15/33 | &nbsp;&nbsp; 260 | 262757 |
| 7.20%, 07/18/36 | &nbsp;&nbsp; 245 | 248433 |
| 7.72%, 06/04/38 | &nbsp;&nbsp; 261 | 271656 |
| U.S. Cellular Corp., 6.70%, 12/15/33 | &nbsp;&nbsp; 315 | 339808 |
| ViaSat Inc., 5.63%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 325 | 303396 |
| Viavi Solutions Inc., 3.75%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 190562 |
| Vmed O2 U.K. Financing I PLC |  |  |
| 4.25%, 01/31/31<sup>(b)</sup> | &nbsp;&nbsp; 545 | 470155 |
| 4.75%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 740 | 640862 |
| 7.75%, 04/15/32<sup>(b)</sup> | &nbsp;&nbsp; 395 | 395477 |
| Vodafone Group PLC |  |  |
| 3.25%, 06/04/81, (5-year CMT + 2.447%)<sup>(d)</sup> | &nbsp;&nbsp; 195 | 187214 |
| 4.13%, 06/04/81, (5-year CMT + 2.767%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 555 | 499094 |
| 5.13%, 06/04/81, (5-year CMT + 3.073%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 505 | 403113 |
| 7.00%, 04/04/79, (5-year USD Swap + 4.873%)<sup>(d)</sup> | &nbsp;&nbsp; 1059 | 1109209 |
| Zegona Finance PLC, 8.63%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 510 | 538688 |
|  |  | 12179842 |
| **Transportation — 0.7%** | **Transportation — 0.7%** | **Transportation — 0.7%** |
| Cargo Aircraft Management Inc., 4.75%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 345 | 329157 |
| Danaos Corp., 8.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 155 | 159336 |
| First Student Bidco Inc./First Transit Parent Inc., <br> 4.00%, 07/31/29<sup>(b)</sup><br>| &nbsp;&nbsp; 355 | 326800 |
| Genesee & Wyoming Inc., 6.25%, 04/15/32<sup>(b)</sup> | &nbsp;&nbsp; 375 | 378277 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| Rand Parent LLC, 8.50%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; $428 | $427058 |
| RXO Inc., 7.50%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 210 | 216468 |
| XPO CNW Inc., 6.70%, 05/01/34 | &nbsp;&nbsp; 143 | 149794 |
| XPO Inc. |  |  |
| 7.13%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 267 | 276353 |
| 7.13%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 316 | 328272 |
|  |  | 2591515 |
| **Trucking & Leasing — 0.5%** | **Trucking & Leasing — 0.5%** | **Trucking & Leasing — 0.5%** |
| Fortress Transportation and Infrastructure <br> Investors LLC<br>|  |  |
| 5.88%, 04/15/33<sup>(b)</sup> | &nbsp;&nbsp; 250 | 243739 |
| 7.00%, 05/01/31<sup>(b)</sup> | &nbsp;&nbsp; 359 | 369201 |
| 7.00%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 430921 |
| 7.88%, 12/01/30<sup>(b)</sup> | &nbsp;&nbsp; 270 | 284440 |
| 5.50%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 542 | 531356 |
|  |  | 1859657 |
| **Total Long-Term Investments — 97.8%** <br>**(Cost: $355,080,587)** | **Total Long-Term Investments — 97.8%** <br>**(Cost: $355,080,587)** | 359491141 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 16.7%** | **Money Market Funds — 16.7%** | **Money Market Funds — 16.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 60380703 | 60422970 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 830000 | 830000 |
| **Total Short-Term Securities — 16.7%** <br>**(Cost: $61,215,786)** | **Total Short-Term Securities — 16.7%** <br>**(Cost: $61,215,786)** | 61252970 |
| **Total Investments — 114.5%** <br>**(Cost: $416,296,373)** | **Total Investments — 114.5%** <br>**(Cost: $416,296,373)** | 420744111 |
| **Liabilities in Excess of Other Assets — (14.5)%** | **Liabilities in Excess of Other Assets — (14.5)%** | (53299418)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $367444693 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(d)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(e)</sup> Perpetual security with no stated maturity date.

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® BB Rated Corporate Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $43738963 | $16671435 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4732)<br>| $17304 | $60422970 | 60380703 | $190734 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 1370000 |  | &nbsp;&nbsp; (540000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 830000 | 830000 | 73182 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(4732)<br>| $17304 | $61252970 |  | $263916 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $359491141 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $359491141 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 61252970 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 61252970 |
|  | &nbsp;&nbsp; $61252970 | &nbsp;&nbsp; $359491141 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $420744111 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Convertible Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** |
| Rocket Lab USA Inc., 4.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; $3250 | $7431757 |
| Virgin Galactic Holdings Inc., 2.50%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4613 | 1600692 |
|  |  | 9032449 |
| **Airlines — 1.5%** | **Airlines — 1.5%** | **Airlines — 1.5%** |
| American Airlines Group Inc., 6.50%, 07/01/25 | &nbsp;&nbsp; 8910 | 9405966 |
| JetBlue Airways Corp. |  |  |
| 0.50%, 04/01/26 | &nbsp;&nbsp; 3106 | 2868306 |
| 2.50%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4150 | 4722196 |
| Southwest Airlines Co., 1.25%, 05/01/25 | &nbsp;&nbsp; 14560 | 14737812 |
| Spirit Airlines Inc., 1.00%, 05/15/26 | &nbsp;&nbsp; 5575 | 1975993 |
|  |  | 33710273 |
| **Auto Manufacturers — 3.5%** | **Auto Manufacturers — 3.5%** | **Auto Manufacturers — 3.5%** |
| Fisker Inc., 2.50%, 09/15/26<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 9875 | 987 |
| Ford Motor Co., 0.00% 03/15/26<sup>(d)</sup> | &nbsp;&nbsp; 20640 | 20070993 |
| Li Auto Inc., 0.25%, 05/01/28 | &nbsp;&nbsp; 7825 | 9206871 |
| Lucid Group Inc., 1.25%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 18175 | 13303893 |
| NIO Inc. |  |  |
| 0.50%, 02/01/27 | &nbsp;&nbsp; 4375 | 4264348 |
| 3.88%, 10/15/29 | &nbsp;&nbsp; 5275 | 4288309 |
| 4.63%, 10/15/30 | &nbsp;&nbsp; 5250 | 4022407 |
| Rivian Automotive Inc. |  |  |
| 3.63%, 10/15/30 | &nbsp;&nbsp; 15550 | 11933010 |
| 4.63%, 03/15/29 | &nbsp;&nbsp; 13550 | 11790840 |
|  |  | 78881658 |
| **Biotechnology — 4.9%** | **Biotechnology — 4.9%** | **Biotechnology — 4.9%** |
| Alnylam Pharmaceuticals Inc., 1.00%, 09/15/27 | &nbsp;&nbsp; 9300 | 10616193 |
| ANI Pharmaceuticals Inc., 2.25%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3050 | 3156682 |
| BioMarin Pharmaceutical Inc., 1.25%, 05/15/27 | &nbsp;&nbsp; 5503 | 5152683 |
| Bridgebio Pharma Inc. |  |  |
| 2.25%, 02/01/29 | &nbsp;&nbsp; 6825 | 5631211 |
| 2.50%, 03/15/27 | &nbsp;&nbsp; 4995 | 5001043 |
| Cytokinetics Inc., 3.50%, 07/01/27 | &nbsp;&nbsp; 4875 | 6135247 |
| Esperion Therapeutics Inc., 4.00%, 11/15/25 | &nbsp;&nbsp; 2046 | 1947402 |
| Guardant Health Inc., 0.00% 11/15/27<sup>(d)</sup> | &nbsp;&nbsp; 9765 | 7877334 |
| Halozyme Therapeutics Inc. |  |  |
| 0.25%, 03/01/27 | &nbsp;&nbsp; 7360 | 7062416 |
| 1.00%, 08/15/28 | &nbsp;&nbsp; 6525 | 7207243 |
| Immunocore Holdings PLC, 2.50%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 3375 | 2918277 |
| Innoviva Inc., 2.13%, 03/15/28 | &nbsp;&nbsp; 2250 | 2194349 |
| Insmed Inc., 0.75%, 06/01/28 | &nbsp;&nbsp; 5049 | 10723947 |
| Ionis Pharmaceuticals Inc. |  |  |
| 0.00%, 04/01/26<sup>(d)</sup> | &nbsp;&nbsp; 6042 | 5966547 |
| 1.75%, 06/15/28 | &nbsp;&nbsp; 5100 | 5176464 |
| Livongo Health Inc., 0.88%, 06/01/25 | &nbsp;&nbsp; 5100 | 4960677 |
| NeoGenomics Inc., 0.25%, 01/15/28 | &nbsp;&nbsp; 2779 | 2286444 |
| PTC Therapeutics Inc., 1.50%, 09/15/26 | &nbsp;&nbsp; 2325 | 2462681 |
| Sarepta Therapeutics Inc., 1.25%, 09/15/27 | &nbsp;&nbsp; 10325 | 11689343 |
| Travere Therapeutics Inc., 2.25%, 03/01/29 | &nbsp;&nbsp; 3000 | 2856144 |
|  |  | 111022327 |
| **Coal — 0.2%** | **Coal — 0.2%** | **Coal — 0.2%** |
| Peabody Energy Corp., 3.25%, 03/01/28 | &nbsp;&nbsp; 2925 | 4354786 |
| **Commercial Services — 3.2%** | **Commercial Services — 3.2%** | **Commercial Services — 3.2%** |
| Affirm Holdings Inc., 0.00% 11/15/26<sup>(d)</sup> | &nbsp;&nbsp; 11525 | 10211491 |
| Alarm.com Holdings Inc. |  |  |
| 0.00%, 01/15/26<sup>(d)</sup> | &nbsp;&nbsp; 3816 | 3567267 |
| 2.25%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4800 | 4516152 |
| Block Inc. |  |  |
| 0.00%, 05/01/26<sup>(d)</sup> | &nbsp;&nbsp; 4875 | 4485001 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| 0.25%, 11/01/27 | &nbsp;&nbsp; $5329 | $4585422 |
| Euronet Worldwide Inc., 0.75%, 03/15/49 | &nbsp;&nbsp; 4527 | 4447614 |
| Global Payments Inc., 1.50%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 18178 | 17329282 |
| Repay Holdings Corp., 2.88%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2450 | 2348588 |
| Shift4 Payments Inc. |  |  |
| 0.00%, 12/15/25<sup>(d)</sup> | &nbsp;&nbsp; 6410 | 7835092 |
| 0.50%, 08/01/27 | &nbsp;&nbsp; 5300 | 5445445 |
| Stride Inc., 1.13%, 09/01/27 | &nbsp;&nbsp; 3683 | 6712934 |
|  |  | 71484288 |
| **Computers — 5.4%** | **Computers — 5.4%** | **Computers — 5.4%** |
| Insight Enterprises Inc., 0.75%, 02/15/25 | &nbsp;&nbsp; 3003 | 7693652 |
| Lumentum Holdings Inc. |  |  |
| 0.50%, 12/15/26 | &nbsp;&nbsp; 9546 | 9417668 |
| 0.50%, 06/15/28 | &nbsp;&nbsp; 7400 | 6447622 |
| 1.50%, 12/15/29 | &nbsp;&nbsp; 5595 | 6484809 |
| PAR Technology Corp., 1.50%, 10/15/27 | &nbsp;&nbsp; 2246 | 2348489 |
| Parsons Corp., 2.63%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7150 | 9260678 |
| Rapid7 Inc. |  |  |
| 0.25%, 03/15/27 | &nbsp;&nbsp; 4780 | 4479486 |
| 1.25%, 03/15/29 | &nbsp;&nbsp; 2850 | 2715806 |
| Seagate HDD Cayman, 3.50%, 06/01/28 | &nbsp;&nbsp; 13575 | 18168101 |
| Super Micro Computer Inc., 0.00% 03/01/29<sup>(a)(d)</sup> | &nbsp;&nbsp; 15553 | 12105093 |
| Varonis Systems Inc. |  |  |
| 1.00%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4250 | 4298539 |
| 1.25%, 08/15/25 | &nbsp;&nbsp; 2341 | 3855679 |
| Western Digital Corp., 3.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 14340 | 20523917 |
| Zscaler Inc., 0.13%, 07/01/25 | &nbsp;&nbsp; 10432 | 13169081 |
|  |  | 120968620 |
| **Cosmetics & Personal Care — 0.2%** | **Cosmetics & Personal Care — 0.2%** | **Cosmetics & Personal Care — 0.2%** |
| Beauty Health Co. (The), 1.25%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5046 | 4174078 |
| **Diversified Financial Services — 2.1%** | **Diversified Financial Services — 2.1%** | **Diversified Financial Services — 2.1%** |
| Coinbase Global Inc. |  |  |
| 0.25%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 11425 | 10397240 |
| 0.50%, 06/01/26 | &nbsp;&nbsp; 11525 | 11285575 |
| SoFi Technologies Inc. |  |  |
| 0.00%, 10/15/26<sup>(a)(d)</sup> | &nbsp;&nbsp; 4043 | 3826908 |
| 1.25%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8075 | 11059228 |
| Upstart Holdings Inc. |  |  |
| 0.25%, 08/15/26 | &nbsp;&nbsp; 2950 | 2657035 |
| 2.00%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3950 | 5118176 |
| WisdomTree Inc., 3.25%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3000 | 3204691 |
|  |  | 47548853 |
| **Electric — 7.4%** | **Electric — 7.4%** | **Electric — 7.4%** |
| Alliant Energy Corp., 3.88%, 03/15/26 | &nbsp;&nbsp; 5275 | 5482921 |
| CenterPoint Energy Inc., 4.25%, 08/15/26 | &nbsp;&nbsp; 9075 | 9148209 |
| CMS Energy Corp., 3.38%, 05/01/28 | &nbsp;&nbsp; 7225 | 7662905 |
| Duke Energy Corp., 4.13%, 04/15/26 | &nbsp;&nbsp; 15431 | 16284083 |
| Evergy Inc., 4.50%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 12489 | 13506116 |
| FirstEnergy Corp., 4.00%, 05/01/26 | &nbsp;&nbsp; 13603 | 13870316 |
| NextEra Energy Capital Holdings Inc., 3.00%, <br> 03/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 8804 | 10925645 |
| Ormat Technologies Inc., 2.50%, 07/15/27 | &nbsp;&nbsp; 3425 | 3603375 |
| PG&E Corp., 4.25%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 19044 | 20791753 |
| Pinnacle West Capital Corp., 4.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5100 | 5463650 |
| PPL Capital Funding Inc., 2.88%, 03/15/28 | &nbsp;&nbsp; 9112 | 9530682 |
| Southern Co. (The) |  |  |
| 3.88%, 12/15/25 | &nbsp;&nbsp; 15550 | 17358430 |
| 4.50%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 13500 | 14737856 |
| TXNM Energy Inc., 5.75%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; 2900 | 3099554 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Convertible Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| WEC Energy Group Inc. |  |  |
| 4.38%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; $7500 | $8059918 |
| 4.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7750 | 8447751 |
|  |  | 167973164 |
| **Electronics — 1.2%** | **Electronics — 1.2%** | **Electronics — 1.2%** |
| Advanced Energy Industries Inc., 2.50%, 09/15/28 | &nbsp;&nbsp; 5200 | 5520122 |
| Itron Inc. |  |  |
| 0.00%, 03/15/26<sup>(d)</sup> | &nbsp;&nbsp; 4100 | 4349676 |
| 1.38%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7350 | 8017735 |
| OSI Systems Inc., 2.25%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3725 | 3636965 |
| Vishay Intertechnology Inc., 2.25%, 09/15/30 | &nbsp;&nbsp; 6825 | 5981245 |
|  |  | 27505743 |
| **Energy - Alternate Sources — 1.7%** | **Energy - Alternate Sources — 1.7%** | **Energy - Alternate Sources — 1.7%** |
| Array Technologies Inc., 1.00%, 12/01/28 | &nbsp;&nbsp; 3876 | 2877635 |
| Enphase Energy Inc. |  |  |
| 0.00%, 03/01/26<sup>(d)</sup> | &nbsp;&nbsp; 5468 | 5099816 |
| 0.00%, 03/01/28<sup>(d)</sup> | &nbsp;&nbsp; 5444 | 4574188 |
| NextEra Energy Partners LP |  |  |
| 0.00%, 11/15/25<sup>(a)(d)</sup> | &nbsp;&nbsp; 5520 | 5163884 |
| 2.50%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4450 | 4178092 |
| SolarEdge Technologies Inc. |  |  |
| 0.00%, 09/15/25<sup>(d)</sup> | &nbsp;&nbsp; 2985 | 2780716 |
| 2.25%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3100 | 2508518 |
| Stem Inc., 0.50%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2503 | 764700 |
| Sunnova Energy International Inc. |  |  |
| 0.25%, 12/01/26 | &nbsp;&nbsp; 5275 | 3477844 |
| 2.63%, 02/15/28 | &nbsp;&nbsp; 5450 | 2823524 |
| Sunrun Inc., 4.00%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 4167 | 4777045 |
|  |  | 39025962 |
| **Engineering & Construction — 0.8%** | **Engineering & Construction — 0.8%** | **Engineering & Construction — 0.8%** |
| Fluor Corp., 1.13%, 08/15/29 | &nbsp;&nbsp; 5045 | 6600940 |
| Granite Construction Inc. |  |  |
| 3.25%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3500 | 4489112 |
| 3.75%, 05/15/28 | &nbsp;&nbsp; 3360 | 6386952 |
|  |  | 17477004 |
| **Entertainment — 2.2%** | **Entertainment — 2.2%** | **Entertainment — 2.2%** |
| Cinemark Holdings Inc., 4.50%, 08/15/25 | &nbsp;&nbsp; 4015 | 8465615 |
| DraftKings Holdings Inc., 0.00% 03/15/28<sup>(d)</sup> | &nbsp;&nbsp; 11450 | 9677783 |
| Live Nation Entertainment Inc. |  |  |
| 2.00%, 02/15/25 | &nbsp;&nbsp; 4288 | 4857248 |
| 3.13%, 01/15/29 | &nbsp;&nbsp; 8325 | 10587856 |
| Marriott Vacations Worldwide Corp. |  |  |
| 0.00%, 01/15/26<sup>(d)</sup> | &nbsp;&nbsp; 4880 | 4547214 |
| 3.25%, 12/15/27 | &nbsp;&nbsp; 5250 | 4840891 |
| Penn Entertainment Inc., 2.75%, 05/15/26 | &nbsp;&nbsp; 2964 | 3277474 |
| Vail Resorts Inc., 0.00% 01/01/26<sup>(d)</sup> | &nbsp;&nbsp; 4717 | 4407653 |
|  |  | 50661734 |
| **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** |
| Tetra Tech Inc., 2.25%, 08/15/28 | &nbsp;&nbsp; 5200 | 7013711 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| Beyond Meat Inc., 0.00% 03/15/27<sup>(d)</sup> | &nbsp;&nbsp; 9075 | 1496892 |
| Chefs' Warehouse Inc. (The), 2.38%, 12/15/28 | &nbsp;&nbsp; 2650 | 2995041 |
| Post Holdings Inc., 2.50%, 08/15/27 | &nbsp;&nbsp; 5200 | 5952991 |
|  |  | 10444924 |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| UGI Corp., 5.00%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6400 | 6634529 |
| **Health Care - Products — 5.2%** | **Health Care - Products — 5.2%** | **Health Care - Products — 5.2%** |
| Alphatec Holdings Inc., 0.75%, 08/01/26 | &nbsp;&nbsp; 2908 | 2697670 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products (continued)** | **Health Care - Products (continued)** | **Health Care - Products (continued)** |
| CONMED Corp., 2.25%, 06/15/27 | &nbsp;&nbsp; $7048 | $6483761 |
| Enovis Corp., 3.88%, 10/15/28 | &nbsp;&nbsp; 3919 | 4082429 |
| Envista Holdings Corp., 1.75%, 08/15/28 | &nbsp;&nbsp; 4700 | 4258569 |
| Exact Sciences Corp. |  |  |
| 0.38%, 03/15/27 | &nbsp;&nbsp; 5255 | 5103406 |
| 0.38%, 03/01/28 | &nbsp;&nbsp; 4860 | 4528163 |
| 1.75%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 5350 | 5367434 |
| 2.00%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 5475 | 6204762 |
| Haemonetics Corp. |  |  |
| 0.00%, 03/01/26<sup>(d)</sup> | &nbsp;&nbsp; 3229 | 2996311 |
| 2.50%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 6300 | 6033217 |
| Insulet Corp., 0.38%, 09/01/26 | &nbsp;&nbsp; 7190 | 8481221 |
| Integer Holdings Corp., 2.13%, 02/15/28 | &nbsp;&nbsp; 4300 | 6532140 |
| Integra LifeSciences Holdings Corp., 0.50%, <br> 08/15/25<br>| &nbsp;&nbsp; 5068 | 4830875 |
| iRhythm Technologies Inc., 1.50%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 6125 | 5604952 |
| Lantheus Holdings Inc., 2.63%, 12/15/27 | &nbsp;&nbsp; 5300 | 8216284 |
| LivaNova USA Inc., 2.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3250 | 3408712 |
| Merit Medical Systems Inc., 3.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 6900 | 8973069 |
| Novocure Ltd., 0.00% 11/01/25<sup>(d)</sup> | &nbsp;&nbsp; 4585 | 4319247 |
| Omnicell Inc., 0.25%, 09/15/25 | &nbsp;&nbsp; 5008 | 4822406 |
| Repligen Corp., 1.00%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5446 | 5459942 |
| Tandem Diabetes Care Inc., Series 2024, 1.50%, <br> 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2850 | 3337058 |
| TransMedics Group Inc., 1.50%, 06/01/28 | &nbsp;&nbsp; 4100 | 4846192 |
|  |  | 116587820 |
| **Health Care - Services — 0.4%** | **Health Care - Services — 0.4%** | **Health Care - Services — 0.4%** |
| Brookdale Senior Living Inc., 3.50%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 750 | 724852 |
| Teladoc Health Inc., 1.25%, 06/01/27 | &nbsp;&nbsp; 9040 | 7777886 |
|  |  | 8502738 |
| **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** |
| Core Scientific Inc., 3.00%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4200 | 6269445 |
| MARA Holdings Inc. |  |  |
| 1.00%, 12/01/26 | &nbsp;&nbsp; 2625 | 2342668 |
| 2.13%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; 2900 | 3433390 |
| New Mountain Finance Corp., 7.50%, 10/15/25 | &nbsp;&nbsp; 2100 | 2113818 |
| Terawulf Inc., 2.75%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 4500 | 4904730 |
|  |  | 19064051 |
| **Home Builders — 0.6%** | **Home Builders — 0.6%** | **Home Builders — 0.6%** |
| LCI Industries, 1.13%, 05/15/26 | &nbsp;&nbsp; 4175 | 4148359 |
| Meritage Homes Corp., 1.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5325 | 5652544 |
| Winnebago Industries Inc., 3.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3225 | 3110639 |
|  |  | 12911542 |
| **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** |
| Spectrum Brands Inc., 3.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3446 | 3487464 |
| **Internet — 16.8%** | **Internet — 16.8%** | **Internet — 16.8%** |
| Airbnb Inc., 0.00% 03/15/26<sup>(d)</sup> | &nbsp;&nbsp; 17615 | 16409344 |
| Alibaba Group Holding Ltd., 0.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 45025 | 51914164 |
| Bilibili Inc., 0.50%, 12/01/26 | &nbsp;&nbsp; 3450 | 3424399 |
| Booking Holdings Inc., 0.75%, 05/01/25 | &nbsp;&nbsp; 7531 | 18734027 |
| Etsy Inc. |  |  |
| 0.13%, 10/01/26 | &nbsp;&nbsp; 5857 | 5647874 |
| 0.13%, 09/01/27 | &nbsp;&nbsp; 5948 | 5094656 |
| 0.25%, 06/15/28 | &nbsp;&nbsp; 9000 | 7353965 |
| Expedia Group Inc., 0.00% 02/15/26<sup>(d)</sup> | &nbsp;&nbsp; 9070 | 8735071 |
| Farfetch Ltd., 3.75%, 05/01/27 | &nbsp;&nbsp; 2275 | 28680 |
| Fiverr International Ltd., 0.00% 11/01/25<sup>(d)</sup> | &nbsp;&nbsp; 3939 | 3717017 |
| JD.com Inc., 0.25%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 18075 | 20618917 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Convertible Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| Lyft Inc. |  |  |
| 0.63%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; $4500 | $4378267 |
| 1.50%, 05/15/25 | &nbsp;&nbsp; 1000 | 979010 |
| Match Group Financeco 2 Inc., 0.88%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5025 | 4694160 |
| Match Group Financeco 3 Inc., 2.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5085 | 4501616 |
| Okta Inc. |  |  |
| 0.13%, 09/01/25 | &nbsp;&nbsp; 5020 | 4803261 |
| 0.38%, 06/15/26 | &nbsp;&nbsp; 5027 | 4645233 |
| Opendoor Technologies Inc., 0.25%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3275 | 2759477 |
| Palo Alto Networks Inc., 0.38%, 06/01/25 | &nbsp;&nbsp; 6138 | 22213051 |
| PDD Holdings Inc., 0.00% 12/01/25<sup>(d)</sup> | &nbsp;&nbsp; 6400 | 6286763 |
| Perficient Inc., 0.13%, 11/15/26 | &nbsp;&nbsp; 3120 | 3113080 |
| Q2 Holdings Inc., 0.75%, 06/01/26 | &nbsp;&nbsp; 2480 | 2784061 |
| RealReal Inc. (The), 1.00%, 03/01/28 | &nbsp;&nbsp; 2154 | 1083230 |
| Sea Ltd. |  |  |
| 0.25%, 09/15/26 | &nbsp;&nbsp; 13975 | 12588744 |
| 2.38%, 12/01/25 | &nbsp;&nbsp; 10569 | 12611570 |
| Shopify Inc., 0.13%, 11/01/25 | &nbsp;&nbsp; 8312 | 7990935 |
| Snap Inc. |  |  |
| 0.00%, 05/01/27<sup>(d)</sup> | &nbsp;&nbsp; 10500 | 9025391 |
| 0.13%, 03/01/28 | &nbsp;&nbsp; 13275 | 10744986 |
| 0.50%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6764 | 6052305 |
| Spotify USA Inc., 0.00% 03/15/26<sup>(d)</sup> | &nbsp;&nbsp; 13570 | 13668363 |
| TechTarget Inc., 0.00% 12/15/26<sup>(d)</sup> | &nbsp;&nbsp; 3775 | 3699494 |
| Trip.com Group Ltd., 0.75%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13600 | 16021674 |
| TripAdvisor Inc., 0.25%, 04/01/26 | &nbsp;&nbsp; 3100 | 2910225 |
| Uber Technologies Inc. |  |  |
| 0.00%, 12/15/25<sup>(d)</sup> | &nbsp;&nbsp; 10460 | 11254933 |
| 0.88%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 15450 | 18604763 |
| Upwork Inc., 0.25%, 08/15/26 | &nbsp;&nbsp; 3066 | 2807957 |
| Wayfair Inc. |  |  |
| 0.63%, 10/01/25 | &nbsp;&nbsp; 6560 | 6221323 |
| 1.00%, 08/15/26 | &nbsp;&nbsp; 8365 | 7659203 |
| 3.25%, 09/15/27 | &nbsp;&nbsp; 6600 | 6938884 |
| 3.50%, 11/15/28 | &nbsp;&nbsp; 6100 | 7502740 |
| Weibo Corp., 1.38%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 3075 | 3321832 |
| Wix.com Ltd., 0.00% 08/15/25<sup>(d)</sup> | &nbsp;&nbsp; 4622 | 4413723 |
| Ziff Davis Inc., 3.63%, 03/01/28<sup>(a)(e)</sup> | &nbsp;&nbsp; 2000 | 1904826 |
| Zillow Group Inc. |  |  |
| 1.38%, 09/01/26 | &nbsp;&nbsp; 4525 | 6180278 |
| 2.75%, 05/15/25 | &nbsp;&nbsp; 3800 | 4095497 |
|  |  | 380138969 |
| **Iron & Steel — 0.4%** | **Iron & Steel — 0.4%** | **Iron & Steel — 0.4%** |
| U.S. Steel Corp., 5.00%, 11/01/26 | &nbsp;&nbsp; 3132 | 9167364 |
| **Leisure Time — 2.8%** | **Leisure Time — 2.8%** | **Leisure Time — 2.8%** |
| Carnival Corp., 5.75%, 12/01/27 | &nbsp;&nbsp; 10225 | 18711720 |
| Liberty TripAdvisor Holdings Inc., 0.50%, <br> 06/30/51<sup>(a)</sup><br>| &nbsp;&nbsp; 2475 | 2325398 |
| NCL Corp. Ltd. |  |  |
| 1.13%, 02/15/27 | &nbsp;&nbsp; 10350 | 10682670 |
| 2.50%, 02/15/27 | &nbsp;&nbsp; 4300 | 4524267 |
| 5.38%, 08/01/25 | &nbsp;&nbsp; 4355 | 6239623 |
| Peloton Interactive Inc., 5.50%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3000 | 6292899 |
| Royal Caribbean Cruises Ltd., 6.00%, 08/15/25 | &nbsp;&nbsp; 2927 | 12161035 |
| Topgolf Callaway Brands Corp., 2.75%, 05/01/26 | &nbsp;&nbsp; 2123 | 2122735 |
|  |  | 63060347 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| H World Group Ltd., 3.00%, 05/01/26, <br> (Put 05/01/24)<br>| &nbsp;&nbsp; 4429 | 4977509 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery — 0.7%** | **Machinery — 0.7%** | **Machinery — 0.7%** |
| Bloom Energy Corp. |  |  |
| 3.00%, 06/01/28 | &nbsp;&nbsp; $5800 | $5061346 |
| 3.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4175 | 3343246 |
| Middleby Corp. (The), 1.00%, 09/01/25 | &nbsp;&nbsp; 6757 | 7430822 |
|  |  | 15835414 |
| **Manufacturing — 0.6%** | **Manufacturing — 0.6%** | **Manufacturing — 0.6%** |
| Axon Enterprise Inc., 0.50%, 12/15/27 | &nbsp;&nbsp; 5883 | 11134183 |
| John Bean Technologies Corp., 0.25%, 05/15/26 | &nbsp;&nbsp; 3700 | 3553295 |
|  |  | 14687478 |
| **Media — 3.9%** | **Media — 3.9%** | **Media — 3.9%** |
| Cable One Inc. |  |  |
| 0.00%, 03/15/26<sup>(d)</sup> | &nbsp;&nbsp; 5475 | 4994332 |
| 1.13%, 03/15/28 | &nbsp;&nbsp; 2866 | 2255647 |
| DISH Network Corp. |  |  |
| 0.00%, 12/15/25<sup>(d)</sup> | &nbsp;&nbsp; 16310 | 14529984 |
| 3.38%, 08/15/26 | &nbsp;&nbsp; 25158 | 20966563 |
| Liberty Broadband Corp. |  |  |
| 3.13%, 03/31/53<sup>(a)</sup> | &nbsp;&nbsp; 10906 | 10811046 |
| 3.13%, 06/30/54<sup>(a)</sup> | &nbsp;&nbsp; 6300 | 6795048 |
| Liberty Media Corp. |  |  |
| 2.38%, 09/30/53<sup>(a)</sup> | &nbsp;&nbsp; 10275 | 12855068 |
| 3.75%, 03/15/28 | &nbsp;&nbsp; 5619 | 6202727 |
| Liberty Media Corp.-Liberty Formula One, 2.25%, <br> 08/15/27<br>| &nbsp;&nbsp; 4350 | 4814523 |
| Sphere Entertainment Co., 3.50%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2075 | 2879604 |
|  |  | 87104542 |
| **Metal Fabricate & Hardware — 0.1%** | **Metal Fabricate & Hardware — 0.1%** | **Metal Fabricate & Hardware — 0.1%** |
| Xometry Inc., 1.00%, 02/01/27 | &nbsp;&nbsp; 2150 | 1896605 |
| **Mining — 0.4%** | **Mining — 0.4%** | **Mining — 0.4%** |
| Lithium Americas Argentina Corp., 1.75%, 01/15/27 | &nbsp;&nbsp; 2615 | 2061750 |
| MP Materials Corp., 3.00%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6616 | 7291229 |
|  |  | 9352979 |
| **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** |
| Xerox Holdings Corp., 3.75%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3725 | 2676643 |
| **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** |
| CNX Resources Corp., 2.25%, 05/01/26 | &nbsp;&nbsp; 2885 | 7670508 |
| Kosmos Energy Ltd., 3.13%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3700 | 3317155 |
| Nabors Industries Inc., 1.75%, 06/15/29 | &nbsp;&nbsp; 2350 | 1801300 |
| Northern Oil & Gas Inc., 3.63%, 04/15/29 | &nbsp;&nbsp; 4550 | 5249767 |
| Transocean Inc., 4.63%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 2325 | 3431739 |
|  |  | 21470469 |
| **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |
| Amphastar Pharmaceuticals Inc., 2.00%, 03/15/29 | &nbsp;&nbsp; 3375 | 3618770 |
| Ascendis Pharma A/S, 2.25%, 04/01/28 | &nbsp;&nbsp; 5150 | 5440285 |
| Dexcom Inc. |  |  |
| 0.25%, 11/15/25 | &nbsp;&nbsp; 10895 | 10387439 |
| 0.38%, 05/15/28 | &nbsp;&nbsp; 11300 | 9964305 |
| Herbalife Ltd., 4.25%, 06/15/28 | &nbsp;&nbsp; 2225 | 1683204 |
| Jazz Investments I Ltd. |  |  |
| 2.00%, 06/15/26 | &nbsp;&nbsp; 8975 | 8883040 |
| 3.13%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8991 | 9252262 |
| Mirum Pharmaceuticals Inc., 4.00%, 05/01/29 | &nbsp;&nbsp; 2750 | 4001113 |
| Pacira BioSciences Inc., 2.13%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2500 | 2006808 |
| Revance Therapeutics Inc., 1.75%, 02/15/27 | &nbsp;&nbsp; 2421 | 2279382 |
|  |  | 57516608 |
| **Real Estate — 0.3%** | **Real Estate — 0.3%** | **Real Estate — 0.3%** |
| Anywhere Real Estate Group LLC/Realogy <br> Co-Issuer Corp., 0.25%, 06/15/26<br>| &nbsp;&nbsp; 3325 | 2870674 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Convertible Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate (continued)** | **Real Estate (continued)** | **Real Estate (continued)** |
| Redfin Corp., 0.50%, 04/01/27 | &nbsp;&nbsp; $4475 | $3228637 |
|  |  | 6099311 |
| **Real Estate Investment Trusts — 3.7%** | **Real Estate Investment Trusts — 3.7%** | **Real Estate Investment Trusts — 3.7%** |
| Arbor Realty Trust Inc., 7.50%, 08/01/25 | &nbsp;&nbsp; 2725 | 2728003 |
| Blackstone Mortgage Trust Inc., 5.50%, 03/15/27 | &nbsp;&nbsp; 2947 | 2833767 |
| COPT Defense Properties LP, 5.25%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3238 | 3865960 |
| Federal Realty OP LP, 3.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4500 | 4622546 |
| HAT Holdings I LLC/HAT Holdings II LLC, 3.75%, <br> 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3575 | 4959420 |
| Pebblebrook Hotel Trust, 1.75%, 12/15/26 | &nbsp;&nbsp; 6560 | 5988505 |
| PennyMac Corp., 5.50%, 03/15/26 | &nbsp;&nbsp; 3285 | 3217557 |
| Rexford Industrial Realty LP |  |  |
| 4.13%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5325 | 5346692 |
| 4.38%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5275 | 5261023 |
| Starwood Property Trust Inc., 6.75%, 07/15/27 | &nbsp;&nbsp; 3300 | 3500813 |
| Summit Hotel Properties Inc., 1.50%, 02/15/26 | &nbsp;&nbsp; 2520 | 2370160 |
| Two Harbors Investment Corp., 6.25%, 01/15/26 | &nbsp;&nbsp; 2525 | 2482228 |
| Uniti Group Inc., 7.50%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2525 | 2766876 |
| Ventas Realty LP, 3.75%, 06/01/26 | &nbsp;&nbsp; 7825 | 9708432 |
| Welltower OP LLC |  |  |
| 2.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9275 | 13319308 |
| 3.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9575 | 11436834 |
|  |  | 84408124 |
| **Retail — 1.2%** | **Retail — 1.2%** | **Retail — 1.2%** |
| Burlington Stores Inc., 1.25%, 12/15/27 | &nbsp;&nbsp; 2675 | 3612068 |
| Cheesecake Factory Inc. (The), 0.38%, 06/15/26 | &nbsp;&nbsp; 3025 | 2915407 |
| Cracker Barrel Old Country Store Inc., 0.63%, <br> 06/15/26<br>| &nbsp;&nbsp; 2200 | 2027736 |
| Freshpet Inc., 3.00%, 04/01/28 | &nbsp;&nbsp; 3550 | 7168169 |
| Guess? Inc., 3.75%, 04/15/28 | &nbsp;&nbsp; 3207 | 3247941 |
| Patrick Industries Inc., 1.75%, 12/01/28 | &nbsp;&nbsp; 2600 | 3585651 |
| Shake Shack Inc., 0.00% 03/01/28<sup>(d)</sup> | &nbsp;&nbsp; 2250 | 2246053 |
| Vroom Inc., 0.75%, 07/01/26 | &nbsp;&nbsp; 2325 | 1230242 |
|  |  | 26033267 |
| **Semiconductors — 3.4%** | **Semiconductors — 3.4%** | **Semiconductors — 3.4%** |
| Impinj Inc., 1.13%, 05/15/27 | &nbsp;&nbsp; 2525 | 4486894 |
| MACOM Technology Solutions Holdings Inc., 0.25%, <br> 03/15/26<br>| &nbsp;&nbsp; 4063 | 5755011 |
| Microchip Technology Inc., 0.75%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 11355 | 10971725 |
| MKS Instruments Inc., 1.25%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 12654 | 12185419 |
| ON Semiconductor Corp. |  |  |
| 0.00%, 05/01/27<sup>(d)</sup> | &nbsp;&nbsp; 7150 | 10216348 |
| 0.50%, 03/01/29 | &nbsp;&nbsp; 13712 | 13671631 |
| Semtech Corp., 1.63%, 11/01/27 | &nbsp;&nbsp; 2875 | 3980583 |
| Wolfspeed Inc. |  |  |
| 0.25%, 02/15/28 | &nbsp;&nbsp; 6900 | 4074960 |
| 1.75%, 05/01/26 | &nbsp;&nbsp; 5826 | 5144488 |
| 1.88%, 12/01/29 | &nbsp;&nbsp; 14293 | 7171332 |
|  |  | 77658391 |
| **Software — 14.5%** | **Software — 14.5%** | **Software — 14.5%** |
| Akamai Technologies Inc. |  |  |
| 0.13%, 05/01/25 | &nbsp;&nbsp; 10422 | 11629871 |
| 0.38%, 09/01/27 | &nbsp;&nbsp; 10376 | 10691328 |
| 1.13%, 02/15/29 | &nbsp;&nbsp; 11350 | 11501225 |
| Bandwidth Inc., 0.50%, 04/01/28 | &nbsp;&nbsp; 2029 | 1592920 |
| Bentley Systems Inc. |  |  |
| 0.13%, 01/15/26 | &nbsp;&nbsp; 5731 | 5653562 |
| 0.38%, 07/01/27 | &nbsp;&nbsp; 5600 | 5073373 |
| BILL Holdings Inc., 0.00% 04/01/27<sup>(d)</sup> | &nbsp;&nbsp; 5246 | 4626731 |
| BlackLine Inc., 1.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5868 | 6113364 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Box Inc., 1.50%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; $4351 | $4271125 |
| Cloudflare Inc., 0.00% 08/15/26<sup>(d)</sup> | &nbsp;&nbsp; 11675 | 10853455 |
| Confluent Inc., 0.00% 01/15/27<sup>(d)</sup> | &nbsp;&nbsp; 9375 | 8364853 |
| CSG Systems International Inc., 3.88%, 09/15/28 | &nbsp;&nbsp; 3600 | 3558491 |
| Datadog Inc., 0.13%, 06/15/25 | &nbsp;&nbsp; 6774 | 9402809 |
| Dayforce Inc., 0.25%, 03/15/26 | &nbsp;&nbsp; 4998 | 4732834 |
| DigitalOcean Holdings Inc., 0.00% 12/01/26<sup>(d)</sup> | &nbsp;&nbsp; 13625 | 12091090 |
| Dropbox Inc. |  |  |
| 0.00%, 03/01/26<sup>(d)</sup> | &nbsp;&nbsp; 6190 | 5995823 |
| 0.00%, 03/01/28<sup>(d)</sup> | &nbsp;&nbsp; 6270 | 6067365 |
| Envestnet Inc. |  |  |
| 0.75%, 08/15/25 | &nbsp;&nbsp; 2260 | 2229343 |
| 2.63%, 12/01/27 | &nbsp;&nbsp; 4100 | 4358117 |
| Evolent Health Inc., 3.50%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3675 | 3714790 |
| Fastly Inc., 0.00% 03/15/26<sup>(d)</sup> | &nbsp;&nbsp; 3100 | 2870815 |
| Five9 Inc. |  |  |
| 0.50%, 06/01/25 | &nbsp;&nbsp; 3490 | 3385643 |
| 1.00%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7047 | 5997257 |
| Guidewire Software Inc. |  |  |
| 1.25%, 03/15/25 | &nbsp;&nbsp; 3460 | 5643233 |
| 1.25%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5426 | 5521503 |
| HubSpot Inc., 0.38%, 06/01/25 | &nbsp;&nbsp; 4114 | 8084867 |
| Jamf Holding Corp., 0.13%, 09/01/26 | &nbsp;&nbsp; 2850 | 2584108 |
| LivePerson Inc., 0.00% 12/15/26<sup>(d)</sup> | &nbsp;&nbsp; 2935 | 1310685 |
| MicroStrategy Inc. |  |  |
| 0.00%, 02/15/27<sup>(d)</sup> | &nbsp;&nbsp; 9475 | 17162661 |
| 0.63%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9200 | 14834231 |
| 0.63%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7200 | 13229580 |
| 0.88%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 5400 | 7268811 |
| 2.25%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7250 | 10682890 |
| MongoDB Inc., 0.25%, 01/15/26 | &nbsp;&nbsp; 10308 | 13788779 |
| Nice Ltd., 0.00% 09/15/25<sup>(d)</sup> | &nbsp;&nbsp; 4129 | 3932799 |
| Nutanix Inc., 0.25%, 10/01/27 | &nbsp;&nbsp; 5200 | 6399141 |
| PagerDuty Inc., 1.50%, 10/15/28 | &nbsp;&nbsp; 3350 | 3302977 |
| Porch Group Inc., 6.75%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2600 | 1714227 |
| Progress Software Corp. |  |  |
| 1.00%, 04/15/26 | &nbsp;&nbsp; 3550 | 4243479 |
| 3.50%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 3971 | 4670213 |
| PROS Holdings Inc., 2.25%, 09/15/27 | &nbsp;&nbsp; 2200 | 2047525 |
| RingCentral Inc., 0.00% 03/15/26<sup>(d)</sup> | &nbsp;&nbsp; 5471 | 5049499 |
| Snowflake Inc. |  |  |
| 0.00%, 10/01/27<sup>(a)(d)</sup> | &nbsp;&nbsp; 10428 | 10710880 |
| 0.00%, 10/01/29<sup>(a)(d)</sup> | &nbsp;&nbsp; 10417 | 10633865 |
| Tyler Technologies Inc., 0.25%, 03/15/26 | &nbsp;&nbsp; 5490 | 6961509 |
| Unity Software Inc., 0.00% 11/15/26<sup>(d)</sup> | &nbsp;&nbsp; 10775 | 9607021 |
| Verint Systems Inc., 0.25%, 04/15/26 | &nbsp;&nbsp; 2635 | 2432554 |
| Vertex Inc., 0.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3125 | 4115139 |
| Workiva Inc., 1.25%, 08/15/28 | &nbsp;&nbsp; 6500 | 6141691 |
|  |  | 326850051 |
| **Telecommunications — 0.7%** | **Telecommunications — 0.7%** | **Telecommunications — 0.7%** |
| Infinera Corp., 3.75%, 08/01/28 | &nbsp;&nbsp; 4200 | 5002250 |
| InterDigital Inc., 3.50%, 06/01/27 | &nbsp;&nbsp; 4150 | 8115922 |
| Viavi Solutions Inc., 1.63%, 03/15/26 | &nbsp;&nbsp; 2050 | 2058966 |
|  |  | 15177138 |
| **Transportation — 0.7%** | **Transportation — 0.7%** | **Transportation — 0.7%** |
| Air Transport Services Group Inc., 3.88%, 08/15/29 | &nbsp;&nbsp; 3675 | 3506757 |
| World Kinect Corp., 3.25%, 07/01/28 | &nbsp;&nbsp; 3250 | 3566196 |
| ZTO Express Cayman Inc., 1.50%, 09/01/27 | &nbsp;&nbsp; 9050 | 9356234 |
|  |  | 16429187 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Convertible Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** |
| Greenbrier Companies Inc. (The), 2.88%, 04/15/28 | &nbsp;&nbsp; $3273 | $3930591 |
| **Water — 0.4%** | **Water — 0.4%** | **Water — 0.4%** |
| American Water Capital Corp., 3.63%, 06/15/26 | &nbsp;&nbsp; 9400 | 9490392 |
| **Total Convertible Bonds — 97.6%** <br>**(Cost: $2,237,566,404)** | **Total Convertible Bonds — 97.6%** <br>**(Cost: $2,237,566,404)** | 2202429097 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Gannett Co. Inc.<sup>(c)(e)</sup> | &nbsp;&nbsp; 235000 | 1102150 |
| **Total Common Stocks — 0.1%** <br>**(Cost $1,359,643)** | **Total Common Stocks — 0.1%** <br>**(Cost $1,359,643)** | 1102150 |
| **Total Long-Term Investments — 97.7%** <br>**(Cost: $2,238,926,047)** | **Total Long-Term Investments — 97.7%** <br>**(Cost: $2,238,926,047)** | 2203531247 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.5%** | **Money Market Funds — 1.5%** | **Money Market Funds — 1.5%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 2046643 | 2048076 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 32250000 | $32250000 |
| **Total Short-Term Securities — 1.5%** <br>**(Cost: $34,298,075)** | **Total Short-Term Securities — 1.5%** <br>**(Cost: $34,298,075)** | 34298076 |
| **Total Investments — 99.2%** <br>**(Cost: $2,273,224,122)** | **Total Investments — 99.2%** <br>**(Cost: $2,273,224,122)** | 2237829323 |
| **Other Assets Less Liabilities — 0.8%** | **Other Assets Less Liabilities — 0.8%** | 18005252 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2255834575 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(c)</sup> Non-income producing security.

<sup>(d)</sup> Zero-coupon bond.

<sup>(e)</sup> All or a portion of this security is on loan.

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $1420827<br> $627568 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(261)<br>| $(58)<br>| $2048076 | 2046643 | $3006 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 570000<br> 31680000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 32250000 | 32250000 | 668653 | &nbsp;&nbsp; — |
|  |  |  | $(261)<br>| $(58)<br>| $34298076 |  | $671659 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Convertible Bond ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Convertible Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2202429097 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2202429097 |
| Common Stocks | &nbsp;&nbsp; 1102150 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1102150 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 34298076 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 34298076 |
|  | &nbsp;&nbsp; $35400226 | &nbsp;&nbsp; $2202429097 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2237829323 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** |
| General Electric Co., 5.88%, 05/05/26, <br> (3-mo. CME Term SOFR + 0.642%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $31029 | $31058379 |
| **Auto Manufacturers — 8.3%** | **Auto Manufacturers — 8.3%** | **Auto Manufacturers — 8.3%** |
| American Honda Finance Corp. |  |  |
| 5.34%, 10/10/25, (1-day SOFR + 0.500%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 7910 | 7914522 |
| 5.34%, 01/12/26, (1-day SOFR + 0.500%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 3587 | 3585888 |
| 5.39%, 05/11/26, (1-day SOFR + 0.550%)<sup>(b)</sup> | &nbsp;&nbsp; 20000 | 19994970 |
| 5.55%, 01/09/26, (1-day SOFR + 0.710%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 19450 | 19498444 |
| 5.55%, 07/09/27, (1-day SOFR + 0.710%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 11420 | 11419936 |
| 5.55%, 10/22/27, (1-day SOFR + 0.720%)<sup>(b)</sup> | &nbsp;&nbsp; 10200 | 10201308 |
| 5.64%, 10/03/25, <br> (1-day SOFR Index + 0.790%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11409 | 11433092 |
| 5.72%, 10/05/26, <br> (1-day SOFR Index + 0.720%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10544 | 10565382 |
| 5.72%, 03/12/27, (1-day SOFR + 0.770%)<sup>(b)</sup> | &nbsp;&nbsp; 10600 | 10618556 |
| 5.76%, 01/12/26, (1-day SOFR + 0.920%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 10786 | 10835543 |
| BMW U.S. Capital LLC |  |  |
| 5.41%, 04/02/26, <br> (1-day SOFR Index + 0.550%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 24197 | 24208341 |
| 5.70%, 04/01/25, <br> (1-day SOFR Index + 0.840%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 14837 | 14858805 |
| 5.74%, 08/11/25, <br> (1-day SOFR Index + 0.620%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 25559 | 25595540 |
| 5.92%, 08/13/26, <br> (1-day SOFR Index + 0.800%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13825 | 13873443 |
| 6.04%, 08/13/27, <br> (1-day SOFR Index + 0.920%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10825 | 10870250 |
| Daimler Truck Finance North America LLC |  |  |
| 5.74%, 12/13/24, (1-day SOFR + 0.750%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 13534 | 13539261 |
| 5.83%, 09/25/27, <br> (1-day SOFR + 0.960%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16350 | 16358317 |
| Ford Motor Credit Co. LLC, 6.45%, 11/05/26, <br> (1-day SOFR + 1.450%)<sup>(b)</sup><br>| &nbsp;&nbsp; 12100 | 12112938 |
| General Motors Financial Co. Inc. |  |  |
| 5.89%, 07/15/27, <br> (1-day SOFR Index + 1.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 17240 | 17222633 |
| 6.11%, 02/26/27, (1-day SOFR + 1.040%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 12847 | 12855761 |
| 6.14%, 04/07/25, <br> (1-day SOFR Index + 1.300%)<sup>(b)</sup><br>| &nbsp;&nbsp; 7553 | 7573288 |
| 6.48%, 05/08/27, <br> (1-day SOFR Index + 1.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 16607 | 16703417 |
| Hyundai Capital America |  |  |
| 5.89%, 09/24/27, (1-day SOFR + 1.030%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 13650 | 13660293 |
| 5.90%, 06/24/27, (1-day SOFR + 1.040%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 17130 | 17151676 |
| 5.92%, 03/19/27, <br> (1-day SOFR + 1.040%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 11000 | 11016035 |
| 6.30%, 08/04/25, <br> (1-day SOFR + 1.150%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 4650 | 4665956 |
| 6.34%, 01/08/27, <br> (1-day SOFR + 1.500%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15245 | 15421248 |
| 6.47%, 11/03/25, (1-day SOFR + 1.320%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 10690 | 10746817 |
| Mercedes-Benz Finance North America LLC |  |  |
| 5.51%, 01/09/26, <br> (1-day SOFR + 0.670%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 25830 | 25898642 |
| 5.75%, 08/01/25, <br> (1-day SOFR + 0.570%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 18874 | 18881529 |
| 5.79%, 03/30/25, <br> (1-day SOFR + 0.930%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15620 | 15641893 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 5.81%, 07/31/26, <br> (1-day SOFR + 0.630%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; $16000 | $16010894 |
| Nissan Motor Acceptance Co. LLC, 6.99%, <br> 09/13/27, (1-day SOFR Index + 2.050%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10325 | 10324979 |
| Toyota Motor Credit Corp. |  |  |
| 5.16%, 01/13/25, (1-day SOFR + 0.320%)<sup>(b)</sup> | &nbsp;&nbsp; 12255 | 12254809 |
| 5.40%, 01/10/25, (1-day SOFR + 0.560%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 7856 | 7854181 |
| 5.49%, 01/05/26, (1-day SOFR + 0.650%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 15600 | 15643348 |
| 5.53%, 03/19/27, (1-day SOFR + 0.650%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 15705 | 15741379 |
| 5.56%, 05/15/26, (1-day SOFR + 0.450%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 19700 | 19700592 |
| 5.61%, 09/11/25, (1-day SOFR + 0.650%)<sup>(b)</sup> | &nbsp;&nbsp; 12340 | 12358618 |
| 5.90%, 08/07/26, (1-day SOFR + 0.770%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 10950 | 11010332 |
| 5.99%, 05/18/26, <br> (1-day SOFR Index + 0.890%)<sup>(b)</sup><br>| &nbsp;&nbsp; 10159 | 10226027 |
| Volkswagen Group of America Finance LLC |  |  |
| 5.70%, 03/20/26, <br> (1-day SOFR + 0.830%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 5600 | 5604799 |
| 5.88%, 09/12/25, <br> (1-day SOFR + 0.930%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 19600 | 19642733 |
| 6.17%, 08/14/26, <br> (1-day SOFR + 1.060%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 18000 | 18040506 |
|  |  | 609336921 |
| **Banks — 47.3%** | **Banks — 47.3%** | **Banks — 47.3%** |
| ABN AMRO Bank NV, 6.67%, 09/18/27, <br> (1-day SOFR Index + 1.780%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 20400 | 20770898 |
| ANZ New Zealand International Ltd./London, <br> 5.70%, 02/18/25, (1-day SOFR + 0.600%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 17286 | 17302661 |
| Australia & New Zealand Banking Group Ltd. |  |  |
| 5.45%, 03/18/26, <br> (1-day SOFR + 0.560%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15365 | 15391197 |
| 5.49%, 10/03/25, <br> (1-day SOFR + 0.640%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 26265 | 26308673 |
| 5.51%, 09/30/27, <br> (1-day SOFR + 0.650%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 21540 | 21565977 |
| 5.52%, 07/16/27, <br> (1-day SOFR + 0.680%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 19700 | 19752762 |
| 5.60%, 07/03/25, (1-day SOFR + 0.750%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 21120 | 21183143 |
| 5.65%, 01/18/27, <br> (1-day SOFR + 0.810%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 21350 | 21461998 |
| Banco Santander SA |  |  |
| 5.96%, 07/15/28, (1-day SOFR + 1.120%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 18945 | 18977385 |
| 6.35%, 03/14/28, (1-day SOFR + 1.380%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13617 | 13710246 |
| Bank of America Corp. |  |  |
| 5.80%, 07/22/27, (1-day SOFR + 0.970%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 17943 | 18018201 |
| 5.97%, 09/15/26, <br> (3-mo. CME Term SOFR + 1.022%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14254 | 14289252 |
| 6.17%, 04/02/26, (1-day SOFR + 1.330%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13119 | 13159228 |
| 6.20%, 02/04/28, (1-day SOFR + 1.050%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 19175 | 19277697 |
| 6.24%, 09/15/27, (1-day SOFR + 1.350%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 4129 | 4174070 |
| 6.27%, 02/05/26, <br> (3-mo. CME Term SOFR + 1.032%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 54611 | 54698212 |
| Bank of America NA |  |  |
| 5.86%, 08/18/25, (1-day SOFR + 0.780%)<sup>(b)</sup> | &nbsp;&nbsp; 17435 | 17488176 |
| 6.12%, 08/18/26, (1-day SOFR + 1.020%)<sup>(b)</sup> | &nbsp;&nbsp; 25990 | 26197023 |
| Bank of Montreal |  |  |
| 5.30%, 01/10/25, <br> (1-day SOFR Index + 0.465%)<sup>(b)</sup><br>| &nbsp;&nbsp; 7437 | 7439864 |
| 5.55%, 09/15/26, <br> (1-day SOFR Index + 0.620%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10893 | 10888071 |
| 5.66%, 12/12/24, <br> (1-day SOFR Index + 0.710%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11338 | 11344094 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.79%, 06/04/27, <br> (1-day SOFR Index + 0.760%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $12500 | $12499887 |
| 5.81%, 09/25/25, <br> (1-day SOFR Index + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11680 | 11736864 |
| 5.86%, 09/10/27, <br> (1-day SOFR Index + 0.880%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8250 | 8265643 |
| 6.05%, 06/07/25, <br> (1-day SOFR Index + 1.060%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7487 | 7514936 |
| 6.12%, 12/11/26, <br> (1-day SOFR Index + 1.160%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9295 | 9387464 |
| 6.33%, 06/05/26, <br> (1-day SOFR Index + 1.330%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 17763 | 17966579 |
| Bank of New York Mellon (The), 5.39%, 03/13/26, <br> (1-day SOFR + 0.450%)<sup>(b)</sup><br>| &nbsp;&nbsp; 4855 | 4856208 |
| Bank of New York Mellon Corp. (The) |  |  |
| 5.45%, 04/25/25, (1-day SOFR + 0.620%)<sup>(b)</sup> | &nbsp;&nbsp; 15923 | 15932254 |
| 5.67%, 07/21/28, <br> (1-day SOFR Index + 0.830%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13410 | 13434605 |
| Bank of New Zealand, 5.64%, 01/27/27, <br> (1-day SOFR + 0.810%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13535 | 13523454 |
| Bank of Nova Scotia (The) |  |  |
| 5.30%, 01/10/25, (1-day SOFR + 0.460%)<sup>(b)</sup> | &nbsp;&nbsp; 10759 | 10762693 |
| 5.54%, 09/15/26, (1-day SOFR + 0.610%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 7163 | 7157262 |
| 5.58%, 03/02/26, <br> (1-day SOFR Index + 0.545%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12149 | 12144201 |
| 5.74%, 04/11/25, <br> (1-day SOFR Index + 0.900%)<sup>(b)</sup><br>| &nbsp;&nbsp; 16807 | 16848312 |
| 5.81%, 06/04/27, <br> (1-day SOFR Index + 0.780%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15020 | 15018489 |
| 5.96%, 09/08/28, (1-day SOFR + 1.000%)<sup>(b)</sup> | &nbsp;&nbsp; 4410 | 4414996 |
| 6.04%, 06/12/25, <br> (1-day SOFR Index + 1.090%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 19400 | 19480381 |
| 6.34%, 08/01/29, <br> (1-day SOFR Index + 1.080%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15010 | 15032641 |
| Banque Federative du Credit Mutuel SA |  |  |
| 5.56%, 02/04/25, <br> (1-day SOFR Index + 0.410%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 26221 | 26223976 |
| 5.96%, 01/23/27, <br> (1-day SOFR + 1.130%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15690 | 15820664 |
| 6.17%, 02/16/28, <br> (1-day SOFR Index + 1.070%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 11805 | 11843219 |
| 6.24%, 07/13/26, <br> (1-day SOFR Index + 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 16500 | 16698082 |
| Barclays PLC |  |  |
| 6.44%, 03/12/28, (1-day SOFR + 1.490%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 14635 | 14788058 |
| 6.82%, 09/13/27, (1-day SOFR + 1.880%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13925 | 14167019 |
| BPCE SA |  |  |
| 5.41%, 01/14/25, <br> (1-day SOFR + 0.570%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 7997 | 8001872 |
| 5.83%, 09/25/25, <br> (1-day SOFR + 0.960%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15335 | 15373352 |
| 6.82%, 10/19/27, <br> (1-day SOFR Index + 1.980%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10831 | 11025721 |
| Canadian Imperial Bank of Commerce |  |  |
| 5.78%, 04/07/25, <br> (1-day SOFR Index + 0.940%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 17493 | 17540457 |
| 5.80%, 06/28/27, (1-day SOFR + 0.940%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13400 | 13451704 |
| 5.89%, 09/11/27, <br> (1-day SOFR Index + 0.930%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 17400 | 17438041 |
| 6.08%, 10/02/26, (1-day SOFR + 1.220%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 21775 | 21992366 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Citibank NA |  |  |
| 5.41%, 04/30/26, <br> (1-day SOFR Index + 0.590%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $21245 | $21259164 |
| 5.66%, 09/29/25, (1-day SOFR + 0.805%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 31450 | 31561575 |
| 5.85%, 08/06/26, (1-day SOFR + 0.708%)<sup>(b)</sup> | &nbsp;&nbsp; 20290 | 20344300 |
| 6.09%, 12/04/26, <br> (1-day SOFR Index + 1.060%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 23810 | 24017689 |
| Citigroup Inc. |  |  |
| 5.52%, 01/25/26, (1-day SOFR + 0.694%)<sup>(b)</sup> | &nbsp;&nbsp; 20104 | 20113556 |
| 5.76%, 06/09/27, (1-day SOFR + 0.770%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 19050 | 19056320 |
| 6.11%, 07/01/26, <br> (3-mo. CME Term SOFR + 1.512%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 18063 | 18165762 |
| 6.32%, 02/24/28, (1-day SOFR + 1.280%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 19151 | 19318511 |
| 6.41%, 03/17/26, (1-day SOFR + 1.528%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 18736 | 18807135 |
| Commonwealth Bank of Australia |  |  |
| 5.24%, 07/07/25, <br> (1-day SOFR + 0.400%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 48665 | 48668970 |
| 5.45%, 06/15/26, <br> (1-day SOFR + 0.520%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 17156 | 17154619 |
| 5.58%, 09/12/25, <br> (1-day SOFR + 0.630%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 22506 | 22549640 |
| 5.67%, 03/14/25, (1-day SOFR + 0.740%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 44751 | 44815378 |
| 5.69%, 03/13/26, <br> (1-day SOFR + 0.750%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 12190 | 12262454 |
| 5.90%, 03/14/27, <br> (1-day SOFR + 0.970%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 6925 | 6985932 |
| Cooperatieve Rabobank UA/New York |  |  |
| 5.22%, 01/10/25, <br> (1-day SOFR Index + 0.380%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12335 | 12335567 |
| 5.54%, 07/18/25, <br> (1-day SOFR Index + 0.700%)<sup>(b)</sup><br>| &nbsp;&nbsp; 22442 | 22501661 |
| 5.55%, 01/09/26, <br> (1-day SOFR Index + 0.710%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14250 | 14301742 |
| 5.71%, 03/05/27, <br> (1-day SOFR Index + 0.710%)<sup>(b)</sup><br>| &nbsp;&nbsp; 25620 | 25682288 |
| 5.74%, 10/05/26, <br> (1-day SOFR Index + 0.900%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 20050 | 20150583 |
| Cooperatieve Rabobank UA/NY |  |  |
| 5.67%, 08/28/26, <br> (1-day SOFR Index + 0.620%)<sup>(b)</sup><br>| &nbsp;&nbsp; 10750 | 10765742 |
| 5.73%, 10/17/29, <br> (1-day SOFR Index + 0.890%)<sup>(b)</sup><br>| &nbsp;&nbsp; 10250 | 10244211 |
| Credit Agricole SA |  |  |
| 5.83%, 03/11/27, (1-day SOFR + 0.870%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 15170 | 15212552 |
| 6.13%, 07/05/26, <br> (1-day SOFR + 1.290%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 17295 | 17486653 |
| 6.17%, 09/11/28, (1-day SOFR + 1.210%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 12600 | 12688844 |
| DBS Group Holdings Ltd. |  |  |
| 5.41%, 11/22/24, <br> (1-day SOFR Index + 0.300%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 3285 | 3284879 |
| 5.61%, 09/12/25, (1-day SOFR + 0.610%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 425 | 425677 |
| Deutsche Bank AG/New York, 6.32%, 11/16/27, <br> (1-day SOFR + 1.219%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8629 | 8615474 |
| Goldman Sachs Bank USA/New York |  |  |
| 5.66%, 03/18/27, (1-day SOFR + 0.770%)<sup>(b)</sup> | &nbsp;&nbsp; 7441 | 7452772 |
| 5.83%, 05/21/27, (1-day SOFR + 0.750%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 12770 | 12779336 |
| Goldman Sachs Group Inc. (The) |  |  |
| 5.76%, 10/21/27, (1-day SOFR + 0.920%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 17705 | 17733945 |
| 5.78%, 12/09/26, (1-day SOFR + 0.790%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 10579 | 10582689 |
| 5.80%, 03/09/27, (1-day SOFR + 0.810%)<sup>(b)</sup> | &nbsp;&nbsp; 18111 | 18121404 |
| 5.80%, 09/10/27, (1-day SOFR + 0.820%)<sup>(b)</sup> | &nbsp;&nbsp; 13420 | 13423172 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 6.19%, 08/10/26, (1-day SOFR + 1.065%)<sup>(b)</sup> | &nbsp;&nbsp; $20500 | $20540255 |
| 6.19%, 02/24/28, (1-day SOFR + 1.120%)<sup>(b)</sup> | &nbsp;&nbsp; 15405 | 15472687 |
| 6.63%, 10/28/27, <br> (3-mo. CME Term SOFR + 2.012%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 35392 | 36237616 |
| 6.78%, 03/15/28, (1-day SOFR + 1.850%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13775 | 14070636 |
| Series ., 6.55%, 05/15/26, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(b)</sup><br>| &nbsp;&nbsp; 48868 | 49099320 |
| HSBC Holdings PLC |  |  |
| 6.45%, 03/10/26, (1-day SOFR + 1.430%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 15670 | 15709668 |
| 6.59%, 09/12/26, <br> (3-mo. CME Term SOFR + 1.642%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 28758 | 29005957 |
| 6.71%, 08/14/27, (1-day SOFR + 1.570%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 26395 | 26758131 |
| HSBC USA Inc., 5.99%, 03/04/27, <br> (1-day SOFR + 0.960%)<sup>(b)</sup><br>| &nbsp;&nbsp; 22970 | 23090483 |
| ING Groep NV |  |  |
| 5.87%, 04/01/27, <br> (1-day SOFR Index + 1.010%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 16615 | 16683947 |
| 6.50%, 03/28/26, <br> (1-day SOFR Index + 1.640%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13554 | 13618182 |
| 6.52%, 09/11/27, <br> (1-day SOFR Index + 1.560%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 21560 | 21839182 |
| JPMorgan Chase & Co. |  |  |
| 5.58%, 12/10/25, (1-day SOFR + 0.600%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 16522 | 16529108 |
| 5.62%, 09/22/27, (1-day SOFR + 0.765%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 16123 | 16160529 |
| 5.69%, 10/22/28, (1-day SOFR + 0.860%)<sup>(b)</sup> | &nbsp;&nbsp; 10200 | 10217691 |
| 5.72%, 04/22/27, (1-day SOFR + 0.885%)<sup>(b)</sup> | &nbsp;&nbsp; 22378 | 22451144 |
| 5.75%, 04/22/28, (1-day SOFR + 0.920%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 25205 | 25284659 |
| 5.76%, 07/22/28, (1-day SOFR + 0.930%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 15550 | 15623333 |
| 5.99%, 02/24/26, (1-day SOFR + 0.920%)<sup>(b)</sup> | &nbsp;&nbsp; 22616 | 22654227 |
| 6.03%, 01/23/28, (1-day SOFR + 1.200%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 22644 | 22858333 |
| 6.15%, 04/26/26, (1-day SOFR + 1.320%)<sup>(b)</sup> | &nbsp;&nbsp; 20980 | 21076048 |
| 6.25%, 02/24/28, (1-day SOFR + 1.180%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 20510 | 20704168 |
| JPMorgan Chase Bank NA, 5.99%, 12/08/26, <br> (1-day SOFR + 1.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 32226 | 32579997 |
| Lloyds Banking Group PLC |  |  |
| 6.44%, 01/05/28, <br> (1-day SOFR Index + 1.580%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15910 | 16120286 |
| 6.72%, 08/07/27, <br> (1-day SOFR Index + 1.560%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 18650 | 18889196 |
| Macquarie Bank Ltd. |  |  |
| 5.78%, 07/02/27, <br> (1-day SOFR Index + 0.920%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13650 | 13728749 |
| 6.17%, 03/21/25, (1-day SOFR + 1.310%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 19685 | 19763146 |
| 6.17%, 06/15/26, <br> (1-day SOFR + 1.240%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 14259 | 14389993 |
| 6.20%, 12/07/26, <br> (1-day SOFR + 1.200%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 17900 | 18103707 |
| Macquarie Group Ltd., 5.78%, 09/23/27, <br> (1-day SOFR + 0.920%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15980 | 16029052 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 6.06%, 02/20/26, (1-day SOFR + 0.940%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 15491 | 15514740 |
| 6.27%, 04/17/26, (1-day SOFR + 1.440%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13420 | 13472140 |
| Mizuho Financial Group Inc., 6.07%, 05/22/26, <br> (1-day SOFR + 0.960%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15770 | 15803021 |
| Morgan Stanley |  |  |
| 5.86%, 04/13/28, (1-day SOFR + 1.020%)<sup>(b)</sup> | &nbsp;&nbsp; 30249 | 30386559 |
| 6.03%, 02/18/26, (1-day SOFR + 0.950%)<sup>(b)</sup> | &nbsp;&nbsp; 30921 | 30965837 |
| Morgan Stanley Bank NA |  |  |
| 5.52%, 10/15/27, (1-day SOFR + 0.685%)<sup>(b)</sup> | &nbsp;&nbsp; 10250 | 10256972 |
| 5.62%, 07/16/25, (1-day SOFR + 0.780%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 29445 | 29527450 |
| 5.78%, 07/14/28, (1-day SOFR + 0.940%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 23500 | 23582879 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.92%, 01/14/28, (1-day SOFR + 1.080%)<sup>(b)</sup> | &nbsp;&nbsp; $23715 | $23885836 |
| 5.93%, 05/26/28, (1-day SOFR + 0.865%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 23800 | 23839706 |
| 5.99%, 10/30/26, (1-day SOFR + 1.165%)<sup>(b)</sup> | &nbsp;&nbsp; 16000 | 16188240 |
| National Australia Bank Ltd. |  |  |
| 5.22%, 01/12/25, <br> (1-day SOFR + 0.380%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 36420 | 36404993 |
| 5.38%, 01/29/26, <br> (1-day SOFR + 0.550%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10725 | 10729150 |
| 5.49%, 01/12/27, <br> (1-day SOFR + 0.650%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 17535 | 17565425 |
| 5.58%, 06/11/27, (1-day SOFR + 0.620%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 22650 | 22657336 |
| 5.63%, 12/10/25, (1-day SOFR + 0.650%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 15217 | 15250754 |
| 5.88%, 05/13/25, (1-day SOFR + 0.760%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 25770 | 25821266 |
| National Australia Bank Ltd./New York, 5.85%, <br> 06/09/25, (1-day SOFR + 0.860%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16425 | 16472728 |
| National Bank of Canada, 5.89%, 07/02/27, <br> (1-day SOFR Index + 1.030%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11000 | 11042269 |
| NatWest Group PLC |  |  |
| 6.32%, 03/01/28, (1-day SOFR + 1.250%)<sup>(b)</sup> | &nbsp;&nbsp; 14695 | 14773829 |
| 6.41%, 11/15/28, (1-day SOFR + 1.300%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 10800 | 10872201 |
| NatWest Markets PLC |  |  |
| 5.62%, 09/29/26, <br> (1-day SOFR + 0.760%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 12084 | 12079158 |
| 6.00%, 05/17/27, <br> (1-day SOFR + 0.900%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 7302 | 7314452 |
| 6.24%, 05/17/29, <br> (1-day SOFR + 1.140%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16250 | 16315214 |
| 6.31%, 03/22/25, <br> (1-day SOFR + 1.450%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 17324 | 17393964 |
| Nordea Bank Abp |  |  |
| 5.62%, 03/19/27, <br> (1-day SOFR + 0.740%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10350 | 10403752 |
| 5.96%, 06/06/25, <br> (1-day SOFR + 0.960%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10315 | 10351710 |
| 6.00%, 09/10/29, (1-day SOFR + 1.020%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 17290 | 17343588 |
| Royal Bank of Canada |  |  |
| 5.28%, 01/21/25, <br> (1-day SOFR Index + 0.440%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 16655 | 16662766 |
| 5.36%, 01/20/26, <br> (1-day SOFR Index + 0.525%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12945 | 12948503 |
| 5.40%, 04/27/26, <br> (1-day SOFR Index + 0.570%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 17379 | 17383267 |
| 5.55%, 01/21/27, <br> (1-day SOFR Index + 0.710%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9997 | 10005380 |
| 5.56%, 10/18/27, <br> (1-day SOFR Index + 0.720%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10200 | 10208890 |
| 5.63%, 07/23/27, (1-day SOFR + 0.790%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13150 | 13184874 |
| 5.68%, 04/14/25, <br> (1-day SOFR Index + 0.840%)<sup>(b)</sup><br>| &nbsp;&nbsp; 2235 | 2239384 |
| 5.70%, 10/18/28, <br> (1-day SOFR Index + 0.860%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10200 | 10210020 |
| 5.74%, 11/02/26, <br> (1-day SOFR Index + 0.590%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13900 | 13883225 |
| 5.79%, 01/19/27, <br> (1-day SOFR Index + 0.950%)<sup>(b)</sup><br>| &nbsp;&nbsp; 16987 | 17095430 |
| 5.92%, 01/12/26, <br> (1-day SOFR Index + 1.080%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4796 | 4828431 |
| 5.92%, 07/20/26, <br> (1-day SOFR Index + 1.080%)<sup>(b)</sup><br>| &nbsp;&nbsp; 16700 | 16839424 |
| Shinhan Bank Co. Ltd., 6.60%, 04/24/25, <br> (3-mo. CME Term SOFR + 1.962%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 16490 | 16593559 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Skandinaviska Enskilda Banken AB |  |  |
| 5.89%, 03/05/27, <br> (1-day SOFR + 0.890%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; $16210 | $16285199 |
| 5.95%, 06/09/25, <br> (1-day SOFR + 0.960%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16775 | 16835599 |
| Societe Generale SA |  |  |
| 5.89%, 01/21/26, <br> (1-day SOFR + 1.050%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 28937 | 28956554 |
| 6.50%, 01/19/28, <br> (1-day SOFR + 1.660%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13905 | 14012959 |
| Standard Chartered PLC |  |  |
| 6.00%, 11/23/25, (1-day SOFR + 0.930%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 16744 | 16746615 |
| 6.28%, 05/14/28, <br> (1-day SOFR + 1.170%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 18345 | 18421896 |
| 6.60%, 03/30/26, <br> (1-day SOFR + 1.740%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 19015 | 19092249 |
| 6.77%, 07/06/27, (1-day SOFR + 1.930%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 18690 | 18999166 |
| 7.16%, 02/08/28, <br> (1-day SOFR + 2.030%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16175 | 16531990 |
| State Street Corp. |  |  |
| 5.47%, 10/22/27, (1-day SOFR + 0.640%)<sup>(b)</sup> | &nbsp;&nbsp; 10200 | 10237883 |
| 5.99%, 08/03/26, (1-day SOFR + 0.845%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13882 | 13974132 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 5.72%, 01/14/27, (1-day SOFR + 0.880%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 17895 | 18000195 |
| 6.01%, 07/09/29, (1-day SOFR + 1.170%)<sup>(b)</sup> | &nbsp;&nbsp; 22520 | 22739845 |
| 6.14%, 07/13/26, (1-day SOFR + 1.300%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 8800 | 8913597 |
| 6.27%, 01/13/26, (1-day SOFR + 1.430%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 8475 | 8575745 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| 5.96%, 09/10/27, <br> (1-day SOFR + 0.980%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13400 | 13497339 |
| 6.11%, 09/14/26, (1-day SOFR + 1.150%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 17305 | 17478137 |
| 6.16%, 03/09/26, (1-day SOFR + 1.120%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 18865 | 18997276 |
| Svenska Handelsbanken AB |  |  |
| 5.71%, 05/28/27, <br> (1-day SOFR + 0.660%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 17770 | 17808584 |
| 5.93%, 06/10/25, <br> (1-day SOFR + 0.910%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15385 | 15426674 |
| 6.18%, 06/15/26, (1-day SOFR + 1.250%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 17475 | 17688138 |
| Swedbank AB |  |  |
| 5.75%, 04/04/25, <br> (1-day SOFR Index + 0.910%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 11045 | 11065605 |
| 6.31%, 06/15/26, <br> (1-day SOFR Index + 1.380%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16800 | 17020763 |
| Toronto-Dominion Bank (The) |  |  |
| 5.25%, 01/10/25, (1-day SOFR + 0.410%)<sup>(b)</sup> | &nbsp;&nbsp; 11165 | 11167876 |
| 5.32%, 10/10/25, (1-day SOFR + 0.480%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 500 | 500232 |
| 5.57%, 09/10/26, (1-day SOFR + 0.590%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 11842 | 11829246 |
| 5.57%, 04/05/27, (1-day SOFR + 0.730%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 16850 | 16851018 |
| 5.92%, 07/17/26, (1-day SOFR + 1.080%)<sup>(b)</sup> | &nbsp;&nbsp; 15018 | 15138728 |
| 6.02%, 06/06/25, (1-day SOFR + 1.020%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 15857 | 15903621 |
| UBS AG, 5.89%, 09/11/25, <br> (1-day SOFR + 0.930%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 20300 | 20390790 |
| UBS AG/London, 5.31%, 01/13/25, <br> (1-day SOFR + 0.470%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 11627 | 11629179 |
| UBS AG/Stamford CT, 6.34%, 02/21/25, <br> (1-day SOFR Index + 1.260%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11610 | 11634632 |
| UBS Group AG, 6.70%, 05/12/26, <br> (1-day SOFR + 1.580%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 21585 | 21695209 |
| United Overseas Bank Ltd., 5.56%, 04/07/25, <br> (1-day SOFR Index + 0.700%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 2215 | 2216993 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Wells Fargo & Co. |  |  |
| 5.90%, 04/22/28, (1-day SOFR + 1.070%)<sup>(b)</sup> | &nbsp;&nbsp; $31060 | $31208239 |
| 6.15%, 04/25/26, (1-day SOFR + 1.320%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 22541 | 22641592 |
| Wells Fargo Bank NA |  |  |
| 5.55%, 01/15/26, (1-day SOFR + 0.710%)<sup>(b)</sup> | &nbsp;&nbsp; 24215 | 24298480 |
| 5.95%, 08/01/25, (1-day SOFR + 0.800%)<sup>(b)</sup> | &nbsp;&nbsp; 16996 | 17054185 |
| 6.03%, 12/11/26, (1-day SOFR + 1.070%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 20776 | 20993032 |
| 6.19%, 08/07/26, (1-day SOFR + 1.060%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 19520 | 19692194 |
| Westpac Banking Corp. |  |  |
| 5.26%, 04/16/26, (1-day SOFR + 0.420%)<sup>(b)</sup> | &nbsp;&nbsp; 8300 | 8298161 |
| 5.38%, 01/29/26, <br> (1-day SOFR + 0.550%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 5700 | 5707277 |
| 5.40%, 11/18/24, (1-day SOFR + 0.300%)<sup>(b)</sup> | &nbsp;&nbsp; 12043 | 12041712 |
| 5.55%, 06/03/26, (1-day SOFR + 0.520%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 11380 | 11392662 |
| 5.65%, 04/16/29, (1-day SOFR + 0.810%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 28525 | 28604266 |
| 5.82%, 11/17/25, (1-day SOFR + 0.720%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 18715 | 18773092 |
| 6.06%, 08/26/25, (1-day SOFR + 1.000%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 21328 | 21452641 |
|  |  | 3464619373 |
| **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
| Keurig Dr Pepper Inc., 5.81%, 03/15/27, <br> (1-day SOFR Index + 0.880%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15310 | 15438911 |
| PepsiCo Inc., 5.52%, 02/13/26, <br> (1-day SOFR Index + 0.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12371 | 12394152 |
| Pepsico Singapore Financing I Pte Ltd., 5.66%, <br> 02/16/27, (1-day SOFR Index + 0.560%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 21065 | 21087674 |
|  |  | 48920737 |
| **Diversified Financial Services — 2.2%** | **Diversified Financial Services — 2.2%** | **Diversified Financial Services — 2.2%** |
| American Express Co. |  |  |
| 5.58%, 04/23/27, (1-day SOFR + 0.750%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 15860 | 15874976 |
| 5.76%, 07/26/28, (1-day SOFR + 0.930%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 16300 | 16370186 |
| 5.80%, 11/04/26, <br> (1-day SOFR Index + 0.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 18323 | 18320627 |
| 5.80%, 07/28/27, <br> (1-day SOFR Index + 0.970%)<sup>(b)</sup><br>| &nbsp;&nbsp; 18885 | 18932010 |
| 5.88%, 02/13/26, (1-day SOFR + 0.760%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 14707 | 14755632 |
| 5.96%, 03/04/25, <br> (1-day SOFR Index + 0.930%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11672 | 11686241 |
| 6.10%, 02/16/28, <br> (1-day SOFR Index + 1.000%)<sup>(b)</sup><br>| &nbsp;&nbsp; 12011 | 12068692 |
| 6.17%, 10/30/26, <br> (1-day SOFR Index + 1.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12975 | 13062343 |
| Charles Schwab Corp. (The) |  |  |
| 5.64%, 05/13/26, <br> (1-day SOFR Index + 0.520%)<sup>(b)</sup><br>| &nbsp;&nbsp; 15292 | 15290182 |
| 6.08%, 03/03/27, <br> (1-day SOFR Index + 1.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13180 | 13256548 |
| Nomura Holdings Inc., 6.11%, 07/02/27, <br> (1-day SOFR + 1.250%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14592 | 14689027 |
|  |  | 164306464 |
| **Electric — 0.9%** | **Electric — 0.9%** | **Electric — 0.9%** |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 5.75%, 09/16/27, (1-day SOFR + 0.820%)<sup>(b)</sup> | &nbsp;&nbsp; 10385 | 10428632 |
| 5.95%, 02/05/27, (1-day SOFR + 0.800%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 12865 | 12928760 |
| NextEra Energy Capital Holdings Inc., 5.59%, <br> 01/29/26, (1-day SOFR Index + 0.760%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 25605 | 25683753 |
| Pinnacle West Capital Corp., 5.80%, 06/10/26, <br> (1-day SOFR + 0.820%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15000 | 15055666 |
|  |  | 64096811 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services — 0.7%** | **Health Care - Services — 0.7%** | **Health Care - Services — 0.7%** |
| Roche Holdings Inc. |  |  |
| 5.54%, 03/10/25, <br> (1-day SOFR + 0.560%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; $28126 | $28148098 |
| 5.86%, 11/13/26, (1-day SOFR + 0.740%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 12200 | 12285575 |
| UnitedHealth Group Inc., 5.34%, 07/15/26, <br> (1-day SOFR + 0.500%)<sup>(b)</sup><br>| &nbsp;&nbsp; 11230 | 11251301 |
|  |  | 51684974 |
| **Insurance — 6.9%** | **Insurance — 6.9%** | **Insurance — 6.9%** |
| Athene Global Funding |  |  |
| 5.55%, 01/07/25, <br> (1-day SOFR Index + 0.715%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 8915 | 8917021 |
| 5.98%, 05/08/26, <br> (1-day SOFR Index + 0.850%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 11075 | 11063774 |
| 6.07%, 03/25/27, <br> (1-day SOFR Index + 1.210%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13400 | 13456560 |
| 6.09%, 08/27/26, <br> (1-day SOFR Index + 1.030%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10675 | 10687173 |
| Corebridge Global Funding, 6.16%, 09/25/26, <br> (1-day SOFR + 1.300%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16375 | 16561430 |
| GA Global Funding Trust, 6.20%, 04/11/25, <br> (1-day SOFR + 1.360%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 8960 | 8990534 |
| Marsh & McLennan Companies Inc., 1.00%, <br> 11/08/27, (1-day SOFR Index + 0.700%)<sup>(b)</sup><br>| &nbsp;&nbsp; 10200 | 10251977 |
| MassMutual Global Funding II |  |  |
| 5.58%, 04/09/27, (1-day SOFR + 0.740%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 16040 | 16082444 |
| 5.60%, 01/29/27, <br> (1-day SOFR + 0.770%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 21884 | 21963965 |
| 5.73%, 03/21/25, <br> (1-day SOFR + 0.870%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 3530 | 3537689 |
| 5.82%, 07/10/26, <br> (1-day SOFR + 0.980%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16442 | 16587404 |
| Metropolitan Life Global Funding I |  |  |
| 5.41%, 04/09/26, <br> (1-day SOFR Index + 0.570%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15640 | 15652305 |
| 5.66%, 06/11/27, <br> (1-day SOFR Index + 0.700%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15150 | 15190508 |
| 5.77%, 03/21/25, <br> (1-day SOFR Index + 0.910%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13234 | 13265295 |
| New York Life Global Funding |  |  |
| 5.17%, 01/14/25, <br> (1-day SOFR Index + 0.330%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 14105 | 14109262 |
| 5.42%, 01/16/26, <br> (1-day SOFR Index + 0.580%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 22725 | 22791481 |
| 5.45%, 04/21/25, <br> (1-day SOFR Index + 0.610%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 18250 | 18274905 |
| 5.47%, 06/09/26, (1-day SOFR + 0.480%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 15410 | 15429209 |
| 5.53%, 04/02/27, (1-day SOFR +0.670%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 15050 | 15064314 |
| 5.62%, 08/28/26, <br> (1-day SOFR + 0.580%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 12675 | 12696786 |
| 5.64%, 06/13/25, <br> (1-day SOFR + 0.700%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 19225 | 19262483 |
| 5.79%, 04/02/26, <br> (1-day SOFR Index + 0.930%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10870 | 10943936 |
| 5.80%, 05/02/25, (1-day SOFR + 0.650%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 19675 | 19700295 |
| Northwestern Mutual Global Funding, 5.64%, <br> 06/13/25, (1-day SOFR + 0.700%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 15900 | 15941302 |
| Pacific Life Global Funding II |  |  |
| 5.23%, 01/27/25, <br> (1-day SOFR + 0.400%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 4690 | 4692755 |
| 5.46%, 03/27/26, (1-day SOFR +0.600%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 11835 | 11838672 |
| 5.65%, 06/04/26, (1-day SOFR + 0.620%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 11395 | 11399802 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| 5.66%, 03/30/25, <br> (1-day SOFR Index + 0.800%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; $14950 | $14971936 |
| 5.79%, 06/16/25, <br> (1-day SOFR Index + 0.860%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 9994 | 10026103 |
| 5.80%, 12/06/24, (1-day SOFR + 0.800%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 8443 | 8447303 |
| 5.88%, 07/28/26, <br> (1-day SOFR Index + 1.050%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 20217 | 20363786 |
| 6.00%, 02/05/27, (1-day SOFR + 0.850%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 20615 | 20720006 |
| Principal Life Global Funding II, 5.95%, 08/28/25, <br> (1-day SOFR + 0.900%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16763 | 16840421 |
| Protective Life Global Funding |  |  |
| 5.54%, 04/10/26, <br> (1-day SOFR + 0.700%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10045 | 10065816 |
| 5.84%, 03/28/25, <br> (1-day SOFR + 0.980%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 16682 | 16727311 |
| 6.00%, 12/11/24, (1-day SOFR + 1.050%)<sup>(b)(c)</sup> | &nbsp;&nbsp; 15425 | 15433423 |
|  |  | 507949386 |
| **Machinery — 2.7%** | **Machinery — 2.7%** | **Machinery — 2.7%** |
| Caterpillar Financial Services Corp. |  |  |
| 5.46%, 06/13/25, (1-day SOFR + 0.520%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13660 | 13681436 |
| 5.52%, 02/27/26, (1-day SOFR + 0.460%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 23009 | 23031348 |
| 5.53%, 10/16/26, (1-day SOFR + 0.690%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 10700 | 10756240 |
| 5.58%, 08/11/25, (1-day SOFR + 0.455%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 14293 | 14309879 |
| 5.63%, 05/14/27, (1-day SOFR + 0.520%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 13344 | 13356414 |
| John Deere Capital Corp. |  |  |
| 5.32%, 10/22/25, (1-day SOFR + 0.480%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 20865 | 20903300 |
| 5.36%, 07/03/25, (1-day SOFR + 0.500%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 16029 | 16051613 |
| 5.44%, 04/19/27, (1-day SOFR + 0.600%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 16194 | 16223940 |
| 5.49%, 03/06/26, (1-day SOFR + 0.440%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 10734 | 10745685 |
| 5.52%, 07/15/27, (1-day SOFR + 0.680%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 10500 | 10546229 |
| 5.56%, 06/11/27, (1-day SOFR + 0.600%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 12125 | 12123559 |
| 5.60%, 03/07/25, (1-day SOFR + 0.560%)<sup>(b)</sup> | &nbsp;&nbsp; 12343 | 12356494 |
| 5.64%, 03/03/26, (1-day SOFR + 0.570%)<sup>(b)</sup> | &nbsp;&nbsp; 13305 | 13342720 |
| 5.83%, 06/08/26, <br> (1-day SOFR Index + 0.790%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12500 | 12569975 |
|  |  | 199998832 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| Glencore Funding LLC, 5.90%, 04/04/27, <br> (1-day SOFR Index + 1.060%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 12500 | 12519607 |
| **Multi-National — 4.1%** | **Multi-National — 4.1%** | **Multi-National — 4.1%** |
| European Investment Bank, 6.08%, 05/21/28, <br> (1-day SOFR Index + 1.000%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 32200 | 32960711 |
| Inter-American Development Bank |  |  |
| 5.20%, 03/20/28, <br> (1-day SOFR Index + 0.270%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 59150 | 59062289 |
| 5.22%, 10/05/28, <br> (1-day SOFR Index + 0.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 45060 | 45132530 |
| International Bank for Reconstruction & <br> Development<br>|  |  |
| 5.14%, 01/24/29, <br> (1-day SOFR Index + 0.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 71000 | 70941370 |
| 5.21%, 01/12/27, <br> (1-day SOFR Index + 0.370%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 92280 | 92555315 |
|  |  | 300652215 |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| Bristol-Myers Squibb Co., 5.58%, 02/20/26, <br> (1-day SOFR + 0.490%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 18250 | 18282197 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts — 0.6%** | **Real Estate Investment Trusts — 0.6%** | **Real Estate Investment Trusts — 0.6%** |
| Public Storage Operating Co. |  |  |
| 5.43%, 07/25/25, <br> (1-day SOFR Index + 0.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $19129 | $19169879 |
| 5.54%, 04/16/27, <br> (1-day SOFR Index + 0.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 25463 | 25574077 |
|  |  | 44743956 |
| **Savings & Loans — 0.2%** | **Savings & Loans — 0.2%** | **Savings & Loans — 0.2%** |
| Nationwide Building Society, 6.39%, 02/16/28, <br> (1-day SOFR + 1.290%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 12658 | 12738861 |
| **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |
| Verizon Communications Inc., 5.66%, 03/20/26, <br> (1-day SOFR Index + 0.790%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 26173 | 26277084 |
| **Total Corporate Bonds & Notes — 75.9%** <br>**(Cost: $5,534,304,977)** | **Total Corporate Bonds & Notes — 75.9%** <br>**(Cost: $5,534,304,977)** | 5557185797 |
| **Foreign Government Obligations**<sup>(e)</sup> | **Foreign Government Obligations**<sup>(e)</sup> | **Foreign Government Obligations**<sup>(e)</sup> |
| **Canada — 1.4%** | **Canada — 1.4%** | **Canada — 1.4%** |
| CPPIB Capital Inc. |  |  |
| 6.11%, 04/04/25, <br> (1-day SOFR Index + 1.250%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 45200 | 45410274 |
| 6.26%, 03/11/26, (1-day SOFR + 1.250%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 24150 | 24460451 |
| PSP Capital Inc., 5.31%, 03/03/25, <br> (1-day SOFR Index + 0.240%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 30685 | 30693771 |
|  |  | 100564496 |
| **Netherlands — 0.0%** | **Netherlands — 0.0%** | **Netherlands — 0.0%** |
| BNG Bank NV, 6.17%, 08/05/26, <br> (1-day SOFR Index + 1.000%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 1700 | 1719886 |
| **Norway — 0.9%** | **Norway — 0.9%** | **Norway — 0.9%** |
| Kommunalbanken AS, 5.96%, 06/17/26, <br> (1-day SOFR Index + 1.000%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 61370 | 62032616 |
| **South Korea — 0.1%** | **South Korea — 0.1%** | **South Korea — 0.1%** |
| Export-Import Bank of Korea, 5.83%, 09/11/29, <br> (1-day SOFR + 0.820%)<sup>(b)</sup><br>| &nbsp;&nbsp; 9600 | 9664536 |
| Korea Development Bank (The), 5.54%, 10/23/26, <br> (1-day SOFR + 0.700%)<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 200821 |
| Korea National Oil Corp., 6.22%, 11/14/26, <br> (1-day SOFR + 1.080%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 550 | 554284 |
|  |  | 10419641 |
| **Supranational — 19.7%** | **Supranational — 19.7%** | **Supranational — 19.7%** |
| Asian Development Bank |  |  |
| 5.23%, 06/20/28, <br> (1-day SOFR Index + 0.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 20300 | 20299246 |
| 5.86%, 04/06/27, <br> (1-day SOFR Index + 1.000%)<sup>(b)</sup><br>| &nbsp;&nbsp; 39588 | 40275025 |
| 5.97%, 06/16/26, <br> (1-day SOFR Index + 1.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 51170 | 51808230 |
| 6.09%, 08/27/26, <br> (1-day SOFR Index + 1.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 41265 | 41835387 |
| Asian Infrastructure Investment Bank (The) |  |  |
| 5.06%, 04/15/26, <br> (1-day SOFR + 0.220%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 2500 | 2498733 |
| 5.76%, 08/16/27, <br> (1-day SOFR Index + 0.620%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 13450 | 13564103 |
| European Bank for Reconstruction & Development |  |  |
| 5.03%, 04/14/26, <br> (1-day SOFR Index + 0.190%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 92705 | 92667518 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Supranational (continued)** | **Supranational (continued)** | **Supranational (continued)** |
| 5.40%, 02/16/29, <br> (1-day SOFR Index + 0.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $55375 | $55298176 |
| 5.45%, 02/20/28, <br> (1-day SOFR Index + 0.330%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 62500 | 62562177 |
| European Investment Bank |  |  |
| 5.46%, 08/14/29, <br> (1-day SOFR Index + 0.320%)<sup>(b)</sup><br>| &nbsp;&nbsp; 50000 | 50021849 |
| 5.84%, 01/21/26, <br> (1-day SOFR Index + 1.000%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 56260 | 56809018 |
| Inter-American Development Bank |  |  |
| 5.12%, 04/12/27, <br> (1-day SOFR Index + 0.280%)<sup>(b)</sup><br>| &nbsp;&nbsp; 60398 | 60423040 |
| 5.14%, 09/16/26, <br> (1-day SOFR Index + 0.170%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 72692 | 72654868 |
| 5.21%, 10/04/27, <br> (1-day SOFR Index + 0.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 54470 | 54612180 |
| 5.35%, 02/10/26, <br> (1-day SOFR Index + 0.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 60264 | 60249774 |
| 5.42%, 02/04/25, <br> (1-day SOFR Index + 0.250%)<sup>(b)</sup><br>| &nbsp;&nbsp; 24465 | 24471326 |
| 5.44%, 02/15/29, <br> (1-day SOFR Index + 0.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 59479 | 59414063 |
| 5.55%, 08/01/29, <br> (1-day SOFR Index + 0.370%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 31000 | 31024917 |
| International Bank for Reconstruction & <br> Development<br>|  |  |
| 5.15%, 06/15/26, <br> (1-day SOFR Index + 0.180%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 40590 | 40581628 |
| 5.21%, 09/23/26, <br> (1-day SOFR Index + 0.310%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 79095 | 79272172 |
| 5.24%, 06/15/27, <br> (1-day SOFR Index + 0.270%)<sup>(b)</sup><br>| &nbsp;&nbsp; 46000 | 46033755 |
| 5.26%, 09/18/25, <br> (1-day SOFR Index + 0.310%)<sup>(b)</sup><br>| &nbsp;&nbsp; 69320 | 69417219 |
| 5.40%, 11/22/28, <br> (1-day SOFR Index + 0.290%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 65600 | 65513583 |
| 5.44%, 05/15/28, <br> (1-day SOFR Index + 0.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 59860 | 59869356 |
| 5.56%, 08/19/27, <br> (1-day SOFR Index + 0.430%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 100133 | 100610397 |
| International Finance Corp. |  |  |
| 5.25%, 03/16/26, <br> (1-day SOFR Index + 0.280%)<sup>(b)</sup><br>| &nbsp;&nbsp; 35820 | 35875137 |
| 5.39%, 08/28/28, <br> (1-day SOFR Index + 0.310%)<sup>(b)</sup><br>| &nbsp;&nbsp; 45620 | 45625427 |
| Nordic Investment Bank |  |  |
| 5.15%, 10/04/27, <br> (1-day SOFR Index + 0.290%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 1201 | 1201336 |
| 6.15%, 05/12/26, <br> (1-day SOFR Index + 1.000%)<sup>(b)</sup><br>| &nbsp;&nbsp; 46185 | 46731987 |
|  |  | 1441221627 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Sweden — 0.8%** | **Sweden — 0.8%** | **Sweden — 0.8%** |
| Svensk Exportkredit AB |  |  |
| 1.00%, 05/05/27, (1-day SOFR + 1.000%)<sup>(b)</sup> | &nbsp;&nbsp; $10000 | $10156671 |
| 6.17%, 08/03/26, <br> (1-day SOFR Index + 1.000%)<sup>(b)</sup><br>| &nbsp;&nbsp; 49630 | 50166909 |
|  |  | 60323580 |
| **Total Foreign Government Obligations — 22.9%** <br>**(Cost: $1,675,586,593)** | **Total Foreign Government Obligations — 22.9%** <br>**(Cost: $1,675,586,593)** | 1676281846 |
| **Total Long-Term Investments — 98.8%** <br>**(Cost: $7,209,891,570)** | **Total Long-Term Investments — 98.8%** <br>**(Cost: $7,209,891,570)** | 7233467643 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 6.3%** | **Money Market Funds — 6.3%** | **Money Market Funds — 6.3%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 407512918 | 407798177 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 55930000 | 55930000 |
| **Total Short-Term Securities — 6.3%** <br>**(Cost: $463,492,984)** | **Total Short-Term Securities — 6.3%** <br>**(Cost: $463,492,984)** | 463728177 |
| **Total Investments — 105.1%** <br>**(Cost: $7,673,384,554)** | **Total Investments — 105.1%** <br>**(Cost: $7,673,384,554)** | 7697195820 |
| **Liabilities in Excess of Other Assets — (5.1)%** | **Liabilities in Excess of Other Assets — (5.1)%** | (373080772)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $7324115048 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(e)</sup> U.S. dollar denominated security issued by foreign domiciled entity.

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institu-<br> tional, SL Agency Shares<br>| $266715316 | $140955810 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1931)<br>| $128982 | $407798177 | 407512918 | $1579451 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, <br> SL Agency Shares<br>| 111310000 |  | &nbsp;&nbsp; (55380000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 55930000 | 55930000 | 2273848 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(1931)<br>| $128982 | $463728177 |  | $3853299 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Floating Rate Bond ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5557185797 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5557185797 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 1676281846 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1676281846 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 463728177 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 463728177 |
|  | &nbsp;&nbsp; $463728177 | &nbsp;&nbsp; $7233467643 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7697195820 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® USD Green Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Australia — 0.8%** | **Australia — 0.8%** | **Australia — 0.8%** |
| MTR Corp. CI Ltd., 2.50%, 11/02/26<sup>(a)</sup> | &nbsp;&nbsp; $1100 | $1060407 |
| Norinchukin Bank (The), 1.28%, 09/22/26<sup>(b)</sup> | &nbsp;&nbsp; 780 | 727985 |
| Principal Life Global Funding II, 1.25%, 08/16/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 930 | 876134 |
| WP Carey Inc., 2.45%, 02/01/32<sup>(c)</sup> | &nbsp;&nbsp; 596 | 496716 |
|  |  | 3161242 |
| **Brazil — 0.5%** | **Brazil — 0.5%** | **Brazil — 0.5%** |
| Suzano Austria GmbH, 5.75%, 07/14/26<sup>(a)</sup> | &nbsp;&nbsp; 830 | 838582 |
| Suzano International Finance BV, 5.50%, 01/17/27<sup>(c)</sup> | &nbsp;&nbsp; 1122 | 1130344 |
|  |  | 1968926 |
| **Canada — 1.7%** | **Canada — 1.7%** | **Canada — 1.7%** |
| Alimentation Couche-Tard Inc., 3.63%, 05/13/51<sup>(b)(c)</sup> | &nbsp;&nbsp; 540 | 382913 |
| Brookfield Finance Inc., 2.72%, 04/15/31 | &nbsp;&nbsp; 773 | 675652 |
| Canadian Imperial Bank of Commerce, 0.95%, <br> 10/23/25<sup>(c)</sup><br>| &nbsp;&nbsp; 930 | 898235 |
| Manulife Financial Corp., 3.70%, 03/16/32 | &nbsp;&nbsp; 1175 | 1086661 |
| Royal Bank of Canada, 1.15%, 07/14/26 | &nbsp;&nbsp; 1200 | 1134769 |
| Southern Power Co., 0.90%, 01/15/26 | &nbsp;&nbsp; 672 | 641306 |
| Toronto-Dominion Bank (The) |  |  |
| 1.25%, 12/13/24 | &nbsp;&nbsp; 855 | 851179 |
| 5.26%, 12/11/26 | &nbsp;&nbsp; 815 | 825464 |
|  |  | 6496179 |
| **Chile — 0.4%** | **Chile — 0.4%** | **Chile — 0.4%** |
| Colbun SA, 3.15%, 01/19/32<sup>(a)</sup> | &nbsp;&nbsp; 940 | 809865 |
| Inversiones CMPC SA, 4.38%, 04/04/27<sup>(a)(c)</sup> | &nbsp;&nbsp; 780 | 767093 |
|  |  | 1576958 |
| **China — 5.9%** | **China — 5.9%** | **China — 5.9%** |
| Agricultural Bank of China Ltd./Hong Kong, 2.00%, <br> 03/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1200 | 1188210 |
| Agricultural Bank of China Ltd./New York |  |  |
| 1.25%, 01/19/26<sup>(a)</sup> | &nbsp;&nbsp; 400 | 384150 |
| 2.00%, 01/18/27<sup>(a)</sup> | &nbsp;&nbsp; 600 | 569026 |
| Amipeace Ltd., 1.75%, 11/09/26<sup>(a)</sup> | &nbsp;&nbsp; 700 | 661360 |
| Baidu Inc., 2.38%, 08/23/31<sup>(c)</sup> | &nbsp;&nbsp; 1105 | 946914 |
| Bank of China Ltd./Johannesburg, 1.88%, 02/16/25<sup>(a)</sup> | &nbsp;&nbsp; 600 | 594523 |
| Bank of China Ltd./Luxembourg, 1.40%, 04/28/26<sup>(a)</sup> | &nbsp;&nbsp; 1200 | 1143853 |
| Bank of China Ltd./Paris, 4.75%, 11/23/25<sup>(a)</sup> | &nbsp;&nbsp; 600 | 598234 |
| Bank of China Ltd./Singapore, 3.25%, 04/28/25<sup>(a)</sup> | &nbsp;&nbsp; 700 | 694126 |
| Chengdu Tianfu New Area Investment Group Co. Ltd., <br> 5.45%, 04/10/27<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 200975 |
| China Construction Bank Corp./Hong Kong |  |  |
| 1.25%, 08/04/25<sup>(a)</sup> | &nbsp;&nbsp; 1400 | 1362239 |
| 5.00%, 11/30/26<sup>(a)</sup> | &nbsp;&nbsp; 800 | 805904 |
| China Construction Bank Corp./London, 3.13%, <br> 05/17/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1400 | 1386534 |
| China Construction Bank Corp./Sydney, 4.50%, <br> 05/31/26<sup>(a)</sup><br>| &nbsp;&nbsp; 800 | 798384 |
| China Merchants Bank Co. Ltd./Hong Kong, 1.20%, <br> 09/10/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1400 | 1356246 |
| China Merchants Bank Co. Ltd./Luxembourg Branch, <br> 1.25%, 09/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 500 | 469837 |
| China Merchants Bank Co. Ltd./Sydney, 2.00%, <br> 03/02/25<sup>(a)</sup><br>| &nbsp;&nbsp; 400 | 396103 |
| Industrial & Commercial Bank of China <br> Ltd./Hong Kong<br>|  |  |
| 1.63%, 10/28/26<sup>(a)</sup> | &nbsp;&nbsp; 1800 | 1698128 |
| 2.95%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2300 | 2272984 |
| 5.38%, 10/25/26<sup>(a)</sup> | &nbsp;&nbsp; 1400 | 1418736 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Industrial Bank Co. Ltd./Hong Kong, 3.25%, <br> 05/18/25<sup>(a)</sup><br>| &nbsp;&nbsp; $1000 | $991048 |
| Lenovo Group Ltd., 6.54%, 07/27/32<sup>(a)</sup> | &nbsp;&nbsp; 905 | 974823 |
| Shanghai Pudong Development Bank Co. Ltd., 3.25%, <br> 07/14/25<sup>(a)</sup><br>| &nbsp;&nbsp; 600 | 592494 |
| Shanhai Hong Kong International Investments Ltd., <br> 5.00%, 06/16/25<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 196412 |
| Xiaomi Best Time International Ltd., 4.10%, <br> 07/14/51<sup>(a)</sup><br>| &nbsp;&nbsp; 620 | 486934 |
| Xingcheng Bvi Ltd., 2.38%, 10/08/26<sup>(a)</sup> | &nbsp;&nbsp; 600 | 561708 |
|  |  | 22749885 |
| **Denmark — 0.3%** | **Denmark — 0.3%** | **Denmark — 0.3%** |
| AP Moller - Maersk A/S, 5.88%, 09/14/33<sup>(b)</sup> | &nbsp;&nbsp; 1227 | 1275498 |
| **France — 1.0%** | **France — 1.0%** | **France — 1.0%** |
| BNP Paribas SA, 1.68%, 06/30/27, <br> (1-day SOFR + 0.912%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 1545 | 1463734 |
| Electricite de France SA, 3.63%, 10/13/25<sup>(b)</sup> | &nbsp;&nbsp; 2290 | 2263715 |
|  |  | 3727449 |
| **Germany — 4.4%** | **Germany — 4.4%** | **Germany — 4.4%** |
| Deutsche Bank AG/New York, 1.69%, 03/19/26 | &nbsp;&nbsp; 1270 | 1219499 |
| Kreditanstalt fuer Wiederaufbau |  |  |
| 0.75%, 09/30/30 | &nbsp;&nbsp; 3202 | 2626346 |
| 1.00%, 10/01/26 | &nbsp;&nbsp; 4309 | 4056352 |
| 1.75%, 09/14/29 | &nbsp;&nbsp; 3370 | 3008195 |
| 4.38%, 02/28/34<sup>(c)</sup> | &nbsp;&nbsp; 3340 | 3345521 |
| Landesbank Baden-Wuerttemberg, 2.00%, <br> 02/24/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1200 | 1188701 |
| RWE Finance U.S. LLC, 5.88%, 04/16/34<sup>(b)</sup> | &nbsp;&nbsp; 1700 | 1725660 |
|  |  | 17170274 |
| **Hong Kong — 1.4%** | **Hong Kong — 1.4%** | **Hong Kong — 1.4%** |
| CMB International Leasing Management Ltd., 1.75%, <br> 09/16/26<sup>(a)</sup><br>| &nbsp;&nbsp; 600 | 565640 |
| Hongkong Land Finance Cayman Islands Co. Ltd. <br> (The), 2.25%, 07/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 700 | 584655 |
| ICBCIL Finance Co. Ltd., 2.25%, 11/02/26<sup>(a)</sup> | &nbsp;&nbsp; 1300 | 1236258 |
| Link Finance Cayman 2009 Ltd. (The), 2.88%, <br> 07/21/26<sup>(a)</sup><br>| &nbsp;&nbsp; 700 | 677373 |
| MTR Corp. Ltd., 1.63%, 08/19/30<sup>(a)</sup> | &nbsp;&nbsp; 1860 | 1591207 |
| Swire Properties MTN Financing Ltd., 3.50%, <br> 01/10/28<sup>(a)</sup><br>| &nbsp;&nbsp; 900 | 863851 |
|  |  | 5518984 |
| **Hungary — 0.3%** | **Hungary — 0.3%** | **Hungary — 0.3%** |
| MVM Energetika Zrt, 7.50%, 06/09/28<sup>(a)</sup> | &nbsp;&nbsp; 1100 | 1158611 |
| **India — 1.1%** | **India — 1.1%** | **India — 1.1%** |
| Indian Railway Finance Corp. Ltd. |  |  |
| 3.57%, 01/21/32<sup>(a)(c)</sup> | &nbsp;&nbsp; 890 | 804779 |
| 3.84%, 12/13/27<sup>(a)</sup> | &nbsp;&nbsp; 800 | 776682 |
| Power Finance Corp. Ltd., 3.75%, 12/06/27<sup>(a)</sup> | &nbsp;&nbsp; 700 | 674042 |
| REC Ltd. |  |  |
| 3.88%, 07/07/27<sup>(a)</sup> | &nbsp;&nbsp; 700 | 677955 |
| 5.63%, 04/11/28<sup>(a)</sup> | &nbsp;&nbsp; 1200 | 1213675 |
|  |  | 4147133 |
| **Indonesia — 0.5%** | **Indonesia — 0.5%** | **Indonesia — 0.5%** |
| Pertamina Geothermal Energy PT, 5.15%, 04/27/28<sup>(a)</sup> | &nbsp;&nbsp; 730 | 729423 |
| Star Energy Geothermal Darajat II/Star Energy <br> Geothermal Salak, 4.85%, 10/14/38<sup>(a)</sup><br>| &nbsp;&nbsp; 1200 | 1129145 |
|  |  | 1858568 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® USD Green Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Ireland — 0.4%** | **Ireland — 0.4%** | **Ireland — 0.4%** |
| Bank of Ireland Group PLC, 6.25%, 09/16/26, <br> (1-year CMT + 2.650%)<sup>(b)(c)(d)</sup><br>| &nbsp;&nbsp; $1550 | $1563792 |
| **Japan — 3.9%** | **Japan — 3.9%** | **Japan — 3.9%** |
| Aozora Bank Ltd. |  |  |
| 5.90%, 03/02/26<sup>(a)</sup> | &nbsp;&nbsp; 400 | 401611 |
| 5.90%, 09/08/26<sup>(a)</sup> | &nbsp;&nbsp; 500 | 502770 |
| Central Nippon Expressway Co. Ltd., 0.89%, <br> 12/10/25<sup>(a)</sup><br>| &nbsp;&nbsp; 700 | 670112 |
| Honda Motor Co. Ltd. |  |  |
| 2.27%, 03/10/25<sup>(c)</sup> | &nbsp;&nbsp; 1605 | 1589467 |
| 2.53%, 03/10/27 | &nbsp;&nbsp; 1656 | 1583792 |
| 2.97%, 03/10/32 | &nbsp;&nbsp; 1140 | 1011400 |
| Marubeni Corp., 1.58%, 09/17/26<sup>(a)</sup> | &nbsp;&nbsp; 900 | 846612 |
| Mitsui Fudosan Co. Ltd., 2.57%, 01/21/32<sup>(b)</sup> | &nbsp;&nbsp; 575 | 487503 |
| Mizuho Financial Group Inc. |  |  |
| 3.26%, 05/22/30, (1-year CMT + 1.250%)<sup>(d)</sup> | &nbsp;&nbsp; 765 | 712154 |
| 5.78%, 07/06/29, (1-year CMT + 1.650%)<sup>(d)</sup> | &nbsp;&nbsp; 2225 | 2287552 |
| Norinchukin Bank (The) |  |  |
| 4.87%, 09/14/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 775 | 772001 |
| 5.09%, 10/16/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 300327 |
| 5.43%, 03/09/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 760 | 769035 |
| Sumitomo Mitsui Financial Group Inc., 2.47%, <br> 01/14/29<br>| &nbsp;&nbsp; 805 | 733932 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| 1.55%, 03/25/26<sup>(b)</sup> | &nbsp;&nbsp; 795 | 760419 |
| 2.80%, 03/10/27<sup>(b)</sup> | &nbsp;&nbsp; 730 | 698497 |
| 5.50%, 03/09/28<sup>(b)</sup> | &nbsp;&nbsp; 815 | 831459 |
|  |  | 14958643 |
| **Kuwait — 0.2%** | **Kuwait — 0.2%** | **Kuwait — 0.2%** |
| NBK SPC Ltd., 5.50%, 06/06/30, <br> (1-day SOFR + 1.160%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 700 | 717408 |
| **Mexico — 0.2%** | **Mexico — 0.2%** | **Mexico — 0.2%** |
| Trust Fibra Uno, 7.38%, 02/13/34<sup>(a)</sup> | &nbsp;&nbsp; 855 | 850926 |
| **Netherlands — 2.6%** | **Netherlands — 2.6%** | **Netherlands — 2.6%** |
| ABN AMRO Bank NV, 2.47%, 12/13/29, <br> (1-year CMT + 1.100%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 1635 | 1476736 |
| Cooperatieve Rabobank UA |  |  |
| 1.00%, 09/24/26, (1-year CMT + 0.730%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 1615 | 1558398 |
| 1.11%, 02/24/27, (1-year CMT + 0.550%)<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 1475 | 1402781 |
| ING Groep NV |  |  |
| 1.40%, 07/01/26, (1-year CMT + 1.100%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 1735 | 1692006 |
| 4.63%, 01/06/26<sup>(b)</sup> | &nbsp;&nbsp; 1965 | 1961533 |
| Nederlandse Waterschapsbank NV, 2.38%, <br> 03/24/26<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 2030 | 1974081 |
|  |  | 10065535 |
| **Portugal — 0.3%** | **Portugal — 0.3%** | **Portugal — 0.3%** |
| EDP Finance BV, 1.71%, 01/24/28<sup>(b)</sup> | &nbsp;&nbsp; 1325 | 1202919 |
| **Qatar — 0.2%** | **Qatar — 0.2%** | **Qatar — 0.2%** |
| QNB Finance Ltd., 1.63%, 09/22/25<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 969150 |
| **Saudi Arabia — 4.5%** | **Saudi Arabia — 4.5%** | **Saudi Arabia — 4.5%** |
| Gaci First Investment Co. |  |  |
| 4.75%, 02/14/30<sup>(a)</sup> | &nbsp;&nbsp; 2700 | 2650120 |
| 4.88%, 02/14/35<sup>(a)</sup> | &nbsp;&nbsp; 3300 | 3166520 |
| 5.00%, 10/13/27<sup>(a)</sup> | &nbsp;&nbsp; 2200 | 2199795 |
| 5.13%, 02/14/53<sup>(a)</sup> | &nbsp;&nbsp; 2700 | 2331276 |
| 5.25%, 10/13/32<sup>(a)</sup> | &nbsp;&nbsp; 2720 | 2720911 |
| 5.38%, 10/13/2122<sup>(a)</sup> | &nbsp;&nbsp; 800 | 686285 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** |
| Saudi Electricity Global Sukuk Co. 5 |  |  |
| 1.74%, 09/17/25<sup>(a)</sup> | &nbsp;&nbsp; $1200 | $1166016 |
| 2.41%, 09/17/30<sup>(a)</sup> | &nbsp;&nbsp; 900 | 784513 |
| Saudi Electricity Sukuk Programme Co., 4.63%, <br> 04/11/33<sup>(a)</sup><br>| &nbsp;&nbsp; 1850 | 1819719 |
|  |  | 17525155 |
| **Singapore — 0.2%** | **Singapore — 0.2%** | **Singapore — 0.2%** |
| Vena Energy Capital Pte Ltd., 3.13%, 02/26/25<sup>(a)</sup> | &nbsp;&nbsp; 800 | 794045 |
| **South Korea — 3.9%** | **South Korea — 3.9%** | **South Korea — 3.9%** |
| Doosan Enerbility Co. Ltd., 5.50%, 07/17/26<sup>(a)</sup> | &nbsp;&nbsp; 600 | 605766 |
| Hanwha Q Cells Americas Holdings Corp., 5.00%, <br> 07/27/28<sup>(a)</sup><br>| &nbsp;&nbsp; 625 | 626825 |
| Hyundai Capital Services Inc. |  |  |
| 1.25%, 02/08/26<sup>(a)</sup> | &nbsp;&nbsp; 1125 | 1072003 |
| 2.50%, 01/24/27<sup>(a)</sup> | &nbsp;&nbsp; 250 | 237131 |
| Kia Corp. |  |  |
| 1.75%, 10/16/26<sup>(a)</sup> | &nbsp;&nbsp; 350 | 329951 |
| 2.38%, 02/14/25<sup>(a)</sup> | &nbsp;&nbsp; 550 | 545357 |
| 2.75%, 02/14/27<sup>(a)</sup> | &nbsp;&nbsp; 730 | 696986 |
| Korea Development Bank (The), 0.75%, 01/25/25 | &nbsp;&nbsp; 1750 | 1732489 |
| Kyobo Life Insurance Co. Ltd., 5.90%, 06/15/52, <br> (5-year CMT + 2.887%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 780 | 796347 |
| LG Chem Ltd., 3.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 745 | 701706 |
| LG Energy Solution Ltd. |  |  |
| 5.38%, 07/02/29<sup>(a)</sup> | &nbsp;&nbsp; 1485 | 1488860 |
| 5.50%, 07/02/34<sup>(a)</sup> | &nbsp;&nbsp; 770 | 762550 |
| 5.63%, 09/25/26<sup>(a)</sup> | &nbsp;&nbsp; 625 | 630415 |
| 5.75%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; 925 | 941621 |
| Shinhan Bank Co. Ltd., 4.38%, 04/13/32<sup>(a)(c)</sup> | &nbsp;&nbsp; 800 | 749635 |
| SK Battery America Inc. |  |  |
| 2.13%, 01/26/26<sup>(a)</sup> | &nbsp;&nbsp; 1200 | 1147505 |
| 4.88%, 01/23/27<sup>(a)</sup> | &nbsp;&nbsp; 600 | 600066 |
| SK On Co. Ltd., 5.38%, 05/11/26<sup>(a)</sup> | &nbsp;&nbsp; 1400 | 1408175 |
|  |  | 15073388 |
| **Supranational — 0.5%** | **Supranational — 0.5%** | **Supranational — 0.5%** |
| New Development Bank (The), 5.13%, 04/26/26<sup>(a)</sup> | &nbsp;&nbsp; 1900 | 1898453 |
| **Sweden — 0.4%** | **Sweden — 0.4%** | **Sweden — 0.4%** |
| Swedbank AB, 1.54%, 11/16/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 1540 | 1451879 |
| **United Arab Emirates — 4.8%** | **United Arab Emirates — 4.8%** | **United Arab Emirates — 4.8%** |
| Abu Dhabi Commercial Bank PJSC |  |  |
| 4.50%, 09/14/27<sup>(a)</sup> | &nbsp;&nbsp; 900 | 895531 |
| 5.50%, 01/12/29<sup>(a)</sup> | &nbsp;&nbsp; 1100 | 1131460 |
| Abu Dhabi National Energy Co. PJSC, 4.70%, <br> 04/24/33<sup>(a)</sup><br>| &nbsp;&nbsp; 1550 | 1528127 |
| Adib Sukuk Co. II Ltd., 5.70%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 700 | 725000 |
| Aldar Investment Properties Sukuk Ltd. |  |  |
| 4.88%, 05/24/33<sup>(a)</sup> | &nbsp;&nbsp; 700 | 693075 |
| 5.50%, 05/16/34<sup>(a)</sup> | &nbsp;&nbsp; 700 | 722702 |
| Commercial Bank of Dubai PSC, 5.32%, 06/14/28<sup>(a)</sup> | &nbsp;&nbsp; 800 | 809520 |
| DP World Crescent Ltd., 5.50%, 09/13/33<sup>(a)</sup> | &nbsp;&nbsp; 2400 | 2441542 |
| Emirates NBD Bank PJSC, 5.88%, 10/11/28<sup>(a)</sup> | &nbsp;&nbsp; 1100 | 1147915 |
| First Abu Dhabi Bank PJSC |  |  |
| 4.77%, 06/06/28<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 999219 |
| 5.13%, 10/13/27<sup>(a)</sup> | &nbsp;&nbsp; 1175 | 1188309 |
| MAF Sukuk Ltd. |  |  |
| 3.93%, 02/28/30<sup>(a)</sup> | &nbsp;&nbsp; 800 | 763694 |
| 4.64%, 05/14/29<sup>(a)</sup> | &nbsp;&nbsp; 1400 | 1385050 |
| 5.00%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; 600 | 601185 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® USD Green Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Arab Emirates (continued)** | **United Arab Emirates (continued)** | **United Arab Emirates (continued)** |
| Masdar Abu Dhabi Future Energy Co. |  |  |
| 4.88%, 07/25/29<sup>(a)</sup> | &nbsp;&nbsp; $700 | $698373 |
| 4.88%, 07/25/33<sup>(a)</sup> | &nbsp;&nbsp; 1200 | 1178571 |
| 5.25%, 07/25/34<sup>(a)</sup> | &nbsp;&nbsp; 900 | 898840 |
| Sweihan PV Power Co. PJSC, 3.63%, 01/31/49<sup>(a)</sup> | &nbsp;&nbsp; 944 | 796068 |
|  |  | 18604181 |
| **United States — 36.3%** | **United States — 36.3%** | **United States — 36.3%** |
| AES Andes SA, 6.30%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 750 | 764130 |
| AES Corp. (The) |  |  |
| 1.38%, 01/15/26 | &nbsp;&nbsp; 1308 | 1252767 |
| 2.45%, 01/15/31<sup>(c)</sup> | &nbsp;&nbsp; 1608 | 1353618 |
| 5.45%, 06/01/28<sup>(c)</sup> | &nbsp;&nbsp; 1405 | 1417770 |
| Alexandria Real Estate Equities Inc. |  |  |
| 2.00%, 05/18/32 | &nbsp;&nbsp; 1350 | 1087820 |
| 2.95%, 03/15/34 | &nbsp;&nbsp; 1337 | 1118413 |
| 3.80%, 04/15/26 | &nbsp;&nbsp; 645 | 635086 |
| 4.75%, 04/15/35 | &nbsp;&nbsp; 787 | 753401 |
| American Homes 4 Rent LP, 5.50%, 02/01/34 | &nbsp;&nbsp; 1011 | 1015395 |
| Apple Inc., 3.00%, 06/20/27 | &nbsp;&nbsp; 1615 | 1564056 |
| Arizona Public Service Co., 2.65%, 09/15/50 | &nbsp;&nbsp; 691 | 412489 |
| AvalonBay Communities Inc. |  |  |
| 1.90%, 12/01/28 | &nbsp;&nbsp; 935 | 836818 |
| 2.05%, 01/15/32<sup>(c)</sup> | &nbsp;&nbsp; 1035 | 866586 |
| Avangrid Inc. |  |  |
| 3.15%, 12/01/24 | &nbsp;&nbsp; 925 | 923282 |
| 3.20%, 04/15/25 | &nbsp;&nbsp; 1185 | 1174727 |
| 3.80%, 06/01/29<sup>(c)</sup> | &nbsp;&nbsp; 1170 | 1116737 |
| Boston Properties LP |  |  |
| 2.45%, 10/01/33<sup>(c)</sup> | &nbsp;&nbsp; 1355 | 1052343 |
| 2.55%, 04/01/32 | &nbsp;&nbsp; 1520 | 1238325 |
| 3.40%, 06/21/29 | &nbsp;&nbsp; 1870 | 1716361 |
| 4.50%, 12/01/28 | &nbsp;&nbsp; 859 | 833099 |
| 6.50%, 01/15/34<sup>(c)</sup> | &nbsp;&nbsp; 1155 | 1222291 |
| 6.75%, 12/01/27<sup>(c)</sup> | &nbsp;&nbsp; 1275 | 1329124 |
| Consolidated Edison Co. of New York Inc. |  |  |
| 3.60%, 06/15/61<sup>(c)</sup> | &nbsp;&nbsp; 1250 | 890937 |
| Series 20A, 3.35%, 04/01/30 | &nbsp;&nbsp; 960 | 898583 |
| Series 20B, 3.95%, 04/01/50 | &nbsp;&nbsp; 1555 | 1266566 |
| Dominion Energy Inc., Series C, 2.25%, 08/15/31 | &nbsp;&nbsp; 1315 | 1106677 |
| DTE Electric Co. |  |  |
| 3.95%, 03/01/49 | &nbsp;&nbsp; 1084 | 875161 |
| Series A, 1.90%, 04/01/28 | &nbsp;&nbsp; 924 | 846275 |
| Series A, 4.05%, 05/15/48 | &nbsp;&nbsp; 812 | 671235 |
| Series B, 3.25%, 04/01/51 | &nbsp;&nbsp; 722 | 509435 |
| Series B, 3.65%, 03/01/52 | &nbsp;&nbsp; 615 | 463550 |
| Duke Energy Carolinas LLC, 3.95%, 11/15/28 | &nbsp;&nbsp; 1023 | 997813 |
| Duke Energy Florida LLC, 2.50%, 12/01/29<sup>(c)</sup> | &nbsp;&nbsp; 1075 | 969043 |
| Duke Energy Progress LLC |  |  |
| 3.45%, 03/15/29 | &nbsp;&nbsp; 946 | 902926 |
| 5.10%, 03/15/34 | &nbsp;&nbsp; 823 | 829031 |
| Equinix Inc. |  |  |
| 1.00%, 09/15/25 | &nbsp;&nbsp; 1283 | 1239488 |
| 1.55%, 03/15/28 | &nbsp;&nbsp; 1017 | 916896 |
| 2.50%, 05/15/31 | &nbsp;&nbsp; 1624 | 1398428 |
| 3.90%, 04/15/32 | &nbsp;&nbsp; 1835 | 1712215 |
| ERP Operating LP |  |  |
| 1.85%, 08/01/31 | &nbsp;&nbsp; 784 | 650903 |
| 4.15%, 12/01/28<sup>(c)</sup> | &nbsp;&nbsp; 624 | 612603 |
| Evergy Kansas Central Inc., 2.55%, 07/01/26<sup>(c)</sup> | &nbsp;&nbsp; 555 | 536773 |
| Federal Realty OP LP |  |  |
| 1.25%, 02/15/26<sup>(c)</sup> | &nbsp;&nbsp; 717 | 683839 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| 5.38%, 05/01/28 | &nbsp;&nbsp; $550 | $556560 |
| Fifth Third Bancorp, 1.71%, 11/01/27, <br> (1-day SOFR + 0.685%)<sup>(d)</sup><br>| &nbsp;&nbsp; 824 | 775188 |
| Ford Motor Co. |  |  |
| 3.25%, 02/12/32 | &nbsp;&nbsp; 4052 | 3393078 |
| 6.10%, 08/19/32<sup>(c)</sup> | &nbsp;&nbsp; 2758 | 2771994 |
| General Motors Co. |  |  |
| 5.40%, 10/15/29<sup>(c)</sup> | &nbsp;&nbsp; 1480 | 1493224 |
| 5.60%, 10/15/32<sup>(c)</sup> | &nbsp;&nbsp; 2040 | 2071216 |
| Georgia Power Co., 3.25%, 04/01/26 | &nbsp;&nbsp; 557 | 546550 |
| HA Sustainable Infrastructure Capital Inc., 6.38%, <br> 07/01/34<sup>(b)</sup><br>| &nbsp;&nbsp; 1060 | 1054458 |
| HAT Holdings I LLC/HAT Holdings II LLC |  |  |
| 3.38%, 06/15/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 1580 | 1525933 |
| 3.75%, 09/15/30<sup>(b)(c)</sup> | &nbsp;&nbsp; 596 | 522898 |
| 8.00%, 06/15/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 1202 | 1259073 |
| Healthpeak OP LLC |  |  |
| 1.35%, 02/01/27 | &nbsp;&nbsp; 913 | 845480 |
| 2.13%, 12/01/28 | &nbsp;&nbsp; 760 | 685505 |
| Host Hotels & Resorts LP |  |  |
| 5.70%, 07/01/34 | &nbsp;&nbsp; 935 | 933867 |
| Series H, 3.38%, 12/15/29 | &nbsp;&nbsp; 708 | 647914 |
| Series I, 3.50%, 09/15/30 | &nbsp;&nbsp; 1795 | 1624196 |
| Series J, 2.90%, 12/15/31 | &nbsp;&nbsp; 435 | 370709 |
| Hyundai Capital America, 5.80%, 06/26/25<sup>(b)(c)</sup> | &nbsp;&nbsp; 1241 | 1245533 |
| Interstate Power & Light Co. |  |  |
| 3.50%, 09/30/49 | &nbsp;&nbsp; 544 | 393893 |
| 3.60%, 04/01/29 | &nbsp;&nbsp; 651 | 620005 |
| 4.10%, 09/26/28 | &nbsp;&nbsp; 585 | 570780 |
| JPMorgan Chase & Co., 6.07%, 10/22/27, <br> (1-day SOFR + 1.330%)<sup>(d)</sup><br>| &nbsp;&nbsp; 3230 | 3308987 |
| Kaiser Foundation Hospitals |  |  |
| 3.15%, 05/01/27 | &nbsp;&nbsp; 945 | 915348 |
| Series 2021, 2.81%, 06/01/41 | &nbsp;&nbsp; 1920 | 1402715 |
| Kilroy Realty LP |  |  |
| 2.50%, 11/15/32 | &nbsp;&nbsp; 605 | 473262 |
| 2.65%, 11/15/33 | &nbsp;&nbsp; 817 | 630343 |
| 4.75%, 12/15/28<sup>(c)</sup> | &nbsp;&nbsp; 625 | 611258 |
| Kimco Realty OP LLC, 2.70%, 10/01/30 | &nbsp;&nbsp; 803 | 714330 |
| Liberty Utilities Finance GP 1, 2.05%, 09/15/30<sup>(b)</sup> | &nbsp;&nbsp; 977 | 819729 |
| Massachusetts Institute of Technology, 3.96%, <br> 07/01/38<sup>(c)</sup><br>| &nbsp;&nbsp; 691 | 638521 |
| Metropolitan Life Global Funding I, 0.95%, <br> 07/02/25<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 1290 | 1259138 |
| MidAmerican Energy Co. |  |  |
| 2.70%, 08/01/52 | &nbsp;&nbsp; 765 | 482070 |
| 3.10%, 05/01/27<sup>(c)</sup> | &nbsp;&nbsp; 587 | 568664 |
| 3.15%, 04/15/50 | &nbsp;&nbsp; 908 | 634284 |
| 3.65%, 04/15/29 | &nbsp;&nbsp; 1350 | 1296253 |
| 3.65%, 08/01/48 | &nbsp;&nbsp; 1085 | 834899 |
| 3.95%, 08/01/47 | &nbsp;&nbsp; 760 | 609399 |
| 4.25%, 07/15/49 | &nbsp;&nbsp; 1395 | 1179983 |
| 5.30%, 02/01/55 | &nbsp;&nbsp; 965 | 948140 |
| 5.35%, 01/15/34<sup>(c)</sup> | &nbsp;&nbsp; 543 | 557265 |
| 5.85%, 09/15/54 | &nbsp;&nbsp; 1710 | 1811786 |
| Nature Conservancy (The), Series A, 3.96%, <br> 03/01/52<br>| &nbsp;&nbsp; 532 | 438045 |
| New York State Electric & Gas Corp. |  |  |
| 5.30%, 08/15/34<sup>(b)(c)</sup> | &nbsp;&nbsp; 200 | 198706 |
| 5.65%, 08/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 530 | 542403 |
| 5.85%, 08/15/33<sup>(b)</sup> | &nbsp;&nbsp; 657 | 677651 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® USD Green Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| NextEra Energy Capital Holdings Inc., 1.90%, <br> 06/15/28<br>| &nbsp;&nbsp; $2347 | $2123992 |
| Niagara Mohawk Power Corp. |  |  |
| 1.96%, 06/27/30<sup>(b)</sup> | &nbsp;&nbsp; 920 | 783426 |
| 5.78%, 09/16/52<sup>(b)</sup> | &nbsp;&nbsp; 798 | 803782 |
| NiSource Inc., 5.00%, 06/15/52 | &nbsp;&nbsp; 551 | 505132 |
| Norinchukin Bank (The), 2.08%, 09/22/31<sup>(b)</sup> | &nbsp;&nbsp; 780 | 637069 |
| Northern States Power Co./MN |  |  |
| 2.25%, 04/01/31 | &nbsp;&nbsp; 645 | 554851 |
| 2.60%, 06/01/51<sup>(c)</sup> | &nbsp;&nbsp; 1110 | 688318 |
| 2.90%, 03/01/50 | &nbsp;&nbsp; 860 | 574234 |
| 3.20%, 04/01/52 | &nbsp;&nbsp; 627 | 438186 |
| 4.50%, 06/01/52 | &nbsp;&nbsp; 765 | 672100 |
| 5.40%, 03/15/54 | &nbsp;&nbsp; 1085 | 1092482 |
| NSTAR Electric Co. |  |  |
| 3.10%, 06/01/51 | &nbsp;&nbsp; 555 | 374443 |
| 3.25%, 05/15/29 | &nbsp;&nbsp; 590 | 556377 |
| 3.95%, 04/01/30 | &nbsp;&nbsp; 632 | 608873 |
| 4.95%, 09/15/52 | &nbsp;&nbsp; 618 | 577077 |
| Oncor Electric Delivery Co. LLC, 4.15%, 06/01/32 | &nbsp;&nbsp; 623 | 590875 |
| Pacific Life Global Funding II, 1.38%, 04/14/26<sup>(b)</sup> | &nbsp;&nbsp; 1240 | 1184150 |
| PacifiCorp |  |  |
| 2.90%, 06/15/52 | &nbsp;&nbsp; 1587 | 974156 |
| 5.50%, 05/15/54 | &nbsp;&nbsp; 1896 | 1815905 |
| Piedmont Operating Partnership LP, 3.15%, 08/15/30 | &nbsp;&nbsp; 455 | 389115 |
| PNC Financial Services Group Inc. (The) |  |  |
| 2.20%, 11/01/24 | &nbsp;&nbsp; 960 | 960000 |
| 4.76%, 01/26/27, <br> (1-day SOFR Index + 1.085%)<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 2025 | 2023229 |
| Prologis LP |  |  |
| 1.25%, 10/15/30<sup>(c)</sup> | &nbsp;&nbsp; 1160 | 953535 |
| 4.63%, 01/15/33 | &nbsp;&nbsp; 1172 | 1146952 |
| Prudential Financial Inc., 1.50%, 03/10/26 | &nbsp;&nbsp; 776 | 745008 |
| Public Service Co. of Colorado |  |  |
| 3.70%, 06/15/28 | &nbsp;&nbsp; 714 | 690934 |
| 4.10%, 06/15/48 | &nbsp;&nbsp; 570 | 461048 |
| 5.75%, 05/15/54 | &nbsp;&nbsp; 1380 | 1430241 |
| Series 34, 3.20%, 03/01/50 | &nbsp;&nbsp; 858 | 590043 |
| Series 36, 2.70%, 01/15/51 | &nbsp;&nbsp; 525 | 324537 |
| Public Service Co. of Oklahoma |  |  |
| Series J, 2.20%, 08/15/31 | &nbsp;&nbsp; 695 | 578271 |
| Series K, 3.15%, 08/15/51 | &nbsp;&nbsp; 623 | 410600 |
| Puget Sound Energy Inc. |  |  |
| 5.45%, 06/01/53 | &nbsp;&nbsp; 407 | 402508 |
| 5.69%, 06/15/54 | &nbsp;&nbsp; 850 | 870943 |
| Rexford Industrial Realty LP, 2.15%, 09/01/31 | &nbsp;&nbsp; 648 | 534870 |
| RWE Finance U.S. LLC, 6.25%, 04/16/54<sup>(b)</sup> | &nbsp;&nbsp; 1560 | 1564009 |
| Seattle Children's Hospital, Series 2021, 2.72%, <br> 10/01/50<sup>(c)</sup><br>| &nbsp;&nbsp; 503 | 324681 |
| Solar Star Funding LLC, 5.38%, 06/30/35<sup>(b)(c)</sup> | &nbsp;&nbsp; 1137 | 1139945 |
| Southern Power Co., 4.15%, 12/01/25 | &nbsp;&nbsp; 915 | 907353 |
| Southwestern Electric Power Co., 3.25%, 11/01/51 | &nbsp;&nbsp; 1041 | 689576 |
| Southwestern Public Service Co. |  |  |
| 3.75%, 06/15/49<sup>(c)</sup> | &nbsp;&nbsp; 455 | 342054 |
| Series 8, 3.15%, 05/01/50 | &nbsp;&nbsp; 935 | 623424 |
| Toyota Motor Credit Corp., 2.15%, 02/13/30 | &nbsp;&nbsp; 1189 | 1046294 |
| Tucson Electric Power Co., 1.50%, 08/01/30<sup>(c)</sup> | &nbsp;&nbsp; 480 | 398879 |
| UDR Inc. |  |  |
| 1.90%, 03/15/33<sup>(c)</sup> | &nbsp;&nbsp; 624 | 483267 |
| 3.10%, 11/01/34 | &nbsp;&nbsp; 459 | 379455 |
| Union Electric Co., 2.63%, 03/15/51 | &nbsp;&nbsp; 855 | 529399 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Union Pacific Corp., 4.95%, 09/09/52 | &nbsp;&nbsp; $1031 | $980755 |
| Verizon Communications Inc. |  |  |
| 1.50%, 09/18/30<sup>(c)</sup> | &nbsp;&nbsp; 1555 | 1294333 |
| 2.85%, 09/03/41 | &nbsp;&nbsp; 1648 | 1172373 |
| 3.88%, 02/08/29 | &nbsp;&nbsp; 1570 | 1518965 |
| 3.88%, 03/01/52 | &nbsp;&nbsp; 1640 | 1258514 |
| 5.05%, 05/09/33 | &nbsp;&nbsp; 1660 | 1662034 |
| 5.50%, 02/23/54 | &nbsp;&nbsp; 1580 | 1570964 |
| Welltower OP LLC |  |  |
| 2.70%, 02/15/27 | &nbsp;&nbsp; 790 | 760477 |
| 3.85%, 06/15/32<sup>(c)</sup> | &nbsp;&nbsp; 884 | 819362 |
| Wisconsin Electric Power Co., 4.75%, 09/30/32<sup>(c)</sup> | &nbsp;&nbsp; 760 | 760384 |
| Wisconsin Power and Light Co. |  |  |
| 1.95%, 09/16/31 | &nbsp;&nbsp; 600 | 493323 |
| 3.95%, 09/01/32 | &nbsp;&nbsp; 920 | 862259 |
| 4.95%, 04/01/33<sup>(c)</sup> | &nbsp;&nbsp; 417 | 414401 |
| 5.38%, 03/30/34 | &nbsp;&nbsp; 425 | 430783 |
| Wisconsin Public Service Corp., 2.85%, 12/01/51 | &nbsp;&nbsp; 746 | 480559 |
| Xylem Inc./New York |  |  |
| 1.95%, 01/30/28<sup>(c)</sup> | &nbsp;&nbsp; 865 | 797001 |
| 2.25%, 01/30/31 | &nbsp;&nbsp; 780 | 673921 |
|  |  | 140570254 |
| **Total Corporate Bonds & Notes — 76.7%** <br>**(Cost: $305,503,030)** | **Total Corporate Bonds & Notes — 76.7%** <br>**(Cost: $305,503,030)** | 297055435 |
| **Foreign Government Obligations**<sup>(e)</sup> | **Foreign Government Obligations**<sup>(e)</sup> | **Foreign Government Obligations**<sup>(e)</sup> |
| **Canada — 0.9%** | **Canada — 0.9%** | **Canada — 0.9%** |
| CDP Financial Inc., 1.00%, 05/26/26<sup>(b)</sup> | &nbsp;&nbsp; 1800 | 1706975 |
| Export Development Canada, 4.75%, 06/05/34 | &nbsp;&nbsp; 1580 | 1624683 |
|  |  | 3331658 |
| **Chile — 1.2%** | **Chile — 1.2%** | **Chile — 1.2%** |
| Chile Government International Bond |  |  |
| 2.55%, 01/27/32 | &nbsp;&nbsp; 2345 | 2009665 |
| 3.50%, 01/25/50<sup>(c)</sup> | &nbsp;&nbsp; 3675 | 2664274 |
|  |  | 4673939 |
| **Denmark — 0.2%** | **Denmark — 0.2%** | **Denmark — 0.2%** |
| Kommunekredit, 5.13%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 600 | 612880 |
| **Hong Kong — 4.4%** | **Hong Kong — 4.4%** | **Hong Kong — 4.4%** |
| Airport Authority |  |  |
| 1.75%, 01/12/27<sup>(b)</sup> | &nbsp;&nbsp; 1620 | 1530148 |
| 4.75%, 01/12/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 1480 | 1492998 |
| Hong Kong Government International Bond |  |  |
| 0.63%, 02/02/26<sup>(b)</sup> | &nbsp;&nbsp; 2335 | 2230684 |
| 1.38%, 02/02/31<sup>(b)</sup> | &nbsp;&nbsp; 1700 | 1422084 |
| 1.75%, 11/24/31<sup>(a)</sup> | &nbsp;&nbsp; 1600 | 1349489 |
| 2.38%, 02/02/51<sup>(b)</sup> | &nbsp;&nbsp; 800 | 517421 |
| 4.00%, 06/07/28<sup>(b)</sup> | &nbsp;&nbsp; 650 | 645544 |
| 4.00%, 06/07/33<sup>(b)(c)</sup> | &nbsp;&nbsp; 1450 | 1412999 |
| 4.25%, 06/07/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 800 | 800000 |
| 4.25%, 07/24/27<sup>(b)</sup> | &nbsp;&nbsp; 1500 | 1509604 |
| 4.38%, 01/11/26<sup>(b)</sup> | &nbsp;&nbsp; 30 | 30022 |
| 4.50%, 01/11/28<sup>(b)</sup> | &nbsp;&nbsp; 1710 | 1722755 |
| 4.63%, 01/11/33<sup>(b)</sup> | &nbsp;&nbsp; 1500 | 1524306 |
| 5.25%, 01/11/53<sup>(b)(c)</sup> | &nbsp;&nbsp; 820 | 883219 |
|  |  | 17071273 |
| **Indonesia — 1.1%** | **Indonesia — 1.1%** | **Indonesia — 1.1%** |
| Perusahaan Penerbit SBSN Indonesia III |  |  |
| 3.55%, 06/09/51<sup>(a)(c)</sup> | &nbsp;&nbsp; 2280 | 1699587 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® USD Green Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Indonesia (continued)** | **Indonesia (continued)** | **Indonesia (continued)** |
| 4.70%, 06/06/32<sup>(a)(c)</sup> | &nbsp;&nbsp; $2500 | $2467363 |
| 5.50%, 07/02/54<sup>(a)</sup> | &nbsp;&nbsp; 230 | 234635 |
|  |  | 4401585 |
| **Israel — 0.7%** | **Israel — 0.7%** | **Israel — 0.7%** |
| Israel Government International Bond, 4.50%, <br> 01/17/33<sup>(c)</sup><br>| &nbsp;&nbsp; 3075 | 2801610 |
| **Japan — 0.6%** | **Japan — 0.6%** | **Japan — 0.6%** |
| Japan Bank for International Cooperation |  |  |
| 1.63%, 01/20/27<sup>(c)</sup> | &nbsp;&nbsp; 1335 | 1256201 |
| 4.38%, 10/05/27 | &nbsp;&nbsp; 750 | 750118 |
| 4.88%, 10/18/28 | &nbsp;&nbsp; 450 | 458549 |
|  |  | 2464868 |
| **Norway — 0.2%** | **Norway — 0.2%** | **Norway — 0.2%** |
| Kommunalbanken AS, 2.13%, 02/11/25<sup>(b)</sup> | &nbsp;&nbsp; 630 | 625493 |
| **Peru — 0.3%** | **Peru — 0.3%** | **Peru — 0.3%** |
| Fondo MIVIVIENDA SA, 4.63%, 04/12/27<sup>(a)</sup> | &nbsp;&nbsp; 1040 | 1027667 |
| **Senegal — 3.8%** | **Senegal — 3.8%** | **Senegal — 3.8%** |
| European Investment Bank |  |  |
| 0.63%, 10/21/27 | &nbsp;&nbsp; 450 | 405849 |
| 3.75%, 02/14/33<sup>(c)</sup> | &nbsp;&nbsp; 8060 | 7748805 |
| 4.38%, 10/10/31 | &nbsp;&nbsp; 6630 | 6664422 |
|  |  | 14819076 |
| **South Korea — 0.9%** | **South Korea — 0.9%** | **South Korea — 0.9%** |
| Export-Import Bank of Korea |  |  |
| 1.75%, 10/19/28<sup>(a)</sup> | &nbsp;&nbsp; 1455 | 1306307 |
| 2.13%, 01/18/32<sup>(c)</sup> | &nbsp;&nbsp; 1780 | 1489476 |
| Korea Hydro & Nuclear Power Co. Ltd., 5.00%, <br> 07/18/28<sup>(a)</sup><br>| &nbsp;&nbsp; 800 | 804998 |
|  |  | 3600781 |
| **Supranational — 6.2%** | **Supranational — 6.2%** | **Supranational — 6.2%** |
| Arab Petroleum Investments Corp. |  |  |
| 1.48%, 10/06/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 1140 | 1072051 |
| 5.43%, 05/02/29<sup>(b)</sup> | &nbsp;&nbsp; 1200 | 1225043 |
| Asian Development Bank |  |  |
| 1.75%, 08/14/26 | &nbsp;&nbsp; 985 | 943288 |
| 2.13%, 03/19/25<sup>(c)</sup> | &nbsp;&nbsp; 748 | 741001 |
| 2.38%, 08/10/27<sup>(c)</sup> | &nbsp;&nbsp; 929 | 885317 |
| 3.13%, 09/26/28 | &nbsp;&nbsp; 1445 | 1391868 |
| European Bank for Reconstruction & Development, <br> 1.50%, 02/13/25<br>| &nbsp;&nbsp; 1430 | 1417206 |
| European Investment Bank |  |  |
| 0.75%, 09/23/30 | &nbsp;&nbsp; 2241 | 1838168 |
| 1.63%, 10/09/29 | &nbsp;&nbsp; 1537 | 1362010 |
| 1.63%, 05/13/31<sup>(c)</sup> | &nbsp;&nbsp; 3520 | 2993335 |
| 2.13%, 04/13/26 | &nbsp;&nbsp; 2250 | 2181913 |
| 2.38%, 05/24/27 | &nbsp;&nbsp; 2511 | 2402459 |
| 2.88%, 06/13/25<sup>(b)</sup> | &nbsp;&nbsp; 1200 | 1188714 |
| International Bank for Reconstruction & Development |  |  |
| 2.13%, 03/03/25 | &nbsp;&nbsp; 820 | 813150 |
| 3.13%, 11/20/25 | &nbsp;&nbsp; 1405 | 1385650 |
| International Finance Corp., 2.13%, 04/07/26 | &nbsp;&nbsp; 2440 | 2365898 |
|  |  | 24207071 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Sweden — 0.1%** | **Sweden — 0.1%** | **Sweden — 0.1%** |
| Kommuninvest I Sverige AB, 4.63%, 09/29/28<sup>(b)</sup> | &nbsp;&nbsp; $200 | $203006 |
| **Total Foreign Government Obligations — 20.6%** <br>**(Cost: $83,046,116)** | **Total Foreign Government Obligations — 20.6%** <br>**(Cost: $83,046,116)** | 79840907 |
| **Municipal Debt Obligations** | **Municipal Debt Obligations** | **Municipal Debt Obligations** |
| **United States — 0.4%** | **United States — 0.4%** | **United States — 0.4%** |
| City of Los Angeles Department of Airports Customer <br> Facility Charge Revenue RB, 4.24%, 05/15/48 <br> (AGM)<br>| &nbsp;&nbsp; 460 | 395859 |
| District of Columbia Water & Sewer Authority RB, <br> 4.81%, 10/01/2114<br>| &nbsp;&nbsp; 500 | 454200 |
| University of Michigan RB, 3.50%, 04/01/52 | &nbsp;&nbsp; 600 | 466763 |
| **Total Municipal Debt Obligations — 0.4%** <br>**(Cost: $1,501,712)** | **Total Municipal Debt Obligations — 0.4%** <br>**(Cost: $1,501,712)** | 1316822 |
| **Total Long-Term Investments — 97.7%** <br>**(Cost: $390,050,858)** | **Total Long-Term Investments — 97.7%** <br>**(Cost: $390,050,858)** | 378213164 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 11.5%** | **Money Market Funds — 11.5%** | **Money Market Funds — 11.5%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 34392568 | 34416643 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 10030000 | 10030000 |
| **Total Short-Term Securities — 11.5%** <br>**(Cost: $44,430,262)** | **Total Short-Term Securities — 11.5%** <br>**(Cost: $44,430,262)** | 44446643 |
| **Total Investments — 109.2%** <br>**(Cost: $434,481,120)** | **Total Investments — 109.2%** <br>**(Cost: $434,481,120)** | 422659807 |
| **Liabilities in Excess of Other Assets — (9.2)%** | **Liabilities in Excess of Other Assets — (9.2)%** | (35479994)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $387179813 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(e)</sup> U.S. dollar denominated security issued by foreign domiciled entity.

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® USD Green Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $24038190<br> $10373751 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(1288)<br>| $5990 | $34416643 | 34392568 | $144880 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 2700000<br> 7330000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 10030000 | 10030000 | 222315 | &nbsp;&nbsp; — |
|  |  |  | $(1288)<br>| $5990 | $44446643 |  | $367195 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $297055435 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $297055435 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 79840907 | &nbsp;&nbsp; — | &nbsp;&nbsp; 79840907 |
| Municipal Debt Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 1316822 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1316822 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 44446643 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 44446643 |
|  | &nbsp;&nbsp; $44446643 | &nbsp;&nbsp; $378213164 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $422659807 |

---

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>0-5 Year <br> Investment Grade <br> Corporate Bond <br> ETF <br>| &nbsp;&nbsp; iShares <br>Aaa - A Rated <br> Corporate Bond <br> ETF <br>| &nbsp;&nbsp; iShares <br>BB Rated <br> Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Convertible Bond <br> ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $2082126587 | $1624043367 | $359491141 | $2203531247 |
| Investments, at value—affiliated<sup>(c)</sup> | 163652808 | 142512419 | 61252970 | 34298076 |
| Cash | 835405 | 5550 | 246061 | 9266 |
| Foreign currency, at value<sup>(d)</sup> |  |  | 19 |  |
| Receivables: |  |  |  |  |
| Investments sold |  | 14039830 | 6719231 | 23385581 |
| Securities lending income—affiliated | 24749 | 29570 | 15190 | 2311 |
| Capital shares sold | 50310 | 1100735 |  | 2978328 |
| Dividends—affiliated | 85782 | 17446 | 4496 | 87345 |
| Interest—unaffiliated | 20152789 | 17589658 | 5236581 | 9603177 |
| Total assets | 2266928430 | 1799338575 | 432965689 | 2273895331 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value | 139374187 | 138837693 | 60391289 | 2048562 |
| Payables: |  |  |  |  |
| Investments purchased | 11196467 | 8668201 | 5050803 | 15589743 |
| Capital shares redeemed |  |  |  | 56799 |
| Investment advisory fees | 106971 | 193969 | 78904 | 365652 |
| Total liabilities | 150677625 | 147699863 | 65520996 | 18060756 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $2116250805 | $1651638712 | $367444693 | $2255834575 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $2146818181 | $1766793309 | $371168948 | $2424202923 |
| Accumulated loss | (30567376) | (115154597) | (3724255) | (168368348) |
| NET ASSETS | $2116250805 | $1651638712 | $367444693 | $2255834575 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 42400000 | 34650000 | 7900000 | 26900000 |
| Net asset value | $49.91 | $47.67 | $46.51 | $83.86 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $2092169094 | $1706778548 | $355080587 | $2238926047 |
| <sup>(b)</sup> Securities loaned, at value | $134761471 | $133870306 | $58131455 | $1962586 |
| <sup>(c)</sup> Investments, at cost—affiliated | $163554940 | $142442059 | $61215786 | $34298075 |
| <sup>(d)</sup> Foreign currency, at cost | $— | $— | $18 | $— |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities (continued)

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Floating Rate Bond <br> ETF <br>| &nbsp;&nbsp; iShares <br>USD Green <br> Bond ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $7233467643 | $378213164 |
| Investments, at value—affiliated<sup>(c)</sup> | 463728177 | 44446643 |
| Cash | 1562391 | 5402 |
| Foreign currency, at value<sup>(d)</sup> |  | 5420 |
| Receivables: |  |  |
| Investments sold | 4140960 | 605359 |
| Securities lending income—affiliated | 177366 | 12852 |
| Capital shares sold | 1151449 | 393106 |
| Dividends—affiliated | 204087 | 21590 |
| Interest—unaffiliated | 53992913 | 3488573 |
| From custodian |  | 199675 |
| Total assets | 7758424986 | 427391784 |
| **LIABILITIES** |  |  |
| Collateral on securities loaned, at value | 407476240 | 34396945 |
| Payables: |  |  |
| Investments purchased | 25541258 | 5749815 |
| Capital shares redeemed | 355434 |  |
| Investment advisory fees | 937006 | 65211 |
| Total liabilities | 434309938 | 40211971 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $7324115048 | $387179813 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $7340434255 | $424089600 |
| Accumulated loss | (16319207) | (36909787) |
| NET ASSETS | $7324115048 | $387179813 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 143500000 | 8200000 |
| Net asset value | $51.04 | $47.22 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $7209891570 | $390050858 |
| <sup>(b)</sup> Securities loaned, at value | $397170630 | $33159524 |
| <sup>(c)</sup> Investments, at cost—affiliated | $463492984 | $44430262 |
| <sup>(d)</sup> Foreign currency, at cost | $— | $5340 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>0-5 Year <br> Investment <br> Grade <br> Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Aaa - A <br> Rated <br> Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>BB Rated <br> Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Convertible <br> Bond ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $767986 | &nbsp;&nbsp;&nbsp; $196315 | &nbsp;&nbsp;&nbsp; $73182 | &nbsp;&nbsp;&nbsp; $668653 |
| Interest—unaffiliated | &nbsp;&nbsp; 78210540 | &nbsp;&nbsp;&nbsp; 48178331 | &nbsp;&nbsp;&nbsp; 22752480 | &nbsp;&nbsp;&nbsp; 43157443 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 263571 | &nbsp;&nbsp;&nbsp; 270912 | &nbsp;&nbsp;&nbsp; 190734 | &nbsp;&nbsp;&nbsp; 3006 |
| Other income—unaffiliated | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 594 | &nbsp;&nbsp;&nbsp; — |
| Total investment income | &nbsp;&nbsp; 79242097 | &nbsp;&nbsp;&nbsp; 48645558 | &nbsp;&nbsp;&nbsp; 23016990 | &nbsp;&nbsp;&nbsp; 43829102 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 1291712 | &nbsp;&nbsp;&nbsp; 1730190 | &nbsp;&nbsp;&nbsp; 876370 | &nbsp;&nbsp;&nbsp; 3617350 |
| Interest expense | &nbsp;&nbsp; 757 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 1292469 | &nbsp;&nbsp;&nbsp; 1730190 | &nbsp;&nbsp;&nbsp; 876370 | &nbsp;&nbsp;&nbsp; 3617350 |
| Net investment income | &nbsp;&nbsp; 77949628 | &nbsp;&nbsp;&nbsp; 46915368 | &nbsp;&nbsp;&nbsp; 22140620 | &nbsp;&nbsp;&nbsp; 40211752 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (3767276)<br>| &nbsp;&nbsp;&nbsp; (12504598)<br>| &nbsp;&nbsp;&nbsp; (3087935)<br>| &nbsp;&nbsp;&nbsp; (21435527)<br>|
| Investments—affiliated | &nbsp;&nbsp; 14116 | &nbsp;&nbsp;&nbsp; (4821)<br>| &nbsp;&nbsp;&nbsp; (4732)<br>| &nbsp;&nbsp;&nbsp; (261)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; (5052672)<br>| &nbsp;&nbsp;&nbsp; 1006096 | &nbsp;&nbsp;&nbsp; 3003177 | &nbsp;&nbsp;&nbsp; 25557956 |
|  | &nbsp;&nbsp; (8805832)<br>| &nbsp;&nbsp;&nbsp; (11503323)<br>| &nbsp;&nbsp;&nbsp; (89490)<br>| &nbsp;&nbsp;&nbsp; 4122168 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 99158529 | &nbsp;&nbsp;&nbsp; 84841269 | &nbsp;&nbsp;&nbsp; 20912837 | &nbsp;&nbsp;&nbsp; 279192878 |
| Investments—affiliated | &nbsp;&nbsp; 19169 | &nbsp;&nbsp;&nbsp; 32690 | &nbsp;&nbsp;&nbsp; 17304 | &nbsp;&nbsp;&nbsp; (58)<br>|
|  | &nbsp;&nbsp; 99177698 | &nbsp;&nbsp;&nbsp; 84873959 | &nbsp;&nbsp;&nbsp; 20930141 | &nbsp;&nbsp;&nbsp; 279192820 |
| Net realized and unrealized gain | &nbsp;&nbsp; 90371866 | &nbsp;&nbsp;&nbsp; 73370636 | &nbsp;&nbsp;&nbsp; 20840651 | &nbsp;&nbsp;&nbsp; 283314988 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $168321494 | &nbsp;&nbsp;&nbsp; $120286004 | &nbsp;&nbsp;&nbsp; $42981271 | &nbsp;&nbsp;&nbsp; $323526740 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Operations (continued)

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>Floating Rate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>USD Green <br> Bond ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $2273848 | &nbsp;&nbsp;&nbsp; $222315 |
| Interest—unaffiliated | &nbsp;&nbsp; 446168503 | &nbsp;&nbsp;&nbsp; 14483902 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 1579451 | &nbsp;&nbsp;&nbsp; 144880 |
| Total investment income | &nbsp;&nbsp; 450021802 | &nbsp;&nbsp;&nbsp; 14851097 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 11092590 | &nbsp;&nbsp;&nbsp; 703264 |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9268 |
| Total expenses | &nbsp;&nbsp; 11092590 | &nbsp;&nbsp;&nbsp; 712532 |
| Net investment income | &nbsp;&nbsp; 438929212 | &nbsp;&nbsp;&nbsp; 14138565 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 1469439 | &nbsp;&nbsp;&nbsp; (4163583)<br>|
| Investments—affiliated | &nbsp;&nbsp; (1931)<br>| &nbsp;&nbsp;&nbsp; (1288)<br>|
| Foreign currency transactions | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (87)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 4008251 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 5475759 | &nbsp;&nbsp;&nbsp; (4164958)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 28096136 | &nbsp;&nbsp;&nbsp; 24373075 |
| Investments—affiliated | &nbsp;&nbsp; 128982 | &nbsp;&nbsp;&nbsp; 5990 |
| Foreign currency translations | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp; 28225118 | &nbsp;&nbsp;&nbsp; 24379302 |
| Net realized and unrealized gain | &nbsp;&nbsp; 33700877 | &nbsp;&nbsp;&nbsp; 20214344 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $472630089 | &nbsp;&nbsp;&nbsp; $34352909 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>0-5 Year Investment Grade Corporate Bond <br> ETF  | iShares <br>0-5 Year Investment Grade Corporate Bond <br> ETF  | iShares <br>Aaa - A Rated Corporate Bond ETF  | iShares <br>Aaa - A Rated Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $77949628 | &nbsp;&nbsp;&nbsp; $76466320 | &nbsp;&nbsp;&nbsp; $46915368 | &nbsp;&nbsp;&nbsp; $29714607 |
| Net realized loss | &nbsp;&nbsp; (8805832)<br>| &nbsp;&nbsp;&nbsp; (44419001)<br>| &nbsp;&nbsp;&nbsp; (11503323)<br>| &nbsp;&nbsp;&nbsp; (24863080)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 99177698 | &nbsp;&nbsp;&nbsp; 90176483 | &nbsp;&nbsp;&nbsp; 84873959 | &nbsp;&nbsp;&nbsp; 1813320 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 168321494 | &nbsp;&nbsp;&nbsp; 122223802 | &nbsp;&nbsp;&nbsp; 120286004 | &nbsp;&nbsp;&nbsp; 6664847 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (77435851)<br>| &nbsp;&nbsp;&nbsp; (77300294)<br>| &nbsp;&nbsp;&nbsp; (44695860)<br>| &nbsp;&nbsp;&nbsp; (28936173)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (211101215)<br>| &nbsp;&nbsp;&nbsp; (801263483)<br>| &nbsp;&nbsp;&nbsp; 654311045 | &nbsp;&nbsp;&nbsp; 170090302 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (120215572)<br>| &nbsp;&nbsp;&nbsp; (756339975)<br>| &nbsp;&nbsp;&nbsp; 729901189 | &nbsp;&nbsp;&nbsp; 147818976 |
| Beginning of year | &nbsp;&nbsp; 2236466377 | &nbsp;&nbsp;&nbsp; 2992806352 | &nbsp;&nbsp;&nbsp; 921737523 | &nbsp;&nbsp;&nbsp; 773918547 |
| End of year | &nbsp;&nbsp; $2116250805 | &nbsp;&nbsp;&nbsp; $2236466377 | &nbsp;&nbsp;&nbsp; $1651638712 | &nbsp;&nbsp;&nbsp; $921737523 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>BB Rated Corporate Bond ETF  | iShares <br>BB Rated Corporate Bond ETF  | iShares <br>Convertible Bond ETF  | iShares <br>Convertible Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $22140620 | &nbsp;&nbsp;&nbsp; $17489362 | &nbsp;&nbsp;&nbsp; $40211752 | &nbsp;&nbsp;&nbsp; $22610900 |
| Net realized gain (loss) | &nbsp;&nbsp; (89490)<br>| &nbsp;&nbsp;&nbsp; (29337)<br>| &nbsp;&nbsp;&nbsp; 4122168 | &nbsp;&nbsp;&nbsp; (64169747)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 20930141 | &nbsp;&nbsp;&nbsp; 463257 | &nbsp;&nbsp;&nbsp; 279192820 | &nbsp;&nbsp;&nbsp; 70996244 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 42981271 | &nbsp;&nbsp;&nbsp; 17923282 | &nbsp;&nbsp;&nbsp; 323526740 | &nbsp;&nbsp;&nbsp; 29437397 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (21573434)<br>| &nbsp;&nbsp;&nbsp; (17628446)<br>| &nbsp;&nbsp;&nbsp; (43434686)<br>| &nbsp;&nbsp;&nbsp; (27564389)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 82310282 | &nbsp;&nbsp;&nbsp; (66369031)<br>| &nbsp;&nbsp;&nbsp; 649811169 | &nbsp;&nbsp;&nbsp; (511786645)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 103718119 | &nbsp;&nbsp;&nbsp; (66074195)<br>| &nbsp;&nbsp;&nbsp; 929903223 | &nbsp;&nbsp;&nbsp; (509913637)<br>|
| Beginning of year | &nbsp;&nbsp; 263726574 | &nbsp;&nbsp;&nbsp; 329800769 | &nbsp;&nbsp;&nbsp; 1325931352 | &nbsp;&nbsp;&nbsp; 1835844989 |
| End of year | &nbsp;&nbsp; $367444693 | &nbsp;&nbsp;&nbsp; $263726574 | &nbsp;&nbsp;&nbsp; $2255834575 | &nbsp;&nbsp;&nbsp; $1325931352 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Floating Rate Bond ETF  | iShares <br>Floating Rate Bond ETF  | iShares <br>USD Green Bond ETF  | iShares <br>USD Green Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $438929212 | &nbsp;&nbsp;&nbsp; $412767037 | &nbsp;&nbsp;&nbsp; $14138565 | &nbsp;&nbsp;&nbsp; $10797751 |
| Net realized gain (loss) | &nbsp;&nbsp; 5475759 | &nbsp;&nbsp;&nbsp; (4442346)<br>| &nbsp;&nbsp;&nbsp; (4164958)<br>| &nbsp;&nbsp;&nbsp; (5948490)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 28225118 | &nbsp;&nbsp;&nbsp; 77638886 | &nbsp;&nbsp;&nbsp; 24379302 | &nbsp;&nbsp;&nbsp; 1549016 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 472630089 | &nbsp;&nbsp;&nbsp; 485963577 | &nbsp;&nbsp;&nbsp; 34352909 | &nbsp;&nbsp;&nbsp; 6398277 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (442137238)<br>| &nbsp;&nbsp;&nbsp; (412010948)<br>| &nbsp;&nbsp;&nbsp; (13841560)<br>| &nbsp;&nbsp;&nbsp; (10668908)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (282310163)<br>| &nbsp;&nbsp;&nbsp; (1675535432)<br>| &nbsp;&nbsp;&nbsp; 51716173 | &nbsp;&nbsp;&nbsp; 39376930 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (251817312)<br>| &nbsp;&nbsp;&nbsp; (1601582803)<br>| &nbsp;&nbsp;&nbsp; 72227522 | &nbsp;&nbsp;&nbsp; 35106299 |
| Beginning of year | &nbsp;&nbsp; 7575932360 | &nbsp;&nbsp;&nbsp; 9177515163 | &nbsp;&nbsp;&nbsp; 314952291 | &nbsp;&nbsp;&nbsp; 279845992 |
| End of year | &nbsp;&nbsp; $7324115048 | &nbsp;&nbsp;&nbsp; $7575932360 | &nbsp;&nbsp;&nbsp; $387179813 | &nbsp;&nbsp;&nbsp; $314952291 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares 0-5 Year Investment Grade Corporate Bond ETF  | iShares 0-5 Year Investment Grade Corporate Bond ETF  | iShares 0-5 Year Investment Grade Corporate Bond ETF  | iShares 0-5 Year Investment Grade Corporate Bond ETF  | iShares 0-5 Year Investment Grade Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $47.89 | &nbsp;&nbsp;&nbsp; $47.24 | &nbsp;&nbsp;&nbsp; $51.36 | &nbsp;&nbsp;&nbsp; $52.01 | &nbsp;&nbsp;&nbsp; $51.17 |
| Net investment income<sup>(a)</sup> | 1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.27 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp; (4.09)<br>| &nbsp;&nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.90 |
| Net increase (decrease) from investment operations | 3.79 | &nbsp;&nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;&nbsp; (3.23)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;2.17 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.77)<br>| &nbsp;&nbsp;&nbsp; (1.38)<br>| &nbsp;&nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp;&nbsp; (1.32)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>|
| Total distributions | &nbsp;&nbsp; (1.77)<br>| &nbsp;&nbsp;&nbsp; (1.38)<br>| &nbsp;&nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp;&nbsp; (1.33)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $49.91 | &nbsp;&nbsp;&nbsp; $47.89 | &nbsp;&nbsp;&nbsp; $47.24 | &nbsp;&nbsp;&nbsp; $51.36 | &nbsp;&nbsp;&nbsp; $52.01 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 8.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.32<br> %<br>| &nbsp;&nbsp;&nbsp; (6.35)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.31<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>|
| Net investment income | 3.62<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.54<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.48<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2116251 | &nbsp;&nbsp;&nbsp; $2236466 | &nbsp;&nbsp;&nbsp; $2992806 | &nbsp;&nbsp;&nbsp; $2521896 | &nbsp;&nbsp;&nbsp; $2062138 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 29<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Aaa - A Rated Corporate Bond ETF  | iShares Aaa - A Rated Corporate Bond ETF  | iShares Aaa - A Rated Corporate Bond ETF  | iShares Aaa - A Rated Corporate Bond ETF  | iShares Aaa - A Rated Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $44.10 | &nbsp;&nbsp;&nbsp; $44.74 | &nbsp;&nbsp;&nbsp; $56.49 | &nbsp;&nbsp;&nbsp; $57.46 | &nbsp;&nbsp;&nbsp; $54.85 |
| Net investment income<sup>(a)</sup> | 1.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.35 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 3.51 | &nbsp;&nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp;&nbsp; (11.75)<br>| &nbsp;&nbsp;&nbsp; (0.91)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.68 |
| Net increase (decrease) from investment operations | 5.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp; (10.55)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;4.03 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.87)<br>| &nbsp;&nbsp;&nbsp; (1.55)<br>| &nbsp;&nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp;&nbsp; (1.42)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (1.87)<br>| &nbsp;&nbsp;&nbsp; (1.55)<br>| &nbsp;&nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp;&nbsp; (1.42)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $47.67 | &nbsp;&nbsp;&nbsp; $44.10 | &nbsp;&nbsp;&nbsp; $44.74 | &nbsp;&nbsp;&nbsp; $56.49 | &nbsp;&nbsp;&nbsp; $57.46 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 12.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.92<br> %<br>| &nbsp;&nbsp;&nbsp; (18.93)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.44<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>|
| Net investment income | 4.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.93<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.37<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $1651639 | &nbsp;&nbsp;&nbsp; $921738 | &nbsp;&nbsp;&nbsp; $773919 | &nbsp;&nbsp;&nbsp; $1186345 | &nbsp;&nbsp;&nbsp; $1485423 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 14<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares BB Rated Corporate Bond ETF  | iShares BB Rated Corporate Bond ETF  | iShares BB Rated Corporate Bond ETF  | iShares BB Rated Corporate Bond ETF  | iShares BB Rated Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Period From <br>10/06/20<sup>(a)</sup> <br>to 10/31/20<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $43.23 | &nbsp;&nbsp;&nbsp; $43.97 | &nbsp;&nbsp;&nbsp; $52.01 | &nbsp;&nbsp;&nbsp; $49.76 | &nbsp;&nbsp;&nbsp; $50.00 |
| Net investment income<sup>(b)</sup> | 2.90 | &nbsp;&nbsp;&nbsp;&nbsp;2.78 | &nbsp;&nbsp;&nbsp;&nbsp;2.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 3.21 | &nbsp;&nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp;&nbsp; (8.04)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.25 | &nbsp;&nbsp;&nbsp; (0.36)<br>|
| Net increase (decrease) from investment operations | 6.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp; (5.76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.14 | &nbsp;&nbsp;&nbsp; (0.24)<br>|
| **Distributions**<sup>(d)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (2.83)<br>| &nbsp;&nbsp;&nbsp; (2.83)<br>| &nbsp;&nbsp;&nbsp; (2.12)<br>| &nbsp;&nbsp;&nbsp; (1.89)<br>| &nbsp;&nbsp;&nbsp; — |
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (2.83)<br>| &nbsp;&nbsp;&nbsp; (2.83)<br>| &nbsp;&nbsp;&nbsp; (2.28)<br>| &nbsp;&nbsp;&nbsp; (1.89)<br>| &nbsp;&nbsp;&nbsp; — |
| **Net asset value, end of period** | &nbsp;&nbsp; $46.51 | &nbsp;&nbsp;&nbsp; $43.23 | &nbsp;&nbsp;&nbsp; $43.97 | &nbsp;&nbsp;&nbsp; $52.01 | &nbsp;&nbsp;&nbsp; $49.76 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 14.44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.75<br> %<br>| &nbsp;&nbsp;&nbsp; (11.30)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.39<br> %<br>| &nbsp;&nbsp;&nbsp; (0.48 )%<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15 %<sup>(h)</sup><br>|
| Net investment income | 6.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.92<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.64<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.36 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $367445 | &nbsp;&nbsp;&nbsp; $263727 | &nbsp;&nbsp;&nbsp; $329801 | &nbsp;&nbsp;&nbsp; $93611 | &nbsp;&nbsp;&nbsp; $72151 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 37<br> %<br>| &nbsp;&nbsp;&nbsp; 22<br> %<br>| &nbsp;&nbsp;&nbsp; 21<br> %<br>| &nbsp;&nbsp;&nbsp; 32<br> %<br>| &nbsp;&nbsp;&nbsp; 0 %<sup>(j)</sup><br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |
| <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Convertible Bond ETF  | iShares Convertible Bond ETF  | iShares Convertible Bond ETF  | iShares Convertible Bond ETF  | iShares Convertible Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $71.10 | &nbsp;&nbsp;&nbsp; $70.75 | &nbsp;&nbsp;&nbsp; $102.26 | &nbsp;&nbsp;&nbsp; $80.71 | &nbsp;&nbsp;&nbsp; $59.07 |
| Net investment income<sup>(a)</sup> | 1.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 12.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp; (25.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;24.52 | &nbsp;&nbsp;&nbsp;&nbsp;21.90 |
| Net increase (decrease) from investment operations | 14.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp; (24.36)<br>| &nbsp;&nbsp;&nbsp;&nbsp;25.27 | &nbsp;&nbsp;&nbsp;&nbsp;22.76 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp;&nbsp; (1.33)<br>| &nbsp;&nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp;&nbsp; (1.12)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (5.85)<br>| &nbsp;&nbsp;&nbsp; (2.75)<br>| &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp;&nbsp; (1.33)<br>| &nbsp;&nbsp;&nbsp; (7.15)<br>| &nbsp;&nbsp;&nbsp; (3.72)<br>| &nbsp;&nbsp;&nbsp; (1.12)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $83.86 | &nbsp;&nbsp;&nbsp; $71.10 | &nbsp;&nbsp;&nbsp; $70.75 | &nbsp;&nbsp;&nbsp; $102.26 | &nbsp;&nbsp;&nbsp; $80.71 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 20.91<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.35<br> %<br>| &nbsp;&nbsp;&nbsp; (25.08)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.91<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 39.02<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>|
| Net investment income | 2.22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.61<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.24<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2255835 | &nbsp;&nbsp;&nbsp; $1325931 | &nbsp;&nbsp;&nbsp; $1835845 | &nbsp;&nbsp;&nbsp; $1907198 | &nbsp;&nbsp;&nbsp; $851507 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp;&nbsp; 22<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 46<br> %<br>| &nbsp;&nbsp;&nbsp; 33<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Floating Rate Bond ETF  | iShares Floating Rate Bond ETF  | iShares Floating Rate Bond ETF  | iShares Floating Rate Bond ETF  | iShares Floating Rate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $50.81 | &nbsp;&nbsp;&nbsp; $50.32 | &nbsp;&nbsp;&nbsp; $50.74 | &nbsp;&nbsp;&nbsp; $50.70 | &nbsp;&nbsp;&nbsp; $50.98 |
| Net investment income<sup>(a)</sup> | 3.02 | &nbsp;&nbsp;&nbsp;&nbsp;2.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 0.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp; (0.24)<br>|
| Net increase from investment operations | 3.26 | &nbsp;&nbsp;&nbsp;&nbsp;3.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (3.03)<br>| &nbsp;&nbsp;&nbsp; (2.67)<br>| &nbsp;&nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp;&nbsp; (0.87)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $51.04 | &nbsp;&nbsp;&nbsp; $50.81 | &nbsp;&nbsp;&nbsp; $50.32 | &nbsp;&nbsp;&nbsp; $50.74 | &nbsp;&nbsp;&nbsp; $50.70 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 6.61<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.21<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.19<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>|
| Net investment income | 5.94<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.46<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.64<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $7324115 | &nbsp;&nbsp;&nbsp; $7575932 | &nbsp;&nbsp;&nbsp; $9177515 | &nbsp;&nbsp;&nbsp; $7001546 | &nbsp;&nbsp;&nbsp; $5592224 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 37<br> %<br>| &nbsp;&nbsp;&nbsp; 37<br> %<br>| &nbsp;&nbsp;&nbsp; 39<br> %<br>| &nbsp;&nbsp;&nbsp; 38<br> %<br>| &nbsp;&nbsp;&nbsp; 29<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares USD Green Bond ETF  | iShares USD Green Bond ETF  | iShares USD Green Bond ETF  | iShares USD Green Bond ETF  | iShares USD Green Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $44.36 | &nbsp;&nbsp;&nbsp; $44.78 | &nbsp;&nbsp;&nbsp; $54.46 | &nbsp;&nbsp;&nbsp; $55.61 | &nbsp;&nbsp;&nbsp; $55.00 |
| Net investment income<sup>(a)</sup> | 1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.83 | &nbsp;&nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp;&nbsp; (9.49)<br>| &nbsp;&nbsp;&nbsp; (1.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.10 |
| Net increase (decrease) from investment operations | 4.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp; (8.43)<br>| &nbsp;&nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.59 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.85)<br>| &nbsp;&nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp;&nbsp; (1.64)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.34)<br>|
| Total distributions | &nbsp;&nbsp; (1.85)<br>| &nbsp;&nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp;&nbsp; (1.98)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $47.22 | &nbsp;&nbsp;&nbsp; $44.36 | &nbsp;&nbsp;&nbsp; $44.78 | &nbsp;&nbsp;&nbsp; $54.46 | &nbsp;&nbsp;&nbsp; $55.61 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 10.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.59<br> %<br>| &nbsp;&nbsp;&nbsp; (15.69)%<br>| &nbsp;&nbsp;&nbsp; (1.82)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.89 %<sup>(e)</sup><br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.21<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>|
| Total expenses after fees waived | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>|
| Net investment income | 4.02<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.53<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.13<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $387180 | &nbsp;&nbsp;&nbsp; $314952 | &nbsp;&nbsp;&nbsp; $279846 | &nbsp;&nbsp;&nbsp; $236907 | &nbsp;&nbsp;&nbsp; $133471 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 21<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 94<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; Diversified |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; Diversified |
| BB Rated Corporate Bond | &nbsp;&nbsp; Diversified |
| Convertible Bond | &nbsp;&nbsp; Diversified |
| Floating Rate Bond | &nbsp;&nbsp; Diversified |
| USD Green Bond | &nbsp;&nbsp; Diversified |

---

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis. For convertible securities, premiums attributable to the debt instrument are amortized, but premiums attributable to the conversion feature are not amortized.

**Foreign Currency Translation:** Certain Funds' books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Certain Funds do not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. SECURITIES AND OTHER INVESTMENTS***

**Zero-Coupon Bonds:** Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| 0-5 Year Investment Grade Corporate Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $26013656 | &nbsp;&nbsp;&nbsp; $(26013656) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 1130166 | &nbsp;&nbsp;&nbsp; (1130166) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 14441869 | &nbsp;&nbsp;&nbsp; (14441869) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 10321492 | &nbsp;&nbsp;&nbsp; (10321492) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 164303 | &nbsp;&nbsp;&nbsp; (164303) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 2554121 | &nbsp;&nbsp;&nbsp; (2554121) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 3970362 | &nbsp;&nbsp;&nbsp; (3970362) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 4966383 | &nbsp;&nbsp;&nbsp; (4966383) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 2239715 | &nbsp;&nbsp;&nbsp; (2239715) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 38618214 | &nbsp;&nbsp;&nbsp; (38618214) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 314495 | &nbsp;&nbsp;&nbsp; (314495) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 19509510 | &nbsp;&nbsp;&nbsp; (19509510) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 4401282 | &nbsp;&nbsp;&nbsp; (4401282) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 2531978 | &nbsp;&nbsp;&nbsp; (2531978) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 259627 | &nbsp;&nbsp;&nbsp; (259627) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 2000668 | &nbsp;&nbsp;&nbsp; (2000668) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 547319 | &nbsp;&nbsp;&nbsp; (547319) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 776311 | &nbsp;&nbsp;&nbsp; (776311) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $134761471 | &nbsp;&nbsp;&nbsp; $(134761471) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| Aaa - A Rated Corporate Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $31740313 | &nbsp;&nbsp;&nbsp; $(31740313) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 3496912 | &nbsp;&nbsp;&nbsp; (3496912) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 2831823 | &nbsp;&nbsp;&nbsp; (2831823) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 29377818 | &nbsp;&nbsp;&nbsp; (29377818) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 3649890 | &nbsp;&nbsp;&nbsp; (3649890) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1979981 | &nbsp;&nbsp;&nbsp; (1979981) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 4556693 | &nbsp;&nbsp;&nbsp; (4556693) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 3405441 | &nbsp;&nbsp;&nbsp; (3405441) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 1588790 | &nbsp;&nbsp;&nbsp; (1588790) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 24443067 | &nbsp;&nbsp;&nbsp; (24443067) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 917310 | &nbsp;&nbsp;&nbsp; (917310) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 9185814 | &nbsp;&nbsp;&nbsp; (9185814) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 1111782 | &nbsp;&nbsp;&nbsp; (1111782) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 2092583 | &nbsp;&nbsp;&nbsp; (2092583) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 5111426 | &nbsp;&nbsp;&nbsp; (5111426) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 991904 | &nbsp;&nbsp;&nbsp; (991904) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 1957366 | &nbsp;&nbsp;&nbsp; (1957366) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 444405 | &nbsp;&nbsp;&nbsp; (444405) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 1815772 | &nbsp;&nbsp;&nbsp; (1815772) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 172140 | &nbsp;&nbsp;&nbsp; (172140) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 2999076 | &nbsp;&nbsp;&nbsp; (2999076) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $133870306 | &nbsp;&nbsp;&nbsp; $(133870306) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BB Rated Corporate Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $8292932 | &nbsp;&nbsp;&nbsp; $(8292932) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 2451254 | &nbsp;&nbsp;&nbsp; (2451254) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 1423404 | &nbsp;&nbsp;&nbsp; (1423404) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 11445815 | &nbsp;&nbsp;&nbsp; (11445815) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 2130065 | &nbsp;&nbsp;&nbsp; (2130065) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 2002 | &nbsp;&nbsp;&nbsp; (2002) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 485455 | &nbsp;&nbsp;&nbsp; (485455) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 11603668 | &nbsp;&nbsp;&nbsp; (11603668) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 933967 | &nbsp;&nbsp;&nbsp; (933967) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 1243433 | &nbsp;&nbsp;&nbsp; (1243433) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 459746 | &nbsp;&nbsp;&nbsp; (459746) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 3907370 | &nbsp;&nbsp;&nbsp; (3907370) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 2812142 | &nbsp;&nbsp;&nbsp; (2812142) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 7031033 | &nbsp;&nbsp;&nbsp; (7031033) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 222690 | &nbsp;&nbsp;&nbsp; (222690) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 79195 | &nbsp;&nbsp;&nbsp; (79195) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 1297443 | &nbsp;&nbsp;&nbsp; (1297443) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank, National Association | &nbsp;&nbsp; 751760 | &nbsp;&nbsp;&nbsp; (751760) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 1558081 | &nbsp;&nbsp;&nbsp; (1558081) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $58131455 | &nbsp;&nbsp;&nbsp; $(58131455) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Convertible Bond |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $1885778 | &nbsp;&nbsp;&nbsp; $(1885778) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| State Street Bank & Trust Co | &nbsp;&nbsp; 76808 | &nbsp;&nbsp;&nbsp; (76808) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $1962586 | &nbsp;&nbsp;&nbsp; $(1962586) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| Floating Rate Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $71072553 | &nbsp;&nbsp;&nbsp; $(71072553) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 7034209 | &nbsp;&nbsp;&nbsp; (7034209) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 54332082 | &nbsp;&nbsp;&nbsp; (54332082) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 3972919 | &nbsp;&nbsp;&nbsp; (3972919) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 13369521 | &nbsp;&nbsp;&nbsp; (13369521) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 59659556 | &nbsp;&nbsp;&nbsp; (59659556) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 6820817 | &nbsp;&nbsp;&nbsp; (6820817) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 4353535 | &nbsp;&nbsp;&nbsp; (4353535) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 83883734 | &nbsp;&nbsp;&nbsp; (83883734) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 499798 | &nbsp;&nbsp;&nbsp; (499798) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 29374379 | &nbsp;&nbsp;&nbsp; (29374379) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 42255964 | &nbsp;&nbsp;&nbsp; (42255964) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 4972193 | &nbsp;&nbsp;&nbsp; (4972193) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 9491901 | &nbsp;&nbsp;&nbsp; (9491901) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 1002250 | &nbsp;&nbsp;&nbsp; (1002250) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 809978 | &nbsp;&nbsp;&nbsp; (809978) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 4265241 | &nbsp;&nbsp;&nbsp; (4265241) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $397170630 | &nbsp;&nbsp;&nbsp; $(397170630) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| USD Green Bond |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $8941007 | &nbsp;&nbsp;&nbsp; $(8941007) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 752380 | &nbsp;&nbsp;&nbsp; (752380) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 205203 | &nbsp;&nbsp;&nbsp; (205203) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 2743840 | &nbsp;&nbsp;&nbsp; (2743840) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1228846 | &nbsp;&nbsp;&nbsp; (1228846) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 8829569 | &nbsp;&nbsp;&nbsp; (8829569) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 504391 | &nbsp;&nbsp;&nbsp; (504391) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 3962249 | &nbsp;&nbsp;&nbsp; (3962249) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 1467814 | &nbsp;&nbsp;&nbsp; (1467814) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 502537 | &nbsp;&nbsp;&nbsp; (502537) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 4021688 | &nbsp;&nbsp;&nbsp; (4021688) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $33159524 | &nbsp;&nbsp;&nbsp; $(33159524) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| 0-5 Year Investment Grade Corporate Bond | 0.06% |
| Aaa - A Rated Corporate Bond | 0.15 |
| BB Rated Corporate Bond | 0.25 |
| Convertible Bond | 0.20 |
| Floating Rate Bond | 0.15 |
| USD Green Bond | 0.20 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Sub-Adviser:** BFA has entered into separate sub-advisory agreements with BlackRock International Limited and BlackRock (Singapore) Limited (together the "Sub-Advisers"), both affiliates of BFA, under which BFA pays each of the Sub-Advisers for services it provides to the iShares USD Green Bond ETF. Effective March 4, 2022, the sub-advisory agreement between BFA and BlackRock (Singapore) Limited was terminated.

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 08, 2024 (date of conversion for iShares Floating Rate Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

Prior to January 26, 2024 (date of conversion for iShares 0-5 Year Investment Grade Corporate Bond ETF, iShares Aaa - A Rated Corporate Bond ETF, iShares BB Rated Corporate Bond ETF, iShares Convertible Bond ETF and iShares USD Green Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $96346 |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 94057 |
| BB Rated Corporate Bond | &nbsp;&nbsp; 63092 |
| Convertible Bond | &nbsp;&nbsp; 860 |
| Floating Rate Bond | &nbsp;&nbsp; 467753 |
| USD Green Bond | &nbsp;&nbsp; 40752 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $497106195 | &nbsp;&nbsp;&nbsp; $498165356 |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 188429940 | &nbsp;&nbsp;&nbsp; 188343005 |
| BB Rated Corporate Bond | &nbsp;&nbsp; 128491474 | &nbsp;&nbsp;&nbsp; 131586993 |
| Convertible Bond | &nbsp;&nbsp; 454307667 | &nbsp;&nbsp;&nbsp; 448480831 |
| Floating Rate Bond | &nbsp;&nbsp; 2892244241 | &nbsp;&nbsp;&nbsp; 2711147408 |
| USD Green Bond | &nbsp;&nbsp; 75369733 | &nbsp;&nbsp;&nbsp; 73464058 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $338484288 | &nbsp;&nbsp;&nbsp; $543841450 |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 777585627 | &nbsp;&nbsp;&nbsp; 138960562 |
| BB Rated Corporate Bond | &nbsp;&nbsp; 141500867 | &nbsp;&nbsp;&nbsp; 61315586 |
| Convertible Bond | &nbsp;&nbsp; 885148618 | &nbsp;&nbsp;&nbsp; 259124195 |
| Floating Rate Bond | &nbsp;&nbsp; 566589603 | &nbsp;&nbsp;&nbsp; 959604996 |
| USD Green Bond | &nbsp;&nbsp; 45163768 | &nbsp;&nbsp;&nbsp; — |

---

***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $(5058838) | &nbsp;&nbsp;&nbsp; $5058838 |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 1002452 | &nbsp;&nbsp;&nbsp; (1002452) |
| BB Rated Corporate Bond | &nbsp;&nbsp; 3001745 | &nbsp;&nbsp;&nbsp; (3001745) |
| Convertible Bond | &nbsp;&nbsp; 25227799 | &nbsp;&nbsp;&nbsp; (25227799) |
| Floating Rate Bond | &nbsp;&nbsp; 3949143 | &nbsp;&nbsp;&nbsp; (3949143) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| 0-5 Year Investment Grade Corporate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $77435851 | &nbsp;&nbsp;&nbsp; $77300294 |
| Aaa - A Rated Corporate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $44695860 | &nbsp;&nbsp;&nbsp; $28936173 |
| BB Rated Corporate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $21573434 | &nbsp;&nbsp;&nbsp; $17628446 |
| Convertible Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $43434686 | &nbsp;&nbsp;&nbsp; $27564389 |
| Floating Rate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $442137238 | &nbsp;&nbsp;&nbsp; $412010948 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended*<br> *10/31/24*<br>| &nbsp;&nbsp; *Year Ended*<br> *10/31/23*<br>|
| USD Green Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $13841560 | &nbsp;&nbsp;&nbsp; $10668908 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $6916619 | &nbsp;&nbsp;&nbsp; $(26371696) | &nbsp;&nbsp;&nbsp; $(11112299) | &nbsp;&nbsp;&nbsp; $(30567376) |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 5516372 | &nbsp;&nbsp;&nbsp; (37358230) | &nbsp;&nbsp;&nbsp; (83312739) | &nbsp;&nbsp;&nbsp; (115154597) |
| BB Rated Corporate Bond | &nbsp;&nbsp; 1968441 | &nbsp;&nbsp;&nbsp; (9947027) | &nbsp;&nbsp;&nbsp; 4254331 | &nbsp;&nbsp;&nbsp; (3724255) |
| Convertible Bond | &nbsp;&nbsp; 7529852 | &nbsp;&nbsp;&nbsp; (133530558) | &nbsp;&nbsp;&nbsp; (42367642) | &nbsp;&nbsp;&nbsp; (168368348) |
| Floating Rate Bond | &nbsp;&nbsp; 35388230 | &nbsp;&nbsp;&nbsp; (74842200) | &nbsp;&nbsp;&nbsp; 23134763 | &nbsp;&nbsp;&nbsp; (16319207) |
| USD Green Bond | &nbsp;&nbsp; 1370120 | &nbsp;&nbsp;&nbsp; (26193534) | &nbsp;&nbsp;&nbsp; (12086373) | &nbsp;&nbsp;&nbsp; (36909787) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, amortization methods for premiums and discounts on fixed income securities, the classification of investments, dividends deemed recognized for tax purposes and the timing and recognition of realized gains/losses for tax purposes. 

For the year ended October 31, 2024, the iShares Floating Rate Bond ETF utilized $1,187,285 of its capital loss carryforwards.

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $2256891694 | &nbsp;&nbsp;&nbsp; $12910320 | &nbsp;&nbsp;&nbsp; $(24022619) | &nbsp;&nbsp;&nbsp; $(11112299) |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 1849868525 | &nbsp;&nbsp;&nbsp; 5790390 | &nbsp;&nbsp;&nbsp; (89103129) | &nbsp;&nbsp;&nbsp; (83312739) |
| BB Rated Corporate Bond | &nbsp;&nbsp; 416489780 | &nbsp;&nbsp;&nbsp; 5694382 | &nbsp;&nbsp;&nbsp; (1440051) | &nbsp;&nbsp;&nbsp; 4254331 |
| Convertible Bond | &nbsp;&nbsp; 2280196965 | &nbsp;&nbsp;&nbsp; 162073790 | &nbsp;&nbsp;&nbsp; (204441432) | &nbsp;&nbsp;&nbsp; (42367642) |
| Floating Rate Bond | &nbsp;&nbsp; 7674061057 | &nbsp;&nbsp;&nbsp; 23768733 | &nbsp;&nbsp;&nbsp; (633970) | &nbsp;&nbsp;&nbsp; 23134763 |
| USD Green Bond | &nbsp;&nbsp; 434746260 | &nbsp;&nbsp;&nbsp; 1990432 | &nbsp;&nbsp;&nbsp; (14076885) | &nbsp;&nbsp;&nbsp; (12086453) |

---

***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer's ability to make payments of principal and/or interest or otherwise affect the value of such securities. Municipal securities can be significantly affected by political or economic changes, including changes made in the law after issuance of the securities, as well as uncertainties in the municipal market related to, taxation, legislative changes or the rights of municipal security holders, including in connection with an issuer insolvency. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the tax benefits

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

supporting the project or assets or the inability to collect revenues for the project or from the assets. Municipal securities may be less liquid than taxable bonds, and there may be less publicly available information on the financial condition of municipal security issuers than for issuers of other securities.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

Certain Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund's portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund's investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund's portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.

Certain Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as "junk bonds") or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

Certain Funds invest a significant portion of their assets within the financials sector. Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, changes in government regulations, economic conditions, and interest rates, credit rating downgrades, adverse public perception, exposure concentration and decreased liquidity in credit markets. The impact of changes in capital requirements and recent or future regulation on any individual financial company, or on the financials sector as a whole, cannot be predicted, but may negatively impact the Funds.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| 0-5 Year Investment Grade Corporate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp;&nbsp; $348537894 | &nbsp;&nbsp;&nbsp; 9750000 | &nbsp;&nbsp;&nbsp; $468137257 |
| Shares redeemed | &nbsp;&nbsp; (11400000)<br>| &nbsp;&nbsp;&nbsp; (559639109)<br>| &nbsp;&nbsp;&nbsp; (26400000)<br>| &nbsp;&nbsp;&nbsp; (1269400740)<br>|
|  | &nbsp;&nbsp; (4300000)<br>| &nbsp;&nbsp;&nbsp; $(211101215)<br>| &nbsp;&nbsp;&nbsp; (16650000)<br>| &nbsp;&nbsp;&nbsp; $(801263483)<br>|
| Aaa - A Rated Corporate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 16800000 | &nbsp;&nbsp;&nbsp; $798158384 | &nbsp;&nbsp;&nbsp; 7650000 | &nbsp;&nbsp;&nbsp; $359682702 |
| Shares redeemed | &nbsp;&nbsp; (3050000)<br>| &nbsp;&nbsp;&nbsp; (143847339)<br>| &nbsp;&nbsp;&nbsp; (4050000)<br>| &nbsp;&nbsp;&nbsp; (189592400)<br>|
|  | &nbsp;&nbsp; 13750000 | &nbsp;&nbsp;&nbsp; $654311045 | &nbsp;&nbsp;&nbsp; 3600000 | &nbsp;&nbsp;&nbsp; $170090302 |
| BB Rated Corporate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp; $144969328 | &nbsp;&nbsp;&nbsp; 2650000 | &nbsp;&nbsp;&nbsp; $116402308 |
| Shares redeemed | &nbsp;&nbsp; (1350000)<br>| &nbsp;&nbsp;&nbsp; (62659046)<br>| &nbsp;&nbsp;&nbsp; (4050000)<br>| &nbsp;&nbsp;&nbsp; (182771339)<br>|
|  | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp; $82310282 | &nbsp;&nbsp;&nbsp; (1400000)<br>| &nbsp;&nbsp;&nbsp; $(66369031)<br>|
| Convertible Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 11600000 | &nbsp;&nbsp;&nbsp; $912566445 | &nbsp;&nbsp;&nbsp; 6050000 | &nbsp;&nbsp;&nbsp; $451742482 |
| Shares redeemed | &nbsp;&nbsp; (3350000)<br>| &nbsp;&nbsp;&nbsp; (262755276)<br>| &nbsp;&nbsp;&nbsp; (13350000)<br>| &nbsp;&nbsp;&nbsp; (963529127)<br>|
|  | &nbsp;&nbsp; 8250000 | &nbsp;&nbsp;&nbsp; $649811169 | &nbsp;&nbsp;&nbsp; (7300000)<br>| &nbsp;&nbsp;&nbsp; $(511786645)<br>|
| Floating Rate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 13700000 | &nbsp;&nbsp;&nbsp; $697112873 | &nbsp;&nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp; $809394429 |
| Shares redeemed | &nbsp;&nbsp; (19300000)<br>| &nbsp;&nbsp;&nbsp; (979423036)<br>| &nbsp;&nbsp;&nbsp; (49300000)<br>| &nbsp;&nbsp;&nbsp; (2484929861)<br>|
|  | &nbsp;&nbsp; (5600000)<br>| &nbsp;&nbsp;&nbsp; $(282310163)<br>| &nbsp;&nbsp;&nbsp; (33300000)<br>| &nbsp;&nbsp;&nbsp; $(1675535432)<br>|
| USD Green Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp; $51716173 | &nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; $39376930 |

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the six funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (six of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations for the year ended October 31, 2024, the statements of changes in net assets for each of the two years in the period ended October 31, 2024, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2024 and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

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| |
|:---|
| iShares 0-5 Year Investment Grade Corporate Bond ETF |
| iShares Aaa - A Rated Corporate Bond ETF |
| iShares BB Rated Corporate Bond ETF |
| iShares Convertible Bond ETF |
| iShares Floating Rate Bond ETF |
| iShares USD Green Bond ETF |

---

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

------

Important Tax Information (unaudited)

The following amount, or maximum amount allowable by law, is hereby designated as qualified dividend income for individuals for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| Convertible Bond | &nbsp;&nbsp; $3393048 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>|
| Floating Rate Bond | &nbsp;&nbsp; $187781082 |
| USD Green Bond | &nbsp;&nbsp; 8242612 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $2749 |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 31032 |
| BB Rated Corporate Bond | &nbsp;&nbsp; 11568 |
| Convertible Bond | &nbsp;&nbsp; 97645 |
| Floating Rate Bond | &nbsp;&nbsp; 350164 |
| USD Green Bond | &nbsp;&nbsp; 33320 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The following percentage, or maximum percentage allowable by law, of ordinary income distributions paid during the fiscal year ended October 31, 2024 qualified for the dividends-received deduction for corporate shareholders:

---

| | |
|:---|:---|
| *iShares ETF* | *Dividends-Received* <br>*Deduction*<br>|
| Convertible Bond | 7.78<br> %<br>|

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $77463340 |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 46802644 |
| BB Rated Corporate Bond | &nbsp;&nbsp; 22048825 |
| Convertible Bond | &nbsp;&nbsp; 41380090 |
| Floating Rate Bond | &nbsp;&nbsp; 436501858 |
| USD Green Bond | &nbsp;&nbsp; 14011829 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| 0-5 Year Investment Grade Corporate Bond | &nbsp;&nbsp; $63488624 |
| Aaa - A Rated Corporate Bond | &nbsp;&nbsp; 38809737 |
| BB Rated Corporate Bond | &nbsp;&nbsp; 18561008 |
| Convertible Bond | &nbsp;&nbsp; 37327571 |
| Floating Rate Bond | &nbsp;&nbsp; 260464834 |
| USD Green Bond | &nbsp;&nbsp; 6233137 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares 0-5 Year Investment Grade Corporate Bond ETF, iShares Aaa - A Rated Corporate Bond ETF, iShares BB Rated Corporate Bond ETF, iShares Convertible Bond ETF, iShares Floating Rate Bond ETF**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares USD Green Bond ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement"), and the Sub-Advisory Agreement between BFA and BlackRock International Limited, (together the "Advisory Agreements"), on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreements. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreements for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreements for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA and BlackRock International Limited; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreements are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds. The Board further noted that BFA pays BlackRock International Limited for sub-advisory services, and that there are no additional fees imposed on the Fund in respect of the services provided under the Sub-Advisory Agreement(s).

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA and BlackRock International Limited under the Advisory Agreements for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, including those of the Sub-Advisor(s), as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding investment performance, investment and risk management processes and strategies for BFA and BlackRock International Limited, which were provided at the May 6, 2024 meeting and throughout the year and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreements supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreements and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including the actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreements for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreements for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| USD | United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGM | Assured Guaranty Municipal Corp. |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| PIK | Payment-in-kind |
| PJSC | Public Joint Stock Company |
| RB | Revenue Bond |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

---

2024 iShares Annual Financial Statements and Additional Information

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services Limited, ICE Data Indices, LLC, or Markit Indices Limited, nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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![](g938995imgd45648ef3.gif)

------

October 31, 2024

![](g938995img25539c4d1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares CMBS ETF \| CMBS \| NYSE Arca |
| • iShares GNMA Bond ETF \| GNMA \| NASDAQ |
| • iShares Treasury Floating Rate Bond ETF \| TFLO \| NYSE Arca |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 14 |
| [Statements of Operations](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 15 |
| [Statements of Changes in Net Assets](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 16 |
| [Financial Highlights](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 18 |
| [Notes to Financial Statements](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 21 |
| [Report of Independent Registered Public Accounting Firm](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 28 |
| [Important Tax Information](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 29 |
| [Additional Information](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 30 |
| [Board Review and Approval of Investment Advisory Contract](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 31 |
| [Glossary of Terms Used in this Report](#xx_602fa513-c51b-4dc3-bcd3-a1a8da6680f8_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 34 |

---

------

Schedule of Investments

October 31, 2024

**iShares® CMBS ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** |
| **Mortgage-Backed Securities — 67.4%** | **Mortgage-Backed Securities — 67.4%** | **Mortgage-Backed Securities — 67.4%** |
| Bank |  |  |
| 1.72%, 06/15/64 | &nbsp;&nbsp; $850 | $706802 |
| 2.03%, 06/15/64 | &nbsp;&nbsp; 800 | 666939 |
| 2.04%, 02/15/54 | &nbsp;&nbsp; 1500 | 1256609 |
| 3.20%, 09/15/64<sup>(a)</sup> | &nbsp;&nbsp; 229 | 185675 |
| 3.30%, 05/15/64 | &nbsp;&nbsp; 500 | 396416 |
| 3.35%, 01/15/63<sup>(a)</sup> | &nbsp;&nbsp; 500 | 412896 |
| 3.46%, 04/15/52 | &nbsp;&nbsp; 635 | 598871 |
| 3.71%, 04/15/52 | &nbsp;&nbsp; 1000 | 949850 |
| 3.74%, 02/15/52 | &nbsp;&nbsp; 600 | 578033 |
| 3.79%, 04/15/65<sup>(a)</sup> | &nbsp;&nbsp; 500 | 460428 |
| 3.95%, 08/15/61 | &nbsp;&nbsp; 1000 | 962145 |
| 4.26%, 05/15/61<sup>(a)</sup> | &nbsp;&nbsp; 1010 | 984859 |
| 5.20%, 02/15/56 | &nbsp;&nbsp; 500 | 503749 |
| Series 2017, Class A5, 3.44%, 09/15/60 | &nbsp;&nbsp; 220 | 211140 |
| Series 2017-BNK4, Class AS, 3.78%, 05/15/50 | &nbsp;&nbsp; 500 | 475580 |
| Series 2017-BNK4, Class ASB, 3.42%, 05/15/50 | &nbsp;&nbsp; 134 | 132106 |
| Series 2017-BNK4, Class C, 4.37%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp; 485 | 409351 |
| Series 2017-BNK5, Class A4, 3.13%, 06/15/60 | &nbsp;&nbsp; 598 | 571347 |
| Series 2017-BNK7, Class B, 3.95%, 09/15/60 | &nbsp;&nbsp; 550 | 491908 |
| Series 2017-BNK8, Class A3, 3.23%, 11/15/50 | &nbsp;&nbsp; 683 | 658164 |
| Series 2018-BN14, Class A3, 3.97%, 09/15/60 | &nbsp;&nbsp; 705 | 676910 |
| Series 2018-BN14, Class A4, 4.23%, 09/15/60<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 973186 |
| Series 2018-BN14, Class AS, 4.48%, 09/15/60<sup>(a)</sup> | &nbsp;&nbsp; 500 | 478581 |
| Series 2018-BN15, Class A3, 4.14%, 11/15/61 | &nbsp;&nbsp; 490 | 473095 |
| Series 2018-BN15, Class A4, 4.41%, 11/15/61<sup>(a)</sup> | &nbsp;&nbsp; 1015 | 993662 |
| Series 2019-BN16, Class AS, 4.27%, 02/15/52 | &nbsp;&nbsp; 262 | 246563 |
| Series 2019-BN19, Class A3, 3.18%, 08/15/61 | &nbsp;&nbsp; 1797 | 1615481 |
| Series 2019-BN20, Class A2, 2.76%, 09/15/62 | &nbsp;&nbsp; 1008 | 909907 |
| Series 2019-BN20, Class B, 3.40%, 09/15/62<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 817799 |
| Series 2019-BN21, Class A4, 2.60%, 10/17/52 | &nbsp;&nbsp; 970 | 876921 |
| Series 2019-BN21, Class A5, 2.85%, 10/17/52 | &nbsp;&nbsp; 500 | 450420 |
| Series 2020-BN25, Class A3, 2.39%, 01/15/63 | &nbsp;&nbsp; 307 | 291155 |
| Series 2020-BN26, Class B, 2.91%, 03/15/63<sup>(a)</sup> | &nbsp;&nbsp; 250 | 201009 |
| Series 2020-BN28, Class A4, 1.84%, 03/15/63 | &nbsp;&nbsp; 500 | 419802 |
| Series 2020-BN29, Class C, 3.03%, 11/15/53<sup>(a)</sup> | &nbsp;&nbsp; 520 | 412693 |
| Series 2020-BN30, Class ABS, 1.67%, 12/15/53 | &nbsp;&nbsp; 240 | 218064 |
| Series 2021-BN32, Class AS, 2.64%, 04/15/54<sup>(a)</sup> | &nbsp;&nbsp; 1075 | 934394 |
| Series 2021-BN34, Class A5, 2.44%, 06/15/63 | &nbsp;&nbsp; 244 | 201496 |
| Series 2021-BN34, Class AS, 2.57%, 06/15/63 | &nbsp;&nbsp; 500 | 397060 |
| Series 2022-BNK40, Class AS, 3.39%, 03/15/64<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 864268 |
| Series 21-BN36, Class A5, 2.47%, 09/15/64 | &nbsp;&nbsp; 750 | 637538 |
| Series2017-BNK4, Class A4, 3.63%, 05/15/50 | &nbsp;&nbsp; 1000 | 964784 |
| Bank of America Merrill Lynch Commercial <br> Mortgage Trust<br>|  |  |
| Series 2016-UB10, Class A4, 3.17%, 07/15/49 | &nbsp;&nbsp; 800 | 777489 |
| Series 2016-UB10, Class B, 3.79%, 07/15/49 | &nbsp;&nbsp; 250 | 238052 |
| Series 2017-BNK3, Class A4, 3.57%, 02/15/50 | &nbsp;&nbsp; 1000 | 970651 |
| Bank5 |  |  |
| 5.70%, 02/15/29 | &nbsp;&nbsp; 944 | 965170 |
| 5.77%, 06/15/57 | &nbsp;&nbsp; 1910 | 1960363 |
| 5.78%, 04/15/56 | &nbsp;&nbsp; 175 | 178223 |
| 5.79%, 06/15/57 | &nbsp;&nbsp; 1000 | 1024078 |
| 6.26%, 04/15/56<sup>(a)</sup> | &nbsp;&nbsp; 2500 | 2585171 |
| 6.26%, 09/15/56 | &nbsp;&nbsp; 550 | 568632 |
| 6.42%, 08/15/57<sup>(a)</sup> | &nbsp;&nbsp; 160 | 161857 |
| 6.66%, 07/15/56<sup>(a)</sup> | &nbsp;&nbsp; 1500 | 1579108 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Bank5 Trust |  |  |
| 6.97%, 05/15/57<sup>(a)</sup> | &nbsp;&nbsp; $860 | $899781 |
| 6.97%, 05/15/57<sup>(a)</sup> | &nbsp;&nbsp; 360 | 372842 |
| Barclays Commercial Mortgage Trust |  |  |
| Series 2019-C4, Class A5, 2.92%, 08/15/52 | &nbsp;&nbsp; 1000 | 912942 |
| Series 2019-C5, 2.81%, 11/15/52 | &nbsp;&nbsp; 1000 | 911023 |
| Series 2019-C5, Class A4, 3.06%, 11/15/52 | &nbsp;&nbsp; 1000 | 915716 |
| BBCMS Mortgage Trust |  |  |
| 2.39%, 02/15/53 | &nbsp;&nbsp; 2000 | 1756593 |
| 2.69%, 11/15/54 | &nbsp;&nbsp; 870 | 748914 |
| 2.95%, 02/15/55<sup>(a)</sup> | &nbsp;&nbsp; 1500 | 1300985 |
| 5.40%, 09/15/57 | &nbsp;&nbsp; 1000 | 1022188 |
| 5.44%, 12/15/55<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 2050420 |
| 5.45%, 09/15/55<sup>(a)</sup> | &nbsp;&nbsp; 847 | 781369 |
| 5.58%, 07/15/56 | &nbsp;&nbsp; 1000 | 1034085 |
| 5.63%, 09/15/57 | &nbsp;&nbsp; 300 | 302684 |
| 5.71%, 12/15/55<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1041401 |
| 5.72%, 02/15/57 | &nbsp;&nbsp; 1000 | 997858 |
| 5.75%, 11/15/57<sup>(a)</sup> | &nbsp;&nbsp; 500 | 514975 |
| 5.83%, 05/15/57 | &nbsp;&nbsp; 2000 | 2109398 |
| 5.87%, 02/15/57 | &nbsp;&nbsp; 1630 | 1684903 |
| 5.89%, 09/15/57 | &nbsp;&nbsp; 1250 | 1273430 |
| 5.95%, 03/15/57 | &nbsp;&nbsp; 560 | 578407 |
| 5.97%, 07/15/56<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1037210 |
| 6.00%, 09/15/56<sup>(a)</sup> | &nbsp;&nbsp; 500 | 530951 |
| 6.13%, 11/15/57 | &nbsp;&nbsp; 900 | 926968 |
| 6.15%, 12/15/55, (1-day SOFR + 2.127%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 421738 |
| 6.30%, 09/15/56<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 2111645 |
| 6.33%, 04/15/56<sup>(a)</sup> | &nbsp;&nbsp; 250 | 255500 |
| 6.80%, 11/15/56<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1121712 |
| 7.45%, 12/15/56<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1076363 |
| Series 2018-C2, Class A5, 4.31%, 12/15/51 | &nbsp;&nbsp; 1000 | 975574 |
| Series 2018-C2, Class C, 4.96%, 12/15/51<sup>(a)</sup> | &nbsp;&nbsp; 250 | 227859 |
| Series 2020-C6, Class A4, 2.64%, 02/15/53 | &nbsp;&nbsp; 1500 | 1330153 |
| Series 2020-C7, Class A5, 2.04%, 04/15/53 | &nbsp;&nbsp; 1000 | 853512 |
| Series 2020-C7, Class AS, 2.44%, 04/15/53 | &nbsp;&nbsp; 300 | 248015 |
| Series 2020-C8, Class A5, 2.04%, 10/15/53 | &nbsp;&nbsp; 1000 | 848050 |
| Series 2021-C11, Class A5, 2.32%, 09/15/54 | &nbsp;&nbsp; 1500 | 1267859 |
| Series 2021-C12, Class A4, 2.42%, 11/15/54 | &nbsp;&nbsp; 1000 | 857987 |
| Series 2022-C14, Class AS, 3.35%, 02/15/55<sup>(a)</sup> | &nbsp;&nbsp; 250 | 211551 |
| Series 2022-C17, Class A4, 4.17%, 09/15/55 | &nbsp;&nbsp; 1000 | 949273 |
| BBCMS Trust |  |  |
| Series 2021-C10, Class A5, 2.49%, 07/15/54 | &nbsp;&nbsp; 500 | 433854 |
| Series 2021-C10, Class AS, 2.68%, 07/15/54 | &nbsp;&nbsp; 500 | 414336 |
| Series 2021-C10, Class B, 2.49%, 07/15/54 | &nbsp;&nbsp; 1000 | 789556 |
| Series 2021-C10, Class C, 2.84%, 07/15/54 | &nbsp;&nbsp; 500 | 397698 |
| Benchmark Mortgage Trust |  |  |
| 2.58%, 03/15/54 | &nbsp;&nbsp; 1000 | 848832 |
| 3.12%, 08/15/52 | &nbsp;&nbsp; 660 | 604084 |
| 3.18%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 443 | 370431 |
| 3.20%, 01/15/55<sup>(a)</sup> | &nbsp;&nbsp; 500 | 388935 |
| 3.46%, 03/15/55 | &nbsp;&nbsp; 1000 | 893469 |
| 3.94%, 07/15/51 | &nbsp;&nbsp; 1825 | 1756330 |
| 5.60%, 08/15/57 | &nbsp;&nbsp; 1300 | 1326006 |
| 5.81%, 01/10/57 | &nbsp;&nbsp; 45 | 46218 |
| 6.23%, 05/15/56<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1043184 |
| 6.95%, 07/15/57<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1046448 |
| 6.95%, 07/15/57<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1034554 |
| 7.10%, 07/15/56<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1052257 |
| Series 2018-B1, Class AM, 3.88%, 01/15/51<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 941667 |
| Series 2018-B2, Class C, 4.31%, 02/15/51<sup>(a)</sup> | &nbsp;&nbsp; 500 | 434822 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® CMBS ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Series 2018-B3, Class A4, 3.76%, 04/10/51 | &nbsp;&nbsp; $696 | $675770 |
| Series 2018-B4, Class ASB, 4.06%, 07/15/51<sup>(a)</sup> | &nbsp;&nbsp; 351 | 345659 |
| Series 2018-B4, Class C, 4.52%, 07/15/51<sup>(a)</sup> | &nbsp;&nbsp; 400 | 358010 |
| Series 2018-B5, Class B, 4.57%, 07/15/51 | &nbsp;&nbsp; 500 | 459986 |
| Series 2018-B7, Class A4, 4.51%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 1500 | 1463537 |
| Series 2018-B7, Class B, 4.84%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 758 | 698025 |
| Series 2018-B8, Class A4, 3.96%, 01/15/52 | &nbsp;&nbsp; 1000 | 966860 |
| Series 2019-B10, Class A3, 3.46%, 03/15/62 | &nbsp;&nbsp; 792 | 746177 |
| Series 2019-B10, Class AM, 3.98%, 03/15/62 | &nbsp;&nbsp; 600 | 552626 |
| Series 2019-B11, Class AS, 3.78%, 05/15/52 | &nbsp;&nbsp; 500 | 443405 |
| Series 2019-B13, Class C, 3.84%, 08/15/57<sup>(a)</sup> | &nbsp;&nbsp; 500 | 411404 |
| Series 2019-B9, Class A4, 3.75%, 03/15/52 | &nbsp;&nbsp; 1000 | 953877 |
| Series 2019-B9, Class C, 4.97%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 250 | 210698 |
| Series 2020-B16, Class A5, 2.73%, 02/15/53 | &nbsp;&nbsp; 990 | 887331 |
| Series 2020-B16, Class AM, 2.94%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 869280 |
| Series 2020-B17, Class C, 3.37%, 03/15/53<sup>(a)</sup> | &nbsp;&nbsp; 250 | 184417 |
| Series 2020-B20, Class B, 2.53%, 10/15/53 | &nbsp;&nbsp; 500 | 377259 |
| Series 2020-B21, Class A5, 2.25%, 12/17/53 | &nbsp;&nbsp; 500 | 411222 |
| Series 2020-IG1, Class A3, 2.69%, 09/15/43 | &nbsp;&nbsp; 750 | 626011 |
| Series 2021-B23, Class AS, 2.27%, 02/15/54 | &nbsp;&nbsp; 500 | 397574 |
| Series 2021-B24, Class A4, 2.26%, 03/15/54 | &nbsp;&nbsp; 1000 | 853649 |
| Series 2021-B25, Class A5, 2.58%, 04/15/54 | &nbsp;&nbsp; 1000 | 841735 |
| Series 2021-B26, Class AM, 2.83%, 06/15/54 | &nbsp;&nbsp; 500 | 406769 |
| Series 2021-B27, Class A2, 2.02%, 07/15/54 | &nbsp;&nbsp; 1000 | 950654 |
| Series 2021-B27, Class A5, 2.39%, 07/15/54 | &nbsp;&nbsp; 1000 | 833271 |
| Series 2021-B27, Class AS, 2.51%, 07/15/54 | &nbsp;&nbsp; 500 | 398112 |
| Series 2021-B29, Class A5, 2.39%, 09/15/54 | &nbsp;&nbsp; 830 | 701496 |
| Series 2022-B34, Class A5, 3.79%, 04/15/55<sup>(a)</sup> | &nbsp;&nbsp; 1500 | 1347586 |
| Series 2023-B38, Class A2, 5.63%, 04/15/56 | &nbsp;&nbsp; 2000 | 2024282 |
| Serise 2020-B17, Class A2, 2.21%, 03/15/53 | &nbsp;&nbsp; 1000 | 944512 |
| Serise 2020-B17, Class A5, 2.29%, 03/15/53 | &nbsp;&nbsp; 1500 | 1286344 |
| BMO Mortgage Trust |  |  |
| 5.31%, 09/15/54 | &nbsp;&nbsp; 1000 | 1009127 |
| 5.74%, 02/15/57 | &nbsp;&nbsp; 2000 | 2045453 |
| 5.76%, 07/15/57 | &nbsp;&nbsp; 1000 | 1045270 |
| 5.77%, 06/15/56 | &nbsp;&nbsp; 1750 | 1826028 |
| 5.86%, 02/15/57 | &nbsp;&nbsp; 1870 | 1927167 |
| 6.14%, 03/15/57<sup>(a)</sup> | &nbsp;&nbsp; 230 | 238123 |
| 6.23%, 03/15/57<sup>(a)</sup> | &nbsp;&nbsp; 120 | 115862 |
| 6.29%, 02/15/57<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1031859 |
| 6.36%, 02/15/57<sup>(a)</sup> | &nbsp;&nbsp; 252 | 261528 |
| 7.05%, 11/15/56<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1071847 |
| Cantor Commercial Real Estate Lending, 3.01%, <br> 01/15/53<br>| &nbsp;&nbsp; 1000 | 898756 |
| CD Mortgage Trust |  |  |
| 3.91%, 11/13/50<sup>(a)</sup> | &nbsp;&nbsp; 500 | 463810 |
| Series 2017-CD3, Class A4, 3.63%, 02/10/50 | &nbsp;&nbsp; 1730 | 1624711 |
| Series 2017-CD3, Class AS, 3.83%, 02/10/50 | &nbsp;&nbsp; 750 | 656383 |
| Series 2017-CD4, Class A4, 3.51%, 05/10/50<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 943261 |
| Series 2017-CD5, Class A4, 3.43%, 08/15/50 | &nbsp;&nbsp; 750 | 719597 |
| Series 2018-CD7, Class ASB, 4.21%, 08/15/51 | &nbsp;&nbsp; 417 | 411393 |
| Series 2019-CD8, Class A4, 2.91%, 08/15/57 | &nbsp;&nbsp; 1000 | 893760 |
| CFCRE Commercial Mortgage Trust |  |  |
| Series 2016-C3, Class A3, 3.87%, 01/10/48 | &nbsp;&nbsp; 500 | 493315 |
| Series 2017-C8, Class B, 4.20%, 06/15/50<sup>(a)</sup> | &nbsp;&nbsp; 750 | 698321 |
| Citigroup Commercial Mortgage Trust |  |  |
| 2.94%, 05/10/49 | &nbsp;&nbsp; 1988 | 1933832 |
| Series 2015-GC35, Class AAB, 3.61%, 11/10/48 | &nbsp;&nbsp; 94 | 93218 |
| Series 2015-P1, Class A5, 3.72%, 09/15/48 | &nbsp;&nbsp; 356 | 352014 |
| Series 2016-P3, Class A4, 3.33%, 04/15/49 | &nbsp;&nbsp; 75 | 72958 |
| Series 2017-C4, Class A3, 3.21%, 10/12/50 | &nbsp;&nbsp; 832 | 792529 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Series 2017-P8, Class A3, 3.20%, 09/15/50 | &nbsp;&nbsp; $1885 | $1809901 |
| Series 2018-B2, Class A4, 4.01%, 03/10/51 | &nbsp;&nbsp; 600 | 581408 |
| Series 2018-C5, Class A4, 4.23%, 06/10/51<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 972105 |
| Series 2018-C6, Class A4, 4.41%, 11/10/51 | &nbsp;&nbsp; 1199 | 1149462 |
| Series 2019-C7, Class A4, 3.10%, 12/15/72 | &nbsp;&nbsp; 1000 | 910504 |
| Series 2019-GC41, Class AS, 3.02%, 08/10/56 | &nbsp;&nbsp; 750 | 653270 |
| Series 2019-GC43, Class A4, 3.04%, 11/10/52 | &nbsp;&nbsp; 750 | 662091 |
| Series 2020-GC46, Class A5, 2.72%, 02/15/53 | &nbsp;&nbsp; 1000 | 888517 |
| Series 2020-GC46, Class AS, 2.92%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 500 | 421323 |
| Series 2020-GC46, Class B, 3.15%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 234 | 192287 |
| Commission Mortgage Trust |  |  |
| Series 2015-CR24, Class A4, 3.43%, 08/10/48 | &nbsp;&nbsp; 872 | 865036 |
| Series 2015-CR25, Class B, 4.52%, 08/10/48<sup>(a)</sup> | &nbsp;&nbsp; 300 | 297449 |
| Series 2016-DC2, Class A4, 3.50%, 02/10/49 | &nbsp;&nbsp; 324 | 319739 |
| Series 2016-DC2, Class C, 4.66%, 02/10/49<sup>(a)</sup> | &nbsp;&nbsp; 250 | 244739 |
| Series 2017-COR2, Class C, 4.59%, 09/10/50<sup>(a)</sup> | &nbsp;&nbsp; 750 | 697715 |
| Series 2018-COR3, Class A3, 4.23%, 05/10/51 | &nbsp;&nbsp; 750 | 708527 |
| Series 2019-GC44, Class A5, 2.95%, 08/15/57 | &nbsp;&nbsp; 1000 | 901345 |
| CSAIL Commercial Mortgage Trust |  |  |
| 2.49%, 03/15/54 | &nbsp;&nbsp; 1318 | 1154102 |
| 3.92%, 01/15/49<sup>(a)</sup> | &nbsp;&nbsp; 300 | 283817 |
| 4.05%, 03/15/52 | &nbsp;&nbsp; 1550 | 1487717 |
| Series 2015-C4, Class D, 3.55%, 11/15/48<sup>(a)</sup> | &nbsp;&nbsp; 250 | 233016 |
| Series 2016-C5, Class C, 4.63%, 11/15/48<sup>(a)</sup> | &nbsp;&nbsp; 750 | 715576 |
| Series 2016-C6, Class C, 4.92%, 01/15/49<sup>(a)</sup> | &nbsp;&nbsp; 350 | 323441 |
| Series 2016-C7, Class A4, 3.21%, 11/15/49 | &nbsp;&nbsp; 193 | 189015 |
| Series 2016-C7, Class A5, 3.50%, 11/15/49 | &nbsp;&nbsp; 115 | 111438 |
| Series 2016-C7, Class AS, 3.96%, 11/15/49<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 942133 |
| Series 2017-CX9, Class A5, 3.45%, 09/15/50 | &nbsp;&nbsp; 1000 | 945571 |
| Series 2018-CX11, Class A5, 4.03%, 04/15/51<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 971987 |
| Series 2019-C15, Class A3, 3.78%, 03/15/52 | &nbsp;&nbsp; 1395 | 1338950 |
| Series 2019-C15, Class B, 4.48%, 03/15/52 | &nbsp;&nbsp; 1000 | 920967 |
| Series 2019-C18, Class ASB, 2.87%, 12/15/52 | &nbsp;&nbsp; 500 | 477175 |
| Series 2020-C19, Class A3, 2.56%, 03/15/53 | &nbsp;&nbsp; 1500 | 1296810 |
| DBGS Mortgage Trust, Series 2018-C1, Class A4, <br> 4.47%, 10/15/51<br>| &nbsp;&nbsp; 1400 | 1337373 |
| Federal Home Loan Mortgage Corp. Multifamily <br> Structured Pass-Through Certificates<br>|  |  |
| 1.52%, 11/25/30 | &nbsp;&nbsp; 1250 | 1047739 |
| 1.55%, 01/25/27 | &nbsp;&nbsp; 1100 | 1035828 |
| 2.05%, 11/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 909106 |
| 2.24%, 10/25/31<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 857973 |
| 2.35%, 11/25/31<sup>(a)</sup> | &nbsp;&nbsp; 1110 | 956652 |
| 2.35%, 03/25/32 | &nbsp;&nbsp; 2000 | 1713237 |
| 3.53%, 08/25/32 | &nbsp;&nbsp; 1000 | 925182 |
| 3.53%, 09/25/32 | &nbsp;&nbsp; 2000 | 1838512 |
| 3.60%, 02/25/28 | &nbsp;&nbsp; 2750 | 2664572 |
| 3.70%, 05/25/30 | &nbsp;&nbsp; 895 | 872544 |
| 3.78%, 01/25/32 | &nbsp;&nbsp; 986 | 947745 |
| 3.78%, 11/25/32<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 1878853 |
| 3.80%, 10/25/32<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 940832 |
| 3.82%, 12/25/32<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 1883026 |
| 3.90%, 04/25/28 | &nbsp;&nbsp; 2000 | 1953521 |
| 3.92%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 1950513 |
| 4.05%, 07/25/33 | &nbsp;&nbsp; 1500 | 1430831 |
| 4.20%, 05/25/33 | &nbsp;&nbsp; 1500 | 1447491 |
| 4.22%, 04/25/30 | &nbsp;&nbsp; 2000 | 1951736 |
| 4.25%, 04/25/33 | &nbsp;&nbsp; 2000 | 1937613 |
| 4.25%, 04/25/33 | &nbsp;&nbsp; 1500 | 1445177 |
| 4.28%, 07/25/30 | &nbsp;&nbsp; 2000 | 1964081 |
| 4.35%, 01/25/33<sup>(a)</sup> | &nbsp;&nbsp; 3500 | 3416870 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® CMBS ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 4.41%, 03/25/30 | &nbsp;&nbsp; $1000 | $989622 |
| 4.43%, 02/25/33<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 981647 |
| 4.50%, 08/25/33<sup>(a)</sup> | &nbsp;&nbsp; 500 | 492471 |
| 4.57%, 12/25/28 | &nbsp;&nbsp; 1000 | 998004 |
| 4.65%, 08/25/28<sup>(a)</sup> | &nbsp;&nbsp; 3000 | 3004014 |
| 4.74%, 08/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1004081 |
| 4.82%, 06/25/28 | &nbsp;&nbsp; 1000 | 1006660 |
| 4.94%, 11/25/30<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 1013433 |
| 5.00%, 11/25/28 | &nbsp;&nbsp; 2800 | 2837220 |
| 5.00%, 03/25/34<sup>(a)</sup> | &nbsp;&nbsp; 4000 | 4077556 |
| 5.00%, 05/25/34 | &nbsp;&nbsp; 3000 | 3060327 |
| 5.36%, 01/25/29<sup>(a)</sup> | &nbsp;&nbsp; 500 | 513175 |
| Federal National Mortgage Association |  |  |
| 1.71%, 11/25/31<sup>(a)</sup> | &nbsp;&nbsp; 924 | 828900 |
| 1.94%, 12/25/31<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 835490 |
| 2.35%, 02/25/31 | &nbsp;&nbsp; 948 | 851563 |
| 2.59%, 06/25/32<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 868565 |
| 3.77%, 09/25/32<sup>(a)</sup> | &nbsp;&nbsp; 1100 | 1034900 |
| Series 2016-M10, Class AV2, 3.00%, 11/25/45 | &nbsp;&nbsp; 500 | 408959 |
| Series 2016-M5, Class A2, 2.47%, 04/25/26 | &nbsp;&nbsp; 1691 | 1642897 |
| Series 2017-M1, Class A2, 2.42%, 10/25/26<sup>(a)</sup> | &nbsp;&nbsp; 700 | 673683 |
| Series 2017-M14, Class A2, 2.81%, 11/25/27<sup>(a)</sup> | &nbsp;&nbsp; 1341 | 1279046 |
| Series 2018-M14, Class A2, 3.58%, 08/25/28<sup>(a)</sup> | &nbsp;&nbsp; 403 | 390703 |
| Series 2019-M12, Class A2, 2.89%, 06/25/29<sup>(a)</sup> | &nbsp;&nbsp; 1149 | 1074716 |
| Series 2019-M25, Class A2, 2.33%, 11/25/29<sup>(a)</sup> | &nbsp;&nbsp; 1646 | 1490000 |
| Series 2020-M1, Class A1, 2.15%, 10/25/29 | &nbsp;&nbsp; 1025 | 982703 |
| Series 2020-M1, Class A2, 2.44%, 10/25/29 | &nbsp;&nbsp; 2530 | 2297973 |
| Series 2020-M14, Class A2, 1.78%, 05/25/30 | &nbsp;&nbsp; 968 | 840711 |
| Series 2020-M20, Class A2, 1.44%, 10/25/29 | &nbsp;&nbsp; 250 | 215594 |
| Series 2020-M5, Class A3, 2.19%, 01/25/30 | &nbsp;&nbsp; 1000 | 886822 |
| Series 2020-M8, Class A2, 1.82%, 02/25/30 | &nbsp;&nbsp; 96 | 84334 |
| Series 2021-M19, Class A2, 1.74%, 10/25/31<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 1658605 |
| Series 2021-M4, Class A2, 1.46%, 02/25/31<sup>(a)</sup> | &nbsp;&nbsp; 2500 | 2076951 |
| Series 2022-M3, Class A2, 1.71%, 11/25/31<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 1642023 |
| Series 2022-M4, Class A2, 2.29%, 05/25/30<sup>(a)</sup> | &nbsp;&nbsp; 1800 | 1603015 |
| Series2019-M6, Class A2, 3.45%, 01/01/29 | &nbsp;&nbsp; 394 | 380434 |
| Federal National Mortgage Association-ACES, 4.18%, <br> 07/25/28<sup>(a)</sup><br>| &nbsp;&nbsp; 956 | 942507 |
| GS Mortgage Securities Trust |  |  |
| 2.79%, 05/10/49 | &nbsp;&nbsp; 1657 | 1609823 |
| 2.79%, 11/10/52 | &nbsp;&nbsp; 250 | 226852 |
| 3.89%, 07/10/51 | &nbsp;&nbsp; 675 | 643846 |
| 4.32%, 11/10/50<sup>(a)</sup> | &nbsp;&nbsp; 900 | 780548 |
| Series 2015-GC32, Class A3, 3.50%, 07/10/48 | &nbsp;&nbsp; 489 | 485991 |
| Series 2016-GS3, Class A4, 2.85%, 10/10/49 | &nbsp;&nbsp; 2530 | 2428648 |
| Series 2016-GS4, Class A4, 3.44%, 11/10/49<sup>(a)</sup> | &nbsp;&nbsp; 39 | 37843 |
| Series 2017-GS7, Class A3, 3.17%, 08/10/50 | &nbsp;&nbsp; 1000 | 948491 |
| Series 2017-GS7, Class B, 3.88%, 08/10/50 | &nbsp;&nbsp; 500 | 456284 |
| Series 2019-GC38, Class A4, 3.97%, 02/10/52 | &nbsp;&nbsp; 750 | 716603 |
| Series 2019-GC40, Class A4, 3.16%, 07/10/52 | &nbsp;&nbsp; 1131 | 1039207 |
| Series 2019-GSA1, Class C, 3.80%, 11/10/52<sup>(a)</sup> | &nbsp;&nbsp; 500 | 428291 |
| Series 2020-GC45, Class A4, 2.66%, 02/13/53 | &nbsp;&nbsp; 775 | 699409 |
| JP Morgan Chase Commercial Mortgage <br> Securities Trust<br>|  |  |
| Series 2015-JP1, Class A4, 3.65%, 01/15/49 | &nbsp;&nbsp; 901 | 887555 |
| Series 2016-JP3, Class AS, 3.14%, 08/15/49 | &nbsp;&nbsp; 1000 | 907882 |
| Series 2016-JP3, Class B, 3.40%, 08/15/49<sup>(a)</sup> | &nbsp;&nbsp; 108 | 92921 |
| Series 2016-JP4, Class A4, 3.65%, 12/15/49, <br> (1-day SOFR + 2.127%)<sup>(a)</sup><br>| &nbsp;&nbsp; 1090 | 1055132 |
| JPMBB Commercial Mortgage Securities Trust |  |  |
| Series 2015-C28, Class A3, 2.91%, 10/15/48 | &nbsp;&nbsp; 223 | 222588 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Series 2015-C29, Class ASB, 3.30%, 05/15/48 | &nbsp;&nbsp; $10 | $9982 |
| Series 2015-C30, Class AS, 4.23%, 07/15/48<sup>(a)</sup> | &nbsp;&nbsp; 635 | 616387 |
| Series 2016-C1, Class A5, 3.58%, 03/17/49 | &nbsp;&nbsp; 822 | 806940 |
| Series 2016-C1, Class B, 4.70%, 03/17/49<sup>(a)</sup> | &nbsp;&nbsp; 450 | 440342 |
| Series 2016-C1, Class C, 4.70%, 03/17/49<sup>(a)</sup> | &nbsp;&nbsp; 400 | 372088 |
| JPMCC Commercial Mortgage Securities Trust |  |  |
| Series 2017-JP5, Class AS, 3.88%, 03/15/50<sup>(a)</sup> | &nbsp;&nbsp; 1300 | 1243697 |
| Series 2017-JP5, Class ASB, 3.55%, 03/15/50 | &nbsp;&nbsp; 67 | 65668 |
| Series 2017-JP6, Class A5, 3.49%, 07/15/50 | &nbsp;&nbsp; 300 | 283774 |
| Series 2017-JP6, Class AS, 3.74%, 07/15/50 | &nbsp;&nbsp; 400 | 369647 |
| Series 2019-COR5, Class A2, 3.15%, 06/13/52 | &nbsp;&nbsp; 222 | 220614 |
| JPMDB Commercial Mortgage Securities Trust |  |  |
| Series 2016-C2, Class B, 3.99%, 06/15/49<sup>(a)</sup> | &nbsp;&nbsp; 750 | 639023 |
| Series 2017-C5, Class A5, 3.69%, 03/15/50 | &nbsp;&nbsp; 1100 | 1065498 |
| Series 2018-C8, Class A3, 3.94%, 06/15/51 | &nbsp;&nbsp; 508 | 490839 |
| Series 2019-COR6, Class A4, 3.06%, 11/13/52 | &nbsp;&nbsp; 955 | 831099 |
| Series 2020-COR7, Class A5, 2.18%, 05/13/53 | &nbsp;&nbsp; 539 | 437671 |
| Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| 2.60%, 09/15/49 | &nbsp;&nbsp; 623 | 602409 |
| Series 2015-C20, Class AS, 3.61%, 02/15/48 | &nbsp;&nbsp; 500 | 497290 |
| Series 2015-C22, Class C, 4.20%, 04/15/48<sup>(a)</sup> | &nbsp;&nbsp; 250 | 216271 |
| Series 2015-C23, Class A3, 3.45%, 07/15/50 | &nbsp;&nbsp; 717 | 710102 |
| Series 2015-C24, Class A3, 3.48%, 05/15/48 | &nbsp;&nbsp; 300 | 297354 |
| Series 2015-C25, Class ASB, 3.38%, 10/15/48 | &nbsp;&nbsp; 85 | 84501 |
| Series 2016-C28, Class A4, 3.54%, 01/15/49 | &nbsp;&nbsp; 1000 | 978508 |
| Series 2016-C30, Class A5, 2.86%, 09/15/49 | &nbsp;&nbsp; 500 | 479076 |
| Series 2016-C32, Class A4, 3.72%, 12/15/49 | &nbsp;&nbsp; 1400 | 1358487 |
| Series 2016-C32, Class ASB, 3.51%, 12/15/49 | &nbsp;&nbsp; 146 | 143518 |
| Series 2017-C33, Class A5, 3.60%, 05/15/50 | &nbsp;&nbsp; 1100 | 1062201 |
| Series 2017-C34, Class A4, 3.54%, 11/15/52 | &nbsp;&nbsp; 1000 | 955958 |
| Morgan Stanley Capital I Trust |  |  |
| 3.13%, 11/15/52 | &nbsp;&nbsp; 2000 | 1831995 |
| 4.85%, 07/15/51<sup>(a)</sup> | &nbsp;&nbsp; 400 | 372476 |
| Series 2015-UBS8, Class AS, 4.11%, 12/15/48 | &nbsp;&nbsp; 250 | 244687 |
| Series 2016-UB11, Class A4, 2.78%, 08/15/49 | &nbsp;&nbsp; 1275 | 1220763 |
| Series 2016-UB12, Class A3, 3.34%, 12/15/49 | &nbsp;&nbsp; 983 | 952484 |
| Series 2017-H1, Class A5, 3.53%, 06/15/50 | &nbsp;&nbsp; 1000 | 964634 |
| Series 2018-H3, Class A4, 3.91%, 07/15/51 | &nbsp;&nbsp; 500 | 482295 |
| Series 2019-H7, Class A4, 3.26%, 07/15/52 | &nbsp;&nbsp; 1000 | 921000 |
| Series 2020-HR8, Class A4, 2.04%, 07/15/53 | &nbsp;&nbsp; 1120 | 954579 |
| Series 2020-L4, Class A3, 2.70%, 02/15/53 | &nbsp;&nbsp; 500 | 443532 |
| Series 2021-L5, Class ASB, 2.43%, 05/15/54 | &nbsp;&nbsp; 145 | 131876 |
| Series 2021-L6, Class A2, 2.13%, 06/15/54<sup>(a)</sup> | &nbsp;&nbsp; 1460 | 1332948 |
| Series 2021-L7, Class A5, 2.57%, 10/15/54 | &nbsp;&nbsp; 1000 | 849770 |
| MSWF Commercial Mortgage Trust, 5.75%, 05/15/56 | &nbsp;&nbsp; 730 | 762516 |
| UBS Commercial Mortgage Trust |  |  |
| Series 2017-C1, Class A4, 3.54%, 11/15/50<sup>(a)</sup> | &nbsp;&nbsp; 1580 | 1508541 |
| Series 2017-C2, Class A4, 3.49%, 08/15/50 | &nbsp;&nbsp; 1080 | 1037942 |
| Series 2017-C6, Class AS, 3.93%, 12/15/50<sup>(a)</sup> | &nbsp;&nbsp; 500 | 470971 |
| Series 2017-C7, Class A4, 3.68%, 12/15/50 | &nbsp;&nbsp; 1000 | 957960 |
| Series 2018-C08, Class A4, 3.98%, 02/15/51 | &nbsp;&nbsp; 1325 | 1277343 |
| Series 2018-C15, Class B, 4.92%, 12/15/51<sup>(a)</sup> | &nbsp;&nbsp; 750 | 689064 |
| Series 2019-C16, Class AS, 3.89%, 04/15/52 | &nbsp;&nbsp; 1592 | 1480728 |
| Series 2019-C17, Class A4, 2.92%, 10/15/52 | &nbsp;&nbsp; 1000 | 900655 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| 2.65%, 08/15/49 | &nbsp;&nbsp; 1000 | 955789 |
| 3.31%, 11/15/54 | &nbsp;&nbsp; 500 | 397643 |
| 4.00%, 04/15/55<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 929988 |
| 4.15%, 03/15/51<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 957202 |
| 4.15%, 08/15/51 | &nbsp;&nbsp; 623 | 600762 |
| 4.55%, 03/15/52 | &nbsp;&nbsp; 500 | 465446 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® CMBS ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Series 2015-C30, Class ASB, 3.41%, 09/15/58 | &nbsp;&nbsp; $40 | $39342 |
| Series 2016-C33, Class A4, 3.43%, 03/15/59 | &nbsp;&nbsp; 1000 | 978808 |
| Series 2016-C36, Class AS, 3.42%, 11/15/59 | &nbsp;&nbsp; 705 | 672559 |
| Series 2016-LC25, Class B, 4.33%, 12/15/59<sup>(a)</sup> | &nbsp;&nbsp; 198 | 192409 |
| Series 2016-NXS6, Class B, 3.81%, 11/15/49 | &nbsp;&nbsp; 500 | 471086 |
| Series 2017-C38, Class A4, 3.19%, 07/15/50 | &nbsp;&nbsp; 588 | 564047 |
| Series 2017-C38, Class A5, 3.45%, 07/15/50 | &nbsp;&nbsp; 1000 | 961414 |
| Series 2017-C39, Class A5, 3.42%, 09/15/50 | &nbsp;&nbsp; 1000 | 954103 |
| Series 2017-C42, Class B, 4.00%, 12/15/50<sup>(a)</sup> | &nbsp;&nbsp; 500 | 442114 |
| Series 2018-C44, Class A4, 3.95%, 05/15/51 | &nbsp;&nbsp; 1250 | 1204437 |
| Series 2018-C45, Class AS, 4.41%, 06/15/51<sup>(a)</sup> | &nbsp;&nbsp; 350 | 336583 |
| Series 2018-C46, Class AS, 4.38%, 08/15/51 | &nbsp;&nbsp; 500 | 479933 |
| Series 2018-C47, Class A4, 4.44%, 09/15/61 | &nbsp;&nbsp; 1250 | 1226297 |
| Series 2018-C48, Class A5, 4.30%, 01/15/52 | &nbsp;&nbsp; 1010 | 984117 |
| Series 2019-C49, Class A5, 4.02%, 03/15/52 | &nbsp;&nbsp; 2750 | 2647093 |
| Series 2019-C49, Class C, 4.87%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 665 | 605516 |
| Series 2019-C50, Class A5, 3.73%, 05/15/52 | &nbsp;&nbsp; 750 | 707687 |
| Series 2019-C51, Class AS, 3.58%, 06/15/52 | &nbsp;&nbsp; 492 | 441092 |
| Series 2020-C56, Class ASB, 2.42%, 06/15/53 | &nbsp;&nbsp; 500 | 466321 |
| Series 2020-C56, Class B, 3.74%, 06/15/53<sup>(a)</sup> | &nbsp;&nbsp; 345 | 297153 |
| Series 2020-C56, Class C, 3.74%, 06/15/53<sup>(a)</sup> | &nbsp;&nbsp; 800 | 660213 |
| Series 2020-C57, Class A4, 2.12%, 08/15/53 | &nbsp;&nbsp; 919 | 789923 |
| Series 2021-C59, Class A5, 2.63%, 04/15/54 | &nbsp;&nbsp; 1000 | 857123 |
| Series 2021-C59, Class ASB, 2.30%, 04/15/54 | &nbsp;&nbsp; 459 | 425005 |
| WFRBS Commercial Mortgage Trust, Series 2014-C24, <br> Class A5, 3.61%, 11/15/47<br>| &nbsp;&nbsp; 13 | 12497 |
|  |  | 307611388 |
| **Total Collateralized Mortgage Obligations — 67.4%** <br>**(Cost: $325,255,040)** | **Total Collateralized Mortgage Obligations — 67.4%** <br>**(Cost: $325,255,040)** | 307611388 |
| **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** |
| **Mortgage-Backed Securities — 31.7%** | **Mortgage-Backed Securities — 31.7%** | **Mortgage-Backed Securities — 31.7%** |
| Federal Home Loan Mortgage Corp. Multifamily <br> Structured Pass-Through Certificates<br>|  |  |
| 1.31%, 05/25/30 | &nbsp;&nbsp; 1000 | 841720 |
| 2.03%, 09/25/28 | &nbsp;&nbsp; 1150 | 1047951 |
| 2.25%, 01/25/32 | &nbsp;&nbsp; 165 | 140740 |
| 2.45%, 04/25/32 | &nbsp;&nbsp; 1000 | 861423 |
| 2.58%, 05/25/32 | &nbsp;&nbsp; 1250 | 1085086 |
| 2.92%, 06/25/32 | &nbsp;&nbsp; 650 | 577562 |
| 3.50%, 07/25/32<sup>(a)</sup> | &nbsp;&nbsp; 1750 | 1616729 |
| Class A1, 2.55%, 05/25/31 | &nbsp;&nbsp; 991 | 914275 |
| Class A2, 2.25%, 02/25/32 | &nbsp;&nbsp; 1500 | 1279690 |
| Series 158, Class A2, 3.90%, 12/25/30<sup>(a)</sup> | &nbsp;&nbsp; 905 | 868372 |
| Series K055, Class A2, 2.67%, 03/25/26 | &nbsp;&nbsp; 499 | 486654 |
| Series K056, Class A1, 2.20%, 07/25/25 | &nbsp;&nbsp; 34 | 33484 |
| Series K057, Class A2, 2.57%, 07/25/26 | &nbsp;&nbsp; 725 | 703483 |
| Series K058, Class A2, 2.65%, 08/25/26 | &nbsp;&nbsp; 1527 | 1477706 |
| Series K059, Class A2, 3.12%, 09/25/26<sup>(a)</sup> | &nbsp;&nbsp; 2530 | 2466849 |
| Series K061, Class A2, 3.35%, 11/25/26<sup>(a)</sup> | &nbsp;&nbsp; 1273 | 1244149 |
| Series K062, Class A2, 3.41%, 12/25/26 | &nbsp;&nbsp; 1000 | 977441 |
| Series K063, Class A2, 3.43%, 01/25/27<sup>(a)</sup> | &nbsp;&nbsp; 1345 | 1315123 |
| Series K064, Class A2, 3.22%, 03/25/27 | &nbsp;&nbsp; 1325 | 1288108 |
| Series K065, Class A2, 3.24%, 04/25/27 | &nbsp;&nbsp; 1285 | 1247224 |
| Series K066, Class A2, 3.12%, 06/25/27 | &nbsp;&nbsp; 1000 | 966382 |
| Series K067, Class A2, 3.19%, 07/25/27 | &nbsp;&nbsp; 4000 | 3865958 |
| Series K068, Class A2, 3.24%, 08/25/27 | &nbsp;&nbsp; 3000 | 2900741 |
| Series K070, Class A2, 3.30%, 11/25/27<sup>(a)</sup> | &nbsp;&nbsp; 3541 | 3422560 |
| Series K073, Class A2, 3.35%, 01/25/28 | &nbsp;&nbsp; 1000 | 965723 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Series K075, Class A2, 3.65%, 02/25/28, <br> (1-day SOFR + 2.127%)<sup>(a)</sup><br>| &nbsp;&nbsp; $1000 | $973013 |
| Series K076, Class A1, 3.73%, 12/25/27 | &nbsp;&nbsp; 670 | 660026 |
| Series K077, Class A2, 3.85%, 05/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 977554 |
| Series K079, Class A2, 3.93%, 06/25/28 | &nbsp;&nbsp; 1100 | 1077101 |
| Series K081, Class A2, 3.90%, 08/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1500 | 1466293 |
| Series K082, Class A2, 3.92%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1310 | 1281176 |
| Series K083, Class A2, 4.05%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1125 | 1105012 |
| Series K085, Class A2, 4.06%, 10/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 980931 |
| Series K086, Class A2, 3.86%, 11/25/28, <br> (1-day SOFR + 2.127%)<sup>(a)</sup><br>| &nbsp;&nbsp; 1725 | 1681559 |
| Series K088, Class A1, 3.48%, 09/25/28 | &nbsp;&nbsp; 250 | 244844 |
| Series K088, Class A2, 3.69%, 01/25/29 | &nbsp;&nbsp; 1010 | 977488 |
| Series K089, Class A1, 3.34%, 10/25/28 | &nbsp;&nbsp; 703 | 684506 |
| Series K089, Class A2, 3.56%, 01/25/29 | &nbsp;&nbsp; 2675 | 2575448 |
| Series K091, Class A2, 3.51%, 03/25/29 | &nbsp;&nbsp; 1017 | 975771 |
| Series K092, Class A2, 3.30%, 04/25/29 | &nbsp;&nbsp; 1010 | 959766 |
| Series K094, Class A2, 2.90%, 06/25/29 | &nbsp;&nbsp; 420 | 391710 |
| Series K095, Class A2, 2.79%, 06/25/29 | &nbsp;&nbsp; 675 | 626339 |
| Series K097, Class A1, 2.16%, 05/25/29 | &nbsp;&nbsp; 866 | 819485 |
| Series K098, Class A2, 2.43%, 08/25/29 | &nbsp;&nbsp; 3500 | 3186259 |
| Series K100, Class A2, 2.67%, 09/25/29 | &nbsp;&nbsp; 1000 | 918149 |
| Series K101, Class A2, 2.52%, 10/25/29 | &nbsp;&nbsp; 250 | 227707 |
| Series K102, Class A1, 2.18%, 05/25/29 | &nbsp;&nbsp; 864 | 817673 |
| Series K103, Class A2, 2.65%, 11/25/29 | &nbsp;&nbsp; 1220 | 1116120 |
| Series K105, Class A2, 1.87%, 01/25/30 | &nbsp;&nbsp; 1485 | 1301107 |
| Series K106, Class A1, 1.78%, 10/25/29 | &nbsp;&nbsp; 857 | 795659 |
| Series K106, Class A2, 2.07%, 01/25/30 | &nbsp;&nbsp; 1250 | 1105574 |
| Series K107, Class A2, 1.64%, 01/25/30 | &nbsp;&nbsp; 1250 | 1083948 |
| Series K108, Class A2, 1.52%, 03/25/30 | &nbsp;&nbsp; 2153 | 1848380 |
| Series K109, Class A2, 1.56%, 04/25/30 | &nbsp;&nbsp; 3000 | 2570624 |
| Series K110, Class A1, 1.02%, 09/25/29 | &nbsp;&nbsp; 928 | 833490 |
| Series K110, Class A2, 1.48%, 04/25/30 | &nbsp;&nbsp; 1640 | 1401250 |
| Series K111, Class A2, 1.35%, 05/25/30 | &nbsp;&nbsp; 1500 | 1267350 |
| Series K115, Class A2, 1.38%, 06/25/30 | &nbsp;&nbsp; 1250 | 1052702 |
| Series K116, Class A2, 1.38%, 07/25/30 | &nbsp;&nbsp; 2025 | 1701932 |
| Series K117, Class A2, 1.41%, 08/25/30 | &nbsp;&nbsp; 1500 | 1259377 |
| Series K118, Class A1, 0.79%, 03/25/30 | &nbsp;&nbsp; 1730 | 1548485 |
| Series K118, Class A2, 1.49%, 09/25/30 | &nbsp;&nbsp; 1500 | 1263091 |
| Series K119, Class A2, 1.57%, 09/25/30 | &nbsp;&nbsp; 2000 | 1689906 |
| Series K120, Class A2, 1.50%, 10/25/30 | &nbsp;&nbsp; 2200 | 1846152 |
| Series K123, Class A2, 1.62%, 12/25/30 | &nbsp;&nbsp; 600 | 505855 |
| Series K124, Class A2, 1.66%, 12/25/30 | &nbsp;&nbsp; 1300 | 1096467 |
| Series K125, Class A2, 1.85%, 01/25/31 | &nbsp;&nbsp; 1000 | 851973 |
| Series K126, Class A2, 2.07%, 01/25/31 | &nbsp;&nbsp; 1116 | 965035 |
| Series K127, Class A2, 2.11%, 01/25/31 | &nbsp;&nbsp; 1740 | 1505684 |
| Series K128, Class A2, 2.02%, 03/25/31 | &nbsp;&nbsp; 1000 | 860255 |
| Series K130, Class A2, 1.72%, 06/25/31 | &nbsp;&nbsp; 1450 | 1214947 |
| Series K131, Class A2, 1.85%, 07/25/31 | &nbsp;&nbsp; 1000 | 843618 |
| Series K132, Class A2, 2.02%, 08/25/31 | &nbsp;&nbsp; 1000 | 847485 |
| Series K133, Class A2, 2.10%, 09/25/31 | &nbsp;&nbsp; 1000 | 850485 |
| Series K135, Class A1, 1.61%, 10/25/30 | &nbsp;&nbsp; 1158 | 1032129 |
| Series K135, CLASS A2, 2.15%, 10/25/31<sup>(a)</sup> | &nbsp;&nbsp; 1800 | 1535792 |
| Series K136, Class A2, 2.13%, 11/25/31 | &nbsp;&nbsp; 2900 | 2464807 |
| Series K139, Class A2, 2.59%, 01/25/32<sup>(a)</sup> | &nbsp;&nbsp; 750 | 655499 |
| Series K142, Class A2, 2.40%, 03/25/32 | &nbsp;&nbsp; 1000 | 860258 |
| Series K150, 3.71%, 09/25/32, <br> (1-day SOFR + 2.127%)<sup>(a)</sup><br>| &nbsp;&nbsp; 2000 | 1871480 |
| Series K1510, Class A2, 3.72%, 01/25/31 | &nbsp;&nbsp; 880 | 833346 |
| Series K1510, Class A3, 3.79%, 01/25/34 | &nbsp;&nbsp; 500 | 464412 |
| Series K-1511, Class A2, 3.47%, 03/25/31 | &nbsp;&nbsp; 500 | 465630 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® CMBS ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Series K-1512, Class A2, 2.99%, 05/25/31 | &nbsp;&nbsp; $730 | $663339 |
| Series K-1512, Class A3, 3.06%, 04/25/34 | &nbsp;&nbsp; 450 | 392133 |
| Series K-1513, Class A3, 2.80%, 08/25/34 | &nbsp;&nbsp; 1015 | 860254 |
| Series K-1516, Class A2, 1.72%, 05/25/35 | &nbsp;&nbsp; 1825 | 1362831 |
| Series K-1517, Class A2, 1.72%, 07/25/35 | &nbsp;&nbsp; 1500 | 1125921 |
| Series K-1518, Class A2, 1.86%, 10/25/35 | &nbsp;&nbsp; 500 | 376884 |
| Series K152, Class A1, 2.83%, 05/25/30 | &nbsp;&nbsp; 985 | 932183 |
| Series K152, Class A2, 3.08%, 01/25/31 | &nbsp;&nbsp; 250 | 229379 |
| Series K-1520, Class A2, 2.44%, 02/25/36 | &nbsp;&nbsp; 1000 | 793990 |
| Series K-1521, Class A2, 2.18%, 08/25/36 | &nbsp;&nbsp; 1000 | 766824 |
| Series K153, Class A3, 3.12%, 10/25/31<sup>(a)</sup> | &nbsp;&nbsp; 500 | 454564 |
| Series K154, Class A3, 3.46%, 11/25/32<sup>(a)</sup> | &nbsp;&nbsp; 345 | 317145 |
| Series K155, Class A1, 3.75%, 11/25/29 | &nbsp;&nbsp; 396 | 387978 |
| Series K156, Class A3, 3.70%, 06/25/33<sup>(a)</sup> | &nbsp;&nbsp; 500 | 464896 |
| Series K157, Class A2, 3.99%, 05/25/33<sup>(a)</sup> | &nbsp;&nbsp; 826 | 797985 |
| Series K159, Class A1, 3.95%, 12/25/29 | &nbsp;&nbsp; 589 | 582784 |
| Series K159, Class A2, 3.95%, 11/25/30<sup>(a)</sup> | &nbsp;&nbsp; 833 | 803025 |
| Series K735, Class A2, 2.86%, 05/25/26 | &nbsp;&nbsp; 483 | 471843 |
| Series K737, Class AM, 2.10%, 10/25/26 | &nbsp;&nbsp; 300 | 285939 |
| Series K740, Class A2, 1.47%, 09/25/27 | &nbsp;&nbsp; 1400 | 1286034 |
| Series K741, Class A2, 1.60%, 12/25/27 | &nbsp;&nbsp; 1120 | 1026639 |
| Series K742, Class A2, 1.76%, 03/25/28 | &nbsp;&nbsp; 1000 | 915997 |
| Series K742, Class AM, 1.37%, 04/25/28 | &nbsp;&nbsp; 1400 | 1257479 |
| Federal National Mortgage Association-ACES |  |  |
| Series 2013-M6, Class 1A2, 3.39%, 02/25/43<sup>(a)</sup> | &nbsp;&nbsp; 128 | 122047 |
| Series 2016-M6, Class A2, 2.49%, 05/25/26 | &nbsp;&nbsp; 234 | 226495 |
| Series 2016-M9, Class A2, 2.29%, 06/25/26 | &nbsp;&nbsp; 1825 | 1765048 |
| Series 2017, Class A2, 2.96%, 09/25/27<sup>(a)</sup> | &nbsp;&nbsp; 885 | 852783 |
| Series 2017-M11, Class A2, 2.98%, 08/25/29 | &nbsp;&nbsp; 946 | 886054 |
| Series 2017-M3, Class A2, 2.46%, 12/25/26<sup>(a)</sup> | &nbsp;&nbsp; 611 | 587694 |
| Series 2017-M4, Class A2, 2.55%, 12/25/26<sup>(a)</sup> | &nbsp;&nbsp; 651 | 626126 |
| Series 2017-M7, Class A2, 2.96%, 02/25/27<sup>(a)</sup> | &nbsp;&nbsp; 845 | 817405 |
| Series 2017-M8, Class A2, 3.06%, 05/25/27<sup>(a)</sup> | &nbsp;&nbsp; 1064 | 1028981 |
| Series 2018-M1, Class A2, 2.99%, 12/25/27<sup>(a)</sup> | &nbsp;&nbsp; 2258 | 2167919 |
| Series 2018-M10, Class A2, 3.36%, 07/25/28<sup>(a)</sup> | &nbsp;&nbsp; 2342 | 2258904 |
| Series 2018-M13, Class A2, 3.74%, 09/25/30<sup>(a)</sup> | &nbsp;&nbsp; 74 | 70969 |
| Series 2018-M7, Class A2, 3.03%, 03/25/28<sup>(a)</sup> | &nbsp;&nbsp; 719 | 689017 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Series 2019-M1, Class A2, 3.54%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; $837 | $809991 |
| Series 2019-M2, Class A2, 3.62%, 11/25/28<sup>(a)</sup> | &nbsp;&nbsp; 1795 | 1741254 |
| Series 2019-M4, Class A2, 3.61%, 02/25/31 | &nbsp;&nbsp; 1138 | 1070202 |
| Series 2019-M5, Class A2, 3.27%, 02/25/29 | &nbsp;&nbsp; 2334 | 2229225 |
| Series 2019-M7, Class A2, 3.14%, 04/25/29 | &nbsp;&nbsp; 2341 | 2214037 |
| Series 2019-M9, Class A2, 2.94%, 06/25/29 | &nbsp;&nbsp; 3047 | 2871070 |
| Series 2020-M5, Class A2, 2.21%, 01/25/30 | &nbsp;&nbsp; 2250 | 2018588 |
| Series 2021-M17, Class A2, 1.71%, 07/25/31<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 1669235 |
| Series 2022-M1, Class A2, 1.67%, 10/25/31<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 1642952 |
|  |  | 144535289 |
| **Total U.S. Government Agency Obligations — 31.7%** <br>**(Cost: $156,597,566)** | **Total U.S. Government Agency Obligations — 31.7%** <br>**(Cost: $156,597,566)** | 144535289 |
| **Total Long-Term Investments — 99.1%** <br>**(Cost: $481,852,606)** | **Total Long-Term Investments — 99.1%** <br>**(Cost: $481,852,606)** | 452146677 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.5%** | **Money Market Funds — 0.5%** | **Money Market Funds — 0.5%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 2200000 | 2200000 |
| **Total Short-Term Securities — 0.5%** <br>**(Cost: $2,200,000)** | **Total Short-Term Securities — 0.5%** <br>**(Cost: $2,200,000)** | 2200000 |
| **Total Investments — 99.6%** <br>**(Cost: $484,052,606)** | **Total Investments — 99.6%** <br>**(Cost: $484,052,606)** | 454346677 |
| **Other Assets Less Liabilities — 0.4%** | **Other Assets Less Liabilities — 0.4%** | 1666016 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $456012693 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Affiliate of the Fund.

<sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| $3810000 | $—<br> $(1610000 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $2200000 | 2200000 | $289575 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® CMBS ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $307611388 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $307611388 |
| U.S. Government Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 144535289 | &nbsp;&nbsp; — | &nbsp;&nbsp; 144535289 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2200000 |
|  | &nbsp;&nbsp; $2200000 | &nbsp;&nbsp; $452146677 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $454346677 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® GNMA Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** |
| **Mortgage-Backed Securities — 99.6%** | **Mortgage-Backed Securities — 99.6%** | **Mortgage-Backed Securities — 99.6%** |
| Government National Mortgage Association |  |  |
| 1.50%, 10/20/51 | &nbsp;&nbsp; $401 | &nbsp;&nbsp; $313439 |
| 2.00%, 07/20/50 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 28441 |
| 2.00%, 08/20/50 | &nbsp;&nbsp; 711 | &nbsp;&nbsp; 581095 |
| 2.00%, 09/20/50 | &nbsp;&nbsp; 6570 | &nbsp;&nbsp; 5371305 |
| 2.00%, 12/20/50 | &nbsp;&nbsp; 1284 | &nbsp;&nbsp; 1049023 |
| 2.00%, 01/20/51 | &nbsp;&nbsp; 1957 | &nbsp;&nbsp; 1598585 |
| 2.00%, 02/20/51<sup>(a)</sup> | &nbsp;&nbsp; 18393 | &nbsp;&nbsp; 15031132 |
| 2.00%, 03/20/51 | &nbsp;&nbsp; 5957 | &nbsp;&nbsp; 4867930 |
| 2.00%, 08/20/51 | &nbsp;&nbsp; 1839 | &nbsp;&nbsp; 1501791 |
| 2.00%, 12/20/51 | &nbsp;&nbsp; 13314 | &nbsp;&nbsp; 10870254 |
| 2.00%, 01/20/52 | &nbsp;&nbsp; 7290 | &nbsp;&nbsp; 5951208 |
| 2.00%, 02/20/52 | &nbsp;&nbsp; 4220 | &nbsp;&nbsp; 3442273 |
| 2.50%, 01/15/28 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 1828 |
| 2.50%, 02/20/28 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 2660 |
| 2.50%, 01/20/31 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 57658 |
| 2.50%, 07/20/35 | &nbsp;&nbsp; 1018 | &nbsp;&nbsp; 936696 |
| 2.50%, 04/20/43 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 9962 |
| 2.50%, 12/20/46 | &nbsp;&nbsp; 1054 | &nbsp;&nbsp; 907476 |
| 2.50%, 01/20/47 | &nbsp;&nbsp; 103 | &nbsp;&nbsp; 88981 |
| 2.50%, 06/20/50 | &nbsp;&nbsp; 2852 | &nbsp;&nbsp; 2426802 |
| 2.50%, 08/20/50 | &nbsp;&nbsp; 9685 | &nbsp;&nbsp; 8142889 |
| 2.50%, 09/20/50 | &nbsp;&nbsp; 3522 | &nbsp;&nbsp; 2959970 |
| 2.50%, 01/20/51 | &nbsp;&nbsp; 2979 | &nbsp;&nbsp; 2528703 |
| 2.50%, 02/20/51 | &nbsp;&nbsp; 2241 | &nbsp;&nbsp; 1904613 |
| 2.50%, 05/20/51 | &nbsp;&nbsp; 8676 | &nbsp;&nbsp; 7362506 |
| 2.50%, 07/20/51 | &nbsp;&nbsp; 10184 | &nbsp;&nbsp; 8647381 |
| 2.50%, 08/20/51 | &nbsp;&nbsp; 10963 | &nbsp;&nbsp; 9306699 |
| 2.50%, 09/20/51 | &nbsp;&nbsp; 5410 | &nbsp;&nbsp; 4592390 |
| 2.50%, 04/20/52 | &nbsp;&nbsp; 5536 | &nbsp;&nbsp; 4693268 |
| 2.50%, 11/15/54<sup>(b)</sup> | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 847029 |
| 3.00%, 07/15/27 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1295 |
| 3.00%, 09/15/27 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 2216 |
| 3.00%, 01/20/31 | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 74489 |
| 3.00%, 07/20/31 | &nbsp;&nbsp; 122 | &nbsp;&nbsp; 117331 |
| 3.00%, 02/20/32 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 96177 |
| 3.00%, 09/15/42 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 3998 |
| 3.00%, 10/15/42 | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 25186 |
| 3.00%, 01/20/43 | &nbsp;&nbsp; 279 | &nbsp;&nbsp; 250449 |
| 3.00%, 07/15/43 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 43958 |
| 3.00%, 09/20/43 | &nbsp;&nbsp; 577 | &nbsp;&nbsp; 516779 |
| 3.00%, 01/15/44 | &nbsp;&nbsp; 1612 | &nbsp;&nbsp; 1443521 |
| 3.00%, 08/20/44 | &nbsp;&nbsp; 316 | &nbsp;&nbsp; 283151 |
| 3.00%, 05/20/45 | &nbsp;&nbsp; 226 | &nbsp;&nbsp; 201661 |
| 3.00%, 07/20/45 | &nbsp;&nbsp; 63 | &nbsp;&nbsp; 55970 |
| 3.00%, 10/20/45 | &nbsp;&nbsp; 102 | &nbsp;&nbsp; 90513 |
| 3.00%, 12/20/45 | &nbsp;&nbsp; 1270 | &nbsp;&nbsp; 1131341 |
| 3.00%, 01/20/46 | &nbsp;&nbsp; 409 | &nbsp;&nbsp; 363928 |
| 3.00%, 02/20/46 | &nbsp;&nbsp; 425 | &nbsp;&nbsp; 378417 |
| 3.00%, 03/20/46 | &nbsp;&nbsp; 1562 | &nbsp;&nbsp; 1385806 |
| 3.00%, 04/20/46 | &nbsp;&nbsp; 1037 | &nbsp;&nbsp; 919897 |
| 3.00%, 05/20/46 | &nbsp;&nbsp; 1314 | &nbsp;&nbsp; 1165756 |
| 3.00%, 06/20/46 | &nbsp;&nbsp; 465 | &nbsp;&nbsp; 412297 |
| 3.00%, 08/20/46 | &nbsp;&nbsp; 3051 | &nbsp;&nbsp; 2707713 |
| 3.00%, 09/20/46 | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1774381 |
| 3.00%, 12/15/46 | &nbsp;&nbsp; 121 | &nbsp;&nbsp; 107218 |
| 3.00%, 12/20/46 | &nbsp;&nbsp; 352 | &nbsp;&nbsp; 312299 |
| 3.00%, 02/15/47 | &nbsp;&nbsp; 143 | &nbsp;&nbsp; 127158 |
| 3.00%, 02/20/47 | &nbsp;&nbsp; 398 | &nbsp;&nbsp; 353137 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 3.00%, 06/20/47 | &nbsp;&nbsp; $46 | &nbsp;&nbsp; $40890 |
| 3.00%, 07/20/47 | &nbsp;&nbsp; 797 | &nbsp;&nbsp; 706209 |
| 3.00%, 10/20/47 | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 230677 |
| 3.00%, 02/20/48 | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 32474 |
| 3.00%, 04/20/49 | &nbsp;&nbsp; 1617 | &nbsp;&nbsp; 1434025 |
| 3.00%, 07/20/49 | &nbsp;&nbsp; 329 | &nbsp;&nbsp; 290955 |
| 3.00%, 09/20/49 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 22627 |
| 3.00%, 10/15/49 | &nbsp;&nbsp; 665 | &nbsp;&nbsp; 584006 |
| 3.00%, 11/20/49 | &nbsp;&nbsp; 996 | &nbsp;&nbsp; 878635 |
| 3.00%, 01/20/50 | &nbsp;&nbsp; 915 | &nbsp;&nbsp; 807127 |
| 3.00%, 04/20/50 | &nbsp;&nbsp; 7009 | &nbsp;&nbsp; 6178122 |
| 3.00%, 08/20/50 | &nbsp;&nbsp; 1416 | &nbsp;&nbsp; 1247024 |
| 3.00%, 04/20/51 | &nbsp;&nbsp; 2812 | &nbsp;&nbsp; 2471621 |
| 3.00%, 10/20/51 | &nbsp;&nbsp; 1060 | &nbsp;&nbsp; 930843 |
| 3.00%, 11/20/51 | &nbsp;&nbsp; 1811 | &nbsp;&nbsp; 1589912 |
| 3.00%, 02/20/52 | &nbsp;&nbsp; 3845 | &nbsp;&nbsp; 3374124 |
| 3.00%, 03/20/52 | &nbsp;&nbsp; 357 | &nbsp;&nbsp; 309846 |
| 3.00%, 04/20/52 | &nbsp;&nbsp; 504 | &nbsp;&nbsp; 437797 |
| 3.00%, 07/20/52 | &nbsp;&nbsp; 410 | &nbsp;&nbsp; 360111 |
| 3.00%, 10/20/52 | &nbsp;&nbsp; 3130 | &nbsp;&nbsp; 2745793 |
| 3.00%, 11/20/54<sup>(b)</sup> | &nbsp;&nbsp; 3525 | &nbsp;&nbsp; 3090453 |
| 3.50%, 02/15/26 | &nbsp;&nbsp; 0 <br><sup>(c)</sup><br>| &nbsp;&nbsp; 420 |
| 3.50%, 11/15/26 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 508 |
| 3.50%, 02/20/27 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 1591 |
| 3.50%, 01/20/31 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 25545 |
| 3.50%, 07/20/32 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 67950 |
| 3.50%, 09/15/41 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 3089 |
| 3.50%, 06/20/42 | &nbsp;&nbsp; 2268 | &nbsp;&nbsp; 2098697 |
| 3.50%, 09/15/42 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 6896 |
| 3.50%, 09/20/42 | &nbsp;&nbsp; 97 | &nbsp;&nbsp; 89563 |
| 3.50%, 10/15/42 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 2760 |
| 3.50%, 10/20/42 | &nbsp;&nbsp; 228 | &nbsp;&nbsp; 211387 |
| 3.50%, 11/15/42 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 16884 |
| 3.50%, 11/20/42 | &nbsp;&nbsp; 752 | &nbsp;&nbsp; 695660 |
| 3.50%, 12/20/42 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 73740 |
| 3.50%, 02/20/43 | &nbsp;&nbsp; 668 | &nbsp;&nbsp; 616921 |
| 3.50%, 03/15/43 | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 25092 |
| 3.50%, 05/15/43 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 23661 |
| 3.50%, 06/15/43 | &nbsp;&nbsp; 109 | &nbsp;&nbsp; 100287 |
| 3.50%, 04/20/45 | &nbsp;&nbsp; 222 | &nbsp;&nbsp; 203370 |
| 3.50%, 06/20/45 | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 74793 |
| 3.50%, 09/20/45 | &nbsp;&nbsp; 2434 | &nbsp;&nbsp; 2228417 |
| 3.50%, 11/20/45 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 8116 |
| 3.50%, 12/20/45 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 55850 |
| 3.50%, 03/20/46 | &nbsp;&nbsp; 309 | &nbsp;&nbsp; 283165 |
| 3.50%, 04/20/46 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 44628 |
| 3.50%, 06/20/46 | &nbsp;&nbsp; 470 | &nbsp;&nbsp; 430254 |
| 3.50%, 07/20/46 | &nbsp;&nbsp; 2788 | &nbsp;&nbsp; 2553564 |
| 3.50%, 11/20/46 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 7671 |
| 3.50%, 12/20/46 | &nbsp;&nbsp; 117 | &nbsp;&nbsp; 106938 |
| 3.50%, 01/20/47 | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 38514 |
| 3.50%, 02/20/47 | &nbsp;&nbsp; 103 | &nbsp;&nbsp; 94477 |
| 3.50%, 03/20/47 | &nbsp;&nbsp; 210 | &nbsp;&nbsp; 191782 |
| 3.50%, 04/20/47 | &nbsp;&nbsp; 903 | &nbsp;&nbsp; 824770 |
| 3.50%, 08/20/47 | &nbsp;&nbsp; 411 | &nbsp;&nbsp; 375555 |
| 3.50%, 10/20/47 | &nbsp;&nbsp; 314 | &nbsp;&nbsp; 285399 |
| 3.50%, 12/20/47 | &nbsp;&nbsp; 514 | &nbsp;&nbsp; 466919 |
| 3.50%, 01/20/48 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 12738 |
| 3.50%, 04/20/48 | &nbsp;&nbsp; 88 | &nbsp;&nbsp; 80067 |
| 3.50%, 05/20/48 | &nbsp;&nbsp; 272 | &nbsp;&nbsp; 248296 |
| 3.50%, 09/20/48 | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 26376 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® GNMA Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 3.50%, 11/20/48 | &nbsp;&nbsp; $561 | &nbsp;&nbsp; $512032 |
| 3.50%, 03/20/49 | &nbsp;&nbsp; 6492 | &nbsp;&nbsp; 5920455 |
| 3.50%, 09/20/49 | &nbsp;&nbsp; 173 | &nbsp;&nbsp; 157660 |
| 3.50%, 10/20/49 | &nbsp;&nbsp; 211 | &nbsp;&nbsp; 191928 |
| 3.50%, 04/20/50 | &nbsp;&nbsp; 3109 | &nbsp;&nbsp; 2827107 |
| 3.50%, 05/20/50 | &nbsp;&nbsp; 312 | &nbsp;&nbsp; 283859 |
| 3.50%, 08/20/52 | &nbsp;&nbsp; 435 | &nbsp;&nbsp; 392928 |
| 3.50%, 11/20/52 | &nbsp;&nbsp; 5097 | &nbsp;&nbsp; 4606911 |
| 3.50%, 12/20/52 | &nbsp;&nbsp; 2949 | &nbsp;&nbsp; 2665548 |
| 3.50%, 11/20/54<sup>(b)</sup> | &nbsp;&nbsp; 2925 | &nbsp;&nbsp; 2643130 |
| 4.00%, 03/20/26 | &nbsp;&nbsp; 0 <br><sup>(c)</sup><br>| &nbsp;&nbsp; 356 |
| 4.00%, 07/20/26 | &nbsp;&nbsp; 0 <br><sup>(c)</sup><br>| &nbsp;&nbsp; 331 |
| 4.00%, 02/15/41 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4902 |
| 4.00%, 03/15/41 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4110 |
| 4.00%, 04/15/41 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 18010 |
| 4.00%, 05/15/41 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4621 |
| 4.00%, 12/15/41 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5009 |
| 4.00%, 01/15/42 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4238 |
| 4.00%, 02/15/42 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 14124 |
| 4.00%, 03/15/42 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 28099 |
| 4.00%, 05/15/42 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 7431 |
| 4.00%, 08/15/42 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 5574 |
| 4.00%, 09/20/42 | &nbsp;&nbsp; 172 | &nbsp;&nbsp; 164761 |
| 4.00%, 04/15/44 | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 21515 |
| 4.00%, 05/15/44 | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 35013 |
| 4.00%, 08/20/44 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19153 |
| 4.00%, 10/20/44 | &nbsp;&nbsp; 218 | &nbsp;&nbsp; 207140 |
| 4.00%, 03/20/45 | &nbsp;&nbsp; 884 | &nbsp;&nbsp; 840635 |
| 4.00%, 08/15/45 | &nbsp;&nbsp; 2463 | &nbsp;&nbsp; 2323780 |
| 4.00%, 08/20/45 | &nbsp;&nbsp; 346 | &nbsp;&nbsp; 328042 |
| 4.00%, 09/20/45 | &nbsp;&nbsp; 5395 | &nbsp;&nbsp; 5119817 |
| 4.00%, 10/20/45 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4090 |
| 4.00%, 01/20/46 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 6916 |
| 4.00%, 03/20/46 | &nbsp;&nbsp; 84 | &nbsp;&nbsp; 79324 |
| 4.00%, 07/20/46 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 7680 |
| 4.00%, 09/20/46 | &nbsp;&nbsp; 244 | &nbsp;&nbsp; 229821 |
| 4.00%, 11/20/46 | &nbsp;&nbsp; 96 | &nbsp;&nbsp; 90332 |
| 4.00%, 12/15/46 | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 14682 |
| 4.00%, 05/20/47 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 22645 |
| 4.00%, 06/20/47 | &nbsp;&nbsp; 1371 | &nbsp;&nbsp; 1291744 |
| 4.00%, 07/20/47 | &nbsp;&nbsp; 276 | &nbsp;&nbsp; 260522 |
| 4.00%, 08/20/47 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5023 |
| 4.00%, 11/20/47 | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 77468 |
| 4.00%, 03/20/48 | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 49344 |
| 4.00%, 04/20/48 | &nbsp;&nbsp; 347 | &nbsp;&nbsp; 326433 |
| 4.00%, 05/20/48 | &nbsp;&nbsp; 2782 | &nbsp;&nbsp; 2617786 |
| 4.00%, 06/20/48 | &nbsp;&nbsp; 1005 | &nbsp;&nbsp; 945598 |
| 4.00%, 07/20/48 | &nbsp;&nbsp; 297 | &nbsp;&nbsp; 280262 |
| 4.00%, 11/20/48 | &nbsp;&nbsp; 442 | &nbsp;&nbsp; 415612 |
| 4.00%, 09/15/49 | &nbsp;&nbsp; 162 | &nbsp;&nbsp; 151788 |
| 4.00%, 01/20/50 | &nbsp;&nbsp; 392 | &nbsp;&nbsp; 368833 |
| 4.00%, 02/20/50 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 8087 |
| 4.00%, 09/20/52 | &nbsp;&nbsp; 817 | &nbsp;&nbsp; 761414 |
| 4.00%, 10/20/52 | &nbsp;&nbsp; 2086 | &nbsp;&nbsp; 1943407 |
| 4.00%, 12/20/52 | &nbsp;&nbsp; 523 | &nbsp;&nbsp; 487448 |
| 4.00%, 06/20/53 | &nbsp;&nbsp; 2520 | &nbsp;&nbsp; 2348057 |
| 4.00%, 11/15/54<sup>(b)</sup> | &nbsp;&nbsp; 675 | &nbsp;&nbsp; 628330 |
| 4.50%, 08/15/39 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 64794 |
| 4.50%, 07/15/40 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14414 |
| 4.50%, 08/15/40 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 25080 |
| 4.50%, 07/20/41 | &nbsp;&nbsp; 1223 | &nbsp;&nbsp; 1199737 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 4.50%, 11/20/45 | &nbsp;&nbsp; $161 | &nbsp;&nbsp; $157120 |
| 4.50%, 08/20/46 | &nbsp;&nbsp; 267 | &nbsp;&nbsp; 260612 |
| 4.50%, 09/20/46 | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 41816 |
| 4.50%, 10/20/46 | &nbsp;&nbsp; 44 | &nbsp;&nbsp; 43091 |
| 4.50%, 11/20/46 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 43639 |
| 4.50%, 04/20/47 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4238 |
| 4.50%, 06/20/47 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5084 |
| 4.50%, 07/20/47 | &nbsp;&nbsp; 1827 | &nbsp;&nbsp; 1769604 |
| 4.50%, 02/20/48 | &nbsp;&nbsp; 255 | &nbsp;&nbsp; 246237 |
| 4.50%, 06/20/48 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 16099 |
| 4.50%, 07/20/48 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 101532 |
| 4.50%, 08/20/48 | &nbsp;&nbsp; 92 | &nbsp;&nbsp; 88548 |
| 4.50%, 09/20/48 | &nbsp;&nbsp; 1045 | &nbsp;&nbsp; 1009458 |
| 4.50%, 10/20/48 | &nbsp;&nbsp; 738 | &nbsp;&nbsp; 713260 |
| 4.50%, 12/20/48 | &nbsp;&nbsp; 773 | &nbsp;&nbsp; 746380 |
| 4.50%, 01/20/49 | &nbsp;&nbsp; 521 | &nbsp;&nbsp; 502193 |
| 4.50%, 03/20/49 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12308 |
| 4.50%, 06/20/49 | &nbsp;&nbsp; 503 | &nbsp;&nbsp; 486292 |
| 4.50%, 08/20/49 | &nbsp;&nbsp; 153 | &nbsp;&nbsp; 147980 |
| 4.50%, 10/20/49 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 105999 |
| 4.50%, 01/20/50 | &nbsp;&nbsp; 593 | &nbsp;&nbsp; 573548 |
| 4.50%, 08/20/52 | &nbsp;&nbsp; 397 | &nbsp;&nbsp; 379490 |
| 4.50%, 10/20/52 | &nbsp;&nbsp; 1540 | &nbsp;&nbsp; 1472028 |
| 4.50%, 03/20/53 | &nbsp;&nbsp; 5806 | &nbsp;&nbsp; 5548399 |
| 4.50%, 06/20/53 | &nbsp;&nbsp; 4463 | &nbsp;&nbsp; 4261723 |
| 4.50%, 07/20/53 | &nbsp;&nbsp; 1209 | &nbsp;&nbsp; 1154012 |
| 4.50%, 11/20/54<sup>(b)</sup> | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 238607 |
| 5.00%, 07/15/39 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15298 |
| 5.00%, 07/20/42 | &nbsp;&nbsp; 88 | &nbsp;&nbsp; 88243 |
| 5.00%, 07/20/46 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34613 |
| 5.00%, 04/20/48 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35158 |
| 5.00%, 05/20/48 | &nbsp;&nbsp; 186 | &nbsp;&nbsp; 183886 |
| 5.00%, 11/20/48 | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 42379 |
| 5.00%, 12/20/48 | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 40705 |
| 5.00%, 01/20/49 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 118679 |
| 5.00%, 04/20/49 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 7451 |
| 5.00%, 09/20/50 | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 169541 |
| 5.00%, 07/20/52 | &nbsp;&nbsp; 3587 | &nbsp;&nbsp; 3510765 |
| 5.00%, 08/20/52 | &nbsp;&nbsp; 847 | &nbsp;&nbsp; 828557 |
| 5.00%, 09/20/52 | &nbsp;&nbsp; 1814 | &nbsp;&nbsp; 1775203 |
| 5.00%, 12/20/52 | &nbsp;&nbsp; 3086 | &nbsp;&nbsp; 3020463 |
| 5.00%, 01/20/53 | &nbsp;&nbsp; 861 | &nbsp;&nbsp; 842461 |
| 5.00%, 04/20/53 | &nbsp;&nbsp; 2933 | &nbsp;&nbsp; 2866282 |
| 5.00%, 05/20/53 | &nbsp;&nbsp; 3257 | &nbsp;&nbsp; 3182678 |
| 5.00%, 06/20/53 | &nbsp;&nbsp; 1099 | &nbsp;&nbsp; 1074282 |
| 5.00%, 07/20/53 | &nbsp;&nbsp; 4324 | &nbsp;&nbsp; 4226370 |
| 5.00%, 11/15/54<sup>(b)</sup> | &nbsp;&nbsp; 2093 | &nbsp;&nbsp; 2044452 |
| 5.50%, 10/15/38 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10857 |
| 5.50%, 07/20/40 | &nbsp;&nbsp; 147 | &nbsp;&nbsp; 151466 |
| 5.50%, 12/20/52 | &nbsp;&nbsp; 2935 | &nbsp;&nbsp; 2923999 |
| 5.50%, 01/20/53 | &nbsp;&nbsp; 1211 | &nbsp;&nbsp; 1208169 |
| 5.50%, 03/20/53 | &nbsp;&nbsp; 689 | &nbsp;&nbsp; 686687 |
| 5.50%, 04/20/53 | &nbsp;&nbsp; 9675 | &nbsp;&nbsp; 9632324 |
| 5.50%, 05/20/53 | &nbsp;&nbsp; 446 | &nbsp;&nbsp; 444167 |
| 5.50%, 06/20/53 | &nbsp;&nbsp; 177 | &nbsp;&nbsp; 175927 |
| 5.50%, 11/20/53 | &nbsp;&nbsp; 2576 | &nbsp;&nbsp; 2564441 |
| 5.50%, 08/20/54 | &nbsp;&nbsp; 1287 | &nbsp;&nbsp; 1280240 |
| 5.50%, 11/15/54<sup>(b)</sup> | &nbsp;&nbsp; 8250 | &nbsp;&nbsp; 8203898 |
| 6.00%, 09/20/38 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 14583 |
| 6.00%, 02/20/53 | &nbsp;&nbsp; 268 | &nbsp;&nbsp; 270498 |
| 6.00%, 09/20/53 | &nbsp;&nbsp; 3024 | &nbsp;&nbsp; 3050865 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® GNMA Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 6.00%, 10/20/53 | &nbsp;&nbsp; $1454 | &nbsp;&nbsp; $1466546 |
| 6.00%, 12/20/53 | &nbsp;&nbsp; 1267 | &nbsp;&nbsp; 1278545 |
| 6.00%, 06/20/54 | &nbsp;&nbsp; 2168 | &nbsp;&nbsp; 2184670 |
| 6.00%, 07/20/54 | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 2418703 |
| 6.00%, 08/20/54 | &nbsp;&nbsp; 4697 | &nbsp;&nbsp; 4733833 |
| 6.00%, 09/20/54 | &nbsp;&nbsp; 1512 | &nbsp;&nbsp; 1524227 |
| 6.00%, 11/15/54<sup>(b)</sup> | &nbsp;&nbsp; 4315 | &nbsp;&nbsp; 4346368 |
| 6.50%, 06/20/54 | &nbsp;&nbsp; 1351 | &nbsp;&nbsp; 1376105 |
| 6.50%, 07/20/54 | &nbsp;&nbsp; 6265 | &nbsp;&nbsp; 6379921 |
| 6.50%, 08/20/54 | &nbsp;&nbsp; 4151 | &nbsp;&nbsp; 4227140 |
| 6.50%, 11/15/54<sup>(b)</sup> | &nbsp;&nbsp; 1810 | &nbsp;&nbsp; 1839108 |
|  |  | &nbsp;&nbsp; 311550550 |
| **Total Long-Term Investments — 99.6%** <br>**(Cost: $335,069,791)** | **Total Long-Term Investments — 99.6%** <br>**(Cost: $335,069,791)** | &nbsp;&nbsp; 311550550 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 7.8%** | **Money Market Funds — 7.8%** | **Money Market Funds — 7.8%** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 24400000 | &nbsp;&nbsp; 24400000 |
| **Total Short-Term Securities — 7.8%** <br>**(Cost: $24,400,000)** | **Total Short-Term Securities — 7.8%** <br>**(Cost: $24,400,000)** | &nbsp;&nbsp; 24400000 |
| **Total Investments — 107.4%** <br>**(Cost: $359,469,791)** | **Total Investments — 107.4%** <br>**(Cost: $359,469,791)** | &nbsp;&nbsp; 335950550 |
| **Liabilities in Excess of Other Assets — (7.4)%** | **Liabilities in Excess of Other Assets — (7.4)%** | &nbsp;&nbsp; (23095522)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $312855028 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of the security has been pledged as collateral in connection with outstanding TBA commitments. 

<sup>(b)</sup> Represents or includes a TBA transaction.

<sup>(c)</sup> Rounds to less than 1,000.

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| $38140000 | $—<br> $(13740000 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $24400000 | 24400000 | $1335841 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® GNMA Bond ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| U.S. Government Agency Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $311550550 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $311550550 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 24400000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 24400000 |
|  | &nbsp;&nbsp; $24400000 | &nbsp;&nbsp; $311550550 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $335950550 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Treasury Floating Rate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations** | **U.S. Government Obligations** | **U.S. Government Obligations** |
| **U.S. Government Obligations — 99.5%** | **U.S. Government Obligations — 99.5%** | **U.S. Government Obligations — 99.5%** |
| U.S. Treasury Floating Rate Note |  |  |
| 4.69%, 07/31/25, (3-mo. Treasury money market <br> yield + 0.125%)<sup>(a)</sup><br>| &nbsp;&nbsp; $1015268 | $1014530098 |
| 4.71%, 04/30/26, (3-mo.Treasury money market <br> yield + 0.150%)<sup>(a)</sup><br>| &nbsp;&nbsp; 862494 | 861476976 |
| 4.73%, 04/30/25, (3-mo. Treasury money market <br> yield + 0.169%)<sup>(a)</sup><br>| &nbsp;&nbsp; 722763 | 722579316 |
| 4.73%, 10/31/25, (3-mo. Treasury money market <br> yield + 0.170%)<sup>(a)</sup><br>| &nbsp;&nbsp; 947218 | 946741320 |
| 4.74%, 07/31/26, (3-mo.Treasury money market <br> yield + 0.182%)<sup>(a)</sup><br>| &nbsp;&nbsp; 778090 | 777620531 |
| 4.76%, 01/31/25, (3-mo. Treasury money market <br> yield + 0.200%)<sup>(a)</sup><br>| &nbsp;&nbsp; 724697 | 724672839 |
| 4.77%, 10/31/26, (3-mo.Treasury money market <br> yield + 0.205%)<sup>(a)</sup><br>| &nbsp;&nbsp; 1002174 | 1002029557 |
| 4.81%, 01/31/26, (3-mo. Treasury money market <br> yield + 0.245%)<sup>(a)</sup><br>| &nbsp;&nbsp; 912129 | 912283185 |
|  |  | 6961933822 |
| **Total Long-Term Investments — 99.5%** <br>**(Cost: $6,966,052,346)** | **Total Long-Term Investments — 99.5%** <br>**(Cost: $6,966,052,346)** | 6961933822 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.9%** | **Money Market Funds — 1.9%** | **Money Market Funds — 1.9%** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 136570000 | $136570000 |
| **Total Short-Term Securities — 1.9%** <br>**(Cost: $136,570,000)** | **Total Short-Term Securities — 1.9%** <br>**(Cost: $136,570,000)** | 136570000 |
| **Total Investments — 101.4%** <br>**(Cost: $7,102,622,346)** | **Total Investments — 101.4%** <br>**(Cost: $7,102,622,346)** | 7098503822 |
| **Liabilities in Excess of Other Assets — (1.4)%** | **Liabilities in Excess of Other Assets — (1.4)%** | (99646229)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $6998857593 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Affiliate of the Fund.

<sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| $205190000 | $—<br> $(68620000 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $136570000 | 136570000 | $1591835 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| U.S. Government Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6961933822 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6961933822 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 136570000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 136570000 |
|  | &nbsp;&nbsp; $136570000 | &nbsp;&nbsp; $6961933822 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7098503822 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>CMBS ETF <br>| &nbsp;&nbsp; iShares <br>GNMA Bond <br> ETF <br>| &nbsp;&nbsp; iShares <br>Treasury Floating <br> Rate Bond ETF <br>|
| **ASSETS** |  |  |  |
| Investments, at value—unaffiliated<sup>(a)</sup> | $452146677 | $311550550 | $6961933822 |
| Investments, at value—affiliated<sup>(b)</sup> | 2200000 | 24400000 | 136570000 |
| Cash |  | 11026 | 9707 |
| Receivables: |  |  |  |
| Investments sold | 5908873 |  |  |
| Securities lending income—affiliated |  |  | 8 |
| Capital shares sold |  |  | 295561 |
| Dividends—affiliated | 7691 | 90512 | 34779 |
| Interest—unaffiliated | 1378344 | 997779 | 976587 |
| Total assets | 461641585 | 337049867 | 7099820464 |
| **LIABILITIES** |  |  |  |
| Bank overdraft | 1009513 |  |  |
| Payables: |  |  |  |
| Investments purchased | 4520912 | 24169845 | 100073088 |
| Investment advisory fees | 98467 | 24994 | 889783 |
| Total liabilities | 5628892 | 24194839 | 100962871 |
| **Commitments and contingent liabilities** |  |  |  |
| NET ASSETS | $456012693 | $312855028 | $6998857593 |
| **NET ASSETS CONSIST OF** |  |  |  |
| Paid-in capital | $547549428 | $367660075 | $6975884539 |
| Accumulated earnings (loss) | (91536735) | (54805047) | 22973054 |
| NET ASSETS | $456012693 | $312855028 | $6998857593 |
| **NET ASSET VALUE** |  |  |  |
| Shares outstanding | 9600000 | 7200000 | 138300000 |
| Net asset value | $47.50 | $43.45 | $50.61 |
| Shares authorized | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $481852606 | $335069791 | $6966052346 |
| <sup>(b)</sup> Investments, at cost—affiliated | $2200000 | $24400000 | $136570000 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares <br>CMBS ETF <br>| &nbsp;&nbsp; iShares <br>GNMA Bond <br> ETF <br>| &nbsp;&nbsp; iShares <br>Treasury <br> Floating Rate <br> Bond ETF <br>|
| **INVESTMENT INCOME** |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $289575 | &nbsp;&nbsp;&nbsp; $1335841 | &nbsp;&nbsp;&nbsp; $1297498 |
| Interest—unaffiliated | &nbsp;&nbsp; 14693443 | &nbsp;&nbsp;&nbsp; 12456215 | &nbsp;&nbsp;&nbsp; 438189607 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 294337 |
| Total investment income | &nbsp;&nbsp; 14983018 | &nbsp;&nbsp;&nbsp; 13792056 | &nbsp;&nbsp;&nbsp; 439781442 |
| EXPENSES |  |  |  |
| Investment advisory | &nbsp;&nbsp; 1058365 | &nbsp;&nbsp;&nbsp; 340192 | &nbsp;&nbsp;&nbsp; 12258350 |
| Interest expense | &nbsp;&nbsp; 455 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 1058820 | &nbsp;&nbsp;&nbsp; 340192 | &nbsp;&nbsp;&nbsp; 12258350 |
| Less: |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (22907)<br>| &nbsp;&nbsp;&nbsp; — |
| Total expenses after fees waived | &nbsp;&nbsp; 1058820 | &nbsp;&nbsp;&nbsp; 317285 | &nbsp;&nbsp;&nbsp; 12258350 |
| Net investment income | &nbsp;&nbsp; 13924198 | &nbsp;&nbsp;&nbsp; 13474771 | &nbsp;&nbsp;&nbsp; 427523092 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (10425994)<br>| &nbsp;&nbsp;&nbsp; (5953186)<br>| &nbsp;&nbsp;&nbsp; 41043 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1602644 |
|  | &nbsp;&nbsp; (10425994)<br>| &nbsp;&nbsp;&nbsp; (5953186)<br>| &nbsp;&nbsp;&nbsp; 1643687 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 34988131 | &nbsp;&nbsp;&nbsp; 24988307 | &nbsp;&nbsp;&nbsp; (7731080)<br>|
|  | &nbsp;&nbsp; 34988131 | &nbsp;&nbsp;&nbsp; 24988307 | &nbsp;&nbsp;&nbsp; (7731080)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; 24562137 | &nbsp;&nbsp;&nbsp; 19035121 | &nbsp;&nbsp;&nbsp; (6087393)<br>|
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $38486335 | &nbsp;&nbsp;&nbsp; $32509892 | &nbsp;&nbsp;&nbsp; $421435699 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>CMBS ETF  | iShares <br>CMBS ETF  | iShares <br>GNMA Bond ETF  | iShares <br>GNMA Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $13924198 | &nbsp;&nbsp;&nbsp; $14549085 | &nbsp;&nbsp;&nbsp; $13474771 | &nbsp;&nbsp;&nbsp; $11524189 |
| Net realized loss | &nbsp;&nbsp; (10425994)<br>| &nbsp;&nbsp;&nbsp; (34068089)<br>| &nbsp;&nbsp;&nbsp; (5953186)<br>| &nbsp;&nbsp;&nbsp; (13871507)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 34988131 | &nbsp;&nbsp;&nbsp; 32379549 | &nbsp;&nbsp;&nbsp; 24988307 | &nbsp;&nbsp;&nbsp; 3241248 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 38486335 | &nbsp;&nbsp;&nbsp; 12860545 | &nbsp;&nbsp;&nbsp; 32509892 | &nbsp;&nbsp;&nbsp; 893930 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (13665327)<br>| &nbsp;&nbsp;&nbsp; (14866531)<br>| &nbsp;&nbsp;&nbsp; (13384461)<br>| &nbsp;&nbsp;&nbsp; (11052215)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 48883245 | &nbsp;&nbsp;&nbsp; (201514842)<br>| &nbsp;&nbsp;&nbsp; (22760691)<br>| &nbsp;&nbsp;&nbsp; (3629066)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 73704253 | &nbsp;&nbsp;&nbsp; (203520828)<br>| &nbsp;&nbsp;&nbsp; (3635260)<br>| &nbsp;&nbsp;&nbsp; (13787351)<br>|
| Beginning of year | &nbsp;&nbsp; 382308440 | &nbsp;&nbsp;&nbsp; 585829268 | &nbsp;&nbsp;&nbsp; 316490288 | &nbsp;&nbsp;&nbsp; 330277639 |
| End of year | &nbsp;&nbsp; $456012693 | &nbsp;&nbsp;&nbsp; $382308440 | &nbsp;&nbsp;&nbsp; $312855028 | &nbsp;&nbsp;&nbsp; $316490288 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>Treasury Floating Rate Bond ETF  | iShares <br>Treasury Floating Rate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |
| **OPERATIONS** |  |  |
| Net investment income | &nbsp;&nbsp; $427523092 | &nbsp;&nbsp;&nbsp; $327849084 |
| Net realized gain | &nbsp;&nbsp; 1643687 | &nbsp;&nbsp;&nbsp; 440950 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (7731080)<br>| &nbsp;&nbsp;&nbsp; 4271385 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 421435699 | &nbsp;&nbsp;&nbsp; 332561419 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (449238525)<br>| &nbsp;&nbsp;&nbsp; (289268329)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (3819747225)<br>| &nbsp;&nbsp;&nbsp; 7020292037 |
| *NET ASSETS* |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (3847550051)<br>| &nbsp;&nbsp;&nbsp; 7063585127 |
| Beginning of year | &nbsp;&nbsp; 10846407644 | &nbsp;&nbsp;&nbsp; 3782822517 |
| End of year | &nbsp;&nbsp; $6998857593 | &nbsp;&nbsp;&nbsp; $10846407644 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares CMBS ETF  | iShares CMBS ETF  | iShares CMBS ETF  | iShares CMBS ETF  | iShares CMBS ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $44.45 | &nbsp;&nbsp;&nbsp; $45.06 | &nbsp;&nbsp;&nbsp; $53.62 | &nbsp;&nbsp;&nbsp; $54.88 | &nbsp;&nbsp;&nbsp; $53.42 |
| Net investment income<sup>(a)</sup> | 1.54 | &nbsp;&nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.39 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 3.03 | &nbsp;&nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp;&nbsp; (8.45)<br>| &nbsp;&nbsp;&nbsp; (1.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.47 |
| Net increase (decrease) from investment operations | 4.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp; (7.26)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;2.86 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.52)<br>| &nbsp;&nbsp;&nbsp; (1.34)<br>| &nbsp;&nbsp;&nbsp; (1.18)<br>| &nbsp;&nbsp;&nbsp; (1.22)<br>| &nbsp;&nbsp;&nbsp; (1.40)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (1.52)<br>| &nbsp;&nbsp;&nbsp; (1.34)<br>| &nbsp;&nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp;&nbsp; (1.43)<br>| &nbsp;&nbsp;&nbsp; (1.40)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $47.50 | &nbsp;&nbsp;&nbsp; $44.45 | &nbsp;&nbsp;&nbsp; $45.06 | &nbsp;&nbsp;&nbsp; $53.62 | &nbsp;&nbsp;&nbsp; $54.88 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 10.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.58<br> %<br>| &nbsp;&nbsp;&nbsp; (13.75)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.42<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>|
| Net investment income | 3.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.88<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.58<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $456013 | &nbsp;&nbsp;&nbsp; $382308 | &nbsp;&nbsp;&nbsp; $585829 | &nbsp;&nbsp;&nbsp; $820386 | &nbsp;&nbsp;&nbsp; $491195 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 33<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>| &nbsp;&nbsp;&nbsp; 21<br> %<br>| &nbsp;&nbsp;&nbsp; 13<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares GNMA Bond ETF  | iShares GNMA Bond ETF  | iShares GNMA Bond ETF  | iShares GNMA Bond ETF  | iShares GNMA Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $40.84 | &nbsp;&nbsp;&nbsp; $42.62 | &nbsp;&nbsp;&nbsp; $49.88 | &nbsp;&nbsp;&nbsp; $50.93 | &nbsp;&nbsp;&nbsp; $50.35 |
| Net investment income<sup>(a)</sup> | 1.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.63 | &nbsp;&nbsp;&nbsp; (1.82)<br>| &nbsp;&nbsp;&nbsp; (7.31)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.82 |
| Net increase (decrease) from investment operations | 4.35 | &nbsp;&nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp;&nbsp; (6.65)<br>| &nbsp;&nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.59 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp;&nbsp; (1.40)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp;&nbsp; (0.82)<br>|
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>|
| Total distributions | &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp;&nbsp; (1.40)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp;&nbsp; (1.01)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $43.45 | &nbsp;&nbsp;&nbsp; $40.84 | &nbsp;&nbsp;&nbsp; $42.62 | &nbsp;&nbsp;&nbsp; $49.88 | &nbsp;&nbsp;&nbsp; $50.93 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 10.75<br> %<br>| &nbsp;&nbsp;&nbsp; (1.05)%<br>| &nbsp;&nbsp;&nbsp; (13.42)%<br>| &nbsp;&nbsp;&nbsp; (1.14)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.18<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>|
| Total expenses after fees waived | 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.13<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.12<br> %<br>|
| Net investment income | 3.96<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.51<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $312855 | &nbsp;&nbsp;&nbsp; $316490 | &nbsp;&nbsp;&nbsp; $330278 | &nbsp;&nbsp;&nbsp; $483847 | &nbsp;&nbsp;&nbsp; $481283 |
| Portfolio turnover rate<sup>(f)(g)</sup> | &nbsp;&nbsp; 283<br> %<br>| &nbsp;&nbsp;&nbsp; 327<br> %<br>| &nbsp;&nbsp;&nbsp; 313<br> %<br>| &nbsp;&nbsp;&nbsp; 498<br> %<br>| &nbsp;&nbsp;&nbsp; 699<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |
| <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Treasury Floating Rate Bond ETF  | iShares Treasury Floating Rate Bond ETF  | iShares Treasury Floating Rate Bond ETF  | iShares Treasury Floating Rate Bond ETF  | iShares Treasury Floating Rate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $50.73 | &nbsp;&nbsp;&nbsp; $50.50 | &nbsp;&nbsp;&nbsp; $50.26 | &nbsp;&nbsp;&nbsp; $50.29 | &nbsp;&nbsp;&nbsp; $50.28 |
| Net investment income (loss)<sup>(a)</sup> | 2.64 | &nbsp;&nbsp;&nbsp;&nbsp;2.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.31 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Net increase (decrease) from investment operations | 2.61 | &nbsp;&nbsp;&nbsp;&nbsp;2.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.39 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (2.73)<br>| &nbsp;&nbsp;&nbsp; (2.26)<br>| &nbsp;&nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp; (0.38)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.00 )<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; (0.00 )<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (2.73)<br>| &nbsp;&nbsp;&nbsp; (2.26)<br>| &nbsp;&nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp; (0.38)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $50.61 | &nbsp;&nbsp;&nbsp; $50.73 | &nbsp;&nbsp;&nbsp; $50.50 | &nbsp;&nbsp;&nbsp; $50.26 | &nbsp;&nbsp;&nbsp; $50.29 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 5.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.22<br> %<br>| &nbsp;&nbsp;&nbsp; (0.04)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>|
| Net investment income (loss) | 5.23<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.08<br> %<br>| &nbsp;&nbsp;&nbsp; (0.02)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.62<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $6998858 | &nbsp;&nbsp;&nbsp; $10846408 | &nbsp;&nbsp;&nbsp; $3782823 | &nbsp;&nbsp;&nbsp; $261364 | &nbsp;&nbsp;&nbsp; $407351 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 28<br> %<br>| &nbsp;&nbsp;&nbsp; 14<br> %<br>| &nbsp;&nbsp;&nbsp; 6<br> %<br>| &nbsp;&nbsp;&nbsp; 74<br> %<br>| &nbsp;&nbsp;&nbsp; 44<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| CMBS | &nbsp;&nbsp; Diversified |
| GNMA Bond | &nbsp;&nbsp; Diversified |
| Treasury Floating Rate Bond | &nbsp;&nbsp; Diversified |

---

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Fund is obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. SECURITIES AND OTHER INVESTMENTS***

**Asset-Backed and Mortgage-Backed Securities:** Asset-backed securities are generally issued as pass-through certificates or as debt instruments. Asset-backed securities issued as pass-through certificates represent undivided fractional ownership interests in an underlying pool of assets. Asset-backed securities issued as debt instruments, which are also known as collateralized obligations, are typically issued as the debt of a special purpose entity organized solely for the purpose of owning such assets and issuing such debt. Asset-backed securities are often backed by a pool of assets representing the obligations of a number of different parties. The yield characteristics of certain asset-backed securities may differ from traditional debt securities. One such major difference is that all or a principal part of the obligations may be prepaid at any time because the underlying assets (i.e., loans) may be prepaid at any time. As a result, a decrease in interest rates in the market may result in increases in the level of prepayments as borrowers, particularly mortgagors, refinance and repay their loans. An increased prepayment rate with respect to an asset-backed security will have the effect of shortening the maturity of the security. In addition, a fund may subsequently have to reinvest the proceeds at lower interest rates. If a fund has purchased such an asset-backed security at a premium, a faster than anticipated prepayment rate could result in a loss of principal to the extent of the premium paid.

For mortgage pass-through securities (the "Mortgage Assets") there are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. For example, mortgage-related securities guaranteed by Ginnie Mae are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. However, mortgage-related securities issued by Freddie Mac and Fannie Mae, including Freddie Mac and Fannie Mae guaranteed mortgage pass-through certificates, which are solely the obligations of Freddie Mac and Fannie Mae, are not backed by or entitled to the full faith and credit of the United States, but are supported by the right of the issuer to borrow from the U.S. Treasury.

Non-agency mortgage-backed securities are securities issued by non-governmental issuers and have no direct or indirect government guarantees of payment and are subject to various risks. Non-agency mortgage loans are obligations of the borrowers thereunder only and are not typically insured or guaranteed by any other person or entity. The ability of a borrower to repay a loan is dependent upon the income or assets of the borrower. A number of factors, including a general economic downturn, acts of God, terrorism, social unrest and civil disturbances, may impair a borrower's ability to repay its loans.

**Mortgage Dollar Roll Transactions:** The Funds may sell TBA mortgage-backed securities and simultaneously contract to repurchase substantially similar (i.e., same type, coupon and maturity) securities on a specific future date at an agreed upon price. During the period between the sale and repurchase, a fund is not entitled to receive interest

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

and principal payments on the securities sold. Mortgage dollar roll transactions are treated as purchases and sales and a fund realizes gains and losses on these transactions. Mortgage dollar rolls involve the risk that the market value of the securities that a fund is required to purchase may decline below the agreed upon repurchase price of those securities.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| CMBS | 0.25% |
| GNMA Bond | 0.10 |
| Treasury Floating Rate Bond | 0.15 |

---

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statement of Operations does not include acquired fund fees and expenses.

For the iShares GNMA Bond ETF, BFA has contractually agreed to waive a portion of its investment advisory fees for the Fund through February 28, 2029 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investments in other registered investment companies.

This amount is included in investment advisory fees waived in the Statement of Operation. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| GNMA Bond | &nbsp;&nbsp; $22907 |

---

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 08, 2024 (date of conversion for iShares CMBS ETF, iShares GNMA Bond ETF and iShares Treasury Floating Rate Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| Treasury Floating Rate Bond | &nbsp;&nbsp; $83249 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, including mortgage dollar rolls and excluding short-term securities and in-kind transactions, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *U.S. Government Securities* | *U.S. Government Securities* | *Other Securities* | *Other Securities* |
| *iShares ETF* | &nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* | &nbsp;&nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* |
| CMBS | &nbsp;&nbsp; $93572107 | &nbsp;&nbsp;&nbsp; $63373179 | &nbsp;&nbsp;&nbsp; $94266966 | &nbsp;&nbsp;&nbsp; $77007304 |
| GNMA Bond | &nbsp;&nbsp; 951253738 | &nbsp;&nbsp;&nbsp; 974049195 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Treasury Floating Rate Bond | &nbsp;&nbsp; 4742917681 | &nbsp;&nbsp;&nbsp; 1989785537 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| Treasury Floating Rate Bond | &nbsp;&nbsp; $1823369590 | &nbsp;&nbsp;&nbsp; $5592800923 |

---

***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| Treasury Floating Rate Bond | &nbsp;&nbsp; $1602644 | &nbsp;&nbsp;&nbsp; $(1602644) |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| CMBS |  |  |
| Ordinary income | &nbsp;&nbsp; $13665327 | &nbsp;&nbsp;&nbsp; $14866531 |
| GNMA Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $13384461 | &nbsp;&nbsp;&nbsp; $11052215 |
| Treasury Floating Rate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $449238525 | &nbsp;&nbsp;&nbsp; $289268329 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| CMBS | &nbsp;&nbsp; $1334017 | &nbsp;&nbsp;&nbsp; $(62658972) | &nbsp;&nbsp;&nbsp; $(30211780) | &nbsp;&nbsp;&nbsp; $(91536735) |
| GNMA Bond | &nbsp;&nbsp; 1057415 | &nbsp;&nbsp;&nbsp; (31758635) | &nbsp;&nbsp;&nbsp; (24103827) | &nbsp;&nbsp;&nbsp; (54805047) |
| Treasury Floating Rate Bond | &nbsp;&nbsp; 27213852 | &nbsp;&nbsp;&nbsp; (122274) | &nbsp;&nbsp;&nbsp; (4118524) | &nbsp;&nbsp;&nbsp; 22973054 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and TBA transactions.

For the year ended October 31, 2024, the iShares Treasury Floating Rate Bond ETF utilized $41,043 of its capital loss carryforwards.

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CMBS | &nbsp;&nbsp; $484558457 | &nbsp;&nbsp;&nbsp; $1602677 | &nbsp;&nbsp;&nbsp; $(31814457) | &nbsp;&nbsp;&nbsp; $(30211780) |
| GNMA Bond | &nbsp;&nbsp; 360054377 | &nbsp;&nbsp;&nbsp; 899639 | &nbsp;&nbsp;&nbsp; (25003466) | &nbsp;&nbsp;&nbsp; (24103827) |
| Treasury Floating Rate Bond | &nbsp;&nbsp; 7102622346 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (4118524) | &nbsp;&nbsp;&nbsp; (4118524) |

---

***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

Certain Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as "junk bonds") or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

Certain Funds invest a significant portion of their assets in securities backed by commercial or residential mortgage loans or in issuers that hold mortgage and other asset-backed securities. When a fund concentrates its investments in this manner, it assumes a greater risk of prepayment or payment extension by securities issuers. Changes in economic conditions, including delinquencies and/or defaults on assets underlying these securities, can affect the value, income and/or liquidity of such positions. Investment percentages in these securities are presented in the Schedule of Investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| CMBS |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp; $122373344 | &nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; $46266952 |
| Shares redeemed | &nbsp;&nbsp; (1600000)<br>| &nbsp;&nbsp;&nbsp; (73490099)<br>| &nbsp;&nbsp;&nbsp; (5400000)<br>| &nbsp;&nbsp;&nbsp; (247781794)<br>|
|  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; $48883245 | &nbsp;&nbsp;&nbsp; (4400000)<br>| &nbsp;&nbsp;&nbsp; $(201514842)<br>|
| GNMA Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 1950000 | &nbsp;&nbsp;&nbsp; $85742051 | &nbsp;&nbsp;&nbsp; 5850000 | &nbsp;&nbsp;&nbsp; $254480873 |
| Shares redeemed | &nbsp;&nbsp; (2500000)<br>| &nbsp;&nbsp;&nbsp; (108502742)<br>| &nbsp;&nbsp;&nbsp; (5850000)<br>| &nbsp;&nbsp;&nbsp; (258109939)<br>|
|  | &nbsp;&nbsp; (550000)<br>| &nbsp;&nbsp;&nbsp; $(22760691)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(3629066)<br>|
| Treasury Floating Rate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 36800000 | &nbsp;&nbsp;&nbsp; $1859862879 | &nbsp;&nbsp;&nbsp; 158900000 | &nbsp;&nbsp;&nbsp; $8030898754 |
| Shares redeemed | &nbsp;&nbsp; (112300000)<br>| &nbsp;&nbsp;&nbsp; (5679610104)<br>| &nbsp;&nbsp;&nbsp; (20000000)<br>| &nbsp;&nbsp;&nbsp; (1010606717)<br>|
|  | &nbsp;&nbsp; (75500000)<br>| &nbsp;&nbsp;&nbsp; $(3819747225)<br>| &nbsp;&nbsp;&nbsp; 138900000 | &nbsp;&nbsp;&nbsp; $7020292037 |

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements and Additional Information

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the three funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (three of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations for the year ended October 31, 2024, the statements of changes in net assets for each of the two years in the period ended October 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2024 and each of the financial highlights for each of the five years in the period ended October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

iShares CMBS ETF <br> iShares GNMA Bond ETF <br> iShares Treasury Floating Rate Bond ETF

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| CMBS | &nbsp;&nbsp; $74089 |
| GNMA Bond | &nbsp;&nbsp; 208355 |
| Treasury Floating Rate Bond | &nbsp;&nbsp; 427228755 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| CMBS | &nbsp;&nbsp; $13924198 |
| GNMA Bond | &nbsp;&nbsp; 13531874 |
| Treasury Floating Rate Bond | &nbsp;&nbsp; 427228755 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| CMBS | &nbsp;&nbsp; $13924198 |
| GNMA Bond | &nbsp;&nbsp; 13531874 |
| Treasury Floating Rate Bond | &nbsp;&nbsp; 427228755 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares CMBS ETF, iShares GNMA Bond ETF, iShares Treasury Floating Rate Bond ETF (each "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

2024 iShares Annual Financial Statements and Additional Information

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| SOFR | Secured Overnight Financing Rate |

---

Glossary of Terms Used in this Report

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services Limited or ICE Data Indices, LLC nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

![](g938995img64bbf2e91.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares Core 1-5 Year USD Bond ETF \| ISTB \| NASDAQ |
| • iShares Core International Aggregate Bond ETF \| IAGG \| Cboe BZX Exchange |

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------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 137 |
| [Statements of Operations](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 138 |
| [Statements of Changes in Net Assets](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 139 |
| [Financial Highlights](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 140 |
| [Notes to Financial Statements](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 142 |
| [Report of Independent Registered Public Accounting Firm](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 152 |
| [Important Tax Information](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_Tax-annual-Footer-iSharesReport-363_1)  | &nbsp;&nbsp; 153 |
| [Additional Information](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 154 |
| [Board Review and Approval of Investment Advisory Contract](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 155 |
| [Glossary of Terms Used in this Report](#xx_fa58a65c-afa4-40c7-8978-ef007f2194e9_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 160 |

---

------

Schedule of Investments

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| Ally Auto Receivables Trust, 4.14%, 07/16/29 | &nbsp;&nbsp; $600 | $594918 |
| American Express Credit Account Master Trust |  |  |
| 5.15%, 09/15/30 | &nbsp;&nbsp; 1000 | 1020998 |
| 4.65%, 07/15/29 | &nbsp;&nbsp; 1110 | 1114411 |
| Class A, 4.95%, 10/15/27 | &nbsp;&nbsp; 1000 | 1003294 |
| BA Credit Card Trust, 4.93%, 05/15/29 | &nbsp;&nbsp; 1450 | 1465002 |
| Chase Issuance Trust, 5.08%, 09/15/30 | &nbsp;&nbsp; 1000 | 1020234 |
| Discover Card Execution Note Trust, 3.56%, <br> 07/15/27<br>| &nbsp;&nbsp; 2000 | 1984039 |
| Exeter Automobile Receivables Trust |  |  |
| 5.92%, 02/15/30 | &nbsp;&nbsp; 1000 | 1008565 |
| 5.74%, 05/15/29 | &nbsp;&nbsp; 2000 | 2025796 |
| Ford Credit Auto Owner Trust, 5.09%, 12/15/28 | &nbsp;&nbsp; 2100 | 2120423 |
| GM Financial Consumer Automobile <br> Receivables Trust<br>|  |  |
| 4.47%, 02/16/28 | &nbsp;&nbsp; 2000 | 1996929 |
| 5.78%, 08/16/28 | &nbsp;&nbsp; 610 | 620328 |
| Honda Auto Receivables Owner Trust, 4.57%, <br> 03/21/29<br>| &nbsp;&nbsp; 4200 | 4205511 |
| Hyundai Auto Receivables Trust, 5.48%, 04/17/28 | &nbsp;&nbsp; 2000 | 2019786 |
| John Deere Owner Trust |  |  |
| 4.96%, 11/15/28 | &nbsp;&nbsp; 320 | 322462 |
| 4.06%, 06/15/29 | &nbsp;&nbsp; 1430 | 1409292 |
| Santander Drive Auto Receivables Trust, 5.23%, <br> 12/15/28<br>| &nbsp;&nbsp; 430 | 432474 |
| Synchrony Card Funding LLC, 5.54%, 07/15/29 | &nbsp;&nbsp; 3890 | 3942361 |
| Verizon Master Trust, 5.16%, 06/20/29 | &nbsp;&nbsp; 4000 | 4033782 |
| WF Card Issuance Trust, 4.94%, 02/15/29 | &nbsp;&nbsp; 1000 | 1008044 |
| World Omni Auto Receivables Trust |  |  |
| 4.86%, 03/15/29 | &nbsp;&nbsp; 2250 | 2254923 |
| 5.09%, 12/17/29 | &nbsp;&nbsp; 600 | 604758 |
| **Total Asset-Backed Securities — 0.9%** <br>**(Cost: $36,064,825)** | **Total Asset-Backed Securities — 0.9%** <br>**(Cost: $36,064,825)** | 36208330 |
| **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** |
| **Mortgage-Backed Securities — 1.8%** | **Mortgage-Backed Securities — 1.8%** | **Mortgage-Backed Securities — 1.8%** |
| BBCMS Mortgage Trust |  |  |
| 4.05%, 12/15/51 | &nbsp;&nbsp; 500 | 484567 |
| 5.63%, 09/15/57 | &nbsp;&nbsp; 300 | 302684 |
| 5.89%, 09/15/57 | &nbsp;&nbsp; 1000 | 1018744 |
| Series 2018-C2, Class A5, 4.31%, 12/15/51 | &nbsp;&nbsp; 800 | 780459 |
| Benchmark Mortgage Trust |  |  |
| 5.93%, 03/15/57 | &nbsp;&nbsp; 1000 | 1030646 |
| 6.95%, 07/15/57<sup>(a)</sup> | &nbsp;&nbsp; 140 | 146503 |
| Series 2018-B21, Class A2, 1.74%, 12/17/53 | &nbsp;&nbsp; 1000 | 946292 |
| Series 2023-B38, Class A2, 5.63%, 04/15/56 | &nbsp;&nbsp; 7000 | 7084988 |
| BMO Mortgage Trust |  |  |
| 5.32%, 09/15/57 | &nbsp;&nbsp; 200 | 201789 |
| 5.89%, 11/15/57<sup>(a)</sup> | &nbsp;&nbsp; 400 | 408247 |
| 6.41%, 11/15/57<sup>(a)</sup> | &nbsp;&nbsp; 900 | 919563 |
| CD Mortgage Trust |  |  |
| 3.91%, 11/13/50<sup>(a)</sup> | &nbsp;&nbsp; 200 | 185524 |
| Series 2016-CD2, Class A3, 3.25%, 11/10/49 | &nbsp;&nbsp; 946 | 915779 |
| Citigroup Commercial Mortgage Trust, Series <br> 2018-B2, Class A4, 4.01%, 03/10/51<br>| &nbsp;&nbsp; 1000 | 969014 |
| Commission Mortgage Trust |  |  |
| Class-A4, 3.09%, 10/10/49 | &nbsp;&nbsp; 5440 | 5239399 |
| Series 2015-CR27, Class A4, 3.61%, 10/10/48 | &nbsp;&nbsp; 1335 | 1317889 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| CSAIL Commercial Mortgage Trust, 4.05%, <br> 03/15/52<br>| &nbsp;&nbsp; $520 | $499105 |
| DBJPM Mortgage Trust, 3.56%, 06/10/50<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 930261 |
| Federal Home Loan Mortgage Corp. Multifamily <br> Structured Pass-Through Certificates<br>|  |  |
| 3.78%, 01/25/32 | &nbsp;&nbsp; 4932 | 4738723 |
| 4.46%, 08/25/31 | &nbsp;&nbsp; 2000 | 1973843 |
| 4.74%, 08/25/28<sup>(a)</sup> | &nbsp;&nbsp; 10000 | 10040811 |
| 5.20%, 02/25/31 | &nbsp;&nbsp; 3110 | 3192193 |
| 5.36%, 01/25/29<sup>(a)</sup> | &nbsp;&nbsp; 2720 | 2791670 |
| GS Mortgage Securities Trust, Series 2017-GS7, <br> Class AAB, 3.20%, 08/10/50<br>| &nbsp;&nbsp; 2152 | 2105613 |
| JPMBB Commercial Mortgage Securities Trust |  |  |
| Series 2015-C27, Class AS, 3.02%, 02/15/48 | &nbsp;&nbsp; 37 | 36620 |
| Series 2015-C29, Class A4, 3.61%, 05/15/48 | &nbsp;&nbsp; 2000 | 1983722 |
| Morgan Stanley Bank of America Merrill Lynch Trust, <br> Series 2016-C31, Class A5, 3.10%, 11/15/49<br>| &nbsp;&nbsp; 3075 | 2928050 |
| Morgan Stanley Capital I Trust, Series 2019-L3, <br> Class AS, 3.49%, 11/15/52<br>| &nbsp;&nbsp; 970 | 867686 |
| SG Commercial Mortgage Securities Trust, Series <br> 2016-C5, Class C5, 2.90%, 10/10/48<br>| &nbsp;&nbsp; 278 | 274785 |
| UBS Commercial Mortgage Trust, Series 2018-C14, <br> Class ASB, 4.39%, 12/15/51<br>| &nbsp;&nbsp; 3118 | 3098265 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| 4.15%, 03/15/51<sup>(a)</sup> | &nbsp;&nbsp; 500 | 478601 |
| 4.67%, 09/15/61<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 961157 |
| 5.93%, 07/15/57 | &nbsp;&nbsp; 2000 | 2066078 |
| Series 2016-C35, Class A4, 2.93%, 07/15/48 | &nbsp;&nbsp; 1000 | 965163 |
| Series 2016-NXS5, Class A6, 3.64%, 01/15/59 | &nbsp;&nbsp; 5000 | 4909412 |
| Series 2017-C39, Class A5, 3.42%, 09/15/50 | &nbsp;&nbsp; 5000 | 4770517 |
|  |  | 71564362 |
| **Total Collateralized Mortgage Obligations — 1.8%** <br>**(Cost: $73,741,105)** | **Total Collateralized Mortgage Obligations — 1.8%** <br>**(Cost: $73,741,105)** | 71564362 |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| Advantage Sales & Marketing Inc., 6.50%, <br> 11/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 187234 |
| Clear Channel Outdoor Holdings Inc. |  |  |
| 5.13%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 365 | 354599 |
| 7.50%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 310 | 264792 |
| 7.75%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 305 | 271327 |
| 9.00%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 245 | 257415 |
| CMG Media Corp., 8.88%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 315 | 229721 |
| Interpublic Group of Companies Inc. (The), 4.65%, <br> 10/01/28<br>| &nbsp;&nbsp; 100 | 99153 |
| Lamar Media Corp. |  |  |
| 3.75%, 02/15/28 | &nbsp;&nbsp; 200 | 189770 |
| 4.88%, 01/15/29 | &nbsp;&nbsp; 125 | 121425 |
| Neptune Bidco U.S. Inc., 9.29%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 800 | 748078 |
| Omnicom Group Inc./Omnicom Capital Inc., 3.60%, <br> 04/15/26<br>| &nbsp;&nbsp; 510 | 502660 |
| Outfront Media Capital LLC/Outfront Media <br> Capital Corp.<br>|  |  |
| 4.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 163868 |
| 5.00%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 205 | 201830 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 325 | 309330 |
| Summer BC Bidco B LLC, 5.50%, 10/31/26<sup>(b)</sup> | &nbsp;&nbsp; 135 | 133356 |
|  |  | 4034558 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** |
| AAR Escrow Issuer LLC, 6.75%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; $170 | $173804 |
| Airbus SE, 3.15%, 04/10/27<sup>(b)</sup> | &nbsp;&nbsp; 225 | 217479 |
| BAE Systems Finance Inc., 7.50%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 100 | 106497 |
| BAE Systems Holdings Inc., 3.85%, 12/15/25<sup>(b)</sup> | &nbsp;&nbsp; 380 | 375560 |
| BAE Systems PLC |  |  |
| 5.00%, 03/26/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201222 |
| 5.13%, 03/26/29<sup>(b)</sup> | &nbsp;&nbsp; 380 | 383558 |
| Boeing Co. (The) |  |  |
| 2.20%, 02/04/26 | &nbsp;&nbsp; 1615 | 1555602 |
| 2.25%, 06/15/26 | &nbsp;&nbsp; 232 | 221122 |
| 2.70%, 02/01/27 | &nbsp;&nbsp; 405 | 382176 |
| 2.75%, 02/01/26 | &nbsp;&nbsp; 505 | 489629 |
| 2.80%, 03/01/27 | &nbsp;&nbsp; 100 | 94369 |
| 3.10%, 05/01/26 | &nbsp;&nbsp; 10 | 9683 |
| 3.20%, 03/01/29 | &nbsp;&nbsp; 315 | 287910 |
| 3.25%, 02/01/28 | &nbsp;&nbsp; 340 | 319283 |
| 3.25%, 03/01/28 | &nbsp;&nbsp; 45 | 41884 |
| 3.45%, 11/01/28 | &nbsp;&nbsp; 25 | 23160 |
| 5.04%, 05/01/27 | &nbsp;&nbsp; 715 | 712173 |
| 6.26%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 410 | 419439 |
| 6.30%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 445 | 461032 |
| Bombardier Inc. |  |  |
| 6.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 249732 |
| 7.13%, 06/15/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 50 | 50575 |
| 7.50%, 02/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 225 | 234440 |
| 7.88%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 304 | 304438 |
| Embraer Netherlands Finance BV, 5.40%, <br> 02/01/27<sup>(c)</sup><br>| &nbsp;&nbsp; 200 | 202186 |
| F-Brasile SpA/F-Brasile U.S. LLC, Series XR, <br> 7.38%, 08/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 155 | 155141 |
| GE Capital International Funding Co. Unlimited Co., <br> 3.37%, 11/15/25<br>| &nbsp;&nbsp; 275 | 270791 |
| General Dynamics Corp. |  |  |
| 1.15%, 06/01/26 | &nbsp;&nbsp; 115 | 109347 |
| 3.50%, 04/01/27 | &nbsp;&nbsp; 395 | 386315 |
| 3.75%, 05/15/28 | &nbsp;&nbsp; 225 | 219140 |
| HEICO Corp., 5.25%, 08/01/28 | &nbsp;&nbsp; 100 | 101467 |
| Hexcel Corp., 4.20%, 02/15/27 | &nbsp;&nbsp; 188 | 183349 |
| Howmet Aerospace Inc. |  |  |
| 3.00%, 01/15/29 | &nbsp;&nbsp; 175 | 162722 |
| 5.90%, 02/01/27 | &nbsp;&nbsp; 250 | 256000 |
| 6.75%, 01/15/28 | &nbsp;&nbsp; 110 | 115959 |
| L3Harris Technologies Inc. |  |  |
| 3.85%, 12/15/26 | &nbsp;&nbsp; 135 | 132898 |
| 4.40%, 06/15/28 | &nbsp;&nbsp; 615 | 607445 |
| 5.05%, 06/01/29 | &nbsp;&nbsp; 145 | 146181 |
| 5.40%, 01/15/27 | &nbsp;&nbsp; 450 | 457005 |
| Lockheed Martin Corp. |  |  |
| 3.55%, 01/15/26 | &nbsp;&nbsp; 400 | 395167 |
| 4.45%, 05/15/28 | &nbsp;&nbsp; 130 | 129801 |
| 4.50%, 02/15/29 | &nbsp;&nbsp; 135 | 134500 |
| 5.10%, 11/15/27 | &nbsp;&nbsp; 380 | 386674 |
| Moog Inc., 4.25%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 167372 |
| Northrop Grumman Corp. |  |  |
| 3.20%, 02/01/27 | &nbsp;&nbsp; 35 | 33979 |
| 3.25%, 01/15/28 | &nbsp;&nbsp; 750 | 717603 |
| 4.60%, 02/01/29 | &nbsp;&nbsp; 175 | 174114 |
| Rolls-Royce PLC, 5.75%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 330 | 336311 |
| RTX Corp. |  |  |
| 2.65%, 11/01/26 | &nbsp;&nbsp; 265 | 255387 |
| 3.13%, 05/04/27 | &nbsp;&nbsp; 405 | 390404 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** |
| 3.50%, 03/15/27 | &nbsp;&nbsp; $481 | $468683 |
| 4.13%, 11/16/28 | &nbsp;&nbsp; 885 | 865768 |
| 5.00%, 02/27/26 | &nbsp;&nbsp; 190 | 190713 |
| 5.75%, 11/08/26 | &nbsp;&nbsp; 375 | 382996 |
| 5.75%, 01/15/29 | &nbsp;&nbsp; 270 | 280184 |
| 7.50%, 09/15/29 | &nbsp;&nbsp; 5 | 5568 |
| Spirit AeroSystems Inc. |  |  |
| 3.85%, 06/15/26 | &nbsp;&nbsp; 120 | 116301 |
| 4.60%, 06/15/28<sup>(c)</sup> | &nbsp;&nbsp; 225 | 214440 |
| TransDigm Inc. |  |  |
| 4.63%, 01/15/29 | &nbsp;&nbsp; 375 | 356187 |
| 4.88%, 05/01/29 | &nbsp;&nbsp; 225 | 214596 |
| 5.50%, 11/15/27 | &nbsp;&nbsp; 795 | 788552 |
| 6.38%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 805 | 817143 |
| 6.75%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 630 | 644153 |
| Triumph Group Inc., 9.00%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 316 | 329506 |
|  |  | 19616815 |
| **Agriculture — 0.3%** | **Agriculture — 0.3%** | **Agriculture — 0.3%** |
| Altria Group Inc. |  |  |
| 2.63%, 09/16/26 | &nbsp;&nbsp; 30 | 28900 |
| 4.40%, 02/14/26 | &nbsp;&nbsp; 340 | 338323 |
| 4.80%, 02/14/29 | &nbsp;&nbsp; 555 | 551693 |
| 6.20%, 11/01/28 | &nbsp;&nbsp; 155 | 162125 |
| Amaggi Luxembourg International SARL, 5.25%, <br> 01/28/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192465 |
| Archer-Daniels-Midland Co., 2.50%, 08/11/26 | &nbsp;&nbsp; 352 | 339472 |
| BAT Capital Corp. |  |  |
| 2.26%, 03/25/28 | &nbsp;&nbsp; 560 | 513755 |
| 3.22%, 09/06/26 | &nbsp;&nbsp; 332 | 322776 |
| 3.46%, 09/06/29 | &nbsp;&nbsp; 25 | 23368 |
| 3.56%, 08/15/27 | &nbsp;&nbsp; 631 | 611561 |
| 4.70%, 04/02/27 | &nbsp;&nbsp; 332 | 331249 |
| BAT International Finance PLC |  |  |
| 1.67%, 03/25/26 | &nbsp;&nbsp; 532 | 509419 |
| 4.45%, 03/16/28 | &nbsp;&nbsp; 275 | 271274 |
| 5.93%, 02/02/29 | &nbsp;&nbsp; 345 | 357088 |
| Bunge Ltd. Finance Corp. |  |  |
| 3.25%, 08/15/26 | &nbsp;&nbsp; 145 | 141673 |
| 3.75%, 09/25/27 | &nbsp;&nbsp; 120 | 117344 |
| 4.10%, 01/07/28 | &nbsp;&nbsp; 145 | 142347 |
| 4.20%, 09/17/29 | &nbsp;&nbsp; 220 | 213708 |
| Cargill Inc. |  |  |
| 0.75%, 02/02/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 260 | 248167 |
| 3.25%, 05/23/29<sup>(b)</sup> | &nbsp;&nbsp; 10 | 9475 |
| 3.63%, 04/22/27<sup>(b)</sup> | &nbsp;&nbsp; 270 | 263848 |
| 4.50%, 06/24/26<sup>(b)</sup> | &nbsp;&nbsp; 195 | 195163 |
| Darling Ingredients Inc., 5.25%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 160 | 158468 |
| Imperial Brands Finance PLC |  |  |
| 3.50%, 07/26/26<sup>(b)</sup> | &nbsp;&nbsp; 310 | 301962 |
| 3.88%, 07/26/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 260134 |
| 6.13%, 07/27/27<sup>(b)</sup> | &nbsp;&nbsp; 310 | 318370 |
| MHP Lux SA, 6.95%, 04/03/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 179253 |
| Philip Morris International Inc. |  |  |
| 0.88%, 05/01/26 | &nbsp;&nbsp; 277 | 262100 |
| 2.75%, 02/25/26 | &nbsp;&nbsp; 265 | 258624 |
| 3.13%, 08/17/27 | &nbsp;&nbsp; 125 | 120729 |
| 3.13%, 03/02/28 | &nbsp;&nbsp; 160 | 152332 |
| 3.38%, 08/15/29 | &nbsp;&nbsp; 200 | 188408 |
| 4.38%, 11/01/27 | &nbsp;&nbsp; 175 | 173884 |
| 4.63%, 11/01/29 | &nbsp;&nbsp; 175 | 173686 |
| 4.75%, 02/12/27 | &nbsp;&nbsp; 225 | 225758 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Agriculture (continued)** | **Agriculture (continued)** | **Agriculture (continued)** |
| 4.88%, 02/13/26 | &nbsp;&nbsp; $545 | $546781 |
| 4.88%, 02/15/28 | &nbsp;&nbsp; 459 | 461526 |
| 4.88%, 02/13/29 | &nbsp;&nbsp; 325 | 325994 |
| 5.00%, 11/17/25 | &nbsp;&nbsp; 287 | 288408 |
| 5.13%, 11/17/27 | &nbsp;&nbsp; 563 | 570804 |
| 5.25%, 09/07/28 | &nbsp;&nbsp; 110 | 112089 |
| Turning Point Brands Inc., 5.63%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 90 | 89619 |
| Vector Group Ltd., 10.50%, 11/01/26<sup>(b)</sup> | &nbsp;&nbsp; 195 | 195000 |
| Viterra Finance BV |  |  |
| 2.00%, 04/21/26<sup>(b)</sup> | &nbsp;&nbsp; 270 | 256837 |
| 4.90%, 04/21/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 208695 |
|  |  | 11714654 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| Air Canada, 3.88%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 356 | 344607 |
| Air Canada Pass Through Trust |  |  |
| Series 2015-1, Class A, 3.60%, 09/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 55 | 52679 |
| Series 2020-1, Class C, 10.50%, 07/15/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 110 | 117784 |
| Alaska Airlines Pass Through Trust, Series 2020-1, <br> 4.80%, 02/15/29<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 237 | 234130 |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 185 | 182203 |
| American Airlines Inc. |  |  |
| 7.25%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 255 | 259226 |
| 8.50%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 314536 |
| American Airlines Inc./AAdvantage Loyalty IP Ltd. |  |  |
| 5.50%, 04/20/26<sup>(b)</sup> | &nbsp;&nbsp; 507 | 506246 |
| 5.75%, 04/20/29<sup>(b)</sup> | &nbsp;&nbsp; 900 | 891802 |
| American Airlines Pass-Through Trust |  |  |
| Series 2014-1, Class A, 3.70%, 04/01/28 | &nbsp;&nbsp; 125 | 120911 |
| Series 2015-1, Class A, 3.38%, 11/01/28<sup>(c)</sup> | &nbsp;&nbsp; 220 | 209785 |
| Series 2015-2, Class AA, 3.60%, 03/22/29 | &nbsp;&nbsp; 39 | 37570 |
| Series 2016-1, Class AA, 3.58%, 07/15/29<sup>(c)</sup> | &nbsp;&nbsp; 93 | 89618 |
| Series 2016-2, Class AA, 3.20%, 12/15/29 | &nbsp;&nbsp; 104 | 98394 |
| Series 2016-3, Class AA, 3.00%, 04/15/30<sup>(c)</sup> | &nbsp;&nbsp; 22 | 21093 |
| Series 2017-1, Class AA, 3.65%, 02/15/29 | &nbsp;&nbsp; 99 | 94433 |
| AS Mileage Plan IP Ltd., 5.02%, 10/20/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 242577 |
| Avianca Midco 2 PLC |  |  |
| 9.00%, 12/01/28<sup>(d)</sup> | &nbsp;&nbsp; 100 | 98500 |
| 9.00%, 12/01/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 393100 |
| Azul Secured Finance LLP, 11.93%, 08/28/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 390538 |
| Delta Air Lines Inc. |  |  |
| 3.75%, 10/28/29 | &nbsp;&nbsp; 150 | 140021 |
| 4.38%, 04/19/28<sup>(c)</sup> | &nbsp;&nbsp; 150 | 146669 |
| 7.38%, 01/15/26 | &nbsp;&nbsp; 300 | 307198 |
| Delta Air Lines Inc./SkyMiles IP Ltd., 4.75%, <br> 10/20/28<sup>(b)</sup><br>| &nbsp;&nbsp; 1060 | 1047529 |
| Delta Air Lines Pass-Through Trust, Series 2020, <br> Class AA, 2.00%, 12/10/29<sup>(c)</sup><br>| &nbsp;&nbsp; 160 | 148656 |
| Grupo Aeromexico SAB de CV |  |  |
| 8.25%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 199463 |
| 8.50%, 03/17/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 416837 |
| Mileage Plus Holdings LLC/Mileage Plus Intellectual <br> Property Assets Ltd., 6.50%, 06/20/27<sup>(b)</sup><br>| &nbsp;&nbsp; 507 | 512583 |
| Southwest Airlines Co. |  |  |
| 3.45%, 11/16/27 | &nbsp;&nbsp; 15 | 14346 |
| 5.13%, 06/15/27 | &nbsp;&nbsp; 630 | 634220 |
| United Airlines Inc. |  |  |
| 4.38%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 585 | 574764 |
| 4.63%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 600 | 574539 |
| United Airlines Pass-Through Trust |  |  |
| Series 2014-1, Class A, 4.00%, 10/11/27<sup>(c)</sup> | &nbsp;&nbsp; 132 | 129833 |
| Series 2014-2, Class A, 3.75%, 03/03/28 | &nbsp;&nbsp; 130 | 126828 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| Series 2016-1, Class AA, 3.10%, 01/07/30 | &nbsp;&nbsp; $16 | $14870 |
| Series 2016-2, Class AA, 2.88%, 04/07/30 | &nbsp;&nbsp; 155 | 143368 |
| Series 2020-1, 5.88%, 04/15/29 | &nbsp;&nbsp; 437 | 446599 |
| Unity 1 Sukuk Ltd., 2.39%, 11/03/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194390 |
| VistaJet Malta Finance PLC/Vista Management <br> Holding Inc.<br>|  |  |
| 7.88%, 05/01/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 165 | 160733 |
| 9.50%, 06/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 160 | 157168 |
|  |  | 10790346 |
| **Apparel — 0.1%** | **Apparel — 0.1%** | **Apparel — 0.1%** |
| Crocs Inc., 4.25%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 91667 |
| Hanesbrands Inc., 4.88%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 270 | 266876 |
| NIKE Inc. |  |  |
| 2.38%, 11/01/26 | &nbsp;&nbsp; 275 | 264513 |
| 2.75%, 03/27/27 | &nbsp;&nbsp; 345 | 332247 |
| Tapestry Inc. |  |  |
| 4.13%, 07/15/27 | &nbsp;&nbsp; 32 | 31151 |
| 7.00%, 11/27/26 | &nbsp;&nbsp; 330 | 337003 |
| 7.05%, 11/27/25 | &nbsp;&nbsp; 130 | 131798 |
| 7.35%, 11/27/28 | &nbsp;&nbsp; 330 | 336515 |
| Under Armour Inc., 3.25%, 06/15/26 | &nbsp;&nbsp; 200 | 192277 |
| VF Corp., 2.80%, 04/23/27 | &nbsp;&nbsp; 130 | 122555 |
| William Carter Co. (The), 5.63%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 160 | 159158 |
| Wolverine World Wide Inc., 4.00%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 149617 |
|  |  | 2415377 |
| **Auto Manufacturers — 1.3%** | **Auto Manufacturers — 1.3%** | **Auto Manufacturers — 1.3%** |
| Allison Transmission Inc. |  |  |
| 4.75%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 125 | 121887 |
| 5.88%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 149716 |
| American Honda Finance Corp. |  |  |
| 1.30%, 09/09/26 | &nbsp;&nbsp; 455 | 429118 |
| 2.00%, 03/24/28 | &nbsp;&nbsp; 250 | 229297 |
| 2.25%, 01/12/29 | &nbsp;&nbsp; 200 | 181380 |
| 2.30%, 09/09/26 | &nbsp;&nbsp; 10 | 9612 |
| 2.35%, 01/08/27 | &nbsp;&nbsp; 270 | 258085 |
| 3.50%, 02/15/28 | &nbsp;&nbsp; 180 | 174070 |
| 4.40%, 10/05/26 | &nbsp;&nbsp; 150 | 149734 |
| 4.40%, 09/05/29 | &nbsp;&nbsp; 150 | 147472 |
| 4.45%, 10/22/27 | &nbsp;&nbsp; 200 | 199093 |
| 4.70%, 01/12/28 | &nbsp;&nbsp; 100 | 100389 |
| 4.75%, 01/12/26 | &nbsp;&nbsp; 105 | 105171 |
| 4.90%, 03/12/27 | &nbsp;&nbsp; 150 | 151103 |
| 4.90%, 07/09/27 | &nbsp;&nbsp; 155 | 156435 |
| 4.90%, 03/13/29 | &nbsp;&nbsp; 220 | 221007 |
| 4.95%, 01/09/26 | &nbsp;&nbsp; 200 | 200791 |
| 5.13%, 07/07/28 | &nbsp;&nbsp; 335 | 339587 |
| 5.25%, 07/07/26 | &nbsp;&nbsp; 175 | 177013 |
| 5.65%, 11/15/28 | &nbsp;&nbsp; 160 | 165464 |
| Aston Martin Capital Holdings Ltd., 10.00%, <br> 03/31/29<sup>(b)</sup><br>| &nbsp;&nbsp; 300 | 291332 |
| BMW Finance NV, 2.85%, 08/14/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 182551 |
| BMW U.S. Capital LLC |  |  |
| 1.25%, 08/12/26<sup>(b)</sup> | &nbsp;&nbsp; 320 | 301761 |
| 2.80%, 04/11/26<sup>(b)</sup> | &nbsp;&nbsp; 152 | 148285 |
| 3.30%, 04/06/27<sup>(b)</sup> | &nbsp;&nbsp; 187 | 180920 |
| 3.45%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 222 | 215745 |
| 3.63%, 04/18/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 200 | 189904 |
| 3.75%, 04/12/28<sup>(b)</sup> | &nbsp;&nbsp; 80 | 77189 |
| 3.95%, 08/14/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 193806 |
| 4.60%, 08/13/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 175 | 174606 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 4.65%, 08/13/26<sup>(b)(c)</sup> | &nbsp;&nbsp; $75 | $75100 |
| 4.65%, 08/13/29<sup>(b)</sup> | &nbsp;&nbsp; 110 | 108902 |
| 4.90%, 04/02/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 200 | 201337 |
| 4.90%, 04/02/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 210038 |
| 5.05%, 04/02/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201121 |
| 5.05%, 08/11/28<sup>(b)</sup> | &nbsp;&nbsp; 400 | 403099 |
| Cummins Inc., 4.90%, 02/20/29 | &nbsp;&nbsp; 50 | 50561 |
| Daimler Trucks Finance North America LLC |  |  |
| 2.00%, 12/14/26<sup>(b)</sup> | &nbsp;&nbsp; 485 | 458632 |
| 3.65%, 04/07/27<sup>(b)</sup> | &nbsp;&nbsp; 285 | 277197 |
| 5.00%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 160 | 160788 |
| 5.13%, 09/25/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 151259 |
| 5.13%, 01/19/28<sup>(b)</sup> | &nbsp;&nbsp; 280 | 282035 |
| 5.15%, 01/16/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 250963 |
| 5.40%, 09/20/28<sup>(b)</sup> | &nbsp;&nbsp; 265 | 269647 |
| Ford Motor Co. |  |  |
| 4.35%, 12/08/26 | &nbsp;&nbsp; 510 | 501530 |
| 6.63%, 10/01/28 | &nbsp;&nbsp; 140 | 145736 |
| Ford Motor Credit Co. LLC |  |  |
| 2.70%, 08/10/26 | &nbsp;&nbsp; 475 | 453165 |
| 2.90%, 02/16/28 | &nbsp;&nbsp; 275 | 252455 |
| 2.90%, 02/10/29 | &nbsp;&nbsp; 250 | 223103 |
| 3.38%, 11/13/25 | &nbsp;&nbsp; 665 | 652274 |
| 3.82%, 11/02/27 | &nbsp;&nbsp; 270 | 257657 |
| 4.13%, 08/17/27 | &nbsp;&nbsp; 430 | 415542 |
| 4.27%, 01/09/27 | &nbsp;&nbsp; 300 | 293220 |
| 4.39%, 01/08/26 | &nbsp;&nbsp; 395 | 390124 |
| 4.54%, 08/01/26 | &nbsp;&nbsp; 245 | 241521 |
| 4.95%, 05/28/27 | &nbsp;&nbsp; 520 | 514059 |
| 5.11%, 05/03/29 | &nbsp;&nbsp; 400 | 389303 |
| 5.13%, 11/05/26 | &nbsp;&nbsp; 200 | 199213 |
| 5.30%, 09/06/29 | &nbsp;&nbsp; 200 | 196031 |
| 5.80%, 03/05/27 | &nbsp;&nbsp; 450 | 453720 |
| 5.80%, 03/08/29 | &nbsp;&nbsp; 455 | 455177 |
| 5.85%, 05/17/27 | &nbsp;&nbsp; 225 | 227120 |
| 6.80%, 05/12/28 | &nbsp;&nbsp; 440 | 455951 |
| 6.80%, 11/07/28 | &nbsp;&nbsp; 425 | 441589 |
| 6.95%, 03/06/26 | &nbsp;&nbsp; 370 | 377096 |
| 6.95%, 06/10/26 | &nbsp;&nbsp; 295 | 301490 |
| 7.35%, 11/04/27 | &nbsp;&nbsp; 500 | 524838 |
| Ford Otomotiv Sanayi AS, 7.13%, 04/25/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203430 |
| General Motors Co. |  |  |
| 4.20%, 10/01/27 | &nbsp;&nbsp; 105 | 102998 |
| 5.00%, 10/01/28 | &nbsp;&nbsp; 70 | 69849 |
| 5.40%, 10/15/29 | &nbsp;&nbsp; 390 | 393485 |
| 6.80%, 10/01/27 | &nbsp;&nbsp; 485 | 508545 |
| General Motors Financial Co. Inc. |  |  |
| 1.25%, 01/08/26 | &nbsp;&nbsp; 534 | 511668 |
| 1.50%, 06/10/26 | &nbsp;&nbsp; 450 | 426358 |
| 2.35%, 02/26/27 | &nbsp;&nbsp; 420 | 396801 |
| 2.40%, 04/10/28 | &nbsp;&nbsp; 85 | 77930 |
| 2.40%, 10/15/28 | &nbsp;&nbsp; 325 | 293695 |
| 2.70%, 08/20/27 | &nbsp;&nbsp; 176 | 165804 |
| 3.85%, 01/05/28 | &nbsp;&nbsp; 6 | 5795 |
| 4.00%, 10/06/26 | &nbsp;&nbsp; 381 | 375335 |
| 4.30%, 04/06/29 | &nbsp;&nbsp; 315 | 304354 |
| 4.35%, 01/17/27 | &nbsp;&nbsp; 160 | 158189 |
| 4.90%, 10/06/29 | &nbsp;&nbsp; 300 | 295834 |
| 5.00%, 04/09/27 | &nbsp;&nbsp; 574 | 574772 |
| 5.25%, 03/01/26 | &nbsp;&nbsp; 430 | 431188 |
| 5.35%, 07/15/27 | &nbsp;&nbsp; 200 | 202075 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 5.40%, 04/06/26 | &nbsp;&nbsp; $540 | $544091 |
| 5.40%, 05/08/27 | &nbsp;&nbsp; 160 | 161888 |
| 5.55%, 07/15/29 | &nbsp;&nbsp; 350 | 354726 |
| 5.65%, 01/17/29<sup>(c)</sup> | &nbsp;&nbsp; 281 | 285677 |
| 5.80%, 06/23/28 | &nbsp;&nbsp; 470 | 481143 |
| 5.80%, 01/07/29 | &nbsp;&nbsp; 400 | 409169 |
| 6.00%, 01/09/28 | &nbsp;&nbsp; 470 | 483240 |
| Honda Motor Co. Ltd., 2.53%, 03/10/27 | &nbsp;&nbsp; 527 | 504021 |
| Hyundai Assan Otomotiv Sanayi ve Ticaret AS, <br> 1.63%, 07/12/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189025 |
| Hyundai Capital America |  |  |
| 1.30%, 01/08/26<sup>(b)</sup> | &nbsp;&nbsp; 334 | 320133 |
| 1.50%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 295 | 279517 |
| 1.65%, 09/17/26<sup>(b)</sup> | &nbsp;&nbsp; 415 | 391360 |
| 1.80%, 01/10/28<sup>(b)</sup> | &nbsp;&nbsp; 30 | 27157 |
| 2.00%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 25 | 22504 |
| 2.10%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 179445 |
| 2.38%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 115 | 107131 |
| 2.75%, 09/27/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192129 |
| 3.00%, 02/10/27<sup>(b)</sup> | &nbsp;&nbsp; 5 | 4801 |
| 3.50%, 11/02/26<sup>(b)</sup> | &nbsp;&nbsp; 310 | 301616 |
| 4.30%, 09/24/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 172482 |
| 4.55%, 09/26/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 243916 |
| 4.88%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 149955 |
| 5.25%, 01/08/27<sup>(b)</sup> | &nbsp;&nbsp; 125 | 125927 |
| 5.28%, 06/24/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201840 |
| 5.30%, 03/19/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202083 |
| 5.30%, 01/08/29<sup>(b)</sup> | &nbsp;&nbsp; 160 | 161169 |
| 5.30%, 06/24/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201489 |
| 5.35%, 03/19/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 126076 |
| 5.45%, 06/24/26<sup>(b)</sup> | &nbsp;&nbsp; 135 | 136150 |
| 5.50%, 03/30/26<sup>(b)</sup> | &nbsp;&nbsp; 305 | 307349 |
| 5.60%, 03/30/28<sup>(b)</sup> | &nbsp;&nbsp; 287 | 292167 |
| 5.65%, 06/26/26<sup>(b)</sup> | &nbsp;&nbsp; 285 | 288167 |
| 5.68%, 06/26/28<sup>(b)</sup> | &nbsp;&nbsp; 780 | 795572 |
| 5.95%, 09/21/26<sup>(b)</sup> | &nbsp;&nbsp; 260 | 264871 |
| 6.10%, 09/21/28<sup>(b)</sup> | &nbsp;&nbsp; 265 | 274316 |
| 6.25%, 11/03/25<sup>(b)</sup> | &nbsp;&nbsp; 150 | 152134 |
| 6.50%, 01/16/29<sup>(b)</sup> | &nbsp;&nbsp; 155 | 162834 |
| Hyundai Capital Services Inc. |  |  |
| 1.25%, 02/08/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190578 |
| 3.63%, 08/29/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193227 |
| 5.13%, 02/05/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200803 |
| Jaguar Land Rover Automotive PLC |  |  |
| 4.50%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 155 | 149692 |
| 5.50%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 122263 |
| 5.88%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 148374 |
| 7.75%, 10/15/25<sup>(b)</sup> | &nbsp;&nbsp; 235 | 235026 |
| Kia Corp. |  |  |
| 1.75%, 10/16/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188543 |
| 2.75%, 02/14/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190955 |
| Mercedes-Benz Finance North America LLC |  |  |
| 1.45%, 03/02/26<sup>(b)</sup> | &nbsp;&nbsp; 340 | 325788 |
| 3.10%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 138480 |
| 3.75%, 02/22/28<sup>(b)</sup> | &nbsp;&nbsp; 365 | 353453 |
| 4.30%, 02/22/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 146731 |
| 4.75%, 08/01/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150232 |
| 4.80%, 03/30/26<sup>(b)</sup> | &nbsp;&nbsp; 375 | 375903 |
| 4.80%, 01/11/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150260 |
| 4.80%, 03/30/28<sup>(b)</sup> | &nbsp;&nbsp; 395 | 394853 |
| 4.80%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 149282 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 4.85%, 01/11/29<sup>(b)</sup> | &nbsp;&nbsp; $150 | $149847 |
| 4.88%, 07/31/26<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150708 |
| 4.90%, 01/09/26<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150340 |
| 5.10%, 08/03/28<sup>(b)</sup> | &nbsp;&nbsp; 340 | 343201 |
| 5.20%, 08/03/26<sup>(b)</sup> | &nbsp;&nbsp; 290 | 292616 |
| 5.25%, 11/29/27<sup>(b)</sup> | &nbsp;&nbsp; 260 | 263652 |
| 5.38%, 11/26/25<sup>(b)</sup> | &nbsp;&nbsp; 194 | 195416 |
| Nissan Motor Acceptance Co. LLC |  |  |
| 1.85%, 09/16/26<sup>(b)</sup> | &nbsp;&nbsp; 332 | 309022 |
| 2.00%, 03/09/26<sup>(b)</sup> | &nbsp;&nbsp; 260 | 247438 |
| 2.45%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 105 | 91995 |
| 2.75%, 03/09/28<sup>(b)</sup> | &nbsp;&nbsp; 145 | 130590 |
| 5.30%, 09/13/27<sup>(b)</sup> | &nbsp;&nbsp; 100 | 98344 |
| 5.55%, 09/13/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 146510 |
| 6.95%, 09/15/26<sup>(b)</sup> | &nbsp;&nbsp; 85 | 86921 |
| 7.05%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 248848 |
| Nissan Motor Co. Ltd., 4.35%, 09/17/27<sup>(b)</sup> | &nbsp;&nbsp; 765 | 734678 |
| PACCAR Financial Corp. |  |  |
| 1.10%, 05/11/26<sup>(c)</sup> | &nbsp;&nbsp; 185 | 176172 |
| 2.00%, 02/04/27 | &nbsp;&nbsp; 180 | 170612 |
| 4.00%, 09/26/29 | &nbsp;&nbsp; 80 | 77982 |
| 4.45%, 03/30/26<sup>(c)</sup> | &nbsp;&nbsp; 100 | 100140 |
| 4.45%, 08/06/27 | &nbsp;&nbsp; 150 | 150285 |
| 4.60%, 01/10/28 | &nbsp;&nbsp; 230 | 230723 |
| 4.60%, 01/31/29<sup>(c)</sup> | &nbsp;&nbsp; 130 | 130405 |
| 4.95%, 08/10/28 | &nbsp;&nbsp; 5 | 5073 |
| 5.00%, 05/13/27 | &nbsp;&nbsp; 155 | 157225 |
| 5.05%, 08/10/26 | &nbsp;&nbsp; 45 | 45491 |
| 5.20%, 11/09/26 | &nbsp;&nbsp; 100 | 101650 |
| PM General Purchaser LLC, 9.50%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202918 |
| Stellantis Finance U.S. Inc., 1.71%, 01/29/27<sup>(b)</sup> | &nbsp;&nbsp; 430 | 399425 |
| Toyota Motor Corp. |  |  |
| 1.34%, 03/25/26 | &nbsp;&nbsp; 237 | 226933 |
| 2.76%, 07/02/29 | &nbsp;&nbsp; 150 | 139138 |
| 5.12%, 07/13/28 | &nbsp;&nbsp; 150 | 152742 |
| 5.28%, 07/13/26 | &nbsp;&nbsp; 120 | 121681 |
| Toyota Motor Credit Corp. |  |  |
| 0.80%, 01/09/26 | &nbsp;&nbsp; 55 | 52657 |
| 1.13%, 06/18/26 | &nbsp;&nbsp; 305 | 289425 |
| 1.15%, 08/13/27 | &nbsp;&nbsp; 45 | 41118 |
| 1.90%, 01/13/27 | &nbsp;&nbsp; 370 | 350400 |
| 1.90%, 04/06/28 | &nbsp;&nbsp; 202 | 185133 |
| 3.05%, 03/22/27 | &nbsp;&nbsp; 595 | 577368 |
| 3.05%, 01/11/28 | &nbsp;&nbsp; 150 | 143390 |
| 3.20%, 01/11/27 | &nbsp;&nbsp; 105 | 102298 |
| 3.65%, 01/08/29 | &nbsp;&nbsp; 220 | 212844 |
| 4.35%, 10/08/27 | &nbsp;&nbsp; 200 | 199220 |
| 4.45%, 05/18/26 | &nbsp;&nbsp; 320 | 320040 |
| 4.45%, 06/29/29 | &nbsp;&nbsp; 250 | 247827 |
| 4.55%, 08/07/26 | &nbsp;&nbsp; 95 | 95179 |
| 4.55%, 09/20/27 | &nbsp;&nbsp; 440 | 440939 |
| 4.55%, 08/09/29 | &nbsp;&nbsp; 285 | 283082 |
| 4.63%, 01/12/28 | &nbsp;&nbsp; 405 | 405891 |
| 4.65%, 01/05/29 | &nbsp;&nbsp; 245 | 245176 |
| 4.80%, 01/05/26 | &nbsp;&nbsp; 125 | 125483 |
| 5.00%, 08/14/26 | &nbsp;&nbsp; 177 | 178666 |
| 5.05%, 05/16/29 | &nbsp;&nbsp; 280 | 283769 |
| 5.20%, 05/15/26 | &nbsp;&nbsp; 130 | 131446 |
| 5.25%, 09/11/28 | &nbsp;&nbsp; 165 | 168647 |
| 5.40%, 11/10/25 | &nbsp;&nbsp; 110 | 111041 |
| 5.40%, 11/20/26 | &nbsp;&nbsp; 200 | 203636 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 5.45%, 11/10/27 | &nbsp;&nbsp; $355 | $364296 |
| Series B, 5.00%, 03/19/27 | &nbsp;&nbsp; 175 | 177086 |
| Volkswagen Group of America Finance LLC |  |  |
| 1.25%, 11/24/25<sup>(b)</sup> | &nbsp;&nbsp; 470 | 451756 |
| 1.63%, 11/24/27<sup>(b)</sup> | &nbsp;&nbsp; 65 | 58595 |
| 3.20%, 09/26/26<sup>(b)</sup> | &nbsp;&nbsp; 50 | 48278 |
| 4.35%, 06/08/27<sup>(b)</sup> | &nbsp;&nbsp; 620 | 608855 |
| 4.63%, 11/13/25<sup>(b)</sup> | &nbsp;&nbsp; 200 | 199172 |
| 4.75%, 11/13/28<sup>(b)</sup> | &nbsp;&nbsp; 415 | 405858 |
| 4.85%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 198437 |
| 4.90%, 08/14/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 199379 |
| 4.95%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196579 |
| 5.25%, 03/22/29<sup>(b)</sup> | &nbsp;&nbsp; 390 | 387795 |
| 5.30%, 03/22/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201044 |
| 5.40%, 03/20/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200776 |
| 5.65%, 09/12/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202322 |
| 5.70%, 09/12/26<sup>(b)</sup> | &nbsp;&nbsp; 220 | 222669 |
| 6.00%, 11/16/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 203510 |
| 6.20%, 11/16/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 205766 |
| Wabash National Corp., 4.50%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 117810 |
|  |  | 52158313 |
| **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** |
| Adient Global Holdings Ltd. |  |  |
| 4.88%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 260 | 256041 |
| 7.00%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 177904 |
| American Axle & Manufacturing Inc. |  |  |
| 5.00%, 10/01/29<sup>(c)</sup> | &nbsp;&nbsp; 175 | 158314 |
| 6.50%, 04/01/27<sup>(c)</sup> | &nbsp;&nbsp; 180 | 179056 |
| 6.88%, 07/01/28<sup>(c)</sup> | &nbsp;&nbsp; 135 | 133506 |
| Aptiv PLC, 4.35%, 03/15/29 | &nbsp;&nbsp; 100 | 97612 |
| Aptiv PLC/Aptiv Global Financing DAC, 4.65%, <br> 09/13/29<br>| &nbsp;&nbsp; 200 | 194645 |
| BorgWarner Inc. |  |  |
| 2.65%, 07/01/27 | &nbsp;&nbsp; 445 | 422217 |
| 4.95%, 08/15/29 | &nbsp;&nbsp; 25 | 24906 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |
| 6.25%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 275 | 275573 |
| 6.75%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 245688 |
| 8.50%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 590 | 593250 |
| Cooper-Standard Automotive Inc., 10.63%, <br> 05/15/27, (10.63% PIK)<sup>(b)(c)(e)</sup><br>| &nbsp;&nbsp; 127 | 104379 |
| Dana Inc. |  |  |
| 5.38%, 11/15/27 | &nbsp;&nbsp; 159 | 155531 |
| 5.63%, 06/15/28 | &nbsp;&nbsp; 125 | 121309 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| 4.88%, 03/15/27 | &nbsp;&nbsp; 235 | 226561 |
| 5.00%, 05/31/26 | &nbsp;&nbsp; 300 | 294618 |
| 5.00%, 07/15/29 | &nbsp;&nbsp; 250 | 225777 |
| 7.00%, 03/15/28 | &nbsp;&nbsp; 46 | 46679 |
| IHO Verwaltungs GmbH, 6.38%, 05/15/29, <br> (6.38% cash)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 130 | 125696 |
| Lear Corp. |  |  |
| 3.80%, 09/15/27 | &nbsp;&nbsp; 30 | 29105 |
| 4.25%, 05/15/29 | &nbsp;&nbsp; 100 | 96471 |
| LG Energy Solution Ltd. |  |  |
| 5.38%, 07/02/27 | &nbsp;&nbsp; 200 | 200882 |
| 5.38%, 07/02/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200520 |
| 5.63%, 09/25/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201733 |
| 5.75%, 09/25/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203594 |
| Magna International Inc., 5.05%, 03/14/29 | &nbsp;&nbsp; 90 | 90850 |
| Phinia Inc., 6.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 153366 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| Real Hero Merger Sub 2 Inc., 6.25%, 02/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; $180 | $157017 |
| SK On Co. Ltd., 5.38%, 05/11/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201168 |
| Tenneco Inc., 8.00%, 11/17/28<sup>(b)</sup> | &nbsp;&nbsp; 585 | 541303 |
| Titan International Inc., 7.00%, 04/30/28 | &nbsp;&nbsp; 120 | 116283 |
| Toyota Industries Corp., 3.57%, 03/16/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 191357 |
| ZF North America Capital Inc., 6.88%, 04/14/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 181537 |
|  |  | 6624448 |
| **Banks — 9.3%** | **Banks — 9.3%** | **Banks — 9.3%** |
| ABN AMRO Bank NV |  |  |
| 1.54%, 06/16/27, (1-year CMT + 0.800%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 236935 |
| 2.47%, 12/13/29, (1-year CMT + 1.100%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 180641 |
| 4.80%, 04/18/26<sup>(b)</sup> | &nbsp;&nbsp; 335 | 333078 |
| 6.34%, 09/18/27, (1-year CMT + 1.650%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 410271 |
| Abu Dhabi Commercial Bank PJSC |  |  |
| 3.50%, 03/31/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194662 |
| 4.50%, 09/14/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199007 |
| 5.50%, 01/12/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205720 |
| 8.00%, (5-year CMT + 3.524%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 215203 |
| Access Bank PLC, 6.13%, 09/21/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190023 |
| Adib Capital Invest 3 Ltd., 7.25%, <br> (5-year CMT + 3.059%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 213559 |
| Adib Sukuk Co. II Ltd., 5.70%, 11/15/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 207143 |
| Agricultural Bank of China Ltd./Hong Kong |  |  |
| 1.25%, 06/17/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189482 |
| 2.25%, 03/01/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190208 |
| Agricultural Bank of China Ltd./New York, 1.25%, <br> 01/19/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192075 |
| Agricultural Bank of China Ltd./Singapore, 1.25%, <br> 03/02/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 191324 |
| Ahli United Sukuk Ltd., 3.88%, <br> (5-year CMT + 3.011%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 191191 |
| AIB Group PLC, 6.61%, 09/13/29, <br> (1-day SOFR + 2.330%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 200 | 210255 |
| Akbank TAS |  |  |
| 6.80%, 02/06/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203232 |
| 6.80%, 06/22/31, (5-year CMT + 6.015%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 198607 |
| Al Rajhi Sukuk Ltd. |  |  |
| 4.75%, 04/05/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 400051 |
| 5.05%, 03/12/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202114 |
| Alinma Tier 1 Sukuk Ltd., 6.50%, <br> (5-year CMT + 2.201%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 207116 |
| ANZ Bank New Zealand Ltd., 5.55%, 08/11/32, <br> (5-year CMT + 2.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 255 | 257117 |
| ANZ New Zealand International Ltd./London |  |  |
| 1.25%, 06/22/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 189446 |
| 3.45%, 01/21/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 192052 |
| 5.36%, 08/14/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 275097 |
| ASB Bank Ltd. |  |  |
| 1.63%, 10/22/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 188747 |
| 5.28%, 06/17/32, (5-year CMT + 2.250%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 285 | 283858 |
| 5.35%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202177 |
| 5.40%, 11/29/27<sup>(b)</sup> | &nbsp;&nbsp; 215 | 219290 |
| Associated Banc-Corp, 6.46%, 08/29/30, <br> (1-day SOFR +3.030%)<sup>(a)</sup><br>| &nbsp;&nbsp; 50 | 50749 |
| AUB Sukuk Ltd., 2.62%, 09/09/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190031 |
| Australia & New Zealand Banking Group Ltd. |  |  |
| 4.40%, 05/19/26<sup>(b)</sup> | &nbsp;&nbsp; 400 | 395977 |
| 5.73%, 09/18/34, (5-year CMT + 1.618%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 253363 |
| Australia & New Zealand Banking Group <br> Ltd./New York<br>|  |  |
| 3.92%, 09/30/27 | &nbsp;&nbsp; 250 | 246425 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.75%, 01/18/27 | &nbsp;&nbsp; $250 | $251489 |
| 4.90%, 07/16/27 | &nbsp;&nbsp; 315 | 318832 |
| 5.00%, 03/18/26 | &nbsp;&nbsp; 250 | 251735 |
| Banco Bilbao Vizcaya Argentaria SA, 5.38%, <br> 03/13/29<br>| &nbsp;&nbsp; 205 | 208114 |
| Banco Bradesco SA/Cayman Islands, 4.38%, <br> 03/18/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 196761 |
| Banco de Bogota SA, 6.25%, 05/12/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199893 |
| Banco de Credito del Peru SA, 3.25%, 09/30/31, <br> (5-year CMT + 2.450%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 187380 |
| Banco de Credito e Inversiones SA, 3.50%, <br> 10/12/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 191653 |
| Banco do Brasil SA |  |  |
| 3.25%, 09/30/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192450 |
| 4.88%, 01/11/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194451 |
| Banco General SA, 4.13%, 08/07/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193895 |
| Banco Inbursa SA Institucion De Banca Multiple <br> Grupo Financiero Inbursa, 4.38%, 04/11/27<sup>(d)</sup><br>| &nbsp;&nbsp; 150 | 146617 |
| Banco Internacional del Peru SAA Interbank, 3.25%, <br> 10/04/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192768 |
| Banco Nacional de Comercio Exterior SNC/Cayman <br> Islands, 2.72%, 08/11/31, <br> (5-year CMT + 2.000%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 181683 |
| Banco Santander SA |  |  |
| 1.72%, 09/14/27, (1-year CMT + 0.900%)<sup>(a)</sup> | &nbsp;&nbsp; 310 | 291725 |
| 1.85%, 03/25/26 | &nbsp;&nbsp; 740 | 709055 |
| 3.31%, 06/27/29 | &nbsp;&nbsp; 280 | 261584 |
| 3.80%, 02/23/28 | &nbsp;&nbsp; 250 | 240834 |
| 4.18%, 03/24/28, (1-year CMT + 2.000%)<sup>(a)</sup> | &nbsp;&nbsp; 655 | 642224 |
| 4.25%, 04/11/27 | &nbsp;&nbsp; 200 | 197027 |
| 4.38%, 04/12/28 | &nbsp;&nbsp; 235 | 230092 |
| 5.18%, 11/19/25 | &nbsp;&nbsp; 287 | 286818 |
| 5.29%, 08/18/27 | &nbsp;&nbsp; 515 | 518691 |
| 5.37%, 07/15/28, (1-year CMT + 0.950%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 201698 |
| 5.54%, 03/14/30, (1-year CMT + 1.450%)<sup>(a)</sup> | &nbsp;&nbsp; 235 | 238010 |
| 5.55%, 03/14/28, (1-year CMT + 1.250%)<sup>(a)</sup> | &nbsp;&nbsp; 210 | 212180 |
| 5.59%, 08/08/28 | &nbsp;&nbsp; 725 | 740965 |
| 6.53%, 11/07/27, (1-year CMT + 1.650%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 206588 |
| 6.61%, 11/07/28 | &nbsp;&nbsp; 200 | 212184 |
| Bangkok Bank PCL/Hong Kong |  |  |
| 3.73%, 09/25/34, (5-year CMT + 1.900%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 400 | 364766 |
| 4.30%, 06/15/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197564 |
| 4.45%, 09/19/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196487 |
| 5.30%, 09/21/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202351 |
| Bank Leumi Le-Israel BM, 5.13%, 07/27/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 199235 |
| Bank Mandiri Persero Tbk PT, 2.00%, 04/19/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191276 |
| Bank Muscat SAOG, 4.75%, 03/17/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197861 |
| Bank Negara Indonesia Persero Tbk PT |  |  |
| 3.75%, 03/30/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194186 |
| 4.30%, (5-year CMT + 3.466%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 190494 |
| Bank of America Corp. |  |  |
| 1.73%, 07/22/27, (1-day SOFR + 0.960%)<sup>(a)</sup> | &nbsp;&nbsp; 1920 | 1821707 |
| 2.09%, 06/14/29, (1-day SOFR + 1.060%)<sup>(a)</sup> | &nbsp;&nbsp; 1025 | 929306 |
| 2.55%, 02/04/28, (1-day SOFR + 1.050%)<sup>(a)</sup> | &nbsp;&nbsp; 770 | 732494 |
| 2.88%, 10/22/30, <br> (3-mo. CME Term SOFR + 1.452%)<sup>(a)</sup><br>| &nbsp;&nbsp; 600 | 544505 |
| 3.19%, 07/23/30, <br> (3-mo. CME Term SOFR + 1.442%)<sup>(a)</sup><br>| &nbsp;&nbsp; 750 | 694154 |
| 3.25%, 10/21/27 | &nbsp;&nbsp; 310 | 299084 |
| 3.42%, 12/20/28, <br> (3-mo. CME Term SOFR + 1.302%)<sup>(a)</sup><br>| &nbsp;&nbsp; 1795 | 1721235 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.50%, 04/19/26 | &nbsp;&nbsp; $730 | $718752 |
| 3.56%, 04/23/27, <br> (3-mo. CME Term SOFR + 1.322%)<sup>(a)</sup><br>| &nbsp;&nbsp; 340 | 333859 |
| 3.59%, 07/21/28, <br> (3-mo. CME Term SOFR + 1.632%)<sup>(a)</sup><br>| &nbsp;&nbsp; 710 | 687556 |
| 3.71%, 04/24/28, <br> (3-mo. CME Term SOFR + 1.774%)<sup>(a)</sup><br>| &nbsp;&nbsp; 775 | 754646 |
| 3.82%, 01/20/28, <br> (3-mo. CME Term SOFR + 1.837%)<sup>(a)</sup><br>| &nbsp;&nbsp; 757 | 741016 |
| 3.97%, 03/05/29, <br> (3-mo. CME Term SOFR + 1.332%)<sup>(a)</sup><br>| &nbsp;&nbsp; 680 | 660521 |
| 3.97%, 02/07/30, <br> (3-mo. CME Term SOFR + 1.472%)<sup>(a)</sup><br>| &nbsp;&nbsp; 805 | 774102 |
| 4.25%, 10/22/26 | &nbsp;&nbsp; 350 | 346649 |
| 4.27%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(a)</sup><br>| &nbsp;&nbsp; 965 | 944835 |
| 4.38%, 04/27/28, (1-day SOFR + 1.580%)<sup>(a)</sup> | &nbsp;&nbsp; 650 | 643295 |
| 4.45%, 03/03/26 | &nbsp;&nbsp; 679 | 675485 |
| 4.95%, 07/22/28, (1-day SOFR + 2.040%)<sup>(a)</sup> | &nbsp;&nbsp; 1085 | 1089279 |
| 5.08%, 01/20/27, (1-day SOFR + 1.290%)<sup>(a)</sup> | &nbsp;&nbsp; 1055 | 1057797 |
| 5.20%, 04/25/29, (1-day SOFR + 1.630%)<sup>(a)</sup> | &nbsp;&nbsp; 1050 | 1060411 |
| 5.82%, 09/15/29, (1-day SOFR + 1.570%)<sup>(a)</sup> | &nbsp;&nbsp; 780 | 805367 |
| 5.93%, 09/15/27, (1-day SOFR + 1.340%)<sup>(a)</sup> | &nbsp;&nbsp; 225 | 229766 |
| 6.20%, 11/10/28, (1-day SOFR + 1.990%)<sup>(a)</sup> | &nbsp;&nbsp; 650 | 675441 |
| 6.22%, 09/15/26 | &nbsp;&nbsp; 271 | 278520 |
| Series L, 4.18%, 11/25/27 | &nbsp;&nbsp; 340 | 333942 |
| Series N, 1.66%, 03/11/27, <br> (1-day SOFR + 0.910%)<sup>(a)</sup><br>| &nbsp;&nbsp; 931 | 891394 |
| Bank of America NA, 5.53%, 08/18/26 | &nbsp;&nbsp; 510 | 519042 |
| Bank of China Ltd., 3.50%, 04/20/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195304 |
| Bank of China Ltd./Luxembourg, 1.40%, 04/28/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 381284 |
| Bank of China Ltd./Sydney, 5.47%, 06/14/27, <br> (1-day SOFR Index + 0.500%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 400 | 399124 |
| Bank of Communications Co. Ltd., 3.80%, <br> (5-year CMT + 3.345%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 1300 | 1281580 |
| Bank of Communications Hong Kong Ltd., 2.30%, <br> 07/08/31, (5-year CMT + 1.400%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 350 | 334626 |
| Bank of East Asia Ltd. (The) |  |  |
| 4.88%, 04/22/32, (5-year CMT + 2.300%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 250 | 243295 |
| 6.63%, 03/13/27, (1-year CMT + 2.300%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 250 | 253350 |
| 6.75%, 06/27/34, (5-year CMT + 2.550%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 250 | 255488 |
| Bank of Ireland Group PLC, 5.60%, 03/20/30, <br> (1-day SOFR +1.620%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 200 | 203561 |
| Bank of Montreal |  |  |
| 0.95%, 01/22/27, (1-day SOFR + 0.603%)<sup>(a)</sup> | &nbsp;&nbsp; 415 | 395663 |
| 1.25%, 09/15/26 | &nbsp;&nbsp; 440 | 413581 |
| 2.65%, 03/08/27 | &nbsp;&nbsp; 485 | 464427 |
| 3.80%, 12/15/32, <br> (5-year USD Swap + 1.432%)<sup>(a)</sup><br>| &nbsp;&nbsp; 420 | 400942 |
| 4.64%, 09/10/30, (1-day SOFR + 1.250%)<sup>(a)</sup> | &nbsp;&nbsp; 125 | 123500 |
| 5.20%, 02/01/28 | &nbsp;&nbsp; 469 | 476612 |
| 5.27%, 12/11/26 | &nbsp;&nbsp; 215 | 217808 |
| 5.30%, 06/05/26 | &nbsp;&nbsp; 485 | 490154 |
| 5.37%, 06/04/27 | &nbsp;&nbsp; 250 | 255627 |
| 5.72%, 09/25/28<sup>(c)</sup> | &nbsp;&nbsp; 265 | 274028 |
| Series f2f, 4.57%, 09/10/27, <br> (1-day SOFR + 0.880%)<sup>(a)</sup><br>| &nbsp;&nbsp; 125 | 124792 |
| Series H, 4.70%, 09/14/27 | &nbsp;&nbsp; 405 | 405993 |
| Bank of New York Mellon Corp. (The) |  |  |
| 0.75%, 01/28/26 | &nbsp;&nbsp; 120 | 114578 |
| 1.05%, 10/15/26 | &nbsp;&nbsp; 180 | 168512 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 1.65%, 07/14/28 | &nbsp;&nbsp; $45 | $40523 |
| 2.05%, 01/26/27 | &nbsp;&nbsp; 485 | 460441 |
| 2.45%, 08/17/26 | &nbsp;&nbsp; 10 | 9675 |
| 2.80%, 05/04/26 | &nbsp;&nbsp; 170 | 166090 |
| 3.00%, 10/30/28 | &nbsp;&nbsp; 63 | 59030 |
| 3.25%, 05/16/27 | &nbsp;&nbsp; 105 | 101862 |
| 3.30%, 08/23/29 | &nbsp;&nbsp; 195 | 182058 |
| 3.40%, 01/29/28 | &nbsp;&nbsp; 435 | 420499 |
| 3.44%, 02/07/28, <br> (3-mo. CME Term SOFR + 1.331%)<sup>(a)</sup><br>| &nbsp;&nbsp; 365 | 355279 |
| 3.85%, 04/28/28 | &nbsp;&nbsp; 245 | 239474 |
| 3.85%, 04/26/29 | &nbsp;&nbsp; 5 | 4848 |
| 3.95%, 11/18/25 | &nbsp;&nbsp; 25 | 24855 |
| 3.99%, 06/13/28, (1-day SOFR + 1.151%)<sup>(a)</sup> | &nbsp;&nbsp; 170 | 167501 |
| 4.54%, 02/01/29, (1-day SOFR + 1.169%)<sup>(a)</sup> | &nbsp;&nbsp; 270 | 268558 |
| 4.60%, 07/26/30, (1-day SOFR + 1.755%)<sup>(a)</sup> | &nbsp;&nbsp; 150 | 148613 |
| 4.89%, 07/21/28, (1-day SOFR +0.840%)<sup>(a)</sup> | &nbsp;&nbsp; 280 | 281575 |
| 4.95%, 04/26/27, (1-day SOFR + 1.026%)<sup>(a)</sup> | &nbsp;&nbsp; 490 | 492327 |
| 4.98%, 03/14/30, (1-day SOFR +1.085%)<sup>(a)</sup> | &nbsp;&nbsp; 345 | 347356 |
| 5.80%, 10/25/28, <br> (1-day SOFR Index + 1.802%)<sup>(a)</sup><br>| &nbsp;&nbsp; 385 | 397218 |
| 6.32%, 10/25/29, (1-day SOFR + 1.598%)<sup>(a)</sup> | &nbsp;&nbsp; 265 | 279504 |
| Bank of New Zealand |  |  |
| 2.29%, 01/27/27<sup>(b)</sup> | &nbsp;&nbsp; 275 | 261561 |
| 4.85%, 02/07/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 270610 |
| 5.08%, 01/30/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 252539 |
| Bank of Nova Scotia (The) |  |  |
| 1.05%, 03/02/26 | &nbsp;&nbsp; 490 | 467341 |
| 1.30%, 09/15/26 | &nbsp;&nbsp; 390 | 367102 |
| 1.35%, 06/24/26 | &nbsp;&nbsp; 389 | 369340 |
| 1.95%, 02/02/27 | &nbsp;&nbsp; 304 | 286824 |
| 2.70%, 08/03/26 | &nbsp;&nbsp; 15 | 14531 |
| 2.95%, 03/11/27 | &nbsp;&nbsp; 340 | 327543 |
| 4.40%, 09/08/28, (1-day SOFR + 1.000%)<sup>(a)</sup> | &nbsp;&nbsp; 150 | 148464 |
| 4.50%, 12/16/25 | &nbsp;&nbsp; 400 | 397803 |
| 4.75%, 02/02/26 | &nbsp;&nbsp; 340 | 340405 |
| 5.25%, 06/12/28 | &nbsp;&nbsp; 195 | 198430 |
| 5.35%, 12/07/26 | &nbsp;&nbsp; 330 | 335206 |
| 5.40%, 06/04/27 | &nbsp;&nbsp; 160 | 163246 |
| 5.45%, 08/01/29 | &nbsp;&nbsp; 120 | 123137 |
| Bank of the Philippine Islands, 5.25%, 03/26/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203514 |
| Bank OZK, 2.75%, 10/01/31, <br> (3-mo. CME Term SOFR + 2.090%)<sup>(a)</sup><br>| &nbsp;&nbsp; 165 | 133043 |
| BankUnited Inc., 4.88%, 11/17/25 | &nbsp;&nbsp; 155 | 154155 |
| Banque Federative du Credit Mutuel SA |  |  |
| 1.60%, 10/04/26<sup>(b)</sup> | &nbsp;&nbsp; 390 | 368079 |
| 4.75%, 07/13/27<sup>(b)</sup> | &nbsp;&nbsp; 235 | 234803 |
| 4.94%, 01/26/26<sup>(b)</sup> | &nbsp;&nbsp; 430 | 430718 |
| 5.09%, 01/23/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 211632 |
| 5.19%, 02/16/28<sup>(b)</sup> | &nbsp;&nbsp; 230 | 232096 |
| 5.79%, 07/13/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 205681 |
| 5.90%, 07/13/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 203900 |
| Banque Saudi Fransi, 4.75%, 05/31/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199747 |
| Barclays PLC |  |  |
| 2.28%, 11/24/27, (1-year CMT + 1.050%)<sup>(a)</sup> | &nbsp;&nbsp; 647 | 612911 |
| 4.34%, 01/10/28 | &nbsp;&nbsp; 80 | 78433 |
| 4.38%, 01/12/26 | &nbsp;&nbsp; 745 | 740441 |
| 4.84%, 05/09/28 | &nbsp;&nbsp; 550 | 542656 |
| 4.84%, 09/10/28, (1-day SOFR + 1.340%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 198945 |
| 4.94%, 09/10/30, (1-day SOFR + 1.560%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 395496 |
| 4.97%, 05/16/29, (3-mo. LIBOR US + 1.902%)<sup>(a)</sup> | &nbsp;&nbsp; 425 | 423122 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.09%, 06/20/30, (3-mo. LIBOR US + 3.054%)<sup>(a)</sup> | &nbsp;&nbsp; $415 | $408489 |
| 5.20%, 05/12/26 | &nbsp;&nbsp; 755 | 755119 |
| 5.50%, 08/09/28, (1-year CMT + 2.650%)<sup>(a)</sup> | &nbsp;&nbsp; 795 | 805630 |
| 5.67%, 03/12/28, (1-day SOFR +1.490%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 203120 |
| 5.69%, 03/12/30, (1-day SOFR +1.740%)<sup>(a)</sup> | &nbsp;&nbsp; 525 | 534524 |
| 5.83%, 05/09/27, (1-day SOFR + 2.210%)<sup>(a)</sup> | &nbsp;&nbsp; 750 | 759236 |
| 6.49%, 09/13/29, (1-day SOFR + 2.220%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 418716 |
| 6.50%, 09/13/27, (1-day SOFR + 1.880%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 410788 |
| 7.33%, 11/02/26, (1-year CMT + 3.050%)<sup>(a)</sup> | &nbsp;&nbsp; 575 | 587025 |
| 7.39%, 11/02/28, (1-year CMT + 3.300%)<sup>(a)</sup> | &nbsp;&nbsp; 480 | 510857 |
| BBK BSC, 6.88%, 06/06/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206875 |
| BBVA Bancomer SA/Texas, 5.25%, 09/10/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198949 |
| BDO Unibank Inc., 2.13%, 01/13/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193148 |
| BNG Bank NV, 2.38%, 03/16/26<sup>(b)</sup> | &nbsp;&nbsp; 32 | 31132 |
| BNP Paribas SA |  |  |
| 1.32%, 01/13/27, (1-day SOFR + 1.004%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 845 | 808072 |
| 1.68%, 06/30/27, (1-day SOFR + 0.912%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 505 | 478437 |
| 1.90%, 09/30/28, (1-day SOFR + 1.609%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 183438 |
| 2.16%, 09/15/29, (1-day SOFR + 1.218%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 365 | 327273 |
| 2.59%, 01/20/28, (1-day SOFR + 1.228%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 600 | 570209 |
| 3.50%, 11/16/27<sup>(b)</sup> | &nbsp;&nbsp; 575 | 552208 |
| 4.38%, 03/01/33, <br> (5-year USD Swap + 1.483%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 490 | 469872 |
| 4.40%, 08/14/28<sup>(b)</sup> | &nbsp;&nbsp; 605 | 592242 |
| 4.63%, 03/13/27<sup>(b)</sup> | &nbsp;&nbsp; 525 | 517736 |
| 5.13%, 01/13/29, (1-year CMT + 1.450%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 580 | 582962 |
| 5.18%, 01/09/30, (1-day SOFR + 1.520%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 402264 |
| 5.20%, 01/10/30, <br> (3-mo. CME Term SOFR + 2.829%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 250 | 250585 |
| 5.34%, 06/12/29, (1-year CMT + 1.500%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 500 | 506493 |
| 5.50%, 05/20/30, (1-day SOFR + 1.590%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 405 | 410577 |
| BOS Funding Ltd., 7.00%, 03/14/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 208267 |
| Boubyan Sukuk Ltd., 3.39%, 03/29/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193742 |
| Boubyan Tier 1 Sukuk Ltd., 3.95%, <br> (5-year USD Swap + 2.896%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 190916 |
| BPCE SA |  |  |
| 2.05%, 10/19/27, (1-day SOFR + 1.087%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 320 | 301754 |
| 2.70%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 225304 |
| 3.50%, 10/23/27<sup>(b)</sup> | &nbsp;&nbsp; 295 | 282474 |
| 4.75%, 07/19/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 249491 |
| 4.88%, 04/01/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 248371 |
| 5.10%, 01/26/26<sup>(b)</sup> | &nbsp;&nbsp; 345 | 345000 |
| 5.13%, 01/18/28<sup>(b)</sup> | &nbsp;&nbsp; 310 | 310942 |
| 5.20%, 01/18/27<sup>(b)</sup> | &nbsp;&nbsp; 260 | 262256 |
| 5.28%, 05/30/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 252374 |
| 5.72%, 01/18/30, (1-year CMT + 1.959%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 285 | 289123 |
| 5.98%, 01/18/27, (1-day SOFR + 2.100%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 555 | 560162 |
| 6.61%, 10/19/27, (1-day SOFR + 1.980%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 305 | 313470 |
| 6.71%, 10/19/29, (1-day SOFR + 2.270%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 262781 |
| BSF Finance, 5.50%, 11/23/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203877 |
| BSF Sukuk Ltd., 5.00%, 01/25/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201546 |
| Burgan Bank SAK, 2.75%, 12/15/31, <br> (5-year CMT + 2.229%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 184841 |
| CaixaBank SA |  |  |
| 5.67%, 03/15/30, (1-day SOFR +1.780%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 203217 |
| 6.21%, 01/18/29, (1-day SOFR + 2.700%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 280 | 288359 |
| 6.68%, 09/13/27, (1-day SOFR + 2.080%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 206034 |
| Canadian Imperial Bank of Commerce |  |  |
| 1.25%, 06/22/26 | &nbsp;&nbsp; 284 | 269213 |
| 3.45%, 04/07/27 | &nbsp;&nbsp; 440 | 428110 |
| 4.51%, 09/11/27, (1-day SOFR + 0.930%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 199268 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.63%, 09/11/30, (1-day SOFR + 1.335%)<sup>(a)</sup> | &nbsp;&nbsp; $250 | $246168 |
| 5.00%, 04/28/28 | &nbsp;&nbsp; 335 | 337391 |
| 5.24%, 06/28/27 | &nbsp;&nbsp; 280 | 284036 |
| 5.26%, 04/08/29 | &nbsp;&nbsp; 265 | 269565 |
| 5.62%, 07/17/26 | &nbsp;&nbsp; 100 | 101555 |
| 5.93%, 10/02/26 | &nbsp;&nbsp; 215 | 220073 |
| 5.99%, 10/03/28 | &nbsp;&nbsp; 185 | 193165 |
| CBQ Finance Ltd. |  |  |
| 2.00%, 05/12/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190864 |
| 5.38%, 03/28/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204238 |
| China CITIC Bank International Ltd., 6.00%, <br> 12/05/33, (5-year CMT + 1.650%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 250 | 258245 |
| China Construction Bank Corp., 2.85%, 01/21/32, <br> (5-year CMT + 1.400%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 800 | 767758 |
| China Construction Bank Corp./Hong Kong, 1.46%, <br> 04/22/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 382238 |
| China Construction Bank Corp/Dubai, 5.73%, <br> 11/30/26, (1-day SOFR Index + 0.650%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 200377 |
| China Construction Bank Corp/Hong Kong, 5.39%, <br> 07/16/27, (1-day SOFR Index + 0.550%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 199858 |
| China Development Bank |  |  |
| 3.00%, 06/01/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 391211 |
| 3.38%, 01/24/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196772 |
| China Merchants Bank Co. Ltd./Luxembourg <br> Branch, 1.25%, 09/01/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 187935 |
| CIMB Bank Bhd, 2.13%, 07/20/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 186961 |
| Citibank NA |  |  |
| 4.84%, 08/06/29 | &nbsp;&nbsp; 500 | 501550 |
| 4.93%, 08/06/26 | &nbsp;&nbsp; 265 | 266640 |
| 5.44%, 04/30/26 | &nbsp;&nbsp; 755 | 764066 |
| 5.49%, 12/04/26 | &nbsp;&nbsp; 560 | 570372 |
| 5.80%, 09/29/28 | &nbsp;&nbsp; 805 | 835901 |
| Citigroup Inc. |  |  |
| 1.12%, 01/28/27, (1-day SOFR + 0.765%)<sup>(a)</sup> | &nbsp;&nbsp; 723 | 690299 |
| 1.46%, 06/09/27, (1-day SOFR + 0.770%)<sup>(a)</sup> | &nbsp;&nbsp; 955 | 905915 |
| 3.07%, 02/24/28, (1-day SOFR + 1.280%)<sup>(a)</sup> | &nbsp;&nbsp; 930 | 894501 |
| 3.20%, 10/21/26 | &nbsp;&nbsp; 985 | 957242 |
| 3.40%, 05/01/26 | &nbsp;&nbsp; 445 | 436633 |
| 3.52%, 10/27/28, <br> (3-mo. CME Term SOFR + 1.413%)<sup>(a)</sup><br>| &nbsp;&nbsp; 825 | 794627 |
| 3.67%, 07/24/28, <br> (3-mo. CME Term SOFR + 1.652%)<sup>(a)</sup><br>| &nbsp;&nbsp; 880 | 852712 |
| 3.70%, 01/12/26 | &nbsp;&nbsp; 610 | 602859 |
| 3.89%, 01/10/28, <br> (3-mo. CME Term SOFR + 1.825%)<sup>(a)</sup><br>| &nbsp;&nbsp; 840 | 822853 |
| 3.98%, 03/20/30, <br> (3-mo. CME Term SOFR + 1.600%)<sup>(a)</sup><br>| &nbsp;&nbsp; 810 | 776828 |
| 4.08%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.454%)<sup>(a)</sup><br>| &nbsp;&nbsp; 745 | 724705 |
| 4.13%, 07/25/28 | &nbsp;&nbsp; 135 | 131675 |
| 4.30%, 11/20/26 | &nbsp;&nbsp; 335 | 331544 |
| 4.45%, 09/29/27 | &nbsp;&nbsp; 1270 | 1252869 |
| 4.54%, 09/19/30, (1-day SOFR + 1.338%)<sup>(a)</sup> | &nbsp;&nbsp; 790 | 773901 |
| 4.60%, 03/09/26 | &nbsp;&nbsp; 600 | 597991 |
| 4.66%, 05/24/28, (1-day SOFR + 1.887%)<sup>(a)</sup> | &nbsp;&nbsp; 610 | 607602 |
| 5.17%, 02/13/30, (1-day SOFR + 1.364%)<sup>(a)</sup> | &nbsp;&nbsp; 995 | 1000537 |
| 6.63%, 01/15/28 | &nbsp;&nbsp; 85 | 89630 |
| Citizens Bank NA, 4.58%, 08/09/28, <br> (1-day SOFR + 2.000%)<sup>(a)</sup><br>| &nbsp;&nbsp; 400 | 395797 |
| Citizens Financial Group Inc. |  |  |
| 2.85%, 07/27/26 | &nbsp;&nbsp; 142 | 136803 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.30%, 12/03/25 | &nbsp;&nbsp; $125 | $123927 |
| 5.84%, 01/23/30, (1-day SOFR + 2.010%)<sup>(a)</sup> | &nbsp;&nbsp; 205 | 209442 |
| Comerica Inc. |  |  |
| 4.00%, 02/01/29 | &nbsp;&nbsp; 150 | 142638 |
| 5.98%, 01/30/30, (1-day SOFR + 2.155%)<sup>(a)</sup> | &nbsp;&nbsp; 250 | 253336 |
| Commercial Bank of Dubai PSC |  |  |
| 5.32%, 06/14/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202380 |
| 6.00%, (6-year CMT + 5.597%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 198852 |
| Commercial Bank PSQC (The), 4.50%, <br> (5-year CMT + 3.874%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 194210 |
| Commonwealth Bank of Australia |  |  |
| 1.13%, 06/15/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 555 | 526516 |
| 2.55%, 03/14/27<sup>(b)</sup> | &nbsp;&nbsp; 530 | 507427 |
| 2.63%, 09/06/26<sup>(b)</sup> | &nbsp;&nbsp; 45 | 43559 |
| 2.85%, 05/18/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 380 | 371025 |
| 3.15%, 09/19/27<sup>(b)</sup> | &nbsp;&nbsp; 95 | 91732 |
| 3.61%, 09/12/34, (5-year CMT + 2.050%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 300 | 276962 |
| 3.90%, 03/16/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 95 | 93319 |
| 4.50%, 12/09/25<sup>(b)</sup> | &nbsp;&nbsp; 200 | 198595 |
| Commonwealth Bank of Australia/New York, 5.32%, <br> 03/13/26<br>| &nbsp;&nbsp; 405 | 409419 |
| Cooperatieve Rabobank UA |  |  |
| 1.11%, 02/24/27, (1-year CMT + 0.550%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 470 | 446988 |
| 1.98%, 12/15/27, (1-year CMT + 0.730%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 440 | 414499 |
| 4.66%, 08/22/28, (1-year CMT + 1.750%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 435 | 432275 |
| 5.45%, 03/05/30, (1-year CMT + 1.120%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 254263 |
| 5.56%, 02/28/29, (1-year CMT + 1.400%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 335 | 341407 |
| Cooperatieve Rabobank UA/New York |  |  |
| 4.49%, 10/17/29 | &nbsp;&nbsp; 250 | 246899 |
| 4.80%, 01/09/29 | &nbsp;&nbsp; 250 | 251434 |
| 4.85%, 01/09/26 | &nbsp;&nbsp; 250 | 250904 |
| 5.04%, 03/05/27 | &nbsp;&nbsp; 250 | 253342 |
| 5.50%, 10/05/26 | &nbsp;&nbsp; 360 | 366813 |
| Credit Agricole SA |  |  |
| 1.25%, 01/26/27, (1-day SOFR + 0.891%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 535 | 510304 |
| 2.02%, 01/11/27<sup>(b)</sup> | &nbsp;&nbsp; 480 | 453179 |
| 4.00%, 01/10/33, <br> (5-year USD Swap + 1.644%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 530 | 502507 |
| 4.63%, 09/11/28, (1-day SOFR + 1.210%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 315 | 312516 |
| 5.13%, 03/11/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 252487 |
| 5.30%, 07/12/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 274015 |
| 5.34%, 01/10/30, (1-day SOFR + 1.690%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 252319 |
| 5.59%, 07/05/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 253579 |
| 6.32%, 10/03/29, (1-day SOFR + 1.860%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 500 | 522853 |
| Dah Sing Bank Ltd., 3.00%, 11/02/31, <br> (5-year CMT + 1.950%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 250 | 237299 |
| Danske Bank A/S |  |  |
| 1.55%, 09/10/27, (1-year CMT + 0.730%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 355 | 334520 |
| 4.30%, 04/01/28, (1-year CMT + 1.750%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 440 | 433540 |
| 4.38%, 06/12/28<sup>(b)</sup> | &nbsp;&nbsp; 255 | 249700 |
| 4.61%, 10/02/30, (1-year CMT + 1.100%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 195236 |
| 5.43%, 03/01/28, (1-year CMT + 0.950%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 202350 |
| 5.71%, 03/01/30, (1-year CMT + 1.400%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 205 | 209346 |
| DBS Group Holdings Ltd., 1.82%, 03/10/31, <br> (5-year CMT + 1.100%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 191474 |
| Deutsche Bank AG |  |  |
| 4.10%, 01/13/26 | &nbsp;&nbsp; 55 | 54392 |
| 5.52%, 09/01/28 | &nbsp;&nbsp; 300 | 299071 |
| 5.58%, 09/01/26 | &nbsp;&nbsp; 300 | 301209 |
| Deutsche Bank AG/New York |  |  |
| 1.69%, 03/19/26 | &nbsp;&nbsp; 395 | 379293 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 2.13%, 11/24/26, (1-day SOFR + 1.870%)<sup>(a)</sup> | &nbsp;&nbsp; $650 | $629504 |
| 2.31%, 11/16/27, (1-day SOFR + 1.219%)<sup>(a)</sup> | &nbsp;&nbsp; 605 | 572119 |
| 2.55%, 01/07/28, (1-day SOFR + 1.318%)<sup>(a)</sup> | &nbsp;&nbsp; 455 | 430110 |
| 4.10%, 01/13/26 | &nbsp;&nbsp; 182 | 179892 |
| 4.88%, 12/01/32, <br> (5-year USD ICE Swap + 2.553%)<sup>(a)</sup><br>| &nbsp;&nbsp; 310 | 300837 |
| 5.00%, 09/11/30, (1-day SOFR + 1.700%)<sup>(a)</sup> | &nbsp;&nbsp; 300 | 295389 |
| 5.37%, 09/09/27 | &nbsp;&nbsp; 220 | 224463 |
| 5.41%, 05/10/29 | &nbsp;&nbsp; 190 | 192821 |
| 5.71%, 02/08/28, (1-day SOFR + 1.594%)<sup>(a)</sup> | &nbsp;&nbsp; 305 | 307993 |
| 6.72%, 01/18/29, (1-day SOFR + 3.180%)<sup>(a)</sup> | &nbsp;&nbsp; 470 | 489933 |
| 6.82%, 11/20/29, (1-day SOFR + 2.510%)<sup>(a)</sup> | &nbsp;&nbsp; 460 | 484782 |
| 7.15%, 07/13/27, (1-day SOFR + 2.520%)<sup>(a)</sup> | &nbsp;&nbsp; 300 | 309753 |
| Development Bank of Kazakhstan JSC, 5.50%, <br> 04/15/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 201715 |
| DIB Sukuk Ltd. |  |  |
| 1.96%, 06/22/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 380898 |
| 2.74%, 02/16/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 381262 |
| 2.95%, 01/16/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 585754 |
| 5.24%, 03/04/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203208 |
| 5.49%, 11/30/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204092 |
| DIB Tier 1 Sukuk 4 Ltd., 4.63%, <br> (6-year CMT + 4.077%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 195105 |
| DIB Tier 1 Sukuk 5 Ltd., 3.38%, <br> (6-year CMT + 2.246%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 188840 |
| Discover Bank |  |  |
| 3.45%, 07/27/26 | &nbsp;&nbsp; 250 | 243650 |
| 4.65%, 09/13/28 | &nbsp;&nbsp; 250 | 245712 |
| DNB Bank ASA |  |  |
| 1.54%, 05/25/27, (1-year CMT + 0.720%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 415 | 394051 |
| 5.08%, 11/05/30, (1-day SOFR + 1.050%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 199467 |
| Doha Finance Ltd. |  |  |
| 2.38%, 03/31/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192413 |
| 5.25%, 03/12/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201275 |
| EI Sukuk Co. Ltd. |  |  |
| 2.08%, 11/02/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189272 |
| 5.43%, 05/28/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205929 |
| Emirates Development Bank PJSC, 1.64%, <br> 06/15/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189785 |
| Emirates NBD Bank PJSC |  |  |
| 1.64%, 01/13/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 384816 |
| 4.25%, (6-year CMT + 3.155%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 191612 |
| 5.88%, 10/11/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 208712 |
| 6.13%, (6-year CMT + 5.702%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 201295 |
| 6.23%, 01/31/29, (1-day SOFR + 1.400%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 203694 |
| Esc Gcb Finance Of, 7.88%, 11/15/25 | &nbsp;&nbsp; 111 |  |
| Fab Sukuk Co. Ltd. |  |  |
| 1.41%, 01/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191780 |
| 4.58%, 01/17/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199756 |
| 4.78%, 01/23/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200188 |
| Federation des Caisses Desjardins du Quebec |  |  |
| 4.55%, 08/23/27<sup>(b)</sup> | &nbsp;&nbsp; 235 | 232870 |
| 5.25%, 04/26/29<sup>(b)</sup> | &nbsp;&nbsp; 245 | 247086 |
| 5.70%, 03/14/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 275675 |
| Fifth Third Bancorp |  |  |
| 1.71%, 11/01/27, (1-day SOFR + 0.685%)<sup>(a)</sup> | &nbsp;&nbsp; 185 | 174041 |
| 2.55%, 05/05/27 | &nbsp;&nbsp; 40 | 37975 |
| 3.95%, 03/14/28 | &nbsp;&nbsp; 155 | 150666 |
| 4.06%, 04/25/28, (1-day SOFR + 1.355%)<sup>(a)</sup> | &nbsp;&nbsp; 330 | 322678 |
| 4.77%, 07/28/30, <br> (1-day SOFR Index + 2.127%)<sup>(a)</sup><br>| &nbsp;&nbsp; 265 | 260752 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.90%, 09/06/30, (1-day SOFR + 1.486%)<sup>(a)</sup> | &nbsp;&nbsp; $200 | $197764 |
| 6.34%, 07/27/29, (1-day SOFR + 2.340%)<sup>(a)</sup> | &nbsp;&nbsp; 345 | 360148 |
| 6.36%, 10/27/28, <br> (1-day SOFR Index + 2.192%)<sup>(a)</sup><br>| &nbsp;&nbsp; 232 | 240682 |
| Fifth Third Bank NA, 2.25%, 02/01/27 | &nbsp;&nbsp; 250 | 237246 |
| Finance of America Funding LLC |  |  |
| 7.88%, 11/30/27<sup>(b)</sup> | &nbsp;&nbsp; 63 | 56451 |
| 10.00%, 11/30/29<sup>(b)</sup> | &nbsp;&nbsp; 47 | 39639 |
| First Abu Dhabi Bank PJSC |  |  |
| 4.38%, 04/24/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197615 |
| 4.50%, (5-year CMT + 4.138%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 400 | 390873 |
| 4.77%, 06/06/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199844 |
| 5.00%, 02/28/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200762 |
| 5.13%, 10/13/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202265 |
| 5.89%, 07/22/29, (1-day SOFR + 1.050%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 200883 |
| 6.03%, 01/29/29, (1-day SOFR + 1.200%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 200036 |
| 6.32%, 04/04/34, (5-year CMT + 1.700%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 205662 |
| First-Citizens Bank & Trust Co., 6.13%, 03/09/28 | &nbsp;&nbsp; 35 | 36161 |
| Freedom Mortgage Corp. |  |  |
| 6.63%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 180 | 177937 |
| 7.63%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 175 | 175649 |
| 12.00%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 270233 |
| Goldman Sachs Bank USA/New York |  |  |
| 5.28%, 03/18/27, (1-day SOFR +0.777%)<sup>(a)</sup> | &nbsp;&nbsp; 420 | 422610 |
| 5.41%, 05/21/27, (1-day SOFR +0.750%)<sup>(a)</sup> | &nbsp;&nbsp; 560 | 565259 |
| Goldman Sachs Group Inc. (The) |  |  |
| 1.09%, 12/09/26, (1-day SOFR + 0.789%)<sup>(a)</sup> | &nbsp;&nbsp; 785 | 752464 |
| 1.43%, 03/09/27, (1-day SOFR + 0.798%)<sup>(a)</sup> | &nbsp;&nbsp; 969 | 925189 |
| 1.54%, 09/10/27, (1-day SOFR + 0.818%)<sup>(a)</sup> | &nbsp;&nbsp; 1021 | 961766 |
| 1.95%, 10/21/27, (1-day SOFR + 0.913%)<sup>(a)</sup> | &nbsp;&nbsp; 1435 | 1356856 |
| 2.64%, 02/24/28, (1-day SOFR + 1.114%)<sup>(a)</sup> | &nbsp;&nbsp; 1093 | 1040603 |
| 3.50%, 11/16/26 | &nbsp;&nbsp; 744 | 726020 |
| 3.62%, 03/15/28, (1-day SOFR + 1.846%)<sup>(a)</sup> | &nbsp;&nbsp; 1170 | 1137500 |
| 3.69%, 06/05/28, <br> (3-mo. CME Term SOFR + 1.772%)<sup>(a)</sup><br>| &nbsp;&nbsp; 960 | 933353 |
| 3.75%, 02/25/26 | &nbsp;&nbsp; 725 | 715935 |
| 3.81%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.420%)<sup>(a)</sup><br>| &nbsp;&nbsp; 740 | 713364 |
| 3.85%, 01/26/27 | &nbsp;&nbsp; 1039 | 1018822 |
| 4.22%, 05/01/29, <br> (3-mo. CME Term SOFR + 1.563%)<sup>(a)</sup><br>| &nbsp;&nbsp; 1050 | 1025891 |
| 4.39%, 06/15/27, (1-day SOFR + 1.510%)<sup>(a)</sup> | &nbsp;&nbsp; 395 | 392736 |
| 4.48%, 08/23/28, (1-day SOFR + 1.725%)<sup>(a)</sup> | &nbsp;&nbsp; 910 | 901989 |
| 4.69%, 10/23/30, (1-day SOFR + 1.135%)<sup>(a)</sup> | &nbsp;&nbsp; 580 | 572782 |
| 5.05%, 07/23/30, (1-day SOFR + 1.210%)<sup>(a)</sup> | &nbsp;&nbsp; 635 | 636425 |
| 5.73%, 04/25/30, (1-day SOFR +1.265%)<sup>(a)</sup> | &nbsp;&nbsp; 670 | 688815 |
| 5.95%, 01/15/27 | &nbsp;&nbsp; 313 | 321030 |
| 6.48%, 10/24/29, (1-day SOFR + 1.770%)<sup>(a)</sup> | &nbsp;&nbsp; 695 | 733220 |
| HDFC Bank Ltd., 5.18%, 02/15/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201176 |
| HDFC Bank Ltd./Gandhinagar, 5.69%, 03/02/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201606 |
| HSBC Holdings PLC |  |  |
| 1.59%, 05/24/27, (1-day SOFR + 1.290%)<sup>(a)</sup> | &nbsp;&nbsp; 20 | 19003 |
| 2.01%, 09/22/28, (1-day SOFR + 1.732%)<sup>(a)</sup> | &nbsp;&nbsp; 450 | 414503 |
| 2.21%, 08/17/29, (1-day SOFR + 1.285%)<sup>(a)</sup> | &nbsp;&nbsp; 620 | 558325 |
| 2.25%, 11/22/27, (1-day SOFR + 1.100%)<sup>(a)</sup> | &nbsp;&nbsp; 440 | 417360 |
| 3.97%, 05/22/30, <br> (3-mo. CME Term SOFR + 1.872%)<sup>(a)</sup><br>| &nbsp;&nbsp; 825 | 785836 |
| 4.04%, 03/13/28, <br> (3-mo. CME Term SOFR + 1.808%)<sup>(a)</sup><br>| &nbsp;&nbsp; 840 | 822904 |
| 4.38%, 11/23/26 | &nbsp;&nbsp; 575 | 568605 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.58%, 06/19/29, <br> (3-mo. CME Term SOFR + 1.796%)<sup>(a)</sup><br>| &nbsp;&nbsp; $885 | $870202 |
| 4.76%, 06/09/28, (1-day SOFR + 2.110%)<sup>(a)</sup> | &nbsp;&nbsp; 805 | 800788 |
| 5.21%, 08/11/28, (1-day SOFR + 2.610%)<sup>(a)</sup> | &nbsp;&nbsp; 870 | 875695 |
| 5.55%, 03/04/30, (1-day SOFR + 1.460%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 406194 |
| 5.60%, 05/17/28, (1-day SOFR + 1.060%)<sup>(a)</sup> | &nbsp;&nbsp; 340 | 345064 |
| 5.89%, 08/14/27, (1-day SOFR + 1.570%)<sup>(a)</sup> | &nbsp;&nbsp; 800 | 813971 |
| 6.16%, 03/09/29, (1-day SOFR + 1.970%)<sup>(a)</sup> | &nbsp;&nbsp; 770 | 796836 |
| 7.34%, 11/03/26, (1-day SOFR + 3.030%)<sup>(a)</sup> | &nbsp;&nbsp; 620 | 634005 |
| 7.39%, 11/03/28, (1-day SOFR + 3.350%)<sup>(a)</sup> | &nbsp;&nbsp; 805 | 857542 |
| HSBC USA Inc., 5.29%, 03/04/27 | &nbsp;&nbsp; 205 | 207874 |
| Huntington Bancshares Inc./Ohio |  |  |
| 4.44%, 08/04/28, (1-day SOFR + 1.970%)<sup>(a)</sup> | &nbsp;&nbsp; 300 | 296224 |
| 6.21%, 08/21/29, (1-day SOFR + 2.020%)<sup>(a)</sup> | &nbsp;&nbsp; 235 | 243862 |
| Huntington National Bank (The), 4.55%, 05/17/28, <br> (1-day SOFR Index + 1.650%)<sup>(a)</sup><br>| &nbsp;&nbsp; 275 | 273051 |
| ICICI Bank Ltd./Dubai, 4.00%, 03/18/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 395156 |
| Industrial & Commercial Bank of China Ltd., 3.20%, <br> (5-year CMT + 2.368%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 2800 | 2718852 |
| Industrial & Commercial Bank of China Ltd./Hong <br> Kong, 1.63%, 10/28/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 188681 |
| Industrial & Commercial Bank of China Ltd./New <br> York, 3.54%, 11/08/27<br>| &nbsp;&nbsp; 250 | 243032 |
| Industrial Bank Co. Ltd./Hong Kong, 4.82%, <br> 08/14/27, (1-day SOFR Index + 0.560%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 199816 |
| ING Groep NV |  |  |
| 1.73%, 04/01/27, (1-day SOFR + 1.005%)<sup>(a)</sup> | &nbsp;&nbsp; 390 | 373099 |
| 3.95%, 03/29/27 | &nbsp;&nbsp; 460 | 450735 |
| 4.02%, 03/28/28, (1-day SOFR + 1.830%)<sup>(a)</sup> | &nbsp;&nbsp; 470 | 460445 |
| 4.05%, 04/09/29 | &nbsp;&nbsp; 300 | 290057 |
| 4.55%, 10/02/28 | &nbsp;&nbsp; 320 | 316116 |
| 4.63%, 01/06/26<sup>(b)</sup> | &nbsp;&nbsp; 455 | 454197 |
| 5.34%, 03/19/30, (1-day SOFR + 1.440%)<sup>(a)</sup> | &nbsp;&nbsp; 395 | 400119 |
| 6.08%, 09/11/27, (1-day SOFR + 1.560%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 204410 |
| Intesa Sanpaolo SpA |  |  |
| 3.88%, 01/12/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 192350 |
| 5.71%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 450 | 450624 |
| 7.00%, 11/21/25<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204229 |
| Series XR, 4.00%, 09/23/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 188347 |
| Israel Discount Bank Ltd., 5.38%, 01/26/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 197738 |
| JPMorgan Chase & Co. |  |  |
| 1.04%, 02/04/27, <br> (3-mo. CME Term SOFR + 0.695%)<sup>(a)</sup><br>| &nbsp;&nbsp; 770 | 734100 |
| 1.05%, 11/19/26, (1-day SOFR + 0.800%)<sup>(a)</sup> | &nbsp;&nbsp; 820 | 787662 |
| 1.47%, 09/22/27, (1-day SOFR + 0.765%)<sup>(a)</sup> | &nbsp;&nbsp; 1159 | 1090442 |
| 1.58%, 04/22/27, (1-day SOFR + 0.885%)<sup>(a)</sup> | &nbsp;&nbsp; 1188 | 1133668 |
| 2.07%, 06/01/29, (1-day SOFR + 1.015%)<sup>(a)</sup> | &nbsp;&nbsp; 245 | 222688 |
| 2.18%, 06/01/28, (1-day SOFR + 1.890%)<sup>(a)</sup> | &nbsp;&nbsp; 490 | 458902 |
| 2.74%, 10/15/30, <br> (3-mo. CME Term SOFR + 1.510%)<sup>(a)</sup><br>| &nbsp;&nbsp; 650 | 587821 |
| 2.95%, 10/01/26 | &nbsp;&nbsp; 920 | 893895 |
| 2.95%, 02/24/28, (1-day SOFR + 1.170%)<sup>(a)</sup> | &nbsp;&nbsp; 500 | 479879 |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 440 | 430850 |
| 3.30%, 04/01/26 | &nbsp;&nbsp; 771 | 757300 |
| 3.51%, 01/23/29, <br> (3-mo. CME Term SOFR + 1.207%)<sup>(a)</sup><br>| &nbsp;&nbsp; 670 | 643750 |
| 3.54%, 05/01/28, <br> (3-mo. CME Term SOFR + 1.642%)<sup>(a)</sup><br>| &nbsp;&nbsp; 1187 | 1151399 |
| 3.63%, 12/01/27 | &nbsp;&nbsp; 355 | 343003 |
| 3.70%, 05/06/30, <br> (3-mo. CME Term SOFR + 1.422%)<sup>(a)</sup><br>| &nbsp;&nbsp; 775 | 736907 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.78%, 02/01/28, <br> (3-mo. CME Term SOFR + 1.599%)<sup>(a)</sup><br>| &nbsp;&nbsp; $905 | $885293 |
| 3.96%, 01/29/27, <br> (3-mo. CME Term SOFR + 1.507%)<sup>(a)</sup><br>| &nbsp;&nbsp; 793 | 784817 |
| 4.01%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.382%)<sup>(a)</sup><br>| &nbsp;&nbsp; 340 | 330589 |
| 4.13%, 12/15/26 | &nbsp;&nbsp; 470 | 465301 |
| 4.20%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.522%)<sup>(a)</sup><br>| &nbsp;&nbsp; 800 | 781386 |
| 4.25%, 10/01/27 | &nbsp;&nbsp; 175 | 173516 |
| 4.32%, 04/26/28, (1-day SOFR + 1.560%)<sup>(a)</sup> | &nbsp;&nbsp; 1296 | 1282176 |
| 4.45%, 12/05/29, <br> (3-mo. CME Term SOFR + 1.592%)<sup>(a)</sup><br>| &nbsp;&nbsp; 840 | 825741 |
| 4.51%, 10/22/28, (1-day SOFR + 0.860%)<sup>(a)</sup> | &nbsp;&nbsp; 375 | 372490 |
| 4.57%, 06/14/30, (1-day SOFR + 1.750%)<sup>(a)</sup> | &nbsp;&nbsp; 600 | 590738 |
| 4.60%, 10/22/30, (1-day SOFR + 1.040%)<sup>(a)</sup> | &nbsp;&nbsp; 725 | 715217 |
| 4.85%, 07/25/28, (1-day SOFR + 1.990%)<sup>(a)</sup> | &nbsp;&nbsp; 1450 | 1452290 |
| 4.98%, 07/22/28, (1-day SOFR + 0.930%)<sup>(a)</sup> | &nbsp;&nbsp; 185 | 185889 |
| 5.00%, 07/22/30, (1-day SOFR +1.125%)<sup>(a)</sup> | &nbsp;&nbsp; 825 | 827368 |
| 5.01%, 01/23/30, (1-day SOFR + 1.310%)<sup>(a)</sup> | &nbsp;&nbsp; 725 | 728052 |
| 5.04%, 01/23/28, (1-day SOFR + 1.190%)<sup>(a)</sup> | &nbsp;&nbsp; 335 | 336754 |
| 5.30%, 07/24/29, (1-day SOFR + 1.450%)<sup>(a)</sup> | &nbsp;&nbsp; 765 | 776006 |
| 5.57%, 04/22/28, (1-day SOFR + 0.930%)<sup>(a)</sup> | &nbsp;&nbsp; 735 | 748053 |
| 5.58%, 04/22/30, (1-day SOFR +1.160%)<sup>(a)</sup> | &nbsp;&nbsp; 800 | 820241 |
| 6.07%, 10/22/27, (1-day SOFR + 1.330%)<sup>(a)</sup> | &nbsp;&nbsp; 685 | 701751 |
| 6.09%, 10/23/29, (1-day SOFR + 1.570%)<sup>(a)</sup> | &nbsp;&nbsp; 655 | 683056 |
| 7.63%, 10/15/26 | &nbsp;&nbsp; 300 | 316749 |
| 8.00%, 04/29/27 | &nbsp;&nbsp; 300 | 323651 |
| JPMorgan Chase Bank NA, 5.11%, 12/08/26 | &nbsp;&nbsp; 500 | 505826 |
| Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31, <br> (5-year CMT + 1.700%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 400 | 381153 |
| KBC Group NV |  |  |
| 4.93%, 10/16/30, (1-year CMT + 1.070%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 197979 |
| 5.80%, 01/19/29, (1-year CMT + 2.100%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 305 | 311303 |
| KEB Hana Bank |  |  |
| 1.25%, 12/16/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 186160 |
| 3.25%, 03/30/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193724 |
| 5.75%, 10/24/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 207009 |
| KeyBank NA/Cleveland OH |  |  |
| 4.39%, 12/14/27 | &nbsp;&nbsp; 250 | 244449 |
| 5.85%, 11/15/27 | &nbsp;&nbsp; 450 | 461030 |
| KeyCorp |  |  |
| 2.25%, 04/06/27 | &nbsp;&nbsp; 200 | 187765 |
| 2.55%, 10/01/29 | &nbsp;&nbsp; 200 | 177973 |
| 4.10%, 04/30/28 | &nbsp;&nbsp; 180 | 174842 |
| KFH Sukuk Co., 5.01%, 01/17/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201194 |
| Kodit Global the1st Securitization Specialty Co. Ltd., <br> 4.95%, 05/25/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 199895 |
| Kookmin Bank |  |  |
| 1.38%, 05/06/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 380387 |
| 4.50%, 02/01/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194403 |
| 5.25%, 05/08/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203824 |
| Korea Development Bank (The) |  |  |
| 0.80%, 07/19/26 | &nbsp;&nbsp; 200 | 187559 |
| 1.00%, 09/09/26 | &nbsp;&nbsp; 400 | 374721 |
| 2.25%, 02/24/27 | &nbsp;&nbsp; 200 | 190601 |
| 3.00%, 01/13/26 | &nbsp;&nbsp; 800 | 785104 |
| Kreditanstalt fuer Wiederaufbau |  |  |
| 0.63%, 01/22/26 | &nbsp;&nbsp; 3645 | 3484274 |
| 1.00%, 10/01/26 | &nbsp;&nbsp; 747 | 703201 |
| 1.75%, 09/14/29 | &nbsp;&nbsp; 25 | 22316 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 2.88%, 04/03/28 | &nbsp;&nbsp; $250 | $239728 |
| 3.00%, 05/20/27 | &nbsp;&nbsp; 195 | 189488 |
| 3.50%, 08/27/27 | &nbsp;&nbsp; 800 | 785802 |
| 3.63%, 04/01/26 | &nbsp;&nbsp; 50 | 49532 |
| 3.75%, 02/15/28 | &nbsp;&nbsp; 2035 | 2008382 |
| 3.88%, 06/15/28 | &nbsp;&nbsp; 3068 | 3037540 |
| 4.00%, 03/15/29<sup>(c)</sup> | &nbsp;&nbsp; 1438 | 1427005 |
| 4.13%, 01/31/28 | &nbsp;&nbsp; 85 | 84758 |
| 4.38%, 03/01/27 | &nbsp;&nbsp; 1105 | 1109866 |
| 4.63%, 08/07/26 | &nbsp;&nbsp; 1478 | 1487766 |
| 5.00%, 03/16/26 | &nbsp;&nbsp; 10 | 10090 |
| Landeskreditbank <br> Baden-Wuerttemberg Foerderbank<br>|  |  |
| 0.50%, 12/08/25<sup>(d)</sup> | &nbsp;&nbsp; 60 | 57426 |
| 1.38%, 10/12/28<sup>(d)</sup> | &nbsp;&nbsp; 110 | 98705 |
| 4.88%, 03/09/26<sup>(d)</sup> | &nbsp;&nbsp; 50 | 50227 |
| Landwirtschaftliche Rentenbank |  |  |
| 0.88%, 03/30/26 | &nbsp;&nbsp; 362 | 344557 |
| 1.00%, 02/25/28<sup>(d)</sup> | &nbsp;&nbsp; 65 | 58643 |
| 1.75%, 07/27/26 | &nbsp;&nbsp; 340 | 325529 |
| 1.75%, 01/14/27<sup>(d)</sup> | &nbsp;&nbsp; 220 | 208402 |
| 3.00%, 05/21/29<sup>(d)</sup> | &nbsp;&nbsp; 375 | 355895 |
| 3.88%, 09/28/27 | &nbsp;&nbsp; 142 | 140707 |
| 3.88%, 06/14/28 | &nbsp;&nbsp; 1030 | 1018818 |
| 4.63%, 04/17/29 | &nbsp;&nbsp; 5 | 5081 |
| Series 37, 2.50%, 11/15/27 | &nbsp;&nbsp; 1085 | 1032561 |
| LG Electronics Inc., 5.63%, 04/24/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203116 |
| Lloyds Banking Group PLC |  |  |
| 1.63%, 05/11/27, (1-year CMT + 0.850%)<sup>(a)</sup> | &nbsp;&nbsp; 560 | 532708 |
| 3.57%, 11/07/28, (3-mo. LIBOR US + 1.205%)<sup>(a)</sup> | &nbsp;&nbsp; 365 | 351024 |
| 3.75%, 03/18/28, (1-year CMT + 1.800%)<sup>(a)</sup> | &nbsp;&nbsp; 515 | 501356 |
| 4.38%, 03/22/28 | &nbsp;&nbsp; 545 | 535042 |
| 4.65%, 03/24/26 | &nbsp;&nbsp; 648 | 643284 |
| 5.46%, 01/05/28, (1-year CMT + 1.375%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 404648 |
| 5.72%, 06/05/30, (1-year CMT + 1.070%)<sup>(a)</sup> | &nbsp;&nbsp; 395 | 404533 |
| 5.87%, 03/06/29, (1-year CMT + 1.700%)<sup>(a)</sup> | &nbsp;&nbsp; 545 | 558912 |
| 5.99%, 08/07/27, (1-year CMT + 1.480%)<sup>(a)</sup> | &nbsp;&nbsp; 595 | 606079 |
| M&T Bank Corp. |  |  |
| 4.55%, 08/16/28, <br> (1-day SOFR Index + 1.780%)<sup>(a)</sup><br>| &nbsp;&nbsp; 355 | 350639 |
| 7.41%, 10/30/29, (1-day SOFR + 2.800%)<sup>(a)</sup> | &nbsp;&nbsp; 90 | 96870 |
| Macquarie Bank Ltd. |  |  |
| 3.90%, 01/15/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 240 | 237795 |
| 5.21%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 120 | 121132 |
| 5.27%, 07/02/27<sup>(b)</sup> | &nbsp;&nbsp; 245 | 249401 |
| 5.39%, 12/07/26<sup>(b)</sup> | &nbsp;&nbsp; 265 | 269463 |
| Macquarie Group Ltd. |  |  |
| 1.34%, 01/12/27, (1-day SOFR + 1.069%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 420 | 402146 |
| 1.63%, 09/23/27, (1-day SOFR + 0.910%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 420 | 394865 |
| 1.94%, 04/14/28, (1-day SOFR + 0.995%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 210 | 195043 |
| 3.76%, 11/28/28, <br> (3-mo. LIBOR US + 1.372%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 370 | 357229 |
| 4.10%, 06/21/28, (1-day SOFR + 2.125%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 125 | 122343 |
| 4.65%, 03/27/29, <br> (3-mo. LIBOR US + 1.727%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10 | 9880 |
| 5.03%, 01/15/30, <br> (3-mo. LIBOR US + 1.750%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 190 | 189600 |
| Manufacturers & Traders Trust Co. |  |  |
| 3.40%, 08/17/27 | &nbsp;&nbsp; 10 | 9589 |
| 4.65%, 01/27/26 | &nbsp;&nbsp; 455 | 453135 |
| 4.70%, 01/27/28 | &nbsp;&nbsp; 460 | 454723 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.40%, 11/21/25 | &nbsp;&nbsp; $250 | $251159 |
| Mashreqbank PSC, 7.88%, 02/24/33, <br> (5-year CMT + 3.997%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 213429 |
| Metropolitan Bank & Trust Co., 2.13%, 01/15/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193062 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 1.54%, 07/20/27, (1-year CMT + 0.750%)<sup>(a)</sup> | &nbsp;&nbsp; 825 | 781156 |
| 1.64%, 10/13/27, (1-year CMT + 0.670%)<sup>(a)</sup> | &nbsp;&nbsp; 560 | 527934 |
| 2.34%, 01/19/28, (1-year CMT + 0.830%)<sup>(a)</sup> | &nbsp;&nbsp; 375 | 356005 |
| 2.76%, 09/13/26 | &nbsp;&nbsp; 200 | 193456 |
| 3.20%, 07/18/29 | &nbsp;&nbsp; 500 | 466281 |
| 3.29%, 07/25/27 | &nbsp;&nbsp; 135 | 130889 |
| 3.68%, 02/22/27 | &nbsp;&nbsp; 200 | 196287 |
| 3.74%, 03/07/29 | &nbsp;&nbsp; 300 | 289392 |
| 3.85%, 03/01/26 | &nbsp;&nbsp; 700 | 692858 |
| 3.96%, 03/02/28 | &nbsp;&nbsp; 350 | 342817 |
| 4.05%, 09/11/28 | &nbsp;&nbsp; 290 | 284612 |
| 4.08%, 04/19/28, (1-year CMT + 1.300%)<sup>(a)</sup> | &nbsp;&nbsp; 365 | 359119 |
| 5.02%, 07/20/28, (1-year CMT + 1.950%)<sup>(a)</sup> | &nbsp;&nbsp; 535 | 538490 |
| 5.24%, 04/19/29, (1-year CMT + 1.700%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 202915 |
| 5.26%, 04/17/30, (1-year CMT + 0.820%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 202835 |
| 5.35%, 09/13/28, (1-year CMT + 1.900%)<sup>(a)</sup> | &nbsp;&nbsp; 390 | 396766 |
| 5.42%, 02/22/29, (1-year CMT + 1.380%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 407794 |
| Mizuho Financial Group Inc. |  |  |
| 1.23%, 05/22/27, (1-year CMT + 0.670%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 378772 |
| 1.55%, 07/09/27, (1-year CMT + 0.750%)<sup>(a)</sup> | &nbsp;&nbsp; 360 | 341040 |
| 2.84%, 09/13/26 | &nbsp;&nbsp; 200 | 193722 |
| 2.87%, 09/13/30, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(a)</sup><br>| &nbsp;&nbsp; 25 | 22683 |
| 3.15%, 07/16/30, <br> (3-mo. CME Term SOFR + 1.392%)<sup>(a)</sup><br>| &nbsp;&nbsp; 215 | 198651 |
| 3.17%, 09/11/27 | &nbsp;&nbsp; 300 | 287755 |
| 3.26%, 05/22/30, (1-year CMT + 1.250%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 186184 |
| 3.48%, 04/12/26<sup>(b)</sup> | &nbsp;&nbsp; 605 | 594165 |
| 3.66%, 02/28/27 | &nbsp;&nbsp; 205 | 200088 |
| 4.02%, 03/05/28 | &nbsp;&nbsp; 455 | 444875 |
| 4.25%, 09/11/29, <br> (3-mo. CME Term SOFR + 1.532%)<sup>(a)</sup><br>| &nbsp;&nbsp; 315 | 307437 |
| 5.38%, 05/26/30, (1-year CMT + 1.120%)<sup>(a)</sup> | &nbsp;&nbsp; 210 | 213173 |
| 5.38%, 07/10/30, (1-year CMT + 1.080%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 203115 |
| 5.41%, 09/13/28, (1-year CMT + 2.050%)<sup>(a)</sup> | &nbsp;&nbsp; 300 | 304798 |
| 5.67%, 05/27/29, (1-year CMT + 1.500%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 205136 |
| 5.78%, 07/06/29, (1-year CMT + 1.650%)<sup>(a)</sup> | &nbsp;&nbsp; 420 | 431808 |
| Morgan Stanley |  |  |
| 0.99%, 12/10/26, (1-day SOFR + 0.720%)<sup>(a)</sup> | &nbsp;&nbsp; 848 | 812414 |
| 1.51%, 07/20/27, (1-day SOFR + 0.858%)<sup>(a)</sup> | &nbsp;&nbsp; 860 | 813775 |
| 1.59%, 05/04/27, (1-day SOFR + 0.879%)<sup>(a)</sup> | &nbsp;&nbsp; 1085 | 1034520 |
| 2.48%, 01/21/28, (1-day SOFR + 1.000%)<sup>(a)</sup> | &nbsp;&nbsp; 880 | 837101 |
| 3.13%, 07/27/26 | &nbsp;&nbsp; 802 | 782069 |
| 3.59%, 07/22/28<sup>(a)</sup> | &nbsp;&nbsp; 1105 | 1071063 |
| 3.63%, 01/20/27 | &nbsp;&nbsp; 925 | 907767 |
| 3.77%, 01/24/29, <br> (3-mo. CME Term SOFR + 1.402%)<sup>(a)</sup><br>| &nbsp;&nbsp; 980 | 948346 |
| 3.88%, 01/27/26 | &nbsp;&nbsp; 845 | 837356 |
| 3.95%, 04/23/27 | &nbsp;&nbsp; 789 | 774679 |
| 4.21%, 04/20/28, (1-day SOFR + 1.610%)<sup>(a)</sup> | &nbsp;&nbsp; 870 | 858948 |
| 4.35%, 09/08/26 | &nbsp;&nbsp; 600 | 595934 |
| 4.43%, 01/23/30, <br> (3-mo. CME Term SOFR + 1.89%)<sup>(a)</sup><br>| &nbsp;&nbsp; 900 | 882209 |
| 4.65%, 10/18/30, (1-day SOFR +1.100%)<sup>(a)</sup> | &nbsp;&nbsp; 900 | 888079 |
| 5.00%, 11/24/25 | &nbsp;&nbsp; 535 | 536411 |
| 5.04%, 07/19/30, (1-day SOFR +1.215%)<sup>(a)</sup> | &nbsp;&nbsp; 675 | 677355 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.05%, 01/28/27, (1-day SOFR + 1.295%)<sup>(a)</sup> | &nbsp;&nbsp; $625 | $626810 |
| 5.12%, 02/01/29, (1-day SOFR + 1.730%)<sup>(a)</sup> | &nbsp;&nbsp; 917 | 924569 |
| 5.16%, 04/20/29, (1-day SOFR + 1.590%)<sup>(a)</sup> | &nbsp;&nbsp; 935 | 943117 |
| 5.17%, 01/16/30, (1-day SOFR + 1.450%)<sup>(a)</sup> | &nbsp;&nbsp; 830 | 837249 |
| 5.45%, 07/20/29, (1-day SOFR + 1.630%)<sup>(a)</sup> | &nbsp;&nbsp; 665 | 678069 |
| 5.65%, 04/13/28, (1-day SOFR +1.010%)<sup>(a)</sup> | &nbsp;&nbsp; 420 | 428271 |
| 5.66%, 04/18/30, (1-day SOFR +1.260%)<sup>(a)</sup> | &nbsp;&nbsp; 640 | 657219 |
| 6.25%, 08/09/26 | &nbsp;&nbsp; 340 | 349271 |
| 6.30%, 10/18/28, (1-day SOFR + 2.240%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 416305 |
| 6.41%, 11/01/29, (1-day SOFR + 1.830%)<sup>(a)</sup> | &nbsp;&nbsp; 515 | 542366 |
| Morgan Stanley Bank NA |  |  |
| 4.45%, 10/15/27, (1-day SOFR + 0.680%)<sup>(a)</sup> | &nbsp;&nbsp; 1000 | 994863 |
| 4.75%, 04/21/26 | &nbsp;&nbsp; 350 | 351188 |
| 4.95%, 01/14/28, (1-day SOFR + 1.080%)<sup>(a)</sup> | &nbsp;&nbsp; 425 | 426799 |
| 4.97%, 07/14/28, (1-day SOFR +0.930%)<sup>(a)</sup> | &nbsp;&nbsp; 250 | 251227 |
| 5.50%, 05/26/28, (1-day SOFR +0.865%)<sup>(a)</sup> | &nbsp;&nbsp; 500 | 508576 |
| 5.88%, 10/30/26 | &nbsp;&nbsp; 500 | 512480 |
| Movida Europe SA, 7.85%, 04/11/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189336 |
| Nanyang Commercial Bank Ltd., 6.00%, 08/06/34, <br> (5-year CMT + 2.100%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 250 | 252736 |
| National Australia Bank Ltd. |  |  |
| 1.89%, 01/12/27<sup>(b)</sup> | &nbsp;&nbsp; 490 | 463314 |
| 3.50%, 01/10/27<sup>(b)</sup> | &nbsp;&nbsp; 60 | 58747 |
| 3.93%, 08/02/34, (5-year CMT + 1.880%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 375481 |
| National Australia Bank Ltd./New York |  |  |
| 2.50%, 07/12/26 | &nbsp;&nbsp; 485 | 469618 |
| 3.38%, 01/14/26 | &nbsp;&nbsp; 250 | 246553 |
| 3.91%, 06/09/27 | &nbsp;&nbsp; 485 | 478101 |
| 4.75%, 12/10/25 | &nbsp;&nbsp; 250 | 250397 |
| 4.79%, 01/10/29 | &nbsp;&nbsp; 250 | 251976 |
| 4.90%, 06/13/28 | &nbsp;&nbsp; 370 | 373911 |
| 4.94%, 01/12/28 | &nbsp;&nbsp; 310 | 313358 |
| 4.97%, 01/12/26 | &nbsp;&nbsp; 250 | 251125 |
| 5.09%, 06/11/27 | &nbsp;&nbsp; 250 | 253865 |
| National Bank of Canada |  |  |
| 4.50%, 10/10/29 | &nbsp;&nbsp; 250 | 244980 |
| 5.60%, 07/02/27, (1-day SOFR +1.036%)<sup>(a)</sup> | &nbsp;&nbsp; 250 | 252945 |
| 5.60%, 12/18/28 | &nbsp;&nbsp; 250 | 256470 |
| National Bank of Ras Al-Khaimah PSC, 5.38%, <br> 07/25/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 202922 |
| National Securities Clearing Corp. |  |  |
| 4.90%, 06/26/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 252646 |
| 5.00%, 05/30/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 252681 |
| 5.10%, 11/21/27<sup>(b)</sup> | &nbsp;&nbsp; 270 | 273491 |
| 5.15%, 06/26/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 252140 |
| NatWest Group PLC |  |  |
| 1.64%, 06/14/27, (1-year CMT + 0.900%)<sup>(a)</sup> | &nbsp;&nbsp; 515 | 489117 |
| 3.07%, 05/22/28, (1-year CMT + 2.550%)<sup>(a)</sup> | &nbsp;&nbsp; 300 | 287105 |
| 4.45%, 05/08/30, (3-mo. LIBOR US + 1.871%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 388588 |
| 4.80%, 04/05/26 | &nbsp;&nbsp; 205 | 205006 |
| 4.89%, 05/18/29, (3-mo. LIBOR US + 1.754%)<sup>(a)</sup> | &nbsp;&nbsp; 575 | 571074 |
| 4.96%, 08/15/30, (1-year CMT + 1.220%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 396508 |
| 5.08%, 01/27/30, (3-mo. LIBOR US + 1.905%)<sup>(a)</sup> | &nbsp;&nbsp; 410 | 408203 |
| 5.52%, 09/30/28, (1-year CMT + 2.270%)<sup>(a)</sup> | &nbsp;&nbsp; 325 | 329836 |
| 5.58%, 03/01/28, (1-year CMT + 1.100%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 202894 |
| 5.81%, 09/13/29, (1-year CMT + 1.950%)<sup>(a)</sup> | &nbsp;&nbsp; 415 | 425158 |
| 5.85%, 03/02/27, (1-year CMT + 1.350%)<sup>(a)</sup> | &nbsp;&nbsp; 430 | 434933 |
| 6.48%, 06/01/34, (5-year CMT + 2.200%)<sup>(a)</sup> | &nbsp;&nbsp; 305 | 315679 |
| 7.47%, 11/10/26, (1-year CMT + 2.850%)<sup>(a)</sup> | &nbsp;&nbsp; 525 | 537469 |
| NatWest Markets PLC |  |  |
| 1.60%, 09/29/26<sup>(b)</sup> | &nbsp;&nbsp; 435 | 410266 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.41%, 05/17/29<sup>(b)</sup> | &nbsp;&nbsp; $235 | $239403 |
| 5.42%, 05/17/27<sup>(b)</sup> | &nbsp;&nbsp; 270 | 274045 |
| NBK SPC Ltd., 1.63%, 09/15/27, <br> (1-day SOFR + 1.050%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 188031 |
| NBK Tier 1 Financing 2 Ltd., 4.50%, <br> (6-year CMT + 2.832%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 400 | 392329 |
| NBK Tier 1 Ltd., 3.63%, <br> (6-year CMT + 2.875%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 190066 |
| NCB Tier 1 Sukuk Ltd., 3.50%, <br> (6-year CMT + 2.889%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 400 | 382159 |
| Nederlandse Waterschapsbank NV, 2.38%, <br> 03/24/26<sup>(b)</sup><br>| &nbsp;&nbsp; 335 | 325772 |
| NongHyup Bank |  |  |
| 4.25%, 07/06/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197956 |
| 4.88%, 07/03/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200661 |
| Nordea Bank Abp |  |  |
| 1.50%, 09/30/26<sup>(b)</sup> | &nbsp;&nbsp; 360 | 339313 |
| 4.38%, 09/10/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196261 |
| 5.00%, 03/19/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201953 |
| 5.38%, 09/22/27<sup>(b)</sup> | &nbsp;&nbsp; 410 | 417087 |
| Norinchukin Bank (The) |  |  |
| 1.28%, 09/22/26<sup>(b)</sup> | &nbsp;&nbsp; 205 | 191329 |
| 4.87%, 09/14/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 209187 |
| 5.09%, 10/16/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200218 |
| 5.43%, 03/09/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202378 |
| Northern Trust Corp. |  |  |
| 3.15%, 05/03/29 | &nbsp;&nbsp; 25 | 23567 |
| 3.38%, 05/08/32, (3-mo. LIBOR US + 1.131%)<sup>(a)</sup> | &nbsp;&nbsp; 192 | 184302 |
| 4.00%, 05/10/27 | &nbsp;&nbsp; 380 | 376395 |
| NRW Bank |  |  |
| 0.88%, 03/09/26<sup>(d)</sup> | &nbsp;&nbsp; 395 | 376387 |
| 3.88%, 05/26/26<sup>(d)</sup> | &nbsp;&nbsp; 80 | 79299 |
| 4.63%, 11/04/25<sup>(d)</sup> | &nbsp;&nbsp; 96 | 95954 |
| 4.63%, 03/08/27<sup>(d)</sup> | &nbsp;&nbsp; 320 | 321782 |
| Oesterreichische Kontrollbank AG |  |  |
| 0.50%, 02/02/26 | &nbsp;&nbsp; 320 | 304677 |
| 3.63%, 09/09/27 | &nbsp;&nbsp; 70 | 68821 |
| 3.75%, 09/05/29 | &nbsp;&nbsp; 40 | 39150 |
| 4.13%, 01/20/26 | &nbsp;&nbsp; 30 | 29877 |
| 4.13%, 01/18/29 | &nbsp;&nbsp; 480 | 477277 |
| 4.25%, 03/01/28 | &nbsp;&nbsp; 185 | 185126 |
| 4.63%, 11/03/25 | &nbsp;&nbsp; 40 | 40030 |
| 4.75%, 05/21/27 | &nbsp;&nbsp; 550 | 556675 |
| 5.00%, 10/23/26 | &nbsp;&nbsp; 225 | 228003 |
| OTP Bank Nyrt |  |  |
| 7.50%, 05/25/27, (1-year CMT + 3.711%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 206876 |
| 8.75%, 05/15/33, (5-year CMT + 5.060%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 212523 |
| Oversea-Chinese Banking Corp. Ltd. |  |  |
| 4.60%, 06/15/32, (5-year CMT + 1.575%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 197909 |
| 5.52%, 05/21/34, (5-year CMT + 1.030%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 203056 |
| PNC Bank NA |  |  |
| 3.25%, 01/22/28 | &nbsp;&nbsp; 325 | 310568 |
| 4.05%, 07/26/28 | &nbsp;&nbsp; 250 | 243377 |
| PNC Financial Services Group Inc. (The) |  |  |
| 1.15%, 08/13/26 | &nbsp;&nbsp; 270 | 253970 |
| 2.60%, 07/23/26 | &nbsp;&nbsp; 280 | 270709 |
| 3.15%, 05/19/27 | &nbsp;&nbsp; 170 | 163920 |
| 3.45%, 04/23/29 | &nbsp;&nbsp; 460 | 436643 |
| 4.76%, 01/26/27, <br> (1-day SOFR Index + 1.085%)<sup>(a)</sup><br>| &nbsp;&nbsp; 754 | 753341 |
| 5.10%, 07/23/27, (1-day SOFR +0.796%)<sup>(a)</sup> | &nbsp;&nbsp; 325 | 327081 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.30%, 01/21/28, (1-day SOFR + 1.342%)<sup>(a)</sup> | &nbsp;&nbsp; $355 | $359569 |
| 5.35%, 12/02/28, (1-day SOFR + 1.620%)<sup>(a)</sup> | &nbsp;&nbsp; 456 | 463275 |
| 5.49%, 05/14/30, (1-day SOFR + 1.198%)<sup>(a)</sup> | &nbsp;&nbsp; 415 | 423497 |
| 5.58%, 06/12/29, (1-day SOFR + 1.841%)<sup>(a)</sup> | &nbsp;&nbsp; 807 | 824539 |
| 6.62%, 10/20/27, <br> (1-day SOFR Index + 1.730%)<sup>(a)</sup><br>| &nbsp;&nbsp; 405 | 419388 |
| QIB Sukuk Ltd., 5.58%, 11/22/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 414567 |
| QIIB Senior Oryx Ltd., 5.25%, 01/24/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204735 |
| QNB Finance Ltd. |  |  |
| 1.38%, 01/26/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 382563 |
| 2.75%, 02/12/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191257 |
| 4.88%, 01/30/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200318 |
| 6.06%, 04/02/29, (1-day SOFR + 1.200%)<sup>(a)</sup> | &nbsp;&nbsp; 400 | 400579 |
| Regions Financial Corp. |  |  |
| 1.80%, 08/12/28 | &nbsp;&nbsp; 35 | 31162 |
| 5.72%, 06/06/30, (1-day SOFR +1.490%)<sup>(a)</sup> | &nbsp;&nbsp; 155 | 157230 |
| Riyad Tier 1 Sukuk Ltd., 4.00%, <br> (5-year CMT + 2.170%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 189765 |
| Rizal Commercial Banking Corp., 5.50%, <br> 01/18/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 203435 |
| Royal Bank of Canada |  |  |
| 0.88%, 01/20/26 | &nbsp;&nbsp; 380 | 363551 |
| 1.15%, 07/14/26 | &nbsp;&nbsp; 350 | 330974 |
| 1.20%, 04/27/26 | &nbsp;&nbsp; 628 | 597918 |
| 1.40%, 11/02/26 | &nbsp;&nbsp; 315 | 296365 |
| 2.05%, 01/21/27<sup>(c)</sup> | &nbsp;&nbsp; 250 | 237189 |
| 3.63%, 05/04/27 | &nbsp;&nbsp; 450 | 440089 |
| 4.24%, 08/03/27 | &nbsp;&nbsp; 455 | 451635 |
| 4.51%, 10/18/27, <br> (1-day SOFR Index + 0.720%)<sup>(a)</sup><br>| &nbsp;&nbsp; 165 | 164503 |
| 4.52%, 10/18/28, <br> (1-day SOFR Index + 0.860%)<sup>(a)</sup><br>| &nbsp;&nbsp; 175 | 174052 |
| 4.65%, 01/27/26 | &nbsp;&nbsp; 472 | 469883 |
| 4.65%, 10/18/30, <br> (1-day SOFR Index + 1.080%)<sup>(a)</sup><br>| &nbsp;&nbsp; 450 | 445519 |
| 4.88%, 01/12/26 | &nbsp;&nbsp; 495 | 496932 |
| 4.88%, 01/19/27 | &nbsp;&nbsp; 200 | 201647 |
| 4.90%, 01/12/28 | &nbsp;&nbsp; 449 | 451622 |
| 4.95%, 02/01/29 | &nbsp;&nbsp; 200 | 202025 |
| 4.97%, 08/02/30, (1-day SOFR +1.000%)<sup>(a)</sup> | &nbsp;&nbsp; 325 | 325835 |
| 5.07%, 07/23/27, (1-day SOFR +0.790%)<sup>(a)</sup> | &nbsp;&nbsp; 325 | 327014 |
| 5.20%, 07/20/26 | &nbsp;&nbsp; 295 | 298462 |
| 5.20%, 08/01/28 | &nbsp;&nbsp; 285 | 289705 |
| 6.00%, 11/01/27 | &nbsp;&nbsp; 468 | 486231 |
| Santander Holdings USA Inc. |  |  |
| 2.49%, 01/06/28, (1-day SOFR + 1.249%)<sup>(a)</sup> | &nbsp;&nbsp; 346 | 326184 |
| 3.24%, 10/05/26 | &nbsp;&nbsp; 300 | 289835 |
| 4.40%, 07/13/27 | &nbsp;&nbsp; 395 | 389235 |
| 5.35%, 09/06/30, (1-day SOFR + 1.940%)<sup>(a)</sup> | &nbsp;&nbsp; 300 | 296961 |
| 6.12%, 05/31/27, (1-day SOFR +1.232%)<sup>(a)</sup> | &nbsp;&nbsp; 145 | 147156 |
| 6.17%, 01/09/30, (1-day SOFR + 2.500%)<sup>(a)</sup> | &nbsp;&nbsp; 140 | 143311 |
| 6.50%, 03/09/29, (1-day SOFR + 2.356%)<sup>(a)</sup> | &nbsp;&nbsp; 375 | 386652 |
| 6.57%, 06/12/29, (1-day SOFR + 2.700%)<sup>(a)</sup> | &nbsp;&nbsp; 220 | 228224 |
| Santander U.K. Group Holdings PLC |  |  |
| 1.67%, 06/14/27, (1-day SOFR + 0.989%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 427 | 404302 |
| 2.47%, 01/11/28, (1-day SOFR + 1.220%)<sup>(a)</sup> | &nbsp;&nbsp; 545 | 513778 |
| 3.82%, 11/03/28, (3-mo. LIBOR US + 1.400%)<sup>(a)</sup> | &nbsp;&nbsp; 235 | 226437 |
| 4.86%, 09/11/30, <br> (1-day SOFR Index + 1.554%)<sup>(a)</sup><br>| &nbsp;&nbsp; 240 | 236326 |
| 6.53%, 01/10/29, (1-day SOFR + 2.600%)<sup>(a)</sup> | &nbsp;&nbsp; 480 | 498874 |
| Security Bank Corp., 5.50%, 05/14/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204618 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Shanghai Commercial Bank Ltd., 6.38%, 02/28/33, <br> (5-year CMT + 2.400%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; $250 | $254989 |
| Shinhan Bank Co. Ltd. |  |  |
| 1.38%, 10/21/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 187577 |
| 3.75%, 09/20/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192718 |
| 3.88%, 03/24/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196512 |
| 4.00%, 04/23/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189875 |
| 4.50%, 03/26/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195367 |
| Shinhan Financial Group Co. Ltd. |  |  |
| 1.35%, 01/10/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191491 |
| 2.88%, (5-year CMT + 2.064%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 192084 |
| Skandinaviska Enskilda Banken AB |  |  |
| 5.13%, 03/05/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 212490 |
| 5.38%, 03/05/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 203220 |
| SNB Funding Ltd., 6.04%, 07/11/29, <br> (1-day SOFR + 1.200%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 199405 |
| SNB Sukuk Ltd. |  |  |
| 2.34%, 01/19/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 380606 |
| 5.13%, 02/27/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202641 |
| Societe Generale SA |  |  |
| 1.49%, 12/14/26, (1-year CMT + 1.100%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 645 | 617577 |
| 1.79%, 06/09/27, (1-year CMT + 1.000%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 480 | 453988 |
| 2.80%, 01/19/28, (1-year CMT + 1.300%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 425 | 402503 |
| 4.00%, 01/12/27<sup>(b)</sup> | &nbsp;&nbsp; 365 | 355411 |
| 4.25%, 08/19/26<sup>(b)</sup> | &nbsp;&nbsp; 225 | 220161 |
| 4.68%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 395 | 394426 |
| 4.75%, 11/24/25<sup>(b)</sup> | &nbsp;&nbsp; 125 | 123973 |
| 4.75%, 09/14/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196958 |
| 5.52%, 01/19/28, (1-year CMT + 1.500%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 200683 |
| 5.63%, 01/19/30, (1-year CMT + 1.750%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 201588 |
| 6.45%, 01/12/27, (1-year CMT + 2.300%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 404911 |
| 6.45%, 01/10/29, (1-year CMT + 2.550%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 480 | 494606 |
| Standard Chartered PLC |  |  |
| 1.46%, 01/14/27, (1-year CMT + 1.000%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 615 | 588202 |
| 2.61%, 01/12/28, (1-year CMT + 1.180%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 510 | 484061 |
| 4.05%, 04/12/26<sup>(b)</sup> | &nbsp;&nbsp; 205 | 202652 |
| 4.31%, 05/21/30, <br> (3-mo. LIBOR US + 1.910%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 200 | 193024 |
| 5.01%, 10/15/30, (1-year CMT + 1.150%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 450 | 444443 |
| 5.69%, 05/14/28, (1-year CMT + 1.050%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 295 | 298868 |
| 6.17%, 01/09/27, (1-year CMT + 2.050%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 505 | 510934 |
| 6.19%, 07/06/27, (1-year CMT + 1.850%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 525 | 534446 |
| 6.30%, 01/09/29, (1-year CMT + 2.450%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 630 | 651017 |
| 6.75%, 02/08/28, (1-year CMT + 1.850%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 207033 |
| 7.02%, 02/08/30, (1-year CMT + 2.200%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 213450 |
| 7.77%, 11/16/28, (1-year CMT + 3.450%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 230 | 246961 |
| State Bank of India/London |  |  |
| 1.80%, 07/13/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 379704 |
| 5.00%, 01/17/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200427 |
| State Street Corp. |  |  |
| 1.68%, 11/18/27, (1-day SOFR + 0.560%)<sup>(a)</sup> | &nbsp;&nbsp; 320 | 301180 |
| 2.20%, 02/07/28, (1-day SOFR + 0.730%)<sup>(a)</sup> | &nbsp;&nbsp; 235 | 222957 |
| 2.65%, 05/19/26 | &nbsp;&nbsp; 250 | 243291 |
| 4.14%, 12/03/29, <br> (3-mo. CME Term SOFR + 1.292%)<sup>(a)</sup><br>| &nbsp;&nbsp; 75 | 73184 |
| 4.33%, 10/22/27 | &nbsp;&nbsp; 250 | 248615 |
| 4.53%, 02/20/29, (1-day SOFR +1.018%)<sup>(a)</sup> | &nbsp;&nbsp; 265 | 262997 |
| 4.99%, 03/18/27 | &nbsp;&nbsp; 295 | 297751 |
| 5.27%, 08/03/26 | &nbsp;&nbsp; 360 | 364467 |
| 5.68%, 11/21/29, (1-day SOFR + 1.484%)<sup>(a)</sup> | &nbsp;&nbsp; 335 | 345468 |
| 5.75%, 11/04/26, (1-day SOFR + 1.353%)<sup>(a)</sup> | &nbsp;&nbsp; 170 | 171590 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.82%, 11/04/28, (1-day SOFR + 1.715%)<sup>(a)</sup> | &nbsp;&nbsp; $230 | $237240 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 0.95%, 01/12/26 | &nbsp;&nbsp; 255 | 243772 |
| 1.40%, 09/17/26 | &nbsp;&nbsp; 790 | 744600 |
| 1.90%, 09/17/28 | &nbsp;&nbsp; 740 | 664633 |
| 2.17%, 01/14/27 | &nbsp;&nbsp; 330 | 312642 |
| 2.47%, 01/14/29 | &nbsp;&nbsp; 200 | 182343 |
| 2.63%, 07/14/26 | &nbsp;&nbsp; 825 | 797572 |
| 2.72%, 09/27/29 | &nbsp;&nbsp; 200 | 181176 |
| 3.01%, 10/19/26 | &nbsp;&nbsp; 200 | 193946 |
| 3.04%, 07/16/29 | &nbsp;&nbsp; 490 | 452214 |
| 3.20%, 09/17/29<sup>(c)</sup> | &nbsp;&nbsp; 100 | 92280 |
| 3.35%, 10/18/27 | &nbsp;&nbsp; 112 | 107906 |
| 3.36%, 07/12/27 | &nbsp;&nbsp; 810 | 785206 |
| 3.45%, 01/11/27 | &nbsp;&nbsp; 245 | 238941 |
| 3.54%, 01/17/28 | &nbsp;&nbsp; 40 | 38545 |
| 3.78%, 03/09/26 | &nbsp;&nbsp; 645 | 637493 |
| 3.94%, 07/19/28 | &nbsp;&nbsp; 200 | 194440 |
| 4.31%, 10/16/28 | &nbsp;&nbsp; 275 | 271326 |
| 5.32%, 07/09/29 | &nbsp;&nbsp; 200 | 204080 |
| 5.46%, 01/13/26 | &nbsp;&nbsp; 470 | 474152 |
| 5.52%, 01/13/28 | &nbsp;&nbsp; 600 | 612770 |
| 5.72%, 09/14/28 | &nbsp;&nbsp; 405 | 417541 |
| 5.80%, 07/13/28 | &nbsp;&nbsp; 200 | 206531 |
| 5.88%, 07/13/26 | &nbsp;&nbsp; 200 | 203842 |
| Sumitomo Mitsui Trust Bank Ltd. |  |  |
| 1.35%, 09/16/26<sup>(b)</sup> | &nbsp;&nbsp; 275 | 258584 |
| 1.55%, 03/25/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 191300 |
| 2.80%, 03/10/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 200938 |
| 4.45%, 09/10/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 198479 |
| 4.50%, 09/10/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 221489 |
| 4.95%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 230 | 231188 |
| 5.20%, 03/07/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 212277 |
| 5.20%, 03/07/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202635 |
| 5.50%, 03/09/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204039 |
| 5.55%, 09/14/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204899 |
| 5.65%, 03/09/26<sup>(b)</sup> | &nbsp;&nbsp; 340 | 343703 |
| 5.65%, 09/14/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202959 |
| Svenska Handelsbanken AB |  |  |
| 1.42%, 06/11/27, (1-year CMT + 0.630%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 310 | 293481 |
| 3.95%, 06/10/27<sup>(b)</sup> | &nbsp;&nbsp; 265 | 261623 |
| 5.13%, 05/28/27<sup>(b)</sup> | &nbsp;&nbsp; 260 | 263753 |
| 5.50%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 415 | 422528 |
| Swedbank AB |  |  |
| 1.54%, 11/16/26<sup>(b)</sup> | &nbsp;&nbsp; 410 | 386539 |
| 5.34%, 09/20/27<sup>(b)</sup> | &nbsp;&nbsp; 255 | 258183 |
| 5.41%, 03/14/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202866 |
| 5.47%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202806 |
| 6.14%, 09/12/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204602 |
| Synchrony Bank, 5.63%, 08/23/27 | &nbsp;&nbsp; 335 | 337550 |
| Synovus Bank, 5.63%, 02/15/28 | &nbsp;&nbsp; 250 | 248603 |
| TC Ziraat Bankasi AS |  |  |
| 5.38%, 03/02/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199202 |
| 8.00%, 01/16/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 208502 |
| 8.99%, 08/02/34, (5-year CMT + 4.327%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 207769 |
| 9.50%, 08/01/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 212745 |
| Texas Capital Bancshares Inc., 4.00%, 05/06/31, <br> (5-year CMT + 3.150%)<sup>(a)</sup><br>| &nbsp;&nbsp; 135 | 127458 |
| Toronto-Dominion Bank (The) |  |  |
| 0.75%, 01/06/26 | &nbsp;&nbsp; 520 | 496226 |
| 1.20%, 06/03/26 | &nbsp;&nbsp; 490 | 463877 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 1.25%, 09/10/26 | &nbsp;&nbsp; $600 | $564338 |
| 1.95%, 01/12/27 | &nbsp;&nbsp; 230 | 217152 |
| 2.80%, 03/10/27 | &nbsp;&nbsp; 464 | 445062 |
| 3.63%, 09/15/31, <br> (5-year USD Swap + 2.205%)<sup>(a)</sup><br>| &nbsp;&nbsp; 175 | 169793 |
| 4.11%, 06/08/27 | &nbsp;&nbsp; 490 | 483248 |
| 4.69%, 09/15/27 | &nbsp;&nbsp; 595 | 594031 |
| 4.98%, 04/05/27 | &nbsp;&nbsp; 250 | 251768 |
| 4.99%, 04/05/29 | &nbsp;&nbsp; 255 | 256521 |
| 5.15%, 09/10/34, (5-year CMT + 1.500%)<sup>(a)</sup> | &nbsp;&nbsp; 250 | 245695 |
| 5.16%, 01/10/28 | &nbsp;&nbsp; 355 | 358674 |
| 5.26%, 12/11/26 | &nbsp;&nbsp; 100 | 101284 |
| 5.52%, 07/17/28 | &nbsp;&nbsp; 315 | 322252 |
| 5.53%, 07/17/26 | &nbsp;&nbsp; 635 | 643511 |
| Truist Bank, 4.05%, 11/03/25 | &nbsp;&nbsp; 310 | 308164 |
| Truist Financial Corp. |  |  |
| 1.27%, 03/02/27, (1-day SOFR + 0.609%)<sup>(a)</sup> | &nbsp;&nbsp; 540 | 514864 |
| 1.89%, 06/07/29, (1-day SOFR + 0.862%)<sup>(a)</sup> | &nbsp;&nbsp; 325 | 292245 |
| 3.88%, 03/19/29 | &nbsp;&nbsp; 115 | 109570 |
| 4.12%, 06/06/28, (1-day SOFR + 1.368%)<sup>(a)</sup> | &nbsp;&nbsp; 350 | 343993 |
| 4.87%, 01/26/29, (1-day SOFR + 1.435%)<sup>(a)</sup> | &nbsp;&nbsp; 675 | 672660 |
| 5.44%, 01/24/30, (1-day SOFR + 1.620%)<sup>(a)</sup> | &nbsp;&nbsp; 470 | 475826 |
| 6.05%, 06/08/27, (1-day SOFR + 2.050%)<sup>(a)</sup> | &nbsp;&nbsp; 255 | 259752 |
| 7.16%, 10/30/29, (1-day SOFR + 2.446%)<sup>(a)</sup> | &nbsp;&nbsp; 470 | 503891 |
| Turkiye Garanti Bankasi AS, 8.38%, 02/28/34, <br> (5-year CMT + 4.090%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 204050 |
| Turkiye Is Bankasi AS, 7.75%, 06/12/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206773 |
| Turkiye Vakiflar Bankasi TAO |  |  |
| 6.50%, 01/08/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201756 |
| 8.99%, 10/05/34, (5-year CMT + 4.669%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 206617 |
| 9.00%, 10/12/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 215055 |
| U.S. Bancorp |  |  |
| 2.22%, 01/27/28, (1-day SOFR + 0.730%)<sup>(a)</sup> | &nbsp;&nbsp; 555 | 524814 |
| 3.00%, 07/30/29 | &nbsp;&nbsp; 305 | 279641 |
| 3.10%, 04/27/26 | &nbsp;&nbsp; 413 | 402869 |
| 3.90%, 04/26/28 | &nbsp;&nbsp; 80 | 77671 |
| 3.95%, 11/17/25 | &nbsp;&nbsp; 390 | 387356 |
| 4.55%, 07/22/28, (1-day SOFR + 1.660%)<sup>(a)</sup> | &nbsp;&nbsp; 735 | 730375 |
| 4.65%, 02/01/29, (1-day SOFR + 1.230%)<sup>(a)</sup> | &nbsp;&nbsp; 465 | 462210 |
| 5.10%, 07/23/30, (1-day SOFR +1.250%)<sup>(a)</sup> | &nbsp;&nbsp; 415 | 416467 |
| 5.38%, 01/23/30, (1-day SOFR + 1.560%)<sup>(a)</sup> | &nbsp;&nbsp; 415 | 421614 |
| 5.78%, 06/12/29, (1-day SOFR + 2.020%)<sup>(a)</sup> | &nbsp;&nbsp; 490 | 503965 |
| 6.79%, 10/26/27, (1-day SOFR + 1.880%)<sup>(a)</sup> | &nbsp;&nbsp; 135 | 140182 |
| Series V, 2.38%, 07/22/26 | &nbsp;&nbsp; 120 | 115823 |
| Series X, 3.15%, 04/27/27 | &nbsp;&nbsp; 85 | 82303 |
| U.S. Bank NA/Cincinnati OH, 4.51%, 10/22/27, <br> (1-day SOFR + 0.690%)<sup>(a)</sup><br>| &nbsp;&nbsp; 350 | 348789 |
| UBS AG/London |  |  |
| 1.25%, 06/01/26 | &nbsp;&nbsp; 305 | 289575 |
| 5.65%, 09/11/28 | &nbsp;&nbsp; 250 | 257610 |
| UBS AG/Stamford CT |  |  |
| 1.25%, 08/07/26 | &nbsp;&nbsp; 592 | 558788 |
| 5.00%, 07/09/27 | &nbsp;&nbsp; 420 | 423530 |
| 7.50%, 02/15/28 | &nbsp;&nbsp; 925 | 996409 |
| UBS Group AG |  |  |
| 1.31%, 02/02/27, <br> (1-day SOFR Index + 0.980%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 680 | 649181 |
| 1.36%, 01/30/27, (1-year CMT + 1.080%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 385 | 367874 |
| 1.49%, 08/10/27, (1-year CMT + 0.850%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 640 | 601835 |
| 3.13%, 08/13/30, <br> (3-mo. LIBOR US + 1.468%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 420 | 385316 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.87%, 01/12/29, <br> (3-mo. LIBOR US + 1.410%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $670 | $647399 |
| 4.13%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 595 | 588604 |
| 4.25%, 03/23/28<sup>(b)</sup> | &nbsp;&nbsp; 505 | 494519 |
| 4.28%, 01/09/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 765 | 748426 |
| 4.55%, 04/17/26 | &nbsp;&nbsp; 725 | 722172 |
| 4.70%, 08/05/27, (1-year CMT + 2.050%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 545 | 542503 |
| 4.75%, 05/12/28, (1-year CMT + 1.750%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 435 | 432763 |
| 5.43%, 02/08/30, (1-year CMT + 1.520%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 520 | 527429 |
| 5.62%, 09/13/30, <br> (1-year USD ICE Swap + 1.340%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 120 | 122569 |
| 5.71%, 01/12/27, (1-year CMT + 1.550%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 600 | 604481 |
| 6.25%, 09/22/29, (1-year CMT + 1.800%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 510 | 532367 |
| 6.33%, 12/22/27, (1-year CMT + 1.600%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 411551 |
| 6.44%, 08/11/28, (1-day SOFR + 3.700%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 545 | 565832 |
| UniCredit SpA |  |  |
| 1.98%, 06/03/27, (1-year CMT + 1.200%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 290 | 276316 |
| 4.63%, 04/12/27<sup>(b)</sup> | &nbsp;&nbsp; 15 | 14827 |
| 5.86%, 06/19/32, <br> (5-year USD ICE Swap + 3.703%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 330 | 328584 |
| 7.30%, 04/02/34, <br> (5-year USD ICE Swap + 4.914%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 350 | 366019 |
| Union Bank of the Philippines, 2.13%, 10/22/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194037 |
| United Overseas Bank Ltd. |  |  |
| 1.25%, 04/14/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 190551 |
| 1.75%, 03/16/31, (5-year CMT + 1.520%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 191127 |
| 2.00%, 10/14/31, (5-year CMT + 1.230%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 188331 |
| Valley National Bancorp., 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.36%)<sup>(a)</sup><br>| &nbsp;&nbsp; 95 | 80716 |
| Wachovia Corp., 7.57%, 08/01/26<sup>(g)</sup> | &nbsp;&nbsp; 125 | 130458 |
| Wells Fargo & Co. |  |  |
| 2.39%, 06/02/28, (1-day SOFR + 2.100%)<sup>(a)</sup> | &nbsp;&nbsp; 675 | 635094 |
| 2.88%, 10/30/30, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(a)</sup><br>| &nbsp;&nbsp; 1000 | 906673 |
| 3.00%, 04/22/26 | &nbsp;&nbsp; 1260 | 1230157 |
| 3.00%, 10/23/26 | &nbsp;&nbsp; 1130 | 1094394 |
| 3.20%, 06/17/27, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(a)</sup><br>| &nbsp;&nbsp; 905 | 882474 |
| 3.53%, 03/24/28, (1-day SOFR + 1.510%)<sup>(a)</sup> | &nbsp;&nbsp; 1225 | 1188576 |
| 3.58%, 05/22/28, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(a)</sup><br>| &nbsp;&nbsp; 850 | 823832 |
| 4.10%, 06/03/26 | &nbsp;&nbsp; 737 | 728912 |
| 4.15%, 01/24/29 | &nbsp;&nbsp; 725 | 707010 |
| 4.30%, 07/22/27 | &nbsp;&nbsp; 1020 | 1006095 |
| 4.81%, 07/25/28, (1-day SOFR + 1.980%)<sup>(a)</sup> | &nbsp;&nbsp; 814 | 812830 |
| 5.20%, 01/23/30, (1-day SOFR + 1.500%)<sup>(a)</sup> | &nbsp;&nbsp; 785 | 793044 |
| 5.57%, 07/25/29, (1-day SOFR + 1.740%)<sup>(a)</sup> | &nbsp;&nbsp; 1360 | 1388442 |
| 5.71%, 04/22/28, (1-day SOFR +1.070%)<sup>(a)</sup> | &nbsp;&nbsp; 945 | 963298 |
| 6.30%, 10/23/29, (1-day SOFR + 1.790%)<sup>(a)</sup> | &nbsp;&nbsp; 790 | 827949 |
| Wells Fargo Bank NA |  |  |
| 4.81%, 01/15/26 | &nbsp;&nbsp; 500 | 501150 |
| 5.25%, 12/11/26 | &nbsp;&nbsp; 500 | 507501 |
| 5.45%, 08/07/26 | &nbsp;&nbsp; 670 | 680021 |
| Western Alliance Bancorp, 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.250%)<sup>(a)</sup><br>| &nbsp;&nbsp; 180 | 166779 |
| Westpac Banking Corp. |  |  |
| 1.15%, 06/03/26 | &nbsp;&nbsp; 530 | 503438 |
| 1.95%, 11/20/28 | &nbsp;&nbsp; 400 | 362105 |
| 2.70%, 08/19/26 | &nbsp;&nbsp; 290 | 281500 |
| 2.85%, 05/13/26 | &nbsp;&nbsp; 460 | 449190 |
| 3.35%, 03/08/27 | &nbsp;&nbsp; 390 | 380542 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.40%, 01/25/28 | &nbsp;&nbsp; $385 | $371545 |
| 4.04%, 08/26/27 | &nbsp;&nbsp; 360 | 356149 |
| 4.11%, 07/24/34, (5-year CMT + 2.000%)<sup>(a)</sup> | &nbsp;&nbsp; 250 | 236586 |
| 4.32%, 11/23/31, <br> (5-year USD ICE Swap + 2.236%)<sup>(a)</sup><br>| &nbsp;&nbsp; 495 | 487182 |
| 5.05%, 04/16/29 | &nbsp;&nbsp; 340 | 346030 |
| 5.20%, 04/16/26 | &nbsp;&nbsp; 355 | 358589 |
| 5.46%, 11/18/27 | &nbsp;&nbsp; 387 | 397352 |
| 5.51%, 11/17/25 | &nbsp;&nbsp; 370 | 373945 |
| 5.54%, 11/17/28 | &nbsp;&nbsp; 325 | 336950 |
| Westpac New Zealand Ltd. |  |  |
| 4.90%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 205274 |
| 5.13%, 02/26/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201934 |
| 5.20%, 02/28/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202637 |
| Woori Bank |  |  |
| 0.75%, 02/01/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190117 |
| 2.00%, 01/20/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188861 |
| 4.75%, 01/24/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199780 |
| 4.88%, 01/26/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200370 |
| 5.13%, 08/06/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198695 |
| 6.38%, (5-year CMT + 2.277%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 205023 |
| Yapi ve Kredi Bankasi A/S |  |  |
| 7.88%, 01/22/31, (5-year CMT + 7.415%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 202221 |
| 9.25%, 10/16/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 217470 |
| 9.25%, 01/17/34, (5-year CMT + 5.278%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 200 | 210264 |
|  |  | 380913963 |
| **Beverages — 0.3%** | **Beverages — 0.3%** | **Beverages — 0.3%** |
| Anadolu Efes Biracilik Ve Malt Sanayii A/S, 3.38%, <br> 06/29/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 176524 |
| Anheuser-Busch InBev Worldwide Inc. |  |  |
| 4.00%, 04/13/28<sup>(c)</sup> | &nbsp;&nbsp; 535 | 526350 |
| 4.75%, 01/23/29 | &nbsp;&nbsp; 1250 | 1255811 |
| Bacardi Ltd./Bacardi-Martini BV, 5.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 145 | 145799 |
| Central American Bottling Corp./CBC Bottling <br> Holdco SL/Beliv Holdco SL, 5.25%, 04/27/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192029 |
| Coca-Cola Co. (The) |  |  |
| 1.00%, 03/15/28 | &nbsp;&nbsp; 294 | 264310 |
| 1.45%, 06/01/27 | &nbsp;&nbsp; 565 | 527583 |
| 1.50%, 03/05/28<sup>(c)</sup> | &nbsp;&nbsp; 30 | 27320 |
| 2.13%, 09/06/29 | &nbsp;&nbsp; 300 | 269914 |
| 2.90%, 05/25/27 | &nbsp;&nbsp; 100 | 96684 |
| 3.38%, 03/25/27 | &nbsp;&nbsp; 365 | 357522 |
| Coca-Cola Consolidated Inc. |  |  |
| 3.80%, 11/25/25 | &nbsp;&nbsp; 147 | 145588 |
| 5.25%, 06/01/29 | &nbsp;&nbsp; 155 | 157473 |
| Coca-Cola Europacific Partners PLC, 1.50%, <br> 01/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 186535 |
| Coca-Cola Icecek A/S, 4.50%, 01/20/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192146 |
| Constellation Brands Inc. |  |  |
| 3.15%, 08/01/29 | &nbsp;&nbsp; 250 | 231674 |
| 3.50%, 05/09/27 | &nbsp;&nbsp; 245 | 237855 |
| 3.60%, 02/15/28 | &nbsp;&nbsp; 330 | 317955 |
| 3.70%, 12/06/26<sup>(c)</sup> | &nbsp;&nbsp; 55 | 53900 |
| 4.35%, 05/09/27 | &nbsp;&nbsp; 289 | 286312 |
| 4.40%, 11/15/25 | &nbsp;&nbsp; 165 | 164203 |
| 4.65%, 11/15/28 | &nbsp;&nbsp; 100 | 99160 |
| 4.75%, 12/01/25 | &nbsp;&nbsp; 30 | 29948 |
| 4.80%, 01/15/29 | &nbsp;&nbsp; 125 | 124786 |
| 5.00%, 02/02/26 | &nbsp;&nbsp; 120 | 119945 |
| Diageo Capital PLC |  |  |
| 2.38%, 10/24/29 | &nbsp;&nbsp; 300 | 270039 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| 5.30%, 10/24/27 | &nbsp;&nbsp; $350 | $358478 |
| 5.38%, 10/05/26 | &nbsp;&nbsp; 210 | 213212 |
| Heineken NV, 3.50%, 01/29/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 345 | 333923 |
| JDE Peet's NV, 1.38%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 330 | 305656 |
| Keurig Dr Pepper Inc. |  |  |
| 2.55%, 09/15/26 | &nbsp;&nbsp; 170 | 163577 |
| 3.40%, 11/15/25 | &nbsp;&nbsp; 25 | 24680 |
| 3.43%, 06/15/27 | &nbsp;&nbsp; 15 | 14546 |
| 3.95%, 04/15/29 | &nbsp;&nbsp; 250 | 241733 |
| 4.60%, 05/25/28 | &nbsp;&nbsp; 495 | 492462 |
| 5.05%, 03/15/29 | &nbsp;&nbsp; 140 | 141361 |
| 5.10%, 03/15/27 | &nbsp;&nbsp; 125 | 126317 |
| Molson Coors Beverage Co., 3.00%, 07/15/26 | &nbsp;&nbsp; 621 | 604350 |
| PepsiCo Inc. |  |  |
| 2.38%, 10/06/26 | &nbsp;&nbsp; 70 | 67505 |
| 2.63%, 03/19/27 | &nbsp;&nbsp; 25 | 24011 |
| 2.63%, 07/29/29 | &nbsp;&nbsp; 300 | 275817 |
| 2.85%, 02/24/26 | &nbsp;&nbsp; 397 | 389152 |
| 3.00%, 10/15/27 | &nbsp;&nbsp; 415 | 400367 |
| 3.60%, 02/18/28 | &nbsp;&nbsp; 315 | 307235 |
| 4.45%, 05/15/28<sup>(c)</sup> | &nbsp;&nbsp; 245 | 245948 |
| 4.50%, 07/17/29<sup>(c)</sup> | &nbsp;&nbsp; 250 | 251047 |
| 4.55%, 02/13/26 | &nbsp;&nbsp; 290 | 290611 |
| 5.13%, 11/10/26 | &nbsp;&nbsp; 245 | 248684 |
| 5.25%, 11/10/25 | &nbsp;&nbsp; 235 | 236924 |
| 7.00%, 03/01/29 | &nbsp;&nbsp; 145 | 159294 |
| Pepsico Singapore Financing I Pte Ltd. |  |  |
| 4.55%, 02/16/29 | &nbsp;&nbsp; 125 | 124821 |
| 4.65%, 02/16/27 | &nbsp;&nbsp; 165 | 165945 |
| Pernod Ricard International Finance LLC, 1.25%, <br> 04/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 133357 |
| Pernod Ricard SA, 3.25%, 06/08/26<sup>(b)</sup> | &nbsp;&nbsp; 150 | 146725 |
| Primo Water Holdings Inc., 4.38%, 04/30/29<sup>(b)</sup> | &nbsp;&nbsp; 255 | 240004 |
| Suntory Holdings Ltd., 5.12%, 06/11/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 212362 |
| Triton Water Holdings Inc., 6.25%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 235 | 232146 |
|  |  | 13629615 |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |
| Amgen Inc. |  |  |
| 1.65%, 08/15/28 | &nbsp;&nbsp; 460 | 411779 |
| 2.20%, 02/21/27 | &nbsp;&nbsp; 615 | 583863 |
| 2.60%, 08/19/26 | &nbsp;&nbsp; 507 | 489536 |
| 3.00%, 02/22/29 | &nbsp;&nbsp; 515 | 481215 |
| 3.20%, 11/02/27 | &nbsp;&nbsp; 165 | 158693 |
| 4.05%, 08/18/29 | &nbsp;&nbsp; 350 | 339211 |
| 5.15%, 03/02/28 | &nbsp;&nbsp; 1145 | 1160883 |
| 5.51%, 03/02/26 | &nbsp;&nbsp; 400 | 399946 |
| Bio-Rad Laboratories Inc., 3.30%, 03/15/27 | &nbsp;&nbsp; 205 | 198633 |
| CSL Finance PLC, 3.85%, 04/27/27<sup>(b)</sup> | &nbsp;&nbsp; 195 | 190672 |
| Emergent BioSolutions Inc., 3.88%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 100571 |
| Gilead Sciences Inc. |  |  |
| 1.20%, 10/01/27 | &nbsp;&nbsp; 55 | 50093 |
| 2.95%, 03/01/27 | &nbsp;&nbsp; 435 | 419805 |
| 3.65%, 03/01/26 | &nbsp;&nbsp; 1033 | 1019866 |
| Illumina Inc. |  |  |
| 4.65%, 09/09/26 | &nbsp;&nbsp; 100 | 99714 |
| 5.75%, 12/13/27 | &nbsp;&nbsp; 105 | 107771 |
| 5.80%, 12/12/25 | &nbsp;&nbsp; 5 | 5045 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| Royalty Pharma PLC |  |  |
| 1.75%, 09/02/27 | &nbsp;&nbsp; $212 | $195326 |
| 5.15%, 09/02/29 | &nbsp;&nbsp; 100 | 100625 |
|  |  | 6513247 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| ACProducts Holdings Inc., 6.38%, 05/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 165 | 104339 |
| AmeriTex HoldCo Intermediate LLC, 10.25%, <br> 10/15/28<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 175 | 184203 |
| Camelot Return Merger Sub Inc., 8.75%, <br> 08/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 201095 |
| Carrier Global Corp., 2.49%, 02/15/27 | &nbsp;&nbsp; 370 | 353776 |
| Cemex SAB de CV, 9.13%, <br> (5-year CMT + 5.157%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 212957 |
| Cemex SAB De CV, 5.13%, <br> (5-year CMT + 4.534%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 600 | 583427 |
| Cornerstone Building Brands Inc. |  |  |
| 6.13%, 01/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 115 | 102726 |
| 9.50%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 154797 |
| CP Atlas Buyer Inc., 7.00%, 12/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 180 | 164749 |
| CRH America Finance Inc. |  |  |
| 3.40%, 05/09/27<sup>(b)</sup> | &nbsp;&nbsp; 205 | 198576 |
| 3.95%, 04/04/28<sup>(b)</sup> | &nbsp;&nbsp; 225 | 218832 |
| CRH SMW Finance DAC, 5.20%, 05/21/29 | &nbsp;&nbsp; 200 | 202674 |
| Eco Material Technologies Inc., 7.88%, 01/31/27<sup>(b)</sup> | &nbsp;&nbsp; 185 | 186226 |
| Fortune Brands Innovations Inc., 3.25%, 09/15/29 | &nbsp;&nbsp; 150 | 139160 |
| Griffon Corp., 5.75%, 03/01/28 | &nbsp;&nbsp; 295 | 289648 |
| Holcim Finance U.S. LLC, 3.50%, 09/22/26<sup>(b)</sup> | &nbsp;&nbsp; 55 | 53684 |
| Huaxin Cement International Finance Co. Ltd., <br> 2.25%, 11/19/25<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192669 |
| James Hardie International Finance DAC, 5.00%, <br> 01/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 70 | 67956 |
| Jeld-Wen Inc., 4.88%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 120 | 116146 |
| Johnson Controls International PLC, 3.90%, <br> 02/14/26<br>| &nbsp;&nbsp; 300 | 296551 |
| Johnson Controls International PLC/Tyco Fire & <br> Security Finance SCA, 5.50%, 04/19/29<br>| &nbsp;&nbsp; 195 | 200359 |
| Lennox International Inc. |  |  |
| 1.70%, 08/01/27 | &nbsp;&nbsp; 195 | 179836 |
| 5.50%, 09/15/28 | &nbsp;&nbsp; 195 | 199746 |
| Limak Cimento Sanayi ve Ticaret AS, 9.75%, <br> 07/25/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 194501 |
| Louisiana-Pacific Corp., 3.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 116973 |
| Martin Marietta Materials Inc. |  |  |
| 3.45%, 06/01/27 | &nbsp;&nbsp; 10 | 9697 |
| 3.50%, 12/15/27 | &nbsp;&nbsp; 180 | 174026 |
| Masco Corp. |  |  |
| 1.50%, 02/15/28 | &nbsp;&nbsp; 200 | 180382 |
| 3.50%, 11/15/27 | &nbsp;&nbsp; 50 | 48132 |
| Mohawk Industries Inc., 5.85%, 09/18/28 | &nbsp;&nbsp; 185 | 190825 |
| New Enterprise Stone & Lime Co. Inc. |  |  |
| 5.25%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 193687 |
| 9.75%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 101548 |
| Owens Corning |  |  |
| 3.40%, 08/15/26 | &nbsp;&nbsp; 185 | 180912 |
| 3.95%, 08/15/29 | &nbsp;&nbsp; 100 | 95869 |
| 5.50%, 06/15/27 | &nbsp;&nbsp; 70 | 71366 |
| Sisecam U.K. PLC, 8.25%, 05/02/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204999 |
| Smyrna Ready Mix Concrete LLC, 6.00%, <br> 11/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 325 | 322520 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| Standard Industries Inc./New York |  |  |
| 4.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; $330 | $318236 |
| 5.00%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 295 | 288984 |
| Summit Materials LLC/Summit Materials <br> Finance Corp.<br>|  |  |
| 5.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 223054 |
| 6.50%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 105 | 104945 |
| Trane Technologies Financing Ltd. |  |  |
| 3.50%, 03/21/26 | &nbsp;&nbsp; 90 | 88613 |
| 3.80%, 03/21/29 | &nbsp;&nbsp; 120 | 115904 |
| Trane Technologies Global Holding Co. Ltd., 3.75%, <br> 08/21/28<br>| &nbsp;&nbsp; 170 | 165013 |
| Vulcan Materials Co., 3.90%, 04/01/27 | &nbsp;&nbsp; 75 | 73834 |
| West China Cement Ltd., 4.95%, 07/08/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 151328 |
|  |  | 8219480 |
| **Chemicals — 0.5%** | **Chemicals — 0.5%** | **Chemicals — 0.5%** |
| Air Products and Chemicals Inc. |  |  |
| 1.85%, 05/15/27 | &nbsp;&nbsp; 35 | 32858 |
| 4.60%, 02/08/29 | &nbsp;&nbsp; 472 | 473000 |
| Albemarle Corp., 4.65%, 06/01/27 | &nbsp;&nbsp; 225 | 223472 |
| ASP Unifrax Holdings Inc. |  |  |
| 7.10%, 09/30/29, <br> (5.85% cash and 1.25% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 221 | 131351 |
| 11.18%, 09/30/29, <br> (10.43% cash and 11.18% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 278 | 278531 |
| Axalta Coating Systems LLC, 3.38%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 245 | 225354 |
| Axalta Coating Systems LLC/Axalta Coating <br> Systems Dutch Holding B BV, 4.75%, 06/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 146996 |
| Bayport Polymers LLC, 4.74%, 04/14/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 55 | 54089 |
| Braskem Netherlands Finance BV, 4.50%, <br> 01/10/28<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 375236 |
| Cabot Corp., 4.00%, 07/01/29 | &nbsp;&nbsp; 55 | 53187 |
| Celanese U.S. Holdings LLC |  |  |
| 1.40%, 08/05/26 | &nbsp;&nbsp; 140 | 131581 |
| 6.17%, 07/15/27 | &nbsp;&nbsp; 617 | 630940 |
| 6.33%, 07/15/29 | &nbsp;&nbsp; 200 | 206946 |
| 6.35%, 11/15/28 | &nbsp;&nbsp; 400 | 413981 |
| CF Industries Inc., 4.50%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 120 | 119261 |
| Chemours Co. (The) |  |  |
| 5.38%, 05/15/27 | &nbsp;&nbsp; 190 | 182516 |
| 5.75%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 230 | 212925 |
| Chevron Phillips Chemical Co. LLC/Chevron Phillips <br> Chemical Co. LP<br>|  |  |
| 3.40%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 314 | 305825 |
| 3.70%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 15 | 14418 |
| CNAC HK Finbridge Co. Ltd. |  |  |
| 3.88%, 06/19/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190285 |
| 4.13%, 07/19/27<sup>(d)</sup> | &nbsp;&nbsp; 600 | 587501 |
| 5.13%, 03/14/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 400760 |
| Consolidated Energy Finance SA |  |  |
| 5.63%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 146585 |
| 6.50%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 70 | 68997 |
| CVR Partners LP/CVR Nitrogen Finance Corp., <br> 6.13%, 06/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 184 | 176007 |
| Dow Chemical Co. (The), 4.80%, 11/30/28 | &nbsp;&nbsp; 160 | 160319 |
| DuPont de Nemours Inc. |  |  |
| 4.49%, 11/15/25 | &nbsp;&nbsp; 730 | 727765 |
| 4.73%, 11/15/28 | &nbsp;&nbsp; 475 | 474719 |
| Eastman Chemical Co. |  |  |
| 4.50%, 12/01/28 | &nbsp;&nbsp; 130 | 128266 |
| 5.00%, 08/01/29 | &nbsp;&nbsp; 65 | 65212 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| Ecolab Inc. |  |  |
| 1.65%, 02/01/27 | &nbsp;&nbsp; $395 | $371455 |
| 2.70%, 11/01/26 | &nbsp;&nbsp; 30 | 28968 |
| 3.25%, 12/01/27 | &nbsp;&nbsp; 20 | 19266 |
| 5.25%, 01/15/28 | &nbsp;&nbsp; 355 | 362806 |
| Element Solutions Inc., 3.88%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 275 | 264881 |
| FMC Corp. |  |  |
| 3.20%, 10/01/26 | &nbsp;&nbsp; 25 | 24181 |
| 3.45%, 10/01/29 | &nbsp;&nbsp; 50 | 46011 |
| 5.15%, 05/18/26 | &nbsp;&nbsp; 185 | 185537 |
| GPD Companies Inc., 10.13%, 04/01/26<sup>(b)</sup> | &nbsp;&nbsp; 155 | 147325 |
| Hanwha Totalenergies Petrochemical Co. Ltd., <br> 5.50%, 07/18/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 202004 |
| HB Fuller Co. |  |  |
| 4.00%, 02/15/27 | &nbsp;&nbsp; 105 | 102012 |
| 4.25%, 10/15/28 | &nbsp;&nbsp; 55 | 52116 |
| Herens Holdco SARL, 4.75%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 120 | 104938 |
| Huntsman International LLC, 4.50%, 05/01/29 | &nbsp;&nbsp; 200 | 192144 |
| Illuminate Buyer LLC/Illuminate Holdings IV Inc., <br> 9.00%, 07/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 155 | 157020 |
| INEOS Finance PLC |  |  |
| 6.75%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 151157 |
| 7.50%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 206673 |
| INEOS Quattro Finance 2 PLC, 9.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 130 | 137704 |
| Ingevity Corp., 3.88%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 165871 |
| Innophos Holdings Inc., 9.38%, 02/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 95 | 89631 |
| International Flavors & Fragrances Inc. |  |  |
| 1.83%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 435 | 398391 |
| 4.45%, 09/26/28 | &nbsp;&nbsp; 45 | 44295 |
| Iris Holdings Inc., 8.75%, 02/15/26, (9.50% PIK)<sup>(b)(e)</sup> | &nbsp;&nbsp; 55 | 51401 |
| Kobe U.S. Midco 2 Inc., 9.25%, 11/01/26, <br> (10.00% PIK)<sup>(b)(c)(e)</sup><br>| &nbsp;&nbsp; 83 | 69830 |
| Kraton Corp., 5.00%, 07/15/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201415 |
| LG Chem Ltd., 1.38%, 07/07/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188116 |
| Linde Inc./CT |  |  |
| 3.20%, 01/30/26 | &nbsp;&nbsp; 270 | 266074 |
| 4.70%, 12/05/25 | &nbsp;&nbsp; 320 | 320419 |
| LYB Finance Co. BV, 8.10%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 106 | 112268 |
| LYB International Finance II BV, 3.50%, 03/02/27 | &nbsp;&nbsp; 265 | 257321 |
| Mativ Holdings Inc., 8.00%, 10/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 30 | 30493 |
| MEGlobal BV, 4.25%, 11/03/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 391601 |
| Methanex Corp., 5.13%, 10/15/27 | &nbsp;&nbsp; 220 | 214088 |
| Minerals Technologies Inc., 5.00%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 120 | 116178 |
| Mosaic Co. (The) |  |  |
| 4.05%, 11/15/27 | &nbsp;&nbsp; 225 | 220542 |
| 5.38%, 11/15/28<sup>(c)</sup> | &nbsp;&nbsp; 177 | 180071 |
| Nutrien Ltd. |  |  |
| 4.00%, 12/15/26 | &nbsp;&nbsp; 35 | 34423 |
| 4.20%, 04/01/29 | &nbsp;&nbsp; 260 | 253695 |
| 4.90%, 03/27/28 | &nbsp;&nbsp; 180 | 181117 |
| 5.20%, 06/21/27 | &nbsp;&nbsp; 165 | 167203 |
| 5.95%, 11/07/25 | &nbsp;&nbsp; 310 | 314392 |
| Olin Corp. |  |  |
| 5.13%, 09/15/27 | &nbsp;&nbsp; 195 | 192285 |
| 5.63%, 08/01/29 | &nbsp;&nbsp; 175 | 172510 |
| Olympus Water U.S. Holding Corp. |  |  |
| 4.25%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 280 | 263736 |
| 6.25%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 192417 |
| 7.13%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 115 | 116785 |
| 9.75%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 505 | 535937 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| Orbia Advance Corp. SAB de CV |  |  |
| 1.88%, 05/11/26<sup>(d)</sup> | &nbsp;&nbsp; $200 | $188850 |
| 4.00%, 10/04/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191726 |
| PPG Industries Inc. |  |  |
| 1.20%, 03/15/26 | &nbsp;&nbsp; 415 | 395271 |
| 2.80%, 08/15/29 | &nbsp;&nbsp; 45 | 41087 |
| 3.75%, 03/15/28 | &nbsp;&nbsp; 70 | 67970 |
| Rain Carbon Inc., 12.25%, 09/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 125 | 133122 |
| Rayonier AM Products Inc., 7.63%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 157 | 157112 |
| Rohm & Haas Co., 7.85%, 07/15/29 | &nbsp;&nbsp; 155 | 172091 |
| RPM International Inc. |  |  |
| 3.75%, 03/15/27 | &nbsp;&nbsp; 100 | 97611 |
| 4.55%, 03/01/29 | &nbsp;&nbsp; 100 | 98965 |
| SABIC Capital II BV, 4.50%, 10/10/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 394752 |
| Sasol Financing USA LLC |  |  |
| 4.38%, 09/18/26 | &nbsp;&nbsp; 200 | 192735 |
| 6.50%, 09/27/28 | &nbsp;&nbsp; 200 | 194352 |
| 8.75%, 05/03/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 412535 |
| SCIH Salt Holdings Inc. |  |  |
| 4.88%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 365 | 349395 |
| 6.63%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 193916 |
| SCIL IV LLC/SCIL USA Holdings LLC, Class-H, <br> 5.38%, 11/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 275 | 271829 |
| Sherwin-Williams Co. (The) |  |  |
| 2.95%, 08/15/29 | &nbsp;&nbsp; 250 | 230199 |
| 3.45%, 06/01/27 | &nbsp;&nbsp; 515 | 499858 |
| 3.95%, 01/15/26 | &nbsp;&nbsp; 55 | 54521 |
| 4.55%, 03/01/28 | &nbsp;&nbsp; 5 | 4982 |
| SNF Group SACA, 3.13%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 142637 |
| Solvay Finance America LLC, 5.65%, 06/04/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204552 |
| TPC Group Inc., 13.00%, 12/16/27<sup>(b)</sup> | &nbsp;&nbsp; 92 | 93090 |
| Tronox Inc., 4.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 335 | 303669 |
| Westlake Corp., 3.60%, 08/15/26 | &nbsp;&nbsp; 365 | 357270 |
| WR Grace Holdings LLC |  |  |
| 4.88%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 220 | 215769 |
| 5.63%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 323176 |
| Yara International ASA, 4.75%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 330 | 326654 |
| YPF SA, 9.00%, 06/30/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206126 |
|  |  | 22353408 |
| **Coal — 0.0%** | **Coal — 0.0%** | **Coal — 0.0%** |
| Alliance Resource Operating Partners LP/Alliance <br> Resource Finance Corp., 8.63%, 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 110 | 116186 |
| Coronado Finance Pty Ltd., 9.25%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 25 | 25572 |
| SunCoke Energy Inc., 4.88%, 06/30/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 135453 |
|  |  | 277211 |
| **Commercial Services — 0.6%** | **Commercial Services — 0.6%** | **Commercial Services — 0.6%** |
| Adani Ports & Special Economic Zone Ltd. |  |  |
| 4.00%, 07/30/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190118 |
| 4.20%, 08/04/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190953 |
| 4.38%, 07/03/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 185590 |
| ADT Security Corp. (The), 4.13%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 257145 |
| Adtalem Global Education Inc., 5.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 121 | 118593 |
| Albion Financing 1 SARL/Aggreko Holdings Inc., <br> 6.13%, 10/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 200231 |
| Albion Financing 2 SARL, 8.75%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 135 | 137941 |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp.<br>|  |  |
| 6.00%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 285 | 260804 |
| 9.75%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 305 | 305674 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp./Atlas Luxco 4 SARL, 4.63%, <br> 06/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; $640 | $600073 |
| Alta Equipment Group Inc., 9.00%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 133299 |
| AMN Healthcare Inc. |  |  |
| 4.00%, 04/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 105 | 96826 |
| 4.63%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 168696 |
| Ashtead Capital Inc. |  |  |
| 1.50%, 08/12/26<sup>(b)</sup> | &nbsp;&nbsp; 225 | 211907 |
| 4.38%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 315 | 310407 |
| Automatic Data Processing Inc., 1.70%, 05/15/28 | &nbsp;&nbsp; 205 | 187082 |
| Avis Budget Car Rental LLC/Avis Budget <br> Finance Inc.<br>|  |  |
| 4.75%, 04/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 160 | 150237 |
| 5.38%, 03/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 180 | 167610 |
| 5.75%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 135 | 132635 |
| 5.75%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 140 | 136710 |
| 8.25%, 01/15/30<sup>(b)(c)</sup> | &nbsp;&nbsp; 80 | 81674 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200414 |
| Bidvest Group U.K. PLC, 3.63%, 09/23/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194679 |
| Block Financial LLC, 2.50%, 07/15/28 | &nbsp;&nbsp; 130 | 118793 |
| Block Inc., 2.75%, 06/01/26 | &nbsp;&nbsp; 330 | 318079 |
| Brink's Co. (The) |  |  |
| 4.63%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 225 | 218548 |
| 6.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 85 | 86847 |
| Carriage Services Inc., 4.25%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 114607 |
| Champions Financing Inc., 8.75%, 02/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 180 | 181713 |
| Cintas Corp. No. 2, 3.70%, 04/01/27 | &nbsp;&nbsp; 300 | 294657 |
| CK Hutchison International 23 Ltd., 4.75%, <br> 04/21/28<sup>(b)</sup><br>| &nbsp;&nbsp; 995 | 991729 |
| CMHI Finance BVI Co. Ltd. |  |  |
| 4.00%, 06/01/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196877 |
| 5.00%, 08/06/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201632 |
| CoreCivic Inc. |  |  |
| 4.75%, 10/15/27 | &nbsp;&nbsp; 75 | 71448 |
| 8.25%, 04/15/29 | &nbsp;&nbsp; 160 | 168245 |
| CPI CG Inc., 10.00%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 95 | 99998 |
| Dcli Bidco LLC, 7.75%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 80 | 81366 |
| Deluxe Corp., 8.00%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 140 | 131961 |
| DP World Crescent Ltd. |  |  |
| 3.88%, 07/18/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190929 |
| 4.85%, 09/26/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199291 |
| DP World Salaam, 6.00%, <br> (5-year CMT + 5.750%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 600 | 597907 |
| Element Fleet Management Corp. |  |  |
| 5.64%, 03/13/27<sup>(b)</sup> | &nbsp;&nbsp; 105 | 106473 |
| 6.27%, 06/26/26<sup>(b)</sup> | &nbsp;&nbsp; 180 | 183569 |
| 6.32%, 12/04/28<sup>(b)</sup> | &nbsp;&nbsp; 280 | 292778 |
| Equifax Inc. |  |  |
| 2.60%, 12/15/25 | &nbsp;&nbsp; 192 | 187356 |
| 4.80%, 09/15/29 | &nbsp;&nbsp; 115 | 113913 |
| 5.10%, 12/15/27 | &nbsp;&nbsp; 295 | 297326 |
| 5.10%, 06/01/28 | &nbsp;&nbsp; 225 | 226435 |
| EquipmentShare.com Inc., 9.00%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 350 | 362050 |
| ERAC USA Finance LLC |  |  |
| 3.30%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 240 | 233581 |
| 3.80%, 11/01/25<sup>(b)</sup> | &nbsp;&nbsp; 360 | 357225 |
| 4.60%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 310 | 309152 |
| 5.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 277708 |
| Experian Finance PLC, 4.25%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195584 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Garda World Security Corp. |  |  |
| 4.63%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; $180 | $175233 |
| 6.00%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 140534 |
| 7.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 154885 |
| 9.50%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200065 |
| GEO Group Inc. (The), 8.63%, 04/15/29 | &nbsp;&nbsp; 195 | 203905 |
| Global Payments Inc. |  |  |
| 1.20%, 03/01/26 | &nbsp;&nbsp; 400 | 381571 |
| 2.15%, 01/15/27 | &nbsp;&nbsp; 260 | 245596 |
| 3.20%, 08/15/29 | &nbsp;&nbsp; 400 | 368156 |
| 4.45%, 06/01/28 | &nbsp;&nbsp; 60 | 58942 |
| 4.80%, 04/01/26 | &nbsp;&nbsp; 250 | 249570 |
| 4.95%, 08/15/27 | &nbsp;&nbsp; 164 | 164580 |
| 5.30%, 08/15/29 | &nbsp;&nbsp; 100 | 100836 |
| Graham Holdings Co., 5.75%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 130 | 130003 |
| Grand Canyon University, 5.13%, 10/01/28 | &nbsp;&nbsp; 125 | 117149 |
| GXO Logistics Inc. |  |  |
| 1.65%, 07/15/26 | &nbsp;&nbsp; 175 | 165741 |
| 6.25%, 05/06/29 | &nbsp;&nbsp; 230 | 237490 |
| Herc Holdings Inc. |  |  |
| 5.50%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 400 | 396870 |
| 6.63%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 215 | 220095 |
| Hertz Corp. (The) |  |  |
| 4.63%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 160 | 120793 |
| 12.63%, 07/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 225 | 238529 |
| HPHT Finance 21 II Ltd., 1.50%, 09/17/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 187629 |
| HPHT Finance 21 Ltd., 2.00%, 03/19/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191987 |
| Korn Ferry, 4.63%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 120 | 116958 |
| Matthews International Corp., 8.63%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 50 | 51522 |
| Mavis Tire Express Services Topco Corp., 6.50%, <br> 05/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 220 | 210690 |
| Mersin Uluslararasi Liman Isletmeciligi AS, 8.25%, <br> 11/15/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 207379 |
| Moody's Corp., 3.25%, 01/15/28 | &nbsp;&nbsp; 175 | 168708 |
| NESCO Holdings II Inc., 5.50%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 255923 |
| PayPal Holdings Inc. |  |  |
| 2.65%, 10/01/26 | &nbsp;&nbsp; 105 | 101472 |
| 2.85%, 10/01/29 | &nbsp;&nbsp; 400 | 368182 |
| 3.90%, 06/01/27 | &nbsp;&nbsp; 295 | 291403 |
| Paysafe Finance PLC/Paysafe Holdings U.S. Corp., <br> 4.00%, 06/15/29<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 100 | 92112 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc.<br>|  |  |
| 3.38%, 08/31/27<sup>(b)</sup> | &nbsp;&nbsp; 330 | 310349 |
| 5.75%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 405 | 405288 |
| 6.25%, 01/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 405 | 404594 |
| PSA Treasury Pte Ltd., 2.50%, 04/12/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193969 |
| RELX Capital Inc., 4.00%, 03/18/29 | &nbsp;&nbsp; 210 | 204314 |
| RR Donnelley & Sons Co. |  |  |
| 9.50%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 325 | 327346 |
| 10.88%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 147876 |
| S&P Global Inc. |  |  |
| 2.45%, 03/01/27 | &nbsp;&nbsp; 519 | 495146 |
| 2.70%, 03/01/29 | &nbsp;&nbsp; 355 | 327716 |
| 2.95%, 01/22/27 | &nbsp;&nbsp; 69 | 66759 |
| 4.25%, 05/01/29 | &nbsp;&nbsp; 275 | 270144 |
| Service Corp. International/U.S. |  |  |
| 4.63%, 12/15/27 | &nbsp;&nbsp; 185 | 181146 |
| 5.13%, 06/01/29 | &nbsp;&nbsp; 225 | 220891 |
| 7.50%, 04/01/27 | &nbsp;&nbsp; 55 | 57709 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Shift4 Payments LLC/Shift4 Payments Finance <br> Sub Inc., 4.63%, 11/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; $155 | $152697 |
| Sodexo Inc., 1.63%, 04/16/26<sup>(b)</sup> | &nbsp;&nbsp; 255 | 242461 |
| Sotheby's, 7.38%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 255 | 247642 |
| Sotheby's/Bidfair Holdings Inc., 5.88%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 105 | 92282 |
| StoneMor Inc., 8.50%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 111296 |
| Transurban Finance Co. Pty. Ltd. |  |  |
| 3.38%, 03/22/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 215 | 207567 |
| 4.13%, 02/02/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 5 | 4947 |
| TriNet Group Inc., 3.50%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 136828 |
| Triton Container International Ltd., 2.05%, <br> 04/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 237 | 226103 |
| UL Solutions Inc., 6.50%, 10/20/28<sup>(b)</sup> | &nbsp;&nbsp; 105 | 110202 |
| United Rentals North America Inc. |  |  |
| 3.88%, 11/15/27 | &nbsp;&nbsp; 225 | 216600 |
| 4.88%, 01/15/28 | &nbsp;&nbsp; 500 | 488996 |
| 5.50%, 05/15/27 | &nbsp;&nbsp; 150 | 149748 |
| Upbound Group Inc., 6.38%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 142698 |
| Verisk Analytics Inc., 4.13%, 03/15/29 | &nbsp;&nbsp; 100 | 97761 |
| VM Consolidated Inc., 5.50%, 04/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 96711 |
| WASH Multifamily Acquisition Inc., 5.75%, <br> 04/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 260 | 259390 |
| Williams Scotsman Inc. |  |  |
| 4.63%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 162744 |
| 6.63%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 80 | 81235 |
| Zhejiang Seaport International Co. Ltd., 1.98%, <br> 03/17/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 383621 |
|  |  | 25566359 |
| **Computers — 0.6%** | **Computers — 0.6%** | **Computers — 0.6%** |
| Accenture Capital Inc. |  |  |
| 3.90%, 10/04/27 | &nbsp;&nbsp; 155 | 153079 |
| 4.05%, 10/04/29 | &nbsp;&nbsp; 350 | 342179 |
| Ahead DB Holdings LLC, 6.63%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 126148 |
| Apple Inc. |  |  |
| 0.70%, 02/08/26 | &nbsp;&nbsp; 1062 | 1013797 |
| 1.20%, 02/08/28 | &nbsp;&nbsp; 930 | 842183 |
| 1.40%, 08/05/28 | &nbsp;&nbsp; 810 | 727657 |
| 2.05%, 09/11/26 | &nbsp;&nbsp; 545 | 522808 |
| 2.20%, 09/11/29 | &nbsp;&nbsp; 525 | 475031 |
| 2.45%, 08/04/26 | &nbsp;&nbsp; 895 | 866631 |
| 2.90%, 09/12/27 | &nbsp;&nbsp; 320 | 308012 |
| 3.00%, 06/20/27 | &nbsp;&nbsp; 300 | 290537 |
| 3.00%, 11/13/27 | &nbsp;&nbsp; 355 | 341872 |
| 3.20%, 05/11/27 | &nbsp;&nbsp; 390 | 379690 |
| 3.25%, 02/23/26 | &nbsp;&nbsp; 462 | 455674 |
| 3.25%, 08/08/29 | &nbsp;&nbsp; 25 | 23793 |
| 3.35%, 02/09/27 | &nbsp;&nbsp; 910 | 891376 |
| 4.00%, 05/10/28 | &nbsp;&nbsp; 565 | 560131 |
| 4.42%, 05/08/26 | &nbsp;&nbsp; 12 | 12003 |
| ASGN Inc., 4.63%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 172005 |
| Booz Allen Hamilton Inc. |  |  |
| 3.88%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 74 | 70931 |
| 4.00%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 155 | 147970 |
| CA Magnum Holdings, 5.38%, 10/31/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392979 |
| CGI Inc., 1.45%, 09/14/26 | &nbsp;&nbsp; 45 | 42315 |
| Crowdstrike Holdings Inc., 3.00%, 02/15/29 | &nbsp;&nbsp; 240 | 218288 |
| Dell Inc., 7.10%, 04/15/28 | &nbsp;&nbsp; 45 | 48174 |
| Dell International LLC/EMC Corp. |  |  |
| 4.90%, 10/01/26 | &nbsp;&nbsp; 625 | 626716 |
| 5.25%, 02/01/28 | &nbsp;&nbsp; 437 | 443789 |
| 5.30%, 10/01/29 | &nbsp;&nbsp; 550 | 558940 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| 6.02%, 06/15/26 | &nbsp;&nbsp; $637 | $647545 |
| 6.10%, 07/15/27 | &nbsp;&nbsp; 145 | 150031 |
| DXC Technology Co. |  |  |
| 1.80%, 09/15/26 | &nbsp;&nbsp; 235 | 220933 |
| 2.38%, 09/15/28 | &nbsp;&nbsp; 155 | 137925 |
| Fortinet Inc., 1.00%, 03/15/26 | &nbsp;&nbsp; 255 | 242346 |
| Gartner Inc. |  |  |
| 3.63%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 155 | 144695 |
| 4.50%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 315 | 307372 |
| Genpact Luxembourg SARL/Genpact USA Inc. |  |  |
| 1.75%, 04/10/26 | &nbsp;&nbsp; 45 | 42972 |
| 6.00%, 06/04/29 | &nbsp;&nbsp; 125 | 128399 |
| Hewlett Packard Enterprise Co. |  |  |
| 1.75%, 04/01/26 | &nbsp;&nbsp; 147 | 140820 |
| 4.40%, 09/25/27 | &nbsp;&nbsp; 325 | 322279 |
| 4.45%, 09/25/26 | &nbsp;&nbsp; 300 | 298661 |
| 4.55%, 10/15/29 | &nbsp;&nbsp; 575 | 564112 |
| 5.25%, 07/01/28 | &nbsp;&nbsp; 210 | 212574 |
| HP Inc. |  |  |
| 1.45%, 06/17/26 | &nbsp;&nbsp; 10 | 9480 |
| 3.00%, 06/17/27 | &nbsp;&nbsp; 340 | 325968 |
| 4.00%, 04/15/29 | &nbsp;&nbsp; 300 | 289409 |
| 4.75%, 01/15/28<sup>(c)</sup> | &nbsp;&nbsp; 390 | 390849 |
| IBM International Capital Pte Ltd. |  |  |
| 4.60%, 02/05/27 | &nbsp;&nbsp; 200 | 200408 |
| 4.60%, 02/05/29 | &nbsp;&nbsp; 200 | 199320 |
| 4.70%, 02/05/26 | &nbsp;&nbsp; 195 | 195120 |
| International Business Machines Corp. |  |  |
| 1.70%, 05/15/27 | &nbsp;&nbsp; 120 | 111850 |
| 2.20%, 02/09/27 | &nbsp;&nbsp; 393 | 373069 |
| 3.30%, 05/15/26 | &nbsp;&nbsp; 985 | 966343 |
| 3.30%, 01/27/27 | &nbsp;&nbsp; 125 | 121769 |
| 3.45%, 02/19/26 | &nbsp;&nbsp; 500 | 493162 |
| 3.50%, 05/15/29 | &nbsp;&nbsp; 955 | 907531 |
| 4.15%, 07/27/27 | &nbsp;&nbsp; 215 | 212730 |
| 4.50%, 02/06/26 | &nbsp;&nbsp; 295 | 294580 |
| 4.50%, 02/06/28 | &nbsp;&nbsp; 435 | 434331 |
| 6.22%, 08/01/27 | &nbsp;&nbsp; 20 | 20859 |
| KBR Inc., 4.75%, 09/30/28<sup>(b)</sup> | &nbsp;&nbsp; 75 | 72094 |
| Kyndryl Holdings Inc. |  |  |
| 2.05%, 10/15/26 | &nbsp;&nbsp; 219 | 207191 |
| 2.70%, 10/15/28 | &nbsp;&nbsp; 100 | 90985 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 415 | 456952 |
| NCR Voyix Corp. |  |  |
| 5.00%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 235 | 225878 |
| 5.13%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 104 | 99263 |
| NetApp Inc., 2.38%, 06/22/27<sup>(c)</sup> | &nbsp;&nbsp; 108 | 102035 |
| Science Applications International Corp., 4.88%, <br> 04/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 120 | 117561 |
| Seagate HDD Cayman |  |  |
| 3.13%, 07/15/29 | &nbsp;&nbsp; 55 | 48099 |
| 4.09%, 06/01/29 | &nbsp;&nbsp; 59 | 55642 |
| 4.88%, 06/01/27 | &nbsp;&nbsp; 200 | 197487 |
| Unisys Corp., 6.88%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 165 | 161484 |
| Vericast Corp/Harland Clarke/Checks in the <br> Mail/Valassis Comm/Valassis Direct, 13.00%, <br> 12/15/30, (5.00% cash and 10.00% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 114 | 134452 |
| Virtusa Corp., 7.13%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 121328 |
| Western Digital Corp. |  |  |
| 2.85%, 02/01/29 | &nbsp;&nbsp; 155 | 137208 |
| 4.75%, 02/15/26 | &nbsp;&nbsp; 677 | 668566 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| Wipro IT Services LLC, 1.50%, 06/23/26<sup>(d)</sup> | &nbsp;&nbsp; $200 | $189385 |
|  |  | 23247760 |
| **Cosmetics & Personal Care — 0.2%** | **Cosmetics & Personal Care — 0.2%** | **Cosmetics & Personal Care — 0.2%** |
| Colgate-Palmolive Co. |  |  |
| 3.10%, 08/15/27 | &nbsp;&nbsp; 155 | 150414 |
| 4.60%, 03/01/28 | &nbsp;&nbsp; 100 | 101359 |
| 4.80%, 03/02/26 | &nbsp;&nbsp; 110 | 110670 |
| Conopco Inc., Series E, 7.25%, 12/15/26 | &nbsp;&nbsp; 60 | 63174 |
| Coty Inc., 5.00%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 225 | 223874 |
| Coty Inc./HFC Prestige Products Inc./HFC Prestige <br> International U.S. LLC, 4.75%, 01/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 155 | 149503 |
| Edgewell Personal Care Co. |  |  |
| 4.13%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 140226 |
| 5.50%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 225 | 222177 |
| Estee Lauder Companies Inc. (The) |  |  |
| 3.15%, 03/15/27 | &nbsp;&nbsp; 40 | 38749 |
| 4.38%, 05/15/28 | &nbsp;&nbsp; 125 | 123915 |
| Haleon U.S. Capital LLC |  |  |
| 3.38%, 03/24/27 | &nbsp;&nbsp; 735 | 713491 |
| 3.38%, 03/24/29 | &nbsp;&nbsp; 265 | 250408 |
| Kenvue Inc. |  |  |
| 5.05%, 03/22/28 | &nbsp;&nbsp; 400 | 407078 |
| 5.35%, 03/22/26 | &nbsp;&nbsp; 380 | 384244 |
| Oriflame Investment Holding PLC, 5.13%, <br> 05/04/26<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 46252 |
| Prestige Brands Inc., 5.13%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 120 | 117647 |
| Procter & Gamble Co. (The) |  |  |
| 1.00%, 04/23/26 | &nbsp;&nbsp; 222 | 212119 |
| 1.90%, 02/01/27 | &nbsp;&nbsp; 225 | 213673 |
| 2.45%, 11/03/26 | &nbsp;&nbsp; 120 | 115803 |
| 2.70%, 02/02/26<sup>(c)</sup> | &nbsp;&nbsp; 265 | 259996 |
| 2.80%, 03/25/27 | &nbsp;&nbsp; 265 | 256298 |
| 2.85%, 08/11/27 | &nbsp;&nbsp; 215 | 206998 |
| 3.95%, 01/26/28 | &nbsp;&nbsp; 110 | 108759 |
| 4.10%, 01/26/26 | &nbsp;&nbsp; 100 | 99839 |
| 4.15%, 10/24/29 | &nbsp;&nbsp; 150 | 148993 |
| 4.35%, 01/29/29 | &nbsp;&nbsp; 150 | 150146 |
| Unilever Capital Corp. |  |  |
| 2.00%, 07/28/26 | &nbsp;&nbsp; 250 | 240282 |
| 2.13%, 09/06/29 | &nbsp;&nbsp; 240 | 214372 |
| 2.90%, 05/05/27 | &nbsp;&nbsp; 230 | 221841 |
| 3.50%, 03/22/28 | &nbsp;&nbsp; 400 | 387742 |
| 4.25%, 08/12/27 | &nbsp;&nbsp; 100 | 99628 |
| 4.88%, 09/08/28 | &nbsp;&nbsp; 305 | 308861 |
|  |  | 6488531 |
| **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** |
| American Builders & Contractors Supply Co. Inc., <br> 4.00%, 01/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 213868 |
| BCPE Empire Holdings Inc., 7.63%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 220 | 221287 |
| Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 172540 |
| Ferguson Finance PLC, 4.50%, 10/24/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 200515 |
| Fujian Zhanglong Group Co. Ltd., 6.70%, <br> 09/02/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 203887 |
| Gates Corp./DE, 6.88%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 145 | 149172 |
| H&E Equipment Services Inc., 3.88%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 375 | 346424 |
| LKQ Corp., 5.75%, 06/15/28 | &nbsp;&nbsp; 200 | 203811 |
| Mitsubishi Corp. |  |  |
| 1.13%, 07/15/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 420 | 395187 |
| 5.00%, 07/05/28<sup>(b)</sup> | &nbsp;&nbsp; 400 | 403668 |
| 5.00%, 07/02/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 212410 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Distribution & Wholesale (continued)** | **Distribution & Wholesale (continued)** | **Distribution & Wholesale (continued)** |
| Mitsui & Co. Ltd., 4.40%, 09/12/29<sup>(d)</sup> | &nbsp;&nbsp; $200 | $196788 |
| Ritchie Bros Holdings Inc., 6.75%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 184769 |
| Sumitomo Corp. |  |  |
| 1.55%, 07/06/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 378962 |
| 5.05%, 07/03/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201614 |
| Telecommunications Co. Telekom Srbija AD <br> Belgrade, 7.00%, 10/28/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 200255 |
| Velocity Vehicle Group LLC, 8.00%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 154270 |
| Wesco Aircraft Holdings Inc. |  |  |
| 8.50%, 11/15/24<sup>(b)(h)(i)</sup> | &nbsp;&nbsp; 320 | 47986 |
| 9.00%, 11/15/26<sup>(b)(h)(i)</sup> | &nbsp;&nbsp; 463 | 192759 |
|  |  | 4280172 |
| **Diversified Financial Services — 1.8%** | **Diversified Financial Services — 1.8%** | **Diversified Financial Services — 1.8%** |
| abrdn PLC, 4.25%, 06/30/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189634 |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 1.75%, 01/30/26 | &nbsp;&nbsp; 345 | 331706 |
| 2.45%, 10/29/26 | &nbsp;&nbsp; 1295 | 1236042 |
| 3.00%, 10/29/28 | &nbsp;&nbsp; 1140 | 1057793 |
| 3.65%, 07/21/27<sup>(c)</sup> | &nbsp;&nbsp; 540 | 523841 |
| 3.88%, 01/23/28 | &nbsp;&nbsp; 235 | 227521 |
| 4.63%, 10/15/27 | &nbsp;&nbsp; 115 | 114112 |
| 4.63%, 09/10/29 | &nbsp;&nbsp; 370 | 362306 |
| 5.10%, 01/19/29 | &nbsp;&nbsp; 210 | 210507 |
| 5.75%, 06/06/28 | &nbsp;&nbsp; 255 | 261504 |
| 6.10%, 01/15/27 | &nbsp;&nbsp; 155 | 158925 |
| 6.45%, 04/15/27 | &nbsp;&nbsp; 220 | 227727 |
| AG Issuer LLC, 6.25%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195530 |
| AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27<sup>(b)</sup> | &nbsp;&nbsp; 158 | 163182 |
| Air Lease Corp. |  |  |
| 1.88%, 08/15/26 | &nbsp;&nbsp; 422 | 400973 |
| 2.10%, 09/01/28 | &nbsp;&nbsp; 280 | 252022 |
| 2.20%, 01/15/27 | &nbsp;&nbsp; 377 | 356463 |
| 2.88%, 01/15/26 | &nbsp;&nbsp; 549 | 536008 |
| 3.25%, 10/01/29 | &nbsp;&nbsp; 150 | 138485 |
| 3.63%, 04/01/27 | &nbsp;&nbsp; 25 | 24380 |
| 3.63%, 12/01/27 | &nbsp;&nbsp; 15 | 14474 |
| 3.75%, 06/01/26 | &nbsp;&nbsp; 245 | 240808 |
| 4.63%, 10/01/28 | &nbsp;&nbsp; 55 | 54401 |
| 5.10%, 03/01/29 | &nbsp;&nbsp; 150 | 150872 |
| 5.30%, 06/25/26 | &nbsp;&nbsp; 100 | 100841 |
| 5.30%, 02/01/28 | &nbsp;&nbsp; 280 | 283817 |
| 5.85%, 12/15/27 | &nbsp;&nbsp; 375 | 385902 |
| Aircastle Ltd. |  |  |
| 2.85%, 01/26/28<sup>(b)</sup> | &nbsp;&nbsp; 325 | 301547 |
| 4.25%, 06/15/26 | &nbsp;&nbsp; 145 | 143103 |
| 5.95%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 153186 |
| 6.50%, 07/18/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 212481 |
| Ally Financial Inc. |  |  |
| 2.20%, 11/02/28 | &nbsp;&nbsp; 35 | 31098 |
| 4.75%, 06/09/27 | &nbsp;&nbsp; 205 | 203585 |
| 5.75%, 11/20/25 | &nbsp;&nbsp; 325 | 326168 |
| 6.85%, 01/03/30, (1-day SOFR + 2.282%)<sup>(a)</sup> | &nbsp;&nbsp; 155 | 161103 |
| 6.99%, 06/13/29, (1-day SOFR + 3.260%)<sup>(a)</sup> | &nbsp;&nbsp; 370 | 386079 |
| 7.10%, 11/15/27 | &nbsp;&nbsp; 225 | 236691 |
| American Express Co. |  |  |
| 1.65%, 11/04/26 | &nbsp;&nbsp; 418 | 394415 |
| 2.55%, 03/04/27 | &nbsp;&nbsp; 565 | 539480 |
| 3.13%, 05/20/26 | &nbsp;&nbsp; 375 | 367146 |
| 3.30%, 05/03/27 | &nbsp;&nbsp; 625 | 605673 |
| 4.05%, 05/03/29 | &nbsp;&nbsp; 265 | 259259 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 4.20%, 11/06/25 | &nbsp;&nbsp; $339 | $337894 |
| 4.90%, 02/13/26 | &nbsp;&nbsp; 460 | 461940 |
| 5.04%, 07/26/28, (1-day SOFR +0.930%)<sup>(a)</sup> | &nbsp;&nbsp; 180 | 181114 |
| 5.10%, 02/16/28, (1-day SOFR + 1.000%)<sup>(a)</sup> | &nbsp;&nbsp; 470 | 473500 |
| 5.28%, 07/27/29, <br> (1-day SOFR Index + 1.280%)<sup>(a)</sup><br>| &nbsp;&nbsp; 420 | 426592 |
| 5.39%, 07/28/27, (1-day SOFR + 0.970%)<sup>(a)</sup> | &nbsp;&nbsp; 390 | 394080 |
| 5.53%, 04/25/30, <br> (1-day SOFR Index + 1.090%)<sup>(a)</sup><br>| &nbsp;&nbsp; 405 | 415129 |
| 5.65%, 04/23/27, <br> (1-day SOFR Index + 0.750%)<sup>(a)</sup><br>| &nbsp;&nbsp; 330 | 334180 |
| 5.85%, 11/05/27 | &nbsp;&nbsp; 444 | 459162 |
| American Express Credit Corp., 3.30%, 05/03/27 | &nbsp;&nbsp; 160 | 155661 |
| Ameriprise Financial Inc. |  |  |
| 2.88%, 09/15/26 | &nbsp;&nbsp; 25 | 24291 |
| 5.70%, 12/15/28 | &nbsp;&nbsp; 170 | 177121 |
| Andrew W Mellon Foundation (The), Series 2020, <br> 0.95%, 08/01/27<br>| &nbsp;&nbsp; 20 | 18244 |
| Ares Finance Co. III LLC, 4.13%, 06/30/51, <br> (5-year CMT + 3.237%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 259 | 247202 |
| Aretec Group Inc., 7.50%, 04/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 125 | 120330 |
| Aviation Capital Group LLC |  |  |
| 1.95%, 01/30/26<sup>(b)</sup> | &nbsp;&nbsp; 272 | 261228 |
| 1.95%, 09/20/26<sup>(b)</sup> | &nbsp;&nbsp; 327 | 308814 |
| 3.50%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 25 | 23814 |
| 5.38%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 155 | 155975 |
| 6.25%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 290 | 299109 |
| 6.75%, 10/25/28<sup>(b)</sup> | &nbsp;&nbsp; 135 | 141965 |
| Avolon Holdings Funding Ltd. |  |  |
| 2.13%, 02/21/26<sup>(b)</sup> | &nbsp;&nbsp; 275 | 263778 |
| 2.53%, 11/18/27<sup>(b)</sup> | &nbsp;&nbsp; 749 | 692037 |
| 2.75%, 02/21/28<sup>(b)</sup> | &nbsp;&nbsp; 115 | 106173 |
| 3.25%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 292 | 279487 |
| 4.25%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 332 | 326741 |
| 4.38%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 246383 |
| 5.50%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 247 | 247095 |
| 5.75%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 354578 |
| 6.38%, 05/04/28<sup>(b)</sup> | &nbsp;&nbsp; 275 | 283746 |
| Banco BTG Pactual SA/Cayman Islands |  |  |
| 2.75%, 01/11/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193007 |
| 5.75%, 01/22/30<sup>(b)</sup> | &nbsp;&nbsp; 200 | 197429 |
| Bayfront Infrastructure Management Pte. Ltd., <br> 4.26%, 05/16/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 198999 |
| BGC Group Inc. |  |  |
| 6.60%, 06/10/29 | &nbsp;&nbsp; 125 | 127030 |
| 8.00%, 05/25/28 | &nbsp;&nbsp; 120 | 127270 |
| Blackstone Holdings Finance Co. LLC |  |  |
| 1.63%, 08/05/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 111470 |
| 3.15%, 10/02/27<sup>(b)</sup> | &nbsp;&nbsp; 112 | 106728 |
| 5.90%, 11/03/27<sup>(b)</sup> | &nbsp;&nbsp; 185 | 191499 |
| Blue Bright Ltd., 2.38%, 02/09/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 386361 |
| BOC Aviation Ltd. |  |  |
| 1.75%, 01/21/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 577680 |
| 3.50%, 09/18/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 385772 |
| BOC Aviation USA Corp., 5.75%, 11/09/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205935 |
| BOCOM International Blossom Ltd., 1.75%, <br> 06/28/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189456 |
| Bocom Leasing Management Hong Kong Co. Ltd. |  |  |
| 5.00%, 06/26/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201429 |
| 5.54%, 06/26/27, <br> (1-day SOFR Index + 0.680%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 199719 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Bread Financial Holdings Inc., 9.75%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; $280 | $295427 |
| Brightsphere Investment Group Inc., 4.80%, <br> 07/27/26<br>| &nbsp;&nbsp; 100 | 97895 |
| Brookfield Finance Inc. |  |  |
| 3.90%, 01/25/28 | &nbsp;&nbsp; 455 | 443176 |
| 4.25%, 06/02/26 | &nbsp;&nbsp; 15 | 14906 |
| 4.85%, 03/29/29 | &nbsp;&nbsp; 305 | 304734 |
| Burford Capital Global Finance LLC, 6.25%, <br> 04/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 149679 |
| Cantor Fitzgerald LP |  |  |
| 4.50%, 04/14/27<sup>(b)</sup> | &nbsp;&nbsp; 182 | 178063 |
| 7.20%, 12/12/28<sup>(b)</sup> | &nbsp;&nbsp; 225 | 235519 |
| Capital One Financial Corp. |  |  |
| 1.88%, 11/02/27, (1-day SOFR + 0.855%)<sup>(a)</sup> | &nbsp;&nbsp; 592 | 558120 |
| 3.27%, 03/01/30, (1-day SOFR + 1.790%)<sup>(a)</sup> | &nbsp;&nbsp; 325 | 301191 |
| 3.65%, 05/11/27 | &nbsp;&nbsp; 255 | 248563 |
| 3.75%, 07/28/26 | &nbsp;&nbsp; 430 | 420865 |
| 3.75%, 03/09/27 | &nbsp;&nbsp; 120 | 117251 |
| 3.80%, 01/31/28 | &nbsp;&nbsp; 645 | 623505 |
| 4.93%, 05/10/28, (1-day SOFR + 2.057%)<sup>(a)</sup> | &nbsp;&nbsp; 622 | 622678 |
| 5.25%, 07/26/30, (1-day SOFR + 2.600%)<sup>(a)</sup> | &nbsp;&nbsp; 250 | 249809 |
| 5.46%, 07/26/30, (1-day SOFR +1.560%)<sup>(a)</sup> | &nbsp;&nbsp; 225 | 226985 |
| 5.47%, 02/01/29, (1-day SOFR + 2.080%)<sup>(a)</sup> | &nbsp;&nbsp; 360 | 364327 |
| 5.70%, 02/01/30, (1-day SOFR + 1.905%)<sup>(a)</sup> | &nbsp;&nbsp; 230 | 234369 |
| 6.31%, 06/08/29, (1-day SOFR + 2.640%)<sup>(a)</sup> | &nbsp;&nbsp; 435 | 451697 |
| 7.15%, 10/29/27, (1-day SOFR + 2.440%)<sup>(a)</sup> | &nbsp;&nbsp; 280 | 292103 |
| Castlelake Aviation Finance DAC, 5.00%, <br> 04/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 140 | 140879 |
| Cboe Global Markets Inc., 3.65%, 01/12/27 | &nbsp;&nbsp; 160 | 156998 |
| CCBL Cayman 1 Corp. Ltd. |  |  |
| 1.60%, 09/15/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188346 |
| 1.80%, 07/22/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189878 |
| CDBL Funding 2, 2.00%, 03/04/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 577396 |
| CDP Financial Inc., 4.50%, 02/13/26<sup>(b)</sup> | &nbsp;&nbsp; 600 | 600264 |
| Charles Schwab Corp. (The) |  |  |
| 0.90%, 03/11/26 | &nbsp;&nbsp; 448 | 425616 |
| 1.15%, 05/13/26 | &nbsp;&nbsp; 464 | 440478 |
| 2.00%, 03/20/28 | &nbsp;&nbsp; 310 | 284419 |
| 2.45%, 03/03/27 | &nbsp;&nbsp; 514 | 489199 |
| 3.20%, 03/02/27 | &nbsp;&nbsp; 200 | 193577 |
| 3.20%, 01/25/28 | &nbsp;&nbsp; 95 | 90754 |
| 3.25%, 05/22/29 | &nbsp;&nbsp; 155 | 145943 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 255 | 247148 |
| 3.45%, 02/13/26 | &nbsp;&nbsp; 210 | 206594 |
| 4.00%, 02/01/29 | &nbsp;&nbsp; 200 | 194919 |
| 5.64%, 05/19/29, (1-day SOFR + 2.210%)<sup>(a)</sup> | &nbsp;&nbsp; 615 | 630541 |
| 5.88%, 08/24/26 | &nbsp;&nbsp; 135 | 137759 |
| 6.20%, 11/17/29, (1-day SOFR + 1.878%)<sup>(a)</sup> | &nbsp;&nbsp; 300 | 314849 |
| China Cinda 2020 I Management Ltd. |  |  |
| 1.88%, 01/20/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 384079 |
| 3.00%, 03/18/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190087 |
| 3.25%, 01/28/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 383325 |
| China Cinda Finance 2017 I Ltd. |  |  |
| 4.40%, 03/09/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392559 |
| 4.75%, 02/08/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 393054 |
| China Great Wall International Holdings V Ltd., <br> 2.88%, 11/23/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189475 |
| CI Financial Corp., 7.50%, 05/30/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 218597 |
| CICC Hong Kong Finance 2016 MTN Ltd. |  |  |
| 2.00%, 01/26/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 386428 |
| 5.44%, 07/18/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201690 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 5.49%, 03/01/26<sup>(d)</sup> | &nbsp;&nbsp; $600 | $604499 |
| 5.78%, 01/18/27, <br> (1-day SOFR Index + 0.950%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 201014 |
| Citadel LP, 4.88%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 75 | 74040 |
| Clifford Capital Pte Ltd., 1.12%, 03/23/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190682 |
| CMB International Leasing Management Ltd., <br> 2.00%, 02/04/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192562 |
| CME Group Inc., 3.75%, 06/15/28 | &nbsp;&nbsp; 105 | 102901 |
| Coinbase Global Inc., 3.38%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 330 | 294695 |
| Credit Acceptance Corp. |  |  |
| 6.63%, 03/15/26 | &nbsp;&nbsp; 120 | 119968 |
| 9.25%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 217315 |
| DAE Sukuk Difc Ltd., 3.75%, 02/15/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196286 |
| Dexia SA, 1.13%, 04/09/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 190400 |
| Discover Financial Services |  |  |
| 4.10%, 02/09/27 | &nbsp;&nbsp; 295 | 289979 |
| 4.50%, 01/30/26 | &nbsp;&nbsp; 257 | 255543 |
| Eaton Vance Corp., 3.50%, 04/06/27 | &nbsp;&nbsp; 285 | 277710 |
| Enact Holdings Inc., 6.25%, 05/28/29 | &nbsp;&nbsp; 195 | 198646 |
| Encore Capital Group Inc., 9.25%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 159823 |
| Enova International Inc. |  |  |
| 9.13%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 154242 |
| 11.25%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 115 | 123836 |
| Far East Horizon Ltd. |  |  |
| 5.88%, 03/05/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196938 |
| 6.63%, 04/16/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201599 |
| FMR LLC, 7.57%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 232969 |
| Freedom Mortgage Holdings LLC, 9.25%, <br> 02/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 355 | 363968 |
| GGAM Finance Ltd. |  |  |
| 6.88%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 135 | 137917 |
| 8.00%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 230 | 237640 |
| 8.00%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 211308 |
| 7.75%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 140 | 142623 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 206643 |
| goeasy Ltd. |  |  |
| 4.38%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 115 | 114504 |
| 7.63%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 205536 |
| 9.25%, 12/01/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 181309 |
| GPS Hospitality Holding Co. LLC/GPS Finco Inc., <br> 7.00%, 08/15/28<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 135 | 83620 |
| Guotai Junan Holdings Ltd., 2.00%, 04/21/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191772 |
| Guotai Junan International Holdings Ltd., 2.00%, <br> 03/03/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192263 |
| Hightower Holding LLC, 6.75%, 04/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 98326 |
| Hyundai Card Co. Ltd., 5.75%, 04/24/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204086 |
| ICBCIL Finance Co. Ltd. |  |  |
| 1.75%, 08/02/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189694 |
| 2.25%, 11/02/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190194 |
| 2.70%, 01/27/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191139 |
| ICD Sukuk Co. Ltd., 5.00%, 02/01/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 400882 |
| Intercontinental Exchange Inc. |  |  |
| 3.10%, 09/15/27 | &nbsp;&nbsp; 20 | 19223 |
| 3.63%, 09/01/28 | &nbsp;&nbsp; 100 | 96194 |
| 3.75%, 12/01/25 | &nbsp;&nbsp; 565 | 559882 |
| 3.75%, 09/21/28<sup>(c)</sup> | &nbsp;&nbsp; 100 | 96577 |
| 4.00%, 09/15/27 | &nbsp;&nbsp; 725 | 715241 |
| 4.35%, 06/15/29 | &nbsp;&nbsp; 400 | 394342 |
| Inventive Global Investments Ltd., 1.60%, <br> 09/01/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 188081 |
| Invesco Finance PLC, 3.75%, 01/15/26 | &nbsp;&nbsp; 229 | 226018 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, <br> 08/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; $335 | $309231 |
| Jefferies Financial Group Inc. |  |  |
| 4.85%, 01/15/27 | &nbsp;&nbsp; 225 | 224859 |
| 5.88%, 07/21/28 | &nbsp;&nbsp; 355 | 364713 |
| 6.45%, 06/08/27 | &nbsp;&nbsp; 137 | 142229 |
| Jefferson Capital Holdings LLC |  |  |
| 6.00%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 115 | 114658 |
| 9.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 133002 |
| Joy Treasure Assets Holdings Inc. |  |  |
| 1.88%, 11/17/25<sup>(d)</sup> | &nbsp;&nbsp; 600 | 579486 |
| 5.50%, 02/01/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200682 |
| 5.75%, 06/06/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202524 |
| KB Kookmin Card Co. Ltd., 1.50%, 05/13/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189338 |
| KB Securities Co. Ltd., 2.13%, 11/01/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188921 |
| Korea Investment & Securities Co. Ltd., 2.13%, <br> 07/19/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189661 |
| Korea Ocean Business Corp., 5.25%, 05/02/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202782 |
| Kuwait Projects Co. SPC Ltd. |  |  |
| 4.23%, 10/29/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 186751 |
| 4.50%, 02/23/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 371027 |
| Lazard Group LLC |  |  |
| 3.63%, 03/01/27 | &nbsp;&nbsp; 15 | 14562 |
| 4.38%, 03/11/29 | &nbsp;&nbsp; 110 | 107466 |
| 4.50%, 09/19/28 | &nbsp;&nbsp; 170 | 166540 |
| LD Holdings Group LLC |  |  |
| 6.13%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 145 | 125266 |
| 8.75%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 114 | 109141 |
| Legg Mason Inc., 4.75%, 03/15/26 | &nbsp;&nbsp; 212 | 211897 |
| LFS Topco LLC, 5.88%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 110 | 103644 |
| LPL Holdings Inc. |  |  |
| 4.00%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 205 | 192793 |
| 4.63%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195917 |
| 5.70%, 05/20/27 | &nbsp;&nbsp; 125 | 126916 |
| 6.75%, 11/17/28 | &nbsp;&nbsp; 260 | 274103 |
| LSEG U.S. Fin Corp., 4.88%, 03/28/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200701 |
| LSEGA Financing PLC |  |  |
| 1.38%, 04/06/26<sup>(b)</sup> | &nbsp;&nbsp; 430 | 410780 |
| 2.00%, 04/06/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | 273473 |
| Macquarie Airfinance Holdings Ltd. |  |  |
| 6.40%, 03/26/29<sup>(b)</sup> | &nbsp;&nbsp; 165 | 170109 |
| 8.13%, 03/30/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 158516 |
| 8.38%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 183723 |
| Mastercard Inc. |  |  |
| 2.95%, 11/21/26 | &nbsp;&nbsp; 70 | 68092 |
| 2.95%, 06/01/29 | &nbsp;&nbsp; 305 | 285879 |
| 3.30%, 03/26/27 | &nbsp;&nbsp; 345 | 336543 |
| 3.50%, 02/26/28 | &nbsp;&nbsp; 30 | 29148 |
| 4.10%, 01/15/28 | &nbsp;&nbsp; 155 | 153750 |
| 4.88%, 03/09/28 | &nbsp;&nbsp; 370 | 375354 |
| Midcap Financial Issuer Trust, 6.50%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 305 | 288559 |
| Mirae Asset Securities Co. Ltd. |  |  |
| 5.88%, 01/26/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202095 |
| 6.00%, 01/26/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204397 |
| Mitsubishi HC Capital Inc., 5.08%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200700 |
| Mitsubishi HC Finance America LLC |  |  |
| 5.15%, 10/24/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200376 |
| 5.81%, 09/12/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204691 |
| Muthoot Finance Ltd., 7.13%, 02/14/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203407 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Nasdaq Inc. |  |  |
| 3.85%, 06/30/26 | &nbsp;&nbsp; $210 | $207083 |
| 5.35%, 06/28/28 | &nbsp;&nbsp; 325 | 331692 |
| Nationstar Mortgage Holdings Inc. |  |  |
| 5.00%, 02/01/26<sup>(b)</sup> | &nbsp;&nbsp; 175 | 173328 |
| 5.50%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 280 | 273566 |
| 6.00%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 215 | 214168 |
| 6.50%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 175129 |
| Navient Corp. |  |  |
| 4.88%, 03/15/28 | &nbsp;&nbsp; 175 | 166681 |
| 5.00%, 03/15/27 | &nbsp;&nbsp; 205 | 201618 |
| 5.50%, 03/15/29 | &nbsp;&nbsp; 225 | 214334 |
| 6.75%, 06/15/26 | &nbsp;&nbsp; 170 | 173292 |
| Neuberger Berman Group LLC/Neuberger Berman <br> Finance Corp., 4.50%, 03/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 195 | 189469 |
| NH Investment & Securities Co. Ltd., 1.88%, <br> 10/07/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 188437 |
| Nomura Holdings Inc. |  |  |
| 1.65%, 07/14/26 | &nbsp;&nbsp; 330 | 312152 |
| 2.17%, 07/14/28 | &nbsp;&nbsp; 350 | 315308 |
| 2.33%, 01/22/27 | &nbsp;&nbsp; 420 | 396685 |
| 2.71%, 01/22/29 | &nbsp;&nbsp; 20 | 18184 |
| 5.39%, 07/06/27 | &nbsp;&nbsp; 205 | 206825 |
| 5.59%, 07/02/27 | &nbsp;&nbsp; 200 | 202916 |
| 5.61%, 07/06/29 | &nbsp;&nbsp; 200 | 204296 |
| 5.71%, 01/09/26 | &nbsp;&nbsp; 225 | 226680 |
| 5.84%, 01/18/28 | &nbsp;&nbsp; 210 | 214767 |
| 6.07%, 07/12/28 | &nbsp;&nbsp; 210 | 217082 |
| Nuveen LLC, 4.00%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 255 | 248382 |
| Oaktree Strategic Credit Fund |  |  |
| 6.50%, 07/23/29<sup>(c)</sup> | &nbsp;&nbsp; 105 | 104540 |
| 8.40%, 11/14/28 | &nbsp;&nbsp; 110 | 117872 |
| OneMain Finance Corp. |  |  |
| 3.50%, 01/15/27 | &nbsp;&nbsp; 255 | 243339 |
| 3.88%, 09/15/28 | &nbsp;&nbsp; 180 | 166155 |
| 6.63%, 01/15/28 | &nbsp;&nbsp; 235 | 238507 |
| 6.63%, 05/15/29 | &nbsp;&nbsp; 70 | 70000 |
| 7.13%, 03/15/26 | &nbsp;&nbsp; 470 | 481515 |
| 9.00%, 01/15/29 | &nbsp;&nbsp; 250 | 264562 |
| ORIX Corp. |  |  |
| 3.70%, 07/18/27<sup>(c)</sup> | &nbsp;&nbsp; 100 | 97037 |
| 4.65%, 09/10/29 | &nbsp;&nbsp; 100 | 98687 |
| 5.00%, 09/13/27<sup>(c)</sup> | &nbsp;&nbsp; 265 | 265870 |
| Osaic Holdings Inc., 10.75%, 08/01/27<sup>(b)</sup> | &nbsp;&nbsp; 120 | 123834 |
| Oxford Finance LLC/Oxford Finance Co-Issuer <br> II Inc., 6.38%, 02/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 130 | 128133 |
| PennyMac Financial Services Inc. |  |  |
| 4.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 186665 |
| 5.38%, 10/15/25<sup>(b)</sup> | &nbsp;&nbsp; 235 | 234041 |
| PHH Escrow Issuer LLC, 9.88%, 11/01/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 122502 |
| PHH Mortgage Corp., 7.88%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 95 | 96926 |
| Pioneer Reward Ltd., 2.00%, 04/09/26<sup>(d)</sup> | &nbsp;&nbsp; 800 | 768434 |
| Power Finance Corp. Ltd. |  |  |
| 3.90%, 09/16/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188301 |
| 4.50%, 06/18/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193884 |
| 6.15%, 12/06/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206677 |
| PRA Group Inc., 8.38%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 126 | 129654 |
| Radian Group Inc. |  |  |
| 4.88%, 03/15/27 | &nbsp;&nbsp; 271 | 269006 |
| 6.20%, 05/15/29 | &nbsp;&nbsp; 150 | 153858 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| REC Ltd. |  |  |
| 2.75%, 01/13/27<sup>(d)</sup> | &nbsp;&nbsp; $200 | $190204 |
| 3.88%, 07/07/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 387403 |
| 4.75%, 09/27/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195360 |
| Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer Inc.<br>|  |  |
| 2.88%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 390 | 371419 |
| 3.63%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 207365 |
| Shenwan Hongyuan International Finance Ltd., <br> 1.80%, 07/14/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189791 |
| Shinhan Card Co. Ltd., 2.50%, 01/27/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189718 |
| Shriram Finance Ltd. |  |  |
| 6.15%, 04/03/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 198887 |
| 6.63%, 04/22/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202041 |
| SLM Corp. |  |  |
| 3.13%, 11/02/26 | &nbsp;&nbsp; 175 | 165728 |
| 4.20%, 10/29/25 | &nbsp;&nbsp; 155 | 152111 |
| Sumitomo Mitsui Finance & Leasing Co. Ltd., <br> 5.11%, 01/23/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 200120 |
| SURA Asset Management SA, 4.38%, 04/11/27<sup>(d)</sup> | &nbsp;&nbsp; 150 | 147281 |
| Synchrony Financial |  |  |
| 3.70%, 08/04/26 | &nbsp;&nbsp; 165 | 160947 |
| 3.95%, 12/01/27 | &nbsp;&nbsp; 105 | 100851 |
| 5.15%, 03/19/29 | &nbsp;&nbsp; 145 | 142732 |
| 5.94%, 08/02/30, <br> (1-day SOFR Index + 2.130%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 202846 |
| United Wholesale Mortgage LLC |  |  |
| 5.50%, 11/15/25<sup>(b)</sup> | &nbsp;&nbsp; 240 | 239026 |
| 5.50%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 190667 |
| 5.75%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 172080 |
| USAA Capital Corp., 5.25%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 152320 |
| Visa Inc. |  |  |
| 0.75%, 08/15/27 | &nbsp;&nbsp; 165 | 150199 |
| 1.90%, 04/15/27 | &nbsp;&nbsp; 480 | 452910 |
| 2.75%, 09/15/27 | &nbsp;&nbsp; 40 | 38427 |
| 3.15%, 12/14/25 | &nbsp;&nbsp; 1317 | 1298870 |
| Voya Financial Inc. |  |  |
| 3.65%, 06/15/26 | &nbsp;&nbsp; 135 | 132490 |
| 4.70%, 01/23/48, (3-mo. LIBOR US + 2.084%)<sup>(a)</sup> | &nbsp;&nbsp; 70 | 64105 |
| Western Union Co. (The), 1.35%, 03/15/26 | &nbsp;&nbsp; 260 | 247255 |
| World Acceptance Corp., 7.00%, 11/01/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 105 | 103960 |
| XP Inc., 6.75%, 07/02/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200749 |
|  |  | 75526616 |
| **Electric — 1.8%** | **Electric — 1.8%** | **Electric — 1.8%** |
| Abu Dhabi National Energy Co. PJSC |  |  |
| 2.00%, 04/29/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 182546 |
| 4.38%, 06/22/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 397222 |
| 4.38%, 01/24/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197175 |
| Adani Transmission Step-One Ltd., 4.00%, <br> 08/03/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192888 |
| AEP Texas Inc. |  |  |
| 3.95%, 06/01/28 | &nbsp;&nbsp; 35 | 33956 |
| 5.45%, 05/15/29 | &nbsp;&nbsp; 150 | 153080 |
| AES Andes SA, 6.30%, 03/15/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203768 |
| AES Corp. (The) |  |  |
| 1.38%, 01/15/26 | &nbsp;&nbsp; 317 | 303614 |
| 5.45%, 06/01/28 | &nbsp;&nbsp; 295 | 297681 |
| Alabama Power Co., 3.75%, 09/01/27 | &nbsp;&nbsp; 585 | 574763 |
| Alexander Funding Trust II, 7.47%, 07/31/28<sup>(b)</sup> | &nbsp;&nbsp; 220 | 232792 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Algonquin Power & Utilities Corp. |  |  |
| 4.75%, 01/18/82, (5-year CMT + 3.249%)<sup>(a)</sup> | &nbsp;&nbsp; $245 | $229030 |
| 5.37%, 06/15/26<sup>(g)</sup> | &nbsp;&nbsp; 300 | 301707 |
| Alliant Energy Finance LLC |  |  |
| 5.40%, 06/06/27<sup>(b)</sup> | &nbsp;&nbsp; 90 | 90960 |
| 5.95%, 03/30/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 180982 |
| Ameren Corp. |  |  |
| 1.75%, 03/15/28 | &nbsp;&nbsp; 35 | 31662 |
| 1.95%, 03/15/27 | &nbsp;&nbsp; 275 | 257981 |
| 3.65%, 02/15/26 | &nbsp;&nbsp; 110 | 108353 |
| 5.00%, 01/15/29 | &nbsp;&nbsp; 180 | 180892 |
| 5.70%, 12/01/26 | &nbsp;&nbsp; 225 | 229021 |
| American Electric Power Co. Inc. |  |  |
| 3.20%, 11/13/27 | &nbsp;&nbsp; 65 | 62256 |
| 3.88%, 02/15/62, (5-year CMT + 2.675%)<sup>(a)</sup> | &nbsp;&nbsp; 264 | 249142 |
| 5.20%, 01/15/29 | &nbsp;&nbsp; 275 | 278623 |
| 5.75%, 11/01/27 | &nbsp;&nbsp; 535 | 550588 |
| Series J, 4.30%, 12/01/28 | &nbsp;&nbsp; 140 | 137451 |
| Series N, 1.00%, 11/01/25 | &nbsp;&nbsp; 130 | 125194 |
| Appalachian Power Co., Series X, 3.30%, 06/01/27 | &nbsp;&nbsp; 5 | 4821 |
| Arizona Public Service Co., 2.95%, 09/15/27 | &nbsp;&nbsp; 25 | 23725 |
| Atlantic City Electric Co., 4.00%, 10/15/28 | &nbsp;&nbsp; 10 | 9757 |
| Ausgrid Finance Pty Ltd., 4.35%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 15 | 14599 |
| Avangrid Inc., 3.80%, 06/01/29 | &nbsp;&nbsp; 250 | 238619 |
| Aydem Yenilenebilir Enerji A/S, 7.75%, 02/02/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198340 |
| Baltimore Gas & Electric Co., 2.40%, 08/15/26 | &nbsp;&nbsp; 50 | 48208 |
| Berkshire Hathaway Energy Co., 3.25%, 04/15/28 | &nbsp;&nbsp; 25 | 23914 |
| Black Hills Corp. |  |  |
| 3.05%, 10/15/29 | &nbsp;&nbsp; 100 | 91640 |
| 3.15%, 01/15/27 | &nbsp;&nbsp; 100 | 96250 |
| 3.95%, 01/15/26 | &nbsp;&nbsp; 35 | 34562 |
| 5.95%, 03/15/28 | &nbsp;&nbsp; 210 | 216733 |
| Calpine Corp. |  |  |
| 4.50%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 380 | 366025 |
| 4.63%, 02/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 225 | 213709 |
| 5.13%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 420 | 410730 |
| 5.25%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 48 | 47761 |
| Castle Peak Power Finance Co. Ltd., 3.25%, <br> 07/25/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 193639 |
| CenterPoint Energy Houston Electric LLC |  |  |
| 5.20%, 10/01/28 | &nbsp;&nbsp; 210 | 213965 |
| Series Z, 2.40%, 09/01/26 | &nbsp;&nbsp; 137 | 131818 |
| CenterPoint Energy Inc. |  |  |
| 1.45%, 06/01/26 | &nbsp;&nbsp; 230 | 218466 |
| 5.25%, 08/10/26 | &nbsp;&nbsp; 125 | 125944 |
| 5.40%, 06/01/29 | &nbsp;&nbsp; 150 | 152653 |
| Central International Development BVI Ltd., 5.10%, <br> 08/19/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 200897 |
| CGNPC International Ltd., 3.75%, 12/11/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195067 |
| Chile Electricity PEC SpA, 0.00%, 01/25/28<sup>(d)(j)</sup> | &nbsp;&nbsp; 197 | 164835 |
| China Clean Energy Development Ltd., 4.00%, <br> 11/05/25<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 395917 |
| China Huaneng Group Hong Kong Treasury <br> Management Holding Ltd.<br>|  |  |
| 1.60%, 01/20/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192533 |
| 3.08%, (5-year CMT + 5.651%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 196007 |
| 5.30%, (3-year CMT + 3.775%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 203555 |
| China Southern Power Grid International Finance <br> BVI Co. Ltd., 3.50%, 05/08/27<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 390426 |
| Cikarang Listrindo Tbk PT, 4.95%, 09/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197867 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Clearway Energy Operating LLC, 4.75%, <br> 03/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; $280 | $271627 |
| Cleco Corporate Holdings LLC, 3.74%, 05/01/26 | &nbsp;&nbsp; 36 | 35232 |
| Cleveland Electric Illuminating Co. (The), 3.50%, <br> 04/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 550 | 521704 |
| CLP Power Hong Kong Financing Ltd., 3.38%, <br> 10/26/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 193702 |
| CMS Energy Corp. |  |  |
| 3.00%, 05/15/26 | &nbsp;&nbsp; 80 | 77702 |
| 3.45%, 08/15/27 | &nbsp;&nbsp; 240 | 232105 |
| Colbun SA, 3.95%, 10/11/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193443 |
| Comision Federal de Electricidad |  |  |
| 4.69%, 05/15/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190504 |
| 4.75%, 02/23/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196477 |
| Commonwealth Edison Co. |  |  |
| 2.55%, 06/15/26 | &nbsp;&nbsp; 150 | 145275 |
| 3.70%, 08/15/28 | &nbsp;&nbsp; 210 | 202849 |
| Series 122, 2.95%, 08/15/27 | &nbsp;&nbsp; 5 | 4805 |
| Connecticut Light and Power Co. (The) |  |  |
| 4.65%, 01/01/29 | &nbsp;&nbsp; 130 | 129821 |
| Series A, 0.75%, 12/01/25 | &nbsp;&nbsp; 47 | 45021 |
| Series A, 3.20%, 03/15/27 | &nbsp;&nbsp; 175 | 169809 |
| Consolidated Edison Co. of New York Inc. |  |  |
| Series B, 3.13%, 11/15/27 | &nbsp;&nbsp; 120 | 115198 |
| Series D, 4.00%, 12/01/28 | &nbsp;&nbsp; 100 | 97699 |
| Constellation Energy Generation LLC, 5.60%, <br> 03/01/28<br>| &nbsp;&nbsp; 250 | 256509 |
| Consumers Energy Co. |  |  |
| 4.60%, 05/30/29 | &nbsp;&nbsp; 200 | 199585 |
| 4.65%, 03/01/28 | &nbsp;&nbsp; 220 | 220575 |
| 4.90%, 02/15/29 | &nbsp;&nbsp; 160 | 161513 |
| Dominion Energy Inc. |  |  |
| 4.25%, 06/01/28 | &nbsp;&nbsp; 305 | 300541 |
| Series A, 1.45%, 04/15/26 | &nbsp;&nbsp; 230 | 219282 |
| Series B, 3.60%, 03/15/27 | &nbsp;&nbsp; 20 | 19558 |
| Series D, 2.85%, 08/15/26 | &nbsp;&nbsp; 145 | 140189 |
| DPL Inc., 4.35%, 04/15/29 | &nbsp;&nbsp; 125 | 117221 |
| DTE Electric Co., 4.85%, 12/01/26 | &nbsp;&nbsp; 95 | 95871 |
| DTE Energy Co. |  |  |
| 2.85%, 10/01/26 | &nbsp;&nbsp; 70 | 67650 |
| 4.88%, 06/01/28 | &nbsp;&nbsp; 580 | 580822 |
| 4.95%, 07/01/27 | &nbsp;&nbsp; 225 | 226233 |
| 5.10%, 03/01/29 | &nbsp;&nbsp; 280 | 282220 |
| Series C, 3.40%, 06/15/29 | &nbsp;&nbsp; 145 | 135834 |
| Duke Energy Carolinas LLC |  |  |
| 2.45%, 08/15/29 | &nbsp;&nbsp; 100 | 90595 |
| 2.95%, 12/01/26 | &nbsp;&nbsp; 60 | 58217 |
| 3.95%, 11/15/28 | &nbsp;&nbsp; 55 | 53646 |
| Series A, 6.00%, 12/01/28 | &nbsp;&nbsp; 5 | 5243 |
| Duke Energy Corp. |  |  |
| 2.65%, 09/01/26 | &nbsp;&nbsp; 195 | 188193 |
| 3.15%, 08/15/27 | &nbsp;&nbsp; 50 | 47981 |
| 3.25%, 01/15/82, (5-year CMT + 2.321%)<sup>(a)</sup> | &nbsp;&nbsp; 204 | 188847 |
| 3.40%, 06/15/29 | &nbsp;&nbsp; 150 | 140991 |
| 4.30%, 03/15/28 | &nbsp;&nbsp; 560 | 552035 |
| 4.85%, 01/05/27 | &nbsp;&nbsp; 125 | 125589 |
| 4.85%, 01/05/29 | &nbsp;&nbsp; 130 | 130031 |
| 5.00%, 12/08/25 | &nbsp;&nbsp; 235 | 235519 |
| 5.00%, 12/08/27 | &nbsp;&nbsp; 495 | 498650 |
| Duke Energy Florida LLC |  |  |
| 3.20%, 01/15/27 | &nbsp;&nbsp; 240 | 233498 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 3.80%, 07/15/28 | &nbsp;&nbsp; $150 | $146120 |
| Duke Energy Ohio Inc., 3.65%, 02/01/29 | &nbsp;&nbsp; 210 | 201687 |
| Duke Energy Progress LLC |  |  |
| 3.45%, 03/15/29 | &nbsp;&nbsp; 150 | 143170 |
| 3.70%, 09/01/28 | &nbsp;&nbsp; 15 | 14518 |
| Duquesne Light Holdings Inc., 3.62%, 08/01/27<sup>(b)</sup> | &nbsp;&nbsp; 5 | 4829 |
| Edison International |  |  |
| 5.25%, 11/15/28 | &nbsp;&nbsp; 205 | 206511 |
| 5.45%, 06/15/29 | &nbsp;&nbsp; 145 | 147464 |
| 5.75%, 06/15/27 | &nbsp;&nbsp; 20 | 20405 |
| 7.88%, 06/15/54, (5-year CMT + 3.658%)<sup>(a)</sup> | &nbsp;&nbsp; 125 | 130705 |
| 8.13%, 06/15/53, (5-year CMT + 3.864%)<sup>(a)</sup> | &nbsp;&nbsp; 175 | 183791 |
| EDP Finance BV, 1.71%, 01/24/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 181573 |
| Electricite de France SA |  |  |
| 4.50%, 09/21/28<sup>(b)</sup> | &nbsp;&nbsp; 580 | 570587 |
| 5.65%, 04/22/29<sup>(b)</sup> | &nbsp;&nbsp; 435 | 446498 |
| 5.70%, 05/23/28<sup>(b)</sup> | &nbsp;&nbsp; 700 | 717065 |
| Emera U.S. Finance LP, 3.55%, 06/15/26 | &nbsp;&nbsp; 225 | 219834 |
| Empresas Publicas de Medellin ESP, 4.25%, <br> 07/18/29<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 351209 |
| Enel Americas SA, 4.00%, 10/25/26 | &nbsp;&nbsp; 244 | 239265 |
| Enel Chile SA, 4.88%, 06/12/28 | &nbsp;&nbsp; 520 | 514556 |
| Enel Finance America LLC, 7.10%, 10/14/27<sup>(b)</sup> | &nbsp;&nbsp; 385 | 407153 |
| Enel Finance International NV |  |  |
| 1.63%, 07/12/26<sup>(b)</sup> | &nbsp;&nbsp; 410 | 388534 |
| 2.13%, 07/12/28<sup>(b)</sup> | &nbsp;&nbsp; 215 | 194927 |
| 3.50%, 04/06/28<sup>(b)</sup> | &nbsp;&nbsp; 310 | 296196 |
| 3.63%, 05/25/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 242127 |
| 4.63%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 248310 |
| 4.88%, 06/14/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200748 |
| 5.13%, 06/26/29<sup>(b)</sup> | &nbsp;&nbsp; 405 | 406953 |
| Engie SA, 5.25%, 04/10/29<sup>(b)</sup> | &nbsp;&nbsp; 240 | 243197 |
| Entergy Arkansas LLC, 4.00%, 06/01/28 | &nbsp;&nbsp; 5 | 4883 |
| Entergy Corp. |  |  |
| 1.90%, 06/15/28 | &nbsp;&nbsp; 100 | 90386 |
| 2.95%, 09/01/26 | &nbsp;&nbsp; 285 | 276063 |
| Entergy Louisiana LLC |  |  |
| 2.40%, 10/01/26 | &nbsp;&nbsp; 175 | 168286 |
| 3.12%, 09/01/27 | &nbsp;&nbsp; 160 | 154153 |
| 3.25%, 04/01/28 | &nbsp;&nbsp; 50 | 47759 |
| Eskom Holdings SOC Ltd. |  |  |
| 4.31%, 07/23/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190919 |
| 6.35%, 08/10/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199765 |
| 8.45%, 08/10/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 208804 |
| Evergy Inc., 2.90%, 09/15/29 | &nbsp;&nbsp; 200 | 182376 |
| Evergy Kansas Central Inc., 2.55%, 07/01/26 | &nbsp;&nbsp; 35 | 33851 |
| Evergy Missouri West Inc., 5.15%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 245 | 246789 |
| Eversource Energy |  |  |
| 2.90%, 03/01/27 | &nbsp;&nbsp; 213 | 204144 |
| 4.60%, 07/01/27 | &nbsp;&nbsp; 350 | 348454 |
| 4.75%, 05/15/26 | &nbsp;&nbsp; 135 | 134950 |
| 5.00%, 01/01/27 | &nbsp;&nbsp; 160 | 160837 |
| 5.45%, 03/01/28 | &nbsp;&nbsp; 460 | 469202 |
| 5.95%, 02/01/29 | &nbsp;&nbsp; 245 | 254284 |
| Series M, 3.30%, 01/15/28 | &nbsp;&nbsp; 10 | 9526 |
| Series O, 4.25%, 04/01/29 | &nbsp;&nbsp; 150 | 146164 |
| Series U, 1.40%, 08/15/26 | &nbsp;&nbsp; 150 | 141303 |
| Exelon Corp. |  |  |
| 2.75%, 03/15/27 | &nbsp;&nbsp; 350 | 334913 |
| 3.40%, 04/15/26 | &nbsp;&nbsp; 411 | 403264 |
| 5.15%, 03/15/28 | &nbsp;&nbsp; 265 | 267849 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 5.15%, 03/15/29 | &nbsp;&nbsp; $200 | $202578 |
| Fells Point Funding Trust, 3.05%, 01/31/27<sup>(b)</sup> | &nbsp;&nbsp; 152 | 145773 |
| FirstEnergy Corp. |  |  |
| Series A, 1.60%, 01/15/26 | &nbsp;&nbsp; 110 | 105419 |
| Series B, 3.90%, 07/15/27 | &nbsp;&nbsp; 512 | 499767 |
| FirstEnergy Pennsylvania Electric Co. |  |  |
| 4.30%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 146376 |
| 5.20%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 60 | 60390 |
| Florida Power & Light Co. |  |  |
| 3.13%, 12/01/25 | &nbsp;&nbsp; 65 | 64036 |
| 4.40%, 05/15/28 | &nbsp;&nbsp; 185 | 183965 |
| 4.45%, 05/15/26 | &nbsp;&nbsp; 137 | 137127 |
| 5.05%, 04/01/28 | &nbsp;&nbsp; 525 | 532192 |
| 5.15%, 06/15/29 | &nbsp;&nbsp; 245 | 249807 |
| Series A, 3.30%, 05/30/27 | &nbsp;&nbsp; 38 | 36854 |
| Fortis Inc./Canada, 3.06%, 10/04/26 | &nbsp;&nbsp; 367 | 355258 |
| Georgia Power Co. |  |  |
| 3.25%, 04/01/26 | &nbsp;&nbsp; 25 | 24531 |
| 3.25%, 03/30/27 | &nbsp;&nbsp; 45 | 43672 |
| 4.65%, 05/16/28 | &nbsp;&nbsp; 525 | 525506 |
| 5.00%, 02/23/27 | &nbsp;&nbsp; 50 | 50547 |
| Series B, 2.65%, 09/15/29 | &nbsp;&nbsp; 200 | 182341 |
| Hongkong Electric Finance Ltd., 2.88%, 05/03/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194451 |
| Interstate Power & Light Co. |  |  |
| 3.60%, 04/01/29 | &nbsp;&nbsp; 100 | 95239 |
| 4.10%, 09/26/28 | &nbsp;&nbsp; 215 | 209774 |
| Investment Energy Resources Ltd., 6.25%, <br> 04/26/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 193120 |
| Israel Electric Corp. Ltd., 4.25%, 08/14/28<sup>(b)</sup> | &nbsp;&nbsp; 400 | 377626 |
| ITC Holdings Corp. |  |  |
| 3.25%, 06/30/26 | &nbsp;&nbsp; 80 | 77965 |
| 3.35%, 11/15/27 | &nbsp;&nbsp; 20 | 19212 |
| 4.95%, 09/22/27<sup>(b)</sup> | &nbsp;&nbsp; 505 | 505986 |
| JERA Co. Inc., 3.67%, 04/14/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193969 |
| Jersey Central Power & Light Co., 4.30%, <br> 01/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 155 | 153587 |
| Kallpa Generacion SA |  |  |
| 4.13%, 08/16/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194171 |
| 4.88%, 05/24/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198215 |
| Korea Midland Power Co. Ltd., 1.25%, 08/09/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 187726 |
| Korea Southern Power Co. Ltd., 0.75%, 01/27/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190152 |
| Leeward Renewable Energy Operations LLC, <br> 4.25%, 07/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 100 | 93465 |
| Liberty Utilities Co., 5.58%, 01/31/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 101081 |
| Mazoon Assets Co. SAOC |  |  |
| 5.20%, 11/08/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199529 |
| 5.50%, 02/14/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202110 |
| MidAmerican Energy Co. |  |  |
| 3.10%, 05/01/27 | &nbsp;&nbsp; 35 | 33907 |
| 3.65%, 04/15/29 | &nbsp;&nbsp; 290 | 278454 |
| Mid-Atlantic Interstate Transmission LLC, 4.10%, <br> 05/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 45 | 43822 |
| Mong Duong Finance Holdings BV, 5.13%, <br> 05/07/29<sup>(d)</sup><br>| &nbsp;&nbsp; 211 | 205140 |
| Monongahela Power Co., 3.55%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 115 | 111382 |
| MVM Energetika Zrt, 7.50%, 06/09/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 210656 |
| National Central Cooling Co. PJSC, 2.50%, <br> 10/21/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 185858 |
| National Grid PLC, 5.60%, 06/12/28 | &nbsp;&nbsp; 225 | 230410 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 1.00%, 06/15/26 | &nbsp;&nbsp; 320 | 302507 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 3.05%, 04/25/27 | &nbsp;&nbsp; $60 | $57829 |
| 3.25%, 11/01/25 | &nbsp;&nbsp; 30 | 29593 |
| 3.40%, 02/07/28 | &nbsp;&nbsp; 300 | 288890 |
| 3.70%, 03/15/29 | &nbsp;&nbsp; 150 | 143894 |
| 3.90%, 11/01/28 | &nbsp;&nbsp; 100 | 97049 |
| 4.12%, 09/16/27 | &nbsp;&nbsp; 90 | 89068 |
| 4.45%, 03/13/26 | &nbsp;&nbsp; 160 | 159664 |
| 4.80%, 02/05/27 | &nbsp;&nbsp; 160 | 161074 |
| 4.80%, 03/15/28 | &nbsp;&nbsp; 330 | 331972 |
| 4.85%, 02/07/29 | &nbsp;&nbsp; 165 | 166172 |
| 5.05%, 09/15/28 | &nbsp;&nbsp; 240 | 243348 |
| 5.10%, 05/06/27 | &nbsp;&nbsp; 75 | 75916 |
| 5.15%, 06/15/29 | &nbsp;&nbsp; 125 | 127108 |
| 5.25%, 04/20/46, (3-mo. LIBOR US + 3.630%)<sup>(a)</sup> | &nbsp;&nbsp; 30 | 29671 |
| 5.60%, 11/13/26 | &nbsp;&nbsp; 100 | 101921 |
| 7.13%, 09/15/53, (5-year CMT + 3.533%)<sup>(a)</sup> | &nbsp;&nbsp; 20 | 20802 |
| Nevada Power Co., Series CC, 3.70%, 05/01/29 | &nbsp;&nbsp; 150 | 143698 |
| New York State Electric & Gas Corp. |  |  |
| 3.25%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 100 | 96443 |
| 5.65%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 17 | 17398 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 1.88%, 01/15/27 | &nbsp;&nbsp; 573 | 538981 |
| 1.90%, 06/15/28 | &nbsp;&nbsp; 450 | 407242 |
| 3.50%, 04/01/29<sup>(c)</sup> | &nbsp;&nbsp; 150 | 142059 |
| 3.55%, 05/01/27 | &nbsp;&nbsp; 615 | 599330 |
| 3.80%, 03/15/82, (5-year CMT + 2.547%)<sup>(a)</sup> | &nbsp;&nbsp; 55 | 52297 |
| 4.63%, 07/15/27 | &nbsp;&nbsp; 665 | 665028 |
| 4.80%, 12/01/77, (3-mo. LIBOR US + 2.409%)<sup>(a)</sup> | &nbsp;&nbsp; 10 | 9570 |
| 4.90%, 02/28/28 | &nbsp;&nbsp; 870 | 873701 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 320 | 321265 |
| 4.95%, 01/29/26 | &nbsp;&nbsp; 300 | 300990 |
| 5.65%, 05/01/79, (3-mo. LIBOR US + 3.156%)<sup>(a)</sup> | &nbsp;&nbsp; 100 | 98916 |
| 6.70%, 09/01/54, (5-year CMT + 2.364%)<sup>(a)</sup> | &nbsp;&nbsp; 225 | 230894 |
| NextEra Energy Operating Partners LP |  |  |
| 3.88%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 165 | 159154 |
| 4.50%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 185 | 177595 |
| 7.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 245 | 252122 |
| Niagara Mohawk Power Corp., 4.28%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 193895 |
| NRG Energy Inc. |  |  |
| 2.00%, 12/02/25<sup>(b)</sup> | &nbsp;&nbsp; 275 | 264770 |
| 2.45%, 12/02/27<sup>(b)</sup> | &nbsp;&nbsp; 265 | 244892 |
| 3.38%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 136987 |
| 4.45%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 96025 |
| 5.25%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 219898 |
| 5.75%, 01/15/28 | &nbsp;&nbsp; 225 | 225320 |
| 5.75%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 240 | 237036 |
| NSTAR Electric Co. |  |  |
| 3.20%, 05/15/27 | &nbsp;&nbsp; 5 | 4836 |
| 3.25%, 05/15/29 | &nbsp;&nbsp; 100 | 94301 |
| NTPC Ltd., 4.25%, 02/26/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198181 |
| OGE Energy Corp., 5.45%, 05/15/29 | &nbsp;&nbsp; 110 | 112274 |
| Oncor Electric Delivery Co. LLC |  |  |
| 3.70%, 11/15/28 | &nbsp;&nbsp; 125 | 121038 |
| 4.30%, 05/15/28 | &nbsp;&nbsp; 200 | 198302 |
| Pacific Gas and Electric Co. |  |  |
| 2.10%, 08/01/27 | &nbsp;&nbsp; 300 | 278764 |
| 2.95%, 03/01/26 | &nbsp;&nbsp; 237 | 230575 |
| 3.00%, 06/15/28 | &nbsp;&nbsp; 475 | 444757 |
| 3.15%, 01/01/26 | &nbsp;&nbsp; 587 | 574222 |
| 3.30%, 03/15/27 | &nbsp;&nbsp; 35 | 33682 |
| 3.30%, 12/01/27 | &nbsp;&nbsp; 135 | 128616 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 3.75%, 07/01/28 | &nbsp;&nbsp; $450 | $431888 |
| 4.20%, 03/01/29 | &nbsp;&nbsp; 130 | 125681 |
| 5.45%, 06/15/27 | &nbsp;&nbsp; 130 | 131672 |
| 5.55%, 05/15/29 | &nbsp;&nbsp; 220 | 224040 |
| 6.10%, 01/15/29 | &nbsp;&nbsp; 325 | 337412 |
| PacifiCorp |  |  |
| 3.50%, 06/15/29 | &nbsp;&nbsp; 100 | 94608 |
| 5.10%, 02/15/29 | &nbsp;&nbsp; 180 | 182057 |
| Palomino Funding Trust I, 7.23%, 05/17/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 263139 |
| Pattern Energy Operations LP/Pattern Energy <br> Operations Inc., 4.50%, 08/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 235 | 223261 |
| Pertamina Geothermal Energy PT, 5.15%, <br> 04/27/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 199842 |
| Perusahaan Perseroan Persero PT Perusahaan <br> Listrik Negara<br>|  |  |
| 4.13%, 05/15/27<sup>(d)</sup> | &nbsp;&nbsp; 600 | 590426 |
| 5.38%, 01/25/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202913 |
| 5.45%, 05/21/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202866 |
| PG&E Corp., 5.00%, 07/01/28 | &nbsp;&nbsp; 325 | 317785 |
| Pike Corp., 5.50%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 244774 |
| PPL Capital Funding Inc., 3.10%, 05/15/26 | &nbsp;&nbsp; 142 | 138302 |
| Public Service Co. of Colorado, 3.70%, 06/15/28 | &nbsp;&nbsp; 50 | 48385 |
| Public Service Electric & Gas Co. |  |  |
| 0.95%, 03/15/26 | &nbsp;&nbsp; 89 | 84630 |
| 2.25%, 09/15/26 | &nbsp;&nbsp; 40 | 38435 |
| 3.00%, 05/15/27 | &nbsp;&nbsp; 40 | 38553 |
| 3.20%, 05/15/29 | &nbsp;&nbsp; 100 | 94197 |
| 3.70%, 05/01/28 | &nbsp;&nbsp; 100 | 96973 |
| Public Service Enterprise Group Inc. |  |  |
| 5.20%, 04/01/29 | &nbsp;&nbsp; 250 | 253610 |
| 5.85%, 11/15/27 | &nbsp;&nbsp; 245 | 252495 |
| 5.88%, 10/15/28 | &nbsp;&nbsp; 225 | 233432 |
| Puget Energy Inc., 2.38%, 06/15/28 | &nbsp;&nbsp; 120 | 109000 |
| ReNew Wind Energy AP2/ReNew Power Pvt Ltd. <br> other 9 Subsidiaries, 4.50%, 07/14/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 186343 |
| Rochester Gas and Electric Corp., 3.10%, <br> 06/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 190 | 181555 |
| San Diego Gas & Electric Co. |  |  |
| 2.50%, 05/15/26 | &nbsp;&nbsp; 5 | 4854 |
| 4.95%, 08/15/28 | &nbsp;&nbsp; 155 | 156566 |
| San Miguel Global Power Holdings Corp., 8.75%, <br> (5-year CMT + 7.732%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 208479 |
| Saudi Electricity Global Sukuk Co. 4, 4.72%, <br> 09/27/28<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 400012 |
| Saudi Electricity Sukuk Programme Co., 4.94%, <br> 02/13/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 201155 |
| Sempra |  |  |
| 3.25%, 06/15/27 | &nbsp;&nbsp; 60 | 57643 |
| 3.40%, 02/01/28 | &nbsp;&nbsp; 63 | 60248 |
| 3.70%, 04/01/29 | &nbsp;&nbsp; 85 | 80752 |
| 4.13%, 04/01/52, (5-year CMT + 2.868%)<sup>(a)</sup> | &nbsp;&nbsp; 418 | 396482 |
| 5.40%, 08/01/26 | &nbsp;&nbsp; 195 | 196999 |
| Sierra Pacific Power Co., 2.60%, 05/01/26 | &nbsp;&nbsp; 15 | 14574 |
| SMC Global Power Holdings Corp., 5.70%, <br> (5-year CMT + 6.554%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 400 | 391326 |
| Southern California Edison Co. |  |  |
| 2.85%, 08/01/29 | &nbsp;&nbsp; 180 | 165518 |
| 4.40%, 09/06/26 | &nbsp;&nbsp; 95 | 94681 |
| 4.88%, 02/01/27 | &nbsp;&nbsp; 160 | 161216 |
| 4.90%, 06/01/26 | &nbsp;&nbsp; 120 | 120603 |
| 5.15%, 06/01/29 | &nbsp;&nbsp; 150 | 152295 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 5.30%, 03/01/28 | &nbsp;&nbsp; $700 | $712435 |
| 5.35%, 03/01/26 | &nbsp;&nbsp; 195 | 196765 |
| 5.65%, 10/01/28 | &nbsp;&nbsp; 125 | 128898 |
| 5.85%, 11/01/27 | &nbsp;&nbsp; 280 | 289378 |
| Series 2020-C, 1.20%, 02/01/26 | &nbsp;&nbsp; 205 | 196478 |
| Series A, 4.20%, 03/01/29 | &nbsp;&nbsp; 190 | 185686 |
| Series B, 3.65%, 03/01/28 | &nbsp;&nbsp; 105 | 101360 |
| Series D, 4.70%, 06/01/27 | &nbsp;&nbsp; 195 | 195284 |
| Southern Co. (The) |  |  |
| 3.25%, 07/01/26 | &nbsp;&nbsp; 590 | 576956 |
| 4.85%, 06/15/28 | &nbsp;&nbsp; 285 | 287226 |
| 5.11%, 08/01/27 | &nbsp;&nbsp; 20 | 20134 |
| 5.50%, 03/15/29 | &nbsp;&nbsp; 150 | 154217 |
| Series 21-A, 3.75%, 09/15/51, <br> (5-year CMT + 2.915%)<sup>(a)</sup><br>| &nbsp;&nbsp; 354 | 340618 |
| Series 21-B, 1.75%, 03/15/28 | &nbsp;&nbsp; 30 | 27214 |
| Series B, 4.00%, 01/15/51, <br> (5-year CMT + 3.733%)<sup>(a)</sup><br>| &nbsp;&nbsp; 331 | 323869 |
| Southern Power Co. |  |  |
| 0.90%, 01/15/26 | &nbsp;&nbsp; 210 | 200408 |
| 4.15%, 12/01/25 | &nbsp;&nbsp; 150 | 148746 |
| Southwestern Electric Power Co. |  |  |
| Series K, 2.75%, 10/01/26 | &nbsp;&nbsp; 52 | 50084 |
| Series M, 4.10%, 09/15/28 | &nbsp;&nbsp; 310 | 302064 |
| Series N, 1.65%, 03/15/26 | &nbsp;&nbsp; 387 | 371258 |
| SP Group Treasury Pte. Ltd., 3.38%, 02/27/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 238279 |
| SP PowerAssets Ltd. |  |  |
| 3.00%, 09/26/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 192342 |
| 3.25%, 11/24/25<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196964 |
| State Grid Europe Development PLC, 3.25%, <br> 04/07/27<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 389075 |
| State Grid Overseas Investment BVI Ltd. |  |  |
| 1.13%, 09/08/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 187658 |
| 2.88%, 05/18/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 584318 |
| 3.50%, 05/04/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 390911 |
| System Energy Resources Inc., 6.00%, 04/15/28 | &nbsp;&nbsp; 448 | 461983 |
| Tampa Electric Co., 4.90%, 03/01/29 | &nbsp;&nbsp; 110 | 109951 |
| Terraform Global Operating LP, 6.13%, 03/01/26<sup>(b)</sup> | &nbsp;&nbsp; 113 | 113025 |
| Three Gorges Finance I Cayman Islands Ltd., <br> 3.15%, 06/02/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 391453 |
| TNB Global Ventures Capital Bhd |  |  |
| 3.24%, 10/19/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 387374 |
| 4.85%, 11/01/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199918 |
| Transelec SA, 3.88%, 01/12/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 190611 |
| Trinidad Generation UnLtd, 5.25%, 11/04/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195632 |
| Union Electric Co. |  |  |
| 2.95%, 06/15/27 | &nbsp;&nbsp; 80 | 76709 |
| 3.50%, 03/15/29 | &nbsp;&nbsp; 175 | 166979 |
| Virginia Electric & Power Co. |  |  |
| Series A, 2.88%, 07/15/29 | &nbsp;&nbsp; 25 | 23072 |
| Series A, 3.15%, 01/15/26 | &nbsp;&nbsp; 290 | 285119 |
| Series A, 3.50%, 03/15/27 | &nbsp;&nbsp; 275 | 268340 |
| Series A, 3.80%, 04/01/28 | &nbsp;&nbsp; 15 | 14613 |
| Series B, 2.95%, 11/15/26 | &nbsp;&nbsp; 50 | 48521 |
| Series B, 3.75%, 05/15/27 | &nbsp;&nbsp; 275 | 269584 |
| Vistra Operations Co. LLC |  |  |
| 3.70%, 01/30/27<sup>(b)</sup> | &nbsp;&nbsp; 372 | 361398 |
| 4.30%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 105 | 100587 |
| 4.38%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 375 | 357274 |
| 5.00%, 07/31/27<sup>(b)</sup> | &nbsp;&nbsp; 410 | 404844 |
| 5.50%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 300 | 299566 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 5.63%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; $385 | $383984 |
| WEC Energy Group Inc. |  |  |
| 1.38%, 10/15/27 | &nbsp;&nbsp; 3 | 2733 |
| 4.75%, 01/09/26 | &nbsp;&nbsp; 415 | 415341 |
| 4.75%, 01/15/28<sup>(c)</sup> | &nbsp;&nbsp; 340 | 341141 |
| 5.15%, 10/01/27 | &nbsp;&nbsp; 270 | 273883 |
| 5.60%, 09/12/26 | &nbsp;&nbsp; 135 | 137080 |
| Wisconsin Electric Power Co., 5.00%, 05/15/29 | &nbsp;&nbsp; 75 | 76164 |
| Wisconsin Power and Light Co., 3.00%, 07/01/29 | &nbsp;&nbsp; 95 | 88220 |
| Wisconsin Public Service Corp., 5.35%, 11/10/25 | &nbsp;&nbsp; 110 | 110852 |
| Xcel Energy Inc. |  |  |
| 1.75%, 03/15/27 | &nbsp;&nbsp; 345 | 322156 |
| 3.35%, 12/01/26 | &nbsp;&nbsp; 85 | 82567 |
| 4.00%, 06/15/28 | &nbsp;&nbsp; 105 | 101936 |
| Zhejiang Energy International Ltd., 1.74%, <br> 07/20/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 188901 |
|  |  | 73555267 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| Emerson Electric Co. |  |  |
| 0.88%, 10/15/26 | &nbsp;&nbsp; 190 | 178001 |
| 2.00%, 12/21/28 | &nbsp;&nbsp; 255 | 230559 |
| Energizer Holdings Inc. |  |  |
| 4.38%, 03/31/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 186901 |
| 4.75%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 192434 |
| 6.50%, 12/31/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 125 | 126435 |
| EnerSys, 4.38%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 105 | 101322 |
| WESCO Distribution Inc. |  |  |
| 6.38%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 280 | 285596 |
| 7.25%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 400 | 409309 |
|  |  | 1710557 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| Allegion PLC, 3.50%, 10/01/29 | &nbsp;&nbsp; 100 | 93624 |
| Allegion U.S. Holding Co. Inc., 3.55%, 10/01/27 | &nbsp;&nbsp; 100 | 96488 |
| Amphenol Corp. |  |  |
| 4.35%, 06/01/29 | &nbsp;&nbsp; 150 | 147698 |
| 4.75%, 03/30/26 | &nbsp;&nbsp; 25 | 25040 |
| 5.05%, 04/05/27 | &nbsp;&nbsp; 140 | 141458 |
| 5.05%, 04/05/29 | &nbsp;&nbsp; 160 | 161636 |
| Arrow Electronics Inc. |  |  |
| 3.88%, 01/12/28 | &nbsp;&nbsp; 200 | 193010 |
| 5.15%, 08/21/29 | &nbsp;&nbsp; 125 | 124363 |
| Avnet Inc. |  |  |
| 4.63%, 04/15/26 | &nbsp;&nbsp; 237 | 235356 |
| 6.25%, 03/15/28 | &nbsp;&nbsp; 217 | 223969 |
| Competition Team Technologies Ltd., 4.25%, <br> 03/12/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 194244 |
| Flex Ltd. |  |  |
| 3.75%, 02/01/26 | &nbsp;&nbsp; 290 | 285324 |
| 4.88%, 06/15/29 | &nbsp;&nbsp; 155 | 152808 |
| 6.00%, 01/15/28 | &nbsp;&nbsp; 150 | 153642 |
| Fortive Corp., 3.15%, 06/15/26 | &nbsp;&nbsp; 265 | 258066 |
| Honeywell International Inc. |  |  |
| 1.10%, 03/01/27 | &nbsp;&nbsp; 555 | 515199 |
| 2.50%, 11/01/26 | &nbsp;&nbsp; 135 | 130252 |
| 2.70%, 08/15/29 | &nbsp;&nbsp; 200 | 184478 |
| 4.25%, 01/15/29 | &nbsp;&nbsp; 250 | 248356 |
| 4.65%, 07/30/27 | &nbsp;&nbsp; 225 | 226269 |
| 4.88%, 09/01/29 | &nbsp;&nbsp; 150 | 151794 |
| 4.95%, 02/15/28 | &nbsp;&nbsp; 311 | 316800 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| Hubbell Inc. |  |  |
| 3.15%, 08/15/27 | &nbsp;&nbsp; $90 | $86304 |
| 3.35%, 03/01/26 | &nbsp;&nbsp; 60 | 58821 |
| 3.50%, 02/15/28 | &nbsp;&nbsp; 105 | 100965 |
| Imola Merger Corp., 4.75%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 600 | 583467 |
| Jabil Inc. |  |  |
| 1.70%, 04/15/26 | &nbsp;&nbsp; 185 | 176400 |
| 3.95%, 01/12/28 | &nbsp;&nbsp; 85 | 82366 |
| 4.25%, 05/15/27 | &nbsp;&nbsp; 242 | 238191 |
| 5.45%, 02/01/29 | &nbsp;&nbsp; 50 | 50617 |
| Keysight Technologies Inc. |  |  |
| 3.00%, 10/30/29 | &nbsp;&nbsp; 150 | 137007 |
| 4.60%, 04/06/27 | &nbsp;&nbsp; 10 | 9997 |
| Sensata Technologies BV, 4.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 280331 |
| TD SYNNEX Corp. |  |  |
| 1.75%, 08/09/26 | &nbsp;&nbsp; 260 | 246070 |
| 2.38%, 08/09/28 | &nbsp;&nbsp; 110 | 100038 |
| Trimble Inc., 4.90%, 06/15/28 | &nbsp;&nbsp; 160 | 159984 |
| TTM Technologies Inc., 4.00%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 140211 |
| Tyco Electronics Group SA |  |  |
| 3.13%, 08/15/27 | &nbsp;&nbsp; 125 | 120481 |
| 3.70%, 02/15/26 | &nbsp;&nbsp; 110 | 108511 |
| 4.50%, 02/13/26 | &nbsp;&nbsp; 240 | 239679 |
| Vontier Corp. |  |  |
| 1.80%, 04/01/26 | &nbsp;&nbsp; 225 | 214766 |
| 2.40%, 04/01/28 | &nbsp;&nbsp; 150 | 135982 |
|  |  | 7530062 |
| **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** |
| Contemporary Ruiding Development Ltd., 1.50%, <br> 09/09/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 187590 |
| Greenko Dutch BV, 3.85%, 03/29/26<sup>(d)</sup> | &nbsp;&nbsp; 358 | 344529 |
| Greenko Power II Ltd., 4.30%, 12/13/28<sup>(d)</sup> | &nbsp;&nbsp; 174 | 161878 |
| Greenko Solar Mauritius Ltd., 5.95%, 07/29/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198667 |
| Hanwha Q Cells Americas Holdings Corp., 5.00%, <br> 07/27/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 200584 |
| Masdar Abu Dhabi Future Energy Co., 4.88%, <br> 07/25/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 199535 |
| SK Battery America Inc. |  |  |
| 2.13%, 01/26/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191251 |
| 4.88%, 01/23/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200022 |
| Sunnova Energy Corp. |  |  |
| 5.88%, 09/01/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 135 | 121557 |
| 11.75%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 106211 |
| TerraForm Power Operating LLC, 5.00%, <br> 01/31/28<sup>(b)</sup><br>| &nbsp;&nbsp; 260 | 254123 |
|  |  | 2165947 |
| **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** |
| AECOM, 5.13%, 03/15/27 | &nbsp;&nbsp; 305 | 303134 |
| Arcosa Inc., 4.38%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 117805 |
| BCEG HongKong Co. Ltd., 2.22%, 07/02/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 380007 |
| Brundage-Bone Concrete Pumping Holdings Inc., <br> 6.00%, 02/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 155 | 154251 |
| CCCI Treasure Ltd., 3.65%, <br> (5-year CMT + 5.117%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 194545 |
| China Railway Xunjie Co. Ltd. |  |  |
| 3.25%, 07/28/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 389612 |
| 4.00%, 07/06/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196500 |
| China State Construction Finance Cayman I Ltd., <br> 3.40%, (5-year CMT + 5.581%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 193747 |
| CRCC Hean Ltd., 1.88%, 05/20/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191097 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Engineering & Construction (continued)** | **Engineering & Construction (continued)** | **Engineering & Construction (continued)** |
| Delhi International Airport Ltd. |  |  |
| 6.13%, 10/31/26<sup>(d)</sup> | &nbsp;&nbsp; $200 | $201551 |
| 6.45%, 06/04/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205528 |
| Dianjian Haiyu Ltd., 4.30%, 09/10/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197894 |
| Dycom Industries Inc., 4.50%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 152 | 143397 |
| Fluor Corp., 4.25%, 09/15/28 | &nbsp;&nbsp; 190 | 182578 |
| Global Infrastructure Solutions Inc., 5.63%, <br> 06/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 120 | 117002 |
| Great Lakes Dredge & Dock Corp., 5.25%, <br> 06/01/29<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 100 | 93891 |
| Hongkong International Qingdao Co. Ltd., 5.75%, <br> 09/12/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 201409 |
| HTA Group Ltd/Mauritius, 7.50%, 06/04/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203666 |
| IHS Holding Ltd., 5.63%, 11/29/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196152 |
| IHS Netherlands Holdco BV, 8.00%, 09/18/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199498 |
| INNOVATE Corp., 8.50%, 02/01/26<sup>(b)</sup> | &nbsp;&nbsp; 110 | 89725 |
| Jacobs Engineering Group Inc., 6.35%, 08/18/28 | &nbsp;&nbsp; 220 | 229327 |
| Lendlease U.S. Capital Inc., 4.50%, 05/26/26<sup>(d)</sup> | &nbsp;&nbsp; 250 | 245999 |
| MasTec Inc. |  |  |
| 4.50%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 95 | 91782 |
| 5.90%, 06/15/29 | &nbsp;&nbsp; 180 | 184078 |
| Mexico City Airport Trust, 4.25%, 10/31/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195830 |
| Powerchina Roadbridge Group British Virgin Islands <br> Ltd., 3.08%, (5-year CMT + 5.256%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 195133 |
| Railworks Holdings LP/Railworks Rally Inc., 8.25%, <br> 11/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 100 | 102525 |
| Ste Transcore Holdings Inc. |  |  |
| 3.38%, 05/05/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 194493 |
| 4.13%, 05/23/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198206 |
| Sydney Airport Finance Co. Pty. Ltd., 3.63%, <br> 04/28/26<sup>(b)</sup><br>| &nbsp;&nbsp; 350 | 343655 |
| Taizhou Urban Construction and Investment <br> Development Group Co. Ltd., 5.45%, 07/11/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 200093 |
| TopBuild Corp., 3.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 114488 |
| Tutor Perini Corp., 11.88%, 04/30/29<sup>(b)</sup> | &nbsp;&nbsp; 80 | 87381 |
| Vinci SA, 3.75%, 04/10/29<sup>(b)</sup> | &nbsp;&nbsp; 305 | 291562 |
| Weekley Homes LLC/Weekley Finance Corp., <br> 4.88%, 09/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 135 | 129118 |
| Xingcheng Bvi Ltd., 2.38%, 10/08/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 187236 |
|  |  | 7143895 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| Affinity Interactive, 6.88%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 179 | 146751 |
| Allwyn Entertainment Financing U.K. PLC, 7.88%, <br> 04/30/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 207282 |
| AMC Entertainment Holdings Inc. |  |  |
| 7.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 237402 |
| 10.00%, 06/15/26, <br> (10.00% Cash or 12.00% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 290 | 291026 |
| Banijay Entertainment SASU, 8.13%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 130 | 134734 |
| Boyne USA Inc., 4.75%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 190584 |
| Caesars Entertainment Inc. |  |  |
| 4.63%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 328038 |
| 8.13%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 169 | 172410 |
| CCM Merger Inc., 6.38%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 100 | 99692 |
| Cedar Fair LP/Canada's Wonderland Co./Magnum <br> Management Corp./Millennium Op<br>|  |  |
| 5.25%, 07/15/29 | &nbsp;&nbsp; 100 | 96319 |
| 5.38%, 04/15/27 | &nbsp;&nbsp; 185 | 183278 |
| Churchill Downs Inc. |  |  |
| 4.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 245 | 237622 |
| 5.50%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 180 | 178860 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Cinemark USA Inc., 5.25%, 07/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; $255 | $250376 |
| Empire Resorts Inc., 7.75%, 11/01/26<sup>(b)</sup> | &nbsp;&nbsp; 105 | 100195 |
| Flutter Treasury Designated Activity Co., 6.38%, <br> 04/29/29<sup>(b)</sup><br>| &nbsp;&nbsp; 210 | 214905 |
| Great Canadian Gaming Corp., 8.75%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 55 | 55000 |
| International Game Technology PLC |  |  |
| 4.13%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 246477 |
| 5.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196293 |
| 6.25%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 240 | 242398 |
| Jacobs Entertainment Inc., 6.75%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 147609 |
| Light & Wonder International Inc., 7.00%, <br> 05/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 250 | 251097 |
| Lions Gate Capital Holdings 1 Inc., 5.50%, <br> 04/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 125 | 110375 |
| Live Nation Entertainment Inc. |  |  |
| 3.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 142227 |
| 4.75%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 315 | 306375 |
| 5.63%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 100 | 99682 |
| 6.50%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 375 | 380102 |
| Merlin Entertainments Ltd., 5.75%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 150 | 147856 |
| Midwest Gaming Borrower LLC/Midwest Gaming <br> Finance Corp., 4.88%, 05/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 212518 |
| Mohegan Tribal Gaming Authority |  |  |
| 8.00%, 02/01/26<sup>(b)</sup> | &nbsp;&nbsp; 364 | 361657 |
| 13.25%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 170064 |
| Motion Bondco DAC, 6.63%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 145 | 136860 |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 120 | 126356 |
| Penn Entertainment Inc. |  |  |
| 4.13%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 110 | 98699 |
| 5.63%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 135 | 132534 |
| Premier Entertainment Sub LLC/Premier <br> Entertainment Finance Corp., 5.63%, 09/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 220 | 155435 |
| Raptor Acquisition Corp./Raptor Co-Issuer LLC, <br> 4.88%, 11/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 145 | 143519 |
| Resorts World Las Vegas LLC/RWLV Capital Inc., <br> 4.63%, 04/16/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 176369 |
| SeaWorld Parks & Entertainment Inc., 5.25%, <br> 08/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 216224 |
| Six Flags Entertainment Corp./DE, 5.50%, <br> 04/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 160 | 158950 |
| Speedway Motorsports LLC/Speedway Funding <br> II Inc., 4.88%, 11/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 146650 |
| Warnermedia Holdings Inc. |  |  |
| 3.76%, 03/15/27 | &nbsp;&nbsp; 1279 | 1231434 |
| 4.05%, 03/15/29 | &nbsp;&nbsp; 370 | 345681 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital <br> Corp., 5.13%, 10/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 194169 |
|  |  | 9402084 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| Clean Harbors Inc., 4.88%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 197037 |
| Enviri Corp., 5.75%, 07/31/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 160 | 154137 |
| GFL Environmental Inc. |  |  |
| 3.50%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 234361 |
| 4.00%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 236247 |
| 4.38%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 140561 |
| 4.75%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 215002 |
| 5.13%, 12/15/26<sup>(b)</sup> | &nbsp;&nbsp; 155 | 153635 |
| Madison IAQ LLC |  |  |
| 4.13%, 06/30/28<sup>(b)</sup> | &nbsp;&nbsp; 230 | 217756 |
| 5.88%, 06/30/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 284464 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control (continued)** | **Environmental Control (continued)** | **Environmental Control (continued)** |
| Republic Services Inc. |  |  |
| 0.88%, 11/15/25 | &nbsp;&nbsp; $290 | $278707 |
| 2.90%, 07/01/26 | &nbsp;&nbsp; 20 | 19481 |
| 3.38%, 11/15/27 | &nbsp;&nbsp; 60 | 57984 |
| 3.95%, 05/15/28 | &nbsp;&nbsp; 275 | 268716 |
| 4.88%, 04/01/29 | &nbsp;&nbsp; 215 | 216141 |
| Stericycle Inc., 3.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 173060 |
| Veralto Corp. |  |  |
| 5.35%, 09/18/28 | &nbsp;&nbsp; 265 | 269823 |
| 5.50%, 09/18/26 | &nbsp;&nbsp; 285 | 288822 |
| Waste Connections Inc. |  |  |
| 3.50%, 05/01/29 | &nbsp;&nbsp; 150 | 142805 |
| 4.25%, 12/01/28 | &nbsp;&nbsp; 110 | 108196 |
| Waste Management Inc. |  |  |
| 0.75%, 11/15/25 | &nbsp;&nbsp; 350 | 336349 |
| 1.15%, 03/15/28 | &nbsp;&nbsp; 50 | 44709 |
| 2.00%, 06/01/29 | &nbsp;&nbsp; 90 | 80521 |
| 3.15%, 11/15/27 | &nbsp;&nbsp; 125 | 120195 |
| 4.50%, 03/15/28 | &nbsp;&nbsp; 300 | 299490 |
| 4.88%, 02/15/29 | &nbsp;&nbsp; 290 | 293159 |
| 4.95%, 07/03/27 | &nbsp;&nbsp; 145 | 146515 |
| Waste Pro USA Inc., 5.50%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 190 | 189515 |
|  |  | 5167388 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| Ahold Finance USA LLC, 6.88%, 05/01/29 | &nbsp;&nbsp; 100 | 107668 |
| Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| 3.25%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 237 | 228952 |
| 3.50%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 207988 |
| 4.63%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 455 | 446020 |
| 5.88%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 250421 |
| 6.50%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 254294 |
| 7.50%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 201 | 203464 |
| Alsea SAB de CV, 7.75%, 12/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202488 |
| Aragvi Finance International DAC, 8.45%, <br> 04/29/26<sup>(d)</sup><br>| &nbsp;&nbsp; 50 | 49795 |
| B&G Foods Inc. |  |  |
| 5.25%, 09/15/27<sup>(c)</sup> | &nbsp;&nbsp; 175 | 169777 |
| 8.00%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 212990 |
| Bimbo Bakeries USA Inc., 6.05%, 01/15/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206048 |
| C&S Group Enterprises LLC, 5.00%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 135 | 112154 |
| Campbell Soup Co. |  |  |
| 4.15%, 03/15/28 | &nbsp;&nbsp; 465 | 456267 |
| 5.20%, 03/19/27 | &nbsp;&nbsp; 150 | 152154 |
| 5.20%, 03/21/29 | &nbsp;&nbsp; 150 | 152016 |
| 5.30%, 03/20/26 | &nbsp;&nbsp; 125 | 125935 |
| Cencosud SA, 4.38%, 07/17/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 389937 |
| China Modern Dairy Holdings Ltd., 2.13%, <br> 07/14/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 378168 |
| Chobani Holdco II LLC, 8.75%, 10/01/29, <br> (8.75% cash and 9.5% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 200 | 206362 |
| Chobani LLC/Chobani Finance Corp. Inc. |  |  |
| 4.63%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 120034 |
| 7.63%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 156358 |
| Conagra Brands Inc. |  |  |
| 1.38%, 11/01/27 | &nbsp;&nbsp; 415 | 375572 |
| 4.60%, 11/01/25 | &nbsp;&nbsp; 279 | 278221 |
| 4.85%, 11/01/28 | &nbsp;&nbsp; 340 | 338756 |
| 5.30%, 10/01/26 | &nbsp;&nbsp; 175 | 176763 |
| 7.00%, 10/01/28 | &nbsp;&nbsp; 93 | 99491 |
| Danone SA, 2.95%, 11/02/26<sup>(b)</sup> | &nbsp;&nbsp; 695 | 672283 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| General Mills Inc. |  |  |
| 3.20%, 02/10/27 | &nbsp;&nbsp; $215 | $208173 |
| 4.20%, 04/17/28 | &nbsp;&nbsp; 345 | 339074 |
| 4.70%, 01/30/27 | &nbsp;&nbsp; 150 | 150113 |
| 5.24%, 11/18/25<sup>(c)</sup> | &nbsp;&nbsp; 15 | 14978 |
| 5.50%, 10/17/28 | &nbsp;&nbsp; 205 | 210442 |
| Hershey Co. (The) |  |  |
| 2.30%, 08/15/26 | &nbsp;&nbsp; 30 | 28922 |
| 4.25%, 05/04/28 | &nbsp;&nbsp; 45 | 44789 |
| H-Food Holdings LLC/Hearthside Finance Co. Inc., <br> 8.50%, 06/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 120 | 8860 |
| Hormel Foods Corp. |  |  |
| 1.70%, 06/03/28 | &nbsp;&nbsp; 20 | 18109 |
| 4.80%, 03/30/27 | &nbsp;&nbsp; 130 | 131021 |
| Ingredion Inc., 3.20%, 10/01/26 | &nbsp;&nbsp; 35 | 33999 |
| J.M. Smucker Co. (The), 5.90%, 11/15/28 | &nbsp;&nbsp; 280 | 292067 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL<br>|  |  |
| 2.50%, 01/15/27 | &nbsp;&nbsp; 380 | 360297 |
| 3.00%, 02/02/29 | &nbsp;&nbsp; 100 | 91613 |
| 5.13%, 02/01/28 | &nbsp;&nbsp; 310 | 309245 |
| KeHE Distributors LLC/KeHE Finance <br> Corp./NextWave Distribution Inc., 9.00%, <br> 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 290 | 300500 |
| Kellanova |  |  |
| 3.25%, 04/01/26 | &nbsp;&nbsp; 215 | 210668 |
| 3.40%, 11/15/27 | &nbsp;&nbsp; 120 | 115749 |
| 4.30%, 05/15/28 | &nbsp;&nbsp; 305 | 301537 |
| Kraft Heinz Foods Co. |  |  |
| 3.00%, 06/01/26 | &nbsp;&nbsp; 533 | 518866 |
| 3.88%, 05/15/27 | &nbsp;&nbsp; 512 | 502033 |
| 4.63%, 01/30/29 | &nbsp;&nbsp; 55 | 54933 |
| Kroger Co. (The) |  |  |
| 2.65%, 10/15/26 | &nbsp;&nbsp; 335 | 322236 |
| 3.50%, 02/01/26 | &nbsp;&nbsp; 150 | 147856 |
| 3.70%, 08/01/27 | &nbsp;&nbsp; 10 | 9759 |
| 4.50%, 01/15/29 | &nbsp;&nbsp; 185 | 183239 |
| 4.60%, 08/15/27 | &nbsp;&nbsp; 200 | 200292 |
| 4.65%, 09/15/29 | &nbsp;&nbsp; 475 | 475014 |
| 4.70%, 08/15/26 | &nbsp;&nbsp; 145 | 145437 |
| Lamb Weston Holdings Inc., 4.88%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195854 |
| Land O'Lakes Capital Trust I, 7.45%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 65 | 63975 |
| Mars Inc. |  |  |
| 0.88%, 07/16/26<sup>(b)</sup> | &nbsp;&nbsp; 185 | 173555 |
| 4.55%, 04/20/28<sup>(b)</sup> | &nbsp;&nbsp; 330 | 328213 |
| McCormick & Co. Inc./MD |  |  |
| 0.90%, 02/15/26 | &nbsp;&nbsp; 335 | 318921 |
| 3.40%, 08/15/27 | &nbsp;&nbsp; 139 | 134541 |
| Mondelez International Holdings Netherlands BV, <br> 1.25%, 09/24/26<sup>(b)</sup><br>| &nbsp;&nbsp; 205 | 192069 |
| Mondelez International Inc. |  |  |
| 2.63%, 03/17/27 | &nbsp;&nbsp; 252 | 240977 |
| 4.75%, 02/20/29 | &nbsp;&nbsp; 155 | 155409 |
| NBM U.S. Holdings Inc., 7.00%, 05/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201448 |
| Nestle Capital Corp., 4.65%, 03/12/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150277 |
| Nestle Holdings Inc. |  |  |
| 0.63%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 330 | 315144 |
| 1.00%, 09/15/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 390 | 353938 |
| 1.15%, 01/14/27<sup>(b)</sup> | &nbsp;&nbsp; 260 | 241656 |
| 1.50%, 09/14/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 183364 |
| 3.63%, 09/24/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | 290046 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| 4.13%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; $275 | $273191 |
| 5.00%, 03/14/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 207767 |
| 5.00%, 09/12/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 152100 |
| 5.25%, 03/13/26<sup>(b)</sup> | &nbsp;&nbsp; 205 | 207254 |
| Performance Food Group Inc. |  |  |
| 4.25%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 280738 |
| 5.50%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 325 | 322548 |
| Post Holdings Inc., 5.63%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 112 | 112984 |
| Sigma Holdco BV, 7.88%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 100 | 99107 |
| Simmons Foods Inc./Simmons Prepared <br> Foods Inc./Simmons Pet Food Inc./Simmons <br> Feed, 4.63%, 03/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 260 | 241128 |
| Smithfield Foods Inc. |  |  |
| 4.25%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 252 | 246255 |
| 5.20%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 115 | 112663 |
| Sysco Corp. |  |  |
| 3.25%, 07/15/27 | &nbsp;&nbsp; 107 | 103101 |
| 3.30%, 07/15/26 | &nbsp;&nbsp; 512 | 500212 |
| 5.75%, 01/17/29 | &nbsp;&nbsp; 130 | 134587 |
| TreeHouse Foods Inc., 4.00%, 09/01/28 | &nbsp;&nbsp; 160 | 145226 |
| Tyson Foods Inc. |  |  |
| 3.55%, 06/02/27 | &nbsp;&nbsp; 316 | 306666 |
| 4.00%, 03/01/26 | &nbsp;&nbsp; 427 | 422331 |
| 4.35%, 03/01/29 | &nbsp;&nbsp; 265 | 258329 |
| 5.40%, 03/15/29 | &nbsp;&nbsp; 150 | 152517 |
| U.S. Foods Inc. |  |  |
| 4.75%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 305 | 293922 |
| 6.88%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 180185 |
| United Natural Foods Inc., 6.75%, 10/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 160 | 154492 |
| Yili Holding Investment Ltd., 1.63%, 11/19/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192835 |
|  |  | 21099722 |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| Aramark Services Inc., 5.00%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 385 | 378176 |
| TKC Holdings Inc. |  |  |
| 6.88%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 155 | 152589 |
| 10.50%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202024 |
|  |  | 732789 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| Ahlstrom Holding 3 OY, 4.88%, 02/04/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 94655 |
| Celulosa Arauco y Constitucion SA |  |  |
| 3.88%, 11/02/27 | &nbsp;&nbsp; 205 | 196653 |
| 4.25%, 04/30/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189113 |
| Domtar Corp., 6.75%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 182969 |
| Georgia-Pacific LLC |  |  |
| 0.95%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 75 | 70955 |
| 2.10%, 04/30/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 175 | 165103 |
| Inversiones CMPC SA, 4.38%, 04/04/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196691 |
| Mercer International Inc. |  |  |
| 5.13%, 02/01/29 | &nbsp;&nbsp; 264 | 227886 |
| 5.50%, 01/15/26 | &nbsp;&nbsp; 96 | 96000 |
| 12.88%, 10/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 93 | 98525 |
| Suzano Austria GmbH |  |  |
| 2.50%, 09/15/28 | &nbsp;&nbsp; 145 | 130935 |
| 5.75%, 07/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202068 |
| 6.00%, 01/15/29 | &nbsp;&nbsp; 510 | 516377 |
| Suzano International Finance BV, 5.50%, 01/17/27 | &nbsp;&nbsp; 298 | 300216 |
|  |  | 2668146 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |
| 5.75%, 05/20/27 | &nbsp;&nbsp; 175 | 168735 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Gas (continued)** | **Gas (continued)** | **Gas (continued)** |
| 5.88%, 08/20/26 | &nbsp;&nbsp; $205 | $200753 |
| 9.38%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 174893 |
| APA Infrastructure Ltd., 4.25%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 280 | 275899 |
| Atmos Energy Corp., 3.00%, 06/15/27 | &nbsp;&nbsp; 105 | 100963 |
| Boston Gas Co. |  |  |
| 3.00%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 136453 |
| 3.15%, 08/01/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 65 | 61833 |
| Brooklyn Union Gas Co. (The) |  |  |
| 3.41%, 03/10/26<sup>(b)</sup> | &nbsp;&nbsp; 265 | 259358 |
| 3.87%, 03/04/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 95045 |
| 4.63%, 08/05/27<sup>(b)</sup> | &nbsp;&nbsp; 188 | 185880 |
| CenterPoint Energy Resources Corp. |  |  |
| 4.00%, 04/01/28 | &nbsp;&nbsp; 85 | 82903 |
| 5.25%, 03/01/28 | &nbsp;&nbsp; 340 | 345476 |
| ENN Clean Energy International Investment Ltd., <br> 3.38%, 05/12/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 194575 |
| ENN Energy Holdings Ltd., 4.63%, 05/17/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 396760 |
| KeySpan Gas East Corp., 2.74%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 285 | 274255 |
| Korea Gas Corp. |  |  |
| 1.13%, 07/13/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 376660 |
| 3.50%, 07/02/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392055 |
| National Fuel Gas Co. |  |  |
| 4.75%, 09/01/28 | &nbsp;&nbsp; 15 | 14769 |
| 5.50%, 01/15/26 | &nbsp;&nbsp; 195 | 195951 |
| 5.50%, 10/01/26 | &nbsp;&nbsp; 130 | 131545 |
| NiSource Inc. |  |  |
| 2.95%, 09/01/29 | &nbsp;&nbsp; 220 | 202042 |
| 3.49%, 05/15/27 | &nbsp;&nbsp; 235 | 228678 |
| 5.20%, 07/01/29 | &nbsp;&nbsp; 155 | 157100 |
| 5.25%, 03/30/28 | &nbsp;&nbsp; 480 | 486781 |
| ONE Gas Inc., 5.10%, 04/01/29 | &nbsp;&nbsp; 120 | 122007 |
| Piedmont Natural Gas Co. Inc., 3.50%, 06/01/29 | &nbsp;&nbsp; 180 | 170591 |
| SGSP Australia Assets Pty Ltd., 3.25%, 07/29/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194412 |
| Shaoxing City Investment Group Ltd., 2.50%, <br> 08/19/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 377653 |
| Southern California Gas Co. |  |  |
| 2.95%, 04/15/27 | &nbsp;&nbsp; 675 | 649476 |
| Series TT, 2.60%, 06/15/26 | &nbsp;&nbsp; 167 | 161865 |
| Southern Co. Gas Capital Corp., 3.25%, 06/15/26 | &nbsp;&nbsp; 285 | 278433 |
| Southwest Gas Corp. |  |  |
| 3.70%, 04/01/28 | &nbsp;&nbsp; 50 | 47984 |
| 5.45%, 03/23/28 | &nbsp;&nbsp; 65 | 65918 |
| 5.80%, 12/01/27 | &nbsp;&nbsp; 50 | 51205 |
| Spire Inc., 5.30%, 03/01/26 | &nbsp;&nbsp; 100 | 100557 |
| Talent Yield International Ltd., 2.00%, 05/06/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191322 |
|  |  | 7550785 |
| **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** |
| Kennametal Inc., 4.63%, 06/15/28 | &nbsp;&nbsp; 20 | 19726 |
| Regal Rexnord Corp. |  |  |
| 6.05%, 02/15/26 | &nbsp;&nbsp; 120 | 121212 |
| 6.05%, 04/15/28 | &nbsp;&nbsp; 405 | 414170 |
| Stanley Black & Decker Inc. |  |  |
| 3.40%, 03/01/26 | &nbsp;&nbsp; 170 | 166889 |
| 4.25%, 11/15/28 | &nbsp;&nbsp; 35 | 34334 |
| 6.00%, 03/06/28 | &nbsp;&nbsp; 205 | 212894 |
| Werner FinCo LP/Werner FinCo Inc., 11.50%, <br> 06/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 125 | 138782 |
|  |  | 1108007 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products — 0.3%** | **Health Care - Products — 0.3%** | **Health Care - Products — 0.3%** |
| Abbott Laboratories |  |  |
| 1.15%, 01/30/28 | &nbsp;&nbsp; $35 | $31633 |
| 3.75%, 11/30/26 | &nbsp;&nbsp; 520 | 514295 |
| Agilent Technologies Inc. |  |  |
| 2.75%, 09/15/29 | &nbsp;&nbsp; 155 | 141123 |
| 3.05%, 09/22/26 | &nbsp;&nbsp; 15 | 14547 |
| 4.20%, 09/09/27 | &nbsp;&nbsp; 75 | 74149 |
| Alcon Finance Corp. |  |  |
| 2.75%, 09/23/26<sup>(b)</sup> | &nbsp;&nbsp; 230 | 221518 |
| 3.00%, 09/23/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 231037 |
| Avantor Funding Inc., 4.63%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 460 | 444654 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 420 | 441332 |
| Baxter International Inc. |  |  |
| 1.92%, 02/01/27 | &nbsp;&nbsp; 547 | 513393 |
| 2.27%, 12/01/28 | &nbsp;&nbsp; 420 | 377944 |
| 2.60%, 08/15/26 | &nbsp;&nbsp; 15 | 14439 |
| Boston Scientific Corp., 4.00%, 03/01/28 | &nbsp;&nbsp; 15 | 14672 |
| Edwards Lifesciences Corp., 4.30%, 06/15/28 | &nbsp;&nbsp; 200 | 196427 |
| GE HealthCare Technologies Inc. |  |  |
| 4.80%, 08/14/29 | &nbsp;&nbsp; 265 | 264487 |
| 5.60%, 11/15/25 | &nbsp;&nbsp; 655 | 660491 |
| 5.65%, 11/15/27 | &nbsp;&nbsp; 610 | 625683 |
| Hologic Inc. |  |  |
| 3.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 275517 |
| 4.63%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 145 | 141904 |
| Medline Borrower LP |  |  |
| 3.88%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 1315 | 1230910 |
| 5.25%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 780 | 755930 |
| Medline Borrower LP/Medline Co-Issuer Inc., 6.25%, <br> 04/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 335 | 341117 |
| Medtronic Global Holdings SCA, 4.25%, 03/30/28 | &nbsp;&nbsp; 210 | 208790 |
| Olympus Corp., 2.14%, 12/08/26<sup>(b)</sup> | &nbsp;&nbsp; 50 | 47267 |
| Revvity Inc. |  |  |
| 1.90%, 09/15/28 | &nbsp;&nbsp; 150 | 134293 |
| 3.30%, 09/15/29 | &nbsp;&nbsp; 250 | 231121 |
| Solventum Corp. |  |  |
| 5.40%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 460 | 465823 |
| 5.45%, 02/25/27<sup>(b)</sup> | &nbsp;&nbsp; 215 | 217774 |
| Stryker Corp. |  |  |
| 3.38%, 11/01/25 | &nbsp;&nbsp; 411 | 406486 |
| 3.50%, 03/15/26 | &nbsp;&nbsp; 322 | 317086 |
| 3.65%, 03/07/28 | &nbsp;&nbsp; 200 | 193783 |
| 4.25%, 09/11/29 | &nbsp;&nbsp; 180 | 176428 |
| 4.85%, 12/08/28 | &nbsp;&nbsp; 140 | 140839 |
| Teleflex Inc. |  |  |
| 4.25%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 143845 |
| 4.63%, 11/15/27 | &nbsp;&nbsp; 185 | 181719 |
| Thermo Fisher Scientific Inc. |  |  |
| 1.75%, 10/15/28 | &nbsp;&nbsp; 195 | 175587 |
| 2.60%, 10/01/29 | &nbsp;&nbsp; 250 | 228098 |
| 4.80%, 11/21/27 | &nbsp;&nbsp; 344 | 347973 |
| 4.95%, 08/10/26 | &nbsp;&nbsp; 195 | 196840 |
| 5.00%, 12/05/26 | &nbsp;&nbsp; 275 | 278246 |
| 5.00%, 01/31/29<sup>(c)</sup> | &nbsp;&nbsp; 335 | 340399 |
| Varex Imaging Corp., 7.88%, 10/15/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 110 | 111786 |
| Zimmer Biomet Holdings Inc. |  |  |
| 3.05%, 01/15/26 | &nbsp;&nbsp; 157 | 153798 |
| 5.35%, 12/01/28 | &nbsp;&nbsp; 160 | 163167 |
|  |  | 12388350 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services — 0.8%** | **Health Care - Services — 0.8%** | **Health Care - Services — 0.8%** |
| Acadia Healthcare Co. Inc. |  |  |
| 5.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; $140 | $131159 |
| 5.50%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 145536 |
| Advocate Health & Hospitals Corp., 3.83%, <br> 08/15/28<br>| &nbsp;&nbsp; 5 | 4868 |
| AHP Health Partners Inc., 5.75%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 90 | 87084 |
| Catalent Pharma Solutions Inc. |  |  |
| 3.13%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 170156 |
| 5.00%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 170 | 168883 |
| Centene Corp. |  |  |
| 2.45%, 07/15/28 | &nbsp;&nbsp; 655 | 589501 |
| 4.25%, 12/15/27 | &nbsp;&nbsp; 710 | 686863 |
| Charles River Laboratories International Inc. |  |  |
| 3.75%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 160 | 146693 |
| 4.25%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 166614 |
| CHRISTUS Health, Series C, 4.34%, 07/01/28<sup>(c)</sup> | &nbsp;&nbsp; 10 | 9826 |
| CHS/Community Health Systems Inc. |  |  |
| 5.63%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 580 | 565492 |
| 6.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 188331 |
| 6.88%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 187 | 154752 |
| 6.88%, 04/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 350 | 295210 |
| 8.00%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 232 | 231420 |
| Cigna Group (The) |  |  |
| 1.25%, 03/15/26 | &nbsp;&nbsp; 185 | 176441 |
| 3.05%, 10/15/27 | &nbsp;&nbsp; 35 | 33478 |
| 3.40%, 03/01/27 | &nbsp;&nbsp; 554 | 537977 |
| 4.38%, 10/15/28 | &nbsp;&nbsp; 1090 | 1070631 |
| 4.50%, 02/25/26 | &nbsp;&nbsp; 356 | 355034 |
| 5.00%, 05/15/29 | &nbsp;&nbsp; 300 | 301236 |
| CommonSpirit Health |  |  |
| 3.35%, 10/01/29 | &nbsp;&nbsp; 300 | 279153 |
| 6.07%, 11/01/27 | &nbsp;&nbsp; 200 | 207081 |
| Elevance Health Inc. |  |  |
| 1.50%, 03/15/26 | &nbsp;&nbsp; 327 | 313225 |
| 2.88%, 09/15/29 | &nbsp;&nbsp; 245 | 223710 |
| 3.65%, 12/01/27 | &nbsp;&nbsp; 620 | 602048 |
| 4.10%, 03/01/28 | &nbsp;&nbsp; 465 | 455842 |
| 4.50%, 10/30/26 | &nbsp;&nbsp; 135 | 134774 |
| 4.90%, 02/08/26 | &nbsp;&nbsp; 195 | 194497 |
| 5.15%, 06/15/29 | &nbsp;&nbsp; 190 | 192099 |
| Encompass Health Corp., 4.50%, 02/01/28 | &nbsp;&nbsp; 265 | 257698 |
| Fresenius Medical Care U.S. Finance III Inc. |  |  |
| 1.88%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 105 | 97940 |
| 3.75%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 139557 |
| HCA Inc. |  |  |
| 3.13%, 03/15/27 | &nbsp;&nbsp; 362 | 348122 |
| 3.38%, 03/15/29 | &nbsp;&nbsp; 100 | 93701 |
| 4.13%, 06/15/29 | &nbsp;&nbsp; 600 | 577916 |
| 4.50%, 02/15/27 | &nbsp;&nbsp; 385 | 381869 |
| 5.20%, 06/01/28 | &nbsp;&nbsp; 385 | 388467 |
| 5.25%, 06/15/26 | &nbsp;&nbsp; 531 | 533049 |
| 5.38%, 09/01/26 | &nbsp;&nbsp; 364 | 365848 |
| 5.63%, 09/01/28 | &nbsp;&nbsp; 335 | 341703 |
| 5.88%, 02/15/26 | &nbsp;&nbsp; 513 | 516725 |
| 5.88%, 02/01/29 | &nbsp;&nbsp; 335 | 344333 |
| Health Care Service Corp. A Mutual Legal Reserve <br> Co., 5.20%, 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 20 | 20239 |
| HealthEquity Inc., 4.50%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 166479 |
| Heartland Dental LLC/Heartland Dental Finance <br> Corp., 10.50%, 04/30/28<sup>(b)</sup><br>| &nbsp;&nbsp; 240 | 255493 |
| Highmark Inc., 1.45%, 05/10/26<sup>(b)</sup> | &nbsp;&nbsp; 296 | 279557 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Humana Inc. |  |  |
| 1.35%, 02/03/27 | &nbsp;&nbsp; $567 | $525342 |
| 3.13%, 08/15/29 | &nbsp;&nbsp; 25 | 22945 |
| 3.70%, 03/23/29 | &nbsp;&nbsp; 250 | 237349 |
| 3.95%, 03/15/27 | &nbsp;&nbsp; 60 | 58717 |
| 5.75%, 03/01/28 | &nbsp;&nbsp; 240 | 245158 |
| 5.75%, 12/01/28 | &nbsp;&nbsp; 110 | 112801 |
| ICON Investments Six DAC |  |  |
| 5.81%, 05/08/27 | &nbsp;&nbsp; 205 | 209109 |
| 5.85%, 05/08/29 | &nbsp;&nbsp; 240 | 246279 |
| IQVIA Inc. |  |  |
| 5.00%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 305 | 301744 |
| 5.00%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 365 | 360418 |
| 5.70%, 05/15/28 | &nbsp;&nbsp; 200 | 204240 |
| 6.25%, 02/01/29 | &nbsp;&nbsp; 365 | 380346 |
| Kedrion SpA, 6.50%, 09/01/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 235029 |
| Laboratory Corp. of America Holdings |  |  |
| 1.55%, 06/01/26 | &nbsp;&nbsp; 252 | 240211 |
| 3.60%, 09/01/27 | &nbsp;&nbsp; 10 | 9735 |
| LifePoint Health Inc. |  |  |
| 4.38%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 185 | 179526 |
| 5.38%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 137180 |
| Molina Healthcare Inc., 4.38%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 280 | 268694 |
| MPH Acquisition Holdings LLC |  |  |
| 5.50%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 310 | 211678 |
| 5.75%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 290 | 131234 |
| PeaceHealth Obligated Group, Series 2020, 1.38%, <br> 11/15/25<br>| &nbsp;&nbsp; 210 | 201602 |
| Prime Healthcare Services Inc., 9.38%, 09/01/29<sup>(b)</sup> | &nbsp;&nbsp; 415 | 422057 |
| Providence St. Joseph Health Obligated Group, <br> Series 19A, 2.53%, 10/01/29<br>| &nbsp;&nbsp; 200 | 178933 |
| Quest Diagnostics Inc. |  |  |
| 3.45%, 06/01/26 | &nbsp;&nbsp; 260 | 254943 |
| 4.20%, 06/30/29 | &nbsp;&nbsp; 160 | 155778 |
| 4.60%, 12/15/27 | &nbsp;&nbsp; 85 | 85162 |
| Quorum Health Corp., 11.63%, 04/15/23<sup>(k)</sup> | &nbsp;&nbsp; 100 |  |
| Radiology Partners Inc., 7.78%, 01/31/29, <br> (4.28% Cash and 3.50% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 14 | 13867 |
| Rede D'or Finance SARL, 4.95%, 01/17/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194452 |
| Roche Holdings Inc. |  |  |
| 0.99%, 03/05/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 238912 |
| 1.93%, 12/13/28<sup>(b)</sup> | &nbsp;&nbsp; 630 | 569217 |
| 2.31%, 03/10/27<sup>(b)</sup> | &nbsp;&nbsp; 550 | 524651 |
| 2.63%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 194702 |
| 3.00%, 11/10/25<sup>(b)</sup> | &nbsp;&nbsp; 50 | 49274 |
| 3.63%, 09/17/28<sup>(b)</sup> | &nbsp;&nbsp; 50 | 48269 |
| 4.20%, 09/09/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196614 |
| 4.79%, 03/08/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201528 |
| 5.27%, 11/13/26<sup>(b)</sup> | &nbsp;&nbsp; 380 | 386136 |
| 5.34%, 11/13/28<sup>(b)</sup> | &nbsp;&nbsp; 435 | 447352 |
| Select Medical Corp., 6.25%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 365 | 365911 |
| SSM Health Care Corp., 4.89%, 06/01/28 | &nbsp;&nbsp; 177 | 177112 |
| Sutter Health, Series 2018, 3.70%, 08/15/28 | &nbsp;&nbsp; 13 | 12491 |
| Tenet Healthcare Corp. |  |  |
| 4.25%, 06/01/29 | &nbsp;&nbsp; 425 | 402234 |
| 4.63%, 06/15/28 | &nbsp;&nbsp; 175 | 169293 |
| 5.13%, 11/01/27 | &nbsp;&nbsp; 450 | 446366 |
| 6.13%, 10/01/28 | &nbsp;&nbsp; 725 | 724706 |
| 6.25%, 02/01/27 | &nbsp;&nbsp; 455 | 455259 |
| Toledo Hospital (The), Series B, 5.33%, 11/15/28 | &nbsp;&nbsp; 110 | 107063 |
| U.S. Acute Care Solutions LLC, 9.75%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 240 | 244840 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| UnitedHealth Group Inc. |  |  |
| 3.70%, 05/15/27 | &nbsp;&nbsp; $510 | $501248 |
| 1.15%, 05/15/26 | &nbsp;&nbsp; 447 | 425045 |
| 1.25%, 01/15/26 | &nbsp;&nbsp; 293 | 281801 |
| 2.88%, 08/15/29 | &nbsp;&nbsp; 300 | 277711 |
| 2.95%, 10/15/27 | &nbsp;&nbsp; 355 | 340841 |
| 3.10%, 03/15/26 | &nbsp;&nbsp; 177 | 173762 |
| 3.38%, 04/15/27 | &nbsp;&nbsp; 95 | 92526 |
| 3.45%, 01/15/27 | &nbsp;&nbsp; 253 | 247734 |
| 3.70%, 12/15/25 | &nbsp;&nbsp; 30 | 29740 |
| 3.85%, 06/15/28 | &nbsp;&nbsp; 465 | 454187 |
| 3.88%, 12/15/28 | &nbsp;&nbsp; 105 | 102315 |
| 4.00%, 05/15/29 | &nbsp;&nbsp; 250 | 243790 |
| 4.25%, 01/15/29 | &nbsp;&nbsp; 395 | 389420 |
| 4.60%, 04/15/27 | &nbsp;&nbsp; 175 | 176166 |
| 4.70%, 04/15/29 | &nbsp;&nbsp; 155 | 155612 |
| 4.75%, 07/15/26 | &nbsp;&nbsp; 155 | 155980 |
| 5.25%, 02/15/28 | &nbsp;&nbsp; 440 | 449628 |
| Universal Health Services Inc. |  |  |
| 1.65%, 09/01/26 | &nbsp;&nbsp; 285 | 268423 |
| 4.63%, 10/15/29 | &nbsp;&nbsp; 150 | 145636 |
|  |  | 30626334 |
| **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** |
| Abu Dhabi Developmental Holding Co. PJSC, <br> 5.38%, 05/08/29<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 408151 |
| Amipeace Ltd., 1.75%, 11/09/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188960 |
| Antares Holdings LP |  |  |
| 2.75%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 231974 |
| 3.95%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 241443 |
| 7.95%, 08/11/28<sup>(b)</sup> | &nbsp;&nbsp; 260 | 270790 |
| Apollo Debt Solutions BDC, 6.90%, 04/13/29<sup>(b)</sup> | &nbsp;&nbsp; 255 | 260359 |
| Ares Capital Corp. |  |  |
| 2.15%, 07/15/26 | &nbsp;&nbsp; 387 | 367225 |
| 2.88%, 06/15/27 | &nbsp;&nbsp; 85 | 79867 |
| 2.88%, 06/15/28 | &nbsp;&nbsp; 425 | 387943 |
| 3.88%, 01/15/26 | &nbsp;&nbsp; 395 | 388353 |
| 5.88%, 03/01/29 | &nbsp;&nbsp; 290 | 292069 |
| 5.95%, 07/15/29 | &nbsp;&nbsp; 245 | 247321 |
| 7.00%, 01/15/27 | &nbsp;&nbsp; 200 | 206633 |
| Ares Strategic Income Fund, 6.35%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201540 |
| Bain Capital Specialty Finance Inc. |  |  |
| 2.55%, 10/13/26 | &nbsp;&nbsp; 140 | 131891 |
| 2.95%, 03/10/26 | &nbsp;&nbsp; 157 | 151411 |
| Barings BDC Inc. |  |  |
| 3.30%, 11/23/26 | &nbsp;&nbsp; 190 | 180517 |
| 7.00%, 02/15/29 | &nbsp;&nbsp; 50 | 50988 |
| Benteler International AG, Class A, 10.50%, <br> 05/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 160 | 165775 |
| Blackstone Private Credit Fund |  |  |
| 2.63%, 12/15/26 | &nbsp;&nbsp; 422 | 397618 |
| 3.25%, 03/15/27 | &nbsp;&nbsp; 360 | 341103 |
| 4.00%, 01/15/29 | &nbsp;&nbsp; 155 | 145987 |
| 4.95%, 09/26/27<sup>(b)</sup> | &nbsp;&nbsp; 45 | 44198 |
| 5.95%, 07/16/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 175449 |
| 7.30%, 11/27/28<sup>(b)</sup> | &nbsp;&nbsp; 110 | 115380 |
| Blackstone Secured Lending Fund |  |  |
| 2.13%, 02/15/27 | &nbsp;&nbsp; 235 | 217517 |
| 2.75%, 09/16/26 | &nbsp;&nbsp; 285 | 271507 |
| 2.85%, 09/30/28 | &nbsp;&nbsp; 140 | 126455 |
| 3.63%, 01/15/26 | &nbsp;&nbsp; 355 | 347023 |
| 5.88%, 11/15/27 | &nbsp;&nbsp; 100 | 101196 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| Blue Owl Capital Corp. |  |  |
| 2.63%, 01/15/27 | &nbsp;&nbsp; $180 | $168460 |
| 2.88%, 06/11/28 | &nbsp;&nbsp; 215 | 194034 |
| 3.40%, 07/15/26 | &nbsp;&nbsp; 305 | 293810 |
| 4.25%, 01/15/26 | &nbsp;&nbsp; 239 | 235344 |
| 5.95%, 03/15/29 | &nbsp;&nbsp; 155 | 155559 |
| Blue Owl Capital Corp. II, 8.45%, 11/15/26 | &nbsp;&nbsp; 105 | 109366 |
| Blue Owl Capital Corp. III, 3.13%, 04/13/27 | &nbsp;&nbsp; 65 | 60941 |
| Blue Owl Credit Income Corp. |  |  |
| 3.13%, 09/23/26<sup>(c)</sup> | &nbsp;&nbsp; 70 | 66632 |
| 4.70%, 02/08/27 | &nbsp;&nbsp; 218 | 212590 |
| 6.60%, 09/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 110 | 111182 |
| 7.75%, 09/16/27 | &nbsp;&nbsp; 215 | 223951 |
| 7.75%, 01/15/29 | &nbsp;&nbsp; 160 | 168471 |
| 7.95%, 06/13/28 | &nbsp;&nbsp; 185 | 195124 |
| Blue Owl Technology Finance Corp. |  |  |
| 2.50%, 01/15/27 | &nbsp;&nbsp; 170 | 157490 |
| 3.75%, 06/17/26<sup>(b)</sup> | &nbsp;&nbsp; 45 | 43137 |
| 4.75%, 12/15/25<sup>(b)</sup> | &nbsp;&nbsp; 163 | 160202 |
| Blue Owl Technology Finance Corp. II, 6.75%, <br> 04/04/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 199035 |
| Bright Galaxy International Ltd., 3.25%, 07/15/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189747 |
| Ccthk 2021 Ltd., 2.75%, 01/19/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190491 |
| CITIC Ltd. |  |  |
| 2.88%, 02/17/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192220 |
| 3.70%, 06/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196498 |
| 3.88%, 02/28/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392832 |
| CK Hutchison International 19 Ltd., 3.63%, <br> 04/11/29<sup>(b)</sup><br>| &nbsp;&nbsp; 300 | 285543 |
| CK Hutchison International 21 Ltd., 1.50%, <br> 04/15/26<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 435 | 415062 |
| Compass Group Diversified Holdings LLC, 5.25%, <br> 04/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 300 | 288959 |
| Fairfax India Holdings Corp., 5.00%, 02/26/28<sup>(d)</sup> | &nbsp;&nbsp; 250 | 231706 |
| Franklin BSP Capital Corp., 7.20%, 06/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 85 | 85894 |
| FS KKR Capital Corp. |  |  |
| 2.63%, 01/15/27<sup>(c)</sup> | &nbsp;&nbsp; 30 | 28151 |
| 3.13%, 10/12/28<sup>(c)</sup> | &nbsp;&nbsp; 210 | 188928 |
| 3.25%, 07/15/27 | &nbsp;&nbsp; 250 | 235191 |
| 3.40%, 01/15/26 | &nbsp;&nbsp; 412 | 400880 |
| 6.88%, 08/15/29 | &nbsp;&nbsp; 150 | 154495 |
| 7.88%, 01/15/29 | &nbsp;&nbsp; 100 | 106138 |
| Fund of National Welfare Samruk-Kazyna JSC, <br> 2.00%, 10/28/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 187426 |
| Gaci First Investment Co. |  |  |
| 5.00%, 10/13/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 399963 |
| 5.00%, 01/29/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 398506 |
| Goldman Sachs BDC Inc. |  |  |
| 2.88%, 01/15/26 | &nbsp;&nbsp; 325 | 316448 |
| 6.38%, 03/11/27 | &nbsp;&nbsp; 105 | 107208 |
| Golub Capital BDC Inc. |  |  |
| 2.05%, 02/15/27 | &nbsp;&nbsp; 100 | 92074 |
| 2.50%, 08/24/26 | &nbsp;&nbsp; 240 | 227300 |
| 6.00%, 07/15/29 | &nbsp;&nbsp; 150 | 150212 |
| 7.05%, 12/05/28 | &nbsp;&nbsp; 140 | 145351 |
| Golub Capital Private Credit Fund, 5.80%, <br> 09/12/29<sup>(b)</sup><br>| &nbsp;&nbsp; 135 | 131632 |
| Grupo de Inversiones Suramericana SA, 5.50%, <br> 04/29/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 198024 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| HPS Corporate Lending Fund |  |  |
| 6.25%, 09/30/29<sup>(b)</sup> | &nbsp;&nbsp; $100 | $100191 |
| 6.75%, 01/30/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 152984 |
| Huarong Finance 2017 Co. Ltd. |  |  |
| 4.25%, 11/07/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192021 |
| 4.75%, 04/27/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392015 |
| Huarong Finance II Co. Ltd. |  |  |
| 4.63%, 06/03/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 393573 |
| 4.88%, 11/22/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197007 |
| 5.00%, 11/19/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198534 |
| Icahn Enterprises LP/Icahn Enterprises <br> Finance Corp.<br>|  |  |
| 4.38%, 02/01/29 | &nbsp;&nbsp; 225 | 187709 |
| 5.25%, 05/15/27 | &nbsp;&nbsp; 433 | 403312 |
| 6.25%, 05/15/26 | &nbsp;&nbsp; 385 | 378409 |
| 9.75%, 01/15/29 | &nbsp;&nbsp; 200 | 199751 |
| ICD Funding Ltd., 3.22%, 04/28/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194050 |
| Khazanah Global Sukuk Bhd, 4.69%, 06/01/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 398355 |
| Magellan Capital Holdings PLC, 8.38%, 07/08/29, <br> (1-year CMT + 4.233%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 205474 |
| Main Street Capital Corp. |  |  |
| 3.00%, 07/14/26 | &nbsp;&nbsp; 267 | 255026 |
| 6.50%, 06/04/27 | &nbsp;&nbsp; 100 | 100912 |
| 6.95%, 03/01/29 | &nbsp;&nbsp; 70 | 71680 |
| MDGH GMTN RSC Ltd. |  |  |
| 2.50%, 05/21/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 579549 |
| 3.00%, 03/28/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191648 |
| 4.50%, 11/07/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198353 |
| Morgan Stanley Direct Lending Fund |  |  |
| 4.50%, 02/11/27<sup>(c)</sup> | &nbsp;&nbsp; 95 | 93509 |
| 6.15%, 05/17/29<sup>(b)</sup> | &nbsp;&nbsp; 95 | 94524 |
| Mumtalakat Sukuk Holding Co., 4.10%, 01/21/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193681 |
| New Mountain Finance Corp. |  |  |
| 6.20%, 10/15/27 | &nbsp;&nbsp; 85 | 84031 |
| 6.88%, 02/01/29 | &nbsp;&nbsp; 80 | 79809 |
| Oaktree Specialty Lending Corp. |  |  |
| 2.70%, 01/15/27 | &nbsp;&nbsp; 110 | 102724 |
| 7.10%, 02/15/29 | &nbsp;&nbsp; 50 | 51686 |
| Prospect Capital Corp. |  |  |
| 3.36%, 11/15/26<sup>(c)</sup> | &nbsp;&nbsp; 110 | 103443 |
| 3.44%, 10/15/28<sup>(c)</sup> | &nbsp;&nbsp; 70 | 60559 |
| 3.71%, 01/22/26<sup>(c)</sup> | &nbsp;&nbsp; 190 | 184896 |
| Rongshi International Finance Ltd. |  |  |
| 1.50%, 11/05/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193220 |
| 3.63%, 05/04/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195457 |
| Senaat Sukuk Ltd., 4.76%, 12/05/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198845 |
| SFG International Holdings Co. Ltd., 2.40%, <br> 06/03/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189597 |
| Sixth Street Lending Partners, 6.50%, 03/11/29<sup>(b)</sup> | &nbsp;&nbsp; 205 | 206476 |
| Sixth Street Specialty Lending Inc. |  |  |
| 2.50%, 08/01/26 | &nbsp;&nbsp; 40 | 38018 |
| 6.13%, 03/01/29 | &nbsp;&nbsp; 50 | 50167 |
| 6.95%, 08/14/28 | &nbsp;&nbsp; 135 | 140092 |
| SMIC SG Holdings Pte Ltd., 5.38%, 07/24/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201086 |
| Suci Second Investment Co. |  |  |
| 4.38%, 09/10/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197324 |
| 6.00%, 10/25/28<sup>(d)</sup> | &nbsp;&nbsp; 800 | 830351 |
| Temasek Financial I Ltd., 3.63%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 500 | 488024 |
| Turkiye Varlik Fonu Yonetimi AS, 8.25%, 02/14/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 209833 |
| Yieldking Investment Ltd., 2.80%, 08/18/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190789 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| Zhongyuan Zhicheng Co. Ltd., 5.90%, 06/20/27<sup>(d)</sup> | &nbsp;&nbsp; $200 | $203897 |
|  |  | 25001441 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| Adams Homes Inc., 9.25%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 103 | 107544 |
| Ashton Woods USA LLC/Ashton Woods Finance Co. |  |  |
| 4.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 93450 |
| 6.63%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 90 | 89989 |
| Beazer Homes USA Inc., 5.88%, 10/15/27 | &nbsp;&nbsp; 125 | 123973 |
| Brookfield Residential Properties Inc./Brookfield <br> Residential U.S. LLC<br>|  |  |
| 5.00%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 94696 |
| 6.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 205 | 203465 |
| Century Communities Inc. |  |  |
| 3.88%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 136361 |
| 6.75%, 06/01/27 | &nbsp;&nbsp; 195 | 196175 |
| DR Horton Inc. |  |  |
| 1.30%, 10/15/26 | &nbsp;&nbsp; 327 | 307028 |
| 1.40%, 10/15/27 | &nbsp;&nbsp; 90 | 82559 |
| Dream Finders Homes Inc., 8.25%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 115 | 120305 |
| Empire Communities Corp., 9.75%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 140 | 146514 |
| Forestar Group Inc. |  |  |
| 3.85%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 120 | 116994 |
| 5.00%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 85 | 81225 |
| Installed Building Products Inc., 5.75%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 110 | 109265 |
| K Hovnanian Enterprises Inc., 11.75%, 09/30/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 137766 |
| KB Home, 6.88%, 06/15/27 | &nbsp;&nbsp; 130 | 134202 |
| Landsea Homes Corp., 8.88%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 102333 |
| Lennar Corp. |  |  |
| 4.75%, 11/29/27 | &nbsp;&nbsp; 397 | 397076 |
| 5.00%, 06/15/27 | &nbsp;&nbsp; 55 | 55322 |
| 5.25%, 06/01/26 | &nbsp;&nbsp; 210 | 211010 |
| LGI Homes Inc. |  |  |
| 4.00%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 75 | 67181 |
| 8.75%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 136881 |
| M/I Homes Inc., 4.95%, 02/01/28 | &nbsp;&nbsp; 152 | 146969 |
| Mattamy Group Corp., 5.25%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 195 | 192208 |
| Meritage Homes Corp. |  |  |
| 3.88%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 110 | 102778 |
| 5.13%, 06/06/27 | &nbsp;&nbsp; 115 | 115080 |
| New Home Co. Inc. (The), 9.25%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 75 | 78603 |
| PulteGroup Inc., 5.00%, 01/15/27 | &nbsp;&nbsp; 65 | 65189 |
| Shea Homes LP/Shea Homes Funding Corp. |  |  |
| 4.75%, 02/15/28 | &nbsp;&nbsp; 185 | 176633 |
| 4.75%, 04/01/29 | &nbsp;&nbsp; 75 | 71100 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 75 | 79684 |
| Taylor Morrison Communities Inc. |  |  |
| 5.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 174954 |
| 5.88%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 170 | 170941 |
| Thor Industries Inc., 4.00%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 136871 |
| Toll Brothers Finance Corp. |  |  |
| 4.35%, 02/15/28 | &nbsp;&nbsp; 45 | 44187 |
| 4.88%, 11/15/25 | &nbsp;&nbsp; 181 | 180857 |
| 4.88%, 03/15/27 | &nbsp;&nbsp; 244 | 243863 |
| Tri Pointe Homes Inc. |  |  |
| 5.25%, 06/01/27 | &nbsp;&nbsp; 120 | 118548 |
| 5.70%, 06/15/28 | &nbsp;&nbsp; 100 | 99372 |
| Winnebago Industries Inc., 6.25%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 90 | 89528 |
|  |  | 5538679 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| Arcelik A/S, 8.50%, 09/25/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 209404 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Furnishings (continued)** | **Home Furnishings (continued)** | **Home Furnishings (continued)** |
| Leggett & Platt Inc. |  |  |
| 3.50%, 11/15/27 | &nbsp;&nbsp; $215 | $203914 |
| 4.40%, 03/15/29 | &nbsp;&nbsp; 115 | 107984 |
| Panasonic Holdings Corp., 3.11%, 07/19/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 185594 |
| Tempur Sealy International Inc., 4.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 230231 |
| Vestel Elektronik Sanayi ve Ticaret AS, 9.75%, <br> 05/15/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 200041 |
| Whirlpool Corp., 4.75%, 02/26/29 | &nbsp;&nbsp; 200 | 197833 |
|  |  | 1335001 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |
| 1011778 BC ULC/New Red Finance Inc., 6.13%, <br> 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 350 | 355790 |
| **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** |
| ACCO Brands Corp., 4.25%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 160515 |
| Avery Dennison Corp., 4.88%, 12/06/28 | &nbsp;&nbsp; 55 | 55033 |
| Central Garden & Pet Co., 5.13%, 02/01/28 | &nbsp;&nbsp; 105 | 103390 |
| Church & Dwight Co. Inc., 3.15%, 08/01/27 | &nbsp;&nbsp; 295 | 285409 |
| Clorox Co. (The) |  |  |
| 3.10%, 10/01/27 | &nbsp;&nbsp; 75 | 71891 |
| 3.90%, 05/15/28 | &nbsp;&nbsp; 270 | 263640 |
| 4.40%, 05/01/29 | &nbsp;&nbsp; 100 | 99015 |
| Kimberly-Clark Corp. |  |  |
| 1.05%, 09/15/27 | &nbsp;&nbsp; 140 | 127399 |
| 3.20%, 04/25/29 | &nbsp;&nbsp; 260 | 246499 |
| 3.95%, 11/01/28 | &nbsp;&nbsp; 150 | 147119 |
| Reckitt Benckiser Treasury Services PLC, 3.00%, <br> 06/26/27<sup>(b)</sup><br>| &nbsp;&nbsp; 855 | 819346 |
|  |  | 2379256 |
| **Housewares — 0.0%** | **Housewares — 0.0%** | **Housewares — 0.0%** |
| CD&R Smokey Buyer, Inc./Radio Systems Corp., <br> 9.50%, 10/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 190 | 192448 |
| Newell Brands Inc. |  |  |
| 5.70%, 04/01/26 | &nbsp;&nbsp; 605 | 606444 |
| 6.38%, 09/15/27<sup>(c)</sup> | &nbsp;&nbsp; 150 | 151834 |
| 6.63%, 09/15/29<sup>(c)</sup> | &nbsp;&nbsp; 145 | 147778 |
| Scotts Miracle-Gro Co. (The) |  |  |
| 4.50%, 10/15/29 | &nbsp;&nbsp; 115 | 108603 |
| 5.25%, 12/15/26 | &nbsp;&nbsp; 95 | 94692 |
|  |  | 1301799 |
| **Insurance — 1.3%** | **Insurance — 1.3%** | **Insurance — 1.3%** |
| Acrisure LLC/Acrisure Finance Inc. |  |  |
| 4.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 211682 |
| 6.00%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 141794 |
| 8.25%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 277 | 281574 |
| 8.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 154014 |
| Aegon Ltd., 5.50%, 04/11/48, <br> (6-mo. LIBOR US + 3.540%)<sup>(a)</sup><br>| &nbsp;&nbsp; 355 | 351237 |
| Aflac Inc. |  |  |
| 1.13%, 03/15/26 | &nbsp;&nbsp; 115 | 109567 |
| 2.88%, 10/15/26 | &nbsp;&nbsp; 15 | 14535 |
| AIA Group Ltd. |  |  |
| 2.70%, (5-year CMT + 1.758%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 192644 |
| 3.60%, 04/09/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 285871 |
| 5.63%, 10/25/27<sup>(b)</sup> | &nbsp;&nbsp; 575 | 593323 |
| Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer<br>|  |  |
| 4.25%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 237147 |
| 6.75%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 380 | 378584 |
| 6.75%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 400 | 402322 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Allstate Corp. (The) |  |  |
| 0.75%, 12/15/25 | &nbsp;&nbsp; $390 | $373068 |
| 3.28%, 12/15/26 | &nbsp;&nbsp; 125 | 121655 |
| 5.05%, 06/24/29 | &nbsp;&nbsp; 125 | 126106 |
| American International Group Inc. |  |  |
| 4.20%, 04/01/28 | &nbsp;&nbsp; 205 | 200971 |
| Series A-9, 5.75%, 04/01/48, <br> (3-mo. LIBOR US + 2.868%)<sup>(a)</sup><br>| &nbsp;&nbsp; 210 | 209441 |
| American National Group Inc. |  |  |
| 5.00%, 06/15/27 | &nbsp;&nbsp; 51 | 50619 |
| 5.75%, 10/01/29 | &nbsp;&nbsp; 180 | 180536 |
| AmWINS Group Inc. |  |  |
| 4.88%, 06/30/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 211777 |
| 6.38%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 230 | 231290 |
| Aon Corp. |  |  |
| 3.75%, 05/02/29<sup>(c)</sup> | &nbsp;&nbsp; 310 | 296623 |
| 4.50%, 12/15/28 | &nbsp;&nbsp; 20 | 19814 |
| Aon Corp./Aon Global Holdings PLC, 2.85%, <br> 05/28/27<br>| &nbsp;&nbsp; 425 | 406891 |
| Aon Global Ltd., 3.88%, 12/15/25 | &nbsp;&nbsp; 295 | 292260 |
| Aon North America Inc. |  |  |
| 5.13%, 03/01/27 | &nbsp;&nbsp; 235 | 238023 |
| 5.15%, 03/01/29 | &nbsp;&nbsp; 330 | 333557 |
| APH Somerset Investor 2 LLC/APH2 Somerset <br> Investor 2 LLC/APH3 Somerset Inves, 7.88%, <br> 11/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 224765 |
| Argentum Netherlands BV for Zurich Insurance Co. <br> Ltd., 5.13%, 06/01/48, <br> (5-year CMT + 3.265%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 198709 |
| Assurant Inc., 4.90%, 03/27/28 | &nbsp;&nbsp; 120 | 119392 |
| Assured Guaranty U.S. Holdings Inc., 6.13%, <br> 09/15/28<br>| &nbsp;&nbsp; 115 | 120047 |
| AssuredPartners Inc., 5.63%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 165639 |
| Athene Global Funding |  |  |
| 1.45%, 01/08/26<sup>(b)</sup> | &nbsp;&nbsp; 300 | 287689 |
| 1.61%, 06/29/26<sup>(b)</sup> | &nbsp;&nbsp; 260 | 246114 |
| 1.73%, 10/02/26<sup>(b)</sup> | &nbsp;&nbsp; 320 | 301444 |
| 1.99%, 08/19/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 214153 |
| 2.45%, 08/20/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 5 | 4668 |
| 2.50%, 03/24/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 183618 |
| 2.72%, 01/07/29<sup>(b)</sup> | &nbsp;&nbsp; 105 | 95282 |
| 2.95%, 11/12/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 80 | 76884 |
| 4.72%, 10/08/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196352 |
| 4.86%, 08/27/26<sup>(b)</sup> | &nbsp;&nbsp; 225 | 224606 |
| 5.34%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 45 | 45284 |
| 5.35%, 07/09/27<sup>(b)</sup> | &nbsp;&nbsp; 100 | 100687 |
| 5.52%, 03/25/27<sup>(b)</sup> | &nbsp;&nbsp; 170 | 171960 |
| 5.58%, 01/09/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 355070 |
| 5.62%, 05/08/26<sup>(b)</sup> | &nbsp;&nbsp; 75 | 75677 |
| Athene Holding Ltd., 4.13%, 01/12/28 | &nbsp;&nbsp; 600 | 583469 |
| AXA SA, 5.13%, 01/17/47, <br> (1-day SOFR Index + 4.145%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 199585 |
| Axis Specialty Finance LLC, 3.90%, 07/15/29 | &nbsp;&nbsp; 55 | 52391 |
| Axis Specialty Finance PLC, 4.00%, 12/06/27 | &nbsp;&nbsp; 105 | 101923 |
| Berkshire Hathaway Finance Corp., 2.30%, <br> 03/15/27<br>| &nbsp;&nbsp; 715 | 684363 |
| Berkshire Hathaway Inc., 3.13%, 03/15/26 | &nbsp;&nbsp; 559 | 549114 |
| Brighthouse Financial Global Funding |  |  |
| 1.55%, 05/24/26<sup>(b)</sup> | &nbsp;&nbsp; 339 | 321390 |
| 2.00%, 06/28/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 88806 |
| 5.55%, 04/09/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202145 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| 5.65%, 06/10/29<sup>(b)</sup> | &nbsp;&nbsp; $125 | $126495 |
| Brighthouse Financial Inc., 3.70%, 06/22/27 | &nbsp;&nbsp; 220 | 212899 |
| BroadStreet Partners Inc., 5.88%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 214462 |
| China Life Insurance Overseas Co. Ltd./Hong Kong, <br> 5.35%, 08/15/33, (5-year CMT + 1.232%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 600 | 608436 |
| China Taiping Insurance Holdings Co. Ltd., 6.40%, <br> (5-year CMT + 2.072%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 800 | 840985 |
| Chubb INA Holdings LLC |  |  |
| 3.35%, 05/03/26 | &nbsp;&nbsp; 395 | 388118 |
| 4.65%, 08/15/29 | &nbsp;&nbsp; 200 | 200074 |
| Cincinnati Financial Corp., 6.92%, 05/15/28 | &nbsp;&nbsp; 105 | 112296 |
| Cloverie PLC for Zurich Insurance Co. Ltd., 5.63%, <br> 06/24/46, (3-mo. LIBOR US + 4.918%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 200023 |
| CNA Financial Corp. |  |  |
| 3.45%, 08/15/27 | &nbsp;&nbsp; 130 | 125739 |
| 3.90%, 05/01/29 | &nbsp;&nbsp; 105 | 101178 |
| 4.50%, 03/01/26 | &nbsp;&nbsp; 200 | 199044 |
| CNO Financial Group Inc., 5.25%, 05/30/29 | &nbsp;&nbsp; 100 | 99436 |
| CNO Global Funding |  |  |
| 1.75%, 10/07/26<sup>(b)</sup> | &nbsp;&nbsp; 300 | 282136 |
| 2.65%, 01/06/29<sup>(b)</sup> | &nbsp;&nbsp; 185 | 165740 |
| 4.95%, 09/09/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 123464 |
| 5.88%, 06/04/27<sup>(b)</sup> | &nbsp;&nbsp; 215 | 219266 |
| Corebridge Financial Inc. |  |  |
| 3.65%, 04/05/27 | &nbsp;&nbsp; 590 | 574827 |
| 3.85%, 04/05/29 | &nbsp;&nbsp; 300 | 286930 |
| 6.88%, 12/15/52, (5-year CMT + 3.846%)<sup>(a)</sup> | &nbsp;&nbsp; 355 | 363261 |
| Corebridge Global Funding |  |  |
| 4.65%, 08/20/27<sup>(b)</sup> | &nbsp;&nbsp; 95 | 94820 |
| 5.20%, 01/12/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 100667 |
| 5.20%, 06/24/29<sup>(b)</sup> | &nbsp;&nbsp; 115 | 115751 |
| 5.35%, 06/24/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 101035 |
| 5.75%, 07/02/26<sup>(b)</sup> | &nbsp;&nbsp; 240 | 244099 |
| 5.90%, 09/19/28<sup>(b)</sup> | &nbsp;&nbsp; 120 | 123909 |
| Dai-Ichi Life Insurance Co. Ltd. (The), 4.00%, <br> (3-mo. LIBOR US + 3.660%)<sup>(a)(b)(f)</sup><br>| &nbsp;&nbsp; 835 | 816979 |
| Enstar Finance LLC, 5.50%, 01/15/42, <br> (5-year CMT + 4.006%)<sup>(a)</sup><br>| &nbsp;&nbsp; 165 | 155081 |
| Enstar Group Ltd., 4.95%, 06/01/29<sup>(c)</sup> | &nbsp;&nbsp; 160 | 157914 |
| Equitable Financial Life Global Funding |  |  |
| 1.00%, 01/09/26<sup>(b)</sup> | &nbsp;&nbsp; 20 | 19131 |
| 1.30%, 07/12/26<sup>(b)</sup> | &nbsp;&nbsp; 275 | 259950 |
| 1.70%, 11/12/26<sup>(b)</sup> | &nbsp;&nbsp; 250 | 235517 |
| 1.80%, 03/08/28<sup>(b)</sup> | &nbsp;&nbsp; 195 | 176219 |
| 5.45%, 03/03/28<sup>(b)</sup> | &nbsp;&nbsp; 110 | 111177 |
| 5.50%, 12/02/25<sup>(b)</sup> | &nbsp;&nbsp; 306 | 308548 |
| Equitable Holdings Inc. |  |  |
| 4.35%, 04/20/28 | &nbsp;&nbsp; 435 | 426533 |
| 4.57%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 97846 |
| Essent Group Ltd., 6.25%, 07/01/29 | &nbsp;&nbsp; 80 | 81832 |
| F&G Annuities & Life Inc. |  |  |
| 6.50%, 06/04/29 | &nbsp;&nbsp; 175 | 177368 |
| 7.40%, 01/13/28 | &nbsp;&nbsp; 125 | 130022 |
| F&G Global Funding |  |  |
| 1.75%, 06/30/26<sup>(b)</sup> | &nbsp;&nbsp; 335 | 317275 |
| 2.00%, 09/20/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 80 | 70126 |
| 2.30%, 04/11/27<sup>(b)</sup> | &nbsp;&nbsp; 255 | 237430 |
| 5.88%, 06/10/27<sup>(b)</sup> | &nbsp;&nbsp; 105 | 106615 |
| Fairfax Financial Holdings Ltd., 4.85%, 04/17/28 | &nbsp;&nbsp; 200 | 199164 |
| Farmers Exchange Capital, 7.05%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 105 | 109416 |
| Fidelity National Financial Inc., 4.50%, 08/15/28 | &nbsp;&nbsp; 120 | 118089 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| GA Global Funding Trust |  |  |
| 1.63%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; $290 | $278672 |
| 1.95%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 30 | 26783 |
| 2.25%, 01/06/27<sup>(b)</sup> | &nbsp;&nbsp; 330 | 311559 |
| 4.40%, 09/23/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 147805 |
| 5.50%, 01/08/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 152414 |
| Global Atlantic Fin Co., 4.70%, 10/15/51, <br> (5-year CMT + 3.796%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 235 | 225277 |
| Globe Life Inc., 4.55%, 09/15/28 | &nbsp;&nbsp; 205 | 202329 |
| Great-West Lifeco Finance 2018 LP, 4.05%, <br> 05/17/28<sup>(b)</sup><br>| &nbsp;&nbsp; 55 | 53231 |
| Guardian Life Global Funding |  |  |
| 0.88%, 12/10/25<sup>(b)</sup> | &nbsp;&nbsp; 130 | 124703 |
| 1.25%, 11/19/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 45 | 40642 |
| 1.40%, 07/06/27<sup>(b)</sup> | &nbsp;&nbsp; 50 | 45954 |
| 1.63%, 09/16/28<sup>(b)</sup> | &nbsp;&nbsp; 15 | 13384 |
| 3.25%, 03/29/27<sup>(b)</sup> | &nbsp;&nbsp; 330 | 319317 |
| 4.18%, 09/26/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 121930 |
| 5.55%, 10/28/27<sup>(b)</sup> | &nbsp;&nbsp; 470 | 481079 |
| 5.74%, 10/02/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 103438 |
| Guoren Property & Casualty Insurance Co. Ltd., <br> 3.35%, 06/01/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 191818 |
| Hanwha Life Insurance Co. Ltd., 3.38%, 02/04/32, <br> (5-year CMT + 1.850%)<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 191606 |
| Hartford Financial Services Group Inc. (The), 2.80%, <br> 08/19/29<br>| &nbsp;&nbsp; 150 | 136891 |
| High Street Funding Trust I, 4.11%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 165 | 158690 |
| Horace Mann Educators Corp., 7.25%, 09/15/28 | &nbsp;&nbsp; 75 | 80217 |
| Jackson Financial Inc., 5.17%, 06/08/27 | &nbsp;&nbsp; 100 | 100417 |
| Jackson National Life Global Funding |  |  |
| 3.05%, 04/29/26<sup>(b)</sup> | &nbsp;&nbsp; 25 | 24318 |
| 3.05%, 06/21/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 89874 |
| 4.60%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 293880 |
| 5.25%, 04/12/28<sup>(b)</sup> | &nbsp;&nbsp; 155 | 154261 |
| 5.50%, 01/09/26<sup>(b)</sup> | &nbsp;&nbsp; 245 | 245951 |
| Kyobo Life Insurance Co. Ltd., 5.90%, 06/15/52, <br> (5-year CMT + 2.887%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 204192 |
| La Mondiale SAM, 5.88%, 01/26/47, <br> (5-year USD ICE Swap + 4.482%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 199724 |
| Legal & General Group PLC, 5.25%, 03/21/47, <br> (5-year USD Swap + 3.687%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 600 | 595060 |
| Liberty Mutual Group Inc. |  |  |
| 4.13%, 12/15/51, (5-year CMT + 3.315%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 175 | 164739 |
| 4.57%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 325 | 319584 |
| Lincoln National Corp. |  |  |
| 3.63%, 12/12/26 | &nbsp;&nbsp; 95 | 92754 |
| 3.80%, 03/01/28 | &nbsp;&nbsp; 115 | 111326 |
| Loews Corp., 3.75%, 04/01/26 | &nbsp;&nbsp; 239 | 236122 |
| Manulife Financial Corp. |  |  |
| 2.48%, 05/19/27 | &nbsp;&nbsp; 5 | 4745 |
| 4.06%, 02/24/32, <br> (5-year USD ICE Swap + 1.647%)<sup>(a)</sup><br>| &nbsp;&nbsp; 337 | 328584 |
| 4.15%, 03/04/26 | &nbsp;&nbsp; 373 | 369979 |
| Markel Group Inc. |  |  |
| 3.35%, 09/17/29 | &nbsp;&nbsp; 100 | 92707 |
| 3.50%, 11/01/27 | &nbsp;&nbsp; 5 | 4814 |
| Marsh & McLennan Companies Inc. |  |  |
| 3.75%, 03/14/26 | &nbsp;&nbsp; 150 | 148338 |
| 4.38%, 03/15/29 | &nbsp;&nbsp; 445 | 439557 |
| 4.55%, 11/08/27 | &nbsp;&nbsp; 250 | 250050 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| MassMutual Global Funding II |  |  |
| 1.20%, 07/16/26<sup>(b)</sup> | &nbsp;&nbsp; $60 | $56681 |
| 4.50%, 04/10/26<sup>(b)</sup> | &nbsp;&nbsp; 235 | 234926 |
| 4.85%, 01/17/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201508 |
| 5.05%, 12/07/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 440 | 446733 |
| 5.05%, 06/14/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 207646 |
| 5.10%, 04/09/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202728 |
| 5.15%, 05/30/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204104 |
| Meiji Yasuda Life Insurance Co., 5.10%, 04/26/48, <br> (5-year USD ICE Swap + 3.150%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 495 | 493762 |
| Mercury General Corp., 4.40%, 03/15/27 | &nbsp;&nbsp; 45 | 44098 |
| Met Tower Global Funding |  |  |
| 1.25%, 09/14/26<sup>(b)</sup> | &nbsp;&nbsp; 335 | 315464 |
| 4.00%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 147837 |
| 4.85%, 01/16/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 151027 |
| 5.25%, 04/12/29<sup>(b)</sup> | &nbsp;&nbsp; 165 | 168024 |
| 5.40%, 06/20/26<sup>(b)</sup> | &nbsp;&nbsp; 160 | 162107 |
| Metropolitan Life Global Funding I |  |  |
| 3.00%, 09/19/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 191431 |
| 3.05%, 06/17/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 139159 |
| 3.30%, 03/21/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 141468 |
| 4.30%, 08/25/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 146694 |
| 4.40%, 06/30/27<sup>(b)</sup> | &nbsp;&nbsp; 410 | 408533 |
| 4.85%, 01/08/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 250989 |
| 5.00%, 01/06/26<sup>(b)</sup> | &nbsp;&nbsp; 305 | 306282 |
| 5.05%, 06/11/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 151950 |
| 5.05%, 01/06/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 171491 |
| 5.40%, 09/12/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 184175 |
| MGIC Investment Corp., 5.25%, 08/15/28 | &nbsp;&nbsp; 245 | 241405 |
| Mitsui Sumitomo Insurance Co. Ltd., 4.95%, <br> (5-year USD Swap + 3.256%)<sup>(a)(b)(f)</sup><br>| &nbsp;&nbsp; 200 | 197801 |
| Muang Thai Life Assurance PCL, 3.55%, 01/27/37, <br> (10-year CMT + 2.400%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 192002 |
| Mutual of Omaha Companies Global Funding |  |  |
| 4.75%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 98659 |
| 5.35%, 04/09/27<sup>(b)</sup> | &nbsp;&nbsp; 80 | 80940 |
| 5.45%, 12/12/28<sup>(b)</sup> | &nbsp;&nbsp; 95 | 96478 |
| Mutual of Omaha Cos Global Funding, 5.80%, <br> 07/27/26<sup>(b)</sup><br>| &nbsp;&nbsp; 100 | 101373 |
| New York Life Global Funding |  |  |
| 0.85%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 220 | 210355 |
| 1.15%, 06/09/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 310 | 293737 |
| 3.00%, 01/10/28<sup>(b)</sup> | &nbsp;&nbsp; 400 | 381716 |
| 3.25%, 04/07/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 425 | 412741 |
| 3.90%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 195 | 191807 |
| 4.70%, 04/02/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 315 | 315761 |
| 4.70%, 01/29/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 250871 |
| 4.85%, 01/09/28<sup>(b)</sup> | &nbsp;&nbsp; 405 | 408241 |
| 4.90%, 04/02/27<sup>(b)</sup> | &nbsp;&nbsp; 155 | 156342 |
| 4.90%, 06/13/28<sup>(b)</sup> | &nbsp;&nbsp; 110 | 110863 |
| 5.00%, 06/06/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 101315 |
| 5.45%, 09/18/26<sup>(b)</sup> | &nbsp;&nbsp; 145 | 147539 |
| Nippon Life Insurance Co., 4.70%, 01/20/46, <br> (5-year USD ICE Swap + 3.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 400 | 397263 |
| NMI Holdings Inc., 6.00%, 08/15/29 | &nbsp;&nbsp; 100 | 100981 |
| Northwestern Mutual Global Funding |  |  |
| 0.80%, 01/14/26<sup>(b)</sup> | &nbsp;&nbsp; 95 | 90842 |
| 1.70%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 185 | 166480 |
| 1.75%, 01/11/27<sup>(b)</sup> | &nbsp;&nbsp; 337 | 317692 |
| 3.30%, 04/04/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 187311 |
| 4.11%, 09/12/27<sup>(b)</sup> | &nbsp;&nbsp; 110 | 108946 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| 4.35%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; $60 | $59786 |
| 4.70%, 04/06/26<sup>(b)</sup> | &nbsp;&nbsp; 315 | 315351 |
| 4.71%, 01/10/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 149790 |
| 4.90%, 06/12/28<sup>(b)</sup> | &nbsp;&nbsp; 120 | 120567 |
| 5.07%, 03/25/27<sup>(b)</sup> | &nbsp;&nbsp; 220 | 223004 |
| Old Republic International Corp., 3.88%, 08/26/26 | &nbsp;&nbsp; 90 | 88487 |
| Pacific Life Global Funding II |  |  |
| 1.38%, 04/14/26<sup>(b)</sup> | &nbsp;&nbsp; 245 | 233965 |
| 1.45%, 01/20/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 90310 |
| 1.60%, 09/21/28<sup>(b)</sup> | &nbsp;&nbsp; 10 | 8872 |
| 4.50%, 08/28/29<sup>(b)</sup> | &nbsp;&nbsp; 130 | 128701 |
| 4.90%, 01/11/29<sup>(b)</sup> | &nbsp;&nbsp; 85 | 85292 |
| 5.50%, 08/28/26<sup>(b)</sup> | &nbsp;&nbsp; 100 | 101501 |
| 5.50%, 07/18/28<sup>(b)</sup> | &nbsp;&nbsp; 485 | 495664 |
| Phoenix Group Holdings PLC, 4.75%, 09/04/31, <br> (5-year CMT + 4.276%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 195740 |
| Pricoa Global Funding I |  |  |
| 1.20%, 09/01/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 505 | 475472 |
| 4.40%, 08/27/27<sup>(b)</sup> | &nbsp;&nbsp; 165 | 164538 |
| 5.10%, 05/30/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 430 | 435591 |
| 5.55%, 08/28/26<sup>(b)</sup> | &nbsp;&nbsp; 150 | 152545 |
| Principal Financial Group Inc., 3.70%, 05/15/29 | &nbsp;&nbsp; 100 | 95537 |
| Principal Life Global Funding II |  |  |
| 0.88%, 01/12/26<sup>(b)</sup> | &nbsp;&nbsp; 300 | 286337 |
| 1.25%, 08/16/26<sup>(b)</sup> | &nbsp;&nbsp; 315 | 296755 |
| 1.50%, 11/17/26<sup>(b)</sup> | &nbsp;&nbsp; 310 | 291787 |
| 2.50%, 09/16/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 134563 |
| 3.00%, 04/18/26<sup>(b)</sup> | &nbsp;&nbsp; 305 | 297513 |
| 4.60%, 08/19/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 149985 |
| 5.00%, 01/16/27<sup>(b)</sup> | &nbsp;&nbsp; 110 | 110891 |
| 5.10%, 01/25/29<sup>(b)</sup> | &nbsp;&nbsp; 130 | 131381 |
| 5.50%, 06/28/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 265 | 268975 |
| Progressive Corp. (The) |  |  |
| 2.45%, 01/15/27 | &nbsp;&nbsp; 5 | 4790 |
| 2.50%, 03/15/27 | &nbsp;&nbsp; 310 | 296201 |
| 4.00%, 03/01/29 | &nbsp;&nbsp; 195 | 190823 |
| Protective Life Corp., 4.30%, 09/30/28<sup>(b)</sup> | &nbsp;&nbsp; 15 | 14651 |
| Protective Life Global Funding |  |  |
| 1.30%, 09/20/26<sup>(b)</sup> | &nbsp;&nbsp; 210 | 197075 |
| 1.62%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 205 | 196225 |
| 4.34%, 09/13/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 148635 |
| 4.71%, 07/06/27<sup>(b)</sup> | &nbsp;&nbsp; 255 | 255088 |
| 4.99%, 01/12/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150871 |
| 5.21%, 04/14/26<sup>(b)</sup> | &nbsp;&nbsp; 205 | 206416 |
| 5.37%, 01/06/26<sup>(b)</sup> | &nbsp;&nbsp; 300 | 301797 |
| 5.47%, 12/08/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 153639 |
| Prudential Financial Inc. |  |  |
| 3.88%, 03/27/28 | &nbsp;&nbsp; 460 | 448377 |
| 4.50%, 09/15/47, <br> (3-mo. LIBOR US + 2.380%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 160 | 155675 |
| 5.70%, 09/15/48, (3-mo. LIBOR US + 2.665%)<sup>(a)</sup> | &nbsp;&nbsp; 125 | 125774 |
| Prudential Funding Asia PLC, 2.95%, 11/03/33, <br> (5-year CMT + 1.517%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 200 | 182080 |
| Reinsurance Group of America Inc. |  |  |
| 3.90%, 05/15/29 | &nbsp;&nbsp; 185 | 177516 |
| 3.95%, 09/15/26 | &nbsp;&nbsp; 5 | 4927 |
| Reliance Standard Life Global Funding II |  |  |
| 1.51%, 09/28/26<sup>(b)</sup> | &nbsp;&nbsp; 285 | 265480 |
| 2.75%, 01/21/27<sup>(b)</sup> | &nbsp;&nbsp; 90 | 85007 |
| 6.15%, 06/29/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 153239 |
| RenaissanceRe Finance Inc., 3.45%, 07/01/27 | &nbsp;&nbsp; 10 | 9697 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| RenaissanceRe Holdings Ltd., 3.60%, 04/15/29 | &nbsp;&nbsp; $110 | $104248 |
| RGA Global Funding |  |  |
| 2.00%, 11/30/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 15 | 14173 |
| 2.70%, 01/18/29<sup>(b)</sup> | &nbsp;&nbsp; 135 | 123620 |
| 5.45%, 05/24/29<sup>(b)</sup> | &nbsp;&nbsp; 215 | 219302 |
| 6.00%, 11/21/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 103784 |
| Sagicor Financial Co. Ltd., 5.30%, 05/13/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 194811 |
| Sammons Financial Group Inc., 4.45%, <br> 05/12/27<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 50 | 48871 |
| SBL Holdings Inc., 5.13%, 11/13/26<sup>(b)</sup> | &nbsp;&nbsp; 197 | 193056 |
| SiriusPoint Ltd., 7.00%, 04/05/29 | &nbsp;&nbsp; 110 | 112975 |
| Sumitomo Life Insurance Co., 4.00%, 09/14/77, <br> (3-mo. LIBOR US + 2.993%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 560 | 541869 |
| Sunshine Life Insurance Corp. Ltd., 4.50%, <br> 04/20/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 195945 |
| Swiss Re Finance Luxembourg SA, 5.00%, <br> 04/02/49, (5-year CMT + 3.582%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 225 | 224941 |
| Trinity Acquisition PLC, 4.40%, 03/15/26 | &nbsp;&nbsp; 160 | 158860 |
| Unum Group, 4.00%, 06/15/29 | &nbsp;&nbsp; 100 | 96128 |
| Willis North America Inc. |  |  |
| 2.95%, 09/15/29 | &nbsp;&nbsp; 200 | 182549 |
| 4.50%, 09/15/28 | &nbsp;&nbsp; 205 | 201865 |
| 4.65%, 06/15/27 | &nbsp;&nbsp; 417 | 415513 |
| ZhongAn Online P&C Insurance Co. Ltd., 3.50%, <br> 03/08/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 193834 |
|  |  | 54381693 |
| **Internet — 0.5%** | **Internet — 0.5%** | **Internet — 0.5%** |
| Acuris Finance U.S. Inc./Acuris Finance SARL |  |  |
| 5.00%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 120 | 108212 |
| 9.00%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 98054 |
| Alibaba Group Holding Ltd., 3.40%, 12/06/27 | &nbsp;&nbsp; 865 | 833766 |
| Alphabet Inc. |  |  |
| 0.80%, 08/15/27 | &nbsp;&nbsp; 290 | 264804 |
| 2.00%, 08/15/26 | &nbsp;&nbsp; 250 | 240147 |
| Amazon.com Inc. |  |  |
| 1.00%, 05/12/26 | &nbsp;&nbsp; 901 | 857252 |
| 1.20%, 06/03/27 | &nbsp;&nbsp; 527 | 486886 |
| 1.65%, 05/12/28 | &nbsp;&nbsp; 65 | 59177 |
| 3.15%, 08/22/27 | &nbsp;&nbsp; 1200 | 1161805 |
| 3.30%, 04/13/27 | &nbsp;&nbsp; 778 | 759116 |
| 3.45%, 04/13/29 | &nbsp;&nbsp; 415 | 399427 |
| 4.55%, 12/01/27 | &nbsp;&nbsp; 775 | 778895 |
| 4.60%, 12/01/25 | &nbsp;&nbsp; 445 | 445894 |
| 5.20%, 12/03/25 | &nbsp;&nbsp; 357 | 359416 |
| ANGI Group LLC, 3.88%, 08/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 170 | 153963 |
| Arches Buyer Inc. |  |  |
| 4.25%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 315 | 288844 |
| 6.13%, 12/01/28<sup>(b)</sup> | &nbsp;&nbsp; 160 | 140942 |
| Baidu Inc. |  |  |
| 1.63%, 02/23/27 | &nbsp;&nbsp; 200 | 186994 |
| 1.72%, 04/09/26 | &nbsp;&nbsp; 205 | 196340 |
| 3.63%, 07/06/27 | &nbsp;&nbsp; 50 | 48713 |
| 4.38%, 03/29/28 | &nbsp;&nbsp; 200 | 197444 |
| Booking Holdings Inc. |  |  |
| 3.55%, 03/15/28 | &nbsp;&nbsp; 105 | 101757 |
| 3.60%, 06/01/26 | &nbsp;&nbsp; 45 | 44382 |
| Cablevision Lightpath LLC |  |  |
| 3.88%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 135 | 128196 |
| 5.63%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 120874 |
| Cars.com Inc., 6.38%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 120 | 119953 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| Cogent Communications Group Inc./Cogent <br> Communications Finance Inc., 7.00%, <br> 06/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; $105 | $105526 |
| Cogent Communications Group LLC |  |  |
| 3.50%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 170 | 165307 |
| 7.00%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 170 | 171882 |
| eBay Inc. |  |  |
| 1.40%, 05/10/26 | &nbsp;&nbsp; 297 | 282654 |
| 3.60%, 06/05/27 | &nbsp;&nbsp; 161 | 157348 |
| Expedia Group Inc. |  |  |
| 3.80%, 02/15/28 | &nbsp;&nbsp; 365 | 353380 |
| 4.63%, 08/01/27 | &nbsp;&nbsp; 276 | 274887 |
| 5.00%, 02/15/26 | &nbsp;&nbsp; 210 | 210364 |
| Gen Digital Inc., 6.75%, 09/30/27<sup>(b)</sup> | &nbsp;&nbsp; 270 | 274705 |
| Getty Images Inc., 9.75%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 110 | 109633 |
| Go Daddy Operating Co. LLC/GD Finance Co. Inc. |  |  |
| 3.50%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 230540 |
| 5.25%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 225 | 222239 |
| GrubHub Holdings Inc., 5.50%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 165 | 153669 |
| ION Trading Technologies SARL |  |  |
| 5.75%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 135521 |
| 9.50%, 05/30/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 203500 |
| JD.com Inc., 3.88%, 04/29/26 | &nbsp;&nbsp; 245 | 241229 |
| Match Group Holdings II LLC |  |  |
| 4.63%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 143 | 137455 |
| 5.00%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 190 | 185426 |
| 5.63%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 98604 |
| Meta Platforms Inc. |  |  |
| 3.50%, 08/15/27 | &nbsp;&nbsp; 750 | 733497 |
| 4.30%, 08/15/29 | &nbsp;&nbsp; 315 | 312622 |
| 4.60%, 05/15/28 | &nbsp;&nbsp; 430 | 432848 |
| Millennium Escrow Corp., 6.63%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 240 | 153667 |
| NAVER Corp., 1.50%, 03/29/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190694 |
| Netflix Inc. |  |  |
| 4.38%, 11/15/26 | &nbsp;&nbsp; 418 | 417323 |
| 4.88%, 04/15/28 | &nbsp;&nbsp; 604 | 607394 |
| 5.88%, 11/15/28 | &nbsp;&nbsp; 585 | 610760 |
| 6.38%, 05/15/29 | &nbsp;&nbsp; 205 | 219017 |
| Newfold Digital Holdings Group Inc. |  |  |
| 6.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 100956 |
| 11.75%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 160 | 158234 |
| Prosus NV |  |  |
| 3.26%, 01/19/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 381877 |
| 4.85%, 07/06/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197201 |
| Rakuten Group Inc. |  |  |
| 5.13%, (5-year CMT + 4.578%)<sup>(a)(b)(f)</sup> | &nbsp;&nbsp; 245 | 234844 |
| 9.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 575 | 619893 |
| 11.25%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 555 | 603067 |
| Tencent Holdings Ltd. |  |  |
| 1.81%, 01/26/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 578530 |
| 3.58%, 04/11/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196635 |
| 3.60%, 01/19/28<sup>(d)</sup> | &nbsp;&nbsp; 600 | 580492 |
| 3.98%, 04/11/29<sup>(d)</sup> | &nbsp;&nbsp; 800 | 776138 |
| Uber Technologies Inc. |  |  |
| 4.50%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 400 | 389312 |
| 6.25%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201981 |
| 7.50%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 207 | 210997 |
| 8.00%, 11/01/26<sup>(b)</sup> | &nbsp;&nbsp; 465 | 465000 |
| VeriSign Inc., 4.75%, 07/15/27 | &nbsp;&nbsp; 95 | 94193 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(b)</sup> | &nbsp;&nbsp; 90 | 91067 |
|  |  | 21853361 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** |
| ABJA Investment Co. Pte Ltd., 5.45%, 01/24/28<sup>(d)</sup> | &nbsp;&nbsp; $400 | $405358 |
| Algoma Steel Inc., 9.13%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 110 | 113429 |
| Allegheny Ludlum LLC, 6.95%, 12/15/25 | &nbsp;&nbsp; 55 | 55833 |
| ArcelorMittal SA |  |  |
| 4.25%, 07/16/29<sup>(c)</sup> | &nbsp;&nbsp; 100 | 97424 |
| 4.55%, 03/11/26 | &nbsp;&nbsp; 222 | 220902 |
| 6.55%, 11/29/27 | &nbsp;&nbsp; 477 | 496415 |
| ATI Inc., 5.88%, 12/01/27 | &nbsp;&nbsp; 150 | 149185 |
| Baffinland Iron Mines Corp./Baffinland Iron <br> Mines LP, 8.75%, 07/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 180 | 163170 |
| Carpenter Technology Corp., 6.38%, 07/15/28 | &nbsp;&nbsp; 135 | 134839 |
| Cleveland-Cliffs Inc. |  |  |
| 4.63%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 117176 |
| 5.88%, 06/01/27 | &nbsp;&nbsp; 175 | 174758 |
| 6.88%, 11/01/29<sup>(b)</sup> | &nbsp;&nbsp; 180 | 180624 |
| CSN Inova Ventures, 6.75%, 01/28/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 381637 |
| Eregli Demir ve Celik Fabrikalari TAS, 8.38%, <br> 07/23/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 205398 |
| Gerdau Trade Inc., 4.88%, 10/24/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199705 |
| Infrabuild Australia Pty. Ltd., 14.50%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 98614 |
| Krakatau Posco PT |  |  |
| 6.38%, 06/11/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200027 |
| 6.38%, 06/11/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199429 |
| Mineral Resources Ltd. |  |  |
| 8.00%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 215138 |
| 8.13%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 205 | 206381 |
| 9.25%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 335 | 352919 |
| Nucor Corp. |  |  |
| 3.95%, 05/01/28 | &nbsp;&nbsp; 40 | 39113 |
| 4.30%, 05/23/27 | &nbsp;&nbsp; 275 | 273875 |
| Periama Holdings LLC/DE, 5.95%, 04/19/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 399000 |
| POSCO |  |  |
| 4.50%, 08/04/27<sup>(d)</sup> | &nbsp;&nbsp; 204 | 201903 |
| 5.75%, 01/17/28<sup>(d)</sup> | &nbsp;&nbsp; 385 | 393646 |
| Steel Dynamics Inc. |  |  |
| 1.65%, 10/15/27 | &nbsp;&nbsp; 15 | 13735 |
| 5.00%, 12/15/26 | &nbsp;&nbsp; 75 | 74899 |
| TMS International Corp./DE, 6.25%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 96748 |
| U.S. Steel Corp., 6.88%, 03/01/29 | &nbsp;&nbsp; 150 | 151198 |
|  |  | 6012478 |
| **Leisure Time — 0.2%** | **Leisure Time — 0.2%** | **Leisure Time — 0.2%** |
| Acushnet Co., 7.38%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 135895 |
| Brunswick Corp./DE, 5.85%, 03/18/29<sup>(c)</sup> | &nbsp;&nbsp; 125 | 127142 |
| Carnival Corp. |  |  |
| 4.00%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 800 | 762977 |
| 5.75%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 800 | 802267 |
| 6.00%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 600 | 600737 |
| 6.65%, 01/15/28 | &nbsp;&nbsp; 63 | 64069 |
| 7.63%, 03/01/26<sup>(b)</sup> | &nbsp;&nbsp; 400 | 402856 |
| Carnival Holdings Bermuda Ltd., 10.38%, <br> 05/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 615 | 660056 |
| Harley-Davidson Financial Services Inc. |  |  |
| 3.05%, 02/14/27<sup>(b)</sup> | &nbsp;&nbsp; 135 | 127703 |
| 5.95%, 06/11/29<sup>(b)</sup> | &nbsp;&nbsp; 135 | 135288 |
| 6.50%, 03/10/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 180 | 184655 |
| Life Time Inc. |  |  |
| 5.75%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 274 | 273953 |
| 8.00%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 182 | 182823 |
| Lindblad Expeditions Holdings Inc., 9.00%, <br> 05/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 100 | 104232 |
| Lindblad Expeditions LLC, 6.75%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 145 | 145628 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Leisure Time (continued)** | **Leisure Time (continued)** | **Leisure Time (continued)** |
| MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; $150 | $143852 |
| NCL Corp. Ltd. |  |  |
| 5.88%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 432 | 431412 |
| 5.88%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 280 | 279705 |
| 7.75%, 02/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 175 | 185263 |
| 8.13%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 264641 |
| 8.38%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 195 | 204264 |
| NCL Finance Ltd., 6.13%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 165 | 165986 |
| Polaris Inc., 6.95%, 03/15/29 | &nbsp;&nbsp; 150 | 158323 |
| Royal Caribbean Cruises Ltd. |  |  |
| 3.70%, 03/15/28 | &nbsp;&nbsp; 170 | 161962 |
| 4.25%, 07/01/26<sup>(b)</sup> | &nbsp;&nbsp; 220 | 215907 |
| 5.38%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 285 | 284434 |
| 5.50%, 08/31/26<sup>(b)</sup> | &nbsp;&nbsp; 280 | 280251 |
| 5.50%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 445 | 445015 |
| 7.50%, 10/15/27 | &nbsp;&nbsp; 105 | 111281 |
| Sabre GLBL Inc. |  |  |
| 8.63%, 06/01/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 285 | 275091 |
| 11.25%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 180 | 185189 |
| Sunny Express Enterprises Corp., 2.95%, <br> 03/01/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 193018 |
| Viking Cruises Ltd. |  |  |
| 5.88%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 270 | 268334 |
| 7.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 160 | 161200 |
| Viking Ocean Cruises Ship VII Ltd., 5.63%, <br> 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 100 | 98674 |
| VOC Escrow Ltd., 5.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 245 | 238327 |
|  |  | 9462410 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| Boyd Gaming Corp., 4.75%, 12/01/27 | &nbsp;&nbsp; 305 | 299258 |
| Fortune Star BVI Ltd. |  |  |
| 5.00%, 05/18/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 383000 |
| 5.05%, 01/27/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 187559 |
| Full House Resorts Inc., 8.25%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 140 | 139837 |
| Genting New York LLC/GENNY Capital Inc., 7.25%, <br> 10/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 202705 |
| Gohl Capital Ltd., 4.25%, 01/24/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 390895 |
| Hilton Domestic Operating Co. Inc. |  |  |
| 3.75%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 139773 |
| 5.75%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 155 | 155170 |
| 5.88%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 165 | 166412 |
| Hilton Grand Vacations Borrower Escrow LLC/Hilton <br> Grand Vacations Borrower Esc, 5.00%, <br> 06/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 250 | 234288 |
| Hilton Worldwide Finance LLC/Hilton Worldwide <br> Finance Corp., 4.88%, 04/01/27<br>| &nbsp;&nbsp; 215 | 212807 |
| Hyatt Hotels Corp. |  |  |
| 4.38%, 09/15/28 | &nbsp;&nbsp; 125 | 122212 |
| 4.85%, 03/15/26 | &nbsp;&nbsp; 193 | 193099 |
| 5.25%, 06/30/29 | &nbsp;&nbsp; 140 | 140774 |
| 5.75%, 01/30/27 | &nbsp;&nbsp; 40 | 40780 |
| Las Vegas Sands Corp. |  |  |
| 3.50%, 08/18/26 | &nbsp;&nbsp; 355 | 344983 |
| 3.90%, 08/08/29 | &nbsp;&nbsp; 255 | 238210 |
| 5.90%, 06/01/27 | &nbsp;&nbsp; 75 | 76148 |
| 6.00%, 08/15/29 | &nbsp;&nbsp; 100 | 101921 |
| Marriott International Inc./MD |  |  |
| 4.88%, 05/15/29 | &nbsp;&nbsp; 95 | 95084 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 240 | 240477 |
| 5.00%, 10/15/27 | &nbsp;&nbsp; 655 | 661854 |
| 5.45%, 09/15/26 | &nbsp;&nbsp; 50 | 50722 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| 5.55%, 10/15/28 | &nbsp;&nbsp; $190 | $195331 |
| Series AA, 4.65%, 12/01/28 | &nbsp;&nbsp; 15 | 14938 |
| Series R, 3.13%, 06/15/26 | &nbsp;&nbsp; 65 | 63479 |
| Series X, 4.00%, 04/15/28 | &nbsp;&nbsp; 25 | 24411 |
| Marriott Ownership Resorts Inc. |  |  |
| 4.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 139100 |
| 4.75%, 01/15/28 | &nbsp;&nbsp; 120 | 114649 |
| Melco Resorts Finance Ltd. |  |  |
| 5.25%, 04/26/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196020 |
| 5.75%, 07/21/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 238981 |
| MGM China Holdings Ltd. |  |  |
| 4.75%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 260 | 251551 |
| 5.88%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 235 | 233740 |
| MGM Resorts International |  |  |
| 4.63%, 09/01/26 | &nbsp;&nbsp; 135 | 133807 |
| 4.75%, 10/15/28<sup>(c)</sup> | &nbsp;&nbsp; 220 | 212547 |
| 5.50%, 04/15/27 | &nbsp;&nbsp; 219 | 218504 |
| 6.13%, 09/15/29 | &nbsp;&nbsp; 130 | 129565 |
| Minor International PCL, 2.70%, <br> (5-year CMT + 7.918%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 192557 |
| Sands China Ltd. |  |  |
| 2.30%, 03/08/27 | &nbsp;&nbsp; 250 | 232712 |
| 2.85%, 03/08/29 | &nbsp;&nbsp; 200 | 179417 |
| 3.80%, 01/08/26 | &nbsp;&nbsp; 270 | 264787 |
| 5.40%, 08/08/28 | &nbsp;&nbsp; 460 | 457876 |
| Station Casinos LLC, 4.50%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 230 | 219605 |
| Studio City Co. Ltd., 7.00%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150489 |
| Studio City Finance Ltd. |  |  |
| 5.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 315999 |
| 6.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 160 | 154356 |
| Travel & Leisure Co. |  |  |
| 6.00%, 04/01/27 | &nbsp;&nbsp; 135 | 136196 |
| 6.60%, 10/01/25 | &nbsp;&nbsp; 133 | 133946 |
| 6.63%, 07/31/26<sup>(b)</sup> | &nbsp;&nbsp; 205 | 206590 |
| Wyndham Hotels & Resorts Inc., 4.38%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 166381 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital <br> Corp., 5.25%, 05/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 268 | 266041 |
| Wynn Macau Ltd. |  |  |
| 5.50%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 305 | 301788 |
| 5.50%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 245 | 237508 |
| 5.63%, 08/26/28<sup>(b)</sup> | &nbsp;&nbsp; 425 | 408470 |
|  |  | 11009309 |
| **Machinery — 0.4%** | **Machinery — 0.4%** | **Machinery — 0.4%** |
| ABB Finance USA Inc., 3.80%, 04/03/28 | &nbsp;&nbsp; 10 | 9812 |
| AGCO Corp., 5.45%, 03/21/27 | &nbsp;&nbsp; 180 | 181860 |
| ATS Corp., 4.13%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 93771 |
| BWX Technologies Inc. |  |  |
| 4.13%, 06/30/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 119253 |
| 4.13%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 118301 |
| Caterpillar Financial Services Corp. |  |  |
| 0.80%, 11/13/25 | &nbsp;&nbsp; 469 | 451781 |
| 0.90%, 03/02/26 | &nbsp;&nbsp; 70 | 66882 |
| 1.10%, 09/14/27 | &nbsp;&nbsp; 200 | 182849 |
| 1.15%, 09/14/26 | &nbsp;&nbsp; 269 | 253783 |
| 1.70%, 01/08/27 | &nbsp;&nbsp; 280 | 264253 |
| 2.40%, 08/09/26 | &nbsp;&nbsp; 20 | 19314 |
| 3.60%, 08/12/27 | &nbsp;&nbsp; 395 | 387641 |
| 4.35%, 05/15/26 | &nbsp;&nbsp; 485 | 485091 |
| 4.38%, 08/16/29 | &nbsp;&nbsp; 125 | 123840 |
| 4.40%, 10/15/27 | &nbsp;&nbsp; 135 | 134886 |
| 4.45%, 10/16/26 | &nbsp;&nbsp; 135 | 135128 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| 4.50%, 01/08/27 | &nbsp;&nbsp; $135 | $135393 |
| 4.80%, 01/06/26 | &nbsp;&nbsp; 430 | 431777 |
| 4.85%, 02/27/29 | &nbsp;&nbsp; 150 | 151922 |
| 5.00%, 05/14/27 | &nbsp;&nbsp; 125 | 126755 |
| 5.05%, 02/27/26 | &nbsp;&nbsp; 215 | 216829 |
| Caterpillar Inc., 2.60%, 09/19/29 | &nbsp;&nbsp; 140 | 128104 |
| CNH Industrial Capital LLC |  |  |
| 1.45%, 07/15/26 | &nbsp;&nbsp; 210 | 198452 |
| 1.88%, 01/15/26 | &nbsp;&nbsp; 200 | 193144 |
| 4.50%, 10/08/27 | &nbsp;&nbsp; 40 | 39718 |
| 4.55%, 04/10/28 | &nbsp;&nbsp; 290 | 287696 |
| 5.10%, 04/20/29 | &nbsp;&nbsp; 150 | 151038 |
| 5.50%, 01/12/29 | &nbsp;&nbsp; 110 | 112463 |
| CNH Industrial NV, 3.85%, 11/15/27 | &nbsp;&nbsp; 35 | 34261 |
| Dover Corp., 3.15%, 11/15/25 | &nbsp;&nbsp; 65 | 63872 |
| Esab Corp., 6.25%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 65 | 66148 |
| GrafTech Finance Inc., 4.63%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 160 | 113642 |
| GrafTech Global Enterprises Inc., 9.88%, <br> 12/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 140 | 117596 |
| Husky Injection Molding Systems Ltd./Titan <br> Co-Borrower LLC, 9.00%, 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 340 | 348956 |
| IDEX Corp., 4.95%, 09/01/29 | &nbsp;&nbsp; 100 | 100345 |
| Ingersoll Rand Inc. |  |  |
| 5.18%, 06/15/29 | &nbsp;&nbsp; 170 | 172355 |
| 5.20%, 06/15/27 | &nbsp;&nbsp; 170 | 172140 |
| 5.40%, 08/14/28 | &nbsp;&nbsp; 165 | 168710 |
| John Deere Capital Corp. |  |  |
| 0.70%, 01/15/26 | &nbsp;&nbsp; 196 | 187441 |
| 1.05%, 06/17/26 | &nbsp;&nbsp; 105 | 99506 |
| 1.30%, 10/13/26 | &nbsp;&nbsp; 315 | 297166 |
| 1.50%, 03/06/28<sup>(c)</sup> | &nbsp;&nbsp; 20 | 18131 |
| 1.70%, 01/11/27 | &nbsp;&nbsp; 15 | 14150 |
| 1.75%, 03/09/27 | &nbsp;&nbsp; 90 | 84663 |
| 2.25%, 09/14/26 | &nbsp;&nbsp; 50 | 48109 |
| 2.35%, 03/08/27 | &nbsp;&nbsp; 390 | 371745 |
| 2.65%, 06/10/26 | &nbsp;&nbsp; 55 | 53523 |
| 2.80%, 09/08/27 | &nbsp;&nbsp; 150 | 143378 |
| 2.80%, 07/18/29 | &nbsp;&nbsp; 150 | 138889 |
| 3.05%, 01/06/28 | &nbsp;&nbsp; 15 | 14412 |
| 3.35%, 04/18/29 | &nbsp;&nbsp; 200 | 190711 |
| 3.45%, 03/07/29 | &nbsp;&nbsp; 200 | 191071 |
| 4.15%, 09/15/27 | &nbsp;&nbsp; 420 | 417481 |
| 4.20%, 07/15/27 | &nbsp;&nbsp; 120 | 119273 |
| 4.50%, 01/08/27 | &nbsp;&nbsp; 210 | 210469 |
| 4.50%, 01/16/29 | &nbsp;&nbsp; 300 | 299298 |
| 4.75%, 06/08/26 | &nbsp;&nbsp; 230 | 231178 |
| 4.75%, 01/20/28 | &nbsp;&nbsp; 505 | 509261 |
| 4.80%, 01/09/26 | &nbsp;&nbsp; 350 | 351566 |
| 4.85%, 03/05/27 | &nbsp;&nbsp; 140 | 141397 |
| 4.85%, 06/11/29 | &nbsp;&nbsp; 205 | 206950 |
| 4.90%, 06/11/27 | &nbsp;&nbsp; 200 | 202147 |
| 4.90%, 03/03/28 | &nbsp;&nbsp; 76 | 76836 |
| 4.95%, 03/06/26 | &nbsp;&nbsp; 130 | 130791 |
| 4.95%, 07/14/28 | &nbsp;&nbsp; 590 | 597879 |
| 5.15%, 09/08/26 | &nbsp;&nbsp; 100 | 101472 |
| Maxim Crane Works Holdings Capital LLC, 11.50%, <br> 09/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 158 | 169624 |
| Mueller Water Products Inc., 4.00%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 140 | 130216 |
| Nordson Corp., 5.60%, 09/15/28 | &nbsp;&nbsp; 65 | 66803 |
| nVent Finance SARL, 4.55%, 04/15/28 | &nbsp;&nbsp; 205 | 203218 |
| Oshkosh Corp., 4.60%, 05/15/28 | &nbsp;&nbsp; 25 | 24725 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| Otis Worldwide Corp. |  |  |
| 2.29%, 04/05/27 | &nbsp;&nbsp; $95 | $90072 |
| 5.25%, 08/16/28 | &nbsp;&nbsp; 235 | 239111 |
| Rockwell Automation Inc., 3.50%, 03/01/29 | &nbsp;&nbsp; 100 | 95360 |
| Terex Corp., 5.00%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 168367 |
| TK Elevator Holdco GmbH, 7.63%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 150717 |
| TK Elevator U.S. Newco Inc., 5.25%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 475 | 467518 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 275 | 261950 |
| Weir Group PLC (The), 2.20%, 05/13/26<sup>(b)</sup> | &nbsp;&nbsp; 295 | 282736 |
| Westinghouse Air Brake Technologies Corp. |  |  |
| 3.45%, 11/15/26 | &nbsp;&nbsp; 346 | 337368 |
| 4.70%, 09/15/28 | &nbsp;&nbsp; 364 | 362281 |
| Xylem Inc./New York |  |  |
| 1.95%, 01/30/28 | &nbsp;&nbsp; 105 | 96746 |
| 3.25%, 11/01/26 | &nbsp;&nbsp; 10 | 9736 |
|  |  | 15165202 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| 3M Co. |  |  |
| 2.25%, 09/19/26 | &nbsp;&nbsp; 162 | 155050 |
| 2.38%, 08/26/29 | &nbsp;&nbsp; 295 | 265097 |
| 2.88%, 10/15/27 | &nbsp;&nbsp; 405 | 386056 |
| 3.38%, 03/01/29 | &nbsp;&nbsp; 225 | 212999 |
| 3.63%, 09/14/28 | &nbsp;&nbsp; 140 | 135218 |
| Amsted Industries Inc., 5.63%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 155 | 153963 |
| Calderys Financing LLC, 11.25%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 187062 |
| Carlisle Companies Inc., 3.75%, 12/01/27 | &nbsp;&nbsp; 215 | 208999 |
| Eaton Corp. |  |  |
| 3.10%, 09/15/27 | &nbsp;&nbsp; 255 | 245791 |
| 4.35%, 05/18/28 | &nbsp;&nbsp; 110 | 109460 |
| Enpro Inc., 5.75%, 10/15/26 | &nbsp;&nbsp; 110 | 109704 |
| FXI Holdings Inc. |  |  |
| 12.25%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 158 | 156980 |
| 12.25%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 245 | 244109 |
| Hillenbrand Inc. |  |  |
| 5.00%, 09/15/26 | &nbsp;&nbsp; 145 | 143750 |
| 6.25%, 02/15/29 | &nbsp;&nbsp; 140 | 140580 |
| Illinois Tool Works Inc., 2.65%, 11/15/26 | &nbsp;&nbsp; 183 | 176993 |
| LSB Industries Inc., 6.25%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 151 | 146225 |
| Parker-Hannifin Corp. |  |  |
| 3.25%, 03/01/27 | &nbsp;&nbsp; 10 | 9704 |
| 3.25%, 06/14/29 | &nbsp;&nbsp; 325 | 305241 |
| 4.25%, 09/15/27 | &nbsp;&nbsp; 585 | 579982 |
| 4.50%, 09/15/29 | &nbsp;&nbsp; 300 | 297880 |
| Pentair Finance SARL, 4.50%, 07/01/29 | &nbsp;&nbsp; 100 | 97461 |
| Siemens Financieringsmaatschappij NV |  |  |
| 1.20%, 03/11/26<sup>(b)</sup> | &nbsp;&nbsp; 675 | 646180 |
| 2.35%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 545 | 523776 |
| 3.40%, 03/16/27<sup>(b)</sup> | &nbsp;&nbsp; 430 | 419748 |
| 6.13%, 08/17/26<sup>(b)</sup> | &nbsp;&nbsp; 625 | 642799 |
| Sunny Optical Technology Group Co. Ltd., 5.95%, <br> 07/17/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 202252 |
| Teledyne Technologies Inc. |  |  |
| 1.60%, 04/01/26 | &nbsp;&nbsp; 170 | 162510 |
| 2.25%, 04/01/28 | &nbsp;&nbsp; 100 | 92246 |
| Textron Inc. |  |  |
| 3.38%, 03/01/28 | &nbsp;&nbsp; 25 | 23817 |
| 3.65%, 03/15/27 | &nbsp;&nbsp; 170 | 165541 |
| 3.90%, 09/17/29 | &nbsp;&nbsp; 100 | 95521 |
| Trinity Industries Inc., 7.75%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 152 | 157284 |
|  |  | 7599978 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media — 0.8%** | **Media — 0.8%** | **Media — 0.8%** |
| AMC Networks Inc. |  |  |
| 4.25%, 02/15/29<sup>(c)</sup> | &nbsp;&nbsp; $285 | $196482 |
| 10.25%, 01/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 275 | 283113 |
| Beasley Mezzanine Holdings LLC, 9.20%, <br> 08/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 62 | 30805 |
| Belo Corp. |  |  |
| 7.25%, 09/15/27 | &nbsp;&nbsp; 90 | 92695 |
| 7.75%, 06/01/27 | &nbsp;&nbsp; 88 | 91423 |
| Block Communications Inc., 4.88%, 03/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 95 | 90088 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| 5.00%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 770 | 745150 |
| 5.13%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 950 | 930591 |
| 5.38%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 410 | 392065 |
| 5.50%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 223 | 222390 |
| 6.38%, 09/01/29<sup>(b)</sup> | &nbsp;&nbsp; 435 | 430760 |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| 2.25%, 01/15/29 | &nbsp;&nbsp; 375 | 329157 |
| 3.75%, 02/15/28 | &nbsp;&nbsp; 370 | 352135 |
| 4.20%, 03/15/28 | &nbsp;&nbsp; 347 | 334584 |
| 5.05%, 03/30/29 | &nbsp;&nbsp; 350 | 343262 |
| 6.10%, 06/01/29 | &nbsp;&nbsp; 410 | 418405 |
| 6.15%, 11/10/26 | &nbsp;&nbsp; 405 | 413446 |
| Comcast Corp. |  |  |
| 2.35%, 01/15/27 | &nbsp;&nbsp; 459 | 437806 |
| 3.15%, 03/01/26 | &nbsp;&nbsp; 833 | 817642 |
| 3.15%, 02/15/28 | &nbsp;&nbsp; 555 | 530156 |
| 3.30%, 02/01/27 | &nbsp;&nbsp; 411 | 400551 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 285 | 277336 |
| 3.55%, 05/01/28 | &nbsp;&nbsp; 222 | 214195 |
| 4.15%, 10/15/28 | &nbsp;&nbsp; 1185 | 1163387 |
| 4.55%, 01/15/29 | &nbsp;&nbsp; 295 | 293887 |
| 5.10%, 06/01/29 | &nbsp;&nbsp; 225 | 228666 |
| 5.35%, 11/15/27 | &nbsp;&nbsp; 221 | 226221 |
| Cox Communications Inc. |  |  |
| 3.35%, 09/15/26<sup>(b)</sup> | &nbsp;&nbsp; 485 | 471161 |
| 3.50%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 102 | 98315 |
| 5.45%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 230 | 233783 |
| CSC Holdings LLC |  |  |
| 5.38%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 305 | 261009 |
| 5.50%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 380 | 338201 |
| 6.50%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 505 | 426563 |
| 7.50%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 310 | 204273 |
| 11.25%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 305 | 297375 |
| 11.75%, 01/31/29<sup>(b)</sup> | &nbsp;&nbsp; 615 | 599853 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 1085 | 1044856 |
| Discovery Communications LLC |  |  |
| 3.95%, 03/20/28 | &nbsp;&nbsp; 445 | 419912 |
| 4.13%, 05/15/29 | &nbsp;&nbsp; 210 | 195400 |
| 4.90%, 03/11/26 | &nbsp;&nbsp; 225 | 223699 |
| DISH DBS Corp. |  |  |
| 5.25%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 860 | 796010 |
| 5.75%, 12/01/28<sup>(b)</sup> | &nbsp;&nbsp; 770 | 673896 |
| 7.38%, 07/01/28 | &nbsp;&nbsp; 325 | 237990 |
| 7.75%, 07/01/26 | &nbsp;&nbsp; 620 | 523823 |
| 5.13%, 06/01/29 | &nbsp;&nbsp; 400 | 265675 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 1150 | 1210657 |
| FactSet Research Systems Inc., 2.90%, 03/01/27 | &nbsp;&nbsp; 190 | 182173 |
| Fox Corp., 4.71%, 01/25/29 | &nbsp;&nbsp; 420 | 418195 |
| GCI LLC, 4.75%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 169815 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Gray Television Inc. |  |  |
| 7.00%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; $237 | $230859 |
| 10.50%, 07/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 375 | 389557 |
| iHeartCommunications Inc. |  |  |
| 4.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 160 | 98052 |
| 5.25%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 245 | 164874 |
| 6.38%, 05/01/26 | &nbsp;&nbsp; 265 | 223906 |
| 8.38%, 05/01/27 | &nbsp;&nbsp; 270 | 142126 |
| LCPR Senior Secured Financing DAC |  |  |
| 5.13%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 215 | 180691 |
| 6.75%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 390 | 365581 |
| McGraw-Hill Education Inc. |  |  |
| 5.75%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 265 | 259898 |
| 8.00%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201350 |
| News Corp., 3.88%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 279347 |
| Nexstar Media Inc. |  |  |
| 4.75%, 11/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 330 | 310188 |
| 5.63%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 510 | 501229 |
| Paramount Global |  |  |
| 2.90%, 01/15/27<sup>(c)</sup> | &nbsp;&nbsp; 74 | 70298 |
| 3.38%, 02/15/28 | &nbsp;&nbsp; 280 | 260198 |
| 3.70%, 06/01/28 | &nbsp;&nbsp; 64 | 59867 |
| 4.20%, 06/01/29<sup>(c)</sup> | &nbsp;&nbsp; 110 | 102951 |
| 6.25%, 02/28/57, (3-mo. LIBOR US + 3.899%)<sup>(a)</sup> | &nbsp;&nbsp; 195 | 174936 |
| 6.38%, 03/30/62, (5-year CMT + 3.999%)<sup>(a)</sup> | &nbsp;&nbsp; 305 | 282457 |
| Radiate Holdco LLC/Radiate Finance Inc. |  |  |
| 4.50%, 09/15/26<sup>(b)</sup> | &nbsp;&nbsp; 295 | 255937 |
| 6.50%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 137095 |
| Scripps Escrow II Inc., 3.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 160 | 124430 |
| Scripps Escrow Inc., 5.88%, 07/15/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 135 | 119052 |
| Sinclair Television Group Inc., 5.13%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 100 | 88499 |
| Sirius XM Radio Inc. |  |  |
| 3.13%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 308 | 295230 |
| 4.00%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 620 | 579833 |
| 5.00%, 08/01/27<sup>(b)</sup> | &nbsp;&nbsp; 430 | 421557 |
| 5.50%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 380 | 368761 |
| Sunrise HoldCo IV BV, 5.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 148126 |
| TCI Communications Inc. |  |  |
| 7.13%, 02/15/28 | &nbsp;&nbsp; 35 | 37509 |
| 7.88%, 02/15/26 | &nbsp;&nbsp; 50 | 51939 |
| TEGNA Inc. |  |  |
| 4.63%, 03/15/28 | &nbsp;&nbsp; 295 | 278157 |
| 4.75%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 185 | 183391 |
| 5.00%, 09/15/29 | &nbsp;&nbsp; 300 | 279879 |
| Telenet Finance Luxembourg Notes SARL, 5.50%, <br> 03/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 194620 |
| Townsquare Media Inc., 6.88%, 02/01/26<sup>(b)</sup> | &nbsp;&nbsp; 170 | 169490 |
| TWDC Enterprises 18 Corp. |  |  |
| 1.85%, 07/30/26 | &nbsp;&nbsp; 390 | 372903 |
| 2.95%, 06/15/27 | &nbsp;&nbsp; 290 | 278922 |
| 3.00%, 02/13/26 | &nbsp;&nbsp; 245 | 240276 |
| Univision Communications Inc. |  |  |
| 4.50%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 335 | 297613 |
| 6.63%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 455 | 452113 |
| 8.00%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 420 | 426810 |
| Urban One Inc., 7.38%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 148388 |
| Videotron Ltd. |  |  |
| 3.63%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 105 | 97807 |
| 5.13%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 240 | 238390 |
| Virgin Media Secured Finance PLC, 5.50%, <br> 05/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 420 | 397632 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Virgin Media Vendor Financing Notes IV DAC, <br> 5.00%, 07/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; $165 | $157698 |
| Walt Disney Co. (The) |  |  |
| 1.75%, 01/13/26 | &nbsp;&nbsp; 487 | 471129 |
| 2.00%, 09/01/29 | &nbsp;&nbsp; 530 | 471176 |
| 2.20%, 01/13/28 | &nbsp;&nbsp; 485 | 452962 |
| 3.38%, 11/15/26 | &nbsp;&nbsp; 105 | 102878 |
| 3.70%, 03/23/27 | &nbsp;&nbsp; 150 | 147588 |
| Ziggo Bond Co. BV, 6.00%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 199637 |
|  |  | 32564824 |
| **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** |
| Advanced Drainage Systems Inc., 5.00%, <br> 09/30/27<sup>(b)</sup><br>| &nbsp;&nbsp; 120 | 117908 |
| Park-Ohio Industries Inc., 6.63%, 04/15/27 | &nbsp;&nbsp; 130 | 126600 |
| Roller Bearing Co of America Inc., 4.38%, <br> 10/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 140884 |
| Timken Co. (The), 4.50%, 12/15/28 | &nbsp;&nbsp; 120 | 117049 |
|  |  | 502441 |
| **Mining — 0.3%** | **Mining — 0.3%** | **Mining — 0.3%** |
| Alcoa Nederland Holding BV |  |  |
| 4.13%, 03/31/29<sup>(b)</sup> | &nbsp;&nbsp; 50 | 47011 |
| 5.50%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 250 | 248782 |
| 6.13%, 05/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 175629 |
| Anglo American Capital PLC |  |  |
| 3.88%, 03/16/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190605 |
| 4.00%, 09/11/27<sup>(b)</sup> | &nbsp;&nbsp; 20 | 19462 |
| 4.50%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 390 | 383056 |
| 4.75%, 04/10/27<sup>(b)</sup> | &nbsp;&nbsp; 235 | 233497 |
| AngloGold Ashanti Holdings PLC, 3.38%, 11/01/28 | &nbsp;&nbsp; 200 | 184497 |
| BHP Billiton Finance USA Ltd. |  |  |
| 4.75%, 02/28/28 | &nbsp;&nbsp; 374 | 375877 |
| 4.88%, 02/27/26 | &nbsp;&nbsp; 380 | 381438 |
| 5.10%, 09/08/28 | &nbsp;&nbsp; 345 | 350173 |
| 5.25%, 09/08/26 | &nbsp;&nbsp; 370 | 374310 |
| 6.42%, 03/01/26 | &nbsp;&nbsp; 35 | 35756 |
| Chalco Hong Kong Investment Co. Ltd., 2.10%, <br> 07/28/26<sup>(d)</sup><br>| &nbsp;&nbsp; 300 | 285244 |
| Chinalco Capital Holdings Ltd. |  |  |
| 2.13%, 06/03/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 383029 |
| 2.95%, 02/24/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191771 |
| 4.75%, 02/14/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199232 |
| Cia. de Minas Buenaventura SAA, 5.50%, <br> 07/23/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 196463 |
| Coeur Mining Inc., 5.13%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 95732 |
| Compass Minerals International Inc., 6.75%, <br> 12/01/27<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 170 | 167634 |
| Constellium SE, 3.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 135790 |
| Corp. Nacional del Cobre de Chile, 3.63%, <br> 08/01/27<sup>(d)</sup><br>| &nbsp;&nbsp; 600 | 578752 |
| Endeavour Mining PLC, 5.00%, 10/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194217 |
| First Quantum Minerals Ltd. |  |  |
| 6.88%, 10/15/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 397432 |
| 9.38%, 03/01/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 425485 |
| FMG Resources August 2006 Pty. Ltd., 4.50%, <br> 09/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 220 | 214506 |
| Freeport Indonesia PT, 4.76%, 04/14/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199370 |
| Freeport-McMoRan Inc. |  |  |
| 4.13%, 03/01/28 | &nbsp;&nbsp; 240 | 233559 |
| 4.38%, 08/01/28 | &nbsp;&nbsp; 160 | 155941 |
| 5.25%, 09/01/29 | &nbsp;&nbsp; 5 | 5005 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| Glencore Funding LLC |  |  |
| 1.63%, 04/27/26<sup>(b)</sup> | &nbsp;&nbsp; $250 | $238571 |
| 3.88%, 10/27/27<sup>(b)</sup> | &nbsp;&nbsp; 95 | 92402 |
| 4.00%, 03/27/27<sup>(b)</sup> | &nbsp;&nbsp; 405 | 397111 |
| 5.34%, 04/04/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 175 | 176937 |
| 5.37%, 04/04/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 355017 |
| 5.40%, 05/08/28<sup>(b)</sup> | &nbsp;&nbsp; 455 | 461698 |
| 6.13%, 10/06/28<sup>(b)</sup> | &nbsp;&nbsp; 165 | 171643 |
| Hecla Mining Co., 7.25%, 02/15/28 | &nbsp;&nbsp; 165 | 166769 |
| Hudbay Minerals Inc. |  |  |
| 4.50%, 04/01/26<sup>(d)</sup> | &nbsp;&nbsp; 300 | 296284 |
| 6.13%, 04/01/29<sup>(d)</sup> | &nbsp;&nbsp; 175 | 176167 |
| Indonesia Asahan Aluminium PT/Mineral Industri <br> Indonesia Persero PT, 6.53%, 11/15/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 209628 |
| JW Aluminum Continuous Cast Co., 10.25%, <br> 06/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 95 | 95322 |
| Kaiser Aluminum Corp., 4.63%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 162119 |
| Kinross Gold Corp., 4.50%, 07/15/27 | &nbsp;&nbsp; 85 | 84087 |
| Minmetals Bounteous Finance BVI Ltd., 4.20%, <br> 07/27/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 197353 |
| New Gold Inc., 7.50%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 144 | 146291 |
| Newcastle Coal Infrastructure Group Pty. Ltd., <br> 4.40%, 09/29/27<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 107 | 104302 |
| Newmont Corp./Newcrest Finance Pty. Ltd., 5.30%, <br> 03/15/26<br>| &nbsp;&nbsp; 20 | 20174 |
| Novelis Corp., 3.25%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 265 | 254843 |
| Perenti Finance Pty Ltd., 6.50%, 10/07/25<sup>(b)</sup> | &nbsp;&nbsp; 94 | 93559 |
| Rio Tinto Finance USA Ltd., 7.13%, 07/15/28 | &nbsp;&nbsp; 270 | 292048 |
| SDG Finance Ltd., 2.80%, 08/25/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191405 |
| Stillwater Mining Co., 4.00%, 11/16/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188899 |
| Vedanta Resources Finance II PLC |  |  |
| 9.25%, 04/23/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198672 |
| 10.88%, 09/17/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 205557 |
| 10.88%, 09/17/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205558 |
| 13.88%, 12/09/28<sup>(d)</sup> | &nbsp;&nbsp; 334 | 335079 |
| Vedanta Resources Ltd., 13.88%, 12/09/28<sup>(d)</sup> | &nbsp;&nbsp; 188 | 191549 |
| WE Soda Investments Holding PLC, 9.50%, <br> 10/06/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 206282 |
|  |  | 12974581 |
| **Multi-National — 0.2%** | **Multi-National — 0.2%** | **Multi-National — 0.2%** |
| African Development Bank, 4.13%, 02/25/27 | &nbsp;&nbsp; 620 | 618180 |
| Asian Infrastructure Investment Bank (The), 4.13%, <br> 01/18/29<br>| &nbsp;&nbsp; 1070 | 1066574 |
| Dexia SA, 4.50%, 03/19/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 550 | 550825 |
| ICDPS Sukuk Ltd., 4.95%, 02/14/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201087 |
| International Bank for Reconstruction & <br> Development, 4.50%, 06/26/28<br>| &nbsp;&nbsp; 20 | 19974 |
| International Development Association |  |  |
| 0.88%, 04/28/26<sup>(b)</sup> | &nbsp;&nbsp; 45 | 42754 |
| 4.88%, 11/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 865 | 886242 |
| International Finance Facility for Immunisation Co., <br> 1.00%, 04/21/26<sup>(d)</sup><br>| &nbsp;&nbsp; 20 | 19010 |
| Isdb Trust Services No. 2 SARL |  |  |
| 3.21%, 04/28/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194325 |
| 4.60%, 03/14/28<sup>(d)</sup> | &nbsp;&nbsp; 2300 | 2314118 |
| New Development Bank (The), 1.13%, 04/27/26<sup>(d)</sup> | &nbsp;&nbsp; 500 | 471768 |
|  |  | 6384857 |
| **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** |
| CDW LLC/CDW Finance Corp. |  |  |
| 2.67%, 12/01/26 | &nbsp;&nbsp; 376 | 358956 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Office & Business Equipment (continued)** | **Office & Business Equipment (continued)** | **Office & Business Equipment (continued)** |
| 3.25%, 02/15/29 | &nbsp;&nbsp; $185 | $170906 |
| 3.28%, 12/01/28 | &nbsp;&nbsp; 100 | 93142 |
| 4.25%, 04/01/28 | &nbsp;&nbsp; 275 | 267600 |
| Pitney Bowes Inc. |  |  |
| 6.88%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 120 | 118753 |
| 7.25%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 105 | 103183 |
| Xerox Holdings Corp., 5.50%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 225 | 184806 |
|  |  | 1297346 |
| **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** |
| Interface Inc., 5.50%, 12/01/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 97566 |
| Steelcase Inc., 5.13%, 01/18/29 | &nbsp;&nbsp; 150 | 144563 |
|  |  | 242129 |
| **Oil & Gas — 1.3%** | **Oil & Gas — 1.3%** | **Oil & Gas — 1.3%** |
| Adnoc Murban Rsc Ltd., 4.25%, 09/11/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 194618 |
| Aethon United BR LP/Aethon United Finance Corp., <br> 7.50%, 10/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 285 | 286867 |
| Aker BP ASA, 5.60%, 06/13/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 152587 |
| Antero Resources Corp., 7.63%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 165 | 169593 |
| Apache Corp., 4.38%, 10/15/28 | &nbsp;&nbsp; 50 | 48289 |
| Ascent Resources Utica Holdings LLC/ARU <br> Finance Corp.<br>|  |  |
| 5.88%, 06/30/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 120740 |
| 8.25%, 12/31/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 204100 |
| Bapco Energies BSCC, 7.50%, 10/25/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 412115 |
| Berry Petroleum Co. LLC, 7.00%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 145 | 141487 |
| Borr IHC Ltd./Borr Finance LLC, 10.00%, <br> 11/15/28<sup>(d)</sup><br>| &nbsp;&nbsp; 386 | 393769 |
| BP Capital Markets America Inc. |  |  |
| 3.02%, 01/16/27 | &nbsp;&nbsp; 265 | 256387 |
| 3.12%, 05/04/26 | &nbsp;&nbsp; 312 | 305577 |
| 3.41%, 02/11/26 | &nbsp;&nbsp; 372 | 367051 |
| 3.54%, 04/06/27 | &nbsp;&nbsp; 180 | 175775 |
| 3.59%, 04/14/27 | &nbsp;&nbsp; 215 | 210099 |
| 3.94%, 09/21/28 | &nbsp;&nbsp; 150 | 146075 |
| 4.23%, 11/06/28 | &nbsp;&nbsp; 619 | 608838 |
| 4.70%, 04/10/29 | &nbsp;&nbsp; 325 | 324339 |
| 4.97%, 10/17/29 | &nbsp;&nbsp; 200 | 201903 |
| 5.02%, 11/17/27 | &nbsp;&nbsp; 280 | 283638 |
| BP Capital Markets PLC |  |  |
| 3.28%, 09/19/27 | &nbsp;&nbsp; 520 | 502030 |
| 3.72%, 11/28/28 | &nbsp;&nbsp; 245 | 236165 |
| BPRL International Singapore Pte Ltd., 4.38%, <br> 01/18/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 197455 |
| California Resources Corp. |  |  |
| 7.13%, 02/01/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 78 | 78266 |
| 8.25%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 265 | 267630 |
| Calumet Specialty Products Partners LP/Calumet <br> Finance Corp.<br>|  |  |
| 8.13%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 120 | 120438 |
| 9.75%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 105 | 107883 |
| Canacol Energy Ltd., 5.75%, 11/24/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 103731 |
| Canadian Natural Resources Ltd., 3.85%, 06/01/27 | &nbsp;&nbsp; 457 | 446934 |
| Cenovus Energy Inc., 4.25%, 04/15/27 | &nbsp;&nbsp; 250 | 246441 |
| Chevron Corp. |  |  |
| 2.00%, 05/11/27 | &nbsp;&nbsp; 445 | 420109 |
| 2.95%, 05/16/26 | &nbsp;&nbsp; 265 | 259345 |
| 3.33%, 11/17/25 | &nbsp;&nbsp; 355 | 350801 |
| Chevron USA Inc., 1.02%, 08/12/27 | &nbsp;&nbsp; 145 | 132453 |
| Chord Energy Corp., 6.38%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 155 | 155236 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Civitas Resources Inc. |  |  |
| 5.00%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; $152 | $149311 |
| 8.38%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 440 | 454946 |
| CNOOC Finance 2015 USA LLC, 4.38%, 05/02/28 | &nbsp;&nbsp; 400 | 398273 |
| CNX Resources Corp., 6.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 148711 |
| Comstock Resources Inc., 6.75%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 495 | 474165 |
| ConocoPhillips Co., 6.95%, 04/15/29 | &nbsp;&nbsp; 300 | 328609 |
| Continental Resources Inc./OK |  |  |
| 2.27%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 342 | 322420 |
| 4.38%, 01/15/28 | &nbsp;&nbsp; 285 | 276461 |
| Cosan Luxembourg SA, 5.50%, 09/20/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192558 |
| Coterra Energy Inc. |  |  |
| 3.90%, 05/15/27 | &nbsp;&nbsp; 77 | 75033 |
| 4.38%, 03/15/29 | &nbsp;&nbsp; 100 | 96750 |
| Crescent Energy Finance LLC, 9.25%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 335 | 351784 |
| CVR Energy Inc. |  |  |
| 5.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 135 | 123251 |
| 8.50%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 193712 |
| Devon Energy Corp. |  |  |
| 5.25%, 10/15/27 | &nbsp;&nbsp; 135 | 135589 |
| 5.85%, 12/15/25 | &nbsp;&nbsp; 335 | 337302 |
| 5.88%, 06/15/28 | &nbsp;&nbsp; 30 | 30218 |
| Diamondback Energy Inc. |  |  |
| 3.25%, 12/01/26 | &nbsp;&nbsp; 306 | 297070 |
| 5.20%, 04/18/27 | &nbsp;&nbsp; 255 | 257609 |
| Ecopetrol SA, 8.63%, 01/19/29 | &nbsp;&nbsp; 400 | 424375 |
| Encino Acquisition Partners Holdings LLC, 8.50%, <br> 05/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 250 | 251310 |
| Energian Israel Finance Ltd. |  |  |
| 4.88%, 03/30/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 193750 |
| 5.38%, 03/30/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | 270244 |
| Eni SpA |  |  |
| 4.25%, 05/09/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 293076 |
| Series X-R, 4.75%, 09/12/28<sup>(b)</sup> | &nbsp;&nbsp; 245 | 244356 |
| EnQuest PLC, 11.63%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 100 | 100743 |
| EOG Resources Inc., 4.15%, 01/15/26 | &nbsp;&nbsp; 60 | 59628 |
| EQT Corp. |  |  |
| 3.13%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 214 | 207344 |
| 3.90%, 10/01/27 | &nbsp;&nbsp; 485 | 472211 |
| 5.00%, 01/15/29 | &nbsp;&nbsp; 110 | 108795 |
| 5.70%, 04/01/28 | &nbsp;&nbsp; 45 | 45840 |
| Equinor ASA |  |  |
| 1.75%, 01/22/26 | &nbsp;&nbsp; 892 | 863228 |
| 3.00%, 04/06/27 | &nbsp;&nbsp; 140 | 135591 |
| 3.63%, 09/10/28 | &nbsp;&nbsp; 655 | 634600 |
| 7.25%, 09/23/27 | &nbsp;&nbsp; 75 | 80534 |
| Expand Energy Corp. |  |  |
| 5.38%, 02/01/29 | &nbsp;&nbsp; 250 | 246195 |
| 5.50%, 02/01/26<sup>(b)</sup> | &nbsp;&nbsp; 175 | 174740 |
| 5.88%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 160 | 159927 |
| 6.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 280 | 283098 |
| 8.38%, 09/15/28 | &nbsp;&nbsp; 90 | 92599 |
| Exxon Mobil Corp. |  |  |
| 2.28%, 08/16/26 | &nbsp;&nbsp; 217 | 209248 |
| 2.44%, 08/16/29 | &nbsp;&nbsp; 355 | 324307 |
| 3.04%, 03/01/26 | &nbsp;&nbsp; 717 | 703995 |
| 3.29%, 03/19/27 | &nbsp;&nbsp; 426 | 417276 |
| Geopark Ltd., 5.50%, 01/17/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188012 |
| Global Marine Inc., 7.00%, 06/01/28 | &nbsp;&nbsp; 80 | 75660 |
| Gran Tierra Energy Inc., 9.50%, 10/15/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 184685 |
| Greenfire Resources Ltd., 12.00%, 10/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 84 | 90090 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| GS Caltex Corp., 4.50%, 01/05/26<sup>(d)</sup> | &nbsp;&nbsp; $200 | $198758 |
| Gulfport Energy Operating Corp., 6.75%, <br> 09/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 175 | 175815 |
| Harbour Energy PLC, 5.50%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 150 | 149205 |
| Hess Corp., 4.30%, 04/01/27 | &nbsp;&nbsp; 417 | 412540 |
| HF Sinclair Corp. |  |  |
| 5.00%, 02/01/28 | &nbsp;&nbsp; 110 | 108913 |
| 5.88%, 04/01/26 | &nbsp;&nbsp; 288 | 290479 |
| 6.38%, 04/15/27 | &nbsp;&nbsp; 115 | 116453 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| 5.75%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 191896 |
| 6.25%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195254 |
| Hindustan Petroleum Corp. Ltd., 4.00%, 07/12/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194896 |
| Ithaca Energy North Sea PLC, 8.13%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200223 |
| Korea National Oil Corp., 2.63%, 04/14/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 387955 |
| Kraken Oil & Gas Partners LLC, 7.63%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 135 | 133378 |
| Leviathan Bond Ltd., 6.50%, 06/30/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 189436 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil & <br> Gas Finance Corp., 6.00%, 08/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 125 | 124744 |
| Marathon Oil Corp. |  |  |
| 4.40%, 07/15/27 | &nbsp;&nbsp; 402 | 398525 |
| 5.30%, 04/01/29 | &nbsp;&nbsp; 150 | 152537 |
| Marathon Petroleum Corp. |  |  |
| 3.80%, 04/01/28 | &nbsp;&nbsp; 285 | 275903 |
| 5.13%, 12/15/26 | &nbsp;&nbsp; 100 | 100610 |
| Matador Resources Co., 6.88%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 178029 |
| Medco Maple Tree Pte Ltd., 8.96%, 04/27/29<sup>(d)</sup> | &nbsp;&nbsp; 250 | 262661 |
| MEG Energy Corp., 5.88%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195654 |
| Nabors Industries Inc., 7.38%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 240 | 240392 |
| Nabors Industries Ltd., 7.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 123752 |
| Nogaholding Sukuk Ltd., 5.25%, 04/08/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198378 |
| Northern Oil & Gas Inc., 8.13%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 223 | 225156 |
| Occidental Petroleum Corp. |  |  |
| 5.00%, 08/01/27 | &nbsp;&nbsp; 260 | 259830 |
| 5.20%, 08/01/29 | &nbsp;&nbsp; 440 | 438386 |
| 5.50%, 12/01/25 | &nbsp;&nbsp; 200 | 200490 |
| 5.55%, 03/15/26 | &nbsp;&nbsp; 295 | 296773 |
| 6.38%, 09/01/28<sup>(c)</sup> | &nbsp;&nbsp; 100 | 103547 |
| 8.50%, 07/15/27<sup>(c)</sup> | &nbsp;&nbsp; 230 | 246476 |
| Oil India International Pte Ltd., 4.00%, 04/21/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195404 |
| ONGC Videsh Vankorneft Pte Ltd., 3.75%, <br> 07/27/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 195831 |
| OQ SAOC, 5.13%, 05/06/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198984 |
| Ovintiv Inc. |  |  |
| 5.38%, 01/01/26 | &nbsp;&nbsp; 235 | 235300 |
| 5.65%, 05/15/28 | &nbsp;&nbsp; 290 | 293847 |
| Parkland Corp., 5.88%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 173213 |
| Patterson-UTI Energy Inc., 3.95%, 02/01/28 | &nbsp;&nbsp; 210 | 200080 |
| PBF Holding Co. LLC/PBF Finance Corp., 6.00%, <br> 02/15/28<br>| &nbsp;&nbsp; 279 | 271156 |
| Permian Resources Operating LLC |  |  |
| 5.38%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 105 | 104459 |
| 5.88%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 197294 |
| 8.00%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 190 | 195259 |
| Pertamina Persero PT |  |  |
| 1.40%, 02/09/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 381713 |
| 3.65%, 07/30/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189942 |
| Petrobras Global Finance BV, 6.00%, 01/27/28<sup>(c)</sup> | &nbsp;&nbsp; 400 | 405362 |
| Petroleos Mexicanos |  |  |
| 4.50%, 01/23/26 | &nbsp;&nbsp; 350 | 341051 |
| 5.35%, 02/12/28 | &nbsp;&nbsp; 600 | 558674 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| 6.49%, 01/23/27 | &nbsp;&nbsp; $570 | $561782 |
| 6.50%, 03/13/27 | &nbsp;&nbsp; 1190 | 1168130 |
| 6.50%, 01/23/29 | &nbsp;&nbsp; 400 | 375637 |
| 6.88%, 08/04/26 | &nbsp;&nbsp; 850 | 849269 |
| 8.75%, 06/02/29<sup>(c)</sup> | &nbsp;&nbsp; 500 | 506314 |
| Petron Corp., 5.95%, (5-year CMT + 7.574%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 200 | 199157 |
| Petronas Energy Canada Ltd., 2.11%, 03/23/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 183069 |
| Petrorio Luxembourg Holding SARL, 6.13%, <br> 06/09/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 199718 |
| Phillips 66 |  |  |
| 1.30%, 02/15/26 | &nbsp;&nbsp; 225 | 215605 |
| 3.90%, 03/15/28 | &nbsp;&nbsp; 240 | 233538 |
| Phillips 66 Co. |  |  |
| 3.55%, 10/01/26 | &nbsp;&nbsp; 148 | 144940 |
| 3.75%, 03/01/28 | &nbsp;&nbsp; 50 | 48406 |
| 4.95%, 12/01/27 | &nbsp;&nbsp; 240 | 242089 |
| Pioneer Natural Resources Co. |  |  |
| 1.13%, 01/15/26 | &nbsp;&nbsp; 315 | 302516 |
| 5.10%, 03/29/26 | &nbsp;&nbsp; 405 | 408096 |
| Precision Drilling Corp. |  |  |
| 6.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 130 | 129327 |
| 7.13%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 94 | 93881 |
| PTTEP Treasury Center Co. Ltd., 2.59%, <br> 06/10/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 188985 |
| Puma International Financing SA, 7.75%, <br> 04/25/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 204986 |
| Qatar Energy, 1.38%, 09/12/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 564911 |
| QatarEnergy LNG S3 |  |  |
| 5.84%, 09/30/27<sup>(b)</sup> | &nbsp;&nbsp; 137 | 138700 |
| 6.33%, 09/30/27<sup>(b)</sup> | &nbsp;&nbsp; 117 | 119575 |
| Raizen Fuels Finance SA, 5.30%, 01/20/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199396 |
| Range Resources Corp., 8.25%, 01/15/29 | &nbsp;&nbsp; 200 | 206153 |
| Reliance Industries Ltd., 3.67%, 11/30/27<sup>(d)</sup> | &nbsp;&nbsp; 250 | 241725 |
| SA Global Sukuk Ltd. |  |  |
| 1.60%, 06/17/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 569140 |
| 4.25%, 10/02/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 194585 |
| Santos Finance Ltd., 5.25%, 03/13/29<sup>(d)</sup> | &nbsp;&nbsp; 300 | 297409 |
| Saturn Oil & Gas Inc., 9.63%, 06/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 160 | 158105 |
| Saudi Arabian Oil Co. |  |  |
| 1.63%, 11/24/25<sup>(d)</sup> | &nbsp;&nbsp; 400 | 386120 |
| 3.50%, 04/16/29<sup>(d)</sup> | &nbsp;&nbsp; 800 | 755636 |
| SEPLAT Energy PLC, 7.75%, 04/01/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199326 |
| Shelf Drilling Holdings Ltd., 9.63%, 04/15/29<sup>(d)</sup> | &nbsp;&nbsp; 386 | 350170 |
| Shell International Finance BV |  |  |
| 2.50%, 09/12/26 | &nbsp;&nbsp; 490 | 472846 |
| 2.88%, 05/10/26 | &nbsp;&nbsp; 287 | 280266 |
| 3.88%, 11/13/28 | &nbsp;&nbsp; 420 | 409892 |
| SierraCol Energy Andina LLC, 6.00%, 06/15/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 181876 |
| Sinopec Group Overseas Development 2016 Ltd., <br> 2.75%, 09/29/26<sup>(d)</sup><br>| &nbsp;&nbsp; 600 | 579378 |
| Sinopec Group Overseas Development 2018 Ltd., <br> 1.45%, 01/08/26<sup>(d)</sup><br>| &nbsp;&nbsp; 800 | 770284 |
| Sitio Royalties Operating Partnership LP/Sitio <br> Finance Corp., 7.88%, 11/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 207688 |
| SM Energy Co. |  |  |
| 6.50%, 07/15/28 | &nbsp;&nbsp; 120 | 119654 |
| 6.63%, 01/15/27 | &nbsp;&nbsp; 135 | 134879 |
| 6.75%, 09/15/26 | &nbsp;&nbsp; 140 | 140090 |
| 6.75%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 220 | 218712 |
| Strathcona Resources Ltd., 6.88%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 175 | 173680 |
| Sunoco LP, 7.00%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 50 | 51636 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Sunoco LP/Sunoco Finance Corp. |  |  |
| 4.50%, 05/15/29 | &nbsp;&nbsp; $250 | $237624 |
| 5.88%, 03/15/28 | &nbsp;&nbsp; 150 | 149412 |
| 6.00%, 04/15/27 | &nbsp;&nbsp; 210 | 210130 |
| 7.00%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 174821 |
| Talos Production Inc., 9.00%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 195 | 200786 |
| Tengizchevroil Finance Co. International Ltd., <br> 4.00%, 08/15/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 193519 |
| TGNR Intermediate Holdings LLC, 5.50%, <br> 10/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 189062 |
| TotalEnergies Capital International SA, 3.46%, <br> 02/19/29<br>| &nbsp;&nbsp; 365 | 349958 |
| TotalEnergies Capital SA, 3.88%, 10/11/28 | &nbsp;&nbsp; 280 | 273141 |
| Transocean Aquila Ltd., 8.00%, 09/30/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 102436 |
| Transocean Inc. |  |  |
| 8.00%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 171 | 170560 |
| 8.25%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 270 | 271317 |
| Transocean Poseidon Ltd., 6.88%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 105 | 105147 |
| Transocean Titan Financing Ltd., 8.38%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 180318 |
| Tullow Oil PLC, 10.25%, 05/15/26<sup>(d)</sup> | &nbsp;&nbsp; 361 | 331249 |
| Valero Energy Corp. |  |  |
| 2.15%, 09/15/27 | &nbsp;&nbsp; 165 | 154019 |
| 3.40%, 09/15/26 | &nbsp;&nbsp; 60 | 58453 |
| 4.00%, 04/01/29 | &nbsp;&nbsp; 100 | 96468 |
| 4.35%, 06/01/28 | &nbsp;&nbsp; 40 | 39454 |
| Vantage Drilling International Ltd., 9.50%, <br> 02/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 40 | 40071 |
| Var Energi ASA, 7.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 320 | 339914 |
| Viper Energy Inc., 5.38%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 148263 |
| W&T Offshore Inc., 11.75%, 02/01/26<sup>(b)</sup> | &nbsp;&nbsp; 100 | 101022 |
| Wildfire Intermediate Holdings LLC, 7.50%, <br> 10/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 65 | 62961 |
| Woodside Finance Ltd. |  |  |
| 3.70%, 09/15/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 320 | 312498 |
| 3.70%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 190 | 181564 |
| 4.50%, 03/04/29<sup>(b)</sup> | &nbsp;&nbsp; 445 | 433679 |
| YPF SA, 6.95%, 07/21/27<sup>(d)</sup> | &nbsp;&nbsp; 201 | 196105 |
|  |  | 51593834 |
| **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** |
| Archrock Partners LP/Archrock Partners <br> Finance Corp.<br>|  |  |
| 6.25%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 270506 |
| 6.88%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 71 | 71188 |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc.<br>|  |  |
| 2.06%, 12/15/26 | &nbsp;&nbsp; 300 | 285387 |
| 3.34%, 12/15/27 | &nbsp;&nbsp; 460 | 442478 |
| Bristow Group Inc., 6.88%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 129063 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 194 | 201641 |
| Halliburton Co., 3.80%, 11/15/25 | &nbsp;&nbsp; 257 | 254212 |
| KCA Deutag UK Finance PLC, 9.88%, 12/01/25<sup>(b)</sup> | &nbsp;&nbsp; 160 | 160611 |
| KLX Energy Services Holdings Inc., 11.50%, <br> 11/01/25<sup>(b)</sup><br>| &nbsp;&nbsp; 85 | 82292 |
| Kodiak Gas Services LLC, 7.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 260 | 267495 |
| Oceaneering International Inc. |  |  |
| 6.00%, 02/01/28 | &nbsp;&nbsp; 100 | 98172 |
| 6.00%, 02/01/28<sup>(c)</sup> | &nbsp;&nbsp; 75 | 73374 |
| Schlumberger Holdings Corp. |  |  |
| 4.00%, 12/21/25<sup>(b)</sup> | &nbsp;&nbsp; 335 | 331716 |
| 4.30%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196031 |
| 5.00%, 05/29/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 176187 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** |
| Schlumberger Investment SA, 4.50%, 05/15/28 | &nbsp;&nbsp; $525 | $524202 |
| Solaris Midstream Holdings LLC, 7.63%, <br> 04/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 160 | 160947 |
| USA Compression Partners LP/USA Compression <br> Finance Corp.<br>|  |  |
| 6.88%, 09/01/27 | &nbsp;&nbsp; 230 | 230828 |
| 7.13%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 305 | 310698 |
| Viridien, 8.75%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 160 | 154366 |
| Welltec International ApS, 8.25%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 70 | 71354 |
|  |  | 4492748 |
| **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |
| Amcor Finance USA Inc. |  |  |
| 3.63%, 04/28/26 | &nbsp;&nbsp; 160 | 157095 |
| 4.50%, 05/15/28 | &nbsp;&nbsp; 100 | 98215 |
| Amcor Group Finance PLC, 5.45%, 05/23/29 | &nbsp;&nbsp; 147 | 149059 |
| ARD Finance SA, 6.50%, 06/30/27, <br> (7.25% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 290 | 63454 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC<br>|  |  |
| 3.25%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 180298 |
| 4.00%, 09/01/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 263231 |
| 6.00%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 199503 |
| Ardagh Packaging Finance PLC/Ardagh Holdings <br> USA Inc.<br>|  |  |
| 4.13%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 350 | 304564 |
| 5.25%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 570 | 341942 |
| Ball Corp. |  |  |
| 4.88%, 03/15/26 | &nbsp;&nbsp; 75 | 74605 |
| 6.00%, 06/15/29 | &nbsp;&nbsp; 300 | 304708 |
| 6.88%, 03/15/28 | &nbsp;&nbsp; 250 | 256957 |
| Berry Global Inc. |  |  |
| 1.57%, 01/15/26 | &nbsp;&nbsp; 562 | 539419 |
| 1.65%, 01/15/27 | &nbsp;&nbsp; 251 | 233875 |
| 4.50%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 125 | 123316 |
| 4.88%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; 143 | 142133 |
| 5.50%, 04/15/28 | &nbsp;&nbsp; 125 | 126504 |
| 5.63%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 185 | 184707 |
| Cascades Inc./Cascades USA Inc. |  |  |
| 5.13%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 75 | 74552 |
| 5.38%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 145 | 142526 |
| CCL Industries Inc., 3.25%, 10/01/26<sup>(b)</sup> | &nbsp;&nbsp; 5 | 4851 |
| Clearwater Paper Corp., 4.75%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | 92849 |
| Clydesdale Acquisition Holdings Inc., 6.63%, <br> 04/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 150819 |
| Crown Americas LLC/Crown Americas Capital Corp. <br> V, 4.25%, 09/30/26<br>| &nbsp;&nbsp; 155 | 151700 |
| Crown Americas LLC/Crown Americas Capital Corp. <br> VI, 4.75%, 02/01/26<br>| &nbsp;&nbsp; 250 | 247894 |
| Crown Cork & Seal Co. Inc., 7.38%, 12/15/26 | &nbsp;&nbsp; 111 | 115302 |
| Graham Packaging Co. Inc., 7.13%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 165072 |
| Graphic Packaging International LLC |  |  |
| 1.51%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; 207 | 195512 |
| 3.50%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 145 | 135499 |
| 3.50%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 91314 |
| 4.75%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; 125 | 122638 |
| Intelligent Packaging Ltd. Finco Inc./Intelligent <br> Packaging Ltd. Co-Issuer LLC, 6.00%, <br> 09/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 221925 |
| Iris Holdings Inc., 10.00%, 12/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 125 | 109813 |
| Klabin Austria GmbH, 5.75%, 04/03/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199486 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| LABL Inc. |  |  |
| 5.88%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; $150 | $139392 |
| 9.50%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 115 | 117832 |
| 10.50%, 07/15/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 220 | 217848 |
| Mauser Packaging Solutions Holding Co. |  |  |
| 7.88%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 805 | 827101 |
| 9.25%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 435 | 444914 |
| Owens-Brockway Glass Container Inc., 6.63%, <br> 05/13/27<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 199111 |
| Packaging Corp. of America, 3.40%, 12/15/27 | &nbsp;&nbsp; 150 | 144395 |
| Pactiv Evergreen Group Issuer Inc./Pactiv <br> Evergreen Group Issuer LLC, 4.00%, 10/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 340 | 324838 |
| Pactiv Evergreen Group Issuer LLC/Pactiv <br> Evergreen Group Issuer Inc., 4.38%, 10/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 120 | 112885 |
| Pactiv LLC |  |  |
| 7.95%, 12/15/25<sup>(c)</sup> | &nbsp;&nbsp; 80 | 81765 |
| 8.38%, 04/15/27 | &nbsp;&nbsp; 60 | 63062 |
| Sealed Air Corp. |  |  |
| 1.57%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 254 | 237121 |
| 4.00%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 182 | 174274 |
| 5.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 120758 |
| Sealed Air Corp./Sealed Air Corp. U.S., 6.13%, <br> 02/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 240 | 242267 |
| Silgan Holdings Inc. |  |  |
| 1.40%, 04/01/26<sup>(b)</sup> | &nbsp;&nbsp; 192 | 181643 |
| 4.13%, 02/01/28 | &nbsp;&nbsp; 190 | 181863 |
| Sonoco Products Co. |  |  |
| 2.25%, 02/01/27 | &nbsp;&nbsp; 230 | 217186 |
| 4.45%, 09/01/26 | &nbsp;&nbsp; 100 | 99346 |
| 4.60%, 09/01/29 | &nbsp;&nbsp; 160 | 155934 |
| Trident TPI Holdings Inc., 12.75%, 12/31/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 219482 |
| TriMas Corp., 4.13%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 116718 |
| Trivium Packaging Finance BV |  |  |
| 5.50%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 355 | 351807 |
| 8.50%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 215 | 214694 |
| WRKCo Inc. |  |  |
| 3.90%, 06/01/28 | &nbsp;&nbsp; 385 | 371402 |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 10 | 9722 |
| 4.65%, 03/15/26 | &nbsp;&nbsp; 404 | 402199 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 150 | 149556 |
|  |  | 12084452 |
| **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** |
| AbbVie Inc. |  |  |
| 2.95%, 11/21/26 | &nbsp;&nbsp; 1192 | 1155897 |
| 3.20%, 05/14/26 | &nbsp;&nbsp; 585 | 573815 |
| 4.25%, 11/14/28 | &nbsp;&nbsp; 505 | 499930 |
| 4.80%, 03/15/27 | &nbsp;&nbsp; 705 | 709766 |
| 4.80%, 03/15/29 | &nbsp;&nbsp; 775 | 780518 |
| AdaptHealth LLC |  |  |
| 4.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 136294 |
| 6.13%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 123271 |
| Astrazeneca Finance LLC |  |  |
| 1.20%, 05/28/26 | &nbsp;&nbsp; 399 | 379749 |
| 1.75%, 05/28/28 | &nbsp;&nbsp; 470 | 426583 |
| 4.80%, 02/26/27 | &nbsp;&nbsp; 345 | 347693 |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 325 | 328139 |
| 4.88%, 03/03/28 | &nbsp;&nbsp; 365 | 368486 |
| AstraZeneca PLC |  |  |
| 0.70%, 04/08/26 | &nbsp;&nbsp; 367 | 348118 |
| 3.13%, 06/12/27 | &nbsp;&nbsp; 100 | 96841 |
| 3.38%, 11/16/25 | &nbsp;&nbsp; 583 | 577255 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 4.00%, 01/17/29 | &nbsp;&nbsp; $300 | $293831 |
| Bausch Health Americas Inc. |  |  |
| 8.50%, 01/31/27<sup>(b)</sup> | &nbsp;&nbsp; 205 | 164503 |
| 9.25%, 04/01/26<sup>(b)</sup> | &nbsp;&nbsp; 240 | 231799 |
| Bausch Health Companies Inc. |  |  |
| 4.88%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 440 | 339361 |
| 5.00%, 01/30/28<sup>(b)</sup> | &nbsp;&nbsp; 135 | 86406 |
| 5.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 71418 |
| 5.50%, 11/01/25<sup>(b)</sup> | &nbsp;&nbsp; 505 | 495203 |
| 5.75%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 160 | 132800 |
| 6.13%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 320 | 289960 |
| 6.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 245 | 152652 |
| 7.00%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 60 | 39697 |
| 9.00%, 12/15/25<sup>(b)</sup> | &nbsp;&nbsp; 295 | 289332 |
| 11.00%, 09/30/28<sup>(b)</sup> | &nbsp;&nbsp; 520 | 478561 |
| Bayer Corp./New Jersey, 6.65%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 35 | 36188 |
| Bayer U.S. Finance II LLC |  |  |
| 4.25%, 12/15/25<sup>(b)</sup> | &nbsp;&nbsp; 865 | 856008 |
| 4.38%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 1060 | 1024846 |
| Bayer U.S. Finance LLC |  |  |
| 6.13%, 11/21/26<sup>(b)</sup> | &nbsp;&nbsp; 220 | 224812 |
| 6.25%, 01/21/29<sup>(b)</sup> | &nbsp;&nbsp; 270 | 279177 |
| Becton Dickinson & Co. |  |  |
| 3.70%, 06/06/27 | &nbsp;&nbsp; 622 | 607303 |
| 4.69%, 02/13/28 | &nbsp;&nbsp; 330 | 329804 |
| 4.87%, 02/08/29 | &nbsp;&nbsp; 80 | 80091 |
| 5.08%, 06/07/29 | &nbsp;&nbsp; 175 | 176969 |
| Bristol-Myers Squibb Co. |  |  |
| 0.75%, 11/13/25 | &nbsp;&nbsp; 318 | 305989 |
| 1.13%, 11/13/27 | &nbsp;&nbsp; 445 | 403467 |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 558 | 547213 |
| 3.25%, 02/27/27 | &nbsp;&nbsp; 5 | 4867 |
| 3.40%, 07/26/29 | &nbsp;&nbsp; 700 | 666099 |
| 3.45%, 11/15/27 | &nbsp;&nbsp; 120 | 116890 |
| 3.90%, 02/20/28 | &nbsp;&nbsp; 535 | 525094 |
| 4.90%, 02/22/27 | &nbsp;&nbsp; 190 | 191965 |
| 4.90%, 02/22/29 | &nbsp;&nbsp; 565 | 572162 |
| 4.95%, 02/20/26 | &nbsp;&nbsp; 255 | 256640 |
| Cardinal Health Inc. |  |  |
| 3.41%, 06/15/27 | &nbsp;&nbsp; 242 | 234298 |
| 5.13%, 02/15/29 | &nbsp;&nbsp; 200 | 201787 |
| Cencora Inc., 3.45%, 12/15/27 | &nbsp;&nbsp; 40 | 38611 |
| Cheplapharm Arzneimittel GmbH, 5.50%, <br> 01/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 193009 |
| CVS Health Corp. |  |  |
| 1.30%, 08/21/27 | &nbsp;&nbsp; 767 | 694649 |
| 2.88%, 06/01/26 | &nbsp;&nbsp; 629 | 609442 |
| 3.00%, 08/15/26 | &nbsp;&nbsp; 312 | 301914 |
| 3.25%, 08/15/29 | &nbsp;&nbsp; 555 | 509426 |
| 3.63%, 04/01/27 | &nbsp;&nbsp; 372 | 361179 |
| 4.30%, 03/25/28 | &nbsp;&nbsp; 1540 | 1501426 |
| 5.00%, 02/20/26 | &nbsp;&nbsp; 335 | 335188 |
| 5.00%, 01/30/29 | &nbsp;&nbsp; 340 | 338644 |
| 5.40%, 06/01/29 | &nbsp;&nbsp; 305 | 307893 |
| 6.25%, 06/01/27 | &nbsp;&nbsp; 50 | 51527 |
| Elanco Animal Health Inc., 6.65%, 08/28/28 | &nbsp;&nbsp; 250 | 256803 |
| Eli Lilly & Co. |  |  |
| 3.38%, 03/15/29 | &nbsp;&nbsp; 300 | 286925 |
| 4.15%, 08/14/27 | &nbsp;&nbsp; 250 | 248886 |
| 4.20%, 08/14/29 | &nbsp;&nbsp; 205 | 202337 |
| 4.50%, 02/09/27 | &nbsp;&nbsp; 320 | 320816 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 4.50%, 02/09/29 | &nbsp;&nbsp; $340 | $339973 |
| GlaxoSmithKline Capital Inc., 3.88%, 05/15/28 | &nbsp;&nbsp; 585 | 573036 |
| GlaxoSmithKline Capital PLC, 3.38%, 06/01/29 | &nbsp;&nbsp; 255 | 242453 |
| Grifols SA, 4.75%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 230 | 212377 |
| HLF Financing SARL LLC/Herbalife <br> International Inc.<br>|  |  |
| 4.88%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 180 | 123381 |
| 12.25%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 245 | 246422 |
| Jazz Securities DAC, 4.38%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 450 | 426309 |
| Johnson & Johnson |  |  |
| 0.95%, 09/01/27 | &nbsp;&nbsp; 575 | 525201 |
| 2.45%, 03/01/26 | &nbsp;&nbsp; 390 | 380277 |
| 2.90%, 01/15/28 | &nbsp;&nbsp; 600 | 574752 |
| 2.95%, 03/03/27 | &nbsp;&nbsp; 285 | 276615 |
| 4.80%, 06/01/29 | &nbsp;&nbsp; 305 | 309700 |
| McKesson Corp. |  |  |
| 0.90%, 12/03/25 | &nbsp;&nbsp; 180 | 173040 |
| 1.30%, 08/15/26 | &nbsp;&nbsp; 297 | 280806 |
| 4.25%, 09/15/29 | &nbsp;&nbsp; 150 | 146901 |
| 4.90%, 07/15/28 | &nbsp;&nbsp; 100 | 100954 |
| Mead Johnson Nutrition Co., 4.13%, 11/15/25 | &nbsp;&nbsp; 270 | 268701 |
| Merck & Co. Inc. |  |  |
| 0.75%, 02/24/26 | &nbsp;&nbsp; 450 | 429750 |
| 1.70%, 06/10/27 | &nbsp;&nbsp; 355 | 332454 |
| 1.90%, 12/10/28 | &nbsp;&nbsp; 280 | 253545 |
| 3.40%, 03/07/29 | &nbsp;&nbsp; 495 | 473142 |
| 4.05%, 05/17/28 | &nbsp;&nbsp; 160 | 158605 |
| Merck Sharp & Dohme Corp., 5.95%, 12/01/28 | &nbsp;&nbsp; 125 | 131509 |
| Mylan Inc., 4.55%, 04/15/28 | &nbsp;&nbsp; 180 | 176334 |
| Novartis Capital Corp. |  |  |
| 2.00%, 02/14/27 | &nbsp;&nbsp; 460 | 437614 |
| 3.00%, 11/20/25 | &nbsp;&nbsp; 570 | 562114 |
| 3.10%, 05/17/27 | &nbsp;&nbsp; 365 | 354437 |
| 3.80%, 09/18/29 | &nbsp;&nbsp; 225 | 218209 |
| Option Care Health Inc., 4.38%, 10/31/29<sup>(b)</sup> | &nbsp;&nbsp; 55 | 50560 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, <br> 4.13%, 04/30/28<sup>(b)</sup><br>| &nbsp;&nbsp; 625 | 592146 |
| Owens & Minor Inc., 4.50%, 03/31/29<sup>(b)</sup> | &nbsp;&nbsp; 105 | 94582 |
| P&L Development LLC/PLD Finance Corp. |  |  |
| 7.75%, 11/15/25<sup>(b)</sup> | &nbsp;&nbsp; 38 | 38301 |
| 12.00%, 12/02/24, 9.00% Cash and 3.50% PIK or <br> 12.00% Cash<sup>(b)</sup><br>| &nbsp;&nbsp; 123 | 123992 |
| Pfizer Inc. |  |  |
| 2.75%, 06/03/26 | &nbsp;&nbsp; 412 | 401597 |
| 3.00%, 12/15/26 | &nbsp;&nbsp; 465 | 451520 |
| 3.45%, 03/15/29 | &nbsp;&nbsp; 565 | 541334 |
| 3.60%, 09/15/28<sup>(c)</sup> | &nbsp;&nbsp; 320 | 310885 |
| Pfizer Investment Enterprises Pte Ltd. |  |  |
| 4.45%, 05/19/26 | &nbsp;&nbsp; 1000 | 998589 |
| 4.45%, 05/19/28 | &nbsp;&nbsp; 1135 | 1130837 |
| Pharmacia LLC, 6.60%, 12/01/28 | &nbsp;&nbsp; 185 | 198028 |
| PRA Health Sciences Inc., 2.88%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; 200 | 192963 |
| Sanofi SA, 3.63%, 06/19/28 | &nbsp;&nbsp; 15 | 14579 |
| Shire Acquisitions Investments Ireland DAC, 3.20%, <br> 09/23/26<br>| &nbsp;&nbsp; 421 | 411139 |
| Takeda Pharmaceutical Co. Ltd., 5.00%, 11/26/28 | &nbsp;&nbsp; 450 | 454190 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| 3.15%, 10/01/26 | &nbsp;&nbsp; 1100 | 1048524 |
| 4.75%, 05/09/27 | &nbsp;&nbsp; 300 | 291572 |
| 6.75%, 03/01/28 | &nbsp;&nbsp; 400 | 408543 |
| Utah Acquisition Sub Inc., 3.95%, 06/15/26 | &nbsp;&nbsp; 792 | 778934 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Viatris Inc., 2.30%, 06/22/27 | &nbsp;&nbsp; $310 | $289069 |
| Zoetis Inc. |  |  |
| 3.00%, 09/12/27 | &nbsp;&nbsp; 167 | 159998 |
| 3.90%, 08/20/28 | &nbsp;&nbsp; 155 | 150902 |
| 4.50%, 11/13/25 | &nbsp;&nbsp; 70 | 69819 |
| 5.40%, 11/14/25 | &nbsp;&nbsp; 70 | 70439 |
|  |  | 42119875 |
| **Pipelines — 0.9%** | **Pipelines — 0.9%** | **Pipelines — 0.9%** |
| Antero Midstream Partners LP/Antero Midstream <br> Finance Corp.<br>|  |  |
| 5.38%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 205 | 200137 |
| 5.75%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 230 | 229483 |
| 5.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 225 | 223839 |
| Blue Racer Midstream LLC/Blue Racer <br> Finance Corp.<br>|  |  |
| 6.63%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; 130 | 129868 |
| 7.00%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 135 | 138298 |
| Boardwalk Pipelines LP |  |  |
| 4.45%, 07/15/27 | &nbsp;&nbsp; 195 | 192756 |
| 4.80%, 05/03/29 | &nbsp;&nbsp; 100 | 98826 |
| 5.95%, 06/01/26 | &nbsp;&nbsp; 65 | 65711 |
| Buckeye Partners LP |  |  |
| 3.95%, 12/01/26 | &nbsp;&nbsp; 200 | 192195 |
| 4.13%, 12/01/27 | &nbsp;&nbsp; 155 | 148282 |
| 4.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 166555 |
| 6.88%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 105 | 106667 |
| Cheniere Corpus Christi Holdings LLC, 5.13%, <br> 06/30/27<br>| &nbsp;&nbsp; 452 | 454894 |
| Cheniere Energy Inc., 4.63%, 10/15/28 | &nbsp;&nbsp; 445 | 436433 |
| Cheniere Energy Partners LP, 4.50%, 10/01/29 | &nbsp;&nbsp; 550 | 529783 |
| Colorado Interstate Gas Co. LLC/Colorado <br> Interstate Issuing Corp., 4.15%, 08/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 147764 |
| Columbia Pipelines Holding Co. LLC |  |  |
| 6.04%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 246932 |
| 6.06%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; 175 | 177920 |
| DCP Midstream Operating LP |  |  |
| 5.13%, 05/15/29 | &nbsp;&nbsp; 25 | 25161 |
| 5.63%, 07/15/27 | &nbsp;&nbsp; 249 | 253430 |
| Delek Logistics Partners LP/Delek Logistics <br> Finance Corp.<br>|  |  |
| 7.13%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 130 | 128738 |
| 8.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 265 | 271555 |
| DT Midstream Inc., 4.13%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 325 | 305485 |
| Enbridge Inc. |  |  |
| 1.60%, 10/04/26 | &nbsp;&nbsp; 287 | 270535 |
| 3.70%, 07/15/27 | &nbsp;&nbsp; 150 | 146213 |
| 4.25%, 12/01/26 | &nbsp;&nbsp; 125 | 123814 |
| 5.25%, 04/05/27 | &nbsp;&nbsp; 175 | 177258 |
| 5.30%, 04/05/29 | &nbsp;&nbsp; 245 | 248601 |
| 5.90%, 11/15/26 | &nbsp;&nbsp; 270 | 275946 |
| 6.00%, 11/15/28 | &nbsp;&nbsp; 190 | 198154 |
| Energy Transfer LP |  |  |
| 3.90%, 07/15/26 | &nbsp;&nbsp; 220 | 216829 |
| 4.00%, 10/01/27 | &nbsp;&nbsp; 325 | 318130 |
| 4.15%, 09/15/29 | &nbsp;&nbsp; 175 | 168412 |
| 4.20%, 04/15/27 | &nbsp;&nbsp; 300 | 295753 |
| 4.40%, 03/15/27 | &nbsp;&nbsp; 102 | 101121 |
| 4.75%, 01/15/26 | &nbsp;&nbsp; 368 | 367451 |
| 4.95%, 05/15/28 | &nbsp;&nbsp; 30 | 30054 |
| 4.95%, 06/15/28 | &nbsp;&nbsp; 230 | 230478 |
| 5.25%, 04/15/29 | &nbsp;&nbsp; 420 | 423957 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 5.25%, 07/01/29 | &nbsp;&nbsp; $245 | $247329 |
| 5.50%, 06/01/27 | &nbsp;&nbsp; 179 | 181694 |
| 5.55%, 02/15/28 | &nbsp;&nbsp; 385 | 392814 |
| 5.63%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 505 | 505323 |
| 5.95%, 12/01/25<sup>(c)</sup> | &nbsp;&nbsp; 140 | 141203 |
| 6.00%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 10 | 10187 |
| 6.05%, 12/01/26 | &nbsp;&nbsp; 260 | 266273 |
| 6.10%, 12/01/28 | &nbsp;&nbsp; 90 | 93792 |
| 8.00%, 05/15/54, (5-year CMT + 4.020%)<sup>(a)</sup> | &nbsp;&nbsp; 230 | 243788 |
| EnLink Midstream LLC |  |  |
| 5.38%, 06/01/29 | &nbsp;&nbsp; 100 | 100748 |
| 5.63%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 163 | 165041 |
| EnLink Midstream Partners LP, 4.85%, 07/15/26 | &nbsp;&nbsp; 160 | 159308 |
| Enterprise Products Operating LLC |  |  |
| 3.13%, 07/31/29 | &nbsp;&nbsp; 320 | 298825 |
| 3.70%, 02/15/26 | &nbsp;&nbsp; 182 | 180254 |
| 3.95%, 02/15/27 | &nbsp;&nbsp; 35 | 34521 |
| 4.15%, 10/16/28 | &nbsp;&nbsp; 140 | 137177 |
| 4.60%, 01/11/27 | &nbsp;&nbsp; 155 | 155176 |
| 5.05%, 01/10/26 | &nbsp;&nbsp; 375 | 377039 |
| 5.38%, 02/15/78, <br> (3-mo. CME Term SOFR + 2.832%)<sup>(a)</sup><br>| &nbsp;&nbsp; 175 | 168070 |
| Series E, 5.25%, 08/16/77, <br> (3-mo. CME Term SOFR + 3.295%)<sup>(a)</sup><br>| &nbsp;&nbsp; 445 | 437155 |
| EQM Midstream Partners LP |  |  |
| 4.13%, 12/01/26 | &nbsp;&nbsp; 170 | 166612 |
| 4.50%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 240642 |
| 5.50%, 07/15/28 | &nbsp;&nbsp; 250 | 248948 |
| 6.38%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 170 | 172675 |
| 6.50%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 295 | 301755 |
| 7.50%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 153750 |
| FTAI Infra Escrow Holdings LLC, 10.50%, <br> 06/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 205 | 218877 |
| Galaxy Pipeline Assets Bidco Ltd., 1.75%, <br> 09/30/27<sup>(d)</sup><br>| &nbsp;&nbsp; 193 | 182819 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| 7.75%, 02/01/28 | &nbsp;&nbsp; 220 | 222146 |
| 8.00%, 01/15/27 | &nbsp;&nbsp; 317 | 322675 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 200 | 204182 |
| Global Partners LP/GLP Finance Corp. |  |  |
| 6.88%, 01/15/29 | &nbsp;&nbsp; 125 | 124763 |
| 7.00%, 08/01/27 | &nbsp;&nbsp; 145 | 145331 |
| Gulfstream Natural Gas System LLC, 6.19%, <br> 11/01/25<sup>(b)</sup><br>| &nbsp;&nbsp; 100 | 100854 |
| Harvest Midstream I LP, 7.50%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 260 | 262992 |
| Hess Midstream Operations LP |  |  |
| 5.13%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 165 | 161540 |
| 5.63%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 238 | 237457 |
| 6.50%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 170 | 172744 |
| Howard Midstream Energy Partners LLC, 8.88%, <br> 07/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 175 | 184655 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 375 | 346554 |
| Kinder Morgan Inc. |  |  |
| 1.75%, 11/15/26 | &nbsp;&nbsp; 200 | 188739 |
| 4.30%, 03/01/28 | &nbsp;&nbsp; 515 | 507383 |
| 5.00%, 02/01/29 | &nbsp;&nbsp; 360 | 360391 |
| 5.10%, 08/01/29 | &nbsp;&nbsp; 185 | 185761 |
| Kinetik Holdings LP, 6.63%, 12/15/28<sup>(b)</sup> | &nbsp;&nbsp; 265 | 270716 |
| Martin Midstream Partners LP/Martin Midstream <br> Finance Corp., 11.50%, 02/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 120 | 130923 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Midwest Connector Capital Co. LLC, 4.63%, <br> 04/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; $210 | $205000 |
| MPLX LP |  |  |
| 1.75%, 03/01/26 | &nbsp;&nbsp; 529 | 507957 |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 125 | 121641 |
| 4.13%, 03/01/27 | &nbsp;&nbsp; 497 | 490075 |
| 4.25%, 12/01/27 | &nbsp;&nbsp; 305 | 299949 |
| 4.80%, 02/15/29 | &nbsp;&nbsp; 230 | 228781 |
| New Fortress Energy Inc. |  |  |
| 6.50%, 09/30/26<sup>(b)</sup> | &nbsp;&nbsp; 470 | 434725 |
| 6.75%, 09/15/25<sup>(b)</sup> | &nbsp;&nbsp; 259 | 257928 |
| 8.75%, 03/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 215 | 179587 |
| NGL Energy Operating LLC/NGL Energy Finance <br> Corp., 8.13%, 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 310 | 312136 |
| NGPL PipeCo LLC, 4.88%, 08/15/27<sup>(b)</sup> | &nbsp;&nbsp; 157 | 155476 |
| Northwest Pipeline LLC, 4.00%, 04/01/27 | &nbsp;&nbsp; 140 | 137216 |
| NuStar Logistics LP |  |  |
| 5.63%, 04/28/27 | &nbsp;&nbsp; 190 | 188416 |
| 6.00%, 06/01/26 | &nbsp;&nbsp; 170 | 170038 |
| ONEOK Inc. |  |  |
| 3.40%, 09/01/29 | &nbsp;&nbsp; 200 | 186445 |
| 4.00%, 07/13/27 | &nbsp;&nbsp; 80 | 78370 |
| 4.25%, 09/24/27 | &nbsp;&nbsp; 305 | 301190 |
| 4.35%, 03/15/29 | &nbsp;&nbsp; 210 | 204579 |
| 4.40%, 10/15/29 | &nbsp;&nbsp; 175 | 170579 |
| 4.55%, 07/15/28 | &nbsp;&nbsp; 340 | 336071 |
| 5.00%, 03/01/26 | &nbsp;&nbsp; 175 | 175068 |
| 5.55%, 11/01/26 | &nbsp;&nbsp; 315 | 319231 |
| 5.65%, 11/01/28 | &nbsp;&nbsp; 230 | 236114 |
| 5.85%, 01/15/26 | &nbsp;&nbsp; 345 | 348371 |
| Plains All American Pipeline LP/PAA Finance Corp., <br> 4.50%, 12/15/26<br>| &nbsp;&nbsp; 145 | 144307 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 126710 |
| QazaqGaz NC JSC, 4.38%, 09/26/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192318 |
| Rockies Express Pipeline LLC, 4.95%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 165 | 155048 |
| Sabal Trail Transmission LLC, 4.25%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 50 | 48553 |
| Sabine Pass Liquefaction LLC |  |  |
| 4.20%, 03/15/28 | &nbsp;&nbsp; 500 | 489702 |
| 5.00%, 03/15/27 | &nbsp;&nbsp; 572 | 573230 |
| 5.88%, 06/30/26 | &nbsp;&nbsp; 471 | 476255 |
| South Bow USA Infrastructure Holdings LLC |  |  |
| 4.91%, 09/01/27<sup>(b)</sup> | &nbsp;&nbsp; 245 | 243707 |
| 5.03%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 410 | 403572 |
| Southern Gas Corridor CJSC, 6.88%, 03/24/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 611432 |
| Spectra Energy Partners LP, 3.38%, 10/15/26 | &nbsp;&nbsp; 220 | 214149 |
| Summit Midstream Holdings LLC, 8.63%, <br> 10/31/29<sup>(b)</sup><br>| &nbsp;&nbsp; 185 | 191130 |
| Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp.<br>|  |  |
| 5.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 245 | 235426 |
| 6.00%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 140 | 138904 |
| 7.38%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 255 | 255688 |
| Targa Resources Corp. |  |  |
| 5.20%, 07/01/27 | &nbsp;&nbsp; 317 | 320696 |
| 6.15%, 03/01/29 | &nbsp;&nbsp; 300 | 313216 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp.<br>|  |  |
| 5.00%, 01/15/28 | &nbsp;&nbsp; 145 | 144458 |
| 6.50%, 07/15/27 | &nbsp;&nbsp; 185 | 186680 |
| TC PipeLines LP, 3.90%, 05/25/27 | &nbsp;&nbsp; 48 | 46813 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Tennessee Gas Pipeline Co. LLC |  |  |
| 7.00%, 03/15/27 | &nbsp;&nbsp; $5 | $5229 |
| 7.00%, 10/15/28 | &nbsp;&nbsp; 10 | 10719 |
| TransCanada PipeLines Ltd. |  |  |
| 4.25%, 05/15/28 | &nbsp;&nbsp; 525 | 514673 |
| 4.88%, 01/15/26 | &nbsp;&nbsp; 140 | 139795 |
| Transcontinental Gas Pipe Line Co. LLC |  |  |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 30 | 29176 |
| 7.85%, 02/01/26 | &nbsp;&nbsp; 405 | 416645 |
| TransMontaigne Partners LP/TLP Finance Corp., <br> 6.13%, 02/15/26<br>| &nbsp;&nbsp; 100 | 98377 |
| Transportadora de Gas del Peru SA, 4.25%, <br> 04/30/28<sup>(d)</sup><br>| &nbsp;&nbsp; 160 | 156586 |
| Valero Energy Partners LP, 4.50%, 03/15/28 | &nbsp;&nbsp; 340 | 336465 |
| Venture Global Calcasieu Pass LLC, 3.88%, <br> 08/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 350 | 323277 |
| Venture Global LNG Inc. |  |  |
| 8.13%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 697 | 723281 |
| 9.50%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 905 | 1000607 |
| Western Midstream Operating LP |  |  |
| 4.50%, 03/01/28 | &nbsp;&nbsp; 25 | 24399 |
| 4.65%, 07/01/26 | &nbsp;&nbsp; 225 | 223101 |
| 4.75%, 08/15/28 | &nbsp;&nbsp; 170 | 166934 |
| 6.35%, 01/15/29 | &nbsp;&nbsp; 175 | 182137 |
| Whistler Pipeline LLC, 5.40%, 09/30/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 100269 |
| Williams Companies Inc. (The) |  |  |
| 3.75%, 06/15/27 | &nbsp;&nbsp; 567 | 553525 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 345 | 344564 |
| 5.30%, 08/15/28 | &nbsp;&nbsp; 260 | 263936 |
| 5.40%, 03/02/26 | &nbsp;&nbsp; 290 | 291918 |
|  |  | 36037569 |
| **Private Equity — 0.0%** | **Private Equity — 0.0%** | **Private Equity — 0.0%** |
| Apollo Management Holdings LP |  |  |
| 4.40%, 05/27/26<sup>(b)</sup> | &nbsp;&nbsp; 130 | 128942 |
| 4.87%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 198957 |
| KKR Group Finance Co. VI LLC, 3.75%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 190263 |
|  |  | 518162 |
| **Real Estate — 0.3%** | **Real Estate — 0.3%** | **Real Estate — 0.3%** |
| Alpha Star Holding VIII Ltd., 8.38%, 04/12/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206500 |
| Anywhere Real Estate Group LLC/Realogy <br> Co-Issuer Corp., 5.75%, 01/15/29<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 175 | 143758 |
| Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 383556 |
| Arabian Centres Sukuk III Ltd., 9.50%, 03/06/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206755 |
| Arada Sukuk 2 Ltd., 8.00%, 06/24/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 206841 |
| Arada Sukuk Ltd., 8.13%, 06/08/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 209092 |
| Aroundtown SA, 5.38%, 03/21/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191183 |
| Binghatti Sukuk SPC Ltd., 9.63%, 02/28/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205635 |
| CBRE Services Inc. |  |  |
| 4.88%, 03/01/26 | &nbsp;&nbsp; 235 | 234723 |
| 5.50%, 04/01/29 | &nbsp;&nbsp; 100 | 102578 |
| Central Plaza Development Ltd., 4.65%, 01/19/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194195 |
| China Overseas Finance Cayman VII Ltd., 4.75%, <br> 04/26/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 196391 |
| China Overseas Grand Oceans Finance IV Cayman <br> Ltd., 2.45%, 02/09/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 190024 |
| CK Property Finance MTN Ltd., 1.38%, 06/30/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188215 |
| CoreLogic Inc., 4.50%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 235 | 220672 |
| Cushman & Wakefield U.S. Borrower LLC, 6.75%, <br> 05/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 195 | 196067 |
| Dar Al-Arkan Sukuk Co. Ltd., 8.00%, 02/25/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 207274 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate (continued)** | **Real Estate (continued)** | **Real Estate (continued)** |
| Ease Trade Global Ltd., 4.00%, 11/10/25<sup>(d)</sup> | &nbsp;&nbsp; $200 | $191623 |
| Emaar Sukuk Ltd. |  |  |
| 3.64%, 09/15/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195360 |
| 3.88%, 09/17/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191742 |
| Esic Sukuk Ltd., 5.83%, 02/14/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203713 |
| Five Point Operating Co. LP/Five Point Capital <br> Corp., 10.50%, 01/15/28<sup>(b)(g)</sup><br>| &nbsp;&nbsp; 157 | 160851 |
| Franshion Brilliant Ltd. |  |  |
| 3.20%, 04/09/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 378716 |
| 4.25%, 07/23/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 167886 |
| GAIF Bond Issuer Pty. Ltd., 3.40%, 09/30/26<sup>(b)</sup> | &nbsp;&nbsp; 335 | 325518 |
| GLP China Holdings Ltd., 2.95%, 03/29/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 181631 |
| HAT Holdings I LLC/HAT Holdings II LLC, 8.00%, <br> 06/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 240 | 251396 |
| Howard Hughes Corp. (The) |  |  |
| 4.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 184416 |
| 5.38%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 242985 |
| Hunt Companies Inc., 5.25%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 189662 |
| Hysan MTN Ltd., 2.88%, 06/02/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188493 |
| Jones Lang LaSalle Inc., 6.88%, 12/01/28 | &nbsp;&nbsp; 125 | 133206 |
| Kennedy-Wilson Inc., 4.75%, 03/01/29 | &nbsp;&nbsp; 200 | 183493 |
| Longfor Group Holdings Ltd., 4.50%, 01/16/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 169446 |
| MAF Global Securities Ltd., 7.88%, <br> (5-year CMT + 4.893%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 206097 |
| MAF Sukuk Ltd., 4.50%, 11/03/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198624 |
| Mitsui Fudosan Co. Ltd. |  |  |
| 3.65%, 07/20/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 194127 |
| 3.95%, 01/24/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 192727 |
| Nan Fung Treasury Ltd., 3.88%, 10/03/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190979 |
| Newmark Group Inc., 7.50%, 01/12/29 | &nbsp;&nbsp; 150 | 158784 |
| Ontario Teachers' Cadillac Fairview Properties Trust |  |  |
| 3.88%, 03/20/27<sup>(b)</sup> | &nbsp;&nbsp; 235 | 229829 |
| 4.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 315 | 304595 |
| Sinochem Offshore Capital Co. Ltd., 2.25%, <br> 11/24/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 378322 |
| Swire Properties MTN Financing Ltd., 3.63%, <br> 01/13/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 393938 |
| Vanke Real Estate Hong Kong Co. Ltd., 3.98%, <br> 11/09/27<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 260921 |
| Westwood Group Holdings Ltd., 2.80%, 01/20/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191130 |
| Wheelock MTN BVI Ltd., 2.38%, 01/25/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193131 |
| Wuhan Urban Construction Group Co. Ltd., 5.70%, <br> 06/24/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 202013 |
| Yanlord Land HK Co. Ltd., 5.13%, 05/20/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188381 |
|  |  | 10507194 |
| **Real Estate Investment Trusts — 1.1%** | **Real Estate Investment Trusts — 1.1%** | **Real Estate Investment Trusts — 1.1%** |
| Agree LP, 2.00%, 06/15/28<sup>(c)</sup> | &nbsp;&nbsp; 100 | 90195 |
| Alexandria Real Estate Equities Inc. |  |  |
| 3.80%, 04/15/26 | &nbsp;&nbsp; 59 | 58093 |
| 3.95%, 01/15/27 | &nbsp;&nbsp; 5 | 4904 |
| 3.95%, 01/15/28 | &nbsp;&nbsp; 368 | 358041 |
| 4.30%, 01/15/26 | &nbsp;&nbsp; 115 | 114165 |
| American Homes 4 Rent LP |  |  |
| 4.25%, 02/15/28 | &nbsp;&nbsp; 20 | 19555 |
| 4.90%, 02/15/29 | &nbsp;&nbsp; 100 | 99525 |
| American Tower Corp. |  |  |
| 1.45%, 09/15/26 | &nbsp;&nbsp; 267 | 251482 |
| 1.50%, 01/31/28 | &nbsp;&nbsp; 175 | 157784 |
| 1.60%, 04/15/26 | &nbsp;&nbsp; 294 | 280730 |
| 2.75%, 01/15/27 | &nbsp;&nbsp; 179 | 171523 |
| 3.13%, 01/15/27 | &nbsp;&nbsp; 240 | 231665 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 3.38%, 10/15/26 | &nbsp;&nbsp; $247 | $240960 |
| 3.55%, 07/15/27 | &nbsp;&nbsp; 109 | 105554 |
| 3.60%, 01/15/28 | &nbsp;&nbsp; 90 | 86696 |
| 3.65%, 03/15/27 | &nbsp;&nbsp; 322 | 313980 |
| 3.80%, 08/15/29 | &nbsp;&nbsp; 500 | 475809 |
| 3.95%, 03/15/29 | &nbsp;&nbsp; 150 | 144249 |
| 4.40%, 02/15/26 | &nbsp;&nbsp; 195 | 194030 |
| 5.20%, 02/15/29 | &nbsp;&nbsp; 135 | 136460 |
| 5.25%, 07/15/28 | &nbsp;&nbsp; 185 | 187162 |
| 5.50%, 03/15/28 | &nbsp;&nbsp; 430 | 437996 |
| 5.80%, 11/15/28 | &nbsp;&nbsp; 250 | 257886 |
| Apollo Commercial Real Estate Finance Inc., 4.63%, <br> 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 130223 |
| AvalonBay Communities Inc. |  |  |
| 1.90%, 12/01/28 | &nbsp;&nbsp; 150 | 134249 |
| 2.90%, 10/15/26 | &nbsp;&nbsp; 50 | 48402 |
| 2.95%, 05/11/26 | &nbsp;&nbsp; 155 | 151154 |
| 3.20%, 01/15/28 | &nbsp;&nbsp; 150 | 143440 |
| 3.35%, 05/15/27 | &nbsp;&nbsp; 188 | 182484 |
| 3.50%, 11/15/25 | &nbsp;&nbsp; 155 | 153266 |
| Blackstone Mortgage Trust Inc., 3.75%, <br> 01/15/27<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 130 | 121554 |
| Boston Properties LP |  |  |
| 2.75%, 10/01/26 | &nbsp;&nbsp; 385 | 368810 |
| 3.40%, 06/21/29 | &nbsp;&nbsp; 250 | 229460 |
| 3.65%, 02/01/26 | &nbsp;&nbsp; 365 | 358148 |
| 4.50%, 12/01/28 | &nbsp;&nbsp; 190 | 184271 |
| 6.75%, 12/01/27 | &nbsp;&nbsp; 440 | 458678 |
| Brandywine Operating Partnership LP |  |  |
| 3.95%, 11/15/27 | &nbsp;&nbsp; 150 | 140339 |
| 4.55%, 10/01/29<sup>(c)</sup> | &nbsp;&nbsp; 100 | 92129 |
| 8.30%, 03/15/28 | &nbsp;&nbsp; 124 | 129647 |
| 8.88%, 04/12/29 | &nbsp;&nbsp; 120 | 130050 |
| Brixmor Operating Partnership LP |  |  |
| 2.25%, 04/01/28 | &nbsp;&nbsp; 290 | 264152 |
| 3.90%, 03/15/27 | &nbsp;&nbsp; 75 | 73104 |
| 4.13%, 06/15/26 | &nbsp;&nbsp; 80 | 78932 |
| 4.13%, 05/15/29 | &nbsp;&nbsp; 210 | 201728 |
| Brookfield Property REIT Inc./BPR <br> Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC<br>|  |  |
| 4.50%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 223 | 214912 |
| 5.75%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 271 | 268888 |
| Camden Property Trust |  |  |
| 3.15%, 07/01/29 | &nbsp;&nbsp; 140 | 130733 |
| 4.10%, 10/15/28 | &nbsp;&nbsp; 110 | 107364 |
| COPT Defense Properties LP |  |  |
| 2.00%, 01/15/29 | &nbsp;&nbsp; 105 | 92110 |
| 2.25%, 03/15/26 | &nbsp;&nbsp; 249 | 239493 |
| Crown Castle Inc. |  |  |
| 1.05%, 07/15/26 | &nbsp;&nbsp; 457 | 429035 |
| 2.90%, 03/15/27 | &nbsp;&nbsp; 332 | 317732 |
| 3.65%, 09/01/27 | &nbsp;&nbsp; 142 | 137419 |
| 3.70%, 06/15/26 | &nbsp;&nbsp; 252 | 247459 |
| 3.80%, 02/15/28 | &nbsp;&nbsp; 526 | 508183 |
| 4.00%, 03/01/27 | &nbsp;&nbsp; 5 | 4910 |
| 4.30%, 02/15/29 | &nbsp;&nbsp; 155 | 150682 |
| 4.45%, 02/15/26 | &nbsp;&nbsp; 277 | 275627 |
| 4.80%, 09/01/28 | &nbsp;&nbsp; 20 | 19890 |
| 4.90%, 09/01/29 | &nbsp;&nbsp; 165 | 163691 |
| 5.00%, 01/11/28 | &nbsp;&nbsp; 490 | 490569 |
| 5.60%, 06/01/29 | &nbsp;&nbsp; 205 | 210241 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| CTR Partnership LP/CareTrust Capital Corp., <br> 3.88%, 06/30/28<sup>(b)</sup><br>| &nbsp;&nbsp; $130 | $123094 |
| CubeSmart LP |  |  |
| 2.25%, 12/15/28 | &nbsp;&nbsp; 105 | 94823 |
| 3.13%, 09/01/26 | &nbsp;&nbsp; 45 | 43644 |
| 4.00%, 11/15/25 | &nbsp;&nbsp; 97 | 95902 |
| 4.38%, 02/15/29 | &nbsp;&nbsp; 100 | 97412 |
| Digital Realty Trust LP |  |  |
| 3.60%, 07/01/29 | &nbsp;&nbsp; 155 | 147070 |
| 3.70%, 08/15/27 | &nbsp;&nbsp; 440 | 427833 |
| 4.45%, 07/15/28 | &nbsp;&nbsp; 100 | 98678 |
| 5.55%, 01/15/28 | &nbsp;&nbsp; 393 | 401268 |
| Diversified Healthcare Trust |  |  |
| 0.00%, 01/15/26<sup>(b)(j)</sup> | &nbsp;&nbsp; 300 | 276173 |
| 4.75%, 02/15/28 | &nbsp;&nbsp; 165 | 145791 |
| DOC DR LLC |  |  |
| 3.95%, 01/15/28 | &nbsp;&nbsp; 215 | 208992 |
| 4.30%, 03/15/27 | &nbsp;&nbsp; 25 | 24704 |
| EPR Properties |  |  |
| 4.50%, 06/01/27 | &nbsp;&nbsp; 157 | 153908 |
| 4.75%, 12/15/26 | &nbsp;&nbsp; 145 | 143644 |
| 4.95%, 04/15/28 | &nbsp;&nbsp; 265 | 260546 |
| Equinix Inc. |  |  |
| 1.45%, 05/15/26 | &nbsp;&nbsp; 280 | 266871 |
| 1.55%, 03/15/28 | &nbsp;&nbsp; 230 | 207361 |
| 1.80%, 07/15/27 | &nbsp;&nbsp; 265 | 245700 |
| 2.00%, 05/15/28 | &nbsp;&nbsp; 60 | 54515 |
| 2.90%, 11/18/26 | &nbsp;&nbsp; 59 | 57000 |
| ERP Operating LP |  |  |
| 2.85%, 11/01/26 | &nbsp;&nbsp; 145 | 140370 |
| 3.00%, 07/01/29 | &nbsp;&nbsp; 100 | 92718 |
| 3.25%, 08/01/27 | &nbsp;&nbsp; 160 | 154223 |
| 3.50%, 03/01/28 | &nbsp;&nbsp; 40 | 38606 |
| 4.15%, 12/01/28 | &nbsp;&nbsp; 210 | 206164 |
| Essex Portfolio LP |  |  |
| 1.70%, 03/01/28 | &nbsp;&nbsp; 435 | 393109 |
| 3.38%, 04/15/26 | &nbsp;&nbsp; 120 | 117397 |
| 3.63%, 05/01/27 | &nbsp;&nbsp; 90 | 87702 |
| Extra Space Storage LP |  |  |
| 3.50%, 07/01/26 | &nbsp;&nbsp; 50 | 48995 |
| 3.88%, 12/15/27 | &nbsp;&nbsp; 405 | 394731 |
| 3.90%, 04/01/29 | &nbsp;&nbsp; 120 | 114902 |
| 5.70%, 04/01/28 | &nbsp;&nbsp; 65 | 66598 |
| Federal Realty OP LP |  |  |
| 1.25%, 02/15/26 | &nbsp;&nbsp; 80 | 76300 |
| 3.20%, 06/15/29 | &nbsp;&nbsp; 10 | 9224 |
| 3.25%, 07/15/27 | &nbsp;&nbsp; 40 | 38298 |
| 5.38%, 05/01/28 | &nbsp;&nbsp; 375 | 379473 |
| Global Net Lease Inc./Global Net Lease Operating <br> Partnership LP, 3.75%, 12/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 137574 |
| GLP Capital LP/GLP Financing II Inc. |  |  |
| 5.30%, 01/15/29 | &nbsp;&nbsp; 260 | 259390 |
| 5.38%, 04/15/26 | &nbsp;&nbsp; 360 | 360142 |
| 5.75%, 06/01/28 | &nbsp;&nbsp; 77 | 78147 |
| Goodman U.S. Finance Three LLC, 3.70%, <br> 03/15/28<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 120 | 114437 |
| HAT Holdings I LLC/HAT Holdings II LLC, 3.38%, <br> 06/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 353 | 340920 |
| Healthcare Realty Holdings LP |  |  |
| 3.50%, 08/01/26 | &nbsp;&nbsp; 155 | 151352 |
| 3.75%, 07/01/27 | &nbsp;&nbsp; 64 | 61975 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Healthpeak OP LLC |  |  |
| 1.35%, 02/01/27 | &nbsp;&nbsp; $105 | $97235 |
| 2.13%, 12/01/28 | &nbsp;&nbsp; 260 | 234515 |
| 3.25%, 07/15/26 | &nbsp;&nbsp; 55 | 53766 |
| 3.50%, 07/15/29 | &nbsp;&nbsp; 150 | 141111 |
| Highwoods Realty LP |  |  |
| 3.88%, 03/01/27 | &nbsp;&nbsp; 10 | 9680 |
| 4.13%, 03/15/28 | &nbsp;&nbsp; 25 | 23933 |
| 4.20%, 04/15/29 | &nbsp;&nbsp; 105 | 99572 |
| Host Hotels & Resorts LP, Series F, 4.50%, <br> 02/01/26<br>| &nbsp;&nbsp; 265 | 263114 |
| Hudson Pacific Properties LP |  |  |
| 3.95%, 11/01/27 | &nbsp;&nbsp; 150 | 134630 |
| 4.65%, 04/01/29<sup>(c)</sup> | &nbsp;&nbsp; 180 | 144138 |
| 5.95%, 02/15/28<sup>(c)</sup> | &nbsp;&nbsp; 25 | 22178 |
| Invitation Homes Operating Partnership LP, 2.30%, <br> 11/15/28<br>| &nbsp;&nbsp; 185 | 167475 |
| Iron Mountain Inc. |  |  |
| 4.88%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 310 | 304298 |
| 4.88%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 290 | 279033 |
| 5.00%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 146142 |
| 5.25%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 265 | 260176 |
| 7.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 308481 |
| Kilroy Realty LP |  |  |
| 4.25%, 08/15/29 | &nbsp;&nbsp; 145 | 136490 |
| 4.75%, 12/15/28 | &nbsp;&nbsp; 100 | 97801 |
| Kimco Realty OP LLC |  |  |
| 1.90%, 03/01/28 | &nbsp;&nbsp; 415 | 378005 |
| 2.80%, 10/01/26 | &nbsp;&nbsp; 5 | 4824 |
| 3.80%, 04/01/27 | &nbsp;&nbsp; 25 | 24468 |
| Kite Realty Group LP, 4.00%, 10/01/26 | &nbsp;&nbsp; 70 | 68648 |
| Ladder Capital Finance Holdings LLLP/Ladder <br> Capital Finance Corp.<br>|  |  |
| 4.25%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 230 | 222597 |
| 4.75%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 142930 |
| 5.25%, 10/01/25<sup>(b)</sup> | &nbsp;&nbsp; 130 | 129526 |
| Link Finance Cayman 2009 Ltd. (The), 2.88%, <br> 07/21/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 193535 |
| LXP Industrial Trust, 6.75%, 11/15/28 | &nbsp;&nbsp; 60 | 62975 |
| Mid-America Apartments LP |  |  |
| 1.10%, 09/15/26 | &nbsp;&nbsp; 195 | 182747 |
| 3.60%, 06/01/27 | &nbsp;&nbsp; 220 | 214847 |
| 3.95%, 03/15/29 | &nbsp;&nbsp; 170 | 164710 |
| 4.00%, 11/15/25 | &nbsp;&nbsp; 87 | 86386 |
| MPT Operating Partnership LP/MPT Finance Corp. |  |  |
| 4.63%, 08/01/29<sup>(c)</sup> | &nbsp;&nbsp; 260 | 202221 |
| 5.00%, 10/15/27<sup>(c)</sup> | &nbsp;&nbsp; 410 | 361949 |
| 5.25%, 08/01/26<sup>(c)</sup> | &nbsp;&nbsp; 165 | 156158 |
| Necessity Retail REIT Inc./American Finance <br> Operating Partner LP (The), 4.50%, 09/30/28<sup>(b)</sup><br>| &nbsp;&nbsp; 50 | 46051 |
| NNN REIT Inc., 3.50%, 10/15/27 | &nbsp;&nbsp; 400 | 386225 |
| Office Properties Income Trust, 9.00%, 09/30/29<sup>(b)</sup> | &nbsp;&nbsp; 186 | 157262 |
| Omega Healthcare Investors Inc. |  |  |
| 4.50%, 04/01/27 | &nbsp;&nbsp; 220 | 217252 |
| 4.75%, 01/15/28 | &nbsp;&nbsp; 200 | 197201 |
| 5.25%, 01/15/26 | &nbsp;&nbsp; 295 | 295062 |
| Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer<br>|  |  |
| 4.88%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 225 | 214143 |
| 5.88%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 240 | 237589 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Pebblebrook Hotel LP/PEB Finance Corp., 6.38%, <br> 10/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; $115 | $114781 |
| Piedmont Operating Partnership LP |  |  |
| 6.88%, 07/15/29 | &nbsp;&nbsp; 105 | 108296 |
| 9.25%, 07/20/28 | &nbsp;&nbsp; 170 | 187031 |
| Prologis LP |  |  |
| 2.13%, 04/15/27 | &nbsp;&nbsp; 70 | 66132 |
| 3.38%, 12/15/27 | &nbsp;&nbsp; 425 | 411200 |
| 3.88%, 09/15/28 | &nbsp;&nbsp; 100 | 97304 |
| 4.00%, 09/15/28 | &nbsp;&nbsp; 119 | 116345 |
| 4.38%, 02/01/29 | &nbsp;&nbsp; 95 | 94075 |
| 4.88%, 06/15/28 | &nbsp;&nbsp; 170 | 171473 |
| Prologis Targeted U.S. Logistics Fund LP, 5.25%, <br> 04/01/29<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 140 | 141954 |
| Public Storage Operating Co. |  |  |
| 0.88%, 02/15/26 | &nbsp;&nbsp; 195 | 186048 |
| 1.50%, 11/09/26 | &nbsp;&nbsp; 340 | 320793 |
| 1.85%, 05/01/28 | &nbsp;&nbsp; 200 | 182538 |
| 1.95%, 11/09/28 | &nbsp;&nbsp; 115 | 103825 |
| 3.09%, 09/15/27 | &nbsp;&nbsp; 50 | 48147 |
| 3.39%, 05/01/29 | &nbsp;&nbsp; 150 | 142422 |
| 5.13%, 01/15/29 | &nbsp;&nbsp; 190 | 193878 |
| Realty Income Corp. |  |  |
| 0.75%, 03/15/26 | &nbsp;&nbsp; 195 | 184601 |
| 2.10%, 03/15/28 | &nbsp;&nbsp; 100 | 91731 |
| 2.20%, 06/15/28 | &nbsp;&nbsp; 125 | 114437 |
| 3.00%, 01/15/27 | &nbsp;&nbsp; 230 | 222049 |
| 3.25%, 06/15/29 | &nbsp;&nbsp; 100 | 93547 |
| 3.40%, 01/15/28 | &nbsp;&nbsp; 205 | 197491 |
| 3.65%, 01/15/28 | &nbsp;&nbsp; 170 | 164723 |
| 3.95%, 08/15/27 | &nbsp;&nbsp; 243 | 239364 |
| 4.00%, 07/15/29 | &nbsp;&nbsp; 125 | 120894 |
| 4.13%, 10/15/26 | &nbsp;&nbsp; 245 | 242869 |
| 4.63%, 11/01/25 | &nbsp;&nbsp; 360 | 359653 |
| 4.70%, 12/15/28 | &nbsp;&nbsp; 20 | 19972 |
| 4.75%, 02/15/29 | &nbsp;&nbsp; 125 | 124838 |
| 4.88%, 06/01/26 | &nbsp;&nbsp; 60 | 60155 |
| Regency Centers LP, 4.13%, 03/15/28 | &nbsp;&nbsp; 375 | 366739 |
| Retail Opportunity Investments Partnership LP, <br> 6.75%, 10/15/28<br>| &nbsp;&nbsp; 100 | 105627 |
| Rexford Industrial Realty LP, 5.00%, 06/15/28 | &nbsp;&nbsp; 115 | 114907 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| 4.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 191330 |
| 4.75%, 10/15/27 | &nbsp;&nbsp; 235 | 230296 |
| 7.25%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 135 | 139906 |
| Rithm Capital Corp. |  |  |
| 6.25%, 10/15/25<sup>(b)</sup> | &nbsp;&nbsp; 87 | 86791 |
| 8.00%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 249492 |
| RLJ Lodging Trust LP |  |  |
| 3.75%, 07/01/26<sup>(b)</sup> | &nbsp;&nbsp; 195 | 189114 |
| 4.00%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 112697 |
| Sabra Health Care LP, 5.13%, 08/15/26 | &nbsp;&nbsp; 267 | 266951 |
| SBA Communications Corp. |  |  |
| 3.13%, 02/01/29 | &nbsp;&nbsp; 450 | 409483 |
| 3.88%, 02/15/27 | &nbsp;&nbsp; 490 | 474281 |
| Scentre Group Trust 1/Scentre Group Trust 2 |  |  |
| 3.63%, 01/28/26<sup>(b)</sup> | &nbsp;&nbsp; 270 | 265553 |
| 3.75%, 03/23/27<sup>(b)</sup> | &nbsp;&nbsp; 295 | 287009 |
| Scentre Group Trust 2, 4.75%, 09/24/80, <br> (5-year CMT + 4.379%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 212 | 209833 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Service Properties Trust |  |  |
| 3.95%, 01/15/28 | &nbsp;&nbsp; $120 | $102875 |
| 4.75%, 10/01/26 | &nbsp;&nbsp; 150 | 141987 |
| 4.95%, 02/15/27 | &nbsp;&nbsp; 135 | 125432 |
| 4.95%, 10/01/29 | &nbsp;&nbsp; 100 | 79843 |
| 5.25%, 02/15/26 | &nbsp;&nbsp; 120 | 116626 |
| 5.50%, 12/15/27 | &nbsp;&nbsp; 145 | 137243 |
| 8.38%, 06/15/29 | &nbsp;&nbsp; 210 | 204493 |
| Simon Property Group LP |  |  |
| 1.38%, 01/15/27 | &nbsp;&nbsp; 324 | 302584 |
| 1.75%, 02/01/28 | &nbsp;&nbsp; 340 | 311296 |
| 2.45%, 09/13/29 | &nbsp;&nbsp; 350 | 314942 |
| 3.30%, 01/15/26 | &nbsp;&nbsp; 320 | 314935 |
| 3.38%, 06/15/27 | &nbsp;&nbsp; 175 | 170238 |
| 3.38%, 12/01/27 | &nbsp;&nbsp; 350 | 338612 |
| Starwood Property Trust Inc. |  |  |
| 3.63%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; 145 | 139201 |
| 4.38%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 168786 |
| 7.25%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 185 | 190148 |
| Store Capital LLC |  |  |
| 4.50%, 03/15/28 | &nbsp;&nbsp; 115 | 111450 |
| 4.63%, 03/15/29 | &nbsp;&nbsp; 50 | 48021 |
| Sun Communities Operating LP |  |  |
| 2.30%, 11/01/28 | &nbsp;&nbsp; 135 | 121296 |
| 5.50%, 01/15/29 | &nbsp;&nbsp; 110 | 111032 |
| Tanger Properties LP, 3.88%, 07/15/27 | &nbsp;&nbsp; 25 | 24132 |
| Trust Fibra Uno, 5.25%, 01/30/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199056 |
| UDR Inc. |  |  |
| 2.95%, 09/01/26 | &nbsp;&nbsp; 20 | 19305 |
| 3.50%, 07/01/27 | &nbsp;&nbsp; 255 | 246229 |
| 4.40%, 01/26/29 | &nbsp;&nbsp; 95 | 92732 |
| Uniti Group LP/Uniti Group Finance 2019 Inc./CSL <br> Capital LLC<br>|  |  |
| 4.75%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 170 | 156289 |
| 6.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 325 | 279348 |
| 10.50%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 870 | 927251 |
| Ventas Realty LP |  |  |
| 3.25%, 10/15/26 | &nbsp;&nbsp; 60 | 58185 |
| 3.85%, 04/01/27 | &nbsp;&nbsp; 100 | 97786 |
| 4.00%, 03/01/28 | &nbsp;&nbsp; 200 | 194791 |
| 4.13%, 01/15/26 | &nbsp;&nbsp; 185 | 183141 |
| 4.40%, 01/15/29 | &nbsp;&nbsp; 225 | 219850 |
| VICI Properties LP, 4.75%, 02/15/28 | &nbsp;&nbsp; 470 | 465635 |
| VICI Properties LP/VICI Note Co. Inc. |  |  |
| 3.75%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 340 | 328565 |
| 3.88%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 235 | 221282 |
| 4.25%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 447 | 438680 |
| 4.50%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 173 | 170641 |
| 4.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 55 | 53587 |
| 5.75%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 130 | 131040 |
| Vornado Realty LP, 2.15%, 06/01/26 | &nbsp;&nbsp; 160 | 151481 |
| WEA Finance LLC |  |  |
| 2.88%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 265 | 251553 |
| 3.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 210 | 192882 |
| 4.13%, 09/20/28<sup>(b)</sup> | &nbsp;&nbsp; 5 | 4776 |
| Welltower OP LLC |  |  |
| 2.70%, 02/15/27 | &nbsp;&nbsp; 214 | 206003 |
| 4.25%, 04/01/26 | &nbsp;&nbsp; 288 | 286089 |
| 4.25%, 04/15/28 | &nbsp;&nbsp; 485 | 477204 |
| Weyerhaeuser Co. |  |  |
| 4.75%, 05/15/26 | &nbsp;&nbsp; 255 | 254888 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 6.95%, 10/01/27 | &nbsp;&nbsp; $5 | $5290 |
| WP Carey Inc., 3.85%, 07/15/29<sup>(c)</sup> | &nbsp;&nbsp; 100 | 95610 |
| XHR LP, 4.88%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 140808 |
|  |  | 45658081 |
| **Retail — 0.7%** | **Retail — 0.7%** | **Retail — 0.7%** |
| 1011778 BC ULC/New Red Finance Inc. |  |  |
| 3.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 230857 |
| 3.88%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 460 | 438197 |
| 4.38%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 240660 |
| 7-Eleven Inc. |  |  |
| 0.95%, 02/10/26<sup>(b)</sup> | &nbsp;&nbsp; 465 | 442347 |
| 1.30%, 02/10/28<sup>(b)</sup> | &nbsp;&nbsp; 370 | 329138 |
| Academy Ltd., 6.00%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 127 | 126629 |
| Advance Auto Parts Inc. |  |  |
| 1.75%, 10/01/27 | &nbsp;&nbsp; 100 | 89102 |
| 5.90%, 03/09/26 | &nbsp;&nbsp; 100 | 100675 |
| 5.95%, 03/09/28<sup>(c)</sup> | &nbsp;&nbsp; 135 | 136101 |
| Alimentation Couche-Tard Inc., 3.55%, 07/26/27<sup>(b)</sup> | &nbsp;&nbsp; 40 | 38699 |
| Asbury Automotive Group Inc., 4.50%, 03/01/28 | &nbsp;&nbsp; 135 | 130433 |
| AutoNation Inc. |  |  |
| 1.95%, 08/01/28 | &nbsp;&nbsp; 155 | 137775 |
| 3.80%, 11/15/27 | &nbsp;&nbsp; 5 | 4820 |
| AutoZone Inc. |  |  |
| 3.13%, 04/21/26 | &nbsp;&nbsp; 177 | 172839 |
| 3.75%, 06/01/27 | &nbsp;&nbsp; 55 | 53800 |
| 3.75%, 04/18/29 | &nbsp;&nbsp; 100 | 95599 |
| 4.50%, 02/01/28 | &nbsp;&nbsp; 270 | 268335 |
| 5.05%, 07/15/26 | &nbsp;&nbsp; 150 | 151104 |
| 5.10%, 07/15/29 | &nbsp;&nbsp; 150 | 151313 |
| 6.25%, 11/01/28 | &nbsp;&nbsp; 170 | 178851 |
| Bath & Body Works Inc. |  |  |
| 5.25%, 02/01/28 | &nbsp;&nbsp; 142 | 140079 |
| 6.69%, 01/15/27 | &nbsp;&nbsp; 95 | 97306 |
| BCPE Ulysses Intermediate Inc., 7.75%, 04/01/27, <br> (7.75% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 135 | 131668 |
| Beacon Roofing Supply Inc. |  |  |
| 4.13%, 05/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 92894 |
| 4.50%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 115 | 112645 |
| Best Buy Co. Inc., 4.45%, 10/01/28<sup>(c)</sup> | &nbsp;&nbsp; 20 | 19766 |
| Bloomin' Brands Inc./OSI Restaurant Partners LLC, <br> 5.13%, 04/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 90 | 83511 |
| Carvana Co., 12.00%, 12/01/28, (12.00% PIK)<sup>(b)(e)</sup> | &nbsp;&nbsp; 262 | 277188 |
| CEC Entertainment LLC, 6.75%, 05/01/26<sup>(b)</sup> | &nbsp;&nbsp; 225 | 223935 |
| Chengdu Communications Investment Group Co. <br> Ltd., 4.75%, 12/13/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 198680 |
| CK Hutchison International 24 Ltd., 5.38%, <br> 04/26/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 204164 |
| Costco Wholesale Corp. |  |  |
| 1.38%, 06/20/27 | &nbsp;&nbsp; 602 | 556913 |
| 3.00%, 05/18/27 | &nbsp;&nbsp; 227 | 219966 |
| Darden Restaurants Inc. |  |  |
| 3.85%, 05/01/27 | &nbsp;&nbsp; 21 | 20527 |
| 4.35%, 10/15/27 | &nbsp;&nbsp; 75 | 74036 |
| 4.55%, 10/15/29 | &nbsp;&nbsp; 75 | 73225 |
| Dave & Buster's Inc., 7.63%, 11/01/25<sup>(b)</sup> | &nbsp;&nbsp; 142 | 142000 |
| Dollar General Corp. |  |  |
| 3.88%, 04/15/27 | &nbsp;&nbsp; 197 | 192691 |
| 4.13%, 05/01/28 | &nbsp;&nbsp; 140 | 136330 |
| 4.63%, 11/01/27 | &nbsp;&nbsp; 260 | 257880 |
| 5.20%, 07/05/28<sup>(c)</sup> | &nbsp;&nbsp; 110 | 110829 |
| Dollar Tree Inc., 4.20%, 05/15/28 | &nbsp;&nbsp; 422 | 409558 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| eG Global Finance PLC, 12.00%, 11/30/28<sup>(b)</sup> | &nbsp;&nbsp; $350 | $389015 |
| El Puerto de Liverpool SAB de CV, 3.88%, <br> 10/06/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 196968 |
| Evergreen Acqco 1 LP/TVI Inc., 9.75%, 04/26/28<sup>(b)</sup> | &nbsp;&nbsp; 180 | 189464 |
| Ferrellgas LP/Ferrellgas Finance Corp. |  |  |
| 5.38%, 04/01/26<sup>(b)</sup> | &nbsp;&nbsp; 240 | 238362 |
| 5.88%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 233423 |
| Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co. Inc., 4.63%, 01/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 295 | 275485 |
| FirstCash Inc., 4.63%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 175 | 165793 |
| Foot Locker Inc., 4.00%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 115 | 99050 |
| Foundation Building Materials Inc., 6.00%, <br> 03/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 125 | 110713 |
| Gap Inc. (The), 3.63%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 215 | 192913 |
| Genuine Parts Co. |  |  |
| 4.95%, 08/15/29 | &nbsp;&nbsp; 210 | 208510 |
| 6.50%, 11/01/28 | &nbsp;&nbsp; 140 | 147710 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.38%, <br> 01/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 190 | 178077 |
| Group 1 Automotive Inc., 4.00%, 08/15/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 234279 |
| Guitar Center Inc., 8.50%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 173 | 147551 |
| GYP Holdings III Corp., 4.63%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 94541 |
| Home Depot Inc. (The) |  |  |
| 0.90%, 03/15/28 | &nbsp;&nbsp; 42 | 37459 |
| 1.50%, 09/15/28 | &nbsp;&nbsp; 245 | 219222 |
| 2.13%, 09/15/26 | &nbsp;&nbsp; 290 | 278338 |
| 2.50%, 04/15/27 | &nbsp;&nbsp; 342 | 327102 |
| 2.80%, 09/14/27 | &nbsp;&nbsp; 425 | 407251 |
| 2.88%, 04/15/27 | &nbsp;&nbsp; 290 | 280015 |
| 2.95%, 06/15/29 | &nbsp;&nbsp; 550 | 512920 |
| 3.00%, 04/01/26 | &nbsp;&nbsp; 355 | 347943 |
| 3.90%, 12/06/28 | &nbsp;&nbsp; 285 | 278812 |
| 4.75%, 06/25/29 | &nbsp;&nbsp; 390 | 392712 |
| 4.88%, 06/25/27 | &nbsp;&nbsp; 250 | 253080 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 200 | 202601 |
| 4.95%, 09/30/26 | &nbsp;&nbsp; 255 | 257602 |
| 5.15%, 06/25/26 | &nbsp;&nbsp; 345 | 349108 |
| InRetail Consumer, 3.25%, 03/22/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 185268 |
| Ken Garff Automotive LLC, 4.88%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 152 | 147353 |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell <br> of America LLC, 4.75%, 06/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 270 | 267505 |
| LBM Acquisition LLC, 6.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 230968 |
| LCM Investments Holdings II LLC, 4.88%, <br> 05/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 315 | 297577 |
| Lithia Motors Inc. |  |  |
| 3.88%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 230 | 211008 |
| 4.63%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 150 | 145511 |
| Lowe's Companies Inc. |  |  |
| 1.70%, 09/15/28 | &nbsp;&nbsp; 700 | 626352 |
| 2.50%, 04/15/26 | &nbsp;&nbsp; 80 | 77776 |
| 3.10%, 05/03/27 | &nbsp;&nbsp; 500 | 482636 |
| 3.35%, 04/01/27 | &nbsp;&nbsp; 332 | 322419 |
| 3.65%, 04/05/29 | &nbsp;&nbsp; 425 | 406335 |
| 4.80%, 04/01/26 | &nbsp;&nbsp; 407 | 407911 |
| 6.50%, 03/15/29 | &nbsp;&nbsp; 15 | 16076 |
| Macy's Retail Holdings LLC, 5.88%, 04/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 64 | 62552 |
| McDonald's Corp. |  |  |
| 2.63%, 09/01/29 | &nbsp;&nbsp; 125 | 114065 |
| 3.50%, 03/01/27 | &nbsp;&nbsp; 500 | 488406 |
| 3.50%, 07/01/27 | &nbsp;&nbsp; 587 | 571542 |
| 3.70%, 01/30/26 | &nbsp;&nbsp; 135 | 133582 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 3.80%, 04/01/28 | &nbsp;&nbsp; $117 | $113970 |
| 4.80%, 08/14/28 | &nbsp;&nbsp; 267 | 268477 |
| 5.00%, 05/17/29 | &nbsp;&nbsp; 140 | 141731 |
| Michaels Companies Inc. (The) |  |  |
| 5.25%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 255 | 184349 |
| 7.88%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 340 | 181249 |
| Murphy Oil USA Inc. |  |  |
| 4.75%, 09/15/29 | &nbsp;&nbsp; 150 | 143295 |
| 5.63%, 05/01/27 | &nbsp;&nbsp; 120 | 120296 |
| NMG Holding Co. Inc./Neiman Marcus Group LLC, <br> 8.50%, 04/01/26<sup>(b)</sup><br>| &nbsp;&nbsp; 365 | 371378 |
| Nordstrom Inc. |  |  |
| 4.00%, 03/15/27 | &nbsp;&nbsp; 145 | 138976 |
| 6.95%, 03/15/28 | &nbsp;&nbsp; 95 | 98269 |
| O'Reilly Automotive Inc. |  |  |
| 3.55%, 03/15/26 | &nbsp;&nbsp; 42 | 41328 |
| 3.60%, 09/01/27 | &nbsp;&nbsp; 407 | 395623 |
| 3.90%, 06/01/29 | &nbsp;&nbsp; 150 | 144774 |
| 5.75%, 11/20/26 | &nbsp;&nbsp; 120 | 122409 |
| Papa John's International Inc., 3.88%, 09/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 91234 |
| Park River Holdings Inc., 5.63%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 109254 |
| Patrick Industries Inc. |  |  |
| 4.75%, 05/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 94616 |
| 7.50%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 110 | 110014 |
| Penske Automotive Group Inc., 3.75%, 06/15/29 | &nbsp;&nbsp; 125 | 114157 |
| PetSmart Inc./PetSmart Finance Corp. |  |  |
| 4.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 395 | 375546 |
| 7.75%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 339931 |
| QVC Inc., 6.88%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 221 | 190126 |
| Raising Cane's Restaurants LLC, 9.38%, <br> 05/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 150 | 161357 |
| Ross Stores Inc., 0.88%, 04/15/26 | &nbsp;&nbsp; 45 | 42610 |
| Sizzling Platter LLC/Sizzling Platter Finance Corp., <br> 8.50%, 11/28/25<sup>(b)</sup><br>| &nbsp;&nbsp; 105 | 105205 |
| Specialty Building Products Holdings LLC/SBP <br> Finance Corp., 7.75%, 10/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 145 | 147793 |
| Staples Inc., 10.75%, 09/01/29<sup>(b)</sup> | &nbsp;&nbsp; 675 | 653269 |
| Starbucks Corp. |  |  |
| 2.00%, 03/12/27 | &nbsp;&nbsp; 171 | 161394 |
| 2.45%, 06/15/26 | &nbsp;&nbsp; 115 | 111317 |
| 3.50%, 03/01/28 | &nbsp;&nbsp; 100 | 96787 |
| 3.55%, 08/15/29 | &nbsp;&nbsp; 300 | 286099 |
| 4.00%, 11/15/28 | &nbsp;&nbsp; 155 | 151520 |
| 4.75%, 02/15/26 | &nbsp;&nbsp; 410 | 410620 |
| 4.85%, 02/08/27 | &nbsp;&nbsp; 110 | 110676 |
| Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.88%, 03/01/27<br>| &nbsp;&nbsp; 105 | 104691 |
| Superior Plus LP/Superior General Partner Inc., <br> 4.50%, 03/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 180 | 166061 |
| Target Corp. |  |  |
| 1.95%, 01/15/27 | &nbsp;&nbsp; 490 | 465510 |
| 2.50%, 04/15/26 | &nbsp;&nbsp; 125 | 122249 |
| 3.38%, 04/15/29 | &nbsp;&nbsp; 205 | 195872 |
| TJX Companies Inc. (The), 2.25%, 09/15/26 | &nbsp;&nbsp; 265 | 255052 |
| Victoria's Secret & Co., 4.63%, 07/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 180 | 158436 |
| Victra Holdings LLC/Victra Finance Corp., 8.75%, <br> 09/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 140 | 146156 |
| Walgreens Boots Alliance Inc. |  |  |
| 3.45%, 06/01/26 | &nbsp;&nbsp; 435 | 418600 |
| 8.13%, 08/15/29<sup>(c)</sup> | &nbsp;&nbsp; 200 | 198481 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Walmart Inc. |  |  |
| 3.70%, 06/26/28 | &nbsp;&nbsp; $20 | $19596 |
| 3.90%, 04/15/28 | &nbsp;&nbsp; 295 | 290998 |
| 4.00%, 04/15/26 | &nbsp;&nbsp; 135 | 134341 |
| 5.88%, 04/05/27 | &nbsp;&nbsp; 255 | 264212 |
| White Cap Buyer LLC, 6.88%, 10/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 200 | 200873 |
| White Cap Parent LLC, 8.25%, 03/15/26, <br> (9.00% PIK)<sup>(b)(e)</sup><br>| &nbsp;&nbsp; 130 | 130039 |
| Zhongsheng Group Holdings Ltd., 5.98%, <br> 01/30/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 196905 |
|  |  | 29531647 |
| **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** |
| Nationwide Building Society |  |  |
| 1.50%, 10/13/26<sup>(b)</sup> | &nbsp;&nbsp; 365 | 344159 |
| 2.97%, 02/16/28, (1-day SOFR + 1.290%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 305 | 291236 |
| 3.96%, 07/18/30, <br> (3-mo. LIBOR US + 1.855%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 200 | 190187 |
| 4.00%, 09/14/26<sup>(b)</sup> | &nbsp;&nbsp; 275 | 269264 |
| 4.30%, 03/08/29, <br> (3-mo. LIBOR US + 1.452%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 410 | 399811 |
| 4.85%, 07/27/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 200878 |
| 5.13%, 07/29/29<sup>(b)</sup> | &nbsp;&nbsp; 205 | 206295 |
| 6.56%, 10/18/27, (1-day SOFR + 1.910%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 450 | 463570 |
|  |  | 2365400 |
| **Semiconductors — 0.5%** | **Semiconductors — 0.5%** | **Semiconductors — 0.5%** |
| Amkor Technology Inc., 6.63%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 175 | 175491 |
| ams-OSRAM AG, 12.25%, 03/30/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 155892 |
| Analog Devices Inc. |  |  |
| 1.70%, 10/01/28 | &nbsp;&nbsp; 240 | 215654 |
| 3.45%, 06/15/27 | &nbsp;&nbsp; 20 | 19488 |
| 3.50%, 12/05/26 | &nbsp;&nbsp; 210 | 206041 |
| Applied Materials Inc. |  |  |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 390 | 379874 |
| 4.80%, 06/15/29 | &nbsp;&nbsp; 100 | 100830 |
| Broadcom Corp./Broadcom Cayman Finance Ltd. |  |  |
| 3.50%, 01/15/28 | &nbsp;&nbsp; 245 | 235835 |
| 3.88%, 01/15/27 | &nbsp;&nbsp; 915 | 900032 |
| Broadcom Inc. |  |  |
| 1.95%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 50 | 45755 |
| 3.15%, 11/15/25 | &nbsp;&nbsp; 390 | 383717 |
| 3.46%, 09/15/26 | &nbsp;&nbsp; 244 | 238992 |
| 4.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 240 | 231338 |
| 4.11%, 09/15/28 | &nbsp;&nbsp; 385 | 376350 |
| 4.15%, 02/15/28 | &nbsp;&nbsp; 240 | 235629 |
| 4.75%, 04/15/29 | &nbsp;&nbsp; 450 | 448339 |
| 5.05%, 07/12/27 | &nbsp;&nbsp; 445 | 449349 |
| 5.05%, 07/12/29 | &nbsp;&nbsp; 630 | 635515 |
| Entegris Inc. |  |  |
| 3.63%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 120 | 109872 |
| 4.38%, 04/15/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 119258 |
| 4.75%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 500 | 484138 |
| Intel Corp. |  |  |
| 1.60%, 08/12/28 | &nbsp;&nbsp; 270 | 237761 |
| 2.60%, 05/19/26 | &nbsp;&nbsp; 205 | 198029 |
| 3.15%, 05/11/27 | &nbsp;&nbsp; 280 | 268285 |
| 3.75%, 03/25/27 | &nbsp;&nbsp; 409 | 397959 |
| 3.75%, 08/05/27<sup>(c)</sup> | &nbsp;&nbsp; 475 | 460701 |
| 4.00%, 08/05/29 | &nbsp;&nbsp; 100 | 95368 |
| 4.88%, 02/10/26 | &nbsp;&nbsp; 615 | 614843 |
| 4.88%, 02/10/28 | &nbsp;&nbsp; 520 | 517832 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| KLA Corp., 4.10%, 03/15/29 | &nbsp;&nbsp; $225 | $221039 |
| Lam Research Corp. |  |  |
| 3.75%, 03/15/26 | &nbsp;&nbsp; 307 | 303796 |
| 4.00%, 03/15/29 | &nbsp;&nbsp; 130 | 127213 |
| Marvell Technology Inc. |  |  |
| 1.65%, 04/15/26 | &nbsp;&nbsp; 235 | 224241 |
| 2.45%, 04/15/28 | &nbsp;&nbsp; 5 | 4608 |
| 4.88%, 06/22/28 | &nbsp;&nbsp; 260 | 258719 |
| 5.75%, 02/15/29 | &nbsp;&nbsp; 160 | 164837 |
| Microchip Technology Inc., 5.05%, 03/15/29 | &nbsp;&nbsp; 225 | 225747 |
| Micron Technology Inc. |  |  |
| 4.19%, 02/15/27 | &nbsp;&nbsp; 326 | 321709 |
| 4.98%, 02/06/26 | &nbsp;&nbsp; 125 | 125343 |
| 5.33%, 02/06/29 | &nbsp;&nbsp; 200 | 202298 |
| 5.38%, 04/15/28 | &nbsp;&nbsp; 235 | 238230 |
| NVIDIA Corp. |  |  |
| 1.55%, 06/15/28 | &nbsp;&nbsp; 520 | 471702 |
| 3.20%, 09/16/26 | &nbsp;&nbsp; 115 | 112622 |
| NXP BV/NXP Funding LLC |  |  |
| 5.35%, 03/01/26 | &nbsp;&nbsp; 189 | 190139 |
| 5.55%, 12/01/28 | &nbsp;&nbsp; 20 | 20431 |
| NXP BV/NXP Funding LLC/NXP USA Inc. |  |  |
| 3.15%, 05/01/27 | &nbsp;&nbsp; 5 | 4808 |
| 3.88%, 06/18/26 | &nbsp;&nbsp; 290 | 286344 |
| 4.30%, 06/18/29 | &nbsp;&nbsp; 300 | 291851 |
| 4.40%, 06/01/27 | &nbsp;&nbsp; 299 | 297304 |
| ON Semiconductor Corp., 3.88%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 234591 |
| Qorvo Inc., 4.38%, 10/15/29 | &nbsp;&nbsp; 250 | 235722 |
| Qualcomm Inc. |  |  |
| 1.30%, 05/20/28 | &nbsp;&nbsp; 250 | 223788 |
| 3.25%, 05/20/27 | &nbsp;&nbsp; 465 | 451388 |
| Renesas Electronics Corp., 2.17%, 11/25/26<sup>(b)</sup> | &nbsp;&nbsp; 305 | 287976 |
| SK Hynix Inc. |  |  |
| 1.50%, 01/19/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 383338 |
| 5.50%, 01/16/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 404071 |
| 6.25%, 01/17/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202743 |
| 6.38%, 01/17/28<sup>(d)</sup> | &nbsp;&nbsp; 385 | 398480 |
| Skyworks Solutions Inc., 1.80%, 06/01/26 | &nbsp;&nbsp; 225 | 214069 |
| Synaptics Inc., 4.00%, 06/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 100 | 91775 |
| Texas Instruments Inc. |  |  |
| 1.13%, 09/15/26 | &nbsp;&nbsp; 205 | 193209 |
| 2.25%, 09/04/29 | &nbsp;&nbsp; 250 | 225318 |
| 2.90%, 11/03/27 | &nbsp;&nbsp; 55 | 52705 |
| 4.60%, 02/08/27 | &nbsp;&nbsp; 115 | 115650 |
| 4.60%, 02/15/28 | &nbsp;&nbsp; 235 | 236354 |
| 4.60%, 02/08/29 | &nbsp;&nbsp; 100 | 100290 |
| TSMC Arizona Corp. |  |  |
| 1.75%, 10/25/26 | &nbsp;&nbsp; 215 | 203054 |
| 3.88%, 04/22/27 | &nbsp;&nbsp; 360 | 353497 |
| 4.13%, 04/22/29 | &nbsp;&nbsp; 200 | 195352 |
| TSMC Global Ltd. |  |  |
| 1.25%, 04/23/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 379706 |
| 4.38%, 07/22/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 397817 |
|  |  | 18612041 |
| **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** |
| Huntington Ingalls Industries Inc. |  |  |
| 2.04%, 08/16/28 | &nbsp;&nbsp; 150 | 135264 |
| 3.48%, 12/01/27 | &nbsp;&nbsp; 220 | 211590 |
|  |  | 346854 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| ACI Worldwide Inc., 5.75%, 08/15/26<sup>(b)</sup> | &nbsp;&nbsp; $160 | $159870 |
| Adobe Inc. |  |  |
| 2.15%, 02/01/27 | &nbsp;&nbsp; 75 | 71492 |
| 4.80%, 04/04/29 | &nbsp;&nbsp; 235 | 237985 |
| 4.85%, 04/04/27 | &nbsp;&nbsp; 110 | 111177 |
| Alteryx Inc., 8.75%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 127575 |
| Atlassian Corp., 5.25%, 05/15/29 | &nbsp;&nbsp; 100 | 101255 |
| Autodesk Inc., 3.50%, 06/15/27 | &nbsp;&nbsp; 65 | 63278 |
| Broadridge Financial Solutions Inc., 3.40%, <br> 06/27/26<br>| &nbsp;&nbsp; 220 | 215120 |
| Cadence Design Systems Inc. |  |  |
| 4.20%, 09/10/27 | &nbsp;&nbsp; 60 | 59541 |
| 4.30%, 09/10/29 | &nbsp;&nbsp; 275 | 269842 |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(b)</sup> | &nbsp;&nbsp; 255 | 250527 |
| Central Parent Inc./CDK Global Inc., 7.25%, <br> 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 225746 |
| Central Parent LLC/CDK Global II LLC/CDK <br> Financing Co. Inc., 8.00%, 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 225 | 230054 |
| Clarivate Science Holdings Corp. |  |  |
| 3.88%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 272 | 256841 |
| 4.88%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 259931 |
| Cloud Software Group Inc. |  |  |
| 6.50%, 03/31/29<sup>(b)</sup> | &nbsp;&nbsp; 1205 | 1175920 |
| 9.00%, 09/30/29<sup>(b)</sup> | &nbsp;&nbsp; 1100 | 1100000 |
| Concentrix Corp. |  |  |
| 6.60%, 08/02/28<sup>(c)</sup> | &nbsp;&nbsp; 290 | 294013 |
| 6.65%, 08/02/26 | &nbsp;&nbsp; 230 | 234371 |
| Consensus Cloud Solutions Inc. |  |  |
| 6.00%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 100 | 99239 |
| 6.50%, 10/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 125 | 123618 |
| Constellation Software Inc./Canada, 5.16%, <br> 02/16/29<sup>(b)</sup><br>| &nbsp;&nbsp; 75 | 75845 |
| Dye & Durham Ltd., 8.63%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 185835 |
| Elastic NV, 4.13%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 170 | 157364 |
| Electronic Arts Inc., 4.80%, 03/01/26 | &nbsp;&nbsp; 115 | 114972 |
| Fair Isaac Corp. |  |  |
| 4.00%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | 284814 |
| 5.25%, 05/15/26<sup>(b)</sup> | &nbsp;&nbsp; 130 | 130143 |
| Fidelity National Information Services Inc. |  |  |
| 1.15%, 03/01/26 | &nbsp;&nbsp; 482 | 459555 |
| 1.65%, 03/01/28 | &nbsp;&nbsp; 175 | 158502 |
| 3.75%, 05/21/29 | &nbsp;&nbsp; 100 | 95500 |
| Fiserv Inc. |  |  |
| 2.25%, 06/01/27 | &nbsp;&nbsp; 442 | 415937 |
| 3.20%, 07/01/26 | &nbsp;&nbsp; 540 | 527186 |
| 3.50%, 07/01/29 | &nbsp;&nbsp; 810 | 765299 |
| 4.20%, 10/01/28 | &nbsp;&nbsp; 289 | 282797 |
| 5.15%, 03/15/27 | &nbsp;&nbsp; 150 | 151654 |
| 5.38%, 08/21/28 | &nbsp;&nbsp; 195 | 198775 |
| 5.45%, 03/02/28 | &nbsp;&nbsp; 290 | 295850 |
| Helios Software Holdings Inc./ION Corporate <br> Solutions Finance SARL<br>|  |  |
| 4.63%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 30 | 27494 |
| 8.75%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 203297 |
| Intuit Inc. |  |  |
| 1.35%, 07/15/27 | &nbsp;&nbsp; 105 | 96865 |
| 5.13%, 09/15/28 | &nbsp;&nbsp; 330 | 337182 |
| 5.25%, 09/15/26 | &nbsp;&nbsp; 245 | 248453 |
| Microsoft Corp. |  |  |
| 2.40%, 08/08/26 | &nbsp;&nbsp; 843 | 815998 |
| 3.13%, 11/03/25 | &nbsp;&nbsp; 1076 | 1062196 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| 3.30%, 02/06/27 | &nbsp;&nbsp; $1175 | $1151507 |
| 3.40%, 09/15/26 | &nbsp;&nbsp; 243 | 239120 |
| 3.40%, 06/15/27 | &nbsp;&nbsp; 80 | 78436 |
| Open Text Corp. |  |  |
| 3.88%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 253865 |
| 6.90%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 305 | 317289 |
| Oracle Corp. |  |  |
| 1.65%, 03/25/26 | &nbsp;&nbsp; 837 | 801996 |
| 2.30%, 03/25/28 | &nbsp;&nbsp; 550 | 508974 |
| 2.65%, 07/15/26 | &nbsp;&nbsp; 933 | 902433 |
| 2.80%, 04/01/27 | &nbsp;&nbsp; 580 | 555884 |
| 3.25%, 11/15/27 | &nbsp;&nbsp; 920 | 883789 |
| 4.20%, 09/27/29 | &nbsp;&nbsp; 565 | 550372 |
| 4.50%, 05/06/28 | &nbsp;&nbsp; 205 | 203888 |
| 5.80%, 11/10/25 | &nbsp;&nbsp; 375 | 378959 |
| Playtika Holding Corp., 4.25%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 157885 |
| PTC Inc., 4.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 158 | 151064 |
| Rocket Software Inc. |  |  |
| 6.50%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 185 | 172644 |
| 9.00%, 11/28/28<sup>(b)</sup> | &nbsp;&nbsp; 260 | 270904 |
| Roper Technologies Inc. |  |  |
| 1.40%, 09/15/27 | &nbsp;&nbsp; 360 | 330781 |
| 2.95%, 09/15/29 | &nbsp;&nbsp; 200 | 183717 |
| 3.80%, 12/15/26 | &nbsp;&nbsp; 20 | 19704 |
| 4.20%, 09/15/28 | &nbsp;&nbsp; 55 | 54069 |
| 4.50%, 10/15/29 | &nbsp;&nbsp; 175 | 172352 |
| Salesforce Inc. |  |  |
| 1.50%, 07/15/28 | &nbsp;&nbsp; 80 | 72147 |
| 3.70%, 04/11/28 | &nbsp;&nbsp; 530 | 517987 |
| SS&C Technologies Inc., 5.50%, 09/30/27<sup>(b)</sup> | &nbsp;&nbsp; 595 | 592580 |
| Take-Two Interactive Software Inc. |  |  |
| 3.70%, 04/14/27<sup>(c)</sup> | &nbsp;&nbsp; 302 | 294758 |
| 4.95%, 03/28/28 | &nbsp;&nbsp; 250 | 250890 |
| 5.00%, 03/28/26 | &nbsp;&nbsp; 195 | 195703 |
| 5.40%, 06/12/29 | &nbsp;&nbsp; 70 | 71065 |
| Twilio Inc., 3.63%, 03/15/29 | &nbsp;&nbsp; 150 | 138146 |
| Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, <br> 09/01/25<sup>(b)</sup><br>| &nbsp;&nbsp; 389 | 370050 |
| VMware LLC |  |  |
| 1.40%, 08/15/26 | &nbsp;&nbsp; 540 | 509058 |
| 1.80%, 08/15/28 | &nbsp;&nbsp; 35 | 31341 |
| 3.90%, 08/21/27 | &nbsp;&nbsp; 430 | 420119 |
| 4.65%, 05/15/27 | &nbsp;&nbsp; 125 | 124634 |
| West Technology Group LLC, 8.50%, 04/10/27<sup>(b)</sup> | &nbsp;&nbsp; 149 | 124795 |
| Workday Inc. |  |  |
| 3.50%, 04/01/27 | &nbsp;&nbsp; 365 | 355729 |
| 3.70%, 04/01/29 | &nbsp;&nbsp; 210 | 201229 |
| ZoomInfo Technologies LLC/ZoomInfo Finance <br> Corp., 3.88%, 02/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 200 | 182264 |
|  |  | 25551035 |
| **Telecommunications — 1.0%** | **Telecommunications — 1.0%** | **Telecommunications — 1.0%** |
| Altice Financing SA |  |  |
| 5.00%, 01/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 355 | 300323 |
| 5.75%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 600 | 489862 |
| Altice France Holding SA |  |  |
| 6.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 320 | 86587 |
| 10.50%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 470 | 142536 |
| Altice France SA |  |  |
| 5.13%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 145 | 108807 |
| 5.13%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 750 | 561125 |
| 5.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 325 | 251388 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 5.50%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; $250 | $188790 |
| 8.13%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 520 | 430516 |
| America Movil SAB de CV, 3.63%, 04/22/29 | &nbsp;&nbsp; 250 | 236715 |
| AT&T Inc. |  |  |
| 1.65%, 02/01/28 | &nbsp;&nbsp; 795 | 722364 |
| 1.70%, 03/25/26 | &nbsp;&nbsp; 891 | 854971 |
| 2.30%, 06/01/27 | &nbsp;&nbsp; 811 | 766131 |
| 2.95%, 07/15/26 | &nbsp;&nbsp; 128 | 124465 |
| 3.80%, 02/15/27 | &nbsp;&nbsp; 225 | 220790 |
| 3.88%, 01/15/26 | &nbsp;&nbsp; 120 | 118819 |
| 4.10%, 02/15/28 | &nbsp;&nbsp; 565 | 555103 |
| 4.25%, 03/01/27 | &nbsp;&nbsp; 607 | 602606 |
| 4.35%, 03/01/29 | &nbsp;&nbsp; 895 | 882308 |
| 5.54%, 02/20/26 | &nbsp;&nbsp; 5 | 5001 |
| Axiata SPV2 Bhd, 4.36%, 03/24/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198319 |
| British Telecommunications PLC |  |  |
| 4.25%, 11/23/81, (5-year CMT + 2.985%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 150 | 144697 |
| 5.13%, 12/04/28 | &nbsp;&nbsp; 200 | 201869 |
| C&W Senior Finance Ltd., 6.88%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 227 | 224850 |
| Cisco Systems Inc. |  |  |
| 2.50%, 09/20/26 | &nbsp;&nbsp; 460 | 445302 |
| 2.95%, 02/28/26 | &nbsp;&nbsp; 320 | 313971 |
| 4.80%, 02/26/27 | &nbsp;&nbsp; 460 | 463938 |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 750 | 759337 |
| 4.90%, 02/26/26 | &nbsp;&nbsp; 310 | 312088 |
| CommScope LLC |  |  |
| 4.75%, 09/01/29<sup>(b)</sup> | &nbsp;&nbsp; 350 | 292328 |
| 6.00%, 03/01/26<sup>(b)</sup> | &nbsp;&nbsp; 440 | 429826 |
| 7.13%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 207 | 181000 |
| 8.25%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 295 | 278749 |
| CommScope Technologies LLC, 5.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 215 | 190241 |
| Connect Finco SARL/Connect U.S. Finco LLC, <br> 9.00%, 09/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 530 | 503660 |
| Consolidated Communications Inc. |  |  |
| 5.00%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 125 | 115763 |
| 6.50%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 250 | 237456 |
| Deutsche Telekom International Finance BV |  |  |
| 3.60%, 01/19/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 205073 |
| 4.38%, 06/21/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | 295680 |
| Empresa Nacional de Telecomunicaciones SA, <br> 4.75%, 08/01/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 198413 |
| Frontier Communications Holdings LLC |  |  |
| 5.00%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 475 | 467197 |
| 5.88%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 335 | 334288 |
| 6.75%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 298543 |
| Frontier Florida LLC, Series E, 6.86%, 02/01/28 | &nbsp;&nbsp; 100 | 103946 |
| Frontier North Inc., Series G, 6.73%, 02/15/28 | &nbsp;&nbsp; 75 | 76725 |
| Globe Telecom Inc., 4.20%, <br> (5-year CMT + 5.527%)<sup>(a)(d)(f)</sup><br>| &nbsp;&nbsp; 200 | 194609 |
| GoTo Group Inc., 5.50%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 239 | 125694 |
| HKT Capital No. 4 Ltd., 3.00%, 07/14/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 193567 |
| Hughes Satellite Systems Corp. |  |  |
| 5.25%, 08/01/26 | &nbsp;&nbsp; 225 | 206530 |
| 6.63%, 08/01/26<sup>(c)</sup> | &nbsp;&nbsp; 215 | 184142 |
| Iliad Holding SASU |  |  |
| 6.50%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 225 | 226698 |
| 7.00%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 275 | 278832 |
| Juniper Networks Inc. |  |  |
| 1.20%, 12/10/25 | &nbsp;&nbsp; 215 | 206277 |
| 3.75%, 08/15/29 | &nbsp;&nbsp; 125 | 118038 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Level 3 Financing Inc. |  |  |
| 3.63%, 01/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; $100 | $74977 |
| 3.75%, 07/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 135 | 98672 |
| 4.25%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | 124727 |
| 4.88%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 149671 |
| 10.50%, 04/15/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 207 | 230741 |
| 11.00%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | 112849 |
| Liquid Telecommunications Financing PLC, 5.50%, <br> 09/04/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 143003 |
| Lumen Technologies Inc. |  |  |
| 4.13%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 175 | 153888 |
| 4.50%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 97529 |
| Millicom International Cellular SA, 6.25%, <br> 03/25/29<sup>(d)</sup><br>| &nbsp;&nbsp; 180 | 178815 |
| Motorola Solutions Inc. |  |  |
| 4.60%, 02/23/28 | &nbsp;&nbsp; 230 | 229061 |
| 4.60%, 05/23/29 | &nbsp;&nbsp; 255 | 252645 |
| 5.00%, 04/15/29 | &nbsp;&nbsp; 100 | 100767 |
| MTN Mauritius Investments Ltd., 6.50%, 10/13/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201751 |
| NBN Co. Ltd. |  |  |
| 1.45%, 05/05/26<sup>(b)</sup> | &nbsp;&nbsp; 380 | 362044 |
| 1.63%, 01/08/27<sup>(b)</sup> | &nbsp;&nbsp; 140 | 131029 |
| 4.00%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 196577 |
| 4.25%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 195226 |
| 5.75%, 10/06/28<sup>(b)</sup> | &nbsp;&nbsp; 465 | 480676 |
| Network i2i Ltd., 3.98%, (5-year CMT + 3.390%)<sup>(d)(f)</sup> | &nbsp;&nbsp; 200 | 194950 |
| Nokia OYJ, 4.38%, 06/12/27 | &nbsp;&nbsp; 190 | 186381 |
| NTT Finance Corp. |  |  |
| 1.16%, 04/03/26<sup>(b)</sup> | &nbsp;&nbsp; 980 | 933184 |
| 1.59%, 04/03/28<sup>(b)</sup> | &nbsp;&nbsp; 220 | 198059 |
| 4.37%, 07/27/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 208138 |
| 5.10%, 07/02/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202063 |
| 5.11%, 07/02/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202297 |
| Ooredoo International Finance Ltd., 3.75%, <br> 06/22/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 196748 |
| Oztel Holdings SPC Ltd., 6.63%, 04/24/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 207474 |
| PT Tower Bersama Infrastructure Tbk, 2.80%, <br> 05/02/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189502 |
| Rogers Communications Inc. |  |  |
| 2.90%, 11/15/26 | &nbsp;&nbsp; 125 | 120402 |
| 3.20%, 03/15/27 | &nbsp;&nbsp; 450 | 433787 |
| 3.63%, 12/15/25 | &nbsp;&nbsp; 305 | 300740 |
| 5.00%, 02/15/29 | &nbsp;&nbsp; 370 | 370313 |
| 5.25%, 03/15/82, (5-year CMT + 3.590%)<sup>(a)(b)</sup> | &nbsp;&nbsp; 260 | 254427 |
| Saudi Telecom Co., 3.89%, 05/13/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 388686 |
| SingTel Group Treasury Pte Ltd., 2.38%, 08/28/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 181088 |
| Sprint Capital Corp., 6.88%, 11/15/28 | &nbsp;&nbsp; 675 | 724183 |
| Sprint LLC, 7.63%, 03/01/26 | &nbsp;&nbsp; 560 | 574682 |
| Sprint Spectrum Co. LLC/Sprint Spectrum Co. <br> II LLC/Sprint Spectrum Co. III LLC, 5.15%, <br> 09/20/29<sup>(b)</sup><br>| &nbsp;&nbsp; 364 | 365572 |
| Telefonica Emisiones SA, 4.10%, 03/08/27 | &nbsp;&nbsp; 387 | 381491 |
| Telesat Canada/Telesat LLC |  |  |
| 4.88%, 06/01/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 130 | 57070 |
| 5.63%, 12/06/26<sup>(b)</sup> | &nbsp;&nbsp; 175 | 79368 |
| TELUS Corp. |  |  |
| 2.80%, 02/16/27 | &nbsp;&nbsp; 90 | 85923 |
| 3.70%, 09/15/27 | &nbsp;&nbsp; 89 | 86315 |
| T-Mobile USA Inc. |  |  |
| 1.50%, 02/15/26 | &nbsp;&nbsp; 367 | 352311 |
| 2.05%, 02/15/28 | &nbsp;&nbsp; 603 | 553603 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 2.25%, 02/15/26 | &nbsp;&nbsp; $542 | $525025 |
| 2.40%, 03/15/29 | &nbsp;&nbsp; 100 | 90466 |
| 2.63%, 04/15/26 | &nbsp;&nbsp; 419 | 406234 |
| 2.63%, 02/15/29 | &nbsp;&nbsp; 420 | 383204 |
| 3.38%, 04/15/29 | &nbsp;&nbsp; 705 | 662082 |
| 3.75%, 04/15/27 | &nbsp;&nbsp; 1214 | 1188568 |
| 4.20%, 10/01/29 | &nbsp;&nbsp; 250 | 242987 |
| 4.75%, 02/01/28 | &nbsp;&nbsp; 54 | 53785 |
| 4.80%, 07/15/28 | &nbsp;&nbsp; 295 | 295017 |
| 4.85%, 01/15/29 | &nbsp;&nbsp; 185 | 185312 |
| 4.95%, 03/15/28 | &nbsp;&nbsp; 460 | 462475 |
| 5.38%, 04/15/27 | &nbsp;&nbsp; 294 | 295911 |
| Total Play Telecomunicaciones SA de CV, 6.38%, <br> 09/20/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 112430 |
| Turk Telekomunikasyon AS, 7.38%, 05/20/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203908 |
| Verizon Communications Inc. |  |  |
| 0.85%, 11/20/25 | &nbsp;&nbsp; 336 | 323237 |
| 1.45%, 03/20/26 | &nbsp;&nbsp; 407 | 389873 |
| 2.10%, 03/22/28 | &nbsp;&nbsp; 945 | 867666 |
| 2.63%, 08/15/26 | &nbsp;&nbsp; 442 | 427163 |
| 3.00%, 03/22/27 | &nbsp;&nbsp; 129 | 124321 |
| 3.88%, 02/08/29 | &nbsp;&nbsp; 351 | 339590 |
| 4.13%, 03/16/27 | &nbsp;&nbsp; 1010 | 997930 |
| 4.33%, 09/21/28 | &nbsp;&nbsp; 1280 | 1262325 |
| Viasat Inc., 6.50%, 07/15/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 135 | 101784 |
| ViaSat Inc., 5.63%, 04/15/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 200 | 186989 |
| Viavi Solutions Inc., 3.75%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 113385 |
| Vodafone Group PLC |  |  |
| 3.25%, 06/04/81, (5-year CMT + 2.447%)<sup>(a)</sup> | &nbsp;&nbsp; 175 | 168194 |
| 4.38%, 05/30/28<sup>(c)</sup> | &nbsp;&nbsp; 94 | 93834 |
| 7.00%, 04/04/79, <br> (5-year USD Swap + 4.873%)<sup>(a)</sup><br>| &nbsp;&nbsp; 605 | 634932 |
| Windstream Services LLC/Windstream Escrow <br> Finance Corp., 7.75%, 08/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 420 | 422280 |
| Zayo Group Holdings Inc. |  |  |
| 4.00%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 450 | 400538 |
| 6.13%, 03/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 330 | 283257 |
| Zegona Finance PLC, 8.63%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 275 | 291314 |
|  |  | 40736274 |
| **Toys, Games & Hobbies — 0.0%** | **Toys, Games & Hobbies — 0.0%** | **Toys, Games & Hobbies — 0.0%** |
| Hasbro Inc. |  |  |
| 3.50%, 09/15/27 | &nbsp;&nbsp; 20 | 19322 |
| 3.55%, 11/19/26 | &nbsp;&nbsp; 185 | 180216 |
| Mattel Inc. |  |  |
| 3.38%, 04/01/26<sup>(b)</sup> | &nbsp;&nbsp; 270 | 263635 |
| 3.75%, 04/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 175 | 164393 |
| 5.88%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 160 | 161084 |
|  |  | 788650 |
| **Transportation — 0.3%** | **Transportation — 0.3%** | **Transportation — 0.3%** |
| AP Moller - Maersk A/S, 4.50%, 06/20/29<sup>(b)</sup> | &nbsp;&nbsp; 25 | 24655 |
| BNSF Funding Trust I, 6.61%, 12/15/55, <br> (3-mo. LIBOR US + 2.350%)<sup>(a)</sup><br>| &nbsp;&nbsp; 50 | 50466 |
| Burlington Northern Santa Fe LLC |  |  |
| 3.25%, 06/15/27 | &nbsp;&nbsp; 140 | 136077 |
| 7.00%, 12/15/25 | &nbsp;&nbsp; 160 | 164080 |
| Canadian National Railway Co. |  |  |
| 2.75%, 03/01/26 | &nbsp;&nbsp; 145 | 141617 |
| 6.90%, 07/15/28 | &nbsp;&nbsp; 170 | 183544 |
| Canadian Pacific Railway Co. |  |  |
| 1.75%, 12/02/26 | &nbsp;&nbsp; 356 | 335948 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| 4.00%, 06/01/28 | &nbsp;&nbsp; $200 | $195611 |
| Cargo Aircraft Management Inc., 4.75%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 205 | 195623 |
| CH Robinson Worldwide Inc., 4.20%, 04/15/28 | &nbsp;&nbsp; 220 | 215399 |
| CSX Corp. |  |  |
| 2.60%, 11/01/26 | &nbsp;&nbsp; 185 | 178436 |
| 3.25%, 06/01/27 | &nbsp;&nbsp; 345 | 334670 |
| 3.35%, 11/01/25 | &nbsp;&nbsp; 250 | 247117 |
| 3.80%, 03/01/28 | &nbsp;&nbsp; 345 | 336726 |
| 4.25%, 03/15/29 | &nbsp;&nbsp; 210 | 207015 |
| Danaos Corp., 8.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 95 | 97448 |
| FedEx Corp. |  |  |
| 3.10%, 08/05/29 | &nbsp;&nbsp; 310 | 287999 |
| 3.25%, 04/01/26 | &nbsp;&nbsp; 250 | 245102 |
| 3.40%, 02/15/28 | &nbsp;&nbsp; 230 | 221178 |
| 4.20%, 10/17/28 | &nbsp;&nbsp; 100 | 98144 |
| First Student Bidco Inc./First Transit Parent Inc., <br> 4.00%, 07/31/29<sup>(b)</sup><br>| &nbsp;&nbsp; 100 | 92095 |
| Georgian Railway JSC, 4.00%, 06/17/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 176630 |
| Indian Railway Finance Corp. Ltd., 3.84%, <br> 12/13/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 194171 |
| JB Hunt Transport Services Inc., 3.88%, 03/01/26 | &nbsp;&nbsp; 250 | 247025 |
| Kirby Corp., 4.20%, 03/01/28 | &nbsp;&nbsp; 5 | 4860 |
| Misc Capital Two Labuan Ltd., 3.75%, 04/06/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194739 |
| MTR Corp. CI Ltd., 2.50%, 11/02/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192801 |
| Norfolk Southern Corp. |  |  |
| 2.90%, 06/15/26 | &nbsp;&nbsp; 175 | 170325 |
| 3.15%, 06/01/27 | &nbsp;&nbsp; 155 | 149540 |
| 3.80%, 08/01/28 | &nbsp;&nbsp; 224 | 218165 |
| 7.80%, 05/15/27 | &nbsp;&nbsp; 55 | 59131 |
| Pacific National Finance Pty. Ltd., 4.75%, <br> 03/22/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 192363 |
| Rumo Luxembourg SARL, 5.25%, 01/10/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195502 |
| RXO Inc., 7.50%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 135 | 140177 |
| Ryder System Inc. |  |  |
| 1.75%, 09/01/26 | &nbsp;&nbsp; 110 | 104117 |
| 2.85%, 03/01/27 | &nbsp;&nbsp; 155 | 148335 |
| 2.90%, 12/01/26 | &nbsp;&nbsp; 135 | 130145 |
| 4.30%, 06/15/27 | &nbsp;&nbsp; 130 | 128397 |
| 4.90%, 12/01/29 | &nbsp;&nbsp; 35 | 34922 |
| 4.95%, 09/01/29 | &nbsp;&nbsp; 55 | 54926 |
| 5.25%, 06/01/28 | &nbsp;&nbsp; 200 | 202472 |
| 5.30%, 03/15/27 | &nbsp;&nbsp; 90 | 91020 |
| 5.38%, 03/15/29 | &nbsp;&nbsp; 130 | 132141 |
| 5.50%, 06/01/29 | &nbsp;&nbsp; 40 | 40846 |
| 5.65%, 03/01/28 | &nbsp;&nbsp; 220 | 225629 |
| 6.30%, 12/01/28 | &nbsp;&nbsp; 140 | 147428 |
| Sats Treasury Pte Ltd., 4.83%, 01/23/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199322 |
| Seaspan Corp., 5.50%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 190277 |
| SF Holding Investment Ltd., 2.38%, 11/17/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190327 |
| Transnet SOC Ltd., 8.25%, 02/06/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 406865 |
| Ukraine Railways Via Rail Capital Markets PLC, <br> 8.25%, 07/09/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 170501 |
| Union Pacific Corp. |  |  |
| 2.15%, 02/05/27 | &nbsp;&nbsp; 70 | 66613 |
| 2.75%, 03/01/26 | &nbsp;&nbsp; 15 | 14652 |
| 3.00%, 04/15/27 | &nbsp;&nbsp; 135 | 130395 |
| 3.70%, 03/01/29 | &nbsp;&nbsp; 300 | 289986 |
| 3.95%, 09/10/28 | &nbsp;&nbsp; 415 | 406250 |
| 4.75%, 02/21/26 | &nbsp;&nbsp; 280 | 280728 |
| 6.63%, 02/01/29 | &nbsp;&nbsp; 120 | 129374 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| United Parcel Service Inc. |  |  |
| 2.40%, 11/15/26 | &nbsp;&nbsp; $65 | $62429 |
| 2.50%, 09/01/29 | &nbsp;&nbsp; 35 | 31887 |
| 3.05%, 11/15/27 | &nbsp;&nbsp; 520 | 499099 |
| 3.40%, 03/15/29 | &nbsp;&nbsp; 205 | 195671 |
| Walmart Inc. |  |  |
| 1.05%, 09/17/26 | &nbsp;&nbsp; 580 | 546598 |
| 1.50%, 09/22/28 | &nbsp;&nbsp; 785 | 706515 |
| 3.95%, 09/09/27 | &nbsp;&nbsp; 245 | 242734 |
| XPO Inc., 6.25%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 285 | 289342 |
|  |  | 12614322 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| DAE Funding LLC, 3.38%, 03/20/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188606 |
| Fortress Transportation and Infrastructure <br> Investors LLC, 5.50%, 05/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 300 | 294483 |
| GATX Corp. |  |  |
| 3.25%, 09/15/26 | &nbsp;&nbsp; 172 | 167566 |
| 3.50%, 03/15/28 | &nbsp;&nbsp; 115 | 109623 |
| 4.55%, 11/07/28 | &nbsp;&nbsp; 100 | 98606 |
| 4.70%, 04/01/29 | &nbsp;&nbsp; 165 | 163716 |
| 5.40%, 03/15/27 | &nbsp;&nbsp; 30 | 30419 |
| NAC Aviation 29 DAC, 4.75%, 06/30/26 | &nbsp;&nbsp; 198 | 188728 |
| Penske Truck Leasing Co. LP/PTL Finance Corp. |  |  |
| 1.20%, 11/15/25<sup>(b)</sup> | &nbsp;&nbsp; 320 | 308028 |
| 1.70%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 102 | 96902 |
| 3.40%, 11/15/26<sup>(b)</sup> | &nbsp;&nbsp; 165 | 160335 |
| 4.20%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 165 | 162256 |
| 4.40%, 07/01/27<sup>(b)</sup> | &nbsp;&nbsp; 291 | 287298 |
| 4.45%, 01/29/26<sup>(b)</sup> | &nbsp;&nbsp; 174 | 172721 |
| 5.25%, 07/01/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 151344 |
| 5.35%, 01/12/27<sup>(b)</sup> | &nbsp;&nbsp; 80 | 80712 |
| 5.35%, 03/30/29<sup>(b)</sup> | &nbsp;&nbsp; 150 | 151772 |
| 5.55%, 05/01/28<sup>(b)</sup> | &nbsp;&nbsp; 190 | 193627 |
| 5.70%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 275656 |
| 5.75%, 05/24/26<sup>(b)</sup> | &nbsp;&nbsp; 195 | 197153 |
| 5.88%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 190 | 195403 |
| 6.05%, 08/01/28<sup>(b)</sup> | &nbsp;&nbsp; 270 | 279184 |
| SMBC Aviation Capital Finance DAC |  |  |
| 1.90%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 270 | 254450 |
| 2.30%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 181443 |
| 5.30%, 04/03/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201336 |
| 5.45%, 05/03/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 202144 |
|  |  | 4793511 |
| **Venture Capital — 0.0%** | **Venture Capital — 0.0%** | **Venture Capital — 0.0%** |
| Hercules Capital Inc., 3.38%, 01/20/27 | &nbsp;&nbsp; 215 | 203694 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| Aegea Finance SARL, 6.75%, 05/20/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198574 |
| American Water Capital Corp. |  |  |
| 2.95%, 09/01/27 | &nbsp;&nbsp; 100 | 95683 |
| 3.45%, 06/01/29 | &nbsp;&nbsp; 175 | 165348 |
| 3.75%, 09/01/28 | &nbsp;&nbsp; 40 | 38646 |
| Essential Utilities Inc. |  |  |
| 3.57%, 05/01/29 | &nbsp;&nbsp; 120 | 113510 |
| 4.80%, 08/15/27 | &nbsp;&nbsp; 125 | 125028 |
| United Utilities PLC, 6.88%, 08/15/28 | &nbsp;&nbsp; 120 | 128036 |
|  |  | 864825 |
| **Total Corporate Bonds & Notes — 34.5%** <br>**(Cost: $1,415,749,733)** | **Total Corporate Bonds & Notes — 34.5%** <br>**(Cost: $1,415,749,733)** | 1412002949 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Foreign Government Obligations**<sup>(l)</sup> | **Foreign Government Obligations**<sup>(l)</sup> | **Foreign Government Obligations**<sup>(l)</sup> |
| **Angola — 0.0%** | **Angola — 0.0%** | **Angola — 0.0%** |
| Angolan Government International Bond |  |  |
| 8.25%, 05/09/28<sup>(d)</sup> | &nbsp;&nbsp; $400 | $381115 |
| 9.50%, 11/12/25<sup>(d)</sup> | &nbsp;&nbsp; 300 | 304159 |
|  |  | 685274 |
| **Argentina — 0.1%** | **Argentina — 0.1%** | **Argentina — 0.1%** |
| Argentine Republic Government International Bond, <br> 1.00%, 07/09/29<sup>(c)</sup><br>| &nbsp;&nbsp; 1200 | 859689 |
| Bonos Para La Reconstruccion De Una <br> Argentina Libre<br>|  |  |
| 3.00%, 05/31/26 | &nbsp;&nbsp; 1000 | 886852 |
| 5.00%, 10/31/27 | &nbsp;&nbsp; 1400 | 1221487 |
| Ciudad Autonoma De Buenos Aires/Government <br> Bond, 7.50%, 06/01/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 198243 |
| Provincia de Cordoba, 6.99%, 06/01/27<sup>(d)(g)</sup> | &nbsp;&nbsp; 200 | 186000 |
|  |  | 3352271 |
| **Australia — 0.0%** | **Australia — 0.0%** | **Australia — 0.0%** |
| Export Finance & Insurance Corp., 3.88%, <br> 10/23/29<sup>(b)</sup><br>| &nbsp;&nbsp; 400 | 393393 |
| **Bahrain — 0.1%** | **Bahrain — 0.1%** | **Bahrain — 0.1%** |
| Bahrain Government International Bond |  |  |
| 4.25%, 01/25/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 189910 |
| 6.75%, 09/20/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205497 |
| 7.00%, 01/26/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 605976 |
| 7.00%, 10/12/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 415093 |
| CBB International Sukuk Programme Co. |  |  |
| 3.88%, 05/18/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 187143 |
| 3.95%, 09/16/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 383619 |
| 4.50%, 03/30/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 391341 |
|  |  | 2378579 |
| **Bermuda — 0.0%** | **Bermuda — 0.0%** | **Bermuda — 0.0%** |
| Bermuda Government International Bond, 4.75%, <br> 02/15/29<sup>(d)</sup><br>| &nbsp;&nbsp; 205 | 202271 |
| **Bolivia — 0.0%** | **Bolivia — 0.0%** | **Bolivia — 0.0%** |
| Bolivian Government International Bond, 4.50%, <br> 03/20/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 126039 |
| **Brazil — 0.1%** | **Brazil — 0.1%** | **Brazil — 0.1%** |
| Brazilian Government International Bond |  |  |
| 4.50%, 05/30/29<sup>(c)</sup> | &nbsp;&nbsp; 600 | 577421 |
| 4.63%, 01/13/28 | &nbsp;&nbsp; 1000 | 989637 |
| 6.00%, 04/07/26 | &nbsp;&nbsp; 625 | 631930 |
| 10.13%, 05/15/27<sup>(c)</sup> | &nbsp;&nbsp; 200 | 224153 |
|  |  | 2423141 |
| **Canada — 0.7%** | **Canada — 0.7%** | **Canada — 0.7%** |
| Canada Government International Bond |  |  |
| 0.75%, 05/19/26 | &nbsp;&nbsp; 925 | 876579 |
| 3.75%, 04/26/28 | &nbsp;&nbsp; 1115 | 1100681 |
| 4.63%, 04/30/29 | &nbsp;&nbsp; 1000 | 1017473 |
| CDP Financial Inc. |  |  |
| 1.00%, 05/26/26<sup>(b)</sup> | &nbsp;&nbsp; 365 | 346137 |
| 4.25%, 07/25/28<sup>(b)</sup> | &nbsp;&nbsp; 415 | 413385 |
| 4.88%, 06/05/29<sup>(b)(c)</sup> | &nbsp;&nbsp; 500 | 509363 |
| CPPIB Capital Inc. |  |  |
| 0.88%, 09/09/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 915 | 859193 |
| 4.25%, 07/20/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 1985 | 1980107 |
| Export Development Canada |  |  |
| 3.00%, 05/25/27 | &nbsp;&nbsp; 45 | 43680 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 3.88%, 02/14/28 | &nbsp;&nbsp; $2305 | $2281296 |
| 4.13%, 02/13/29 | &nbsp;&nbsp; 900 | 896376 |
| Ontario Teachers' Finance Trust |  |  |
| 0.88%, 09/21/26<sup>(b)</sup> | &nbsp;&nbsp; 885 | 829630 |
| 4.25%, 04/25/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 1500 | 1492034 |
| Province of Alberta Canada |  |  |
| 3.30%, 03/15/28 | &nbsp;&nbsp; 150 | 145252 |
| 4.50%, 06/26/29 | &nbsp;&nbsp; 450 | 452317 |
| Province of British Columbia Canada |  |  |
| 0.90%, 07/20/26 | &nbsp;&nbsp; 1010 | 952989 |
| 2.25%, 06/02/26 | &nbsp;&nbsp; 495 | 479086 |
| 4.80%, 11/15/28 | &nbsp;&nbsp; 615 | 625864 |
| 4.90%, 04/24/29 | &nbsp;&nbsp; 800 | 817161 |
| 6.50%, 01/15/26 | &nbsp;&nbsp; 300 | 306611 |
| Province of Manitoba Canada |  |  |
| 1.50%, 10/25/28 | &nbsp;&nbsp; 315 | 282822 |
| 2.13%, 06/22/26 | &nbsp;&nbsp; 570 | 549416 |
| Province of New Brunswick Canada, 3.63%, <br> 02/24/28<br>| &nbsp;&nbsp; 5 | 4865 |
| Province of Ontario Canada |  |  |
| 0.63%, 01/21/26 | &nbsp;&nbsp; 1536 | 1466510 |
| 1.05%, 04/14/26 | &nbsp;&nbsp; 702 | 669011 |
| 1.05%, 05/21/27 | &nbsp;&nbsp; 65 | 59921 |
| 2.00%, 10/02/29 | &nbsp;&nbsp; 400 | 358404 |
| 2.30%, 06/15/26 | &nbsp;&nbsp; 1132 | 1094972 |
| 2.50%, 04/27/26 | &nbsp;&nbsp; 782 | 760599 |
| 3.10%, 05/19/27 | &nbsp;&nbsp; 1265 | 1227946 |
| 3.70%, 09/17/29 | &nbsp;&nbsp; 600 | 583189 |
| 4.20%, 01/18/29 | &nbsp;&nbsp; 900 | 894305 |
| Province of Quebec Canada |  |  |
| 2.50%, 04/20/26 | &nbsp;&nbsp; 852 | 828776 |
| 2.75%, 04/12/27 | &nbsp;&nbsp; 255 | 245843 |
| 3.63%, 04/13/28 | &nbsp;&nbsp; 1290 | 1261976 |
| 4.50%, 04/03/29 | &nbsp;&nbsp; 800 | 804187 |
| Series PD, 7.50%, 09/15/29 | &nbsp;&nbsp; 500 | 566410 |
| Province of Saskatchewan Canada, 3.25%, <br> 06/08/27<br>| &nbsp;&nbsp; 15 | 14577 |
| PSP Capital Inc. |  |  |
| 1.00%, 06/29/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 250 | 236271 |
| 1.63%, 10/26/28<sup>(b)</sup> | &nbsp;&nbsp; 35 | 31548 |
| 3.75%, 10/02/29<sup>(b)</sup> | &nbsp;&nbsp; 400 | 388816 |
|  |  | 28755578 |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Chile Government International Bond |  |  |
| 2.75%, 01/31/27 | &nbsp;&nbsp; 400 | 382431 |
| 3.13%, 01/21/26 | &nbsp;&nbsp; 200 | 195803 |
| 3.24%, 02/06/28 | &nbsp;&nbsp; 600 | 573378 |
| 4.85%, 01/22/29 | &nbsp;&nbsp; 600 | 601412 |
|  |  | 1753024 |
| **China — 0.1%** | **China — 0.1%** | **China — 0.1%** |
| China Government International Bond |  |  |
| 1.25%, 10/26/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 378562 |
| 2.63%, 11/02/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 385758 |
| 3.50%, 10/19/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195700 |
| Export-Import Bank of China (The) |  |  |
| 2.88%, 04/26/26<sup>(d)</sup> | &nbsp;&nbsp; 800 | 781704 |
| 3.25%, 11/28/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194619 |
| 3.38%, 03/14/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392635 |
|  |  | 2328978 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Colombia Government International Bond |  |  |
| 3.88%, 04/25/27 | &nbsp;&nbsp; $600 | $574819 |
| 4.50%, 01/28/26 | &nbsp;&nbsp; 600 | 594097 |
| 4.50%, 03/15/29 | &nbsp;&nbsp; 400 | 371658 |
|  |  | 1540574 |
| **Denmark — 0.0%** | **Denmark — 0.0%** | **Denmark — 0.0%** |
| Kommunekredit, 0.50%, 01/28/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 190498 |
| **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** |
| Dominican Republic International Bond |  |  |
| 5.50%, 02/22/29<sup>(d)</sup> | &nbsp;&nbsp; 350 | 342990 |
| 5.95%, 01/25/27<sup>(d)</sup> | &nbsp;&nbsp; 600 | 601728 |
| 6.00%, 07/19/28<sup>(d)</sup> | &nbsp;&nbsp; 300 | 301442 |
| 6.88%, 01/29/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 607553 |
|  |  | 1853713 |
| **Egypt — 0.1%** | **Egypt — 0.1%** | **Egypt — 0.1%** |
| Egypt Government International Bond |  |  |
| 3.88%, 02/16/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 191786 |
| 5.80%, 09/30/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 376156 |
| 6.59%, 02/21/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 379023 |
| 7.50%, 01/31/27<sup>(d)</sup> | &nbsp;&nbsp; 600 | 595128 |
| 7.60%, 03/01/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 382923 |
| Egyptian Financial Co. for Sovereign Taskeek (The), <br> 10.88%, 02/28/26<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 416011 |
|  |  | 2341027 |
| **El Salvador — 0.0%** | **El Salvador — 0.0%** | **El Salvador — 0.0%** |
| El Salvador Government International Bond, 8.63%, <br> 02/28/29<sup>(d)</sup><br>| &nbsp;&nbsp; 63 | 62095 |
| **Ethiopia — 0.0%** | **Ethiopia — 0.0%** | **Ethiopia — 0.0%** |
| Ethiopia International Bond, 6.63%, 12/11/24<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 270 | 210041 |
| **Finland — 0.1%** | **Finland — 0.1%** | **Finland — 0.1%** |
| Finland Government International Bond, 6.95%, <br> 02/15/26<br>| &nbsp;&nbsp; 200 | 205654 |
| Kuntarahoitus OYJ |  |  |
| 3.63%, 10/09/29<sup>(b)</sup> | &nbsp;&nbsp; 1000 | 972493 |
| 4.25%, 01/31/29<sup>(b)</sup> | &nbsp;&nbsp; 500 | 499185 |
| 4.88%, 01/13/27<sup>(b)</sup> | &nbsp;&nbsp; 500 | 505148 |
|  |  | 2182480 |
| **France — 0.3%** | **France — 0.3%** | **France — 0.3%** |
| Agence Francaise de Developpement EPIC |  |  |
| 4.00%, 09/21/27<sup>(d)</sup> | &nbsp;&nbsp; 600 | 592805 |
| 4.50%, 03/05/29<sup>(d)</sup> | &nbsp;&nbsp; 600 | 600250 |
| Caisse d'Amortissement de la Dette Sociale |  |  |
| 3.75%, 09/12/27<sup>(b)</sup> | &nbsp;&nbsp; 900 | 887512 |
| 3.75%, 05/24/28<sup>(b)</sup> | &nbsp;&nbsp; 3965 | 3894746 |
| 4.00%, 01/25/26<sup>(b)(c)</sup> | &nbsp;&nbsp; 475 | 472091 |
| 4.25%, 01/24/27<sup>(b)</sup> | &nbsp;&nbsp; 1000 | 997626 |
| 4.50%, 05/22/29<sup>(b)</sup> | &nbsp;&nbsp; 1000 | 1005054 |
| 4.88%, 09/19/26<sup>(b)</sup> | &nbsp;&nbsp; 1300 | 1312095 |
| Caisse des Depots et Consignations, 4.25%, <br> 01/31/27<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 397939 |
| SFIL SA |  |  |
| 0.63%, 02/09/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 570437 |
| 5.00%, 04/26/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 404848 |
|  |  | 11135403 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany — 0.0%** | **Germany — 0.0%** | **Germany — 0.0%** |
| State of North Rhine-Westphalia Germany |  |  |
| 1.00%, 04/21/26<sup>(d)</sup> | &nbsp;&nbsp; $200 | $190265 |
| 4.38%, 02/16/27<sup>(d)</sup> | &nbsp;&nbsp; 800 | 799477 |
|  |  | 989742 |
| **Ghana — 0.0%** | **Ghana — 0.0%** | **Ghana — 0.0%** |
| Ghana Government International Bond |  |  |
| 0.00%, 01/03/30<sup>(d)(j)</sup> | &nbsp;&nbsp; 80 | 60395 |
| 5.00%, 07/03/29<sup>(d)(g)</sup> | &nbsp;&nbsp; 339 | 290917 |
|  |  | 351312 |
| **Guatemala — 0.0%** | **Guatemala — 0.0%** | **Guatemala — 0.0%** |
| Guatemala Government Bond |  |  |
| 4.38%, 06/05/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 192649 |
| 4.50%, 05/03/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392104 |
| 5.25%, 08/10/29 | &nbsp;&nbsp; 200 | 193950 |
|  |  | 778703 |
| **Honduras — 0.0%** | **Honduras — 0.0%** | **Honduras — 0.0%** |
| Honduras Government International Bond, 6.25%, <br> 01/19/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 195086 |
| **Hong Kong — 0.1%** | **Hong Kong — 0.1%** | **Hong Kong — 0.1%** |
| Airport Authority |  |  |
| 1.75%, 01/12/27<sup>(b)</sup> | &nbsp;&nbsp; 400 | 377814 |
| 2.10% , (5-year CMT + 4.697%)<sup>(a)(d)(f)</sup> | &nbsp;&nbsp; 400 | 385042 |
| 4.75%, 01/12/28<sup>(b)</sup> | &nbsp;&nbsp; 400 | 403513 |
| Hong Kong Government International Bond |  |  |
| 0.63%, 02/02/26<sup>(b)</sup> | &nbsp;&nbsp; 600 | 573195 |
| 4.25%, 07/24/27<sup>(b)</sup> | &nbsp;&nbsp; 200 | 201281 |
| 4.50%, 01/11/28<sup>(b)</sup> | &nbsp;&nbsp; 600 | 604475 |
| Hong Kong Mortgage Corp. Ltd. (The), 4.88%, <br> 09/13/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 202656 |
| Hong Kong Sukuk 2017 Ltd., 3.13%, 02/28/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 195464 |
|  |  | 2943440 |
| **Hungary — 0.1%** | **Hungary — 0.1%** | **Hungary — 0.1%** |
| Hungary Government International Bond |  |  |
| 5.25%, 06/16/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 396374 |
| 6.13%, 05/22/28<sup>(d)</sup> | &nbsp;&nbsp; 600 | 617555 |
| Magyar Export-Import Bank Zrt, 6.13%, 12/04/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 407778 |
| MFB Magyar Fejlesztesi Bank Zrt, 6.50%, <br> 06/29/28<sup>(d)</sup><br>| &nbsp;&nbsp; 400 | 414080 |
|  |  | 1835787 |
| **India — 0.0%** | **India — 0.0%** | **India — 0.0%** |
| Export-Import Bank of India |  |  |
| 3.38%, 08/05/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 390067 |
| 3.88%, 02/01/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194039 |
|  |  | 584106 |
| **Indonesia — 0.2%** | **Indonesia — 0.2%** | **Indonesia — 0.2%** |
| Indonesia Government International Bond |  |  |
| 3.50%, 01/11/28 | &nbsp;&nbsp; 600 | 579243 |
| 3.85%, 07/18/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 393132 |
| 4.15%, 09/20/27 | &nbsp;&nbsp; 300 | 296586 |
| 4.35%, 01/08/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 398407 |
| 4.40%, 03/10/29 | &nbsp;&nbsp; 200 | 197697 |
| 4.55%, 01/11/28 | &nbsp;&nbsp; 400 | 398754 |
| 4.75%, 01/08/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 601757 |
| Perusahaan Penerbit SBSN Indonesia III |  |  |
| 1.50%, 06/09/26<sup>(c)(d)</sup> | &nbsp;&nbsp; 400 | 380908 |
| 4.15%, 03/29/27<sup>(d)</sup> | &nbsp;&nbsp; 800 | 792956 |
| 4.40%, 06/06/27<sup>(d)</sup> | &nbsp;&nbsp; 800 | 799296 |
| 4.40%, 03/01/28<sup>(c)(d)</sup> | &nbsp;&nbsp; 400 | 397086 |
| 4.45%, 02/20/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197959 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Indonesia (continued)** | **Indonesia (continued)** | **Indonesia (continued)** |
| 4.55%, 03/29/26<sup>(d)</sup> | &nbsp;&nbsp; $600 | $601408 |
| 5.40%, 11/15/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204761 |
|  |  | 6239950 |
| **Iraq — 0.0%** | **Iraq — 0.0%** | **Iraq — 0.0%** |
| Iraq International Bond, 5.80%, 01/15/28<sup>(d)</sup> | &nbsp;&nbsp; 328 | 315538 |
| **Israel — 0.0%** | **Israel — 0.0%** | **Israel — 0.0%** |
| Israel Government International Bond |  |  |
| 2.88%, 03/16/26<sup>(c)</sup> | &nbsp;&nbsp; 400 | 386622 |
| 3.25%, 01/17/28 | &nbsp;&nbsp; 400 | 374515 |
| 5.38%, 03/12/29 | &nbsp;&nbsp; 600 | 600716 |
|  |  | 1361853 |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| Cassa Depositi e Prestiti SpA, 5.88%, 04/30/29<sup>(b)</sup> | &nbsp;&nbsp; 500 | 512471 |
| Republic of Italy Government International Bond, <br> 1.25%, 02/17/26<br>| &nbsp;&nbsp; 1100 | 1051678 |
|  |  | 1564149 |
| **Ivory Coast — 0.0%** | **Ivory Coast — 0.0%** | **Ivory Coast — 0.0%** |
| Ivory Coast Government International Bond, 6.38%, <br> 03/03/28<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 198303 |
| **Jamaica — 0.0%** | **Jamaica — 0.0%** | **Jamaica — 0.0%** |
| Jamaica Government International Bond, 6.75%, <br> 04/28/28<sup>(c)</sup><br>| &nbsp;&nbsp; 400 | 415262 |
| **Japan — 0.3%** | **Japan — 0.3%** | **Japan — 0.3%** |
| Development Bank of Japan Inc. |  |  |
| 3.25%, 04/28/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 1030 | 1000063 |
| 4.63%, 04/10/29<sup>(b)</sup> | &nbsp;&nbsp; 300 | 302094 |
| 5.13%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 300 | 303427 |
| Japan Bank for International Cooperation |  |  |
| 2.13%, 02/16/29 | &nbsp;&nbsp; 420 | 382556 |
| 2.25%, 11/04/26 | &nbsp;&nbsp; 635 | 608647 |
| 2.38%, 04/20/26 | &nbsp;&nbsp; 820 | 795059 |
| 2.75%, 01/21/26 | &nbsp;&nbsp; 845 | 826167 |
| 2.75%, 11/16/27 | &nbsp;&nbsp; 530 | 505119 |
| 2.88%, 06/01/27 | &nbsp;&nbsp; 245 | 235863 |
| 2.88%, 07/21/27 | &nbsp;&nbsp; 390 | 374608 |
| 3.25%, 07/20/28 | &nbsp;&nbsp; 60 | 57696 |
| 4.25%, 01/26/26 | &nbsp;&nbsp; 495 | 492822 |
| 4.25%, 04/27/26 | &nbsp;&nbsp; 1385 | 1379162 |
| 4.63%, 07/22/27 | &nbsp;&nbsp; 500 | 503043 |
| 4.63%, 07/19/28 | &nbsp;&nbsp; 2010 | 2027630 |
| Japan International Cooperation Agency |  |  |
| 2.75%, 04/27/27 | &nbsp;&nbsp; 500 | 479555 |
| 3.25%, 05/25/27 | &nbsp;&nbsp; 690 | 669325 |
| 4.00%, 05/23/28 | &nbsp;&nbsp; 600 | 591628 |
|  |  | 11534464 |
| **Jordan — 0.0%** | **Jordan — 0.0%** | **Jordan — 0.0%** |
| Jordan Government International Bond |  |  |
| 5.75%, 01/31/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196145 |
| 6.13%, 01/29/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198555 |
| 7.50%, 01/13/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 407021 |
| 7.75%, 01/15/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 204872 |
|  |  | 1006593 |
| **Kenya — 0.0%** | **Kenya — 0.0%** | **Kenya — 0.0%** |
| Republic of Kenya Government International Bond |  |  |
| 7.00%, 05/22/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197050 |
| 7.25%, 02/28/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 382174 |
|  |  | 579224 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Kuwait — 0.0%** | **Kuwait — 0.0%** | **Kuwait — 0.0%** |
| Kuwait International Government Bond, 3.50%, <br> 03/20/27<sup>(d)</sup><br>| &nbsp;&nbsp; $1400 | $1374196 |
| **Lebanon — 0.0%** | **Lebanon — 0.0%** | **Lebanon — 0.0%** |
| Lebanon Government International Bond |  |  |
| 6.60%, 11/27/26<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 620 | 52379 |
| 6.75%, 11/29/27<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 370 | 31140 |
| 6.85%, 03/23/27<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 483 | 40438 |
|  |  | 123957 |
| **Luxembourg — 0.0%** | **Luxembourg — 0.0%** | **Luxembourg — 0.0%** |
| Isdb Trust Services No. 2 SARL, 4.75%, 05/15/29<sup>(d)</sup> | &nbsp;&nbsp; 600 | 609292 |
| **Malaysia — 0.0%** | **Malaysia — 0.0%** | **Malaysia — 0.0%** |
| Export-Import Bank of Malaysia Bhd, 1.83%, <br> 11/26/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 188243 |
| Malaysia Sukuk Global Bhd, 3.18%, 04/27/26<sup>(d)</sup> | &nbsp;&nbsp; 350 | 343231 |
|  |  | 531474 |
| **Mexico — 0.1%** | **Mexico — 0.1%** | **Mexico — 0.1%** |
| Mexico Government International Bond |  |  |
| 3.75%, 01/11/28 | &nbsp;&nbsp; 600 | 575946 |
| 4.13%, 01/21/26 | &nbsp;&nbsp; 600 | 595064 |
| 4.15%, 03/28/27 | &nbsp;&nbsp; 800 | 786405 |
| 4.50%, 04/22/29 | &nbsp;&nbsp; 600 | 579566 |
| 5.00%, 05/07/29 | &nbsp;&nbsp; 400 | 392382 |
| 5.40%, 02/09/28 | &nbsp;&nbsp; 600 | 601807 |
|  |  | 3531170 |
| **Mongolia — 0.0%** | **Mongolia — 0.0%** | **Mongolia — 0.0%** |
| Mongolia Government International Bond |  |  |
| 5.13%, 04/07/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196993 |
| 8.65%, 01/19/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 212768 |
|  |  | 409761 |
| **Morocco — 0.0%** | **Morocco — 0.0%** | **Morocco — 0.0%** |
| Morocco Government International Bond |  |  |
| 2.38%, 12/15/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 183260 |
| 5.95%, 03/08/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202929 |
|  |  | 386189 |
| **Netherlands — 0.1%** | **Netherlands — 0.1%** | **Netherlands — 0.1%** |
| BNG Bank NV |  |  |
| 3.50%, 05/19/28<sup>(b)(c)</sup> | &nbsp;&nbsp; 980 | 955017 |
| 3.63%, 10/01/26<sup>(b)</sup> | &nbsp;&nbsp; 700 | 691796 |
| 4.25%, 01/25/29<sup>(b)</sup> | &nbsp;&nbsp; 700 | 699007 |
| 4.50%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 400 | 401507 |
| 5.25%, 10/26/26<sup>(b)</sup> | &nbsp;&nbsp; 400 | 407228 |
| Nederlandse Financierings-Maatschappij voor <br> Ontwikkelingslanden NV, 4.50%, 06/12/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 201462 |
| Nederlandse Waterschapsbank NV, 4.38%, <br> 02/28/29<sup>(b)</sup><br>| &nbsp;&nbsp; 500 | 500704 |
|  |  | 3856721 |
| **Nigeria — 0.0%** | **Nigeria — 0.0%** | **Nigeria — 0.0%** |
| Nigeria Government International Bond |  |  |
| 6.13%, 09/28/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 360361 |
| 6.50%, 11/28/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 377129 |
| 7.63%, 11/21/25<sup>(d)</sup> | &nbsp;&nbsp; 400 | 398068 |
| 8.38%, 03/24/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 385113 |
|  |  | 1520671 |
| **Norway — 0.1%** | **Norway — 0.1%** | **Norway — 0.1%** |
| Kommunalbanken AS |  |  |
| 1.50%, 01/20/27<sup>(b)</sup> | &nbsp;&nbsp; 910 | 856070 |
| 4.25%, 01/24/29<sup>(b)</sup> | &nbsp;&nbsp; 500 | 499494 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| 4.50%, 09/01/28<sup>(b)(c)</sup> | &nbsp;&nbsp; $1995 | $2011593 |
|  |  | 3367157 |
| **Oman — 0.1%** | **Oman — 0.1%** | **Oman — 0.1%** |
| Oman Government International Bond |  |  |
| 4.75%, 06/15/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 594130 |
| 5.38%, 03/08/27<sup>(d)</sup> | &nbsp;&nbsp; 550 | 550210 |
| 5.63%, 01/17/28<sup>(d)</sup> | &nbsp;&nbsp; 800 | 805125 |
| 6.00%, 08/01/29<sup>(d)</sup> | &nbsp;&nbsp; 600 | 613538 |
| 6.75%, 10/28/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 415745 |
|  |  | 2978748 |
| **Pakistan — 0.0%** | **Pakistan — 0.0%** | **Pakistan — 0.0%** |
| Pakistan Global Sukuk Programme Co. Ltd. (The), <br> 7.95%, 01/31/29<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 186319 |
| Pakistan Government International Bond |  |  |
| 6.00%, 04/08/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 375066 |
| 6.88%, 12/05/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 361600 |
|  |  | 922985 |
| **Panama — 0.0%** | **Panama — 0.0%** | **Panama — 0.0%** |
| Panama Government International Bond |  |  |
| 3.88%, 03/17/28 | &nbsp;&nbsp; 400 | 376124 |
| 7.13%, 01/29/26 | &nbsp;&nbsp; 300 | 305747 |
| 8.88%, 09/30/27 | &nbsp;&nbsp; 350 | 381727 |
| 9.38%, 04/01/29 | &nbsp;&nbsp; 100 | 113044 |
|  |  | 1176642 |
| **Paraguay — 0.0%** | **Paraguay — 0.0%** | **Paraguay — 0.0%** |
| Paraguay Government International Bond, 4.70%, <br> 03/27/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 197718 |
| **Peru — 0.0%** | **Peru — 0.0%** | **Peru — 0.0%** |
| Corp. Financiera de Desarrollo SA, 2.40%, <br> 09/28/27<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 184587 |
| Fondo MIVIVIENDA SA, 4.63%, 04/12/27<sup>(d)</sup> | &nbsp;&nbsp; 150 | 148221 |
| Peruvian Government International Bond, 4.13%, <br> 08/25/27<sup>(c)</sup><br>| &nbsp;&nbsp; 200 | 196141 |
|  |  | 528949 |
| **Philippines — 0.1%** | **Philippines — 0.1%** | **Philippines — 0.1%** |
| Philippine Government International Bond |  |  |
| 3.00%, 02/01/28 | &nbsp;&nbsp; 800 | 758938 |
| 3.23%, 03/29/27 | &nbsp;&nbsp; 200 | 194063 |
| 3.75%, 01/14/29 | &nbsp;&nbsp; 400 | 386146 |
| 5.17%, 10/13/27 | &nbsp;&nbsp; 200 | 203459 |
| 5.50%, 03/30/26 | &nbsp;&nbsp; 200 | 202552 |
| ROP Sukuk Trust, 5.05%, 06/06/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202609 |
|  |  | 1947767 |
| **Poland — 0.0%** | **Poland — 0.0%** | **Poland — 0.0%** |
| Bank Gospodarstwa Krajowego, 6.25%, 10/31/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 209274 |
| Republic of Poland Government International Bond |  |  |
| 3.25%, 04/06/26 | &nbsp;&nbsp; 500 | 490941 |
| 4.63%, 03/18/29 | &nbsp;&nbsp; 400 | 400098 |
| 5.50%, 11/16/27 | &nbsp;&nbsp; 600 | 615950 |
|  |  | 1716263 |
| **Qatar — 0.1%** | **Qatar — 0.1%** | **Qatar — 0.1%** |
| Qatar Government International Bond |  |  |
| 3.25%, 06/02/26<sup>(d)</sup> | &nbsp;&nbsp; 1200 | 1175735 |
| 4.00%, 03/14/29<sup>(d)</sup> | &nbsp;&nbsp; 1200 | 1179604 |
| 4.50%, 04/23/28<sup>(d)</sup> | &nbsp;&nbsp; 1000 | 1005193 |
|  |  | 3360532 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Romania — 0.0%** | **Romania — 0.0%** | **Romania — 0.0%** |
| Romanian Government International Bond |  |  |
| 3.00%, 02/27/27<sup>(d)</sup> | &nbsp;&nbsp; $400 | $379966 |
| 5.25%, 11/25/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 396918 |
| 5.88%, 01/30/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 401727 |
| 6.63%, 02/17/28<sup>(d)</sup> | &nbsp;&nbsp; 500 | 515322 |
|  |  | 1693933 |
| **Saudi Arabia — 0.2%** | **Saudi Arabia — 0.2%** | **Saudi Arabia — 0.2%** |
| KSA Sukuk Ltd. |  |  |
| 2.97%, 10/29/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 367312 |
| 3.63%, 04/20/27<sup>(d)</sup> | &nbsp;&nbsp; 1900 | 1855853 |
| 4.27%, 05/22/29<sup>(d)</sup> | &nbsp;&nbsp; 1000 | 982234 |
| 4.30%, 01/19/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 393613 |
| 5.27%, 10/25/28<sup>(d)</sup> | &nbsp;&nbsp; 600 | 612431 |
| Saudi Government International Bond |  |  |
| 2.50%, 02/03/27<sup>(d)</sup> | &nbsp;&nbsp; 600 | 572358 |
| 3.25%, 10/26/26<sup>(d)</sup> | &nbsp;&nbsp; 1600 | 1556457 |
| 3.63%, 03/04/28<sup>(d)</sup> | &nbsp;&nbsp; 1600 | 1546356 |
| 4.38%, 04/16/29<sup>(d)</sup> | &nbsp;&nbsp; 1000 | 985770 |
| 4.75%, 01/18/28<sup>(d)</sup> | &nbsp;&nbsp; 800 | 803320 |
|  |  | 9675704 |
| **Serbia — 0.0%** | **Serbia — 0.0%** | **Serbia — 0.0%** |
| Serbia International Bond, 6.25%, 05/26/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205829 |
| **South Africa — 0.0%** | **South Africa — 0.0%** | **South Africa — 0.0%** |
| Republic of South Africa Government <br> International Bond<br>|  |  |
| 4.30%, 10/12/28 | &nbsp;&nbsp; 400 | 378107 |
| 4.85%, 09/27/27 | &nbsp;&nbsp; 200 | 195901 |
| 4.85%, 09/30/29 | &nbsp;&nbsp; 400 | 377064 |
| 4.88%, 04/14/26 | &nbsp;&nbsp; 600 | 593362 |
|  |  | 1544434 |
| **South Korea — 0.3%** | **South Korea — 0.3%** | **South Korea — 0.3%** |
| Export-Import Bank of Korea |  |  |
| 0.63%, 02/09/26 | &nbsp;&nbsp; 410 | 390141 |
| 1.13%, 12/29/26 | &nbsp;&nbsp; 400 | 372239 |
| 1.63%, 01/18/27 | &nbsp;&nbsp; 400 | 376227 |
| 1.75%, 10/19/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 179561 |
| 2.38%, 04/21/27 | &nbsp;&nbsp; 200 | 190376 |
| 2.63%, 05/26/26 | &nbsp;&nbsp; 800 | 775784 |
| 3.25%, 11/10/25 | &nbsp;&nbsp; 200 | 196833 |
| 4.00%, 09/11/29 | &nbsp;&nbsp; 200 | 195143 |
| 4.25%, 09/15/27 | &nbsp;&nbsp; 400 | 397874 |
| 4.50%, 01/11/29 | &nbsp;&nbsp; 200 | 199427 |
| 4.88%, 01/11/26 | &nbsp;&nbsp; 400 | 400944 |
| 5.00%, 01/11/28 | &nbsp;&nbsp; 400 | 404713 |
| 5.13%, 09/18/28 | &nbsp;&nbsp; 600 | 611118 |
| Incheon International Airport Corp., 1.25%, <br> 05/04/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 189775 |
| Industrial Bank of Korea, 5.38%, 10/04/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 205622 |
| Korea Development Bank (The) |  |  |
| 1.38%, 04/25/27 | &nbsp;&nbsp; 200 | 185754 |
| 4.38%, 02/15/28 | &nbsp;&nbsp; 400 | 397418 |
| 4.50%, 02/15/29<sup>(c)</sup> | &nbsp;&nbsp; 600 | 598496 |
| 4.75%, 06/26/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201814 |
| Korea Electric Power Corp, 4.88%, 01/31/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201089 |
| Korea Electric Power Corp. |  |  |
| 4.00%, 06/14/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 197015 |
| 5.38%, 04/06/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201532 |
| 5.38%, 07/31/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 403965 |
| Korea Expressway Corp., 1.13%, 05/17/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 378674 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Korea Gas Corp., 4.88%, 07/05/28<sup>(d)</sup> | &nbsp;&nbsp; $200 | $200815 |
| Korea Housing Finance Corp. |  |  |
| 4.63%, 02/24/28<sup>(d)</sup> | &nbsp;&nbsp; 400 | 399067 |
| 4.88%, 08/27/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201757 |
| Korea Hydro & Nuclear Power Co. Ltd. |  |  |
| 1.25%, 04/27/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 569705 |
| 5.00%, 07/18/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201249 |
| Korea International Bond |  |  |
| 2.50%, 06/19/29 | &nbsp;&nbsp; 200 | 184847 |
| 2.75%, 01/19/27 | &nbsp;&nbsp; 200 | 193440 |
| 3.50%, 09/20/28 | &nbsp;&nbsp; 200 | 193679 |
| 4.50%, 07/03/29 | &nbsp;&nbsp; 400 | 403648 |
| 5.63%, 11/03/25 | &nbsp;&nbsp; 200 | 201870 |
| Korea Mine Rehabilitation & Mineral <br> Resources Corp.<br>|  |  |
| 1.75%, 04/15/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 382059 |
| 5.38%, 05/11/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 202118 |
| Korea National Oil Corp. |  |  |
| 1.25%, 04/07/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 380506 |
| 2.13%, 04/18/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 188470 |
| 3.38%, 03/27/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194359 |
| 4.88%, 04/03/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 201156 |
| 4.88%, 04/03/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200380 |
| 4.88%, 04/03/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 200526 |
| Korea SMEs and Startups Agency, 2.13%, <br> 08/30/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 190791 |
| Korea South-East Power Co. Ltd., 1.00%, <br> 02/03/26<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | 190752 |
|  |  | 12932728 |
| **Sri Lanka — 0.0%** | **Sri Lanka — 0.0%** | **Sri Lanka — 0.0%** |
| Sri Lanka Government International Bond |  |  |
| 6.20%, 05/11/27<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 400 | 248015 |
| 6.83%, 03/14/24<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 400 | 248949 |
| 6.85%, 11/03/25<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 810 | 506703 |
| 7.85%, 03/14/29<sup>(d)(h)(i)</sup> | &nbsp;&nbsp; 200 | 125292 |
|  |  | 1128959 |
| **Supranational — 2.0%** | **Supranational — 2.0%** | **Supranational — 2.0%** |
| Africa Finance Corp. |  |  |
| 2.88%, 04/28/28<sup>(b)</sup> | &nbsp;&nbsp; 200 | 183052 |
| 3.75%, 10/30/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 184000 |
| 4.38%, 04/17/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 196522 |
| African Development Bank |  |  |
| 0.88%, 03/23/26 | &nbsp;&nbsp; 1019 | 970712 |
| 0.88%, 07/22/26 | &nbsp;&nbsp; 1026 | 968252 |
| 3.50%, 09/18/29 | &nbsp;&nbsp; 5 | 4839 |
| 4.38%, 11/03/27 | &nbsp;&nbsp; 320 | 321474 |
| 4.38%, 03/14/28 | &nbsp;&nbsp; 1130 | 1136023 |
| 4.63%, 01/04/27 | &nbsp;&nbsp; 625 | 629779 |
| Arab Petroleum Investments Corp. |  |  |
| 1.26%, 02/10/26<sup>(d)</sup> | &nbsp;&nbsp; 600 | 573445 |
| 5.43%, 05/02/29<sup>(b)</sup> | &nbsp;&nbsp; 400 | 408347 |
| Asian Development Bank |  |  |
| 0.50%, 02/04/26 | &nbsp;&nbsp; 1960 | 1868171 |
| 1.00%, 04/14/26 | &nbsp;&nbsp; 3555 | 3391234 |
| 1.25%, 06/09/28 | &nbsp;&nbsp; 35 | 31600 |
| 1.50%, 01/20/27 | &nbsp;&nbsp; 2065 | 1947601 |
| 1.75%, 08/14/26 | &nbsp;&nbsp; 85 | 81401 |
| 1.75%, 09/19/29 | &nbsp;&nbsp; 100 | 89236 |
| 1.88%, 03/15/29 | &nbsp;&nbsp; 500 | 454109 |
| 2.00%, 04/24/26 | &nbsp;&nbsp; 615 | 594731 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Supranational (continued)** | **Supranational (continued)** | **Supranational (continued)** |
| 2.38%, 08/10/27 | &nbsp;&nbsp; $70 | $66708 |
| 2.50%, 11/02/27 | &nbsp;&nbsp; 65 | 61913 |
| 2.63%, 01/12/27 | &nbsp;&nbsp; 105 | 101496 |
| 2.75%, 01/19/28 | &nbsp;&nbsp; 1030 | 985771 |
| 3.13%, 08/20/27 | &nbsp;&nbsp; 640 | 622137 |
| 3.13%, 09/26/28 | &nbsp;&nbsp; 220 | 211911 |
| 3.63%, 08/28/29 | &nbsp;&nbsp; 50 | 48765 |
| 3.75%, 04/25/28 | &nbsp;&nbsp; 2121 | 2091550 |
| 4.13%, 01/12/27<sup>(c)</sup> | &nbsp;&nbsp; 1015 | 1013513 |
| 4.25%, 01/09/26 | &nbsp;&nbsp; 265 | 264593 |
| 4.38%, 03/06/29 | &nbsp;&nbsp; 1245 | 1253519 |
| 4.50%, 08/25/28 | &nbsp;&nbsp; 1195 | 1208067 |
| 5.82%, 06/16/28 | &nbsp;&nbsp; 20 | 20984 |
| 6.22%, 08/15/27 | &nbsp;&nbsp; 125 | 130484 |
| Asian Infrastructure Investment Bank (The) |  |  |
| 0.50%, 01/27/26 | &nbsp;&nbsp; 492 | 468914 |
| 3.75%, 09/14/27 | &nbsp;&nbsp; 160 | 157992 |
| 4.00%, 01/18/28 | &nbsp;&nbsp; 1075 | 1068725 |
| 4.88%, 09/14/26 | &nbsp;&nbsp; 150 | 151690 |
| Banque Ouest Africaine de Developpement, 5.00%, <br> 07/27/27<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 595 | 580400 |
| Corp. Andina de Fomento |  |  |
| 2.25%, 02/08/27 | &nbsp;&nbsp; 185 | 175826 |
| 4.13%, 01/07/28 | &nbsp;&nbsp; 310 | 306578 |
| 4.75%, 04/01/26 | &nbsp;&nbsp; 205 | 204947 |
| 5.00%, 01/24/29 | &nbsp;&nbsp; 650 | 658727 |
| 6.00%, 04/26/27 | &nbsp;&nbsp; 620 | 640784 |
| Council of Europe Development Bank |  |  |
| 0.88%, 09/22/26 | &nbsp;&nbsp; 351 | 329672 |
| 3.75%, 05/25/26 | &nbsp;&nbsp; 90 | 89243 |
| 4.13%, 01/24/29 | &nbsp;&nbsp; 570 | 567259 |
| 4.63%, 06/11/27 | &nbsp;&nbsp; 320 | 323388 |
| European Bank for Reconstruction & Development |  |  |
| 0.50%, 11/25/25 | &nbsp;&nbsp; 272 | 260949 |
| 0.50%, 01/28/26 | &nbsp;&nbsp; 327 | 311585 |
| 4.13%, 01/25/29 | &nbsp;&nbsp; 950 | 946133 |
| 4.38%, 03/09/28 | &nbsp;&nbsp; 800 | 804305 |
| European Investment Bank |  |  |
| 0.38%, 12/15/25 | &nbsp;&nbsp; 1567 | 1497867 |
| 0.38%, 03/26/26 | &nbsp;&nbsp; 1862 | 1763084 |
| 0.63%, 10/21/27 | &nbsp;&nbsp; 45 | 40585 |
| 0.75%, 10/26/26 | &nbsp;&nbsp; 1660 | 1552002 |
| 1.38%, 03/15/27 | &nbsp;&nbsp; 355 | 332763 |
| 1.75%, 03/15/29 | &nbsp;&nbsp; 225 | 203180 |
| 2.13%, 04/13/26 | &nbsp;&nbsp; 335 | 324863 |
| 2.38%, 05/24/27 | &nbsp;&nbsp; 105 | 100461 |
| 3.25%, 11/15/27 | &nbsp;&nbsp; 1335 | 1300507 |
| 3.88%, 03/15/28 | &nbsp;&nbsp; 3710 | 3675187 |
| 4.00%, 02/15/29 | &nbsp;&nbsp; 2425 | 2406173 |
| 4.50%, 10/16/28 | &nbsp;&nbsp; 1040 | 1052244 |
| 4.75%, 06/15/29 | &nbsp;&nbsp; 1515 | 1549631 |
| European Stability Mechanism, 4.75%, 09/14/26<sup>(b)</sup> | &nbsp;&nbsp; 1000 | 1008607 |
| Inter-American Development Bank |  |  |
| 0.63%, 09/16/27 | &nbsp;&nbsp; 120 | 108510 |
| 0.88%, 04/20/26 | &nbsp;&nbsp; 2595 | 2469201 |
| 1.13%, 07/20/28 | &nbsp;&nbsp; 180 | 161175 |
| 1.50%, 01/13/27 | &nbsp;&nbsp; 40 | 37742 |
| 2.00%, 06/02/26 | &nbsp;&nbsp; 686 | 661967 |
| 2.00%, 07/23/26 | &nbsp;&nbsp; 295 | 283849 |
| 2.25%, 06/18/29 | &nbsp;&nbsp; 1030 | 945946 |
| 2.38%, 07/07/27 | &nbsp;&nbsp; 395 | 376729 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Supranational (continued)** | **Supranational (continued)** | **Supranational (continued)** |
| 3.13%, 09/18/28 | &nbsp;&nbsp; $515 | $495482 |
| 3.50%, 09/14/29 | &nbsp;&nbsp; 110 | 106545 |
| 4.00%, 01/12/28 | &nbsp;&nbsp; 3470 | 3449250 |
| 4.13%, 02/15/29 | &nbsp;&nbsp; 1570 | 1564728 |
| 4.38%, 02/01/27 | &nbsp;&nbsp; 220 | 220698 |
| 4.50%, 05/15/26 | &nbsp;&nbsp; 252 | 252743 |
| Inter-American Investment Corp. |  |  |
| 3.63%, 02/17/27 | &nbsp;&nbsp; 320 | 315394 |
| 4.13%, 02/15/28 | &nbsp;&nbsp; 55 | 54738 |
| 4.25%, 02/14/29 | &nbsp;&nbsp; 310 | 309209 |
| 4.75%, 09/19/28 | &nbsp;&nbsp; 510 | 518320 |
| International Bank for Reconstruction & <br> Development<br>|  |  |
| 0.75%, 11/24/27 | &nbsp;&nbsp; 1400 | 1263190 |
| 0.85%, 02/10/27 | &nbsp;&nbsp; 10 | 9010 |
| 0.88%, 07/15/26 | &nbsp;&nbsp; 170 | 160680 |
| 1.13%, 09/13/28 | &nbsp;&nbsp; 1100 | 980767 |
| 1.38%, 04/20/28 | &nbsp;&nbsp; 2070 | 1883983 |
| 1.75%, 10/23/29 | &nbsp;&nbsp; 700 | 623523 |
| 1.88%, 10/27/26 | &nbsp;&nbsp; 423 | 404270 |
| 2.50%, 11/22/27 | &nbsp;&nbsp; 120 | 114249 |
| 3.13%, 11/20/25 | &nbsp;&nbsp; 478 | 471417 |
| 3.13%, 06/15/27 | &nbsp;&nbsp; 3235 | 3150944 |
| 3.50%, 07/12/28 | &nbsp;&nbsp; 2290 | 2236698 |
| 3.63%, 09/21/29 | &nbsp;&nbsp; 60 | 58458 |
| 3.88%, 10/16/29 | &nbsp;&nbsp; 1500 | 1477888 |
| 4.00%, 08/27/26 | &nbsp;&nbsp; 900 | 896712 |
| 4.63%, 08/01/28 | &nbsp;&nbsp; 1585 | 1608907 |
| 4.75%, 04/10/26 | &nbsp;&nbsp; 900 | 905511 |
| International Development Association |  |  |
| 4.38%, 06/11/29<sup>(b)</sup> | &nbsp;&nbsp; 1215 | 1221444 |
| Series GDIF, 0.75%, 06/10/27<sup>(d)</sup> | &nbsp;&nbsp; 320 | 292662 |
| International Finance Corp. |  |  |
| 0.75%, 10/08/26 | &nbsp;&nbsp; 310 | 290158 |
| 2.13%, 04/07/26 | &nbsp;&nbsp; 37 | 35876 |
| 4.25%, 07/02/29 | &nbsp;&nbsp; 605 | 606086 |
| 4.38%, 01/15/27 | &nbsp;&nbsp; 120 | 120322 |
| 4.50%, 07/13/28 | &nbsp;&nbsp; 685 | 692839 |
| ISDB Trust Services No. 2 SARL, 1.26%, <br> 03/31/26<sup>(d)</sup><br>| &nbsp;&nbsp; 1075 | 1027263 |
| Nordic Investment Bank |  |  |
| 3.38%, 09/08/27 | &nbsp;&nbsp; 200 | 195484 |
| 4.38%, 03/14/28 | &nbsp;&nbsp; 975 | 979552 |
| OPEC Fund for International Development (The), <br> 4.50%, 01/26/26<sup>(b)</sup><br>| &nbsp;&nbsp; 300 | 299043 |
|  |  | 81309372 |
| **Sweden — 0.1%** | **Sweden — 0.1%** | **Sweden — 0.1%** |
| Kommuninvest I Sverige AB, 4.50%, 09/30/26<sup>(b)</sup> | &nbsp;&nbsp; 400 | 401510 |
| Svensk Exportkredit AB |  |  |
| 2.25%, 03/22/27 | &nbsp;&nbsp; 75 | 71476 |
| 3.75%, 09/13/27 | &nbsp;&nbsp; 400 | 394627 |
| 4.13%, 06/14/28 | &nbsp;&nbsp; 30 | 29849 |
| 4.25%, 02/01/29 | &nbsp;&nbsp; 400 | 398640 |
| 4.88%, 09/14/26 | &nbsp;&nbsp; 350 | 353309 |
| Sweden Government International Bond, 4.38%, <br> 01/30/26<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 600 | 599139 |
|  |  | 2248550 |
| **Thailand — 0.0%** | **Thailand — 0.0%** | **Thailand — 0.0%** |
| Export Import Bank of Thailand, 5.35%, 05/16/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203280 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Trinidad and Tobago — 0.0%** | **Trinidad and Tobago — 0.0%** | **Trinidad and Tobago — 0.0%** |
| Trinidad & Tobago Government International Bond, <br> 4.50%, 08/04/26<sup>(d)</sup><br>| &nbsp;&nbsp; $400 | $390321 |
| **Turkey — 0.3%** | **Turkey — 0.3%** | **Turkey — 0.3%** |
| Hazine Mustesarligi Varlik Kiralama AS |  |  |
| 5.13%, 06/22/26<sup>(d)</sup> | &nbsp;&nbsp; 700 | 693938 |
| 7.25%, 02/24/27<sup>(d)</sup> | &nbsp;&nbsp; 1000 | 1030821 |
| 8.51%, 01/14/29<sup>(d)</sup> | &nbsp;&nbsp; 600 | 648185 |
| 9.76%, 11/13/25<sup>(d)</sup> | &nbsp;&nbsp; 800 | 835106 |
| Istanbul Metropolitan Municipality |  |  |
| 6.38%, 12/09/25<sup>(d)</sup> | &nbsp;&nbsp; 200 | 199531 |
| 10.50%, 12/06/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 218625 |
| Turkey Government International Bond |  |  |
| 4.25%, 04/14/26 | &nbsp;&nbsp; 600 | 591291 |
| 4.75%, 01/26/26 | &nbsp;&nbsp; 600 | 597396 |
| 4.88%, 10/09/26<sup>(c)</sup> | &nbsp;&nbsp; 800 | 791651 |
| 5.13%, 02/17/28 | &nbsp;&nbsp; 400 | 390573 |
| 6.00%, 03/25/27 | &nbsp;&nbsp; 1000 | 1010216 |
| 6.13%, 10/24/28 | &nbsp;&nbsp; 600 | 601644 |
| 7.63%, 04/26/29 | &nbsp;&nbsp; 1000 | 1043934 |
| 8.60%, 09/24/27 | &nbsp;&nbsp; 600 | 646455 |
| 9.38%, 03/14/29 | &nbsp;&nbsp; 600 | 667714 |
| 9.88%, 01/15/28 | &nbsp;&nbsp; 1200 | 1338123 |
| Turkiye Ihracat Kredi Bankasi AS |  |  |
| 5.75%, 07/06/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 398355 |
| 9.00%, 01/28/27<sup>(d)</sup> | &nbsp;&nbsp; 200 | 212072 |
| Turkiye Vakiflar Bankasi TAO, 5.50%, 10/01/26<sup>(d)</sup> | &nbsp;&nbsp; 200 | 198525 |
|  |  | 12114155 |
| **Ukraine — 0.0%** | **Ukraine — 0.0%** | **Ukraine — 0.0%** |
| Ukraine Government International Bond, 1.75%, <br> 07/09/24<sup>(d)(g)(h)(i)</sup><br>| &nbsp;&nbsp; 363 | 218186 |
| **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** |
| Abu Dhabi Government International Bond |  |  |
| 1.63%, 06/02/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 180778 |
| 2.50%, 09/30/29<sup>(d)</sup> | &nbsp;&nbsp; 400 | 364655 |
| 3.13%, 05/03/26<sup>(d)</sup> | &nbsp;&nbsp; 1000 | 978095 |
| 3.13%, 10/11/27<sup>(d)</sup> | &nbsp;&nbsp; 1600 | 1544848 |
| 4.88%, 04/30/29<sup>(d)</sup> | &nbsp;&nbsp; 600 | 609115 |
| Dubai DOF Sukuk Ltd., 5.00%, 04/30/29<sup>(d)</sup> | &nbsp;&nbsp; 200 | 203849 |
| Sharjah Sukuk Program Ltd. |  |  |
| 2.94%, 06/10/27<sup>(d)</sup> | &nbsp;&nbsp; 400 | 377114 |
| 3.85%, 04/03/26<sup>(d)</sup> | &nbsp;&nbsp; 400 | 392304 |
| 4.23%, 03/14/28<sup>(d)</sup> | &nbsp;&nbsp; 200 | 194153 |
|  |  | 4844911 |
| **United Kingdom — 0.0%** | **United Kingdom — 0.0%** | **United Kingdom — 0.0%** |
| Bank of England Euro Note |  |  |
| 4.50%, 03/05/27<sup>(b)(c)</sup> | &nbsp;&nbsp; 600 | 602924 |
| 4.63%, 03/06/26<sup>(b)</sup> | &nbsp;&nbsp; 600 | 601505 |
|  |  | 1204429 |
| **Uruguay — 0.0%** | **Uruguay — 0.0%** | **Uruguay — 0.0%** |
| Uruguay Government International Bond, 4.38%, <br> 10/27/27<br>| &nbsp;&nbsp; 500 | 498232 |
| **Total Foreign Government Obligations — 6.1%** <br>**(Cost: $252,380,015)** | **Total Foreign Government Obligations — 6.1%** <br>**(Cost: $252,380,015)** | 251561106 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Municipal Debt Obligations** | **Municipal Debt Obligations** | **Municipal Debt Obligations** |
| **California — 0.1%** | **California — 0.1%** | **California — 0.1%** |
| California Earthquake Authority RB, 5.60%, <br> 07/01/27<br>| &nbsp;&nbsp; $200 | $201569 |
| San Francisco City & County Public Utilities <br> Commission Wastewater Revenue RB, 4.66%, <br> 10/01/27<br>| &nbsp;&nbsp; 250 | 251163 |
| State of California GO |  |  |
| 4.50%, 08/01/29 | &nbsp;&nbsp; 500 | 502745 |
| 5.13%, 09/01/29<sup>(c)</sup> | &nbsp;&nbsp; 200 | 206142 |
| University of California RB |  |  |
| Series BG, 0.88%, 05/15/25 | &nbsp;&nbsp; 70 | 68610 |
| Series BG, 1.32%, 05/15/27 | &nbsp;&nbsp; 600 | 555621 |
|  |  | 1785850 |
| **Florida — 0.0%** | **Florida — 0.0%** | **Florida — 0.0%** |
| State Board of Administration Finance Corp. RB, <br> 1.71%, 07/01/27<sup>(c)</sup><br>| &nbsp;&nbsp; 250 | 230842 |
| **Oregon — 0.0%** | **Oregon — 0.0%** | **Oregon — 0.0%** |
| State of Oregon GO, 5.89%, 06/01/27 | &nbsp;&nbsp; 394 | 402895 |
| **Wisconsin — 0.0%** | **Wisconsin — 0.0%** | **Wisconsin — 0.0%** |
| State of Wisconsin RB, Series C, 3.15%, 05/01/27 | &nbsp;&nbsp; 215 | 208795 |
| **Total Municipal Debt Obligations — 0.1%** <br>**(Cost: $2,623,135)** | **Total Municipal Debt Obligations — 0.1%** <br>**(Cost: $2,623,135)** | 2628382 |
| **U.S. Government & Agency Obligations** | **U.S. Government & Agency Obligations** | **U.S. Government & Agency Obligations** |
| **Mortgage-Backed Securities — 4.3%** | **Mortgage-Backed Securities — 4.3%** | **Mortgage-Backed Securities — 4.3%** |
| Federal Home Loan Mortgage Corp. |  |  |
| 2.50%, 01/01/30 | &nbsp;&nbsp; 191 | 183717 |
| 2.50%, 08/01/31 | &nbsp;&nbsp; 168 | 160165 |
| 2.50%, 10/01/31 | &nbsp;&nbsp; 429 | 406835 |
| 2.50%, 12/01/31 | &nbsp;&nbsp; 243 | 230605 |
| 2.50%, 02/01/32 | &nbsp;&nbsp; 290 | 274848 |
| 2.50%, 01/01/33 | &nbsp;&nbsp; 758 | 715393 |
| 3.00%, 05/01/29 | &nbsp;&nbsp; 5761 | 5634028 |
| 3.00%, 05/01/30 | &nbsp;&nbsp; 175 | 169958 |
| 3.00%, 06/01/30 | &nbsp;&nbsp; 14 | 13259 |
| 3.00%, 07/01/30 | &nbsp;&nbsp; 136 | 132166 |
| 3.00%, 12/01/30 | &nbsp;&nbsp; 204 | 197348 |
| 3.00%, 05/01/31 | &nbsp;&nbsp; 74 | 71200 |
| 3.00%, 06/01/31 | &nbsp;&nbsp; 51 | 49500 |
| 3.50%, 05/01/32 | &nbsp;&nbsp; 41 | 40226 |
| 3.50%, 09/01/32 | &nbsp;&nbsp; 31 | 30108 |
| 3.50%, 07/01/33 | &nbsp;&nbsp; 81 | 78133 |
| 3.50%, 06/01/34 | &nbsp;&nbsp; 376 | 361430 |
| 4.00%, 05/01/33 | &nbsp;&nbsp; 72 | 70455 |
| 6.22%, 02/01/45, <br> (12-mo. LIBOR US + 1.618%)<sup>(a)</sup><br>| &nbsp;&nbsp; 7 | 7188 |
| Federal Home Loan Mortgage Corp. Multifamily <br> Structured Pass-Through Certificates<br>|  |  |
| Series K048, Class A2, 3.28%, 06/25/25<sup>(a)</sup> | &nbsp;&nbsp; 1333 | 1321249 |
| Series K053, Class A2, 3.00%, 12/25/25 | &nbsp;&nbsp; 1000 | 983405 |
| Series K-1512, Class A2, 2.99%, 05/25/31 | &nbsp;&nbsp; 460 | 417995 |
| Series K-1512, Class A3, 3.06%, 04/25/34 | &nbsp;&nbsp; 450 | 392133 |
| Series K739, Class A2, 1.34%, 09/25/27 | &nbsp;&nbsp; 2000 | 1844116 |
| Federal National Mortgage Association |  |  |
| 6.34%, 04/01/44, <br> (12-mo. LIBOR US + 1.590%)<sup>(a)</sup><br>| &nbsp;&nbsp; 23 | 23192 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 7.24%, 12/01/44, <br> (12-mo. LIBOR US + 1.580%)<sup>(a)</sup><br>| &nbsp;&nbsp; $6 | $6659 |
| Federal National Mortgage Association-ACES, <br> Series 2016-M3, Class A2, 2.70%, 02/25/26<br>| &nbsp;&nbsp; 3660 | 3573766 |
| Uniform Mortgage-Backed Securities |  |  |
| 1.50%, 02/01/36 | &nbsp;&nbsp; 1855 | 1621863 |
| 1.50%, 03/01/36 | &nbsp;&nbsp; 2016 | 1755028 |
| 1.50%, 10/01/36 | &nbsp;&nbsp; 2005 | 1745202 |
| 1.50%, 11/01/36 | &nbsp;&nbsp; 1664 | 1451409 |
| 1.50%, 02/01/37 | &nbsp;&nbsp; 11322 | 9826527 |
| 1.50%, 03/01/37 | &nbsp;&nbsp; 8116 | 7037433 |
| 1.50%, 08/01/37 | &nbsp;&nbsp; 1421 | 1233200 |
| 2.00%, 10/01/35 | &nbsp;&nbsp; 8116 | 7318582 |
| 2.00%, 11/01/35 | &nbsp;&nbsp; 2651 | 2399923 |
| 2.00%, 12/01/35 | &nbsp;&nbsp; 5407 | 4851147 |
| 2.00%, 02/01/36 | &nbsp;&nbsp; 16741 | 15068551 |
| 2.00%, 03/01/36 | &nbsp;&nbsp; 5983 | 5366322 |
| 2.00%, 04/01/36 | &nbsp;&nbsp; 2225 | 1991351 |
| 2.00%, 05/01/36 | &nbsp;&nbsp; 10433 | 9376723 |
| 2.00%, 06/01/36 | &nbsp;&nbsp; 851 | 761954 |
| 2.00%, 07/01/36 | &nbsp;&nbsp; 6107 | 5471802 |
| 2.00%, 08/01/36 | &nbsp;&nbsp; 650 | 581801 |
| 2.00%, 10/01/36 | &nbsp;&nbsp; 1410 | 1261213 |
| 2.00%, 11/01/36 | &nbsp;&nbsp; 6594 | 5892873 |
| 2.00%, 12/01/36 | &nbsp;&nbsp; 9035 | 8075696 |
| 2.00%, 01/01/37 | &nbsp;&nbsp; 6521 | 5832422 |
| 2.00%, 02/01/37 | &nbsp;&nbsp; 4052 | 3620804 |
| 2.50%, 07/01/28 | &nbsp;&nbsp; 211 | 204270 |
| 2.50%, 12/01/29 | &nbsp;&nbsp; 47 | 45508 |
| 2.50%, 03/01/30 | &nbsp;&nbsp; 34 | 32371 |
| 2.50%, 07/01/30 | &nbsp;&nbsp; 39 | 37223 |
| 2.50%, 08/01/30 | &nbsp;&nbsp; 124 | 118346 |
| 2.50%, 12/01/30 | &nbsp;&nbsp; 21 | 19781 |
| 2.50%, 01/01/31 | &nbsp;&nbsp; 17 | 16676 |
| 2.50%, 05/01/31 | &nbsp;&nbsp; 367 | 348786 |
| 2.50%, 08/01/31 | &nbsp;&nbsp; 490 | 466554 |
| 2.50%, 09/01/31 | &nbsp;&nbsp; 379 | 359012 |
| 2.50%, 10/01/31 | &nbsp;&nbsp; 1751 | 1670643 |
| 2.50%, 12/01/31 | &nbsp;&nbsp; 595 | 564902 |
| 2.50%, 01/01/32 | &nbsp;&nbsp; 1268 | 1202210 |
| 2.50%, 02/01/32 | &nbsp;&nbsp; 485 | 460193 |
| 2.50%, 03/01/32 | &nbsp;&nbsp; 473 | 447619 |
| 2.50%, 04/01/32 | &nbsp;&nbsp; 3244 | 3079958 |
| 2.50%, 07/01/32 | &nbsp;&nbsp; 3480 | 3310156 |
| 2.50%, 10/01/32 | &nbsp;&nbsp; 70 | 66229 |
| 2.50%, 01/01/33 | &nbsp;&nbsp; 569 | 539605 |
| 2.50%, 07/01/35 | &nbsp;&nbsp; 5321 | 4906364 |
| 2.50%, 10/01/35 | &nbsp;&nbsp; 558 | 511914 |
| 2.50%, 03/01/36 | &nbsp;&nbsp; 1251 | 1149253 |
| 2.50%, 05/01/36 | &nbsp;&nbsp; 8140 | 7446922 |
| 2.50%, 06/01/36 | &nbsp;&nbsp; 203 | 186015 |
| 2.50%, 07/01/36 | &nbsp;&nbsp; 495 | 452467 |
| 2.50%, 08/01/36 | &nbsp;&nbsp; 2521 | 2310940 |
| 2.50%, 04/01/37 | &nbsp;&nbsp; 1557 | 1422313 |
| 2.50%, 05/01/37 | &nbsp;&nbsp; 443 | 404889 |
| 2.50%, 11/18/39<sup>(m)</sup> | &nbsp;&nbsp; 675 | 616099 |
| 3.00%, 10/01/27 | &nbsp;&nbsp; 16 | 15624 |
| 3.00%, 10/01/28 | &nbsp;&nbsp; 74 | 72424 |
| 3.00%, 11/01/28 | &nbsp;&nbsp; 76 | 74304 |
| 3.00%, 03/01/30 | &nbsp;&nbsp; 2257 | 2206478 |
| 3.00%, 04/01/30 | &nbsp;&nbsp; 45 | 43329 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 3.00%, 07/01/30 | &nbsp;&nbsp; $31 | $29974 |
| 3.00%, 08/01/30 | &nbsp;&nbsp; 106 | 102203 |
| 3.00%, 09/01/30 | &nbsp;&nbsp; 156 | 150842 |
| 3.00%, 10/01/30 | &nbsp;&nbsp; 87 | 84141 |
| 3.00%, 11/01/30 | &nbsp;&nbsp; 19 | 17943 |
| 3.00%, 12/01/30 | &nbsp;&nbsp; 75 | 71699 |
| 3.00%, 01/01/31 | &nbsp;&nbsp; 968 | 938156 |
| 3.00%, 02/01/31 | &nbsp;&nbsp; 494 | 477696 |
| 3.00%, 03/01/31 | &nbsp;&nbsp; 106 | 102491 |
| 3.00%, 04/01/31 | &nbsp;&nbsp; 56 | 54316 |
| 3.00%, 06/01/31 | &nbsp;&nbsp; 320 | 308472 |
| 3.00%, 09/01/31 | &nbsp;&nbsp; 104 | 100498 |
| 3.00%, 10/01/31 | &nbsp;&nbsp; 15 | 14254 |
| 3.00%, 01/01/32 | &nbsp;&nbsp; 327 | 314942 |
| 3.00%, 02/01/32 | &nbsp;&nbsp; 695 | 670818 |
| 3.00%, 03/01/32 | &nbsp;&nbsp; 103 | 98657 |
| 3.00%, 06/01/32 | &nbsp;&nbsp; 337 | 325168 |
| 3.00%, 11/01/32 | &nbsp;&nbsp; 348 | 333966 |
| 3.00%, 12/01/32 | &nbsp;&nbsp; 579 | 554056 |
| 3.00%, 10/01/33 | &nbsp;&nbsp; 422 | 401572 |
| 3.00%, 07/01/34 | &nbsp;&nbsp; 189 | 178398 |
| 3.00%, 09/01/34 | &nbsp;&nbsp; 2078 | 1962009 |
| 3.00%, 11/01/34 | &nbsp;&nbsp; 323 | 304516 |
| 3.00%, 07/01/37 | &nbsp;&nbsp; 723 | 678115 |
| 3.00%, 11/18/39<sup>(m)</sup> | &nbsp;&nbsp; 453 | 423148 |
| 3.50%, 01/01/27 | &nbsp;&nbsp; 2 | 2017 |
| 3.50%, 12/01/29 | &nbsp;&nbsp; 7 | 7129 |
| 3.50%, 07/01/30 | &nbsp;&nbsp; 73 | 71892 |
| 3.50%, 10/01/30 | &nbsp;&nbsp; 32 | 31359 |
| 3.50%, 11/01/30 | &nbsp;&nbsp; 5 | 4558 |
| 3.50%, 03/01/31 | &nbsp;&nbsp; 54 | 51669 |
| 3.50%, 06/01/31 | &nbsp;&nbsp; 82 | 80230 |
| 3.50%, 01/01/32 | &nbsp;&nbsp; 51 | 49334 |
| 3.50%, 05/01/32 | &nbsp;&nbsp; 78 | 76151 |
| 3.50%, 06/01/32 | &nbsp;&nbsp; 101 | 97869 |
| 3.50%, 07/01/32 | &nbsp;&nbsp; 27 | 26435 |
| 3.50%, 08/01/32 | &nbsp;&nbsp; 24 | 23529 |
| 3.50%, 09/01/32 | &nbsp;&nbsp; 151 | 146671 |
| 3.50%, 10/01/32 | &nbsp;&nbsp; 26 | 25161 |
| 3.50%, 11/01/32 | &nbsp;&nbsp; 18 | 17176 |
| 3.50%, 03/01/33 | &nbsp;&nbsp; 281 | 273078 |
| 3.50%, 04/01/33 | &nbsp;&nbsp; 333 | 323342 |
| 3.50%, 05/01/33 | &nbsp;&nbsp; 214 | 206979 |
| 3.50%, 06/01/33 | &nbsp;&nbsp; 383 | 369623 |
| 3.50%, 02/01/34 | &nbsp;&nbsp; 2887 | 2791686 |
| 3.50%, 07/01/34 | &nbsp;&nbsp; 293 | 287887 |
| 3.50%, 08/01/34 | &nbsp;&nbsp; 383 | 367852 |
| 3.50%, 01/01/35 | &nbsp;&nbsp; 312 | 299889 |
| 3.50%, 11/18/39<sup>(m)</sup> | &nbsp;&nbsp; 174 | 165715 |
| 4.00%, 07/01/29 | &nbsp;&nbsp; 13 | 12840 |
| 4.00%, 07/01/32 | &nbsp;&nbsp; 51 | 50876 |
| 4.00%, 05/01/33 | &nbsp;&nbsp; 161 | 157985 |
| 4.00%, 06/01/33 | &nbsp;&nbsp; 79 | 76982 |
| 4.00%, 07/01/33 | &nbsp;&nbsp; 47 | 46556 |
| 4.00%, 12/01/33 | &nbsp;&nbsp; 96 | 95855 |
| 4.00%, 08/01/37 | &nbsp;&nbsp; 179 | 172881 |
| 4.00%, 09/01/37 | &nbsp;&nbsp; 244 | 235553 |
| 4.00%, 11/01/37 | &nbsp;&nbsp; 354 | 341925 |
| 4.00%, 02/01/38 | &nbsp;&nbsp; 184 | 178347 |
| 4.00%, 05/01/38 | &nbsp;&nbsp; 161 | 155814 |
| 4.00%, 11/01/38 | &nbsp;&nbsp; 101 | 97409 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| 4.00%, 11/15/39<sup>(m)</sup> | &nbsp;&nbsp; $3204 | $3097540 |
| 4.50%, 11/15/39<sup>(m)</sup> | &nbsp;&nbsp; 112 | 109996 |
| 5.00%, 11/15/39<sup>(m)</sup> | &nbsp;&nbsp; 178 | 177602 |
|  |  | 174243722 |
| **U.S. Government Agency Obligations — 0.3%** | **U.S. Government Agency Obligations — 0.3%** | **U.S. Government Agency Obligations — 0.3%** |
| Federal Home Loan Banks, 3.25%, 06/09/28 | &nbsp;&nbsp; 1000 | 967753 |
| Federal National Mortgage Association, 0.50%, <br> 06/17/25<br>| &nbsp;&nbsp; 13000 | 12688169 |
|  |  | 13655922 |
| **U.S. Government Obligations — 50.4%** | **U.S. Government Obligations — 50.4%** | **U.S. Government Obligations — 50.4%** |
| U.S. Treasury Note/Bond |  |  |
| 0.38%, 11/30/25 | &nbsp;&nbsp; 15000 | 14379492 |
| 0.38%, 12/31/25 | &nbsp;&nbsp; 7200 | 6882188 |
| 0.38%, 01/31/26 | &nbsp;&nbsp; 17550 | 16727344 |
| 0.38%, 09/30/27 | &nbsp;&nbsp; 17100 | 15348586 |
| 0.50%, 02/28/26 | &nbsp;&nbsp; 19000 | 18081914 |
| 0.50%, 04/30/27 | &nbsp;&nbsp; 18000 | 16460156 |
| 0.50%, 05/31/27 | &nbsp;&nbsp; 14000 | 12762969 |
| 0.50%, 06/30/27 | &nbsp;&nbsp; 9570 | 8698981 |
| 0.50%, 08/31/27 | &nbsp;&nbsp; 10600 | 9579750 |
| 0.50%, 10/31/27 | &nbsp;&nbsp; 23100 | 20752102 |
| 0.63%, 07/31/26 | &nbsp;&nbsp; 16850 | 15845582 |
| 0.63%, 11/30/27 | &nbsp;&nbsp; 23800 | 21399547 |
| 0.75%, 03/31/26 | &nbsp;&nbsp; 16000 | 15240625 |
| 0.75%, 04/30/26 | &nbsp;&nbsp; 13720 | 13032928 |
| 0.75%, 05/31/26 | &nbsp;&nbsp; 18280 | 17318872 |
| 0.75%, 08/31/26 | &nbsp;&nbsp; 19500 | 18331524 |
| 0.88%, 06/30/26 | &nbsp;&nbsp; 17800 | 16855766 |
| 0.88%, 09/30/26 | &nbsp;&nbsp; 17670 | 16609800 |
| 1.00%, 07/31/28 | &nbsp;&nbsp; 15000 | 13369922 |
| 1.13%, 10/31/26 | &nbsp;&nbsp; 18800 | 17715328 |
| 1.13%, 02/28/27 | &nbsp;&nbsp; 6400 | 5976000 |
| 1.13%, 02/29/28 | &nbsp;&nbsp; 20000 | 18134375 |
| 1.13%, 08/31/28 | &nbsp;&nbsp; 19000 | 16975312 |
| 1.25%, 11/30/26 | &nbsp;&nbsp; 19180 | 18078649 |
| 1.25%, 12/31/26 | &nbsp;&nbsp; 16750 | 15759395 |
| 1.25%, 03/31/28 | &nbsp;&nbsp; 20000 | 18168750 |
| 1.25%, 05/31/28 | &nbsp;&nbsp; 5600 | 5063625 |
| 1.25%, 06/30/28 | &nbsp;&nbsp; 4500 | 4059141 |
| 1.25%, 09/30/28 | &nbsp;&nbsp; 10000 | 8957813 |
| 1.38%, 08/31/26 | &nbsp;&nbsp; 8860 | 8425998 |
| 1.38%, 10/31/28 | &nbsp;&nbsp; 10000 | 8982031 |
| 1.38%, 12/31/28 | &nbsp;&nbsp; 24000 | 21468750 |
| 1.50%, 08/15/26 | &nbsp;&nbsp; 14000 | 13359609 |
| 1.50%, 01/31/27 | &nbsp;&nbsp; 30700 | 28973125 |
| 1.50%, 11/30/28 | &nbsp;&nbsp; 12000 | 10811250 |
| 1.63%, 02/15/26 | &nbsp;&nbsp; 17000 | 16444844 |
| 1.63%, 05/15/26 | &nbsp;&nbsp; 18000 | 17311641 |
| 1.63%, 10/31/26 | &nbsp;&nbsp; 12500 | 11900879 |
| 1.75%, 12/31/26 | &nbsp;&nbsp; 10000 | 9510938 |
| 1.75%, 01/31/29 | &nbsp;&nbsp; 30000 | 27196875 |
| 1.88%, 02/28/27 | &nbsp;&nbsp; 20000 | 19001563 |
| 1.88%, 02/28/29 | &nbsp;&nbsp; 5000 | 4550000 |
| 2.00%, 11/15/26 | &nbsp;&nbsp; 17600 | 16869875 |
| 2.25%, 11/15/25 | &nbsp;&nbsp; 16400 | 16055344 |
| 2.25%, 03/31/26 | &nbsp;&nbsp; 4000 | 3891875 |
| 2.25%, 02/15/27 | &nbsp;&nbsp; 22300 | 21381867 |
| 2.25%, 08/15/27 | &nbsp;&nbsp; 20350 | 19346809 |
| 2.25%, 11/15/27 | &nbsp;&nbsp; 20900 | 19779891 |
| 2.38%, 05/15/27 | &nbsp;&nbsp; 21450 | 20545078 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations (continued)** | **U.S. Government Obligations (continued)** | **U.S. Government Obligations (continued)** |
| 2.38%, 03/31/29 | &nbsp;&nbsp; $20000 | $18565625 |
| 2.50%, 02/28/26 | &nbsp;&nbsp; 4000 | 3910938 |
| 2.50%, 03/31/27 | &nbsp;&nbsp; 29000 | 27935156 |
| 2.63%, 01/31/26 | &nbsp;&nbsp; 8500 | 8331992 |
| 2.63%, 05/31/27 | &nbsp;&nbsp; 2000 | 1926875 |
| 2.63%, 07/31/29 | &nbsp;&nbsp; 35000 | 32703125 |
| 2.75%, 04/30/27 | &nbsp;&nbsp; 21800 | 21091500 |
| 2.75%, 07/31/27 | &nbsp;&nbsp; 21440 | 20674525 |
| 2.75%, 02/15/28 | &nbsp;&nbsp; 20000 | 19145313 |
| 2.75%, 05/31/29 | &nbsp;&nbsp; 25000 | 23531250 |
| 2.88%, 11/30/25 | &nbsp;&nbsp; 4900 | 4825734 |
| 2.88%, 05/15/28 | &nbsp;&nbsp; 25000 | 23951172 |
| 2.88%, 08/15/28 | &nbsp;&nbsp; 22000 | 21015156 |
| 2.88%, 04/30/29 | &nbsp;&nbsp; 25000 | 23687500 |
| 3.13%, 08/31/27 | &nbsp;&nbsp; 25000 | 24332031 |
| 3.13%, 11/15/28 | &nbsp;&nbsp; 22000 | 21156094 |
| 3.13%, 08/31/29 | &nbsp;&nbsp; 25000 | 23871094 |
| 3.25%, 06/30/27 | &nbsp;&nbsp; 20000 | 19564063 |
| 3.25%, 06/30/29 | &nbsp;&nbsp; 20000 | 19225000 |
| 3.38%, 09/15/27 | &nbsp;&nbsp; 3116 | 3054410 |
| 3.50%, 09/30/26 | &nbsp;&nbsp; 4969 | 4908634 |
| 3.50%, 01/31/28 | &nbsp;&nbsp; 31200 | 30600375 |
| 3.50%, 04/30/28 | &nbsp;&nbsp; 23049 | 22568212 |
| 3.50%, 09/30/29<sup>(c)</sup> | &nbsp;&nbsp; 1605 | 1559232 |
| 3.63%, 05/31/28 | &nbsp;&nbsp; 19800 | 19456594 |
| 3.63%, 08/31/29 | &nbsp;&nbsp; 1091 | 1066623 |
| 3.75%, 04/15/26 | &nbsp;&nbsp; 6108 | 6067916 |
| 3.75%, 08/31/26 | &nbsp;&nbsp; 5130 | 5091325 |
| 3.75%, 08/15/27 | &nbsp;&nbsp; 3099 | 3068494 |
| 3.75%, 12/31/28 | &nbsp;&nbsp; 28284 | 27837643 |
| 3.88%, 01/15/26 | &nbsp;&nbsp; 14000 | 13936562 |
| 3.88%, 10/15/27 | &nbsp;&nbsp; 2069 | 2054937 |
| 3.88%, 11/30/27 | &nbsp;&nbsp; 28180 | 27973053 |
| 3.88%, 12/31/27 | &nbsp;&nbsp; 19760 | 19611800 |
| 3.88%, 09/30/29 | &nbsp;&nbsp; 25000 | 24675781 |
| 4.00%, 12/15/25 | &nbsp;&nbsp; 17300 | 17242559 |
| 4.00%, 02/15/26 | &nbsp;&nbsp; 12000 | 11963438 |
| 4.00%, 01/15/27 | &nbsp;&nbsp; 7556 | 7532978 |
| 4.00%, 02/29/28 | &nbsp;&nbsp; 11066 | 11018451 |
| 4.00%, 06/30/28 | &nbsp;&nbsp; 16000 | 15921250 |
| 4.00%, 01/31/29 | &nbsp;&nbsp; 23882 | 23730872 |
| 4.00%, 07/31/29 | &nbsp;&nbsp; 1160 | 1152478 |
| 4.00%, 10/31/29 | &nbsp;&nbsp; 20000 | 19848438 |
| 4.13%, 10/31/26 | &nbsp;&nbsp; 2501 | 2499339 |
| 4.13%, 02/15/27 | &nbsp;&nbsp; 7829 | 7825330 |
| 4.13%, 09/30/27 | &nbsp;&nbsp; 9000 | 9002109 |
| 4.13%, 10/31/27 | &nbsp;&nbsp; 11000 | 11000859 |
| 4.13%, 07/31/28 | &nbsp;&nbsp; 23759 | 23731158 |
| 4.13%, 03/31/29 | &nbsp;&nbsp; 30000 | 29957812 |
| 4.13%, 10/31/29 | &nbsp;&nbsp; 103 | 102903 |
| 4.25%, 12/31/25 | &nbsp;&nbsp; 19437 | 19424852 |
| 4.25%, 01/31/26 | &nbsp;&nbsp; 13253 | 13250412 |
| 4.25%, 03/15/27 | &nbsp;&nbsp; 8119 | 8141200 |
| 4.25%, 02/28/29 | &nbsp;&nbsp; 27780 | 27879834 |
| 4.25%, 06/30/29 | &nbsp;&nbsp; 40108 | 40252138 |
| 4.38%, 07/31/26 | &nbsp;&nbsp; 6069 | 6087254 |
| 4.38%, 08/15/26 | &nbsp;&nbsp; 33559 | 33669115 |
| 4.38%, 12/15/26 | &nbsp;&nbsp; 27249 | 27372472 |
| 4.38%, 07/15/27 | &nbsp;&nbsp; 3474 | 3495713 |
| 4.38%, 08/31/28 | &nbsp;&nbsp; 22280 | 22445359 |
| 4.38%, 11/30/28 | &nbsp;&nbsp; 24239 | 24428367 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations (continued)** | **U.S. Government Obligations (continued)** | **U.S. Government Obligations (continued)** |
| 4.50%, 11/15/25 | &nbsp;&nbsp; $13200 | $13223719 |
| 4.50%, 03/31/26 | &nbsp;&nbsp; 32559 | 32672193 |
| 4.50%, 04/15/27 | &nbsp;&nbsp; 1933 | 1949310 |
| 4.50%, 05/15/27 | &nbsp;&nbsp; 3502 | 3532369 |
| 4.50%, 05/31/29 | &nbsp;&nbsp; 35220 | 35731791 |
| 4.63%, 02/28/26 | &nbsp;&nbsp; 30000 | 30133594 |
| 4.63%, 03/15/26 | &nbsp;&nbsp; 20000 | 20100781 |
| 4.63%, 06/30/26 | &nbsp;&nbsp; 32616 | 32833865 |
| 4.63%, 09/15/26 | &nbsp;&nbsp; 12804 | 12907032 |
| 4.63%, 10/15/26 | &nbsp;&nbsp; 21715 | 21900765 |
| 4.63%, 11/15/26 | &nbsp;&nbsp; 7007 | 7069406 |
| 4.63%, 06/15/27 | &nbsp;&nbsp; 2300 | 2328391 |
| 4.63%, 09/30/28 | &nbsp;&nbsp; 23823 | 24217568 |
| 4.63%, 04/30/29 | &nbsp;&nbsp; 15000 | 15287109 |
| 4.88%, 11/30/25 | &nbsp;&nbsp; 21262 | 21383260 |
| 4.88%, 04/30/26 | &nbsp;&nbsp; 32679 | 32985366 |
| 4.88%, 05/31/26 | &nbsp;&nbsp; 6513 | 6577367 |
| 4.88%, 10/31/28 | &nbsp;&nbsp; 23719 | 24334212 |
|  |  | 2063495200 |
| **Total U.S. Government & Agency Obligations — 55.0%** <br>**(Cost: $2,293,192,643)** | **Total U.S. Government & Agency Obligations — 55.0%** <br>**(Cost: $2,293,192,643)** | 2251394844 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| HoldCo.<sup>(k)</sup> | &nbsp;&nbsp; 16280 |  |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| Quincy Health LLC<sup>(k)</sup> | &nbsp;&nbsp; 978 |  |
| **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** |
| Foresight Energy LLC<sup>(k)</sup> | &nbsp;&nbsp; 112 |  |
| **Office REITs — 0.0%** | **Office REITs — 0.0%** | **Office REITs — 0.0%** |
| Office Properties Income Trust, NVS | &nbsp;&nbsp; 690 | 1097 |
| **Total Common Stocks — 0.0%** <br>**(Cost $212,146)** | **Total Common Stocks — 0.0%** <br>**(Cost $212,146)** | 1097 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| HoldCo. Preference Shares<sup>(k)</sup> | &nbsp;&nbsp; 104 |  |
| **Total Preferred Stocks — 0.0%** <br>**(Cost $0)** | **Total Preferred Stocks — 0.0%** <br>**(Cost $0)** |  |
| **Total Long-Term Investments — 98.4%** <br>**(Cost: $4,073,963,602)** | **Total Long-Term Investments — 98.4%** <br>**(Cost: $4,073,963,602)** | 4025361070 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.0%** | **Money Market Funds — 2.0%** | **Money Market Funds — 2.0%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(n)(o)</sup><br>| &nbsp;&nbsp; 32457805 | 32480525 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(n)(o)(p)</sup><br>| &nbsp;&nbsp; 49771847 | $49771847 |
| **Total Short-Term Securities — 2.0%** <br>**(Cost: $82,249,833)** | **Total Short-Term Securities — 2.0%** <br>**(Cost: $82,249,833)** | 82252372 |
| **Total Investments — 100.4%** <br>**(Cost: $4,156,213,435)** | **Total Investments — 100.4%** <br>**(Cost: $4,156,213,435)** | 4107613442 |
| **Liabilities in Excess of Other Assets — (0.4)%** | **Liabilities in Excess of Other Assets — (0.4)%** | (16619038)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $4090994404 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(e)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(f)</sup> Perpetual security with no stated maturity date.

<sup>(g)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(h)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(i)</sup> Non-income producing security.

<sup>(j)</sup> Zero-coupon bond.

<sup>(k)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(l)</sup> U.S. dollar denominated security issued by foreign domiciled entity.

<sup>(m)</sup> Represents or includes a TBA transaction.

<sup>(n)</sup> Affiliate of the Fund.

<sup>(o)</sup> Annualized 7-day yield as of period end.

<sup>(p)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $18941271<br> $13531123 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $10433 | $(2302)<br>| $32480525 | 32457805 | $1317740 | &nbsp;&nbsp; $25 |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 37406575<br> 12365272 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 49771847 | 49771847 | 375081 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — |
|  |  |  | $10433 | $(2302)<br>| $82252372 |  | $1692821 | &nbsp;&nbsp; $25 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp; $— | &nbsp;&nbsp; $36208330 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $36208330 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 71564362 | &nbsp;&nbsp; — | &nbsp;&nbsp; 71564362 |
| Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 1412002949 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1412002949 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 251561106 | &nbsp;&nbsp; — | &nbsp;&nbsp; 251561106 |
| Municipal Debt Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 2628382 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2628382 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 2251394844 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2251394844 |
| Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 1097 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1097 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core 1-5 Year USD Bond ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $82252372 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $82252372 |
|  | &nbsp;&nbsp; $82252372 | &nbsp;&nbsp; $4025361070 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4107613442 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Australia — 0.4%** | **Australia — 0.4%** | **Australia — 0.4%** |
| AGI Finance Pty Ltd., 2.12%, 06/24/27 | &nbsp;&nbsp; AUD<br> 200<br>| $121704 |
| Amcor U.K. Finance PLC, 1.13%, 06/23/27 | &nbsp;&nbsp; EUR<br> 200<br>| 207206 |
| APA Infrastructure Ltd. |  |  |
| 0.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 292047 |
| 1.25%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 177826 |
| 2.00%, 03/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105840 |
| 3.50%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 351886 |
| Aurizon Finance Pty Ltd., 3.00%, 03/09/28 | &nbsp;&nbsp; AUD<br> 100<br>| 60937 |
| Aurizon Network Pty Ltd., 6.10%, 09/12/31<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 133278 |
| Ausgrid Finance Pty Ltd., 5.41%, 03/28/31 | &nbsp;&nbsp; AUD<br> 400<br>| 261096 |
| AusNet Services Holdings Pty Ltd. |  |  |
| 0.63%, 08/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 279945 |
| 1.63%, 03/11/81, <br> (5-year EUR Swap + 1.938%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 208535 |
| 2.60%, 07/31/29 | &nbsp;&nbsp; AUD<br> 300<br>| 174106 |
| 6.13%, 05/31/33 | &nbsp;&nbsp; AUD<br> 400<br>| 269050 |
| Australia & New Zealand Banking Group Ltd. |  |  |
| 0.67%, 05/05/31, <br> (5-year EUR Swap + 1.120%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 650<br>| 678097 |
| 0.75%, 09/29/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 731677 |
| 5.00%, 06/18/29 | &nbsp;&nbsp; AUD<br> 1,003<br>| 663969 |
| 5.10%, 02/03/33, <br> (5-year EUR Swap + 2.150%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 226233 |
| 5.91%, 08/12/32, <br> (3-month BB Swap + 2.700%)<sup>(b)</sup><br>| &nbsp;&nbsp; AUD<br> 500<br>| 335034 |
| 6.74%, 02/10/38, <br> (3-month BB Swap + 2.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; AUD<br> 550<br>| 380911 |
| Australia Pacific Airports Melbourne Pty Ltd. |  |  |
| 3.76%, 11/25/31 | &nbsp;&nbsp; AUD<br> 300<br>| 176171 |
| 4.38%, 05/24/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 228519 |
| Bank of Queensland Ltd., 3.30%, 07/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 444666 |
| BHP Billiton Finance Ltd. |  |  |
| Series 12, 4.30%, 09/25/42 | &nbsp;&nbsp; GBP<br> 400<br>| 434882 |
| Series 17, 1.50%, 04/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 345<br>| 341162 |
| Brambles Finance PLC, 1.50%, 10/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208655 |
| Brisbane Airport Corp. Pty Ltd., 4.50%, 12/30/30 | &nbsp;&nbsp; AUD<br> 300<br>| 187609 |
| Charter Hall LWR Pty Ltd., 2.09%, 03/03/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 100<br>| 58938 |
| Coles Group Treasury Pty Ltd., 5.80%, 07/15/31 | &nbsp;&nbsp; AUD<br> 400<br>| 267809 |
| Commonwealth Bank of Australia |  |  |
| 0.13%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 478935 |
| 0.50%, 07/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104882 |
| 0.88%, 02/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 402297 |
| 1.13%, 01/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 103257 |
| 3.00%, 09/04/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 124593 |
| 3.77%, 08/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 335952 |
| 4.27%, 06/04/34, (5-year EURIBOR ICE <br> Swap + 1.350%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 332074 |
| 4.90%, 08/17/28 | &nbsp;&nbsp; AUD<br> 200<br>| 132162 |
| 4.95%, 04/14/32, <br> (3-month BB Swap + 1.900%)<sup>(b)</sup><br>| &nbsp;&nbsp; AUD<br> 600<br>| 392754 |
| 6.70%, 03/15/38, <br> (3-month BB Swap + 2.450%)<sup>(b)</sup><br>| &nbsp;&nbsp; AUD<br> 600<br>| 414992 |
| Computershare U.S. Inc., 1.13%, 10/07/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 91155 |
| Glencore Capital Finance DAC, 1.13%, <br> 03/10/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 550<br>| 557628 |
| Glencore Finance Europe Ltd., 1.75%, <br> 03/17/25<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 360<br>| 389248 |
| Lendlease Finance Ltd., 3.70%, 03/31/31<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 100<br>| 54653 |
| Lonsdale Finance Pty Ltd., 2.45%, 11/20/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 124810 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Macquarie Bank Ltd. |  |  |
| 3.20%, 09/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $326661 |
| 5.95%, 03/01/34, <br> (3-month BB Swap + 1.950%)<sup>(b)</sup><br>| &nbsp;&nbsp; AUD<br> 400<br>| 266112 |
| Macquarie Group Ltd. |  |  |
| 0.63%, 02/03/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 516177 |
| 0.95%, 05/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 280105 |
| 2.13%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 320198 |
| National Australia Bank Ltd. |  |  |
| 0.00%, 01/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 291180 |
| 0.30%, 10/31/25<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 150<br>| 172902 |
| 0.75%, 01/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212487 |
| 1.13%, 05/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 236<br>| 230400 |
| 1.38%, 08/30/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 357969 |
| 1.70%, 09/15/31, (5-year UK Government <br> Bond + 1.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 240191 |
| 2.35%, 08/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 320417 |
| 2.90%, 02/25/27 | &nbsp;&nbsp; AUD<br> 500<br>| 316230 |
| 3.15%, 02/05/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332969 |
| 4.40%, 05/12/28 | &nbsp;&nbsp; AUD<br> 200<br>| 130031 |
| 4.85%, 03/22/29 | &nbsp;&nbsp; AUD<br> 200<br>| 131654 |
| 5.40%, 11/16/28 | &nbsp;&nbsp; AUD<br> 200<br>| 134383 |
| 5.74%, 02/09/34, <br> (3-month BB Swap + 1.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; AUD<br> 400<br>| 265456 |
| 6.32%, 08/03/32, <br> (3-month BB Swap + 2.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; AUD<br> 300<br>| 203060 |
| 6.34%, 06/06/39, <br> (3-month BB Swap + 2.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; AUD<br> 499<br>| 337073 |
| NBN Co. Ltd. |  |  |
| 4.38%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 760937 |
| 5.20%, 08/25/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 600<br>| 398713 |
| Network Finance Co. Pty. Ltd., 6.06%, 06/19/30 | &nbsp;&nbsp; AUD<br> 200<br>| 135361 |
| NSW Electricity Networks Finance Pty Ltd., <br> 2.54%, 09/23/30<sup>(a)</sup><br>| &nbsp;&nbsp; AUD<br> 150<br>| 83505 |
| Optus Finance Pty Ltd., 1.00%, 06/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 390018 |
| Origin Energy Finance Ltd., 1.00%, 09/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 230<br>| 221691 |
| Pacific National Finance Pty. Ltd. |  |  |
| 3.80%, 09/08/31<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 150<br>| 83323 |
| 5.25%, 05/19/25 | &nbsp;&nbsp; AUD<br> 50<br>| 32832 |
| Qantas Airways Ltd., 2.95%, 11/27/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 250<br>| 144483 |
| Scentre Group Trust 1/Scentre Group Trust 2, <br> 1.45%, 03/28/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 100801 |
| Stockland Trust, 6.10%, 09/12/34 | &nbsp;&nbsp; AUD<br> 300<br>| 197962 |
| Sydney Airport Finance Co. Pty. Ltd. |  |  |
| 3.75%, 04/30/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443718 |
| 4.13%, 04/30/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 338150 |
| 4.38%, 05/03/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 114784 |
| 5.90%, 04/19/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 131871 |
| Telstra Corp. Ltd., 1.38%, 03/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 304863 |
| Telstra Group Ltd., 5.65%, 03/06/34 | &nbsp;&nbsp; AUD<br> 400<br>| 266103 |
| Toyota Finance Australia Ltd. |  |  |
| 0.44%, 01/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 502237 |
| 3.39%, 03/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 657408 |
| Transurban Finance Co. Pty. Ltd. |  |  |
| 2.00%, 08/28/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 107900 |
| 3.00%, 04/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 214326 |
| 3.71%, 03/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 439075 |
| 3.97%, 03/12/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219390 |
| 4.23%, 04/26/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 113362 |
| Vicinity Centres Trust, 6.19%, 04/24/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 133782 |
| Wesfarmers Ltd., 1.94%, 06/23/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 118738 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| WestConnex Finance Co. Pty Ltd., 3.15%, <br> 03/31/31<sup>(a)</sup><br>| &nbsp;&nbsp; AUD<br> 150<br>| $85140 |
| Westpac Banking Corp. |  |  |
| 0.38%, 04/02/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 421642 |
| 0.38%, 09/22/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 239194 |
| 0.50%, 01/16/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216399 |
| 0.77%, 05/13/31, <br> (5-year EUR Swap + 1.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 450<br>| 468826 |
| 1.13%, 09/05/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 520<br>| 538988 |
| 1.38%, 05/17/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 292319 |
| 2.40%, 01/25/27 | &nbsp;&nbsp; AUD<br> 200<br>| 125263 |
| 3.90%, 08/11/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 400<br>| 261758 |
| 5.10%, 05/14/29 | &nbsp;&nbsp; AUD<br> 600<br>| 398817 |
| 6.93%, 06/23/38, <br> (3-month BB Swap + 2.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; AUD<br> 300<br>| 211139 |
| 7.20%, 11/15/38, <br> (3-month BB Swap + 2.400%)<sup>(b)</sup><br>| &nbsp;&nbsp; AUD<br> 600<br>| 428237 |
| Woolworths Group Ltd., 2.80%, 05/20/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 300<br>| 172728 |
|  |  | 27948618 |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| BAWAG PSK Bank fuer Arbeit und Wirtschaft <br> und Oesterreichische Postsparkasse AG<br>|  |  |
| 0.00%, 09/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 92421 |
| 0.10%, 05/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 182257 |
| 0.63%, 06/19/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 175007 |
| 1.13%, 07/31/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 307748 |
| 1.75%, 03/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206370 |
| 2.00%, 08/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 610712 |
| 3.13%, 10/03/29, <br> (3-mo. EURIBOR + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 1,700<br>| 1834048 |
| 3.13%, 02/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221841 |
| Erste Group Bank AG |  |  |
| 0.00%, 09/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 190743 |
| 0.25%, 01/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 458763 |
| 0.50%, 01/12/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 162129 |
| 0.63%, 04/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211201 |
| 0.63%, 01/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 312400 |
| 0.75%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1024089 |
| 0.88%, 05/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 421459 |
| 0.88%, 05/13/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 726243 |
| 2.50%, 09/19/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 321476 |
| 3.13%, 12/12/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 333976 |
| HYPO NOE Landesbank fuer Niederoesterreich <br> und Wien AG<br>|  |  |
| 0.00%, 06/18/27 | &nbsp;&nbsp; EUR<br> 500<br>| 507328 |
| 1.63%, 05/11/29 | &nbsp;&nbsp; EUR<br> 300<br>| 310252 |
| 3.00%, 02/05/30 | &nbsp;&nbsp; EUR<br> 300<br>| 329262 |
| Hypo Vorarlberg Bank AG |  |  |
| 0.00%, 10/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 189671 |
| 0.63%, 07/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 315081 |
| Mondi Finance PLC, 1.63%, 04/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 319870 |
| OeBB-Infrastruktur AG |  |  |
| 3.00%, 10/24/33 | &nbsp;&nbsp; EUR<br> 325<br>| 360884 |
| 3.38%, 05/18/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 795232 |
| Oesterreichische Kontrollbank AG |  |  |
| 3.13%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1112046 |
| 4.13%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 637679 |
| OMV AG |  |  |
| 1.88%, 12/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 456<br>| 475545 |
| 2.00%, 04/09/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 583<br>| 618273 |
| 2.88%, (5-year EUR Swap + 3.082%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 103200 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Austria (continued)** | **Austria (continued)** | **Austria (continued)** |
| Raiffeisen Bank International AG |  |  |
| 0.05%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| $497696 |
| 0.38%, 09/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 310454 |
| 1.50%, 05/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 210381 |
| 2.88%, 09/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 326314 |
| 4.50%, 05/31/30, <br> (3-mo. EURIBOR + 1.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 223636 |
| 5.75%, 01/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 464703 |
| Raiffeisen Landesbank Vorarlberg mit <br> Revisionsverband eGen, 0.38%, 11/13/34<br>| &nbsp;&nbsp; EUR<br> 200<br>| 169021 |
| Raiffeisenlandesbank <br> Niederoesterreich-Wien AG<br>|  |  |
| 0.63%, 08/28/26 | &nbsp;&nbsp; EUR<br> 100<br>| 104772 |
| 2.38%, 08/31/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 313742 |
| 3.25%, 01/11/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 554287 |
| Raiffeisenlandesbank Oberoesterreich AG, <br> 0.50%, 01/22/35<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 170205 |
| Raiffeisen-Landesbank Steiermark AG, 1.38%, <br> 05/11/33<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 95878 |
| Telekom Finanzmanagement GmbH, 1.50%, <br> 12/07/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 318023 |
| UniCredit Bank Austria AG |  |  |
| 0.25%, 06/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 94540 |
| 0.63%, 03/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 198496 |
| 0.75%, 02/25/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323878 |
| 1.50%, 05/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 313203 |
| 2.38%, 09/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215831 |
| UNIQA Insurance Group AG, 6.00%, 07/27/46, <br> (3-mo. EURIBOR + 5.817%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 224111 |
| Verbund AG, 1.50%, 11/20/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217369 |
| Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>|  |  |
| 1.00%, 03/26/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 167344 |
| 4.88%, 06/15/42, <br> (3-mo. EURIBOR + 3.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 112932 |
| Volksbank Wien AG |  |  |
| 0.13%, 11/19/29 | &nbsp;&nbsp; EUR<br> 200<br>| 190356 |
| 0.88%, 03/23/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314492 |
|  |  | 19998870 |
| **Belgium — 0.3%** | **Belgium — 0.3%** | **Belgium — 0.3%** |
| Ageas SA/NV, 1.88%, 11/24/51, <br> (3-mo. EURIBOR + 3.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 188057 |
| Aliaxis Finance SA, 0.88%, 11/08/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 195224 |
| Anheuser-Busch InBev Finance Inc., <br> Series MPLE, 4.32%, 05/15/47<br>| &nbsp;&nbsp; CAD<br> 100<br>| 67497 |
| Anheuser-Busch InBev SA |  |  |
| 1.15%, 01/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 893577 |
| 1.50%, 04/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 568<br>| 575173 |
| 2.00%, 03/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 584320 |
| 2.13%, 12/02/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 160264 |
| 2.25%, 05/24/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 233692 |
| 2.70%, 03/31/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 348139 |
| 2.75%, 03/17/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 670<br>| 679857 |
| 2.88%, 04/02/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 479476 |
| 3.45%, 09/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 125<br>| 138353 |
| 3.70%, 04/02/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 489734 |
| 3.75%, 03/22/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 275<br>| 303914 |
| 3.95%, 03/22/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 275<br>| 301422 |
| Argenta Spaarbank NV |  |  |
| 0.75%, 03/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 398619 |
| 1.00%, 01/29/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 622950 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Belgium (continued)** | **Belgium (continued)** | **Belgium (continued)** |
| 3.13%, 02/06/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $221036 |
| Barry Callebaut Services NV, 4.00%, 06/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221498 |
| Belfius Bank SA |  |  |
| 0.00%, 08/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 620044 |
| 0.13%, 09/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207828 |
| 0.38%, 02/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 526816 |
| 1.00%, 06/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 307130 |
| 2.88%, 02/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218552 |
| 3.75%, 01/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 663062 |
| 4.13%, 09/12/29 | &nbsp;&nbsp; EUR<br> 800<br>| 906809 |
| BNP Paribas Fortis SA, 0.63%, 10/04/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106638 |
| bpost SA |  |  |
| 3.29%, 10/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 650992 |
| 3.63%, 10/16/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 325786 |
| Crelan SA |  |  |
| 5.25%, 01/23/32, (1-year EURIBOR ICE <br> Swap + 2.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 232633 |
| 6.00%, 02/28/30, (1-year EURIBOR ICE <br> Swap + 2.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 237160 |
| Elia Group SA/NV |  |  |
| 1.50%, 09/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 205598 |
| 3.88%, 06/11/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 109054 |
| Elia Transmission Belgium SA |  |  |
| 0.88%, 04/28/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 287859 |
| 3.00%, 04/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216238 |
| 3.75%, 01/16/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 438665 |
| Euroclear Holding NV, 1.50%, 04/11/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 201106 |
| FLUVIUS System Operator CV, 3.88%, <br> 05/02/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 443825 |
| FLUVIUS System Operator CVBA |  |  |
| 1.75%, 12/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 424713 |
| 2.88%, 05/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 649545 |
| Groupe Bruxelles Lambert NV, 1.88%, <br> 06/19/25<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 324302 |
| ING Belgium SA |  |  |
| 0.00%, 02/20/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 472126 |
| 0.75%, 09/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 420332 |
| 3.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 441746 |
| KBC Bank NV |  |  |
| 0.00%, 12/03/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211542 |
| 3.13%, 02/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 329962 |
| KBC Group NV |  |  |
| 0.13%, 01/14/29, <br> (3-mo. EURIBOR + 0.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 198035 |
| 0.38%, 06/16/27, <br> (3-mo. EURIBOR + 0.720%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 626791 |
| 0.63%, 12/07/31, <br> (5-year EUR Swap + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 410707 |
| 0.75%, 01/21/28, <br> (3-mo. EURIBOR + 0.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 517554 |
| 0.75%, 01/24/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 384808 |
| 3.75%, 03/27/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 553635 |
| 4.38%, 12/06/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 460768 |
| Lonza Finance International NV, 3.88%, <br> 04/24/36<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 332481 |
| Ministeries Van de Vlaamse Gemeenschap, <br> 0.38%, 10/13/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 103901 |
| Proximus SADP |  |  |
| 4.00%, 03/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 674770 |
| 4.13%, 11/17/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 799574 |
| Silfin NV, 5.13%, 07/17/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 225453 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Belgium (continued)** | **Belgium (continued)** | **Belgium (continued)** |
| Solvay SA, 3.88%, 04/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $221304 |
| Syensqo SA, 2.75%, 12/02/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216529 |
| VGP NV |  |  |
| 1.50%, 04/08/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 195556 |
| 2.25%, 01/17/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 389780 |
|  |  | 23594511 |
| **Bermuda — 0.0%** | **Bermuda — 0.0%** | **Bermuda — 0.0%** |
| Athora Holding Ltd., 5.88%, 09/10/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 328764 |
| **Canada — 1.3%** | **Canada — 1.3%** | **Canada — 1.3%** |
| 407 International Inc. |  |  |
| 2.43%, 05/04/27 | &nbsp;&nbsp; CAD<br> 200<br>| 140672 |
| 2.84%, 03/07/50 | &nbsp;&nbsp; CAD<br> 400<br>| 211363 |
| 3.65%, 09/08/44<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 62758 |
| 3.67%, 03/08/49 | &nbsp;&nbsp; CAD<br> 200<br>| 123712 |
| 3.83%, 05/11/46 | &nbsp;&nbsp; CAD<br> 200<br>| 128230 |
| 3.98%, 09/11/52 | &nbsp;&nbsp; CAD<br> 25<br>| 16159 |
| 4.86%, 07/31/53 | &nbsp;&nbsp; CAD<br> 300<br>| 223286 |
| 4.89%, 04/04/54 | &nbsp;&nbsp; CAD<br> 200<br>| 149557 |
| Aeroports de Montreal |  |  |
| 3.03%, 04/21/50 | &nbsp;&nbsp; CAD<br> 150<br>| 83371 |
| 3.44%, 04/26/51 | &nbsp;&nbsp; CAD<br> 150<br>| 89279 |
| Series I, 5.47%, 04/16/40 | &nbsp;&nbsp; CAD<br> 150<br>| 118069 |
| Aimco Realty Investors LP, Series 4, 2.71%, <br> 06/01/29<br>| &nbsp;&nbsp; CAD<br> 200<br>| 136721 |
| AIMCo Realty Investors LP |  |  |
| 4.64%, 02/15/30 | &nbsp;&nbsp; CAD<br> 300<br>| 221938 |
| 4.97%, 05/23/34 | &nbsp;&nbsp; CAD<br> 200<br>| 149684 |
| Alberta Powerline LP, 4.07%, 12/01/53 | &nbsp;&nbsp; CAD<br> 196<br>| 125761 |
| Alectra Inc. |  |  |
| 1.75%, 02/11/31 | &nbsp;&nbsp; CAD<br> 200<br>| 126745 |
| 4.63%, 06/13/34 | &nbsp;&nbsp; CAD<br> 150<br>| 111084 |
| 5.23%, 11/14/52 | &nbsp;&nbsp; CAD<br> 50<br>| 39263 |
| Series A, 2.49%, 05/17/27 | &nbsp;&nbsp; CAD<br> 150<br>| 104859 |
| Algonquin Power Co., 4.60%, 01/29/29 | &nbsp;&nbsp; CAD<br> 100<br>| 74098 |
| Alimentation Couche-Tard Inc. |  |  |
| 4.01%, 02/12/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 540041 |
| 5.59%, 09/25/30 | &nbsp;&nbsp; CAD<br> 400<br>| 305531 |
| AltaGas Ltd. |  |  |
| 2.16%, 06/10/25 | &nbsp;&nbsp; CAD<br> 200<br>| 142146 |
| 2.17%, 03/16/27 | &nbsp;&nbsp; CAD<br> 400<br>| 276610 |
| 3.98%, 10/04/27 | &nbsp;&nbsp; CAD<br> 150<br>| 107900 |
| 5.14%, 03/14/34 | &nbsp;&nbsp; CAD<br> 200<br>| 147766 |
| 5.60%, 03/14/54 | &nbsp;&nbsp; CAD<br> 200<br>| 146654 |
| AltaLink LP |  |  |
| 3.72%, 12/03/46 | &nbsp;&nbsp; CAD<br> 50<br>| 31564 |
| 3.99%, 06/30/42 | &nbsp;&nbsp; CAD<br> 200<br>| 132457 |
| 4.09%, 06/30/45<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 66943 |
| 4.92%, 09/17/43 | &nbsp;&nbsp; CAD<br> 200<br>| 149031 |
| 5.46%, 10/11/55 | &nbsp;&nbsp; CAD<br> 200<br>| 163761 |
| Bank of Montreal |  |  |
| 0.05%, 06/08/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 384983 |
| 0.13%, 01/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 411659 |
| 1.55%, 05/28/26 | &nbsp;&nbsp; CAD<br> 150<br>| 104518 |
| 1.76%, 03/10/26 | &nbsp;&nbsp; CAD<br> 300<br>| 210491 |
| 1.93%, 07/22/31<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 209009 |
| 2.70%, 12/09/26 | &nbsp;&nbsp; CAD<br> 50<br>| 35454 |
| 2.75%, 10/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 327792 |
| 3.19%, 03/01/28 | &nbsp;&nbsp; CAD<br> 500<br>| 354819 |
| 3.65%, 04/01/27 | &nbsp;&nbsp; CAD<br> 500<br>| 358380 |
| 4.42%, 07/17/29 | &nbsp;&nbsp; CAD<br> 600<br>| 440042 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.54%, 12/18/28 | &nbsp;&nbsp; CAD<br> 200<br>| $147352 |
| 4.71%, 12/07/27 | &nbsp;&nbsp; CAD<br> 600<br>| 442109 |
| 5.04%, 05/29/28 | &nbsp;&nbsp; CAD<br> 1,000<br>| 746962 |
| 5.13%, 10/10/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 711780 |
| 6.53%, 10/27/32<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 153399 |
| Bank of Nova Scotia (The) |  |  |
| 0.00%, 01/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 462387 |
| 0.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300942 |
| 0.00%, 09/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 285945 |
| 0.25%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 145801 |
| 0.45%, 03/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 739253 |
| 1.40%, 11/01/27 | &nbsp;&nbsp; CAD<br> 800<br>| 540407 |
| 1.85%, 11/02/26 | &nbsp;&nbsp; CAD<br> 800<br>| 554825 |
| 1.95%, 01/10/25 | &nbsp;&nbsp; CAD<br> 300<br>| 214689 |
| 2.16%, 02/03/25 | &nbsp;&nbsp; CAD<br> 200<br>| 143013 |
| 2.88%, 05/03/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 366643 |
| 2.95%, 03/08/27 | &nbsp;&nbsp; CAD<br> 300<br>| 211723 |
| 3.10%, 02/02/28 | &nbsp;&nbsp; CAD<br> 400<br>| 283329 |
| 3.25%, 01/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 552788 |
| 3.93%, 05/03/32<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 286958 |
| 4.44%, 11/15/35<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 1,000<br>| 720106 |
| 4.95%, 08/01/34<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 220875 |
| 5.68%, 08/02/33<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 700<br>| 527986 |
| BCI QuadReal Realty |  |  |
| 1.07%, 02/04/26 | &nbsp;&nbsp; CAD<br> 100<br>| 69651 |
| 1.75%, 07/24/30 | &nbsp;&nbsp; CAD<br> 200<br>| 127602 |
| bcIMC Realty Corp., 3.00%, 03/31/27 | &nbsp;&nbsp; CAD<br> 100<br>| 70805 |
| Bell Telephone Co. of Canada or Bell Canada |  |  |
| 1.65%, 08/16/27 | &nbsp;&nbsp; CAD<br> 200<br>| 136935 |
| 2.50%, 05/14/30 | &nbsp;&nbsp; CAD<br> 200<br>| 132392 |
| 2.75%, 01/29/25 | &nbsp;&nbsp; CAD<br> 300<br>| 214845 |
| 2.90%, 09/10/29 | &nbsp;&nbsp; CAD<br> 200<br>| 136862 |
| 3.00%, 03/17/31 | &nbsp;&nbsp; CAD<br> 100<br>| 67121 |
| 3.35%, 03/12/25 | &nbsp;&nbsp; CAD<br> 50<br>| 35840 |
| 3.50%, 09/30/50 | &nbsp;&nbsp; CAD<br> 300<br>| 162737 |
| 3.55%, 03/02/26 | &nbsp;&nbsp; CAD<br> 150<br>| 107468 |
| 3.60%, 09/29/27 | &nbsp;&nbsp; CAD<br> 200<br>| 142945 |
| 3.80%, 08/21/28 | &nbsp;&nbsp; CAD<br> 250<br>| 178824 |
| 4.05%, 03/17/51 | &nbsp;&nbsp; CAD<br> 400<br>| 238238 |
| 4.35%, 12/18/45<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 127660 |
| 4.45%, 02/27/47<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 128997 |
| 5.15%, 11/14/28<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 299187 |
| 5.15%, 08/24/34 | &nbsp;&nbsp; CAD<br> 200<br>| 149263 |
| 5.15%, 02/09/53 | &nbsp;&nbsp; CAD<br> 200<br>| 141498 |
| 5.85%, 11/10/32 | &nbsp;&nbsp; CAD<br> 200<br>| 156373 |
| British Columbia Ferry Services Inc., Series <br> 19-1, 2.79%, 10/15/49<br>| &nbsp;&nbsp; CAD<br> 100<br>| 52906 |
| Brookfield Corp., 4.82%, 01/28/26 | &nbsp;&nbsp; CAD<br> 200<br>| 145099 |
| Brookfield Finance II Inc., 5.43%, 12/14/32<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 150861 |
| Brookfield Infrastructure Finance ULC |  |  |
| 3.41%, 10/09/29 | &nbsp;&nbsp; CAD<br> 200<br>| 139135 |
| 4.19%, 09/11/28 | &nbsp;&nbsp; CAD<br> 100<br>| 72275 |
| 5.44%, 04/25/34 | &nbsp;&nbsp; CAD<br> 400<br>| 300974 |
| Brookfield Renewable Partners ULC |  |  |
| 3.33%, 08/13/50 | &nbsp;&nbsp; CAD<br> 200<br>| 105911 |
| 3.75%, 06/02/25 | &nbsp;&nbsp; CAD<br> 200<br>| 143519 |
| 4.25%, 01/15/29 | &nbsp;&nbsp; CAD<br> 200<br>| 145197 |
| 5.32%, 01/10/54 | &nbsp;&nbsp; CAD<br> 200<br>| 146742 |
| Bruce Power LP |  |  |
| 3.97%, 06/23/26 | &nbsp;&nbsp; CAD<br> 200<br>| 144093 |
| 4.01%, 06/21/29 | &nbsp;&nbsp; CAD<br> 100<br>| 72052 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.13%, 06/21/33 | &nbsp;&nbsp; CAD<br> 100<br>| $70076 |
| 4.70%, 12/21/27 | &nbsp;&nbsp; CAD<br> 200<br>| 147314 |
| 4.70%, 06/21/31 | &nbsp;&nbsp; CAD<br> 200<br>| 147038 |
| 4.75%, 06/21/49<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 70249 |
| Calgary Airport Authority (The) |  |  |
| 3.55%, 10/07/53 | &nbsp;&nbsp; CAD<br> 200<br>| 120070 |
| Series A, 3.20%, Series A, 10/07/36 | &nbsp;&nbsp; CAD<br> 500<br>| 314642 |
| Canadian Imperial Bank of Commerce |  |  |
| 0.00%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 481832 |
| 0.04%, 07/09/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 202605 |
| 0.38%, 03/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 422297 |
| 1.96%, 04/21/31<sup>(a)(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 139984 |
| 2.00%, 04/17/25 | &nbsp;&nbsp; CAD<br> 200<br>| 142457 |
| 2.25%, 01/07/27 | &nbsp;&nbsp; CAD<br> 300<br>| 209113 |
| 3.30%, 05/26/25 | &nbsp;&nbsp; CAD<br> 200<br>| 143443 |
| 4.20%, 04/07/32<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 216365 |
| 4.90%, 06/12/34<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 220324 |
| 4.95%, 06/29/27 | &nbsp;&nbsp; CAD<br> 400<br>| 295794 |
| 5.05%, 10/07/27 | &nbsp;&nbsp; CAD<br> 1,000<br>| 742456 |
| 5.30%, 01/16/34<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 149155 |
| 5.33%, 01/20/33<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 371999 |
| Canadian National Railway Co. |  |  |
| 3.05%, 02/08/50 | &nbsp;&nbsp; CAD<br> 200<br>| 109351 |
| 3.20%, 07/31/28 | &nbsp;&nbsp; CAD<br> 500<br>| 354053 |
| 4.60%, 05/02/29 | &nbsp;&nbsp; CAD<br> 200<br>| 148636 |
| 4.70%, 05/10/53 | &nbsp;&nbsp; CAD<br> 400<br>| 288435 |
| 5.10%, 05/02/54 | &nbsp;&nbsp; CAD<br> 100<br>| 76531 |
| Canadian Natural Resources Ltd. |  |  |
| 2.50%, 01/17/28 | &nbsp;&nbsp; CAD<br> 200<br>| 137800 |
| 3.42%, 12/01/26 | &nbsp;&nbsp; CAD<br> 100<br>| 71457 |
| Canadian Pacific Railway Co. |  |  |
| 2.54%, 02/28/28 | &nbsp;&nbsp; CAD<br> 400<br>| 277487 |
| 3.05%, 03/09/50 | &nbsp;&nbsp; CAD<br> 100<br>| 54636 |
| 3.15%, 03/13/29<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 70232 |
| Canadian Tire Corp. Ltd., 5.37%, 09/16/30 | &nbsp;&nbsp; CAD<br> 300<br>| 225878 |
| Canadian Western Bank |  |  |
| 4.57%, 07/11/28 | &nbsp;&nbsp; CAD<br> 200<br>| 147497 |
| 5.94%, 12/22/32<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 150807 |
| Capital Power Corp. |  |  |
| 4.42%, 02/08/30 | &nbsp;&nbsp; CAD<br> 100<br>| 71669 |
| 5.97%, 01/25/34 | &nbsp;&nbsp; CAD<br> 400<br>| 305155 |
| Cenovus Energy Inc., 3.60%, 03/10/27 | &nbsp;&nbsp; CAD<br> 200<br>| 143035 |
| Central 1 Credit Union, 1.32%, 01/29/26 | &nbsp;&nbsp; CAD<br> 200<br>| 139300 |
| Choice Properties Real Estate Investment Trust |  |  |
| 3.53%, 06/11/29 | &nbsp;&nbsp; CAD<br> 400<br>| 280568 |
| 5.70%, 02/28/34 | &nbsp;&nbsp; CAD<br> 100<br>| 76515 |
| 6.00%, 06/24/32 | &nbsp;&nbsp; CAD<br> 200<br>| 156123 |
| Series J, 3.55%, 01/10/25 | &nbsp;&nbsp; CAD<br> 300<br>| 215244 |
| Coastal Gaslink Pipeline LP |  |  |
| Series E, 5.40%, Series E, 09/30/36 | &nbsp;&nbsp; CAD<br> 1,000<br>| 768402 |
| Series J, 5.86%, Series J, 03/30/49 | &nbsp;&nbsp; CAD<br> 500<br>| 405270 |
| CPPIB Capital Inc., 1.50%, 03/04/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 730904 |
| Crombie Real Estate Investment Trust, 4.73%, <br> 01/15/32<br>| &nbsp;&nbsp; CAD<br> 400<br>| 288011 |
| CU Inc. |  |  |
| 2.96%, 09/07/49 | &nbsp;&nbsp; CAD<br> 200<br>| 108508 |
| 3.17%, 09/05/51 | &nbsp;&nbsp; CAD<br> 200<br>| 111396 |
| 3.55%, 11/22/47 | &nbsp;&nbsp; CAD<br> 200<br>| 121624 |
| 3.96%, 07/27/45 | &nbsp;&nbsp; CAD<br> 25<br>| 16334 |
| 4.09%, 09/02/44 | &nbsp;&nbsp; CAD<br> 300<br>| 199847 |
| 4.54%, 10/24/41 | &nbsp;&nbsp; CAD<br> 200<br>| 141800 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.66%, 09/11/54 | &nbsp;&nbsp; CAD<br> 200<br>| $143819 |
| 4.72%, 09/09/43 | &nbsp;&nbsp; CAD<br> 100<br>| 72458 |
| 5.09%, 09/20/53 | &nbsp;&nbsp; CAD<br> 300<br>| 230391 |
| 5.18%, 11/21/35 | &nbsp;&nbsp; CAD<br> 100<br>| 75968 |
| Dollarama Inc., 5.17%, 04/26/30 | &nbsp;&nbsp; CAD<br> 200<br>| 151281 |
| Dream Industrial Real Estate Investment Trust, <br> Series E, 3.97%, Series E, 04/13/26<br>| &nbsp;&nbsp; CAD<br> 400<br>| 287700 |
| Enbridge Gas Inc. |  |  |
| 2.90%, 04/01/30 | &nbsp;&nbsp; CAD<br> 400<br>| 273887 |
| 3.20%, 09/15/51 | &nbsp;&nbsp; CAD<br> 500<br>| 275328 |
| 3.51%, 11/29/47 | &nbsp;&nbsp; CAD<br> 200<br>| 118958 |
| 4.00%, 08/22/44<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 50<br>| 32555 |
| 4.20%, 06/02/44 | &nbsp;&nbsp; CAD<br> 200<br>| 133902 |
| 4.88%, 06/21/41 | &nbsp;&nbsp; CAD<br> 150<br>| 109594 |
| 5.67%, 10/06/53 | &nbsp;&nbsp; CAD<br> 400<br>| 328954 |
| Enbridge Inc. |  |  |
| 2.99%, 10/03/29 | &nbsp;&nbsp; CAD<br> 400<br>| 274951 |
| 3.95%, 11/19/24 | &nbsp;&nbsp; CAD<br> 400<br>| 287245 |
| 4.10%, 09/21/51 | &nbsp;&nbsp; CAD<br> 300<br>| 180290 |
| 4.21%, 02/22/30 | &nbsp;&nbsp; CAD<br> 200<br>| 144738 |
| 4.24%, 08/27/42 | &nbsp;&nbsp; CAD<br> 100<br>| 63879 |
| 4.73%, 08/22/34 | &nbsp;&nbsp; CAD<br> 100<br>| 72563 |
| 5.32%, 08/22/54 | &nbsp;&nbsp; CAD<br> 200<br>| 145501 |
| 5.76%, 05/26/53 | &nbsp;&nbsp; CAD<br> 200<br>| 154711 |
| 6.51%, 11/09/52 | &nbsp;&nbsp; CAD<br> 200<br>| 170261 |
| Enbridge Pipelines Inc. |  |  |
| 3.45%, 09/29/25 | &nbsp;&nbsp; CAD<br> 150<br>| 107410 |
| 3.52%, 02/22/29 | &nbsp;&nbsp; CAD<br> 200<br>| 141714 |
| 4.20%, 05/12/51 | &nbsp;&nbsp; CAD<br> 100<br>| 61503 |
| 4.33%, 02/22/49 | &nbsp;&nbsp; CAD<br> 300<br>| 189394 |
| 4.55%, 09/29/45 | &nbsp;&nbsp; CAD<br> 200<br>| 131988 |
| 5.33%, 04/06/40 | &nbsp;&nbsp; CAD<br> 50<br>| 36463 |
| Energir LP |  |  |
| 3.04%, 02/09/32 | &nbsp;&nbsp; CAD<br> 200<br>| 133568 |
| 4.67%, 09/27/32 | &nbsp;&nbsp; CAD<br> 100<br>| 74010 |
| 4.83%, 06/02/53 | &nbsp;&nbsp; CAD<br> 200<br>| 148054 |
| EPCOR Utilities Inc. |  |  |
| 3.11%, 07/08/49 | &nbsp;&nbsp; CAD<br> 100<br>| 55571 |
| 3.29%, 06/28/51 | &nbsp;&nbsp; CAD<br> 200<br>| 113955 |
| 3.55%, 11/27/47 | &nbsp;&nbsp; CAD<br> 100<br>| 60770 |
| 5.33%, 10/03/53 | &nbsp;&nbsp; CAD<br> 400<br>| 318231 |
| Fairfax Financial Holdings Ltd. |  |  |
| 2.75%, 03/29/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 426177 |
| 3.95%, 03/03/31 | &nbsp;&nbsp; CAD<br> 100<br>| 70475 |
| 4.23%, 06/14/29 | &nbsp;&nbsp; CAD<br> 100<br>| 72316 |
| 4.25%, 12/06/27 | &nbsp;&nbsp; CAD<br> 200<br>| 145055 |
| Federation des Caisses Desjardins du Quebec |  |  |
| 0.00%, 04/08/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104863 |
| 0.05%, 11/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200858 |
| 0.25%, 02/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 309095 |
| 1.59%, 09/10/26 | &nbsp;&nbsp; CAD<br> 200<br>| 138885 |
| 1.99%, 05/28/31<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 150<br>| 104870 |
| 3.13%, 05/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 553484 |
| 3.80%, 09/24/29 | &nbsp;&nbsp; CAD<br> 300<br>| 213836 |
| 4.41%, 05/19/27 | &nbsp;&nbsp; CAD<br> 200<br>| 145934 |
| 5.04%, 08/23/32<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 73692 |
| 5.47%, 11/17/28 | &nbsp;&nbsp; CAD<br> 600<br>| 456020 |
| 5.48%, 08/16/28 | &nbsp;&nbsp; CAD<br> 200<br>| 151949 |
| Finning International Inc. |  |  |
| 2.63%, 08/14/26 | &nbsp;&nbsp; CAD<br> 200<br>| 141083 |
| 4.78%, 02/13/29 | &nbsp;&nbsp; CAD<br> 100<br>| 74052 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| First Capital Real Estate Investment Trust, <br> 5.46%, 06/12/32<br>| &nbsp;&nbsp; CAD<br> 100<br>| $74590 |
| First Capital REIT, Series V, 3.46%, 01/22/27 | &nbsp;&nbsp; CAD<br> 100<br>| 71043 |
| FortisAlberta Inc. |  |  |
| 2.63%, 06/08/51 | &nbsp;&nbsp; CAD<br> 200<br>| 99550 |
| 3.73%, 09/18/48 | &nbsp;&nbsp; CAD<br> 100<br>| 62225 |
| 4.86%, 05/26/53 | &nbsp;&nbsp; CAD<br> 200<br>| 148454 |
| 4.90%, 05/27/54 | &nbsp;&nbsp; CAD<br> 400<br>| 298170 |
| FortisBC Energy Inc. |  |  |
| 2.82%, 08/09/49 | &nbsp;&nbsp; CAD<br> 100<br>| 52642 |
| 3.67%, 04/09/46 | &nbsp;&nbsp; CAD<br> 200<br>| 124621 |
| Gibson Energy Inc., 5.75%, 07/12/33 | &nbsp;&nbsp; CAD<br> 300<br>| 231819 |
| Granite REIT Holdings LP |  |  |
| 2.19%, 08/30/28 | &nbsp;&nbsp; CAD<br> 200<br>| 134275 |
| 3.06%, 06/04/27 | &nbsp;&nbsp; CAD<br> 200<br>| 140754 |
| Greater Toronto Airports Authority |  |  |
| 2.73%, 04/03/29 | &nbsp;&nbsp; CAD<br> 600<br>| 416291 |
| 2.75%, 10/17/39 | &nbsp;&nbsp; CAD<br> 200<br>| 117088 |
| 3.26%, 06/01/37 | &nbsp;&nbsp; CAD<br> 350<br>| 222592 |
| Great-West Lifeco Inc. |  |  |
| 2.98%, 07/08/50 | &nbsp;&nbsp; CAD<br> 200<br>| 107052 |
| 3.34%, 02/28/28 | &nbsp;&nbsp; CAD<br> 200<br>| 142255 |
| H&R Real Estate Investment Trust |  |  |
| 2.91%, 06/02/26 | &nbsp;&nbsp; CAD<br> 200<br>| 141127 |
| 4.07%, 06/16/25 | &nbsp;&nbsp; CAD<br> 100<br>| 71823 |
| Honda Canada Finance Inc. |  |  |
| 1.65%, 02/25/28 | &nbsp;&nbsp; CAD<br> 200<br>| 134701 |
| 4.90%, 06/04/29 | &nbsp;&nbsp; CAD<br> 300<br>| 223962 |
| Hydro One Inc. |  |  |
| 2.77%, 02/24/26 | &nbsp;&nbsp; CAD<br> 150<br>| 106765 |
| 2.97%, 06/26/25 | &nbsp;&nbsp; CAD<br> 150<br>| 107276 |
| 3.64%, 04/05/50 | &nbsp;&nbsp; CAD<br> 300<br>| 184177 |
| 3.72%, 11/18/47 | &nbsp;&nbsp; CAD<br> 350<br>| 219779 |
| 3.91%, 02/23/46 | &nbsp;&nbsp; CAD<br> 200<br>| 129947 |
| 4.16%, 01/27/33 | &nbsp;&nbsp; CAD<br> 200<br>| 144985 |
| 4.25%, 01/04/35 | &nbsp;&nbsp; CAD<br> 200<br>| 143740 |
| 4.39%, 03/01/34 | &nbsp;&nbsp; CAD<br> 200<br>| 146141 |
| 4.59%, 10/09/43 | &nbsp;&nbsp; CAD<br> 200<br>| 142963 |
| 4.85%, 11/30/54 | &nbsp;&nbsp; CAD<br> 400<br>| 297834 |
| 4.91%, 01/27/28 | &nbsp;&nbsp; CAD<br> 100<br>| 74701 |
| 6.03%, 03/03/39 | &nbsp;&nbsp; CAD<br> 300<br>| 248244 |
| 6.93%, 06/01/32 | &nbsp;&nbsp; CAD<br> 130<br>| 109412 |
| Hydro One Ltd., 1.41%, 10/15/27 | &nbsp;&nbsp; CAD<br> 600<br>| 409425 |
| Hyundai Capital Canada Inc. |  |  |
| 5.57%, 03/08/28 | &nbsp;&nbsp; CAD<br> 200<br>| 150587 |
| Series G, 4.58%, Series G, 07/24/29 | &nbsp;&nbsp; CAD<br> 500<br>| 366079 |
| IGM Financial Inc. |  |  |
| 4.12%, 12/09/47 | &nbsp;&nbsp; CAD<br> 200<br>| 128842 |
| 5.43%, 05/26/53 | &nbsp;&nbsp; CAD<br> 200<br>| 155915 |
| Intact Financial Corp. |  |  |
| 2.18%, 05/18/28 | &nbsp;&nbsp; CAD<br> 100<br>| 68423 |
| 2.85%, 06/07/27<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 141047 |
| 2.95%, 12/16/50 | &nbsp;&nbsp; CAD<br> 100<br>| 53246 |
| 3.77%, 05/20/53 | &nbsp;&nbsp; CAD<br> 100<br>| 61412 |
| 5.28%, 09/14/54 | &nbsp;&nbsp; CAD<br> 200<br>| 156924 |
| Inter Pipeline Ltd./AB |  |  |
| 3.17%, 03/24/25 | &nbsp;&nbsp; CAD<br> 200<br>| 143288 |
| 3.48%, 12/16/26 | &nbsp;&nbsp; CAD<br> 100<br>| 71209 |
| 5.09%, 11/27/51 | &nbsp;&nbsp; CAD<br> 150<br>| 97852 |
| 5.71%, 05/29/30 | &nbsp;&nbsp; CAD<br> 600<br>| 451867 |
| 5.85%, 05/18/32 | &nbsp;&nbsp; CAD<br> 200<br>| 150264 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Series 12, 3.98%, Series 12, 11/25/31 | &nbsp;&nbsp; CAD<br> 200<br>| $135319 |
| Keyera Corp. |  |  |
| 3.93%, 06/21/28 | &nbsp;&nbsp; CAD<br> 200<br>| 143458 |
| 5.66%, 01/04/54 | &nbsp;&nbsp; CAD<br> 200<br>| 150192 |
| Liberty Utilities Canada LP, 3.32%, 02/14/50 | &nbsp;&nbsp; CAD<br> 100<br>| 53984 |
| Loblaw Companies Ltd. |  |  |
| 2.28%, 05/07/30 | &nbsp;&nbsp; CAD<br> 200<br>| 132723 |
| 4.49%, 12/11/28 | &nbsp;&nbsp; CAD<br> 150<br>| 110578 |
| 5.12%, 03/04/54 | &nbsp;&nbsp; CAD<br> 200<br>| 146881 |
| 5.34%, 09/13/52 | &nbsp;&nbsp; CAD<br> 100<br>| 75625 |
| Lower Mattagami Energy LP |  |  |
| 2.43%, 05/14/31 | &nbsp;&nbsp; CAD<br> 300<br>| 197133 |
| 4.69%, 06/07/54 | &nbsp;&nbsp; CAD<br> 400<br>| 292361 |
| Manulife Bank of Canada |  |  |
| 1.54%, 09/14/26 | &nbsp;&nbsp; CAD<br> 300<br>| 207682 |
| 2.86%, 02/16/27 | &nbsp;&nbsp; CAD<br> 200<br>| 141393 |
| 3.99%, 02/22/28 | &nbsp;&nbsp; CAD<br> 200<br>| 144724 |
| Manulife Financial Corp. |  |  |
| 2.82%, 05/13/35<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 134326 |
| 5.05%, 02/23/34<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 297437 |
| 5.41%, 03/10/33<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 600<br>| 449528 |
| Metro Inc./CN |  |  |
| 3.39%, 12/06/27 | &nbsp;&nbsp; CAD<br> 150<br>| 106718 |
| 3.41%, 02/28/50 | &nbsp;&nbsp; CAD<br> 200<br>| 112405 |
| 4.27%, 12/04/47 | &nbsp;&nbsp; CAD<br> 100<br>| 65388 |
| National Bank of Canada |  |  |
| 0.00%, 09/29/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 725088 |
| 1.53%, 06/15/26 | &nbsp;&nbsp; CAD<br> 150<br>| 104463 |
| 1.57%, 08/18/26<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 141180 |
| 3.75%, 05/02/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 444774 |
| 5.02%, 02/01/29 | &nbsp;&nbsp; CAD<br> 400<br>| 299834 |
| 5.22%, 06/14/28 | &nbsp;&nbsp; CAD<br> 600<br>| 450865 |
| 5.43%, 08/16/32<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 297523 |
| NAV Canada |  |  |
| 2.06%, 05/29/30 | &nbsp;&nbsp; CAD<br> 200<br>| 131595 |
| 2.92%, 09/29/51 | &nbsp;&nbsp; CAD<br> 300<br>| 164415 |
| 3.21%, 09/29/50 | &nbsp;&nbsp; CAD<br> 100<br>| 58276 |
| North West Redwater Partnership/NWR <br> Financing Co. Ltd.<br>|  |  |
| 2.80%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 265520 |
| 3.75%, 06/01/51<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 242593 |
| 4.05%, 07/22/44<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 150<br>| 97364 |
| 5.08%, 06/01/54 | &nbsp;&nbsp; CAD<br> 100<br>| 74883 |
| Series G, 4.75%, 06/01/37<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 50<br>| 36560 |
| Series J, 2.80%, 06/01/27 | &nbsp;&nbsp; CAD<br> 200<br>| 140643 |
| Series K, 3.65%, 06/01/35 | &nbsp;&nbsp; CAD<br> 200<br>| 133455 |
| Nouvelle Autoroute 30 Financement Inc., <br> Series C, 3.75%, 03/31/33<br>| &nbsp;&nbsp; CAD<br> 132<br>| 90774 |
| Nova Scotia Power Inc. |  |  |
| 3.31%, 04/25/50 | &nbsp;&nbsp; CAD<br> 150<br>| 80826 |
| 4.50%, 07/20/43<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 66935 |
| 4.95%, 11/15/32 | &nbsp;&nbsp; CAD<br> 150<br>| 110557 |
| 5.36%, 03/24/53 | &nbsp;&nbsp; CAD<br> 200<br>| 149178 |
| OMERS Realty Corp. |  |  |
| 3.63%, 06/05/30 | &nbsp;&nbsp; CAD<br> 400<br>| 281441 |
| 4.54%, 04/09/29 | &nbsp;&nbsp; CAD<br> 100<br>| 73634 |
| Ontario Power Generation Inc. |  |  |
| 2.98%, 09/13/29 | &nbsp;&nbsp; CAD<br> 300<br>| 207618 |
| 3.22%, 04/08/30 | &nbsp;&nbsp; CAD<br> 300<br>| 208049 |
| 3.65%, 09/13/50 | &nbsp;&nbsp; CAD<br> 100<br>| 59884 |
| 4.25%, 01/18/49 | &nbsp;&nbsp; CAD<br> 100<br>| 66416 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.83%, 06/28/34 | &nbsp;&nbsp; CAD<br> 400<br>| $296877 |
| 4.99%, 06/28/54 | &nbsp;&nbsp; CAD<br> 400<br>| 296760 |
| Pembina Pipeline Corp. |  |  |
| 3.31%, 02/01/30 | &nbsp;&nbsp; CAD<br> 200<br>| 138246 |
| 3.53%, 12/10/31 | &nbsp;&nbsp; CAD<br> 600<br>| 408337 |
| 3.62%, 04/03/29<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 250<br>| 177035 |
| 4.02%, 03/27/28<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 144340 |
| 4.49%, 12/10/51 | &nbsp;&nbsp; CAD<br> 100<br>| 63097 |
| 4.54%, 04/03/49<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 128260 |
| 4.67%, 05/28/50 | &nbsp;&nbsp; CAD<br> 200<br>| 130492 |
| 4.75%, 04/30/43 | &nbsp;&nbsp; CAD<br> 100<br>| 66952 |
| 4.81%, 03/25/44<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 25<br>| 16832 |
| 5.67%, 01/12/54 | &nbsp;&nbsp; CAD<br> 200<br>| 150684 |
| Series 11, 4.75%, 03/26/48 | &nbsp;&nbsp; CAD<br> 150<br>| 99444 |
| Power Corp. of Canada, 4.46%, 07/27/48 | &nbsp;&nbsp; CAD<br> 100<br>| 68626 |
| Primaris Real Estate Investment Trust |  |  |
| 4.73%, 03/30/27 | &nbsp;&nbsp; CAD<br> 200<br>| 145885 |
| 5.30%, 03/15/32 | &nbsp;&nbsp; CAD<br> 100<br>| 73499 |
| Reliance LP |  |  |
| 2.67%, 08/01/28 | &nbsp;&nbsp; CAD<br> 100<br>| 67709 |
| 3.75%, 03/15/26 | &nbsp;&nbsp; CAD<br> 200<br>| 143377 |
| 5.25%, 05/15/31 | &nbsp;&nbsp; CAD<br> 100<br>| 74258 |
| RioCan Real Estate Investment Trust |  |  |
| 2.58%, 02/12/25 | &nbsp;&nbsp; CAD<br> 400<br>| 286155 |
| 4.63%, 05/01/29 | &nbsp;&nbsp; CAD<br> 200<br>| 144917 |
| 5.46%, 03/01/31 | &nbsp;&nbsp; CAD<br> 100<br>| 74414 |
| Rogers Communications Inc. |  |  |
| 2.90%, 12/09/30 | &nbsp;&nbsp; CAD<br> 200<br>| 133393 |
| 3.25%, 05/01/29 | &nbsp;&nbsp; CAD<br> 300<br>| 208107 |
| 3.75%, 04/15/29 | &nbsp;&nbsp; CAD<br> 200<br>| 141664 |
| 4.25%, 04/15/32 | &nbsp;&nbsp; CAD<br> 200<br>| 141433 |
| 4.25%, 12/09/49 | &nbsp;&nbsp; CAD<br> 100<br>| 61815 |
| 4.40%, 11/02/28 | &nbsp;&nbsp; CAD<br> 350<br>| 254640 |
| 5.25%, 04/15/52 | &nbsp;&nbsp; CAD<br> 200<br>| 143494 |
| 5.70%, 09/21/28 | &nbsp;&nbsp; CAD<br> 200<br>| 152004 |
| 5.80%, 09/21/30 | &nbsp;&nbsp; CAD<br> 500<br>| 386754 |
| 5.90%, 09/21/33 | &nbsp;&nbsp; CAD<br> 600<br>| 468846 |
| 6.11%, 08/25/40 | &nbsp;&nbsp; CAD<br> 25<br>| 19526 |
| 6.56%, 03/22/41 | &nbsp;&nbsp; CAD<br> 200<br>| 163629 |
| Royal Bank of Canada |  |  |
| 0.00%, 01/21/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 513524 |
| 0.00%, 10/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 293966 |
| 0.05%, 06/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208823 |
| 0.13%, 03/25/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215209 |
| 0.13%, 04/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 511504 |
| 0.63%, 09/10/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213682 |
| 1.00%, 09/09/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 660729 |
| 1.13%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 494346 |
| 1.67%, 01/28/33<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 134156 |
| 1.75%, 06/08/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208556 |
| 1.83%, 07/31/28 | &nbsp;&nbsp; CAD<br> 200<br>| 135143 |
| 1.94%, 05/01/25 | &nbsp;&nbsp; CAD<br> 150<br>| 106803 |
| 2.13%, 04/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208707 |
| 2.14%, 11/03/31<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 208505 |
| 2.33%, 01/28/27 | &nbsp;&nbsp; CAD<br> 200<br>| 139581 |
| 2.38%, 09/13/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 392<br>| 423324 |
| 2.61%, 11/01/24 | &nbsp;&nbsp; CAD<br> 600<br>| 430926 |
| 2.94%, 05/03/32<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 210501 |
| 3.37%, 09/29/25 | &nbsp;&nbsp; CAD<br> 500<br>| 357979 |
| 4.13%, 07/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 338617 |
| 4.38%, 10/02/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 230687 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.61%, 07/26/27 | &nbsp;&nbsp; CAD<br> 500<br>| $367460 |
| 4.63%, 05/01/28 | &nbsp;&nbsp; CAD<br> 300<br>| 221575 |
| 4.64%, 01/17/28 | &nbsp;&nbsp; CAD<br> 300<br>| 221228 |
| 5.01%, 02/01/33<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 295337 |
| 5.10%, 04/03/34<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 296948 |
| 5.23%, 06/24/30 | &nbsp;&nbsp; CAD<br> 200<br>| 152551 |
| 5.34%, 06/23/26 | &nbsp;&nbsp; CAD<br> 500<br>| 368454 |
| Royal Bank of Canada/Toronto |  |  |
| 0.00%, 09/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 415416 |
| 3.40%, 03/24/25 | &nbsp;&nbsp; CAD<br> 500<br>| 358825 |
| 3.63%, 03/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 224204 |
| Sagen MI Canada Inc., 3.26%, 03/05/31 | &nbsp;&nbsp; CAD<br> 200<br>| 128964 |
| Saputo Inc. |  |  |
| 1.42%, 06/19/26 | &nbsp;&nbsp; CAD<br> 200<br>| 138653 |
| 2.24%, 06/16/27 | &nbsp;&nbsp; CAD<br> 200<br>| 138273 |
| 2.30%, 06/22/28 | &nbsp;&nbsp; CAD<br> 200<br>| 136246 |
| 5.49%, 11/20/30 | &nbsp;&nbsp; CAD<br> 200<br>| 152772 |
| Sienna Senior Living Inc., Series A, 3.11%, <br> 11/04/24<br>| &nbsp;&nbsp; CAD<br> 200<br>| 143642 |
| SmartCentres Real Estate Investment Trust |  |  |
| 3.53%, 12/20/29 | &nbsp;&nbsp; CAD<br> 200<br>| 137229 |
| 5.16%, 08/01/30 | &nbsp;&nbsp; CAD<br> 400<br>| 294210 |
| South Bow Canadian Infrastructure Holdings <br> Ltd., 4.93%, 02/01/35<br>| &nbsp;&nbsp; CAD<br> 200<br>| 144058 |
| Stantec Inc., 2.05%, 10/08/27 | &nbsp;&nbsp; CAD<br> 200<br>| 136631 |
| Sun Life Financial Inc. |  |  |
| 2.80%, 11/21/33<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 206147 |
| 3.15%, 11/18/36<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 200357 |
| 5.12%, 05/15/36<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 149775 |
| 5.40%, 05/29/42<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 76059 |
| Sun Life Financial, Inc., 5.50%, 07/04/35<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 152882 |
| Suncor Energy Inc. |  |  |
| 3.95%, 03/04/51 | &nbsp;&nbsp; CAD<br> 100<br>| 60752 |
| 5.00%, 04/09/30 | &nbsp;&nbsp; CAD<br> 188<br>| 139138 |
| TELUS Corp. |  |  |
| 3.15%, 02/19/30 | &nbsp;&nbsp; CAD<br> 100<br>| 68586 |
| 3.30%, 05/02/29 | &nbsp;&nbsp; CAD<br> 300<br>| 209335 |
| 3.75%, 01/17/25 | &nbsp;&nbsp; CAD<br> 200<br>| 143553 |
| 3.75%, 03/10/26 | &nbsp;&nbsp; CAD<br> 150<br>| 107732 |
| 3.95%, 02/16/50 | &nbsp;&nbsp; CAD<br> 300<br>| 174375 |
| 4.10%, 04/05/51 | &nbsp;&nbsp; CAD<br> 200<br>| 118934 |
| 4.65%, 08/13/31 | &nbsp;&nbsp; CAD<br> 200<br>| 145437 |
| 4.75%, 01/17/45 | &nbsp;&nbsp; CAD<br> 100<br>| 66602 |
| 4.85%, 04/05/44 | &nbsp;&nbsp; CAD<br> 100<br>| 67968 |
| 4.95%, 03/28/33 | &nbsp;&nbsp; CAD<br> 200<br>| 147149 |
| 5.10%, 02/15/34 | &nbsp;&nbsp; CAD<br> 400<br>| 296600 |
| 5.15%, 11/26/43 | &nbsp;&nbsp; CAD<br> 100<br>| 70619 |
| 5.25%, 11/15/32 | &nbsp;&nbsp; CAD<br> 200<br>| 150246 |
| 5.75%, 09/08/33 | &nbsp;&nbsp; CAD<br> 300<br>| 232350 |
| 5.95%, 09/08/53 | &nbsp;&nbsp; CAD<br> 500<br>| 392241 |
| Teranet Holdings LP |  |  |
| 3.72%, 02/23/29 | &nbsp;&nbsp; CAD<br> 100<br>| 69309 |
| 6.10%, 06/17/41 | &nbsp;&nbsp; CAD<br> 100<br>| 73774 |
| TMX Group Ltd., 4.97%, 02/16/34 | &nbsp;&nbsp; CAD<br> 400<br>| 300590 |
| Toronto Hydro Corp. |  |  |
| 2.43%, 12/11/29 | &nbsp;&nbsp; CAD<br> 200<br>| 135492 |
| 2.47%, 10/20/31 | &nbsp;&nbsp; CAD<br> 300<br>| 196931 |
| 2.52%, 08/25/26 | &nbsp;&nbsp; CAD<br> 200<br>| 141238 |
| 3.55%, 07/28/45 | &nbsp;&nbsp; CAD<br> 200<br>| 123756 |
| 4.95%, 10/13/52 | &nbsp;&nbsp; CAD<br> 200<br>| 152044 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Toronto-Dominion Bank (The) |  |  |
| 1.13%, 12/09/25 | &nbsp;&nbsp; CAD<br> 600<br>| $419842 |
| 1.89%, 03/08/28 | &nbsp;&nbsp; CAD<br> 800<br>| 543745 |
| 1.90%, 09/11/28 | &nbsp;&nbsp; CAD<br> 400<br>| 270402 |
| 1.94%, 03/13/25 | &nbsp;&nbsp; CAD<br> 50<br>| 35677 |
| 1.95%, 04/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 516<br>| 522689 |
| 2.26%, 01/07/27 | &nbsp;&nbsp; CAD<br> 500<br>| 348510 |
| 2.50%, 12/02/24 | &nbsp;&nbsp; CAD<br> 300<br>| 215190 |
| 2.67%, 09/09/25 | &nbsp;&nbsp; CAD<br> 400<br>| 284655 |
| 2.86%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1091677 |
| 3.06%, 01/26/32<sup>(a)(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 140993 |
| 3.19%, 02/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 775295 |
| 3.25%, 04/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 439113 |
| 3.25%, 02/16/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 335555 |
| 3.56%, 04/16/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 984461 |
| 3.63%, 12/13/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220687 |
| 3.67%, 09/08/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 228675 |
| 3.72%, 03/13/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227635 |
| 3.88%, 03/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 774179 |
| 4.21%, 06/01/27 | &nbsp;&nbsp; CAD<br> 400<br>| 290437 |
| 4.34%, 01/27/26 | &nbsp;&nbsp; CAD<br> 200<br>| 144622 |
| 4.48%, 01/18/28 | &nbsp;&nbsp; CAD<br> 300<br>| 220135 |
| 4.86%, 03/04/31<sup>(a)(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 145483 |
| 5.18%, 04/09/34<sup>(a)(b)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 297550 |
| 5.38%, 10/21/27 | &nbsp;&nbsp; CAD<br> 300<br>| 225068 |
| 5.49%, 09/08/28 | &nbsp;&nbsp; CAD<br> 800<br>| 608092 |
| Series 28, 0.10%, 07/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 609601 |
| Toyota Credit Canada Inc. |  |  |
| 1.18%, 02/23/26<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 139321 |
| 3.73%, 10/02/29 | &nbsp;&nbsp; CAD<br> 600<br>| 427500 |
| 4.33%, 01/24/28<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 146155 |
| 4.44%, 06/27/29 | &nbsp;&nbsp; CAD<br> 200<br>| 147026 |
| TransCanada PipeLines Ltd. |  |  |
| 2.97%, 06/09/31 | &nbsp;&nbsp; CAD<br> 300<br>| 200877 |
| 3.00%, 09/18/29<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 276626 |
| 3.30%, 07/17/25<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 214759 |
| 3.39%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 150<br>| 106440 |
| 3.80%, 04/05/27 | &nbsp;&nbsp; CAD<br> 400<br>| 287269 |
| 4.18%, 07/03/48<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 125144 |
| 4.33%, 09/16/47 | &nbsp;&nbsp; CAD<br> 300<br>| 192535 |
| 4.34%, 10/15/49<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 127795 |
| 4.35%, 06/06/46 | &nbsp;&nbsp; CAD<br> 250<br>| 161549 |
| 4.55%, 11/15/41 | &nbsp;&nbsp; CAD<br> 100<br>| 67204 |
| 5.28%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 227678 |
| 5.33%, 05/12/32 | &nbsp;&nbsp; CAD<br> 200<br>| 152240 |
| Vancouver Airport Authority |  |  |
| 1.76%, 09/20/30 | &nbsp;&nbsp; CAD<br> 200<br>| 128237 |
| 2.80%, 09/21/50 | &nbsp;&nbsp; CAD<br> 150<br>| 79858 |
| Veren Inc. |  |  |
| 4.97%, 06/21/29 | &nbsp;&nbsp; CAD<br> 200<br>| 147410 |
| 5.50%, 06/21/34 | &nbsp;&nbsp; CAD<br> 150<br>| 110829 |
| Videotron Ltd. |  |  |
| 3.13%, 01/15/31 | &nbsp;&nbsp; CAD<br> 200<br>| 133603 |
| 5.00%, 07/15/34 | &nbsp;&nbsp; CAD<br> 200<br>| 145889 |
| Westcoast Energy Inc. |  |  |
| 3.77%, 12/08/25 | &nbsp;&nbsp; CAD<br> 100<br>| 71838 |
| 4.79%, 10/28/41 | &nbsp;&nbsp; CAD<br> 200<br>| 139437 |
| WSP Global Inc. |  |  |
| 2.41%, 04/19/28 | &nbsp;&nbsp; CAD<br> 200<br>| 136853 |
| 4.75%, 09/12/34 | &nbsp;&nbsp; CAD<br> 200<br>| 144042 |
|  |  | 91748440 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **China — 0.0%** | **China — 0.0%** | **China — 0.0%** |
| Bank of China Ltd./Luxembourg, 4.00%, <br> 10/19/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| $330717 |
| China Construction Bank Corp. Luxembourg <br> Branch, 3.88%, 11/30/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220649 |
| Industrial & Commercial Bank of China Ltd., <br> 4.13%, 10/25/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 221852 |
| Prosus NV |  |  |
| 1.21%, 01/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105827 |
| 1.54%, 08/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 605231 |
| 1.99%, 07/13/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 457600 |
|  |  | 1941876 |
| **Czech Republic — 0.1%** | **Czech Republic — 0.1%** | **Czech Republic — 0.1%** |
| Ceska sporitelna A/S |  |  |
| 0.50%, 09/13/28, <br> (3-mo. EURIBOR + 0.780%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 494372 |
| 4.57%, 07/03/31, <br> (3-mo. EURIBOR + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 111981 |
| CEZ AS |  |  |
| 0.88%, 12/02/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 880219 |
| 3.00%, 06/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 525<br>| 563471 |
| 4.88%, 04/16/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 201<br>| 220086 |
| EP Infrastructure AS, 2.05%, 10/09/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200441 |
| EPH Financing International AS, 5.88%, <br> 11/30/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 228117 |
| Raiffeisenbank AS, 4.96%, 06/05/30, <br> (3-mo. EURIBOR + 1.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 335808 |
|  |  | 3034495 |
| **Denmark — 0.3%** | **Denmark — 0.3%** | **Denmark — 0.3%** |
| AP Moller - Maersk A/S |  |  |
| 1.75%, 03/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 534992 |
| 4.13%, 03/05/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 340292 |
| Carlsberg Breweries A/S |  |  |
| 0.38%, 06/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 203411 |
| 0.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 304<br>| 299271 |
| Danfoss Finance II BV, 0.75%, 04/28/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 274142 |
| Danmarks Skibskredit AS, 0.13%, 03/20/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 322586 |
| Danske Bank A/S |  |  |
| 0.75%, 11/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 205739 |
| 1.38%, 02/17/27, <br> (1-year EUR Swap + 0.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 392<br>| 416784 |
| 3.13%, 06/06/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 223033 |
| 3.88%, 01/09/32, <br> (1-year EUR Swap + 1.420%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220892 |
| 4.00%, 01/12/27, <br> (1-year EUR Swap + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220089 |
| 4.13%, 01/10/31, <br> (1-year EUR Swap + 1.250%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 583<br>| 660298 |
| DSV Finance BV |  |  |
| 0.75%, 07/05/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 175501 |
| 0.88%, 09/17/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 81688 |
| DSV Finance BV Co., 1.38%, 03/16/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 297325 |
| ISS Global A/S |  |  |
| 1.50%, 08/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 363667 |
| 2.13%, 12/02/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 434627 |
| Jyske Bank A/S |  |  |
| 4.13%, 09/06/30, <br> (1-year EUR Swap + 1.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 222183 |
| 5.50%, 11/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 625390 |
| Jyske Realkredit A/S |  |  |
| 0.38%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 322860 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| 0.50%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $313873 |
| 3.25%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 447941 |
| Nordea Kredit Realkreditaktieselskab |  |  |
| 1.00%, 04/01/26 | &nbsp;&nbsp; DKK<br> 4,000<br>| 572806 |
| 1.00%, 10/01/26 | &nbsp;&nbsp; DKK<br> 10,500<br>| 1494154 |
| 1.00%, 04/01/27 | &nbsp;&nbsp; DKK<br> 1,600<br>| 226107 |
| Novo Nordisk Finance Netherlands BV |  |  |
| 3.13%, 01/21/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1100436 |
| 3.38%, 05/21/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 385463 |
| Nykredit Realkredit A/S |  |  |
| 0.38%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 298167 |
| 0.63%, 01/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216382 |
| 0.75%, 01/20/27 | &nbsp;&nbsp; EUR<br> 400<br>| 414740 |
| 1.00%, 01/01/28<sup>(a)</sup> | &nbsp;&nbsp; DKK<br> 3,000<br>| 419380 |
| 1.00%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; DKK<br> 4,000<br>| 545829 |
| 1.38%, 07/12/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 313602 |
| 2.00%, 01/01/26<sup>(a)</sup> | &nbsp;&nbsp; DKK<br> 2,000<br>| 290302 |
| 4.63%, 01/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 342067 |
| Series 13H, 1.00%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; DKK<br> 15,000<br>| 2141323 |
| Series 13H, 1.00%, 01/01/27 | &nbsp;&nbsp; DKK<br> 10,000<br>| 1417997 |
| Orsted A/S |  |  |
| 1.50%, 11/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 780<br>| 781497 |
| 2.13%, 05/17/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 599303 |
| 2.88%, 06/14/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 724054 |
| 5.13%, 09/13/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 600<br>| 747624 |
| 5.13%, (5-year EURIBOR ICE Swap + <br> 2.590%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 350<br>| 393606 |
| 5.75%, 04/09/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 381578 |
| TDC Net AS, 6.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 240016 |
| Vestas Wind Systems Finance BV, 2.00%, <br> 06/15/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 281089 |
|  |  | 21534106 |
| **Estonia — 0.0%** | **Estonia — 0.0%** | **Estonia — 0.0%** |
| Luminor Bank AS, 0.00%, 03/11/25 | &nbsp;&nbsp; EUR<br> 100<br>| 107599 |
| **Finland — 0.3%** | **Finland — 0.3%** | **Finland — 0.3%** |
| Aktia Bank OYJ |  |  |
| 3.00%, 10/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221056 |
| 3.38%, 05/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221830 |
| Danske Kiinnitysluottopankki OYJ |  |  |
| 0.00%, 11/24/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206764 |
| 0.00%, 01/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 199956 |
| 2.13%, 09/16/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216390 |
| 3.13%, 01/12/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 330502 |
| Fortum OYJ |  |  |
| 1.63%, 02/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 642418 |
| 4.50%, 05/26/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 515795 |
| Kojamo OYJ, 2.00%, 03/31/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213013 |
| Kuntarahoitus OYJ |  |  |
| 0.00%, 03/02/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 830564 |
| 0.05%, 09/10/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 201293 |
| 0.63%, 11/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314557 |
| 0.75%, 09/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 155654 |
| 1.25%, 02/23/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 193465 |
| 3.00%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 663491 |
| Neste OYJ |  |  |
| 3.88%, 03/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222102 |
| 3.88%, 05/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 385562 |
| Nokia OYJ, 3.13%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 540373 |
| Nordea Bank Abp |  |  |
| 0.38%, 05/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 540<br>| 566642 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Finland (continued)** | **Finland (continued)** | **Finland (continued)** |
| 0.50%, 05/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| $771389 |
| 0.50%, 11/02/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 736908 |
| 1.13%, 09/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207933 |
| 1.63%, 12/09/32, (5-year UK Government <br> Bond +1.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 230864 |
| 2.88%, 08/24/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 210983 |
| 3.63%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 329843 |
| Nordea Kiinnitysluottopankki OYJ |  |  |
| 0.13%, 06/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 357238 |
| 0.63%, 03/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 728089 |
| 1.00%, 03/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 812154 |
| 1.38%, 02/28/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 97554 |
| 3.00%, 02/20/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 442324 |
| 3.00%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 553487 |
| 3.00%, 04/12/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 774131 |
| Series FI43, 1.00%, 11/05/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 163162 |
| OP Corporate Bank PLC |  |  |
| 0.63%, 07/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 510149 |
| 4.00%, 06/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 450744 |
| OP Mortgage Bank |  |  |
| 0.00%, 11/19/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 463019 |
| 0.63%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 490<br>| 523816 |
| 0.63%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 698794 |
| 2.50%, 10/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1078580 |
| 3.00%, 07/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220825 |
| Sampo OYJ |  |  |
| 2.25%, 09/27/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 363670 |
| 2.50%, 09/03/52, <br> (3-mo. EURIBOR + 3.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 194143 |
| 3.38%, 05/23/49, <br> (3-mo. EURIBOR + 4.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 110<br>| 116488 |
| SATO OYJ, 1.38%, 02/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 99876 |
| SP-Kiinnitysluottopankki OYJ, 3.13%, 11/01/27 | &nbsp;&nbsp; EUR<br> 300<br>| 330545 |
| Stora Enso OYJ, 2.50%, 03/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211612 |
| Teollisuuden Voima OYJ, 2.63%, 03/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 594<br>| 637345 |
| Tornator OYJ, 3.75%, 10/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216945 |
| UPM-Kymmene OYJ, 2.25%, 05/23/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314103 |
|  |  | 19688140 |
| **France — 2.9%** | **France — 2.9%** | **France — 2.9%** |
| Aeroports de Paris SA |  |  |
| 2.13%, 10/11/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 185759 |
| 2.75%, 06/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 757129 |
| 2.75%, 04/02/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 953438 |
| Air Liquide Finance SA |  |  |
| 0.63%, 06/20/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 667262 |
| 2.88%, 09/16/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213436 |
| Airbus SE |  |  |
| 0.88%, 05/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 210816 |
| 1.38%, 05/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 196723 |
| 1.63%, 06/09/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 201932 |
| 2.00%, 04/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 318017 |
| 2.38%, 04/07/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 380<br>| 393422 |
| 2.38%, 06/09/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 279205 |
| Alstom SA, 0.00%, 01/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 475501 |
| Altarea SCA, 1.88%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 100414 |
| APRR SA |  |  |
| 1.25%, 01/06/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 525031 |
| 1.25%, 01/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105141 |
| 1.63%, 01/13/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 293729 |
| 1.88%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 542444 |
| 1.88%, 01/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207667 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 3.13%, 01/06/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $211395 |
| Arkea Home Loans SFH SA |  |  |
| 0.00%, 10/04/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 184665 |
| 0.75%, 10/05/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 205876 |
| 3.00%, 03/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 329015 |
| 3.25%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222996 |
| Arkea Public Sector SCF SA |  |  |
| 0.13%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 379513 |
| 3.25%, 01/10/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1112283 |
| Arkema SA |  |  |
| 0.75%, 12/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 289942 |
| 1.50%, 04/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 526870 |
| 1.50%, (5-year EUR Swap + 1.571%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 315898 |
| Arval Service Lease SA/France |  |  |
| 4.13%, 04/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 660074 |
| 4.75%, 05/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 338439 |
| Autoroutes du Sud de la France SA |  |  |
| 1.13%, 04/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 530857 |
| 1.38%, 06/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 309149 |
| 1.38%, 02/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 585402 |
| 2.75%, 09/02/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 625054 |
| 2.75%, 09/02/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208351 |
| AXA Home Loan SFH SA, 0.00%, 10/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 285362 |
| AXA SA |  |  |
| 1.38%, 10/07/41, <br> (3-mo. EURIBOR + 2.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 185991 |
| 3.25%, 05/28/49, <br> (3-mo. EURIBOR + 3.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 550<br>| 588140 |
| 3.38%, 05/31/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218289 |
| 3.75%, 10/12/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 563055 |
| 4.25%, 03/10/43, <br> (3-mo. EURIBOR + 3.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 328478 |
| 5.50%, 07/11/43, <br> (3-mo. EURIBOR + 3.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 355383 |
| Ayvens SA |  |  |
| 1.25%, 03/02/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 424636 |
| 3.88%, 01/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443256 |
| 4.00%, 01/24/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221694 |
| 4.88%, 10/06/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 228670 |
| Banque Federative du Credit Mutuel SA |  |  |
| 0.00%, 05/11/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 625119 |
| 0.10%, 10/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 401046 |
| 0.25%, 06/29/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 689192 |
| 0.63%, 11/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 489294 |
| 0.63%, 02/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 728584 |
| 0.75%, 06/08/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 526288 |
| 0.75%, 01/17/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 666070 |
| 1.25%, 12/05/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 619367 |
| 1.50%, 10/07/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 120702 |
| 1.63%, 01/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 214662 |
| 1.63%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 516071 |
| 1.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 305263 |
| 1.88%, 11/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106135 |
| 1.88%, 06/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 404382 |
| 2.38%, 03/24/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 537648 |
| 2.63%, 11/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 733296 |
| 3.25%, 10/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1079646 |
| 3.50%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219967 |
| 3.63%, 09/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 663723 |
| 3.75%, 02/03/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220798 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 3.88%, 06/16/32, <br> (5-year EUR Swap + 2.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| $326477 |
| 4.38%, 05/02/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 225865 |
| BNP Paribas Cardif SA, 4.03%, <br> (3-mo. EURIBOR + 3.930%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 436272 |
| BNP Paribas Home Loan SFH SA, 3.00%, <br> 01/31/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| 991024 |
| BNP Paribas SA |  |  |
| 0.50%, 02/19/28, <br> (3-mo. EURIBOR + 0.730%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 818013 |
| 0.50%, 01/19/30, <br> (3-mo. EURIBOR + 0.830%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 673678 |
| 0.63%, 12/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 606668 |
| 0.88%, 08/31/33, <br> (5-year EUR Swap + 1.170%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 388197 |
| 1.13%, 04/17/29, <br> (3-mo. EURIBOR + 1.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 708512 |
| 1.13%, 01/15/32, <br> (5-year EUR Swap + 1.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 615979 |
| 1.25%, 07/13/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 498830 |
| 1.38%, 05/28/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 798662 |
| 1.50%, 11/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 536950 |
| 1.88%, 12/14/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 584827 |
| 2.00%, 09/13/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 179780 |
| 2.13%, 01/23/27, <br> (3-mo. EURIBOR + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| 968081 |
| 2.54%, 07/13/29<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 135666 |
| 2.75%, 01/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216866 |
| 2.88%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 480<br>| 519322 |
| 3.38%, 01/23/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 600<br>| 757594 |
| 3.63%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 772049 |
| 4.13%, 09/26/32, <br> (3-mo. EURIBOR + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| 1026899 |
| 4.13%, 05/24/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 575738 |
| Bouygues SA |  |  |
| 1.38%, 06/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 629183 |
| 2.25%, 06/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 418896 |
| 3.25%, 06/30/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 521481 |
| 3.88%, 07/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 224262 |
| 4.63%, 06/07/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 468461 |
| BPCE SA |  |  |
| 0.25%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 737586 |
| 0.25%, 01/14/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 902654 |
| 0.50%, 02/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 820604 |
| 0.50%, 01/14/28, <br> (3-mo. EURIBOR + 0.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 615153 |
| 1.00%, 01/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 637505 |
| 1.63%, 03/02/29, <br> (3-mo. EURIBOR + 1.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 616223 |
| 1.75%, 02/02/34, <br> (5-year EUR Swap + 1.570%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 397871 |
| 3.88%, 01/25/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443266 |
| 4.50%, 01/13/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 570583 |
| 4.63%, 03/02/30, <br> (3-mo. EURIBOR + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 454154 |
| 5.13%, 01/25/35, <br> (5-year EUR Swap + 2.500%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 452375 |
| 5.25%, 04/16/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 633181 |
| 5.38%, 10/22/31, <br> (1-year GBP Swap + 1.456%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 254544 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| BPCE SFH SA |  |  |
| 0.00%, 11/10/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $200980 |
| 0.00%, 03/23/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 99449 |
| 0.00%, 05/27/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 372843 |
| 0.00%, 03/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 272761 |
| 0.13%, 12/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 832397 |
| 0.38%, 03/18/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 142823 |
| 0.50%, 01/23/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 255924 |
| 0.63%, 09/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 411008 |
| 0.63%, 05/29/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 377382 |
| 0.75%, 09/02/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 534838 |
| 0.75%, 02/23/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 600069 |
| 0.88%, 04/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 613584 |
| 1.00%, 06/08/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200968 |
| 1.13%, 04/12/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1195391 |
| 3.00%, 10/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 329274 |
| 3.13%, 01/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 771887 |
| 3.13%, 05/22/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221202 |
| 3.25%, 04/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 553534 |
| 3.38%, 06/27/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 337391 |
| Caisse de Refinancement de l'Habitat SA |  |  |
| 0.00%, 02/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 399344 |
| 0.00%, 10/08/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 476297 |
| 0.13%, 04/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 306687 |
| 3.00%, 01/12/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 982320 |
| 3.13%, 02/23/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 550838 |
| 3.38%, 06/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 449742 |
| Caisse Nationale de Reassurance Mutuelle <br> Agricole Groupama<br>|  |  |
| 3.38%, 09/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215048 |
| 6.00%, 01/23/27 | &nbsp;&nbsp; EUR<br> 400<br>| 457722 |
| Capgemini SE |  |  |
| 0.63%, 06/23/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 321356 |
| 1.13%, 06/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 194866 |
| 2.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 416599 |
| 2.38%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 203837 |
| Carmila SA, 1.63%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300471 |
| Carrefour SA |  |  |
| 1.00%, 05/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 621630 |
| 1.75%, 05/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 214088 |
| 2.38%, 10/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 523897 |
| 3.63%, 10/17/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216616 |
| CCF SFH SACA |  |  |
| 0.50%, 04/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215138 |
| 0.75%, 03/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207939 |
| 2.50%, 06/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323244 |
| Cie de Financement Foncier SA |  |  |
| 3.13%, 06/06/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 441842 |
| 3.63%, 01/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 450455 |
| Cie de Saint-Gobain SA |  |  |
| 1.88%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 99812 |
| 3.38%, 04/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 548400 |
| 3.63%, 04/08/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 438817 |
| Cie Generale des Etablissements Michelin SCA, <br> 1.75%, 05/28/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 106465 |
| Cie. de Financement Foncier SA |  |  |
| 0.00%, 04/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 674551 |
| 0.00%, 09/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 369198 |
| 0.00%, 10/29/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 157222 |
| 0.23%, 09/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 520595 |
| 0.38%, 12/11/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 325378 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 0.75%, 05/29/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| $634487 |
| 0.75%, 01/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 204702 |
| 0.88%, 09/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 406082 |
| 1.25%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 383842 |
| 2.38%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213003 |
| 3.38%, 09/16/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,600<br>| 1793243 |
| 4.00%, 10/24/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 660988 |
| Cie. de Saint-Gobain SA |  |  |
| 1.88%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 399246 |
| 2.13%, 06/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 528412 |
| 4.63%, 10/09/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 253442 |
| Cie. Generale des Etablissements Michelin SCA |  |  |
| 1.75%, 05/28/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106465 |
| 1.75%, 09/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 405562 |
| 2.50%, 09/03/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 290578 |
| CNP Assurances SACA |  |  |
| 2.50%, 06/30/51, <br> (3-mo. EURIBOR + 3.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 786401 |
| 2.75%, 02/05/29 | &nbsp;&nbsp; EUR<br> 700<br>| 741119 |
| Coentreprise de Transport d'Electricite SA, <br> 1.50%, 07/29/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 717328 |
| Covivio Hotels SACA, 4.13%, 05/23/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 438796 |
| Covivio SA/France |  |  |
| 1.50%, 06/21/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314082 |
| 1.63%, 06/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 391540 |
| 4.63%, 06/05/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 114957 |
| Credit Agricole Assurances SA |  |  |
| 2.00%, 07/17/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 295817 |
| 4.50%, 12/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220994 |
| 4.75%, 09/27/48, <br> (5-year EUR Swap + 5.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 336566 |
| 5.88%, 10/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 484339 |
| Credit Agricole Home Loan SFH SA |  |  |
| 0.00%, 04/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 496634 |
| 0.00%, 11/03/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 535901 |
| 0.05%, 12/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 664254 |
| 0.38%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 443611 |
| 0.75%, 05/05/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1142356 |
| 0.88%, 08/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 414288 |
| 0.88%, 05/06/34 | &nbsp;&nbsp; EUR<br> 200<br>| 180300 |
| 1.00%, 01/16/29 | &nbsp;&nbsp; EUR<br> 400<br>| 405491 |
| 1.38%, 02/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 196298 |
| 1.50%, 02/03/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 366256 |
| 1.50%, 09/28/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 268360 |
| 1.63%, 05/31/30 | &nbsp;&nbsp; EUR<br> 200<br>| 204502 |
| 2.13%, 01/07/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 316067 |
| 3.13%, 10/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221123 |
| 3.25%, 09/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 557786 |
| 3.25%, 06/08/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222895 |
| Credit Agricole Public Sector SCF SA |  |  |
| 0.00%, 09/13/28 | &nbsp;&nbsp; EUR<br> 200<br>| 196222 |
| 0.63%, 03/29/29 | &nbsp;&nbsp; EUR<br> 300<br>| 298268 |
| 0.88%, 08/02/27 | &nbsp;&nbsp; EUR<br> 100<br>| 103743 |
| 3.00%, 06/14/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220074 |
| Credit Agricole SA |  |  |
| 0.63%, 01/12/28, <br> (3-mo. EURIBOR + 0.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 206100 |
| 0.88%, 01/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 181287 |
| 1.00%, 07/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 495000 |
| 1.13%, 02/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 401590 |
| 1.13%, 07/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 273283 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 2.00%, 03/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| $409785 |
| 2.50%, 04/22/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 396199 |
| 2.63%, 03/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 591391 |
| 3.13%, 01/26/29, <br> (3-mo. EURIBOR + 0.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| 973601 |
| 3.50%, 09/26/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 320384 |
| 3.75%, 01/22/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 553514 |
| 3.88%, 04/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 450119 |
| 4.00%, 01/18/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 454433 |
| 4.13%, 03/07/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 568003 |
| 4.38%, 04/15/36, (5-year EURIBOR ICE <br> Swap + 1.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 660007 |
| 5.41%, 01/18/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 300<br>| 199556 |
| 6.38%, 06/14/31, (1-year UK Government <br> Bond + 2.180%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 406368 |
| Series 2, 0.84%, 06/09/27<sup>(a)</sup> | &nbsp;&nbsp; JPY<br> 100,000<br>| 651909 |
| Credit Agricole SA/London |  |  |
| 1.25%, 04/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 425955 |
| 1.38%, 05/03/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 944854 |
| Credit Mutuel Arkea SA |  |  |
| 0.75%, 01/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 383093 |
| 1.13%, 05/23/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 297612 |
| 1.25%, 06/11/29, <br> (3-mo. EURIBOR + 1.500%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 607040 |
| 1.38%, 01/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216694 |
| 3.38%, 09/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 659555 |
| 3.38%, 03/11/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212206 |
| 3.63%, 10/03/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220562 |
| 4.25%, 12/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 340709 |
| Credit Mutuel Home Loan SFH SA |  |  |
| 0.00%, 07/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 886023 |
| 0.00%, 05/06/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 452444 |
| 0.13%, 01/28/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 378728 |
| 0.63%, 03/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 415844 |
| 0.75%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 412463 |
| 1.00%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 307742 |
| 1.00%, 01/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 404761 |
| 2.75%, 12/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 435723 |
| 3.00%, 11/28/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 878233 |
| Crelan Home Loan SCF, 1.38%, 04/18/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 289092 |
| Danone SA |  |  |
| 0.00%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 739284 |
| 0.71%, 11/03/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 435100 |
| 3.47%, 05/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 776051 |
| Dassault Systemes SE, 0.13%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 619740 |
| Dexia SA |  |  |
| 0.00%, 01/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300710 |
| 0.63%, 01/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 743161 |
| 2.75%, 01/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 545395 |
| 3.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 885066 |
| 4.13%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 253856 |
| Edenred SE, 3.63%, 08/05/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323505 |
| Electricite de France SA |  |  |
| 1.00%, 11/29/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 612142 |
| 2.00%, 12/09/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 211445 |
| 4.00%, 11/12/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 660698 |
| 4.38%, 10/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 797474 |
| 4.50%, 11/12/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 404619 |
| 4.63%, 04/26/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 869563 |
| 4.75%, 10/12/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 702181 |
| 4.75%, 06/17/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 339130 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 5.13%, 09/22/50<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| $323046 |
| 5.50%, 01/25/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 369453 |
| 5.50%, 03/27/37<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 242844 |
| 5.50%, 10/17/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 351945 |
| 5.63%, 01/25/53<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 228061 |
| 5.88%, 07/18/31 | &nbsp;&nbsp; GBP<br> 474<br>| 618942 |
| 6.13%, 06/02/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 350<br>| 453841 |
| Series MPLE, 5.38%, Series MPLE, 05/17/34 | &nbsp;&nbsp; CAD<br> 200<br>| 147682 |
| Engie SA |  |  |
| 1.25%, 10/24/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 143827 |
| 1.38%, 06/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 514225 |
| 1.38%, 02/28/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 610601 |
| 1.38%, 06/21/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 154506 |
| 1.38%, 06/21/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 77253 |
| 1.50%, 03/13/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 265348 |
| 1.50%, (5-year EUR Swap + 1.884%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 298165 |
| 3.50%, 09/27/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 551106 |
| 3.63%, 01/11/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 442962 |
| 3.88%, 01/06/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 446439 |
| 4.25%, 09/06/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 568198 |
| 4.25%, 01/11/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 333008 |
| 4.50%, 09/06/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 343234 |
| 5.00%, 10/01/60<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 274829 |
| 5.13%, (5-year EURIBOR ICE Swap + <br> 2.367%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 335780 |
| 5.63%, 04/03/53<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 243032 |
| 5.95%, 03/16/2111<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 67964 |
| 7.00%, 10/30/28 | &nbsp;&nbsp; GBP<br> 100<br>| 138014 |
| EssilorLuxottica SA |  |  |
| 0.38%, 01/05/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317063 |
| 0.38%, 11/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 809869 |
| 0.75%, 11/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 374319 |
| Gecina SA |  |  |
| 0.88%, 01/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 357663 |
| 0.88%, 06/30/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 160286 |
| 1.00%, 01/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 99971 |
| 1.38%, 06/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105148 |
| 1.38%, 01/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 309398 |
| 1.63%, 05/29/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 186316 |
| GELF Bond Issuer I SA, 1.13%, 07/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 193652 |
| Groupe des Assurances du Credit Mutuel SADIR |  |  |
| 1.85%, 04/21/42, <br> (3-mo. EURIBOR + 2.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 549417 |
| 3.75%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 550514 |
| 5.00%, 10/30/44, <br> (3-mo. EURIBOR + 3.250%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 334524 |
| Holding d'Infrastructures de Transport SASU, <br> 1.63%, 09/18/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 499439 |
| ICADE |  |  |
| 0.63%, 01/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 177990 |
| 1.00%, 01/19/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 283405 |
| 1.13%, 11/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213189 |
| Ile-de-France Mobilites |  |  |
| 0.20%, 11/16/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 153804 |
| 0.68%, 11/24/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 158117 |
| Ile-De-France Mobilites, 1.00%, 05/25/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 264670 |
| Imerys SA, 1.50%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 629981 |
| Indigo Group SAS, 1.63%, 04/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 205323 |
| In'li SA, 1.13%, 07/02/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 195458 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| JCDecaux SE |  |  |
| 1.63%, 02/07/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $196629 |
| 5.00%, 01/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 573650 |
| Kering SA |  |  |
| 0.75%, 05/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 503418 |
| 3.38%, 02/27/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212875 |
| 3.63%, 09/05/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 439009 |
| 3.88%, 09/05/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 550524 |
| Klepierre SA |  |  |
| 0.63%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 466127 |
| 0.88%, 02/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 278885 |
| 2.00%, 05/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 309842 |
| La Banque Postale Home Loan SFH SA |  |  |
| 0.00%, 10/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 284892 |
| 0.63%, 06/23/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 258483 |
| 1.00%, 10/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 204170 |
| 1.63%, 05/12/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 716244 |
| 3.13%, 02/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 441339 |
| La Banque Postale SA |  |  |
| 0.75%, 06/23/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 270908 |
| 2.00%, 07/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 828737 |
| 4.00%, 05/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1116422 |
| 5.50%, 03/05/34, <br> (5-year EUR Swap + 2.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 570909 |
| 5.63%, 09/21/28, (1-year UK Government <br> Bond + 2.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 400<br>| 515492 |
| La Mondiale SAM |  |  |
| 0.75%, 04/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 420178 |
| 2.13%, 06/23/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 194913 |
| La Poste SA |  |  |
| 0.38%, 09/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 707558 |
| 1.00%, 09/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 519197 |
| 1.38%, 04/21/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 851600 |
| Legrand SA |  |  |
| 0.63%, 06/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 301167 |
| 1.00%, 03/06/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 318679 |
| 3.50%, 06/26/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 331486 |
| L'Oreal SA, 0.88%, 06/29/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 527240 |
| LVMH Moet Hennessy Louis Vuitton SE |  |  |
| 0.13%, 02/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 500139 |
| 0.13%, 02/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200056 |
| 1.13%, 02/11/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 596270 |
| 3.50%, 09/07/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 780979 |
| MMB SCF SACA, 0.00%, 09/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 357423 |
| MMS USA Holdings Inc., 1.75%, 06/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 298575 |
| Mutuelle Assurance Des Commercants et <br> Industriels de France et Des Cadres et Sal, <br> 2.13%, 06/21/52, <br> (3-mo. EURIBOR + 3.449%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 446802 |
| Nerval SAS Co., 2.88%, 04/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 203245 |
| Orange SA |  |  |
| 0.88%, 02/03/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 625416 |
| 1.38%, 03/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 725585 |
| 1.38%, 09/04/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 220152 |
| 1.50%, 09/09/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 210057 |
| 1.75%, (5-year EUR Swap + 2.100%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 301510 |
| 2.38%, 05/18/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 617845 |
| 3.25%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 114713 |
| 4.50%, (5-year EURIBOR ICE Swap + <br> 2.029%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 221598 |
| 5.00%, (5-year EUR Swap + 3.990%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 446583 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 5.38%, 11/22/50<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| $186752 |
| 5.38%, (5-year EUR Swap + 2.659%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 460372 |
| 5.63%, 01/23/34 | &nbsp;&nbsp; GBP<br> 291<br>| 384596 |
| 8.13%, 01/28/33 | &nbsp;&nbsp; EUR<br> 745<br>| 1096786 |
| Orano SA, 2.75%, 03/08/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 636444 |
| Pernod Ricard SA |  |  |
| 0.50%, 10/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 406989 |
| 1.38%, 04/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 506170 |
| 1.75%, 04/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 303604 |
| 3.75%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 551747 |
| Praemia Healthcare SACA, 0.88%, 11/04/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 284047 |
| RCI Banque SA |  |  |
| 1.13%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 728609 |
| 1.63%, 04/11/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 345<br>| 372642 |
| 1.75%, 04/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 637<br>| 678107 |
| 3.75%, 10/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 550230 |
| 4.13%, 04/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 330112 |
| 4.88%, 10/02/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 229637 |
| Regie Autonome des Transports Parisiens EPIC, <br> 0.88%, 05/25/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 415021 |
| RTE Reseau de Transport d'Electricite SADIR |  |  |
| 0.00%, 09/09/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 600147 |
| 0.75%, 01/12/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 690881 |
| 1.13%, 09/09/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 129243 |
| 1.13%, 09/09/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 129243 |
| 1.63%, 11/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 537320 |
| 2.13%, 09/27/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 182207 |
| 3.50%, 12/07/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 880702 |
| Schneider Electric SE, 3.00%, 09/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1086316 |
| SCOR SE, 3.00%, 06/08/46, <br> (10-year EUR Swap + 3.250%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 321533 |
| SNCF Reseau |  |  |
| 0.75%, 05/25/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 484554 |
| 0.88%, 01/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 299530 |
| 1.00%, 11/09/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 564258 |
| 1.13%, 05/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 417296 |
| 1.13%, 05/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 784692 |
| 1.88%, 03/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 287440 |
| 2.25%, 12/20/47<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 494450 |
| 4.25%, 10/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 558981 |
| 4.83%, 03/25/60 | &nbsp;&nbsp; GBP<br> 160<br>| 184920 |
| 5.25%, 12/07/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 197400 |
| Societe Fonciere Lyonnaise SA, 1.50%, <br> 06/05/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 104151 |
| Societe Generale SA |  |  |
| 0.13%, 02/24/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 630115 |
| 0.50%, 06/12/29, <br> (3-mo. EURIBOR + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 781522 |
| 0.63%, 12/02/27, <br> (3-mo. EURIBOR + 0.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 411668 |
| 0.75%, 01/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 928605 |
| 0.88%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105028 |
| 1.25%, 06/12/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 669499 |
| 2.13%, 09/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 724585 |
| 2.63%, 02/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 542286 |
| 4.00%, 11/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 558798 |
| 4.25%, 12/06/30, <br> (3-mo. EURIBOR + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 666388 |
| 5.63%, 06/02/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 349160 |
| 5.75%, 01/22/32, (1-year GUK + 2.050%)<sup>(a)(b)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 636043 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Societe Generale SFH SA |  |  |
| 0.00%, 02/11/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| $471204 |
| 0.00%, 02/05/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 91407 |
| 0.50%, 01/30/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 324332 |
| 0.50%, 01/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1484640 |
| 0.75%, 10/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 411863 |
| 0.75%, 01/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 512139 |
| 1.38%, 05/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 520094 |
| 1.75%, 05/05/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 294526 |
| 3.13%, 02/24/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 663463 |
| 3.13%, 02/01/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 276373 |
| Societe Nationale SNCF SACA, 1.50%, <br> 02/02/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 306466 |
| Sodexo SA |  |  |
| 1.00%, 07/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 404878 |
| 2.50%, 06/24/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 162354 |
| Sogecap SA |  |  |
| 5.00%, 04/03/45, <br> (3-mo. EURIBOR + 3.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 435722 |
| 6.50%, 05/16/44, <br> (3-mo. EURIBOR + 4.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 240988 |
| Suez SACA |  |  |
| 1.88%, 05/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105264 |
| 2.38%, 05/24/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 410076 |
| 2.88%, 05/24/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 201813 |
| 4.63%, 11/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227888 |
| 5.00%, 11/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 353500 |
| 6.63%, 10/05/43<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 273093 |
| TDF Infrastructure SASU |  |  |
| 2.50%, 04/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215860 |
| 4.13%, 10/23/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 860689 |
| Technip Energies NV, 1.13%, 05/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 301953 |
| Teleperformance SE |  |  |
| 3.75%, 06/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323737 |
| 5.25%, 11/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227262 |
| Terega SA, 4.00%, 09/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 109633 |
| Terega SASU, 0.63%, 02/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 199034 |
| Thales SA |  |  |
| 0.25%, 01/29/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 613710 |
| 4.25%, 10/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 685362 |
| Tikehau Capital SCA |  |  |
| 2.25%, 10/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 424825 |
| 6.63%, 03/14/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 363244 |
| TotalEnergies Capital International SA |  |  |
| 0.75%, 07/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 709296 |
| 1.38%, 10/04/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 303900 |
| 1.41%, 09/03/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 209006 |
| 1.66%, 07/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 489310 |
| 1.99%, 04/08/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 802008 |
| 2.50%, 03/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 541655 |
| TotalEnergies SE |  |  |
| 1.63%, (5-year EUR Swap + 1.993%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 508523 |
| 2.00%, (5-year EUR Swap + 2.404%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 582490 |
| 3.25%, (5-year EUR Swap + 2.943%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 289613 |
| 3.37%, (5-year EUR Swap + 3.350%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 340<br>| 367986 |
| Unibail-Rodamco-Westfield SE |  |  |
| 0.88%, 03/29/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 623100 |
| 1.38%, 12/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 185677 |
| 1.50%, 02/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 467117 |
| 1.75%, 02/27/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 279068 |
| 2.00%, 06/29/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 384793 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 2.25%, 05/14/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $176834 |
| 2.50%, 06/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 539254 |
| 2.63%, 04/09/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106524 |
| 2.88%, (5-year EUR Swap + 2.109%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213199 |
| 3.88%, 09/11/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216062 |
| 7.25%, (5-year EURIBOR ICE Swap + <br> 3.995%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 235759 |
| Veolia Environnement SA |  |  |
| 1.25%, 05/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 617115 |
| 1.25%, 05/14/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 262017 |
| 1.50%, 11/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 423560 |
| 1.63%, (5-year EURIBOR ICE Swap + <br> 2.151%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 104772 |
| 6.13%, 11/25/33 | &nbsp;&nbsp; EUR<br> 465<br>| 613499 |
| Vinci SA |  |  |
| 1.63%, 01/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 514704 |
| 2.75%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 212604 |
| 2.75%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 106302 |
| Wendel SE, 1.00%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 280538 |
| Westfield America Management Ltd. |  |  |
| 2.13%, 03/30/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 254382 |
| 2.63%, 03/30/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 229262 |
| Worldline SA/France, 0.88%, 06/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 290027 |
|  |  | 200894020 |
| **Georgia — 0.1%** | **Georgia — 0.1%** | **Georgia — 0.1%** |
| Berlin Hyp AG, 2.75%, 05/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 109346 |
| Commerzbank AG, 1.13%, 06/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317683 |
| E.ON SE |  |  |
| 3.13%, 03/05/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 872943 |
| 3.88%, 09/05/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218716 |
| Investitionsbank Berlin, 2.25%, 09/28/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,700<br>| 1823619 |
| Kreditanstalt fuer Wiederaufbau, 2.50%, <br> 10/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 5,400<br>| 5816814 |
|  |  | 9159121 |
| **Germany — 3.1%** | **Germany — 3.1%** | **Germany — 3.1%** |
| Aareal Bank AG |  |  |
| 0.00%, 08/03/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 621611 |
| 0.13%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 847142 |
| 0.75%, 04/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 395261 |
| 3.88%, 05/18/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 386770 |
| adidas AG, 3.13%, 11/21/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219156 |
| Allianz Finance II BV |  |  |
| 0.00%, 11/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 205951 |
| 0.50%, 01/14/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 375017 |
| 0.88%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 532560 |
| 1.38%, 04/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 196364 |
| Series 62, 4.50%, 03/13/43<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 350520 |
| Allianz SE |  |  |
| 1.30%, 09/25/49, <br> (3-mo. EURIBOR + 2.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 290661 |
| 3.10%, 07/06/47, <br> (3-mo. EURIBOR + 3.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 538971 |
| 4.25%, 07/05/52, <br> (3-mo. EURIBOR + 3.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220669 |
| 4.85%, 07/26/54, <br> (3-mo. EURIBOR + 3.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 343370 |
| 5.82%, 07/25/53, <br> (3-mo. EURIBOR + 3.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 485724 |
| Amprion GmbH |  |  |
| 3.45%, 09/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 330550 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 3.97%, 09/22/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| $674614 |
| 4.00%, 05/21/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221571 |
| Aroundtown Finance SARL, 7.13%, (5-year <br> EURIBOR ICE Swap + 4.508%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 296211 |
| Aroundtown SA |  |  |
| 0.00%, 07/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 307906 |
| 0.38%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200536 |
| 1.45%, 07/09/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300926 |
| 1.63%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 202740 |
| 1.63%, (5-year EUR Swap + 2.419%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 87189 |
| 3.63%, 04/10/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 272002 |
| BASF SE |  |  |
| 0.88%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 669031 |
| 0.88%, 10/06/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 160<br>| 152191 |
| 1.50%, 03/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 491047 |
| 3.75%, 06/29/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 445229 |
| Bausparkasse Schwaebisch Hall AG |  |  |
| 0.20%, 10/28/31 | &nbsp;&nbsp; EUR<br> 300<br>| 274270 |
| 0.20%, 04/27/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 525237 |
| Bayer AG |  |  |
| 0.63%, 07/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 355181 |
| 1.00%, 01/12/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 157593 |
| 1.38%, 07/06/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 545373 |
| 4.00%, 08/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 552870 |
| Bayer Capital Corp. BV |  |  |
| 1.50%, 06/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 637261 |
| 2.13%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 813490 |
| Bayerische Landesbank |  |  |
| 0.05%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 229934 |
| 0.20%, 05/20/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 428894 |
| 0.75%, 01/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 230<br>| 244521 |
| 0.75%, 01/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 667505 |
| 1.38%, 11/22/32, <br> (5-year EUR Swap + 1.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 798619 |
| 2.50%, 06/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 537620 |
| 4.38%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 340772 |
| Bayerische Landesbodenkreditanstalt |  |  |
| 0.63%, 11/23/26 | &nbsp;&nbsp; EUR<br> 100<br>| 104787 |
| 2.88%, 02/28/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 980<br>| 1083476 |
| Berlin Hyp AG |  |  |
| 0.00%, 02/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 616160 |
| 0.13%, 01/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 811352 |
| 0.50%, 11/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 478018 |
| 1.75%, 05/10/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 865599 |
| Bertelsmann SE & Co. KGaA, 3.50%, <br> 05/29/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 440363 |
| BMW Finance NV |  |  |
| 0.00%, 01/11/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 526212 |
| 0.38%, 01/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 515276 |
| 0.75%, 07/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 605<br>| 635049 |
| 0.88%, 04/03/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 431<br>| 464443 |
| 0.88%, 01/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 325262 |
| 1.00%, 01/21/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 54122 |
| 1.13%, 01/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 475<br>| 489347 |
| 1.50%, 02/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 912<br>| 936613 |
| BMW International Investment BV, 3.50%, <br> 11/17/32<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 219497 |
| BMW U.S. Capital LLC, 3.38%, 02/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 322371 |
| Commerzbank AG |  |  |
| 0.25%, 01/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 45714 |
| 0.50%, 06/09/26 | &nbsp;&nbsp; EUR<br> 670<br>| 704963 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 0.63%, 08/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $206204 |
| 0.88%, 01/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 725448 |
| 0.88%, 04/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 667536 |
| 1.25%, 01/09/34 | &nbsp;&nbsp; EUR<br> 150<br>| 142770 |
| 1.50%, 08/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 572384 |
| 1.75%, 01/22/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 383688 |
| 2.25%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,128<br>| 1185411 |
| 2.88%, 04/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 437547 |
| 3.00%, 03/13/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 553440 |
| 3.13%, 04/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 887485 |
| 4.00%, 03/23/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219304 |
| 4.00%, 03/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 110663 |
| 4.00%, 12/05/30, <br> (5-year EUR Swap + 4.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 108934 |
| 4.00%, 07/16/32, <br> (3-mo. EURIBOR + 1.250%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 329086 |
| 4.88%, 10/16/34, (5-year EURIBOR ICE <br> Swap + 2.150%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 111572 |
| 6.50%, 12/06/32, (5-year EURIBOR ICE <br> Swap + 4.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 232487 |
| 6.75%, 10/05/33, (5-year EURIBOR ICE <br> Swap + 3.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 118402 |
| 8.63%, 02/28/33, (5-year GUK + 5.251%)<sup>(a)(b)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 138231 |
| Commerzbank Ag Subordinated, 1.38%, <br> 12/29/31, (5-year EUR Swap + 1.730%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 103626 |
| Continental AG, 2.50%, 08/27/26 | &nbsp;&nbsp; EUR<br> 450<br>| 483956 |
| Covestro AG, 0.88%, 02/03/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 371546 |
| Daimler Truck Finance Canada Inc., 4.54%, <br> 09/27/29<br>| &nbsp;&nbsp; CAD<br> 200<br>| 145946 |
| Daimler Truck International Finance BV, 1.63%, <br> 04/06/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 316185 |
| Daimler Trucks Finance Canada Inc., 2.46%, <br> 12/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; CAD<br> 200<br>| 139865 |
| DekaBank Deutsche Girozentrale, 0.30%, <br> 11/20/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 516252 |
| Deutsche Apotheker-Und Aerztebank eG, 0.75%, <br> 10/05/27<br>| &nbsp;&nbsp; EUR<br> 400<br>| 412622 |
| Deutsche Bahn Finance GmbH |  |  |
| 3.38%, 01/29/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 280<br>| 304669 |
| 4.00%, 11/23/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 370<br>| 428863 |
| Deutsche Bahn Finance GMBH |  |  |
| 0.63%, 09/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 303688 |
| 0.63%, 12/08/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 341210 |
| 0.88%, 07/11/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 870<br>| 833460 |
| 1.00%, 12/17/27 | &nbsp;&nbsp; EUR<br> 700<br>| 726064 |
| 1.13%, 12/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 862<br>| 882441 |
| 1.38%, 04/16/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 449032 |
| 2.75%, 03/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 328154 |
| Deutsche Bank AG |  |  |
| 0.13%, 01/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 95315 |
| 0.25%, 08/31/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 322<br>| 320000 |
| 0.50%, 06/09/26 | &nbsp;&nbsp; EUR<br> 250<br>| 263070 |
| 1.13%, 03/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215907 |
| 1.38%, 02/17/32, <br> (3-mo. EURIBOR + 1.500%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 376701 |
| 1.63%, 01/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 630425 |
| 1.75%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 519696 |
| 1.75%, 11/19/30, <br> (3-mo. EURIBOR + 2.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 790529 |
| 2.63%, 02/12/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 540291 |
| 2.63%, 06/30/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 742003 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 3.13%, 05/19/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| $670104 |
| 3.25%, 05/24/28, <br> (3-mo. EURIBOR + 1.930%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 650495 |
| 4.00%, 06/24/32, (5-year EURIBOR ICE <br> Swap + 3.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 542684 |
| 5.63%, 05/19/31, <br> (5-year EUR Swap + 6.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 333333 |
| 6.13%, 12/12/30, <br> (1-day SONIA + 2.621%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 400<br>| 523892 |
| Deutsche Boerse AG |  |  |
| 0.13%, 02/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 454707 |
| 1.50%, 04/04/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 486163 |
| 1.63%, 10/08/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 370<br>| 398421 |
| 3.88%, 09/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 110627 |
| Deutsche Kreditbank AG |  |  |
| 0.00%, 11/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 620<br>| 592595 |
| 0.88%, 10/02/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 509728 |
| 1.63%, 05/05/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 100701 |
| 2.88%, 03/21/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217204 |
| Deutsche Lufthansa AG |  |  |
| 3.75%, 02/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 657579 |
| 4.00%, 05/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 335126 |
| Deutsche Pfandbriefbank AG |  |  |
| 0.10%, 01/21/28 | &nbsp;&nbsp; EUR<br> 700<br>| 696028 |
| 0.25%, 10/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 626234 |
| 0.63%, 08/30/27 | &nbsp;&nbsp; EUR<br> 600<br>| 613888 |
| 3.00%, 01/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 654373 |
| 4.38%, 08/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217755 |
| Deutsche Post AG |  |  |
| 1.00%, 05/20/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 449<br>| 434950 |
| 1.63%, 12/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 313734 |
| 2.88%, 12/11/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 334<br>| 363178 |
| 3.50%, 03/25/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218074 |
| Deutsche Telekom AG |  |  |
| 1.75%, 03/25/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 354301 |
| 1.75%, 12/09/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 444<br>| 345972 |
| Deutsche Telekom International Finance BV |  |  |
| 0.63%, 12/13/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 379613 |
| 1.38%, 01/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 634473 |
| 1.50%, 04/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 355<br>| 370272 |
| 2.25%, 04/13/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 289<br>| 337865 |
| 4.50%, 10/28/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 177282 |
| 7.63%, 06/15/30 | &nbsp;&nbsp; GBP<br> 350<br>| 510092 |
| Deutsche Wohnen SE, 1.50%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 195306 |
| DZ HYP AG |  |  |
| 0.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 514232 |
| 0.00%, 10/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 725<br>| 711302 |
| 0.00%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 742450 |
| 0.05%, 12/06/24 | &nbsp;&nbsp; EUR<br> 100<br>| 108475 |
| 0.10%, 08/31/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 520058 |
| 0.38%, 11/10/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 425<br>| 364138 |
| 0.50%, 11/13/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 385<br>| 409841 |
| 0.75%, 02/02/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 743818 |
| 0.75%, 06/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 622419 |
| 0.88%, 01/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1011521 |
| 0.88%, 01/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 795512 |
| 0.88%, 04/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 228775 |
| E.ON International Finance BV |  |  |
| 1.50%, 07/31/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 786<br>| 801107 |
| 1.63%, 05/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 308<br>| 330120 |
| 5.88%, 10/30/37<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 326845 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 6.13%, 07/06/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 350<br>| $466092 |
| 6.25%, 06/03/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 138<br>| 186846 |
| 6.38%, 06/07/32 | &nbsp;&nbsp; GBP<br> 381<br>| 519377 |
| E.ON SE |  |  |
| 0.25%, 10/24/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 467207 |
| 0.38%, 09/29/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 511078 |
| 0.75%, 02/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 327<br>| 335267 |
| 0.88%, 10/18/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 192<br>| 166696 |
| 1.63%, 05/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 215<br>| 222049 |
| 3.50%, 03/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 441079 |
| 3.75%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 337142 |
| 3.88%, 01/12/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 336483 |
| 4.13%, 03/25/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 444998 |
| EnBW Energie Baden-Wuerttemberg AG, 1.63%, <br> 08/05/79, (5-year EURIBOR ICE Swap + <br> 1.725%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 821251 |
| EnBW International Finance BV |  |  |
| 0.13%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200915 |
| 0.50%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 392<br>| 338509 |
| 1.88%, 10/31/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 86<br>| 83476 |
| 6.13%, 07/07/39 | &nbsp;&nbsp; EUR<br> 580<br>| 788892 |
| Erste Abwicklungsanstalt, 3.13%, 06/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 439663 |
| Eurogrid GmbH |  |  |
| 1.11%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 184044 |
| 3.28%, 09/05/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 432527 |
| 3.92%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 557553 |
| Evonik Industries AG, 0.75%, 09/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 270<br>| 277896 |
| Fresenius Medical Care AG & Co. KGaA, 1.25%, <br> 11/29/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 296727 |
| Fresenius SE & Co. KGaA |  |  |
| 0.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 785<br>| 797297 |
| 1.88%, 05/24/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 324320 |
| 2.88%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 270<br>| 294888 |
| 5.13%, 10/05/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 649113 |
| Grand City Properties SA |  |  |
| 1.38%, 08/03/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314846 |
| 1.50%, 02/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 103759 |
| 1.50%, (5-year EUR Swap + 2.184%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 288620 |
| Hamburg Commercial Bank AG |  |  |
| 0.00%, 01/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 204449 |
| 2.00%, 07/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212572 |
| 3.13%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218487 |
| 3.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 331668 |
| 4.50%, 07/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220528 |
| Hamburger Sparkasse AG, 3.00%, 02/28/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 662904 |
| Hannover Rueck SE |  |  |
| 1.13%, 04/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 309944 |
| 1.38%, 06/30/42, <br> (3-mo. EURIBOR + 2.330%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 182547 |
| 1.75%, 10/08/40, <br> (3-mo. EURIBOR + 3.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 390467 |
| Heidelberg Materials AG |  |  |
| 1.50%, 02/07/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 531<br>| 574856 |
| 3.95%, 07/19/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 440704 |
| Heidelberg Materials Finance Luxembourg SA |  |  |
| 1.13%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 330466 |
| 1.50%, 06/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 235<br>| 247525 |
| HOCHTIEF AG, 0.63%, 04/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 340474 |
| HOWOGE Wohnungsbaugesellschaft mbH, <br> 0.63%, 11/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 784228 |
| Infineon Technologies AG, 1.63%, 06/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 408482 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| ING-DiBa AG |  |  |
| 0.25%, 11/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| $727888 |
| 1.00%, 05/23/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 251991 |
| 1.25%, 10/09/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 476897 |
| Investitionsbank Berlin |  |  |
| 0.50%, 04/17/26 | &nbsp;&nbsp; EUR<br> 200<br>| 211291 |
| 2.75%, 10/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 438670 |
| 3.13%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 561856 |
| Series 214, 0.00%, 04/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200049 |
| K+S AG, 4.25%, 06/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 110132 |
| Kreditanstalt fuer Wiederaufbau |  |  |
| 0.00%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 625<br>| 653488 |
| 0.00%, 09/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,700<br>| 1765643 |
| 0.00%, 03/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,450<br>| 1487131 |
| 0.00%, 04/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1023929 |
| 0.00%, 05/05/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1433138 |
| 0.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,050<br>| 1057594 |
| 0.00%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,850<br>| 1828654 |
| 0.00%, 11/09/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,595<br>| 1568557 |
| 0.00%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1355472 |
| 0.00%, 09/17/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,700<br>| 2524967 |
| 0.00%, 01/10/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,890<br>| 1751097 |
| 0.05%, 09/29/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,010<br>| 841131 |
| 0.13%, 12/30/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 235053 |
| 0.13%, 01/09/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,370<br>| 2156426 |
| 0.38%, 03/09/26 | &nbsp;&nbsp; EUR<br> 1,370<br>| 1449873 |
| 0.38%, 05/20/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 330998 |
| 0.50%, 09/15/27 | &nbsp;&nbsp; EUR<br> 1,100<br>| 1131528 |
| 0.63%, 02/22/27 | &nbsp;&nbsp; EUR<br> 800<br>| 834760 |
| 0.63%, 01/07/28 | &nbsp;&nbsp; EUR<br> 2,151<br>| 2207956 |
| 0.75%, 12/07/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 576614 |
| 0.75%, 06/28/28 | &nbsp;&nbsp; EUR<br> 1,465<br>| 1497509 |
| 0.88%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 2,102<br>| 2532628 |
| 0.88%, 07/04/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,120<br>| 926920 |
| 1.13%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 310782 |
| 1.13%, 03/31/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,550<br>| 1386561 |
| 1.13%, 06/15/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 88862 |
| 1.25%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 486862 |
| 1.25%, 06/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,010<br>| 2118673 |
| 1.25%, 07/04/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 440<br>| 403559 |
| 1.38%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 497293 |
| 1.38%, 07/31/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 370<br>| 349127 |
| 2.00%, 02/15/27 | &nbsp;&nbsp; AUD<br> 200<br>| 124884 |
| 2.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,300<br>| 1376325 |
| 2.50%, 11/19/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 870631 |
| 2.63%, 04/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,450<br>| 1580698 |
| 2.75%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,213<br>| 1330272 |
| 2.75%, 02/14/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,333<br>| 1457396 |
| 2.88%, 12/28/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 826677 |
| 2.88%, 06/07/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 550691 |
| 3.13%, 10/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 555489 |
| 3.13%, 06/07/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1565073 |
| 3.25%, 03/24/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1240583 |
| 3.75%, 07/30/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 1,200<br>| 1518127 |
| 3.80%, 05/24/28 | &nbsp;&nbsp; AUD<br> 400<br>| 257730 |
| 4.00%, 02/27/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 500<br>| 328478 |
| 4.13%, 02/18/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 640306 |
| 4.40%, 07/12/29 | &nbsp;&nbsp; AUD<br> 500<br>| 327105 |
| 4.88%, 10/10/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 392640 |
| 6.00%, 12/07/28 | &nbsp;&nbsp; GBP<br> 449<br>| 612227 |
| Series EXC, 5.50%, Series EXC, 06/18/25 | &nbsp;&nbsp; GBP<br> 100<br>| 129443 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Landesbank Baden-Wuerttemberg |  |  |
| 0.00%, 06/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| $522303 |
| 0.00%, 09/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 246412 |
| 0.25%, 01/10/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 432772 |
| 0.38%, 01/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 536<br>| 567369 |
| 0.38%, 02/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 816741 |
| 0.38%, 02/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 711153 |
| 1.75%, 02/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 869<br>| 921696 |
| 3.00%, 02/16/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221841 |
| 3.13%, 11/13/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222885 |
| Series 812, 0.00%, 07/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 661003 |
| Landesbank Berlin AG, 4.13%, 11/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 335485 |
| Landesbank Hessen-Thueringen Girozentrale |  |  |
| 0.00%, 07/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 508107 |
| 0.50%, 09/25/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 426423 |
| 0.88%, 03/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1026677 |
| 2.88%, 02/06/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219694 |
| 4.50%, 09/15/32, (5-year EURIBOR ICE <br> Swap + 2.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 653620 |
| Series H337, 0.00%, 09/26/29 | &nbsp;&nbsp; EUR<br> 700<br>| 669989 |
| Landeskreditbank <br> Baden-Wuerttemberg Foerderbank<br>|  |  |
| 0.38%, 04/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 430<br>| 453785 |
| 0.38%, 02/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 414735 |
| 0.63%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 246468 |
| 1.00%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 119565 |
| Landwirtschaftliche Rentenbank |  |  |
| 0.00%, 07/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 496236 |
| 0.00%, 12/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 392778 |
| 0.00%, 11/27/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,510<br>| 1444203 |
| 0.00%, 06/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 720<br>| 658325 |
| 0.00%, 11/26/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 67818 |
| 0.05%, 12/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 478791 |
| 0.05%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 556375 |
| 0.38%, 02/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 457358 |
| 0.50%, 02/28/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 399041 |
| 0.63%, 05/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207751 |
| 0.63%, 10/31/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 42276 |
| 1.38%, 09/08/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 250758 |
| 2.60%, 03/23/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 100<br>| 63189 |
| 3.25%, 09/06/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1237040 |
| 3.25%, 09/26/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 511825 |
| 4.75%, 05/06/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 132294 |
| Lanxess AG |  |  |
| 1.00%, 10/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 52011 |
| 1.13%, 05/16/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 225<br>| 242104 |
| 1.75%, 03/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 410619 |
| LEG Immobilien SE |  |  |
| 0.88%, 11/28/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 306561 |
| 1.50%, 01/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 442473 |
| Mercedes-Benz Finance Canada Inc., 5.14%, <br> 06/29/26<br>| &nbsp;&nbsp; CAD<br> 400<br>| 293550 |
| Mercedes-Benz Group AG |  |  |
| 0.75%, 02/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 674070 |
| 0.75%, 03/11/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 665203 |
| 1.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 514887 |
| 1.13%, 08/08/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 355<br>| 315285 |
| 1.50%, 07/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 356181 |
| 2.00%, 02/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 310<br>| 316242 |
| 2.38%, 05/22/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 522113 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Mercedes-Benz International Finance BV |  |  |
| 0.38%, 11/08/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 825<br>| $852339 |
| 1.63%, 11/11/24<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 257695 |
| 2.00%, 08/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 595<br>| 635501 |
| Merck Financial Services GmbH, 0.50%, <br> 07/16/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 299646 |
| Merck KGaA |  |  |
| 1.63%, 09/09/80, (5-year EURIBOR ICE <br> Swap + 1.998%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 315515 |
| 2.88%, 06/25/79, (5-year EURIBOR ICE <br> Swap + 2.938%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 105376 |
| Muenchener Hypothekenbank eG |  |  |
| 0.00%, 10/19/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 275<br>| 193183 |
| 0.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 294350 |
| 0.13%, 09/05/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 204028 |
| 0.38%, 03/09/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 283949 |
| 0.50%, 03/14/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 377232 |
| 0.50%, 04/22/26 | &nbsp;&nbsp; EUR<br> 250<br>| 263883 |
| 0.63%, 05/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 726521 |
| 1.00%, 04/18/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 168099 |
| 1.88%, 08/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1025512 |
| 2.50%, 07/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 540<br>| 585959 |
| Series 1943, 0.25%, 05/02/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 243201 |
| Muenchener Rueckversicherungs-Gesellschaft <br> AG in Muenchen<br>|  |  |
| 1.00%, 05/26/42, <br> (3-mo. EURIBOR + 2.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 445356 |
| 1.25%, 05/26/41, <br> (3-mo. EURIBOR + 2.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 373256 |
| 3.25%, 05/26/49, <br> (3-mo. EURIBOR + 3.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 106739 |
| 4.25%, 05/26/44, <br> (3-mo. EURIBOR + 2.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 219558 |
| Norddeutsche Landesbank-Girozentrale |  |  |
| 0.25%, 10/28/26 | &nbsp;&nbsp; EUR<br> 687<br>| 714541 |
| 0.75%, 01/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 894<br>| 917449 |
| 2.88%, 01/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1094870 |
| NRW Bank |  |  |
| 0.00%, 10/15/29 | &nbsp;&nbsp; EUR<br> 170<br>| 162864 |
| 0.10%, 07/09/35 | &nbsp;&nbsp; EUR<br> 670<br>| 547169 |
| 0.38%, 12/16/24<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 513070 |
| 0.38%, 11/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 132<br>| 137538 |
| 0.50%, 05/11/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 52720 |
| 0.50%, 06/17/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 363427 |
| 0.63%, 02/11/26 | &nbsp;&nbsp; EUR<br> 300<br>| 318443 |
| 0.88%, 04/12/34 | &nbsp;&nbsp; EUR<br> 200<br>| 183632 |
| 1.20%, 03/28/39 | &nbsp;&nbsp; EUR<br> 100<br>| 85760 |
| 1.63%, 08/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 504308 |
| 2.63%, 02/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,150<br>| 1254495 |
| 2.75%, 02/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,630<br>| 1786381 |
| 3.00%, 05/31/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1109801 |
| Roadster Finance DAC, 1.63%, 12/09/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108536 |
| Robert Bosch GmbH, 4.38%, 06/02/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 689028 |
| RWE AG, 1.00%, 11/26/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 348584 |
| Santander Consumer Bank AG, 0.05%, <br> 02/14/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 190867 |
| SAP SE |  |  |
| 0.75%, 12/10/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 542467 |
| 1.00%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 219<br>| 236299 |
| 1.25%, 03/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 414855 |
| 1.63%, 03/10/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 201860 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 1.75%, 02/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 102<br>| $108777 |
| Sartorius Finance BV |  |  |
| 4.38%, 09/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 226844 |
| 4.88%, 09/14/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 465754 |
| Siemens Energy Finance BV, 4.25%, 04/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 446357 |
| Siemens Financieringsmaatschappij NV |  |  |
| 0.50%, 09/05/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 213365 |
| 1.00%, 02/20/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 382158 |
| 1.00%, 09/06/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 240<br>| 250327 |
| 1.00%, 02/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 692913 |
| 1.25%, 02/28/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 275<br>| 272791 |
| 1.25%, 02/25/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 270073 |
| 1.75%, 02/28/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 666542 |
| 2.88%, 03/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 341<br>| 375541 |
| 3.38%, 08/24/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 445003 |
| 3.38%, 02/22/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 109301 |
| 3.50%, 02/24/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 111139 |
| 3.63%, 02/24/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217858 |
| 3.63%, 02/22/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108974 |
| Talanx AG, 2.25%, 12/05/47, <br> (3-mo. EURIBOR + 2.450%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 311755 |
| Traton Finance Luxembourg SA |  |  |
| 0.75%, 03/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 579859 |
| 3.75%, 03/27/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 543979 |
| UniCredit Bank GmbH |  |  |
| 0.00%, 11/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 351826 |
| 0.00%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 835543 |
| 0.00%, 06/24/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 46801 |
| 0.00%, 01/21/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 276316 |
| 0.25%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 913106 |
| 0.38%, 01/17/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 89896 |
| 0.50%, 05/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 737748 |
| 0.85%, 05/22/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 780<br>| 707981 |
| 3.00%, 05/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219574 |
| Vier Gas Transport GmbH, 4.63%, 09/26/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 349563 |
| Volkswagen Bank GmbH, 2.50%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 535302 |
| Volkswagen Financial Services AG |  |  |
| 0.38%, 02/12/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 504572 |
| 2.25%, 10/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 270<br>| 287947 |
| 3.38%, 04/06/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 327337 |
| Volkswagen Financial Services NV |  |  |
| 1.38%, 09/14/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 331579 |
| 2.25%, 04/12/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 190686 |
| Volkswagen International Finance NV |  |  |
| 2.63%, 11/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 426778 |
| 3.30%, 03/22/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 423007 |
| 3.38%, 11/16/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 618223 |
| 3.50%, (15-year EUR Swap + 3.060%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 535445 |
| 3.75%, (5-year EUR Swap + 2.924%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 520711 |
| 3.88%, (9-year EUR Swap + 3.958%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 404643 |
| 4.13%, 11/16/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 331198 |
| 4.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 445232 |
| 4.25%, 03/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 334667 |
| 4.38%, (9-year EUR Swap + 3.360%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 299403 |
| 4.63%, (10-year EUR Swap + 3.982%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 637965 |
| 4.63%, (12-year EUR Swap + 2.967%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 919718 |
| Series 10Y, 1.88%, 03/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 736203 |
| Volkswagen Leasing GmbH |  |  |
| 0.50%, 01/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 383882 |
| 0.63%, 07/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 520698 |
| 1.38%, 01/20/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 433161 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 1.50%, 06/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| $581575 |
| 4.75%, 09/25/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 514371 |
| Vonovia SE |  |  |
| 0.63%, 10/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 304086 |
| 0.63%, 12/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 473909 |
| 1.00%, 07/09/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 471372 |
| 1.00%, 01/28/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 341724 |
| 1.13%, 09/14/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 84220 |
| 1.50%, 03/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 318841 |
| 1.50%, 06/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317774 |
| 1.50%, 06/14/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 73498 |
| 1.63%, 10/07/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 76920 |
| 1.63%, 09/01/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 128612 |
| 1.75%, 01/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211953 |
| 1.88%, 06/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 622911 |
| 2.38%, 03/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 694461 |
| VW Credit Canada Inc., 5.86%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 377013 |
| Wintershall Dea Finance BV, 1.33%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 400057 |
| Wirtschafts- und Infrastrukturbank Hessen, <br> 0.88%, 06/14/28<br>| &nbsp;&nbsp; EUR<br> 200<br>| 205449 |
| Wuestenrot Bausparkasse AG, Series 20, <br> 3.38%, Series 20, 11/28/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 446812 |
| Wurth Finance International BV |  |  |
| 0.75%, 11/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 306451 |
| 2.13%, 08/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208727 |
|  |  | 213342668 |
| **Greece — 0.0%** | **Greece — 0.0%** | **Greece — 0.0%** |
| Eurobank SA, 4.00%, 09/24/30, <br> (1-year EUR Swap + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 218693 |
| National Bank of Greece SA, 4.50%, 01/29/29, <br> (6-mo. EURIBOR + 1.812%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 223337 |
|  |  | 442030 |
| **Hong Kong — 0.0%** | **Hong Kong — 0.0%** | **Hong Kong — 0.0%** |
| Prudential Funding Asia PLC, 6.13%, <br> 12/19/31<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 250<br>| 330669 |
| **Hungary — 0.0%** | **Hungary — 0.0%** | **Hungary — 0.0%** |
| MOL Hungarian Oil & Gas PLC, 1.50%, <br> 10/08/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 306381 |
| MVM Energetika Zrt, 0.88%, 11/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 198566 |
| OTP Bank Nyrt |  |  |
| 4.25%, 10/16/30, <br> (3-mo. EURIBOR + 1.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 651319 |
| 4.75%, 06/12/28, <br> (3-mo. EURIBOR + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 350<br>| 388060 |
|  |  | 1544326 |
| **Iceland — 0.0%** | **Iceland — 0.0%** | **Iceland — 0.0%** |
| Landsbankinn HF, 3.75%, 10/08/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 648284 |
| **Indonesia — 0.0%** | **Indonesia — 0.0%** | **Indonesia — 0.0%** |
| Perusahaan Perseroan Persero PT Perusahaan <br> Listrik Negara, 1.88%, 11/05/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 277556 |
| **Iran — 0.0%** | **Iran — 0.0%** | **Iran — 0.0%** |
| Grenke Finance PLC, 5.75%, 07/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 224054 |
| Kerry Group Financial Services Unltd Co., <br> 3.75%, 09/05/36<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 109279 |
| Kingspan Securities Ireland DAC, 3.50%, <br> 10/31/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 324204 |
|  |  | 657537 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Ireland — 0.1%** | **Ireland — 0.1%** | **Ireland — 0.1%** |
| AIB Group PLC |  |  |
| 0.50%, 11/17/27, <br> (1-year EUR Swap + 0.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| $413396 |
| 4.63%, 07/23/29, <br> (1-year EUR Swap + 1.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 340902 |
| 5.25%, 10/23/31, <br> (1-year EUR Swap + 2.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 236863 |
| Bank of Ireland Group PLC |  |  |
| 1.38%, 08/11/31, <br> (5-year EUR Swap + 1.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 150<br>| 157178 |
| 4.88%, 07/16/28, <br> (1-year EUR Swap + 2.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 454449 |
| 5.00%, 07/04/31, (1-year EURIBOR ICE <br> Swap + 2.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 819701 |
| Bank Of Ireland Mortgage Bank Ulc, 0.63%, <br> 03/14/25<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 107868 |
| Dell Bank International DAC |  |  |
| 0.50%, 10/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104128 |
| 3.63%, 06/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220330 |
| ESB Finance DAC |  |  |
| 1.75%, 02/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 310662 |
| 1.88%, 06/14/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 899523 |
| 2.13%, 11/05/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 757<br>| 742245 |
| Freshwater Finance PLC, Series A, 5.18%, <br> 04/20/35<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 117632 |
| Glencore Capital Finance DAC, 4.15%, <br> 04/29/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 335930 |
| Kerry Group Financial Services Unltd Co. |  |  |
| 0.63%, 09/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 292943 |
| 0.88%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 93170 |
| Smurfit Kappa Acquisitions ULC, 2.88%, <br> 01/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 350<br>| 379947 |
| Smurfit Kappa Treasury ULC, 0.50%, <br> 09/22/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 286664 |
|  |  | 6313531 |
| **Italy — 0.8%** | **Italy — 0.8%** | **Italy — 0.8%** |
| 2i Rete Gas SpA, 4.38%, 06/06/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 451625 |
| A2A SpA |  |  |
| 1.00%, 07/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 950<br>| 939203 |
| 1.63%, 10/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 525935 |
| ACEA SpA |  |  |
| 0.25%, 07/28/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 950<br>| 869852 |
| 1.00%, 10/24/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 576346 |
| 1.75%, 05/23/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 660<br>| 689855 |
| Aeroporti di Roma SpA |  |  |
| 1.63%, 06/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 262945 |
| 1.75%, 07/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 144251 |
| 4.88%, 07/10/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 115873 |
| AMCO - Asset Management Co. SpA |  |  |
| 0.75%, 04/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 248530 |
| 1.38%, 01/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216460 |
| 2.25%, 07/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 792992 |
| Anima Holding SpA, 1.50%, 04/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 102498 |
| ASTM SpA |  |  |
| 1.00%, 11/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 416901 |
| 2.38%, 11/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 375802 |
| Autostrade per l'Italia SpA |  |  |
| 1.63%, 01/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206230 |
| 1.75%, 06/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213378 |
| 1.75%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211399 |
| 1.88%, 11/04/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 376613 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| 1.88%, 09/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| $505596 |
| 2.00%, 12/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206220 |
| 2.25%, 01/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 413<br>| 401926 |
| 4.63%, 02/28/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222221 |
| Banca Monte dei Paschi di Siena SpA |  |  |
| 0.88%, 10/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314393 |
| 3.50%, 04/23/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 555715 |
| Banca Popolare di Sondrio SpA, 4.13%, <br> 06/04/30, (1-year EUR Swap + 1.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 332294 |
| Banco BPM SpA |  |  |
| 1.00%, 01/23/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216465 |
| 3.25%, 05/28/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 525<br>| 579379 |
| 3.75%, 06/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 335033 |
| 3.88%, 09/18/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221631 |
| 4.63%, 11/29/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 565173 |
| 4.88%, 01/17/30, <br> (3-mo. EURIBOR + 2.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 227149 |
| Banco di Desio e della Brianza SpA, 0.38%, <br> 07/24/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 208769 |
| BPER Banca SpA |  |  |
| 0.63%, 10/28/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 398196 |
| 4.25%, 02/20/30, <br> (3-mo. EURIBOR + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 336459 |
| Coca-Cola HBC Finance BV |  |  |
| 0.63%, 11/21/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 289242 |
| 1.00%, 05/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 103709 |
| Credit Agricole Italia SpA |  |  |
| 0.25%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300345 |
| 0.38%, 01/20/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 363012 |
| 1.00%, 03/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 417475 |
| 1.00%, 01/17/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 143635 |
| 1.13%, 03/21/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215854 |
| 3.50%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 223406 |
| 3.50%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 338126 |
| 3.50%, 03/11/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 448330 |
| Credito Emiliano SpA |  |  |
| 3.25%, 04/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 440884 |
| 4.88%, 03/26/30, <br> (3-mo. EURIBOR + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 462051 |
| Enel Finance International NV |  |  |
| 0.38%, 06/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 919868 |
| 0.75%, 06/17/30<sup>(a)(d)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 664242 |
| 1.13%, 10/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 216<br>| 186498 |
| 1.25%, 01/17/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 261258 |
| 1.38%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 579<br>| 616592 |
| 2.88%, 04/11/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 352518 |
| 3.88%, 01/23/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221260 |
| 4.00%, 02/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 451546 |
| 4.50%, 02/20/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227095 |
| 5.75%, 09/14/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 330<br>| 418664 |
| Enel SpA |  |  |
| Series 6.5Y, 1.38%, <br> (5-year EUR Swap + 1.719%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 830<br>| 839501 |
| Series 9.5Y, 1.88%, Series 9.5Y, <br> (5-year EUR Swap + 2.011%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 376905 |
| Eni SpA |  |  |
| 0.63%, 01/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 382492 |
| 1.13%, 09/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 670<br>| 683168 |
| 1.25%, 05/18/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212057 |
| 1.63%, 05/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104285 |
| 2.75%, (5-year EUR Swap + 2.771%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 299408 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| 3.88%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $220419 |
| 4.25%, 05/19/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 454375 |
| Series NC5, 2.63%, <br> (5-year EUR Swap + 3.167%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 322569 |
| Series NC9, 3.38%, <br> (5-year EUR Swap + 3.641%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 449<br>| 469109 |
| ERG SpA |  |  |
| 1.88%, 04/11/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108142 |
| 4.13%, 07/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221175 |
| Ferrovie dello Stato Italiane SpA |  |  |
| 0.38%, 03/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 775<br>| 772673 |
| 1.13%, 07/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 793314 |
| Generali |  |  |
| 2.12%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 606249 |
| 4.16%, 01/03/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 652115 |
| 4.60%, (3-mo. EURIBOR + 4.500%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218638 |
| 5.50%, 10/27/47, <br> (3-mo. EURIBOR + 5.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 550<br>| 630443 |
| 5.80%, 07/06/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 486250 |
| Genertel SpA, 4.25%, 12/14/47, <br> (3-mo. EURIBOR + 4.455%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220312 |
| Hera SpA |  |  |
| 0.25%, 12/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 973<br>| 878243 |
| 0.88%, 10/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 627007 |
| 2.50%, 05/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 741765 |
| Iccrea Banca SpA |  |  |
| 3.50%, 03/04/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 223029 |
| 3.50%, 06/05/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222644 |
| Intesa Sanpaolo SpA |  |  |
| 0.63%, 02/24/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 685385 |
| 0.75%, 03/16/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 807083 |
| 1.00%, 09/25/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 428201 |
| 1.13%, 06/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 834153 |
| 1.13%, 10/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 415302 |
| 1.38%, 12/18/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 107130 |
| 1.75%, 07/04/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 525<br>| 535795 |
| 2.50%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 449245 |
| 3.25%, 02/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 109417 |
| 4.88%, 05/19/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 524855 |
| 5.13%, 08/29/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 476506 |
| 5.63%, 03/08/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 319<br>| 390321 |
| Iren SpA |  |  |
| 1.00%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 585449 |
| 1.50%, 10/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314500 |
| 1.95%, 09/19/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 107930 |
| Italgas SpA |  |  |
| 0.88%, 04/24/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 430<br>| 413370 |
| 1.63%, 01/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 635089 |
| Leasys SpA, 3.38%, 01/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1293435 |
| Mediobanca Banca di Credito Finanziario SpA |  |  |
| 0.50%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104300 |
| 0.88%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317979 |
| 1.13%, 04/23/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 269262 |
| 1.25%, 11/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 599737 |
| 1.63%, 01/07/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216907 |
| 4.75%, 03/14/28, <br> (3-mo. EURIBOR + 1.370%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 789608 |
| 4.88%, 09/13/27, <br> (3-mo. EURIBOR + 1.450%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 336757 |
| Series 4, 1.38%, 11/10/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 321524 |
| Pirelli & C SpA, 3.88%, 07/02/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 385392 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Poste Italiane SpA, 0.50%, 12/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $292880 |
| Snam SpA |  |  |
| 0.00%, 12/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 467<br>| 448100 |
| 0.88%, 10/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 461<br>| 481958 |
| 1.25%, 06/20/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 176503 |
| 1.38%, 10/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 110<br>| 114556 |
| 3.88%, 02/19/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 659313 |
| Terna - Rete Elettrica Nazionale |  |  |
| 0.38%, 09/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 597657 |
| 1.38%, 07/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 732879 |
| 3.88%, 07/24/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 111541 |
| UniCredit SpA |  |  |
| 0.33%, 01/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 738916 |
| 0.38%, 10/31/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 415978 |
| 0.85%, 01/19/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 93137 |
| 1.80%, 01/20/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 504198 |
| 3.50%, 07/31/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 448460 |
| 3.88%, 06/11/28, <br> (3-mo. EURIBOR + 0.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220997 |
| 4.00%, 03/05/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222501 |
| 4.20%, 06/11/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220395 |
| 4.30%, 01/23/31, <br> (3-mo. EURIBOR + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 337143 |
| 4.45%, 02/16/29, <br> (3-mo. EURIBOR + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 450375 |
| 4.60%, 02/14/30, <br> (3-mo. EURIBOR + 1.500%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 343146 |
| 5.85%, 11/15/27, <br> (3-mo. EURIBOR + 2.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 650<br>| 744140 |
|  |  | 54004609 |
| **Japan — 0.2%** | **Japan — 0.2%** | **Japan — 0.2%** |
| Asahi Group Holdings Ltd., 3.46%, 04/16/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 436266 |
| East Japan Railway Co. |  |  |
| 0.77%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 85979 |
| 1.10%, 09/15/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 235949 |
| 1.16%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 280870 |
| 4.39%, 09/05/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 355938 |
| 4.50%, 01/25/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 359058 |
| JT International Financial Services BV |  |  |
| 1.00%, 11/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 195094 |
| 2.75%, 09/28/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 210986 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 0.85%, 07/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 195600 |
| 4.64%, 06/07/31, <br> (3-mo. EURIBOR + 1.597%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 230832 |
| Mizuho Financial Group Inc. |  |  |
| 0.40%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 459<br>| 437555 |
| 0.80%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 335<br>| 318602 |
| 1.63%, 04/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 788661 |
| 2.10%, 04/08/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 493877 |
| 3.98%, 05/21/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443800 |
| Nissan Motor Co. Ltd., 3.20%, 09/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 158115 |
| NTT Finance Corp. |  |  |
| 0.08%, 12/13/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 406<br>| 428113 |
| 0.34%, 03/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 469279 |
| 0.40%, 12/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 195824 |
| 3.36%, 03/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218316 |
| ORIX Corp., 3.45%, 10/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 751899 |
| Sumitomo Mitsui Banking Corp., 0.41%, <br> 11/07/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 250<br>| 238736 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 0.63%, 10/23/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| $383663 |
| 1.41%, 06/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314236 |
| 1.55%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 247<br>| 262916 |
| 3.32%, 10/07/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1081147 |
| Sumitomo Mitsui Trust Bank Ltd., 0.00%, <br> 10/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 299963 |
| Takeda Pharmaceutical Co. Ltd. |  |  |
| 0.75%, 07/09/27 | &nbsp;&nbsp; EUR<br> 100<br>| 102825 |
| 1.00%, 07/09/29 | &nbsp;&nbsp; EUR<br> 700<br>| 694136 |
| 1.38%, 07/09/32 | &nbsp;&nbsp; EUR<br> 200<br>| 188277 |
| 2.00%, 07/09/40 | &nbsp;&nbsp; EUR<br> 200<br>| 171482 |
| 3.00%, 11/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 375447 |
| Toyota Motor Finance Netherlands BV, 4.00%, <br> 04/02/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 111386 |
|  |  | 11514827 |
| **Jersey — 0.0%** | **Jersey — 0.0%** | **Jersey — 0.0%** |
| Gatwick Funding Ltd., 3.63%, 10/16/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 322559 |
| **Lithuania — 0.0%** | **Lithuania — 0.0%** | **Lithuania — 0.0%** |
| Ignitis Grupe AB |  |  |
| 2.00%, 07/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207937 |
| 2.00%, 05/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 194630 |
|  |  | 402567 |
| **Luxembourg — 0.2%** | **Luxembourg — 0.2%** | **Luxembourg — 0.2%** |
| ArcelorMittal SA, 1.75%, 11/19/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 697054 |
| Aroundtown Finance SARL, 5.00%, (5-year <br> EURIBOR ICE Swap + 2.349%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 88652 |
| Bevco Lux SARL, 1.50%, 09/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 415499 |
| Blackstone Property Partners Europe <br> Holdings SARL<br>|  |  |
| 1.00%, 05/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 198886 |
| 1.75%, 03/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 250757 |
| 3.63%, 10/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215763 |
| 4.88%, 04/29/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 239650 |
| CBRE Global Investors Open-Ended Funds SCA <br> SICAV-SIF-Pan European Core Fund<br>|  |  |
| 0.50%, 01/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 197986 |
| 0.90%, 10/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 382061 |
| Czech Gas Networks Investments SARL, 0.45%, <br> 09/08/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 189461 |
| Eurofins Scientific SE, 4.00%, 07/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 381<br>| 415227 |
| JAB Holdings BV |  |  |
| 1.00%, 12/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 511047 |
| 2.25%, 12/19/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 255684 |
| Series 11Y, 2.50%, 06/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 635736 |
| Logicor Financing SARL |  |  |
| 2.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 275561 |
| 3.25%, 11/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 660<br>| 708280 |
| 4.63%, 07/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 895116 |
| Nestle Finance International Ltd. |  |  |
| 2.63%, 10/28/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1288501 |
| 3.13%, 10/28/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 536598 |
| P3 Group SARL |  |  |
| 0.88%, 01/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 369436 |
| 4.00%, 04/19/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 175<br>| 190929 |
| Prologis International Funding II SA |  |  |
| 0.88%, 07/09/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 290147 |
| 3.13%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 475894 |
| 4.63%, 02/21/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 346721 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Luxembourg (continued)** | **Luxembourg (continued)** | **Luxembourg (continued)** |
| Repsol Europe Finance SARL, 3.63%, <br> 09/05/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| $215596 |
| SELP Finance SARL |  |  |
| 0.88%, 05/27/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 241525 |
| 1.50%, 12/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 262887 |
| SES SA |  |  |
| 0.88%, 11/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 199806 |
| 2.00%, 07/02/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 202323 |
| Shurgard Luxembourg SARL, 3.63%, <br> 10/22/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 213932 |
|  |  | 11406715 |
| **Mexico — 0.0%** | **Mexico — 0.0%** | **Mexico — 0.0%** |
| America Movil SAB de CV |  |  |
| 2.13%, 03/10/28 | &nbsp;&nbsp; EUR<br> 300<br>| 318677 |
| 4.95%, 07/22/33 | &nbsp;&nbsp; GBP<br> 200<br>| 250857 |
| 5.75%, 06/28/30 | &nbsp;&nbsp; GBP<br> 520<br>| 689136 |
|  |  | 1258670 |
| **Netherlands — 1.1%** | **Netherlands — 1.1%** | **Netherlands — 1.1%** |
| ABB Finance BV, 3.38%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 331640 |
| ABN AMRO Bank NV |  |  |
| 0.38%, 01/14/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 169614 |
| 0.40%, 09/17/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 281255 |
| 0.50%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 421614 |
| 0.60%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 619737 |
| 0.63%, 01/24/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 330717 |
| 0.88%, 01/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 426508 |
| 1.00%, 04/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 881551 |
| 1.00%, 06/02/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 361014 |
| 1.13%, 01/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 292057 |
| 1.13%, 04/23/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 168492 |
| 1.25%, 01/10/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 193299 |
| 1.38%, 01/12/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 456137 |
| 1.45%, 04/12/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 449526 |
| 3.00%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211101 |
| 3.38%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 200<br>| 270852 |
| 3.88%, 12/21/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 444914 |
| 4.00%, 01/16/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 223315 |
| 4.25%, 02/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 680026 |
| 4.38%, 07/16/36, (5-year EURIBOR ICE <br> Swap + 1.630%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220080 |
| 4.50%, 11/21/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 467972 |
| 5.50%, 09/21/33, (5-year EURIBOR ICE <br> Swap + 2.450%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 344212 |
| Achmea Bank NV |  |  |
| 0.50%, 02/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317313 |
| 3.00%, 02/07/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219391 |
| 3.13%, 06/11/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220116 |
| Achmea BV |  |  |
| 1.50%, 05/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 334<br>| 351971 |
| 5.63%, 11/02/44, (5-year EURIBOR ICE Swap <br> + 3.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 226960 |
| Aegon Ltd., 6.13%, 12/15/31 | &nbsp;&nbsp; GBP<br> 50<br>| 67150 |
| Akzo Nobel NV |  |  |
| 1.13%, 04/08/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211928 |
| 2.00%, 03/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 492073 |
| Alliander NV |  |  |
| 2.63%, 09/09/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 758071 |
| 3.25%, 06/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 825263 |
| ASML Holding NV |  |  |
| 0.63%, 05/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 340<br>| 335119 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| 1.38%, 07/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| $584428 |
| ASR Nederland NV, 7.00%, 12/07/43, <br> (5-year EUR Swap + 5.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 252386 |
| BNG Bank NV |  |  |
| 0.00%, 08/31/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 395763 |
| 0.00%, 01/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 461262 |
| 0.13%, 04/11/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 526025 |
| 0.13%, 04/19/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 786701 |
| 0.13%, 07/09/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 488850 |
| 0.25%, 01/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 731572 |
| 0.25%, 11/22/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 397630 |
| 0.63%, 06/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,750<br>| 1816378 |
| 0.75%, 01/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 257632 |
| 0.75%, 01/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 390<br>| 393903 |
| 0.81%, 06/28/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 261918 |
| 0.88%, 10/17/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 708170 |
| 0.88%, 10/24/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 446<br>| 384612 |
| 1.00%, 01/12/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213654 |
| 1.38%, 10/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 202252 |
| 1.50%, 07/15/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 284<br>| 252183 |
| 1.60%, 11/27/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 310<br>| 169035 |
| 3.00%, 04/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443460 |
| 3.25%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 130435 |
| 3.30%, 07/17/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 900<br>| 566940 |
| Brenntag Finance BV, 3.88%, 04/24/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 328528 |
| Cooperatieve Rabobank UA |  |  |
| 0.00%, 07/02/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 937072 |
| 0.63%, 04/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211641 |
| 0.63%, 02/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 349645 |
| 0.75%, 03/02/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 567515 |
| 0.75%, 06/21/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 159615 |
| 0.88%, 02/08/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 722685 |
| 0.88%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 608190 |
| 1.25%, 03/23/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 820<br>| 873915 |
| 1.25%, 05/31/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 488051 |
| 1.38%, 02/03/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 610<br>| 653243 |
| 1.50%, 04/26/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 271636 |
| 3.11%, 06/07/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 444263 |
| 3.20%, 05/06/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 668790 |
| 3.88%, 11/30/32, <br> (5-year EUR Swap + 1.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 109652 |
| 4.00%, 01/10/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 451147 |
| 4.23%, 04/25/29, <br> (3-mo. EURIBOR + 1.150%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 1,000<br>| 1125075 |
| 5.25%, 09/14/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 641770 |
| 5.25%, 05/23/41 | &nbsp;&nbsp; GBP<br> 350<br>| 445644 |
| 5.38%, 08/03/60<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 129419 |
| Cooperatieve Rabobank UA/Australia, 5.05%, <br> 02/26/29<br>| &nbsp;&nbsp; AUD<br> 500<br>| 330567 |
| CTP NV |  |  |
| 0.88%, 01/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 422280 |
| 1.25%, 06/21/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 342445 |
| 4.75%, 02/05/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 225474 |
| de Volksbank NV |  |  |
| 0.38%, 09/16/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 139570 |
| 1.00%, 03/08/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206445 |
| 2.38%, 05/04/27, <br> (3-mo. EURIBOR + 1.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 321876 |
| 3.00%, 03/26/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 331209 |
| DSM BV |  |  |
| 1.00%, 04/09/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 470<br>| 506983 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| 3.63%, 07/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $220300 |
| Enexis Holding NV, 0.75%, 07/02/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 725<br>| 679207 |
| Euronext NV, 0.75%, 05/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 372782 |
| EXOR NV |  |  |
| 0.88%, 01/19/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 187714 |
| 1.75%, 01/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 210185 |
| Heineken NV |  |  |
| 1.00%, 05/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 370<br>| 391695 |
| 1.25%, 03/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 367146 |
| 1.75%, 05/07/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 254064 |
| 2.25%, 03/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 575373 |
| 4.13%, 03/23/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 459467 |
| ING Bank NV |  |  |
| 0.75%, 02/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1406974 |
| 0.88%, 04/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 718422 |
| 1.00%, 02/17/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 260204 |
| 2.75%, 01/10/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108839 |
| 3.00%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 662093 |
| 3.00%, 05/21/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220668 |
| ING Groep NV |  |  |
| 0.25%, 02/18/29, <br> (3-mo. EURIBOR + 0.680%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 590532 |
| 0.25%, 02/01/30, <br> (3-mo. EURIBOR + 0.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 573381 |
| 1.00%, 11/16/32, <br> (5-year EUR Swap + 1.150%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 604956 |
| 1.13%, 12/07/28, <br> (1-day SONIA + 0.905%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 400<br>| 458112 |
| 1.25%, 02/16/27, <br> (3-mo. EURIBOR + 0.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 849959 |
| 2.00%, 09/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 312835 |
| 2.13%, 05/26/31, <br> (5-year EUR Swap + 2.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 320008 |
| 2.50%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 624900 |
| 3.75%, 09/03/35, <br> (3-mo. EURIBOR + 1.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 434936 |
| 4.00%, 02/12/35, <br> (3-mo. EURIBOR + 1.779%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 781848 |
| 4.50%, 05/23/29, <br> (3-mo. EURIBOR + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 564959 |
| 5.00%, 02/20/35, (5-year EURIBOR ICE <br> Swap + 2.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 454746 |
| JDE Peet's NV, 1.13%, 06/16/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 449<br>| 396367 |
| JT International Financial Services BV, 3.63%, <br> 04/11/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 430617 |
| Knab NV, 0.38%, 06/09/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 163104 |
| Koninklijke Ahold Delhaize NV |  |  |
| 0.38%, 03/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 94849 |
| 1.75%, 04/02/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 371303 |
| 3.88%, 03/11/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332830 |
| Koninklijke KPN NV |  |  |
| 0.88%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 437606 |
| 3.88%, 02/16/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221679 |
| 5.00%, 11/18/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 387018 |
| 5.75%, 09/17/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 195<br>| 257185 |
| Koninklijke Philips NV |  |  |
| 1.88%, 05/05/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 423326 |
| 2.00%, 03/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 306788 |
| 2.13%, 11/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207292 |
| 3.75%, 05/31/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220555 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| Louis Dreyfus Co. Finance BV |  |  |
| 1.63%, 04/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| $102902 |
| 2.38%, 11/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 648928 |
| Nationale-Nederlanden Bank NV Netherlands <br> (The)<br>|  |  |
| 0.05%, 09/24/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 239071 |
| 0.63%, 09/11/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 640500 |
| 1.00%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 305978 |
| Nederlandse Gasunie NV |  |  |
| 1.38%, 10/16/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 776449 |
| 3.88%, 05/22/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 420<br>| 476106 |
| Nederlandse Waterschapsbank NV |  |  |
| 0.25%, 01/19/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 457409 |
| 0.50%, 04/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 485270 |
| 0.63%, 02/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200393 |
| 1.00%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 620479 |
| 1.25%, 06/07/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 97935 |
| 1.50%, 06/15/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 178475 |
| 1.63%, 01/29/48<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 164387 |
| 3.45%, 07/17/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 300<br>| 189936 |
| NIBC Bank NV |  |  |
| 0.13%, 11/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 370594 |
| 0.13%, 04/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 91537 |
| 1.00%, 09/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 203798 |
| 6.38%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 224583 |
| NN Group NV |  |  |
| 4.63%, 01/13/48, <br> (3-mo. EURIBOR + 4.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 334963 |
| 5.25%, 03/01/43, <br> (3-mo. EURIBOR + 4.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 377<br>| 436188 |
| 6.00%, 11/03/43, <br> (3-mo. EURIBOR + 4.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 120513 |
| Pluxee NV, 3.75%, 09/04/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323780 |
| PostNL NV |  |  |
| 0.63%, 09/23/26 | &nbsp;&nbsp; EUR<br> 200<br>| 207681 |
| 4.75%, 06/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 112243 |
| Royal Schiphol Group NV |  |  |
| 0.88%, 09/08/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 226067 |
| 1.50%, 11/05/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 692283 |
| 2.00%, 04/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 675968 |
| Sandoz Finance BV, 4.50%, 11/17/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 577963 |
| Shell International Finance BV |  |  |
| 0.13%, 11/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 599<br>| 601662 |
| 0.88%, 08/21/28<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 125<br>| 145184 |
| 0.88%, 11/08/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 294634 |
| 1.25%, 05/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 420<br>| 432736 |
| 1.25%, 11/11/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 278727 |
| 1.88%, 04/07/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 360<br>| 354033 |
| Siemens Financieringsmaatschappij NV |  |  |
| 3.00%, 11/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 439003 |
| 3.13%, 05/22/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 329267 |
| Stedin Holding NV, 1.38%, 09/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 614661 |
| TenneT Holding BV |  |  |
| 0.88%, 06/16/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 551070 |
| 1.00%, 06/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 421255 |
| 1.38%, 06/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 659446 |
| 1.50%, 06/03/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 594<br>| 498484 |
| 2.00%, 06/05/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 765657 |
| 2.75%, 05/17/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 568039 |
| 4.50%, 10/28/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 466162 |
| Universal Music Group NV, 4.00%, 06/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 451882 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| Van Lanschot Kempen NV, 0.88%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $208807 |
| Vesteda Finance BV, 2.00%, 07/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 480714 |
| Viterra Finance BV, 1.00%, 09/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300280 |
| Wolters Kluwer NV |  |  |
| 0.75%, 07/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 239365 |
| 1.50%, 03/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 368616 |
|  |  | 73279409 |
| **New Zealand — 0.0%** | **New Zealand — 0.0%** | **New Zealand — 0.0%** |
| ANZ New Zealand International Ltd./London, <br> 0.38%, 09/17/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 193051 |
| ASB Bank Ltd. |  |  |
| 3.19%, 04/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 543364 |
| 4.50%, 03/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 619949 |
| Bank of New Zealand |  |  |
| 0.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 393420 |
| 3.66%, 07/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221254 |
| Westpac Securities NZ Ltd./London |  |  |
| 0.00%, 06/08/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 196878 |
| 0.43%, 12/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 672285 |
|  |  | 2840201 |
| **Niger — 0.1%** | **Niger — 0.1%** | **Niger — 0.1%** |
| Adecco International Financial Services BV, <br> 3.40%, 10/08/32<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 320794 |
| ASML Holding NV, 0.63%, 05/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 205<br>| 202057 |
| BMW International Investment BV, 3.38%, <br> 08/27/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 214816 |
| Deutsche Telekom International Finance BV, <br> 4.50%, 10/28/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 50<br>| 59094 |
| DSV Finance BV, 3.38%, 11/06/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 378397 |
| EXOR NV, 3.75%, 02/14/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 327990 |
| ING Groep NV, 3.50%, 09/03/30, <br> (3-mo. EURIBOR + 1.393%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| 980635 |
| Swisscom Finance BV, 3.25%, 09/05/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216639 |
| Unilever Finance Netherlands BV, 1.75%, <br> 03/25/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 150<br>| 154348 |
| Wintershall Dea Finance BV |  |  |
| 3.83%, 10/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 758432 |
| 4.36%, 10/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 432890 |
|  |  | 4046092 |
| **Norway — 0.3%** | **Norway — 0.3%** | **Norway — 0.3%** |
| Aker BP ASA, 4.00%, 05/29/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218305 |
| DNB Bank ASA |  |  |
| 0.38%, 01/18/28, <br> (3-mo. EURIBOR + 0.320%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 618181 |
| 2.63%, 06/10/26, (1-year UK Government <br> Bond + 1.350%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 550<br>| 698168 |
| 3.63%, 02/16/27, <br> (3-mo. EURIBOR + 0.630%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 639<br>| 700121 |
| 4.00%, 03/14/29, <br> (3-mo. EURIBOR + 0.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 250<br>| 280613 |
| 4.50%, 07/19/28, <br> (3-mo. EURIBOR + 1.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 564343 |
| 4.63%, 02/28/33, <br> (5-year EUR Swap + 2.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 250<br>| 279914 |
| DNB Boligkreditt AS |  |  |
| 0.00%, 10/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 202048 |
| 0.00%, 05/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 496916 |
| 0.25%, 09/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 417148 |
| 0.38%, 11/20/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108630 |
| 0.63%, 01/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 424897 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| 2.88%, 03/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| $549303 |
| 3.13%, 06/05/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 333720 |
| Eika Boligkreditt AS |  |  |
| 0.00%, 03/12/27 | &nbsp;&nbsp; EUR<br> 200<br>| 204944 |
| 0.00%, 03/23/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 498651 |
| 2.88%, 03/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 329085 |
| Equinor ASA |  |  |
| 0.75%, 05/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 474252 |
| 1.38%, 05/22/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 574390 |
| 1.63%, 11/09/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 180190 |
| 4.25%, 04/10/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 390<br>| 440994 |
| 6.88%, 03/11/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 712301 |
| Santander Consumer Bank AS, 0.13%, <br> 02/25/25<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 323113 |
| SpareBank 1 Boligkreditt A/S |  |  |
| 0.05%, 11/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 688327 |
| 0.13%, 05/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 209779 |
| 0.13%, 11/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 287675 |
| 0.13%, 05/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 412444 |
| 0.25%, 08/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208769 |
| 0.50%, 01/30/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 378331 |
| 1.00%, 01/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 813655 |
| 3.00%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219483 |
| SpareBank 1 SMN, 0.00%, 02/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 395482 |
| SpareBank 1 Sor-Norge ASA |  |  |
| 0.38%, 07/15/27, <br> (3-mo. EURIBOR + 0.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 415106 |
| 3.75%, 11/23/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221838 |
| 4.88%, 08/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 344247 |
| Sparebanken Soer Boligkreditt A/S, 0.50%, <br> 02/06/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 211921 |
| Sparebanken Vest Boligkreditt A/S |  |  |
| 0.00%, 11/24/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 529100 |
| 0.50%, 02/12/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 423807 |
| 2.50%, 09/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216991 |
| 3.00%, 07/31/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 551664 |
| SR-Boligkreditt AS |  |  |
| 0.00%, 10/08/26 | &nbsp;&nbsp; EUR<br> 200<br>| 207317 |
| 0.00%, 09/08/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 344316 |
| 0.75%, 10/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 320570 |
| 1.63%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 526856 |
| Statkraft AS, 1.50%, 03/26/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 802588 |
| Storebrand Livsforsikring AS, 1.88%, 09/30/51, <br> (6-mo. EURIBOR + 2.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 92613 |
| Telenor ASA |  |  |
| 0.25%, 02/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 749172 |
| 0.88%, 02/14/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 596<br>| 512940 |
| 4.00%, 10/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 739778 |
|  |  | 20454996 |
| **Poland — 0.0%** | **Poland — 0.0%** | **Poland — 0.0%** |
| Powszechna Kasa Oszczednosci Bank <br> Polski SA, 4.50%, 06/18/29, <br> (3-mo. EURIBOR + 1.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 333349 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| Banco Comercial Portugues SA, 3.13%, <br> 10/21/29, (3-mo. EURIBOR + 0.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 648166 |
| Banco Santander Totta SA |  |  |
| 1.25%, 09/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 313267 |
| 3.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 887558 |
| 3.38%, 04/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221406 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Portugal (continued)** | **Portugal (continued)** | **Portugal (continued)** |
| Caixa Geral de Depositos SA, 0.38%, 09/21/27, <br> (1-year EUR Swap + 0.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| $413050 |
| EDP Finance BV |  |  |
| 0.38%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 602<br>| 623415 |
| 0.38%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 155336 |
| 1.88%, 10/13/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215544 |
| 1.88%, 09/21/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 308585 |
| EDP Servicios Financieros Espana SA |  |  |
| 4.38%, 04/04/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 345093 |
| 4.38%, 04/04/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 230062 |
| Fidelidade - Cia. de Seguros SA/Portugal, <br> 4.25%, 09/04/31, <br> (5-year EUR Swap + 4.488%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 322495 |
| Ren Finance BV |  |  |
| 0.50%, 04/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 193810 |
| 1.75%, 01/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104372 |
|  |  | 4982159 |
| **Romania — 0.0%** | **Romania — 0.0%** | **Romania — 0.0%** |
| NE Property BV, 3.38%, 07/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 225<br>| 243019 |
| Societatea Nationala de Gaze Naturale <br> ROMGAZ SA, 4.75%, 10/07/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 219262 |
|  |  | 462281 |
| **Samoa — 0.0%** | **Samoa — 0.0%** | **Samoa — 0.0%** |
| CA Immobilien Anlagen AG, 4.25%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 324204 |
| Erste Group Bank AG, 4.00%, 01/15/35, (5-year <br> EURIBOR ICE Swap + 1.700%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 1,100<br>| 1187730 |
| OMV AG, 3.75%, 09/04/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108062 |
| Volksbank Wien AG, 5.50%, 12/04/35, (5-year <br> EURIBOR ICE Swap + 3.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 327606 |
|  |  | 1947602 |
| **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** |
| Gaci First Investment Co., 5.63%, 06/11/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 382880 |
| **Singapore — 0.0%** | **Singapore — 0.0%** | **Singapore — 0.0%** |
| Temasek Financial I Ltd. |  |  |
| 0.50%, 11/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 545440 |
| 3.50%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 444679 |
| United Overseas Bank Ltd. |  |  |
| 0.00%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 325<br>| 324910 |
| 0.50%, 01/16/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 230<br>| 248843 |
|  |  | 1563872 |
| **Slovakia — 0.0%** | **Slovakia — 0.0%** | **Slovakia — 0.0%** |
| Slovenska Sporitelna AS, 0.13%, 06/12/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208167 |
| Tatra Banka A/S, 4.97%, 04/29/30, <br> (3-mo. EURIBOR + 2.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 450820 |
| Vseobecna Uverova Banka AS |  |  |
| 3.25%, 03/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220259 |
| 3.50%, 10/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 330034 |
|  |  | 1209280 |
| **Slovenia — 0.0%** | **Slovenia — 0.0%** | **Slovenia — 0.0%** |
| Maybank Singapore Ltd., 3.44%, 06/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332978 |
| Standard Chartered Bank Singapore Ltd., <br> 3.32%, 05/28/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 350<br>| 386939 |
|  |  | 719917 |
| **South Africa — 0.0%** | **South Africa — 0.0%** | **South Africa — 0.0%** |
| Anglo American Capital PLC, 4.75%, 09/21/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 579176 |
| **Spain — 0.7%** | **Spain — 0.7%** | **Spain — 0.7%** |
| Abanca Corp. Bancaria SA, 5.88%, 04/02/30, <br> (1-year EUR Swap + 2.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 593743 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Abertis Infraestructuras SA |  |  |
| 1.00%, 02/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $312455 |
| 1.25%, 02/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 306150 |
| 1.38%, 05/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 424690 |
| 1.63%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 302992 |
| 1.88%, 03/26/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 97373 |
| 2.25%, 03/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 417379 |
| 2.38%, 09/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212778 |
| 3.00%, 03/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212392 |
| Acciona Energia Financiacion Filiales SA, <br> 5.13%, 04/23/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 578528 |
| Aena SME SA, 4.25%, 10/13/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 342228 |
| Amadeus IT Group SA, 3.50%, 03/21/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 551217 |
| Banco Bilbao Vizcaya Argentaria SA |  |  |
| 0.38%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 621152 |
| 0.88%, 11/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 630376 |
| 0.88%, 01/14/29, <br> (3-mo. EURIBOR + 0.820%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 608224 |
| 1.75%, 11/26/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 753073 |
| 3.50%, 02/10/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 658345 |
| 3.63%, 06/07/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 554890 |
| 3.88%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 336222 |
| 4.88%, 02/08/36, (5-year EURIBOR ICE <br> Swap + 2.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 561545 |
| Banco de Sabadell SA |  |  |
| 0.13%, 02/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 399299 |
| 1.00%, 04/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 417215 |
| 3.25%, 06/05/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 556779 |
| 4.00%, 01/15/30, <br> (1-year EUR Swap + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 670946 |
| 5.00%, 06/07/29, <br> (1-year EUR Swap + 2.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 230510 |
| Banco Santander SA |  |  |
| 0.10%, 02/27/32 | &nbsp;&nbsp; EUR<br> 400<br>| 355134 |
| 0.13%, 06/04/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 467308 |
| 0.25%, 07/10/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 193498 |
| 0.30%, 10/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 828900 |
| 0.50%, 03/24/27, <br> (3-mo. EURIBOR + 0.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 630051 |
| 0.63%, 06/24/29, <br> (1-year EUR Swap + 0.780%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 795602 |
| 0.88%, 05/09/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 575230 |
| 1.13%, 11/27/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217277 |
| 1.13%, 10/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 510634 |
| 1.50%, 01/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 428829 |
| 1.63%, 10/22/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 582790 |
| 2.00%, 11/27/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 99707 |
| 2.13%, 02/08/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 944098 |
| 2.38%, 09/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 539820 |
| 3.75%, 01/09/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 666079 |
| 3.88%, 01/16/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 557064 |
| 3.88%, 04/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332928 |
| 4.25%, 06/12/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 457695 |
| 4.75%, 08/30/28, (1-year UK Government <br> Bond + 2.500%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 600<br>| 766485 |
| 4.88%, 10/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 351806 |
| 5.50%, 06/11/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 647597 |
| Bankinter SA |  |  |
| 0.63%, 10/06/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 506950 |
| 1.00%, 02/05/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216263 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| 1.25%, 12/23/32, <br> (5-year EUR Swap + 1.450%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| $203402 |
| 3.05%, 05/29/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 328081 |
| CaixaBank SA |  |  |
| 0.75%, 07/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 210061 |
| 0.75%, 05/26/28, <br> (3-mo. EURIBOR + 1.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| 924528 |
| 1.00%, 09/25/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 213972 |
| 1.00%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 412426 |
| 1.13%, 03/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 956228 |
| 1.25%, 01/11/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 422253 |
| 1.25%, 06/18/31, <br> (5-year EUR Swap + 1.630%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 315355 |
| 1.50%, 12/03/26, (1-year UK Government <br> Bond + 1.320%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 400<br>| 495597 |
| 1.63%, 07/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 297740 |
| 3.63%, 09/19/32, <br> (3-mo. EURIBOR + 1.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 433547 |
| 4.00%, 02/03/25 | &nbsp;&nbsp; EUR<br> 300<br>| 326930 |
| 4.13%, 03/24/36 | &nbsp;&nbsp; EUR<br> 300<br>| 358260 |
| 4.25%, 09/06/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 801729 |
| 4.38%, 11/29/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 466150 |
| 6.13%, 05/30/34, <br> (5-year EUR Swap + 3.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 705036 |
| 6.25%, 02/23/33, <br> (5-year EUR Swap + 3.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 116384 |
| Cellnex Finance Co. SA |  |  |
| 1.00%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 205218 |
| 1.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 400174 |
| 2.00%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 572942 |
| El Corte Ingles SA, 4.25%, 06/26/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222677 |
| Enagas Financiaciones SA |  |  |
| 0.75%, 10/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 624234 |
| 1.38%, 05/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 411535 |
| FCC Aqualia SA, 2.63%, 06/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 268122 |
| FCC Servicios Medio Ambiente Holding SA |  |  |
| 1.66%, 12/04/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105643 |
| 3.72%, 10/08/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 647566 |
| Ferrovial Emisiones SA |  |  |
| 1.38%, 03/31/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215807 |
| 1.38%, 05/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 318701 |
| Iberdrola Finanzas SA |  |  |
| 1.38%, 03/11/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 191656 |
| 1.58%, (5-year EUR Swap + 1.676%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 610979 |
| 1.62%, 11/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206022 |
| 3.63%, 07/13/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 664935 |
| 3.63%, 07/18/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443340 |
| Iberdrola International BV |  |  |
| Series NC8, 2.25%, <br> (5-year EUR Swap + 2.574%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 303482 |
| Series NC9, 1.83%, <br> (5-year EUR Swap + 2.049%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 195566 |
| Inmobiliaria Colonial Socimi SA, 0.75%, <br> 06/22/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 193914 |
| Inmobiliaria Colonial SOCIMI SA |  |  |
| 1.35%, 10/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 101066 |
| 2.00%, 04/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 321335 |
| Liberbank SA, 0.25%, 09/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 286247 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Mapfre SA |  |  |
| 1.63%, 05/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $319691 |
| 4.38%, 03/31/47, <br> (3-mo. EURIBOR + 4.543%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 441233 |
| Merlin Properties SOCIMI SA |  |  |
| 1.75%, 05/26/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 105<br>| 113408 |
| 1.88%, 11/02/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 325<br>| 345963 |
| 1.88%, 12/04/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 183213 |
| Naturgy Finance Iberia SA |  |  |
| 1.25%, 04/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 318513 |
| 1.50%, 01/29/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 622078 |
| 3.63%, 10/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106797 |
| NorteGas Energia Distribucion SAU, 2.07%, <br> 09/28/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 209192 |
| Programa Cedulas TDA Fondo de Titulizacion <br> de Activos<br>|  |  |
| 4.25%, 03/28/27 | &nbsp;&nbsp; EUR<br> 300<br>| 337922 |
| Series A6, 4.25%, 04/10/31 | &nbsp;&nbsp; EUR<br> 700<br>| 824620 |
| Red Electrica Financiaciones SA |  |  |
| 1.00%, 04/21/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 318274 |
| 3.00%, 01/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211964 |
| Redeia Corp. SA |  |  |
| 0.88%, 04/14/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 322986 |
| 3.38%, 07/09/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216631 |
| Redexis SA, 4.38%, 05/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219770 |
| Repsol Europe Finance SARL, 0.88%, <br> 07/06/33<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 439726 |
| Repsol International Finance BV, 0.25%, <br> 08/02/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 606117 |
| Santander Consumer Finance SA |  |  |
| 0.50%, 01/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 412406 |
| 3.75%, 01/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 333427 |
| Telefonica Emisiones SA |  |  |
| 1.20%, 08/21/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 520017 |
| 1.46%, 04/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 319985 |
| 1.53%, 01/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216864 |
| 1.72%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 524908 |
| 1.79%, 03/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206965 |
| 1.81%, 05/21/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 777820 |
| 1.96%, 07/01/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 125<br>| 107883 |
| 2.32%, 10/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106309 |
| 2.93%, 10/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 433975 |
| 4.06%, 01/24/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 448685 |
|  |  | 49088428 |
| **Supranational — 0.5%** | **Supranational — 0.5%** | **Supranational — 0.5%** |
| Asian Development Bank |  |  |
| 1.40%, 02/06/37 | &nbsp;&nbsp; EUR<br> 200<br>| 184813 |
| 2.55%, 01/10/31 | &nbsp;&nbsp; EUR<br> 500<br>| 541609 |
| 4.50%, 06/20/30 | &nbsp;&nbsp; AUD<br> 1,160<br>| 753876 |
| 5.13%, 10/24/28 | &nbsp;&nbsp; GBP<br> 1,000<br>| 1320324 |
| Asian Infrastructure Investment Bank (The), <br> 4.00%, 07/22/27<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 1,000<br>| 1272548 |
| Athora Holding Ltd., 6.63%, 06/16/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 234412 |
| Council of Europe Development Bank |  |  |
| 0.00%, 01/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 650614 |
| 0.38%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 368612 |
| 0.75%, 01/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206397 |
| 2.63%, 01/11/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 538822 |
| 2.88%, 04/13/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1105870 |
| European Financial Stability Facility |  |  |
| 0.88%, 09/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 715584 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Supranational (continued)** | **Supranational (continued)** | **Supranational (continued)** |
| 3.00%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,100<br>| $2320572 |
| 3.38%, 08/30/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,300<br>| 1460232 |
| European Investment Bank |  |  |
| 2.75%, 07/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,450<br>| 1586062 |
| 2.75%, 01/16/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,686<br>| 1815709 |
| 3.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,500<br>| 1658976 |
| 3.00%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 680<br>| 751783 |
| 3.88%, 04/12/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 126817 |
| 4.20%, 08/21/28 | &nbsp;&nbsp; AUD<br> 1,000<br>| 652664 |
| 4.88%, 12/16/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 658893 |
| European Stability Mechanism |  |  |
| 3.00%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1105277 |
| 3.00%, 08/23/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,198<br>| 1328134 |
| European Union, 3.38%, 10/04/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,586<br>| 2875388 |
| Inter-American Development Bank |  |  |
| 0.50%, 09/15/26 | &nbsp;&nbsp; GBP<br> 300<br>| 358383 |
| 4.00%, 12/17/29 | &nbsp;&nbsp; GBP<br> 357<br>| 451378 |
| 4.70%, 10/03/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 400<br>| 263132 |
| International Bank for Reconstruction & <br> Development<br>|  |  |
| 0.00%, 01/15/27 | &nbsp;&nbsp; EUR<br> 500<br>| 515977 |
| 0.00%, 04/24/28 | &nbsp;&nbsp; EUR<br> 300<br>| 299883 |
| 0.10%, 09/17/35 | &nbsp;&nbsp; EUR<br> 600<br>| 487321 |
| 1.20%, 08/08/34 | &nbsp;&nbsp; EUR<br> 1,000<br>| 942039 |
| 3.10%, 04/14/38 | &nbsp;&nbsp; EUR<br> 300<br>| 331303 |
| 3.45%, 09/13/38 | &nbsp;&nbsp; EUR<br> 850<br>| 974663 |
| 4.88%, 08/15/30 | &nbsp;&nbsp; GBP<br> 500<br>| 659755 |
| International Development Association, 3.20%, <br> 01/18/44<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 546915 |
| International Finance Corp., 4.50%, 10/02/28 | &nbsp;&nbsp; GBP<br> 1,000<br>| 1291852 |
| Nordic Investment Bank |  |  |
| 2.50%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 325717 |
| 2.63%, 01/24/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 430<br>| 468533 |
| PartnerRe Ireland Finance DAC, 1.25%, <br> 09/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 315440 |
|  |  | 32466279 |
| **Sweden — 0.7%** | **Sweden — 0.7%** | **Sweden — 0.7%** |
| Akelius Residential Property Financing BV |  |  |
| 0.75%, 02/22/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 184399 |
| 1.00%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 299167 |
| Alfa Laval Treasury International AB, 1.38%, <br> 02/18/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 202323 |
| Assa Abloy AB, 4.13%, 09/13/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 230839 |
| Atlas Copco AB, 0.63%, 08/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208883 |
| Balder Finland OYJ |  |  |
| 1.00%, 01/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 194053 |
| 2.00%, 01/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 381288 |
| Castellum Helsinki Finance Holding Abp, 0.88%, <br> 09/17/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 283109 |
| Danske Hypotek AB |  |  |
| 3.50%, 12/20/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 8,000<br>| 778297 |
| Series 2512, 1.00%, 12/17/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 6,000<br>| 554678 |
| EQT AB, 2.88%, 04/06/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 305436 |
| Essity AB, 0.25%, 02/08/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 285676 |
| Fastighets AB Balder |  |  |
| 1.13%, 01/29/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 259050 |
| 1.25%, 01/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 100515 |
| H&M Finance BV, 0.25%, 08/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 140909 |
| Heimstaden Bostad Treasury BV |  |  |
| 1.00%, 04/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 247560 |
| 1.38%, 03/03/27 | &nbsp;&nbsp; EUR<br> 300<br>| 309953 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| 1.63%, 10/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $275039 |
| Hemso Treasury OYJ, 0.00%, 01/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 117<br>| 114636 |
| Investor AB |  |  |
| 1.50%, 09/12/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 200239 |
| 1.50%, 06/20/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 166124 |
| Lansforsakringar Bank AB, 3.75%, 01/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 442652 |
| Lansforsakringar Hypotek AB |  |  |
| 0.00%, 09/27/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 491331 |
| 0.50%, 09/20/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 6,000<br>| 521422 |
| 0.63%, 03/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215480 |
| 3.00%, 09/19/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 18,000<br>| 1715588 |
| Series 519, 1.50%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 6,000<br>| 554870 |
| Molnlycke Holding AB, 4.25%, 06/11/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 226205 |
| Nordea Hypotek AB |  |  |
| 0.50%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,000<br>| 363139 |
| 1.00%, 09/17/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 10,000<br>| 926885 |
| 3.50%, 09/20/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,000<br>| 388775 |
| Series 5537, 1.00%, Series 5537, 06/16/27<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 18,000<br>| 1631565 |
| Series 5539, 3.50%, Series 5539, 10/26/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 10,000<br>| 974729 |
| Sagax Euro Mtn NL BV, 0.75%, 01/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 299653 |
| Sandvik AB, 0.38%, 11/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 292996 |
| Securitas AB, 0.25%, 02/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 296619 |
| Skandinaviska Enskilda Banken AB |  |  |
| 0.38%, 02/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 634780 |
| 0.38%, 06/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 592195 |
| 0.63%, 11/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 383480 |
| 0.75%, 06/28/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 518562 |
| 1.00%, 12/19/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,000<br>| 344891 |
| 1.75%, 11/11/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 639507 |
| 3.00%, 11/06/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 2,000<br>| 190945 |
| 3.00%, 12/06/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 10,000<br>| 953110 |
| 3.25%, 05/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443793 |
| 3.88%, 05/09/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 337047 |
| 4.00%, 11/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443244 |
| 4.50%, 11/27/34, (5-year EURIBOR ICE Swap <br> + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 111905 |
| Series 579, 1.00%, 12/18/24<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 8,000<br>| 748947 |
| Series 580, 1.00%, 12/17/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,000<br>| 369812 |
| Series 581, 0.50%, Series 581, 12/16/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,000<br>| 361508 |
| SKF AB, 0.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 379029 |
| Stadshypotek AB |  |  |
| 0.00%, 11/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 391828 |
| 0.00%, 09/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 370347 |
| 0.13%, 10/05/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207719 |
| 0.38%, 12/06/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217009 |
| 2.50%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 8,000<br>| 752842 |
| 3.63%, 06/20/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,000<br>| 390230 |
| Series 1589, 1.50%, 12/03/24<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 6,000<br>| 562414 |
| Series 1590, 1.00%, 09/03/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 2,000<br>| 185479 |
| Series 1591, 0.50%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 10,000<br>| 912554 |
| Series 1592, 1.00%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 14,000<br>| 1274697 |
| Series 1594, 2.00%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 10,000<br>| 921044 |
| Series 1595, 4.00%, Series 1595, 05/02/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 50,000<br>| 4964492 |
| Svenska Handelsbanken AB |  |  |
| 0.05%, 09/06/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 292996 |
| 1.00%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 538512 |
| 1.38%, 02/23/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 556821 |
| 2.63%, 09/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 429878 |
| 3.25%, 06/01/33, <br> (5-year EUR Swap + 1.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 107306 |
| 3.38%, 02/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 552290 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| 3.75%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $336481 |
| Sveriges Sakerstallda Obligationer AB |  |  |
| 0.00%, 03/14/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 943549 |
| 0.38%, 06/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 245466 |
| 0.50%, 01/29/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216236 |
| 0.88%, 03/29/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 470510 |
| 2.00%, 06/17/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 5,000<br>| 466977 |
| Series 148, 0.25%, 06/09/27<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 24,000<br>| 2134411 |
| Swedbank AB |  |  |
| 0.30%, 05/20/27, <br> (1-year EUR Swap + 0.570%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 730345 |
| 1.38%, 12/08/27, (1-year UK Government <br> Bond + 1.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 400<br>| 478581 |
| 2.10%, 05/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 535331 |
| 4.25%, 07/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1131713 |
| Swedbank Hypotek AB |  |  |
| 0.50%, 02/05/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 529796 |
| 1.00%, 06/18/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 8,600<br>| 799330 |
| 1.00%, 03/18/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,000<br>| 368831 |
| 1.00%, 03/17/27<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 12,000<br>| 1091930 |
| 1.38%, 05/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 527519 |
| 3.00%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 2,000<br>| 191001 |
| 3.13%, 07/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 497249 |
| Series 199, 3.00%, Series 199, 03/28/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 10,000<br>| 953964 |
| Tele2 AB, 2.13%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 225<br>| 235984 |
| Telefonaktiebolaget LM Ericsson, 1.13%, <br> 02/08/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 726693 |
| Telia Co. AB |  |  |
| 1.38%, 05/11/81, <br> (5-year EUR Swap + 1.724%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 105179 |
| 2.13%, 02/20/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 394919 |
| 2.75%, 06/30/83, <br> (5-year EUR Swap + 1.946%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 313008 |
| Vattenfall AB |  |  |
| 0.13%, 02/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 289740 |
| 6.88%, 04/15/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 360<br>| 520880 |
| Volvo Treasury AB, 2.00%, 08/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317256 |
|  |  | 51698174 |
| **Switzerland — 0.8%** | **Switzerland — 0.8%** | **Switzerland — 0.8%** |
| ABB Finance BV, 0.00%, 01/19/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 93370 |
| Adecco International Financial Services BV |  |  |
| 1.00%, 03/21/82, <br> (5-year EUR Swap + 1.390%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 201393 |
| 1.25%, 11/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 225<br>| 223714 |
| Argentum Netherlands BV for Givaudan SA, <br> 2.00%, 09/17/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 408968 |
| Argentum Netherlands BV for Zurich Insurance <br> Co. Ltd.<br>|  |  |
| 2.75%, 02/19/49, <br> (3-mo. EURIBOR + 3.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 104716 |
| 3.50%, 10/01/46, <br> (3-mo. EURIBOR + 3.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 217744 |
| Cloverie PLC for Zurich Insurance Co. Ltd., <br> 1.50%, 12/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 250<br>| 257753 |
| ELM BV for Swiss Life Insurance & Pension <br> Group, 4.50%, <br> (3-mo. EURIBOR + 5.100%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 332207 |
| Firmenich Productions Participations SAS, <br> 1.75%, 04/30/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 350<br>| 354561 |
| Helvetia Europe SA, 2.75%, 09/30/41, <br> (5-year EUR Swap + 3.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 99016 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Holcim Finance Luxembourg SA |  |  |
| 0.50%, 09/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $184137 |
| 0.50%, 04/23/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 675298 |
| 0.63%, 04/06/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 235871 |
| 2.25%, 05/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 318903 |
| IWG U.S. Finance LLC, 6.50%, 06/28/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 229752 |
| Lunar Funding V for Swisscom AG, 1.13%, <br> 10/12/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 710<br>| 750395 |
| Novartis Finance SA |  |  |
| 0.63%, 09/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 707883 |
| 1.38%, 08/14/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 520<br>| 521489 |
| Pfandbriefbank schweizerischer <br> Hypothekarinstitute AG<br>|  |  |
| 0.00%, 02/25/28<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 600<br>| 677973 |
| 0.00%, 02/26/30<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,900<br>| 2107803 |
| 0.00%, 05/10/45<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,950<br>| 1840172 |
| 0.00%, 08/26/49<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,200<br>| 1093563 |
| 0.13%, 09/23/32<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 200<br>| 218329 |
| 0.25%, 10/06/42<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 400<br>| 405862 |
| 2.00%, 03/03/33<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 100<br>| 126414 |
| 2.00%, 04/02/38<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 400<br>| 522444 |
| Series 640, 0.38%, 09/23/43<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 200<br>| 206550 |
| Series 675, 0.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 2,700<br>| 3067798 |
| Series 682, 0.00%, 04/06/27<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,200<br>| 1365731 |
| Series 691, 0.25%, 03/15/41<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 200<br>| 205172 |
| Series 695, 0.00%, 10/26/29<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,800<br>| 2004024 |
| Series 696, 0.13%, 11/19/32<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 500<br>| 544990 |
| Series 697, 0.00%, 05/20/41<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,800<br>| 1764180 |
| Series 700, 0.13%, 03/19/31<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 300<br>| 331937 |
| Pfandbriefzentrale der schweizerischen <br> Kantonalbanken AG<br>|  |  |
| 0.00%, 03/13/28<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 800<br>| 903478 |
| 0.00%, 04/02/31<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 300<br>| 329188 |
| 1.85%, 11/26/38<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 500<br>| 643239 |
| Series 483, 0.00%, 01/27/27<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 2,500<br>| 2848655 |
| Series 515, 0.10%, 12/03/31<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 500<br>| 548800 |
| Series 519, 0.13%, 04/23/32<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 400<br>| 438173 |
| Series 524, 0.00%, 06/21/28<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 200<br>| 225366 |
| Series 526, 0.00%, 07/19/30<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,200<br>| 1326453 |
| Series 528, 0.00%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 2,200<br>| 2439802 |
| Series 529, 0.00%, 02/05/29<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,500<br>| 1681040 |
| Series 530, 0.00%, 03/18/33<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 2,200<br>| 2363063 |
| Series 531, 0.00%, 02/15/36<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,600<br>| 1664743 |
| Richemont International Holding SA |  |  |
| 1.13%, 05/26/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 282881 |
| 1.50%, 03/26/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 710<br>| 715905 |
| Sika Capital BV |  |  |
| 1.50%, 04/29/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 293650 |
| 3.75%, 05/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 279000 |
| Swiss Re Finance Luxembourg SA, 2.53%, <br> 04/30/50, (1-year EURIBOR ICE Swap + <br> 2.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 205545 |
| Swisscom Finance BV, 3.50%, 11/29/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 333203 |
| Syngenta Finance NV, 3.38%, 04/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 596720 |
| UBS AG/London |  |  |
| 0.00%, 03/31/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 209030 |
| 0.25%, 01/05/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 421518 |
| 0.50%, 03/31/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 822842 |
| 5.50%, 08/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 738312 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| UBS Group AG |  |  |
| 0.25%, 11/03/26, <br> (1-year EUR Swap + 0.480%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| $951038 |
| 0.25%, 11/05/28, <br> (1-year EUR Swap + 0.770%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 596896 |
| 0.63%, 01/18/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 547<br>| 469284 |
| 0.63%, 02/24/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 171559 |
| 0.65%, 01/14/28, (1-year EURIBOR ICE <br> Swap + 0.770%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 550<br>| 565435 |
| 1.00%, 06/24/27, (1-year EURIBOR ICE <br> Swap + 1.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 880<br>| 925463 |
| 1.88%, 11/03/29, <br> (1-day SONIA + 0.960%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 226870 |
| 2.13%, 11/15/29, (1-year UK Government <br> Bond + 1.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 228736 |
| 2.75%, 06/15/27, (1-year EURIBOR ICE <br> Swap + 1.150%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 432724 |
| 2.88%, 04/02/32, <br> (1-year EUR Swap + 1.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 521055 |
| 7.00%, 09/30/27, (1-year UK Government <br> Bond + 4.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 600<br>| 795163 |
| 7.75%, 03/01/29, (1-year EURIBOR ICE <br> Swap + 4.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 741211 |
| UBS Switzerland AG |  |  |
| 0.00%, 10/31/30<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 460<br>| 505042 |
| 3.15%, 06/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221919 |
| 3.30%, 03/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 445080 |
| Zuercher Kantonalbank |  |  |
| 0.00%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208500 |
| 0.05%, 02/05/31<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 500<br>| 548993 |
| 4.16%, 06/08/29, (1-year EURIBOR ICE <br> Swap + 1.150%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 673122 |
| Zurich Finance Ireland Designated Activity Co. |  |  |
| 1.63%, 06/17/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 172160 |
| 5.13%, 11/23/52, (5-year UK Government <br> Bond + 4.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 368741 |
|  |  | 52479709 |
| **United Arab Emirates — 0.0%** | **United Arab Emirates — 0.0%** | **United Arab Emirates — 0.0%** |
| DP World Ltd./United Arab Emirates, 4.25%, <br> 09/25/30<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 350<br>| 429520 |
| Emirates Telecommunications Group Co. PJSC, <br> 2.75%, 06/18/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 650685 |
| First Abu Dhabi Bank PJSC, 0.13%, 02/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 730357 |
| MDGH GMTN RSC Ltd., 6.88%, 03/14/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 132172 |
|  |  | 1942734 |
| **United Kingdom — 1.7%** | **United Kingdom — 1.7%** | **United Kingdom — 1.7%** |
| 3i Group PLC, 3.75%, 06/05/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 197719 |
| Affinity Sutton Capital Markets PLC, 4.25%, <br> 10/08/42<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 106826 |
| Affinity Water Finance 2004 PLC, 5.88%, <br> 07/13/26<br>| &nbsp;&nbsp; GBP<br> 150<br>| 191907 |
| Affordable Housing Finance PLC |  |  |
| 2.89%, 08/11/45<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 517985 |
| 3.80%, 05/20/44<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 109391 |
| Anglian Water Osprey Financing PLC, 4.00%, <br> 03/08/26<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 241845 |
| Anglian Water Services Financing PLC |  |  |
| 2.75%, 10/26/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 452861 |
| 4.50%, 02/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 350<br>| 444599 |
| 6.00%, 06/20/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 252710 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 6.25%, 09/12/44<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| $253279 |
| Annington Funding PLC |  |  |
| 3.18%, 07/12/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 240<br>| 275819 |
| 3.69%, 07/12/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 423403 |
| 3.94%, 07/12/47<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 271830 |
| Aspire Defence Finance PLC, Series B, 4.67%, <br> 03/31/40<br>| &nbsp;&nbsp; GBP<br> 314<br>| 381428 |
| Associated British Foods PLC, 2.50%, <br> 06/16/34<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 207389 |
| Assura Financing PLC, 3.00%, 07/19/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 237402 |
| Aster Treasury PLC, 4.50%, 12/18/43<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 280713 |
| AstraZeneca PLC, 0.38%, 06/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 509<br>| 496265 |
| Aviva PLC |  |  |
| 1.88%, 11/13/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 266<br>| 281076 |
| 5.13%, 06/04/50, <br> (1-day SONIA + 4.022%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 400<br>| 494377 |
| 6.88%, 05/20/58, <br> (1-day SONIA + 3.379%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 262469 |
| Babcock International Group PLC, 1.38%, <br> 09/13/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 225<br>| 231905 |
| Bank of Scotland PLC, 4.88%, 12/20/24 | &nbsp;&nbsp; GBP<br> 125<br>| 161064 |
| Barclays PLC |  |  |
| 0.58%, 08/09/29, <br> (1-year EUR Swap + 1.260%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 785642 |
| 1.13%, 03/22/31, <br> (5-year EUR Swap + 1.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 314803 |
| 2.17%, 06/23/27<sup>(a)(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 139312 |
| 3.25%, 02/12/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 679383 |
| 3.25%, 01/17/33 | &nbsp;&nbsp; GBP<br> 700<br>| 759639 |
| 4.35%, 05/08/35, (1-year EURIBOR ICE <br> Swap + 1.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 447132 |
| 4.97%, 05/31/36, (5-year EURIBOR ICE <br> Swap + 2.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 223758 |
| 5.26%, 01/29/34, <br> (1-year EUR Swap + 2.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 714742 |
| 7.09%, 11/06/29, <br> (1-year GBP Swap + 2.553%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 600<br>| 816353 |
| BAT International Finance PLC |  |  |
| 2.25%, 01/16/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 776<br>| 798439 |
| 4.13%, 04/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 659390 |
| 6.00%, 11/24/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 387448 |
| BAT Netherlands Finance BV, 3.13%, <br> 04/07/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 437121 |
| BG Energy Capital PLC |  |  |
| 5.00%, 11/04/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 126440 |
| 5.13%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 708874 |
| Blend Funding PLC, Series ETMN, 3.46%, <br> 09/21/49<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 91781 |
| BP Capital Markets BV, 4.32%, 05/12/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227934 |
| BP Capital Markets PLC |  |  |
| 1.10%, 11/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 256958 |
| 1.23%, 05/08/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 573575 |
| 1.57%, 02/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 435<br>| 460925 |
| 1.59%, 07/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 569349 |
| 1.95%, 03/03/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 270765 |
| 2.82%, 04/07/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 190<br>| 198174 |
| 3.25%, (5-year EUR Swap + 3.520%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 431811 |
| 3.63%, (5-year EUR Swap + 3.780%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 480921 |
| 4.25%, (5-year UK Government Bond + <br> 3.887%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; GBP<br> 650<br>| 809161 |
| Series MPLE, 3.47%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 215101 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| British Telecommunications PLC |  |  |
| 1.75%, 03/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 490<br>| $523777 |
| 2.13%, 09/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317078 |
| 3.13%, 11/21/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 337905 |
| 3.38%, 08/30/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 490502 |
| 4.25%, 01/06/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 229599 |
| 6.38%, 06/23/37<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 406699 |
| Broadgate Financing PLC, Series C2, 5.10%, <br> 04/05/35<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 107<br>| 128385 |
| Bunzl Finance PLC |  |  |
| 1.50%, 10/30/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 159435 |
| 3.38%, 04/09/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 214989 |
| BUPA Finance PLC, 4.13%, 06/14/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 214727 |
| Burberry Group PLC, 5.75%, 06/20/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 246082 |
| Cadent Finance PLC |  |  |
| 2.13%, 09/22/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 463936 |
| 3.13%, 03/21/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 366764 |
| 4.25%, 07/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 338900 |
| Cardiff University, 3.00%, 12/07/55<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 83030 |
| Catalyst Housing Ltd., 3.13%, 10/31/47<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 84740 |
| CCEP Finance Ireland DAC |  |  |
| 0.50%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 425<br>| 408778 |
| 0.88%, 05/06/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 265941 |
| 1.50%, 05/06/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 79759 |
| Centrica PLC, 7.00%, 09/19/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 245<br>| 346982 |
| Chancellor Masters & Scholars of The University <br> of Cambridge (The), 2.35%, 06/27/78<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 67124 |
| Channel Link Enterprises Finance PLC, <br> Series A5, 3.04%, 06/30/50, <br> (1-day SONIA + 0.276%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 250<br>| 285094 |
| Church Commissioners for England, 3.63%, <br> 07/14/52<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 95621 |
| Circle Anglia Social Housing PLC, 7.25%, <br> 11/12/38<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 250<br>| 370594 |
| Citizen Treasury PLC, 3.25%, 10/20/48<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 86664 |
| CK Hutchison Europe Finance 18 Ltd., 1.25%, <br> 04/13/25<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 305<br>| 328745 |
| CK Hutchison Europe Finance 21 Ltd., 1.00%, <br> 11/02/33<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 86819 |
| CK Hutchison Finance 16 Ltd., Series B, 2.00%, <br> 04/06/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 315060 |
| CK Hutchison Group Telecom Finance SA |  |  |
| 0.75%, 04/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 210<br>| 220335 |
| 1.13%, 10/17/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 399829 |
| Clarion Funding PLC |  |  |
| 1.88%, 01/22/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 370926 |
| 2.63%, 01/18/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 349744 |
| Clydesdale Bank PLC, 0.00%, 09/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 413392 |
| Coca-Cola Europacific Partners PLC |  |  |
| 0.20%, 12/02/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 437393 |
| 1.88%, 03/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 204758 |
| Compass Group Finance Netherlands BV, <br> 1.50%, 09/05/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 310300 |
| Coventry Building Society |  |  |
| 0.13%, 06/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 312834 |
| 3.13%, 10/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 430988 |
| 5.88%, 03/12/30, (1-year UK Government <br> Bond + 1.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 390799 |
| CPUK Finance Ltd. |  |  |
| 3.69%, 02/28/47<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 350<br>| 419136 |
| 6.14%, 02/28/47<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 259527 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| DCC Group Finance Ireland DAC, 4.38%, <br> 06/27/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| $222123 |
| Diageo Capital BV Co., 1.88%, 06/08/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 192020 |
| Diageo Finance PLC |  |  |
| 2.38%, 05/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 594949 |
| 2.38%, 06/08/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 595131 |
| 2.50%, 03/27/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 312462 |
| 2.75%, 06/08/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 195657 |
| 3.13%, 02/28/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217427 |
| DS Smith PLC, 4.38%, 07/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 448827 |
| DWR Cymru Financing U.K. PLC, 1.38%, <br> 03/31/33<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 400<br>| 375545 |
| easyJet FinCo BV, 1.88%, 03/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 466544 |
| Eversholt Funding PLC |  |  |
| 2.74%, 06/30/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 328<br>| 350777 |
| 3.53%, 08/07/42<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 250582 |
| Gatwick Funding Ltd. |  |  |
| 2.50%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 112896 |
| 2.88%, 07/05/51<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 313895 |
| 3.13%, 09/28/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 94536 |
| 6.13%, 03/02/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 130627 |
| GlaxoSmithKline Capital PLC |  |  |
| 1.00%, 09/12/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 421328 |
| 1.38%, 09/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 304931 |
| 1.63%, 05/12/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 186511 |
| 3.38%, 12/20/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 249622 |
| 5.25%, 12/19/33 | &nbsp;&nbsp; GBP<br> 278<br>| 369444 |
| 6.38%, 03/09/39 | &nbsp;&nbsp; GBP<br> 350<br>| 499955 |
| Global Switch Holdings Ltd., 2.25%, 05/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 360<br>| 385080 |
| Grainger PLC, 3.00%, 07/03/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 223441 |
| Great Rolling Stock Co. PLC (The), 6.88%, <br> 07/27/35<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 198<br>| 269091 |
| Greene King Finance PLC, 3.59%, 03/15/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 125<br>| 145224 |
| Guinness Partnership Ltd. (The), 2.00%, <br> 04/22/55<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 121740 |
| Hammerson Ireland Finance DAC, 1.75%, <br> 06/03/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 312247 |
| Heathrow Funding Ltd. |  |  |
| 1.13%, 10/08/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 285473 |
| 1.50%, 02/11/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 436<br>| 431586 |
| 1.88%, 03/14/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 185847 |
| 2.75%, 08/09/51<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 154690 |
| 3.73%, 04/13/35<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 134957 |
| 4.50%, 07/11/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 114795 |
| 5.88%, 05/13/43<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 385504 |
| 6.45%, 12/10/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 406644 |
| Series MPLE, 3.78%, 09/04/32<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 140333 |
| Hexagon Housing Association Ltd., 3.63%, <br> 04/22/48<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 88699 |
| Hiscox Ltd., 6.13%, 11/24/45, <br> (1-day SONIA + 5.195%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 258755 |
| HSBC Bank Capital Funding Sterling 1 LP, <br> 5.84%, (1-day SONIA + 2.036%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; GBP<br> 350<br>| 466958 |
| HSBC Holdings PLC |  |  |
| 0.77%, 11/13/31, <br> (3-mo. EURIBOR + 1.034%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 372032 |
| 2.26%, 11/13/26, <br> (1-year GBP Swap + 1.316%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 540<br>| 675461 |
| 3.00%, 07/22/28, <br> (1-year GBP Swap + 1.650%)<sup>(b)</sup><br>| &nbsp;&nbsp; GBP<br> 620<br>| 753551 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 3.02%, 06/15/27, <br> (3-mo. EURIBOR + 1.445%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| $977020 |
| 3.13%, 06/07/28 | &nbsp;&nbsp; EUR<br> 550<br>| 596975 |
| 3.45%, 09/25/30, <br> (3-mo. EURIBOR + 1.189%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 760539 |
| 3.83%, 09/25/35, <br> (3-mo. EURIBOR + 1.458%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 327135 |
| 4.60%, 03/22/35, (5-year EURIBOR ICE <br> Swap + 1.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 669635 |
| 4.79%, 03/10/32, <br> (3-mo. EURIBOR + 1.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 678<br>| 784809 |
| 5.29%, 09/16/32, <br> (1-day SONIA + 1.730%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 252888 |
| 6.00%, 03/29/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 350<br>| 439233 |
| 6.21%, 03/21/34, <br> (3-month BB Swap + 2.300%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; AUD<br> 550<br>| 366509 |
| 6.75%, 09/11/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 402494 |
| IG Group Holdings PLC, 3.13%, 11/18/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 113433 |
| Imperial Brands Finance Netherlands BV |  |  |
| 1.75%, 03/18/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 181332 |
| 5.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 350146 |
| Imperial Brands Finance PLC |  |  |
| 1.38%, 01/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 518<br>| 560890 |
| 4.88%, 06/07/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 241996 |
| Informa PLC |  |  |
| 1.25%, 04/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 101914 |
| 3.00%, 10/23/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 867929 |
| 3.25%, 10/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 430819 |
| 3.63%, 10/23/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 214691 |
| InterContinental Hotels Group PLC, 2.13%, <br> 05/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 212751 |
| Intermediate Capital Group PLC, 2.50%, <br> 01/28/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 301254 |
| International Consolidated Airlines Group SA, <br> 3.75%, 03/25/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 218431 |
| Investec PLC, 1.88%, 07/16/28, (1-year UK <br> Government Bond + 1.500%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 349423 |
| ITV PLC, 1.38%, 09/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 262882 |
| Just Group PLC, 6.88%, 03/30/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 256402 |
| Land Securities Capital Markets PLC |  |  |
| 2.38%, 03/29/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 120821 |
| 2.63%, 09/22/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 340<br>| 329135 |
| Legal & General Group PLC |  |  |
| 3.75%, 11/26/49, (5-year UK Government <br> Bond + 4.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 234706 |
| 5.13%, 11/14/48, (5-year UK Government <br> Bond + 4.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 252850 |
| 5.50%, 06/27/64, (5-year UK Government <br> Bond + 3.170%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 120255 |
| Libra Longhurst Group Treasury No. 2 PLC, <br> 3.25%, 05/15/43<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 91046 |
| Lloyds Bank Corporate Markets PLC |  |  |
| 0.38%, 01/28/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 594246 |
| 2.38%, 04/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 431891 |
| Lloyds Bank PLC |  |  |
| 0.13%, 06/18/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208865 |
| 0.63%, 03/26/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323311 |
| 5.13%, 03/07/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 257773 |
| 6.00%, 02/08/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 405742 |
| Lloyds Banking Group PLC |  |  |
| 2.00%, 04/12/28, (1-year GUK + 1.180%)<sup>(a)(b)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 598102 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 2.71%, 12/03/35, (5-year UK Government <br> Bond + 2.400%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 500<br>| $534650 |
| 3.13%, 08/24/30, <br> (1-year EUR Swap + 1.500%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 320739 |
| 3.88%, 05/14/32, (1-year EURIBOR ICE <br> Swap + 1.180%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220062 |
| 4.00%, 03/07/25 | &nbsp;&nbsp; AUD<br> 250<br>| 163994 |
| 4.75%, 09/21/31, <br> (1-year EUR Swap + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 575877 |
| 7.09%, 08/31/33, <br> (3-month BB Swap + 2.900%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; AUD<br> 250<br>| 170793 |
| Logicor U.K. PLC, 1.88%, 11/17/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 242178 |
| London & Quadrant Housing Trust |  |  |
| 2.13%, 03/31/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 102922 |
| 2.63%, 02/28/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 237475 |
| 3.13%, 02/28/53<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 163063 |
| 3.75%, 10/27/49<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 281604 |
| London & Quadrant Housing Trust Ltd., 5.50%, <br> 01/27/40<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 250776 |
| London Stock Exchange Group PLC |  |  |
| 1.75%, 12/06/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 630544 |
| 1.75%, 09/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 153721 |
| Lseg Netherlands BV, 4.23%, 09/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227980 |
| M&G PLC |  |  |
| 5.56%, 07/20/55, (5-year UK Government <br> Bond + 4.160%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 550<br>| 648259 |
| 5.63%, 10/20/51, (5-year UK Government <br> Bond + 5.000%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 235<br>| 290365 |
| Manchester Airport Group Funding PLC, 2.88%, <br> 09/30/44<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 248813 |
| Martlet Homes Ltd., 3.00%, 05/09/52<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 80658 |
| Metropolitan Funding PLC, 4.13%, 04/05/48<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 99471 |
| Motability Operations Group PLC |  |  |
| 0.38%, 01/03/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 633631 |
| 2.13%, 01/18/42<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 750<br>| 606604 |
| 2.38%, 03/14/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 322412 |
| 3.63%, 03/10/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 580<br>| 634893 |
| 3.88%, 01/24/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 441712 |
| 4.25%, 06/17/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227030 |
| 4.38%, 02/08/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 508928 |
| National Gas Transmission PLC, 1.63%, <br> 01/14/43<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 134977 |
| National Grid Electricity Distribution East <br> Midlands PLC, 3.95%, 09/20/32<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 223750 |
| National Grid Electricity Distribution South West <br> PLC, 2.38%, 05/16/29<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 229802 |
| National Grid Electricity Distribution West <br> Midlands PLC<br>|  |  |
| 5.75%, 04/16/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 521277 |
| 6.00%, 05/09/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 193959 |
| National Grid Electricity Transmission PLC |  |  |
| 2.00%, 04/17/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 650<br>| 515382 |
| 2.30%, 06/22/29<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 133752 |
| National Grid PLC |  |  |
| 0.75%, 09/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 254901 |
| 4.28%, 01/16/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 622003 |
| Nationwide Building Society |  |  |
| 0.25%, 09/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 732136 |
| 0.63%, 03/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 155698 |
| 1.38%, 06/29/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 489540 |
| 2.25%, 06/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 319368 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 3.25%, 01/20/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| $368250 |
| 3.31%, 05/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 225480 |
| 4.38%, 04/16/34, (5-year EURIBOR ICE <br> Swap + 1.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 775255 |
| Natwest Group PLC, 2.11%, 11/28/31, (5-year <br> UK Government Bond + 1.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 550<br>| 663501 |
| NatWest Group PLC |  |  |
| 0.78%, 02/26/30, <br> (3-mo. EURIBOR + 0.949%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 900<br>| 878241 |
| 1.04%, 09/14/32, <br> (5-year EUR Swap + 1.270%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 404616 |
| 3.62%, 03/29/29, (1-year UK Government <br> Bond + 2.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 550<br>| 674378 |
| NatWest Markets PLC |  |  |
| 0.13%, 11/12/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 687061 |
| 0.13%, 06/18/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 808<br>| 840555 |
| Network Rail Infrastructure Finance PLC, 4.75%, <br> 11/29/35<br>| &nbsp;&nbsp; GBP<br> 450<br>| 578975 |
| NewRiver REIT PLC, 3.50%, 03/07/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 237590 |
| NIE Finance PLC, 2.50%, 10/27/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 627915 |
| Northern Gas Networks Finance PLC, 6.13%, <br> 06/02/33<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 266564 |
| Northern Powergrid Northeast PLC, 1.88%, <br> 06/16/62<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 113243 |
| Northern Powergrid Yorkshire PLC, 2.25%, <br> 10/09/59<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 62934 |
| Northumbrian Water Finance PLC |  |  |
| 1.63%, 10/11/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 510<br>| 608184 |
| 2.38%, 10/05/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 117500 |
| 5.63%, 04/29/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 624221 |
| Notting Hill Genesis |  |  |
| 2.00%, 06/03/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 89217 |
| 3.25%, 10/12/48<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 86264 |
| 3.75%, 12/20/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 230040 |
| 5.25%, 07/07/42<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 298152 |
| Optivo Finance PLC, 3.28%, 03/22/48<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 128893 |
| Orbit Capital PLC, 3.50%, 03/24/45<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 189931 |
| OSB Group PLC, 8.88%, 01/16/30, (1-year UK <br> Government Bond + 5.255%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 280537 |
| Paragon Treasury PLC, 2.00%, 05/07/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 88578 |
| Peabody Capital No. 2 PLC |  |  |
| 2.75%, 03/02/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 102521 |
| 3.25%, 09/14/48<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 171931 |
| Pension Insurance Corp. PLC, 5.63%, <br> 09/20/30<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 463<br>| 574245 |
| Phoenix Group Holdings PLC |  |  |
| 5.63%, 04/28/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 124291 |
| 5.63%, 04/28/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 186437 |
| 5.87%, 06/13/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 510772 |
| Places for People Homes Ltd., 3.63%, <br> 11/22/28<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 362515 |
| Places For People Treasury PLC |  |  |
| 2.50%, 01/26/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 186996 |
| 6.25%, 12/06/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 262127 |
| Platform HG Financing PLC, 1.93%, 09/15/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 198521 |
| Prs Finance PLC, 2.00%, 01/23/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 232186 |
| Reckitt Benckiser Treasury Services Nederland <br> BV, 0.75%, 05/19/30<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 416<br>| 398789 |
| Reckitt Benckiser Treasury Services PLC |  |  |
| 1.75%, 05/19/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 306943 |
| 3.63%, 06/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 333489 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| RELX Finance BV |  |  |
| 3.38%, 03/20/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| $543618 |
| 3.75%, 06/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 391727 |
| Rentokil Initial Finance BV, 4.38%, 06/27/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 335320 |
| Rentokil Initial PLC, 0.88%, 05/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 740046 |
| RL Finance Bonds No. 4 PLC, 4.88%, 10/07/49, <br> (5-year UK Government Bond + 5.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 209992 |
| Rothesay Life PLC |  |  |
| 3.38%, 07/12/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 686156 |
| 7.02%, 12/10/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 197986 |
| Sage Group PLC (The), 2.88%, 02/08/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 209240 |
| Saltaire Finance PLC, 4.82%, 12/01/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 643311 |
| Sanctuary Capital PLC |  |  |
| 2.38%, 04/14/50<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 219154 |
| 6.70%, 03/23/39 | &nbsp;&nbsp; GBP<br> 100<br>| 144341 |
| Santander U.K. Group Holdings PLC |  |  |
| 0.60%, 09/13/29, <br> (1-year EUR Swap + 0.800%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 293131 |
| 2.42%, 01/17/29, <br> (1-year GBP Swap + 1.250%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 353309 |
| 3.53%, 08/25/28, <br> (1-year EUR Swap + 1.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 218698 |
| Santander U.K. PLC |  |  |
| 0.05%, 01/12/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 102750 |
| 1.13%, 03/12/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 420161 |
| 3.00%, 03/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 440119 |
| 3.13%, 05/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221846 |
| 5.25%, 02/16/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 197354 |
| Scottish Hydro Electric Transmission PLC |  |  |
| 2.13%, 03/24/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 600<br>| 558456 |
| 3.38%, 09/04/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108253 |
| Scottish Widows Ltd., 7.00%, 06/16/43<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 133836 |
| Segro Capital SARL, 0.50%, 09/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 266594 |
| Segro PLC, 2.38%, 10/11/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 210<br>| 239244 |
| Severn Trent Utilities Finance PLC |  |  |
| 2.00%, 06/02/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 237155 |
| 2.75%, 12/05/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 599925 |
| 3.63%, 01/16/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 253062 |
| Sky Ltd. |  |  |
| 2.25%, 11/17/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 648129 |
| 6.00%, 05/21/27 | &nbsp;&nbsp; GBP<br> 500<br>| 660286 |
| Smiths Group PLC, 2.00%, 02/23/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212023 |
| South Eastern Power Networks PLC, 5.63%, <br> 09/30/30<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 800<br>| 1059140 |
| Southern Gas Networks PLC |  |  |
| 3.10%, 09/15/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 295748 |
| 3.50%, 10/16/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215538 |
| Southern Housing, 3.50%, 10/19/47<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 267505 |
| Southern Housing Group Ltd., 2.38%, <br> 10/08/36<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 91451 |
| Southern Water Services Finance Ltd. |  |  |
| 3.00%, 05/28/37<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 430895 |
| 5.13%, 09/30/56 | &nbsp;&nbsp; GBP<br> 50<br>| 52591 |
| 6.19%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 375<br>| 479078 |
| Series A4, 6.64%, 03/31/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 240<br>| 287058 |
| Sovereign Housing Capital PLC |  |  |
| 2.38%, 11/04/48<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 72816 |
| 5.50%, 01/24/57<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 247811 |
| SP Transmission PLC, 2.00%, 11/13/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 223<br>| 236190 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| SSE PLC |  |  |
| 4.00%, (5-year EUR Swap + 2.696%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| $489487 |
| 8.38%, 11/20/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 280<br>| 403337 |
| Standard Chartered PLC |  |  |
| 1.20%, 09/23/31, <br> (5-year EUR Swap + 1.550%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 311385 |
| 1.63%, 10/03/27, (1-year EURIBOR ICE <br> Swap + 0.880%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 559<br>| 590327 |
| 4.20%, 03/04/32, <br> (1-year EUR Swap + 1.450%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 557735 |
| 4.38%, 01/18/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 232224 |
| Telereal Securitisation PLC |  |  |
| 1.96%, 12/10/33, <br> (1-day SONIA + 4.439%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 123053 |
| 3.56%, 12/10/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 230616 |
| Tesco Corporate Treasury Services PLC |  |  |
| 0.88%, 05/29/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 316446 |
| 2.75%, 04/27/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 456488 |
| 4.25%, 02/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 112954 |
| Tesco Property Finance 3 PLC, 5.74%, <br> 04/13/40<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 352<br>| 446135 |
| Tesco Property Finance 6 PLC, 5.41%, <br> 07/13/44<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 87<br>| 107517 |
| THFC Funding No. 2 PLC, 6.35%, 07/08/41 | &nbsp;&nbsp; GBP<br> 250<br>| 347154 |
| Unilever Finance Netherlands BV |  |  |
| 1.00%, 02/14/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 620<br>| 650147 |
| 1.38%, 07/31/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 204694 |
| 1.63%, 02/12/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 460<br>| 452023 |
| 1.75%, 03/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 620<br>| 637973 |
| 3.50%, 02/15/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221141 |
| Unilever PLC, 1.50%, 06/11/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 175126 |
| United Utilities Water Finance PLC |  |  |
| 1.75%, 02/10/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 750<br>| 613148 |
| 2.63%, 02/12/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 330598 |
| University of Liverpool, 3.38%, 06/25/55<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 88056 |
| University of Oxford, 2.54%, 12/08/2117<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 129889 |
| University of Southampton, 2.25%, 04/11/57<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 67014 |
| Urenco Finance NV, 3.25%, 06/13/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 430805 |
| Utmost Group PLC, 4.00%, 12/15/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 107234 |
| Virgin Money U.K. PLC |  |  |
| 4.63%, 10/29/28, <br> (1-year EUR Swap + 1.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 250<br>| 282272 |
| 7.63%, 08/23/29, (1-year UK Government <br> Bond + 3.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 300<br>| 416005 |
| Vodafone Group PLC |  |  |
| 0.38%, 12/03/24<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 200<br>| 231436 |
| 1.13%, 11/20/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 170<br>| 181936 |
| 1.50%, 07/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 620<br>| 651287 |
| 1.60%, 07/29/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 196924 |
| 2.50%, 05/24/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 187919 |
| 3.00%, 08/12/56<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 295085 |
| 4.20%, 12/13/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 400<br>| 256501 |
| 5.63%, 12/04/25 | &nbsp;&nbsp; GBP<br> 283<br>| 366520 |
| 5.90%, 11/26/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 201834 |
| Vodafone International Financing DAC |  |  |
| 3.75%, 12/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 498509 |
| 4.00%, 02/10/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 110943 |
| Wales & West Utilities Finance PLC |  |  |
| 1.88%, 05/28/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 153695 |
| 3.00%, 08/03/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 192520 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Wellcome Trust Ltd. (The) |  |  |
| 1.13%, 01/21/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| $629387 |
| 1.50%, 07/14/71<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 95355 |
| 2.52%, 02/07/2118<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 97281 |
| Wessex Water Services Finance PLC |  |  |
| 5.13%, 10/31/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 242525 |
| 5.13%, 10/31/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 121262 |
| WHG Treasury PLC, 4.25%, 10/06/45<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 104825 |
| Whitbread Group PLC, 3.38%, 10/16/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 379154 |
| WPP Finance 2013, 4.00%, 09/12/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 441459 |
| WPP Finance SA |  |  |
| 2.25%, 09/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 207<br>| 222121 |
| 3.75%, 05/19/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 229484 |
| 4.13%, 05/30/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 448197 |
| Yorkshire Building Society, 3.51%, 10/11/30, <br> (1-year UK Government Bond + 2.050%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 238186 |
| Yorkshire Water Finance PLC |  |  |
| 1.75%, 10/27/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 187540 |
| 2.75%, 04/18/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 244978 |
| 5.25%, 04/28/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 246709 |
|  |  | 117500188 |
| **United States — 2.1%** | **United States — 2.1%** | **United States — 2.1%** |
| 3M Co., 1.50%, 11/09/26 | &nbsp;&nbsp; EUR<br> 250<br>| 264744 |
| Abbott Ireland Financing DAC, 1.50%, <br> 09/27/26<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 530722 |
| AbbVie Inc., 0.75%, 11/18/27 | &nbsp;&nbsp; EUR<br> 500<br>| 512240 |
| Air Products and Chemicals Inc., 0.80%, <br> 05/05/32<br>| &nbsp;&nbsp; EUR<br> 400<br>| 364125 |
| Albemarle New Holding GmbH, 1.63%, <br> 11/25/28<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 201415 |
| Altria Group Inc., 3.13%, 06/15/31 | &nbsp;&nbsp; EUR<br> 300<br>| 313352 |
| American Honda Finance Corp. |  |  |
| 1.50%, 10/19/27 | &nbsp;&nbsp; GBP<br> 500<br>| 587364 |
| 3.65%, 04/23/31 | &nbsp;&nbsp; EUR<br> 200<br>| 219807 |
| American International Group Inc., 1.88%, <br> 06/21/27<br>| &nbsp;&nbsp; EUR<br> 250<br>| 264313 |
| American Medical Systems Europe BV |  |  |
| 1.38%, 03/08/28 | &nbsp;&nbsp; EUR<br> 400<br>| 413393 |
| 1.88%, 03/08/34 | &nbsp;&nbsp; EUR<br> 400<br>| 380645 |
| American Tower Corp. |  |  |
| 0.95%, 10/05/30 | &nbsp;&nbsp; EUR<br> 450<br>| 424574 |
| 1.95%, 05/22/26 | &nbsp;&nbsp; EUR<br> 325<br>| 347853 |
| 4.63%, 05/16/31 | &nbsp;&nbsp; EUR<br> 400<br>| 462824 |
| Amgen Inc., 4.00%, 09/13/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 450<br>| 556759 |
| Apple Inc. |  |  |
| 0.38%, 11/25/24<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 400<br>| 463005 |
| 0.50%, 11/15/31 | &nbsp;&nbsp; EUR<br> 300<br>| 279414 |
| 0.75%, 02/25/30<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 250<br>| 290111 |
| 3.05%, 07/31/29 | &nbsp;&nbsp; GBP<br> 200<br>| 242534 |
| Aptiv PLC / Aptiv Global Financing Ltd., 4.25%, <br> 06/11/36<br>| &nbsp;&nbsp; EUR<br> 200<br>| 217242 |
| AT&T Inc. |  |  |
| 0.25%, 03/04/26 | &nbsp;&nbsp; EUR<br> 600<br>| 630034 |
| 1.60%, 05/19/28 | &nbsp;&nbsp; EUR<br> 400<br>| 414697 |
| 1.60%, 05/19/28 | &nbsp;&nbsp; EUR<br> 150<br>| 155511 |
| 2.05%, 05/19/32 | &nbsp;&nbsp; EUR<br> 100<br>| 99331 |
| 2.35%, 09/05/29 | &nbsp;&nbsp; EUR<br> 200<br>| 210221 |
| 2.60%, 12/17/29 | &nbsp;&nbsp; EUR<br> 755<br>| 798884 |
| 3.15%, 09/04/36 | &nbsp;&nbsp; EUR<br> 850<br>| 876210 |
| 3.55%, 12/17/32 | &nbsp;&nbsp; EUR<br> 400<br>| 438064 |
| 4.00%, 11/25/25 | &nbsp;&nbsp; CAD<br> 150<br>| 107927 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| 4.30%, 11/18/34 | &nbsp;&nbsp; EUR<br> 250<br>| $288003 |
| 4.60%, 09/19/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 129363 |
| 4.85%, 05/25/47 | &nbsp;&nbsp; CAD<br> 150<br>| 102345 |
| 4.88%, 06/01/44 | &nbsp;&nbsp; GBP<br> 300<br>| 336952 |
| 5.10%, 11/25/48 | &nbsp;&nbsp; CAD<br> 150<br>| 105673 |
| 5.50%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 519554 |
| 7.00%, 04/30/40 | &nbsp;&nbsp; GBP<br> 350<br>| 501939 |
| Athene Global Funding |  |  |
| 0.37%, 09/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 413839 |
| 0.63%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300366 |
| 4.76%, 04/21/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 126233 |
| Bank of America Corp. |  |  |
| 0.58%, 08/24/28, <br> (3-mo. EURIBOR + 0.760%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 710339 |
| 0.65%, 10/26/31, <br> (3-mo. EURIBOR + 0.940%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 370111 |
| 0.69%, 03/22/31, <br> (3-mo. EURIBOR + 0.790%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 566069 |
| 1.10%, 05/24/32, <br> (3-mo. EURIBOR + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 374779 |
| 1.66%, 04/25/28, <br> (3-mo. EURIBOR + 0.890%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 500<br>| 526489 |
| 1.67%, 06/02/29, (1-year UK Government <br> Bond + 1.100%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 700<br>| 802501 |
| 2.82%, 04/27/33, <br> (3-mo. EURIBOR + 1.200%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 207262 |
| 3.62%, 03/16/28<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 357125 |
| 3.65%, 03/31/29, <br> (3-mo. EURIBOR + 3.670%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 250<br>| 276358 |
| Series MPLE, 1.98%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 150<br>| 104261 |
| Series MPLE, 2.60%, 04/04/29<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 68946 |
| Baxter International Inc., 1.30%, 05/15/29 | &nbsp;&nbsp; EUR<br> 250<br>| 250047 |
| Becton Dickinson Euro Finance SARL |  |  |
| 0.33%, 08/13/28 | &nbsp;&nbsp; EUR<br> 325<br>| 319734 |
| 1.21%, 06/04/26 | &nbsp;&nbsp; EUR<br> 300<br>| 318040 |
| 1.34%, 08/13/41 | &nbsp;&nbsp; EUR<br> 400<br>| 299841 |
| 4.03%, 06/07/36 | &nbsp;&nbsp; EUR<br> 200<br>| 224067 |
| Berkshire Hathaway Finance Corp. |  |  |
| 1.50%, 03/18/30 | &nbsp;&nbsp; EUR<br> 200<br>| 202567 |
| 2.00%, 03/18/34 | &nbsp;&nbsp; EUR<br> 100<br>| 98109 |
| 2.38%, 06/19/39 | &nbsp;&nbsp; GBP<br> 300<br>| 270367 |
| 2.63%, 06/19/59 | &nbsp;&nbsp; GBP<br> 200<br>| 145135 |
| Berkshire Hathaway Inc. |  |  |
| 0.00%, 03/12/25 | &nbsp;&nbsp; EUR<br> 400<br>| 430353 |
| 0.50%, 01/15/41 | &nbsp;&nbsp; EUR<br> 300<br>| 203923 |
| 1.13%, 03/16/27 | &nbsp;&nbsp; EUR<br> 440<br>| 462636 |
| 2.15%, 03/15/28 | &nbsp;&nbsp; EUR<br> 100<br>| 106733 |
| Blackstone Holdings Finance Co. LLC, 1.50%, <br> 04/10/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 202341 |
| Booking Holdings Inc. |  |  |
| 1.80%, 03/03/27 | &nbsp;&nbsp; EUR<br> 430<br>| 459354 |
| 1.80%, 03/03/27 | &nbsp;&nbsp; EUR<br> 150<br>| 160240 |
| 4.00%, 11/15/26 | &nbsp;&nbsp; EUR<br> 535<br>| 594415 |
| 4.00%, 03/01/44 | &nbsp;&nbsp; EUR<br> 500<br>| 550001 |
| 4.13%, 05/12/33 | &nbsp;&nbsp; EUR<br> 300<br>| 341878 |
| 4.50%, 11/15/31 | &nbsp;&nbsp; EUR<br> 225<br>| 262615 |
| BorgWarner Inc., 1.00%, 05/19/31 | &nbsp;&nbsp; EUR<br> 200<br>| 183183 |
| BP Capital Markets BV, 1.47%, 09/21/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 151225 |
| Carrier Global Corp., 4.50%, 11/29/32 | &nbsp;&nbsp; EUR<br> 300<br>| 348084 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Celanese U.S. Holdings LLC |  |  |
| 4.78%, 07/19/26 | &nbsp;&nbsp; EUR<br> 300<br>| $332814 |
| 5.34%, 01/19/29 | &nbsp;&nbsp; EUR<br> 200<br>| 230054 |
| Chubb INA Holdings LLC |  |  |
| 1.40%, 06/15/31 | &nbsp;&nbsp; EUR<br> 330<br>| 321187 |
| 2.50%, 03/15/38 | &nbsp;&nbsp; EUR<br> 200<br>| 193527 |
| Citigroup Inc. |  |  |
| 0.50%, 10/08/27, <br> (3-mo. EURIBOR + 0.957%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 827622 |
| 1.25%, 04/10/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 399990 |
| 1.50%, 10/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 612599 |
| 1.75%, 01/28/25 | &nbsp;&nbsp; EUR<br> 400<br>| 433632 |
| 1.75%, 10/23/26 | &nbsp;&nbsp; GBP<br> 100<br>| 121249 |
| 4.11%, 09/22/33, <br> (3-mo. EURIBOR + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 224049 |
| 4.11%, 09/22/33, <br> (3-mo. EURIBOR + 1.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 336074 |
| 5.07%, 04/29/28<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 221494 |
| 7.38%, 09/01/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 605807 |
| CNH Industrial Finance Europe SA, 1.75%, <br> 03/25/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 450<br>| 476211 |
| CNH Industrial NV, 3.75%, 06/11/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 328577 |
| Coca-Cola Co. (The) |  |  |
| 0.13%, 03/09/29 | &nbsp;&nbsp; EUR<br> 676<br>| 654254 |
| 1.00%, 03/09/41 | &nbsp;&nbsp; EUR<br> 300<br>| 227283 |
| 1.63%, 03/09/35 | &nbsp;&nbsp; EUR<br> 813<br>| 759388 |
| 3.13%, 05/14/32 | &nbsp;&nbsp; EUR<br> 500<br>| 544965 |
| 3.38%, 08/15/37 | &nbsp;&nbsp; EUR<br> 300<br>| 326640 |
| Colgate-Palmolive Co., 0.50%, 03/06/26 | &nbsp;&nbsp; EUR<br> 360<br>| 379967 |
| Comcast Corp. |  |  |
| 0.25%, 09/14/29 | &nbsp;&nbsp; EUR<br> 500<br>| 476473 |
| 1.25%, 02/20/40 | &nbsp;&nbsp; EUR<br> 300<br>| 241302 |
| 1.88%, 02/20/36 | &nbsp;&nbsp; GBP<br> 200<br>| 183794 |
| 3.25%, 09/26/32 | &nbsp;&nbsp; EUR<br> 600<br>| 647489 |
| 3.55%, 09/26/36 | &nbsp;&nbsp; EUR<br> 400<br>| 433342 |
| 5.25%, 09/26/40 | &nbsp;&nbsp; GBP<br> 200<br>| 249654 |
| CRH Finance DAC, 1.38%, 10/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 306578 |
| Crh Finance U.K. PLC, 4.13%, 12/02/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 249541 |
| CRH SMW Finance DAC, 4.25%, 07/11/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 457177 |
| Danaher Corp., 2.50%, 03/30/30 | &nbsp;&nbsp; EUR<br> 200<br>| 211728 |
| DH Europe Finance II SARL |  |  |
| 0.45%, 03/18/28 | &nbsp;&nbsp; EUR<br> 275<br>| 275966 |
| 0.75%, 09/18/31 | &nbsp;&nbsp; EUR<br> 900<br>| 835512 |
| 1.35%, 09/18/39 | &nbsp;&nbsp; EUR<br> 200<br>| 163342 |
| DH Europe Finance SARL, 1.20%, 06/30/27 | &nbsp;&nbsp; EUR<br> 500<br>| 521828 |
| Digital Dutch Finco BV |  |  |
| 1.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 407573 |
| 1.50%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 293472 |
| Digital Intrepid Holding BV, 0.63%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 178041 |
| Digital Stout Holding LLC, 4.25%, 01/17/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 514538 |
| Dover Corp., 0.75%, 11/04/27 | &nbsp;&nbsp; EUR<br> 200<br>| 203584 |
| Dow Chemical Co. (The), 1.13%, 03/15/32 | &nbsp;&nbsp; EUR<br> 300<br>| 276762 |
| Duke Energy Corp. |  |  |
| 3.10%, 06/15/28 | &nbsp;&nbsp; EUR<br> 200<br>| 216638 |
| 3.75%, 04/01/31 | &nbsp;&nbsp; EUR<br> 300<br>| 328022 |
| DXC Capital Funding DAC, 0.45%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 299383 |
| Eaton Capital UnLtd Co., 3.80%, 05/21/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222584 |
| Eli Lilly & Co. |  |  |
| 0.63%, 11/01/31 | &nbsp;&nbsp; EUR<br> 400<br>| 372324 |
| 1.13%, 09/14/51 | &nbsp;&nbsp; EUR<br> 575<br>| 383499 |
| 1.63%, 06/02/26 | &nbsp;&nbsp; EUR<br> 350<br>| 374557 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Equinix Europe 2 Financing Corp. LLC, 3.65%, <br> 09/03/33<br>| &nbsp;&nbsp; EUR<br> 200<br>| $218340 |
| Equinix Inc., 0.25%, 03/15/27 | &nbsp;&nbsp; EUR<br> 250<br>| 255350 |
| Experian Finance PLC |  |  |
| 1.38%, 06/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212904 |
| 3.25%, 04/07/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 230453 |
| Exxon Mobil Corp. |  |  |
| 0.84%, 06/26/32 | &nbsp;&nbsp; EUR<br> 350<br>| 318069 |
| 1.41%, 06/26/39 | &nbsp;&nbsp; EUR<br> 250<br>| 200258 |
| FedEx Corp. |  |  |
| 1.30%, 08/05/31 | &nbsp;&nbsp; EUR<br> 307<br>| 292347 |
| 1.63%, 01/11/27 | &nbsp;&nbsp; EUR<br> 340<br>| 360099 |
| Fidelity National Information Services Inc. |  |  |
| 1.00%, 12/03/28 | &nbsp;&nbsp; EUR<br> 350<br>| 349959 |
| 1.50%, 05/21/27 | &nbsp;&nbsp; EUR<br> 350<br>| 367160 |
| 2.95%, 05/21/39 | &nbsp;&nbsp; EUR<br> 100<br>| 98702 |
| Fiserv Inc. |  |  |
| 1.63%, 07/01/30 | &nbsp;&nbsp; EUR<br> 150<br>| 149162 |
| 3.00%, 07/01/31 | &nbsp;&nbsp; GBP<br> 300<br>| 338528 |
| 4.50%, 05/24/31 | &nbsp;&nbsp; EUR<br> 200<br>| 229431 |
| Ford Credit Canada Co., 6.38%, 11/10/28 | &nbsp;&nbsp; CAD<br> 400<br>| 303849 |
| Ford Credit Canada Co./Canada |  |  |
| 5.58%, 05/23/31 | &nbsp;&nbsp; CAD<br> 200<br>| 146328 |
| 5.67%, 02/20/30 | &nbsp;&nbsp; CAD<br> 200<br>| 148187 |
| Ford Motor Credit Co. LLC |  |  |
| 2.39%, 02/17/26 | &nbsp;&nbsp; EUR<br> 450<br>| 483619 |
| 4.45%, 02/14/30 | &nbsp;&nbsp; EUR<br> 200<br>| 220403 |
| 4.87%, 08/03/27 | &nbsp;&nbsp; EUR<br> 600<br>| 673992 |
| 6.13%, 05/15/28 | &nbsp;&nbsp; EUR<br> 500<br>| 584157 |
| GE Capital European Funding Unlimited Co., <br> 4.63%, 02/22/27<br>| &nbsp;&nbsp; EUR<br> 50<br>| 56191 |
| General Electric Co. |  |  |
| 1.50%, 05/17/29 | &nbsp;&nbsp; EUR<br> 225<br>| 228633 |
| 2.13%, 05/17/37 | &nbsp;&nbsp; EUR<br> 400<br>| 364969 |
| 4.13%, 09/19/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 226518 |
| General Mills Inc. |  |  |
| 3.65%, 10/23/30 | &nbsp;&nbsp; EUR<br> 400<br>| 443964 |
| 3.85%, 04/23/34 | &nbsp;&nbsp; EUR<br> 300<br>| 334082 |
| General Motors Financial Co. Inc. |  |  |
| 0.60%, 05/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 407309 |
| 0.65%, 09/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 296438 |
| 4.30%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 125<br>| 140633 |
| General Motors Financial of Canada Ltd. |  |  |
| 5.10%, 07/14/28 | &nbsp;&nbsp; CAD<br> 200<br>| 147779 |
| 5.20%, 02/09/28 | &nbsp;&nbsp; CAD<br> 250<br>| 184939 |
| Global Payments Inc., 4.88%, 03/17/31 | &nbsp;&nbsp; EUR<br> 200<br>| 228511 |
| Goldman Sachs Group Inc. (The) |  |  |
| 0.25%, 01/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 617<br>| 616358 |
| 0.50%, 12/04/24<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 250<br>| 289314 |
| 0.88%, 01/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 676089 |
| 1.00%, 03/18/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 575<br>| 516443 |
| 1.63%, 07/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 455<br>| 485414 |
| 1.88%, 12/16/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 450<br>| 480375 |
| 2.00%, 03/22/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 579181 |
| 2.88%, 06/03/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 488<br>| 529691 |
| 3.13%, 07/25/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 238408 |
| 7.25%, 04/10/28 | &nbsp;&nbsp; GBP<br> 545<br>| 750090 |
| Series MPLE, 2.01%, 02/28/29<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 202873 |
| Haleon Netherlands Capital BV |  |  |
| 1.75%, 03/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 203419 |
| 2.13%, 03/29/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 194072 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Haleon U.K. Capital PLC |  |  |
| 2.88%, 10/29/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| $120260 |
| 3.38%, 03/29/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 208948 |
| Harley-Davidson Financial Services Inc., 0.90%, <br> 11/19/24<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 300<br>| 325963 |
| Highland Holdings SARL, 0.32%, 12/15/26 | &nbsp;&nbsp; EUR<br> 200<br>| 206160 |
| Honeywell International Inc. |  |  |
| 0.75%, 03/10/32 | &nbsp;&nbsp; EUR<br> 300<br>| 273594 |
| 4.13%, 11/02/34 | &nbsp;&nbsp; EUR<br> 352<br>| 402325 |
| IHG Finance LLC, 3.63%, 09/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 214597 |
| Illinois Tool Works Inc. |  |  |
| 2.13%, 05/22/30 | &nbsp;&nbsp; EUR<br> 260<br>| 270149 |
| 3.38%, 05/17/32 | &nbsp;&nbsp; EUR<br> 200<br>| 220341 |
| International Business Machines Corp. |  |  |
| 0.30%, 11/02/26 | &nbsp;&nbsp; JPY<br> 100,000<br>| 649214 |
| 0.30%, 02/11/28 | &nbsp;&nbsp; EUR<br> 730<br>| 731323 |
| 0.65%, 02/11/32 | &nbsp;&nbsp; EUR<br> 500<br>| 454335 |
| 1.25%, 02/09/34 | &nbsp;&nbsp; EUR<br> 300<br>| 272786 |
| 1.25%, 02/09/34 | &nbsp;&nbsp; EUR<br> 100<br>| 90929 |
| 1.75%, 01/31/31 | &nbsp;&nbsp; EUR<br> 355<br>| 355762 |
| 4.00%, 02/06/43 | &nbsp;&nbsp; EUR<br> 400<br>| 445092 |
| International Flavors & Fragrances Inc., 1.80%, <br> 09/25/26<br>| &nbsp;&nbsp; EUR<br> 300<br>| 317403 |
| John Deere Bank SA, 3.30%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220198 |
| John Deere Cash Management SARL, 2.20%, <br> 04/02/32<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 350<br>| 357244 |
| John Deere Financial Inc. |  |  |
| 2.58%, 10/16/26 | &nbsp;&nbsp; CAD<br> 200<br>| 141157 |
| 4.38%, 07/11/28 | &nbsp;&nbsp; CAD<br> 200<br>| 146748 |
| 5.17%, 09/15/28 | &nbsp;&nbsp; CAD<br> 600<br>| 452704 |
| Johnson & Johnson |  |  |
| 1.65%, 05/20/35 | &nbsp;&nbsp; EUR<br> 400<br>| 383308 |
| 3.20%, 06/01/32 | &nbsp;&nbsp; EUR<br> 200<br>| 222160 |
| 3.35%, 06/01/36 | &nbsp;&nbsp; EUR<br> 450<br>| 498507 |
| Johnson Controls International PLC, 4.25%, <br> 05/23/35<br>| &nbsp;&nbsp; EUR<br> 430<br>| 495008 |
| JPMorgan Chase & Co. |  |  |
| 0.60%, 02/17/33, <br> (3-mo. EURIBOR + 0.650%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 550<br>| 490632 |
| 1.05%, 11/04/32, <br> (3-mo. EURIBOR + 0.870%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 650<br>| 604462 |
| 1.09%, 03/11/27, <br> (3-mo. EURIBOR + 0.760%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 847825 |
| 1.50%, 01/27/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 346700 |
| 1.81%, 06/12/29, <br> (3-mo. EURIBOR + 0.950%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 450<br>| 467500 |
| 1.90%, 04/28/33, <br> (1-day SONIA + 1.130%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 208809 |
| 1.96%, 03/23/30, <br> (3-mo. EURIBOR + 1.130%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 963<br>| 992865 |
| 2.88%, 05/24/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 488368 |
| 3.50%, 12/18/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 350<br>| 440210 |
| 3.67%, 06/06/28, <br> (3-mo. EURIBOR + 0.600%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 441078 |
| 3.76%, 03/21/34, <br> (3-mo. EURIBOR + 0.980%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 220304 |
| Series MPLE, 1.90%, 03/05/28<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 137765 |
| Kinder Morgan Inc., 2.25%, 03/16/27 | &nbsp;&nbsp; EUR<br> 200<br>| 214454 |
| Kraft Heinz Foods Co. |  |  |
| 2.25%, 05/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 371464 |
| 4.13%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 126324 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Linde Finance BV, 0.25%, 05/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| $612071 |
| Linde PLC |  |  |
| 0.38%, 09/30/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 426936 |
| 1.00%, 09/30/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 63917 |
| 1.38%, 03/31/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 685628 |
| 3.40%, 02/14/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 324183 |
| 3.75%, 06/04/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219148 |
| LYB International Finance II BV, 0.88%, <br> 09/17/26<br>| &nbsp;&nbsp; EUR<br> 200<br>| 208564 |
| Marsh & McLennan Companies Inc., 1.98%, <br> 03/21/30<br>| &nbsp;&nbsp; EUR<br> 200<br>| 204714 |
| Mastercard Inc., 1.00%, 02/22/29 | &nbsp;&nbsp; EUR<br> 500<br>| 505490 |
| McDonald's Corp. |  |  |
| 0.88%, 10/04/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 524<br>| 459920 |
| 0.90%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 421679 |
| 1.75%, 05/03/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 940511 |
| 2.95%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 216303 |
| 3.13%, 03/04/25 | &nbsp;&nbsp; CAD<br> 250<br>| 179077 |
| 4.13%, 11/28/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 339203 |
| 4.86%, 05/21/31 | &nbsp;&nbsp; CAD<br> 200<br>| 148762 |
| 5.88%, 04/23/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 225<br>| 305210 |
| McKesson Corp. |  |  |
| 1.50%, 11/17/25 | &nbsp;&nbsp; EUR<br> 600<br>| 643804 |
| 3.13%, 02/17/29 | &nbsp;&nbsp; GBP<br> 200<br>| 239874 |
| Medtronic Global Holdings SCA |  |  |
| 1.00%, 07/02/31 | &nbsp;&nbsp; EUR<br> 950<br>| 902418 |
| 1.13%, 03/07/27 | &nbsp;&nbsp; EUR<br> 920<br>| 961764 |
| 1.38%, 10/15/40 | &nbsp;&nbsp; EUR<br> 200<br>| 157529 |
| 1.75%, 07/02/49 | &nbsp;&nbsp; EUR<br> 500<br>| 368548 |
| 2.25%, 03/07/39 | &nbsp;&nbsp; EUR<br> 400<br>| 367227 |
| Medtronic Inc. |  |  |
| 3.65%, 10/15/29 | &nbsp;&nbsp; EUR<br> 125<br>| 139576 |
| 3.88%, 10/15/36 | &nbsp;&nbsp; EUR<br> 100<br>| 112400 |
| 4.15%, 10/15/43 | &nbsp;&nbsp; EUR<br> 100<br>| 113223 |
| 4.15%, 10/15/53 | &nbsp;&nbsp; EUR<br> 200<br>| 226589 |
| Merck & Co. Inc. |  |  |
| 0.50%, 11/02/24 | &nbsp;&nbsp; EUR<br> 450<br>| 489487 |
| 2.50%, 10/15/34 | &nbsp;&nbsp; EUR<br> 200<br>| 205294 |
| Metropolitan Life Global Funding I |  |  |
| 1.95%, 03/20/28<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 271448 |
| 3.50%, 09/30/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 501753 |
| 3.75%, 12/05/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 223752 |
| 3.75%, 12/07/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 447790 |
| 4.00%, 04/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 674306 |
| Microsoft Corp., 2.63%, 05/02/33 | &nbsp;&nbsp; EUR<br> 250<br>| 268894 |
| Mohawk Capital Finance SA, 1.75%, 06/12/27 | &nbsp;&nbsp; EUR<br> 200<br>| 211416 |
| Molson Coors International LP, 3.44%, <br> 07/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; CAD<br> 200<br>| 142851 |
| Mondelez International Holdings Netherlands BV, <br> 0.88%, 10/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 651305 |
| Mondelez International Inc. |  |  |
| 1.38%, 03/17/41 | &nbsp;&nbsp; EUR<br> 350<br>| 271695 |
| 1.63%, 03/08/27 | &nbsp;&nbsp; EUR<br> 281<br>| 297744 |
| 4.63%, 07/03/31 | &nbsp;&nbsp; CAD<br> 200<br>| 146419 |
| Moody's Corp., 0.95%, 02/25/30 | &nbsp;&nbsp; EUR<br> 350<br>| 341877 |
| Morgan Stanley |  |  |
| 0.50%, 02/07/31, <br> (3-mo. EURIBOR + 0.720%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 560589 |
| 1.10%, 04/29/33, <br> (3-mo. EURIBOR + 0.833%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 277<br>| 252427 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| 1.34%, 10/23/26, <br> (3-mo. EURIBOR + 0.834%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 830<br>| $888865 |
| 2.63%, 03/09/27 | &nbsp;&nbsp; GBP<br> 500<br>| 609972 |
| 2.95%, 05/07/32, <br> (3-mo. EURIBOR + 1.245%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 531<br>| 557106 |
| 3.79%, 03/21/30, <br> (3-mo. EURIBOR + 1.037%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 800<br>| 884779 |
| 3.96%, 03/21/35, <br> (3-mo. EURIBOR + 1.242%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 600<br>| 662406 |
| 4.66%, 03/02/29, <br> (3-mo. EURIBOR + 1.304%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 850<br>| 965323 |
| Series 0, 5.30%, Series 0, 10/24/35, <br> (1-day SONIA + 1.456%)<sup>(b)</sup><br>| &nbsp;&nbsp; GBP<br> 500<br>| 628175 |
| MSD Netherlands Capital BV |  |  |
| 3.50%, 05/30/37 | &nbsp;&nbsp; EUR<br> 300<br>| 327785 |
| 3.75%, 05/30/54 | &nbsp;&nbsp; EUR<br> 300<br>| 328454 |
| Nasdaq Inc. |  |  |
| 0.88%, 02/13/30 | &nbsp;&nbsp; EUR<br> 300<br>| 290255 |
| 0.90%, 07/30/33 | &nbsp;&nbsp; EUR<br> 200<br>| 174095 |
| 1.75%, 03/28/29 | &nbsp;&nbsp; EUR<br> 200<br>| 205585 |
| National Grid North America Inc. |  |  |
| 1.05%, 01/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 469801 |
| 3.63%, 09/03/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 657643 |
| 4.06%, 09/03/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 329678 |
| Nestle Capital Corp., 5.25%, 04/04/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 400<br>| 261810 |
| Nestle Finance International Ltd. |  |  |
| 0.00%, 06/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 886050 |
| 0.00%, 03/03/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 726<br>| 625809 |
| 0.25%, 06/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 336<br>| 327115 |
| 0.63%, 02/14/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 125<br>| 110440 |
| 0.88%, 06/14/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 275<br>| 207865 |
| 1.50%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 304813 |
| 1.50%, 03/29/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 232461 |
| 1.75%, 11/02/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 319489 |
| 3.00%, 01/23/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 547463 |
| Nestle Holdings Inc. |  |  |
| 0.25%, 10/04/27<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 900<br>| 1027145 |
| 2.19%, 01/26/29 | &nbsp;&nbsp; CAD<br> 600<br>| 408281 |
| 2.50%, 04/04/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 650<br>| 716748 |
| Netflix Inc., 3.88%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 788070 |
| New York Life Global Funding |  |  |
| 0.25%, 01/23/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 308383 |
| 0.25%, 10/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 294832 |
| 1.25%, 12/17/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 610<br>| 730810 |
| 3.63%, 06/07/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332380 |
| 5.25%, 06/30/26 | &nbsp;&nbsp; CAD<br> 400<br>| 294834 |
| NextEra Energy Capital Holdings Inc., 4.85%, <br> 04/30/31<br>| &nbsp;&nbsp; CAD<br> 200<br>| 148323 |
| Northwestern Mutual Global Funding, 4.88%, <br> 12/12/29<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 100<br>| 129456 |
| Omnicom Capital Holdings PLC, 2.25%, <br> 11/22/33<br>| &nbsp;&nbsp; GBP<br> 200<br>| 200603 |
| Omnicom Finance Holdings PLC, 3.70%, <br> 03/06/32<br>| &nbsp;&nbsp; EUR<br> 200<br>| 220206 |
| Oncor Electric Delivery Co. LLC, 3.50%, <br> 05/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 219637 |
| PepsiCo Inc. |  |  |
| 0.40%, 10/09/32 | &nbsp;&nbsp; EUR<br> 300<br>| 266120 |
| 1.05%, 10/09/50 | &nbsp;&nbsp; EUR<br> 200<br>| 136051 |
| 1.13%, 03/18/31 | &nbsp;&nbsp; EUR<br> 400<br>| 388782 |
| 3.55%, 07/22/34 | &nbsp;&nbsp; GBP<br> 200<br>| 232669 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Pfizer Inc., 6.50%, 06/03/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| $430075 |
| Philip Morris International Inc. |  |  |
| 1.45%, 08/01/39 | &nbsp;&nbsp; EUR<br> 400<br>| 302354 |
| 2.00%, 05/09/36 | &nbsp;&nbsp; EUR<br> 200<br>| 178790 |
| 2.88%, 03/03/26 | &nbsp;&nbsp; EUR<br> 550<br>| 596142 |
| PPG Industries Inc., 2.75%, 06/01/29 | &nbsp;&nbsp; EUR<br> 300<br>| 320826 |
| Procter & Gamble Co. (The) |  |  |
| 1.88%, 10/30/38 | &nbsp;&nbsp; EUR<br> 300<br>| 279894 |
| 3.20%, 04/29/34 | &nbsp;&nbsp; EUR<br> 600<br>| 659747 |
| Prologis Euro Finance LLC |  |  |
| 0.25%, 09/10/27 | &nbsp;&nbsp; EUR<br> 300<br>| 301415 |
| 0.50%, 02/16/32 | &nbsp;&nbsp; EUR<br> 250<br>| 219506 |
| 1.00%, 02/08/29 | &nbsp;&nbsp; EUR<br> 200<br>| 198861 |
| 1.00%, 02/06/35 | &nbsp;&nbsp; EUR<br> 350<br>| 292690 |
| 1.50%, 02/08/34 | &nbsp;&nbsp; EUR<br> 550<br>| 499098 |
| 1.50%, 09/10/49 | &nbsp;&nbsp; EUR<br> 100<br>| 66812 |
| 1.88%, 01/05/29 | &nbsp;&nbsp; EUR<br> 100<br>| 103087 |
| 4.25%, 01/31/43 | &nbsp;&nbsp; EUR<br> 250<br>| 279460 |
| Public Storage Operating Co., 0.88%, 01/24/32 | &nbsp;&nbsp; EUR<br> 200<br>| 181961 |
| PVH Corp., 3.13%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323832 |
| Realty Income Corp. |  |  |
| 2.50%, 01/14/42 | &nbsp;&nbsp; GBP<br> 100<br>| 83850 |
| 4.88%, 07/06/30 | &nbsp;&nbsp; EUR<br> 200<br>| 232004 |
| 5.75%, 12/05/31 | &nbsp;&nbsp; GBP<br> 300<br>| 390568 |
| Roche Finance Europe BV |  |  |
| 3.20%, 08/27/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332296 |
| 3.56%, 05/03/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 219258 |
| 3.59%, 12/04/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 563970 |
| Sanofi SA |  |  |
| 1.25%, 04/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 509041 |
| 1.25%, 03/21/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 280388 |
| 1.75%, 09/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 533970 |
| Series 12FX, 1.38%, 03/21/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 506416 |
| Series 8, 1.00%, 03/21/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 637500 |
| Schlumberger Finance BV |  |  |
| 0.50%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 448562 |
| 1.38%, 10/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 527419 |
| Schneider Electric SE |  |  |
| 0.25%, 03/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 389606 |
| 0.88%, 03/11/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215713 |
| 1.38%, 06/21/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 629637 |
| 3.38%, 09/03/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 435678 |
| 3.50%, 11/09/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 560192 |
| Simon International Finance SCA |  |  |
| 1.13%, 03/19/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 179460 |
| 1.25%, 05/13/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 270<br>| 290940 |
| Southern Co. (The), 1.88%, 09/15/81, <br> (5-year EUR Swap + 2.108%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 404079 |
| Southern Power Co., 1.85%, 06/20/26 | &nbsp;&nbsp; EUR<br> 250<br>| 267424 |
| Stellantis NV |  |  |
| 0.63%, 03/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 511397 |
| 0.75%, 01/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 581224 |
| 1.25%, 06/20/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 519110 |
| 2.75%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 400853 |
| Stryker Corp. |  |  |
| 2.63%, 11/30/30 | &nbsp;&nbsp; EUR<br> 560<br>| 592095 |
| 3.63%, 09/11/36 | &nbsp;&nbsp; EUR<br> 100<br>| 108802 |
| Swiss Re Finance U.K. PLC, 2.71%, 06/04/52, <br> (1-year EUR Swap + 3.750%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| 99381 |
| Tapestry Inc., 5.88%, 11/27/31 | &nbsp;&nbsp; EUR<br> 300<br>| 333572 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Thermo Fisher Scientific Finance I BV |  |  |
| 1.13%, 10/18/33 | &nbsp;&nbsp; EUR<br> 500<br>| $455200 |
| 1.63%, 10/18/41 | &nbsp;&nbsp; EUR<br> 600<br>| 485786 |
| Thermo Fisher Scientific Inc. |  |  |
| 0.50%, 03/01/28 | &nbsp;&nbsp; EUR<br> 575<br>| 579350 |
| 0.88%, 10/01/31 | &nbsp;&nbsp; EUR<br> 300<br>| 281239 |
| 1.40%, 01/23/26 | &nbsp;&nbsp; EUR<br> 200<br>| 214022 |
| 1.88%, 10/01/49 | &nbsp;&nbsp; EUR<br> 450<br>| 341795 |
| 2.38%, 04/15/32 | &nbsp;&nbsp; EUR<br> 250<br>| 257652 |
| Time Warner Cable LLC, 5.75%, 06/02/31 | &nbsp;&nbsp; GBP<br> 350<br>| 430562 |
| Timken Co. (The), 4.13%, 05/23/34 | &nbsp;&nbsp; EUR<br> 100<br>| 108741 |
| T-Mobile USA Inc., 3.85%, 05/08/36 | &nbsp;&nbsp; EUR<br> 200<br>| 221548 |
| Toyota Motor Credit Corp. |  |  |
| 0.13%, 11/05/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 400277 |
| 0.25%, 07/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 363951 |
| 0.63%, 11/21/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 420<br>| 456247 |
| 0.75%, 11/19/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 700<br>| 829789 |
| 4.05%, 09/13/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 563776 |
| 5.63%, 10/23/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 262767 |
| U.S. Bancorp, 4.01%, 05/21/32, <br> (3-mo. EURIBOR + 1.200%)<sup>(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 221628 |
| United Parcel Service Inc. |  |  |
| 1.63%, 11/15/25 | &nbsp;&nbsp; EUR<br> 550<br>| 591401 |
| 5.13%, 02/12/50<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 186143 |
| Upjohn Finance BV, 1.91%, 06/23/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 379720 |
| Utah Acquisition Sub Inc., 2.25%, 11/22/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 530<br>| 576111 |
| Ventas Canada Finance Ltd. |  |  |
| 2.45%, 01/04/27 | &nbsp;&nbsp; CAD<br> 200<br>| 139473 |
| 5.10%, 03/05/29 | &nbsp;&nbsp; CAD<br> 400<br>| 297774 |
| Verizon Communications Inc. |  |  |
| 0.38%, 03/22/29 | &nbsp;&nbsp; EUR<br> 527<br>| 511140 |
| 1.00%, 11/30/27<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 200<br>| 232044 |
| 1.30%, 05/18/33 | &nbsp;&nbsp; EUR<br> 450<br>| 411826 |
| 1.38%, 10/27/26 | &nbsp;&nbsp; EUR<br> 350<br>| 370091 |
| 1.38%, 11/02/28 | &nbsp;&nbsp; EUR<br> 500<br>| 511698 |
| 1.85%, 05/18/40 | &nbsp;&nbsp; EUR<br> 639<br>| 541326 |
| 2.38%, 03/22/28 | &nbsp;&nbsp; CAD<br> 200<br>| 137253 |
| 2.63%, 12/01/31 | &nbsp;&nbsp; EUR<br> 800<br>| 834501 |
| 3.00%, 03/23/31 | &nbsp;&nbsp; AUD<br> 200<br>| 112731 |
| 3.38%, 10/27/36 | &nbsp;&nbsp; GBP<br> 450<br>| 471134 |
| 4.05%, 02/17/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 131284 |
| 4.05%, 03/22/51 | &nbsp;&nbsp; CAD<br> 100<br>| 60733 |
| 4.50%, 08/17/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 130148 |
| 4.75%, 02/17/34 | &nbsp;&nbsp; GBP<br> 300<br>| 366780 |
| Series 20Y, 2.88%, 01/15/38 | &nbsp;&nbsp; EUR<br> 300<br>| 297944 |
| Series MPLE, 2.50%, 05/16/30 | &nbsp;&nbsp; CAD<br> 200<br>| 132633 |
| Visa Inc. |  |  |
| 2.00%, 06/15/29 | &nbsp;&nbsp; EUR<br> 600<br>| 629397 |
| 2.38%, 06/15/34 | &nbsp;&nbsp; EUR<br> 200<br>| 203744 |
| Walmart Inc. |  |  |
| 4.88%, 09/21/29 | &nbsp;&nbsp; EUR<br> 600<br>| 714791 |
| 5.63%, 03/27/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 550<br>| 744987 |
| 5.75%, 12/19/30 | &nbsp;&nbsp; GBP<br> 145<br>| 197766 |
| Walt Disney Co. (The), Series MPLE, 3.06%, <br> 03/30/27<br>| &nbsp;&nbsp; CAD<br> 200<br>| 141678 |
| Warnermedia Holdings Inc. |  |  |
| 4.30%, 01/17/30 | &nbsp;&nbsp; EUR<br> 200<br>| 219342 |
| 4.69%, 05/17/33 | &nbsp;&nbsp; EUR<br> 200<br>| 217910 |
| Wells Fargo & Co. |  |  |
| 1.00%, 02/02/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 519290 |
| 1.38%, 10/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 633088 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| 1.50%, 05/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| $261865 |
| 1.74%, 05/04/30, <br> (3-mo. EURIBOR + 1.850%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 620<br>| 629318 |
| 2.13%, 09/24/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 319409 |
| 3.47%, 04/26/28, <br> (1-day SONIA + 1.280%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; GBP<br> 550<br>| 680162 |
| 3.50%, 09/12/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 240610 |
| 3.90%, 07/22/32, <br> (3-mo. EURIBOR + 1.220%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 441245 |
| 5.08%, 04/26/28<sup>(b)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 147672 |
| Series MPLE, 2.49%, 02/18/27 | &nbsp;&nbsp; CAD<br> 300<br>| 209394 |
| Welltower OP LLC, 4.80%, 11/20/28 | &nbsp;&nbsp; GBP<br> 300<br>| 380184 |
| Whirlpool Finance Luxembourg SARL, 1.25%, <br> 11/02/26<br>| &nbsp;&nbsp; EUR<br> 600<br>| 630961 |
| WMG Acquisition Corp. |  |  |
| 2.25%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 98248 |
| 2.75%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 105031 |
| WP Carey Inc., 4.25%, 07/23/32 | &nbsp;&nbsp; EUR<br> 400<br>| 444718 |
| WPC Eurobond BV, 1.35%, 04/15/28 | &nbsp;&nbsp; EUR<br> 200<br>| 203276 |
|  |  | 147631902 |
| **Total Corporate Bonds & Notes — 18.5%** <br>**(Cost: $1,328,928,359)** | **Total Corporate Bonds & Notes — 18.5%** <br>**(Cost: $1,328,928,359)** | 1288053736 |
| **Foreign Government Obligations** | **Foreign Government Obligations** | **Foreign Government Obligations** |
| **Australia — 2.4%** | **Australia — 2.4%** | **Australia — 2.4%** |
| Airservices Australia, 5.40%, 11/15/28 | &nbsp;&nbsp; AUD<br> 200<br>| 134468 |
| Australia Government Bond |  |  |
| 0.25%, 11/21/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 3,178<br>| 2008051 |
| 0.50%, 09/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 8,040<br>| 4954529 |
| 1.00%, 12/21/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 4,000<br>| 2174598 |
| 1.00%, 11/21/31<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 10,400<br>| 5465102 |
| 1.25%, 05/21/32 | &nbsp;&nbsp; AUD<br> 6,836<br>| 3600769 |
| 1.50%, 06/21/31<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 7,675<br>| 4242037 |
| 1.75%, 11/21/32<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 5,801<br>| 3129856 |
| 1.75%, 06/21/51<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,926<br>| 1010312 |
| 2.25%, 05/21/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 7,176<br>| 4443318 |
| 2.50%, 05/21/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 6,431<br>| 3881372 |
| 2.75%, 11/21/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 7,899<br>| 5009563 |
| 2.75%, 11/21/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 6,314<br>| 3955048 |
| 2.75%, 11/21/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 6,232<br>| 3843911 |
| 2.75%, 06/21/35<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,465<br>| 818444 |
| 2.75%, 05/21/41<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,899<br>| 1462305 |
| 3.00%, 11/21/33<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 4,030<br>| 2359606 |
| 3.00%, 03/21/47<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 4,996<br>| 2425109 |
| 3.25%, 04/21/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 9,088<br>| 5778765 |
| 3.25%, 06/21/39<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,067<br>| 1151088 |
| 3.50%, 12/21/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 4,246<br>| 2563385 |
| 3.75%, 05/21/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 5,351<br>| 3316675 |
| 3.75%, 04/21/37<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,629<br>| 1588923 |
| 4.25%, 04/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 7,669<br>| 5058970 |
| 4.25%, 06/21/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 3,700<br>| 2387073 |
| 4.25%, 12/21/35<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 500<br>| 320093 |
| 4.50%, 04/21/33<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 5,010<br>| 3309268 |
| 4.75%, 04/21/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 28,641<br>| 19161538 |
| 4.75%, 06/21/54<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 3,150<br>| 1999345 |
| Australian Capital Territory |  |  |
| 1.25%, 05/22/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 170<br>| 109914 |
| 1.75%, 10/23/31 | &nbsp;&nbsp; AUD<br> 300<br>| 161235 |
| 2.50%, 05/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 60<br>| 38376 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| 4.50%, 10/23/34 | &nbsp;&nbsp; AUD<br> 1,000<br>| $615179 |
| 5.25%, 10/23/36<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 300<br>| 192976 |
| Canadian Government Bond, 1.50%, 06/01/31 | &nbsp;&nbsp; CAD<br> 2,970<br>| 1928468 |
| Housing Australia, 1.52%, 05/27/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 500<br>| 280176 |
| New South Wales Treasury Corp. |  |  |
| 1.25%, 11/20/30 | &nbsp;&nbsp; AUD<br> 1,530<br>| 828314 |
| 1.50%, 02/20/32<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,400<br>| 730584 |
| 1.75%, 03/20/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 5,825<br>| 2859166 |
| 2.00%, 03/20/31 | &nbsp;&nbsp; AUD<br> 1,000<br>| 559527 |
| 2.00%, 03/08/33 | &nbsp;&nbsp; AUD<br> 3,320<br>| 1732994 |
| 2.25%, 11/20/40 | &nbsp;&nbsp; AUD<br> 300<br>| 126962 |
| 2.25%, 05/07/41 | &nbsp;&nbsp; AUD<br> 1,050<br>| 437411 |
| 2.50%, 11/22/32<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 400<br>| 220827 |
| 3.00%, 05/20/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 5,600<br>| 3572803 |
| 3.00%, 03/20/28 | &nbsp;&nbsp; AUD<br> 4,040<br>| 2549737 |
| 3.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,390<br>| 868939 |
| 3.00%, 04/20/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,350<br>| 836977 |
| 4.00%, 05/20/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 800<br>| 524194 |
| 4.25%, 02/20/36<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,458<br>| 1464799 |
| 4.75%, 02/20/35<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,050<br>| 662910 |
| 4.75%, 09/20/35<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 125439 |
| 4.75%, 02/20/37<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 800<br>| 493386 |
| Northern Territory Treasury Corp. |  |  |
| 2.00%, 05/21/29 | &nbsp;&nbsp; AUD<br> 400<br>| 234872 |
| 2.50%, 05/21/32 | &nbsp;&nbsp; AUD<br> 900<br>| 493234 |
| 2.75%, 04/21/27 | &nbsp;&nbsp; AUD<br> 400<br>| 253479 |
| 4.10%, 11/21/42<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 200<br>| 103580 |
| 5.25%, 03/21/34 | &nbsp;&nbsp; AUD<br> 200<br>| 129067 |
| Queensland Treasury Corp. |  |  |
| 1.25%, 03/10/31<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 500<br>| 266120 |
| 1.50%, 03/02/32<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 700<br>| 363872 |
| 1.50%, 08/20/32<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 750<br>| 383179 |
| 1.75%, 08/21/31<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 1,710<br>| 925834 |
| 1.75%, 07/20/34<sup>(a)(e)</sup> | &nbsp;&nbsp; AUD<br> 2,530<br>| 1224608 |
| 2.00%, 08/22/33 | &nbsp;&nbsp; AUD<br> 550<br>| 282196 |
| 2.25%, 11/20/41<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 650<br>| 268599 |
| 2.50%, 03/06/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 3,320<br>| 2019099 |
| 2.75%, 08/20/27<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 950<br>| 599987 |
| 3.25%, 07/21/28<sup>(a)(e)</sup> | &nbsp;&nbsp; AUD<br> 1,323<br>| 838060 |
| 3.25%, 08/21/29<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 6,292<br>| 3918588 |
| 3.50%, 08/21/30<sup>(a)(e)</sup> | &nbsp;&nbsp; AUD<br> 1,300<br>| 805318 |
| 3.50%, 08/21/30<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 700<br>| 433633 |
| 4.20%, 02/20/47<sup>(a)(e)</sup> | &nbsp;&nbsp; AUD<br> 300<br>| 160500 |
| 4.50%, 03/09/33<sup>(a)(e)</sup> | &nbsp;&nbsp; AUD<br> 1,000<br>| 634718 |
| 4.75%, 07/21/25<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 2,680<br>| 1767906 |
| 4.75%, 02/02/34<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 1,000<br>| 639193 |
| 5.00%, 07/21/37<sup>(a)(e)</sup> | &nbsp;&nbsp; AUD<br> 850<br>| 533940 |
| 5.25%, 07/21/36<sup>(e)</sup> | &nbsp;&nbsp; AUD<br> 1,000<br>| 648557 |
| South Australian Government <br> Financing Authority<br>|  |  |
| 1.75%, 05/24/32<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,550<br>| 815712 |
| 1.75%, 05/24/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 300<br>| 146076 |
| 2.00%, 05/23/36<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 700<br>| 325087 |
| 2.75%, 05/24/30 | &nbsp;&nbsp; AUD<br> 1,000<br>| 598609 |
| 3.00%, 09/20/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 350<br>| 222340 |
| 4.75%, 05/24/38<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,740<br>| 1058799 |
| Tasmanian Public Finance Corp. |  |  |
| 2.00%, 01/24/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 550<br>| 317610 |
| 2.25%, 01/22/32<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 100<br>| 55052 |
| 4.75%, 01/25/35 | &nbsp;&nbsp; AUD<br> 400<br>| 250502 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Treasury Corp. of Victoria |  |  |
| 0.50%, 11/20/25 | &nbsp;&nbsp; AUD<br> 1,950<br>| $1233819 |
| 1.25%, 11/19/27 | &nbsp;&nbsp; AUD<br> 1,500<br>| 900934 |
| 1.50%, 11/20/30 | &nbsp;&nbsp; AUD<br> 7,460<br>| 4074309 |
| 1.50%, 09/10/31 | &nbsp;&nbsp; AUD<br> 4,340<br>| 2295744 |
| 2.00%, 09/17/35 | &nbsp;&nbsp; AUD<br> 500<br>| 236170 |
| 2.00%, 11/20/37 | &nbsp;&nbsp; AUD<br> 1,440<br>| 630140 |
| 2.25%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,700<br>| 1406143 |
| 2.25%, 11/20/34 | &nbsp;&nbsp; AUD<br> 4,160<br>| 2080398 |
| 2.25%, 11/20/41 | &nbsp;&nbsp; AUD<br> 300<br>| 122802 |
| 2.40%, 08/18/50 | &nbsp;&nbsp; AUD<br> 200<br>| 69299 |
| 2.50%, 10/22/29 | &nbsp;&nbsp; AUD<br> 2,890<br>| 1726825 |
| 3.00%, 10/20/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,760<br>| 1098152 |
| 4.25%, 12/20/32 | &nbsp;&nbsp; AUD<br> 3,120<br>| 1941740 |
| 4.75%, 09/15/36 | &nbsp;&nbsp; AUD<br> 1,600<br>| 983726 |
| 5.25%, 09/15/38 | &nbsp;&nbsp; AUD<br> 1,300<br>| 821533 |
| 5.25%, 09/15/44 | &nbsp;&nbsp; AUD<br> 200<br>| 123114 |
| 5.50%, 11/17/26 | &nbsp;&nbsp; AUD<br> 1,300<br>| 875476 |
| Western Australian Treasury Corp. |  |  |
| 1.50%, 10/22/30 | &nbsp;&nbsp; AUD<br> 500<br>| 276008 |
| 1.75%, 10/22/31 | &nbsp;&nbsp; AUD<br> 1,000<br>| 541237 |
| 2.00%, 10/24/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,250<br>| 623172 |
| 2.75%, 07/24/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 900<br>| 549650 |
| 3.00%, 10/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 900<br>| 578736 |
| 3.00%, 10/21/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 540<br>| 343007 |
| 3.25%, 07/20/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 750<br>| 475603 |
| 4.25%, 07/20/33 | &nbsp;&nbsp; AUD<br> 400<br>| 250295 |
| 4.50%, 07/21/32 | &nbsp;&nbsp; AUD<br> 700<br>| 449803 |
| 5.00%, 07/23/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 50<br>| 33052 |
|  |  | 169933627 |
| **Austria — 0.9%** | **Austria — 0.9%** | **Austria — 0.9%** |
| Autobahnen- und Schnell- <br> strassen-Finanzierungs AG<br>|  |  |
| 0.10%, 07/09/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 388121 |
| 2.75%, 10/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1079334 |
| KAF Karntner Ausgleichszahlungs-Fonds, <br> 0.00%, 01/14/32<sup>(a)(f)</sup><br>| &nbsp;&nbsp; EUR<br> 450<br>| 389373 |
| Republic of Austria Government Bond |  |  |
| 0.00%, 10/20/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,450<br>| 2416829 |
| 0.00%, 02/20/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,033<br>| 979918 |
| 0.00%, 02/20/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,662<br>| 1528583 |
| 0.00%, 10/20/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,033<br>| 694175 |
| 0.25%, 10/20/36<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,978<br>| 1564699 |
| 0.50%, 04/20/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,170<br>| 2254865 |
| 0.50%, 02/20/29<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,342<br>| 2340998 |
| 0.50%, 02/20/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 432<br>| 431815 |
| 0.70%, 04/20/71<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 710<br>| 352050 |
| 0.75%, 10/20/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,634<br>| 3831602 |
| 0.75%, 02/20/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,417<br>| 2487630 |
| 0.75%, 03/20/51<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,580<br>| 1007694 |
| 0.85%, 06/30/2120<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 285<br>| 137799 |
| 0.90%, 02/20/32<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,739<br>| 3574750 |
| 1.20%, 10/20/25<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,514<br>| 3772595 |
| 1.50%, 02/20/47<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,398<br>| 1949796 |
| 1.50%, 11/02/86<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 371<br>| 244604 |
| 1.85%, 05/23/49<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 958<br>| 823835 |
| 2.00%, 07/15/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,960<br>| 4276192 |
| 2.10%, 09/20/2117<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,491<br>| 1237628 |
| 2.40%, 05/23/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,196<br>| 1252616 |
| 2.90%, 05/23/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1324874 |
| 2.90%, 02/20/33<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,680<br>| 2934860 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Austria (continued)** | **Austria (continued)** | **Austria (continued)** |
| 2.90%, 02/20/34<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,500<br>| $1636475 |
| 3.15%, 06/20/44<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,558<br>| 1705873 |
| 3.15%, 10/20/53<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,030<br>| 1121734 |
| 3.20%, 07/15/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 970<br>| 1071498 |
| 3.45%, 10/20/30<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 5,640<br>| 6398034 |
| 3.80%, 01/26/62<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,375<br>| 1722071 |
| 4.15%, 03/15/37<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 3,140<br>| 3819418 |
| 4.85%, 03/15/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,014<br>| 2258325 |
| 6.25%, 07/15/27 | &nbsp;&nbsp; EUR<br> 958<br>| 1144815 |
| State of Lower Austria, 3.63%, 10/04/33 | &nbsp;&nbsp; EUR<br> 200<br>| 230918 |
|  |  | 64386396 |
| **Belgium — 1.3%** | **Belgium — 1.3%** | **Belgium — 1.3%** |
| Belfius Bank SA, 5.25%, 04/19/33, <br> (5-year EUR Swap + 2.450%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 226143 |
| Communaute Francaise de Belgique |  |  |
| 1.63%, 05/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 293263 |
| 3.38%, 06/22/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 547185 |
| Kingdom of Belgium Government Bond |  |  |
| 0.00%, 10/22/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,154<br>| 2181123 |
| 0.00%, 10/22/31<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,952<br>| 2656966 |
| 0.10%, 06/22/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,877<br>| 2719656 |
| 0.35%, 06/22/32<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,360<br>| 3039393 |
| 0.40%, 06/22/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,390<br>| 985209 |
| 0.65%, 06/22/71<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 830<br>| 374505 |
| 0.80%, 06/22/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,806<br>| 7101175 |
| 0.80%, 06/22/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,870<br>| 2940784 |
| 0.90%, 06/22/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,835<br>| 1851493 |
| 1.00%, 06/22/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,458<br>| 1550449 |
| 1.00%, 06/22/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,746<br>| 1702815 |
| 1.40%, 06/22/53<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,090<br>| 1427950 |
| 1.45%, 06/22/37<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,411<br>| 2168081 |
| 1.60%, 06/22/47<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,076<br>| 1623454 |
| 1.70%, 06/22/50<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,667<br>| 2048718 |
| 1.90%, 06/22/38<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,151<br>| 1076346 |
| 2.15%, 06/22/66<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,898<br>| 1512270 |
| 2.25%, 06/22/57<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,307<br>| 1079276 |
| 2.70%, 10/22/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,500<br>| 3824982 |
| 2.75%, 04/22/39<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 890<br>| 918295 |
| 2.75%, 04/22/39<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 457<br>| 471529 |
| 2.85%, 10/22/34<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 4,461<br>| 4801508 |
| 3.00%, 06/22/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,687<br>| 2951934 |
| 3.00%, 06/22/33<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,840<br>| 2021421 |
| 3.00%, 06/22/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,308<br>| 1431733 |
| 3.30%, 06/22/54<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,253<br>| 2357120 |
| 3.45%, 06/22/43<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,154<br>| 1272490 |
| 3.50%, 06/22/55<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,350<br>| 1459485 |
| 3.75%, 06/22/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,399<br>| 3900045 |
| 4.00%, 03/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,970<br>| 2312423 |
| 4.25%, 03/28/41<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,905<br>| 4762359 |
| 5.00%, 03/28/35<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 977<br>| 1248617 |
| 5.50%, 03/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,997<br>| 2381397 |
| Series 86, 1.25%, 04/22/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,951<br>| 4760862 |
| Ministeries Van de Vlaamse Gemeenschap |  |  |
| 0.13%, 10/15/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 311294 |
| 0.30%, 10/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 452150 |
| 0.88%, 03/21/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 196134 |
| 1.00%, 10/13/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 337237 |
| 1.50%, 07/12/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 86572 |
| 1.50%, 04/11/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 77802 |
| 2.75%, 10/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,100<br>| 2275572 |
| 3.00%, 10/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 323237 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Belgium (continued)** | **Belgium (continued)** | **Belgium (continued)** |
| 3.13%, 06/22/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| $652061 |
| 3.25%, 01/12/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 209212 |
| 3.50%, 06/22/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 324730 |
| 3.63%, 06/22/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 562851 |
| 4.00%, 09/26/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 809600 |
| Region Wallonne Belgium |  |  |
| 0.25%, 05/03/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 523461 |
| 1.25%, 05/03/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 453308 |
| 1.25%, 06/22/71<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 109115 |
| 3.50%, 03/15/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 528150 |
| 3.75%, 04/22/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 444113 |
| 3.90%, 06/22/54<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 328453 |
|  |  | 88987506 |
| **Bulgaria — 0.0%** | **Bulgaria — 0.0%** | **Bulgaria — 0.0%** |
| Bulgaria Government International Bond |  |  |
| 0.38%, 09/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 371403 |
| 1.38%, 09/23/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 130442 |
| 2.63%, 03/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108228 |
| 3.00%, 03/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218276 |
| 3.13%, 03/26/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104225 |
| 3.63%, 09/05/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 443783 |
| 4.13%, 09/23/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 228447 |
| 4.38%, 05/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 510<br>| 592965 |
| 4.63%, 09/23/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 355215 |
| 4.88%, 05/13/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 537828 |
|  |  | 3090812 |
| **Canada — 4.3%** | **Canada — 4.3%** | **Canada — 4.3%** |
| British Columbia Investment Management Corp., <br> 3.40%, 06/02/30<br>| &nbsp;&nbsp; CAD<br> 1,000<br>| 717578 |
| Canada Government Bond, 1.50%, 12/01/31 | &nbsp;&nbsp; CAD<br> 1,420<br>| 913762 |
| Canada Housing Trust No. 1 |  |  |
| 0.95%, 06/15/25<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 2,100<br>| 1485939 |
| 1.10%, 12/15/26<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,000<br>| 688547 |
| 1.10%, 03/15/31<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 900<br>| 564008 |
| 1.25%, 06/15/26<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,800<br>| 1254335 |
| 1.40%, 03/15/31<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,060<br>| 677288 |
| 1.55%, 12/15/26<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,800<br>| 1251232 |
| 1.60%, 12/15/31<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 650<br>| 413800 |
| 1.75%, 06/15/30<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 970<br>| 643049 |
| 1.90%, 09/15/26<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,160<br>| 814526 |
| 1.90%, 03/15/31<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,100<br>| 725348 |
| 1.95%, 12/15/25<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,750<br>| 1239824 |
| 2.10%, 09/15/29<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 2,590<br>| 1769391 |
| 2.15%, 12/15/31<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,500<br>| 992084 |
| 2.25%, 12/15/25<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 100<br>| 71083 |
| 2.35%, 06/15/27<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,500<br>| 1056699 |
| 2.35%, 03/15/28<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 350<br>| 245212 |
| 2.45%, 12/15/31<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,000<br>| 674907 |
| 2.55%, 03/15/25<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 910<br>| 651193 |
| 2.65%, 03/15/28<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,300<br>| 919752 |
| 2.65%, 12/15/28<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 920<br>| 647974 |
| 2.90%, 12/15/29<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,600<br>| 1132001 |
| 3.10%, 06/15/28<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 2,000<br>| 1434848 |
| 3.55%, 09/15/32<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 2,790<br>| 2014944 |
| 3.60%, 12/15/27<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,000<br>| 728502 |
| 3.65%, 06/15/33<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 2,000<br>| 1449615 |
| 3.70%, 06/15/29<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 2,000<br>| 1468291 |
| 3.80%, 06/15/27<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,000<br>| 730460 |
| 3.95%, 06/15/28<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 369078 |
| 4.15%, 06/15/33<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 1,570<br>| 1179437 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.25%, 03/15/34<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 4,600<br>| $3480829 |
| Canadian Government Bond |  |  |
| 0.25%, 03/01/26 | &nbsp;&nbsp; CAD<br> 10,821<br>| 7483054 |
| 0.50%, 12/01/30 | &nbsp;&nbsp; CAD<br> 9,859<br>| 6077080 |
| 1.00%, 09/01/26 | &nbsp;&nbsp; CAD<br> 8,060<br>| 5580371 |
| 1.00%, 06/01/27 | &nbsp;&nbsp; CAD<br> 5,577<br>| 3815755 |
| 1.25%, 03/01/27 | &nbsp;&nbsp; CAD<br> 11,719<br>| 8084194 |
| 1.25%, 06/01/30 | &nbsp;&nbsp; CAD<br> 9,812<br>| 6397186 |
| 1.50%, 06/01/31 | &nbsp;&nbsp; CAD<br> 4,454<br>| 2892052 |
| 1.50%, 12/01/31 | &nbsp;&nbsp; CAD<br> 4,967<br>| 3196238 |
| 1.75%, 12/01/53 | &nbsp;&nbsp; CAD<br> 6,228<br>| 3194509 |
| 2.00%, 06/01/28 | &nbsp;&nbsp; CAD<br> 5,000<br>| 3475214 |
| 2.00%, 06/01/32 | &nbsp;&nbsp; CAD<br> 4,961<br>| 3284845 |
| 2.00%, 12/01/51 | &nbsp;&nbsp; CAD<br> 8,509<br>| 4686921 |
| 2.25%, 06/01/29 | &nbsp;&nbsp; CAD<br> 1,930<br>| 1346744 |
| 2.25%, 12/01/29 | &nbsp;&nbsp; CAD<br> 1,390<br>| 962995 |
| 2.50%, 12/01/32 | &nbsp;&nbsp; CAD<br> 4,290<br>| 2931927 |
| 2.75%, 09/01/27 | &nbsp;&nbsp; CAD<br> 3,602<br>| 2569226 |
| 2.75%, 06/01/33 | &nbsp;&nbsp; CAD<br> 4,560<br>| 3167999 |
| 2.75%, 12/01/48 | &nbsp;&nbsp; CAD<br> 2,188<br>| 1428406 |
| 2.75%, 12/01/55 | &nbsp;&nbsp; CAD<br> 4,781<br>| 3080180 |
| 2.75%, 12/01/64 | &nbsp;&nbsp; CAD<br> 1,829<br>| 1183658 |
| 3.00%, 04/01/26 | &nbsp;&nbsp; CAD<br> 5,050<br>| 3620070 |
| 3.00%, 06/01/34 | &nbsp;&nbsp; CAD<br> 1,908<br>| 1346070 |
| 3.25%, 09/01/28 | &nbsp;&nbsp; CAD<br> 3,856<br>| 2794240 |
| 3.25%, 12/01/33 | &nbsp;&nbsp; CAD<br> 3,325<br>| 2397043 |
| 3.25%, 12/01/34 | &nbsp;&nbsp; CAD<br> 2,120<br>| 1524467 |
| 3.50%, 03/01/28 | &nbsp;&nbsp; CAD<br> 6,610<br>| 4822937 |
| 3.50%, 09/01/29 | &nbsp;&nbsp; CAD<br> 4,710<br>| 3455468 |
| 3.50%, 03/01/34 | &nbsp;&nbsp; CAD<br> 6,410<br>| 4709669 |
| 3.50%, 12/01/45 | &nbsp;&nbsp; CAD<br> 6,920<br>| 5126159 |
| 4.00%, 08/01/26 | &nbsp;&nbsp; CAD<br> 2,820<br>| 2055633 |
| 4.00%, 03/01/29 | &nbsp;&nbsp; CAD<br> 5,280<br>| 3943882 |
| 4.00%, 06/01/41 | &nbsp;&nbsp; CAD<br> 4,553<br>| 3575453 |
| 4.50%, 11/01/25 | &nbsp;&nbsp; CAD<br> 2,450<br>| 1781409 |
| 4.50%, 02/01/26 | &nbsp;&nbsp; CAD<br> 3,220<br>| 2349856 |
| 5.00%, 06/01/37 | &nbsp;&nbsp; CAD<br> 4,969<br>| 4204698 |
| 5.75%, 06/01/33 | &nbsp;&nbsp; CAD<br> 2,790<br>| 2381445 |
| CDP Financial Inc., 3.00%, 04/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1103590 |
| City of Montreal Canada |  |  |
| 2.40%, 12/01/41 | &nbsp;&nbsp; CAD<br> 200<br>| 108737 |
| 3.00%, 09/01/27 | &nbsp;&nbsp; CAD<br> 300<br>| 213668 |
| 3.15%, 12/01/36 | &nbsp;&nbsp; CAD<br> 250<br>| 160749 |
| 3.50%, 12/01/38 | &nbsp;&nbsp; CAD<br> 700<br>| 456141 |
| 3.90%, 09/01/34 | &nbsp;&nbsp; CAD<br> 200<br>| 141765 |
| 4.25%, 09/01/33 | &nbsp;&nbsp; CAD<br> 200<br>| 146688 |
| City of Ottawa Ontario |  |  |
| 2.50%, 05/11/51 | &nbsp;&nbsp; CAD<br> 100<br>| 50269 |
| 3.10%, 07/27/48 | &nbsp;&nbsp; CAD<br> 100<br>| 57421 |
| 3.75%, 10/02/34 | &nbsp;&nbsp; CAD<br> 300<br>| 211150 |
| 4.10%, 12/06/52 | &nbsp;&nbsp; CAD<br> 200<br>| 135931 |
| City of Toronto Canada |  |  |
| 2.15%, 08/25/40 | &nbsp;&nbsp; CAD<br> 400<br>| 213869 |
| 2.40%, 06/07/27 | &nbsp;&nbsp; CAD<br> 250<br>| 175845 |
| 2.80%, 11/22/49 | &nbsp;&nbsp; CAD<br> 200<br>| 107423 |
| 2.90%, 04/29/51 | &nbsp;&nbsp; CAD<br> 250<br>| 136735 |
| 2.95%, 04/28/35 | &nbsp;&nbsp; CAD<br> 50<br>| 32478 |
| 3.20%, 08/01/48 | &nbsp;&nbsp; CAD<br> 100<br>| 58618 |
| 3.25%, 04/20/32 | &nbsp;&nbsp; CAD<br> 400<br>| 278802 |
| 4.30%, 06/01/52 | &nbsp;&nbsp; CAD<br> 100<br>| 70207 |
| 4.55%, 10/29/54 | &nbsp;&nbsp; CAD<br> 400<br>| 292136 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.90%, 05/15/54 | &nbsp;&nbsp; CAD<br> 200<br>| $154214 |
| CPPIB Capital Inc. |  |  |
| 0.25%, 01/18/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 290<br>| 199051 |
| 0.75%, 02/02/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 414990 |
| 1.13%, 12/14/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 272794 |
| 1.63%, 10/22/71<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 250<br>| 124946 |
| 1.95%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 337676 |
| 3.25%, 03/08/28<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 1,000<br>| 719396 |
| 3.60%, 06/02/29<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 1,000<br>| 728332 |
| 3.95%, 06/02/32<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 366519 |
| 4.30%, 06/02/34<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 400<br>| 298033 |
| 4.75%, 06/02/33<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 385232 |
| 5.20%, 03/04/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 400<br>| 262656 |
| Export Development Canada |  |  |
| 0.25%, 03/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 633567 |
| 2.63%, 01/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 545411 |
| 2.88%, 01/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1099548 |
| 3.88%, 10/03/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 504993 |
| 4.00%, 02/19/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 127848 |
| Government of Newfoundland and Labrador |  |  |
| 4.15%, 06/02/33 | &nbsp;&nbsp; CAD<br> 1,000<br>| 729930 |
| 4.60%, 10/17/55 | &nbsp;&nbsp; CAD<br> 200<br>| 146306 |
| Hydro-Quebec |  |  |
| 2.00%, 09/01/28 | &nbsp;&nbsp; CAD<br> 500<br>| 343183 |
| 2.10%, 02/15/60 | &nbsp;&nbsp; CAD<br> 1,500<br>| 668077 |
| 3.40%, 09/01/29 | &nbsp;&nbsp; CAD<br> 700<br>| 505102 |
| 4.00%, 02/15/55 | &nbsp;&nbsp; CAD<br> 1,890<br>| 1304899 |
| 4.00%, 02/15/63 | &nbsp;&nbsp; CAD<br> 1,800<br>| 1249530 |
| 4.00%, 02/15/65 | &nbsp;&nbsp; CAD<br> 100<br>| 69441 |
| 5.00%, 02/15/45 | &nbsp;&nbsp; CAD<br> 1,100<br>| 866669 |
| 5.00%, 02/15/50 | &nbsp;&nbsp; CAD<br> 1,120<br>| 897702 |
| 6.00%, 08/15/31 | &nbsp;&nbsp; CAD<br> 200<br>| 164386 |
| 6.00%, 02/15/40 | &nbsp;&nbsp; CAD<br> 910<br>| 785705 |
| 6.50%, 02/15/35 | &nbsp;&nbsp; CAD<br> 400<br>| 348310 |
| Labrador-Island Link Funding Trust |  |  |
| 3.85%, 12/01/53<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 204410 |
| Series A, 3.76%, 06/01/33<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 215987 |
| Municipal Finance Authority of British Columbia |  |  |
| 3.30%, 04/08/32 | &nbsp;&nbsp; CAD<br> 200<br>| 140130 |
| 3.35%, 06/01/27 | &nbsp;&nbsp; CAD<br> 500<br>| 360344 |
| 4.05%, 12/03/33 | &nbsp;&nbsp; CAD<br> 200<br>| 145686 |
| 4.50%, 12/03/28 | &nbsp;&nbsp; CAD<br> 1,000<br>| 751628 |
| Muskrat Falls/Labrador Transmission Assets <br> Funding Trust<br>|  |  |
| 3.38%, 06/01/57 | &nbsp;&nbsp; CAD<br> 200<br>| 124366 |
| Series A, 3.63%, 06/01/29<sup>(e)</sup> | &nbsp;&nbsp; CAD<br> 300<br>| 219006 |
| OMERS Finance Trust, 3.13%, 01/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 440315 |
| Ontario Electricity Financial Corp., 8.25%, <br> 06/22/26<br>| &nbsp;&nbsp; CAD<br> 300<br>| 232498 |
| Ontario Teachers' Finance Trust |  |  |
| 0.10%, 05/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 99203 |
| 0.90%, 05/20/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 310<br>| 236421 |
| 1.85%, 05/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 601809 |
| OPB Finance Trust, Series F 2.98%, 01/25/27 | &nbsp;&nbsp; CAD<br> 400<br>| 284394 |
| Province of Alberta Canada |  |  |
| 0.63%, 01/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212567 |
| 1.65%, 06/01/31 | &nbsp;&nbsp; CAD<br> 1,300<br>| 832396 |
| 2.05%, 06/01/30 | &nbsp;&nbsp; CAD<br> 2,100<br>| 1408063 |
| 2.20%, 06/01/26 | &nbsp;&nbsp; CAD<br> 300<br>| 212324 |
| 2.35%, 06/01/25 | &nbsp;&nbsp; CAD<br> 350<br>| 249837 |
| 2.55%, 06/01/27 | &nbsp;&nbsp; CAD<br> 1,080<br>| 764038 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 2.90%, 12/01/28 | &nbsp;&nbsp; CAD<br> 1,050<br>| $745055 |
| 2.90%, 09/20/29 | &nbsp;&nbsp; CAD<br> 300<br>| 211783 |
| 2.95%, 06/01/52 | &nbsp;&nbsp; CAD<br> 470<br>| 268297 |
| 3.05%, 12/01/48 | &nbsp;&nbsp; CAD<br> 1,030<br>| 605375 |
| 3.10%, 06/01/50 | &nbsp;&nbsp; CAD<br> 2,140<br>| 1264575 |
| 3.13%, 10/16/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1103115 |
| 3.30%, 12/01/46 | &nbsp;&nbsp; CAD<br> 1,390<br>| 861313 |
| 3.45%, 12/01/43 | &nbsp;&nbsp; CAD<br> 25<br>| 16101 |
| 3.90%, 12/01/33 | &nbsp;&nbsp; CAD<br> 200<br>| 144669 |
| 4.10%, 06/01/29 | &nbsp;&nbsp; CAD<br> 1,000<br>| 743785 |
| 4.15%, 06/01/33 | &nbsp;&nbsp; CAD<br> 900<br>| 664535 |
| 4.45%, 12/01/54 | &nbsp;&nbsp; CAD<br> 300<br>| 224465 |
| Province of British Columbia Canada |  |  |
| 0.88%, 10/08/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 320914 |
| 1.55%, 06/18/31 | &nbsp;&nbsp; CAD<br> 500<br>| 317510 |
| 2.20%, 06/18/30 | &nbsp;&nbsp; CAD<br> 1,540<br>| 1039628 |
| 2.30%, 06/18/26 | &nbsp;&nbsp; CAD<br> 200<br>| 141722 |
| 2.55%, 06/18/27 | &nbsp;&nbsp; CAD<br> 300<br>| 212207 |
| 2.75%, 06/18/52 | &nbsp;&nbsp; CAD<br> 1,450<br>| 791566 |
| 2.80%, 06/18/48 | &nbsp;&nbsp; CAD<br> 1,170<br>| 657197 |
| 2.85%, 06/18/25 | &nbsp;&nbsp; CAD<br> 550<br>| 393682 |
| 2.95%, 12/18/28 | &nbsp;&nbsp; CAD<br> 200<br>| 142152 |
| 2.95%, 06/18/50 | &nbsp;&nbsp; CAD<br> 820<br>| 468976 |
| 3.00%, 07/24/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 436318 |
| 3.20%, 06/18/32 | &nbsp;&nbsp; CAD<br> 500<br>| 348039 |
| 3.20%, 06/18/44 | &nbsp;&nbsp; CAD<br> 1,400<br>| 864003 |
| 3.40%, 05/24/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 558990 |
| 3.55%, 06/18/33 | &nbsp;&nbsp; CAD<br> 800<br>| 564661 |
| 4.15%, 06/18/34 | &nbsp;&nbsp; CAD<br> 900<br>| 660382 |
| 4.25%, 12/18/53 | &nbsp;&nbsp; CAD<br> 600<br>| 433227 |
| 4.30%, 06/18/42 | &nbsp;&nbsp; CAD<br> 1,510<br>| 1092984 |
| 4.45%, 12/18/55 | &nbsp;&nbsp; CAD<br> 400<br>| 298696 |
| 4.50%, 06/18/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 1,000<br>| 1283369 |
| 4.95%, 06/18/40 | &nbsp;&nbsp; CAD<br> 170<br>| 132495 |
| 5.00%, 06/18/31 | &nbsp;&nbsp; CAD<br> 120<br>| 93656 |
| 5.70%, 06/18/29 | &nbsp;&nbsp; CAD<br> 1,000<br>| 792728 |
| 6.35%, 06/18/31 | &nbsp;&nbsp; CAD<br> 40<br>| 33470 |
| Province of Manitoba Canada |  |  |
| 2.05%, 06/02/30 | &nbsp;&nbsp; CAD<br> 500<br>| 334632 |
| 2.05%, 06/02/31 | &nbsp;&nbsp; CAD<br> 600<br>| 393281 |
| 2.05%, 09/05/52 | &nbsp;&nbsp; CAD<br> 870<br>| 395943 |
| 2.45%, 06/02/25 | &nbsp;&nbsp; CAD<br> 50<br>| 35711 |
| 2.55%, 06/02/26 | &nbsp;&nbsp; CAD<br> 200<br>| 142271 |
| 2.60%, 06/02/27 | &nbsp;&nbsp; CAD<br> 200<br>| 141621 |
| 2.75%, 06/02/29 | &nbsp;&nbsp; CAD<br> 300<br>| 210657 |
| 2.85%, 09/05/46 | &nbsp;&nbsp; CAD<br> 590<br>| 333660 |
| 3.00%, 06/02/28 | &nbsp;&nbsp; CAD<br> 300<br>| 213877 |
| 3.20%, 03/05/50 | &nbsp;&nbsp; CAD<br> 630<br>| 373392 |
| 3.25%, 09/05/29 | &nbsp;&nbsp; CAD<br> 600<br>| 429666 |
| 3.40%, 09/05/48 | &nbsp;&nbsp; CAD<br> 690<br>| 425065 |
| 3.80%, 09/05/53 | &nbsp;&nbsp; CAD<br> 500<br>| 328075 |
| 3.90%, 12/02/32 | &nbsp;&nbsp; CAD<br> 600<br>| 435909 |
| 4.10%, 03/05/41 | &nbsp;&nbsp; CAD<br> 400<br>| 280244 |
| 4.25%, 06/02/34 | &nbsp;&nbsp; CAD<br> 500<br>| 369111 |
| 4.40%, 09/05/55 | &nbsp;&nbsp; CAD<br> 200<br>| 145400 |
| 4.60%, 03/05/38 | &nbsp;&nbsp; CAD<br> 70<br>| 52417 |
| 6.30%, 03/05/31 | &nbsp;&nbsp; CAD<br> 300<br>| 248943 |
| Province of New Brunswick Canada |  |  |
| 1.80%, 08/14/25 | &nbsp;&nbsp; CAD<br> 500<br>| 354848 |
| 2.35%, 08/14/27 | &nbsp;&nbsp; CAD<br> 570<br>| 400340 |
| 2.60%, 08/14/26 | &nbsp;&nbsp; CAD<br> 200<br>| 142162 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 3.05%, 08/14/50 | &nbsp;&nbsp; CAD<br> 850<br>| $490449 |
| 3.10%, 08/14/28 | &nbsp;&nbsp; CAD<br> 200<br>| 142937 |
| 3.10%, 08/14/48 | &nbsp;&nbsp; CAD<br> 300<br>| 176062 |
| 3.55%, 06/03/43 | &nbsp;&nbsp; CAD<br> 210<br>| 136032 |
| 3.80%, 08/14/45 | &nbsp;&nbsp; CAD<br> 200<br>| 133067 |
| 3.95%, 08/14/32 | &nbsp;&nbsp; CAD<br> 500<br>| 364914 |
| 4.55%, 03/26/37 | &nbsp;&nbsp; CAD<br> 60<br>| 44837 |
| 4.65%, 09/26/35 | &nbsp;&nbsp; CAD<br> 400<br>| 303104 |
| 4.80%, 09/26/39 | &nbsp;&nbsp; CAD<br> 300<br>| 228533 |
| 5.00%, 08/14/54 | &nbsp;&nbsp; CAD<br> 200<br>| 160833 |
| Province of Newfoundland and Labrador Canada |  |  |
| 1.75%, 06/02/30 | &nbsp;&nbsp; CAD<br> 600<br>| 392696 |
| 2.05%, 06/02/31 | &nbsp;&nbsp; CAD<br> 300<br>| 195207 |
| 2.65%, 10/17/50 | &nbsp;&nbsp; CAD<br> 400<br>| 205608 |
| 2.85%, 06/02/28 | &nbsp;&nbsp; CAD<br> 500<br>| 353611 |
| 2.85%, 06/02/29 | &nbsp;&nbsp; CAD<br> 870<br>| 611042 |
| 3.00%, 06/02/26 | &nbsp;&nbsp; CAD<br> 130<br>| 93051 |
| 3.15%, 12/02/52 | &nbsp;&nbsp; CAD<br> 300<br>| 169503 |
| 3.30%, 10/17/46 | &nbsp;&nbsp; CAD<br> 250<br>| 148427 |
| 3.70%, 10/17/48 | &nbsp;&nbsp; CAD<br> 320<br>| 201681 |
| Province of Nova Scotia Canada |  |  |
| 2.00%, 09/01/30 | &nbsp;&nbsp; CAD<br> 500<br>| 332669 |
| 2.10%, 06/01/27 | &nbsp;&nbsp; CAD<br> 600<br>| 419563 |
| 3.15%, 12/01/51 | &nbsp;&nbsp; CAD<br> 960<br>| 562637 |
| 3.50%, 06/02/62 | &nbsp;&nbsp; CAD<br> 30<br>| 18456 |
| 4.05%, 06/01/33 | &nbsp;&nbsp; CAD<br> 200<br>| 146048 |
| 4.40%, 06/01/42 | &nbsp;&nbsp; CAD<br> 220<br>| 160019 |
| 4.70%, 06/01/41 | &nbsp;&nbsp; CAD<br> 200<br>| 150792 |
| 4.75%, 12/01/54 | &nbsp;&nbsp; CAD<br> 300<br>| 231620 |
| 5.80%, 06/01/33 | &nbsp;&nbsp; CAD<br> 300<br>| 246236 |
| Province of Ontario Canada |  |  |
| 0.00%, 11/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 367637 |
| 0.25%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 320<br>| 375992 |
| 0.38%, 04/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206266 |
| 1.05%, 09/08/27 | &nbsp;&nbsp; CAD<br> 300<br>| 203228 |
| 1.35%, 09/08/26 | &nbsp;&nbsp; CAD<br> 300<br>| 208449 |
| 1.35%, 12/02/30 | &nbsp;&nbsp; CAD<br> 1,500<br>| 954675 |
| 1.55%, 11/01/29 | &nbsp;&nbsp; CAD<br> 2,830<br>| 1870823 |
| 1.85%, 02/01/27 | &nbsp;&nbsp; CAD<br> 600<br>| 418791 |
| 1.90%, 12/02/51 | &nbsp;&nbsp; CAD<br> 2,020<br>| 918115 |
| 2.05%, 06/02/30 | &nbsp;&nbsp; CAD<br> 1,550<br>| 1039220 |
| 2.15%, 06/02/31 | &nbsp;&nbsp; CAD<br> 900<br>| 595043 |
| 2.25%, 12/02/31 | &nbsp;&nbsp; CAD<br> 1,000<br>| 658875 |
| 2.40%, 06/02/26 | &nbsp;&nbsp; CAD<br> 2,860<br>| 2030492 |
| 2.55%, 12/02/52 | &nbsp;&nbsp; CAD<br> 1,500<br>| 788217 |
| 2.60%, 06/02/27 | &nbsp;&nbsp; CAD<br> 2,360<br>| 1671590 |
| 2.65%, 12/02/50 | &nbsp;&nbsp; CAD<br> 2,300<br>| 1246721 |
| 2.70%, 06/02/29 | &nbsp;&nbsp; CAD<br> 1,460<br>| 1023777 |
| 2.80%, 06/02/48 | &nbsp;&nbsp; CAD<br> 2,640<br>| 1493686 |
| 2.90%, 06/02/28 | &nbsp;&nbsp; CAD<br> 2,500<br>| 1777704 |
| 2.90%, 12/02/46 | &nbsp;&nbsp; CAD<br> 2,600<br>| 1511970 |
| 2.90%, 06/02/49 | &nbsp;&nbsp; CAD<br> 3,160<br>| 1810541 |
| 3.10%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 880665 |
| 3.40%, 09/08/28 | &nbsp;&nbsp; CAD<br> 400<br>| 289253 |
| 3.45%, 06/02/45 | &nbsp;&nbsp; CAD<br> 5,560<br>| 3566951 |
| 3.50%, 06/02/43 | &nbsp;&nbsp; CAD<br> 1,620<br>| 1055713 |
| 3.60%, 03/08/28 | &nbsp;&nbsp; CAD<br> 1,000<br>| 727529 |
| 3.65%, 06/02/33 | &nbsp;&nbsp; CAD<br> 2,000<br>| 1424122 |
| 3.75%, 06/02/32 | &nbsp;&nbsp; CAD<br> 3,900<br>| 2819897 |
| 3.75%, 12/02/53 | &nbsp;&nbsp; CAD<br> 2,330<br>| 1554448 |
| 4.10%, 03/04/33 | &nbsp;&nbsp; CAD<br> 700<br>| 515745 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.15%, 06/02/34 | &nbsp;&nbsp; CAD<br> 5,070<br>| $3727092 |
| 4.15%, 12/02/54 | &nbsp;&nbsp; CAD<br> 2,700<br>| 1928203 |
| 4.60%, 06/02/39 | &nbsp;&nbsp; CAD<br> 2,540<br>| 1911259 |
| 4.60%, 12/02/55 | &nbsp;&nbsp; CAD<br> 1,350<br>| 1040455 |
| 4.65%, 06/02/41 | &nbsp;&nbsp; CAD<br> 3,250<br>| 2463426 |
| 4.70%, 06/02/37 | &nbsp;&nbsp; CAD<br> 1,703<br>| 1300462 |
| 5.60%, 06/02/35 | &nbsp;&nbsp; CAD<br> 500<br>| 410123 |
| 5.85%, 03/08/33 | &nbsp;&nbsp; CAD<br> 290<br>| 238919 |
| 6.20%, 06/02/31 | &nbsp;&nbsp; CAD<br> 580<br>| 481665 |
| 6.50%, 03/08/29 | &nbsp;&nbsp; CAD<br> 50<br>| 40596 |
| Province of Prince Edward Island Canada, <br> 2.65%, 12/01/51<br>| &nbsp;&nbsp; CAD<br> 300<br>| 156580 |
| Province of Quebec Canada |  |  |
| 0.25%, 05/05/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 507214 |
| 0.50%, 01/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 552531 |
| 0.88%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216581 |
| 0.88%, 05/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 573373 |
| 0.88%, 07/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 153050 |
| 1.13%, 10/28/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 321452 |
| 1.90%, 09/01/30 | &nbsp;&nbsp; CAD<br> 2,160<br>| 1429671 |
| 2.30%, 09/01/29 | &nbsp;&nbsp; CAD<br> 2,010<br>| 1382226 |
| 2.50%, 09/01/26 | &nbsp;&nbsp; CAD<br> 1,800<br>| 1277353 |
| 2.60%, 07/06/25 | &nbsp;&nbsp; CAD<br> 300<br>| 214375 |
| 2.75%, 09/01/25 | &nbsp;&nbsp; CAD<br> 250<br>| 178717 |
| 2.75%, 09/01/27 | &nbsp;&nbsp; CAD<br> 500<br>| 355173 |
| 2.75%, 09/01/28 | &nbsp;&nbsp; CAD<br> 1,590<br>| 1123354 |
| 2.85%, 12/01/53 | &nbsp;&nbsp; CAD<br> 2,420<br>| 1347324 |
| 3.10%, 12/01/51 | &nbsp;&nbsp; CAD<br> 1,890<br>| 1112683 |
| 3.13%, 03/27/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1098099 |
| 3.25%, 09/01/32 | &nbsp;&nbsp; CAD<br> 2,000<br>| 1395407 |
| 3.50%, 12/01/45 | &nbsp;&nbsp; CAD<br> 2,580<br>| 1658388 |
| 3.50%, 12/01/48 | &nbsp;&nbsp; CAD<br> 2,280<br>| 1450644 |
| 3.60%, 09/01/33 | &nbsp;&nbsp; CAD<br> 5,600<br>| 3963475 |
| 4.20%, 12/01/57 | &nbsp;&nbsp; CAD<br> 700<br>| 502594 |
| 4.25%, 12/01/43 | &nbsp;&nbsp; CAD<br> 650<br>| 466786 |
| 4.40%, 12/01/55 | &nbsp;&nbsp; CAD<br> 3,310<br>| 2456135 |
| 4.45%, 09/01/34 | &nbsp;&nbsp; CAD<br> 2,080<br>| 1561985 |
| 5.00%, 12/01/38 | &nbsp;&nbsp; CAD<br> 1,000<br>| 781378 |
| 5.00%, 12/01/41 | &nbsp;&nbsp; CAD<br> 2,500<br>| 1966672 |
| 5.75%, 12/01/36 | &nbsp;&nbsp; CAD<br> 1,520<br>| 1267327 |
| 6.25%, 06/01/32 | &nbsp;&nbsp; CAD<br> 110<br>| 92199 |
| Province of Saskatchewan Canada |  |  |
| 2.15%, 06/02/31 | &nbsp;&nbsp; CAD<br> 500<br>| 330297 |
| 2.20%, 06/02/30 | &nbsp;&nbsp; CAD<br> 400<br>| 270193 |
| 2.65%, 06/02/27 | &nbsp;&nbsp; CAD<br> 450<br>| 319092 |
| 2.75%, 12/02/46 | &nbsp;&nbsp; CAD<br> 300<br>| 168975 |
| 2.80%, 12/02/52 | &nbsp;&nbsp; CAD<br> 720<br>| 397375 |
| 3.05%, 12/02/28 | &nbsp;&nbsp; CAD<br> 700<br>| 499556 |
| 3.10%, 06/02/50 | &nbsp;&nbsp; CAD<br> 700<br>| 413827 |
| 3.30%, 05/08/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 556435 |
| 3.30%, 06/02/48 | &nbsp;&nbsp; CAD<br> 500<br>| 307987 |
| 3.40%, 02/03/42 | &nbsp;&nbsp; CAD<br> 100<br>| 64657 |
| 3.75%, 03/05/54 | &nbsp;&nbsp; CAD<br> 400<br>| 264991 |
| 3.90%, 06/02/45 | &nbsp;&nbsp; CAD<br> 150<br>| 102431 |
| 4.20%, 12/02/54 | &nbsp;&nbsp; CAD<br> 300<br>| 214767 |
| 4.75%, 06/01/40 | &nbsp;&nbsp; CAD<br> 100<br>| 76308 |
| PSP Capital Inc. |  |  |
| 1.50%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 450<br>| 305667 |
| 3.00%, 11/05/25<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 200<br>| 143214 |
| 3.25%, 07/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 331532 |
| 3.75%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 366237 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 4.15%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| $368746 |
| 4.40%, 12/02/30<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 377627 |
| Regional Municipality of Peel Ontario, 3.85%, <br> 10/30/42<br>| &nbsp;&nbsp; CAD<br> 100<br>| 66520 |
| Regional Municipality of York |  |  |
| 2.15%, 06/22/31 | &nbsp;&nbsp; CAD<br> 500<br>| 329152 |
| 2.60%, 12/15/25 | &nbsp;&nbsp; CAD<br> 50<br>| 35637 |
| South Coast British Columbia <br> Transportation Authority<br>|  |  |
| 3.25%, 11/23/28 | &nbsp;&nbsp; CAD<br> 250<br>| 179728 |
| 4.15%, 12/12/53 | &nbsp;&nbsp; CAD<br> 200<br>| 136881 |
| 4.60%, 06/14/55 | &nbsp;&nbsp; CAD<br> 200<br>| 147491 |
|  |  | 300299582 |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Bonos de la Tesoreria de la Republica en pesos |  |  |
| 4.50%, 03/01/26 | &nbsp;&nbsp; CLP<br> 780,000<br>| 806780 |
| 4.70%, 09/01/30<sup>(e)</sup> | &nbsp;&nbsp; CLP<br> 1,395,000<br>| 1378663 |
| 5.00%, 10/01/28<sup>(e)</sup> | &nbsp;&nbsp; CLP<br> 600,000<br>| 616082 |
| 5.00%, 03/01/35 | &nbsp;&nbsp; CLP<br> 600,000<br>| 599178 |
| 5.10%, 07/15/50 | &nbsp;&nbsp; CLP<br> 250,000<br>| 255806 |
| 5.30%, 11/01/37<sup>(a)(e)</sup> | &nbsp;&nbsp; CLP<br> 885,000<br>| 902369 |
| 5.80%, 10/01/34<sup>(e)</sup> | &nbsp;&nbsp; CLP<br> 800,000<br>| 848249 |
| 6.00%, 04/01/33<sup>(e)</sup> | &nbsp;&nbsp; CLP<br> 400,000<br>| 423860 |
| 6.00%, 01/01/43 | &nbsp;&nbsp; CLP<br> 315,000<br>| 356020 |
| 6.20%, 10/01/40<sup>(e)</sup> | &nbsp;&nbsp; CLP<br> 600,000<br>| 672635 |
| 7.00%, 05/01/34<sup>(e)</sup> | &nbsp;&nbsp; CLP<br> 400,000<br>| 462391 |
| Chile Government International Bond |  |  |
| 0.10%, 01/26/27 | &nbsp;&nbsp; EUR<br> 200<br>| 202947 |
| 0.56%, 01/21/29 | &nbsp;&nbsp; EUR<br> 200<br>| 194413 |
| 0.83%, 07/02/31 | &nbsp;&nbsp; EUR<br> 200<br>| 183830 |
| 1.25%, 01/29/40 | &nbsp;&nbsp; EUR<br> 300<br>| 229744 |
| 1.25%, 01/22/51 | &nbsp;&nbsp; EUR<br> 200<br>| 122586 |
| 1.30%, 07/26/36 | &nbsp;&nbsp; EUR<br> 200<br>| 167837 |
| 1.63%, 01/30/25 | &nbsp;&nbsp; EUR<br> 300<br>| 324560 |
| 1.75%, 01/20/26 | &nbsp;&nbsp; EUR<br> 300<br>| 320816 |
| 3.88%, 07/09/31 | &nbsp;&nbsp; EUR<br> 400<br>| 441832 |
| 4.13%, 07/05/34 | &nbsp;&nbsp; EUR<br> 300<br>| 335911 |
|  |  | 9846509 |
| **China — 18.5%** | **China — 18.5%** | **China — 18.5%** |
| Agricultural Development Bank of China |  |  |
| 2.12%, 03/12/27 | &nbsp;&nbsp; CNY<br> 4,300<br>| 608108 |
| 2.22%, 04/09/29 | &nbsp;&nbsp; CNY<br> 17,000<br>| 2418054 |
| 2.35%, 09/07/26 | &nbsp;&nbsp; CNY<br> 98,800<br>| 14018381 |
| 2.47%, 04/02/34 | &nbsp;&nbsp; CNY<br> 40,350<br>| 5767907 |
| 2.50%, 08/24/27 | &nbsp;&nbsp; CNY<br> 108,700<br>| 15539708 |
| 2.55%, 05/11/26 | &nbsp;&nbsp; CNY<br> 21,400<br>| 3040965 |
| 2.60%, 12/01/25 | &nbsp;&nbsp; CNY<br> 5,000<br>| 708989 |
| 2.74%, 02/23/27 | &nbsp;&nbsp; CNY<br> 8,000<br>| 1146561 |
| 2.83%, 08/11/29 | &nbsp;&nbsp; CNY<br> 6,800<br>| 991726 |
| 2.83%, 06/16/33 | &nbsp;&nbsp; CNY<br> 32,900<br>| 4827342 |
| 2.85%, 10/20/33 | &nbsp;&nbsp; CNY<br> 32,900<br>| 4840297 |
| 2.87%, 05/14/27 | &nbsp;&nbsp; CNY<br> 5,000<br>| 719667 |
| 2.90%, 03/08/28 | &nbsp;&nbsp; CNY<br> 15,000<br>| 2174976 |
| 2.97%, 10/14/32 | &nbsp;&nbsp; CNY<br> 26,000<br>| 3845247 |
| 2.99%, 08/11/26 | &nbsp;&nbsp; CNY<br> 75,250<br>| 10792625 |
| 3.06%, 06/06/32 | &nbsp;&nbsp; CNY<br> 122,430<br>| 18196590 |
| 3.10%, 02/27/33 | &nbsp;&nbsp; CNY<br> 87,600<br>| 13078077 |
| 3.30%, 11/05/31 | &nbsp;&nbsp; CNY<br> 30,000<br>| 4524976 |
| 3.35%, 03/24/26 | &nbsp;&nbsp; CNY<br> 76,400<br>| 10962686 |
| 3.48%, 02/04/28 | &nbsp;&nbsp; CNY<br> 15,000<br>| 2211006 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| 3.52%, 05/24/31 | &nbsp;&nbsp; CNY<br> 60,000<br>| $9132722 |
| 3.63%, 07/19/26 | &nbsp;&nbsp; CNY<br> 27,800<br>| 4027429 |
| 3.74%, 07/12/29 | &nbsp;&nbsp; CNY<br> 139,500<br>| 21145479 |
| 3.75%, 01/25/29 | &nbsp;&nbsp; CNY<br> 38,650<br>| 5825538 |
| 3.79%, 10/26/30 | &nbsp;&nbsp; CNY<br> 54,000<br>| 8303310 |
| 3.85%, 01/06/27 | &nbsp;&nbsp; CNY<br> 41,100<br>| 6022561 |
| 3.95%, 02/26/31 | &nbsp;&nbsp; CNY<br> 13,000<br>| 2019837 |
| 4.00%, 11/12/25 | &nbsp;&nbsp; CNY<br> 46,000<br>| 6614269 |
| 4.65%, 05/11/28 | &nbsp;&nbsp; CNY<br> 31,000<br>| 4758775 |
| China Development Bank |  |  |
| 2.00%, 04/12/27 | &nbsp;&nbsp; CNY<br> 21,500<br>| 3033237 |
| 2.35%, 05/06/34 | &nbsp;&nbsp; CNY<br> 38,450<br>| 5467492 |
| 2.52%, 05/25/28 | &nbsp;&nbsp; CNY<br> 28,550<br>| 4101270 |
| 2.63%, 01/08/34 | &nbsp;&nbsp; CNY<br> 33,700<br>| 4885670 |
| 2.65%, 02/24/27 | &nbsp;&nbsp; CNY<br> 15,500<br>| 2219148 |
| 2.69%, 06/16/27 | &nbsp;&nbsp; CNY<br> 56,860<br>| 8166219 |
| 2.69%, 09/11/33 | &nbsp;&nbsp; CNY<br> 80,000<br>| 11621682 |
| 2.77%, 10/24/32 | &nbsp;&nbsp; CNY<br> 153,600<br>| 22433051 |
| 2.83%, 09/10/26 | &nbsp;&nbsp; CNY<br> 10,700<br>| 1532069 |
| 2.96%, 07/18/32 | &nbsp;&nbsp; CNY<br> 46,300<br>| 6845989 |
| 2.98%, 04/22/32 | &nbsp;&nbsp; CNY<br> 44,000<br>| 6514678 |
| 3.00%, 01/17/32 | &nbsp;&nbsp; CNY<br> 141,500<br>| 20959395 |
| 3.02%, 03/06/33 | &nbsp;&nbsp; CNY<br> 74,550<br>| 11083898 |
| 3.05%, 08/25/26 | &nbsp;&nbsp; CNY<br> 190,600<br>| 27376391 |
| 3.09%, 06/18/30 | &nbsp;&nbsp; CNY<br> 36,450<br>| 5402687 |
| 3.12%, 09/13/31 | &nbsp;&nbsp; CNY<br> 39,000<br>| 5819509 |
| 3.18%, 04/05/26 | &nbsp;&nbsp; CNY<br> 10,000<br>| 1432212 |
| 3.41%, 06/07/31 | &nbsp;&nbsp; CNY<br> 10,000<br>| 1514278 |
| 3.43%, 01/14/27 | &nbsp;&nbsp; CNY<br> 34,800<br>| 5060249 |
| 3.45%, 09/20/29 | &nbsp;&nbsp; CNY<br> 17,000<br>| 2553747 |
| 3.48%, 01/08/29 | &nbsp;&nbsp; CNY<br> 225,500<br>| 33623094 |
| 3.50%, 08/13/26 | &nbsp;&nbsp; CNY<br> 37,200<br>| 5382023 |
| 3.65%, 05/21/29 | &nbsp;&nbsp; CNY<br> 114,500<br>| 17264391 |
| 3.66%, 03/01/31 | &nbsp;&nbsp; CNY<br> 219,400<br>| 33595751 |
| 3.68%, 02/26/26 | &nbsp;&nbsp; CNY<br> 142,700<br>| 20547681 |
| 3.70%, 10/20/30 | &nbsp;&nbsp; CNY<br> 45,050<br>| 6899746 |
| 3.80%, 01/25/36 | &nbsp;&nbsp; CNY<br> 106,500<br>| 17208225 |
| 4.04%, 07/06/28 | &nbsp;&nbsp; CNY<br> 20,000<br>| 3021558 |
| 4.88%, 02/09/28 | &nbsp;&nbsp; CNY<br> 34,900<br>| 5363780 |
| 5.25%, 06/24/28 | &nbsp;&nbsp; CNY<br> 10,000<br>| 1569965 |
| China Government Bond |  |  |
| 1.85%, 05/15/27 | &nbsp;&nbsp; CNY<br> 38,970<br>| 5514414 |
| 2.18%, 08/15/26 | &nbsp;&nbsp; CNY<br> 49,000<br>| 6966733 |
| 2.28%, 11/25/25 | &nbsp;&nbsp; CNY<br> 176,800<br>| 25061909 |
| 2.28%, 03/25/31 | &nbsp;&nbsp; CNY<br> 82,100<br>| 11715551 |
| 2.33%, 12/15/25 | &nbsp;&nbsp; CNY<br> 22,680<br>| 3217160 |
| 2.35%, 02/25/34 | &nbsp;&nbsp; CNY<br> 72,050<br>| 10289704 |
| 2.37%, 01/20/27 | &nbsp;&nbsp; CNY<br> 87,100<br>| 12452122 |
| 2.40%, 07/15/28 | &nbsp;&nbsp; CNY<br> 109,000<br>| 15653858 |
| 2.44%, 10/15/27 | &nbsp;&nbsp; CNY<br> 139,380<br>| 20052625 |
| 2.46%, 02/15/26 | &nbsp;&nbsp; CNY<br> 212,700<br>| 30254341 |
| 2.48%, 04/15/27 | &nbsp;&nbsp; CNY<br> 167,000<br>| 23963129 |
| 2.48%, 09/25/28 | &nbsp;&nbsp; CNY<br> 18,550<br>| 2674308 |
| 2.50%, 07/25/27 | &nbsp;&nbsp; CNY<br> 109,120<br>| 15691807 |
| 2.52%, 08/25/33 | &nbsp;&nbsp; CNY<br> 56,860<br>| 8221220 |
| 2.60%, 09/01/32 | &nbsp;&nbsp; CNY<br> 309,360<br>| 44994957 |
| 2.62%, 09/25/29 | &nbsp;&nbsp; CNY<br> 107,300<br>| 15618798 |
| 2.64%, 01/15/28 | &nbsp;&nbsp; CNY<br> 105,000<br>| 15176697 |
| 2.67%, 05/25/33 | &nbsp;&nbsp; CNY<br> 19,000<br>| 2778411 |
| 2.67%, 11/25/33 | &nbsp;&nbsp; CNY<br> 59,170<br>| 8664976 |
| 2.68%, 05/21/30 | &nbsp;&nbsp; CNY<br> 493,760<br>| 72186309 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| 2.69%, 08/12/26 | &nbsp;&nbsp; CNY<br> 120,000<br>| $17212709 |
| 2.69%, 08/15/32 | &nbsp;&nbsp; CNY<br> 84,100<br>| 12306004 |
| 2.70%, 11/03/26 | &nbsp;&nbsp; CNY<br> 5,000<br>| 718964 |
| 2.74%, 08/04/26 | &nbsp;&nbsp; CNY<br> 33,000<br>| 4734361 |
| 2.75%, 06/15/29 | &nbsp;&nbsp; CNY<br> 135,000<br>| 19739199 |
| 2.75%, 02/17/32 | &nbsp;&nbsp; CNY<br> 86,520<br>| 12715507 |
| 2.79%, 12/15/29 | &nbsp;&nbsp; CNY<br> 112,000<br>| 16451892 |
| 2.80%, 03/24/29 | &nbsp;&nbsp; CNY<br> 90,000<br>| 13167488 |
| 2.80%, 03/25/30 | &nbsp;&nbsp; CNY<br> 103,000<br>| 15134303 |
| 2.80%, 11/15/32 | &nbsp;&nbsp; CNY<br> 100,320<br>| 14810379 |
| 2.85%, 06/04/27 | &nbsp;&nbsp; CNY<br> 114,000<br>| 16529451 |
| 2.88%, 02/25/33 | &nbsp;&nbsp; CNY<br> 58,020<br>| 8649700 |
| 2.89%, 11/18/31 | &nbsp;&nbsp; CNY<br> 50,000<br>| 7413763 |
| 2.90%, 05/05/26 | &nbsp;&nbsp; CNY<br> 113,000<br>| 16213943 |
| 3.02%, 05/27/31 | &nbsp;&nbsp; CNY<br> 20,000<br>| 2991332 |
| 3.12%, 12/05/26 | &nbsp;&nbsp; CNY<br> 56,050<br>| 8135622 |
| 3.12%, 10/25/52 | &nbsp;&nbsp; CNY<br> 91,930<br>| 14913911 |
| 3.19%, 04/15/53 | &nbsp;&nbsp; CNY<br> 32,500<br>| 5363251 |
| 3.25%, 06/06/26 | &nbsp;&nbsp; CNY<br> 20,000<br>| 2889276 |
| 3.25%, 11/22/28 | &nbsp;&nbsp; CNY<br> 46,000<br>| 6862148 |
| 3.27%, 03/25/73 | &nbsp;&nbsp; CNY<br> 89,770<br>| 15895819 |
| 3.32%, 04/15/52 | &nbsp;&nbsp; CNY<br> 76,800<br>| 12870007 |
| 3.39%, 03/16/50 | &nbsp;&nbsp; CNY<br> 123,800<br>| 20768600 |
| 3.52%, 04/25/46 | &nbsp;&nbsp; CNY<br> 5,210<br>| 873660 |
| 3.53%, 10/18/51 | &nbsp;&nbsp; CNY<br> 46,200<br>| 7987636 |
| 3.54%, 08/16/28 | &nbsp;&nbsp; CNY<br> 4,000<br>| 604248 |
| 3.72%, 04/12/51 | &nbsp;&nbsp; CNY<br> 94,890<br>| 16873024 |
| 3.73%, 05/25/70 | &nbsp;&nbsp; CNY<br> 11,920<br>| 2310416 |
| 3.74%, 09/22/35 | &nbsp;&nbsp; CNY<br> 42,290<br>| 6888170 |
| 3.81%, 09/14/50 | &nbsp;&nbsp; CNY<br> 89,500<br>| 16087362 |
| 3.86%, 07/22/49 | &nbsp;&nbsp; CNY<br> 36,000<br>| 6475992 |
| 4.00%, 06/24/69 | &nbsp;&nbsp; CNY<br> 27,250<br>| 5553540 |
| 4.05%, 07/24/47 | &nbsp;&nbsp; CNY<br> 18,400<br>| 3342341 |
| 4.08%, 10/22/48 | &nbsp;&nbsp; CNY<br> 37,300<br>| 6889416 |
| 4.50%, 06/23/41 | &nbsp;&nbsp; CNY<br> 10,850<br>| 2008875 |
| China Government International Bond |  |  |
| 0.13%, 11/12/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 823374 |
| 0.50%, 11/12/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 278451 |
| 0.63%, 11/17/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 354953 |
| 1.00%, 11/12/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 233322 |
| Export-Import Bank of China (The) |  |  |
| 2.01%, 04/12/27 | &nbsp;&nbsp; CNY<br> 10,400<br>| 1467263 |
| 2.31%, 03/15/29 | &nbsp;&nbsp; CNY<br> 4,300<br>| 613781 |
| 2.44%, 04/12/34 | &nbsp;&nbsp; CNY<br> 47,540<br>| 6779520 |
| 2.50%, 10/13/26 | &nbsp;&nbsp; CNY<br> 3,850<br>| 548158 |
| 2.61%, 01/27/27 | &nbsp;&nbsp; CNY<br> 30,000<br>| 4287317 |
| 2.64%, 12/05/25 | &nbsp;&nbsp; CNY<br> 3,850<br>| 546253 |
| 2.74%, 09/05/29 | &nbsp;&nbsp; CNY<br> 2,000<br>| 290843 |
| 2.82%, 06/17/27 | &nbsp;&nbsp; CNY<br> 75,550<br>| 10874828 |
| 2.90%, 08/19/32 | &nbsp;&nbsp; CNY<br> 64,300<br>| 9457466 |
| 2.92%, 04/17/30 | &nbsp;&nbsp; CNY<br> 2,600<br>| 381519 |
| 3.10%, 02/13/33 | &nbsp;&nbsp; CNY<br> 67,900<br>| 10146281 |
| 3.18%, 03/11/32 | &nbsp;&nbsp; CNY<br> 70,250<br>| 10517912 |
| 3.22%, 05/14/26 | &nbsp;&nbsp; CNY<br> 43,000<br>| 6171485 |
| 3.23%, 03/23/30 | &nbsp;&nbsp; CNY<br> 21,500<br>| 3203116 |
| 3.26%, 02/24/27 | &nbsp;&nbsp; CNY<br> 51,550<br>| 7474010 |
| 3.33%, 02/22/26 | &nbsp;&nbsp; CNY<br> 3,100<br>| 444311 |
| 3.38%, 07/16/31 | &nbsp;&nbsp; CNY<br> 38,200<br>| 5776979 |
| 3.74%, 11/16/30 | &nbsp;&nbsp; CNY<br> 29,000<br>| 4450162 |
| 3.86%, 05/20/29 | &nbsp;&nbsp; CNY<br> 84,200<br>| 12796876 |
| 3.88%, 01/12/36 | &nbsp;&nbsp; CNY<br> 5,700<br>| 923735 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| 4.11%, 03/20/27 | &nbsp;&nbsp; CNY<br> 7,000<br>| $1034803 |
| 4.89%, 03/26/28 | &nbsp;&nbsp; CNY<br> 24,750<br>| 3815010 |
|  |  | 1287985959 |
| **Colombia — 0.2%** | **Colombia — 0.2%** | **Colombia — 0.2%** |
| Colombia TES, 13.25%, 02/09/33 | &nbsp;&nbsp; COP<br> 5,000,000<br>| 1278725 |
| Colombian TES |  |  |
| 9.25%, 05/28/42 | &nbsp;&nbsp; COP<br> 12,964,400<br>| 2433120 |
| Series B, 5.75%, 11/03/27 | &nbsp;&nbsp; COP<br> 5,148,700<br>| 1054228 |
| Series B, 6.00%, 04/28/28 | &nbsp;&nbsp; COP<br> 3,890,900<br>| 781941 |
| Series B, 6.25%, 11/26/25 | &nbsp;&nbsp; COP<br> 6,268,700<br>| 1408039 |
| Series B, 6.25%, 07/09/36 | &nbsp;&nbsp; COP<br> 8,000,000<br>| 1236290 |
| Series B, 7.00%, 03/26/31 | &nbsp;&nbsp; COP<br> 5,000,000<br>| 953758 |
| Series B, 7.00%, 06/30/32 | &nbsp;&nbsp; COP<br> 8,989,600<br>| 1655816 |
| Series B, 7.25%, 10/18/34 | &nbsp;&nbsp; COP<br> 4,501,400<br>| 794500 |
| Series B, 7.25%, 10/26/50 | &nbsp;&nbsp; COP<br> 4,000,000<br>| 585739 |
| Series B, 7.50%, 08/26/26 | &nbsp;&nbsp; COP<br> 4,218,700<br>| 935544 |
| Series B, 7.75%, 09/18/30 | &nbsp;&nbsp; COP<br> 2,864,600<br>| 578039 |
|  |  | 13695739 |
| **Croatia — 0.1%** | **Croatia — 0.1%** | **Croatia — 0.1%** |
| Croatia Government International Bond |  |  |
| 1.13%, 06/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 352<br>| 355373 |
| 1.13%, 03/04/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 186716 |
| 1.50%, 06/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 790<br>| 785409 |
| 1.75%, 03/04/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 180<br>| 156655 |
| 2.70%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 326325 |
| 2.75%, 01/27/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 488928 |
| 2.88%, 04/22/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216206 |
| 3.00%, 03/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 327509 |
| 4.00%, 06/14/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,300<br>| 1512710 |
|  |  | 4355831 |
| **Cyprus — 0.1%** | **Cyprus — 0.1%** | **Cyprus — 0.1%** |
| Cyprus Government International Bond |  |  |
| 0.95%, 01/20/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,370<br>| 1304794 |
| 1.25%, 01/21/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 472<br>| 376485 |
| 2.38%, 09/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 591<br>| 634361 |
| 3.25%, 06/27/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 597<br>| 664500 |
| 4.25%, 11/04/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332075 |
|  |  | 3312215 |
| **Czech Republic — 0.3%** | **Czech Republic — 0.3%** | **Czech Republic — 0.3%** |
| Czech Republic Government Bond |  |  |
| 0.05%, 11/29/29 | &nbsp;&nbsp; CZK<br> 24,150<br>| 861750 |
| 0.25%, 02/10/27 | &nbsp;&nbsp; CZK<br> 51,560<br>| 2052986 |
| 0.95%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; CZK<br> 24,740<br>| 912271 |
| 1.00%, 06/26/26<sup>(a)</sup> | &nbsp;&nbsp; CZK<br> 44,520<br>| 1831189 |
| 1.20%, 03/13/31 | &nbsp;&nbsp; CZK<br> 40,730<br>| 1486070 |
| 1.25%, 02/14/25 | &nbsp;&nbsp; CZK<br> 37,500<br>| 1598046 |
| 1.50%, 04/24/40 | &nbsp;&nbsp; CZK<br> 21,960<br>| 649566 |
| 1.75%, 06/23/32 | &nbsp;&nbsp; CZK<br> 31,000<br>| 1139430 |
| 1.95%, 07/30/37 | &nbsp;&nbsp; CZK<br> 10,620<br>| 355634 |
| 2.00%, 10/13/33 | &nbsp;&nbsp; CZK<br> 50,740<br>| 1845479 |
| 2.50%, 08/25/28<sup>(a)</sup> | &nbsp;&nbsp; CZK<br> 45,690<br>| 1879186 |
| 2.75%, 07/23/29 | &nbsp;&nbsp; CZK<br> 36,700<br>| 1506962 |
| 3.50%, 05/30/35 | &nbsp;&nbsp; CZK<br> 17,110<br>| 692635 |
| 4.20%, 12/04/36<sup>(a)</sup> | &nbsp;&nbsp; CZK<br> 24,020<br>| 1032510 |
| 4.90%, 04/14/34 | &nbsp;&nbsp; CZK<br> 10,000<br>| 455007 |
| 5.00%, 09/30/30 | &nbsp;&nbsp; CZK<br> 25,150<br>| 1146100 |
|  |  | 19444821 |
| **Denmark — 0.3%** | **Denmark — 0.3%** | **Denmark — 0.3%** |
| Denmark Government Bond |  |  |
| 0.00%, 11/15/31 | &nbsp;&nbsp; DKK<br> 18,335<br>| 2315694 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| 0.25%, 11/15/52 | &nbsp;&nbsp; DKK<br> 12,047<br>| $998595 |
| 0.50%, 11/15/27 | &nbsp;&nbsp; DKK<br> 20,594<br>| 2875127 |
| 0.50%, 11/15/29 | &nbsp;&nbsp; DKK<br> 15,650<br>| 2116549 |
| 1.75%, 11/15/25 | &nbsp;&nbsp; DKK<br> 18,670<br>| 2713572 |
| 2.25%, 11/15/26 | &nbsp;&nbsp; DKK<br> 5,740<br>| 841525 |
| 2.25%, 11/15/33 | &nbsp;&nbsp; DKK<br> 16,395<br>| 2403623 |
| 4.50%, 11/15/39 | &nbsp;&nbsp; DKK<br> 22,237<br>| 4091444 |
| Kommunekredit |  |  |
| 0.00%, 11/17/29 | &nbsp;&nbsp; EUR<br> 300<br>| 287420 |
| 0.00%, 03/03/31 | &nbsp;&nbsp; EUR<br> 200<br>| 184911 |
| 0.00%, 05/04/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 376764 |
| 0.63%, 05/11/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 423381 |
| 0.75%, 05/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 120<br>| 125170 |
| 0.88%, 11/03/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 434717 |
| 2.88%, 01/19/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 327645 |
| 3.13%, 11/24/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 552362 |
|  |  | 21068499 |
| **Finland — 0.4%** | **Finland — 0.4%** | **Finland — 0.4%** |
| Finland Government Bond |  |  |
| 0.00%, 09/15/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,718<br>| 1787599 |
| 0.00%, 09/15/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,810<br>| 1690000 |
| 0.13%, 09/15/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,527<br>| 1396822 |
| 0.13%, 04/15/36<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,890<br>| 1493035 |
| 0.13%, 04/15/52<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 872<br>| 445351 |
| 0.25%, 09/15/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 783<br>| 553387 |
| 0.50%, 04/15/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,445<br>| 1529151 |
| 0.50%, 09/15/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 725<br>| 748263 |
| 0.50%, 09/15/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 869<br>| 876696 |
| 0.50%, 09/15/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,083<br>| 1067236 |
| 0.50%, 04/15/43<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,099<br>| 765129 |
| 1.13%, 04/15/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 896<br>| 837129 |
| 1.38%, 04/15/47<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,829<br>| 1451076 |
| 1.50%, 09/15/32<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,090<br>| 3063560 |
| 2.63%, 07/04/42<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 733<br>| 750327 |
| 2.75%, 07/04/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,754<br>| 1928706 |
| 2.75%, 04/15/38<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 576<br>| 607139 |
| 2.95%, 04/15/55<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 721<br>| 761717 |
| 3.00%, 09/15/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,380<br>| 1522717 |
| Finnvera OYJ |  |  |
| 0.38%, 04/09/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 297432 |
| 0.50%, 04/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211351 |
| 0.75%, 08/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 204193 |
| 1.13%, 05/17/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 97736 |
| 2.88%, 08/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1101045 |
| Kuntarahoitus OYJ |  |  |
| 2.75%, 02/02/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 540029 |
| 3.13%, 07/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1115895 |
| 4.25%, 01/09/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 1,000<br>| 1276452 |
|  |  | 28119173 |
| **France — 6.7%** | **France — 6.7%** | **France — 6.7%** |
| Action Logement Services |  |  |
| 0.50%, 10/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 165020 |
| 0.75%, 07/19/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 207358 |
| 3.13%, 09/28/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207573 |
| 3.63%, 10/25/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 864457 |
| 4.13%, 10/03/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 456158 |
| Agence Francaise de Developpement EPIC |  |  |
| 0.00%, 03/25/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 214980 |
| 0.25%, 07/21/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 835119 |
| 0.25%, 06/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1055621 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 0.50%, 05/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| $379452 |
| 1.00%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 205195 |
| 1.38%, 07/05/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1146704 |
| 1.50%, 10/31/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 277175 |
| 1.63%, 05/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 487929 |
| 3.00%, 01/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 533137 |
| 3.38%, 05/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1100094 |
| 4.13%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 600<br>| 761230 |
| Agence France Locale |  |  |
| 0.00%, 09/20/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 301434 |
| 0.20%, 03/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 483116 |
| 3.13%, 03/20/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 538229 |
| Bpifrance SACA |  |  |
| 0.05%, 09/26/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 284304 |
| 0.13%, 11/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1169497 |
| 0.25%, 03/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 188596 |
| 0.63%, 05/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 632875 |
| 0.75%, 11/25/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108625 |
| 0.88%, 09/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 504971 |
| 1.00%, 05/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1041840 |
| 1.88%, 05/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 308113 |
| 2.88%, 11/25/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,800<br>| 1938370 |
| 3.00%, 09/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 656540 |
| 3.13%, 05/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 108700 |
| 3.38%, 05/25/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 550030 |
| 3.50%, 09/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,600<br>| 1777640 |
| 4.13%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 507990 |
| Caisse d'Amortissement de la Dette Sociale |  |  |
| 0.00%, 02/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,000<br>| 1990854 |
| 0.00%, 05/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1341259 |
| 0.00%, 05/25/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 900198 |
| 0.13%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1079635 |
| 0.45%, 01/19/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1003876 |
| 0.60%, 11/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 584254 |
| 2.75%, 09/24/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,000<br>| 3270822 |
| 2.75%, 02/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 650936 |
| 2.75%, 11/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,700<br>| 1811712 |
| 2.88%, 05/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 984913 |
| 3.00%, 11/25/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 763483 |
| 3.13%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1322507 |
| 4.00%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 840<br>| 926623 |
| Caisse des Depots et Consignations |  |  |
| 3.13%, 05/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 543180 |
| 3.38%, 11/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 556145 |
| 4.00%, 01/17/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 377691 |
| Caisse Francaise de Financement Local SA |  |  |
| 0.00%, 06/24/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 557364 |
| 0.00%, 03/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 363183 |
| 0.10%, 11/13/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 380479 |
| 0.13%, 02/15/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 158307 |
| 0.38%, 01/20/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 273052 |
| 0.38%, 02/13/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 73413 |
| 0.50%, 01/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106054 |
| 0.50%, 02/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 829445 |
| 0.63%, 04/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 317273 |
| 0.63%, 01/20/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 367348 |
| 0.75%, 01/11/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104500 |
| 0.75%, 09/27/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206224 |
| 1.13%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 289547 |
| 1.25%, 05/11/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 193071 |
| 1.45%, 01/16/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 381726 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 1.50%, 01/13/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| $1004590 |
| 1.50%, 06/28/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 181147 |
| 3.13%, 05/17/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 655990 |
| 3.25%, 02/19/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332657 |
| French Republic Government Bond OAT |  |  |
| 0.00%, 02/25/26<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 9,064<br>| 9554889 |
| 0.00%, 02/25/27<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 9,500<br>| 9759651 |
| 0.00%, 11/25/29<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 11,104<br>| 10535633 |
| 0.00%, 11/25/30<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 10,575<br>| 9731010 |
| 0.00%, 11/25/31<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 10,950<br>| 9750080 |
| 0.00%, 05/25/32<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 8,840<br>| 7738082 |
| 0.25%, 11/25/26<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1039471 |
| 0.50%, 05/25/26<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 12,617<br>| 13325492 |
| 0.50%, 05/25/29<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 10,179<br>| 10034725 |
| 0.50%, 05/25/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,437<br>| 3880381 |
| 0.50%, 06/25/44<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 5,861<br>| 3754733 |
| 0.50%, 05/25/72<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,403<br>| 1332387 |
| 0.75%, 02/25/28<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 12,453<br>| 12759663 |
| 0.75%, 05/25/28<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 14,201<br>| 14476808 |
| 0.75%, 11/25/28<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 14,569<br>| 14692573 |
| 0.75%, 05/25/52<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 8,280<br>| 4659738 |
| 0.75%, 05/25/53<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,958<br>| 3826511 |
| 1.00%, 11/25/25<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 7,370<br>| 7891103 |
| 1.00%, 05/25/27<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 12,371<br>| 12956523 |
| 1.25%, 05/25/34<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 14,337<br>| 13263439 |
| 1.25%, 05/25/36<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 9,703<br>| 8590201 |
| 1.25%, 05/25/38<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 8,225<br>| 6941133 |
| 1.50%, 05/25/31<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 11,633<br>| 11658035 |
| 1.50%, 05/25/50<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,630<br>| 4777175 |
| 1.75%, 06/25/39<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 9,771<br>| 8741365 |
| 1.75%, 05/25/66<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,865<br>| 2636302 |
| 2.00%, 11/25/32<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 8,350<br>| 8456177 |
| 2.00%, 05/25/48<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,845<br>| 3189361 |
| 2.50%, 09/24/26<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 8,000<br>| 8702147 |
| 2.50%, 09/24/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,000<br>| 4343468 |
| 2.50%, 05/25/30<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 8,927<br>| 9576417 |
| 2.50%, 05/25/43<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,093<br>| 4823766 |
| 2.75%, 10/25/27<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 11,925<br>| 13041188 |
| 2.75%, 02/25/29<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 10,380<br>| 11307408 |
| 2.75%, 02/25/30<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 10,978<br>| 11919805 |
| 3.00%, 05/25/33<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 6,500<br>| 7062284 |
| 3.00%, 11/25/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 7,848<br>| 8445460 |
| 3.00%, 06/25/49<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,270<br>| 2269741 |
| 3.00%, 05/25/54<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 6,810<br>| 6611473 |
| 3.25%, 05/25/45<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 6,643<br>| 7018591 |
| 3.25%, 05/25/55<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,370<br>| 1390288 |
| 3.50%, 04/25/26<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 20,057<br>| 22148667 |
| 3.50%, 11/25/33<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 8,723<br>| 9822604 |
| 4.00%, 10/25/38<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 6,676<br>| 7826246 |
| 4.00%, 04/25/55<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,994<br>| 4660284 |
| 4.00%, 04/25/60<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 4,689<br>| 5510106 |
| 4.50%, 04/25/41<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 5,918<br>| 7342045 |
| 4.75%, 04/25/35<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 5,625<br>| 6996735 |
| 5.50%, 04/25/29<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,118<br>| 2569237 |
| 5.75%, 10/25/32<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 5,702<br>| 7420163 |
| Gestion Securite de Stocks Securite SA |  |  |
| 0.63%, 10/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 396417 |
| 3.38%, 06/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 659155 |
| 3.50%, 11/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 663468 |
| Ile-de-France Mobilites, 3.40%, 05/25/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208147 |
| Ile-De-France Mobilites, 3.45%, 06/25/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 415388 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Regie Autonome des Transports Parisiens EPIC, <br> 1.88%, 05/25/32<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 100<br>| $99048 |
| Region of Ile de France |  |  |
| 0.00%, 04/20/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 295063 |
| 2.90%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 642702 |
| 3.20%, 05/25/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 537915 |
| SFIL SA |  |  |
| 0.25%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 267597 |
| 1.50%, 03/05/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 194258 |
| 2.88%, 01/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 538331 |
| 3.25%, 11/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1098618 |
| SNCF Reseau |  |  |
| 2.63%, 12/29/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 325679 |
| 5.00%, 03/11/52<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 240715 |
| Societe Des Grands Projets EPIC |  |  |
| 0.00%, 11/25/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,300<br>| 1181553 |
| 0.30%, 11/25/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 897371 |
| 0.70%, 10/15/60<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 258967 |
| 0.88%, 05/10/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 321989 |
| 1.00%, 11/26/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 235835 |
| 1.00%, 02/18/70<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 225635 |
| 1.13%, 05/25/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 358680 |
| 1.63%, 04/08/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 484273 |
| 1.70%, 05/25/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 656689 |
| 3.70%, 05/25/53<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 215674 |
| Societe Nationale SNCF SACA |  |  |
| 0.63%, 04/17/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 764716 |
| 0.88%, 02/28/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 157995 |
| 1.00%, 05/25/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 74142 |
| 1.00%, 01/19/61<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 223441 |
| Unedic Asseo |  |  |
| 0.00%, 05/25/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1081919 |
| 0.10%, 11/25/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 619688 |
| 0.13%, 11/25/24 | &nbsp;&nbsp; EUR<br> 200<br>| 217147 |
| 0.25%, 11/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1340158 |
| 0.25%, 07/16/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 965668 |
| 0.50%, 03/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 493061 |
| 0.63%, 03/03/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 635711 |
| 0.88%, 05/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 101983 |
| 1.25%, 10/21/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 313031 |
| 1.25%, 05/25/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 377340 |
| 1.50%, 04/20/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 294693 |
| 1.75%, 11/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 496049 |
| UNEDIC ASSEO, 3.13%, 11/25/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1087668 |
| Ville de Paris |  |  |
| 1.25%, 01/12/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 189320 |
| 1.38%, 11/20/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 89607 |
| 3.75%, 06/22/48<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 327690 |
|  |  | 466912488 |
| **Georgia — 0.1%** | **Georgia — 0.1%** | **Georgia — 0.1%** |
| Gemeinsame Deutsche Bundeslaender, 2.50%, <br> 10/24/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 400<br>| 430479 |
| Land Baden-Wuerttemberg, 2.63%, 10/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,800<br>| 1942932 |
| State of North Rhine-Westphalia, 2.50%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 1,400<br>| 1518647 |
| State of North Rhine-Westphalia Germany, <br> 2.70%, 09/05/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 200<br>| 216925 |
|  |  | 4108983 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany — 5.3%** | **Germany — 5.3%** | **Germany — 5.3%** |
| Bundesobligation |  |  |
| 0.00%, 04/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| $157911 |
| 0.00%, 10/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,509<br>| 2615222 |
| 0.00%, 04/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 9,125<br>| 9411282 |
| 1.30%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 8,673<br>| 9202566 |
| 2.10%, 04/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,050<br>| 7622186 |
| 2.20%, 04/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,440<br>| 2654597 |
| 2.40%, 10/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 8,004<br>| 8766621 |
| Series G, 0.00%, 10/10/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,626<br>| 1729366 |
| Bundesrepublik Deutschland Bundesanleihe |  |  |
| 0.00%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 15,645<br>| 16355568 |
| 0.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,257<br>| 4337908 |
| 0.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,536<br>| 1533462 |
| 0.00%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,100<br>| 6965973 |
| 0.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,750<br>| 7515929 |
| 0.00%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,010<br>| 4806495 |
| 0.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,180<br>| 3015199 |
| 0.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,999<br>| 2809808 |
| 0.00%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,910<br>| 4540308 |
| 0.00%, 05/15/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,178<br>| 3528024 |
| 0.00%, 05/15/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,460<br>| 3657181 |
| 0.00%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 11,116<br>| 6293130 |
| 0.00%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 8,284<br>| 4464377 |
| 0.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 18,098<br>| 18851531 |
| 0.25%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,268<br>| 3314936 |
| 0.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,881<br>| 5905505 |
| 0.50%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,000<br>| 4160553 |
| 0.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 8,994<br>| 9282790 |
| 1.00%, 05/15/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,462<br>| 4891124 |
| 1.25%, 08/15/48<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,386<br>| 6145984 |
| 1.70%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,679<br>| 4882341 |
| 1.80%, 08/15/53<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,608<br>| 6965496 |
| 2.10%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,120<br>| 4447182 |
| 2.20%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,202<br>| 5582469 |
| 2.30%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 11,590<br>| 12594410 |
| 2.40%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,693<br>| 1853762 |
| 2.50%, 07/04/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,867<br>| 6268862 |
| 2.50%, 08/15/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 6,413<br>| 6857453 |
| 2.50%, 08/15/54<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,740<br>| 6117626 |
| 2.60%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 6,950<br>| 7713433 |
| 2.60%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,650<br>| 2935012 |
| 2.60%, 05/15/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,100<br>| 2276475 |
| 3.25%, 07/04/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,467<br>| 4104914 |
| 4.00%, 01/04/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,340<br>| 5452245 |
| 4.25%, 07/04/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,163<br>| 5439286 |
| 4.75%, 07/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,859<br>| 9313344 |
| 4.75%, 07/04/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 9,167<br>| 11986383 |
| 4.75%, 07/04/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,962<br>| 5492221 |
| 5.50%, 01/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,405<br>| 4383246 |
| 5.63%, 01/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,455<br>| 1747573 |
| 6.25%, 01/04/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 946<br>| 1226276 |
| 6.50%, 07/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,183<br>| 1427539 |
| Series G, 0.00%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,710<br>| 1641089 |
| Series G, 0.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,500<br>| 2343131 |
| Series G, 0.00%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,340<br>| 1327534 |
| Bundesschatzanweisungen |  |  |
| 2.70%, 09/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 15,523<br>| 17002155 |
| 3.10%, 12/12/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,486<br>| 1627585 |
| Free and Hanseatic City of Hamburg |  |  |
| 0.00%, 04/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 314956 |
| 0.00%, 09/29/31 | &nbsp;&nbsp; EUR<br> 300<br>| 273628 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 0.25%, 02/18/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $142538 |
| 0.40%, 11/23/51 | &nbsp;&nbsp; EUR<br> 200<br>| 113678 |
| 0.50%, 04/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 422575 |
| 1.45%, 11/05/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 91298 |
| 2.88%, 04/30/32 | &nbsp;&nbsp; EUR<br> 1,000<br>| 1108370 |
| Free State of Bavaria, 0.00%, 05/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 717502 |
| Free State of Saxony, 0.00%, 11/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 385011 |
| Gemeinsame Deutsche Bundeslaender |  |  |
| 0.00%, 10/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 405736 |
| 0.00%, 08/26/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 470458 |
| 0.63%, 10/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 412636 |
| 0.63%, 02/13/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 301908 |
| 1.25%, 05/04/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206123 |
| Land Baden-Wuerttemberg |  |  |
| 0.00%, 07/09/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 179005 |
| 0.63%, 01/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 212487 |
| 0.80%, 04/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 308559 |
| 2.75%, 05/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1099941 |
| 3.00%, 06/27/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 447526 |
| Land Berlin |  |  |
| 0.00%, 05/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 511475 |
| 0.00%, 07/02/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 283205 |
| 0.05%, 08/06/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 208572 |
| 0.10%, 01/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 480111 |
| 0.10%, 01/18/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 280<br>| 193849 |
| 0.63%, 03/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106115 |
| 0.63%, 02/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 365696 |
| 0.63%, 02/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 704798 |
| 0.63%, 01/26/52<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 122430 |
| 0.75%, 04/03/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 475<br>| 434545 |
| 1.00%, 05/19/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 290728 |
| 1.25%, 06/01/28 | &nbsp;&nbsp; EUR<br> 300<br>| 312845 |
| 1.38%, 06/05/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 620<br>| 570867 |
| 1.38%, 08/27/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 90448 |
| 2.63%, 01/24/31 | &nbsp;&nbsp; EUR<br> 1,000<br>| 1091855 |
| 3.00%, 03/13/54<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 761175 |
| Land Thueringen |  |  |
| 0.20%, 10/26/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 60<br>| 62473 |
| 0.38%, 12/01/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 84386 |
| 0.50%, 03/02/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 104061 |
| 0.50%, 03/02/29 | &nbsp;&nbsp; EUR<br> 500<br>| 500332 |
| 3.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,340<br>| 1486529 |
| State of Brandenburg |  |  |
| 0.00%, 06/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 497914 |
| 0.25%, 10/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 521615 |
| 0.60%, 10/13/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 122450 |
| 1.13%, 07/04/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 96383 |
| 2.50%, 01/25/29 | &nbsp;&nbsp; EUR<br> 400<br>| 435699 |
| 2.88%, 05/23/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 884714 |
| State of Bremen |  |  |
| 0.00%, 10/06/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 790869 |
| 0.15%, 09/14/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 212192 |
| 0.55%, 02/04/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 184155 |
| 1.20%, 01/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 191097 |
| 2.88%, 07/18/31 | &nbsp;&nbsp; EUR<br> 600<br>| 664546 |
| State of Hesse |  |  |
| 0.00%, 03/11/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 380889 |
| 0.38%, 07/06/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 725<br>| 762146 |
| 0.63%, 08/02/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 610109 |
| 0.75%, 08/04/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 172587 |
| 0.88%, 12/10/24<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217028 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 2.63%, 09/10/27 | &nbsp;&nbsp; EUR<br> 700<br>| $764881 |
| 2.75%, 01/10/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 218669 |
| 2.88%, 01/10/33 | &nbsp;&nbsp; EUR<br> 900<br>| 996738 |
| 3.25%, 10/05/28 | &nbsp;&nbsp; EUR<br> 1,974<br>| 2208118 |
| State of Lower Saxony |  |  |
| 0.00%, 07/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 417676 |
| 0.00%, 02/11/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 411842 |
| 0.00%, 11/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 505045 |
| 0.00%, 05/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 680<br>| 678163 |
| 0.00%, 08/13/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 376439 |
| 0.13%, 01/09/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 638935 |
| 0.25%, 04/15/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 82245 |
| 0.38%, 01/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 424358 |
| 0.38%, 05/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,600<br>| 1582489 |
| 0.50%, 06/08/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 474678 |
| 0.75%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 820<br>| 843913 |
| 2.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,140<br>| 1247092 |
| 2.63%, 01/09/34 | &nbsp;&nbsp; EUR<br> 500<br>| 541990 |
| State of Mecklenburg-Western Pomerania, <br> 2.55%, 01/12/32<br>| &nbsp;&nbsp; EUR<br> 470<br>| 509162 |
| State of North Rhine-Westphalia Germany |  |  |
| 0.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 587523 |
| 0.00%, 10/12/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 575<br>| 463546 |
| 0.13%, 06/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 925<br>| 858562 |
| 0.20%, 03/31/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1031309 |
| 0.20%, 04/09/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,250<br>| 1198774 |
| 0.20%, 01/27/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 133676 |
| 0.25%, 03/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 970<br>| 1024168 |
| 0.38%, 09/02/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 114159 |
| 0.50%, 04/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 65<br>| 68774 |
| 0.50%, 02/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 728660 |
| 0.50%, 01/15/52<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 630<br>| 366271 |
| 0.63%, 07/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 460<br>| 439774 |
| 0.75%, 08/16/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 75<br>| 57312 |
| 0.80%, 07/30/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 630<br>| 421013 |
| 0.90%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 612899 |
| 0.95%, 01/10/2121<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 390<br>| 199295 |
| 1.00%, 10/16/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 570<br>| 419334 |
| 1.10%, 03/13/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 780<br>| 735233 |
| 1.25%, 05/12/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 599954 |
| 1.38%, 01/15/2120<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 435<br>| 266506 |
| 1.45%, 02/16/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 210458 |
| 1.45%, 01/19/2122<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 124459 |
| 1.50%, 06/12/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 491752 |
| 1.55%, 06/16/48<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 616229 |
| 1.63%, 10/24/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 329487 |
| 1.65%, 02/22/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 980<br>| 920620 |
| 1.65%, 05/16/47<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 470<br>| 396754 |
| 1.75%, 10/26/57<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 480<br>| 386386 |
| 1.75%, 07/11/68<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 311254 |
| 1.95%, 09/26/78<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 565<br>| 458590 |
| 2.15%, 12/31/99<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 795<br>| 661503 |
| 2.25%, 06/14/52<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 184194 |
| 2.90%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1161701 |
| 3.00%, 06/06/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 332915 |
| 3.00%, 03/20/54<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 321660 |
| 3.15%, 11/20/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,280<br>| 1412247 |
| 3.40%, 03/07/73<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 426052 |
| State of Rhineland-Palatinate |  |  |
| 0.00%, 01/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 744418 |
| 0.05%, 01/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 425<br>| 407435 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 0.38%, 01/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| $311817 |
| 0.38%, 03/10/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 114666 |
| 0.75%, 01/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 745031 |
| 2.75%, 02/23/28 | &nbsp;&nbsp; EUR<br> 1,490<br>| 1638030 |
| 3.00%, 05/02/34 | &nbsp;&nbsp; EUR<br> 200<br>| 223464 |
| State of Saxony-Anhalt |  |  |
| 0.00%, 03/10/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 277957 |
| 0.50%, 06/25/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 464839 |
| 0.75%, 01/29/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 202563 |
| 2.75%, 01/23/34 | &nbsp;&nbsp; EUR<br> 200<br>| 218407 |
| 2.95%, 06/20/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 278247 |
| 3.15%, 02/06/54 | &nbsp;&nbsp; EUR<br> 490<br>| 549870 |
| State of Schleswig-Holstein Germany |  |  |
| 0.05%, 07/08/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 460679 |
| 0.13%, 06/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 537089 |
| 0.20%, 08/15/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 184433 |
| 0.38%, 02/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207717 |
| 2.88%, 05/10/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 440795 |
| 2.88%, 06/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1105622 |
| 3.00%, 08/16/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 895381 |
|  |  | 372673297 |
| **Greece — 0.2%** | **Greece — 0.2%** | **Greece — 0.2%** |
| Hellenic Republic Government Bond |  |  |
| 1.88%, 07/23/26<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1080764 |
| 3.38%, 06/15/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1094141 |
| 3.88%, 06/15/28<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 3,620<br>| 4111244 |
| 3.90%, 01/30/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,000<br>| 5727512 |
| 4.13%, 06/15/54<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 884<br>| 983496 |
| 4.20%, 01/30/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 430<br>| 493422 |
| 4.38%, 07/18/38<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 3,000<br>| 3510265 |
|  |  | 17000844 |
| **Hong Kong — 0.0%** | **Hong Kong — 0.0%** | **Hong Kong — 0.0%** |
| Hong Kong Government International Bond |  |  |
| 3.38%, 06/07/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 382<br>| 422340 |
| 3.75%, 06/07/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 227373 |
|  |  | 649713 |
| **Hungary — 0.2%** | **Hungary — 0.2%** | **Hungary — 0.2%** |
| Hungary Government Bond |  |  |
| 2.25%, 04/20/33 | &nbsp;&nbsp; HUF<br> 378,920<br>| 718440 |
| 2.25%, 06/22/34 | &nbsp;&nbsp; HUF<br> 150,000<br>| 271836 |
| 2.75%, 12/22/26 | &nbsp;&nbsp; HUF<br> 411,470<br>| 1019866 |
| 3.00%, 10/27/27 | &nbsp;&nbsp; HUF<br> 447,180<br>| 1079283 |
| 3.00%, 08/21/30 | &nbsp;&nbsp; HUF<br> 367,180<br>| 809829 |
| 3.00%, 10/27/38 | &nbsp;&nbsp; HUF<br> 348,710<br>| 605996 |
| 3.00%, 04/25/41 | &nbsp;&nbsp; HUF<br> 200,000<br>| 326448 |
| 3.25%, 10/22/31 | &nbsp;&nbsp; HUF<br> 255,650<br>| 552829 |
| 4.75%, 11/24/32 | &nbsp;&nbsp; HUF<br> 324,240<br>| 755360 |
| 5.50%, 06/24/25 | &nbsp;&nbsp; HUF<br> 266,930<br>| 711916 |
| 6.75%, 10/22/28 | &nbsp;&nbsp; HUF<br> 404,590<br>| 1081649 |
| Hungary Government International Bond |  |  |
| 1.25%, 10/22/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 310<br>| 330758 |
| 1.63%, 04/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 623<br>| 570337 |
| 4.00%, 07/25/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 604986 |
| 4.25%, 06/16/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 440783 |
| 5.00%, 02/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 282084 |
| 5.38%, 09/12/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 577179 |
| Magyar Export-Import Bank Zrt, 6.00%, <br> 05/16/29<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 550<br>| 641552 |
|  |  | 11381131 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Indonesia — 0.8%** | **Indonesia — 0.8%** | **Indonesia — 0.8%** |
| Indonesia Government International Bond |  |  |
| 0.90%, 02/14/27 | &nbsp;&nbsp; EUR<br> 100<br>| $102792 |
| 1.10%, 03/12/33 | &nbsp;&nbsp; EUR<br> 200<br>| 178709 |
| 1.40%, 10/30/31 | &nbsp;&nbsp; EUR<br> 300<br>| 282302 |
| 1.75%, 04/24/25 | &nbsp;&nbsp; EUR<br> 200<br>| 215584 |
| 3.75%, 06/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 441063 |
| Indonesia Treasury Bond |  |  |
| 5.13%, 04/15/27 | &nbsp;&nbsp; IDR<br> 39,000,000<br>| 2408890 |
| 6.25%, 06/15/36 | &nbsp;&nbsp; IDR<br> 17,555,000<br>| 1068176 |
| 6.38%, 08/15/28 | &nbsp;&nbsp; IDR<br> 48,232,000<br>| 3046960 |
| 6.38%, 04/15/32 | &nbsp;&nbsp; IDR<br> 43,000,000<br>| 2676211 |
| 6.38%, 07/15/37 | &nbsp;&nbsp; IDR<br> 20,485,000<br>| 1249971 |
| 6.50%, 02/15/31 | &nbsp;&nbsp; IDR<br> 60,396,000<br>| 3798079 |
| 6.63%, 02/15/34 | &nbsp;&nbsp; IDR<br> 70,000,000<br>| 4422301 |
| 6.88%, 04/15/29 | &nbsp;&nbsp; IDR<br> 25,000,000<br>| 1604811 |
| 6.88%, 08/15/51 | &nbsp;&nbsp; IDR<br> 15,000,000<br>| 942116 |
| 6.88%, 07/15/54 | &nbsp;&nbsp; IDR<br> 15,000,000<br>| 948904 |
| 7.00%, 05/15/27 | &nbsp;&nbsp; IDR<br> 25,000,000<br>| 1611490 |
| 7.00%, 09/15/30 | &nbsp;&nbsp; IDR<br> 40,048,000<br>| 2584038 |
| 7.00%, 02/15/33 | &nbsp;&nbsp; IDR<br> 44,413,000<br>| 2864760 |
| 7.13%, 06/15/38 | &nbsp;&nbsp; IDR<br> 22,030,000<br>| 1423079 |
| 7.13%, 06/15/42 | &nbsp;&nbsp; IDR<br> 21,144,000<br>| 1364231 |
| 7.13%, 06/15/43 | &nbsp;&nbsp; IDR<br> 31,842,000<br>| 2047085 |
| 7.25%, 02/15/26 | &nbsp;&nbsp; IDR<br> 36,000,000<br>| 2318232 |
| 7.38%, 05/15/48 | &nbsp;&nbsp; IDR<br> 27,269,000<br>| 1811282 |
| 7.50%, 08/15/32 | &nbsp;&nbsp; IDR<br> 41,912,000<br>| 2778520 |
| 7.50%, 06/15/35 | &nbsp;&nbsp; IDR<br> 28,000,000<br>| 1864610 |
| 7.50%, 04/15/40 | &nbsp;&nbsp; IDR<br> 26,210,000<br>| 1750907 |
| 8.25%, 05/15/29 | &nbsp;&nbsp; IDR<br> 58,031,000<br>| 3919706 |
| 8.25%, 05/15/36 | &nbsp;&nbsp; IDR<br> 18,000,000<br>| 1264415 |
| 8.38%, 09/15/26 | &nbsp;&nbsp; IDR<br> 9,000,000<br>| 592852 |
| 8.38%, 03/15/34 | &nbsp;&nbsp; IDR<br> 38,000,000<br>| 2668947 |
| 8.38%, 04/15/39 | &nbsp;&nbsp; IDR<br> 19,760,000<br>| 1416842 |
| 8.75%, 02/15/44 | &nbsp;&nbsp; IDR<br> 12,320,000<br>| 921167 |
| Perusahaan Penerbit SBSN Indonesia, 8.88%, <br> 11/15/31<br>| &nbsp;&nbsp; IDR<br> 7,600,000<br>| 547090 |
|  |  | 57136122 |
| **Ireland — 0.4%** | **Ireland — 0.4%** | **Ireland — 0.4%** |
| Ireland Government Bond |  |  |
| 0.00%, 10/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,955<br>| 2700726 |
| 0.20%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,254<br>| 2326918 |
| 0.20%, 10/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,387<br>| 1320142 |
| 0.35%, 10/18/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,021<br>| 935053 |
| 0.40%, 05/15/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,105<br>| 945607 |
| 0.55%, 04/22/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 898<br>| 678250 |
| 0.90%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 681<br>| 705544 |
| 1.00%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,978<br>| 3174667 |
| 1.10%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,263<br>| 2324349 |
| 1.30%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 565<br>| 553683 |
| 1.35%, 03/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 694<br>| 703695 |
| 1.50%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,042<br>| 1667553 |
| 1.70%, 05/15/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 667<br>| 638962 |
| 2.00%, 02/18/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,083<br>| 2886034 |
| 2.40%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,290<br>| 1398490 |
| 2.60%, 10/18/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,230<br>| 1324957 |
| 3.00%, 10/18/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 552312 |
|  |  | 24836942 |
| **Israel — 0.2%** | **Israel — 0.2%** | **Israel — 0.2%** |
| Israel Government Bond |  |  |
| 0.50%, 02/27/26 | &nbsp;&nbsp; ILS<br> 2,650<br>| 673862 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| 1.00%, 03/31/30 | &nbsp;&nbsp; ILS<br> 8,376<br>| $1855712 |
| 1.30%, 04/30/32 | &nbsp;&nbsp; ILS<br> 6,733<br>| 1416740 |
| 1.50%, 05/31/37 | &nbsp;&nbsp; ILS<br> 7,977<br>| 1455922 |
| 1.75%, 08/31/25 | &nbsp;&nbsp; ILS<br> 3,049<br>| 799726 |
| 2.00%, 03/31/27 | &nbsp;&nbsp; ILS<br> 1,550<br>| 391145 |
| 2.25%, 09/28/28 | &nbsp;&nbsp; ILS<br> 4,628<br>| 1135362 |
| 2.80%, 11/29/52 | &nbsp;&nbsp; ILS<br> 2,890<br>| 496826 |
| 3.75%, 02/28/29 | &nbsp;&nbsp; ILS<br> 5,568<br>| 1439131 |
| 3.75%, 03/31/47 | &nbsp;&nbsp; ILS<br> 6,642<br>| 1446902 |
| 4.00%, 03/30/35 | &nbsp;&nbsp; ILS<br> 2,000<br>| 499257 |
| 5.50%, 01/31/42 | &nbsp;&nbsp; ILS<br> 4,816<br>| 1354726 |
| 6.25%, 10/30/26 | &nbsp;&nbsp; ILS<br> 3,443<br>| 952101 |
| Israel Government Bond - Fixed, 0.50%, <br> 04/30/25<br>| &nbsp;&nbsp; ILS<br> 5,000<br>| 1315949 |
| Israel Government International Bond |  |  |
| 0.63%, 01/18/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 503691 |
| 1.50%, 01/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 102552 |
| 1.50%, 01/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 489467 |
| 2.50%, 01/16/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 333567 |
| 5.00%, 10/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 221697 |
|  |  | 16884335 |
| **Italy — 5.3%** | **Italy — 5.3%** | **Italy — 5.3%** |
| Cassa Depositi e Prestiti SpA |  |  |
| 1.00%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 300019 |
| 1.00%, 02/11/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 96373 |
| 2.13%, 03/21/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 107470 |
| 4.75%, 10/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 692506 |
| Italy Buoni Poliennali Del Tesoro |  |  |
| 0.00%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,970<br>| 4158264 |
| 0.00%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,167<br>| 2251577 |
| 0.25%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,033<br>| 4031373 |
| 0.45%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,558<br>| 2511487 |
| 0.50%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 6,475<br>| 6851984 |
| 0.50%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,447<br>| 5448393 |
| 0.60%, 08/01/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,553<br>| 5092909 |
| 0.85%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,345<br>| 4543512 |
| 0.90%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,740<br>| 4475840 |
| 0.95%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,060<br>| 5237224 |
| 0.95%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,218<br>| 4069649 |
| 0.95%, 12/01/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,084<br>| 5666525 |
| 0.95%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 6,810<br>| 6256927 |
| 0.95%, 03/01/37<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,128<br>| 1687880 |
| 1.10%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,181<br>| 2285443 |
| 1.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,527<br>| 2671614 |
| 1.35%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,873<br>| 4852895 |
| 1.45%, 03/01/36<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,700<br>| 4077254 |
| 1.50%, 04/30/45<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,016<br>| 2163436 |
| 1.60%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,820<br>| 3018556 |
| 1.65%, 12/01/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,248<br>| 2242833 |
| 1.65%, 03/01/32<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,753<br>| 5612827 |
| 1.70%, 09/01/51<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,850<br>| 2642469 |
| 1.80%, 03/01/41<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 4,020<br>| 3256816 |
| 2.00%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,649<br>| 5020931 |
| 2.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,792<br>| 4029020 |
| 2.05%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,559<br>| 4873877 |
| 2.15%, 09/01/52<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,692<br>| 2013726 |
| 2.15%, 03/01/72<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 219545 |
| 2.15%, 03/01/72<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,586<br>| 1088118 |
| 2.20%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,333<br>| 1432915 |
| 2.25%, 09/01/36<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,180<br>| 2992042 |
| 2.45%, 09/01/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,872<br>| 4921430 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| 2.45%, 09/01/50<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,773<br>| $2259779 |
| 2.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,656<br>| 3969488 |
| 2.50%, 12/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 6,360<br>| 6514954 |
| 2.65%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,389<br>| 8012967 |
| 2.70%, 03/01/47<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,824<br>| 3368613 |
| 2.80%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,610<br>| 6094014 |
| 2.80%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,603<br>| 3891179 |
| 2.80%, 03/01/67<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,632<br>| 1349793 |
| 2.95%, 09/01/38<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,854<br>| 2819627 |
| 3.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,468<br>| 5960838 |
| 3.10%, 03/01/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,704<br>| 1682690 |
| 3.20%, 01/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,350<br>| 2568173 |
| 3.25%, 03/01/38<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,849<br>| 1893647 |
| 3.25%, 09/01/46<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,502<br>| 4357669 |
| 3.35%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,735<br>| 4123770 |
| 3.35%, 03/01/35<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,349<br>| 3575264 |
| 3.40%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,964<br>| 4391888 |
| 3.45%, 03/01/48<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,857<br>| 2833379 |
| 3.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,790<br>| 6350723 |
| 3.50%, 03/01/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 14,097<br>| 15705493 |
| 3.50%, 02/15/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,400<br>| 2652058 |
| 3.60%, 09/29/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,930<br>| 3207901 |
| 3.80%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,561<br>| 2876993 |
| 3.85%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 23,240<br>| 25792969 |
| 3.85%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 8,123<br>| 9169926 |
| 3.85%, 07/01/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,565<br>| 5087359 |
| 3.85%, 02/01/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,471<br>| 3849694 |
| 3.85%, 09/01/49<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,357<br>| 4580857 |
| 4.00%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,110<br>| 4670240 |
| 4.00%, 10/30/31<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,200<br>| 2512598 |
| 4.00%, 04/30/35<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,510<br>| 2839553 |
| 4.00%, 02/01/37<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,717<br>| 7551296 |
| 4.10%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,960<br>| 6780370 |
| 4.15%, 10/01/39<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,160<br>| 4644096 |
| 4.15%, 10/01/39<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,214<br>| 2471642 |
| 4.20%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 5,160<br>| 5922670 |
| 4.30%, 10/01/54<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1213317 |
| 4.35%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,950<br>| 3430145 |
| 4.40%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,972<br>| 5812899 |
| 4.45%, 09/01/43<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,260<br>| 2590417 |
| 4.45%, 09/01/43<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 860<br>| 985734 |
| 4.50%, 03/01/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,903<br>| 2116642 |
| 4.50%, 10/01/53<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,126<br>| 2446992 |
| 4.75%, 09/01/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,699<br>| 4298923 |
| 4.75%, 09/01/44<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,139<br>| 7339859 |
| 5.00%, 08/01/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,674<br>| 6918215 |
| 5.00%, 08/01/39<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,573<br>| 6812516 |
| 5.00%, 09/01/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,761<br>| 4594053 |
| 5.25%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 872<br>| 1049397 |
| 5.75%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,535<br>| 5763231 |
| 6.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,905<br>| 3686128 |
| 6.50%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,764<br>| 3330373 |
| Republic of Italy Government International Bond, <br> 5.20%, 07/31/34<br>| &nbsp;&nbsp; EUR<br> 950<br>| 1137616 |
|  |  | 372756286 |
| **Japan — 10.9%** | **Japan — 10.9%** | **Japan — 10.9%** |
| Development Bank of Japan Inc., 0.88%, <br> 10/10/25<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 700<br>| 747823 |
| Japan Bank for International Cooperation, <br> 2.63%, 10/17/30<br>| &nbsp;&nbsp; EUR<br> 1,000<br>| 1082572 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Japan Government Five Year Bond |  |  |
| 0.00%, 03/20/26 | &nbsp;&nbsp; JPY<br> 593,450<br>| $3886922 |
| 0.00%, 06/20/26 | &nbsp;&nbsp; JPY<br> 1,775,000<br>| 11606972 |
| 0.00%, 09/20/26 | &nbsp;&nbsp; JPY<br> 991,400<br>| 6474682 |
| 0.00%, 12/20/26 | &nbsp;&nbsp; JPY<br> 795,900<br>| 5191234 |
| 0.00%, 03/20/27 | &nbsp;&nbsp; JPY<br> 700,000<br>| 4560589 |
| 0.00%, 06/20/27 | &nbsp;&nbsp; JPY<br> 684,450<br>| 4454349 |
| 0.10%, 12/20/25 | &nbsp;&nbsp; JPY<br> 1,531,950<br>| 10057845 |
| 0.10%, 03/20/27 | &nbsp;&nbsp; JPY<br> 600,000<br>| 3918172 |
| 0.10%, 09/20/27 | &nbsp;&nbsp; JPY<br> 1,132,600<br>| 7382133 |
| 0.10%, 03/20/28 | &nbsp;&nbsp; JPY<br> 510,600<br>| 3318515 |
| 0.10%, 06/20/28 | &nbsp;&nbsp; JPY<br> 540,000<br>| 3506070 |
| 0.20%, 12/20/27 | &nbsp;&nbsp; JPY<br> 560,650<br>| 3660800 |
| 0.20%, 03/20/28 | &nbsp;&nbsp; JPY<br> 900,000<br>| 5868669 |
| 0.20%, 12/20/28 | &nbsp;&nbsp; JPY<br> 720,000<br>| 4675496 |
| 0.30%, 12/20/27 | &nbsp;&nbsp; JPY<br> 455,350<br>| 2982150 |
| 0.30%, 09/20/28 | &nbsp;&nbsp; JPY<br> 750,000<br>| 4898584 |
| 0.30%, 12/20/28 | &nbsp;&nbsp; JPY<br> 800,300<br>| 5219660 |
| 0.40%, 03/20/29 | &nbsp;&nbsp; JPY<br> 1,500,000<br>| 9817361 |
| 0.50%, 06/20/29 | &nbsp;&nbsp; JPY<br> 624,950<br>| 4101423 |
| 0.60%, 03/20/29 | &nbsp;&nbsp; JPY<br> 401,300<br>| 2647034 |
| 0.60%, 06/20/29 | &nbsp;&nbsp; JPY<br> 1,040,600<br>| 6865763 |
| Japan Government Forty Year Bond |  |  |
| 0.40%, 03/20/56 | &nbsp;&nbsp; JPY<br> 464,850<br>| 1803123 |
| 0.50%, 03/20/59 | &nbsp;&nbsp; JPY<br> 192,750<br>| 731919 |
| 0.50%, 03/20/60 | &nbsp;&nbsp; JPY<br> 593,450<br>| 2201946 |
| 0.70%, 03/20/61 | &nbsp;&nbsp; JPY<br> 533,800<br>| 2099694 |
| 0.80%, 03/20/58 | &nbsp;&nbsp; JPY<br> 215,600<br>| 935497 |
| 0.90%, 03/20/57 | &nbsp;&nbsp; JPY<br> 364,550<br>| 1661266 |
| 1.00%, 03/20/62 | &nbsp;&nbsp; JPY<br> 428,550<br>| 1854200 |
| 1.30%, 03/20/63 | &nbsp;&nbsp; JPY<br> 429,900<br>| 2030518 |
| 1.40%, 03/20/55 | &nbsp;&nbsp; JPY<br> 510,150<br>| 2762075 |
| 1.70%, 03/20/54 | &nbsp;&nbsp; JPY<br> 72,150<br>| 424689 |
| 1.90%, 03/20/53 | &nbsp;&nbsp; JPY<br> 131,800<br>| 820355 |
| 2.00%, 03/20/52 | &nbsp;&nbsp; JPY<br> 84,500<br>| 542079 |
| 2.20%, 03/20/49 | &nbsp;&nbsp; JPY<br> 77,000<br>| 525839 |
| 2.20%, 03/20/50 | &nbsp;&nbsp; JPY<br> 116,250<br>| 786868 |
| 2.20%, 03/20/51 | &nbsp;&nbsp; JPY<br> 295,250<br>| 1987738 |
| 2.20%, 03/20/64 | &nbsp;&nbsp; JPY<br> 219,850<br>| 1348082 |
| Japan Government Ten Year Bond |  |  |
| 0.10%, 03/20/26 | &nbsp;&nbsp; JPY<br> 393,650<br>| 2581732 |
| 0.10%, 06/20/26 | &nbsp;&nbsp; JPY<br> 1,662,000<br>| 10884897 |
| 0.10%, 09/20/26 | &nbsp;&nbsp; JPY<br> 904,700<br>| 5918711 |
| 0.10%, 12/20/26 | &nbsp;&nbsp; JPY<br> 900,800<br>| 5888342 |
| 0.10%, 03/20/27 | &nbsp;&nbsp; JPY<br> 505,000<br>| 3297588 |
| 0.10%, 06/20/27 | &nbsp;&nbsp; JPY<br> 990,700<br>| 6463062 |
| 0.10%, 09/20/27 | &nbsp;&nbsp; JPY<br> 1,108,500<br>| 7225503 |
| 0.10%, 12/20/27 | &nbsp;&nbsp; JPY<br> 817,750<br>| 5324404 |
| 0.10%, 03/20/28 | &nbsp;&nbsp; JPY<br> 976,150<br>| 6347230 |
| 0.10%, 06/20/28 | &nbsp;&nbsp; JPY<br> 2,171,250<br>| 14092975 |
| 0.10%, 09/20/28 | &nbsp;&nbsp; JPY<br> 1,565,250<br>| 10147946 |
| 0.10%, 12/20/28 | &nbsp;&nbsp; JPY<br> 1,086,750<br>| 7033270 |
| 0.10%, 03/20/29 | &nbsp;&nbsp; JPY<br> 1,170,000<br>| 7553615 |
| 0.10%, 06/20/29 | &nbsp;&nbsp; JPY<br> 1,370,450<br>| 8833196 |
| 0.10%, 09/20/29 | &nbsp;&nbsp; JPY<br> 2,198,550<br>| 14148740 |
| 0.10%, 12/20/29 | &nbsp;&nbsp; JPY<br> 553,300<br>| 3553965 |
| 0.10%, 03/20/30 | &nbsp;&nbsp; JPY<br> 2,346,900<br>| 15054358 |
| 0.10%, 06/20/30 | &nbsp;&nbsp; JPY<br> 723,650<br>| 4638022 |
| 0.10%, 09/20/30 | &nbsp;&nbsp; JPY<br> 598,300<br>| 3824542 |
| 0.10%, 12/20/30 | &nbsp;&nbsp; JPY<br> 278,150<br>| 1776176 |
| 0.10%, 03/20/31 | &nbsp;&nbsp; JPY<br> 1,316,600<br>| 8383552 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| 0.10%, 06/20/31 | &nbsp;&nbsp; JPY<br> 1,185,700<br>| $7538434 |
| 0.10%, 09/20/31 | &nbsp;&nbsp; JPY<br> 1,433,950<br>| 9097845 |
| 0.10%, 12/20/31 | &nbsp;&nbsp; JPY<br> 763,600<br>| 4832153 |
| 0.20%, 03/20/32 | &nbsp;&nbsp; JPY<br> 1,088,750<br>| 6923885 |
| 0.20%, 06/20/32 | &nbsp;&nbsp; JPY<br> 926,500<br>| 5873770 |
| 0.20%, 09/20/32 | &nbsp;&nbsp; JPY<br> 1,140,700<br>| 7212885 |
| 0.30%, 12/20/25 | &nbsp;&nbsp; JPY<br> 546,700<br>| 3597110 |
| 0.40%, 06/20/33 | &nbsp;&nbsp; JPY<br> 1,381,250<br>| 8796117 |
| 0.50%, 12/20/32 | &nbsp;&nbsp; JPY<br> 1,241,300<br>| 8018647 |
| 0.50%, 03/20/33 | &nbsp;&nbsp; JPY<br> 1,426,550<br>| 9188264 |
| 0.60%, 12/20/33 | &nbsp;&nbsp; JPY<br> 1,209,500<br>| 7790063 |
| 0.80%, 09/20/33 | &nbsp;&nbsp; JPY<br> 1,652,550<br>| 10864893 |
| 0.80%, 03/20/34 | &nbsp;&nbsp; JPY<br> 1,328,050<br>| 8683491 |
| 1.10%, 06/20/34 | &nbsp;&nbsp; JPY<br> 1,612,750<br>| 10796781 |
| Japan Government Thirty Year Bond |  |  |
| 0.30%, 06/20/46 | &nbsp;&nbsp; JPY<br> 179,800<br>| 851980 |
| 0.40%, 06/20/49 | &nbsp;&nbsp; JPY<br> 163,650<br>| 740443 |
| 0.40%, 09/20/49 | &nbsp;&nbsp; JPY<br> 395,350<br>| 1776380 |
| 0.40%, 12/20/49 | &nbsp;&nbsp; JPY<br> 131,750<br>| 589093 |
| 0.40%, 03/20/50 | &nbsp;&nbsp; JPY<br> 156,300<br>| 694222 |
| 0.50%, 09/20/46 | &nbsp;&nbsp; JPY<br> 184,350<br>| 911176 |
| 0.50%, 03/20/49 | &nbsp;&nbsp; JPY<br> 135,000<br>| 631654 |
| 0.60%, 12/20/46 | &nbsp;&nbsp; JPY<br> 535,100<br>| 2692498 |
| 0.60%, 06/20/50 | &nbsp;&nbsp; JPY<br> 203,700<br>| 952356 |
| 0.60%, 09/20/50 | &nbsp;&nbsp; JPY<br> 422,350<br>| 1963274 |
| 0.70%, 06/20/48 | &nbsp;&nbsp; JPY<br> 308,100<br>| 1540090 |
| 0.70%, 12/20/48 | &nbsp;&nbsp; JPY<br> 196,900<br>| 976541 |
| 0.70%, 12/20/50 | &nbsp;&nbsp; JPY<br> 363,700<br>| 1730309 |
| 0.70%, 03/20/51 | &nbsp;&nbsp; JPY<br> 775,600<br>| 3669403 |
| 0.70%, 06/20/51 | &nbsp;&nbsp; JPY<br> 231,500<br>| 1090372 |
| 0.70%, 09/20/51 | &nbsp;&nbsp; JPY<br> 274,950<br>| 1289032 |
| 0.70%, 12/20/51 | &nbsp;&nbsp; JPY<br> 247,700<br>| 1156078 |
| 0.80%, 03/20/46 | &nbsp;&nbsp; JPY<br> 881,250<br>| 4710354 |
| 0.80%, 03/20/47 | &nbsp;&nbsp; JPY<br> 927,350<br>| 4861380 |
| 0.80%, 06/20/47 | &nbsp;&nbsp; JPY<br> 647,000<br>| 3373597 |
| 0.80%, 09/20/47 | &nbsp;&nbsp; JPY<br> 160,550<br>| 834723 |
| 0.80%, 12/20/47 | &nbsp;&nbsp; JPY<br> 175,150<br>| 906543 |
| 0.80%, 03/20/48 | &nbsp;&nbsp; JPY<br> 799,050<br>| 4119852 |
| 0.90%, 09/20/48 | &nbsp;&nbsp; JPY<br> 206,800<br>| 1082426 |
| 1.00%, 03/20/52 | &nbsp;&nbsp; JPY<br> 321,600<br>| 1625753 |
| 1.20%, 06/20/53 | &nbsp;&nbsp; JPY<br> 240,000<br>| 1255645 |
| 1.30%, 06/20/52 | &nbsp;&nbsp; JPY<br> 255,350<br>| 1391038 |
| 1.40%, 09/20/45 | &nbsp;&nbsp; JPY<br> 307,200<br>| 1869286 |
| 1.40%, 12/20/45 | &nbsp;&nbsp; JPY<br> 216,800<br>| 1313946 |
| 1.40%, 09/20/52 | &nbsp;&nbsp; JPY<br> 374,200<br>| 2080875 |
| 1.40%, 03/20/53 | &nbsp;&nbsp; JPY<br> 376,550<br>| 2081841 |
| 1.50%, 12/20/44 | &nbsp;&nbsp; JPY<br> 217,150<br>| 1357832 |
| 1.50%, 03/20/45 | &nbsp;&nbsp; JPY<br> 192,600<br>| 1200991 |
| 1.60%, 06/20/45 | &nbsp;&nbsp; JPY<br> 281,000<br>| 1776816 |
| 1.60%, 12/20/52 | &nbsp;&nbsp; JPY<br> 432,300<br>| 2517501 |
| 1.60%, 12/20/53 | &nbsp;&nbsp; JPY<br> 350,750<br>| 2020948 |
| 1.70%, 06/20/44 | &nbsp;&nbsp; JPY<br> 62,050<br>| 404337 |
| 1.70%, 09/20/44 | &nbsp;&nbsp; JPY<br> 216,850<br>| 1406585 |
| 1.80%, 03/20/43 | &nbsp;&nbsp; JPY<br> 99,600<br>| 668401 |
| 1.80%, 09/20/43 | &nbsp;&nbsp; JPY<br> 189,800<br>| 1266954 |
| 1.80%, 09/20/53 | &nbsp;&nbsp; JPY<br> 235,600<br>| 1427719 |
| 1.80%, 03/20/54 | &nbsp;&nbsp; JPY<br> 448,850<br>| 2712145 |
| 1.90%, 09/20/42 | &nbsp;&nbsp; JPY<br> 519,350<br>| 3552429 |
| 1.90%, 06/20/43 | &nbsp;&nbsp; JPY<br> 236,950<br>| 1610034 |
| 2.00%, 09/20/40 | &nbsp;&nbsp; JPY<br> 242,600<br>| 1706567 |
| 2.00%, 09/20/41 | &nbsp;&nbsp; JPY<br> 488,000<br>| 3411247 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| 2.00%, 03/20/42 | &nbsp;&nbsp; JPY<br> 206,300<br>| $1436459 |
| 2.20%, 09/20/39 | &nbsp;&nbsp; JPY<br> 610,950<br>| 4436194 |
| 2.20%, 03/20/41 | &nbsp;&nbsp; JPY<br> 446,300<br>| 3211816 |
| 2.20%, 06/20/54 | &nbsp;&nbsp; JPY<br> 849,800<br>| 5609116 |
| 2.30%, 03/20/35 | &nbsp;&nbsp; JPY<br> 34,550<br>| 256731 |
| 2.30%, 06/20/35 | &nbsp;&nbsp; JPY<br> 53,250<br>| 395554 |
| 2.30%, 12/20/35 | &nbsp;&nbsp; JPY<br> 155,000<br>| 1151181 |
| 2.30%, 03/20/39 | &nbsp;&nbsp; JPY<br> 205,700<br>| 1515288 |
| 2.30%, 03/20/40 | &nbsp;&nbsp; JPY<br> 347,450<br>| 2547863 |
| 2.40%, 03/20/34 | &nbsp;&nbsp; JPY<br> 31,250<br>| 233622 |
| 2.40%, 09/20/38 | &nbsp;&nbsp; JPY<br> 332,450<br>| 2482189 |
| 2.50%, 06/20/34 | &nbsp;&nbsp; JPY<br> 32,050<br>| 241736 |
| 2.50%, 09/20/34 | &nbsp;&nbsp; JPY<br> 525,900<br>| 3967443 |
| 2.50%, 09/20/37 | &nbsp;&nbsp; JPY<br> 49,000<br>| 370424 |
| 2.50%, 03/20/38 | &nbsp;&nbsp; JPY<br> 25,700<br>| 194154 |
| Japan Government Twenty Year Bond |  |  |
| 0.20%, 06/20/36 | &nbsp;&nbsp; JPY<br> 295,750<br>| 1750846 |
| 0.30%, 06/20/39 | &nbsp;&nbsp; JPY<br> 492,300<br>| 2768552 |
| 0.30%, 09/20/39 | &nbsp;&nbsp; JPY<br> 168,300<br>| 940781 |
| 0.30%, 12/20/39 | &nbsp;&nbsp; JPY<br> 469,850<br>| 2609591 |
| 0.40%, 03/20/36 | &nbsp;&nbsp; JPY<br> 450,550<br>| 2745302 |
| 0.40%, 03/20/39 | &nbsp;&nbsp; JPY<br> 151,000<br>| 866046 |
| 0.40%, 03/20/40 | &nbsp;&nbsp; JPY<br> 424,600<br>| 2383694 |
| 0.40%, 06/20/40 | &nbsp;&nbsp; JPY<br> 630,650<br>| 3520380 |
| 0.40%, 09/20/40 | &nbsp;&nbsp; JPY<br> 377,500<br>| 2095173 |
| 0.40%, 06/20/41 | &nbsp;&nbsp; JPY<br> 966,000<br>| 5274110 |
| 0.50%, 09/20/36 | &nbsp;&nbsp; JPY<br> 751,750<br>| 4593406 |
| 0.50%, 03/20/38 | &nbsp;&nbsp; JPY<br> 388,300<br>| 2308356 |
| 0.50%, 06/20/38 | &nbsp;&nbsp; JPY<br> 674,900<br>| 3991517 |
| 0.50%, 12/20/38 | &nbsp;&nbsp; JPY<br> 841,600<br>| 4927366 |
| 0.50%, 12/20/40 | &nbsp;&nbsp; JPY<br> 325,300<br>| 1827169 |
| 0.50%, 03/20/41 | &nbsp;&nbsp; JPY<br> 428,200<br>| 2391865 |
| 0.50%, 09/20/41 | &nbsp;&nbsp; JPY<br> 352,700<br>| 1950741 |
| 0.50%, 12/20/41 | &nbsp;&nbsp; JPY<br> 614,100<br>| 3374838 |
| 0.60%, 12/20/36 | &nbsp;&nbsp; JPY<br> 260,850<br>| 1606720 |
| 0.60%, 06/20/37 | &nbsp;&nbsp; JPY<br> 705,900<br>| 4307216 |
| 0.60%, 09/20/37 | &nbsp;&nbsp; JPY<br> 345,700<br>| 2102563 |
| 0.60%, 12/20/37 | &nbsp;&nbsp; JPY<br> 537,000<br>| 3249877 |
| 0.70%, 03/20/37 | &nbsp;&nbsp; JPY<br> 249,450<br>| 1548599 |
| 0.70%, 09/20/38 | &nbsp;&nbsp; JPY<br> 300,000<br>| 1815785 |
| 0.80%, 03/20/42 | &nbsp;&nbsp; JPY<br> 509,950<br>| 2941120 |
| 0.90%, 06/20/42 | &nbsp;&nbsp; JPY<br> 695,700<br>| 4067867 |
| 1.00%, 12/20/35 | &nbsp;&nbsp; JPY<br> 673,650<br>| 4400105 |
| 1.10%, 09/20/42 | &nbsp;&nbsp; JPY<br> 681,100<br>| 4100355 |
| 1.10%, 03/20/43 | &nbsp;&nbsp; JPY<br> 435,000<br>| 2602185 |
| 1.10%, 06/20/43 | &nbsp;&nbsp; JPY<br> 639,950<br>| 3808928 |
| 1.20%, 12/20/34 | &nbsp;&nbsp; JPY<br> 979,050<br>| 6592032 |
| 1.20%, 03/20/35 | &nbsp;&nbsp; JPY<br> 316,450<br>| 2125638 |
| 1.20%, 09/20/35 | &nbsp;&nbsp; JPY<br> 552,400<br>| 3690196 |
| 1.30%, 06/20/35 | &nbsp;&nbsp; JPY<br> 190,450<br>| 1288628 |
| 1.30%, 12/20/43 | &nbsp;&nbsp; JPY<br> 654,350<br>| 4008787 |
| 1.40%, 09/20/34 | &nbsp;&nbsp; JPY<br> 741,200<br>| 5092401 |
| 1.40%, 12/20/42 | &nbsp;&nbsp; JPY<br> 664,050<br>| 4186395 |
| 1.50%, 03/20/34 | &nbsp;&nbsp; JPY<br> 286,800<br>| 1992836 |
| 1.50%, 06/20/34 | &nbsp;&nbsp; JPY<br> 464,800<br>| 3227242 |
| 1.50%, 09/20/43 | &nbsp;&nbsp; JPY<br> 87,550<br>| 556131 |
| 1.60%, 06/20/30 | &nbsp;&nbsp; JPY<br> 29,550<br>| 205386 |
| 1.60%, 03/20/32 | &nbsp;&nbsp; JPY<br> 107,500<br>| 753957 |
| 1.60%, 06/20/32 | &nbsp;&nbsp; JPY<br> 1,000,000<br>| 7025634 |
| 1.60%, 03/20/33 | &nbsp;&nbsp; JPY<br> 97,000<br>| 681952 |
| 1.60%, 12/20/33 | &nbsp;&nbsp; JPY<br> 323,350<br>| 2270029 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| 1.60%, 03/20/44 | &nbsp;&nbsp; JPY<br> 125,750<br>| $807643 |
| 1.70%, 12/20/31 | &nbsp;&nbsp; JPY<br> 121,950<br>| 860059 |
| 1.70%, 03/20/32 | &nbsp;&nbsp; JPY<br> 107,800<br>| 761322 |
| 1.70%, 06/20/32 | &nbsp;&nbsp; JPY<br> 118,500<br>| 837134 |
| 1.70%, 12/20/32 | &nbsp;&nbsp; JPY<br> 103,000<br>| 729467 |
| 1.70%, 06/20/33 | &nbsp;&nbsp; JPY<br> 942,950<br>| 6680870 |
| 1.70%, 09/20/33 | &nbsp;&nbsp; JPY<br> 1,262,050<br>| 8926831 |
| 1.80%, 09/20/31 | &nbsp;&nbsp; JPY<br> 535,100<br>| 3793399 |
| 1.80%, 12/20/31 | &nbsp;&nbsp; JPY<br> 390,000<br>| 2769153 |
| 1.80%, 03/20/32 | &nbsp;&nbsp; JPY<br> 600,000<br>| 4264231 |
| 1.80%, 12/20/32 | &nbsp;&nbsp; JPY<br> 490,100<br>| 3492410 |
| 1.90%, 03/20/29 | &nbsp;&nbsp; JPY<br> 430,900<br>| 3001439 |
| 1.90%, 09/20/30 | &nbsp;&nbsp; JPY<br> 183,850<br>| 1300955 |
| 1.90%, 06/20/31 | &nbsp;&nbsp; JPY<br> 330,000<br>| 2349835 |
| 1.90%, 06/20/44 | &nbsp;&nbsp; JPY<br> 526,500<br>| 3546161 |
| 2.00%, 03/20/27 | &nbsp;&nbsp; JPY<br> 203,900<br>| 1391992 |
| 2.00%, 06/20/30 | &nbsp;&nbsp; JPY<br> 60,800<br>| 431431 |
| 2.10%, 12/20/26 | &nbsp;&nbsp; JPY<br> 327,200<br>| 2229690 |
| 2.10%, 03/20/29 | &nbsp;&nbsp; JPY<br> 517,700<br>| 3636943 |
| 2.10%, 06/20/29 | &nbsp;&nbsp; JPY<br> 161,850<br>| 1140105 |
| 2.10%, 09/20/29 | &nbsp;&nbsp; JPY<br> 460,300<br>| 3251012 |
| 2.10%, 03/20/30 | &nbsp;&nbsp; JPY<br> 162,500<br>| 1155845 |
| 2.10%, 12/20/30 | &nbsp;&nbsp; JPY<br> 205,000<br>| 1470099 |
| 2.20%, 03/20/26 | &nbsp;&nbsp; JPY<br> 219,350<br>| 1480035 |
| 2.20%, 03/20/28 | &nbsp;&nbsp; JPY<br> 180,150<br>| 1254288 |
| 2.20%, 03/20/30 | &nbsp;&nbsp; JPY<br> 355,000<br>| 2535372 |
| 2.30%, 06/20/27 | &nbsp;&nbsp; JPY<br> 330,550<br>| 2281577 |
| Japan Government Two Year Bond |  |  |
| 0.00%, 10/01/25 | &nbsp;&nbsp; JPY<br> 678,750<br>| 4456350 |
| 0.10%, 11/01/25 | &nbsp;&nbsp; JPY<br> 710,300<br>| 4665614 |
| 0.30%, 05/01/26 | &nbsp;&nbsp; JPY<br> 1,216,150<br>| 7993128 |
| 0.40%, 07/01/26 | &nbsp;&nbsp; JPY<br> 1,150,000<br>| 7567188 |
| 0.40%, 08/01/26 | &nbsp;&nbsp; JPY<br> 330,850<br>| 2176556 |
| 0.40%, 09/01/26 | &nbsp;&nbsp; JPY<br> 1,533,700<br>| 10090436 |
| 0.40%, 10/01/26 | &nbsp;&nbsp; JPY<br> 1,255,250<br>| 8256197 |
| 0.50%, 11/01/26 | &nbsp;&nbsp; JPY<br> 1,239,600<br>| 8168192 |
|  |  | 761800562 |
| **Kazakhstan — 0.0%** | **Kazakhstan — 0.0%** | **Kazakhstan — 0.0%** |
| Kazakhstan Government International Bond |  |  |
| 0.60%, 09/30/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 309599 |
| 1.50%, 09/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 91744 |
|  |  | 401343 |
| **Latvia — 0.0%** | **Latvia — 0.0%** | **Latvia — 0.0%** |
| Latvia Government International Bond |  |  |
| 0.00%, 01/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,500<br>| 1453179 |
| 1.38%, 09/23/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 106920 |
| 1.88%, 02/19/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 340<br>| 270025 |
| 3.00%, 01/24/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 575<br>| 620917 |
|  |  | 2451041 |
| **Lithuania — 0.0%** | **Lithuania — 0.0%** | **Lithuania — 0.0%** |
| Lithuania Government International Bond |  |  |
| 0.75%, 05/06/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 730<br>| 702741 |
| 0.95%, 05/26/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 418<br>| 433891 |
| 1.63%, 06/19/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 370<br>| 271394 |
| 2.13%, 10/22/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 428<br>| 409980 |
|  |  | 1818006 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| European Financial Stability Facility, 2.88%, <br> 02/13/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 1,000<br>| 1088247 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Luxembourg (continued)** | **Luxembourg (continued)** | **Luxembourg (continued)** |
| State of the Grand-Duchy of Luxembourg |  |  |
| 0.00%, 03/24/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,107<br>| $1021568 |
| 0.00%, 09/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 685<br>| 606760 |
| 0.63%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 663<br>| 692776 |
| 2.25%, 03/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 190<br>| 205332 |
| 3.00%, 03/02/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 533<br>| 592266 |
|  |  | 4206949 |
| **Malaysia — 0.8%** | **Malaysia — 0.8%** | **Malaysia — 0.8%** |
| Malaysia Government Bond |  |  |
| 3.58%, 07/15/32 | &nbsp;&nbsp; MYR<br> 5,000<br>| 1116798 |
| 3.73%, 06/15/28 | &nbsp;&nbsp; MYR<br> 8,000<br>| 1833060 |
| 3.76%, 05/22/40 | &nbsp;&nbsp; MYR<br> 11,200<br>| 2462565 |
| 3.83%, 07/05/34 | &nbsp;&nbsp; MYR<br> 9,380<br>| 2126171 |
| 3.84%, 04/15/33 | &nbsp;&nbsp; MYR<br> 3,000<br>| 680213 |
| 3.89%, 08/15/29 | &nbsp;&nbsp; MYR<br> 13,000<br>| 2996545 |
| 3.90%, 11/30/26 | &nbsp;&nbsp; MYR<br> 1,900<br>| 437960 |
| 3.90%, 11/16/27 | &nbsp;&nbsp; MYR<br> 7,400<br>| 1706812 |
| 3.91%, 07/15/26 | &nbsp;&nbsp; MYR<br> 3,700<br>| 851627 |
| 3.96%, 09/15/25 | &nbsp;&nbsp; MYR<br> 5,620<br>| 1290451 |
| 4.05%, 04/18/39 | &nbsp;&nbsp; MYR<br> 8,000<br>| 1832536 |
| 4.07%, 06/15/50 | &nbsp;&nbsp; MYR<br> 4,000<br>| 892670 |
| 4.18%, 05/16/44 | &nbsp;&nbsp; MYR<br> 2,190<br>| 502835 |
| 4.23%, 06/30/31 | &nbsp;&nbsp; MYR<br> 6,710<br>| 1561718 |
| 4.25%, 05/31/35 | &nbsp;&nbsp; MYR<br> 800<br>| 187634 |
| 4.46%, 03/31/53 | &nbsp;&nbsp; MYR<br> 6,000<br>| 1420343 |
| 4.50%, 04/15/30 | &nbsp;&nbsp; MYR<br> 850<br>| 201231 |
| 4.64%, 11/07/33 | &nbsp;&nbsp; MYR<br> 17,660<br>| 4237703 |
| 4.70%, 10/15/42 | &nbsp;&nbsp; MYR<br> 6,840<br>| 1677414 |
| 4.74%, 03/15/46 | &nbsp;&nbsp; MYR<br> 2,170<br>| 534043 |
| 4.76%, 04/07/37 | &nbsp;&nbsp; MYR<br> 8,495<br>| 2079606 |
| 4.89%, 06/08/38 | &nbsp;&nbsp; MYR<br> 4,240<br>| 1055018 |
| 4.92%, 07/06/48 | &nbsp;&nbsp; MYR<br> 8,440<br>| 2135901 |
| 4.94%, 09/30/43 | &nbsp;&nbsp; MYR<br> 450<br>| 113695 |
| Malaysia Government Investment Issue |  |  |
| 3.42%, 09/30/27 | &nbsp;&nbsp; MYR<br> 4,790<br>| 1090448 |
| 3.47%, 10/15/30 | &nbsp;&nbsp; MYR<br> 4,000<br>| 899555 |
| 3.60%, 07/31/28 | &nbsp;&nbsp; MYR<br> 8,000<br>| 1826461 |
| 3.80%, 10/08/31 | &nbsp;&nbsp; MYR<br> 5,000<br>| 1134553 |
| 3.99%, 10/15/25 | &nbsp;&nbsp; MYR<br> 150<br>| 34467 |
| 4.07%, 09/30/26 | &nbsp;&nbsp; MYR<br> 5,000<br>| 1154945 |
| 4.12%, 11/30/34 | &nbsp;&nbsp; MYR<br> 5,300<br>| 1227661 |
| 4.13%, 07/09/29 | &nbsp;&nbsp; MYR<br> 11,091<br>| 2582460 |
| 4.19%, 10/07/32 | &nbsp;&nbsp; MYR<br> 15,740<br>| 3655829 |
| 4.29%, 08/14/43 | &nbsp;&nbsp; MYR<br> 3,110<br>| 721770 |
| 4.37%, 10/31/28 | &nbsp;&nbsp; MYR<br> 7,080<br>| 1661416 |
| 4.47%, 09/15/39 | &nbsp;&nbsp; MYR<br> 2,930<br>| 702813 |
| 4.58%, 08/30/33 | &nbsp;&nbsp; MYR<br> 1,600<br>| 381944 |
| 4.64%, 11/15/49 | &nbsp;&nbsp; MYR<br> 3,300<br>| 801918 |
| 5.36%, 05/15/52 | &nbsp;&nbsp; MYR<br> 2,000<br>| 538946 |
|  |  | 52349735 |
| **Mexico — 0.6%** | **Mexico — 0.6%** | **Mexico — 0.6%** |
| Mexican Bonos |  |  |
| 5.50%, 03/04/27 | &nbsp;&nbsp; MXN<br> 680<br>| 3087339 |
| 7.50%, 05/26/33 | &nbsp;&nbsp; MXN<br> 750<br>| 3199250 |
| 8.00%, 07/31/53 | &nbsp;&nbsp; MXN<br> 18,267<br>| 717140 |
| 8.50%, 03/01/29 | &nbsp;&nbsp; MXN<br> 500<br>| 2372841 |
| Series M, 5.75%, 03/05/26 | &nbsp;&nbsp; MXN<br> 776<br>| 3667874 |
| Series M, 7.75%, 05/29/31 | &nbsp;&nbsp; MXN<br> 920<br>| 4122293 |
| Series M, 7.75%, 11/23/34 | &nbsp;&nbsp; MXN<br> 320<br>| 3499738 |
| Series M, 7.75%, 11/13/42 | &nbsp;&nbsp; MXN<br> 926<br>| 3652506 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mexico (continued)** | **Mexico (continued)** | **Mexico (continued)** |
| Series M, 8.00%, 11/07/47 | &nbsp;&nbsp; MXN<br> 557<br>| $2211402 |
| Series M 20, 7.50%, 06/03/27 | &nbsp;&nbsp; MXN<br> 742<br>| 3510528 |
| Series M 20, 8.50%, 05/31/29 | &nbsp;&nbsp; MXN<br> 641<br>| 3038778 |
| Series M 30, 8.50%, 11/18/38 | &nbsp;&nbsp; MXN<br> 468<br>| 2045347 |
| Series M 30, 10.00%, 11/20/36 | &nbsp;&nbsp; MXN<br> 220<br>| 1094124 |
| Mexico Bonos, 8.00%, 05/24/35 | &nbsp;&nbsp; MXN<br> 280<br>| 1218553 |
| Mexico Government International Bond |  |  |
| 1.13%, 01/17/30 | &nbsp;&nbsp; EUR<br> 300<br>| 281519 |
| 1.35%, 09/18/27 | &nbsp;&nbsp; EUR<br> 400<br>| 412124 |
| 1.45%, 10/25/33 | &nbsp;&nbsp; EUR<br> 900<br>| 754775 |
| 1.75%, 04/17/28 | &nbsp;&nbsp; EUR<br> 500<br>| 515372 |
| 2.13%, 10/25/51 | &nbsp;&nbsp; EUR<br> 400<br>| 249961 |
| 2.25%, 08/12/36 | &nbsp;&nbsp; EUR<br> 200<br>| 169165 |
| 2.38%, 02/11/30 | &nbsp;&nbsp; EUR<br> 200<br>| 200162 |
| 2.88%, 04/08/39 | &nbsp;&nbsp; EUR<br> 300<br>| 258111 |
| 3.00%, 03/06/45 | &nbsp;&nbsp; EUR<br> 200<br>| 160480 |
| 4.49%, 05/25/32 | &nbsp;&nbsp; EUR<br> 843<br>| 919881 |
| 5.63%, 03/19/2114 | &nbsp;&nbsp; GBP<br> 100<br>| 94790 |
|  |  | 41454053 |
| **Netherlands — 1.1%** | **Netherlands — 1.1%** | **Netherlands — 1.1%** |
| BNG Bank NV |  |  |
| 2.75%, 01/11/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 290<br>| 313775 |
| 3.25%, 08/29/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1129539 |
| 4.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 510616 |
| Nederlandse Waterschapsbank NV |  |  |
| 0.00%, 11/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 207234 |
| 0.00%, 02/16/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 456650 |
| 0.25%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 367959 |
| 0.38%, 09/28/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 186278 |
| 0.63%, 01/18/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1046190 |
| 0.75%, 10/04/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 298647 |
| 1.50%, 04/27/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 280<br>| 255749 |
| 2.63%, 01/10/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1073080 |
| Netherlands Government Bond |  |  |
| 0.00%, 01/15/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,594<br>| 2743705 |
| 0.00%, 01/15/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,060<br>| 3167915 |
| 0.00%, 01/15/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,215<br>| 3168135 |
| 0.00%, 07/15/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,737<br>| 3541213 |
| 0.00%, 07/15/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,484<br>| 2291195 |
| 0.00%, 01/15/38<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,226<br>| 3190723 |
| 0.00%, 01/15/52<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,571<br>| 1881159 |
| 0.25%, 07/15/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,620<br>| 2580816 |
| 0.50%, 07/15/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,479<br>| 4727113 |
| 0.50%, 07/15/32<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,690<br>| 2513952 |
| 0.50%, 01/15/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,640<br>| 2843473 |
| 0.75%, 07/15/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,114<br>| 5337916 |
| 0.75%, 07/15/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,593<br>| 3688899 |
| 2.00%, 01/15/54<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,560<br>| 2362781 |
| 2.50%, 01/15/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,770<br>| 3021687 |
| 2.50%, 01/15/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,008<br>| 4341421 |
| 2.50%, 07/15/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 739<br>| 797942 |
| 2.50%, 07/15/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,930<br>| 3148176 |
| 2.75%, 01/15/47<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,550<br>| 3843304 |
| 3.25%, 01/15/44<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,110<br>| 2442378 |
| 3.75%, 01/15/42<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,566<br>| 5590765 |
| 4.00%, 01/15/37<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,143<br>| 2630946 |
| 5.50%, 01/15/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 670<br>| 799158 |
|  |  | 76500489 |
| **New Zealand — 0.4%** | **New Zealand — 0.4%** | **New Zealand — 0.4%** |
| Auckland Council, 0.25%, 11/17/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 363496 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **New Zealand (continued)** | **New Zealand (continued)** | **New Zealand (continued)** |
| Housing New Zealand Ltd., 3.42%, 10/18/28<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 500<br>| $290782 |
| New Zealand Government Bond |  |  |
| 0.25%, 05/15/28 | &nbsp;&nbsp; NZD<br> 2,125<br>| 1119986 |
| 0.50%, 05/15/26 | &nbsp;&nbsp; NZD<br> 1,425<br>| 809868 |
| 1.50%, 05/15/31 | &nbsp;&nbsp; NZD<br> 1,862<br>| 940638 |
| 1.75%, 05/15/41 | &nbsp;&nbsp; NZD<br> 1,530<br>| 590572 |
| 2.00%, 05/15/32 | &nbsp;&nbsp; NZD<br> 3,279<br>| 1667449 |
| 2.75%, 04/15/37<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 2,530<br>| 1232712 |
| 2.75%, 05/15/51 | &nbsp;&nbsp; NZD<br> 750<br>| 300608 |
| 3.00%, 04/20/29 | &nbsp;&nbsp; NZD<br> 3,532<br>| 2026387 |
| 3.50%, 04/14/33<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 1,699<br>| 949703 |
| 4.25%, 05/15/34 | &nbsp;&nbsp; NZD<br> 2,430<br>| 1425153 |
| 4.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 5,557<br>| 3375044 |
| 4.50%, 05/15/30 | &nbsp;&nbsp; NZD<br> 4,710<br>| 2868486 |
| 4.50%, 05/15/35 | &nbsp;&nbsp; NZD<br> 2,400<br>| 1424881 |
| 5.00%, 05/15/54 | &nbsp;&nbsp; NZD<br> 1,400<br>| 833455 |
| New Zealand Local Government Funding <br> Agency Bond<br>|  |  |
| 1.50%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 200<br>| 115429 |
| 1.50%, 04/20/29<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 2,345<br>| 1240403 |
| 2.25%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 1,000<br>| 516745 |
| 3.50%, 04/14/33 | &nbsp;&nbsp; NZD<br> 200<br>| 107728 |
| 4.40%, 09/08/27 | &nbsp;&nbsp; AUD<br> 1,200<br>| 786727 |
| 4.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 600<br>| 358140 |
| 5.00%, 03/08/34 | &nbsp;&nbsp; AUD<br> 1,150<br>| 740558 |
|  |  | 24084950 |
| **Niger — 0.0%** | **Niger — 0.0%** | **Niger — 0.0%** |
| Nederlandse Waterschapsbank NV, 2.50%, <br> 09/13/27<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 1,000<br>| 1087421 |
| **Norway — 0.1%** | **Norway — 0.1%** | **Norway — 0.1%** |
| Kommunalbanken AS |  |  |
| 0.05%, 10/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 288022 |
| 0.60%, 06/01/26 | &nbsp;&nbsp; AUD<br> 286<br>| 177010 |
| 4.25%, 07/16/25 | &nbsp;&nbsp; AUD<br> 150<br>| 98458 |
| 4.40%, 02/17/26 | &nbsp;&nbsp; AUD<br> 200<br>| 131278 |
| Norway Government Bond |  |  |
| 1.25%, 09/17/31<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 14,929<br>| 1151796 |
| 1.38%, 08/19/30<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 17,688<br>| 1409688 |
| 1.50%, 02/19/26<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 9,892<br>| 870075 |
| 1.75%, 03/13/25<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 5,300<br>| 477175 |
| 1.75%, 02/17/27<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 8,007<br>| 693784 |
| 1.75%, 09/06/29<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 7,378<br>| 610781 |
| 2.00%, 04/26/28<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 8,820<br>| 754745 |
| 2.13%, 05/18/32<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 13,621<br>| 1104267 |
| 3.00%, 08/15/33<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 11,500<br>| 982039 |
| 3.50%, 10/06/42<sup>(a)(e)</sup> | &nbsp;&nbsp; NOK<br> 2,550<br>| 223121 |
| 3.63%, 04/13/34<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 5,000<br>| 447081 |
| 3.63%, 05/31/39<sup>(e)</sup> | &nbsp;&nbsp; NOK<br> 5,700<br>| 507654 |
|  |  | 9926974 |
| **Peru — 0.1%** | **Peru — 0.1%** | **Peru — 0.1%** |
| Peru Government Bond |  |  |
| 5.35%, 08/12/40 | &nbsp;&nbsp; PEN<br> 7<br>| 1478794 |
| 5.40%, 08/12/34 | &nbsp;&nbsp; PEN<br> 4<br>| 939039 |
| 5.94%, 02/12/29 | &nbsp;&nbsp; PEN<br> 5<br>| 1280256 |
| 6.15%, 08/12/32 | &nbsp;&nbsp; PEN<br> 4<br>| 1116268 |
| 6.35%, 08/12/28 | &nbsp;&nbsp; PEN<br> 3<br>| 794030 |
| 7.30%, 08/12/33<sup>(a)(e)</sup> | &nbsp;&nbsp; PEN<br> 5<br>| 1503063 |
| 7.60%, 08/12/39<sup>(e)</sup> | &nbsp;&nbsp; PEN<br> 3<br>| 713862 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Peru (continued)** | **Peru (continued)** | **Peru (continued)** |
| Peruvian Government International Bond |  |  |
| 1.95%, 11/17/36 | &nbsp;&nbsp; EUR<br> 200<br>| $172635 |
| 3.75%, 03/01/30 | &nbsp;&nbsp; EUR<br> 200<br>| 218686 |
|  |  | 8216633 |
| **Philippines — 0.0%** | **Philippines — 0.0%** | **Philippines — 0.0%** |
| Philippine Government International Bond |  |  |
| 0.70%, 02/03/29 | &nbsp;&nbsp; EUR<br> 100<br>| 97218 |
| 0.88%, 05/17/27 | &nbsp;&nbsp; EUR<br> 200<br>| 204497 |
| 1.20%, 04/28/33 | &nbsp;&nbsp; EUR<br> 100<br>| 90326 |
| 1.75%, 04/28/41 | &nbsp;&nbsp; EUR<br> 100<br>| 78783 |
|  |  | 470824 |
| **Poland — 0.5%** | **Poland — 0.5%** | **Poland — 0.5%** |
| Bank Gospodarstwa Krajowego |  |  |
| 0.50%, 07/08/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 269777 |
| 1.63%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 103581 |
| 3.88%, 03/13/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 325063 |
| 4.00%, 09/08/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 222202 |
| 4.00%, 03/13/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 223141 |
| 4.38%, 03/13/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 554049 |
| 5.13%, 02/22/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 119770 |
| Republic of Poland Government Bond |  |  |
| 0.25%, 10/25/26 | &nbsp;&nbsp; PLN<br> 13,597<br>| 3097946 |
| 0.75%, 04/25/25 | &nbsp;&nbsp; PLN<br> 4,000<br>| 985320 |
| 1.25%, 10/25/30 | &nbsp;&nbsp; PLN<br> 34,781<br>| 6775253 |
| 1.75%, 04/25/32 | &nbsp;&nbsp; PLN<br> 10,518<br>| 1995070 |
| 2.50%, 07/25/26 | &nbsp;&nbsp; PLN<br> 10,390<br>| 2489730 |
| 2.50%, 07/25/27 | &nbsp;&nbsp; PLN<br> 5,088<br>| 1187978 |
| 2.75%, 04/25/28 | &nbsp;&nbsp; PLN<br> 13,800<br>| 3169209 |
| 2.75%, 10/25/29 | &nbsp;&nbsp; PLN<br> 8,780<br>| 1929526 |
| 3.75%, 05/25/27 | &nbsp;&nbsp; PLN<br> 2,131<br>| 515132 |
| 4.00%, 04/25/47 | &nbsp;&nbsp; PLN<br> 2,250<br>| 421919 |
| 4.75%, 07/25/29 | &nbsp;&nbsp; PLN<br> 3,290<br>| 792837 |
| 5.00%, 10/25/34 | &nbsp;&nbsp; PLN<br> 2,060<br>| 478669 |
| 6.00%, 10/25/33 | &nbsp;&nbsp; PLN<br> 10,000<br>| 2514874 |
| 7.50%, 07/25/28 | &nbsp;&nbsp; PLN<br> 5,140<br>| 1372557 |
| Republic of Poland Government <br> International Bond<br>|  |  |
| 0.88%, 05/10/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 364538 |
| 1.00%, 10/25/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 550<br>| 564638 |
| 1.00%, 03/07/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 405568 |
| 1.50%, 01/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 267485 |
| 2.00%, 03/08/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 196935 |
| 2.75%, 05/25/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 472605 |
| 3.13%, 10/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1084084 |
| 3.63%, 11/29/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 844435 |
| 3.88%, 10/22/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 430227 |
| 4.13%, 01/11/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 480<br>| 532316 |
| 4.25%, 02/14/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 505300 |
|  |  | 35211734 |
| **Portugal — 0.5%** | **Portugal — 0.5%** | **Portugal — 0.5%** |
| Portugal Obrigacoes do Tesouro OT |  |  |
| 0.30%, 10/17/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,229<br>| 2096959 |
| 0.48%, 10/18/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,799<br>| 1754151 |
| 0.70%, 10/15/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,307<br>| 2406036 |
| 0.90%, 10/12/35<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,346<br>| 1200401 |
| 1.00%, 04/12/52<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,095<br>| 718095 |
| 1.15%, 04/11/42<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,550<br>| 1241670 |
| 1.65%, 07/16/32<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,420<br>| 2469273 |
| 1.95%, 06/15/29<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,417<br>| 2587289 |
| 2.13%, 10/17/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,784<br>| 3017886 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Portugal (continued)** | **Portugal (continued)** | **Portugal (continued)** |
| 2.25%, 04/18/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 260<br>| $271930 |
| 2.88%, 10/15/25<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,752<br>| 3004355 |
| 2.88%, 07/21/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 529<br>| 581676 |
| 2.88%, 10/20/34<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,260<br>| 2476952 |
| 3.50%, 06/18/38<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 941<br>| 1077461 |
| 3.63%, 06/12/54<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 1,150<br>| 1312738 |
| 3.88%, 02/15/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,339<br>| 1565086 |
| 4.10%, 04/15/37<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,827<br>| 2233133 |
| 4.10%, 02/15/45<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,606<br>| 1986337 |
| 4.13%, 04/14/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,600<br>| 1821875 |
|  |  | 33823303 |
| **Romania — 0.3%** | **Romania — 0.3%** | **Romania — 0.3%** |
| Romania Government Bond |  |  |
| 3.65%, 09/24/31 | &nbsp;&nbsp; RON<br> 3,500<br>| 633860 |
| 4.15%, 01/26/28 | &nbsp;&nbsp; RON<br> 5,755<br>| 1177663 |
| 4.15%, 10/24/30 | &nbsp;&nbsp; RON<br> 4,735<br>| 905745 |
| 4.25%, 04/28/36 | &nbsp;&nbsp; RON<br> 4,000<br>| 692000 |
| 4.75%, 10/11/34 | &nbsp;&nbsp; RON<br> 2,120<br>| 392524 |
| 4.85%, 04/22/26 | &nbsp;&nbsp; RON<br> 10,810<br>| 2321959 |
| 4.85%, 07/25/29 | &nbsp;&nbsp; RON<br> 13,630<br>| 2763467 |
| 5.00%, 02/12/29 | &nbsp;&nbsp; RON<br> 5,865<br>| 1208926 |
| 6.70%, 02/25/32 | &nbsp;&nbsp; RON<br> 5,000<br>| 1078046 |
| 7.10%, 07/31/34 | &nbsp;&nbsp; RON<br> 3,860<br>| 852117 |
| 7.20%, 10/30/33 | &nbsp;&nbsp; RON<br> 2,000<br>| 444285 |
| 7.90%, 02/24/38 | &nbsp;&nbsp; RON<br> 2,500<br>| 589591 |
| 8.25%, 09/29/32 | &nbsp;&nbsp; RON<br> 1,000<br>| 235480 |
| Romania Government International Bond |  |  |
| 1.38%, 12/02/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 93544 |
| 1.75%, 07/13/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 462406 |
| 2.00%, 12/08/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 211057 |
| 2.00%, 01/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 221184 |
| 2.00%, 04/14/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 252457 |
| 2.12%, 07/16/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 227068 |
| 2.13%, 03/07/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 204335 |
| 2.38%, 04/19/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 492<br>| 519191 |
| 2.50%, 02/08/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 196529 |
| 2.63%, 12/02/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 247780 |
| 2.75%, 04/14/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 179331 |
| 2.88%, 05/26/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 294<br>| 307423 |
| 2.88%, 03/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 397<br>| 408125 |
| 2.88%, 04/13/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 214485 |
| 3.38%, 02/08/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 376031 |
| 3.38%, 01/28/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 435<br>| 315176 |
| 3.50%, 04/03/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 186607 |
| 3.62%, 05/26/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 516099 |
| 3.75%, 02/07/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 189861 |
| 4.63%, 04/03/49<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 286909 |
| 5.00%, 09/27/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 446942 |
| 5.50%, 09/18/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 567547 |
| 6.38%, 09/18/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 576178 |
| 6.63%, 09/27/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 592889 |
| Romanian Government International Bond |  |  |
| 5.13%, 09/24/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 541595 |
| 5.25%, 05/30/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 435<br>| 472046 |
| 5.38%, 03/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 534<br>| 588199 |
| 5.63%, 02/22/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 372368 |
| 5.63%, 05/30/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 423135 |
|  |  | 23492160 |
| **Samoa — 0.0%** | **Samoa — 0.0%** | **Samoa — 0.0%** |
| State of Lower Austria, 3.13%, 10/30/36 | &nbsp;&nbsp; EUR<br> 300<br>| 328433 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** |
| Saudi Government International Bond |  |  |
| 0.63%, 03/03/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $190194 |
| 2.00%, 07/09/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 293862 |
|  |  | 484056 |
| **Senegal — 0.5%** | **Senegal — 0.5%** | **Senegal — 0.5%** |
| Corp. Andina de Fomento, 3.63%, 02/13/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1107165 |
| European Financial Stability Facility, 2.88%, <br> 05/28/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 1,249<br>| 1370238 |
| European Investment Bank |  |  |
| 0.88%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 122053 |
| 2.88%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,536<br>| 1694759 |
| Series EARN, 0.38%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 410460 |
| Series EARN, 2.25%, 12/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,400<br>| 2566846 |
| European Stability Mechanism |  |  |
| 2.63%, 09/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 654255 |
| 2.75%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,055<br>| 1138788 |
| European Union |  |  |
| 2.88%, 12/06/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1208971 |
| 2.88%, 10/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,893<br>| 2077793 |
| 3.00%, 12/04/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,000<br>| 4359280 |
| 3.13%, 12/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 7,000<br>| 7761889 |
| 3.25%, 02/04/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,970<br>| 3194750 |
| 3.38%, 10/04/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,900<br>| 4317901 |
| 3.38%, 10/05/54<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,820<br>| 1970059 |
| International Bank for Reconstruction & <br> Development<br>|  |  |
| 0.70%, 10/22/46 | &nbsp;&nbsp; EUR<br> 400<br>| 278284 |
| 3.88%, 10/02/28 | &nbsp;&nbsp; GBP<br> 300<br>| 379358 |
| 4.25%, 09/18/30 | &nbsp;&nbsp; CAD<br> 200<br>| 150621 |
| 4.30%, 01/10/29 | &nbsp;&nbsp; AUD<br> 400<br>| 261281 |
| Series GDIF, 0.00%, 04/24/28 | &nbsp;&nbsp; EUR<br> 50<br>| 49981 |
|  |  | 35074732 |
| **Singapore — 0.4%** | **Singapore — 0.4%** | **Singapore — 0.4%** |
| Singapore Government Bond |  |  |
| 0.50%, 11/01/25 | &nbsp;&nbsp; SGD<br> 1,607<br>| 1190799 |
| 1.25%, 11/01/26 | &nbsp;&nbsp; SGD<br> 1,574<br>| 1158960 |
| 1.63%, 07/01/31 | &nbsp;&nbsp; SGD<br> 1,902<br>| 1340115 |
| 1.88%, 03/01/50 | &nbsp;&nbsp; SGD<br> 2,100<br>| 1336888 |
| 1.88%, 10/01/51 | &nbsp;&nbsp; SGD<br> 1,122<br>| 711080 |
| 2.13%, 06/01/26 | &nbsp;&nbsp; SGD<br> 2,530<br>| 1899081 |
| 2.25%, 08/01/36 | &nbsp;&nbsp; SGD<br> 1,970<br>| 1404696 |
| 2.38%, 06/01/25 | &nbsp;&nbsp; SGD<br> 2,542<br>| 1919535 |
| 2.38%, 07/01/39 | &nbsp;&nbsp; SGD<br> 1,710<br>| 1219156 |
| 2.63%, 05/01/28 | &nbsp;&nbsp; SGD<br> 1,135<br>| 858713 |
| 2.63%, 08/01/32 | &nbsp;&nbsp; SGD<br> 2,068<br>| 1545714 |
| 2.75%, 04/01/42 | &nbsp;&nbsp; SGD<br> 1,502<br>| 1121010 |
| 2.75%, 03/01/46 | &nbsp;&nbsp; SGD<br> 1,912<br>| 1433602 |
| 2.88%, 08/01/28 | &nbsp;&nbsp; SGD<br> 2,000<br>| 1525776 |
| 2.88%, 07/01/29 | &nbsp;&nbsp; SGD<br> 1,370<br>| 1045375 |
| 2.88%, 09/01/30 | &nbsp;&nbsp; SGD<br> 2,421<br>| 1847629 |
| 3.00%, 04/01/29 | &nbsp;&nbsp; SGD<br> 1,760<br>| 1351222 |
| 3.00%, 08/01/72<sup>(a)</sup> | &nbsp;&nbsp; SGD<br> 1,083<br>| 878768 |
| 3.25%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; SGD<br> 830<br>| 696654 |
| 3.38%, 09/01/33 | &nbsp;&nbsp; SGD<br> 1,330<br>| 1050636 |
| 3.38%, 05/01/34 | &nbsp;&nbsp; SGD<br> 1,900<br>| 1504731 |
| 3.50%, 03/01/27 | &nbsp;&nbsp; SGD<br> 1,230<br>| 948060 |
|  |  | 27988200 |
| **Slovakia — 0.2%** | **Slovakia — 0.2%** | **Slovakia — 0.2%** |
| Slovakia Government Bond |  |  |
| 0.13%, 06/17/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,430<br>| 1457138 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Slovakia (continued)** | **Slovakia (continued)** | **Slovakia (continued)** |
| 0.75%, 04/09/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,139<br>| $1106828 |
| 1.00%, 05/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,580<br>| 1485817 |
| 1.38%, 01/21/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,034<br>| 1093833 |
| 1.63%, 01/21/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 802<br>| 802614 |
| 1.88%, 03/09/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 925<br>| 828799 |
| 2.00%, 10/17/47<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 279667 |
| 2.25%, 06/12/68<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 370<br>| 281337 |
| 3.63%, 01/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,205<br>| 1354898 |
| 3.63%, 06/08/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 810<br>| 902023 |
| 3.75%, 02/23/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,010<br>| 1121195 |
| 4.00%, 02/23/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 675141 |
| 4.35%, 10/14/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,245<br>| 1373563 |
|  |  | 12762853 |
| **Slovenia — 0.1%** | **Slovenia — 0.1%** | **Slovenia — 0.1%** |
| Slovenia Government Bond |  |  |
| 0.49%, 10/20/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 603<br>| 329482 |
| 0.88%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 887268 |
| 1.00%, 03/06/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,740<br>| 1806492 |
| 1.18%, 02/13/62<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 530<br>| 325567 |
| 1.19%, 03/14/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,240<br>| 1276282 |
| 1.25%, 03/22/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 724<br>| 767496 |
| 1.75%, 11/03/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 123<br>| 107592 |
| 2.25%, 03/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,320<br>| 1372882 |
| 3.13%, 08/07/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 451<br>| 469575 |
|  |  | 7342636 |
| **Somalia — 0.1%** | **Somalia — 0.1%** | **Somalia — 0.1%** |
| Slovakia Government Bond, 3.00%, 02/07/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,320<br>| 4715694 |
| **South Korea — 2.3%** | **South Korea — 2.3%** | **South Korea — 2.3%** |
| Export-Import Bank of Korea, 3.63%, 09/18/27 | &nbsp;&nbsp; EUR<br> 550<br>| 610333 |
| Korea Development Bank (The) |  |  |
| 2.63%, 09/08/27 | &nbsp;&nbsp; EUR<br> 200<br>| 216090 |
| 3.38%, 05/23/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 551361 |
| Korea Housing Finance Corp. |  |  |
| 0.00%, 06/29/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 416486 |
| 0.72%, 03/22/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 161708 |
| 3.12%, 03/18/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 220513 |
| 3.71%, 04/11/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 333594 |
| Korea Treasury Bond |  |  |
| 1.13%, 09/10/25 | &nbsp;&nbsp; KRW<br> 2,799,720<br>| 1999495 |
| 1.13%, 09/10/39 | &nbsp;&nbsp; KRW<br> 2,004,990<br>| 1119501 |
| 1.25%, 03/10/26 | &nbsp;&nbsp; KRW<br> 1,862,790<br>| 1319106 |
| 1.38%, 12/10/29 | &nbsp;&nbsp; KRW<br> 4,265,550<br>| 2847687 |
| 1.38%, 06/10/30 | &nbsp;&nbsp; KRW<br> 5,410,230<br>| 3575637 |
| 1.50%, 12/10/26 | &nbsp;&nbsp; KRW<br> 2,600,000<br>| 1826957 |
| 1.50%, 12/10/30 | &nbsp;&nbsp; KRW<br> 4,523,980<br>| 2985694 |
| 1.50%, 09/10/36 | &nbsp;&nbsp; KRW<br> 1,467,540<br>| 895123 |
| 1.50%, 09/10/40 | &nbsp;&nbsp; KRW<br> 2,859,010<br>| 1672658 |
| 1.50%, 03/10/50 | &nbsp;&nbsp; KRW<br> 10,552,750<br>| 5735066 |
| 1.63%, 09/10/70 | &nbsp;&nbsp; KRW<br> 1,784,450<br>| 888036 |
| 1.75%, 09/10/26 | &nbsp;&nbsp; KRW<br> 1,000,000<br>| 708727 |
| 1.88%, 12/10/24 | &nbsp;&nbsp; KRW<br> 590,790<br>| 427605 |
| 1.88%, 06/10/26 | &nbsp;&nbsp; KRW<br> 1,732,660<br>| 1233631 |
| 1.88%, 06/10/29 | &nbsp;&nbsp; KRW<br> 4,113,770<br>| 2831019 |
| 1.88%, 09/10/41 | &nbsp;&nbsp; KRW<br> 1,997,200<br>| 1230925 |
| 1.88%, 03/10/51 | &nbsp;&nbsp; KRW<br> 12,673,310<br>| 7436473 |
| 2.00%, 06/10/31 | &nbsp;&nbsp; KRW<br> 4,516,410<br>| 3057185 |
| 2.00%, 03/10/46 | &nbsp;&nbsp; KRW<br> 4,740,950<br>| 2880053 |
| 2.00%, 03/10/49 | &nbsp;&nbsp; KRW<br> 5,054,630<br>| 3045554 |
| 2.00%, 09/10/68 | &nbsp;&nbsp; KRW<br> 954,650<br>| 541988 |
| 2.13%, 06/10/27 | &nbsp;&nbsp; KRW<br> 1,260,640<br>| 893639 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| 2.13%, 03/10/47 | &nbsp;&nbsp; KRW<br> 3,332,420<br>| $2071373 |
| 2.25%, 06/10/25 | &nbsp;&nbsp; KRW<br> 1,996,790<br>| 1440874 |
| 2.25%, 12/10/25 | &nbsp;&nbsp; KRW<br> 7,071,730<br>| 5085959 |
| 2.25%, 09/10/37 | &nbsp;&nbsp; KRW<br> 1,131,500<br>| 747177 |
| 2.38%, 03/10/27 | &nbsp;&nbsp; KRW<br> 3,190,460<br>| 2279931 |
| 2.38%, 12/10/27 | &nbsp;&nbsp; KRW<br> 2,300,000<br>| 1636040 |
| 2.38%, 12/10/28 | &nbsp;&nbsp; KRW<br> 1,000,000<br>| 705947 |
| 2.38%, 12/10/31 | &nbsp;&nbsp; KRW<br> 3,013,140<br>| 2080404 |
| 2.38%, 09/10/38 | &nbsp;&nbsp; KRW<br> 1,812,330<br>| 1208686 |
| 2.50%, 03/10/52 | &nbsp;&nbsp; KRW<br> 4,371,920<br>| 2893268 |
| 2.63%, 06/10/28 | &nbsp;&nbsp; KRW<br> 1,170,670<br>| 837098 |
| 2.63%, 09/10/35 | &nbsp;&nbsp; KRW<br> 1,628,800<br>| 1128313 |
| 2.63%, 03/10/48 | &nbsp;&nbsp; KRW<br> 3,773,110<br>| 2566036 |
| 2.75%, 12/10/44 | &nbsp;&nbsp; KRW<br> 1,752,210<br>| 1215460 |
| 2.75%, 09/10/54 | &nbsp;&nbsp; KRW<br> 693,370<br>| 485022 |
| 3.00%, 12/10/42 | &nbsp;&nbsp; KRW<br> 3,280,000<br>| 2365575 |
| 3.13%, 06/10/25 | &nbsp;&nbsp; KRW<br> 4,341,990<br>| 3148902 |
| 3.13%, 06/10/26 | &nbsp;&nbsp; KRW<br> 3,108,130<br>| 2257114 |
| 3.13%, 09/10/27 | &nbsp;&nbsp; KRW<br> 6,000,000<br>| 4364492 |
| 3.13%, 09/10/52 | &nbsp;&nbsp; KRW<br> 3,918,600<br>| 2938697 |
| 3.25%, 03/10/28 | &nbsp;&nbsp; KRW<br> 11,100,000<br>| 8109071 |
| 3.25%, 03/10/29 | &nbsp;&nbsp; KRW<br> 3,000,000<br>| 2193397 |
| 3.25%, 06/10/33 | &nbsp;&nbsp; KRW<br> 5,500,000<br>| 4024855 |
| 3.25%, 09/10/42 | &nbsp;&nbsp; KRW<br> 2,019,610<br>| 1500041 |
| 3.25%, 03/10/53 | &nbsp;&nbsp; KRW<br> 7,447,820<br>| 5707123 |
| 3.25%, 03/10/54 | &nbsp;&nbsp; KRW<br> 5,497,310<br>| 4222710 |
| 3.38%, 06/10/32 | &nbsp;&nbsp; KRW<br> 5,304,790<br>| 3909250 |
| 3.50%, 09/10/28 | &nbsp;&nbsp; KRW<br> 4,000,000<br>| 2948452 |
| 3.50%, 06/10/34 | &nbsp;&nbsp; KRW<br> 3,700,000<br>| 2770594 |
| 3.50%, 09/10/72 | &nbsp;&nbsp; KRW<br> 2,000,000<br>| 1702022 |
| 3.63%, 09/10/53 | &nbsp;&nbsp; KRW<br> 3,890,020<br>| 3171078 |
| 3.75%, 12/10/33 | &nbsp;&nbsp; KRW<br> 1,500,000<br>| 1140330 |
| 3.88%, 12/10/26 | &nbsp;&nbsp; KRW<br> 14,485,200<br>| 10689155 |
| 3.88%, 09/10/43 | &nbsp;&nbsp; KRW<br> 2,744,010<br>| 2229685 |
| 4.00%, 12/10/31 | &nbsp;&nbsp; KRW<br> 1,750,000<br>| 1339978 |
| 4.13%, 12/10/33 | &nbsp;&nbsp; KRW<br> 4,000,000<br>| 3128225 |
| 4.25%, 12/10/25 | &nbsp;&nbsp; KRW<br> 6,289,670<br>| 4622459 |
| 4.25%, 12/10/32 | &nbsp;&nbsp; KRW<br> 3,500,000<br>| 2740338 |
| 4.75%, 12/10/30 | &nbsp;&nbsp; KRW<br> 160,000<br>| 126263 |
| 5.25%, 03/10/27 | &nbsp;&nbsp; KRW<br> 100,000<br>| 76161 |
| 5.50%, 12/10/29 | &nbsp;&nbsp; KRW<br> 150,000<br>| 121083 |
|  |  | 159590482 |
| **Spain — 3.6%** | **Spain — 3.6%** | **Spain — 3.6%** |
| Adif Alta Velocidad |  |  |
| 0.55%, 10/31/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 453433 |
| 1.88%, 01/28/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 325235 |
| 3.25%, 05/31/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 546564 |
| 3.65%, 04/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 330349 |
| Autonomous Community of Andalusia Spain |  |  |
| 0.50%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 184669 |
| 1.88%, 10/31/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 209296 |
| 2.40%, 04/30/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 206247 |
| 3.40%, 04/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 548464 |
| Autonomous Community of Catalonia, 4.22%, <br> 04/26/35<br>| &nbsp;&nbsp; EUR<br> 200<br>| 222796 |
| Autonomous Community of Madrid Spain |  |  |
| 0.42%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 530<br>| 504133 |
| 0.42%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 92465 |
| 0.83%, 07/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 620749 |
| 1.57%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 360697 |
| 1.77%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 235<br>| 247171 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| 1.83%, 04/30/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| $270289 |
| 2.82%, 10/31/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 217017 |
| 3.46%, 04/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 980<br>| 1089533 |
| 4.30%, 09/15/26 | &nbsp;&nbsp; EUR<br> 250<br>| 279700 |
| Basque Government |  |  |
| 0.25%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 91876 |
| 0.45%, 04/30/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 90463 |
| 1.45%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 208451 |
| 1.88%, 07/30/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 98555 |
| 3.40%, 04/30/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 110982 |
| Instituto de Credito Oficial |  |  |
| 2.65%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 542573 |
| 3.80%, 05/31/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 566642 |
| Spain Government Bond |  |  |
| 0.00%, 01/31/26 | &nbsp;&nbsp; EUR<br> 5,918<br>| 6239134 |
| 0.00%, 01/31/27 | &nbsp;&nbsp; EUR<br> 1,353<br>| 1391729 |
| 0.00%, 01/31/28 | &nbsp;&nbsp; EUR<br> 6,567<br>| 6579043 |
| 0.10%, 04/30/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,019<br>| 4604474 |
| 0.50%, 04/30/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,760<br>| 3637505 |
| 0.50%, 10/31/31<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,045<br>| 5623387 |
| 0.60%, 10/31/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,595<br>| 5504474 |
| 0.70%, 04/30/32<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,620<br>| 3373750 |
| 0.80%, 07/30/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 7,571<br>| 7861479 |
| 0.80%, 07/30/29 | &nbsp;&nbsp; EUR<br> 6,831<br>| 6818287 |
| 0.85%, 07/30/37<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,877<br>| 2338313 |
| 1.00%, 07/30/42<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,053<br>| 2241878 |
| 1.00%, 10/31/50<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,700<br>| 2897277 |
| 1.20%, 10/31/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,454<br>| 4300384 |
| 1.25%, 10/31/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,860<br>| 4852832 |
| 1.30%, 10/31/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,583<br>| 5935800 |
| 1.40%, 04/30/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 6,190<br>| 6474930 |
| 1.40%, 07/30/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,835<br>| 5041683 |
| 1.45%, 10/31/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,839<br>| 4046266 |
| 1.45%, 04/30/29<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,769<br>| 4930589 |
| 1.45%, 10/31/71<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 2,076<br>| 1148979 |
| 1.50%, 04/30/27<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,895<br>| 5196731 |
| 1.85%, 07/30/35<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,933<br>| 3783838 |
| 1.90%, 10/31/52<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,643<br>| 2758425 |
| 1.95%, 04/30/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,379<br>| 5808614 |
| 1.95%, 07/30/30<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,847<br>| 5060747 |
| 2.35%, 07/30/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,315<br>| 3437361 |
| 2.55%, 10/31/32<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,000<br>| 5303993 |
| 2.70%, 10/31/48<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,959<br>| 3692238 |
| 2.80%, 05/31/26 | &nbsp;&nbsp; EUR<br> 10,710<br>| 11693020 |
| 2.90%, 10/31/46<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,290<br>| 4198721 |
| 3.15%, 04/30/33<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 5,460<br>| 6025815 |
| 3.25%, 04/30/34<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 6,150<br>| 6798075 |
| 3.45%, 10/31/34<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,330<br>| 3732330 |
| 3.45%, 07/30/43<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 2,458<br>| 2629627 |
| 3.45%, 07/30/66<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,236<br>| 3293744 |
| 3.50%, 05/31/29 | &nbsp;&nbsp; EUR<br> 5,870<br>| 6611153 |
| 3.55%, 10/31/33<sup>(a)(e)</sup> | &nbsp;&nbsp; EUR<br> 7,410<br>| 8401857 |
| 3.90%, 07/30/39<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,127<br>| 4739304 |
| 4.00%, 10/31/54<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,740<br>| 1982342 |
| 4.20%, 01/31/37<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,775<br>| 4504320 |
| 4.70%, 07/30/41<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 4,667<br>| 5863185 |
| 4.90%, 07/30/40<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,620<br>| 4625550 |
| 5.15%, 10/31/28<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 11,535<br>| 13745311 |
| 5.15%, 10/31/44<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 3,322<br>| 4436228 |
| 5.75%, 07/30/32 | &nbsp;&nbsp; EUR<br> 8,115<br>| 10576099 |
| 5.90%, 07/30/26<sup>(e)</sup> | &nbsp;&nbsp; EUR<br> 1,341<br>| 1542824 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| 6.00%, 01/31/29 | &nbsp;&nbsp; EUR<br> 3,685<br>| $4550925 |
|  |  | 249252919 |
| **Supranational — 2.5%** | **Supranational — 2.5%** | **Supranational — 2.5%** |
| African Development Bank |  |  |
| 0.13%, 10/07/26 | &nbsp;&nbsp; EUR<br> 150<br>| 156111 |
| 0.50%, 06/22/26 | &nbsp;&nbsp; GBP<br> 300<br>| 362399 |
| 0.50%, 03/22/27 | &nbsp;&nbsp; EUR<br> 200<br>| 207751 |
| 0.50%, 03/21/29 | &nbsp;&nbsp; EUR<br> 300<br>| 298946 |
| 1.10%, 12/16/26 | &nbsp;&nbsp; AUD<br> 500<br>| 306793 |
| 2.25%, 09/14/29 | &nbsp;&nbsp; EUR<br> 200<br>| 214673 |
| Asian Development Bank |  |  |
| 0.00%, 10/24/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 192292 |
| 0.10%, 06/17/31 | &nbsp;&nbsp; EUR<br> 170<br>| 156638 |
| 0.13%, 12/15/26 | &nbsp;&nbsp; GBP<br> 500<br>| 588354 |
| 0.80%, 11/06/25 | &nbsp;&nbsp; AUD<br> 500<br>| 317313 |
| 1.50%, 05/04/28 | &nbsp;&nbsp; CAD<br> 200<br>| 135628 |
| 1.95%, 07/22/32 | &nbsp;&nbsp; EUR<br> 500<br>| 516327 |
| 2.00%, 06/10/37 | &nbsp;&nbsp; EUR<br> 200<br>| 197321 |
| Council of Europe Development Bank |  |  |
| 0.00%, 04/09/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 410322 |
| 0.75%, 06/09/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 53736 |
| Eurofima Europaeische Gesellschaft fuer die <br> Finanzierung von Eisenbahnmaterial, 0.15%, <br> 10/10/34<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 680<br>| 575336 |
| European Financial Stability Facility |  |  |
| 0.00%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,900<br>| 2017526 |
| 0.00%, 10/13/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,400<br>| 1414835 |
| 0.00%, 01/20/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,700<br>| 1568028 |
| 0.05%, 10/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 770<br>| 738531 |
| 0.05%, 01/18/52<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 655<br>| 324323 |
| 0.13%, 03/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 713405 |
| 0.63%, 10/16/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 944834 |
| 0.70%, 01/20/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 610<br>| 393685 |
| 0.70%, 01/17/53<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 243303 |
| 0.75%, 05/03/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 540<br>| 563210 |
| 0.88%, 04/10/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,270<br>| 1132991 |
| 0.95%, 02/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,180<br>| 1220973 |
| 1.20%, 02/17/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 351603 |
| 1.25%, 05/24/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,210<br>| 1163430 |
| 1.38%, 05/31/47<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,322<br>| 1053824 |
| 1.45%, 09/05/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 450<br>| 389534 |
| 1.50%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,350<br>| 1452007 |
| 1.70%, 02/13/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,010<br>| 886304 |
| 1.75%, 07/17/53<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 880<br>| 720235 |
| 1.80%, 07/10/48<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 213661 |
| 2.00%, 02/28/56<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 215243 |
| 2.35%, 07/29/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 900<br>| 869745 |
| 2.38%, 04/11/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,145<br>| 1239201 |
| 2.38%, 06/21/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,198<br>| 1269719 |
| 2.63%, 07/16/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 816398 |
| 2.75%, 12/03/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 180<br>| 197002 |
| 2.88%, 02/16/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,148<br>| 1258743 |
| 3.00%, 09/04/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 549174 |
| 3.38%, 04/03/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 560<br>| 632540 |
| 3.50%, 04/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1354391 |
| European Investment Bank |  |  |
| 0.00%, 03/13/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,460<br>| 1537228 |
| 0.00%, 12/22/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,025<br>| 1060736 |
| 0.00%, 06/17/27 | &nbsp;&nbsp; EUR<br> 1,750<br>| 1787192 |
| 0.00%, 03/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 561<br>| 561794 |
| 0.00%, 09/09/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,110<br>| 1037399 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Supranational (continued)** | **Supranational (continued)** | **Supranational (continued)** |
| 0.00%, 01/14/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 725<br>| $671733 |
| 0.00%, 11/15/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 518766 |
| 0.00%, 05/15/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,550<br>| 1028774 |
| 0.05%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 989<br>| 948456 |
| 0.05%, 01/16/30 | &nbsp;&nbsp; EUR<br> 800<br>| 764655 |
| 0.05%, 10/13/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 497811 |
| 0.05%, 01/27/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 102060 |
| 0.10%, 10/15/26 | &nbsp;&nbsp; EUR<br> 100<br>| 104113 |
| 0.13%, 04/15/25 | &nbsp;&nbsp; EUR<br> 150<br>| 161265 |
| 0.13%, 12/14/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 400<br>| 471231 |
| 0.13%, 06/20/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 850<br>| 827116 |
| 0.25%, 09/14/29 | &nbsp;&nbsp; EUR<br> 720<br>| 700433 |
| 0.25%, 01/20/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,050<br>| 962657 |
| 0.25%, 06/15/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 251150 |
| 0.38%, 04/14/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 530<br>| 560152 |
| 0.38%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 840<br>| 885990 |
| 0.50%, 01/15/27 | &nbsp;&nbsp; EUR<br> 1,691<br>| 1765820 |
| 0.50%, 11/13/37 | &nbsp;&nbsp; EUR<br> 375<br>| 301068 |
| 0.63%, 01/22/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,010<br>| 1015438 |
| 0.75%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 500<br>| 584826 |
| 0.88%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 366159 |
| 0.88%, 01/14/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 414244 |
| 1.00%, 09/21/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 640<br>| 772648 |
| 1.00%, 03/14/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 572<br>| 562691 |
| 1.00%, 04/14/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 840<br>| 812111 |
| 1.00%, 11/14/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 490<br>| 382588 |
| 1.13%, 11/15/32 | &nbsp;&nbsp; EUR<br> 450<br>| 434735 |
| 1.13%, 04/13/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 574166 |
| 1.13%, 09/15/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 950<br>| 851903 |
| 1.25%, 05/12/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 1,000<br>| 93178 |
| 1.50%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 800405 |
| 1.50%, 11/15/47 | &nbsp;&nbsp; EUR<br> 325<br>| 266026 |
| 1.50%, 10/16/48 | &nbsp;&nbsp; EUR<br> 880<br>| 711112 |
| 1.75%, 09/15/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 437798 |
| 1.90%, 01/22/25<sup>(a)</sup> | &nbsp;&nbsp; CAD<br> 500<br>| 357645 |
| 2.25%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,187<br>| 2338787 |
| 2.75%, 07/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,650<br>| 1813729 |
| 2.88%, 01/12/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,250<br>| 1371081 |
| 3.00%, 10/14/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1329951 |
| 3.30%, 02/03/28 | &nbsp;&nbsp; AUD<br> 750<br>| 476858 |
| 3.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 167370 |
| 3.63%, 07/23/29 | &nbsp;&nbsp; NOK<br> 3,000<br>| 267321 |
| 3.88%, 06/08/37<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 770<br>| 916383 |
| 4.00%, 04/15/30 | &nbsp;&nbsp; EUR<br> 1,299<br>| 1513489 |
| 4.00%, 10/15/37 | &nbsp;&nbsp; EUR<br> 451<br>| 546639 |
| 4.50%, 06/07/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 240<br>| 310457 |
| 5.00%, 04/15/39 | &nbsp;&nbsp; GBP<br> 40<br>| 52782 |
| 5.63%, 06/07/32 | &nbsp;&nbsp; GBP<br> 300<br>| 415623 |
| 6.00%, 12/07/28 | &nbsp;&nbsp; GBP<br> 300<br>| 409091 |
| Series EARN, 0.00%, 09/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 49408 |
| Series EARN, 2.75%, 07/17/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 548014 |
| Series EARN, 3.00%, 02/15/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 216768 |
| European Stability Mechanism |  |  |
| 0.00%, 03/04/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,050<br>| 997207 |
| 0.00%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 520<br>| 473081 |
| 0.50%, 03/02/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,100<br>| 1165221 |
| 0.50%, 03/05/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 860<br>| 858220 |
| 0.75%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 783964 |
| 0.75%, 09/05/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,440<br>| 1466923 |
| 0.88%, 07/18/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 80<br>| 61721 |
| 1.00%, 06/23/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 716<br>| 749839 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Supranational (continued)** | **Supranational (continued)** | **Supranational (continued)** |
| 1.13%, 05/03/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| $195170 |
| 1.20%, 05/23/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 627033 |
| 1.63%, 11/17/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 95087 |
| 1.75%, 10/20/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 410<br>| 361186 |
| 1.80%, 11/02/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 860<br>| 759442 |
| 1.85%, 12/01/55<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 420<br>| 349074 |
| European Union |  |  |
| 0.00%, 11/04/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,708<br>| 2874284 |
| 0.00%, 07/06/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,939<br>| 4114345 |
| 0.00%, 06/02/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,850<br>| 1844482 |
| 0.00%, 10/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,500<br>| 3446112 |
| 0.00%, 07/04/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,300<br>| 1258680 |
| 0.00%, 10/04/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,800<br>| 1682692 |
| 0.00%, 04/22/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 919859 |
| 0.00%, 07/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,310<br>| 3008293 |
| 0.00%, 07/04/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,095<br>| 1682950 |
| 0.10%, 10/04/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,650<br>| 1139250 |
| 0.20%, 06/04/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,075<br>| 1665528 |
| 0.25%, 04/22/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,503<br>| 1213439 |
| 0.30%, 11/04/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,146<br>| 1193812 |
| 0.40%, 02/04/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,912<br>| 3139604 |
| 0.45%, 07/04/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,260<br>| 1584654 |
| 0.45%, 05/02/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 774448 |
| 0.70%, 07/06/51<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,610<br>| 1573852 |
| 0.75%, 04/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 180<br>| 174769 |
| 0.75%, 01/04/47<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 930<br>| 640619 |
| 1.00%, 07/06/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,047<br>| 3860735 |
| 1.13%, 04/04/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 100<br>| 90767 |
| 1.13%, 06/04/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 355366 |
| 1.25%, 04/04/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 860<br>| 838070 |
| 1.25%, 02/04/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,993<br>| 1565742 |
| 1.38%, 10/04/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 569<br>| 587153 |
| 1.50%, 10/04/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 60<br>| 57382 |
| 1.63%, 12/04/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,348<br>| 3462732 |
| 2.00%, 10/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 4,000<br>| 4295442 |
| 2.50%, 11/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1091127 |
| 2.50%, 12/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,648<br>| 1759908 |
| 2.50%, 10/04/52<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,005<br>| 1848573 |
| 2.63%, 02/04/48<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,080<br>| 2991853 |
| 2.75%, 10/05/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,829<br>| 4185229 |
| 2.75%, 02/04/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,517<br>| 2720401 |
| 2.75%, 12/04/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,025<br>| 1083586 |
| 2.88%, 04/04/28 | &nbsp;&nbsp; EUR<br> 891<br>| 983195 |
| 3.00%, 03/04/53<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 3,470<br>| 3538374 |
| 3.13%, 12/04/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,250<br>| 2501637 |
| 3.25%, 07/04/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1337160 |
| 3.38%, 04/04/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 171951 |
| 3.38%, 04/04/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 572046 |
| 3.38%, 11/04/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,600<br>| 2866399 |
| 3.75%, 04/04/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 530<br>| 630241 |
| 4.00%, 04/04/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,150<br>| 2559172 |
| Inter-American Development Bank |  |  |
| 0.88%, 08/27/27 | &nbsp;&nbsp; CAD<br> 200<br>| 134764 |
| 1.00%, 08/04/28 | &nbsp;&nbsp; AUD<br> 200<br>| 116070 |
| 1.25%, 12/15/25 | &nbsp;&nbsp; GBP<br> 200<br>| 248182 |
| 1.38%, 12/15/24 | &nbsp;&nbsp; GBP<br> 100<br>| 128415 |
| 2.50%, 04/14/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 100<br>| 62971 |
| 4.75%, 10/05/29 | &nbsp;&nbsp; GBP<br> 500<br>| 654340 |
| International Bank for Reconstruction & <br> Development<br>|  |  |
| 0.00%, 02/21/30 | &nbsp;&nbsp; EUR<br> 500<br>| 475618 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Supranational (continued)** | **Supranational (continued)** | **Supranational (continued)** |
| 0.13%, 01/03/51 | &nbsp;&nbsp; EUR<br> 200<br>| $106335 |
| 0.20%, 01/21/61 | &nbsp;&nbsp; EUR<br> 230<br>| 101541 |
| 0.25%, 05/21/29 | &nbsp;&nbsp; EUR<br> 500<br>| 491142 |
| 0.25%, 01/10/50 | &nbsp;&nbsp; EUR<br> 220<br>| 125683 |
| 0.50%, 05/18/26 | &nbsp;&nbsp; AUD<br> 100<br>| 62034 |
| 0.63%, 11/22/27 | &nbsp;&nbsp; EUR<br> 300<br>| 309427 |
| 0.63%, 07/14/28 | &nbsp;&nbsp; GBP<br> 150<br>| 168291 |
| 0.63%, 01/12/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 60<br>| 55504 |
| 0.88%, 12/13/24 | &nbsp;&nbsp; GBP<br> 300<br>| 385124 |
| 1.00%, 12/21/29 | &nbsp;&nbsp; GBP<br> 400<br>| 436826 |
| 1.10%, 11/18/30 | &nbsp;&nbsp; AUD<br> 4,000<br>| 2131507 |
| 1.25%, 12/13/28 | &nbsp;&nbsp; GBP<br> 600<br>| 683645 |
| 2.60%, 08/28/31 | &nbsp;&nbsp; EUR<br> 500<br>| 542797 |
| 2.90%, 11/26/25 | &nbsp;&nbsp; AUD<br> 510<br>| 330244 |
| 3.70%, 01/18/28 | &nbsp;&nbsp; CAD<br> 1,000<br>| 729655 |
| Series GDIF, 0.00%, 02/21/30 | &nbsp;&nbsp; EUR<br> 100<br>| 95124 |
| International Development Association |  |  |
| 0.00%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 300<br>| 274064 |
| 0.35%, 04/22/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 164065 |
| 0.70%, 01/17/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 50<br>| 37014 |
| 0.75%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 335377 |
| 1.75%, 05/05/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 530<br>| 502812 |
| 2.50%, 01/15/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 650<br>| 665196 |
| 2.80%, 10/17/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,300<br>| 2493494 |
| International Finance Corp. |  |  |
| 0.75%, 05/24/28 | &nbsp;&nbsp; AUD<br> 1,000<br>| 578444 |
| 2.13%, 09/12/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 7,000<br>| 643145 |
| 3.15%, 06/26/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 580<br>| 359540 |
| 4.25%, 10/22/29 | &nbsp;&nbsp; GBP<br> 1,000<br>| 1280867 |
| 4.60%, 10/19/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 550<br>| 363616 |
| Isle of Man Government International Bond, <br> 1.63%, 09/14/51<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 150<br>| 90934 |
| Jersey International Bond, 2.88%, 05/06/52<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 100<br>| 83786 |
| Nordic Investment Bank, 0.00%, 04/30/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 600<br>| 614836 |
|  |  | 176178871 |
| **Sweden — 0.4%** | **Sweden — 0.4%** | **Sweden — 0.4%** |
| Kommuninvest I Sverige AB |  |  |
| 0.38%, 06/10/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 16,860<br>| 1535638 |
| 1.00%, 05/12/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 13,000<br>| 1210314 |
| 1.00%, 11/12/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 5,000<br>| 457823 |
| 2.75%, 02/12/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 410<br>| 448428 |
| 2.88%, 05/23/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,200<br>| 1324020 |
| 3.00%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 551816 |
| Svensk Exportkredit AB |  |  |
| 0.13%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 244756 |
| 3.38%, 08/30/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,000<br>| 1124799 |
| Sveriges Sakerstallda Obligationer AB |  |  |
| 0.75%, 06/09/32<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 2,000<br>| 161630 |
| 3.50%, 06/14/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 2,000<br>| 194231 |
| Sweden Government Bond |  |  |
| 0.13%, 05/12/31<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 24,085<br>| 2002605 |
| 0.50%, 11/24/45<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 7,450<br>| 487342 |
| 0.75%, 05/12/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 47,210<br>| 4262624 |
| 0.75%, 11/12/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 30,370<br>| 2688065 |
| 1.00%, 11/12/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 29,550<br>| 2727248 |
| 1.75%, 11/11/33<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 10,250<br>| 934743 |
| 2.25%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 14,940<br>| 1421727 |
| 2.25%, 05/11/35<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 3,000<br>| 284291 |
| 2.50%, 05/12/25<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 22,400<br>| 2103250 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| 3.50%, 03/30/39<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 8,630<br>| $929358 |
|  |  | 25094708 |
| **Switzerland — 0.7%** | **Switzerland — 0.7%** | **Switzerland — 0.7%** |
| Agricultural Development Bank of China, 2.30%, <br> 07/04/34<br>| &nbsp;&nbsp; CNY<br> 5,610<br>| 791166 |
| Canton of Zurich, 0.00%, 11/10/33<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 300<br>| 326112 |
| China Development Bank, 2.82%, 05/22/33 | &nbsp;&nbsp; CNY<br> 29,800<br>| 4370580 |
| China Government International Bond, 2.63%, <br> 10/09/31<sup>(a)</sup><br>| &nbsp;&nbsp; EUR<br> 1,100<br>| 1190542 |
| Export-Import Bank of China (The) |  |  |
| 2.50%, 10/13/26 | &nbsp;&nbsp; CNY<br> 22,700<br>| 3231998 |
| 2.50%, 08/04/28 | &nbsp;&nbsp; CNY<br> 2,000<br>| 286967 |
| 2.64%, 04/14/26 | &nbsp;&nbsp; CNY<br> 20,000<br>| 2844374 |
| 2.74%, 09/05/29 | &nbsp;&nbsp; CNY<br> 11,000<br>| 1599636 |
| Swiss Confederation Government Bond |  |  |
| 0.00%, 06/22/29<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 14,802<br>| 16874673 |
| 0.00%, 06/26/34<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 9,443<br>| 10527015 |
| 0.00%, 07/24/39<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 6,119<br>| 6621041 |
| 0.50%, 05/24/55<sup>(a)</sup> | &nbsp;&nbsp; CHF<br> 1,900<br>| 2252694 |
|  |  | 50916798 |
| **Thailand — 0.6%** | **Thailand — 0.6%** | **Thailand — 0.6%** |
| Thailand Government Bond |  |  |
| 1.00%, 06/17/27 | &nbsp;&nbsp; THB<br> 68,724<br>| 1978351 |
| 1.59%, 12/17/35 | &nbsp;&nbsp; THB<br> 55,508<br>| 1505596 |
| 1.60%, 12/17/29 | &nbsp;&nbsp; THB<br> 45,481<br>| 1308290 |
| 1.60%, 06/17/35 | &nbsp;&nbsp; THB<br> 39,268<br>| 1069663 |
| 2.00%, 12/17/31 | &nbsp;&nbsp; THB<br> 132,318<br>| 3845819 |
| 2.00%, 06/17/42 | &nbsp;&nbsp; THB<br> 57,415<br>| 1514253 |
| 2.13%, 12/17/26 | &nbsp;&nbsp; THB<br> 36,520<br>| 1082657 |
| 2.35%, 06/17/26 | &nbsp;&nbsp; THB<br> 61,380<br>| 1826273 |
| 2.40%, 03/17/29 | &nbsp;&nbsp; THB<br> 100,000<br>| 2989623 |
| 2.65%, 06/17/28 | &nbsp;&nbsp; THB<br> 40,000<br>| 1205921 |
| 2.75%, 06/17/52 | &nbsp;&nbsp; THB<br> 41,420<br>| 1139146 |
| 2.80%, 06/17/34 | &nbsp;&nbsp; THB<br> 55,000<br>| 1681818 |
| 2.88%, 12/17/28 | &nbsp;&nbsp; THB<br> 100,030<br>| 3045587 |
| 2.88%, 06/17/46 | &nbsp;&nbsp; THB<br> 64,910<br>| 1876421 |
| 3.30%, 06/17/38 | &nbsp;&nbsp; THB<br> 67,106<br>| 2136219 |
| 3.35%, 06/17/33 | &nbsp;&nbsp; THB<br> 57,877<br>| 1840382 |
| 3.39%, 06/17/37 | &nbsp;&nbsp; THB<br> 27,040<br>| 870224 |
| 3.40%, 06/17/36 | &nbsp;&nbsp; THB<br> 34,818<br>| 1118082 |
| 3.45%, 06/17/43 | &nbsp;&nbsp; THB<br> 103,490<br>| 3312819 |
| 3.58%, 12/17/27 | &nbsp;&nbsp; THB<br> 18,200<br>| 561568 |
| 3.60%, 06/17/67 | &nbsp;&nbsp; THB<br> 72,950<br>| 2259410 |
| 3.65%, 06/20/31 | &nbsp;&nbsp; THB<br> 31,080<br>| 999335 |
| 3.80%, 06/14/41 | &nbsp;&nbsp; THB<br> 2,000<br>| 67718 |
| 3.85%, 12/12/25 | &nbsp;&nbsp; THB<br> 36,765<br>| 1110066 |
| 4.00%, 06/17/55 | &nbsp;&nbsp; THB<br> 11,160<br>| 387823 |
| 4.00%, 06/17/66 | &nbsp;&nbsp; THB<br> 29,000<br>| 970203 |
| 4.00%, 06/17/72 | &nbsp;&nbsp; THB<br> 25,000<br>| 850354 |
| 4.26%, 12/12/37<sup>(a)</sup> | &nbsp;&nbsp; THB<br> 35,800<br>| 1233764 |
| 4.68%, 06/29/44 | &nbsp;&nbsp; THB<br> 17,120<br>| 641305 |
| 4.85%, 06/17/61 | &nbsp;&nbsp; THB<br> 4,500<br>| 176379 |
|  |  | 44605069 |
| **United Kingdom — 5.5%** | **United Kingdom — 5.5%** | **United Kingdom — 5.5%** |
| LCR Finance PLC |  |  |
| 4.50%, 12/07/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 150<br>| 193081 |
| 4.50%, 12/07/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 200<br>| 248483 |
| Transport for London, 3.88%, 07/23/42<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 350<br>| 371554 |
| United Kingdom Gilt |  |  |
| 0.13%, 01/30/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 1,435<br>| 1763222 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 0.13%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,092<br>| $6920593 |
| 0.25%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,958<br>| 7900530 |
| 0.38%, 10/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,200<br>| 3828075 |
| 0.38%, 10/22/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,797<br>| 8061592 |
| 0.50%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,800<br>| 7531924 |
| 0.50%, 10/22/61<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,252<br>| 2684066 |
| 0.63%, 07/31/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 9,709<br>| 8476080 |
| 0.63%, 10/22/50<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,590<br>| 3798279 |
| 0.88%, 10/22/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 13,210<br>| 14581062 |
| 0.88%, 07/31/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 13,085<br>| 12626805 |
| 0.88%, 01/31/46<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,354<br>| 2701942 |
| 1.00%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 8,830<br>| 9080332 |
| 1.13%, 01/31/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 5,981<br>| 4939955 |
| 1.13%, 10/22/73<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,368<br>| 1516468 |
| 1.25%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 10,270<br>| 12256889 |
| 1.25%, 10/22/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 13,742<br>| 10622487 |
| 1.25%, 07/31/51<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 5,627<br>| 3391493 |
| 1.50%, 07/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 12,470<br>| 15331307 |
| 1.50%, 07/22/47<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 5,023<br>| 3530906 |
| 1.50%, 07/31/53<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,598<br>| 2257792 |
| 1.63%, 10/22/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,800<br>| 9145525 |
| 1.63%, 10/22/54<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,414<br>| 4122675 |
| 1.63%, 10/22/71<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,350<br>| 2442552 |
| 1.75%, 09/07/37<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,717<br>| 4440471 |
| 1.75%, 01/22/49<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 5,137<br>| 3739500 |
| 1.75%, 07/22/57<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,122<br>| 3985558 |
| 2.50%, 07/22/65<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,023<br>| 3115121 |
| 3.25%, 01/31/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,050<br>| 8396329 |
| 3.25%, 01/22/44<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,458<br>| 4627343 |
| 3.50%, 01/22/45<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,863<br>| 5199221 |
| 3.50%, 07/22/68<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,605<br>| 3605220 |
| 3.75%, 03/07/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 20,648<br>| 26224392 |
| 3.75%, 01/29/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,124<br>| 4879370 |
| 3.75%, 07/22/52<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 5,290<br>| 5684654 |
| 3.75%, 10/22/53<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,510<br>| 6951988 |
| 4.00%, 10/22/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 2,420<br>| 3057937 |
| 4.00%, 01/22/60<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 4,045<br>| 4517268 |
| 4.00%, 10/22/63<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,270<br>| 3631658 |
| 4.13%, 01/29/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,346<br>| 8131085 |
| 4.13%, 07/22/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 1,180<br>| 1509953 |
| 4.25%, 12/07/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,452<br>| 8326708 |
| 4.25%, 06/07/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,973<br>| 10266216 |
| 4.25%, 07/31/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 5,120<br>| 6507480 |
| 4.25%, 03/07/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,600<br>| 4542911 |
| 4.25%, 09/07/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,669<br>| 4521209 |
| 4.25%, 12/07/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,890<br>| 4753895 |
| 4.25%, 12/07/46<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,292<br>| 8640500 |
| 4.25%, 12/07/49<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,946<br>| 4646344 |
| 4.25%, 12/07/55<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 5,116<br>| 5974976 |
| 4.38%, 01/31/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 1,000<br>| 1244402 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 4.38%, 07/31/54<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,039<br>| $7189619 |
| 4.50%, 06/07/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,868<br>| 8903155 |
| 4.50%, 09/07/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 7,695<br>| 9992309 |
| 4.50%, 12/07/42<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,814<br>| 8493383 |
| 4.63%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,841<br>| 8951133 |
| 4.75%, 12/07/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 3,246<br>| 4301456 |
| 4.75%, 12/07/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 2,704<br>| 3534764 |
| 4.75%, 10/22/43<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 6,956<br>| 8895106 |
| 6.00%, 12/07/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 518<br>| 713337 |
|  |  | 382421640 |
| **United States — 0.0%** | **United States — 0.0%** | **United States — 0.0%** |
| International Development Association, 0.38%, <br> 09/22/27<sup>(a)</sup><br>| &nbsp;&nbsp; GBP<br> 200<br>| 229758 |
| **Total Foreign Government Obligations — 80.4%** <br>**(Cost: $5,953,270,733)** | **Total Foreign Government Obligations — 80.4%** <br>**(Cost: $5,953,270,733)** | 5613149836 |
| **Total Long-Term Investments — 98.9%** <br>**(Cost: $7,282,199,092)** | **Total Long-Term Investments — 98.9%** <br>**(Cost: $7,282,199,092)** | 6901203572 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.2%** | **Money Market Funds — 0.2%** | **Money Market Funds — 0.2%** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(g)(h)</sup><br>| &nbsp;&nbsp; 15040000 | 15040000 |
| **Total Short-Term Securities — 0.2%** <br>**(Cost: $15,040,000)** | **Total Short-Term Securities — 0.2%** <br>**(Cost: $15,040,000)** | 15040000 |
| **Total Investments — 99.1%** <br>**(Cost: $7,297,239,092)** | **Total Investments — 99.1%** <br>**(Cost: $7,297,239,092)** | 6916243572 |
| **Other Assets Less Liabilities — 0.9%** | **Other Assets Less Liabilities — 0.9%** | 63586377 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $6979829949 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(c)</sup> Perpetual security with no stated maturity date.

<sup>(d)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(e)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(f)</sup> Zero-coupon bond.

<sup>(g)</sup> Affiliate of the Fund.

<sup>(h)</sup> Annualized 7-day yield as of period end.

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| $26350000 | $—<br> $(11310000 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $15040000 | 15040000 | $1252011 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| AUD | 48105000 | USD | 31597288 | Bank of New York Mellon | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $60610 |
| AUD | 200450000 | USD | 131556306 | Deutsche Bank Securities Inc. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321763 |
| AUD | 46690000 | USD | 30630041 | UBS AG | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96646 |
| CHF | 63810000 | USD | 73670842 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221810 |
| CNY | 9340050297 | USD | 1311367614 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1236707 |
| CZK | 460295000 | USD | 19733976 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39929 |
| DKK | 192305000 | USD | 28012545 | Citibank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29451 |
| EUR | 2792630000 | USD | 3036985125 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697794 |
| HUF | 3802920000 | USD | 10116352 | Nomura Securities International Inc. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17471 |
| MXN | 772640000 | USD | 38497260 | UBS AG | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116399 |
| NZD | 33520000 | USD | 19998702 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36203 |
| PLN | 114070000 | USD | 28472198 | Nomura Securities International Inc. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25710 |
| RON | 59855000 | USD | 13080201 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7007 |
| SEK | 543665000 | USD | 50869525 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157031 |
| SGD | 38185000 | USD | 28893227 | Nomura Securities International Inc. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23850 |
| THB | 1450285000 | USD | 42958679 | UBS AG | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19096 |
| USD | 193383773 | AUD | 279115000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9698202 |
| USD | 2089115 | AUD | 3110000 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42424 |
| USD | 498321 | AUD | 740000 | UBS AG | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11327 |
| USD | 195551145 | CAD | 264025000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5905787 |
| USD | 178484882 | CAD | 241030000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5356500 |
| USD | 913218 | CHF | 770000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21550 |
| USD | 74924662 | CHF | 63040000 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1923678 |
| USD | 1307522260 | CNY | 9150050297 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21617206 |
| USD | 20462251 | CZK | 460295000 | Nomura Securities International Inc. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688345 |
| USD | 27892556 | DKK | 185595000 | Deutsche Bank Securities Inc. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829015 |
| USD | 1003731 | DKK | 6710000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25276 |
| USD | 45265381 | EUR | 40540000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1168002 |
| USD | 7572054 | EUR | 6900000 | Societe Generale | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66580 |
| USD | 3071450841 | EUR | 2740830000 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90113366 |
| USD | 4872658 | EUR | 4360000 | UBS AG | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130068 |
| USD | 561970768 | GBP | 419110000 | Citibank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21549066 |
| USD | 1283439 | GBP | 960000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45567 |
| USD | 1949956 | GBP | 1490000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28674 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 12769145 | HUF | 4545710000 | Citibank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $655975 |
| USD | 16313663 | ILS | 60345000 | Citibank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158983 |
| USD | 37269577 | MXN | 735480000 | Bank of New York Mellon | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513037 |
| USD | 1877457 | MXN | 37160000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20339 |
| USD | 10978833 | NOK | 115550000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474478 |
| USD | 21298414 | NZD | 33520000 | Citibank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1263508 |
| USD | 830764 | PLN | 3200000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31313 |
| USD | 28977424 | PLN | 110870000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1278967 |
| USD | 13449949 | RON | 59855000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362741 |
| USD | 53896159 | SEK | 543665000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2869602 |
| USD | 28497191 | SGD | 36445000 | Bank of New York Mellon | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897796 |
| USD | 1356075 | SGD | 1740000 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38393 |
| USD | 45086113 | THB | 1450285000 | Deutsche Bank Securities Inc. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2108339 |
| JPY | 108171465000 | USD | 708392043 | Deutsche Bank Securities Inc. | 11/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3543359 |
| USD | 761747506 | JPY | 108128535000 | Deutsche Bank Securities Inc. | 11/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50094650 |
| USD | 1983947 | JPY | 283830000 | JPMorgan Chase Bank N.A. | 11/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115907 |
| USD | 1446864 | JPY | 214240000 | UBS AG | 11/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36833 |
| USD | 196436811 | CAD | 272730000 | Citibank N.A. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366683 |
| USD | 167207050 | CAD | 232325000 | JPMorgan Chase Bank N.A. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184748 |
| USD | 541676370 | GBP | 417430000 | UBS AG | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3443922 |
| USD | 16208416 | ILS | 60345000 | JPMorgan Chase Bank N.A. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39305 |
| USD | 10517920 | NOK | 115550000 | State Street Bank & Trust Company | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11709 |
| USD | 7059595 | CLP | 6698850000 | Citibank N.A. | 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94106 |
| USD | 14248411 | COP | 61920030000 | Citibank N.A. | 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337588 |
| USD | 1724981 | COP | 7379400000 | JPMorgan Chase Bank N.A. | 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67141 |
| USD | 57050316 | IDR | 885420897565 | Citibank N.A. | 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 769986 |
| USD | 2085915 | IDR | 31699655000 | Deutsche Bank Securities Inc. | 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70979 |
| USD | 160763638 | KRW | 215104615000 | Citibank N.A. | 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4044223 |
| USD | 54788228 | MYR | 237370000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503277 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236725997 |
| CAD | 272730000 | USD | 196265818 | Citibank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (367783)<br>|
| CAD | 232325000 | USD | 167060964 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (185259)<br>|
| GBP | 421560000 | USD | 547238600 | UBS AG | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3657743)<br>|
| HUF | 742790000 | USD | 2084773 | UBS AG | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (105425)<br>|
| ILS | 60345000 | USD | 16196130 | JPMorgan Chase Bank N.A. | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (41450)<br>|
| NOK | 115550000 | USD | 10516046 | State Street Bank & Trust Company | 11/04/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11692)<br>|
| JPY | 455140000 | USD | 3196700 | UBS AG | 11/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (201175)<br>|
| USD | 31606813 | AUD | 48105000 | Bank of New York Mellon | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60820)<br>|
| USD | 131595954 | AUD | 200450000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (360747)<br>|
| USD | 30639425 | AUD | 46690000 | UBS AG | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (96710)<br>|
| USD | 9378108 | CAD | 13060000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10943)<br>|
| USD | 73902349 | CHF | 63810000 | State Street Bank & Trust Company | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (222517)<br>|
| USD | 1319878746 | CNY | 9380050297 | State Street Bank & Trust Company | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4154069)<br>|
| USD | 19744795 | CZK | 460295000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39875)<br>|
| USD | 28053957 | DKK | 192305000 | Citibank N.A. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29335)<br>|
| USD | 82986342 | EUR | 76350000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (161433)<br>|
| USD | 3040570862 | EUR | 2792630000 | State Street Bank & Trust Company | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (699217)<br>|
| USD | 6260799 | GBP | 4870000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18558)<br>|
| USD | 10101315 | HUF | 3802920000 | Nomura Securities International Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17929)<br>|

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 710948104 | JPY | 108171465000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3553271)<br>|
| USD | 51315903 | JPY | 7788620000 | UBS AG | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (130009)<br>|
| USD | 1201241 | MXN | 24190000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1593)<br>|
| USD | 38304781 | MXN | 772640000 | UBS AG | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (114333)<br>|
| USD | 2083340 | NZD | 3500000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9006)<br>|
| USD | 20847190 | NZD | 34940000 | State Street Bank & Trust Company | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40398)<br>|
| USD | 28447691 | PLN | 114070000 | Nomura Securities International Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25675)<br>|
| USD | 697783 | RON | 3200000 | Deutsche Bank Securities Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1464)<br>|
| USD | 13068074 | RON | 59855000 | JPMorgan Chase Bank N.A. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11124)<br>|
| USD | 252928 | RON | 1160000 | State Street Bank & Trust Company | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (549)<br>|
| USD | 50942419 | SEK | 543665000 | JPMorgan Chase Bank N.A. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (157451)<br>|
| USD | 28930505 | SGD | 38185000 | Nomura Securities International Inc. | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24459)<br>|
| USD | 45303346 | THB | 1528085000 | UBS AG | 12/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (64456)<br>|
| USD | 7902696 | PEN | 30310000 | Citibank N.A. | 12/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (125838)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14702306)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $222023691 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on forward foreign currency exchange con-<br> tracts<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $236725997 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $236725997 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on forward foreign currency exchange con-<br> tracts<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14702306 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14702306 |

---

For the period ended October 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(180747692)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(180747692)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $192357519 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $192357519 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Forward foreign currency exchange contracts: |  |
| Average amounts purchased — in USD | &nbsp;&nbsp; $5861665491 |
| Average amounts sold — in USD | &nbsp;&nbsp; $12187120747 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**Derivative Financial Instruments - Offsetting as of Period End**

The Fund's derivative assets and liabilities (by type) were as follows:

---

| | | |
|:---|:---|:---|
|  | *Assets* | *Liabilities* |
| **Derivative Financial Instruments:** |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $236725997 | &nbsp;&nbsp;&nbsp; $14702306 |
| Total derivative assets and liabilities in the Statement of Assets and Liabilities | &nbsp;&nbsp; 236725997 | &nbsp;&nbsp;&nbsp; 14702306 |
| Derivatives not subject to a Master Netting Agreement or similar agreement ("MNA") | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total derivative assets and liabilities subject to an MNA | &nbsp;&nbsp; $236725997 | &nbsp;&nbsp;&nbsp; $14702306 |

---

The following tables present the Fund's derivative assets and liabilities by counterparty net of amounts available for offset under an MNA and net of the related collateral received and pledged by the Fund:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Assets* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Received*<br>| *Cash* <br>*Collateral* <br>*Received*<sup>(b)</sup> <br>| *Net Amount* <br>*of Derivative* <br>*Assets*<sup>(c)(d)</sup> <br>|
| Bank of New York Mellon | &nbsp;&nbsp; $1471443 | &nbsp;&nbsp; $(60820)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1410623 |
| Citibank N.A. | &nbsp;&nbsp; 29269569 | &nbsp;&nbsp; (522956)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5620000)<br>| &nbsp;&nbsp; 23126613 |
| Deutsche Bank Securities Inc. | &nbsp;&nbsp; 56968105 | &nbsp;&nbsp; (4117015)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 52851090 |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 21232389 | &nbsp;&nbsp; (395284)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 20837105 |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 7207347 | &nbsp;&nbsp; (39875)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7167472 |
| Nomura Securities International Inc. | &nbsp;&nbsp; 755376 | &nbsp;&nbsp; (68063)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 687313 |
| Societe Generale | &nbsp;&nbsp; 66580 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 66580 |
| State Street Bank & Trust Company | &nbsp;&nbsp; 115900897 | &nbsp;&nbsp; (5128442)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 110772455 |
| UBS AG | &nbsp;&nbsp; 3854291 | &nbsp;&nbsp; (3854291)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $236725997 | &nbsp;&nbsp; $(14186746)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(5620000)<br>| &nbsp;&nbsp; $216919251 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Liabilities* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Pledged*<br>| *Cash* <br>*Collateral* <br>*Pledged*<br>| *Net Amount* <br>*of Derivative* <br>*Liabilities*<sup>(d)(e)</sup> <br>|
| Bank of New York Mellon | &nbsp;&nbsp; $60820 | &nbsp;&nbsp; $(60820)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Citibank N.A. | &nbsp;&nbsp; 522956 | &nbsp;&nbsp; (522956)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Deutsche Bank Securities Inc. | &nbsp;&nbsp; 4117015 | &nbsp;&nbsp; (4117015)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 395284 | &nbsp;&nbsp; (395284)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 39875 | &nbsp;&nbsp; (39875)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Nomura Securities International Inc. | &nbsp;&nbsp; 68063 | &nbsp;&nbsp; (68063)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| State Street Bank & Trust Company | &nbsp;&nbsp; 5128442 | &nbsp;&nbsp; (5128442)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 4369851 | &nbsp;&nbsp; (3854291)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 515560 |
|  | &nbsp;&nbsp; $14702306 | &nbsp;&nbsp; $(14186746)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $515560 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The amount of derivatives available for offset is limited to the amount of derivative assets and/or liabilities that are subject to an MNA.

<sup>(b)</sup> Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes.

<sup>(c)</sup> Net amount represents the net amount receivable from the counterparty in the event of default.

<sup>(d)</sup> Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

<sup>(e)</sup> Net amount represents the net amount payable due to the counterparty in the event of default.

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Core International Aggregate Bond ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1288053736 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1288053736 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 5613149836 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5613149836 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 15040000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 15040000 |
|  | &nbsp;&nbsp; $15040000 | &nbsp;&nbsp; $6901203572 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6916243572 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $236725997 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $236725997 |
| Liabilities  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (14702306)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (14702306)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $222023691 | &nbsp;&nbsp; $— | &nbsp;&nbsp; 222023691 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Core 1-5 Year USD <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Core International <br> Aggregate Bond <br> ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $4025361070 | $6901203572 |
| Investments, at value—affiliated<sup>(c)</sup> | 82252372 | 15040000 |
| Cash |  | 7758 |
| Foreign currency, at value<sup>(d)</sup> | 9834 | 42262096 |
| Receivables: |  |  |
| Investments sold | 86211136 | 72083358 |
| Securities lending income—affiliated | 36384 |  |
| Capital shares sold | 782121 | 131947 |
| Dividends—unaffiliated |  | 2616 |
| Dividends—affiliated | 110388 | 49148 |
| Interest—unaffiliated | 33203700 | 61572881 |
| Unrealized appreciation on forward foreign currency exchange contracts |  | 236725997 |
| Other assets |  | 59697 |
| Total assets | 4227967005 | 7329139070 |
| **LIABILITIES** |  |  |
| Bank overdraft | 1370014 |  |
| Cash received as collateral for OTC derivatives |  | 5620000 |
| Collateral on securities loaned, at value | 49671847 |  |
| Payables: |  |  |
| Investments purchased | 85694492 | 328338121 |
| Capital shares redeemed | 30714 |  |
| Deferred foreign capital gain tax |  | 233913 |
| Investment advisory fees | 205534 | 414781 |
| Unrealized depreciation on forward foreign currency exchange contracts |  | 14702306 |
| Total liabilities | 136972601 | 349309121 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $4090994404 | $6979829949 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $4288780841 | $7021544324 |
| Accumulated loss | (197786437) | (41714375) |
| NET ASSETS | $4090994404 | $6979829949 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 85200000 | 135450000 |
| Net asset value | $48.02 | $51.53 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $4073963602 | $7282199092 |
| <sup>(b)</sup> Securities loaned, at value | $36036324 | $— |
| <sup>(c)</sup> Investments, at cost—affiliated | $82249833 | $15040000 |
| <sup>(d)</sup> Foreign currency, at cost | $9628 | $42893139 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>Core 1-5 <br> Year USD <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Core <br> International <br> Aggregate <br> Bond ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $1322981 | &nbsp;&nbsp;&nbsp; $1252011 |
| Interest—unaffiliated | &nbsp;&nbsp; 154928324 | &nbsp;&nbsp;&nbsp; 143002540 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 369840 | &nbsp;&nbsp;&nbsp; — |
| Other income—unaffiliated | &nbsp;&nbsp; 92573 | &nbsp;&nbsp;&nbsp; 61363 |
| Foreign taxes withheld | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (440479)<br>|
| Total investment income | &nbsp;&nbsp; 156713718 | &nbsp;&nbsp;&nbsp; 143875435 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 2467366 | &nbsp;&nbsp;&nbsp; 4174830 |
| Litigation fees | &nbsp;&nbsp; 20007 | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 2487373 | &nbsp;&nbsp;&nbsp; 4174830 |
| Less: |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; (22058)<br>| &nbsp;&nbsp;&nbsp; — |
| Total expenses after fees waived | &nbsp;&nbsp; 2465315 | &nbsp;&nbsp;&nbsp; 4174830 |
| Net investment income | &nbsp;&nbsp; 154248403 | &nbsp;&nbsp;&nbsp; 139700605 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (35136787)<br>| &nbsp;&nbsp;&nbsp; (87782220)<br>|
| Investments—affiliated | &nbsp;&nbsp; 10433 | &nbsp;&nbsp;&nbsp; — |
| Capital gain distributions from underlying funds—affiliated | &nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp; — |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (180747692)<br>|
| Foreign currency transactions | &nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp; (688581)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; (6161708)<br>| &nbsp;&nbsp;&nbsp; (1504975)<br>|
|  | &nbsp;&nbsp; (41287981)<br>| &nbsp;&nbsp;&nbsp; (270723468)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; 195654001 | &nbsp;&nbsp;&nbsp; 452789811 |
| Investments—affiliated | &nbsp;&nbsp; (2302)<br>| &nbsp;&nbsp;&nbsp; — |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 192357519 |
| Foreign currency translations | &nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp; 465116 |
|  | &nbsp;&nbsp; 195651864 | &nbsp;&nbsp;&nbsp; 645612446 |
| Net realized and unrealized gain | &nbsp;&nbsp; 154363883 | &nbsp;&nbsp;&nbsp; 374888978 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $308612286 | &nbsp;&nbsp;&nbsp; $514589583 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(b)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(187139)<br>|

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Core 1-5 Year USD Bond ETF  | iShares <br>Core 1-5 Year USD Bond ETF  | iShares <br>Core International Aggregate Bond ETF  | iShares <br>Core International Aggregate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $154248403 | &nbsp;&nbsp;&nbsp; $129174923 | &nbsp;&nbsp;&nbsp; $139700605 | &nbsp;&nbsp;&nbsp; $80647913 |
| Net realized loss | &nbsp;&nbsp; (41287981)<br>| &nbsp;&nbsp;&nbsp; (147118425)<br>| &nbsp;&nbsp;&nbsp; (270723468)<br>| &nbsp;&nbsp;&nbsp; (156373743)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 195651864 | &nbsp;&nbsp;&nbsp; 192136327 | &nbsp;&nbsp;&nbsp; 645612446 | &nbsp;&nbsp;&nbsp; 157267807 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 308612286 | &nbsp;&nbsp;&nbsp; 174192825 | &nbsp;&nbsp;&nbsp; 514589583 | &nbsp;&nbsp;&nbsp; 81541977 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (152406116)<br>| &nbsp;&nbsp;&nbsp; (129169868)<br>| &nbsp;&nbsp;&nbsp; (191570999)<br>| &nbsp;&nbsp;&nbsp; (90752615)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (109322521)<br>| &nbsp;&nbsp;&nbsp; (1061646072)<br>| &nbsp;&nbsp;&nbsp; 1893674764 | &nbsp;&nbsp;&nbsp; 1093832782 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 46883649 | &nbsp;&nbsp;&nbsp; (1016623115)<br>| &nbsp;&nbsp;&nbsp; 2216693348 | &nbsp;&nbsp;&nbsp; 1084622144 |
| Beginning of year | &nbsp;&nbsp; 4044110755 | &nbsp;&nbsp;&nbsp; 5060733870 | &nbsp;&nbsp;&nbsp; 4763136601 | &nbsp;&nbsp;&nbsp; 3678514457 |
| End of year | &nbsp;&nbsp; $4090994404 | &nbsp;&nbsp;&nbsp; $4044110755 | &nbsp;&nbsp;&nbsp; $6979829949 | &nbsp;&nbsp;&nbsp; $4763136601 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Core 1-5 Year USD Bond ETF  | iShares Core 1-5 Year USD Bond ETF  | iShares Core 1-5 Year USD Bond ETF  | iShares Core 1-5 Year USD Bond ETF  | iShares Core 1-5 Year USD Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $46.22 | &nbsp;&nbsp;&nbsp; $45.92 | &nbsp;&nbsp;&nbsp; $50.73 | &nbsp;&nbsp;&nbsp; $51.38 | &nbsp;&nbsp;&nbsp; $50.50 |
| Net investment income<sup>(a)</sup> | 1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 1.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp; (4.80)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.92 |
| Net increase (decrease) from investment operations | 3.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp; (3.95)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;2.10 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.76)<br>| &nbsp;&nbsp;&nbsp; (1.29)<br>| &nbsp;&nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp;&nbsp; (1.22)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (1.76)<br>| &nbsp;&nbsp;&nbsp; (1.29)<br>| &nbsp;&nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp;&nbsp; (1.22)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $48.02 | &nbsp;&nbsp;&nbsp; $46.22 | &nbsp;&nbsp;&nbsp; $45.92 | &nbsp;&nbsp;&nbsp; $50.73 | &nbsp;&nbsp;&nbsp; $51.38 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 7.81<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.47<br> %<br>| &nbsp;&nbsp;&nbsp; (7.86 )%<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.22<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>|
| Total expenses after fees waived | 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>|
| Net investment income | 3.75<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.78<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.75<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.64<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.32<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $4090994 | &nbsp;&nbsp;&nbsp; $4044111 | &nbsp;&nbsp;&nbsp; $5060734 | &nbsp;&nbsp;&nbsp; $6235133 | &nbsp;&nbsp;&nbsp; $4700991 |
| Portfolio turnover rate<sup>(g)(h)</sup> | &nbsp;&nbsp; 39<br> %<br>| &nbsp;&nbsp;&nbsp; 38<br> %<br>| &nbsp;&nbsp;&nbsp; 60<br> %<br>| &nbsp;&nbsp;&nbsp; 82<br> %<br>| &nbsp;&nbsp;&nbsp; 77<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |
| <sup>(h)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(h)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(h)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(h)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(h)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(h)</sup> Includes mortgage dollar roll transactions ("MDRs"). |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Core International Aggregate Bond ETF  | iShares Core International Aggregate Bond ETF  | iShares Core International Aggregate Bond ETF  | iShares Core International Aggregate Bond ETF  | iShares Core International Aggregate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $48.70 | &nbsp;&nbsp;&nbsp; $48.72 | &nbsp;&nbsp;&nbsp; $54.84 | &nbsp;&nbsp;&nbsp; $55.77 | &nbsp;&nbsp;&nbsp; $55.23 |
| Net investment income<sup>(a)</sup> | 1.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.55 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 3.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp; (6.12)<br>| &nbsp;&nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.17 |
| Net increase (decrease) from investment operations | 4.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp; (5.49)<br>| &nbsp;&nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.72 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.77)<br>| &nbsp;&nbsp;&nbsp; (1.08)<br>| &nbsp;&nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp;&nbsp; (0.46)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.01)<br>|
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.71)<br>|
| Total distributions | &nbsp;&nbsp; (1.77)<br>| &nbsp;&nbsp;&nbsp; (1.08)<br>| &nbsp;&nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp;&nbsp; (1.18)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $51.53 | &nbsp;&nbsp;&nbsp; $48.70 | &nbsp;&nbsp;&nbsp; $48.72 | &nbsp;&nbsp;&nbsp; $54.84 | &nbsp;&nbsp;&nbsp; $55.77 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 9.61<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.19<br> %<br>| &nbsp;&nbsp;&nbsp; (10.05)%<br>| &nbsp;&nbsp;&nbsp; (1.52)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.16 %<sup>(e)</sup><br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| Net investment income | 2.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.87<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.21<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.99<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $6979830 | &nbsp;&nbsp;&nbsp; $4763137 | &nbsp;&nbsp;&nbsp; $3678514 | &nbsp;&nbsp;&nbsp; $3887844 | &nbsp;&nbsp;&nbsp; $3228915 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>| &nbsp;&nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 36<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> Core 1-5 Year USD Bond Diversified <br> Core International Aggregate Bond Non-diversified

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed (the "trade dates"). Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, and payment-in-kind interest are recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** Certain Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of October 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

Certain Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

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*Notes to Financial Statements* (continued)

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Forward foreign currency exchange contracts are valued at the mean between the bid and ask prices and are determined as of the close of trading on the New York Stock Exchange ("NYSE") based on that day's prevailing forward exchange rate for the underlying currencies.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies

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*Notes to Financial Statements* (continued)

or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.

***4. SECURITIES AND OTHER INVESTMENTS***

**Asset-Backed and Mortgage-Backed Securities:** Asset-backed securities are generally issued as pass-through certificates or as debt instruments. Asset-backed securities issued as pass-through certificates represent undivided fractional ownership interests in an underlying pool of assets. Asset-backed securities issued as debt instruments, which are also known as collateralized obligations, are typically issued as the debt of a special purpose entity organized solely for the purpose of owning such assets and issuing such debt. Asset-backed securities are often backed by a pool of assets representing the obligations of a number of different parties. The yield characteristics of certain asset-backed securities may differ from traditional debt securities. One such major difference is that all or a principal part of the obligations may be prepaid at any time because the underlying assets (i.e., loans) may be prepaid at any time. As a result, a decrease in interest rates in the market may result in increases in the level of prepayments as borrowers, particularly mortgagors, refinance and repay their loans. An increased prepayment rate with respect to an asset-backed security will have the effect of shortening the maturity of the security. In addition, a fund may subsequently have to reinvest the proceeds at lower interest rates. If a fund has purchased such an asset-backed security at a premium, a faster than anticipated prepayment rate could result in a loss of principal to the extent of the premium paid.

For mortgage pass-through securities (the "Mortgage Assets") there are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. For example, mortgage-related securities guaranteed by Ginnie Mae are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. However, mortgage-related securities issued by Freddie Mac and Fannie Mae, including Freddie Mac and Fannie Mae guaranteed mortgage pass-through certificates, which are solely the obligations of Freddie Mac and Fannie Mae, are not backed by or entitled to the full faith and credit of the United States, but are supported by the right of the issuer to borrow from the U.S. Treasury.

Non-agency mortgage-backed securities are securities issued by non-governmental issuers and have no direct or indirect government guarantees of payment and are subject to various risks. Non-agency mortgage loans are obligations of the borrowers thereunder only and are not typically insured or guaranteed by any other person or entity. The ability of a borrower to repay a loan is dependent upon the income or assets of the borrower. A number of factors, including a general economic downturn, acts of God, terrorism, social unrest and civil disturbances, may impair a borrower's ability to repay its loans.

**Zero-Coupon Bonds:** Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.

**TBA Commitments:** TBA commitments are forward agreements for the purchase or sale of securities, including mortgage-backed securities for a fixed price, with payment and delivery on an agreed upon future settlement date. The specific securities to be delivered are not identified at the trade date. However, delivered securities must meet specified terms, including issuer, rate and mortgage terms. When entering into TBA commitments, a fund may take possession of or deliver the underlying mortgage-backed securities but can extend the settlement or roll the transaction. TBA commitments involve a risk of loss if the value of the security to be purchased or sold declines or increases, respectively, prior to settlement date, if there are expenses or delays in connection with the TBA transactions, or if the counterparty fails to complete the transaction.

To mitigate counterparty risk, a fund enters into a two-way collateral agreement for TBA transactions with certain counterparties. Under such agreement, the "in-the-money" party of a TBA transaction may at any time require the other party to pledge collateral assets (in the form of cash or securities) to offset any loss the in-the-money party would incur upon cancellation of the TBA transaction. A party is in-the-money if they are the buyer and the market value of the TBA transaction increases or if they are the seller and the market value of the TBA transaction decreases. Cash collateral received from the counterparty may be reinvested in money market funds, including those managed by the Funds' investment adviser, or its affiliates. Such collateral, if any, is noted in the Schedule of Investments and the obligation to return the collateral is presented as a liability in the Statements of Assets and Liabilities. Securities pledged as collateral by a fund, if any, are noted in the Schedule of Investments.

**Mortgage Dollar Roll Transactions:** The Funds may sell TBA mortgage-backed securities and simultaneously contract to repurchase substantially similar (i.e., same type, coupon and maturity) securities on a specific future date at an agreed upon price. During the period between the sale and repurchase, a fund is not entitled to receive interest and principal payments on the securities sold. Mortgage dollar roll transactions are treated as purchases and sales and a fund realizes gains and losses on these transactions. Mortgage dollar rolls involve the risk that the market value of the securities that a fund is required to purchase may decline below the agreed upon repurchase price of those securities.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of

Notes to Financial Statements

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*Notes to Financial Statements* (continued)

borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

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| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| Core 1-5 Year USD Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $4475673 | &nbsp;&nbsp;&nbsp; $(4475673) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 187819 | &nbsp;&nbsp;&nbsp; (187819) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 232305 | &nbsp;&nbsp;&nbsp; (232305) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 2483105 | &nbsp;&nbsp;&nbsp; (2483105) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 2846270 | &nbsp;&nbsp;&nbsp; (2785949) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 60321<sup>(b)</sup> <br>|
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 2020508 | &nbsp;&nbsp;&nbsp; (2020508) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 818540 | &nbsp;&nbsp;&nbsp; (818540) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 4887273 | &nbsp;&nbsp;&nbsp; (4887273) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 67135 | &nbsp;&nbsp;&nbsp; (67135) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 7427817 | &nbsp;&nbsp;&nbsp; (7427817) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 1896818 | &nbsp;&nbsp;&nbsp; (1896818) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 4492348 | &nbsp;&nbsp;&nbsp; (4492348) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 265137 | &nbsp;&nbsp;&nbsp; (265137) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 938178 | &nbsp;&nbsp;&nbsp; (938178) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 618906 | &nbsp;&nbsp;&nbsp; (598270) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20636 |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 128536 | &nbsp;&nbsp;&nbsp; (128536) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 538791 | &nbsp;&nbsp;&nbsp; (538791) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 756327 | &nbsp;&nbsp;&nbsp; (756327) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 954838 | &nbsp;&nbsp;&nbsp; (954838) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $36036324 | &nbsp;&nbsp;&nbsp; $(35955367) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $80957 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

<sup>(b)</sup> The market value of the loaned securities is determined as of October 31, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Forward Foreign Currency Exchange Contracts:** Forward foreign currency exchange contracts are entered into to gain or reduce exposure to foreign currencies (foreign currency exchange rate risk).

A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a specified date. These contracts help to manage the overall exposure to the currencies in which some of the investments held by the Funds are denominated and in some cases, may be used to obtain exposure to a particular market.The contracts are traded over-the-counter ("OTC") and not on an organized exchange.

The contract is marked-to-market daily and the change in market value is recorded as unrealized appreciation or depreciation in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the value at the time it was opened and the value at the time it was closed. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency. The use of forward foreign currency exchange contracts involves the risk that the value of a contract changes unfavorably due to movements in the value of the

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*Notes to Financial Statements* (continued)

referenced foreign currencies, and such value may exceed the amount(s) reflected in the Statements of Assets and Liabilities. Cash amounts pledged for forward foreign currency exchange contracts are considered restricted and are included in cash pledged as collateral for OTC derivatives in the Statements of Assets and Liabilities. A fund's risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Fund.

**Master Netting Arrangements:** In order to define its contractual rights and to secure rights that will help mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement ("ISDA Master Agreement") or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs certain OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency, or other events.

For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement, and comparing that amount to the value of any collateral currently pledged by a fund and the counterparty.

Cash collateral that has been pledged to cover obligations of the Funds and cash collateral received from the counterparty, if any, is reported separately in the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by the Funds, if any, is noted in the Schedules of Investments. Generally, the amount of collateral due from or to a counterparty is subject to a certain minimum transfer amount threshold before a transfer is required, which is determined at the close of business of the Funds. Any additional required collateral is delivered to/pledged by the Funds on the next business day. Typically, the counterparty is not permitted to sell, re-pledge or use cash and non-cash collateral it receives. A fund generally agrees not to use non-cash collateral that it receives but may, absent default or certain other circumstances defined in the underlying ISDA Master Agreement, be permitted to use cash collateral received. In such cases, interest may be paid pursuant to the collateral arrangement with the counterparty. To the extent amounts due to the Funds from the counterparty are not fully collateralized, each Fund bears the risk of loss from counterparty non-performance. Likewise, to the extent the Funds have delivered collateral to a counterparty and stand ready to perform under the terms of their agreement with such counterparty, each Fund bears the risk of loss from a counterparty in the amount of the value of the collateral in the event the counterparty fails to return such collateral. Based on the terms of agreements, collateral may not be required for all derivative contracts.

For financial reporting purposes, each Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements, if any, in the Statements of Assets and Liabilities.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

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| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| Core 1-5 Year USD Bond | 0.06% |
| Core International Aggregate Bond | 0.07 |

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**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statements of Operations does not include acquired fund fees and expenses.

For the iShares Core 1-5 Year USD Bond ETF, BFA has contractually agreed to waive a portion of its investment advisory fees for the Fund through February 28, 2029 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investments in other registered investment companies advised by BFA or its affiliates.

This amount is included in investment advisory fees waived in the Statement of Operations. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

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| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $22058 |

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**Sub-Adviser:** BFA has entered into separate sub-advisory agreements with BlackRock International Limited and BlackRock (Singapore) Limited (together, the "Sub-Advisers"), both affiliates of BFA, under which BFA pays each of the Sub-Advisers for services it provides to the iShares Core International Aggregate Bond ETF.

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

Notes to Financial Statements

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*Notes to Financial Statements* (continued)

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 08, 2024 (date of conversion for iShares Core International Aggregate Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

Prior to January 26, 2024 (date of conversion for iShares Core 1-5 Year USD Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $90092 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***7. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, including mortgage dollar rolls and excluding short-term securities and in-kind transactions, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *U.S. Government Securities* | *U.S. Government Securities* | *Other Securities* | *Other Securities* |
| *iShares ETF* | &nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* | &nbsp;&nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* |
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $1054669440 | &nbsp;&nbsp;&nbsp; $986016229 | &nbsp;&nbsp;&nbsp; $537158190 | &nbsp;&nbsp;&nbsp; $623072410 |
| Core International Aggregate Bond | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2030640346 | &nbsp;&nbsp;&nbsp; 1173689373 |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $411469006 | &nbsp;&nbsp;&nbsp; $520783431 |
| Core International Aggregate Bond | &nbsp;&nbsp; 1004106872 | &nbsp;&nbsp;&nbsp; 18216943 |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $(6278976) | &nbsp;&nbsp;&nbsp; $6278976 |
| Core International Aggregate Bond | &nbsp;&nbsp; (1504975) | &nbsp;&nbsp;&nbsp; 1504975 |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| Core 1-5 Year USD Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $152406116 | &nbsp;&nbsp;&nbsp; $129169868 |
| Core International Aggregate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $191570999 | &nbsp;&nbsp;&nbsp; $90752615 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $14029573 | &nbsp;&nbsp;&nbsp; $(162180953) | &nbsp;&nbsp;&nbsp; $(49635057) | &nbsp;&nbsp;&nbsp; $(197786437) |
| Core International Aggregate Bond | &nbsp;&nbsp; 265811884 | &nbsp;&nbsp;&nbsp; (92340887) | &nbsp;&nbsp;&nbsp; (215185372) | &nbsp;&nbsp;&nbsp; (41714375) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, amortization methods for premiums and discounts on fixed income securities, the classification of investments, the hedging transactions, the accrual of income on securities in default and TBA transactions. 

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $4157248705 | &nbsp;&nbsp;&nbsp; $25338734 | &nbsp;&nbsp;&nbsp; $(74973997) | &nbsp;&nbsp;&nbsp; $(49635263) |
| Core International Aggregate Bond | &nbsp;&nbsp; 7307735081 | &nbsp;&nbsp;&nbsp; 341648971 | &nbsp;&nbsp;&nbsp; (556189391) | &nbsp;&nbsp;&nbsp; (214540420) |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***9. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer's ability to make payments of principal and/or interest or otherwise affect the value of such securities. Municipal securities can be significantly affected by political or economic changes, including changes made in the law after issuance of the securities, as well as uncertainties in the municipal market related to, taxation, legislative changes or the rights of municipal security holders, including in connection with an issuer insolvency. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the tax benefits supporting the project or assets or the inability to collect revenues for the project or from the assets. Municipal securities may be less liquid than taxable bonds, and there may be less publicly available information on the financial condition of municipal security issuers than for issuers of other securities.

The iShares Core International Aggregate Bond ETF may invest directly in the domestic bond market in the People's Republic of China ("China" or the "PRC") (the "China Interbank Bond Market") through the northbound trading of Bond Connect ("Bond Connect"). The Fund may be exposed to additional risks when investing in the China Interbank Bond Market, such as (i) low or nonexistent trading volume, resulting in a lack of liquidity and increased volatility in prices for such securities; (ii) political and economic instability, and regulatory and tax risks (iii) potential delays and disruptions in the functionality of the newly developed trading platforms and operational systems, or the potential that Bond Connect ceases to operate; (iv) settlement and custody risks due to the link between the offshore custody agent and onshore custodians and clearing institutions; and (v) currency risk. In such event, there is no assurance that the Fund will achieve its investment objective.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

Certain Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which certain Funds invest.

Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***10. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Core 1-5 Year USD Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 9400000 | &nbsp;&nbsp;&nbsp; $446849868 | &nbsp;&nbsp;&nbsp; 10700000 | &nbsp;&nbsp;&nbsp; $499088165 |
| Shares redeemed | &nbsp;&nbsp; (11700000)<br>| &nbsp;&nbsp;&nbsp; (556172389)<br>| &nbsp;&nbsp;&nbsp; (33400000)<br>| &nbsp;&nbsp;&nbsp; (1560734237)<br>|
|  | &nbsp;&nbsp; (2300000)<br>| &nbsp;&nbsp;&nbsp; $(109322521)<br>| &nbsp;&nbsp;&nbsp; (22700000)<br>| &nbsp;&nbsp;&nbsp; $(1061646072)<br>|

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> 10/31/24 | Year Ended<br> 10/31/24 | Year Ended<br> 10/31/23 | Year Ended<br> 10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Core International Aggregate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 38050000 | &nbsp;&nbsp;&nbsp; $1913265631 | &nbsp;&nbsp;&nbsp; 25700000 | &nbsp;&nbsp;&nbsp; $1259372289 |
| Shares redeemed | &nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; (19590867)<br>| &nbsp;&nbsp;&nbsp; (3400000)<br>| &nbsp;&nbsp;&nbsp; (165539507)<br>|
|  | &nbsp;&nbsp; 37650000 | &nbsp;&nbsp;&nbsp; $1893674764 | &nbsp;&nbsp;&nbsp; 22300000 | &nbsp;&nbsp;&nbsp; $1093832782 |

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***11. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements and Additional Information

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the two funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (two of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations for the year ended October 31, 2024, the statements of changes in net assets for each of the two years in the period ended October 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2024 and each of the financial highlights for each of the five years in the period ended October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

iShares Core 1-5 Year USD Bond ETF <br> iShares Core International Aggregate Bond ETF

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The Fund intends to pass through to its shareholders the following amount, or maximum amount allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended October 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| Core International Aggregate Bond | &nbsp;&nbsp; $139248422 | &nbsp;&nbsp;&nbsp;&nbsp; $415896 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $68005370 |
| Core International Aggregate Bond | &nbsp;&nbsp; 198299 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $153309306 |
| Core International Aggregate Bond | &nbsp;&nbsp; 140405671 |

---

The Funds hereby designate the following amount(s), or maximum amount(s) allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| Core 1-5 Year USD Bond | &nbsp;&nbsp; $124369969 |
| Core International Aggregate Bond | &nbsp;&nbsp; 4363966 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares Core 1-5 Year USD Bond ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares Core International Aggregate Bond ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement"), and the Sub-Advisory Agreement between BFA and BlackRock International Limited & BlackRock (Singapore) Limited, (together the "Advisory Agreements"), on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreements. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreements for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreements for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA and BlackRock International Limited & BlackRock (Singapore) Limited; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreements are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds. The Board further noted that BFA pays BlackRock International Limited & BlackRock (Singapore) Limited for sub-advisory services, and that there are no additional fees imposed on the Fund in respect of the services provided under the Sub-Advisory Agreement(s).

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA and BlackRock International Limited & BlackRock (Singapore) Limited under the Advisory Agreements for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, including those of the Sub-Advisor(s), as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding investment performance, investment and risk management processes and strategies for BFA and BlackRock International Limited & BlackRock (Singapore) Limited, which were provided at the May 6, 2024 meeting and throughout the year and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreements supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreements and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including the actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreements for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreements for the coming year.

2024 iShares Annual Financial Statements and Additional Information

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNY | Chinese Yuan |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peru Nuevo Sol |
| PLN | Polish Zloty |
| RON | Romanian Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| USD | United States Dollar |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CJSC | Closed Joint Stock Company |
| CMT | Constant Maturity Treasury |
| CPI | Consumer Price Index |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation |
| JSC | Joint Stock Company |
| LIBOR | London Interbank Offered Rate |
| NVS | Non-Voting Shares |
| PIK | Payment-in-kind |
| PJSC | Public Joint Stock Company |
| RB | Revenue Bond |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Interbank Average Rate |

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Glossary of Terms Used in this Report

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services, Limited, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

![](g938995img09ed69701.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **iShares Trust** |
| • iShares U.S. Fixed Income Balanced Risk Systematic ETF \| FIBR \| Cboe BZX Exchange |

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**Table of Contents**

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| | |
|:---|:---|
|  | Page |
| [Schedule of Investments](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statement of Assets and Liabilities](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 17 |
| [Statement of Operations](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 18 |
| [Statements of Changes in Net Assets](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 19 |
| [Financial Highlights](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 20 |
| [Notes to Financial Statements](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 21 |
| [Report of Independent Registered Public Accounting Firm](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 29 |
| [Important Tax Information](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 30 |
| [Additional Information](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_SAI-Footer-iSharesReport-320_1)  | &nbsp;&nbsp; 31 |
| [Board Review and Approval of Investment Advisory Contract](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 32 |
| [Glossary of Terms Used in this Report](#xx_ccce59e8-7de0-4c73-8bed-bffcd56f3edb_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 35 |

---

------

Schedule of Investments

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| Advantage Sales & Marketing Inc., 6.50%, <br> 11/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; $84 | &nbsp;&nbsp; $78638 |
| Neptune Bidco U.S. Inc., 9.29%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 25248 |
|  |  | &nbsp;&nbsp; 103886 |
| **Aerospace & Defense — 1.4%** | **Aerospace & Defense — 1.4%** | **Aerospace & Defense — 1.4%** |
| Boeing Co. (The) |  |  |
| 2.20%, 02/04/26 | &nbsp;&nbsp; 185 | &nbsp;&nbsp; 178196 |
| 6.30%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25901 |
| 6.53%, 05/01/34<sup>(a)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 31627 |
| General Dynamics Corp., 3.63%, 04/01/30 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47618 |
| Hexcel Corp., 4.20%, 02/15/27 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 78021 |
| Lockheed Martin Corp. |  |  |
| 1.85%, 06/15/30 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 86275 |
| 3.90%, 06/15/32 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 108587 |
| 5.25%, 01/15/33<sup>(b)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 154434 |
| RTX Corp., 6.00%, 03/15/31 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10589 |
| Spirit AeroSystems Inc. |  |  |
| 9.38%, 11/30/29<sup>(a)</sup> | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 28018 |
| 9.75%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 56647 |
| TransDigm Inc. |  |  |
| 4.88%, 05/01/29 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 10491 |
| 6.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15226 |
| 6.75%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 114 | &nbsp;&nbsp; 116561 |
| 6.88%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 27701 |
|  |  | &nbsp;&nbsp; 975892 |
| **Agriculture — 1.8%** | **Agriculture — 1.8%** | **Agriculture — 1.8%** |
| Altria Group Inc. |  |  |
| 2.45%, 02/04/32 | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 265716 |
| 4.40%, 02/14/26 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 54729 |
| 6.20%, 11/01/28 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 115056 |
| 6.88%, 11/01/33 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 65897 |
| BAT Capital Corp. |  |  |
| 2.26%, 03/25/28 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 64219 |
| 6.00%, 02/20/34 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10333 |
| 6.34%, 08/02/30 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 63292 |
| 6.42%, 08/02/33 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 31923 |
| Philip Morris International Inc. |  |  |
| 1.75%, 11/01/30 | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 284301 |
| 5.25%, 02/13/34 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40140 |
| 5.38%, 02/15/33 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40536 |
| 5.50%, 09/07/30 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 41168 |
| 5.75%, 11/17/32 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 156305 |
|  |  | &nbsp;&nbsp; 1233615 |
| **Airlines — 0.8%** | **Airlines — 0.8%** | **Airlines — 0.8%** |
| American Airlines Inc. |  |  |
| 7.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 66077 |
| 8.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 70247 |
| American Airlines Inc./AAdvantage Loyalty IP Ltd. |  |  |
| 5.50%, 04/20/26<sup>(a)</sup> | &nbsp;&nbsp; 134 | &nbsp;&nbsp; 133170 |
| 5.75%, 04/20/29<sup>(a)</sup> | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 104956 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(a)</sup><br>| &nbsp;&nbsp; 135 | &nbsp;&nbsp; 140170 |
| United Airlines Inc., 4.38%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 41265 |
| VistaJet Malta Finance PLC/Vista Management <br> Holding Inc., 9.50%, 06/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 19 | &nbsp;&nbsp; 18664 |
|  |  | &nbsp;&nbsp; 574549 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| Tapestry Inc. |  |  |
| 3.05%, 03/15/32<sup>(b)</sup> | &nbsp;&nbsp; $130 | &nbsp;&nbsp; $109740 |
| 7.35%, 11/27/28 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15296 |
| Wolverine World Wide Inc., 4.00%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 8549 |
|  |  | &nbsp;&nbsp; 133585 |
| **Auto Manufacturers — 1.7%** | **Auto Manufacturers — 1.7%** | **Auto Manufacturers — 1.7%** |
| Aston Martin Capital Holdings Ltd., 10.00%, <br> 03/31/29<sup>(a)</sup><br>| &nbsp;&nbsp; 78 | &nbsp;&nbsp; 75746 |
| Ford Motor Credit Co. LLC, 5.85%, 05/17/27 | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 403768 |
| General Motors Financial Co. Inc. |  |  |
| 2.40%, 04/10/28 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 137523 |
| 2.40%, 10/15/28 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 90368 |
| 3.80%, 04/07/25 | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 94451 |
| 5.80%, 01/07/29 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40917 |
| Jaguar Land Rover Automotive PLC, 5.88%, <br> 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19783 |
| JB Poindexter & Co. Inc., 8.75%, 12/15/31<sup>(a)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 31489 |
| Toyota Motor Credit Corp., 1.90%, 01/13/27 | &nbsp;&nbsp; 330 | &nbsp;&nbsp; 312519 |
|  |  | &nbsp;&nbsp; 1206564 |
| **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** |
| Garrett Motion Holdings Inc./Garrett LX I SARL, <br> 7.75%, 05/31/32<sup>(a)</sup><br>| &nbsp;&nbsp; 86 | &nbsp;&nbsp; 85808 |
| IHO Verwaltungs GmbH, 6.38%, 05/15/29, <br> (6.38% cash)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14504 |
| Lear Corp., 3.80%, 09/15/27 | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 32015 |
| Phinia Inc. |  |  |
| 6.63%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 20945 |
| 6.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51122 |
| Tenneco Inc., 8.00%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 14805 |
| ZF North America Capital Inc., 7.13%, 04/14/30<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20084 |
|  |  | &nbsp;&nbsp; 239283 |
| **Banks — 19.6%** | **Banks — 19.6%** | **Banks — 19.6%** |
| Banco Santander SA |  |  |
| 1.72%, 09/14/27, (1-year CMT + 0.900%)<sup>(d)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 188210 |
| 6.92%, 08/08/33 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 215231 |
| Bank of America Corp. |  |  |
| 1.32%, 06/19/26, (1-day SOFR + 1.150%)<sup>(d)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 195333 |
| 1.73%, 07/22/27, (1-day SOFR + 0.960%)<sup>(d)</sup> | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 426963 |
| 2.50%, 02/13/31, <br> (3-mo. CME Term SOFR + 1.252%)<sup>(d)</sup><br>| &nbsp;&nbsp; 125 | &nbsp;&nbsp; 110480 |
| 2.55%, 02/04/28, (1-day SOFR + 1.050%)<sup>(d)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9513 |
| 2.69%, 04/22/32, (1-day SOFR + 1.320%)<sup>(d)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 195129 |
| 3.56%, 04/23/27, <br> (3-mo. CME Term SOFR + 1.322%)<sup>(d)</sup><br>| &nbsp;&nbsp; 150 | &nbsp;&nbsp; 147291 |
| 4.25%, 10/22/26 | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 178276 |
| 4.57%, 04/27/33, (1-day SOFR + 1.830%)<sup>(d)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 48123 |
| 4.95%, 07/22/28, (1-day SOFR + 2.040%)<sup>(d)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35138 |
| 5.47%, 01/23/35, (1-day SOFR + 1.650%)<sup>(d)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 45669 |
| 6.20%, 11/10/28, (1-day SOFR + 1.990%)<sup>(d)</sup> | &nbsp;&nbsp; 175 | &nbsp;&nbsp; 181850 |
| Bank of Montreal |  |  |
| 1.25%, 09/15/26 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 56397 |
| Series H, 4.70%, 09/14/27 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 100245 |
| Bank of New York Mellon Corp. (The) |  |  |
| 2.05%, 01/26/27<sup>(b)</sup> | &nbsp;&nbsp; 103 | &nbsp;&nbsp; 97784 |
| 4.54%, 02/01/29, (1-day SOFR + 1.169%)<sup>(d)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 39786 |
| 4.60%, 07/26/30, (1-day SOFR + 1.755%)<sup>(d)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 49538 |
| Bank of Nova Scotia (The), 1.05%, 03/02/26 | &nbsp;&nbsp; 295 | &nbsp;&nbsp; 281358 |
| Canadian Imperial Bank of Commerce, 5.62%, <br> 07/17/26<br>| &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101555 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Citigroup Inc. |  |  |
| 1.46%, 06/09/27, (1-day SOFR + 0.770%)<sup>(d)</sup> | &nbsp;&nbsp; $210 | &nbsp;&nbsp; $199206 |
| 2.56%, 05/01/32, (1-day SOFR + 1.167%)<sup>(d)</sup> | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 102630 |
| 3.79%, 03/17/33, (1-day SOFR + 1.939%)<sup>(d)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 27271 |
| 3.89%, 01/10/28, <br> (3-mo. CME Term SOFR + 1.825%)<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | &nbsp;&nbsp; 195917 |
| 3.98%, 03/20/30, <br> (3-mo. CME Term SOFR + 1.600%)<sup>(d)</sup><br>| &nbsp;&nbsp; 150 | &nbsp;&nbsp; 143857 |
| 4.60%, 03/09/26 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 199330 |
| 5.83%, 02/13/35, (1-day SOFR + 2.056%)<sup>(d)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10086 |
| 6.17%, 05/25/34, (1-day SOFR + 2.661%)<sup>(d)</sup> | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 269591 |
| 6.27%, 11/17/33, (1-day SOFR + 2.338%)<sup>(d)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 53241 |
| Fifth Third Bancorp, 1.71%, 11/01/27, <br> (1-day SOFR + 0.685%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51742 |
| Freedom Mortgage Corp. |  |  |
| 7.63%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15056 |
| 12.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10809 |
| 12.25%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 16521 |
| Goldman Sachs Group Inc. (The) |  |  |
| 1.43%, 03/09/27, (1-day SOFR + 0.798%)<sup>(d)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47739 |
| 1.95%, 10/21/27, (1-day SOFR + 0.913%)<sup>(d)</sup> | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 283663 |
| 2.38%, 07/21/32, (1-day SOFR + 1.248%)<sup>(d)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 189709 |
| 2.62%, 04/22/32, (1-day SOFR + 1.281%)<sup>(d)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 38704 |
| 2.65%, 10/21/32, (1-day SOFR + 1.264%)<sup>(d)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 59690 |
| 3.62%, 03/15/28, (1-day SOFR + 1.846%)<sup>(d)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 97222 |
| 5.33%, 07/23/35, (1-day SOFR + 1.550%)<sup>(d)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 34994 |
| 5.85%, 04/25/35, (1-day SOFR + 1.552%)<sup>(d)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51816 |
| HSBC Holdings PLC |  |  |
| 3.00%, 03/10/26, (1-day SOFR + 1.430%)<sup>(d)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 198391 |
| 5.21%, 08/11/28, (1-day SOFR + 2.610%)<sup>(d)</sup> | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 402618 |
| ING Groep NV, 3.87%, 03/28/26, <br> (1-day SOFR + 1.640%)<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | &nbsp;&nbsp; 198867 |
| Intesa Sanpaolo SpA |  |  |
| 4.20%, 06/01/32, (1-year CMT + 2.600%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 125 | &nbsp;&nbsp; 109485 |
| 4.95%, 06/01/42, (1-year CMT + 2.750%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 15480 |
| JPMorgan Chase & Co. |  |  |
| 1.05%, 11/19/26, (1-day SOFR + 0.800%)<sup>(d)</sup> | &nbsp;&nbsp; 315 | &nbsp;&nbsp; 302577 |
| 2.01%, 03/13/26, <br> (3-mo. CME Term SOFR + 1.585%)<sup>(d)</sup><br>| &nbsp;&nbsp; 96 | &nbsp;&nbsp; 94908 |
| 2.08%, 04/22/26, (1-day SOFR + 1.850%)<sup>(d)</sup> | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 48305 |
| 2.60%, 02/24/26, (1-day SOFR + 0.915%)<sup>(d)</sup> | &nbsp;&nbsp; 78 | &nbsp;&nbsp; 77386 |
| 2.95%, 10/01/26 | &nbsp;&nbsp; 151 | &nbsp;&nbsp; 146715 |
| 2.96%, 01/25/33, (1-day SOFR + 1.260%)<sup>(d)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 13104 |
| 4.59%, 04/26/33, (1-day SOFR + 1.800%)<sup>(d)</sup> | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 87408 |
| 4.85%, 07/25/28, (1-day SOFR + 1.990%)<sup>(d)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 225355 |
| 4.91%, 07/25/33, (1-day SOFR + 2.080%)<sup>(d)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 74304 |
| 5.30%, 07/24/29, (1-day SOFR + 1.450%)<sup>(d)</sup> | &nbsp;&nbsp; 355 | &nbsp;&nbsp; 360107 |
| 5.35%, 06/01/34, (1-day SOFR + 1.845%)<sup>(d)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101147 |
| Lloyds Banking Group PLC, 4.72%, 08/11/26, <br> (1-year CMT + 1.750%)<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | &nbsp;&nbsp; 199219 |
| M&T Bank Corp. |  |  |
| 6.08%, 03/13/32, (1-day SOFR + 2.260%)<sup>(d)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51706 |
| 7.41%, 10/30/29, (1-day SOFR + 2.800%)<sup>(d)</sup> | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 177596 |
| Manufacturers & Traders Trust Co., 4.65%, 01/27/26 | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 497950 |
| Mitsubishi UFJ Financial Group Inc., 1.54%, <br> 07/20/27, (1-year CMT + 0.750%)<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | &nbsp;&nbsp; 189371 |
| Morgan Stanley |  |  |
| 2.19%, 04/28/26, (1-day SOFR + 1.990%)<sup>(d)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 108448 |
| 2.24%, 07/21/32, (1-day SOFR + 1.178%)<sup>(d)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 167473 |
| 2.51%, 10/20/32, (1-day SOFR + 1.200%)<sup>(d)</sup> | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 80561 |
| 2.94%, 01/21/33, (1-day SOFR + 1.290%)<sup>(d)</sup> | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 121576 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.13%, 07/27/26 | &nbsp;&nbsp; $85 | &nbsp;&nbsp; $82888 |
| 3.62%, 04/01/31, (1-day SOFR + 3.120%)<sup>(d)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 65471 |
| 3.88%, 01/27/26 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 99095 |
| 4.68%, 07/17/26, (1-day SOFR + 1.669%)<sup>(d)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 109667 |
| 5.25%, 04/21/34, (1-day SOFR + 1.870%)<sup>(d)</sup> | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 145150 |
| 5.95%, 01/19/38, (5-year CMT + 2.430%)<sup>(d)</sup> | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 81339 |
| PNC Financial Services Group Inc. (The) |  |  |
| 3.45%, 04/23/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 94922 |
| 4.63%, 06/06/33, (1-day SOFR Index + 1.850%)<sup>(d)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 57362 |
| 4.76%, 01/26/27, (1-day SOFR Index + 1.085%)<sup>(d)</sup> | &nbsp;&nbsp; 330 | &nbsp;&nbsp; 329711 |
| 5.68%, 01/22/35, (1-day SOFR + 1.902%)<sup>(d)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51337 |
| 5.81%, 06/12/26, (1-day SOFR + 1.322%)<sup>(d)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 65304 |
| 6.04%, 10/28/33, (1-day SOFR Index + 2.140%)<sup>(d)</sup> | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 84061 |
| Royal Bank of Canada |  |  |
| 2.05%, 01/21/27 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 94876 |
| 5.20%, 08/01/28 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 121981 |
| Santander Holdings USA Inc., 6.34%, 05/31/35, <br> (1-day SOFR + 2.138%)<sup>(d)</sup><br>| &nbsp;&nbsp; 64 | &nbsp;&nbsp; 65406 |
| Santander U.K. Group Holdings PLC, 1.53%, <br> 08/21/26, (1-year CMT + 1.250%)<sup>(d)</sup><br>| &nbsp;&nbsp; 200 | &nbsp;&nbsp; 193955 |
| Sumitomo Mitsui Financial Group Inc., 5.56%, <br> 07/09/34<br>| &nbsp;&nbsp; 210 | &nbsp;&nbsp; 215914 |
| Toronto-Dominion Bank (The) |  |  |
| 1.25%, 09/10/26 | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 282169 |
| 4.69%, 09/15/27 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 119805 |
| Truist Financial Corp. |  |  |
| 1.27%, 03/02/27, (1-day SOFR + 0.609%)<sup>(d)</sup> | &nbsp;&nbsp; 292 | &nbsp;&nbsp; 278408 |
| 5.12%, 01/26/34, (1-day SOFR + 1.852%)<sup>(d)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 107793 |
| 5.87%, 06/08/34, (1-day SOFR + 2.361%)<sup>(d)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 61706 |
| U.S. Bancorp |  |  |
| 4.55%, 07/22/28, (1-day SOFR + 1.660%)<sup>(d)</sup> | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 163962 |
| 5.78%, 06/12/29, (1-day SOFR + 2.020%)<sup>(d)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 77138 |
| Series X, 3.15%, 04/27/27 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 96827 |
| UniCredit SpA |  |  |
| 5.46%, 06/30/35, (5-year CMT + 4.750%)<sup>(a)(d)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 24122 |
| 5.86%, 06/19/32, <br> (5-year USD ICE Swap + 3.703%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 125 | &nbsp;&nbsp; 124464 |
| 7.30%, 04/02/34, <br> (5-year USD ICE Swap + 4.914%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 150 | &nbsp;&nbsp; 156865 |
| Wells Fargo & Co. |  |  |
| 3.20%, 06/17/27, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(d)</sup><br>| &nbsp;&nbsp; 540 | &nbsp;&nbsp; 526559 |
| 3.91%, 04/25/26, (1-day SOFR + 1.320%)<sup>(d)</sup> | &nbsp;&nbsp; 295 | &nbsp;&nbsp; 293242 |
| 4.54%, 08/15/26, (1-day SOFR + 1.560%)<sup>(d)</sup> | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 249004 |
| 5.39%, 04/24/34, (1-day SOFR + 2.020%)<sup>(d)</sup> | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 55380 |
| 5.50%, 01/23/35, (1-day SOFR + 1.780%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 152199 |
| 5.56%, 07/25/34, (1-day SOFR + 1.990%)<sup>(d)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101740 |
| Western Alliance Bancorp, 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.250%)<sup>(d)</sup><br>| &nbsp;&nbsp; 24 | &nbsp;&nbsp; 22237 |
|  |  | &nbsp;&nbsp; 13704779 |
| **Beverages — 1.3%** | **Beverages — 1.3%** | **Beverages — 1.3%** |
| Coca-Cola Co. (The), 5.00%, 05/13/34 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 81103 |
| Coca-Cola Femsa SAB de CV, 2.75%, 01/22/30 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 180683 |
| Constellation Brands Inc. |  |  |
| 2.25%, 08/01/31 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 92648 |
| 2.88%, 05/01/30 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 44925 |
| 3.70%, 12/06/26<sup>(b)</sup> | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 83300 |
| 4.35%, 05/09/27 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 49535 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| Diageo Capital PLC |  |  |
| 2.13%, 04/29/32 | &nbsp;&nbsp; $200 | &nbsp;&nbsp; $165763 |
| 5.30%, 10/24/27 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 204844 |
|  |  | &nbsp;&nbsp; 902801 |
| **Biotechnology — 0.8%** | **Biotechnology — 0.8%** | **Biotechnology — 0.8%** |
| Amgen Inc., 5.15%, 03/02/28 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 202774 |
| Biogen Inc., 4.05%, 09/15/25 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 148910 |
| Regeneron Pharmaceuticals Inc., 1.75%, 09/15/30 | &nbsp;&nbsp; 220 | &nbsp;&nbsp; 184750 |
|  |  | &nbsp;&nbsp; 536434 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| AmeriTex HoldCo Intermediate LLC, 10.25%, <br> 10/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10526 |
| Builders FirstSource Inc. |  |  |
| 6.38%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40283 |
| 6.38%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20143 |
| Eagle Materials Inc., 2.50%, 07/01/31 | &nbsp;&nbsp; 93 | &nbsp;&nbsp; 80359 |
| Eco Material Technologies Inc., 7.88%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15099 |
| Smyrna Ready Mix Concrete LLC |  |  |
| 6.00%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 47 | &nbsp;&nbsp; 46641 |
| 8.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 36783 |
| Standard Industries Inc./New York, 4.75%, <br> 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 35 | &nbsp;&nbsp; 33752 |
| Summit Materials LLC/Summit Materials Finance <br> Corp., 7.25%, 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 57 | &nbsp;&nbsp; 59260 |
|  |  | &nbsp;&nbsp; 342846 |
| **Chemicals — 0.5%** | **Chemicals — 0.5%** | **Chemicals — 0.5%** |
| CVR Partners LP/CVR Nitrogen Finance Corp., <br> 6.13%, 06/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 45915 |
| Eastman Chemical Co., 5.63%, 02/20/34 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 111090 |
| INEOS Finance PLC, 7.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 32034 |
| LYB International Finance II BV, 3.50%, 03/02/27 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 38841 |
| PPG Industries Inc., 1.20%, 03/15/26 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 95246 |
| Rain Carbon Inc., 12.25%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 17040 |
| SK Invictus Intermediate II SARL, 5.00%, 10/30/29<sup>(a)</sup> | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 13263 |
| WR Grace Holdings LLC, 7.38%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12387 |
|  |  | &nbsp;&nbsp; 365816 |
| **Coal — 0.1%** | **Coal — 0.1%** | **Coal — 0.1%** |
| Coronado Finance Pty Ltd., 9.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 33755 |
| SunCoke Energy Inc., 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9030 |
|  |  | &nbsp;&nbsp; 42785 |
| **Commercial Services — 2.1%** | **Commercial Services — 2.1%** | **Commercial Services — 2.1%** |
| Adtalem Global Education Inc., 5.50%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 63707 |
| Albion Financing 1 SARL/Aggreko Holdings Inc., <br> 6.13%, 10/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 24 | &nbsp;&nbsp; 24028 |
| Allied Universal Holdco LLC/Allied Universal Finance <br> Corp., 9.75%, 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 47 | &nbsp;&nbsp; 47104 |
| Boost Newco Borrower LLC, 7.50%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 36906 |
| Cintas Corp. No. 2 |  |  |
| 3.70%, 04/01/27 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 13751 |
| 4.00%, 05/01/32 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 56931 |
| CoreCivic Inc., 8.25%, 04/15/29 | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 43113 |
| Equifax Inc., 4.80%, 09/15/29 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 54480 |
| EquipmentShare.com Inc., 9.00%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10344 |
| GEO Group Inc. (The) |  |  |
| 8.63%, 04/15/29 | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 60649 |
| 10.25%, 04/15/31 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 60031 |
| Global Payments Inc., 1.20%, 03/01/26 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 95393 |
| Mavis Tire Express Services Topco Corp., 6.50%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 10534 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc., 6.25%, 01/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $39 | &nbsp;&nbsp; $38961 |
| PROG Holdings Inc., 6.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 65895 |
| Quanta Services Inc. |  |  |
| 2.35%, 01/15/32 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 29345 |
| 2.90%, 10/01/30 | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 130355 |
| S&P Global Inc. |  |  |
| 2.90%, 03/01/32 | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 158535 |
| 2.95%, 01/22/27<sup>(b)</sup> | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 101589 |
| Service Corp. International/U.S., 5.75%, 10/15/32 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 34445 |
| TriNet Group Inc., 7.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 26612 |
| Verisk Analytics Inc. |  |  |
| 4.00%, 06/15/25 | &nbsp;&nbsp; 208 | &nbsp;&nbsp; 206715 |
| 5.75%, 04/01/33 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 52303 |
| VT Topco Inc., 8.50%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10522 |
| ZipRecruiter Inc., 5.00%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9037 |
|  |  | &nbsp;&nbsp; 1441285 |
| **Computers — 1.2%** | **Computers — 1.2%** | **Computers — 1.2%** |
| Accenture Capital Inc., 4.50%, 10/04/34 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9666 |
| Amdocs Ltd., 2.54%, 06/15/30 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 122268 |
| Conduent Business Services LLC/Conduent State & <br> Local Solutions Inc., 6.00%, 11/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 25 | &nbsp;&nbsp; 23732 |
| Dell International LLC/EMC Corp., 5.25%, 02/01/28 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101553 |
| Fortinet Inc., 2.20%, 03/15/31 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 12756 |
| International Business Machines Corp. |  |  |
| 1.70%, 05/15/27 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 139813 |
| 4.15%, 07/27/27 | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 267150 |
| Leidos Inc., 2.30%, 02/15/31 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 12783 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 44044 |
| Seagate HDD Cayman |  |  |
| 8.25%, 12/15/29<sup>(b)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 16130 |
| 9.63%, 12/01/32 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 85485 |
|  |  | &nbsp;&nbsp; 835380 |
| **Cosmetics & Personal Care — 0.1%** | **Cosmetics & Personal Care — 0.1%** | **Cosmetics & Personal Care — 0.1%** |
| Colgate-Palmolive Co., 3.25%, 08/15/32 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 81952 |
| **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** |
| WW Grainger Inc., 4.45%, 09/15/34 | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 155087 |
| **Diversified Financial Services — 5.7%** | **Diversified Financial Services — 5.7%** | **Diversified Financial Services — 5.7%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust, 5.10%, 01/19/29<br>| &nbsp;&nbsp; 150 | &nbsp;&nbsp; 150362 |
| Ally Financial Inc. |  |  |
| 6.70%, 02/14/33<sup>(b)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 45115 |
| 6.85%, 01/03/30, (1-day SOFR + 2.282%)<sup>(d)</sup> | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 93544 |
| American Express Co. |  |  |
| 4.05%, 05/03/29 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37177 |
| 5.04%, 05/01/34, (1-day SOFR + 1.835%)<sup>(d)</sup> | &nbsp;&nbsp; 155 | &nbsp;&nbsp; 154600 |
| 5.65%, 04/23/27, (1-day SOFR Index + 0.750%)<sup>(d)</sup> | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 141773 |
| 5.92%, 04/25/35, (1-day SOFR +1.630%)<sup>(d)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 113632 |
| Ameriprise Financial Inc. |  |  |
| 5.15%, 05/15/33 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101051 |
| 5.70%, 12/15/28 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 72932 |
| Blue Owl Finance LLC, 6.25%, 04/18/34<sup>(b)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 61700 |
| Bread Financial Holdings Inc., 9.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 74912 |
| Brookfield Capital Finance LLC, 6.09%, 06/14/33 | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 178262 |
| Brookfield Finance Inc., 4.35%, 04/15/30 | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 126129 |
| Burford Capital Global Finance LLC |  |  |
| 6.25%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19957 |
| 6.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25101 |
| 9.25%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 37574 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Capital One Financial Corp. |  |  |
| 3.27%, 03/01/30, (1-day SOFR + 1.790%)<sup>(d)</sup> | &nbsp;&nbsp; $50 | &nbsp;&nbsp; $46337 |
| 5.46%, 07/26/30, (1-day SOFR +1.560%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25221 |
| 5.82%, 02/01/34, (1-day SOFR + 2.600%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 152058 |
| 6.05%, 02/01/35, (1-day SOFR + 2.260%)<sup>(b)(d)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 41110 |
| 6.31%, 06/08/29, (1-day SOFR + 2.640%)<sup>(d)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 67495 |
| 7.15%, 10/29/27, (1-day SOFR + 2.440%)<sup>(d)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 114755 |
| Cboe Global Markets Inc., 1.63%, 12/15/30 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 66477 |
| Charles Schwab Corp. (The) |  |  |
| 1.15%, 05/13/26 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47465 |
| 2.45%, 03/03/27 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 190350 |
| 5.85%, 05/19/34, (1-day SOFR + 2.500%)<sup>(d)</sup> | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 23930 |
| 5.88%, 08/24/26 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35715 |
| 6.20%, 11/17/29, (1-day SOFR + 1.878%)<sup>(d)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 31485 |
| Coinbase Global Inc. |  |  |
| 3.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 129487 |
| 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 43360 |
| Credit Acceptance Corp., 9.25%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 61484 |
| Encore Capital Group Inc. |  |  |
| 8.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 52711 |
| 9.25%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 53275 |
| Freedom Mortgage Holdings LLC |  |  |
| 9.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15275 |
| 9.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20505 |
| GGAM Finance Ltd., 8.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15498 |
| goeasy Ltd. |  |  |
| 7.63%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15415 |
| 9.25%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 61858 |
| Series 144\*, 6.88%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 23265 |
| Intercontinental Exchange Inc., 1.85%, 09/15/32<sup>(b)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 12024 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, <br> 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 15 | &nbsp;&nbsp; 13846 |
| Jefferies Financial Group Inc., 5.88%, 07/21/28 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35958 |
| Jefferson Capital Holdings LLC, 9.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12768 |
| LD Holdings Group LLC, 8.75%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 51699 |
| Mastercard Inc., 4.55%, 01/15/35<sup>(b)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 48486 |
| Nationstar Mortgage Holdings Inc. |  |  |
| 5.13%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 26234 |
| 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15011 |
| 7.13%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 76692 |
| Nomura Holdings Inc., 1.85%, 07/16/25 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 195493 |
| OneMain Finance Corp. |  |  |
| 4.00%, 09/15/30 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 13203 |
| 5.38%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14368 |
| 6.63%, 05/15/29 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15000 |
| 7.13%, 03/15/26 | &nbsp;&nbsp; 74 | &nbsp;&nbsp; 75813 |
| 7.50%, 05/15/31 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 14315 |
| 7.88%, 03/15/30 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 78040 |
| 9.00%, 01/15/29 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38097 |
| Oxford Finance LLC/Oxford Finance Co-Issuer II Inc., <br> 6.38%, 02/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; 11828 |
| PennyMac Financial Services Inc. |  |  |
| 5.75%, 09/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 33477 |
| 7.13%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15225 |
| 7.88%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 75520 |
| StoneX Group Inc., 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 52629 |
| Synchrony Financial, 7.25%, 02/02/33<sup>(b)</sup> | &nbsp;&nbsp; 113 | &nbsp;&nbsp; 115560 |
| United Wholesale Mortgage LLC |  |  |
| 5.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 148 | &nbsp;&nbsp; 141093 |
| 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 25566 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| VFH Parent LLC / Valor Co-Issuer Inc., 7.50%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; $16 | &nbsp;&nbsp; $16455 |
|  |  | &nbsp;&nbsp; 3992752 |
| **Electric — 5.1%** | **Electric — 5.1%** | **Electric — 5.1%** |
| AES Corp. (The) |  |  |
| 1.38%, 01/15/26 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47889 |
| 2.45%, 01/15/31 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 21045 |
| Alabama Power Co., Series 20-A, 1.45%, 09/15/30<sup>(b)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 41676 |
| Appalachian Power Co. |  |  |
| 4.50%, 08/01/32 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9578 |
| 5.65%, 04/01/34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30669 |
| Arizona Public Service Co. |  |  |
| 2.20%, 12/15/31 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 12406 |
| 5.55%, 08/01/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10132 |
| Berkshire Hathaway Energy Co. |  |  |
| 1.65%, 05/15/31 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 20642 |
| 3.70%, 07/15/30 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47464 |
| Black Hills Corp., 3.95%, 01/15/26 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 49374 |
| Calpine Corp., 5.00%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 70782 |
| CenterPoint Energy Inc. |  |  |
| 2.65%, 06/01/31 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 17335 |
| 5.25%, 08/10/26 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12091 |
| 5.40%, 06/01/29 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10177 |
| Connecticut Light and Power Co. (The), 4.90%, <br> 07/01/33<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19854 |
| Consolidated Edison Co. of New York Inc. |  |  |
| 2.40%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 21710 |
| 5.38%, 05/15/34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30773 |
| Constellation Energy Generation LLC, 5.80%, <br> 03/01/33<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5191 |
| Consumers Energy Co., 3.60%, 08/15/32 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 27522 |
| Dominion Energy Inc. |  |  |
| Series C, 2.25%, 08/15/31 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 29455 |
| Series D, 2.85%, 08/15/26 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 48341 |
| DTE Electric Co., Series A, 1.90%, 04/01/28 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 73271 |
| DTE Energy Co., Series C, 3.40%, 06/15/29 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 18736 |
| Duke Energy Carolinas LLC |  |  |
| 2.95%, 12/01/26 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 97029 |
| 4.95%, 01/15/33 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19921 |
| Duke Energy Corp. |  |  |
| 4.50%, 08/15/32<sup>(b)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9605 |
| 5.75%, 09/15/33 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15566 |
| Duke Energy Florida LLC, 2.40%, 12/15/31 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 34031 |
| Duke Energy Progress LLC, 3.40%, 04/01/32 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 54640 |
| Entergy Corp., 2.40%, 06/15/31 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 68058 |
| Entergy Mississippi LLC, 5.00%, 09/01/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9904 |
| Evergy Kansas Central Inc., 5.90%, 11/15/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10506 |
| Eversource Energy, 2.90%, 03/01/27 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 67090 |
| Exelon Corp. |  |  |
| 3.35%, 03/15/32 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 17996 |
| 3.40%, 04/15/26 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 68682 |
| 5.45%, 03/15/34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30518 |
| Florida Power & Light Co., 2.45%, 02/03/32 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 94070 |
| Georgia Power Co., 4.70%, 05/15/32 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9912 |
| Interstate Power & Light Co., 5.70%, 10/15/33 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20676 |
| Lightning Power LLC, 7.25%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 73898 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 1.00%, 06/15/26 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 23633 |
| 3.70%, 03/15/29 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 38372 |
| 4.15%, 12/15/32<sup>(b)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14228 |
| 5.60%, 11/13/26 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35672 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| NextEra Energy Capital Holdings Inc. |  |  |
| 1.88%, 01/15/27 | &nbsp;&nbsp; $150 | &nbsp;&nbsp; $141095 |
| 3.55%, 05/01/27 | &nbsp;&nbsp; 84 | &nbsp;&nbsp; 81860 |
| 5.25%, 03/15/34 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25126 |
| NRG Energy Inc. |  |  |
| 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12839 |
| 6.25%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9989 |
| 7.00%, 03/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 97526 |
| Oncor Electric Delivery Co. LLC, 4.15%, 06/01/32 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47422 |
| Pacific Gas and Electric Co. |  |  |
| 2.50%, 02/01/31 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 38596 |
| 3.00%, 06/15/28 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51498 |
| 3.15%, 01/01/26 | &nbsp;&nbsp; 220 | &nbsp;&nbsp; 215211 |
| 3.25%, 06/01/31 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 17839 |
| 4.55%, 07/01/30 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 38836 |
| PacifiCorp, 5.30%, 02/15/31 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10137 |
| PECO Energy Co., 4.90%, 06/15/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9963 |
| PPL Capital Funding Inc., 4.13%, 04/15/30 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 28776 |
| Public Service Co. of Colorado, 5.35%, 05/15/34 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20306 |
| Public Service Co. of New Hampshire |  |  |
| 5.35%, 10/01/33<sup>(b)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20591 |
| Series V, 2.20%, 06/15/31 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 16974 |
| Public Service Co. of Oklahoma, Series J, 2.20%, <br> 08/15/31<br>| &nbsp;&nbsp; 60 | &nbsp;&nbsp; 49923 |
| Public Service Electric & Gas Co. |  |  |
| 3.10%, 03/15/32 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 17869 |
| 4.65%, 03/15/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9819 |
| 5.20%, 03/01/34 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 45668 |
| Public Service Enterprise Group Inc., 1.60%, <br> 08/15/30<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 16653 |
| Puget Energy Inc., 2.38%, 06/15/28 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9083 |
| San Diego Gas & Electric Co., Series XXX, 3.00%, <br> 03/15/32<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 17735 |
| Sempra |  |  |
| 3.40%, 02/01/28 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47816 |
| 5.50%, 08/01/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10198 |
| Southern California Edison Co. |  |  |
| 2.75%, 02/01/32 | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 56293 |
| 2.85%, 08/01/29 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 22989 |
| 5.45%, 06/01/31 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 46097 |
| Southern Co. (The) |  |  |
| 5.11%, 08/01/27 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 50336 |
| 5.20%, 06/15/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10039 |
| 5.70%, 10/15/32<sup>(b)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 31313 |
| Southwestern Electric Power Co. |  |  |
| 5.30%, 04/01/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10006 |
| Series N, 1.65%, 03/15/26 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 86339 |
| Talen Energy Supply LLC, 8.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 31283 |
| Union Electric Co. |  |  |
| 2.15%, 03/15/32 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 33287 |
| 2.95%, 06/15/27 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 38355 |
| Virginia Electric & Power Co., Series B, 3.75%, <br> 05/15/27<br>| &nbsp;&nbsp; 130 | &nbsp;&nbsp; 127440 |
| Vistra Operations Co. LLC |  |  |
| 5.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 47873 |
| 6.88%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 155075 |
| 7.75%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 52823 |
| WEC Energy Group Inc., 5.60%, 09/12/26 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25385 |
| Wisconsin Electric Power Co., 4.75%, 09/30/32<sup>(b)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40020 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Xcel Energy Inc. |  |  |
| 1.75%, 03/15/27 | &nbsp;&nbsp; $80 | &nbsp;&nbsp; $74703 |
| 4.60%, 06/01/32 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9591 |
|  |  | &nbsp;&nbsp; 3548715 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Emerson Electric Co., 2.20%, 12/21/31 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 76389 |
| **Electronics — 0.6%** | **Electronics — 0.6%** | **Electronics — 0.6%** |
| Avnet Inc., 4.63%, 04/15/26 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 99306 |
| Honeywell International Inc., 4.50%, 01/15/34 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 58347 |
| Imola Merger Corp., 4.75%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 40843 |
| Jabil Inc. |  |  |
| 1.70%, 04/15/26 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 157330 |
| 5.45%, 02/01/29 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30370 |
| Keysight Technologies Inc., 4.95%, 10/15/34<sup>(b)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 24277 |
|  |  | &nbsp;&nbsp; 410473 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| Brand Industrial Services Inc., 10.38%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 26561 |
| Tutor Perini Corp., 11.88%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 39321 |
|  |  | &nbsp;&nbsp; 65882 |
| **Entertainment — 0.3%** | **Entertainment — 0.3%** | **Entertainment — 0.3%** |
| AMC Entertainment Holdings Inc., 7.50%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 54 | &nbsp;&nbsp; 46617 |
| Churchill Downs Inc., 6.75%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 16286 |
| Lions Gate Capital Holdings 1 Inc., 5.50%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 42 | &nbsp;&nbsp; 37086 |
| Premier Entertainment Sub LLC/Premier <br> Entertainment Finance Corp., 5.63%, 09/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 51 | &nbsp;&nbsp; 36032 |
| Resorts World Las Vegas LLC/RWLV Capital Inc., <br> 8.45%, 07/27/30<sup>(a)</sup><br>| &nbsp;&nbsp; 105 | &nbsp;&nbsp; 108825 |
|  |  | &nbsp;&nbsp; 244846 |
| **Environmental Control — 0.5%** | **Environmental Control — 0.5%** | **Environmental Control — 0.5%** |
| Republic Services Inc. |  |  |
| 4.88%, 04/01/29 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25133 |
| 5.00%, 12/15/33 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 89884 |
| 5.20%, 11/15/34<sup>(b)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 75882 |
| Waste Connections Inc., 3.50%, 05/01/29 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 38081 |
| Waste Management Inc., 4.95%, 07/03/31 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 105963 |
|  |  | &nbsp;&nbsp; 334943 |
| **Food — 0.4%** | **Food — 0.4%** | **Food — 0.4%** |
| Chobani LLC/Chobani Finance Corp. Inc., 7.63%, <br> 07/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10424 |
| Kellanova, 4.30%, 05/15/28 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 148297 |
| Kroger Co. (The) |  |  |
| 4.60%, 08/15/27 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30044 |
| 4.70%, 08/15/26 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25075 |
| 5.00%, 09/15/34 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 44234 |
| United Natural Foods Inc., 6.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 11587 |
|  |  | &nbsp;&nbsp; 269661 |
| **Gas — 0.7%** | **Gas — 0.7%** | **Gas — 0.7%** |
| AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |
| 5.50%, 05/20/25 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 5972 |
| 5.75%, 05/20/27 | &nbsp;&nbsp; 86 | &nbsp;&nbsp; 82921 |
| 9.38%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 73044 |
| Atmos Energy Corp., 5.90%, 11/15/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10645 |
| CenterPoint Energy Resources Corp., 5.25%, <br> 03/01/28<br>| &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35564 |
| NiSource Inc. |  |  |
| 0.95%, 08/15/25 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 135692 |
| 1.70%, 02/15/31 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 24750 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Gas (continued)** | **Gas (continued)** | **Gas (continued)** |
| Piedmont Natural Gas Co. Inc., 5.10%, 02/15/35 | &nbsp;&nbsp; $20 | &nbsp;&nbsp; $19621 |
| Southern California Gas Co. |  |  |
| 2.95%, 04/15/27 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 67353 |
| 5.20%, 06/01/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10138 |
| Southern Co. Gas Capital Corp., 5.75%, 09/15/33 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10392 |
| Southwest Gas Corp., 4.05%, 03/15/32 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 32472 |
|  |  | &nbsp;&nbsp; 508564 |
| **Health Care - Products — 0.5%** | **Health Care - Products — 0.5%** | **Health Care - Products — 0.5%** |
| Abbott Laboratories, 1.40%, 06/30/30<sup>(b)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 16994 |
| Agilent Technologies Inc., 2.30%, 03/12/31<sup>(b)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 30017 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 114 | &nbsp;&nbsp; 119790 |
| Zimmer Biomet Holdings Inc. |  |  |
| 3.05%, 01/15/26 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 137145 |
| 5.35%, 12/01/28 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40792 |
|  |  | &nbsp;&nbsp; 344738 |
| **Health Care - Services — 3.7%** | **Health Care - Services — 3.7%** | **Health Care - Services — 3.7%** |
| Centene Corp., 2.45%, 07/15/28 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 45000 |
| Cigna Group (The), 3.40%, 03/01/27 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 145662 |
| DaVita Inc. |  |  |
| 4.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 97503 |
| 6.88%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 170833 |
| Elevance Health Inc., 3.65%, 12/01/27 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 97104 |
| HCA Inc. |  |  |
| 3.50%, 09/01/30 | &nbsp;&nbsp; 210 | &nbsp;&nbsp; 192582 |
| 3.63%, 03/15/32 | &nbsp;&nbsp; 124 | &nbsp;&nbsp; 111512 |
| 5.45%, 04/01/31 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 106162 |
| 5.60%, 04/01/34 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 105778 |
| Heartland Dental LLC/Heartland Dental Finance <br> Corp., 10.50%, 04/30/28<sup>(a)</sup><br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10645 |
| ICON Investments Six DAC, 5.81%, 05/08/27 | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 408018 |
| LifePoint Health Inc. |  |  |
| 9.88%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10938 |
| 11.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 16729 |
| Quest Diagnostics Inc. |  |  |
| 4.60%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 115219 |
| 4.63%, 12/15/29 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 138573 |
| Star Parent Inc., 9.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20800 |
| Tenet Healthcare Corp., 6.13%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 44982 |
| UnitedHealth Group Inc. |  |  |
| 4.00%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 97516 |
| 4.25%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 59152 |
| Universal Health Services Inc. |  |  |
| 1.65%, 09/01/26 | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 470918 |
| 2.65%, 01/15/32 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 74972 |
| 5.05%, 10/15/34 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9490 |
|  |  | &nbsp;&nbsp; 2550088 |
| **Holding Companies - Diversified — 2.0%** | **Holding Companies - Diversified — 2.0%** | **Holding Companies - Diversified — 2.0%** |
| Ares Capital Corp. |  |  |
| 2.15%, 07/15/26 | &nbsp;&nbsp; 88 | &nbsp;&nbsp; 83503 |
| 2.88%, 06/15/28 | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 86717 |
| 7.00%, 01/15/27 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 56824 |
| Barings BDC Inc., 3.30%, 11/23/26 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 28503 |
| Benteler International AG, Class A, 10.50%, <br> 05/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19686 |
| Blackstone Private Credit Fund |  |  |
| 2.63%, 12/15/26 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 23555 |
| 2.70%, 01/15/25 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 59649 |
| Blackstone Secured Lending Fund |  |  |
| 2.85%, 09/30/28 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 17162 |
| 3.63%, 01/15/26 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 29326 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| Blue Owl Capital Corp., 3.75%, 07/22/25 | &nbsp;&nbsp; $180 | &nbsp;&nbsp; $177991 |
| Compass Group Diversified Holdings LLC, 5.25%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 52 | &nbsp;&nbsp; 50086 |
| FS KKR Capital Corp. |  |  |
| 2.63%, 01/15/27 | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 150138 |
| 3.40%, 01/15/26 | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 291903 |
| 6.88%, 08/15/29 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51498 |
| Golub Capital BDC Inc. |  |  |
| 2.50%, 08/24/26 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 18942 |
| 7.05%, 12/05/28 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 103822 |
| Main Street Capital Corp., 6.95%, 03/01/29 | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 87040 |
| Stena International SA |  |  |
| 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10399 |
| 7.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 18806 |
|  |  | &nbsp;&nbsp; 1365550 |
| **Home Builders — 0.8%** | **Home Builders — 0.8%** | **Home Builders — 0.8%** |
| Adams Homes Inc., 9.25%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10441 |
| Lennar Corp., 5.00%, 06/15/27 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35205 |
| LGI Homes Inc., 8.75%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15794 |
| NVR Inc., 3.00%, 05/15/30 | &nbsp;&nbsp; 175 | &nbsp;&nbsp; 158452 |
| Toll Brothers Finance Corp. |  |  |
| 3.80%, 11/01/29<sup>(b)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 28467 |
| 4.35%, 02/15/28 | &nbsp;&nbsp; 280 | &nbsp;&nbsp; 274944 |
| Winnebago Industries Inc., 6.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 49738 |
|  |  | &nbsp;&nbsp; 573041 |
| **Insurance — 3.7%** | **Insurance — 3.7%** | **Insurance — 3.7%** |
| Acrisure LLC/Acrisure Finance Inc., 6.00%, <br> 08/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 41 | &nbsp;&nbsp; 38757 |
| Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer<br>|  |  |
| 6.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19925 |
| 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15110 |
| Allstate Corp. (The), 5.05%, 06/24/29 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 60531 |
| Arthur J Gallagher & Co. |  |  |
| 2.40%, 11/09/31 | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 151489 |
| 6.50%, 02/15/34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 32475 |
| Assured Guaranty U.S. Holdings Inc., 6.13%, <br> 09/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 33 | &nbsp;&nbsp; 34448 |
| AssuredPartners Inc., 7.50%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15112 |
| Brown & Brown Inc. |  |  |
| 2.38%, 03/15/31 | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 135824 |
| 4.20%, 03/17/32 | &nbsp;&nbsp; 125 | &nbsp;&nbsp; 116332 |
| Enstar Group Ltd. |  |  |
| 3.10%, 09/01/31<sup>(b)</sup> | &nbsp;&nbsp; 135 | &nbsp;&nbsp; 114206 |
| 4.95%, 06/01/29 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 29609 |
| Fairfax Financial Holdings Ltd. |  |  |
| 3.38%, 03/03/31 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 26909 |
| 5.63%, 08/16/32 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101448 |
| 6.00%, 12/07/33 | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 108801 |
| Fidelity National Financial Inc., 4.50%, 08/15/28 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 196815 |
| HUB International Ltd. |  |  |
| 7.25%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15523 |
| 7.38%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15306 |
| Marsh & McLennan Companies Inc. |  |  |
| 2.38%, 12/15/31<sup>(b)</sup> | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 384053 |
| 4.38%, 03/15/29 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 59266 |
| MGIC Investment Corp., 5.25%, 08/15/28 | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 93606 |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 37791 |
| Primerica Inc., 2.80%, 11/19/31 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 42511 |
| Principal Financial Group Inc., 5.38%, 03/15/33 | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 22393 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Progressive Corp. (The), 3.20%, 03/26/30 | &nbsp;&nbsp; $16 | &nbsp;&nbsp; $14830 |
| Reinsurance Group of America Inc., 6.00%, 09/15/33 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 156507 |
| RenaissanceRe Finance Inc., 3.45%, 07/01/27 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 116369 |
| RenaissanceRe Holdings Ltd., 3.60%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 66340 |
| Sagicor Financial Co. Ltd., 5.30%, 05/13/28<sup>(a)</sup> | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 16559 |
| Unum Group, 4.00%, 06/15/29 | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 163417 |
| Willis North America Inc., 5.35%, 05/15/33 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195691 |
|  |  | &nbsp;&nbsp; 2597953 |
| **Internet — 0.9%** | **Internet — 0.9%** | **Internet — 0.9%** |
| GrubHub Holdings Inc., 5.50%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 50291 |
| Meta Platforms Inc., 3.85%, 08/15/32 | &nbsp;&nbsp; 175 | &nbsp;&nbsp; 164864 |
| Rakuten Group Inc. |  |  |
| 6.25%, (5-year CMT + 4.956%)<sup>(a)(d)(e)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 13574 |
| 9.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 70075 |
| 11.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 103228 |
| Uber Technologies Inc., 4.80%, 09/15/34 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 43594 |
| VeriSign Inc., 2.70%, 06/15/31 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 141292 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 45533 |
|  |  | &nbsp;&nbsp; 632451 |
| **Iron & Steel — 1.1%** | **Iron & Steel — 1.1%** | **Iron & Steel — 1.1%** |
| Cleveland-Cliffs Inc. |  |  |
| 6.75%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 26977 |
| 7.00%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30034 |
| 7.38%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40301 |
| Mineral Resources Ltd. |  |  |
| 8.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 13088 |
| 9.25%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 47 | &nbsp;&nbsp; 49514 |
| Reliance Inc. |  |  |
| 1.30%, 08/15/25 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 97106 |
| 2.15%, 08/15/30 | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 265199 |
| Steel Dynamics Inc., 3.25%, 01/15/31 | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 209742 |
| U.S. Steel Corp., 6.88%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12096 |
|  |  | &nbsp;&nbsp; 744057 |
| **Leisure Time — 0.5%** | **Leisure Time — 0.5%** | **Leisure Time — 0.5%** |
| Amer Sports Co., 6.75%, 02/16/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20313 |
| Carnival Corp., 7.63%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 65464 |
| Carnival Holdings Bermuda Ltd., 10.38%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 31125 |
| NCL Corp. Ltd. |  |  |
| 5.88%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 41943 |
| 7.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 32818 |
| 8.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10586 |
| Royal Caribbean Cruises Ltd. |  |  |
| 5.50%, 08/31/26<sup>(a)</sup> | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 18016 |
| 5.63%, 09/30/31<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14951 |
| Sabre GLBL Inc. |  |  |
| 8.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 16409 |
| 11.25%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 88 | &nbsp;&nbsp; 90537 |
| Viking Cruises Ltd., 9.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 22689 |
|  |  | &nbsp;&nbsp; 364851 |
| **Lodging — 1.4%** | **Lodging — 1.4%** | **Lodging — 1.4%** |
| Hilton Grand Vacations Borrower Escrow LLC/Hilton <br> Grand Vacations Borrower Esc<br>|  |  |
| 4.88%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 41104 |
| 5.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 34675 |
| 6.63%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 56996 |
| Hyatt Hotels Corp., 5.75%, 01/30/27 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30585 |
| Las Vegas Sands Corp. |  |  |
| 5.90%, 06/01/27 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 111684 |
| 6.00%, 08/15/29 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 152882 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| Marriott International Inc./MD |  |  |
| 5.00%, 10/15/27 | &nbsp;&nbsp; $150 | &nbsp;&nbsp; $151570 |
| 5.55%, 10/15/28 | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 174770 |
| Series HH, 2.85%, 04/15/31 | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 127485 |
| Melco Resorts Finance Ltd., 5.75%, 07/21/28<sup>(a)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 71694 |
| Travel & Leisure Co. |  |  |
| 4.63%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 5594 |
| 6.63%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12093 |
| Wynn Macau Ltd., 5.63%, 08/26/28<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 24028 |
|  |  | &nbsp;&nbsp; 995160 |
| **Machinery — 1.5%** | **Machinery — 1.5%** | **Machinery — 1.5%** |
| Caterpillar Financial Services Corp., 1.10%, 09/14/27 | &nbsp;&nbsp; 125 | &nbsp;&nbsp; 114280 |
| IDEX Corp. |  |  |
| 2.63%, 06/15/31 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 121003 |
| 3.00%, 05/01/30 | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 216809 |
| John Deere Capital Corp. |  |  |
| 2.45%, 01/09/30 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 45020 |
| 4.95%, 07/14/28<sup>(b)</sup> | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 304007 |
| Maxim Crane Works Holdings Capital LLC, 11.50%, <br> 09/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 21471 |
| Terex Corp., 6.25%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14928 |
| Westinghouse Air Brake Technologies Corp. |  |  |
| 3.20%, 06/15/25 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 192653 |
| 5.61%, 03/11/34 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 46250 |
|  |  | &nbsp;&nbsp; 1076421 |
| **Manufacturing — 0.5%** | **Manufacturing — 0.5%** | **Manufacturing — 0.5%** |
| 3M Co., 2.88%, 10/15/27 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47661 |
| Amsted Industries Inc., 5.63%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 16886 |
| Eaton Corp., 4.35%, 05/18/28 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 34828 |
| LSB Industries Inc., 6.25%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9684 |
| Pentair Finance SARL, 4.50%, 07/01/29 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 34112 |
| Teledyne Technologies Inc., 2.25%, 04/01/28 | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 212167 |
|  |  | &nbsp;&nbsp; 355338 |
| **Media — 2.6%** | **Media — 2.6%** | **Media — 2.6%** |
| Cable One Inc., 4.00%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 26774 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| 4.50%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 16630 |
| 5.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 73468 |
| 5.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4781 |
| 6.38%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 202 | &nbsp;&nbsp; 200031 |
| 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 147427 |
| CSC Holdings LLC |  |  |
| 11.25%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 43875 |
| 11.75%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 63399 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 50391 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 152 | &nbsp;&nbsp; 146376 |
| DISH DBS Corp., 5.75%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 21880 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 52637 |
| FactSet Research Systems Inc., 2.90%, 03/01/27 | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 215732 |
| GCI LLC, 4.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47171 |
| Nexstar Media Inc. |  |  |
| 4.75%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51698 |
| 5.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 68796 |
| Paramount Global, 4.20%, 05/19/32 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 26113 |
| Sinclair Television Group Inc., 4.13%, 12/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 48960 |
| Sirius XM Radio Inc. |  |  |
| 4.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 44890 |
| 4.13%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 16999 |
| 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 52940 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| 5.50%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; $100 | &nbsp;&nbsp; $97042 |
| Sunrise FinCo I BV, 4.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 13727 |
| TEGNA Inc. |  |  |
| 4.63%, 03/15/28 | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 30173 |
| 5.00%, 09/15/29 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 74635 |
| Univision Communications Inc. |  |  |
| 6.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 44715 |
| 7.38%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 39347 |
| 8.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25405 |
| Ziggo Bond Co. BV, 5.13%, 02/28/30<sup>(a)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 90509 |
|  |  | &nbsp;&nbsp; 1836521 |
| **Mining — 0.7%** | **Mining — 0.7%** | **Mining — 0.7%** |
| Arsenal AIC Parent LLC, 8.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10521 |
| BHP Billiton Finance USA Ltd. |  |  |
| 4.75%, 02/28/28 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 165828 |
| 5.10%, 09/08/28 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 152249 |
| FMG Resources August Pty. Ltd., 6.13%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4012 |
| Perenti Finance Pty Ltd., 7.50%, 04/26/29<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 52193 |
| Rio Tinto Finance USA Ltd., 7.13%, 07/15/28 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 14062 |
| Taseko Mines Ltd., 8.25%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 61991 |
|  |  | &nbsp;&nbsp; 460856 |
| **Office & Business Equipment — 0.9%** | **Office & Business Equipment — 0.9%** | **Office & Business Equipment — 0.9%** |
| CDW LLC/CDW Finance Corp. |  |  |
| 2.67%, 12/01/26 | &nbsp;&nbsp; 290 | &nbsp;&nbsp; 276854 |
| 3.25%, 02/15/29 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 129334 |
| 3.57%, 12/01/31 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 89606 |
| 4.25%, 04/01/28<sup>(b)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 97309 |
| Xerox Holdings Corp. |  |  |
| 5.50%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 45175 |
| 8.88%, 11/30/29<sup>(a)</sup> | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 6968 |
|  |  | &nbsp;&nbsp; 645246 |
| **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** |
| Steelcase Inc., 5.13%, 01/18/29 | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 15420 |
| **Oil & Gas — 4.7%** | **Oil & Gas — 4.7%** | **Oil & Gas — 4.7%** |
| Aethon United BR LP/Aethon United Finance Corp., <br> 7.50%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20131 |
| Baytex Energy Corp., 8.50%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 22390 |
| California Resources Corp., 8.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 91 | &nbsp;&nbsp; 91903 |
| Canadian Natural Resources Ltd. |  |  |
| 2.05%, 07/15/25 | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 293935 |
| 2.95%, 07/15/30 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 107282 |
| 3.85%, 06/01/27 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 107577 |
| Civitas Resources Inc. |  |  |
| 8.38%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51698 |
| 8.75%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 47147 |
| CNX Resources Corp. |  |  |
| 6.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 15863 |
| 7.25%, 03/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 31929 |
| 7.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34984 |
| Comstock Resources Inc. |  |  |
| 5.88%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 19171 |
| 6.75%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 25865 |
| Crescent Energy Finance LLC |  |  |
| 7.38%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 48487 |
| 7.63%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 18766 |
| 9.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 39904 |
| CVR Energy Inc., 8.50%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 69736 |
| Devon Energy Corp., 5.20%, 09/15/34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 28846 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Diamond Foreign Asset Co./Diamond Finance LLC, <br> 8.50%, 10/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; $58 | &nbsp;&nbsp; $59925 |
| Diamondback Energy Inc. |  |  |
| 5.15%, 01/30/30 | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 85430 |
| 5.40%, 04/18/34 | &nbsp;&nbsp; 80 | &nbsp;&nbsp; 79826 |
| EQT Corp., 3.90%, 10/01/27 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 48682 |
| Exxon Mobil Corp., 2.61%, 10/15/30 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 98583 |
| Gulfport Energy Operating Corp., 6.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 73 | &nbsp;&nbsp; 73340 |
| Hess Corp., 4.30%, 04/01/27 | &nbsp;&nbsp; 155 | &nbsp;&nbsp; 153342 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| 6.25%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 44 | &nbsp;&nbsp; 41286 |
| 8.38%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 36595 |
| Marathon Oil Corp. |  |  |
| 5.30%, 04/01/29 | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 147452 |
| 5.70%, 04/01/34 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62191 |
| Marathon Petroleum Corp., 4.70%, 05/01/25 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 99842 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 116588 |
| Northern Oil & Gas Inc. |  |  |
| 8.13%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40387 |
| 8.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 67262 |
| Occidental Petroleum Corp. |  |  |
| 6.38%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 155320 |
| 8.88%, 07/15/30 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 57449 |
| PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| 6.00%, 02/15/28 | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 39847 |
| 7.88%, 09/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 76774 |
| Permian Resources Operating LLC, 7.00%, <br> 01/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 76 | &nbsp;&nbsp; 77556 |
| Saturn Oil & Gas Inc., 9.63%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 40514 |
| Seadrill Finance Ltd., 8.38%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51010 |
| SM Energy Co. |  |  |
| 6.75%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 24854 |
| 7.00%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19866 |
| Strathcona Resources Ltd., 6.88%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 59547 |
| Sunoco LP, 7.25%, 05/01/32<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 59384 |
| Talos Production Inc. |  |  |
| 9.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 58691 |
| 9.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 84432 |
| Transocean Inc. |  |  |
| 8.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 21102 |
| 8.50%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10074 |
| 8.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 38722 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 90286 |
| Vermilion Energy Inc., 6.88%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 10872 |
|  |  | &nbsp;&nbsp; 3262645 |
| **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** |
| Archrock Partners LP/Archrock Partners Finance <br> Corp., 6.63%, 09/01/32<sup>(a)</sup><br>| &nbsp;&nbsp; 100 | &nbsp;&nbsp; 100434 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 70678 |
| Helix Energy Solutions Group Inc., 9.75%, <br> 03/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 25 | &nbsp;&nbsp; 26643 |
| Kodiak Gas Services LLC, 7.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25721 |
| USA Compression Partners LP/USA Compression <br> Finance Corp., 7.13%, 03/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20374 |
| Weatherford International Ltd., 8.63%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; 79 | &nbsp;&nbsp; 81661 |
|  |  | &nbsp;&nbsp; 325511 |
| **Packaging & Containers — 0.4%** | **Packaging & Containers — 0.4%** | **Packaging & Containers — 0.4%** |
| Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC, 4.00%, 09/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; 43872 |
| Graham Packaging Co. Inc., 7.13%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 68942 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| LABL Inc., 10.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; $26 | &nbsp;&nbsp; $25746 |
| Mauser Packaging Solutions Holding Co. |  |  |
| 7.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25686 |
| 9.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 39 | &nbsp;&nbsp; 39889 |
| Packaging Corp. of America, 5.70%, 12/01/33<sup>(b)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 103628 |
|  |  | &nbsp;&nbsp; 307763 |
| **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** |
| AbbVie Inc. |  |  |
| 2.95%, 11/21/26 | &nbsp;&nbsp; 190 | &nbsp;&nbsp; 184245 |
| 3.20%, 11/21/29 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 56107 |
| Astrazeneca Finance LLC, 1.75%, 05/28/28 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 136144 |
| Bausch Health Companies Inc. |  |  |
| 6.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 117796 |
| 11.00%, 09/30/28<sup>(a)</sup> | &nbsp;&nbsp; 135 | &nbsp;&nbsp; 124242 |
| BellRing Brands Inc., 7.00%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 71774 |
| Cardinal Health Inc. |  |  |
| 3.41%, 06/15/27 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 96818 |
| 5.45%, 02/15/34 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 13232 |
| Cencora Inc. |  |  |
| 3.45%, 12/15/27 | &nbsp;&nbsp; 158 | &nbsp;&nbsp; 152513 |
| 5.13%, 02/15/34 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 39714 |
| McKesson Corp., 0.90%, 12/03/25 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 52873 |
| Merck & Co. Inc., 4.50%, 05/17/33<sup>(b)</sup> | &nbsp;&nbsp; 125 | &nbsp;&nbsp; 122655 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV |  |  |
| 4.13%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; 179 | &nbsp;&nbsp; 169591 |
| 5.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 63826 |
| 7.88%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12382 |
| Zoetis Inc., 2.00%, 05/15/30 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 77712 |
|  |  | &nbsp;&nbsp; 1491624 |
| **Pipelines — 6.0%** | **Pipelines — 6.0%** | **Pipelines — 6.0%** |
| Cheniere Corpus Christi Holdings LLC, 5.13%, <br> 06/30/27<br>| &nbsp;&nbsp; 150 | &nbsp;&nbsp; 150961 |
| Cheniere Energy Inc., 5.65%, 04/15/34<sup>(b)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40211 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 45 | &nbsp;&nbsp; 42806 |
| DCP Midstream Operating LP, 3.25%, 02/15/32 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4334 |
| Delek Logistics Partners LP/Delek Logistics <br> Finance Corp.<br>|  |  |
| 7.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 10893 |
| 8.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 46113 |
| Enbridge Inc. |  |  |
| 5.63%, 04/05/34 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25398 |
| 6.00%, 11/15/28 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 26073 |
| Energy Transfer LP |  |  |
| 2.90%, 05/15/25 | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 296540 |
| 4.95%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 150312 |
| 5.55%, 05/15/34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30122 |
| 6.10%, 12/01/28 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 104213 |
| 6.55%, 12/01/33 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 64401 |
| FTAI Infra Escrow Holdings LLC, 10.50%, <br> 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10677 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| 7.88%, 05/15/32 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14986 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 13272 |
| 8.88%, 04/15/30 | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 66950 |
| Kinder Morgan Inc. |  |  |
| 1.75%, 11/15/26 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 94370 |
| 5.10%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 95391 |
| MPLX LP |  |  |
| 1.75%, 03/01/26 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 134431 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 2.65%, 08/15/30 | &nbsp;&nbsp; $475 | &nbsp;&nbsp; $417912 |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 291937 |
| New Fortress Energy Inc. |  |  |
| 6.50%, 09/30/26<sup>(a)</sup> | &nbsp;&nbsp; 104 | &nbsp;&nbsp; 96194 |
| 8.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 34247 |
| ONEOK Inc. |  |  |
| 2.20%, 09/15/25 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 195375 |
| 4.55%, 07/15/28 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 148267 |
| 5.65%, 11/01/28<sup>(b)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 51329 |
| 6.10%, 11/15/32 | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 68255 |
| 6.35%, 01/15/31 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 111270 |
| Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| 3.55%, 12/15/29 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 41917 |
| 3.80%, 09/15/30 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 37261 |
| 5.70%, 09/15/34 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20180 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15205 |
| Summit Midstream Holdings LLC, 8.63%, 10/31/29<sup>(a)</sup> | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 55789 |
| Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp.<br>|  |  |
| 6.00%, 12/31/30<sup>(a)</sup> | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 40358 |
| 7.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15041 |
| Targa Resources Corp. |  |  |
| 4.20%, 02/01/33 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 128655 |
| 5.20%, 07/01/27 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 151749 |
| 6.15%, 03/01/29 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 146168 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp.<br>|  |  |
| 4.88%, 02/01/31 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 116603 |
| 6.50%, 07/15/27 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 100908 |
| Venture Global Calcasieu Pass LLC, 6.25%, <br> 01/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 84 | &nbsp;&nbsp; 85879 |
| Venture Global LNG Inc. |  |  |
| 7.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 69414 |
| 8.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25943 |
| 8.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25949 |
| 9.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 79606 |
| 9.88%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 49115 |
| Western Midstream Operating LP, 6.15%, 04/01/33 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 41323 |
| Williams Companies Inc. (The), 5.30%, 08/15/28 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101514 |
|  |  | &nbsp;&nbsp; 4185817 |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| CBRE Services Inc., 4.88%, 03/01/26 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 99882 |
| Cushman & Wakefield U.S. Borrower LLC, 8.88%, <br> 09/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; 53852 |
| Five Point Operating Co. LP/Five Point Capital Corp., <br> 10.50%, 01/15/28<sup>(a)(f)</sup><br>| &nbsp;&nbsp; 18 | &nbsp;&nbsp; 18428 |
| Howard Hughes Corp. (The) |  |  |
| 4.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9221 |
| 4.38%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 26881 |
| 5.38%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 64148 |
| Newmark Group Inc., 7.50%, 01/12/29 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 2117 |
|  |  | &nbsp;&nbsp; 274529 |
| **Real Estate Investment Trusts — 5.2%** | **Real Estate Investment Trusts — 5.2%** | **Real Estate Investment Trusts — 5.2%** |
| American Tower Corp. |  |  |
| 1.45%, 09/15/26 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 84769 |
| 3.80%, 08/15/29 | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 152259 |
| 5.80%, 11/15/28 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 61893 |
| Apollo Commercial Real Estate Finance Inc., 4.63%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 51 | &nbsp;&nbsp; 44276 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Brandywine Operating Partnership LP |  |  |
| 8.30%, 03/15/28 | &nbsp;&nbsp; $50 | &nbsp;&nbsp; $52277 |
| 8.88%, 04/12/29 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 54188 |
| Crown Castle Inc. |  |  |
| 3.65%, 09/01/27 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 87097 |
| 3.80%, 02/15/28 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 11593 |
| 4.00%, 03/01/27 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 68736 |
| Equinix Inc., 2.63%, 11/18/24 | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 84891 |
| ERP Operating LP, 4.65%, 09/15/34<sup>(b)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 33595 |
| Global Net Lease Inc./Global Net Lease Operating <br> Partnership LP, 3.75%, 12/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; 45858 |
| Hudson Pacific Properties LP, 3.95%, 11/01/27 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 26926 |
| Invitation Homes Operating Partnership LP, 2.30%, <br> 11/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 18105 |
| Iron Mountain Inc. |  |  |
| 5.63%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 119 | &nbsp;&nbsp; 115417 |
| 7.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 46272 |
| Iron Mountain Information Management <br> Services Inc., 5.00%, 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 23 | &nbsp;&nbsp; 21690 |
| Ladder Capital Finance Holdings LLLP/Ladder <br> Capital Finance Corp.<br>|  |  |
| 4.25%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 27099 |
| 7.00%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 39469 |
| Mid-America Apartments LP, 1.10%, 09/15/26 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 103088 |
| MPT Operating Partnership LP/MPT Finance Corp. |  |  |
| 5.00%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 79 | &nbsp;&nbsp; 69741 |
| 5.25%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 32178 |
| National Health Investors Inc., 3.00%, 02/01/31 | &nbsp;&nbsp; 86 | &nbsp;&nbsp; 73793 |
| Necessity Retail REIT Inc./American Finance <br> Operating Partner LP (The), 4.50%, 09/30/28<sup>(a)</sup><br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; 46051 |
| Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer, 7.00%, <br> 02/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 38 | &nbsp;&nbsp; 38889 |
| Prologis LP, 4.75%, 06/15/33 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 73588 |
| Public Storage Operating Co. |  |  |
| 2.30%, 05/01/31 | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 198894 |
| 3.39%, 05/01/29 | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 90201 |
| Realty Income Corp. |  |  |
| 2.10%, 03/15/28 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 91731 |
| 4.75%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 69909 |
| Rithm Capital Corp., 8.00%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 81833 |
| RLJ Lodging Trust LP, 4.00%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 20736 |
| Simon Property Group LP |  |  |
| 2.45%, 09/13/29 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 125977 |
| 2.65%, 02/01/32 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 42926 |
| 6.25%, 01/15/34<sup>(b)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 64623 |
| Starwood Property Trust Inc., 7.25%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 24668 |
| Sun Communities Operating LP |  |  |
| 2.70%, 07/15/31 | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 123388 |
| 5.50%, 01/15/29 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 151407 |
| Uniti Group LP/Uniti Group Finance 2019 Inc./CSL <br> Capital LLC<br>|  |  |
| 6.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 20629 |
| 10.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 109 | &nbsp;&nbsp; 116203 |
| 10.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5306 |
| Ventas Realty LP, 5.63%, 07/01/34 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 168698 |
| VICI Properties LP |  |  |
| 4.38%, 05/15/25 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 199222 |
| 4.75%, 02/15/28 | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 307121 |
| Welltower OP LLC |  |  |
| 2.05%, 01/15/29 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 35886 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 3.10%, 01/15/30 | &nbsp;&nbsp; $100 | &nbsp;&nbsp; $91847 |
| 4.25%, 04/01/26 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 49668 |
|  |  | &nbsp;&nbsp; 3594611 |
| **Retail — 2.1%** | **Retail — 2.1%** | **Retail — 2.1%** |
| 1011778 BC ULC/New Red Finance Inc., 4.00%, <br> 10/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 88 | &nbsp;&nbsp; 79524 |
| Academy Ltd., 6.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14956 |
| AutoZone Inc. |  |  |
| 4.50%, 02/01/28 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 59630 |
| 5.05%, 07/15/26 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 60442 |
| 6.25%, 11/01/28 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 73645 |
| Bath & Body Works Inc. |  |  |
| 6.63%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25044 |
| 6.75%, 07/01/36<sup>(b)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 35091 |
| 6.88%, 11/01/35 | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 68991 |
| Carvana Co. |  |  |
| 12.00%, 12/01/28, (12.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 81 | &nbsp;&nbsp; 85195 |
| 13.00%, 06/01/30, (13.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 67933 |
| 14.00%, 06/01/31, (14.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 78043 |
| Darden Restaurants Inc. |  |  |
| 4.35%, 10/15/27 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19743 |
| 4.55%, 10/15/29 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 34171 |
| 6.30%, 10/10/33<sup>(b)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 21093 |
| Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co. Inc., 6.75%, 01/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 41823 |
| FirstCash Inc. |  |  |
| 5.63%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 65900 |
| 6.88%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 20268 |
| Foot Locker Inc., 4.00%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 30146 |
| Gap Inc. (The) |  |  |
| 3.63%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 10767 |
| 3.88%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 11173 |
| Genuine Parts Co., 1.75%, 02/01/25 | &nbsp;&nbsp; 245 | &nbsp;&nbsp; 242826 |
| Home Depot Inc. (The), 3.25%, 04/15/32 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 45153 |
| LCM Investments Holdings II LLC, 8.25%, <br> 08/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5228 |
| Lowe's Companies Inc., 3.35%, 04/01/27 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 29134 |
| Macy's Retail Holdings LLC |  |  |
| 5.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14661 |
| 5.88%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 11588 |
| McDonald's Corp., 4.95%, 08/14/33<sup>(b)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 40135 |
| Nordstrom Inc., 5.00%, 01/15/44 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 6009 |
| Patrick Industries Inc., 6.38%, 11/01/32<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19780 |
| PetSmart Inc./PetSmart Finance Corp., 4.75%, <br> 02/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9507 |
| Raising Cane's Restaurants LLC, 9.38%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 10757 |
| Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.00%, 06/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 5508 |
| Superior Plus LP/Superior General Partner Inc., <br> 4.50%, 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 42438 |
| Victoria's Secret & Co., 4.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 39609 |
| Walgreens Boots Alliance Inc. |  |  |
| 3.45%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 6736 |
| 8.13%, 08/15/29 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 19848 |
|  |  | &nbsp;&nbsp; 1452495 |
| **Semiconductors — 2.0%** | **Semiconductors — 2.0%** | **Semiconductors — 2.0%** |
| Analog Devices Inc. |  |  |
| 1.70%, 10/01/28 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 35942 |
| 2.10%, 10/01/31 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 84630 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| Broadcom Inc. |  |  |
| 1.95%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; $200 | &nbsp;&nbsp; $183021 |
| 3.15%, 11/15/25 | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 344362 |
| 3.46%, 09/15/26 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 107742 |
| 4.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 155 | &nbsp;&nbsp; 149406 |
| 4.15%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 103839 |
| Marvell Technology Inc. |  |  |
| 2.95%, 04/15/31 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 39746 |
| 5.95%, 09/15/33 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 57553 |
| Micron Technology Inc. |  |  |
| 5.30%, 01/15/31 | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 50332 |
| 5.38%, 04/15/28 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101375 |
| 6.75%, 11/01/29 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 107325 |
|  |  | &nbsp;&nbsp; 1365273 |
| **Software — 2.6%** | **Software — 2.6%** | **Software — 2.6%** |
| AthenaHealth Group Inc., 6.50%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 47273 |
| Central Parent LLC/CDK Global II LLC/CDK <br> Financing Co. Inc., 8.00%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5112 |
| Cloud Software Group Inc. |  |  |
| 8.25%, 06/30/32<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 38030 |
| 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 58000 |
| Dye & Durham Ltd., 8.63%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 26548 |
| Electronic Arts Inc., 1.85%, 02/15/31 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 83863 |
| Fiserv Inc. |  |  |
| 5.35%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 132785 |
| 5.45%, 03/02/28 | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 397867 |
| 5.60%, 03/02/33 | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 87321 |
| Intuit Inc. |  |  |
| 5.13%, 09/15/28 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 153264 |
| 5.20%, 09/15/33 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 61163 |
| Oracle Corp. |  |  |
| 1.65%, 03/25/26 | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 124563 |
| 2.30%, 03/25/28<sup>(b)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 138811 |
| 2.88%, 03/25/31 | &nbsp;&nbsp; 175 | &nbsp;&nbsp; 155055 |
| 2.95%, 04/01/30 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 99825 |
| 4.70%, 09/27/34 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 67357 |
| 4.90%, 02/06/33 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 44403 |
| RingCentral Inc., 8.50%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 31705 |
| UKG Inc., 6.88%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 44 | &nbsp;&nbsp; 45082 |
| VMware LLC, 4.50%, 05/15/25 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 29909 |
|  |  | &nbsp;&nbsp; 1827936 |
| **Telecommunications — 4.5%** | **Telecommunications — 4.5%** | **Telecommunications — 4.5%** |
| AT&T Inc., 1.70%, 03/25/26 | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 239891 |
| Cisco Systems Inc., 5.05%, 02/26/34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30502 |
| CommScope LLC |  |  |
| 6.00%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 36144 |
| 8.25%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 129 | &nbsp;&nbsp; 121894 |
| CommScope Technologies LLC, 5.00%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 38048 |
| Consolidated Communications Inc., 6.50%, <br> 10/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 41 | &nbsp;&nbsp; 38943 |
| Frontier Communications Holdings LLC, 6.75%, <br> 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 119 | &nbsp;&nbsp; 118422 |
| Hughes Satellite Systems Corp. |  |  |
| 5.25%, 08/01/26 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 44978 |
| 6.63%, 08/01/26 | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 49675 |
| Iliad Holding SASU |  |  |
| 6.50%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 30226 |
| 8.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 21388 |
| Intelsat Jackson Holdings SA, 6.50%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 56482 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Level 3 Financing Inc. |  |  |
| 4.25%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; $115 | &nbsp;&nbsp; $95624 |
| 10.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 116 | &nbsp;&nbsp; 129304 |
| 10.75%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 40338 |
| Lumen Technologies Inc. |  |  |
| 5.38%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 2334 |
| 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 27991 |
| Motorola Solutions Inc. |  |  |
| 2.75%, 05/24/31 | &nbsp;&nbsp; 190 | &nbsp;&nbsp; 166007 |
| 5.60%, 06/01/32<sup>(b)</sup> | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 237076 |
| Rogers Communications Inc., 5.00%, 02/15/29 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 100085 |
| T-Mobile USA Inc. |  |  |
| 1.50%, 02/15/26 | &nbsp;&nbsp; 490 | &nbsp;&nbsp; 470388 |
| 2.88%, 02/15/31 | &nbsp;&nbsp; 292 | &nbsp;&nbsp; 258649 |
| 4.85%, 01/15/29 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 100169 |
| Verizon Communications Inc., 1.45%, 03/20/26 | &nbsp;&nbsp; 370 | &nbsp;&nbsp; 354430 |
| Viavi Solutions Inc., 3.75%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 33562 |
| Vmed O2 U.K. Financing I PLC, 4.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 86602 |
| Vodafone Group PLC |  |  |
| 5.13%, 06/04/81, (5-year CMT + 3.073%)<sup>(d)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 19995 |
| 7.00%, 04/04/79, <br> (5-year USD Swap + 4.873%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; 52474 |
| Windstream Services LLC/Windstream Escrow <br> Finance Corp.<br>|  |  |
| 7.75%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 23125 |
| 8.25%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 24298 |
| Zegona Finance PLC, 8.63%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 59322 |
|  |  | &nbsp;&nbsp; 3108366 |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| Brightline East LLC, 11.00%, 01/31/30<sup>(a)</sup> | &nbsp;&nbsp; 50 | &nbsp;&nbsp; 45129 |
| Rand Parent LLC, 8.50%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14964 |
|  |  | &nbsp;&nbsp; 60093 |
| **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** |
| Fortress Transportation and Infrastructure <br> Investors LLC<br>|  |  |
| 5.88%, 04/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 14628 |
| 7.00%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25697 |
| 7.88%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 35966 |
| 5.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 44173 |
|  |  | &nbsp;&nbsp; 120464 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| American Water Capital Corp. |  |  |
| 4.45%, 06/01/32<sup>(b)</sup> | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 24321 |
| 5.15%, 03/01/34 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 5033 |
| Essential Utilities Inc. |  |  |
| 2.40%, 05/01/31 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4313 |
| 5.38%, 01/15/34 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 15114 |
|  |  | &nbsp;&nbsp; 48781 |
| **Total Corporate Bonds & Notes — 97.9%** <br>**(Cost: $67,794,146)** | **Total Corporate Bonds & Notes — 97.9%** <br>**(Cost: $67,794,146)** | &nbsp;&nbsp; 68312363 |
| **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** |
| **Mortgage-Backed Securities — 32.6%** | **Mortgage-Backed Securities — 32.6%** | **Mortgage-Backed Securities — 32.6%** |
| Federal Home Loan Mortgage Corp. |  |  |
| 3.00%, 12/01/46 | &nbsp;&nbsp; 0 <br><sup>(g)</sup><br>| &nbsp;&nbsp; 30 |
| 3.50%, 09/01/44 | &nbsp;&nbsp; 0 <br><sup>(g)</sup><br>| &nbsp;&nbsp; 39 |
| Federal National Mortgage Association |  |  |
| 4.00%, 01/01/57 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 44091 |
| 4.00%, 02/01/57 | &nbsp;&nbsp; 47 | &nbsp;&nbsp; 43878 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Government National Mortgage Association |  |  |
| 2.00%, 11/20/54<sup>(h)</sup> | &nbsp;&nbsp; $825 | &nbsp;&nbsp; $672619 |
| 2.50%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 800 | &nbsp;&nbsp; 677623 |
| 3.00%, 11/20/54<sup>(h)</sup> | &nbsp;&nbsp; 725 | &nbsp;&nbsp; 635625 |
| 3.50%, 11/20/54<sup>(h)</sup> | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 406636 |
| 4.00%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 346 | &nbsp;&nbsp; 322077 |
| 4.50%, 11/20/54<sup>(h)</sup> | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 477214 |
| 5.00%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 385 | &nbsp;&nbsp; 376034 |
| 5.50%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 375 | &nbsp;&nbsp; 372904 |
| 6.00%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 327363 |
| 6.50%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 175 | &nbsp;&nbsp; 177787 |
| Uniform Mortgage-Backed Securities |  |  |
| 1.50%, 11/18/39<sup>(h)</sup> | &nbsp;&nbsp; 452 | &nbsp;&nbsp; 391195 |
| 2.00%, 11/18/39<sup>(h)</sup> | &nbsp;&nbsp; 1218 | &nbsp;&nbsp; 1084821 |
| 2.00%, 11/14/54<sup>(h)</sup> | &nbsp;&nbsp; 5332 | &nbsp;&nbsp; 4225659 |
| 2.50%, 11/18/39<sup>(h)</sup> | &nbsp;&nbsp; 447 | &nbsp;&nbsp; 407995 |
| 2.50%, 11/14/54<sup>(h)</sup> | &nbsp;&nbsp; 3637 | &nbsp;&nbsp; 3008471 |
| 3.00%, 11/18/39<sup>(h)</sup> | &nbsp;&nbsp; 280 | &nbsp;&nbsp; 261548 |
| 3.00%, 11/14/54<sup>(h)</sup> | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1721573 |
| 3.50%, 11/18/39<sup>(h)</sup> | &nbsp;&nbsp; 102 | &nbsp;&nbsp; 97143 |
| 3.50%, 11/14/54<sup>(h)</sup> | &nbsp;&nbsp; 1550 | &nbsp;&nbsp; 1385618 |
| 4.00%, 11/15/39<sup>(h)</sup> | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 154684 |
| 4.00%, 11/14/54<sup>(h)</sup> | &nbsp;&nbsp; 1078 | &nbsp;&nbsp; 995890 |
| 4.50%, 11/14/54<sup>(h)</sup> | &nbsp;&nbsp; 658 | &nbsp;&nbsp; 624643 |
| 5.00%, 11/14/54<sup>(h)</sup> | &nbsp;&nbsp; 850 | &nbsp;&nbsp; 825886 |
| 5.50%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 1150 | &nbsp;&nbsp; 1139074 |
| 6.00%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 1025 | &nbsp;&nbsp; 1031534 |
| 6.50%, 11/15/54<sup>(h)</sup> | &nbsp;&nbsp; 800 | &nbsp;&nbsp; 816485 |
|  |  | &nbsp;&nbsp; 22706139 |
| **Total U.S. Government Agency Obligations — 32.6%** <br>**(Cost: $23,089,656)** | **Total U.S. Government Agency Obligations — 32.6%** <br>**(Cost: $23,089,656)** | &nbsp;&nbsp; 22706139 |
| **Total Long-Term Investments — 130.5%** <br>**(Cost: $90,883,802)** | **Total Long-Term Investments — 130.5%** <br>**(Cost: $90,883,802)** | &nbsp;&nbsp; 91018502 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 8.7%** | **Money Market Funds — 8.7%** | **Money Market Funds — 8.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(i)(j)(k)</sup><br>| &nbsp;&nbsp; 6002379 | &nbsp;&nbsp; 6006581 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(i)(j)</sup><br>| &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| **Total Short-Term Securities — 8.7%** <br>**(Cost: $6,103,129)** | **Total Short-Term Securities — 8.7%** <br>**(Cost: $6,103,129)** | &nbsp;&nbsp; 6106581 |
| **Total Investments Before TBA Sales Commitments — 139.2%** <br>**(Cost: $96,986,931)** | **Total Investments Before TBA Sales Commitments — 139.2%** <br>**(Cost: $96,986,931)** | &nbsp;&nbsp; 97125083 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **TBA Sales Commitments**<sup>(h)</sup> | **TBA Sales Commitments**<sup>(h)</sup> | **TBA Sales Commitments**<sup>(h)</sup> |
| **Mortgage-Backed Securities — (5.0)%** | **Mortgage-Backed Securities — (5.0)%** | **Mortgage-Backed Securities — (5.0)%** |
| Government National Mortgage Association, 4.50%, <br> 11/20/54<br>| &nbsp;&nbsp; $(100)<br>| &nbsp;&nbsp; $(95443)<br>|
| Uniform Mortgage-Backed Securities |  |  |
| 2.50%, 11/18/39 | &nbsp;&nbsp; (100)<br>| &nbsp;&nbsp; (91274)<br>|
| 5.00%, 11/14/54 | &nbsp;&nbsp; (200)<br>| &nbsp;&nbsp; (194326)<br>|
| 5.50%, 11/15/54 | &nbsp;&nbsp; (200)<br>| &nbsp;&nbsp; (198100)<br>|
| 6.00%, 11/15/54 | &nbsp;&nbsp; (200)<br>| &nbsp;&nbsp; (201275)<br>|
| 6.50%, 11/15/54 | &nbsp;&nbsp; (100)<br>| &nbsp;&nbsp; (102061)<br>|
| 2.00%, 11/18/39 | &nbsp;&nbsp; (200)<br>| &nbsp;&nbsp; (178104)<br>|
| 2.00%, 11/14/54 | &nbsp;&nbsp; (1350)<br>| &nbsp;&nbsp; (1069852)<br>|
| 2.50%, 11/14/54 | &nbsp;&nbsp; (600)<br>| &nbsp;&nbsp; (496311)<br>|
| 3.00%, 11/14/54 | &nbsp;&nbsp; (400)<br>| &nbsp;&nbsp; (344315)<br>|
| 3.50%, 11/14/54 | &nbsp;&nbsp; (300)<br>| &nbsp;&nbsp; (268184)<br>|
| 4.00%, 11/14/54 | &nbsp;&nbsp; (300)<br>| &nbsp;&nbsp; (277149)<br>|
| **Total TBA Sales Commitments — (5.0)%** <br>**(Proceeds: $(3517742))** | **Total TBA Sales Commitments — (5.0)%** <br>**(Proceeds: $(3517742))** | &nbsp;&nbsp; (3516394)<br>|
| **Total Investments, Net of TBA Sales Commitments — 134.2%** <br>**(Cost: $93,469,189)** | **Total Investments, Net of TBA Sales Commitments — 134.2%** <br>**(Cost: $93,469,189)** | &nbsp;&nbsp; 93608689 |
| **Liabilities in Excess of Other Assets — (34.2)%** | **Liabilities in Excess of Other Assets — (34.2)%** | &nbsp;&nbsp; (23848259)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $69760430 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(d)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(e)</sup> Perpetual security with no stated maturity date.

<sup>(f)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(g)</sup> Rounds to less than 1,000.

<sup>(h)</sup> Represents or includes a TBA transaction.

<sup>(i)</sup> Affiliate of the Fund.

<sup>(j)</sup> Annualized 7-day yield as of period end.

<sup>(k)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $5390158 | $615297 | &nbsp;&nbsp; $0 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $371 | $755 | $6006581 | 6002379 | $50207 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 100000 | 0 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 100000 | 100000 | 5240 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $371 | $755 | $6106581 |  | $55447 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| 10-Year U.S. Ultra Long Treasury Note | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 12/19/24 | &nbsp;&nbsp; $910 | &nbsp;&nbsp; $(1)<br>|
| 5-Year U.S. Treasury Note | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 12/31/24 | &nbsp;&nbsp; 5470 | &nbsp;&nbsp; (100011)<br>|
|  |  |  |  | &nbsp;&nbsp; (100012)<br>|
| Short Contracts |  |  |  |  |
| 10-Year U.S. Treasury Note | &nbsp;&nbsp; (22)<br>| &nbsp;&nbsp; 12/19/24 | &nbsp;&nbsp; 2430 | &nbsp;&nbsp; 74861 |
| U.S. Long Bond | &nbsp;&nbsp; (55)<br>| &nbsp;&nbsp; 12/19/24 | &nbsp;&nbsp; 6490 | &nbsp;&nbsp; 287380 |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; (45)<br>| &nbsp;&nbsp; 12/19/24 | &nbsp;&nbsp; 5648 | &nbsp;&nbsp; 356167 |
|  |  |  |  | &nbsp;&nbsp; 718408 |
|  |  |  |  | &nbsp;&nbsp; $618396 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statement of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $718408 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $718408 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $100012 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $100012 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statement of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® U.S. Fixed Income Balanced Risk Systematic ETF**

For the period ended October 31, 2024, the effect of derivative financial instruments in the Statement of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(282883)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(282883)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(410611)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(410611)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $5463545 |
| Average notional value of contracts — short | &nbsp;&nbsp; $12712449 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $68312363 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $68312363 |
| U.S. Government Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 22706139 | &nbsp;&nbsp; — | &nbsp;&nbsp; 22706139 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 6106581 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6106581 |
| Liabilities |  |  |  |  |
| Investments  |  |  |  |  |
| TBA Sales Commitments | &nbsp;&nbsp; — | &nbsp;&nbsp; (3516394)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (3516394)<br>|
|  | &nbsp;&nbsp; $6106581 | &nbsp;&nbsp; $87502108 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $93608689 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Interest Rate Contracts | &nbsp;&nbsp; $718408 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $718408 |
| Liabilities  |  |  |  |  |
| Interest Rate Contracts | &nbsp;&nbsp; (100012)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (100012)<br>|
|  | &nbsp;&nbsp; $618396 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $618396 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

*See notes to financial statements.*

Schedule of Investments

------

Statement of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; iShares <br>U.S. Fixed <br> Income <br> Balanced Risk <br> Systematic <br> ETF <br>|
| **ASSETS** |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $91018502 |
| Investments, at value—affiliated<sup>(c)</sup> | 6106581 |
| Cash pledged for futures contracts | 438000 |
| Receivables: |  |
| Investments sold | 194083 |
| Securities lending income—affiliated | 1385 |
| TBA sales commitments | 3517742 |
| Dividends—affiliated | 3759 |
| Interest—unaffiliated | 821754 |
| Variation margin on futures contracts | 6128 |
| Total assets | 102107934 |
| **LIABILITIES** |  |
| Bank overdraft | 816 |
| Collateral on securities loaned, at value | 5740548 |
| TBA sales commitments, at value<sup>(d)</sup> | 3516394 |
| Payables: |  |
| Investments purchased | 23074946 |
| Investment advisory fees | 14800 |
| Total liabilities | 32347504 |
| **Commitments and contingent liabilities** |  |
| NET ASSETS | $69760430 |
| **NET ASSETS CONSIST OF** |  |
| Paid-in capital | $84321218 |
| Accumulated loss | (14560788) |
| NET ASSETS | $69760430 |
| **NET ASSET VALUE** |  |
| Shares outstanding | 800000 |
| Net asset value | $87.20 |
| Shares authorized | Unlimited |
| Par value |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $90883802 |
| <sup>(b)</sup> Securities loaned, at value | $5529143 |
| <sup>(c)</sup> Investments, at cost—affiliated | $6103129 |
| <sup>(d)</sup> Proceeds from TBA sales commitments | $3517742 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statement of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>U.S. Fixed <br> Income <br> Balanced Risk <br> Systematic <br> ETF <br>|
| **INVESTMENT INCOME** |  |
| Dividends—affiliated | &nbsp;&nbsp; $38640 |
| Interest—unaffiliated | &nbsp;&nbsp; 3360892 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 16807 |
| Other income—unaffiliated | &nbsp;&nbsp; 864 |
| Foreign taxes withheld | &nbsp;&nbsp; (2557)<br>|
| Total investment income | &nbsp;&nbsp; 3414646 |
| EXPENSES |  |
| Investment advisory | &nbsp;&nbsp; 161512 |
| Interest expense | &nbsp;&nbsp; 127 |
| Total expenses | &nbsp;&nbsp; 161639 |
| Less: |  |
| Investment advisory fees waived | &nbsp;&nbsp; (654)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 160985 |
| Net investment income | &nbsp;&nbsp; 3253661 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| Net realized gain (loss) from: |  |
| Investments—unaffiliated | &nbsp;&nbsp; 542062 |
| Investments—affiliated | &nbsp;&nbsp; 371 |
| Futures contracts | &nbsp;&nbsp; (282883)<br>|
|  | &nbsp;&nbsp; 259550 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments—unaffiliated | &nbsp;&nbsp; 4041274 |
| Investments—affiliated | &nbsp;&nbsp; 755 |
| Futures contracts | &nbsp;&nbsp; (410611)<br>|
|  | &nbsp;&nbsp; 3631418 |
| Net realized and unrealized gain | &nbsp;&nbsp; 3890968 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $7144629 |

---

*See notes to financial statements.*

Statement of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>U.S. Fixed Income Balanced Risk <br> Systematic ETF  | iShares <br>U.S. Fixed Income Balanced Risk <br> Systematic ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |
| **OPERATIONS** |  |  |
| Net investment income | &nbsp;&nbsp; $3253661 | &nbsp;&nbsp;&nbsp; $2762855 |
| Net realized gain (loss) | &nbsp;&nbsp; 259550 | &nbsp;&nbsp;&nbsp; (1937986)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 3631418 | &nbsp;&nbsp;&nbsp; 2011948 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 7144629 | &nbsp;&nbsp;&nbsp; 2836817 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (3181572)<br>| &nbsp;&nbsp;&nbsp; (2788641)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 8560417 | &nbsp;&nbsp;&nbsp; (12410824)<br>|
| *NET ASSETS* |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 12523474 | &nbsp;&nbsp;&nbsp; (12362648)<br>|
| Beginning of year | &nbsp;&nbsp; 57236956 | &nbsp;&nbsp;&nbsp; 69599604 |
| End of year | &nbsp;&nbsp; $69760430 | &nbsp;&nbsp;&nbsp; $57236956 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares U.S. Fixed Income Balanced Risk Systematic ETF  | iShares U.S. Fixed Income Balanced Risk Systematic ETF  | iShares U.S. Fixed Income Balanced Risk Systematic ETF  | iShares U.S. Fixed Income Balanced Risk Systematic ETF  | iShares U.S. Fixed Income Balanced Risk Systematic ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $81.77 | &nbsp;&nbsp;&nbsp; $81.88 | &nbsp;&nbsp;&nbsp; $100.00 | &nbsp;&nbsp;&nbsp; $101.38 | &nbsp;&nbsp;&nbsp; $101.55 |
| Net investment income<sup>(a)</sup> | 4.33 | &nbsp;&nbsp;&nbsp;&nbsp;3.66 | &nbsp;&nbsp;&nbsp;&nbsp;2.44 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;2.67 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 5.33 | &nbsp;&nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp;&nbsp; (18.32)<br>| &nbsp;&nbsp;&nbsp; (1.22)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.11 |
| Net increase (decrease) from investment operations | 9.66 | &nbsp;&nbsp;&nbsp;&nbsp;3.56 | &nbsp;&nbsp;&nbsp; (15.88)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;2.78 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (4.23)<br>| &nbsp;&nbsp;&nbsp; (3.67)<br>| &nbsp;&nbsp;&nbsp; (2.24)<br>| &nbsp;&nbsp;&nbsp; (1.97)<br>| &nbsp;&nbsp;&nbsp; (2.87)<br>|
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.08)<br>|
| Total distributions | &nbsp;&nbsp; (4.23)<br>| &nbsp;&nbsp;&nbsp; (3.67)<br>| &nbsp;&nbsp;&nbsp; (2.24)<br>| &nbsp;&nbsp;&nbsp; (1.97)<br>| &nbsp;&nbsp;&nbsp; (2.95)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $87.20 | &nbsp;&nbsp;&nbsp; $81.77 | &nbsp;&nbsp;&nbsp; $81.88 | &nbsp;&nbsp;&nbsp; $100.00 | &nbsp;&nbsp;&nbsp; $101.38 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 12.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.32<br> %<br>| &nbsp;&nbsp;&nbsp; (16.04)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.79<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>|
| Total expenses after fees waived | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24<br> %<br>|
| Net investment income | 5.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.67<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.79<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.65<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $69760 | &nbsp;&nbsp;&nbsp; $57237 | &nbsp;&nbsp;&nbsp; $69600 | &nbsp;&nbsp;&nbsp; $114999 | &nbsp;&nbsp;&nbsp; $131792 |
| Portfolio turnover rate<sup>(f)(g)</sup> | &nbsp;&nbsp; 453<br> %<br>| &nbsp;&nbsp;&nbsp; 464<br> %<br>| &nbsp;&nbsp;&nbsp; 550<br> %<br>| &nbsp;&nbsp;&nbsp; 546<br> %<br>| &nbsp;&nbsp;&nbsp; 703<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |
| <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). | <sup>(g)</sup> Includes mortgage dollar roll transactions ("MDRs"). |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following fund (the "Fund"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> U.S. Fixed Income Balanced Risk Systematic<sup>(a)</sup> Diversified

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Formerly iShares U.S. Fixed Income Balanced Risk Factor ETF.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. The Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed (the "trade dates"). Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, and payment-in-kind interest are recognized daily on an accrual basis.

**Foreign Taxes:** The Fund may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Fund invests. These foreign taxes, if any, are paid by the Fund and are reflected in its Statement of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of October 31, 2024, if any, are disclosed in the Statement of Assets and Liabilities.

The Fund files withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Fund may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statement of Operations includes tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:**The Fund had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Fund is obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statement of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Fund may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Fund. Because such gains or losses are not taxable to the Fund and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Fund's tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by the Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Fund.

**Indemnifications:** In the normal course of business, the Fund enters into contracts that contain a variety of representations that provide general indemnification. The Fund's maximum exposure under these arrangements is unknown because it involves future potential claims against the Fund, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** The Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of the Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Fund's investment adviser, as the valuation designee for the Fund. The Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of the Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that the Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. SECURITIES AND OTHER INVESTMENTS***

**Asset-Backed and Mortgage-Backed Securities:** Asset-backed securities are generally issued as pass-through certificates or as debt instruments. Asset-backed securities issued as pass-through certificates represent undivided fractional ownership interests in an underlying pool of assets. Asset-backed securities issued as debt instruments, which are also known as collateralized obligations, are typically issued as the debt of a special purpose entity organized solely for the purpose of owning such assets and issuing such debt. Asset-backed securities are often backed by a pool of assets representing the obligations of a number of different parties. The yield characteristics of certain asset-backed securities may differ from traditional debt securities. One such major difference is that all or a principal part of the obligations may be prepaid at any time because the underlying assets (i.e., loans) may be prepaid at any time. As a result, a decrease in interest rates in the market may result in increases in the level of prepayments as borrowers, particularly mortgagors, refinance and repay their loans. An increased prepayment rate with respect to an asset-backed security

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

will have the effect of shortening the maturity of the security. In addition, a fund may subsequently have to reinvest the proceeds at lower interest rates. If a fund has purchased such an asset-backed security at a premium, a faster than anticipated prepayment rate could result in a loss of principal to the extent of the premium paid.

For mortgage pass-through securities (the "Mortgage Assets") there are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. For example, mortgage-related securities guaranteed by Ginnie Mae are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. However, mortgage-related securities issued by Freddie Mac and Fannie Mae, including Freddie Mac and Fannie Mae guaranteed mortgage pass-through certificates, which are solely the obligations of Freddie Mac and Fannie Mae, are not backed by or entitled to the full faith and credit of the United States, but are supported by the right of the issuer to borrow from the U.S. Treasury.

Non-agency mortgage-backed securities are securities issued by non-governmental issuers and have no direct or indirect government guarantees of payment and are subject to various risks. Non-agency mortgage loans are obligations of the borrowers thereunder only and are not typically insured or guaranteed by any other person or entity. The ability of a borrower to repay a loan is dependent upon the income or assets of the borrower. A number of factors, including a general economic downturn, acts of God, terrorism, social unrest and civil disturbances, may impair a borrower's ability to repay its loans.

**TBA Commitments:** TBA commitments are forward agreements for the purchase or sale of securities, including mortgage-backed securities for a fixed price, with payment and delivery on an agreed upon future settlement date. The specific securities to be delivered are not identified at the trade date. However, delivered securities must meet specified terms, including issuer, rate and mortgage terms. When entering into TBA commitments, a fund may take possession of or deliver the underlying mortgage-backed securities but can extend the settlement or roll the transaction. TBA commitments involve a risk of loss if the value of the security to be purchased or sold declines or increases, respectively, prior to settlement date, if there are expenses or delays in connection with the TBA transactions, or if the counterparty fails to complete the transaction.

To mitigate counterparty risk, a fund enters into a two-way collateral agreement for TBA transactions with certain counterparties. Under such agreement, the "in-the-money" party of a TBA transaction may at any time require the other party to pledge collateral assets (in the form of cash or securities) to offset any loss the in-the-money party would incur upon cancellation of the TBA transaction. A party is in-the-money if they are the buyer and the market value of the TBA transaction increases or if they are the seller and the market value of the TBA transaction decreases. Cash collateral received from the counterparty may be reinvested in money market funds, including those managed by the Fund's investment adviser, or its affiliates. Such collateral, if any, is noted in the Schedule of Investments and the obligation to return the collateral is presented as a liability in the Statement of Assets and Liabilities. Securities pledged as collateral by a fund, if any, are noted in the Schedule of Investments.

**Mortgage Dollar Roll Transactions:** The Fund may sell TBA mortgage-backed securities and simultaneously contract to repurchase substantially similar (i.e., same type, coupon and maturity) securities on a specific future date at an agreed upon price. During the period between the sale and repurchase, a fund is not entitled to receive interest and principal payments on the securities sold. Mortgage dollar roll transactions are treated as purchases and sales and a fund realizes gains and losses on these transactions. Mortgage dollar rolls involve the risk that the market value of the securities that a fund is required to purchase may decline below the agreed upon repurchase price of those securities.

**Securities Lending:** The Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by the Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, the Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in the Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statement of Assets and Liabilities.

Securities lending transactions are entered into by the Fund under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Fund, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Fund can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| U.S. Fixed Income Balanced Risk Systematic |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $1239444 | &nbsp;&nbsp;&nbsp; $(1239444) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 133498 | &nbsp;&nbsp;&nbsp; (133498) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 69245 | &nbsp;&nbsp;&nbsp; (69245) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 616936 | &nbsp;&nbsp;&nbsp; (616936) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 194641 | &nbsp;&nbsp;&nbsp; (194641) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 7229 | &nbsp;&nbsp;&nbsp; (7229) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 58256 | &nbsp;&nbsp;&nbsp; (58256) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 539664 | &nbsp;&nbsp;&nbsp; (539664) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 542474 | &nbsp;&nbsp;&nbsp; (542474) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 102956 | &nbsp;&nbsp;&nbsp; (102956) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 960898 | &nbsp;&nbsp;&nbsp; (960898) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 29869 | &nbsp;&nbsp;&nbsp; (29869) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 36866 | &nbsp;&nbsp;&nbsp; (36866) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 230994 | &nbsp;&nbsp;&nbsp; (230994) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 51424 | &nbsp;&nbsp;&nbsp; (51424) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 379653 | &nbsp;&nbsp;&nbsp; (379653) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Prime Services LLC | &nbsp;&nbsp; 16994 | &nbsp;&nbsp;&nbsp; (16994) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 202672 | &nbsp;&nbsp;&nbsp; (202672) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 115430 | &nbsp;&nbsp;&nbsp; (115430) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $5529143 | &nbsp;&nbsp;&nbsp; $(5529143) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by the Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, the Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. The Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by the Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Fund and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Fund is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statement of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statement of Assets and Liabilities. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statement of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statement of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of the Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Fund, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the Fund, BFA is entitled to an annual investment advisory fee of 0.25%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statement of Operations does not include acquired fund fees and expenses.

BFA has contractually agreed to waive a portion of its investment advisory fees for the iShares U.S. Fixed Income Balanced Risk Systematic ETF through February 28, 2029 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investments in other registered investment companies advised by BFA or its affiliates.

This amount is included in investment advisory fees waived in the Statement of Operations. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $654 |

---

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for the Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Fund.

**ETF Servicing Fees:** The Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Fund does not pay BRIL for ETF Services.

Prior to January 26, 2024 (date of conversion for iShares U.S. Fixed Income Balanced Risk Systematic ETF), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Fund, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. The Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees the Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. The Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, the Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, the Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by the Fund is shown as securities lending income – affiliated – net in its Statement of Operations. For the year ended October 31, 2024, the Fund paid BTC $5,200 for securities lending agent services.

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** The Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statement of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***7. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, including mortgage dollar rolls and excluding short-term securities and in-kind transactions, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *U.S. Government Securities* | *U.S. Government Securities* | *Other Securities* | *Other Securities* |
| *iShares ETF* | &nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* | &nbsp;&nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* |
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $333683771 | &nbsp;&nbsp;&nbsp; $331824011 | &nbsp;&nbsp;&nbsp; $29884092 | &nbsp;&nbsp;&nbsp; $28214040 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $8205451 | &nbsp;&nbsp;&nbsp; $— |

---

***8. INCOME TAX INFORMATION***

The Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is the Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Fund as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Fund's financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Fund's NAV.

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| U.S. Fixed Income Balanced Risk Systematic |  |  |
| Ordinary income | &nbsp;&nbsp; $3181572 | &nbsp;&nbsp;&nbsp; $2788641 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $311411 | &nbsp;&nbsp;&nbsp; $(14982819) | &nbsp;&nbsp;&nbsp; $110620 | &nbsp;&nbsp;&nbsp; $(14560788) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, amortization methods for premiums and discounts on fixed income securities and TBA transactions. 

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $97075740 | &nbsp;&nbsp;&nbsp; $1110701 | &nbsp;&nbsp;&nbsp; $(1060010) | &nbsp;&nbsp;&nbsp; $50691 |

---

***9. PRINCIPAL RISKS***

In the normal course of business, the Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Fund and its investments. The Fund's prospectus provides details of the risks to which the Fund is subject.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

BFA uses an indexing approach to try to achieve the Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Fund may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** The Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force the Fund to reinvest in lower yielding securities. The Fund may also be exposed to reinvestment risk, which is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below the Fund portfolio's current earnings rate.

**Counterparty Credit Risk:** The Fund may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Fund manages counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Fund to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Fund's exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statement of Assets and Liabilities, less any collateral held by the Fund.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Fund since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, the Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Fund.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within the Fund's portfolio are disclosed in its Schedule of Investments.

The Fund invests a significant portion of its assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Fund invests.

The Fund invests a significant portion of its assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Fund may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Fund's performance.

The Fund invests a significant portion of its assets in securities backed by commercial or residential mortgage loans or in issuers that hold mortgage and other asset-backed securities. When a fund concentrates its investments in this manner, it assumes a greater risk of prepayment or payment extension by securities issuers. Changes in economic conditions, including delinquencies and/or defaults on assets underlying these securities, can affect the value, income and/or liquidity of such positions. Investment percentages in these securities are presented in the Schedule of Investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***10. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by the Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of the Fund are not redeemable.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| U.S. Fixed Income Balanced Risk Systematic |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; $8560417 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— |
| Shares redeemed | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (150000)<br>| &nbsp;&nbsp;&nbsp; (12410824)<br>|
|  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; $8560417 | &nbsp;&nbsp;&nbsp; (150000)<br>| &nbsp;&nbsp;&nbsp; $(12410824)<br>|

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Fund using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, the Fund's custodian, and the Fund. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statement of Assets and Liabilities.

***11. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Fund through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of iShares U.S. Fixed Income Balanced Risk Systematic ETF

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of iShares U.S. Fixed Income Balanced Risk Systematic ETF (one of the funds constituting iShares Trust, referred to hereafter as the "Fund") as of October 31, 2024, the related statement of operations for the year ended October 31, 2024, the statement of changes in net assets for each of the two years in the period ended October 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2024, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2024 and the financial highlights for each of the five years in the period ended October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

------

Important Tax Information (unaudited)

The Fund hereby designates the following amount, or maximum amount allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $1708 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Fund hereby designates the following amount, or maximum amount allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $3235385 |

---

The Fund hereby designates the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| U.S. Fixed Income Balanced Risk Systematic | &nbsp;&nbsp; $2798754 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Fund, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Fund from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares U.S. Fixed Income Balanced Risk Systematic ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

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Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements and Additional Information

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Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

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Glossary of Terms Used in this Report

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| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CMT | Constant Maturity Treasury |
| PIK | Payment-in-kind |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |
| TBA | To-Be-Announced |

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2024 iShares Annual Financial Statements and Additional Information

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Fund's shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services, Limited, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **iShares Trust** |
| • iShares J.P. Morgan Broad USD Emerging Markets Bond ETF \| BEMB \| Cboe BZX Exchange |
| • iShares J.P. Morgan USD Emerging Markets Bond ETF \| EMB \| NASDAQ |

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**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 18 |
| [Statements of Operations](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 19 |
| [Statements of Changes in Net Assets](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 20 |
| [Financial Highlights](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 21 |
| [Notes to Financial Statements](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 23 |
| [Report of Independent Registered Public Accounting Firm](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_opinion-Footer-iSharesReport-179_1)  | &nbsp;&nbsp; 30 |
| [Important Tax Information](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 31 |
| [Additional Information](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 32 |
| [Board Review and Approval of Investment Advisory Contract](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 34 |
| [Glossary of Terms Used in this Report](#xx_b49a824c-af20-458e-9213-c9b8a64bbfe2_Abbreviations-Footer-iSharesReport-179_1)  | &nbsp;&nbsp; 39 |

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Schedule of Investments

October 31, 2024

**iShares® J.P. Morgan Broad USD Emerging Markets Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Argentina — 0.3%** | **Argentina — 0.3%** | **Argentina — 0.3%** |
| YPF SA, 9.00%, 06/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $150 | $154688 |
| **Azerbaijan — 0.4%** | **Azerbaijan — 0.4%** | **Azerbaijan — 0.4%** |
| Southern Gas Corridor CJSC, 6.88%, 03/24/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 203938 |
| **Brazil — 2.7%** | **Brazil — 2.7%** | **Brazil — 2.7%** |
| Banco do Brasil SA, 6.25%, 04/18/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 204500 |
| Braskem Netherlands Finance BV, 4.50%, 01/10/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 187060 |
| CSN Resources SA, 4.63%, 06/10/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 158375 |
| Itau Unibanco Holding SA/Cayman Island, 3.88%, <br> 04/15/31, (5-year CMT + 3.446%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 195750 |
| Petrobras Global Finance BV, 6.90%, 03/19/49 | &nbsp;&nbsp; 100 | 98656 |
| Samarco Mineracao SA, 9.00%, 06/30/31, <br> (9.00% PIK)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 108 | 101844 |
| Suzano Austria GmbH, 5.00%, 01/15/30 | &nbsp;&nbsp; 200 | 193710 |
| Vale Overseas Ltd., 8.25%, 01/17/34<sup>(e)</sup> | &nbsp;&nbsp; 100 | 120150 |
|  |  | 1260045 |
| **Chile — 1.9%** | **Chile — 1.9%** | **Chile — 1.9%** |
| Colbun SA, 3.15%, 03/06/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 179000 |
| Corp. Nacional del Cobre de Chile |  |  |
| 3.15%, 01/14/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 179375 |
| 4.50%, 08/01/47<sup>(a)</sup> | &nbsp;&nbsp; 200 | 160625 |
| Enel Chile SA, 4.88%, 06/12/28 | &nbsp;&nbsp; 100 | 99013 |
| Inversiones CMPC SA, 6.13%, 02/26/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 203800 |
| Latam Airlines Group SA, 13.38%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 50 | 57563 |
|  |  | 879376 |
| **China — 5.7%** | **China — 5.7%** | **China — 5.7%** |
| Alibaba Group Holding Ltd., 4.50%, 11/28/34 | &nbsp;&nbsp; 200 | 190354 |
| Amipeace Ltd., 2.25%, 10/22/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 174646 |
| Bank of Communications Co. Ltd., 3.80%, <br> (5-year CMT + 3.345%)<sup>(a)(c)(f)</sup><br>| &nbsp;&nbsp; 200 | 197125 |
| BOC Aviation Ltd., 3.50%, 09/18/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 193142 |
| China Cinda 2020 I Management Ltd., 3.13%, <br> 03/18/30<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 179418 |
| China Construction Bank Corp., 2.45%, 06/24/30, <br> (5-year CMT + 2.150%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 196620 |
| CNAC HK Finbridge Co. Ltd., 4.13%, 07/19/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 195750 |
| CNOOC Finance 2013 Ltd., 2.88%, 09/30/29 | &nbsp;&nbsp; 200 | 185792 |
| Huarong Finance II Co. Ltd., 4.88%, 11/22/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197188 |
| Industrial & Commercial Bank of China Ltd., 3.20%, <br> (5-year CMT + 2.368%)<sup>(a)(c)(f)</sup><br>| &nbsp;&nbsp; 200 | 194000 |
| Prosus NV, 4.19%, 01/19/32<sup>(a)</sup> | &nbsp;&nbsp; 300 | 273281 |
| Sinopec Group Overseas Development 2018 Ltd., <br> 2.70%, 05/13/30<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 182978 |
| Tencent Holdings Ltd. |  |  |
| 2.88%, 04/22/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 177834 |
| 3.84%, 04/22/51<sup>(a)</sup> | &nbsp;&nbsp; 200 | 156474 |
|  |  | 2694602 |
| **Colombia — 0.8%** | **Colombia — 0.8%** | **Colombia — 0.8%** |
| Avianca Midco 2 PLC, 9.00%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 100 | 98469 |
| Ecopetrol SA |  |  |
| 4.63%, 11/02/31 | &nbsp;&nbsp; 100 | 82400 |
| 6.88%, 04/29/30 | &nbsp;&nbsp; 100 | 97370 |
| 8.88%, 01/13/33 | &nbsp;&nbsp; 100 | 102220 |
|  |  | 380459 |
| **Ghana — 0.4%** | **Ghana — 0.4%** | **Ghana — 0.4%** |
| Tullow Oil PLC, 10.25%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 183750 |

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| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Guatemala — 0.8%** | **Guatemala — 0.8%** | **Guatemala — 0.8%** |
| CT Trust, 5.13%, 02/03/32<sup>(a)</sup> | &nbsp;&nbsp; $200 | $181250 |
| Millicom International Cellular SA, 4.50%, 04/27/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 179500 |
|  |  | 360750 |
| **Hong Kong — 1.9%** | **Hong Kong — 1.9%** | **Hong Kong — 1.9%** |
| AIA Group Ltd., 3.20%, 09/16/40<sup>(a)</sup> | &nbsp;&nbsp; 200 | 153526 |
| Bank of East Asia Ltd. (The), 6.75%, 06/27/34, <br> (5-year CMT + 2.550%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 250 | 255100 |
| Melco Resorts Finance Ltd., 5.25%, 04/26/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 195746 |
| Prudential Funding Asia PLC, 3.13%, 04/14/30 | &nbsp;&nbsp; 50 | 46093 |
| Seaspan Corp., 5.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 50 | 47125 |
| Wheelock MTN BVI Ltd., 2.38%, 01/25/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 193062 |
|  |  | 890652 |
| **India — 2.4%** | **India — 2.4%** | **India — 2.4%** |
| Adani Ports & Special Economic Zone Ltd., 4.38%, <br> 07/03/29<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 185500 |
| Greenko Dutch BV, 3.85%, 03/29/26<sup>(a)</sup> | &nbsp;&nbsp; 179 | 172198 |
| JSW Steel Ltd., 3.95%, 04/05/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 191687 |
| Network i2i Ltd., 5.65%, (5-year CMT + 4.274%)<sup>(a)(c)(f)</sup> | &nbsp;&nbsp; 200 | 199730 |
| Power Finance Corp. Ltd., 3.95%, 04/23/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 187375 |
| Reliance Industries Ltd., 2.88%, 01/12/32<sup>(a)</sup> | &nbsp;&nbsp; 250 | 215547 |
|  |  | 1152037 |
| **Indonesia — 1.2%** | **Indonesia — 1.2%** | **Indonesia — 1.2%** |
| Freeport Indonesia PT, 5.32%, 04/14/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197000 |
| Minejesa Capital BV, 4.63%, 08/10/30<sup>(a)</sup> | &nbsp;&nbsp; 172 | 167729 |
| Pertamina Persero PT, 5.63%, 05/20/43<sup>(a)</sup> | &nbsp;&nbsp; 200 | 195182 |
|  |  | 559911 |
| **Israel — 1.8%** | **Israel — 1.8%** | **Israel — 1.8%** |
| Energian Israel Finance Ltd. |  |  |
| 4.88%, 03/30/26<sup>(g)</sup> | &nbsp;&nbsp; 50 | 48469 |
| 5.88%, 03/30/31<sup>(g)</sup> | &nbsp;&nbsp; 50 | 42545 |
| Israel Electric Corp. Ltd., 3.75%, 02/22/32<sup>(g)</sup> | &nbsp;&nbsp; 200 | 170224 |
| Leviathan Bond Ltd., 6.50%, 06/30/27<sup>(g)</sup> | &nbsp;&nbsp; 100 | 94563 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| 3.15%, 10/01/26 | &nbsp;&nbsp; 250 | 238125 |
| 4.10%, 10/01/46 | &nbsp;&nbsp; 100 | 70068 |
| 5.13%, 05/09/29 | &nbsp;&nbsp; 200 | 194688 |
|  |  | 858682 |
| **Kazakhstan — 0.3%** | **Kazakhstan — 0.3%** | **Kazakhstan — 0.3%** |
| KazMunayGas National Co. JSC, 3.50%, 04/14/33<sup>(a)</sup> | &nbsp;&nbsp; 200 | 168000 |
| **Kuwait — 0.8%** | **Kuwait — 0.8%** | **Kuwait — 0.8%** |
| MEGlobal BV, 2.63%, 04/28/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 181500 |
| NBK Tier 1 Financing 2 Ltd., 4.50%, <br> (6-year CMT + 2.832%)<sup>(a)(c)(f)</sup><br>| &nbsp;&nbsp; 200 | 196062 |
|  |  | 377562 |
| **Luxembourg — 0.4%** | **Luxembourg — 0.4%** | **Luxembourg — 0.4%** |
| Altice Financing SA, 5.00%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 168016 |
| **Macau — 1.0%** | **Macau — 1.0%** | **Macau — 1.0%** |
| Sands China Ltd., 2.85%, 03/08/29 | &nbsp;&nbsp; 300 | 268968 |
| Wynn Macau Ltd., 5.63%, 08/26/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 192010 |
|  |  | 460978 |
| **Malaysia — 1.5%** | **Malaysia — 1.5%** | **Malaysia — 1.5%** |
| Axiata SPV2 Bhd, 2.16%, 08/19/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 171368 |
| Gohl Capital Ltd., 4.25%, 01/24/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 195250 |
| Petronas Capital Ltd. |  |  |
| 2.48%, 01/28/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 169400 |
| 4.55%, 04/21/50<sup>(a)</sup> | &nbsp;&nbsp; 200 | 177036 |
|  |  | 713054 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan Broad USD Emerging Markets Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mexico — 2.9%** | **Mexico — 2.9%** | **Mexico — 2.9%** |
| America Movil SAB de CV, 4.70%, 07/21/32 | &nbsp;&nbsp; $200 | $193375 |
| BBVA Bancomer SA/Texas, 5.13%, 01/18/33, <br> (5-year CMT + 2.650%)<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 187000 |
| Cemex SAB de CV, 3.88%, 07/11/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 178000 |
| Coca-Cola Femsa SAB de CV, 1.85%, 09/01/32 | &nbsp;&nbsp; 150 | 118884 |
| Grupo Televisa SAB, 6.63%, 01/15/40 | &nbsp;&nbsp; 50 | 47333 |
| Petroleos Mexicanos |  |  |
| 6.38%, 01/23/45<sup>(e)</sup> | &nbsp;&nbsp; 100 | 69875 |
| 6.63%, 06/15/35<sup>(e)</sup> | &nbsp;&nbsp; 30 | 24473 |
| 6.70%, 02/16/32 | &nbsp;&nbsp; 100 | 88719 |
| 6.75%, 09/21/47 | &nbsp;&nbsp; 200 | 142690 |
| 6.88%, 08/04/26 | &nbsp;&nbsp; 100 | 99750 |
| 7.69%, 01/23/50 | &nbsp;&nbsp; 100 | 77690 |
| 8.75%, 06/02/29<sup>(e)</sup> | &nbsp;&nbsp; 100 | 101031 |
| Southern Copper Corp., 6.75%, 04/16/40 | &nbsp;&nbsp; 50 | 55078 |
|  |  | 1383898 |
| **Morocco — 0.4%** | **Morocco — 0.4%** | **Morocco — 0.4%** |
| OCP SA, 6.88%, 04/25/44<sup>(a)</sup> | &nbsp;&nbsp; 200 | 196562 |
| **Panama — 0.7%** | **Panama — 0.7%** | **Panama — 0.7%** |
| Aeropuerto Internacional de Tocumen SA, 5.13%, <br> 08/11/61<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 151000 |
| C&W Senior Finance Ltd., 6.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197978 |
|  |  | 348978 |
| **Peru — 0.9%** | **Peru — 0.9%** | **Peru — 0.9%** |
| Banco de Credito del Peru SA, 3.13%, 07/01/30, <br> (5-year CMT + 3.000%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 100 | 97420 |
| Consorcio Transmantaro SA, 4.70%, 04/16/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 187700 |
| Petroleos del Peru SA, 4.75%, 06/19/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 152500 |
|  |  | 437620 |
| **Philippines — 0.4%** | **Philippines — 0.4%** | **Philippines — 0.4%** |
| San Miguel Global Power Holdings Corp., 8.75%, <br> (5-year CMT + 7.732%)<sup>(a)(c)(f)</sup><br>| &nbsp;&nbsp; 200 | 208000 |
| **Qatar — 1.1%** | **Qatar — 1.1%** | **Qatar — 1.1%** |
| Ooredoo International Finance Ltd., 4.50%, 01/31/43<sup>(a)</sup> | &nbsp;&nbsp; 200 | 184813 |
| Qatar Energy, 3.13%, 07/12/41<sup>(a)</sup> | &nbsp;&nbsp; 200 | 151500 |
| QNB Finance Ltd., 1.38%, 01/26/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 191000 |
|  |  | 527313 |
| **Saudi Arabia — 2.4%** | **Saudi Arabia — 2.4%** | **Saudi Arabia — 2.4%** |
| Gaci First Investment Co., 5.25%, 10/13/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 200375 |
| Greensaif Pipelines Bidco SARL, 6.51%, 02/23/42<sup>(a)</sup> | &nbsp;&nbsp; 200 | 208062 |
| Riyad Sukuk Ltd., 3.17%, 02/25/30, <br> (5-year CMT + 1.791%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 197750 |
| SA Global Sukuk Ltd., 2.69%, 06/17/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 174188 |
| Saudi Arabian Oil Co., 4.38%, 04/16/49<sup>(a)</sup> | &nbsp;&nbsp; 200 | 165557 |
| Saudi Electricity Sukuk Programme Co., 5.19%, <br> 02/13/34<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 202188 |
|  |  | 1148120 |
| **Singapore — 1.6%** | **Singapore — 1.6%** | **Singapore — 1.6%** |
| DBS Group Holdings Ltd., 1.82%, 03/10/31, <br> (5-year CMT + 1.100%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 191375 |
| Oversea-Chinese Banking Corp. Ltd., 5.52%, 05/21/34, <br> (5-year CMT + 1.030%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 202910 |
| SingTel Group Treasury Pte Ltd., 2.38%, 08/28/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 180978 |
| United Overseas Bank Ltd., 2.00%, 10/14/31, <br> (5-year CMT + 1.230%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 188354 |
|  |  | 763617 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **South Africa — 1.1%** | **South Africa — 1.1%** | **South Africa — 1.1%** |
| Anglo American Capital PLC |  |  |
| 2.88%, 03/17/31<sup>(a)</sup> | &nbsp;&nbsp; $200 | $174562 |
| 3.95%, 09/10/50<sup>(a)</sup> | &nbsp;&nbsp; 200 | 151850 |
| Sasol Financing USA LLC, 6.50%, 09/27/28 | &nbsp;&nbsp; 200 | 194438 |
|  |  | 520850 |
| **South Korea — 1.7%** | **South Korea — 1.7%** | **South Korea — 1.7%** |
| LG Energy Solution Ltd., 5.50%, 07/02/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197792 |
| POSCO, 5.75%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 204106 |
| Shinhan Bank Co. Ltd., 1.38%, 10/21/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 187540 |
| SK Hynix Inc., 6.38%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 207160 |
|  |  | 796598 |
| **Taiwan — 1.3%** | **Taiwan — 1.3%** | **Taiwan — 1.3%** |
| TSMC Arizona Corp. |  |  |
| 3.13%, 10/25/41 | &nbsp;&nbsp; 200 | 157558 |
| 3.88%, 04/22/27 | &nbsp;&nbsp; 300 | 294633 |
| TSMC Global Ltd., 2.25%, 04/23/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 171896 |
|  |  | 624087 |
| **Thailand — 1.1%** | **Thailand — 1.1%** | **Thailand — 1.1%** |
| Bangkok Bank PCL/Hong Kong, 3.73%, 09/25/34, <br> (5-year CMT + 1.900%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 182406 |
| Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31, <br> (5-year CMT + 1.700%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 190646 |
| Thaioil Treasury Center Co. Ltd., 3.50%, 10/17/49<sup>(a)</sup> | &nbsp;&nbsp; 200 | 136188 |
|  |  | 509240 |
| **Turkey — 0.9%** | **Turkey — 0.9%** | **Turkey — 0.9%** |
| Turkiye Vakiflar Bankasi TAO, 8.99%, 10/05/34, <br> (5-year CMT + 4.669%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 206750 |
| Yapi ve Kredi Bankasi A/S, 9.25%, 01/17/34, <br> (5-year CMT + 5.278%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200 | 210375 |
|  |  | 417125 |
| **United Arab Emirates — 2.5%** | **United Arab Emirates — 2.5%** | **United Arab Emirates — 2.5%** |
| Abu Dhabi National Energy Co. PJSC, 6.50%, <br> 10/27/36<sup>(a)</sup><br>| &nbsp;&nbsp; 100 | 112625 |
| DIB Sukuk Ltd., 4.80%, 08/16/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 200437 |
| DP World Ltd./United Arab Emirates, 6.85%, 07/02/37<sup>(a)</sup> | &nbsp;&nbsp; 100 | 110250 |
| Emirates NBD Bank PJSC, 5.88%, 10/11/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 207750 |
| First Abu Dhabi Bank PJSC, 4.50%, <br> (5-year CMT + 4.138%)<sup>(a)(c)(f)</sup><br>| &nbsp;&nbsp; 200 | 195688 |
| Galaxy Pipeline Assets Bidco Ltd., 2.16%, 03/31/34<sup>(a)</sup> | &nbsp;&nbsp; 155 | 134291 |
| MDGH GMTN RSC Ltd., 5.50%, 04/28/33<sup>(a)</sup> | &nbsp;&nbsp; 200 | 205500 |
|  |  | 1166541 |
| **United Kingdom — 2.3%** | **United Kingdom — 2.3%** | **United Kingdom — 2.3%** |
| CK Hutchison International 19 II Ltd., 2.75%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 273171 |
| Standard Chartered PLC |  |  |
| 4.64%, 04/01/31, (1-year CMT + 3.850%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 200 | 194214 |
| 5.91%, 05/14/35, (1-year CMT + 1.450%)<sup>(a)</sup> | &nbsp;&nbsp; 200 | 204942 |
| 6.17%, 01/09/27, (1-year CMT + 2.050%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 200 | 202372 |
| 6.30%, 01/09/29, (1-year CMT + 2.450%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 200 | 206484 |
|  |  | 1081183 |
| **United States — 0.4%** | **United States — 0.4%** | **United States — 0.4%** |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS <br> Lux Co. SARL<br>|  |  |
| 3.00%, 05/15/32 | &nbsp;&nbsp; 100 | 84077 |
| 5.75%, 04/01/33 | &nbsp;&nbsp; 87 | 87733 |
|  |  | 171810 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan Broad USD Emerging Markets Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Zambia — 0.4%** | **Zambia — 0.4%** | **Zambia — 0.4%** |
| First Quantum Minerals Ltd., 6.88%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; $200 | $197678 |
| **Total Corporate Bonds & Notes — 46.4%** <br>**(Cost: $21,435,949)** | **Total Corporate Bonds & Notes — 46.4%** <br>**(Cost: $21,435,949)** | 21965720 |
| **Foreign Government Obligations**<sup>(h)</sup> | **Foreign Government Obligations**<sup>(h)</sup> | **Foreign Government Obligations**<sup>(h)</sup> |
| **Angola — 0.6%** | **Angola — 0.6%** | **Angola — 0.6%** |
| Angolan Government International Bond, 8.75%, <br> 04/14/32<sup>(a)</sup><br>| &nbsp;&nbsp; 300 | 271173 |
| **Argentina — 1.8%** | **Argentina — 1.8%** | **Argentina — 1.8%** |
| Argentine Republic Government International Bond |  |  |
| 0.75%, 07/09/30<sup>(b)</sup> | &nbsp;&nbsp; 413 | 276782 |
| 1.00%, 07/09/29 | &nbsp;&nbsp; 50 | 35750 |
| 3.50%, 07/09/41<sup>(b)(e)</sup> | &nbsp;&nbsp; 220 | 112750 |
| 4.13%, 07/09/46<sup>(b)(e)</sup> | &nbsp;&nbsp; 50 | 28625 |
| 5.00%, 07/09/35<sup>(b)</sup> | &nbsp;&nbsp; 520 | 287300 |
| 5.00%, 01/09/38<sup>(b)(e)</sup> | &nbsp;&nbsp; 225 | 134213 |
|  |  | 875420 |
| **Bahrain — 1.7%** | **Bahrain — 1.7%** | **Bahrain — 1.7%** |
| Bahrain Government International Bond |  |  |
| 5.63%, 09/30/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 191500 |
| 5.63%, 05/18/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 185312 |
| 7.38%, 05/14/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 210788 |
| CBB International Sukuk Programme Co., 6.25%, <br> 10/18/30<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 206875 |
|  |  | 794475 |
| **Brazil — 1.2%** | **Brazil — 1.2%** | **Brazil — 1.2%** |
| Brazilian Government International Bond |  |  |
| 3.88%, 06/12/30 | &nbsp;&nbsp; 200 | 181848 |
| 5.63%, 01/07/41 | &nbsp;&nbsp; 100 | 90370 |
| 5.63%, 02/21/47 | &nbsp;&nbsp; 200 | 170574 |
| 8.25%, 01/20/34 | &nbsp;&nbsp; 100 | 115300 |
|  |  | 558092 |
| **Chile — 1.1%** | **Chile — 1.1%** | **Chile — 1.1%** |
| Chile Government International Bond |  |  |
| 2.45%, 01/31/31 | &nbsp;&nbsp; 200 | 173800 |
| 4.00%, 01/31/52<sup>(e)</sup> | &nbsp;&nbsp; 200 | 156438 |
| 4.34%, 03/07/42 | &nbsp;&nbsp; 200 | 173800 |
|  |  | 504038 |
| **China — 0.4%** | **China — 0.4%** | **China — 0.4%** |
| China Government International Bond, 1.75%, <br> 10/26/31<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 171962 |
| **Colombia — 1.7%** | **Colombia — 1.7%** | **Colombia — 1.7%** |
| Colombia Government International Bond |  |  |
| 4.13%, 02/22/42 | &nbsp;&nbsp; 200 | 127200 |
| 4.13%, 05/15/51 | &nbsp;&nbsp; 200 | 116500 |
| 4.50%, 03/15/29 | &nbsp;&nbsp; 200 | 185500 |
| 6.13%, 01/18/41 | &nbsp;&nbsp; 200 | 164200 |
| 8.00%, 04/20/33 | &nbsp;&nbsp; 200 | 205300 |
|  |  | 798700 |
| **Costa Rica — 0.4%** | **Costa Rica — 0.4%** | **Costa Rica — 0.4%** |
| Costa Rica Government International Bond, 7.30%, <br> 11/13/54<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 211400 |
| **Dominican Republic — 2.0%** | **Dominican Republic — 2.0%** | **Dominican Republic — 2.0%** |
| Dominican Republic International Bond |  |  |
| 4.50%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; 150 | 139125 |
| 4.88%, 09/23/32<sup>(a)</sup> | &nbsp;&nbsp; 150 | 136650 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Dominican Republic (continued)** | **Dominican Republic (continued)** | **Dominican Republic (continued)** |
| 5.30%, 01/21/41<sup>(a)</sup> | &nbsp;&nbsp; $150 | $131345 |
| 5.50%, 02/22/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 196000 |
| 6.40%, 06/05/49<sup>(a)</sup> | &nbsp;&nbsp; 150 | 145219 |
| 6.85%, 01/27/45<sup>(a)</sup> | &nbsp;&nbsp; 100 | 101450 |
| 7.45%, 04/30/44<sup>(a)</sup> | &nbsp;&nbsp; 100 | 108250 |
|  |  | 958039 |
| **Ecuador — 0.7%** | **Ecuador — 0.7%** | **Ecuador — 0.7%** |
| Ecuador Government International Bond |  |  |
| 0.00%, 07/31/30<sup>(a)(i)</sup> | &nbsp;&nbsp; 25 | 13625 |
| 5.00%, 07/31/40<sup>(a)(b)</sup> | &nbsp;&nbsp; 120 | 60526 |
| 5.50%, 07/31/35<sup>(a)(b)</sup> | &nbsp;&nbsp; 300 | 165600 |
| 6.90%, 07/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 155 | 106562 |
|  |  | 346313 |
| **Egypt — 1.9%** | **Egypt — 1.9%** | **Egypt — 1.9%** |
| Egypt Government International Bond |  |  |
| 6.59%, 02/21/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 189356 |
| 7.30%, 09/30/33<sup>(a)</sup> | &nbsp;&nbsp; 200 | 168688 |
| 7.60%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 191102 |
| 7.63%, 05/29/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 175000 |
| 8.88%, 05/29/50<sup>(a)</sup> | &nbsp;&nbsp; 200 | 162250 |
|  |  | 886396 |
| **El Salvador — 0.2%** | **El Salvador — 0.2%** | **El Salvador — 0.2%** |
| El Salvador Government International Bond, 7.12%, <br> 01/20/50<sup>(a)</sup><br>| &nbsp;&nbsp; 150 | 114450 |
| **Ghana — 0.3%** | **Ghana — 0.3%** | **Ghana — 0.3%** |
| Ghana Government International Bond |  |  |
| 0.00%, 07/03/26<sup>(a)(i)</sup> | &nbsp;&nbsp; 10 | 8918 |
| 0.00%, 01/03/30<sup>(a)(i)</sup> | &nbsp;&nbsp; 17 | 12588 |
| 5.00%, 07/03/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 72 | 62345 |
| 5.00%, 07/03/35<sup>(a)(b)</sup> | &nbsp;&nbsp; 104 | 72428 |
|  |  | 156279 |
| **Hungary — 1.6%** | **Hungary — 1.6%** | **Hungary — 1.6%** |
| Hungary Government International Bond |  |  |
| 5.25%, 06/16/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 297187 |
| 5.50%, 06/16/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 195688 |
| 6.75%, 09/25/52<sup>(a)</sup> | &nbsp;&nbsp; 200 | 212875 |
| 7.63%, 03/29/41 | &nbsp;&nbsp; 40 | 45700 |
|  |  | 751450 |
| **India — 0.4%** | **India — 0.4%** | **India — 0.4%** |
| Export-Import Bank of India, 3.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 183656 |
| **Indonesia — 2.4%** | **Indonesia — 2.4%** | **Indonesia — 2.4%** |
| Indonesia Government International Bond |  |  |
| 3.70%, 10/30/49 | &nbsp;&nbsp; 200 | 156188 |
| 3.85%, 10/15/30 | &nbsp;&nbsp; 200 | 189937 |
| 4.55%, 01/11/28 | &nbsp;&nbsp; 200 | 199437 |
| 4.85%, 01/11/33 | &nbsp;&nbsp; 200 | 197250 |
| Perusahaan Penerbit SBSN Indonesia III |  |  |
| 1.50%, 06/09/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 190432 |
| 5.20%, 07/02/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 202400 |
|  |  | 1135644 |
| **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** |
| Ivory Coast Government International Bond, 8.25%, <br> 01/30/37<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 199062 |
| **Jamaica — 0.5%** | **Jamaica — 0.5%** | **Jamaica — 0.5%** |
| Jamaica Government International Bond, 8.00%, <br> 03/15/39<br>| &nbsp;&nbsp; 200 | 237700 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan Broad USD Emerging Markets Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Jordan — 0.4%** | **Jordan — 0.4%** | **Jordan — 0.4%** |
| Jordan Government International Bond, 5.85%, <br> 07/07/30<sup>(a)</sup><br>| &nbsp;&nbsp; $200 | $188938 |
| **Kazakhstan — 0.5%** | **Kazakhstan — 0.5%** | **Kazakhstan — 0.5%** |
| Kazakhstan Government International Bond, 6.50%, <br> 07/21/45<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 223813 |
| **Kenya — 0.4%** | **Kenya — 0.4%** | **Kenya — 0.4%** |
| Republic of Kenya Government International Bond, <br> 8.00%, 05/22/32<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 183500 |
| **Kuwait — 0.4%** | **Kuwait — 0.4%** | **Kuwait — 0.4%** |
| Kuwait International Government Bond, 3.50%, <br> 03/20/27<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 196300 |
| **Lebanon — 0.1%** | **Lebanon — 0.1%** | **Lebanon — 0.1%** |
| Lebanon Government International Bond |  |  |
| 6.60%, 11/27/26<sup>(a)(j)(k)</sup> | &nbsp;&nbsp; 200 | 16500 |
| 6.65%, 02/26/30<sup>(a)(j)(k)</sup> | &nbsp;&nbsp; 150 | 12375 |
|  |  | 28875 |
| **Mexico — 1.9%** | **Mexico — 1.9%** | **Mexico — 1.9%** |
| Mexico Government International Bond |  |  |
| 3.50%, 02/12/34 | &nbsp;&nbsp; 200 | 162812 |
| 4.28%, 08/14/41 | &nbsp;&nbsp; 200 | 154188 |
| 5.00%, 04/27/51 | &nbsp;&nbsp; 200 | 157875 |
| 5.55%, 01/21/45<sup>(e)</sup> | &nbsp;&nbsp; 50 | 45219 |
| 6.00%, 05/07/36 | &nbsp;&nbsp; 200 | 194312 |
| 6.35%, 02/09/35 | &nbsp;&nbsp; 200 | 200700 |
|  |  | 915106 |
| **Morocco — 0.4%** | **Morocco — 0.4%** | **Morocco — 0.4%** |
| Morocco Government International Bond, 6.50%, <br> 09/08/33<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 210000 |
| **Nigeria — 1.2%** | **Nigeria — 1.2%** | **Nigeria — 1.2%** |
| Nigeria Government International Bond |  |  |
| 7.70%, 02/23/38<sup>(a)</sup> | &nbsp;&nbsp; 200 | 162187 |
| 8.38%, 03/24/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 192592 |
| 8.75%, 01/21/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 191012 |
|  |  | 545791 |
| **Oman — 1.9%** | **Oman — 1.9%** | **Oman — 1.9%** |
| Oman Government International Bond |  |  |
| 5.63%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; 300 | 301125 |
| 6.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 204246 |
| 6.75%, 10/28/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 207875 |
| 6.75%, 01/17/48<sup>(a)</sup> | &nbsp;&nbsp; 200 | 206250 |
|  |  | 919496 |
| **Pakistan — 0.4%** | **Pakistan — 0.4%** | **Pakistan — 0.4%** |
| Pakistan Global Sukuk Programme Co. Ltd. (The), <br> 7.95%, 01/31/29<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 185813 |
| **Panama — 1.8%** | **Panama — 1.8%** | **Panama — 1.8%** |
| Panama Government International Bond |  |  |
| 2.25%, 09/29/32 | &nbsp;&nbsp; 300 | 219450 |
| 3.16%, 01/23/30 | &nbsp;&nbsp; 200 | 172012 |
| 3.87%, 07/23/60 | &nbsp;&nbsp; 200 | 112180 |
| 4.50%, 04/16/50 | &nbsp;&nbsp; 200 | 132776 |
| 8.00%, 03/01/38 | &nbsp;&nbsp; 200 | 210500 |
|  |  | 846918 |
| **Paraguay — 0.4%** | **Paraguay — 0.4%** | **Paraguay — 0.4%** |
| Paraguay Government International Bond, 4.95%, <br> 04/28/31<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 194563 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Peru — 1.6%** | **Peru — 1.6%** | **Peru — 1.6%** |
| Peruvian Government International Bond |  |  |
| 2.78%, 01/23/31 | &nbsp;&nbsp; $200 | $173500 |
| 3.00%, 01/15/34 | &nbsp;&nbsp; 100 | 82281 |
| 3.30%, 03/11/41 | &nbsp;&nbsp; 50 | 37437 |
| 3.55%, 03/10/51 | &nbsp;&nbsp; 50 | 35375 |
| 3.60%, 01/15/72 | &nbsp;&nbsp; 100 | 64094 |
| 5.38%, 02/08/35 | &nbsp;&nbsp; 150 | 147525 |
| 5.63%, 11/18/50 | &nbsp;&nbsp; 200 | 195375 |
|  |  | 735587 |
| **Philippines — 2.1%** | **Philippines — 2.1%** | **Philippines — 2.1%** |
| Philippine Government International Bond |  |  |
| 1.65%, 06/10/31 | &nbsp;&nbsp; 200 | 164000 |
| 3.00%, 02/01/28 | &nbsp;&nbsp; 200 | 189687 |
| 3.20%, 07/06/46 | &nbsp;&nbsp; 200 | 143563 |
| 3.75%, 01/14/29 | &nbsp;&nbsp; 200 | 193125 |
| 3.95%, 01/20/40 | &nbsp;&nbsp; 200 | 173063 |
| 6.38%, 10/23/34 | &nbsp;&nbsp; 100 | 110406 |
|  |  | 973844 |
| **Poland — 1.9%** | **Poland — 1.9%** | **Poland — 1.9%** |
| Bank Gospodarstwa Krajowego, 5.38%, 05/22/33<sup>(a)</sup> | &nbsp;&nbsp; 200 | 198692 |
| Republic of Poland Government International Bond |  |  |
| 3.25%, 04/06/26 | &nbsp;&nbsp; 60 | 58900 |
| 4.88%, 10/04/33 | &nbsp;&nbsp; 100 | 98495 |
| 5.13%, 09/18/34 | &nbsp;&nbsp; 100 | 98828 |
| 5.50%, 11/16/27 | &nbsp;&nbsp; 70 | 72085 |
| 5.50%, 04/04/53 | &nbsp;&nbsp; 130 | 125809 |
| 5.50%, 03/18/54 | &nbsp;&nbsp; 200 | 193042 |
| 5.75%, 11/16/32 | &nbsp;&nbsp; 70 | 73005 |
|  |  | 918856 |
| **Qatar — 1.9%** | **Qatar — 1.9%** | **Qatar — 1.9%** |
| Qatar Government International Bond |  |  |
| 3.75%, 04/16/30<sup>(a)</sup> | &nbsp;&nbsp; 200 | 193062 |
| 4.40%, 04/16/50<sup>(a)</sup> | &nbsp;&nbsp; 200 | 177000 |
| 4.75%, 05/29/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 202625 |
| 5.10%, 04/23/48<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197500 |
| 9.75%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 100 | 126688 |
|  |  | 896875 |
| **Romania — 1.5%** | **Romania — 1.5%** | **Romania — 1.5%** |
| Romanian Government International Bond |  |  |
| 3.00%, 02/14/31<sup>(a)</sup> | &nbsp;&nbsp; 100 | 84563 |
| 3.63%, 03/27/32<sup>(a)</sup> | &nbsp;&nbsp; 100 | 85781 |
| 4.00%, 02/14/51<sup>(a)</sup> | &nbsp;&nbsp; 100 | 67313 |
| 5.25%, 11/25/27<sup>(a)</sup> | &nbsp;&nbsp; 150 | 149062 |
| 6.13%, 01/22/44<sup>(a)</sup> | &nbsp;&nbsp; 100 | 94063 |
| 6.38%, 01/30/34<sup>(a)</sup> | &nbsp;&nbsp; 100 | 99812 |
| 7.63%, 01/17/53<sup>(a)</sup> | &nbsp;&nbsp; 100 | 107685 |
|  |  | 688279 |
| **Saudi Arabia — 2.7%** | **Saudi Arabia — 2.7%** | **Saudi Arabia — 2.7%** |
| Saudi Government International Bond |  |  |
| 3.25%, 10/26/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 194750 |
| 3.63%, 03/04/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 193500 |
| 3.75%, 01/21/55<sup>(a)</sup> | &nbsp;&nbsp; 200 | 140438 |
| 4.38%, 04/16/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197375 |
| 4.50%, 10/26/46<sup>(a)</sup> | &nbsp;&nbsp; 200 | 168500 |
| 5.00%, 04/17/49<sup>(a)</sup> | &nbsp;&nbsp; 200 | 179562 |
| 5.50%, 10/25/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 206437 |
|  |  | 1280562 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan Broad USD Emerging Markets Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Senegal — 0.3%** | **Senegal — 0.3%** | **Senegal — 0.3%** |
| Senegal Government International Bond, 6.25%, <br> 05/23/33<sup>(a)</sup><br>| &nbsp;&nbsp; $200 | $164890 |
| **Serbia — 0.4%** | **Serbia — 0.4%** | **Serbia — 0.4%** |
| Serbia International Bond, 6.00%, 06/12/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 200000 |
| **South Africa — 1.1%** | **South Africa — 1.1%** | **South Africa — 1.1%** |
| Republic of South Africa Government International Bond |  |  |
| 4.85%, 09/27/27 | &nbsp;&nbsp; 200 | 195750 |
| 5.00%, 10/12/46 | &nbsp;&nbsp; 200 | 144500 |
| 5.88%, 04/20/32 | &nbsp;&nbsp; 200 | 191000 |
|  |  | 531250 |
| **South Korea — 0.8%** | **South Korea — 0.8%** | **South Korea — 0.8%** |
| Korea Electric Power Corp., 5.38%, 04/06/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 201563 |
| Korea Gas Corp., 3.88%, 07/13/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 196312 |
|  |  | 397875 |
| **Sri Lanka — 0.5%** | **Sri Lanka — 0.5%** | **Sri Lanka — 0.5%** |
| Sri Lanka Government International Bond, 6.20%, <br> 05/11/27<sup>(a)(j)(k)</sup><br>| &nbsp;&nbsp; 400 | 248500 |
| **Supranational — 0.8%** | **Supranational — 0.8%** | **Supranational — 0.8%** |
| Africa Finance Corp., 3.75%, 10/30/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 183750 |
| African Export-Import Bank (The), 3.99%, 09/21/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 185938 |
|  |  | 369688 |
| **Turkey — 3.0%** | **Turkey — 3.0%** | **Turkey — 3.0%** |
| Hazine Mustesarligi Varlik Kiralama AS, 9.76%, <br> 11/13/25<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 208500 |
| Turkey Government International Bond |  |  |
| 5.25%, 03/13/30 | &nbsp;&nbsp; 200 | 188050 |
| 6.00%, 03/25/27 | &nbsp;&nbsp; 200 | 202063 |
| 7.63%, 05/15/34 | &nbsp;&nbsp; 200 | 206187 |
| 9.88%, 01/15/28 | &nbsp;&nbsp; 200 | 223187 |
| Turkiye Government International Bond |  |  |
| 5.75%, 05/11/47 | &nbsp;&nbsp; 200 | 154500 |
| 9.38%, 01/19/33 | &nbsp;&nbsp; 200 | 228250 |
|  |  | 1410737 |
| **Ukraine — 0.6%** | **Ukraine — 0.6%** | **Ukraine — 0.6%** |
| Ukraine Government International Bond |  |  |
| 0.00%, 02/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 64 | 23498 |
| 0.00%, 02/01/35<sup>(a)(b)</sup> | &nbsp;&nbsp; 54 | 26278 |
| 0.00%, 02/01/36<sup>(a)(b)</sup> | &nbsp;&nbsp; 45 | 21784 |
| 1.75%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 22 | 12947 |
| 1.75%, 02/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 107 | 50153 |
| 1.75%, 02/01/35<sup>(a)(b)</sup> | &nbsp;&nbsp; 100 | 45759 |
| 1.75%, 02/01/35<sup>(b)(g)</sup> | &nbsp;&nbsp; 100 | 45750 |
| 1.75%, 02/01/36<sup>(a)(b)</sup> | &nbsp;&nbsp; 86 | 38426 |
|  |  | 264595 |
| **United Arab Emirates — 1.8%** | **United Arab Emirates — 1.8%** | **United Arab Emirates — 1.8%** |
| Abu Dhabi Government International Bond |  |  |
| 1.88%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 167394 |
| 3.13%, 10/11/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 192602 |
| 4.13%, 10/11/47<sup>(a)</sup> | &nbsp;&nbsp; 200 | 168320 |
| Finance Department Government of Sharjah, 4.00%, <br> 07/28/50<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 135375 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Arab Emirates (continued)** | **United Arab Emirates (continued)** | **United Arab Emirates (continued)** |
| UAE International Government Bond, 4.05%, <br> 07/07/32<sup>(a)</sup><br>| &nbsp;&nbsp; $200 | $192375 |
|  |  | 856066 |
| **Uruguay — 1.2%** | **Uruguay — 1.2%** | **Uruguay — 1.2%** |
| Oriental Republic of Uruguay, 5.25%, 09/10/60 | &nbsp;&nbsp; 85 | 80325 |
| Uruguay Government International Bond |  |  |
| 4.38%, 10/27/27 | &nbsp;&nbsp; 110 | 109622 |
| 4.38%, 01/23/31 | &nbsp;&nbsp; 100 | 98406 |
| 4.98%, 04/20/55 | &nbsp;&nbsp; 110 | 101365 |
| 5.10%, 06/18/50 | &nbsp;&nbsp; 200 | 189800 |
|  |  | 579518 |
| **Total Foreign Government Obligations — 51.3%** <br>**(Cost: $23,260,978)** | **Total Foreign Government Obligations — 51.3%** <br>**(Cost: $23,260,978)** | 24310484 |
| **Total Long-Term Investments — 97.7%** <br>**(Cost: $44,696,927)** | **Total Long-Term Investments — 97.7%** <br>**(Cost: $44,696,927)** | 46276204 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.7%** | **Money Market Funds — 2.7%** | **Money Market Funds — 2.7%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(l)(m)(n)</sup><br>| &nbsp;&nbsp; 1267302 | 1267302 |
| **Total Short-Term Securities — 2.7%** <br>**(Cost: $1,267,302)** | **Total Short-Term Securities — 2.7%** <br>**(Cost: $1,267,302)** | 1267302 |
| **Total Investments — 100.4%** <br>**(Cost: $45,964,229)** | **Total Investments — 100.4%** <br>**(Cost: $45,964,229)** | 47543506 |
| **Liabilities in Excess of Other Assets — (0.4)%** | **Liabilities in Excess of Other Assets — (0.4)%** | (177047)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $47366459 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(b)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(e)</sup> All or a portion of this security is on loan.

<sup>(f)</sup> Perpetual security with no stated maturity date.

<sup>(g)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(h)</sup> U.S. dollar denominated security issued by foreign domiciled entity.

<sup>(i)</sup> Zero-coupon bond.

<sup>(j)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(k)</sup> Non-income producing security.

<sup>(l)</sup> Affiliate of the Fund.

<sup>(m)</sup> Annualized 7-day yield as of period end.

<sup>(n)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan Broad USD Emerging Markets Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $590000<br> $677302 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $1267302 | 1267302<br> $22383 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $21965720 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $21965720 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 24310484 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24310484 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1267302 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1267302 |
|  | &nbsp;&nbsp; $1267302 | &nbsp;&nbsp; $46276204 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $47543506 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Azerbaijan — 0.3%** | **Azerbaijan — 0.3%** | **Azerbaijan — 0.3%** |
| Southern Gas Corridor CJSC, 6.88%, 03/24/26<sup>(a)</sup> | &nbsp;&nbsp; $43457 | $44312668 |
| **Bahrain — 0.1%** | **Bahrain — 0.1%** | **Bahrain — 0.1%** |
| Bapco Energies BSCC, 7.50%, 10/25/27<sup>(a)</sup> | &nbsp;&nbsp; 21521 | 22206982 |
| **Chile — 1.1%** | **Chile — 1.1%** | **Chile — 1.1%** |
| Corp. Nacional del Cobre de Chile |  |  |
| 3.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 14704 | 13196840 |
| 3.15%, 01/14/30<sup>(a)</sup> | &nbsp;&nbsp; 13300 | 11928438 |
| 3.63%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 17054 | 16430463 |
| 3.70%, 01/30/50<sup>(a)</sup> | &nbsp;&nbsp; 36300 | 25353281 |
| 4.38%, 02/05/49<sup>(a)</sup> | &nbsp;&nbsp; 17438 | 13710628 |
| 4.50%, 08/01/47<sup>(a)</sup> | &nbsp;&nbsp; 17050 | 13693281 |
| 5.95%, 01/08/34<sup>(a)</sup> | &nbsp;&nbsp; 17900 | 18118156 |
| 6.30%, 09/08/53<sup>(a)</sup> | &nbsp;&nbsp; 16545 | 16607209 |
| 6.44%, 01/26/36<sup>(a)</sup> | &nbsp;&nbsp; 20100 | 20904000 |
| Empresa de Transporte de Pasajeros Metro SA, <br> 4.70%, 05/07/50<sup>(a)</sup><br>| &nbsp;&nbsp; 13612 | 11413662 |
|  |  | 161355958 |
| **China — 1.8%** | **China — 1.8%** | **China — 1.8%** |
| CNAC HK Finbridge Co. Ltd. |  |  |
| 3.00%, 09/22/30<sup>(a)</sup> | &nbsp;&nbsp; 19343 | 17315853 |
| 4.13%, 07/19/27<sup>(a)</sup> | &nbsp;&nbsp; 19301 | 18890854 |
| 5.13%, 03/14/28<sup>(a)</sup> | &nbsp;&nbsp; 32295 | 32302105 |
| Sinopec Group Overseas Development 2012 Ltd., <br> 4.88%, 05/17/42<sup>(a)</sup><br>| &nbsp;&nbsp; 18313 | 18082073 |
| Sinopec Group Overseas Development 2017 Ltd., <br> 3.63%, 04/12/27<sup>(a)</sup><br>| &nbsp;&nbsp; 19872 | 19473964 |
| Sinopec Group Overseas Development 2018 Ltd. |  |  |
| 1.45%, 01/08/26<sup>(a)</sup> | &nbsp;&nbsp; 16745 | 16120579 |
| 2.30%, 01/08/31<sup>(a)</sup> | &nbsp;&nbsp; 22236 | 19601701 |
| 2.70%, 05/13/30<sup>(a)</sup> | &nbsp;&nbsp; 27678 | 25322325 |
| 2.95%, 11/12/29<sup>(a)</sup> | &nbsp;&nbsp; 20053 | 18716869 |
| State Grid Overseas Investment BVI Ltd. |  |  |
| 1.63%, 08/05/30<sup>(a)</sup> | &nbsp;&nbsp; 20956 | 17928277 |
| 3.50%, 05/04/27<sup>(a)</sup> | &nbsp;&nbsp; 42369 | 41416545 |
| Three Gorges Finance I Cayman Islands Ltd., <br> 3.15%, 06/02/26<sup>(a)</sup><br>| &nbsp;&nbsp; 17156 | 16793665 |
|  |  | 261964810 |
| **Hong Kong — 0.2%** | **Hong Kong — 0.2%** | **Hong Kong — 0.2%** |
| China Life Insurance Overseas Co. Ltd./Hong <br> Kong, 5.35%, 08/15/33, <br> (5-year CMT + 1.232%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 36200 | 36641278 |
| **Indonesia — 0.8%** | **Indonesia — 0.8%** | **Indonesia — 0.8%** |
| Indonesia Asahan Aluminium PT/Mineral Industri <br> Indonesia Persero PT, 5.45%, 05/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 9843 | 9835864 |
| Pertamina Persero PT |  |  |
| 1.40%, 02/09/26<sup>(a)</sup> | &nbsp;&nbsp; 9124 | 8702015 |
| 4.18%, 01/21/50<sup>(a)</sup> | &nbsp;&nbsp; 9863 | 7733480 |
| 5.63%, 05/20/43<sup>(a)</sup> | &nbsp;&nbsp; 13985 | 13648101 |
| 6.00%, 05/03/42<sup>(a)</sup> | &nbsp;&nbsp; 12065 | 12164416 |
| 6.45%, 05/30/44<sup>(a)</sup> | &nbsp;&nbsp; 14641 | 15550792 |
| Perusahaan Perseroan Persero PT Perusahaan <br> Listrik Negara<br>|  |  |
| 4.00%, 06/30/50<sup>(a)</sup> | &nbsp;&nbsp; 9561 | 6976566 |
| 4.13%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 14433 | 14198464 |
| 5.25%, 10/24/42<sup>(a)</sup> | &nbsp;&nbsp; 9825 | 8972583 |
| 5.45%, 05/21/28<sup>(a)</sup> | &nbsp;&nbsp; 10056 | 10191127 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Indonesia (continued)** | **Indonesia (continued)** | **Indonesia (continued)** |
| 6.15%, 05/21/48<sup>(a)</sup> | &nbsp;&nbsp; $9842 | $9878907 |
|  |  | 117852315 |
| **Malaysia — 1.3%** | **Malaysia — 1.3%** | **Malaysia — 1.3%** |
| Petronas Capital Ltd. |  |  |
| 2.48%, 01/28/32<sup>(a)</sup> | &nbsp;&nbsp; 27099 | 22952853 |
| 3.40%, 04/28/61<sup>(a)</sup> | &nbsp;&nbsp; 37737 | 26039662 |
| 3.50%, 04/21/30<sup>(a)</sup> | &nbsp;&nbsp; 48956 | 45694062 |
| 4.50%, 03/18/45<sup>(a)</sup> | &nbsp;&nbsp; 32536 | 28966801 |
| 4.55%, 04/21/50<sup>(a)</sup> | &nbsp;&nbsp; 60711 | 53740163 |
| 4.80%, 04/21/60<sup>(a)</sup> | &nbsp;&nbsp; 21789 | 19785937 |
|  |  | 197179478 |
| **Mexico — 2.5%** | **Mexico — 2.5%** | **Mexico — 2.5%** |
| Comision Federal de Electricidad |  |  |
| 4.69%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9268 | 8781430 |
| 6.45%, 01/24/35<sup>(c)</sup> | &nbsp;&nbsp; 6500 | 6272500 |
| Mexico City Airport Trust, 5.50%, 07/31/47<sup>(a)</sup> | &nbsp;&nbsp; 14082 | 11718900 |
| Petroleos Mexicanos |  |  |
| 4.50%, 01/23/26 | &nbsp;&nbsp; 8435 | 8199326 |
| 5.35%, 02/12/28 | &nbsp;&nbsp; 15673 | 14586704 |
| 5.95%, 01/28/31 | &nbsp;&nbsp; 28525 | 24531500 |
| 6.35%, 02/12/48 | &nbsp;&nbsp; 11469 | 7833327 |
| 6.38%, 01/23/45 | &nbsp;&nbsp; 8764 | 6123845 |
| 6.49%, 01/23/27 | &nbsp;&nbsp; 11618 | 11454070 |
| 6.50%, 03/13/27 | &nbsp;&nbsp; 29582 | 28957524 |
| 6.50%, 01/23/29 | &nbsp;&nbsp; 7726 | 7251546 |
| 6.50%, 06/02/41 | &nbsp;&nbsp; 11479 | 8498478 |
| 6.63%, 06/15/35 | &nbsp;&nbsp; 20935 | 17077726 |
| 6.70%, 02/16/32 | &nbsp;&nbsp; 50567 | 44862537 |
| 6.75%, 09/21/47 | &nbsp;&nbsp; 40996 | 29248596 |
| 6.84%, 01/23/30 | &nbsp;&nbsp; 17277 | 15899159 |
| 6.88%, 08/04/26 | &nbsp;&nbsp; 19362 | 19313595 |
| 6.95%, 01/28/60 | &nbsp;&nbsp; 28193 | 20087512 |
| 7.69%, 01/23/50 | &nbsp;&nbsp; 61074 | 47448391 |
| 8.75%, 06/02/29 | &nbsp;&nbsp; 15027 | 15182160 |
| 10.00%, 02/07/33 | &nbsp;&nbsp; 15020 | 15852108 |
|  |  | 369180934 |
| **Netherlands — 0.1%** | **Netherlands — 0.1%** | **Netherlands — 0.1%** |
| MDGH GMTN RSC Ltd., 3.70%, 11/07/49<sup>(a)</sup> | &nbsp;&nbsp; 14579 | 11011701 |
| **Oman — 0.1%** | **Oman — 0.1%** | **Oman — 0.1%** |
| EDO Sukuk Ltd., 5.88%, 09/21/33<sup>(a)</sup> | &nbsp;&nbsp; 21750 | 22551053 |
| **Panama — 0.2%** | **Panama — 0.2%** | **Panama — 0.2%** |
| Aeropuerto Internacional de Tocumen SA, 5.13%, <br> 08/11/61<sup>(a)</sup><br>| &nbsp;&nbsp; 22583 | 17050165 |
| Banco Nacional de Panama, 2.50%, 08/11/30<sup>(a)</sup> | &nbsp;&nbsp; 17500 | 14125825 |
|  |  | 31175990 |
| **Peru — 0.3%** | **Peru — 0.3%** | **Peru — 0.3%** |
| Petroleos del Peru SA |  |  |
| 4.75%, 06/19/32<sup>(a)</sup> | &nbsp;&nbsp; 19413 | 14802413 |
| 5.63%, 06/19/47<sup>(a)</sup> | &nbsp;&nbsp; 39846 | 25899900 |
|  |  | 40702313 |
| **Qatar — 0.8%** | **Qatar — 0.8%** | **Qatar — 0.8%** |
| Qatar Energy |  |  |
| 1.38%, 09/12/26<sup>(a)</sup> | &nbsp;&nbsp; 17818 | 16763709 |
| 2.25%, 07/12/31<sup>(a)</sup> | &nbsp;&nbsp; 42807 | 36760511 |
| 3.13%, 07/12/41<sup>(a)</sup> | &nbsp;&nbsp; 42231 | 31989983 |
| QatarEnergy, 3.30%, 07/12/51<sup>(a)</sup> | &nbsp;&nbsp; 48267 | 33907567 |
|  |  | 119421770 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Saudi Arabia — 1.0%** | **Saudi Arabia — 1.0%** | **Saudi Arabia — 1.0%** |
| Gaci First Investment Co. |  |  |
| 4.75%, 02/14/30<sup>(a)</sup> | &nbsp;&nbsp; $13609 | $13379348 |
| 4.88%, 02/14/35<sup>(a)</sup> | &nbsp;&nbsp; 15305 | 14716714 |
| 5.00%, 10/13/27<sup>(a)</sup> | &nbsp;&nbsp; 10504 | 10507283 |
| 5.00%, 01/29/29<sup>(a)</sup> | &nbsp;&nbsp; 14050 | 14006094 |
| 5.13%, 02/14/53<sup>(a)</sup> | &nbsp;&nbsp; 13712 | 11873736 |
| 5.25%, 10/13/32<sup>(a)</sup> | &nbsp;&nbsp; 12287 | 12310038 |
| 5.25%, 01/29/34<sup>(a)</sup> | &nbsp;&nbsp; 13850 | 13798062 |
| 5.38%, 01/29/54<sup>(a)</sup> | &nbsp;&nbsp; 11700 | 10456875 |
| Suci Second Investment Co. |  |  |
| 4.38%, 09/10/27<sup>(a)</sup> | &nbsp;&nbsp; 4800 | 4731408 |
| 5.17%, 03/05/31<sup>(a)</sup> | &nbsp;&nbsp; 15950 | 15990194 |
| 6.00%, 10/25/28<sup>(a)</sup> | &nbsp;&nbsp; 18100 | 18790062 |
| 6.25%, 10/25/33<sup>(a)</sup> | &nbsp;&nbsp; 9600 | 10347000 |
|  |  | 150906814 |
| **South Africa — 0.3%** | **South Africa — 0.3%** | **South Africa — 0.3%** |
| Eskom Holdings SOC Ltd., 6.35%, 08/10/28<sup>(a)</sup> | &nbsp;&nbsp; 21378 | 21351277 |
| Transnet SOC Ltd., 8.25%, 02/06/28<sup>(a)</sup> | &nbsp;&nbsp; 21650 | 22049172 |
|  |  | 43400449 |
| **United Arab Emirates — 1.6%** | **United Arab Emirates — 1.6%** | **United Arab Emirates — 1.6%** |
| Abu Dhabi Crude Oil Pipeline LLC, 4.60%, <br> 11/02/47<sup>(a)</sup><br>| &nbsp;&nbsp; 20353 | 18330421 |
| Abu Dhabi Developmental Holding Co. PJSC |  |  |
| 4.38%, 10/02/31<sup>(c)</sup> | &nbsp;&nbsp; 4800 | 4642512 |
| 5.25%, 10/02/54<sup>(c)</sup> | &nbsp;&nbsp; 5475 | 5153344 |
| 5.38%, 05/08/29<sup>(a)</sup> | &nbsp;&nbsp; 12050 | 12291000 |
| 5.50%, 05/08/34<sup>(a)</sup> | &nbsp;&nbsp; 12100 | 12438800 |
| Adnoc Murban Rsc Ltd. |  |  |
| 4.25%, 09/11/29<sup>(c)</sup> | &nbsp;&nbsp; 8000 | 7770000 |
| 4.25%, 09/11/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 194250 |
| 4.50%, 09/11/34<sup>(c)</sup> | &nbsp;&nbsp; 12150 | 11542500 |
| 4.50%, 09/11/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 190000 |
| 5.13%, 09/11/54<sup>(c)</sup> | &nbsp;&nbsp; 13250 | 12322500 |
| 5.13%, 09/11/54<sup>(a)</sup> | &nbsp;&nbsp; 200 | 186000 |
| DP World Crescent Ltd. |  |  |
| 3.88%, 07/18/29<sup>(a)</sup> | &nbsp;&nbsp; 9358 | 8933966 |
| 4.85%, 09/26/28<sup>(a)</sup> | &nbsp;&nbsp; 9008 | 8980976 |
| 5.50%, 09/13/33<sup>(a)</sup> | &nbsp;&nbsp; 13100 | 13325156 |
| DP World Ltd./United Arab Emirates |  |  |
| 5.63%, 09/25/48<sup>(a)</sup> | &nbsp;&nbsp; 12001 | 11486157 |
| 6.85%, 07/02/37<sup>(a)</sup> | &nbsp;&nbsp; 15750 | 17364375 |
| DP World Salaam, 6.00%, <br> (5-year CMT + 5.750%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 13123 | 13086092 |
| MDGH GMTN RSC Ltd. |  |  |
| 2.50%, 05/21/26<sup>(a)</sup> | &nbsp;&nbsp; 8519 | 8215085 |
| 2.88%, 11/07/29<sup>(a)</sup> | &nbsp;&nbsp; 9190 | 8393503 |
| 2.88%, 05/21/30<sup>(a)</sup> | &nbsp;&nbsp; 8997 | 8142285 |
| 3.38%, 03/28/32<sup>(a)</sup> | &nbsp;&nbsp; 9860 | 8938706 |
| 3.40%, 06/07/51<sup>(a)</sup> | &nbsp;&nbsp; 8959 | 6316095 |
| 3.95%, 05/21/50<sup>(a)</sup> | &nbsp;&nbsp; 17972 | 13928300 |
| 4.38%, 11/22/33<sup>(a)</sup> | &nbsp;&nbsp; 9384 | 8891340 |
| 5.50%, 04/28/33<sup>(a)</sup> | &nbsp;&nbsp; 8979 | 9225922 |
| MDGH Sukuk Ltd., 4.96%, 04/04/34<sup>(a)</sup> | &nbsp;&nbsp; 8150 | 8164099 |
|  |  | 238453384 |
| **Total Corporate Bonds & Notes — 12.5%** <br>**(Cost: $2,144,625,199)** | **Total Corporate Bonds & Notes — 12.5%** <br>**(Cost: $2,144,625,199)** | 1868317897 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Foreign Government Obligations**<sup>(e)</sup> | **Foreign Government Obligations**<sup>(e)</sup> | **Foreign Government Obligations**<sup>(e)</sup> |
| **Angola — 1.1%** | **Angola — 1.1%** | **Angola — 1.1%** |
| Angolan Government International Bond |  |  |
| 8.00%, 11/26/29<sup>(a)</sup> | &nbsp;&nbsp; $37811 | $34573433 |
| 8.25%, 05/09/28<sup>(a)</sup> | &nbsp;&nbsp; 38634 | 36785749 |
| 8.75%, 04/14/32<sup>(a)</sup> | &nbsp;&nbsp; 38199 | 34528458 |
| 9.13%, 11/26/49<sup>(a)</sup> | &nbsp;&nbsp; 27951 | 23327905 |
| 9.38%, 05/08/48<sup>(a)</sup> | &nbsp;&nbsp; 38100 | 32468439 |
|  |  | 161683984 |
| **Argentina — 2.7%** | **Argentina — 2.7%** | **Argentina — 2.7%** |
| Argentine Republic Government <br> International Bond<br>|  |  |
| 0.75%, 07/09/30<sup>(f)</sup> | &nbsp;&nbsp; 163663 | 109735811 |
| 1.00%, 07/09/29 | &nbsp;&nbsp; 28166 | 20138854 |
| 3.50%, 07/09/41<sup>(f)</sup> | &nbsp;&nbsp; 112210 | 57507767 |
| 4.13%, 07/09/46<sup>(f)</sup> | &nbsp;&nbsp; 22708 | 13000158 |
| 5.00%, 07/09/35<sup>(f)</sup> | &nbsp;&nbsp; 220346 | 121741430 |
| 5.00%, 01/09/38<sup>(f)</sup> | &nbsp;&nbsp; 122809 | 73255606 |
|  |  | 395379626 |
| **Azerbaijan — 0.1%** | **Azerbaijan — 0.1%** | **Azerbaijan — 0.1%** |
| Republic of Azerbaijan International Bond, 3.50%, <br> 09/01/32<sup>(a)</sup><br>| &nbsp;&nbsp; 23734 | 20589245 |
| **Bahrain — 2.5%** | **Bahrain — 2.5%** | **Bahrain — 2.5%** |
| Bahrain Government International Bond |  |  |
| 5.25%, 01/25/33<sup>(a)</sup> | &nbsp;&nbsp; 21709 | 19863735 |
| 5.45%, 09/16/32<sup>(a)</sup> | &nbsp;&nbsp; 21892 | 20427863 |
| 5.63%, 09/30/31<sup>(a)</sup> | &nbsp;&nbsp; 22013 | 21077447 |
| 5.63%, 05/18/34<sup>(a)</sup> | &nbsp;&nbsp; 22845 | 21167263 |
| 6.00%, 09/19/44<sup>(a)</sup> | &nbsp;&nbsp; 27098 | 23033300 |
| 6.75%, 09/20/29<sup>(a)</sup> | &nbsp;&nbsp; 27568 | 28188280 |
| 7.00%, 01/26/26<sup>(a)</sup> | &nbsp;&nbsp; 23387 | 23620870 |
| 7.00%, 10/12/28<sup>(a)</sup> | &nbsp;&nbsp; 34785 | 36154659 |
| 7.38%, 05/14/30<sup>(a)</sup> | &nbsp;&nbsp; 22188 | 23384821 |
| 7.50%, 02/12/36<sup>(a)</sup> | &nbsp;&nbsp; 21725 | 22746075 |
| 7.75%, 04/18/35<sup>(a)</sup> | &nbsp;&nbsp; 21677 | 23045469 |
| CBB International Sukuk Programme Co. |  |  |
| 3.88%, 05/18/29<sup>(a)</sup> | &nbsp;&nbsp; 21448 | 20040475 |
| 3.95%, 09/16/27<sup>(a)</sup> | &nbsp;&nbsp; 22146 | 21211716 |
| 4.50%, 03/30/27<sup>(a)</sup> | &nbsp;&nbsp; 21771 | 21253939 |
| 6.25%, 10/18/30<sup>(a)</sup> | &nbsp;&nbsp; 21245 | 21975297 |
| CBB International Sukuk Programme Co. WLL, <br> 6.00%, 02/12/31<sup>(a)</sup><br>| &nbsp;&nbsp; 21250 | 21748047 |
|  |  | 368939256 |
| **Bolivia — 0.1%** | **Bolivia — 0.1%** | **Bolivia — 0.1%** |
| Bolivian Government International Bond, 4.50%, <br> 03/20/28<sup>(a)</sup><br>| &nbsp;&nbsp; 21848 | 13764240 |
| **Brazil — 3.5%** | **Brazil — 3.5%** | **Brazil — 3.5%** |
| Brazilian Government International Bond |  |  |
| 3.75%, 09/12/31 | &nbsp;&nbsp; 21962 | 19367849 |
| 3.88%, 06/12/30 | &nbsp;&nbsp; 51593 | 46910419 |
| 4.50%, 05/30/29 | &nbsp;&nbsp; 28970 | 27854655 |
| 4.63%, 01/13/28 | &nbsp;&nbsp; 43076 | 42662901 |
| 4.75%, 01/14/50 | &nbsp;&nbsp; 58361 | 42738927 |
| 5.00%, 01/27/45 | &nbsp;&nbsp; 48235 | 38238779 |
| 5.63%, 01/07/41 | &nbsp;&nbsp; 32580 | 29442546 |
| 5.63%, 02/21/47 | &nbsp;&nbsp; 40542 | 34577056 |
| 6.00%, 04/07/26 | &nbsp;&nbsp; 29789 | 30130084 |
| 6.00%, 10/20/33 | &nbsp;&nbsp; 32859 | 32563269 |
| 6.13%, 01/22/32 | &nbsp;&nbsp; 29000 | 29174000 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Brazil (continued)** | **Brazil (continued)** | **Brazil (continued)** |
| 6.13%, 03/15/34 | &nbsp;&nbsp; $33950 | $33627814 |
| 6.25%, 03/18/31 | &nbsp;&nbsp; 29000 | 29513590 |
| 7.13%, 01/20/37 | &nbsp;&nbsp; 24115 | 25883112 |
| 7.13%, 05/13/54 | &nbsp;&nbsp; 33400 | 33338210 |
| 8.25%, 01/20/34 | &nbsp;&nbsp; 19723 | 22740619 |
|  |  | 518763830 |
| **Bulgaria — 0.2%** | **Bulgaria — 0.2%** | **Bulgaria — 0.2%** |
| Bulgaria Government International Bond, 5.00%, <br> 03/05/37<sup>(a)</sup><br>| &nbsp;&nbsp; 27198 | 26118511 |
| **Chile — 2.2%** | **Chile — 2.2%** | **Chile — 2.2%** |
| Chile Government International Bond |  |  |
| 2.45%, 01/31/31 | &nbsp;&nbsp; 20109 | 17474721 |
| 2.55%, 01/27/32 | &nbsp;&nbsp; 20062 | 17153010 |
| 2.55%, 07/27/33 | &nbsp;&nbsp; 30972 | 25582872 |
| 2.75%, 01/31/27 | &nbsp;&nbsp; 20422 | 19482588 |
| 3.10%, 05/07/41 | &nbsp;&nbsp; 38165 | 28361556 |
| 3.10%, 01/22/61 | &nbsp;&nbsp; 27158 | 16892276 |
| 3.24%, 02/06/28 | &nbsp;&nbsp; 24555 | 23437748 |
| 3.25%, 09/21/71 | &nbsp;&nbsp; 14398 | 8991551 |
| 3.50%, 01/31/34 | &nbsp;&nbsp; 20628 | 18235152 |
| 3.50%, 01/25/50 | &nbsp;&nbsp; 31823 | 23121319 |
| 3.50%, 04/15/53 | &nbsp;&nbsp; 20700 | 14738400 |
| 3.86%, 06/21/47 | &nbsp;&nbsp; 14379 | 11251568 |
| 4.00%, 01/31/52 | &nbsp;&nbsp; 13738 | 10745726 |
| 4.34%, 03/07/42 | &nbsp;&nbsp; 27970 | 24305930 |
| 4.85%, 01/22/29 | &nbsp;&nbsp; 23300 | 23311650 |
| 4.95%, 01/05/36 | &nbsp;&nbsp; 23855 | 23355286 |
| 5.33%, 01/05/54 | &nbsp;&nbsp; 20420 | 19654241 |
|  |  | 326095594 |
| **China — 1.3%** | **China — 1.3%** | **China — 1.3%** |
| China Government International Bond |  |  |
| 1.20%, 10/21/30<sup>(a)</sup> | &nbsp;&nbsp; 35626 | 30402516 |
| 1.25%, 10/26/26<sup>(a)</sup> | &nbsp;&nbsp; 27214 | 25734919 |
| 1.75%, 10/26/31<sup>(a)</sup> | &nbsp;&nbsp; 17528 | 15070750 |
| 2.13%, 12/03/29<sup>(a)</sup> | &nbsp;&nbsp; 35908 | 32833916 |
| 2.63%, 11/02/27<sup>(a)</sup> | &nbsp;&nbsp; 17708 | 17100261 |
| 3.50%, 10/19/28<sup>(a)</sup> | &nbsp;&nbsp; 16850 | 16505249 |
| Export-Import Bank of China (The) |  |  |
| 1.00%, 11/05/27, <br> (1-day SOFR Index + 0.380%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10600 | 10600759 |
| 2.88%, 04/26/26<sup>(a)</sup> | &nbsp;&nbsp; 16208 | 15799883 |
| 3.88%, 05/16/26<sup>(a)</sup> | &nbsp;&nbsp; 26186 | 25942470 |
|  |  | 189990723 |
| **Colombia — 3.2%** | **Colombia — 3.2%** | **Colombia — 3.2%** |
| Colombia Government International Bond |  |  |
| 3.00%, 01/30/30 | &nbsp;&nbsp; 22938 | 19072947 |
| 3.13%, 04/15/31 | &nbsp;&nbsp; 37466 | 29822936 |
| 3.25%, 04/22/32 | &nbsp;&nbsp; 29486 | 22748449 |
| 3.88%, 04/25/27 | &nbsp;&nbsp; 28141 | 26916866 |
| 3.88%, 02/15/61 | &nbsp;&nbsp; 19000 | 10089000 |
| 4.13%, 02/22/42 | &nbsp;&nbsp; 14876 | 9461136 |
| 4.13%, 05/15/51 | &nbsp;&nbsp; 22374 | 13032855 |
| 4.50%, 01/28/26 | &nbsp;&nbsp; 21858 | 21606633 |
| 4.50%, 03/15/29 | &nbsp;&nbsp; 29700 | 27546750 |
| 5.00%, 06/15/45 | &nbsp;&nbsp; 66045 | 45240825 |
| 5.20%, 05/15/49 | &nbsp;&nbsp; 41728 | 28521088 |
| 5.63%, 02/26/44 | &nbsp;&nbsp; 37208 | 27961812 |
| 6.13%, 01/18/41 | &nbsp;&nbsp; 37220 | 30557620 |
| 7.38%, 09/18/37 | &nbsp;&nbsp; 27109 | 25929759 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Colombia (continued)** | **Colombia (continued)** | **Colombia (continued)** |
| 7.50%, 02/02/34 | &nbsp;&nbsp; $31783 | $31465170 |
| 7.75%, 11/07/36 | &nbsp;&nbsp; 12200 | 12059700 |
| 8.00%, 04/20/33 | &nbsp;&nbsp; 24302 | 24946003 |
| 8.00%, 11/14/35 | &nbsp;&nbsp; 28520 | 28862240 |
| 8.38%, 11/07/54 | &nbsp;&nbsp; 9300 | 9054713 |
| 8.75%, 11/14/53 | &nbsp;&nbsp; 28425 | 28894012 |
|  |  | 473790514 |
| **Costa Rica — 1.0%** | **Costa Rica — 1.0%** | **Costa Rica — 1.0%** |
| Costa Rica Government International Bond |  |  |
| 6.13%, 02/19/31<sup>(a)</sup> | &nbsp;&nbsp; 26130 | 26548080 |
| 6.55%, 04/03/34<sup>(a)</sup> | &nbsp;&nbsp; 32917 | 34161674 |
| 7.00%, 04/04/44<sup>(a)</sup> | &nbsp;&nbsp; 21442 | 22065105 |
| 7.16%, 03/12/45<sup>(a)</sup> | &nbsp;&nbsp; 28088 | 29334545 |
| 7.30%, 11/13/54<sup>(a)</sup> | &nbsp;&nbsp; 33305 | 35203385 |
|  |  | 147312789 |
| **Dominican Republic — 3.2%** | **Dominican Republic — 3.2%** | **Dominican Republic — 3.2%** |
| Dominican Republic International Bond |  |  |
| 4.50%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; 39665 | 36789287 |
| 4.88%, 09/23/32<sup>(a)</sup> | &nbsp;&nbsp; 61807 | 56306177 |
| 5.30%, 01/21/41<sup>(a)</sup> | &nbsp;&nbsp; 30171 | 26418633 |
| 5.50%, 02/22/29<sup>(a)</sup> | &nbsp;&nbsp; 35750 | 35035000 |
| 5.88%, 01/30/60<sup>(a)</sup> | &nbsp;&nbsp; 63778 | 56060862 |
| 5.95%, 01/25/27<sup>(a)</sup> | &nbsp;&nbsp; 33369 | 33385684 |
| 6.00%, 07/19/28<sup>(a)</sup> | &nbsp;&nbsp; 26346 | 26470880 |
| 6.00%, 02/22/33<sup>(a)</sup> | &nbsp;&nbsp; 35688 | 35045616 |
| 6.40%, 06/05/49<sup>(a)</sup> | &nbsp;&nbsp; 30567 | 29592830 |
| 6.50%, 02/15/48<sup>(a)</sup> | &nbsp;&nbsp; 19933 | 19490687 |
| 6.85%, 01/27/45<sup>(a)</sup> | &nbsp;&nbsp; 39548 | 40121446 |
| 6.88%, 01/29/26<sup>(a)</sup> | &nbsp;&nbsp; 29613 | 29938743 |
| 7.05%, 02/03/31<sup>(a)</sup> | &nbsp;&nbsp; 23755 | 24766963 |
| 7.45%, 04/30/44<sup>(a)</sup> | &nbsp;&nbsp; 30565 | 33086613 |
|  |  | 482509421 |
| **Ecuador — 1.3%** | **Ecuador — 1.3%** | **Ecuador — 1.3%** |
| Ecuador Government International Bond |  |  |
| 0.00%, 07/31/30<sup>(a)(g)</sup> | &nbsp;&nbsp; 21450 | 11690314 |
| 5.00%, 07/31/40<sup>(a)(f)</sup> | &nbsp;&nbsp; 65172 | 32871260 |
| 5.50%, 07/31/35<sup>(a)(f)</sup> | &nbsp;&nbsp; 164374 | 90734599 |
| 6.90%, 07/31/30<sup>(a)(f)</sup> | &nbsp;&nbsp; 77240 | 53102205 |
|  |  | 188398378 |
| **Egypt — 2.8%** | **Egypt — 2.8%** | **Egypt — 2.8%** |
| Egypt Government International Bond |  |  |
| 5.80%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 24482 | 22951875 |
| 5.88%, 02/16/31<sup>(a)</sup> | &nbsp;&nbsp; 32158 | 26631005 |
| 6.59%, 02/21/28<sup>(a)</sup> | &nbsp;&nbsp; 27119 | 25675727 |
| 7.05%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 21466 | 18420619 |
| 7.30%, 09/30/33<sup>(a)</sup> | &nbsp;&nbsp; 25138 | 21202395 |
| 7.50%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 43210 | 42913147 |
| 7.50%, 02/16/61<sup>(a)</sup> | &nbsp;&nbsp; 32709 | 22937186 |
| 7.60%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 39002 | 37266802 |
| 7.63%, 05/29/32<sup>(a)</sup> | &nbsp;&nbsp; 38061 | 33303375 |
| 7.90%, 02/21/48<sup>(a)</sup> | &nbsp;&nbsp; 33166 | 24833042 |
| 8.50%, 01/31/47<sup>(a)</sup> | &nbsp;&nbsp; 55302 | 43723420 |
| 8.70%, 03/01/49<sup>(a)</sup> | &nbsp;&nbsp; 32702 | 26161600 |
| 8.88%, 05/29/50<sup>(a)</sup> | &nbsp;&nbsp; 44442 | 36053572 |
| Egyptian Financial Co. for Sovereign Taskeek <br> (The), 10.88%, 02/28/26<sup>(a)</sup><br>| &nbsp;&nbsp; 32508 | 33838796 |
|  |  | 415912561 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **El Salvador — 0.2%** | **El Salvador — 0.2%** | **El Salvador — 0.2%** |
| El Salvador Government International Bond |  |  |
| 7.12%, 01/20/50<sup>(a)</sup> | &nbsp;&nbsp; $2046 | $1561098 |
| 9.25%, 04/17/30<sup>(a)</sup> | &nbsp;&nbsp; 22290 | 22094962 |
|  |  | 23656060 |
| **Ghana — 0.8%** | **Ghana — 0.8%** | **Ghana — 0.8%** |
| Ghana Government International Bond |  |  |
| 0.00%, 07/03/26<sup>(a)(g)</sup> | &nbsp;&nbsp; 4000 | 3716000 |
| 0.00%, 01/03/30<sup>(a)(g)</sup> | &nbsp;&nbsp; 7333 | 5555202 |
| 5.00%, 07/03/29<sup>(a)(f)</sup> | &nbsp;&nbsp; 57624 | 49484376 |
| 5.00%, 07/03/35<sup>(c)(f)</sup> | &nbsp;&nbsp; 2000 | 1380000 |
| 5.00%, 07/03/35<sup>(a)(f)</sup> | &nbsp;&nbsp; 82864 | 57486812 |
|  |  | 117622390 |
| **Guatemala — 0.3%** | **Guatemala — 0.3%** | **Guatemala — 0.3%** |
| Guatemala Government Bond |  |  |
| 6.13%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp; 30778 | 28152252 |
| 6.60%, 06/13/36<sup>(a)</sup> | &nbsp;&nbsp; 21539 | 21848623 |
|  |  | 50000875 |
| **Hungary — 2.7%** | **Hungary — 2.7%** | **Hungary — 2.7%** |
| Hungary Government International Bond |  |  |
| 2.13%, 09/22/31<sup>(a)</sup> | &nbsp;&nbsp; 49064 | 39312530 |
| 3.13%, 09/21/51<sup>(a)</sup> | &nbsp;&nbsp; 43379 | 26697606 |
| 5.25%, 06/16/29<sup>(a)</sup> | &nbsp;&nbsp; 38028 | 37671487 |
| 5.50%, 06/16/34<sup>(a)</sup> | &nbsp;&nbsp; 27221 | 26634047 |
| 5.50%, 03/26/36<sup>(a)</sup> | &nbsp;&nbsp; 55200 | 53181750 |
| 6.13%, 05/22/28<sup>(a)</sup> | &nbsp;&nbsp; 47461 | 48647525 |
| 6.25%, 09/22/32<sup>(a)</sup> | &nbsp;&nbsp; 39083 | 40621893 |
| 6.75%, 09/25/52<sup>(a)</sup> | &nbsp;&nbsp; 27231 | 28983996 |
| 7.63%, 03/29/41 | &nbsp;&nbsp; 36964 | 42231370 |
| Magyar Export-Import Bank Zrt, 6.13%, <br> 12/04/27<sup>(a)</sup><br>| &nbsp;&nbsp; 27198 | 27690964 |
| MFB Magyar Fejlesztesi Bank Zrt, 6.50%, <br> 06/29/28<sup>(a)</sup><br>| &nbsp;&nbsp; 24259 | 24926122 |
|  |  | 396599290 |
| **India — 0.7%** | **India — 0.7%** | **India — 0.7%** |
| Export-Import Bank of India |  |  |
| 2.25%, 01/13/31<sup>(a)</sup> | &nbsp;&nbsp; 21452 | 18274423 |
| 3.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 22052 | 20249911 |
| 3.38%, 08/05/26<sup>(a)</sup> | &nbsp;&nbsp; 21536 | 20989416 |
| 3.88%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 22068 | 21416332 |
| 5.50%, 01/18/33<sup>(a)</sup> | &nbsp;&nbsp; 21985 | 22472792 |
|  |  | 103402874 |
| **Indonesia — 3.9%** | **Indonesia — 3.9%** | **Indonesia — 3.9%** |
| Indonesia Government International Bond |  |  |
| 1.85%, 03/12/31 | &nbsp;&nbsp; 12252 | 10253392 |
| 2.15%, 07/28/31 | &nbsp;&nbsp; 11854 | 9979586 |
| 2.85%, 02/14/30 | &nbsp;&nbsp; 12054 | 10965373 |
| 3.05%, 03/12/51 | &nbsp;&nbsp; 19805 | 13584992 |
| 3.50%, 01/11/28 | &nbsp;&nbsp; 12155 | 11740970 |
| 3.55%, 03/31/32 | &nbsp;&nbsp; 10106 | 9246990 |
| 3.70%, 10/30/49 | &nbsp;&nbsp; 10087 | 7877317 |
| 3.85%, 07/18/27<sup>(a)</sup> | &nbsp;&nbsp; 10025 | 9862094 |
| 3.85%, 10/15/30 | &nbsp;&nbsp; 16210 | 15394434 |
| 4.10%, 04/24/28 | &nbsp;&nbsp; 10125 | 9957305 |
| 4.20%, 10/15/50 | &nbsp;&nbsp; 16921 | 14329972 |
| 4.35%, 01/08/27<sup>(a)</sup> | &nbsp;&nbsp; 12845 | 12796831 |
| 4.35%, 01/11/48 | &nbsp;&nbsp; 18034 | 15819199 |
| 4.45%, 04/15/70 | &nbsp;&nbsp; 9578 | 8063479 |
| 4.55%, 01/11/28 | &nbsp;&nbsp; 9838 | 9810331 |
| 4.63%, 04/15/43<sup>(a)</sup> | &nbsp;&nbsp; 15183 | 14158147 |
| 4.65%, 09/20/32 | &nbsp;&nbsp; 13720 | 13390994 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Indonesia (continued)** | **Indonesia (continued)** | **Indonesia (continued)** |
| 4.75%, 01/08/26<sup>(a)</sup> | &nbsp;&nbsp; $18520 | $18568615 |
| 4.75%, 02/11/29 | &nbsp;&nbsp; 12188 | 12185197 |
| 4.75%, 09/10/34 | &nbsp;&nbsp; 10950 | 10720707 |
| 4.75%, 07/18/47<sup>(a)</sup> | &nbsp;&nbsp; 9630 | 9049191 |
| 4.85%, 01/11/33 | &nbsp;&nbsp; 11927 | 11763004 |
| 5.13%, 01/15/45<sup>(a)</sup> | &nbsp;&nbsp; 19895 | 19432640 |
| 5.25%, 01/17/42<sup>(a)</sup> | &nbsp;&nbsp; 22340 | 22256225 |
| 5.25%, 01/08/47<sup>(a)</sup> | &nbsp;&nbsp; 14664 | 14517360 |
| 5.35%, 02/11/49 | &nbsp;&nbsp; 9343 | 9442316 |
| 5.95%, 01/08/46<sup>(a)</sup> | &nbsp;&nbsp; 12348 | 13196925 |
| 6.63%, 02/17/37<sup>(a)</sup> | &nbsp;&nbsp; 13903 | 15714735 |
| 6.75%, 01/15/44<sup>(a)</sup> | &nbsp;&nbsp; 20189 | 23658984 |
| 7.75%, 01/17/38<sup>(a)</sup> | &nbsp;&nbsp; 19417 | 24131690 |
| 8.50%, 10/12/35<sup>(a)</sup> | &nbsp;&nbsp; 15485 | 19724019 |
| Perusahaan Penerbit SBSN Indonesia III |  |  |
| 1.50%, 06/09/26<sup>(a)</sup> | &nbsp;&nbsp; 12855 | 12240017 |
| 2.55%, 06/09/31<sup>(a)</sup> | &nbsp;&nbsp; 9598 | 8331544 |
| 2.80%, 06/23/30<sup>(a)</sup> | &nbsp;&nbsp; 9629 | 8641835 |
| 4.15%, 03/29/27<sup>(a)</sup> | &nbsp;&nbsp; 19842 | 19623738 |
| 4.40%, 06/06/27<sup>(a)</sup> | &nbsp;&nbsp; 17192 | 17149020 |
| 4.40%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 18093 | 17944276 |
| 4.45%, 02/20/29<sup>(a)</sup> | &nbsp;&nbsp; 12454 | 12314640 |
| 4.55%, 03/29/26<sup>(a)</sup> | &nbsp;&nbsp; 15691 | 15710614 |
| 4.70%, 06/06/32<sup>(a)</sup> | &nbsp;&nbsp; 14683 | 14458056 |
| 5.20%, 07/02/34<sup>(a)</sup> | &nbsp;&nbsp; 9850 | 9968200 |
| 5.40%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10250 | 10492925 |
| 5.60%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp; 9800 | 10240314 |
|  |  | 578708193 |
| **Iraq — 0.2%** | **Iraq — 0.2%** | **Iraq — 0.2%** |
| Iraq International Bond, 5.80%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 25869 | 24874600 |
| **Ivory Coast — 0.5%** | **Ivory Coast — 0.5%** | **Ivory Coast — 0.5%** |
| Ivory Coast Government International Bond |  |  |
| 6.13%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp; 27473 | 24857021 |
| 7.63%, 01/30/33<sup>(a)</sup> | &nbsp;&nbsp; 23900 | 23697089 |
| 8.25%, 01/30/37<sup>(a)</sup> | &nbsp;&nbsp; 32975 | 32820347 |
|  |  | 81374457 |
| **Jamaica — 0.7%** | **Jamaica — 0.7%** | **Jamaica — 0.7%** |
| Jamaica Government International Bond |  |  |
| 6.75%, 04/28/28 | &nbsp;&nbsp; 27267 | 28234979 |
| 7.88%, 07/28/45 | &nbsp;&nbsp; 39897 | 47377687 |
| 8.00%, 03/15/39 | &nbsp;&nbsp; 27397 | 32561334 |
|  |  | 108174000 |
| **Jordan — 0.8%** | **Jordan — 0.8%** | **Jordan — 0.8%** |
| Jordan Government International Bond |  |  |
| 5.75%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 21578 | 21146440 |
| 5.85%, 07/07/30<sup>(a)</sup> | &nbsp;&nbsp; 27659 | 26129181 |
| 6.13%, 01/29/26<sup>(a)</sup> | &nbsp;&nbsp; 21487 | 21359421 |
| 7.38%, 10/10/47<sup>(a)</sup> | &nbsp;&nbsp; 21814 | 19796205 |
| 7.50%, 01/13/29<sup>(a)</sup> | &nbsp;&nbsp; 28086 | 28437075 |
|  |  | 116868322 |
| **Kazakhstan — 0.6%** | **Kazakhstan — 0.6%** | **Kazakhstan — 0.6%** |
| Kazakhstan Government International Bond |  |  |
| 4.71%, 04/09/35<sup>(c)</sup> | &nbsp;&nbsp; 25400 | 24599900 |
| 4.88%, 10/14/44<sup>(a)</sup> | &nbsp;&nbsp; 22684 | 21301694 |
| 6.50%, 07/21/45<sup>(a)</sup> | &nbsp;&nbsp; 33550 | 37544547 |
|  |  | 83446141 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Kenya — 0.8%** | **Kenya — 0.8%** | **Kenya — 0.8%** |
| Republic of Kenya Government <br> International Bond<br>|  |  |
| 6.30%, 01/23/34<sup>(a)</sup> | &nbsp;&nbsp; $22170 | $17902275 |
| 7.25%, 02/28/28<sup>(a)</sup> | &nbsp;&nbsp; 21612 | 20652211 |
| 8.00%, 05/22/32<sup>(a)</sup> | &nbsp;&nbsp; 26214 | 24051345 |
| 8.25%, 02/28/48<sup>(a)</sup> | &nbsp;&nbsp; 22040 | 18424117 |
| 9.75%, 02/16/31<sup>(a)</sup> | &nbsp;&nbsp; 33175 | 33330591 |
|  |  | 114360539 |
| **Kuwait — 0.6%** | **Kuwait — 0.6%** | **Kuwait — 0.6%** |
| Kuwait International Government Bond, 3.50%, <br> 03/20/27<sup>(a)</sup><br>| &nbsp;&nbsp; 98514 | 96691491 |
| **Latvia — 0.2%** | **Latvia — 0.2%** | **Latvia — 0.2%** |
| Latvia Government International Bond, 5.13%, <br> 07/30/34<sup>(a)</sup><br>| &nbsp;&nbsp; 27400 | 27233956 |
| **Lebanon — 0.1%** | **Lebanon — 0.1%** | **Lebanon — 0.1%** |
| Lebanon Government International Bond |  |  |
| 6.00%, 01/27/23<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 23432 | 1933140 |
| 6.10%, 10/04/22<sup>(a)(i)</sup> | &nbsp;&nbsp; 8700 | 717750 |
| 6.10%, 10/04/24<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 21875 | 1804688 |
| 6.60%, 11/27/26<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 34859 | 2875867 |
| 6.65%, 02/26/30<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 29512 | 2434740 |
| 6.75%, 11/29/27<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 20978 | 1730685 |
| 6.85%, 03/23/27<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 27659 | 2281868 |
| 7.00%, 03/23/32<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 22286 | 1838595 |
|  |  | 15617333 |
| **Malaysia — 0.1%** | **Malaysia — 0.1%** | **Malaysia — 0.1%** |
| Malaysia Sukuk Global Bhd, 3.18%, 04/27/26<sup>(a)</sup> | &nbsp;&nbsp; 20107 | 19704860 |
| **Mexico — 3.2%** | **Mexico — 3.2%** | **Mexico — 3.2%** |
| Mexico Government International Bond |  |  |
| 2.66%, 05/24/31 | &nbsp;&nbsp; 26234 | 21798814 |
| 3.25%, 04/16/30 | &nbsp;&nbsp; 16770 | 14908530 |
| 3.50%, 02/12/34 | &nbsp;&nbsp; 21139 | 17208467 |
| 3.75%, 01/11/28 | &nbsp;&nbsp; 14415 | 13842905 |
| 3.75%, 04/19/71 | &nbsp;&nbsp; 22547 | 13088534 |
| 3.77%, 05/24/61 | &nbsp;&nbsp; 22852 | 13722626 |
| 4.13%, 01/21/26 | &nbsp;&nbsp; 14938 | 14830633 |
| 4.15%, 03/28/27 | &nbsp;&nbsp; 17890 | 17593697 |
| 4.28%, 08/14/41 | &nbsp;&nbsp; 18532 | 14287014 |
| 4.35%, 01/15/47 | &nbsp;&nbsp; 9295 | 6817302 |
| 4.40%, 02/12/52 | &nbsp;&nbsp; 16486 | 11746275 |
| 4.50%, 04/22/29 | &nbsp;&nbsp; 22569 | 21821402 |
| 4.50%, 01/31/50 | &nbsp;&nbsp; 14503 | 10746723 |
| 4.60%, 01/23/46 | &nbsp;&nbsp; 17406 | 13228560 |
| 4.60%, 02/10/48 | &nbsp;&nbsp; 13914 | 10478981 |
| 4.75%, 04/27/32 | &nbsp;&nbsp; 18286 | 17023123 |
| 4.75%, 03/08/44 | &nbsp;&nbsp; 28860 | 22914840 |
| 4.88%, 05/19/33 | &nbsp;&nbsp; 16155 | 14862600 |
| 5.00%, 05/07/29 | &nbsp;&nbsp; 7500 | 7359375 |
| 5.00%, 04/27/51 | &nbsp;&nbsp; 19582 | 15457541 |
| 5.40%, 02/09/28 | &nbsp;&nbsp; 9099 | 9135965 |
| 5.55%, 01/21/45 | &nbsp;&nbsp; 20718 | 18736841 |
| 5.75%, 10/12/2110 | &nbsp;&nbsp; 20312 | 16249600 |
| 6.00%, 05/07/36 | &nbsp;&nbsp; 29760 | 28913700 |
| 6.05%, 01/11/40 | &nbsp;&nbsp; 21148 | 20348341 |
| 6.34%, 05/04/53 | &nbsp;&nbsp; 21677 | 20159610 |
| 6.35%, 02/09/35 | &nbsp;&nbsp; 20939 | 21012287 |
| 6.40%, 05/07/54 | &nbsp;&nbsp; 19600 | 18365200 |
| 6.75%, 09/27/34 | &nbsp;&nbsp; 12808 | 13344335 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mexico (continued)** | **Mexico (continued)** | **Mexico (continued)** |
| 8.30%, 08/15/31 | &nbsp;&nbsp; $8076 | $9486776 |
|  |  | 469490597 |
| **Morocco — 0.6%** | **Morocco — 0.6%** | **Morocco — 0.6%** |
| Morocco Government International Bond |  |  |
| 3.00%, 12/15/32<sup>(a)</sup> | &nbsp;&nbsp; 22006 | 18148073 |
| 4.00%, 12/15/50<sup>(a)</sup> | &nbsp;&nbsp; 27447 | 18981316 |
| 5.95%, 03/08/28<sup>(a)</sup> | &nbsp;&nbsp; 27520 | 27891520 |
| 6.50%, 09/08/33<sup>(a)</sup> | &nbsp;&nbsp; 27227 | 28588350 |
|  |  | 93609259 |
| **Nigeria — 1.7%** | **Nigeria — 1.7%** | **Nigeria — 1.7%** |
| Nigeria Government International Bond |  |  |
| 6.13%, 09/28/28<sup>(a)</sup> | &nbsp;&nbsp; 26933 | 24290199 |
| 6.50%, 11/28/27<sup>(a)</sup> | &nbsp;&nbsp; 33684 | 31768223 |
| 7.14%, 02/23/30<sup>(a)</sup> | &nbsp;&nbsp; 27516 | 24815993 |
| 7.38%, 09/28/33<sup>(a)</sup> | &nbsp;&nbsp; 33754 | 28490401 |
| 7.63%, 11/28/47<sup>(a)</sup> | &nbsp;&nbsp; 32767 | 24923563 |
| 7.70%, 02/23/38<sup>(a)</sup> | &nbsp;&nbsp; 27138 | 22007222 |
| 7.88%, 02/16/32<sup>(a)</sup> | &nbsp;&nbsp; 32692 | 29351286 |
| 8.25%, 09/28/51<sup>(a)</sup> | &nbsp;&nbsp; 27501 | 21880621 |
| 8.38%, 03/24/29<sup>(a)</sup> | &nbsp;&nbsp; 27172 | 26165549 |
| 8.75%, 01/21/31<sup>(a)</sup> | &nbsp;&nbsp; 21532 | 20564352 |
|  |  | 254257409 |
| **Oman — 3.0%** | **Oman — 3.0%** | **Oman — 3.0%** |
| Oman Government International Bond |  |  |
| 4.75%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 51000 | 50410440 |
| 5.38%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 35200 | 35233000 |
| 5.63%, 01/17/28<sup>(a)</sup> | &nbsp;&nbsp; 52573 | 52770149 |
| 6.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 47134 | 48134655 |
| 6.25%, 01/25/31<sup>(a)</sup> | &nbsp;&nbsp; 35420 | 36892144 |
| 6.50%, 03/08/47<sup>(a)</sup> | &nbsp;&nbsp; 43430 | 43701437 |
| 6.75%, 10/28/27<sup>(a)</sup> | &nbsp;&nbsp; 29805 | 30978572 |
| 6.75%, 01/17/48<sup>(a)</sup> | &nbsp;&nbsp; 60581 | 62474156 |
| 7.00%, 01/25/51<sup>(a)</sup> | &nbsp;&nbsp; 21811 | 23242347 |
| 7.38%, 10/28/32<sup>(a)</sup> | &nbsp;&nbsp; 22560 | 25196700 |
| Oman Sovereign Sukuk Co., 4.88%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 38145 | 38323805 |
|  |  | 447357405 |
| **Pakistan — 0.7%** | **Pakistan — 0.7%** | **Pakistan — 0.7%** |
| Pakistan Global Sukuk Programme Co. Ltd. <br> (The), 7.95%, 01/31/29<sup>(a)</sup><br>| &nbsp;&nbsp; 22176 | 20602890 |
| Pakistan Government International Bond |  |  |
| 6.00%, 04/08/26<sup>(a)</sup> | &nbsp;&nbsp; 28181 | 26419687 |
| 6.88%, 12/05/27<sup>(a)</sup> | &nbsp;&nbsp; 33250 | 30070469 |
| 7.38%, 04/08/31<sup>(a)</sup> | &nbsp;&nbsp; 30680 | 25886250 |
|  |  | 102979296 |
| **Panama — 2.5%** | **Panama — 2.5%** | **Panama — 2.5%** |
| Panama Government International Bond |  |  |
| 2.25%, 09/29/32 | &nbsp;&nbsp; 45528 | 33303732 |
| 3.16%, 01/23/30 | &nbsp;&nbsp; 27172 | 23369550 |
| 3.30%, 01/19/33 | &nbsp;&nbsp; 17123 | 13467240 |
| 3.87%, 07/23/60 | &nbsp;&nbsp; 51092 | 28657503 |
| 3.88%, 03/17/28 | &nbsp;&nbsp; 21023 | 19730086 |
| 4.30%, 04/29/53 | &nbsp;&nbsp; 30930 | 19640550 |
| 4.50%, 05/15/47 | &nbsp;&nbsp; 20532 | 14126016 |
| 4.50%, 04/16/50 | &nbsp;&nbsp; 43244 | 28708827 |
| 4.50%, 04/01/56 | &nbsp;&nbsp; 43997 | 28257073 |
| 4.50%, 01/19/63 | &nbsp;&nbsp; 25951 | 16375081 |
| 6.40%, 02/14/35 | &nbsp;&nbsp; 40019 | 38238154 |
| 6.70%, 01/26/36 | &nbsp;&nbsp; 35038 | 34337240 |
| 6.85%, 03/28/54 | &nbsp;&nbsp; 24659 | 22612303 |
| 6.88%, 01/31/36 | &nbsp;&nbsp; 17200 | 16979625 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Panama (continued)** | **Panama (continued)** | **Panama (continued)** |
| 7.50%, 03/01/31 | &nbsp;&nbsp; $18780 | $19719000 |
| 8.00%, 03/01/38 | &nbsp;&nbsp; 21065 | 22170912 |
|  |  | 379692892 |
| **Paraguay — 0.4%** | **Paraguay — 0.4%** | **Paraguay — 0.4%** |
| Paraguay Government International Bond |  |  |
| 4.95%, 04/28/31<sup>(a)</sup> | &nbsp;&nbsp; 21414 | 20831807 |
| 5.40%, 03/30/50<sup>(a)</sup> | &nbsp;&nbsp; 26000 | 23018125 |
| 6.10%, 08/11/44<sup>(a)</sup> | &nbsp;&nbsp; 22208 | 21902640 |
|  |  | 65752572 |
| **Peru — 2.6%** | **Peru — 2.6%** | **Peru — 2.6%** |
| Peruvian Government International Bond |  |  |
| 1.86%, 12/01/32 | &nbsp;&nbsp; 19502 | 15132333 |
| 2.78%, 01/23/31 | &nbsp;&nbsp; 63240 | 54860700 |
| 2.78%, 12/01/60 | &nbsp;&nbsp; 39810 | 22243837 |
| 3.00%, 01/15/34 | &nbsp;&nbsp; 45261 | 37241317 |
| 3.23%, 07/28/2121 | &nbsp;&nbsp; 21034 | 11772467 |
| 3.30%, 03/11/41 | &nbsp;&nbsp; 24737 | 18521829 |
| 3.55%, 03/10/51 | &nbsp;&nbsp; 34228 | 24216310 |
| 3.60%, 01/15/72 | &nbsp;&nbsp; 19736 | 12649542 |
| 5.38%, 02/08/35 | &nbsp;&nbsp; 24695 | 24287532 |
| 5.63%, 11/18/50 | &nbsp;&nbsp; 52117 | 50911794 |
| 5.88%, 08/08/54 | &nbsp;&nbsp; 32665 | 32325611 |
| 6.55%, 03/14/37 | &nbsp;&nbsp; 22412 | 24092900 |
| 8.75%, 11/21/33 | &nbsp;&nbsp; 43426 | 53101856 |
|  |  | 381358028 |
| **Philippines — 3.4%** | **Philippines — 3.4%** | **Philippines — 3.4%** |
| Philippine Government International Bond |  |  |
| 1.65%, 06/10/31 | &nbsp;&nbsp; 19741 | 16187620 |
| 2.46%, 05/05/30 | &nbsp;&nbsp; 16340 | 14557919 |
| 2.65%, 12/10/45 | &nbsp;&nbsp; 24025 | 15818961 |
| 2.95%, 05/05/45 | &nbsp;&nbsp; 22579 | 15762964 |
| 3.00%, 02/01/28 | &nbsp;&nbsp; 32685 | 30999680 |
| 3.20%, 07/06/46 | &nbsp;&nbsp; 36071 | 25892215 |
| 3.70%, 03/01/41 | &nbsp;&nbsp; 32156 | 26578944 |
| 3.70%, 02/02/42 | &nbsp;&nbsp; 32522 | 26718856 |
| 3.75%, 01/14/29 | &nbsp;&nbsp; 25547 | 24668822 |
| 3.95%, 01/20/40 | &nbsp;&nbsp; 33526 | 29010467 |
| 4.20%, 03/29/47 | &nbsp;&nbsp; 15954 | 13456202 |
| 4.75%, 03/05/35 | &nbsp;&nbsp; 12150 | 11846250 |
| 5.00%, 07/17/33 | &nbsp;&nbsp; 19623 | 19653661 |
| 5.00%, 01/13/37 | &nbsp;&nbsp; 21481 | 21400446 |
| 5.25%, 05/14/34 | &nbsp;&nbsp; 16100 | 16371687 |
| 5.50%, 03/30/26 | &nbsp;&nbsp; 15459 | 15653783 |
| 5.50%, 01/17/48 | &nbsp;&nbsp; 20191 | 20411839 |
| 5.60%, 05/14/49 | &nbsp;&nbsp; 16050 | 16441219 |
| 6.38%, 01/15/32 | &nbsp;&nbsp; 16127 | 17568351 |
| 6.38%, 10/23/34 | &nbsp;&nbsp; 31210 | 34457790 |
| 7.75%, 01/14/31 | &nbsp;&nbsp; 27917 | 32313927 |
| 9.50%, 02/02/30 | &nbsp;&nbsp; 32423 | 39393945 |
| ROP Sukuk Trust, 5.05%, 06/06/29<sup>(a)</sup> | &nbsp;&nbsp; 16375 | 16589922 |
|  |  | 501755470 |
| **Poland — 3.3%** | **Poland — 3.3%** | **Poland — 3.3%** |
| Bank Gospodarstwa Krajowego |  |  |
| 5.38%, 05/22/33<sup>(a)</sup> | &nbsp;&nbsp; 35826 | 35591698 |
| 5.75%, 07/09/34<sup>(a)</sup> | &nbsp;&nbsp; 36450 | 36844753 |
| 6.25%, 10/31/28<sup>(a)</sup> | &nbsp;&nbsp; 20525 | 21498911 |
| 6.25%, 07/09/54<sup>(a)</sup> | &nbsp;&nbsp; 36250 | 36891625 |
| Republic of Poland Government <br> International Bond<br>|  |  |
| 3.25%, 04/06/26 | &nbsp;&nbsp; 35434 | 34784495 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Poland (continued)** | **Poland (continued)** | **Poland (continued)** |
| 4.63%, 03/18/29 | &nbsp;&nbsp; $31000 | $31037510 |
| 4.88%, 10/04/33 | &nbsp;&nbsp; 52951 | 52154087 |
| 5.13%, 09/18/34 | &nbsp;&nbsp; 61425 | 60705099 |
| 5.50%, 11/16/27 | &nbsp;&nbsp; 30145 | 31043020 |
| 5.50%, 04/04/53 | &nbsp;&nbsp; 50843 | 49203822 |
| 5.50%, 03/18/54 | &nbsp;&nbsp; 73725 | 71160107 |
| 5.75%, 11/16/32 | &nbsp;&nbsp; 30974 | 32303404 |
|  |  | 493218531 |
| **Qatar — 3.1%** | **Qatar — 3.1%** | **Qatar — 3.1%** |
| Qatar Government International Bond |  |  |
| 3.25%, 06/02/26<sup>(a)</sup> | &nbsp;&nbsp; 42150 | 41320172 |
| 3.75%, 04/16/30<sup>(a)</sup> | &nbsp;&nbsp; 36978 | 35695326 |
| 4.00%, 03/14/29<sup>(a)</sup> | &nbsp;&nbsp; 48185 | 47386936 |
| 4.40%, 04/16/50<sup>(a)</sup> | &nbsp;&nbsp; 60369 | 53426565 |
| 4.50%, 04/23/28<sup>(a)</sup> | &nbsp;&nbsp; 35701 | 35790252 |
| 4.63%, 05/29/29<sup>(a)</sup> | &nbsp;&nbsp; 11400 | 11517563 |
| 4.63%, 06/02/46<sup>(a)</sup> | &nbsp;&nbsp; 24376 | 22578270 |
| 4.75%, 05/29/34<sup>(a)</sup> | &nbsp;&nbsp; 17850 | 18084281 |
| 4.82%, 03/14/49<sup>(a)</sup> | &nbsp;&nbsp; 74560 | 70366000 |
| 5.10%, 04/23/48<sup>(a)</sup> | &nbsp;&nbsp; 73692 | 72770850 |
| 5.75%, 01/20/42<sup>(a)</sup> | &nbsp;&nbsp; 11551 | 12478690 |
| 6.40%, 01/20/40<sup>(a)</sup> | &nbsp;&nbsp; 11789 | 13638399 |
| 9.75%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 16729 | 21193552 |
|  |  | 456246856 |
| **Romania — 2.8%** | **Romania — 2.8%** | **Romania — 2.8%** |
| Romanian Government International Bond |  |  |
| 3.00%, 02/27/27<sup>(a)</sup> | &nbsp;&nbsp; 29664 | 28180800 |
| 3.00%, 02/14/31<sup>(a)</sup> | &nbsp;&nbsp; 27960 | 23643675 |
| 3.63%, 03/27/32<sup>(a)</sup> | &nbsp;&nbsp; 24120 | 20690438 |
| 4.00%, 02/14/51<sup>(a)</sup> | &nbsp;&nbsp; 43582 | 29336134 |
| 5.13%, 06/15/48<sup>(a)</sup> | &nbsp;&nbsp; 26878 | 22031561 |
| 5.25%, 11/25/27<sup>(a)</sup> | &nbsp;&nbsp; 22526 | 22385213 |
| 5.75%, 03/24/35<sup>(c)</sup> | &nbsp;&nbsp; 42974 | 40425642 |
| 5.88%, 01/30/29<sup>(a)</sup> | &nbsp;&nbsp; 43610 | 43841678 |
| 6.00%, 05/25/34<sup>(a)</sup> | &nbsp;&nbsp; 22302 | 21728281 |
| 6.13%, 01/22/44<sup>(a)</sup> | &nbsp;&nbsp; 22062 | 20752069 |
| 6.38%, 01/30/34<sup>(a)</sup> | &nbsp;&nbsp; 43660 | 43578137 |
| 6.63%, 02/17/28<sup>(a)</sup> | &nbsp;&nbsp; 32990 | 34020937 |
| 7.13%, 01/17/33<sup>(a)</sup> | &nbsp;&nbsp; 34766 | 36797638 |
| 7.63%, 01/17/53<sup>(a)</sup> | &nbsp;&nbsp; 27304 | 29402312 |
|  |  | 416814515 |
| **Saudi Arabia — 4.8%** | **Saudi Arabia — 4.8%** | **Saudi Arabia — 4.8%** |
| KSA Sukuk Ltd. |  |  |
| 2.25%, 05/17/31<sup>(a)</sup> | &nbsp;&nbsp; 15285 | 13011356 |
| 2.97%, 10/29/29<sup>(a)</sup> | &nbsp;&nbsp; 19369 | 17813427 |
| 3.63%, 04/20/27<sup>(a)</sup> | &nbsp;&nbsp; 34541 | 33774622 |
| 4.27%, 05/22/29<sup>(a)</sup> | &nbsp;&nbsp; 23371 | 22976614 |
| 4.30%, 01/19/29<sup>(a)</sup> | &nbsp;&nbsp; 15151 | 14923735 |
| 4.51%, 05/22/33<sup>(a)</sup> | &nbsp;&nbsp; 24671 | 23907741 |
| 5.25%, 06/04/27<sup>(a)</sup> | &nbsp;&nbsp; 9400 | 9523422 |
| 5.25%, 06/04/30<sup>(a)</sup> | &nbsp;&nbsp; 11500 | 11668906 |
| 5.25%, 06/04/34<sup>(a)</sup> | &nbsp;&nbsp; 16900 | 17105969 |
| 5.27%, 10/25/28<sup>(a)</sup> | &nbsp;&nbsp; 18862 | 19274606 |
| Saudi Government International Bond |  |  |
| 2.25%, 02/02/33<sup>(a)</sup> | &nbsp;&nbsp; 22083 | 17859626 |
| 2.50%, 02/03/27<sup>(a)</sup> | &nbsp;&nbsp; 9461 | 9029342 |
| 2.75%, 02/03/32<sup>(a)</sup> | &nbsp;&nbsp; 7636 | 6636161 |
| 3.25%, 10/26/26<sup>(a)</sup> | &nbsp;&nbsp; 39708 | 38665665 |
| 3.25%, 10/22/30<sup>(a)</sup> | &nbsp;&nbsp; 11409 | 10460627 |
| 3.25%, 11/17/51<sup>(a)</sup> | &nbsp;&nbsp; 9387 | 6157285 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** |
| 3.45%, 02/02/61<sup>(a)</sup> | &nbsp;&nbsp; $17174 | $11002094 |
| 3.63%, 03/04/28<sup>(a)</sup> | &nbsp;&nbsp; 39075 | 37805062 |
| 3.75%, 01/21/55<sup>(a)</sup> | &nbsp;&nbsp; 21404 | 15029621 |
| 4.38%, 04/16/29<sup>(a)</sup> | &nbsp;&nbsp; 30687 | 30284233 |
| 4.50%, 04/17/30<sup>(a)</sup> | &nbsp;&nbsp; 22882 | 22503017 |
| 4.50%, 10/26/46<sup>(a)</sup> | &nbsp;&nbsp; 50306 | 42382805 |
| 4.50%, 04/22/60<sup>(a)</sup> | &nbsp;&nbsp; 22731 | 18113766 |
| 4.63%, 10/04/47<sup>(a)</sup> | &nbsp;&nbsp; 36273 | 30888727 |
| 4.75%, 01/18/28<sup>(a)</sup> | &nbsp;&nbsp; 25032 | 25164983 |
| 4.75%, 01/16/30<sup>(a)</sup> | &nbsp;&nbsp; 25100 | 24950969 |
| 4.88%, 07/18/33<sup>(a)</sup> | &nbsp;&nbsp; 26506 | 26232657 |
| 5.00%, 01/16/34<sup>(a)</sup> | &nbsp;&nbsp; 30650 | 30458438 |
| 5.00%, 04/17/49<sup>(a)</sup> | &nbsp;&nbsp; 28180 | 25300356 |
| 5.00%, 01/18/53<sup>(a)</sup> | &nbsp;&nbsp; 24787 | 21758338 |
| 5.25%, 01/16/50<sup>(a)</sup> | &nbsp;&nbsp; 26891 | 24907789 |
| 5.50%, 10/25/32<sup>(a)</sup> | &nbsp;&nbsp; 19046 | 19659043 |
| 5.75%, 01/16/54<sup>(a)</sup> | &nbsp;&nbsp; 36800 | 35615500 |
|  |  | 714846502 |
| **Senegal — 0.2%** | **Senegal — 0.2%** | **Senegal — 0.2%** |
| Senegal Government International Bond |  |  |
| 6.25%, 05/23/33<sup>(a)</sup> | &nbsp;&nbsp; 24396 | 20113282 |
| 6.75%, 03/13/48<sup>(a)</sup> | &nbsp;&nbsp; 21674 | 15253078 |
|  |  | 35366360 |
| **Serbia — 0.5%** | **Serbia — 0.5%** | **Serbia — 0.5%** |
| Serbia International Bond |  |  |
| 2.13%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 26102 | 21566777 |
| 6.00%, 06/12/34<sup>(a)</sup> | &nbsp;&nbsp; 32700 | 32700000 |
| 6.50%, 09/26/33<sup>(a)</sup> | &nbsp;&nbsp; 22473 | 23456194 |
|  |  | 77722971 |
| **South Africa — 2.2%** | **South Africa — 2.2%** | **South Africa — 2.2%** |
| Republic of South Africa Government <br> International Bond<br>|  |  |
| 4.30%, 10/12/28 | &nbsp;&nbsp; 43717 | 41312565 |
| 4.85%, 09/27/27 | &nbsp;&nbsp; 22017 | 21549139 |
| 4.85%, 09/30/29 | &nbsp;&nbsp; 44879 | 42242359 |
| 4.88%, 04/14/26 | &nbsp;&nbsp; 26610 | 26277375 |
| 5.00%, 10/12/46 | &nbsp;&nbsp; 22551 | 16293097 |
| 5.38%, 07/24/44 | &nbsp;&nbsp; 21808 | 17092020 |
| 5.65%, 09/27/47 | &nbsp;&nbsp; 32691 | 25539844 |
| 5.75%, 09/30/49 | &nbsp;&nbsp; 65907 | 51325076 |
| 5.88%, 06/22/30 | &nbsp;&nbsp; 30676 | 29909100 |
| 5.88%, 04/20/32 | &nbsp;&nbsp; 29914 | 28567870 |
| 7.30%, 04/20/52 | &nbsp;&nbsp; 34831 | 32697601 |
|  |  | 332806046 |
| **Sri Lanka — 0.8%** | **Sri Lanka — 0.8%** | **Sri Lanka — 0.8%** |
| Sri Lanka Government International Bond |  |  |
| 6.20%, 05/11/27<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 32400 | 20128500 |
| 6.75%, 04/18/28<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 27325 | 17180594 |
| 6.83%, 03/14/24<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 22229 | 13851557 |
| 6.85%, 03/14/24<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 21998 | 13418780 |
| 6.85%, 11/03/25<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 32650 | 20569500 |
| 7.55%, 03/28/30<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 32882 | 20469045 |
| 7.85%, 03/14/29<sup>(a)(h)(i)</sup> | &nbsp;&nbsp; 30647 | 19183183 |
|  |  | 124801159 |
| **Trinidad And Tobago — 0.1%** | **Trinidad And Tobago — 0.1%** | **Trinidad And Tobago — 0.1%** |
| Trinidad & Tobago Government International <br> Bond, 4.50%, 08/04/26<sup>(a)</sup><br>| &nbsp;&nbsp; 21850 | 21325600 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Turkey — 4.8%** | **Turkey — 4.8%** | **Turkey — 4.8%** |
| Hazine Mustesarligi Varlik Kiralama AS |  |  |
| 5.13%, 06/22/26<sup>(a)</sup> | &nbsp;&nbsp; $24130 | $23888700 |
| 7.25%, 02/24/27<sup>(a)</sup> | &nbsp;&nbsp; 30315 | 31271817 |
| 8.51%, 01/14/29<sup>(a)</sup> | &nbsp;&nbsp; 25450 | 27509859 |
| Turkey Government International Bond |  |  |
| 4.25%, 04/14/26 | &nbsp;&nbsp; 14405 | 14206931 |
| 4.75%, 01/26/26 | &nbsp;&nbsp; 16554 | 16497096 |
| 4.88%, 10/09/26 | &nbsp;&nbsp; 28989 | 28717228 |
| 5.13%, 02/17/28 | &nbsp;&nbsp; 19635 | 19174805 |
| 5.25%, 03/13/30 | &nbsp;&nbsp; 20235 | 19025959 |
| 5.88%, 06/26/31 | &nbsp;&nbsp; 18105 | 17120541 |
| 5.95%, 01/15/31 | &nbsp;&nbsp; 21907 | 20866418 |
| 6.00%, 03/25/27 | &nbsp;&nbsp; 31504 | 31828885 |
| 6.13%, 10/24/28 | &nbsp;&nbsp; 27246 | 27339658 |
| 6.50%, 09/20/33 | &nbsp;&nbsp; 15403 | 14806134 |
| 7.63%, 04/26/29 | &nbsp;&nbsp; 29256 | 30572520 |
| 7.63%, 05/15/34 | &nbsp;&nbsp; 29975 | 30902352 |
| 8.00%, 02/14/34 | &nbsp;&nbsp; 15285 | 16421822 |
| 8.60%, 09/24/27 | &nbsp;&nbsp; 19866 | 21405615 |
| 9.13%, 07/13/30 | &nbsp;&nbsp; 24674 | 27526931 |
| 9.38%, 03/14/29 | &nbsp;&nbsp; 22852 | 25451415 |
| 9.88%, 01/15/28 | &nbsp;&nbsp; 33723 | 37632760 |
| Turkiye Government International Bond |  |  |
| 4.88%, 04/16/43 | &nbsp;&nbsp; 29796 | 21397253 |
| 5.75%, 05/11/47 | &nbsp;&nbsp; 34189 | 26411002 |
| 6.00%, 01/14/41 | &nbsp;&nbsp; 29903 | 25155899 |
| 6.50%, 01/03/35 | &nbsp;&nbsp; 19200 | 18192000 |
| 6.63%, 02/17/45 | &nbsp;&nbsp; 29043 | 25303714 |
| 6.75%, 05/30/40 | &nbsp;&nbsp; 19589 | 18089217 |
| 6.88%, 03/17/36 | &nbsp;&nbsp; 27097 | 26284090 |
| 7.13%, 07/17/32 | &nbsp;&nbsp; 16700 | 16726052 |
| 7.25%, 03/05/38 | &nbsp;&nbsp; 10130 | 10212306 |
| 9.38%, 01/19/33 | &nbsp;&nbsp; 27381 | 31248566 |
| 11.88%, 01/15/30 | &nbsp;&nbsp; 13829 | 17489363 |
|  |  | 718676908 |
| **Ukraine — 1.0%** | **Ukraine — 1.0%** | **Ukraine — 1.0%** |
| Ukraine Government International Bond |  |  |
| 0.00%, 02/01/34<sup>(a)(f)</sup> | &nbsp;&nbsp; 43386 | 15901070 |
| 0.00%, 02/01/35<sup>(a)(f)</sup> | &nbsp;&nbsp; 36743 | 17820515 |
| 0.00%, 02/01/36<sup>(a)(f)</sup> | &nbsp;&nbsp; 29686 | 14323547 |
| 1.75%, 02/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp; 25624 | 15335749 |
| 1.75%, 02/01/34<sup>(a)(f)</sup> | &nbsp;&nbsp; 68555 | 32117814 |
| 1.75%, 02/01/35<sup>(a)(f)</sup> | &nbsp;&nbsp; 64946 | 29712594 |
| 1.75%, 02/01/36<sup>(a)(f)</sup> | &nbsp;&nbsp; 54408 | 24483639 |
|  |  | 149694928 |
| **United Arab Emirates — 3.0%** | **United Arab Emirates — 3.0%** | **United Arab Emirates — 3.0%** |
| Abu Dhabi Government International Bond |  |  |
| 1.63%, 06/02/28<sup>(a)</sup> | &nbsp;&nbsp; 17987 | 16267083 |
| 1.70%, 03/02/31<sup>(a)</sup> | &nbsp;&nbsp; 14066 | 11822895 |
| 1.88%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 16345 | 13680275 |
| 2.50%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 26728 | 24381014 |
| 2.70%, 09/02/70<sup>(a)</sup> | &nbsp;&nbsp; 13722 | 7958760 |
| 3.00%, 09/15/51<sup>(a)</sup> | &nbsp;&nbsp; 11202 | 7540402 |
| 3.13%, 05/03/26<sup>(a)</sup> | &nbsp;&nbsp; 22306 | 21815491 |
| 3.13%, 10/11/27<sup>(a)</sup> | &nbsp;&nbsp; 37052 | 35681447 |
| 3.13%, 04/16/30<sup>(a)</sup> | &nbsp;&nbsp; 27127 | 25251846 |
| 3.13%, 09/30/49<sup>(a)</sup> | &nbsp;&nbsp; 35699 | 24855429 |
| 3.88%, 04/16/50<sup>(a)</sup> | &nbsp;&nbsp; 35702 | 28561600 |
| 4.13%, 10/11/47<sup>(a)</sup> | &nbsp;&nbsp; 27115 | 22819984 |
| 4.88%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; 15750 | 15986250 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Arab Emirates (continued)** | **United Arab Emirates (continued)** | **United Arab Emirates (continued)** |
| 5.00%, 04/30/34<sup>(a)</sup> | &nbsp;&nbsp; $13450 | $13702187 |
| 5.50%, 04/30/54<sup>(a)</sup> | &nbsp;&nbsp; 15650 | 15904312 |
| Emirate of Dubai Government International Bond |  |  |
| 3.90%, 09/09/50<sup>(a)</sup> | &nbsp;&nbsp; 11530 | 8416900 |
| 5.25%, 01/30/43<sup>(a)</sup> | &nbsp;&nbsp; 8779 | 8504656 |
| Finance Department Government of Sharjah |  |  |
| 4.00%, 07/28/50<sup>(a)</sup> | &nbsp;&nbsp; 9075 | 6142641 |
| 6.13%, 03/06/36<sup>(a)</sup> | &nbsp;&nbsp; 8800 | 8833000 |
| 6.50%, 11/23/32<sup>(a)</sup> | &nbsp;&nbsp; 9000 | 9480938 |
| Sharjah Sukuk Program Ltd. |  |  |
| 2.94%, 06/10/27<sup>(a)</sup> | &nbsp;&nbsp; 9292 | 8748046 |
| 3.23%, 10/23/29<sup>(a)</sup> | &nbsp;&nbsp; 8750 | 7958563 |
| 3.85%, 04/03/26<sup>(a)</sup> | &nbsp;&nbsp; 8949 | 8765635 |
| 4.23%, 03/14/28<sup>(a)</sup> | &nbsp;&nbsp; 10615 | 10286041 |
| UAE International Government Bond |  |  |
| 2.00%, 10/19/31<sup>(a)</sup> | &nbsp;&nbsp; 9150 | 7746047 |
| 2.88%, 10/19/41<sup>(a)</sup> | &nbsp;&nbsp; 9397 | 6915605 |
| 3.25%, 10/19/61<sup>(a)</sup> | &nbsp;&nbsp; 18388 | 12443895 |
| 4.05%, 07/07/32<sup>(a)</sup> | &nbsp;&nbsp; 16010 | 15399619 |
| 4.86%, 07/02/34<sup>(a)</sup> | &nbsp;&nbsp; 13150 | 13248625 |
| 4.92%, 09/25/33<sup>(a)</sup> | &nbsp;&nbsp; 13150 | 13302047 |
| 4.95%, 07/07/52<sup>(a)</sup> | &nbsp;&nbsp; 11477 | 10763245 |
|  |  | 443184478 |
| **Uruguay — 2.1%** | **Uruguay — 2.1%** | **Uruguay — 2.1%** |
| Oriental Republic of Uruguay, 5.25%, 09/10/60 | &nbsp;&nbsp; 28000 | 26460000 |
| Uruguay Government International Bond |  |  |
| 4.38%, 10/27/27 | &nbsp;&nbsp; 29603 | 29501184 |
| 4.38%, 01/23/31 | &nbsp;&nbsp; 45635 | 44907339 |
| 4.98%, 04/20/55 | &nbsp;&nbsp; 56250 | 51834348 |
| 5.10%, 06/18/50 | &nbsp;&nbsp; 87792 | 83315051 |
| 5.75%, 10/28/34 | &nbsp;&nbsp; 48222 | 50798538 |
| 7.63%, 03/21/36 | &nbsp;&nbsp; 22602 | 27186409 |
|  |  | 314002869 |
| **Zambia — 0.3%** | **Zambia — 0.3%** | **Zambia — 0.3%** |
| Zambia Government International Bond |  |  |
| 0.50%, 12/31/53<sup>(a)</sup> | &nbsp;&nbsp; 30196 | 16192549 |
| 7.50%, 06/30/33<sup>(a)(f)</sup> | &nbsp;&nbsp; 31744 | 27777872 |
|  |  | 43970421 |
| **Total Foreign Government Obligations — 85.5%** <br>**(Cost: $14,587,446,406)** | **Total Foreign Government Obligations — 85.5%** <br>**(Cost: $14,587,446,406)** | 12726515125 |
| **Total Long-Term Investments — 98.0%** <br>**(Cost: $16,732,071,605)** | **Total Long-Term Investments — 98.0%** <br>**(Cost: $16,732,071,605)** | 14594833022 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.8%** | **Money Market Funds — 0.8%** | **Money Market Funds — 0.8%** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(j)(k)</sup><br>| &nbsp;&nbsp; 114600000 | $114600000 |
| **Total Short-Term Securities — 0.8%** <br>**(Cost: $114,600,000)** | **Total Short-Term Securities — 0.8%** <br>**(Cost: $114,600,000)** | 114600000 |
| **Total Investments — 98.8%** <br>**(Cost: $16,846,671,605)** | **Total Investments — 98.8%** <br>**(Cost: $16,846,671,605)** | 14709433022 |
| **Other Assets Less Liabilities — 1.2%** | **Other Assets Less Liabilities — 1.2%** | 175145814 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $14884578836 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(d)</sup> Perpetual security with no stated maturity date.

<sup>(e)</sup> U.S. dollar denominated security issued by foreign domiciled entity.

<sup>(f)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(g)</sup> Zero-coupon bond.

<sup>(h)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(i)</sup> Non-income producing security.

<sup>(j)</sup> Affiliate of the Fund.

<sup>(k)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| $46700000<br> $67900000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $114600000 | 114600000 | $2689945 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® J.P. Morgan USD Emerging Markets Bond ETF** 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1868317897 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1868317897 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 12726515125 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12726515125 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 114600000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 114600000 |
|  | &nbsp;&nbsp; $114600000 | &nbsp;&nbsp; $14594833022 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14709433022 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>J.P. Morgan <br> Broad USD <br> Emerging <br> Markets <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>J.P. Morgan USD <br> Emerging Markets <br> Bond ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $46276204 | $14594833022 |
| Investments, at value—affiliated<sup>(c)</sup> | 1267302 | 114600000 |
| Cash | 2306 |  |
| Foreign currency, at value<sup>(d)</sup> | 502 | 125282 |
| Receivables: |  |  |
| Investments sold | 259818 | 26858650 |
| Securities lending income—affiliated | 969 |  |
| Capital shares sold |  | 3486310 |
| Dividends—affiliated | 1813 | 285624 |
| Interest—unaffiliated | 551563 | 192370209 |
| Total assets | 48360477 | 14932559097 |
| **LIABILITIES** |  |  |
| Bank overdraft |  | 214197 |
| Collateral on securities loaned, at value | 627302 |  |
| Payables: |  |  |
| Investments purchased | 359437 | 42389522 |
| Capital shares redeemed |  | 226226 |
| Investment advisory fees | 7279 | 5150316 |
| Total liabilities | 994018 | 47980261 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $47366459 | $14884578836 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $45510388 | $19099830149 |
| Accumulated earnings (loss) | 1856071 | (4215251313) |
| NET ASSETS | $47366459 | $14884578836 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 900000 | 163300000 |
| Net asset value | $52.63 | $91.15 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $44696927 | $16732071605 |
| <sup>(b)</sup> Securities loaned, at value | $593322 | $— |
| <sup>(c)</sup> Investments, at cost—affiliated | $1267302 | $114600000 |
| <sup>(d)</sup> Foreign currency, at cost | $500 | $122729 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
|  | iShares <br>J.P. Morgan <br> Broad USD <br> Emerging <br> Markets <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>J.P. Morgan USD <br> Emerging Markets <br> Bond ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $17274 | &nbsp;&nbsp;&nbsp; $2689945 |
| Interest—unaffiliated | &nbsp;&nbsp; 2730248 | &nbsp;&nbsp;&nbsp; 820213666 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 5109 | &nbsp;&nbsp;&nbsp; — |
| Other income—unaffiliated | &nbsp;&nbsp; 8125 | &nbsp;&nbsp;&nbsp; 4418200 |
| Total investment income | &nbsp;&nbsp; 2760756 | &nbsp;&nbsp;&nbsp; 827321811 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 81336 | &nbsp;&nbsp;&nbsp; 58337323 |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 18160 |
| Total expenses | &nbsp;&nbsp; 81336 | &nbsp;&nbsp;&nbsp; 58355483 |
| Less: |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; (5526)<br>| &nbsp;&nbsp;&nbsp; — |
| Total expenses after fees waived | &nbsp;&nbsp; 75810 | &nbsp;&nbsp;&nbsp; 58355483 |
| Net investment income | &nbsp;&nbsp; 2684946 | &nbsp;&nbsp;&nbsp; 768966328 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 211247 | &nbsp;&nbsp;&nbsp; (460919739)<br>|
| Foreign currency transactions | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 77588889 |
|  | &nbsp;&nbsp; 211247 | &nbsp;&nbsp;&nbsp; (383330841)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 3501500 | &nbsp;&nbsp;&nbsp; 2035205258 |
| Foreign currency translations | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp; 2542 |
|  | &nbsp;&nbsp; 3501511 | &nbsp;&nbsp;&nbsp; 2035207800 |
| Net realized and unrealized gain | &nbsp;&nbsp; 3712758 | &nbsp;&nbsp;&nbsp; 1651876959 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $6397704 | &nbsp;&nbsp;&nbsp; $2420843287 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

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Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>J.P. Morgan Broad USD Emerging Markets <br> Bond ETF  | iShares <br>J.P. Morgan Broad USD Emerging Markets <br> Bond ETF  | iShares <br>J.P. Morgan USD Emerging Markets Bond ETF  | iShares <br>J.P. Morgan USD Emerging Markets Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Period From <br>02/22/23<sup>(a)</sup> <br>to 10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $2684946 | &nbsp;&nbsp;&nbsp; $1779911 | &nbsp;&nbsp;&nbsp; $768966328 | &nbsp;&nbsp;&nbsp; $730623438 |
| Net realized gain (loss) | &nbsp;&nbsp; 211247 | &nbsp;&nbsp;&nbsp; (199071)<br>| &nbsp;&nbsp;&nbsp; (383330841)<br>| &nbsp;&nbsp;&nbsp; (728941743)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 3501511 | &nbsp;&nbsp;&nbsp; (1922232)<br>| &nbsp;&nbsp;&nbsp; 2035207800 | &nbsp;&nbsp;&nbsp; 919992215 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 6397704 | &nbsp;&nbsp;&nbsp; (341392)<br>| &nbsp;&nbsp;&nbsp; 2420843287 | &nbsp;&nbsp;&nbsp; 921673910 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (2613628)<br>| &nbsp;&nbsp;&nbsp; (1586613)<br>| &nbsp;&nbsp;&nbsp; (738785626)<br>| &nbsp;&nbsp;&nbsp; (741738699)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 5316441 | &nbsp;&nbsp;&nbsp; 40193947 | &nbsp;&nbsp;&nbsp; 1057163442 | &nbsp;&nbsp;&nbsp; (1703746600)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 9100517 | &nbsp;&nbsp;&nbsp; 38265942 | &nbsp;&nbsp;&nbsp; 2739221103 | &nbsp;&nbsp;&nbsp; (1523811389)<br>|
| Beginning of year | &nbsp;&nbsp; 38265942 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12145357733 | &nbsp;&nbsp;&nbsp; 13669169122 |
| End of year | &nbsp;&nbsp; $47366459 | &nbsp;&nbsp;&nbsp; $38265942 | &nbsp;&nbsp;&nbsp; $14884578836 | &nbsp;&nbsp;&nbsp; $12145357733 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares J.P. Morgan Broad USD Emerging Markets Bond ETF  | iShares J.P. Morgan Broad USD Emerging Markets Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Period From <br>02/22/23<sup>(a)</sup> <br>to 10/31/23<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $47.83 | &nbsp;&nbsp;&nbsp; $50.00 |
| Net investment income<sup>(b)</sup> | 3.29 | &nbsp;&nbsp;&nbsp;&nbsp;2.22 |
| Net realized and unrealized gain<sup>(c)</sup> | 4.71 | &nbsp;&nbsp;&nbsp; (2.41)<br>|
| Net increase from investment operations | 8.00 | &nbsp;&nbsp;&nbsp; (0.19)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (3.20)<br>| &nbsp;&nbsp;&nbsp; (1.98)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $52.63 | &nbsp;&nbsp;&nbsp; $47.83 |
| **Total Return**<sup>(e)</sup> <br>|  |  |
| Based on net asset value | 17.10<br> %<br>| &nbsp;&nbsp;&nbsp; (0.48 )%<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |
| Total expenses | 0.19<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.18 %<sup>(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.18 %<sup>(h)</sup><br>|
| Net investment income | 6.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.48 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $47366 | &nbsp;&nbsp;&nbsp; $38266 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares J.P. Morgan USD Emerging Markets Bond ETF  | iShares J.P. Morgan USD Emerging Markets Bond ETF  | iShares J.P. Morgan USD Emerging Markets Bond ETF  | iShares J.P. Morgan USD Emerging Markets Bond ETF  | iShares J.P. Morgan USD Emerging Markets Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $80.97 | &nbsp;&nbsp;&nbsp; $79.20 | &nbsp;&nbsp;&nbsp; $109.65 | &nbsp;&nbsp;&nbsp; $109.82 | &nbsp;&nbsp;&nbsp; $113.14 |
| Net investment income<sup>(a)</sup> | 4.59 | &nbsp;&nbsp;&nbsp;&nbsp;4.20 | &nbsp;&nbsp;&nbsp;&nbsp;4.17 | &nbsp;&nbsp;&nbsp;&nbsp;4.32 | &nbsp;&nbsp;&nbsp;&nbsp;4.63 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 10.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp; (30.34)<br>| &nbsp;&nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp;&nbsp; (3.39)<br>|
| Net increase (decrease) from investment operations | 14.61 | &nbsp;&nbsp;&nbsp;&nbsp;5.99 | &nbsp;&nbsp;&nbsp; (26.17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (4.43)<br>| &nbsp;&nbsp;&nbsp; (4.22)<br>| &nbsp;&nbsp;&nbsp; (4.28)<br>| &nbsp;&nbsp;&nbsp; (4.35)<br>| &nbsp;&nbsp;&nbsp; (4.56)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $91.15 | &nbsp;&nbsp;&nbsp; $80.97 | &nbsp;&nbsp;&nbsp; $79.20 | &nbsp;&nbsp;&nbsp; $109.65 | &nbsp;&nbsp;&nbsp; $109.82 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 18.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.46 %<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; (24.42)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.80<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.20<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>|
| Net investment income | 5.17<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.95<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.86<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.22<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $14884579 | &nbsp;&nbsp;&nbsp; $12145358 | &nbsp;&nbsp;&nbsp; $13669169 | &nbsp;&nbsp;&nbsp; $19637828 | &nbsp;&nbsp;&nbsp; $17208257 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 13<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> J.P. Morgan Broad USD Emerging Markets Bond Non-diversified <br> J.P. Morgan USD Emerging Markets Bond Diversified

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. SECURITIES AND OTHER INVESTMENTS***

**Zero-Coupon Bonds:** Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| J.P. Morgan Broad USD Emerging Markets Bond |  |  |  |  |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; $461697 | &nbsp;&nbsp;&nbsp; $(461697) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Jefferies LLC | &nbsp;&nbsp; 90928 | &nbsp;&nbsp;&nbsp; (90928) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 40697 | &nbsp;&nbsp;&nbsp; (40697) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $593322 | &nbsp;&nbsp;&nbsp; $(593322) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BlackRock Fund Advisors ("BFA") manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock, Inc. ("BlackRock"). Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

Effective June 28, 2024, for its investment advisory services to the iShares J.P. Morgan Broad USD Emerging Markets Bond ETF, BFA is entitled to an annual investment advisory fee of 0.18%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund. Prior to June 28, 2024, BFA was entitled to an annual investment advisory fee of 0.20%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

For its investment advisory services to the iShares J.P. Morgan USD Emerging Markets Bond ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund's allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

---

| | |
|:---|:---|
| *Aggregate Average Daily Net Assets* | *Investment Advisory Fees* |
| First $19 billion | 0.4000% |
| Over $19 billion, up to and including $33 billion | 0.3800 |
| Over $33 billion, up to and including $47 billion | 0.3610 |
| Over $47 billion | 0.3430 |

---

**Expense waivers:** The total of the investment advisory fee and any other fund expenses are a fund's total annual operating expenses. Prior to June 28, 2024, for the iShares J.P. Morgan Broad USD Emerging Markets Bond ETF, BFA had contractually agreed to waive a portion of its investment advisory fee for the Fund through February 28, 2029 in order to limit total annual operating expenses after fee waiver to 0.18% of average daily net assets. The contractual waiver was discontinued as of June 28, 2024.

This amount is included in investment advisory fees waived in the Statement of Operations. For the year ended ended October 31, 2024, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $5526 |

---

**Sub-Adviser:** BFA has entered into a sub-advisory agreement with BlackRock International Limited (the "Sub-Adviser"), an affiliate of BFA, under which BFA pays the Sub-Adviser for services it provides to Funds.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 26, 2024 (date of conversion for respective funds), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $1255 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $4632754 | &nbsp;&nbsp;&nbsp; $5196616 |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 2052274562 | &nbsp;&nbsp;&nbsp; 1717030399 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $5213119 | &nbsp;&nbsp;&nbsp; $— |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 6682617668 | &nbsp;&nbsp;&nbsp; 6012177495 |

---

***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; $70578224 | &nbsp;&nbsp;&nbsp; $(70578224) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| J.P. Morgan Broad USD Emerging Markets Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $2613628 | &nbsp;&nbsp;&nbsp; $1586613 |
| J.P. Morgan USD Emerging Markets Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $738785626 | &nbsp;&nbsp;&nbsp; $741738699 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Undistributed* <br>*Long-Term Capital Gains*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $241057 | &nbsp;&nbsp;&nbsp; $35873 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1579141 | &nbsp;&nbsp;&nbsp; $1856071 |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 90954353 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2151922408) | &nbsp;&nbsp;&nbsp; (2154283258) | &nbsp;&nbsp;&nbsp; (4215251313) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, amortization methods for premiums and discounts on fixed income securities, the classification of investments and the accrual of income on securities in default. 

For the year ended October 31, 2024, the iShares J.P. Morgan Broad USD Emerging Markets Bond ETF utilized $163,807 of its capital loss carryforwards.

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $45964367 | &nbsp;&nbsp;&nbsp; $1918432 | &nbsp;&nbsp;&nbsp; $(339293) | &nbsp;&nbsp;&nbsp; $1579139 |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 16863718833 | &nbsp;&nbsp;&nbsp; 68121998 | &nbsp;&nbsp;&nbsp; (2222407809) | &nbsp;&nbsp;&nbsp; (2154285811) |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

**Market Risk:** Investments in the securities of issuers domiciled in countries with emerging capital markets involve certain additional risks that do not generally apply to investments in securities of issuers in more developed capital markets, such as (i) low or nonexistent trading volume, resulting in a lack of liquidity and increased volatility in prices for such securities; (ii) lack of reliable settlement procedures and significant delays in registering the transfer of securities; (iii) uncertain national policies and social, political and economic instability, increasing the potential for expropriation of assets, confiscatory taxation, high rates of inflation or unfavorable diplomatic developments; (iv) lack of publicly available or reliable information about issuers as a result of not being subject to the same degree of regulatory requirements and accounting, auditing and financial reporting standards; and (v) possible fluctuations in exchange rates, differing legal systems and the existence or possible imposition of exchange controls, custodial restrictions or other foreign or U.S. governmental laws or restrictions applicable to such investments.

Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as "junk bonds") or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.

The Funds invest a significant portion of their assets in fixed-income securities and/or uses derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| J.P. Morgan Broad USD Emerging Markets Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; $5316441 | &nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; $40193947 |
| J.P. Morgan USD Emerging Markets Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 82900000 | &nbsp;&nbsp;&nbsp; $7239428637 | &nbsp;&nbsp;&nbsp; 110100000 | &nbsp;&nbsp;&nbsp; $9394461609 |
| Shares redeemed | &nbsp;&nbsp; (69600000)<br>| &nbsp;&nbsp;&nbsp; (6182265195)<br>| &nbsp;&nbsp;&nbsp; (132700000)<br>| &nbsp;&nbsp;&nbsp; (11098208209)<br>|
|  | &nbsp;&nbsp; 13300000 | &nbsp;&nbsp;&nbsp; $1057163442 | &nbsp;&nbsp;&nbsp; (22600000)<br>| &nbsp;&nbsp;&nbsp; $(1703746600)<br>|

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements and Additional Information

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the two funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (two of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

iShares J.P. Morgan Broad USD Emerging Markets Bond ETF<sup>(1)</sup> <br> iShares J.P. Morgan USD Emerging Markets Bond ETF <sup>(2)</sup>

<sup>(1)</sup> Statement of operations for the year ended October 31, 2024, and statement of changes in net assets for the year ended October 31, 2024 and the period February 22, 2023 (commencement of operations) through October 31, 2024

<sup>(2)</sup> Statement of operations for the year ended October 31, 2024 and statement of changes in net assets for the years ended October 31, 2024 and 2023

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>|
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $2656284 |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 816908196 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $2654 |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 389017 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

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| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $2603985 |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 761563113 |

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The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| J.P. Morgan Broad USD Emerging Markets Bond | &nbsp;&nbsp; $85173 |
| J.P. Morgan USD Emerging Markets Bond | &nbsp;&nbsp; 2437164 |

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2024 iShares Annual Financial Statements and Additional Information

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Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Regulation under the Alternative Investment Fund Managers Directive**

The Alternative Investment Fund Managers Directive, and its United Kingdom ("UK") equivalent, (the "AIFMD") impose detailed and prescriptive obligations on fund managers established in the European Union (the "EU") and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the "Company"). However, the Company is required to comply with certain disclosure, reporting and transparency obligations of the AIFMD because it has registered the iShares J.P. Morgan USD Emerging Markets Bond ETF (the "Fund") to be marketed to investors in the EU and/or UK.

**Report on Remuneration**

BlackRock has a clear and well-defined pay-for-performance philosophy, and compensation programs which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management and staff who have the ability to materially affect the risk profile of the Fund, a significant percentage of variable remuneration is deferred over time. All employees are subject to a clawback policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock's full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock's independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, Finance, Human Resources and Internal Audit) each have their own organizational structures which are independent of the business units and therefore staff members in control functions are remunerated independently of the businesses they oversee. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock's independent remuneration committee.

The Company is required under the AIFMD to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock's interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year. BlackRock bases its proportionality approach on a combination of factors that it is entitled to take into account based on relevant guidelines.

Remuneration information at an individual Fund level is not readily available. Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; (c) staff who have the ability to materially affect the risk profile of the Fund; and (d) staff of companies to which portfolio management and risk management has been formally delegated.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock's remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals' services attributable to the Fund is included in the aggregate figures disclosed.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Conversely, members of staff and senior management of the broader BlackRock group may provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the broader BlackRock group and of the Company. Therefore, the figures disclosed are a sum of individuals' portion of remuneration attributable to the Company according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company and the broader BlackRock group. Accordingly, the figures are not representative of any individual's actual remuneration or their remuneration structure.

The amount of the total remuneration awarded to the Company's staff in respect of the Company's financial year ending December 31, 2023 was USD 5.43m. This figure is comprised of fixed remuneration of USD 0.74m and variable remuneration of USD 4.68m. There was a total of 8 beneficiaries of the remuneration described above.

The amount of the aggregate remuneration awarded by the Company in respect of the Company's financial year ending December 31, 2023, to its senior management was USD 3.66m, and to other members of its staff whose actions potentially have a material impact on the risk profile of the Company or its funds was USD 1.77m.

Additional Information

------

Additional Information (continued)

**Disclosures Under the EU Sustainable Finance Disclosure Regulation** 

The iShares J.P. Morgan USD Emerging Markets Bond ETF (the "Fund") is registered under the Alternative Investment Fund Managers Directive to be marketed to European Union ("EU") investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation ("SFDR").

The Fund has not been categorized under the SFDR as an "Article 8" or "Article 9" product. In addition, the Fund's investment strategy does not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation or principal adverse impacts ("PAIs") on sustainability factors under the SFDR. PAIs are identified under the SFDR as the material impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, and anti-corruption and anti-bribery matters.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares J.P. Morgan Broad USD Emerging Markets Bond ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement"), and the Sub-Advisory Agreement between BFA and BlackRock International Limited, (together the "Advisory Agreements"), on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreements. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreements for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreements for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA and BlackRock International Limited; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreements are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds. The Board further noted that BFA pays BlackRock International Limited for sub-advisory services, and that there are no additional fees imposed on the Fund in respect of the services provided under the Sub-Advisory Agreement(s).

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA and BlackRock International Limited under the Advisory Agreements for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, including those of the Sub-Advisor(s), as well as the resources

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding investment performance, investment and risk management processes and strategies for BFA and BlackRock International Limited, which were provided at the May 6, 2024 meeting and throughout the year and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreements supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreements and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for any breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that during the June 4-5, 2024 meeting, the Board approved a permanent reduction to the advisory fee rate charged to the Fund. In addition, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including the actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreements for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreements for the coming year.

**iShares J.P. Morgan USD Emerging Markets Bond ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement"), and the Sub-Advisory Agreement between BFA and BlackRock International Limited, (together the "Advisory Agreements"), on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreements. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreements for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreements for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA and BlackRock International Limited; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreements are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds. The Board further noted that BFA pays BlackRock International Limited for sub-advisory services, and that are no additional fees imposed on the Fund in respect of the services provided under the Sub-Advisory Agreement(s).

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA and BlackRock International Limited under the Advisory Agreements for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, including those of the Sub-Advisor(s), as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding investment performance, investment and risk management processes and strategies for BFA and BlackRock International Limited, which were provided at the May 6, 2024 meeting and throughout the year and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreements supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreements and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including the actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreements for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreements for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| USD | United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CJSC | Closed Joint Stock Company |
| CMT | Constant Maturity Treasury |
| JSC | Joint Stock Company |
| PIK | Payment-in-kind |
| PJSC | Public Joint Stock Company |
| SOFR | Secured Overnight Financing Rate |

---

2024 iShares Annual Financial Statements and Additional Information

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by JPMorgan Chase & Co., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

![](g938995img2df6ef991.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares 0-5 Year High Yield Corporate Bond ETF \| SHYG \| NYSE Arca |
| • iShares Broad USD High Yield Corporate Bond ETF \| USHY \| Cboe BZX Exchange |
| • iShares ESG Advanced High Yield Corporate Bond ETF \| HYXF \| NASDAQ |
| • iShares Fallen Angels USD Bond ETF \| FALN \| NASDAQ |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 59 |
| [Statements of Operations](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 60 |
| [Statements of Changes in Net Assets](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 61 |
| [Financial Highlights](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 63 |
| [Notes to Financial Statements](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 67 |
| [Report of Independent Registered Public Accounting Firm](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 77 |
| [Important Tax Information](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 78 |
| [Additional Information](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 79 |
| [Board Review and Approval of Investment Advisory Contract](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_15Cheader-Footer-iSharesReport-290_1)  | &nbsp;&nbsp; 81 |
| [Glossary of Terms Used in this Report](#xx_62b497e6-d4e1-45c7-b0c9-12b25624d502_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 86 |

---

------

Schedule of Investments

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 1.3%** | **Advertising — 1.3%** | **Advertising — 1.3%** |
| Advantage Sales & Marketing Inc., 6.50%, <br> 11/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; $5300 | $4961966 |
| Clear Channel Outdoor Holdings Inc. |  |  |
| 5.13%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9728 | 9425167 |
| 7.50%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7960 | 6803810 |
| 7.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7595 | 6762082 |
| 9.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5990 | 6270781 |
| Lamar Media Corp. |  |  |
| 3.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 4510 | 4277848 |
| 4.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3010 | 2923312 |
| Neptune Bidco U.S. Inc., 9.29%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19991 | 18656001 |
| Outfront Media Capital LLC/Outfront Media <br> Capital Corp.<br>|  |  |
| 4.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3805 | 3564334 |
| 5.00%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4911 | 4827846 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8325 | 7919156 |
| Summer BC Bidco B LLC, 5.50%, 10/31/26<sup>(a)</sup> | &nbsp;&nbsp; 3221 | 3172685 |
|  |  | 79564988 |
| **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** |
| AAR Escrow Issuer LLC, 6.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4305 | 4401862 |
| Bombardier Inc. |  |  |
| 6.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6355 | 6349217 |
| 7.50%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5925 | 6175293 |
| 7.88%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7490 | 7503785 |
| F-Brasile SpA/F-Brasile U.S. LLC, Series XR, <br> 7.38%, 08/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3415 | 3422258 |
| Moog Inc., 4.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4090 | 3889672 |
| Spirit AeroSystems Inc., 4.60%, 06/15/28 | &nbsp;&nbsp; 5690 | 5426610 |
| TransDigm Inc. |  |  |
| 4.63%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 9525 | 9038630 |
| 4.88%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 5925 | 5654050 |
| 5.50%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 20975 | 20768082 |
| 6.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 19690 | 19995392 |
| 6.75%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 16325 | 16692312 |
| Triumph Group Inc., 9.00%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7665 | 7984273 |
|  |  | 117301436 |
| **Agriculture — 0.1%** | **Agriculture — 0.1%** | **Agriculture — 0.1%** |
| Darling Ingredients Inc., 5.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3615 | 3578850 |
| Vector Group Ltd., 10.50%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 4326 | 4323188 |
|  |  | 7902038 |
| **Airlines — 1.7%** | **Airlines — 1.7%** | **Airlines — 1.7%** |
| Air Canada, 3.88%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 9097 | 8808716 |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4442 | 4375370 |
| American Airlines Group Inc., 3.75%, 03/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 3963 | 3928479 |
| American Airlines Inc. |  |  |
| 7.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6215 | 6306412 |
| 8.50%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8050 | 8444506 |
| American Airlines Inc./AAdvantage Loyalty IP Ltd. |  |  |
| 5.50%, 04/20/26<sup>(a)</sup> | &nbsp;&nbsp; 9424 | 9404417 |
| 5.75%, 04/20/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 23055 | 22846484 |
| United Airlines Holdings Inc., 4.88%, 01/15/25 | &nbsp;&nbsp; 2959 | 2953610 |
| United Airlines Inc. |  |  |
| 4.38%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 15318 | 15055449 |
| 4.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 14040 | 13434970 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| VistaJet Malta Finance PLC/Vista Management <br> Holding Inc.<br>|  |  |
| 7.88%, 05/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; $3866 | $3748822 |
| 9.50%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3815 | 3744422 |
|  |  | 103051657 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| Crocs Inc., 4.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2640 | 2421646 |
| Hanesbrands Inc., 4.88%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6875 | 6793325 |
| Under Armour Inc., 3.25%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 4568 | 4398668 |
| VF Corp. |  |  |
| 2.40%, 04/23/25 | &nbsp;&nbsp; 5000 | 4929888 |
| 2.80%, 04/23/27<sup>(b)</sup> | &nbsp;&nbsp; 4100 | 3864127 |
| William Carter Co. (The), 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3806 | 3779929 |
| Wolverine World Wide Inc., 4.00%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4225 | 3612375 |
|  |  | 29799958 |
| **Auto Manufacturers — 0.7%** | **Auto Manufacturers — 0.7%** | **Auto Manufacturers — 0.7%** |
| Allison Transmission Inc. |  |  |
| 4.75%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3645 | 3556510 |
| 5.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 398812 |
| Aston Martin Capital Holdings Ltd., 10.00%, <br> 03/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8060 | 7823574 |
| Jaguar Land Rover Automotive PLC |  |  |
| 4.50%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4300 | 4148640 |
| 5.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2900 | 2817350 |
| 5.88%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4750 | 4695512 |
| 7.75%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5536 | 5531571 |
| Mclaren Finance PLC, 7.50%, 08/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4661 | 4551303 |
| PM General Purchaser LLC, 9.50%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4758 | 4825179 |
| Wabash National Corp., 4.50%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3155 | 2862392 |
|  |  | 41210843 |
| **Auto Parts & Equipment — 2.1%** | **Auto Parts & Equipment — 2.1%** | **Auto Parts & Equipment — 2.1%** |
| Adient Global Holdings Ltd. |  |  |
| 4.88%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 6487 | 6381684 |
| 7.00%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4125 | 4186875 |
| American Axle & Manufacturing Inc. |  |  |
| 5.00%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 4200 | 3801210 |
| 6.50%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 3874 | 3851027 |
| 6.88%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 3005 | 2971542 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |
| 6.25%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 6611 | 6624949 |
| 6.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6050 | 6191872 |
| 8.50%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 15249 | 15291308 |
| Cooper-Standard Automotive Inc. |  |  |
| 10.63%, 05/15/27, (10.63% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 2690 | 2215299 |
| 13.50%, 03/31/27, <br> (9% Cash and 4.5% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 3812 | 4068439 |
| Dana Inc. |  |  |
| 5.38%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3154 | 3082282 |
| 5.63%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 3155 | 3068238 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| 4.88%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5702 | 5502430 |
| 5.00%, 05/31/26<sup>(b)</sup> | &nbsp;&nbsp; 6900 | 6767602 |
| 5.00%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 6500 | 5881551 |
| 9.50%, 05/31/25 | &nbsp;&nbsp; 4097 | 4112487 |
| IHO Verwaltungs GmbH, 6.38%, 05/15/29, <br> (6.38% cash)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3025 | 2925871 |
| Phinia Inc., 6.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3950 | 4035834 |
| Real Hero Merger Sub 2 Inc., 6.25%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4714 | 4112258 |
| Tenneco Inc., 8.00%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp; 14715 | 13618070 |
| Titan International Inc., 7.00%, 04/30/28<sup>(b)</sup> | &nbsp;&nbsp; 3025 | 2930832 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| ZF North America Capital Inc. |  |  |
| 4.75%, 04/29/25<sup>(a)(b)</sup> | &nbsp;&nbsp; $8816 | $8742563 |
| 6.88%, 04/14/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4935 | 4976602 |
|  |  | 125340825 |
| **Banks — 0.5%** | **Banks — 0.5%** | **Banks — 0.5%** |
| Esc Gcb Finance Of, 7.88%, 11/15/25 | &nbsp;&nbsp; 2580 |  |
| Finance of America Funding LLC |  |  |
| 7.88%, 11/30/27<sup>(a)</sup> | &nbsp;&nbsp; 1474 | 1312114 |
| 10.00%, 11/30/29<sup>(a)</sup> | &nbsp;&nbsp; 1105 | 931943 |
| Freedom Mortgage Corp. |  |  |
| 6.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4181 | 4133964 |
| 7.63%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 4006 | 4023621 |
| 12.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6600 | 7128000 |
| Intesa Sanpaolo SpA, 5.71%, 01/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 11910 | 11934574 |
| Popular Inc., 7.25%, 03/13/28 | &nbsp;&nbsp; 3140 | 3232700 |
|  |  | 32696916 |
| **Beverages — 0.2%** | **Beverages — 0.2%** | **Beverages — 0.2%** |
| Primo Water Holdings Inc., 4.38%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; 5818 | 5487770 |
| Triton Water Holdings Inc., 6.25%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5850 | 5776875 |
|  |  | 11264645 |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |
| Emergent BioSolutions Inc., 3.88%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3475 | 2793205 |
| **Building Materials — 1.2%** | **Building Materials — 1.2%** | **Building Materials — 1.2%** |
| AmeriTex HoldCo Intermediate LLC, 10.25%, <br> 10/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4350 | 4576227 |
| Camelot Return Merger Sub Inc., 8.75%, <br> 08/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5430 | 5438634 |
| Cornerstone Building Brands Inc., 9.50%, <br> 08/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3335 | 3427963 |
| CP Atlas Buyer Inc., 7.00%, 12/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4060 | 3708526 |
| Eco Material Technologies Inc., 7.88%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 5529 | 5563556 |
| Griffon Corp., 5.75%, 03/01/28 | &nbsp;&nbsp; 7610 | 7476825 |
| James Hardie International Finance DAC, 5.00%, <br> 01/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1478 | 1427641 |
| Jeld-Wen Inc., 4.88%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3285 | 3176441 |
| Louisiana-Pacific Corp., 3.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2750 | 2571285 |
| New Enterprise Stone & Lime Co. Inc., 5.25%, <br> 07/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4790 | 4626571 |
| Smyrna Ready Mix Concrete LLC, 6.00%, <br> 11/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 8455 | 8373409 |
| Standard Industries Inc./New York |  |  |
| 4.75%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7820 | 7541152 |
| 5.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6767 | 6623201 |
| Summit Materials LLC/Summit Materials Finance <br> Corp., 5.25%, 01/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5580 | 5530055 |
|  |  | 70061486 |
| **Chemicals — 2.9%** | **Chemicals — 2.9%** | **Chemicals — 2.9%** |
| ASP Unifrax Holdings Inc. |  |  |
| 7.10%, 09/30/29, <br> (5.85% cash and 1.25% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 6032 | 3558675 |
| 11.18%, 09/30/29, <br> (10.43% cash and 11.18% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 7573 | 7500160 |
| Axalta Coating Systems LLC, 3.38%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5602 | 5158882 |
| Axalta Coating Systems LLC/Axalta Coating <br> Systems Dutch Holding B BV, 4.75%, <br> 06/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4116 | 4032945 |
| Chemours Co. (The) |  |  |
| 5.38%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3932 | 3771644 |
| 5.75%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6325 | 5814783 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| CVR Partners LP/CVR Nitrogen Finance Corp., <br> 6.13%, 06/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; $4431 | $4238621 |
| Element Solutions Inc., 3.88%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6300 | 6050587 |
| GPD Companies Inc., 10.13%, 04/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4057 | 3854150 |
| Herens Holdco SARL, 4.75%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 2745 | 2392592 |
| Illuminate Buyer LLC/Illuminate Holdings IV Inc., <br> 9.00%, 07/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4150 | 4203120 |
| INEOS Finance PLC |  |  |
| 6.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3355 | 3384205 |
| 7.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5625 | 5796113 |
| INEOS Quattro Finance 2 PLC, 9.63%, <br> 03/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1160 | 1229526 |
| Ingevity Corp., 3.88%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4505 | 4144600 |
| Mativ Holdings Inc., 8.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 940 | 955745 |
| Methanex Corp., 5.13%, 10/15/27 | &nbsp;&nbsp; 5511 | 5364573 |
| Minerals Technologies Inc., 5.00%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3075 | 2971946 |
| NOVA Chemicals Corp. |  |  |
| 4.25%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4310 | 3923910 |
| 5.00%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4232 | 4208537 |
| 5.25%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 8265 | 8114279 |
| 8.50%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3385 | 3589873 |
| Olin Corp. |  |  |
| 5.13%, 09/15/27 | &nbsp;&nbsp; 4245 | 4181750 |
| 5.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 3300 | 3254625 |
| Olympus Water U.S. Holding Corp. |  |  |
| 4.25%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6445 | 6042188 |
| 6.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2600 | 2476500 |
| 9.75%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12960 | 13734615 |
| Rain Carbon Inc., 12.25%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3450 | 3687760 |
| Rayonier AM Products Inc., 7.63%, 01/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4376 | 4384752 |
| SCIH Salt Holdings Inc. |  |  |
| 4.88%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8835 | 8459513 |
| 6.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5505 | 5331811 |
| SCIL IV LLC/SCIL USA Holdings LLC, Class-H, <br> 5.38%, 11/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5970 | 5883929 |
| SNF Group SACA, 3.13%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2975 | 2826616 |
| Tronox Inc., 4.63%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8700 | 7883244 |
| WR Grace Holdings LLC |  |  |
| 4.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5889 | 5772532 |
| 5.63%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9100 | 8417500 |
|  |  | 176596801 |
| **Coal — 0.1%** | **Coal — 0.1%** | **Coal — 0.1%** |
| Alliance Resource Operating Partners LP/Alliance <br> Resource Finance Corp., 8.63%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3025 | 3193455 |
| Coronado Finance Pty Ltd., 9.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2189 | 2239894 |
| SunCoke Energy Inc., 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 3900 | 3539737 |
|  |  | 8973086 |
| **Commercial Services — 4.9%** | **Commercial Services — 4.9%** | **Commercial Services — 4.9%** |
| ADT Security Corp. (The), 4.13%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7675 | 7172557 |
| Adtalem Global Education Inc., 5.50%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3250 | 3179786 |
| Albion Financing 1 SARL/Aggreko Holdings Inc., <br> 6.13%, 10/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4903 | 4901378 |
| Albion Financing 2 SARL, 8.75%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3728 | 3801846 |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp.<br>|  |  |
| 6.00%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6400 | 5864000 |
| 9.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8395 | 8409172 |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp./Atlas Luxco 4 SARL<br>|  |  |
| 4.63%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9658 | 9061715 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| 4.63%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; $5885 | $5511597 |
| Alta Equipment Group Inc., 9.00%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3855 | 3411675 |
| AMN Healthcare Inc. |  |  |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2600 | 2395250 |
| 4.63%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3800 | 3662250 |
| Avis Budget Car Rental LLC/Avis Budget <br> Finance Inc.<br>|  |  |
| 4.75%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3937 | 3696614 |
| 5.38%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4525 | 4211377 |
| 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3151 | 3093883 |
| 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 2841 | 2780462 |
| 8.25%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 1310 | 1337680 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3805 | 3812648 |
| Block Inc., 2.75%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 7395 | 7118303 |
| Brink's Co. (The) |  |  |
| 4.63%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4840 | 4709441 |
| 6.50%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2812 | 2859101 |
| Carriage Services Inc., 4.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3125 | 2854577 |
| Champions Financing Inc., 8.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4715 | 4752083 |
| CoreCivic Inc., 8.25%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3845 | 4031753 |
| Dcli Bidco LLC, 7.75%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2100 | 2135868 |
| Deluxe Corp., 8.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1375 | 1295236 |
| EquipmentShare.com Inc., 9.00%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8275 | 8565121 |
| Garda World Security Corp. |  |  |
| 4.63%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4588 | 4465600 |
| 6.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3850 | 3604563 |
| 7.75%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3260 | 3364982 |
| 9.50%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4969 | 4974019 |
| GEO Group Inc. (The), 8.63%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5120 | 5348813 |
| Graham Holdings Co., 5.75%, 06/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2815 | 2811682 |
| Grand Canyon University, 5.13%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 3125 | 2923531 |
| Herc Holdings Inc. |  |  |
| 5.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9405 | 9349691 |
| 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3855 | 3941738 |
| Hertz Corp. (The) |  |  |
| 4.63%, 12/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3781 | 2839833 |
| 12.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5700 | 6047814 |
| Korn Ferry, 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3275 | 3191008 |
| Mavis Tire Express Services Topco Corp., 6.50%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5650 | 5391866 |
| NESCO Holdings II Inc., 5.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7350 | 6844687 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc.<br>|  |  |
| 3.38%, 08/31/27<sup>(a)</sup> | &nbsp;&nbsp; 7976 | 7506214 |
| 5.75%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 10620 | 10624508 |
| 6.25%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10223 | 10212266 |
| RR Donnelley & Sons Co. |  |  |
| 9.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7950 | 8015587 |
| 10.88%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3625 | 3574477 |
| Service Corp. International/U.S. |  |  |
| 4.63%, 12/15/27 | &nbsp;&nbsp; 4660 | 4557051 |
| 5.13%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 5425 | 5327350 |
| Shift4 Payments LLC/Shift4 Payments Finance <br> Sub Inc., 4.63%, 11/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3356 | 3305601 |
| Sotheby's, 7.38%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6215 | 6080860 |
| StoneMor Inc., 8.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3025 | 2691748 |
| TriNet Group Inc., 3.50%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4025 | 3671723 |
| United Rentals North America Inc. |  |  |
| 3.88%, 11/15/27 | &nbsp;&nbsp; 5880 | 5657899 |
| 4.88%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 12984 | 12731461 |
| 5.50%, 05/15/27 | &nbsp;&nbsp; 3855 | 3847699 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Upbound Group Inc., 6.38%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $3525 | $3361132 |
| VM Consolidated Inc., 5.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2850 | 2756834 |
| WASH Multifamily Acquisition Inc., 5.75%, <br> 04/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6295 | 6288925 |
| Williams Scotsman Inc. |  |  |
| 4.63%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3955 | 3767632 |
| 6.13%, 06/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 4127 | 4120686 |
| 6.63%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3850 | 3902938 |
|  |  | 291727791 |
| **Computers — 1.2%** | **Computers — 1.2%** | **Computers — 1.2%** |
| Ahead DB Holdings LLC, 6.63%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3075 | 2986655 |
| ASGN Inc., 4.63%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4247 | 4055885 |
| Crowdstrike Holdings Inc., 3.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5880 | 5342803 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10450 | 11495000 |
| NCR Voyix Corp. |  |  |
| 5.00%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5080 | 4879023 |
| 5.13%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3061 | 2917516 |
| Science Applications International Corp., 4.88%, <br> 04/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3155 | 3080750 |
| Seagate HDD Cayman |  |  |
| 4.09%, 06/01/29 | &nbsp;&nbsp; 1807 | 1702911 |
| 4.75%, 01/01/25 | &nbsp;&nbsp; 3955 | 3939156 |
| 4.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 4236 | 4177628 |
| Unisys Corp., 6.88%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3872 | 3801820 |
| Virtusa Corp., 7.13%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 2630 | 2551100 |
| Western Digital Corp., 4.75%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 18534 | 18365155 |
|  |  | 69295402 |
| **Cosmetics & Personal Care — 0.4%** | **Cosmetics & Personal Care — 0.4%** | **Cosmetics & Personal Care — 0.4%** |
| Coty Inc., 5.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4695 | 4671525 |
| Coty Inc./HFC Prestige Products Inc./HFC Prestige <br> International U.S. LLC, 4.75%, 01/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3920 | 3776640 |
| Edgewell Personal Care Co. |  |  |
| 4.13%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3850 | 3580981 |
| 5.50%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5955 | 5880563 |
| Perrigo Finance Unlimited Co., 3.90%, 12/15/24 | &nbsp;&nbsp; 3355 | 3348256 |
| Prestige Brands Inc., 5.13%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2935 | 2874119 |
|  |  | 24132084 |
| **Distribution & Wholesale — 0.7%** | **Distribution & Wholesale — 0.7%** | **Distribution & Wholesale — 0.7%** |
| American Builders & Contractors Supply Co. Inc., <br> 4.00%, 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 5540 | 5267931 |
| BCPE Empire Holdings Inc., 7.63%, 05/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5574 | 5617895 |
| Dealer Tire LLC/DT Issuer LLC, 8.00%, <br> 02/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4050 | 3995770 |
| Gates Corp./DE, 6.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3775 | 3870791 |
| H&E Equipment Services Inc., 3.88%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9805 | 9058202 |
| Ritchie Bros Holdings Inc., 6.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4278 | 4386554 |
| Velocity Vehicle Group LLC, 8.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3850 | 3934931 |
| Wesco Aircraft Holdings Inc. |  |  |
| 8.50%, 11/15/24<sup>(a)(d)(e)</sup> | &nbsp;&nbsp; 5855 | 690890 |
| 9.00%, 11/15/26<sup>(a)(b)(d)(e)</sup> | &nbsp;&nbsp; 9112 | 3904492 |
|  |  | 40727456 |
| **Diversified Financial Services — 4.5%** | **Diversified Financial Services — 4.5%** | **Diversified Financial Services — 4.5%** |
| AG Issuer LLC, 6.25%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4110 | 4025040 |
| AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 4156 | 4280680 |
| Ally Financial Inc., 5.75%, 11/20/25<sup>(b)</sup> | &nbsp;&nbsp; 8173 | 8212079 |
| Aretec Group Inc., 7.50%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3025 | 2908040 |
| Bread Financial Holdings Inc., 9.75%, <br> 03/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7100 | 7489605 |
| Burford Capital Global Finance LLC, 6.25%, <br> 04/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2950 | 2942625 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Castlelake Aviation Finance DAC, 5.00%, <br> 04/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $2935 | $2951436 |
| Coinbase Global Inc., 3.38%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8030 | 7125385 |
| Credit Acceptance Corp. |  |  |
| 6.63%, 03/15/26 | &nbsp;&nbsp; 3507 | 3495602 |
| 9.25%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4850 | 5130301 |
| Encore Capital Group Inc., 9.25%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3815 | 4058922 |
| Enova International Inc. |  |  |
| 9.13%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2075 | 2131163 |
| 11.25%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3425 | 3690951 |
| Freedom Mortgage Holdings LLC, 9.25%, <br> 02/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 8875 | 9096875 |
| GGAM Finance Ltd. |  |  |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3140 | 3202800 |
| 8.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5615 | 5787605 |
| 8.00%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4750 | 5010823 |
| 7.75%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3420 | 3481047 |
| Global Aircraft Leasing Co. Ltd., 8.75%, <br> 09/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5125 | 5277969 |
| goeasy Ltd. |  |  |
| 7.63%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4700 | 4828310 |
| 9.25%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4630 | 4918588 |
| GPS Hospitality Holding Co. LLC/GPS Finco Inc., <br> 7.00%, 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3005 | 1861447 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp., <br> 5.00%, 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 7925 | 7309238 |
| Jefferson Capital Holdings LLC, 9.50%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3250 | 3459869 |
| LD Holdings Group LLC, 6.13%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3930 | 3379800 |
| Midcap Financial Issuer Trust, 6.50%, <br> 05/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8030 | 7598387 |
| Nationstar Mortgage Holdings Inc. |  |  |
| 5.00%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 4142 | 4098664 |
| 5.50%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7065 | 6890583 |
| 6.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4517 | 4498291 |
| 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3585 | 3586864 |
| Navient Corp. |  |  |
| 4.88%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 3955 | 3763290 |
| 5.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5569 | 5471598 |
| 5.50%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5990 | 5705475 |
| 6.75%, 06/25/25 | &nbsp;&nbsp; 4172 | 4190065 |
| 6.75%, 06/15/26 | &nbsp;&nbsp; 3792 | 3860269 |
| OneMain Finance Corp. |  |  |
| 3.50%, 01/15/27 | &nbsp;&nbsp; 6200 | 5906926 |
| 3.88%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 4810 | 4438857 |
| 6.63%, 01/15/28 | &nbsp;&nbsp; 6390 | 6496394 |
| 6.63%, 05/15/29 | &nbsp;&nbsp; 1755 | 1755000 |
| 7.13%, 03/15/26 | &nbsp;&nbsp; 12546 | 12853377 |
| 9.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 7310 | 7743012 |
| Osaic Holdings Inc., 10.75%, 08/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 2913 | 3007673 |
| Oxford Finance LLC/Oxford Finance Co-Issuer <br> II Inc., 6.38%, 02/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 3006 | 2952769 |
| PennyMac Financial Services Inc. |  |  |
| 4.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5435 | 5052488 |
| 5.38%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5554 | 5525675 |
| PHH Escrow Issuer LLC, 9.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3750 | 3674414 |
| PHH Mortgage Corp., 7.88%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3391 | 3455825 |
| PRA Group Inc., 8.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3210 | 3300813 |
| Provident Funding Associates LP/PFG Finance <br> Corp., 9.75%, 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3025 | 3093063 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer Inc.<br>|  |  |
| 2.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; $8989 | $8555481 |
| 3.63%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5945 | 5480101 |
| SLM Corp. |  |  |
| 3.13%, 11/02/26 | &nbsp;&nbsp; 3914 | 3714149 |
| 4.20%, 10/29/25<sup>(b)</sup> | &nbsp;&nbsp; 4394 | 4317544 |
| United Wholesale Mortgage LLC |  |  |
| 5.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 6716 | 6682420 |
| 5.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5550 | 5289065 |
| 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3761 | 3695149 |
|  |  | 272709881 |
| **Electric — 2.2%** | **Electric — 2.2%** | **Electric — 2.2%** |
| Atlantica Sustainable Infrastructure PLC, 4.13%, <br> 06/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2995 | 2859596 |
| Calpine Corp. |  |  |
| 4.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9845 | 9472662 |
| 4.63%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5260 | 4986414 |
| 5.13%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11070 | 10817939 |
| 5.25%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 850 | 841798 |
| Clearway Energy Operating LLC, 4.75%, <br> 03/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 6735 | 6531638 |
| DPL Inc. |  |  |
| 4.13%, 07/01/25<sup>(b)</sup> | &nbsp;&nbsp; 3590 | 3557475 |
| 4.35%, 04/15/29 | &nbsp;&nbsp; 3175 | 2975504 |
| Leeward Renewable Energy Operations LLC, <br> 4.25%, 07/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 25 | 23335 |
| NextEra Energy Operating Partners LP |  |  |
| 3.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4125 | 3979081 |
| 4.50%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4385 | 4209600 |
| 7.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6205 | 6383831 |
| NRG Energy Inc. |  |  |
| 3.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3890 | 3543563 |
| 5.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5850 | 5718375 |
| 5.75%, 01/15/28 | &nbsp;&nbsp; 6865 | 6871590 |
| 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6075 | 6000050 |
| Pattern Energy Operations LP/Pattern Energy <br> Operations Inc., 4.50%, 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 5595 | 5317824 |
| PG&E Corp., 5.00%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 7997 | 7699112 |
| Pike Corp., 5.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5722 | 5598922 |
| Terraform Global Operating LP, 6.13%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2810 | 2802835 |
| Vistra Operations Co. LLC |  |  |
| 4.38%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2823 | 2681321 |
| 5.00%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp; 10428 | 10278462 |
| 5.50%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 8160 | 8118710 |
| 5.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10466 | 10439835 |
|  |  | 131709472 |
| **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** |
| Energizer Holdings Inc. |  |  |
| 4.38%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6425 | 5991313 |
| 4.75%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4975 | 4780498 |
| WESCO Distribution Inc. |  |  |
| 6.38%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6980 | 7117506 |
| 7.25%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10640 | 10882055 |
|  |  | 28771372 |
| **Electronics — 0.4%** | **Electronics — 0.4%** | **Electronics — 0.4%** |
| Imola Merger Corp., 4.75%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11610 | 11284107 |
| Sensata Technologies BV, 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7968 | 7451913 |
| TTM Technologies Inc., 4.00%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3930 | 3674550 |
|  |  | 22410570 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Energy - Alternate Sources — 0.2%** | **Energy - Alternate Sources — 0.2%** | **Energy - Alternate Sources — 0.2%** |
| Sunnova Energy Corp. |  |  |
| 5.88%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; $3126 | $2788587 |
| 11.75%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3075 | 2509969 |
| TerraForm Power Operating LLC, 5.00%, <br> 01/31/28<sup>(a)</sup><br>| &nbsp;&nbsp; 5656 | 5528740 |
|  |  | 10827296 |
| **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** |
| AECOM, 5.13%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 7948 | 7896338 |
| Arcosa Inc., 4.38%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3250 | 3059388 |
| Brundage-Bone Concrete Pumping Holdings Inc., <br> 6.00%, 02/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2888 | 2873676 |
| Dycom Industries Inc., 4.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3917 | 3701066 |
| Fluor Corp., 4.25%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 4770 | 4585162 |
| Global Infrastructure Solutions Inc., 5.63%, <br> 06/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3250 | 3168750 |
| TopBuild Corp., 3.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3225 | 2954502 |
| Tutor Perini Corp., 11.88%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; 3045 | 3320086 |
| Weekley Homes LLC/Weekley Finance Corp., <br> 4.88%, 09/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3155 | 3005232 |
|  |  | 34564200 |
| **Entertainment — 3.1%** | **Entertainment — 3.1%** | **Entertainment — 3.1%** |
| Affinity Interactive, 6.88%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4370 | 3567949 |
| AMC Entertainment Holdings Inc. |  |  |
| 7.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7380 | 6365250 |
| 10.00%, 06/15/26, <br> (10.00% Cash or 12.00% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 8025 | 8049476 |
| Banijay Entertainment SASU, 8.13%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3025 | 3134656 |
| Boyne USA Inc., 4.75%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5330 | 5083239 |
| Caesars Entertainment Inc. |  |  |
| 4.63%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8425 | 7898438 |
| 8.13%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4878 | 4977728 |
| Cedar Fair LP/Canada's Wonderland Co./Magnum <br> Management Corp./Millennium Op<br>|  |  |
| 5.25%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 2675 | 2576560 |
| 5.38%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3845 | 3812838 |
| Churchill Downs Inc. |  |  |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5570 | 5402844 |
| 5.50%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4900 | 4864034 |
| Cinemark USA Inc., 5.25%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5981 | 5868856 |
| Great Canadian Gaming Corp., 8.75%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1330 | 1330000 |
| International Game Technology PLC |  |  |
| 4.13%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5480 | 5400981 |
| 5.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5910 | 5805994 |
| 6.25%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6085 | 6135749 |
| Jacobs Entertainment Inc., 6.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3881 | 3813341 |
| Light & Wonder International Inc., 7.00%, <br> 05/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5915 | 5937462 |
| Lions Gate Capital Holdings 1 Inc., 5.50%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3225 | 2845966 |
| Live Nation Entertainment Inc. |  |  |
| 3.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4215 | 3974829 |
| 4.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7590 | 7380212 |
| 4.88%, 11/01/24<sup>(a)</sup> | &nbsp;&nbsp; 4616 | 4616000 |
| 6.50%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9470 | 9607146 |
| Merlin Entertainments Ltd., 5.75%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2976 | 2928048 |
| Midwest Gaming Borrower LLC/Midwest Gaming <br> Finance Corp., 4.88%, 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5915 | 5584137 |
| Mohegan Tribal Gaming Authority |  |  |
| 8.00%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 9301 | 9231243 |
| 13.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 425 | 481537 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Motion Bondco DAC, 6.63%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; $3455 | $3259684 |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3174 | 3340635 |
| Penn Entertainment Inc. |  |  |
| 4.13%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3050 | 2738608 |
| 5.63%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3251 | 3186842 |
| Premier Entertainment Sub LLC/Premier <br> Entertainment Finance Corp., 5.63%, <br> 09/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5475 | 3862156 |
| Raptor Acquisition Corp./Raptor Co-Issuer LLC, <br> 4.88%, 11/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2896 | 2888579 |
| Resorts World Las Vegas LLC/RWLV Capital Inc., <br> 4.63%, 04/16/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7925 | 6978200 |
| SeaWorld Parks & Entertainment Inc., 5.25%, <br> 08/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5550 | 5332870 |
| Six Flags Entertainment Corp./DE, 5.50%, <br> 04/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3870 | 3845813 |
| Six Flags Theme Parks Inc., 7.00%, 07/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 1539 | 1538591 |
| Speedway Motorsports LLC/Speedway Funding <br> II Inc., 4.88%, 11/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2725 | 2642896 |
| Universal Entertainment Corp., 9.88%, <br> 08/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2050 | 2060250 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital <br> Corp., 5.13%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5325 | 5171906 |
|  |  | 183521543 |
| **Environmental Control — 1.0%** | **Environmental Control — 1.0%** | **Environmental Control — 1.0%** |
| Clean Harbors Inc., 4.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4285 | 4222396 |
| Enviri Corp., 5.75%, 07/31/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3881 | 3740314 |
| GFL Environmental Inc. |  |  |
| 3.50%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6025 | 5645606 |
| 3.75%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 5982 | 5922180 |
| 4.00%, 08/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5950 | 5626210 |
| 4.38%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4000 | 3749165 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5965 | 5697321 |
| 5.13%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3618 | 3585402 |
| Madison IAQ LLC |  |  |
| 4.13%, 06/30/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5255 | 4992393 |
| 5.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 8075 | 7659541 |
| Stericycle Inc., 3.88%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4005 | 3946740 |
| Waste Pro USA Inc., 5.50%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3950 | 3937719 |
|  |  | 58724987 |
| **Food — 2.0%** | **Food — 2.0%** | **Food — 2.0%** |
| Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| 3.25%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5956 | 5755564 |
| 3.50%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11098 | 10269534 |
| 4.63%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 11427 | 11184176 |
| 5.88%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6145 | 6154717 |
| 6.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6490 | 6613245 |
| 7.50%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4909 | 4971148 |
| B&G Foods Inc. |  |  |
| 5.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 4452 | 4315267 |
| 8.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6125 | 6347031 |
| C&S Group Enterprises LLC, 5.00%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3005 | 2481098 |
| Chobani Holdco II LLC, 8.75%, 10/01/29, <br> (8.75% cash and 9.5% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 2010 | 2074008 |
| Chobani LLC/Chobani Finance Corp. Inc. |  |  |
| 4.63%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3175 | 3048000 |
| 7.63%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3900 | 4065750 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| KeHE Distributors LLC/KeHE Finance <br> Corp./NextWave Distribution Inc., 9.00%, <br> 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; $6100 | $6310877 |
| Lamb Weston Holdings Inc., 4.88%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3905 | 3824888 |
| Performance Food Group Inc. |  |  |
| 4.25%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7575 | 7075997 |
| 5.50%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7990 | 7927412 |
| Post Holdings Inc., 5.63%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 2897 | 2921595 |
| Simmons Foods Inc./Simmons Prepared <br> Foods Inc./Simmons Pet Food Inc./Simmons <br> Feed, 4.63%, 03/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6675 | 6182719 |
| TreeHouse Foods Inc., 4.00%, 09/01/28 | &nbsp;&nbsp; 3821 | 3475391 |
| U.S. Foods Inc. |  |  |
| 4.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6825 | 6579368 |
| 6.88%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4075 | 4194357 |
| United Natural Foods Inc., 6.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3795 | 3661644 |
|  |  | 119433786 |
| **Food Service — 0.4%** | **Food Service — 0.4%** | **Food Service — 0.4%** |
| Aramark Services Inc. |  |  |
| 5.00%, 04/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 4768 | 4755891 |
| 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8800 | 8635968 |
| TKC Holdings Inc. |  |  |
| 6.88%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3325 | 3275545 |
| 10.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5485 | 5551848 |
|  |  | 22219252 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| Domtar Corp., 6.75%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5284 | 4828750 |
| Mercer International Inc. |  |  |
| 5.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 6966 | 6000262 |
| 12.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1030 | 1088482 |
|  |  | 11917494 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |
| 5.50%, 05/20/25 | &nbsp;&nbsp; 270 | 268623 |
| 5.75%, 05/20/27 | &nbsp;&nbsp; 4197 | 4035153 |
| 5.88%, 08/20/26 | &nbsp;&nbsp; 5490 | 5368374 |
| 9.38%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4045 | 4161294 |
|  |  | 13833444 |
| **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** |
| Werner FinCo LP/Werner FinCo Inc., 11.50%, <br> 06/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3090 | 3432712 |
| **Health Care - Products — 1.4%** | **Health Care - Products — 1.4%** | **Health Care - Products — 1.4%** |
| Avantor Funding Inc., 4.63%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11890 | 11485244 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11175 | 11742727 |
| Hologic Inc. |  |  |
| 3.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7169 | 6586017 |
| 4.63%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3160 | 3088979 |
| Medline Borrower LP |  |  |
| 3.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 19450 | 18200337 |
| 5.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 17725 | 17175879 |
| Medline Borrower LP/Medline Co-Issuer Inc., <br> 6.25%, 04/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 9735 | 9903623 |
| Teleflex Inc. |  |  |
| 4.25%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3800 | 3647126 |
| 4.63%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3689 | 3618725 |
|  |  | 85448657 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services — 3.4%** | **Health Care - Services — 3.4%** | **Health Care - Services — 3.4%** |
| Acadia Healthcare Co. Inc. |  |  |
| 5.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; $3725 | $3490288 |
| 5.50%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3555 | 3448350 |
| Catalent Pharma Solutions Inc. |  |  |
| 3.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 50 | 48488 |
| 5.00%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3311 | 3285369 |
| Charles River Laboratories International Inc. |  |  |
| 3.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3950 | 3616419 |
| 4.25%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4055 | 3857136 |
| CHS/Community Health Systems Inc. |  |  |
| 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 14914 | 14557306 |
| 6.00%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5115 | 4811119 |
| 6.88%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4725 | 3884738 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9500 | 8022750 |
| 8.00%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5585 | 5581719 |
| Encompass Health Corp. |  |  |
| 4.50%, 02/01/28 | &nbsp;&nbsp; 6520 | 6334359 |
| 5.75%, 09/15/25<sup>(b)</sup> | &nbsp;&nbsp; 1140 | 1137786 |
| HealthEquity Inc., 4.50%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3360 | 3199854 |
| Heartland Dental LLC/Heartland Dental Finance <br> Corp., 10.50%, 04/30/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5505 | 5839887 |
| IQVIA Inc. |  |  |
| 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8081 | 7992322 |
| 5.00%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8320 | 8216000 |
| Kedrion SpA, 6.50%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5700 | 5358000 |
| LifePoint Health Inc. |  |  |
| 4.38%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4626 | 4481484 |
| 5.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3770 | 3431328 |
| Molina Healthcare Inc., 4.38%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6429 | 6151348 |
| MPH Acquisition Holdings LLC, 5.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8135 | 5468998 |
| Prime Healthcare Services Inc., 9.38%, <br> 09/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11135 | 11314830 |
| Quorum Health Corp., 11.63%, 04/15/23<sup>(f)</sup> | &nbsp;&nbsp; 2653 |  |
| Radiology Partners Inc., 7.78%, 01/31/29, <br> (4.28% Cash and 3.50% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 5433 | 5391937 |
| Select Medical Corp., 6.25%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 9826 | 9850270 |
| Tenet Healthcare Corp. |  |  |
| 4.25%, 06/01/29 | &nbsp;&nbsp; 8285 | 7847412 |
| 4.63%, 06/15/28 | &nbsp;&nbsp; 4450 | 4301036 |
| 5.13%, 11/01/27 | &nbsp;&nbsp; 11319 | 11229467 |
| 6.13%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 20025 | 20050031 |
| 6.25%, 02/01/27 | &nbsp;&nbsp; 12064 | 12075954 |
| U.S. Acute Care Solutions LLC, 9.75%, <br> 05/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6065 | 6190545 |
| US Renal Care Inc., 10.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2159 | 1438404 |
|  |  | 201904934 |
| **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** |
| Benteler International AG, Class A, 10.50%, <br> 05/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4025 | 4181195 |
| Compass Group Diversified Holdings LLC, 5.25%, <br> 04/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8050 | 7738645 |
| Icahn Enterprises LP/Icahn Enterprises <br> Finance Corp.<br>|  |  |
| 4.38%, 02/01/29 | &nbsp;&nbsp; 5741 | 4775364 |
| 5.25%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 11152 | 10385622 |
| 6.25%, 05/15/26 | &nbsp;&nbsp; 9521 | 9304397 |
| 9.75%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5630 | 5610858 |
|  |  | 41996081 |
| **Home Builders — 1.1%** | **Home Builders — 1.1%** | **Home Builders — 1.1%** |
| Adams Homes Inc., 9.25%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2835 | 2959327 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Builders (continued)** | **Home Builders (continued)** | **Home Builders (continued)** |
| Ashton Woods USA LLC/Ashton Woods Finance <br> Co., 4.63%, 08/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $2650 | $2468475 |
| Beazer Homes USA Inc., 5.88%, 10/15/27 | &nbsp;&nbsp; 2846 | 2811848 |
| Brookfield Residential Properties Inc./Brookfield <br> Residential U.S. LLC<br>|  |  |
| 5.00%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2640 | 2486608 |
| 6.25%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4838 | 4804279 |
| Century Communities Inc. |  |  |
| 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3775 | 3429569 |
| 6.75%, 06/01/27 | &nbsp;&nbsp; 4160 | 4185002 |
| Empire Communities Corp. |  |  |
| 7.00%, 12/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 3500 | 3508531 |
| 9.75%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3545 | 3702788 |
| Forestar Group Inc., 3.85%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2896 | 2818049 |
| K Hovnanian Enterprises Inc., 11.75%, <br> 09/30/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2600 | 2866323 |
| LGI Homes Inc., 8.75%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3260 | 3429911 |
| M/I Homes Inc., 4.95%, 02/01/28 | &nbsp;&nbsp; 3175 | 3067812 |
| Mattamy Group Corp., 5.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3960 | 3889421 |
| Shea Homes LP/Shea Homes Funding Corp., <br> 4.75%, 02/15/28<br>| &nbsp;&nbsp; 3682 | 3506258 |
| Taylor Morrison Communities Inc. |  |  |
| 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3585 | 3584140 |
| 5.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3925 | 3933714 |
| Thor Industries Inc., 4.00%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3385 | 3088474 |
| Tri Pointe Homes Inc., 5.70%, 06/15/28 | &nbsp;&nbsp; 2725 | 2710903 |
|  |  | 63251432 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Tempur Sealy International Inc., 4.00%, <br> 04/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6296 | 5792714 |
| **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** |
| 1011778 BC ULC/New Red Finance Inc., 6.13%, <br> 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5220 | 5307800 |
| **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** |
| ACCO Brands Corp., 4.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4475 | 4105813 |
| **Housewares — 0.6%** | **Housewares — 0.6%** | **Housewares — 0.6%** |
| CD&R Smokey Buyer, Inc./Radio Systems Corp., <br> 9.50%, 10/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5290 | 5358347 |
| Newell Brands Inc. |  |  |
| 4.88%, 06/01/25 | &nbsp;&nbsp; 4121 | 4114703 |
| 5.70%, 04/01/26 | &nbsp;&nbsp; 16164 | 16192287 |
| 6.38%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 4286 | 4339486 |
| 6.63%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3175 | 3223069 |
| Scotts Miracle-Gro Co. (The), 4.50%, 10/15/29 | &nbsp;&nbsp; 1500 | 1414219 |
|  |  | 34642111 |
| **Insurance — 1.3%** | **Insurance — 1.3%** | **Insurance — 1.3%** |
| Acrisure LLC/Acrisure Finance Inc. |  |  |
| 4.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5490 | 5167463 |
| 6.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3850 | 3640693 |
| 8.25%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7355 | 7474519 |
| 8.50%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3835 | 3934307 |
| Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer<br>|  |  |
| 4.25%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6130 | 5815838 |
| 6.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 10773 | 10725868 |
| 6.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9905 | 9951669 |
| AmWINS Group Inc. |  |  |
| 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 6025 | 5680882 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| 6.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; $5677 | $5702314 |
| APH Somerset Investor 2 LLC/APH2 Somerset <br> Investor 2 LLC/APH3 Somerset Inves, 7.88%, <br> 11/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5950 | 5943514 |
| AssuredPartners Inc., 5.63%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4275 | 4040367 |
| BroadStreet Partners Inc., 5.88%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5875 | 5595289 |
| FWD Group Holdings Ltd., 8.40%, 04/05/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5825 | 6169050 |
|  |  | 79841773 |
| **Internet — 2.1%** | **Internet — 2.1%** | **Internet — 2.1%** |
| Acuris Finance U.S. Inc./Acuris Finance SARL |  |  |
| 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3125 | 2812500 |
| 9.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2900 | 2844465 |
| ANGI Group LLC, 3.88%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3900 | 3536325 |
| Arches Buyer Inc. |  |  |
| 4.25%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7145 | 6526243 |
| 6.13%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3845 | 3370143 |
| Cablevision Lightpath LLC |  |  |
| 3.88%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3341 | 3172836 |
| 5.63%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3115 | 2896420 |
| Cars.com Inc., 6.38%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3150 | 3142125 |
| Cogent Communications Group LLC |  |  |
| 3.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3796 | 3692787 |
| 7.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3486 | 3521801 |
| Gen Digital Inc. |  |  |
| 5.00%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 9039 | 9015129 |
| 6.75%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 7113 | 7237478 |
| Go Daddy Operating Co. LLC/GD Finance Co. Inc. |  |  |
| 3.50%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 6105 | 5626523 |
| 5.25%, 12/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4605 | 4544847 |
| GrubHub Holdings Inc., 5.50%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4150 | 3864925 |
| ION Trading Technologies SARL |  |  |
| 5.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3845 | 3482609 |
| 9.50%, 05/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4755 | 4838213 |
| Match Group Holdings II LLC |  |  |
| 4.63%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4069 | 3915802 |
| 5.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3675 | 3585477 |
| 5.63%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2605 | 2563869 |
| Newfold Digital Holdings Group Inc. |  |  |
| 6.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5314 | 3580839 |
| 11.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3915 | 3865837 |
| Rakuten Group Inc. |  |  |
| 9.75%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15175 | 16351062 |
| 10.25%, 11/30/24<sup>(a)</sup> | &nbsp;&nbsp; 350 | 351439 |
| 11.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 13810 | 14996003 |
| Shutterfly Finance LLC, 8.50%, 10/01/27, (4.25% <br> Cash and 4.25% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 2331 | 2062817 |
| Uber Technologies Inc. |  |  |
| 6.25%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 555 | 560065 |
| 8.00%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 674 | 673771 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2426 | 2454869 |
|  |  | 129087219 |
| **Iron & Steel — 1.0%** | **Iron & Steel — 1.0%** | **Iron & Steel — 1.0%** |
| Algoma Steel Inc., 9.13%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2725 | 2800964 |
| ATI Inc., 5.88%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 2800 | 2776192 |
| Baffinland Iron Mines Corp./Baffinland Iron <br> Mines LP, 8.75%, 07/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4491 | 4049018 |
| Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3245 | 3278991 |
| Carpenter Technology Corp., 6.38%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 3350 | 3354690 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Iron & Steel (continued)** | **Iron & Steel (continued)** | **Iron & Steel (continued)** |
| Cleveland-Cliffs Inc. |  |  |
| 4.63%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $2800 | $2618509 |
| 5.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 4424 | 4420372 |
| 6.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4900 | 4919502 |
| Infrabuild Australia Pty. Ltd., 14.50%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2600 | 2559529 |
| Mineral Resources Ltd. |  |  |
| 8.00%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5180 | 5309500 |
| 8.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5745 | 5785847 |
| 9.25%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8690 | 9149565 |
| TMS International Corp./DE, 6.25%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2725 | 2635647 |
| U.S. Steel Corp., 6.88%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 3870 | 3894536 |
|  |  | 57552862 |
| **Leisure Time — 1.9%** | **Leisure Time — 1.9%** | **Leisure Time — 1.9%** |
| Acushnet Co., 7.38%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 2745 | 2862377 |
| Carnival Holdings Bermuda Ltd., 10.38%, <br> 05/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 16275 | 17466818 |
| Life Time Inc. |  |  |
| 5.75%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 7690 | 7685771 |
| 8.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3866 | 3884364 |
| Lindblad Expeditions LLC, 6.75%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3117 | 3128056 |
| MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3925 | 3756961 |
| NCL Corp. Ltd. |  |  |
| 3.63%, 12/15/24<sup>(a)(b)</sup> | &nbsp;&nbsp; 3355 | 3344935 |
| 5.88%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 11462 | 11396094 |
| 5.88%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8222 | 8211723 |
| 7.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4730 | 4992799 |
| 8.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6395 | 6772901 |
| 8.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4915 | 5145759 |
| NCL Finance Ltd., 6.13%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4145 | 4169028 |
| Sabre GLBL Inc. |  |  |
| 8.63%, 06/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7093 | 6834176 |
| 11.25%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4485 | 4612598 |
| Viking Cruises Ltd. |  |  |
| 5.88%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6576 | 6533979 |
| 7.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3975 | 4013120 |
| Viking Ocean Cruises Ship VII Ltd., 5.63%, <br> 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2561 | 2518870 |
| Vista Outdoor Inc., 4.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 250 | 254312 |
| VOC Escrow Ltd., 5.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5400 | 5236974 |
|  |  | 112821615 |
| **Lodging — 2.8%** | **Lodging — 2.8%** | **Lodging — 2.8%** |
| Boyd Gaming Corp., 4.75%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 7897 | 7746193 |
| Full House Resorts Inc., 8.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3600 | 3589524 |
| Genting New York LLC/GENNY Capital Inc., <br> 7.25%, 10/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3080 | 3125692 |
| Hilton Domestic Operating Co. Inc. |  |  |
| 3.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1700 | 1583140 |
| 5.38%, 05/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 4095 | 4090905 |
| 5.75%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4130 | 4141853 |
| 5.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4345 | 4383497 |
| Hilton Grand Vacations Borrower <br> Escrow LLC/Hilton Grand Vacations Borrower <br> Esc, 5.00%, 06/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6600 | 6202350 |
| Hilton Worldwide Finance LLC/Hilton Worldwide <br> Finance Corp., 4.88%, 04/01/27<br>| &nbsp;&nbsp; 5040 | 4993454 |
| Marriott Ownership Resorts Inc., 4.50%, <br> 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3775 | 3500703 |
| Melco Resorts Finance Ltd. |  |  |
| 4.88%, 06/06/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 8485 | 8385301 |
| 5.25%, 04/26/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3717 | 3642586 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| 5.63%, 07/17/27<sup>(a)(b)</sup> | &nbsp;&nbsp; $4746 | $4603215 |
| 5.75%, 07/21/28<sup>(a)</sup> | &nbsp;&nbsp; 6485 | 6184809 |
| MGM China Holdings Ltd. |  |  |
| 4.75%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6071 | 5868421 |
| 5.25%, 06/18/25<sup>(a)</sup> | &nbsp;&nbsp; 3946 | 3924045 |
| 5.88%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5660 | 5629289 |
| MGM Resorts International |  |  |
| 4.63%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 3415 | 3377648 |
| 4.75%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6505 | 6274886 |
| 5.50%, 04/15/27 | &nbsp;&nbsp; 5412 | 5400905 |
| 6.13%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3765 | 3750881 |
| Station Casinos LLC, 4.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5559 | 5307900 |
| Studio City Co. Ltd., 7.00%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 2844 | 2853796 |
| Studio City Finance Ltd. |  |  |
| 5.00%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8620 | 7787998 |
| 6.50%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4058 | 3905825 |
| Travel & Leisure Co. |  |  |
| 6.00%, 04/01/27 | &nbsp;&nbsp; 3264 | 3295302 |
| 6.60%, 10/01/25 | &nbsp;&nbsp; 3231 | 3256202 |
| 6.63%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp; 5016 | 5051463 |
| Wyndham Hotels & Resorts Inc., 4.38%, <br> 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3870 | 3674255 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital <br> Corp., 5.25%, 05/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7165 | 7113781 |
| Wynn Macau Ltd. |  |  |
| 5.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8000 | 7907200 |
| 5.50%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6121 | 5929130 |
| 5.63%, 08/26/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10640 | 10214932 |
|  |  | 166697081 |
| **Machinery — 1.0%** | **Machinery — 1.0%** | **Machinery — 1.0%** |
| ATS Corp., 4.13%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2787 | 2605248 |
| BWX Technologies Inc. |  |  |
| 4.13%, 06/30/28<sup>(a)</sup> | &nbsp;&nbsp; 3055 | 2910220 |
| 4.13%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3001 | 2839109 |
| Esab Corp., 6.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4850 | 4935893 |
| GrafTech Finance Inc., 4.63%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4310 | 3060100 |
| GrafTech Global Enterprises Inc., 9.88%, <br> 12/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3745 | 3140203 |
| Husky Injection Molding Systems Ltd./Titan <br> Co-Borrower LLC, 9.00%, 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7775 | 8000475 |
| Maxim Crane Works Holdings Capital LLC, <br> 11.50%, 09/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4085 | 4381500 |
| Mueller Water Products Inc., 4.00%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3425 | 3179017 |
| Terex Corp., 5.00%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4850 | 4662360 |
| TK Elevator Holdco GmbH, 7.63%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3355 | 3370950 |
| TK Elevator U.S. Newco Inc., 5.25%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 12064 | 11860460 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6605 | 6294631 |
|  |  | 61240166 |
| **Manufacturing — 0.6%** | **Manufacturing — 0.6%** | **Manufacturing — 0.6%** |
| Amsted Industries Inc., 5.63%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2946 | 2916856 |
| Calderys Financing LLC, 11.25%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4355 | 4635288 |
| Enpro Inc., 5.75%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 2435 | 2428580 |
| FXI Holdings Inc. |  |  |
| 12.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3861 | 3833104 |
| 12.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5836 | 5791865 |
| Hillenbrand Inc. |  |  |
| 5.00%, 09/15/26 | &nbsp;&nbsp; 3160 | 3137123 |
| 6.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3935 | 3954754 |
| LSB Industries Inc., 6.25%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4694 | 4538065 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Manufacturing (continued)** | **Manufacturing (continued)** | **Manufacturing (continued)** |
| Trinity Industries Inc., 7.75%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; $4520 | $4678200 |
|  |  | 35913835 |
| **Media — 8.3%** | **Media — 8.3%** | **Media — 8.3%** |
| AMC Networks Inc. |  |  |
| 4.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 7575 | 5231825 |
| 10.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6622 | 6820660 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| 5.00%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 19640 | 19011520 |
| 5.13%, 05/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 25481 | 24944370 |
| 5.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 11325 | 10829531 |
| 5.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5470 | 5454110 |
| 6.38%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9850 | 9751500 |
| CSC Holdings LLC |  |  |
| 5.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8030 | 6870267 |
| 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10240 | 9113600 |
| 6.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 13924 | 11774482 |
| 7.50%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7100 | 4686000 |
| 11.25%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8320 | 8112000 |
| 11.75%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 16280 | 15893373 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 28836 | 27790695 |
| DISH DBS Corp. |  |  |
| 5.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 22193 | 20528525 |
| 5.75%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 20060 | 17527425 |
| 5.88%, 11/15/24 | &nbsp;&nbsp; 16689 | 16542971 |
| 7.38%, 07/01/28 | &nbsp;&nbsp; 7000 | 5127500 |
| 7.75%, 07/01/26 | &nbsp;&nbsp; 15825 | 13372125 |
| 5.13%, 06/01/29 | &nbsp;&nbsp; 10000 | 6645000 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 28865 | 30380412 |
| GCI LLC, 4.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4610 | 4343726 |
| Gray Television Inc. |  |  |
| 7.00%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5136 | 4994974 |
| 10.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9520 | 9888900 |
| iHeartCommunications Inc., 6.38%, 05/01/26 | &nbsp;&nbsp; 6775 | 5694591 |
| LCPR Senior Secured Financing DAC |  |  |
| 5.13%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5875 | 4938525 |
| 6.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9130 | 8513999 |
| McGraw-Hill Education Inc. |  |  |
| 5.75%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6825 | 6681607 |
| 8.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5475 | 5505407 |
| News Corp., 3.88%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7475 | 6977913 |
| Nexstar Media Inc. |  |  |
| 4.75%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7521 | 7064569 |
| 5.63%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 13365 | 13126936 |
| Radiate Holdco LLC/Radiate Finance Inc. |  |  |
| 4.50%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 7821 | 6761020 |
| 6.50%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7275 | 4981993 |
| Scripps Escrow II Inc., 3.88%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4395 | 3417113 |
| Sirius XM Radio Inc. |  |  |
| 3.13%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 8128 | 7793468 |
| 4.00%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 15140 | 14161956 |
| 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 11620 | 11374702 |
| 5.50%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7400 | 7184660 |
| Sunrise HoldCo IV BV, 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3330 | 3288375 |
| TEGNA Inc. |  |  |
| 4.63%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 8315 | 7830568 |
| 4.75%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4510 | 4464071 |
| 5.00%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 8300 | 7750679 |
| Telenet Finance Luxembourg Notes SARL, 5.50%, <br> 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 7400 | 7224250 |
| Townsquare Media Inc., 6.88%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4856 | 4830457 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Univision Communications Inc. |  |  |
| 4.50%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $7930 | $7044114 |
| 6.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 11794 | 11703363 |
| 8.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11290 | 11466801 |
| Urban One Inc., 7.38%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5690 | 4223758 |
| Virgin Media Secured Finance PLC, 5.50%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 10800 | 10209737 |
| Virgin Media Vendor Financing Notes IV DAC, <br> 5.00%, 07/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3755 | 3592292 |
| Ziggo Bond Co. BV, 6.00%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4846 | 4831037 |
|  |  | 498273452 |
| **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** |
| Advanced Drainage Systems Inc., 5.00%, <br> 09/30/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2817 | 2764785 |
| **Mining — 0.7%** | **Mining — 0.7%** | **Mining — 0.7%** |
| Alcoa Nederland Holding BV |  |  |
| 4.13%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4221 | 3964999 |
| 5.50%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3020 | 2989468 |
| 6.13%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 1620 | 1622997 |
| Compass Minerals International Inc., 6.75%, <br> 12/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4127 | 4065301 |
| Constellium SE, 3.75%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4025 | 3643401 |
| FMG Resources August 2006 Pty. Ltd., 4.50%, <br> 09/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4778 | 4647446 |
| Hecla Mining Co., 7.25%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 3975 | 4019679 |
| Kaiser Aluminum Corp., 4.63%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4105 | 3909435 |
| New Gold Inc., 7.50%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3657 | 3711689 |
| Novelis Corp., 3.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6029 | 5798555 |
| Perenti Finance Pty Ltd. |  |  |
| 6.50%, 10/07/25<sup>(a)</sup> | &nbsp;&nbsp; 1101 | 1096506 |
| 7.50%, 04/26/29<sup>(a)</sup> | &nbsp;&nbsp; 2730 | 2851123 |
|  |  | 42320599 |
| **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** |
| Pitney Bowes Inc. |  |  |
| 6.88%, 03/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 2861 | 2821661 |
| 7.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2650 | 2591589 |
| Xerox Holdings Corp. |  |  |
| 5.00%, 08/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 3241 | 3181204 |
| 5.50%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5660 | 4651105 |
|  |  | 13245559 |
| **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** |
| Steelcase Inc., 5.13%, 01/18/29 | &nbsp;&nbsp; 3610 | 3473660 |
| **Oil & Gas — 5.1%** | **Oil & Gas — 5.1%** | **Oil & Gas — 5.1%** |
| Aethon United BR LP/Aethon United Finance <br> Corp., 7.50%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7290 | 7338989 |
| Antero Resources Corp., 7.63%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3200 | 3280000 |
| Ascent Resources Utica Holdings LLC/ARU <br> Finance Corp.<br>|  |  |
| 5.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 2110 | 2034082 |
| 8.25%, 12/31/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4665 | 4753350 |
| Berry Petroleum Co. LLC, 7.00%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3204 | 3123435 |
| California Resources Corp., 8.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6795 | 6862950 |
| Calumet Specialty Products Partners LP/Calumet <br> Finance Corp., 11.00%, 04/15/25<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3477 | 3496471 |
| Chord Energy Corp., 6.38%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3241 | 3247903 |
| CITGO Petroleum Corp. |  |  |
| 6.38%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5832 | 5840907 |
| 7.00%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 9220 | 9229278 |
| 8.38%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9485 | 9840782 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Civitas Resources Inc. |  |  |
| 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; $3348 | $3287779 |
| 8.38%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 10780 | 11143825 |
| CNX Resources Corp., 6.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3975 | 3930088 |
| Comstock Resources Inc., 6.75%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 12665 | 12131034 |
| Crescent Energy Finance LLC, 9.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8340 | 8720304 |
| CVR Energy Inc. |  |  |
| 5.75%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3350 | 3052688 |
| 8.50%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4700 | 4552726 |
| Encino Acquisition Partners Holdings LLC, 8.50%, <br> 05/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5505 | 5533901 |
| Energean PLC, 6.50%, 04/30/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 2650 | 2636773 |
| Energian Israel Finance Ltd. |  |  |
| 4.88%, 03/30/26<sup>(a)</sup> | &nbsp;&nbsp; 5195 | 5043981 |
| 5.38%, 03/30/28<sup>(a)</sup> | &nbsp;&nbsp; 4980 | 4494450 |
| Expand Energy Corp. |  |  |
| 5.70%, 01/23/25 | &nbsp;&nbsp; 3049 | 3044579 |
| 6.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2715 | 2744485 |
| Gulfport Energy Operating Corp., 6.75%, <br> 09/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2500 | 2513125 |
| Harbour Energy PLC, 5.50%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1706 | 1697398 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| 5.75%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4695 | 4496971 |
| 6.25%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4785 | 4688104 |
| Ithaca Energy North Sea PLC, 8.13%, <br> 10/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5385 | 5402394 |
| Kraken Oil & Gas Partners LLC, 7.63%, <br> 08/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3845 | 3795015 |
| Leviathan Bond Ltd. |  |  |
| 6.13%, 06/30/25<sup>(a)</sup> | &nbsp;&nbsp; 5121 | 5058938 |
| 6.50%, 06/30/27<sup>(a)</sup> | &nbsp;&nbsp; 4781 | 4530353 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil & <br> Gas Finance Corp., 6.00%, 08/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2928 | 2921151 |
| Matador Resources Co., 6.88%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3995 | 4065604 |
| MEG Energy Corp., 5.88%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4570 | 4477250 |
| Nabors Industries Inc., 7.38%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5467 | 5467000 |
| Nabors Industries Ltd., 7.50%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3135 | 2985640 |
| Northern Oil & Gas Inc., 8.13%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5610 | 5662616 |
| Parkland Corp. |  |  |
| 4.50%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 185908 |
| 5.88%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4147 | 4103830 |
| PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| 6.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6485 | 6298556 |
| 7.25%, 06/15/25 | &nbsp;&nbsp; — |  |
| Permian Resources Operating LLC |  |  |
| 5.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5155 | 5076650 |
| 8.00%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3951 | 4054777 |
| Precision Drilling Corp., 6.88%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2995 | 2980025 |
| Puma International Financing SA, 7.75%, <br> 04/25/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3530 | 3595140 |
| Range Resources Corp. |  |  |
| 4.88%, 05/15/25 | &nbsp;&nbsp; 5642 | 5625920 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 4650 | 4792755 |
| Saturn Oil & Gas Inc., 9.63%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3446 | 3402925 |
| Sitio Royalties Operating Partnership LP/Sitio <br> Finance Corp., 7.88%, 11/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4870 | 5054166 |
| SM Energy Co. |  |  |
| 6.50%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 3050 | 3038959 |
| 6.63%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3185 | 3182664 |
| 6.75%, 09/15/26 | &nbsp;&nbsp; 3496 | 3508865 |
| 6.75%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5675 | 5633572 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Strathcona Resources Ltd., 6.88%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; $3895 | $3865788 |
| Sunoco LP, 7.00%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2850 | 2937459 |
| Sunoco LP/Sunoco Finance Corp. |  |  |
| 4.50%, 05/15/29 | &nbsp;&nbsp; 6300 | 5984640 |
| 5.88%, 03/15/28 | &nbsp;&nbsp; 3310 | 3294675 |
| 6.00%, 04/15/27 | &nbsp;&nbsp; 5020 | 5030090 |
| 7.00%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4280 | 4390473 |
| Talos Production Inc., 9.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4884 | 5025910 |
| Teine Energy Ltd., 6.88%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2560 | 2504384 |
| TGNR Intermediate Holdings LLC, 5.50%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5140 | 4848576 |
| Transocean Inc. |  |  |
| 8.00%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4092 | 4081770 |
| 8.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6985 | 7028656 |
| Transocean Titan Financing Ltd., 8.38%, <br> 02/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4095 | 4218326 |
| Viper Energy Inc., 5.38%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3513 | 3464828 |
| Wildfire Intermediate Holdings LLC, 7.50%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 4455 | 4312752 |
|  |  | 308649358 |
| **Oil & Gas Services — 0.8%** | **Oil & Gas Services — 0.8%** | **Oil & Gas Services — 0.8%** |
| Archrock Partners LP/Archrock Partners Finance <br> Corp., 6.25%, 04/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6505 | 6516839 |
| Bristow Group Inc., 6.88%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3085 | 3062140 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4840 | 5026567 |
| KCA Deutag UK Finance PLC, 9.88%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4181 | 4189362 |
| Kodiak Gas Services LLC, 7.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6105 | 6272460 |
| Solaris Midstream Holdings LLC, 7.63%, <br> 04/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3378 | 3398895 |
| USA Compression Partners LP/USA Compression <br> Finance Corp.<br>|  |  |
| 6.88%, 09/01/27 | &nbsp;&nbsp; 5951 | 5968437 |
| 7.13%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7700 | 7833466 |
| Viridien, 8.75%, 04/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3991 | 3851547 |
|  |  | 46119713 |
| **Packaging & Containers — 2.9%** | **Packaging & Containers — 2.9%** | **Packaging & Containers — 2.9%** |
| Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC<br>|  |  |
| 3.25%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4860 | 4377013 |
| 4.00%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8250 | 7241850 |
| 6.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4515 | 4505545 |
| Ardagh Packaging Finance PLC/Ardagh Holdings <br> USA Inc.<br>|  |  |
| 4.13%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 9929 | 8638230 |
| 5.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4464 | 2685468 |
| Ball Corp. |  |  |
| 6.00%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5575 | 5659740 |
| 6.88%, 03/15/28 | &nbsp;&nbsp; 5635 | 5789157 |
| Berry Global Inc., 5.63%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3635 | 3631468 |
| Cascades Inc./Cascades USA Inc., 5.38%, <br> 01/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3590 | 3525176 |
| Clydesdale Acquisition Holdings Inc., 6.63%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 4100 | 4112874 |
| Crown Americas LLC/Crown Americas Capital <br> Corp. V, 4.25%, 09/30/26<sup>(b)</sup><br>| &nbsp;&nbsp; 3158 | 3091898 |
| Crown Americas LLC/Crown Americas Capital <br> Corp. VI, 4.75%, 02/01/26<br>| &nbsp;&nbsp; 6815 | 6769612 |
| Graham Packaging Co. Inc., 7.13%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4025 | 3914313 |
| Graphic Packaging International LLC |  |  |
| 3.50%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3715 | 3465315 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| 3.50%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $2925 | $2661458 |
| Intelligent Packaging Ltd. Finco Inc./Intelligent <br> Packaging Ltd. Co-Issuer LLC, 6.00%, <br> 09/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5960 | 5876966 |
| Iris Holdings Inc., 10.00%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3115 | 2736326 |
| LABL Inc. |  |  |
| 5.88%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4000 | 3701417 |
| 10.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5201 | 5148990 |
| Mauser Packaging Solutions Holding Co. |  |  |
| 7.88%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 20675 | 21243562 |
| 9.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10073 | 10305938 |
| Owens-Brockway Glass Container Inc., 6.63%, <br> 05/13/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4749 | 4724875 |
| Pactiv Evergreen Group Issuer Inc./Pactiv <br> Evergreen Group Issuer LLC, 4.00%, <br> 10/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7820 | 7474825 |
| Pactiv Evergreen Group Issuer LLC/Pactiv <br> Evergreen Group Issuer Inc., 4.38%, <br> 10/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4083 | 3838020 |
| Sealed Air Corp. |  |  |
| 4.00%, 12/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3519 | 3368598 |
| 5.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3300 | 3187302 |
| Sealed Air Corp./Sealed Air Corp. U.S., 6.13%, <br> 02/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6207 | 6274967 |
| Silgan Holdings Inc., 4.13%, 02/01/28 | &nbsp;&nbsp; 4675 | 4458781 |
| Trident TPI Holdings Inc., 12.75%, 12/31/28<sup>(a)</sup> | &nbsp;&nbsp; 5425 | 5953504 |
| TriMas Corp., 4.13%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3025 | 2817031 |
| Trivium Packaging Finance BV |  |  |
| 5.50%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8320 | 8247200 |
| 8.50%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5704 | 5693635 |
|  |  | 175121054 |
| **Pharmaceuticals — 3.1%** | **Pharmaceuticals — 3.1%** | **Pharmaceuticals — 3.1%** |
| AdaptHealth LLC |  |  |
| 4.63%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3050 | 2769645 |
| 6.13%, 08/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 2560 | 2518187 |
| Bausch Health Americas Inc. |  |  |
| 8.50%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 4843 | 3886508 |
| 9.25%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 6634 | 6418395 |
| Bausch Health Companies Inc. |  |  |
| 4.88%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 13575 | 10486687 |
| 5.00%, 01/30/28<sup>(a)</sup> | &nbsp;&nbsp; 3250 | 2080000 |
| 5.50%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 13610 | 13354812 |
| 6.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 8935 | 8041500 |
| 9.00%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 8580 | 8413033 |
| 11.00%, 09/30/28<sup>(a)</sup> | &nbsp;&nbsp; 15170 | 13961615 |
| Cheplapharm Arzneimittel GmbH, 5.50%, <br> 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3859 | 3725247 |
| Elanco Animal Health Inc., 6.65%, 08/28/28<sup>(b)</sup> | &nbsp;&nbsp; 5935 | 6081397 |
| Grifols SA, 4.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5390 | 4952062 |
| HLF Financing SARL LLC/Herbalife <br> International Inc.<br>|  |  |
| 4.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4605 | 3154425 |
| 12.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6095 | 6133094 |
| Jazz Securities DAC, 4.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11672 | 11034359 |
| Mallinckrodt International Finance SA/Mallinckrodt <br> CB LLC, 14.75%, 11/14/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1500 | 1633313 |
| Option Care Health Inc., 4.38%, 10/31/29<sup>(a)</sup> | &nbsp;&nbsp; 1246 | 1145635 |
| Organon & Co./Organon Foreign Debt Co-Issuer <br> BV, 4.13%, 04/30/28<sup>(a)</sup><br>| &nbsp;&nbsp; 16132 | 15295677 |
| Owens & Minor Inc., 4.50%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3550 | 3186236 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| P&L Development LLC/PLD Finance Corp. |  |  |
| 7.75%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; $1031 | $1034673 |
| 12.00%, 12/02/24, 9.00% Cash and 3.50% PIK <br> or 12.00% Cash<sup>(a)</sup><br>| &nbsp;&nbsp; 3391 | 3412425 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| 3.15%, 10/01/26 | &nbsp;&nbsp; 26927 | 25647967 |
| 4.75%, 05/09/27 | &nbsp;&nbsp; 8101 | 7873463 |
| 5.13%, 05/09/29<sup>(b)</sup> | &nbsp;&nbsp; 8000 | 7731000 |
| 6.75%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 10125 | 10340232 |
| 7.13%, 01/31/25<sup>(b)</sup> | &nbsp;&nbsp; 3550 | 3546105 |
| 7.88%, 09/15/29 | &nbsp;&nbsp; 200 | 215588 |
|  |  | 188073280 |
| **Pipelines — 4.7%** | **Pipelines — 4.7%** | **Pipelines — 4.7%** |
| Antero Midstream Partners LP/Antero Midstream <br> Finance Corp.<br>|  |  |
| 5.38%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1160 | 1132728 |
| 5.75%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5387 | 5369492 |
| 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5350 | 5323250 |
| Blue Racer Midstream LLC/Blue Racer Finance <br> Corp., 7.00%, 07/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3760 | 3860121 |
| Buckeye Partners LP |  |  |
| 3.95%, 12/01/26 | &nbsp;&nbsp; 4906 | 4717021 |
| 4.13%, 03/01/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 557 | 552442 |
| 4.13%, 12/01/27 | &nbsp;&nbsp; 3327 | 3184238 |
| 4.50%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4005 | 3810758 |
| 6.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4535 | 4614803 |
| Delek Logistics Partners LP/Delek Logistics <br> Finance Corp.<br>|  |  |
| 7.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3100 | 3069248 |
| 8.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7950 | 8143901 |
| DT Midstream Inc., 4.13%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8375 | 7871034 |
| EQM Midstream Partners LP |  |  |
| 4.13%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 4196 | 4101917 |
| 4.50%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6420 | 6178801 |
| 5.50%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6779 | 6749172 |
| 6.00%, 07/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3085 | 3086573 |
| 6.38%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4680 | 4743180 |
| 6.50%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 7166 | 7327468 |
| 7.50%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3796 | 3878563 |
| FTAI Infra Escrow Holdings LLC, 10.50%, <br> 06/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4551 | 4861859 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| 7.75%, 02/01/28 | &nbsp;&nbsp; 5575 | 5630750 |
| 8.00%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 7929 | 8066370 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 4845 | 4939478 |
| Global Partners LP/GLP Finance Corp. |  |  |
| 6.88%, 01/15/29 | &nbsp;&nbsp; 2600 | 2592298 |
| 7.00%, 08/01/27<sup>(b)</sup> | &nbsp;&nbsp; 3511 | 3520478 |
| Harvest Midstream I LP, 7.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6090 | 6150900 |
| Hess Midstream Operations LP |  |  |
| 5.13%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4150 | 4056884 |
| 5.63%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6311 | 6297503 |
| 6.50%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2295 | 2326212 |
| Howard Midstream Energy Partners LLC, 8.88%, <br> 07/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4485 | 4732572 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9300 | 8596106 |
| Kinetik Holdings LP, 6.63%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6390 | 6524423 |
| Martin Midstream Partners LP/Martin Midstream <br> Finance Corp., 11.50%, 02/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3075 | 3343009 |
| New Fortress Energy Inc. |  |  |
| 6.50%, 09/30/26<sup>(a)</sup> | &nbsp;&nbsp; 12684 | 11746018 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 6.75%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; $7252 | $7234831 |
| 8.75%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6290 | 5224238 |
| NGL Energy Operating LLC/NGL Energy Finance <br> Corp., 8.13%, 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7245 | 7291658 |
| NuStar Logistics LP |  |  |
| 5.63%, 04/28/27 | &nbsp;&nbsp; 4570 | 4535031 |
| 5.75%, 10/01/25 | &nbsp;&nbsp; 4800 | 4792560 |
| 6.00%, 06/01/26 | &nbsp;&nbsp; 4109 | 4108877 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2975 | 3015906 |
| Rockies Express Pipeline LLC |  |  |
| 3.60%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3222 | 3178272 |
| 4.95%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4250 | 3978354 |
| Summit Midstream Holdings LLC, 8.63%, <br> 10/31/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3875 | 4002875 |
| Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp.<br>|  |  |
| 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6080 | 5834976 |
| 6.00%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3746 | 3714159 |
| 7.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6380 | 6395219 |
| Venture Global Calcasieu Pass LLC, 3.88%, <br> 08/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5175 | 4767469 |
| Venture Global LNG Inc. |  |  |
| 8.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 17665 | 18321550 |
| 9.50%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 23170 | 25636447 |
|  |  | 283131992 |
| **Real Estate — 0.7%** | **Real Estate — 0.7%** | **Real Estate — 0.7%** |
| Anywhere Real Estate Group LLC/Realogy <br> Co-Issuer Corp., 5.75%, 01/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4460 | 3635569 |
| CoreLogic Inc., 4.50%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5710 | 5359178 |
| Cushman & Wakefield U.S. Borrower LLC, 6.75%, <br> 05/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4955 | 4979775 |
| Five Point Operating Co. LP/Five Point Capital <br> Corp., 10.50%, 01/15/28<sup>(a)(g)</sup><br>| &nbsp;&nbsp; 4358 | 4463023 |
| Howard Hughes Corp. (The) |  |  |
| 4.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5280 | 4862607 |
| 5.38%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6160 | 5984686 |
| Hunt Companies Inc., 5.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5100 | 4837299 |
| Kennedy-Wilson Inc., 4.75%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 4570 | 4204400 |
| Newmark Group Inc., 7.50%, 01/12/29<sup>(b)</sup> | &nbsp;&nbsp; 3625 | 3831752 |
|  |  | 42158289 |
| **Real Estate Investment Trusts — 4.5%** | **Real Estate Investment Trusts — 4.5%** | **Real Estate Investment Trusts — 4.5%** |
| Apollo Commercial Real Estate Finance Inc., <br> 4.63%, 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3850 | 3328015 |
| Blackstone Mortgage Trust Inc., 3.75%, <br> 01/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3140 | 2939177 |
| Brandywine Operating Partnership LP |  |  |
| 3.95%, 11/15/27 | &nbsp;&nbsp; 3715 | 3492100 |
| 8.30%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 2875 | 2999761 |
| 8.88%, 04/12/29<sup>(b)</sup> | &nbsp;&nbsp; 3107 | 3353691 |
| Brookfield Property REIT Inc./BPR <br> Cumulus LLC/BPR Nimbus LLC/GGSI <br> Sellco LLC<br>|  |  |
| 4.50%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5649 | 5444224 |
| 5.75%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 7240 | 7162387 |
| CTR Partnership LP/CareTrust Capital Corp., <br> 3.88%, 06/30/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3155 | 2984882 |
| Diversified Healthcare Trust |  |  |
| 4.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 3955 | 3505400 |
| 9.75%, 06/15/25 | &nbsp;&nbsp; 3782 | 3779636 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Global Net Lease Inc./Global Net Lease Operating <br> Partnership LP, 3.75%, 12/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; $4095 | $3759619 |
| Hudson Pacific Properties LP |  |  |
| 3.95%, 11/01/27 | &nbsp;&nbsp; 3243 | 2893161 |
| 4.65%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 3775 | 3012865 |
| 5.95%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 2815 | 2498313 |
| Iron Mountain Inc. |  |  |
| 4.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7865 | 7725414 |
| 4.88%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5275 | 5068920 |
| 5.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3710 | 3613225 |
| 5.25%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6680 | 6558758 |
| 7.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7905 | 8126373 |
| Ladder Capital Finance Holdings LLLP/Ladder <br> Capital Finance Corp.<br>|  |  |
| 4.25%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4660 | 4514375 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4970 | 4740137 |
| MPT Operating Partnership LP/MPT Finance Corp. |  |  |
| 4.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 6175 | 4785625 |
| 5.00%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 11019 | 9720852 |
| 5.25%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 4390 | 4169951 |
| Necessity Retail REIT Inc./American Finance <br> Operating Partner LP (The), 4.50%, <br> 09/30/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3965 | 3654382 |
| Office Properties Income Trust |  |  |
| 4.50%, 02/01/25<sup>(b)</sup> | &nbsp;&nbsp; 3750 | 3234375 |
| 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 4481 | 3820052 |
| Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer<br>|  |  |
| 4.88%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5815 | 5531243 |
| 5.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5480 | 5413099 |
| Pebblebrook Hotel LP/PEB Finance Corp., 6.38%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 1559 | 1556927 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| 4.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4700 | 4492537 |
| 4.75%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5635 | 5516258 |
| 7.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3470 | 3591016 |
| Rithm Capital Corp., 8.00%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5950 | 5935125 |
| RLJ Lodging Trust LP |  |  |
| 3.75%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; 4146 | 4004953 |
| 4.00%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3850 | 3468657 |
| SBA Communications Corp. |  |  |
| 3.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 11350 | 10328500 |
| 3.88%, 02/15/27 | &nbsp;&nbsp; 11719 | 11344109 |
| Service Properties Trust |  |  |
| 3.95%, 01/15/28 | &nbsp;&nbsp; 3105 | 2662537 |
| 4.75%, 10/01/26 | &nbsp;&nbsp; 3725 | 3507735 |
| 4.95%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3386 | 3151325 |
| 4.95%, 10/01/29 | &nbsp;&nbsp; 2000 | 1595000 |
| 5.25%, 02/15/26 | &nbsp;&nbsp; 3059 | 2967230 |
| 5.50%, 12/15/27 | &nbsp;&nbsp; 3491 | 3289977 |
| 8.38%, 06/15/29 | &nbsp;&nbsp; 5460 | 5322463 |
| Starwood Property Trust Inc. |  |  |
| 3.63%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3485 | 3340840 |
| 3.75%, 12/31/24<sup>(a)(b)</sup> | &nbsp;&nbsp; 3109 | 3092956 |
| 4.38%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4086 | 3936763 |
| 4.75%, 03/15/25<sup>(b)</sup> | &nbsp;&nbsp; 4286 | 4269927 |
| 7.25%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4540 | 4665758 |
| Uniti Group LP/Uniti Group Finance 2019 Inc./CSL <br> Capital LLC<br>|  |  |
| 4.75%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4320 | 3958200 |
| 6.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8411 | 7238507 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 10.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; $23030 | $24526902 |
| Vornado Realty LP |  |  |
| 2.15%, 06/01/26 | &nbsp;&nbsp; 3160 | 2986710 |
| 3.50%, 01/15/25 | &nbsp;&nbsp; 2950 | 2935256 |
| XHR LP |  |  |
| 4.88%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3925 | 3684594 |
| 6.38%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 4080 | 4081775 |
|  |  | 273282549 |
| **Retail — 4.7%** | **Retail — 4.7%** | **Retail — 4.7%** |
| 1011778 BC ULC/New Red Finance Inc. |  |  |
| 3.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6650 | 6144933 |
| 3.88%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12555 | 11958449 |
| 4.38%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5970 | 5735686 |
| 5.63%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 250 | 249375 |
| Academy Ltd., 6.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3070 | 3057117 |
| Advance Auto Parts Inc., 1.75%, 10/01/27<sup>(b)</sup> | &nbsp;&nbsp; 2960 | 2627111 |
| Asbury Automotive Group Inc., 4.50%, 03/01/28 | &nbsp;&nbsp; 3406 | 3282158 |
| Bath & Body Works Inc. |  |  |
| 5.25%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 4300 | 4241520 |
| 7.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3900 | 4021875 |
| BCPE Ulysses Intermediate Inc., 7.75%, 04/01/27, <br> (7.75% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 3190 | 3107630 |
| Beacon Roofing Supply Inc., 4.13%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2775 | 2575358 |
| Carvana Co., 12.00%, 12/01/28, <br> (12.00% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 7640 | 8078194 |
| CEC Entertainment LLC, 6.75%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 4881 | 4857510 |
| Dave & Buster's Inc., 7.63%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3678 | 3677632 |
| eG Global Finance PLC, 12.00%, 11/30/28<sup>(a)</sup> | &nbsp;&nbsp; 8525 | 9462040 |
| Evergreen Acqco 1 LP/TVI Inc., 9.75%, <br> 04/26/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3352 | 3516248 |
| Ferrellgas LP/Ferrellgas Finance Corp. |  |  |
| 5.38%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5536 | 5493151 |
| 5.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 6550 | 6099688 |
| Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co. Inc., 4.63%, 01/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7880 | 7357950 |
| FirstCash Inc., 4.63%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4060 | 3842790 |
| Foot Locker Inc., 4.00%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2900 | 2494704 |
| Foundation Building Materials Inc., 6.00%, <br> 03/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3255 | 2864302 |
| Gap Inc. (The), 3.63%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4825 | 4330438 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., <br> 8.38%, 01/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 4145 | 3880710 |
| Group 1 Automotive Inc., 4.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5925 | 5543904 |
| Guitar Center Inc., 8.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4879 | 4162616 |
| GYP Holdings III Corp., 4.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2750 | 2595313 |
| Ken Garff Automotive LLC, 4.88%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3050 | 2956462 |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell <br> of America LLC, 4.75%, 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 5925 | 5853619 |
| Kohl's Corp., 4.25%, 07/17/25 | &nbsp;&nbsp; 2940 | 2901104 |
| LBM Acquisition LLC, 6.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6555 | 6041481 |
| LCM Investments Holdings II LLC, 4.88%, <br> 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7900 | 7465500 |
| Lithia Motors Inc. |  |  |
| 3.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6330 | 5817270 |
| 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3325 | 3225759 |
| Macy's Retail Holdings LLC, 5.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 1453 | 1418835 |
| Michaels Companies Inc. (The), 5.25%, <br> 05/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6545 | 4702702 |
| Murphy Oil USA Inc., 4.75%, 09/15/29 | &nbsp;&nbsp; 3050 | 2915825 |
| NMG Holding Co. Inc./Neiman Marcus Group LLC, <br> 8.50%, 04/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8435 | 8565742 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Nordstrom Inc., 4.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; $2836 | $2727287 |
| Papa John's International Inc., 3.88%, <br> 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3025 | 2758423 |
| Park River Holdings Inc., 5.63%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3130 | 2734838 |
| Patrick Industries Inc., 4.75%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2710 | 2562034 |
| Penske Automotive Group Inc. |  |  |
| 3.50%, 09/01/25<sup>(b)</sup> | &nbsp;&nbsp; 4419 | 4352715 |
| 3.75%, 06/15/29 | &nbsp;&nbsp; 3950 | 3614096 |
| PetSmart Inc./PetSmart Finance Corp. |  |  |
| 4.75%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9205 | 8752311 |
| 7.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9105 | 8830816 |
| QVC Inc. |  |  |
| 4.45%, 02/15/25<sup>(b)</sup> | &nbsp;&nbsp; 4882 | 4848680 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5324 | 4572517 |
| Raising Cane's Restaurants LLC, 9.38%, <br> 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3225 | 3470906 |
| Sizzling Platter LLC/Sizzling Platter Finance Corp., <br> 8.50%, 11/28/25<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3226 | 3233420 |
| Specialty Building Products Holdings LLC/SBP <br> Finance Corp., 7.75%, 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3431 | 3498694 |
| Staples Inc., 10.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 14750 | 14270625 |
| Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.88%, 03/01/27<br>| &nbsp;&nbsp; 2541 | 2525330 |
| Superior Plus LP/Superior General Partner Inc., <br> 4.50%, 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 4750 | 4382493 |
| Victoria's Secret & Co., 4.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4550 | 4011109 |
| Victra Holdings LLC/Victra Finance Corp., 8.75%, <br> 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1350 | 1409063 |
| Vivo Energy Investments BV, 5.13%, 09/24/27<sup>(a)</sup> | &nbsp;&nbsp; 2675 | 2600073 |
| Walgreens Boots Alliance Inc. |  |  |
| 3.45%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 10935 | 10508535 |
| 3.80%, 11/18/24 | &nbsp;&nbsp; 300 | 299480 |
| 8.13%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5715 | 5663565 |
| White Cap Buyer LLC, 6.88%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5406 | 5405189 |
|  |  | 284154900 |
| **Semiconductors — 0.5%** | **Semiconductors — 0.5%** | **Semiconductors — 0.5%** |
| Amkor Technology Inc., 6.63%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4440 | 4448649 |
| ams-OSRAM AG, 12.25%, 03/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3050 | 3168188 |
| Entegris Inc. |  |  |
| 3.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3250 | 2974693 |
| 4.38%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3405 | 3249328 |
| 4.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11625 | 11254221 |
| ON Semiconductor Corp., 3.88%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5390 | 5056089 |
| Synaptics Inc., 4.00%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2975 | 2725457 |
|  |  | 32876625 |
| **Software — 3.2%** | **Software — 3.2%** | **Software — 3.2%** |
| ACI Worldwide Inc., 5.75%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2750 | 2748912 |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5341 | 5249673 |
| CDK Global II LLC, 4.88%, 06/01/27 | &nbsp;&nbsp; 15 | 13604 |
| Central Parent Inc./CDK Global Inc., 7.25%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5975 | 5993403 |
| Central Parent LLC/CDK Global II LLC/CDK <br> Financing Co. Inc., 8.00%, 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6075 | 6209067 |
| Clarivate Science Holdings Corp. |  |  |
| 3.88%, 07/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7539 | 7128370 |
| 4.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7350 | 6944133 |
| Cloud Software Group Inc. |  |  |
| 6.50%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 31396 | 30631507 |
| 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 27950 | 27950000 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Consensus Cloud Solutions Inc., 6.50%, <br> 10/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $3315 | $3275773 |
| Dye & Durham Ltd., 8.63%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4245 | 4499990 |
| Elastic NV, 4.13%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4350 | 4018312 |
| Fair Isaac Corp. |  |  |
| 4.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6801 | 6460270 |
| 5.25%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3063 | 3067594 |
| Helios Software Holdings Inc./ION Corporate <br> Solutions Finance SARL<br>|  |  |
| 4.63%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 2610 | 2391412 |
| 8.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4510 | 4577650 |
| Open Text Corp., 3.88%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7205 | 6772700 |
| Playtika Holding Corp., 4.25%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4500 | 4041540 |
| PTC Inc. |  |  |
| 3.63%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 4097 | 4064798 |
| 4.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3980 | 3792781 |
| Rocket Software Inc. |  |  |
| 6.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4480 | 4151023 |
| 9.00%, 11/28/28<sup>(a)</sup> | &nbsp;&nbsp; 6465 | 6738744 |
| SS&C Technologies Inc., 5.50%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 15256 | 15222627 |
| Twilio Inc., 3.63%, 03/15/29 | &nbsp;&nbsp; 3850 | 3543203 |
| Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, <br> 09/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 14324 | 13607800 |
| West Technology Group LLC, 8.50%, 04/10/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3439 | 2878317 |
| ZoomInfo Technologies LLC/ZoomInfo Finance <br> Corp., 3.88%, 02/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5125 | 4668157 |
|  |  | 190641360 |
| **Telecommunications — 4.3%** | **Telecommunications — 4.3%** | **Telecommunications — 4.3%** |
| Altice Financing SA |  |  |
| 5.00%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9438 | 7974048 |
| 5.75%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15175 | 12394333 |
| 9.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3015 | 2938117 |
| Altice France SA |  |  |
| 5.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3575 | 2665609 |
| 5.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 19000 | 14202500 |
| 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8760 | 6785146 |
| 5.50%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4600 | 3440340 |
| 8.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 13729 | 11321620 |
| C&W Senior Finance Ltd., 6.88%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5369 | 5315310 |
| CommScope LLC |  |  |
| 4.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9000 | 7526250 |
| 6.00%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 12095 | 11829918 |
| 7.13%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5275 | 4630461 |
| 8.25%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7400 | 6983047 |
| CommScope Technologies LLC |  |  |
| 5.00%, 03/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5875 | 5199375 |
| 6.00%, 06/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 10667 | 10453660 |
| Connect Finco SARL/Connect U.S. Finco LLC, <br> 9.00%, 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13830 | 13130721 |
| Consolidated Communications Inc. |  |  |
| 5.00%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3000 | 2775600 |
| 6.50%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5648 | 5365449 |
| Frontier Communications Holdings LLC |  |  |
| 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11680 | 11492886 |
| 5.88%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9210 | 9197751 |
| 6.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7750 | 7711250 |
| Hughes Satellite Systems Corp. |  |  |
| 5.25%, 08/01/26 | &nbsp;&nbsp; 5895 | 5380797 |
| 6.63%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 5300 | 4584500 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Iliad Holding SASU |  |  |
| 6.50%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; $5844 | $5887830 |
| 7.00%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6785 | 6878294 |
| Level 3 Financing Inc. |  |  |
| 4.25%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3750 | 3117187 |
| 4.63%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 605 | 546012 |
| 4.88%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4750 | 4061250 |
| 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 2352 | 2319072 |
| 10.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5535 | 6160621 |
| 10.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2414 | 2633342 |
| 11.00%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3305 | 3721753 |
| Viasat Inc., 6.50%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3005 | 2270458 |
| ViaSat Inc. |  |  |
| 5.63%, 09/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 5971 | 5899535 |
| 5.63%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4611 | 4306567 |
| Viavi Solutions Inc., 3.75%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2410 | 2183989 |
| Windstream Services LLC/Windstream Escrow <br> Finance Corp., 7.75%, 08/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11390 | 11454544 |
| Zayo Group Holdings Inc. |  |  |
| 4.00%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 11643 | 10362270 |
| 6.13%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8311 | 7127268 |
| Zegona Finance PLC, 8.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5465 | 5781746 |
|  |  | 258010426 |
| **Transportation — 0.2%** | **Transportation — 0.2%** | **Transportation — 0.2%** |
| Cargo Aircraft Management Inc., 4.75%, <br> 02/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5544 | 5294077 |
| First Student Bidco Inc./First Transit Parent Inc., <br> 4.00%, 07/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3256 | 3015056 |
| RXO Inc., 7.50%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 2616 | 2719358 |
|  |  | 11028491 |
| **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** |
| Fortress Transportation and Infrastructure <br> Investors LLC, 5.50%, 05/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7835 | 7678300 |
| NAC Aviation 29 DAC, 4.75%, 06/30/26<sup>(b)</sup> | &nbsp;&nbsp; 5413 | 5185351 |
|  |  | 12863651 |
| **Total Corporate Bonds & Notes — 98.3%** <br>**(Cost: $5,846,060,442)** | **Total Corporate Bonds & Notes — 98.3%** <br>**(Cost: $5,846,060,442)** | 5898310462 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| Quincy Health LLC<sup>(f)</sup> | &nbsp;&nbsp; 25958 |  |
| **Office REITs — 0.0%** | **Office REITs — 0.0%** | **Office REITs — 0.0%** |
| Office Properties Income Trust, NVS | &nbsp;&nbsp; 16557 | 26326 |
| **Total Common Stocks — 0.0%** <br>**(Cost $2,673,769)** | **Total Common Stocks — 0.0%** <br>**(Cost $2,673,769)** | 26326 |
| **Total Long-Term Investments — 98.3%** <br>**(Cost: $5,848,734,211)** | **Total Long-Term Investments — 98.3%** <br>**(Cost: $5,848,734,211)** | 5898336788 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 17.1%** | **Money Market Funds — 17.1%** | **Money Market Funds — 17.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(h)(i)(j)</sup><br>| &nbsp;&nbsp; 997066221 | 997764167 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(h)(i)</sup><br>| &nbsp;&nbsp; 31390000 | $31390000 |
| **Total Short-Term Securities — 17.1%** <br>**(Cost: $1,028,480,050)** | **Total Short-Term Securities — 17.1%** <br>**(Cost: $1,028,480,050)** | 1029154167 |
| **Total Investments — 115.4%** <br>**(Cost: $6,877,214,261)** | **Total Investments — 115.4%** <br>**(Cost: $6,877,214,261)** | 6927490955 |
| **Liabilities in Excess of Other Assets — (15.4)%** | **Liabilities in Excess of Other Assets — (15.4)%** | (923985047)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $6003505908 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(d)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(e)</sup> Non-income producing security.

<sup>(f)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(g)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(h)</sup> Affiliate of the Fund.

<sup>(i)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(j)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| $636695986<br> $360799924 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(4808)<br>| $273065 | $997764167 | 997066221 | $5054401 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 31090000<br> 300000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 31390000 | 31390000 | 1760812 | &nbsp;&nbsp; — |
|  |  |  | $(4808)<br>| $273065 | $1029154167 |  | $6815213 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 0-5 Year High Yield Corporate Bond ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5898310462 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5898310462 |
| Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 26326 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26326 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1029154167 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1029154167 |
|  | &nbsp;&nbsp; $1029154167 | &nbsp;&nbsp; $5898336788 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6927490955 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 1.0%** | **Advertising — 1.0%** | **Advertising — 1.0%** |
| Advantage Sales & Marketing Inc., 6.50%, <br> 11/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $10311 | $9651101 |
| Clear Channel Outdoor Holdings Inc. |  |  |
| 5.13%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 19248 | 18660191 |
| 7.50%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16079 | 13741229 |
| 7.75%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 15334 | 13647436 |
| 7.88%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13105 | 13361766 |
| 9.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11075 | 11632349 |
| CMG Media Corp., 8.88%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7573 | 5490425 |
| Lamar Media Corp. |  |  |
| 3.63%, 01/15/31 | &nbsp;&nbsp; 9312 | 8310960 |
| 3.75%, 02/15/28 | &nbsp;&nbsp; 10372 | 9859268 |
| 4.00%, 02/15/30 | &nbsp;&nbsp; 9144 | 8453436 |
| 4.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5132 | 4989854 |
| Neptune Bidco U.S. Inc., 9.29%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 40532 | 37878318 |
| Outfront Media Capital LLC/Outfront Media <br> Capital Corp.<br>|  |  |
| 4.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8447 | 7921255 |
| 4.63%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7725 | 7185930 |
| 5.00%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8735 | 8602793 |
| 7.38%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7575 | 7999162 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 18636 | 17721332 |
| Summer BC Bidco B LLC, 5.50%, 10/31/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 7787 | 7674500 |
|  |  | 212781305 |
| **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** |
| AAR Escrow Issuer LLC, 6.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10505 | 10738404 |
| Bombardier Inc. |  |  |
| 6.00%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11734 | 11720836 |
| 7.00%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12232 | 12523126 |
| 7.25%, 07/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12314 | 12722308 |
| 7.45%, 05/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 8035 | 8733338 |
| 7.50%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13148 | 13690342 |
| 7.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9770 | 9789260 |
| 8.75%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12305 | 13332664 |
| Moog Inc., 4.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9769 | 9313117 |
| Spirit AeroSystems Inc. |  |  |
| 3.85%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 4253 | 4125344 |
| 4.60%, 06/15/28 | &nbsp;&nbsp; 10504 | 10021728 |
| 9.38%, 11/30/29<sup>(a)</sup> | &nbsp;&nbsp; 11955 | 12893611 |
| 9.75%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 20023 | 22226992 |
| TransDigm Inc. |  |  |
| 4.63%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 18528 | 17594682 |
| 4.88%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 11607 | 11085985 |
| 5.50%, 11/15/27 | &nbsp;&nbsp; 38359 | 38023435 |
| 6.00%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 23820 | 23611917 |
| 6.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 42335 | 42971698 |
| 6.63%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp; 34725 | 35312867 |
| 6.75%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 32660 | 33360916 |
| 6.88%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 22915 | 23489685 |
| 7.13%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 15875 | 16427020 |
| Triumph Group Inc., 9.00%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 16311 | 16993175 |
|  |  | 410702450 |
| **Agriculture — 0.1%** | **Agriculture — 0.1%** | **Agriculture — 0.1%** |
| Darling Ingredients Inc. |  |  |
| 5.25%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7206 | 7136229 |
| 6.00%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 17120 | 17002286 |
| Turning Point Brands Inc., 5.63%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2066 | 2057965 |
| Vector Group Ltd., 10.50%, 11/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3923 | 3922922 |
|  |  | 30119402 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Airlines — 1.2%** | **Airlines — 1.2%** | **Airlines — 1.2%** |
| Air Canada, 3.88%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; $20340 | $19676595 |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8567 | 8438568 |
| American Airlines Inc. |  |  |
| 7.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11872 | 12067271 |
| 8.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 15785 | 16588962 |
| American Airlines Inc./AAdvantage Loyalty <br> IP Ltd.<br>|  |  |
| 5.50%, 04/20/26<sup>(a)</sup> | &nbsp;&nbsp; 24334 | 24261283 |
| 5.75%, 04/20/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 46655 | 46199031 |
| JetBlue Airways Corp./JetBlue Loyalty LP, <br> 9.88%, 09/20/31<sup>(a)</sup><br>| &nbsp;&nbsp; 31219 | 32441817 |
| United Airlines Inc. |  |  |
| 4.38%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 26077 | 25626525 |
| 4.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 31660 | 30301916 |
| VistaJet Malta Finance PLC/Vista Management <br> Holding Inc.<br>|  |  |
| 6.38%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15567 | 13325274 |
| 7.88%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 7704 | 7499584 |
| 9.50%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7848 | 7709732 |
|  |  | 244136558 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| Crocs Inc. |  |  |
| 4.13%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6002 | 5257584 |
| 4.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6489 | 5951729 |
| Hanesbrands Inc. |  |  |
| 4.88%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 13914 | 13745417 |
| 9.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10458 | 11205297 |
| Kontoor Brands Inc., 4.13%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7204 | 6714419 |
| Levi Strauss & Co., 3.50%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9222 | 8145830 |
| S&S Holdings LLC, 8.38%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 9230 | 9253047 |
| Under Armour Inc., 3.25%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 8835 | 8497599 |
| VF Corp. |  |  |
| 2.80%, 04/23/27<sup>(b)</sup> | &nbsp;&nbsp; 7890 | 7450448 |
| 2.95%, 04/23/30<sup>(b)</sup> | &nbsp;&nbsp; 11940 | 10310735 |
| 6.00%, 10/15/33<sup>(b)</sup> | &nbsp;&nbsp; 4475 | 4479553 |
| 6.45%, 11/01/37<sup>(b)</sup> | &nbsp;&nbsp; 4230 | 4314451 |
| William Carter Co. (The), 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7399 | 7355583 |
| Wolverine World Wide Inc., 4.00%, <br> 08/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9107 | 7787319 |
|  |  | 110469011 |
| **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** |
| Allison Transmission Inc. |  |  |
| 3.75%, 01/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 17157 | 15226275 |
| 4.75%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6607 | 6443450 |
| 5.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8320 | 8291509 |
| Aston Martin Capital Holdings Ltd., 10.00%, <br> 03/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15893 | 15439704 |
| Jaguar Land Rover Automotive PLC |  |  |
| 4.50%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7156 | 6918395 |
| 5.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6478 | 6321871 |
| 5.88%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9620 | 9512513 |
| 7.75%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5486 | 5482467 |
| JB Poindexter & Co. Inc., 8.75%, 12/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10378 | 10888535 |
| Mclaren Finance PLC, 7.50%, 08/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 10660 | 10340200 |
| PM General Purchaser LLC, 9.50%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7664 | 7786394 |
| Wabash National Corp., 4.50%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7108 | 6469529 |
|  |  | 109120842 |
| **Auto Parts & Equipment — 1.6%** | **Auto Parts & Equipment — 1.6%** | **Auto Parts & Equipment — 1.6%** |
| Adient Global Holdings Ltd. |  |  |
| 4.88%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 12340 | 12161235 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| 7.00%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; $7615 | $7741522 |
| 8.25%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7682 | 7957976 |
| American Axle & Manufacturing Inc. |  |  |
| 5.00%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 9645 | 8726374 |
| 6.50%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 6108 | 6089281 |
| 6.88%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 6715 | 6646002 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |
| 6.25%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 8080 | 8096206 |
| 6.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 13551 | 13871183 |
| 8.50%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 14638 | 14716211 |
| Cooper-Standard Automotive Inc. |  |  |
| 10.63%, 05/15/27, (10.63% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 6190 | 5101105 |
| 13.50%, 03/31/27, <br> (9% Cash and 4.5% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 5887 | 6241592 |
| Dana Inc. |  |  |
| 4.25%, 09/01/30<sup>(b)</sup> | &nbsp;&nbsp; 6277 | 5488663 |
| 4.50%, 02/15/32<sup>(b)</sup> | &nbsp;&nbsp; 5600 | 4790120 |
| 5.38%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6923 | 6771371 |
| 5.63%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6786 | 6586349 |
| Dornoch Debt Merger Sub Inc., 6.63%, <br> 10/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10512 | 8797076 |
| Garrett Motion Holdings Inc./Garrett LX I SARL, <br> 7.75%, 05/31/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13158 | 13133546 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| 4.88%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 11596 | 11188614 |
| 5.00%, 05/31/26<sup>(b)</sup> | &nbsp;&nbsp; 10938 | 10748855 |
| 5.00%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 13647 | 12355952 |
| 5.25%, 04/30/31<sup>(b)</sup> | &nbsp;&nbsp; 8703 | 7644279 |
| 5.25%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 9695 | 8522465 |
| 5.63%, 04/30/33<sup>(b)</sup> | &nbsp;&nbsp; 7223 | 6246593 |
| IHO Verwaltungs GmbH |  |  |
| 6.38%, 05/15/29, (6.38% cash)<sup>(a)(c)</sup> | &nbsp;&nbsp; 7339 | 7094835 |
| 7.75%, 11/15/30, <br> (7.75% cash and 8.50% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 5606 | 5606651 |
| 8.00%, 11/15/32, <br> (8.00% cash and 8.75% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 6404 | 6424469 |
| Phinia Inc. |  |  |
| 6.63%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7850 | 7824163 |
| 6.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9640 | 9840578 |
| Real Hero Merger Sub 2 Inc., 6.25%, <br> 02/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9796 | 8555565 |
| Tenneco Inc., 8.00%, 11/17/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 29937 | 27721728 |
| Titan International Inc., 7.00%, 04/30/28<sup>(b)</sup> | &nbsp;&nbsp; 7028 | 6815497 |
| ZF North America Capital Inc. |  |  |
| 6.75%, 04/23/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12481 | 12302944 |
| 6.88%, 04/14/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9488 | 9570005 |
| 6.88%, 04/23/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 11258 | 10997982 |
| 7.13%, 04/14/30<sup>(a)</sup> | &nbsp;&nbsp; 9400 | 9453862 |
|  |  | 321830849 |
| **Banks — 0.9%** | **Banks — 0.9%** | **Banks — 0.9%** |
| Dresdner Funding Trust I, 8.15%, 06/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14223 | 15791607 |
| Esc Gcb Finance Of, 7.88%, 11/15/25 | &nbsp;&nbsp; 3389 |  |
| Finance of America Funding LLC |  |  |
| 7.88%, 11/30/27<sup>(a)</sup> | &nbsp;&nbsp; 1937 | 1723548 |
| 10.00%, 11/30/29<sup>(a)</sup> | &nbsp;&nbsp; 1451 | 1223756 |
| Freedom Mortgage Corp. |  |  |
| 6.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9190 | 9081644 |
| 7.63%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 6628 | 6651867 |
| 12.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11627 | 12562424 |
| 12.25%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8360 | 9207779 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Intesa Sanpaolo SpA |  |  |
| 4.20%, 06/01/32, <br> (1-year CMT + 2.600%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; $12555 | $10993183 |
| 4.95%, 06/01/42, <br> (1-year CMT + 2.750%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 10970 | 8506187 |
| 5.71%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 18918 | 18942121 |
| Standard Chartered PLC, 7.01%, <br> (3-mo. LIBOR US + 1.460%)<sup>(a)(b)(d)(e)</sup><br>| &nbsp;&nbsp; 8490 | 9026950 |
| Texas Capital Bancshares Inc., 4.00%, <br> 05/06/31, (5-year CMT + 3.150%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 5246 | 4982858 |
| UniCredit SpA |  |  |
| 5.46%, 06/30/35, <br> (5-year CMT + 4.750%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 23188 | 22365316 |
| 5.86%, 06/19/32, <br> (5-year USD ICE Swap + 3.703%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 16418 | 16359041 |
| 7.30%, 04/02/34, <br> (5-year USD ICE Swap + 4.914%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 18347 | 19199521 |
| Valley National Bancorp., 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.36%)<sup>(d)</sup><br>| &nbsp;&nbsp; 4130 | 3515104 |
| Western Alliance Bancorp, 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.250%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 9260 | 8554481 |
|  |  | 178687387 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Primo Water Holdings Inc., 4.38%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; 13802 | 13003268 |
| Triton Water Holdings Inc., 6.25%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 13098 | 12938286 |
|  |  | 25941554 |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |
| Emergent BioSolutions Inc., 3.88%, <br> 08/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4306 | 3459322 |
| **Building Materials — 2.0%** | **Building Materials — 2.0%** | **Building Materials — 2.0%** |
| ACProducts Holdings Inc., 6.38%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8095 | 5109962 |
| AmeriTex HoldCo Intermediate LLC, 10.25%, <br> 10/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9857 | 10371427 |
| Boise Cascade Co., 4.88%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6428 | 6098066 |
| Builders FirstSource Inc. |  |  |
| 4.25%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 19717 | 17638592 |
| 5.00%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9635 | 9204904 |
| 6.38%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10913 | 10974648 |
| 6.38%, 03/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 15097 | 15218652 |
| Camelot Return Merger Sub Inc., 8.75%, <br> 08/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12829 | 12888169 |
| Cornerstone Building Brands Inc. |  |  |
| 6.13%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4811 | 4299939 |
| 9.50%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7935 | 8168749 |
| CP Atlas Buyer Inc., 7.00%, 12/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8262 | 7561464 |
| Eco Material Technologies Inc., 7.88%, <br> 01/31/27<sup>(a)</sup><br>| &nbsp;&nbsp; 11215 | 11287258 |
| EMRLD Borrower LP/Emerald Co-Issuer Inc. |  |  |
| 6.63%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 42779 | 43507227 |
| 6.75%, 07/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7385 | 7549626 |
| Griffon Corp., 5.75%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 17018 | 16711815 |
| James Hardie International Finance DAC, <br> 5.00%, 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2970 | 2872011 |
| Jeld-Wen Inc., 4.88%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7461 | 7217881 |
| JELD-WEN Inc., 7.00%, 09/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 5545 | 5495348 |
| Knife River Corp., 7.75%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8127 | 8513935 |
| Louisiana-Pacific Corp., 3.63%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5533 | 5184280 |
| Masterbrand Inc., 7.00%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 12025 | 12317616 |
| Miter Brands Acquisition Holdco Inc./MIWD <br> Borrower LLC, 6.75%, 04/01/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11852 | 12056437 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| MIWD Holdco II LLC/MIWD Finance Corp., <br> 5.50%, 02/01/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $8848 | $8453633 |
| New Enterprise Stone & Lime Co. Inc., 5.25%, <br> 07/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9310 | 9008958 |
| Oscar AcquisitionCo LLC/Oscar Finance Inc., <br> 9.50%, 04/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9336 | 9121039 |
| Smyrna Ready Mix Concrete LLC |  |  |
| 6.00%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 18636 | 18482555 |
| 8.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 17676 | 18566703 |
| Standard Industries Inc./New York |  |  |
| 3.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 16900 | 14670718 |
| 4.38%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 24815 | 22803940 |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 15645 | 15089225 |
| 5.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 12996 | 12726853 |
| 6.50%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7655 | 7702622 |
| Summit Materials LLC/Summit Materials <br> Finance Corp.<br>|  |  |
| 5.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9778 | 9693841 |
| 6.50%, 03/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4029 | 4028355 |
| 7.25%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13184 | 13697715 |
| Wilsonart LLC, 11.00%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7869 | 7749061 |
|  |  | 412043224 |
| **Chemicals — 2.5%** | **Chemicals — 2.5%** | **Chemicals — 2.5%** |
| Ashland Inc. |  |  |
| 3.38%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7757 | 6709208 |
| 6.88%, 05/15/43<sup>(b)</sup> | &nbsp;&nbsp; 3978 | 4221621 |
| ASP Unifrax Holdings Inc. |  |  |
| 7.10%, 09/30/29, <br> (5.85% cash and 1.25% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 9065 | 5348531 |
| 11.18%, 09/30/29, <br> (10.43% cash and 11.18% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 11635 | 11522717 |
| Avient Corp. |  |  |
| 6.25%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp; 10385 | 10415376 |
| 7.13%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11687 | 12018724 |
| Axalta Coating Systems Dutch Holding B BV, <br> 7.25%, 02/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5615 | 5867928 |
| Axalta Coating Systems LLC, 3.38%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12962 | 11921689 |
| Axalta Coating Systems LLC/Axalta Coating <br> Systems Dutch Holding B BV, 4.75%, <br> 06/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5857 | 5739955 |
| Cerdia Finanz GmbH, 9.38%, 10/03/31<sup>(a)</sup> | &nbsp;&nbsp; 8870 | 9122352 |
| Chemours Co. (The) |  |  |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10068 | 8741126 |
| 5.38%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 8031 | 7732436 |
| 5.75%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12189 | 11251304 |
| Consolidated Energy Finance SA |  |  |
| 5.63%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8645 | 7045069 |
| 12.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9400 | 9167803 |
| CVR Partners LP/CVR Nitrogen Finance Corp., <br> 6.13%, 06/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 9799 | 9401806 |
| Element Solutions Inc., 3.88%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 14175 | 13654938 |
| GPD Companies Inc., 10.13%, 04/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 6314 | 5999420 |
| HB Fuller Co. |  |  |
| 4.00%, 02/15/27 | &nbsp;&nbsp; 4292 | 4173685 |
| 4.25%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 5987 | 5673178 |
| Herens Holdco SARL, 4.75%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5805 | 5072931 |
| Illuminate Buyer LLC/Illuminate Holdings IV Inc., <br> 9.00%, 07/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4698 | 4758961 |
| INEOS Finance PLC |  |  |
| 6.75%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7085 | 7152470 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| 7.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $13037 | $13450260 |
| INEOS Quattro Finance 2 PLC, 9.63%, <br> 03/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3415 | 3617589 |
| Ingevity Corp., 3.88%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9794 | 9012504 |
| Innophos Holdings Inc., 9.38%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4653 | 4381615 |
| LSF11 A5 HoldCo LLC, 6.63%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5387 | 5492165 |
| Mativ Holdings Inc., 8.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 1320 | 1343173 |
| Methanex Corp. |  |  |
| 5.13%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 11919 | 11599556 |
| 5.25%, 12/15/29 | &nbsp;&nbsp; 11628 | 11222273 |
| 5.65%, 12/01/44 | &nbsp;&nbsp; 3868 | 3421927 |
| Minerals Technologies Inc., 5.00%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7467 | 7224323 |
| NOVA Chemicals Corp. |  |  |
| 4.25%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9338 | 8507062 |
| 5.25%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 16239 | 15938473 |
| 8.50%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6766 | 7173706 |
| 9.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10816 | 11519808 |
| Nufarm Australia Ltd./Nufarm Americas Inc., <br> 5.00%, 01/27/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5814 | 5387631 |
| OCI NV, 6.70%, 03/16/33<sup>(a)</sup> | &nbsp;&nbsp; 9245 | 9221316 |
| Olin Corp. |  |  |
| 5.00%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 8410 | 8026710 |
| 5.13%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 7431 | 7328943 |
| 5.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 12131 | 11959940 |
| Olympus Water U.S. Holding Corp. |  |  |
| 4.25%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 9354 | 8804028 |
| 6.25%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5680 | 5417265 |
| 7.13%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3990 | 4051438 |
| 7.25%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 10400 | 10670504 |
| 9.75%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 18735 | 19876131 |
| Rain Carbon Inc., 12.25%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7900 | 8422941 |
| Rayonier AM Products Inc., 7.63%, <br> 01/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5497 | 5498850 |
| SCIH Salt Holdings Inc. |  |  |
| 4.88%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 16719 | 16009050 |
| 6.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10927 | 10608275 |
| SCIL IV LLC/SCIL USA Holdings LLC, Class-H, <br> 5.38%, 11/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 12449 | 12296761 |
| SK Invictus Intermediate II SARL, 5.00%, <br> 10/30/29<sup>(a)</sup><br>| &nbsp;&nbsp; 11226 | 10637925 |
| SNF Group SACA |  |  |
| 3.13%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5242 | 4986676 |
| 3.38%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 6155 | 5517515 |
| Trinseo Materials Operating SCA/Trinseo <br> Materials Finance Inc., 5.13%, 04/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3241 | 1738672 |
| Tronox Inc., 4.63%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 18093 | 16415549 |
| Vibrantz Technologies Inc., 9.00%, <br> 02/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11963 | 11207417 |
| WR Grace Holdings LLC |  |  |
| 4.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 12060 | 11833717 |
| 5.63%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 18201 | 16811676 |
| 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5469 | 5652419 |
|  |  | 524999011 |
| **Coal — 0.1%** | **Coal — 0.1%** | **Coal — 0.1%** |
| Alliance Resource Operating <br> Partners LP/Alliance Resource Finance <br> Corp., 8.63%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7850 | 8287433 |
| Coronado Finance Pty Ltd., 9.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4283 | 4381681 |
| SunCoke Energy Inc., 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 8251 | 7450398 |
|  |  | 20119512 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services — 5.1%** | **Commercial Services — 5.1%** | **Commercial Services — 5.1%** |
| ADT Security Corp. (The) |  |  |
| 4.13%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $15766 | $14741866 |
| 4.88%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12098 | 11274431 |
| Adtalem Global Education Inc., 5.50%, <br> 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 6574 | 6435297 |
| Albion Financing 1 SARL/Aggreko <br> Holdings Inc., 6.13%, 10/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 8270 | 8276525 |
| Albion Financing 2 SARL, 8.75%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5110 | 5235890 |
| Allied Universal Holdco LLC, 7.88%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 36081 | 36718660 |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp.<br>|  |  |
| 6.00%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15322 | 14019650 |
| 9.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 15470 | 15507267 |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp./Atlas Luxco 4 SARL, 4.63%, <br> 06/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 30480 | 28570818 |
| Alta Equipment Group Inc., 9.00%, <br> 06/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8010 | 7113934 |
| AMN Healthcare Inc. |  |  |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5489 | 5058652 |
| 4.63%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8857 | 8533767 |
| APi Group DE Inc. |  |  |
| 4.13%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5251 | 4843171 |
| 4.75%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4335 | 4113901 |
| Avis Budget Car Rental LLC/Avis Budget <br> Finance Inc.<br>|  |  |
| 4.75%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7613 | 7153737 |
| 5.38%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9145 | 8511504 |
| 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5862 | 5754214 |
| 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5351 | 5219615 |
| 8.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7615 | 7785005 |
| 8.25%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10780 | 11013074 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13787 | 13814712 |
| Block Inc. |  |  |
| 2.75%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 13164 | 12674616 |
| 3.50%, 06/01/31<sup>(b)</sup> | &nbsp;&nbsp; 16596 | 14711576 |
| 6.50%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 30224 | 30760929 |
| Boost Newco Borrower LLC, 7.50%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 35080 | 36982026 |
| Brink's Co. (The) |  |  |
| 4.63%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9194 | 8950499 |
| 6.50%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7490 | 7640160 |
| 6.75%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; 6915 | 7042257 |
| Carriage Services Inc., 4.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7347 | 6713934 |
| Champions Financing Inc., 8.75%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8554 | 8635562 |
| Cimpress PLC, 7.38%, 09/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8920 | 8781687 |
| CoreCivic Inc., 8.25%, 04/15/29 | &nbsp;&nbsp; 9305 | 9771646 |
| CPI CG Inc., 10.00%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5000 | 5237508 |
| Dcli Bidco LLC, 7.75%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7185 | 7306440 |
| Deluxe Corp., 8.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7912 | 7460313 |
| EquipmentShare.com Inc. |  |  |
| 8.00%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 8345 | 8425437 |
| 8.63%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9050 | 9336098 |
| 9.00%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 16304 | 16858911 |
| Garda World Security Corp. |  |  |
| 4.63%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9146 | 8905271 |
| 6.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8256 | 7737155 |
| 7.75%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6745 | 6965919 |
| 8.25%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8860 | 8814088 |
| 8.38%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; 15430 | 15428726 |
| 9.50%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 6126 | 6130950 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| GEO Group Inc. (The) |  |  |
| 8.63%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; $10345 | $10820932 |
| 10.25%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp; 9941 | 10654843 |
| Graham Holdings Co., 5.75%, 06/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3908 | 3905491 |
| Grand Canyon University, 5.13%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 6036 | 5650566 |
| Herc Holdings Inc. |  |  |
| 5.50%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 16301 | 16193568 |
| 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13986 | 14309982 |
| Hertz Corp. (The) |  |  |
| 4.63%, 12/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 7728 | 5838016 |
| 5.00%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15611 | 9967130 |
| 12.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12191 | 12926312 |
| Korn Ferry, 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6206 | 6050989 |
| Matthews International Corp., 8.63%, <br> 10/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4290 | 4425045 |
| Mavis Tire Express Services Topco Corp., <br> 6.50%, 05/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12326 | 11812669 |
| Mobius Merger Sub Inc., 9.00%, 06/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7991 | 7635081 |
| NESCO Holdings II Inc., 5.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 14941 | 13904422 |
| Paysafe Finance PLC/Paysafe Holdings <br> U.S. Corp., 4.00%, 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5906 | 5451310 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc.<br>|  |  |
| 3.38%, 08/31/27<sup>(a)</sup> | &nbsp;&nbsp; 16885 | 15890441 |
| 5.75%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 18229 | 18233375 |
| 6.25%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 20440 | 20418280 |
| PROG Holdings Inc., 6.00%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9556 | 9236376 |
| Raven Acquisition Holdings LLC, 6.88%, <br> 11/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 19625 | 19572684 |
| RR Donnelley & Sons Co. |  |  |
| 8.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 25 | 24195 |
| 9.50%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16664 | 16781481 |
| 10.88%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7525 | 7419024 |
| Service Corp. International/U.S. |  |  |
| 3.38%, 08/15/30 | &nbsp;&nbsp; 13545 | 12003679 |
| 4.00%, 05/15/31<sup>(b)</sup> | &nbsp;&nbsp; 12678 | 11433729 |
| 4.63%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6980 | 6835060 |
| 5.13%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 9505 | 9325794 |
| 5.75%, 10/15/32<sup>(b)</sup> | &nbsp;&nbsp; 13330 | 13094442 |
| Shift4 Payments LLC/Shift4 Payments Finance <br> Sub Inc.<br>|  |  |
| 4.63%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 7430 | 7305732 |
| 6.75%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 18000 | 18467982 |
| Signal Parent Inc., 6.13%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4923 | 3205236 |
| Sotheby's, 7.38%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 12321 | 11991054 |
| Sotheby's/Bidfair Holdings Inc., 5.88%, <br> 06/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4979 | 4365122 |
| TriNet Group Inc. |  |  |
| 3.50%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8272 | 7521804 |
| 7.13%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6523 | 6680341 |
| United Rentals North America Inc. |  |  |
| 3.75%, 01/15/32<sup>(b)</sup> | &nbsp;&nbsp; 12338 | 10940455 |
| 3.88%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 11814 | 11372629 |
| 3.88%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 17400 | 15785165 |
| 4.00%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11759 | 10859442 |
| 4.88%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 25353 | 24821228 |
| 5.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11453 | 11272644 |
| 5.50%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6180 | 6168139 |
| 6.13%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 17084 | 17226566 |
| Upbound Group Inc., 6.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7899 | 7516276 |
| Valvoline Inc., 3.63%, 06/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9257 | 8023336 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| VM Consolidated Inc., 5.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $5487 | $5306735 |
| Vortex Opco LLC |  |  |
| 8.00%, 04/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 832 | 312257 |
| 10.84%, 04/30/30, <br> (3-mo. CME Term SOFR + 6.250%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 665 | 657890 |
| VT Topco Inc., 8.50%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9246 | 9730916 |
| Wand NewCo 3 Inc., 7.63%, 01/30/32<sup>(a)</sup> | &nbsp;&nbsp; 21045 | 21752293 |
| WASH Multifamily Acquisition Inc., 5.75%, <br> 04/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11353 | 11324974 |
| Williams Scotsman Inc. |  |  |
| 4.63%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7674 | 7335770 |
| 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8045 | 8167075 |
| 7.38%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7703 | 7980154 |
| WW International Inc., 4.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5636 | 1409000 |
| ZipRecruiter Inc., 5.00%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9561 | 8622199 |
|  |  | 1056904728 |
| **Computers — 1.3%** | **Computers — 1.3%** | **Computers — 1.3%** |
| Ahead DB Holdings LLC, 6.63%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6956 | 6753234 |
| Amentum Holdings Inc., 7.25%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp; 16910 | 17514820 |
| ASGN Inc., 4.63%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10277 | 9813679 |
| Conduent Business Services LLC/Conduent <br> State & Local Solutions Inc., 6.00%, <br> 11/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8590 | 8157384 |
| Crane NXT Co., 4.20%, 03/15/48 | &nbsp;&nbsp; 4700 | 3249219 |
| Crowdstrike Holdings Inc., 3.00%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 12450 | 11321223 |
| Fortress Intermediate 3 Inc., 7.50%, <br> 06/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13035 | 13550951 |
| Insight Enterprises Inc., 6.63%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9156 | 9360325 |
| KBR Inc., 4.75%, 09/30/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3839 | 3671044 |
| McAfee Corp., 7.38%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 31859 | 30715039 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 21307 | 23450607 |
| NCR Voyix Corp. |  |  |
| 5.00%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9542 | 9179097 |
| 5.13%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5413 | 5173138 |
| Science Applications International Corp., 4.88%, <br> 04/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 7985 | 7816207 |
| Seagate HDD Cayman |  |  |
| 4.09%, 06/01/29 | &nbsp;&nbsp; 7513 | 7083625 |
| 4.13%, 01/15/31 | &nbsp;&nbsp; 3897 | 3504491 |
| 4.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 7994 | 7884771 |
| 5.75%, 12/01/34<sup>(b)</sup> | &nbsp;&nbsp; 7624 | 7515345 |
| 8.25%, 12/15/29<sup>(b)</sup> | &nbsp;&nbsp; 7548 | 8121271 |
| 8.50%, 07/15/31 | &nbsp;&nbsp; 8175 | 8812928 |
| 9.63%, 12/01/32 | &nbsp;&nbsp; 12127 | 13820647 |
| Unisys Corp., 6.88%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8535 | 8343359 |
| Virtusa Corp., 7.13%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5351 | 5188855 |
| Western Digital Corp., 4.75%, 02/15/26 | &nbsp;&nbsp; 33275 | 32883779 |
|  |  | 262885038 |
| **Cosmetics & Personal Care — 0.4%** | **Cosmetics & Personal Care — 0.4%** | **Cosmetics & Personal Care — 0.4%** |
| Coty Inc., 5.00%, 04/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5686 | 5656396 |
| Coty Inc./HFC Prestige Products Inc./HFC <br> Prestige International U.S. LLC<br>|  |  |
| 4.75%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8515 | 8214479 |
| 6.63%, 07/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12605 | 12852083 |
| Edgewell Personal Care Co. |  |  |
| 4.13%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8547 | 7979460 |
| 5.50%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12977 | 12785726 |
| Oriflame Investment Holding PLC, 5.13%, <br> 05/04/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2675 | 609900 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** |
| Perrigo Finance Unlimited Co. |  |  |
| 4.90%, 12/15/44<sup>(b)</sup> | &nbsp;&nbsp; $4340 | $3478541 |
| 5.15%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11713 | 11089202 |
| 6.13%, 09/30/32<sup>(b)</sup> | &nbsp;&nbsp; 11952 | 11802600 |
| Prestige Brands Inc. |  |  |
| 3.75%, 04/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10793 | 9620731 |
| 5.13%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7181 | 7031474 |
|  |  | 91120592 |
| **Distribution & Wholesale — 0.7%** | **Distribution & Wholesale — 0.7%** | **Distribution & Wholesale — 0.7%** |
| American Builders & Contractors Supply <br> Co. Inc.<br>|  |  |
| 3.88%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7246 | 6589333 |
| 4.00%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11964 | 11370924 |
| BCPE Empire Holdings Inc., 7.63%, <br> 05/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11935 | 12005918 |
| Dealer Tire LLC/DT Issuer LLC, 8.00%, <br> 02/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9138 | 9012116 |
| Gates Corp./DE, 6.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9676 | 9941413 |
| H&E Equipment Services Inc., 3.88%, <br> 12/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 21060 | 19445844 |
| Resideo Funding Inc. |  |  |
| 4.00%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4965 | 4557285 |
| 6.50%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9642 | 9703988 |
| Ritchie Bros Holdings Inc. |  |  |
| 6.75%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8163 | 8370506 |
| 7.75%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14180 | 14939920 |
| Velocity Vehicle Group LLC, 8.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9179 | 9456995 |
| Verde Purchaser LLC, 10.50%, 11/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11722 | 12511711 |
| Wesco Aircraft Holdings Inc. |  |  |
| 8.50%, 11/15/24<sup>(a)(f)(g)</sup> | &nbsp;&nbsp; 2840 | 397600 |
| 9.00%, 11/15/26<sup>(a)(b)(f)(g)</sup> | &nbsp;&nbsp; 4347 | 1782270 |
| Windsor Holdings III LLC, 8.50%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13782 | 14504351 |
|  |  | 144590174 |
| **Diversified Financial Services — 4.6%** | **Diversified Financial Services — 4.6%** | **Diversified Financial Services — 4.6%** |
| AG Issuer LLC, 6.25%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9189 | 8997210 |
| AG TTMT Escrow Issuer LLC, 8.63%, <br> 09/30/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7130 | 7366138 |
| Ally Financial Inc. |  |  |
| 5.75%, 11/20/25<sup>(b)</sup> | &nbsp;&nbsp; 10193 | 10232986 |
| 6.70%, 02/14/33<sup>(b)</sup> | &nbsp;&nbsp; 8909 | 8946607 |
| Aretec Group Inc. |  |  |
| 7.50%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6337 | 6102593 |
| 10.00%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11247 | 12254787 |
| Armor Holdco Inc., 8.50%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4901 | 4798043 |
| Azorra Finance Ltd., 7.75%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7735 | 7642919 |
| Bread Financial Holdings Inc., 9.75%, <br> 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 15412 | 16278740 |
| Brightsphere Investment Group Inc., 4.80%, <br> 07/27/26<br>| &nbsp;&nbsp; 5085 | 4975152 |
| Burford Capital Global Finance LLC |  |  |
| 6.25%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7286 | 7268225 |
| 6.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5281 | 5305076 |
| 9.25%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 11010 | 11792238 |
| Castlelake Aviation Finance DAC, 5.00%, <br> 04/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6420 | 6457431 |
| Cobra AcquisitionCo LLC, 6.38%, 11/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6040 | 4995069 |
| Coinbase Global Inc. |  |  |
| 3.38%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 16631 | 14782405 |
| 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10800 | 9006558 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Credit Acceptance Corp. |  |  |
| 6.63%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; $4147 | $4142917 |
| 9.25%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10074 | 10659877 |
| Encore Capital Group Inc. |  |  |
| 8.50%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8045 | 8481039 |
| 9.25%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8625 | 9183486 |
| Enova International Inc. |  |  |
| 9.13%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8195 | 8412635 |
| 11.25%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6905 | 7434178 |
| Focus Financial Partners LLC, 6.75%, <br> 09/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15590 | 15487810 |
| Freedom Mortgage Holdings LLC |  |  |
| 9.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 11618 | 11768662 |
| 9.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 17985 | 18418798 |
| GGAM Finance Ltd. |  |  |
| 5.88%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 6424 | 6335670 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5401 | 5503981 |
| 8.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 12230 | 12634935 |
| 8.00%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8664 | 9134222 |
| 7.75%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5490 | 5586443 |
| Global Aircraft Leasing Co. Ltd., 8.75%, <br> 09/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 17560 | 18145386 |
| goeasy Ltd. |  |  |
| 4.38%, 05/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4037 | 4016811 |
| 7.63%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10807 | 11098973 |
| 9.25%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8384 | 8940002 |
| Series 144\*, 6.88%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 4295 | 4363201 |
| GPS Hospitality Holding Co. LLC/GPS <br> Finco Inc., 7.00%, 08/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6354 | 3940727 |
| Hightower Holding LLC |  |  |
| 6.75%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4508 | 4438106 |
| 9.13%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6316 | 6659079 |
| Jane Street Group/JSG Finance Inc. |  |  |
| 4.50%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7922 | 7495509 |
| 6.13%, 11/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 17050 | 17061036 |
| 7.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; 21580 | 22368425 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp. |  |  |
| 5.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 16019 | 14776536 |
| 6.63%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 7450 | 7418901 |
| Jefferson Capital Holdings LLC |  |  |
| 6.00%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3907 | 3893480 |
| 9.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7589 | 8072090 |
| LD Holdings Group LLC |  |  |
| 6.13%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8420 | 7294229 |
| 8.75%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5316 | 5091718 |
| LFS Topco LLC, 5.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4300 | 4053456 |
| Midcap Financial Issuer Trust |  |  |
| 5.63%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6523 | 5757967 |
| 6.50%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 15884 | 15013368 |
| Nationstar Mortgage Holdings Inc. |  |  |
| 5.00%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 4877 | 4827738 |
| 5.13%, 12/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10187 | 9536818 |
| 5.50%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12895 | 12582706 |
| 5.75%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8720 | 8340343 |
| 6.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10029 | 9992685 |
| 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 11905 | 11904525 |
| 7.13%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 15995 | 16353320 |
| Navient Corp. |  |  |
| 4.88%, 03/15/28 | &nbsp;&nbsp; 7449 | 7097665 |
| 5.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 10821 | 10638018 |
| 5.50%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 11294 | 10758861 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 5.63%, 08/01/33<sup>(b)</sup> | &nbsp;&nbsp; $9015 | $7779250 |
| 6.75%, 06/15/26 | &nbsp;&nbsp; 8381 | 8541102 |
| 9.38%, 07/25/30 | &nbsp;&nbsp; 7810 | 8503013 |
| 11.50%, 03/15/31 | &nbsp;&nbsp; 7910 | 8878216 |
| OneMain Finance Corp. |  |  |
| 3.50%, 01/15/27 | &nbsp;&nbsp; 12061 | 11510761 |
| 3.88%, 09/15/28 | &nbsp;&nbsp; 10207 | 9407818 |
| 4.00%, 09/15/30<sup>(b)</sup> | &nbsp;&nbsp; 13529 | 11909481 |
| 5.38%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 11559 | 11077851 |
| 6.63%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 11885 | 12071559 |
| 6.63%, 05/15/29 | &nbsp;&nbsp; 3545 | 3545000 |
| 7.13%, 03/15/26 | &nbsp;&nbsp; 21000 | 21514225 |
| 7.13%, 11/15/31 | &nbsp;&nbsp; 11950 | 12086672 |
| 7.50%, 05/15/31 | &nbsp;&nbsp; 11720 | 11985446 |
| 7.88%, 03/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11090 | 11545211 |
| 9.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 14610 | 15479251 |
| Osaic Holdings Inc., 10.75%, 08/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3457 | 3567662 |
| Oxford Finance LLC/Oxford Finance Co-Issuer <br> II Inc., 6.38%, 02/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 6974 | 6869842 |
| PennyMac Financial Services Inc. |  |  |
| 4.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9588 | 8943459 |
| 5.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 7649 | 7302306 |
| 7.13%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9845 | 9991763 |
| 7.88%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11080 | 11600516 |
| PHH Escrow Issuer LLC, 9.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7475 | 7325500 |
| PHH Mortgage Corp., 7.88%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3685 | 3758627 |
| PRA Group Inc. |  |  |
| 5.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5706 | 5163259 |
| 8.38%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7496 | 7707814 |
| 8.88%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6455 | 6697108 |
| Provident Funding Associates LP/PFG Finance <br> Corp., 9.75%, 09/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7020 | 7178554 |
| Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer Inc.<br>|  |  |
| 2.88%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 18396 | 17505731 |
| 3.63%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 12126 | 11169073 |
| 3.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 18695 | 16650870 |
| 4.00%, 10/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 12833 | 11067916 |
| SLM Corp., 3.13%, 11/02/26 | &nbsp;&nbsp; 8266 | 7838541 |
| StoneX Group Inc., 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 9727 | 10232718 |
| Synchrony Financial, 7.25%, 02/02/33<sup>(b)</sup> | &nbsp;&nbsp; 12134 | 12423826 |
| United Wholesale Mortgage LLC |  |  |
| 5.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 7592 | 7553613 |
| 5.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12519 | 11939374 |
| 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8606 | 8456120 |
| VFH Parent LLC / Valor Co-Issuer Inc., 7.50%, <br> 06/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8835 | 9071981 |
|  |  | 938169538 |
| **Electric — 3.0%** | **Electric — 3.0%** | **Electric — 3.0%** |
| AES Corp. (The), 7.60%, 01/15/55, <br> (5-year CMT + 3.201%)<sup>(d)</sup><br>| &nbsp;&nbsp; 15077 | 15625218 |
| Algonquin Power & Utilities Corp., 4.75%, <br> 01/18/82, (5-year CMT + 3.249%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 11905 | 11148184 |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 16175 | 16402229 |
| Atlantica Sustainable Infrastructure PLC, 4.13%, <br> 06/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4320 | 4119533 |
| California Buyer Ltd./Atlantica Sustainable <br> Infrastructure PLC, 6.38%, 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 11380 | 11301354 |
| Calpine Corp. |  |  |
| 3.75%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14303 | 12889194 |
| 4.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 19273 | 18562857 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 4.63%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; $9687 | $9185635 |
| 5.00%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 13890 | 13108524 |
| 5.13%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 21538 | 21049841 |
| 5.25%, 06/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1431 | 1421555 |
| Clearway Energy Operating LLC |  |  |
| 3.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 16010 | 14292021 |
| 3.75%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 4318 | 3826374 |
| 4.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 14646 | 14206599 |
| DPL Inc., 4.35%, 04/15/29 | &nbsp;&nbsp; 6438 | 6045765 |
| Edison International |  |  |
| 7.88%, 06/15/54, <br> (5-year CMT + 3.658%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 6590 | 6892804 |
| 8.13%, 06/15/53, (5-year CMT + 3.864%)<sup>(d)</sup> | &nbsp;&nbsp; 7060 | 7406992 |
| Electricite de France SA, 9.13%, <br> (5-year CMT + 5.411%)<sup>(a)(b)(d)(e)</sup><br>| &nbsp;&nbsp; 23138 | 26206909 |
| Emera Inc., Series 16-A, 6.75%, 06/15/76, <br> (3-mo. LIBOR US + 5.440%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 16846 | 16866771 |
| EUSHI Finance Inc., 7.63%, 12/15/54, <br> (5-year CMT + 3.136%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 7875 | 8154145 |
| Leeward Renewable Energy Operations LLC, <br> 4.25%, 07/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 6019 | 5631818 |
| Lightning Power LLC, 7.25%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 24090 | 25061814 |
| NextEra Energy Operating Partners LP |  |  |
| 3.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 8932 | 8610743 |
| 4.50%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8836 | 8482600 |
| 7.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12130 | 12477003 |
| NRG Energy Inc. |  |  |
| 3.38%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8247 | 7519934 |
| 3.63%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 18001 | 15937133 |
| 3.88%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7070 | 6278641 |
| 5.25%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12100 | 11824136 |
| 5.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 10405 | 10410639 |
| 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 14004 | 13818699 |
| 6.00%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp; 13665 | 13589365 |
| 6.25%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp; 13805 | 13790464 |
| Pattern Energy Operations LP/Pattern Energy <br> Operations Inc., 4.50%, 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 11099 | 10580470 |
| PG&E Corp. |  |  |
| 5.00%, 07/01/28 | &nbsp;&nbsp; 15664 | 15277853 |
| 5.25%, 07/01/30<sup>(b)</sup> | &nbsp;&nbsp; 15780 | 15378323 |
| 7.38%, 03/15/55, <br> (5-year CMT + 3.883%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 16080 | 16609321 |
| Pike Corp. |  |  |
| 5.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11455 | 11224072 |
| 8.63%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; 6320 | 6714848 |
| Talen Energy Supply LLC, 8.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 20448 | 22057871 |
| Terraform Global Operating LP, 6.13%, <br> 03/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3806 | 3796939 |
| TransAlta Corp. |  |  |
| 6.50%, 03/15/40 | &nbsp;&nbsp; 3648 | 3751589 |
| 7.75%, 11/15/29 | &nbsp;&nbsp; 7403 | 7817516 |
| Vistra Operations Co. LLC |  |  |
| 4.38%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19788 | 18836144 |
| 5.00%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp; 20073 | 19808930 |
| 5.50%, 09/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 12535 | 12497176 |
| 5.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 16531 | 16488347 |
| 6.88%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 15545 | 16074374 |
| 7.75%, 10/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 22585 | 23858190 |
|  |  | 612917456 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electrical Components & Equipment — 0.4%** | **Electrical Components & Equipment — 0.4%** | **Electrical Components & Equipment — 0.4%** |
| Energizer Holdings Inc. |  |  |
| 4.38%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $12323 | $11525628 |
| 4.75%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9100 | 8735688 |
| 6.50%, 12/31/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3521 | 3561143 |
| EnerSys |  |  |
| 4.38%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4789 | 4607205 |
| 6.63%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 4765 | 4893769 |
| WESCO Distribution Inc. |  |  |
| 6.38%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14795 | 15096626 |
| 6.63%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13564 | 13899643 |
| 7.25%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12321 | 12610925 |
|  |  | 74930627 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| Atkore Inc., 4.25%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7675 | 6917936 |
| Coherent Corp., 5.00%, 12/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16657 | 15979087 |
| Imola Merger Corp., 4.75%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 31639 | 30585997 |
| Sensata Technologies BV |  |  |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16198 | 15146756 |
| 5.88%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 7842 | 7760610 |
| Sensata Technologies Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 11375 | 10152256 |
| 4.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 6556 | 6104286 |
| 6.63%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8380 | 8490076 |
| TTM Technologies Inc., 4.00%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8065 | 7540054 |
|  |  | 108677058 |
| **Energy - Alternate Sources — 0.2%** | **Energy - Alternate Sources — 0.2%** | **Energy - Alternate Sources — 0.2%** |
| Sunnova Energy Corp. |  |  |
| 5.88%, 09/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 6159 | 5504971 |
| 11.75%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6287 | 5111654 |
| TerraForm Power Operating LLC |  |  |
| 4.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 12615 | 11770239 |
| 5.00%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; 11773 | 11502408 |
| Topaz Solar Farms LLC, 5.75%, 09/30/39<sup>(a)(b)</sup> | &nbsp;&nbsp; 6062 | 6038948 |
|  |  | 39928220 |
| **Engineering & Construction — 0.7%** | **Engineering & Construction — 0.7%** | **Engineering & Construction — 0.7%** |
| AECOM, 5.13%, 03/15/27 | &nbsp;&nbsp; 16654 | 16564881 |
| Arcosa Inc. |  |  |
| 4.38%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6238 | 5886610 |
| 6.88%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9475 | 9724818 |
| Artera Services LLC, 8.50%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9185 | 9102792 |
| ATP Tower Holdings LLC/Andean Tower <br> Partners Colombia SAS/Andean Telecom <br> Partners, 4.05%, 04/27/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4797 | 4628437 |
| Brand Industrial Services Inc., 10.38%, <br> 08/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 20792 | 22042576 |
| Brundage-Bone Concrete Pumping <br> Holdings Inc., 6.00%, 02/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4047 | 4027052 |
| Dycom Industries Inc., 4.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7984 | 7541387 |
| Fluor Corp., 4.25%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 8320 | 7996928 |
| Global Infrastructure Solutions Inc. |  |  |
| 5.63%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6211 | 6056133 |
| 7.50%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 4270 | 4341535 |
| Great Lakes Dredge & Dock Corp., 5.25%, <br> 06/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4900 | 4604323 |
| INNOVATE Corp., 8.50%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4365 | 3551679 |
| Railworks Holdings LP/Railworks Rally Inc., <br> 8.25%, 11/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4600 | 4708339 |
| TopBuild Corp. |  |  |
| 3.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6570 | 6022854 |
| 4.13%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6654 | 5932042 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Engineering & Construction (continued)** | **Engineering & Construction (continued)** | **Engineering & Construction (continued)** |
| Tutor Perini Corp., 11.88%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; $6286 | $6898665 |
| Weekley Homes LLC/Weekley Finance Corp., <br> 4.88%, 09/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6812 | 6508989 |
|  |  | 136140040 |
| **Entertainment — 3.0%** | **Entertainment — 3.0%** | **Entertainment — 3.0%** |
| Affinity Interactive, 6.88%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8636 | 7072070 |
| Allen Media LLC/Allen Media Co-Issuer Inc., <br> 10.50%, 02/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4578 | 1991430 |
| AMC Entertainment Holdings Inc. |  |  |
| 7.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14813 | 12779288 |
| 10.00%, 06/15/26, <br> (10.00% Cash or 12.00% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 13490 | 13532129 |
| Banijay Entertainment SASU, 8.13%, <br> 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7338 | 7608621 |
| Boyne USA Inc., 4.75%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12465 | 11886873 |
| Caesars Entertainment Inc. |  |  |
| 4.63%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19529 | 18309236 |
| 6.00%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 16400 | 15997014 |
| 6.50%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 23260 | 23588315 |
| 7.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 30540 | 31305096 |
| 8.13%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5441 | 5547747 |
| CCM Merger Inc., 6.38%, 05/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1832 | 1826093 |
| Cedar Fair LP/Canada's Wonderland <br> Co./Magnum Management <br> Corp./Millennium Op<br>|  |  |
| 5.25%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 7281 | 7013610 |
| 5.38%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5302 | 5261651 |
| 6.50%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 4294 | 4330435 |
| Churchill Downs Inc. |  |  |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10866 | 10541918 |
| 5.50%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 10231 | 10170036 |
| 5.75%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 18610 | 18320739 |
| 6.75%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9567 | 9739866 |
| Cinemark USA Inc. |  |  |
| 5.25%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13334 | 13083058 |
| 7.00%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8345 | 8554001 |
| Empire Resorts Inc., 7.75%, 11/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5115 | 4872037 |
| Everi Holdings Inc., 5.00%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3445 | 3418143 |
| Great Canadian Gaming Corp., 8.75%, <br> 11/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2650 | 2650000 |
| International Game Technology PLC |  |  |
| 4.13%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 7489 | 7381334 |
| 5.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13043 | 12814725 |
| 6.25%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 13815 | 13951976 |
| Jacobs Entertainment Inc., 6.75%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8004 | 7877983 |
| Light & Wonder International Inc. |  |  |
| 7.00%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8217 | 8251881 |
| 7.25%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8677 | 8871686 |
| 7.50%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9216 | 9520146 |
| Lions Gate Capital Holdings 1 Inc., 5.50%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7714 | 6807374 |
| Live Nation Entertainment Inc. |  |  |
| 3.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9400 | 8905355 |
| 4.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 15524 | 15107465 |
| 5.63%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2649 | 2637967 |
| 6.50%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 17605 | 17848371 |
| Merlin Entertainments Group U.S. Holdings Inc., <br> 7.38%, 02/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7413 | 7268597 |
| Merlin Entertainments Ltd., 5.75%, <br> 06/15/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5673 | 5593468 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Midwest Gaming Borrower LLC/Midwest <br> Gaming Finance Corp., 4.88%, 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; $12824 | $12106352 |
| Mohegan Tribal Gaming Authority, 8.00%, <br> 02/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12952 | 12864871 |
| Motion Bondco DAC, 6.63%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7020 | 6642607 |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6746 | 7100282 |
| Ontario Gaming GTA LP/OTG Co-Issuer Inc., <br> 8.00%, 08/01/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6705 | 6891553 |
| Penn Entertainment Inc. |  |  |
| 4.13%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7264 | 6530432 |
| 5.63%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7445 | 7303143 |
| Premier Entertainment Sub LLC/Premier <br> Entertainment Finance Corp.<br>|  |  |
| 5.63%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11471 | 8115732 |
| 5.88%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; 11643 | 7511910 |
| Raptor Acquisition Corp./Raptor Co-Issuer LLC, <br> 4.88%, 11/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6101 | 6050054 |
| Resorts World Las Vegas LLC/RWLV <br> Capital Inc.<br>|  |  |
| 4.63%, 04/16/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16085 | 14171557 |
| 4.63%, 04/06/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5485 | 4652808 |
| 8.45%, 07/27/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5547 | 5720305 |
| Scientific Games Holdings LP/Scientific Games <br> U.S. FinCo Inc., 6.63%, 03/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 13430 | 13092986 |
| SeaWorld Parks & Entertainment Inc., 5.25%, <br> 08/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12928 | 12416082 |
| Six Flags Entertainment Corp./DE |  |  |
| 5.50%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9266 | 9210799 |
| 7.25%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13217 | 13548311 |
| Six Flags Entertainment Corp./Six Flags Theme <br> Parks Inc., 6.63%, 05/01/32<sup>(a)</sup><br>| &nbsp;&nbsp; 13749 | 14008375 |
| Speedway Motorsports LLC/Speedway Funding <br> II Inc., 4.88%, 11/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6312 | 6169397 |
| Vail Resorts Inc., 6.50%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10898 | 11161721 |
| Wynn Resorts Finance LLC/Wynn Resorts <br> Capital Corp.<br>|  |  |
| 5.13%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11740 | 11397437 |
| 6.25%, 03/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 13130 | 13068477 |
| 7.13%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 15450 | 16253168 |
|  |  | 608226093 |
| **Environmental Control — 0.7%** | **Environmental Control — 0.7%** | **Environmental Control — 0.7%** |
| Clean Harbors Inc. |  |  |
| 4.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8756 | 8622784 |
| 5.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5134 | 4995136 |
| 6.38%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9080 | 9148263 |
| Enviri Corp., 5.75%, 07/31/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8180 | 7884048 |
| GFL Environmental Inc. |  |  |
| 3.50%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11517 | 10797967 |
| 4.00%, 08/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11506 | 10881893 |
| 4.38%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8695 | 8147418 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11323 | 10840772 |
| 5.13%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4693 | 4646388 |
| 6.75%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 15282 | 15734607 |
| Madison IAQ LLC |  |  |
| 4.13%, 06/30/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10807 | 10256989 |
| 5.88%, 06/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16203 | 15368102 |
| Reworld Holding Corp. |  |  |
| 4.88%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 12820 | 11973752 |
| 5.00%, 09/01/30 | &nbsp;&nbsp; 6332 | 5818991 |
| Stericycle Inc., 3.88%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5496 | 5400078 |
| Waste Pro USA Inc., 5.50%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4620 | 4607635 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control (continued)** | **Environmental Control (continued)** | **Environmental Control (continued)** |
| Wrangler Holdco Corp., 6.63%, 04/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; $7950 | $8114350 |
|  |  | 153239173 |
| **Food — 2.4%** | **Food — 2.4%** | **Food — 2.4%** |
| Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| 3.25%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 6549 | 6327260 |
| 3.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 18760 | 17332694 |
| 4.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 17537 | 17205433 |
| 4.88%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14363 | 13989668 |
| 5.88%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9501 | 9516192 |
| 6.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10122 | 10357964 |
| 7.50%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5107 | 5165552 |
| Aragvi Finance International DAC, 8.45%, <br> 04/29/26<sup>(a)</sup><br>| &nbsp;&nbsp; 1100 | 1093180 |
| B&G Foods Inc. |  |  |
| 5.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 9004 | 8736750 |
| 8.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13257 | 13772684 |
| C&S Group Enterprises LLC, 5.00%, <br> 12/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6537 | 5410842 |
| Chobani Holdco II LLC, 8.75%, 10/01/29, <br> (8.75% cash and 9.5% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 4382 | 4520676 |
| Chobani LLC/Chobani Finance Corp. Inc. |  |  |
| 4.63%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7345 | 7052509 |
| 7.63%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8620 | 8986517 |
| Fiesta Purchaser Inc. |  |  |
| 7.88%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9136 | 9580996 |
| 9.63%, 09/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6208 | 6488924 |
| H-Food Holdings LLC/Hearthside Finance Co. <br> Inc., 8.50%, 06/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2569 | 186926 |
| Ingles Markets Inc., 4.00%, 06/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6674 | 5954709 |
| KeHE Distributors LLC/KeHE Finance <br> Corp./NextWave Distribution Inc., 9.00%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 16921 | 17521034 |
| Lamb Weston Holdings Inc. |  |  |
| 4.13%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15253 | 14161741 |
| 4.38%, 01/31/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 11359 | 10406158 |
| 4.88%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8124 | 7958357 |
| Performance Food Group Inc. |  |  |
| 4.25%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 15863 | 14847344 |
| 5.50%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 13293 | 13180339 |
| 6.13%, 09/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 15745 | 15810877 |
| Pilgrim's Pride Corp. |  |  |
| 3.50%, 03/01/32 | &nbsp;&nbsp; 13268 | 11605865 |
| 4.25%, 04/15/31 | &nbsp;&nbsp; 14469 | 13450231 |
| 6.25%, 07/01/33 | &nbsp;&nbsp; 14931 | 15499319 |
| 6.88%, 05/15/34 | &nbsp;&nbsp; 7400 | 8040352 |
| Post Holdings Inc. |  |  |
| 4.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 15745 | 14333762 |
| 4.63%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 21569 | 20158103 |
| 5.50%, 12/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19680 | 19194410 |
| 5.63%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5441 | 5485434 |
| 6.25%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 15304 | 15473997 |
| 6.25%, 10/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 9105 | 9004410 |
| 6.38%, 03/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 18205 | 18010871 |
| Safeway Inc., 7.25%, 02/01/31 | &nbsp;&nbsp; 3526 | 3592539 |
| Sigma Holdco BV, 7.88%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2477 | 2453141 |
| Simmons Foods Inc./Simmons Prepared <br> Foods Inc./Simmons Pet Food Inc./Simmons <br> Feed, 4.63%, 03/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14791 | 13701329 |
| TreeHouse Foods Inc., 4.00%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 9552 | 8704405 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| U.S. Foods Inc. |  |  |
| 4.63%, 06/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; $9162 | $8693008 |
| 4.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 14724 | 14184140 |
| 5.75%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 5750 | 5662490 |
| 6.88%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7175 | 7375254 |
| 7.25%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8696 | 9035274 |
| United Natural Foods Inc., 6.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9341 | 9014071 |
| Viking Baked Goods Acquisition Corp., 8.63%, <br> 11/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 13000 | 12958613 |
|  |  | 491196344 |
| **Food Service — 0.2%** | **Food Service — 0.2%** | **Food Service — 0.2%** |
| Aramark Services Inc., 5.00%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 18459 | 18125708 |
| TKC Holdings Inc. |  |  |
| 6.88%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7674 | 7555084 |
| 10.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10568 | 10675160 |
|  |  | 36355952 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| Ahlstrom Holding 3 OY, 4.88%, 02/04/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4238 | 4009614 |
| Domtar Corp., 6.75%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10325 | 9440808 |
| Glatfelter Corp. |  |  |
| 4.75%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8011 | 7197776 |
| 7.25%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 5730 | 5681295 |
| Mercer International Inc. |  |  |
| 5.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 13946 | 12036102 |
| 5.50%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 2917 | 2917000 |
| 12.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3013 | 3190249 |
|  |  | 44472844 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| AltaGas Ltd., 7.20%, 10/15/54, <br> (5-year CMT + 3.573%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 14085 | 14120044 |
| AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |
| 5.75%, 05/20/27 | &nbsp;&nbsp; 8398 | 8099586 |
| 5.88%, 08/20/26<sup>(b)</sup> | &nbsp;&nbsp; 11446 | 11215362 |
| 9.38%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8257 | 8494316 |
|  |  | 41929308 |
| **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** |
| Werner FinCo LP/Werner FinCo Inc. |  |  |
| 11.50%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8109 | 9014548 |
| 14.50%, 10/15/28, (5.75% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 2837 | 2897687 |
|  |  | 11912235 |
| **Health Care - Products — 1.2%** | **Health Care - Products — 1.2%** | **Health Care - Products — 1.2%** |
| Avantor Funding Inc. |  |  |
| 3.88%, 11/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14377 | 13260061 |
| 4.63%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 25103 | 24272625 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 22675 | 23789930 |
| Embecta Corp., 5.00%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8505 | 7698447 |
| Hologic Inc. |  |  |
| 3.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15229 | 13985941 |
| 4.63%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6609 | 6483991 |
| Medline Borrower LP |  |  |
| 3.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 69940 | 65426786 |
| 5.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 38473 | 37264986 |
| Medline Borrower LP/Medline Co-Issuer Inc., <br> 6.25%, 04/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 22970 | 23370689 |
| Neogen Food Safety Corp., 8.63%, <br> 07/20/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6284 | 6801186 |
| Sotera Health Holdings LLC, 7.38%, <br> 06/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12858 | 13167363 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products (continued)** | **Health Care - Products (continued)** | **Health Care - Products (continued)** |
| Teleflex Inc. |  |  |
| 4.25%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; $8546 | $8192985 |
| 4.63%, 11/15/27 | &nbsp;&nbsp; 7495 | 7367510 |
|  |  | 251082500 |
| **Health Care - Services — 4.1%** | **Health Care - Services — 4.1%** | **Health Care - Services — 4.1%** |
| Acadia Healthcare Co. Inc. |  |  |
| 5.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7905 | 7423319 |
| 5.50%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8162 | 7918358 |
| AHP Health Partners Inc., 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5403 | 5236898 |
| Catalent Pharma Solutions Inc. |  |  |
| 3.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5567 | 5404650 |
| 3.50%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6543 | 6332875 |
| 5.00%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6569 | 6527759 |
| Charles River Laboratories International Inc. |  |  |
| 3.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8647 | 7926818 |
| 4.00%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8020 | 7168051 |
| 4.25%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7887 | 7498046 |
| CHS/Community Health Systems Inc. |  |  |
| 4.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 16502 | 13762163 |
| 5.25%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 24047 | 20986598 |
| 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 26758 | 26096058 |
| 6.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9727 | 9160268 |
| 6.13%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 18962 | 14846814 |
| 6.88%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9904 | 8217654 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19238 | 16247534 |
| 8.00%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9398 | 9382634 |
| 10.88%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 34534 | 37010577 |
| Concentra Escrow Issuer Corp., 6.88%, <br> 07/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11819 | 12128386 |
| DaVita Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 22835 | 19858848 |
| 4.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 42980 | 39568192 |
| 6.88%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp; 15255 | 15334494 |
| Encompass Health Corp. |  |  |
| 4.50%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 12535 | 12192636 |
| 4.63%, 04/01/31 | &nbsp;&nbsp; 7016 | 6602973 |
| 4.75%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 12682 | 12197688 |
| Fortrea Holdings Inc., 7.50%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9535 | 9376310 |
| Global Medical Response Inc., 10.00%, <br> 10/31/28<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 8725 | 8724666 |
| HAH Group Holding Co. LLC, 9.75%, <br> 10/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11085 | 11294784 |
| HealthEquity Inc., 4.50%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10280 | 9796968 |
| Heartland Dental LLC/Heartland Dental Finance <br> Corp., 10.50%, 04/30/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11295 | 12019619 |
| IQVIA Inc. |  |  |
| 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 11781 | 11654821 |
| 5.00%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 15782 | 15579468 |
| 6.50%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7891 | 8105864 |
| Kedrion SpA, 6.50%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12350 | 11639875 |
| LifePoint Health Inc. |  |  |
| 4.38%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9474 | 9185238 |
| 5.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7730 | 7072929 |
| 9.88%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12124 | 13262212 |
| 10.00%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12630 | 13475717 |
| 11.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 16702 | 18617803 |
| ModivCare Inc., 5.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8089 | 5507487 |
| Molina Healthcare Inc. |  |  |
| 3.88%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10542 | 9545661 |
| 3.88%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 11883 | 10534356 |
| 4.38%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 14032 | 13463179 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| MPH Acquisition Holdings LLC |  |  |
| 5.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; $17745 | $12055690 |
| 5.75%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12182 | 5603720 |
| Pediatrix Medical Group Inc., 5.38%, <br> 02/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6650 | 6355898 |
| Prime Healthcare Services Inc., 9.38%, <br> 09/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 23308 | 23686872 |
| Quorum Health Corp., 11.63%, 04/15/23<sup>(h)</sup> | &nbsp;&nbsp; 1183 |  |
| Radiology Partners Inc. |  |  |
| 7.78%, 01/31/29, <br> (4.28% Cash and 3.50% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 11750 | 11573411 |
| 9.78%, 02/15/30, (9.78% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 11115 | 10448515 |
| Select Medical Corp., 6.25%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 11723 | 11747536 |
| Star Parent Inc., 9.00%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15025 | 15626034 |
| Surgery Center Holdings Inc., 7.25%, <br> 04/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14069 | 14446106 |
| Tenet Healthcare Corp. |  |  |
| 4.25%, 06/01/29 | &nbsp;&nbsp; 22089 | 20896714 |
| 4.38%, 01/15/30 | &nbsp;&nbsp; 24696 | 23153460 |
| 4.63%, 06/15/28 | &nbsp;&nbsp; 9521 | 9203651 |
| 5.13%, 11/01/27 | &nbsp;&nbsp; 21448 | 21266777 |
| 6.13%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 28618 | 28590765 |
| 6.13%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 32159 | 32309569 |
| 6.25%, 02/01/27<sup>(b)</sup> | &nbsp;&nbsp; 15294 | 15305750 |
| 6.75%, 05/15/31<sup>(b)</sup> | &nbsp;&nbsp; 21370 | 21846508 |
| 6.88%, 11/15/31<sup>(b)</sup> | &nbsp;&nbsp; 6058 | 6496581 |
| Toledo Hospital (The) |  |  |
| 4.98%, 11/15/45 | &nbsp;&nbsp; 1529 | 1152484 |
| 6.02%, 11/15/48 | &nbsp;&nbsp; 4075 | 3598673 |
| Series B, 5.33%, 11/15/28 | &nbsp;&nbsp; 4865 | 4739921 |
| U.S. Acute Care Solutions LLC, 9.75%, <br> 05/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13354 | 13620761 |
|  |  | 847612644 |
| **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** |
| Benteler International AG, Class A, 10.50%, <br> 05/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 8997 | 9301038 |
| Compass Group Diversified Holdings LLC |  |  |
| 5.00%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 3873 | 3556090 |
| 5.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 16685 | 16041820 |
| Icahn Enterprises LP/Icahn Enterprises <br> Finance Corp.<br>|  |  |
| 4.38%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 12040 | 10043722 |
| 5.25%, 05/15/27 | &nbsp;&nbsp; 23359 | 21761513 |
| 6.25%, 05/15/26 | &nbsp;&nbsp; 16958 | 16667766 |
| 9.00%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 10810 | 10439781 |
| 9.75%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 10599 | 10591024 |
| Stena International SA |  |  |
| 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 11875 | 12327865 |
| 7.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6699 | 7013558 |
|  |  | 117744177 |
| **Home Builders — 1.2%** | **Home Builders — 1.2%** | **Home Builders — 1.2%** |
| Adams Homes Inc., 9.25%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6744 | 7055762 |
| Ashton Woods USA LLC/Ashton Woods <br> Finance Co.<br>|  |  |
| 4.63%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5733 | 5358440 |
| 4.63%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6951 | 6401657 |
| 6.63%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5222 | 5220833 |
| Beazer Homes USA Inc. |  |  |
| 5.88%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6848 | 6813512 |
| 7.25%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5194 | 5279758 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Builders (continued)** | **Home Builders (continued)** | **Home Builders (continued)** |
| 7.50%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $4190 | $4307433 |
| Brookfield Residential Properties Inc./Brookfield <br> Residential U.S. LLC<br>|  |  |
| 4.88%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8255 | 7677356 |
| 5.00%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4291 | 4056567 |
| 6.25%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9753 | 9681635 |
| Century Communities Inc. |  |  |
| 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9604 | 8735831 |
| 6.75%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 4771 | 4796487 |
| Dream Finders Homes Inc., 8.25%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5214 | 5455282 |
| Empire Communities Corp., 9.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8161 | 8526801 |
| Forestar Group Inc. |  |  |
| 3.85%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5516 | 5375999 |
| 5.00%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5128 | 4907168 |
| Installed Building Products Inc., 5.75%, <br> 02/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4832 | 4796767 |
| K Hovnanian Enterprises Inc., 11.75%, <br> 09/30/29<sup>(a)</sup><br>| &nbsp;&nbsp; 1235 | 1362205 |
| KB Home |  |  |
| 4.00%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 6207 | 5611202 |
| 4.80%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 4789 | 4607419 |
| 6.88%, 06/15/27<sup>(b)</sup> | &nbsp;&nbsp; 4806 | 4964093 |
| 7.25%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp; 3672 | 3803715 |
| Landsea Homes Corp., 8.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5215 | 5320625 |
| LGI Homes Inc. |  |  |
| 4.00%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3924 | 3512869 |
| 8.75%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6644 | 6999401 |
| M/I Homes Inc. |  |  |
| 3.95%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 4596 | 4199459 |
| 4.95%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 7567 | 7331467 |
| Mattamy Group Corp. |  |  |
| 4.63%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10390 | 9735618 |
| 5.25%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8120 | 7997520 |
| New Home Co. Inc. (The), 9.25%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6730 | 7051539 |
| Shea Homes LP/Shea Homes Funding Corp. |  |  |
| 4.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6962 | 6641604 |
| 4.75%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 4604 | 4366510 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4601 | 4886791 |
| Taylor Morrison Communities Inc. |  |  |
| 5.13%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8857 | 8566011 |
| 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7786 | 7787085 |
| 5.88%, 06/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8728 | 8763732 |
| Thor Industries Inc., 4.00%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9602 | 8763547 |
| Tri Pointe Homes Inc. |  |  |
| 5.25%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 5099 | 5044887 |
| 5.70%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 7119 | 7073786 |
| Winnebago Industries Inc., 6.25%, <br> 07/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5973 | 5937424 |
|  |  | 244775797 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Tempur Sealy International Inc. |  |  |
| 3.88%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13228 | 11506562 |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13654 | 12581196 |
|  |  | 24087758 |
| **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** |
| 1011778 BC ULC/New Red Finance Inc., <br> 6.13%, 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 18571 | 18895213 |
| **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** |
| ACCO Brands Corp., 4.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10424 | 9563215 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Household Products & Wares (continued)** | **Household Products & Wares (continued)** | **Household Products & Wares (continued)** |
| Central Garden & Pet Co. |  |  |
| 4.13%, 10/15/30<sup>(b)</sup> | &nbsp;&nbsp; $8182 | $7411075 |
| 4.13%, 04/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6829 | 6127441 |
| 5.13%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 4985 | 4912722 |
| Kronos Acquisition Holdings Inc. |  |  |
| 8.25%, 06/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9070 | 8982171 |
| 10.75%, 06/30/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6992 | 6514627 |
|  |  | 43511251 |
| **Housewares — 0.5%** | **Housewares — 0.5%** | **Housewares — 0.5%** |
| CD&R Smokey Buyer, Inc./Radio Systems <br> Corp., 9.50%, 10/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11165 | 11309252 |
| Newell Brands Inc. |  |  |
| 5.70%, 04/01/26 | &nbsp;&nbsp; 24586 | 24640900 |
| 6.38%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 8701 | 8793553 |
| 6.63%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 9222 | 9350503 |
| 6.88%, 04/01/36<sup>(b)</sup> | &nbsp;&nbsp; 6710 | 6677379 |
| 7.00%, 04/01/46 | &nbsp;&nbsp; 10138 | 9408275 |
| Scotts Miracle-Gro Co. (The) |  |  |
| 4.00%, 04/01/31<sup>(b)</sup> | &nbsp;&nbsp; 7616 | 6818119 |
| 4.38%, 02/01/32<sup>(b)</sup> | &nbsp;&nbsp; 7019 | 6350784 |
| 4.50%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 6667 | 6297518 |
| 5.25%, 12/15/26<sup>(b)</sup> | &nbsp;&nbsp; 2531 | 2529008 |
| SWF Holdings I Corp., 6.50%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6344 | 4099812 |
|  |  | 96275103 |
| **Insurance — 2.6%** | **Insurance — 2.6%** | **Insurance — 2.6%** |
| Acrisure LLC/Acrisure Finance Inc. |  |  |
| 4.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10421 | 9799419 |
| 6.00%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7596 | 7188304 |
| 7.50%, 11/06/30<sup>(a)</sup> | &nbsp;&nbsp; 17139 | 17427569 |
| 8.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 14530 | 14766519 |
| 8.50%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7550 | 7758138 |
| Alliant Holdings Intermediate LLC/Alliant <br> Holdings Co-Issuer<br>|  |  |
| 4.25%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 11675 | 11072732 |
| 5.88%, 11/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6199 | 5855061 |
| 6.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 15610 | 15457064 |
| 6.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 21063 | 20984014 |
| 6.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 19184 | 19274357 |
| 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 22602 | 22754179 |
| 7.38%, 10/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10780 | 10686436 |
| AmWINS Group Inc. |  |  |
| 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 12494 | 11759348 |
| 6.38%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12593 | 12655147 |
| APH Somerset Investor 2 LLC/APH2 Somerset <br> Investor 2 LLC/APH3 Somerset Inves, <br> 7.88%, 11/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 11975 | 11963025 |
| Ardonagh Finco Ltd., 7.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12580 | 12896588 |
| Ardonagh Group Finance Ltd., 8.88%, <br> 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 16070 | 16416159 |
| Assurant Inc., 7.00%, 03/27/48, <br> (3-mo. LIBOR US + 4.135%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 6264 | 6369860 |
| AssuredPartners Inc. |  |  |
| 5.63%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8990 | 8506537 |
| 7.50%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8171 | 8228646 |
| Baldwin Insurance Group Holdings LLC/Baldwin <br> Insurance Group Holdings Finance, 7.13%, <br> 05/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 10753 | 10967092 |
| BroadStreet Partners Inc., 5.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12078 | 11502637 |
| Constellation Insurance Inc. |  |  |
| 6.63%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 3431 | 3346421 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| 6.80%, 01/24/30<sup>(a)(b)</sup> | &nbsp;&nbsp; $6327 | $6239107 |
| Genworth Holdings Inc., 6.50%, 06/15/34 | &nbsp;&nbsp; 3964 | 3926226 |
| Global Atlantic Fin Co. |  |  |
| 4.70%, 10/15/51, <br> (5-year CMT + 3.796%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 10857 | 10413936 |
| 7.95%, 10/15/54, <br> (5-year CMT + 3.608%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 8936 | 9271930 |
| Howden U.K. Refinance PLC/Howden U.K. <br> Refinance 2 PLC/Howden U.S. Refinance <br> LLC<br>|  |  |
| 7.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 16079 | 16367457 |
| 8.13%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8118 | 8212891 |
| HUB International Ltd. |  |  |
| 5.63%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8679 | 8404408 |
| 7.25%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 49135 | 50777239 |
| 7.38%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp; 28937 | 29518663 |
| Jones Deslauriers Insurance Management Inc. |  |  |
| 8.50%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12240 | 12945832 |
| 10.50%, 12/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6728 | 7247635 |
| Liberty Mutual Group Inc. |  |  |
| 4.13%, 12/15/51, <br> (5-year CMT + 3.315%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 7637 | 7206674 |
| 4.30%, 02/01/61<sup>(a)(b)</sup> | &nbsp;&nbsp; 12010 | 7886718 |
| 7.80%, 03/07/87<sup>(a)(b)</sup> | &nbsp;&nbsp; 6822 | 7572874 |
| Panther Escrow Issuer LLC, 7.13%, <br> 06/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 47185 | 48311799 |
| Ryan Specialty LLC |  |  |
| 4.38%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6385 | 6052683 |
| 5.88%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp; 9290 | 9258970 |
| USI Inc./New York, 7.50%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 10834 | 11053746 |
|  |  | 538304040 |
| **Internet — 1.5%** | **Internet — 1.5%** | **Internet — 1.5%** |
| Acuris Finance U.S. Inc./Acuris Finance SARL |  |  |
| 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5629 | 5080133 |
| 9.00%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 1930 | 1891786 |
| ANGI Group LLC, 3.88%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8851 | 8008269 |
| Arches Buyer Inc. |  |  |
| 4.25%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 15459 | 14175818 |
| 6.13%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7928 | 6977667 |
| Cablevision Lightpath LLC |  |  |
| 3.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7968 | 7568315 |
| 5.63%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7306 | 6782569 |
| Cars.com Inc., 6.38%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7765 | 7741010 |
| Cogent Communications Group Inc./Cogent <br> Communications Finance Inc., 7.00%, <br> 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 4935 | 4962582 |
| Cogent Communications Group LLC |  |  |
| 3.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 7328 | 7122809 |
| 7.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7187 | 7263259 |
| Gen Digital Inc. |  |  |
| 6.75%, 09/30/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 15523 | 15789608 |
| 7.13%, 09/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8731 | 9035808 |
| Getty Images Inc., 9.75%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5356 | 5338845 |
| Go Daddy Operating Co. LLC/GD Finance <br> Co. Inc.<br>|  |  |
| 3.50%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14807 | 13665253 |
| 5.25%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 6214 | 6141424 |
| GrubHub Holdings Inc., 5.50%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8437 | 7871440 |
| ION Trading Technologies SARL |  |  |
| 5.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6725 | 6096624 |
| 9.50%, 05/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9510 | 9664252 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| Match Group Holdings II LLC |  |  |
| 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $8387 | $7347999 |
| 4.13%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7567 | 6880653 |
| 4.63%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8351 | 8031818 |
| 5.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6176 | 6030010 |
| 5.63%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5947 | 5867659 |
| Millennium Escrow Corp., 6.63%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; 11346 | 7298208 |
| Newfold Digital Holdings Group Inc. |  |  |
| 6.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7706 | 5176417 |
| 11.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7935 | 7825754 |
| Rakuten Group Inc. |  |  |
| 5.13%, (5-year CMT + 4.578%)<sup>(a)(b)(d)(e)</sup> | &nbsp;&nbsp; 11877 | 11372228 |
| 6.25%, (5-year CMT + 4.956%)<sup>(a)(b)(d)(e)</sup> | &nbsp;&nbsp; 14765 | 13288500 |
| 9.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 30902 | 33420513 |
| 11.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 28610 | 31113375 |
| Shutterfly Finance LLC, 8.50%, 10/01/27, <br> (4.25% Cash and 4.25% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 10325 | 9137314 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5332 | 5395515 |
| Ziff Davis Inc., 4.63%, 10/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7661 | 7010292 |
|  |  | 316373726 |
| **Iron & Steel — 1.0%** | **Iron & Steel — 1.0%** | **Iron & Steel — 1.0%** |
| Algoma Steel Inc., 9.13%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6462 | 6612500 |
| ATI Inc. |  |  |
| 4.88%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 5802 | 5495691 |
| 5.13%, 10/01/31<sup>(b)</sup> | &nbsp;&nbsp; 6101 | 5759800 |
| 5.88%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 5432 | 5388051 |
| 7.25%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; 7240 | 7502747 |
| Baffinland Iron Mines Corp./Baffinland Iron <br> Mines LP, 8.75%, 07/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 9444 | 8548585 |
| Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(a)</sup><br>| &nbsp;&nbsp; 6629 | 6692234 |
| Carpenter Technology Corp. |  |  |
| 6.38%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 4847 | 4850747 |
| 7.63%, 03/15/30<sup>(b)</sup> | &nbsp;&nbsp; 4655 | 4810375 |
| Cleveland-Cliffs Inc. |  |  |
| 4.63%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5385 | 5045175 |
| 4.88%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5070 | 4678416 |
| 5.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 7041 | 7036423 |
| 6.75%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11875 | 11862839 |
| 6.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 11237 | 11280578 |
| 7.00%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 22580 | 22605525 |
| 7.38%, 05/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 8585 | 8648528 |
| Commercial Metals Co. |  |  |
| 3.88%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 4788 | 4298340 |
| 4.13%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 5000 | 4639899 |
| 4.38%, 03/15/32<sup>(b)</sup> | &nbsp;&nbsp; 4669 | 4295295 |
| Infrabuild Australia Pty. Ltd., 14.50%, <br> 11/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2700 | 2656494 |
| Mineral Resources Ltd. |  |  |
| 8.00%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 10087 | 10343159 |
| 8.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 6833 | 6881685 |
| 8.50%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11096 | 11412366 |
| 9.25%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 17385 | 18302523 |
| TMS International Corp./DE, 6.25%, <br> 04/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5988 | 5793273 |
| U.S. Steel Corp. |  |  |
| 6.65%, 06/01/37<sup>(b)</sup> | &nbsp;&nbsp; 3337 | 3386735 |
| 6.88%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 9209 | 9267938 |
|  |  | 208095921 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Leisure Time — 2.4%** | **Leisure Time — 2.4%** | **Leisure Time — 2.4%** |
| Acushnet Co., 7.38%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; $6346 | $6617495 |
| Amer Sports Co., 6.75%, 02/16/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14148 | 14372840 |
| Carnival Corp. |  |  |
| 5.75%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 43319 | 43448740 |
| 6.00%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 31528 | 31579568 |
| 7.63%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 13195 | 13287273 |
| 10.50%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 11079 | 11953344 |
| Carnival Holdings Bermuda Ltd., 10.38%, <br> 05/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 20765 | 22291497 |
| Life Time Inc. |  |  |
| 5.75%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 9264 | 9258906 |
| 6.00%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 7720 | 7687220 |
| 8.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4962 | 4986356 |
| Lindblad Expeditions Holdings Inc., 9.00%, <br> 05/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5310 | 5527986 |
| Lindblad Expeditions LLC, 6.75%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5240 | 5264775 |
| MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9405 | 9017854 |
| NCL Corp. Ltd. |  |  |
| 5.88%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 17487 | 17467871 |
| 5.88%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 16716 | 16698667 |
| 6.25%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5735 | 5672497 |
| 7.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9760 | 10353232 |
| 8.13%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12742 | 13508763 |
| 8.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8142 | 8528932 |
| NCL Finance Ltd., 6.13%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8719 | 8772378 |
| Royal Caribbean Cruises Ltd. |  |  |
| 3.70%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 7408 | 7059168 |
| 4.25%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; 10316 | 10119420 |
| 5.38%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 16186 | 16156316 |
| 5.50%, 08/31/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 15495 | 15512447 |
| 5.50%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 24275 | 24273325 |
| 5.63%, 09/30/31<sup>(a)</sup> | &nbsp;&nbsp; 20480 | 20396338 |
| 6.00%, 02/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 30125 | 30309974 |
| 6.25%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 19645 | 20028490 |
| 7.50%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3926 | 4161061 |
| Sabre GLBL Inc. |  |  |
| 8.63%, 06/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 14219 | 13725030 |
| 11.25%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9100 | 9375018 |
| Viking Cruises Ltd. |  |  |
| 5.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 13277 | 13191123 |
| 7.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9090 | 9161084 |
| 9.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 11801 | 12744809 |
| Viking Ocean Cruises Ship VII Ltd., 5.63%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5608 | 5530439 |
| Vista Outdoor Inc., 4.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4435 | 4513029 |
| VOC Escrow Ltd., 5.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11226 | 10912940 |
|  |  | 493466205 |
| **Lodging — 1.6%** | **Lodging — 1.6%** | **Lodging — 1.6%** |
| Boyd Gaming Corp. |  |  |
| 4.75%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 13543 | 13288248 |
| 4.75%, 06/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 15184 | 14171069 |
| Full House Resorts Inc., 8.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7750 | 7735948 |
| Genting New York LLC/GENNY Capital Inc., <br> 7.25%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 10085 | 10236023 |
| Hilton Domestic Operating Co. Inc. |  |  |
| 3.63%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 23889 | 20968515 |
| 3.75%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12521 | 11649830 |
| 4.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 17067 | 15546549 |
| 4.88%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 15141 | 14670811 |
| 5.75%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4634 | 4644649 |
| 5.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8247 | 8369017 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| 5.88%, 03/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; $15875 | $15908210 |
| 6.13%, 04/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7220 | 7292106 |
| Hilton Grand Vacations Borrower <br> Escrow LLC/Hilton Grand Vacations <br> Borrower Esc<br>|  |  |
| 4.88%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 8164 | 7295580 |
| 5.00%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14141 | 13234165 |
| 6.63%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 13390 | 13393294 |
| Hilton Worldwide Finance LLC/Hilton Worldwide <br> Finance Corp., 4.88%, 04/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 6187 | 6140460 |
| Marriott Ownership Resorts Inc. |  |  |
| 4.50%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8737 | 8105787 |
| 4.75%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6391 | 6107695 |
| MGM Resorts International |  |  |
| 4.63%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 5939 | 5885514 |
| 4.75%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 10868 | 10505682 |
| 5.50%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 10729 | 10706104 |
| 6.13%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 12945 | 12899237 |
| 6.50%, 04/15/32<sup>(b)</sup> | &nbsp;&nbsp; 11069 | 11070063 |
| Station Casinos LLC |  |  |
| 4.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10785 | 10293418 |
| 4.63%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 8604 | 7818322 |
| 6.63%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8156 | 8196046 |
| Travel & Leisure Co. |  |  |
| 4.50%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9930 | 9274080 |
| 4.63%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5746 | 5357067 |
| 6.00%, 04/01/27 | &nbsp;&nbsp; 6871 | 6934914 |
| 6.60%, 10/01/25 | &nbsp;&nbsp; 2313 | 2330384 |
| 6.63%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp; 10662 | 10752094 |
| Wyndham Hotels & Resorts Inc., 4.38%, <br> 08/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9298 | 8849567 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital <br> Corp., 5.25%, 05/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15484 | 15368232 |
|  |  | 334998680 |
| **Machinery — 0.9%** | **Machinery — 0.9%** | **Machinery — 0.9%** |
| ATS Corp., 4.13%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5224 | 4897335 |
| BWX Technologies Inc. |  |  |
| 4.13%, 06/30/28<sup>(a)</sup> | &nbsp;&nbsp; 6821 | 6509419 |
| 4.13%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6821 | 6461457 |
| Chart Industries Inc. |  |  |
| 7.50%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp; 24446 | 25425820 |
| 9.50%, 01/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8690 | 9342080 |
| Esab Corp., 6.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12438 | 12657015 |
| GrafTech Finance Inc., 4.63%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5243 | 3709923 |
| GrafTech Global Enterprises Inc., 9.88%, <br> 12/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4675 | 3920970 |
| Husky Injection Molding Systems Ltd./Titan <br> Co-Borrower LLC, 9.00%, 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 16855 | 17341424 |
| Manitowoc Co. Inc. (The), 9.25%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 4920 | 4995768 |
| Maxim Crane Works Holdings Capital LLC, <br> 11.50%, 09/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8843 | 9489414 |
| Mueller Water Products Inc., 4.00%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8578 | 7986320 |
| OT Merger Corp., 7.88%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4352 | 1893120 |
| SPX FLOW Inc., 8.75%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9291 | 9658580 |
| Terex Corp. |  |  |
| 5.00%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10064 | 9673877 |
| 6.25%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 11350 | 11297341 |
| TK Elevator Holdco GmbH, 7.63%, <br> 07/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6459 | 6488143 |
| TK Elevator U.S. Newco Inc., 5.25%, <br> 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 25976 | 25550695 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; $15189 | $14454704 |
|  |  | 191753405 |
| **Manufacturing — 0.4%** | **Manufacturing — 0.4%** | **Manufacturing — 0.4%** |
| Amsted Industries Inc. |  |  |
| 4.63%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 6698 | 6247925 |
| 5.63%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5981 | 5939576 |
| Calderys Financing II LLC, 11.75%, 06/01/28, <br> (11.75% cash and 12.50% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 4720 | 4772151 |
| Calderys Financing LLC, 11.25%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8603 | 9187780 |
| Enpro Inc., 5.75%, 10/15/26<sup>(b)</sup> | &nbsp;&nbsp; 6168 | 6138710 |
| FXI Holdings Inc. |  |  |
| 12.25%, 11/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 7871 | 7795683 |
| 12.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 12217 | 12152006 |
| Hillenbrand Inc. |  |  |
| 3.75%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 5091 | 4454815 |
| 5.00%, 09/15/26 | &nbsp;&nbsp; 5176 | 5126976 |
| 6.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 7950 | 7979996 |
| LSB Industries Inc., 6.25%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7974 | 7714251 |
| Trinity Industries Inc., 7.75%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10868 | 11236647 |
|  |  | 88746516 |
| **Media — 7.4%** | **Media — 7.4%** | **Media — 7.4%** |
| AMC Networks Inc. |  |  |
| 4.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 15408 | 10634568 |
| 10.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13905 | 14322150 |
| Beasley Mezzanine Holdings LLC, 9.20%, <br> 08/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1728 | 864000 |
| Block Communications Inc., 4.88%, <br> 03/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5018 | 4752553 |
| Cable One Inc., 4.00%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10654 | 8396846 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| 4.25%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 45724 | 39678693 |
| 4.25%, 01/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 31264 | 24977095 |
| 4.50%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 42563 | 38014671 |
| 4.50%, 05/01/32<sup>(b)</sup> | &nbsp;&nbsp; 43850 | 37307024 |
| 4.50%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; 26525 | 22058034 |
| 4.75%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 47019 | 42771750 |
| 4.75%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 18885 | 16327044 |
| 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 38595 | 37354517 |
| 5.13%, 05/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 51755 | 50676560 |
| 5.38%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 23086 | 22036753 |
| 5.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 10033 | 10000512 |
| 6.38%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 23497 | 23264932 |
| 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 17475 | 17771227 |
| CSC Holdings LLC |  |  |
| 3.38%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 14775 | 10599232 |
| 4.13%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 16783 | 12388064 |
| 4.50%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 25085 | 18388812 |
| 4.63%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 35600 | 17902606 |
| 5.00%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6705 | 3277035 |
| 5.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 15005 | 12842035 |
| 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 22323 | 19868062 |
| 5.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 34830 | 18346895 |
| 6.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 26587 | 22474225 |
| 7.50%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 15853 | 10411452 |
| 11.25%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 15025 | 14649659 |
| 11.75%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 31686 | 30910954 |
| Cumulus Media New Holdings Inc., 8.00%, <br> 07/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2980 | 1214045 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12423 | 12261487 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; $56143 | $54055985 |
| DISH DBS Corp. |  |  |
| 5.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 42545 | 39378057 |
| 5.75%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 35318 | 30857729 |
| 7.38%, 07/01/28 | &nbsp;&nbsp; 12004 | 8794900 |
| 7.75%, 07/01/26 | &nbsp;&nbsp; 25332 | 21428009 |
| 5.13%, 06/01/29 | &nbsp;&nbsp; 22118 | 14713500 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 45566 | 47963663 |
| GCI LLC, 4.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10815 | 10206884 |
| Gray Television Inc. |  |  |
| 4.75%, 10/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12665 | 7963347 |
| 5.38%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 19774 | 11924115 |
| 7.00%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 10771 | 10479665 |
| 10.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19781 | 20547119 |
| iHeartCommunications Inc. |  |  |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5295 | 3248377 |
| 5.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8073 | 5429986 |
| 6.38%, 05/01/26 | &nbsp;&nbsp; 8875 | 7509275 |
| 8.38%, 05/01/27 | &nbsp;&nbsp; 8060 | 4178693 |
| LCPR Senior Secured Financing DAC |  |  |
| 5.13%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12400 | 10418084 |
| 6.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 18281 | 17135140 |
| Liberty Interactive LLC |  |  |
| 8.25%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 4190 | 2146598 |
| 8.50%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 2777 | 1475462 |
| McGraw-Hill Education Inc. |  |  |
| 5.75%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 13485 | 13215899 |
| 7.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; 10865 | 11128780 |
| 8.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9392 | 9453779 |
| Midcontinent Communications, 8.00%, <br> 08/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11145 | 11343793 |
| News Corp. |  |  |
| 3.88%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 16941 | 15765386 |
| 5.13%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8871 | 8500999 |
| Nexstar Media Inc. |  |  |
| 4.75%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 14967 | 14070950 |
| 5.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 26713 | 26251023 |
| Paramount Global |  |  |
| 6.25%, 02/28/57, <br> (3-mo. LIBOR US + 3.899%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 10134 | 9096455 |
| 6.38%, 03/30/62, <br> (5-year CMT + 3.999%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 15528 | 14375944 |
| Radiate Holdco LLC/Radiate Finance Inc. |  |  |
| 4.50%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 9054 | 7867039 |
| 6.50%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8237 | 5672081 |
| Scripps Escrow II Inc. |  |  |
| 3.88%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8408 | 6524362 |
| 5.38%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 5180 | 3111804 |
| Scripps Escrow Inc., 5.88%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7160 | 6292924 |
| Sinclair Television Group Inc. |  |  |
| 4.13%, 12/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11474 | 8791953 |
| 5.13%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4219 | 3740903 |
| 5.50%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7549 | 5194316 |
| Sirius XM Radio Inc. |  |  |
| 3.13%, 09/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 15639 | 15001639 |
| 3.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 23696 | 20362769 |
| 4.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 30679 | 28662445 |
| 4.13%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 23106 | 20672064 |
| 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 22096 | 21653268 |
| 5.50%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19359 | 18780071 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Sunrise FinCo I BV, 4.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; $19256 | $17619240 |
| Sunrise HoldCo IV BV, 5.50%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7209 | 7130012 |
| TEGNA Inc. |  |  |
| 4.63%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 16962 | 15927644 |
| 4.75%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5096 | 5042728 |
| 5.00%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 18333 | 17114858 |
| Townsquare Media Inc., 6.88%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5584 | 5563054 |
| Univision Communications Inc. |  |  |
| 4.50%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16217 | 14396926 |
| 6.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 20815 | 20651798 |
| 7.38%, 06/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14587 | 14004237 |
| 8.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 22132 | 22491579 |
| 8.50%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp; 18535 | 18218786 |
| Urban One Inc., 7.38%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9178 | 6806992 |
| Virgin Media Finance PLC, 5.00%, <br> 07/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13833 | 11891599 |
| Virgin Media Secured Finance PLC |  |  |
| 4.50%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14103 | 12351280 |
| 5.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 22611 | 21384050 |
| Virgin Media Vendor Financing Notes IV DAC, <br> 5.00%, 07/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8139 | 7800832 |
| VZ Secured Financing BV, 5.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 23933 | 21484570 |
| Ziggo Bond Co. BV |  |  |
| 5.13%, 02/28/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8482 | 7677115 |
| 6.00%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8809 | 8788573 |
| Ziggo BV, 4.88%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15574 | 14440754 |
|  |  | 1532915353 |
| **Metal Fabricate & Hardware — 0.2%** | **Metal Fabricate & Hardware — 0.2%** | **Metal Fabricate & Hardware — 0.2%** |
| Advanced Drainage Systems Inc. |  |  |
| 5.00%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 5719 | 5615376 |
| 6.38%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9052 | 9124570 |
| Park-Ohio Industries Inc., 6.63%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5888 | 5744445 |
| Roller Bearing Co of America Inc., 4.38%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 9168 | 8614118 |
| Vallourec SACA, 7.50%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13940 | 14600240 |
|  |  | 43698749 |
| **Mining — 1.3%** | **Mining — 1.3%** | **Mining — 1.3%** |
| Alcoa Nederland Holding BV |  |  |
| 4.13%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8535 | 8026131 |
| 5.50%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9635 | 9563610 |
| 6.13%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6565 | 6576042 |
| 7.13%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12337 | 12863247 |
| Arsenal AIC Parent LLC |  |  |
| 8.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 12445 | 13081153 |
| 11.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 8094 | 9006510 |
| Century Aluminum Co., 7.50%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3042 | 3071453 |
| Coeur Mining Inc., 5.13%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5692 | 5427279 |
| Compass Minerals International Inc., 6.75%, <br> 12/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9462 | 9326623 |
| Constellium SE |  |  |
| 3.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8190 | 7411093 |
| 5.63%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5976 | 5831233 |
| 6.38%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 5505 | 5418852 |
| Eldorado Gold Corp., 6.25%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9421 | 9268744 |
| FMG Resources August 2006 Pty. Ltd. |  |  |
| 4.38%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; 23628 | 21509889 |
| 4.50%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9090 | 8849115 |
| FMG Resources August Pty. Ltd. |  |  |
| 5.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10524 | 10473603 |
| 6.13%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12318 | 12358662 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| Hecla Mining Co., 7.25%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; $8523 | $8624108 |
| Hudbay Minerals Inc. |  |  |
| 4.50%, 04/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 7549 | 7454745 |
| 6.13%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8353 | 8413376 |
| IAMGOLD Corp., 5.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7256 | 7074332 |
| JW Aluminum Continuous Cast Co., 10.25%, <br> 06/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 2504 | 2504000 |
| Kaiser Aluminum Corp. |  |  |
| 4.50%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9069 | 8095977 |
| 4.63%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9177 | 8743355 |
| New Gold Inc., 7.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4295 | 4363793 |
| Novelis Corp. |  |  |
| 3.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 12176 | 11714757 |
| 3.88%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 11765 | 10332257 |
| 4.75%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; 25338 | 23738217 |
| Perenti Finance Pty Ltd., 7.50%, 04/26/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5523 | 5763068 |
| Taseko Mines Ltd., 8.25%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8978 | 9277345 |
|  |  | 274162569 |
| **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** |
| Pitney Bowes Inc. |  |  |
| 6.88%, 03/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6836 | 6763185 |
| 7.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6198 | 6079777 |
| Xerox Corp. |  |  |
| 4.80%, 03/01/35<sup>(b)</sup> | &nbsp;&nbsp; 3662 | 2172924 |
| 6.75%, 12/15/39<sup>(b)</sup> | &nbsp;&nbsp; 4851 | 3270314 |
| Xerox Holdings Corp. |  |  |
| 5.50%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11721 | 9611935 |
| 8.88%, 11/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7572 | 6591276 |
| Zebra Technologies Corp., 6.50%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9220 | 9433130 |
|  |  | 43922541 |
| **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** |
| Interface Inc., 5.50%, 12/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4745 | 4645308 |
| Steelcase Inc., 5.13%, 01/18/29<sup>(b)</sup> | &nbsp;&nbsp; 7150 | 6889434 |
|  |  | 11534742 |
| **Oil & Gas — 5.7%** | **Oil & Gas — 5.7%** | **Oil & Gas — 5.7%** |
| Aethon United BR LP/Aethon United Finance <br> Corp., 7.50%, 10/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 15325 | 15431249 |
| Antero Resources Corp. |  |  |
| 5.38%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10927 | 10610839 |
| 7.63%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3897 | 3996514 |
| Ascent Resources Utica Holdings LLC/ARU <br> Finance Corp.<br>|  |  |
| 5.88%, 06/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7903 | 7634616 |
| 6.63%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9045 | 8959268 |
| 8.25%, 12/31/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8606 | 8781224 |
| 9.00%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1969 | 2336935 |
| Baytex Energy Corp. |  |  |
| 7.38%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9369 | 9095637 |
| 8.50%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; 13239 | 13470960 |
| Berry Petroleum Co. LLC, 7.00%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4625 | 4508386 |
| Borr IHC Ltd./Borr Finance LLC |  |  |
| 10.00%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 19080 | 19511932 |
| 10.38%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8491 | 8762210 |
| California Resources Corp. |  |  |
| 7.13%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1659 | 1664408 |
| 8.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13865 | 14002693 |
| Calumet Specialty Products <br> Partners LP/Calumet Finance Corp.<br>|  |  |
| 8.13%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5413 | 5435431 |
| 9.75%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5562 | 5714343 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Chord Energy Corp., 6.38%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; $4515 | $4524676 |
| CITGO Petroleum Corp. |  |  |
| 6.38%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5933 | 5933552 |
| 7.00%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 8835 | 8837703 |
| 8.38%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11593 | 12059236 |
| Civitas Resources Inc. |  |  |
| 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6961 | 6836704 |
| 8.38%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 20578 | 21266746 |
| 8.63%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp; 15070 | 15832045 |
| 8.75%, 07/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 20554 | 21527437 |
| CNX Resources Corp. |  |  |
| 6.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8188 | 8118365 |
| 7.25%, 03/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6325 | 6517204 |
| 7.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8331 | 8563751 |
| Comstock Resources Inc. |  |  |
| 5.88%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15013 | 13716835 |
| 6.75%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 25740 | 24645841 |
| Crescent Energy Finance LLC |  |  |
| 7.38%, 01/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 15937 | 15458407 |
| 7.63%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 11007 | 10867830 |
| 9.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 14967 | 15706055 |
| CVR Energy Inc. |  |  |
| 5.75%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6406 | 5841647 |
| 8.50%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9767 | 9471151 |
| Diamond Foreign Asset Co./Diamond <br> Finance LLC, 8.50%, 10/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 9527 | 9837371 |
| Encino Acquisition Partners Holdings LLC |  |  |
| 8.50%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10654 | 10712565 |
| 8.75%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8383 | 8605099 |
| Energean PLC, 6.50%, 04/30/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5935 | 5897609 |
| EnQuest PLC, 11.63%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5668 | 5730144 |
| Expand Energy Corp. |  |  |
| 5.38%, 03/15/30 | &nbsp;&nbsp; 5916 | 5817677 |
| 6.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5478 | 5537823 |
| Global Marine Inc., 7.00%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 3707 | 3492721 |
| Gulfport Energy Operating Corp., 6.75%, <br> 09/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10755 | 10810614 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| 5.75%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9457 | 9074337 |
| 6.00%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7822 | 7460671 |
| 6.00%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 9585 | 9062201 |
| 6.25%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9781 | 9543151 |
| 6.25%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8033 | 7537677 |
| 6.88%, 05/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 7857 | 7520857 |
| 7.25%, 02/15/35<sup>(a)</sup> | &nbsp;&nbsp; 14295 | 14022757 |
| 8.38%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp; 9460 | 9890584 |
| Ithaca Energy North Sea PLC, 8.13%, <br> 10/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11025 | 11027780 |
| Karoon USA Finance Inc., 10.50%, <br> 05/14/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5040 | 5198392 |
| Kraken Oil & Gas Partners LLC, 7.63%, <br> 08/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8530 | 8427438 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil <br> & Gas Finance Corp., 6.00%, 08/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7307 | 7293055 |
| Matador Resources Co. |  |  |
| 6.25%, 04/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 11910 | 11655470 |
| 6.50%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 14287 | 14149358 |
| 6.88%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9215 | 9381570 |
| MEG Energy Corp., 5.88%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10579 | 10371545 |
| Moss Creek Resources Holdings Inc., 8.25%, <br> 09/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11966 | 11724242 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Murphy Oil Corp. |  |  |
| 5.88%, 12/01/42<sup>(b)</sup> | &nbsp;&nbsp; $4926 | $4324516 |
| 6.00%, 10/01/32<sup>(b)</sup> | &nbsp;&nbsp; 9210 | 8864703 |
| Nabors Industries Inc. |  |  |
| 7.38%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 11140 | 11148255 |
| 8.88%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8980 | 8489906 |
| 9.13%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10301 | 10637874 |
| Nabors Industries Ltd., 7.50%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5907 | 5619433 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 21234 | 21523675 |
| Northern Oil & Gas Inc. |  |  |
| 8.13%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 12224 | 12342634 |
| 8.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8650 | 8949316 |
| Parkland Corp. |  |  |
| 4.50%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12996 | 12073105 |
| 4.63%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12486 | 11476286 |
| 5.88%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8230 | 8143959 |
| 6.63%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7970 | 7953323 |
| PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| 6.00%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 13588 | 13188344 |
| 7.88%, 09/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8260 | 8245887 |
| Permian Resources Operating LLC |  |  |
| 5.38%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2284 | 2272985 |
| 5.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10802 | 10648672 |
| 6.25%, 02/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 16345 | 16227229 |
| 7.00%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 15590 | 15903250 |
| 8.00%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9434 | 9695784 |
| 9.88%, 07/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8256 | 9122585 |
| Precision Drilling Corp., 6.88%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8165 | 8123653 |
| Range Resources Corp. |  |  |
| 4.75%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9997 | 9412083 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 6164 | 6350720 |
| Seadrill Finance Ltd., 8.38%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 9980 | 10191446 |
| Sitio Royalties Operating Partnership LP/Sitio <br> Finance Corp., 7.88%, 11/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 10699 | 11106506 |
| SM Energy Co. |  |  |
| 6.50%, 07/15/28 | &nbsp;&nbsp; 7416 | 7395068 |
| 6.63%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6355 | 6353763 |
| 6.75%, 09/15/26<sup>(b)</sup> | &nbsp;&nbsp; 4822 | 4832117 |
| 6.75%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 12062 | 11987646 |
| 7.00%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12305 | 12205229 |
| Strathcona Resources Ltd., 6.88%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; 9114 | 9045938 |
| Sunoco LP |  |  |
| 7.00%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 11835 | 12208737 |
| 7.25%, 05/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 11796 | 12279943 |
| Sunoco LP/Sunoco Finance Corp. |  |  |
| 4.50%, 05/15/29<sup>(b)</sup> | &nbsp;&nbsp; 12604 | 11983814 |
| 4.50%, 04/30/30<sup>(b)</sup> | &nbsp;&nbsp; 12415 | 11651166 |
| 5.88%, 03/15/28 | &nbsp;&nbsp; 7360 | 7343077 |
| 6.00%, 04/15/27 | &nbsp;&nbsp; 5448 | 5453709 |
| 7.00%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9010 | 9260307 |
| Talos Production Inc. |  |  |
| 9.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10165 | 10469249 |
| 9.38%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10030 | 10326848 |
| Teine Energy Ltd., 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7102 | 6985105 |
| TGNR Intermediate Holdings LLC, 5.50%, <br> 10/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11673 | 11020037 |
| Transocean Aquila Ltd., 8.00%, 09/30/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4327 | 4441739 |
| Transocean Inc. |  |  |
| 6.80%, 03/15/38<sup>(b)</sup> | &nbsp;&nbsp; 9368 | 7772446 |
| 7.50%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp; 6696 | 6246923 |
| 8.00%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9752 | 9723817 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| 8.25%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $14240 | $14305618 |
| 8.50%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13875 | 13981512 |
| 8.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 14890 | 15427838 |
| Transocean Poseidon Ltd., 6.88%, <br> 02/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4557 | 4554472 |
| Transocean Titan Financing Ltd., 8.38%, <br> 02/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 8036 | 8268224 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 16263 | 16500439 |
| Vermilion Energy Inc., 6.88%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7690 | 7599226 |
| Viper Energy Inc. |  |  |
| 5.38%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5860 | 5793425 |
| 7.38%, 11/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5884 | 6113935 |
| Vital Energy Inc. |  |  |
| 7.75%, 07/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4949 | 4856304 |
| 7.88%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 16103 | 15475262 |
| 9.75%, 10/15/30<sup>(b)</sup> | &nbsp;&nbsp; 4305 | 4542244 |
| W&T Offshore Inc., 11.75%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2970 | 2981751 |
| Wildfire Intermediate Holdings LLC, 7.50%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 8710 | 8447510 |
|  |  | 1165295105 |
| **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** |
| Archrock Partners LP/Archrock Partners <br> Finance Corp.<br>|  |  |
| 6.25%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 14402 | 14428673 |
| 6.63%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp; 12070 | 12124568 |
| 6.88%, 04/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 1807 | 1812405 |
| Bristow Group Inc., 6.88%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7164 | 7114591 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8256 | 8570157 |
| Helix Energy Solutions Group Inc., 9.75%, <br> 03/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5672 | 6049449 |
| Kodiak Gas Services LLC, 7.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13246 | 13615802 |
| Oceaneering International Inc., 6.00%, <br> 02/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 3937 | 3868230 |
| Solaris Midstream Holdings LLC, 7.63%, <br> 04/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4650 | 4674770 |
| Star Holding LLC, 8.75%, 08/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5960 | 5668020 |
| USA Compression Partners LP/USA <br> Compression Finance Corp.<br>|  |  |
| 6.88%, 09/01/27 | &nbsp;&nbsp; 8350 | 8389763 |
| 7.13%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 17021 | 17335769 |
| Viridien, 8.75%, 04/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7913 | 7647404 |
| Weatherford International Ltd., 8.63%, <br> 04/30/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 26315 | 27201824 |
| Welltec International ApS, 8.25%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2447 | 2495517 |
|  |  | 140996942 |
| **Packaging & Containers — 2.5%** | **Packaging & Containers — 2.5%** | **Packaging & Containers — 2.5%** |
| ARD Finance SA, 6.50%, 06/30/27, <br> (7.25% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 7980 | 1685775 |
| Ardagh Metal Packaging Finance <br> USA LLC/Ardagh Metal Packaging <br> Finance PLC<br>|  |  |
| 3.25%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10192 | 9183564 |
| 4.00%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16685 | 14635696 |
| 6.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10879 | 10848202 |
| Ardagh Packaging Finance PLC/Ardagh <br> Holdings USA Inc.<br>|  |  |
| 4.13%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 10911 | 9492570 |
| 5.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 16363 | 9817800 |
| Ball Corp. |  |  |
| 2.88%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; 21767 | 18944094 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| 3.13%, 09/15/31<sup>(b)</sup> | &nbsp;&nbsp; $14413 | $12456042 |
| 4.88%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 300 | 298368 |
| 6.00%, 06/15/29 | &nbsp;&nbsp; 15079 | 15315017 |
| 6.88%, 03/15/28 | &nbsp;&nbsp; 8280 | 8511078 |
| Berry Global Inc. |  |  |
| 4.50%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3372 | 3326759 |
| 5.63%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5228 | 5219199 |
| Cascades Inc./Cascades USA Inc., 5.38%, <br> 01/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8420 | 8283513 |
| Clearwater Paper Corp., 4.75%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5246 | 4872648 |
| Clydesdale Acquisition Holdings Inc. |  |  |
| 6.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8140 | 8178331 |
| 6.88%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7320 | 7426616 |
| 8.75%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 17899 | 18176435 |
| Crown Americas LLC, 5.25%, 04/01/30 | &nbsp;&nbsp; 9905 | 9742106 |
| Crown Americas LLC/Crown Americas Capital <br> Corp. V, 4.25%, 09/30/26<br>| &nbsp;&nbsp; 7841 | 7676002 |
| Crown Americas LLC/Crown Americas Capital <br> Corp. VI, 4.75%, 02/01/26<br>| &nbsp;&nbsp; 8025 | 7966061 |
| Crown Cork & Seal Co. Inc., 7.38%, 12/15/26<sup>(b)</sup> | &nbsp;&nbsp; 5387 | 5593990 |
| Graham Packaging Co. Inc., 7.13%, <br> 08/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8674 | 8437843 |
| Graphic Packaging International LLC |  |  |
| 3.50%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6267 | 5850405 |
| 3.50%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4790 | 4371493 |
| 3.75%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6915 | 6324067 |
| 4.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5271 | 5167283 |
| 6.38%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7185 | 7249133 |
| Intelligent Packaging Ltd. Finco Inc./Intelligent <br> Packaging Ltd. Co-Issuer LLC, 6.00%, <br> 09/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12368 | 12192154 |
| Iris Holdings Inc., 10.00%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6392 | 5609292 |
| LABL Inc. |  |  |
| 5.88%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6786 | 6300375 |
| 8.25%, 11/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7384 | 6504786 |
| 8.63%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 14370 | 13850036 |
| 9.50%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 3815 | 3909173 |
| 10.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 11572 | 11456346 |
| Mauser Packaging Solutions Holding Co. |  |  |
| 7.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 41745 | 42892988 |
| 9.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 20745 | 21215206 |
| OI European Group BV, 4.75%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7878 | 7137084 |
| Owens-Brockway Glass Container Inc. |  |  |
| 6.63%, 05/13/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7083 | 7047966 |
| 7.25%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 11202 | 11017447 |
| 7.38%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 4978 | 4870498 |
| Pactiv Evergreen Group Issuer Inc./Pactiv <br> Evergreen Group Issuer LLC, 4.00%, <br> 10/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 16206 | 15477393 |
| Pactiv Evergreen Group Issuer LLC/Pactiv <br> Evergreen Group Issuer Inc., 4.38%, <br> 10/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8955 | 8422140 |
| Sealed Air Corp. |  |  |
| 4.00%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 6913 | 6616488 |
| 5.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7178 | 6933729 |
| 6.50%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6560 | 6658485 |
| 6.88%, 07/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 7236 | 7665283 |
| Sealed Air Corp./Sealed Air Corp. U.S. |  |  |
| 6.13%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8025 | 8110282 |
| 7.25%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7002 | 7269679 |
| Silgan Holdings Inc., 4.13%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 10456 | 9981713 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| Trident TPI Holdings Inc., 12.75%, 12/31/28<sup>(a)</sup> | &nbsp;&nbsp; $11023 | $12094910 |
| TriMas Corp., 4.13%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6763 | 6311012 |
| Trivium Packaging Finance BV |  |  |
| 5.50%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 17575 | 17420630 |
| 8.50%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 11545 | 11510509 |
|  |  | 513525694 |
| **Pharmaceuticals — 1.9%** | **Pharmaceuticals — 1.9%** | **Pharmaceuticals — 1.9%** |
| 180 Medical Inc., 3.88%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9792 | 9107220 |
| AdaptHealth LLC |  |  |
| 4.63%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8055 | 7325527 |
| 5.13%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10088 | 9241683 |
| 6.13%, 08/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6074 | 5983434 |
| Bausch Health Americas Inc. |  |  |
| 8.50%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 10045 | 8061113 |
| 9.25%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 7942 | 7686744 |
| Bausch Health Companies Inc. |  |  |
| 4.88%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 24588 | 18999394 |
| 5.00%, 01/30/28<sup>(a)</sup> | &nbsp;&nbsp; 5301 | 3392640 |
| 5.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6825 | 3924375 |
| 5.25%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; 12195 | 6708405 |
| 5.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6985 | 3771900 |
| 5.50%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 18384 | 18041690 |
| 5.75%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7706 | 6359993 |
| 6.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 16054 | 14491143 |
| 6.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12670 | 7856382 |
| 7.25%, 05/30/29<sup>(a)</sup> | &nbsp;&nbsp; 3320 | 2091600 |
| 9.00%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 7674 | 7524664 |
| 11.00%, 09/30/28<sup>(a)</sup> | &nbsp;&nbsp; 28060 | 25819690 |
| 14.00%, 10/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7801 | 6936493 |
| BellRing Brands Inc., 7.00%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 14765 | 15365847 |
| Cheplapharm Arzneimittel GmbH, 5.50%, <br> 01/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9258 | 8929444 |
| Elanco Animal Health Inc., 6.65%, 08/28/28<sup>(b)</sup> | &nbsp;&nbsp; 13372 | 13694439 |
| Endo Finance Holdings Inc., 8.50%, <br> 04/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 17067 | 18248414 |
| Grifols SA, 4.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10672 | 9834086 |
| HLF Financing SARL LLC/Herbalife <br> International Inc.<br>|  |  |
| 4.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9385 | 6432491 |
| 12.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12627 | 12700919 |
| Jazz Securities DAC, 4.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 25093 | 23745330 |
| Mallinckrodt International <br> Finance SA/Mallinckrodt CB LLC, 14.75%, <br> 11/14/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10927 | 11935770 |
| Option Care Health Inc., 4.38%, 10/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9556 | 8796162 |
| Organon & Co./Organon Foreign Debt <br> Co-Issuer BV<br>|  |  |
| 4.13%, 04/30/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 32754 | 31034798 |
| 5.13%, 04/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 30747 | 28041476 |
| 6.75%, 05/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 7322 | 7335897 |
| 7.88%, 05/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 7707 | 7955505 |
| Owens & Minor Inc. |  |  |
| 4.50%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8114 | 7301514 |
| 6.63%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8242 | 7866679 |
| P&L Development LLC/PLD Finance Corp. |  |  |
| 7.75%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1469 | 1476345 |
| 12.00%, 12/02/24, 9.00% Cash and 3.50% <br> PIK or 12.00% Cash<sup>(a)</sup><br>| &nbsp;&nbsp; 4830 | 4861115 |
|  |  | 398880321 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines — 4.9%** | **Pipelines — 4.9%** | **Pipelines — 4.9%** |
| Antero Midstream Partners LP/Antero <br> Midstream Finance Corp.<br>|  |  |
| 5.38%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; $12545 | $12218297 |
| 5.75%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9296 | 9278627 |
| 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10534 | 10476877 |
| 6.63%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 9819 | 9928069 |
| Blue Racer Midstream LLC/Blue Racer <br> Finance Corp.<br>|  |  |
| 6.63%, 07/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4394 | 4390307 |
| 7.00%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8607 | 8829594 |
| 7.25%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8131 | 8399380 |
| Buckeye Partners LP |  |  |
| 3.95%, 12/01/26 | &nbsp;&nbsp; 11006 | 10581230 |
| 4.13%, 12/01/27 | &nbsp;&nbsp; 5943 | 5681529 |
| 4.50%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7709 | 7342497 |
| 5.60%, 10/15/44<sup>(b)</sup> | &nbsp;&nbsp; 4083 | 3463936 |
| 5.85%, 11/15/43 | &nbsp;&nbsp; 5809 | 5021205 |
| 6.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9215 | 9366522 |
| CNX Midstream Partners LP, 4.75%, <br> 04/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 6295 | 5859507 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC |  |  |
| 5.50%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 22648 | 21551767 |
| 7.50%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp; 940 | 994538 |
| Delek Logistics Partners LP/Delek Logistics <br> Finance Corp.<br>|  |  |
| 7.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7035 | 6969185 |
| 8.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 16864 | 17303155 |
| DT Midstream Inc. |  |  |
| 4.13%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 17846 | 16758431 |
| 4.38%, 06/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 17055 | 15689190 |
| Energy Transfer LP |  |  |
| 7.13%, 10/01/54, <br> (5-year CMT + 2.829%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 5920 | 5982947 |
| 8.00%, 05/15/54, (5-year CMT + 4.020%)<sup>(d)</sup> | &nbsp;&nbsp; 12343 | 13078581 |
| EQM Midstream Partners LP |  |  |
| 4.13%, 12/01/26 | &nbsp;&nbsp; 6129 | 5996547 |
| 4.50%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12462 | 11996391 |
| 4.75%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 17180 | 16331599 |
| 5.50%, 07/15/28 | &nbsp;&nbsp; 13524 | 13423020 |
| 6.38%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9232 | 9375696 |
| 6.50%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 13730 | 14044074 |
| 6.50%, 07/15/48 | &nbsp;&nbsp; 8146 | 8197654 |
| 7.50%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 9685 | 9902467 |
| 7.50%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8073 | 8681809 |
| FTAI Infra Escrow Holdings LLC, 10.50%, <br> 06/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10593 | 11308165 |
| Genesis Energy LP/Genesis Energy <br> Finance Corp.<br>|  |  |
| 7.75%, 02/01/28 | &nbsp;&nbsp; 11541 | 11657437 |
| 7.88%, 05/15/32<sup>(b)</sup> | &nbsp;&nbsp; 10645 | 10637597 |
| 8.00%, 01/15/27 | &nbsp;&nbsp; 15255 | 15525975 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 8848 | 9036507 |
| 8.88%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 7257 | 7475218 |
| Global Partners LP/GLP Finance Corp. |  |  |
| 6.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 6751 | 6738660 |
| 7.00%, 08/01/27<sup>(b)</sup> | &nbsp;&nbsp; 3612 | 3623230 |
| 8.25%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7335 | 7485118 |
| Harvest Midstream I LP |  |  |
| 7.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11915 | 12053160 |
| 7.50%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7247 | 7420022 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Hess Midstream Operations LP |  |  |
| 4.25%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; $12468 | $11641980 |
| 5.13%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9401 | 9199452 |
| 5.50%, 10/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7230 | 7064273 |
| 5.63%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6881 | 6864454 |
| 6.50%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10113 | 10280815 |
| Howard Midstream Energy Partners LLC |  |  |
| 7.38%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9185 | 9370803 |
| 8.88%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8150 | 8598772 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 19609 | 18120538 |
| Kinetik Holdings LP |  |  |
| 5.88%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 16042 | 15918502 |
| 6.63%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 14079 | 14379573 |
| Martin Midstream Partners LP/Martin Midstream <br> Finance Corp., 11.50%, 02/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6863 | 7476772 |
| New Fortress Energy Inc. |  |  |
| 6.50%, 09/30/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 19864 | 18400473 |
| 6.75%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 8020 | 8004658 |
| 8.75%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10775 | 8994968 |
| NGL Energy Operating LLC/NGL Energy <br> Finance Corp.<br>|  |  |
| 8.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 14570 | 14664077 |
| 8.38%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 20423 | 20583157 |
| Northriver Midstream Finance LP, 6.75%, <br> 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 10960 | 11247603 |
| NuStar Logistics LP |  |  |
| 5.63%, 04/28/27<sup>(b)</sup> | &nbsp;&nbsp; 9609 | 9534308 |
| 6.00%, 06/01/26 | &nbsp;&nbsp; 9002 | 9009058 |
| 6.38%, 10/01/30<sup>(b)</sup> | &nbsp;&nbsp; 8190 | 8282432 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7057 | 7154648 |
| Rockies Express Pipeline LLC |  |  |
| 4.80%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5981 | 5531319 |
| 4.95%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9484 | 8909051 |
| 6.88%, 04/15/40<sup>(a)(b)</sup> | &nbsp;&nbsp; 7423 | 7037980 |
| 7.50%, 07/15/38<sup>(a)</sup> | &nbsp;&nbsp; 4018 | 4078636 |
| South Bow Canadian Infrastructure <br> Holdings Ltd.<br>|  |  |
| 7.50%, 03/01/55, <br> (5-year CMT + 3.667%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 10220 | 10613858 |
| 7.63%, 03/01/55, <br> (5-year CMT + 3.949%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 7585 | 7810176 |
| Summit Midstream Holdings LLC, 8.63%, <br> 10/31/29<sup>(a)</sup><br>| &nbsp;&nbsp; 10065 | 10398796 |
| Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp.<br>|  |  |
| 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11312 | 10863770 |
| 6.00%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 8252 | 8189345 |
| 6.00%, 12/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11843 | 11114832 |
| 6.00%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7635 | 7082284 |
| 7.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12342 | 12382642 |
| TransMontaigne Partners LP/TLP Finance <br> Corp., 6.13%, 02/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 3083 | 3032584 |
| Venture Global Calcasieu Pass LLC |  |  |
| 3.88%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp; 20479 | 17792423 |
| 6.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 15087 | 15421283 |
| 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 19839 | 18292465 |
| 4.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 19910 | 18146695 |
| Venture Global LNG Inc. |  |  |
| 7.00%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 23290 | 23433759 |
| 8.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 33861 | 35140370 |
| 8.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 35025 | 36379942 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 9.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; $46294 | $51168990 |
| 9.88%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 30640 | 33444387 |
|  |  | 1001132620 |
| **Real Estate — 0.7%** | **Real Estate — 0.7%** | **Real Estate — 0.7%** |
| Anywhere Real Estate Group LLC/Anywhere <br> Co-Issuer Corp., 7.00%, 04/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10269 | 8998303 |
| Anywhere Real Estate Group LLC/Realogy <br> Co-Issuer Corp.<br>|  |  |
| 5.25%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7035 | 5365160 |
| 5.75%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9082 | 7481193 |
| CoreLogic Inc., 4.50%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12211 | 11466359 |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| 6.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11470 | 11532041 |
| 8.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7090 | 7638830 |
| Five Point Operating Co. LP/Five Point Capital <br> Corp., 10.50%, 01/15/28<sup>(a)(b)(i)</sup><br>| &nbsp;&nbsp; 6731 | 6892528 |
| Greystar Real Estate Partners LLC, 7.75%, <br> 09/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 7029 | 7364881 |
| Howard Hughes Corp. (The) |  |  |
| 4.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9954 | 9166708 |
| 4.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 9782 | 8766098 |
| 5.38%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11206 | 10894254 |
| Hunt Companies Inc., 5.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11038 | 10463770 |
| Kennedy-Wilson Inc. |  |  |
| 4.75%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 10218 | 9367216 |
| 4.75%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 9107 | 8146054 |
| 5.00%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 8994 | 7943111 |
| Newmark Group Inc., 7.50%, 01/12/29 | &nbsp;&nbsp; 8865 | 9385608 |
|  |  | 140872114 |
| **Real Estate Investment Trusts — 3.3%** | **Real Estate Investment Trusts — 3.3%** | **Real Estate Investment Trusts — 3.3%** |
| Apollo Commercial Real Estate Finance Inc., <br> 4.63%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 8496 | 7368114 |
| Blackstone Mortgage Trust Inc., 3.75%, <br> 01/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4801 | 4489552 |
| Brandywine Operating Partnership LP |  |  |
| 3.95%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 7407 | 6931088 |
| 4.55%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 5625 | 5178202 |
| 8.30%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 5818 | 6112583 |
| 8.88%, 04/12/29<sup>(b)</sup> | &nbsp;&nbsp; 6485 | 7028080 |
| Brookfield Property REIT Inc./BPR <br> Cumulus LLC/BPR Nimbus LLC/GGSI <br> Sellco LLC<br>|  |  |
| 4.50%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 9934 | 9573082 |
| 5.75%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 9847 | 9748588 |
| CTR Partnership LP/CareTrust Capital Corp., <br> 3.88%, 06/30/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7951 | 7531768 |
| Diversified Healthcare Trust |  |  |
| 0.00%, 01/15/26<sup>(a)(b)(j)</sup> | &nbsp;&nbsp; 10725 | 9878866 |
| 4.38%, 03/01/31 | &nbsp;&nbsp; 7878 | 6379936 |
| 4.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 9388 | 8303696 |
| Global Net Lease Inc./Global Net Lease <br> Operating Partnership LP, 3.75%, 12/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 7212 | 6614125 |
| Hudson Pacific Properties LP |  |  |
| 3.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 6542 | 4777579 |
| 3.95%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 6265 | 5617725 |
| 4.65%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 7810 | 6247746 |
| 5.95%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 5524 | 4896427 |
| Iron Mountain Inc. |  |  |
| 4.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 17021 | 15804581 |
| 4.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 15322 | 15059030 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 4.88%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; $15360 | $14792513 |
| 5.00%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7316 | 7129329 |
| 5.25%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12572 | 12338409 |
| 5.25%, 07/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 20135 | 19467837 |
| 5.63%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9233 | 8956911 |
| 7.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16067 | 16522098 |
| Iron Mountain Information Management <br> Services Inc., 5.00%, 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 11442 | 10784015 |
| Ladder Capital Finance Holdings LLLP/Ladder <br> Capital Finance Corp.<br>|  |  |
| 4.25%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 8741 | 8463388 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10650 | 10146523 |
| 7.00%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8506 | 8822022 |
| MPT Operating Partnership LP/MPT <br> Finance Corp.<br>|  |  |
| 3.50%, 03/15/31 | &nbsp;&nbsp; 20337 | 14401630 |
| 4.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 13564 | 10548880 |
| 5.00%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 21232 | 18738079 |
| 5.25%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 7712 | 7294546 |
| Necessity Retail REIT Inc./American Finance <br> Operating Partner LP (The), 4.50%, <br> 09/30/28<sup>(a)</sup><br>| &nbsp;&nbsp; 7951 | 7323031 |
| Office Properties Income Trust, 9.00%, <br> 09/30/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5961 | 5027231 |
| Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer<br>|  |  |
| 4.88%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11532 | 10984185 |
| 5.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11376 | 11257576 |
| 7.00%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8395 | 8599737 |
| Pebblebrook Hotel LP/PEB Finance Corp., <br> 6.38%, 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2928 | 2924127 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| 4.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9526 | 9120581 |
| 4.75%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 10398 | 10178206 |
| 6.50%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 15830 | 16017855 |
| 7.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5619 | 5828117 |
| Rithm Capital Corp., 8.00%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 13193 | 13164540 |
| RLJ Lodging Trust LP |  |  |
| 3.75%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; 8319 | 8057245 |
| 4.00%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8758 | 7893380 |
| SBA Communications Corp. |  |  |
| 3.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 24951 | 22706455 |
| 3.88%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 23522 | 22765589 |
| Service Properties Trust |  |  |
| 3.95%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6218 | 5336185 |
| 4.38%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 6405 | 4847603 |
| 4.75%, 10/01/26 | &nbsp;&nbsp; 6558 | 6197484 |
| 4.95%, 02/15/27 | &nbsp;&nbsp; 5803 | 5405046 |
| 4.95%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 6961 | 5563568 |
| 5.25%, 02/15/26 | &nbsp;&nbsp; 3725 | 3612878 |
| 5.50%, 12/15/27 | &nbsp;&nbsp; 7299 | 6911757 |
| 8.38%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 10881 | 10633593 |
| 8.63%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 15465 | 16343768 |
| 8.88%, 06/15/32<sup>(b)</sup> | &nbsp;&nbsp; 7925 | 7368950 |
| Starwood Property Trust Inc. |  |  |
| 3.63%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6700 | 6421867 |
| 4.38%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7218 | 6957170 |
| 6.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5000 | 4901109 |
| 7.25%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10929 | 11183558 |
| Uniti Group LP/Uniti Fiber Holdings Inc./CSL <br> Capital LLC, 6.00%, 01/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11509 | 9641821 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Uniti Group LP/Uniti Group Finance 2019 <br> Inc./CSL Capital LLC<br>|  |  |
| 4.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; $8566 | $7874177 |
| 6.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 17185 | 14794737 |
| 10.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 40499 | 43138296 |
| 10.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4210 | 4484363 |
| Vornado Realty LP |  |  |
| 2.15%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 6840 | 6474153 |
| 3.40%, 06/01/31<sup>(b)</sup> | &nbsp;&nbsp; 5426 | 4618596 |
| XHR LP, 4.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9093 | 8535171 |
|  |  | 679040653 |
| **Retail — 5.5%** | **Retail — 5.5%** | **Retail — 5.5%** |
| 1011778 BC ULC/New Red Finance Inc. |  |  |
| 3.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11095 | 10242645 |
| 3.88%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 24068 | 22940266 |
| 4.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 45239 | 40857592 |
| 4.38%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11881 | 11426726 |
| 5.63%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7705 | 7685534 |
| Academy Ltd., 6.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7118 | 7081048 |
| Advance Auto Parts Inc. |  |  |
| 1.75%, 10/01/27 | &nbsp;&nbsp; 5616 | 4993607 |
| 3.50%, 03/15/32<sup>(b)</sup> | &nbsp;&nbsp; 5925 | 4875971 |
| 3.90%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 8680 | 7729073 |
| 5.90%, 03/09/26<sup>(b)</sup> | &nbsp;&nbsp; 2150 | 2167445 |
| 5.95%, 03/09/28<sup>(b)</sup> | &nbsp;&nbsp; 5250 | 5293254 |
| Arko Corp., 5.13%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7860 | 7240473 |
| Asbury Automotive Group Inc. |  |  |
| 4.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 6031 | 5821492 |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12775 | 11961497 |
| 4.75%, 03/01/30 | &nbsp;&nbsp; 7265 | 6836738 |
| 5.00%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9809 | 9036119 |
| At Home Group Inc. |  |  |
| 4.88%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 2157 | 904988 |
| 7.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3727 | 1180543 |
| Bath & Body Works Inc. |  |  |
| 5.25%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 7561 | 7455958 |
| 6.63%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13058 | 13074897 |
| 6.69%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5314 | 5439575 |
| 6.75%, 07/01/36<sup>(b)</sup> | &nbsp;&nbsp; 8604 | 8650367 |
| 6.88%, 11/01/35<sup>(b)</sup> | &nbsp;&nbsp; 12558 | 12746533 |
| 6.95%, 03/01/33<sup>(b)</sup> | &nbsp;&nbsp; 4551 | 4512521 |
| 7.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5908 | 6083190 |
| BCPE Ulysses Intermediate Inc., 7.75%, <br> 04/01/27, (7.75% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 5197 | 5063317 |
| Beacon Roofing Supply Inc. |  |  |
| 4.13%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5464 | 5080187 |
| 4.50%, 11/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5033 | 4932749 |
| 6.50%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9493 | 9649369 |
| Bloomin' Brands Inc./OSI Restaurant <br> Partners LLC, 5.13%, 04/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5285 | 4900722 |
| BlueLinx Holdings Inc., 6.00%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4790 | 4622756 |
| Brinker International Inc., 8.25%, 07/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7000 | 7451409 |
| Carvana Co. |  |  |
| 12.00%, 12/01/28, (12.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 11959 | 12648841 |
| 13.00%, 06/01/30, (13.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 19265 | 21003268 |
| 14.00%, 06/01/31, (14.00% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 31007 | 36968010 |
| CEC Entertainment LLC, 6.75%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 8949 | 8896405 |
| Cougar JV Subsidiary LLC, 8.00%, <br> 05/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11497 | 12019102 |
| Dave & Buster's Inc., 7.63%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3879 | 3879000 |
| eG Global Finance PLC, 12.00%, 11/30/28<sup>(a)</sup> | &nbsp;&nbsp; 18762 | 20861580 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Evergreen Acqco 1 LP/TVI Inc., 9.75%, <br> 04/26/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $8245 | $8675331 |
| Ferrellgas LP/Ferrellgas Finance Corp. |  |  |
| 5.38%, 04/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 6858 | 6809998 |
| 5.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 13568 | 12663658 |
| Fertitta Entertainment LLC/Fertitta <br> Entertainment Finance Co. Inc.<br>|  |  |
| 4.63%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15920 | 14862414 |
| 6.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 20055 | 18239639 |
| FirstCash Inc. |  |  |
| 4.63%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8778 | 8314372 |
| 5.63%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8759 | 8503476 |
| 6.88%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp; 8541 | 8638325 |
| Foot Locker Inc., 4.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7022 | 6033749 |
| Foundation Building Materials Inc., 6.00%, <br> 03/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6540 | 5778316 |
| Gap Inc. (The) |  |  |
| 3.63%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11922 | 10699261 |
| 3.88%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12510 | 10750195 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. |  |  |
| 8.38%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8516 | 7996306 |
| 8.75%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8450 | 7680358 |
| Group 1 Automotive Inc. |  |  |
| 4.00%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12594 | 11823816 |
| 6.38%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8535 | 8573268 |
| Guitar Center Inc., 8.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5384 | 4597948 |
| GYP Holdings III Corp., 4.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5626 | 5310753 |
| Ken Garff Automotive LLC, 4.88%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7168 | 6950560 |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco <br> Bell of America LLC, 4.75%, 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 7527 | 7456754 |
| Kohl's Corp. |  |  |
| 4.63%, 05/01/31<sup>(b)</sup> | &nbsp;&nbsp; 8160 | 6767201 |
| 5.55%, 07/17/45<sup>(b)</sup> | &nbsp;&nbsp; 6525 | 4362660 |
| LBM Acquisition LLC, 6.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11739 | 10826287 |
| LCM Investments Holdings II LLC |  |  |
| 4.88%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 15922 | 15045241 |
| 8.25%, 08/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13468 | 14065885 |
| Lithia Motors Inc. |  |  |
| 3.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12245 | 11237312 |
| 4.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9840 | 9003984 |
| 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5976 | 5798632 |
| Macy's Retail Holdings LLC |  |  |
| 4.30%, 02/15/43<sup>(b)</sup> | &nbsp;&nbsp; 4324 | 2982689 |
| 4.50%, 12/15/34<sup>(b)</sup> | &nbsp;&nbsp; 5475 | 4572697 |
| 5.13%, 01/15/42<sup>(b)</sup> | &nbsp;&nbsp; 3547 | 2728988 |
| 5.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3824 | 3736527 |
| 5.88%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7669 | 7417079 |
| 6.13%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7336 | 7009230 |
| Marks & Spencer PLC, 7.13%, 12/01/37<sup>(a)(b)</sup> | &nbsp;&nbsp; 4340 | 4766498 |
| Michaels Companies Inc. (The) |  |  |
| 5.25%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13595 | 9782799 |
| 7.88%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 17525 | 9242131 |
| Murphy Oil USA Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8027 | 7132876 |
| 4.75%, 09/15/29 | &nbsp;&nbsp; 8457 | 8082548 |
| 5.63%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 3117 | 3124856 |
| NMG Holding Co. Inc./Neiman Marcus <br> Group LLC, 8.50%, 04/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 16148 | 16417951 |
| Nordstrom Inc. |  |  |
| 4.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5520 | 5312795 |
| 4.25%, 08/01/31 | &nbsp;&nbsp; 6591 | 5798952 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 4.38%, 04/01/30<sup>(b)</sup> | &nbsp;&nbsp; $7742 | $7017654 |
| 5.00%, 01/15/44<sup>(b)</sup> | &nbsp;&nbsp; 14381 | 10820423 |
| 6.95%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 4974 | 5153168 |
| Papa John's International Inc., 3.88%, <br> 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7892 | 7197424 |
| Park River Holdings Inc. |  |  |
| 5.63%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5031 | 4393850 |
| 6.75%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4260 | 3802243 |
| Patrick Industries Inc. |  |  |
| 4.75%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6513 | 6160296 |
| 6.38%, 11/01/32<sup>(a)</sup> | &nbsp;&nbsp; 6740 | 6665593 |
| 7.50%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2597 | 2592128 |
| Penske Automotive Group Inc., 3.75%, <br> 06/15/29<sup>(b)</sup><br>| &nbsp;&nbsp; 9447 | 8644436 |
| PetSmart Inc./PetSmart Finance Corp. |  |  |
| 4.75%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 19141 | 18196156 |
| 7.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 18142 | 17608475 |
| QVC Inc. |  |  |
| 5.45%, 08/15/34<sup>(b)</sup> | &nbsp;&nbsp; 6084 | 3996518 |
| 5.95%, 03/15/43 | &nbsp;&nbsp; 4306 | 2631426 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9779 | 8423981 |
| Raising Cane's Restaurants LLC, 9.38%, <br> 05/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7155 | 7690752 |
| Sally Holdings LLC/Sally Capital Inc., 6.75%, <br> 03/01/32<sup>(b)</sup><br>| &nbsp;&nbsp; 10879 | 11014563 |
| Sizzling Platter LLC/Sizzling Platter Finance <br> Corp., 8.50%, 11/28/25<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3317 | 3320795 |
| Sonic Automotive Inc. |  |  |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10891 | 10000919 |
| 4.88%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8417 | 7568146 |
| Specialty Building Products Holdings LLC/SBP <br> Finance Corp., 7.75%, 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 6542 | 6672030 |
| Staples Inc. |  |  |
| 10.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 37160 | 35933096 |
| 12.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12982 | 10316743 |
| Suburban Propane Partners LP/Suburban <br> Energy Finance Corp.<br>|  |  |
| 5.00%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 11361 | 10419830 |
| 5.88%, 03/01/27<sup>(b)</sup> | &nbsp;&nbsp; 6992 | 6982431 |
| Superior Plus LP/Superior General Partner Inc., <br> 4.50%, 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 10752 | 9920623 |
| Victoria's Secret & Co., 4.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9964 | 8780984 |
| Victra Holdings LLC/Victra Finance Corp., <br> 8.75%, 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8135 | 8492371 |
| Vivo Energy Investments BV, 5.13%, <br> 09/24/27<sup>(a)</sup><br>| &nbsp;&nbsp; 45 | 44005 |
| Walgreen Co., 4.40%, 09/15/42 | &nbsp;&nbsp; 2000 | 1304485 |
| Walgreens Boots Alliance Inc. |  |  |
| 3.20%, 04/15/30 | &nbsp;&nbsp; 7960 | 6328373 |
| 3.45%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 19275 | 18541411 |
| 4.10%, 04/15/50<sup>(b)</sup> | &nbsp;&nbsp; 9340 | 6023532 |
| 4.50%, 11/18/34<sup>(b)</sup> | &nbsp;&nbsp; 4385 | 3408265 |
| 4.65%, 06/01/46 | &nbsp;&nbsp; 4085 | 2665670 |
| 4.80%, 11/18/44<sup>(b)</sup> | &nbsp;&nbsp; 10035 | 7382358 |
| 8.13%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 12230 | 12155661 |
| White Cap Buyer LLC, 6.88%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11872 | 11911071 |
| White Cap Parent LLC, 8.25%, 03/15/26, <br> (9.00% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 2160 | 2161760 |
| Yum! Brands Inc. |  |  |
| 3.63%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 16812 | 15224497 |
| 4.63%, 01/31/32<sup>(b)</sup> | &nbsp;&nbsp; 17449 | 16358851 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 4.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; $13195 | $12767726 |
| 5.35%, 11/01/43<sup>(b)</sup> | &nbsp;&nbsp; 4178 | 4066985 |
| 5.38%, 04/01/32<sup>(b)</sup> | &nbsp;&nbsp; 16172 | 15740416 |
| 6.88%, 11/15/37 | &nbsp;&nbsp; 4681 | 5201097 |
|  |  | 1131492299 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| Amkor Technology Inc., 6.63%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4933 | 4948055 |
| ams-OSRAM AG, 12.25%, 03/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6680 | 6935383 |
| Entegris Inc. |  |  |
| 3.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5844 | 5347465 |
| 4.38%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5870 | 5612105 |
| 4.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 24863 | 24086225 |
| 5.95%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14325 | 14309371 |
| ON Semiconductor Corp., 3.88%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12155 | 11397739 |
| Synaptics Inc., 4.00%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7729 | 7090090 |
|  |  | 79726433 |
| **Software — 2.7%** | **Software — 2.7%** | **Software — 2.7%** |
| ACI Worldwide Inc., 5.75%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5291 | 5289712 |
| AthenaHealth Group Inc., 6.50%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 37006 | 34999076 |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 11896 | 11685931 |
| Capstone Borrower Inc., 8.00%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9156 | 9569329 |
| Castle U.S. Holding Crop., 9.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2019 | 908550 |
| Central Parent Inc./CDK Global Inc., 7.25%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 12163 | 12208988 |
| Central Parent LLC/CDK Global II LLC/CDK <br> Financing Co. Inc., 8.00%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 12375 | 12646186 |
| Clarivate Science Holdings Corp. |  |  |
| 3.88%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 14030 | 13241051 |
| 4.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14516 | 13718507 |
| Cloud Software Group Inc. |  |  |
| 6.50%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp; 61189 | 59754957 |
| 8.25%, 06/30/32<sup>(a)</sup> | &nbsp;&nbsp; 28460 | 29252544 |
| 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 59368 | 59362608 |
| Consensus Cloud Solutions Inc. |  |  |
| 6.00%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 3384 | 3347077 |
| 6.50%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6704 | 6639827 |
| Dun & Bradstreet Corp. (The), 5.00%, <br> 12/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8404 | 8234404 |
| Dye & Durham Ltd., 8.63%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10001 | 10601610 |
| Elastic NV, 4.13%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10360 | 9586907 |
| Fair Isaac Corp. |  |  |
| 4.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 15510 | 14729115 |
| 5.25%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4765 | 4770546 |
| Helios Software Holdings Inc./ION Corporate <br> Solutions Finance SARL<br>|  |  |
| 4.63%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4675 | 4285017 |
| 8.75%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9535 | 9680781 |
| Open Text Corp. |  |  |
| 3.88%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 15780 | 14842480 |
| 3.88%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13532 | 12345341 |
| Open Text Holdings Inc. |  |  |
| 4.13%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 14679 | 13475974 |
| 4.13%, 12/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10161 | 9125638 |
| PTC Inc., 4.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9561 | 9146650 |
| Rackspace Finance LLC, 3.50%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 1801 | 1060810 |
| RingCentral Inc., 8.50%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7594 | 8031559 |
| ROBLOX Corp., 3.88%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 17292 | 15650078 |
| Rocket Software Inc. |  |  |
| 6.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9520 | 8852379 |
| 9.00%, 11/28/28<sup>(a)</sup> | &nbsp;&nbsp; 12434 | 12952572 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| SS&C Technologies Inc. |  |  |
| 5.50%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; $20004 | $19924496 |
| 6.50%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13735 | 13981269 |
| Twilio Inc. |  |  |
| 3.63%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 9124 | 8401907 |
| 3.88%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 8978 | 8098647 |
| UKG Inc., 6.88%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 36970 | 37876181 |
| Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, <br> 09/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 11766 | 11197881 |
| West Technology Group LLC, 8.50%, <br> 04/10/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6298 | 5277434 |
| ZoomInfo Technologies LLC/ZoomInfo Finance <br> Corp., 3.88%, 02/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11144 | 10151631 |
|  |  | 554905650 |
| **Telecommunications — 4.9%** | **Telecommunications — 4.9%** | **Telecommunications — 4.9%** |
| Altice Financing SA |  |  |
| 5.00%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 18524 | 15664743 |
| 5.75%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 31962 | 26212856 |
| 9.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6055 | 5893572 |
| Altice France Holding SA |  |  |
| 6.00%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10450 | 2832240 |
| 10.50%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 15722 | 4779939 |
| Altice France SA |  |  |
| 5.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8275 | 6197522 |
| 5.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 39769 | 29745353 |
| 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 18074 | 14025445 |
| 5.50%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 32453 | 24298820 |
| 8.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 29354 | 24313472 |
| British Telecommunications PLC |  |  |
| 4.25%, 11/23/81, <br> (5-year CMT + 2.985%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 8591 | 8277524 |
| 4.88%, 11/23/81, <br> (5-year CMT + 3.493%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 8554 | 7851785 |
| Ciena Corp., 4.00%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7538 | 6955861 |
| CommScope LLC |  |  |
| 4.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 19440 | 16621200 |
| 6.00%, 03/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 21529 | 21016776 |
| 7.13%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 9953 | 8656910 |
| 8.25%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 13565 | 12845103 |
| CommScope Technologies LLC, 5.00%, <br> 03/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11761 | 10402108 |
| Connect Finco SARL/Connect U.S. Finco LLC, <br> 9.00%, 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 31210 | 29644762 |
| Consolidated Communications Inc. |  |  |
| 5.00%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6768 | 6259852 |
| 6.50%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11902 | 11293291 |
| Embarq Corp., 8.00%, 06/01/36 | &nbsp;&nbsp; 12146 | 5200796 |
| Frontier Communications Holdings LLC |  |  |
| 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 22082 | 21707821 |
| 5.88%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 14063 | 14032870 |
| 5.88%, 11/01/29<sup>(b)</sup> | &nbsp;&nbsp; 13104 | 12803423 |
| 6.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 17251 | 16882039 |
| 6.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 17147 | 17056714 |
| 8.63%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13141 | 14084668 |
| 8.75%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 16837 | 17824069 |
| Frontier Florida LLC, Series E, 6.86%, <br> 02/01/28<sup>(b)</sup><br>| &nbsp;&nbsp; 4337 | 4502326 |
| GoTo Group Inc., 5.50%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12139 | 7123142 |
| Hughes Satellite Systems Corp. |  |  |
| 5.25%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 13478 | 12311693 |
| 6.63%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 9556 | 8266959 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Iliad Holding SASU |  |  |
| 6.50%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; $9265 | $9339000 |
| 7.00%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12981 | 13148721 |
| 8.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 16154 | 17208389 |
| Intelsat Jackson Holdings SA, 6.50%, <br> 03/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 47737 | 44852802 |
| Level 3 Financing Inc. |  |  |
| 3.88%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8635 | 6562509 |
| 4.00%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8464 | 6390320 |
| 4.50%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13119 | 10494430 |
| 4.88%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11879 | 10156545 |
| 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 3475 | 3443169 |
| 10.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12315 | 13710928 |
| 10.50%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14605 | 15974219 |
| 10.75%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 12275 | 13715682 |
| 11.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 26367 | 29752832 |
| Lumen Technologies Inc. |  |  |
| 4.13%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7409 | 6482540 |
| 4.13%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7451 | 6314470 |
| 4.50%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 3083 | 2404740 |
| 5.13%, 12/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 570 | 536200 |
| 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 4665 | 4647506 |
| Series P, 7.60%, 09/15/39<sup>(b)</sup> | &nbsp;&nbsp; 2663 | 1954845 |
| Series U, 7.65%, 03/15/42<sup>(b)</sup> | &nbsp;&nbsp; 2165 | 1566789 |
| Millicom International Cellular SA |  |  |
| 4.50%, 04/27/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 11612 | 10475953 |
| 5.13%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6288 | 6092850 |
| 6.25%, 03/25/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10462 | 10398177 |
| 7.38%, 04/02/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6990 | 7140879 |
| Optics Bidco SpA |  |  |
| Series 2033, 6.38%, 11/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 7514 | 7572083 |
| Series 2034, 6.00%, 09/30/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 8396 | 8184355 |
| Series 2036, 7.20%, 07/18/36<sup>(a)</sup> | &nbsp;&nbsp; 7575 | 7792531 |
| Series 2038, 7.72%, 06/04/38<sup>(a)</sup> | &nbsp;&nbsp; 7387 | 7835978 |
| Rogers Communications Inc., 5.25%, 03/15/82, <br> (5-year CMT + 3.590%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 13375 | 13092049 |
| Sable International Finance Ltd., 7.13%, <br> 10/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 10365 | 10390912 |
| Telecom Italia Capital SA |  |  |
| 6.00%, 09/30/34<sup>(b)</sup> | &nbsp;&nbsp; 8508 | 8276805 |
| 6.38%, 11/15/33<sup>(b)</sup> | &nbsp;&nbsp; 8258 | 8345576 |
| 7.20%, 07/18/36 | &nbsp;&nbsp; 7641 | 7748058 |
| 7.72%, 06/04/38 | &nbsp;&nbsp; 7570 | 7879068 |
| Telesat Canada/Telesat LLC |  |  |
| 4.88%, 06/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3293 | 1435018 |
| 5.63%, 12/06/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4350 | 1925930 |
| 6.50%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3076 | 951103 |
| U.S. Cellular Corp., 6.70%, 12/15/33<sup>(b)</sup> | &nbsp;&nbsp; 9558 | 10310731 |
| Viasat Inc. |  |  |
| 6.50%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6456 | 4869138 |
| 7.50%, 05/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10216 | 6702311 |
| ViaSat Inc., 5.63%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9212 | 8599647 |
| Viavi Solutions Inc., 3.75%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6156 | 5586196 |
| Vmed O2 U.K. Financing I PLC |  |  |
| 4.25%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; 20785 | 17930604 |
| 4.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 21839 | 18913234 |
| 7.75%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 11860 | 11874315 |
| Vodafone Group PLC |  |  |
| 3.25%, 06/04/81, <br> (5-year CMT + 2.447%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 8252 | 7922513 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 4.13%, 06/04/81, <br> (5-year CMT + 2.767%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; $15122 | $13598732 |
| 5.13%, 06/04/81, <br> (5-year CMT + 3.073%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 14186 | 11323887 |
| 7.00%, 04/04/79, <br> (5-year USD Swap + 4.873%)<sup>(d)</sup><br>| &nbsp;&nbsp; 31239 | 32720103 |
| Windstream Services LLC/Windstream Escrow <br> Finance Corp.<br>|  |  |
| 7.75%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 21330 | 21448040 |
| 8.25%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 6002 | 6077035 |
| Zayo Group Holdings Inc. |  |  |
| 4.00%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 23372 | 20801286 |
| 6.13%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 16048 | 13775964 |
| Zegona Finance PLC, 8.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15210 | 16065562 |
|  |  | 1018298913 |
| **Transportation — 0.6%** | **Transportation — 0.6%** | **Transportation — 0.6%** |
| Brightline East LLC, 11.00%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 20434 | 18453442 |
| Cargo Aircraft Management Inc., 4.75%, <br> 02/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10846 | 10347942 |
| Carriage Purchaser Inc., 7.88%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4609 | 4326414 |
| Danaos Corp., 8.50%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4546 | 4673170 |
| First Student Bidco Inc./First Transit Parent Inc., <br> 4.00%, 07/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11067 | 10187870 |
| Genesee & Wyoming Inc., 6.25%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 11685 | 11787095 |
| GN Bondco LLC, 9.50%, 10/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12608 | 13388070 |
| Rand Parent LLC, 8.50%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12569 | 12541348 |
| RXO Inc., 7.50%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 4945 | 5097305 |
| Watco Companies LLC/Watco Finance Corp., <br> 7.13%, 08/01/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 12474 | 12861255 |
| XPO CNW Inc., 6.70%, 05/01/34 | &nbsp;&nbsp; 3895 | 4080047 |
| XPO Inc. |  |  |
| 7.13%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7929 | 8206761 |
| 7.13%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10185 | 10580534 |
|  |  | 126531253 |
| **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** |
| Fortress Transportation and Infrastructure <br> Investors LLC<br>|  |  |
| 5.88%, 04/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 5980 | 5830241 |
| 7.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 10993 | 11305355 |
| 7.00%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12375 | 12696787 |
| 7.88%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8190 | 8628009 |
| 5.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 16133 | 15816169 |
|  |  | 54276561 |
| **Total Corporate Bonds & Notes — 97.9%** <br>**(Cost: $20,463,083,468)** | **Total Corporate Bonds & Notes — 97.9%** <br>**(Cost: $20,463,083,468)** | 20184937295 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| Quincy Health LLC<sup>(h)</sup> | &nbsp;&nbsp; 11575 |  |
| **Office REITs — 0.0%** | **Office REITs — 0.0%** | **Office REITs — 0.0%** |
| Office Properties Income Trust, NVS | &nbsp;&nbsp; 30481 | 48465 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Professional Services — 0.0%** | **Professional Services — 0.0%** | **Professional Services — 0.0%** |
| Affinion Group Inc.<sup>(h)</sup> | &nbsp;&nbsp; 3506 | $— |
| **Total Common Stocks — 0.0%** <br>**(Cost $1,265,178)** | **Total Common Stocks — 0.0%** <br>**(Cost $1,265,178)** | 48465 |
| **Total Long-Term Investments — 97.9%** <br>**(Cost: $20,464,348,646)** | **Total Long-Term Investments — 97.9%** <br>**(Cost: $20,464,348,646)** | 20184985760 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 17.3%** | **Money Market Funds — 17.3%** | **Money Market Funds — 17.3%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(k)(l)(m)</sup><br>| &nbsp;&nbsp; 3486330949 | 3488771380 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(k)(l)</sup><br>| &nbsp;&nbsp; 68470000 | 68470000 |
| **Total Short-Term Securities — 17.3%** <br>**(Cost: $3,555,598,194)** | **Total Short-Term Securities — 17.3%** <br>**(Cost: $3,555,598,194)** | 3557241380 |
| **Total Investments — 115.2%** <br>**(Cost: $24,019,946,840)** | **Total Investments — 115.2%** <br>**(Cost: $24,019,946,840)** | 23742227140 |
| **Liabilities in Excess of Other Assets — (15.2)%** | **Liabilities in Excess of Other Assets — (15.2)%** | (3137476447)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $20604750693 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(d)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(e)</sup> Perpetual security with no stated maturity date.

<sup>(f)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(g)</sup> Non-income producing security.

<sup>(h)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(i)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(j)</sup> Zero-coupon bond.

<sup>(k)</sup> Affiliate of the Fund.

<sup>(l)</sup> Annualized 7-day yield as of period end.

<sup>(m)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Insti-<br> tutional, SL Agency Shares<br>| $1558096242<br> $1929932862 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(85553)<br>| $827829 | $3488771380 | 3486330949 | $13900045 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Trea-<br> sury, SL Agency Shares<br>| 55170000<br> 13300000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 68470000 | 68470000 | 2678624 | &nbsp;&nbsp; — |
|  |  |  | $(85553)<br>| $827829 | $3557241380 |  | $16578669 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $20184937295 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $20184937295 |
| Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 48465 | &nbsp;&nbsp; — | &nbsp;&nbsp; 48465 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Broad USD High Yield Corporate Bond ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $3557241380 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3557241380 |
|  | &nbsp;&nbsp; $3557241380 | &nbsp;&nbsp; $20184985760 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $23742227140 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 1.5%** | **Advertising — 1.5%** | **Advertising — 1.5%** |
| Advantage Sales & Marketing Inc., 6.50%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; $192 | $179745 |
| Clear Channel Outdoor Holdings Inc. |  |  |
| 5.13%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 369 | 358485 |
| 7.50%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 303 | 258813 |
| 7.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 285 | 253535 |
| 7.88%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 217 | 221192 |
| 9.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 215 | 225895 |
| Outfront Media Capital LLC/Outfront Media <br> Capital Corp.<br>|  |  |
| 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 134 | 125476 |
| 4.63%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 157 | 146024 |
| 5.00%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 177 | 174263 |
| 7.38%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 136 | 143659 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 302 | 287439 |
|  |  | 2374526 |
| **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** |
| TransDigm Inc. |  |  |
| 4.63%, 01/15/29 | &nbsp;&nbsp; 245 | 232709 |
| 4.88%, 05/01/29 | &nbsp;&nbsp; 155 | 147833 |
| 5.50%, 11/15/27 | &nbsp;&nbsp; 497 | 492969 |
| 6.00%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 300 | 297349 |
| 6.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 526 | 533934 |
| 6.63%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp; 453 | 460888 |
| 6.75%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 374 | 382402 |
| 6.88%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 295 | 302660 |
| 7.13%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 202 | 209374 |
| Triumph Group Inc., 9.00%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 279 | 290925 |
|  |  | 3351043 |
| **Agriculture — 0.3%** | **Agriculture — 0.3%** | **Agriculture — 0.3%** |
| Darling Ingredients Inc. |  |  |
| 5.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 142 | 140640 |
| 6.00%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 284 | 281941 |
|  |  | 422581 |
| **Airlines — 0.5%** | **Airlines — 0.5%** | **Airlines — 0.5%** |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 165 | 162506 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(a)</sup><br>| &nbsp;&nbsp; 570 | 591830 |
|  |  | 754336 |
| **Apparel — 0.7%** | **Apparel — 0.7%** | **Apparel — 0.7%** |
| Hanesbrands Inc. |  |  |
| 4.88%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 239 | 236235 |
| 9.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 182 | 195361 |
| Kontoor Brands Inc., 4.13%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 116 | 108004 |
| Under Armour Inc., 3.25%, 06/15/26 | &nbsp;&nbsp; 176 | 169204 |
| VF Corp. |  |  |
| 2.80%, 04/23/27 | &nbsp;&nbsp; 150 | 141410 |
| 2.95%, 04/23/30<sup>(b)</sup> | &nbsp;&nbsp; 200 | 172601 |
| Wolverine World Wide Inc., 4.00%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 147 | 125678 |
|  |  | 1148493 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| Wabash National Corp., 4.50%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 137 | 124153 |
| **Auto Parts & Equipment — 2.1%** | **Auto Parts & Equipment — 2.1%** | **Auto Parts & Equipment — 2.1%** |
| Adient Global Holdings Ltd. |  |  |
| 4.88%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 200 | 196955 |
| 7.00%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 169 | 171804 |
| 8.25%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 158 | 163564 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| American Axle & Manufacturing Inc. |  |  |
| 5.00%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; $163 | $147458 |
| 6.50%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 154 | 153193 |
| 6.88%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 110 | 108783 |
| Dana Inc. |  |  |
| 4.25%, 09/01/30 | &nbsp;&nbsp; 109 | 95076 |
| 5.38%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 110 | 107600 |
| 5.63%, 06/15/28 | &nbsp;&nbsp; 125 | 121309 |
| Garrett Motion Holdings Inc./Garrett LX I SARL, <br> 7.75%, 05/31/32<sup>(a)</sup><br>| &nbsp;&nbsp; 227 | 226494 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| 4.88%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 202 | 194746 |
| 5.00%, 05/31/26 | &nbsp;&nbsp; 235 | 230784 |
| 5.00%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 227 | 205006 |
| 5.25%, 04/30/31 | &nbsp;&nbsp; 152 | 133563 |
| 5.25%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 197 | 172971 |
| 5.63%, 04/30/33<sup>(b)</sup> | &nbsp;&nbsp; 127 | 109643 |
| Phinia Inc. |  |  |
| 6.63%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 135 | 134648 |
| 6.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 178 | 181995 |
| Tenneco Inc., 8.00%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp; 550 | 508917 |
|  |  | 3364509 |
| **Banks — 0.8%** | **Banks — 0.8%** | **Banks — 0.8%** |
| Banc of California, 3.25%, 05/01/31, <br> (3-mo. CME Term SOFR + 2.520%)<sup>(c)</sup><br>| &nbsp;&nbsp; 100 | 91394 |
| Dresdner Funding Trust I, 8.15%, 06/30/31<sup>(a)</sup> | &nbsp;&nbsp; 260 | 289195 |
| Intesa Sanpaolo SpA |  |  |
| 4.20%, 06/01/32, (1-year CMT + 2.600%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 225 | 197073 |
| 4.95%, 06/01/42, (1-year CMT + 2.750%)<sup>(a)(c)</sup> | &nbsp;&nbsp; 210 | 162537 |
| 5.71%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 400 | 400555 |
| Western Alliance Bancorp, 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.250%)<sup>(c)</sup><br>| &nbsp;&nbsp; 175 | 162146 |
|  |  | 1302900 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| Primo Water Holdings Inc., 4.38%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; 195 | 183532 |
| **Building Materials — 2.3%** | **Building Materials — 2.3%** | **Building Materials — 2.3%** |
| Boise Cascade Co., 4.88%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 127 | 120534 |
| Builders FirstSource Inc. |  |  |
| 4.25%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 355 | 317725 |
| 5.00%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 161 | 154163 |
| 6.38%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 205 | 206448 |
| 6.38%, 03/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 299 | 301143 |
| Camelot Return Merger Sub Inc., 8.75%, <br> 08/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 224 | 225227 |
| Cornerstone Building Brands Inc., 9.50%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 135 | 139317 |
| EMRLD Borrower LP/Emerald Co-Issuer Inc. |  |  |
| 6.63%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 785 | 797792 |
| 6.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 134 | 137076 |
| Griffon Corp., 5.75%, 03/01/28 | &nbsp;&nbsp; 248 | 243501 |
| James Hardie International Finance DAC, 5.00%, <br> 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 100 | 97079 |
| Jeld-Wen Inc., 4.88%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 121 | 117113 |
| Knife River Corp., 7.75%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 110 | 115296 |
| Masterbrand Inc., 7.00%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 198 | 202816 |
| Summit Materials LLC/Summit Materials <br> Finance Corp.<br>|  |  |
| 5.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 187 | 185383 |
| 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 221 | 229760 |
|  |  | 3590373 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** |
| Ashland Inc., 3.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; $136 | $118007 |
| Avient Corp. |  |  |
| 6.25%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp; 172 | 172832 |
| 7.13%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 194 | 199574 |
| Axalta Coating Systems Dutch Holding B BV, 7.25%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 125 | 130825 |
| Axalta Coating Systems LLC, 3.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 180 | 165566 |
| Axalta Coating Systems LLC/Axalta Coating Systems <br> Dutch Holding B BV, 4.75%, 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 125 | 122497 |
| Mativ Holdings Inc., 8.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 100 | 101644 |
| Methanex Corp. |  |  |
| 5.13%, 10/15/27 | &nbsp;&nbsp; 210 | 204357 |
| 5.25%, 12/15/29 | &nbsp;&nbsp; 187 | 180691 |
| OCI NV, 6.70%, 03/16/33<sup>(a)</sup> | &nbsp;&nbsp; 165 | 164747 |
| Rain Carbon Inc., 12.25%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 145 | 154422 |
| Rayonier AM Products Inc., 7.63%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 119 | 119085 |
| Trinseo Materials Operating SCA/Trinseo Materials <br> Finance Inc., 5.13%, 04/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 110 | 58828 |
| Tronox Inc., 4.63%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 314 | 284633 |
|  |  | 2177708 |
| **Commercial Services — 6.8%** | **Commercial Services — 6.8%** | **Commercial Services — 6.8%** |
| ADT Security Corp. (The) |  |  |
| 4.13%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 268 | 250600 |
| 4.88%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 245 | 228106 |
| Adtalem Global Education Inc., 5.50%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 115 | 112713 |
| Alta Equipment Group Inc., 9.00%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 129 | 114637 |
| AMN Healthcare Inc., 4.63%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 159 | 153273 |
| Avis Budget Car Rental LLC/Avis Budget Finance Inc. |  |  |
| 4.75%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 125 | 117372 |
| 5.38%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 173 | 161092 |
| 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 117 | 114950 |
| 8.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 134 | 136920 |
| 8.25%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 214 | 218478 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 325 | 325672 |
| Block Inc. |  |  |
| 2.75%, 06/01/26 | &nbsp;&nbsp; 268 | 258319 |
| 3.50%, 06/01/31 | &nbsp;&nbsp; 284 | 252073 |
| 6.50%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; 580 | 590528 |
| Brink's Co. (The) |  |  |
| 4.63%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 176 | 170953 |
| 6.50%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 129 | 131803 |
| 6.75%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 113 | 115049 |
| Carriage Services Inc., 4.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 136 | 124692 |
| Cimpress PLC, 7.38%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp; 145 | 142729 |
| Deluxe Corp., 8.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 128 | 120650 |
| Herc Holdings Inc. |  |  |
| 5.50%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 321 | 318488 |
| 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 228 | 233403 |
| Hertz Corp. (The) |  |  |
| 4.63%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 135 | 101919 |
| 5.00%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 275 | 178085 |
| 12.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 230 | 243830 |
| Korn Ferry, 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 104 | 101364 |
| NESCO Holdings II Inc., 5.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 280 | 260576 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc.<br>|  |  |
| 3.38%, 08/31/27<sup>(a)</sup> | &nbsp;&nbsp; 258 | 242637 |
| 5.75%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 355 | 355253 |
| 6.25%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 345 | 344654 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| RR Donnelley & Sons Co. |  |  |
| 9.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; $300 | $302166 |
| 10.88%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 146 | 143933 |
| Service Corp. International/U.S. |  |  |
| 3.38%, 08/15/30 | &nbsp;&nbsp; 222 | 196295 |
| 4.00%, 05/15/31<sup>(b)</sup> | &nbsp;&nbsp; 240 | 216463 |
| 4.63%, 12/15/27 | &nbsp;&nbsp; 135 | 132188 |
| 5.13%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 195 | 191439 |
| 5.75%, 10/15/32 | &nbsp;&nbsp; 256 | 251943 |
| Sotheby's, 7.38%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 200 | 194229 |
| TriNet Group Inc. |  |  |
| 3.50%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 150 | 136829 |
| 7.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 104 | 106447 |
| United Rentals North America Inc. |  |  |
| 3.75%, 01/15/32 | &nbsp;&nbsp; 231 | 204854 |
| 3.88%, 11/15/27 | &nbsp;&nbsp; 185 | 178093 |
| 3.88%, 02/15/31 | &nbsp;&nbsp; 300 | 272253 |
| 4.00%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp; 212 | 195653 |
| 4.88%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 490 | 479216 |
| 5.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 197 | 193539 |
| 5.50%, 05/15/27 | &nbsp;&nbsp; 130 | 129782 |
| 6.13%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 325 | 327272 |
| Valvoline Inc., 3.63%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 147 | 127450 |
| Williams Scotsman Inc. |  |  |
| 4.63%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 143 | 136896 |
| 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 166 | 168564 |
| 7.38%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 145 | 150196 |
| WW International Inc., 4.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 130 | 32698 |
| ZipRecruiter Inc., 5.00%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 173 | 156337 |
|  |  | 10845553 |
| **Computers — 1.8%** | **Computers — 1.8%** | **Computers — 1.8%** |
| ASGN Inc., 4.63%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 156 | 149071 |
| Insight Enterprises Inc., 6.63%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 147 | 150355 |
| McAfee Corp., 7.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 566 | 546194 |
| NCR Voyix Corp. |  |  |
| 5.00%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 160 | 153789 |
| 5.13%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 122 | 116443 |
| Seagate HDD Cayman |  |  |
| 4.09%, 06/01/29 | &nbsp;&nbsp; 145 | 136748 |
| 4.88%, 06/01/27 | &nbsp;&nbsp; 153 | 151078 |
| 5.75%, 12/01/34<sup>(b)</sup> | &nbsp;&nbsp; 138 | 135778 |
| 8.25%, 12/15/29<sup>(b)</sup> | &nbsp;&nbsp; 153 | 164527 |
| 8.50%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 120 | 129300 |
| 9.63%, 12/01/32<sup>(b)</sup> | &nbsp;&nbsp; 216 | 246652 |
| Unisys Corp., 6.88%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 148 | 144846 |
| Western Digital Corp., 4.75%, 02/15/26 | &nbsp;&nbsp; 610 | 602401 |
|  |  | 2827182 |
| **Cosmetics & Personal Care — 0.7%** | **Cosmetics & Personal Care — 0.7%** | **Cosmetics & Personal Care — 0.7%** |
| Edgewell Personal Care Co. |  |  |
| 4.13%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 155 | 144900 |
| 5.50%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 217 | 214277 |
| Perrigo Finance Unlimited Co. |  |  |
| 5.15%, 06/15/30 | &nbsp;&nbsp; 200 | 189363 |
| 6.13%, 09/30/32<sup>(b)</sup> | &nbsp;&nbsp; 264 | 260382 |
| Prestige Brands Inc. |  |  |
| 3.75%, 04/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 189 | 169067 |
| 5.13%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 112 | 109804 |
|  |  | 1087793 |
| **Distribution & Wholesale — 0.7%** | **Distribution & Wholesale — 0.7%** | **Distribution & Wholesale — 0.7%** |
| Gates Corp./DE, 6.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 139 | 142999 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Distribution & Wholesale (continued)** | **Distribution & Wholesale (continued)** | **Distribution & Wholesale (continued)** |
| H&E Equipment Services Inc., 3.88%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; $373 | $344576 |
| Resideo Funding Inc., 6.50%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 158 | 159142 |
| Ritchie Bros Holdings Inc. |  |  |
| 6.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 140 | 143709 |
| 7.75%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 235 | 247941 |
|  |  | 1038367 |
| **Diversified Financial Services — 5.9%** | **Diversified Financial Services — 5.9%** | **Diversified Financial Services — 5.9%** |
| Ally Financial Inc. |  |  |
| 5.75%, 11/20/25<sup>(b)</sup> | &nbsp;&nbsp; 280 | 281007 |
| 6.70%, 02/14/33<sup>(b)</sup> | &nbsp;&nbsp; 158 | 158405 |
| Bread Financial Holdings Inc., 9.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 270 | 284876 |
| Burford Capital Global Finance LLC |  |  |
| 6.25%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 100 | 99786 |
| 9.25%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 200 | 214708 |
| Coinbase Global Inc. |  |  |
| 3.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 300 | 267904 |
| 3.63%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 195 | 162598 |
| Credit Acceptance Corp. |  |  |
| 6.63%, 03/15/26 | &nbsp;&nbsp; 95 | 94975 |
| 9.25%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 173 | 183393 |
| Encore Capital Group Inc. |  |  |
| 8.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 150 | 158134 |
| 9.25%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 125 | 133186 |
| Focus Financial Partners LLC, 6.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 300 | 298070 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; 308 | 318231 |
| goeasy Ltd. |  |  |
| 7.63%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 178 | 182927 |
| 9.25%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 168 | 179176 |
| Series 144\*, 6.88%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 95 | 96093 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp. |  |  |
| 5.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 270 | 249231 |
| 6.63%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 150 | 149246 |
| Nationstar Mortgage Holdings Inc. |  |  |
| 5.00%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 99 | 98054 |
| 5.13%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 186 | 174270 |
| 5.50%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 244 | 238393 |
| 5.75%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 157 | 150338 |
| 6.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 185 | 184284 |
| 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 205 | 205151 |
| 7.13%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 316 | 323129 |
| OneMain Finance Corp. |  |  |
| 3.50%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 210 | 200397 |
| 3.88%, 09/15/28 | &nbsp;&nbsp; 150 | 138462 |
| 4.00%, 09/15/30 | &nbsp;&nbsp; 252 | 221812 |
| 5.38%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 215 | 205945 |
| 6.63%, 01/15/28 | &nbsp;&nbsp; 219 | 222268 |
| 6.63%, 05/15/29 | &nbsp;&nbsp; 70 | 70000 |
| 7.13%, 03/15/26 | &nbsp;&nbsp; 428 | 438486 |
| 7.13%, 11/15/31 | &nbsp;&nbsp; 218 | 220341 |
| 7.50%, 05/15/31 | &nbsp;&nbsp; 207 | 211662 |
| 7.88%, 03/15/30<sup>(b)</sup> | &nbsp;&nbsp; 222 | 230997 |
| 9.00%, 01/15/29 | &nbsp;&nbsp; 246 | 260329 |
| PennyMac Financial Services Inc. |  |  |
| 4.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 197 | 183865 |
| 5.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 143 | 136779 |
| 7.13%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 193 | 195891 |
| 7.88%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 204 | 213973 |
| PRA Group Inc., 8.88%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 115 | 119381 |
| SLM Corp., 3.13%, 11/02/26 | &nbsp;&nbsp; 153 | 144894 |
| StoneX Group Inc., 7.88%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 145 | 152625 |
| Synchrony Financial, 7.25%, 02/02/33 | &nbsp;&nbsp; 254 | 259755 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| United Wholesale Mortgage LLC |  |  |
| 5.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; $200 | $199188 |
| 5.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 202 | 192573 |
| 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 163 | 160281 |
| VFH Parent LLC / Valor Co-Issuer Inc., 7.50%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 134 | 137808 |
|  |  | 9403277 |
| **Electric — 0.2%** | **Electric — 0.2%** | **Electric — 0.2%** |
| NRG Energy Inc., 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 273 | 269628 |
| **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** |
| Energizer Holdings Inc. |  |  |
| 4.38%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 216 | 201853 |
| 4.75%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 172 | 165493 |
| WESCO Distribution Inc. |  |  |
| 6.38%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 254 | 259076 |
| 6.63%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 250 | 256318 |
| 7.25%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 355 | 363262 |
|  |  | 1246002 |
| **Electronics — 0.9%** | **Electronics — 0.9%** | **Electronics — 0.9%** |
| Atkore Inc., 4.25%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 135 | 121327 |
| Coherent Corp., 5.00%, 12/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 288 | 276156 |
| Sensata Technologies BV |  |  |
| 4.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 265 | 247626 |
| 5.88%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 150 | 148431 |
| Sensata Technologies Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 214 | 191110 |
| 4.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 145 | 135303 |
| 6.63%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 125 | 126616 |
| TTM Technologies Inc., 4.00%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 155 | 144885 |
|  |  | 1391454 |
| **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** |
| Arcosa Inc. |  |  |
| 4.38%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 122 | 114978 |
| 6.88%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 150 | 153860 |
| Dycom Industries Inc., 4.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 133 | 125473 |
| TopBuild Corp. |  |  |
| 3.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 116 | 106245 |
| 4.13%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 135 | 120359 |
| Tutor Perini Corp., 11.88%, 04/30/29<sup>(a)</sup> | &nbsp;&nbsp; 114 | 124518 |
|  |  | 745433 |
| **Entertainment — 1.8%** | **Entertainment — 1.8%** | **Entertainment — 1.8%** |
| Cedar Fair LP/Canada's Wonderland Co./Magnum <br> Management Corp./Millennium Op<br>|  |  |
| 5.25%, 07/15/29 | &nbsp;&nbsp; 134 | 129068 |
| 5.38%, 04/15/27 | &nbsp;&nbsp; 120 | 118883 |
| Cinemark USA Inc. |  |  |
| 5.25%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 196 | 192446 |
| 7.00%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 171 | 175420 |
| Live Nation Entertainment Inc. |  |  |
| 3.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 169 | 160242 |
| 4.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 250 | 243155 |
| 6.50%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 351 | 355775 |
| Merlin Entertainments Group U.S. Holdings Inc., <br> 7.38%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 145 | 142254 |
| Merlin Entertainments Ltd., 5.75%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 95 | 93642 |
| Motion Bondco DAC, 6.63%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 110 | 103825 |
| SeaWorld Parks & Entertainment Inc., 5.25%, <br> 08/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 232 | 222951 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Six Flags Entertainment Corp./DE |  |  |
| 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; $149 | $148022 |
| 7.25%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 275 | 281853 |
| Six Flags Entertainment Corp./Six Flags Theme <br> Parks Inc., 6.63%, 05/01/32<sup>(a)</sup><br>| &nbsp;&nbsp; 241 | 245455 |
| Vail Resorts Inc., 6.50%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 180 | 184387 |
|  |  | 2797378 |
| **Environmental Control — 1.2%** | **Environmental Control — 1.2%** | **Environmental Control — 1.2%** |
| Clean Harbors Inc. |  |  |
| 4.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 163 | 160585 |
| 6.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 143 | 143846 |
| Enviri Corp., 5.75%, 07/31/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 118 | 113676 |
| GFL Environmental Inc. |  |  |
| 3.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 202 | 189364 |
| 4.00%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 188998 |
| 4.38%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 177 | 165862 |
| 4.75%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 225 | 215002 |
| 6.75%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 290 | 298586 |
| Reworld Holding Corp. |  |  |
| 4.88%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 204 | 190233 |
| 5.00%, 09/01/30 | &nbsp;&nbsp; 132 | 121222 |
| Stericycle Inc., 3.88%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 126 | 124603 |
|  |  | 1911977 |
| **Food — 2.5%** | **Food — 2.5%** | **Food — 2.5%** |
| B&G Foods Inc. |  |  |
| 5.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 163 | 158136 |
| 8.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 223 | 231692 |
| Lamb Weston Holdings Inc. |  |  |
| 4.13%, 01/31/30<sup>(a)</sup> | &nbsp;&nbsp; 283 | 262743 |
| 4.38%, 01/31/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 183106 |
| 4.88%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 144 | 141015 |
| Post Holdings Inc. |  |  |
| 4.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 310 | 282312 |
| 4.63%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 377 | 352525 |
| 5.50%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 371 | 361866 |
| 5.63%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 95 | 95835 |
| 6.25%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 297 | 300698 |
| 6.25%, 10/15/34<sup>(a)</sup> | &nbsp;&nbsp; 165 | 163106 |
| 6.38%, 03/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 329 | 325782 |
| TreeHouse Foods Inc., 4.00%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; 176 | 159748 |
| U.S. Foods Inc. |  |  |
| 4.63%, 06/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 160 | 151841 |
| 4.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 250 | 240919 |
| 5.75%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 145 | 142831 |
| 6.88%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 141 | 145177 |
| 7.25%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 137 | 142496 |
| United Natural Foods Inc., 6.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 144 | 139043 |
|  |  | 3980871 |
| **Food Service — 0.2%** | **Food Service — 0.2%** | **Food Service — 0.2%** |
| Aramark Services Inc., 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 305 | 299594 |
| **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** |
| Domtar Corp., 6.75%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 200 | 182969 |
| Glatfelter Corp. |  |  |
| 4.75%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 130 | 116807 |
| 7.25%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 225 | 223090 |
| Mercer International Inc. |  |  |
| 5.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 263 | 227023 |
| 12.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 40 | 42377 |
|  |  | 792266 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products — 0.9%** | **Health Care - Products — 0.9%** | **Health Care - Products — 0.9%** |
| Avantor Funding Inc. |  |  |
| 3.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; $213 | $196458 |
| 4.63%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 465 | 449487 |
| Embecta Corp., 5.00%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 155 | 140514 |
| Hologic Inc. |  |  |
| 3.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 265 | 243374 |
| 4.63%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 115 | 112545 |
| Teleflex Inc. |  |  |
| 4.25%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 156 | 149599 |
| 4.63%, 11/15/27 | &nbsp;&nbsp; 135 | 132605 |
|  |  | 1424582 |
| **Health Care - Services — 6.3%** | **Health Care - Services — 6.3%** | **Health Care - Services — 6.3%** |
| Acadia Healthcare Co. Inc. |  |  |
| 5.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 138 | 129285 |
| 5.50%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 118 | 114488 |
| Catalent Pharma Solutions Inc. |  |  |
| 3.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 140 | 136125 |
| 3.50%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 180 | 174500 |
| 5.00%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 120 | 119212 |
| Charles River Laboratories International Inc. |  |  |
| 3.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 134 | 122856 |
| 4.00%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 150 | 134196 |
| 4.25%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 150 | 142812 |
| CHS/Community Health Systems Inc. |  |  |
| 4.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 305 | 254507 |
| 5.25%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 434 | 379164 |
| 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 504 | 491393 |
| 6.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 176 | 165731 |
| 6.13%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 347 | 271571 |
| 6.88%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 180 | 148959 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 348 | 293523 |
| 8.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 195 | 194512 |
| 10.88%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 629 | 674655 |
| DaVita Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 427 | 371570 |
| 4.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 766 | 704595 |
| 6.88%, 09/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 276 | 277353 |
| Encompass Health Corp. |  |  |
| 4.50%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 214 | 208104 |
| 4.63%, 04/01/31 | &nbsp;&nbsp; 105 | 98823 |
| 4.75%, 02/01/30 | &nbsp;&nbsp; 227 | 218336 |
| Fortrea Holdings Inc., 7.50%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 171 | 168342 |
| HealthEquity Inc., 4.50%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 166 | 157917 |
| IQVIA Inc. |  |  |
| 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 245 | 242384 |
| 5.00%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 255 | 251799 |
| 6.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 125 | 128909 |
| Molina Healthcare Inc. |  |  |
| 3.88%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 175 | 158470 |
| 3.88%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 225 | 199568 |
| 4.38%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 235 | 225511 |
| Pediatrix Medical Group Inc., 5.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 123 | 117639 |
| Surgery Center Holdings Inc., 7.25%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 219 | 225401 |
| Tenet Healthcare Corp. |  |  |
| 4.25%, 06/01/29 | &nbsp;&nbsp; 350 | 331252 |
| 4.38%, 01/15/30 | &nbsp;&nbsp; 375 | 351671 |
| 4.63%, 06/15/28 | &nbsp;&nbsp; 150 | 145109 |
| 6.13%, 10/01/28 | &nbsp;&nbsp; 650 | 649736 |
| 6.13%, 06/15/30 | &nbsp;&nbsp; 500 | 501626 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| 6.75%, 05/15/31 | &nbsp;&nbsp; $350 | $357796 |
|  |  | 10039400 |
| **Holding Companies - Diversified — 0.2%** | **Holding Companies - Diversified — 0.2%** | **Holding Companies - Diversified — 0.2%** |
| Compass Group Diversified Holdings LLC, 5.25%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 297 | 286069 |
| **Home Builders — 0.7%** | **Home Builders — 0.7%** | **Home Builders — 0.7%** |
| Century Communities Inc. |  |  |
| 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 153 | 139089 |
| 6.75%, 06/01/27 | &nbsp;&nbsp; 145 | 145874 |
| K Hovnanian Enterprises Inc., 11.75%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 81 | 89272 |
| LGI Homes Inc., 8.75%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 119 | 125299 |
| Taylor Morrison Communities Inc. |  |  |
| 5.13%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 155 | 150188 |
| 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 125 | 124967 |
| 5.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 151 | 151836 |
| Thor Industries Inc., 4.00%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 134 | 122271 |
|  |  | 1048796 |
| **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** |
| Tempur Sealy International Inc. |  |  |
| 3.88%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 215 | 187186 |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 252 | 232073 |
|  |  | 419259 |
| **Hotels, Restaurants & Leisure — 0.2%** | **Hotels, Restaurants & Leisure — 0.2%** | **Hotels, Restaurants & Leisure — 0.2%** |
| 1011778 BC ULC/New Red Finance Inc., 6.13%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 338 | 343591 |
| **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** |
| ACCO Brands Corp., 4.25%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 178 | 163267 |
| Central Garden & Pet Co. |  |  |
| 4.13%, 10/15/30<sup>(b)</sup> | &nbsp;&nbsp; 132 | 119725 |
| 4.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; 125 | 111905 |
|  |  | 394897 |
| **Housewares — 0.7%** | **Housewares — 0.7%** | **Housewares — 0.7%** |
| Newell Brands Inc. |  |  |
| 5.70%, 04/01/26 | &nbsp;&nbsp; 532 | 533270 |
| 6.38%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 140 | 141712 |
| 6.63%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 156 | 158989 |
| 6.88%, 04/01/36<sup>(b)</sup> | &nbsp;&nbsp; 140 | 139321 |
| 7.00%, 04/01/46 | &nbsp;&nbsp; 180 | 166851 |
|  |  | 1140143 |
| **Insurance — 0.6%** | **Insurance — 0.6%** | **Insurance — 0.6%** |
| Assurant Inc., 7.00%, 03/27/48, <br> (3-mo. LIBOR US + 4.135%)<sup>(c)</sup><br>| &nbsp;&nbsp; 110 | 112103 |
| Baldwin Insurance Group Holdings LLC/Baldwin <br> Insurance Group Holdings Finance, 7.13%, <br> 05/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 161 | 164608 |
| Liberty Mutual Group Inc. |  |  |
| 4.13%, 12/15/51, (5-year CMT + 3.315%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 155 | 145912 |
| 4.30%, 02/01/61<sup>(a)</sup> | &nbsp;&nbsp; 222 | 146452 |
| 7.80%, 03/07/87<sup>(a)</sup> | &nbsp;&nbsp; 120 | 132859 |
| Ryan Specialty LLC |  |  |
| 4.38%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 125 | 118536 |
| 5.88%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp; 150 | 149366 |
|  |  | 969836 |
| **Internet — 2.2%** | **Internet — 2.2%** | **Internet — 2.2%** |
| Cablevision Lightpath LLC |  |  |
| 3.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 125 | 118700 |
| 5.63%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 100 | 92980 |
| Cars.com Inc., 6.38%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 114 | 113955 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| Cogent Communications Group Inc./Cogent <br> Communications Finance Inc., 7.00%, 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; $70 | $70350 |
| Cogent Communications Group LLC |  |  |
| 3.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 121 | 117660 |
| 7.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 184 | 186037 |
| Gen Digital Inc. |  |  |
| 6.75%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 242 | 246217 |
| 7.13%, 09/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 150 | 155278 |
| Go Daddy Operating Co. LLC/GD Finance Co. Inc. |  |  |
| 3.50%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 229 | 211174 |
| 5.25%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 160 | 158037 |
| GrubHub Holdings Inc., 5.50%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 164 | 152737 |
| Rakuten Group Inc. |  |  |
| 5.13%, (5-year CMT + 4.578%)<sup>(a)(c)(d)</sup> | &nbsp;&nbsp; 210 | 201295 |
| 6.25%, (5-year CMT + 4.956%)<sup>(a)(c)(d)</sup> | &nbsp;&nbsp; 275 | 248852 |
| 9.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 595 | 641455 |
| 11.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 535 | 581334 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(a)</sup> | &nbsp;&nbsp; 81 | 81960 |
| Ziff Davis Inc., 4.63%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 138 | 126292 |
|  |  | 3504313 |
| **Iron & Steel — 1.1%** | **Iron & Steel — 1.1%** | **Iron & Steel — 1.1%** |
| ATI Inc., 7.25%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; 135 | 139803 |
| Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 190 | 191390 |
| Carpenter Technology Corp., 6.38%, 07/15/28 | &nbsp;&nbsp; 110 | 109869 |
| Cleveland-Cliffs Inc. |  |  |
| 5.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 130 | 129820 |
| 6.75%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 222 | 221816 |
| 6.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 210 | 210728 |
| 7.00%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 396 | 396456 |
| 7.38%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp; 135 | 136015 |
| U.S. Steel Corp., 6.88%, 03/01/29 | &nbsp;&nbsp; 152 | 153214 |
|  |  | 1689111 |
| **Leisure Time — 3.2%** | **Leisure Time — 3.2%** | **Leisure Time — 3.2%** |
| Life Time Inc. |  |  |
| 5.75%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 252 | 251957 |
| 6.00%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 140 | 139317 |
| 8.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 135 | 135611 |
| NCL Corp. Ltd. |  |  |
| 5.88%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 366 | 365502 |
| 5.88%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 272 | 271713 |
| 7.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 198 | 209611 |
| 8.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 258 | 273110 |
| 8.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 150 | 157126 |
| NCL Finance Ltd., 6.13%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 148 | 148884 |
| Royal Caribbean Cruises Ltd. |  |  |
| 3.70%, 03/15/28 | &nbsp;&nbsp; 145 | 138144 |
| 4.25%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; 205 | 201186 |
| 5.38%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 304 | 303397 |
| 5.50%, 08/31/26<sup>(a)</sup> | &nbsp;&nbsp; 290 | 290261 |
| 5.50%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 408 | 408014 |
| 5.63%, 09/30/31<sup>(a)</sup> | &nbsp;&nbsp; 400 | 398701 |
| 6.00%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp; 567 | 570485 |
| 6.25%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 350 | 356608 |
| Sabre GLBL Inc. |  |  |
| 8.63%, 06/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 260 | 250960 |
| 11.25%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 178 | 183131 |
|  |  | 5053718 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging — 2.3%** | **Lodging — 2.3%** | **Lodging — 2.3%** |
| Hilton Domestic Operating Co. Inc. |  |  |
| 3.63%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; $448 | $393589 |
| 3.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 212 | 197546 |
| 4.00%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 298 | 271552 |
| 4.88%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 282 | 273099 |
| 5.75%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 120 | 120132 |
| 5.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 160 | 161370 |
| 5.88%, 03/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 315 | 315364 |
| 6.13%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 115 | 116187 |
| Hilton Grand Vacations Borrower Escrow LLC/Hilton <br> Grand Vacations Borrower Esc<br>|  |  |
| 4.88%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 134 | 119739 |
| 5.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 252 | 236163 |
| 6.63%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 260 | 259982 |
| Hilton Worldwide Finance LLC/Hilton Worldwide <br> Finance Corp., 4.88%, 04/01/27<br>| &nbsp;&nbsp; 150 | 148470 |
| Marriott Ownership Resorts Inc., 4.50%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 130 | 120553 |
| Studio City Finance Ltd. |  |  |
| 5.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 345 | 311484 |
| 6.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 150 | 144709 |
| Travel & Leisure Co. |  |  |
| 4.50%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 184 | 171876 |
| 6.00%, 04/01/27 | &nbsp;&nbsp; 142 | 143258 |
| 6.63%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp; 172 | 173334 |
|  |  | 3678407 |
| **Machinery — 1.2%** | **Machinery — 1.2%** | **Machinery — 1.2%** |
| Chart Industries Inc. |  |  |
| 7.50%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp; 406 | 421834 |
| 9.50%, 01/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 150 | 161050 |
| Esab Corp., 6.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 218 | 221850 |
| GrafTech Finance Inc., 4.63%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 125 | 88783 |
| GrafTech Global Enterprises Inc., 9.88%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 110 | 92397 |
| Mueller Water Products Inc., 4.00%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 141 | 131146 |
| SPX FLOW Inc., 8.75%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 132 | 137150 |
| Terex Corp. |  |  |
| 5.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 172 | 165481 |
| 6.25%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 210 | 208992 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 267 | 254329 |
|  |  | 1883012 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| Hillenbrand Inc., 6.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 148 | 148614 |
| Trinity Industries Inc., 7.75%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 171 | 176944 |
|  |  | 325558 |
| **Media — 9.9%** | **Media — 9.9%** | **Media — 9.9%** |
| Cable One Inc., 4.00%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 199 | 156705 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| 4.25%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 215 | 186580 |
| 4.25%, 01/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 266 | 212917 |
| 4.50%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 225 | 200812 |
| 4.50%, 05/01/32 | &nbsp;&nbsp; 245 | 208250 |
| 4.50%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; 360 | 299342 |
| 4.75%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 472 | 429508 |
| 4.75%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 200 | 173101 |
| 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 106 | 102579 |
| 5.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 391 | 383012 |
| 5.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 174 | 166388 |
| 5.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 110 | 109699 |
| 6.38%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 485 | 480273 |
| 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 150 | 152511 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| CSC Holdings LLC |  |  |
| 3.38%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; $215 | $154236 |
| 4.13%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 275 | 202729 |
| 4.50%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 380 | 278967 |
| 4.63%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 585 | 293910 |
| 5.00%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 120 | 58513 |
| 5.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 225 | 192547 |
| 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 325 | 289251 |
| 5.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 555 | 293678 |
| 6.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 405 | 342095 |
| 7.50%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 255 | 168031 |
| 11.25%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 225 | 219375 |
| 11.75%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 595 | 580346 |
| GCI LLC, 4.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 175 | 165098 |
| Gray Television Inc. |  |  |
| 4.75%, 10/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 226 | 142787 |
| 5.38%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 370 | 221691 |
| 7.00%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 202 | 196766 |
| 10.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 360 | 373974 |
| iHeartCommunications Inc. |  |  |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 120 | 73539 |
| 5.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 190 | 127861 |
| 6.38%, 05/01/26 | &nbsp;&nbsp; 205 | 173210 |
| 8.38%, 05/01/27 | &nbsp;&nbsp; 220 | 115806 |
| Liberty Interactive LLC, 8.25%, 02/01/30 | &nbsp;&nbsp; 125 | 64234 |
| McGraw-Hill Education Inc. |  |  |
| 5.75%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 259 | 254013 |
| 7.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; 172 | 176280 |
| 8.00%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 182 | 183229 |
| Nexstar Media Inc. |  |  |
| 4.75%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 270 | 253791 |
| 5.63%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 495 | 486487 |
| Scripps Escrow II Inc., 3.88%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 148 | 115098 |
| Scripps Escrow Inc., 5.88%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 117 | 103179 |
| Sinclair Television Group Inc. |  |  |
| 4.13%, 12/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 235 | 179774 |
| 5.50%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 144 | 99187 |
| Sirius XM Radio Inc. |  |  |
| 3.13%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 279 | 267867 |
| 3.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 417 | 358725 |
| 4.00%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 586 | 548035 |
| 4.13%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 418 | 373983 |
| 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 428 | 419596 |
| 5.50%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 363 | 352264 |
| TEGNA Inc. |  |  |
| 4.63%, 03/15/28 | &nbsp;&nbsp; 272 | 256471 |
| 4.75%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 152 | 150678 |
| 5.00%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 315 | 293873 |
| Telenet Finance Luxembourg Notes SARL, 5.50%, <br> 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 200 | 194620 |
| Univision Communications Inc. |  |  |
| 4.50%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 307 | 272738 |
| 6.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 406 | 403424 |
| 7.38%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp; 272 | 261036 |
| 8.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 413 | 419697 |
| 8.50%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp; 215 | 211311 |
| VZ Secured Financing BV, 5.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 440 | 394924 |
| Ziggo Bond Co. BV |  |  |
| 5.13%, 02/28/30<sup>(a)</sup> | &nbsp;&nbsp; 165 | 149340 |
| 6.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 160 | 159709 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Ziggo BV, 4.88%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; $295 | $273462 |
|  |  | 15603112 |
| **Metal Fabricate & Hardware — 0.1%** | **Metal Fabricate & Hardware — 0.1%** | **Metal Fabricate & Hardware — 0.1%** |
| Advanced Drainage Systems Inc., 6.38%, <br> 06/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 150 | 151426 |
| **Mining — 0.6%** | **Mining — 0.6%** | **Mining — 0.6%** |
| Compass Minerals International Inc., 6.75%, <br> 12/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 139 | 137065 |
| Constellium SE, 3.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 125 | 113158 |
| Hecla Mining Co., 7.25%, 02/15/28 | &nbsp;&nbsp; 141 | 142512 |
| Kaiser Aluminum Corp. |  |  |
| 4.50%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 176 | 156992 |
| 4.63%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 136 | 129695 |
| New Gold Inc., 7.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 112 | 113782 |
| Taseko Mines Ltd., 8.25%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp; 145 | 149813 |
|  |  | 943017 |
| **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** |
| Xerox Holdings Corp. |  |  |
| 5.50%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 213 | 174949 |
| 8.88%, 11/30/29<sup>(a)</sup> | &nbsp;&nbsp; 132 | 114975 |
| Zebra Technologies Corp., 6.50%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 150 | 153462 |
|  |  | 443386 |
| **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** |
| Steelcase Inc., 5.13%, 01/18/29 | &nbsp;&nbsp; 130 | 125288 |
| **Packaging & Containers — 3.0%** | **Packaging & Containers — 3.0%** | **Packaging & Containers — 3.0%** |
| Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC<br>|  |  |
| 3.25%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 175 | 157761 |
| 4.00%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 285 | 250069 |
| 6.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 150 | 149627 |
| Ardagh Packaging Finance PLC/Ardagh Holdings <br> USA Inc.<br>|  |  |
| 4.13%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 300 | 261055 |
| 5.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 470 | 281957 |
| Ball Corp. |  |  |
| 2.88%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; 374 | 325345 |
| 3.13%, 09/15/31 | &nbsp;&nbsp; 254 | 219608 |
| 6.00%, 06/15/29 | &nbsp;&nbsp; 275 | 279316 |
| 6.88%, 03/15/28 | &nbsp;&nbsp; 204 | 209677 |
| Berry Global Inc., 5.63%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 152 | 151759 |
| Cascades Inc./Cascades USA Inc., 5.38%, <br> 01/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 133 | 130730 |
| Crown Americas LLC, 5.25%, 04/01/30 | &nbsp;&nbsp; 151 | 148567 |
| Crown Americas LLC/Crown Americas Capital Corp. <br> V, 4.25%, 09/30/26<br>| &nbsp;&nbsp; 123 | 120382 |
| OI European Group BV, 4.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 101 | 91481 |
| Owens-Brockway Glass Container Inc. |  |  |
| 6.63%, 05/13/27<sup>(a)</sup> | &nbsp;&nbsp; 167 | 166258 |
| 7.25%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 211 | 207813 |
| Sealed Air Corp. |  |  |
| 4.00%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 126 | 120651 |
| 5.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 124 | 119791 |
| 6.50%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 116 | 117721 |
| 6.88%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp; 136 | 144069 |
| Sealed Air Corp./Sealed Air Corp. U.S. |  |  |
| 6.13%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 204 | 205927 |
| 7.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 119 | 123521 |
| Silgan Holdings Inc., 4.13%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 153 | 146447 |
| TriMas Corp., 4.13%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 141 | 131658 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| Trivium Packaging Finance BV |  |  |
| 5.50%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; $275 | $272527 |
| 8.50%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 185 | 184737 |
|  |  | 4718454 |
| **Pharmaceuticals — 3.8%** | **Pharmaceuticals — 3.8%** | **Pharmaceuticals — 3.8%** |
| 180 Medical Inc., 3.88%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 115 | 107079 |
| AdaptHealth LLC |  |  |
| 4.63%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 148 | 134477 |
| 5.13%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 171 | 156805 |
| Bausch Health Americas Inc. |  |  |
| 8.50%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 175 | 140430 |
| 9.25%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 160 | 154532 |
| Bausch Health Companies Inc. |  |  |
| 4.88%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 460 | 354787 |
| 5.00%, 01/30/28<sup>(a)</sup> | &nbsp;&nbsp; 117 | 74885 |
| 5.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 121 | 69133 |
| 5.25%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; 235 | 137724 |
| 5.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 125 | 67313 |
| 5.50%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 440 | 431464 |
| 5.75%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 135 | 112050 |
| 6.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 293 | 265495 |
| 6.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 247 | 153899 |
| 9.00%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 155 | 152022 |
| 11.00%, 09/30/28<sup>(a)</sup> | &nbsp;&nbsp; 525 | 483163 |
| BellRing Brands Inc., 7.00%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 236 | 245489 |
| Elanco Animal Health Inc., 6.65%, 08/28/28 | &nbsp;&nbsp; 196 | 201333 |
| Grifols SA, 4.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 190 | 175442 |
| HLF Financing SARL LLC/Herbalife International Inc. |  |  |
| 4.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 181 | 124066 |
| 12.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 217 | 218259 |
| Jazz Securities DAC, 4.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 385 | 364731 |
| Option Care Health Inc., 4.38%, 10/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 148 | 136051 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV |  |  |
| 4.13%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; 555 | 525825 |
| 5.13%, 04/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 565 | 515168 |
| 6.75%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp; 150 | 150497 |
| 7.88%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp; 135 | 139298 |
| Owens & Minor Inc. |  |  |
| 4.50%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 137 | 123408 |
| 6.63%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 155 | 148064 |
|  |  | 6062889 |
| **Real Estate — 1.2%** | **Real Estate — 1.2%** | **Real Estate — 1.2%** |
| Anywhere Real Estate Group LLC/Anywhere <br> Co-Issuer Corp., 7.00%, 04/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 384 | 336065 |
| Anywhere Real Estate Group LLC/Realogy <br> Co-Issuer Corp.<br>|  |  |
| 5.25%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15 | 11505 |
| 5.75%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 126 | 103506 |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| 6.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 188 | 189028 |
| 8.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 117 | 126012 |
| Howard Hughes Corp. (The) |  |  |
| 4.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 178 | 164130 |
| 4.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 178 | 159494 |
| 5.38%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 241 | 234238 |
| Kennedy-Wilson Inc. |  |  |
| 4.75%, 03/01/29 | &nbsp;&nbsp; 178 | 163309 |
| 4.75%, 02/01/30 | &nbsp;&nbsp; 163 | 145627 |
| 5.00%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 163 | 143901 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate (continued)** | **Real Estate (continued)** | **Real Estate (continued)** |
| Newmark Group Inc., 7.50%, 01/12/29 | &nbsp;&nbsp; $125 | $132320 |
|  |  | 1909135 |
| **Real Estate Investment Trusts — 5.9%** | **Real Estate Investment Trusts — 5.9%** | **Real Estate Investment Trusts — 5.9%** |
| Apollo Commercial Real Estate Finance Inc., 4.63%, <br> 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 139 | 120673 |
| Brandywine Operating Partnership LP |  |  |
| 3.95%, 11/15/27 | &nbsp;&nbsp; 132 | 123498 |
| 8.88%, 04/12/29<sup>(b)</sup> | &nbsp;&nbsp; 111 | 120296 |
| Brookfield Property REIT Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC<br>|  |  |
| 4.50%, 04/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 215 | 207202 |
| 5.75%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 252 | 250036 |
| CTR Partnership LP/CareTrust Capital Corp., 3.88%, <br> 06/30/28<sup>(a)</sup><br>| &nbsp;&nbsp; 121 | 114572 |
| Hudson Pacific Properties LP |  |  |
| 3.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 112 | 81847 |
| 3.95%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 119 | 106807 |
| 4.65%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 155 | 124119 |
| Iron Mountain Inc. |  |  |
| 4.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 316 | 293473 |
| 4.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 270 | 265034 |
| 4.88%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 300 | 288655 |
| 5.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 135 | 131528 |
| 5.25%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 221 | 216977 |
| 5.25%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 386 | 373300 |
| 5.63%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 162 | 157122 |
| 7.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 277 | 284831 |
| Iron Mountain Information Management Services Inc., <br> 5.00%, 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 198 | 186720 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp.<br>|  |  |
| 4.25%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 177 | 171303 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 186 | 177233 |
| 7.00%, 07/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 130 | 135025 |
| MPT Operating Partnership LP/MPT Finance Corp. |  |  |
| 3.50%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 365 | 258293 |
| 4.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 250 | 194444 |
| 5.00%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 400 | 353121 |
| 5.25%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 165 | 156158 |
| Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer<br>|  |  |
| 4.88%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 220 | 209384 |
| 5.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 203 | 200961 |
| 7.00%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 165 | 168860 |
| Pebblebrook Hotel LP/PEB Finance Corp., 6.38%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 46 | 45913 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| 4.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 160 | 153064 |
| 4.75%, 10/15/27 | &nbsp;&nbsp; 181 | 177377 |
| 6.50%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 277 | 280054 |
| 7.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 123 | 127470 |
| SBA Communications Corp. |  |  |
| 3.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 468 | 425863 |
| 3.88%, 02/15/27 | &nbsp;&nbsp; 402 | 389104 |
| Starwood Property Trust Inc. |  |  |
| 3.63%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 120 | 115200 |
| 4.38%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 140 | 135029 |
| 6.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 100 | 98093 |
| 7.25%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 192 | 197342 |
| Uniti Group LP/Uniti Fiber Holdings Inc./CSL <br> Capital LLC, 6.00%, 01/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 205 | 171597 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Uniti Group LP/Uniti Group Finance 2019 Inc./CSL <br> Capital LLC<br>|  |  |
| 4.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; $157 | $144337 |
| 6.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 305 | 262158 |
| 10.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 883 | 941183 |
| Vornado Realty LP, 2.15%, 06/01/26 | &nbsp;&nbsp; 127 | 120238 |
| XHR LP, 4.88%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 168 | 157704 |
|  |  | 9413198 |
| **Retail — 6.4%** | **Retail — 6.4%** | **Retail — 6.4%** |
| 1011778 BC ULC/New Red Finance Inc. |  |  |
| 3.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 200 | 184686 |
| 3.88%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 447 | 425813 |
| 4.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 861 | 778067 |
| 4.38%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 213 | 205042 |
| 5.63%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 125 | 124699 |
| Advance Auto Parts Inc., 3.90%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 158 | 140482 |
| Asbury Automotive Group Inc. |  |  |
| 4.50%, 03/01/28 | &nbsp;&nbsp; 128 | 123669 |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 215 | 201328 |
| 4.75%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; 119 | 111613 |
| 5.00%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 167 | 153707 |
| At Home Group Inc., 7.13%, 05/12/28, <br> (7.13% Cash and 8.63% PIK)<sup>(a)(e)</sup><br>| &nbsp;&nbsp; 125 | 56219 |
| Bath & Body Works Inc. |  |  |
| 5.25%, 02/01/28 | &nbsp;&nbsp; 139 | 137120 |
| 6.63%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 236 | 236417 |
| 6.75%, 07/01/36<sup>(b)</sup> | &nbsp;&nbsp; 160 | 160414 |
| 6.88%, 11/01/35 | &nbsp;&nbsp; 223 | 226250 |
| 7.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 125 | 129193 |
| Beacon Roofing Supply Inc., 6.50%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 178 | 180945 |
| Carvana Co. |  |  |
| 12.00%, 12/01/28, (12.00% PIK)<sup>(a)(e)</sup> | &nbsp;&nbsp; 216 | 228183 |
| 13.00%, 06/01/30, (13.00% PIK)<sup>(a)(e)</sup> | &nbsp;&nbsp; 446 | 487590 |
| 14.00%, 06/01/31, (14.00% PIK)<sup>(a)(e)</sup> | &nbsp;&nbsp; 558 | 666884 |
| Dave & Buster's Inc., 7.63%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 104 | 104000 |
| Evergreen Acqco 1 LP/TVI Inc., 9.75%, 04/26/28<sup>(a)</sup> | &nbsp;&nbsp; 125 | 131572 |
| Foot Locker Inc., 4.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 121 | 104218 |
| Group 1 Automotive Inc. |  |  |
| 4.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 191 | 178989 |
| 6.38%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 140 | 140561 |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of <br> America LLC, 4.75%, 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 205 | 203105 |
| Lithia Motors Inc. |  |  |
| 3.88%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 210 | 192660 |
| 4.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 148 | 135422 |
| 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 121 | 117379 |
| Michaels Companies Inc. (The) |  |  |
| 5.25%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 232 | 167721 |
| 7.88%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 312 | 166323 |
| Nordstrom Inc. |  |  |
| 4.25%, 08/01/31 | &nbsp;&nbsp; 116 | 102219 |
| 4.38%, 04/01/30 | &nbsp;&nbsp; 162 | 146882 |
| 5.00%, 01/15/44 | &nbsp;&nbsp; 263 | 197538 |
| Papa John's International Inc., 3.88%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 105 | 95796 |
| Patrick Industries Inc., 6.38%, 11/01/32<sup>(a)</sup> | &nbsp;&nbsp; 150 | 148349 |
| QVC Inc., 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 194 | 166898 |
| Sally Holdings LLC/Sally Capital Inc., 6.75%, <br> 03/01/32<sup>(b)</sup><br>| &nbsp;&nbsp; 180 | 182399 |
| Sonic Automotive Inc. |  |  |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 194 | 178106 |
| 4.88%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 139 | 124791 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Victoria's Secret & Co., 4.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $168 | $147873 |
| Walgreens Boots Alliance Inc. |  |  |
| 3.20%, 04/15/30 | &nbsp;&nbsp; 159 | 126223 |
| 3.45%, 06/01/26 | &nbsp;&nbsp; 403 | 387806 |
| 4.10%, 04/15/50 | &nbsp;&nbsp; 224 | 144545 |
| 4.80%, 11/18/44<sup>(b)</sup> | &nbsp;&nbsp; 238 | 175417 |
| 8.13%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 200 | 198481 |
| Yum! Brands Inc. |  |  |
| 3.63%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 310 | 280791 |
| 4.63%, 01/31/32 | &nbsp;&nbsp; 300 | 281415 |
| 4.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 222 | 214711 |
| 5.38%, 04/01/32 | &nbsp;&nbsp; 293 | 285143 |
|  |  | 10185654 |
| **Semiconductors — 0.5%** | **Semiconductors — 0.5%** | **Semiconductors — 0.5%** |
| ams-OSRAM AG, 12.25%, 03/30/29<sup>(a)</sup> | &nbsp;&nbsp; 110 | 114321 |
| Entegris Inc. |  |  |
| 3.63%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 109 | 99801 |
| 4.38%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 118 | 112579 |
| 5.95%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 265 | 264642 |
| ON Semiconductor Corp., 3.88%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 185 | 173597 |
| Synaptics Inc., 4.00%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 107 | 98200 |
|  |  | 863140 |
| **Software — 2.3%** | **Software — 2.3%** | **Software — 2.3%** |
| ACI Worldwide Inc., 5.75%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 112 | 111909 |
| Alteryx Inc., 8.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 125 | 127575 |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 189 | 185684 |
| Clarivate Science Holdings Corp. |  |  |
| 3.88%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 264 | 249287 |
| 4.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 272 | 257095 |
| Consensus Cloud Solutions Inc., 6.50%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 132 | 130540 |
| Dun & Bradstreet Corp. (The), 5.00%, 12/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 136 | 133245 |
| Dye & Durham Ltd., 8.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 138 | 146544 |
| Elastic NV, 4.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 170 | 157364 |
| Fair Isaac Corp. |  |  |
| 4.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 262 | 248738 |
| 5.25%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 110 | 110121 |
| Open Text Corp. |  |  |
| 3.88%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 272 | 255746 |
| 3.88%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 222 | 202676 |
| Open Text Holdings Inc. |  |  |
| 4.13%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 294 | 269885 |
| 4.13%, 12/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 184 | 165349 |
| Playtika Holding Corp., 4.25%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 161 | 145255 |
| PTC Inc., 4.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 150 | 143416 |
| RingCentral Inc., 8.50%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 138 | 145844 |
| Twilio Inc. |  |  |
| 3.63%, 03/15/29 | &nbsp;&nbsp; 163 | 150118 |
| 3.88%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 129 | 116432 |
| ZoomInfo Technologies LLC/ZoomInfo Finance Corp., <br> 3.88%, 02/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 194 | 176796 |
|  |  | 3629619 |
| **Telecommunications — 6.1%** | **Telecommunications — 6.1%** | **Telecommunications — 6.1%** |
| Ciena Corp., 4.00%, 01/31/30<sup>(a)</sup> | &nbsp;&nbsp; 103 | 95006 |
| CommScope LLC |  |  |
| 4.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 355 | 296504 |
| 6.00%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 425 | 415173 |
| 7.13%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 206 | 180126 |
| 8.25%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 255 | 240953 |
| CommScope Technologies LLC, 5.00%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 205 | 181393 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, <br> 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $550 | $522667 |
| Consolidated Communications Inc. |  |  |
| 5.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 121 | 112058 |
| 6.50%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 207 | 196613 |
| Frontier Communications Holdings LLC |  |  |
| 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 413 | 406216 |
| 5.88%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 307 | 306348 |
| 5.88%, 11/01/29 | &nbsp;&nbsp; 205 | 200219 |
| 6.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 343 | 336291 |
| 6.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 288 | 286602 |
| 8.63%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 247 | 265216 |
| 8.75%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 313 | 331528 |
| Intelsat Jackson Holdings SA, 6.50%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 854 | 803930 |
| Level 3 Financing Inc. |  |  |
| 3.88%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 212 | 162107 |
| 4.00%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 162 | 122561 |
| 4.50%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 240 | 192490 |
| 4.88%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 165 | 141118 |
| 10.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 188 | 209562 |
| 10.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 288 | 315500 |
| 10.75%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 239 | 267800 |
| 11.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 450 | 508190 |
| Lumen Technologies Inc., 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 119 | 118536 |
| Rogers Communications Inc., 5.25%, 03/15/82, <br> (5-year CMT + 3.590%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 223 | 218220 |
| Telecom Italia Capital SA |  |  |
| 6.00%, 09/30/34<sup>(b)</sup> | &nbsp;&nbsp; 143 | 138853 |
| 6.38%, 11/15/33<sup>(b)</sup> | &nbsp;&nbsp; 87 | 88193 |
| 7.20%, 07/18/36 | &nbsp;&nbsp; 187 | 189950 |
| 7.72%, 06/04/38 | &nbsp;&nbsp; 135 | 140391 |
| U.S. Cellular Corp., 6.70%, 12/15/33 | &nbsp;&nbsp; 163 | 176249 |
| Viasat Inc. |  |  |
| 6.50%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 132 | 99522 |
| 7.50%, 05/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 200 | 131325 |
| ViaSat Inc., 5.63%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 160 | 149591 |
| Viavi Solutions Inc., 3.75%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 154 | 139691 |
| Windstream Services LLC/Windstream Escrow <br> Finance Corp., 7.75%, 08/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 370 | 372008 |
| Zayo Group Holdings Inc. |  |  |
| 4.00%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 429 | 381847 |
| 6.13%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 295 | 253214 |
|  |  | 9693761 |
| **Transportation — 0.2%** | **Transportation — 0.2%** | **Transportation — 0.2%** |
| XPO Inc. |  |  |
| 7.13%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 155 | 160341 |
| 7.13%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 150 | 155695 |
|  |  | 316036 |
| **Total Long-Term Investments — 97.1%** <br>**(Cost: $156,483,822)** | **Total Long-Term Investments — 97.1%** <br>**(Cost: $156,483,822)** | 153689736 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 23.0%** | **Money Market Funds — 23.0%** | **Money Market Funds — 23.0%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 35201980 | 35226621 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 1230000 | $1230000 |
| **Total Short-Term Securities — 23.0%** <br>**(Cost: $36,432,797)** | **Total Short-Term Securities — 23.0%** <br>**(Cost: $36,432,797)** | 36456621 |
| **Total Investments — 120.1%** <br>**(Cost: $192,916,619)** | **Total Investments — 120.1%** <br>**(Cost: $192,916,619)** | 190146357 |
| **Liabilities in Excess of Other Assets — (20.1)%** | **Liabilities in Excess of Other Assets — (20.1)%** | (31769141)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $158377216 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> Perpetual security with no stated maturity date.

<sup>(e)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $26703210<br> $8513759 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $600 | $9052 | $35226621 | 35201980 | $163542 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 1040000<br> 190000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 1230000 | 1230000 | 57985 | &nbsp;&nbsp; — |
|  |  |  | $600 | $9052 | $36456621 |  | $221527 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $153689736 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $153689736 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® ESG Advanced High Yield Corporate Bond ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $36456621 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $36456621 |
|  | &nbsp;&nbsp; $36456621 | &nbsp;&nbsp; $153689736 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $190146357 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Fallen Angels USD Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Aerospace & Defense — 2.5%** | **Aerospace & Defense — 2.5%** | **Aerospace & Defense — 2.5%** |
| Bombardier Inc., 7.45%, 05/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; $15144 | $16514023 |
| Rolls-Royce PLC, 3.63%, 10/14/25<sup>(a)</sup> | &nbsp;&nbsp; 200 | 197248 |
| Spirit AeroSystems Inc. |  |  |
| 3.85%, 06/15/26 | &nbsp;&nbsp; 8640 | 8373647 |
| 4.60%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 20646 | 19677039 |
|  |  | 44761957 |
| **Airlines — 0.6%** | **Airlines — 0.6%** | **Airlines — 0.6%** |
| American Airlines Pass-Through Trust, Series <br> 2013-1, Class A, 4.00%, 01/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 2845 | 2787258 |
| Delta Air Lines Inc., 3.75%, 10/28/29<sup>(b)</sup> | &nbsp;&nbsp; 1350 | 1260192 |
| Hawaiian Airlines Pass Through Certificates, <br> Series 2013-1, Class A, 3.90%, 07/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; 2232 | 2161021 |
| Spirit Airlines Pass Through Trust, Series 2015-1, <br> Class A, 4.10%, 10/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 535 | 497723 |
| United Airlines Pass-Through Trust, Series A, <br> 3.10%, 04/07/30<sup>(b)</sup><br>| &nbsp;&nbsp; 4291 | 3869863 |
|  |  | 10576057 |
| **Apparel — 3.8%** | **Apparel — 3.8%** | **Apparel — 3.8%** |
| Under Armour Inc., 3.25%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 17265 | 16598321 |
| VF Corp. |  |  |
| 2.80%, 04/23/27<sup>(b)</sup> | &nbsp;&nbsp; 15483 | 14596285 |
| 2.95%, 04/23/30<sup>(b)</sup> | &nbsp;&nbsp; 24536 | 21174724 |
| 6.00%, 10/15/33<sup>(b)</sup> | &nbsp;&nbsp; 8032 | 8030604 |
| 6.45%, 11/01/37<sup>(b)</sup> | &nbsp;&nbsp; 8505 | 8656613 |
|  |  | 69056547 |
| **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** |
| Goodyear Tire & Rubber Co. (The), 7.00%, <br> 03/15/28<sup>(b)</sup><br>| &nbsp;&nbsp; 4258 | 4320842 |
| ZF North America Capital Inc., 4.75%, 04/29/25<sup>(a)</sup> | &nbsp;&nbsp; 250 | 248120 |
|  |  | 4568962 |
| **Banks — 6.7%** | **Banks — 6.7%** | **Banks — 6.7%** |
| Banc of California, 3.25%, 05/01/31, <br> (3-mo. CME Term SOFR + 2.520%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 11749 | 10737878 |
| Dresdner Funding Trust I, 8.15%, 06/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 29369 | 32666749 |
| UniCredit SpA |  |  |
| 5.86%, 06/19/32, <br> (5-year USD ICE Swap + 3.703%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 23498 | 23397147 |
| 7.30%, 04/02/34, <br> (5-year USD ICE Swap + 4.914%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 29091 | 30422484 |
| Valley National Bancorp., 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.36%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 8847 | 7516827 |
| Western Alliance Bancorp, 3.00%, 06/15/31, <br> (3-mo. CME Term SOFR + 2.250%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 17326 | 16053369 |
| Western Alliance Bank, 5.25%, 06/01/30, <br> (3-mo. CME Term SOFR + 5.120%)<sup>(c)</sup><br>| &nbsp;&nbsp; 1200 | 1174680 |
|  |  | 121969134 |
| **Chemicals — 3.0%** | **Chemicals — 3.0%** | **Chemicals — 3.0%** |
| HB Fuller Co., 4.00%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 8997 | 8740958 |
| Methanex Corp. |  |  |
| 5.25%, 12/15/29 | &nbsp;&nbsp; 20477 | 19786126 |
| 5.65%, 12/01/44<sup>(b)</sup> | &nbsp;&nbsp; 8871 | 7900844 |
| OCI NV, 6.70%, 03/16/33<sup>(a)</sup> | &nbsp;&nbsp; 18552 | 18523598 |
|  |  | 54951526 |
| **Commercial Services — 1.2%** | **Commercial Services — 1.2%** | **Commercial Services — 1.2%** |
| Port of Newcastle Investments Financing Pty Ltd., <br> 5.90%, 11/24/31<sup>(a)</sup><br>| &nbsp;&nbsp; 1100 | 1040485 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| United Rentals North America Inc., 3.88%, <br> 11/15/27<sup>(b)</sup><br>| &nbsp;&nbsp; $22160 | $21332667 |
|  |  | 22373152 |
| **Computers — 6.3%** | **Computers — 6.3%** | **Computers — 6.3%** |
| Crane NXT Co. |  |  |
| 4.20%, 03/15/48 | &nbsp;&nbsp; 11900 | 8223827 |
| 6.55%, 11/15/36<sup>(b)</sup> | &nbsp;&nbsp; 3345 | 3344768 |
| Seagate HDD Cayman |  |  |
| 4.09%, 06/01/29 | &nbsp;&nbsp; 14596 | 13765340 |
| 4.13%, 01/15/31 | &nbsp;&nbsp; 8130 | 7312348 |
| 4.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 14566 | 14383007 |
| 5.75%, 12/01/34<sup>(b)</sup> | &nbsp;&nbsp; 14487 | 14253753 |
| Western Digital Corp., 4.75%, 02/15/26 | &nbsp;&nbsp; 54048 | 53374707 |
|  |  | 114657750 |
| **Cosmetics & Personal Care — 1.5%** | **Cosmetics & Personal Care — 1.5%** | **Cosmetics & Personal Care — 1.5%** |
| Perrigo Finance Unlimited Co. |  |  |
| 4.90%, 12/15/44<sup>(b)</sup> | &nbsp;&nbsp; 9006 | 7219264 |
| 5.15%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 21623 | 20472929 |
|  |  | 27692193 |
| **Diversified Financial Services — 1.3%** | **Diversified Financial Services — 1.3%** | **Diversified Financial Services — 1.3%** |
| Brightsphere Investment Group Inc., 4.80%, <br> 07/27/26<sup>(b)</sup><br>| &nbsp;&nbsp; 8271 | 8096863 |
| Navient Corp., 5.63%, 08/01/33<sup>(b)</sup> | &nbsp;&nbsp; 17583 | 15177495 |
|  |  | 23274358 |
| **Electric — 0.6%** | **Electric — 0.6%** | **Electric — 0.6%** |
| FirstEnergy Corp. |  |  |
| 2.65%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; 800 | 712519 |
| Series B, 2.25%, 09/01/30 | &nbsp;&nbsp; 800 | 687603 |
| Series B, 3.90%, 07/15/27 | &nbsp;&nbsp; 300 | 292832 |
| TransAlta Corp., 6.50%, 03/15/40 | &nbsp;&nbsp; 8910 | 9151367 |
|  |  | 10844321 |
| **Energy - Alternate Sources — 1.0%** | **Energy - Alternate Sources — 1.0%** | **Energy - Alternate Sources — 1.0%** |
| Topaz Solar Farms LLC, 5.75%, 09/30/39<sup>(a)(b)</sup> | &nbsp;&nbsp; 18294 | 18104347 |
| **Engineering & Construction — 0.9%** | **Engineering & Construction — 0.9%** | **Engineering & Construction — 0.9%** |
| Fluor Corp., 4.25%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 17445 | 16763543 |
| **Entertainment — 1.9%** | **Entertainment — 1.9%** | **Entertainment — 1.9%** |
| Resorts World Las Vegas LLC/RWLV Capital Inc. |  |  |
| 4.63%, 04/16/29<sup>(d)</sup> | &nbsp;&nbsp; 29445 | 25965905 |
| 4.63%, 04/06/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10300 | 8730858 |
|  |  | 34696763 |
| **Food — 0.4%** | **Food — 0.4%** | **Food — 0.4%** |
| Safeway Inc., 7.25%, 02/01/31<sup>(b)</sup> | &nbsp;&nbsp; 7294 | 7435484 |
| **Health Care - Services — 2.1%** | **Health Care - Services — 2.1%** | **Health Care - Services — 2.1%** |
| Tenet Healthcare Corp., 6.88%, 11/15/31<sup>(b)</sup> | &nbsp;&nbsp; 10837 | 11617058 |
| Toledo Hospital (The) |  |  |
| 4.98%, 11/15/45<sup>(b)</sup> | &nbsp;&nbsp; 7958 | 5982419 |
| 6.02%, 11/15/48<sup>(b)</sup> | &nbsp;&nbsp; 11896 | 10561132 |
| Series B, 5.33%, 11/15/28<sup>(b)</sup> | &nbsp;&nbsp; 9424 | 9172391 |
|  |  | 37333000 |
| **Housewares — 3.1%** | **Housewares — 3.1%** | **Housewares — 3.1%** |
| Newell Brands Inc. |  |  |
| 5.70%, 04/01/26<sup>(b)</sup> | &nbsp;&nbsp; 36214 | 36300431 |
| 6.88%, 04/01/36<sup>(b)</sup> | &nbsp;&nbsp; 7781 | 7743274 |
| 7.00%, 04/01/46<sup>(b)</sup> | &nbsp;&nbsp; 12025 | 11146603 |
|  |  | 55190308 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Fallen Angels USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance — 2.8%** | **Insurance — 2.8%** | **Insurance — 2.8%** |
| Constellation Insurance Inc. |  |  |
| 6.63%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $6530 | $6397667 |
| 6.80%, 01/24/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13350 | 13173992 |
| Genworth Holdings Inc., 6.50%, 06/15/34<sup>(b)</sup> | &nbsp;&nbsp; 7913 | 7853647 |
| Liberty Mutual Group Inc., 7.80%, 03/07/87<sup>(a)(b)</sup> | &nbsp;&nbsp; 12898 | 14280171 |
| Provident Financing Trust I, 7.41%, 03/15/38 | &nbsp;&nbsp; 3930 | 4258113 |
| Wilton RE Ltd., 6.00%, <br> (5-year CMT + 5.266%)<sup>(a)(b)(c)(e)</sup><br>| &nbsp;&nbsp; 5025 | 4786312 |
|  |  | 50749902 |
| **Iron & Steel — 1.0%** | **Iron & Steel — 1.0%** | **Iron & Steel — 1.0%** |
| Allegheny Ludlum LLC, 6.95%, 12/15/25<sup>(b)</sup> | &nbsp;&nbsp; 3002 | 3047454 |
| Cleveland-Cliffs Inc., 6.25%, 10/01/40<sup>(b)</sup> | &nbsp;&nbsp; 7027 | 6448149 |
| U.S. Steel Corp., 6.65%, 06/01/37 | &nbsp;&nbsp; 8136 | 8259508 |
|  |  | 17755111 |
| **Leisure Time — 1.8%** | **Leisure Time — 1.8%** | **Leisure Time — 1.8%** |
| Carnival Corp. |  |  |
| 6.65%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 5907 | 6007253 |
| 7.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 3600 | 3794628 |
| Royal Caribbean Cruises Ltd. |  |  |
| 3.70%, 03/15/28 | &nbsp;&nbsp; 14756 | 14058313 |
| 7.50%, 10/15/27 | &nbsp;&nbsp; 8769 | 9293572 |
|  |  | 33153766 |
| **Lodging — 1.1%** | **Lodging — 1.1%** | **Lodging — 1.1%** |
| Travel & Leisure Co. |  |  |
| 6.00%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 12030 | 12136594 |
| 6.60%, 10/01/25 | &nbsp;&nbsp; 7962 | 8018637 |
|  |  | 20155231 |
| **Manufacturing — 0.6%** | **Manufacturing — 0.6%** | **Manufacturing — 0.6%** |
| Hillenbrand Inc., 5.00%, 09/15/26 | &nbsp;&nbsp; 10670 | 10578053 |
| **Media — 1.8%** | **Media — 1.8%** | **Media — 1.8%** |
| Belo Corp. |  |  |
| 7.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 7111 | 7323942 |
| 7.75%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 6021 | 6255227 |
| Historic TW Inc., 8.30%, 01/15/36<sup>(b)</sup> | &nbsp;&nbsp; 625 | 668352 |
| Liberty Interactive LLC |  |  |
| 8.25%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 13889 | 7137173 |
| 8.50%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 7899 | 4167686 |
| Warner Media LLC, 7.63%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp; 6157 | 6483896 |
|  |  | 32036276 |
| **Mining — 2.2%** | **Mining — 2.2%** | **Mining — 2.2%** |
| Alcoa Nederland Holding BV |  |  |
| 4.13%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16367 | 15388708 |
| 5.50%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8535 | 8493403 |
| 6.13%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13843 | 13892719 |
| 7.13%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 1400 | 1460137 |
|  |  | 39234967 |
| **Office & Business Equipment — 0.6%** | **Office & Business Equipment — 0.6%** | **Office & Business Equipment — 0.6%** |
| Xerox Corp. |  |  |
| 4.80%, 03/01/35<sup>(b)</sup> | &nbsp;&nbsp; 7422 | 4298127 |
| 6.75%, 12/15/39<sup>(b)</sup> | &nbsp;&nbsp; 10363 | 6957640 |
|  |  | 11255767 |
| **Office Furnishings — 0.7%** | **Office Furnishings — 0.7%** | **Office Furnishings — 0.7%** |
| Steelcase Inc., 5.13%, 01/18/29<sup>(b)</sup> | &nbsp;&nbsp; 13333 | 12849705 |
| **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** |
| Global Marine Inc., 7.00%, 06/01/28<sup>(b)</sup> | &nbsp;&nbsp; 7804 | 7380591 |
| Murphy Oil Corp. |  |  |
| 5.88%, 12/01/42<sup>(b)</sup> | &nbsp;&nbsp; 10101 | 8904453 |
| 7.05%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 5067 | 5272897 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Transocean Inc. |  |  |
| 6.80%, 03/15/38<sup>(b)</sup> | &nbsp;&nbsp; $18189 | $15094262 |
| 7.50%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp; 11547 | 10750734 |
| 9.35%, 12/15/41<sup>(b)</sup> | &nbsp;&nbsp; 5211 | 4664608 |
|  |  | 52067545 |
| **Packaging & Containers — 2.0%** | **Packaging & Containers — 2.0%** | **Packaging & Containers — 2.0%** |
| Crown Cork & Seal Co. Inc., 7.38%, 12/15/26<sup>(b)</sup> | &nbsp;&nbsp; 10215 | 10610914 |
| Pactiv LLC |  |  |
| 7.95%, 12/15/25<sup>(b)</sup> | &nbsp;&nbsp; 5468 | 5588634 |
| 8.38%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 4809 | 5054410 |
| Sealed Air Corp., 6.88%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp; 13296 | 14084850 |
|  |  | 35338808 |
| **Pipelines — 8.4%** | **Pipelines — 8.4%** | **Pipelines — 8.4%** |
| Buckeye Partners LP |  |  |
| 3.95%, 12/01/26<sup>(b)</sup> | &nbsp;&nbsp; 17787 | 17092859 |
| 4.13%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 12131 | 11605209 |
| 5.60%, 10/15/44 | &nbsp;&nbsp; 8811 | 7454997 |
| 5.85%, 11/15/43 | &nbsp;&nbsp; 13021 | 11239821 |
| 6.75%, 08/15/33<sup>(b)</sup> | &nbsp;&nbsp; 2721 | 2730292 |
| EQM Midstream Partners LP |  |  |
| 4.13%, 12/01/26 | &nbsp;&nbsp; 14145 | 13863094 |
| 5.50%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; 24046 | 23944804 |
| 6.50%, 07/15/48 | &nbsp;&nbsp; 15578 | 15685885 |
| Rockies Express Pipeline LLC |  |  |
| 3.60%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1600 | 1577103 |
| 4.80%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10275 | 9500353 |
| 4.95%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16070 | 15100782 |
| 6.88%, 04/15/40<sup>(a)</sup> | &nbsp;&nbsp; 14955 | 14177692 |
| 7.50%, 07/15/38<sup>(a)(b)</sup> | &nbsp;&nbsp; 7214 | 7272598 |
|  |  | 151245489 |
| **Real Estate Investment Trusts — 8.9%** | **Real Estate Investment Trusts — 8.9%** | **Real Estate Investment Trusts — 8.9%** |
| Brandywine Operating Partnership LP |  |  |
| 3.95%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 13162 | 12314280 |
| 4.55%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 10366 | 9550103 |
| 8.30%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 10210 | 10675008 |
| Diversified Healthcare Trust, 4.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 14799 | 13076119 |
| Hudson Pacific Properties LP |  |  |
| 3.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11901 | 8697026 |
| 3.95%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 11657 | 10462573 |
| 4.65%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 14871 | 11908236 |
| 5.95%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 10211 | 9058196 |
| Office Properties Income Trust, 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp; 150 | 126824 |
| Service Properties Trust |  |  |
| 3.95%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 10360 | 8881576 |
| 4.38%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 10414 | 7894254 |
| 4.75%, 10/01/26 | &nbsp;&nbsp; 11833 | 11200918 |
| 4.95%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 10448 | 9707494 |
| 4.95%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 11018 | 8797123 |
| 5.25%, 02/15/26<sup>(b)</sup> | &nbsp;&nbsp; 8159 | 7929608 |
| Vornado Realty LP |  |  |
| 2.15%, 06/01/26 | &nbsp;&nbsp; 11754 | 11128148 |
| 3.40%, 06/01/31<sup>(b)</sup> | &nbsp;&nbsp; 10253 | 8732143 |
|  |  | 160139629 |
| **Retail — 14.6%** | **Retail — 14.6%** | **Retail — 14.6%** |
| Advance Auto Parts Inc. |  |  |
| 1.75%, 10/01/27 | &nbsp;&nbsp; 10265 | 9146275 |
| 3.50%, 03/15/32<sup>(b)</sup> | &nbsp;&nbsp; 10410 | 8562319 |
| 3.90%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 14731 | 13097710 |
| 5.90%, 03/09/26<sup>(b)</sup> | &nbsp;&nbsp; 8218 | 8273493 |
| 5.95%, 03/09/28<sup>(b)</sup> | &nbsp;&nbsp; 8810 | 8881824 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Fallen Angels USD Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Bath & Body Works Inc. |  |  |
| 6.95%, 03/01/33<sup>(b)</sup> | &nbsp;&nbsp; $8451 | $8378662 |
| 7.60%, 07/15/37<sup>(b)</sup> | &nbsp;&nbsp; 5980 | 5903499 |
| Kohl's Corp. |  |  |
| 4.25%, 07/17/25<sup>(b)</sup> | &nbsp;&nbsp; 2100 | 2073606 |
| 4.63%, 05/01/31<sup>(b)</sup> | &nbsp;&nbsp; 14593 | 12071885 |
| 5.55%, 07/17/45<sup>(b)</sup> | &nbsp;&nbsp; 12607 | 8530866 |
| Macy's Retail Holdings LLC |  |  |
| 4.30%, 02/15/43<sup>(b)</sup> | &nbsp;&nbsp; 7389 | 5083977 |
| 4.50%, 12/15/34<sup>(b)</sup> | &nbsp;&nbsp; 11012 | 9197075 |
| 5.13%, 01/15/42<sup>(b)</sup> | &nbsp;&nbsp; 7384 | 5685661 |
| 6.38%, 03/15/37 | &nbsp;&nbsp; 5609 | 4921102 |
| 6.70%, 07/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 5268 | 4529358 |
| Marks & Spencer PLC, 7.13%, 12/01/37<sup>(a)(b)</sup> | &nbsp;&nbsp; 8800 | 9541509 |
| Nordstrom Inc. |  |  |
| 4.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 8617 | 8259011 |
| 4.25%, 08/01/31<sup>(b)</sup> | &nbsp;&nbsp; 10440 | 9199717 |
| 4.38%, 04/01/30<sup>(b)</sup> | &nbsp;&nbsp; 12408 | 11250044 |
| 5.00%, 01/15/44<sup>(b)</sup> | &nbsp;&nbsp; 23709 | 17807716 |
| 6.95%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 7382 | 7636054 |
| QVC Inc. |  |  |
| 5.45%, 08/15/34<sup>(b)</sup> | &nbsp;&nbsp; 11738 | 7663249 |
| 5.95%, 03/15/43 | &nbsp;&nbsp; 8452 | 5187836 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2700 | 2322808 |
| Walgreen Co., 4.40%, 09/15/42 | &nbsp;&nbsp; 4122 | 2692005 |
| Walgreens Boots Alliance Inc. |  |  |
| 3.20%, 04/15/30 | &nbsp;&nbsp; 7605 | 6037247 |
| 3.45%, 06/01/26<sup>(b)</sup> | &nbsp;&nbsp; 20300 | 19534652 |
| 4.10%, 04/15/50<sup>(b)</sup> | &nbsp;&nbsp; 12145 | 7837049 |
| 4.50%, 11/18/34<sup>(b)</sup> | &nbsp;&nbsp; 4666 | 3629661 |
| 4.65%, 06/01/46<sup>(b)</sup> | &nbsp;&nbsp; 4853 | 3143980 |
| 4.80%, 11/18/44<sup>(b)</sup> | &nbsp;&nbsp; 13314 | 9813007 |
| Yum! Brands Inc. |  |  |
| 5.35%, 11/01/43<sup>(b)</sup> | &nbsp;&nbsp; 8036 | 7830699 |
| 6.88%, 11/15/37 | &nbsp;&nbsp; 9628 | 10711247 |
|  |  | 264434803 |
| **Telecommunications — 11.0%** | **Telecommunications — 11.0%** | **Telecommunications — 11.0%** |
| Embarq Corp., 8.00%, 06/01/36 | &nbsp;&nbsp; 36000 | 15474275 |
| Frontier Florida LLC, Series E, 6.86%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 8950 | 9303187 |
| Frontier North Inc., Series G, 6.73%, 02/15/28 | &nbsp;&nbsp; 5966 | 6103257 |
| Level 3 Financing Inc. |  |  |
| 10.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 445876 |
| 10.75%, 12/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 400 | 448201 |
| 11.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 400 | 451398 |
| Lumen Technologies Inc. |  |  |
| 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 5900 | 5877011 |
| Series P, 7.60%, 09/15/39 | &nbsp;&nbsp; 10563 | 7735078 |
| Series U, 7.65%, 03/15/42 | &nbsp;&nbsp; 6035 | 4385949 |
| Optics Bidco SpA, Series 2033, 6.38%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp; 400 | 404271 |
| Qwest Corp., 7.25%, 09/15/25<sup>(b)</sup> | &nbsp;&nbsp; 3200 | 3188054 |
| Rogers Communications Inc., 5.25%, 03/15/82, <br> (5-year CMT + 3.590%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 21913 | 21443347 |
| Telecom Italia Capital SA |  |  |
| 6.00%, 09/30/34<sup>(b)</sup> | &nbsp;&nbsp; 13134 | 12753130 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 6.38%, 11/15/33<sup>(b)</sup> | &nbsp;&nbsp; $13108 | $13287698 |
| 7.20%, 07/18/36 | &nbsp;&nbsp; 13113 | 13319856 |
| 7.72%, 06/04/38 | &nbsp;&nbsp; 13212 | 13739555 |
| U.S. Cellular Corp., 6.70%, 12/15/33<sup>(b)</sup> | &nbsp;&nbsp; 16052 | 17356716 |
| Vodafone Group PLC, 7.00%, 04/04/79, <br> (5-year USD Swap + 4.873%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 51071 | 53597748 |
|  |  | 199314607 |
| **Transportation — 0.5%** | **Transportation — 0.5%** | **Transportation — 0.5%** |
| XPO CNW Inc., 6.70%, 05/01/34<sup>(b)</sup> | &nbsp;&nbsp; 9031 | 9462525 |
| **Total Corporate Bonds & Notes — 98.1%** <br>**(Cost: $1,847,602,388)** | **Total Corporate Bonds & Notes — 98.1%** <br>**(Cost: $1,847,602,388)** | 1774021586 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Office REITs — 0.0%** | **Office REITs — 0.0%** | **Office REITs — 0.0%** |
| Office Properties Income Trust, NVS | &nbsp;&nbsp; 87228 | 138693 |
| **Total Common Stocks — 0.0%** <br>**(Cost $0)** | **Total Common Stocks — 0.0%** <br>**(Cost $0)** | 138693 |
| **Total Long-Term Investments — 98.1%** <br>**(Cost: $1,847,602,388)** | **Total Long-Term Investments — 98.1%** <br>**(Cost: $1,847,602,388)** | 1774160279 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 19.6%** | **Money Market Funds — 19.6%** | **Money Market Funds — 19.6%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 341354932 | 341593881 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 12240000 | 12240000 |
| **Total Short-Term Securities — 19.6%** <br>**(Cost: $353,641,762)** | **Total Short-Term Securities — 19.6%** <br>**(Cost: $353,641,762)** | 353833881 |
| **Total Investments — 117.7%** <br>**(Cost: $2,201,244,150)** | **Total Investments — 117.7%** <br>**(Cost: $2,201,244,150)** | 2127994160 |
| **Liabilities in Excess of Other Assets — (17.7)%** | **Liabilities in Excess of Other Assets — (17.7)%** | (320441038)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1807553122 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(e)</sup> Perpetual security with no stated maturity date.

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Fallen Angels USD Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| $165226512<br> $176299012 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(26288)<br>| $94645 | $341593881 | 341354932 | $2012726 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 4440000<br> 7800000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 12240000 | 12240000 | 581773 | &nbsp;&nbsp; — |
|  |  |  | $(26288)<br>| $94645 | $353833881 |  | $2594499 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1774021586 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1774021586 |
| Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 138693 | &nbsp;&nbsp; — | &nbsp;&nbsp; 138693 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 353833881 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 353833881 |
|  | &nbsp;&nbsp; $353833881 | &nbsp;&nbsp; $1774160279 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2127994160 |

---

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>0-5 Year High Yield <br> Corporate Bond <br> ETF <br>| &nbsp;&nbsp; iShares <br>Broad USD High <br> Yield Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>ESG <br> Advanced <br> High Yield <br> Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Fallen Angels USD <br> Bond ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $5898336788 | $20184985760 | $153689736 | $1774160279 |
| Investments, at value—affiliated<sup>(c)</sup> | 1029154167 | 3557241380 | 36456621 | 353833881 |
| Cash | 3158192 | 4781496 | 5084 | 12506 |
| Foreign currency, at value<sup>(d)</sup> | 8590 | 536 | 87 |  |
| Receivables: |  |  |  |  |
| Investments sold | 26725118 | 227989507 | 5466021 |  |
| Securities lending income—affiliated | 464634 | 1569609 | 14362 | 167381 |
| Capital shares sold | 131003 | 3103789 |  | 11931 |
| Dividends—affiliated | 165862 | 292145 | 4275 | 81961 |
| Interest—unaffiliated | 94916795 | 334400167 | 2412775 | 27215879 |
| Total assets | 7053061149 | 24314364389 | 198048961 | 2155483818 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value | 997198888 | 3488023152 | 35217097 | 341702658 |
| Payables: |  |  |  |  |
| Investments purchased | 50819234 | 220227566 | 4408576 | 5747069 |
| Capital shares redeemed |  |  |  | 91836 |
| Investment advisory fees | 1537119 | 1362978 | 46072 | 389133 |
| Total liabilities | 1049555241 | 3709613696 | 39671745 | 347930696 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $6003505908 | $20604750693 | $158377216 | $1807553122 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $6461370654 | $21142743030 | $171671960 | $2036559374 |
| Accumulated loss | (457864746) | (537992337) | (13294744) | (229006252) |
| NET ASSETS | $6003505908 | $20604750693 | $158377216 | $1807553122 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 139700000 | 554300000 | 3400000 | 67050000 |
| Net asset value | $42.97 | $37.17 | $46.58 | $26.96 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $5848734211 | $20464348646 | $156483822 | $1847602388 |
| <sup>(b)</sup> Securities loaned, at value | $957221922 | $3350603878 | $33873858 | $329352344 |
| <sup>(c)</sup> Investments, at cost—affiliated | $1028480050 | $3555598194 | $36432797 | $353641762 |
| <sup>(d)</sup> Foreign currency, at cost | $8426 | $514 | $84 | $— |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>0-5 Year High <br> Yield <br> Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Broad USD High <br> Yield Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>ESG <br> Advanced <br> High Yield <br> Corporate <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>Fallen Angels <br> USD Bond <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $1760812 | &nbsp;&nbsp;&nbsp; $2678624 | &nbsp;&nbsp;&nbsp; $57985 | &nbsp;&nbsp;&nbsp; $581773 |
| Interest—unaffiliated | &nbsp;&nbsp; 406690536 | &nbsp;&nbsp;&nbsp; 935524141 | &nbsp;&nbsp;&nbsp; 8571040 | &nbsp;&nbsp;&nbsp; 102128696 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 5054401 | &nbsp;&nbsp;&nbsp; 13900045 | &nbsp;&nbsp;&nbsp; 163542 | &nbsp;&nbsp;&nbsp; 2012726 |
| Other income—unaffiliated | &nbsp;&nbsp; 1164308 | &nbsp;&nbsp;&nbsp; 2364520 | &nbsp;&nbsp;&nbsp; 71028 | &nbsp;&nbsp;&nbsp; 1568984 |
| Total investment income | &nbsp;&nbsp; 414670057 | &nbsp;&nbsp;&nbsp; 954467330 | &nbsp;&nbsp;&nbsp; 8863595 | &nbsp;&nbsp;&nbsp; 106292179 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 17217617 | &nbsp;&nbsp;&nbsp; 12535367 | &nbsp;&nbsp;&nbsp; 456864 | &nbsp;&nbsp;&nbsp; 4137917 |
| Litigation fees | &nbsp;&nbsp; 382439 | &nbsp;&nbsp;&nbsp; 183643 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5247 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 17600056 | &nbsp;&nbsp;&nbsp; 12724257 | &nbsp;&nbsp;&nbsp; 456864 | &nbsp;&nbsp;&nbsp; 4137917 |
| Less: |  |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1202463)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total expenses after fees waived | &nbsp;&nbsp; 17600056 | &nbsp;&nbsp;&nbsp; 11521794 | &nbsp;&nbsp;&nbsp; 456864 | &nbsp;&nbsp;&nbsp; 4137917 |
| Net investment income | &nbsp;&nbsp; 397070001 | &nbsp;&nbsp;&nbsp; 942945536 | &nbsp;&nbsp;&nbsp; 8406731 | &nbsp;&nbsp;&nbsp; 102154262 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (47985989)<br>| &nbsp;&nbsp;&nbsp; (85563740)<br>| &nbsp;&nbsp;&nbsp; (2136682)<br>| &nbsp;&nbsp;&nbsp; (28126475)<br>|
| Investments—affiliated | &nbsp;&nbsp; (4808)<br>| &nbsp;&nbsp;&nbsp; (85553)<br>| &nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp; (26288)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 23601604 | &nbsp;&nbsp;&nbsp; 161564880 | &nbsp;&nbsp;&nbsp; 129587 | &nbsp;&nbsp;&nbsp; 11422507 |
|  | &nbsp;&nbsp; (24389193)<br>| &nbsp;&nbsp;&nbsp; 75915587 | &nbsp;&nbsp;&nbsp; (2006495)<br>| &nbsp;&nbsp;&nbsp; (16730256)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 330621544 | &nbsp;&nbsp;&nbsp; 857979006 | &nbsp;&nbsp;&nbsp; 13570393 | &nbsp;&nbsp;&nbsp; 152998771 |
| Investments—affiliated | &nbsp;&nbsp; 273065 | &nbsp;&nbsp;&nbsp; 827829 | &nbsp;&nbsp;&nbsp; 9052 | &nbsp;&nbsp;&nbsp; 94645 |
| Foreign currency translations | &nbsp;&nbsp; 217 | &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 330894826 | &nbsp;&nbsp;&nbsp; 858806844 | &nbsp;&nbsp;&nbsp; 13579448 | &nbsp;&nbsp;&nbsp; 153093416 |
| Net realized and unrealized gain | &nbsp;&nbsp; 306505633 | &nbsp;&nbsp;&nbsp; 934722431 | &nbsp;&nbsp;&nbsp; 11572953 | &nbsp;&nbsp;&nbsp; 136363160 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $703575634 | &nbsp;&nbsp;&nbsp; $1877667967 | &nbsp;&nbsp;&nbsp; $19979684 | &nbsp;&nbsp;&nbsp; $238517422 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>0-5 Year High Yield Corporate Bond ETF  | iShares <br>0-5 Year High Yield Corporate Bond ETF  | iShares <br>Broad USD High Yield Corporate Bond ETF  | iShares <br>Broad USD High Yield Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $397070001 | &nbsp;&nbsp;&nbsp; $373411860 | &nbsp;&nbsp;&nbsp; $942945536 | &nbsp;&nbsp;&nbsp; $601936703 |
| Net realized gain (loss) | &nbsp;&nbsp; (24389193)<br>| &nbsp;&nbsp;&nbsp; (102622558)<br>| &nbsp;&nbsp;&nbsp; 75915587 | &nbsp;&nbsp;&nbsp; (134049745)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 330894826 | &nbsp;&nbsp;&nbsp; 77213999 | &nbsp;&nbsp;&nbsp; 858806844 | &nbsp;&nbsp;&nbsp; 25289392 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 703575634 | &nbsp;&nbsp;&nbsp; 348003301 | &nbsp;&nbsp;&nbsp; 1877667967 | &nbsp;&nbsp;&nbsp; 493176350 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (388893337)<br>| &nbsp;&nbsp;&nbsp; (379354244)<br>| &nbsp;&nbsp;&nbsp; (885241007)<br>| &nbsp;&nbsp;&nbsp; (605921384)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 1094480264 | &nbsp;&nbsp;&nbsp; (2351453187)<br>| &nbsp;&nbsp;&nbsp; 10596189652 | &nbsp;&nbsp;&nbsp; 1014220228 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 1409162561 | &nbsp;&nbsp;&nbsp; (2382804130)<br>| &nbsp;&nbsp;&nbsp; 11588616612 | &nbsp;&nbsp;&nbsp; 901475194 |
| Beginning of year | &nbsp;&nbsp; 4594343347 | &nbsp;&nbsp;&nbsp; 6977147477 | &nbsp;&nbsp;&nbsp; 9016134081 | &nbsp;&nbsp;&nbsp; 8114658887 |
| End of year | &nbsp;&nbsp; $6003505908 | &nbsp;&nbsp;&nbsp; $4594343347 | &nbsp;&nbsp;&nbsp; $20604750693 | &nbsp;&nbsp;&nbsp; $9016134081 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>ESG Advanced High Yield Corporate Bond <br> ETF  | iShares <br>ESG Advanced High Yield Corporate Bond <br> ETF  | iShares <br>Fallen Angels USD Bond ETF  | iShares <br>Fallen Angels USD Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $8406731 | &nbsp;&nbsp;&nbsp; $6908202 | &nbsp;&nbsp;&nbsp; $102154262 | &nbsp;&nbsp;&nbsp; $79482012 |
| Net realized loss | &nbsp;&nbsp; (2006495)<br>| &nbsp;&nbsp;&nbsp; (7628505)<br>| &nbsp;&nbsp;&nbsp; (16730256)<br>| &nbsp;&nbsp;&nbsp; (148493749)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 13579448 | &nbsp;&nbsp;&nbsp; 5247325 | &nbsp;&nbsp;&nbsp; 153093416 | &nbsp;&nbsp;&nbsp; 183439404 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 19979684 | &nbsp;&nbsp;&nbsp; 4527022 | &nbsp;&nbsp;&nbsp; 238517422 | &nbsp;&nbsp;&nbsp; 114427667 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (8341647)<br>| &nbsp;&nbsp;&nbsp; (7071781)<br>| &nbsp;&nbsp;&nbsp; (100134248)<br>| &nbsp;&nbsp;&nbsp; (84879810)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 36695567 | &nbsp;&nbsp;&nbsp; (17376606)<br>| &nbsp;&nbsp;&nbsp; 411137004 | &nbsp;&nbsp;&nbsp; (448987577)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 48333604 | &nbsp;&nbsp;&nbsp; (19921365)<br>| &nbsp;&nbsp;&nbsp; 549520178 | &nbsp;&nbsp;&nbsp; (419439720)<br>|
| Beginning of year | &nbsp;&nbsp; 110043612 | &nbsp;&nbsp;&nbsp; 129964977 | &nbsp;&nbsp;&nbsp; 1258032944 | &nbsp;&nbsp;&nbsp; 1677472664 |
| End of year | &nbsp;&nbsp; $158377216 | &nbsp;&nbsp;&nbsp; $110043612 | &nbsp;&nbsp;&nbsp; $1807553122 | &nbsp;&nbsp;&nbsp; $1258032944 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares 0-5 Year High Yield Corporate Bond ETF  | iShares 0-5 Year High Yield Corporate Bond ETF  | iShares 0-5 Year High Yield Corporate Bond ETF  | iShares 0-5 Year High Yield Corporate Bond ETF  | iShares 0-5 Year High Yield Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $40.44 | &nbsp;&nbsp;&nbsp; $40.83 | &nbsp;&nbsp;&nbsp; $45.51 | &nbsp;&nbsp;&nbsp; $43.75 | &nbsp;&nbsp;&nbsp; $46.20 |
| Net investment income<sup>(a)</sup> | 2.92 | &nbsp;&nbsp;&nbsp;&nbsp;2.64 | &nbsp;&nbsp;&nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;&nbsp;2.26 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.49 | &nbsp;&nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp;&nbsp; (4.58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.90 | &nbsp;&nbsp;&nbsp; (2.36)<br>|
| Net increase (decrease) from investment operations | 5.41 | &nbsp;&nbsp;&nbsp;&nbsp;2.28 | &nbsp;&nbsp;&nbsp; (2.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.99 | &nbsp;&nbsp;&nbsp; (0.10)<br>|
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (2.88)<br>| &nbsp;&nbsp;&nbsp; (2.67)<br>| &nbsp;&nbsp;&nbsp; (2.20)<br>| &nbsp;&nbsp;&nbsp; (2.23)<br>| &nbsp;&nbsp;&nbsp; (2.35)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $42.97 | &nbsp;&nbsp;&nbsp; $40.44 | &nbsp;&nbsp;&nbsp; $40.83 | &nbsp;&nbsp;&nbsp; $45.51 | &nbsp;&nbsp;&nbsp; $43.75 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 13.78<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.69<br> %<br>| &nbsp;&nbsp;&nbsp; (5.55)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9.25<br> %<br>| &nbsp;&nbsp;&nbsp; (0.10)%<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.31 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Net investment income | 6.92<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.59<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.15<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $6003506 | &nbsp;&nbsp;&nbsp; $4594343 | &nbsp;&nbsp;&nbsp; $6977147 | &nbsp;&nbsp;&nbsp; $5433846 | &nbsp;&nbsp;&nbsp; $4904298 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 36<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 39<br> %<br>| &nbsp;&nbsp;&nbsp; 45<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.30%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.30%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.30%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.30%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.30%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.30%. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Broad USD High Yield Corporate Bond ETF  | iShares Broad USD High Yield Corporate Bond ETF  | iShares Broad USD High Yield Corporate Bond ETF  | iShares Broad USD High Yield Corporate Bond ETF  | iShares Broad USD High Yield Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $34.11 | &nbsp;&nbsp;&nbsp; $34.49 | &nbsp;&nbsp;&nbsp; $41.21 | &nbsp;&nbsp;&nbsp; $39.34 | &nbsp;&nbsp;&nbsp; $40.61 |
| Net investment income<sup>(a)</sup> | 2.54 | &nbsp;&nbsp;&nbsp;&nbsp;2.32 | &nbsp;&nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;&nbsp;&nbsp;2.02 | &nbsp;&nbsp;&nbsp;&nbsp;2.21 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.99 | &nbsp;&nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp;&nbsp; (6.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.97 | &nbsp;&nbsp;&nbsp; (1.23)<br>|
| Net increase (decrease) from investment operations | 5.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.98 | &nbsp;&nbsp;&nbsp; (4.65)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (2.47)<br>| &nbsp;&nbsp;&nbsp; (2.36)<br>| &nbsp;&nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp;&nbsp; (2.12)<br>| &nbsp;&nbsp;&nbsp; (2.25)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $37.17 | &nbsp;&nbsp;&nbsp; $34.11 | &nbsp;&nbsp;&nbsp; $34.49 | &nbsp;&nbsp;&nbsp; $41.21 | &nbsp;&nbsp;&nbsp; $39.34 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 16.68<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.80<br> %<br>| &nbsp;&nbsp;&nbsp; (11.59)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.61<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.09 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22<br> %<br>|
| Total expenses after fees waived | 0.09 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>|
| Net investment income | 6.96<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.65<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.91<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.67<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $20604751 | &nbsp;&nbsp;&nbsp; $9016134 | &nbsp;&nbsp;&nbsp; $8114659 | &nbsp;&nbsp;&nbsp; $8308643 | &nbsp;&nbsp;&nbsp; $6194074 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 21<br> %<br>| &nbsp;&nbsp;&nbsp; 13<br> %<br>| &nbsp;&nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 21<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.08%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.08%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.08%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.08%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.08%. | <sup>(f)</sup> Includes non-recurring expense of litigation fees. Without this cost, total expenses would have been 0.08%. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares ESG Advanced High Yield Corporate Bond ETF  | iShares ESG Advanced High Yield Corporate Bond ETF  | iShares ESG Advanced High Yield Corporate Bond ETF  | iShares ESG Advanced High Yield Corporate Bond ETF  | iShares ESG Advanced High Yield Corporate Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $42.32 | &nbsp;&nbsp;&nbsp; $43.32 | &nbsp;&nbsp;&nbsp; $51.90 | &nbsp;&nbsp;&nbsp; $51.03 | &nbsp;&nbsp;&nbsp; $51.81 |
| Net investment income<sup>(a)</sup> | 2.92 | &nbsp;&nbsp;&nbsp;&nbsp;2.57 | &nbsp;&nbsp;&nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.97 | &nbsp;&nbsp;&nbsp;&nbsp;2.41 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 4.27 | &nbsp;&nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp;&nbsp; (8.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp; (0.73)<br>|
| Net increase (decrease) from investment operations | 7.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.62 | &nbsp;&nbsp;&nbsp; (6.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.15 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (2.93)<br>| &nbsp;&nbsp;&nbsp; (2.62)<br>| &nbsp;&nbsp;&nbsp; (2.21)<br>| &nbsp;&nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp;&nbsp; (2.46)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (2.93)<br>| &nbsp;&nbsp;&nbsp; (2.62)<br>| &nbsp;&nbsp;&nbsp; (2.50)<br>| &nbsp;&nbsp;&nbsp; (2.28)<br>| &nbsp;&nbsp;&nbsp; (2.46)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $46.58 | &nbsp;&nbsp;&nbsp; $42.32 | &nbsp;&nbsp;&nbsp; $43.32 | &nbsp;&nbsp;&nbsp; $51.90 | &nbsp;&nbsp;&nbsp; $51.03 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 17.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.70<br> %<br>| &nbsp;&nbsp;&nbsp; (12.03)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.42<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>|
| Net investment income | 6.44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.89<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.53<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.78<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.78<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $158377 | &nbsp;&nbsp;&nbsp; $110044 | &nbsp;&nbsp;&nbsp; $129965 | &nbsp;&nbsp;&nbsp; $124566 | &nbsp;&nbsp;&nbsp; $61235 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 30<br> %<br>| &nbsp;&nbsp;&nbsp; 28<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp;&nbsp; 85<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Fallen Angels USD Bond ETF  | iShares Fallen Angels USD Bond ETF  | iShares Fallen Angels USD Bond ETF  | iShares Fallen Angels USD Bond ETF  | iShares Fallen Angels USD Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $24.50 | &nbsp;&nbsp;&nbsp; $24.21 | &nbsp;&nbsp;&nbsp; $30.04 | &nbsp;&nbsp;&nbsp; $27.29 | &nbsp;&nbsp;&nbsp; $26.58 |
| Net investment income<sup>(a)</sup> | 1.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp; (5.79)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Net increase (decrease) from investment operations | 4.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp; (4.69)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.89 | &nbsp;&nbsp;&nbsp;&nbsp;2.19 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.62)<br>| &nbsp;&nbsp;&nbsp; (1.40)<br>| &nbsp;&nbsp;&nbsp; (1.14)<br>| &nbsp;&nbsp;&nbsp; (1.14)<br>| &nbsp;&nbsp;&nbsp; (1.48)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $26.96 | &nbsp;&nbsp;&nbsp; $24.50 | &nbsp;&nbsp;&nbsp; $24.21 | &nbsp;&nbsp;&nbsp; $30.04 | &nbsp;&nbsp;&nbsp; $27.29 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 17.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.06<br> %<br>| &nbsp;&nbsp;&nbsp; (15.88)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 14.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.68<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>|
| Net investment income | 6.17<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.02<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.57<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.84<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $1807553 | &nbsp;&nbsp;&nbsp; $1258033 | &nbsp;&nbsp;&nbsp; $1677473 | &nbsp;&nbsp;&nbsp; $4676501 | &nbsp;&nbsp;&nbsp; $321971 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 22<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 21<br> %<br>| &nbsp;&nbsp;&nbsp; 51<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; Diversified |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; Diversified |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; Diversified |
| Fallen Angels USD Bond | &nbsp;&nbsp; Diversified |

---

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. SECURITIES AND OTHER INVESTMENTS***

**Zero-Coupon Bonds:** Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| 0-5 Year High Yield Corporate Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $140920102 | &nbsp;&nbsp;&nbsp; $(140920102) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 29206820 | &nbsp;&nbsp;&nbsp; (29206820) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 15703391 | &nbsp;&nbsp;&nbsp; (15703391) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 149229123 | &nbsp;&nbsp;&nbsp; (149229123) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 24149891 | &nbsp;&nbsp;&nbsp; (24149891) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 19661948 | &nbsp;&nbsp;&nbsp; (19661948) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 12515299 | &nbsp;&nbsp;&nbsp; (12515299) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 110650528 | &nbsp;&nbsp;&nbsp; (110650528) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 114913775 | &nbsp;&nbsp;&nbsp; (114913775) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 5377619 | &nbsp;&nbsp;&nbsp; (5377619) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 129862896 | &nbsp;&nbsp;&nbsp; (129862896) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 18067316 | &nbsp;&nbsp;&nbsp; (18067316) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Mitsubishi UFJ Securities Holdings Co., Ltd. | &nbsp;&nbsp; 4642317 | &nbsp;&nbsp;&nbsp; (4642317) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 5564426 | &nbsp;&nbsp;&nbsp; (5564426) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 3098801 | &nbsp;&nbsp;&nbsp; (3098801) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 49318541 | &nbsp;&nbsp;&nbsp; (49318541) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 32804290 | &nbsp;&nbsp;&nbsp; (32804290) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 14991556 | &nbsp;&nbsp;&nbsp; (14991556) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 9913179 | &nbsp;&nbsp;&nbsp; (9913179) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 25319790 | &nbsp;&nbsp;&nbsp; (25319790) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 1387763 | &nbsp;&nbsp;&nbsp; (1387763) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 25679391 | &nbsp;&nbsp;&nbsp; (25679391) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 2143058 | &nbsp;&nbsp;&nbsp; (2143058) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 12100102 | &nbsp;&nbsp;&nbsp; (12100102) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $957221922 | &nbsp;&nbsp;&nbsp; $(957221922) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| Broad USD High Yield Corporate Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $681451909 | &nbsp;&nbsp;&nbsp; $(681451909) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 93133637 | &nbsp;&nbsp;&nbsp; (93133637) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 56825393 | &nbsp;&nbsp;&nbsp; (56825393) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 63845779 | &nbsp;&nbsp;&nbsp; (63845779) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 132298693 | &nbsp;&nbsp;&nbsp; (132298693) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 52738005 | &nbsp;&nbsp;&nbsp; (52738005) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 81346151 | &nbsp;&nbsp;&nbsp; (81346151) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 431532490 | &nbsp;&nbsp;&nbsp; (431532490) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 528129790 | &nbsp;&nbsp;&nbsp; (528129790) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 79880768 | &nbsp;&nbsp;&nbsp; (79880768) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 228855248 | &nbsp;&nbsp;&nbsp; (228855248) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 51187524 | &nbsp;&nbsp;&nbsp; (51187524) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 25468776 | &nbsp;&nbsp;&nbsp; (25468776) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 263461479 | &nbsp;&nbsp;&nbsp; (263461479) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 106684457 | &nbsp;&nbsp;&nbsp; (106684457) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 229660962 | &nbsp;&nbsp;&nbsp; (229660962) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 31772546 | &nbsp;&nbsp;&nbsp; (31772546) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 97186013 | &nbsp;&nbsp;&nbsp; (97186013) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 1419793 | &nbsp;&nbsp;&nbsp; (1419793) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 37869616 | &nbsp;&nbsp;&nbsp; (37869616) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 17696822 | &nbsp;&nbsp;&nbsp; (17696822) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 58158027 | &nbsp;&nbsp;&nbsp; (58158027) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $3350603878 | &nbsp;&nbsp;&nbsp; $(3350603878) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| ESG Advanced High Yield Corporate Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $3809322 | &nbsp;&nbsp;&nbsp; $(3809322) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 1347262 | &nbsp;&nbsp;&nbsp; (1347262) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 608887 | &nbsp;&nbsp;&nbsp; (608887) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 5830502 | &nbsp;&nbsp;&nbsp; (5830502) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 334737 | &nbsp;&nbsp;&nbsp; (334737) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1060542 | &nbsp;&nbsp;&nbsp; (1060542) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 239155 | &nbsp;&nbsp;&nbsp; (239155) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 7216036 | &nbsp;&nbsp;&nbsp; (7216036) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 781492 | &nbsp;&nbsp;&nbsp; (781492) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 2522270 | &nbsp;&nbsp;&nbsp; (2522270) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 460494 | &nbsp;&nbsp;&nbsp; (460494) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 2614497 | &nbsp;&nbsp;&nbsp; (2614497) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 1762810 | &nbsp;&nbsp;&nbsp; (1762810) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 4051940 | &nbsp;&nbsp;&nbsp; (4051940) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 419093 | &nbsp;&nbsp;&nbsp; (419093) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 69959 | &nbsp;&nbsp;&nbsp; (69959) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 167014 | &nbsp;&nbsp;&nbsp; (167014) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 577846 | &nbsp;&nbsp;&nbsp; (577846) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $33873858 | &nbsp;&nbsp;&nbsp; $(33873858) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| Fallen Angels USD Bond |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $87869211 | &nbsp;&nbsp;&nbsp; $(87869211) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 2626626 | &nbsp;&nbsp;&nbsp; (2626626) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 46486192 | &nbsp;&nbsp;&nbsp; (46486192) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 15708142 | &nbsp;&nbsp;&nbsp; (15708142) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 3897822 | &nbsp;&nbsp;&nbsp; (3897822) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 38432168 | &nbsp;&nbsp;&nbsp; (38432168) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 40077521 | &nbsp;&nbsp;&nbsp; (40077521) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 10671821 | &nbsp;&nbsp;&nbsp; (10671821) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 30905363 | &nbsp;&nbsp;&nbsp; (30905363) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 5850899 | &nbsp;&nbsp;&nbsp; (5850899) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 7982625 | &nbsp;&nbsp;&nbsp; (7982625) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 6601881 | &nbsp;&nbsp;&nbsp; (6601881) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 8110686 | &nbsp;&nbsp;&nbsp; (8110686) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 2773826 | &nbsp;&nbsp;&nbsp; (2773826) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 6528507 | &nbsp;&nbsp;&nbsp; (6528507) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 1421648 | &nbsp;&nbsp;&nbsp; (1421648) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 1473796 | &nbsp;&nbsp;&nbsp; (1473796) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 11933610 | &nbsp;&nbsp;&nbsp; (11933610) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $329352344 | &nbsp;&nbsp;&nbsp; $(329352344) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| 0-5 Year High Yield Corporate Bond | 0.30% |
| Broad USD High Yield Corporate Bond | 0.08 |
| ESG Advanced High Yield Corporate Bond | 0.35 |
| Fallen Angels USD Bond | 0.25 |

---

Effective December 15, 2023, for its investment advisory services to the iShares Broad USD High Yield Corporate Bond ETF, BFA is entitled to an annual investment advisory fee of 0.08%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund. Prior to December 15, 2023, BFA was entitled to an annual investment advisory fee of 0.22%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

**Expense Waivers:** The total of the investment advisory fee and any fund other expenses are a fund's total annual operating expenses. For the iShares Broad USD High Yield Corporate Bond ETF, from the period November 28, 2023 to December 15, 2023, BFA contractually waived a portion of its management fee so that the Fund's total annual fund operating expenses after fee waiver did not exceed 0.08%. This contractual waiver was terminated as of December 15, 2023. Prior to November 28, 2023, BFA

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

had contractually agreed to waive a portion of its investment advisory fee through February 29, 2024 in order to limit the Fund's total annual operating expenses after fee waiver to 0.15% of average daily net assets.

This amount is included in investment advisory fees waived in the Statement of Operations. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; $1202463 |

---

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 08, 2024 (date of conversion for iShares 0-5 Year High Yield Corporate Bond ETF and iShares Fallen Angels USD Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

Prior to January 26, 2024 (date of conversion for iShares Broad USD High Yield Corporate Bond ETF and iShares ESG Advanced High Yield Corporate Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $1413225 |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 3840518 |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 46635 |
| Fallen Angels USD Bond | &nbsp;&nbsp; 544003 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $2113110345 | &nbsp;&nbsp;&nbsp; $2038400834 |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 2963699355 | &nbsp;&nbsp;&nbsp; 2770962286 |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 38389105 | &nbsp;&nbsp;&nbsp; 39770068 |
| Fallen Angels USD Bond | &nbsp;&nbsp; 355940803 | &nbsp;&nbsp;&nbsp; 361842586 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $2028063886 | &nbsp;&nbsp;&nbsp; $1038305631 |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 15511191449 | &nbsp;&nbsp;&nbsp; 5299583024 |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 40325266 | &nbsp;&nbsp;&nbsp; 4461048 |
| Fallen Angels USD Bond | &nbsp;&nbsp; 728484264 | &nbsp;&nbsp;&nbsp; 318437943 |

---

***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $23598482 | &nbsp;&nbsp;&nbsp; $(23598482) |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 161427374 | &nbsp;&nbsp;&nbsp; (161427374) |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 129587 | &nbsp;&nbsp;&nbsp; (129587) |
| Fallen Angels USD Bond | &nbsp;&nbsp; 11088871 | &nbsp;&nbsp;&nbsp; (11088871) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| 0-5 Year High Yield Corporate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $388893337 | &nbsp;&nbsp;&nbsp; $379354244 |
| Broad USD High Yield Corporate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $885241007 | &nbsp;&nbsp;&nbsp; $605921384 |
| ESG Advanced High Yield Corporate Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $8341647 | &nbsp;&nbsp;&nbsp; $7071781 |
| Fallen Angels USD Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $100134248 | &nbsp;&nbsp;&nbsp; $84879810 |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $36035868 | &nbsp;&nbsp;&nbsp; $(537496773) | &nbsp;&nbsp;&nbsp; $43596159 | &nbsp;&nbsp;&nbsp; $(457864746) |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 120008992 | &nbsp;&nbsp;&nbsp; (354169509) | &nbsp;&nbsp;&nbsp; (303831820) | &nbsp;&nbsp;&nbsp; (537992337) |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 840092 | &nbsp;&nbsp;&nbsp; (10969499) | &nbsp;&nbsp;&nbsp; (3165337) | &nbsp;&nbsp;&nbsp; (13294744) |
| Fallen Angels USD Bond | &nbsp;&nbsp; 9671887 | &nbsp;&nbsp;&nbsp; (159951517) | &nbsp;&nbsp;&nbsp; (78726622) | &nbsp;&nbsp;&nbsp; (229006252) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, amortization methods for premiums and discounts on fixed income securities, the classification of investments and the accrual of income on securities in default. 

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $6883894961 | &nbsp;&nbsp;&nbsp; $115158148 | &nbsp;&nbsp;&nbsp; $(71562154) | &nbsp;&nbsp;&nbsp; $43595994 |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 24046058982 | &nbsp;&nbsp;&nbsp; 151103148 | &nbsp;&nbsp;&nbsp; (454934990) | &nbsp;&nbsp;&nbsp; (303831842) |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 193311697 | &nbsp;&nbsp;&nbsp; 2924439 | &nbsp;&nbsp;&nbsp; (6089779) | &nbsp;&nbsp;&nbsp; (3165340) |
| Fallen Angels USD Bond | &nbsp;&nbsp; 2206720782 | &nbsp;&nbsp;&nbsp; 23032433 | &nbsp;&nbsp;&nbsp; (101759055) | &nbsp;&nbsp;&nbsp; (78726622) |

---

***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

The Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as "junk bonds") or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

Certain Funds invest a significant portion of their assets within the financials sector. Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, changes in government regulations, economic conditions, and interest rates, credit rating downgrades, adverse public perception, exposure concentration and decreased liquidity in credit markets. The impact of changes in capital requirements and recent or future regulation on any individual financial company, or on the financials sector as a whole, cannot be predicted, but may negatively impact the Funds.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| 0-5 Year High Yield Corporate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 51200000 | &nbsp;&nbsp;&nbsp; $2155851927 | &nbsp;&nbsp;&nbsp; 41500000 | &nbsp;&nbsp;&nbsp; $1711024847 |
| Shares redeemed | &nbsp;&nbsp; (25100000)<br>| &nbsp;&nbsp;&nbsp; (1061371663)<br>| &nbsp;&nbsp;&nbsp; (98800000)<br>| &nbsp;&nbsp;&nbsp; (4062478034)<br>|
|  | &nbsp;&nbsp; 26100000 | &nbsp;&nbsp;&nbsp; $1094480264 | &nbsp;&nbsp;&nbsp; (57300000)<br>| &nbsp;&nbsp;&nbsp; $(2351453187)<br>|
| Broad USD High Yield Corporate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 438550000 | &nbsp;&nbsp;&nbsp; $16005843297 | &nbsp;&nbsp;&nbsp; 189850000 | &nbsp;&nbsp;&nbsp; $6630541378 |
| Shares redeemed | &nbsp;&nbsp; (148600000)<br>| &nbsp;&nbsp;&nbsp; (5409653645)<br>| &nbsp;&nbsp;&nbsp; (160800000)<br>| &nbsp;&nbsp;&nbsp; (5616321150)<br>|
|  | &nbsp;&nbsp; 289950000 | &nbsp;&nbsp;&nbsp; $10596189652 | &nbsp;&nbsp;&nbsp; 29050000 | &nbsp;&nbsp;&nbsp; $1014220228 |
| ESG Advanced High Yield Corporate Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; $41254827 | &nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; $10893485 |
| Shares redeemed | &nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp;&nbsp; (4559260)<br>| &nbsp;&nbsp;&nbsp; (650000)<br>| &nbsp;&nbsp;&nbsp; (28270091)<br>|
|  | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; $36695567 | &nbsp;&nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; $(17376606)<br>|

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> 10/31/24 | Year Ended<br> 10/31/24 | Year Ended<br> 10/31/23 | Year Ended<br> 10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Fallen Angels USD Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 28200000 | &nbsp;&nbsp;&nbsp; $741783562 | &nbsp;&nbsp;&nbsp; 33100000 | &nbsp;&nbsp;&nbsp; $825571750 |
| Shares redeemed | &nbsp;&nbsp; (12500000)<br>| &nbsp;&nbsp;&nbsp; (330646558)<br>| &nbsp;&nbsp;&nbsp; (51050000)<br>| &nbsp;&nbsp;&nbsp; (1274559327)<br>|
|  | &nbsp;&nbsp; 15700000 | &nbsp;&nbsp;&nbsp; $411137004 | &nbsp;&nbsp;&nbsp; (17950000)<br>| &nbsp;&nbsp;&nbsp; $(448987577)<br>|

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the four funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (four of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations for the year ended October 31, 2024, the statements of changes in net assets for each of the two years in the period ended October 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table as of October 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2024 and each of the financial highlights for each of the five years in the period ended October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares 0-5 Year High Yield Corporate Bond ETF |
| iShares Broad USD High Yield Corporate Bond ETF |
| iShares ESG Advanced High Yield Corporate Bond ETF |
| iShares Fallen Angels USD Bond ETF |

---

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

------

Important Tax Information (unaudited)

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $267707 |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 420123 |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 8881 |
| Fallen Angels USD Bond | &nbsp;&nbsp; 89667 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $392482482 |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 932462952 |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 8317486 |
| Fallen Angels USD Bond | &nbsp;&nbsp; 100257286 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| 0-5 Year High Yield Corporate Bond | &nbsp;&nbsp; $318891255 |
| Broad USD High Yield Corporate Bond | &nbsp;&nbsp; 792783637 |
| ESG Advanced High Yield Corporate Bond | &nbsp;&nbsp; 6958249 |
| Fallen Angels USD Bond | &nbsp;&nbsp; 81566203 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Regulation under the Alternative Investment Fund Managers Directive**

The Alternative Investment Fund Managers Directive, and its United Kingdom ("UK") equivalent, (the "AIFMD") impose detailed and prescriptive obligations on fund managers established in the European Union (the "EU") and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the "Company"). However, the Company is required to comply with certain disclosure, reporting and transparency obligations of the AIFMD because it has registered the iShares Broad USD High Yield Corporate Bond ETF (the "Fund") to be marketed to investors in the EU and/or UK.

**Report on Remuneration**

BlackRock has a clear and well-defined pay-for-performance philosophy, and compensation programs which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management and staff who have the ability to materially affect the risk profile of the Fund, a significant percentage of variable remuneration is deferred over time. All employees are subject to a clawback policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock's full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock's independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, Finance, Human Resources and Internal Audit) each have their own organizational structures which are independent of the business units and therefore staff members in control functions are remunerated independently of the businesses they oversee. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock's independent remuneration committee.

The Company is required under the AIFMD to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock's interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year. BlackRock bases its proportionality approach on a combination of factors that it is entitled to take into account based on relevant guidelines.

Remuneration information at an individual Fund level is not readily available. Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; (c) staff who have the ability to materially affect the risk profile of the Fund; and (d) staff of companies to which portfolio management and risk management has been formally delegated.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock's remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals' services attributable to the Fund is included in the aggregate figures disclosed.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Conversely, members of staff and senior management of the broader BlackRock group may provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the broader BlackRock group and of the Company. Therefore, the figures disclosed are a sum of individuals' portion of remuneration attributable to the Company according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company and the broader BlackRock group. Accordingly, the figures are not representative of any individual's actual remuneration or their remuneration structure.

The amount of the total remuneration awarded to the Company's staff in respect of the Company's financial year ending December 31, 2023 was USD 5.43m. This figure is comprised of fixed remuneration of USD 0.74m and variable remuneration of USD 4.68m. There was a total of 8 beneficiaries of the remuneration described above.

The amount of the aggregate remuneration awarded by the Company in respect of the Company's financial year ending December 31, 2023, to its senior management was USD 3.66m, and to other members of its staff whose actions potentially have a material impact on the risk profile of the Company or its funds was USD 1.77m.

2024 iShares Annual Financial Statements and Additional Information

------

Additional Information (continued)

**Disclosures Under the EU Sustainable Finance Disclosure Regulation** 

The iShares Broad USD High Yield Corporate Bond ETF (the "Fund") is registered under the Alternative Investment Fund Managers Directive to be marketed to European Union ("EU") investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation ("SFDR").

The Fund has not been categorized under the SFDR as an "Article 8" or "Article 9" product. In addition, the Fund's investment strategy does not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation or principal adverse impacts ("PAIs") on sustainability factors under the SFDR. PAIs are identified under the SFDR as the material impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, and anti-corruption and anti-bribery matters.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares 0-5 Year High Yield Corporate Bond ETF, iShares ESG Advanced High Yield Corporate Bond ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares Broad USD High Yield Corporate Bond ETF, iShares Fallen Angels USD Bond ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion**: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

2024 iShares Annual Financial Statements and Additional Information

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CMT | Constant Maturity Treasury |
| CPI | Consumer Price Index |
| LIBOR | London Interbank Offered Rate |
| NVS | Non-Voting Shares |
| PIK | Payment-in-kind |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

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Glossary of Terms Used in this Report

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2024 iShares Annual Financial Statements and Additional Information

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services Limited, ICE Data Indices, LLC, or Markit Indices Limited, nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

![](g938995img911a25dc1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **iShares Trust** |
| • iShares 1-3 Year International Treasury Bond ETF \| ISHG \| NASDAQ |
| • iShares International Treasury Bond ETF \| IGOV \| NASDAQ |

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**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 15 |
| [Statements of Operations](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 16 |
| [Statements of Changes in Net Assets](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 17 |
| [Financial Highlights](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 18 |
| [Notes to Financial Statements](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 20 |
| [Report of Independent Registered Public Accounting Firm](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 26 |
| [Important Tax Information](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 27 |
| [Additional Information](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_SAI-Footer-iSharesReport-199_1)  | &nbsp;&nbsp; 28 |
| [Board Review and Approval of Investment Advisory Contract](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 29 |
| [Glossary of Terms Used in this Report](#xx_240a0a07-14a3-4713-8eeb-bf368c045595_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 31 |

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Schedule of Investments

October 31, 2024

**iShares® 1-3 Year International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Foreign Government Obligations** | **Foreign Government Obligations** | **Foreign Government Obligations** |
| **Australia — 4.5%** | **Australia — 4.5%** | **Australia — 4.5%** |
| Australia Government Bond |  |  |
| 0.25%, 11/21/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,108<br>| $700095 |
| 0.50%, 09/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,310<br>| 807350 |
| 4.25%, 04/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 970<br>| 639959 |
| 4.75%, 04/21/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,390<br>| 930109 |
|  |  | 3077513 |
| **Austria — 4.6%** | **Austria — 4.6%** | **Austria — 4.6%** |
| Republic of Austria Government Bond |  |  |
| 0.50%, 04/20/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 990<br>| 1028090 |
| 0.75%, 10/20/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 907<br>| 955679 |
| 4.85%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 672<br>| 753043 |
| 6.25%, 07/15/27 | &nbsp;&nbsp; EUR<br> 310<br>| 370434 |
|  |  | 3107246 |
| **Belgium — 4.6%** | **Belgium — 4.6%** | **Belgium — 4.6%** |
| Kingdom of Belgium Government Bond |  |  |
| 0.00%, 10/22/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 510<br>| 516364 |
| 0.80%, 06/22/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,080<br>| 1126604 |
| 1.00%, 06/22/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 710<br>| 754849 |
| 4.50%, 03/28/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 632<br>| 706294 |
|  |  | 3104111 |
| **Canada — 4.5%** | **Canada — 4.5%** | **Canada — 4.5%** |
| Canadian Government Bond |  |  |
| 0.25%, 03/01/26 | &nbsp;&nbsp; CAD<br> 390<br>| 269758 |
| 1.00%, 09/01/26 | &nbsp;&nbsp; CAD<br> 300<br>| 207702 |
| 1.00%, 06/01/27 | &nbsp;&nbsp; CAD<br> 210<br>| 143658 |
| 1.25%, 03/01/27 | &nbsp;&nbsp; CAD<br> 370<br>| 255175 |
| 1.50%, 06/01/26 | &nbsp;&nbsp; CAD<br> 110<br>| 77122 |
| 2.75%, 09/01/27 | &nbsp;&nbsp; CAD<br> 360<br>| 256653 |
| 3.00%, 04/01/26 | &nbsp;&nbsp; CAD<br> 280<br>| 200810 |
| 3.25%, 11/01/26 | &nbsp;&nbsp; CAD<br> 320<br>| 230570 |
| 4.00%, 05/01/26 | &nbsp;&nbsp; CAD<br> 593<br>| 431222 |
| 4.00%, 08/01/26 | &nbsp;&nbsp; CAD<br> 520<br>| 379045 |
| 4.50%, 11/01/25 | &nbsp;&nbsp; CAD<br> 450<br>| 327244 |
| 4.50%, 02/01/26 | &nbsp;&nbsp; CAD<br> 400<br>| 291952 |
|  |  | 3070911 |
| **Denmark — 2.1%** | **Denmark — 2.1%** | **Denmark — 2.1%** |
| Denmark Government Bond |  |  |
| 1.75%, 11/15/25 | &nbsp;&nbsp; DKK<br> 6,960<br>| 1011155 |
| 2.25%, 11/15/26 | &nbsp;&nbsp; DKK<br> 2,990<br>| 436853 |
|  |  | 1448008 |
| **Finland — 3.4%** | **Finland — 3.4%** | **Finland — 3.4%** |
| Finland Government Bond |  |  |
| 0.00%, 09/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 390<br>| 405641 |
| 0.50%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 659<br>| 697100 |
| 0.50%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 570<br>| 588180 |
| 1.38%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 610<br>| 647344 |
|  |  | 2338265 |
| **France — 11.6%** | **France — 11.6%** | **France — 11.6%** |
| French Republic Government Bond OAT |  |  |
| 0.00%, 02/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 710<br>| 748361 |
| 0.00%, 02/25/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 660<br>| 677927 |
| 0.25%, 11/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 545<br>| 566443 |
| 0.50%, 05/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 870<br>| 918804 |
| 1.00%, 11/25/25<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 720<br>| 770805 |
| 1.00%, 05/25/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 760<br>| 795689 |
| 2.50%, 09/24/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,080<br>| 1174535 |
| 2.50%, 09/24/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 440<br>| 477605 |
| 2.75%, 10/25/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,170<br>| 1279285 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| 3.50%, 04/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 466<br>| $514495 |
|  |  | 7923949 |
| **Germany — 8.6%** | **Germany — 8.6%** | **Germany — 8.6%** |
| Bundesobligation |  |  |
| 0.00%, 04/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 420977 |
| 0.00%, 10/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 470<br>| 489832 |
| 0.00%, 04/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 515621 |
| 1.30%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 710<br>| 753350 |
| Bundesrepublik Deutschland Bundesanleihe |  |  |
| 0.00%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 480<br>| 501580 |
| 0.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 614<br>| 639520 |
| 0.50%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 690<br>| 733277 |
| 0.50%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 560<br>| 582417 |
| Bundesschatzanweisungen |  |  |
| 2.50%, 03/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 230<br>| 250570 |
| 2.70%, 09/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 370<br>| 405248 |
| 2.90%, 06/18/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 150<br>| 164530 |
| 3.10%, 12/12/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 360<br>| 394116 |
|  |  | 5851038 |
| **Ireland — 3.1%** | **Ireland — 3.1%** | **Ireland — 3.1%** |
| Ireland Government Bond |  |  |
| 0.20%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 788<br>| 813261 |
| 1.00%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,179<br>| 1256423 |
|  |  | 2069684 |
| **Israel — 3.4%** | **Israel — 3.4%** | **Israel — 3.4%** |
| Israel Government Bond |  |  |
| 0.50%, 02/27/26 | &nbsp;&nbsp; ILS<br> 2,883<br>| 733207 |
| 2.00%, 03/31/27 | &nbsp;&nbsp; ILS<br> 4,770<br>| 1204053 |
| 3.75%, 09/30/27 | &nbsp;&nbsp; ILS<br> 1,130<br>| 295642 |
| 6.25%, 10/30/26 | &nbsp;&nbsp; ILS<br> 170<br>| 47006 |
|  |  | 2279908 |
| **Italy — 10.5%** | **Italy — 10.5%** | **Italy — 10.5%** |
| Italy Buoni Poliennali Del Tesoro |  |  |
| 0.00%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 418875 |
| 0.00%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 380<br>| 394761 |
| 0.50%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 407<br>| 430619 |
| 0.85%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 240<br>| 250889 |
| 0.95%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 430<br>| 444846 |
| 1.10%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 335208 |
| 1.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 380<br>| 401643 |
| 1.60%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 400<br>| 428082 |
| 2.00%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 290<br>| 313189 |
| 2.05%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 230<br>| 245772 |
| 2.10%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 260<br>| 280236 |
| 2.20%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 430<br>| 462035 |
| 2.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 210<br>| 227980 |
| 2.95%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 210<br>| 229385 |
| 3.10%, 08/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 420<br>| 459496 |
| 3.20%, 01/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 220<br>| 240394 |
| 3.45%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 190<br>| 210233 |
| 3.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 360<br>| 394758 |
| 3.80%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 180<br>| 198634 |
| 3.85%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 352<br>| 390549 |
| 4.50%, 03/01/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 359<br>| 399249 |
|  |  | 7156833 |
| **Japan — 9.8%** | **Japan — 9.8%** | **Japan — 9.8%** |
| Japan Government Five Year Bond |  |  |
| 0.00%, 03/20/26 | &nbsp;&nbsp; JPY<br> 63,500<br>| 415926 |
| 0.00%, 06/20/26 | &nbsp;&nbsp; JPY<br> 42,900<br>| 280527 |
| 0.00%, 09/20/26 | &nbsp;&nbsp; JPY<br> 51,550<br>| 336693 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 1-3 Year International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| 0.00%, 12/20/26 | &nbsp;&nbsp; JPY<br> 101,550<br>| $662528 |
| 0.00%, 03/20/27 | &nbsp;&nbsp; JPY<br> 74,500<br>| 485515 |
| 0.00%, 06/20/27 | &nbsp;&nbsp; JPY<br> 70,700<br>| 460229 |
| 0.10%, 12/20/25 | &nbsp;&nbsp; JPY<br> 39,300<br>| 258029 |
| 0.10%, 09/20/27 | &nbsp;&nbsp; JPY<br> 59,200<br>| 385872 |
| Japan Government Ten Year Bond |  |  |
| 0.10%, 03/20/26 | &nbsp;&nbsp; JPY<br> 29,050<br>| 190529 |
| 0.10%, 06/20/26 | &nbsp;&nbsp; JPY<br> 16,950<br>| 111009 |
| 0.10%, 09/20/26 | &nbsp;&nbsp; JPY<br> 19,950<br>| 130535 |
| 0.10%, 09/20/27 | &nbsp;&nbsp; JPY<br> 15,950<br>| 103964 |
| 0.30%, 12/20/25 | &nbsp;&nbsp; JPY<br> 16,800<br>| 110552 |
| Japan Government Twenty Year Bond |  |  |
| 2.00%, 12/20/25 | &nbsp;&nbsp; JPY<br> 10,450<br>| 70088 |
| 2.10%, 03/20/26 | &nbsp;&nbsp; JPY<br> 5,000<br>| 33698 |
| 2.10%, 03/20/27 | &nbsp;&nbsp; JPY<br> 25,800<br>| 176566 |
| 2.30%, 03/20/26 | &nbsp;&nbsp; JPY<br> 14,650<br>| 98999 |
| 2.30%, 06/20/26 | &nbsp;&nbsp; JPY<br> 23,550<br>| 159791 |
| Japan Government Two Year Bond |  |  |
| 0.00%, 12/01/25 | &nbsp;&nbsp; JPY<br> 49,400<br>| 324068 |
| 0.10%, 01/01/26 | &nbsp;&nbsp; JPY<br> 62,000<br>| 407019 |
| 0.10%, 02/01/26 | &nbsp;&nbsp; JPY<br> 44,750<br>| 293652 |
| 0.20%, 03/01/26 | &nbsp;&nbsp; JPY<br> 31,700<br>| 208230 |
| 0.30%, 05/01/26 | &nbsp;&nbsp; JPY<br> 52,900<br>| 347767 |
| 0.40%, 09/01/26 | &nbsp;&nbsp; JPY<br> 27,850<br>| 183212 |
| 0.40%, 10/01/26 | &nbsp;&nbsp; JPY<br> 68,850<br>| 452922 |
|  |  | 6687920 |
| **Netherlands — 4.6%** | **Netherlands — 4.6%** | **Netherlands — 4.6%** |
| Netherlands Government Bond |  |  |
| 0.00%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 606<br>| 640825 |
| 0.00%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 680<br>| 703574 |
| 0.50%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 842<br>| 888409 |
| 0.75%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 877<br>| 915035 |
|  |  | 3147843 |
| **New Zealand — 1.6%** | **New Zealand — 1.6%** | **New Zealand — 1.6%** |
| New Zealand Government Bond |  |  |
| 0.50%, 05/15/26 | &nbsp;&nbsp; NZD<br> 795<br>| 451790 |
| 4.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 1,080<br>| 656016 |
|  |  | 1107806 |
| **Norway — 1.5%** | **Norway — 1.5%** | **Norway — 1.5%** |
| Norway Government Bond |  |  |
| 1.50%, 02/19/26<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 5,938<br>| 522238 |
| 1.75%, 02/17/27<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 5,550<br>| 480722 |
|  |  | 1002960 |
| **Portugal — 4.3%** | **Portugal — 4.3%** | **Portugal — 4.3%** |
| Portugal Obrigacoes do Tesouro OT |  |  |
| 0.70%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 833852 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Portugal (continued)** | **Portugal (continued)** | **Portugal (continued)** |
| 2.88%, 07/21/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,060<br>| $1163853 |
| 4.13%, 04/14/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 840<br>| 956106 |
|  |  | 2953811 |
| **Singapore — 4.6%** | **Singapore — 4.6%** | **Singapore — 4.6%** |
| Singapore Government Bond |  |  |
| 0.50%, 11/01/25 | &nbsp;&nbsp; SGD<br> 800<br>| 592769 |
| 1.25%, 11/01/26 | &nbsp;&nbsp; SGD<br> 740<br>| 544770 |
| 2.13%, 06/01/26 | &nbsp;&nbsp; SGD<br> 931<br>| 698740 |
| 2.88%, 09/01/27 | &nbsp;&nbsp; SGD<br> 340<br>| 258964 |
| 3.50%, 03/01/27 | &nbsp;&nbsp; SGD<br> 1,320<br>| 1017295 |
|  |  | 3112538 |
| **Spain — 6.3%** | **Spain — 6.3%** | **Spain — 6.3%** |
| Spain Government Bond |  |  |
| 0.00%, 01/31/26 | &nbsp;&nbsp; EUR<br> 370<br>| 389938 |
| 0.00%, 01/31/27 | &nbsp;&nbsp; EUR<br> 390<br>| 401030 |
| 0.80%, 07/30/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 363291 |
| 1.30%, 10/31/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 445<br>| 472993 |
| 1.50%, 04/30/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 390<br>| 413931 |
| 1.95%, 04/30/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 310<br>| 334623 |
| 2.15%, 10/31/25<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 440<br>| 476552 |
| 2.50%, 05/31/27 | &nbsp;&nbsp; EUR<br> 450<br>| 488626 |
| 2.80%, 05/31/26 | &nbsp;&nbsp; EUR<br> 460<br>| 502166 |
| 5.90%, 07/30/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 380<br>| 437001 |
|  |  | 4280151 |
| **Sweden — 1.2%** | **Sweden — 1.2%** | **Sweden — 1.2%** |
| Sweden Government Bond, 1.00%, 11/12/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 8,760<br>| 808404 |
| **United Kingdom — 4.5%** | **United Kingdom — 4.5%** | **United Kingdom — 4.5%** |
| United Kingdom Gilt |  |  |
| 0.13%, 01/30/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 230<br>| 282546 |
| 0.38%, 10/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 624<br>| 746202 |
| 1.25%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 330<br>| 393733 |
| 1.50%, 07/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 240<br>| 294997 |
| 3.75%, 03/07/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 600<br>| 761911 |
| 4.13%, 01/29/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 450<br>| 576481 |
|  |  | 3055870 |
| **Total Investments — 99.3%** <br>**(Cost: $67,283,121)** | **Total Investments — 99.3%** <br>**(Cost: $67,283,121)** | 67584769 |
| **Other Assets Less Liabilities — 0.7%** | **Other Assets Less Liabilities — 0.7%** | 498872 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $68083641 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 1-3 Year International Treasury Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(a)</sup> | $10000 | $—<br> $(10000 )<sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— |  | $639 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Foreign Government Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $67584769 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $67584769 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Foreign Government Obligations** | **Foreign Government Obligations** | **Foreign Government Obligations** |
| **Australia — 4.5%** | **Australia — 4.5%** | **Australia — 4.5%** |
| Australia Government Bond |  |  |
| 0.25%, 11/21/25<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,100<br>| $695040 |
| 0.50%, 09/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,856<br>| 1143848 |
| 1.00%, 12/21/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,117<br>| 1152244 |
| 1.00%, 11/21/31<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,336<br>| 1228981 |
| 1.25%, 05/21/32 | &nbsp;&nbsp; AUD<br> 1,142<br>| 601706 |
| 1.50%, 06/21/31<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,290<br>| 713389 |
| 1.75%, 11/21/32<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,610<br>| 869809 |
| 1.75%, 06/21/51<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,245<br>| 431396 |
| 2.25%, 05/21/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,259<br>| 780442 |
| 2.50%, 05/21/30<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,002<br>| 1209032 |
| 2.75%, 11/21/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,339<br>| 849349 |
| 2.75%, 11/21/28<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,540<br>| 965223 |
| 2.75%, 11/21/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,194<br>| 737116 |
| 2.75%, 06/21/35<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 865<br>| 484301 |
| 2.75%, 05/21/41<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 461<br>| 232772 |
| 3.00%, 11/21/33<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,557<br>| 913342 |
| 3.00%, 03/21/47<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,278<br>| 620621 |
| 3.25%, 04/21/29<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,691<br>| 1075867 |
| 3.25%, 06/21/39<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,274<br>| 711608 |
| 3.50%, 12/21/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,074<br>| 649619 |
| 3.75%, 05/21/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,236<br>| 1389078 |
| 3.75%, 04/21/37<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,584<br>| 959046 |
| 4.25%, 04/21/26<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,620<br>| 1068798 |
| 4.25%, 06/21/34<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 730<br>| 471842 |
| 4.25%, 12/21/35<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 500<br>| 320824 |
| 4.50%, 04/21/33<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 2,007<br>| 1328005 |
| 4.75%, 04/21/27<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 1,837<br>| 1229216 |
| 4.75%, 06/21/54<sup>(a)</sup> | &nbsp;&nbsp; AUD<br> 567<br>| 360728 |
|  |  | 23193242 |
| **Austria — 4.5%** | **Austria — 4.5%** | **Austria — 4.5%** |
| Republic of Austria Government Bond |  |  |
| 0.00%, 10/20/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 533<br>| 525608 |
| 0.00%, 02/20/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 969<br>| 919219 |
| 0.00%, 02/20/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,589<br>| 1460873 |
| 0.00%, 10/20/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 668<br>| 447959 |
| 0.25%, 10/20/36<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 464<br>| 366626 |
| 0.50%, 04/20/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 863<br>| 896204 |
| 0.50%, 02/20/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,014<br>| 1013416 |
| 0.50%, 02/20/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 989<br>| 988431 |
| 0.70%, 04/20/71<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 518<br>| 252766 |
| 0.75%, 10/20/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,104<br>| 1163252 |
| 0.75%, 02/20/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 772<br>| 794313 |
| 0.75%, 03/20/51<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 883<br>| 561018 |
| 0.85%, 06/30/2120<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 443<br>| 213181 |
| 0.90%, 02/20/32<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 917<br>| 876474 |
| 1.50%, 02/20/47<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 731<br>| 592685 |
| 1.50%, 11/02/86<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 194<br>| 126530 |
| 1.85%, 05/23/49<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 473<br>| 405122 |
| 2.00%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 437<br>| 471687 |
| 2.10%, 09/20/2117<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 498<br>| 411150 |
| 2.40%, 05/23/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 707<br>| 740123 |
| 2.90%, 05/23/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 389<br>| 429270 |
| 2.90%, 02/20/33<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,807<br>| 1978491 |
| 2.90%, 02/20/34<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 959<br>| 1045697 |
| 3.15%, 06/20/44<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 987<br>| 1077474 |
| 3.15%, 10/20/53<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 373<br>| 405731 |
| 3.20%, 07/15/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 280<br>| 309011 |
| 3.45%, 10/20/30<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 552<br>| 625884 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Austria (continued)** | **Austria (continued)** | **Austria (continued)** |
| 3.80%, 01/26/62<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 294<br>| $366329 |
| 4.15%, 03/15/37<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,258<br>| 1528053 |
| 4.85%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 647<br>| 725028 |
| 6.25%, 07/15/27 | &nbsp;&nbsp; EUR<br> 1,443<br>| 1724309 |
|  |  | 23441914 |
| **Belgium — 4.5%** | **Belgium — 4.5%** | **Belgium — 4.5%** |
| Kingdom of Belgium Government Bond |  |  |
| 0.00%, 10/22/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 387<br>| 391829 |
| 0.00%, 10/22/31<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 637<br>| 573441 |
| 0.10%, 06/22/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 620<br>| 586125 |
| 0.35%, 06/22/32<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,136<br>| 1027471 |
| 0.40%, 06/22/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 596<br>| 422107 |
| 0.65%, 06/22/71<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 514<br>| 230965 |
| 0.80%, 06/22/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 319<br>| 332766 |
| 0.80%, 06/22/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 978<br>| 1002168 |
| 0.90%, 06/22/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,668<br>| 1683007 |
| 1.00%, 06/22/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,098<br>| 1167357 |
| 1.00%, 06/22/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,040<br>| 1014288 |
| 1.40%, 06/22/53<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 642<br>| 438136 |
| 1.45%, 06/22/37<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 748<br>| 672227 |
| 1.60%, 06/22/47<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 408<br>| 318515 |
| 1.70%, 06/22/50<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 642<br>| 492676 |
| 1.90%, 06/22/38<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 718<br>| 671273 |
| 2.15%, 06/22/66<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 419<br>| 333043 |
| 2.25%, 06/22/57<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 394<br>| 325030 |
| 2.70%, 10/22/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 182<br>| 198921 |
| 2.75%, 04/22/39<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 141<br>| 145367 |
| 2.75%, 04/22/39<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 317<br>| 326817 |
| 2.85%, 10/22/34<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 752<br>| 809317 |
| 3.00%, 06/22/33<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 917<br>| 1007441 |
| 3.00%, 06/22/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 619<br>| 677424 |
| 3.30%, 06/22/54<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 336<br>| 351303 |
| 3.30%, 06/22/54<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 366<br>| 382670 |
| 3.45%, 06/22/43<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 324<br>| 356977 |
| 3.50%, 06/22/55<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 201<br>| 217195 |
| 3.50%, 06/22/55<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 260<br>| 280948 |
| 3.75%, 06/22/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 652<br>| 747087 |
| 4.00%, 03/28/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 565<br>| 663406 |
| 4.25%, 03/28/41<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 553<br>| 674293 |
| 4.50%, 03/28/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 730<br>| 815714 |
| 5.00%, 03/28/35<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,133<br>| 1447341 |
| 5.50%, 03/28/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,564<br>| 1864535 |
| Series 86, 1.25%, 04/22/33<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 815<br>| 783326 |
|  |  | 23432506 |
| **Canada — 4.5%** | **Canada — 4.5%** | **Canada — 4.5%** |
| Canadian Government Bond |  |  |
| 0.25%, 03/01/26 | &nbsp;&nbsp; CAD<br> 2,686<br>| 1857871 |
| 0.50%, 12/01/30 | &nbsp;&nbsp; CAD<br> 1,935<br>| 1189342 |
| 1.00%, 09/01/26 | &nbsp;&nbsp; CAD<br> 581<br>| 402250 |
| 1.00%, 06/01/27 | &nbsp;&nbsp; CAD<br> 188<br>| 128609 |
| 1.25%, 03/01/27 | &nbsp;&nbsp; CAD<br> 273<br>| 188278 |
| 1.25%, 06/01/30 | &nbsp;&nbsp; CAD<br> 1,443<br>| 940481 |
| 1.50%, 06/01/26 | &nbsp;&nbsp; CAD<br> 210<br>| 147233 |
| 1.50%, 06/01/31 | &nbsp;&nbsp; CAD<br> 1,268<br>| 823255 |
| 1.50%, 12/01/31 | &nbsp;&nbsp; CAD<br> 1,620<br>| 1036958 |
| 1.75%, 12/01/53 | &nbsp;&nbsp; CAD<br> 1,484<br>| 761499 |
| 2.00%, 06/01/28 | &nbsp;&nbsp; CAD<br> 1,199<br>| 832966 |
| 2.00%, 06/01/32 | &nbsp;&nbsp; CAD<br> 1,147<br>| 758947 |
| 2.00%, 12/01/51 | &nbsp;&nbsp; CAD<br> 1,633<br>| 899167 |
| 2.25%, 06/01/29 | &nbsp;&nbsp; CAD<br> 456<br>| 318098 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| 2.50%, 12/01/32 | &nbsp;&nbsp; CAD<br> 1,126<br>| $769264 |
| 2.75%, 09/01/27 | &nbsp;&nbsp; CAD<br> 358<br>| 255227 |
| 2.75%, 06/01/33 | &nbsp;&nbsp; CAD<br> 1,090<br>| 756804 |
| 2.75%, 12/01/48 | &nbsp;&nbsp; CAD<br> 705<br>| 460079 |
| 2.75%, 12/01/55 | &nbsp;&nbsp; CAD<br> 1,383<br>| 890967 |
| 2.75%, 12/01/64 | &nbsp;&nbsp; CAD<br> 232<br>| 149997 |
| 3.00%, 06/01/34 | &nbsp;&nbsp; CAD<br> 1,917<br>| 1352426 |
| 3.25%, 09/01/28 | &nbsp;&nbsp; CAD<br> 1,217<br>| 881561 |
| 3.25%, 12/01/33 | &nbsp;&nbsp; CAD<br> 1,144<br>| 824820 |
| 3.25%, 12/01/34 | &nbsp;&nbsp; CAD<br> 699<br>| 502536 |
| 3.50%, 03/01/28 | &nbsp;&nbsp; CAD<br> 722<br>| 526767 |
| 3.50%, 09/01/29 | &nbsp;&nbsp; CAD<br> 1,249<br>| 915954 |
| 3.50%, 12/01/45 | &nbsp;&nbsp; CAD<br> 354<br>| 262065 |
| 4.00%, 05/01/26 | &nbsp;&nbsp; CAD<br> 1,470<br>| 1068966 |
| 4.00%, 08/01/26 | &nbsp;&nbsp; CAD<br> 990<br>| 721644 |
| 4.00%, 03/01/29 | &nbsp;&nbsp; CAD<br> 1,626<br>| 1213973 |
| 4.00%, 06/01/41 | &nbsp;&nbsp; CAD<br> 345<br>| 270819 |
| 4.50%, 11/01/25 | &nbsp;&nbsp; CAD<br> 538<br>| 391239 |
| 4.50%, 02/01/26 | &nbsp;&nbsp; CAD<br> 830<br>| 605801 |
| 5.00%, 06/01/37 | &nbsp;&nbsp; CAD<br> 28<br>| 23689 |
| 5.75%, 06/01/29 | &nbsp;&nbsp; CAD<br> 340<br>| 272002 |
| 5.75%, 06/01/33 | &nbsp;&nbsp; CAD<br> 57<br>| 48598 |
|  |  | 23450152 |
| **Denmark — 2.7%** | **Denmark — 2.7%** | **Denmark — 2.7%** |
| Denmark Government Bond |  |  |
| 0.00%, 11/15/31 | &nbsp;&nbsp; DKK<br> 6,371<br>| 803771 |
| 0.25%, 11/15/52 | &nbsp;&nbsp; DKK<br> 12,477<br>| 1035349 |
| 0.50%, 11/15/27 | &nbsp;&nbsp; DKK<br> 9,216<br>| 1286497 |
| 0.50%, 11/15/29 | &nbsp;&nbsp; DKK<br> 14,133<br>| 1910147 |
| 1.75%, 11/15/25 | &nbsp;&nbsp; DKK<br> 14,492<br>| 2105411 |
| 2.25%, 11/15/26 | &nbsp;&nbsp; DKK<br> 4,144<br>| 605458 |
| 2.25%, 11/15/33 | &nbsp;&nbsp; DKK<br> 14,171<br>| 2074811 |
| 4.50%, 11/15/39 | &nbsp;&nbsp; DKK<br> 21,128<br>| 3887074 |
|  |  | 13708518 |
| **Finland — 4.6%** | **Finland — 4.6%** | **Finland — 4.6%** |
| Finland Government Bond |  |  |
| 0.00%, 09/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 72<br>| 74888 |
| 0.00%, 09/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,170<br>| 1216925 |
| 0.00%, 09/15/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,277<br>| 1192297 |
| 0.13%, 09/15/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,303<br>| 1191627 |
| 0.13%, 04/15/36<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,313<br>| 1036913 |
| 0.13%, 04/15/52<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 835<br>| 426052 |
| 0.25%, 09/15/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 723<br>| 510543 |
| 0.50%, 04/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,232<br>| 1303228 |
| 0.50%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 832<br>| 858536 |
| 0.50%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,674<br>| 1688441 |
| 0.50%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,888<br>| 1860421 |
| 0.50%, 04/15/43<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 881<br>| 612838 |
| 0.75%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 830<br>| 801146 |
| 1.13%, 04/15/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 751<br>| 701448 |
| 1.38%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 508<br>| 539100 |
| 1.38%, 04/15/47<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,138<br>| 902622 |
| 1.50%, 09/15/32<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,431<br>| 1418362 |
| 2.63%, 07/04/42<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 782<br>| 799838 |
| 2.75%, 07/04/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,140<br>| 1253254 |
| 2.75%, 04/15/38<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 985<br>| 1037394 |
| 2.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 921<br>| 1015583 |
| 2.95%, 04/15/55<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 743<br>| 784736 |
| 3.00%, 09/15/33<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,277<br>| 1408642 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Finland (continued)** | **Finland (continued)** | **Finland (continued)** |
| 3.00%, 09/15/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 923<br>| $1014625 |
|  |  | 23649459 |
| **France — 8.5%** | **France — 8.5%** | **France — 8.5%** |
| French Republic Government Bond OAT |  |  |
| 0.00%, 02/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,196<br>| 1260619 |
| 0.00%, 02/25/27<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 667<br>| 685117 |
| 0.00%, 11/25/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 397<br>| 376691 |
| 0.00%, 11/25/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 610<br>| 578795 |
| 0.00%, 11/25/30<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,268<br>| 1166722 |
| 0.00%, 11/25/31<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,416<br>| 1260698 |
| 0.00%, 05/25/32<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 987<br>| 863611 |
| 0.25%, 11/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 975<br>| 1013361 |
| 0.50%, 05/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,399<br>| 1477479 |
| 0.50%, 05/25/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,557<br>| 1535103 |
| 0.50%, 05/25/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 605<br>| 431377 |
| 0.50%, 06/25/44<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 492<br>| 314842 |
| 0.50%, 05/25/72<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 285<br>| 110921 |
| 0.75%, 02/25/28<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,038<br>| 1063485 |
| 0.75%, 05/25/28<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,341<br>| 1366630 |
| 0.75%, 11/25/28<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 827<br>| 833991 |
| 0.75%, 05/25/52<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 545<br>| 306193 |
| 0.75%, 05/25/53<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 652<br>| 358011 |
| 1.00%, 11/25/25<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 611<br>| 653622 |
| 1.00%, 05/25/27<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,044<br>| 1093026 |
| 1.25%, 05/25/34<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,367<br>| 1264655 |
| 1.25%, 05/25/36<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 847<br>| 749497 |
| 1.25%, 05/25/38<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 613<br>| 517163 |
| 1.50%, 05/25/31<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,466<br>| 1469143 |
| 1.50%, 05/25/50<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 779<br>| 560866 |
| 1.75%, 06/25/39<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 837<br>| 747932 |
| 1.75%, 05/25/66<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 396<br>| 269390 |
| 2.00%, 11/25/32<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,014<br>| 1026983 |
| 2.00%, 05/25/48<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 695<br>| 575835 |
| 2.50%, 09/24/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,249<br>| 1358328 |
| 2.50%, 09/24/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 869<br>| 943270 |
| 2.50%, 05/25/30<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,332<br>| 1428888 |
| 2.50%, 05/25/43<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 593<br>| 561181 |
| 2.75%, 10/25/27<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,213<br>| 1326002 |
| 2.75%, 02/25/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,297<br>| 1412928 |
| 2.75%, 02/25/30<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 359<br>| 389799 |
| 3.00%, 05/25/33<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,083<br>| 1176620 |
| 3.00%, 11/25/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 730<br>| 785561 |
| 3.00%, 06/25/49<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 186<br>| 185812 |
| 3.00%, 05/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 517<br>| 501687 |
| 3.25%, 05/25/45<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 787<br>| 830805 |
| 3.25%, 05/25/55<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 299<br>| 303186 |
| 3.25%, 05/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 240<br>| 243360 |
| 3.50%, 04/25/26<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 704<br>| 777075 |
| 3.50%, 11/25/33<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 970<br>| 1092258 |
| 4.00%, 10/25/38<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 541<br>| 634471 |
| 4.00%, 04/25/55<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 428<br>| 498912 |
| 4.00%, 04/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 499<br>| 585692 |
| 4.50%, 04/25/41<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 767<br>| 950856 |
| 4.75%, 04/25/35<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 678<br>| 842956 |
| 5.50%, 04/25/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,496<br>| 1814736 |
| 5.75%, 10/25/32<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 797<br>| 1037075 |
|  |  | 43613216 |
| **Germany — 6.6%** | **Germany — 6.6%** | **Germany — 6.6%** |
| Bundesobligation |  |  |
| 0.00%, 04/10/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 743<br>| 781964 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| 0.00%, 10/09/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 630<br>| $656583 |
| 0.00%, 04/16/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,277<br>| 1316895 |
| 1.30%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 750<br>| 795792 |
| 2.10%, 04/12/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 690<br>| 745977 |
| 2.20%, 04/13/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 637<br>| 693035 |
| 2.40%, 10/19/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 831<br>| 910076 |
| 2.50%, 10/11/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 25<br>| 27490 |
| Bundesrepublik Deutschland Bundesanleihe |  |  |
| 0.00%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 847<br>| 885079 |
| 0.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 465<br>| 473801 |
| 0.00%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 375<br>| 367948 |
| 0.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 610<br>| 591608 |
| 0.00%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 731<br>| 701310 |
| 0.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 343<br>| 325248 |
| 0.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 660<br>| 618405 |
| 0.00%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 776<br>| 717429 |
| 0.00%, 05/15/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 455<br>| 384087 |
| 0.00%, 05/15/36<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 436<br>| 357492 |
| 0.00%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 930<br>| 526653 |
| 0.00%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 707<br>| 381059 |
| 0.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 541<br>| 563486 |
| 0.25%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 362<br>| 367155 |
| 0.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 696<br>| 698946 |
| 0.50%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 99<br>| 105209 |
| 0.50%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 869<br>| 903786 |
| 0.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,093<br>| 1128062 |
| 1.00%, 05/15/38<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 745<br>| 667108 |
| 1.25%, 08/15/48<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 870<br>| 724084 |
| 1.70%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 579<br>| 604205 |
| 1.80%, 08/15/53<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,057<br>| 968019 |
| 2.10%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 562<br>| 606676 |
| 2.20%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 479<br>| 514050 |
| 2.30%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,087<br>| 1181027 |
| 2.40%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 406<br>| 444577 |
| 2.50%, 07/04/44<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 598<br>| 638709 |
| 2.50%, 08/15/46<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 708<br>| 757104 |
| 2.50%, 08/15/54<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 415<br>| 442731 |
| 2.60%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 892<br>| 990037 |
| 2.60%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 595<br>| 659042 |
| 2.60%, 05/15/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 153<br>| 165872 |
| 3.25%, 07/04/42<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 438<br>| 518618 |
| 4.00%, 01/04/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 592<br>| 743794 |
| 4.25%, 07/04/39<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 472<br>| 616620 |
| 4.75%, 07/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 653<br>| 773471 |
| 4.75%, 07/04/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 716<br>| 935473 |
| 4.75%, 07/04/40<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 446<br>| 617806 |
| 5.50%, 01/04/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 567<br>| 730173 |
| 5.63%, 01/04/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 770<br>| 924080 |
| 6.25%, 01/04/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 351<br>| 454690 |
| 6.50%, 07/04/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 448<br>| 540239 |
| Series G, 0.00%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 341<br>| 327057 |
| Series G, 0.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 42<br>| 39353 |
| Series G, 0.00%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 264<br>| 149794 |
| Bundesschatzanweisungen |  |  |
| 2.50%, 03/19/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 490<br>| 533824 |
| 2.70%, 09/17/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 220<br>| 240959 |
| 2.90%, 06/18/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 548433 |
|  |  | 34082200 |
| **Ireland — 4.6%** | **Ireland — 4.6%** | **Ireland — 4.6%** |
| Ireland Government Bond |  |  |
| 0.00%, 10/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,707<br>| 1558960 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Ireland (continued)** | **Ireland (continued)** | **Ireland (continued)** |
| 0.20%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 857<br>| $884473 |
| 0.20%, 10/18/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,567<br>| 1489670 |
| 0.35%, 10/18/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 992<br>| 907695 |
| 0.40%, 05/15/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 985<br>| 841397 |
| 0.55%, 04/22/41<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 952<br>| 717214 |
| 0.90%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,953<br>| 2022556 |
| 1.00%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,270<br>| 2419377 |
| 1.10%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,911<br>| 1962075 |
| 1.30%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 947<br>| 927805 |
| 1.35%, 03/18/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,595<br>| 1616463 |
| 1.50%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,678<br>| 1365283 |
| 1.70%, 05/15/37<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,266<br>| 1211014 |
| 2.00%, 02/18/45<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 2,111<br>| 1972929 |
| 2.40%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 1,674<br>| 1812093 |
| 2.60%, 10/18/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 991<br>| 1067288 |
| 3.00%, 10/18/43<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 724<br>| 797690 |
|  |  | 23573982 |
| **Israel — 3.1%** | **Israel — 3.1%** | **Israel — 3.1%** |
| Israel Government Bond |  |  |
| 0.50%, 02/27/26 | &nbsp;&nbsp; ILS<br> 8,128<br>| 2067120 |
| 1.00%, 03/31/30 | &nbsp;&nbsp; ILS<br> 1,859<br>| 411695 |
| 1.30%, 04/30/32 | &nbsp;&nbsp; ILS<br> 8,490<br>| 1786526 |
| 1.50%, 05/31/37 | &nbsp;&nbsp; ILS<br> 5,622<br>| 1024765 |
| 2.00%, 03/31/27 | &nbsp;&nbsp; ILS<br> 3,529<br>| 890797 |
| 2.25%, 09/28/28 | &nbsp;&nbsp; ILS<br> 8,772<br>| 2152237 |
| 2.80%, 11/29/52 | &nbsp;&nbsp; ILS<br> 4,657<br>| 800377 |
| 3.75%, 09/30/27 | &nbsp;&nbsp; ILS<br> 920<br>| 240700 |
| 3.75%, 02/28/29 | &nbsp;&nbsp; ILS<br> 10,293<br>| 2661310 |
| 3.75%, 03/31/47 | &nbsp;&nbsp; ILS<br> 3,366<br>| 733497 |
| 4.00%, 03/30/35 | &nbsp;&nbsp; ILS<br> 3,285<br>| 820245 |
| 5.50%, 01/31/42 | &nbsp;&nbsp; ILS<br> 6,243<br>| 1759963 |
| 6.25%, 10/30/26 | &nbsp;&nbsp; ILS<br> 2,061<br>| 569885 |
|  |  | 15919117 |
| **Italy — 7.9%** | **Italy — 7.9%** | **Italy — 7.9%** |
| Italy Buoni Poliennali Del Tesoro |  |  |
| 0.00%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 618<br>| 647162 |
| 0.00%, 08/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 770<br>| 799910 |
| 0.25%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 664<br>| 663481 |
| 0.45%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 549<br>| 538735 |
| 0.50%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 738<br>| 780828 |
| 0.50%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 555<br>| 554892 |
| 0.60%, 08/01/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 320<br>| 293278 |
| 0.85%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 456<br>| 476689 |
| 0.90%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 353<br>| 333103 |
| 0.95%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 624<br>| 645545 |
| 0.95%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 497<br>| 479241 |
| 0.95%, 12/01/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 250<br>| 232689 |
| 0.95%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 656<br>| 602391 |
| 0.95%, 03/01/37<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 564<br>| 446904 |
| 1.10%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 492<br>| 515382 |
| 1.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 690<br>| 729299 |
| 1.35%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 904<br>| 899684 |
| 1.45%, 03/01/36<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 330<br>| 285981 |
| 1.50%, 04/30/45<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 254<br>| 181859 |
| 1.60%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 746<br>| 798373 |
| 1.65%, 12/01/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 571<br>| 569324 |
| 1.65%, 03/01/32<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 709<br>| 691232 |
| 1.70%, 09/01/51<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 301<br>| 205880 |
| 1.80%, 03/01/41<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 472<br>| 381470 |
| 2.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 819<br>| 869861 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| 2.05%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 632<br>| $675338 |
| 2.10%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 452<br>| 487179 |
| 2.15%, 09/01/52<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 165<br>| 122921 |
| 2.15%, 03/01/72<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 215<br>| 146805 |
| 2.20%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 669<br>| 718841 |
| 2.25%, 09/01/36<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 401<br>| 376892 |
| 2.45%, 09/01/33<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 432<br>| 436112 |
| 2.45%, 09/01/50<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 357<br>| 290204 |
| 2.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 558<br>| 605775 |
| 2.50%, 12/01/32<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 636<br>| 651110 |
| 2.70%, 03/01/47<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 480<br>| 421748 |
| 2.80%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 513<br>| 557028 |
| 2.80%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 552<br>| 595887 |
| 2.80%, 03/01/67<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 202<br>| 166526 |
| 2.95%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 45<br>| 49154 |
| 2.95%, 09/01/38<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 291<br>| 287173 |
| 3.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 350<br>| 381379 |
| 3.10%, 08/28/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 496<br>| 542642 |
| 3.10%, 03/01/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 167<br>| 164602 |
| 3.25%, 03/01/38<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 183<br>| 187194 |
| 3.25%, 09/01/46<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 526<br>| 507857 |
| 3.35%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 130<br>| 143462 |
| 3.35%, 03/01/35<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 549<br>| 585631 |
| 3.40%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 465<br>| 514984 |
| 3.45%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 178<br>| 196956 |
| 3.45%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 433<br>| 476163 |
| 3.45%, 03/01/48<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 470<br>| 464832 |
| 3.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 488<br>| 535116 |
| 3.50%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 774<br>| 861863 |
| 3.50%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 420<br>| 463872 |
| 3.70%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 460<br>| 514540 |
| 3.80%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 291<br>| 326766 |
| 3.85%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 263<br>| 291803 |
| 3.85%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 539<br>| 608178 |
| 3.85%, 07/01/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 410<br>| 456569 |
| 3.85%, 02/01/35<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 211<br>| 233828 |
| 3.85%, 09/01/49<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 368<br>| 386074 |
| 4.00%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 258<br>| 292816 |
| 4.00%, 10/30/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 288<br>| 328691 |
| 4.00%, 04/30/35<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 290<br>| 327813 |
| 4.00%, 02/01/37<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 919<br>| 1032120 |
| 4.05%, 10/30/37<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 113<br>| 126527 |
| 4.15%, 10/01/39<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 322<br>| 358914 |
| 4.20%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 270<br>| 309406 |
| 4.30%, 10/01/54<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 180<br>| 198635 |
| 4.35%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 431<br>| 500845 |
| 4.40%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 339<br>| 396094 |
| 4.45%, 09/01/43<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 156<br>| 178496 |
| 4.50%, 03/01/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 336<br>| 373671 |
| 4.50%, 10/01/53<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 381<br>| 437044 |
| 4.75%, 09/01/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 657<br>| 763269 |
| 4.75%, 09/01/44<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 483<br>| 576193 |
| 5.00%, 08/01/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 665<br>| 810105 |
| 5.00%, 08/01/39<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 620<br>| 756642 |
| 5.00%, 09/01/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 577<br>| 703883 |
| 5.25%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 990<br>| 1190622 |
| 5.75%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 705<br>| 895367 |
| 6.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 407<br>| 516125 |
| 7.25%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; EUR<br> 705<br>| 835680 |
|  |  | 40965155 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan — 12.8%** | **Japan — 12.8%** | **Japan — 12.8%** |
| Japan Government Five Year Bond |  |  |
| 0.00%, 06/20/26 | &nbsp;&nbsp; JPY<br> 43,050<br>| $281508 |
| 0.00%, 09/20/26 | &nbsp;&nbsp; JPY<br> 14,550<br>| 95032 |
| 0.00%, 06/20/27 | &nbsp;&nbsp; JPY<br> 33,900<br>| 220676 |
| 0.10%, 12/20/25 | &nbsp;&nbsp; JPY<br> 24,950<br>| 163812 |
| 0.10%, 03/20/27 | &nbsp;&nbsp; JPY<br> 36,900<br>| 241021 |
| 0.10%, 09/20/27 | &nbsp;&nbsp; JPY<br> 41,550<br>| 270827 |
| 0.10%, 03/20/28 | &nbsp;&nbsp; JPY<br> 73,800<br>| 479821 |
| 0.10%, 06/20/28 | &nbsp;&nbsp; JPY<br> 77,950<br>| 506239 |
| 0.20%, 03/20/28 | &nbsp;&nbsp; JPY<br> 98,700<br>| 643876 |
| 0.30%, 12/20/27 | &nbsp;&nbsp; JPY<br> 2,300<br>| 15068 |
| 0.40%, 09/20/28 | &nbsp;&nbsp; JPY<br> 88,400<br>| 579889 |
| 0.40%, 12/20/28 | &nbsp;&nbsp; JPY<br> 26,850<br>| 175918 |
| 0.40%, 03/20/29 | &nbsp;&nbsp; JPY<br> 68,650<br>| 449401 |
| 0.40%, 06/20/29 | &nbsp;&nbsp; JPY<br> 80,900<br>| 528864 |
| 0.50%, 03/20/29 | &nbsp;&nbsp; JPY<br> 79,700<br>| 523983 |
| 0.50%, 06/20/29 | &nbsp;&nbsp; JPY<br> 100,650<br>| 660969 |
| 0.60%, 06/20/29 | &nbsp;&nbsp; JPY<br> 62,350<br>| 411303 |
| Japan Government Forty Year Bond |  |  |
| 0.40%, 03/20/56 | &nbsp;&nbsp; JPY<br> 75,450<br>| 292852 |
| 0.50%, 03/20/59 | &nbsp;&nbsp; JPY<br> 65,150<br>| 247483 |
| 0.50%, 03/20/60 | &nbsp;&nbsp; JPY<br> 99,650<br>| 369920 |
| 0.70%, 03/20/61 | &nbsp;&nbsp; JPY<br> 66,650<br>| 262463 |
| 0.80%, 03/20/58 | &nbsp;&nbsp; JPY<br> 49,850<br>| 216251 |
| 1.00%, 03/20/62 | &nbsp;&nbsp; JPY<br> 89,250<br>| 385894 |
| 1.30%, 03/20/63 | &nbsp;&nbsp; JPY<br> 94,000<br>| 444270 |
| 1.40%, 03/20/55 | &nbsp;&nbsp; JPY<br> 8,800<br>| 47647 |
| 1.70%, 03/20/54 | &nbsp;&nbsp; JPY<br> 22,450<br>| 132407 |
| 1.90%, 03/20/53 | &nbsp;&nbsp; JPY<br> 34,850<br>| 216843 |
| 2.00%, 03/20/52 | &nbsp;&nbsp; JPY<br> 61,050<br>| 391754 |
| 2.20%, 03/20/49 | &nbsp;&nbsp; JPY<br> 32,800<br>| 224033 |
| 2.20%, 03/20/50 | &nbsp;&nbsp; JPY<br> 30,700<br>| 208026 |
| 2.20%, 03/20/51 | &nbsp;&nbsp; JPY<br> 58,450<br>| 393447 |
| 2.20%, 03/20/64 | &nbsp;&nbsp; JPY<br> 37,500<br>| 229968 |
| 2.40%, 03/20/48 | &nbsp;&nbsp; JPY<br> 2,200<br>| 15671 |
| Japan Government Ten Year Bond |  |  |
| 0.10%, 12/20/26 | &nbsp;&nbsp; JPY<br> 39,850<br>| 260515 |
| 0.10%, 03/20/27 | &nbsp;&nbsp; JPY<br> 26,400<br>| 172437 |
| 0.10%, 06/20/27 | &nbsp;&nbsp; JPY<br> 30,150<br>| 196755 |
| 0.10%, 09/20/27 | &nbsp;&nbsp; JPY<br> 2,800<br>| 18251 |
| 0.10%, 12/20/27 | &nbsp;&nbsp; JPY<br> 16,300<br>| 106123 |
| 0.10%, 03/20/28 | &nbsp;&nbsp; JPY<br> 67,500<br>| 438861 |
| 0.10%, 06/20/28 | &nbsp;&nbsp; JPY<br> 101,950<br>| 662105 |
| 0.10%, 12/20/28 | &nbsp;&nbsp; JPY<br> 42,850<br>| 277321 |
| 0.10%, 06/20/29 | &nbsp;&nbsp; JPY<br> 19,250<br>| 124124 |
| 0.10%, 09/20/29 | &nbsp;&nbsp; JPY<br> 26,050<br>| 167679 |
| 0.10%, 12/20/29 | &nbsp;&nbsp; JPY<br> 11,450<br>| 73580 |
| 0.10%, 06/20/30 | &nbsp;&nbsp; JPY<br> 26,150<br>| 167612 |
| 0.10%, 12/20/30 | &nbsp;&nbsp; JPY<br> 41,750<br>| 266657 |
| 0.10%, 03/20/31 | &nbsp;&nbsp; JPY<br> 52,200<br>| 332649 |
| 0.10%, 06/20/31 | &nbsp;&nbsp; JPY<br> 32,100<br>| 204203 |
| 0.10%, 09/20/31 | &nbsp;&nbsp; JPY<br> 34,550<br>| 219252 |
| 0.10%, 12/20/31 | &nbsp;&nbsp; JPY<br> 15,600<br>| 98742 |
| 0.20%, 09/20/32 | &nbsp;&nbsp; JPY<br> 39,250<br>| 248295 |
| 0.40%, 06/20/33 | &nbsp;&nbsp; JPY<br> 95,400<br>| 607907 |
| 0.50%, 12/20/32 | &nbsp;&nbsp; JPY<br> 32,800<br>| 211855 |
| 0.50%, 03/20/33 | &nbsp;&nbsp; JPY<br> 40,100<br>| 258341 |
| 0.60%, 12/20/33 | &nbsp;&nbsp; JPY<br> 58,950<br>| 379687 |
| 0.80%, 09/20/33 | &nbsp;&nbsp; JPY<br> 79,050<br>| 519886 |
| 0.80%, 03/20/34 | &nbsp;&nbsp; JPY<br> 102,600<br>| 670979 |
| 1.10%, 06/20/34 | &nbsp;&nbsp; JPY<br> 199,100<br>| 1334287 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Japan Government Thirty Year Bond |  |  |
| 0.30%, 06/20/46 | &nbsp;&nbsp; JPY<br> 36,200<br>| $171484 |
| 0.40%, 06/20/49 | &nbsp;&nbsp; JPY<br> 34,300<br>| 155219 |
| 0.40%, 09/20/49 | &nbsp;&nbsp; JPY<br> 12,050<br>| 54196 |
| 0.40%, 12/20/49 | &nbsp;&nbsp; JPY<br> 57,050<br>| 255035 |
| 0.40%, 03/20/50 | &nbsp;&nbsp; JPY<br> 38,450<br>| 170707 |
| 0.50%, 09/20/46 | &nbsp;&nbsp; JPY<br> 30,500<br>| 150719 |
| 0.50%, 03/20/49 | &nbsp;&nbsp; JPY<br> 32,450<br>| 151847 |
| 0.60%, 12/20/46 | &nbsp;&nbsp; JPY<br> 37,050<br>| 186374 |
| 0.60%, 06/20/50 | &nbsp;&nbsp; JPY<br> 54,700<br>| 255571 |
| 0.60%, 09/20/50 | &nbsp;&nbsp; JPY<br> 54,600<br>| 253847 |
| 0.70%, 06/20/48 | &nbsp;&nbsp; JPY<br> 22,750<br>| 113865 |
| 0.70%, 12/20/48 | &nbsp;&nbsp; JPY<br> 39,550<br>| 196128 |
| 0.70%, 12/20/50 | &nbsp;&nbsp; JPY<br> 80,350<br>| 382226 |
| 0.70%, 03/20/51 | &nbsp;&nbsp; JPY<br> 83,250<br>| 394158 |
| 0.70%, 06/20/51 | &nbsp;&nbsp; JPY<br> 79,950<br>| 376413 |
| 0.70%, 09/20/51 | &nbsp;&nbsp; JPY<br> 77,150<br>| 361494 |
| 0.70%, 12/20/51 | &nbsp;&nbsp; JPY<br> 53,300<br>| 248543 |
| 0.80%, 03/20/46 | &nbsp;&nbsp; JPY<br> 30,750<br>| 164389 |
| 0.80%, 03/20/47 | &nbsp;&nbsp; JPY<br> 44,400<br>| 232651 |
| 0.80%, 06/20/47 | &nbsp;&nbsp; JPY<br> 11,350<br>| 59258 |
| 0.80%, 09/20/47 | &nbsp;&nbsp; JPY<br> 33,650<br>| 174927 |
| 0.80%, 12/20/47 | &nbsp;&nbsp; JPY<br> 25,400<br>| 131462 |
| 0.80%, 03/20/48 | &nbsp;&nbsp; JPY<br> 55,250<br>| 284704 |
| 0.90%, 09/20/48 | &nbsp;&nbsp; JPY<br> 22,000<br>| 115069 |
| 1.00%, 03/20/52 | &nbsp;&nbsp; JPY<br> 79,800<br>| 403380 |
| 1.20%, 06/20/53 | &nbsp;&nbsp; JPY<br> 76,900<br>| 402432 |
| 1.30%, 06/20/52 | &nbsp;&nbsp; JPY<br> 60,650<br>| 330290 |
| 1.40%, 09/20/45 | &nbsp;&nbsp; JPY<br> 22,100<br>| 134497 |
| 1.40%, 12/20/45 | &nbsp;&nbsp; JPY<br> 10,750<br>| 65171 |
| 1.40%, 09/20/52 | &nbsp;&nbsp; JPY<br> 57,150<br>| 318004 |
| 1.40%, 03/20/53 | &nbsp;&nbsp; JPY<br> 44,250<br>| 244619 |
| 1.50%, 12/20/44 | &nbsp;&nbsp; JPY<br> 26,050<br>| 162841 |
| 1.50%, 03/20/45 | &nbsp;&nbsp; JPY<br> 54,950<br>| 342535 |
| 1.60%, 06/20/45 | &nbsp;&nbsp; JPY<br> 21,050<br>| 133202 |
| 1.60%, 12/20/52 | &nbsp;&nbsp; JPY<br> 62,200<br>| 362131 |
| 1.60%, 12/20/53 | &nbsp;&nbsp; JPY<br> 51,600<br>| 297575 |
| 1.70%, 06/20/33 | &nbsp;&nbsp; JPY<br> 31,850<br>| 225700 |
| 1.70%, 12/20/43 | &nbsp;&nbsp; JPY<br> 34,100<br>| 223414 |
| 1.70%, 03/20/44 | &nbsp;&nbsp; JPY<br> 24,850<br>| 162451 |
| 1.70%, 06/20/44 | &nbsp;&nbsp; JPY<br> 35,900<br>| 233990 |
| 1.70%, 09/20/44 | &nbsp;&nbsp; JPY<br> 33,350<br>| 216558 |
| 1.80%, 11/22/32 | &nbsp;&nbsp; JPY<br> 14,050<br>| 100191 |
| 1.80%, 03/20/43 | &nbsp;&nbsp; JPY<br> 54,850<br>| 368052 |
| 1.80%, 09/20/43 | &nbsp;&nbsp; JPY<br> 44,950<br>| 299997 |
| 1.80%, 09/20/53 | &nbsp;&nbsp; JPY<br> 33,600<br>| 203716 |
| 1.80%, 03/20/54 | &nbsp;&nbsp; JPY<br> 60,100<br>| 362997 |
| 1.90%, 09/20/42 | &nbsp;&nbsp; JPY<br> 56,250<br>| 384772 |
| 1.90%, 06/20/43 | &nbsp;&nbsp; JPY<br> 36,350<br>| 247002 |
| 2.00%, 12/20/33 | &nbsp;&nbsp; JPY<br> 12,750<br>| 92468 |
| 2.00%, 09/20/40 | &nbsp;&nbsp; JPY<br> 85,350<br>| 600753 |
| 2.00%, 09/20/41 | &nbsp;&nbsp; JPY<br> 65,700<br>| 459290 |
| 2.00%, 03/20/42 | &nbsp;&nbsp; JPY<br> 83,600<br>| 582416 |
| 2.10%, 09/20/33 | &nbsp;&nbsp; JPY<br> 22,500<br>| 164478 |
| 2.10%, 09/20/54 | &nbsp;&nbsp; JPY<br> 16,900<br>| 109203 |
| 2.20%, 09/20/39 | &nbsp;&nbsp; JPY<br> 56,100<br>| 407580 |
| 2.20%, 03/20/41 | &nbsp;&nbsp; JPY<br> 84,150<br>| 606302 |
| 2.20%, 06/20/54 | &nbsp;&nbsp; JPY<br> 66,450<br>| 438328 |
| 2.30%, 05/20/32 | &nbsp;&nbsp; JPY<br> 12,900<br>| 94953 |
| 2.30%, 03/20/35 | &nbsp;&nbsp; JPY<br> 24,750<br>| 183952 |
| 2.30%, 12/20/35 | &nbsp;&nbsp; JPY<br> 26,450<br>| 196549 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| 2.30%, 12/20/36 | &nbsp;&nbsp; JPY<br> 35,250<br>| $261542 |
| 2.30%, 03/20/39 | &nbsp;&nbsp; JPY<br> 68,850<br>| 507281 |
| 2.30%, 03/20/40 | &nbsp;&nbsp; JPY<br> 82,050<br>| 602182 |
| 2.40%, 03/20/34 | &nbsp;&nbsp; JPY<br> 27,650<br>| 206967 |
| 2.40%, 12/20/34 | &nbsp;&nbsp; JPY<br> 22,150<br>| 166055 |
| 2.40%, 09/20/38 | &nbsp;&nbsp; JPY<br> 52,100<br>| 388960 |
| 2.50%, 06/20/34 | &nbsp;&nbsp; JPY<br> 26,450<br>| 199580 |
| 2.50%, 09/20/34 | &nbsp;&nbsp; JPY<br> 20,600<br>| 155624 |
| 2.50%, 09/20/35 | &nbsp;&nbsp; JPY<br> 19,000<br>| 143773 |
| 2.50%, 03/20/36 | &nbsp;&nbsp; JPY<br> 28,550<br>| 216207 |
| 2.50%, 06/20/36 | &nbsp;&nbsp; JPY<br> 35,250<br>| 266746 |
| 2.50%, 09/20/36 | &nbsp;&nbsp; JPY<br> 19,150<br>| 144931 |
| 2.50%, 09/20/37 | &nbsp;&nbsp; JPY<br> 27,450<br>| 207898 |
| 2.50%, 03/20/38 | &nbsp;&nbsp; JPY<br> 47,600<br>| 359857 |
| Japan Government Twenty Year Bond |  |  |
| 0.20%, 06/20/36 | &nbsp;&nbsp; JPY<br> 30,750<br>| 182011 |
| 0.30%, 06/20/39 | &nbsp;&nbsp; JPY<br> 52,550<br>| 295382 |
| 0.30%, 09/20/39 | &nbsp;&nbsp; JPY<br> 64,350<br>| 359676 |
| 0.30%, 12/20/39 | &nbsp;&nbsp; JPY<br> 71,250<br>| 396039 |
| 0.40%, 03/20/36 | &nbsp;&nbsp; JPY<br> 49,700<br>| 302950 |
| 0.40%, 03/20/39 | &nbsp;&nbsp; JPY<br> 40,650<br>| 233351 |
| 0.40%, 03/20/40 | &nbsp;&nbsp; JPY<br> 79,150<br>| 444790 |
| 0.40%, 06/20/40 | &nbsp;&nbsp; JPY<br> 40,600<br>| 226790 |
| 0.40%, 09/20/40 | &nbsp;&nbsp; JPY<br> 75,950<br>| 421689 |
| 0.40%, 06/20/41 | &nbsp;&nbsp; JPY<br> 78,700<br>| 430022 |
| 0.50%, 09/20/36 | &nbsp;&nbsp; JPY<br> 57,900<br>| 353794 |
| 0.50%, 03/20/38 | &nbsp;&nbsp; JPY<br> 69,500<br>| 413391 |
| 0.50%, 06/20/38 | &nbsp;&nbsp; JPY<br> 59,050<br>| 349345 |
| 0.50%, 12/20/38 | &nbsp;&nbsp; JPY<br> 18,100<br>| 106036 |
| 0.50%, 12/20/40 | &nbsp;&nbsp; JPY<br> 89,650<br>| 503483 |
| 0.50%, 03/20/41 | &nbsp;&nbsp; JPY<br> 70,600<br>| 394661 |
| 0.50%, 09/20/41 | &nbsp;&nbsp; JPY<br> 84,750<br>| 468663 |
| 0.50%, 12/20/41 | &nbsp;&nbsp; JPY<br> 88,950<br>| 489196 |
| 0.60%, 12/20/36 | &nbsp;&nbsp; JPY<br> 61,100<br>| 376203 |
| 0.60%, 06/20/37 | &nbsp;&nbsp; JPY<br> 49,700<br>| 303460 |
| 0.60%, 09/20/37 | &nbsp;&nbsp; JPY<br> 55,750<br>| 339109 |
| 0.60%, 12/20/37 | &nbsp;&nbsp; JPY<br> 46,750<br>| 282977 |
| 0.70%, 09/20/38 | &nbsp;&nbsp; JPY<br> 37,400<br>| 226305 |
| 0.80%, 03/20/42 | &nbsp;&nbsp; JPY<br> 99,400<br>| 573568 |
| 0.90%, 06/20/42 | &nbsp;&nbsp; JPY<br> 92,650<br>| 541662 |
| 1.10%, 09/20/42 | &nbsp;&nbsp; JPY<br> 77,250<br>| 465534 |
| 1.10%, 03/20/43 | &nbsp;&nbsp; JPY<br> 66,200<br>| 395967 |
| 1.10%, 06/20/43 | &nbsp;&nbsp; JPY<br> 45,150<br>| 269010 |
| 1.20%, 12/20/34 | &nbsp;&nbsp; JPY<br> 70,050<br>| 471595 |
| 1.20%, 03/20/35 | &nbsp;&nbsp; JPY<br> 51,400<br>| 345179 |
| 1.20%, 09/20/35 | &nbsp;&nbsp; JPY<br> 60,850<br>| 406835 |
| 1.30%, 12/20/43 | &nbsp;&nbsp; JPY<br> 65,750<br>| 402713 |
| 1.40%, 09/20/34 | &nbsp;&nbsp; JPY<br> 69,900<br>| 480274 |
| 1.40%, 12/20/42 | &nbsp;&nbsp; JPY<br> 88,600<br>| 559141 |
| 1.50%, 03/20/33 | &nbsp;&nbsp; JPY<br> 30,850<br>| 215243 |
| 1.50%, 03/20/34 | &nbsp;&nbsp; JPY<br> 53,000<br>| 368415 |
| 1.50%, 06/20/34 | &nbsp;&nbsp; JPY<br> 44,200<br>| 306802 |
| 1.50%, 09/20/43 | &nbsp;&nbsp; JPY<br> 59,100<br>| 375608 |
| 1.60%, 03/20/32 | &nbsp;&nbsp; JPY<br> 7,400<br>| 51958 |
| 1.60%, 06/20/32 | &nbsp;&nbsp; JPY<br> 19,050<br>| 133838 |
| 1.60%, 03/20/33 | &nbsp;&nbsp; JPY<br> 34,000<br>| 238989 |
| 1.60%, 12/20/33 | &nbsp;&nbsp; JPY<br> 23,850<br>| 167484 |
| 1.60%, 03/20/44 | &nbsp;&nbsp; JPY<br> 59,350<br>| 381502 |
| 1.70%, 09/20/31 | &nbsp;&nbsp; JPY<br> 2,200<br>| 15519 |
| 1.70%, 12/20/31 | &nbsp;&nbsp; JPY<br> 36,550<br>| 258094 |
| 1.70%, 03/20/32 | &nbsp;&nbsp; JPY<br> 25,950<br>| 183536 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| 1.70%, 06/20/32 | &nbsp;&nbsp; JPY<br> 27,450<br>| $194166 |
| 1.70%, 09/20/32 | &nbsp;&nbsp; JPY<br> 27,750<br>| 196573 |
| 1.70%, 12/20/32 | &nbsp;&nbsp; JPY<br> 37,200<br>| 263416 |
| 1.70%, 06/20/33 | &nbsp;&nbsp; JPY<br> 3,950<br>| 27991 |
| 1.70%, 09/20/33 | &nbsp;&nbsp; JPY<br> 51,550<br>| 365247 |
| 1.80%, 09/20/30 | &nbsp;&nbsp; JPY<br> 26,550<br>| 187017 |
| 1.80%, 06/20/31 | &nbsp;&nbsp; JPY<br> 24,850<br>| 176125 |
| 1.80%, 09/20/31 | &nbsp;&nbsp; JPY<br> 48,300<br>| 342814 |
| 1.80%, 12/20/31 | &nbsp;&nbsp; JPY<br> 43,150<br>| 306639 |
| 1.80%, 03/20/32 | &nbsp;&nbsp; JPY<br> 39,150<br>| 278709 |
| 1.80%, 12/20/32 | &nbsp;&nbsp; JPY<br> 2,500<br>| 17843 |
| 1.90%, 12/20/28 | &nbsp;&nbsp; JPY<br> 34,700<br>| 241413 |
| 1.90%, 03/20/29 | &nbsp;&nbsp; JPY<br> 13,050<br>| 90985 |
| 1.90%, 09/20/30 | &nbsp;&nbsp; JPY<br> 16,150<br>| 114365 |
| 1.90%, 06/20/31 | &nbsp;&nbsp; JPY<br> 12,850<br>| 91615 |
| 1.90%, 06/20/44 | &nbsp;&nbsp; JPY<br> 74,450<br>| 501364 |
| 2.00%, 03/20/27 | &nbsp;&nbsp; JPY<br> 1,900<br>| 12973 |
| 2.00%, 06/20/30 | &nbsp;&nbsp; JPY<br> 26,850<br>| 190624 |
| 2.00%, 12/20/30 | &nbsp;&nbsp; JPY<br> 6,650<br>| 47478 |
| 2.00%, 03/20/31 | &nbsp;&nbsp; JPY<br> 40,550<br>| 290074 |
| 2.10%, 03/20/27 | &nbsp;&nbsp; JPY<br> 46,800<br>| 320282 |
| 2.10%, 06/20/27 | &nbsp;&nbsp; JPY<br> 19,500<br>| 133973 |
| 2.10%, 09/20/27 | &nbsp;&nbsp; JPY<br> 16,250<br>| 112045 |
| 2.10%, 12/20/27 | &nbsp;&nbsp; JPY<br> 46,400<br>| 321068 |
| 2.10%, 06/20/28 | &nbsp;&nbsp; JPY<br> 67,150<br>| 467836 |
| 2.10%, 12/20/28 | &nbsp;&nbsp; JPY<br> 23,450<br>| 164397 |
| 2.10%, 03/20/29 | &nbsp;&nbsp; JPY<br> 36,600<br>| 257238 |
| 2.10%, 06/20/29 | &nbsp;&nbsp; JPY<br> 7,400<br>| 52163 |
| 2.10%, 09/20/29 | &nbsp;&nbsp; JPY<br> 29,850<br>| 211021 |
| 2.10%, 12/20/29 | &nbsp;&nbsp; JPY<br> 3,400<br>| 24117 |
| 2.10%, 03/20/30 | &nbsp;&nbsp; JPY<br> 30,250<br>| 215208 |
| 2.10%, 12/20/30 | &nbsp;&nbsp; JPY<br> 54,050<br>| 388001 |
| 2.20%, 09/20/27 | &nbsp;&nbsp; JPY<br> 2,200<br>| 15210 |
| 2.20%, 03/20/28 | &nbsp;&nbsp; JPY<br> 42,300<br>| 294675 |
| 2.20%, 09/20/28 | &nbsp;&nbsp; JPY<br> 15,350<br>| 107668 |
| 2.20%, 06/20/29 | &nbsp;&nbsp; JPY<br> 20,500<br>| 145116 |
| 2.20%, 03/20/31 | &nbsp;&nbsp; JPY<br> 38,550<br>| 279060 |
| 2.30%, 06/20/27 | &nbsp;&nbsp; JPY<br> 3,100<br>| 21405 |
| 2.40%, 03/20/28 | &nbsp;&nbsp; JPY<br> 18,950<br>| 132843 |
| Japan Government Two Year Bond |  |  |
| 0.00%, 12/01/25 | &nbsp;&nbsp; JPY<br> 71,750<br>| 470686 |
| 0.10%, 11/01/25 | &nbsp;&nbsp; JPY<br> 98,200<br>| 645093 |
| 0.10%, 02/01/26 | &nbsp;&nbsp; JPY<br> 137,150<br>| 899987 |
| 0.40%, 06/01/26 | &nbsp;&nbsp; JPY<br> 140,100<br>| 922130 |
| 0.40%, 08/01/26 | &nbsp;&nbsp; JPY<br> 260,550<br>| 1714324 |
| 0.40%, 09/01/26 | &nbsp;&nbsp; JPY<br> 104,550<br>| 687784 |
|  |  | 65823467 |
| **Netherlands — 4.5%** | **Netherlands — 4.5%** | **Netherlands — 4.5%** |
| Netherlands Government Bond |  |  |
| 0.00%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,530<br>| 1617924 |
| 0.00%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 282<br>| 291776 |
| 0.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 756<br>| 744792 |
| 0.00%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,536<br>| 1455587 |
| 0.00%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,179<br>| 1087524 |
| 0.00%, 01/15/38<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,190<br>| 897035 |
| 0.00%, 01/15/52<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,235<br>| 649386 |
| 0.25%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 777<br>| 765143 |
| 0.50%, 07/15/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,328<br>| 1401196 |
| 0.50%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 671<br>| 626967 |
| 0.50%, 01/15/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,005<br>| 783926 |
| 0.75%, 07/15/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,018<br>| 1061670 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| 0.75%, 07/15/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 676<br>| $694067 |
| 2.00%, 01/15/54<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 853<br>| 787003 |
| 2.50%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 684<br>| 746253 |
| 2.50%, 01/15/33<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,157<br>| 1252989 |
| 2.50%, 07/15/33<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 751<br>| 810773 |
| 2.50%, 07/15/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 892<br>| 958339 |
| 2.75%, 01/15/47<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,644<br>| 1778425 |
| 3.25%, 01/15/44<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 603<br>| 697446 |
| 3.75%, 01/15/42<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,074<br>| 1313573 |
| 4.00%, 01/15/37<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,175<br>| 1442043 |
| 5.50%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,349<br>| 1609095 |
|  |  | 23472932 |
| **New Zealand — 2.8%** | **New Zealand — 2.8%** | **New Zealand — 2.8%** |
| New Zealand Government Bond |  |  |
| 0.25%, 05/15/28 | &nbsp;&nbsp; NZD<br> 2,867<br>| 1511256 |
| 0.50%, 05/15/26 | &nbsp;&nbsp; NZD<br> 1,714<br>| 974048 |
| 1.50%, 05/15/31 | &nbsp;&nbsp; NZD<br> 3,674<br>| 1856831 |
| 1.75%, 05/15/41 | &nbsp;&nbsp; NZD<br> 367<br>| 141736 |
| 2.00%, 05/15/32 | &nbsp;&nbsp; NZD<br> 2,576<br>| 1310754 |
| 2.75%, 04/15/37<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 2,040<br>| 995004 |
| 2.75%, 05/15/51 | &nbsp;&nbsp; NZD<br> 1,829<br>| 733467 |
| 3.00%, 04/20/29 | &nbsp;&nbsp; NZD<br> 2,327<br>| 1335263 |
| 3.50%, 04/14/33<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 561<br>| 313673 |
| 4.25%, 05/15/34 | &nbsp;&nbsp; NZD<br> 1,638<br>| 961094 |
| 4.25%, 05/15/36 | &nbsp;&nbsp; NZD<br> 1,631<br>| 939546 |
| 4.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; NZD<br> 1,433<br>| 870435 |
| 4.50%, 05/15/30 | &nbsp;&nbsp; NZD<br> 2,149<br>| 1309065 |
| 4.50%, 05/15/35 | &nbsp;&nbsp; NZD<br> 1,432<br>| 850692 |
| 5.00%, 05/15/54 | &nbsp;&nbsp; NZD<br> 640<br>| 381116 |
|  |  | 14483980 |
| **Norway — 1.5%** | **Norway — 1.5%** | **Norway — 1.5%** |
| Norway Government Bond |  |  |
| 1.25%, 09/17/31<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 12,895<br>| 994362 |
| 1.38%, 08/19/30<sup>(a)(b)</sup> | &nbsp;&nbsp; NOK<br> 16,473<br>| 1312380 |
| 1.50%, 02/19/26<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 16,266<br>| 1430569 |
| 1.75%, 02/17/27<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 6,969<br>| 603631 |
| 1.75%, 09/06/29<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 11,068<br>| 915810 |
| 2.00%, 04/26/28<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 914<br>| 78171 |
| 2.13%, 05/18/32<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 9,574<br>| 776107 |
| 3.00%, 08/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; NOK<br> 1,146<br>| 97786 |
| 3.50%, 10/06/42<sup>(a)(b)</sup> | &nbsp;&nbsp; NOK<br> 6,421<br>| 558564 |
| 3.63%, 04/13/34<sup>(b)</sup> | &nbsp;&nbsp; NOK<br> 11,871<br>| 1060169 |
|  |  | 7827549 |
| **Portugal — 4.6%** | **Portugal — 4.6%** | **Portugal — 4.6%** |
| Portugal Obrigacoes do Tesouro OT |  |  |
| 0.30%, 10/17/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 3,340<br>| 3137459 |
| 1.95%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 3,770<br>| 4032464 |
| 2.13%, 10/17/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 4,330<br>| 4689233 |
| 2.88%, 07/21/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 2,083<br>| 2287081 |
| 2.88%, 10/20/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 3,250<br>| 3561524 |
| 3.50%, 06/18/38<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 2,400<br>| 2747604 |
| 3.63%, 06/12/54<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 1,110<br>| 1265491 |
| 4.10%, 02/15/45<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 1,450<br>| 1790638 |
|  |  | 23511494 |
| **Singapore — 4.2%** | **Singapore — 4.2%** | **Singapore — 4.2%** |
| Singapore Government Bond |  |  |
| 1.25%, 11/01/26 | &nbsp;&nbsp; SGD<br> 2,820<br>| 2076016 |
| 1.63%, 07/01/31 | &nbsp;&nbsp; SGD<br> 809<br>| 569786 |
| 1.88%, 03/01/50 | &nbsp;&nbsp; SGD<br> 1,708<br>| 1086989 |
| 1.88%, 10/01/51 | &nbsp;&nbsp; SGD<br> 1,204<br>| 761980 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| 2.13%, 06/01/26 | &nbsp;&nbsp; SGD<br> 2,365<br>| $1774995 |
| 2.25%, 08/01/36 | &nbsp;&nbsp; SGD<br> 1,923<br>| 1370929 |
| 2.38%, 07/01/39 | &nbsp;&nbsp; SGD<br> 1,163<br>| 828861 |
| 2.63%, 05/01/28 | &nbsp;&nbsp; SGD<br> 1,165<br>| 881174 |
| 2.63%, 08/01/32 | &nbsp;&nbsp; SGD<br> 1,432<br>| 1069928 |
| 2.75%, 04/01/42 | &nbsp;&nbsp; SGD<br> 1,356<br>| 1011368 |
| 2.75%, 03/01/46 | &nbsp;&nbsp; SGD<br> 1,499<br>| 1123268 |
| 2.88%, 09/01/27 | &nbsp;&nbsp; SGD<br> 498<br>| 379306 |
| 2.88%, 08/01/28 | &nbsp;&nbsp; SGD<br> 994<br>| 758157 |
| 2.88%, 07/01/29 | &nbsp;&nbsp; SGD<br> 2,065<br>| 1574873 |
| 2.88%, 09/01/30 | &nbsp;&nbsp; SGD<br> 1,446<br>| 1103406 |
| 3.00%, 04/01/29 | &nbsp;&nbsp; SGD<br> 887<br>| 680831 |
| 3.00%, 08/01/72<sup>(a)</sup> | &nbsp;&nbsp; SGD<br> 1,161<br>| 941724 |
| 3.25%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; SGD<br> 433<br>| 362972 |
| 3.38%, 09/01/33 | &nbsp;&nbsp; SGD<br> 1,866<br>| 1473554 |
| 3.38%, 05/01/34 | &nbsp;&nbsp; SGD<br> 280<br>| 221608 |
| 3.50%, 03/01/27 | &nbsp;&nbsp; SGD<br> 2,089<br>| 1609946 |
|  |  | 21661671 |
| **Spain — 5.1%** | **Spain — 5.1%** | **Spain — 5.1%** |
| Spain Government Bond |  |  |
| 0.00%, 01/31/26 | &nbsp;&nbsp; EUR<br> 491<br>| 517459 |
| 0.00%, 01/31/27 | &nbsp;&nbsp; EUR<br> 649<br>| 667355 |
| 0.00%, 01/31/28 | &nbsp;&nbsp; EUR<br> 753<br>| 754066 |
| 0.10%, 04/30/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 700<br>| 641805 |
| 0.50%, 04/30/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 897<br>| 867183 |
| 0.50%, 10/31/31<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 841<br>| 781942 |
| 0.60%, 10/31/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 669<br>| 657830 |
| 0.70%, 04/30/32<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 319<br>| 297161 |
| 0.70%, 04/30/32<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 280<br>| 260831 |
| 0.80%, 07/30/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 800<br>| 830380 |
| 0.80%, 07/30/29 | &nbsp;&nbsp; EUR<br> 554<br>| 552754 |
| 0.85%, 07/30/37<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 543<br>| 441013 |
| 1.00%, 07/30/42<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 286<br>| 209679 |
| 1.00%, 10/31/50<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 500<br>| 307654 |
| 1.20%, 10/31/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 615<br>| 484405 |
| 1.25%, 10/31/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 849<br>| 847431 |
| 1.30%, 10/31/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 284<br>| 301865 |
| 1.40%, 04/30/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 134<br>| 140128 |
| 1.40%, 07/30/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 313<br>| 326289 |
| 1.45%, 10/31/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 383<br>| 403527 |
| 1.45%, 04/30/29<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 115<br>| 118860 |
| 1.45%, 10/31/71<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 290<br>| 159159 |
| 1.50%, 04/30/27<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 589<br>| 625142 |
| 1.85%, 07/30/35<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 529<br>| 508608 |
| 1.90%, 10/31/52<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 473<br>| 357515 |
| 1.95%, 04/30/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 781<br>| 843034 |
| 1.95%, 07/30/30<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 541<br>| 564539 |
| 2.15%, 10/31/25<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 280<br>| 303260 |
| 2.35%, 07/30/33<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 497<br>| 515192 |
| 2.50%, 05/31/27 | &nbsp;&nbsp; EUR<br> 820<br>| 890385 |
| 2.55%, 10/31/32<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 564<br>| 598049 |
| 2.70%, 10/31/48<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 375<br>| 349335 |
| 2.80%, 05/31/26 | &nbsp;&nbsp; EUR<br> 760<br>| 829666 |
| 2.90%, 10/31/46<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 396<br>| 387075 |
| 3.15%, 04/30/33<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 637<br>| 702812 |
| 3.25%, 04/30/34<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 474<br>| 523770 |
| 3.45%, 10/31/34<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 380<br>| 425712 |
| 3.45%, 10/31/34<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 55<br>| 61616 |
| 3.45%, 07/30/43<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 329<br>| 351621 |
| 3.45%, 07/30/66<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 298<br>| 301615 |
| 3.50%, 05/31/29 | &nbsp;&nbsp; EUR<br> 429<br>| 483099 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| 3.55%, 10/31/33<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 644<br>| $729967 |
| 3.90%, 07/30/39<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 200<br>| 229511 |
| 4.00%, 10/31/54<sup>(a)(b)</sup> | &nbsp;&nbsp; EUR<br> 126<br>| 143452 |
| 4.20%, 01/31/37<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 406<br>| 484124 |
| 4.70%, 07/30/41<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 472<br>| 592392 |
| 4.90%, 07/30/40<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 457<br>| 583448 |
| 5.15%, 10/31/28<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 431<br>| 513363 |
| 5.15%, 10/31/44<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 319<br>| 425652 |
| 5.75%, 07/30/32 | &nbsp;&nbsp; EUR<br> 684<br>| 891099 |
| 5.90%, 07/30/26<sup>(b)</sup> | &nbsp;&nbsp; EUR<br> 626<br>| 719901 |
| 6.00%, 01/31/29 | &nbsp;&nbsp; EUR<br> 851<br>| 1050481 |
|  |  | 26554211 |
| **Sweden — 1.7%** | **Sweden — 1.7%** | **Sweden — 1.7%** |
| Sweden Government Bond |  |  |
| 0.13%, 05/12/31<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 4,475<br>| 371493 |
| 0.75%, 05/12/28<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 20,010<br>| 1805070 |
| 0.75%, 11/12/29<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 17,455<br>| 1545066 |
| 1.00%, 11/12/26<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 11,095<br>| 1023887 |
| 1.75%, 11/11/33<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 17,785<br>| 1621416 |
| 2.25%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 13,230<br>| 1258126 |
| 3.50%, 03/30/39<sup>(a)</sup> | &nbsp;&nbsp; SEK<br> 8,975<br>| 965601 |
|  |  | 8590659 |
| **United Kingdom — 5.8%** | **United Kingdom — 5.8%** | **United Kingdom — 5.8%** |
| United Kingdom Gilt |  |  |
| 0.13%, 01/30/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 300<br>| 368497 |
| 0.13%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 284<br>| 322516 |
| 0.25%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 517<br>| 512851 |
| 0.38%, 10/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 545<br>| 651731 |
| 0.38%, 10/22/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 347<br>| 358623 |
| 0.50%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 635<br>| 703023 |
| 0.50%, 10/22/61<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 414<br>| 152623 |
| 0.63%, 07/31/35<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 551<br>| 480503 |
| 0.63%, 10/22/50<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 508<br>| 253501 |
| 0.88%, 10/22/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 151<br>| 166591 |
| 0.88%, 07/31/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 770<br>| 743069 |
| 0.88%, 01/31/46<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 252<br>| 155907 |
| 1.00%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 741<br>| 761329 |
| 1.13%, 01/31/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 699<br>| 576398 |
| 1.13%, 10/22/73<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 357<br>| 160058 |
| 1.25%, 07/22/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 124<br>| 147948 |
| 1.25%, 10/22/41<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 546<br>| 421368 |
| 1.25%, 07/31/51<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 564<br>| 338899 |
| 1.50%, 07/22/26<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 527<br>| 647765 |
| 1.50%, 07/22/47<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 368<br>| 257995 |
| 1.50%, 07/31/53<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 529<br>| 331101 |
| 1.63%, 10/22/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 360<br>| 421913 |
| 1.63%, 10/22/54<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 295<br>| 189091 |
| 1.63%, 10/22/71<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 335<br>| 187516 |
| 1.75%, 09/07/37<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 398<br>| 374175 |
| 1.75%, 01/22/49<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 329<br>| 238926 |
| 1.75%, 07/22/57<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 535<br>| 347205 |
| 2.50%, 07/22/65<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 243<br>| 187604 |
| 3.25%, 01/31/33<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 851<br>| 1012719 |
| 3.25%, 01/22/44<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 536<br>| 555197 |
| 3.50%, 01/22/45<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 542<br>| 578115 |
| 3.50%, 07/22/68<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 397<br>| 396066 |
| 3.75%, 03/07/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 522<br>| 662862 |
| 3.75%, 01/29/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 793<br>| 937051 |
| 3.75%, 07/22/52<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 313<br>| 335551 |
| 3.75%, 10/22/53<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 315<br>| 335624 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| 4.00%, 10/22/31<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 269<br>| $339613 |
| 4.00%, 01/22/60<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 327<br>| 363996 |
| 4.00%, 10/22/63<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 395<br>| 437721 |
| 4.13%, 01/29/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 819<br>| 1049196 |
| 4.13%, 07/22/29<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 849<br>| 1085767 |
| 4.25%, 12/07/27<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 451<br>| 581788 |
| 4.25%, 06/07/32<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 583<br>| 750100 |
| 4.25%, 07/31/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 507<br>| 643749 |
| 4.25%, 03/07/36<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 390<br>| 491722 |
| 4.25%, 09/07/39<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 363<br>| 446680 |
| 4.25%, 12/07/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 343<br>| 418443 |
| 4.25%, 12/07/46<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 433<br>| 512046 |
| 4.25%, 12/07/49<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 283<br>| 332510 |
| 4.25%, 12/07/55<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 341<br>| 397310 |
| 4.38%, 01/31/40<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 170<br>| 211249 |
| 4.38%, 07/31/54<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 737<br>| 875440 |
| 4.50%, 06/07/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 840<br>| 1088554 |
| 4.50%, 09/07/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 334<br>| 433261 |
| 4.50%, 12/07/42<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 312<br>| 388530 |
| 4.63%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 720<br>| 942238 |
| 4.75%, 12/07/30<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 543<br>| 719191 |
| 4.75%, 12/07/38<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 342<br>| 446416 |
| 4.75%, 10/22/43<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 559<br>| 713667 |
| 6.00%, 12/07/28<sup>(a)</sup> | &nbsp;&nbsp; GBP<br> 532<br>| 732292 |
|  |  | 29673390 |
| **Total Long-Term Investments — 99.0%** <br>**(Cost: $569,667,255)** | **Total Long-Term Investments — 99.0%** <br>**(Cost: $569,667,255)** | 510628814 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.0%** | **Money Market Funds — 0.0%** | **Money Market Funds — 0.0%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 150000 | $150000 |
| **Total Short-Term Securities — 0.0%** <br>**(Cost: $150,000)** | **Total Short-Term Securities — 0.0%** <br>**(Cost: $150,000)** | 150000 |
| **Total Investments — 99.0%** <br>**(Cost: $569,817,255)** | **Total Investments — 99.0%** <br>**(Cost: $569,817,255)** | 510778814 |
| **Other Assets Less Liabilities — 1.0%** | **Other Assets Less Liabilities — 1.0%** | 5068227 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $515847041 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $230000 | $—<br> $(80000 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $150000 | 150000 | $12696 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Foreign Government Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $510628814 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $510628814 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® International Treasury Bond ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $150000 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $150000 |
|  | &nbsp;&nbsp; $150000 | &nbsp;&nbsp; $510628814 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $510778814 |

---

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>1-3 Year <br> International <br> Treasury <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>International <br> Treasury <br> Bond ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)</sup> | $67584769 | $510628814 |
| Investments, at value—affiliated<sup>(b)</sup> |  | 150000 |
| Cash | 5001 | 4663 |
| Foreign currency, at value<sup>(c)</sup> | 365489 | 1439138 |
| Receivables: |  |  |
| Investments sold | 9392263 | 30086940 |
| Capital shares sold |  | 1174493 |
| Dividends—affiliated | 5 | 378 |
| Interest—unaffiliated | 364300 | 4270929 |
| Total assets | 77711827 | 547755355 |
| **LIABILITIES** |  |  |
| Payables: |  |  |
| Investments purchased | 9607815 | 31759141 |
| Investment advisory fees | 20371 | 149173 |
| Total liabilities | 9628186 | 31908314 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $68083641 | $515847041 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $76215699 | $669179342 |
| Accumulated loss | (8132058) | (153332301) |
| NET ASSETS | $68083641 | $515847041 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 950000 | 12850000 |
| Net asset value | $71.67 | $40.14 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $67283121 | $569667255 |
| <sup>(b)</sup> Investments, at cost—affiliated | $— | $150000 |
| <sup>(c)</sup> Foreign currency, at cost | $371413 | $1443755 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>1-3 Year <br> International <br> Treasury <br> Bond ETF <br>| &nbsp;&nbsp; iShares <br>International <br> Treasury <br> Bond ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $639 | &nbsp;&nbsp;&nbsp; $12696 |
| Interest—unaffiliated | &nbsp;&nbsp; 2154010 | &nbsp;&nbsp;&nbsp; 12537018 |
| Foreign taxes withheld | &nbsp;&nbsp; (162)<br>| &nbsp;&nbsp;&nbsp; — |
| Total investment income | &nbsp;&nbsp; 2154487 | &nbsp;&nbsp;&nbsp; 12549714 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 271498 | &nbsp;&nbsp;&nbsp; 2066440 |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 272 |
| Total expenses | &nbsp;&nbsp; 271498 | &nbsp;&nbsp;&nbsp; 2066712 |
| Net investment income | &nbsp;&nbsp; 1882989 | &nbsp;&nbsp;&nbsp; 10483002 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (443860)<br>| &nbsp;&nbsp;&nbsp; (18385203)<br>|
| Foreign currency transactions | &nbsp;&nbsp; 71064 | &nbsp;&nbsp;&nbsp; 160396 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 583032 | &nbsp;&nbsp;&nbsp; (40402747)<br>|
|  | &nbsp;&nbsp; 210236 | &nbsp;&nbsp;&nbsp; (58627554)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 3057784 | &nbsp;&nbsp;&nbsp; 132343332 |
| Foreign currency translations | &nbsp;&nbsp; (18442)<br>| &nbsp;&nbsp;&nbsp; 109521 |
|  | &nbsp;&nbsp; 3039342 | &nbsp;&nbsp;&nbsp; 132452853 |
| Net realized and unrealized gain | &nbsp;&nbsp; 3249578 | &nbsp;&nbsp;&nbsp; 73825299 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $5132567 | &nbsp;&nbsp;&nbsp; $84308301 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>1-3 Year International Treasury Bond ETF  | iShares <br>1-3 Year International Treasury Bond ETF  | iShares <br>International Treasury Bond ETF  | iShares <br>International Treasury Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $1882989 | &nbsp;&nbsp;&nbsp; $863648 | &nbsp;&nbsp;&nbsp; $10483002 | &nbsp;&nbsp;&nbsp; $14791617 |
| Net realized gain (loss) | &nbsp;&nbsp; 210236 | &nbsp;&nbsp;&nbsp; (5312807)<br>| &nbsp;&nbsp;&nbsp; (58627554)<br>| &nbsp;&nbsp;&nbsp; (140882402)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 3039342 | &nbsp;&nbsp;&nbsp; 5977952 | &nbsp;&nbsp;&nbsp; 132452853 | &nbsp;&nbsp;&nbsp; 111541699 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 5132567 | &nbsp;&nbsp;&nbsp; 1528793 | &nbsp;&nbsp;&nbsp; 84308301 | &nbsp;&nbsp;&nbsp; (14549086)<br>|
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| From net investment income | &nbsp;&nbsp; (143999)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1281032)<br>|
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (143999)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1281032)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (11057043)<br>| &nbsp;&nbsp;&nbsp; 17579973 | &nbsp;&nbsp;&nbsp; (633240475)<br>| &nbsp;&nbsp;&nbsp; 164251437 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (6068475)<br>| &nbsp;&nbsp;&nbsp; 19108766 | &nbsp;&nbsp;&nbsp; (548932174)<br>| &nbsp;&nbsp;&nbsp; 148421319 |
| Beginning of year | &nbsp;&nbsp; 74152116 | &nbsp;&nbsp;&nbsp; 55043350 | &nbsp;&nbsp;&nbsp; 1064779215 | &nbsp;&nbsp;&nbsp; 916357896 |
| End of year | &nbsp;&nbsp; $68083641 | &nbsp;&nbsp;&nbsp; $74152116 | &nbsp;&nbsp;&nbsp; $515847041 | &nbsp;&nbsp;&nbsp; $1064779215 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares 1-3 Year International Treasury Bond ETF  | iShares 1-3 Year International Treasury Bond ETF  | iShares 1-3 Year International Treasury Bond ETF  | iShares 1-3 Year International Treasury Bond ETF  | iShares 1-3 Year International Treasury Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $67.41 | &nbsp;&nbsp;&nbsp; $64.76 | &nbsp;&nbsp;&nbsp; $80.31 | &nbsp;&nbsp;&nbsp; $81.34 | &nbsp;&nbsp;&nbsp; $78.93 |
| Net investment income (loss)<sup>(a)</sup> | 1.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp; (0.14)<br>|
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp; (14.29)<br>| &nbsp;&nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.55 |
| Net increase (decrease) from investment operations | 4.39 | &nbsp;&nbsp;&nbsp;&nbsp;2.65 | &nbsp;&nbsp;&nbsp; (14.54)<br>| &nbsp;&nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.41 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1.01)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| **Net asset value, end of year** | &nbsp;&nbsp; $71.67 | &nbsp;&nbsp;&nbsp; $67.41 | &nbsp;&nbsp;&nbsp; $64.76 | &nbsp;&nbsp;&nbsp; $80.31 | &nbsp;&nbsp;&nbsp; $81.34 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 6.52<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.09<br> %<br>| &nbsp;&nbsp;&nbsp; (18.32)%<br>| &nbsp;&nbsp;&nbsp; (1.27)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.05<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| Total expenses after fees waived | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.17<br> %<br>|
| Net investment income (loss) | 2.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28<br> %<br>| &nbsp;&nbsp;&nbsp; (0.35)%<br>| &nbsp;&nbsp;&nbsp; (0.59)%<br>| &nbsp;&nbsp;&nbsp; (0.18)%<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $68084 | &nbsp;&nbsp;&nbsp; $74152 | &nbsp;&nbsp;&nbsp; $55043 | &nbsp;&nbsp;&nbsp; $76292 | &nbsp;&nbsp;&nbsp; $56937 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 77<br> %<br>| &nbsp;&nbsp;&nbsp; 89<br> %<br>| &nbsp;&nbsp;&nbsp; 69<br> %<br>| &nbsp;&nbsp;&nbsp; 60<br> %<br>| &nbsp;&nbsp;&nbsp; 71<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares International Treasury Bond ETF  | iShares International Treasury Bond ETF  | iShares International Treasury Bond ETF  | iShares International Treasury Bond ETF  | iShares International Treasury Bond ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $36.78 | &nbsp;&nbsp;&nbsp; $36.88 | &nbsp;&nbsp;&nbsp; $51.00 | &nbsp;&nbsp;&nbsp; $52.95 | &nbsp;&nbsp;&nbsp; $50.76 |
| Net investment income<sup>(a)</sup> | 0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 2.66 | &nbsp;&nbsp;&nbsp; (0.56)<br>| &nbsp;&nbsp;&nbsp; (14.03)<br>| &nbsp;&nbsp;&nbsp; (2.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.10 |
| Net increase (decrease) from investment operations | 3.36 | &nbsp;&nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp;&nbsp; (13.92)<br>| &nbsp;&nbsp;&nbsp; (1.95)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.31 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.12)<br>|
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.12)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $40.14 | &nbsp;&nbsp;&nbsp; $36.78 | &nbsp;&nbsp;&nbsp; $36.88 | &nbsp;&nbsp;&nbsp; $51.00 | &nbsp;&nbsp;&nbsp; $52.95 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 9.14<br> %<br>| &nbsp;&nbsp;&nbsp; (0.14)%<br>| &nbsp;&nbsp;&nbsp; (27.42)%<br>| &nbsp;&nbsp;&nbsp; (3.68)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.57<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| Net investment income | 1.78<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.14<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.41<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $515847 | &nbsp;&nbsp;&nbsp; $1064779 | &nbsp;&nbsp;&nbsp; $916358 | &nbsp;&nbsp;&nbsp; $1183210 | &nbsp;&nbsp;&nbsp; $1082929 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp;&nbsp; 51<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 21<br> %<br>| &nbsp;&nbsp;&nbsp; 41<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> 1-3 Year International Treasury Bond Non-diversified <br> International Treasury Bond Non-diversified

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of October 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income, net realized capital gains and/or return of capital for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

The portion of distributions that exceeds each Fund's current and accumulated earnings and profits will constitute a non-taxable return of capital. Distributions in excess of each Fund's minimum distribution requirements, but not in excess of the Fund's earnings and profits, will be taxable to the Fund's shareholders and will not constitute

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

non-taxable returns of capital. Return of capital distributions will reduce a shareholder's cost basis and will result in higher capital gains or lower capital losses when each Fund's shares on which distributions were received are sold. Once a shareholder's cost basis is reduced to zero, further distributions will be treated as capital gains.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***4. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BlackRock Fund Advisors ("BFA") manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock, Inc. ("BlackRock"). Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| 1-3 Year International Treasury Bond | 0.35% |
| International Treasury Bond | 0.35 |

---

**Sub-Adviser:** BFA has entered into a sub-advisory agreement with BlackRock International Limited (the "Sub-Adviser"), an affiliate of BFA, under which BFA pays the Sub-Adviser for services it provides to the Funds.

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 08, 2024 (date of conversion for iShares International Treasury Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

Prior to January 26, 2024 (date of conversion for iShares 1-3 Year International Treasury Bond ETF), ETF Services were performed by State Street Bank and Trust Company.

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***5. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $62848905 | &nbsp;&nbsp;&nbsp; $58457078 |
| International Treasury Bond | &nbsp;&nbsp; 162162542 | &nbsp;&nbsp;&nbsp; 176140234 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $14406692 |
| International Treasury Bond | &nbsp;&nbsp; 161054328 | &nbsp;&nbsp;&nbsp; 767048194 |

---

***6. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $573662 | &nbsp;&nbsp;&nbsp; $(573662) |
| International Treasury Bond | &nbsp;&nbsp; (49779279) | &nbsp;&nbsp;&nbsp; 49779279 |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| 1-3 Year International Treasury Bond |  |  |
| Ordinary income | &nbsp;&nbsp; $143999 | &nbsp;&nbsp;&nbsp; $— |
| International Treasury Bond |  |  |
| Return of capital | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1281032 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $1457671 | &nbsp;&nbsp;&nbsp; $(9834720) | &nbsp;&nbsp;&nbsp; $244991 | &nbsp;&nbsp;&nbsp; $(8132058) |
| International Treasury Bond | &nbsp;&nbsp; 907070 | &nbsp;&nbsp;&nbsp; (88492244) | &nbsp;&nbsp;&nbsp; (65747127) | &nbsp;&nbsp;&nbsp; (153332301) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and amortization methods for premiums and discounts on fixed income securities. 

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $67311224 | &nbsp;&nbsp;&nbsp; $864129 | &nbsp;&nbsp;&nbsp; $(590584) | &nbsp;&nbsp;&nbsp; $273545 |
| International Treasury Bond | &nbsp;&nbsp; 576492930 | &nbsp;&nbsp;&nbsp; 3742980 | &nbsp;&nbsp;&nbsp; (69457096) | &nbsp;&nbsp;&nbsp; (65714116) |

---

***7. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***8. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| 1-3 Year International Treasury Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp; $3531217 | &nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; $17579973 |
| Shares redeemed | &nbsp;&nbsp; (200000)<br>| &nbsp;&nbsp;&nbsp; (14588260)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (150000)<br>| &nbsp;&nbsp;&nbsp; $(11057043)<br>| &nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; $17579973 |
| International Treasury Bond |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp;&nbsp; $203890324 | &nbsp;&nbsp;&nbsp; 15400000 | &nbsp;&nbsp;&nbsp; $602839883 |
| Shares redeemed | &nbsp;&nbsp; (21200000)<br>| &nbsp;&nbsp;&nbsp; (837130799)<br>| &nbsp;&nbsp;&nbsp; (11300000)<br>| &nbsp;&nbsp;&nbsp; (438588446)<br>|
|  | &nbsp;&nbsp; (16100000)<br>| &nbsp;&nbsp;&nbsp; $(633240475)<br>| &nbsp;&nbsp;&nbsp; 4100000 | &nbsp;&nbsp;&nbsp; $164251437 |

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***9. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements and Additional Information

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the two funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (two of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations for the year ended October 31, 2024, the statements of changes in net assets for each of the two years in the period ended October 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2024 and each of the financial highlights for each of the five years in the period ended October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

iShares 1-3 Year International Treasury Bond ETF <br> iShares International Treasury Bond ETF

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>|
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $2152804 |
| International Treasury Bond | &nbsp;&nbsp; 12497947 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $90 |
| International Treasury Bond | &nbsp;&nbsp; 227 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $1601670 |
| International Treasury Bond | &nbsp;&nbsp; 907070 |

---

The Funds hereby designate the following amount(s), or maximum amount(s) allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| 1-3 Year International Treasury Bond | &nbsp;&nbsp; $554 |
| International Treasury Bond | &nbsp;&nbsp; 7228 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares 1-3 Year International Treasury Bond ETF, iShares International Treasury Bond ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement"), and the Sub-Advisory Agreement between BFA and BlackRock International Limited, (together the "Advisory Agreements"), on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreements. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreements for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreements for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA and BlackRock International Limited; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreements are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds. The Board further noted that BFA pays BlackRock International Limited for sub-advisory services, and that there are no additional fees imposed on the Fund in respect of the services provided under the Sub-Advisory Agreement(s).

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA and BlackRock International Limited under the Advisory Agreements for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, including those of the Sub-Advisor(s), as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding investment performance, investment and risk management processes and strategies for BFA and BlackRock International Limited, which were provided at the May 6, 2024 meeting and throughout the year and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreements supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreements and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreements for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including the actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreements for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreements for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| ILS | Israeli Shekel |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |

---

2024 iShares Annual Financial Statements and Additional Information

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by FTSE Fixed Income LLC, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

![](g938995imgd0efe6f12.gif)

![](g938995img4d5e90413.gif)

------

October 31, 2024

![](g938995img37897aec1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares 20+ Year Treasury Bond BuyWrite Strategy ETF \| TLTW \| Cboe BZX Exchange |
| • iShares High Yield Corporate Bond BuyWrite Strategy ETF \| HYGW \| Cboe BZX Exchange |
| • iShares Investment Grade Corporate Bond BuyWrite Strategy ETF \| LQDW \| Cboe BZX Exchange |
| • iShares Russell 2000 BuyWrite ETF \| IWMW \| Cboe BZX Exchange |
| • iShares S&P 500 BuyWrite ETF \| IVVW \| Cboe BZX Exchange |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_253f680e-393f-47f7-807d-8ab05f414517_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_253f680e-393f-47f7-807d-8ab05f414517_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 13 |
| [Statements of Operations](#xx_253f680e-393f-47f7-807d-8ab05f414517_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 15 |
| [Statements of Changes in Net Assets](#xx_253f680e-393f-47f7-807d-8ab05f414517_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 17 |
| [Financial Highlights](#xx_253f680e-393f-47f7-807d-8ab05f414517_FS-Footer-iSharesReport_8)  | &nbsp;&nbsp; 20 |
| [Notes to Financial Statements](#xx_253f680e-393f-47f7-807d-8ab05f414517_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 25 |
| [Report of Independent Registered Public Accounting Firm](#xx_253f680e-393f-47f7-807d-8ab05f414517_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 32 |
| [Important Tax Information](#xx_253f680e-393f-47f7-807d-8ab05f414517_Tax-annual-Footer-iSharesReport-1241_1)  | &nbsp;&nbsp; 33 |
| [Additional Information](#xx_253f680e-393f-47f7-807d-8ab05f414517_SAI-Footer-iSharesReport-1241_1)  | &nbsp;&nbsp; 34 |
| [Board Review and Approval of Investment Advisory Contract](#xx_253f680e-393f-47f7-807d-8ab05f414517_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 35 |
| [Glossary of Terms Used in this Report](#xx_253f680e-393f-47f7-807d-8ab05f414517_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 38 |
| [Additional Financial Information](#xx_253f680e-393f-47f7-807d-8ab05f414517_AFIED-AdditionalFinancialInfoExternalDocument_1)  | &nbsp;&nbsp; 39 |

---

------

Schedule of Investments

October 31, 2024

**iShares® 20+ Year Treasury Bond BuyWrite Strategy ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 99.1%** | **Exchange-Traded Funds — 99.1%** | **Exchange-Traded Funds — 99.1%** |
| iShares 20+ Year Treasury Bond ETF<sup>(a)(b)</sup> | &nbsp;&nbsp; 11867570 | $1097156847 |
| **Total Investment Companies** <br>**(Cost: $1,155,081,802)** | **Total Investment Companies** <br>**(Cost: $1,155,081,802)** | 1097156847 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.3%** | **Money Market Funds — 1.3%** | **Money Market Funds — 1.3%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br>4.83%<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 14700000 | 14700000 |
| **Total Short-Term Securities — 1.3%** <br>**(Cost: $14,700,000)** | **Total Short-Term Securities — 1.3%** <br>**(Cost: $14,700,000)** | 14700000 |
| **Total Investments Before Options Written — 100.4%** <br>**(Cost: $1,169,781,802)** | **Total Investments Before Options Written — 100.4%** <br>**(Cost: $1,169,781,802)** | 1111856847 |
| **Options Written — (0.4)%** <br>**(Premiums Received: $(7508315))** | **Options Written — (0.4)%** <br>**(Premiums Received: $(7508315))** | (4316459)<br>|
| **Total Investments, Net of Options Written — 100.0%** <br>**(Cost: $1,162,273,487)** | **Total Investments, Net of Options Written — 100.0%** <br>**(Cost: $1,162,273,487)** | 1107540388 |
| **Liabilities in Excess of Other Assets — 0.0%** | **Liabilities in Excess of Other Assets — 0.0%** | (104345)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1107436043 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> All or a portion of this security was pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, <br> SL Agency Shares<br>| $9740000 | $4960000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $14700000 | 14700000 | $362531 | $— |
| iShares 20+ Year Treasury Bond <br> ETF<br>| 644567288 | 694345671 | &nbsp;&nbsp; (302734257)<br>| (10418790)<br>| 71396935 | 1097156847 | 11867570 | 35428315 |  |
|  |  |  |  | $(10418790)<br>| $71396935 | $1111856847 |  | $35790846 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Exercise* <br>*Price* | *Exercise* <br>*Price* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp; 118675 | &nbsp;&nbsp; 11/15/24 | &nbsp;&nbsp; USD | 97.00 | USD | 1097150 | &nbsp;&nbsp; $(4316459)<br>|

---

**Balances Reported in the Statements of Assets and Liabilities for Options Written** 

---

| | | | |
|:---|:---|:---|:---|
| *Description* | *Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Unrealized* <br>*Depreciation*<br>| *Value* |
| Options Written | &nbsp;&nbsp; $3191856 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(4316459)<br>|

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® 20+ Year Treasury Bond BuyWrite Strategy ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Options written |  |  |  |  |  |  |  |
| Options written at value | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4316459 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4316459 |

---

For the period ended October 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(42447206)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(42447206)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $896895 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $896895 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Options: |  |
| Average value of option contracts written | &nbsp;&nbsp; $5950506 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $1097156847 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1097156847 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 14700000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 14700000 |
|  | &nbsp;&nbsp; $1111856847 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1111856847 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4316459)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4316459)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are options written. Options written are shown at value.

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® High Yield Corporate Bond BuyWrite Strategy ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 99.0%** | **Exchange-Traded Funds — 99.0%** | **Exchange-Traded Funds — 99.0%** |
| iShares iBoxx $ High Yield Corporate Bond ETF<sup>(a)(b)</sup> | &nbsp;&nbsp; 2346738 | $185720845 |
| **Total Investment Companies** <br>**(Cost: $183,303,587)** | **Total Investment Companies** <br>**(Cost: $183,303,587)** | 185720845 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.9%** | **Money Market Funds — 0.9%** | **Money Market Funds — 0.9%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br>4.83%<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1660000 | 1660000 |
| **Total Short-Term Securities — 0.9%** <br>**(Cost: $1,660,000)** | **Total Short-Term Securities — 0.9%** <br>**(Cost: $1,660,000)** | 1660000 |
| **Total Investments Before Options Written — 99.9%** <br>**(Cost: $184,963,587)** | **Total Investments Before Options Written — 99.9%** <br>**(Cost: $184,963,587)** | 187380845 |
| **Options Written — (0.1)%** <br>**(Premiums Received: $(190467))** | **Options Written — (0.1)%** <br>**(Premiums Received: $(190467))** | (98306)<br>|
| **Total Investments, Net of Options Written — 99.8%** <br>**(Cost: $184,773,120)** | **Total Investments, Net of Options Written — 99.8%** <br>**(Cost: $184,773,120)** | 187282539 |
| **Other Assets Less Liabilities — 0.2%** | **Other Assets Less Liabilities — 0.2%** | 307031 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $187589570 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> All or a portion of this security was pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| $430000 | $1230000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $1660000 | 1660000 | $22409 | $— |
| iShares iBoxx $ High Yield Corporate Bond <br> ETF<br>| 43792221 | 157102911 | &nbsp;&nbsp; (19305505)<br>| 492155 | 3639063 | 185720845 | 2346738 | 3579302 |  |
|  |  |  |  | $492155 | $3639063 | $187380845 |  | $3601711 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Exercise* <br>*Price* | *Exercise* <br>*Price* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp; 23467 | &nbsp;&nbsp; 11/15/24 | &nbsp;&nbsp; USD | 80.00 | USD | 185718 | &nbsp;&nbsp; $(98306)<br>|

---

**Balances Reported in the Statements of Assets and Liabilities for Options Written** 

---

| | | | |
|:---|:---|:---|:---|
| *Description* | *Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Unrealized* <br>*Depreciation*<br>| *Value* |
| Options Written | &nbsp;&nbsp; $92161 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(98306)<br>|

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® High Yield Corporate Bond BuyWrite Strategy ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Options written |  |  |  |  |  |  |  |
| Options written at value | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $98306 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $98306 |

---

For the period ended October 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3217865)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3217865)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $191212 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $191212 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Options: |  |
| Average value of option contracts written | &nbsp;&nbsp; $288496 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $185720845 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $185720845 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1660000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1660000 |
|  | &nbsp;&nbsp; $187380845 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $187380845 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(98306)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(98306)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are options written. Options written are shown at value.

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Investment Grade Corporate Bond BuyWrite Strategy ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 99.4%** | **Exchange-Traded Funds — 99.4%** | **Exchange-Traded Funds — 99.4%** |
| iShares iBoxx $ Investment Grade Corporate <br> Bond ETF<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1934868 | $210881263 |
| **Total Investment Companies** <br>**(Cost: $207,428,591)** | **Total Investment Companies** <br>**(Cost: $207,428,591)** | 210881263 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br>4.83%<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1570000 | 1570000 |
| **Total Short-Term Securities — 0.7%** <br>**(Cost: $1,570,000)** | **Total Short-Term Securities — 0.7%** <br>**(Cost: $1,570,000)** | 1570000 |
| **Total Investments Before Options Written — 100.1%** <br>**(Cost: $208,998,591)** | **Total Investments Before Options Written — 100.1%** <br>**(Cost: $208,998,591)** | 212451263 |
| **Options Written — (0.1)%** <br>**(Premiums Received: $(1040348))** | **Options Written — (0.1)%** <br>**(Premiums Received: $(1040348))** | (316454)<br>|
| **Total Investments, Net of Options Written — 100.0%** <br>**(Cost: $207,958,243)** | **Total Investments, Net of Options Written — 100.0%** <br>**(Cost: $207,958,243)** | 212134809 |
| **Liabilities in Excess of Other Assets — 0.0%** | **Liabilities in Excess of Other Assets — 0.0%** | (27478)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $212107331 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> All or a portion of this security was pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| $2130000 | $— | $(560000 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $1570000 | 1570000 | $84859 | $— |
| iShares iBoxx $ Investment Grade Corpo-<br> rate Bond ETF<br>| 172966166 | 80602860 | (58883876)<br>| &nbsp;&nbsp; 1237756 | 14958357 | 210881263 | 1934868 | 7802453 |  |
|  |  |  |  | &nbsp;&nbsp; $1237756 | $14958357 | $212451263 |  | $7887312 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Exercise* <br>*Price* | *Exercise* <br>*Price* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | &nbsp;&nbsp; 19348 | &nbsp;&nbsp; 11/15/24 | &nbsp;&nbsp; USD | 112.00 | USD | 210874 | &nbsp;&nbsp; $(316454)<br>|

---

**Balances Reported in the Statements of Assets and Liabilities for Options Written** 

---

| | | | |
|:---|:---|:---|:---|
| *Description* | *Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Unrealized* <br>*Depreciation*<br>| *Value* |
| Options Written | &nbsp;&nbsp; $723894 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(316454)<br>|

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Investment Grade Corporate Bond BuyWrite Strategy ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Options written |  |  |  |  |  |  |  |
| Options written at value | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $316454 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $316454 |

---

For the period ended October 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(15754179)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(15754179)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $547295 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $547295 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Options: |  |
| Average value of option contracts written | &nbsp;&nbsp; $1330264 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $210881263 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $210881263 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1570000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1570000 |
|  | &nbsp;&nbsp; $212451263 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $212451263 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(316454)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(316454)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are options written. Options written are shown at value.

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® Russell 2000 BuyWrite ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 99.5%** | **Exchange-Traded Funds — 99.5%** | **Exchange-Traded Funds — 99.5%** |
| iShares Russell 2000 ETF<sup>(a)(b)</sup> | &nbsp;&nbsp; 86675 | $18874348 |
| **Total Investment Companies** <br>**(Cost: $17,868,505)** | **Total Investment Companies** <br>**(Cost: $17,868,505)** | 18874348 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br>4.83%<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 200000 | 200000 |
| **Total Short-Term Securities — 1.0%** <br>**(Cost: $200,000)** | **Total Short-Term Securities — 1.0%** <br>**(Cost: $200,000)** | 200000 |
| **Total Investments Before Options Written — 100.5%** <br>**(Cost: $18,068,505)** | **Total Investments Before Options Written — 100.5%** <br>**(Cost: $18,068,505)** | 19074348 |
| **Options Written — (0.5)%** <br>**(Premiums Received: $(354820))** | **Options Written — (0.5)%** <br>**(Premiums Received: $(354820))** | (97750)<br>|
| **Total Investments, Net of Options Written — 100.0%** <br>**(Cost: $17,713,685)** | **Total Investments, Net of Options Written — 100.0%** <br>**(Cost: $17,713,685)** | 18976598 |
| **Liabilities in Excess of Other Assets — 0.0%** | **Liabilities in Excess of Other Assets — 0.0%** | (679)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $18975919 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> All or a portion of this security was pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*03/14/24*<sup>(a)</sup> <br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| $— | &nbsp;&nbsp; $200000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $200000 | 200000 | $5367 | $— |
| iShares Russell 2000 ETF |  | &nbsp;&nbsp; 21853317 | &nbsp;&nbsp; (4248484)<br>| 263672 | 1005843 | 18874348 | 86675 | 144340 |  |
|  |  |  |  | $263672 | $1005843 | $19074348 |  | $149707 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Exercise* <br>*Price* | *Exercise* <br>*Price* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| Russell 2000 Index | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 11/15/24 | &nbsp;&nbsp; USD | 2330.00 | USD | 18672 | &nbsp;&nbsp; $(97750)<br>|

---

**Balances Reported in the Statements of Assets and Liabilities for Options Written** 

---

| | | | |
|:---|:---|:---|:---|
| *Description* | *Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Unrealized* <br>*Depreciation*<br>| *Value* |
| Options Written | &nbsp;&nbsp; $257070 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(97750)<br>|

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® Russell 2000 BuyWrite ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Options written |  |  |  |  |  |  |  |
| Options written at value | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $97750 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $97750 |

---

For the period ended October 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1302845)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1302845)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $257070 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $257070 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Options: |  |
| Average value of option contracts written | &nbsp;&nbsp; $219980 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $18874348 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $18874348 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 200000 |
|  | &nbsp;&nbsp; $19074348 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $19074348 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $(97750)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(97750)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are options written. Options written are shown at value.

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® S&P 500 BuyWrite ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 99.5%** | **Exchange-Traded Funds — 99.5%** | **Exchange-Traded Funds — 99.5%** |
| iShares Core S&P 500 ETF<sup>(a)(b)</sup> | &nbsp;&nbsp; 45968 | $26258760 |
| **Total Investment Companies** <br>**(Cost: $24,560,936)** | **Total Investment Companies** <br>**(Cost: $24,560,936)** | 26258760 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.8%** | **Money Market Funds — 0.8%** | **Money Market Funds — 0.8%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br>4.83%<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 210000 | 210000 |
| **Total Short-Term Securities — 0.8%** <br>**(Cost: $210,000)** | **Total Short-Term Securities — 0.8%** <br>**(Cost: $210,000)** | 210000 |
| **Total Investments Before Options Written — 100.3%** <br>**(Cost: $24,770,936)** | **Total Investments Before Options Written — 100.3%** <br>**(Cost: $24,770,936)** | 26468760 |
| **Options Written — (0.4)%** <br>**(Premiums Received: $(333197))** | **Options Written — (0.4)%** <br>**(Premiums Received: $(333197))** | (92000)<br>|
| **Total Investments, Net of Options Written — 99.9%** <br>**(Cost: $24,437,739)** | **Total Investments, Net of Options Written — 99.9%** <br>**(Cost: $24,437,739)** | 26376760 |
| **Other Assets Less Liabilities — 0.1%** | **Other Assets Less Liabilities — 0.1%** | 23737 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $26400497 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> All or a portion of this security was pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*03/14/24*<sup>(a)</sup> <br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| $— | &nbsp;&nbsp; $210000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $210000 | 210000 | $4316 | $— |
| iShares Core S&P 500 ETF |  | &nbsp;&nbsp; 27948848 | &nbsp;&nbsp; (3607296)<br>| 219384 | 1697824 | 26258760 | 45968 | 191292 |  |
|  |  |  |  | $219384 | $1697824 | $26468760 |  | $195608 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Exercise* <br>*Price* | *Exercise* <br>*Price* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 11/15/24 | &nbsp;&nbsp; USD | 5900.00 | USD | 26245 | &nbsp;&nbsp; $(92000)<br>|

---

**Balances Reported in the Statements of Assets and Liabilities for Options Written** 

---

| | | | |
|:---|:---|:---|:---|
| *Description* | *Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Unrealized* <br>*Depreciation*<br>| *Value* |
| Options Written | &nbsp;&nbsp; $241197 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(92000)<br>|

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® S&P 500 BuyWrite ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Options written |  |  |  |  |  |  |  |
| Options written at value | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $92000 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $92000 |

---

For the period ended October 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(889430)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(889430)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Options written | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $241197 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $241197 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Options: |  |
| Average value of option contracts written | &nbsp;&nbsp; $107227 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $26258760 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $26258760 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 210000 |
|  | &nbsp;&nbsp; $26468760 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $26468760 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $(92000)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(92000)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are options written. Options written are shown at value.

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>20+ Year Treasury <br> Bond BuyWrite <br> Strategy ETF <br>| &nbsp;&nbsp; iShares <br>High Yield <br> Corporate <br> Bond <br> BuyWrite <br> Strategy ETF <br>| &nbsp;&nbsp; iShares <br>Investment <br> Grade <br> Corporate <br> Bond <br> BuyWrite <br> Strategy ETF <br>| &nbsp;&nbsp; iShares <br>Russell 2000 <br> BuyWrite <br> ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—affiliated<sup>(a)</sup> | $1111856847 | $187380845 | $212451263 | $19074348 |
| Cash | 40657 | 4261 | 3943 | 1977 |
| Receivables: |  |  |  |  |
| Options written |  | 10095 |  |  |
| Capital shares sold |  | 303767 |  | 95 |
| Dividends—affiliated | 45407 | 2172 | 4584 | 367 |
| Total assets | 1111942911 | 187701140 | 212459790 | 19076787 |
| **LIABILITIES** |  |  |  |  |
| Options written, at value<sup>(b)</sup> | 4316459 | 98306 | 316454 | 97750 |
| Payables: |  |  |  |  |
| Investment advisory fees | 190409 | 13264 | 36005 | 3118 |
| Total liabilities | 4506868 | 111570 | 352459 | 100868 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $1107436043 | $187589570 | $212107331 | $18975919 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $1207651692 | $188134384 | $222818822 | $18975919 |
| Accumulated loss | (100215649) | (544814) | (10711491) |  |
| NET ASSETS | $1107436043 | $187589570 | $212107331 | $18975919 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 43550000 | 5800000 | 7750000 | 420000 |
| Net asset value | $25.43 | $32.34 | $27.37 | $45.18 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—affiliated | $1169781802 | $184963587 | $208998591 | $18068505 |
| <sup>(b)</sup> Premiums received | $7508315 | $190467 | $1040348 | $354820 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities (continued)

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; iShares <br>S&P 500 <br> BuyWrite <br> ETF <br>|
| **ASSETS** |  |
| Investments, at value—affiliated<sup>(a)</sup> | $26468760 |
| Cash | 17492 |
| Receivables: |  |
| Options written | 4096 |
| Capital shares sold | 5640 |
| Dividends—affiliated | 864 |
| Total assets | 26496852 |
| **LIABILITIES** |  |
| Options written, at value<sup>(b)</sup> | 92000 |
| Payables: |  |
| Investment advisory fees | 4355 |
| Total liabilities | 96355 |
| **Commitments and contingent liabilities** |  |
| NET ASSETS | $26400497 |
| **NET ASSETS CONSIST OF** |  |
| Paid-in capital | $26400497 |
| NET ASSETS | $26400497 |
| **NET ASSET VALUE** |  |
| Shares outstanding | 540000 |
| Net asset value | $48.89 |
| Shares authorized | Unlimited |
| Par value |  |
| <sup>(a)</sup> Investments, at cost—affiliated | $24770936 |
| <sup>(b)</sup> Premiums received | $333197 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>20+ Year <br> Treasury <br> Bond <br> BuyWrite <br> Strategy ETF <br>| &nbsp;&nbsp; iShares <br>High Yield <br> Corporate <br> Bond <br> BuyWrite <br> Strategy ETF <br>| &nbsp;&nbsp; iShares <br>Investment <br> Grade <br> Corporate <br> Bond <br> BuyWrite <br> Strategy ETF <br>| &nbsp;&nbsp; iShares <br>Russell 2000 <br> BuyWrite <br> ETF<sup>(a)</sup> <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $35790846 | &nbsp;&nbsp;&nbsp; $3601711 | &nbsp;&nbsp;&nbsp; $7887312 | &nbsp;&nbsp;&nbsp; $149707 |
| Interest—unaffiliated | &nbsp;&nbsp; 17747 | &nbsp;&nbsp;&nbsp; 917 | &nbsp;&nbsp;&nbsp; 3054 | &nbsp;&nbsp;&nbsp; 273 |
| Total investment income | &nbsp;&nbsp; 35808593 | &nbsp;&nbsp;&nbsp; 3602628 | &nbsp;&nbsp;&nbsp; 7890366 | &nbsp;&nbsp;&nbsp; 149980 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 1839621 | &nbsp;&nbsp;&nbsp; 119925 | &nbsp;&nbsp;&nbsp; 355152 | &nbsp;&nbsp;&nbsp; 21022 |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 468 |
| Total expenses | &nbsp;&nbsp; 1839621 | &nbsp;&nbsp;&nbsp; 119925 | &nbsp;&nbsp;&nbsp; 355152 | &nbsp;&nbsp;&nbsp; 21490 |
| Net investment income | &nbsp;&nbsp; 33968972 | &nbsp;&nbsp;&nbsp; 3482703 | &nbsp;&nbsp;&nbsp; 7535214 | &nbsp;&nbsp;&nbsp; 128490 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—affiliated | &nbsp;&nbsp; (2982462)<br>| &nbsp;&nbsp;&nbsp; 205127 | &nbsp;&nbsp;&nbsp; 965780 | &nbsp;&nbsp;&nbsp; 198552 |
| In-kind redemptions—affiliated<sup>(b)</sup> | &nbsp;&nbsp; (7436328)<br>| &nbsp;&nbsp;&nbsp; 287028 | &nbsp;&nbsp;&nbsp; 271976 | &nbsp;&nbsp;&nbsp; 65120 |
| Options written | &nbsp;&nbsp; (42447206)<br>| &nbsp;&nbsp;&nbsp; (3217865)<br>| &nbsp;&nbsp;&nbsp; (15754179)<br>| &nbsp;&nbsp;&nbsp; (1302845)<br>|
| Payments by affiliate | &nbsp;&nbsp; 2407 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (52863589)<br>| &nbsp;&nbsp;&nbsp; (2725710)<br>| &nbsp;&nbsp;&nbsp; (14516423)<br>| &nbsp;&nbsp;&nbsp; (1039173)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—affiliated | &nbsp;&nbsp; 71396935 | &nbsp;&nbsp;&nbsp; 3639063 | &nbsp;&nbsp;&nbsp; 14958357 | &nbsp;&nbsp;&nbsp; 1005843 |
| Options written | &nbsp;&nbsp; 896895 | &nbsp;&nbsp;&nbsp; 191212 | &nbsp;&nbsp;&nbsp; 547295 | &nbsp;&nbsp;&nbsp; 257070 |
|  | &nbsp;&nbsp; 72293830 | &nbsp;&nbsp;&nbsp; 3830275 | &nbsp;&nbsp;&nbsp; 15505652 | &nbsp;&nbsp;&nbsp; 1262913 |
| Net realized and unrealized gain | &nbsp;&nbsp; 19430241 | &nbsp;&nbsp;&nbsp; 1104565 | &nbsp;&nbsp;&nbsp; 989229 | &nbsp;&nbsp;&nbsp; 223740 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $53399213 | &nbsp;&nbsp;&nbsp; $4587268 | &nbsp;&nbsp;&nbsp; $8524443 | &nbsp;&nbsp;&nbsp; $352230 |
| <sup>(a)</sup> For the period from March 14, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from March 14, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from March 14, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from March 14, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from March 14, 2024 (commencement of operations) to October 31, 2024. |
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Operations (continued)

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>S&P 500 <br> BuyWrite <br> ETF<sup>(a)</sup> <br>|
| **INVESTMENT INCOME** |  |
| Dividends—affiliated | &nbsp;&nbsp; $195608 |
| Interest—unaffiliated | &nbsp;&nbsp; 394 |
| Total investment income | &nbsp;&nbsp; 196002 |
| EXPENSES |  |
| Investment advisory | &nbsp;&nbsp; 27096 |
| Interest expense | &nbsp;&nbsp; 232 |
| Total expenses | &nbsp;&nbsp; 27328 |
| Net investment income | &nbsp;&nbsp; 168674 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| Net realized gain (loss) from: |  |
| Investments—affiliated | &nbsp;&nbsp; 168631 |
| In-kind redemptions—affiliated<sup>(b)</sup> | &nbsp;&nbsp; 50753 |
| Options written | &nbsp;&nbsp; (889430)<br>|
|  | &nbsp;&nbsp; (670046)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments—affiliated | &nbsp;&nbsp; 1697824 |
| Options written | &nbsp;&nbsp; 241197 |
|  | &nbsp;&nbsp; 1939021 |
| Net realized and unrealized gain | &nbsp;&nbsp; 1268975 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $1437649 |
| <sup>(a)</sup> For the period from March 14, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from March 14, 2024 (commencement of operations) to October 31, 2024. |
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>20+ Year Treasury Bond BuyWrite Strategy <br> ETF  | iShares <br>20+ Year Treasury Bond BuyWrite Strategy <br> ETF  | iShares <br>High Yield Corporate Bond BuyWrite <br> Strategy ETF  | iShares <br>High Yield Corporate Bond BuyWrite <br> Strategy ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $33968972 | &nbsp;&nbsp;&nbsp; $8255190 | &nbsp;&nbsp;&nbsp; $3482703 | &nbsp;&nbsp;&nbsp; $1347244 |
| Net realized gain (loss) | &nbsp;&nbsp; (52863589)<br>| &nbsp;&nbsp;&nbsp; 18870545 | &nbsp;&nbsp;&nbsp; (2725710)<br>| &nbsp;&nbsp;&nbsp; 270195 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 72293830 | &nbsp;&nbsp;&nbsp; (124756219)<br>| &nbsp;&nbsp;&nbsp; 3830275 | &nbsp;&nbsp;&nbsp; (1079038)<br>|
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 53399213 | &nbsp;&nbsp;&nbsp; (97630484)<br>| &nbsp;&nbsp;&nbsp; 4587268 | &nbsp;&nbsp;&nbsp; 538401 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| From net investment income | &nbsp;&nbsp; (33968972)<br>| &nbsp;&nbsp;&nbsp; (30491033)<br>| &nbsp;&nbsp;&nbsp; (3768212)<br>| &nbsp;&nbsp;&nbsp; (1673896)<br>|
| Return of capital | &nbsp;&nbsp; (97217006)<br>| &nbsp;&nbsp;&nbsp; (3125516)<br>| &nbsp;&nbsp;&nbsp; (3743252)<br>| &nbsp;&nbsp;&nbsp; (1968599)<br>|
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (131185978)<br>| &nbsp;&nbsp;&nbsp; (33616549)<br>| &nbsp;&nbsp;&nbsp; (7511464)<br>| &nbsp;&nbsp;&nbsp; (3642495)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 536078708 | &nbsp;&nbsp;&nbsp; 758525298 | &nbsp;&nbsp;&nbsp; 146708081 | &nbsp;&nbsp;&nbsp; 37540110 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 458291943 | &nbsp;&nbsp;&nbsp; 627278265 | &nbsp;&nbsp;&nbsp; 143783885 | &nbsp;&nbsp;&nbsp; 34436016 |
| Beginning of year | &nbsp;&nbsp; 649144100 | &nbsp;&nbsp;&nbsp; 21865835 | &nbsp;&nbsp;&nbsp; 43805685 | &nbsp;&nbsp;&nbsp; 9369669 |
| End of year | &nbsp;&nbsp; $1107436043 | &nbsp;&nbsp;&nbsp; $649144100 | &nbsp;&nbsp;&nbsp; $187589570 | &nbsp;&nbsp;&nbsp; $43805685 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares <br>Investment Grade Corporate Bond <br> BuyWrite Strategy ETF  | iShares <br>Investment Grade Corporate Bond <br> BuyWrite Strategy ETF  | iShares <br>Russell 2000 <br> BuyWrite ETF <br>|
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Period From <br>03/14/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |
| **OPERATIONS** |  |  |  |
| Net investment income | &nbsp;&nbsp; $7535214 | &nbsp;&nbsp;&nbsp; $2814827 | &nbsp;&nbsp;&nbsp; $128490 |
| Net realized gain (loss) | &nbsp;&nbsp; (14516423)<br>| &nbsp;&nbsp;&nbsp; 3487719 | &nbsp;&nbsp;&nbsp; (1039173)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 15505652 | &nbsp;&nbsp;&nbsp; (10582245)<br>| &nbsp;&nbsp;&nbsp; 1262913 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 8524443 | &nbsp;&nbsp;&nbsp; (4279699)<br>| &nbsp;&nbsp;&nbsp; 352230 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |  |  |
| From net investment income and net realized gain | &nbsp;&nbsp; (7807190)<br>| &nbsp;&nbsp;&nbsp; (6385924)<br>| &nbsp;&nbsp;&nbsp; (352230)<br>|
| Return of capital | &nbsp;&nbsp; (20438751)<br>| &nbsp;&nbsp;&nbsp; (4835754)<br>| &nbsp;&nbsp;&nbsp; (1422839)<br>|
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (28245941)<br>| &nbsp;&nbsp;&nbsp; (11221678)<br>| &nbsp;&nbsp;&nbsp; (1775069)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 58351324 | &nbsp;&nbsp;&nbsp; 176420291 | &nbsp;&nbsp;&nbsp; 20398758 |
| *NET ASSETS* |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 38629826 | &nbsp;&nbsp;&nbsp; 160918914 | &nbsp;&nbsp;&nbsp; 18975919 |
| Beginning of period | &nbsp;&nbsp; 173477505 | &nbsp;&nbsp;&nbsp; 12558591 | &nbsp;&nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $212107331 | &nbsp;&nbsp;&nbsp; $173477505 | &nbsp;&nbsp;&nbsp; $18975919 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>S&P 500 <br> BuyWrite ETF <br>|
|  | Period From <br>03/14/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |
| **OPERATIONS** |  |
| Net investment income | &nbsp;&nbsp; $168674 |
| Net realized loss | &nbsp;&nbsp; (670046)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 1939021 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 1437649 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |
| From net investment income and net realized gain | &nbsp;&nbsp; (1437649)<br>|
| Return of capital | &nbsp;&nbsp; (402832)<br>|
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (1840481)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 26803329 |
| *NET ASSETS* |  |
| Total increase in net assets | &nbsp;&nbsp; 26400497 |
| Beginning of period | &nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $26400497 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF  | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF  | iShares 20+ Year Treasury Bond BuyWrite Strategy ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Period From <br>08/18/22<sup>(a)</sup> <br>to 10/31/22<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $27.13 | &nbsp;&nbsp;&nbsp; $33.64 | &nbsp;&nbsp;&nbsp; $40.06 |
| Net investment income<sup>(b)</sup> | 0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.27 | &nbsp;&nbsp;&nbsp; (2.17)<br>| &nbsp;&nbsp;&nbsp; (5.35)<br>|
| Net increase (decrease) from investment operations | 2.25 | &nbsp;&nbsp;&nbsp; (1.23)<br>| &nbsp;&nbsp;&nbsp; (5.22)<br>|
| **Distributions**<sup>(d)</sup> <br>|  |  |  |
| From net investment income | &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp;&nbsp; (4.79)<br>| &nbsp;&nbsp;&nbsp; (1.12)<br>|
| Return of capital | &nbsp;&nbsp; (2.93)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp; (0.08)<br>|
| Total distributions | &nbsp;&nbsp; (3.95)<br>| &nbsp;&nbsp;&nbsp; (5.28)<br>| &nbsp;&nbsp;&nbsp; (1.20)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.43 | &nbsp;&nbsp;&nbsp; $27.13 | &nbsp;&nbsp;&nbsp; $33.64 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |
| Based on net asset value | 8.56 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp; (5.39)%<br>| &nbsp;&nbsp;&nbsp; (13.29 )%<sup>(g)</sup><br>|
| **Ratios to Average Net Assets**<sup>(h)</sup> <br>|  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35 %<sup>(i)</sup><br>|
| Total expenses after fees waived | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20 %<sup>(i)</sup><br>|
| Net investment income | 3.69<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.81 %<sup>(i)</sup><br>|
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $1107436 | &nbsp;&nbsp;&nbsp; $649144 | &nbsp;&nbsp;&nbsp; $21866 |
| Portfolio turnover rate<sup>(j)</sup> | &nbsp;&nbsp; 0<br> %<br>| &nbsp;&nbsp;&nbsp; 1<br> %<br>| &nbsp;&nbsp;&nbsp; 0<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(g)</sup> Not annualized. | <sup>(g)</sup> Not annualized. | <sup>(g)</sup> Not annualized. | <sup>(g)</sup> Not annualized. |
| <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(i)</sup> Annualized. | <sup>(i)</sup> Annualized. | <sup>(i)</sup> Annualized. | <sup>(i)</sup> Annualized. |
| <sup>(j)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(j)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(j)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(j)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares High Yield Corporate Bond BuyWrite Strategy ETF  | iShares High Yield Corporate Bond BuyWrite Strategy ETF  | iShares High Yield Corporate Bond BuyWrite Strategy ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Period From <br>08/18/22<sup>(a)</sup> <br>to 10/31/22<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $33.70 | &nbsp;&nbsp;&nbsp; $37.48 | &nbsp;&nbsp;&nbsp; $40.06 |
| Net investment income<sup>(b)</sup> | 1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp; (1.54)<br>|
| Net increase (decrease) from investment operations | 2.93 | &nbsp;&nbsp;&nbsp;&nbsp;2.16 | &nbsp;&nbsp;&nbsp; (1.21)<br>|
| **Distributions**<sup>(d)</sup> <br>|  |  |  |
| From net investment income | &nbsp;&nbsp; (2.15)<br>| &nbsp;&nbsp;&nbsp; (2.73)<br>| &nbsp;&nbsp;&nbsp; (1.30)<br>|
| Return of capital | &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp;&nbsp; (3.21)<br>| &nbsp;&nbsp;&nbsp; (0.07)<br>|
| Total distributions | &nbsp;&nbsp; (4.29)<br>| &nbsp;&nbsp;&nbsp; (5.94)<br>| &nbsp;&nbsp;&nbsp; (1.37)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $32.34 | &nbsp;&nbsp;&nbsp; $33.70 | &nbsp;&nbsp;&nbsp; $37.48 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |
| Based on net asset value | 9.21<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.96<br> %<br>| &nbsp;&nbsp;&nbsp; (3.02 )%<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20 %<sup>(h)</sup><br>|
| Net investment income | 5.81<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.25 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $187590 | &nbsp;&nbsp;&nbsp; $43806 | &nbsp;&nbsp;&nbsp; $9370 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 0 %<sup>(j)</sup><br>| &nbsp;&nbsp;&nbsp; 1<br> %<br>| &nbsp;&nbsp;&nbsp; 0<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |
| <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares Investment Grade Corporate Bond BuyWrite Strategy ETF  | iShares Investment Grade Corporate Bond BuyWrite Strategy ETF  | iShares Investment Grade Corporate Bond BuyWrite Strategy ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Period From <br>08/18/22<sup>(a)</sup> <br>to 10/31/22<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $30.43 | &nbsp;&nbsp;&nbsp; $35.88 | &nbsp;&nbsp;&nbsp; $40.10 |
| Net investment income<sup>(b)</sup> | 1.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.17 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 0.39 | &nbsp;&nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp;&nbsp; (3.40)<br>|
| Net increase (decrease) from investment operations | 1.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp; (3.23)<br>|
| **Distributions**<sup>(d)</sup> <br>|  |  |  |
| From net investment income | &nbsp;&nbsp; (1.29)<br>| &nbsp;&nbsp;&nbsp; (3.49)<br>| &nbsp;&nbsp;&nbsp; (0.86)<br>|
| Return of capital | &nbsp;&nbsp; (3.38)<br>| &nbsp;&nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp;&nbsp; (0.13)<br>|
| Total distributions | &nbsp;&nbsp; (4.67)<br>| &nbsp;&nbsp;&nbsp; (6.14)<br>| &nbsp;&nbsp;&nbsp; (0.99)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $27.37 | &nbsp;&nbsp;&nbsp; $30.43 | &nbsp;&nbsp;&nbsp; $35.88 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |
| Based on net asset value | 5.55<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.56<br> %<br>| &nbsp;&nbsp;&nbsp; (8.14 )%<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20 %<sup>(h)</sup><br>|
| Net investment income | 4.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.73<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.32 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $212107 | &nbsp;&nbsp;&nbsp; $173478 | &nbsp;&nbsp;&nbsp; $12559 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 0<br> %<br>| &nbsp;&nbsp;&nbsp; 0 %<sup>(j)</sup><br>| &nbsp;&nbsp;&nbsp; 0 %<sup>(j)</sup><br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amount reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amount reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amount reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amount reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |
| <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> Russell <br> 2000<br> BuyWrite <br> ETF <br>|
|  | Period <br> From <br>03/14/24<sup>(a)</sup> <br>to <br> 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $49.10 |
| Net investment income<sup>(b)</sup> | 0.36 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.63 |
| Net increase from investment operations | 0.99 |
| **Distributions** |  |
| From net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.35)<br>|
| From net realized gain | &nbsp;&nbsp; (0.62)<br>|
| Return of capital | &nbsp;&nbsp; (3.94)<br>|
| Total distributions | &nbsp;&nbsp; (4.91)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $45.18 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 2.26 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.20 %<sup>(h)</sup><br>|
| Net investment income | 1.22 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $18976 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 3<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> S&P 500 <br> BuyWrite <br> ETF <br>|
|  | Period <br> From <br>03/14/24<sup>(a)</sup> <br>to <br> 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $49.89 |
| Net investment income<sup>(b)</sup> | 0.43 |
| Net realized and unrealized gain<sup>(c)</sup> | 3.22 |
| Net increase from investment operations | 3.65 |
| **Distributions** |  |
| From net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.43)<br>|
| From net realized gain | &nbsp;&nbsp; (3.20)<br>|
| Return of capital | &nbsp;&nbsp; (1.02)<br>|
| Total distributions | &nbsp;&nbsp; (4.65)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $48.89 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 7.66 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.22 %<sup>(h)</sup><br>|
| Net investment income | 1.37 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $26400 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 1<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

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| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; Diversified |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; Diversified |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; Diversified |
| Russell 2000 BuyWrite<sup>(a)</sup> | &nbsp;&nbsp; Diversified |
| S&P 500 BuyWrite<sup>(a)</sup> | &nbsp;&nbsp; Diversified |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on March 14, 2024.

Currently each Fund seeks to achieve its investment objective by investing a substantial portion of its assets in an iShares fund (an "underlying fund"). The financial statements, including the accounting policies, and schedules of investments for the underlying funds are available on **iShares.com** and should be read in conjunction with the Funds' financial statements.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions from the underlying funds, if any, are recorded on the ex-dividend date. Interest income is recognized daily on an accrual basis.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income, net realized capital gains and/or return of capital for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

The portion of distributions that exceeds each Fund's current and accumulated earnings and profits will constitute a non-taxable return of capital. Distributions in excess of each Fund's minimum distribution requirements, but not in excess of the Fund's earnings and profits, will be taxable to the Fund's shareholders and will not constitute non-taxable returns of capital. Return of capital distributions will reduce a shareholder's cost basis and will result in higher capital gains or lower capital losses when each Fund's shares on which distributions were received are sold. Once a shareholder's cost basis is reduced to zero, further distributions will be treated as capital gains.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair

2024 iShares Annual Financial Statements and Additional Information

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*Notes to Financial Statements* (continued)

values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exchange-traded funds and closed-end funds traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the fund is primarily traded. Funds traded on a recognized exchange for which there were no sales on that day may be valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exchange-traded options are valued at the mean between the last bid and ask prices at the close of the options market in which the options trade. An exchange-traded option for which there is no mean price is valued at the last bid (long positions) or ask (short positions) price. If no bid or ask price is available, the prior day's price will be used, unless it is determined that the prior day's price no longer reflects the fair value of the option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Flexible Exchange Options ("FLEX Options") are valued by an independent pricing service using a mathematical model, such as Black-Scholes model, which incorporates a number of market data factors, such as trades and prices of the underlying instruments.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

***4. DERIVATIVE FINANCIAL INSTRUMENTS***

**Options:** The Funds write European-style call options on its respective underlying fund to generate gains from options premiums.

A European-style call option gives the purchaser (holder) of the option the right (but not the obligation) to buy, and obligates the seller (writer) to sell (when the option is exercised) the underlying instrument at the exercise or strike price on the expiration date. The Funds do not expect to physically settle outstanding option positions as they will generally purchase offsetting call options as necessary to close out the open call positions.

Premiums received on options written, as well as the daily fluctuation in market value, are included in options written at value in the Statements of Assets and Liabilities. When a written option expires without being exercised, a realized gain or loss is recorded in the Statements of Operations to the extent of the premiums received. When a written option is closed or sold, a gain or loss is recorded in the Statements of Operations to the extent the cost of the closing transaction exceeds or does not exceed the premiums received. Written call options will typically be "covered," meaning that they hold the underlying instrument subject to be called by the option counterparty. The

Notes to Financial Statements

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*Notes to Financial Statements* (continued)

Funds will seek to write call options up to (but not exceeding) the full amounts of shares of the underlying funds held in the Funds (i.e., the short positions in the call options are offset or "covered," by the long positions the Funds hold in shares of the underlying funds).

In purchasing and writing options, the Funds bears the risk of an unfavorable change in the value of the underlying instrument or the risk that they may not be able to enter into a closing transaction due to an illiquid market.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BlackRock Fund Advisors ("BFA") manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock, Inc. ("BlackRock"). Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

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| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| 20+ Year Treasury Bond BuyWrite Strategy | 0.20% |
| High Yield Corporate Bond BuyWrite Strategy | 0.20 |
| Investment Grade Corporate Bond BuyWrite Strategy | 0.20 |
| Russell 2000 BuyWrite | 0.20 |
| S&P 500 BuyWrite | 0.22 |

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**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** During the year ended October 31, 2024, iShares 20+ Year Treasury Bond BuyWrite Strategy ETF received reimbursements of $2,407 from an affiliate, which is included in payments by affiliates in the Statements of Operations, related to an operating event.

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $149492076 |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 147445 | &nbsp;&nbsp;&nbsp; 7863491 |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 36765001 |
| Russell 2000 BuyWrite | &nbsp;&nbsp; 429084 | &nbsp;&nbsp;&nbsp; 3292341 |
| S&P 500 BuyWrite | &nbsp;&nbsp; 194720 | &nbsp;&nbsp;&nbsp; 2611337 |

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For the year ended October 31, 2024, in-kind transactions were as follows:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $694345670 | &nbsp;&nbsp;&nbsp; $153242181 |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 156955466 | &nbsp;&nbsp;&nbsp; 11442015 |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 80602860 | &nbsp;&nbsp;&nbsp; 22118875 |
| Russell 2000 BuyWrite | &nbsp;&nbsp; 21424233 | &nbsp;&nbsp;&nbsp; 956144 |
| S&P 500 BuyWrite | &nbsp;&nbsp; 27754128 | &nbsp;&nbsp;&nbsp; 995959 |

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***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

2024 iShares Annual Financial Statements and Additional Information

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*Notes to Financial Statements* (continued)

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to distributions paid in excess of taxable income and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $(7436328) | &nbsp;&nbsp;&nbsp; $7436328 |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| 20+ Year Treasury Bond BuyWrite Strategy |  |  |
| Ordinary income | &nbsp;&nbsp; $33968972 | &nbsp;&nbsp;&nbsp; $30491033 |
| Return of capital | &nbsp;&nbsp; 97217006 | &nbsp;&nbsp;&nbsp; 3125516 |
|  | &nbsp;&nbsp; $131185978 | &nbsp;&nbsp;&nbsp; $33616549 |
| High Yield Corporate Bond BuyWrite Strategy |  |  |
| Ordinary income | &nbsp;&nbsp; $3768212 | &nbsp;&nbsp;&nbsp; $1673896 |
| Return of capital | &nbsp;&nbsp; 3743252 | &nbsp;&nbsp;&nbsp; 1968599 |
|  | &nbsp;&nbsp; $7511464 | &nbsp;&nbsp;&nbsp; $3642495 |
| Investment Grade Corporate Bond BuyWrite Strategy |  |  |
| Ordinary income | &nbsp;&nbsp; $7807190 | &nbsp;&nbsp;&nbsp; $6385924 |
| Return of capital | &nbsp;&nbsp; 20438751 | &nbsp;&nbsp;&nbsp; 4835754 |
|  | &nbsp;&nbsp; $28245941 | &nbsp;&nbsp;&nbsp; $11221678 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| *iShares ETF* | *Period Ended* <br>*10/31/24*<br>|
| Russell 2000 BuyWrite |  |
| Ordinary income | &nbsp;&nbsp; $240360 |
| Long-term capital gains | &nbsp;&nbsp; 111870 |
| Return of capital | &nbsp;&nbsp; 1422839 |
|  | &nbsp;&nbsp; $1775069 |
| S&P 500 BuyWrite |  |
| Ordinary income | &nbsp;&nbsp; $1208972 |
| Long-term capital gains | &nbsp;&nbsp; 228677 |
| Return of capital | &nbsp;&nbsp; 402832 |
|  | &nbsp;&nbsp; $1840481 |

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As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

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| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $(37739398) | &nbsp;&nbsp;&nbsp; $(62476251) | &nbsp;&nbsp;&nbsp; $(100215649) |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; (344799) | &nbsp;&nbsp;&nbsp; (200015) | &nbsp;&nbsp;&nbsp; (544814) |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; (10131130) | &nbsp;&nbsp;&nbsp; (580361) | &nbsp;&nbsp;&nbsp; (10711491) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and the treatment of straddles.

Notes to Financial Statements

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*Notes to Financial Statements* (continued)

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $1169782092 | &nbsp;&nbsp;&nbsp; $3191856 | &nbsp;&nbsp;&nbsp; $(57925245) | &nbsp;&nbsp;&nbsp; $(54733389) |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 184963587 | &nbsp;&nbsp;&nbsp; 2509419 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2509419 |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 209001285 | &nbsp;&nbsp;&nbsp; 4173872 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4173872 |
| Russell 2000 BuyWrite | &nbsp;&nbsp; 19331418 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| S&P 500 BuyWrite | &nbsp;&nbsp; 26709957 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |

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***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

2024 iShares Annual Financial Statements and Additional Information

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*Notes to Financial Statements* (continued)

**Covered Call Option Risk:** By writing covered call options in return for the receipt of premiums, the Funds will give up the opportunity to benefit from potential increases in the value of the underlying funds above the exercise prices of the written options but will continue to bear the risk of declines in the value of the underlying funds. The premiums received from the options may not be sufficient to offset any losses sustained from the volatility of the underlying funds. In addition, the Funds' ability to sell shares of the underlying funds will be limited while the options are in effect unless the Funds extinguish the option positions through the purchase of offsetting identical options prior to the expiration of the written options.

The covered call strategy may be subject to imperfect matching or price correlation between the written options and the underlying funds, which could reduce the Funds' returns. Exchanges may suspend the trading of options. As a result, the Funds may be unable to write or purchase options at times that may be advantageous to the Funds. If the Funds are unable to extinguish the option positions before exercise, the Funds may be required to deliver the corresponding shares of the underlying funds, resulting in increased transaction costs, tracking error, underinvestment, and potentially the realization of capital gains. Further, the Funds use options which are struck once per month, and the timing of changes in the price of the underlying funds may affect the Funds' performance.

The Funds will be affected by the movements in interest rates and the resulting share price of the underlying funds. In a falling interest rate environment, the underlying funds are generally expected to appreciate in price and the Funds may underperform the underlying funds as price appreciation for the Funds is limited to the exercise prices of the options written by the Funds.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| 20+ Year Treasury Bond BuyWrite Strategy |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 25525000 | &nbsp;&nbsp;&nbsp; $689209076 | &nbsp;&nbsp;&nbsp; 25125000 | &nbsp;&nbsp;&nbsp; $816625073 |
| Shares redeemed | &nbsp;&nbsp; (5900000)<br>| &nbsp;&nbsp;&nbsp; (153130368)<br>| &nbsp;&nbsp;&nbsp; (1850000)<br>| &nbsp;&nbsp;&nbsp; (58099775)<br>|
|  | &nbsp;&nbsp; 19625000 | &nbsp;&nbsp;&nbsp; $536078708 | &nbsp;&nbsp;&nbsp; 23275000 | &nbsp;&nbsp;&nbsp; $758525298 |
| High Yield Corporate Bond BuyWrite Strategy |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 4850000 | &nbsp;&nbsp;&nbsp; $158139456 | &nbsp;&nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; $41169969 |
| Shares redeemed | &nbsp;&nbsp; (350000)<br>| &nbsp;&nbsp;&nbsp; (11431375)<br>| &nbsp;&nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp;&nbsp; (3629859)<br>|
|  | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp; $146708081 | &nbsp;&nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp; $37540110 |
| Investment Grade Corporate Bond BuyWrite Strategy |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp; $80234131 | &nbsp;&nbsp;&nbsp; 5600000 | &nbsp;&nbsp;&nbsp; $185142535 |
| Shares redeemed | &nbsp;&nbsp; (750000)<br>| &nbsp;&nbsp;&nbsp; (21882807)<br>| &nbsp;&nbsp;&nbsp; (250000)<br>| &nbsp;&nbsp;&nbsp; (8722244)<br>|
|  | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;&nbsp; $58351324 | &nbsp;&nbsp;&nbsp; 5350000 | &nbsp;&nbsp;&nbsp; $176420291 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
|  | Period Ended <br>10/31/24<sup>(a)</sup>  | Period Ended <br>10/31/24<sup>(a)</sup>  |
| *iShares ETF* | *Shares* | *Amount* |
| Russell 2000 BuyWrite |  |  |
| Shares sold | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp; $21317454 |
| Shares redeemed | &nbsp;&nbsp; (20000)<br>| &nbsp;&nbsp;&nbsp; (918696)<br>|
|  | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp; $20398758 |
| S&P 500 BuyWrite |  |  |
| Shares sold | &nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp; $27799226 |
| Shares redeemed | &nbsp;&nbsp; (20000)<br>| &nbsp;&nbsp;&nbsp; (995897)<br>|
|  | &nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp; $26803329 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on March 14, 2024.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements and Additional Information

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the five funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (five of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares 20+ Year Treasury Bond BuyWrite Strategy ETF<sup>(1)</sup> <br>|
| iShares High Yield Corporate Bond BuyWrite Strategy ETF<sup>(1)</sup> <br>|
| iShares Investment Grade Corporate Bond BuyWrite Strategy ETF<sup>(1)</sup> <br>|
| iShares Russell 2000 BuyWrite ETF<sup>(2)</sup> <br>|
| iShares S&P 500 BuyWrite ETF<sup>(2)</sup> <br>|

---

<sup>(1)</sup> Statement of operations for the year ended October 31, 2024 and statement of changes in net assets for each of the two years in the period ended October 31, 2024

<sup>(2)</sup> Statement of operations and statement of changes in net assets for the period March 14, 2024 (commencement of operations) through October 31, 2024

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as capital gain dividends, subject to a long-term capital gains tax rate as noted below, for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *20% Rate Long-Term* <br>*Capital Gain Dividends*<br>|
| Russell 2000 BuyWrite | &nbsp;&nbsp; $111870 |
| S&P 500 BuyWrite | &nbsp;&nbsp; 228677 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $33968972 |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 5077 |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 27909 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $33968972 |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 3424979 |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 7535214 |

---

The Funds hereby designate the following amount(s), or maximum amount(s) allowable by law, as interest-related dividends and qualified short-term capital gains eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Qualified Short-Term* <br>*Capital Gains*<br>|
| 20+ Year Treasury Bond BuyWrite Strategy | &nbsp;&nbsp; $33951492 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| High Yield Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 2838816 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Investment Grade Corporate Bond BuyWrite Strategy | &nbsp;&nbsp; 6432097 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Russell 2000 BuyWrite | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 111870 |
| S&P 500 BuyWrite | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1040298 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares 20+ Year Treasury Bond BuyWrite Strategy ETF, iShares High Yield Corporate Bond BuyWrite Strategy ETF, iShares Investment Grade Corporate Bond BuyWrite Strategy ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

2024 iShares Annual Financial Statements and Additional Information

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| USD | United States Dollar |

---

Glossary of Terms Used in this Report

------

Additional Financial Information

Schedules of Investments (Unaudited)

October 31, 2024

Statements of Assets and Liabilities (Unaudited)

October 31, 2024

---

| |
|:---|
| **iShares Trust** |
| iShares iBoxx $ High Yield Corporate Bond ETF \| HYG \| NYSE Arca |
| iShares iBoxx $ Investment Grade Corporate Bond ETF \| LQD \| NYSE Arca |

---

------

Schedule of Investments (unaudited)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 1.2%** | **Advertising — 1.2%** | **Advertising — 1.2%** |
| Clear Channel Outdoor Holdings Inc. |  |  |
| 5.13%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; $16164 | &nbsp;&nbsp; $15660815 |
| 7.50%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14539 | &nbsp;&nbsp; 12427210 |
| 7.75%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13446 | &nbsp;&nbsp; 11971422 |
| 7.88%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11258 | &nbsp;&nbsp; 11483160 |
| 9.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10227 | &nbsp;&nbsp; 10706391 |
| CMG Media Corp., 8.88%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 14056 | &nbsp;&nbsp; 10263088 |
| Lamar Media Corp. |  |  |
| 3.63%, 01/15/31 | &nbsp;&nbsp; 7497 | &nbsp;&nbsp; 6693415 |
| 3.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 8767 | &nbsp;&nbsp; 8315719 |
| 4.00%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 7345 | &nbsp;&nbsp; 6787871 |
| 4.88%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 4847 | &nbsp;&nbsp; 4707406 |
| Neptune Bidco U.S. Inc., 9.29%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 36042 | &nbsp;&nbsp; 33635115 |
| Outfront Media Capital LLC/Outfront Media <br> Capital Corp.<br>|  |  |
| 4.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7705 | &nbsp;&nbsp; 7217659 |
| 4.63%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7665 | &nbsp;&nbsp; 7122462 |
| 5.00%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7658 | &nbsp;&nbsp; 7528333 |
| 7.38%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5876 | &nbsp;&nbsp; 6184398 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15015 | &nbsp;&nbsp; 14283019 |
|  |  | &nbsp;&nbsp; 174987483 |
| **Aerospace & Defense — 2.2%** | **Aerospace & Defense — 2.2%** | **Aerospace & Defense — 2.2%** |
| Bombardier Inc. |  |  |
| 6.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9293 | &nbsp;&nbsp; 9284543 |
| 7.00%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 11117 | &nbsp;&nbsp; 11398482 |
| 7.13%, 06/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 820 | &nbsp;&nbsp; 828982 |
| 7.25%, 07/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12163 | &nbsp;&nbsp; 12558298 |
| 7.50%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9976 | &nbsp;&nbsp; 10397421 |
| 7.88%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 18275 | &nbsp;&nbsp; 18308635 |
| 8.75%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9825 | &nbsp;&nbsp; 10660125 |
| Spirit AeroSystems Inc. |  |  |
| 4.60%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 9755 | &nbsp;&nbsp; 9303441 |
| 9.38%, 11/30/29<sup>(a)</sup> | &nbsp;&nbsp; 12772 | &nbsp;&nbsp; 13779392 |
| 9.75%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 17158 | &nbsp;&nbsp; 19062538 |
| TransDigm Inc. |  |  |
| 4.63%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 16075 | &nbsp;&nbsp; 15254170 |
| 4.88%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 10269 | &nbsp;&nbsp; 9799399 |
| 5.50%, 11/15/27 | &nbsp;&nbsp; 34208 | &nbsp;&nbsp; 33870538 |
| 6.00%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 10601 | &nbsp;&nbsp; 10508241 |
| 6.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 35877 | &nbsp;&nbsp; 36433452 |
| 6.63%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp; 31111 | &nbsp;&nbsp; 31664154 |
| 6.75%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 28679 | &nbsp;&nbsp; 29324277 |
| 6.88%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 19393 | &nbsp;&nbsp; 19877825 |
| 7.13%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 12248 | &nbsp;&nbsp; 12661370 |
| Triumph Group Inc., 9.00%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 11458 |
|  |  | &nbsp;&nbsp; 314986741 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| Darling Ingredients Inc. |  |  |
| 5.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5788 | &nbsp;&nbsp; 5730120 |
| 6.00%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13054 | &nbsp;&nbsp; 12956095 |
| Vector Group Ltd., 10.50%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 10466 | &nbsp;&nbsp; 10459197 |
|  |  | &nbsp;&nbsp; 29145412 |
| **Airlines — 1.5%** | **Airlines — 1.5%** | **Airlines — 1.5%** |
| Air Canada, 3.88%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 16472 | &nbsp;&nbsp; 15950002 |
| American Airlines Inc. |  |  |
| 7.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11458 | &nbsp;&nbsp; 11626528 |
| 8.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13187 | &nbsp;&nbsp; 13833254 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| American Airlines Inc./AAdvantage Loyalty <br> IP Ltd.<br>|  |  |
| 5.50%, 04/20/26<sup>(a)</sup> | &nbsp;&nbsp; $22526 | &nbsp;&nbsp; $22480972 |
| 5.75%, 04/20/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 40633 | &nbsp;&nbsp; 40265306 |
| Delta Air Lines Inc. |  |  |
| 3.75%, 10/28/29<sup>(b)</sup> | &nbsp;&nbsp; 758 | &nbsp;&nbsp; 706369 |
| 4.38%, 04/19/28<sup>(b)</sup> | &nbsp;&nbsp; 39 | &nbsp;&nbsp; 38117 |
| 7.38%, 01/15/26<sup>(b)</sup> | &nbsp;&nbsp; 126 | &nbsp;&nbsp; 128992 |
| JetBlue Airways Corp./JetBlue Loyalty LP, <br> 9.88%, 09/20/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 27213 | &nbsp;&nbsp; 28348294 |
| United Airlines Inc. |  |  |
| 4.38%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 26444 | &nbsp;&nbsp; 25990750 |
| 4.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 27084 | &nbsp;&nbsp; 25916861 |
| VistaJet Malta Finance PLC/Vista <br> Management Holding Inc.<br>|  |  |
| 6.38%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13070 | &nbsp;&nbsp; 11152964 |
| 7.88%, 05/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7255 | &nbsp;&nbsp; 7035101 |
| 9.50%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6124 | &nbsp;&nbsp; 6010706 |
|  |  | &nbsp;&nbsp; 209484216 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| Hanesbrands Inc. |  |  |
| 4.88%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 10282 | &nbsp;&nbsp; 10159850 |
| 9.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7189 | &nbsp;&nbsp; 7699778 |
| VF Corp. |  |  |
| 2.80%, 04/23/27<sup>(b)</sup> | &nbsp;&nbsp; 6468 | &nbsp;&nbsp; 6095897 |
| 2.95%, 04/23/30<sup>(b)</sup> | &nbsp;&nbsp; 7339 | &nbsp;&nbsp; 6333850 |
|  |  | &nbsp;&nbsp; 30289375 |
| **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** |
| Allison Transmission Inc. |  |  |
| 3.75%, 01/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14283 | &nbsp;&nbsp; 12640455 |
| 4.75%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5250 | &nbsp;&nbsp; 5122546 |
| 5.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6450 | &nbsp;&nbsp; 6430844 |
| Aston Martin Capital Holdings Ltd., 10.00%, <br> 03/31/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14445 | &nbsp;&nbsp; 14021280 |
| Jaguar Land Rover Automotive PLC |  |  |
| 4.50%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5894 | &nbsp;&nbsp; 5686531 |
| 5.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5808 | &nbsp;&nbsp; 5642472 |
| 5.88%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7257 | &nbsp;&nbsp; 7173754 |
| 7.75%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 6157 | &nbsp;&nbsp; 6152074 |
|  |  | &nbsp;&nbsp; 62869956 |
| **Auto Parts & Equipment — 1.6%** | **Auto Parts & Equipment — 1.6%** | **Auto Parts & Equipment — 1.6%** |
| Adient Global Holdings Ltd. |  |  |
| 4.88%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 11050 | &nbsp;&nbsp; 10870603 |
| 7.00%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6961 | &nbsp;&nbsp; 7065415 |
| 8.25%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7509 | &nbsp;&nbsp; 7763638 |
| American Axle & Manufacturing Inc. |  |  |
| 5.00%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 8720 | &nbsp;&nbsp; 7892036 |
| 6.50%, 04/01/27<sup>(b)</sup> | &nbsp;&nbsp; 6929 | &nbsp;&nbsp; 6887911 |
| 6.88%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 5189 | &nbsp;&nbsp; 5131226 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |
| 6.25%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8170 | &nbsp;&nbsp; 8187239 |
| 6.75%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9911 | &nbsp;&nbsp; 10143413 |
| 8.50%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 27891 | &nbsp;&nbsp; 27968384 |
| Dana Inc. |  |  |
| 4.25%, 09/01/30<sup>(b)</sup> | &nbsp;&nbsp; 5931 | &nbsp;&nbsp; 5138470 |
| 5.38%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 4993 | &nbsp;&nbsp; 4879466 |
| 5.63%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 5434 | &nbsp;&nbsp; 5284565 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| 4.88%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 9522 | &nbsp;&nbsp; 9188730 |
| 5.00%, 05/31/26<sup>(b)</sup> | &nbsp;&nbsp; 11439 | &nbsp;&nbsp; 11219507 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| 5.00%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; $11681 | &nbsp;&nbsp; $10569600 |
| 5.25%, 04/30/31<sup>(b)</sup> | &nbsp;&nbsp; 6981 | &nbsp;&nbsp; 6122407 |
| 5.25%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 7306 | &nbsp;&nbsp; 6420001 |
| 5.63%, 04/30/33<sup>(b)</sup> | &nbsp;&nbsp; 5927 | &nbsp;&nbsp; 5120719 |
| IHO Verwaltungs GmbH |  |  |
| 6.38%, 05/15/29, (6.38% cash)<sup>(a)(c)</sup> | &nbsp;&nbsp; 5465 | &nbsp;&nbsp; 5285519 |
| 7.75%, 11/15/30, <br> (7.75% cash and 8.50% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3875 | &nbsp;&nbsp; 3875814 |
| 8.00%, 11/15/32, <br> (8.00% cash and 8.75% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 3875 | &nbsp;&nbsp; 3891546 |
| Tenneco Inc., 8.00%, 11/17/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 24745 | &nbsp;&nbsp; 22900384 |
| ZF North America Capital Inc. |  |  |
| 6.75%, 04/23/30<sup>(a)</sup> | &nbsp;&nbsp; 10208 | &nbsp;&nbsp; 10063429 |
| 6.88%, 04/14/28<sup>(a)</sup> | &nbsp;&nbsp; 8194 | &nbsp;&nbsp; 8263075 |
| 6.88%, 04/23/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9983 | &nbsp;&nbsp; 9758382 |
| 7.13%, 04/14/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8441 | &nbsp;&nbsp; 8486462 |
|  |  | &nbsp;&nbsp; 228377941 |
| **Banks — 0.8%** | **Banks — 0.8%** | **Banks — 0.8%** |
| Freedom Mortgage Corp. |  |  |
| 6.63%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8066 | &nbsp;&nbsp; 7975257 |
| 7.63%, 05/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 8323 | &nbsp;&nbsp; 8359610 |
| 12.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11389 | &nbsp;&nbsp; 12300120 |
| 12.25%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 5517 | &nbsp;&nbsp; 6070787 |
| Intesa Sanpaolo SpA |  |  |
| 4.20%, 06/01/32, <br> (1-year CMT + 2.600%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 10045 | &nbsp;&nbsp; 8794043 |
| 5.71%, 01/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 19609 | &nbsp;&nbsp; 19649459 |
| UniCredit SpA |  |  |
| 5.46%, 06/30/35, <br> (5-year CMT + 4.750%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 20226 | &nbsp;&nbsp; 19446975 |
| 5.86%, 06/19/32, <br> (5-year USD ICE Swap + 3.703%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 12968 | &nbsp;&nbsp; 12915804 |
| 7.30%, 04/02/34, <br> (5-year USD ICE Swap + 4.914%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 17051 | &nbsp;&nbsp; 17826486 |
|  |  | &nbsp;&nbsp; 113338541 |
| **Building Materials — 1.7%** | **Building Materials — 1.7%** | **Building Materials — 1.7%** |
| Builders FirstSource Inc. |  |  |
| 4.25%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 18419 | &nbsp;&nbsp; 16450469 |
| 5.00%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7051 | &nbsp;&nbsp; 6732577 |
| 6.38%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9737 | &nbsp;&nbsp; 9769035 |
| 6.38%, 03/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 12864 | &nbsp;&nbsp; 12917064 |
| Camelot Return Merger Sub Inc., 8.75%, <br> 08/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10097 | &nbsp;&nbsp; 10113054 |
| Cornerstone Building Brands Inc., 9.50%, <br> 08/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7170 | &nbsp;&nbsp; 7369864 |
| EMRLD Borrower LP/Emerald Co-Issuer Inc. |  |  |
| 6.63%, 12/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 37357 | &nbsp;&nbsp; 37950192 |
| 6.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6372 | &nbsp;&nbsp; 6513649 |
| Miter Brands Acquisition Holdco Inc./MIWD <br> Borrower LLC, 6.75%, 04/01/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9692 | &nbsp;&nbsp; 9850134 |
| MIWD Holdco II LLC/MIWD Finance Corp., <br> 5.50%, 02/01/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6931 | &nbsp;&nbsp; 6614115 |
| Smyrna Ready Mix Concrete LLC |  |  |
| 6.00%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 14675 | &nbsp;&nbsp; 14533386 |
| 8.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 15252 | &nbsp;&nbsp; 16019176 |
| Standard Industries Inc./New York |  |  |
| 3.38%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 14637 | &nbsp;&nbsp; 12710405 |
| 4.38%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 21522 | &nbsp;&nbsp; 19783601 |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 13334 | &nbsp;&nbsp; 12858532 |
| 5.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10616 | &nbsp;&nbsp; 10390410 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| 6.50%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; $7122 | &nbsp;&nbsp; $7155153 |
| Summit Materials LLC/Summit Materials <br> Finance Corp.<br>|  |  |
| 5.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8877 | &nbsp;&nbsp; 8797545 |
| 7.25%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9622 | &nbsp;&nbsp; 9988037 |
|  |  | &nbsp;&nbsp; 236516398 |
| **Chemicals — 2.2%** | **Chemicals — 2.2%** | **Chemicals — 2.2%** |
| Asp Unifrax Hld New Money, 0.00%, <br> 12/31/49<sup>(e)</sup><br>| &nbsp;&nbsp; 18775 | &nbsp;&nbsp; 18593197 |
| ASP Unifrax Holdings Inc. |  |  |
| 7.10%, 09/30/29, <br> (5.85% cash and 1.25% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 14626 | &nbsp;&nbsp; 8629207 |
| 11.18%, 09/30/29, <br> (10.43% cash and 11.18% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 18774 | &nbsp;&nbsp; 18593197 |
| Avient Corp. |  |  |
| 6.25%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp; 8542 | &nbsp;&nbsp; 8563355 |
| 7.13%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 3696 | &nbsp;&nbsp; 3804958 |
| Axalta Coating Systems Dutch Holding B BV, <br> 7.25%, 02/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6234 | &nbsp;&nbsp; 6507423 |
| Axalta Coating Systems LLC, 3.38%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8958 | &nbsp;&nbsp; 8249422 |
| Axalta Coating Systems LLC/Axalta Coating <br> Systems Dutch Holding B BV, 4.75%, <br> 06/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 5862 | &nbsp;&nbsp; 5743713 |
| Chemours Co. (The) |  |  |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8510 | &nbsp;&nbsp; 7337747 |
| 5.38%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6784 | &nbsp;&nbsp; 6507333 |
| 5.75%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10884 | &nbsp;&nbsp; 10006024 |
| INEOS Finance PLC |  |  |
| 6.75%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5408 | &nbsp;&nbsp; 5455077 |
| 7.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11209 | &nbsp;&nbsp; 11549978 |
| Methanex Corp. |  |  |
| 5.13%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 9424 | &nbsp;&nbsp; 9173604 |
| 5.25%, 12/15/29 | &nbsp;&nbsp; 9276 | &nbsp;&nbsp; 8941733 |
| NOVA Chemicals Corp. |  |  |
| 4.25%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7118 | &nbsp;&nbsp; 6480369 |
| 5.25%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 14743 | &nbsp;&nbsp; 14474147 |
| 8.50%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4384 | &nbsp;&nbsp; 4649336 |
| 9.00%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9354 | &nbsp;&nbsp; 9956170 |
| Olin Corp. |  |  |
| 5.00%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 7920 | &nbsp;&nbsp; 7554283 |
| 5.13%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6206 | &nbsp;&nbsp; 6113531 |
| 5.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 9004 | &nbsp;&nbsp; 8880195 |
| Olympus Water U.S. Holding Corp. |  |  |
| 4.25%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9870 | &nbsp;&nbsp; 9253125 |
| 6.25%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4340 | &nbsp;&nbsp; 4133850 |
| 7.25%, 06/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10722 | &nbsp;&nbsp; 10967840 |
| 9.75%, 11/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 24721 | &nbsp;&nbsp; 26198567 |
| SCIH Salt Holdings Inc. |  |  |
| 4.88%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13736 | &nbsp;&nbsp; 13152220 |
| 6.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9746 | &nbsp;&nbsp; 9439388 |
| Tronox Inc., 4.63%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14700 | &nbsp;&nbsp; 13319964 |
| WR Grace Holdings LLC |  |  |
| 4.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10177 | &nbsp;&nbsp; 9975726 |
| 5.63%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15573 | &nbsp;&nbsp; 14405025 |
|  |  | &nbsp;&nbsp; 306609704 |
| **Commercial Services — 4.8%** | **Commercial Services — 4.8%** | **Commercial Services — 4.8%** |
| ADT Security Corp. (The), 4.13%, <br> 08/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13146 | &nbsp;&nbsp; 12285397 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Albion Financing 1 SARL/Aggreko <br> Holdings Inc., 6.13%, 10/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; $7382 | &nbsp;&nbsp; $7379557 |
| Albion Financing 2 SARL, 8.75%, <br> 04/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7022 | &nbsp;&nbsp; 7161095 |
| Allied Universal Holdco LLC, 7.88%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 31806 | &nbsp;&nbsp; 32389004 |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp.<br>|  |  |
| 6.00%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12959 | &nbsp;&nbsp; 11873684 |
| 9.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 17136 | &nbsp;&nbsp; 17164927 |
| Allied Universal Holdco LLC/Allied Universal <br> Finance Corp./Atlas Luxco 4 SARL, 4.63%, <br> 06/01/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 26011 | &nbsp;&nbsp; 24386711 |
| APX Group Inc., 5.75%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 375 | &nbsp;&nbsp; 370373 |
| Avis Budget Car Rental LLC/Avis Budget <br> Finance Inc.<br>|  |  |
| 4.75%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6061 | &nbsp;&nbsp; 5690926 |
| 5.38%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8175 | &nbsp;&nbsp; 7608399 |
| 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6311 | &nbsp;&nbsp; 6196604 |
| 8.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6952 | &nbsp;&nbsp; 7104633 |
| 8.25%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9120 | &nbsp;&nbsp; 9312706 |
| Belron U.K. Finance PLC, 5.75%, <br> 10/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7577 | &nbsp;&nbsp; 7592230 |
| Block Inc. |  |  |
| 2.75%, 06/01/26 | &nbsp;&nbsp; 11148 | &nbsp;&nbsp; 10730879 |
| 3.50%, 06/01/31<sup>(b)</sup> | &nbsp;&nbsp; 13125 | &nbsp;&nbsp; 11630587 |
| 6.50%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 27054 | &nbsp;&nbsp; 27561560 |
| Boost Newco Borrower LLC, 7.50%, <br> 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 29725 | &nbsp;&nbsp; 31278964 |
| Brink's Co. (The) |  |  |
| 4.63%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7213 | &nbsp;&nbsp; 7018429 |
| 6.50%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4997 | &nbsp;&nbsp; 5080700 |
| 6.75%, 06/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 5255 | &nbsp;&nbsp; 5350799 |
| EquipmentShare.com Inc. |  |  |
| 8.00%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6556 | &nbsp;&nbsp; 6610640 |
| 8.63%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7602 | &nbsp;&nbsp; 7833980 |
| 9.00%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 15096 | &nbsp;&nbsp; 15625266 |
| Garda World Security Corp. |  |  |
| 4.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7397 | &nbsp;&nbsp; 7199661 |
| 6.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7424 | &nbsp;&nbsp; 6950720 |
| 7.75%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5075 | &nbsp;&nbsp; 5238431 |
| 8.25%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp; 7079 | &nbsp;&nbsp; 7045233 |
| 8.38%, 11/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13420 | &nbsp;&nbsp; 13420000 |
| 9.50%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 8426 | &nbsp;&nbsp; 8434510 |
| GEO Group Inc. (The) |  |  |
| 8.63%, 04/15/29 | &nbsp;&nbsp; 9249 | &nbsp;&nbsp; 9662338 |
| 10.25%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp; 8699 | &nbsp;&nbsp; 9331243 |
| Herc Holdings Inc. |  |  |
| 5.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 14651 | &nbsp;&nbsp; 14564840 |
| 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11506 | &nbsp;&nbsp; 11764885 |
| Hertz Corp. (The) |  |  |
| 4.63%, 12/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 6762 | &nbsp;&nbsp; 5078803 |
| 5.00%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13164 | &nbsp;&nbsp; 8424960 |
| 12.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11137 | &nbsp;&nbsp; 11816580 |
| Prime Security Services Borrower LLC/Prime <br> Finance Inc.<br>|  |  |
| 3.38%, 08/31/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 13782 | &nbsp;&nbsp; 12970240 |
| 5.75%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 18241 | &nbsp;&nbsp; 18248743 |
| 6.25%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 17818 | &nbsp;&nbsp; 17799291 |
| Raven Acquisition Holdings LLC, 6.88%, <br> 11/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 5850 | &nbsp;&nbsp; 5839645 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| RR Donnelley & Sons Co. |  |  |
| 9.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; $13450 | &nbsp;&nbsp; $13560962 |
| 10.88%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6381 | &nbsp;&nbsp; 6292065 |
| Service Corp. International/U.S. |  |  |
| 3.38%, 08/15/30 | &nbsp;&nbsp; 11846 | &nbsp;&nbsp; 10484851 |
| 4.00%, 05/15/31 | &nbsp;&nbsp; 11502 | &nbsp;&nbsp; 10364974 |
| 4.63%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5839 | &nbsp;&nbsp; 5710004 |
| 5.13%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 9762 | &nbsp;&nbsp; 9586284 |
| 5.75%, 10/15/32<sup>(b)</sup> | &nbsp;&nbsp; 8181 | &nbsp;&nbsp; 8063603 |
| Shift4 Payments LLC/Shift4 Payments <br> Finance Sub Inc.<br>|  |  |
| 4.63%, 11/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1313 | &nbsp;&nbsp; 1293282 |
| 6.75%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 15404 | &nbsp;&nbsp; 15770769 |
| Sotheby's, 7.38%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9936 | &nbsp;&nbsp; 9721548 |
| United Rentals North America Inc. |  |  |
| 3.75%, 01/15/32<sup>(b)</sup> | &nbsp;&nbsp; 10208 | &nbsp;&nbsp; 9050215 |
| 3.88%, 11/15/27 | &nbsp;&nbsp; 9780 | &nbsp;&nbsp; 9410588 |
| 3.88%, 02/15/31 | &nbsp;&nbsp; 16359 | &nbsp;&nbsp; 14811030 |
| 4.00%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp; 9606 | &nbsp;&nbsp; 8866194 |
| 4.88%, 01/15/28 | &nbsp;&nbsp; 21916 | &nbsp;&nbsp; 21489734 |
| 5.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 10023 | &nbsp;&nbsp; 9851549 |
| 5.50%, 05/15/27<sup>(b)</sup> | &nbsp;&nbsp; 3191 | &nbsp;&nbsp; 3184957 |
| 6.13%, 03/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 14533 | &nbsp;&nbsp; 14628264 |
| Wand NewCo 3 Inc., 7.63%, 01/30/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 17255 | &nbsp;&nbsp; 17815787 |
| Williams Scotsman Inc. |  |  |
| 4.63%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6166 | &nbsp;&nbsp; 5873886 |
| 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6532 | &nbsp;&nbsp; 6621815 |
| 7.38%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6318 | &nbsp;&nbsp; 6521558 |
|  |  | &nbsp;&nbsp; 678002092 |
| **Computers — 1.1%** | **Computers — 1.1%** | **Computers — 1.1%** |
| Amentum Holdings Inc., 7.25%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13282 | &nbsp;&nbsp; 13762525 |
| Fortress Intermediate 3 Inc., 7.50%, <br> 06/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10051 | &nbsp;&nbsp; 10412836 |
| McAfee Corp., 7.38%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 28005 | &nbsp;&nbsp; 27035187 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 18879 | &nbsp;&nbsp; 20766900 |
| NCR Voyix Corp. |  |  |
| 5.00%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9164 | &nbsp;&nbsp; 8801449 |
| 5.13%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5751 | &nbsp;&nbsp; 5481422 |
| Seagate HDD Cayman |  |  |
| 4.09%, 06/01/29<sup>(b)</sup> | &nbsp;&nbsp; 7380 | &nbsp;&nbsp; 6954890 |
| 4.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 7325 | &nbsp;&nbsp; 7224061 |
| 8.25%, 12/15/29<sup>(b)</sup> | &nbsp;&nbsp; 6072 | &nbsp;&nbsp; 6527461 |
| 8.50%, 07/15/31<sup>(b)</sup> | &nbsp;&nbsp; 6261 | &nbsp;&nbsp; 6746102 |
| 9.63%, 12/01/32<sup>(b)</sup> | &nbsp;&nbsp; 10369 | &nbsp;&nbsp; 11820813 |
| Vericast Corp., 12.41%, 06/15/30<sup>(d)</sup> | &nbsp;&nbsp; 0 <br><sup>(f)</sup><br>| &nbsp;&nbsp; 1 |
| Western Digital Corp., 4.75%, 02/15/26 | &nbsp;&nbsp; 30392 | &nbsp;&nbsp; 30115129 |
|  |  | &nbsp;&nbsp; 155648776 |
| **Cosmetics & Personal Care — 0.5%** | **Cosmetics & Personal Care — 0.5%** | **Cosmetics & Personal Care — 0.5%** |
| Coty Inc., 5.00%, 04/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4947 | &nbsp;&nbsp; 4922265 |
| Coty Inc./HFC Prestige Products Inc./HFC <br> Prestige International U.S. LLC<br>|  |  |
| 4.75%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6528 | &nbsp;&nbsp; 6289262 |
| 6.63%, 07/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10269 | &nbsp;&nbsp; 10471777 |
| Edgewell Personal Care Co. |  |  |
| 4.13%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6595 | &nbsp;&nbsp; 6134174 |
| 5.50%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9740 | &nbsp;&nbsp; 9618250 |
| Perrigo Finance Unlimited Co. |  |  |
| 5.15%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 8068 | &nbsp;&nbsp; 7636927 |
| 6.13%, 09/30/32<sup>(b)</sup> | &nbsp;&nbsp; 10036 | &nbsp;&nbsp; 9910550 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** |
| Prestige Brands Inc. |  |  |
| 3.75%, 04/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $8576 | &nbsp;&nbsp; $7637157 |
| 5.13%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4713 | &nbsp;&nbsp; 4615238 |
|  |  | &nbsp;&nbsp; 67235600 |
| **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** |
| American Builders & Contractors Supply <br> Co. Inc.<br>|  |  |
| 3.88%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6230 | &nbsp;&nbsp; 5679843 |
| 4.00%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8700 | &nbsp;&nbsp; 8272743 |
| H&E Equipment Services Inc., 3.88%, <br> 12/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 18078 | &nbsp;&nbsp; 16701089 |
| Ritchie Bros Holdings Inc. |  |  |
| 6.75%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6441 | &nbsp;&nbsp; 6604440 |
| 7.75%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10363 | &nbsp;&nbsp; 10860424 |
| Wesco Aircraft Holdings Inc. |  |  |
| 8.50%, 11/15/24<sup>(a)(g)(h)</sup> | &nbsp;&nbsp; 9458 | &nbsp;&nbsp; 1116044 |
| 9.00%, 11/15/26<sup>(a)(b)(g)(h)</sup> | &nbsp;&nbsp; 13501 | &nbsp;&nbsp; 5785179 |
|  |  | &nbsp;&nbsp; 55019762 |
| **Diversified Financial Services — 4.7%** | **Diversified Financial Services — 4.7%** | **Diversified Financial Services — 4.7%** |
| AG Issuer LLC, 6.25%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6108 | &nbsp;&nbsp; 5981738 |
| AG TTMT Escrow Issuer LLC, 8.63%, <br> 09/30/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6549 | &nbsp;&nbsp; 6745470 |
| Ally Financial Inc. |  |  |
| 5.75%, 11/20/25<sup>(b)</sup> | &nbsp;&nbsp; 7494 | &nbsp;&nbsp; 7529833 |
| 6.70%, 02/14/33<sup>(b)</sup> | &nbsp;&nbsp; 6766 | &nbsp;&nbsp; 6791835 |
| Aretec Group Inc. |  |  |
| 7.50%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4970 | &nbsp;&nbsp; 4777837 |
| 10.00%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8260 | &nbsp;&nbsp; 9004505 |
| Burford Capital Global Finance LLC |  |  |
| 6.25%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5083 | &nbsp;&nbsp; 5070293 |
| 9.25%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 9313 | &nbsp;&nbsp; 9994525 |
| Coinbase Global Inc. |  |  |
| 3.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 13230 | &nbsp;&nbsp; 11739582 |
| 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10248 | &nbsp;&nbsp; 8544782 |
| Credit Acceptance Corp. |  |  |
| 6.63%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 5087 | &nbsp;&nbsp; 5070467 |
| 9.25%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8691 | &nbsp;&nbsp; 9193289 |
| Encore Capital Group Inc. |  |  |
| 8.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7143 | &nbsp;&nbsp; 7526936 |
| 9.25%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7391 | &nbsp;&nbsp; 7863562 |
| Focus Financial Partners LLC, 6.75%, <br> 09/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13591 | &nbsp;&nbsp; 13493824 |
| Freedom Mortgage Holdings LLC |  |  |
| 9.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 9425 | &nbsp;&nbsp; 9516894 |
| 9.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 14784 | &nbsp;&nbsp; 15153600 |
| GGAM Finance Ltd. |  |  |
| 5.88%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5475 | &nbsp;&nbsp; 5399719 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5467 | &nbsp;&nbsp; 5576340 |
| 8.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9434 | &nbsp;&nbsp; 9724001 |
| 8.00%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8785 | &nbsp;&nbsp; 9267384 |
| 7.75%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5714 | &nbsp;&nbsp; 5815995 |
| Global Aircraft Leasing Co. Ltd., 8.75%, <br> 09/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14151 | &nbsp;&nbsp; 14573373 |
| goeasy Ltd. |  |  |
| 7.63%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9254 | &nbsp;&nbsp; 9506634 |
| 9.25%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8531 | &nbsp;&nbsp; 9062737 |
| Series 144\*, 6.88%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3080 | &nbsp;&nbsp; 3110800 |
| Jane Street Group/JSG Finance Inc. |  |  |
| 4.50%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8150 | &nbsp;&nbsp; 7701750 |
| 6.13%, 11/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10229 | &nbsp;&nbsp; 10241786 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 7.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; $18558 | &nbsp;&nbsp; $19230727 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp. |  |  |
| 5.00%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13749 | &nbsp;&nbsp; 12680721 |
| 6.63%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6710 | &nbsp;&nbsp; 6674055 |
| Macquarie Airfinance Holdings Ltd. |  |  |
| 6.50%, 03/26/31<sup>(a)</sup> | &nbsp;&nbsp; 813 | &nbsp;&nbsp; 843295 |
| 8.13%, 03/30/29<sup>(a)</sup> | &nbsp;&nbsp; 585 | &nbsp;&nbsp; 619117 |
| 8.38%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 374 | &nbsp;&nbsp; 393029 |
| Midcap Financial Issuer Trust |  |  |
| 5.63%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5328 | &nbsp;&nbsp; 4739256 |
| 6.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 14787 | &nbsp;&nbsp; 13992199 |
| Nationstar Mortgage Holdings Inc. |  |  |
| 5.00%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5929 | &nbsp;&nbsp; 5866968 |
| 5.13%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9127 | &nbsp;&nbsp; 8543191 |
| 5.50%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10892 | &nbsp;&nbsp; 10623104 |
| 5.75%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8084 | &nbsp;&nbsp; 7750535 |
| 6.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9587 | &nbsp;&nbsp; 9547292 |
| 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9710 | &nbsp;&nbsp; 9715049 |
| 7.13%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12858 | &nbsp;&nbsp; 13128899 |
| Navient Corp. |  |  |
| 4.88%, 03/15/28 | &nbsp;&nbsp; 5923 | &nbsp;&nbsp; 5635896 |
| 5.00%, 03/15/27<sup>(b)</sup> | &nbsp;&nbsp; 10019 | &nbsp;&nbsp; 9843768 |
| 5.50%, 03/15/29<sup>(b)</sup> | &nbsp;&nbsp; 9887 | &nbsp;&nbsp; 9417368 |
| 6.75%, 06/15/26<sup>(b)</sup> | &nbsp;&nbsp; 7729 | &nbsp;&nbsp; 7868149 |
| 9.38%, 07/25/30 | &nbsp;&nbsp; 7241 | &nbsp;&nbsp; 7833965 |
| 11.50%, 03/15/31 | &nbsp;&nbsp; 7280 | &nbsp;&nbsp; 8148358 |
| OneMain Finance Corp. |  |  |
| 3.50%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 10659 | &nbsp;&nbsp; 10155149 |
| 3.88%, 09/15/28<sup>(b)</sup> | &nbsp;&nbsp; 8068 | &nbsp;&nbsp; 7445467 |
| 4.00%, 09/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11085 | &nbsp;&nbsp; 9767271 |
| 5.38%, 11/15/29<sup>(b)</sup> | &nbsp;&nbsp; 10237 | &nbsp;&nbsp; 9814724 |
| 6.63%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 10596 | &nbsp;&nbsp; 10772423 |
| 6.63%, 05/15/29 | &nbsp;&nbsp; 3110 | &nbsp;&nbsp; 3110000 |
| 7.13%, 03/15/26<sup>(b)</sup> | &nbsp;&nbsp; 21302 | &nbsp;&nbsp; 21823899 |
| 7.13%, 11/15/31<sup>(b)</sup> | &nbsp;&nbsp; 10388 | &nbsp;&nbsp; 10498736 |
| 7.50%, 05/15/31<sup>(b)</sup> | &nbsp;&nbsp; 8939 | &nbsp;&nbsp; 9138178 |
| 7.88%, 03/15/30<sup>(b)</sup> | &nbsp;&nbsp; 9302 | &nbsp;&nbsp; 9674080 |
| 9.00%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp; 11479 | &nbsp;&nbsp; 12158965 |
| PennyMac Financial Services Inc. |  |  |
| 4.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8943 | &nbsp;&nbsp; 8313597 |
| 5.38%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 6779 | &nbsp;&nbsp; 6744427 |
| 5.75%, 09/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6733 | &nbsp;&nbsp; 6446848 |
| 7.13%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8948 | &nbsp;&nbsp; 9082220 |
| 7.88%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10365 | &nbsp;&nbsp; 10856392 |
| PRA Group Inc. |  |  |
| 8.38%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5674 | &nbsp;&nbsp; 5834521 |
| 8.88%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5662 | &nbsp;&nbsp; 5866115 |
| Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer Inc.<br>|  |  |
| 2.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 16281 | &nbsp;&nbsp; 15495805 |
| 3.63%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11311 | &nbsp;&nbsp; 10426480 |
| 3.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 16923 | &nbsp;&nbsp; 15082624 |
| 4.00%, 10/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 11699 | &nbsp;&nbsp; 10078367 |
| SLM Corp. |  |  |
| 3.13%, 11/02/26<sup>(b)</sup> | &nbsp;&nbsp; 3147 | &nbsp;&nbsp; 2986313 |
| 4.20%, 10/29/25 | &nbsp;&nbsp; 3038 | &nbsp;&nbsp; 2985139 |
| Synchrony Financial, 7.25%, 02/02/33<sup>(b)</sup> | &nbsp;&nbsp; 10556 | &nbsp;&nbsp; 10821190 |
| United Wholesale Mortgage LLC |  |  |
| 5.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 12242 | &nbsp;&nbsp; 12180790 |
| 5.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9630 | &nbsp;&nbsp; 9177243 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; $6825 | &nbsp;&nbsp; $6705501 |
|  |  | &nbsp;&nbsp; 670516896 |
| **Electric — 3.3%** | **Electric — 3.3%** | **Electric — 3.3%** |
| AES Corp. (The), 7.60%, 01/15/55, <br> (5-year CMT + 3.201%)<sup>(d)</sup><br>| &nbsp;&nbsp; 12283 | &nbsp;&nbsp; 12728259 |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13738 | &nbsp;&nbsp; 13879305 |
| California Buyer Ltd./Atlantica Sustainable <br> Infrastructure PLC, 6.38%, 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 4075 | &nbsp;&nbsp; 4049531 |
| Calpine Corp. |  |  |
| 3.75%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 11289 | &nbsp;&nbsp; 10175340 |
| 4.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 17081 | &nbsp;&nbsp; 16434997 |
| 4.63%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9392 | &nbsp;&nbsp; 8903499 |
| 5.00%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 11142 | &nbsp;&nbsp; 10494416 |
| 5.13%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 19550 | &nbsp;&nbsp; 19104852 |
| 5.25%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 664 | &nbsp;&nbsp; 657592 |
| Clearway Energy Operating LLC |  |  |
| 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 12671 | &nbsp;&nbsp; 11277982 |
| 4.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12017 | &nbsp;&nbsp; 11654149 |
| DPL Inc., 4.35%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 4722 | &nbsp;&nbsp; 4425301 |
| Edison International |  |  |
| 7.88%, 06/15/54, <br> (5-year CMT + 3.658%)<sup>(d)</sup><br>| &nbsp;&nbsp; 5738 | &nbsp;&nbsp; 6017728 |
| 8.13%, 06/15/53, <br> (5-year CMT + 3.864%)<sup>(d)</sup><br>| &nbsp;&nbsp; 6359 | &nbsp;&nbsp; 6660433 |
| Electricite de France SA, 9.13%, <br> (5-year CMT + 5.411%)<sup>(a)(d)(i)</sup><br>| &nbsp;&nbsp; 20652 | &nbsp;&nbsp; 23423147 |
| Emera Inc., Series 16-A, 6.75%, 06/15/76, <br> (3-mo. LIBOR US + 5.440%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 16037 | &nbsp;&nbsp; 16123600 |
| EUSHI Finance Inc., 7.63%, 12/15/54, <br> (5-year CMT + 3.136%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 7091 | &nbsp;&nbsp; 7347966 |
| Lightning Power LLC, 7.25%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 20155 | &nbsp;&nbsp; 20961200 |
| NextEra Energy Operating Partners LP |  |  |
| 3.88%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 7181 | &nbsp;&nbsp; 6926976 |
| 4.50%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9112 | &nbsp;&nbsp; 8747520 |
| 7.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10127 | &nbsp;&nbsp; 10418865 |
| NRG Energy Inc. |  |  |
| 3.38%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6658 | &nbsp;&nbsp; 6065049 |
| 3.63%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14681 | &nbsp;&nbsp; 12996355 |
| 3.88%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7929 | &nbsp;&nbsp; 7028910 |
| 5.25%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9340 | &nbsp;&nbsp; 9129850 |
| 5.75%, 01/15/28 | &nbsp;&nbsp; 9277 | &nbsp;&nbsp; 9285906 |
| 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12254 | &nbsp;&nbsp; 12102816 |
| 6.00%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp; 4135 | &nbsp;&nbsp; 4110190 |
| 6.25%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp; 11990 | &nbsp;&nbsp; 11973214 |
| PG&E Corp. |  |  |
| 5.00%, 07/01/28<sup>(b)</sup> | &nbsp;&nbsp; 12969 | &nbsp;&nbsp; 12485905 |
| 5.25%, 07/01/30<sup>(b)</sup> | &nbsp;&nbsp; 12669 | &nbsp;&nbsp; 12317832 |
| 7.38%, 03/15/55, <br> (5-year CMT + 3.883%)<sup>(d)</sup><br>| &nbsp;&nbsp; 13352 | &nbsp;&nbsp; 13790373 |
| Pike Corp. |  |  |
| 5.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 9197 | &nbsp;&nbsp; 8999176 |
| 8.63%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; 5280 | &nbsp;&nbsp; 5605926 |
| Talen Energy Supply LLC, 8.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 16687 | &nbsp;&nbsp; 18005273 |
| Vistra Operations Co. LLC |  |  |
| 4.38%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 17412 | &nbsp;&nbsp; 16538135 |
| 5.00%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp; 17314 | &nbsp;&nbsp; 17065717 |
| 5.50%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5839 | &nbsp;&nbsp; 5809455 |
| 5.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 15592 | &nbsp;&nbsp; 15553020 |
| 6.88%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13234 | &nbsp;&nbsp; 13680648 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 7.75%, 10/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $19545 | &nbsp;&nbsp; $20644406 |
|  |  | &nbsp;&nbsp; 463600814 |
| **Electrical Components & Equipment — 0.4%** | **Electrical Components & Equipment — 0.4%** | **Electrical Components & Equipment — 0.4%** |
| Energizer Holdings Inc. |  |  |
| 4.38%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10766 | &nbsp;&nbsp; 10039295 |
| 4.75%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7637 | &nbsp;&nbsp; 7338425 |
| WESCO Distribution Inc. |  |  |
| 6.38%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11245 | &nbsp;&nbsp; 11466527 |
| 6.63%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10949 | &nbsp;&nbsp; 11239696 |
| 7.25%, 06/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 17904 | &nbsp;&nbsp; 18311307 |
|  |  | &nbsp;&nbsp; 58395250 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| Imola Merger Corp., 4.75%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 27374 | &nbsp;&nbsp; 26605612 |
| Sensata Technologies BV |  |  |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14146 | &nbsp;&nbsp; 13229764 |
| 5.88%, 09/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6095 | &nbsp;&nbsp; 6033364 |
| Sensata Technologies Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10231 | &nbsp;&nbsp; 9136385 |
| 4.38%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6826 | &nbsp;&nbsp; 6358564 |
| 6.63%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6493 | &nbsp;&nbsp; 6574163 |
|  |  | &nbsp;&nbsp; 67937852 |
| **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** |
| TerraForm Power Operating LLC |  |  |
| 4.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10321 | &nbsp;&nbsp; 9630422 |
| 5.00%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; 10337 | &nbsp;&nbsp; 10104417 |
|  |  | &nbsp;&nbsp; 19734839 |
| **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** |
| Arcosa Inc. |  |  |
| 4.38%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5823 | &nbsp;&nbsp; 5481481 |
| 6.88%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8293 | &nbsp;&nbsp; 8505798 |
| Brand Industrial Services Inc., 10.38%, <br> 08/01/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 18040 | &nbsp;&nbsp; 19139899 |
|  |  | &nbsp;&nbsp; 33127178 |
| **Entertainment — 2.9%** | **Entertainment — 2.9%** | **Entertainment — 2.9%** |
| AMC Entertainment Holdings Inc. |  |  |
| 7.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12886 | &nbsp;&nbsp; 11114175 |
| 10.00%, 06/15/26, <br> (10.00% Cash or 12.00% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 15447 | &nbsp;&nbsp; 15494113 |
| Caesars Entertainment Inc. |  |  |
| 4.63%, 10/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16269 | &nbsp;&nbsp; 15252187 |
| 6.00%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7950 | &nbsp;&nbsp; 7754430 |
| 6.50%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 19886 | &nbsp;&nbsp; 20162710 |
| 7.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 27730 | &nbsp;&nbsp; 28442561 |
| 8.13%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 10758 | &nbsp;&nbsp; 10977941 |
| Cedar Fair LP/Canada's Wonderland <br> Co./Magnum Management <br> Corp./Millennium Op<br>|  |  |
| 5.25%, 07/15/29<sup>(b)</sup> | &nbsp;&nbsp; 6665 | &nbsp;&nbsp; 6419728 |
| 5.38%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5242 | &nbsp;&nbsp; 5198153 |
| Churchill Downs Inc. |  |  |
| 4.75%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9663 | &nbsp;&nbsp; 9373013 |
| 5.50%, 04/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8147 | &nbsp;&nbsp; 8087201 |
| 5.75%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 15445 | &nbsp;&nbsp; 15185207 |
| 6.75%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7343 | &nbsp;&nbsp; 7475468 |
| Cinemark USA Inc. |  |  |
| 5.25%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10148 | &nbsp;&nbsp; 9957725 |
| 7.00%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6709 | &nbsp;&nbsp; 6876725 |
| International Game Technology PLC |  |  |
| 4.13%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 9748 | &nbsp;&nbsp; 9607439 |
| 5.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9621 | &nbsp;&nbsp; 9451687 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| 6.25%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; $9984 | &nbsp;&nbsp; $10067267 |
| Light & Wonder International Inc. |  |  |
| 7.00%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12211 | &nbsp;&nbsp; 12257371 |
| 7.25%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5417 | &nbsp;&nbsp; 5534030 |
| 7.50%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7178 | &nbsp;&nbsp; 7404251 |
| Live Nation Entertainment Inc. |  |  |
| 3.75%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6072 | &nbsp;&nbsp; 5726017 |
| 4.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 13272 | &nbsp;&nbsp; 12905162 |
| 6.50%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 14938 | &nbsp;&nbsp; 15154334 |
| Merlin Entertainments Group U.S. Holdings <br> Inc., 7.38%, 02/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8349 | &nbsp;&nbsp; 8190703 |
| Merlin Entertainments Ltd., 5.75%, <br> 06/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 4482 | &nbsp;&nbsp; 4409782 |
| Mohegan Tribal Gaming Authority, 8.00%, <br> 02/01/26<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 16849 | &nbsp;&nbsp; 16722632 |
| Motion Bondco DAC, 6.63%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5539 | &nbsp;&nbsp; 5225872 |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5389 | &nbsp;&nbsp; 5671923 |
| Premier Entertainment Sub LLC/Premier <br> Entertainment Finance Corp.<br>|  |  |
| 5.63%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10340 | &nbsp;&nbsp; 7294009 |
| 5.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10173 | &nbsp;&nbsp; 6548869 |
| Resorts World Las Vegas LLC/RWLV <br> Capital Inc.<br>|  |  |
| 4.63%, 04/16/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14212 | &nbsp;&nbsp; 12514092 |
| 8.45%, 07/27/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5721 | &nbsp;&nbsp; 5871176 |
| Six Flags Entertainment Corp./DE |  |  |
| 5.50%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5694 | &nbsp;&nbsp; 5658413 |
| 7.25%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10562 | &nbsp;&nbsp; 10826050 |
| Six Flags Entertainment Corp./Six Flags <br> Theme Parks Inc., 6.63%, 05/01/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10886 | &nbsp;&nbsp; 11090112 |
| WMG Acquisition Corp., 3.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 745 | &nbsp;&nbsp; 651957 |
| Wynn Resorts Finance LLC/Wynn Resorts <br> Capital Corp.<br>|  |  |
| 5.13%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10456 | &nbsp;&nbsp; 10155390 |
| 6.25%, 03/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 11260 | &nbsp;&nbsp; 11204919 |
| 7.13%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14054 | &nbsp;&nbsp; 14781505 |
|  |  | &nbsp;&nbsp; 402696299 |
| **Environmental Control — 0.8%** | **Environmental Control — 0.8%** | **Environmental Control — 0.8%** |
| Clean Harbors Inc. |  |  |
| 4.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5298 | &nbsp;&nbsp; 5220596 |
| 6.38%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7875 | &nbsp;&nbsp; 7930257 |
| GFL Environmental Inc. |  |  |
| 3.50%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10154 | &nbsp;&nbsp; 9514603 |
| 3.75%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1679040 |
| 4.00%, 08/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9584 | &nbsp;&nbsp; 9062454 |
| 4.38%, 08/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7240 | &nbsp;&nbsp; 6785990 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10092 | &nbsp;&nbsp; 9639121 |
| 5.13%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4767 | &nbsp;&nbsp; 4724049 |
| 6.75%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12614 | &nbsp;&nbsp; 12981067 |
| Madison IAQ LLC |  |  |
| 4.13%, 06/30/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8923 | &nbsp;&nbsp; 8477094 |
| 5.88%, 06/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13826 | &nbsp;&nbsp; 13114652 |
| Reworld Holding Corp. |  |  |
| 4.88%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10400 | &nbsp;&nbsp; 9663576 |
| 5.00%, 09/01/30<sup>(b)</sup> | &nbsp;&nbsp; 5266 | &nbsp;&nbsp; 4835031 |
| Wrangler Holdco Corp., 6.63%, 04/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6243 | &nbsp;&nbsp; 6377859 |
|  |  | &nbsp;&nbsp; 110005389 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food — 2.6%** | **Food — 2.6%** | **Food — 2.6%** |
| Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| 3.25%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; $10949 | &nbsp;&nbsp; $10580536 |
| 3.50%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 20743 | &nbsp;&nbsp; 19194535 |
| 4.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 19743 | &nbsp;&nbsp; 19323461 |
| 4.88%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14836 | &nbsp;&nbsp; 14427104 |
| 5.88%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11797 | &nbsp;&nbsp; 11815655 |
| 6.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11295 | &nbsp;&nbsp; 11509492 |
| 7.50%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 9229 | &nbsp;&nbsp; 9345839 |
| B&G Foods Inc. |  |  |
| 5.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 8556 | &nbsp;&nbsp; 8293221 |
| 8.00%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11262 | &nbsp;&nbsp; 11670248 |
| Chobani Holdco II LLC, 8.75%, 10/01/29, <br> (8.75% cash and 9.5% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 7099 | &nbsp;&nbsp; 7325068 |
| KeHE Distributors LLC/KeHE Finance <br> Corp./NextWave Distribution Inc., 9.00%, <br> 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13413 | &nbsp;&nbsp; 13876687 |
| Lamb Weston Holdings Inc. |  |  |
| 4.13%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14071 | &nbsp;&nbsp; 13064354 |
| 4.38%, 01/31/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10572 | &nbsp;&nbsp; 9670674 |
| 4.88%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7615 | &nbsp;&nbsp; 7458776 |
| Performance Food Group Inc. |  |  |
| 4.25%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13250 | &nbsp;&nbsp; 12377156 |
| 5.50%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 13829 | &nbsp;&nbsp; 13720673 |
| 6.13%, 09/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9524 | &nbsp;&nbsp; 9555548 |
| Pilgrim's Pride Corp. |  |  |
| 3.50%, 03/01/32<sup>(b)</sup> | &nbsp;&nbsp; 11510 | &nbsp;&nbsp; 10070214 |
| 4.25%, 04/15/31 | &nbsp;&nbsp; 13250 | &nbsp;&nbsp; 12316597 |
| 6.25%, 07/01/33 | &nbsp;&nbsp; 13114 | &nbsp;&nbsp; 13590923 |
| 6.88%, 05/15/34 | &nbsp;&nbsp; 5867 | &nbsp;&nbsp; 6356453 |
| Post Holdings Inc. |  |  |
| 4.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13730 | &nbsp;&nbsp; 12505421 |
| 4.63%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 18826 | &nbsp;&nbsp; 17591767 |
| 5.50%, 12/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16507 | &nbsp;&nbsp; 16108356 |
| 5.63%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5962 | &nbsp;&nbsp; 6012617 |
| 6.25%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 14207 | &nbsp;&nbsp; 14360720 |
| 6.25%, 10/15/34<sup>(a)</sup> | &nbsp;&nbsp; 3202 | &nbsp;&nbsp; 3165177 |
| 6.38%, 03/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 16591 | &nbsp;&nbsp; 16398876 |
| U.S. Foods Inc. |  |  |
| 4.63%, 06/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7509 | &nbsp;&nbsp; 7121142 |
| 4.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12162 | &nbsp;&nbsp; 11724290 |
| 5.75%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 4190 | &nbsp;&nbsp; 4126731 |
| 6.88%, 09/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6595 | &nbsp;&nbsp; 6788168 |
| 7.25%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6079 | &nbsp;&nbsp; 6320269 |
|  |  | &nbsp;&nbsp; 367766748 |
| **Food Service — 0.2%** | **Food Service — 0.2%** | **Food Service — 0.2%** |
| Aramark Services Inc., 5.00%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 15887 | &nbsp;&nbsp; 15590866 |
| TKC Holdings Inc. |  |  |
| 6.88%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6228 | &nbsp;&nbsp; 6135367 |
| 10.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9784 | &nbsp;&nbsp; 9903242 |
|  |  | &nbsp;&nbsp; 31629475 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| Glatfelter Corp. |  |  |
| 4.75%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4825 | &nbsp;&nbsp; 4336469 |
| 7.25%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10340 | &nbsp;&nbsp; 10252110 |
| Mercer International Inc. |  |  |
| 5.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 11111 | &nbsp;&nbsp; 9570615 |
| 12.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2859644 |
|  |  | &nbsp;&nbsp; 27018838 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| AmeriGas Partners LP/AmeriGas <br> Finance Corp.<br>|  |  |
| 5.50%, 05/20/25<sup>(b)</sup> | &nbsp;&nbsp; $635 | &nbsp;&nbsp; $631762 |
| 5.75%, 05/20/27 | &nbsp;&nbsp; 7111 | &nbsp;&nbsp; 6836782 |
| 5.88%, 08/20/26 | &nbsp;&nbsp; 8924 | &nbsp;&nbsp; 8726298 |
| 9.38%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6426 | &nbsp;&nbsp; 6610747 |
|  |  | &nbsp;&nbsp; 22805589 |
| **Health Care - Products — 1.4%** | **Health Care - Products — 1.4%** | **Health Care - Products — 1.4%** |
| Avantor Funding Inc. |  |  |
| 3.88%, 11/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12325 | &nbsp;&nbsp; 11382137 |
| 4.63%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 21656 | &nbsp;&nbsp; 20918793 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 18725 | &nbsp;&nbsp; 19676292 |
| Hologic Inc. |  |  |
| 3.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14165 | &nbsp;&nbsp; 13013102 |
| 4.63%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4569 | &nbsp;&nbsp; 4466312 |
| Medline Borrower LP |  |  |
| 3.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 61241 | &nbsp;&nbsp; 57306266 |
| 5.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 34186 | &nbsp;&nbsp; 33126918 |
| Medline Borrower LP/Medline Co-Issuer Inc., <br> 6.25%, 04/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 20091 | &nbsp;&nbsp; 20439002 |
| Teleflex Inc. |  |  |
| 4.25%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6503 | &nbsp;&nbsp; 6241384 |
| 4.63%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6044 | &nbsp;&nbsp; 5928862 |
|  |  | &nbsp;&nbsp; 192499068 |
| **Health Care - Services — 4.4%** | **Health Care - Services — 4.4%** | **Health Care - Services — 4.4%** |
| Catalent Pharma Solutions Inc. |  |  |
| 3.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6658 | &nbsp;&nbsp; 6456595 |
| 3.50%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8684 | &nbsp;&nbsp; 8410677 |
| 5.00%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1922 | &nbsp;&nbsp; 1907122 |
| Charles River Laboratories International Inc. |  |  |
| 3.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6773 | &nbsp;&nbsp; 6201013 |
| 4.00%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7343 | &nbsp;&nbsp; 6561446 |
| 4.25%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7923 | &nbsp;&nbsp; 7536397 |
| CHS/Community Health Systems Inc. |  |  |
| 4.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13901 | &nbsp;&nbsp; 11546449 |
| 5.25%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 20421 | &nbsp;&nbsp; 17817322 |
| 5.63%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 25184 | &nbsp;&nbsp; 24581682 |
| 6.00%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7600 | &nbsp;&nbsp; 7148486 |
| 6.13%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 17137 | &nbsp;&nbsp; 13481678 |
| 6.88%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9339 | &nbsp;&nbsp; 7678215 |
| 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16491 | &nbsp;&nbsp; 13926649 |
| 8.00%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9660 | &nbsp;&nbsp; 9654325 |
| 10.88%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 30349 | &nbsp;&nbsp; 32557800 |
| DaVita Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 19686 | &nbsp;&nbsp; 17136663 |
| 4.63%, 06/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 36167 | &nbsp;&nbsp; 33262428 |
| 6.88%, 09/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13369 | &nbsp;&nbsp; 13435845 |
| Encompass Health Corp. |  |  |
| 4.50%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 9197 | &nbsp;&nbsp; 8935138 |
| 4.63%, 04/01/31<sup>(b)</sup> | &nbsp;&nbsp; 5180 | &nbsp;&nbsp; 4858377 |
| 4.75%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 10058 | &nbsp;&nbsp; 9676902 |
| IQVIA Inc. |  |  |
| 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 11886 | &nbsp;&nbsp; 11755567 |
| 5.00%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 14162 | &nbsp;&nbsp; 13984975 |
| 6.50%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6706 | &nbsp;&nbsp; 6881707 |
| LifePoint Health Inc. |  |  |
| 4.38%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7269 | &nbsp;&nbsp; 7041916 |
| 5.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6364 | &nbsp;&nbsp; 5792301 |
| 9.88%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10901 | &nbsp;&nbsp; 11939865 |
| 10.00%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10455 | &nbsp;&nbsp; 11116279 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| 11.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; $15774 | &nbsp;&nbsp; $17588010 |
| Molina Healthcare Inc. |  |  |
| 3.88%, 11/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8126 | &nbsp;&nbsp; 7361804 |
| 3.88%, 05/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10203 | &nbsp;&nbsp; 9049194 |
| 4.38%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10783 | &nbsp;&nbsp; 10317309 |
| MPH Acquisition Holdings LLC |  |  |
| 5.50%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13532 | &nbsp;&nbsp; 9097293 |
| 5.75%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13730 | &nbsp;&nbsp; 6362825 |
| Prime Healthcare Services Inc., 9.38%, <br> 09/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 19997 | &nbsp;&nbsp; 20319952 |
| Radiology Partners Inc. |  |  |
| 7.78%, 01/31/29, <br> (4.28% Cash and 3.50% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 9511 | &nbsp;&nbsp; 9439371 |
| 9.78%, 02/15/30, (9.78% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 8816 | &nbsp;&nbsp; 8316064 |
| Select Medical Corp., 6.25%, 08/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 20105 | &nbsp;&nbsp; 20154659 |
| Star Parent Inc., 9.00%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13890 | &nbsp;&nbsp; 14445600 |
| Tenet Healthcare Corp. |  |  |
| 4.25%, 06/01/29 | &nbsp;&nbsp; 18021 | &nbsp;&nbsp; 17069187 |
| 4.38%, 01/15/30 | &nbsp;&nbsp; 20501 | &nbsp;&nbsp; 19245970 |
| 4.63%, 06/15/28<sup>(b)</sup> | &nbsp;&nbsp; 8587 | &nbsp;&nbsp; 8299550 |
| 5.13%, 11/01/27 | &nbsp;&nbsp; 18159 | &nbsp;&nbsp; 18015362 |
| 6.13%, 10/01/28<sup>(b)</sup> | &nbsp;&nbsp; 36920 | &nbsp;&nbsp; 36966150 |
| 6.13%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 26144 | &nbsp;&nbsp; 26295112 |
| 6.25%, 02/01/27 | &nbsp;&nbsp; 13457 | &nbsp;&nbsp; 13470335 |
| 6.75%, 05/15/31<sup>(b)</sup> | &nbsp;&nbsp; 18572 | &nbsp;&nbsp; 18970524 |
|  |  | &nbsp;&nbsp; 622068090 |
| **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** |
| Compass Group Diversified Holdings LLC, <br> 5.25%, 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 12736 | &nbsp;&nbsp; 12243401 |
| Icahn Enterprises LP/Icahn Enterprises <br> Finance Corp.<br>|  |  |
| 4.38%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 9639 | &nbsp;&nbsp; 8017720 |
| 5.25%, 05/15/27 | &nbsp;&nbsp; 20042 | &nbsp;&nbsp; 18664692 |
| 6.25%, 05/15/26 | &nbsp;&nbsp; 16623 | &nbsp;&nbsp; 16244827 |
| 9.00%, 06/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11474 | &nbsp;&nbsp; 11072410 |
| 9.75%, 01/15/29 | &nbsp;&nbsp; 11373 | &nbsp;&nbsp; 11334332 |
| Stena International SA |  |  |
| 7.25%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9468 | &nbsp;&nbsp; 9844447 |
| 7.63%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5472 | &nbsp;&nbsp; 5722393 |
|  |  | &nbsp;&nbsp; 93144222 |
| **Home Builders — 0.5%** | **Home Builders — 0.5%** | **Home Builders — 0.5%** |
| Ashton Woods USA LLC/Ashton Woods <br> Finance Co., 4.63%, 04/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 5227 | &nbsp;&nbsp; 4821908 |
| Brookfield Residential <br> Properties Inc./Brookfield Residential <br> U.S. LLC<br>|  |  |
| 4.88%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6514 | &nbsp;&nbsp; 6049612 |
| 6.25%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7945 | &nbsp;&nbsp; 7889623 |
| Century Communities Inc. |  |  |
| 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6715 | &nbsp;&nbsp; 6100544 |
| 6.75%, 06/01/27 | &nbsp;&nbsp; 7225 | &nbsp;&nbsp; 7268422 |
| Mattamy Group Corp. |  |  |
| 4.63%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7952 | &nbsp;&nbsp; 7425896 |
| 5.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6244 | &nbsp;&nbsp; 6132714 |
| Taylor Morrison Communities Inc. |  |  |
| 5.13%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7003 | &nbsp;&nbsp; 6772457 |
| 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5624 | &nbsp;&nbsp; 5622650 |
| 5.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6875 | &nbsp;&nbsp; 6890263 |
|  |  | &nbsp;&nbsp; 64974089 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Tempur Sealy International Inc. |  |  |
| 3.88%, 10/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $10630 | &nbsp;&nbsp; $9244698 |
| 4.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10599 | &nbsp;&nbsp; 9751743 |
|  |  | &nbsp;&nbsp; 18996441 |
| **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** |
| 1011778 BC ULC/New Red Finance Inc., <br> 6.13%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 15840 | &nbsp;&nbsp; 16106429 |
| **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** |
| Central Garden & Pet Co. |  |  |
| 4.13%, 10/15/30<sup>(b)</sup> | &nbsp;&nbsp; 6997 | &nbsp;&nbsp; 6331725 |
| 4.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp; 5904 | &nbsp;&nbsp; 5280390 |
| Kronos Acquisition Holdings Inc. |  |  |
| 8.25%, 06/30/31<sup>(a)</sup> | &nbsp;&nbsp; 6674 | &nbsp;&nbsp; 6605642 |
| 10.75%, 06/30/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 5987 | &nbsp;&nbsp; 5579704 |
|  |  | &nbsp;&nbsp; 23797461 |
| **Housewares — 0.4%** | **Housewares — 0.4%** | **Housewares — 0.4%** |
| Newell Brands Inc. |  |  |
| 5.70%, 04/01/26 | &nbsp;&nbsp; 27753 | &nbsp;&nbsp; 27801568 |
| 6.38%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp; 7337 | &nbsp;&nbsp; 7428560 |
| 6.63%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 6706 | &nbsp;&nbsp; 6807529 |
| Scotts Miracle-Gro Co. (The) |  |  |
| 4.00%, 04/01/31<sup>(b)</sup> | &nbsp;&nbsp; 5677 | &nbsp;&nbsp; 5077849 |
| 4.38%, 02/01/32<sup>(b)</sup> | &nbsp;&nbsp; 5645 | &nbsp;&nbsp; 5104679 |
| 4.50%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp; 5958 | &nbsp;&nbsp; 5617277 |
|  |  | &nbsp;&nbsp; 57837462 |
| **Insurance — 2.9%** | **Insurance — 2.9%** | **Insurance — 2.9%** |
| Acrisure LLC/Acrisure Finance Inc. |  |  |
| 4.25%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8381 | &nbsp;&nbsp; 7888616 |
| 6.00%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7174 | &nbsp;&nbsp; 6783983 |
| 7.50%, 11/06/30<sup>(a)</sup> | &nbsp;&nbsp; 14598 | &nbsp;&nbsp; 14822241 |
| 8.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 11463 | &nbsp;&nbsp; 11649274 |
| 8.50%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6309 | &nbsp;&nbsp; 6472372 |
| Alliant Holdings Intermediate LLC/Alliant <br> Holdings Co-Issuer<br>|  |  |
| 4.25%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10243 | &nbsp;&nbsp; 9718046 |
| 5.88%, 11/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6520 | &nbsp;&nbsp; 6148808 |
| 6.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 14175 | &nbsp;&nbsp; 14041304 |
| 6.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 17058 | &nbsp;&nbsp; 16983371 |
| 6.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 17134 | &nbsp;&nbsp; 17214730 |
| 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 19985 | &nbsp;&nbsp; 20106974 |
| 7.38%, 10/01/32<sup>(a)</sup> | &nbsp;&nbsp; 9810 | &nbsp;&nbsp; 9724163 |
| AmWINS Group Inc. |  |  |
| 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp; 10109 | &nbsp;&nbsp; 9531624 |
| 6.38%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9838 | &nbsp;&nbsp; 9881868 |
| Ardonagh Finco Ltd., 7.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 10646 | &nbsp;&nbsp; 10879325 |
| Ardonagh Group Finance Ltd., 8.88%, <br> 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp; 14129 | &nbsp;&nbsp; 14426989 |
| AssuredPartners Inc. |  |  |
| 5.63%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7202 | &nbsp;&nbsp; 6806718 |
| 7.50%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7378 | &nbsp;&nbsp; 7432925 |
| FWD Group Holdings Ltd., 8.40%, <br> 04/05/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11159 | &nbsp;&nbsp; 11818100 |
| Global Atlantic Fin Co. |  |  |
| 4.70%, 10/15/51, <br> (5-year CMT + 3.796%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 9641 | &nbsp;&nbsp; 9222773 |
| 7.95%, 10/15/54, <br> (5-year CMT + 3.608%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 8001 | &nbsp;&nbsp; 8302398 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Howden U.K. Refinance PLC/Howden U.K. <br> Refinance 2 PLC/Howden U.S. Refinance <br> LLC<br>|  |  |
| 7.25%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; $14007 | &nbsp;&nbsp; $14213142 |
| 8.13%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 6875 | &nbsp;&nbsp; 6960938 |
| HUB International Ltd. |  |  |
| 5.63%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8139 | &nbsp;&nbsp; 7866196 |
| 7.25%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 42632 | &nbsp;&nbsp; 44127104 |
| 7.38%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp; 26484 | &nbsp;&nbsp; 26935023 |
| Jones Deslauriers Insurance <br> Management Inc.<br>|  |  |
| 8.50%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9282 | &nbsp;&nbsp; 9831274 |
| 10.50%, 12/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8793 | &nbsp;&nbsp; 9468918 |
| Liberty Mutual Group Inc. |  |  |
| 4.13%, 12/15/51, <br> (5-year CMT + 3.315%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 5598 | &nbsp;&nbsp; 5263130 |
| 4.30%, 02/01/61<sup>(a)(b)</sup> | &nbsp;&nbsp; 12238 | &nbsp;&nbsp; 8063567 |
| Panther Escrow Issuer LLC, 7.13%, <br> 06/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 40685 | &nbsp;&nbsp; 41574984 |
| Ryan Specialty LLC |  |  |
| 4.38%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 1065 | &nbsp;&nbsp; 1006340 |
| 5.88%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp; 8434 | &nbsp;&nbsp; 8398105 |
|  |  | &nbsp;&nbsp; 413565323 |
| **Internet — 1.4%** | **Internet — 1.4%** | **Internet — 1.4%** |
| Arches Buyer Inc. |  |  |
| 4.25%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12451 | &nbsp;&nbsp; 11372743 |
| 6.13%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6483 | &nbsp;&nbsp; 5682350 |
| Cogent Communications Group LLC |  |  |
| 3.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 6604 | &nbsp;&nbsp; 6424437 |
| 7.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6533 | &nbsp;&nbsp; 6600094 |
| Gen Digital Inc. |  |  |
| 6.75%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 12187 | &nbsp;&nbsp; 12400273 |
| 7.13%, 09/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6645 | &nbsp;&nbsp; 6878372 |
| Go Daddy Operating Co. LLC/GD Finance <br> Co. Inc.<br>|  |  |
| 3.50%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10077 | &nbsp;&nbsp; 9287219 |
| 5.25%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 7518 | &nbsp;&nbsp; 7419796 |
| ION Trading Technologies SARL |  |  |
| 5.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5946 | &nbsp;&nbsp; 5385590 |
| 9.50%, 05/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10618 | &nbsp;&nbsp; 10803815 |
| Match Group Holdings II LLC |  |  |
| 3.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6768 | &nbsp;&nbsp; 5930172 |
| 4.13%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6508 | &nbsp;&nbsp; 5918440 |
| 4.63%, 06/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6959 | &nbsp;&nbsp; 6696994 |
| 5.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6820 | &nbsp;&nbsp; 6653865 |
| Newfold Digital Holdings Group Inc. |  |  |
| 6.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9617 | &nbsp;&nbsp; 6480415 |
| 11.75%, 10/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6901 | &nbsp;&nbsp; 6814341 |
| Rakuten Group Inc. |  |  |
| 5.13%, (5-year CMT + 4.578%)<sup>(a)(b)(d)(i)</sup> | &nbsp;&nbsp; 10231 | &nbsp;&nbsp; 9818781 |
| 6.25%, (5-year CMT + 4.956%)<sup>(a)(b)(d)(i)</sup> | &nbsp;&nbsp; 13047 | &nbsp;&nbsp; 11807535 |
| 9.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 26542 | &nbsp;&nbsp; 28599005 |
| 11.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 25285 | &nbsp;&nbsp; 27456476 |
| Uber Technologies Inc. |  |  |
| 4.50%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 424 | &nbsp;&nbsp; 411227 |
| 6.25%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 147 | &nbsp;&nbsp; 148341 |
| 7.50%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 666 | &nbsp;&nbsp; 678749 |
| 8.00%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 203 | &nbsp;&nbsp; 202931 |
|  |  | &nbsp;&nbsp; 199871961 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Iron & Steel — 0.7%** | **Iron & Steel — 0.7%** | **Iron & Steel — 0.7%** |
| ATI Inc., 7.25%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; $6468 | &nbsp;&nbsp; $6690783 |
| Cleveland-Cliffs Inc. |  |  |
| 5.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp; 7915 | &nbsp;&nbsp; 7908510 |
| 6.75%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11295 | &nbsp;&nbsp; 11326061 |
| 6.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9275 | &nbsp;&nbsp; 9311914 |
| 7.00%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 19280 | &nbsp;&nbsp; 19304100 |
| 7.38%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp; 7155 | &nbsp;&nbsp; 7208662 |
| Mineral Resources Ltd. |  |  |
| 8.00%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8819 | &nbsp;&nbsp; 9039475 |
| 8.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 10003 | &nbsp;&nbsp; 10074121 |
| 8.50%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7866 | &nbsp;&nbsp; 8094665 |
| 9.25%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 15111 | &nbsp;&nbsp; 15910135 |
|  |  | &nbsp;&nbsp; 104868426 |
| **Leisure Time — 1.2%** | **Leisure Time — 1.2%** | **Leisure Time — 1.2%** |
| Carnival Holdings Bermuda Ltd., 10.38%, <br> 05/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 28767 | &nbsp;&nbsp; 30873607 |
| Life Time Inc. |  |  |
| 5.75%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 11484 | &nbsp;&nbsp; 11477684 |
| 8.00%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8239 | &nbsp;&nbsp; 8278135 |
| NCL Corp. Ltd. |  |  |
| 5.88%, 03/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 18896 | &nbsp;&nbsp; 18787348 |
| 5.88%, 02/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 12737 | &nbsp;&nbsp; 12721079 |
| 7.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7837 | &nbsp;&nbsp; 8272424 |
| 8.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11016 | &nbsp;&nbsp; 11666971 |
| 8.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6959 | &nbsp;&nbsp; 7285725 |
| NCL Finance Ltd., 6.13%, 03/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6915 | &nbsp;&nbsp; 6955085 |
| Sabre GLBL Inc. |  |  |
| 8.63%, 06/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 12121 | &nbsp;&nbsp; 11678705 |
| 11.25%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7201 | &nbsp;&nbsp; 7405868 |
| Viking Cruises Ltd. |  |  |
| 5.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 10971 | &nbsp;&nbsp; 10900895 |
| 7.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6286 | &nbsp;&nbsp; 6346283 |
| 9.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8656 | &nbsp;&nbsp; 9348485 |
| VOC Escrow Ltd., 5.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8602 | &nbsp;&nbsp; 8342306 |
|  |  | &nbsp;&nbsp; 170340600 |
| **Lodging — 2.7%** | **Lodging — 2.7%** | **Lodging — 2.7%** |
| Boyd Gaming Corp. |  |  |
| 4.75%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 12114 | &nbsp;&nbsp; 11882663 |
| 4.75%, 06/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12572 | &nbsp;&nbsp; 11701012 |
| Hilton Domestic Operating Co. Inc. |  |  |
| 3.63%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 21517 | &nbsp;&nbsp; 18878973 |
| 3.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10892 | &nbsp;&nbsp; 10143268 |
| 4.00%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 15217 | &nbsp;&nbsp; 13868317 |
| 4.88%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 11891 | &nbsp;&nbsp; 11534270 |
| 5.75%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6717 | &nbsp;&nbsp; 6736278 |
| 5.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6600 | &nbsp;&nbsp; 6658476 |
| 5.88%, 03/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 10003 | &nbsp;&nbsp; 10003000 |
| 6.13%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 5069 | &nbsp;&nbsp; 5124556 |
| Hilton Grand Vacations Borrower <br> Escrow LLC/Hilton Grand Vacations <br> Borrower Esc<br>|  |  |
| 4.88%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 6698 | &nbsp;&nbsp; 5992265 |
| 5.00%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12345 | &nbsp;&nbsp; 11601214 |
| 6.63%, 01/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12722 | &nbsp;&nbsp; 12724544 |
| Hilton Worldwide Finance LLC/Hilton <br> Worldwide Finance Corp., 4.88%, <br> 04/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 7500 | &nbsp;&nbsp; 7430735 |
| Melco Resorts Finance Ltd. |  |  |
| 5.25%, 04/26/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 7188 | &nbsp;&nbsp; 7044096 |
| 5.38%, 12/04/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16293 | &nbsp;&nbsp; 14946004 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| 5.63%, 07/17/27<sup>(a)(b)</sup> | &nbsp;&nbsp; $8103 | &nbsp;&nbsp; $7859219 |
| 5.75%, 07/21/28<sup>(a)</sup> | &nbsp;&nbsp; 10962 | &nbsp;&nbsp; 10454569 |
| 7.63%, 04/17/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9818 | &nbsp;&nbsp; 9929925 |
| MGM China Holdings Ltd. |  |  |
| 4.75%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9471 | &nbsp;&nbsp; 9154969 |
| 5.88%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 10978 | &nbsp;&nbsp; 10918434 |
| 7.13%, 06/26/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7781 | &nbsp;&nbsp; 7906108 |
| MGM Resorts International |  |  |
| 4.63%, 09/01/26<sup>(b)</sup> | &nbsp;&nbsp; 4293 | &nbsp;&nbsp; 4246045 |
| 4.75%, 10/15/28<sup>(b)</sup> | &nbsp;&nbsp; 10511 | &nbsp;&nbsp; 10139173 |
| 5.50%, 04/15/27 | &nbsp;&nbsp; 9357 | &nbsp;&nbsp; 9337818 |
| 6.13%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 10610 | &nbsp;&nbsp; 10570213 |
| 6.50%, 04/15/32<sup>(b)</sup> | &nbsp;&nbsp; 10052 | &nbsp;&nbsp; 10052000 |
| Station Casinos LLC |  |  |
| 4.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9212 | &nbsp;&nbsp; 8795894 |
| 4.63%, 12/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6639 | &nbsp;&nbsp; 6033191 |
| 6.63%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6751 | &nbsp;&nbsp; 6773380 |
| Studio City Finance Ltd. |  |  |
| 5.00%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14322 | &nbsp;&nbsp; 12939641 |
| 6.50%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6742 | &nbsp;&nbsp; 6489175 |
| Travel & Leisure Co. |  |  |
| 4.50%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9208 | &nbsp;&nbsp; 8599266 |
| 6.00%, 04/01/27 | &nbsp;&nbsp; 5536 | &nbsp;&nbsp; 5589090 |
| 6.63%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp; 9441 | &nbsp;&nbsp; 9507748 |
| Wynn Macau Ltd. |  |  |
| 5.13%, 12/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13788 | &nbsp;&nbsp; 12790300 |
| 5.50%, 01/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 13619 | &nbsp;&nbsp; 13461020 |
| 5.50%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 10505 | &nbsp;&nbsp; 10175708 |
| 5.63%, 08/26/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 19290 | &nbsp;&nbsp; 18519364 |
|  |  | &nbsp;&nbsp; 386511921 |
| **Machinery — 0.6%** | **Machinery — 0.6%** | **Machinery — 0.6%** |
| Chart Industries Inc. |  |  |
| 7.50%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp; 20483 | &nbsp;&nbsp; 21279328 |
| 9.50%, 01/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7918 | &nbsp;&nbsp; 8503061 |
| Husky Injection Molding Systems Ltd./Titan <br> Co-Borrower LLC, 9.00%, 02/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13752 | &nbsp;&nbsp; 14150808 |
| Terex Corp. |  |  |
| 5.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9483 | &nbsp;&nbsp; 9116115 |
| 6.25%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7900 | &nbsp;&nbsp; 7866188 |
| TK Elevator Holdco GmbH, 7.63%, <br> 07/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6390 | &nbsp;&nbsp; 6420379 |
| TK Elevator U.S. Newco Inc., 5.25%, <br> 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 21183 | &nbsp;&nbsp; 20825607 |
|  |  | &nbsp;&nbsp; 88161486 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| FXI Holdings Inc. |  |  |
| 12.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 7829 | &nbsp;&nbsp; 7772436 |
| 12.25%, 11/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 12115 | &nbsp;&nbsp; 12023380 |
| Hillenbrand Inc., 6.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 6796 | &nbsp;&nbsp; 6830116 |
|  |  | &nbsp;&nbsp; 26625932 |
| **Media — 9.6%** | **Media — 9.6%** | **Media — 9.6%** |
| AMC Networks Inc. |  |  |
| 4.25%, 02/15/29<sup>(b)</sup> | &nbsp;&nbsp; 14487 | &nbsp;&nbsp; 10005736 |
| 10.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11579 | &nbsp;&nbsp; 11926370 |
| CCO Holdings LLC/CCO Holdings <br> Capital Corp.<br>|  |  |
| 4.25%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 40650 | &nbsp;&nbsp; 35263875 |
| 4.25%, 01/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 26967 | &nbsp;&nbsp; 21551056 |
| 4.50%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 37113 | &nbsp;&nbsp; 33135166 |
| 4.50%, 05/01/32 | &nbsp;&nbsp; 38006 | &nbsp;&nbsp; 32305100 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| 4.50%, 06/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; $23433 | &nbsp;&nbsp; $19518166 |
| 4.75%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 41719 | &nbsp;&nbsp; 37951774 |
| 4.75%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 16567 | &nbsp;&nbsp; 14379459 |
| 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 33566 | &nbsp;&nbsp; 32491888 |
| 5.13%, 05/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 44287 | &nbsp;&nbsp; 43354316 |
| 5.38%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 20432 | &nbsp;&nbsp; 19538100 |
| 5.50%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 9616 | &nbsp;&nbsp; 9588066 |
| 6.38%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 19945 | &nbsp;&nbsp; 19745550 |
| 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 14526 | &nbsp;&nbsp; 14762048 |
| CSC Holdings LLC |  |  |
| 3.38%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13447 | &nbsp;&nbsp; 9648596 |
| 4.13%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 14687 | &nbsp;&nbsp; 10835743 |
| 4.50%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 20616 | &nbsp;&nbsp; 15125934 |
| 4.63%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 31716 | &nbsp;&nbsp; 16016580 |
| 5.00%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6682 | &nbsp;&nbsp; 3257475 |
| 5.38%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 13051 | &nbsp;&nbsp; 11166109 |
| 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 18609 | &nbsp;&nbsp; 16562010 |
| 5.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 30242 | &nbsp;&nbsp; 15990458 |
| 6.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 23852 | &nbsp;&nbsp; 20169847 |
| 7.50%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 14119 | &nbsp;&nbsp; 9318540 |
| 11.25%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 13000 | &nbsp;&nbsp; 12675000 |
| 11.75%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 27460 | &nbsp;&nbsp; 26807863 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11343 | &nbsp;&nbsp; 11195298 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 49962 | &nbsp;&nbsp; 48150877 |
| DISH DBS Corp. |  |  |
| 5.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 36330 | &nbsp;&nbsp; 33605250 |
| 5.75%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 32228 | &nbsp;&nbsp; 28159215 |
| 7.38%, 07/01/28 | &nbsp;&nbsp; 12314 | &nbsp;&nbsp; 9020005 |
| 7.75%, 07/01/26 | &nbsp;&nbsp; 26744 | &nbsp;&nbsp; 22598680 |
| 5.13%, 06/01/29 | &nbsp;&nbsp; 18553 | &nbsp;&nbsp; 12328469 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 53603 | &nbsp;&nbsp; 56417157 |
| Gray Television Inc. |  |  |
| 4.75%, 10/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10620 | &nbsp;&nbsp; 6602985 |
| 5.38%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 17539 | &nbsp;&nbsp; 10757984 |
| 7.00%, 05/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 10029 | &nbsp;&nbsp; 9753621 |
| 10.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 16672 | &nbsp;&nbsp; 17318040 |
| iHeartCommunications Inc. |  |  |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9128 | &nbsp;&nbsp; 5595464 |
| 5.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 13590 | &nbsp;&nbsp; 9139275 |
| 6.38%, 05/01/26 | &nbsp;&nbsp; 14357 | &nbsp;&nbsp; 12067893 |
| 8.38%, 05/01/27 | &nbsp;&nbsp; 14442 | &nbsp;&nbsp; 7509844 |
| LCPR Senior Secured Financing DAC |  |  |
| 5.13%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10947 | &nbsp;&nbsp; 9202048 |
| 6.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 15404 | &nbsp;&nbsp; 14364692 |
| McGraw-Hill Education Inc. |  |  |
| 5.75%, 08/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 12267 | &nbsp;&nbsp; 12009270 |
| 7.38%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8593 | &nbsp;&nbsp; 8803700 |
| 8.00%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10244 | &nbsp;&nbsp; 10300893 |
| News Corp. |  |  |
| 3.88%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13705 | &nbsp;&nbsp; 12793618 |
| 5.13%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7691 | &nbsp;&nbsp; 7344785 |
| Nexstar Media Inc. |  |  |
| 4.75%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 14487 | &nbsp;&nbsp; 13607820 |
| 5.63%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 24045 | &nbsp;&nbsp; 23616698 |
| Paramount Global |  |  |
| 6.25%, 02/28/57, <br> (3-mo. LIBOR US + 3.899%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 9492 | &nbsp;&nbsp; 8464016 |
| 6.38%, 03/30/62, <br> (5-year CMT + 3.999%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 12808 | &nbsp;&nbsp; 11851803 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Radiate Holdco LLC/Radiate Finance Inc. |  |  |
| 4.50%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; $15195 | &nbsp;&nbsp; $13135622 |
| 6.50%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 16003 | &nbsp;&nbsp; 10959014 |
| Scripps Escrow II Inc., 3.88%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6466 | &nbsp;&nbsp; 5027315 |
| Scripps Escrow Inc., 5.88%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6391 | &nbsp;&nbsp; 5626349 |
| Sinclair Television Group Inc. |  |  |
| 4.13%, 12/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9543 | &nbsp;&nbsp; 7320912 |
| 5.50%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6740 | &nbsp;&nbsp; 4637659 |
| Sirius XM Radio Inc. |  |  |
| 3.13%, 09/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 12480 | &nbsp;&nbsp; 11966348 |
| 3.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 20476 | &nbsp;&nbsp; 17588094 |
| 4.00%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 27186 | &nbsp;&nbsp; 25429784 |
| 4.13%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 20009 | &nbsp;&nbsp; 17908055 |
| 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 21519 | &nbsp;&nbsp; 21064734 |
| 5.50%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 17564 | &nbsp;&nbsp; 17052888 |
| Sunrise FinCo I BV, 4.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 17999 | &nbsp;&nbsp; 16469085 |
| Sunrise HoldCo IV BV, 5.50%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7071 | &nbsp;&nbsp; 6982613 |
| TEGNA Inc. |  |  |
| 4.63%, 03/15/28<sup>(b)</sup> | &nbsp;&nbsp; 13636 | &nbsp;&nbsp; 12841567 |
| 4.75%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6346 | &nbsp;&nbsp; 6281373 |
| 5.00%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 14896 | &nbsp;&nbsp; 13910135 |
| Telenet Finance Luxembourg Notes SARL, <br> 5.50%, 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 13000 | &nbsp;&nbsp; 12691250 |
| Univision Communications Inc. |  |  |
| 4.50%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14022 | &nbsp;&nbsp; 12455556 |
| 6.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 18662 | &nbsp;&nbsp; 18518583 |
| 7.38%, 06/30/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11596 | &nbsp;&nbsp; 11120854 |
| 8.00%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 19819 | &nbsp;&nbsp; 20129366 |
| 8.50%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp; 16887 | &nbsp;&nbsp; 16596712 |
| Virgin Media Finance PLC, 5.00%, <br> 07/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 11508 | &nbsp;&nbsp; 9896880 |
| Virgin Media Secured Finance PLC |  |  |
| 4.50%, 08/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13582 | &nbsp;&nbsp; 11880147 |
| 5.50%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 21049 | &nbsp;&nbsp; 19898588 |
| Virgin Media Vendor Financing Notes IV DAC, <br> 5.00%, 07/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6233 | &nbsp;&nbsp; 5962917 |
| VZ Secured Financing BV, 5.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 21558 | &nbsp;&nbsp; 19340544 |
| Ziggo Bond Co. BV |  |  |
| 5.13%, 02/28/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6713 | &nbsp;&nbsp; 6067881 |
| 6.00%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5216 | &nbsp;&nbsp; 5199894 |
| Ziggo BV, 4.88%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 14314 | &nbsp;&nbsp; 13272370 |
|  |  | &nbsp;&nbsp; 1352903314 |
| **Mining — 1.1%** | **Mining — 1.1%** | **Mining — 1.1%** |
| Alcoa Nederland Holding BV |  |  |
| 4.13%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6400 | &nbsp;&nbsp; 6011844 |
| 5.50%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7783 | &nbsp;&nbsp; 7704314 |
| 6.13%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6327 | &nbsp;&nbsp; 6338705 |
| 7.13%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10167 | &nbsp;&nbsp; 10602961 |
| Arsenal AIC Parent LLC |  |  |
| 8.00%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9533 | &nbsp;&nbsp; 10032243 |
| 11.50%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8150 | &nbsp;&nbsp; 9074292 |
| Constellium SE, 3.75%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6804 | &nbsp;&nbsp; 6158931 |
| FMG Resources August 2006 Pty. Ltd. |  |  |
| 4.38%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; 20326 | &nbsp;&nbsp; 18514953 |
| 4.50%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 8460 | &nbsp;&nbsp; 8228839 |
| FMG Resources August Pty. Ltd. |  |  |
| 5.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9868 | &nbsp;&nbsp; 9794695 |
| 6.13%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10975 | &nbsp;&nbsp; 11016156 |
| Kaiser Aluminum Corp. |  |  |
| 4.50%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7355 | &nbsp;&nbsp; 6556983 |
| 4.63%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6349 | &nbsp;&nbsp; 6046529 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| Novelis Corp. |  |  |
| 3.25%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; $9462 | &nbsp;&nbsp; $9100336 |
| 3.88%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 9784 | &nbsp;&nbsp; 8589996 |
| 4.75%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; 21627 | &nbsp;&nbsp; 20267959 |
|  |  | &nbsp;&nbsp; 154039736 |
| **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** |
| Xerox Holdings Corp. |  |  |
| 5.50%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10857 | &nbsp;&nbsp; 8921740 |
| 8.88%, 11/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6891 | &nbsp;&nbsp; 5987294 |
|  |  | &nbsp;&nbsp; 14909034 |
| **Oil & Gas — 5.8%** | **Oil & Gas — 5.8%** | **Oil & Gas — 5.8%** |
| Aethon United BR LP/Aethon United Finance <br> Corp., 7.50%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 12280 | &nbsp;&nbsp; 12362522 |
| Antero Resources Corp. |  |  |
| 5.38%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7912 | &nbsp;&nbsp; 7680337 |
| 7.63%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5067 | &nbsp;&nbsp; 5193675 |
| Ascent Resources Utica Holdings LLC/ARU <br> Finance Corp.<br>|  |  |
| 5.88%, 06/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 5490 | &nbsp;&nbsp; 5292470 |
| 6.63%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6560 | &nbsp;&nbsp; 6495909 |
| 8.25%, 12/31/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6398 | &nbsp;&nbsp; 6519171 |
| Baytex Energy Corp. |  |  |
| 7.38%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7736 | &nbsp;&nbsp; 7496107 |
| 8.50%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; 11460 | &nbsp;&nbsp; 11661658 |
| California Resources Corp. |  |  |
| 7.13%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1957 | &nbsp;&nbsp; 1961403 |
| 8.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 12170 | &nbsp;&nbsp; 12291700 |
| CITGO Petroleum Corp. |  |  |
| 6.38%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 9643 | &nbsp;&nbsp; 9657728 |
| 7.00%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 19913 | &nbsp;&nbsp; 19933038 |
| 8.38%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 21518 | &nbsp;&nbsp; 22325140 |
| Civitas Resources Inc. |  |  |
| 5.00%, 10/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5080 | &nbsp;&nbsp; 4988625 |
| 8.38%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 18091 | &nbsp;&nbsp; 18701571 |
| 8.63%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp; 13386 | &nbsp;&nbsp; 14078565 |
| 8.75%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp; 18694 | &nbsp;&nbsp; 19581965 |
| CNX Resources Corp. |  |  |
| 6.00%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6324 | &nbsp;&nbsp; 6252548 |
| 7.25%, 03/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 4794 | &nbsp;&nbsp; 4928088 |
| 7.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6202 | &nbsp;&nbsp; 6360275 |
| Comstock Resources Inc. |  |  |
| 5.88%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12564 | &nbsp;&nbsp; 11455227 |
| 6.75%, 03/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15693 | &nbsp;&nbsp; 15026047 |
| 6.75%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5276 | &nbsp;&nbsp; 5059025 |
| Crescent Energy Finance LLC |  |  |
| 7.38%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 9863 | &nbsp;&nbsp; 9567110 |
| 7.63%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 9216 | &nbsp;&nbsp; 9100800 |
| 9.25%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13629 | &nbsp;&nbsp; 14250482 |
| CVR Energy Inc. |  |  |
| 5.75%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5646 | &nbsp;&nbsp; 5144918 |
| 8.50%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9121 | &nbsp;&nbsp; 8835193 |
| Encino Acquisition Partners Holdings LLC |  |  |
| 8.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8490 | &nbsp;&nbsp; 8534573 |
| 8.75%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7414 | &nbsp;&nbsp; 7616093 |
| Energian Israel Finance Ltd. |  |  |
| 4.88%, 03/30/26<sup>(a)(j)</sup> | &nbsp;&nbsp; 8048 | &nbsp;&nbsp; 7814645 |
| 5.38%, 03/30/28<sup>(a)(j)</sup> | &nbsp;&nbsp; 7845 | &nbsp;&nbsp; 7080113 |
| 5.88%, 03/30/31<sup>(a)(j)</sup> | &nbsp;&nbsp; 8302 | &nbsp;&nbsp; 7056707 |
| 8.50%, 09/30/33<sup>(a)(j)</sup> | &nbsp;&nbsp; 9520 | &nbsp;&nbsp; 9041025 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Expand Energy Corp. |  |  |
| 4.75%, 02/01/32 | &nbsp;&nbsp; $2736 | &nbsp;&nbsp; $2573564 |
| 5.38%, 03/15/30 | &nbsp;&nbsp; 6745 | &nbsp;&nbsp; 6631482 |
| 5.50%, 02/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 2046 | &nbsp;&nbsp; 2041437 |
| 6.75%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6061 | &nbsp;&nbsp; 6126822 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| 5.75%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8178 | &nbsp;&nbsp; 7833063 |
| 6.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 6516 | &nbsp;&nbsp; 6210530 |
| 6.00%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 8046 | &nbsp;&nbsp; 7589725 |
| 6.25%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 7855 | &nbsp;&nbsp; 7695936 |
| 6.25%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7229 | &nbsp;&nbsp; 6783170 |
| 6.88%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp; 6890 | &nbsp;&nbsp; 6591523 |
| 7.25%, 02/15/35<sup>(a)</sup> | &nbsp;&nbsp; 12710 | &nbsp;&nbsp; 12465714 |
| 8.38%, 11/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 7923 | &nbsp;&nbsp; 8283734 |
| Leviathan Bond Ltd. |  |  |
| 6.50%, 06/30/27<sup>(a)</sup> | &nbsp;&nbsp; 7989 | &nbsp;&nbsp; 7570171 |
| 6.75%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp; 7217 | &nbsp;&nbsp; 6612313 |
| Matador Resources Co. |  |  |
| 6.25%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 10688 | &nbsp;&nbsp; 10468896 |
| 6.50%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12470 | &nbsp;&nbsp; 12368370 |
| 6.88%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6302 | &nbsp;&nbsp; 6413376 |
| Murphy Oil Corp., 6.00%, 10/01/32<sup>(b)</sup> | &nbsp;&nbsp; 4125 | &nbsp;&nbsp; 3969694 |
| Nabors Industries Inc. |  |  |
| 7.38%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9016 | &nbsp;&nbsp; 9016000 |
| 8.88%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7874 | &nbsp;&nbsp; 7440930 |
| 9.13%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8778 | &nbsp;&nbsp; 9073160 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 18845 | &nbsp;&nbsp; 19104119 |
| Northern Oil & Gas Inc. |  |  |
| 8.13%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8633 | &nbsp;&nbsp; 8713968 |
| 8.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 7783 | &nbsp;&nbsp; 8055405 |
| Parkland Corp. |  |  |
| 4.50%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10654 | &nbsp;&nbsp; 9903319 |
| 4.63%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10801 | &nbsp;&nbsp; 9908041 |
| 5.88%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 5877 | &nbsp;&nbsp; 5815820 |
| 6.63%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 6341 | &nbsp;&nbsp; 6325544 |
| PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| 6.00%, 02/15/28 | &nbsp;&nbsp; 11077 | &nbsp;&nbsp; 10758536 |
| 7.88%, 09/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6595 | &nbsp;&nbsp; 6578513 |
| Permian Resources Operating LLC |  |  |
| 5.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9621 | &nbsp;&nbsp; 9474771 |
| 6.25%, 02/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 13670 | &nbsp;&nbsp; 13563709 |
| 7.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 13434 | &nbsp;&nbsp; 13702680 |
| 8.00%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7411 | &nbsp;&nbsp; 7605657 |
| 9.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6192 | &nbsp;&nbsp; 6835968 |
| Range Resources Corp. |  |  |
| 4.75%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6778 | &nbsp;&nbsp; 6375793 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 5832 | &nbsp;&nbsp; 6011042 |
| SM Energy Co. |  |  |
| 6.50%, 07/15/28 | &nbsp;&nbsp; 5114 | &nbsp;&nbsp; 5095487 |
| 6.63%, 01/15/27<sup>(b)</sup> | &nbsp;&nbsp; 4851 | &nbsp;&nbsp; 4847443 |
| 6.75%, 09/15/26 | &nbsp;&nbsp; 5123 | &nbsp;&nbsp; 5141853 |
| 6.75%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10395 | &nbsp;&nbsp; 10319117 |
| 7.00%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10198 | &nbsp;&nbsp; 10090513 |
| Sunoco LP |  |  |
| 7.00%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10006 | &nbsp;&nbsp; 10313059 |
| 7.25%, 05/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9353 | &nbsp;&nbsp; 9736524 |
| Sunoco LP/Sunoco Finance Corp. |  |  |
| 4.50%, 05/15/29 | &nbsp;&nbsp; 11159 | &nbsp;&nbsp; 10600413 |
| 4.50%, 04/30/30<sup>(b)</sup> | &nbsp;&nbsp; 11013 | &nbsp;&nbsp; 10324164 |
| 5.88%, 03/15/28 | &nbsp;&nbsp; 4618 | &nbsp;&nbsp; 4596619 |
| 6.00%, 04/15/27 | &nbsp;&nbsp; 5763 | &nbsp;&nbsp; 5774584 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| 7.00%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; $6812 | &nbsp;&nbsp; $6987827 |
| Talos Production Inc. |  |  |
| 9.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8678 | &nbsp;&nbsp; 8930148 |
| 9.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 7966 | &nbsp;&nbsp; 8196078 |
| Transocean Inc. |  |  |
| 8.00%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6921 | &nbsp;&nbsp; 6903698 |
| 8.25%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12720 | &nbsp;&nbsp; 12799500 |
| 8.50%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 12584 | &nbsp;&nbsp; 12678380 |
| 8.75%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12508 | &nbsp;&nbsp; 12989298 |
| Transocean Titan Financing Ltd., 8.38%, <br> 02/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 7408 | &nbsp;&nbsp; 7631101 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp; 14865 | &nbsp;&nbsp; 15077272 |
| Vital Energy Inc., 7.88%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 12846 | &nbsp;&nbsp; 12337041 |
|  |  | &nbsp;&nbsp; 823207067 |
| **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** |
| Archrock Partners LP/Archrock Partners <br> Finance Corp.<br>|  |  |
| 6.25%, 04/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 11521 | &nbsp;&nbsp; 11541968 |
| 6.63%, 09/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 9267 | &nbsp;&nbsp; 9309628 |
| 6.88%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1526 | &nbsp;&nbsp; 1529815 |
| USA Compression Partners LP/USA <br> Compression Finance Corp.<br>|  |  |
| 6.88%, 09/01/27 | &nbsp;&nbsp; 11098 | &nbsp;&nbsp; 11130517 |
| 7.13%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13439 | &nbsp;&nbsp; 13671942 |
| Weatherford International Ltd., 8.63%, <br> 04/30/30<sup>(a)</sup><br>| &nbsp;&nbsp; 22107 | &nbsp;&nbsp; 22853112 |
|  |  | &nbsp;&nbsp; 70036982 |
| **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** |
| Ardagh Metal Packaging Finance <br> USA LLC/Ardagh Metal Packaging <br> Finance PLC<br>|  |  |
| 3.25%, 09/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6855 | &nbsp;&nbsp; 6173750 |
| 4.00%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13185 | &nbsp;&nbsp; 11573793 |
| 6.00%, 06/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7590 | &nbsp;&nbsp; 7574106 |
| Ardagh Packaging Finance PLC/Ardagh <br> Holdings USA Inc.<br>|  |  |
| 4.13%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 17613 | &nbsp;&nbsp; 15323310 |
| 5.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 27047 | &nbsp;&nbsp; 16246894 |
| Ball Corp. |  |  |
| 2.88%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp; 17445 | &nbsp;&nbsp; 15139352 |
| 3.13%, 09/15/31<sup>(b)</sup> | &nbsp;&nbsp; 11225 | &nbsp;&nbsp; 9714115 |
| 6.00%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 12246 | &nbsp;&nbsp; 12432139 |
| 6.88%, 03/15/28 | &nbsp;&nbsp; 7489 | &nbsp;&nbsp; 7693877 |
| Berry Global Inc., 5.63%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 3447 | &nbsp;&nbsp; 3443651 |
| Clydesdale Acquisition Holdings Inc. |  |  |
| 6.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5807 | &nbsp;&nbsp; 5825234 |
| 6.88%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7257 | &nbsp;&nbsp; 7358507 |
| 8.75%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14718 | &nbsp;&nbsp; 14937114 |
| Crown Americas LLC, 5.25%, 04/01/30<sup>(b)</sup> | &nbsp;&nbsp; 6763 | &nbsp;&nbsp; 6645493 |
| Crown Americas LLC/Crown Americas Capital <br> Corp. V, 4.25%, 09/30/26<sup>(b)</sup><br>| &nbsp;&nbsp; 5346 | &nbsp;&nbsp; 5234099 |
| Crown Americas LLC/Crown Americas Capital <br> Corp. VI, 4.75%, 02/01/26<br>| &nbsp;&nbsp; 8159 | &nbsp;&nbsp; 8104661 |
| Graphic Packaging International LLC |  |  |
| 3.50%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5981 | &nbsp;&nbsp; 5579017 |
| 3.75%, 02/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5080 | &nbsp;&nbsp; 4646321 |
| 6.38%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6965 | &nbsp;&nbsp; 7025944 |
| LABL Inc. |  |  |
| 5.88%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6605 | &nbsp;&nbsp; 6111965 |
| 8.25%, 11/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6049 | &nbsp;&nbsp; 5325941 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| 8.63%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; $14570 | &nbsp;&nbsp; $14045480 |
| 10.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9439 | &nbsp;&nbsp; 9344610 |
| Mauser Packaging Solutions Holding Co. |  |  |
| 7.88%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 36430 | &nbsp;&nbsp; 37431825 |
| 9.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 19551 | &nbsp;&nbsp; 20003117 |
| OI European Group BV, 4.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5041 | &nbsp;&nbsp; 4570927 |
| Owens-Brockway Glass Container Inc. |  |  |
| 6.63%, 05/13/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7496 | &nbsp;&nbsp; 7457920 |
| 7.25%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8416 | &nbsp;&nbsp; 8295231 |
| Pactiv Evergreen Group Issuer Inc./Pactiv <br> Evergreen Group Issuer LLC, 4.00%, <br> 10/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 13278 | &nbsp;&nbsp; 12691909 |
| Pactiv Evergreen Group Issuer LLC/Pactiv <br> Evergreen Group Issuer Inc., 4.38%, <br> 10/15/28<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 6894 | &nbsp;&nbsp; 6480360 |
| Sealed Air Corp. |  |  |
| 4.00%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5393 | &nbsp;&nbsp; 5162503 |
| 5.00%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6417 | &nbsp;&nbsp; 6197853 |
| 6.50%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 5368 | &nbsp;&nbsp; 5420338 |
| Sealed Air Corp./Sealed Air Corp. U.S. |  |  |
| 6.13%, 02/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7933 | &nbsp;&nbsp; 8019866 |
| 7.25%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5582 | &nbsp;&nbsp; 5780384 |
| Silgan Holdings Inc., 4.13%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 7627 | &nbsp;&nbsp; 7274251 |
| Trivium Packaging Finance BV |  |  |
| 5.50%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 15153 | &nbsp;&nbsp; 15020411 |
| 8.50%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 10329 | &nbsp;&nbsp; 10310231 |
|  |  | &nbsp;&nbsp; 365616499 |
| **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** |
| AdaptHealth LLC |  |  |
| 4.63%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 6325 | &nbsp;&nbsp; 5743609 |
| 5.13%, 03/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8035 | &nbsp;&nbsp; 7366850 |
| Bausch Health Americas Inc. |  |  |
| 8.50%, 01/31/27<sup>(a)</sup> | &nbsp;&nbsp; 8899 | &nbsp;&nbsp; 7141447 |
| 9.25%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 9785 | &nbsp;&nbsp; 9466987 |
| Bausch Health Companies Inc. |  |  |
| 4.88%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 20607 | &nbsp;&nbsp; 15918907 |
| 5.00%, 01/30/28<sup>(a)</sup> | &nbsp;&nbsp; 5660 | &nbsp;&nbsp; 3622400 |
| 5.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5456 | &nbsp;&nbsp; 3126288 |
| 5.25%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp; 10833 | &nbsp;&nbsp; 6061064 |
| 5.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 5971 | &nbsp;&nbsp; 3216876 |
| 5.50%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 23917 | &nbsp;&nbsp; 23468556 |
| 5.75%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6933 | &nbsp;&nbsp; 5743124 |
| 6.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 13473 | &nbsp;&nbsp; 12125700 |
| 6.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10567 | &nbsp;&nbsp; 6577958 |
| 9.00%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 7685 | &nbsp;&nbsp; 7535450 |
| 11.00%, 09/30/28<sup>(a)</sup> | &nbsp;&nbsp; 23852 | &nbsp;&nbsp; 21952040 |
| Endo Finance Holdings Inc., 8.50%, <br> 04/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 14139 | &nbsp;&nbsp; 15118550 |
| HLF Financing SARL LLC/Herbalife <br> International Inc.<br>|  |  |
| 4.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8304 | &nbsp;&nbsp; 5688240 |
| 12.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11032 | &nbsp;&nbsp; 11100950 |
| Jazz Securities DAC, 4.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 21927 | &nbsp;&nbsp; 20729128 |
| Organon & Co./Organon Foreign Debt <br> Co-Issuer BV<br>|  |  |
| 4.13%, 04/30/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 28728 | &nbsp;&nbsp; 27238669 |
| 5.13%, 04/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 26534 | &nbsp;&nbsp; 24179107 |
| 6.75%, 05/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 6608 | &nbsp;&nbsp; 6626222 |
| 7.88%, 05/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 6984 | &nbsp;&nbsp; 7210252 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Owens & Minor Inc. |  |  |
| 4.50%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; $7278 | &nbsp;&nbsp; $6532233 |
| 6.63%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 7298 | &nbsp;&nbsp; 6949521 |
| Teva Pharmaceutical Finance Netherlands <br> III BV<br>|  |  |
| 3.15%, 10/01/26<sup>(b)</sup> | &nbsp;&nbsp; 45868 | &nbsp;&nbsp; 43689270 |
| 4.75%, 05/09/27 | &nbsp;&nbsp; 13984 | &nbsp;&nbsp; 13591224 |
| 5.13%, 05/09/29<sup>(b)</sup> | &nbsp;&nbsp; 12857 | &nbsp;&nbsp; 12424683 |
| 6.75%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 17142 | &nbsp;&nbsp; 17506396 |
| 7.88%, 09/15/29 | &nbsp;&nbsp; 7643 | &nbsp;&nbsp; 8238695 |
| 8.13%, 09/15/31<sup>(b)</sup> | &nbsp;&nbsp; 7766 | &nbsp;&nbsp; 8676486 |
|  |  | &nbsp;&nbsp; 374566882 |
| **Pipelines — 5.6%** | **Pipelines — 5.6%** | **Pipelines — 5.6%** |
| Antero Midstream Partners LP/Antero <br> Midstream Finance Corp.<br>|  |  |
| 5.38%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9907 | &nbsp;&nbsp; 9674086 |
| 5.75%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 6376 | &nbsp;&nbsp; 6355278 |
| 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6825 | &nbsp;&nbsp; 6790875 |
| 6.63%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8418 | &nbsp;&nbsp; 8485260 |
| Blue Racer Midstream LLC/Blue Racer <br> Finance Corp.<br>|  |  |
| 7.00%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7111 | &nbsp;&nbsp; 7300350 |
| 7.25%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7081 | &nbsp;&nbsp; 7300511 |
| Buckeye Partners LP |  |  |
| 3.95%, 12/01/26 | &nbsp;&nbsp; 7694 | &nbsp;&nbsp; 7397627 |
| 4.13%, 12/01/27<sup>(b)</sup> | &nbsp;&nbsp; 5639 | &nbsp;&nbsp; 5397031 |
| 4.50%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6385 | &nbsp;&nbsp; 6075328 |
| 6.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8374 | &nbsp;&nbsp; 8521359 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC |  |  |
| 5.50%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 18383 | &nbsp;&nbsp; 17476106 |
| 7.50%, 12/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 7306 | &nbsp;&nbsp; 7716073 |
| Delek Logistics Partners LP/Delek Logistics <br> Finance Corp.<br>|  |  |
| 7.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6134 | &nbsp;&nbsp; 6073151 |
| 8.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 14042 | &nbsp;&nbsp; 14384484 |
| DT Midstream Inc. |  |  |
| 4.13%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 15437 | &nbsp;&nbsp; 14508079 |
| 4.38%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13502 | &nbsp;&nbsp; 12416496 |
| Energy Transfer LP |  |  |
| 7.13%, 10/01/54, <br> (5-year CMT + 2.829%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 5053 | &nbsp;&nbsp; 5107067 |
| 8.00%, 05/15/54, <br> (5-year CMT + 4.020%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 10794 | &nbsp;&nbsp; 11399220 |
| EQM Midstream Partners LP |  |  |
| 4.13%, 12/01/26 | &nbsp;&nbsp; 4885 | &nbsp;&nbsp; 4775469 |
| 4.50%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10914 | &nbsp;&nbsp; 10503961 |
| 4.75%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 15047 | &nbsp;&nbsp; 14308945 |
| 5.50%, 07/15/28 | &nbsp;&nbsp; 10978 | &nbsp;&nbsp; 10929697 |
| 6.38%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7360 | &nbsp;&nbsp; 7459360 |
| 6.50%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 11683 | &nbsp;&nbsp; 11946247 |
| 7.50%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 6164 | &nbsp;&nbsp; 6298067 |
| 7.50%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6801 | &nbsp;&nbsp; 7311321 |
| Genesis Energy LP/Genesis Energy <br> Finance Corp.<br>|  |  |
| 7.75%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 9144 | &nbsp;&nbsp; 9235440 |
| 7.88%, 05/15/32 | &nbsp;&nbsp; 9061 | &nbsp;&nbsp; 9037894 |
| 8.00%, 01/15/27 | &nbsp;&nbsp; 12421 | &nbsp;&nbsp; 12636194 |
| 8.25%, 01/15/29 | &nbsp;&nbsp; 6837 | &nbsp;&nbsp; 6970321 |
| 8.88%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 6647 | &nbsp;&nbsp; 6859081 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Global Partners LP/GLP Finance Corp. |  |  |
| 7.00%, 08/01/27 | &nbsp;&nbsp; $7582 | &nbsp;&nbsp; $7602468 |
| 8.25%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 5342 | &nbsp;&nbsp; 5438263 |
| Harvest Midstream I LP |  |  |
| 7.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 10775 | &nbsp;&nbsp; 10882750 |
| 7.50%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7446 | &nbsp;&nbsp; 7615164 |
| Hess Midstream Operations LP |  |  |
| 4.25%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10259 | &nbsp;&nbsp; 9570159 |
| 5.13%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7678 | &nbsp;&nbsp; 7505725 |
| 5.50%, 10/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5165 | &nbsp;&nbsp; 5042676 |
| 5.63%, 02/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 5444 | &nbsp;&nbsp; 5432357 |
| 6.50%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7998 | &nbsp;&nbsp; 8106773 |
| Howard Midstream Energy Partners LLC |  |  |
| 7.38%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9042 | &nbsp;&nbsp; 9217867 |
| 8.88%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 6777 | &nbsp;&nbsp; 7151090 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 17174 | &nbsp;&nbsp; 15874143 |
| Kinetik Holdings LP |  |  |
| 5.88%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 14596 | &nbsp;&nbsp; 14478812 |
| 6.63%, 12/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10837 | &nbsp;&nbsp; 11064973 |
| New Fortress Energy Inc. |  |  |
| 6.50%, 09/30/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 23565 | &nbsp;&nbsp; 21822368 |
| 6.75%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 12494 | &nbsp;&nbsp; 12464420 |
| 8.75%, 03/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11810 | &nbsp;&nbsp; 9808943 |
| NGL Energy Operating LLC/NGL Energy <br> Finance Corp.<br>|  |  |
| 8.13%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12041 | &nbsp;&nbsp; 12118544 |
| 8.38%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 18386 | &nbsp;&nbsp; 18569860 |
| NuStar Logistics LP |  |  |
| 5.63%, 04/28/27<sup>(b)</sup> | &nbsp;&nbsp; 7631 | &nbsp;&nbsp; 7572608 |
| 5.75%, 10/01/25 | &nbsp;&nbsp; 4480 | &nbsp;&nbsp; 4473056 |
| 6.00%, 06/01/26 | &nbsp;&nbsp; 6811 | &nbsp;&nbsp; 6810796 |
| 6.38%, 10/01/30<sup>(b)</sup> | &nbsp;&nbsp; 7884 | &nbsp;&nbsp; 7940055 |
| Rockies Express Pipeline LLC, 4.95%, <br> 07/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 7827 | &nbsp;&nbsp; 7326724 |
| South Bow Canadian Infrastructure <br> Holdings Ltd.<br>|  |  |
| 7.50%, 03/01/55, <br> (5-year CMT + 3.667%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 8504 | &nbsp;&nbsp; 8833254 |
| 7.63%, 03/01/55, <br> (5-year CMT + 3.949%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 6581 | &nbsp;&nbsp; 6770204 |
| Tallgrass Energy Partners LP/Tallgrass <br> Energy Finance Corp.<br>|  |  |
| 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9883 | &nbsp;&nbsp; 9484715 |
| 6.00%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5969 | &nbsp;&nbsp; 5918264 |
| 6.00%, 12/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10649 | &nbsp;&nbsp; 9987697 |
| 6.00%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6376 | &nbsp;&nbsp; 5900414 |
| 7.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10770 | &nbsp;&nbsp; 10795691 |
| Venture Global Calcasieu Pass LLC |  |  |
| 3.88%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp; 17330 | &nbsp;&nbsp; 15008300 |
| 6.25%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13566 | &nbsp;&nbsp; 13835692 |
| 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 15985 | &nbsp;&nbsp; 14726181 |
| 4.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 16940 | &nbsp;&nbsp; 15424820 |
| Venture Global LNG Inc. |  |  |
| 7.00%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 20204 | &nbsp;&nbsp; 20330275 |
| 8.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 31001 | &nbsp;&nbsp; 32153205 |
| 8.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 30479 | &nbsp;&nbsp; 31660061 |
| 9.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 41122 | &nbsp;&nbsp; 45499437 |
| 9.88%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 27420 | &nbsp;&nbsp; 29922075 |
|  |  | &nbsp;&nbsp; 790791257 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** |
| Anywhere Real Estate Group LLC/Anywhere <br> Co-Issuer Corp., 7.00%, 04/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; $8724 | &nbsp;&nbsp; $7635943 |
| Anywhere Real Estate Group LLC/Realogy <br> Co-Issuer Corp.<br>|  |  |
| 5.25%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6271 | &nbsp;&nbsp; 4781638 |
| 5.75%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8550 | &nbsp;&nbsp; 6969532 |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| 6.75%, 05/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9611 | &nbsp;&nbsp; 9659055 |
| 8.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 5141 | &nbsp;&nbsp; 5530660 |
| Howard Hughes Corp. (The) |  |  |
| 4.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8592 | &nbsp;&nbsp; 7912788 |
| 4.38%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8078 | &nbsp;&nbsp; 7239665 |
| 5.38%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp; 10276 | &nbsp;&nbsp; 9983545 |
| Kennedy-Wilson Inc. |  |  |
| 4.75%, 03/01/29 | &nbsp;&nbsp; 8121 | &nbsp;&nbsp; 7471320 |
| 4.75%, 02/01/30<sup>(b)</sup> | &nbsp;&nbsp; 7558 | &nbsp;&nbsp; 6728434 |
| 5.00%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp; 8203 | &nbsp;&nbsp; 7252939 |
|  |  | &nbsp;&nbsp; 81165519 |
| **Real Estate Investment Trusts — 3.5%** | **Real Estate Investment Trusts — 3.5%** | **Real Estate Investment Trusts — 3.5%** |
| Brandywine Operating Partnership LP |  |  |
| 3.95%, 11/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6104 | &nbsp;&nbsp; 5737760 |
| 8.88%, 04/12/29<sup>(b)</sup> | &nbsp;&nbsp; 6129 | &nbsp;&nbsp; 6615633 |
| Brookfield Property REIT Inc./BPR <br> Cumulus LLC/BPR Nimbus LLC/GGSI <br> Sellco LLC<br>|  |  |
| 4.50%, 04/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 9827 | &nbsp;&nbsp; 9470771 |
| 5.75%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 11972 | &nbsp;&nbsp; 11843660 |
| Diversified Healthcare Trust |  |  |
| 4.38%, 03/01/31 | &nbsp;&nbsp; 6692 | &nbsp;&nbsp; 5418308 |
| 4.75%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; 6610 | &nbsp;&nbsp; 5858582 |
| Hudson Pacific Properties LP |  |  |
| 3.25%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 6133 | &nbsp;&nbsp; 4446425 |
| 3.95%, 11/01/27<sup>(b)</sup> | &nbsp;&nbsp; 5575 | &nbsp;&nbsp; 4973597 |
| 4.65%, 04/01/29<sup>(b)</sup> | &nbsp;&nbsp; 6097 | &nbsp;&nbsp; 4866077 |
| Iron Mountain Inc. |  |  |
| 4.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13649 | &nbsp;&nbsp; 12698688 |
| 4.88%, 09/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 12379 | &nbsp;&nbsp; 12159300 |
| 4.88%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13391 | &nbsp;&nbsp; 12867850 |
| 5.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5815 | &nbsp;&nbsp; 5663316 |
| 5.25%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10254 | &nbsp;&nbsp; 10067890 |
| 5.25%, 07/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 17741 | &nbsp;&nbsp; 17167256 |
| 5.63%, 07/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8257 | &nbsp;&nbsp; 8026622 |
| 7.00%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12848 | &nbsp;&nbsp; 13207798 |
| Iron Mountain Information Management <br> Services Inc., 5.00%, 07/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10190 | &nbsp;&nbsp; 9604075 |
| Ladder Capital Finance <br> Holdings LLLP/Ladder Capital <br> Finance Corp.<br>|  |  |
| 4.25%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 8620 | &nbsp;&nbsp; 8350625 |
| 4.75%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9754 | &nbsp;&nbsp; 9302877 |
| 7.00%, 07/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6783 | &nbsp;&nbsp; 7050505 |
| MPT Operating Partnership LP/MPT <br> Finance Corp.<br>|  |  |
| 3.50%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 17003 | &nbsp;&nbsp; 12050876 |
| 4.63%, 08/01/29<sup>(b)</sup> | &nbsp;&nbsp; 12020 | &nbsp;&nbsp; 9315500 |
| 5.00%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 17809 | &nbsp;&nbsp; 15710922 |
| 5.25%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 7390 | &nbsp;&nbsp; 7019576 |
| Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer<br>|  |  |
| 4.88%, 05/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9653 | &nbsp;&nbsp; 9181958 |
| 5.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 9385 | &nbsp;&nbsp; 9270425 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 7.00%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; $7400 | &nbsp;&nbsp; $7565884 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| 4.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7876 | &nbsp;&nbsp; 7528345 |
| 4.75%, 10/15/27<sup>(b)</sup> | &nbsp;&nbsp; 8595 | &nbsp;&nbsp; 8413884 |
| 6.50%, 04/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 13779 | &nbsp;&nbsp; 13937734 |
| 7.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4873 | &nbsp;&nbsp; 5042946 |
| Rithm Capital Corp., 8.00%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2063 | &nbsp;&nbsp; 2058042 |
| RLJ Lodging Trust LP |  |  |
| 3.75%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp; 6682 | &nbsp;&nbsp; 6454678 |
| 4.00%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7327 | &nbsp;&nbsp; 6601261 |
| SBA Communications Corp. |  |  |
| 3.13%, 02/01/29<sup>(b)</sup> | &nbsp;&nbsp; 22167 | &nbsp;&nbsp; 20171970 |
| 3.88%, 02/15/27 | &nbsp;&nbsp; 18445 | &nbsp;&nbsp; 17854944 |
| Service Properties Trust |  |  |
| 3.95%, 01/15/28<sup>(b)</sup> | &nbsp;&nbsp; 5539 | &nbsp;&nbsp; 4749693 |
| 4.38%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 5518 | &nbsp;&nbsp; 4153996 |
| 4.75%, 10/01/26 | &nbsp;&nbsp; 6114 | &nbsp;&nbsp; 5757393 |
| 4.95%, 02/15/27<sup>(b)</sup> | &nbsp;&nbsp; 5455 | &nbsp;&nbsp; 5076928 |
| 4.95%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 6079 | &nbsp;&nbsp; 4848002 |
| 5.50%, 12/15/27<sup>(b)</sup> | &nbsp;&nbsp; 6783 | &nbsp;&nbsp; 6392412 |
| 8.38%, 06/15/29 | &nbsp;&nbsp; 9363 | &nbsp;&nbsp; 9127146 |
| 8.63%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13271 | &nbsp;&nbsp; 13946900 |
| 8.88%, 06/15/32<sup>(b)</sup> | &nbsp;&nbsp; 7067 | &nbsp;&nbsp; 6549342 |
| Starwood Property Trust Inc. |  |  |
| 3.63%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5307 | &nbsp;&nbsp; 5087472 |
| 4.38%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 6616 | &nbsp;&nbsp; 6374358 |
| 6.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 4900 | &nbsp;&nbsp; 4792812 |
| 7.25%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9168 | &nbsp;&nbsp; 9421954 |
| Uniti Group LP/Uniti Fiber Holdings Inc./CSL <br> Capital LLC, 6.00%, 01/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9885 | &nbsp;&nbsp; 8283630 |
| Uniti Group LP/Uniti Group Finance 2019 <br> Inc./CSL Capital LLC<br>|  |  |
| 4.75%, 04/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 7524 | &nbsp;&nbsp; 6893865 |
| 6.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 14865 | &nbsp;&nbsp; 12792819 |
| 10.50%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 38905 | &nbsp;&nbsp; 41432942 |
| XHR LP, 6.38%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 630 | &nbsp;&nbsp; 630274 |
|  |  | &nbsp;&nbsp; 499888498 |
| **Retail — 4.7%** | **Retail — 4.7%** | **Retail — 4.7%** |
| 1011778 BC ULC/New Red Finance Inc. |  |  |
| 3.50%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8604 | &nbsp;&nbsp; 7950526 |
| 3.88%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 19567 | &nbsp;&nbsp; 18637274 |
| 4.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 38596 | &nbsp;&nbsp; 34900433 |
| 4.38%, 01/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 8445 | &nbsp;&nbsp; 8113546 |
| 5.63%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5040 | &nbsp;&nbsp; 5027400 |
| Advance Auto Parts Inc., 3.90%, 04/15/30<sup>(b)</sup> | &nbsp;&nbsp; 6405 | &nbsp;&nbsp; 5695646 |
| Asbury Automotive Group Inc. |  |  |
| 4.50%, 03/01/28<sup>(b)</sup> | &nbsp;&nbsp; 5990 | &nbsp;&nbsp; 5772204 |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10852 | &nbsp;&nbsp; 10158232 |
| 4.75%, 03/01/30<sup>(b)</sup> | &nbsp;&nbsp; 5659 | &nbsp;&nbsp; 5320269 |
| 5.00%, 02/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 8207 | &nbsp;&nbsp; 7575851 |
| Bath & Body Works Inc. |  |  |
| 5.25%, 02/01/28<sup>(b)</sup> | &nbsp;&nbsp; 5661 | &nbsp;&nbsp; 5584010 |
| 6.63%, 10/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13458 | &nbsp;&nbsp; 13483444 |
| 7.50%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 8157 | &nbsp;&nbsp; 8411906 |
| BCPE Ulysses Intermediate Inc., 7.75%, <br> 04/01/27, (7.75% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 5307 | &nbsp;&nbsp; 5169966 |
| Beacon Roofing Supply Inc., 6.50%, <br> 08/01/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 7633 | &nbsp;&nbsp; 7761807 |
| Carvana Co. |  |  |
| 12.00%, 12/01/28, (12.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 14103 | &nbsp;&nbsp; 14911038 |
| 13.00%, 06/01/30, (13.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp; 21177 | &nbsp;&nbsp; 23065624 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| 14.00%, 06/01/31, (14.00% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; $23495 | &nbsp;&nbsp; $27958955 |
| eG Global Finance PLC, 12.00%, 11/30/28<sup>(a)</sup> | &nbsp;&nbsp; 15265 | &nbsp;&nbsp; 16942878 |
| Ferrellgas LP/Ferrellgas Finance Corp. |  |  |
| 5.38%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 7851 | &nbsp;&nbsp; 7790233 |
| 5.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11580 | &nbsp;&nbsp; 10783875 |
| Fertitta Entertainment LLC/Fertitta <br> Entertainment Finance Co. Inc.<br>|  |  |
| 4.63%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 12958 | &nbsp;&nbsp; 12099533 |
| 6.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 16565 | &nbsp;&nbsp; 15053444 |
| FirstCash Inc. |  |  |
| 4.63%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6056 | &nbsp;&nbsp; 5732004 |
| 5.63%, 01/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 8425 | &nbsp;&nbsp; 8162140 |
| 6.88%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp; 7010 | &nbsp;&nbsp; 7063159 |
| Gap Inc. (The) |  |  |
| 3.63%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10578 | &nbsp;&nbsp; 9493755 |
| 3.88%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10411 | &nbsp;&nbsp; 8924309 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. |  |  |
| 8.38%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 7618 | &nbsp;&nbsp; 7132267 |
| 8.75%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7139 | &nbsp;&nbsp; 6511041 |
| Group 1 Automotive Inc. |  |  |
| 4.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10073 | &nbsp;&nbsp; 9425105 |
| 6.38%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6403 | &nbsp;&nbsp; 6435015 |
| KFC Holding Co./Pizza Hut <br> Holdings LLC/Taco Bell of America LLC, <br> 4.75%, 06/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8562 | &nbsp;&nbsp; 8458849 |
| LBM Acquisition LLC, 6.25%, 01/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 11493 | &nbsp;&nbsp; 10592638 |
| LCM Investments Holdings II LLC |  |  |
| 4.88%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 12491 | &nbsp;&nbsp; 11803995 |
| 8.25%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp; 11314 | &nbsp;&nbsp; 11832634 |
| Lithia Motors Inc. |  |  |
| 3.88%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 10849 | &nbsp;&nbsp; 9970231 |
| 4.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7447 | &nbsp;&nbsp; 6800042 |
| 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4992 | &nbsp;&nbsp; 4843004 |
| Macy's Retail Holdings LLC |  |  |
| 5.88%, 04/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2691 | &nbsp;&nbsp; 2627139 |
| 5.88%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 6459 | &nbsp;&nbsp; 6229726 |
| 6.13%, 03/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 6308 | &nbsp;&nbsp; 6013949 |
| Michaels Companies Inc. (The) |  |  |
| 5.25%, 05/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 10805 | &nbsp;&nbsp; 7763590 |
| 7.88%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 18457 | &nbsp;&nbsp; 9799897 |
| Murphy Oil USA Inc. |  |  |
| 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6465 | &nbsp;&nbsp; 5738140 |
| 4.75%, 09/15/29<sup>(b)</sup> | &nbsp;&nbsp; 7729 | &nbsp;&nbsp; 7388988 |
| NMG Holding Co. Inc./Neiman Marcus <br> Group LLC, 8.50%, 04/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 18372 | &nbsp;&nbsp; 18656766 |
| Nordstrom Inc. |  |  |
| 4.25%, 08/01/31<sup>(b)</sup> | &nbsp;&nbsp; 5725 | &nbsp;&nbsp; 5050595 |
| 4.38%, 04/01/30<sup>(b)</sup> | &nbsp;&nbsp; 6787 | &nbsp;&nbsp; 6160139 |
| PetSmart Inc./PetSmart Finance Corp. |  |  |
| 4.75%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 16104 | &nbsp;&nbsp; 15312028 |
| 7.75%, 02/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 15098 | &nbsp;&nbsp; 14643345 |
| QVC Inc., 6.88%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8776 | &nbsp;&nbsp; 7537268 |
| Sonic Automotive Inc. |  |  |
| 4.63%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8888 | &nbsp;&nbsp; 8160251 |
| 4.88%, 11/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6756 | &nbsp;&nbsp; 6073106 |
| Staples Inc. |  |  |
| 10.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 31636 | &nbsp;&nbsp; 30607830 |
| 12.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11043 | &nbsp;&nbsp; 8750738 |
| Suburban Propane Partners LP/Suburban <br> Energy Finance Corp., 5.00%, <br> 06/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 8286 | &nbsp;&nbsp; 7597917 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Walgreens Boots Alliance Inc. |  |  |
| 3.20%, 04/15/30 | &nbsp;&nbsp; $6417 | &nbsp;&nbsp; $5136792 |
| 3.45%, 06/01/26 | &nbsp;&nbsp; 19404 | &nbsp;&nbsp; 18647244 |
| 8.13%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 10865 | &nbsp;&nbsp; 10767215 |
| Yum! Brands Inc. |  |  |
| 3.63%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 13837 | &nbsp;&nbsp; 12526928 |
| 4.63%, 01/31/32<sup>(b)</sup> | &nbsp;&nbsp; 15247 | &nbsp;&nbsp; 14245272 |
| 4.75%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11140 | &nbsp;&nbsp; 10766245 |
| 5.38%, 04/01/32<sup>(b)</sup> | &nbsp;&nbsp; 13536 | &nbsp;&nbsp; 13170624 |
|  |  | &nbsp;&nbsp; 670720014 |
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| Entegris Inc. |  |  |
| 3.63%, 05/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4387 | &nbsp;&nbsp; 4015379 |
| 4.38%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3921 | &nbsp;&nbsp; 3741737 |
| 4.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 21468 | &nbsp;&nbsp; 20783278 |
| 5.95%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13864 | &nbsp;&nbsp; 13831583 |
|  |  | &nbsp;&nbsp; 42371977 |
| **Software — 2.8%** | **Software — 2.8%** | **Software — 2.8%** |
| AthenaHealth Group Inc., 6.50%, <br> 02/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 31438 | &nbsp;&nbsp; 29708910 |
| Central Parent Inc./CDK Global Inc., 7.25%, <br> 06/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10563 | &nbsp;&nbsp; 10595534 |
| Central Parent LLC/CDK Global II LLC/CDK <br> Financing Co. Inc., 8.00%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 11108 | &nbsp;&nbsp; 11353138 |
| Clarivate Science Holdings Corp. |  |  |
| 3.88%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11741 | &nbsp;&nbsp; 11101497 |
| 4.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 13083 | &nbsp;&nbsp; 12360557 |
| Cloud Software Group Inc. |  |  |
| 6.50%, 03/31/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 54642 | &nbsp;&nbsp; 53311467 |
| 8.25%, 06/30/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 24467 | &nbsp;&nbsp; 25132258 |
| 9.00%, 09/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 51508 | &nbsp;&nbsp; 51508000 |
| Fair Isaac Corp. |  |  |
| 4.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 11900 | &nbsp;&nbsp; 11303810 |
| 5.25%, 05/15/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 4221 | &nbsp;&nbsp; 4227332 |
| Helios Software Holdings Inc./ION Corporate <br> Solutions Finance SARL, 8.75%, <br> 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 9470 | &nbsp;&nbsp; 9612050 |
| Open Text Corp. |  |  |
| 3.88%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12688 | &nbsp;&nbsp; 11926720 |
| 3.88%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10717 | &nbsp;&nbsp; 9767110 |
| Open Text Holdings Inc. |  |  |
| 4.13%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 11837 | &nbsp;&nbsp; 10856748 |
| 4.13%, 12/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 8222 | &nbsp;&nbsp; 7362972 |
| ROBLOX Corp., 3.88%, 05/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 13606 | &nbsp;&nbsp; 12313430 |
| Rocket Software Inc. |  |  |
| 6.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8346 | &nbsp;&nbsp; 7733134 |
| 9.00%, 11/28/28<sup>(a)</sup> | &nbsp;&nbsp; 11844 | &nbsp;&nbsp; 12345505 |
| SS&C Technologies Inc. |  |  |
| 5.50%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp; 23538 | &nbsp;&nbsp; 23486511 |
| 6.50%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 10431 | &nbsp;&nbsp; 10618758 |
| Twilio Inc. |  |  |
| 3.63%, 03/15/29 | &nbsp;&nbsp; 6705 | &nbsp;&nbsp; 6170695 |
| 3.88%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp; 7183 | &nbsp;&nbsp; 6482657 |
| UKG Inc., 6.88%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 33082 | &nbsp;&nbsp; 33878036 |
| Veritas U.S. Inc./Veritas Bermuda Ltd., <br> 7.50%, 09/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 15209 | &nbsp;&nbsp; 14448550 |
|  |  | &nbsp;&nbsp; 397605379 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications — 5.3%** | **Telecommunications — 5.3%** | **Telecommunications — 5.3%** |
| Altice Financing SA |  |  |
| 5.00%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; $16207 | &nbsp;&nbsp; $13693092 |
| 5.75%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 27075 | &nbsp;&nbsp; 22113777 |
| Altice France Holding SA |  |  |
| 6.00%, 02/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 13667 | &nbsp;&nbsp; 3707174 |
| 10.50%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 20195 | &nbsp;&nbsp; 6134231 |
| Altice France SA |  |  |
| 5.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6662 | &nbsp;&nbsp; 4967354 |
| 5.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 34230 | &nbsp;&nbsp; 25586925 |
| 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 15247 | &nbsp;&nbsp; 11809716 |
| 5.50%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 27579 | &nbsp;&nbsp; 20626334 |
| 8.13%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 23739 | &nbsp;&nbsp; 19576366 |
| British Telecommunications PLC |  |  |
| 4.25%, 11/23/81, <br> (5-year CMT + 2.985%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 6304 | &nbsp;&nbsp; 6088053 |
| 4.88%, 11/23/81, <br> (5-year CMT + 3.493%)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 6447 | &nbsp;&nbsp; 5926875 |
| CommScope LLC |  |  |
| 4.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 16670 | &nbsp;&nbsp; 13940287 |
| 6.00%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 18754 | &nbsp;&nbsp; 18342974 |
| 7.13%, 07/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 9164 | &nbsp;&nbsp; 8044274 |
| 8.25%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 12068 | &nbsp;&nbsp; 11388029 |
| CommScope Technologies LLC, 5.00%, <br> 03/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 9903 | &nbsp;&nbsp; 8764155 |
| Connect Finco SARL/Connect U.S. Finco <br> LLC, 9.00%, 09/15/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 27002 | &nbsp;&nbsp; 25636711 |
| Consolidated Communications Inc. |  |  |
| 5.00%, 10/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5607 | &nbsp;&nbsp; 5187596 |
| 6.50%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11397 | &nbsp;&nbsp; 10826846 |
| Frontier Communications Holdings LLC |  |  |
| 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 18724 | &nbsp;&nbsp; 18424041 |
| 5.88%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 18186 | &nbsp;&nbsp; 18161813 |
| 5.88%, 11/01/29<sup>(b)</sup> | &nbsp;&nbsp; 9912 | &nbsp;&nbsp; 9701490 |
| 6.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 13412 | &nbsp;&nbsp; 13113902 |
| 6.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 13955 | &nbsp;&nbsp; 13885225 |
| 8.63%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8868 | &nbsp;&nbsp; 9506813 |
| 8.75%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 17205 | &nbsp;&nbsp; 18208984 |
| Hughes Satellite Systems Corp. |  |  |
| 5.25%, 08/01/26 | &nbsp;&nbsp; 9463 | &nbsp;&nbsp; 8637571 |
| 6.63%, 08/01/26<sup>(b)</sup> | &nbsp;&nbsp; 11644 | &nbsp;&nbsp; 10072060 |
| Iliad Holding SASU |  |  |
| 6.50%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 10583 | &nbsp;&nbsp; 10662372 |
| 7.00%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 12713 | &nbsp;&nbsp; 12887804 |
| 8.50%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 13651 | &nbsp;&nbsp; 14508010 |
| Intelsat Jackson Holdings SA, 6.50%, <br> 03/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 41554 | &nbsp;&nbsp; 39060760 |
| Level 3 Financing Inc. |  |  |
| 3.75%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 4825 | &nbsp;&nbsp; 3526882 |
| 3.88%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 6013 | &nbsp;&nbsp; 4571571 |
| 4.00%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6266 | &nbsp;&nbsp; 4747811 |
| 4.25%, 07/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 3325000 |
| 4.50%, 04/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9919 | &nbsp;&nbsp; 7908915 |
| 4.88%, 06/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 8625 | &nbsp;&nbsp; 7374375 |
| 10.50%, 04/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 9465 | &nbsp;&nbsp; 10534829 |
| 10.50%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 12332 | &nbsp;&nbsp; 13452516 |
| 10.75%, 12/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 10009 | &nbsp;&nbsp; 11210080 |
| 11.00%, 11/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 22352 | &nbsp;&nbsp; 25170224 |
| Lumen Technologies Inc. |  |  |
| 4.13%, 04/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 5784 | &nbsp;&nbsp; 4920610 |
| 5.13%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 276653 |
| 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7297 | &nbsp;&nbsp; 7279527 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Optics Bidco SpA |  |  |
| Series 2033, 6.38%, 11/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; $6104 | &nbsp;&nbsp; $6151184 |
| Series 2034, 6.00%, 09/30/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 6322 | &nbsp;&nbsp; 6150121 |
| Series 2036, 7.20%, 07/18/36<sup>(a)</sup> | &nbsp;&nbsp; 6746 | &nbsp;&nbsp; 6939442 |
| Series 2038, 7.72%, 06/04/38<sup>(a)</sup> | &nbsp;&nbsp; 6792 | &nbsp;&nbsp; 7202463 |
| Rogers Communications Inc., 5.25%, <br> 03/15/82, (5-year CMT + 3.590%)<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 10537 | &nbsp;&nbsp; 10347334 |
| Viasat Inc. |  |  |
| 6.50%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 5403 | &nbsp;&nbsp; 4082291 |
| 7.50%, 05/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 10218 | &nbsp;&nbsp; 6699432 |
| ViaSat Inc. |  |  |
| 5.63%, 09/15/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 558 | &nbsp;&nbsp; 551321 |
| 5.63%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 7225 | &nbsp;&nbsp; 6747982 |
| Vmed O2 U.K. Financing I PLC |  |  |
| 4.25%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp; 17593 | &nbsp;&nbsp; 15138776 |
| 4.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 18423 | &nbsp;&nbsp; 15952476 |
| 7.75%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 11207 | &nbsp;&nbsp; 11221009 |
| Vodafone Group PLC |  |  |
| 3.25%, 06/04/81, <br> (5-year CMT + 2.447%)<sup>(d)</sup><br>| &nbsp;&nbsp; 8029 | &nbsp;&nbsp; 7691541 |
| 4.13%, 06/04/81, <br> (5-year CMT + 2.767%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 13241 | &nbsp;&nbsp; 11893685 |
| 7.00%, 04/04/79, <br> (5-year USD Swap + 4.873%)<sup>(d)</sup><br>| &nbsp;&nbsp; 26440 | &nbsp;&nbsp; 27685324 |
| Windstream Services LLC/Windstream <br> Escrow Finance Corp.<br>|  |  |
| 7.75%, 08/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 22747 | &nbsp;&nbsp; 22875900 |
| 8.25%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp; 4259 | &nbsp;&nbsp; 4312919 |
| Zayo Group Holdings Inc. |  |  |
| 4.00%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 20416 | &nbsp;&nbsp; 18170240 |
| 6.13%, 03/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp; 15290 | &nbsp;&nbsp; 13112253 |
|  |  | &nbsp;&nbsp; 746416300 |
| **Transportation — 0.2%** | **Transportation — 0.2%** | **Transportation — 0.2%** |
| Brightline East LLC, 11.00%, 01/31/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 18111 | &nbsp;&nbsp; 16345178 |
| XPO Inc. |  |  |
| 7.13%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 6129 | &nbsp;&nbsp; 6339429 |
| 7.13%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 7864 | &nbsp;&nbsp; 8164388 |
|  |  | &nbsp;&nbsp; 30848995 |
| **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** |
| Fortress Transportation and Infrastructure <br> Investors LLC<br>|  |  |
| 5.88%, 04/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp; 6250 | &nbsp;&nbsp; 6095000 |
| 7.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 8699 | &nbsp;&nbsp; 8946829 |
| 7.00%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; 10842 | &nbsp;&nbsp; 11097871 |
| 7.88%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6780 | &nbsp;&nbsp; 7130391 |
| 5.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 13316 | &nbsp;&nbsp; 13049680 |
|  |  | &nbsp;&nbsp; 46319771 |
| **Total Corporate Bonds & Notes — 98.1%** <br>**(Cost: $14,612,247,618)** | **Total Corporate Bonds & Notes — 98.1%** <br>**(Cost: $14,612,247,618)** | &nbsp;&nbsp; 13878523299 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ High Yield Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Office REITs — 0.0%** | **Office REITs — 0.0%** | **Office REITs — 0.0%** |
| Office Properties Income Trust, NVS | &nbsp;&nbsp; 18325 | &nbsp;&nbsp; $29137 |
| **Total Common Stocks — 0.0%** <br>**(Cost $0)** | **Total Common Stocks — 0.0%** <br>**(Cost $0)** | &nbsp;&nbsp; 29137 |
| **Total Long-Term Investments — 98.1%** <br>**(Cost: $14,612,247,618)** | **Total Long-Term Investments — 98.1%** <br>**(Cost: $14,612,247,618)** | &nbsp;&nbsp; 13878552436 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 19.1%** | **Money Market Funds — 19.1%** | **Money Market Funds — 19.1%** |
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares, 5.01%<sup>(k)(l)(m)</sup><br>| &nbsp;&nbsp; 2617735405 | &nbsp;&nbsp; 2619567820 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(k)(l)</sup><br>| &nbsp;&nbsp; 76240000 | &nbsp;&nbsp; 76240000 |
| **Total Short-Term Securities — 19.1%** <br>**(Cost: $2,693,774,555)** | **Total Short-Term Securities — 19.1%** <br>**(Cost: $2,693,774,555)** | &nbsp;&nbsp; 2695807820 |
| **Total Investments — 117.2%** <br>**(Cost: $17,306,022,173)** | **Total Investments — 117.2%** <br>**(Cost: $17,306,022,173)** | &nbsp;&nbsp; 16574360256 |
| **Liabilities in Excess of Other Assets — (17.2)%** | **Liabilities in Excess of Other Assets — (17.2)%** | &nbsp;&nbsp; (2432871777)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $14141488479 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(d)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(e)</sup> Zero-coupon bond.

<sup>(f)</sup> Rounds to less than 1,000.

<sup>(g)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(h)</sup> Non-income producing security.

<sup>(i)</sup> Perpetual security with no stated maturity date.

<sup>(j)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(k)</sup> Affiliate of the Fund.

<sup>(l)</sup> Annualized 7-day yield as of period end.

<sup>(m)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Fair Value Hierarchy as of Period End** 

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

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

• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13878523299 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13878523299 |
| Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 29137 | &nbsp;&nbsp; — | &nbsp;&nbsp; 29137 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 2695807820 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2695807820 |
|  | &nbsp;&nbsp; $2695807820 | &nbsp;&nbsp; $13878552436 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $16574360256 |

---

------

Schedule of Investments (unaudited)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| Omnicom Group Inc., 2.60%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp; $2752 | $2377250 |
| **Aerospace & Defense — 2.5%** | **Aerospace & Defense — 2.5%** | **Aerospace & Defense — 2.5%** |
| Boeing Co. (The) |  |  |
| 2.95%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 6286 | 5558328 |
| 3.20%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3806 | 3478356 |
| 3.25%, 02/01/28 | &nbsp;&nbsp; 2958 | 2775556 |
| 3.25%, 02/01/35<sup>(a)</sup> | &nbsp;&nbsp; 7999 | 6385378 |
| 3.60%, 05/01/34 | &nbsp;&nbsp; 7966 | 6725874 |
| 3.63%, 02/01/31 | &nbsp;&nbsp; 10590 | 9554211 |
| 3.75%, 02/01/50<sup>(a)</sup> | &nbsp;&nbsp; 9928 | 6907482 |
| 3.90%, 05/01/49<sup>(a)</sup> | &nbsp;&nbsp; 5950 | 4194535 |
| 3.95%, 08/01/59 | &nbsp;&nbsp; 6332 | 4222882 |
| 5.15%, 05/01/30 | &nbsp;&nbsp; 34306 | 33832402 |
| 5.71%, 05/01/40 | &nbsp;&nbsp; 23348 | 22417269 |
| 5.81%, 05/01/50<sup>(a)</sup> | &nbsp;&nbsp; 43300 | 40849172 |
| 5.93%, 05/01/60 | &nbsp;&nbsp; 27858 | 26034095 |
| 6.30%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 12196 | 12629819 |
| 6.39%, 05/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 7081 | 7414004 |
| 6.53%, 05/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 17800 | 18760068 |
| 6.86%, 05/01/54<sup>(b)</sup> | &nbsp;&nbsp; 19141 | 20534382 |
| 7.01%, 05/01/64<sup>(b)</sup> | &nbsp;&nbsp; 9614 | 10333055 |
| GE Capital International Funding Co. Unlimited <br> Co., 4.42%, 11/15/35<sup>(a)</sup><br>| &nbsp;&nbsp; 10929 | 10260306 |
| General Dynamics Corp. |  |  |
| 3.63%, 04/01/30 | &nbsp;&nbsp; 10901 | 10381944 |
| 3.75%, 05/15/28 | &nbsp;&nbsp; 9180 | 8954475 |
| 4.25%, 04/01/40 | &nbsp;&nbsp; 7075 | 6338449 |
| 4.25%, 04/01/50 | &nbsp;&nbsp; 4719 | 4066843 |
| General Electric Co. |  |  |
| 5.88%, 01/14/38 | &nbsp;&nbsp; 10871 | 11438104 |
| 6.75%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 12092 | 13443285 |
| L3Harris Technologies Inc. |  |  |
| 4.40%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8158 | 8058137 |
| 4.40%, 06/15/28 | &nbsp;&nbsp; 4319 | 4266131 |
| 5.05%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8561 | 8625587 |
| 5.25%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 6532 | 6619261 |
| 5.35%, 06/01/34 | &nbsp;&nbsp; 6938 | 7010242 |
| 5.40%, 07/31/33 | &nbsp;&nbsp; 11190 | 11335947 |
| Lockheed Martin Corp. |  |  |
| 2.80%, 06/15/50<sup>(a)</sup> | &nbsp;&nbsp; 9752 | 6407843 |
| 3.80%, 03/01/45 | &nbsp;&nbsp; 14502 | 11697779 |
| 3.90%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; 5439 | 5132945 |
| 4.07%, 12/15/42 | &nbsp;&nbsp; 17018 | 14583604 |
| 4.09%, 09/15/52 | &nbsp;&nbsp; 15119 | 12476702 |
| 4.15%, 06/15/53 | &nbsp;&nbsp; 9239 | 7692517 |
| 4.70%, 05/15/46<sup>(a)</sup> | &nbsp;&nbsp; 13570 | 12501658 |
| 4.75%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 8207 | 8091103 |
| 5.10%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3905 | 3974863 |
| 5.20%, 02/15/64 | &nbsp;&nbsp; 2876 | 2806102 |
| 5.25%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 8184 | 8403158 |
| 5.70%, 11/15/54<sup>(a)</sup> | &nbsp;&nbsp; 9996 | 10553655 |
| 5.90%, 11/15/63<sup>(a)</sup> | &nbsp;&nbsp; 2791 | 3030287 |
| Northrop Grumman Corp. |  |  |
| 3.25%, 01/15/28 | &nbsp;&nbsp; 9927 | 9498368 |
| 4.03%, 10/15/47 | &nbsp;&nbsp; 22172 | 18041820 |
| 4.40%, 05/01/30 | &nbsp;&nbsp; 5471 | 5372791 |
| 4.70%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 11943 | 11707310 |
| 4.75%, 06/01/43 | &nbsp;&nbsp; 7753 | 7124321 |
| 4.90%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 7642 | 7549992 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** |
| 4.95%, 03/15/53<sup>(a)</sup> | &nbsp;&nbsp; $8751 | $8185857 |
| 5.20%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; 10204 | 9906921 |
| 5.25%, 05/01/50<sup>(a)</sup> | &nbsp;&nbsp; 9632 | 9394048 |
| RTX Corp. |  |  |
| 1.90%, 09/01/31 | &nbsp;&nbsp; 8390 | 6941544 |
| 2.25%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8264 | 7201823 |
| 2.38%, 03/15/32 | &nbsp;&nbsp; 7212 | 6062442 |
| 2.82%, 09/01/51 | &nbsp;&nbsp; 9703 | 6137410 |
| 3.03%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 9661 | 6382068 |
| 3.13%, 07/01/50 | &nbsp;&nbsp; 9914 | 6720801 |
| 3.75%, 11/01/46 | &nbsp;&nbsp; 11092 | 8626303 |
| 4.13%, 11/16/28 | &nbsp;&nbsp; 23862 | 23307185 |
| 4.15%, 05/15/45<sup>(a)</sup> | &nbsp;&nbsp; 7860 | 6526478 |
| 4.35%, 04/15/47 | &nbsp;&nbsp; 8445 | 7161458 |
| 4.45%, 11/16/38 | &nbsp;&nbsp; 8317 | 7568636 |
| 4.50%, 06/01/42 | &nbsp;&nbsp; 28509 | 25311773 |
| 4.63%, 11/16/48 | &nbsp;&nbsp; 16202 | 14278048 |
| 5.15%, 02/27/33<sup>(a)</sup> | &nbsp;&nbsp; 10225 | 10301886 |
| 5.38%, 02/27/53<sup>(a)</sup> | &nbsp;&nbsp; 9848 | 9660306 |
| 6.00%, 03/15/31 | &nbsp;&nbsp; 8767 | 9260237 |
| 6.10%, 03/15/34 | &nbsp;&nbsp; 12632 | 13548090 |
| 6.40%, 03/15/54<sup>(a)</sup> | &nbsp;&nbsp; 13084 | 14732236 |
|  |  | 737267947 |
| **Agriculture — 1.7%** | **Agriculture — 1.7%** | **Agriculture — 1.7%** |
| Altria Group Inc. |  |  |
| 2.45%, 02/04/32 | &nbsp;&nbsp; 10168 | 8450710 |
| 3.40%, 05/06/30 | &nbsp;&nbsp; 8010 | 7391037 |
| 3.40%, 02/04/41 | &nbsp;&nbsp; 13200 | 9840839 |
| 3.70%, 02/04/51 | &nbsp;&nbsp; 11546 | 8088726 |
| 3.88%, 09/16/46 | &nbsp;&nbsp; 13564 | 10095914 |
| 4.00%, 02/04/61<sup>(a)</sup> | &nbsp;&nbsp; 5371 | 3908342 |
| 4.25%, 08/09/42 | &nbsp;&nbsp; 7899 | 6462605 |
| 4.80%, 02/14/29 | &nbsp;&nbsp; 11953 | 11863728 |
| 5.38%, 01/31/44<sup>(a)</sup> | &nbsp;&nbsp; 14625 | 14118611 |
| 5.80%, 02/14/39<sup>(a)</sup> | &nbsp;&nbsp; 13670 | 13872447 |
| 5.95%, 02/14/49<sup>(a)</sup> | &nbsp;&nbsp; 20724 | 20885917 |
| Archer-Daniels-Midland Co. |  |  |
| 2.70%, 09/15/51 | &nbsp;&nbsp; 2040 | 1286031 |
| 2.90%, 03/01/32 | &nbsp;&nbsp; 6835 | 5999587 |
| 3.25%, 03/27/30 | &nbsp;&nbsp; 9878 | 9174365 |
| BAT Capital Corp. |  |  |
| 2.26%, 03/25/28<sup>(a)</sup> | &nbsp;&nbsp; 7629 | 6992474 |
| 2.73%, 03/25/31<sup>(a)</sup> | &nbsp;&nbsp; 10140 | 8827346 |
| 4.39%, 08/15/37 | &nbsp;&nbsp; 16610 | 14480902 |
| 4.54%, 08/15/47 | &nbsp;&nbsp; 18877 | 15088186 |
| 4.74%, 03/16/32<sup>(a)</sup> | &nbsp;&nbsp; 5979 | 5799751 |
| 4.76%, 09/06/49<sup>(a)</sup> | &nbsp;&nbsp; 9552 | 7861358 |
| 4.91%, 04/02/30 | &nbsp;&nbsp; 6254 | 6185996 |
| 5.83%, 02/20/31 | &nbsp;&nbsp; 8041 | 8286575 |
| 6.00%, 02/20/34 | &nbsp;&nbsp; 6967 | 7196781 |
| 6.34%, 08/02/30 | &nbsp;&nbsp; 8927 | 9418822 |
| 6.42%, 08/02/33 | &nbsp;&nbsp; 10732 | 11417500 |
| 7.08%, 08/02/43<sup>(a)</sup> | &nbsp;&nbsp; 8603 | 9414085 |
| 7.08%, 08/02/53<sup>(a)</sup> | &nbsp;&nbsp; 9072 | 10037507 |
| BAT International Finance PLC |  |  |
| 4.45%, 03/16/28<sup>(a)</sup> | &nbsp;&nbsp; 5397 | 5326869 |
| 5.93%, 02/02/29<sup>(a)</sup> | &nbsp;&nbsp; 6197 | 6422818 |
| Bunge Ltd. Finance Corp. |  |  |
| 2.75%, 05/14/31<sup>(a)</sup> | &nbsp;&nbsp; 10682 | 9360086 |
| 4.20%, 09/17/29<sup>(a)</sup> | &nbsp;&nbsp; 7016 | 6830029 |
| 4.65%, 09/17/34<sup>(a)</sup> | &nbsp;&nbsp; 3315 | 3178440 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Agriculture (continued)** | **Agriculture (continued)** | **Agriculture (continued)** |
| Philip Morris International Inc. |  |  |
| 1.75%, 11/01/30 | &nbsp;&nbsp; $11673 | $9776624 |
| 2.10%, 05/01/30 | &nbsp;&nbsp; 10969 | 9528619 |
| 3.38%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11657 | 10971652 |
| 3.88%, 08/21/42 | &nbsp;&nbsp; 4209 | 3406272 |
| 4.13%, 03/04/43 | &nbsp;&nbsp; 6613 | 5523610 |
| 4.25%, 11/10/44 | &nbsp;&nbsp; 7351 | 6182694 |
| 4.38%, 11/15/41 | &nbsp;&nbsp; 3556 | 3093683 |
| 4.63%, 11/01/29 | &nbsp;&nbsp; 5075 | 5039834 |
| 4.75%, 11/01/31 | &nbsp;&nbsp; 5075 | 4998561 |
| 4.88%, 02/15/28 | &nbsp;&nbsp; 6404 | 6438550 |
| 4.88%, 02/13/29<sup>(a)</sup> | &nbsp;&nbsp; 9643 | 9661543 |
| 4.88%, 11/15/43 | &nbsp;&nbsp; 4732 | 4370456 |
| 4.90%, 11/01/34 | &nbsp;&nbsp; 5075 | 4925152 |
| 5.13%, 02/15/30 | &nbsp;&nbsp; 18000 | 18221236 |
| 5.13%, 02/13/31 | &nbsp;&nbsp; 12487 | 12592695 |
| 5.25%, 02/13/34<sup>(a)</sup> | &nbsp;&nbsp; 15718 | 15757605 |
| 5.38%, 02/15/33 | &nbsp;&nbsp; 19977 | 20256824 |
| 5.63%, 11/17/29 | &nbsp;&nbsp; 12633 | 13089027 |
| 5.63%, 09/07/33<sup>(a)</sup> | &nbsp;&nbsp; 10806 | 11122949 |
| 5.75%, 11/17/32 | &nbsp;&nbsp; 14828 | 15437978 |
| 6.38%, 05/16/38<sup>(a)</sup> | &nbsp;&nbsp; 7659 | 8413405 |
| Reynolds American Inc. |  |  |
| 5.70%, 08/15/35<sup>(a)</sup> | &nbsp;&nbsp; 3255 | 3278489 |
| 5.85%, 08/15/45 | &nbsp;&nbsp; 19916 | 19237058 |
|  |  | 504888900 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| NIKE Inc. |  |  |
| 2.85%, 03/27/30 | &nbsp;&nbsp; 16034 | 14669325 |
| 3.25%, 03/27/40<sup>(a)</sup> | &nbsp;&nbsp; 8316 | 6602092 |
| 3.38%, 03/27/50<sup>(a)</sup> | &nbsp;&nbsp; 11565 | 8511218 |
| 3.88%, 11/01/45 | &nbsp;&nbsp; 10020 | 8126713 |
| Tapestry Inc. |  |  |
| 7.35%, 11/27/28<sup>(a)</sup> | &nbsp;&nbsp; 2376 | 2425900 |
| 7.70%, 11/27/30<sup>(a)</sup> | &nbsp;&nbsp; 8408 | 8623838 |
| 7.85%, 11/27/33<sup>(a)</sup> | &nbsp;&nbsp; 8347 | 8537993 |
|  |  | 57497079 |
| **Auto Manufacturers — 2.3%** | **Auto Manufacturers — 2.3%** | **Auto Manufacturers — 2.3%** |
| American Honda Finance Corp. |  |  |
| 2.00%, 03/24/28<sup>(a)</sup> | &nbsp;&nbsp; 4591 | 4213851 |
| 4.40%, 09/05/29<sup>(a)</sup> | &nbsp;&nbsp; 7633 | 7499156 |
| 4.90%, 03/13/29<sup>(a)</sup> | &nbsp;&nbsp; 5731 | 5759687 |
| 4.90%, 01/10/34<sup>(a)</sup> | &nbsp;&nbsp; 6244 | 6145267 |
| 5.05%, 07/10/31 | &nbsp;&nbsp; 7643 | 7663682 |
| 5.13%, 07/07/28<sup>(a)</sup> | &nbsp;&nbsp; 5035 | 5107260 |
| 5.65%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5296 | 5476308 |
| Cummins Inc. |  |  |
| 1.50%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 10788 | 9069271 |
| 5.15%, 02/20/34<sup>(a)</sup> | &nbsp;&nbsp; 6522 | 6632615 |
| 5.45%, 02/20/54<sup>(a)</sup> | &nbsp;&nbsp; 4968 | 5017539 |
| Ford Motor Co. |  |  |
| 3.25%, 02/12/32 | &nbsp;&nbsp; 23169 | 19382602 |
| 4.75%, 01/15/43<sup>(a)</sup> | &nbsp;&nbsp; 16442 | 13290902 |
| 5.29%, 12/08/46<sup>(a)</sup> | &nbsp;&nbsp; 7068 | 6153524 |
| 6.10%, 08/19/32<sup>(a)</sup> | &nbsp;&nbsp; 15423 | 15482099 |
| 7.45%, 07/16/31<sup>(a)</sup> | &nbsp;&nbsp; 8461 | 9112149 |
| Ford Motor Credit Co. LLC |  |  |
| 2.90%, 02/16/28 | &nbsp;&nbsp; 2883 | 2649651 |
| 2.90%, 02/10/29<sup>(a)</sup> | &nbsp;&nbsp; 7508 | 6705037 |
| 3.63%, 06/17/31<sup>(a)</sup> | &nbsp;&nbsp; 8914 | 7752810 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 4.00%, 11/13/30 | &nbsp;&nbsp; $14641 | $13221324 |
| 5.11%, 05/03/29<sup>(a)</sup> | &nbsp;&nbsp; 15047 | 14638746 |
| 5.30%, 09/06/29 | &nbsp;&nbsp; 9012 | 8822221 |
| 5.80%, 03/08/29 | &nbsp;&nbsp; 14987 | 14992752 |
| 6.05%, 03/05/31<sup>(a)</sup> | &nbsp;&nbsp; 8357 | 8389035 |
| 6.05%, 11/05/31 | &nbsp;&nbsp; 3000 | 3000000 |
| 6.13%, 03/08/34 | &nbsp;&nbsp; 14098 | 13938229 |
| 6.80%, 05/12/28 | &nbsp;&nbsp; 13785 | 14283109 |
| 6.80%, 11/07/28 | &nbsp;&nbsp; 13467 | 14000744 |
| 7.12%, 11/07/33 | &nbsp;&nbsp; 11588 | 12227090 |
| 7.20%, 06/10/30<sup>(a)</sup> | &nbsp;&nbsp; 7060 | 7450717 |
| 7.35%, 11/04/27<sup>(a)</sup> | &nbsp;&nbsp; 928 | 974855 |
| 7.35%, 03/06/30<sup>(a)</sup> | &nbsp;&nbsp; 10190 | 10806685 |
| General Motors Co. |  |  |
| 5.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 8280 | 8268628 |
| 5.00%, 04/01/35 | &nbsp;&nbsp; 5520 | 5236178 |
| 5.15%, 04/01/38<sup>(a)</sup> | &nbsp;&nbsp; 8142 | 7613592 |
| 5.20%, 04/01/45 | &nbsp;&nbsp; 10179 | 9063922 |
| 5.40%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10578 | 10670766 |
| 5.40%, 04/01/48<sup>(a)</sup> | &nbsp;&nbsp; 6645 | 6054969 |
| 5.60%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8681 | 8810531 |
| 5.95%, 04/01/49 | &nbsp;&nbsp; 7342 | 7174539 |
| 6.25%, 10/02/43 | &nbsp;&nbsp; 12449 | 12534022 |
| 6.60%, 04/01/36 | &nbsp;&nbsp; 6583 | 6953997 |
| 6.75%, 04/01/46<sup>(a)</sup> | &nbsp;&nbsp; 5893 | 6273325 |
| General Motors Financial Co. Inc. |  |  |
| 2.35%, 01/08/31 | &nbsp;&nbsp; 7996 | 6725978 |
| 2.40%, 04/10/28 | &nbsp;&nbsp; 12074 | 11064021 |
| 2.40%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9940 | 8991333 |
| 2.70%, 06/10/31<sup>(a)</sup> | &nbsp;&nbsp; 9116 | 7753111 |
| 3.10%, 01/12/32 | &nbsp;&nbsp; 9676 | 8316702 |
| 3.60%, 06/21/30 | &nbsp;&nbsp; 11228 | 10293167 |
| 4.30%, 04/06/29 | &nbsp;&nbsp; 12385 | 11950066 |
| 4.90%, 10/06/29<sup>(a)</sup> | &nbsp;&nbsp; 8116 | 7998911 |
| 5.45%, 09/06/34<sup>(a)</sup> | &nbsp;&nbsp; 7516 | 7392956 |
| 5.55%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10846 | 10979267 |
| 5.60%, 06/18/31 | &nbsp;&nbsp; 7330 | 7383843 |
| 5.75%, 02/08/31<sup>(a)</sup> | &nbsp;&nbsp; 5657 | 5752555 |
| 5.80%, 06/23/28<sup>(a)</sup> | &nbsp;&nbsp; 14713 | 15056119 |
| 5.80%, 01/07/29<sup>(a)</sup> | &nbsp;&nbsp; 14958 | 15294226 |
| 5.85%, 04/06/30<sup>(a)</sup> | &nbsp;&nbsp; 9943 | 10179414 |
| 5.95%, 04/04/34<sup>(a)</sup> | &nbsp;&nbsp; 11338 | 11534042 |
| 6.10%, 01/07/34<sup>(a)</sup> | &nbsp;&nbsp; 11629 | 11951010 |
| 6.40%, 01/09/33 | &nbsp;&nbsp; 8189 | 8589277 |
| Honda Motor Co. Ltd., 2.97%, 03/10/32<sup>(a)</sup> | &nbsp;&nbsp; 8304 | 7359129 |
| Mercedes-Benz Finance North America LLC, <br> 8.50%, 01/18/31<sup>(a)</sup><br>| &nbsp;&nbsp; 15225 | 18020506 |
| Toyota Motor Credit Corp. |  |  |
| 1.90%, 04/06/28<sup>(a)</sup> | &nbsp;&nbsp; 3704 | 3392130 |
| 2.15%, 02/13/30<sup>(a)</sup> | &nbsp;&nbsp; 17181 | 15128982 |
| 3.38%, 04/01/30 | &nbsp;&nbsp; 10290 | 9610447 |
| 4.45%, 06/29/29 | &nbsp;&nbsp; 4805 | 4762554 |
| 4.55%, 08/09/29<sup>(a)</sup> | &nbsp;&nbsp; 7283 | 7232567 |
| 4.60%, 10/10/31 | &nbsp;&nbsp; 6617 | 6484012 |
| 4.65%, 01/05/29<sup>(a)</sup> | &nbsp;&nbsp; 4899 | 4903054 |
| 4.80%, 01/05/34 | &nbsp;&nbsp; 6899 | 6794455 |
| 5.05%, 05/16/29<sup>(a)</sup> | &nbsp;&nbsp; 6558 | 6648210 |
| 5.10%, 03/21/31<sup>(a)</sup> | &nbsp;&nbsp; 9944 | 10073003 |
| 5.25%, 09/11/28<sup>(a)</sup> | &nbsp;&nbsp; 5837 | 5960207 |
| 5.55%, 11/20/30<sup>(a)</sup> | &nbsp;&nbsp; 10836 | 11245709 |
|  |  | 663334349 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| Aptiv PLC, 3.10%, 12/01/51 | &nbsp;&nbsp; $11241 | $6804165 |
| Aptiv PLC/Aptiv Corp. |  |  |
| 3.25%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp; 9773 | 8499871 |
| 4.15%, 05/01/52<sup>(a)</sup> | &nbsp;&nbsp; 9223 | 6830869 |
|  |  | 22134905 |
| **Banks — 21.9%** | **Banks — 21.9%** | **Banks — 21.9%** |
| Banco Bilbao Vizcaya Argentaria SA |  |  |
| 5.38%, 03/13/29 | &nbsp;&nbsp; 10268 | 10418510 |
| 6.03%, 03/13/35, (1-year CMT + 1.950%)<sup>(c)</sup> | &nbsp;&nbsp; 4363 | 4483778 |
| Banco Santander SA |  |  |
| 2.75%, 12/03/30 | &nbsp;&nbsp; 17015 | 14565558 |
| 2.96%, 03/25/31<sup>(a)</sup> | &nbsp;&nbsp; 9160 | 8062601 |
| 3.31%, 06/27/29<sup>(a)</sup> | &nbsp;&nbsp; 10111 | 9445861 |
| 3.49%, 05/28/30 | &nbsp;&nbsp; 10089 | 9259345 |
| 3.80%, 02/23/28 | &nbsp;&nbsp; 5725 | 5516645 |
| 4.38%, 04/12/28 | &nbsp;&nbsp; 10859 | 10634230 |
| 5.44%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 14649 | 14849347 |
| 5.54%, 03/14/30, <br> (1-year CMT + 1.450%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 4018 | 4071624 |
| 5.59%, 08/08/28<sup>(a)</sup> | &nbsp;&nbsp; 15737 | 16089822 |
| 6.35%, 03/14/34<sup>(a)</sup> | &nbsp;&nbsp; 6468 | 6693248 |
| 6.61%, 11/07/28<sup>(a)</sup> | &nbsp;&nbsp; 10193 | 10822361 |
| 6.92%, 08/08/33<sup>(a)</sup> | &nbsp;&nbsp; 11626 | 12495984 |
| 6.94%, 11/07/33 | &nbsp;&nbsp; 8081 | 9002093 |
| Bank of America Corp. |  |  |
| 1.90%, 07/23/31, (1-day SOFR + 1.530%)<sup>(c)</sup> | &nbsp;&nbsp; 19204 | 16230408 |
| 1.92%, 10/24/31, (1-day SOFR + 1.370%)<sup>(c)</sup> | &nbsp;&nbsp; 19872 | 16637669 |
| 2.09%, 06/14/29, (1-day SOFR + 1.060%)<sup>(c)</sup> | &nbsp;&nbsp; 16579 | 15031445 |
| 2.30%, 07/21/32, (1-day SOFR + 1.220%)<sup>(c)</sup> | &nbsp;&nbsp; 31104 | 26138337 |
| 2.50%, 02/13/31, <br> (3-mo. CME Term SOFR + 1.252%)<sup>(c)</sup><br>| &nbsp;&nbsp; 26592 | 23501496 |
| 2.57%, 10/20/32, (1-day SOFR + 1.210%)<sup>(c)</sup> | &nbsp;&nbsp; 29131 | 24772947 |
| 2.59%, 04/29/31, (1-day SOFR + 2.150%)<sup>(c)</sup> | &nbsp;&nbsp; 22522 | 19889466 |
| 2.68%, 06/19/41, (1-day SOFR + 1.930%)<sup>(c)</sup> | &nbsp;&nbsp; 43064 | 30759129 |
| 2.69%, 04/22/32, (1-day SOFR + 1.320%)<sup>(c)</sup> | &nbsp;&nbsp; 43564 | 37748437 |
| 2.83%, 10/24/51, (1-day SOFR + 1.880%)<sup>(c)</sup> | &nbsp;&nbsp; 8506 | 5529273 |
| 2.88%, 10/22/30, <br> (3-mo. CME Term SOFR + 1.452%)<sup>(c)</sup><br>| &nbsp;&nbsp; 13338 | 12105347 |
| 2.97%, 02/04/33, <br> (1-day SOFR + 1.330%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 36517 | 31672994 |
| 2.97%, 07/21/52, <br> (1-day SOFR + 1.560%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 16362 | 10967933 |
| 3.19%, 07/23/30, <br> (3-mo. CME Term SOFR + 1.442%)<sup>(c)</sup><br>| &nbsp;&nbsp; 15527 | 14345940 |
| 3.31%, 04/22/42, (1-day SOFR + 1.580%)<sup>(c)</sup> | &nbsp;&nbsp; 27717 | 21393863 |
| 3.42%, 12/20/28, <br> (3-mo. CME Term SOFR + 1.302%)<sup>(c)</sup><br>| &nbsp;&nbsp; 36970 | 35454374 |
| 3.95%, 01/23/49, <br> (3-mo. CME Term SOFR + 1.452%)<sup>(c)</sup><br>| &nbsp;&nbsp; 10035 | 8122335 |
| 3.97%, 03/05/29, <br> (3-mo. CME Term SOFR + 1.332%)<sup>(c)</sup><br>| &nbsp;&nbsp; 13231 | 12833252 |
| 3.97%, 02/07/30, <br> (3-mo. CME Term SOFR + 1.472%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 18391 | 17690993 |
| 4.08%, 04/23/40, <br> (3-mo. CME Term SOFR + 1.582%)<sup>(c)</sup><br>| &nbsp;&nbsp; 13561 | 11791235 |
| 4.08%, 03/20/51, <br> (3-mo. CME Term SOFR + 3.412%)<sup>(c)</sup><br>| &nbsp;&nbsp; 43727 | 35794218 |
| 4.24%, 04/24/38, <br> (3-mo. CME Term SOFR + 2.076%)<sup>(c)</sup><br>| &nbsp;&nbsp; 16903 | 15263073 |
| 4.27%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.572%)<sup>(c)</sup><br>| &nbsp;&nbsp; 17697 | 17318304 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 4.33%, 03/15/50, <br> (3-mo. CME Term SOFR + 1.782%)<sup>(c)</sup><br>| &nbsp;&nbsp; $21805 | $18699595 |
| 4.44%, 01/20/48, <br> (3-mo. CME Term SOFR + 2.252%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 16643 | 14500089 |
| 4.57%, 04/27/33, <br> (1-day SOFR + 1.830%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 28420 | 27383130 |
| 5.00%, 01/21/44 | &nbsp;&nbsp; 17886 | 17212828 |
| 5.02%, 07/22/33, (1-day SOFR + 2.160%)<sup>(c)</sup> | &nbsp;&nbsp; 40159 | 39822849 |
| 5.20%, 04/25/29, (1-day SOFR + 1.630%)<sup>(c)</sup> | &nbsp;&nbsp; 21102 | 21290031 |
| 5.29%, 04/25/34, <br> (1-day SOFR + 1.910%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 41354 | 41501886 |
| 5.47%, 01/23/35, (1-day SOFR + 1.650%)<sup>(c)</sup> | &nbsp;&nbsp; 39070 | 39663606 |
| 5.82%, 09/15/29, (1-day SOFR + 1.570%)<sup>(c)</sup> | &nbsp;&nbsp; 17260 | 17791416 |
| 5.87%, 09/15/34, <br> (1-day SOFR + 1.840%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 31328 | 32609967 |
| 5.88%, 02/07/42 | &nbsp;&nbsp; 14092 | 14968439 |
| 6.11%, 01/29/37 | &nbsp;&nbsp; 16293 | 17257619 |
| 6.20%, 11/10/28, (1-day SOFR + 1.990%)<sup>(c)</sup> | &nbsp;&nbsp; 3659 | 3805110 |
| 7.75%, 05/14/38<sup>(a)</sup> | &nbsp;&nbsp; 14246 | 17166259 |
| Series N, 2.65%, 03/11/32, <br> (1-day SOFR + 1.220%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 11888 | 10311235 |
| Series N, 3.48%, 03/13/52, <br> (1-day SOFR + 1.650%)<sup>(c)</sup><br>| &nbsp;&nbsp; 8165 | 6058707 |
| Bank of America NA, 6.00%, 10/15/36 | &nbsp;&nbsp; 11516 | 12196451 |
| Bank of Montreal |  |  |
| 4.64%, 09/10/30, <br> (1-day SOFR + 1.250%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 10371 | 10241761 |
| 5.20%, 02/01/28 | &nbsp;&nbsp; 2959 | 3006066 |
| 5.51%, 06/04/31<sup>(a)</sup> | &nbsp;&nbsp; 2571 | 2627936 |
| 5.72%, 09/25/28 | &nbsp;&nbsp; 8308 | 8593336 |
| Bank of New York Mellon Corp. (The) |  |  |
| 3.30%, 08/23/29 | &nbsp;&nbsp; 5707 | 5327219 |
| 3.40%, 01/29/28 | &nbsp;&nbsp; 296 | 285973 |
| 3.85%, 04/28/28<sup>(a)</sup> | &nbsp;&nbsp; 1980 | 1935760 |
| Bank of Nova Scotia (The) |  |  |
| 2.45%, 02/02/32 | &nbsp;&nbsp; 3182 | 2684949 |
| 4.85%, 02/01/30 | &nbsp;&nbsp; 14173 | 14141271 |
| 5.25%, 06/12/28<sup>(a)</sup> | &nbsp;&nbsp; 6162 | 6259328 |
| 5.65%, 02/01/34 | &nbsp;&nbsp; 3435 | 3554824 |
| Barclays PLC |  |  |
| 2.65%, 06/24/31, (1-year CMT + 1.900%)<sup>(c)</sup> | &nbsp;&nbsp; 12458 | 10877333 |
| 2.67%, 03/10/32, (1-year CMT + 1.200%)<sup>(c)</sup> | &nbsp;&nbsp; 10524 | 9040772 |
| 2.89%, 11/24/32, (1-year CMT + 1.300%)<sup>(c)</sup> | &nbsp;&nbsp; 10325 | 8822947 |
| 3.33%, 11/24/42, (1-year CMT + 1.300%)<sup>(c)</sup> | &nbsp;&nbsp; 3752 | 2790286 |
| 4.94%, 09/10/30, (1-day SOFR + 1.560%)<sup>(c)</sup> | &nbsp;&nbsp; 15127 | 14917995 |
| 4.95%, 01/10/47<sup>(a)</sup> | &nbsp;&nbsp; 10110 | 9303787 |
| 4.97%, 05/16/29, <br> (3-mo. LIBOR US + 1.902%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 18750 | 18645724 |
| 5.25%, 08/17/45<sup>(a)</sup> | &nbsp;&nbsp; 8125 | 7856154 |
| 5.34%, 09/10/35, <br> (1-day SOFR + 1.910%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 19007 | 18606203 |
| 5.69%, 03/12/30, (1-day SOFR +1.740%)<sup>(c)</sup> | &nbsp;&nbsp; 19975 | 20323450 |
| 5.75%, 08/09/33, <br> (1-year CMT + 3.000%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 7147 | 7278184 |
| 6.04%, 03/12/55, (1-day SOFR + 2.420%)<sup>(c)</sup> | &nbsp;&nbsp; 3472 | 3627341 |
| 6.22%, 05/09/34, (1-day SOFR + 2.980%)<sup>(c)</sup> | &nbsp;&nbsp; 15827 | 16536648 |
| 6.49%, 09/13/29, (1-day SOFR + 2.220%)<sup>(c)</sup> | &nbsp;&nbsp; 13927 | 14565377 |
| 6.69%, 09/13/34, <br> (1-day SOFR + 2.620%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 9161 | 9882355 |
| 7.39%, 11/02/28, (1-year CMT + 3.300%)<sup>(c)</sup> | &nbsp;&nbsp; 14379 | 15300241 |
| 7.44%, 11/02/33, (1-year CMT + 3.500%)<sup>(c)</sup> | &nbsp;&nbsp; 14459 | 16188672 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Canadian Imperial Bank of Commerce |  |  |
| 3.60%, 04/07/32 | &nbsp;&nbsp; $3290 | $3007311 |
| 4.63%, 09/11/30, (1-day SOFR + 1.335%)<sup>(c)</sup> | &nbsp;&nbsp; 12742 | 12541269 |
| 5.00%, 04/28/28<sup>(a)</sup> | &nbsp;&nbsp; 8704 | 8762729 |
| 5.26%, 04/08/29<sup>(a)</sup> | &nbsp;&nbsp; 10728 | 10904580 |
| 6.09%, 10/03/33 | &nbsp;&nbsp; 8269 | 8793011 |
| Citibank NA |  |  |
| 4.84%, 08/06/29 | &nbsp;&nbsp; 12186 | 12215872 |
| 5.57%, 04/30/34 | &nbsp;&nbsp; 16147 | 16610722 |
| 5.80%, 09/29/28<sup>(a)</sup> | &nbsp;&nbsp; 20898 | 21685376 |
| Citigroup Inc. |  |  |
| 2.52%, 11/03/32, (1-day SOFR + 1.177%)<sup>(c)</sup> | &nbsp;&nbsp; 16774 | 14138957 |
| 2.56%, 05/01/32, (1-day SOFR + 1.167%)<sup>(c)</sup> | &nbsp;&nbsp; 24003 | 20532826 |
| 2.57%, 06/03/31, (1-day SOFR + 2.107%)<sup>(c)</sup> | &nbsp;&nbsp; 31828 | 27885628 |
| 2.67%, 01/29/31, (1-day SOFR + 1.146%)<sup>(c)</sup> | &nbsp;&nbsp; 20656 | 18338225 |
| 2.90%, 11/03/42, <br> (1-day SOFR + 1.379%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 14705 | 10583422 |
| 2.98%, 11/05/30, (1-day SOFR + 1.422%)<sup>(c)</sup> | &nbsp;&nbsp; 21875 | 19877996 |
| 3.06%, 01/25/33, (1-day SOFR + 1.351%)<sup>(c)</sup> | &nbsp;&nbsp; 25070 | 21784782 |
| 3.79%, 03/17/33, (1-day SOFR + 1.939%)<sup>(c)</sup> | &nbsp;&nbsp; 26742 | 24334605 |
| 3.88%, 01/24/39, <br> (3-mo. CME Term SOFR + 1.430%)<sup>(c)</sup><br>| &nbsp;&nbsp; 5467 | 4630529 |
| 3.98%, 03/20/30, <br> (3-mo. CME Term SOFR + 1.600%)<sup>(c)</sup><br>| &nbsp;&nbsp; 22271 | 21347651 |
| 4.08%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.454%)<sup>(c)</sup><br>| &nbsp;&nbsp; 15237 | 14822732 |
| 4.13%, 07/25/28<sup>(a)</sup> | &nbsp;&nbsp; 16274 | 15841356 |
| 4.28%, 04/24/48, <br> (3-mo. CME Term SOFR + 2.101%)<sup>(c)</sup><br>| &nbsp;&nbsp; 7453 | 6263985 |
| 4.41%, 03/31/31, (1-day SOFR + 3.914%)<sup>(c)</sup> | &nbsp;&nbsp; 33643 | 32544563 |
| 4.54%, 09/19/30, <br> (1-day SOFR + 1.338%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 28317 | 27717943 |
| 4.65%, 07/30/45 | &nbsp;&nbsp; 7212 | 6458653 |
| 4.65%, 07/23/48<sup>(a)</sup> | &nbsp;&nbsp; 20070 | 17991360 |
| 4.75%, 05/18/46 | &nbsp;&nbsp; 14438 | 12871851 |
| 4.91%, 05/24/33, <br> (1-day SOFR + 2.086%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 21344 | 20874161 |
| 5.17%, 02/13/30, (1-day SOFR + 1.364%)<sup>(c)</sup> | &nbsp;&nbsp; 22732 | 22864500 |
| 5.30%, 05/06/44<sup>(a)</sup> | &nbsp;&nbsp; 6952 | 6716571 |
| 5.32%, 03/26/41, (1-day SOFR + 4.548%)<sup>(c)</sup> | &nbsp;&nbsp; 10171 | 10004867 |
| 5.45%, 06/11/35, <br> (1-day SOFR + 1.447%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 20857 | 21004816 |
| 5.88%, 01/30/42<sup>(a)</sup> | &nbsp;&nbsp; 8826 | 9271031 |
| 6.27%, 11/17/33, (1-day SOFR + 2.338%)<sup>(c)</sup> | &nbsp;&nbsp; 23653 | 25172081 |
| 6.63%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp; 11148 | 12017760 |
| 6.68%, 09/13/43<sup>(a)</sup> | &nbsp;&nbsp; 6767 | 7607145 |
| 8.13%, 07/15/39 | &nbsp;&nbsp; 13561 | 17090557 |
| Citizens Financial Group Inc. |  |  |
| 3.25%, 04/30/30 | &nbsp;&nbsp; 2251 | 2042506 |
| 5.72%, 07/23/32, (1-day SOFR + 1.910%)<sup>(c)</sup> | &nbsp;&nbsp; 8059 | 8134792 |
| 5.84%, 01/23/30, (1-day SOFR + 2.010%)<sup>(c)</sup> | &nbsp;&nbsp; 11139 | 11354197 |
| 6.65%, 04/25/35, <br> (1-day SOFR +2.325%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3085 | 3301249 |
| Cooperatieve Rabobank UA |  |  |
| 5.25%, 05/24/41 | &nbsp;&nbsp; 13147 | 13235736 |
| 5.25%, 08/04/45<sup>(a)</sup> | &nbsp;&nbsp; 8055 | 7915614 |
| 5.75%, 12/01/43 | &nbsp;&nbsp; 8988 | 9203025 |
| Cooperatieve Rabobank UA/New York, 4.49%, <br> 10/17/29<br>| &nbsp;&nbsp; 5550 | 5475748 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Deutsche Bank AG/New York |  |  |
| 3.04%, 05/28/32, <br> (1-day SOFR + 1.718%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; $1405 | $1214614 |
| 3.55%, 09/18/31, (1-day SOFR + 3.043%)<sup>(c)</sup> | &nbsp;&nbsp; 5507 | 4999007 |
| 5.00%, 09/11/30, (1-day SOFR + 1.700%)<sup>(c)</sup> | &nbsp;&nbsp; 14559 | 14330642 |
| 5.40%, 09/11/35, <br> (1-day SOFR + 2.050%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 17234 | 16707293 |
| 5.41%, 05/10/29<sup>(a)</sup> | &nbsp;&nbsp; 5356 | 5433284 |
| 6.72%, 01/18/29, <br> (1-day SOFR + 3.180%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 6886 | 7169320 |
| 6.82%, 11/20/29, <br> (1-day SOFR + 2.510%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 8446 | 8894564 |
| Discover Bank, 4.65%, 09/13/28 | &nbsp;&nbsp; 4069 | 3998001 |
| Fifth Third Bancorp |  |  |
| 4.77%, 07/28/30, <br> (1-day SOFR Index + 2.127%)<sup>(c)</sup><br>| &nbsp;&nbsp; 10921 | 10745465 |
| 4.90%, 09/06/30, <br> (1-day SOFR + 1.486%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3466 | 3426051 |
| 5.63%, 01/29/32, (1-day SOFR + 1.840%)<sup>(c)</sup> | &nbsp;&nbsp; 1715 | 1743578 |
| 6.34%, 07/27/29, (1-day SOFR + 2.340%)<sup>(c)</sup> | &nbsp;&nbsp; 11687 | 12191895 |
| 8.25%, 03/01/38 | &nbsp;&nbsp; 2827 | 3417171 |
| Goldman Sachs Capital I, 6.35%, 02/15/34 | &nbsp;&nbsp; 9609 | 10059561 |
| Goldman Sachs Group Inc. (The) |  |  |
| 1.99%, 01/27/32, (1-day SOFR + 1.090%)<sup>(c)</sup> | &nbsp;&nbsp; 24325 | 20274941 |
| 2.38%, 07/21/32, (1-day SOFR + 1.248%)<sup>(c)</sup> | &nbsp;&nbsp; 28299 | 23881453 |
| 2.60%, 02/07/30<sup>(a)</sup> | &nbsp;&nbsp; 15841 | 14181670 |
| 2.62%, 04/22/32, (1-day SOFR + 1.281%)<sup>(c)</sup> | &nbsp;&nbsp; 32402 | 27885971 |
| 2.65%, 10/21/32, (1-day SOFR + 1.264%)<sup>(c)</sup> | &nbsp;&nbsp; 28911 | 24682072 |
| 2.91%, 07/21/42, (1-day SOFR + 1.472%)<sup>(c)</sup> | &nbsp;&nbsp; 12946 | 9351736 |
| 3.10%, 02/24/33, <br> (1-day SOFR + 1.410%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 37122 | 32382916 |
| 3.21%, 04/22/42, (1-day SOFR + 1.513%)<sup>(c)</sup> | &nbsp;&nbsp; 22097 | 16711943 |
| 3.44%, 02/24/43, (1-day SOFR + 1.632%)<sup>(c)</sup> | &nbsp;&nbsp; 16344 | 12655831 |
| 3.80%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 20856 | 19805289 |
| 3.81%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.420%)<sup>(c)</sup><br>| &nbsp;&nbsp; 14357 | 13845894 |
| 4.02%, 10/31/38, <br> (3-mo. CME Term SOFR + 1.635%)<sup>(c)</sup><br>| &nbsp;&nbsp; 19645 | 17046797 |
| 4.22%, 05/01/29, <br> (3-mo. CME Term SOFR + 1.563%)<sup>(c)</sup><br>| &nbsp;&nbsp; 22589 | 22052986 |
| 4.41%, 04/23/39, <br> (3-mo. CME Term SOFR + 1.692%)<sup>(c)</sup><br>| &nbsp;&nbsp; 14999 | 13485064 |
| 4.69%, 10/23/30, (1-day SOFR + 1.135%)<sup>(c)</sup> | &nbsp;&nbsp; 13596 | 13398056 |
| 4.75%, 10/21/45<sup>(a)</sup> | &nbsp;&nbsp; 14497 | 13386241 |
| 4.80%, 07/08/44 | &nbsp;&nbsp; 14519 | 13576819 |
| 5.02%, 10/23/35, (1-day SOFR + 1.420%)<sup>(c)</sup> | &nbsp;&nbsp; 21950 | 21438126 |
| 5.05%, 07/23/30, <br> (1-day SOFR + 1.210%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 17550 | 17584512 |
| 5.15%, 05/22/45<sup>(a)</sup> | &nbsp;&nbsp; 15890 | 15153527 |
| 5.33%, 07/23/35, (1-day SOFR + 1.550%)<sup>(c)</sup> | &nbsp;&nbsp; 24438 | 24398059 |
| 5.73%, 04/25/30, (1-day SOFR +1.265%)<sup>(c)</sup> | &nbsp;&nbsp; 16026 | 16462205 |
| 5.85%, 04/25/35, (1-day SOFR + 1.552%)<sup>(c)</sup> | &nbsp;&nbsp; 24091 | 24969946 |
| 6.13%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 9844 | 10664931 |
| 6.25%, 02/01/41 | &nbsp;&nbsp; 21671 | 23504971 |
| 6.48%, 10/24/29, <br> (1-day SOFR + 1.770%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 15404 | 16243658 |
| 6.56%, 10/24/34, (1-day SOFR + 1.950%)<sup>(c)</sup> | &nbsp;&nbsp; 6352 | 6937914 |
| 6.75%, 10/01/37 | &nbsp;&nbsp; 42681 | 46820686 |
| HSBC Holdings PLC |  |  |
| 2.21%, 08/17/29, <br> (1-day SOFR + 1.285%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 22913 | 20641256 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 2.36%, 08/18/31, (1-day SOFR + 1.947%)<sup>(c)</sup> | &nbsp;&nbsp; $20069 | $17222291 |
| 2.80%, 05/24/32, (1-day SOFR + 1.187%)<sup>(c)</sup> | &nbsp;&nbsp; 28695 | 24749621 |
| 2.85%, 06/04/31, (1-day SOFR + 2.387%)<sup>(c)</sup> | &nbsp;&nbsp; 18556 | 16463755 |
| 2.87%, 11/22/32, <br> (1-day SOFR + 1.410%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 9411 | 8066487 |
| 3.97%, 05/22/30, <br> (3-mo. CME Term SOFR + 1.872%)<sup>(c)</sup><br>| &nbsp;&nbsp; 32195 | 30665296 |
| 4.58%, 06/19/29, <br> (3-mo. CME Term SOFR + 1.796%)<sup>(c)</sup><br>| &nbsp;&nbsp; 29052 | 28558142 |
| 4.95%, 03/31/30<sup>(a)</sup> | &nbsp;&nbsp; 25988 | 25966900 |
| 5.25%, 03/14/44<sup>(a)</sup> | &nbsp;&nbsp; 7517 | 7135237 |
| 5.40%, 08/11/33, <br> (1-day SOFR + 2.870%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 16265 | 16343236 |
| 5.55%, 03/04/30, (1-day SOFR + 1.460%)<sup>(c)</sup> | &nbsp;&nbsp; 16617 | 16880629 |
| 5.72%, 03/04/35, <br> (1-day SOFR + 1.780%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 9175 | 9410776 |
| 5.73%, 05/17/32, (1-day SOFR + 1.520%)<sup>(c)</sup> | &nbsp;&nbsp; 15267 | 15644109 |
| 6.10%, 01/14/42<sup>(a)</sup> | &nbsp;&nbsp; 3839 | 4208752 |
| 6.16%, 03/09/29, <br> (1-day SOFR + 1.970%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 20071 | 20760055 |
| 6.25%, 03/09/34, <br> (1-day SOFR + 2.390%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 15070 | 15957924 |
| 6.33%, 03/09/44, <br> (1-day SOFR + 2.650%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 18599 | 20128533 |
| 6.50%, 05/02/36 | &nbsp;&nbsp; 10302 | 11113614 |
| 6.50%, 09/15/37<sup>(a)</sup> | &nbsp;&nbsp; 17669 | 18801906 |
| 6.80%, 06/01/38<sup>(a)</sup> | &nbsp;&nbsp; 2802 | 3075544 |
| 7.39%, 11/03/28, (1-day SOFR + 3.350%)<sup>(c)</sup> | &nbsp;&nbsp; 21988 | 23423399 |
| Huntington Bancshares Inc./Ohio |  |  |
| 2.55%, 02/04/30<sup>(a)</sup> | &nbsp;&nbsp; 3970 | 3502686 |
| 5.71%, 02/02/35, <br> (1-day SOFR Index + 1.870%)<sup>(c)</sup><br>| &nbsp;&nbsp; 4541 | 4587850 |
| 6.21%, 08/21/29, (1-day SOFR + 2.020%)<sup>(c)</sup> | &nbsp;&nbsp; 7030 | 7292916 |
| Huntington National Bank (The), 5.65%, <br> 01/10/30<sup>(a)</sup><br>| &nbsp;&nbsp; 4298 | 4389284 |
| ING Groep NV |  |  |
| 2.73%, 04/01/32, <br> (1-day SOFR + 1.316%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3737 | 3246224 |
| 4.05%, 04/09/29 | &nbsp;&nbsp; 13415 | 12978464 |
| 4.25%, 03/28/33, (1-day SOFR + 2.070%)<sup>(c)</sup> | &nbsp;&nbsp; 2726 | 2561832 |
| 4.55%, 10/02/28<sup>(a)</sup> | &nbsp;&nbsp; 16764 | 16555437 |
| 5.34%, 03/19/30, <br> (1-day SOFR + 1.440%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 18016 | 18237186 |
| 5.55%, 03/19/35, (1-day SOFR + 1.770%)<sup>(c)</sup> | &nbsp;&nbsp; 9064 | 9143480 |
| 6.11%, 09/11/34, <br> (1-day SOFR + 2.090%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 5182 | 5447811 |
| JPMorgan Chase & Co. |  |  |
| 1.76%, 11/19/31, <br> (3-mo. CME Term SOFR + 1.105%)<sup>(c)</sup><br>| &nbsp;&nbsp; 6155 | 5132995 |
| 1.95%, 02/04/32, (1-day SOFR + 1.065%)<sup>(c)</sup> | &nbsp;&nbsp; 19424 | 16247121 |
| 2.07%, 06/01/29, (1-day SOFR + 1.015%)<sup>(c)</sup> | &nbsp;&nbsp; 10588 | 9621683 |
| 2.52%, 04/22/31, (1-day SOFR + 2.040%)<sup>(c)</sup> | &nbsp;&nbsp; 15867 | 14024917 |
| 2.53%, 11/19/41, <br> (3-mo. CME Term SOFR + 1.510%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 14595 | 10208461 |
| 2.55%, 11/08/32, (1-day SOFR + 1.180%)<sup>(c)</sup> | &nbsp;&nbsp; 26049 | 22219292 |
| 2.58%, 04/22/32, <br> (3-mo. CME Term SOFR + 1.250%)<sup>(c)</sup><br>| &nbsp;&nbsp; 22534 | 19524967 |
| 2.74%, 10/15/30, <br> (3-mo. CME Term SOFR + 1.510%)<sup>(c)</sup><br>| &nbsp;&nbsp; 27354 | 24744576 |
| 2.96%, 01/25/33, (1-day SOFR + 1.260%)<sup>(c)</sup> | &nbsp;&nbsp; 34389 | 30002865 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 3.11%, 04/22/41, <br> (3-mo. CME Term SOFR + 2.460%)<sup>(c)</sup><br>| &nbsp;&nbsp; $14099 | $10822222 |
| 3.11%, 04/22/51, <br> (1-day SOFR + 2.440%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 21462 | 14934401 |
| 3.16%, 04/22/42, (1-day SOFR + 1.460%)<sup>(c)</sup> | &nbsp;&nbsp; 19447 | 14779195 |
| 3.33%, 04/22/52, <br> (1-day SOFR + 1.580%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 28781 | 20821957 |
| 3.51%, 01/23/29, <br> (3-mo. CME Term SOFR + 1.207%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 10946 | 10520907 |
| 3.70%, 05/06/30, <br> (3-mo. CME Term SOFR + 1.422%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 14710 | 13985588 |
| 3.88%, 07/24/38, <br> (3-mo. CME Term SOFR + 1.622%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 18826 | 16343709 |
| 3.90%, 01/23/49, <br> (3-mo. CME Term SOFR + 1.482%)<sup>(c)</sup><br>| &nbsp;&nbsp; 16294 | 13150860 |
| 3.96%, 11/15/48, <br> (3-mo. CME Term SOFR + 1.642%)<sup>(c)</sup><br>| &nbsp;&nbsp; 29327 | 23924107 |
| 4.01%, 04/23/29, <br> (3-mo. CME Term SOFR + 1.382%)<sup>(c)</sup><br>| &nbsp;&nbsp; 12015 | 11687493 |
| 4.03%, 07/24/48, <br> (3-mo. CME Term SOFR + 1.722%)<sup>(c)</sup><br>| &nbsp;&nbsp; 13666 | 11267909 |
| 4.20%, 07/23/29, <br> (3-mo. CME Term SOFR + 1.522%)<sup>(c)</sup><br>| &nbsp;&nbsp; 14448 | 14123788 |
| 4.26%, 02/22/48, <br> (3-mo. CME Term SOFR + 1.842%)<sup>(c)</sup><br>| &nbsp;&nbsp; 17877 | 15326496 |
| 4.45%, 12/05/29, <br> (3-mo. CME Term SOFR + 1.592%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 15217 | 14971535 |
| 4.49%, 03/24/31, <br> (3-mo. CME Term SOFR + 3.790%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 24129 | 23540178 |
| 4.57%, 06/14/30, (1-day SOFR + 1.750%)<sup>(c)</sup> | &nbsp;&nbsp; 11521 | 11350546 |
| 4.59%, 04/26/33, (1-day SOFR + 1.800%)<sup>(c)</sup> | &nbsp;&nbsp; 20462 | 19854968 |
| 4.60%, 10/22/30, (1-day SOFR + 1.040%)<sup>(c)</sup> | &nbsp;&nbsp; 21198 | 20897862 |
| 4.85%, 02/01/44 | &nbsp;&nbsp; 9597 | 9115489 |
| 4.91%, 07/25/33, (1-day SOFR + 2.080%)<sup>(c)</sup> | &nbsp;&nbsp; 30885 | 30517607 |
| 4.95%, 10/22/35, (1-day SOFR + 1.340%)<sup>(c)</sup> | &nbsp;&nbsp; 9660 | 9459578 |
| 4.95%, 06/01/45 | &nbsp;&nbsp; 16197 | 15275376 |
| 5.00%, 07/22/30, (1-day SOFR +1.125%)<sup>(c)</sup> | &nbsp;&nbsp; 18909 | 18955096 |
| 5.01%, 01/23/30, (1-day SOFR + 1.310%)<sup>(c)</sup> | &nbsp;&nbsp; 16446 | 16496838 |
| 5.29%, 07/22/35, <br> (1-day SOFR + 1.460%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 29459 | 29605155 |
| 5.30%, 07/24/29, (1-day SOFR + 1.450%)<sup>(c)</sup> | &nbsp;&nbsp; 12265 | 12443203 |
| 5.34%, 01/23/35, (1-day SOFR + 1.620%)<sup>(c)</sup> | &nbsp;&nbsp; 25104 | 25330333 |
| 5.35%, 06/01/34, (1-day SOFR + 1.845%)<sup>(c)</sup> | &nbsp;&nbsp; 35817 | 36224440 |
| 5.40%, 01/06/42 | &nbsp;&nbsp; 11596 | 11741638 |
| 5.50%, 10/15/40<sup>(a)</sup> | &nbsp;&nbsp; 11814 | 12104389 |
| 5.58%, 04/22/30, (1-day SOFR +1.160%)<sup>(c)</sup> | &nbsp;&nbsp; 18122 | 18610874 |
| 5.60%, 07/15/41<sup>(a)</sup> | &nbsp;&nbsp; 15060 | 15580713 |
| 5.63%, 08/16/43<sup>(a)</sup> | &nbsp;&nbsp; 12046 | 12459301 |
| 5.77%, 04/22/35, (1-day SOFR + 1.490%)<sup>(c)</sup> | &nbsp;&nbsp; 25495 | 26542855 |
| 6.09%, 10/23/29, (1-day SOFR + 1.570%)<sup>(c)</sup> | &nbsp;&nbsp; 12623 | 13161756 |
| 6.25%, 10/23/34, (1-day SOFR + 1.810%)<sup>(c)</sup> | &nbsp;&nbsp; 25135 | 27011504 |
| 6.40%, 05/15/38 | &nbsp;&nbsp; 19509 | 21813267 |
| KeyBank NA, 5.00%, 01/26/33<sup>(a)</sup> | &nbsp;&nbsp; 4613 | 4450175 |
| KeyBank NA/Cleveland OH, 4.90%, 08/08/32<sup>(a)</sup> | &nbsp;&nbsp; 3153 | 3010118 |
| KeyCorp |  |  |
| 2.55%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4520 | 4020043 |
| 4.10%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; 8591 | 8335086 |
| 4.79%, 06/01/33, <br> (1-day SOFR Index + 2.060%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 2189 | 2086213 |
| 6.40%, 03/06/35, <br> (1-day SOFR Index + 2.420%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 5757 | 6073217 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Lloyds Banking Group PLC |  |  |
| 3.57%, 11/07/28, <br> (3-mo. LIBOR US + 1.205%)<sup>(c)</sup><br>| &nbsp;&nbsp; $18103 | $17415387 |
| 4.34%, 01/09/48<sup>(a)</sup> | &nbsp;&nbsp; 5897 | 4787474 |
| 4.38%, 03/22/28<sup>(a)</sup> | &nbsp;&nbsp; 14038 | 13787853 |
| 4.55%, 08/16/28<sup>(a)</sup> | &nbsp;&nbsp; 13895 | 13726443 |
| 4.98%, 08/11/33, <br> (1-year CMT + 2.300%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 16533 | 16100975 |
| 5.30%, 12/01/45<sup>(a)</sup> | &nbsp;&nbsp; 3002 | 2827974 |
| 5.68%, 01/05/35, (1-year CMT + 1.750%)<sup>(c)</sup> | &nbsp;&nbsp; 19859 | 20104829 |
| 5.72%, 06/05/30, <br> (1-year CMT + 1.070%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 14542 | 14888636 |
| 5.87%, 03/06/29, <br> (1-year CMT + 1.700%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 13558 | 13910292 |
| M&T Bank Corp. |  |  |
| 5.05%, 01/27/34, (1-day SOFR + 1.850%)<sup>(c)</sup> | &nbsp;&nbsp; 1969 | 1901230 |
| 6.08%, 03/13/32, (1-day SOFR + 2.260%)<sup>(c)</sup> | &nbsp;&nbsp; 2910 | 3006672 |
| 7.41%, 10/30/29, (1-day SOFR + 2.800%)<sup>(c)</sup> | &nbsp;&nbsp; 9097 | 9791257 |
| Manufacturers & Traders Trust Co., 4.70%, <br> 01/27/28<br>| &nbsp;&nbsp; 1883 | 1865142 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 2.05%, 07/17/30 | &nbsp;&nbsp; 18389 | 15815768 |
| 2.31%, 07/20/32, (1-year CMT + 0.950%)<sup>(c)</sup> | &nbsp;&nbsp; 18642 | 15811654 |
| 2.49%, 10/13/32, (1-year CMT + 0.970%)<sup>(c)</sup> | &nbsp;&nbsp; 2967 | 2528418 |
| 2.56%, 02/25/30<sup>(a)</sup> | &nbsp;&nbsp; 16520 | 14746659 |
| 2.85%, 01/19/33, (1-year CMT + 1.100%)<sup>(c)</sup> | &nbsp;&nbsp; 4306 | 3739206 |
| 3.20%, 07/18/29 | &nbsp;&nbsp; 19479 | 18160792 |
| 3.74%, 03/07/29<sup>(a)</sup> | &nbsp;&nbsp; 16037 | 15476164 |
| 3.75%, 07/18/39 | &nbsp;&nbsp; 5078 | 4366608 |
| 3.96%, 03/02/28<sup>(a)</sup> | &nbsp;&nbsp; 7268 | 7127023 |
| 4.05%, 09/11/28<sup>(a)</sup> | &nbsp;&nbsp; 11511 | 11291255 |
| 5.13%, 07/20/33, (1-year CMT + 2.125%)<sup>(c)</sup> | &nbsp;&nbsp; 7218 | 7245974 |
| 5.26%, 04/17/30, (1-year CMT + 0.820%)<sup>(c)</sup> | &nbsp;&nbsp; 11134 | 11299343 |
| 5.41%, 04/19/34, <br> (1-year CMT + 1.970%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 4076 | 4180899 |
| 5.42%, 02/22/29, <br> (1-year CMT + 1.380%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 11666 | 11888884 |
| 5.43%, 04/17/35, <br> (1-year CMT + 1.000%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 9958 | 10123456 |
| 5.44%, 02/22/34, <br> (1-year CMT + 1.630%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 6154 | 6317369 |
| 5.47%, 09/13/33, <br> (1-year CMT + 2.125%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1780 | 1832368 |
| Mizuho Financial Group Inc. |  |  |
| 1.98%, 09/08/31, <br> (3-mo. CME Term SOFR + 1.532%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 9115 | 7684575 |
| 2.20%, 07/10/31, <br> (3-mo. CME Term SOFR + 1.772%)<sup>(c)</sup><br>| &nbsp;&nbsp; 8772 | 7539279 |
| 2.56%, 09/13/31 | &nbsp;&nbsp; 4622 | 3885109 |
| 3.15%, 07/16/30, <br> (3-mo. CME Term SOFR + 1.392%)<sup>(c)</sup><br>| &nbsp;&nbsp; 9615 | 8867162 |
| 4.02%, 03/05/28<sup>(a)</sup> | &nbsp;&nbsp; 7974 | 7800470 |
| 4.25%, 09/11/29, <br> (3-mo. CME Term SOFR + 1.532%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 11954 | 11676300 |
| 5.38%, 05/26/30, (1-year CMT + 1.120%)<sup>(c)</sup> | &nbsp;&nbsp; 8290 | 8419085 |
| 5.38%, 07/10/30, <br> (1-year CMT + 1.080%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 10778 | 10962712 |
| 5.58%, 05/26/35, <br> (1-year CMT + 1.300%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3317 | 3398879 |
| 5.67%, 05/27/29, (1-year CMT + 1.500%)<sup>(c)</sup> | &nbsp;&nbsp; 11235 | 11512078 |
| 5.67%, 09/13/33, (1-year CMT + 2.400%)<sup>(c)</sup> | &nbsp;&nbsp; 994 | 1022804 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.75%, 05/27/34, (1-year CMT + 1.800%)<sup>(c)</sup> | &nbsp;&nbsp; $3107 | $3218437 |
| 5.75%, 07/06/34, (1-year CMT + 1.900%)<sup>(c)</sup> | &nbsp;&nbsp; 3731 | 3865102 |
| 5.78%, 07/06/29, (1-year CMT + 1.650%)<sup>(c)</sup> | &nbsp;&nbsp; 14592 | 14990338 |
| Morgan Stanley |  |  |
| 1.79%, 02/13/32, (1-day SOFR + 1.034%)<sup>(c)</sup> | &nbsp;&nbsp; 23766 | 19595968 |
| 1.93%, 04/28/32, (1-day SOFR + 1.020%)<sup>(c)</sup> | &nbsp;&nbsp; 21062 | 17389885 |
| 2.24%, 07/21/32, <br> (1-day SOFR + 1.178%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 28389 | 23774439 |
| 2.51%, 10/20/32, <br> (1-day SOFR + 1.200%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 20709 | 17570048 |
| 2.70%, 01/22/31, (1-day SOFR + 1.143%)<sup>(c)</sup> | &nbsp;&nbsp; 32804 | 29328413 |
| 2.80%, 01/25/52, <br> (1-day SOFR + 1.430%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 18052 | 11802295 |
| 2.94%, 01/21/33, <br> (1-day SOFR + 1.290%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 25684 | 22303495 |
| 3.22%, 04/22/42, <br> (1-day SOFR + 1.485%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 16262 | 12500331 |
| 3.62%, 04/01/31, (1-day SOFR + 3.120%)<sup>(c)</sup> | &nbsp;&nbsp; 25433 | 23813818 |
| 3.77%, 01/24/29, <br> (3-mo. CME Term SOFR + 1.402%)<sup>(c)</sup><br>| &nbsp;&nbsp; 18010 | 17424997 |
| 3.97%, 07/22/38<sup>(a)(c)</sup> | &nbsp;&nbsp; 12903 | 11210781 |
| 4.30%, 01/27/45 | &nbsp;&nbsp; 20841 | 18168792 |
| 4.38%, 01/22/47 | &nbsp;&nbsp; 20619 | 18058772 |
| 4.43%, 01/23/30, <br> (3-mo. CME Term SOFR + 1.89%)<sup>(c)</sup><br>| &nbsp;&nbsp; 19827 | 19428356 |
| 4.46%, 04/22/39, <br> (3-mo. CME Term SOFR + 1.693%)<sup>(c)</sup><br>| &nbsp;&nbsp; 7358 | 6754885 |
| 4.65%, 10/18/30, (1-day SOFR +1.100%)<sup>(c)</sup> | &nbsp;&nbsp; 26794 | 26429119 |
| 4.89%, 07/20/33, (1-day SOFR + 2.076%)<sup>(c)</sup> | &nbsp;&nbsp; 18424 | 18123928 |
| 5.04%, 07/19/30, (1-day SOFR +1.215%)<sup>(c)</sup> | &nbsp;&nbsp; 14255 | 14302281 |
| 5.12%, 02/01/29, (1-day SOFR + 1.730%)<sup>(c)</sup> | &nbsp;&nbsp; 12791 | 12884234 |
| 5.16%, 04/20/29, (1-day SOFR + 1.590%)<sup>(c)</sup> | &nbsp;&nbsp; 16177 | 16298342 |
| 5.17%, 01/16/30, (1-day SOFR + 1.450%)<sup>(c)</sup> | &nbsp;&nbsp; 13964 | 14066684 |
| 5.25%, 04/21/34, (1-day SOFR + 1.870%)<sup>(c)</sup> | &nbsp;&nbsp; 27612 | 27632919 |
| 5.32%, 07/19/35, (1-day SOFR +1.555%)<sup>(c)</sup> | &nbsp;&nbsp; 28919 | 29022490 |
| 5.42%, 07/21/34, (1-day SOFR + 1.880%)<sup>(c)</sup> | &nbsp;&nbsp; 21451 | 21674972 |
| 5.45%, 07/20/29, (1-day SOFR + 1.630%)<sup>(c)</sup> | &nbsp;&nbsp; 11624 | 11833405 |
| 5.47%, 01/18/35, (1-day SOFR + 1.730%)<sup>(c)</sup> | &nbsp;&nbsp; 23660 | 23969953 |
| 5.60%, 03/24/51, <br> (1-day SOFR + 4.840%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 14421 | 14995641 |
| 5.66%, 04/18/30, (1-day SOFR +1.260%)<sup>(c)</sup> | &nbsp;&nbsp; 15574 | 15969461 |
| 5.83%, 04/19/35, (1-day SOFR +1.580%)<sup>(c)</sup> | &nbsp;&nbsp; 25807 | 26880347 |
| 6.34%, 10/18/33, (1-day SOFR + 2.560%)<sup>(c)</sup> | &nbsp;&nbsp; 21062 | 22663034 |
| 6.38%, 07/24/42<sup>(a)</sup> | &nbsp;&nbsp; 15443 | 17334151 |
| 6.41%, 11/01/29, (1-day SOFR + 1.830%)<sup>(c)</sup> | &nbsp;&nbsp; 11770 | 12397319 |
| 6.63%, 11/01/34, (1-day SOFR + 2.050%)<sup>(c)</sup> | &nbsp;&nbsp; 18750 | 20539151 |
| 7.25%, 04/01/32 | &nbsp;&nbsp; 11366 | 13017879 |
| National Australia Bank Ltd./New York |  |  |
| 4.79%, 01/10/29<sup>(a)</sup> | &nbsp;&nbsp; 2090 | 2109534 |
| 4.90%, 06/13/28<sup>(a)</sup> | &nbsp;&nbsp; 1129 | 1138364 |
| National Bank of Canada |  |  |
| 4.50%, 10/10/29 | &nbsp;&nbsp; 386 | 377652 |
| 5.60%, 12/18/28 | &nbsp;&nbsp; 616 | 632911 |
| NatWest Group PLC |  |  |
| 4.45%, 05/08/30, <br> (3-mo. LIBOR US + 1.871%)<sup>(c)</sup><br>| &nbsp;&nbsp; 14236 | 13827867 |
| 4.89%, 05/18/29, <br> (3-mo. LIBOR US + 1.754%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 16648 | 16535132 |
| 4.96%, 08/15/30, (1-year CMT + 1.220%)<sup>(c)</sup> | &nbsp;&nbsp; 15047 | 14936104 |
| 5.08%, 01/27/30, <br> (3-mo. LIBOR US + 1.905%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 17838 | 17772526 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.78%, 03/01/35, <br> (1-year CMT + 1.500%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; $7261 | $7407607 |
| 5.81%, 09/13/29, (1-year CMT + 1.950%)<sup>(c)</sup> | &nbsp;&nbsp; 12750 | 13071042 |
| 6.02%, 03/02/34, <br> (1-year CMT + 2.100%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3736 | 3906695 |
| Northern Trust Corp. |  |  |
| 1.95%, 05/01/30 | &nbsp;&nbsp; 6476 | 5621241 |
| 6.13%, 11/02/32<sup>(a)</sup> | &nbsp;&nbsp; 2670 | 2852348 |
| PNC Bank NA |  |  |
| 2.70%, 10/22/29 | &nbsp;&nbsp; 11642 | 10422168 |
| 4.05%, 07/26/28 | &nbsp;&nbsp; 13849 | 13496177 |
| PNC Financial Services Group Inc. (The) |  |  |
| 2.31%, 04/23/32, <br> (1-day SOFR + 0.979%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 10128 | 8619311 |
| 2.55%, 01/22/30<sup>(a)</sup> | &nbsp;&nbsp; 20496 | 18313117 |
| 3.45%, 04/23/29<sup>(a)</sup> | &nbsp;&nbsp; 18329 | 17399877 |
| 4.81%, 10/21/32, (1-day SOFR +1.259%)<sup>(c)</sup> | &nbsp;&nbsp; 9872 | 9685775 |
| 5.07%, 01/24/34, (1-day SOFR + 1.933%)<sup>(c)</sup> | &nbsp;&nbsp; 10770 | 10620049 |
| 5.35%, 12/02/28, (1-day SOFR + 1.620%)<sup>(c)</sup> | &nbsp;&nbsp; 12238 | 12420688 |
| 5.40%, 07/23/35, (1-day SOFR +1.599%)<sup>(c)</sup> | &nbsp;&nbsp; 10406 | 10489558 |
| 5.49%, 05/14/30, (1-day SOFR + 1.198%)<sup>(c)</sup> | &nbsp;&nbsp; 16809 | 17153632 |
| 5.58%, 06/12/29, <br> (1-day SOFR + 1.841%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 20142 | 20571999 |
| 5.68%, 01/22/35, (1-day SOFR + 1.902%)<sup>(c)</sup> | &nbsp;&nbsp; 8331 | 8548613 |
| 5.94%, 08/18/34, <br> (1-day SOFR + 1.946%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 2866 | 2994111 |
| 6.04%, 10/28/33, <br> (1-day SOFR Index + 2.140%)<sup>(c)</sup><br>| &nbsp;&nbsp; 9153 | 9595257 |
| 6.88%, 10/20/34, (1-day SOFR + 2.284%)<sup>(c)</sup> | &nbsp;&nbsp; 15643 | 17365254 |
| Regions Financial Corp. |  |  |
| 5.50%, 09/06/35, (1-day SOFR +2.060%)<sup>(c)</sup> | &nbsp;&nbsp; 5783 | 5733755 |
| 5.72%, 06/06/30, <br> (1-day SOFR +1.490%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 2175 | 2209280 |
| Royal Bank of Canada |  |  |
| 2.30%, 11/03/31 | &nbsp;&nbsp; 9392 | 7991555 |
| 3.88%, 05/04/32 | &nbsp;&nbsp; 6081 | 5697293 |
| 4.65%, 10/18/30, <br> (1-day SOFR Index + 1.080%)<sup>(c)</sup><br>| &nbsp;&nbsp; 11561 | 11425435 |
| 4.95%, 02/01/29 | &nbsp;&nbsp; 11570 | 11674769 |
| 4.97%, 08/02/30, <br> (1-day SOFR +1.000%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 12357 | 12370390 |
| 5.00%, 02/01/33 | &nbsp;&nbsp; 13323 | 13326922 |
| 5.00%, 05/02/33 | &nbsp;&nbsp; 6308 | 6291934 |
| 5.15%, 02/01/34 | &nbsp;&nbsp; 7932 | 7970204 |
| 5.20%, 08/01/28 | &nbsp;&nbsp; 8603 | 8741205 |
| Santander Holdings USA Inc. |  |  |
| 5.35%, 09/06/30, (1-day SOFR + 1.940%)<sup>(c)</sup> | &nbsp;&nbsp; 8932 | 8838996 |
| 6.17%, 01/09/30, (1-day SOFR + 2.500%)<sup>(c)</sup> | &nbsp;&nbsp; 8489 | 8690862 |
| 6.34%, 05/31/35, <br> (1-day SOFR + 2.138%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 3443 | 3512976 |
| 6.50%, 03/09/29, (1-day SOFR + 2.356%)<sup>(c)</sup> | &nbsp;&nbsp; 7217 | 7442238 |
| Santander U.K. Group Holdings PLC |  |  |
| 3.82%, 11/03/28, <br> (3-mo. LIBOR US + 1.400%)<sup>(c)</sup><br>| &nbsp;&nbsp; 2175 | 2096029 |
| 4.86%, 09/11/30, <br> (1-day SOFR Index + 1.554%)<sup>(c)</sup><br>| &nbsp;&nbsp; 15225 | 14987723 |
| 6.53%, 01/10/29, <br> (1-day SOFR + 2.600%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 4744 | 4934713 |
| State Street Corp. |  |  |
| 2.20%, 03/03/31<sup>(a)</sup> | &nbsp;&nbsp; 1283 | 1104021 |
| 2.40%, 01/24/30<sup>(a)</sup> | &nbsp;&nbsp; 6703 | 5980258 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 1.90%, 09/17/28 | &nbsp;&nbsp; $20612 | $18508525 |
| 2.13%, 07/08/30<sup>(a)</sup> | &nbsp;&nbsp; 17943 | 15448417 |
| 2.14%, 09/23/30<sup>(a)</sup> | &nbsp;&nbsp; 10117 | 8623922 |
| 2.22%, 09/17/31 | &nbsp;&nbsp; 5677 | 4753593 |
| 2.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 14021 | 12616606 |
| 2.93%, 09/17/41<sup>(a)</sup> | &nbsp;&nbsp; 4313 | 3177425 |
| 3.04%, 07/16/29<sup>(a)</sup> | &nbsp;&nbsp; 25602 | 23648268 |
| 3.54%, 01/17/28 | &nbsp;&nbsp; 4691 | 4521080 |
| 3.94%, 07/19/28<sup>(a)</sup> | &nbsp;&nbsp; 7297 | 7106229 |
| 5.32%, 07/09/29<sup>(a)</sup> | &nbsp;&nbsp; 10520 | 10731002 |
| 5.42%, 07/09/31 | &nbsp;&nbsp; 9133 | 9319725 |
| 5.52%, 01/13/28<sup>(a)</sup> | &nbsp;&nbsp; 5573 | 5695424 |
| 5.56%, 07/09/34<sup>(a)</sup> | &nbsp;&nbsp; 12202 | 12540831 |
| 5.71%, 01/13/30 | &nbsp;&nbsp; 14250 | 14742566 |
| 5.72%, 09/14/28<sup>(a)</sup> | &nbsp;&nbsp; 12525 | 12908060 |
| 5.77%, 01/13/33<sup>(a)</sup> | &nbsp;&nbsp; 11744 | 12245446 |
| 5.80%, 07/13/28<sup>(a)</sup> | &nbsp;&nbsp; 8870 | 9167720 |
| 5.81%, 09/14/33<sup>(a)</sup> | &nbsp;&nbsp; 4508 | 4737358 |
| 5.84%, 07/09/44 | &nbsp;&nbsp; 4905 | 5047532 |
| 6.18%, 07/13/43<sup>(a)</sup> | &nbsp;&nbsp; 2414 | 2653082 |
| Toronto-Dominion Bank (The) |  |  |
| 2.00%, 09/10/31<sup>(a)</sup> | &nbsp;&nbsp; 4970 | 4155368 |
| 3.20%, 03/10/32 | &nbsp;&nbsp; 10867 | 9598172 |
| 4.46%, 06/08/32<sup>(a)</sup> | &nbsp;&nbsp; 10326 | 9909996 |
| 4.99%, 04/05/29 | &nbsp;&nbsp; 11441 | 11494063 |
| 5.52%, 07/17/28 | &nbsp;&nbsp; 5653 | 5785763 |
| Truist Bank, 2.25%, 03/11/30 | &nbsp;&nbsp; 13358 | 11482111 |
| Truist Financial Corp. |  |  |
| 1.89%, 06/07/29, <br> (1-day SOFR + 0.862%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 12778 | 11488414 |
| 1.95%, 06/05/30 | &nbsp;&nbsp; 10616 | 9071430 |
| 4.87%, 01/26/29, (1-day SOFR + 1.435%)<sup>(c)</sup> | &nbsp;&nbsp; 15835 | 15762102 |
| 5.12%, 01/26/34, (1-day SOFR + 1.852%)<sup>(c)</sup> | &nbsp;&nbsp; 7503 | 7353282 |
| 5.15%, 08/05/32, (1-day SOFR + 1.571%)<sup>(c)</sup> | &nbsp;&nbsp; 10984 | 10896577 |
| 5.44%, 01/24/30, (1-day SOFR + 1.620%)<sup>(c)</sup> | &nbsp;&nbsp; 15393 | 15567440 |
| 5.71%, 01/24/35, (1-day SOFR + 1.922%)<sup>(c)</sup> | &nbsp;&nbsp; 12344 | 12554575 |
| 5.87%, 06/08/34, (1-day SOFR + 2.361%)<sup>(c)</sup> | &nbsp;&nbsp; 10163 | 10439476 |
| 6.12%, 10/28/33, (1-day SOFR + 2.300%)<sup>(c)</sup> | &nbsp;&nbsp; 1315 | 1376874 |
| 7.16%, 10/30/29, (1-day SOFR + 2.446%)<sup>(c)</sup> | &nbsp;&nbsp; 17225 | 18441371 |
| U.S. Bancorp |  |  |
| 1.38%, 07/22/30<sup>(a)</sup> | &nbsp;&nbsp; 13498 | 11186760 |
| 2.68%, 01/27/33, <br> (1-day SOFR + 1.020%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 1649 | 1403384 |
| 3.00%, 07/30/29 | &nbsp;&nbsp; 9326 | 8556456 |
| 3.90%, 04/26/28 | &nbsp;&nbsp; 12362 | 11988633 |
| 4.65%, 02/01/29, <br> (1-day SOFR + 1.230%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 17054 | 16950666 |
| 4.84%, 02/01/34, (1-day SOFR + 1.600%)<sup>(c)</sup> | &nbsp;&nbsp; 12466 | 12064748 |
| 5.10%, 07/23/30, <br> (1-day SOFR +1.250%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 13877 | 13934537 |
| 5.38%, 01/23/30, (1-day SOFR + 1.560%)<sup>(c)</sup> | &nbsp;&nbsp; 14246 | 14459555 |
| 5.68%, 01/23/35, <br> (1-day SOFR + 1.860%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 12519 | 12836146 |
| 5.78%, 06/12/29, (1-day SOFR + 2.020%)<sup>(c)</sup> | &nbsp;&nbsp; 18040 | 18547148 |
| 5.84%, 06/12/34, (1-day SOFR + 2.260%)<sup>(c)</sup> | &nbsp;&nbsp; 9977 | 10307710 |
| 5.85%, 10/21/33, (1-day SOFR + 2.090%)<sup>(c)</sup> | &nbsp;&nbsp; 10311 | 10681129 |
| UBS AG/London |  |  |
| 4.50%, 06/26/48<sup>(a)</sup> | &nbsp;&nbsp; 6995 | 6243277 |
| 5.65%, 09/11/28 | &nbsp;&nbsp; 10928 | 11250661 |
| UBS AG/Stamford CT, 7.50%, 02/15/28 | &nbsp;&nbsp; 13137 | 14164740 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| UBS Group AG, 4.88%, 05/15/45 | &nbsp;&nbsp; $15677 | $14462407 |
| Wachovia Corp., 5.50%, 08/01/35<sup>(a)</sup> | &nbsp;&nbsp; 5123 | 5188414 |
| Wells Fargo & Co. |  |  |
| 2.57%, 02/11/31, <br> (3-mo. CME Term SOFR + 1.262%)<sup>(c)</sup><br>| &nbsp;&nbsp; 19483 | 17324819 |
| 2.88%, 10/30/30, <br> (3-mo. CME Term SOFR + 1.432%)<sup>(c)</sup><br>| &nbsp;&nbsp; 26103 | 23644946 |
| 3.07%, 04/30/41, (1-day SOFR + 2.530%)<sup>(c)</sup> | &nbsp;&nbsp; 36032 | 27069274 |
| 3.35%, 03/02/33, (1-day SOFR + 1.500%)<sup>(c)</sup> | &nbsp;&nbsp; 34062 | 30274987 |
| 3.90%, 05/01/45<sup>(a)</sup> | &nbsp;&nbsp; 17390 | 14229926 |
| 4.15%, 01/24/29 | &nbsp;&nbsp; 12988 | 12694428 |
| 4.40%, 06/14/46 | &nbsp;&nbsp; 15598 | 12911321 |
| 4.48%, 04/04/31, <br> (3-mo. CME Term SOFR + 4.032%)<sup>(c)</sup><br>| &nbsp;&nbsp; 14120 | 13779619 |
| 4.61%, 04/25/53, <br> (1-day SOFR + 2.130%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 26968 | 23727468 |
| 4.65%, 11/04/44<sup>(a)</sup> | &nbsp;&nbsp; 15235 | 13194659 |
| 4.75%, 12/07/46 | &nbsp;&nbsp; 15320 | 13364377 |
| 4.90%, 07/25/33, (1-day SOFR + 2.100%)<sup>(c)</sup> | &nbsp;&nbsp; 35071 | 34371407 |
| 4.90%, 11/17/45 | &nbsp;&nbsp; 16951 | 15151672 |
| 5.01%, 04/04/51, <br> (3-mo. CME Term SOFR + 4.502%)<sup>(c)</sup><br>| &nbsp;&nbsp; 46399 | 43435227 |
| 5.20%, 01/23/30, (1-day SOFR + 1.500%)<sup>(c)</sup> | &nbsp;&nbsp; 15576 | 15710792 |
| 5.38%, 11/02/43 | &nbsp;&nbsp; 16667 | 15983990 |
| 5.39%, 04/24/34, (1-day SOFR + 2.020%)<sup>(c)</sup> | &nbsp;&nbsp; 30283 | 30465007 |
| 5.50%, 01/23/35, <br> (1-day SOFR + 1.780%)<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 28100 | 28510046 |
| 5.56%, 07/25/34, (1-day SOFR + 1.990%)<sup>(c)</sup> | &nbsp;&nbsp; 35794 | 36406804 |
| 5.57%, 07/25/29, (1-day SOFR + 1.740%)<sup>(c)</sup> | &nbsp;&nbsp; 23728 | 24210594 |
| 5.61%, 01/15/44 | &nbsp;&nbsp; 19346 | 19006549 |
| 6.30%, 10/23/29, (1-day SOFR + 1.790%)<sup>(c)</sup> | &nbsp;&nbsp; 14949 | 15649272 |
| 6.49%, 10/23/34, (1-day SOFR + 2.060%)<sup>(c)</sup> | &nbsp;&nbsp; 27654 | 29867664 |
| Wells Fargo Bank NA |  |  |
| 5.85%, 02/01/37 | &nbsp;&nbsp; 3936 | 4063030 |
| 6.60%, 01/15/38 | &nbsp;&nbsp; 8355 | 9279208 |
| Westpac Banking Corp. |  |  |
| 1.95%, 11/20/28 | &nbsp;&nbsp; 16079 | 14526632 |
| 2.15%, 06/03/31<sup>(a)</sup> | &nbsp;&nbsp; 12651 | 10875039 |
| 2.65%, 01/16/30<sup>(a)</sup> | &nbsp;&nbsp; 13086 | 11882498 |
| 2.96%, 11/16/40<sup>(a)</sup> | &nbsp;&nbsp; 3445 | 2508235 |
| 3.13%, 11/18/41<sup>(a)</sup> | &nbsp;&nbsp; 2159 | 1587310 |
| 3.40%, 01/25/28<sup>(a)</sup> | &nbsp;&nbsp; 4904 | 4745083 |
| 4.42%, 07/24/39 | &nbsp;&nbsp; 5921 | 5363405 |
| 5.05%, 04/16/29 | &nbsp;&nbsp; 8365 | 8521314 |
| 5.46%, 11/18/27 | &nbsp;&nbsp; 3046 | 3127920 |
| 5.54%, 11/17/28 | &nbsp;&nbsp; 13852 | 14385841 |
| 6.82%, 11/17/33 | &nbsp;&nbsp; 10835 | 11964946 |
|  |  | 6393954619 |
| **Beverages — 2.6%** | **Beverages — 2.6%** | **Beverages — 2.6%** |
| Anheuser-Busch <br> Companies LLC/Anheuser-Busch InBev <br> Worldwide Inc.<br>|  |  |
| 4.70%, 02/01/36 | &nbsp;&nbsp; 40952 | 39501062 |
| 4.90%, 02/01/46 | &nbsp;&nbsp; 76555 | 71451760 |
| Anheuser-Busch InBev Finance Inc. |  |  |
| 4.63%, 02/01/44 | &nbsp;&nbsp; 6882 | 6274792 |
| 4.90%, 02/01/46<sup>(a)</sup> | &nbsp;&nbsp; 16390 | 15244159 |
| Anheuser-Busch InBev Worldwide Inc. |  |  |
| 3.50%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 16253 | 15296152 |
| 4.00%, 04/13/28<sup>(a)</sup> | &nbsp;&nbsp; 8009 | 7874238 |
| 4.35%, 06/01/40 | &nbsp;&nbsp; 9112 | 8198240 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| 4.38%, 04/15/38<sup>(a)</sup> | &nbsp;&nbsp; $12399 | $11387666 |
| 4.44%, 10/06/48 | &nbsp;&nbsp; 18065 | 15723071 |
| 4.50%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp; 8453 | 7564323 |
| 4.60%, 04/15/48 | &nbsp;&nbsp; 12408 | 11266274 |
| 4.75%, 01/23/29<sup>(a)</sup> | &nbsp;&nbsp; 32627 | 32771998 |
| 4.75%, 04/15/58 | &nbsp;&nbsp; 6873 | 6194612 |
| 4.90%, 01/23/31 | &nbsp;&nbsp; 5417 | 5476636 |
| 4.95%, 01/15/42<sup>(a)</sup> | &nbsp;&nbsp; 15348 | 14654554 |
| 5.00%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 7636 | 7672511 |
| 5.45%, 01/23/39<sup>(a)</sup> | &nbsp;&nbsp; 15096 | 15343725 |
| 5.55%, 01/23/49<sup>(a)</sup> | &nbsp;&nbsp; 33115 | 33790606 |
| 5.80%, 01/23/59<sup>(a)</sup> | &nbsp;&nbsp; 14094 | 14959949 |
| 8.20%, 01/15/39<sup>(a)</sup> | &nbsp;&nbsp; 9176 | 11761120 |
| Coca-Cola Co. (The) |  |  |
| 1.00%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8579 | 7702886 |
| 1.38%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 11529 | 9503864 |
| 1.50%, 03/05/28<sup>(a)</sup> | &nbsp;&nbsp; 2264 | 2064108 |
| 1.65%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 16088 | 13812690 |
| 2.00%, 03/05/31 | &nbsp;&nbsp; 7544 | 6484045 |
| 2.13%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 7813 | 7033774 |
| 2.25%, 01/05/32<sup>(a)</sup> | &nbsp;&nbsp; 13707 | 11824627 |
| 2.50%, 06/01/40 | &nbsp;&nbsp; 2239 | 1611771 |
| 2.50%, 03/15/51 | &nbsp;&nbsp; 14701 | 9049846 |
| 2.60%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp; 13094 | 8299450 |
| 2.75%, 06/01/60<sup>(a)</sup> | &nbsp;&nbsp; 5441 | 3344589 |
| 2.88%, 05/05/41 | &nbsp;&nbsp; 5002 | 3746106 |
| 3.00%, 03/05/51<sup>(a)</sup> | &nbsp;&nbsp; 13759 | 9493665 |
| 3.45%, 03/25/30<sup>(a)</sup> | &nbsp;&nbsp; 12242 | 11630041 |
| 4.65%, 08/14/34 | &nbsp;&nbsp; 9436 | 9283604 |
| 5.00%, 05/13/34<sup>(a)</sup> | &nbsp;&nbsp; 9844 | 10010265 |
| 5.20%, 01/14/55 | &nbsp;&nbsp; 10819 | 10772001 |
| 5.30%, 05/13/54<sup>(a)</sup> | &nbsp;&nbsp; 9159 | 9238911 |
| 5.40%, 05/13/64 | &nbsp;&nbsp; 13697 | 13804983 |
| Constellation Brands Inc. |  |  |
| 2.25%, 08/01/31 | &nbsp;&nbsp; 14148 | 11919124 |
| 3.15%, 08/01/29 | &nbsp;&nbsp; 8776 | 8142583 |
| 4.90%, 05/01/33 | &nbsp;&nbsp; 9201 | 9013962 |
| Diageo Capital PLC |  |  |
| 2.00%, 04/29/30 | &nbsp;&nbsp; 11571 | 10047070 |
| 2.13%, 04/29/32 | &nbsp;&nbsp; 6100 | 5062266 |
| 2.38%, 10/24/29<sup>(a)</sup> | &nbsp;&nbsp; 12695 | 11429434 |
| 5.50%, 01/24/33 | &nbsp;&nbsp; 5542 | 5718998 |
| 5.63%, 10/05/33 | &nbsp;&nbsp; 7203 | 7500928 |
| Keurig Dr Pepper Inc. |  |  |
| 3.20%, 05/01/30 | &nbsp;&nbsp; 7404 | 6821532 |
| 3.80%, 05/01/50<sup>(a)</sup> | &nbsp;&nbsp; 3975 | 3054464 |
| 3.95%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8243 | 7968656 |
| 4.05%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 6258 | 5938481 |
| 4.50%, 04/15/52<sup>(a)</sup> | &nbsp;&nbsp; 7006 | 6029895 |
| 4.60%, 05/25/28<sup>(a)</sup> | &nbsp;&nbsp; 9939 | 9903563 |
| 5.05%, 03/15/29 | &nbsp;&nbsp; 8983 | 9069441 |
| Molson Coors Beverage Co. |  |  |
| 4.20%, 07/15/46 | &nbsp;&nbsp; 15054 | 12321509 |
| 5.00%, 05/01/42<sup>(a)</sup> | &nbsp;&nbsp; 10989 | 10298507 |
| PepsiCo Inc. |  |  |
| 1.40%, 02/25/31<sup>(a)</sup> | &nbsp;&nbsp; 7785 | 6418536 |
| 1.63%, 05/01/30 | &nbsp;&nbsp; 13051 | 11164133 |
| 1.95%, 10/21/31 | &nbsp;&nbsp; 12042 | 10117055 |
| 2.63%, 07/29/29<sup>(a)</sup> | &nbsp;&nbsp; 8492 | 7817361 |
| 2.63%, 10/21/41 | &nbsp;&nbsp; 6444 | 4573927 |
| 2.75%, 03/19/30 | &nbsp;&nbsp; 14557 | 13284443 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| 2.75%, 10/21/51<sup>(a)</sup> | &nbsp;&nbsp; $7026 | $4551403 |
| 2.88%, 10/15/49 | &nbsp;&nbsp; 7413 | 5023918 |
| 3.45%, 10/06/46 | &nbsp;&nbsp; 7628 | 5825407 |
| 3.60%, 02/18/28 | &nbsp;&nbsp; 3073 | 2998796 |
| 3.63%, 03/19/50 | &nbsp;&nbsp; 7542 | 5861373 |
| 3.90%, 07/18/32<sup>(a)</sup> | &nbsp;&nbsp; 11311 | 10754261 |
| 4.45%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6481 | 6539135 |
| 4.45%, 04/14/46<sup>(a)</sup> | &nbsp;&nbsp; 9031 | 8034008 |
| 4.50%, 07/17/29<sup>(a)</sup> | &nbsp;&nbsp; 7124 | 7147255 |
| 5.25%, 07/17/54<sup>(a)</sup> | &nbsp;&nbsp; 5182 | 5187725 |
|  |  | 766657823 |
| **Biotechnology — 1.8%** | **Biotechnology — 1.8%** | **Biotechnology — 1.8%** |
| Amgen Inc. |  |  |
| 1.65%, 08/15/28 | &nbsp;&nbsp; 7356 | 6591951 |
| 2.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8367 | 6885310 |
| 2.30%, 02/25/31<sup>(a)</sup> | &nbsp;&nbsp; 9985 | 8598223 |
| 2.45%, 02/21/30 | &nbsp;&nbsp; 10498 | 9352465 |
| 2.77%, 09/01/53 | &nbsp;&nbsp; 10019 | 6173552 |
| 2.80%, 08/15/41 | &nbsp;&nbsp; 7573 | 5451032 |
| 3.00%, 02/22/29<sup>(a)</sup> | &nbsp;&nbsp; 6808 | 6363653 |
| 3.00%, 01/15/52<sup>(a)</sup> | &nbsp;&nbsp; 8098 | 5402896 |
| 3.15%, 02/21/40 | &nbsp;&nbsp; 16221 | 12369192 |
| 3.35%, 02/22/32 | &nbsp;&nbsp; 8159 | 7366010 |
| 3.38%, 02/21/50<sup>(a)</sup> | &nbsp;&nbsp; 18028 | 13046593 |
| 4.05%, 08/18/29<sup>(a)</sup> | &nbsp;&nbsp; 7727 | 7494916 |
| 4.20%, 03/01/33 | &nbsp;&nbsp; 8799 | 8274851 |
| 4.20%, 02/22/52<sup>(a)</sup> | &nbsp;&nbsp; 8296 | 6721973 |
| 4.40%, 05/01/45 | &nbsp;&nbsp; 21376 | 18249542 |
| 4.40%, 02/22/62 | &nbsp;&nbsp; 8744 | 7078835 |
| 4.56%, 06/15/48 | &nbsp;&nbsp; 12827 | 11107419 |
| 4.66%, 06/15/51 | &nbsp;&nbsp; 28057 | 24511527 |
| 4.88%, 03/01/53<sup>(a)</sup> | &nbsp;&nbsp; 8118 | 7284906 |
| 5.15%, 03/02/28 | &nbsp;&nbsp; 22769 | 23057007 |
| 5.25%, 03/02/30 | &nbsp;&nbsp; 20360 | 20760121 |
| 5.25%, 03/02/33 | &nbsp;&nbsp; 32299 | 32592850 |
| 5.60%, 03/02/43<sup>(a)</sup> | &nbsp;&nbsp; 25194 | 25251782 |
| 5.65%, 03/02/53<sup>(a)</sup> | &nbsp;&nbsp; 31784 | 31936220 |
| 5.75%, 03/02/63 | &nbsp;&nbsp; 20474 | 20498640 |
| Biogen Inc. |  |  |
| 2.25%, 05/01/30 | &nbsp;&nbsp; 17058 | 14796631 |
| 3.15%, 05/01/50 | &nbsp;&nbsp; 11808 | 7756889 |
| 5.20%, 09/15/45 | &nbsp;&nbsp; 8590 | 7951828 |
| Gilead Sciences Inc. |  |  |
| 1.65%, 10/01/30 | &nbsp;&nbsp; 11195 | 9402321 |
| 2.60%, 10/01/40<sup>(a)</sup> | &nbsp;&nbsp; 7646 | 5430429 |
| 2.80%, 10/01/50<sup>(a)</sup> | &nbsp;&nbsp; 9079 | 5866651 |
| 4.00%, 09/01/36 | &nbsp;&nbsp; 3708 | 3330322 |
| 4.15%, 03/01/47 | &nbsp;&nbsp; 15442 | 12867840 |
| 4.50%, 02/01/45 | &nbsp;&nbsp; 11201 | 9893394 |
| 4.60%, 09/01/35<sup>(a)</sup> | &nbsp;&nbsp; 5553 | 5329973 |
| 4.75%, 03/01/46 | &nbsp;&nbsp; 18282 | 16674544 |
| 4.80%, 04/01/44 | &nbsp;&nbsp; 13402 | 12361190 |
| 5.25%, 10/15/33 | &nbsp;&nbsp; 7420 | 7571377 |
| 5.55%, 10/15/53<sup>(a)</sup> | &nbsp;&nbsp; 7718 | 7905631 |
| 5.65%, 12/01/41<sup>(a)</sup> | &nbsp;&nbsp; 7787 | 8005625 |
| Regeneron Pharmaceuticals Inc. |  |  |
| 1.75%, 09/15/30 | &nbsp;&nbsp; 12671 | 10657340 |
| 2.80%, 09/15/50 | &nbsp;&nbsp; 5470 | 3401561 |
| Royalty Pharma PLC |  |  |
| 2.20%, 09/02/30 | &nbsp;&nbsp; 12343 | 10535426 |
| 3.30%, 09/02/40 | &nbsp;&nbsp; 11897 | 8812114 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| 3.55%, 09/02/50<sup>(a)</sup> | &nbsp;&nbsp; $11445 | $7930615 |
|  |  | 508903167 |
| **Building Materials — 0.3%** | **Building Materials — 0.3%** | **Building Materials — 0.3%** |
| Carrier Global Corp. |  |  |
| 2.70%, 02/15/31 | &nbsp;&nbsp; 7688 | 6749180 |
| 2.72%, 02/15/30 | &nbsp;&nbsp; 19805 | 17799397 |
| 3.38%, 04/05/40 | &nbsp;&nbsp; 12073 | 9511010 |
| 3.58%, 04/05/50<sup>(a)</sup> | &nbsp;&nbsp; 10858 | 8125321 |
| 5.90%, 03/15/34 | &nbsp;&nbsp; 7342 | 7707024 |
| CRH America Finance Inc., 5.40%, 05/21/34 | &nbsp;&nbsp; 6677 | 6760105 |
| CRH SMW Finance DAC, 5.20%, 05/21/29 | &nbsp;&nbsp; 7435 | 7531713 |
| Martin Marietta Materials Inc. |  |  |
| 2.40%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8426 | 7176236 |
| 3.20%, 07/15/51<sup>(a)</sup> | &nbsp;&nbsp; 6668 | 4542444 |
| 5.15%, 12/01/34 | &nbsp;&nbsp; 2295 | 2278155 |
| 5.50%, 12/01/54 | &nbsp;&nbsp; 1780 | 1744507 |
| Owens Corning, 5.70%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 8372 | 8602357 |
| Trane Technologies Financing Ltd., 3.80%, <br> 03/21/29<br>| &nbsp;&nbsp; 7631 | 7371255 |
|  |  | 95898704 |
| **Chemicals — 1.1%** | **Chemicals — 1.1%** | **Chemicals — 1.1%** |
| Air Products and Chemicals Inc. |  |  |
| 2.05%, 05/15/30 | &nbsp;&nbsp; 9306 | 8104733 |
| 2.70%, 05/15/40<sup>(a)</sup> | &nbsp;&nbsp; 6439 | 4720012 |
| 2.80%, 05/15/50 | &nbsp;&nbsp; 7330 | 4802033 |
| 4.60%, 02/08/29<sup>(a)</sup> | &nbsp;&nbsp; 8424 | 8437573 |
| 4.85%, 02/08/34<sup>(a)</sup> | &nbsp;&nbsp; 9437 | 9354656 |
| Celanese U.S. Holdings LLC |  |  |
| 6.33%, 07/15/29 | &nbsp;&nbsp; 7736 | 7995763 |
| 6.35%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8323 | 8611006 |
| 6.38%, 07/15/32 | &nbsp;&nbsp; 8099 | 8391038 |
| 6.55%, 11/15/30 | &nbsp;&nbsp; 11880 | 12434657 |
| 6.70%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp; 8910 | 9458959 |
| CF Industries Inc. |  |  |
| 4.95%, 06/01/43 | &nbsp;&nbsp; 5558 | 4996659 |
| 5.15%, 03/15/34 | &nbsp;&nbsp; 7508 | 7361102 |
| 5.38%, 03/15/44 | &nbsp;&nbsp; 6330 | 5971796 |
| Dow Chemical Co. (The) |  |  |
| 2.10%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8127 | 6954225 |
| 3.60%, 11/15/50<sup>(a)</sup> | &nbsp;&nbsp; 9439 | 6761130 |
| 4.38%, 11/15/42 | &nbsp;&nbsp; 9834 | 8301280 |
| 5.25%, 11/15/41 | &nbsp;&nbsp; 6577 | 6201126 |
| 5.55%, 11/30/48<sup>(a)</sup> | &nbsp;&nbsp; 10865 | 10512361 |
| 6.90%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 7003 | 7944781 |
| 7.38%, 11/01/29 | &nbsp;&nbsp; 6536 | 7231414 |
| DuPont de Nemours Inc. |  |  |
| 4.73%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 19789 | 19790894 |
| 5.32%, 11/15/38<sup>(a)</sup> | &nbsp;&nbsp; 9779 | 10130108 |
| 5.42%, 11/15/48<sup>(a)</sup> | &nbsp;&nbsp; 15648 | 16453809 |
| Eastman Chemical Co. |  |  |
| 4.65%, 10/15/44 | &nbsp;&nbsp; 6781 | 5828429 |
| 5.63%, 02/20/34 | &nbsp;&nbsp; 9293 | 9371426 |
| Ecolab Inc., 2.70%, 12/15/51 | &nbsp;&nbsp; 7385 | 4667601 |
| International Flavors & Fragrances Inc., 5.00%, <br> 09/26/48<sup>(a)</sup><br>| &nbsp;&nbsp; 6303 | 5613292 |
| LYB International Finance BV |  |  |
| 4.88%, 03/15/44<sup>(a)</sup> | &nbsp;&nbsp; 8859 | 7827205 |
| 5.25%, 07/15/43 | &nbsp;&nbsp; 4727 | 4395059 |
| LYB International Finance III LLC |  |  |
| 3.38%, 10/01/40 | &nbsp;&nbsp; 7133 | 5381350 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| 3.63%, 04/01/51<sup>(a)</sup> | &nbsp;&nbsp; $7973 | $5608647 |
| 4.20%, 10/15/49<sup>(a)</sup> | &nbsp;&nbsp; 9315 | 7263327 |
| 4.20%, 05/01/50<sup>(a)</sup> | &nbsp;&nbsp; 7837 | 6102824 |
| 5.50%, 03/01/34 | &nbsp;&nbsp; 7782 | 7802738 |
| LyondellBasell Industries NV, 4.63%, <br> 02/26/55<sup>(a)</sup><br>| &nbsp;&nbsp; 9131 | 7529539 |
| Nutrien Ltd. |  |  |
| 4.20%, 04/01/29 | &nbsp;&nbsp; 8132 | 7936848 |
| 4.90%, 03/27/28<sup>(a)</sup> | &nbsp;&nbsp; 5415 | 5453306 |
| 5.00%, 04/01/49 | &nbsp;&nbsp; 6786 | 6224556 |
| 5.80%, 03/27/53<sup>(a)</sup> | &nbsp;&nbsp; 4884 | 4988847 |
| Sherwin-Williams Co. (The) |  |  |
| 2.95%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7665 | 7062398 |
| 4.50%, 06/01/47 | &nbsp;&nbsp; 8791 | 7571519 |
|  |  | 317550026 |
| **Commercial Services — 0.7%** | **Commercial Services — 0.7%** | **Commercial Services — 0.7%** |
| Automatic Data Processing Inc. |  |  |
| 1.25%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8477 | 7052622 |
| 1.70%, 05/15/28 | &nbsp;&nbsp; 7782 | 7106722 |
| 4.45%, 09/09/34 | &nbsp;&nbsp; 8053 | 7776035 |
| Equifax Inc., 2.35%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 9239 | 7769091 |
| Global Payments Inc. |  |  |
| 2.90%, 05/15/30 | &nbsp;&nbsp; 13068 | 11650227 |
| 2.90%, 11/15/31 | &nbsp;&nbsp; 7886 | 6806793 |
| 3.20%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9202 | 8457837 |
| 4.15%, 08/15/49<sup>(a)</sup> | &nbsp;&nbsp; 5117 | 3982087 |
| 5.40%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7429 | 7471354 |
| 5.95%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp; 5290 | 5292786 |
| Massachusetts Institute of Technology, <br> 5.60%<sup>(a)</sup><br>| &nbsp;&nbsp; 5046 | 5433320 |
| PayPal Holdings Inc. |  |  |
| 2.30%, 06/01/30 | &nbsp;&nbsp; 12148 | 10723751 |
| 2.85%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 22653 | 20816780 |
| 3.25%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp; 3975 | 2812727 |
| 4.40%, 06/01/32 | &nbsp;&nbsp; 8837 | 8610165 |
| 5.05%, 06/01/52<sup>(a)</sup> | &nbsp;&nbsp; 4337 | 4129240 |
| 5.15%, 06/01/34 | &nbsp;&nbsp; 9093 | 9158794 |
| President and Fellows of Harvard College, <br> Series ., 4.61%, 02/15/35<sup>(a)</sup><br>| &nbsp;&nbsp; 10914 | 10770220 |
| Quanta Services Inc., 2.90%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 17796 | 16023394 |
| RELX Capital Inc. |  |  |
| 3.00%, 05/22/30 | &nbsp;&nbsp; 6813 | 6230613 |
| 4.00%, 03/18/29<sup>(a)</sup> | &nbsp;&nbsp; 6411 | 6237147 |
| S&P Global Inc. |  |  |
| 2.70%, 03/01/29 | &nbsp;&nbsp; 10844 | 10013673 |
| 2.90%, 03/01/32 | &nbsp;&nbsp; 11923 | 10491533 |
| 3.70%, 03/01/52<sup>(a)</sup> | &nbsp;&nbsp; 2801 | 2167458 |
| 4.25%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7248 | 7117783 |
| 5.25%, 09/15/33 | &nbsp;&nbsp; 6336 | 6488453 |
|  |  | 210590605 |
| **Computers — 2.4%** | **Computers — 2.4%** | **Computers — 2.4%** |
| Accenture Capital Inc. |  |  |
| 4.05%, 10/04/29 | &nbsp;&nbsp; 6916 | 6754121 |
| 4.25%, 10/04/31 | &nbsp;&nbsp; 6768 | 6560577 |
| 4.50%, 10/04/34 | &nbsp;&nbsp; 7240 | 6981570 |
| Apple Inc. |  |  |
| 1.25%, 08/20/30<sup>(a)</sup> | &nbsp;&nbsp; 10257 | 8613150 |
| 1.40%, 08/05/28 | &nbsp;&nbsp; 20563 | 18482273 |
| 1.65%, 05/11/30 | &nbsp;&nbsp; 14808 | 12771808 |
| 1.65%, 02/08/31 | &nbsp;&nbsp; 22388 | 19007846 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| 1.70%, 08/05/31<sup>(a)</sup> | &nbsp;&nbsp; $7844 | $6599822 |
| 2.20%, 09/11/29<sup>(a)</sup> | &nbsp;&nbsp; 15895 | 14364916 |
| 2.38%, 02/08/41 | &nbsp;&nbsp; 13987 | 9909627 |
| 2.40%, 08/20/50<sup>(a)</sup> | &nbsp;&nbsp; 13826 | 8546030 |
| 2.55%, 08/20/60<sup>(a)</sup> | &nbsp;&nbsp; 13049 | 8028810 |
| 2.65%, 05/11/50<sup>(a)</sup> | &nbsp;&nbsp; 22067 | 14350439 |
| 2.65%, 02/08/51<sup>(a)</sup> | &nbsp;&nbsp; 25389 | 16366146 |
| 2.70%, 08/05/51<sup>(a)</sup> | &nbsp;&nbsp; 16776 | 10909223 |
| 2.80%, 02/08/61 | &nbsp;&nbsp; 13952 | 8693339 |
| 2.85%, 08/05/61 | &nbsp;&nbsp; 8034 | 5070580 |
| 2.95%, 09/11/49 | &nbsp;&nbsp; 10070 | 7004321 |
| 3.25%, 08/08/29<sup>(a)</sup> | &nbsp;&nbsp; 5111 | 4865311 |
| 3.35%, 08/08/32 | &nbsp;&nbsp; 13970 | 12932324 |
| 3.45%, 02/09/45 | &nbsp;&nbsp; 17735 | 14045343 |
| 3.75%, 09/12/47 | &nbsp;&nbsp; 10425 | 8463239 |
| 3.75%, 11/13/47 | &nbsp;&nbsp; 11305 | 9177137 |
| 3.85%, 05/04/43<sup>(a)</sup> | &nbsp;&nbsp; 25783 | 22018708 |
| 3.85%, 08/04/46 | &nbsp;&nbsp; 16075 | 13345869 |
| 3.95%, 08/08/52<sup>(a)</sup> | &nbsp;&nbsp; 15156 | 12571137 |
| 4.00%, 05/10/28 | &nbsp;&nbsp; 9186 | 9097334 |
| 4.10%, 08/08/62 | &nbsp;&nbsp; 8205 | 6801664 |
| 4.25%, 02/09/47 | &nbsp;&nbsp; 7886 | 6975660 |
| 4.30%, 05/10/33<sup>(a)</sup> | &nbsp;&nbsp; 5803 | 5765364 |
| 4.38%, 05/13/45<sup>(a)</sup> | &nbsp;&nbsp; 17995 | 16288885 |
| 4.45%, 05/06/44<sup>(a)</sup> | &nbsp;&nbsp; 4804 | 4504253 |
| 4.50%, 02/23/36<sup>(a)</sup> | &nbsp;&nbsp; 8270 | 8193283 |
| 4.65%, 02/23/46 | &nbsp;&nbsp; 34663 | 32545878 |
| 4.85%, 05/10/53<sup>(a)</sup> | &nbsp;&nbsp; 11785 | 11520964 |
| Dell International LLC/EMC Corp. |  |  |
| 3.38%, 12/15/41<sup>(a)</sup> | &nbsp;&nbsp; 6656 | 4996846 |
| 4.85%, 02/01/35<sup>(a)</sup> | &nbsp;&nbsp; 9075 | 8703153 |
| 5.25%, 02/01/28 | &nbsp;&nbsp; 1752 | 1779883 |
| 5.30%, 10/01/29 | &nbsp;&nbsp; 16257 | 16528894 |
| 5.40%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp; 9249 | 9348976 |
| 5.75%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp; 9883 | 10260639 |
| 6.20%, 07/15/30 | &nbsp;&nbsp; 8786 | 9303162 |
| 8.10%, 07/15/36<sup>(a)</sup> | &nbsp;&nbsp; 9761 | 11765099 |
| Hewlett Packard Enterprise Co. |  |  |
| 4.55%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 15781 | 15463554 |
| 4.85%, 10/15/31 | &nbsp;&nbsp; 10436 | 10225893 |
| 5.00%, 10/15/34 | &nbsp;&nbsp; 12640 | 12255415 |
| 5.60%, 10/15/54<sup>(a)</sup> | &nbsp;&nbsp; 12649 | 12186417 |
| 6.20%, 10/15/35 | &nbsp;&nbsp; 7638 | 8133256 |
| 6.35%, 10/15/45<sup>(a)</sup> | &nbsp;&nbsp; 7965 | 8463932 |
| HP Inc. |  |  |
| 2.65%, 06/17/31 | &nbsp;&nbsp; 14201 | 12256500 |
| 4.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13706 | 13232337 |
| 5.50%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp; 8365 | 8531719 |
| 6.00%, 09/15/41<sup>(a)</sup> | &nbsp;&nbsp; 4298 | 4432649 |
| IBM International Capital Pte Ltd. |  |  |
| 4.90%, 02/05/34<sup>(a)</sup> | &nbsp;&nbsp; 9129 | 9010926 |
| 5.25%, 02/05/44<sup>(a)</sup> | &nbsp;&nbsp; 8512 | 8208810 |
| 5.30%, 02/05/54<sup>(a)</sup> | &nbsp;&nbsp; 11706 | 11218693 |
| International Business Machines Corp. |  |  |
| 1.95%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 11763 | 10133227 |
| 2.95%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp; 6968 | 4563037 |
| 3.50%, 05/15/29 | &nbsp;&nbsp; 25400 | 24116962 |
| 4.00%, 06/20/42 | &nbsp;&nbsp; 9945 | 8299920 |
| 4.15%, 05/15/39<sup>(a)</sup> | &nbsp;&nbsp; 15980 | 13985226 |
| 4.25%, 05/15/49<sup>(a)</sup> | &nbsp;&nbsp; 25167 | 20921239 |
| 4.40%, 07/27/32 | &nbsp;&nbsp; 7929 | 7679943 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| 4.50%, 02/06/28<sup>(a)</sup> | &nbsp;&nbsp; $209 | $208439 |
| 4.75%, 02/06/33<sup>(a)</sup> | &nbsp;&nbsp; 9867 | 9765275 |
| 4.90%, 07/27/52<sup>(a)</sup> | &nbsp;&nbsp; 5965 | 5484238 |
| Leidos Inc. |  |  |
| 2.30%, 02/15/31 | &nbsp;&nbsp; 6459 | 5509840 |
| 4.38%, 05/15/30 | &nbsp;&nbsp; 5050 | 4870834 |
| 5.75%, 03/15/33 | &nbsp;&nbsp; 2271 | 2347645 |
|  |  | 712319529 |
| **Cosmetics & Personal Care — 0.5%** | **Cosmetics & Personal Care — 0.5%** | **Cosmetics & Personal Care — 0.5%** |
| Haleon U.S. Capital LLC |  |  |
| 3.38%, 03/24/29 | &nbsp;&nbsp; 5858 | 5535850 |
| 3.63%, 03/24/32 | &nbsp;&nbsp; 15364 | 14064482 |
| 4.00%, 03/24/52<sup>(a)</sup> | &nbsp;&nbsp; 3414 | 2722730 |
| Kenvue Inc. |  |  |
| 4.90%, 03/22/33<sup>(a)</sup> | &nbsp;&nbsp; 10679 | 10668905 |
| 5.00%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; 11431 | 11619127 |
| 5.05%, 03/22/28 | &nbsp;&nbsp; 2421 | 2462952 |
| 5.05%, 03/22/53<sup>(a)</sup> | &nbsp;&nbsp; 9896 | 9607295 |
| 5.10%, 03/22/43<sup>(a)</sup> | &nbsp;&nbsp; 5797 | 5710961 |
| 5.20%, 03/22/63 | &nbsp;&nbsp; 6141 | 5976949 |
| Procter & Gamble Co. (The) |  |  |
| 1.20%, 10/29/30 | &nbsp;&nbsp; 8174 | 6789450 |
| 1.95%, 04/23/31<sup>(a)</sup> | &nbsp;&nbsp; 7434 | 6435975 |
| 2.30%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 1064 | 928569 |
| 3.00%, 03/25/30 | &nbsp;&nbsp; 12416 | 11539546 |
| 4.05%, 01/26/33<sup>(a)</sup> | &nbsp;&nbsp; 8581 | 8310603 |
| 4.55%, 01/29/34<sup>(a)</sup> | &nbsp;&nbsp; 7050 | 6989762 |
| Unilever Capital Corp. |  |  |
| 1.75%, 08/12/31<sup>(a)</sup> | &nbsp;&nbsp; 9023 | 7517994 |
| 2.13%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 6450 | 5760215 |
| 3.50%, 03/22/28 | &nbsp;&nbsp; 4190 | 4064755 |
| 4.63%, 08/12/34 | &nbsp;&nbsp; 11611 | 11357776 |
| 5.00%, 12/08/33<sup>(a)</sup> | &nbsp;&nbsp; 4425 | 4481852 |
| 5.90%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; 5585 | 5993456 |
|  |  | 148539204 |
| **Diversified Financial Services — 2.5%** | **Diversified Financial Services — 2.5%** | **Diversified Financial Services — 2.5%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 3.00%, 10/29/28<sup>(a)</sup> | &nbsp;&nbsp; 30190 | 28010723 |
| 3.30%, 01/30/32<sup>(a)</sup> | &nbsp;&nbsp; 29592 | 26022175 |
| 3.40%, 10/29/33 | &nbsp;&nbsp; 13753 | 11793943 |
| 3.85%, 10/29/41<sup>(a)</sup> | &nbsp;&nbsp; 13554 | 10848841 |
| 4.63%, 09/10/29 | &nbsp;&nbsp; 12210 | 11975585 |
| 4.95%, 09/10/34 | &nbsp;&nbsp; 7524 | 7241300 |
| 5.10%, 01/19/29 | &nbsp;&nbsp; 7387 | 7407320 |
| 5.75%, 06/06/28<sup>(a)</sup> | &nbsp;&nbsp; 9575 | 9822007 |
| 6.15%, 09/30/30 | &nbsp;&nbsp; 7538 | 7916703 |
| Air Lease Corp. |  |  |
| 2.88%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 2925 | 2506344 |
| 3.13%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 11800 | 10545938 |
| Ally Financial Inc. |  |  |
| 2.20%, 11/02/28 | &nbsp;&nbsp; 4504 | 4000031 |
| 8.00%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp; 13863 | 15419948 |
| American Express Co. |  |  |
| 4.05%, 05/03/29<sup>(a)</sup> | &nbsp;&nbsp; 9970 | 9759413 |
| 4.05%, 12/03/42<sup>(a)</sup> | &nbsp;&nbsp; 5675 | 4879800 |
| Ameriprise Financial Inc., 5.15%, 05/15/33 | &nbsp;&nbsp; 9725 | 9832287 |
| Apollo Global Management Inc., 5.80%, <br> 05/21/54<br>| &nbsp;&nbsp; 9006 | 9244911 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Brookfield Finance Inc. |  |  |
| 3.50%, 03/30/51 | &nbsp;&nbsp; $6639 | $4726981 |
| 4.35%, 04/15/30 | &nbsp;&nbsp; 9500 | 9227473 |
| 4.70%, 09/20/47<sup>(a)</sup> | &nbsp;&nbsp; 7387 | 6533169 |
| 4.85%, 03/29/29<sup>(a)</sup> | &nbsp;&nbsp; 11913 | 11918678 |
| 5.97%, 03/04/54 | &nbsp;&nbsp; 9945 | 10284763 |
| Capital One Financial Corp., 3.80%, 01/31/28<sup>(a)</sup> | &nbsp;&nbsp; 1977 | 1910362 |
| Charles Schwab Corp. (The) |  |  |
| 1.65%, 03/11/31<sup>(a)</sup> | &nbsp;&nbsp; 8288 | 6871013 |
| 1.95%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 8551 | 7057809 |
| 2.00%, 03/20/28<sup>(a)</sup> | &nbsp;&nbsp; 12101 | 11099537 |
| 2.30%, 05/13/31 | &nbsp;&nbsp; 8433 | 7238718 |
| 2.90%, 03/03/32<sup>(a)</sup> | &nbsp;&nbsp; 9347 | 8173598 |
| CME Group Inc. |  |  |
| 2.65%, 03/15/32 | &nbsp;&nbsp; 9050 | 7915589 |
| 5.30%, 09/15/43 | &nbsp;&nbsp; 7397 | 7576631 |
| Discover Financial Services, 6.70%, 11/29/32 | &nbsp;&nbsp; 8012 | 8606719 |
| Intercontinental Exchange Inc. |  |  |
| 1.85%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp; 12765 | 10225507 |
| 2.10%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 15029 | 13029486 |
| 2.65%, 09/15/40 | &nbsp;&nbsp; 10272 | 7355536 |
| 3.00%, 06/15/50<sup>(a)</sup> | &nbsp;&nbsp; 11037 | 7380230 |
| 3.00%, 09/15/60 | &nbsp;&nbsp; 13463 | 8411482 |
| 3.63%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 14003 | 13469337 |
| 4.25%, 09/21/48<sup>(a)</sup> | &nbsp;&nbsp; 14405 | 12161862 |
| 4.35%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13682 | 13486271 |
| 4.60%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 9677 | 9417023 |
| 4.95%, 06/15/52<sup>(a)</sup> | &nbsp;&nbsp; 10547 | 9880074 |
| 5.20%, 06/15/62 | &nbsp;&nbsp; 6219 | 5993523 |
| 5.25%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8822 | 8996209 |
| Jefferies Financial Group Inc. |  |  |
| 2.63%, 10/15/31 | &nbsp;&nbsp; 10054 | 8511307 |
| 4.15%, 01/23/30<sup>(a)</sup> | &nbsp;&nbsp; 10761 | 10289865 |
| 5.88%, 07/21/28 | &nbsp;&nbsp; 7734 | 7949025 |
| 6.20%, 04/14/34 | &nbsp;&nbsp; 12936 | 13436389 |
| Mastercard Inc. |  |  |
| 2.00%, 11/18/31 | &nbsp;&nbsp; 6694 | 5631593 |
| 2.95%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10053 | 9413584 |
| 3.35%, 03/26/30 | &nbsp;&nbsp; 14173 | 13323890 |
| 3.65%, 06/01/49<sup>(a)</sup> | &nbsp;&nbsp; 5920 | 4629147 |
| 3.85%, 03/26/50<sup>(a)</sup> | &nbsp;&nbsp; 7716 | 6224949 |
| 4.35%, 01/15/32 | &nbsp;&nbsp; 9364 | 9115713 |
| 4.55%, 01/15/35<sup>(a)</sup> | &nbsp;&nbsp; 10095 | 9805466 |
| 4.85%, 03/09/33<sup>(a)</sup> | &nbsp;&nbsp; 6419 | 6448256 |
| 4.88%, 03/09/28<sup>(a)</sup> | &nbsp;&nbsp; 3042 | 3086893 |
| 4.88%, 05/09/34 | &nbsp;&nbsp; 8615 | 8622790 |
| Nasdaq Inc. |  |  |
| 5.35%, 06/28/28 | &nbsp;&nbsp; 11428 | 11659441 |
| 5.55%, 02/15/34 | &nbsp;&nbsp; 8687 | 8880029 |
| 5.95%, 08/15/53<sup>(a)</sup> | &nbsp;&nbsp; 8222 | 8548945 |
| 6.10%, 06/28/63<sup>(a)</sup> | &nbsp;&nbsp; 7793 | 8131656 |
| Nomura Holdings Inc. |  |  |
| 2.17%, 07/14/28 | &nbsp;&nbsp; 13742 | 12379865 |
| 2.61%, 07/14/31 | &nbsp;&nbsp; 10908 | 9282373 |
| 2.68%, 07/16/30 | &nbsp;&nbsp; 12313 | 10774440 |
| 3.00%, 01/22/32<sup>(a)</sup> | &nbsp;&nbsp; 5483 | 4707470 |
| 3.10%, 01/16/30<sup>(a)</sup> | &nbsp;&nbsp; 11990 | 10854089 |
| 5.78%, 07/03/34<sup>(a)</sup> | &nbsp;&nbsp; 8980 | 9149544 |
| 6.07%, 07/12/28 | &nbsp;&nbsp; 4286 | 4429993 |
| 6.18%, 01/18/33<sup>(a)</sup> | &nbsp;&nbsp; 810 | 852922 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Raymond James Financial Inc. |  |  |
| 3.75%, 04/01/51 | &nbsp;&nbsp; $8477 | $6361402 |
| 4.95%, 07/15/46 | &nbsp;&nbsp; 9486 | 8767216 |
| Synchrony Financial, 2.88%, 10/28/31 | &nbsp;&nbsp; 5762 | 4800938 |
| Visa Inc. |  |  |
| 1.10%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8877 | 7251959 |
| 2.00%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; 13405 | 7652365 |
| 2.05%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 12690 | 11154430 |
| 2.70%, 04/15/40<sup>(a)</sup> | &nbsp;&nbsp; 8572 | 6413436 |
| 3.65%, 09/15/47<sup>(a)</sup> | &nbsp;&nbsp; 4921 | 3916287 |
| 4.15%, 12/14/35 | &nbsp;&nbsp; 14480 | 13685836 |
| 4.30%, 12/14/45 | &nbsp;&nbsp; 27879 | 24678466 |
|  |  | 726996818 |
| **Electric — 4.1%** | **Electric — 4.1%** | **Electric — 4.1%** |
| AES Corp. (The) |  |  |
| 2.45%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 9423 | 7919721 |
| 5.45%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 12018 | 12123579 |
| Ameren Corp., 3.50%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 4934 | 4550133 |
| American Electric Power Co. Inc. |  |  |
| 5.20%, 01/15/29 | &nbsp;&nbsp; 5868 | 5936657 |
| 5.63%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp; 10177 | 10386324 |
| Berkshire Hathaway Energy Co. |  |  |
| 2.85%, 05/15/51<sup>(a)</sup> | &nbsp;&nbsp; 13386 | 8577477 |
| 3.70%, 07/15/30 | &nbsp;&nbsp; 8992 | 8533106 |
| 3.80%, 07/15/48 | &nbsp;&nbsp; 6547 | 5018446 |
| 4.25%, 10/15/50 | &nbsp;&nbsp; 7536 | 6162918 |
| 4.45%, 01/15/49<sup>(a)</sup> | &nbsp;&nbsp; 9146 | 7769681 |
| 4.50%, 02/01/45<sup>(a)</sup> | &nbsp;&nbsp; 7590 | 6734089 |
| 4.60%, 05/01/53 | &nbsp;&nbsp; 9305 | 7998108 |
| 5.15%, 11/15/43 | &nbsp;&nbsp; 7083 | 6867300 |
| 6.13%, 04/01/36<sup>(a)</sup> | &nbsp;&nbsp; 10450 | 11146873 |
| Commonwealth Edison Co., 4.00%, 03/01/48 | &nbsp;&nbsp; 4645 | 3767231 |
| Connecticut Light and Power Co. (The), 4.00%, <br> 04/01/48<br>| &nbsp;&nbsp; 1903 | 1561160 |
| Consolidated Edison Co. of New York Inc. |  |  |
| 2.40%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 5477 | 4760821 |
| 3.60%, 06/15/61<sup>(a)</sup> | &nbsp;&nbsp; 12212 | 8697068 |
| 4.45%, 03/15/44 | &nbsp;&nbsp; 6077 | 5326334 |
| 4.63%, 12/01/54 | &nbsp;&nbsp; 6252 | 5480878 |
| 5.70%, 05/15/54<sup>(a)</sup> | &nbsp;&nbsp; 4918 | 5067228 |
| 5.90%, 11/15/53<sup>(a)</sup> | &nbsp;&nbsp; 4788 | 5053611 |
| Series 20B, 3.95%, 04/01/50 | &nbsp;&nbsp; 8434 | 6891667 |
| Constellation Energy Generation LLC |  |  |
| 5.60%, 03/01/28 | &nbsp;&nbsp; 956 | 981311 |
| 5.60%, 06/15/42 | &nbsp;&nbsp; 5762 | 5712309 |
| 5.75%, 03/15/54 | &nbsp;&nbsp; 10881 | 10957060 |
| 6.25%, 10/01/39 | &nbsp;&nbsp; 3668 | 3913279 |
| 6.50%, 10/01/53 | &nbsp;&nbsp; 6597 | 7265235 |
| Dominion Energy Inc. |  |  |
| 5.38%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9380 | 9532937 |
| Series C, 2.25%, 08/15/31 | &nbsp;&nbsp; 14758 | 12422148 |
| Series C, 3.38%, 04/01/30 | &nbsp;&nbsp; 10900 | 10075798 |
| DTE Energy Co. |  |  |
| 4.88%, 06/01/28 | &nbsp;&nbsp; 3051 | 3055310 |
| 5.10%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9520 | 9580442 |
| 5.85%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 10175 | 10557734 |
| Duke Energy Carolinas LLC |  |  |
| 3.20%, 08/15/49 | &nbsp;&nbsp; 7056 | 4875186 |
| 4.95%, 01/15/33 | &nbsp;&nbsp; 14209 | 14130821 |
| 5.30%, 02/15/40 | &nbsp;&nbsp; 4431 | 4427736 |
| 5.35%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp; 7946 | 7823996 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 5.40%, 01/15/54<sup>(a)</sup> | &nbsp;&nbsp; $7275 | $7205693 |
| Duke Energy Corp. |  |  |
| 2.45%, 06/01/30 | &nbsp;&nbsp; 7657 | 6727005 |
| 2.55%, 06/15/31 | &nbsp;&nbsp; 7606 | 6529704 |
| 3.30%, 06/15/41<sup>(a)</sup> | &nbsp;&nbsp; 5608 | 4203925 |
| 3.50%, 06/15/51 | &nbsp;&nbsp; 5783 | 4044469 |
| 3.75%, 09/01/46 | &nbsp;&nbsp; 11869 | 8907567 |
| 4.30%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3298 | 3254076 |
| 4.50%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 11613 | 11155330 |
| 5.00%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp; 9078 | 8153881 |
| 5.45%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 8375 | 8460896 |
| 5.80%, 06/15/54<sup>(a)</sup> | &nbsp;&nbsp; 5444 | 5467935 |
| 6.10%, 09/15/53<sup>(a)</sup> | &nbsp;&nbsp; 5112 | 5354162 |
| Duke Energy Florida LLC, 6.40%, 06/15/38 | &nbsp;&nbsp; 5652 | 6201719 |
| Emera U.S. Finance LP, 4.75%, 06/15/46 | &nbsp;&nbsp; 4348 | 3679150 |
| Entergy Louisiana LLC, 4.20%, 09/01/48 | &nbsp;&nbsp; 5016 | 4124701 |
| Eversource Energy |  |  |
| 5.13%, 05/15/33 | &nbsp;&nbsp; 9905 | 9772486 |
| 5.45%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6922 | 7057274 |
| 5.95%, 02/01/29 | &nbsp;&nbsp; 6425 | 6663517 |
| Exelon Corp. |  |  |
| 4.05%, 04/15/30 | &nbsp;&nbsp; 9108 | 8725664 |
| 4.45%, 04/15/46 | &nbsp;&nbsp; 9038 | 7702362 |
| 4.70%, 04/15/50 | &nbsp;&nbsp; 5090 | 4495679 |
| 5.15%, 03/15/28 | &nbsp;&nbsp; 3881 | 3920993 |
| 5.30%, 03/15/33 | &nbsp;&nbsp; 10810 | 10948320 |
| 5.60%, 03/15/53 | &nbsp;&nbsp; 7495 | 7457291 |
| FirstEnergy Corp., Series C, 3.40%, 03/01/50 | &nbsp;&nbsp; 3177 | 2222380 |
| Florida Power & Light Co. |  |  |
| 2.45%, 02/03/32 | &nbsp;&nbsp; 17495 | 14946678 |
| 2.88%, 12/04/51<sup>(a)</sup> | &nbsp;&nbsp; 9221 | 6055424 |
| 3.15%, 10/01/49 | &nbsp;&nbsp; 6011 | 4201373 |
| 3.95%, 03/01/48 | &nbsp;&nbsp; 4959 | 4039558 |
| 4.40%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5408 | 5381768 |
| 4.80%, 05/15/33 | &nbsp;&nbsp; 8666 | 8559281 |
| 5.05%, 04/01/28 | &nbsp;&nbsp; 6164 | 6249454 |
| 5.10%, 04/01/33<sup>(a)</sup> | &nbsp;&nbsp; 9225 | 9297889 |
| 5.15%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6840 | 6971216 |
| 5.30%, 06/15/34 | &nbsp;&nbsp; 8209 | 8370646 |
| 5.30%, 04/01/53<sup>(a)</sup> | &nbsp;&nbsp; 5835 | 5782868 |
| 5.60%, 06/15/54 | &nbsp;&nbsp; 6504 | 6732137 |
| Georgia Power Co. |  |  |
| 4.30%, 03/15/42 | &nbsp;&nbsp; 7873 | 6849560 |
| 4.65%, 05/16/28 | &nbsp;&nbsp; 5457 | 5462765 |
| 4.95%, 05/17/33<sup>(a)</sup> | &nbsp;&nbsp; 7172 | 7144920 |
| 5.13%, 05/15/52<sup>(a)</sup> | &nbsp;&nbsp; 6103 | 5857764 |
| 5.25%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 9847 | 9992229 |
| Series A, 3.25%, 03/15/51 | &nbsp;&nbsp; 5285 | 3700703 |
| MidAmerican Energy Co. |  |  |
| 3.65%, 04/15/29 | &nbsp;&nbsp; 6405 | 6142752 |
| 4.25%, 07/15/49<sup>(a)</sup> | &nbsp;&nbsp; 9041 | 7633267 |
| 5.85%, 09/15/54<sup>(a)</sup> | &nbsp;&nbsp; 8874 | 9367852 |
| National Grid PLC |  |  |
| 5.42%, 01/11/34<sup>(a)</sup> | &nbsp;&nbsp; 8300 | 8370643 |
| 5.81%, 06/12/33 | &nbsp;&nbsp; 7608 | 7888328 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 1.90%, 06/15/28 | &nbsp;&nbsp; 12880 | 11659749 |
| 2.25%, 06/01/30 | &nbsp;&nbsp; 15237 | 13250468 |
| 2.44%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9697 | 8171086 |
| 2.75%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7165 | 6522476 |
| 4.90%, 02/28/28<sup>(a)</sup> | &nbsp;&nbsp; 4346 | 4365613 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 4.90%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; $8426 | $8459700 |
| 5.00%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 10307 | 10256951 |
| 5.05%, 02/28/33<sup>(a)</sup> | &nbsp;&nbsp; 9001 | 8932411 |
| 5.25%, 03/15/34 | &nbsp;&nbsp; 9577 | 9606202 |
| 5.25%, 02/28/53<sup>(a)</sup> | &nbsp;&nbsp; 9320 | 8891008 |
| 5.55%, 03/15/54<sup>(a)</sup> | &nbsp;&nbsp; 6687 | 6630903 |
| Northern States Power Co./MN, 5.10%, <br> 05/15/53<sup>(a)</sup><br>| &nbsp;&nbsp; 4578 | 4415626 |
| Oncor Electric Delivery Co. LLC |  |  |
| 4.95%, 09/15/52<sup>(a)</sup> | &nbsp;&nbsp; 5102 | 4746895 |
| 5.55%, 06/15/54<sup>(a)(b)</sup> | &nbsp;&nbsp; 4247 | 4293855 |
| 5.65%, 11/15/33 | &nbsp;&nbsp; 9285 | 9721314 |
| Pacific Gas and Electric Co. |  |  |
| 2.50%, 02/01/31 | &nbsp;&nbsp; 17071 | 14634929 |
| 3.00%, 06/15/28 | &nbsp;&nbsp; 8045 | 7539466 |
| 3.25%, 06/01/31 | &nbsp;&nbsp; 8447 | 7540392 |
| 3.30%, 08/01/40<sup>(a)</sup> | &nbsp;&nbsp; 9667 | 7266238 |
| 3.50%, 08/01/50 | &nbsp;&nbsp; 16939 | 11782541 |
| 3.75%, 07/01/28 | &nbsp;&nbsp; 6689 | 6418970 |
| 3.95%, 12/01/47<sup>(a)</sup> | &nbsp;&nbsp; 8919 | 6698943 |
| 4.50%, 07/01/40<sup>(a)</sup> | &nbsp;&nbsp; 15541 | 13509569 |
| 4.55%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 23478 | 22784164 |
| 4.95%, 07/01/50<sup>(a)</sup> | &nbsp;&nbsp; 24569 | 21480974 |
| 5.55%, 05/15/29 | &nbsp;&nbsp; 6550 | 6670604 |
| 5.80%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp; 9834 | 10108167 |
| 5.90%, 10/01/54<sup>(a)</sup> | &nbsp;&nbsp; 5331 | 5316696 |
| 6.10%, 01/15/29 | &nbsp;&nbsp; 5287 | 5484535 |
| 6.15%, 01/15/33 | &nbsp;&nbsp; 8929 | 9341657 |
| 6.40%, 06/15/33 | &nbsp;&nbsp; 10721 | 11407516 |
| 6.70%, 04/01/53<sup>(a)</sup> | &nbsp;&nbsp; 4680 | 5145619 |
| 6.75%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp; 13337 | 14603963 |
| 6.95%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 7688 | 8517391 |
| PacifiCorp |  |  |
| 2.90%, 06/15/52 | &nbsp;&nbsp; 9070 | 5585005 |
| 5.35%, 12/01/53 | &nbsp;&nbsp; 7142 | 6708668 |
| 5.45%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 9545 | 9615173 |
| 5.50%, 05/15/54<sup>(a)</sup> | &nbsp;&nbsp; 7109 | 6834424 |
| 5.80%, 01/15/55<sup>(a)</sup> | &nbsp;&nbsp; 12164 | 12191828 |
| PPL Capital Funding Inc., 5.25%, 09/01/34 | &nbsp;&nbsp; 10939 | 10834437 |
| PPL Electric Utilities Corp., 5.25%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 1971 | 1939277 |
| Public Service Co. of Colorado |  |  |
| 1.88%, 06/15/31 | &nbsp;&nbsp; 4742 | 3951796 |
| 5.25%, 04/01/53 | &nbsp;&nbsp; 3952 | 3782588 |
| 5.75%, 05/15/54 | &nbsp;&nbsp; 7363 | 7632004 |
| Public Service Enterprise Group Inc. |  |  |
| 2.45%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 9956 | 8472719 |
| 5.20%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4702 | 4771369 |
| San Diego Gas & Electric Co. |  |  |
| 5.35%, 04/01/53<sup>(a)</sup> | &nbsp;&nbsp; 4744 | 4642573 |
| Series VVV, 1.70%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 3972 | 3345312 |
| Series WWW, 2.95%, 08/15/51<sup>(a)</sup> | &nbsp;&nbsp; 3537 | 2356041 |
| Sempra |  |  |
| 3.40%, 02/01/28 | &nbsp;&nbsp; 691 | 660556 |
| 3.80%, 02/01/38<sup>(a)</sup> | &nbsp;&nbsp; 16199 | 13592623 |
| 4.00%, 02/01/48 | &nbsp;&nbsp; 12167 | 9525993 |
| 6.00%, 10/15/39 | &nbsp;&nbsp; 1572 | 1611079 |
| Southern California Edison Co. |  |  |
| 3.65%, 02/01/50<sup>(a)</sup> | &nbsp;&nbsp; 10214 | 7610435 |
| 4.00%, 04/01/47<sup>(a)</sup> | &nbsp;&nbsp; 16806 | 13395041 |
| 4.65%, 10/01/43 | &nbsp;&nbsp; 6040 | 5410759 |
| 5.20%, 06/01/34 | &nbsp;&nbsp; 9048 | 9075398 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 5.30%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; $1766 | $1797182 |
| 5.45%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 4459 | 4568160 |
| 5.95%, 11/01/32<sup>(a)</sup> | &nbsp;&nbsp; 6595 | 6979992 |
| Series 20A, 2.95%, 02/01/51 | &nbsp;&nbsp; 5732 | 3736903 |
| Series C, 4.13%, 03/01/48 | &nbsp;&nbsp; 11375 | 9250901 |
| Southern Co. (The) |  |  |
| 4.40%, 07/01/46<sup>(a)</sup> | &nbsp;&nbsp; 14588 | 12366789 |
| 4.85%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4094 | 4125713 |
| 4.85%, 03/15/35<sup>(a)</sup> | &nbsp;&nbsp; 8701 | 8449310 |
| 5.20%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6785 | 6810879 |
| 5.50%, 03/15/29 | &nbsp;&nbsp; 7095 | 7297441 |
| 5.70%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 7272 | 7552960 |
| Series A, 3.70%, 04/30/30 | &nbsp;&nbsp; 4491 | 4228041 |
| Series B, 4.00%, 01/15/51, <br> (5-year CMT + 3.733%)<sup>(c)</sup><br>| &nbsp;&nbsp; 15107 | 14776904 |
| Virginia Electric & Power Co. |  |  |
| 2.45%, 12/15/50 | &nbsp;&nbsp; 4065 | 2400528 |
| 2.95%, 11/15/51<sup>(a)</sup> | &nbsp;&nbsp; 4050 | 2631068 |
| 5.00%, 04/01/33 | &nbsp;&nbsp; 8637 | 8575369 |
| 5.45%, 04/01/53 | &nbsp;&nbsp; 3133 | 3111308 |
| Xcel Energy Inc. |  |  |
| 5.45%, 08/15/33 | &nbsp;&nbsp; 8428 | 8487750 |
| 5.50%, 03/15/34 | &nbsp;&nbsp; 8647 | 8717298 |
|  |  | 1194663151 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Emerson Electric Co. |  |  |
| 2.00%, 12/21/28 | &nbsp;&nbsp; 9295 | 8402619 |
| 2.20%, 12/21/31 | &nbsp;&nbsp; 8858 | 7533991 |
| 2.80%, 12/21/51 | &nbsp;&nbsp; 5160 | 3359103 |
|  |  | 19295713 |
| **Electronics — 0.4%** | **Electronics — 0.4%** | **Electronics — 0.4%** |
| Amphenol Corp. |  |  |
| 2.20%, 09/15/31 | &nbsp;&nbsp; 5962 | 5016007 |
| 2.80%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7524 | 6816332 |
| 5.00%, 01/15/35 | &nbsp;&nbsp; 3000 | 2978990 |
| Honeywell International Inc. |  |  |
| 1.75%, 09/01/31 | &nbsp;&nbsp; 13329 | 11044048 |
| 1.95%, 06/01/30 | &nbsp;&nbsp; 6510 | 5655212 |
| 2.70%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9042 | 8337919 |
| 2.80%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp; 7063 | 4743648 |
| 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3335 | 3311534 |
| 4.50%, 01/15/34 | &nbsp;&nbsp; 8747 | 8513677 |
| 4.70%, 02/01/30 | &nbsp;&nbsp; 8627 | 8653323 |
| 5.00%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 10269 | 10398775 |
| 5.00%, 03/01/35 | &nbsp;&nbsp; 17858 | 17945511 |
| 5.25%, 03/01/54 | &nbsp;&nbsp; 11933 | 11872104 |
|  |  | 105287080 |
| **Entertainment — 0.4%** | **Entertainment — 0.4%** | **Entertainment — 0.4%** |
| Warnermedia Holdings Inc. |  |  |
| 4.05%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5118 | 4781219 |
| 4.28%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 32065 | 28114839 |
| 5.05%, 03/15/42 | &nbsp;&nbsp; 33283 | 26521778 |
| 5.14%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 53560 | 40334236 |
| 5.39%, 03/15/62 | &nbsp;&nbsp; 21937 | 16422714 |
|  |  | 116174786 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| Republic Services Inc. |  |  |
| 1.75%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp; 8116 | 6559423 |
| 3.95%, 05/15/28 | &nbsp;&nbsp; 6694 | 6540274 |
| 4.88%, 04/01/29 | &nbsp;&nbsp; 7751 | 7795123 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control (continued)** | **Environmental Control (continued)** | **Environmental Control (continued)** |
| 5.00%, 04/01/34<sup>(a)</sup> | &nbsp;&nbsp; $6069 | $6044143 |
| Waste Connections Inc. |  |  |
| 2.95%, 01/15/52<sup>(a)</sup> | &nbsp;&nbsp; 6601 | 4321688 |
| 4.20%, 01/15/33 | &nbsp;&nbsp; 5650 | 5323150 |
| 5.00%, 03/01/34 | &nbsp;&nbsp; 6889 | 6826588 |
| Waste Management Inc. |  |  |
| 1.50%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6973 | 5740868 |
| 3.15%, 11/15/27 | &nbsp;&nbsp; 947 | 911306 |
| 4.15%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7742 | 7431656 |
| 4.63%, 02/15/30 | &nbsp;&nbsp; 6833 | 6808447 |
| 4.80%, 03/15/32 | &nbsp;&nbsp; 8125 | 8110258 |
| 4.88%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8819 | 8917154 |
| 4.88%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 10486 | 10454319 |
| 4.95%, 07/03/31 | &nbsp;&nbsp; 5404 | 5443471 |
| 4.95%, 03/15/35 | &nbsp;&nbsp; 12200 | 12105105 |
| 5.35%, 10/15/54 | &nbsp;&nbsp; 10240 | 10249154 |
|  |  | 119582127 |
| **Food — 1.5%** | **Food — 1.5%** | **Food — 1.5%** |
| Campbell Soup Co. |  |  |
| 4.15%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1238 | 1215309 |
| 4.75%, 03/23/35 | &nbsp;&nbsp; 6876 | 6606005 |
| 5.40%, 03/21/34<sup>(a)</sup> | &nbsp;&nbsp; 9089 | 9176059 |
| Conagra Brands Inc. |  |  |
| 1.38%, 11/01/27 | &nbsp;&nbsp; 729 | 659184 |
| 4.85%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 12223 | 12187696 |
| 5.30%, 11/01/38 | &nbsp;&nbsp; 12442 | 11945765 |
| 5.40%, 11/01/48 | &nbsp;&nbsp; 9005 | 8515734 |
| General Mills Inc. |  |  |
| 2.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7068 | 6392642 |
| 4.20%, 04/17/28<sup>(a)</sup> | &nbsp;&nbsp; 9885 | 9717760 |
| 4.95%, 03/29/33<sup>(a)</sup> | &nbsp;&nbsp; 11652 | 11549137 |
| Hormel Foods Corp. |  |  |
| 1.70%, 06/03/28<sup>(a)</sup> | &nbsp;&nbsp; 1994 | 1808384 |
| 1.80%, 06/11/30 | &nbsp;&nbsp; 8595 | 7334205 |
| J.M. Smucker Co. (The) |  |  |
| 5.90%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4993 | 5212476 |
| 6.50%, 11/15/53<sup>(a)</sup> | &nbsp;&nbsp; 9417 | 10388795 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL<br>|  |  |
| 3.00%, 05/15/32 | &nbsp;&nbsp; 9104 | 7659934 |
| 3.63%, 01/15/32 | &nbsp;&nbsp; 9091 | 8022487 |
| 4.38%, 02/02/52 | &nbsp;&nbsp; 4949 | 3794729 |
| 5.13%, 02/01/28 | &nbsp;&nbsp; 2799 | 2799419 |
| 5.50%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10138 | 10095582 |
| 5.75%, 04/01/33 | &nbsp;&nbsp; 14388 | 14534618 |
| 6.50%, 12/01/52<sup>(a)</sup> | &nbsp;&nbsp; 9988 | 10295530 |
| 6.75%, 03/15/34<sup>(b)</sup> | &nbsp;&nbsp; 12158 | 13064322 |
| 7.25%, 11/15/53<sup>(a)(b)</sup> | &nbsp;&nbsp; 5027 | 5656151 |
| Kraft Heinz Foods Co. |  |  |
| 4.38%, 06/01/46 | &nbsp;&nbsp; 24508 | 20534231 |
| 4.88%, 10/01/49<sup>(a)</sup> | &nbsp;&nbsp; 13719 | 12276689 |
| 5.00%, 06/04/42<sup>(a)</sup> | &nbsp;&nbsp; 13817 | 12856775 |
| 5.20%, 07/15/45 | &nbsp;&nbsp; 14642 | 13695715 |
| 5.50%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp; 8088 | 7910469 |
| 6.88%, 01/26/39 | &nbsp;&nbsp; 3638 | 4099419 |
| Kroger Co. (The) |  |  |
| 3.95%, 01/15/50<sup>(a)</sup> | &nbsp;&nbsp; 3261 | 2530319 |
| 4.45%, 02/01/47 | &nbsp;&nbsp; 3613 | 3040511 |
| 4.65%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 17473 | 17464491 |
| 4.90%, 09/15/31 | &nbsp;&nbsp; 11880 | 11847120 |
| 5.00%, 09/15/34 | &nbsp;&nbsp; 21603 | 21214913 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| 5.50%, 09/15/54<sup>(a)</sup> | &nbsp;&nbsp; $19639 | $19167354 |
| 5.65%, 09/15/64 | &nbsp;&nbsp; 15848 | 15420167 |
| Mondelez International Inc. |  |  |
| 2.63%, 09/04/50 | &nbsp;&nbsp; 7556 | 4612774 |
| 2.75%, 04/13/30 | &nbsp;&nbsp; 9315 | 8419584 |
| 3.00%, 03/17/32 | &nbsp;&nbsp; 7227 | 6400607 |
| Sysco Corp. |  |  |
| 3.15%, 12/14/51<sup>(a)</sup> | &nbsp;&nbsp; 5209 | 3473178 |
| 5.95%, 04/01/30 | &nbsp;&nbsp; 10769 | 11294749 |
| 6.60%, 04/01/50<sup>(a)</sup> | &nbsp;&nbsp; 9875 | 11113203 |
| Tyson Foods Inc. |  |  |
| 4.35%, 03/01/29 | &nbsp;&nbsp; 10713 | 10454947 |
| 4.55%, 06/02/47 | &nbsp;&nbsp; 6859 | 5746447 |
| 5.10%, 09/28/48 | &nbsp;&nbsp; 14014 | 12739394 |
| 5.70%, 03/15/34 | &nbsp;&nbsp; 10488 | 10679713 |
|  |  | 425624692 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| Atmos Energy Corp., 4.13%, 10/15/44<sup>(a)</sup> | &nbsp;&nbsp; 9985 | 8407521 |
| CenterPoint Energy Resources Corp., 5.25%, <br> 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 1007 | 1024395 |
| NiSource Inc. |  |  |
| 1.70%, 02/15/31 | &nbsp;&nbsp; 6243 | 5152777 |
| 2.95%, 09/01/29 | &nbsp;&nbsp; 2790 | 2558630 |
| 3.60%, 05/01/30 | &nbsp;&nbsp; 6808 | 6375741 |
| 3.95%, 03/30/48 | &nbsp;&nbsp; 8136 | 6413671 |
| 4.38%, 05/15/47 | &nbsp;&nbsp; 8289 | 6989562 |
| 4.80%, 02/15/44 | &nbsp;&nbsp; 5883 | 5316489 |
| 5.25%, 03/30/28<sup>(a)</sup> | &nbsp;&nbsp; 2250 | 2282323 |
|  |  | 44521109 |
| **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** |
| Regal Rexnord Corp. |  |  |
| 6.05%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9842 | 10087046 |
| 6.30%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9305 | 9630298 |
| 6.40%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 11638 | 12154867 |
| Stanley Black & Decker Inc. |  |  |
| 2.30%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7631 | 6657960 |
| 2.75%, 11/15/50 | &nbsp;&nbsp; 4758 | 2867986 |
|  |  | 41398157 |
| **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** |
| Abbott Laboratories |  |  |
| 4.75%, 11/30/36<sup>(a)</sup> | &nbsp;&nbsp; 12766 | 12534242 |
| 4.90%, 11/30/46<sup>(a)</sup> | &nbsp;&nbsp; 20056 | 19378292 |
| Agilent Technologies Inc., 2.30%, 03/12/31<sup>(a)</sup> | &nbsp;&nbsp; 2049 | 1757688 |
| Baxter International Inc. |  |  |
| 2.27%, 12/01/28 | &nbsp;&nbsp; 12113 | 10898856 |
| 2.54%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 10655 | 8949194 |
| 3.13%, 12/01/51<sup>(a)</sup> | &nbsp;&nbsp; 11646 | 7473057 |
| Danaher Corp. |  |  |
| 2.60%, 10/01/50<sup>(a)</sup> | &nbsp;&nbsp; 7369 | 4612748 |
| 2.80%, 12/10/51<sup>(a)</sup> | &nbsp;&nbsp; 5754 | 3739761 |
| DH Europe Finance II SARL |  |  |
| 2.60%, 11/15/29 | &nbsp;&nbsp; 4574 | 4155009 |
| 3.25%, 11/15/39 | &nbsp;&nbsp; 3948 | 3131081 |
| 3.40%, 11/15/49 | &nbsp;&nbsp; 5099 | 3755367 |
| GE HealthCare Technologies Inc. |  |  |
| 4.80%, 08/14/29 | &nbsp;&nbsp; 10781 | 10758464 |
| 5.86%, 03/15/30 | &nbsp;&nbsp; 12365 | 12920603 |
| 5.91%, 11/22/32<sup>(a)</sup> | &nbsp;&nbsp; 15764 | 16631294 |
| 6.38%, 11/22/52<sup>(a)</sup> | &nbsp;&nbsp; 3037 | 3385029 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products (continued)** | **Health Care - Products (continued)** | **Health Care - Products (continued)** |
| Medtronic Global Holdings SCA |  |  |
| 4.25%, 03/30/28<sup>(a)</sup> | &nbsp;&nbsp; $4255 | $4229785 |
| 4.50%, 03/30/33<sup>(a)</sup> | &nbsp;&nbsp; 9133 | 8910593 |
| Medtronic Inc. |  |  |
| 4.38%, 03/15/35 | &nbsp;&nbsp; 12329 | 11798529 |
| 4.63%, 03/15/45<sup>(a)</sup> | &nbsp;&nbsp; 10538 | 9588154 |
| Solventum Corp. |  |  |
| 5.40%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 17235 | 17442911 |
| 5.45%, 03/13/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 9712 | 9788281 |
| 5.60%, 03/23/34<sup>(b)</sup> | &nbsp;&nbsp; 15214 | 15333254 |
| 5.90%, 04/30/54<sup>(a)(b)</sup> | &nbsp;&nbsp; 8615 | 8631520 |
| Stryker Corp. |  |  |
| 1.95%, 06/15/30 | &nbsp;&nbsp; 10668 | 9186175 |
| 4.25%, 09/11/29<sup>(a)</sup> | &nbsp;&nbsp; 8643 | 8461522 |
| 4.63%, 09/11/34<sup>(a)</sup> | &nbsp;&nbsp; 4316 | 4166796 |
| 4.63%, 03/15/46<sup>(a)</sup> | &nbsp;&nbsp; 3113 | 2781388 |
| Thermo Fisher Scientific Inc. |  |  |
| 2.00%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 11181 | 9420850 |
| 2.60%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 9992 | 9122751 |
| 2.80%, 10/15/41 | &nbsp;&nbsp; 3589 | 2601737 |
| 4.10%, 08/15/47<sup>(a)</sup> | &nbsp;&nbsp; 4068 | 3423884 |
| 4.98%, 08/10/30<sup>(a)</sup> | &nbsp;&nbsp; 7613 | 7729876 |
| 5.00%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 9832 | 9992636 |
| 5.09%, 08/10/33 | &nbsp;&nbsp; 7915 | 8024404 |
| Zimmer Biomet Holdings Inc., 2.60%, 11/24/31 | &nbsp;&nbsp; 2272 | 1948463 |
|  |  | 286664194 |
| **Health Care - Services — 4.3%** | **Health Care - Services — 4.3%** | **Health Care - Services — 4.3%** |
| Aetna Inc. |  |  |
| 3.88%, 08/15/47<sup>(a)</sup> | &nbsp;&nbsp; 11507 | 8465432 |
| 6.63%, 06/15/36 | &nbsp;&nbsp; 7942 | 8586110 |
| Ascension Health |  |  |
| 3.95%, 11/15/46<sup>(a)</sup> | &nbsp;&nbsp; 1360 | 1126547 |
| Series B, 2.53%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9020 | 8174885 |
| Centene Corp. |  |  |
| 2.45%, 07/15/28 | &nbsp;&nbsp; 16058 | 14457791 |
| 2.50%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 17333 | 14484795 |
| 2.63%, 08/01/31 | &nbsp;&nbsp; 13426 | 11154148 |
| 3.00%, 10/15/30 | &nbsp;&nbsp; 22585 | 19570930 |
| 3.38%, 02/15/30 | &nbsp;&nbsp; 17986 | 16120800 |
| 4.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 8294 | 8025544 |
| 4.63%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 30661 | 29274298 |
| Cigna Group (The) |  |  |
| 2.38%, 03/15/31 | &nbsp;&nbsp; 14466 | 12348089 |
| 2.40%, 03/15/30 | &nbsp;&nbsp; 10828 | 9533622 |
| 3.20%, 03/15/40 | &nbsp;&nbsp; 6593 | 4960158 |
| 3.40%, 03/15/50 | &nbsp;&nbsp; 10789 | 7434309 |
| 3.40%, 03/15/51<sup>(a)</sup> | &nbsp;&nbsp; 13707 | 9393107 |
| 3.88%, 10/15/47<sup>(a)</sup> | &nbsp;&nbsp; 10126 | 7634940 |
| 4.38%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 25247 | 24789143 |
| 4.80%, 08/15/38 | &nbsp;&nbsp; 13225 | 12276340 |
| 4.80%, 07/15/46 | &nbsp;&nbsp; 12631 | 11124003 |
| 4.90%, 12/15/48<sup>(a)</sup> | &nbsp;&nbsp; 23878 | 21194311 |
| 5.00%, 05/15/29 | &nbsp;&nbsp; 1516 | 1521919 |
| 5.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6787 | 6830860 |
| 5.25%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 10889 | 10852784 |
| 5.40%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 4037 | 4087772 |
| 5.60%, 02/15/54<sup>(a)</sup> | &nbsp;&nbsp; 12026 | 11733783 |
| CommonSpirit Health |  |  |
| 3.35%, 10/01/29 | &nbsp;&nbsp; 3156 | 2932103 |
| 4.19%, 10/01/49 | &nbsp;&nbsp; 1761 | 1438592 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Elevance Health Inc. |  |  |
| 2.25%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; $6753 | $5882052 |
| 2.55%, 03/15/31 | &nbsp;&nbsp; 5858 | 5073976 |
| 2.88%, 09/15/29 | &nbsp;&nbsp; 6929 | 6322166 |
| 3.13%, 05/15/50 | &nbsp;&nbsp; 8946 | 5936764 |
| 3.60%, 03/15/51 | &nbsp;&nbsp; 11216 | 8129784 |
| 3.70%, 09/15/49 | &nbsp;&nbsp; 8013 | 5937530 |
| 4.10%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6487 | 6363838 |
| 4.38%, 12/01/47 | &nbsp;&nbsp; 12001 | 9960918 |
| 4.55%, 03/01/48 | &nbsp;&nbsp; 8308 | 7131389 |
| 4.63%, 05/15/42 | &nbsp;&nbsp; 6171 | 5452464 |
| 4.65%, 01/15/43 | &nbsp;&nbsp; 9896 | 8785299 |
| 4.65%, 08/15/44<sup>(a)</sup> | &nbsp;&nbsp; 4845 | 4269864 |
| 4.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5236 | 5198541 |
| 4.75%, 02/15/33 | &nbsp;&nbsp; 4672 | 4526919 |
| 4.95%, 11/01/31 | &nbsp;&nbsp; 9395 | 9332385 |
| 5.13%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 9528 | 8794431 |
| 5.20%, 02/15/35 | &nbsp;&nbsp; 9068 | 9026351 |
| 5.38%, 06/15/34 | &nbsp;&nbsp; 5052 | 5098914 |
| 5.65%, 06/15/54 | &nbsp;&nbsp; 7870 | 7841983 |
| 5.70%, 02/15/55 | &nbsp;&nbsp; 7646 | 7670517 |
| 5.85%, 11/01/64 | &nbsp;&nbsp; 9435 | 9503323 |
| 6.10%, 10/15/52<sup>(a)</sup> | &nbsp;&nbsp; 7592 | 7953078 |
| HCA Inc. |  |  |
| 2.38%, 07/15/31 | &nbsp;&nbsp; 9020 | 7592478 |
| 3.50%, 09/01/30 | &nbsp;&nbsp; 21241 | 19462599 |
| 3.50%, 07/15/51<sup>(a)</sup> | &nbsp;&nbsp; 13846 | 9428222 |
| 3.63%, 03/15/32 | &nbsp;&nbsp; 15488 | 13916713 |
| 4.13%, 06/15/29 | &nbsp;&nbsp; 15416 | 14835094 |
| 4.63%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 16353 | 13452884 |
| 5.13%, 06/15/39<sup>(a)</sup> | &nbsp;&nbsp; 6252 | 5886919 |
| 5.20%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4991 | 5036573 |
| 5.25%, 06/15/49 | &nbsp;&nbsp; 17233 | 15614802 |
| 5.45%, 04/01/31 | &nbsp;&nbsp; 11987 | 12107642 |
| 5.45%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; 12730 | 12613298 |
| 5.50%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; 10722 | 10766801 |
| 5.50%, 06/15/47 | &nbsp;&nbsp; 13483 | 12773403 |
| 5.60%, 04/01/34 | &nbsp;&nbsp; 10739 | 10777581 |
| 5.63%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 6676 | 6810243 |
| 5.88%, 02/01/29 | &nbsp;&nbsp; 9177 | 9436187 |
| 5.90%, 06/01/53<sup>(a)</sup> | &nbsp;&nbsp; 8765 | 8678358 |
| 5.95%, 09/15/54 | &nbsp;&nbsp; 8250 | 8221957 |
| 6.00%, 04/01/54 | &nbsp;&nbsp; 11837 | 11871777 |
| Humana Inc. |  |  |
| 2.15%, 02/03/32<sup>(a)</sup> | &nbsp;&nbsp; 3689 | 2979438 |
| 3.70%, 03/23/29<sup>(a)</sup> | &nbsp;&nbsp; 6278 | 5948239 |
| 4.95%, 10/01/44 | &nbsp;&nbsp; 4164 | 3623732 |
| 5.38%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 5172 | 5179417 |
| 5.50%, 03/15/53<sup>(a)</sup> | &nbsp;&nbsp; 4702 | 4360107 |
| 5.75%, 04/15/54<sup>(a)</sup> | &nbsp;&nbsp; 6984 | 6702147 |
| 5.88%, 03/01/33 | &nbsp;&nbsp; 5151 | 5241610 |
| 5.95%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 2225 | 2282927 |
| ICON Investments Six DAC, 5.85%, 05/08/29 | &nbsp;&nbsp; 3693 | 3792811 |
| IQVIA Inc. |  |  |
| 5.70%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5511 | 5643196 |
| 6.25%, 02/01/29 | &nbsp;&nbsp; 9663 | 10063297 |
| Kaiser Foundation Hospitals |  |  |
| 4.15%, 05/01/47<sup>(a)</sup> | &nbsp;&nbsp; 5659 | 4814333 |
| Series 2019, 3.27%, 11/01/49<sup>(a)</sup> | &nbsp;&nbsp; 2028 | 1475930 |
| Series 2021, 2.81%, 06/01/41 | &nbsp;&nbsp; 13457 | 9853526 |
| Series 2021, 3.00%, 06/01/51<sup>(a)</sup> | &nbsp;&nbsp; 3758 | 2564763 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Laboratory Corp. of America Holdings |  |  |
| 4.70%, 02/01/45<sup>(a)</sup> | &nbsp;&nbsp; $9587 | $8470770 |
| 4.80%, 10/01/34<sup>(a)</sup> | &nbsp;&nbsp; 9429 | 9066279 |
| Providence St. Joseph Health Obligated Group, <br> Series 21A, 2.70%, 10/01/51<sup>(a)</sup><br>| &nbsp;&nbsp; 2569 | 1549622 |
| Quest Diagnostics Inc. |  |  |
| 2.95%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp; 6989 | 6319206 |
| 5.00%, 12/15/34<sup>(a)</sup> | &nbsp;&nbsp; 8081 | 7908417 |
| 6.40%, 11/30/33<sup>(a)</sup> | &nbsp;&nbsp; 5554 | 6024096 |
| UnitedHealth Group Inc. |  |  |
| 2.00%, 05/15/30 | &nbsp;&nbsp; 6869 | 5959452 |
| 2.30%, 05/15/31 | &nbsp;&nbsp; 11727 | 10091445 |
| 2.75%, 05/15/40 | &nbsp;&nbsp; 11428 | 8328413 |
| 2.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8257 | 7639926 |
| 2.90%, 05/15/50 | &nbsp;&nbsp; 10134 | 6624574 |
| 3.05%, 05/15/41 | &nbsp;&nbsp; 15334 | 11493891 |
| 3.13%, 05/15/60 | &nbsp;&nbsp; 7484 | 4752014 |
| 3.25%, 05/15/51 | &nbsp;&nbsp; 18177 | 12695253 |
| 3.50%, 08/15/39 | &nbsp;&nbsp; 10692 | 8764501 |
| 3.70%, 08/15/49 | &nbsp;&nbsp; 12307 | 9405119 |
| 3.75%, 10/15/47 | &nbsp;&nbsp; 6177 | 4782626 |
| 3.85%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6882 | 6727507 |
| 3.88%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6097 | 5935657 |
| 3.88%, 08/15/59<sup>(a)</sup> | &nbsp;&nbsp; 9896 | 7441280 |
| 4.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7959 | 7756595 |
| 4.20%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp; 11061 | 10603826 |
| 4.20%, 01/15/47 | &nbsp;&nbsp; 7546 | 6306049 |
| 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9590 | 9463011 |
| 4.25%, 03/15/43<sup>(a)</sup> | &nbsp;&nbsp; 7366 | 6451273 |
| 4.25%, 06/15/48 | &nbsp;&nbsp; 12785 | 10766537 |
| 4.45%, 12/15/48 | &nbsp;&nbsp; 10104 | 8741249 |
| 4.50%, 04/15/33 | &nbsp;&nbsp; 9778 | 9461886 |
| 4.63%, 07/15/35<sup>(a)</sup> | &nbsp;&nbsp; 7117 | 6891333 |
| 4.75%, 07/15/45 | &nbsp;&nbsp; 17692 | 16239975 |
| 4.75%, 05/15/52<sup>(a)</sup> | &nbsp;&nbsp; 17083 | 15395090 |
| 4.80%, 01/15/30 | &nbsp;&nbsp; 10490 | 10530554 |
| 4.90%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 6049 | 6076652 |
| 4.95%, 01/15/32 | &nbsp;&nbsp; 10968 | 10985065 |
| 4.95%, 05/15/62<sup>(a)</sup> | &nbsp;&nbsp; 7539 | 6867614 |
| 5.00%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp; 9446 | 9407694 |
| 5.05%, 04/15/53 | &nbsp;&nbsp; 16832 | 15810319 |
| 5.15%, 07/15/34<sup>(a)</sup> | &nbsp;&nbsp; 14409 | 14501088 |
| 5.20%, 04/15/63 | &nbsp;&nbsp; 14571 | 13636687 |
| 5.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2447 | 2501739 |
| 5.30%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10986 | 11281517 |
| 5.35%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 13474 | 13836845 |
| 5.38%, 04/15/54<sup>(a)</sup> | &nbsp;&nbsp; 14752 | 14490716 |
| 5.50%, 07/15/44<sup>(a)</sup> | &nbsp;&nbsp; 15464 | 15626418 |
| 5.50%, 04/15/64 | &nbsp;&nbsp; 9356 | 9196191 |
| 5.63%, 07/15/54<sup>(a)</sup> | &nbsp;&nbsp; 20808 | 21185041 |
| 5.75%, 07/15/64 | &nbsp;&nbsp; 14383 | 14623633 |
| 5.80%, 03/15/36 | &nbsp;&nbsp; 6053 | 6384879 |
| 5.88%, 02/15/53 | &nbsp;&nbsp; 17283 | 18125494 |
| 6.05%, 02/15/63<sup>(a)</sup> | &nbsp;&nbsp; 10718 | 11403340 |
| 6.88%, 02/15/38<sup>(a)</sup> | &nbsp;&nbsp; 8682 | 10050088 |
| Universal Health Services Inc., 2.65%, <br> 10/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 13156 | 11398783 |
|  |  | 1243505834 |
| **Holding Companies - Diversified — 0.2%** | **Holding Companies - Diversified — 0.2%** | **Holding Companies - Diversified — 0.2%** |
| Ares Capital Corp. |  |  |
| 2.88%, 06/15/28 | &nbsp;&nbsp; 9076 | 8282900 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| 5.88%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; $8577 | $8639304 |
| 5.95%, 07/15/29 | &nbsp;&nbsp; 6917 | 6980103 |
| Blue Owl Capital Corp., 2.88%, 06/11/28<sup>(a)</sup> | &nbsp;&nbsp; 1912 | 1727478 |
| Blue Owl Credit Income Corp. |  |  |
| 5.80%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp; 9688 | 9395118 |
| 6.65%, 03/15/31 | &nbsp;&nbsp; 8992 | 9058976 |
| FS KKR Capital Corp., 3.13%, 10/12/28<sup>(a)</sup> | &nbsp;&nbsp; 1836 | 1650809 |
|  |  | 45734688 |
| **Household Products & Wares — 0.0%** | **Household Products & Wares — 0.0%** | **Household Products & Wares — 0.0%** |
| Kimberly-Clark Corp., 3.10%, 03/26/30 | &nbsp;&nbsp; 9779 | 9088837 |
| **Insurance — 2.1%** | **Insurance — 2.1%** | **Insurance — 2.1%** |
| Allstate Corp. (The), 5.25%, 03/30/33<sup>(a)</sup> | &nbsp;&nbsp; 2158 | 2177167 |
| American International Group Inc. |  |  |
| 4.38%, 06/30/50<sup>(a)</sup> | &nbsp;&nbsp; 9666 | 8242252 |
| 4.75%, 04/01/48 | &nbsp;&nbsp; 10782 | 9767819 |
| 4.80%, 07/10/45<sup>(a)</sup> | &nbsp;&nbsp; 8112 | 7367691 |
| 5.13%, 03/27/33<sup>(a)</sup> | &nbsp;&nbsp; 3789 | 3779556 |
| Aon Corp. |  |  |
| 2.80%, 05/15/30 | &nbsp;&nbsp; 6918 | 6197805 |
| 3.75%, 05/02/29 | &nbsp;&nbsp; 9867 | 9444382 |
| Aon Corp./Aon Global Holdings PLC |  |  |
| 3.90%, 02/28/52<sup>(a)</sup> | &nbsp;&nbsp; 10421 | 7982578 |
| 5.35%, 02/28/33 | &nbsp;&nbsp; 3022 | 3062950 |
| Aon North America Inc. |  |  |
| 5.15%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 10957 | 11065594 |
| 5.45%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp; 11405 | 11548068 |
| 5.75%, 03/01/54<sup>(a)</sup> | &nbsp;&nbsp; 18626 | 18840165 |
| Arch Capital Group Ltd., 3.64%, 06/30/50 | &nbsp;&nbsp; 6091 | 4500390 |
| Arthur J Gallagher & Co., 3.50%, 05/20/51<sup>(a)</sup> | &nbsp;&nbsp; 7235 | 5097474 |
| Athene Holding Ltd. |  |  |
| 4.13%, 01/12/28 | &nbsp;&nbsp; 2918 | 2845194 |
| 6.25%, 04/01/54<sup>(a)</sup> | &nbsp;&nbsp; 6525 | 6691939 |
| Berkshire Hathaway Finance Corp. |  |  |
| 1.45%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1971 | 1650512 |
| 2.50%, 01/15/51 | &nbsp;&nbsp; 8596 | 5302011 |
| 2.85%, 10/15/50<sup>(a)</sup> | &nbsp;&nbsp; 16008 | 10501462 |
| 2.88%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 2819 | 2508499 |
| 3.85%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 21781 | 17184194 |
| 4.20%, 08/15/48 | &nbsp;&nbsp; 19340 | 16654815 |
| 4.25%, 01/15/49 | &nbsp;&nbsp; 17588 | 15340581 |
| 5.75%, 01/15/40<sup>(a)</sup> | &nbsp;&nbsp; 7928 | 8547511 |
| Berkshire Hathaway Inc., 4.50%, 02/11/43<sup>(a)</sup> | &nbsp;&nbsp; 11274 | 10521238 |
| Brighthouse Financial Inc., 4.70%, 06/22/47<sup>(a)</sup> | &nbsp;&nbsp; 1967 | 1561638 |
| Chubb Corp. (The), 6.00%, 05/11/37<sup>(a)</sup> | &nbsp;&nbsp; 10184 | 10935586 |
| Chubb INA Holdings LLC |  |  |
| 1.38%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 14536 | 12119264 |
| 3.05%, 12/15/61<sup>(a)</sup> | &nbsp;&nbsp; 3395 | 2160043 |
| 4.35%, 11/03/45 | &nbsp;&nbsp; 9386 | 8205681 |
| 5.00%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 14377 | 14365027 |
| Corebridge Financial Inc. |  |  |
| 3.85%, 04/05/29<sup>(a)</sup> | &nbsp;&nbsp; 7094 | 6787922 |
| 3.90%, 04/05/32 | &nbsp;&nbsp; 10966 | 10025142 |
| 4.40%, 04/05/52<sup>(a)</sup> | &nbsp;&nbsp; 9380 | 7700968 |
| 5.75%, 01/15/34 | &nbsp;&nbsp; 7047 | 7206197 |
| Equitable Holdings Inc. |  |  |
| 4.35%, 04/20/28 | &nbsp;&nbsp; 10285 | 10088784 |
| 5.00%, 04/20/48<sup>(a)</sup> | &nbsp;&nbsp; 10950 | 10044449 |
| Everest Reinsurance Holdings Inc. |  |  |
| 3.13%, 10/15/52<sup>(a)</sup> | &nbsp;&nbsp; 8478 | 5375258 |
| 3.50%, 10/15/50 | &nbsp;&nbsp; 6993 | 4818185 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Fairfax Financial Holdings Ltd. |  |  |
| 5.63%, 08/16/32<sup>(a)</sup> | &nbsp;&nbsp; $1911 | $1934839 |
| 6.00%, 12/07/33 | &nbsp;&nbsp; 5385 | 5528948 |
| 6.35%, 03/22/54<sup>(a)</sup> | &nbsp;&nbsp; 7379 | 7672768 |
| Hartford Financial Services Group Inc. (The), <br> 3.60%, 08/19/49<br>| &nbsp;&nbsp; 2158 | 1612758 |
| Manulife Financial Corp. |  |  |
| 3.70%, 03/16/32<sup>(a)</sup> | &nbsp;&nbsp; 6816 | 6312071 |
| 5.38%, 03/04/46 | &nbsp;&nbsp; 3526 | 3485005 |
| Marsh & McLennan Companies Inc. |  |  |
| 2.25%, 11/15/30 | &nbsp;&nbsp; 4867 | 4227233 |
| 4.38%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 16471 | 16263875 |
| 4.65%, 03/15/30 | &nbsp;&nbsp; 14325 | 14277481 |
| 4.85%, 11/15/31 | &nbsp;&nbsp; 14325 | 14285888 |
| 4.90%, 03/15/49<sup>(a)</sup> | &nbsp;&nbsp; 9152 | 8484821 |
| 5.00%, 03/15/35 | &nbsp;&nbsp; 23420 | 23310533 |
| 5.40%, 03/15/55 | &nbsp;&nbsp; 16725 | 16666054 |
| 5.70%, 09/15/53<sup>(a)</sup> | &nbsp;&nbsp; 7488 | 7702065 |
| MetLife Inc. |  |  |
| 4.05%, 03/01/45 | &nbsp;&nbsp; 8526 | 7079637 |
| 4.13%, 08/13/42 | &nbsp;&nbsp; 7154 | 6087243 |
| 4.55%, 03/23/30<sup>(a)</sup> | &nbsp;&nbsp; 4490 | 4463119 |
| 4.60%, 05/13/46<sup>(a)</sup> | &nbsp;&nbsp; 7211 | 6467938 |
| 4.88%, 11/13/43 | &nbsp;&nbsp; 6873 | 6433818 |
| 5.00%, 07/15/52<sup>(a)</sup> | &nbsp;&nbsp; 6407 | 5992827 |
| 5.25%, 01/15/54<sup>(a)</sup> | &nbsp;&nbsp; 8459 | 8256995 |
| 5.30%, 12/15/34<sup>(a)</sup> | &nbsp;&nbsp; 4488 | 4530068 |
| 5.38%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6017 | 6175751 |
| 5.70%, 06/15/35<sup>(a)</sup> | &nbsp;&nbsp; 9253 | 9669540 |
| 5.88%, 02/06/41<sup>(a)</sup> | &nbsp;&nbsp; 7954 | 8311799 |
| 6.38%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 3702 | 4055796 |
| Progressive Corp. (The), 4.13%, 04/15/47 | &nbsp;&nbsp; 6403 | 5349530 |
| Prudential Financial Inc. |  |  |
| 3.70%, 03/13/51<sup>(a)</sup> | &nbsp;&nbsp; 13968 | 10562405 |
| 3.91%, 12/07/47 | &nbsp;&nbsp; 8496 | 6708314 |
| 3.94%, 12/07/49 | &nbsp;&nbsp; 9064 | 7150388 |
| 4.35%, 02/25/50 | &nbsp;&nbsp; 8559 | 7265317 |
| 4.60%, 05/15/44<sup>(a)</sup> | &nbsp;&nbsp; 4440 | 4000545 |
| 5.70%, 12/14/36<sup>(a)</sup> | &nbsp;&nbsp; 7389 | 7749050 |
| Travelers Companies Inc. (The) |  |  |
| 3.05%, 06/08/51 | &nbsp;&nbsp; 7224 | 4933858 |
| 5.35%, 11/01/40<sup>(a)</sup> | &nbsp;&nbsp; 4998 | 5003204 |
| 5.45%, 05/25/53 | &nbsp;&nbsp; 4659 | 4753213 |
| 6.25%, 06/15/37<sup>(a)</sup> | &nbsp;&nbsp; 7695 | 8453819 |
| Willis North America Inc. |  |  |
| 5.35%, 05/15/33 | &nbsp;&nbsp; 2448 | 2458091 |
| 5.90%, 03/05/54 | &nbsp;&nbsp; 5791 | 5814041 |
|  |  | 607706636 |
| **Internet — 2.3%** | **Internet — 2.3%** | **Internet — 2.3%** |
| Alphabet Inc. |  |  |
| 1.10%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 17258 | 14383321 |
| 1.90%, 08/15/40 | &nbsp;&nbsp; 9095 | 6117528 |
| 2.05%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp; 20226 | 11925527 |
| 2.25%, 08/15/60<sup>(a)</sup> | &nbsp;&nbsp; 12820 | 7337699 |
| Amazon.com Inc. |  |  |
| 1.50%, 06/03/30<sup>(a)</sup> | &nbsp;&nbsp; 17338 | 14727778 |
| 1.65%, 05/12/28 | &nbsp;&nbsp; 12607 | 11466480 |
| 2.10%, 05/12/31 | &nbsp;&nbsp; 27002 | 23211087 |
| 2.50%, 06/03/50<sup>(a)</sup> | &nbsp;&nbsp; 22260 | 13920102 |
| 2.70%, 06/03/60 | &nbsp;&nbsp; 13368 | 8035311 |
| 2.88%, 05/12/41 | &nbsp;&nbsp; 22428 | 16921406 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| 3.10%, 05/12/51<sup>(a)</sup> | &nbsp;&nbsp; $27680 | $19401510 |
| 3.25%, 05/12/61 | &nbsp;&nbsp; 11466 | 7799505 |
| 3.45%, 04/13/29 | &nbsp;&nbsp; 8705 | 8382031 |
| 3.60%, 04/13/32 | &nbsp;&nbsp; 19417 | 18131290 |
| 3.88%, 08/22/37 | &nbsp;&nbsp; 17820 | 16003080 |
| 3.95%, 04/13/52<sup>(a)</sup> | &nbsp;&nbsp; 21919 | 17962478 |
| 4.05%, 08/22/47 | &nbsp;&nbsp; 32319 | 27429384 |
| 4.10%, 04/13/62<sup>(a)</sup> | &nbsp;&nbsp; 7645 | 6252302 |
| 4.25%, 08/22/57 | &nbsp;&nbsp; 15412 | 13166339 |
| 4.55%, 12/01/27 | &nbsp;&nbsp; 1226 | 1232909 |
| 4.65%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8533 | 8600359 |
| 4.70%, 12/01/32 | &nbsp;&nbsp; 15979 | 16034410 |
| 4.80%, 12/05/34<sup>(a)</sup> | &nbsp;&nbsp; 9520 | 9589494 |
| 4.95%, 12/05/44<sup>(a)</sup> | &nbsp;&nbsp; 17951 | 17619081 |
| Booking Holdings Inc., 4.63%, 04/13/30 | &nbsp;&nbsp; 14817 | 14746065 |
| eBay Inc. |  |  |
| 2.60%, 05/10/31<sup>(a)</sup> | &nbsp;&nbsp; 8411 | 7313980 |
| 2.70%, 03/11/30<sup>(a)</sup> | &nbsp;&nbsp; 12064 | 10855303 |
| 3.65%, 05/10/51 | &nbsp;&nbsp; 6961 | 5058523 |
| 4.00%, 07/15/42 | &nbsp;&nbsp; 5537 | 4516054 |
| Expedia Group Inc. |  |  |
| 3.25%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 13794 | 12740820 |
| 3.80%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 763 | 738152 |
| Meta Platforms Inc. |  |  |
| 3.85%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 29041 | 27352214 |
| 4.30%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 13422 | 13328334 |
| 4.45%, 08/15/52 | &nbsp;&nbsp; 17380 | 15265892 |
| 4.55%, 08/15/31 | &nbsp;&nbsp; 14390 | 14264487 |
| 4.60%, 05/15/28 | &nbsp;&nbsp; 12442 | 12506437 |
| 4.65%, 08/15/62<sup>(a)</sup> | &nbsp;&nbsp; 11093 | 9832784 |
| 4.75%, 08/15/34 | &nbsp;&nbsp; 25632 | 25338578 |
| 4.80%, 05/15/30 | &nbsp;&nbsp; 14546 | 14742816 |
| 4.95%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp; 16611 | 16861784 |
| 5.40%, 08/15/54 | &nbsp;&nbsp; 26360 | 26384628 |
| 5.55%, 08/15/64 | &nbsp;&nbsp; 24013 | 24385720 |
| 5.60%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 18052 | 18681004 |
| 5.75%, 05/15/63 | &nbsp;&nbsp; 11910 | 12423224 |
| Netflix Inc. |  |  |
| 4.88%, 04/15/28 | &nbsp;&nbsp; 7604 | 7643472 |
| 4.90%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 8306 | 8279084 |
| 5.40%, 08/15/54 | &nbsp;&nbsp; 11342 | 11400767 |
| 5.88%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 13842 | 14446991 |
| 6.38%, 05/15/29 | &nbsp;&nbsp; 9384 | 10013868 |
| Uber Technologies Inc. |  |  |
| 4.30%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5342 | 5190507 |
| 4.80%, 09/15/34 | &nbsp;&nbsp; 4052 | 3923682 |
| 5.35%, 09/15/54<sup>(a)</sup> | &nbsp;&nbsp; 4684 | 4458284 |
|  |  | 668343865 |
| **Iron & Steel — 0.0%** | **Iron & Steel — 0.0%** | **Iron & Steel — 0.0%** |
| ArcelorMittal SA, 6.80%, 11/29/32<sup>(a)</sup> | &nbsp;&nbsp; 9792 | 10616450 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| Las Vegas Sands Corp., 3.90%, 08/08/29<sup>(a)</sup> | &nbsp;&nbsp; 4039 | 3774932 |
| Marriott International Inc./MD |  |  |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 8419 | 8437022 |
| 5.30%, 05/15/34 | &nbsp;&nbsp; 10055 | 10042156 |
| 5.35%, 03/15/35<sup>(a)</sup> | &nbsp;&nbsp; 10925 | 10877043 |
| Series FF, 4.63%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9550 | 9410288 |
| Series GG, 3.50%, 10/15/32 | &nbsp;&nbsp; 7706 | 6848480 |
| Series HH, 2.85%, 04/15/31 | &nbsp;&nbsp; 10603 | 9309073 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| Sands China Ltd., 5.40%, 08/08/28<sup>(a)</sup> | &nbsp;&nbsp; $9900 | $9856420 |
|  |  | 68555414 |
| **Machinery — 0.7%** | **Machinery — 0.7%** | **Machinery — 0.7%** |
| Caterpillar Inc. |  |  |
| 2.60%, 04/09/30<sup>(a)</sup> | &nbsp;&nbsp; 6389 | 5785295 |
| 3.25%, 09/19/49<sup>(a)</sup> | &nbsp;&nbsp; 9913 | 7217010 |
| 3.25%, 04/09/50<sup>(a)</sup> | &nbsp;&nbsp; 9591 | 6951278 |
| 3.80%, 08/15/42 | &nbsp;&nbsp; 15701 | 13104238 |
| 5.20%, 05/27/41 | &nbsp;&nbsp; 5927 | 5888531 |
| Deere & Co. |  |  |
| 3.75%, 04/15/50<sup>(a)</sup> | &nbsp;&nbsp; 8574 | 6935394 |
| 3.90%, 06/09/42<sup>(a)</sup> | &nbsp;&nbsp; 6579 | 5625300 |
| Ingersoll Rand Inc. |  |  |
| 5.18%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6965 | 7059250 |
| 5.45%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 7351 | 7501271 |
| 5.70%, 08/14/33 | &nbsp;&nbsp; 6157 | 6386996 |
| John Deere Capital Corp. |  |  |
| 4.40%, 09/08/31 | &nbsp;&nbsp; 9605 | 9369515 |
| 4.50%, 01/16/29 | &nbsp;&nbsp; 13536 | 13505781 |
| 4.70%, 06/10/30 | &nbsp;&nbsp; 9742 | 9738738 |
| 4.75%, 01/20/28<sup>(a)</sup> | &nbsp;&nbsp; 154 | 155313 |
| 4.85%, 06/11/29<sup>(a)</sup> | &nbsp;&nbsp; 7910 | 7971092 |
| 4.90%, 03/07/31<sup>(a)</sup> | &nbsp;&nbsp; 7554 | 7600956 |
| 4.95%, 07/14/28 | &nbsp;&nbsp; 8248 | 8361439 |
| 5.10%, 04/11/34<sup>(a)</sup> | &nbsp;&nbsp; 5947 | 6030916 |
| 5.15%, 09/08/33<sup>(a)</sup> | &nbsp;&nbsp; 8674 | 8849047 |
| Series 1, 5.05%, 06/12/34<sup>(a)</sup> | &nbsp;&nbsp; 7784 | 7851480 |
| Otis Worldwide Corp. |  |  |
| 2.57%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 14414 | 12845045 |
| 3.11%, 02/15/40<sup>(a)</sup> | &nbsp;&nbsp; 5704 | 4423926 |
| 3.36%, 02/15/50<sup>(a)</sup> | &nbsp;&nbsp; 5431 | 3927666 |
| 5.25%, 08/16/28<sup>(a)</sup> | &nbsp;&nbsp; 6885 | 7010107 |
| Westinghouse Air Brake Technologies Corp., <br> 4.70%, 09/15/28<br>| &nbsp;&nbsp; 10772 | 10722723 |
|  |  | 190818307 |
| **Manufacturing — 0.3%** | **Manufacturing — 0.3%** | **Manufacturing — 0.3%** |
| 3M Co. |  |  |
| 2.38%, 08/26/29<sup>(a)</sup> | &nbsp;&nbsp; 8704 | 7834234 |
| 3.25%, 08/26/49<sup>(a)</sup> | &nbsp;&nbsp; 6596 | 4694457 |
| 3.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7608 | 7211113 |
| 4.00%, 09/14/48<sup>(a)</sup> | &nbsp;&nbsp; 7774 | 6501771 |
| Eaton Corp. |  |  |
| 4.15%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 11524 | 11027696 |
| 4.15%, 11/02/42 | &nbsp;&nbsp; 6771 | 5852476 |
| Illinois Tool Works Inc., 3.90%, 09/01/42 | &nbsp;&nbsp; 6698 | 5600259 |
| Parker-Hannifin Corp. |  |  |
| 3.25%, 06/14/29 | &nbsp;&nbsp; 6477 | 6082069 |
| 4.00%, 06/14/49<sup>(a)</sup> | &nbsp;&nbsp; 5584 | 4565434 |
| 4.50%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10923 | 10838471 |
| Teledyne Technologies Inc., 2.75%, 04/01/31 | &nbsp;&nbsp; 9271 | 8201723 |
|  |  | 78409703 |
| **Media — 3.4%** | **Media — 3.4%** | **Media — 3.4%** |
| Charter Communications <br> Operating LLC/Charter Communications <br> Operating Capital<br>|  |  |
| 2.25%, 01/15/29 | &nbsp;&nbsp; 5065 | 4447248 |
| 2.30%, 02/01/32 | &nbsp;&nbsp; 6836 | 5395342 |
| 2.80%, 04/01/31 | &nbsp;&nbsp; 6725 | 5651532 |
| 3.50%, 06/01/41 | &nbsp;&nbsp; 13619 | 9323359 |
| 3.50%, 03/01/42 | &nbsp;&nbsp; 11145 | 7514599 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| 3.70%, 04/01/51 | &nbsp;&nbsp; $18255 | $11416336 |
| 3.75%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 651 | 619935 |
| 3.85%, 04/01/61 | &nbsp;&nbsp; 16782 | 10089667 |
| 3.90%, 06/01/52 | &nbsp;&nbsp; 18918 | 12144853 |
| 3.95%, 06/30/62 | &nbsp;&nbsp; 11347 | 6900246 |
| 4.20%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2643 | 2546828 |
| 4.40%, 04/01/33 | &nbsp;&nbsp; 7663 | 6858404 |
| 4.40%, 12/01/61 | &nbsp;&nbsp; 11750 | 7833542 |
| 4.80%, 03/01/50 | &nbsp;&nbsp; 21814 | 16391400 |
| 5.05%, 03/30/29<sup>(a)</sup> | &nbsp;&nbsp; 5722 | 5607398 |
| 5.13%, 07/01/49 | &nbsp;&nbsp; 9805 | 7704514 |
| 5.25%, 04/01/53<sup>(a)</sup> | &nbsp;&nbsp; 11619 | 9288492 |
| 5.38%, 04/01/38 | &nbsp;&nbsp; 6374 | 5680903 |
| 5.38%, 05/01/47<sup>(a)</sup> | &nbsp;&nbsp; 20508 | 16764205 |
| 5.50%, 04/01/63 | &nbsp;&nbsp; 8141 | 6468252 |
| 5.75%, 04/01/48<sup>(a)</sup> | &nbsp;&nbsp; 19360 | 16528916 |
| 6.10%, 06/01/29 | &nbsp;&nbsp; 7206 | 7362991 |
| 6.38%, 10/23/35<sup>(a)</sup> | &nbsp;&nbsp; 14606 | 14627561 |
| 6.48%, 10/23/45 | &nbsp;&nbsp; 27745 | 26196485 |
| 6.55%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 10514 | 10719313 |
| 6.65%, 02/01/34 | &nbsp;&nbsp; 5580 | 5724437 |
| Comcast Corp. |  |  |
| 1.50%, 02/15/31 | &nbsp;&nbsp; 8417 | 6904475 |
| 1.95%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 10688 | 9038370 |
| 2.45%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp; 15286 | 8792010 |
| 2.65%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 7390 | 6658749 |
| 2.65%, 08/15/62 | &nbsp;&nbsp; 8500 | 4735482 |
| 2.80%, 01/15/51<sup>(a)</sup> | &nbsp;&nbsp; 16062 | 10095913 |
| 2.89%, 11/01/51 | &nbsp;&nbsp; 40379 | 25650784 |
| 2.94%, 11/01/56<sup>(a)</sup> | &nbsp;&nbsp; 46173 | 28489457 |
| 2.99%, 11/01/63 | &nbsp;&nbsp; 29714 | 17727622 |
| 3.15%, 02/15/28 | &nbsp;&nbsp; 4327 | 4132309 |
| 3.20%, 07/15/36<sup>(a)</sup> | &nbsp;&nbsp; 8421 | 6934999 |
| 3.25%, 11/01/39 | &nbsp;&nbsp; 12705 | 9857745 |
| 3.40%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8308 | 7757209 |
| 3.40%, 07/15/46 | &nbsp;&nbsp; 13316 | 9727414 |
| 3.45%, 02/01/50 | &nbsp;&nbsp; 16682 | 12022424 |
| 3.55%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2464 | 2375792 |
| 3.75%, 04/01/40 | &nbsp;&nbsp; 13554 | 11211758 |
| 3.90%, 03/01/38 | &nbsp;&nbsp; 9959 | 8579731 |
| 3.97%, 11/01/47 | &nbsp;&nbsp; 18416 | 14612787 |
| 4.00%, 08/15/47 | &nbsp;&nbsp; 8973 | 7186012 |
| 4.00%, 03/01/48 | &nbsp;&nbsp; 12379 | 9921890 |
| 4.00%, 11/01/49 | &nbsp;&nbsp; 20148 | 16004693 |
| 4.05%, 11/01/52 | &nbsp;&nbsp; 9756 | 7708338 |
| 4.15%, 10/15/28 | &nbsp;&nbsp; 24137 | 23672708 |
| 4.20%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 8330 | 7770312 |
| 4.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 7217 | 7009999 |
| 4.25%, 01/15/33 | &nbsp;&nbsp; 15013 | 14273446 |
| 4.40%, 08/15/35<sup>(a)</sup> | &nbsp;&nbsp; 5197 | 4874432 |
| 4.55%, 01/15/29 | &nbsp;&nbsp; 2035 | 2027222 |
| 4.60%, 10/15/38 | &nbsp;&nbsp; 7513 | 6971485 |
| 4.60%, 08/15/45 | &nbsp;&nbsp; 8406 | 7446097 |
| 4.65%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6495 | 6378761 |
| 4.70%, 10/15/48<sup>(a)</sup> | &nbsp;&nbsp; 17956 | 16183373 |
| 4.80%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp; 7616 | 7516321 |
| 4.95%, 10/15/58<sup>(a)</sup> | &nbsp;&nbsp; 6210 | 5654458 |
| 5.10%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3304 | 3356444 |
| 5.30%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 8182 | 8322098 |
| 5.35%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 14789 | 14299917 |
| 5.50%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; 1260 | 1306076 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| 5.50%, 05/15/64<sup>(a)</sup> | &nbsp;&nbsp; $10037 | $9822519 |
| 5.65%, 06/15/35 | &nbsp;&nbsp; 5452 | 5663136 |
| 5.65%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; 10379 | 10532355 |
| 7.05%, 03/15/33 | &nbsp;&nbsp; 5635 | 6417425 |
| Discovery Communications LLC |  |  |
| 3.63%, 05/15/30 | &nbsp;&nbsp; 5109 | 4516088 |
| 3.95%, 03/20/28 | &nbsp;&nbsp; 4499 | 4252629 |
| 4.13%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1410 | 1308791 |
| Fox Corp. |  |  |
| 4.71%, 01/25/29<sup>(a)</sup> | &nbsp;&nbsp; 23039 | 22905676 |
| 5.48%, 01/25/39<sup>(a)</sup> | &nbsp;&nbsp; 10940 | 10561115 |
| 5.58%, 01/25/49<sup>(a)</sup> | &nbsp;&nbsp; 9249 | 8761088 |
| 6.50%, 10/13/33 | &nbsp;&nbsp; 11604 | 12351059 |
| Paramount Global |  |  |
| 4.20%, 05/19/32 | &nbsp;&nbsp; 2549 | 2222618 |
| 4.38%, 03/15/43 | &nbsp;&nbsp; 5601 | 4033861 |
| 4.95%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 7906 | 7348555 |
| 4.95%, 05/19/50 | &nbsp;&nbsp; 3180 | 2373381 |
| 5.85%, 09/01/43 | &nbsp;&nbsp; 6366 | 5421603 |
| 6.88%, 04/30/36<sup>(a)</sup> | &nbsp;&nbsp; 7787 | 7761380 |
| 7.88%, 07/30/30 | &nbsp;&nbsp; 1834 | 1975432 |
| Time Warner Cable Enterprises LLC, 8.38%, <br> 07/15/33<br>| &nbsp;&nbsp; 10209 | 11457738 |
| Time Warner Cable LLC |  |  |
| 4.50%, 09/15/42 | &nbsp;&nbsp; 8805 | 6576241 |
| 5.50%, 09/01/41 | &nbsp;&nbsp; 9912 | 8362729 |
| 5.88%, 11/15/40 | &nbsp;&nbsp; 4375 | 3867909 |
| 6.55%, 05/01/37 | &nbsp;&nbsp; 13352 | 12821995 |
| 6.75%, 06/15/39<sup>(a)</sup> | &nbsp;&nbsp; 14422 | 13997402 |
| 7.30%, 07/01/38<sup>(a)</sup> | &nbsp;&nbsp; 13167 | 13408056 |
| TWDC Enterprises 18 Corp., 4.13%, 06/01/44 | &nbsp;&nbsp; 9215 | 7809998 |
| Walt Disney Co. (The) |  |  |
| 2.00%, 09/01/29 | &nbsp;&nbsp; 24767 | 21989141 |
| 2.65%, 01/13/31<sup>(a)</sup> | &nbsp;&nbsp; 26970 | 23970763 |
| 2.75%, 09/01/49 | &nbsp;&nbsp; 15440 | 9959215 |
| 3.50%, 05/13/40 | &nbsp;&nbsp; 16697 | 13567289 |
| 3.60%, 01/13/51 | &nbsp;&nbsp; 26087 | 19657932 |
| 3.80%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; 15860 | 15199848 |
| 3.80%, 05/13/60 | &nbsp;&nbsp; 5460 | 4095668 |
| 4.63%, 03/23/40<sup>(a)</sup> | &nbsp;&nbsp; 5181 | 4884976 |
| 4.70%, 03/23/50<sup>(a)</sup> | &nbsp;&nbsp; 18765 | 17255108 |
| 6.20%, 12/15/34 | &nbsp;&nbsp; 8899 | 9784042 |
| 6.40%, 12/15/35 | &nbsp;&nbsp; 8799 | 9748035 |
| 6.65%, 11/15/37 | &nbsp;&nbsp; 10404 | 11776880 |
|  |  | 991415546 |
| **Mining — 0.7%** | **Mining — 0.7%** | **Mining — 0.7%** |
| Barrick North America Finance LLC |  |  |
| 5.70%, 05/30/41 | &nbsp;&nbsp; 7916 | 8026765 |
| 5.75%, 05/01/43 | &nbsp;&nbsp; 6561 | 6681807 |
| Barrick PD Australia Finance Pty. Ltd., 5.95%, <br> 10/15/39<br>| &nbsp;&nbsp; 6955 | 7223497 |
| BHP Billiton Finance USA Ltd. |  |  |
| 4.13%, 02/24/42 | &nbsp;&nbsp; 8847 | 7650111 |
| 4.75%, 02/28/28<sup>(a)</sup> | &nbsp;&nbsp; 9485 | 9537591 |
| 4.90%, 02/28/33<sup>(a)</sup> | &nbsp;&nbsp; 7545 | 7506065 |
| 5.00%, 09/30/43 | &nbsp;&nbsp; 18555 | 17752057 |
| 5.25%, 09/08/30<sup>(a)</sup> | &nbsp;&nbsp; 11732 | 12036413 |
| 5.25%, 09/08/33 | &nbsp;&nbsp; 11500 | 11687172 |
| 5.50%, 09/08/53<sup>(a)</sup> | &nbsp;&nbsp; 6086 | 6182581 |
| Freeport-McMoRan Inc., 5.45%, 03/15/43<sup>(a)</sup> | &nbsp;&nbsp; 15210 | 14603375 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| Newmont Corp. |  |  |
| 2.25%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; $14887 | $12969785 |
| 2.60%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; 7633 | 6544738 |
| 4.88%, 03/15/42<sup>(a)</sup> | &nbsp;&nbsp; 8454 | 7947397 |
| 6.25%, 10/01/39<sup>(a)</sup> | &nbsp;&nbsp; 7806 | 8445162 |
| Newmont Corp./Newcrest Finance Pty. Ltd., <br> 5.35%, 03/15/34<sup>(a)</sup><br>| &nbsp;&nbsp; 8483 | 8637627 |
| Rio Tinto Alcan Inc., 6.13%, 12/15/33 | &nbsp;&nbsp; 7584 | 8191265 |
| Rio Tinto Finance USA Ltd. |  |  |
| 2.75%, 11/02/51<sup>(a)</sup> | &nbsp;&nbsp; 9924 | 6303633 |
| 5.20%, 11/02/40 | &nbsp;&nbsp; 9138 | 9057605 |
| 7.13%, 07/15/28 | &nbsp;&nbsp; 6141 | 6643117 |
| Rio Tinto Finance USA PLC |  |  |
| 4.13%, 08/21/42 | &nbsp;&nbsp; 7101 | 6123913 |
| 5.13%, 03/09/53 | &nbsp;&nbsp; 8598 | 8249682 |
|  |  | 198001358 |
| **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** |
| CDW LLC/CDW Finance Corp., 3.57%, <br> 12/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 7967 | 7141917 |
| **Oil & Gas — 3.7%** | **Oil & Gas — 3.7%** | **Oil & Gas — 3.7%** |
| BP Capital Markets America Inc. |  |  |
| 1.75%, 08/10/30<sup>(a)</sup> | &nbsp;&nbsp; 6325 | 5360152 |
| 2.72%, 01/12/32<sup>(a)</sup> | &nbsp;&nbsp; 16167 | 14005702 |
| 2.77%, 11/10/50 | &nbsp;&nbsp; 14198 | 8824697 |
| 2.94%, 06/04/51<sup>(a)</sup> | &nbsp;&nbsp; 19158 | 12310028 |
| 3.00%, 02/24/50<sup>(a)</sup> | &nbsp;&nbsp; 16862 | 11086065 |
| 3.00%, 03/17/52<sup>(a)</sup> | &nbsp;&nbsp; 11107 | 7237197 |
| 3.06%, 06/17/41 | &nbsp;&nbsp; 14251 | 10546511 |
| 3.38%, 02/08/61<sup>(a)</sup> | &nbsp;&nbsp; 15979 | 10538026 |
| 3.63%, 04/06/30 | &nbsp;&nbsp; 11380 | 10766065 |
| 3.94%, 09/21/28 | &nbsp;&nbsp; 6938 | 6743885 |
| 4.23%, 11/06/28<sup>(a)</sup> | &nbsp;&nbsp; 12977 | 12772109 |
| 4.70%, 04/10/29<sup>(a)</sup> | &nbsp;&nbsp; 7657 | 7631518 |
| 4.81%, 02/13/33 | &nbsp;&nbsp; 15884 | 15532022 |
| 4.89%, 09/11/33<sup>(a)</sup> | &nbsp;&nbsp; 12004 | 11804659 |
| 4.97%, 10/17/29 | &nbsp;&nbsp; 6572 | 6624448 |
| 4.99%, 04/10/34<sup>(a)</sup> | &nbsp;&nbsp; 9293 | 9172576 |
| 5.23%, 11/17/34 | &nbsp;&nbsp; 8607 | 8652752 |
| BP Capital Markets PLC, 3.72%, 11/28/28 | &nbsp;&nbsp; 4097 | 3949018 |
| Canadian Natural Resources Ltd. |  |  |
| 4.95%, 06/01/47<sup>(a)</sup> | &nbsp;&nbsp; 4544 | 4013035 |
| 6.25%, 03/15/38 | &nbsp;&nbsp; 7458 | 7758249 |
| Cenovus Energy Inc., 3.75%, 02/15/52<sup>(a)</sup> | &nbsp;&nbsp; 6077 | 4318939 |
| Chevron Corp. |  |  |
| 2.24%, 05/11/30<sup>(a)</sup> | &nbsp;&nbsp; 15187 | 13401545 |
| 3.08%, 05/11/50<sup>(a)</sup> | &nbsp;&nbsp; 5776 | 4023121 |
| Chevron USA Inc., 2.34%, 08/12/50<sup>(a)</sup> | &nbsp;&nbsp; 5855 | 3469021 |
| ConocoPhillips Co. |  |  |
| 3.76%, 03/15/42 | &nbsp;&nbsp; 5821 | 4727983 |
| 3.80%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 10470 | 7955211 |
| 4.03%, 03/15/62 | &nbsp;&nbsp; 13144 | 9991429 |
| 4.30%, 11/15/44<sup>(a)</sup> | &nbsp;&nbsp; 6189 | 5265956 |
| 5.05%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6941 | 6972016 |
| 5.30%, 05/15/53<sup>(a)</sup> | &nbsp;&nbsp; 8771 | 8462409 |
| 5.55%, 03/15/54<sup>(a)</sup> | &nbsp;&nbsp; 6101 | 6073969 |
| 6.50%, 02/01/39<sup>(a)</sup> | &nbsp;&nbsp; 13348 | 14806532 |
| 6.95%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 17054 | 18663916 |
| Continental Resources Inc./OK, 4.38%, <br> 01/15/28<br>| &nbsp;&nbsp; 1914 | 1856072 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Devon Energy Corp. |  |  |
| 4.75%, 05/15/42 | &nbsp;&nbsp; $4004 | $3404751 |
| 5.00%, 06/15/45<sup>(a)</sup> | &nbsp;&nbsp; 4837 | 4141507 |
| 5.20%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; 11263 | 10821337 |
| 5.60%, 07/15/41<sup>(a)</sup> | &nbsp;&nbsp; 9146 | 8648563 |
| 5.75%, 09/15/54<sup>(a)</sup> | &nbsp;&nbsp; 11716 | 10891279 |
| Diamondback Energy Inc. |  |  |
| 3.13%, 03/24/31 | &nbsp;&nbsp; 7403 | 6592783 |
| 3.50%, 12/01/29 | &nbsp;&nbsp; 11428 | 10654088 |
| 4.25%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 6689 | 5219629 |
| 5.15%, 01/30/30 | &nbsp;&nbsp; 8476 | 8513506 |
| 5.40%, 04/18/34 | &nbsp;&nbsp; 13226 | 13203835 |
| 5.75%, 04/18/54 | &nbsp;&nbsp; 9831 | 9565368 |
| 5.90%, 04/18/64 | &nbsp;&nbsp; 6885 | 6634189 |
| 6.25%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 8701 | 9166408 |
| EOG Resources Inc. |  |  |
| 4.38%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5355 | 5258111 |
| 4.95%, 04/15/50<sup>(a)</sup> | &nbsp;&nbsp; 3632 | 3331152 |
| EQT Corp., 5.75%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; 4989 | 5012853 |
| Equinor ASA |  |  |
| 2.38%, 05/22/30<sup>(a)</sup> | &nbsp;&nbsp; 1971 | 1759066 |
| 3.13%, 04/06/30 | &nbsp;&nbsp; 3541 | 3279293 |
| 3.25%, 11/18/49 | &nbsp;&nbsp; 1907 | 1364200 |
| 3.63%, 09/10/28<sup>(a)</sup> | &nbsp;&nbsp; 2694 | 2611196 |
| 3.70%, 04/06/50<sup>(a)</sup> | &nbsp;&nbsp; 1585 | 1232034 |
| 3.95%, 05/15/43 | &nbsp;&nbsp; 1560 | 1309553 |
| 4.80%, 11/08/43 | &nbsp;&nbsp; 1772 | 1663837 |
| 5.10%, 08/17/40 | &nbsp;&nbsp; 1581 | 1557220 |
| Expand Energy Corp., 4.75%, 02/01/32 | &nbsp;&nbsp; 2292 | 2155924 |
| Exxon Mobil Corp. |  |  |
| 2.44%, 08/16/29<sup>(a)</sup> | &nbsp;&nbsp; 4644 | 4238504 |
| 2.61%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 17674 | 15805869 |
| 3.00%, 08/16/39 | &nbsp;&nbsp; 6336 | 4901904 |
| 3.10%, 08/16/49 | &nbsp;&nbsp; 13868 | 9627759 |
| 3.45%, 04/15/51 | &nbsp;&nbsp; 20602 | 15117082 |
| 3.48%, 03/19/30 | &nbsp;&nbsp; 13955 | 13214365 |
| 3.57%, 03/06/45 | &nbsp;&nbsp; 10496 | 8205908 |
| 4.11%, 03/01/46 | &nbsp;&nbsp; 21800 | 18405435 |
| 4.23%, 03/19/40 | &nbsp;&nbsp; 16490 | 14702129 |
| 4.33%, 03/19/50<sup>(a)</sup> | &nbsp;&nbsp; 24905 | 21367832 |
| Hess Corp. |  |  |
| 5.60%, 02/15/41<sup>(a)</sup> | &nbsp;&nbsp; 8713 | 8765344 |
| 6.00%, 01/15/40 | &nbsp;&nbsp; 2521 | 2647164 |
| Marathon Oil Corp., 6.60%, 10/01/37 | &nbsp;&nbsp; 5594 | 6154865 |
| Marathon Petroleum Corp. |  |  |
| 4.75%, 09/15/44 | &nbsp;&nbsp; 8699 | 7424521 |
| 6.50%, 03/01/41<sup>(a)</sup> | &nbsp;&nbsp; 11818 | 12418298 |
| Occidental Petroleum Corp. |  |  |
| 5.20%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 16451 | 16390485 |
| 5.38%, 01/01/32<sup>(a)</sup> | &nbsp;&nbsp; 8051 | 7941136 |
| 5.55%, 10/01/34<sup>(a)</sup> | &nbsp;&nbsp; 11803 | 11573833 |
| 6.05%, 10/01/54 | &nbsp;&nbsp; 10335 | 10041793 |
| 6.13%, 01/01/31<sup>(a)</sup> | &nbsp;&nbsp; 10129 | 10424112 |
| 6.45%, 09/15/36 | &nbsp;&nbsp; 11157 | 11531312 |
| 6.60%, 03/15/46<sup>(a)</sup> | &nbsp;&nbsp; 4928 | 5053072 |
| 6.63%, 09/01/30 | &nbsp;&nbsp; 12723 | 13364038 |
| 7.50%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 7623 | 8430052 |
| 8.88%, 07/15/30 | &nbsp;&nbsp; 4404 | 5062556 |
| Phillips 66 |  |  |
| 2.15%, 12/15/30 | &nbsp;&nbsp; 9164 | 7815417 |
| 3.30%, 03/15/52 | &nbsp;&nbsp; 7042 | 4663902 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| 3.90%, 03/15/28 | &nbsp;&nbsp; $1978 | $1924633 |
| 4.65%, 11/15/34 | &nbsp;&nbsp; 8569 | 8108454 |
| 4.88%, 11/15/44<sup>(a)</sup> | &nbsp;&nbsp; 11617 | 10334359 |
| 5.88%, 05/01/42 | &nbsp;&nbsp; 12470 | 12654602 |
| Phillips 66 Co. |  |  |
| 4.95%, 12/01/27 | &nbsp;&nbsp; 592 | 597310 |
| 5.25%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1876 | 1890444 |
| 5.30%, 06/30/33<sup>(a)</sup> | &nbsp;&nbsp; 8568 | 8561690 |
| Pioneer Natural Resources Co. |  |  |
| 1.90%, 08/15/30 | &nbsp;&nbsp; 7435 | 6330454 |
| 2.15%, 01/15/31 | &nbsp;&nbsp; 4747 | 4071501 |
| Shell Finance U.S. Inc. |  |  |
| 2.38%, 11/07/29<sup>(a)</sup> | &nbsp;&nbsp; 12866 | 11596114 |
| 2.75%, 04/06/30<sup>(a)</sup> | &nbsp;&nbsp; 16788 | 15274350 |
| 3.25%, 04/06/50<sup>(a)</sup> | &nbsp;&nbsp; 19777 | 13916094 |
| 3.75%, 09/12/46 | &nbsp;&nbsp; 14195 | 11015908 |
| 4.00%, 05/10/46 | &nbsp;&nbsp; 22089 | 17999809 |
| 4.13%, 05/11/35<sup>(a)</sup> | &nbsp;&nbsp; 10272 | 9556107 |
| 4.38%, 05/11/45 | &nbsp;&nbsp; 29062 | 25085598 |
| 4.55%, 08/12/43 | &nbsp;&nbsp; 13010 | 11774469 |
| Shell International Finance BV |  |  |
| 3.00%, 11/26/51 | &nbsp;&nbsp; 7907 | 5255033 |
| 3.13%, 11/07/49 | &nbsp;&nbsp; 11513 | 7957394 |
| 3.88%, 11/13/28 | &nbsp;&nbsp; 5536 | 5395080 |
| 5.50%, 03/25/40<sup>(a)</sup> | &nbsp;&nbsp; 3926 | 4023376 |
| 6.38%, 12/15/38 | &nbsp;&nbsp; 21116 | 23500862 |
| Suncor Energy Inc. |  |  |
| 3.75%, 03/04/51<sup>(a)</sup> | &nbsp;&nbsp; 5028 | 3653806 |
| 4.00%, 11/15/47 | &nbsp;&nbsp; 2430 | 1853829 |
| 6.85%, 06/01/39 | &nbsp;&nbsp; 6748 | 7391677 |
| TotalEnergies Capital International SA |  |  |
| 2.83%, 01/10/30 | &nbsp;&nbsp; 8588 | 7871142 |
| 2.99%, 06/29/41 | &nbsp;&nbsp; 6878 | 5106072 |
| 3.13%, 05/29/50 | &nbsp;&nbsp; 19691 | 13597171 |
| 3.39%, 06/29/60 | &nbsp;&nbsp; 4779 | 3245936 |
| 3.46%, 02/19/29<sup>(a)</sup> | &nbsp;&nbsp; 5802 | 5557363 |
| 3.46%, 07/12/49 | &nbsp;&nbsp; 9565 | 7041078 |
| TotalEnergies Capital SA |  |  |
| 3.88%, 10/11/28 | &nbsp;&nbsp; 3745 | 3652810 |
| 4.72%, 09/10/34<sup>(a)</sup> | &nbsp;&nbsp; 9871 | 9630630 |
| 5.15%, 04/05/34<sup>(a)</sup> | &nbsp;&nbsp; 6576 | 6638432 |
| 5.28%, 09/10/54 | &nbsp;&nbsp; 9269 | 8918906 |
| 5.43%, 09/10/64 | &nbsp;&nbsp; 11854 | 11390669 |
| 5.49%, 04/05/54 | &nbsp;&nbsp; 13834 | 13699610 |
| 5.64%, 04/05/64<sup>(a)</sup> | &nbsp;&nbsp; 11876 | 11861868 |
| Valero Energy Corp. |  |  |
| 3.65%, 12/01/51<sup>(a)</sup> | &nbsp;&nbsp; 8793 | 6119091 |
| 6.63%, 06/15/37 | &nbsp;&nbsp; 13631 | 14726957 |
| Woodside Finance Ltd. |  |  |
| 5.10%, 09/12/34 | &nbsp;&nbsp; 7879 | 7620511 |
| 5.70%, 09/12/54<sup>(a)</sup> | &nbsp;&nbsp; 8440 | 8173946 |
|  |  | 1083172347 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| Baker Hughes Holdings LLC, 5.13%, 09/15/40 | &nbsp;&nbsp; 5487 | 5299030 |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc., 4.08%, 12/15/47<sup>(a)</sup><br>| &nbsp;&nbsp; 10574 | 8571034 |
| Halliburton Co. |  |  |
| 2.92%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 10138 | 9175211 |
| 4.75%, 08/01/43 | &nbsp;&nbsp; 3724 | 3317411 |
| 4.85%, 11/15/35<sup>(a)</sup> | &nbsp;&nbsp; 7767 | 7454796 |
| 5.00%, 11/15/45<sup>(a)</sup> | &nbsp;&nbsp; 13929 | 12655618 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** |
| 6.70%, 09/15/38<sup>(a)</sup> | &nbsp;&nbsp; $6873 | $7634223 |
| 7.45%, 09/15/39 | &nbsp;&nbsp; 7811 | 9211517 |
| Schlumberger Investment SA, 2.65%, <br> 06/26/30<sup>(a)</sup><br>| &nbsp;&nbsp; 8216 | 7372552 |
|  |  | 70691392 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| Amcor Flexibles North America Inc., 2.69%, <br> 05/25/31<sup>(a)</sup><br>| &nbsp;&nbsp; 4672 | 4048447 |
| Berry Global Inc. |  |  |
| 5.65%, 01/15/34<sup>(b)</sup> | &nbsp;&nbsp; 7283 | 7265190 |
| 5.80%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 6980 | 7080176 |
| Smurfit Kappa Treasury ULC |  |  |
| 5.20%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 8074 | 8155335 |
| 5.44%, 04/03/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 10115 | 10181472 |
| 5.78%, 04/03/54<sup>(a)(b)</sup> | &nbsp;&nbsp; 9941 | 10000643 |
| WRKCo Inc., 4.90%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7673 | 7643857 |
|  |  | 54375120 |
| **Pharmaceuticals — 7.3%** | **Pharmaceuticals — 7.3%** | **Pharmaceuticals — 7.3%** |
| AbbVie Inc. |  |  |
| 3.20%, 11/21/29 | &nbsp;&nbsp; 43636 | 40785020 |
| 4.05%, 11/21/39 | &nbsp;&nbsp; 34862 | 30623541 |
| 4.25%, 11/14/28<sup>(a)</sup> | &nbsp;&nbsp; 10262 | 10166618 |
| 4.25%, 11/21/49<sup>(a)</sup> | &nbsp;&nbsp; 46320 | 39356895 |
| 4.30%, 05/14/36 | &nbsp;&nbsp; 7241 | 6754716 |
| 4.40%, 11/06/42 | &nbsp;&nbsp; 23852 | 21287464 |
| 4.45%, 05/14/46 | &nbsp;&nbsp; 18644 | 16475824 |
| 4.50%, 05/14/35 | &nbsp;&nbsp; 16818 | 16059638 |
| 4.55%, 03/15/35 | &nbsp;&nbsp; 13429 | 12921294 |
| 4.70%, 05/14/45 | &nbsp;&nbsp; 23944 | 21962179 |
| 4.75%, 03/15/45 | &nbsp;&nbsp; 9042 | 8346244 |
| 4.80%, 03/15/29 | &nbsp;&nbsp; 16551 | 16672547 |
| 4.85%, 06/15/44 | &nbsp;&nbsp; 11354 | 10658889 |
| 4.88%, 11/14/48<sup>(a)</sup> | &nbsp;&nbsp; 15873 | 14841912 |
| 4.95%, 03/15/31 | &nbsp;&nbsp; 13222 | 13347527 |
| 5.05%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 20676 | 20822909 |
| 5.35%, 03/15/44 | &nbsp;&nbsp; 5829 | 5843584 |
| 5.40%, 03/15/54 | &nbsp;&nbsp; 24308 | 24487252 |
| 5.50%, 03/15/64 | &nbsp;&nbsp; 11449 | 11529912 |
| Astrazeneca Finance LLC |  |  |
| 1.75%, 05/28/28 | &nbsp;&nbsp; 13986 | 12730147 |
| 2.25%, 05/28/31<sup>(a)</sup> | &nbsp;&nbsp; 8932 | 7691955 |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 15350 | 15486842 |
| 4.88%, 03/03/28 | &nbsp;&nbsp; 4030 | 4069523 |
| 4.90%, 02/26/31 | &nbsp;&nbsp; 10484 | 10587129 |
| 5.00%, 02/26/34 | &nbsp;&nbsp; 12014 | 12080081 |
| AstraZeneca PLC |  |  |
| 1.38%, 08/06/30 | &nbsp;&nbsp; 14822 | 12398954 |
| 3.00%, 05/28/51<sup>(a)</sup> | &nbsp;&nbsp; 3349 | 2319662 |
| 4.00%, 01/17/29<sup>(a)</sup> | &nbsp;&nbsp; 13771 | 13486559 |
| 4.00%, 09/18/42 | &nbsp;&nbsp; 6377 | 5466915 |
| 4.38%, 11/16/45 | &nbsp;&nbsp; 5408 | 4798441 |
| 4.38%, 08/17/48<sup>(a)</sup> | &nbsp;&nbsp; 3749 | 3315589 |
| 6.45%, 09/15/37 | &nbsp;&nbsp; 23203 | 26003843 |
| Becton Dickinson & Co. |  |  |
| 1.96%, 02/11/31 | &nbsp;&nbsp; 9952 | 8355401 |
| 2.82%, 05/20/30<sup>(a)</sup> | &nbsp;&nbsp; 9715 | 8738921 |
| 4.67%, 06/06/47 | &nbsp;&nbsp; 11719 | 10316686 |
| 4.69%, 02/13/28<sup>(a)</sup> | &nbsp;&nbsp; 1908 | 1906964 |
| 4.69%, 12/15/44<sup>(a)</sup> | &nbsp;&nbsp; 7619 | 6802732 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Bristol-Myers Squibb Co. |  |  |
| 1.45%, 11/13/30<sup>(a)</sup> | &nbsp;&nbsp; $12343 | $10280711 |
| 2.35%, 11/13/40<sup>(a)</sup> | &nbsp;&nbsp; 10721 | 7339245 |
| 2.55%, 11/13/50 | &nbsp;&nbsp; 14734 | 8924404 |
| 2.95%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 13055 | 11521062 |
| 3.40%, 07/26/29<sup>(a)</sup> | &nbsp;&nbsp; 13504 | 12820361 |
| 3.55%, 03/15/42 | &nbsp;&nbsp; 13256 | 10614261 |
| 3.70%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 16048 | 12132304 |
| 3.90%, 02/20/28 | &nbsp;&nbsp; 3412 | 3349386 |
| 3.90%, 03/15/62 | &nbsp;&nbsp; 6360 | 4757965 |
| 4.13%, 06/15/39 | &nbsp;&nbsp; 11133 | 9828281 |
| 4.25%, 10/26/49 | &nbsp;&nbsp; 31894 | 26655152 |
| 4.35%, 11/15/47 | &nbsp;&nbsp; 11411 | 9665078 |
| 4.55%, 02/20/48 | &nbsp;&nbsp; 13326 | 11768669 |
| 4.90%, 02/22/29<sup>(a)</sup> | &nbsp;&nbsp; 11589 | 11728598 |
| 5.10%, 02/22/31<sup>(a)</sup> | &nbsp;&nbsp; 9795 | 9957945 |
| 5.20%, 02/22/34<sup>(a)</sup> | &nbsp;&nbsp; 18858 | 19180559 |
| 5.55%, 02/22/54<sup>(a)</sup> | &nbsp;&nbsp; 20505 | 20775319 |
| 5.65%, 02/22/64 | &nbsp;&nbsp; 14845 | 14882265 |
| 5.75%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 9229 | 9664055 |
| 5.90%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6635 | 7092201 |
| 6.25%, 11/15/53<sup>(a)</sup> | &nbsp;&nbsp; 11425 | 12581322 |
| 6.40%, 11/15/63 | &nbsp;&nbsp; 9725 | 10870008 |
| Cencora Inc., 2.70%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 12460 | 10896771 |
| CVS Health Corp. |  |  |
| 1.75%, 08/21/30 | &nbsp;&nbsp; 11383 | 9378193 |
| 1.88%, 02/28/31<sup>(a)</sup> | &nbsp;&nbsp; 9698 | 7884289 |
| 2.13%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 9619 | 7807836 |
| 2.70%, 08/21/40 | &nbsp;&nbsp; 12122 | 8100388 |
| 3.25%, 08/15/29 | &nbsp;&nbsp; 12797 | 11757623 |
| 3.75%, 04/01/30 | &nbsp;&nbsp; 13156 | 12200748 |
| 4.13%, 04/01/40 | &nbsp;&nbsp; 10741 | 8672039 |
| 4.25%, 04/01/50 | &nbsp;&nbsp; 7171 | 5475241 |
| 4.30%, 03/25/28 | &nbsp;&nbsp; 35551 | 34616172 |
| 4.78%, 03/25/38 | &nbsp;&nbsp; 35737 | 31886510 |
| 5.00%, 01/30/29 | &nbsp;&nbsp; 9007 | 8975279 |
| 5.05%, 03/25/48<sup>(a)</sup> | &nbsp;&nbsp; 61867 | 53401299 |
| 5.13%, 02/21/30 | &nbsp;&nbsp; 11759 | 11682294 |
| 5.13%, 07/20/45<sup>(a)</sup> | &nbsp;&nbsp; 26321 | 23062031 |
| 5.25%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp; 4116 | 4090815 |
| 5.25%, 02/21/33 | &nbsp;&nbsp; 13823 | 13574110 |
| 5.30%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; 9844 | 9662825 |
| 5.30%, 12/05/43<sup>(a)</sup> | &nbsp;&nbsp; 7998 | 7247047 |
| 5.40%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5276 | 5322242 |
| 5.55%, 06/01/31 | &nbsp;&nbsp; 8165 | 8223235 |
| 5.63%, 02/21/53<sup>(a)</sup> | &nbsp;&nbsp; 10457 | 9700180 |
| 5.70%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 9183 | 9215244 |
| 5.88%, 06/01/53<sup>(a)</sup> | &nbsp;&nbsp; 9024 | 8684928 |
| 6.00%, 06/01/44<sup>(a)</sup> | &nbsp;&nbsp; 6748 | 6603963 |
| 6.00%, 06/01/63 | &nbsp;&nbsp; 5611 | 5420982 |
| 6.05%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; 8180 | 8081549 |
| Eli Lilly & Co. |  |  |
| 2.25%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp; 2714 | 1607623 |
| 2.50%, 09/15/60 | &nbsp;&nbsp; 5024 | 2835830 |
| 3.38%, 03/15/29 | &nbsp;&nbsp; 9116 | 8724573 |
| 3.95%, 03/15/49<sup>(a)</sup> | &nbsp;&nbsp; 6285 | 5199484 |
| 4.20%, 08/14/29 | &nbsp;&nbsp; 10249 | 10104774 |
| 4.50%, 02/09/29<sup>(a)</sup> | &nbsp;&nbsp; 7305 | 7309609 |
| 4.60%, 08/14/34 | &nbsp;&nbsp; 13236 | 12917719 |
| 4.70%, 02/27/33<sup>(a)</sup> | &nbsp;&nbsp; 8699 | 8652724 |
| 4.70%, 02/09/34 | &nbsp;&nbsp; 11955 | 11787864 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 4.88%, 02/27/53<sup>(a)</sup> | &nbsp;&nbsp; $8941 | $8460275 |
| 4.95%, 02/27/63 | &nbsp;&nbsp; 7247 | 6857181 |
| 5.00%, 02/09/54<sup>(a)</sup> | &nbsp;&nbsp; 10613 | 10238980 |
| 5.05%, 08/14/54 | &nbsp;&nbsp; 8629 | 8370126 |
| 5.10%, 02/09/64 | &nbsp;&nbsp; 12765 | 12259546 |
| 5.20%, 08/14/64 | &nbsp;&nbsp; 9793 | 9551610 |
| GlaxoSmithKline Capital Inc. |  |  |
| 3.88%, 05/15/28 | &nbsp;&nbsp; 10687 | 10468903 |
| 6.38%, 05/15/38<sup>(a)</sup> | &nbsp;&nbsp; 20861 | 23184586 |
| GlaxoSmithKline Capital PLC, 3.38%, <br> 06/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 8688 | 8262587 |
| Johnson & Johnson |  |  |
| 1.30%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 19886 | 16750648 |
| 2.10%, 09/01/40<sup>(a)</sup> | &nbsp;&nbsp; 5248 | 3601291 |
| 2.25%, 09/01/50<sup>(a)</sup> | &nbsp;&nbsp; 7270 | 4435135 |
| 2.45%, 09/01/60<sup>(a)</sup> | &nbsp;&nbsp; 6709 | 3895877 |
| 2.90%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1257 | 1205745 |
| 3.40%, 01/15/38<sup>(a)</sup> | &nbsp;&nbsp; 12337 | 10548501 |
| 3.50%, 01/15/48<sup>(a)</sup> | &nbsp;&nbsp; 1502 | 1188118 |
| 3.55%, 03/01/36 | &nbsp;&nbsp; 5174 | 4610134 |
| 3.63%, 03/03/37 | &nbsp;&nbsp; 12592 | 11133166 |
| 3.70%, 03/01/46 | &nbsp;&nbsp; 12661 | 10402211 |
| 3.75%, 03/03/47 | &nbsp;&nbsp; 5242 | 4305560 |
| 4.38%, 12/05/33<sup>(a)</sup> | &nbsp;&nbsp; 5976 | 5933533 |
| 4.80%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8600 | 8736779 |
| 4.90%, 06/01/31 | &nbsp;&nbsp; 11637 | 11814904 |
| 4.95%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 7698 | 7854226 |
| 5.25%, 06/01/54<sup>(a)</sup> | &nbsp;&nbsp; 5583 | 5738915 |
| 5.95%, 08/15/37<sup>(a)</sup> | &nbsp;&nbsp; 10354 | 11404044 |
| Merck & Co. Inc. |  |  |
| 1.45%, 06/24/30 | &nbsp;&nbsp; 15354 | 12934159 |
| 1.90%, 12/10/28<sup>(a)</sup> | &nbsp;&nbsp; 12303 | 11139981 |
| 2.15%, 12/10/31 | &nbsp;&nbsp; 18772 | 15968246 |
| 2.35%, 06/24/40 | &nbsp;&nbsp; 8965 | 6225211 |
| 2.45%, 06/24/50 | &nbsp;&nbsp; 11036 | 6683367 |
| 2.75%, 12/10/51<sup>(a)</sup> | &nbsp;&nbsp; 16830 | 10680527 |
| 2.90%, 12/10/61 | &nbsp;&nbsp; 11269 | 6821300 |
| 3.40%, 03/07/29 | &nbsp;&nbsp; 19463 | 18614838 |
| 3.70%, 02/10/45 | &nbsp;&nbsp; 16425 | 13074087 |
| 3.90%, 03/07/39 | &nbsp;&nbsp; 4711 | 4091848 |
| 4.00%, 03/07/49 | &nbsp;&nbsp; 13026 | 10677007 |
| 4.15%, 05/18/43 | &nbsp;&nbsp; 7169 | 6209310 |
| 4.30%, 05/17/30<sup>(a)</sup> | &nbsp;&nbsp; 8428 | 8309483 |
| 4.50%, 05/17/33<sup>(a)</sup> | &nbsp;&nbsp; 13804 | 13540117 |
| 4.90%, 05/17/44<sup>(a)</sup> | &nbsp;&nbsp; 7607 | 7274089 |
| 5.00%, 05/17/53<sup>(a)</sup> | &nbsp;&nbsp; 11994 | 11390300 |
| 5.15%, 05/17/63 | &nbsp;&nbsp; 4899 | 4723556 |
| Mylan Inc. |  |  |
| 4.55%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4098 | 4020756 |
| 5.20%, 04/15/48<sup>(a)</sup> | &nbsp;&nbsp; 6155 | 5153922 |
| Novartis Capital Corp. |  |  |
| 2.20%, 08/14/30<sup>(a)</sup> | &nbsp;&nbsp; 19559 | 17219131 |
| 2.75%, 08/14/50<sup>(a)</sup> | &nbsp;&nbsp; 7123 | 4741517 |
| 3.80%, 09/18/29 | &nbsp;&nbsp; 9289 | 8992117 |
| 4.00%, 09/18/31<sup>(a)</sup> | &nbsp;&nbsp; 9178 | 8817384 |
| 4.00%, 11/20/45 | &nbsp;&nbsp; 5997 | 5092496 |
| 4.20%, 09/18/34 | &nbsp;&nbsp; 12442 | 11795195 |
| 4.40%, 05/06/44 | &nbsp;&nbsp; 13947 | 12612661 |
| 4.70%, 09/18/54 | &nbsp;&nbsp; 6375 | 5893561 |
| Pfizer Inc. |  |  |
| 1.70%, 05/28/30<sup>(a)</sup> | &nbsp;&nbsp; 8653 | 7426336 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 1.75%, 08/18/31<sup>(a)</sup> | &nbsp;&nbsp; $8416 | $6993382 |
| 2.55%, 05/28/40 | &nbsp;&nbsp; 10281 | 7339539 |
| 2.63%, 04/01/30 | &nbsp;&nbsp; 11024 | 9962772 |
| 2.70%, 05/28/50<sup>(a)</sup> | &nbsp;&nbsp; 13618 | 8849106 |
| 3.45%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10345 | 9909229 |
| 3.60%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1713 | 1664085 |
| 3.90%, 03/15/39<sup>(a)</sup> | &nbsp;&nbsp; 6889 | 5987540 |
| 4.00%, 12/15/36<sup>(a)</sup> | &nbsp;&nbsp; 7382 | 6725388 |
| 4.00%, 03/15/49<sup>(a)</sup> | &nbsp;&nbsp; 10630 | 8762594 |
| 4.13%, 12/15/46 | &nbsp;&nbsp; 11196 | 9363897 |
| 4.20%, 09/15/48<sup>(a)</sup> | &nbsp;&nbsp; 9952 | 8424480 |
| 4.30%, 06/15/43<sup>(a)</sup> | &nbsp;&nbsp; 5377 | 4728780 |
| 4.40%, 05/15/44<sup>(a)</sup> | &nbsp;&nbsp; 6923 | 6234472 |
| 7.20%, 03/15/39 | &nbsp;&nbsp; 19630 | 23371959 |
| Pfizer Investment Enterprises Pte Ltd. |  |  |
| 4.45%, 05/19/28<sup>(a)</sup> | &nbsp;&nbsp; 26778 | 26664625 |
| 4.65%, 05/19/30 | &nbsp;&nbsp; 24322 | 24277856 |
| 4.75%, 05/19/33 | &nbsp;&nbsp; 39842 | 39192006 |
| 5.11%, 05/19/43<sup>(a)</sup> | &nbsp;&nbsp; 25005 | 24214412 |
| 5.30%, 05/19/53 | &nbsp;&nbsp; 46473 | 45413643 |
| 5.34%, 05/19/63 | &nbsp;&nbsp; 30726 | 29555167 |
| Takeda Pharmaceutical Co. Ltd. |  |  |
| 2.05%, 03/31/30 | &nbsp;&nbsp; 27090 | 23532213 |
| 3.03%, 07/09/40 | &nbsp;&nbsp; 9210 | 6895209 |
| 3.18%, 07/09/50<sup>(a)</sup> | &nbsp;&nbsp; 15490 | 10577202 |
| 3.38%, 07/09/60<sup>(a)</sup> | &nbsp;&nbsp; 5517 | 3678092 |
| 5.00%, 11/26/28<sup>(a)</sup> | &nbsp;&nbsp; 19414 | 19581275 |
| 5.30%, 07/05/34 | &nbsp;&nbsp; 10959 | 11086038 |
| 5.65%, 07/05/44<sup>(a)</sup> | &nbsp;&nbsp; 6109 | 6211093 |
| Utah Acquisition Sub Inc., 5.25%, 06/15/46 | &nbsp;&nbsp; 8992 | 7600395 |
| Viatris Inc. |  |  |
| 2.70%, 06/22/30<sup>(a)</sup> | &nbsp;&nbsp; 13170 | 11415103 |
| 3.85%, 06/22/40<sup>(a)</sup> | &nbsp;&nbsp; 13674 | 10244420 |
| 4.00%, 06/22/50 | &nbsp;&nbsp; 17356 | 11981675 |
| Wyeth LLC |  |  |
| 5.95%, 04/01/37 | &nbsp;&nbsp; 16584 | 17644948 |
| 6.50%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; 3964 | 4403809 |
| Zoetis Inc. |  |  |
| 2.00%, 05/15/30 | &nbsp;&nbsp; 11409 | 9845277 |
| 4.70%, 02/01/43 | &nbsp;&nbsp; 4992 | 4535536 |
| 5.60%, 11/16/32<sup>(a)</sup> | &nbsp;&nbsp; 5402 | 5611540 |
|  |  | 2130467333 |
| **Pipelines — 4.0%** | **Pipelines — 4.0%** | **Pipelines — 4.0%** |
| Cheniere Corpus Christi Holdings LLC, 3.70%, <br> 11/15/29<br>| &nbsp;&nbsp; 7464 | 7022517 |
| Cheniere Energy Inc. |  |  |
| 4.63%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8806 | 8626446 |
| 5.65%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp; 13365 | 13440975 |
| Cheniere Energy Partners LP |  |  |
| 3.25%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp; 9968 | 8674798 |
| 4.00%, 03/01/31 | &nbsp;&nbsp; 9321 | 8627526 |
| 4.50%, 10/01/29 | &nbsp;&nbsp; 10231 | 9863714 |
| 5.75%, 08/15/34<sup>(b)</sup> | &nbsp;&nbsp; 11156 | 11282354 |
| 5.95%, 06/30/33<sup>(a)</sup> | &nbsp;&nbsp; 10939 | 11242928 |
| Eastern Energy Gas Holdings LLC, 5.65%, <br> 10/15/54<br>| &nbsp;&nbsp; 2891 | 2826812 |
| Enbridge Inc. |  |  |
| 2.50%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp; 6509 | 5304333 |
| 3.13%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 8477 | 7820396 |
| 3.40%, 08/01/51 | &nbsp;&nbsp; 5702 | 3918232 |
| 5.30%, 04/05/29<sup>(a)</sup> | &nbsp;&nbsp; 6873 | 6974196 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 5.50%, 12/01/46 | &nbsp;&nbsp; $5792 | $5593937 |
| 5.63%, 04/05/34 | &nbsp;&nbsp; 10145 | 10313893 |
| 5.70%, 03/08/33<sup>(a)</sup> | &nbsp;&nbsp; 20118 | 20616691 |
| 5.95%, 04/05/54<sup>(a)</sup> | &nbsp;&nbsp; 5696 | 5834433 |
| 6.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7012 | 7312443 |
| 6.20%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5798 | 6142176 |
| 6.70%, 11/15/53<sup>(a)</sup> | &nbsp;&nbsp; 9219 | 10296806 |
| Energy Transfer LP |  |  |
| 3.75%, 05/15/30 | &nbsp;&nbsp; 9671 | 9011308 |
| 4.95%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5915 | 5925219 |
| 4.95%, 06/15/28 | &nbsp;&nbsp; 5215 | 5224144 |
| 5.00%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp; 16426 | 14221591 |
| 5.15%, 03/15/45 | &nbsp;&nbsp; 10240 | 9155320 |
| 5.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11157 | 11252871 |
| 5.25%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5312 | 5363625 |
| 5.30%, 04/15/47 | &nbsp;&nbsp; 6676 | 6003061 |
| 5.35%, 05/15/45 | &nbsp;&nbsp; 7696 | 7048554 |
| 5.40%, 10/01/47 | &nbsp;&nbsp; 13244 | 12091689 |
| 5.55%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2824 | 2884355 |
| 5.55%, 05/15/34 | &nbsp;&nbsp; 9158 | 9203390 |
| 5.60%, 09/01/34<sup>(a)</sup> | &nbsp;&nbsp; 10885 | 10950477 |
| 5.75%, 02/15/33 | &nbsp;&nbsp; 9292 | 9477268 |
| 5.95%, 05/15/54<sup>(a)</sup> | &nbsp;&nbsp; 14356 | 14156819 |
| 6.00%, 06/15/48 | &nbsp;&nbsp; 9164 | 9047745 |
| 6.05%, 09/01/54 | &nbsp;&nbsp; 10315 | 10299560 |
| 6.13%, 12/15/45 | &nbsp;&nbsp; 9289 | 9300824 |
| 6.25%, 04/15/49<sup>(a)</sup> | &nbsp;&nbsp; 15350 | 15574079 |
| 6.40%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8239 | 8738439 |
| 6.50%, 02/01/42 | &nbsp;&nbsp; 8404 | 8832683 |
| 6.55%, 12/01/33 | &nbsp;&nbsp; 12122 | 13004559 |
| Enterprise Products Operating LLC |  |  |
| 2.80%, 01/31/30 | &nbsp;&nbsp; 9769 | 8862280 |
| 3.13%, 07/31/29 | &nbsp;&nbsp; 5692 | 5309858 |
| 3.20%, 02/15/52 | &nbsp;&nbsp; 7558 | 5113213 |
| 3.30%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 8713 | 5959999 |
| 3.70%, 01/31/51 | &nbsp;&nbsp; 8724 | 6515942 |
| 3.95%, 01/31/60<sup>(a)</sup> | &nbsp;&nbsp; 6996 | 5245825 |
| 4.15%, 10/16/28 | &nbsp;&nbsp; 6184 | 6059778 |
| 4.20%, 01/31/50 | &nbsp;&nbsp; 10248 | 8364301 |
| 4.25%, 02/15/48<sup>(a)</sup> | &nbsp;&nbsp; 12987 | 10792422 |
| 4.45%, 02/15/43 | &nbsp;&nbsp; 10465 | 9152983 |
| 4.80%, 02/01/49<sup>(a)</sup> | &nbsp;&nbsp; 10193 | 9141217 |
| 4.85%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp; 6430 | 6306379 |
| 4.85%, 08/15/42 | &nbsp;&nbsp; 7028 | 6492941 |
| 4.85%, 03/15/44<sup>(a)</sup> | &nbsp;&nbsp; 12560 | 11510825 |
| 4.90%, 05/15/46 | &nbsp;&nbsp; 8750 | 8016882 |
| 4.95%, 02/15/35<sup>(a)</sup> | &nbsp;&nbsp; 10181 | 10046620 |
| 5.10%, 02/15/45<sup>(a)</sup> | &nbsp;&nbsp; 9844 | 9282898 |
| 5.35%, 01/31/33<sup>(a)</sup> | &nbsp;&nbsp; 6208 | 6340074 |
| 5.55%, 02/16/55 | &nbsp;&nbsp; 11546 | 11428883 |
| 5.95%, 02/01/41 | &nbsp;&nbsp; 6253 | 6533442 |
| Kinder Morgan Energy Partners LP |  |  |
| 5.50%, 03/01/44 | &nbsp;&nbsp; 6682 | 6307879 |
| 6.95%, 01/15/38<sup>(a)</sup> | &nbsp;&nbsp; 8776 | 9622809 |
| Kinder Morgan Inc. |  |  |
| 2.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 4446 | 3740896 |
| 3.60%, 02/15/51<sup>(a)</sup> | &nbsp;&nbsp; 8556 | 5943598 |
| 4.30%, 03/01/28 | &nbsp;&nbsp; 4524 | 4455776 |
| 4.80%, 02/01/33 | &nbsp;&nbsp; 7917 | 7607059 |
| 5.00%, 02/01/29 | &nbsp;&nbsp; 8588 | 8588970 |
| 5.05%, 02/15/46 | &nbsp;&nbsp; 8399 | 7461707 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 5.20%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp; $11033 | $10846086 |
| 5.20%, 03/01/48 | &nbsp;&nbsp; 7924 | 7140013 |
| 5.30%, 12/01/34 | &nbsp;&nbsp; 8411 | 8291634 |
| 5.40%, 02/01/34 | &nbsp;&nbsp; 8619 | 8582658 |
| 5.45%, 08/01/52<sup>(a)</sup> | &nbsp;&nbsp; 5828 | 5450321 |
| 5.55%, 06/01/45 | &nbsp;&nbsp; 15862 | 15034928 |
| 5.95%, 08/01/54<sup>(a)</sup> | &nbsp;&nbsp; 5868 | 5863591 |
| 7.75%, 01/15/32 | &nbsp;&nbsp; 4999 | 5719218 |
| MPLX LP |  |  |
| 2.65%, 08/15/30 | &nbsp;&nbsp; 13534 | 11903482 |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 5705 | 5552343 |
| 4.50%, 04/15/38<sup>(a)</sup> | &nbsp;&nbsp; 13965 | 12361878 |
| 4.70%, 04/15/48 | &nbsp;&nbsp; 15217 | 12760742 |
| 4.80%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3707 | 3685950 |
| 4.95%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp; 7354 | 7177456 |
| 4.95%, 03/14/52 | &nbsp;&nbsp; 12769 | 11005084 |
| 5.00%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp; 7755 | 7538417 |
| 5.20%, 03/01/47<sup>(a)</sup> | &nbsp;&nbsp; 5840 | 5271253 |
| 5.50%, 06/01/34 | &nbsp;&nbsp; 12717 | 12702574 |
| 5.50%, 02/15/49 | &nbsp;&nbsp; 10017 | 9370050 |
| ONEOK Inc. |  |  |
| 3.10%, 03/15/30 | &nbsp;&nbsp; 5114 | 4650018 |
| 3.95%, 03/01/50 | &nbsp;&nbsp; 5430 | 3998192 |
| 4.55%, 07/15/28 | &nbsp;&nbsp; 1607 | 1588266 |
| 4.75%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 7363 | 7185064 |
| 5.05%, 11/01/34 | &nbsp;&nbsp; 7999 | 7781770 |
| 5.20%, 07/15/48<sup>(a)</sup> | &nbsp;&nbsp; 6488 | 5825321 |
| 5.65%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2508 | 2574289 |
| 5.70%, 11/01/54<sup>(a)</sup> | &nbsp;&nbsp; 11866 | 11526567 |
| 5.85%, 11/01/64 | &nbsp;&nbsp; 6290 | 6084881 |
| 6.05%, 09/01/33 | &nbsp;&nbsp; 8479 | 8831816 |
| 6.10%, 11/15/32 | &nbsp;&nbsp; 6090 | 6402725 |
| 6.63%, 09/01/53<sup>(a)</sup> | &nbsp;&nbsp; 14210 | 15300957 |
| Plains All American Pipeline LP/PAA <br> Finance Corp.<br>|  |  |
| 3.55%, 12/15/29 | &nbsp;&nbsp; 3741 | 3480809 |
| 3.80%, 09/15/30 | &nbsp;&nbsp; 6908 | 6440230 |
| Sabine Pass Liquefaction LLC |  |  |
| 4.20%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4494 | 4405036 |
| 4.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 15807 | 15375910 |
| South Bow USA Infrastructure Holdings LLC |  |  |
| 5.03%, 10/01/29<sup>(b)</sup> | &nbsp;&nbsp; 16265 | 15994450 |
| 5.58%, 10/01/34<sup>(b)</sup> | &nbsp;&nbsp; 14626 | 14441674 |
| Targa Resources Corp. |  |  |
| 4.20%, 02/01/33 | &nbsp;&nbsp; 4779 | 4390662 |
| 4.95%, 04/15/52 | &nbsp;&nbsp; 3399 | 2947608 |
| 5.50%, 02/15/35 | &nbsp;&nbsp; 11394 | 11356064 |
| 6.13%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 8469 | 8840942 |
| 6.15%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8615 | 8993967 |
| 6.50%, 03/30/34 | &nbsp;&nbsp; 10202 | 10934477 |
| 6.50%, 02/15/53<sup>(a)</sup> | &nbsp;&nbsp; 4573 | 4903779 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp.<br>|  |  |
| 4.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9269 | 8494744 |
| 4.88%, 02/01/31 | &nbsp;&nbsp; 6812 | 6616062 |
| 5.50%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 8036 | 8068544 |
| TransCanada PipeLines Ltd. |  |  |
| 4.10%, 04/15/30 | &nbsp;&nbsp; 8834 | 8444133 |
| 4.25%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 10572 | 10367644 |
| 4.63%, 03/01/34 | &nbsp;&nbsp; 8148 | 7700939 |
| 5.10%, 03/15/49<sup>(a)</sup> | &nbsp;&nbsp; 4184 | 3964119 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| 6.10%, 06/01/40<sup>(a)</sup> | &nbsp;&nbsp; $4884 | $5058291 |
| 6.20%, 10/15/37 | &nbsp;&nbsp; 8654 | 9063389 |
| 7.63%, 01/15/39 | &nbsp;&nbsp; 10465 | 12327473 |
| Western Midstream Operating LP |  |  |
| 4.05%, 02/01/30 | &nbsp;&nbsp; 8834 | 8302222 |
| 5.25%, 02/01/50 | &nbsp;&nbsp; 7274 | 6339263 |
| 5.45%, 11/15/34 | &nbsp;&nbsp; 10709 | 10444035 |
| 6.15%, 04/01/33 | &nbsp;&nbsp; 10149 | 10504744 |
| Williams Companies Inc. (The) |  |  |
| 2.60%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 12579 | 10893161 |
| 3.50%, 11/15/30 | &nbsp;&nbsp; 7117 | 6560464 |
| 4.65%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp; 6450 | 6227512 |
| 4.85%, 03/01/48 | &nbsp;&nbsp; 3418 | 3007992 |
| 4.90%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 11361 | 11333994 |
| 5.10%, 09/15/45 | &nbsp;&nbsp; 5999 | 5502876 |
| 5.15%, 03/15/34 | &nbsp;&nbsp; 9751 | 9602166 |
| 5.30%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5589 | 5676453 |
| 5.30%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp; 5611 | 5266628 |
| 5.65%, 03/15/33 | &nbsp;&nbsp; 6221 | 6363166 |
| 5.80%, 11/15/54<sup>(a)</sup> | &nbsp;&nbsp; 8717 | 8755679 |
| 6.30%, 04/15/40 | &nbsp;&nbsp; 8219 | 8689639 |
|  |  | 1152797126 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| CBRE Services Inc., 5.95%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 6996 | 7302831 |
| **Real Estate Investment Trusts — 1.9%** | **Real Estate Investment Trusts — 1.9%** | **Real Estate Investment Trusts — 1.9%** |
| Alexandria Real Estate Equities Inc. |  |  |
| 1.88%, 02/01/33 | &nbsp;&nbsp; 3884 | 3016483 |
| 2.00%, 05/18/32 | &nbsp;&nbsp; 8756 | 7047976 |
| 2.95%, 03/15/34 | &nbsp;&nbsp; 10212 | 8549621 |
| 3.00%, 05/18/51<sup>(a)</sup> | &nbsp;&nbsp; 8818 | 5627303 |
| 3.38%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 7368 | 6674085 |
| 3.55%, 03/15/52<sup>(a)</sup> | &nbsp;&nbsp; 10292 | 7256478 |
| American Tower Corp. |  |  |
| 1.88%, 10/15/30 | &nbsp;&nbsp; 13227 | 11102065 |
| 2.10%, 06/15/30 | &nbsp;&nbsp; 11483 | 9854407 |
| 2.90%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 11762 | 10643889 |
| 2.95%, 01/15/51<sup>(a)</sup> | &nbsp;&nbsp; 2776 | 1782317 |
| 3.10%, 06/15/50<sup>(a)</sup> | &nbsp;&nbsp; 2521 | 1676146 |
| 3.80%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 17639 | 16766018 |
| 5.55%, 07/15/33 | &nbsp;&nbsp; 6880 | 7003796 |
| 5.65%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp; 6764 | 6929466 |
| 5.80%, 11/15/28 | &nbsp;&nbsp; 5000 | 5159789 |
| 5.90%, 11/15/33 | &nbsp;&nbsp; 6242 | 6508379 |
| Boston Properties LP |  |  |
| 2.45%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp; 5806 | 4512754 |
| 2.55%, 04/01/32 | &nbsp;&nbsp; 10452 | 8531490 |
| 3.25%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp; 11554 | 10160622 |
| 3.40%, 06/21/29<sup>(a)</sup> | &nbsp;&nbsp; 12701 | 11669434 |
| 4.50%, 12/01/28 | &nbsp;&nbsp; 9968 | 9680772 |
| 5.75%, 01/15/35<sup>(a)</sup> | &nbsp;&nbsp; 8111 | 8027565 |
| 6.50%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; 5758 | 6084107 |
| Brixmor Operating Partnership LP |  |  |
| 4.05%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 9835 | 9315289 |
| 4.13%, 05/15/29 | &nbsp;&nbsp; 5820 | 5592604 |
| Crown Castle Inc. |  |  |
| 2.10%, 04/01/31 | &nbsp;&nbsp; 10014 | 8332082 |
| 2.25%, 01/15/31 | &nbsp;&nbsp; 15348 | 12976257 |
| 2.50%, 07/15/31 | &nbsp;&nbsp; 9253 | 7837377 |
| 2.90%, 04/01/41 | &nbsp;&nbsp; 3170 | 2259787 |
| 3.25%, 01/15/51<sup>(a)</sup> | &nbsp;&nbsp; 6034 | 4105663 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 3.30%, 07/01/30 | &nbsp;&nbsp; $9172 | $8347185 |
| 3.80%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8087 | 7806334 |
| 5.10%, 05/01/33 | &nbsp;&nbsp; 3315 | 3261106 |
| 5.60%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 11169 | 11447023 |
| 5.80%, 03/01/34 | &nbsp;&nbsp; 5937 | 6104263 |
| Digital Realty Trust LP, 3.60%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 6061 | 5747342 |
| Equinix Europe 2 Financing Corp. LLC, 5.50%, <br> 06/15/34<br>| &nbsp;&nbsp; 8370 | 8504623 |
| Equinix Inc. |  |  |
| 2.15%, 07/15/30 | &nbsp;&nbsp; 8344 | 7199081 |
| 2.50%, 05/15/31 | &nbsp;&nbsp; 9664 | 8334450 |
| 3.20%, 11/18/29 | &nbsp;&nbsp; 7979 | 7362045 |
| 3.90%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp; 11735 | 10936490 |
| ERP Operating LP, 4.50%, 07/01/44 | &nbsp;&nbsp; 6816 | 5984873 |
| GLP Capital LP/GLP Financing II Inc. |  |  |
| 3.25%, 01/15/32 | &nbsp;&nbsp; 6363 | 5485979 |
| 5.30%, 01/15/29 | &nbsp;&nbsp; 2410 | 2405890 |
| 5.63%, 09/15/34 | &nbsp;&nbsp; 5810 | 5734285 |
| Healthcare Realty Holdings LP, 2.00%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 7398 | 6039050 |
| Healthpeak OP LLC |  |  |
| 3.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10270 | 9373859 |
| 5.25%, 12/15/32<sup>(a)</sup> | &nbsp;&nbsp; 2505 | 2523686 |
| Host Hotels & Resorts LP, Series I, 3.50%, <br> 09/15/30<br>| &nbsp;&nbsp; 9512 | 8607344 |
| Prologis LP |  |  |
| 1.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8589 | 7060770 |
| 2.25%, 04/15/30 | &nbsp;&nbsp; 11404 | 10032867 |
| 4.75%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp; 3572 | 3505808 |
| 4.88%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4700 | 4738647 |
| 5.00%, 03/15/34 | &nbsp;&nbsp; 7892 | 7824295 |
| 5.13%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; 7546 | 7554292 |
| 5.25%, 06/15/53<sup>(a)</sup> | &nbsp;&nbsp; 11947 | 11546341 |
| 5.25%, 03/15/54 | &nbsp;&nbsp; 9185 | 8853405 |
| Public Storage Operating Co., 5.35%, 08/01/53 | &nbsp;&nbsp; 9886 | 9729789 |
| Realty Income Corp. |  |  |
| 3.25%, 01/15/31 | &nbsp;&nbsp; 10049 | 9162819 |
| 5.13%, 02/15/34 | &nbsp;&nbsp; 6902 | 6844683 |
| 5.63%, 10/13/32<sup>(a)</sup> | &nbsp;&nbsp; 2273 | 2352577 |
| Simon Property Group LP |  |  |
| 1.75%, 02/01/28 | &nbsp;&nbsp; 1832 | 1678242 |
| 2.45%, 09/13/29<sup>(a)</sup> | &nbsp;&nbsp; 10823 | 9752943 |
| 2.65%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9654 | 8604576 |
| 3.25%, 09/13/49<sup>(a)</sup> | &nbsp;&nbsp; 14808 | 10321306 |
| 3.80%, 07/15/50<sup>(a)</sup> | &nbsp;&nbsp; 7519 | 5738910 |
| 4.75%, 09/26/34 | &nbsp;&nbsp; 7178 | 6888719 |
| Ventas Realty LP, 4.40%, 01/15/29 | &nbsp;&nbsp; 5305 | 5187629 |
| VICI Properties LP |  |  |
| 4.75%, 02/15/28 | &nbsp;&nbsp; 2026 | 2007695 |
| 4.95%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10646 | 10470451 |
| 5.13%, 05/15/32 | &nbsp;&nbsp; 12448 | 12182733 |
| 5.63%, 05/15/52<sup>(a)</sup> | &nbsp;&nbsp; 3191 | 3002903 |
| Welltower OP LLC |  |  |
| 2.80%, 06/01/31 | &nbsp;&nbsp; 5634 | 4968621 |
| 3.10%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10572 | 9702988 |
| 4.25%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4467 | 4393937 |
| Weyerhaeuser Co. |  |  |
| 4.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6828 | 6546846 |
| 4.00%, 04/15/30 | &nbsp;&nbsp; 10148 | 9717548 |
|  |  | 556261269 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail — 2.8%** | **Retail — 2.8%** | **Retail — 2.8%** |
| AutoZone Inc. |  |  |
| 4.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; $12742 | $12200489 |
| 4.75%, 08/01/32 | &nbsp;&nbsp; 4086 | 3982721 |
| Costco Wholesale Corp. |  |  |
| 1.60%, 04/20/30 | &nbsp;&nbsp; 16072 | 13757659 |
| 1.75%, 04/20/32<sup>(a)</sup> | &nbsp;&nbsp; 5601 | 4586777 |
| Dollar General Corp. |  |  |
| 3.50%, 04/03/30 | &nbsp;&nbsp; 9321 | 8578113 |
| 5.45%, 07/05/33<sup>(a)</sup> | &nbsp;&nbsp; 6375 | 6308906 |
| Dollar Tree Inc. |  |  |
| 2.65%, 12/01/31 | &nbsp;&nbsp; 6184 | 5157969 |
| 4.20%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7866 | 7632217 |
| Home Depot Inc. (The) |  |  |
| 1.38%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 12260 | 10024008 |
| 1.50%, 09/15/28 | &nbsp;&nbsp; 6242 | 5583136 |
| 1.88%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 9932 | 8296805 |
| 2.38%, 03/15/51 | &nbsp;&nbsp; 11582 | 6801185 |
| 2.70%, 04/15/30 | &nbsp;&nbsp; 14003 | 12689421 |
| 2.75%, 09/15/51<sup>(a)</sup> | &nbsp;&nbsp; 9555 | 6095287 |
| 2.95%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9957 | 9290686 |
| 3.13%, 12/15/49 | &nbsp;&nbsp; 11760 | 8176831 |
| 3.25%, 04/15/32 | &nbsp;&nbsp; 9081 | 8205120 |
| 3.30%, 04/15/40 | &nbsp;&nbsp; 12508 | 9950432 |
| 3.35%, 04/15/50 | &nbsp;&nbsp; 13492 | 9781287 |
| 3.50%, 09/15/56 | &nbsp;&nbsp; 1870 | 1356177 |
| 3.63%, 04/15/52<sup>(a)</sup> | &nbsp;&nbsp; 11748 | 8888070 |
| 3.90%, 12/06/28<sup>(a)</sup> | &nbsp;&nbsp; 4685 | 4585280 |
| 3.90%, 06/15/47 | &nbsp;&nbsp; 10710 | 8664159 |
| 4.20%, 04/01/43 | &nbsp;&nbsp; 9174 | 7919584 |
| 4.25%, 04/01/46 | &nbsp;&nbsp; 13598 | 11678398 |
| 4.40%, 03/15/45 | &nbsp;&nbsp; 9426 | 8329806 |
| 4.50%, 09/15/32 | &nbsp;&nbsp; 10376 | 10224019 |
| 4.50%, 12/06/48 | &nbsp;&nbsp; 11863 | 10497615 |
| 4.75%, 06/25/29<sup>(a)</sup> | &nbsp;&nbsp; 7044 | 7095045 |
| 4.85%, 06/25/31<sup>(a)</sup> | &nbsp;&nbsp; 11033 | 11087827 |
| 4.88%, 02/15/44 | &nbsp;&nbsp; 9125 | 8569021 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 4241 | 4299390 |
| 4.95%, 06/25/34<sup>(a)</sup> | &nbsp;&nbsp; 14028 | 14028665 |
| 4.95%, 09/15/52<sup>(a)</sup> | &nbsp;&nbsp; 9915 | 9335631 |
| 5.30%, 06/25/54 | &nbsp;&nbsp; 11664 | 11601328 |
| 5.88%, 12/16/36 | &nbsp;&nbsp; 20576 | 22038087 |
| 5.95%, 04/01/41<sup>(a)</sup> | &nbsp;&nbsp; 9190 | 9859581 |
| Lowe's Companies Inc. |  |  |
| 1.30%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7414 | 6620257 |
| 1.70%, 09/15/28 | &nbsp;&nbsp; 9549 | 8553984 |
| 1.70%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 10738 | 8999156 |
| 2.63%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; 12546 | 10980608 |
| 2.80%, 09/15/41<sup>(a)</sup> | &nbsp;&nbsp; 11720 | 8226614 |
| 3.00%, 10/15/50<sup>(a)</sup> | &nbsp;&nbsp; 15312 | 9902385 |
| 3.65%, 04/05/29 | &nbsp;&nbsp; 12709 | 12137169 |
| 3.70%, 04/15/46 | &nbsp;&nbsp; 16273 | 12346026 |
| 3.75%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp; 12791 | 11840656 |
| 4.05%, 05/03/47 | &nbsp;&nbsp; 12575 | 9999466 |
| 4.25%, 04/01/52<sup>(a)</sup> | &nbsp;&nbsp; 15223 | 12268689 |
| 4.45%, 04/01/62 | &nbsp;&nbsp; 7557 | 6038508 |
| 4.50%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 11177 | 11019759 |
| 5.00%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 10627 | 10602199 |
| 5.15%, 07/01/33<sup>(a)</sup> | &nbsp;&nbsp; 4479 | 4531203 |
| 5.63%, 04/15/53<sup>(a)</sup> | &nbsp;&nbsp; 13163 | 13009618 |
| 5.80%, 09/15/62 | &nbsp;&nbsp; 6892 | 6888219 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| McDonald's Corp. |  |  |
| 2.13%, 03/01/30 | &nbsp;&nbsp; $9600 | $8405993 |
| 2.63%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2120 | 1935421 |
| 3.60%, 07/01/30 | &nbsp;&nbsp; 7726 | 7285905 |
| 3.63%, 09/01/49 | &nbsp;&nbsp; 15787 | 11756555 |
| 3.80%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1575 | 1534318 |
| 4.20%, 04/01/50 | &nbsp;&nbsp; 10231 | 8372730 |
| 4.45%, 03/01/47 | &nbsp;&nbsp; 7026 | 6059671 |
| 4.45%, 09/01/48<sup>(a)</sup> | &nbsp;&nbsp; 10311 | 8843107 |
| 4.60%, 09/09/32 | &nbsp;&nbsp; 5129 | 5039057 |
| 4.70%, 12/09/35<sup>(a)</sup> | &nbsp;&nbsp; 5885 | 5700180 |
| 4.88%, 12/09/45 | &nbsp;&nbsp; 12346 | 11345385 |
| 5.15%, 09/09/52 | &nbsp;&nbsp; 7825 | 7399801 |
| 5.45%, 08/14/53 | &nbsp;&nbsp; 6813 | 6737149 |
| 6.30%, 10/15/37 | &nbsp;&nbsp; 7559 | 8236940 |
| 6.30%, 03/01/38 | &nbsp;&nbsp; 5096 | 5571311 |
| O'Reilly Automotive Inc., 4.70%, 06/15/32 | &nbsp;&nbsp; 6816 | 6662187 |
| Starbucks Corp. |  |  |
| 2.25%, 03/12/30 | &nbsp;&nbsp; 12600 | 11093010 |
| 2.55%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 16335 | 14382214 |
| 3.00%, 02/14/32 | &nbsp;&nbsp; 6236 | 5511581 |
| 3.50%, 11/15/50<sup>(a)</sup> | &nbsp;&nbsp; 11459 | 8260984 |
| 3.55%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 10166 | 9681384 |
| 4.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5607 | 5481062 |
| 4.45%, 08/15/49<sup>(a)</sup> | &nbsp;&nbsp; 5692 | 4822669 |
| 4.50%, 11/15/48<sup>(a)</sup> | &nbsp;&nbsp; 6880 | 5890049 |
| Target Corp. |  |  |
| 2.35%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 9701 | 8675042 |
| 2.95%, 01/15/52<sup>(a)</sup> | &nbsp;&nbsp; 8372 | 5593348 |
| 3.38%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6638 | 6340279 |
| 4.00%, 07/01/42 | &nbsp;&nbsp; 6579 | 5649391 |
| 4.50%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp; 9870 | 9682371 |
| 4.50%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp; 7084 | 6854887 |
| 4.80%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp; 8397 | 7829773 |
| Walmart Inc. |  |  |
| 2.50%, 09/22/41<sup>(a)</sup> | &nbsp;&nbsp; 10805 | 7673512 |
| 2.65%, 09/22/51<sup>(a)</sup> | &nbsp;&nbsp; 11637 | 7461333 |
| 3.70%, 06/26/28<sup>(a)</sup> | &nbsp;&nbsp; 5410 | 5302200 |
| 3.90%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2238 | 2206632 |
| 4.05%, 06/29/48 | &nbsp;&nbsp; 14152 | 12136045 |
| 4.10%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp; 11761 | 11349399 |
| 4.15%, 09/09/32<sup>(a)</sup> | &nbsp;&nbsp; 8942 | 8747349 |
| 4.50%, 09/09/52 | &nbsp;&nbsp; 8168 | 7428347 |
| 4.50%, 04/15/53<sup>(a)</sup> | &nbsp;&nbsp; 12266 | 11171737 |
| 5.25%, 09/01/35<sup>(a)</sup> | &nbsp;&nbsp; 12041 | 12543142 |
| 6.20%, 04/15/38<sup>(a)</sup> | &nbsp;&nbsp; 5174 | 5815763 |
| 6.50%, 08/15/37 | &nbsp;&nbsp; 5772 | 6672935 |
|  |  | 816263396 |
| **Semiconductors — 3.1%** | **Semiconductors — 3.1%** | **Semiconductors — 3.1%** |
| Analog Devices Inc. |  |  |
| 1.70%, 10/01/28 | &nbsp;&nbsp; 6751 | 6070467 |
| 2.10%, 10/01/31 | &nbsp;&nbsp; 9834 | 8331289 |
| 2.80%, 10/01/41<sup>(a)</sup> | &nbsp;&nbsp; 4423 | 3192042 |
| 2.95%, 10/01/51<sup>(a)</sup> | &nbsp;&nbsp; 7203 | 4795757 |
| Applied Materials Inc. |  |  |
| 1.75%, 06/01/30 | &nbsp;&nbsp; 8117 | 6965013 |
| 2.75%, 06/01/50 | &nbsp;&nbsp; 5844 | 3821953 |
| 4.35%, 04/01/47 | &nbsp;&nbsp; 4977 | 4342321 |
| Broadcom Corp./Broadcom Cayman Finance <br> Ltd., 3.50%, 01/15/28<br>| &nbsp;&nbsp; 1673 | 1611241 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| Broadcom Inc. |  |  |
| 1.95%, 02/15/28<sup>(b)</sup> | &nbsp;&nbsp; $2636 | $2415552 |
| 2.45%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 22560 | 19479184 |
| 2.60%, 02/15/33<sup>(b)</sup> | &nbsp;&nbsp; 14222 | 11808064 |
| 3.14%, 11/15/35<sup>(b)</sup> | &nbsp;&nbsp; 25746 | 21163052 |
| 3.19%, 11/15/36<sup>(b)</sup> | &nbsp;&nbsp; 19422 | 15785477 |
| 3.42%, 04/15/33<sup>(b)</sup> | &nbsp;&nbsp; 20978 | 18479973 |
| 3.47%, 04/15/34<sup>(b)</sup> | &nbsp;&nbsp; 27631 | 24104312 |
| 3.50%, 02/15/41<sup>(b)</sup> | &nbsp;&nbsp; 20470 | 16112713 |
| 3.75%, 02/15/51<sup>(a)(b)</sup> | &nbsp;&nbsp; 13627 | 10301742 |
| 4.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 9680 | 9346350 |
| 4.11%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 13074 | 12762932 |
| 4.15%, 11/15/30 | &nbsp;&nbsp; 13853 | 13286628 |
| 4.15%, 04/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp; 5494 | 5182041 |
| 4.30%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp; 13427 | 12776913 |
| 4.35%, 02/15/30 | &nbsp;&nbsp; 10341 | 10061324 |
| 4.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 15796 | 15746574 |
| 4.80%, 10/15/34 | &nbsp;&nbsp; 15138 | 14627539 |
| 4.93%, 05/15/37<sup>(b)</sup> | &nbsp;&nbsp; 18718 | 17940862 |
| 5.05%, 07/12/29 | &nbsp;&nbsp; 19291 | 19435609 |
| 5.15%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13164 | 13272922 |
| Series ., 4.55%, 02/15/32 | &nbsp;&nbsp; 9547 | 9230993 |
| Intel Corp. |  |  |
| 1.60%, 08/12/28 | &nbsp;&nbsp; 6255 | 5514325 |
| 2.00%, 08/12/31 | &nbsp;&nbsp; 8479 | 6889938 |
| 2.45%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 15027 | 13220613 |
| 2.80%, 08/12/41<sup>(a)</sup> | &nbsp;&nbsp; 6160 | 4063793 |
| 3.05%, 08/12/51 | &nbsp;&nbsp; 10602 | 6428244 |
| 3.10%, 02/15/60 | &nbsp;&nbsp; 7653 | 4380420 |
| 3.20%, 08/12/61 | &nbsp;&nbsp; 5030 | 2911886 |
| 3.25%, 11/15/49 | &nbsp;&nbsp; 14720 | 9386142 |
| 3.73%, 12/08/47 | &nbsp;&nbsp; 14651 | 10184952 |
| 3.90%, 03/25/30 | &nbsp;&nbsp; 12698 | 11910460 |
| 4.00%, 08/05/29 | &nbsp;&nbsp; 6584 | 6284624 |
| 4.00%, 12/15/32<sup>(a)</sup> | &nbsp;&nbsp; 5930 | 5398363 |
| 4.10%, 05/19/46<sup>(a)</sup> | &nbsp;&nbsp; 9710 | 7256394 |
| 4.10%, 05/11/47<sup>(a)</sup> | &nbsp;&nbsp; 7526 | 5602299 |
| 4.15%, 08/05/32 | &nbsp;&nbsp; 8974 | 8299506 |
| 4.60%, 03/25/40 | &nbsp;&nbsp; 5949 | 5090477 |
| 4.75%, 03/25/50<sup>(a)</sup> | &nbsp;&nbsp; 17057 | 13952942 |
| 4.80%, 10/01/41 | &nbsp;&nbsp; 6430 | 5563610 |
| 4.88%, 02/10/28 | &nbsp;&nbsp; 9957 | 9910256 |
| 4.90%, 07/29/45<sup>(a)</sup> | &nbsp;&nbsp; 6933 | 5852095 |
| 4.90%, 08/05/52<sup>(a)</sup> | &nbsp;&nbsp; 13635 | 11280570 |
| 4.95%, 03/25/60<sup>(a)</sup> | &nbsp;&nbsp; 7291 | 5996438 |
| 5.05%, 08/05/62<sup>(a)</sup> | &nbsp;&nbsp; 7091 | 5907020 |
| 5.13%, 02/10/30 | &nbsp;&nbsp; 8030 | 8008651 |
| 5.15%, 02/21/34<sup>(a)</sup> | &nbsp;&nbsp; 6497 | 6341917 |
| 5.20%, 02/10/33<sup>(a)</sup> | &nbsp;&nbsp; 17930 | 17637637 |
| 5.60%, 02/21/54<sup>(a)</sup> | &nbsp;&nbsp; 8908 | 8255322 |
| 5.63%, 02/10/43<sup>(a)</sup> | &nbsp;&nbsp; 8429 | 8038384 |
| 5.70%, 02/10/53<sup>(a)</sup> | &nbsp;&nbsp; 15013 | 14052422 |
| 5.90%, 02/10/63<sup>(a)</sup> | &nbsp;&nbsp; 8099 | 7698049 |
| KLA Corp. |  |  |
| 3.30%, 03/01/50 | &nbsp;&nbsp; 6338 | 4521338 |
| 4.10%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5240 | 5139766 |
| 4.65%, 07/15/32 | &nbsp;&nbsp; 9530 | 9448090 |
| 4.95%, 07/15/52<sup>(a)</sup> | &nbsp;&nbsp; 10933 | 10258178 |
| 5.25%, 07/15/62<sup>(a)</sup> | &nbsp;&nbsp; 4474 | 4336805 |
| Lam Research Corp. |  |  |
| 1.90%, 06/15/30 | &nbsp;&nbsp; 8754 | 7534726 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| 2.88%, 06/15/50<sup>(a)</sup> | &nbsp;&nbsp; $4326 | $2858768 |
| 4.00%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 9339 | 9140136 |
| 4.88%, 03/15/49 | &nbsp;&nbsp; 5939 | 5564714 |
| Marvell Technology Inc. |  |  |
| 2.45%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2955 | 2723207 |
| 2.95%, 04/15/31 | &nbsp;&nbsp; 6852 | 6056612 |
| Micron Technology Inc. |  |  |
| 2.70%, 04/15/32 | &nbsp;&nbsp; 10185 | 8613453 |
| 4.66%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 8453 | 8291811 |
| 5.30%, 01/15/31 | &nbsp;&nbsp; 8575 | 8632052 |
| 5.88%, 02/09/33 | &nbsp;&nbsp; 5595 | 5800836 |
| 5.88%, 09/15/33 | &nbsp;&nbsp; 6572 | 6802749 |
| 6.75%, 11/01/29 | &nbsp;&nbsp; 8705 | 9337630 |
| NVIDIA Corp. |  |  |
| 1.55%, 06/15/28 | &nbsp;&nbsp; 9566 | 8690236 |
| 2.00%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 11100 | 9546364 |
| 2.85%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 14192 | 13061401 |
| 3.50%, 04/01/40 | &nbsp;&nbsp; 3226 | 2725158 |
| 3.50%, 04/01/50<sup>(a)</sup> | &nbsp;&nbsp; 16916 | 13178933 |
| NXP BV/NXP Funding LLC/NXP USA Inc. |  |  |
| 2.50%, 05/11/31<sup>(a)</sup> | &nbsp;&nbsp; 8598 | 7348257 |
| 2.65%, 02/15/32 | &nbsp;&nbsp; 8727 | 7377616 |
| 3.25%, 05/11/41 | &nbsp;&nbsp; 3761 | 2818291 |
| 3.40%, 05/01/30 | &nbsp;&nbsp; 10618 | 9775157 |
| 4.30%, 06/18/29<sup>(a)</sup> | &nbsp;&nbsp; 7060 | 6865597 |
| 5.00%, 01/15/33 | &nbsp;&nbsp; 9442 | 9273826 |
| Qualcomm Inc. |  |  |
| 1.30%, 05/20/28 | &nbsp;&nbsp; 10019 | 8967505 |
| 1.65%, 05/20/32 | &nbsp;&nbsp; 14549 | 11659772 |
| 2.15%, 05/20/30<sup>(a)</sup> | &nbsp;&nbsp; 14338 | 12603590 |
| 3.25%, 05/20/50<sup>(a)</sup> | &nbsp;&nbsp; 4144 | 2931176 |
| 4.30%, 05/20/47 | &nbsp;&nbsp; 14206 | 12059022 |
| 4.50%, 05/20/52<sup>(a)</sup> | &nbsp;&nbsp; 10569 | 9213550 |
| 4.65%, 05/20/35<sup>(a)</sup> | &nbsp;&nbsp; 7475 | 7313540 |
| 4.80%, 05/20/45<sup>(a)</sup> | &nbsp;&nbsp; 9466 | 8758522 |
| 6.00%, 05/20/53 | &nbsp;&nbsp; 8246 | 8864786 |
| Texas Instruments Inc. |  |  |
| 1.75%, 05/04/30 | &nbsp;&nbsp; 8189 | 7031639 |
| 2.25%, 09/04/29 | &nbsp;&nbsp; 7763 | 6998091 |
| 3.88%, 03/15/39 | &nbsp;&nbsp; 6637 | 5866096 |
| 4.15%, 05/15/48<sup>(a)</sup> | &nbsp;&nbsp; 10386 | 8809485 |
| 4.90%, 03/14/33 | &nbsp;&nbsp; 8444 | 8536663 |
| 5.05%, 05/18/63<sup>(a)</sup> | &nbsp;&nbsp; 11801 | 11119858 |
| 5.15%, 02/08/54 | &nbsp;&nbsp; 6141 | 6004877 |
|  |  | 916228467 |
| **Software — 3.3%** | **Software — 3.3%** | **Software — 3.3%** |
| Adobe Inc. |  |  |
| 2.30%, 02/01/30 | &nbsp;&nbsp; 14958 | 13374636 |
| 4.80%, 04/04/29<sup>(a)</sup> | &nbsp;&nbsp; 5999 | 6074029 |
| 4.95%, 04/04/34 | &nbsp;&nbsp; 8649 | 8705285 |
| Autodesk Inc., 2.40%, 12/15/31 | &nbsp;&nbsp; 8630 | 7337486 |
| Broadridge Financial Solutions Inc. |  |  |
| 2.60%, 05/01/31 | &nbsp;&nbsp; 10345 | 8928564 |
| 2.90%, 12/01/29 | &nbsp;&nbsp; 5197 | 4725550 |
| Cadence Design Systems Inc. |  |  |
| 4.30%, 09/10/29 | &nbsp;&nbsp; 7330 | 7191950 |
| 4.70%, 09/10/34 | &nbsp;&nbsp; 6958 | 6787588 |
| Fidelity National Information Services Inc. |  |  |
| 1.65%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3939 | 3563155 |
| 2.25%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 7496 | 6427274 |
| 3.10%, 03/01/41<sup>(a)</sup> | &nbsp;&nbsp; 5987 | 4437770 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| 5.10%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp; $4650 | $4682318 |
| Fiserv Inc. |  |  |
| 2.65%, 06/01/30 | &nbsp;&nbsp; 13974 | 12421772 |
| 3.50%, 07/01/29 | &nbsp;&nbsp; 28505 | 26933097 |
| 4.20%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 11256 | 11025823 |
| 4.40%, 07/01/49<sup>(a)</sup> | &nbsp;&nbsp; 9085 | 7683905 |
| 4.75%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 12923 | 12844131 |
| 5.15%, 08/12/34 | &nbsp;&nbsp; 8689 | 8617592 |
| 5.45%, 03/02/28 | &nbsp;&nbsp; 2069 | 2111151 |
| 5.45%, 03/15/34 | &nbsp;&nbsp; 8445 | 8563942 |
| 5.60%, 03/02/33 | &nbsp;&nbsp; 8473 | 8707652 |
| 5.63%, 08/21/33<sup>(a)</sup> | &nbsp;&nbsp; 12382 | 12738312 |
| Intuit Inc. |  |  |
| 5.13%, 09/15/28 | &nbsp;&nbsp; 5276 | 5389585 |
| 5.20%, 09/15/33 | &nbsp;&nbsp; 12007 | 12231389 |
| 5.50%, 09/15/53<sup>(a)</sup> | &nbsp;&nbsp; 8271 | 8430068 |
| Microsoft Corp. |  |  |
| 2.50%, 09/15/50 | &nbsp;&nbsp; 12164 | 7733983 |
| 2.53%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp; 49593 | 31772291 |
| 2.68%, 06/01/60 | &nbsp;&nbsp; 28913 | 17561765 |
| 2.92%, 03/17/52 | &nbsp;&nbsp; 50724 | 35019921 |
| 3.04%, 03/17/62 | &nbsp;&nbsp; 14193 | 9467124 |
| 3.45%, 08/08/36<sup>(a)</sup> | &nbsp;&nbsp; 15410 | 13659874 |
| 3.50%, 02/12/35<sup>(a)</sup> | &nbsp;&nbsp; 10078 | 9252991 |
| 3.70%, 08/08/46 | &nbsp;&nbsp; 16372 | 13618847 |
| 4.10%, 02/06/37 | &nbsp;&nbsp; 4685 | 4431545 |
| 4.25%, 02/06/47<sup>(a)</sup> | &nbsp;&nbsp; 10110 | 9454468 |
| 4.45%, 11/03/45<sup>(a)</sup> | &nbsp;&nbsp; 10098 | 9520247 |
| 4.50%, 02/06/57<sup>(a)</sup> | &nbsp;&nbsp; 5165 | 4849545 |
| Oracle Corp. |  |  |
| 2.30%, 03/25/28<sup>(a)</sup> | &nbsp;&nbsp; 14081 | 13026668 |
| 2.88%, 03/25/31 | &nbsp;&nbsp; 29871 | 26456658 |
| 2.95%, 04/01/30 | &nbsp;&nbsp; 27242 | 24723254 |
| 3.60%, 04/01/40 | &nbsp;&nbsp; 23096 | 18365025 |
| 3.60%, 04/01/50<sup>(a)</sup> | &nbsp;&nbsp; 36121 | 26045527 |
| 3.65%, 03/25/41 | &nbsp;&nbsp; 16767 | 13266372 |
| 3.80%, 11/15/37 | &nbsp;&nbsp; 13562 | 11485199 |
| 3.85%, 07/15/36 | &nbsp;&nbsp; 7603 | 6576476 |
| 3.85%, 04/01/60 | &nbsp;&nbsp; 25800 | 18355624 |
| 3.90%, 05/15/35 | &nbsp;&nbsp; 10354 | 9194380 |
| 3.95%, 03/25/51<sup>(a)</sup> | &nbsp;&nbsp; 25122 | 19165508 |
| 4.00%, 07/15/46 | &nbsp;&nbsp; 22718 | 17873250 |
| 4.00%, 11/15/47 | &nbsp;&nbsp; 17718 | 13813961 |
| 4.10%, 03/25/61<sup>(a)</sup> | &nbsp;&nbsp; 9885 | 7352503 |
| 4.13%, 05/15/45 | &nbsp;&nbsp; 15032 | 12081337 |
| 4.20%, 09/27/29 | &nbsp;&nbsp; 17758 | 17299805 |
| 4.30%, 07/08/34 | &nbsp;&nbsp; 13638 | 12718036 |
| 4.38%, 05/15/55 | &nbsp;&nbsp; 8772 | 7093795 |
| 4.50%, 05/06/28<sup>(a)</sup> | &nbsp;&nbsp; 2767 | 2752686 |
| 4.50%, 07/08/44 | &nbsp;&nbsp; 7434 | 6375915 |
| 4.65%, 05/06/30<sup>(a)</sup> | &nbsp;&nbsp; 4878 | 4835859 |
| 4.70%, 09/27/34 | &nbsp;&nbsp; 26275 | 25222579 |
| 4.90%, 02/06/33<sup>(a)</sup> | &nbsp;&nbsp; 10581 | 10435288 |
| 5.38%, 07/15/40<sup>(a)</sup> | &nbsp;&nbsp; 17685 | 17272165 |
| 5.38%, 09/27/54 | &nbsp;&nbsp; 19245 | 18324523 |
| 5.50%, 09/27/64 | &nbsp;&nbsp; 20925 | 19707355 |
| 5.55%, 02/06/53<sup>(a)</sup> | &nbsp;&nbsp; 17173 | 16790298 |
| 6.13%, 07/08/39 | &nbsp;&nbsp; 8930 | 9445361 |
| 6.15%, 11/09/29<sup>(a)</sup> | &nbsp;&nbsp; 8360 | 8837341 |
| 6.25%, 11/09/32<sup>(a)</sup> | &nbsp;&nbsp; 16801 | 18008963 |
| 6.50%, 04/15/38 | &nbsp;&nbsp; 10712 | 11674013 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| 6.90%, 11/09/52<sup>(a)</sup> | &nbsp;&nbsp; $19164 | $22051179 |
| Roper Technologies Inc. |  |  |
| 1.75%, 02/15/31 | &nbsp;&nbsp; 9409 | 7783024 |
| 4.20%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4609 | 4527710 |
| 4.90%, 10/15/34<sup>(a)</sup> | &nbsp;&nbsp; 9339 | 9103560 |
| Salesforce Inc. |  |  |
| 1.50%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 8738 | 7877765 |
| 1.95%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 13703 | 11563648 |
| 2.70%, 07/15/41<sup>(a)</sup> | &nbsp;&nbsp; 11570 | 8355085 |
| 2.90%, 07/15/51<sup>(a)</sup> | &nbsp;&nbsp; 17027 | 11318014 |
| 3.05%, 07/15/61<sup>(a)</sup> | &nbsp;&nbsp; 8630 | 5496400 |
| 3.70%, 04/11/28 | &nbsp;&nbsp; 9554 | 9345600 |
| Take-Two Interactive Software Inc., 4.95%, <br> 03/28/28<sup>(a)</sup><br>| &nbsp;&nbsp; 1420 | 1425065 |
| VMware LLC |  |  |
| 1.80%, 08/15/28 | &nbsp;&nbsp; 5596 | 5009097 |
| 2.20%, 08/15/31 | &nbsp;&nbsp; 13801 | 11513174 |
| 4.70%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 4777 | 4692167 |
| Workday Inc. |  |  |
| 3.70%, 04/01/29 | &nbsp;&nbsp; 5893 | 5649560 |
| 3.80%, 04/01/32 | &nbsp;&nbsp; 11133 | 10278818 |
|  |  | 966842215 |
| **Telecommunications — 6.3%** | **Telecommunications — 6.3%** | **Telecommunications — 6.3%** |
| AT&T Inc. |  |  |
| 1.65%, 02/01/28 | &nbsp;&nbsp; 3248 | 2951249 |
| 2.25%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp; 18799 | 15667218 |
| 2.55%, 12/01/33 | &nbsp;&nbsp; 28073 | 22835333 |
| 2.75%, 06/01/31 | &nbsp;&nbsp; 15614 | 13707983 |
| 3.30%, 02/01/52<sup>(a)</sup> | &nbsp;&nbsp; 10506 | 7198143 |
| 3.50%, 06/01/41 | &nbsp;&nbsp; 20717 | 16241442 |
| 3.50%, 09/15/53 | &nbsp;&nbsp; 59538 | 41537751 |
| 3.55%, 09/15/55<sup>(a)</sup> | &nbsp;&nbsp; 59991 | 41632374 |
| 3.65%, 06/01/51 | &nbsp;&nbsp; 24063 | 17481332 |
| 3.65%, 09/15/59<sup>(a)</sup> | &nbsp;&nbsp; 53638 | 36880523 |
| 3.80%, 12/01/57<sup>(a)</sup> | &nbsp;&nbsp; 47892 | 34316433 |
| 3.85%, 06/01/60 | &nbsp;&nbsp; 13825 | 9927558 |
| 4.10%, 02/15/28 | &nbsp;&nbsp; 5670 | 5565381 |
| 4.30%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 18652 | 18152936 |
| 4.30%, 12/15/42 | &nbsp;&nbsp; 11653 | 9925168 |
| 4.35%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 17923 | 17662204 |
| 4.35%, 06/15/45 | &nbsp;&nbsp; 10417 | 8783151 |
| 4.50%, 05/15/35 | &nbsp;&nbsp; 19120 | 17923748 |
| 4.50%, 03/09/48 | &nbsp;&nbsp; 15242 | 12968142 |
| 4.55%, 03/09/49 | &nbsp;&nbsp; 6464 | 5557616 |
| 4.75%, 05/15/46 | &nbsp;&nbsp; 14993 | 13342953 |
| 4.85%, 03/01/39 | &nbsp;&nbsp; 8685 | 8143939 |
| 5.25%, 03/01/37 | &nbsp;&nbsp; 5683 | 5615639 |
| 5.40%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 19559 | 19841966 |
| 5.65%, 02/15/47<sup>(a)</sup> | &nbsp;&nbsp; 6265 | 6300580 |
| Bell Telephone Co. of Canada or Bell Canada |  |  |
| 3.65%, 08/15/52 | &nbsp;&nbsp; 5612 | 4083988 |
| 4.46%, 04/01/48 | &nbsp;&nbsp; 10999 | 9235049 |
| 5.10%, 05/11/33<sup>(a)</sup> | &nbsp;&nbsp; 18250 | 18056698 |
| 5.55%, 02/15/54<sup>(a)</sup> | &nbsp;&nbsp; 4926 | 4860105 |
| British Telecommunications PLC, 9.63%, <br> 12/15/30<br>| &nbsp;&nbsp; 16606 | 20427094 |
| Cisco Systems Inc. |  |  |
| 4.85%, 02/26/29 | &nbsp;&nbsp; 31011 | 31369825 |
| 4.95%, 02/26/31 | &nbsp;&nbsp; 19993 | 20211647 |
| 5.05%, 02/26/34 | &nbsp;&nbsp; 22090 | 22429806 |
| 5.30%, 02/26/54<sup>(a)</sup> | &nbsp;&nbsp; 13605 | 13709379 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 5.35%, 02/26/64 | &nbsp;&nbsp; $7940 | $7979835 |
| 5.50%, 01/15/40 | &nbsp;&nbsp; 14868 | 15379211 |
| 5.90%, 02/15/39 | &nbsp;&nbsp; 22004 | 23686221 |
| Corning Inc. |  |  |
| 4.38%, 11/15/57 | &nbsp;&nbsp; 6305 | 5099915 |
| 5.45%, 11/15/79 | &nbsp;&nbsp; 7350 | 6890051 |
| Deutsche Telekom International Finance BV, <br> 8.75%, 06/15/30<br>| &nbsp;&nbsp; 20447 | 24052242 |
| Motorola Solutions Inc. |  |  |
| 2.30%, 11/15/30 | &nbsp;&nbsp; 8228 | 7068746 |
| 2.75%, 05/24/31 | &nbsp;&nbsp; 8842 | 7720761 |
| 4.60%, 05/23/29<sup>(a)</sup> | &nbsp;&nbsp; 4142 | 4103885 |
| 5.40%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp; 7188 | 7279250 |
| Orange SA |  |  |
| 5.38%, 01/13/42<sup>(a)</sup> | &nbsp;&nbsp; 6305 | 6184514 |
| 5.50%, 02/06/44<sup>(a)</sup> | &nbsp;&nbsp; 5666 | 5643633 |
| 9.00%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 22148 | 26776465 |
| Rogers Communications Inc. |  |  |
| 3.70%, 11/15/49 | &nbsp;&nbsp; 6822 | 4949330 |
| 3.80%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp; 19325 | 17586971 |
| 4.30%, 02/15/48<sup>(a)</sup> | &nbsp;&nbsp; 3150 | 2538202 |
| 4.35%, 05/01/49 | &nbsp;&nbsp; 12065 | 9761808 |
| 4.50%, 03/15/42<sup>(a)</sup> | &nbsp;&nbsp; 7278 | 6288089 |
| 4.55%, 03/15/52 | &nbsp;&nbsp; 15198 | 12559495 |
| 5.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 14814 | 14821043 |
| 5.00%, 03/15/44<sup>(a)</sup> | &nbsp;&nbsp; 8599 | 7791718 |
| 5.30%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 8704 | 8619977 |
| Sprint Capital Corp. |  |  |
| 6.88%, 11/15/28 | &nbsp;&nbsp; 24960 | 26775670 |
| 8.75%, 03/15/32 | &nbsp;&nbsp; 10966 | 13266067 |
| Telefonica Emisiones SA |  |  |
| 4.90%, 03/06/48 | &nbsp;&nbsp; 9355 | 8174360 |
| 5.21%, 03/08/47 | &nbsp;&nbsp; 17737 | 16098138 |
| 5.52%, 03/01/49<sup>(a)</sup> | &nbsp;&nbsp; 8393 | 7965273 |
| 7.05%, 06/20/36 | &nbsp;&nbsp; 21486 | 23967792 |
| Telefonica Europe BV, 8.25%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 4867 | 5595460 |
| TELUS Corp. |  |  |
| 3.40%, 05/13/32 | &nbsp;&nbsp; 3337 | 2977749 |
| 4.60%, 11/16/48 | &nbsp;&nbsp; 5790 | 4900295 |
| T-Mobile USA Inc. |  |  |
| 2.05%, 02/15/28 | &nbsp;&nbsp; 16435 | 15097830 |
| 2.25%, 11/15/31 | &nbsp;&nbsp; 8736 | 7333770 |
| 2.55%, 02/15/31 | &nbsp;&nbsp; 23212 | 20180979 |
| 2.63%, 02/15/29 | &nbsp;&nbsp; 18547 | 16935529 |
| 2.70%, 03/15/32 | &nbsp;&nbsp; 8549 | 7322030 |
| 2.88%, 02/15/31 | &nbsp;&nbsp; 14827 | 13142141 |
| 3.00%, 02/15/41 | &nbsp;&nbsp; 16399 | 12039434 |
| 3.30%, 02/15/51 | &nbsp;&nbsp; 20325 | 14024736 |
| 3.38%, 04/15/29 | &nbsp;&nbsp; 25589 | 24031508 |
| 3.40%, 10/15/52<sup>(a)</sup> | &nbsp;&nbsp; 19648 | 13647699 |
| 3.50%, 04/15/31 | &nbsp;&nbsp; 20807 | 19102129 |
| 3.60%, 11/15/60 | &nbsp;&nbsp; 13820 | 9540723 |
| 3.88%, 04/15/30 | &nbsp;&nbsp; 60829 | 57721289 |
| 4.38%, 04/15/40 | &nbsp;&nbsp; 12539 | 11098539 |
| 4.50%, 04/15/50 | &nbsp;&nbsp; 22036 | 18625182 |
| 4.70%, 01/15/35 | &nbsp;&nbsp; 10170 | 9795282 |
| 4.75%, 02/01/28 | &nbsp;&nbsp; 5222 | 5205571 |
| 4.80%, 07/15/28 | &nbsp;&nbsp; 13829 | 13840839 |
| 4.85%, 01/15/29 | &nbsp;&nbsp; 11551 | 11552481 |
| 4.95%, 03/15/28 | &nbsp;&nbsp; 10156 | 10207079 |
| 5.05%, 07/15/33 | &nbsp;&nbsp; 20881 | 20753503 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 5.15%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp; $10651 | $10635347 |
| 5.20%, 01/15/33 | &nbsp;&nbsp; 11506 | 11565175 |
| 5.25%, 06/15/55 | &nbsp;&nbsp; 13285 | 12606502 |
| 5.50%, 01/15/55<sup>(a)</sup> | &nbsp;&nbsp; 7798 | 7660393 |
| 5.65%, 01/15/53 | &nbsp;&nbsp; 12044 | 12084671 |
| 5.75%, 01/15/34 | &nbsp;&nbsp; 5165 | 5371190 |
| 5.75%, 01/15/54 | &nbsp;&nbsp; 8396 | 8514806 |
| 5.80%, 09/15/62<sup>(a)</sup> | &nbsp;&nbsp; 4021 | 4055737 |
| 6.00%, 06/15/54<sup>(a)</sup> | &nbsp;&nbsp; 6724 | 7054582 |
| Verizon Communications Inc. |  |  |
| 1.50%, 09/18/30<sup>(a)</sup> | &nbsp;&nbsp; 15292 | 12723261 |
| 1.68%, 10/30/30 | &nbsp;&nbsp; 8058 | 6698837 |
| 1.75%, 01/20/31 | &nbsp;&nbsp; 20049 | 16614817 |
| 2.10%, 03/22/28<sup>(a)</sup> | &nbsp;&nbsp; 14266 | 13089650 |
| 2.36%, 03/15/32 | &nbsp;&nbsp; 33042 | 27538584 |
| 2.55%, 03/21/31 | &nbsp;&nbsp; 31698 | 27485742 |
| 2.65%, 11/20/40 | &nbsp;&nbsp; 26352 | 18401359 |
| 2.85%, 09/03/41 | &nbsp;&nbsp; 14813 | 10543725 |
| 2.88%, 11/20/50<sup>(a)</sup> | &nbsp;&nbsp; 21135 | 13521683 |
| 2.99%, 10/30/56<sup>(a)</sup> | &nbsp;&nbsp; 21879 | 13505712 |
| 3.00%, 11/20/60<sup>(a)</sup> | &nbsp;&nbsp; 11928 | 7217599 |
| 3.15%, 03/22/30 | &nbsp;&nbsp; 14745 | 13529164 |
| 3.40%, 03/22/41 | &nbsp;&nbsp; 31929 | 24734071 |
| 3.55%, 03/22/51<sup>(a)</sup> | &nbsp;&nbsp; 35150 | 25695887 |
| 3.70%, 03/22/61<sup>(a)</sup> | &nbsp;&nbsp; 22590 | 16055215 |
| 3.88%, 02/08/29<sup>(a)</sup> | &nbsp;&nbsp; 15492 | 14974634 |
| 3.88%, 03/01/52<sup>(a)</sup> | &nbsp;&nbsp; 9937 | 7646247 |
| 4.00%, 03/22/50 | &nbsp;&nbsp; 11059 | 8751923 |
| 4.02%, 12/03/29 | &nbsp;&nbsp; 33157 | 31849838 |
| 4.13%, 08/15/46 | &nbsp;&nbsp; 8434 | 6861657 |
| 4.27%, 01/15/36 | &nbsp;&nbsp; 11747 | 10747790 |
| 4.33%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; 28831 | 28439317 |
| 4.40%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp; 14923 | 14011446 |
| 4.50%, 08/10/33 | &nbsp;&nbsp; 13821 | 13193734 |
| 4.52%, 09/15/48 | &nbsp;&nbsp; 10701 | 9304403 |
| 4.81%, 03/15/39 | &nbsp;&nbsp; 11012 | 10303429 |
| 4.86%, 08/21/46<sup>(a)</sup> | &nbsp;&nbsp; 18698 | 17139157 |
| 5.01%, 08/21/54 | &nbsp;&nbsp; 7174 | 6601391 |
| 5.05%, 05/09/33<sup>(a)</sup> | &nbsp;&nbsp; 9878 | 9877319 |
| 5.25%, 03/16/37 | &nbsp;&nbsp; 9813 | 9733648 |
| 5.50%, 02/23/54 | &nbsp;&nbsp; 8591 | 8526148 |
| 6.55%, 09/15/43<sup>(a)</sup> | &nbsp;&nbsp; 7133 | 7971744 |
| Vodafone Group PLC |  |  |
| 4.25%, 09/17/50 | &nbsp;&nbsp; 12227 | 9728816 |
| 4.38%, 02/19/43<sup>(a)</sup> | &nbsp;&nbsp; 5641 | 4912024 |
| 4.88%, 06/19/49<sup>(a)</sup> | &nbsp;&nbsp; 13305 | 11735780 |
| 5.25%, 05/30/48<sup>(a)</sup> | &nbsp;&nbsp; 8867 | 8395484 |
| 5.75%, 06/28/54<sup>(a)</sup> | &nbsp;&nbsp; 14602 | 14493973 |
| 5.88%, 06/28/64<sup>(a)</sup> | &nbsp;&nbsp; 7281 | 7154262 |
| 6.15%, 02/27/37 | &nbsp;&nbsp; 12549 | 13374453 |
|  |  | 1840877118 |
| **Toys, Games & Hobbies — 0.0%** | **Toys, Games & Hobbies — 0.0%** | **Toys, Games & Hobbies — 0.0%** |
| Hasbro Inc., 3.90%, 11/19/29 | &nbsp;&nbsp; 11725 | 11057305 |
| **Transportation — 1.6%** | **Transportation — 1.6%** | **Transportation — 1.6%** |
| Burlington Northern Santa Fe LLC |  |  |
| 3.30%, 09/15/51 | &nbsp;&nbsp; 8501 | 6059601 |
| 3.55%, 02/15/50 | &nbsp;&nbsp; 6296 | 4775054 |
| 3.90%, 08/01/46 | &nbsp;&nbsp; 7130 | 5785761 |
| 4.05%, 06/15/48 | &nbsp;&nbsp; 7687 | 6368054 |
| 4.13%, 06/15/47 | &nbsp;&nbsp; 3790 | 3171536 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| 4.15%, 04/01/45 | &nbsp;&nbsp; $7938 | $6711564 |
| 4.15%, 12/15/48 | &nbsp;&nbsp; 7587 | 6338358 |
| 4.45%, 03/15/43 | &nbsp;&nbsp; 9660 | 8626732 |
| 4.45%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp; 7488 | 6569053 |
| 4.55%, 09/01/44 | &nbsp;&nbsp; 6707 | 6013257 |
| 4.90%, 04/01/44 | &nbsp;&nbsp; 8283 | 7791763 |
| 5.20%, 04/15/54<sup>(a)</sup> | &nbsp;&nbsp; 13264 | 13013151 |
| 5.50%, 03/15/55<sup>(a)</sup> | &nbsp;&nbsp; 10687 | 10922277 |
| 5.75%, 05/01/40 | &nbsp;&nbsp; 5292 | 5552591 |
| Canadian National Railway Co. |  |  |
| 3.85%, 08/05/32<sup>(a)</sup> | &nbsp;&nbsp; 5598 | 5233291 |
| 4.38%, 09/18/34 | &nbsp;&nbsp; 6048 | 5788791 |
| Canadian Pacific Railway Co. |  |  |
| 2.45%, 12/02/31<sup>(a)</sup> | &nbsp;&nbsp; 8726 | 7527687 |
| 3.00%, 12/02/41<sup>(a)</sup> | &nbsp;&nbsp; 7695 | 5719679 |
| 3.10%, 12/02/51<sup>(a)</sup> | &nbsp;&nbsp; 13359 | 9069376 |
| 6.13%, 09/15/2115<sup>(a)</sup> | &nbsp;&nbsp; 5668 | 5902391 |
| CSX Corp. |  |  |
| 3.80%, 03/01/28 | &nbsp;&nbsp; 3699 | 3607279 |
| 3.80%, 11/01/46<sup>(a)</sup> | &nbsp;&nbsp; 4565 | 3598715 |
| 4.10%, 11/15/32 | &nbsp;&nbsp; 7020 | 6663632 |
| 4.10%, 03/15/44<sup>(a)</sup> | &nbsp;&nbsp; 6536 | 5518400 |
| 4.25%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7697 | 7576671 |
| 4.30%, 03/01/48 | &nbsp;&nbsp; 7574 | 6441685 |
| 4.50%, 11/15/52<sup>(a)</sup> | &nbsp;&nbsp; 6493 | 5679732 |
| FedEx Corp. |  |  |
| 2.40%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 8008 | 6884872 |
| 3.10%, 08/05/29<sup>(a)</sup> | &nbsp;&nbsp; 7549 | 7007618 |
| 3.25%, 05/15/41 | &nbsp;&nbsp; 6357 | 4718636 |
| 4.05%, 02/15/48<sup>(a)</sup> | &nbsp;&nbsp; 9708 | 7678624 |
| 4.25%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2663 | 2591524 |
| 4.40%, 01/15/47 | &nbsp;&nbsp; 7234 | 5967057 |
| 4.55%, 04/01/46 | &nbsp;&nbsp; 10982 | 9334989 |
| 4.75%, 11/15/45 | &nbsp;&nbsp; 10348 | 9075331 |
| 4.95%, 10/17/48<sup>(a)</sup> | &nbsp;&nbsp; 8216 | 7373379 |
| 5.10%, 01/15/44<sup>(a)</sup> | &nbsp;&nbsp; 6149 | 5730152 |
| 5.25%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp; 10856 | 10217483 |
| Norfolk Southern Corp. |  |  |
| 3.05%, 05/15/50 | &nbsp;&nbsp; 4838 | 3239617 |
| 3.16%, 05/15/55 | &nbsp;&nbsp; 7188 | 4727888 |
| 4.55%, 06/01/53<sup>(a)</sup> | &nbsp;&nbsp; 4914 | 4260265 |
| 5.35%, 08/01/54<sup>(a)</sup> | &nbsp;&nbsp; 7274 | 7176643 |
| Union Pacific Corp. |  |  |
| 2.38%, 05/20/31 | &nbsp;&nbsp; 6886 | 5999959 |
| 2.40%, 02/05/30 | &nbsp;&nbsp; 3725 | 3326517 |
| 2.80%, 02/14/32<sup>(a)</sup> | &nbsp;&nbsp; 10053 | 8861820 |
| 2.95%, 03/10/52<sup>(a)</sup> | &nbsp;&nbsp; 8217 | 5462793 |
| 2.97%, 09/16/62 | &nbsp;&nbsp; 9080 | 5537087 |
| 3.20%, 05/20/41 | &nbsp;&nbsp; 10037 | 7742408 |
| 3.25%, 02/05/50<sup>(a)</sup> | &nbsp;&nbsp; 15318 | 10959709 |
| 3.50%, 02/14/53<sup>(a)</sup> | &nbsp;&nbsp; 10314 | 7580266 |
| 3.70%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8390 | 8110908 |
| 3.75%, 02/05/70 | &nbsp;&nbsp; 5725 | 4087446 |
| 3.80%, 10/01/51 | &nbsp;&nbsp; 8999 | 7045387 |
| 3.80%, 04/06/71 | &nbsp;&nbsp; 8229 | 5922126 |
| 3.84%, 03/20/60 | &nbsp;&nbsp; 14328 | 10758561 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| 3.95%, 09/10/28<sup>(a)</sup> | &nbsp;&nbsp; $6498 | $6357991 |
| 4.50%, 01/20/33<sup>(a)</sup> | &nbsp;&nbsp; 4294 | 4198248 |
| United Parcel Service Inc. |  |  |
| 3.40%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5054 | 4829343 |
| 3.75%, 11/15/47<sup>(a)</sup> | &nbsp;&nbsp; 9299 | 7253115 |
| 4.25%, 03/15/49 | &nbsp;&nbsp; 6895 | 5838603 |
| 4.45%, 04/01/30 | &nbsp;&nbsp; 2779 | 2754599 |
| 4.88%, 03/03/33<sup>(a)</sup> | &nbsp;&nbsp; 6046 | 6049398 |
| 5.05%, 03/03/53<sup>(a)</sup> | &nbsp;&nbsp; 9084 | 8655945 |
| 5.15%, 05/22/34<sup>(a)</sup> | &nbsp;&nbsp; 8010 | 8126407 |
| 5.30%, 04/01/50<sup>(a)</sup> | &nbsp;&nbsp; 7259 | 7204049 |
| 5.50%, 05/22/54<sup>(a)</sup> | &nbsp;&nbsp; 9157 | 9360279 |
| 6.20%, 01/15/38 | &nbsp;&nbsp; 16679 | 18275314 |
| Walmart Inc. |  |  |
| 1.50%, 09/22/28<sup>(a)</sup> | &nbsp;&nbsp; 2564 | 2310124 |
| 1.80%, 09/22/31<sup>(a)</sup> | &nbsp;&nbsp; 23643 | 19955023 |
|  |  | 474573584 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| American Water Capital Corp. |  |  |
| 3.75%, 09/01/47 | &nbsp;&nbsp; 10233 | 7847699 |
| 4.45%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp; 8000 | 7777023 |
| 6.59%, 10/15/37 | &nbsp;&nbsp; 6488 | 7297215 |
|  |  | 22921937 |
| **Total Long-Term Investments — 97.5%** <br>**(Cost: $31,766,318,726)** | **Total Long-Term Investments — 97.5%** <br>**(Cost: $31,766,318,726)** | 28445291929 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 9.1%** | **Money Market Funds — 9.1%** | **Money Market Funds — 9.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 2251897295 | 2253473623 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 418530000 | 418530000 |
| **Total Short-Term Securities — 9.1%** <br>**(Cost: $2,670,295,340)** | **Total Short-Term Securities — 9.1%** <br>**(Cost: $2,670,295,340)** | 2672003623 |
| **Total Investments — 106.6%** <br>**(Cost: $34,436,614,066)** | **Total Investments — 106.6%** <br>**(Cost: $34,436,614,066)** | 31117295552 |
| **Liabilities in Excess of Other Assets — (6.6)%** | **Liabilities in Excess of Other Assets — (6.6)%** | (1938398619)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $29178896933 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

------

Schedule of Investments (unaudited)(continued)

October 31, 2024

**iShares® iBoxx $ Investment Grade Corporate Bond ETF**

**Fair Value Hierarchy as of Period End** 

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

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

• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $28445291929 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $28445291929 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 2672003623 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2672003623 |
|  | &nbsp;&nbsp; $2672003623 | &nbsp;&nbsp; $28445291929 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $31117295552 |

---

------

Statements of Assets and Liabilities (unaudited)

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBoxx $ High Yield <br> Corporate Bond <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBoxx $ Investment <br> Grade Corporate <br> Bond ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $13878552436 | $28445291929 |
| Investments, at value—affiliated<sup>(c)</sup> | 2695807820 | 2672003623 |
| Foreign currency, at value<sup>(d)</sup> | 46241 |  |
| Receivables: |  |  |
| Investments sold | 63714114 | 123148181 |
| Securities lending income—affiliated | 1196109 | 467484 |
| Capital shares sold | 219901 | 1306654 |
| Dividends—affiliated | 228055 | 1473747 |
| Interest—unaffiliated | 235058522 | 329568600 |
| Total assets | 16874823198 | 31573260218 |
| **LIABILITIES** |  |  |
| Bank overdraft | 31091229 | 851981 |
| Collateral on securities loaned, at value | 2617216614 | 2251633275 |
| Payables: |  |  |
| Investments purchased | 78872499 | 137033902 |
| Capital shares redeemed | 25866 | 1458629 |
| Investment advisory fees | 6128511 | 3385498 |
| Total liabilities | 2733334719 | 2394363285 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $14141488479 | $29178896933 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $16711679971 | $34566361189 |
| Accumulated loss | (2570191492) | (5387464256) |
| NET ASSETS | $14141488479 | $29178896933 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 178500000 | 267500000 |
| Net asset value | $79.22 | $109.08 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $14612247618 | $31766318726 |
| <sup>(b)</sup> Securities loaned, at value | $2509564573 | $2169990031 |
| <sup>(c)</sup> Investments, at cost—affiliated | $2693774555 | $2670295340 |
| <sup>(d)</sup> Foreign currency, at cost | $45045 | $— |

---

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| NVS | Non-Voting Shares |
| PIK | Payment-in-kind |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

---

------

Additional

Financial

Information

Schedule

of

Investments

(Unaudited)

October

31,

2024

Statement

of

Assets

and

Liabilities

(Unaudited)

October

31,

2024

#### iShares

#### Trust
iShares

20+

Year

Treasury

Bond

ETF

\|

TLT

\|

NASDAQ

Schedule

of

Investments

(unaudited)

October

31,

2024

#### iShares

####®

#### 20+

#### Year

#### Treasury

#### Bond

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)

#### Fair

#### Value

#### Hierarchy

#### as

#### of

#### Period

#### End
Various

inputs

are

used

in

determining

the

fair

value

of

financial

instruments

at

the

measurement

date.

These

inputs

to

valuation

techniques

are

categorized

into

a

fair

value

hierarchy

consisting

of

three

broad

levels

for

financial

reporting

purposes

as

follows:

Level

—

Unadjusted

price

quotations

in

active

markets/exchanges

that

the

Fund

has

the

ability

to

access

for

identical,

unrestricted

assets

or

liabilities;

Level

—

Inputs

other

than

quoted

prices

included

within

level

that

are

observable

for

the

asset

or

liability,

either

directly

or

indirectly;

and

Level

—

Inputs

that

are

unobservable

and

significant

to

the

entire

fair

value

measurement

for

the

asset

or

liability

(including

the

Valuation

Committee's

assumptions

used

in

determining

the

fair

value

of

financial

instruments).

The

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

measurements).

Accordingly,

the

degree

of

judgment

exercised

in

determining

fair

value

is

greatest

for

instruments

categorized

in

Level

3. The

inputs

used

to

measure

fair

value

may

fall

into

different

levels

of

the

fair

value

hierarchy.

In

such

cases,

for

disclosure

purposes,

the

fair

value

hierarchy

classification

is

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

Investments

classified

within

Level

have

significant

unobservable

inputs

used

by

the

Valuation

Committee

in

determining

the

price

for

Fair

Valued

Investments.

Level

investments

include

equity

or

debt

issued

by

privately

held

companies

or

funds.

There

may

not

be

a

secondary

market,

and/

or

there

are

a

limited

number

of

investors.

The

categorization

of

a

value

determined

for

financial

instruments

is

based

on

the

pricing

transparency

of

the

financial

instruments

and

is

not

necessarily

an

indication

of

the

risks

associated

with

investing

in

those

securities.

For

information

about

the

Fund's

policy

regarding

valuation

of

financial

instruments,

refer

to

its

most

recent

financial

statements.

The

following

table

summarizes

the

Fund's

financial

instruments

categorized

in

the

fair

value

hierarchy.

The

breakdown

of

the

Fund's

financial

instruments

into

major

categories

is

disclosed

in

the

Schedule

of

Investments

above.

*Security*

*Par* 

(000) *Par* 

(000) *Value*

#### U.S.

#### Treasury

#### Obligations
U.S.

Treasury

Bonds

2.75%, 11/15/42

-

11/15/47

...........

USD

1,783,839

$

1,309,956,630

4.00%, 11/15/42

-

11/15/52

...........

2,276,189

2,091,608,796

3.13%, 02/15/43

-

05/15/48

...........

4,032,763

3,202,675,365

2.88%, 05/15/43

-

05/15/52

...........

4,345,716

3,283,547,963

3.63%, 08/15/43

-

05/15/53

...........

4,787,079

4,112,381,605

4.50%, 02/15/44

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

414,813

3.38%, 05/15/44

-

11/15/48

...........

2,035,251

1,665,041,320

3.00%, 11/15/44

-

08/15/52

...........

9,716,224

7,443,947,678

2.50%, 02/15/45

-

05/15/46

...........

5,909,763

4,206,573,086

2.25%, 08/15/49

-

02/15/52

...........

3,007,908

1,951,090,439

2.38%, 11/15/49

-

05/15/51

...........

595,603

397,610,184

2.00%, 02/15/50

-

08/15/51

...........

9,606,521

5,841,615,496

1.25%, 05/15/50

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

921,929

463,233,312

1.38%, 08/15/50

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

2,951,054

1,526,478,725

1.63%, 11/15/50

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

5,641,698

3,118,140,080

1.88%, 02/15/51

-

11/15/51

...........

11,966,471

7,029,044,036

4.13%, 08/15/53

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

2,959,231

2,780,752,568

4.75%, 11/15/53

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

2,510,780

2,618,272,769

4.25%, 02/15/54

-

08/15/54

...........

3,900,774

3,751,092,887

*Security*

*Par* 

(000) *Par* 

(000) *Value*

#### U.S.

#### Treasury

#### Obligations
(continued)

4.63%, 05/15/54

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

USD

2,409,369

$

2,465,461,815

#### Total

#### Long-Term

#### Investments

#### —

#### 98.0%

#### (Cost:

#### $65,727,067,612)
............................

59,258,939,567

*Shares*

*Shares*

#### Short-Term

#### Securities

#### Money

#### Market

#### Funds

#### —

#### 0.5%
BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares,

4.83%

(a)(b) .................

277,792,705

277,792,705

#### Total

#### Short-Term

#### Securities

#### —

#### 0.5%

#### (Cost:

#### $277,792,705)
..............................

277,792,705

#### Total

#### Investments

#### —

#### 98.5%

#### (Cost:

#### $66,004,860,317)

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

59,536,732,272

#### Other

#### Assets

#### Less

#### Liabilities

#### —

#### 1.5%
....................

912,973,093

#### Net

#### Assets

#### —

#### 100.0%
...............................

$

60,449,705,365

(a) Affiliate

of

the

Fund.

(b) Annualized

7-day

yield

as

of

period

end.

*Level* 

*1*

*Level* 

*2*

*Level* 

*3*

*Total*

Assets

Investments

Long-Term

Investments

U.S.

Treasury

Obligations

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

$

—

$

59,258,939,567

$

—

$

59,258,939,567

Short-Term

Securities

Money

Market

Funds

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

277,792,705

—

—

277,792,705

$

277,792,705

$

59,258,939,567

$

—

$

59,536,732,272

Statement

of

Assets

and

Liabilities

(unaudited)

October

31,

2024

iShares

20+

Year

Treasury

Bond

ETF

#### ASSETS
Investments,

at

value

—

unaffiliated

(a) ........................................................................................

$

59,258,939,567

Investments,

at

value

—

affiliated

(b) ..........................................................................................

277,792,705

Receivables:

–

Investment

s

sold

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

251,595,649

Capital

shares

sold

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

1,726,178

Dividends

—

affiliated

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

1,144,807

Interest

—

unaffiliated

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

710,594,783

Total

a

ssets

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

60,501,793,689

#### LIABILITIES
Payables:

–

Investments

purchased

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

44,295,748

Capital

shares

redeemed

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

215,772

Investment

advisory

fees

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

7,576,804

Total

li

abilities

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

52,088,324

#### Commitments

#### and

#### contingent

#### liabilities
—

NET

ASSETS

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

$

60,449,705,365

#### NET

#### ASSETS

#### CONSIST

#### OF:
Paid-in

capital

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

$

74,634,236,582

Accumulated

loss

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

(14,184,531,217)

NET

ASSETS

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

$

60,449,705,365

#### NET

#### ASSET

#### VALUE
Shares

outstanding

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

653,800,000

Net

asset

value

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

$

92.46 Shares

authorized

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

Unlimited

Par

value

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

None

(a) &nbsp;&nbsp;&nbsp;&nbsp;Investments,

at

cost

—

unaffiliated

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

$

65,727,067,612

(b) &nbsp;&nbsp;&nbsp;&nbsp;Investments,

at

cost

—

affiliated

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

$

277,792,705

Glossary

of

Terms

Used

in

this

Report

#### Currency

#### Abbreviation
USD

United

States

Dollar

------

Additional

Financial

Information

Schedules

of

Investments

(Unaudited)

October

31,

2024

Statements

of

Assets

and

Liabilities

(Unaudited)

October

31,

2024

#### iShares

#### Trust
iShares

Core

S&P

500

ETF

\|

IVV

\|

NYSE

Arca

iShares

Russell

2000

ETF

\|

IWM

\|

NYSE

Arca

Schedule

of

Investments

(unaudited)

October

31,

2024

#### iShares

####®

#### Core

#### S&P

#### 500

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Common

#### Stocks

#### Aerospace

#### &

#### Defense

#### —

#### 1.9%
Axon

Enterprise,

Inc.

(a)(b) ...............

798,670

$

338,236,745

Boeing

Co.

(The)

(a)(b) ..................

8,131,880

1,214,171,003

General

Dynamics

Corp.

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

2,870,430

837,046,092

General

Electric

Co.

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

12,072,037

2,073,734,516

Howmet

Aerospace,

Inc.

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

4,543,683

453,096,069

Huntington

Ingalls

Industries,

Inc.

.........

436,388

80,714,324

L3Harris

Technologies,

Inc.

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

2,111,788

522,604,176

Lockheed

Martin

Corp.

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

2,361,243

1,289,356,740

Northrop

Grumman

Corp.

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

1,530,081

778,841,831

RTX

Corp.

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

14,809,509

1,791,802,494

Textron,

Inc.

(a) ......................

2,086,317

167,781,613

TransDigm

Group,

Inc.

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

624,516

813,307,187

10,360,692,790

#### Air

#### Freight

#### &

#### Logistics

#### —

#### 0.4%
CH

Robinson

Worldwide,

Inc.

...........

1,305,244

134,492,342

Expeditors

International

of

Washington,

Inc.

..

1,570,611

186,902,709

FedEx

Corp.

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

2,508,727

687,014,889

United

Parcel

Service,

Inc.

,

Class

B

.......

8,155,166

1,093,281,554

2,101,691,494

#### Automobile

#### Components

#### —

#### 0.0%
Aptiv

plc

(a)(b) ........................

2,958,604

168,137,465

BorgWarner,

Inc.

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

2,536,318

85,296,375

253,433,840

#### Automobiles

#### —

#### 1.6%
Ford

Motor

Co.

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

43,467,517

447,280,750

General

Motors

Co.

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

12,512,410

635,129,932

Tesla,

Inc.

(b) ........................

30,888,918

7,717,596,162

8,800,006,844

#### Banks

#### —

#### 3.3%
Bank

of

America

Corp.

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

75,156,841

3,143,059,091

Citigroup,

Inc.

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

21,239,009

1,362,907,208

Citizens

Financial

Group,

Inc.

...........

4,991,046

210,222,858

Fifth

Third

Bancorp

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

7,534,811

329,120,545

Huntington

Bancshares,

Inc.

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

16,169,546

252,083,222

JPMorgan

Chase

&

Co.

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

31,674,898

7,029,293,364

KeyCorp

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

10,332,081

178,228,397

M&T

Bank

Corp.

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

1,859,658

362,038,219

PNC

Financial

Services

Group,

Inc.

(The)

...

4,425,452

833,179,848

Regions

Financial

Corp.

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

10,188,400

243,197,108

Truist

Financial

Corp.

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

14,908,329

641,803,563

US

Bancorp

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

17,372,446

839,262,866

Wells

Fargo

&

Co.

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

37,893,792

2,460,064,977

17,884,461,266

#### Beverages

#### —

#### 1.3%
Brown-Forman

Corp.

,

Class

B,

NVS

.......

2,040,454

89,841,190

Coca-Cola

Co.

(The)

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

43,183,523

2,820,315,887

Constellation

Brands,

Inc.

,

Class

A

........

1,744,922

405,415,177

Keurig

Dr

Pepper,

Inc.

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

12,534,222

413,002,615

Molson

Coors

Beverage

Co.

,

Class

B

......

1,956,239

106,556,338

Monster

Beverage

Corp.

(a)(b) .............

7,852,182

413,652,948

PepsiCo,

Inc.

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

15,292,421

2,539,765,280

6,788,549,435

#### Biotechnology

#### —

#### 1.9%
AbbVie,

Inc.

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

19,665,030

4,009,109,666

Amgen,

Inc.

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

5,982,703

1,915,422,192

Biogen,

Inc.

(b) ......................

1,621,618

282,161,532

Gilead

Sciences,

Inc.

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

13,860,871

1,231,122,562

Incyte

Corp.

(a)(b) .....................

1,779,041

131,862,519

Moderna,

Inc.

(a)(b) ....................

3,766,049

204,722,424

*Security*

*Shares*

*Shares*

*Value*

#### Biotechnology
(continued)

Regeneron

Pharmaceuticals,

Inc.

(a)(b) .......

1,181,788

$

990,574,702

Vertex

Pharmaceuticals,

Inc.

(a)(b) ..........

2,874,116

1,368,021,734

10,132,997,331

#### Broadline

#### Retail

#### —

#### 3.7%
Amazon.com,

Inc.

(b) ..................

103,994,442

19,384,563,989

eBay,

Inc.

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

5,444,113

313,090,938

19,697,654,927

#### Building

#### Products

#### —

#### 0.5%
A

O

Smith

Corp.

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

1,335,682

100,309,718

Allegion

plc

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

969,302

135,343,638

Builders

FirstSource

,

Inc.

(a)(b) ............

1,296,744

222,261,921

Carrier

Global

Corp.

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

9,346,687

679,691,079

Johnson

Controls

International

plc

........

7,437,398

561,895,419

Masco

Corp.

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

2,429,882

194,171,871

Trane

Technologies

plc

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

2,511,898

929,804,164

2,823,477,810

#### Capital

#### Markets

#### —

#### 3.1%
Ameriprise

Financial,

Inc.

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

1,093,147

557,832,914

Bank

of

New

York

Mellon

Corp.

(The)

......

8,215,559

619,124,526

BlackRock,

Inc.

(a)(c) ...................

1,548,749

1,519,369,233

Blackstone,

Inc.

,

Class

A

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

8,015,976

1,344,679,974

CBOE

Global

Markets,

Inc.

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

1,165,130

248,836,814

Charles

Schwab

Corp.

(The)

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

16,631,886

1,178,036,485

CME

Group,

Inc.

,

Class

A

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

4,009,163

903,504,974

FactSet

Research

Systems,

Inc.

..........

422,797

191,975,206

Franklin

Resources,

Inc.

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

3,434,856

71,341,959

Goldman

Sachs

Group,

Inc.

(The)

........

3,516,375

1,820,743,811

Intercontinental

Exchange,

Inc.

..........

6,391,512

996,244,975

Invesco

Ltd.

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

5,009,822

86,870,314

KKR

&

Co.,

Inc.

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

7,509,032

1,038,048,584

MarketAxess

Holdings,

Inc.

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

419,938

121,538,456

Moody's

Corp.

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

1,744,097

791,889,802

Morgan

Stanley

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

13,868,830

1,612,251,488

MSCI,

Inc.

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

874,926

499,757,731

Nasdaq,

Inc.

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

4,607,540

340,589,357

Northern

Trust

Corp.

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

2,244,581

225,625,282

Raymond

James

Financial,

Inc.

(a) .........

2,064,118

305,943,570

S&P

Global,

Inc.

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

3,564,501

1,712,243,700

State

Street

Corp.

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

3,323,948

308,462,374

T. Rowe

Price

Group,

Inc.

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

2,478,814

272,322,506

16,767,234,035

#### Chemicals

#### —

#### 1.4%
Air

Products

&

Chemicals,

Inc.

...........

2,474,525

768,414,248

Albemarle

Corp.

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

1,307,852

123,892,820

Celanese

Corp.

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

1,216,992

153,304,482

CF

Industries

Holdings,

Inc.

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

2,009,057

165,204,757

Corteva,

Inc.

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

7,706,666

469,490,093

Dow,

Inc.

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

7,803,087

385,316,436

DuPont

de

Nemours,

Inc.

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

4,648,325

385,764,492

Eastman

Chemical

Co.

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

1,301,395

136,763,601

Ecolab,

Inc.

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

2,819,822

692,914,860

FMC

Corp.

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

1,389,995

90,335,775

International

Flavors

&

Fragrances,

Inc.

.....

2,846,109

282,988,618

Linde

plc

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

5,351,759

2,441,204,868

LyondellBasell

Industries

NV

,

Class

A

......

2,895,845

251,504,138

Mosaic

Co.

(The)

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

3,547,019

94,918,228

PPG

Industries,

Inc.

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

2,597,577

323,424,312

Sherwin-Williams

Co.

(The)

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

2,583,488

926,877,990

7,692,319,718

#### Commercial

#### Services

#### &

#### Supplies

#### —

#### 0.6%
Cintas

Corp.

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

3,813,758

784,909,534

Copart,

Inc.

(a)(b) .....................

9,748,392

501,749,736

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Core

#### S&P

#### 500

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Commercial

#### Services

#### &

#### Supplies
(continued)

Republic

Services,

Inc.

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

2,273,248

$

450,103,104

Rollins,

Inc.

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

3,127,249

147,418,518

Veralto

Corp.

(a) .....................

2,750,950

281,119,580

Waste

Management,

Inc.

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

4,065,955

877,636,387

3,042,936,859

#### Communications

#### Equipment

#### —

#### 0.9%
Arista

Networks,

Inc.

(b) ................

2,867,600

1,108,155,344

Cisco

Systems,

Inc.

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

44,853,267

2,456,613,433

F5,

Inc.

(a)(b) ........................

648,225

151,606,863

Juniper

Networks,

Inc.

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

3,665,274

142,579,159

Motorola

Solutions,

Inc.

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

1,857,989

834,887,357

4,693,842,156

#### Construction

#### &

#### Engineering

#### —

#### 0.1%
Quanta

Services,

Inc.

(a) ................

1,640,205

494,735,034

#### Construction

#### Materials

#### —

#### 0.1%
Martin

Marietta

Materials,

Inc.

...........

680,300

402,968,902

Vulcan

Materials

Co.

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

1,470,227

402,739,282

805,708,184

#### Consumer

#### Finance

#### —

#### 0.6%
American

Express

Co.

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

6,252,726

1,688,736,238

Capital

One

Financial

Corp.

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

4,251,615

692,120,406

Discover

Financial

Services

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

2,794,695

414,816,579

Synchrony

Financial

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

4,400,742

242,656,914

3,038,330,137

#### Consumer

#### Staples

#### Distribution

#### &

#### Retail

#### —

#### 1.9%
Costco

Wholesale

Corp.

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

4,935,690

4,314,681,484

Dollar

General

Corp.

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

2,448,240

195,957,130

Dollar

Tree,

Inc.

(b) ....................

2,248,850

145,365,664

Kroger

Co.

(The)

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

7,392,312

412,269,240

Sysco

Corp.

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

5,475,260

410,370,737

Target

Corp.

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

5,150,101

772,721,154

Walgreens

Boots

Alliance,

Inc.

...........

7,976,188

75,454,739

Walmart,

Inc.

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

48,356,815

3,962,840,989

10,289,661,137

#### Containers

#### &

#### Packaging

#### —

#### 0.2%
Amcor

plc

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

16,090,982

179,092,630

Avery

Dennison

Corp.

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

896,947

185,694,937

Ball

Corp.

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

3,379,095

200,211,379

International

Paper

Co.

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

3,866,929

214,769,237

Packaging

Corp.

of

America

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

993,076

227,354,819

Smurfit

WestRock

plc

(a) ................

5,493,474

282,913,911

1,290,036,913

#### Distributors

#### —

#### 0.1%
Genuine

Parts

Co.

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

1,550,543

177,847,282

LKQ

Corp.

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

2,931,443

107,847,788

Pool

Corp.

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

426,408

154,206,189

439,901,259

#### Diversified

#### Telecommunication

#### Services

#### —

#### 0.7%
AT&T,

Inc.

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

79,826,351

1,799,285,952

Verizon

Communications,

Inc.

...........

46,864,042

1,974,382,089

3,773,668,041

#### Electric

#### Utilities

#### —

#### 1.6%
Alliant

Energy

Corp.

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

2,856,217

171,373,020

American

Electric

Power

Co.,

Inc.

.........

5,923,465

584,942,169

Constellation

Energy

Corp.

(a) ............

3,481,402

915,469,470

Duke

Energy

Corp.

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

8,594,432

990,680,176

Edison

International

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

4,299,062

354,242,709

Entergy

Corp.

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

2,379,856

368,354,112

Evergy

,

Inc.

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

2,560,339

154,746,889

*Security*

*Shares*

*Shares*

*Value*

#### Electric

#### Utilities
(continued)

Eversource

Energy

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

3,978,527

$

261,986,003

Exelon

Corp.

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

11,133,159

437,533,149

FirstEnergy

Corp.

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

5,706,618

238,707,831

NextEra

Energy,

Inc.

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

22,873,041

1,812,688,499

NRG

Energy,

Inc.

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

2,297,756

207,717,142

PG&E

Corp.

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

23,796,303

481,161,247

Pinnacle

West

Capital

Corp.

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

1,264,168

111,006,592

PPL

Corp.

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

8,213,306

267,425,243

Southern

Co.

(The)

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

12,172,912

1,108,100,179

Xcel

Energy,

Inc.

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

6,206,043

414,625,733

8,880,760,163

#### Electrical

#### Equipment

#### —

#### 0.8%
AMETEK,

Inc.

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

2,577,988

472,648,320

Eaton

Corp.

plc

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

4,431,751

1,469,479,997

Emerson

Electric

Co.

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

6,375,281

690,251,674

GE

Vernova

,

Inc.

(a)(b) ..................

3,058,862

922,736,311

Generac

Holdings,

Inc.

(a)(b) ..............

670,247

110,959,391

Hubbell,

Inc.

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

597,982

255,356,253

Rockwell

Automation,

Inc.

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

1,263,209

336,910,472

4,258,342,418

#### Electronic

#### Equipment,

#### Instruments

#### &

#### Components

#### —

#### 0.6%
Amphenol

Corp.

,

Class

A

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

13,407,917

898,598,597

CDW

Corp.

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

1,487,229

279,941,115

Corning,

Inc.

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

8,573,748

408,024,667

Jabil,

Inc.

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

1,262,979

155,460,085

Keysight

Technologies,

Inc.

(a)(b) ...........

1,942,894

289,510,635

TE

Connectivity

plc

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

3,372,780

497,215,228

Teledyne

Technologies,

Inc.

(b) ............

521,286

237,351,941

Trimble,

Inc.

(a)(b) .....................

2,718,342

164,459,691

Zebra

Technologies

Corp.

,

Class

A

(b) .......

573,541

219,075,456

3,149,637,415

#### Energy

#### Equipment

#### &

#### Services

#### —

#### 0.2%
Baker

Hughes

Co.

,

Class

A

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

11,059,810

421,157,565

Halliburton

Co.

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

9,828,938

272,654,740

Schlumberger

NV

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

15,808,801

633,458,656

1,327,270,961

#### Entertainment

#### —

#### 1.2%
Electronic

Arts,

Inc.

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

2,676,475

403,746,254

Live

Nation

Entertainment,

Inc.

(a)(b) ........

1,744,211

204,316,876

Netflix,

Inc.

(a)(b) ......................

4,778,375

3,612,594,851

Take-Two

Interactive

Software,

Inc.

(a)(b) .....

1,814,348

293,416,359

Walt

Disney

Co.

(The)

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

20,191,102

1,942,384,012

Warner

Bros

Discovery,

Inc.

(a)(b) ..........

24,839,698

201,946,745

6,658,405,097

#### Financial

#### Services

#### —

#### 4.2%
Berkshire

Hathaway,

Inc.

,

Class

B

(a)(b) ......

20,392,688

9,195,470,873

Corpay

,

Inc.

(a)(b) .....................

772,987

254,869,274

Fidelity

National

Information

Services,

Inc.

...

6,073,229

544,950,838

Fiserv,

Inc.

(a)(b) ......................

6,409,213

1,268,383,253

Global

Payments,

Inc.

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

2,832,172

293,724,558

Jack

Henry

&

Associates,

Inc.

...........

811,528

147,641,289

Mastercard,

Inc.

,

Class

A

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

9,185,874

4,589,170,792

PayPal

Holdings,

Inc.

(a)(b) ...............

11,381,566

902,558,184

Visa,

Inc.

,

Class

A

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

18,596,957

5,390,327,986

22,587,097,047

#### Food

#### Products

#### —

#### 0.7%
Archer-Daniels-Midland

Co.

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

5,323,724

293,922,802

Bunge

Global

SA

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

1,577,403

132,533,400

Campbell

Soup

Co.

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

2,193,111

102,308,628

Conagra

Brands,

Inc.

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

5,333,192

154,342,576

General

Mills,

Inc.

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

6,197,000

421,519,940

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Core

#### S&P

#### 500

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Food

#### Products
(continued)

Hershey

Co.

(The)

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

1,643,648

$

291,879,012

Hormel

Foods

Corp.

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

3,235,702

98,850,696

J

M

Smucker

Co.

(The)

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

1,185,083

134,518,771

Kellanova

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

2,987,401

240,933,891

Kraft

Heinz

Co.

(The)

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

9,826,838

328,806,000

Lamb

Weston

Holdings,

Inc.

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

1,599,662

124,277,741

McCormick

&

Co.,

Inc.

(Non-Voting)

,

NVS

...

2,805,722

219,519,689

Mondelez

International,

Inc.

,

Class

A

.......

14,871,060

1,018,370,189

Tyson

Foods,

Inc.

,

Class

A

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

3,182,124

186,440,645

3,748,223,980

#### Gas

#### Utilities

#### —

#### 0.0%
Atmos

Energy

Corp.

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

1,728,586

239,893,165

#### Ground

#### Transportation

#### —

#### 1.0%
CSX

Corp.

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

21,584,528

726,103,522

JB

Hunt

Transport

Services,

Inc.

.........

897,476

162,102,115

Norfolk

Southern

Corp.

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

2,517,678

630,502,101

Old

Dominion

Freight

Line,

Inc.

..........

2,098,877

422,545,918

Uber

Technologies,

Inc.

(a)(b) .............

23,389,171

1,685,189,771

Union

Pacific

Corp.

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

6,782,287

1,573,965,344

5,200,408,771

#### Health

#### Care

#### Equipment

#### &

#### Supplies

#### —

#### 2.3%
Abbott

Laboratories

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

19,370,142

2,195,992,999

Align

Technology,

Inc.

(b) ................

780,999

160,128,225

Baxter

International,

Inc.

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

5,679,136

202,745,155

Becton

Dickinson

&

Co.

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

3,218,245

751,749,850

Boston

Scientific

Corp.

(a)(b) ..............

16,394,443

1,377,461,101

Cooper

Cos.,

Inc.

(The)

(a)(b) .............

2,217,274

232,104,242

Dexcom,

Inc.

(a)(b) ....................

4,461,532

314,448,775

Edwards

Lifesciences

Corp.

(b) ...........

6,706,623

449,410,807

GE

HealthCare

Technologies,

Inc.

(a) .......

5,082,329

443,941,438

Hologic,

Inc.

(a)(b) .....................

2,585,518

209,090,841

IDEXX

Laboratories,

Inc.

(b) ..............

916,776

373,054,490

Insulet

Corp.

(a)(b) .....................

779,954

180,582,750

Intuitive

Surgical,

Inc.

(b) ................

3,949,541

1,989,936,737

Medtronic

plc

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

14,279,307

1,274,428,150

ResMed,

Inc.

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

1,636,055

396,694,256

Solventum

Corp.

(a)(b) ..................

1,538,704

111,679,136

STERIS

plc

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

1,097,465

243,472,610

Stryker

Corp.

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

3,817,603

1,360,135,597

Teleflex,

Inc.

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

524,758

105,507,843

Zimmer

Biomet

Holdings,

Inc.

...........

2,266,777

242,363,797

12,614,928,799

#### Health

#### Care

#### Providers

#### &

#### Services

#### —

#### 2.3%
Cardinal

Health,

Inc.

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

2,714,557

294,583,726

Cencora

,

Inc.

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

1,941,936

442,916,763

Centene

Corp.

(b) ....................

5,856,522

364,627,060

Cigna

Group

(The)

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

3,111,945

979,671,405

CVS

Health

Corp.

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

14,004,655

790,702,821

DaVita,

Inc.

(a)(b) .....................

513,429

71,782,508

Elevance

Health,

Inc.

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

2,581,493

1,047,466,600

HCA

Healthcare,

Inc.

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

2,068,963

742,219,786

Henry

Schein,

Inc.

(a)(b) .................

1,410,835

99,082,942

Humana,

Inc.

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

1,340,302

345,570,065

Labcorp

Holdings,

Inc.

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

935,249

213,489,289

McKesson

Corp.

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

1,444,183

722,943,568

Molina

Healthcare,

Inc.

(b) ...............

652,858

209,711,047

Quest

Diagnostics,

Inc.

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

1,239,595

191,926,494

UnitedHealth

Group,

Inc.

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

10,280,848

5,803,538,696

Universal

Health

Services,

Inc.

,

Class

B

....

661,848

135,222,165

12,455,454,935

*Security*

*Shares*

*Shares*

*Value*

#### Health

#### Care

#### REITs

#### —

#### 0.3%
Alexandria

Real

Estate

Equities,

Inc.

.......

1,733,290

$

193,348,499

Healthpeak

Properties,

Inc.

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

7,835,454

175,905,942

Ventas,

Inc.

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

4,599,477

301,219,749

Welltower,

Inc.

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

6,442,670

868,987,330

1,539,461,520

#### Hotel

#### &

#### Resort

#### REITs

#### —

#### 0.0%
Host

Hotels

&

Resorts,

Inc.

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

7,820,121

134,818,886

#### Hotels,

#### Restaurants

#### &

#### Leisure

#### —

#### 2.0%
Airbnb,

Inc.

,

Class

A

(a)(b) ................

4,898,546

660,275,015

Booking

Holdings,

Inc.

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

373,461

1,746,397,001

Caesars

Entertainment,

Inc.

(a)(b) ..........

2,408,760

96,470,838

Carnival

Corp.

(a)(b) ....................

11,246,786

247,429,292

Chipotle

Mexican

Grill,

Inc.

(a)(b) ...........

15,246,127

850,276,503

Darden

Restaurants,

Inc.

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

1,318,898

211,050,058

Domino's

Pizza,

Inc.

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

389,765

161,257,473

Expedia

Group,

Inc.

(a)(b) ................

1,388,243

216,996,263

Hilton

Worldwide

Holdings,

Inc.

..........

2,744,014

644,431,688

Las

Vegas

Sands

Corp.

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

3,935,410

204,051,009

Marriott

International,

Inc.

,

Class

A

........

2,601,228

676,371,305

McDonald's

Corp.

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

7,986,272

2,332,869,914

MGM

Resorts

International

(b) ............

2,569,655

94,743,180

Norwegian

Cruise

Line

Holdings

Ltd.

(a)(b) ....

4,895,303

124,046,978

Royal

Caribbean

Cruises

Ltd.

(a) ..........

2,636,592

544,060,759

Starbucks

Corp.

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

12,616,467

1,232,628,826

Wynn

Resorts

Ltd.

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

1,040,793

99,936,944

Yum!

Brands,

Inc.

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

3,129,990

410,529,488

10,553,822,534

#### Household

#### Durables

#### —

#### 0.4%
DR

Horton,

Inc.

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

3,266,308

552,006,052

Garmin

Ltd.

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

1,712,148

339,604,556

Lennar

Corp.

,

Class

A

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

2,691,171

458,306,421

Mohawk

Industries,

Inc.

(a)(b) .............

583,296

78,319,154

NVR,

Inc.

(b) ........................

34,472

315,515,666

PulteGroup,

Inc.

(a) ...................

2,310,879

299,328,157

2,043,080,006

#### Household

#### Products

#### —

#### 1.1%
Church

&

Dwight

Co.,

Inc.

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

2,726,010

272,355,659

Clorox

Co.

(The)

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

1,378,625

218,580,994

Colgate-Palmolive

Co.

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

9,096,828

852,463,752

Kimberly-Clark

Corp.

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

3,749,584

503,119,181

Procter

&

Gamble

Co.

(The)

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

26,207,546

4,328,962,448

6,175,482,034

#### Independent

#### Power

#### and

#### Renewable

#### Electricity

#### Producers

#### —

#### 0.1%
AES

Corp.

(The)

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

7,914,560

130,511,095

Vistra

Corp.

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

3,824,821

477,949,632

608,460,727

#### Industrial

#### Conglomerates

#### —

#### 0.4%
3M

Co.

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

6,116,456

785,781,102

Honeywell

International,

Inc.

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

7,249,979

1,491,175,681

2,276,956,783

#### Industrial

#### REITs

#### —

#### 0.2%
Prologis,

Inc.

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

10,308,039

1,164,189,925

#### Insurance

#### —

#### 2.1%
Aflac,

Inc.

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

5,611,520

588,031,181

Allstate

Corp.

(The)

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

2,939,485

548,272,742

American

International

Group,

Inc.

........

7,169,758

544,041,237

Aon

plc

,

Class

A

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

2,418,043

887,107,435

Arch

Capital

Group

Ltd.

(a)(b) .............

4,169,283

410,924,532

Arthur

J

Gallagher

&

Co.

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

2,438,611

685,737,413

Assurant,

Inc.

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

577,101

110,630,262

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Core

#### S&P

#### 500

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Insurance
(continued)

Brown

&

Brown,

Inc.

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

2,636,114

$

275,842,969

Chubb

Ltd.

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

4,182,214

1,181,224,522

Cincinnati

Financial

Corp.

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

1,738,942

244,895,202

Erie

Indemnity

Co.

,

Class

A,

NVS

.........

278,000

124,777,520

Everest

Group

Ltd.

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

482,296

171,509,281

Globe

Life,

Inc.

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

999,907

105,590,179

Hartford

Financial

Services

Group,

Inc.

(The)

.

3,261,907

360,245,009

Loews

Corp.

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

2,028,887

160,200,917

Marsh

&

McLennan

Cos.,

Inc.

...........

5,475,240

1,194,916,378

MetLife,

Inc.

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

6,549,757

513,631,944

Principal

Financial

Group,

Inc.

...........

2,372,162

195,466,149

Progressive

Corp.

(The)

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

6,520,195

1,583,298,952

Prudential

Financial,

Inc.

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

3,974,512

486,798,230

Travelers

Cos.,

Inc.

(The)

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

2,538,008

624,197,688

Willis

Towers

Watson

plc

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

1,130,646

341,669,915

WR

Berkley

Corp.

(a) ..................

3,347,495

191,376,289

11,530,385,946

#### Interactive

#### Media

#### &

#### Services

#### —

#### 6.4%
Alphabet,

Inc.

,

Class

A

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

65,228,052

11,161,171,978

Alphabet,

Inc.

,

Class

C,

NVS

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

53,472,722

9,234,204,362

Match

Group,

Inc.

(a)(b) .................

2,870,620

103,428,438

Meta

Platforms,

Inc.

,

Class

A

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

24,322,636

13,805,041,741

34,303,846,519

#### IT

#### Services

#### —

#### 1.1%
Accenture

plc

,

Class

A

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

6,973,294

2,404,531,237

Akamai

Technologies,

Inc.

(a)(b) ............

1,687,542

170,576,746

Cognizant

Technology

Solutions

Corp.

,

Class

A

5,518,317

411,611,265

EPAM

Systems,

Inc.

(b) .................

634,302

119,661,072

Gartner,

Inc.

(a)(b) .....................

858,489

431,390,723

GoDaddy,

Inc.

,

Class

A

(a)(b) ..............

1,568,995

261,708,366

International

Business

Machines

Corp.

.....

10,254,789

2,119,869,982

VeriSign,

Inc.

(b) .....................

934,967

165,339,564

6,084,688,955

#### Leisure

#### Products

#### —

#### 0.0%
Hasbro,

Inc.

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

1,458,279

95,706,851

#### Life

#### Sciences

#### Tools

#### &

#### Services

#### —

#### 1.1%
Agilent

Technologies,

Inc.

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

3,247,647

423,200,881

Bio-Techne

Corp.

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

1,754,161

129,369,374

Charles

River

Laboratories

International,

Inc.

(a)(b) 575,411

102,756,896

Danaher

Corp.

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

7,156,244

1,758,002,901

IQVIA

Holdings,

Inc.

(a)(b) ................

1,927,581

396,734,721

Mettler-Toledo

International,

Inc.

(a)(b) .......

236,789

305,872,191

Revvity

,

Inc.

(a) ......................

1,373,295

162,859,054

Thermo

Fisher

Scientific,

Inc.

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

4,253,075

2,323,539,934

Waters

Corp.

(a)(b) ....................

660,805

213,512,704

West

Pharmaceutical

Services,

Inc.

.......

807,795

248,744,314

6,064,592,970

#### Machinery

#### —

#### 1.7%
Caterpillar,

Inc.

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

5,398,950

2,031,084,990

Cummins,

Inc.

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

1,525,822

501,964,921

Deere

&

Co.

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

2,852,586

1,154,413,028

Dover

Corp.

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

1,529,953

289,666,001

Fortive

Corp.

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

3,900,308

278,599,000

IDEX

Corp.

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

843,145

180,972,643

Illinois

Tool

Works,

Inc.

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

3,008,411

785,586,364

Ingersoll

Rand,

Inc.

(a) .................

4,491,476

431,181,696

Nordson

Corp.

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

605,538

150,106,815

Otis

Worldwide

Corp.

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

4,459,738

437,946,272

PACCAR,

Inc.

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

5,836,475

608,627,613

Parker-Hannifin

Corp.

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

1,431,143

907,444,842

Pentair

plc

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

1,842,791

182,657,444

Snap-on,

Inc.

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

586,382

193,582,290

*Security*

*Shares*

*Shares*

*Value*

#### Machinery
(continued)

Stanley

Black

&

Decker,

Inc.

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

1,714,107

$

159,309,105

Westinghouse

Air

Brake

Technologies

Corp.

..

1,950,948

366,739,205

Xylem,

Inc.

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

2,704,774

329,387,378

8,989,269,607

#### Media

#### —

#### 0.6%
Charter

Communications,

Inc.

,

Class

A

(a)(b) ...

1,080,076

353,843,698

Comcast

Corp.

,

Class

A

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

43,007,765

1,878,149,097

Fox

Corp.

,

Class

A,

NVS

(a) ..............

2,501,364

105,057,288

Fox

Corp.

,

Class

B

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

1,468,678

57,219,695

Interpublic

Group

of

Cos.,

Inc.

(The)

.......

4,181,509

122,936,365

News

Corp.

,

Class

A,

NVS

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

4,212,562

114,792,314

News

Corp.

,

Class

B

(a) ................

1,254,813

36,439,770

Omnicom

Group,

Inc.

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

2,178,691

220,047,791

Paramount

Global

,

Class

B,

NVS

.........

6,620,333

72,426,443

2,960,912,461

#### Metals

#### &

#### Mining

#### —

#### 0.4%
Freeport-McMoRan,

Inc.

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

15,996,512

720,162,970

Newmont

Corp.

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

12,774,252

580,462,011

Nucor

Corp.

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

2,641,927

374,730,926

Steel

Dynamics,

Inc.

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

1,597,897

208,525,558

1,883,881,465

#### Multi-Utilities

#### —

#### 0.7%
Ameren

Corp.

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

2,970,965

258,800,761

CenterPoint

Energy,

Inc.

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

7,255,413

214,252,346

CMS

Energy

Corp.

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

3,326,422

231,552,235

Consolidated

Edison,

Inc.

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

3,849,728

391,440,343

Dominion

Energy,

Inc.

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

9,340,208

556,022,582

DTE

Energy

Co.

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

2,304,286

286,238,407

NiSource,

Inc.

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

4,993,236

175,562,178

Public

Service

Enterprise

Group,

Inc.

......

5,545,478

495,821,188

Sempra

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

7,048,583

587,640,365

WEC

Energy

Group,

Inc.

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

3,519,285

336,197,296

3,533,527,701

#### Office

#### REITs

#### —

#### 0.0%
BXP,

Inc.

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

1,617,835

130,332,788

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### —

#### 3.1%
APA

Corp.

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

4,118,779

97,203,184

Chevron

Corp.

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

18,935,952

2,818,048,377

ConocoPhillips

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

12,927,927

1,416,125,124

Coterra

Energy,

Inc.

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

8,230,486

196,873,225

Devon

Energy

Corp.

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

6,971,376

269,652,824

Diamondback

Energy,

Inc.

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

2,085,496

368,653,128

EOG

Resources,

Inc.

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

6,330,283

772,041,315

EQT

Corp.

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

6,613,362

241,652,247

Exxon

Mobil

Corp.

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

49,461,547

5,776,119,459

Hess

Corp.

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

3,076,559

413,735,654

Kinder

Morgan,

Inc.

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

21,497,001

526,891,494

Marathon

Oil

Corp.

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

6,228,200

172,521,140

Marathon

Petroleum

Corp.

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

3,726,283

542,062,388

Occidental

Petroleum

Corp.

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

7,496,380

375,643,602

ONEOK,

Inc.

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

6,502,244

629,937,399

Phillips

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

4,659,525

567,623,335

Targa

Resources

Corp.

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

2,438,403

407,115,765

Valero

Energy

Corp.

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

3,566,378

462,773,209

Williams

Cos.,

Inc.

(The)

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

13,570,008

710,661,319

16,765,334,188

#### Passenger

#### Airlines

#### —

#### 0.2%
Delta

Air

Lines,

Inc.

(a) .................

7,139,236

408,507,084

Southwest

Airlines

Co.

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

6,670,418

203,981,383

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Core

#### S&P

#### 500

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Passenger

#### Airlines
(continued)

United

Airlines

Holdings,

Inc.

(a)(b) ..........

3,660,505

$

286,471,121

898,959,588

#### Personal

#### Care

#### Products

#### —

#### 0.1%
Estee

Lauder

Cos.,

Inc.

(The)

,

Class

A

.....

2,594,677

178,877,033

Kenvue

,

Inc.

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

21,321,997

488,913,391

667,790,424

#### Pharmaceuticals

#### —

#### 3.5%
Bristol-Myers

Squibb

Co.

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

22,570,947

1,258,781,714

Catalent,

Inc.

(b) .....................

2,014,980

118,077,828

Eli

Lilly

&

Co.

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

8,782,118

7,286,874,589

Johnson

&

Johnson

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

26,799,247

4,284,127,625

Merck

&

Co.,

Inc.

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

28,220,212

2,887,492,092

Pfizer,

Inc.

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

63,086,619

1,785,351,318

Viatris

,

Inc.

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

13,287,118

154,130,569

Zoetis,

Inc.

,

Class

A

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

5,044,170

901,796,713

18,676,632,448

#### Professional

#### Services

#### —

#### 0.7%
Amentum

Holdings,

Inc.

(a)(b) .............

1,389,538

41,324,860

Automatic

Data

Processing,

Inc.

..........

4,540,012

1,313,153,071

Broadridge

Financial

Solutions,

Inc.

.......

1,299,404

273,992,328

Dayforce,

Inc.

(a)(b) ....................

1,759,532

124,838,795

Equifax,

Inc.

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

1,377,456

365,053,389

Jacobs

Solutions,

Inc.

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

1,389,538

195,341,252

Leidos

Holdings,

Inc.

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

1,500,290

274,793,116

Paychex,

Inc.

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

3,567,766

497,096,837

Paycom

Software,

Inc.

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

542,078

113,310,564

Verisk

Analytics,

Inc.

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

1,585,319

435,518,836

3,634,423,048

#### Real

#### Estate

#### Management

#### &

#### Development

#### —

#### 0.1%

#### (a)(b)
CBRE

Group,

Inc.

,

Class

A

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

3,353,354

439,188,773

CoStar

Group,

Inc.

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

4,562,291

332,089,162

771,277,935

#### Residential

#### REITs

#### —

#### 0.3%
AvalonBay

Communities,

Inc.

...........

1,581,335

350,439,650

Camden

Property

Trust

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

1,187,190

137,464,730

Equity

Residential

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

3,798,925

267,330,352

Essex

Property

Trust,

Inc.

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

714,941

202,943,152

Invitation

Homes,

Inc.

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

6,343,077

199,236,049

Mid-America

Apartment

Communities,

Inc.

...

1,301,145

196,915,284

UDR,

Inc.

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

3,340,990

140,956,368

1,495,285,585

#### Retail

#### REITs

#### —

#### 0.3%
Federal

Realty

Investment

Trust

..........

837,720

92,852,885

Kimco

Realty

Corp.

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

7,504,424

178,004,937

Realty

Income

Corp.

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

9,695,853

575,642,792

Regency

Centers

Corp.

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

1,819,170

129,961,505

Simon

Property

Group,

Inc.

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

3,411,806

577,004,631

1,553,466,750

#### Semiconductors

#### &

#### Semiconductor

#### Equipment

#### —

#### 11.5%
Advanced

Micro

Devices,

Inc.

(a)(b) .........

18,018,084

2,595,865,362

Analog

Devices,

Inc.

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

5,524,147

1,232,492,437

Applied

Materials,

Inc.

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

9,217,530

1,673,719,097

Broadcom,

Inc.

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

51,823,422

8,798,062,353

Enphase

Energy,

Inc.

(a)(b) ...............

1,507,673

125,197,166

First

Solar,

Inc.

(a)(b) ...................

1,191,486

231,720,197

Intel

Corp.

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

47,504,028

1,022,286,683

KLA

Corp.

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

1,495,938

996,638,774

Lam

Research

Corp.

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

14,504,050

1,078,376,117

Microchip

Technology,

Inc.

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

5,972,917

438,232,920

Micron

Technology,

Inc.

(a) ..............

12,344,402

1,230,119,659

*Security*

*Shares*

*Shares*

*Value*

#### Semiconductors

#### &

#### Semiconductor

#### Equipment
(continued)

Monolithic

Power

Systems,

Inc.

(a) .........

543,002

$

412,301,419

NVIDIA

Corp.

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

273,871,488

36,359,178,747

NXP

Semiconductors

NV

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

2,836,597

665,181,997

ON

Semiconductor

Corp.

(a)(b) ............

4,768,746

336,148,906

Qorvo,

Inc.

(a)(b) ......................

1,056,055

75,254,479

QUALCOMM,

Inc.

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

12,401,781

2,018,637,893

Skyworks

Solutions,

Inc.

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

1,777,577

155,680,194

Teradyne,

Inc.

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

1,816,045

192,882,139

Texas

Instruments,

Inc.

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

10,165,526

2,065,228,262

61,703,204,801

#### Software

#### —

#### 10.1%
Adobe,

Inc.

(b) .......................

4,936,368

2,359,978,813

ANSYS,

Inc.

(b) ......................

973,341

311,868,190

Autodesk,

Inc.

(b) .....................

2,398,131

680,589,578

Cadence

Design

Systems,

Inc.

(b) .........

3,048,767

841,825,544

Crowdstrike

Holdings,

Inc.

,

Class

A

(a)(b) .....

2,569,840

762,908,401

Fair

Isaac

Corp.

(b) ....................

272,251

542,626,191

Fortinet,

Inc.

(b) ......................

7,067,793

555,952,597

Gen

Digital,

Inc.

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

6,030,276

175,541,334

Intuit,

Inc.

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

3,111,924

1,899,207,217

Microsoft

Corp.

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

82,751,638

33,626,128,101

Oracle

Corp.

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

17,794,332

2,986,600,683

Palantir

Technologies,

Inc.

,

Class

A

(a)(b) .....

22,419,459

931,752,716

Palo

Alto

Networks,

Inc.

(a)(b) .............

3,604,430

1,298,784,262

PTC,

Inc.

(a)(b) .......................

1,337,517

247,882,026

Roper

Technologies,

Inc.

(a) ..............

1,192,927

641,472,636

Salesforce,

Inc.

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

10,788,405

3,143,417,565

ServiceNow,

Inc.

(a)(b) ..................

2,293,794

2,140,086,864

Synopsys,

Inc.

(b) ....................

1,706,359

876,403,046

Tyler

Technologies,

Inc.

(b) ..............

474,836

287,555,933

54,310,581,697

#### Specialized

#### REITs

#### —

#### 1.0%
American

Tower

Corp.

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

5,200,035

1,110,415,474

Crown

Castle,

Inc.

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

4,838,289

520,067,685

Digital

Realty

Trust,

Inc.

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

3,426,487

610,702,778

Equinix,

Inc.

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

1,056,931

959,777,902

Extra

Space

Storage,

Inc.

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

2,359,057

385,234,008

Iron

Mountain,

Inc.

(a) ..................

3,265,265

404,011,238

Public

Storage

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

1,753,589

577,035,996

SBA

Communications

Corp.

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

1,197,112

274,701,291

VICI

Properties,

Inc.

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

11,658,502

370,274,024

Weyerhaeuser

Co.

(a) ..................

8,097,567

252,320,188

5,464,540,584

#### Specialty

#### Retail

#### —

#### 1.9%
AutoZone,

Inc.

(b) ....................

190,078

571,944,702

Best

Buy

Co.,

Inc.

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

2,185,478

197,632,776

CarMax,

Inc.

(a)(b) .....................

1,737,263

125,743,096

Home

Depot,

Inc.

(The)

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

11,039,742

4,346,898,412

Lowe's

Cos.,

Inc.

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

6,344,356

1,661,142,731

O'Reilly

Automotive,

Inc.

(b) ..............

645,471

744,318,429

Ross

Stores,

Inc.

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

3,713,525

518,853,713

TJX

Cos.,

Inc.

(The)

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

12,582,264

1,422,173,300

Tractor

Supply

Co.

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

1,201,252

318,944,419

Ulta

Beauty,

Inc.

(a)(b) ..................

531,005

195,930,225

10,103,581,803

#### Technology

#### Hardware,

#### Storage

#### &

#### Peripherals

#### —

#### 7.5%
Apple,

Inc.

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

169,267,307

38,239,177,324

Dell

Technologies,

Inc.

,

Class

C

..........

3,202,620

395,939,911

Hewlett

Packard

Enterprise

Co.

..........

14,469,281

282,006,287

HP,

Inc.

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

10,894,066

386,957,224

NetApp,

Inc.

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

2,287,919

263,819,940

Seagate

Technology

Holdings

plc

.........

2,337,633

234,628,224

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Core

#### S&P

#### 500

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Technology

#### Hardware,

#### Storage

#### &

#### Peripherals
(continued)

Super

Micro

Computer,

Inc.

(a)(b) ...........

5,579,960

$

162,432,636

Western

Digital

Corp.

(b) ................

3,635,233

237,417,067

40,202,378,613

#### Textiles,

#### Apparel

#### &

#### Luxury

#### Goods

#### —

#### 0.4%
Deckers

Outdoor

Corp.

(b) ...............

1,697,313

273,080,688

Lululemon

Athletica,

Inc.

(a)(b) .............

1,280,408

381,433,543

NIKE,

Inc.

,

Class

B

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

13,375,905

1,031,683,553

Ralph

Lauren

Corp.

,

Class

A

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

446,372

88,350,410

Tapestry,

Inc.

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

2,562,937

121,611,361

1,896,159,555

#### Tobacco

#### —

#### 0.6%
Altria

Group,

Inc.

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

18,995,127

1,034,474,616

Philip

Morris

International,

Inc.

...........

17,310,008

2,297,038,062

3,331,512,678

#### Trading

#### Companies

#### &

#### Distributors

#### —

#### 0.3%
Fastenal

Co.

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

6,374,718

498,375,453

United

Rentals,

Inc.

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

740,953

602,246,599

WW

Grainger,

Inc.

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

494,369

548,368,926

1,648,990,978

#### Water

#### Utilities

#### —

#### 0.1%
American

Water

Works

Co.,

Inc.

..........

2,169,157

299,582,273

#### Wireless

#### Telecommunication

#### Services

#### —

#### 0.2%
T-Mobile

US,

Inc.

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

5,456,248

1,217,616,304

#### Total

#### Long-Term

#### Investments

#### —

#### 99.7%

#### (Cost:

#### $458,235,774,641)
...........................

537,006,498,891

*Security*

*Shares*

*Shares*

*Value*

#### Short-Term

#### Securities

#### Money

#### Market

#### Funds

#### —

#### 0.7%

#### (c)(d)
BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares,

5.01%

(e) ..................

2,326,759,024

$

2,328,387,754

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares,

4.83%

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

1,104,755,421

1,104,755,421

#### Total

#### Short-Term

#### Securities

#### —

#### 0.7%

#### (Cost:

#### $3,431,058,199)
............................

3,433,143,175

#### Total

#### Investments

#### —

#### 100.4%

#### (Cost:

#### $461,666,832,840)

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

540,439,642,066

#### Liabilities

#### in

#### Excess

#### of

#### Other

#### Assets

#### —

#### (0.4)%
.............

(2,007,046,316)

#### Net

#### Assets

#### —

#### 100.0%
...............................

$

538,432,595,750

(a) All

or

a

portion

of

this

security

is

on

loan.

(b) Non-income

producing

security.

(c) Affiliate

of

the

Fund.

(d) Annualized

7-day

yield

as

of

period

end.

(e) All

or

a

portion

of

this

security

was

purchased

with

the

cash

collateral

from

loaned

securities.

#### Derivative

#### Financial

#### Instruments

#### Outstanding

#### as

#### of

#### Period

#### End

#### Futures

#### Contracts
*Description*

*Number* 

*of*

*Contracts*

*Expiration*

*Date*

*Notional*

*Amount* 

(000) *Value/*

*Unrealized*

*Appreciation*

(Depreciation)

Long

Contracts

S&P

500

E-Mini

Index

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

4,889

12/20/24

$

1,402,776

$

9,643,343

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Core

#### S&P

#### 500

#### ETF

#### Fair

#### Value

#### Hierarchy

#### as

#### of Period

#### End
Various

inputs

are

used

in

determining

the

fair

value

of

financial

instruments

at

the

measurement

date.

For

a

description

of

the

input

levels

and

information

about

the

Fund's

policy

regarding

valuation

of

financial

instruments,

refer

to

the

Notes

to

Financial

Statements.

The

following

table

summarizes

the

Fund's

financial

instruments

categorized

in

the

fair

value

hierarchy.

The

breakdown

of

the

Fund's

financial

instruments

into

major

categories

is

disclosed

in

the

Schedule

of

Investments

above.

*Level* 

*1*

*Level* 

*2*

*Level* 

*3*

*Total*

Assets

Investments

Long-Term

Investments

Common

Stocks

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

$

537,006,498,891

$

—

$

—

$

537,006,498,891

Short-Term

Securities

Money

Market

Funds

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

3,433,143,175

—

—

3,433,143,175

$

540,439,642,066

$

—

$

—

$

540,439,642,066

Derivative

Financial

Instruments

(a) Assets

Equity

contracts

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

$

9,643,343

$

—

$

—

$

9,643,343

(a) Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

Schedule

of

Investments

(unaudited)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Common

#### Stocks

#### Aerospace

#### &

#### Defense

#### —

#### 1.2%
AAR

Corp.

(a) .......................

889,348

$

52,204,728

AeroVironment,

Inc.

(a)(b) ................

672,207

144,497,617

AerSale

Corp.

(a)(b) ....................

862,159

4,543,578

Archer

Aviation,

Inc.

,

Class

A

(a)(b) ..........

6,067,247

19,111,828

Astronics

Corp.

(a) ....................

743,568

12,930,648

Byrna

Technologies,

Inc.

(a)(b) .............

436,789

6,294,129

Cadre

Holdings,

Inc.

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

669,706

23,285,678

Ducommun,

Inc.

(a) ...................

358,108

21,053,169

Eve

Holding,

Inc.

(a)(b) ..................

582,771

1,794,935

Intuitive

Machines,

Inc.

,

Class

A

(a)(b) ........

732,804

5,715,871

Kratos

Defense

&

Security

Solutions,

Inc.

(a)(b) .

3,810,256

86,569,016

Leonardo

DRS,

Inc.

(a)(b) ................

1,888,591

56,789,931

Mercury

Systems,

Inc.

(a)(b) ..............

1,416,880

45,836,068

Moog,

Inc.

,

Class

A

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

738,363

139,255,262

National

Presto

Industries,

Inc.

...........

130,368

9,377,370

Park

Aerospace

Corp.

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

467,529

6,325,667

Redwire

Corp.

(a)(b) ....................

601,887

4,628,511

Rocket

Lab

USA,

Inc.

(a)(b) ...............

8,942,157

95,681,080

Triumph

Group,

Inc.

(a)(b) ................

1,893,676

26,208,476

V2X,

Inc.

(a) ........................

315,147

19,413,055

Virgin

Galactic

Holdings,

Inc.

(a)(b) ..........

520,472

3,419,501

VirTra

,

Inc.

(a)(b) ......................

291,062

1,775,478

786,711,596

#### Air

#### Freight

#### &

#### Logistics

#### —

#### 0.2%
Air

Transport

Services

Group,

Inc.

(a)(b) ......

1,321,190

22,777,316

Forward

Air

Corp.

(b) ..................

641,413

22,661,121

Hub

Group,

Inc.

,

Class

A

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

1,578,815

68,504,783

Radiant

Logistics,

Inc.

(a)(b) ..............

879,626

5,849,513

119,792,733

#### Automobile

#### Components

#### —

#### 1.1%
Adient

plc

(a)(b) .......................

2,360,447

46,099,530

American

Axle

&

Manufacturing

Holdings,

Inc.

(a) (b) ............................

3,005,612

16,981,708

Cooper-Standard

Holdings,

Inc.

(a)(b) ........

415,616

5,215,981

Dana,

Inc.

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

3,414,046

26,185,733

Dorman

Products,

Inc.

(a) ...............

671,776

76,602,617

Fox

Factory

Holding

Corp.

(a)(b) ...........

1,087,152

39,126,601

Gentherm

,

Inc.

(a) ....................

800,031

33,561,301

Goodyear

Tire

&

Rubber

Co.

(The)

(a)(b) ......

7,328,712

58,702,983

Holley,

Inc.

(a)(b) ......................

1,125,410

2,914,812

LCI

Industries

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

638,276

71,027,353

Luminar

Technologies,

Inc.

,

Class

A

(a)(b) .....

8,552,417

6,631,544

Modine

Manufacturing

Co.

(a)(b) ...........

1,333,267

157,018,855

Patrick

Industries,

Inc.

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

561,501

70,737,896

Phinia

,

Inc.

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

1,115,466

51,958,406

Solid

Power,

Inc.

,

Class

A

(a)(b) ............

3,981,885

4,698,624

Standard

Motor

Products,

Inc.

...........

522,565

16,821,367

Stoneridge,

Inc.

(a) ....................

684,784

4,786,640

Visteon

Corp.

(a) .....................

700,592

63,228,428

XPEL,

Inc.

(a)(b)(c)

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

645,516

24,897,552

777,197,931

#### Automobiles

#### —

#### 0.1%
Canoo

,

Inc.

,

Class

A

(a)(b) ...............

1,493,243

1,130,385

Livewire

Group,

Inc.

(a)(b) ................

400,662

2,367,913

Winnebago

Industries,

Inc.

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

736,255

41,259,730

44,758,028

#### Banks

#### —

#### 10.3%
1st

Source

Corp.

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

520,198

30,811,328

ACNB

Corp.

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

227,772

9,566,424

Amalgamated

Financial

Corp.

...........

549,838

18,235,377

Amerant

Bancorp,

Inc.

,

Class

A

..........

843,398

17,981,245

*Security*

*Shares*

*Shares*

*Value*

#### Banks
(continued)

Ameris

Bancorp

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

1,714,393

$

106,275,222

Ames

National

Corp.

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

256,954

4,366,933

Arrow

Financial

Corp.

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

456,673

13,033,447

Associated

Banc-Corp.

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

3,886,883

92,274,602

Atlantic

Union

Bankshares

Corp.

.........

2,207,489

83,443,084

Axos

Financial

,

Inc.

(a)(b) ................

1,418,248

96,043,755

Banc

of

California,

Inc.

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

3,494,915

53,681,894

BancFirst

Corp.

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

521,832

56,728,357

Bancorp,

Inc.

(The)

(a)(b) ................

1,245,706

62,609,184

Bank

First

Corp.

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

259,812

23,905,302

Bank

of

Hawaii

Corp.

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

945,019

68,258,722

Bank

of

Marin

Bancorp

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

464,609

10,318,966

Bank

of

NT

Butterfield

&

Son

Ltd.

(The)

.....

1,265,415

46,276,227

Bank7

Corp.

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

117,894

4,945,653

BankUnited,

Inc.

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

1,803,885

63,749,296

Bankwell

Financial

Group,

Inc.

...........

183,391

5,228,477

Banner

Corp.

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

819,978

52,511,391

Bar

Harbor

Bankshares

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

463,236

14,893,037

BayCom

Corp.

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

317,855

7,898,697

BCB

Bancorp,

Inc.

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

456,651

5,543,743

Berkshire

Hills

Bancorp,

Inc.

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

955,989

26,031,580

Blue

Foundry

Bancorp

(a)(b) ..............

613,617

6,031,855

Bridgewater

Bancshares,

Inc.

(a)(b) .........

543,252

7,931,479

Brookline

Bancorp,

Inc.

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

2,191,696

24,656,580

Burke

&

Herbert

Financial

Services

Corp.

...

347,154

21,988,734

Business

First

Bancshares,

Inc.

..........

662,452

17,349,618

Byline

Bancorp,

Inc.

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

913,928

24,593,803

Cadence

Bank

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

3,889,500

130,025,985

California

Bancorp

(a)(b) .................

557,476

8,128,000

Camden

National

Corp.

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

437,746

18,363,445

Capital

Bancorp,

Inc.

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

279,778

7,064,395

Capital

City

Bank

Group,

Inc.

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

385,841

13,504,435

Capitol

Federal

Financial,

Inc.

...........

3,225,738

20,789,881

Carter

Bankshares

,

Inc.

(a) ..............

614,075

11,298,980

Cathay

General

Bancorp

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

1,584,800

72,869,104

Central

Pacific

Financial

Corp.

...........

535,366

14,422,760

Chemung

Financial

Corp.

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

109,413

5,227,753

ChoiceOne

Financial

Services,

Inc.

........

219,493

7,280,583

Citizens

&

Northern

Corp.

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

416,628

7,882,602

Citizens

Financial

Services,

Inc.

..........

117,787

6,865,804

City

Holding

Co.

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

373,936

43,600,938

Civista

Bancshares,

Inc.

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

453,439

9,236,552

CNB

Financial

Corp.

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

608,094

15,433,426

Coastal

Financial

Corp.

(a)(b) .............

327,915

20,655,366

Colony

Bankcorp

,

Inc.

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

512,334

7,792,600

Columbia

Financial,

Inc.

(a)(b) .............

746,231

12,745,625

Community

Financial

System,

Inc.

........

1,287,934

78,744,285

Community

Trust

Bancorp,

Inc.

..........

457,043

23,674,827

Community

West

Bancshares

...........

475,638

8,913,456

ConnectOne

Bancorp,

Inc.

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

990,378

24,006,763

CrossFirst

Bankshares

,

Inc.

(a) ............

1,285,280

20,178,896

Customers

Bancorp,

Inc.

(a) ..............

758,149

34,973,413

CVB

Financial

Corp.

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

3,403,417

66,128,392

Dime

Community

Bancshares,

Inc.

........

926,906

27,872,063

Eagle

Bancorp,

Inc.

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

742,154

19,451,856

Eastern

Bankshares

,

Inc.

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

5,002,093

81,684,179

Enterprise

Bancorp,

Inc.

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

280,297

9,000,337

Enterprise

Financial

Services

Corp.

.......

985,104

51,934,683

Equity

Bancshares,

Inc.

,

Class

A

.........

426,548

18,124,025

Esquire

Financial

Holdings,

Inc.

..........

189,734

12,632,490

ESSA

Bancorp,

Inc.

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

220,784

4,155,155

Farmers

&

Merchants

Bancorp,

Inc.

.......

354,879

9,620,770

Farmers

National

Banc

Corp.

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

1,044,154

14,367,559

FB

Financial

Corp.

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

967,864

47,618,909

Fidelity

D&D

Bancorp,

Inc.

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

126,218

6,626,445

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Banks
(continued)

Financial

Institutions,

Inc.

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

435,924

$

10,466,535

First

Bancorp

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

4,792,745

115,661,488

First

Bancorp,

Inc.

(The)

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

298,988

7,743,789

First

Bancshares,

Inc.

(The)

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

831,011

27,813,938

First

Bank

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

624,884

8,848,357

First

Busey

Corp.

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

1,479,632

35,969,854

First

Business

Financial

Services,

Inc.

......

228,144

9,764,563

First

Commonwealth

Financial

Corp.

.......

2,604,546

42,818,736

First

Community

Bankshares

,

Inc.

........

469,216

19,453,695

First

Financial

Bancorp

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

2,389,412

61,121,159

First

Financial

Bankshares

,

Inc.

..........

3,355,230

121,258,012

First

Financial

Corp.

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

353,809

15,199,635

First

Financial

Northwest,

Inc.

...........

193,754

4,359,465

First

Foundation,

Inc.

(b) ................

1,596,406

10,743,812

First

Internet

Bancorp

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

224,030

7,834,329

First

Interstate

BancSystem

,

Inc.

,

Class

A

...

2,102,026

64,742,401

First

Merchants

Corp.

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

1,566,015

58,020,856

First

Mid

Bancshares,

Inc.

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

664,491

25,350,332

First

of

Long

Island

Corp.

(The)

..........

699,436

8,795,408

First

Western

Financial,

Inc.

(a)(b) ..........

223,356

4,245,998

Five

Star

Bancorp

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

476,344

14,328,428

Flagstar

Financial,

Inc.

(b) ...............

6,518,710

65,969,345

Flushing

Financial

Corp.

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

733,205

11,492,988

FS

Bancorp,

Inc.

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

189,065

8,273,484

Fulton

Financial

Corp.

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

4,213,005

76,297,521

FVCBankcorp

,

Inc.

(a)(b) ................

417,356

5,436,062

German

American

Bancorp,

Inc.

..........

809,165

32,763,091

Glacier

Bancorp,

Inc.

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

2,939,207

153,279,645

Great

Southern

Bancorp,

Inc.

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

254,704

14,439,170

Greene

County

Bancorp,

Inc.

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

184,346

5,161,688

Guaranty

Bancshares,

Inc.

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

229,994

7,557,603

Hancock

Whitney

Corp.

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

2,242,158

116,771,589

Hanmi

Financial

Corp.

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

663,653

15,177,744

HarborOne

Bancorp,

Inc.

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

1,080,882

12,830,069

HBT

Financial,

Inc.

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

402,411

8,595,499

Heartland

Financial

USA,

Inc.

...........

1,109,673

66,025,544

Heritage

Commerce

Corp.

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

1,824,477

17,715,672

Heritage

Financial

Corp.

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

870,216

20,006,266

Hilltop

Holdings,

Inc.

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

1,285,279

39,368,096

Hingham

Institution

for

Savings

(The)

(b) .....

43,635

11,062,345

Home

Bancorp,

Inc.

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

208,960

9,852,464

Home

BancShares

,

Inc.

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

4,888,411

133,404,736

HomeStreet

,

Inc.

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

490,007

4,437,013

HomeTrust

Bancshares,

Inc.

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

442,398

14,665,494

Hope

Bancorp,

Inc.

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

3,004,109

37,220,911

Horizon

Bancorp,

Inc.

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

1,233,471

19,760,205

Independent

Bank

Corp.

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

1,635,900

85,703,686

Independent

Bank

Group,

Inc.

...........

934,220

54,521,079

International

Bancshares

Corp.

..........

1,422,635

87,150,620

Investar

Holding

Corp.

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

238,528

4,978,079

John

Marshall

Bancorp,

Inc.

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

316,469

6,753,448

Kearny

Financial

Corp.

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

1,658,703

11,594,334

Lakeland

Financial

Corp.

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

650,903

42,354,258

LCNB

Corp.

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

328,340

5,151,655

LINKBANCORP,

Inc.

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

407,071

2,916,664

Live

Oak

Bancshares,

Inc.

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

897,340

35,633,371

Mercantile

Bank

Corp.

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

474,813

20,350,485

Metrocity

Bankshares

,

Inc.

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

537,928

15,911,910

Metropolitan

Bank

Holding

Corp.

(a)(b) .......

283,154

15,148,739

Mid

Penn

Bancorp,

Inc.

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

435,991

13,772,956

Middlefield

Banc

Corp.

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

183,454

5,180,741

Midland

States

Bancorp,

Inc.

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

523,602

12,990,566

MidWestOne

Financial

Group,

Inc.

........

436,329

12,627,361

MVB

Financial

Corp.

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

305,763

5,806,439

National

Bank

Holdings

Corp.

,

Class

A

.....

881,455

39,630,217

*Security*

*Shares*

*Shares*

*Value*

(continued)

National

Bankshares

,

Inc.

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

163,994

$

4,686,949

NB

Bancorp,

Inc.

(a)(b) ..................

1,134,939

21,438,998

NBT

Bancorp,

Inc.

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

1,158,725

51,540,088

Nicolet

Bankshares

,

Inc.

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

368,441

37,466,765

Northeast

Bank

(b) ....................

196,977

17,503,376

Northeast

Community

Bancorp,

Inc.

.......

371,831

9,652,733

Northfield

Bancorp,

Inc.

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

1,141,503

13,435,490

Northrim

BanCorp

,

Inc.

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

163,249

10,655,262

Northwest

Bancshares,

Inc.

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

3,265,192

43,394,402

Norwood

Financial

Corp.

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

183,958

5,395,488

Oak

Valley

Bancorp

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

190,707

5,149,089

OceanFirst

Financial

Corp.

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

1,524,738

27,750,232

OFG

Bancorp

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

1,167,707

47,023,561

Old

National

Bancorp

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

8,151,579

156,999,412

Old

Second

Bancorp,

Inc.

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

1,275,012

20,935,697

Orange

County

Bancorp,

Inc.

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

140,302

7,424,782

Origin

Bancorp,

Inc.

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

817,961

25,675,796

Orrstown

Financial

Services,

Inc.

.........

556,736

20,844,196

Pacific

Premier

Bancorp,

Inc.

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

2,388,959

60,942,344

Park

National

Corp.

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

378,472

65,392,392

Parke

Bancorp,

Inc.

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

328,326

6,934,245

Pathward

Financial,

Inc.

(b) ..............

637,998

45,144,738

PCB

Bancorp

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

342,342

6,425,759

Peapack-Gladstone

Financial

Corp.

.......

494,796

15,902,743

Peoples

Bancorp

of

North

Carolina,

Inc.

....

133,988

3,450,191

Peoples

Bancorp,

Inc.

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

979,979

30,163,754

Peoples

Financial

Services

Corp.

.........

239,265

11,164,105

Pioneer

Bancorp,

Inc.

(a) ................

297,906

3,336,547

Plumas

Bancorp

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

152,648

6,336,418

Ponce

Financial

Group,

Inc.

(a)(b) ..........

492,924

5,545,395

Preferred

Bank

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

200,051

16,878,303

Premier

Financial

Corp.

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

1,023,378

25,236,501

Primis

Financial

Corp.

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

616,307

6,921,128

Princeton

Bancorp,

Inc.

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

140,672

4,940,401

Provident

Bancorp,

Inc.

(a)(b) .............

320,962

3,328,376

Provident

Financial

Services,

Inc.

.........

2,976,427

55,599,656

QCR

Holdings,

Inc.

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

458,499

36,267,271

RBB

Bancorp

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

527,511

11,710,744

Red

River

Bancshares,

Inc.

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

120,429

6,288,802

Renasant

Corp.

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

1,530,326

52,199,420

Republic

Bancorp,

Inc.

,

Class

A

..........

240,223

16,215,053

S&T

Bancorp,

Inc.

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

956,541

36,329,427

Sandy

Spring

Bancorp,

Inc.

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

1,199,084

40,337,186

Seacoast

Banking

Corp.

of

Florida

........

2,170,778

57,959,773

ServisFirst

Bancshares,

Inc.

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

1,307,085

108,671,047

Shore

Bancshares,

Inc.

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

845,692

12,296,362

Sierra

Bancorp

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

384,619

10,923,180

Simmons

First

National

Corp.

,

Class

A

.....

3,216,179

74,615,353

SmartFinancial

,

Inc.

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

463,632

15,374,037

South

Plains

Financial,

Inc.

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

372,769

12,562,315

Southern

First

Bancshares,

Inc.

(a) .........

205,034

7,834,349

Southern

Missouri

Bancorp,

Inc.

..........

270,766

16,056,424

Southern

States

Bancshares,

Inc.

.........

208,983

6,501,461

Southside

Bancshares,

Inc.

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

766,921

24,848,240

SouthState

Corp.

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

1,970,309

192,164,237

Stellar

Bancorp,

Inc.

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

1,317,628

35,865,834

Sterling

Bancorp,

Inc.

(a)(b) ...............

569,783

2,660,887

Stock

Yards

Bancorp,

Inc.

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

692,322

44,640,923

Texas

Capital

Bancshares,

Inc.

(a)(b) ........

1,196,433

92,065,519

Third

Coast

Bancshares,

Inc.

(a) ...........

332,099

10,816,464

Timberland

Bancorp,

Inc.

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

211,646

6,112,336

Tompkins

Financial

Corp.

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

350,801

22,640,697

Towne

Bank

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

1,882,273

61,211,518

TriCo

Bancshares

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

887,768

37,934,327

Triumph

Financial,

Inc.

(a)(b) ..............

569,031

50,285,269

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Banks
(continued)

TrustCo

Bank

Corp.

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

455,720

$

15,029,646

Trustmark

Corp.

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

1,492,433

51,817,274

UMB

Financial

Corp.

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

1,169,237

128,300,376

United

Bankshares

,

Inc.

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

3,487,344

131,403,122

United

Community

Banks,

Inc.

...........

2,913,280

82,911,949

Unity

Bancorp,

Inc.

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

219,567

8,492,852

Univest

Financial

Corp.

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

856,218

23,828,547

USCB

Financial

Holdings,

Inc.

,

Class

A

.....

266,953

3,876,158

Valley

National

Bancorp

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

11,111,764

105,228,405

Veritex

Holdings,

Inc.

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

1,297,293

35,026,911

Virginia

National

Bankshares

Corp.

........

117,492

4,660,908

WaFd

,

Inc.

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

1,778,791

60,443,318

Washington

Trust

Bancorp,

Inc.

..........

509,431

17,386,880

WesBanco

,

Inc.

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

1,526,784

48,017,357

West

BanCorp

,

Inc.

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

465,588

10,042,733

Westamerica

Bancorp

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

648,452

33,408,247

WSFS

Financial

Corp.

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

1,459,191

71,748,421

6,965,969,262

#### Beverages

#### —

#### 0.3%
Duckhorn

Portfolio,

Inc.

(The)

(a)(b) .........

1,350,437

14,800,789

MGP

Ingredients,

Inc.

(b) ................

361,995

17,390,240

National

Beverage

Corp.

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

604,011

27,295,257

Primo

Water

Corp.

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

4,078,347

106,975,042

Vita

Coco

Co.,

Inc.

(The)

(a)(b) ............

1,004,696

29,749,049

196,210,377

#### Biotechnology

#### —

#### 8.9%
2seventy

bio,

Inc.

(a)(b) .................

1,293,121

5,612,145

4D

Molecular

Therapeutics,

Inc.

(a)(b) ........

1,308,552

10,481,502

89bio,

Inc.

(a) .......................

2,166,508

16,855,432

Absci

Corp.

(a)(b) .....................

2,112,300

8,111,232

ACADIA

Pharmaceuticals,

Inc.

(a)(b) .........

3,066,790

44,744,466

ACELYRIN,

Inc.

(a)(b) ..................

1,888,366

10,725,919

Achieve

Life

Sciences,

Inc.

(a)(b) ...........

831,633

3,892,042

Acrivon

Therapeutics,

Inc.

(a)(b) ............

281,951

2,255,608

Actinium

Pharmaceuticals,

Inc.

(a)(b) ........

778,303

1,400,945

Acumen

Pharmaceuticals

,

Inc.

(a)(b) .........

1,009,063

2,906,101

ADC

Therapeutics

SA

(a)(b) ..............

2,000,180

5,640,508

ADMA

Biologics,

Inc.

(a) ................

5,797,630

94,559,345

Adverum

Biotechnologies,

Inc.

(a)(b) .........

543,653

3,965,949

Aerovate

Therapeutics,

Inc.

(a)(b) ...........

450,263

1,103,144

Agenus,

Inc.

(a)(b) .....................

523,976

2,200,699

Agios

Pharmaceuticals,

Inc.

(a) ...........

1,454,225

64,611,217

Akebia

Therapeutics,

Inc.

(a)(b) ............

5,530,325

9,180,339

Akero

Therapeutics,

Inc.

(a)(b) .............

1,744,311

53,777,108

Aldeyra

Therapeutics,

Inc.

(a)(b) ............

1,296,318

6,818,633

Alector

,

Inc.

(a)(b) .....................

2,098,341

10,323,838

Alkermes

plc

(a)(b) .....................

4,203,627

108,033,214

Allogene

Therapeutics,

Inc.

(a)(b) ...........

3,316,179

8,472,837

Altimmune

,

Inc.

(a)(b) ...................

1,830,974

12,340,765

ALX

Oncology

Holdings,

Inc.

(a)(b) ..........

867,199

1,240,095

Amicus

Therapeutics,

Inc.

(a)(b) ............

7,531,214

86,006,464

AnaptysBio

,

Inc.

(a)(b) ..................

503,129

10,882,680

Anavex

Life

Sciences

Corp.

(a)(b) ..........

1,946,169

12,883,639

Anika

Therapeutics,

Inc.

(a) ..............

348,950

5,970,535

Annexon

,

Inc.

(a)(b) ....................

2,467,201

18,059,911

Apogee

Therapeutics,

Inc.

(a)(b) ...........

977,045

50,845,422

Applied

Therapeutics,

Inc.

(a)(b) ............

2,486,153

21,977,593

Arbutus

Biopharma

Corp.

(a)(b) ............

3,744,715

14,398,429

Arcellx

,

Inc.

(a)(b) .....................

1,109,638

93,509,194

Arcturus

Therapeutics

Holdings,

Inc.

(a)(b) .....

593,781

10,527,737

Arcus

Biosciences,

Inc.

(a)(b) .............

1,389,657

21,261,752

Arcutis

Biotherapeutics,

Inc.

(a)(b) ..........

2,748,081

22,836,553

Ardelyx

,

Inc.

(a)(b) .....................

5,974,933

35,072,857

*Security*

*Shares*

*Shares*

*Value*

#### Biotechnology
(continued)

ArriVent

Biopharma,

Inc.

(a)(b) .............

711,173

$

20,865,816

Arrowhead

Pharmaceuticals,

Inc.

(a)(b) .......

3,071,543

59,065,772

ARS

Pharmaceuticals,

Inc.

(a)(b) ...........

1,274,086

18,754,546

Artiva

Biotherapeutics,

Inc.

(a)(b) ...........

295,208

2,993,409

Astria

Therapeutics,

Inc.

(a)(b) .............

1,156,866

12,933,762

Atossa

Therapeutics,

Inc.

(a)(b) ............

3,268,268

4,510,210

Aura

Biosciences,

Inc.

(a)(b) ..............

1,133,224

11,830,859

Aurinia

Pharmaceuticals,

Inc.

(a)(b) .........

3,436,810

24,779,400

Avid

Bioservices

,

Inc.

(a)(b) ...............

1,584,621

15,782,825

Avidity

Biosciences,

Inc.

(a)(b) .............

2,778,304

117,411,127

Avita

Medical,

Inc.

(a)(b) .................

656,684

6,632,508

Beam

Therapeutics,

Inc.

(a)(b) .............

1,965,935

43,073,636

BioCryst

Pharmaceuticals,

Inc.

(a)(b) ........

5,293,668

42,402,281

Biohaven

Ltd.

(a)(b) ....................

1,936,525

96,361,484

Biomea

Fusion,

Inc.

(a)(b) ................

718,868

6,735,793

Black

Diamond

Therapeutics,

Inc.

(a)(b) ......

1,030,064

2,822,375

Bluebird

Bio,

Inc.

(a)(b) ..................

5,005,404

2,322,507

Blueprint

Medicines

Corp.

(a)(b) ............

1,618,763

141,657,950

Boundless

Bio,

Inc.

(a)(b) ................

185,641

542,072

Bridgebio

Pharma,

Inc.

(a)(b) ..............

3,615,746

84,644,614

C4

Therapeutics,

Inc.

(a)(b) ...............

1,534,793

8,180,447

Cabaletta

Bio

,

Inc.

(a)(b) .................

1,116,866

3,964,874

Candel

Therapeutics,

Inc.

(a)(b) ............

511,782

2,702,209

Capricor

Therapeutics,

Inc.

(a)(b) ...........

665,600

13,378,560

Cardiff

Oncology,

Inc.

(a)(b) ...............

956,644

2,984,729

CareDx

,

Inc.

(a)(b) .....................

1,309,504

28,979,324

Cargo

Therapeutics,

Inc.

(a)(b) .............

872,281

17,009,479

Caribou

Biosciences,

Inc.

(a)(b) ............

2,179,265

4,271,359

Cartesian

Therapeutics,

Inc.

(a)(b) ..........

177,734

3,519,133

Catalyst

Pharmaceuticals,

Inc.

(a) ..........

2,868,368

62,530,422

Celcuity

,

Inc.

(a)(b) .....................

683,201

10,589,615

Celldex

Therapeutics,

Inc.

(a)(b) ............

1,660,146

43,263,405

Century

Therapeutics,

Inc.

(a)(b) ...........

1,026,978

1,181,025

CervoMed

,

Inc.

(a)(b) ...................

127,944

1,746,436

CG

oncology,

Inc.

(a)(b) .................

1,217,856

43,270,424

Cibus

,

Inc.

(a)(b) ......................

382,284

1,525,313

Climb

Bio,

Inc.

(a)(b) ...................

723,541

2,767,544

Cogent

Biosciences,

Inc.

(a)(b) ............

2,374,446

27,282,385

Coherus

Biosciences,

Inc.

(a)(b) ............

2,848,045

2,121,794

Compass

Therapeutics,

Inc.

(a)(b) ..........

2,515,894

4,126,066

Corbus

Pharmaceuticals

Holdings,

Inc.

(a)(b) ...

269,243

4,297,118

Crinetics

Pharmaceuticals,

Inc.

(a)(b) ........

2,255,048

126,192,486

Cullinan

Therapeutics,

Inc.

(a)(b) ...........

1,338,420

20,812,431

Cytokinetics,

Inc.

(a)(b) ..................

2,939,601

149,919,651

Day

One

Biopharmaceuticals,

Inc.

(a)(b) ......

1,329,139

19,564,926

Denali

Therapeutics,

Inc.

(a)(b) ............

3,193,526

82,903,935

Design

Therapeutics,

Inc.

(a)(b) ............

809,268

4,240,564

Dianthus

Therapeutics,

Inc.

(a)(b) ...........

618,246

17,224,334

Disc

Medicine,

Inc.

(a) ..................

511,179

22,911,043

Dynavax

Technologies

Corp.

(a)(b) ..........

3,387,674

40,143,937

Dyne

Therapeutics,

Inc.

(a)(b) .............

2,085,007

60,173,302

Editas

Medicine,

Inc.

(a)(b) ...............

2,152,572

6,242,459

Elevation

Oncology,

Inc.

(a)(b) .............

1,316,466

756,046

Enanta

Pharmaceuticals,

Inc.

(a)(b) .........

524,379

5,896,642

Entrada

Therapeutics,

Inc.

(a)(b) ...........

634,828

10,880,952

Erasca

,

Inc.

(a)(b) .....................

4,437,592

11,493,363

Fate

Therapeutics,

Inc.

(a)(b) ..............

2,582,631

6,120,835

Fennec

Pharmaceuticals,

Inc.

(a)(b) .........

559,371

2,438,858

Fibrobiologics

,

Inc.

(a)(b) .................

627,676

1,895,582

Foghorn

Therapeutics,

Inc.

(a)(b) ...........

618,263

4,711,164

Galectin

Therapeutics,

Inc.

(a)(b) ...........

372,101

919,089

Generation

Bio

Co.

(a)(b) ................

1,249,357

2,723,598

Geron

Corp.

(a)(b) .....................

14,961,284

61,490,877

Greenwich

Lifesciences,

Inc.

(a)(b) ..........

141,696

1,905,811

Gyre

Therapeutics,

Inc.

(a)(b) .............

145,634

2,082,566

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Biotechnology
(continued)

Halozyme

Therapeutics,

Inc.

(a)(b) ..........

3,211,075

$

162,384,063

Heron

Therapeutics,

Inc.

(a)(b) .............

3,037,660

5,285,528

HilleVax

,

Inc.

(a)(b) ....................

807,943

1,462,377

Humacyte

,

Inc.

(a)(b) ...................

2,306,743

11,649,052

Ideaya

Biosciences

,

Inc.

(a)(b) .............

2,142,040

60,298,426

IGM

Biosciences,

Inc.

(a)(b) ..............

401,289

6,878,093

ImmunityBio

,

Inc.

(a)(b) ..................

3,739,652

19,483,587

Immunome,

Inc.

(a)(b) ..................

1,335,442

15,317,520

Immunovant

,

Inc.

(a)(b) ..................

1,499,412

43,872,795

Inhibrx

Biosciences,

Inc.

(a)(b) .............

268,624

4,306,043

Inmune

Bio,

Inc.

(a)(b) ..................

310,909

1,818,818

Inovio

Pharmaceuticals

,

Inc.

(a)(b) ..........

681,404

3,597,813

Inozyme

Pharma,

Inc.

(a)(b) ..............

1,332,588

5,716,803

Insmed

,

Inc.

(a)(b) .....................

4,042,087

271,951,613

Intellia

Therapeutics,

Inc.

(a)(b) ............

2,472,927

35,165,022

Invivyd

,

Inc.

(a)(b) .....................

1,604,111

1,431,669

Iovance

Biotherapeutics,

Inc.

(a)(b) ..........

6,527,347

68,145,503

Ironwood

Pharmaceuticals,

Inc.

,

Class

A

(a) ...

3,624,118

14,315,266

iTeos

Therapeutics,

Inc.

(a)(b) .............

671,531

5,674,437

Janux

Therapeutics,

Inc.

(a)(b) .............

722,588

39,012,526

Jasper

Therapeutics,

Inc.

(a)(b) ............

296,675

6,283,577

KalVista

Pharmaceuticals

,

Inc.

(a)(b) .........

976,652

10,030,216

Keros

Therapeutics,

Inc.

(a)(b) .............

756,550

43,910,162

Kiniksa

Pharmaceuticals

International

plc

(a)(b) .

968,272

21,873,264

Kodiak

Sciences,

Inc.

(a) ................

802,624

3,049,971

Korro

Bio,

Inc.

(a)(b) ....................

157,925

9,080,688

Krystal

Biotech

,

Inc.

(a)(b) ................

638,218

110,111,752

Kura

Oncology,

Inc.

(a)(b) ................

1,874,727

31,345,435

Kymera

Therapeutics,

Inc.

(a)(b) ...........

1,148,808

53,040,465

Kyverna

Therapeutics,

Inc.

(a)(b) ...........

451,759

2,159,408

Larimar

Therapeutics,

Inc.

(a)(b) ............

1,095,985

9,014,477

LENZ

Therapeutics,

Inc.

(b) ..............

325,226

8,768,093

Lexeo

Therapeutics,

Inc.

(a)(b) .............

595,877

4,707,428

Lexicon

Pharmaceuticals

,

Inc.

(a)(b) .........

2,963,966

5,779,734

Lineage

Cell

Therapeutics,

Inc.

(a)(b) ........

3,684,588

3,062,998

Lyell

Immunopharma

,

Inc.

(a)(b) ............

4,286,388

4,116,218

MacroGenics

,

Inc.

(a) ..................

1,588,856

5,815,213

Madrigal

Pharmaceuticals

,

Inc.

(a)(b) ........

451,863

117,186,150

MannKind

Corp.

(a)(b) ..................

6,787,733

47,989,272

MeiraGTx

Holdings

plc

(a)(b) ..............

972,636

5,388,403

Mersana

Therapeutics,

Inc.

(a) ............

2,966,700

5,369,727

Metagenomi

,

Inc.

(a)(b) ..................

163,172

321,449

MiMedx

Group,

Inc.

(a)(b) ................

2,997,463

20,532,622

Mineralys

Therapeutics,

Inc.

(a)(b) ..........

744,624

9,963,069

Mirum

Pharmaceuticals,

Inc.

(a)(b) ..........

1,006,384

38,705,529

Monte

Rosa

Therapeutics,

Inc.

(a)(b) ........

1,027,710

8,735,535

Myriad

Genetics,

Inc.

(a)(b) ...............

2,304,071

50,597,399

Neurogene

,

Inc.

(a)(b) ..................

265,755

11,695,878

Nkarta

,

Inc.

(a)(b) .....................

1,373,111

4,229,182

Novavax,

Inc.

(a)(b) ....................

3,640,153

34,981,870

Nurix

Therapeutics,

Inc.

(a)(b) .............

1,642,282

40,367,292

Nuvalent

,

Inc.

,

Class

A

(a)(b) ..............

892,219

78,952,459

Ocugen

,

Inc.

(a)(b) .....................

6,653,124

6,060,996

Olema

Pharmaceuticals,

Inc.

(a)(b) ..........

1,019,091

11,750,119

Organogenesis

Holdings,

Inc.

,

Class

A

(a)(b) ...

1,936,093

5,362,978

ORIC

Pharmaceuticals,

Inc.

(a)(b) ..........

1,591,817

14,931,243

Outlook

Therapeutics,

Inc.

(a)(b) ...........

369,414

2,127,825

Ovid

therapeutics,

Inc.

(a) ...............

1,607,436

1,816,403

PDL

BioPharma

,

Inc.

(a)(d) ...............

11,853

—

PepGen

,

Inc.

(a)(b) ....................

396,779

2,626,677

Perspective

Therapeutics,

Inc.

(a)(b) .........

1,393,938

16,462,408

Poseida

Therapeutics,

Inc.

(a)(b) ...........

1,707,922

4,047,775

Praxis

Precision

Medicines,

Inc.

(a)(b) ........

443,907

31,069,051

Precigen

,

Inc.

(a)(b) ....................

3,361,278

2,649,359

Prelude

Therapeutics,

Inc.

(a)(b) ...........

358,702

430,442

*Security*

*Shares*

*Shares*

*Value*

(continued)

Prime

Medicine,

Inc.

(a)(b) ...............

1,461,195

$

5,669,437

ProKidney

Corp.

,

Class

A

(a)(b) ............

2,443,806

3,910,090

Protagonist

Therapeutics,

Inc.

(a) ..........

1,503,116

68,902,837

Prothena

Corp.

plc

(a)(b) .................

1,086,121

18,464,057

PTC

Therapeutics,

Inc.

(a)(b) ..............

1,961,095

78,286,912

Puma

Biotechnology,

Inc.

(a)(b) ............

1,080,781

3,080,226

Pyxis

Oncology,

Inc.

(a)(b) ................

1,231,472

4,384,040

Q32

Bio,

Inc.

(a)(b) ....................

155,361

7,337,700

RAPT

Therapeutics,

Inc.

(a)(b) .............

730,794

1,549,283

Recursion

Pharmaceuticals,

Inc.

,

Class

A

(a)(b) .

6,121,458

38,687,615

REGENXBIO,

Inc.

(a)(b) .................

1,183,646

10,167,519

Regulus

Therapeutics,

Inc.

(a)(b) ...........

1,617,996

2,362,274

Relay

Therapeutics,

Inc.

(a)(b) .............

2,564,443

14,450,636

Renovaro

,

Inc.

(a)(b) ...................

1,175,285

625,369

Replimune

Group,

Inc.

(a)(b) ..............

1,562,260

18,372,178

REVOLUTION

Medicines,

Inc.

(a)(b) .........

3,919,451

209,690,629

Rhythm

Pharmaceuticals,

Inc.

(a)(b) .........

1,409,869

67,293,047

Rigel

Pharmaceuticals,

Inc.

(a)(b) ...........

462,770

6,307,555

Rocket

Pharmaceuticals,

Inc.

(a)(b) .........

1,697,078

28,256,349

Sage

Therapeutics,

Inc.

(a)(b) .............

1,392,482

8,466,291

Sana

Biotechnology,

Inc.

(a)(b) ............

3,441,589

12,045,562

Savara

,

Inc.

(a)(b) .....................

2,969,846

10,795,390

Scholar

Rock

Holding

Corp.

(a)(b) ..........

1,785,837

50,789,204

Sera

Prognostics

,

Inc.

,

Class

A

(a)(b) ........

697,621

5,364,705

Shattuck

Labs,

Inc.

(a)(b) ................

1,021,505

1,287,096

Skye

Bioscience,

Inc.

(a)(b) ...............

446,814

2,341,305

Soleno

Therapeutics,

Inc.

(a)(b) ............

596,831

32,861,515

Solid

Biosciences,

Inc.

(a)(b) ..............

599,428

3,308,843

SpringWorks

Therapeutics,

Inc.

(a)(b) ........

1,772,083

53,392,861

Spyre

Therapeutics,

Inc.

(a)(b) .............

884,877

28,785,049

Stoke

Therapeutics,

Inc.

(a)(b) .............

912,015

11,272,505

Summit

Therapeutics,

Inc.

(a)(b) ............

2,256,799

41,953,893

Sutro

Biopharma

,

Inc.

(a)(b) ..............

2,094,273

6,806,387

Syndax

Pharmaceuticals,

Inc.

(a)(b) .........

2,127,335

40,121,538

Tango

Therapeutics,

Inc.

(a)(b) .............

1,227,962

6,673,973

Taysha

Gene

Therapies,

Inc.

(a)(b) ..........

4,465,380

7,546,492

Tenaya

Therapeutics,

Inc.

(a)(b) ............

1,428,719

2,743,140

TG

Therapeutics,

Inc.

(a)(b) ...............

3,591,360

89,999,482

Tourmaline

Bio,

Inc.

(a) .................

591,155

15,086,276

Travere

Therapeutics,

Inc.

(a)(b) ...........

1,897,045

33,198,288

TScan

Therapeutics,

Inc.

(a) .............

967,477

4,392,346

Twist

Bioscience

Corp.

(a)(b) ..............

1,483,546

59,875,917

Tyra

Biosciences,

Inc.

(a)(b) ..............

531,353

8,862,968

UroGen

Pharma

Ltd.

(a)(b) ...............

957,944

11,744,393

Vanda

Pharmaceuticals

,

Inc.

(a)(b) ..........

1,463,854

6,806,921

Vaxcyte

,

Inc.

(a)(b) .....................

3,072,476

326,757,823

Vera

Therapeutics,

Inc.

,

Class

A

(a)(b) ........

1,003,613

40,525,893

Veracyte

,

Inc.

(a)(b) ....................

1,976,865

66,699,425

Verastem

,

Inc.

(a)(b) ....................

901,776

3,390,678

Vericel

Corp.

(a)(b) .....................

1,247,125

54,923,385

Verve

Therapeutics,

Inc.

(a)(b) .............

1,831,838

10,496,432

Vir

Biotechnology,

Inc.

(a) ...............

2,313,017

17,324,497

Viridian

Therapeutics,

Inc.

(a)(b) ............

1,604,235

34,603,349

Voyager

Therapeutics,

Inc.

(a)(b) ...........

1,206,285

8,238,927

Werewolf

Therapeutics,

Inc.

(a)(b) ..........

676,891

1,729,457

X4

Pharmaceuticals,

Inc.

(a)(b) ............

4,195,788

2,098,733

XBiotech

,

Inc.

(a)(b) ....................

450,934

3,273,781

Xencor

,

Inc.

(a) ......................

1,520,688

31,949,655

XOMA

Royalty

Corp.

(a)(b) ...............

193,330

5,838,566

Y-

mAbs

Therapeutics,

Inc.

(a)(b) ...........

951,950

13,812,795

Zentalis

Pharmaceuticals,

Inc.

(a)(b) .........

1,432,675

3,911,203

Zura

Bio

Ltd.

,

Class

A

(a)(b) ..............

1,006,940

4,430,536

Zymeworks

,

Inc.

(a)(b) ..................

1,422,876

19,493,401

6,041,030,701

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Broadline

#### Retail

#### —

#### 0.0%
(a) 1stdibs.com,

Inc.

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

558,377

$

2,328,432

Groupon,

Inc.

(b) .....................

588,980

6,042,935

Savers

Value

Village,

Inc.

(b) .............

603,376

6,172,536

14,543,903

#### Building

#### Products

#### —

#### 1.5%
American

Woodmark

Corp.

(a) ............

400,976

36,372,533

Apogee

Enterprises,

Inc.

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

570,624

42,705,500

AZZ,

Inc.

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

754,131

57,449,700

Caesarstone

Ltd.

(a)(b) ..................

422,819

1,703,961

CSW

Industrials,

Inc.

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

426,209

150,494,398

Gibraltar

Industries,

Inc.

(a)(b) .............

777,400

52,466,726

Griffon

Corp.

(b) ......................

978,860

61,550,717

Insteel

Industries,

Inc.

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

455,188

12,276,420

Janus

International

Group,

Inc.

(a)(b) ........

3,632,015

26,731,630

JELD-WEN

Holding,

Inc.

(a)(b) .............

2,223,152

31,479,832

Masterbrand,

Inc.

(a) ..................

3,275,601

58,829,794

Quanex

Building

Products

Corp.

..........

1,132,776

32,918,471

Resideo

Technologies,

Inc.

(a)(b) ...........

3,776,943

74,292,469

Tecnoglass

,

Inc.

(b) ...................

578,895

39,671,674

UFP

Industries,

Inc.

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

1,562,228

191,122,973

Zurn

Elkay

Water

Solutions

Corp.

(b) ........

3,700,210

133,577,581

1,003,644,379

#### Capital

#### Markets

#### —

#### 1.8%
AlTi

Global,

Inc.

,

Class

A

(a)(b) ............

793,617

3,237,958

Artisan

Partners

Asset

Management,

Inc.

,

Class

A

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

1,625,092

71,666,557

B

Riley

Financial,

Inc.

(b) ................

537,789

3,170,266

BGC

Group,

Inc.

,

Class

A

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

8,446,764

79,146,179

Brightsphere

Investment

Group,

Inc.

.......

738,524

19,489,648

Cohen

&

Steers,

Inc.

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

722,817

71,392,635

Diamond

Hill

Investment

Group,

Inc.

.......

77,842

11,747,915

DigitalBridge

Group,

Inc.

,

Class

A

(b) ........

4,120,097

64,644,322

Donnelley

Financial

Solutions,

Inc.

(a)(b) ......

670,898

39,140,189

Forge

Global

Holdings,

Inc.

(a)(b) ...........

3,030,386

3,515,248

GCM

Grosvenor,

Inc.

,

Class

A

...........

1,153,809

13,314,956

Hamilton

Lane,

Inc.

,

Class

A

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

987,867

177,460,428

MarketWise

,

Inc.

,

Class

A

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

739,678

429,013

Moelis

&

Co.

,

Class

A

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

1,470,957

97,671,545

Open

Lending

Corp.

,

Class

A

(a)(b) .........

2,616,245

14,650,972

P10,

Inc.

,

Class

A

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

956,219

10,566,220

Patria

Investments

Ltd.

,

Class

A

..........

1,461,413

17,010,847

Perella

Weinberg

Partners

,

Class

C

.......

1,396,266

28,246,461

Piper

Sandler

Cos.

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

455,251

129,127,394

PJT

Partners,

Inc.

,

Class

A

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

619,962

86,149,920

Silvercrest

Asset

Management

Group,

Inc.

,

Class

A

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

247,782

4,318,840

StepStone

Group,

Inc.

,

Class

A

..........

1,617,186

97,241,394

StoneX

Group,

Inc.

(a) .................

733,700

66,062,348

Value

Line,

Inc.

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

22,394

1,082,750

Victory

Capital

Holdings,

Inc.

,

Class

A

......

1,090,615

65,360,557

Virtus

Investment

Partners,

Inc.

..........

183,028

39,601,768

WisdomTree,

Inc.

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

3,658,580

37,866,303

1,253,312,633

#### Chemicals

#### —

#### 2.0%
AdvanSix

,

Inc.

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

657,406

18,650,608

American

Vanguard

Corp.

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

662,863

3,466,773

Arcadium

Lithium

plc

(a)(b) ...............

27,846,894

150,094,759

Arq

,

Inc.

(a)(b) ........................

626,785

3,672,960

ASP

Isotopes,

Inc.

(a)(b) .................

1,306,962

9,135,664

Aspen

Aerogels,

Inc.

(a)(b) ...............

1,503,519

26,822,779

Avient

Corp.

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

2,361,000

110,046,210

Balchem

Corp.

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

831,311

139,103,270

Cabot

Corp.

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

1,403,679

151,358,707

*Security*

*Shares*

*Shares*

*Value*

#### Chemicals
(continued)

Core

Molding

Technologies,

Inc.

(a) .........

182,088

$

2,740,424

Ecovyst

,

Inc.

(a)(b) .....................

2,955,209

19,681,692

Hawkins,

Inc.

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

496,241

53,048,163

HB

Fuller

Co.

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

1,408,846

103,099,350

Ingevity

Corp.

(a)(b) ....................

933,711

39,019,783

Innospec,

Inc.

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

635,224

68,464,443

Intrepid

Potash,

Inc.

(a)(b) ................

276,317

6,932,793

Koppers

Holdings,

Inc.

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

526,194

17,895,858

Kronos

Worldwide,

Inc.

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

585,600

6,757,824

LSB

Industries,

Inc.

(a)(b) ................

1,382,192

11,333,974

Mativ

Holdings,

Inc.

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

1,385,993

21,413,592

Minerals

Technologies,

Inc.

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

827,196

62,279,587

Northern

Technologies

International

Corp.

...

151,104

1,920,532

Orion

SA

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

1,474,993

22,110,145

Perimeter

Solutions

SA

(a)(b) .............

3,440,724

45,692,815

PureCycle

Technologies,

Inc.

(a)(b) ..........

3,170,023

41,273,699

Quaker

Chemical

Corp.

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

360,760

54,684,001

Rayonier

Advanced

Materials,

Inc.

(a) .......

1,660,333

13,216,251

Sensient

Technologies

Corp.

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

1,077,797

81,352,118

Stepan

Co.

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

543,117

39,289,084

Tronox

Holdings

plc

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

3,085,149

37,392,006

Valhi,

Inc.

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

73,044

2,487,148

1,364,437,012

#### Commercial

#### Services

#### &

#### Supplies

#### —

#### 1.7%
ABM

Industries,

Inc.

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

1,639,170

86,974,360

ACCO

Brands

Corp.

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

2,391,679

11,719,227

ACV

Auctions,

Inc.

,

Class

A

(a)(b) ...........

3,827,674

66,180,483

Aris

Water

Solutions,

Inc.

,

Class

A

........

705,276

11,637,054

BrightView

Holdings,

Inc.

(a)(b) ............

1,500,649

24,580,631

Brink's

Co.

(The)

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

1,162,323

119,475,181

Casella

Waste

Systems,

Inc.

,

Class

A

(a)(b) ....

1,583,010

154,945,019

CECO

Environmental

Corp.

(a)(b) ..........

745,977

17,754,253

Cimpress

plc

(a)(b) ....................

448,117

30,924,554

CompX

International,

Inc.

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

31,766

895,484

CoreCivic

,

Inc.

(a) ....................

2,839,227

39,209,725

Deluxe

Corp.

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

1,169,166

21,933,554

Driven

Brands

Holdings,

Inc.

(a)(b) ..........

1,535,273

22,798,804

Ennis,

Inc.

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

615,283

12,527,162

Enviri

Corp.

(a) ......................

2,043,870

15,656,044

GEO

Group,

Inc.

(The)

(a) ...............

3,217,149

48,836,322

Healthcare

Services

Group,

Inc.

(a) .........

1,874,122

20,559,118

HNI

Corp.

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

1,229,378

60,583,748

Interface,

Inc.

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

1,491,681

26,059,667

LanzaTech

Global,

Inc.

(a)(b) ..............

2,679,343

4,528,090

Liquidity

Services,

Inc.

(a) ...............

527,956

11,393,290

Matthews

International

Corp.

,

Class

A

......

769,779

17,928,153

MillerKnoll

,

Inc.

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

1,811,543

40,506,101

Montrose

Environmental

Group,

Inc.

(a)(b) .....

819,516

21,610,637

NL

Industries,

Inc.

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

211,867

1,586,884

OPENLANE,

Inc.

(a)(b) ..................

2,791,059

44,098,732

Perma

-Fix

Environmental

Services,

Inc.

(a)(b) ..

354,742

4,760,638

Pitney

Bowes,

Inc.

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

2,823,565

20,357,904

Quad/Graphics,

Inc.

,

Class

A

(b) ...........

783,654

4,976,203

Quest

Resource

Holding

Corp.

(a) ..........

314,390

2,452,242

Steelcase,

Inc.

,

Class

A

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

2,430,312

29,236,653

UniFirst

Corp.

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

387,583

69,691,299

Viad

Corp.

(a) .......................

542,550

20,313,072

Virco

Mfg.

Corp.

(b) ...................

289,483

4,061,446

VSE

Corp.

(b) .......................

410,635

42,139,364

1,132,891,098

#### Communications

#### Equipment

#### —

#### 0.6%
(a) ADTRAN

Holdings,

Inc.

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

2,068,973

12,569,011

Applied

Optoelectronics,

Inc.

(b) ...........

954,020

14,901,792

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Communications

#### Equipment
(continued)

Aviat

Networks,

Inc.

(b) .................

283,261

$

5,792,687

Calix,

Inc.

(b) ........................

1,516,371

53,649,206

Clearfield,

Inc.

(b) .....................

314,847

11,312,453

CommScope

Holding

Co.,

Inc.

(b) ..........

5,502,251

37,030,149

Digi

International,

Inc.

(b) ................

916,050

26,537,969

Extreme

Networks,

Inc.

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

3,257,173

48,629,593

Harmonic,

Inc.

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

2,851,787

31,626,318

Infinera

Corp.

(b) .....................

5,220,910

35,084,515

NETGEAR,

Inc.

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

723,278

15,854,254

NetScout

Systems,

Inc.

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

1,803,883

37,935,659

Ribbon

Communications,

Inc.

(b) ..........

2,350,271

8,366,965

Viasat

,

Inc.

(b) .......................

3,187,975

30,604,560

Viavi

Solutions,

Inc.

(b) .................

5,644,251

52,039,994

421,935,125

#### Construction

#### &

#### Engineering

#### —

#### 1.7%
Ameresco,

Inc.

,

Class

A

(a)(b) .............

836,654

25,743,844

Arcosa

,

Inc.

(b) ......................

1,246,607

116,732,279

Argan,

Inc.

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

316,801

41,830,404

Bowman

Consulting

Group

Ltd.

(a)(b) ........

340,415

6,910,424

Centuri

Holdings,

Inc.

(a)(b) ...............

335,900

6,304,843

Concrete

Pumping

Holdings,

Inc.

(a) ........

595,089

3,302,744

Construction

Partners,

Inc.

,

Class

A

(a)(b) .....

1,105,191

87,011,687

Dycom

Industries,

Inc.

(a)(b) ..............

733,802

127,923,703

Fluor

Corp.

(a) .......................

4,407,759

230,437,641

Granite

Construction,

Inc.

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

1,138,802

95,716,308

Great

Lakes

Dredge

&

Dock

Corp.

(a) .......

1,662,271

18,999,758

IES

Holdings,

Inc.

(a)(b) .................

213,054

46,587,453

Limbach

Holdings,

Inc.

(a)(b) ..............

263,332

20,005,332

Matrix

Service

Co.

(a)(b) .................

675,504

7,585,910

MYR

Group,

Inc.

(a) ...................

421,132

55,168,292

Northwest

Pipe

Co.

(a) .................

237,308

10,652,756

Orion

Group

Holdings,

Inc.

(a)(b) ...........

808,889

4,942,312

Primoris

Services

Corp.

(b) ..............

1,389,739

87,025,456

Southland

Holdings,

Inc.

(a) ..............

133,266

386,471

Sterling

Infrastructure,

Inc.

(a)(b) ...........

778,533

120,244,422

Tutor

Perini

Corp.

(a)(b) .................

1,124,462

29,146,055

1,142,658,094

#### Construction

#### Materials

#### —

#### 0.5%
Knife

River

Corp.

(a) ...................

1,462,576

142,337,896

Smith-Midland

Corp.

(a)(b) ...............

110,672

3,807,117

Summit

Materials,

Inc.

,

Class

A

(a)(b) ........

3,140,971

148,913,435

United

States

Lime

&

Minerals,

Inc.

(b) ......

269,597

30,405,150

325,463,598

#### Consumer

#### Finance

#### —

#### 0.9%
Atlanticus

Holdings

Corp.

(a)(b) ............

141,337

5,256,323

Bread

Financial

Holdings,

Inc.

...........

642,741

32,040,639

Consumer

Portfolio

Services,

Inc.

(a)(b) .......

210,819

2,110,298

Encore

Capital

Group,

Inc.

(a)(b) ...........

617,924

28,226,768

Enova

International,

Inc.

(a) ..............

658,197

57,203,901

FirstCash

Holdings,

Inc.

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

993,371

102,784,097

Green

Dot

Corp.

,

Class

A

(a) .............

1,011,599

11,491,765

LendingClub

Corp.

(a) ..................

2,820,413

39,993,456

LendingTree,

Inc.

(a)(b) .................

260,287

14,844,168

Medallion

Financial

Corp.

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

492,556

4,659,580

Moneylion

,

Inc.

(a)(b) ...................

224,318

9,638,945

Navient

Corp.

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

2,171,029

30,893,743

Nelnet,

Inc.

,

Class

A

(b) .................

383,808

43,255,162

NerdWallet,

Inc.

,

Class

A

(a)(b) ............

1,034,287

15,193,676

OppFi

,

Inc.

,

Class

A

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

446,841

2,287,826

PRA

Group,

Inc.

(a) ...................

999,445

20,148,811

PROG

Holdings,

Inc.

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

1,073,830

46,894,156

Regional

Management

Corp.

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

220,796

6,341,261

Upstart

Holdings,

Inc.

(a)(b) ...............

1,983,744

96,568,658

*Security*

*Shares*

*Shares*

*Value*

#### Consumer

#### Finance
(continued)

World

Acceptance

Corp.

(a)(b) .............

91,703

$

10,463,312

580,296,545

#### Consumer

#### Staples

#### Distribution

#### &

#### Retail

#### —

#### 0.9%
Andersons,

Inc.

(The)

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

859,174

39,006,500

Chefs'

Warehouse,

Inc.

(The)

(a)(b) .........

902,425

36,024,806

HF

Foods

Group,

Inc.

(a)(b) ...............

922,887

3,156,274

Ingles

Markets,

Inc.

,

Class

A

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

370,478

23,658,725

Natural

Grocers

by

Vitamin

Cottage,

Inc.

....

256,470

7,022,149

PriceSmart

,

Inc.

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

640,961

53,251,040

SpartanNash

Co.

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

876,302

18,437,394

Sprouts

Farmers

Market,

Inc.

(a)(b) .........

2,597,784

333,633,399

United

Natural

Foods,

Inc.

(a)(b) ...........

1,518,144

30,879,049

Village

Super

Market,

Inc.

,

Class

A

........

219,034

6,251,230

Weis

Markets,

Inc.

(b) ..................

418,868

26,342,608

577,663,174

#### Containers

#### &

#### Packaging

#### —

#### 0.2%
Ardagh

Metal

Packaging

SA

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

3,672,136

13,513,461

Greif,

Inc.

,

Class

A,

NVS

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

659,505

41,179,492

Greif,

Inc.

,

Class

B

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

122,602

8,205,752

Myers

Industries,

Inc.

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

939,178

11,063,517

O-I

Glass,

Inc.

(a)(b) ....................

3,993,994

44,373,273

Pactiv

Evergreen,

Inc.

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

1,053,001

11,941,031

Ranpak

Holdings

Corp.

,

Class

A

(a) ........

1,145,814

6,966,549

TriMas

Corp.

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

1,011,833

27,167,716

164,410,791

#### Distributors

#### —

#### 0.1%
A-Mark

Precious

Metals,

Inc.

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

458,516

17,813,347

GigaCloud

Technology,

Inc.

,

Class

A

(a)(b) .....

603,172

13,734,226

Weyco

Group,

Inc.

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

135,728

4,568,605

36,116,178

#### Diversified

#### Consumer

#### Services

#### —

#### 1.0%
Adtalem

Global

Education,

Inc.

(a) .........

963,373

77,956,143

American

Public

Education,

Inc.

(a)(b) ........

405,537

6,151,996

Carriage

Services,

Inc.

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

337,034

12,601,701

Chegg,

Inc.

(a)(b) .....................

2,617,809

4,188,494

Coursera,

Inc.

(a)(b) ....................

3,542,392

24,619,624

European

Wax

Center,

Inc.

,

Class

A

(a)(b) .....

824,112

5,925,365

Frontdoor

,

Inc.

(a)(b) ...................

2,015,310

100,140,754

Graham

Holdings

Co.

,

Class

B

...........

84,677

71,408,114

Laureate

Education,

Inc.

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

3,448,692

59,248,529

Lincoln

Educational

Services

Corp.

(a) .......

675,593

8,971,875

Mister

Car

Wash,

Inc.

(a)(b) ...............

2,420,495

18,177,918

Nerdy,

Inc.

,

Class

A

(a)(b) ................

1,894,615

1,712,732

OneSpaWorld

Holdings

Ltd.

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

2,605,415

45,620,817

Perdoceo

Education

Corp.

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

1,555,878

34,773,873

Strategic

Education,

Inc.

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

571,607

49,706,945

Stride,

Inc.

(a)(b) ......................

1,097,695

102,392,990

Udemy,

Inc.

(a)(b) .....................

2,495,047

19,561,169

Universal

Technical

Institute,

Inc.

(a)(b) .......

1,011,022

16,823,406

659,982,445

#### Diversified

#### REITs

#### —

#### 0.7%
Alexander

&

Baldwin,

Inc.

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

1,961,811

36,509,303

Alpine

Income

Property

Trust,

Inc.

........

323,793

5,676,091

American

Assets

Trust,

Inc.

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

1,262,589

34,026,773

Armada

Hoffler

Properties,

Inc.

..........

1,702,124

18,434,003

Broadstone

Net

Lease,

Inc.

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

4,891,963

86,049,629

CTO

Realty

Growth,

Inc.

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

521,623

10,093,405

Empire

State

Realty

Trust,

Inc.

,

Class

A

.....

3,481,583

36,904,780

Essential

Properties

Realty

Trust,

Inc.

......

4,589,213

145,432,160

Gladstone

Commercial

Corp.

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

1,036,591

16,321,125

Global

Net

Lease,

Inc.

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

5,181,264

40,362,047

NexPoint

Diversified

Real

Estate

Trust

(b) ....

862,966

4,616,868

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Diversified

#### REITs
(continued)

One

Liberty

Properties,

Inc.

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

434,834

$

11,610,068

446,036,252

#### Diversified

#### Telecommunication

#### Services

#### —

#### 0.7%
Anterix

,

Inc.

(a)(b) .....................

257,469

8,362,593

AST

SpaceMobile

,

Inc.

,

Class

A

(a)(b) ........

3,446,398

82,058,736

ATN

International,

Inc.

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

272,462

5,710,804

Bandwidth,

Inc.

,

Class

A

(a)(b) .............

638,897

12,458,492

Cogent

Communications

Holdings,

Inc.

.....

1,131,860

90,854,402

Consolidated

Communications

Holdings,

Inc.

(a) 1,875,837

8,694,505

Globalstar

,

Inc.

(a)(b) ...................

18,971,909

19,920,504

IDT

Corp.

,

Class

B

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

395,008

18,537,725

Liberty

Latin

America

Ltd.

,

Class

A

(a)(b) ......

851,928

8,340,375

Liberty

Latin

America

Ltd.

,

Class

C,

NVS

(a)(b) ..

3,337,141

32,303,525

Lumen

Technologies,

Inc.

(a)(b) ............

26,074,038

166,613,103

Shenandoah

Telecommunications

Co.

......

1,245,466

17,237,249

471,092,013

#### Electric

#### Utilities

#### —

#### 0.8%
ALLETE,

Inc.

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

1,512,597

96,670,074

Genie

Energy

Ltd.

,

Class

B

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

349,006

5,486,374

Hawaiian

Electric

Industries,

Inc.

(a) ........

4,252,505

43,673,226

MGE

Energy,

Inc.

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

937,381

84,823,607

Otter

Tail

Corp.

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

1,068,182

83,873,651

Portland

General

Electric

Co.

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

2,645,359

125,390,017

TXNM

Energy,

Inc.

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

2,305,598

100,385,737

540,302,686

#### Electrical

#### Equipment

#### —

#### 1.3%
Allient

,

Inc.

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

351,172

6,071,764

American

Superconductor

Corp.

(a)(b) .......

902,934

22,139,942

Amprius

Technologies,

Inc.

(a)(b) ...........

181,012

244,366

Array

Technologies,

Inc.

(a)(b) .............

3,931,618

25,673,466

Atkore,

Inc.

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

946,819

81,199,197

Blink

Charging

Co.

(a)(b) .................

2,485,374

4,921,040

Bloom

Energy

Corp.

,

Class

A

(a)(b) .........

5,120,044

49,152,422

ChargePoint

Holdings,

Inc.

,

Class

A

(a)(b) .....

9,896,823

11,876,188

Energy

Vault

Holdings,

Inc.

(a)(b) ...........

2,394,770

4,478,220

EnerSys

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

1,026,424

99,419,429

Enovix

Corp.

(a)(b) .....................

3,931,667

35,404,661

Fluence

Energy,

Inc.

,

Class

A

(a)(b) .........

1,575,673

34,270,888

Freyr

Battery,

Inc.

(a)(b) .................

2,840,029

2,754,828

FuelCell

Energy,

Inc.

(a)(b) ...............

13,272,203

4,565,638

GrafTech

International

Ltd.

(a) ............

6,780,205

11,526,348

LSI

Industries,

Inc.

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

685,659

11,217,381

NANO

Nuclear

Energy,

Inc.

(a)(b) ...........

108,675

2,125,683

Net

Power,

Inc.

,

Class

A

(a)(b) .............

497,133

4,484,140

NEXTracker,

Inc.

,

Class

A

(a)(b) ............

3,714,402

147,907,488

NuScale

Power

Corp.

,

Class

A

(a)(b) .........

2,043,360

39,109,910

Plug

Power,

Inc.

(a)(b) ..................

19,100,874

37,437,713

Powell

Industries,

Inc.

(b) ...............

240,893

61,422,897

Preformed

Line

Products

Co.

(b) ...........

58,191

7,157,493

SES

AI

Corp.

,

Class

A

(a)(b) ..............

3,533,732

1,672,515

Shoals

Technologies

Group,

Inc.

,

Class

A

(a)(b) .

4,406,655

23,840,004

Stem,

Inc.

(a)(b) ......................

3,893,435

1,469,772

Sunrun,

Inc.

(a)(b) .....................

5,623,207

81,255,341

Thermon

Group

Holdings,

Inc.

(a) ..........

844,441

22,132,799

TPI

Composites,

Inc.

(a)(b) ...............

1,183,375

4,029,392

Ultralife

Corp.

(a) .....................

221,709

1,864,573

Vicor

Corp.

(a)(b) ......................

583,482

26,670,962

867,496,460

#### Electronic

#### Equipment,

#### Instruments

#### &

#### Components

#### —

#### 3.0%
908

Devices,

Inc.

(a)(b) ..................

618,815

1,939,985

Advanced

Energy

Industries,

Inc.

(b) ........

958,653

104,042,610

Aeva

Technologies,

Inc.

(a)(b) .............

576,942

2,123,147

*Security*

*Shares*

*Shares*

*Value*

#### Electronic

#### Equipment,

#### Instruments

#### &

#### Components
(continued)

Arlo

Technologies,

Inc.

(a)(b) ..............

2,445,494

$

24,846,219

Badger

Meter,

Inc.

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

755,310

151,099,766

Bel

Fuse,

Inc.

,

Class

A

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

37,193

3,769,511

Bel

Fuse,

Inc.

,

Class

B,

NVS

(b) ...........

275,607

20,786,280

Belden,

Inc.

(b) ......................

1,046,237

119,135,007

Benchmark

Electronics,

Inc.

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

928,024

40,183,439

Climb

Global

Solutions,

Inc.

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

107,632

11,020,441

CTS

Corp.

(b) .......................

754,548

37,342,581

Daktronics,

Inc.

(a)(b) ...................

959,906

12,507,575

ePlus

,

Inc.

(a)(b) ......................

687,839

61,183,279

Evolv

Technologies

Holdings,

Inc.

(a)(b) ......

3,331,258

7,162,205

Fabrinet

(a)(b) ........................

938,808

226,224,564

FARO

Technologies,

Inc.

(a)(b) ............

459,157

8,053,614

Insight

Enterprises,

Inc.

(a)(b) .............

725,348

126,877,872

Iteris

,

Inc.

(a)(b) .......................

1,118,698

8,043,439

Itron

,

Inc.

(a)(b) .......................

1,187,120

132,672,531

Kimball

Electronics,

Inc.

(a) ..............

615,485

10,949,478

Knowles

Corp.

(a)(b) ...................

2,294,918

39,747,980

Lightwave

Logic,

Inc.

(a)(b) ...............

3,090,549

9,735,229

Methode

Electronics,

Inc.

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

917,952

8,004,541

MicroVision

,

Inc.

(a)(b) ..................

5,316,587

5,369,753

Mirion

Technologies,

Inc.

,

Class

A

(a)(b) ......

5,131,299

75,943,225

Motomova

,

Inc.

(a)(d) ...................

26,106

—

Napco

Security

Technologies,

Inc.

........

904,315

34,798,041

nLight

,

Inc.

(a)(b) ......................

1,184,543

14,783,097

Novanta

,

Inc.

(a)(b) ....................

924,193

157,334,616

OSI

Systems,

Inc.

(a)(b) .................

413,628

54,685,758

Ouster,

Inc.

,

Class

A

(a)(b) ...............

1,122,845

7,444,462

PAR

Technology

Corp.

(a)(b) ..............

935,082

55,160,487

PC

Connection,

Inc.

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

303,797

19,336,679

Plexus

Corp.

(a)(b) .....................

701,092

101,027,357

Powerfleet

,

Inc.

(a)(b) ...................

2,446,287

12,304,824

Richardson

Electronics

Ltd.

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

286,137

3,931,522

Rogers

Corp.

(a)(b) ....................

476,082

47,741,503

Sanmina

Corp.

(a)(b) ...................

1,391,716

97,559,292

ScanSource,

Inc.

(a)(b) ..................

652,839

27,686,902

SmartRent

,

Inc.

,

Class

A

(a)(b) .............

4,892,216

8,267,845

TTM

Technologies,

Inc.

(a) ...............

2,598,084

58,301,005

Vishay

Intertechnology

,

Inc.

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

3,242,990

55,001,110

Vishay

Precision

Group,

Inc.

(a) ...........

296,440

6,880,372

2,011,009,143

#### Energy

#### Equipment

#### &

#### Services

#### —

#### 2.0%
Archrock

,

Inc.

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

4,289,129

85,868,363

Atlas

Energy

Solutions,

Inc.

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

1,742,126

34,093,406

Borr

Drilling

Ltd.

(a)(b) ..................

6,031,400

25,271,566

Bristow

Group,

Inc.

(a)(b) ................

635,058

21,064,874

Cactus,

Inc.

,

Class

A

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

1,685,408

99,927,840

ChampionX

Corp.

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

4,948,562

139,648,420

Core

Laboratories,

Inc.

(b) ...............

1,204,818

22,771,060

DMC

Global,

Inc.

(a)(b) ..................

481,485

4,858,184

Drilling

Tools

International

Corp.

(a)(b) ........

116,015

388,650

Expro

Group

Holdings

NV

(a)(b) ............

2,440,325

31,114,144

Forum

Energy

Technologies,

Inc.

(a)(b) .......

262,080

3,663,878

Geospace

Technologies

Corp.

(a)(b) .........

277,686

3,110,083

Helix

Energy

Solutions

Group,

Inc.

(a) .......

3,703,548

34,257,819

Helmerich

&

Payne,

Inc.

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

2,514,675

84,493,080

Innovex

International,

Inc.

(a)(b) ............

832,546

11,813,828

Kodiak

Gas

Services,

Inc.

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

490,929

15,650,816

Liberty

Energy,

Inc.

,

Class

A

(b) ...........

4,162,755

71,058,228

Mammoth

Energy

Services,

Inc.

(a)(b) ........

554,337

2,439,083

Nabors

Industries

Ltd.

(a)(b) ..............

238,416

17,740,534

Natural

Gas

Services

Group,

Inc.

(a) ........

264,367

5,173,662

Newpark

Resources,

Inc.

(a)(b) ............

2,098,223

13,974,165

Noble

Corp.

plc

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

3,550,807

113,554,808

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Energy

#### Equipment

#### &

#### Services
(continued)

Oceaneering

International,

Inc.

(a)(b) ........

2,622,089

$

63,978,972

Oil

States

International,

Inc.

(a) ............

1,600,734

7,571,472

Patterson-UTI

Energy,

Inc.

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

10,119,733

77,618,352

ProFrac

Holding

Corp.

,

Class

A

(a)(b) ........

543,724

3,237,876

ProPetro

Holding

Corp.

(a)(b) .............

2,272,546

15,703,293

Ranger

Energy

Services,

Inc.

,

Class

A

......

380,439

4,938,098

RPC,

Inc.

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

2,164,506

12,294,394

SEACOR

Marine

Holdings,

Inc.

(a)(b) ........

610,710

4,152,828

Seadrill

Ltd.

(a) ......................

1,771,021

69,689,676

Select

Water

Solutions,

Inc.

,

Class

A

.......

2,360,642

25,022,805

Solaris

Oilfield

Infrastructure,

Inc.

,

Class

A

...

643,212

8,451,806

TETRA

Technologies,

Inc.

(a)(b) ............

3,265,802

10,940,437

Tidewater,

Inc.

(a)(b) ...................

1,257,711

75,550,700

Transocean

Ltd.

(a)(b) ..................

18,859,673

81,850,981

Valaris

Ltd.

(a)(b) ......................

1,617,792

81,860,275

1,384,798,456

#### Entertainment

#### —

#### 0.5%
AMC

Entertainment

Holdings,

Inc.

,

Class

A

(a)(b) 8,716,406

38,265,022

Atlanta

Braves

Holdings,

Inc.

,

Class

A

(a)(b) ....

288,279

12,125,015

Atlanta

Braves

Holdings,

Inc.

,

Class

C,

NVS

(a)(b) 1,274,104

50,339,849

Cinemark

Holdings,

Inc.

(a)(b) .............

2,848,955

84,756,411

Eventbrite,

Inc.

,

Class

A

(a) ..............

2,134,252

6,829,606

Golden

Matrix

Group,

Inc.

(a)(b) ............

421,875

1,058,906

IMAX

Corp.

(a)(b) .....................

1,104,134

26,830,456

Lions

Gate

Entertainment

Corp.

,

Class

A

(a)(b) ..

1,696,260

13,400,454

Lions

Gate

Entertainment

Corp.

,

Class

B,

NVS

(a) .........................

3,029,248

21,356,198

LiveOne

,

Inc.

(a)(b) ....................

1,752,192

1,209,013

Madison

Square

Garden

Entertainment

Corp.

(a) 993,881

41,454,777

Marcus

Corp.

(The)

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

624,730

11,788,655

Playstudios

,

Inc.

,

Class

A

(a) .............

2,245,077

2,985,953

Reservoir

Media,

Inc.

(a)(b) ...............

478,184

3,983,273

Sphere

Entertainment

Co.

,

Class

A

(a)(b) ......

688,105

28,769,670

Vivid

Seats,

Inc.

,

Class

A

(a)(b) ............

1,994,005

8,115,600

353,268,858

#### Financial

#### Services

#### —

#### 2.8%
Acacia

Research

Corp.

(a)(b) ..............

884,268

3,996,891

Alerus

Financial

Corp.

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

505,711

10,230,534

AvidXchange

Holdings,

Inc.

(a) ............

4,487,302

36,975,368

Banco

Latinoamericano

de

Comercio

Exterior

SA

,

Class

E

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

751,940

24,039,522

Burford

Capital

Ltd.

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

5,192,809

70,102,921

Cannae

Holdings,

Inc.

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

1,531,403

30,398,350

Cantaloupe,

Inc.

(a)(b) ..................

1,532,968

13,582,096

Cass

Information

Systems,

Inc.

..........

378,332

15,647,811

Compass

Diversified

Holdings

...........

1,820,056

39,495,215

Enact

Holdings,

Inc.

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

822,508

28,039,298

Essent

Group

Ltd.

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

2,693,090

161,612,331

EVERTEC,

Inc.

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

1,628,480

53,349,005

Federal

Agricultural

Mortgage

Corp.

,

Class

C,

NVS

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

240,045

43,993,047

Flywire

Corp.

(a)(b) ....................

3,116,976

54,297,722

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

(b) ....................

2,904,084

101,613,899

I3

Verticals,

Inc.

,

Class

A

(a)(b) ............

584,948

13,447,955

International

Money

Express,

Inc.

(a)(b) .......

813,554

14,310,415

Jackson

Financial,

Inc.

,

Class

A

..........

1,716,369

171,551,082

Marqeta

,

Inc.

,

Class

A

(a) ...............

12,163,147

68,843,412

Merchants

Bancorp

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

492,877

18,206,876

Mr

Cooper

Group,

Inc.

(a)(b) ..............

1,671,952

148,051,350

NCR

Atleos

Corp.

(a)(b) .................

1,869,457

48,942,384

NewtekOne

,

Inc.

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

679,545

8,888,449

NMI

Holdings,

Inc.

,

Class

A

(a) ............

2,067,566

79,973,453

*Security*

*Shares*

*Shares*

*Value*

#### Financial

#### Services
(continued)

Onity

Group,

Inc.

(a) ...................

165,863

$

4,929,448

Pagseguro

Digital

Ltd.

,

Class

A

(a)(b) ........

4,908,851

39,467,162

Payoneer

Global,

Inc.

(a) ................

6,587,123

56,781,000

Paysafe

Ltd.

(a)(b) .....................

849,989

18,053,766

Paysign

,

Inc.

(a) ......................

821,954

2,967,254

PennyMac

Financial

Services,

Inc.

........

698,650

69,641,432

Priority

Technology

Holdings,

Inc.

(a) ........

418,745

2,257,036

Radian

Group,

Inc.

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

3,896,783

136,036,695

Remitly

Global,

Inc.

(a)(b) ................

3,795,302

68,239,530

Repay

Holdings

Corp.

,

Class

A

(a)(b) ........

2,366,123

18,822,508

Sezzle

,

Inc.

(a) ......................

61,373

13,174,328

StoneCo

Ltd.

,

Class

A

(a)(b) ..............

7,411,836

82,271,380

SWK

Holdings

Corp.

(a)(b) ...............

40,887

670,956

Velocity

Financial,

Inc.

(a)(b) ..............

240,102

4,612,359

Walker

&

Dunlop,

Inc.

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

838,270

91,681,590

Waterstone

Financial,

Inc.

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

491,908

7,250,724

1,876,446,554

#### Food

#### Products

#### —

#### 1.0%
Alico

,

Inc.

(b) ........................

175,661

4,305,451

B&G

Foods,

Inc.

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

1,968,178

16,768,877

Beyond

Meat,

Inc.

(a)(b) .................

1,544,617

9,406,718

BRC,

Inc.

,

Class

A

(a)(b) .................

1,329,005

4,159,786

Calavo

Growers,

Inc.

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

421,161

11,194,459

Cal-Maine

Foods,

Inc.

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

1,059,508

93,003,612

Dole

plc

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

1,964,968

31,734,233

Forafric

Global

plc

(a)(b) .................

50,415

518,266

Fresh

Del

Monte

Produce,

Inc.

...........

877,988

28,192,195

Hain

Celestial

Group,

Inc.

(The)

(a)(b) ........

2,294,991

20,035,271

J

&

J

Snack

Foods

Corp.

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

390,636

64,111,180

John

B

Sanfilippo

&

Son,

Inc.

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

223,537

18,444,038

Lancaster

Colony

Corp.

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

500,871

86,951,206

Lifeway

Foods,

Inc.

(a)(b) ................

116,763

3,107,063

Limoneira

Co.

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

423,654

10,862,489

Mama's

Creations,

Inc.

(a) ...............

824,525

6,142,711

Mission

Produce,

Inc.

(a)(b) ...............

1,098,895

12,966,961

Seneca

Foods

Corp.

,

Class

A

(a)(b) .........

120,109

7,426,339

Simply

Good

Foods

Co.

(The)

(a)(b) .........

2,338,763

78,722,763

SunOpta,

Inc.

(a)(b) ....................

2,364,148

15,473,349

TreeHouse

Foods,

Inc.

(a)(b) ..............

1,224,229

44,537,451

Utz

Brands,

Inc.

,

Class

A

(b) .............

1,657,758

28,546,593

Vital

Farms,

Inc.

(a)(b) ..................

838,879

29,092,324

Westrock

Coffee

Co.

(a)(b) ...............

819,335

5,440,384

WK

Kellogg

Co.

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

1,696,138

28,206,775

659,350,494

#### Gas

#### Utilities

#### —

#### 1.0%
Brookfield

Infrastructure

Corp.

,

Class

A

.....

3,099,111

127,311,480

Chesapeake

Utilities

Corp.

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

560,433

67,134,269

New

Jersey

Resources

Corp.

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

2,559,147

117,439,256

Northwest

Natural

Holding

Co.

...........

970,873

37,757,251

ONE

Gas,

Inc.

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

1,453,531

103,593,154

RGC

Resources,

Inc.

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

177,055

3,624,316

Southwest

Gas

Holdings,

Inc.

...........

1,577,336

115,539,862

Spire,

Inc.

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

1,471,171

93,948,980

666,348,568

#### Ground

#### Transportation

#### —

#### 0.5%
ArcBest

Corp.

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

607,258

63,264,138

Covenant

Logistics

Group,

Inc.

,

Class

A

.....

211,137

10,683,532

FTAI

Infrastructure,

Inc.

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

2,596,906

20,957,031

Heartland

Express,

Inc.

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

1,168,305

12,623,536

Hertz

Global

Holdings,

Inc.

(a)(b) ...........

3,200,979

8,898,722

Marten

Transport

Ltd.

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

1,421,901

22,011,028

PAM

Transportation

Services,

Inc.

(a)(b) ......

165,453

2,561,212

Proficient

Auto

Logistics,

Inc.

(a)(b) ..........

332,613

2,724,100

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Ground

#### Transportation
(continued)

RXO,

Inc.

(a)(b) .......................

3,490,562

$

98,398,943

Universal

Logistics

Holdings,

Inc.

.........

181,188

7,617,144

Werner

Enterprises,

Inc.

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

1,553,107

57,294,117

307,033,503

#### Health

#### Care

#### Equipment

#### &

#### Supplies

#### —

#### 3.1%
Accuray

,

Inc.

(a)(b) .....................

2,291,600

3,964,468

Alphatec

Holdings,

Inc.

(a)(b) ..............

2,671,313

20,969,807

AngioDynamics

,

Inc.

(a) ................

985,547

6,593,309

Artivion

,

Inc.

(a)(b) .....................

1,021,993

26,909,076

AtriCure

,

Inc.

(a)(b) ....................

1,219,386

40,459,227

Avanos

Medical,

Inc.

(a) ................

1,149,771

21,477,722

AxoGen

,

Inc.

(a)(b) ....................

1,101,379

15,419,306

Axonics

,

Inc.

(a) ......................

1,307,154

91,892,926

Bioventus,

Inc.

,

Class

A

(a)(b) .............

977,189

13,260,455

Cerus

Corp.

(a)(b) .....................

4,644,437

7,291,766

CONMED

Corp.

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

793,154

54,124,829

CVRx

,

Inc.

(a)(b) ......................

338,536

4,441,592

Embecta

Corp.

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

1,501,544

21,141,740

Fractyl

Health,

Inc.

(a)(b) .................

646,819

1,820,795

Glaukos

Corp.

(a)(b) ....................

1,263,400

167,084,650

Haemonetics

Corp.

(a)(b) ................

1,289,443

91,756,764

ICU

Medical,

Inc.

(a)(b) ..................

552,394

94,310,228

Inari

Medical,

Inc.

(a) ..................

1,361,737

65,908,071

Inmode

Ltd.

(a)(b) .....................

2,039,941

34,842,192

Inogen

,

Inc.

(a) ......................

624,722

5,453,823

Integer

Holdings

Corp.

(a)(b) ..............

862,371

107,149,597

Integra

LifeSciences

Holdings

Corp.

(a) ......

1,742,026

32,680,408

iRadimed

Corp.

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

172,234

8,485,969

iRhythm

Technologies,

Inc.

(a)(b) ...........

806,803

58,444,809

Lantheus

Holdings,

Inc.

(a)(b) .............

1,771,579

194,590,237

LeMaitre

Vascular,

Inc.

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

517,619

45,752,343

LivaNova

plc

(a)(b) .....................

1,401,543

72,347,650

Merit

Medical

Systems,

Inc.

(a)(b) ...........

1,480,390

146,055,277

Neogen

Corp.

(a)(b) ....................

5,606,505

80,060,891

NeuroPace

,

Inc.

(a) ...................

289,128

1,864,876

Nevro

Corp.

(a) ......................

943,680

5,199,677

Novocure

Ltd.

(a)(b) ....................

2,742,656

41,633,518

Omnicell,

Inc.

(a)(b) ....................

1,174,948

57,149,471

OraSure

Technologies,

Inc.

(a) ............

1,829,785

7,438,076

Orchestra

BioMed

Holdings,

Inc.

(a)(b) .......

520,424

2,680,184

Orthofix

Medical,

Inc.

(a) ................

852,288

13,798,543

OrthoPediatrics

Corp.

(a)(b) ...............

410,662

10,894,863

Paragon

28,

Inc.

(a)(b) ..................

1,208,541

6,405,267

PROCEPT

BioRobotics

Corp.

(a)(b) .........

1,093,019

98,371,710

Pulmonx

Corp.

(a)(b) ...................

978,930

6,118,313

Pulse

Biosciences,

Inc.

(a)(b) ..............

492,033

8,576,135

RxSight

,

Inc.

(a)(b) .....................

929,121

47,069,270

Sanara

Medtech

,

Inc.

(a)(b) ...............

94,653

3,123,549

Semler

Scientific,

Inc.

(a)(b) ...............

119,988

3,525,247

SI-BONE,

Inc.

(a)(b) ....................

1,034,472

14,275,714

Sight

Sciences,

Inc.

(a)(b) ................

861,864

4,309,320

STAAR

Surgical

Co.

(a) .................

1,271,071

36,848,348

Stereotaxis,

Inc.

(a)(b) ..................

1,310,144

2,567,882

Surmodics

,

Inc.

(a)(b) ...................

350,868

13,164,567

Tactile

Systems

Technology,

Inc.

(a) ........

581,615

8,439,234

Tandem

Diabetes

Care,

Inc.

(a)(b) ..........

1,671,675

52,440,445

TransMedics

Group,

Inc.

(a)(b) .............

826,553

67,752,549

Treace

Medical

Concepts,

Inc.

(a) ..........

1,245,472

5,803,900

UFP

Technologies,

Inc.

(a)(b) ..............

187,268

50,000,556

Utah

Medical

Products,

Inc.

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

56,965

3,610,442

Varex

Imaging

Corp.

(a) ................

988,273

12,976,025

Zimvie

,

Inc.

(a) .......................

709,620

9,767,919

*Security*

*Shares*

*Shares*

*Value*

#### Health

#### Care

#### Equipment

#### &

#### Supplies
(continued)

Zynex

,

Inc.

(a)(b) ......................

372,520

$

3,214,848

2,133,710,375

#### Health

#### Care

#### Providers

#### &

#### Services

#### —

#### 2.7%
Accolade,

Inc.

(a)(b) ....................

1,837,885

5,826,095

AdaptHealth

Corp.

(a)(b) .................

2,609,652

26,853,319

Addus

HomeCare

Corp.

(a) ..............

443,892

55,229,043

agilon

health,

Inc.

(a)(b) .................

7,948,700

20,269,185

AirSculpt

Technologies,

Inc.

(a)(b) ..........

287,413

1,635,380

Alignment

Healthcare,

Inc.

(a)(b) ...........

2,570,652

31,876,085

AMN

Healthcare

Services,

Inc.

(a)(b) ........

970,662

36,826,916

Ardent

Health

Partners,

Inc.

(a)(b) ..........

286,232

4,980,437

Astrana

Health,

Inc.

(a)(b) ................

1,103,961

59,371,023

Aveanna

Healthcare

Holdings,

Inc.

(a)(b) ......

1,330,215

6,185,500

BrightSpring

Health

Services,

Inc.

(a)(b) ......

1,362,915

20,402,838

Brookdale

Senior

Living,

Inc.

(a)(b) ..........

4,926,152

30,886,973

Castle

Biosciences,

Inc.

(a)(b) .............

665,543

23,074,376

Community

Health

Systems,

Inc.

(a)(b) .......

3,254,965

13,182,608

Concentra

Group

Holdings

Parent,

Inc.

(a) ....

560,390

11,359,105

CorVel

Corp.

(a) ......................

226,964

67,594,419

Cross

Country

Healthcare,

Inc.

(a) .........

841,037

9,596,232

DocGo

,

Inc.

(a)(b) .....................

2,622,150

9,203,747

Enhabit

,

Inc.

(a)(b) .....................

1,242,379

8,559,991

Ensign

Group,

Inc.

(The)

(b) ..............

1,434,018

222,258,450

Fulgent

Genetics,

Inc.

(a)(b) ..............

524,874

11,258,547

GeneDx

Holdings

Corp.

,

Class

A

(a)(b) .......

324,743

26,528,256

Guardant

Health,

Inc.

(a)(b) ...............

3,042,022

66,559,441

HealthEquity,

Inc.

(a)(b) .................

2,180,982

185,928,716

Hims

&

Hers

Health,

Inc.

,

Class

A

(a)(b) ......

4,882,459

91,936,703

InfuSystem

Holdings,

Inc.

(a) .............

444,434

2,751,046

Innovage

Holding

Corp.

(a)(b) .............

467,166

2,709,563

Joint

Corp.

(The)

(a)(b) ..................

300,389

3,319,298

LifeStance

Health

Group,

Inc.

(a)(b) .........

3,549,464

23,816,903

ModivCare

,

Inc.

(a)(b) ...................

290,984

4,705,211

Nano-X

Imaging

Ltd.

(a)(b) ...............

1,396,942

7,920,661

National

HealthCare

Corp.

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

322,278

37,393,916

National

Research

Corp.

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

371,657

6,738,141

NeoGenomics

,

Inc.

(a)(b) ................

3,290,163

44,713,315

OPKO

Health,

Inc.

(a)(b) .................

8,403,330

12,689,028

Option

Care

Health,

Inc.

(a)(b) .............

4,419,584

101,827,215

Owens

&

Minor,

Inc.

(a)(b) ................

1,957,170

24,875,631

PACS

Group,

Inc.

(a)(b) .................

1,014,450

43,296,726

Patterson

Cos.,

Inc.

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

2,042,139

42,905,340

Pediatrix

Medical

Group,

Inc.

(a) ...........

2,167,689

26,705,929

Pennant

Group,

Inc.

(The)

(a)(b) ...........

734,565

23,484,043

Performant

Financial

Corp.

(a)(b) ...........

1,771,213

6,890,019

Privia

Health

Group,

Inc.

(a)(b) .............

2,605,996

47,846,087

Progyny,

Inc.

(a)(b) ....................

2,159,971

32,507,564

Quipt

Home

Medical

Corp.

(a)(b) ...........

959,503

2,513,898

RadNet

,

Inc.

(a)(b) .....................

1,716,976

111,672,119

Select

Medical

Holdings

Corp.

...........

2,790,240

89,510,899

Sonida

Senior

Living,

Inc.

(a)(b) ............

91,900

2,417,889

Surgery

Partners,

Inc.

(a)(b) ..............

1,982,253

57,088,886

Talkspace

,

Inc.

(a)(b) ...................

3,118,621

9,761,284

US

Physical

Therapy,

Inc.

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

373,347

29,934,962

Viemed

Healthcare,

Inc.

(a) ..............

834,970

7,138,994

1,854,517,952

#### Health

#### Care

#### REITs

#### —

#### 0.7%
American

Healthcare

REIT,

Inc.

..........

2,115,298

56,266,927

CareTrust

REIT,

Inc.

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

3,698,467

120,828,917

Community

Healthcare

Trust,

Inc.

.........

689,038

12,926,353

Diversified

Healthcare

Trust

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

5,695,153

20,331,696

Global

Medical

REIT,

Inc.

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

1,564,366

14,220,087

LTC

Properties,

Inc.

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

1,113,006

42,516,829

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Health

#### Care

#### REITs
(continued)

National

Health

Investors,

Inc.

...........

1,095,618

$

83,979,120

Sabra

Health

Care

REIT,

Inc.

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

6,001,019

116,419,768

Strawberry

Fields

REIT,

Inc.

(b) ...........

94,968

1,202,295

Universal

Health

Realty

Income

Trust

......

331,888

13,129,489

481,821,481

#### Health

#### Care

#### Technology

#### —

#### 0.4%
Definitive

Healthcare

Corp.

,

Class

A

(a)(b) .....

1,401,354

5,815,619

Evolent

Health,

Inc.

,

Class

A

(a)(b) ..........

2,973,284

69,426,181

Health

Catalyst,

Inc.

(a) .................

1,505,112

11,694,720

HealthStream,

Inc.

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

608,681

17,794,789

LifeMD

,

Inc.

(a)(b) .....................

882,948

3,602,428

OptimizeRx

Corp.

(a)(b) .................

453,848

2,369,087

Phreesia,

Inc.

(a)(b) ....................

1,431,182

26,176,319

Schrodinger,

Inc.

(a)(b) ..................

1,448,855

25,492,604

Simulations

Plus,

Inc.

(b) ................

395,472

10,764,748

Teladoc

Health,

Inc.

(a)(b) ................

4,383,875

39,454,875

Waystar

Holding

Corp.

(a) ...............

1,117,384

31,878,965

244,470,335

#### Hotel

#### &

#### Resort

#### REITs

#### —

#### 0.8%
Apple

Hospitality

REIT,

Inc.

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

6,061,524

89,528,710

Braemar

Hotels

&

Resorts,

Inc.

..........

1,665,001

4,761,903

Chatham

Lodging

Trust

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

1,309,007

10,341,155

DiamondRock

Hospitality

Co.

(b) ..........

5,534,255

47,428,565

Pebblebrook

Hotel

Trust

(b) ..............

3,121,744

37,398,493

RLJ

Lodging

Trust

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

4,017,146

35,551,742

Ryman

Hospitality

Properties,

Inc.

........

1,533,300

164,139,765

Service

Properties

Trust

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

4,318,966

13,820,691

Summit

Hotel

Properties,

Inc.

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

2,725,315

16,678,928

Sunstone

Hotel

Investors,

Inc.

...........

5,352,117

54,002,861

Xenia

Hotels

&

Resorts,

Inc.

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

2,683,928

38,031,260

511,684,073

#### Hotels,

#### Restaurants

#### &

#### Leisure

#### —

#### 1.9%
Accel

Entertainment,

Inc.

,

Class

A

(a) .......

1,272,645

14,050,001

Bally's

Corp.

(a)(b) .....................

623,943

10,887,805

Biglari

Holdings,

Inc.

,

Class

B,

NVS

(a)(b) .....

17,642

3,004,609

BJ's

Restaurants,

Inc.

(a) ................

496,497

18,415,074

Bloomin'

Brands,

Inc.

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

2,078,222

34,477,703

Brinker

International,

Inc.

(a)(b) ............

1,146,637

117,771,086

Cheesecake

Factory,

Inc.

(The)

..........

1,259,961

58,235,397

Cracker

Barrel

Old

Country

Store,

Inc.

......

579,748

27,578,612

Dave

&

Buster's

Entertainment,

Inc.

(a)(b) .....

841,085

31,061,269

Denny's

Corp.

(a)(b) ....................

1,284,925

8,236,369

Despegar.com

Corp.

(a)(b) ...............

1,565,458

22,605,214

Dine

Brands

Global,

Inc.

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

413,312

12,581,217

El

Pollo

Loco

Holdings,

Inc.

(a) ............

664,623

8,121,693

Empire

Resorts,

Inc.

(a)(b)(d)

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

70,419

Everi

Holdings,

Inc.

(a) .................

2,049,068

27,314,076

First

Watch

Restaurant

Group,

Inc.

(a)(b) ......

766,697

13,030,016

Full

House

Resorts,

Inc.

(a)(b) .............

776,224

3,950,980

Global

Business

Travel

Group

I

(a)(b) ........

3,270,251

24,952,015

Golden

Entertainment,

Inc.

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

538,185

15,809,184

Hilton

Grand

Vacations,

Inc.

(a)(b) ..........

1,915,802

70,654,778

Inspired

Entertainment,

Inc.

(a)(b) ...........

566,952

5,408,722

International

Game

Technology

plc

........

2,960,313

60,153,560

Jack

in

the

Box,

Inc.

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

506,497

24,944,977

Krispy

Kreme,

Inc.

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

2,212,603

25,157,296

Kura

Sushi

USA,

Inc.

,

Class

A

(a)(b) .........

153,386

15,310,991

Life

Time

Group

Holdings,

Inc.

(a)(b) .........

1,544,244

34,405,756

Lindblad

Expeditions

Holdings,

Inc.

(a)(b) .....

902,889

8,532,301

Monarch

Casino

&

Resort,

Inc.

...........

323,026

25,360,771

Mondee

Holdings,

Inc.

,

Class

A

(a)(b) ........

1,113,958

1,414,727

Nathan's

Famous,

Inc.

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

53,004

4,464,527

ONE

Group

Hospitality,

Inc.

(The)

(a)(b) ......

502,890

1,719,884

*Security*

*Shares*

*Shares*

*Value*

#### Hotels,

#### Restaurants

#### &

#### Leisure
(continued)

Papa

John's

International,

Inc.

...........

856,504

$

44,872,245

PlayAGS

,

Inc.

(a) .....................

980,750

11,406,123

Portillo's,

Inc.

,

Class

A

(a)(b) ..............

1,376,292

17,795,456

Potbelly

Corp.

(a)(b) ....................

698,812

5,157,233

RCI

Hospitality

Holdings,

Inc.

(b) ...........

210,050

9,120,371

Red

Rock

Resorts,

Inc.

,

Class

A

..........

1,291,877

66,479,990

Rush

Street

Interactive,

Inc.

,

Class

A

(a)(b) ....

1,983,442

21,460,842

Sabre

Corp.

(a)(b) .....................

9,742,244

31,175,181

Shake

Shack,

Inc.

,

Class

A

(a)(b) ...........

980,748

119,327,609

Six

Flags

Entertainment

Corp.

...........

2,387,416

94,088,065

Super

Group

SGHC

Ltd.

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

3,775,259

15,478,562

Sweetgreen,

Inc.

,

Class

A

(a)(b) ............

2,544,742

91,865,186

Target

Hospitality

Corp.

(a)(b) .............

852,461

6,359,359

United

Parks

&

Resorts,

Inc.

(a)(b) ..........

920,237

48,432,073

Vacasa

,

Inc.

,

Class

A

(a)(b) ...............

176,377

447,998

Xponential

Fitness,

Inc.

,

Class

A

(a)(b) .......

608,538

7,454,590

1,320,531,494

#### Household

#### Durables

#### —

#### 2.2%
Beazer

Homes

USA,

Inc.

(a) .............

744,472

22,899,959

Cavco

Industries,

Inc.

(a)(b) ...............

211,932

86,848,674

Century

Communities,

Inc.

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

724,981

64,276,815

Champion

Homes,

Inc.

(a) ...............

1,376,045

121,408,450

Cricut,

Inc.

,

Class

A

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

1,234,413

8,122,438

Dream

Finders

Homes,

Inc.

,

Class

A

(a)(b) .....

715,731

21,364,570

Ethan

Allen

Interiors,

Inc.

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

571,911

15,824,777

Flexsteel

Industries,

Inc.

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

114,250

6,651,635

GoPro,

Inc.

,

Class

A

(a)(b) ................

3,483,233

4,702,365

Green

Brick

Partners,

Inc.

(a)(b) ............

792,947

54,721,272

Hamilton

Beach

Brands

Holding

Co.

,

Class

A

.

210,608

5,823,311

Helen

of

Troy

Ltd.

(a)(b) .................

585,069

37,239,642

Hooker

Furnishings

Corp.

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

261,040

4,184,471

Hovnanian

Enterprises,

Inc.

,

Class

A

(a) ......

128,111

22,552,660

Installed

Building

Products,

Inc.

..........

618,375

134,125,538

iRobot

Corp.

(a)(b) .....................

734,638

6,413,390

KB

Home

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

1,748,089

137,224,987

Landsea

Homes

Corp.

(a)(b) ..............

466,852

4,845,924

La-Z-Boy,

Inc.

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

1,091,335

41,525,297

Legacy

Housing

Corp.

(a)(b) ..............

244,339

6,059,607

LGI

Homes,

Inc.

(a)(b) ..................

527,590

53,582,040

Lifetime

Brands,

Inc.

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

265,207

1,527,592

Lovesac

Co.

(The)

(a)(b) .................

361,190

10,532,300

M/I

Homes,

Inc.

(a) ....................

689,543

104,527,823

Meritage

Homes

Corp.

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

925,065

167,621,778

Purple

Innovation,

Inc.

(a)(b) ..............

1,398,349

1,248,586

Sonos,

Inc.

(a)(b) ......................

3,167,272

39,685,918

Taylor

Morrison

Home

Corp.

(a) ...........

2,668,633

182,801,360

Traeger,

Inc.

(a)(b) .....................

875,607

2,714,382

TRI

Pointe

Homes,

Inc.

(a) ...............

2,363,797

95,568,313

United

Homes

Group,

Inc.

,

Class

A

(a)(b) ......

95,686

515,748

Vizio

Holding

Corp.

,

Class

A

(a)(b) ..........

2,332,691

25,962,851

Worthington

Enterprises,

Inc.

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

811,346

31,074,552

1,524,179,025

#### Household

#### Products

#### —

#### 0.3%
Central

Garden

&

Pet

Co.

(a)(b) ............

278,013

9,535,846

Central

Garden

&

Pet

Co.

,

Class

A,

NVS

(a) ...

1,304,783

38,021,376

Energizer

Holdings,

Inc.

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

1,843,094

59,108,024

Oil-

Dri

Corp.

of

America

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

123,796

8,399,559

Co.

(b) .......................

349,482

91,588,748

206,653,553

#### Independent

#### Power

#### and

#### Renewable

#### Electricity

#### Producers

#### —

#### 0.2%
(b) Altus

Power,

Inc.

,

Class

A

(a) .............

1,925,319

6,623,097

Montauk

Renewables,

Inc.

(a) ............

1,688,515

9,337,488

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Independent

#### Power

#### and

#### Renewable

#### Electricity

#### Producers
(continued)

Ormat

Technologies,

Inc.

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

1,401,076

$

110,713,026

Sunnova

Energy

International,

Inc.

(a) .......

2,814,138

17,081,818

143,755,429

#### Industrial

#### Conglomerates

#### —

#### 0.0%
Brookfield

Business

Corp.

,

Class

A

........

689,567

16,418,590

#### Industrial

#### REITs

#### —

#### 0.5%
Industrial

Logistics

Properties

Trust

........

1,647,814

5,825,022

Innovative

Industrial

Properties,

Inc.

.......

736,998

95,212,772

LXP

Industrial

Trust

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

7,554,734

71,316,689

Plymouth

Industrial

REIT,

Inc.

...........

1,027,718

20,883,230

Terreno

Realty

Corp.

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

2,465,226

147,790,299

341,028,012

#### Insurance

#### —

#### 2.0%
Ambac

Financial

Group,

Inc.

(a) ...........

1,147,732

12,980,849

American

Coastal

Insurance

Corp.

(a) .......

671,352

8,156,927

AMERISAFE,

Inc.

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

505,257

27,309,141

Baldwin

Insurance

Group,

Inc.

(The)

,

Class

A

(a) (b) ............................

1,702,385

78,752,330

Bowhead

Specialty

Holdings,

Inc.

(a) ........

149,828

4,361,493

CNO

Financial

Group,

Inc.

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

2,784,807

95,797,361

Crawford

&

Co.

,

Class

A,

NVS

...........

472,505

5,263,706

Donegal

Group,

Inc.

,

Class

A

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

445,519

6,754,068

Employers

Holdings,

Inc.

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

595,513

29,013,393

Enstar

Group

Ltd.

(a) ..................

333,131

107,434,748

F&G

Annuities

&

Life,

Inc.

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

467,394

18,742,499

Fidelis

Insurance

Holdings

Ltd.

...........

1,379,861

23,816,401

Genworth

Financial,

Inc.

,

Class

A

(a) ........

10,070,018

67,871,921

GoHealth

,

Inc.

,

Class

A

(a)(b) .............

105,429

1,195,565

Goosehead

Insurance,

Inc.

,

Class

A

(a)(b) .....

578,771

63,028,162

Greenlight

Capital

Re

Ltd.

,

Class

A

(a)(b) ......

748,603

10,091,169

Hamilton

Insurance

Group

Ltd.

,

Class

B

(a)(b) ..

1,037,438

18,072,170

HCI

Group,

Inc.

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

216,014

24,476,546

Heritage

Insurance

Holdings,

Inc.

(a) ........

611,322

6,327,183

Hippo

Holdings,

Inc.

(a)(b) ................

521,962

11,571,898

Horace

Mann

Educators

Corp.

...........

1,022,216

38,067,324

Investors

Title

Co.

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

40,691

9,411,015

James

River

Group

Holdings

Ltd.

.........

868,026

5,399,122

Kingsway

Financial

Services,

Inc.

(a)(b) .......

354,054

3,168,783

Lemonade,

Inc.

(a)(b) ...................

1,339,234

31,833,592

Maiden

Holdings

Ltd.

(a)(b) ...............

2,253,192

3,481,182

MBIA,

Inc.

(a) .......................

1,187,138

4,677,324

Mercury

General

Corp.

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

701,860

47,466,792

NI

Holdings,

Inc.

(a) ...................

209,014

3,281,520

Oscar

Health,

Inc.

,

Class

A

(a)(b) ...........

5,028,268

84,474,902

Palomar

Holdings,

Inc.

(a) ...............

635,351

57,035,459

ProAssurance

Corp.

(a) .................

1,263,299

18,810,522

Root,

Inc.

,

Class

A

(a)(b) .................

230,619

15,772,033

Safety

Insurance

Group,

Inc.

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

390,579

30,568,665

Selective

Insurance

Group,

Inc.

..........

1,581,473

143,629,378

Selectquote

,

Inc.

(a)(b) ..................

3,774,301

7,548,602

SiriusPoint

Ltd.

(a)(b) ...................

2,673,996

35,136,307

Skyward

Specialty

Insurance

Group,

Inc.

(a) ...

966,409

42,724,942

Stewart

Information

Services

Corp.

........

647,873

44,573,662

Tiptree,

Inc.

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

662,815

13,528,054

Trupanion

,

Inc.

(a)(b) ...................

862,785

47,263,362

United

Fire

Group,

Inc.

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

567,760

11,150,806

Universal

Insurance

Holdings,

Inc.

........

670,942

13,378,584

1,333,399,462

#### Interactive

#### Media

#### &

#### Services

#### —

#### 0.6%
Bumble,

Inc.

,

Class

A

(a)(b) ...............

2,495,122

17,665,464

Cargurus

,

Inc.

,

Class

A

(a) ...............

2,293,506

71,144,556

*Security*

*Shares*

*Shares*

*Value*

#### Interactive

#### Media

#### &

#### Services
(continued)

Cars.com,

Inc.

(a) .....................

1,716,335

$

27,444,197

EverQuote

,

Inc.

,

Class

A

(a)(b) .............

660,771

11,880,663

fuboTV

,

Inc.

(a)(b) .....................

7,744,830

13,476,004

Getty

Images

Holdings,

Inc.

,

Class

A

(a)(b) ....

2,544,448

10,559,459

Grindr,

Inc.

(a)(b) ......................

658,649

8,812,724

MediaAlpha

,

Inc.

,

Class

A

(a)(b) ............

779,691

13,356,107

Nextdoor

Holdings,

Inc.

,

Class

A

(a)(b) .......

4,488,583

10,862,371

Outbrain,

Inc.

(a) .....................

1,019,746

4,374,710

QuinStreet

,

Inc.

(a) ....................

1,374,788

28,870,548

Shutterstock,

Inc.

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

647,961

20,793,068

System1,

Inc.

,

Class

A

(a)(b) ..............

767,908

752,550

TrueCar,

Inc.

(a)(b) .....................

2,196,658

8,588,933

Vimeo,

Inc.

(a) .......................

3,846,303

18,346,865

Webtoon

Entertainment,

Inc.

(a)(b) ..........

402,255

4,183,452

Yelp,

Inc.

(a) ........................

1,696,063

57,903,591

Ziff

Davis,

Inc.

(a)(b) ....................

1,172,772

54,264,160

ZipRecruiter,

Inc.

,

Class

A

(a)(b) ............

1,842,226

17,077,435

400,356,857

#### IT

#### Services

#### —

#### 0.6%
Applied

Digital

Corp.

(a)(b) ...............

3,051,286

20,626,693

ASGN,

Inc.

(a)(b) ......................

1,174,615

108,182,042

Backblaze

,

Inc.

,

Class

A

(a) ..............

1,057,749

7,636,948

BigBear.ai

Holdings,

Inc.

(a)(b) .............

2,669,563

4,244,605

BigCommerce

Holdings,

Inc.

(a)(b) ..........

1,836,652

9,624,056

Core

Scientific,

Inc.

(a)(b) ................

4,591,754

61,024,411

Couchbase,

Inc.

(a) ...................

1,020,699

16,402,633

DigitalOcean

Holdings,

Inc.

(a)(b) ...........

1,695,518

67,108,602

Fastly,

Inc.

,

Class

A

(a)(b) ................

3,328,335

24,063,862

Grid

Dynamics

Holdings,

Inc.

,

Class

A

(a)(b) ...

1,501,626

23,905,886

Hackett

Group,

Inc.

(The)

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

601,169

14,620,430

Information

Services

Group,

Inc.

..........

1,010,205

3,101,329

Rackspace

Technology,

Inc.

(a)(b) ..........

1,772,726

4,227,952

Thoughtworks

Holding,

Inc.

(a)(b) ...........

2,624,680

11,653,579

Tucows

,

Inc.

,

Class

A

(a)(b) ...............

202,561

3,751,430

Unisys

Corp.

(a)(b) .....................

1,743,764

12,049,409

392,223,867

#### Leisure

#### Products

#### —

#### 0.5%
Acushnet

Holdings

Corp.

(b) .............

751,115

46,043,349

AMMO,

Inc.

(a)(b) .....................

2,349,224

2,537,162

Clarus

Corp.

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

647,880

2,727,575

Escalade,

Inc.

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

235,170

3,064,265

Funko,

Inc.

,

Class

A

(a) .................

803,000

9,507,520

JAKKS

Pacific,

Inc.

(a) .................

208,484

6,577,670

Johnson

Outdoors,

Inc.

,

Class

A

..........

119,685

3,784,440

Latham

Group,

Inc.

(a)(b) ................

1,064,686

6,920,459

Malibu

Boats,

Inc.

,

Class

A

(a)(b) ...........

511,735

22,966,667

Marine

Products

Corp.

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

193,196

1,817,974

MasterCraft

Boat

Holdings,

Inc.

(a)(b) ........

436,115

7,570,956

Peloton

Interactive,

Inc.

,

Class

A

(a)(b) .......

8,823,984

75,003,864

Smith

&

Wesson

Brands,

Inc.

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

1,174,530

15,216,036

Solo

Brands,

Inc.

,

Class

A

(a)(b) ............

491,991

614,989

Sturm

Ruger

&

Co.,

Inc.

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

396,271

15,581,376

Topgolf

Callaway

Brands

Corp.

(a)(b) ........

3,648,913

35,430,945

Vista

Outdoor,

Inc.

(a) ..................

1,502,146

66,049,360

321,414,607

#### Life

#### Sciences

#### Tools

#### &

#### Services

#### —

#### 0.3%
Adaptive

Biotechnologies

Corp.

(a)(b) ........

2,993,615

14,489,097

Akoya

Biosciences,

Inc.

(a)(b) .............

649,386

1,828,022

BioLife

Solutions,

Inc.

(a)(b) ...............

936,842

21,922,103

ChromaDex

Corp.

(a)(b) .................

1,210,404

4,224,310

Codexis,

Inc.

(a)(b) ....................

1,811,668

5,688,638

CryoPort

,

Inc.

(a)(b) ....................

1,115,591

7,429,836

Cytek

Biosciences,

Inc.

(a)(b) .............

3,121,619

15,436,406

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Life

#### Sciences

#### Tools

#### &

#### Services
(continued)

Harvard

Bioscience,

Inc.

(a) ..............

952,121

$

2,237,484

Lifecore

Biomedical,

Inc.

(a)(b) .............

480,764

2,730,740

Maravai

LifeSciences

Holdings,

Inc.

,

Class

A

(a)(b) 2,848,723

21,109,037

MaxCyte,

Inc.

(a)(b) ....................

2,710,468

9,703,475

Mesa

Laboratories,

Inc.

(b) ..............

131,945

15,047,008

Nautilus

Biotechnology,

Inc.

(a)(b) ..........

1,202,875

3,127,475

OmniAb

,

Inc.

(a)(b) ....................

2,299,475

9,404,853

OmniAb

,

Inc.,

12.50 Earnout

Shares

(a)(d) .....

130,676

OmniAb

,

Inc.,

15.00 Earnout

Shares

(a)(d) .....

130,676

Pacific

Biosciences

of

California,

Inc.

(a)(b) ....

7,047,500

15,293,075

Quanterix

Corp.

(a)(b) ..................

926,529

12,244,081

Quantum-Si,

Inc.

,

Class

A

(a)(b) ............

2,441,722

1,711,647

Standard

BioTools

,

Inc.

(a)(b) ..............

7,569,238

14,835,706

178,462,995

#### Machinery

#### —

#### 3.7%
374Water,

Inc.

(a)(b) ...................

1,322,092

2,062,464

3D

Systems

Corp.

(a)(b) .................

3,254,301

9,762,903

Alamo

Group,

Inc.

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

261,299

44,300,632

Albany

International

Corp.

,

Class

A

........

795,795

54,050,396

Astec

Industries,

Inc.

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

585,972

18,622,190

Atmus

Filtration

Technologies,

Inc.

........

2,150,718

83,748,959

Barnes

Group,

Inc.

...................

1,189,797

55,634,908

Blue

Bird

Corp.

(a)(b) ...................

829,524

34,931,256

Chart

Industries,

Inc.

(a)(b) ...............

1,105,643

133,473,223

Columbus

McKinnon

Corp.

.............

720,778

22,927,948

Commercial

Vehicle

Group,

Inc.

(a) .........

799,717

2,327,176

Douglas

Dynamics,

Inc.

...............

566,022

12,820,398

Eastern

Co.

(The)

...................

116,942

3,641,574

Energy

Recovery,

Inc.

(a)(b) ..............

1,450,307

25,902,483

Enerpac

Tool

Group

Corp.

,

Class

A

(b) .......

1,386,650

61,178,998

Enpro

,

Inc.

........................

541,228

78,808,209

ESCO

Technologies,

Inc.

(b) .............

660,519

82,921,555

Federal

Signal

Corp.

.................

1,547,693

126,245,318

Franklin

Electric

Co.,

Inc.

..............

1,144,874

109,575,891

Gencor

Industries,

Inc.

(a) ...............

235,662

4,694,387

Gorman-Rupp

Co.

(The)

...............

516,495

19,084,490

Graham

Corp.

(a) .....................

258,823

7,252,220

Greenbrier

Cos.,

Inc.

(The)

.............

788,587

46,739,552

Helios

Technologies,

Inc.

(b) .............

846,732

39,059,747

Hillenbrand,

Inc.

....................

1,806,669

49,773,731

Hillman

Solutions

Corp.

(a) ..............

4,954,634

52,519,120

Hyliion

Holdings

Corp.

,

Class

A

(a)(b) ........

3,664,200

8,757,438

Hyster-Yale,

Inc.

....................

297,747

18,898,002

John

Bean

Technologies

Corp.

(b) ..........

809,727

90,219,782

Kadant

,

Inc.

(b) ......................

301,051

100,268,046

Kennametal,

Inc.

....................

2,052,373

51,966,084

L

B

Foster

Co.

,

Class

A

(a)(b) .............

225,820

4,256,707

Lindsay

Corp.

......................

271,687

32,520,934

Luxfer

Holdings

plc

..................

682,822

9,805,324

Manitowoc

Co.,

Inc.

(The)

(a)(b) ............

902,413

8,428,537

Mayville

Engineering

Co.,

Inc.

(a) ..........

316,344

6,475,562

Miller

Industries,

Inc.

.................

278,751

18,297,216

Mueller

Industries,

Inc.

................

2,889,323

236,837,806

Mueller

Water

Products,

Inc.

,

Class

A

......

3,994,787

86,247,451

NN,

Inc.

(a)(b) ........................

1,091,632

3,438,641

Omega

Flex,

Inc.

....................

72,008

3,681,049

Park-Ohio

Holdings

Corp.

..............

219,558

6,250,816

Proto

Labs,

Inc.

(a) ....................

649,858

17,806,109

REV

Group,

Inc.

....................

1,337,360

35,440,040

Shyft

Group,

Inc.

(The)

................

867,790

11,211,847

SPX

Technologies,

Inc.

(a)(b) ..............

1,163,159

166,901,685

Standex

International

Corp.

.............

296,518

54,523,730

Taylor

Devices,

Inc.

(a)(b) ................

52,989

2,491,543

Tennant

Co.

.......................

483,869

42,367,570

*Security*

*Shares*

*Shares*

*Value*

#### Machinery
(continued)

Terex

Corp.

........................

1,710,908

$

88,471,053

Titan

International,

Inc.

(a)(b) ..............

1,286,899

8,287,630

Trinity

Industries,

Inc.

.................

2,103,080

72,093,582

Twin

Disc,

Inc.

(b) .....................

218,592

2,537,853

Wabash

National

Corp.

................

1,116,483

19,471,464

Watts

Water

Technologies,

Inc.

,

Class

A

.....

702,401

133,870,607

2,523,883,836

#### Marine

#### Transportation

#### —

#### 0.3%
Costamare

,

Inc.

.....................

1,112,921

15,146,855

Genco

Shipping

&

Trading

Ltd.

...........

1,099,506

17,306,224

Golden

Ocean

Group

Ltd.

..............

3,159,017

33,864,662

Himalaya

Shipping

Ltd.

(a) ...............

709,135

4,651,926

Matson,

Inc.

.......................

879,946

136,294,836

Pangaea

Logistics

Solutions

Ltd.

.........

848,479

5,447,235

Safe

Bulkers,

Inc.

...................

1,651,174

6,918,419

219,630,157

#### Media

#### —

#### 0.8%
Advantage

Solutions,

Inc.

,

Class

A

(a)(b) ......

2,749,043

8,412,072

AMC

Networks,

Inc.

,

Class

A

(a) ...........

851,016

6,893,230

Boston

Omaha

Corp.

,

Class

A

(a)(b) .........

592,652

8,747,544

Cable

One,

Inc.

.....................

145,490

49,693,564

Cardlytics,

Inc.

(a)(b) ...................

1,044,374

4,501,252

Clear

Channel

Outdoor

Holdings,

Inc.

(a) .....

9,279,539

13,640,922

EchoStar

Corp.

,

Class

A

(a)(b) .............

3,132,175

78,492,305

Emerald

Holding,

Inc.

(b) ................

400,386

1,577,521

Entravision

Communications

Corp.

,

Class

A

..

1,613,263

3,742,770

EW

Scripps

Co.

(The)

,

Class

A

(a) .........

1,561,835

5,239,956

Gambling.com

Group

Ltd.

(a)(b) ............

399,598

3,848,129

Gannett

Co.,

Inc.

(a)(b) ..................

3,673,053

17,226,619

Gray

Television,

Inc.

..................

2,235,345

12,763,820

Ibotta,

Inc.

,

Class

A

(a)(b) ................

198,031

14,513,692

iHeartMedia,

Inc.

,

Class

A

(a)(b) ............

2,603,236

5,154,407

Innovid

Corp.

(a)(b) ....................

2,403,414

4,590,521

Integral

Ad

Science

Holding

Corp.

(a)(b) ......

1,859,195

22,012,869

John

Wiley

&

Sons,

Inc.

,

Class

A

.........

938,892

46,287,376

Magnite

,

Inc.

(a)(b) .....................

3,248,274

40,538,459

National

CineMedia

,

Inc.

(a)(b) .............

1,846,412

13,275,702

PubMatic,

Inc.

,

Class

A

(a) ...............

1,081,127

15,897,973

Scholastic

Corp.

....................

599,818

14,893,481

Sinclair,

Inc.

,

Class

A

(b) ................

852,286

14,718,979

Stagwell

,

Inc.

,

Class

A

(a)(b) ..............

2,237,529

13,895,055

TechTarget,

Inc.

(a)(b) ..................

672,266

19,458,739

TEGNA,

Inc.

.......................

4,374,063

71,865,855

Thryv

Holdings,

Inc.

(a) .................

809,907

11,646,463

Townsquare

Media,

Inc.

,

Class

A

.........

326,412

3,198,838

WideOpenWest

,

Inc.

(a) ................

1,299,677

6,485,388

533,213,501

#### Metals

#### &

#### Mining

#### —

#### 1.7%
Alpha

Metallurgical

Resources,

Inc.

.......

283,411

59,034,511

Arch

Resources,

Inc.

,

Class

A

...........

452,231

66,369,422

Caledonia

Mining

Corp.

plc

.............

382,329

5,700,525

Carpenter

Technology

Corp.

............

1,227,619

183,529,040

Century

Aluminum

Co.

(a)(b) ..............

1,384,645

24,438,984

Coeur

Mining,

Inc.

(a)(b) .................

10,235,744

65,918,191

Commercial

Metals

Co.

................

2,996,965

161,236,717

Compass

Minerals

International,

Inc.

(b) ......

887,762

10,928,350

Constellium

SE

,

Class

A

(a)(b) .............

3,400,047

37,740,522

Contango

ORE,

Inc.

(a)(b) ................

251,237

5,404,108

Critical

Metals

Corp.

(a)(b) ................

176,841

1,092,877

Dakota

Gold

Corp.

(a)(b) .................

1,578,148

3,456,144

Haynes

International,

Inc.

..............

307,802

18,578,929

Hecla

Mining

Co.

....................

15,177,284

98,500,573

Gold

Corp.

(a)(b) ...................

7,852,876

8,245,520

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Metals

#### &

#### Mining
(continued)

Ivanhoe

Electric,

Inc.

(a)(b) ...............

2,146,638

$

21,788,376

Kaiser

Aluminum

Corp.

................

413,306

30,692,104

Lifezone

Metals

Ltd.

(a)(b) ................

891,818

5,725,472

Materion

Corp.

.....................

533,281

54,197,348

Metallus

,

Inc.

(a) .....................

1,089,692

15,353,760

Metals

Acquisition

Ltd.

,

Class

A

(a)(b) ........

1,361,809

16,314,472

Novagold

Resources,

Inc.

(a)(b) ............

6,307,921

21,825,407

Olympic

Steel,

Inc.

...................

262,974

9,435,507

Perpetua

Resources

Corp.

(a)(b) ...........

1,018,179

10,410,880

Piedmont

Lithium,

Inc.

(a)(b) ..............

471,086

6,171,227

Radius

Recycling,

Inc.

,

Class

A

..........

672,732

10,891,531

Ramaco

Resources,

Inc.

,

Class

A

.........

692,120

7,025,018

Ramaco

Resources,

Inc.

,

Class

B

.........

108,139

1,105,181

Ryerson

Holding

Corp.

................

725,270

15,803,633

SSR

Mining,

Inc.

....................

5,196,418

32,061,899

SunCoke

Energy,

Inc.

.................

2,178,435

22,459,665

Tredegar

Corp.

(a) ....................

682,123

5,286,453

Universal

Stainless

&

Alloy

Products,

Inc.

(a) ..

224,746

9,825,895

Warrior

Met

Coal,

Inc.

(b) ................

1,332,088

84,094,715

Worthington

Steel,

Inc.

................

832,991

31,853,576

1,162,496,532

#### Mortgage

#### Real

#### Estate

#### Investment

#### Trusts
(REITs)

#### —

#### 0.9%
Advanced

Flower

Capital,

Inc.

...........

463,846

4,522,499

AG

Mortgage

Investment

Trust,

Inc.

.......

701,323

5,112,645

Angel

Oak

Mortgage

REIT,

Inc.

..........

359,546

3,243,105

Apollo

Commercial

Real

Estate

Finance,

Inc.

.

3,736,276

33,215,494

Arbor

Realty

Trust,

Inc.

(b) ...............

3,767,702

55,535,928

Ares

Commercial

Real

Estate

Corp.

.......

1,450,047

9,207,798

ARMOUR

Residential

REIT,

Inc.

..........

1,265,236

23,723,175

Blackstone

Mortgage

Trust,

Inc.

,

Class

A

....

4,528,415

82,462,437

BrightSpire

Capital,

Inc.

,

Class

A

.........

3,554,010

21,608,381

Chicago

Atlantic

Real

Estate

Finance,

Inc.

...

442,528

6,691,023

Chimera

Investment

Corp.

..............

2,071,361

31,277,551

Claros

Mortgage

Trust,

Inc.

.............

2,275,749

14,314,461

Dynex

Capital,

Inc.

...................

1,837,068

22,430,600

Ellington

Financial,

Inc.

................

2,148,945

25,980,745

Franklin

BSP

Realty

Trust,

Inc.

...........

2,092,641

27,225,259

Granite

Point

Mortgage

Trust,

Inc.

........

1,334,837

3,977,814

Invesco

Mortgage

Capital,

Inc.

...........

1,290,859

10,417,232

KKR

Real

Estate

Finance

Trust,

Inc.

.......

1,497,790

17,359,386

Ladder

Capital

Corp.

,

Class

A

...........

3,152,427

35,969,192

MFA

Financial,

Inc.

...................

2,690,635

33,067,904

New

York

Mortgage

Trust,

Inc.

...........

2,394,171

13,814,367

Nexpoint

Real

Estate

Finance,

Inc.

........

221,573

3,352,400

Orchid

Island

Capital,

Inc.

..............

1,798,825

13,617,105

PennyMac

Mortgage

Investment

Trust

......

2,347,109

31,639,029

Ready

Capital

Corp.

..................

4,451,767

30,494,604

Redwood

Trust,

Inc.

..................

3,504,124

25,650,188

Seven

Hills

Realty

Trust

...............

319,350

4,030,197

Sunrise

Realty

Trust,

Inc.

(b) .............

146,515

2,010,186

TPG

RE

Finance

Trust,

Inc.

.............

1,582,786

13,944,345

Two

Harbors

Investment

Corp.

...........

2,686,610

30,896,015

636,791,065

#### Multi-Utilities

#### —

#### 0.4%
Avista

Corp.

.......................

2,067,118

77,475,582

Black

Hills

Corp.

....................

1,795,626

106,283,103

Northwestern

Energy

Group,

Inc.

.........

1,590,971

85,053,310

Unitil

Corp.

........................

394,799

22,854,914

291,666,909

#### Office

#### REITs

#### —

#### 0.8%
Brandywine

Realty

Trust

...............

4,415,162

22,384,871

City

Office

REIT,

Inc.

.................

1,043,927

5,344,906

COPT

Defense

Properties

..............

2,929,122

94,317,728

*Security*

*Shares*

*Shares*

*Value*

#### Office

#### REITs
(continued)

Douglas

Emmett,

Inc.

.................

2,814,237

$

50,065,276

Easterly

Government

Properties,

Inc.

......

2,464,235

33,415,027

Equity

Commonwealth

(a) ...............

2,669,383

52,827,090

Franklin

Street

Properties

Corp.

..........

2,401,039

4,249,839

Hudson

Pacific

Properties,

Inc.

...........

3,535,869

15,274,954

JBG

SMITH

Properties

................

2,172,167

36,926,839

NET

Lease

Office

Properties

(b) ...........

386,166

11,600,427

Orion

Office

REIT,

Inc.

................

1,408,506

5,253,727

Paramount

Group,

Inc.

................

4,800,478

23,282,318

Peakstone

Realty

Trust

,

Class

E

.........

963,204

12,637,237

Piedmont

Office

Realty

Trust,

Inc.

,

Class

A

...

3,290,834

32,710,890

Postal

Realty

Trust,

Inc.

,

Class

A

.........

437,185

6,361,042

SL

Green

Realty

Corp.

................

1,700,285

128,558,549

535,210,720

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### —

#### 3.1%
Aemetis

,

Inc.

(a)(b) ....................

930,417

2,484,213

Amplify

Energy

Corp.

(a)(b) ...............

996,874

6,599,306

Ardmore

Shipping

Corp.

...............

1,052,977

14,857,505

Berry

Corp.

........................

2,086,708

10,475,274

California

Resources

Corp.

.............

1,779,313

92,470,897

Centrus

Energy

Corp.

,

Class

A

(a)(b) ........

360,184

37,390,701

Clean

Energy

Fuels

Corp.

(a)(b) ............

4,372,694

12,374,724

CNX

Resources

Corp.

(a)(b) ..............

3,835,615

130,525,978

Comstock

Resources,

Inc.

(b) .............

2,414,108

27,907,088

CONSOL

Energy,

Inc.

.................

754,373

83,675,053

Crescent

Energy,

Inc.

,

Class

A

...........

3,665,889

45,567,000

CVR

Energy,

Inc.

....................

915,931

14,563,303

Delek

US

Holdings,

Inc.

...............

1,650,162

25,858,039

DHT

Holdings,

Inc.

...................

3,406,436

35,154,420

Diversified

Energy

Co.

plc

(c) .............

1,204,426

14,453,112

Dorian

LPG

Ltd.

.....................

933,412

26,928,936

Empire

Petroleum

Corp.

(a)(b) .............

350,742

1,816,844

Encore

Energy

Corp.

(a)(b) ...............

4,572,489

17,878,432

Energy

Fuels,

Inc.

(a)(b) .................

4,708,177

28,343,226

Evolution

Petroleum

Corp.

..............

723,511

3,726,082

Excelerate

Energy,

Inc.

,

Class

A

..........

448,307

10,705,571

FLEX

LNG

Ltd.

.....................

734,161

17,986,944

FutureFuel

Corp.

....................

669,407

4,043,218

Golar

LNG

Ltd.

.....................

2,534,135

91,887,735

Granite

Ridge

Resources,

Inc.

...........

1,306,423

7,747,088

Green

Plains,

Inc.

(a)(b) .................

1,662,637

20,334,051

Gulfport

Energy

Corp.

(a)(b) ..............

333,283

46,139,699

Hallador

Energy

Co.

(a)(b) ................

665,172

6,605,158

HighPeak

Energy,

Inc.

(b) ...............

365,322

4,676,122

International

Seaways,

Inc.

.............

1,027,724

44,747,103

Kinetik

Holdings,

Inc.

,

Class

A

...........

968,456

47,134,754

Kosmos

Energy

Ltd.

(a) .................

12,073,302

45,395,616

Magnolia

Oil

&

Gas

Corp.

,

Class

A

........

4,481,539

113,293,306

Murphy

Oil

Corp.

....................

3,810,573

119,956,838

NACCO

Industries,

Inc.

,

Class

A

..........

97,534

3,053,790

NextDecade

Corp.

(a)(b) .................

2,925,481

17,084,809

Nordic

American

Tankers

Ltd.

...........

4,987,384

16,308,746

Northern

Oil

&

Gas,

Inc.

...............

2,559,634

92,786,733

Par

Pacific

Holdings,

Inc.

(a) .............

1,436,014

22,186,416

PBF

Energy,

Inc.

,

Class

A

..............

2,693,675

76,823,611

Peabody

Energy

Corp.

................

3,260,701

85,658,615

PrimeEnergy

Resources

Corp.

(a)(b) .........

13,414

2,212,639

REX

American

Resources

Corp.

(a)(b) .......

389,664

17,429,671

Riley

Exploration

Permian,

Inc.

...........

291,756

7,792,803

Ring

Energy,

Inc.

(a)(b) ..................

3,859,108

5,711,480

Sable

Offshore

Corp.

,

Class

A

(a)(b) .........

1,301,064

29,091,791

SandRidge

Energy,

Inc.

...............

788,791

8,747,692

Scorpio

Tankers,

Inc.

.................

1,205,916

70,268,725

SFL

Corp.

Ltd.

......................

2,954,959

31,352,115

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels
(continued)

Sitio

Royalties

Corp.

,

Class

A

............

2,010,524

$

44,814,580

SM

Energy

Co.

.....................

2,978,779

125,019,355

Talos

Energy,

Inc.

(a)(b) .................

3,820,342

39,043,895

Teekay

Corp.

Ltd.

(a) ..................

1,464,633

12,258,978

Teekay

Tankers

Ltd.

,

Class

A

............

617,609

29,447,597

Uranium

Energy

Corp.

(a)(b) ..............

10,240,610

75,985,326

Ur-Energy,

Inc.

(a)(b) ...................

8,446,024

10,726,450

VAALCO

Energy,

Inc.

.................

2,663,229

14,221,643

Verde

Clean

Fuels,

Inc.

,

Class

A

(a)(b) .......

92,222

386,410

Vital

Energy,

Inc.

(a)(b) ..................

735,897

20,067,911

Vitesse

Energy,

Inc.

..................

610,992

15,195,371

W&T

Offshore,

Inc.

...................

2,545,173

5,421,218

World

Kinect

Corp.

(b) ..................

1,509,089

39,462,677

2,132,264,383

#### Paper

#### &

#### Forest

#### Products

#### —

#### 0.1%
Clearwater

Paper

Corp.

(a)(b) .............

418,592

10,544,332

Sylvamo

Corp.

.....................

909,495

77,325,265

87,869,597

#### Passenger

#### Airlines

#### —

#### 0.4%
Allegiant

Travel

Co.

..................

406,539

26,429,100

Blade

Air

Mobility,

Inc.

,

Class

A

(a)(b) ........

1,467,974

5,277,366

Frontier

Group

Holdings,

Inc.

(a)(b) ..........

1,118,162

6,798,425

JetBlue

Airways

Corp.

(a)(b) ..............

8,057,983

45,930,503

Joby

Aviation,

Inc.

,

Class

A

(a)(b) ...........

10,302,172

49,450,426

SkyWest,

Inc.

(a) .....................

1,029,128

97,972,986

Spirit

Airlines,

Inc.

(b) ..................

2,830,690

6,793,656

Sun

Country

Airlines

Holdings,

Inc.

(a) .......

1,007,639

14,157,328

Wheels

Up

Experience,

Inc.

(a)(b) ..........

2,339,181

4,771,929

257,581,719

#### Personal

#### Care

#### Products

#### —

#### 0.2%
Beauty

Health

Co.

(The)

,

Class

A

(a)(b) .......

1,979,456

3,196,822

Edgewell

Personal

Care

Co.

............

1,271,212

44,428,859

Herbalife

Ltd.

(a)(b) ....................

2,550,276

19,254,584

Honest

Co.,

Inc.

(The)

(a)(b) ..............

2,133,072

7,935,028

Interparfums

,

Inc.

....................

467,263

56,571,531

Medifast

,

Inc.

(a) .....................

292,768

5,381,076

Nature's

Sunshine

Products,

Inc.

(a) ........

316,052

4,001,218

Nu

Skin

Enterprises,

Inc.

,

Class

A

.........

1,335,112

8,264,343

Olaplex

Holdings,

Inc.

(a)(b) ..............

3,657,399

6,510,170

USANA

Health

Sciences,

Inc.

(a)(b) .........

289,321

10,687,518

Veru

,

Inc.

(a)(b) .......................

3,263,421

2,464,862

Waldencast

plc

,

Class

A

(a)(b) .............

602,980

2,080,281

170,776,292

#### Pharmaceuticals

#### —

#### 1.9%
Alto

Neuroscience,

Inc.

(a) ...............

529,621

2,060,226

Alumis

,

Inc.

(a)(b) .....................

319,174

3,613,050

Amneal

Pharmaceuticals,

Inc.

,

Class

A

(a) ....

4,156,541

35,205,902

Amphastar

Pharmaceuticals,

Inc.

(a)(b) .......

988,775

49,962,801

ANI

Pharmaceuticals,

Inc.

(a)(b) ............

470,136

26,912,935

Aquestive

Therapeutics,

Inc.

(a)(b) ..........

1,920,925

10,545,878

Arvinas

,

Inc.

(a)(b) .....................

1,655,558

43,756,398

Atea

Pharmaceuticals,

Inc.

(a)(b) ...........

1,978,851

6,411,477

Avadel

Pharmaceuticals

plc

(a)(b) ..........

2,401,098

37,144,986

Axsome

Therapeutics,

Inc.

(a)(b) ...........

938,425

83,547,978

Biote

Corp.

,

Class

A

(a) .................

673,534

3,435,023

Cassava

Sciences,

Inc.

(a)(b) .............

1,045,518

26,979,592

Collegium

Pharmaceutical,

Inc.

(a)(b) ........

833,006

28,438,825

Contineum

Therapeutics,

Inc.

,

Class

A

(a)(b) ...

142,871

2,394,518

Corcept

Therapeutics,

Inc.

(a)(b) ...........

2,076,434

101,682,973

CorMedix,

Inc.

(a)(b) ...................

1,403,936

14,116,576

Edgewise

Therapeutics,

Inc.

(a)(b) ..........

1,867,376

62,687,812

Enliven

Therapeutics,

Inc.

(a)(b) ............

905,624

25,221,628

*Security*

*Shares*

*Shares*

*Value*

#### Pharmaceuticals
(continued)

Esperion

Therapeutics,

Inc.

(a)(b) ...........

4,866,712

$

9,928,093

Evolus

,

Inc.

(a) ......................

1,422,214

23,210,532

EyePoint

Pharmaceuticals,

Inc.

(a)(b) ........

1,288,122

15,148,315

Fulcrum

Therapeutics,

Inc.

(a)(b) ...........

1,626,094

5,138,457

Harmony

Biosciences

Holdings,

Inc.

(a)(b) .....

778,494

25,013,012

Harrow,

Inc.

(a)(b) .....................

785,871

35,411,347

Innoviva

,

Inc.

(a)(b) ....................

1,394,832

27,282,914

Ligand

Pharmaceuticals,

Inc.

(a)(b) ..........

438,641

46,364,354

Liquidia

Corp.

(a)(b) ....................

1,478,690

16,043,787

Longboard

Pharmaceuticals,

Inc.

(a) ........

831,966

49,685,010

Lyra

Therapeutics,

Inc.

(a)(b) ..............

2,323,232

638,657

MediWound

Ltd.

(a)(b) ..................

206,380

3,735,478

Mind

Medicine

MindMed

,

Inc.

(a)(b) .........

1,872,009

11,793,657

Nektar

Therapeutics

(a) .................

4,796,559

5,707,905

Neumora

Therapeutics,

Inc.

(a)(b) ..........

2,164,710

24,785,930

Nuvation

Bio,

Inc.

,

Class

A

(a)(b) ...........

4,676,785

10,335,695

Ocular

Therapeutix

,

Inc.

(a)(b) .............

4,015,425

42,282,425

Omeros

Corp.

(a)(b) ....................

1,456,704

5,885,084

Pacira

BioSciences

,

Inc.

(a)(b) .............

1,170,743

19,434,334

Phathom

Pharmaceuticals,

Inc.

(a)(b) ........

876,297

15,028,494

Phibro

Animal

Health

Corp.

,

Class

A

.......

529,040

12,231,405

Pliant

Therapeutics,

Inc.

(a)(b) .............

1,462,592

20,578,669

Prestige

Consumer

Healthcare,

Inc.

(a)(b) .....

1,268,517

93,553,129

Rapport

Therapeutics,

Inc.

(a)(b) ...........

224,521

5,507,500

Revance

Therapeutics,

Inc.

(a)(b) ...........

2,699,918

15,929,516

Scilex

Holding

Co.,

(Acquired

01/06/23,

cost

$14,991,359)

(a)(b)(e)

.................

1,430,473

1,338,578

scPharmaceuticals

,

Inc.

(a)(b) .............

695,542

2,886,499

SIGA

Technologies,

Inc.

...............

1,206,061

8,707,760

Supernus

Pharmaceuticals,

Inc.

(a)(b) ........

1,288,275

43,891,529

Tarsus

Pharmaceuticals,

Inc.

(a)(b) ..........

945,729

42,075,483

Terns

Pharmaceuticals,

Inc.

(a) ............

1,470,826

10,089,866

Theravance

Biopharma,

Inc.

(a)(b) ..........

948,992

7,819,694

Third

Harmonic

Bio,

Inc.

(a)(b) .............

514,585

7,096,127

Trevi

Therapeutics,

Inc.

(a)(b) .............

1,398,718

4,119,225

Ventyx

Biosciences,

Inc.

(a)(b) .............

1,577,310

3,406,990

Verrica

Pharmaceuticals,

Inc.

(a)(b) .........

540,966

757,352

WaVe

Life

Sciences

Ltd.

(a) ..............

1,996,548

27,372,673

Xeris

Biopharma

Holdings,

Inc.

(a)(b) ........

3,592,910

11,569,170

Zevra

Therapeutics,

Inc.

(a)(b) .............

1,083,492

8,830,460

1,284,733,683

#### Professional

#### Services

#### —

#### 2.3%
Alight,

Inc.

,

Class

A

(a)(b) ................

10,940,454

75,817,346

Asure

Software,

Inc.

(a)(b) ................

604,335

5,995,003

Barrett

Business

Services,

Inc.

...........

652,878

23,627,655

BlackSky

Technology,

Inc.

(a)(b) ............

367,491

2,322,543

CBIZ,

Inc.

(a)(b) .......................

1,231,499

84,887,226

Conduent,

Inc.

(a) ....................

4,184,369

15,063,729

CRA

International,

Inc.

................

170,295

31,017,531

CSG

Systems

International,

Inc.

..........

777,507

36,239,601

DLH

Holdings

Corp.

(a)(b) ................

131,963

1,068,900

ExlService

Holdings,

Inc.

(a)(b) ............

4,036,745

168,211,164

Exponent,

Inc.

(b) .....................

1,293,265

122,058,351

First

Advantage

Corp.

(a)(b) ..............

1,302,879

23,608,168

FiscalNote

Holdings,

Inc.

,

Class

A

(a)(b) ......

1,443,709

1,313,775

Forrester

Research,

Inc.

(a) ..............

313,488

4,598,869

Franklin

Covey

Co.

(a) .................

276,957

11,025,658

Heidrick

&

Struggles

International,

Inc.

.....

522,674

20,415,647

HireQuest

,

Inc.

.....................

113,832

1,515,104

Huron

Consulting

Group,

Inc.

(a) ...........

449,604

52,032,671

IBEX

Holdings

Ltd.

(a) ..................

243,242

4,368,626

ICF

International,

Inc.

.................

479,519

80,842,108

Innodata,

Inc.

(a)(b) ....................

715,499

14,388,685

Insperity,

Inc.

.......................

928,505

73,138,339

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Professional

#### Services
(continued)

Kelly

Services,

Inc.

,

Class

A,

NVS

........

835,027

$

16,692,190

Kforce

,

Inc.

........................

476,280

27,524,221

Korn

Ferry

........................

1,361,460

96,187,149

Legalzoom.com,

Inc.

(a) ................

3,555,529

25,528,698

Maximus,

Inc.

......................

1,574,506

136,100,299

Mistras

Group,

Inc.

(a) .................

516,500

4,364,425

NV5

Global,

Inc.

(a)(b) ..................

1,433,706

32,760,182

Planet

Labs

PBC

,

Class

A

(a)(b) ............

5,468,088

12,084,475

Resources

Connection,

Inc.

.............

877,838

7,066,596

Spire

Global,

Inc.

,

Class

A

(a)(b) ...........

564,589

5,589,431

Sterling

Check

Corp.

(a)(b) ...............

864,272

14,467,913

TriNet

Group,

Inc.

...................

823,007

69,865,064

TrueBlue,

Inc.

(a) .....................

796,876

5,968,601

TTEC

Holdings,

Inc.

..................

603,718

3,139,334

Upwork,

Inc.

(a)(b) .....................

3,176,305

43,070,696

Verra

Mobility

Corp.

,

Class

A

(a)(b) ..........

4,307,893

111,875,981

Willdan

Group,

Inc.

(a)(b) ................

327,148

15,477,372

WNS

Holdings

Ltd.

(a)(b) ................

1,171,688

56,229,307

1,537,548,633

#### Real

#### Estate

#### Management

#### &

#### Development

#### —

#### 0.6%
American

Realty

Investors,

Inc.

(a) .........

32,864

460,425

Anywhere

Real

Estate,

Inc.

(a) ............

2,599,077

10,032,437

Compass,

Inc.

,

Class

A

(a)(b) .............

9,846,664

62,526,316

Cushman

&

Wakefield

plc

(a)(b) ............

3,370,926

45,676,047

eXp

World

Holdings,

Inc.

(b) ..............

2,145,340

28,575,929

Forestar

Group,

Inc.

(a)(b) ................

484,298

15,289,288

FRP

Holdings,

Inc.

(a) ..................

314,656

9,125,024

Kennedy-Wilson

Holdings,

Inc.

...........

2,958,663

31,628,108

Marcus

&

Millichap,

Inc.

...............

624,217

23,620,371

Maui

Land

&

Pineapple

Co.,

Inc.

(a)(b) .......

188,760

4,150,832

Newmark

Group,

Inc.

,

Class

A

(b) ..........

3,539,629

53,059,039

Offerpad

Solutions,

Inc.

,

Class

A

(a)(b) .......

164,111

493,974

Opendoor

Technologies,

Inc.

(a)(b) ..........

16,078,068

28,136,619

RE/MAX

Holdings,

Inc.

,

Class

A

(a) .........

469,898

5,751,552

Real

Brokerage,

Inc.

(The)

(a)(b) ...........

2,522,022

13,770,240

Redfin

Corp.

(a)(b) .....................

3,042,006

31,545,602

RMR

Group,

Inc.

(The)

,

Class

A

..........

451,306

10,862,935

St.

Joe

Co.

(The)

....................

931,240

48,145,108

Star

Holdings

(a)(b) ....................

333,818

4,252,841

Stratus

Properties,

Inc.

(a) ...............

143,087

3,189,409

Tejon

Ranch

Co.

(a)(b) ..................

521,335

8,294,440

Transcontinental

Realty

Investors,

Inc.

(a) ....

28,692

794,195

439,380,731

#### Residential

#### REITs

#### —

#### 0.5%
Apartment

Investment

&

Management

Co.

,

Class

A

(a) .......................

3,724,358

31,433,582

BRT

Apartments

Corp.

................

316,263

5,132,948

Centerspace

.......................

392,056

27,310,621

Clipper

Realty,

Inc.

...................

349,905

2,302,375

Elme

Communities

...................

2,277,811

38,426,672

Independence

Realty

Trust,

Inc.

..........

5,843,449

114,648,469

NexPoint

Residential

Trust,

Inc.

..........

585,014

24,365,833

UMH

Properties,

Inc.

.................

1,672,791

31,197,552

Veris

Residential,

Inc.

.................

2,019,185

33,255,977

308,074,029

#### Retail

#### REITs

#### —

#### 1.3%
Acadia

Realty

Trust

(b) .................

2,720,849

66,633,592

Alexander's,

Inc.

....................

55,467

12,592,673

CBL

&

Associates

Properties,

Inc.

.........

611,365

16,170,604

Curbline

Properties

Corp.

(a) .............

2,553,328

57,781,813

Getty

Realty

Corp.

...................

1,273,869

39,986,748

InvenTrust

Properties

Corp.

.............

1,777,144

52,336,891

Kite

Realty

Group

Trust

................

5,651,156

145,065,174

*Security*

*Shares*

*Shares*

*Value*

#### Retail

#### REITs
(continued)

Macerich

Co.

(The)

..................

5,633,781

$

105,351,705

NETSTREIT

Corp.

...................

1,936,310

30,012,805

Phillips

Edison

&

Co.,

Inc.

..............

3,173,613

119,994,308

Retail

Opportunity

Investments

Corp.

......

3,209,351

49,744,940

Saul

Centers,

Inc.

...................

285,904

11,190,283

SITE

Centers

Corp.

..................

1,276,664

20,362,791

Tanger

,

Inc.

........................

2,775,840

92,241,163

Urban

Edge

Properties

................

3,218,427

71,577,816

Whitestone

REIT

....................

1,294,551

17,838,913

908,882,219

#### Semiconductors

#### &

#### Semiconductor

#### Equipment

#### —

#### 2.1%
ACM

Research,

Inc.

,

Class

A

(a)(b) ..........

1,312,815

24,674,358

Aehr

Test

Systems

(a)(b) .................

721,931

10,164,788

Alpha

&

Omega

Semiconductor

Ltd.

(a)(b) .....

606,190

20,028,518

Ambarella,

Inc.

(a) ....................

970,441

54,529,080

Axcelis

Technologies,

Inc.

(a) .............

838,326

71,517,591

CEVA,

Inc.

(a) .......................

590,214

13,772,644

Cohu

,

Inc.

(a)(b) ......................

1,194,483

29,766,516

Credo

Technology

Group

Holding

Ltd.

(a)(b) ....

3,312,774

124,891,580

Diodes,

Inc.

(a)(b) .....................

1,175,447

68,740,141

Everspin

Technologies,

Inc.

(a)(b) ...........

391,558

2,419,828

FormFactor

,

Inc.

(a)(b) ..................

1,996,734

75,835,957

GCT

Semiconductor

Holding,

Inc.

(a)(b) ......

198,126

457,671

Ichor

Holdings

Ltd.

(a)(b) .................

853,587

23,268,782

Impinj

,

Inc.

(a)(b) ......................

590,848

112,255,212

indie

Semiconductor,

Inc.

,

Class

A

(a)(b) ......

4,185,576

13,854,257

Kulicke

&

Soffa

Industries,

Inc.

...........

1,396,106

62,629,315

MaxLinear

,

Inc.

(a)(b) ...................

2,059,167

26,707,396

Navitas

Semiconductor

Corp.

(a)(b) .........

3,217,262

7,946,637

NVE

Corp.

........................

113,528

8,556,605

PDF

Solutions,

Inc.

(a)(b) ................

773,514

21,905,916

Penguin

Solutions,

Inc.

(a)(b) ..............

1,352,659

20,357,518

Photronics

,

Inc.

(a) ....................

1,583,172

36,096,322

Power

Integrations,

Inc.

...............

1,443,240

87,214,993

QuickLogic

Corp.

(a)(b) ..................

356,981

2,648,799

Rambus,

Inc.

(a)(b) ....................

2,800,989

133,943,294

Rigetti

Computing,

Inc.

(a)(b) ..............

3,476,353

4,588,786

Semtech

Corp.

(a)(b) ...................

1,669,138

73,759,208

Silicon

Laboratories,

Inc.

(a)(b) .............

827,749

85,970,011

SiTime

Corp.

(a)(b) ....................

472,805

79,908,773

SkyWater

Technology,

Inc.

(a)(b) ...........

717,165

7,035,389

Synaptics

,

Inc.

(a) ....................

1,006,516

69,117,454

Ultra

Clean

Holdings,

Inc.

(a) .............

1,148,006

38,400,801

Veeco

Instruments,

Inc.

(a)(b) .............

1,429,275

41,134,534

1,454,098,674

#### Software

#### —

#### 6.0%
8x8,

Inc.

(a)(b) ........................

3,076,643

6,860,914

A10

Networks,

Inc.

...................

1,814,434

26,581,458

ACI

Worldwide,

Inc.

(a) .................

2,743,179

134,964,407

Adeia

,

Inc.

........................

2,844,112

35,352,312

Agilysys,

Inc.

(a)(b) ....................

580,044

58,027,602

Airship

AI

Holdings,

Inc.

(a)(b) .............

293,547

557,739

Alarm.com

Holdings,

Inc.

(a)(b) ............

1,240,933

66,178,957

Alkami

Technology,

Inc.

(a)(b) .............

1,173,810

42,973,184

Altair

Engineering,

Inc.

,

Class

A

(a)(b) ........

1,478,129

153,710,635

Amplitude,

Inc.

,

Class

A

(a)(b) .............

1,989,238

17,883,250

Appian

Corp.

,

Class

A

(a)(b) ..............

1,042,934

37,284,891

Arteris

,

Inc.

(a)(b) ......................

712,178

4,849,932

Asana,

Inc.

,

Class

A

(a)(b) ................

2,139,806

25,549,284

AudioEye

,

Inc.

(a)(b) ...................

182,248

3,881,882

Aurora

Innovation,

Inc.

,

Class

A

(a)(b) ........

24,101,830

125,209,007

AvePoint,

Inc.

,

Class

A

(a)(b) ..............

3,319,431

40,297,892

Bit

Digital,

Inc.

(a)(b) ....................

3,144,399

11,980,160

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Software
(continued)

Blackbaud,

Inc.

(a)(b) ...................

1,065,257

$

80,437,556

BlackLine

,

Inc.

(a)(b) ...................

1,486,832

82,325,888

Blend

Labs,

Inc.

,

Class

A

(a)(b) ............

6,010,441

21,817,901

Box,

Inc.

,

Class

A

(a)(b) .................

3,636,771

115,503,847

Braze,

Inc.

,

Class

A

(a)(b) ................

1,701,574

53,531,518

C3.ai,

Inc.

,

Class

A

(a)(b) ................

2,176,757

53,613,525

Cerence

,

Inc.

(a)(b) ....................

1,099,668

3,348,489

Cipher

Mining,

Inc.

(a)(b) .................

4,646,255

22,906,037

Cleanspark

,

Inc.

(a)(b) ..................

5,925,558

62,870,170

Clear

Secure,

Inc.

,

Class

A

.............

2,262,320

83,208,130

Clearwater

Analytics

Holdings,

Inc.

,

Class

A

(a)(b) 3,906,326

101,994,172

CommVault

Systems,

Inc.

(a) .............

1,127,839

176,157,173

Consensus

Cloud

Solutions,

Inc.

(a)(b) .......

468,099

10,382,436

CS

Disco,

Inc.

(a)(b) ....................

761,647

4,478,484

Daily

Journal

Corp.

(a)(b) ................

35,224

17,083,640

Dave,

Inc.

,

Class

A

(a)(b) ................

202,015

7,789,698

Digimarc

Corp.

(a)(b) ...................

401,584

12,441,072

Digital

Turbine,

Inc.

(a)(b) ................

2,589,432

8,286,182

Domo,

Inc.

,

Class

B

(a)(b) ................

905,985

7,202,581

D-Wave

Quantum,

Inc.

(a)(b) ..............

2,270,978

2,407,237

E2open

Parent

Holdings,

Inc.

,

Class

A

(a)(b) ...

5,223,520

15,304,914

eGain

Corp.

(a) ......................

513,317

2,525,520

Enfusion

,

Inc.

,

Class

A

(a)(b) ..............

1,236,822

11,020,084

Envestnet,

Inc.

(a)(b) ...................

1,091,954

68,552,872

EverCommerce

,

Inc.

(a)(b) ...............

573,041

6,028,391

Freshworks

,

Inc.

,

Class

A

(a)(b) ............

5,342,713

62,509,742

Hut

Corp.

(a)(b) .....................

2,080,563

32,852,090

iLearningEngines

Holdings,

Inc.

(a)(b) ........

780,590

1,170,885

Instructure

Holdings,

Inc.

(a)(b) ............

573,851

13,508,453

Intapp

,

Inc.

(a) .......................

1,010,791

50,711,384

InterDigital

,

Inc.

.....................

650,118

97,803,752

Jamf

Holding

Corp.

(a)(b) ................

2,107,839

35,074,441

Kaltura,

Inc.

(a)(b) .....................

2,174,292

2,761,351

Life360,

Inc.

(a)(b) .....................

158,047

6,775,475

LiveRamp

Holdings,

Inc.

(a)(b) .............

1,698,433

42,511,778

Logility

Supply

Chain

Solutions,

Inc.

,

Class

A

.

815,286

8,601,267

MARA

Holdings,

Inc.

(a)(b) ...............

7,041,814

118,091,221

Matterport,

Inc.

,

Class

A

(a)(b) .............

6,851,486

31,242,776

Meridianlink

,

Inc.

(a)(b) ..................

703,266

15,443,721

Mitek

Systems,

Inc.

(a)(b) ................

1,202,190

10,326,812

N-able,

Inc.

(a) .......................

1,831,655

22,401,141

NCR

Voyix

Corp.

(a)(b) ..................

3,799,299

48,669,020

NextNav

,

Inc.

(a)(b) ....................

1,906,340

22,151,671

Olo,

Inc.

,

Class

A

(a) ...................

2,729,101

13,672,796

ON24,

Inc.

(a) .......................

748,209

4,526,664

OneSpan

,

Inc.

(a)(b) ....................

980,661

16,357,426

Ooma

,

Inc.

(a)(b) ......................

610,417

7,300,587

Pagaya

Technologies

Ltd.

,

Class

A

(a)(b) ......

1,202,395

13,851,590

PagerDuty,

Inc.

(a)(b) ...................

2,372,738

42,851,648

Porch

Group,

Inc.

(a)(b) .................

2,014,876

4,372,281

Prairie

Operating

Co.

(a)(b) ...............

99,903

834,190

Progress

Software

Corp.

(b) ..............

1,089,079

69,799,073

PROS

Holdings,

Inc.

(a)(b) ...............

1,188,638

23,535,032

Q2

Holdings,

Inc.

(a)(b) ..................

1,528,014

129,361,665

Qualys,

Inc.

(a)(b) .....................

955,225

113,901,029

Rapid7,

Inc.

(a) ......................

1,596,120

64,515,170

Red

Violet,

Inc.

(a)(b) ...................

274,047

8,243,334

Rekor

Systems,

Inc.

(a)(b) ................

1,837,750

1,929,638

ReposiTrak

,

Inc.

(b) ...................

292,883

5,637,998

Rimini

Street,

Inc.

(a) ..................

1,295,938

2,293,810

Riot

Platforms,

Inc.

(a)(b) ................

7,335,356

67,778,689

Roadzen

,

Inc.

(a)(b) ....................

372,452

365,003

Sapiens

International

Corp.

NV

..........

804,104

29,655,356

SEMrush

Holdings,

Inc.

,

Class

A

(a) ........

948,199

12,430,889

Silvaco

Group,

Inc.

(a)(b) ................

158,048

987,800

*Security*

*Shares*

*Shares*

*Value*

(continued)

SolarWinds

Corp.

...................

1,443,814

$

18,885,087

SoundHound

AI,

Inc.

,

Class

A

(a)(b) .........

7,570,233

38,078,272

SoundThinking

,

Inc.

(a) .................

260,308

2,756,662

Sprinklr,

Inc.

,

Class

A

(a)(b) ...............

3,281,804

24,383,804

Sprout

Social,

Inc.

,

Class

A

(a)(b) ...........

1,277,348

33,836,949

SPS

Commerce,

Inc.

(a) ................

958,780

158,198,700

Telos

Corp.

(a)(b) ......................

1,476,684

5,183,161

Tenable

Holdings,

Inc.

(a) ...............

3,051,492

120,869,598

Terawulf

,

Inc.

(a)(b) ....................

6,074,628

39,606,575

Varonis

Systems,

Inc.

(a)(b) ...............

2,846,226

143,364,404

Verint

Systems,

Inc.

(a)(b) ................

1,586,393

33,790,171

Vertex,

Inc.

,

Class

A

(a)(b) ................

1,406,222

58,372,275

Viant

Technology,

Inc.

,

Class

A

(a)(b) ........

424,017

4,948,278

Weave

Communications,

Inc.

(a)(b) .........

1,020,108

14,301,914

WM

Technology,

Inc.

,

Class

A

(a)(b) .........

1,944,211

1,506,958

Workiva,

Inc.

,

Class

A

(a)(b) ..............

1,303,919

104,000,579

Xperi

,

Inc.

(a)(b) ......................

1,181,351

10,785,735

Yext

,

Inc.

(a)(b) .......................

2,693,342

19,499,796

Zeta

Global

Holdings

Corp.

,

Class

A

(a)(b) .....

4,608,587

127,565,688

Zuora,

Inc.

,

Class

A

(a) .................

3,560,756

35,251,484

4,075,355,761

#### Specialized

#### REITs

#### —

#### 0.4%
Farmland

Partners,

Inc.

...............

1,119,909

13,114,135

Four

Corners

Property

Trust,

Inc.

.........

2,380,943

65,618,789

Gladstone

Land

Corp.

................

795,740

10,368,492

Outfront

Media,

Inc.

..................

3,843,963

68,268,783

PotlatchDeltic

Corp.

..................

2,061,434

85,693,811

Safehold,

Inc.

(b) .....................

1,362,794

29,000,256

Uniti

Group,

Inc.

....................

6,153,142

31,196,430

303,260,696

#### Specialty

#### Retail

#### —

#### 2.3%
1-800-Flowers.com,

Inc.

,

Class

A

(a)(b) .......

663,699

5,521,976

Abercrombie

&

Fitch

Co.

,

Class

A

(a)(b) .......

1,296,870

170,914,497

Academy

Sports

&

Outdoors,

Inc.

(b) ........

1,823,757

92,756,281

American

Eagle

Outfitters,

Inc.

...........

4,704,004

92,151,438

America's

Car-Mart,

Inc.

(a)(b) .............

150,758

5,885,592

Arhaus

,

Inc.

,

Class

A

.................

1,325,828

11,243,022

Arko

Corp.

........................

2,030,241

13,501,103

Asbury

Automotive

Group,

Inc.

(a)(b) .........

523,294

119,227,305

BARK,

Inc.

(a)(b) ......................

3,351,223

4,859,273

Beyond,

Inc.

(a)(b) .....................

1,207,039

7,737,120

Boot

Barn

Holdings,

Inc.

(a)(b) .............

765,222

95,308,400

Buckle,

Inc.

(The)

...................

787,128

33,500,168

Build-A-Bear

Workshop,

Inc.

............

322,236

12,273,969

Caleres,

Inc.

.......................

888,107

26,509,994

Camping

World

Holdings,

Inc.

,

Class

A

.....

1,101,119

22,088,447

Citi

Trends,

Inc.

(a)(b) ...................

164,881

3,114,602

Designer

Brands,

Inc.

,

Class

A

...........

1,111,084

5,788,748

Destination

XL

Group,

Inc.

(a)(b) ...........

1,352,413

3,617,705

EVgo

,

Inc.

,

Class

A

(a)(b) ................

2,603,275

20,409,676

Foot

Locker,

Inc.

(a) ...................

2,146,477

49,776,802

Genesco,

Inc.

(a)(b) ....................

286,728

7,345,971

Group

Automotive,

Inc.

(b) ..............

342,998

124,961,031

GrowGeneration

Corp.

(a)(b) ..............

1,468,785

3,018,353

Haverty

Furniture

Cos.,

Inc.

.............

364,726

8,078,681

J

Jill,

Inc.

.........................

140,692

3,363,946

Lands'

End,

Inc.

(a)(b) ..................

369,245

5,811,916

Leslie's,

Inc.

(a)(b) .....................

4,695,275

12,630,290

MarineMax

,

Inc.

(a)(b) ..................

550,179

16,026,714

Monro,

Inc.

........................

759,325

20,813,098

National

Vision

Holdings,

Inc.

(a)(b) .........

1,999,698

20,796,859

ODP

Corp.

(The)

(a)(b) ..................

905,881

28,109,488

OneWater

Marine,

Inc.

,

Class

A

(a)(b) ........

303,521

6,607,652

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Specialty

#### Retail
(continued)

Petco

Health

&

Wellness

Co.,

Inc.

(a)(b) ......

2,167,563

$

9,255,494

RealReal

,

Inc.

(The)

(a)(b) ................

2,476,184

7,180,934

Revolve

Group,

Inc.

,

Class

A

(a)(b) ..........

989,053

24,548,296

RumbleON

,

Inc.

,

Class

B

(a)(b) ............

344,650

1,737,036

Sally

Beauty

Holdings,

Inc.

(a)(b) ...........

2,668,468

34,690,084

Shoe

Carnival,

Inc.

...................

471,279

16,150,731

Signet

Jewelers

Ltd.

..................

1,101,007

100,940,322

Sleep

Number

Corp.

(a)(b) ...............

566,566

7,761,954

Sonic

Automotive,

Inc.

,

Class

A

..........

377,165

21,396,571

Stitch

Fix,

Inc.

,

Class

A

(a)(b) ..............

2,388,287

7,535,046

ThredUp

,

Inc.

,

Class

A

(a)(b) ..............

2,058,275

1,268,927

Tile

Shop

Holdings,

Inc.

(a) ..............

702,758

4,645,230

Tilly's,

Inc.

,

Class

A

(a)(b) ................

451,801

1,816,240

Torrid

Holdings,

Inc.

(a)(b) ................

405,980

1,473,707

Upbound

Group,

Inc.

.................

1,378,934

40,320,030

Urban

Outfitters,

Inc.

(a)(b) ...............

1,655,292

59,507,747

Victoria's

Secret

&

Co.

(a)(b) ..............

2,024,665

61,266,363

Warby

Parker,

Inc.

,

Class

A

(a)(b) ...........

2,245,057

38,008,815

Winmark

Corp.

.....................

72,120

26,892,827

Zumiez,

Inc.

(a)(b) .....................

428,104

8,818,942

1,528,965,413

#### Technology

#### Hardware,

#### Storage

#### &

#### Peripherals

#### —

#### 0.3%
CompoSecure

,

Inc.

,

Class

A

(b) ...........

643,938

9,729,903

Corsair

Gaming,

Inc.

(a)(b) ...............

1,194,367

7,661,864

CPI

Card

Group,

Inc.

(a) ................

125,949

2,707,904

Diebold

Nixdorf,

Inc.

(a) .................

667,081

30,872,509

Eastman

Kodak

Co.

(a)(b) ................

1,618,790

7,640,689

Immersion

Corp.

....................

803,194

6,770,925

IonQ

,

Inc.

(a)(b) .......................

5,119,621

76,947,904

Turtle

Beach

Corp.

(a) ..................

450,784

7,199,020

Xerox

Holdings

Corp.

.................

3,035,570

24,800,607

174,331,325

#### Textiles,

#### Apparel

#### &

#### Luxury

#### Goods

#### —

#### 0.6%
Figs,

Inc.

,

Class

A

(a)(b) .................

3,333,128

20,832,050

G-III

Apparel

Group

Ltd.

(a)(b) .............

1,043,497

31,597,089

Hanesbrands,

Inc.

(a)(b) .................

9,135,455

63,491,412

Kontoor

Brands,

Inc.

..................

1,441,600

123,444,208

Movado

Group,

Inc.

..................

389,952

7,202,413

Oxford

Industries,

Inc.

................

378,225

27,466,700

Rocky

Brands,

Inc.

...................

186,379

3,790,949

Steven

Madden

Ltd.

..................

1,866,096

83,918,337

Superior

Group

of

Cos.,

Inc.

............

341,652

5,039,367

Vera

Bradley,

Inc.

(a)(b) .................

634,971

3,181,205

Wolverine

World

Wide,

Inc.

.............

2,054,035

31,611,599

401,575,329

#### Tobacco

#### —

#### 0.1%
Ispire

Technology,

Inc.

(a)(b) ..............

481,608

2,701,821

Turning

Point

Brands,

Inc.

..............

443,261

20,935,217

Universal

Corp.

.....................

622,643

31,704,981

55,342,019

#### Trading

#### Companies

#### &

#### Distributors

#### —

#### 2.4%
Alta

Equipment

Group,

Inc.

,

Class

A

.......

679,580

4,417,270

Applied

Industrial

Technologies,

Inc.

.......

995,543

230,557,803

Beacon

Roofing

Supply,

Inc.

(a)(b) ..........

1,643,632

151,329,198

BlueLinx

Holdings,

Inc.

(a) ...............

218,697

23,938,574

Boise

Cascade

Co.

..................

1,023,254

136,123,480

Custom

Truck

One

Source,

Inc.

(a)(b) ........

1,271,944

5,202,251

Distribution

Solutions

Group,

Inc.

(a)(b) .......

269,811

10,387,724

DNOW,

Inc.

(a) ......................

2,698,825

31,927,100

DXP

Enterprises,

Inc.

(a)(b) ...............

319,198

15,666,238

EVI

Industries,

Inc.

...................

131,513

2,614,478

FTAI

Aviation

Ltd.

....................

2,612,848

351,271,285

*Security*

*Shares*

*Shares*

*Value*

#### Trading

#### Companies

#### &

#### Distributors
(continued)

GATX

Corp.

.......................

912,496

$

125,705,449

Global

Industrial

Co.

..................

335,102

8,890,256

GMS,

Inc.

(a)(b) .......................

1,043,963

93,841,834

H&E

Equipment

Services,

Inc.

...........

828,939

43,312,063

Herc

Holdings,

Inc.

...................

726,500

151,940,210

Hudson

Technologies,

Inc.

(a) ............

1,109,492

8,509,804

Karat

Packaging,

Inc.

.................

174,319

4,654,317

McGrath

RentCorp

...................

620,599

70,562,106

MRC

Global,

Inc.

(a) ...................

2,178,996

26,714,491

Rush

Enterprises,

Inc.

,

Class

A

..........

1,565,971

88,602,639

Rush

Enterprises,

Inc.

,

Class

B

..........

226,624

11,004,862

Titan

Machinery,

Inc.

(a)(b) ...............

524,620

7,200,409

Transcat

,

Inc.

(a)(b) ....................

225,900

21,589,263

Willis

Lease

Finance

Corp.

.............

73,334

13,297,654

Xometry

,

Inc.

,

Class

A

(a)(b) ..............

1,089,590

21,443,131

1,660,703,889

#### Transportation

#### Infrastructure

#### —

#### 0.0%
Sky

Harbour

Group

Corp.

,

Class

A

(a)(b) ......

263,649

2,910,685

#### Water

#### Utilities

#### —

#### 0.4%
American

States

Water

Co.

.............

949,046

78,258,333

Cadiz,

Inc.

(a)(b) ......................

1,059,242

3,220,096

California

Water

Service

Group

..........

1,482,383

77,024,621

Consolidated

Water

Co.

Ltd.

............

372,374

8,847,606

Global

Water

Resources,

Inc.

............

258,393

3,227,329

Middlesex

Water

Co.

.................

446,197

27,302,794

Pure

Cycle

Corp.

(a)(b) ..................

488,442

5,138,410

SJW

Group

........................

819,799

45,630,012

York

Water

Co.

(The)

.................

308,973

10,866,580

259,515,781

#### Wireless

#### Telecommunication

#### Services

#### —

#### 0.1%
Gogo,

Inc.

(a)(b) ......................

1,674,885

10,970,497

Spok

Holdings,

Inc.

..................

447,439

6,966,625

Telephone

&

Data

Systems,

Inc.

..........

2,541,365

75,605,609

93,542,731

#### Total

#### Common

#### Stocks

#### —

#### 99.8%

#### (Cost:

#### $86,983,809,798)
............................

67,636,443,006

#### Rights

#### Biotechnology

#### —

#### 0.0%

#### (a)(d)
Contra

Aduro

Biotech

I,

CVR

(b) ..........

272,340

130,723

Contra

Chinook

Therape

,

CVR

(b) .........

1,316,575

1,105,923

Inhibrx

,

Inc.,

CVR

...................

794,436

889,768

Oncternal

Therapeutics,

Inc.,

CVR

(b) .......

13,273

13,605

2,140,019

#### Total

#### Rights

#### —

#### 0.0%

#### (Cost:

#### $1,055,069)
...............................

2,140,019

#### Warrants

#### Health

#### Care

#### Equipment

#### &

#### Supplies

#### —

#### 0.0%

#### (a)(b)
Pulse

Biosciences,

Inc.

(1

Share

for

Warrant,

Expires

06/26/29,

Strike

Price

USD

11.00)

.

39,821

128,025

Pulse

Biosciences,

Inc.

(1

Share

for

Warrant,

Expires

06/27/29)

.................

39,821

128,024

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### (Percentages

#### shown

#### are

#### based

#### on

#### Net

#### Assets)
*Security*

*Shares*

*Shares*

*Value*

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### —

#### 0.0%
Chord

Energy

Corp.

(Issued/Exercisable

09/01/20,

Share

for

Warrant,

Expires

09/01/25,

Strike

Price

USD

133.70)

(a)(b) ...

46,322

$

231,610

#### Total

#### Warrants

#### —

#### 0.0%

#### (Cost:

#### $3,782,609)
...............................

487,659

#### Total

#### Long-Term

#### Investments

#### —

#### 99.8%

#### (Cost:

#### $86,988,647,476)
............................

67,639,070,684

#### Short-Term

#### Securities

#### Money

#### Market

#### Funds

#### —

#### 11.2%

#### (f)(g)
BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares,

5.01%

(h) ..................

7,482,311,446

7,487,549,064

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares,

4.83%

...................

147,320,292

147,320,292

#### Total

#### Short-Term

#### Securities

#### —

#### 11.2%

#### (Cost:

#### $7,629,038,082)
............................

7,634,869,356

#### Total

#### Investments

#### —

#### 111.0%

#### (Cost:

#### $94,617,685,558)

............................

75,273,940,040

#### Liabilities

#### in

#### Excess

#### of

#### Other

#### Assets

#### —

#### (11.0)%
............

(7,477,074,966)

#### Net

#### Assets

#### —

#### 100.0%
...............................

$

67,796,865,074

(a) Non-income

producing

security.

(b) All

or

a

portion

of

this

security

is

on

loan.

(c) This

security

may

be

resold

to

qualified

foreign

investors

and

foreign

institutional

buyers

under

Regulation

S

of

the

Securities

Act

of

1933. (d) Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

in

the

fair

value

hierarchy.

(e) Restricted

security

as

to

resale,

excluding

144A

securities.

The

Fund

held

restricted

securities

with

a

current

value

of

$1,338,578,

representing

less

than

0.05%

of

its

net

assets

as

of

period

end,

and

an

original

cost

of

$14,991,359.

(f) Affiliate

of

the

Fund.

(g) Annualized

7-day

yield

as

of

period

end.

(h) All

or

a

portion

of

this

security

was

purchased

with

the

cash

collateral

from

loaned

securities.

#### Derivative

#### Financial

#### Instruments

#### Outstanding

#### as

#### of

#### Period

#### End

#### Futures

#### Contracts
*Description*

*Number* 

*of*

*Contracts*

*Expiration*

*Date*

*Notional*

*Amount* 

(000) *Value/*

*Unrealized*

*Appreciation*

(Depreciation)

Long

Contracts

Russell

2000

E-Mini

Index

....................................................

1,603

12/20/24

$

177,019

$

1,749,406

Schedule

of

Investments

(unaudited)

(continued)

October

31,

2024

#### iShares

####®

#### Russell

#### 2000

#### ETF

#### Fair

#### Value

#### Hierarchy

#### as

#### of Period

#### End
Various

inputs

are

used

in

determining

the

fair

value

of

financial

instruments

at

the

measurement

date.

For

a

description

of

the

input

levels

and

information

about

the

Fund's

policy

regarding

valuation

of

financial

instruments,

refer

to

the

Notes

to

Financial

Statements.

The

following

table

summarizes

the

Fund's

financial

instruments

categorized

in

the

fair

value

hierarchy.

The

breakdown

of

the

Fund's

financial

instruments

into

major

categories

is

disclosed

in

the

Schedule

of

Investments

above.

*Level* 

*1*

*Level* 

*2*

*Level* 

*3*

*Total*

Assets

Investments

Long-Term

Investments

Common

Stocks

.........................................

$

67,614,856,778

$

21,586,225

$

$

67,636,443,006

Rights

................................................

—

—

2,140,019

2,140,019

Warrants

..............................................

231,610

256,049

—

487,659

Short-Term

Securities

Money

Market

Funds

......................................

7,634,869,356

—

—

7,634,869,356

$

75,249,957,744

$

21,842,274

$

2,140,022

$

75,273,940,040

Derivative

Financial

Instruments

(a) Assets

Equity

contracts

...........................................

$

1,749,406

$

—

$

—

$

1,749,406

(a) Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

Statements

of

Assets

and

Liabilities

(unaudited)

October

31,

2024

iShares

Core

S&P

500

ETF

iShares

Russell

2000

ETF

#### ASSETS
Investments,

at

value

—

unaffiliated

(a) (b) ........................................................................

$

537,006,498,890

$

67,639,070,684

Investments,

at

value

—

affiliated

(c) ...........................................................................

3,433,143,176

7,634,869,356

Cash

..............................................................................................

—

804,738

Cash

pledged:

Futures

contracts

.....................................................................................

70,069,000

12,455,000

Receivables:

–

–

Investment

s

sold

.....................................................................................

68,904,030

52,089,357

Securities

lending

income

—

affiliated

.......................................................................

445,255

6,620,606

Capital

shares

sold

....................................................................................

3,493,562

3,004,540

Dividends

—

unaffiliated

................................................................................

281,956,957

17,779,234

Dividends

—

affiliated

..................................................................................

4,744,280

598,158

From

the

Manager

....................................................................................

—

1,633

Total

a

ssets

..........................................................................................

540,869,255,150

75,367,293,306

#### LIABILITIES
Bank

overdraft

.........................................................................................

271,439

—

Cash

received:

Futures

contracts

.....................................................................................

—

Collateral

on

securities

loaned

..............................................................................

2,394,162,077

7,527,577,171

Payables:

–

–

Investments

purchased

.................................................................................

—

17,487,661

Capital

shares

redeemed

................................................................................

1,382,868

11,417,253

Investment

advisory

fees

................................................................................

13,814,702

11,072,519

Variation

margin

on

futures

contracts

........................................................................

27,027,980

2,873,628

Total

li

abilities

.........................................................................................

2,436,659,400

7,570,428,232

#### Commitments

#### and

#### contingent

#### liabilities
—

—

NET

ASSETS

.........................................................................................

$

538,432,595,750

$

67,796,865,074

#### NET

#### ASSETS

#### CONSIST

#### OF:
Paid-in

capital

.........................................................................................

$

433,338,150,965

$

101,616,993,247

Accumulated

earnings

(loss)

...............................................................................

105,094,444,785

(33,820,128,173)

NET

ASSETS

.........................................................................................

$

538,432,595,750

$

67,796,865,074

#### NET

#### ASSET

#### VALUE
Shares

outstanding

.....................................................................................

942,050,000

311,350,000

Net

asset

value

........................................................................................

$

571.55 $

217.75 Shares

authorized

......................................................................................

Unlimited

Unlimited

Par

value

............................................................................................

None

None

(a) &nbsp;&nbsp;&nbsp;&nbsp;Investments,

at

cost

—

unaffiliated

...................................................................

$

458,235,774,641

$

86,988,647,476

(b) &nbsp;&nbsp;&nbsp;&nbsp;Securities

loaned,

at

value

........................................................................

$

2,228,706,584

$

7,035,379,277

(c) &nbsp;&nbsp;&nbsp;&nbsp;Investments,

at

cost

—

affiliated

.....................................................................

$

3,431,058,199

$

7,629,038,082

Glossary

of

Terms

Used

in

this

Report

#### Currency

#### Abbreviation
USD

United

States

Dollar

#### Portfolio

#### Abbreviation
CVR

Contingent

Value

Rights

MSCI

Morgan

Stanley

Capital

International

NVS

Non-Voting

Shares

REIT

Real

Estate

Investment

Trust

------

THIS PAGE INTENTIONALLY LEFT BLANK.

------

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------

Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Cboe Global Indices, LLC, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

![](g938995imgdcc1acad2.gif)

![](g938995img89882ef33.gif)

------

October 31, 2024

![](g938995img37b9158b1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares iBonds Dec 2024 Term Corporate ETF \| IBDP \| NYSE Arca |
| • iShares iBonds Dec 2025 Term Corporate ETF \| IBDQ \| NYSE Arca |
| • iShares iBonds Dec 2026 Term Corporate ETF \| IBDR \| NYSE Arca |
| • iShares iBonds Dec 2027 Term Corporate ETF \| IBDS \| NYSE Arca |
| • iShares iBonds Dec 2028 Term Corporate ETF \| IBDT \| NYSE Arca |
| • iShares iBonds Dec 2029 Term Corporate ETF \| IBDU \| NYSE Arca |
| • iShares iBonds Dec 2030 Term Corporate ETF \| IBDV \| NYSE Arca |
| • iShares iBonds Dec 2031 Term Corporate ETF \| IBDW \| NYSE Arca |
| • iShares iBonds Dec 2034 Term Corporate ETF \| IBDZ \| NYSE Arca |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 72 |
| [Statements of Operations](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 75 |
| [Statements of Changes in Net Assets](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_FS-Footer-iSharesReport_7)  | &nbsp;&nbsp; 78 |
| [Financial Highlights](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_FS-Footer-iSharesReport_12)  | &nbsp;&nbsp; 83 |
| [Notes to Financial Statements](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 92 |
| [Report of Independent Registered Public Accounting Firm](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 103 |
| [Important Tax Information](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 104 |
| [Additional Information](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 105 |
| [Board Review and Approval of Investment Advisory Contract](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_15Cheader-Footer-iSharesReport-437_1)  | &nbsp;&nbsp; 106 |
| [Glossary of Terms Used in this Report](#xx_865e50ba-53fc-4d3b-b084-99b5ebf236d0_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 112 |

---

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2024 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.4%** | **Advertising — 0.4%** | **Advertising — 0.4%** |
| Omnicom Group Inc./Omnicom Capital Inc., <br> 3.65%, 11/01/24<br>| &nbsp;&nbsp; $8711 | $8711000 |
| **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** |
| General Dynamics Corp., 2.38%, 11/15/24 | &nbsp;&nbsp; 5714 | 5707752 |
| **Agriculture — 0.9%** | **Agriculture — 0.9%** | **Agriculture — 0.9%** |
| Philip Morris International Inc. |  |  |
| 3.25%, 11/10/24 | &nbsp;&nbsp; 8323 | 8315905 |
| 5.13%, 11/15/24 | &nbsp;&nbsp; 11483 | 11479539 |
|  |  | 19795444 |
| **Auto Manufacturers — 1.3%** | **Auto Manufacturers — 1.3%** | **Auto Manufacturers — 1.3%** |
| Ford Motor Credit Co. LLC, 4.06%, 11/01/24 | &nbsp;&nbsp; 17325 | 17325000 |
| General Motors Financial Co. Inc., 3.50%, <br> 11/07/24<br>| &nbsp;&nbsp; 9637 | 9633288 |
| PACCAR Financial Corp., 0.90%, 11/08/24<sup>(a)</sup> | &nbsp;&nbsp; 3105 | 3102566 |
|  |  | 30060854 |
| **Banks — 6.2%** | **Banks — 6.2%** | **Banks — 6.2%** |
| Bank of Montreal, 5.20%, 12/12/24 | &nbsp;&nbsp; 12953 | 12954273 |
| Bank of Nova Scotia (The), 5.25%, 12/06/24 | &nbsp;&nbsp; 12199 | 12201169 |
| Goldman Sachs Group Inc. (The), 5.70%, <br> 11/01/24<br>| &nbsp;&nbsp; 23672 | 23672000 |
| Lloyds Banking Group PLC, 4.50%, 11/04/24 | &nbsp;&nbsp; 11753 | 11753000 |
| National Australia Bank Ltd./New York, 5.13%, <br> 11/22/24<sup>(a)</sup><br>| &nbsp;&nbsp; 16220 | 16220719 |
| PNC Financial Services Group Inc. (The), 2.20%, <br> 11/01/24<br>| &nbsp;&nbsp; 7834 | 7834000 |
| Royal Bank of Canada, 2.25%, 11/01/24 | &nbsp;&nbsp; 15418 | 15418000 |
| Toronto-Dominion Bank (The), 1.25%, 12/13/24 | &nbsp;&nbsp; 7055 | 7023467 |
| Truist Bank, 2.15%, 12/06/24 | &nbsp;&nbsp; 15114 | 15068214 |
| Westpac Banking Corp., 1.02%, 11/18/24 | &nbsp;&nbsp; 14688 | 14659442 |
|  |  | 136804284 |
| **Beverages — 0.2%** | **Beverages — 0.2%** | **Beverages — 0.2%** |
| Constellation Brands Inc., 4.75%, 11/15/24 | &nbsp;&nbsp; 4638 | 4636416 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| Owens Corning, 4.20%, 12/01/24 | &nbsp;&nbsp; 5773 | 5766272 |
| Trane Technologies Financing Ltd., 3.55%, <br> 11/01/24<br>| &nbsp;&nbsp; 6069 | 6069000 |
|  |  | 11835272 |
| **Chemicals — 0.5%** | **Chemicals — 0.5%** | **Chemicals — 0.5%** |
| Linde Inc./CT, 4.80%, 12/05/24 | &nbsp;&nbsp; 4492 | 4490881 |
| Nutrien Ltd., 5.90%, 11/07/24 | &nbsp;&nbsp; 6328 | 6328610 |
|  |  | 10819491 |
| **Commercial Services — 0.7%** | **Commercial Services — 0.7%** | **Commercial Services — 0.7%** |
| Equifax Inc., 2.60%, 12/01/24 | &nbsp;&nbsp; 9183 | 9161084 |
| Global Payments Inc., 1.50%, 11/15/24 | &nbsp;&nbsp; 6196 | 6186421 |
|  |  | 15347505 |
| **Computers — 0.2%** | **Computers — 0.2%** | **Computers — 0.2%** |
| Genpact Luxembourg SARL, 3.38%, 12/01/24 | &nbsp;&nbsp; 5373 | 5360228 |
| **Cosmetics & Personal Care — 0.3%** | **Cosmetics & Personal Care — 0.3%** | **Cosmetics & Personal Care — 0.3%** |
| Estee Lauder Companies Inc. (The), 2.00%, <br> 12/01/24<br>| &nbsp;&nbsp; 6845 | 6824812 |
| **Diversified Financial Services — 1.1%** | **Diversified Financial Services — 1.1%** | **Diversified Financial Services — 1.1%** |
| American Express Co., 3.63%, 12/05/24<sup>(a)</sup> | &nbsp;&nbsp; 8439 | 8439000 |
| Discover Financial Services, 3.95%, 11/06/24 | &nbsp;&nbsp; 6737 | 6737000 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| ORIX Corp., 3.25%, 12/04/24 | &nbsp;&nbsp; $8713 | $8693353 |
|  |  | 23869353 |
| **Electric — 1.9%** | **Electric — 1.9%** | **Electric — 1.9%** |
| Avangrid Inc., 3.15%, 12/01/24 | &nbsp;&nbsp; 7783 | 7768542 |
| DTE Energy Co., 4.22%, 11/01/24<sup>(b)</sup> | &nbsp;&nbsp; 15303 | 15303000 |
| Edison International, 3.55%, 11/15/24 | &nbsp;&nbsp; 6721 | 6715619 |
| Interstate Power & Light Co., 3.25%, 12/01/24<sup>(a)</sup> | &nbsp;&nbsp; 7330 | 7314185 |
| Wisconsin Electric Power Co., 2.05%, <br> 12/15/24<sup>(a)</sup><br>| &nbsp;&nbsp; 4924 | 4904458 |
|  |  | 42005804 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| Honeywell International Inc., 4.85%, 11/01/24 | &nbsp;&nbsp; 5469 | 5469000 |
| Trimble Inc., 4.75%, 12/01/24<sup>(a)</sup> | &nbsp;&nbsp; 5293 | 5286617 |
|  |  | 10755617 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| Hershey Co. (The), 2.05%, 11/15/24 | &nbsp;&nbsp; 2810 | 2806775 |
| **Health Care - Products — 2.2%** | **Health Care - Products — 2.2%** | **Health Care - Products — 2.2%** |
| Baxter International Inc., 1.32%, 11/29/24 | &nbsp;&nbsp; 17255 | 17195212 |
| DH Europe Finance II SARL, 2.20%, 11/15/24 | &nbsp;&nbsp; 8907 | 8896419 |
| GE HealthCare Technologies Inc., 5.55%, <br> 11/15/24<br>| &nbsp;&nbsp; 12485 | 12486116 |
| Zimmer Biomet Holdings Inc., 1.45%, 11/22/24 | &nbsp;&nbsp; 10952 | 10927722 |
|  |  | 49505469 |
| **Health Care - Services — 1.2%** | **Health Care - Services — 1.2%** | **Health Care - Services — 1.2%** |
| Aetna Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 9470 | 9461666 |
| Elevance Health Inc., 3.35%, 12/01/24 | &nbsp;&nbsp; 11497 | 11474135 |
| Laboratory Corp. of America Holdings, 2.30%, <br> 12/01/24<br>| &nbsp;&nbsp; 5556 | 5541193 |
|  |  | 26476994 |
| **Holding Companies - Diversified — 0.5%** | **Holding Companies - Diversified — 0.5%** | **Holding Companies - Diversified — 0.5%** |
| Blackstone Private Credit Fund, 2.35%, 11/22/24 | &nbsp;&nbsp; 6848 | 6829748 |
| Sixth Street Specialty Lending Inc., 3.88%, <br> 11/01/24<br>| &nbsp;&nbsp; 4779 | 4779000 |
|  |  | 11608748 |
| **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** |
| Leggett & Platt Inc., 3.80%, 11/15/24 | &nbsp;&nbsp; 3822 | 3819572 |
| **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |
| First American Financial Corp., 4.60%, 11/15/24 | &nbsp;&nbsp; 2988 | 2981584 |
| **Internet — 2.5%** | **Internet — 2.5%** | **Internet — 2.5%** |
| Alibaba Group Holding Ltd., 3.60%, 11/28/24<sup>(a)</sup> | &nbsp;&nbsp; 26102 | 26063057 |
| Amazon.com Inc. |  |  |
| 3.80%, 12/05/24<sup>(a)</sup> | &nbsp;&nbsp; 15139 | 15113842 |
| 4.70%, 11/29/24 | &nbsp;&nbsp; 14126 | 14121712 |
|  |  | 55298611 |
| **Iron & Steel — 0.3%** | **Iron & Steel — 0.3%** | **Iron & Steel — 0.3%** |
| Steel Dynamics Inc., 2.80%, 12/15/24 | &nbsp;&nbsp; 6157 | 6138484 |
| **Machinery — 0.9%** | **Machinery — 0.9%** | **Machinery — 0.9%** |
| Caterpillar Financial Services Corp. |  |  |
| 2.15%, 11/08/24<sup>(a)</sup> | &nbsp;&nbsp; 11944 | 11937431 |
| 3.25%, 12/01/24 | &nbsp;&nbsp; 7937 | 7925384 |
|  |  | 19862815 |
| **Manufacturing — 0.6%** | **Manufacturing — 0.6%** | **Manufacturing — 0.6%** |
| Carlisle Companies Inc., 3.50%, 12/01/24<sup>(a)</sup> | &nbsp;&nbsp; 6059 | 6048917 |
| Parker-Hannifin Corp., 3.30%, 11/21/24 | &nbsp;&nbsp; 7143 | 7135302 |
|  |  | 13184219 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2024 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Discovery Communications LLC, 3.90%, <br> 11/15/24<br>| &nbsp;&nbsp; $1617 | $1614714 |
| **Mining — 0.4%** | **Mining — 0.4%** | **Mining — 0.4%** |
| Freeport-McMoRan Inc., 4.55%, 11/14/24 | &nbsp;&nbsp; 9421 | 9417335 |
| **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** |
| Chevron USA Inc., 3.90%, 11/15/24 | &nbsp;&nbsp; 6895 | 6891353 |
| Shell International Finance BV, 2.00%, 11/07/24 | &nbsp;&nbsp; 14978 | 14969536 |
|  |  | 21860889 |
| **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** |
| AbbVie Inc., 2.60%, 11/21/24 | &nbsp;&nbsp; 43722 | 43657776 |
| Becton Dickinson & Co., 3.73%, 12/15/24 | &nbsp;&nbsp; 10556 | 10532455 |
| Cardinal Health Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 4952 | 4948288 |
|  |  | 59138519 |
| **Pipelines — 2.0%** | **Pipelines — 2.0%** | **Pipelines — 2.0%** |
| Boardwalk Pipelines LP, 4.95%, 12/15/24<sup>(a)</sup> | &nbsp;&nbsp; 8487 | 8479846 |
| Eastern Energy Gas Holdings LLC |  |  |
| 3.60%, 12/15/24 | &nbsp;&nbsp; 4815 | 4804005 |
| Series A, 2.50%, 11/15/24 | &nbsp;&nbsp; 7666 | 7657524 |
| MPLX LP, 4.88%, 12/01/24 | &nbsp;&nbsp; 13459 | 13452345 |
| Plains All American Pipeline LP/PAA Finance <br> Corp., 3.60%, 11/01/24<sup>(a)</sup><br>| &nbsp;&nbsp; 9081 | 9081000 |
|  |  | 43474720 |
| **Real Estate Investment Trusts — 0.9%** | **Real Estate Investment Trusts — 0.9%** | **Real Estate Investment Trusts — 0.9%** |
| AvalonBay Communities Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 3074 | 3071247 |
| Equinix Inc., 2.63%, 11/18/24 | &nbsp;&nbsp; 12026 | 12010551 |
| Kilroy Realty LP, 3.45%, 12/15/24 | &nbsp;&nbsp; 5761 | 5741640 |
|  |  | 20823438 |
| **Retail — 0.6%** | **Retail — 0.6%** | **Retail — 0.6%** |
| AutoNation Inc., 3.50%, 11/15/24 | &nbsp;&nbsp; 5121 | 5116816 |
| Walmart Inc., 2.65%, 12/15/24<sup>(a)</sup> | &nbsp;&nbsp; 8268 | 8242120 |
|  |  | 13358936 |
| **Semiconductors — 0.6%** | **Semiconductors — 0.6%** | **Semiconductors — 0.6%** |
| KLA Corp., 4.65%, 11/01/24 | &nbsp;&nbsp; 9107 | 9107000 |
| Texas Instruments Inc., 4.70%, 11/18/24 | &nbsp;&nbsp; 3544 | 3542085 |
|  |  | 12649085 |
| **Software — 1.1%** | **Software — 1.1%** | **Software — 1.1%** |
| Oracle Corp., 2.95%, 11/15/24<sup>(a)</sup> | &nbsp;&nbsp; 23688 | 23670104 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications — 0.6%** | **Telecommunications — 0.6%** | **Telecommunications — 0.6%** |
| Verizon Communications Inc., 3.50%, 11/01/24 | &nbsp;&nbsp; $13681 | $13681000 |
| **Toys, Games & Hobbies — 0.3%** | **Toys, Games & Hobbies — 0.3%** | **Toys, Games & Hobbies — 0.3%** |
| Hasbro Inc., 3.00%, 11/19/24 | &nbsp;&nbsp; 6127 | 6118125 |
| **Transportation — 1.3%** | **Transportation — 1.3%** | **Transportation — 1.3%** |
| Canadian National Railway Co., 2.95%, <br> 11/21/24<sup>(a)</sup><br>| &nbsp;&nbsp; 4453 | 4447652 |
| Canadian Pacific Railway Co., 1.35%, 12/02/24 | &nbsp;&nbsp; 17665 | 17608752 |
| United Parcel Service Inc., 2.80%, 11/15/24 | &nbsp;&nbsp; 6044 | 6038736 |
|  |  | 28095140 |
| **Total Long-Term Investments — 35.1%** <br>**(Cost: $778,383,486)** | **Total Long-Term Investments — 35.1%** <br>**(Cost: $778,383,486)** | 778119108 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 65.7%** | **Money Market Funds — 65.7%** | **Money Market Funds — 65.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 22006591 | 22021996 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 1434050000 | 1434050000 |
| **Total Short-Term Securities — 65.7%** <br>**(Cost: $1,456,047,806)** | **Total Short-Term Securities — 65.7%** <br>**(Cost: $1,456,047,806)** | 1456071996 |
| **Total Investments — 100.8%** <br>**(Cost: $2,234,431,292)** | **Total Investments — 100.8%** <br>**(Cost: $2,234,431,292)** | 2234191104 |
| **Liabilities in Excess of Other Assets — (0.8)%** | **Liabilities in Excess of Other Assets — (0.8)%** | (18722518)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2215468586 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2024 Term Corporate ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: In-<br> stitutional, SL Agency <br> Shares<br>| $263254610 | $— | &nbsp;&nbsp; $(241252548 )<sup>(a)</sup><br>| &nbsp;&nbsp; $70697 | $(50763)<br>| $22021996 | 22006591 | $457155 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash <br> Funds: Treasury, SL <br> Agency Shares<br>| 2490000 | 1431560000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 1434050000 | 1434050000 | 13315670 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $70697 | $(50763)<br>| $1456071996 |  | $13772825 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $778119108 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $778119108 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1456071996 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1456071996 |
|  | &nbsp;&nbsp; $1456071996 | &nbsp;&nbsp; $778119108 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2234191104 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Aerospace & Defense — 1.8%** | **Aerospace & Defense — 1.8%** | **Aerospace & Defense — 1.8%** |
| Boeing Co. (The) |  |  |
| 2.60%, 10/30/25<sup>(a)</sup> | &nbsp;&nbsp; $1431 | $1397112 |
| 4.88%, 05/01/25 | &nbsp;&nbsp; 16729 | 16683784 |
| GE Capital International Funding Co. Unlimited <br> Co., 3.37%, 11/15/25<br>| &nbsp;&nbsp; 1414 | 1392356 |
| General Dynamics Corp. |  |  |
| 3.25%, 04/01/25 | &nbsp;&nbsp; 4268 | 4241451 |
| 3.50%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 4567 | 4539321 |
| Hexcel Corp., 4.95%, 08/15/25 | &nbsp;&nbsp; 1837 | 1830638 |
| L3Harris Technologies Inc., 3.83%, 04/27/25 | &nbsp;&nbsp; 3595 | 3574961 |
| Lockheed Martin Corp., 4.95%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2587 | 2598262 |
| Northrop Grumman Corp., 2.93%, 01/15/25 | &nbsp;&nbsp; 7623 | 7587737 |
| RTX Corp., 3.95%, 08/16/25<sup>(a)</sup> | &nbsp;&nbsp; 8116 | 8065071 |
|  |  | 51910693 |
| **Agriculture — 1.0%** | **Agriculture — 1.0%** | **Agriculture — 1.0%** |
| Altria Group Inc., 2.35%, 05/06/25 | &nbsp;&nbsp; 4312 | 4254091 |
| Bunge Ltd. Finance Corp., 1.63%, 08/17/25 | &nbsp;&nbsp; 3262 | 3180836 |
| Philip Morris International Inc. |  |  |
| 1.50%, 05/01/25 | &nbsp;&nbsp; 3837 | 3773550 |
| 3.38%, 08/11/25<sup>(a)</sup> | &nbsp;&nbsp; 3913 | 3878805 |
| 5.00%, 11/17/25 | &nbsp;&nbsp; 3654 | 3671929 |
| Reynolds American Inc., 4.45%, 06/12/25 | &nbsp;&nbsp; 9653 | 9616915 |
|  |  | 28376126 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| Southwest Airlines Co., 5.25%, 05/04/25<sup>(a)</sup> | &nbsp;&nbsp; 6754 | 6755920 |
| United Airlines Pass-Through Trust, Series 2013-1, <br> Class A, 4.30%, 08/15/25<br>| &nbsp;&nbsp; 1222 | 1207137 |
|  |  | 7963057 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| NIKE Inc., 2.40%, 03/27/25<sup>(a)</sup> | &nbsp;&nbsp; 5989 | 5933026 |
| PVH Corp., 4.63%, 07/10/25<sup>(a)</sup> | &nbsp;&nbsp; 2880 | 2865300 |
| Ralph Lauren Corp., 3.75%, 09/15/25 | &nbsp;&nbsp; 2704 | 2682234 |
| Tapestry Inc. |  |  |
| 4.25%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1260 | 1253134 |
| 7.05%, 11/27/25<sup>(a)</sup> | &nbsp;&nbsp; 2316 | 2348036 |
|  |  | 15081730 |
| **Auto Manufacturers — 5.7%** | **Auto Manufacturers — 5.7%** | **Auto Manufacturers — 5.7%** |
| American Honda Finance Corp. |  |  |
| 1.00%, 09/10/25<sup>(a)</sup> | &nbsp;&nbsp; 3546 | 3440223 |
| 1.20%, 07/08/25<sup>(a)</sup> | &nbsp;&nbsp; 3596 | 3510195 |
| 1.50%, 01/13/25 | &nbsp;&nbsp; 4585 | 4553168 |
| 5.00%, 05/23/25<sup>(a)</sup> | &nbsp;&nbsp; 2855 | 2858081 |
| 5.80%, 10/03/25<sup>(a)</sup> | &nbsp;&nbsp; 4658 | 4709975 |
| Series A, 4.60%, 04/17/25<sup>(a)</sup> | &nbsp;&nbsp; 4065 | 4058969 |
| Cummins Inc., 0.75%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3289 | 3187334 |
| Ford Motor Credit Co. LLC |  |  |
| 2.30%, 02/10/25 | &nbsp;&nbsp; 6130 | 6074973 |
| 3.38%, 11/13/25 | &nbsp;&nbsp; 10181 | 9986164 |
| 4.13%, 08/04/25 | &nbsp;&nbsp; 6936 | 6874489 |
| 4.69%, 06/09/25 | &nbsp;&nbsp; 3140 | 3126039 |
| 5.13%, 06/16/25 | &nbsp;&nbsp; 8530 | 8508744 |
| General Motors Co. |  |  |
| 4.00%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2111 | 2100578 |
| 6.13%, 10/01/25 | &nbsp;&nbsp; 9508 | 9593519 |
| General Motors Financial Co. Inc. |  |  |
| 2.75%, 06/20/25 | &nbsp;&nbsp; 5903 | 5816368 |
| 2.90%, 02/26/25 | &nbsp;&nbsp; 5906 | 5862871 |
| 3.80%, 04/07/25 | &nbsp;&nbsp; 4820 | 4792120 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 4.00%, 01/15/25 | &nbsp;&nbsp; $4255 | $4243686 |
| 4.30%, 07/13/25<sup>(a)</sup> | &nbsp;&nbsp; 3688 | 3668868 |
| 4.35%, 04/09/25 | &nbsp;&nbsp; 4312 | 4297414 |
| 6.05%, 10/10/25 | &nbsp;&nbsp; 6618 | 6684160 |
| Honda Motor Co. Ltd., 2.27%, 03/10/25<sup>(a)</sup> | &nbsp;&nbsp; 4385 | 4342563 |
| PACCAR Financial Corp. |  |  |
| 1.80%, 02/06/25<sup>(a)</sup> | &nbsp;&nbsp; 3092 | 3065276 |
| 2.85%, 04/07/25<sup>(a)</sup> | &nbsp;&nbsp; 1975 | 1959667 |
| 3.55%, 08/11/25 | &nbsp;&nbsp; 2655 | 2636463 |
| 4.95%, 10/03/25 | &nbsp;&nbsp; 1873 | 1883632 |
| Toyota Motor Credit Corp. |  |  |
| 0.80%, 10/16/25 | &nbsp;&nbsp; 4252 | 4105321 |
| 1.45%, 01/13/25 | &nbsp;&nbsp; 5594 | 5554633 |
| 1.80%, 02/13/25<sup>(a)</sup> | &nbsp;&nbsp; 6679 | 6619042 |
| 3.00%, 04/01/25 | &nbsp;&nbsp; 5156 | 5118027 |
| 3.40%, 04/14/25<sup>(a)</sup> | &nbsp;&nbsp; 1940 | 1927457 |
| 3.65%, 08/18/25 | &nbsp;&nbsp; 3463 | 3440790 |
| 3.95%, 06/30/25<sup>(a)</sup> | &nbsp;&nbsp; 5553 | 5525595 |
| 4.80%, 01/10/25 | &nbsp;&nbsp; 5017 | 5014314 |
| 5.40%, 11/10/25 | &nbsp;&nbsp; 2961 | 2989020 |
| 5.60%, 09/11/25<sup>(a)</sup> | &nbsp;&nbsp; 2905 | 2930806 |
|  |  | 165060544 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| BorgWarner Inc., 3.38%, 03/15/25 | &nbsp;&nbsp; 95 | 94298 |
| Magna International Inc., 4.15%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3977 | 3960279 |
|  |  | 4054577 |
| **Banks — 26.3%** | **Banks — 26.3%** | **Banks — 26.3%** |
| Australia & New Zealand Banking Group Ltd. |  |  |
| 3.70%, 11/16/25 | &nbsp;&nbsp; 4155 | 4119744 |
| 5.09%, 12/08/25 | &nbsp;&nbsp; 6114 | 6148574 |
| 5.38%, 07/03/25<sup>(a)</sup> | &nbsp;&nbsp; 5188 | 5214204 |
| Australia & New Zealand Banking Group Ltd./New <br> York, 5.67%, 10/03/25<sup>(a)</sup><br>| &nbsp;&nbsp; 4175 | 4213223 |
| Banco Bilbao Vizcaya Argentaria SA, 1.13%, <br> 09/18/25<sup>(a)</sup><br>| &nbsp;&nbsp; 4660 | 4514932 |
| Banco Santander SA |  |  |
| 2.75%, 05/28/25 | &nbsp;&nbsp; 7199 | 7105961 |
| 3.50%, 03/24/25<sup>(a)</sup> | &nbsp;&nbsp; 6240 | 6208156 |
| 5.15%, 08/18/25<sup>(a)</sup> | &nbsp;&nbsp; 8930 | 8938891 |
| 5.18%, 11/19/25 | &nbsp;&nbsp; 7115 | 7110496 |
| Bank of America Corp. |  |  |
| 3.88%, 08/01/25 | &nbsp;&nbsp; 8832 | 8790190 |
| 4.00%, 01/22/25 | &nbsp;&nbsp; 11844 | 11810657 |
| Series L, 3.95%, 04/21/25<sup>(a)</sup> | &nbsp;&nbsp; 11872 | 11817172 |
| Bank of America NA, 5.65%, 08/18/25 | &nbsp;&nbsp; 9665 | 9743464 |
| Bank of Montreal |  |  |
| 1.50%, 01/10/25 | &nbsp;&nbsp; 6990 | 6941812 |
| 1.85%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 7573 | 7462308 |
| 3.70%, 06/07/25<sup>(a)</sup> | &nbsp;&nbsp; 6410 | 6367848 |
| 5.92%, 09/25/25 | &nbsp;&nbsp; 5306 | 5366377 |
| Bank of New York Mellon Corp. (The) |  |  |
| 1.60%, 04/24/25 | &nbsp;&nbsp; 6983 | 6876536 |
| 3.35%, 04/25/25<sup>(a)</sup> | &nbsp;&nbsp; 310 | 307953 |
| 3.95%, 11/18/25<sup>(a)</sup> | &nbsp;&nbsp; 2071 | 2058990 |
| Series G, 3.00%, 02/24/25 | &nbsp;&nbsp; 4146 | 4121445 |
| Bank of Nova Scotia (The) |  |  |
| 1.30%, 06/11/25 | &nbsp;&nbsp; 5690 | 5567409 |
| 1.45%, 01/10/25 | &nbsp;&nbsp; 5796 | 5754916 |
| 2.20%, 02/03/25 | &nbsp;&nbsp; 5999 | 5955682 |
| 3.45%, 04/11/25 | &nbsp;&nbsp; 7995 | 7946189 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.45%, 06/12/25<sup>(a)</sup> | &nbsp;&nbsp; $8145 | $8171322 |
| BankUnited Inc., 4.88%, 11/17/25 | &nbsp;&nbsp; 1907 | 1896601 |
| Barclays PLC, 3.65%, 03/16/25 | &nbsp;&nbsp; 10171 | 10116160 |
| Canadian Imperial Bank of Commerce |  |  |
| 0.95%, 10/23/25<sup>(a)</sup> | &nbsp;&nbsp; 3058 | 2953552 |
| 2.25%, 01/28/25 | &nbsp;&nbsp; 5202 | 5167582 |
| 3.30%, 04/07/25 | &nbsp;&nbsp; 6676 | 6632355 |
| 3.95%, 08/04/25 | &nbsp;&nbsp; 6402 | 6367039 |
| 5.14%, 04/28/25 | &nbsp;&nbsp; 4790 | 4798428 |
| Citibank NA, 5.86%, 09/29/25 | &nbsp;&nbsp; 8035 | 8122647 |
| Citigroup Inc. |  |  |
| 3.30%, 04/27/25 | &nbsp;&nbsp; 7602 | 7547676 |
| 3.88%, 03/26/25<sup>(a)</sup> | &nbsp;&nbsp; 4902 | 4877121 |
| 4.40%, 06/10/25 | &nbsp;&nbsp; 11965 | 11918005 |
| 5.50%, 09/13/25<sup>(a)</sup> | &nbsp;&nbsp; 7132 | 7164957 |
| Citizens Bank NA, 2.25%, 04/28/25<sup>(a)</sup> | &nbsp;&nbsp; 3671 | 3621646 |
| Citizens Financial Group Inc., 4.30%, 12/03/25<sup>(a)</sup> | &nbsp;&nbsp; 1620 | 1606092 |
| Comerica Bank, 4.00%, 07/27/25<sup>(a)</sup> | &nbsp;&nbsp; 1467 | 1452423 |
| Commonwealth Bank of Australia/New York |  |  |
| 5.08%, 01/10/25<sup>(a)</sup> | &nbsp;&nbsp; 5698 | 5698088 |
| 5.50%, 09/12/25<sup>(a)</sup> | &nbsp;&nbsp; 4593 | 4628048 |
| Cooperatieve Rabobank UA, 4.38%, 08/04/25 | &nbsp;&nbsp; 7065 | 7014703 |
| Cooperatieve Rabobank UA/New York |  |  |
| 1.38%, 01/10/25 | &nbsp;&nbsp; 4505 | 4473259 |
| 3.38%, 05/21/25<sup>(a)</sup> | &nbsp;&nbsp; 5192 | 5151782 |
| 5.00%, 01/13/25<sup>(a)</sup> | &nbsp;&nbsp; 4345 | 4344144 |
| 5.50%, 07/18/25<sup>(a)</sup> | &nbsp;&nbsp; 4233 | 4254740 |
| Deutsche Bank AG, 4.50%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 7550 | 7515390 |
| Deutsche Bank AG/New York, 4.16%, 05/13/25 | &nbsp;&nbsp; 3023 | 3010055 |
| Fifth Third Bancorp, 2.38%, 01/28/25 | &nbsp;&nbsp; 3884 | 3857690 |
| Fifth Third Bank NA, 3.95%, 07/28/25<sup>(a)</sup> | &nbsp;&nbsp; 4083 | 4052750 |
| First Horizon Corp., 4.00%, 05/26/25 | &nbsp;&nbsp; 1742 | 1726071 |
| FNB Corp., 5.15%, 08/25/25 | &nbsp;&nbsp; 1875 | 1872140 |
| Goldman Sachs Group Inc. (The) |  |  |
| 3.50%, 01/23/25 | &nbsp;&nbsp; 11962 | 11920906 |
| 3.50%, 04/01/25 | &nbsp;&nbsp; 16698 | 16603533 |
| 3.75%, 05/22/25 | &nbsp;&nbsp; 10692 | 10628029 |
| 4.25%, 10/21/25 | &nbsp;&nbsp; 9820 | 9764078 |
| HSBC Holdings PLC, 4.25%, 08/18/25 | &nbsp;&nbsp; 7829 | 7770321 |
| HSBC USA Inc., 5.63%, 03/17/25<sup>(a)</sup> | &nbsp;&nbsp; 5640 | 5655513 |
| Huntington Bancshares Inc./Ohio, 4.00%, <br> 05/15/25<br>| &nbsp;&nbsp; 2393 | 2380026 |
| JPMorgan Chase & Co. |  |  |
| 3.13%, 01/23/25<sup>(a)</sup> | &nbsp;&nbsp; 11966 | 11917386 |
| 3.90%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 11986 | 11923387 |
| 7.75%, 07/15/25 | &nbsp;&nbsp; 1568 | 1601164 |
| KeyBank NA/Cleveland OH |  |  |
| 3.30%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3216 | 3177977 |
| 4.15%, 08/08/25<sup>(a)</sup> | &nbsp;&nbsp; 6001 | 5956066 |
| KeyCorp, 4.15%, 10/29/25 | &nbsp;&nbsp; 2651 | 2632774 |
| Lloyds Bank PLC, 3.50%, 05/14/25 | &nbsp;&nbsp; 1143 | 1134848 |
| Lloyds Banking Group PLC |  |  |
| 4.45%, 05/08/25<sup>(a)</sup> | &nbsp;&nbsp; 9538 | 9515235 |
| 4.58%, 12/10/25 | &nbsp;&nbsp; 5935 | 5891781 |
| Manufacturers & Traders Trust Co. |  |  |
| 2.90%, 02/06/25<sup>(a)</sup> | &nbsp;&nbsp; 4176 | 4147003 |
| 5.40%, 11/21/25 | &nbsp;&nbsp; 2607 | 2619088 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 1.41%, 07/17/25 | &nbsp;&nbsp; 8287 | 8093177 |
| 2.19%, 02/25/25<sup>(a)</sup> | &nbsp;&nbsp; 12696 | 12587570 |
| 3.78%, 03/02/25 | &nbsp;&nbsp; 3744 | 3728361 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Morgan Stanley |  |  |
| 4.00%, 07/23/25 | &nbsp;&nbsp; $14749 | $14680939 |
| 5.00%, 11/24/25 | &nbsp;&nbsp; 9398 | 9422789 |
| Morgan Stanley Bank NA, 5.48%, 07/16/25 | &nbsp;&nbsp; 6455 | 6491547 |
| National Australia Bank Ltd./New York |  |  |
| 3.50%, 06/09/25<sup>(a)</sup> | &nbsp;&nbsp; 3022 | 2999508 |
| 4.75%, 12/10/25 | &nbsp;&nbsp; 4561 | 4568248 |
| 5.20%, 05/13/25<sup>(a)</sup> | &nbsp;&nbsp; 4945 | 4956281 |
| National Bank of Canada, 5.25%, 01/17/25<sup>(a)</sup> | &nbsp;&nbsp; 5655 | 5654425 |
| Northern Trust Corp., 3.95%, 10/30/25<sup>(a)</sup> | &nbsp;&nbsp; 4105 | 4082184 |
| PNC Bank NA |  |  |
| 2.95%, 02/23/25 | &nbsp;&nbsp; 4097 | 4070368 |
| 3.25%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4194 | 4158176 |
| 3.88%, 04/10/25<sup>(a)</sup> | &nbsp;&nbsp; 3312 | 3295277 |
| 4.20%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2729 | 2715686 |
| Regions Financial Corp., 2.25%, 05/18/25 | &nbsp;&nbsp; 3965 | 3904899 |
| Royal Bank of Canada |  |  |
| 1.15%, 06/10/25<sup>(a)</sup> | &nbsp;&nbsp; 7694 | 7529094 |
| 1.60%, 01/21/25<sup>(a)</sup> | &nbsp;&nbsp; 4845 | 4809338 |
| 3.38%, 04/14/25 | &nbsp;&nbsp; 7021 | 6977078 |
| 4.95%, 04/25/25 | &nbsp;&nbsp; 6832 | 6836651 |
| Santander Holdings USA Inc. |  |  |
| 3.45%, 06/02/25 | &nbsp;&nbsp; 5018 | 4965251 |
| 4.50%, 07/17/25<sup>(a)</sup> | &nbsp;&nbsp; 5666 | 5637704 |
| State Street Corp., 3.55%, 08/18/25<sup>(a)</sup> | &nbsp;&nbsp; 7394 | 7348260 |
| Sumitomo Mitsui Banking Corp., 3.65%, <br> 07/23/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1010 | 1002005 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 1.47%, 07/08/25 | &nbsp;&nbsp; 12334 | 12065922 |
| 2.35%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 7419 | 7377577 |
| Synchrony Bank, 5.40%, 08/22/25<sup>(a)</sup> | &nbsp;&nbsp; 3575 | 3576593 |
| Synovus Financial Corp., 5.20%, 08/11/25 | &nbsp;&nbsp; 1518 | 1517989 |
| Toronto-Dominion Bank (The) |  |  |
| 0.75%, 09/11/25<sup>(a)</sup> | &nbsp;&nbsp; 5158 | 4990179 |
| 1.15%, 06/12/25 | &nbsp;&nbsp; 4932 | 4823219 |
| 1.45%, 01/10/25<sup>(a)</sup> | &nbsp;&nbsp; 4310 | 4280092 |
| 3.77%, 06/06/25<sup>(a)</sup> | &nbsp;&nbsp; 8043 | 7991792 |
| Truist Bank |  |  |
| 1.50%, 03/10/25 | &nbsp;&nbsp; 6055 | 5982716 |
| 3.63%, 09/16/25 | &nbsp;&nbsp; 5730 | 5673753 |
| 4.05%, 11/03/25 | &nbsp;&nbsp; 2823 | 2806278 |
| Truist Financial Corp. |  |  |
| 1.20%, 08/05/25<sup>(a)</sup> | &nbsp;&nbsp; 3742 | 3643755 |
| 3.70%, 06/05/25<sup>(a)</sup> | &nbsp;&nbsp; 4443 | 4413236 |
| 4.00%, 05/01/25 | &nbsp;&nbsp; 4095 | 4076355 |
| U.S. Bancorp |  |  |
| 1.45%, 05/12/25<sup>(a)</sup> | &nbsp;&nbsp; 7263 | 7140054 |
| 3.95%, 11/17/25<sup>(a)</sup> | &nbsp;&nbsp; 3626 | 3601417 |
| U.S. Bank NA/Cincinnati OH |  |  |
| 2.05%, 01/21/25<sup>(a)</sup> | &nbsp;&nbsp; 4706 | 4676119 |
| 2.80%, 01/27/25 | &nbsp;&nbsp; 4798 | 4770163 |
| UBS AG/London, 5.80%, 09/11/25 | &nbsp;&nbsp; 4825 | 4875434 |
| UBS AG/Stamford CT |  |  |
| 2.95%, 04/09/25<sup>(a)</sup> | &nbsp;&nbsp; 5839 | 5788544 |
| 3.70%, 02/21/25 | &nbsp;&nbsp; 8772 | 8736609 |
| 7.95%, 01/09/25 | &nbsp;&nbsp; 5951 | 5980707 |
| UBS Group AG, 3.75%, 03/26/25 | &nbsp;&nbsp; 11150 | 11101397 |
| Wells Fargo & Co. |  |  |
| 3.00%, 02/19/25<sup>(a)</sup> | &nbsp;&nbsp; 13119 | 13040883 |
| 3.55%, 09/29/25<sup>(a)</sup> | &nbsp;&nbsp; 12336 | 12221753 |
| Wells Fargo Bank NA, 5.55%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 10164 | 10225330 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Westpac Banking Corp. |  |  |
| 2.35%, 02/19/25<sup>(a)</sup> | &nbsp;&nbsp; $7711 | $7651927 |
| 3.74%, 08/26/25<sup>(a)</sup> | &nbsp;&nbsp; 3573 | 3547228 |
| 5.51%, 11/17/25 | &nbsp;&nbsp; 4891 | 4943144 |
|  |  | 757749691 |
| **Beverages — 1.4%** | **Beverages — 1.4%** | **Beverages — 1.4%** |
| Brown-Forman Corp., 3.50%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1737 | 1726971 |
| Coca-Cola Consolidated Inc., 3.80%, 11/25/25<sup>(a)</sup> | &nbsp;&nbsp; 1846 | 1828265 |
| Constellation Brands Inc. |  |  |
| 4.40%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2720 | 2706862 |
| 4.75%, 12/01/25 | &nbsp;&nbsp; 2120 | 2116314 |
| Diageo Capital PLC |  |  |
| 1.38%, 09/29/25<sup>(a)</sup> | &nbsp;&nbsp; 4094 | 3979280 |
| 5.20%, 10/24/25 | &nbsp;&nbsp; 2560 | 2578485 |
| Keurig Dr Pepper Inc. |  |  |
| 3.40%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2751 | 2715809 |
| 4.42%, 05/25/25 | &nbsp;&nbsp; 2931 | 2922961 |
| PepsiCo Inc. |  |  |
| 2.25%, 03/19/25 | &nbsp;&nbsp; 7038 | 6971788 |
| 2.75%, 04/30/25<sup>(a)</sup> | &nbsp;&nbsp; 4617 | 4572867 |
| 3.50%, 07/17/25<sup>(a)</sup> | &nbsp;&nbsp; 3286 | 3258516 |
| 5.25%, 11/10/25 | &nbsp;&nbsp; 3932 | 3964191 |
|  |  | 39342309 |
| **Biotechnology — 1.5%** | **Biotechnology — 1.5%** | **Biotechnology — 1.5%** |
| Amgen Inc. |  |  |
| 1.90%, 02/21/25 | &nbsp;&nbsp; 4149 | 4109373 |
| 3.13%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4947 | 4897742 |
| 5.25%, 03/02/25 | &nbsp;&nbsp; 7085 | 7089163 |
| Baxalta Inc., 4.00%, 06/23/25<sup>(a)</sup> | &nbsp;&nbsp; 3853 | 3832637 |
| Biogen Inc., 4.05%, 09/15/25 | &nbsp;&nbsp; 8684 | 8620892 |
| Gilead Sciences Inc., 3.50%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 7953 | 7921735 |
| Illumina Inc., 5.80%, 12/12/25 | &nbsp;&nbsp; 2251 | 2271367 |
| Royalty Pharma PLC, 1.20%, 09/02/25 | &nbsp;&nbsp; 5347 | 5188293 |
|  |  | 43931202 |
| **Building Materials — 0.4%** | **Building Materials — 0.4%** | **Building Materials — 0.4%** |
| Carrier Global Corp., 2.24%, 02/15/25 | &nbsp;&nbsp; 5341 | 5297894 |
| Fortune Brands Innovations Inc., 4.00%, <br> 06/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 2607 | 2590172 |
| Lennox International Inc., 1.35%, 08/01/25 | &nbsp;&nbsp; 1612 | 1568449 |
| Vulcan Materials Co., 4.50%, 04/01/25 | &nbsp;&nbsp; 1837 | 1831953 |
|  |  | 11288468 |
| **Chemicals — 1.3%** | **Chemicals — 1.3%** | **Chemicals — 1.3%** |
| Air Products and Chemicals Inc., 1.50%, <br> 10/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 2733 | 2657718 |
| Celanese U.S. Holdings LLC, 6.05%, 03/15/25 | &nbsp;&nbsp; 5107 | 5116472 |
| DuPont de Nemours Inc., 4.49%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 8726 | 8699285 |
| Eastman Chemical Co., 3.80%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2071 | 2059395 |
| EIDP Inc., 1.70%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2679 | 2622257 |
| Linde Inc./CT |  |  |
| 2.65%, 02/05/25 | &nbsp;&nbsp; 2572 | 2555032 |
| 4.70%, 12/05/25 | &nbsp;&nbsp; 2492 | 2495264 |
| LYB International Finance III LLC, 1.25%, <br> 10/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 2713 | 2628693 |
| Nutrien Ltd. |  |  |
| 3.00%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2543 | 2524355 |
| 5.95%, 11/07/25<sup>(a)</sup> | &nbsp;&nbsp; 2355 | 2388367 |
| Sherwin-Williams Co. (The) |  |  |
| 3.45%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2399 | 2372726 |
| 4.25%, 08/08/25<sup>(a)</sup> | &nbsp;&nbsp; 2168 | 2162112 |
|  |  | 38281676 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services — 1.0%** | **Commercial Services — 1.0%** | **Commercial Services — 1.0%** |
| Automatic Data Processing Inc., 3.38%, 09/15/25 | &nbsp;&nbsp; $5354 | $5303208 |
| Block Financial LLC, 5.25%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1907 | 1911533 |
| Cintas Corp. No. 2, 3.45%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1505 | 1492653 |
| Equifax Inc., 2.60%, 12/15/25 | &nbsp;&nbsp; 2104 | 2053110 |
| Global Payments Inc., 2.65%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5241 | 5202184 |
| Moody's Corp., 3.75%, 03/24/25 | &nbsp;&nbsp; 3822 | 3799088 |
| PayPal Holdings Inc., 1.65%, 06/01/25 | &nbsp;&nbsp; 5988 | 5880858 |
| Verisk Analytics Inc., 4.00%, 06/15/25 | &nbsp;&nbsp; 1162 | 1154824 |
| Yale University, Series 2020, 0.87%, 04/15/25 | &nbsp;&nbsp; 2169 | 2128901 |
|  |  | 28926359 |
| **Computers — 2.3%** | **Computers — 2.3%** | **Computers — 2.3%** |
| Apple Inc. |  |  |
| 0.55%, 08/20/25<sup>(a)</sup> | &nbsp;&nbsp; 5520 | 5352292 |
| 1.13%, 05/11/25<sup>(a)</sup> | &nbsp;&nbsp; 9807 | 9629175 |
| 2.50%, 02/09/25<sup>(a)</sup> | &nbsp;&nbsp; 5295 | 5262672 |
| 2.75%, 01/13/25 | &nbsp;&nbsp; 6962 | 6932543 |
| 3.20%, 05/13/25<sup>(a)</sup> | &nbsp;&nbsp; 8671 | 8605789 |
| Hewlett Packard Enterprise Co., 4.90%, 10/15/25 | &nbsp;&nbsp; 12501 | 12512318 |
| HP Inc., 2.20%, 06/17/25 | &nbsp;&nbsp; 6029 | 5924013 |
| International Business Machines Corp. |  |  |
| 4.00%, 07/27/25<sup>(a)</sup> | &nbsp;&nbsp; 4726 | 4699039 |
| 7.00%, 10/30/25 | &nbsp;&nbsp; 3124 | 3201813 |
| Leidos Inc., 3.63%, 05/15/25 | &nbsp;&nbsp; 1461 | 1448308 |
| NetApp Inc., 1.88%, 06/22/25<sup>(a)</sup> | &nbsp;&nbsp; 4212 | 4126555 |
|  |  | 67694517 |
| **Cosmetics & Personal Care — 0.7%** | **Cosmetics & Personal Care — 0.7%** | **Cosmetics & Personal Care — 0.7%** |
| Colgate-Palmolive Co., 3.10%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2035 | 2013300 |
| Haleon U.K. Capital PLC |  |  |
| 3.13%, 03/24/25<sup>(b)</sup> | &nbsp;&nbsp; 305 | 302754 |
| 3.13%, 03/24/25 | &nbsp;&nbsp; 6385 | 6337984 |
| Kenvue Inc., 5.50%, 03/22/25<sup>(a)</sup> | &nbsp;&nbsp; 2090 | 2094091 |
| Procter & Gamble Co. (The), 0.55%, 10/29/25 | &nbsp;&nbsp; 4231 | 4073987 |
| Unilever Capital Corp. |  |  |
| 3.10%, 07/30/25<sup>(a)</sup> | &nbsp;&nbsp; 2360 | 2336072 |
| 3.38%, 03/22/25<sup>(a)</sup> | &nbsp;&nbsp; 2308 | 2294904 |
|  |  | 19453092 |
| **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** |
| WW Grainger Inc., 1.85%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2765 | 2739656 |
| **Diversified Financial Services — 5.7%** | **Diversified Financial Services — 5.7%** | **Diversified Financial Services — 5.7%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 3.50%, 01/15/25 | &nbsp;&nbsp; 3850 | 3836861 |
| 4.45%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3246 | 3237805 |
| 6.50%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 6268 | 6325482 |
| Affiliated Managers Group Inc., 3.50%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2006 | 1986388 |
| Air Lease Corp. |  |  |
| 2.30%, 02/01/25 | &nbsp;&nbsp; 3754 | 3724901 |
| 3.25%, 03/01/25 | &nbsp;&nbsp; 3219 | 3198175 |
| 3.38%, 07/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4236 | 4192058 |
| Ally Financial Inc. |  |  |
| 4.63%, 03/30/25<sup>(a)</sup> | &nbsp;&nbsp; 2574 | 2565610 |
| 5.80%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4023 | 4033673 |
| American Express Co. |  |  |
| 2.25%, 03/04/25<sup>(a)</sup> | &nbsp;&nbsp; 8470 | 8394148 |
| 3.95%, 08/01/25<sup>(a)</sup> | &nbsp;&nbsp; 11164 | 11109654 |
| 4.20%, 11/06/25<sup>(a)</sup> | &nbsp;&nbsp; 4061 | 4047750 |
| Ameriprise Financial Inc., 3.00%, 04/02/25<sup>(a)</sup> | &nbsp;&nbsp; 2913 | 2891091 |
| Capital One Financial Corp. |  |  |
| 3.20%, 02/05/25 | &nbsp;&nbsp; 5318 | 5291344 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| 4.20%, 10/29/25 | &nbsp;&nbsp; $7000 | $6950187 |
| 4.25%, 04/30/25<sup>(a)</sup> | &nbsp;&nbsp; 4042 | 4028235 |
| Charles Schwab Corp. (The) |  |  |
| 3.00%, 03/10/25<sup>(a)</sup> | &nbsp;&nbsp; 1862 | 1849635 |
| 3.63%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2074 | 2063140 |
| 3.85%, 05/21/25<sup>(a)</sup> | &nbsp;&nbsp; 3485 | 3465703 |
| 4.20%, 03/24/25 | &nbsp;&nbsp; 2626 | 2618472 |
| CME Group Inc., 3.00%, 03/15/25 | &nbsp;&nbsp; 4387 | 4356679 |
| Discover Financial Services, 3.75%, 03/04/25 | &nbsp;&nbsp; 2613 | 2597918 |
| Franklin Resources Inc., 2.85%, 03/30/25 | &nbsp;&nbsp; 2070 | 2052207 |
| Intercontinental Exchange Inc. |  |  |
| 3.65%, 05/23/25<sup>(a)</sup> | &nbsp;&nbsp; 4976 | 4942070 |
| 3.75%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; 6933 | 6870197 |
| Janus Henderson U.S. Holdings Inc., 4.88%, <br> 08/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1505 | 1505218 |
| Mastercard Inc., 2.00%, 03/03/25<sup>(a)</sup> | &nbsp;&nbsp; 3881 | 3846001 |
| Nasdaq Inc., 5.65%, 06/28/25 | &nbsp;&nbsp; 2709 | 2720793 |
| Nomura Holdings Inc. |  |  |
| 1.85%, 07/16/25 | &nbsp;&nbsp; 7023 | 6864735 |
| 2.65%, 01/16/25<sup>(a)</sup> | &nbsp;&nbsp; 7570 | 7529107 |
| 5.10%, 07/03/25 | &nbsp;&nbsp; 3603 | 3601833 |
| Synchrony Financial |  |  |
| 4.50%, 07/23/25 | &nbsp;&nbsp; 5205 | 5176351 |
| 4.88%, 06/13/25 | &nbsp;&nbsp; 3936 | 3924636 |
| Visa Inc., 3.15%, 12/14/25 | &nbsp;&nbsp; 19456 | 19188172 |
| Western Union Co. (The), 2.85%, 01/10/25 | &nbsp;&nbsp; 2508 | 2494162 |
|  |  | 163480391 |
| **Electric — 5.7%** | **Electric — 5.7%** | **Electric — 5.7%** |
| Ameren Illinois Co., 3.25%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1816 | 1805470 |
| American Electric Power Co. Inc. |  |  |
| 5.70%, 08/15/25 | &nbsp;&nbsp; 3981 | 4002314 |
| Series N, 1.00%, 11/01/25 | &nbsp;&nbsp; 2439 | 2348836 |
| Appalachian Power Co., 3.40%, 06/01/25 | &nbsp;&nbsp; 1916 | 1897081 |
| Arizona Public Service Co., 3.15%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2083 | 2063204 |
| Avangrid Inc., 3.20%, 04/15/25 | &nbsp;&nbsp; 4290 | 4252810 |
| Berkshire Hathaway Energy Co. |  |  |
| 3.50%, 02/01/25 | &nbsp;&nbsp; 2306 | 2296213 |
| 4.05%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 6301 | 6280321 |
| Connecticut Light and Power Co. (The), Series A, <br> 0.75%, 12/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1567 | 1501023 |
| Constellation Energy Generation LLC, 3.25%, <br> 06/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 4677 | 4627039 |
| Dominion Energy Inc. |  |  |
| 3.90%, 10/01/25 | &nbsp;&nbsp; 3793 | 3765029 |
| Series A, 3.30%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2746 | 2728691 |
| DTE Electric Co., 3.38%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2103 | 2093791 |
| DTE Energy Co., Series F, 1.05%, 06/01/25 | &nbsp;&nbsp; 4212 | 4120019 |
| Duke Energy Corp. |  |  |
| 0.90%, 09/15/25 | &nbsp;&nbsp; 3331 | 3219848 |
| 5.00%, 12/08/25<sup>(a)</sup> | &nbsp;&nbsp; 2392 | 2397282 |
| Duke Energy Progress LLC, 3.25%, 08/15/25 | &nbsp;&nbsp; 2360 | 2336317 |
| Edison International |  |  |
| 4.70%, 08/15/25 | &nbsp;&nbsp; 2064 | 2057076 |
| 4.95%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2100 | 2098056 |
| Entergy Corp., 0.90%, 09/15/25 | &nbsp;&nbsp; 3942 | 3808871 |
| Evergy Metro Inc., 3.65%, 08/15/25 | &nbsp;&nbsp; 1639 | 1625338 |
| Eversource Energy |  |  |
| Series H, 3.15%, 01/15/25 | &nbsp;&nbsp; 1988 | 1978552 |
| Series Q, 0.80%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2004 | 1938422 |
| Exelon Corp., 3.95%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3969 | 3944623 |
| FirstEnergy Corp., 2.05%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 255 | 252303 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Florida Power & Light Co. |  |  |
| 2.85%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; $5035 | $4994790 |
| 3.13%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2679 | 2639250 |
| Iberdrola International BV, 5.81%, 03/15/25 | &nbsp;&nbsp; 2372 | 2377065 |
| Louisville Gas & Electric Co., Series 25, 3.30%, <br> 10/01/25<br>| &nbsp;&nbsp; 1392 | 1377750 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 1.88%, 02/07/25<sup>(a)</sup> | &nbsp;&nbsp; 2225 | 2206615 |
| 2.85%, 01/27/25 | &nbsp;&nbsp; 2587 | 2574356 |
| 3.25%, 11/01/25 | &nbsp;&nbsp; 2128 | 2099146 |
| 3.45%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1323 | 1312430 |
| 5.45%, 10/30/25<sup>(a)</sup> | &nbsp;&nbsp; 2545 | 2568394 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 4.45%, 06/20/25 | &nbsp;&nbsp; 3977 | 3965767 |
| 5.75%, 09/01/25 | &nbsp;&nbsp; 9776 | 9850721 |
| 6.05%, 03/01/25 | &nbsp;&nbsp; 9818 | 9849934 |
| Oncor Electric Delivery Co. LLC |  |  |
| 0.55%, 10/01/25 | &nbsp;&nbsp; 2756 | 2660354 |
| 2.95%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1772 | 1758503 |
| Pacific Gas and Electric Co. |  |  |
| 3.45%, 07/01/25 | &nbsp;&nbsp; 3705 | 3664780 |
| 3.50%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3507 | 3472682 |
| 4.95%, 06/08/25<sup>(a)</sup> | &nbsp;&nbsp; 2719 | 2712669 |
| PECO Energy Co., 3.15%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1885 | 1862809 |
| Pinnacle West Capital Corp., 1.30%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2528 | 2468734 |
| Public Service Electric & Gas Co., 3.00%, <br> 05/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1408 | 1394999 |
| Public Service Enterprise Group Inc., 0.80%, <br> 08/15/25<br>| &nbsp;&nbsp; 3025 | 2928032 |
| Puget Energy Inc., 3.65%, 05/15/25 | &nbsp;&nbsp; 1996 | 1977646 |
| Sempra, 3.30%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3698 | 3671961 |
| Southern California Edison Co. |  |  |
| Series C, 4.20%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1700 | 1692990 |
| Series E, 3.70%, 08/01/25 | &nbsp;&nbsp; 4567 | 4530121 |
| Southern Co. (The), 5.15%, 10/06/25<sup>(a)</sup> | &nbsp;&nbsp; 2382 | 2393869 |
| Southern Power Co., 4.15%, 12/01/25 | &nbsp;&nbsp; 2628 | 2606036 |
| Tucson Electric Power Co., 3.05%, 03/15/25 | &nbsp;&nbsp; 948 | 940901 |
| Virginia Electric & Power Co., Series A, 3.10%, <br> 05/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 1646 | 1631846 |
| WEC Energy Group Inc., 5.00%, 09/27/25<sup>(a)</sup> | &nbsp;&nbsp; 2474 | 2476794 |
| Wisconsin Public Service Corp., 5.35%, 11/10/25 | &nbsp;&nbsp; 1261 | 1270773 |
| Xcel Energy Inc., 3.30%, 06/01/25 | &nbsp;&nbsp; 3048 | 3014539 |
|  |  | 164385785 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Emerson Electric Co., 3.15%, 06/01/25 | &nbsp;&nbsp; 2151 | 2131042 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| Amphenol Corp., 2.05%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2385 | 2361800 |
| Arrow Electronics Inc., 4.00%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1783 | 1773928 |
| Flex Ltd., 4.75%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2983 | 2970484 |
| Honeywell International Inc., 1.35%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 6614 | 6490792 |
| Legrand France SA, 8.50%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2335 | 2353552 |
|  |  | 15950556 |
| **Entertainment — 0.3%** | **Entertainment — 0.3%** | **Entertainment — 0.3%** |
| Warnermedia Holdings Inc. |  |  |
| 3.64%, 03/15/25 | &nbsp;&nbsp; 7520 | 7474066 |
| 3.79%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2590 | 2577400 |
|  |  | 10051466 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| Republic Services Inc. |  |  |
| 0.88%, 11/15/25 | &nbsp;&nbsp; $1769 | $1700112 |
| 3.20%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3247 | 3225634 |
| Waste Management Inc. |  |  |
| 0.75%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3015 | 2897410 |
| 3.13%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2506 | 2494549 |
|  |  | 10317705 |
| **Food — 1.5%** | **Food — 1.5%** | **Food — 1.5%** |
| Campbell Soup Co. |  |  |
| 3.30%, 03/19/25<sup>(a)</sup> | &nbsp;&nbsp; 2129 | 2114103 |
| 3.95%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 4388 | 4368713 |
| Conagra Brands Inc., 4.60%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 5268 | 5253299 |
| General Mills Inc. |  |  |
| 4.00%, 04/17/25 | &nbsp;&nbsp; 4760 | 4737980 |
| 5.24%, 11/18/25<sup>(a)</sup> | &nbsp;&nbsp; 1119 | 1117382 |
| Hershey Co. (The) |  |  |
| 0.90%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2830 | 2768179 |
| 3.20%, 08/21/25 | &nbsp;&nbsp; 1330 | 1315830 |
| J.M. Smucker Co. (The), 3.50%, 03/15/25 | &nbsp;&nbsp; 4405 | 4377544 |
| Mondelez International Inc., 1.50%, 05/04/25 | &nbsp;&nbsp; 4397 | 4321439 |
| Sysco Corp., 3.75%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3764 | 3734001 |
| Walmart Inc., 3.90%, 09/09/25 | &nbsp;&nbsp; 8296 | 8259988 |
|  |  | 42368458 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| Suzano International Finance BV, 4.00%, 01/14/25 | &nbsp;&nbsp; 1355 | 1348424 |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| National Fuel Gas Co., 5.20%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1945 | 1940188 |
| NiSource Inc., 0.95%, 08/15/25 | &nbsp;&nbsp; 6275 | 6081909 |
| Southern California Gas Co., 3.20%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1710 | 1693321 |
|  |  | 9715418 |
| **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** |
| Stanley Black & Decker Inc., 2.30%, 02/24/25 | &nbsp;&nbsp; 3170 | 3140722 |
| **Health Care - Products — 1.1%** | **Health Care - Products — 1.1%** | **Health Care - Products — 1.1%** |
| Abbott Laboratories |  |  |
| 2.95%, 03/15/25 | &nbsp;&nbsp; 4732 | 4699184 |
| 3.88%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2368 | 2357130 |
| Boston Scientific Corp., 1.90%, 06/01/25 | &nbsp;&nbsp; 3105 | 3051856 |
| Danaher Corp., 3.35%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2566 | 2542190 |
| GE HealthCare Technologies Inc., 5.60%, <br> 11/15/25<br>| &nbsp;&nbsp; 7489 | 7551779 |
| Stryker Corp. |  |  |
| 1.15%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3038 | 2970673 |
| 3.38%, 11/01/25 | &nbsp;&nbsp; 4081 | 4036177 |
| Zimmer Biomet Holdings Inc., 3.55%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4555 | 4524234 |
|  |  | 31733223 |
| **Health Care - Services — 2.4%** | **Health Care - Services — 2.4%** | **Health Care - Services — 2.4%** |
| Cigna Group (The) |  |  |
| 3.25%, 04/15/25 | &nbsp;&nbsp; 4893 | 4857325 |
| 4.13%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5752 | 5717060 |
| CommonSpirit Health, 1.55%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1313 | 1275371 |
| Elevance Health Inc. |  |  |
| 2.38%, 01/15/25 | &nbsp;&nbsp; 6346 | 6304006 |
| 5.35%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2444 | 2458371 |
| HCA Inc. |  |  |
| 5.25%, 04/15/25 | &nbsp;&nbsp; 7030 | 7029642 |
| 5.38%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 12275 | 12274104 |
| Humana Inc., 4.50%, 04/01/25 | &nbsp;&nbsp; 2897 | 2888828 |
| Laboratory Corp. of America Holdings, 3.60%, <br> 02/01/25<br>| &nbsp;&nbsp; 5076 | 5049980 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| PeaceHealth Obligated Group, Series 2020, <br> 1.38%, 11/15/25<br>| &nbsp;&nbsp; $1700 | $1632017 |
| Quest Diagnostics Inc., 3.50%, 03/30/25<sup>(a)</sup> | &nbsp;&nbsp; 2570 | 2553138 |
| Sutter Health, Series 20A, 1.32%, 08/15/25 | &nbsp;&nbsp; 1270 | 1230444 |
| UnitedHealth Group Inc. |  |  |
| 3.70%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1723 | 1708080 |
| 3.75%, 07/15/25 | &nbsp;&nbsp; 8898 | 8846381 |
| 5.15%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3682 | 3704897 |
| UPMC, Series D-1, 3.60%, 04/03/25<sup>(a)</sup> | &nbsp;&nbsp; 2175 | 2159876 |
|  |  | 69689520 |
| **Holding Companies - Diversified — 1.1%** | **Holding Companies - Diversified — 1.1%** | **Holding Companies - Diversified — 1.1%** |
| Ares Capital Corp. |  |  |
| 3.25%, 07/15/25 | &nbsp;&nbsp; 6409 | 6321876 |
| 4.25%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3230 | 3216304 |
| Blackstone Private Credit Fund |  |  |
| 2.70%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2800 | 2783606 |
| 4.70%, 03/24/25 | &nbsp;&nbsp; 3148 | 3138461 |
| 7.05%, 09/29/25 | &nbsp;&nbsp; 3267 | 3318632 |
| Blue Owl Capital Corp. |  |  |
| 3.75%, 07/22/25 | &nbsp;&nbsp; 2712 | 2681731 |
| 4.00%, 03/30/25 | &nbsp;&nbsp; 1734 | 1723166 |
| Blue Owl Credit Income Corp., 5.50%, 03/21/25 | &nbsp;&nbsp; 2665 | 2659421 |
| FS KKR Capital Corp., 4.13%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2137 | 2127534 |
| Goldman Sachs BDC Inc., 3.75%, 02/10/25<sup>(a)</sup> | &nbsp;&nbsp; 1740 | 1729014 |
| Oaktree Specialty Lending Corp., 3.50%, 02/25/25 | &nbsp;&nbsp; 1635 | 1624340 |
|  |  | 31324085 |
| **Home Builders — 0.3%** | **Home Builders — 0.3%** | **Home Builders — 0.3%** |
| DR Horton Inc., 2.60%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3018 | 2960259 |
| Lennar Corp., 4.75%, 05/30/25 | &nbsp;&nbsp; 2952 | 2945853 |
| Toll Brothers Finance Corp., 4.88%, 11/15/25 | &nbsp;&nbsp; 2015 | 2013412 |
|  |  | 7919524 |
| **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** |
| Harman International Industries Inc., 4.15%, <br> 05/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 2416 | 2403229 |
| Whirlpool Corp., 3.70%, 05/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2282 | 2265398 |
|  |  | 4668627 |
| **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** |
| Kimberly-Clark Corp., 3.05%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1600 | 1581079 |
| **Insurance — 1.2%** | **Insurance — 1.2%** | **Insurance — 1.2%** |
| Allstate Corp. (The), 0.75%, 12/15/25 | &nbsp;&nbsp; 3292 | 3149080 |
| Aon Global Ltd., 3.88%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 4067 | 4029222 |
| Chubb INA Holdings LLC, 3.15%, 03/15/25 | &nbsp;&nbsp; 4481 | 4451917 |
| CNO Financial Group Inc., 5.25%, 05/30/25<sup>(a)</sup> | &nbsp;&nbsp; 2636 | 2632477 |
| Corebridge Financial Inc., 3.50%, 04/04/25 | &nbsp;&nbsp; 4900 | 4868712 |
| Kemper Corp., 4.35%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1794 | 1786521 |
| Lincoln National Corp., 3.35%, 03/09/25<sup>(a)</sup> | &nbsp;&nbsp; 1080 | 1072287 |
| Marsh & McLennan Companies Inc., 3.50%, <br> 03/10/25<sup>(a)</sup><br>| &nbsp;&nbsp; 3112 | 3096754 |
| MetLife Inc. |  |  |
| 3.00%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2518 | 2500859 |
| 3.60%, 11/13/25 | &nbsp;&nbsp; 3043 | 3012951 |
| Principal Financial Group Inc., 3.40%, 05/15/25 | &nbsp;&nbsp; 2019 | 2002400 |
| RenaissanceRe Finance Inc., 3.70%, 04/01/25 | &nbsp;&nbsp; 1535 | 1526440 |
|  |  | 34129620 |
| **Internet — 1.7%** | **Internet — 1.7%** | **Internet — 1.7%** |
| Alphabet Inc., 0.45%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5211 | 5050494 |
| Amazon.com Inc. |  |  |
| 0.80%, 06/03/25 | &nbsp;&nbsp; 5914 | 5784285 |
| 3.00%, 04/13/25 | &nbsp;&nbsp; 6755 | 6705263 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| 4.60%, 12/01/25 | &nbsp;&nbsp; $6130 | $6142312 |
| 5.20%, 12/03/25 | &nbsp;&nbsp; 3515 | 3538790 |
| Baidu Inc. |  |  |
| 3.08%, 04/07/25<sup>(a)</sup> | &nbsp;&nbsp; 2745 | 2719331 |
| 4.13%, 06/30/25<sup>(a)</sup> | &nbsp;&nbsp; 1385 | 1374590 |
| Booking Holdings Inc., 3.65%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2944 | 2931091 |
| eBay Inc. |  |  |
| 1.90%, 03/11/25 | &nbsp;&nbsp; 4573 | 4522267 |
| 5.90%, 11/22/25<sup>(a)</sup> | &nbsp;&nbsp; 2320 | 2346067 |
| Netflix Inc., 5.88%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 4350 | 4361085 |
| Tencent Music Entertainment Group, 1.38%, <br> 09/03/25<br>| &nbsp;&nbsp; 1435 | 1389669 |
| VeriSign Inc., 5.25%, 04/01/25 | &nbsp;&nbsp; 2610 | 2606721 |
|  |  | 49471965 |
| **Iron & Steel — 0.3%** | **Iron & Steel — 0.3%** | **Iron & Steel — 0.3%** |
| Nucor Corp. |  |  |
| 2.00%, 06/01/25 | &nbsp;&nbsp; 2729 | 2682101 |
| 3.95%, 05/23/25<sup>(a)</sup> | &nbsp;&nbsp; 2783 | 2766764 |
| Reliance Inc., 1.30%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2142 | 2080018 |
| Steel Dynamics Inc., 2.40%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2254 | 2217973 |
|  |  | 9746856 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| Harley-Davidson Inc., 3.50%, 07/28/25<sup>(a)</sup> | &nbsp;&nbsp; 2624 | 2589555 |
| **Lodging — 0.6%** | **Lodging — 0.6%** | **Lodging — 0.6%** |
| Hyatt Hotels Corp., 5.38%, 04/23/25 | &nbsp;&nbsp; 2755 | 2755262 |
| Las Vegas Sands Corp., 2.90%, 06/25/25 | &nbsp;&nbsp; 990 | 973196 |
| Marriott International Inc./MD |  |  |
| 3.75%, 03/15/25 | &nbsp;&nbsp; 2051 | 2039144 |
| 3.75%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1757 | 1743344 |
| Series EE, 5.75%, 05/01/25 | &nbsp;&nbsp; 3316 | 3325218 |
| Sands China Ltd., 5.13%, 08/08/25 | &nbsp;&nbsp; 6775 | 6759875 |
|  |  | 17596039 |
| **Machinery — 2.5%** | **Machinery — 2.5%** | **Machinery — 2.5%** |
| Caterpillar Financial Services Corp. |  |  |
| 0.80%, 11/13/25 | &nbsp;&nbsp; 5011 | 4827028 |
| 1.45%, 05/15/25 | &nbsp;&nbsp; 2206 | 2167298 |
| 3.40%, 05/13/25<sup>(a)</sup> | &nbsp;&nbsp; 5704 | 5667221 |
| 3.65%, 08/12/25<sup>(a)</sup> | &nbsp;&nbsp; 3819 | 3792590 |
| 4.90%, 01/17/25<sup>(a)</sup> | &nbsp;&nbsp; 2135 | 2134912 |
| 5.15%, 08/11/25<sup>(a)</sup> | &nbsp;&nbsp; 2818 | 2830453 |
| 5.40%, 03/10/25 | &nbsp;&nbsp; 1774 | 1777133 |
| CNH Industrial Capital LLC |  |  |
| 3.95%, 05/23/25<sup>(a)</sup> | &nbsp;&nbsp; 2935 | 2917650 |
| 5.45%, 10/14/25<sup>(a)</sup> | &nbsp;&nbsp; 2040 | 2054061 |
| Deere & Co., 2.75%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2452 | 2429768 |
| Dover Corp., 3.15%, 11/15/25 | &nbsp;&nbsp; 2197 | 2158885 |
| John Deere Capital Corp. |  |  |
| 1.25%, 01/10/25 | &nbsp;&nbsp; 2805 | 2784836 |
| 2.05%, 01/09/25<sup>(a)</sup> | &nbsp;&nbsp; 1832 | 1821353 |
| 2.13%, 03/07/25 | &nbsp;&nbsp; 1925 | 1905657 |
| 3.40%, 06/06/25 | &nbsp;&nbsp; 4245 | 4210710 |
| 3.40%, 09/11/25 | &nbsp;&nbsp; 1375 | 1361976 |
| 3.45%, 03/13/25 | &nbsp;&nbsp; 4168 | 4146772 |
| 4.05%, 09/08/25 | &nbsp;&nbsp; 3482 | 3468490 |
| 4.95%, 06/06/25 | &nbsp;&nbsp; 2607 | 2610457 |
| 5.15%, 03/03/25<sup>(a)</sup> | &nbsp;&nbsp; 2310 | 2312581 |
| 5.30%, 09/08/25 | &nbsp;&nbsp; 1563 | 1573368 |
| Otis Worldwide Corp., 2.06%, 04/05/25<sup>(a)</sup> | &nbsp;&nbsp; 6963 | 6874256 |
| Rockwell Automation Inc., 2.88%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2179 | 2163770 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| Westinghouse Air Brake Technologies Corp., <br> 3.20%, 06/15/25<br>| &nbsp;&nbsp; $2877 | $2842368 |
|  |  | 70833593 |
| **Manufacturing — 0.4%** | **Manufacturing — 0.4%** | **Manufacturing — 0.4%** |
| 3M Co. |  |  |
| 2.00%, 02/14/25<sup>(a)</sup> | &nbsp;&nbsp; 3259 | 3230241 |
| 2.65%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3019 | 2987743 |
| 3.00%, 08/07/25<sup>(a)</sup> | &nbsp;&nbsp; 2814 | 2778228 |
| Textron Inc., 3.88%, 03/01/25 | &nbsp;&nbsp; 1749 | 1741166 |
|  |  | 10737378 |
| **Media — 1.9%** | **Media — 1.9%** | **Media — 1.9%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital, 4.91%, <br> 07/23/25<br>| &nbsp;&nbsp; 10857 | 10844313 |
| Comcast Corp. |  |  |
| 3.38%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1955 | 1945582 |
| 3.38%, 08/15/25 | &nbsp;&nbsp; 6650 | 6583406 |
| 3.95%, 10/15/25 | &nbsp;&nbsp; 13686 | 13620727 |
| Discovery Communications LLC |  |  |
| 3.45%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1445 | 1434283 |
| 3.95%, 06/15/25 | &nbsp;&nbsp; 2551 | 2527782 |
| Fox Corp., 3.05%, 04/07/25 | &nbsp;&nbsp; 3093 | 3066506 |
| TWDC Enterprises 18 Corp., 3.15%, 09/17/25<sup>(a)</sup> | &nbsp;&nbsp; 4114 | 4067429 |
| Walt Disney Co. (The) |  |  |
| 3.35%, 03/24/25<sup>(a)</sup> | &nbsp;&nbsp; 8186 | 8137324 |
| 3.70%, 10/15/25 | &nbsp;&nbsp; 3146 | 3124133 |
|  |  | 55351485 |
| **Metal Fabricate & Hardware — 0.2%** | **Metal Fabricate & Hardware — 0.2%** | **Metal Fabricate & Hardware — 0.2%** |
| Precision Castparts Corp., 3.25%, 06/15/25 | &nbsp;&nbsp; 4639 | 4591501 |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| Southern Copper Corp., 3.88%, 04/23/25 | &nbsp;&nbsp; 1833 | 1817264 |
| **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** |
| BP Capital Markets America Inc., 3.80%, <br> 09/21/25<sup>(a)</sup><br>| &nbsp;&nbsp; 4824 | 4794200 |
| Canadian Natural Resources Ltd. |  |  |
| 2.05%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3258 | 3192130 |
| 3.90%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3122 | 3111338 |
| Chevron Corp. |  |  |
| 1.55%, 05/11/25 | &nbsp;&nbsp; 10862 | 10681235 |
| 3.33%, 11/17/25<sup>(a)</sup> | &nbsp;&nbsp; 2859 | 2825180 |
| Chevron USA Inc., 0.69%, 08/12/25<sup>(a)</sup> | &nbsp;&nbsp; 3987 | 3866674 |
| ConocoPhillips Co., 2.40%, 03/07/25 | &nbsp;&nbsp; 1386 | 1374022 |
| Devon Energy Corp., 5.85%, 12/15/25 | &nbsp;&nbsp; 2621 | 2639008 |
| EOG Resources Inc., 3.15%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2638 | 2618501 |
| Exxon Mobil Corp. |  |  |
| 2.71%, 03/06/25 | &nbsp;&nbsp; 7505 | 7452245 |
| 2.99%, 03/19/25<sup>(a)</sup> | &nbsp;&nbsp; 13282 | 13185140 |
| Marathon Petroleum Corp., 4.70%, 05/01/25 | &nbsp;&nbsp; 6503 | 6492697 |
| Occidental Petroleum Corp. |  |  |
| 5.50%, 12/01/25 | &nbsp;&nbsp; 2890 | 2897080 |
| 5.88%, 09/01/25 | &nbsp;&nbsp; 2505 | 2515626 |
| Ovintiv Inc., 5.65%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3125 | 3134499 |
| Phillips 66, 3.85%, 04/09/25<sup>(a)</sup> | &nbsp;&nbsp; 3345 | 3327761 |
| Phillips 66 Co., 3.61%, 02/15/25 | &nbsp;&nbsp; 2142 | 2131225 |
| Shell International Finance BV, 3.25%, 05/11/25 | &nbsp;&nbsp; 13265 | 13157795 |
| TotalEnergies Capital International SA, 2.43%, <br> 01/10/25<sup>(a)</sup><br>| &nbsp;&nbsp; 4820 | 4795624 |
|  |  | 94191980 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** |
| Halliburton Co., 3.80%, 11/15/25 | &nbsp;&nbsp; $2144 | $2120739 |
| Schlumberger Finance Canada Ltd., 1.40%, <br> 09/17/25<sup>(a)</sup><br>| &nbsp;&nbsp; 2007 | 1952879 |
|  |  | 4073618 |
| **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |
| Amcor Flexibles North America Inc., 4.00%, <br> 05/17/25<sup>(a)</sup><br>| &nbsp;&nbsp; 2511 | 2496093 |
| Sonoco Products Co., 1.80%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2310 | 2288953 |
| WRKCo Inc., 3.75%, 03/15/25 | &nbsp;&nbsp; 3294 | 3276190 |
|  |  | 8061236 |
| **Pharmaceuticals — 5.0%** | **Pharmaceuticals — 5.0%** | **Pharmaceuticals — 5.0%** |
| AbbVie Inc. |  |  |
| 3.60%, 05/14/25 | &nbsp;&nbsp; 17759 | 17646031 |
| 3.80%, 03/15/25 | &nbsp;&nbsp; 14473 | 14415423 |
| AstraZeneca PLC, 3.38%, 11/16/25 | &nbsp;&nbsp; 9722 | 9626192 |
| Bristol-Myers Squibb Co., 0.75%, 11/13/25 | &nbsp;&nbsp; 4986 | 4797679 |
| Cardinal Health Inc., 3.75%, 09/15/25 | &nbsp;&nbsp; 2560 | 2538065 |
| Cencora Inc., 3.25%, 03/01/25 | &nbsp;&nbsp; 2840 | 2822209 |
| CVS Health Corp. |  |  |
| 3.88%, 07/20/25 | &nbsp;&nbsp; 13531 | 13411983 |
| 4.10%, 03/25/25 | &nbsp;&nbsp; 4952 | 4929575 |
| Eli Lilly & Co., 2.75%, 06/01/25 | &nbsp;&nbsp; 2460 | 2431947 |
| GlaxoSmithKline Capital Inc., 3.63%, 05/15/25 | &nbsp;&nbsp; 5129 | 5100110 |
| Johnson & Johnson |  |  |
| 0.55%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4940 | 4781297 |
| 2.63%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3034 | 3020027 |
| McKesson Corp., 0.90%, 12/03/25 | &nbsp;&nbsp; 2514 | 2416790 |
| Mead Johnson Nutrition Co., 4.13%, 11/15/25 | &nbsp;&nbsp; 4185 | 4164869 |
| Merck & Co. Inc., 2.75%, 02/10/25<sup>(a)</sup> | &nbsp;&nbsp; 11808 | 11737492 |
| Novartis Capital Corp. |  |  |
| 1.75%, 02/14/25<sup>(a)</sup> | &nbsp;&nbsp; 4923 | 4880064 |
| 3.00%, 11/20/25<sup>(a)</sup> | &nbsp;&nbsp; 8270 | 8155580 |
| Pfizer Inc., 0.80%, 05/28/25<sup>(a)</sup> | &nbsp;&nbsp; 4661 | 4558950 |
| Pfizer Investment Enterprises Pte Ltd., 4.65%, <br> 05/19/25<br>| &nbsp;&nbsp; 14374 | 14361123 |
| Viatris Inc., 1.65%, 06/22/25<sup>(a)</sup> | &nbsp;&nbsp; 1185 | 1157959 |
| Zoetis Inc. |  |  |
| 4.50%, 11/13/25 | &nbsp;&nbsp; 4059 | 4048493 |
| 5.40%, 11/14/25<sup>(a)</sup> | &nbsp;&nbsp; 2932 | 2950399 |
|  |  | 143952257 |
| **Pipelines — 2.8%** | **Pipelines — 2.8%** | **Pipelines — 2.8%** |
| Columbia Pipeline Group Inc., 4.50%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 5202 | 5179341 |
| DCP Midstream Operating LP, 5.38%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2438 | 2439090 |
| Enbridge Energy Partners LP, 5.88%, 10/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2793 | 2813926 |
| Enbridge Inc. |  |  |
| 2.50%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2430 | 2416875 |
| 2.50%, 02/14/25<sup>(a)</sup> | &nbsp;&nbsp; 2306 | 2290858 |
| Energy Transfer LP |  |  |
| 2.90%, 05/15/25 | &nbsp;&nbsp; 4879 | 4822721 |
| 4.05%, 03/15/25 | &nbsp;&nbsp; 4867 | 4847854 |
| 5.75%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2457 | 2457061 |
| 5.95%, 12/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1946 | 1962728 |
| EnLink Midstream Partners LP, 4.15%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 890 | 883587 |
| Enterprise Products Operating LLC, 3.75%, <br> 02/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 5947 | 5923466 |
| Kinder Morgan Inc., 4.30%, 06/01/25 | &nbsp;&nbsp; 7785 | 7754958 |
| MPLX LP |  |  |
| 4.00%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2501 | 2491773 |
| 4.88%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 5879 | 5873979 |
| ONEOK Inc., 2.20%, 09/15/25 | &nbsp;&nbsp; 2135 | 2085633 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| ONEOK Partners LP, 4.90%, 03/15/25 | &nbsp;&nbsp; $2582 | $2579740 |
| Plains All American Pipeline LP/PAA Finance <br> Corp., 4.65%, 10/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 5027 | 5017200 |
| Sabine Pass Liquefaction LLC, 5.63%, 03/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2946 | 2947716 |
| Spectra Energy Partners LP, 3.50%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2519 | 2503749 |
| TC PipeLines LP, 4.38%, 03/13/25<sup>(a)</sup> | &nbsp;&nbsp; 2026 | 2017009 |
| Western Midstream Operating LP |  |  |
| 3.10%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3443 | 3419871 |
| 3.95%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1413 | 1399249 |
| Williams Companies Inc. (The) |  |  |
| 3.90%, 01/15/25 | &nbsp;&nbsp; 3461 | 3451628 |
| 4.00%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3864 | 3828354 |
|  |  | 81408366 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| Brookfield Corp., 4.00%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2880 | 2872689 |
| **Real Estate Investment Trusts — 3.3%** | **Real Estate Investment Trusts — 3.3%** | **Real Estate Investment Trusts — 3.3%** |
| Alexandria Real Estate Equities Inc., 3.45%, <br> 04/30/25<sup>(a)</sup><br>| &nbsp;&nbsp; 3250 | 3226740 |
| American Tower Corp. |  |  |
| 1.30%, 09/15/25 | &nbsp;&nbsp; 2501 | 2425868 |
| 2.40%, 03/15/25 | &nbsp;&nbsp; 3644 | 3608533 |
| 2.95%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3201 | 3184760 |
| 4.00%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3614 | 3595142 |
| AvalonBay Communities Inc. |  |  |
| 3.45%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2473 | 2453796 |
| 3.50%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1764 | 1744270 |
| Boston Properties LP, 3.20%, 01/15/25 | &nbsp;&nbsp; 4578 | 4558091 |
| Brixmor Operating Partnership LP, 3.85%, <br> 02/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 3298 | 3284797 |
| Crown Castle Inc., 1.35%, 07/15/25 | &nbsp;&nbsp; 2562 | 2492105 |
| CubeSmart LP, 4.00%, 11/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1664 | 1645160 |
| EPR Properties, 4.50%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 720 | 716366 |
| Equinix Inc. |  |  |
| 1.00%, 09/15/25 | &nbsp;&nbsp; 3711 | 3585143 |
| 1.25%, 07/15/25 | &nbsp;&nbsp; 2668 | 2598264 |
| ERP Operating LP, 3.38%, 06/01/25 | &nbsp;&nbsp; 2232 | 2214608 |
| Essex Portfolio LP, 3.50%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2391 | 2375532 |
| GLP Capital LP/GLP Financing II Inc., 5.25%, <br> 06/01/25<br>| &nbsp;&nbsp; 4741 | 4734233 |
| Healthpeak OP LLC |  |  |
| 3.40%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 1765 | 1756451 |
| 4.00%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2007 | 1995597 |
| Host Hotels & Resorts LP, Series E, 4.00%, <br> 06/15/25<sup>(a)</sup><br>| &nbsp;&nbsp; 2400 | 2380349 |
| Kilroy Realty LP, 4.38%, 10/01/25 | &nbsp;&nbsp; 2167 | 2153214 |
| Kimco Realty OP LLC, 3.30%, 02/01/25 | &nbsp;&nbsp; 2473 | 2460794 |
| Kite Realty Group Trust, 4.00%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1355 | 1347536 |
| Mid-America Apartments LP, 4.00%, 11/15/25 | &nbsp;&nbsp; 2213 | 2197379 |
| NNN REIT Inc., 4.00%, 11/15/25 | &nbsp;&nbsp; 1778 | 1762651 |
| Omega Healthcare Investors Inc., 4.50%, 01/15/25 | &nbsp;&nbsp; 2121 | 2116832 |
| Realty Income Corp. |  |  |
| 3.88%, 04/15/25 | &nbsp;&nbsp; 2774 | 2762131 |
| 4.63%, 11/01/25 | &nbsp;&nbsp; 2800 | 2797304 |
| Simon Property Group LP, 3.50%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 5741 | 5685503 |
| Ventas Realty LP |  |  |
| 2.65%, 01/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2345 | 2332678 |
| 3.50%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2865 | 2851579 |
| VICI Properties LP, 4.38%, 05/15/25 | &nbsp;&nbsp; 2995 | 2983347 |
| Welltower OP LLC, 4.00%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 6292 | 6259114 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| WP Carey Inc., 4.00%, 02/01/25 | &nbsp;&nbsp; $2308 | $2297698 |
|  |  | 94583565 |
| **Retail — 2.7%** | **Retail — 2.7%** | **Retail — 2.7%** |
| AutoNation Inc., 4.50%, 10/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2547 | 2535189 |
| AutoZone Inc. |  |  |
| 3.25%, 04/15/25 | &nbsp;&nbsp; 2542 | 2521443 |
| 3.63%, 04/15/25 | &nbsp;&nbsp; 2489 | 2473422 |
| Dollar General Corp., 4.15%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2777 | 2754929 |
| Dollar Tree Inc., 4.00%, 05/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5376 | 5340327 |
| Genuine Parts Co., 1.75%, 02/01/25 | &nbsp;&nbsp; 3473 | 3442177 |
| Home Depot Inc. (The) |  |  |
| 2.70%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2845 | 2819073 |
| 3.35%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 5859 | 5800915 |
| 4.00%, 09/15/25 | &nbsp;&nbsp; 2443 | 2432555 |
| 5.13%, 04/30/25 | &nbsp;&nbsp; 1655 | 1659036 |
| Lowe's Companies Inc. |  |  |
| 3.38%, 09/15/25 | &nbsp;&nbsp; 3913 | 3867080 |
| 4.00%, 04/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3876 | 3859889 |
| 4.40%, 09/08/25<sup>(a)</sup> | &nbsp;&nbsp; 4946 | 4934933 |
| McDonald's Corp. |  |  |
| 1.45%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3009 | 2930308 |
| 3.30%, 07/01/25<sup>(a)</sup> | &nbsp;&nbsp; 4097 | 4059625 |
| 3.38%, 05/26/25<sup>(a)</sup> | &nbsp;&nbsp; 3067 | 3042900 |
| Ross Stores Inc., 4.60%, 04/15/25 | &nbsp;&nbsp; 3877 | 3868866 |
| Starbucks Corp., 3.80%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 6663 | 6618946 |
| Target Corp., 2.25%, 04/15/25 | &nbsp;&nbsp; 7770 | 7682408 |
| Walmart Inc., 3.55%, 06/26/25<sup>(a)</sup> | &nbsp;&nbsp; 3963 | 3938523 |
|  |  | 76582544 |
| **Semiconductors — 1.9%** | **Semiconductors — 1.9%** | **Semiconductors — 1.9%** |
| Analog Devices Inc., 2.95%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2748 | 2724975 |
| Applied Materials Inc., 3.90%, 10/01/25 | &nbsp;&nbsp; 3674 | 3656092 |
| Broadcom Corp./Broadcom Cayman Finance Ltd., <br> 3.13%, 01/15/25<br>| &nbsp;&nbsp; 2493 | 2481017 |
| Broadcom Inc., 3.15%, 11/15/25 | &nbsp;&nbsp; 4961 | 4881083 |
| Intel Corp. |  |  |
| 3.40%, 03/25/25 | &nbsp;&nbsp; 7906 | 7858014 |
| 3.70%, 07/29/25<sup>(a)</sup> | &nbsp;&nbsp; 10417 | 10324862 |
| Lam Research Corp., 3.80%, 03/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2719 | 2707639 |
| Microchip Technology Inc., 4.25%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 6349 | 6315163 |
| NXP BV/NXP Funding LLC/NXP USA Inc., 2.70%, <br> 05/01/25<sup>(a)</sup><br>| &nbsp;&nbsp; 3180 | 3145800 |
| Qualcomm Inc., 3.45%, 05/20/25<sup>(a)</sup> | &nbsp;&nbsp; 6789 | 6743681 |
| Texas Instruments Inc., 1.38%, 03/12/25 | &nbsp;&nbsp; 4533 | 4476686 |
|  |  | 55315012 |
| **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** |
| Huntington Ingalls Industries Inc., 3.84%, 05/01/25 | &nbsp;&nbsp; 2552 | 2536895 |
| **Software — 3.0%** | **Software — 3.0%** | **Software — 3.0%** |
| Adobe Inc. |  |  |
| 1.90%, 02/01/25 | &nbsp;&nbsp; 3193 | 3168509 |
| 3.25%, 02/01/25<sup>(a)</sup> | &nbsp;&nbsp; 5028 | 5005778 |
| Autodesk Inc., 4.38%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1729 | 1723537 |
| Fiserv Inc., 3.85%, 06/01/25 | &nbsp;&nbsp; 4665 | 4634162 |
| Intuit Inc., 0.95%, 07/15/25 | &nbsp;&nbsp; 3326 | 3236142 |
| Microsoft Corp. |  |  |
| 2.70%, 02/12/25<sup>(a)</sup> | &nbsp;&nbsp; 7359 | 7317443 |
| 3.13%, 11/03/25 | &nbsp;&nbsp; 14252 | 14069164 |
| Oracle Corp. |  |  |
| 2.50%, 04/01/25 | &nbsp;&nbsp; 15682 | 15524924 |
| 2.95%, 05/15/25 | &nbsp;&nbsp; 13092 | 12947718 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| 5.80%, 11/10/25 | &nbsp;&nbsp; $4492 | $4539427 |
| Roper Technologies Inc. |  |  |
| 1.00%, 09/15/25<sup>(a)</sup> | &nbsp;&nbsp; 3722 | 3608023 |
| 3.85%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1810 | 1791986 |
| Take-Two Interactive Software Inc., 3.55%, <br> 04/14/25<br>| &nbsp;&nbsp; 3712 | 3686305 |
| VMware LLC, 4.50%, 05/15/25 | &nbsp;&nbsp; 4417 | 4403530 |
|  |  | 85656648 |
| **Telecommunications — 1.6%** | **Telecommunications — 1.6%** | **Telecommunications — 1.6%** |
| Cisco Systems Inc., 3.50%, 06/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2548 | 2532568 |
| Juniper Networks Inc., 1.20%, 12/10/25 | &nbsp;&nbsp; 1956 | 1876643 |
| KT Corp., 4.00%, 08/08/25<sup>(a)(b)</sup> | &nbsp;&nbsp; 2275 | 2259755 |
| Rogers Communications Inc. |  |  |
| 2.95%, 03/15/25 | &nbsp;&nbsp; 5035 | 4994513 |
| 3.63%, 12/15/25 | &nbsp;&nbsp; 3642 | 3591127 |
| Sprint LLC, 7.63%, 02/15/25 | &nbsp;&nbsp; 6440 | 6448647 |
| T-Mobile USA Inc., 3.50%, 04/15/25 | &nbsp;&nbsp; 14614 | 14514200 |
| Verizon Communications Inc. |  |  |
| 0.85%, 11/20/25<sup>(a)</sup> | &nbsp;&nbsp; 6905 | 6642715 |
| 3.38%, 02/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1155 | 1149200 |
| Vodafone Group PLC, 4.13%, 05/30/25<sup>(a)</sup> | &nbsp;&nbsp; 3255 | 3241042 |
|  |  | 47250410 |
| **Transportation — 1.1%** | **Transportation — 1.1%** | **Transportation — 1.1%** |
| Burlington Northern Santa Fe LLC |  |  |
| 3.00%, 04/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2807 | 2786129 |
| 3.65%, 09/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2299 | 2282072 |
| 7.00%, 12/15/25<sup>(a)</sup> | &nbsp;&nbsp; 1176 | 1205988 |
| Canadian Pacific Railway Co., 2.90%, 02/01/25 | &nbsp;&nbsp; 4006 | 3982888 |
| CSX Corp., 3.35%, 11/01/25<sup>(a)</sup> | &nbsp;&nbsp; 3455 | 3415152 |
| Norfolk Southern Corp., 3.65%, 08/01/25 | &nbsp;&nbsp; 1863 | 1845848 |
| Ryder System Inc. |  |  |
| 3.35%, 09/01/25 | &nbsp;&nbsp; 2093 | 2065953 |
| 4.63%, 06/01/25<sup>(a)</sup> | &nbsp;&nbsp; 2249 | 2243082 |
| Union Pacific Corp. |  |  |
| 3.25%, 01/15/25 | &nbsp;&nbsp; 1894 | 1886955 |
| 3.25%, 08/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2446 | 2418910 |
| 3.75%, 07/15/25<sup>(a)</sup> | &nbsp;&nbsp; 2553 | 2542191 |
| United Parcel Service Inc., 3.90%, 04/01/25 | &nbsp;&nbsp; 5389 | 5368389 |
|  |  | 32043557 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| GATX Corp., 3.25%, 03/30/25<sup>(a)</sup> | &nbsp;&nbsp; 1425 | 1413414 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| American Water Capital Corp., 3.40%, 03/01/25 | &nbsp;&nbsp; 2572 | 2557606 |
| **Total Long-Term Investments — 98.6%** <br>**(Cost: $2,853,458,000)** | **Total Long-Term Investments — 98.6%** <br>**(Cost: $2,853,458,000)** | 2841024775 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 9.8%** | **Money Market Funds — 9.8%** | **Money Market Funds — 9.8%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 260299265 | 260481474 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2025 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 21250000 | $21250000 |
| **Total Short-Term Securities — 9.8%** <br>**(Cost: $281,614,714)** | **Total Short-Term Securities — 9.8%** <br>**(Cost: $281,614,714)** | 281731474 |
| **Total Investments — 108.4%** <br>**(Cost: $3,135,072,714)** | **Total Investments — 108.4%** <br>**(Cost: $3,135,072,714)** | 3122756249 |
| **Liabilities in Excess of Other Assets — (8.4)%** | **Liabilities in Excess of Other Assets — (8.4)%** | (243134928)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2879621321 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $87150249<br> $173283795 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(10866)<br>| $58296 | $260481474 | 260299265 | $437753 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 6140000<br> 15110000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 21250000 | 21250000 | 710280 | &nbsp;&nbsp; — |
|  |  |  | $(10866)<br>| $58296 | $281731474 |  | $1148033 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2841024775 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2841024775 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 281731474 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 281731474 |
|  | &nbsp;&nbsp; $281731474 | &nbsp;&nbsp; $2841024775 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3122756249 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.2%** | **Advertising — 0.2%** | **Advertising — 0.2%** |
| Omnicom Group Inc./Omnicom Capital Inc., 3.60%, <br> 04/15/26<br>| &nbsp;&nbsp; $7051 | $6949521 |
| **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** | **Aerospace & Defense — 2.1%** |
| Boeing Co. (The) |  |  |
| 2.20%, 02/04/26 | &nbsp;&nbsp; 23395 | 22534562 |
| 2.25%, 06/15/26 | &nbsp;&nbsp; 2535 | 2416140 |
| 2.75%, 02/01/26 | &nbsp;&nbsp; 7323 | 7100108 |
| 3.10%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3269 | 3165492 |
| General Dynamics Corp. |  |  |
| 1.15%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3318 | 3154898 |
| 2.13%, 08/15/26 | &nbsp;&nbsp; 2985 | 2871160 |
| L3Harris Technologies Inc., 3.85%, 12/15/26 | &nbsp;&nbsp; 2590 | 2549678 |
| Lockheed Martin Corp., 3.55%, 01/15/26 | &nbsp;&nbsp; 6181 | 6106310 |
| RTX Corp. |  |  |
| 2.65%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2694 | 2596270 |
| 5.00%, 02/27/26 | &nbsp;&nbsp; 2895 | 2905863 |
| 5.75%, 11/08/26<sup>(a)</sup> | &nbsp;&nbsp; 6213 | 6345472 |
|  |  | 61745953 |
| **Agriculture — 1.5%** | **Agriculture — 1.5%** | **Agriculture — 1.5%** |
| Altria Group Inc. |  |  |
| 2.63%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; 1811 | 1744615 |
| 4.40%, 02/14/26 | &nbsp;&nbsp; 5335 | 5308693 |
| Archer-Daniels-Midland Co., 2.50%, 08/11/26<sup>(a)</sup> | &nbsp;&nbsp; 5161 | 4977310 |
| BAT Capital Corp., 3.22%, 09/06/26 | &nbsp;&nbsp; 5031 | 4891227 |
| BAT International Finance PLC, 1.67%, 03/25/26 | &nbsp;&nbsp; 7323 | 7012170 |
| Bunge Ltd. Finance Corp., 3.25%, 08/15/26 | &nbsp;&nbsp; 3433 | 3354223 |
| Philip Morris International Inc. |  |  |
| 0.88%, 05/01/26 | &nbsp;&nbsp; 3680 | 3482044 |
| 2.75%, 02/25/26 | &nbsp;&nbsp; 3725 | 3635381 |
| 4.88%, 02/13/26 | &nbsp;&nbsp; 8205 | 8231808 |
|  |  | 42637471 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| American Airlines Pass-Through Trust, Series <br> 2014-1, Class A, 3.70%, 04/01/28<br>| &nbsp;&nbsp; 938 | 904505 |
| Delta Air Lines Inc., 7.38%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3785 | 3875814 |
| Southwest Airlines Co., 3.00%, 11/15/26 | &nbsp;&nbsp; 1486 | 1432080 |
| United Airlines Pass-Through Trust |  |  |
| Series 2014-1, Class A, 4.00%, 10/11/27 | &nbsp;&nbsp; 1012 | 991448 |
| Series 2014-2, Class A, 3.75%, 03/03/28<sup>(a)</sup> | &nbsp;&nbsp; 1817 | 1775597 |
|  |  | 8979444 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| NIKE Inc., 2.38%, 11/01/26 | &nbsp;&nbsp; 6012 | 5782746 |
| Tapestry Inc., 7.00%, 11/27/26 | &nbsp;&nbsp; 3515 | 3589589 |
|  |  | 9372335 |
| **Auto Manufacturers — 4.5%** | **Auto Manufacturers — 4.5%** | **Auto Manufacturers — 4.5%** |
| American Honda Finance Corp. |  |  |
| 1.30%, 09/09/26 | &nbsp;&nbsp; 3873 | 3652687 |
| 2.30%, 09/09/26 | &nbsp;&nbsp; 2704 | 2599018 |
| 4.40%, 10/05/26 | &nbsp;&nbsp; 2465 | 2460628 |
| 4.75%, 01/12/26<sup>(a)</sup> | &nbsp;&nbsp; 1955 | 1958186 |
| 4.95%, 01/09/26 | &nbsp;&nbsp; 4400 | 4417407 |
| 5.25%, 07/07/26<sup>(a)</sup> | &nbsp;&nbsp; 4780 | 4834984 |
| Ford Motor Co., 4.35%, 12/08/26<sup>(a)</sup> | &nbsp;&nbsp; 7105 | 6987006 |
| Ford Motor Credit Co. LLC |  |  |
| 2.70%, 08/10/26 | &nbsp;&nbsp; 7136 | 6807977 |
| 4.39%, 01/08/26 | &nbsp;&nbsp; 5885 | 5812351 |
| 4.54%, 08/01/26 | &nbsp;&nbsp; 3545 | 3494654 |
| 5.13%, 11/05/26 | &nbsp;&nbsp; 5740 | 5717407 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 6.95%, 03/06/26 | &nbsp;&nbsp; $6365 | $6487076 |
| 6.95%, 06/10/26 | &nbsp;&nbsp; 4250 | 4343497 |
| General Motors Financial Co. Inc. |  |  |
| 1.25%, 01/08/26<sup>(a)</sup> | &nbsp;&nbsp; 7145 | 6846200 |
| 1.50%, 06/10/26 | &nbsp;&nbsp; 5978 | 5663931 |
| 4.00%, 10/06/26 | &nbsp;&nbsp; 3565 | 3511991 |
| 5.25%, 03/01/26 | &nbsp;&nbsp; 5950 | 5966438 |
| 5.40%, 04/06/26<sup>(a)</sup> | &nbsp;&nbsp; 7865 | 7924590 |
| PACCAR Financial Corp. |  |  |
| 1.10%, 05/11/26<sup>(a)</sup> | &nbsp;&nbsp; 1613 | 1536025 |
| 4.45%, 03/30/26 | &nbsp;&nbsp; 1930 | 1932702 |
| 5.05%, 08/10/26<sup>(a)</sup> | &nbsp;&nbsp; 1810 | 1829761 |
| 5.20%, 11/09/26 | &nbsp;&nbsp; 1500 | 1524754 |
| Toyota Motor Corp. |  |  |
| 1.34%, 03/25/26<sup>(a)</sup> | &nbsp;&nbsp; 4187 | 4009155 |
| 5.28%, 07/13/26<sup>(a)</sup> | &nbsp;&nbsp; 2245 | 2276446 |
| Toyota Motor Credit Corp. |  |  |
| 0.80%, 01/09/26 | &nbsp;&nbsp; 2529 | 2421248 |
| 1.13%, 06/18/26<sup>(a)</sup> | &nbsp;&nbsp; 4449 | 4221804 |
| 4.45%, 05/18/26 | &nbsp;&nbsp; 6271 | 6271779 |
| 4.55%, 08/07/26 | &nbsp;&nbsp; 2980 | 2985626 |
| 4.80%, 01/05/26<sup>(a)</sup> | &nbsp;&nbsp; 4170 | 4186124 |
| 5.00%, 08/14/26<sup>(a)</sup> | &nbsp;&nbsp; 2910 | 2937383 |
| 5.20%, 05/15/26 | &nbsp;&nbsp; 3334 | 3371081 |
| 5.40%, 11/20/26<sup>(a)</sup> | &nbsp;&nbsp; 3995 | 4067636 |
|  |  | 133057552 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| Magna International Inc., 5.98%, 03/21/26 | &nbsp;&nbsp; 295 | 294675 |
| **Banks — 26.1%** | **Banks — 26.1%** | **Banks — 26.1%** |
| Australia & New Zealand Banking Group Ltd./New <br> York, 5.00%, 03/18/26<br>| &nbsp;&nbsp; 5825 | 5865427 |
| Banco Santander SA, 1.85%, 03/25/26 | &nbsp;&nbsp; 7553 | 7237154 |
| Bank of America Corp. |  |  |
| 3.50%, 04/19/26 | &nbsp;&nbsp; 12252 | 12063227 |
| 4.25%, 10/22/26<sup>(a)</sup> | &nbsp;&nbsp; 9496 | 9405069 |
| 4.45%, 03/03/26 | &nbsp;&nbsp; 9825 | 9774137 |
| 6.22%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1690 | 1736895 |
| Bank of America NA, 5.53%, 08/18/26 | &nbsp;&nbsp; 9825 | 9999196 |
| Bank of Montreal |  |  |
| 1.25%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 6323 | 5943345 |
| 5.27%, 12/11/26<sup>(a)</sup> | &nbsp;&nbsp; 5650 | 5723789 |
| 5.30%, 06/05/26 | &nbsp;&nbsp; 6550 | 6619606 |
| Bank of New York Mellon Corp. (The) |  |  |
| 0.75%, 01/28/26 | &nbsp;&nbsp; 3369 | 3216773 |
| 1.05%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2282 | 2136357 |
| 2.45%, 08/17/26 | &nbsp;&nbsp; 3645 | 3526435 |
| 2.80%, 05/04/26 | &nbsp;&nbsp; 3630 | 3546520 |
| Bank of Nova Scotia (The) |  |  |
| 1.05%, 03/02/26 | &nbsp;&nbsp; 4492 | 4284275 |
| 1.30%, 09/15/26 | &nbsp;&nbsp; 4295 | 4042824 |
| 1.35%, 06/24/26 | &nbsp;&nbsp; 3675 | 3489270 |
| 2.70%, 08/03/26<sup>(a)</sup> | &nbsp;&nbsp; 5987 | 5800000 |
| 4.75%, 02/02/26 | &nbsp;&nbsp; 6180 | 6187356 |
| 5.35%, 12/07/26 | &nbsp;&nbsp; 5515 | 5602010 |
| Barclays PLC |  |  |
| 4.38%, 01/12/26 | &nbsp;&nbsp; 12242 | 12167088 |
| 5.20%, 05/12/26 | &nbsp;&nbsp; 9975 | 9976567 |
| BPCE SA, 3.38%, 12/02/26 | &nbsp;&nbsp; 3124 | 3051685 |
| Canadian Imperial Bank of Commerce |  |  |
| 1.25%, 06/22/26 | &nbsp;&nbsp; 3960 | 3753816 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| 5.62%, 07/17/26<sup>(a)</sup> | &nbsp;&nbsp; $2360 | $2396693 |
| 5.93%, 10/02/26<sup>(a)</sup> | &nbsp;&nbsp; 4205 | 4304211 |
| Citibank NA |  |  |
| 4.93%, 08/06/26 | &nbsp;&nbsp; 6820 | 6862205 |
| 5.44%, 04/30/26 | &nbsp;&nbsp; 10265 | 10388264 |
| 5.49%, 12/04/26 | &nbsp;&nbsp; 9108 | 9276695 |
| Citigroup Inc. |  |  |
| 3.20%, 10/21/26 | &nbsp;&nbsp; 13970 | 13576309 |
| 3.40%, 05/01/26 | &nbsp;&nbsp; 9537 | 9357682 |
| 3.70%, 01/12/26 | &nbsp;&nbsp; 9714 | 9600286 |
| 4.30%, 11/20/26<sup>(a)</sup> | &nbsp;&nbsp; 4622 | 4574318 |
| 4.60%, 03/09/26 | &nbsp;&nbsp; 7113 | 7089180 |
| Citizens Bank NA/Providence RI, 3.75%, <br> 02/18/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2652 | 2608905 |
| Citizens Financial Group Inc., 2.85%, 07/27/26 | &nbsp;&nbsp; 2417 | 2328549 |
| Commonwealth Bank of Australia/New York, <br> 5.32%, 03/13/26<br>| &nbsp;&nbsp; 4420 | 4468229 |
| Cooperatieve Rabobank UA, 3.75%, 07/21/26 | &nbsp;&nbsp; 6330 | 6192390 |
| Cooperatieve Rabobank UA/New York |  |  |
| 4.33%, 08/28/26 | &nbsp;&nbsp; 100 | 99899 |
| 4.85%, 01/09/26 | &nbsp;&nbsp; 3775 | 3788650 |
| 5.50%, 10/05/26<sup>(a)</sup> | &nbsp;&nbsp; 5275 | 5374829 |
| Deutsche Bank AG, 4.10%, 01/13/26 | &nbsp;&nbsp; 1637 | 1618893 |
| Deutsche Bank AG/New York |  |  |
| 1.69%, 03/19/26 | &nbsp;&nbsp; 4200 | 4032988 |
| 4.10%, 01/13/26 | &nbsp;&nbsp; 1940 | 1917528 |
| Discover Bank |  |  |
| 3.45%, 07/27/26 | &nbsp;&nbsp; 4919 | 4794052 |
| 4.25%, 03/13/26 | &nbsp;&nbsp; 2080 | 2064805 |
| Fifth Third Bank NA, 3.85%, 03/15/26 | &nbsp;&nbsp; 3483 | 3432042 |
| Goldman Sachs Group Inc. (The) |  |  |
| 3.50%, 11/16/26<sup>(a)</sup> | &nbsp;&nbsp; 13289 | 12967853 |
| 3.75%, 02/25/26<sup>(a)</sup> | &nbsp;&nbsp; 9231 | 9115575 |
| HSBC Holdings PLC |  |  |
| 3.90%, 05/25/26<sup>(a)</sup> | &nbsp;&nbsp; 7370 | 7275555 |
| 4.30%, 03/08/26<sup>(a)</sup> | &nbsp;&nbsp; 5455 | 5421253 |
| 4.38%, 11/23/26<sup>(a)</sup> | &nbsp;&nbsp; 5449 | 5388396 |
| JPMorgan Chase & Co. |  |  |
| 2.95%, 10/01/26 | &nbsp;&nbsp; 13477 | 13094586 |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 8369 | 8194956 |
| 3.30%, 04/01/26 | &nbsp;&nbsp; 12110 | 11894819 |
| 4.13%, 12/15/26 | &nbsp;&nbsp; 9648 | 9551546 |
| 7.63%, 10/15/26 | &nbsp;&nbsp; 2502 | 2641683 |
| JPMorgan Chase Bank NA, 5.11%, 12/08/26 | &nbsp;&nbsp; 13225 | 13379110 |
| KeyBank NA, 4.70%, 01/26/26 | &nbsp;&nbsp; 2180 | 2171891 |
| KeyBank NA/Cleveland OH, 3.40%, 05/20/26 | &nbsp;&nbsp; 2780 | 2702049 |
| Lloyds Banking Group PLC, 4.65%, 03/24/26 | &nbsp;&nbsp; 7559 | 7503986 |
| Manufacturers & Traders Trust Co., 4.65%, <br> 01/27/26<br>| &nbsp;&nbsp; 6410 | 6383720 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 2.76%, 09/13/26<sup>(a)</sup> | &nbsp;&nbsp; 4753 | 4597477 |
| 3.85%, 03/01/26 | &nbsp;&nbsp; 11310 | 11194605 |
| Mizuho Financial Group Inc., 2.84%, 09/13/26 | &nbsp;&nbsp; 5322 | 5154952 |
| Morgan Stanley |  |  |
| 3.13%, 07/27/26 | &nbsp;&nbsp; 14282 | 13927077 |
| 3.88%, 01/27/26<sup>(a)</sup> | &nbsp;&nbsp; 14428 | 14297475 |
| 4.35%, 09/08/26 | &nbsp;&nbsp; 10745 | 10672188 |
| 6.25%, 08/09/26<sup>(a)</sup> | &nbsp;&nbsp; 3428 | 3521477 |
| Morgan Stanley Bank NA |  |  |
| 4.75%, 04/21/26 | &nbsp;&nbsp; 7325 | 7349870 |
| 5.88%, 10/30/26 | &nbsp;&nbsp; 7353 | 7536527 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| National Australia Bank Ltd./New York |  |  |
| 2.50%, 07/12/26 | &nbsp;&nbsp; $6560 | $6351949 |
| 3.38%, 01/14/26 | &nbsp;&nbsp; 3737 | 3685468 |
| 4.97%, 01/12/26<sup>(a)</sup> | &nbsp;&nbsp; 5210 | 5233453 |
| NatWest Group PLC, 4.80%, 04/05/26<sup>(a)</sup> | &nbsp;&nbsp; 7836 | 7836226 |
| PNC Financial Services Group Inc. (The) |  |  |
| 1.15%, 08/13/26 | &nbsp;&nbsp; 3656 | 3438937 |
| 2.60%, 07/23/26<sup>(a)</sup> | &nbsp;&nbsp; 5031 | 4864069 |
| Royal Bank of Canada |  |  |
| 0.88%, 01/20/26<sup>(a)</sup> | &nbsp;&nbsp; 6060 | 5797683 |
| 1.15%, 07/14/26 | &nbsp;&nbsp; 3350 | 3167896 |
| 1.20%, 04/27/26 | &nbsp;&nbsp; 8275 | 7878623 |
| 1.40%, 11/02/26 | &nbsp;&nbsp; 4100 | 3857452 |
| 4.65%, 01/27/26 | &nbsp;&nbsp; 7264 | 7231418 |
| 4.88%, 01/12/26<sup>(a)</sup> | &nbsp;&nbsp; 5095 | 5114886 |
| 5.20%, 07/20/26 | &nbsp;&nbsp; 4890 | 4947391 |
| Santander Holdings USA Inc., 3.24%, 10/05/26 | &nbsp;&nbsp; 4805 | 4642186 |
| State Street Corp. |  |  |
| 2.65%, 05/19/26 | &nbsp;&nbsp; 4006 | 3898501 |
| 5.27%, 08/03/26 | &nbsp;&nbsp; 5960 | 6033949 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 0.95%, 01/12/26 | &nbsp;&nbsp; 5154 | 4927062 |
| 1.40%, 09/17/26 | &nbsp;&nbsp; 9627 | 9073749 |
| 2.63%, 07/14/26 | &nbsp;&nbsp; 11170 | 10798646 |
| 3.01%, 10/19/26<sup>(a)</sup> | &nbsp;&nbsp; 6352 | 6159725 |
| 3.78%, 03/09/26 | &nbsp;&nbsp; 7263 | 7178465 |
| 5.46%, 01/13/26 | &nbsp;&nbsp; 8765 | 8842432 |
| 5.88%, 07/13/26 | &nbsp;&nbsp; 3080 | 3139163 |
| Toronto-Dominion Bank (The) |  |  |
| 0.75%, 01/06/26 | &nbsp;&nbsp; 6013 | 5738093 |
| 1.20%, 06/03/26 | &nbsp;&nbsp; 6245 | 5912066 |
| 1.25%, 09/10/26 | &nbsp;&nbsp; 6813 | 6408055 |
| 5.10%, 01/09/26 | &nbsp;&nbsp; 2725 | 2735689 |
| 5.26%, 12/11/26 | &nbsp;&nbsp; 2750 | 2785306 |
| 5.53%, 07/17/26 | &nbsp;&nbsp; 8633 | 8748704 |
| Truist Bank |  |  |
| 3.30%, 05/15/26 | &nbsp;&nbsp; 3674 | 3586972 |
| 3.80%, 10/30/26 | &nbsp;&nbsp; 4353 | 4265376 |
| U.S. Bancorp |  |  |
| 3.10%, 04/27/26<sup>(a)</sup> | &nbsp;&nbsp; 5059 | 4934900 |
| Series V, 2.38%, 07/22/26<sup>(a)</sup> | &nbsp;&nbsp; 6600 | 6370282 |
| UBS AG/London, 1.25%, 06/01/26 | &nbsp;&nbsp; 4425 | 4201214 |
| UBS AG/Stamford CT, 1.25%, 08/07/26<sup>(a)</sup> | &nbsp;&nbsp; 7625 | 7197223 |
| UBS Group AG, 4.55%, 04/17/26 | &nbsp;&nbsp; 9756 | 9717946 |
| Wachovia Corp., 7.57%, 08/01/26<sup>(a)(b)</sup> | &nbsp;&nbsp; 1155 | 1205431 |
| Wells Fargo & Co. |  |  |
| 3.00%, 04/22/26 | &nbsp;&nbsp; 16601 | 16207808 |
| 3.00%, 10/23/26 | &nbsp;&nbsp; 16392 | 15875491 |
| 4.10%, 06/03/26 | &nbsp;&nbsp; 11386 | 11261044 |
| Wells Fargo Bank NA |  |  |
| 4.81%, 01/15/26 | &nbsp;&nbsp; 8705 | 8725026 |
| 5.25%, 12/11/26 | &nbsp;&nbsp; 10545 | 10703204 |
| 5.45%, 08/07/26 | &nbsp;&nbsp; 10344 | 10498720 |
| Westpac Banking Corp. |  |  |
| 1.15%, 06/03/26 | &nbsp;&nbsp; 6445 | 6121998 |
| 2.70%, 08/19/26<sup>(a)</sup> | &nbsp;&nbsp; 5032 | 4884503 |
| 2.85%, 05/13/26 | &nbsp;&nbsp; 7471 | 7295438 |
| 5.20%, 04/16/26 | &nbsp;&nbsp; 3345 | 3378819 |
|  |  | 764093686 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages — 1.3%** | **Beverages — 1.3%** | **Beverages — 1.3%** |
| Anheuser-Busch Companies LLC/Anheuser-Busch <br> InBev Worldwide Inc., 3.65%, 02/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; $5875 | $5807274 |
| Constellation Brands Inc. |  |  |
| 3.70%, 12/06/26<sup>(a)</sup> | &nbsp;&nbsp; 3252 | 3186957 |
| 5.00%, 02/02/26 | &nbsp;&nbsp; 1750 | 1749204 |
| Diageo Capital PLC, 5.38%, 10/05/26 | &nbsp;&nbsp; 2500 | 2538240 |
| Keurig Dr Pepper Inc., 2.55%, 09/15/26 | &nbsp;&nbsp; 2153 | 2071660 |
| Molson Coors Beverage Co., 3.00%, 07/15/26 | &nbsp;&nbsp; 9336 | 9085685 |
| PepsiCo Inc. |  |  |
| 2.38%, 10/06/26 | &nbsp;&nbsp; 4428 | 4270163 |
| 2.85%, 02/24/26 | &nbsp;&nbsp; 3761 | 3686648 |
| 4.55%, 02/13/26 | &nbsp;&nbsp; 1955 | 1959120 |
| 5.13%, 11/10/26 | &nbsp;&nbsp; 3245 | 3293799 |
|  |  | 37648750 |
| **Biotechnology — 0.8%** | **Biotechnology — 0.8%** | **Biotechnology — 0.8%** |
| Amgen Inc. |  |  |
| 2.60%, 08/19/26 | &nbsp;&nbsp; 6442 | 6220100 |
| 5.51%, 03/02/26 | &nbsp;&nbsp; 1750 | 1749763 |
| Gilead Sciences Inc., 3.65%, 03/01/26 | &nbsp;&nbsp; 12546 | 12386481 |
| Illumina Inc., 4.65%, 09/09/26 | &nbsp;&nbsp; 2055 | 2049119 |
|  |  | 22405463 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| Johnson Controls International PLC, 3.90%, <br> 02/14/26<br>| &nbsp;&nbsp; 2567 | 2537486 |
| Owens Corning, 3.40%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1922 | 1879528 |
| Trane Technologies Financing Ltd., 3.50%, <br> 03/21/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2187 | 2153287 |
|  |  | 6570301 |
| **Chemicals — 1.0%** | **Chemicals — 1.0%** | **Chemicals — 1.0%** |
| Celanese U.S. Holdings LLC, 1.40%, 08/05/26 | &nbsp;&nbsp; 1930 | 1813941 |
| Ecolab Inc., 2.70%, 11/01/26 | &nbsp;&nbsp; 3544 | 3422104 |
| EIDP Inc., 4.50%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3385 | 3379688 |
| FMC Corp. |  |  |
| 3.20%, 10/01/26 | &nbsp;&nbsp; 2332 | 2255644 |
| 5.15%, 05/18/26 | &nbsp;&nbsp; 2630 | 2637634 |
| Linde Inc./CT, 3.20%, 01/30/26 | &nbsp;&nbsp; 3756 | 3701383 |
| Nutrien Ltd., 4.00%, 12/15/26 | &nbsp;&nbsp; 1836 | 1805706 |
| PPG Industries Inc., 1.20%, 03/15/26 | &nbsp;&nbsp; 3405 | 3243127 |
| Sherwin-Williams Co. (The), 3.95%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1915 | 1898310 |
| Westlake Corp., 3.60%, 08/15/26 | &nbsp;&nbsp; 3898 | 3815443 |
|  |  | 27972980 |
| **Commercial Services — 0.6%** | **Commercial Services — 0.6%** | **Commercial Services — 0.6%** |
| Global Payments Inc. |  |  |
| 1.20%, 03/01/26 | &nbsp;&nbsp; 5495 | 5241839 |
| 4.80%, 04/01/26 | &nbsp;&nbsp; 3914 | 3907261 |
| GXO Logistics Inc., 1.65%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1908 | 1807046 |
| PayPal Holdings Inc., 2.65%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 6339 | 6125990 |
|  |  | 17082136 |
| **Computers — 3.8%** | **Computers — 3.8%** | **Computers — 3.8%** |
| Apple Inc. |  |  |
| 0.70%, 02/08/26 | &nbsp;&nbsp; 9718 | 9276914 |
| 2.05%, 09/11/26 | &nbsp;&nbsp; 8139 | 7807589 |
| 2.45%, 08/04/26 | &nbsp;&nbsp; 9272 | 8978102 |
| 3.25%, 02/23/26<sup>(a)</sup> | &nbsp;&nbsp; 14649 | 14448407 |
| CGI Inc., 1.45%, 09/14/26 | &nbsp;&nbsp; 2694 | 2533271 |
| Dell International LLC/EMC Corp. |  |  |
| 4.90%, 10/01/26 | &nbsp;&nbsp; 8801 | 8825165 |
| 6.02%, 06/15/26 | &nbsp;&nbsp; 11152 | 11336614 |
| DXC Technology Co., 1.80%, 09/15/26 | &nbsp;&nbsp; 3010 | 2829817 |
| Fortinet Inc., 1.00%, 03/15/26 | &nbsp;&nbsp; 2385 | 2266646 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| Genpact Luxembourg SARL/Genpact USA Inc., <br> 1.75%, 04/10/26<sup>(a)</sup><br>| &nbsp;&nbsp; $1563 | $1492555 |
| Hewlett Packard Enterprise Co. |  |  |
| 1.75%, 04/01/26 | &nbsp;&nbsp; 4274 | 4094330 |
| 4.45%, 09/25/26 | &nbsp;&nbsp; 5170 | 5146920 |
| HP Inc., 1.45%, 06/17/26 | &nbsp;&nbsp; 2275 | 2156734 |
| IBM International Capital Pte Ltd., 4.70%, <br> 02/05/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3435 | 3437109 |
| International Business Machines Corp. |  |  |
| 3.30%, 05/15/26 | &nbsp;&nbsp; 13470 | 13214863 |
| 3.45%, 02/19/26 | &nbsp;&nbsp; 6865 | 6771120 |
| 4.50%, 02/06/26<sup>(a)</sup> | &nbsp;&nbsp; 3080 | 3075619 |
| Kyndryl Holdings Inc., 2.05%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3195 | 3022713 |
|  |  | 110714488 |
| **Cosmetics & Personal Care — 0.8%** | **Cosmetics & Personal Care — 0.8%** | **Cosmetics & Personal Care — 0.8%** |
| Colgate-Palmolive Co., 4.80%, 03/02/26 | &nbsp;&nbsp; 2450 | 2464917 |
| Conopco Inc., Series E, 7.25%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1159 | 1220311 |
| Kenvue Inc., 5.35%, 03/22/26 | &nbsp;&nbsp; 3805 | 3847495 |
| Procter & Gamble Co. (The) |  |  |
| 1.00%, 04/23/26 | &nbsp;&nbsp; 4092 | 3909870 |
| 2.45%, 11/03/26 | &nbsp;&nbsp; 3776 | 3643941 |
| 2.70%, 02/02/26 | &nbsp;&nbsp; 3110 | 3051275 |
| 4.10%, 01/26/26<sup>(a)</sup> | &nbsp;&nbsp; 2206 | 2202459 |
| Unilever Capital Corp., 2.00%, 07/28/26<sup>(a)</sup> | &nbsp;&nbsp; 3906 | 3754163 |
|  |  | 24094431 |
| **Diversified Financial Services — 4.2%** | **Diversified Financial Services — 4.2%** | **Diversified Financial Services — 4.2%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 1.75%, 01/30/26 | &nbsp;&nbsp; 5808 | 5584198 |
| 2.45%, 10/29/26 | &nbsp;&nbsp; 17269 | 16482787 |
| 4.45%, 04/03/26 | &nbsp;&nbsp; 2723 | 2702880 |
| Air Lease Corp. |  |  |
| 1.88%, 08/15/26 | &nbsp;&nbsp; 6195 | 5886328 |
| 2.88%, 01/15/26 | &nbsp;&nbsp; 7171 | 7001303 |
| 3.75%, 06/01/26 | &nbsp;&nbsp; 3573 | 3511870 |
| 5.30%, 06/25/26<sup>(a)</sup> | &nbsp;&nbsp; 2345 | 2364714 |
| Aircastle Ltd., 4.25%, 06/15/26 | &nbsp;&nbsp; 3436 | 3391037 |
| American Express Co. |  |  |
| 1.65%, 11/04/26<sup>(a)</sup> | &nbsp;&nbsp; 5800 | 5472737 |
| 3.13%, 05/20/26 | &nbsp;&nbsp; 4351 | 4259878 |
| 4.90%, 02/13/26 | &nbsp;&nbsp; 5200 | 5221933 |
| Ameriprise Financial Inc., 2.88%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2765 | 2686545 |
| Brookfield Finance Inc., 4.25%, 06/02/26<sup>(a)</sup> | &nbsp;&nbsp; 2483 | 2467460 |
| Capital One Financial Corp., 3.75%, 07/28/26<sup>(a)</sup> | &nbsp;&nbsp; 7502 | 7342627 |
| Charles Schwab Corp. (The) |  |  |
| 0.90%, 03/11/26 | &nbsp;&nbsp; 6029 | 5727767 |
| 1.15%, 05/13/26 | &nbsp;&nbsp; 4748 | 4507303 |
| 3.45%, 02/13/26 | &nbsp;&nbsp; 1735 | 1706862 |
| 5.88%, 08/24/26 | &nbsp;&nbsp; 4684 | 4779742 |
| Discover Financial Services, 4.50%, 01/30/26<sup>(a)</sup> | &nbsp;&nbsp; 3096 | 3078444 |
| Invesco Finance PLC, 3.75%, 01/15/26 | &nbsp;&nbsp; 2950 | 2911585 |
| Legg Mason Inc., 4.75%, 03/15/26 | &nbsp;&nbsp; 2243 | 2241908 |
| Mastercard Inc., 2.95%, 11/21/26 | &nbsp;&nbsp; 4294 | 4176935 |
| Nasdaq Inc., 3.85%, 06/30/26 | &nbsp;&nbsp; 2547 | 2511626 |
| Nomura Holdings Inc. |  |  |
| 1.65%, 07/14/26 | &nbsp;&nbsp; 5926 | 5605490 |
| 5.71%, 01/09/26<sup>(a)</sup> | &nbsp;&nbsp; 2920 | 2941808 |
| Synchrony Financial, 3.70%, 08/04/26 | &nbsp;&nbsp; 2471 | 2410306 |
| Voya Financial Inc., 3.65%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2415 | 2370107 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Western Union Co. (The), 1.35%, 03/15/26 | &nbsp;&nbsp; $2570 | $2444018 |
|  |  | 121790198 |
| **Electric — 5.5%** | **Electric — 5.5%** | **Electric — 5.5%** |
| AEP Transmission Co. LLC, 3.10%, 12/01/26 | &nbsp;&nbsp; 1950 | 1893057 |
| AES Corp. (The), 1.38%, 01/15/26 | &nbsp;&nbsp; 4405 | 4218991 |
| Algonquin Power & Utilities Corp., 5.37%, <br> 06/15/26<sup>(b)</sup><br>| &nbsp;&nbsp; 4115 | 4138420 |
| Ameren Corp. |  |  |
| 3.65%, 02/15/26 | &nbsp;&nbsp; 1601 | 1577033 |
| 5.70%, 12/01/26 | &nbsp;&nbsp; 3254 | 3312148 |
| Baltimore Gas & Electric Co., 2.40%, 08/15/26 | &nbsp;&nbsp; 1746 | 1683413 |
| Black Hills Corp., 3.95%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1720 | 1698472 |
| CenterPoint Energy Houston Electric LLC, <br> Series Z, 2.40%, 09/01/26<br>| &nbsp;&nbsp; 1556 | 1497146 |
| CenterPoint Energy Inc. |  |  |
| 1.45%, 06/01/26 | &nbsp;&nbsp; 2505 | 2379375 |
| 5.25%, 08/10/26 | &nbsp;&nbsp; 1465 | 1476061 |
| Cleco Corporate Holdings LLC, 3.74%, 05/01/26 | &nbsp;&nbsp; 2682 | 2624802 |
| CMS Energy Corp., 3.00%, 05/15/26 | &nbsp;&nbsp; 1131 | 1098507 |
| Commonwealth Edison Co., 2.55%, 06/15/26 | &nbsp;&nbsp; 2345 | 2271137 |
| Dominion Energy Inc. |  |  |
| Series A, 1.45%, 04/15/26 | &nbsp;&nbsp; 2750 | 2621850 |
| Series D, 2.85%, 08/15/26 | &nbsp;&nbsp; 1943 | 1878528 |
| DTE Electric Co., 4.85%, 12/01/26 | &nbsp;&nbsp; 1310 | 1322010 |
| DTE Energy Co., 2.85%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3031 | 2929246 |
| Duke Energy Carolinas LLC, 2.95%, 12/01/26 | &nbsp;&nbsp; 3019 | 2929306 |
| Duke Energy Corp., 2.65%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 7611 | 7345299 |
| Emera U.S. Finance LP, 3.55%, 06/15/26 | &nbsp;&nbsp; 3881 | 3791891 |
| Enel Americas SA, 4.00%, 10/25/26 | &nbsp;&nbsp; 2538 | 2488744 |
| Entergy Arkansas LLC, 3.50%, 04/01/26 | &nbsp;&nbsp; 3103 | 3060163 |
| Entergy Corp., 2.95%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3568 | 3456112 |
| Entergy Louisiana LLC, 2.40%, 10/01/26 | &nbsp;&nbsp; 2105 | 2024246 |
| Evergy Kansas Central Inc., 2.55%, 07/01/26 | &nbsp;&nbsp; 964 | 932341 |
| Eversource Energy |  |  |
| 4.75%, 05/15/26 | &nbsp;&nbsp; 2205 | 2204184 |
| Series U, 1.40%, 08/15/26 | &nbsp;&nbsp; 1655 | 1559039 |
| Exelon Corp., 3.40%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4037 | 3961017 |
| FirstEnergy Corp., Series A, 1.60%, 01/15/26 | &nbsp;&nbsp; 860 | 824186 |
| Florida Power & Light Co., 4.45%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2885 | 2887675 |
| Fortis Inc./Canada, 3.06%, 10/04/26<sup>(a)</sup> | &nbsp;&nbsp; 5509 | 5332736 |
| Georgia Power Co., 3.25%, 04/01/26 | &nbsp;&nbsp; 1762 | 1728944 |
| ITC Holdings Corp., 3.25%, 06/30/26 | &nbsp;&nbsp; 1945 | 1895528 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 1.00%, 06/15/26 | &nbsp;&nbsp; 3036 | 2870032 |
| 4.45%, 03/13/26 | &nbsp;&nbsp; 2315 | 2310136 |
| 5.60%, 11/13/26 | &nbsp;&nbsp; 1750 | 1783623 |
| NextEra Energy Capital Holdings Inc., 4.95%, <br> 01/29/26<sup>(a)</sup><br>| &nbsp;&nbsp; 5055 | 5071684 |
| Pacific Gas and Electric Co. |  |  |
| 2.95%, 03/01/26 | &nbsp;&nbsp; 3106 | 3021800 |
| 3.15%, 01/01/26 | &nbsp;&nbsp; 9481 | 9274621 |
| PPL Capital Funding Inc., 3.10%, 05/15/26 | &nbsp;&nbsp; 3188 | 3104970 |
| Public Service Electric & Gas Co. |  |  |
| 0.95%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2506 | 2382946 |
| 2.25%, 09/15/26 | &nbsp;&nbsp; 2333 | 2241739 |
| San Diego Gas & Electric Co., 2.50%, 05/15/26 | &nbsp;&nbsp; 2595 | 2519441 |
| Sempra, 5.40%, 08/01/26 | &nbsp;&nbsp; 2980 | 3010549 |
| Sierra Pacific Power Co., 2.60%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1821 | 1769240 |
| Southern California Edison Co. |  |  |
| 4.40%, 09/06/26 | &nbsp;&nbsp; 95 | 94681 |
| 4.90%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2040 | 2050246 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 5.35%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; $2615 | $2638664 |
| Series 2020-C, 1.20%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1846 | 1769260 |
| Southern Co. (The), 3.25%, 07/01/26 | &nbsp;&nbsp; 8435 | 8248509 |
| Southern Power Co., 0.90%, 01/15/26 | &nbsp;&nbsp; 2236 | 2133870 |
| Southwestern Electric Power Co. |  |  |
| Series K, 2.75%, 10/01/26 | &nbsp;&nbsp; 1742 | 1677799 |
| Series N, 1.65%, 03/15/26 | &nbsp;&nbsp; 2585 | 2479852 |
| Virginia Electric & Power Co. |  |  |
| Series A, 3.15%, 01/15/26 | &nbsp;&nbsp; 3910 | 3844186 |
| Series B, 2.95%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1980 | 1921442 |
| WEC Energy Group Inc. |  |  |
| 4.75%, 01/09/26 | &nbsp;&nbsp; 5380 | 5384427 |
| 5.60%, 09/12/26<sup>(a)</sup> | &nbsp;&nbsp; 3050 | 3096996 |
| Xcel Energy Inc., 3.35%, 12/01/26 | &nbsp;&nbsp; 2225 | 2161321 |
|  |  | 161903641 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Emerson Electric Co., 0.88%, 10/15/26 | &nbsp;&nbsp; 3553 | 3328611 |
| **Electronics — 1.1%** | **Electronics — 1.1%** | **Electronics — 1.1%** |
| Amphenol Corp., 4.75%, 03/30/26 | &nbsp;&nbsp; 1445 | 1447319 |
| Avnet Inc., 4.63%, 04/15/26 | &nbsp;&nbsp; 2628 | 2609768 |
| Flex Ltd., 3.75%, 02/01/26 | &nbsp;&nbsp; 3460 | 3404208 |
| Fortive Corp., 3.15%, 06/15/26 | &nbsp;&nbsp; 4437 | 4320900 |
| Honeywell International Inc., 2.50%, 11/01/26 | &nbsp;&nbsp; 7618 | 7350072 |
| Hubbell Inc., 3.35%, 03/01/26 | &nbsp;&nbsp; 2178 | 2135181 |
| Jabil Inc., 1.70%, 04/15/26 | &nbsp;&nbsp; 2304 | 2196899 |
| TD SYNNEX Corp., 1.75%, 08/09/26<sup>(a)</sup> | &nbsp;&nbsp; 2877 | 2722858 |
| Tyco Electronics Group SA |  |  |
| 3.70%, 02/15/26 | &nbsp;&nbsp; 2045 | 2017314 |
| 4.50%, 02/13/26 | &nbsp;&nbsp; 2830 | 2826212 |
| Vontier Corp., 1.80%, 04/01/26 | &nbsp;&nbsp; 2773 | 2646877 |
|  |  | 33677608 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| Warnermedia Holdings Inc., 6.41%, 03/15/26 | &nbsp;&nbsp; 5381 | 5381469 |
| **Environmental Control — 0.2%** | **Environmental Control — 0.2%** | **Environmental Control — 0.2%** |
| Republic Services Inc., 2.90%, 07/01/26 | &nbsp;&nbsp; 2744 | 2672823 |
| Veralto Corp., 5.50%, 09/18/26<sup>(a)</sup> | &nbsp;&nbsp; 3455 | 3501330 |
|  |  | 6174153 |
| **Food — 1.5%** | **Food — 1.5%** | **Food — 1.5%** |
| Campbell Soup Co., 5.30%, 03/20/26 | &nbsp;&nbsp; 1850 | 1863838 |
| Conagra Brands Inc., 5.30%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2650 | 2676705 |
| Flowers Foods Inc., 3.50%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1450 | 1415051 |
| Hershey Co. (The), 2.30%, 08/15/26 | &nbsp;&nbsp; 2861 | 2758165 |
| Ingredion Inc., 3.20%, 10/01/26 | &nbsp;&nbsp; 1803 | 1751430 |
| Kellanova, 3.25%, 04/01/26 | &nbsp;&nbsp; 4262 | 4176119 |
| Kraft Heinz Foods Co., 3.00%, 06/01/26 | &nbsp;&nbsp; 9585 | 9330819 |
| Kroger Co. (The) |  |  |
| 2.65%, 10/15/26 | &nbsp;&nbsp; 4330 | 4165025 |
| 3.50%, 02/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2736 | 2696897 |
| 4.70%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2680 | 2688076 |
| McCormick & Co. Inc./MD, 0.90%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2853 | 2716069 |
| Sysco Corp., 3.30%, 07/15/26 | &nbsp;&nbsp; 5111 | 4993331 |
| Tyson Foods Inc., 4.00%, 03/01/26 | &nbsp;&nbsp; 3823 | 3781200 |
|  |  | 45012725 |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| National Fuel Gas Co. |  |  |
| 5.50%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2652 | 2664929 |
| 5.50%, 10/01/26 | &nbsp;&nbsp; 1470 | 1487474 |
| Southern California Gas Co., Series TT, 2.60%, <br> 06/15/26<br>| &nbsp;&nbsp; 2290 | 2219582 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Gas (continued)** | **Gas (continued)** | **Gas (continued)** |
| Southern Co. Gas Capital Corp., 3.25%, 06/15/26 | &nbsp;&nbsp; $1655 | $1616863 |
| Spire Inc., 5.30%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1085 | 1091042 |
|  |  | 9079890 |
| **Hand & Machine Tools — 0.3%** | **Hand & Machine Tools — 0.3%** | **Hand & Machine Tools — 0.3%** |
| Regal Rexnord Corp., 6.05%, 02/15/26 | &nbsp;&nbsp; 5655 | 5712132 |
| Stanley Black & Decker Inc. |  |  |
| 3.40%, 03/01/26 | &nbsp;&nbsp; 2888 | 2835145 |
| 6.27%, 03/06/26<sup>(a)</sup> | &nbsp;&nbsp; 125 | 124938 |
|  |  | 8672215 |
| **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** |
| Abbott Laboratories, 3.75%, 11/30/26 | &nbsp;&nbsp; 9663 | 9556982 |
| Agilent Technologies Inc., 3.05%, 09/22/26<sup>(a)</sup> | &nbsp;&nbsp; 1369 | 1327635 |
| Baxter International Inc., 2.60%, 08/15/26 | &nbsp;&nbsp; 3405 | 3277756 |
| Stryker Corp., 3.50%, 03/15/26 | &nbsp;&nbsp; 5425 | 5342217 |
| Thermo Fisher Scientific Inc. |  |  |
| 4.95%, 08/10/26 | &nbsp;&nbsp; 2595 | 2619485 |
| 5.00%, 12/05/26 | &nbsp;&nbsp; 4695 | 4750423 |
| Zimmer Biomet Holdings Inc., 3.05%, 01/15/26 | &nbsp;&nbsp; 3276 | 3209189 |
|  |  | 30083687 |
| **Health Care - Services — 2.0%** | **Health Care - Services — 2.0%** | **Health Care - Services — 2.0%** |
| Cigna Group (The) |  |  |
| 1.25%, 03/15/26 | &nbsp;&nbsp; 2487 | 2371937 |
| 4.50%, 02/25/26<sup>(a)</sup> | &nbsp;&nbsp; 5035 | 5021341 |
| 5.69%, 03/15/26 | &nbsp;&nbsp; 1190 | 1189853 |
| Elevance Health Inc. |  |  |
| 1.50%, 03/15/26 | &nbsp;&nbsp; 4288 | 4107361 |
| 4.50%, 10/30/26<sup>(a)</sup> | &nbsp;&nbsp; 2040 | 2036578 |
| 4.90%, 02/08/26 | &nbsp;&nbsp; 2265 | 2259163 |
| HCA Inc. |  |  |
| 5.25%, 06/15/26 | &nbsp;&nbsp; 7094 | 7121378 |
| 5.38%, 09/01/26 | &nbsp;&nbsp; 4940 | 4965084 |
| 5.88%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 7110 | 7161625 |
| Humana Inc., 5.70%, 03/13/26 | &nbsp;&nbsp; 930 | 930064 |
| Laboratory Corp. of America Holdings, 1.55%, <br> 06/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2550 | 2430707 |
| Providence St. Joseph Health Obligated Group, <br> Series H, 2.75%, 10/01/26<br>| &nbsp;&nbsp; 1030 | 991084 |
| Quest Diagnostics Inc., 3.45%, 06/01/26 | &nbsp;&nbsp; 2728 | 2674936 |
| UnitedHealth Group Inc. |  |  |
| 1.15%, 05/15/26 | &nbsp;&nbsp; 4782 | 4547127 |
| 1.25%, 01/15/26 | &nbsp;&nbsp; 2537 | 2440033 |
| 3.10%, 03/15/26 | &nbsp;&nbsp; 4750 | 4663092 |
| 4.75%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1880 | 1891888 |
| Universal Health Services Inc., 1.65%, 09/01/26 | &nbsp;&nbsp; 3105 | 2924400 |
| UPMC, Series 2021, 1.80%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 215 | 205091 |
|  |  | 59932742 |
| **Holding Companies - Diversified — 1.9%** | **Holding Companies - Diversified — 1.9%** | **Holding Companies - Diversified — 1.9%** |
| Ares Capital Corp. |  |  |
| 2.15%, 07/15/26 | &nbsp;&nbsp; 4897 | 4646767 |
| 3.88%, 01/15/26 | &nbsp;&nbsp; 5718 | 5621777 |
| Bain Capital Specialty Finance Inc. |  |  |
| 2.55%, 10/13/26 | &nbsp;&nbsp; 1370 | 1290644 |
| 2.95%, 03/10/26<sup>(a)</sup> | &nbsp;&nbsp; 1727 | 1665522 |
| Barings BDC Inc., 3.30%, 11/23/26 | &nbsp;&nbsp; 1535 | 1458389 |
| Blackstone Private Credit Fund, 2.63%, 12/15/26 | &nbsp;&nbsp; 5197 | 4896734 |
| Blackstone Secured Lending Fund |  |  |
| 2.75%, 09/16/26 | &nbsp;&nbsp; 3445 | 3281899 |
| 3.63%, 01/15/26 | &nbsp;&nbsp; 3980 | 3890572 |
| Blue Owl Capital Corp. |  |  |
| 3.40%, 07/15/26 | &nbsp;&nbsp; 4748 | 4573799 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| 4.25%, 01/15/26 | &nbsp;&nbsp; $2525 | $2486376 |
| Blue Owl Capital Corp. II, 8.45%, 11/15/26 | &nbsp;&nbsp; 1765 | 1838384 |
| Blue Owl Credit Income Corp., 3.13%, 09/23/26 | &nbsp;&nbsp; 1835 | 1746709 |
| FS KKR Capital Corp., 3.40%, 01/15/26 | &nbsp;&nbsp; 4816 | 4686011 |
| Goldman Sachs BDC Inc., 2.88%, 01/15/26 | &nbsp;&nbsp; 2741 | 2668878 |
| Golub Capital BDC Inc., 2.50%, 08/24/26 | &nbsp;&nbsp; 3052 | 2890495 |
| Main Street Capital Corp., 3.00%, 07/14/26 | &nbsp;&nbsp; 2573 | 2457608 |
| Prospect Capital Corp. |  |  |
| 3.36%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1416 | 1331594 |
| 3.71%, 01/22/26<sup>(a)</sup> | &nbsp;&nbsp; 1955 | 1902482 |
| Sixth Street Specialty Lending Inc., 2.50%, <br> 08/01/26<sup>(a)</sup><br>| &nbsp;&nbsp; 1611 | 1531156 |
|  |  | 54865796 |
| **Home Builders — 0.2%** | **Home Builders — 0.2%** | **Home Builders — 0.2%** |
| DR Horton Inc., 1.30%, 10/15/26 | &nbsp;&nbsp; 3057 | 2870284 |
| Lennar Corp., 5.25%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2176 | 2186461 |
|  |  | 5056745 |
| **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** |
| Kimberly-Clark Corp., 2.75%, 02/15/26 | &nbsp;&nbsp; 1665 | 1627731 |
| **Insurance — 2.0%** | **Insurance — 2.0%** | **Insurance — 2.0%** |
| Aflac Inc. |  |  |
| 1.13%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2685 | 2558140 |
| 2.88%, 10/15/26 | &nbsp;&nbsp; 1452 | 1407027 |
| Allstate Corp. (The), 3.28%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2433 | 2367896 |
| Arch Capital Finance LLC, 4.01%, 12/15/26 | &nbsp;&nbsp; 2455 | 2414763 |
| Berkshire Hathaway Inc., 3.13%, 03/15/26 | &nbsp;&nbsp; 11446 | 11243581 |
| Chubb INA Holdings LLC, 3.35%, 05/03/26 | &nbsp;&nbsp; 7635 | 7501971 |
| CNA Financial Corp., 4.50%, 03/01/26 | &nbsp;&nbsp; 2993 | 2978694 |
| Hanover Insurance Group Inc. (The), 4.50%, <br> 04/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 1919 | 1908993 |
| Lincoln National Corp., 3.63%, 12/12/26 | &nbsp;&nbsp; 1305 | 1274142 |
| Loews Corp., 3.75%, 04/01/26 | &nbsp;&nbsp; 2871 | 2836429 |
| Manulife Financial Corp., 4.15%, 03/04/26 | &nbsp;&nbsp; 5238 | 5195575 |
| Marsh & McLennan Companies Inc., 3.75%, <br> 03/14/26<br>| &nbsp;&nbsp; 3503 | 3464180 |
| Munich Re America Corp., Series B, 7.45%, <br> 12/15/26<br>| &nbsp;&nbsp; 240 | 252899 |
| Old Republic International Corp., 3.88%, 08/26/26 | &nbsp;&nbsp; 2917 | 2867965 |
| Principal Financial Group Inc., 3.10%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1622 | 1572177 |
| Prudential Financial Inc., 1.50%, 03/10/26 | &nbsp;&nbsp; 3030 | 2908988 |
| Reinsurance Group of America Inc., 3.95%, <br> 09/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 1985 | 1956101 |
| Trinity Acquisition PLC, 4.40%, 03/15/26 | &nbsp;&nbsp; 2749 | 2729420 |
|  |  | 57438941 |
| **Internet — 1.5%** | **Internet — 1.5%** | **Internet — 1.5%** |
| Alphabet Inc., 2.00%, 08/15/26 | &nbsp;&nbsp; 10089 | 9691376 |
| Amazon.com Inc., 1.00%, 05/12/26 | &nbsp;&nbsp; 13640 | 12977712 |
| Baidu Inc., 1.72%, 04/09/26<sup>(a)</sup> | &nbsp;&nbsp; 2285 | 2188474 |
| Booking Holdings Inc., 3.60%, 06/01/26 | &nbsp;&nbsp; 5666 | 5588212 |
| eBay Inc., 1.40%, 05/10/26 | &nbsp;&nbsp; 3898 | 3709720 |
| Expedia Group Inc., 5.00%, 02/15/26 | &nbsp;&nbsp; 3945 | 3951838 |
| JD.com Inc., 3.88%, 04/29/26<sup>(a)</sup> | &nbsp;&nbsp; 2136 | 2103121 |
| Netflix Inc., 4.38%, 11/15/26<sup>(a)</sup> | &nbsp;&nbsp; 5235 | 5226519 |
|  |  | 45436972 |
| **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** |
| ArcelorMittal SA, 4.55%, 03/11/26 | &nbsp;&nbsp; 2250 | 2238873 |
| Steel Dynamics Inc., 5.00%, 12/15/26 | &nbsp;&nbsp; 2238 | 2234993 |
|  |  | 4473866 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging — 0.6%** | **Lodging — 0.6%** | **Lodging — 0.6%** |
| Hyatt Hotels Corp., 4.85%, 03/15/26 | &nbsp;&nbsp; $2517 | $2518295 |
| Las Vegas Sands Corp., 3.50%, 08/18/26<sup>(a)</sup> | &nbsp;&nbsp; 4220 | 4100922 |
| Marriott International Inc./MD |  |  |
| 5.45%, 09/15/26 | &nbsp;&nbsp; 2180 | 2211480 |
| Series R, 3.13%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4151 | 4053855 |
| Sands China Ltd., 3.80%, 01/08/26 | &nbsp;&nbsp; 3485 | 3417719 |
|  |  | 16302271 |
| **Machinery — 2.0%** | **Machinery — 2.0%** | **Machinery — 2.0%** |
| Caterpillar Financial Services Corp. |  |  |
| 0.90%, 03/02/26 | &nbsp;&nbsp; 3588 | 3428194 |
| 1.15%, 09/14/26<sup>(a)</sup> | &nbsp;&nbsp; 1822 | 1718932 |
| 2.40%, 08/09/26<sup>(a)</sup> | &nbsp;&nbsp; 1580 | 1525807 |
| 4.35%, 05/15/26 | &nbsp;&nbsp; 6320 | 6321183 |
| 4.45%, 10/16/26 | &nbsp;&nbsp; 2260 | 2262142 |
| 4.80%, 01/06/26 | &nbsp;&nbsp; 2955 | 2967209 |
| 5.05%, 02/27/26<sup>(a)</sup> | &nbsp;&nbsp; 3470 | 3499526 |
| CNH Industrial Capital LLC |  |  |
| 1.45%, 07/15/26 | &nbsp;&nbsp; 3080 | 2910630 |
| 1.88%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2468 | 2383400 |
| John Deere Capital Corp. |  |  |
| 0.70%, 01/15/26 | &nbsp;&nbsp; 4233 | 4048160 |
| 1.05%, 06/17/26<sup>(a)</sup> | &nbsp;&nbsp; 2232 | 2115212 |
| 1.30%, 10/13/26<sup>(a)</sup> | &nbsp;&nbsp; 1810 | 1707523 |
| 2.25%, 09/14/26<sup>(a)</sup> | &nbsp;&nbsp; 1876 | 1805058 |
| 2.65%, 06/10/26<sup>(a)</sup> | &nbsp;&nbsp; 1874 | 1823687 |
| 4.75%, 06/08/26 | &nbsp;&nbsp; 2290 | 2301731 |
| 4.80%, 01/09/26 | &nbsp;&nbsp; 5405 | 5429176 |
| 4.95%, 03/06/26 | &nbsp;&nbsp; 2250 | 2263684 |
| 5.05%, 03/03/26 | &nbsp;&nbsp; 2625 | 2645336 |
| 5.15%, 09/08/26 | &nbsp;&nbsp; 2800 | 2841228 |
| Westinghouse Air Brake Technologies Corp., <br> 3.45%, 11/15/26<br>| &nbsp;&nbsp; 3624 | 3533585 |
| Xylem Inc./New York, 3.25%, 11/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2480 | 2414628 |
|  |  | 59946031 |
| **Manufacturing — 0.4%** | **Manufacturing — 0.4%** | **Manufacturing — 0.4%** |
| 3M Co., 2.25%, 09/19/26<sup>(a)</sup> | &nbsp;&nbsp; 3116 | 2982312 |
| Illinois Tool Works Inc., 2.65%, 11/15/26 | &nbsp;&nbsp; 5354 | 5178255 |
| Teledyne Technologies Inc., 1.60%, 04/01/26 | &nbsp;&nbsp; 2108 | 2015126 |
| Textron Inc., 4.00%, 03/15/26 | &nbsp;&nbsp; 1790 | 1769497 |
|  |  | 11945190 |
| **Media — 1.5%** | **Media — 1.5%** | **Media — 1.5%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital, 6.15%, <br> 11/10/26<br>| &nbsp;&nbsp; 5395 | 5507504 |
| Comcast Corp., 3.15%, 03/01/26 | &nbsp;&nbsp; 11011 | 10807989 |
| Discovery Communications LLC, 4.90%, 03/11/26 | &nbsp;&nbsp; 3357 | 3337588 |
| Paramount Global, 4.00%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 65 | 63945 |
| TCI Communications Inc., 7.88%, 02/15/26 | &nbsp;&nbsp; 2294 | 2382974 |
| Thomson Reuters Corp., 3.35%, 05/15/26 | &nbsp;&nbsp; 2569 | 2516785 |
| TWDC Enterprises 18 Corp. |  |  |
| 1.85%, 07/30/26<sup>(a)</sup> | &nbsp;&nbsp; 4621 | 4418419 |
| 3.00%, 02/13/26<sup>(a)</sup> | &nbsp;&nbsp; 4931 | 4835920 |
| Walt Disney Co. (The) |  |  |
| 1.75%, 01/13/26 | &nbsp;&nbsp; 7002 | 6773804 |
| 3.38%, 11/15/26 | &nbsp;&nbsp; 1954 | 1914506 |
|  |  | 42559434 |
| **Mining — 0.5%** | **Mining — 0.5%** | **Mining — 0.5%** |
| BHP Billiton Finance USA Ltd. |  |  |
| 4.88%, 02/27/26<sup>(a)</sup> | &nbsp;&nbsp; 4905 | 4923556 |
| 5.25%, 09/08/26 | &nbsp;&nbsp; 4235 | 4284336 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| 6.42%, 03/01/26 | &nbsp;&nbsp; $1520 | $1552839 |
| Newmont Corp./Newcrest Finance Pty. Ltd., <br> 5.30%, 03/15/26<br>| &nbsp;&nbsp; 3575 | 3606128 |
|  |  | 14366859 |
| **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** |
| CDW LLC/CDW Finance Corp., 2.67%, 12/01/26 | &nbsp;&nbsp; 4790 | 4572864 |
| **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** |
| BP Capital Markets America Inc. |  |  |
| 3.12%, 05/04/26 | &nbsp;&nbsp; 5145 | 5039080 |
| 3.41%, 02/11/26<sup>(a)</sup> | &nbsp;&nbsp; 5366 | 5294610 |
| Chevron Corp., 2.95%, 05/16/26 | &nbsp;&nbsp; 11143 | 10905226 |
| Diamondback Energy Inc., 3.25%, 12/01/26 | &nbsp;&nbsp; 3723 | 3614348 |
| EOG Resources Inc., 4.15%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4071 | 4045749 |
| Exxon Mobil Corp. |  |  |
| 2.28%, 08/16/26 | &nbsp;&nbsp; 4930 | 4753892 |
| 3.04%, 03/01/26 | &nbsp;&nbsp; 11930 | 11713616 |
| HF Sinclair Corp., 5.88%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 4218 | 4254312 |
| Marathon Petroleum Corp., 5.13%, 12/15/26 | &nbsp;&nbsp; 3630 | 3652161 |
| Occidental Petroleum Corp., 5.55%, 03/15/26 | &nbsp;&nbsp; 4210 | 4235310 |
| Ovintiv Inc., 5.38%, 01/01/26 | &nbsp;&nbsp; 2650 | 2653384 |
| Phillips 66, 1.30%, 02/15/26 | &nbsp;&nbsp; 2681 | 2569050 |
| Phillips 66 Co., 3.55%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2273 | 2226003 |
| Pioneer Natural Resources Co. |  |  |
| 1.13%, 01/15/26 | &nbsp;&nbsp; 1074 | 1031437 |
| 5.10%, 03/29/26 | &nbsp;&nbsp; 2745 | 2765986 |
| Shell International Finance BV |  |  |
| 2.50%, 09/12/26<sup>(a)</sup> | &nbsp;&nbsp; 5283 | 5098053 |
| 2.88%, 05/10/26<sup>(a)</sup> | &nbsp;&nbsp; 8929 | 8719511 |
| Valero Energy Corp., 3.40%, 09/15/26 | &nbsp;&nbsp; 1915 | 1865621 |
|  |  | 84437349 |
| **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc., 2.06%, 12/15/26<br>| &nbsp;&nbsp; 3053 | 2904287 |
| **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** |
| Amcor Finance USA Inc., 3.63%, 04/28/26 | &nbsp;&nbsp; 2560 | 2513515 |
| Berry Global Inc., 1.57%, 01/15/26 | &nbsp;&nbsp; 7429 | 7130506 |
| Sonoco Products Co., 4.45%, 09/01/26 | &nbsp;&nbsp; 985 | 978559 |
| WRKCo Inc., 4.65%, 03/15/26 | &nbsp;&nbsp; 3826 | 3808946 |
|  |  | 14431526 |
| **Pharmaceuticals — 4.5%** | **Pharmaceuticals — 4.5%** | **Pharmaceuticals — 4.5%** |
| AbbVie Inc. |  |  |
| 2.95%, 11/21/26 | &nbsp;&nbsp; 17994 | 17449002 |
| 3.20%, 05/14/26<sup>(a)</sup> | &nbsp;&nbsp; 9003 | 8830867 |
| Astrazeneca Finance LLC, 1.20%, 05/28/26 | &nbsp;&nbsp; 6296 | 5992232 |
| AstraZeneca PLC, 0.70%, 04/08/26 | &nbsp;&nbsp; 6122 | 5807026 |
| Bristol-Myers Squibb Co. |  |  |
| 3.20%, 06/15/26 | &nbsp;&nbsp; 8433 | 8269973 |
| 4.95%, 02/20/26<sup>(a)</sup> | &nbsp;&nbsp; 4855 | 4886220 |
| CVS Health Corp. |  |  |
| 2.88%, 06/01/26<sup>(a)</sup> | &nbsp;&nbsp; 8318 | 8059364 |
| 3.00%, 08/15/26 | &nbsp;&nbsp; 3834 | 3710057 |
| 5.00%, 02/20/26 | &nbsp;&nbsp; 7158 | 7162012 |
| Johnson & Johnson, 2.45%, 03/01/26 | &nbsp;&nbsp; 9753 | 9509842 |
| McKesson Corp., 1.30%, 08/15/26 | &nbsp;&nbsp; 2815 | 2661507 |
| Merck & Co. Inc., 0.75%, 02/24/26 | &nbsp;&nbsp; 6066 | 5793024 |
| Pfizer Inc. |  |  |
| 2.75%, 06/03/26 | &nbsp;&nbsp; 5451 | 5313366 |
| 3.00%, 12/15/26 | &nbsp;&nbsp; 8389 | 8145804 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Pfizer Investment Enterprises Pte Ltd., 4.45%, <br> 05/19/26<br>| &nbsp;&nbsp; $13833 | $13813482 |
| Shire Acquisitions Investments Ireland DAC, <br> 3.20%, 09/23/26<br>| &nbsp;&nbsp; 7508 | 7332145 |
| Utah Acquisition Sub Inc., 3.95%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8041 | 7908348 |
|  |  | 130644271 |
| **Pipelines — 2.9%** | **Pipelines — 2.9%** | **Pipelines — 2.9%** |
| Boardwalk Pipelines LP, 5.95%, 06/01/26 | &nbsp;&nbsp; 2940 | 2972147 |
| Enbridge Inc. |  |  |
| 1.60%, 10/04/26 | &nbsp;&nbsp; 1870 | 1762719 |
| 4.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3110 | 3080498 |
| 5.90%, 11/15/26 | &nbsp;&nbsp; 3470 | 3546419 |
| Energy Transfer LP |  |  |
| 3.90%, 07/15/26 | &nbsp;&nbsp; 2673 | 2634476 |
| 4.75%, 01/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4908 | 4900674 |
| 6.05%, 12/01/26 | &nbsp;&nbsp; 5030 | 5151356 |
| EnLink Midstream Partners LP, 4.85%, 07/15/26 | &nbsp;&nbsp; 1960 | 1951523 |
| Enterprise Products Operating LLC |  |  |
| 3.70%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4290 | 4248833 |
| 5.05%, 01/10/26 | &nbsp;&nbsp; 3775 | 3795524 |
| Kinder Morgan Inc., 1.75%, 11/15/26 | &nbsp;&nbsp; 2538 | 2395102 |
| MPLX LP, 1.75%, 03/01/26 | &nbsp;&nbsp; 7460 | 7163253 |
| ONEOK Inc. |  |  |
| 5.00%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3109 | 3110202 |
| 5.55%, 11/01/26 | &nbsp;&nbsp; 3595 | 3643286 |
| 5.85%, 01/15/26 | &nbsp;&nbsp; 2281 | 2303290 |
| Plains All American Pipeline LP/PAA Finance <br> Corp., 4.50%, 12/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3781 | 3762942 |
| Sabine Pass Liquefaction LLC, 5.88%, 06/30/26 | &nbsp;&nbsp; 7572 | 7656488 |
| Spectra Energy Partners LP, 3.38%, 10/15/26 | &nbsp;&nbsp; 2248 | 2188216 |
| TransCanada PipeLines Ltd., 4.88%, 01/15/26 | &nbsp;&nbsp; 4496 | 4489429 |
| Transcontinental Gas Pipe Line Co. LLC, 7.85%, <br> 02/01/26<br>| &nbsp;&nbsp; 5890 | 6059350 |
| Western Midstream Operating LP, 4.65%, <br> 07/01/26<br>| &nbsp;&nbsp; 2180 | 2161602 |
| Williams Companies Inc. (The), 5.40%, 03/02/26<sup>(a)</sup> | &nbsp;&nbsp; 4710 | 4741152 |
|  |  | 83718481 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| CBRE Services Inc., 4.88%, 03/01/26 | &nbsp;&nbsp; 3664 | 3659688 |
| **Real Estate Investment Trusts — 4.6%** | **Real Estate Investment Trusts — 4.6%** | **Real Estate Investment Trusts — 4.6%** |
| Alexandria Real Estate Equities Inc. |  |  |
| 3.80%, 04/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1840 | 1811719 |
| 4.30%, 01/15/26 | &nbsp;&nbsp; 1380 | 1369983 |
| American Tower Corp. |  |  |
| 1.45%, 09/15/26 | &nbsp;&nbsp; 2800 | 2637262 |
| 1.60%, 04/15/26 | &nbsp;&nbsp; 3285 | 3136728 |
| 3.38%, 10/15/26 | &nbsp;&nbsp; 4742 | 4626051 |
| 4.40%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2852 | 2837809 |
| AvalonBay Communities Inc. |  |  |
| 2.90%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1246 | 1206168 |
| 2.95%, 05/11/26 | &nbsp;&nbsp; 2605 | 2540363 |
| Boston Properties LP |  |  |
| 2.75%, 10/01/26 | &nbsp;&nbsp; 4914 | 4707352 |
| 3.65%, 02/01/26 | &nbsp;&nbsp; 5018 | 4923796 |
| Brixmor Operating Partnership LP, 4.13%, <br> 06/15/26<br>| &nbsp;&nbsp; 3010 | 2969817 |
| Camden Property Trust, 5.85%, 11/03/26<sup>(a)</sup> | &nbsp;&nbsp; 1775 | 1818000 |
| COPT Defense Properties LP, 2.25%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2118 | 2037136 |
| Crown Castle Inc. |  |  |
| 1.05%, 07/15/26 | &nbsp;&nbsp; 4873 | 4574807 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 3.70%, 06/15/26 | &nbsp;&nbsp; $3702 | $3635288 |
| 4.45%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4488 | 4465751 |
| CubeSmart LP, 3.13%, 09/01/26 | &nbsp;&nbsp; 1314 | 1274395 |
| EPR Properties, 4.75%, 12/15/26 | &nbsp;&nbsp; 1718 | 1701937 |
| Equinix Inc. |  |  |
| 1.45%, 05/15/26 | &nbsp;&nbsp; 3419 | 3258685 |
| 2.90%, 11/18/26 | &nbsp;&nbsp; 2982 | 2880919 |
| ERP Operating LP, 2.85%, 11/01/26 | &nbsp;&nbsp; 2533 | 2452117 |
| Essex Portfolio LP, 3.38%, 04/15/26 | &nbsp;&nbsp; 2027 | 1983026 |
| Extra Space Storage LP, 3.50%, 07/01/26 | &nbsp;&nbsp; 2867 | 2809361 |
| Federal Realty OP LP, 1.25%, 02/15/26 | &nbsp;&nbsp; 2186 | 2084897 |
| GLP Capital LP/GLP Financing II Inc., 5.38%, <br> 04/15/26<br>| &nbsp;&nbsp; 5025 | 5026977 |
| Healthcare Realty Holdings LP, 3.50%, 08/01/26 | &nbsp;&nbsp; 2942 | 2872754 |
| Healthpeak OP LLC, 3.25%, 07/15/26 | &nbsp;&nbsp; 3372 | 3296334 |
| Host Hotels & Resorts LP, Series F, 4.50%, <br> 02/01/26<br>| &nbsp;&nbsp; 2335 | 2318381 |
| Kimco Realty OP LLC, 2.80%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 2450 | 2363537 |
| Kite Realty Group LP, 4.00%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1330 | 1304305 |
| Mid-America Apartments LP, 1.10%, 09/15/26 | &nbsp;&nbsp; 1645 | 1541631 |
| NNN REIT Inc., 3.60%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1370 | 1339532 |
| Omega Healthcare Investors Inc., 5.25%, <br> 01/15/26<sup>(a)</sup><br>| &nbsp;&nbsp; 3366 | 3366710 |
| Prologis LP |  |  |
| 3.25%, 06/30/26<sup>(a)</sup> | &nbsp;&nbsp; 2013 | 1973059 |
| 3.25%, 10/01/26 | &nbsp;&nbsp; 1850 | 1809080 |
| Public Storage Operating Co. |  |  |
| 0.88%, 02/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2398 | 2287911 |
| 1.50%, 11/09/26<sup>(a)</sup> | &nbsp;&nbsp; 3335 | 3146598 |
| Realty Income Corp. |  |  |
| 0.75%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1611 | 1525085 |
| 4.13%, 10/15/26 | &nbsp;&nbsp; 2638 | 2615060 |
| 4.88%, 06/01/26 | &nbsp;&nbsp; 3229 | 3237320 |
| 5.05%, 01/13/26 | &nbsp;&nbsp; 585 | 583541 |
| Sabra Health Care LP, 5.13%, 08/15/26 | &nbsp;&nbsp; 2760 | 2759497 |
| Simon Property Group LP |  |  |
| 3.25%, 11/30/26<sup>(a)</sup> | &nbsp;&nbsp; 3785 | 3683083 |
| 3.30%, 01/15/26 | &nbsp;&nbsp; 4207 | 4140414 |
| Tanger Properties LP, 3.13%, 09/01/26 | &nbsp;&nbsp; 1634 | 1573199 |
| UDR Inc., 2.95%, 09/01/26 | &nbsp;&nbsp; 1490 | 1438193 |
| Ventas Realty LP |  |  |
| 3.25%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2101 | 2037430 |
| 4.13%, 01/15/26 | &nbsp;&nbsp; 2558 | 2532291 |
| Welltower OP LLC, 4.25%, 04/01/26 | &nbsp;&nbsp; 3656 | 3631743 |
| Weyerhaeuser Co., 4.75%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3610 | 3608411 |
| WP Carey Inc., 4.25%, 10/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1973 | 1950192 |
|  |  | 135705635 |
| **Retail — 2.8%** | **Retail — 2.8%** | **Retail — 2.8%** |
| AutoZone Inc. |  |  |
| 3.13%, 04/21/26 | &nbsp;&nbsp; 2125 | 2075047 |
| 5.05%, 07/15/26 | &nbsp;&nbsp; 2312 | 2329014 |
| Home Depot Inc. (The) |  |  |
| 2.13%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 4598 | 4413097 |
| 3.00%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 5877 | 5760179 |
| 4.95%, 09/30/26<sup>(a)</sup> | &nbsp;&nbsp; 3655 | 3692290 |
| 5.15%, 06/25/26 | &nbsp;&nbsp; 6675 | 6754477 |
| Lowe's Companies Inc. |  |  |
| 2.50%, 04/15/26 | &nbsp;&nbsp; 7041 | 6845264 |
| 4.80%, 04/01/26 | &nbsp;&nbsp; 5050 | 5061304 |
| McDonald's Corp., 3.70%, 01/30/26<sup>(a)</sup> | &nbsp;&nbsp; 9421 | 9322052 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| O'Reilly Automotive Inc. |  |  |
| 3.55%, 03/15/26<sup>(a)</sup> | &nbsp;&nbsp; $2437 | $2397982 |
| 5.75%, 11/20/26 | &nbsp;&nbsp; 3600 | 3672274 |
| Ross Stores Inc., 0.88%, 04/15/26 | &nbsp;&nbsp; 2902 | 2747867 |
| Starbucks Corp. |  |  |
| 2.45%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp; 2394 | 2317326 |
| 4.75%, 02/15/26 | &nbsp;&nbsp; 5030 | 5037613 |
| Target Corp., 2.50%, 04/15/26 | &nbsp;&nbsp; 5009 | 4898770 |
| TJX Companies Inc. (The), 2.25%, 09/15/26 | &nbsp;&nbsp; 5859 | 5639055 |
| Walmart Inc. |  |  |
| 3.05%, 07/08/26 | &nbsp;&nbsp; 3825 | 3746957 |
| 4.00%, 04/15/26 | &nbsp;&nbsp; 4205 | 4184485 |
|  |  | 80895053 |
| **Semiconductors — 1.7%** | **Semiconductors — 1.7%** | **Semiconductors — 1.7%** |
| Analog Devices Inc., 3.50%, 12/05/26 | &nbsp;&nbsp; 4313 | 4231683 |
| Broadcom Inc., 3.46%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3886 | 3806237 |
| Intel Corp. |  |  |
| 2.60%, 05/19/26<sup>(a)</sup> | &nbsp;&nbsp; 4981 | 4811617 |
| 4.88%, 02/10/26 | &nbsp;&nbsp; 7500 | 7498082 |
| Lam Research Corp., 3.75%, 03/15/26 | &nbsp;&nbsp; 4190 | 4146268 |
| Marvell Technology Inc., 1.65%, 04/15/26 | &nbsp;&nbsp; 2120 | 2022941 |
| Micron Technology Inc., 4.98%, 02/06/26 | &nbsp;&nbsp; 2500 | 2506869 |
| NVIDIA Corp., 3.20%, 09/16/26 | &nbsp;&nbsp; 5048 | 4943637 |
| NXP BV/NXP Funding LLC, 5.35%, 03/01/26 | &nbsp;&nbsp; 2570 | 2585486 |
| NXP BV/NXP Funding LLC/NXP USA Inc., 3.88%, <br> 06/18/26<br>| &nbsp;&nbsp; 3789 | 3741233 |
| Skyworks Solutions Inc., 1.80%, 06/01/26 | &nbsp;&nbsp; 2618 | 2490814 |
| Texas Instruments Inc., 1.13%, 09/15/26 | &nbsp;&nbsp; 2595 | 2445747 |
| TSMC Arizona Corp., 1.75%, 10/25/26 | &nbsp;&nbsp; 6090 | 5751627 |
|  |  | 50982241 |
| **Software — 3.0%** | **Software — 3.0%** | **Software — 3.0%** |
| Broadridge Financial Solutions Inc., 3.40%, <br> 06/27/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2387 | 2334049 |
| Concentrix Corp., 6.65%, 08/02/26 | &nbsp;&nbsp; 4020 | 4096403 |
| Electronic Arts Inc., 4.80%, 03/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1690 | 1689593 |
| Fidelity National Information Services Inc., 1.15%, <br> 03/01/26<br>| &nbsp;&nbsp; 6286 | 5993284 |
| Fiserv Inc., 3.20%, 07/01/26 | &nbsp;&nbsp; 9400 | 9176945 |
| Intuit Inc., 5.25%, 09/15/26 | &nbsp;&nbsp; 3725 | 3777499 |
| Microsoft Corp. |  |  |
| 2.40%, 08/08/26 | &nbsp;&nbsp; 18602 | 18006172 |
| 3.40%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3662 | 3603536 |
| Oracle Corp. |  |  |
| 1.65%, 03/25/26 | &nbsp;&nbsp; 13243 | 12689171 |
| 2.65%, 07/15/26 | &nbsp;&nbsp; 14396 | 13924351 |
| Roper Technologies Inc., 3.80%, 12/15/26<sup>(a)</sup> | &nbsp;&nbsp; 3470 | 3418602 |
| Take-Two Interactive Software Inc., 5.00%, <br> 03/28/26<sup>(a)</sup><br>| &nbsp;&nbsp; 2605 | 2614389 |
| VMware LLC, 1.40%, 08/15/26 | &nbsp;&nbsp; 7585 | 7150375 |
|  |  | 88474369 |
| **Telecommunications — 2.6%** | **Telecommunications — 2.6%** | **Telecommunications — 2.6%** |
| AT&T Inc. |  |  |
| 1.70%, 03/25/26 | &nbsp;&nbsp; 14245 | 13668976 |
| 2.95%, 07/15/26 | &nbsp;&nbsp; 1426 | 1386619 |
| 3.88%, 01/15/26 | &nbsp;&nbsp; 1666 | 1649609 |
| 5.54%, 02/20/26 | &nbsp;&nbsp; 1075 | 1075315 |
| Cisco Systems Inc. |  |  |
| 2.50%, 09/20/26<sup>(a)</sup> | &nbsp;&nbsp; 7040 | 6815054 |
| 2.95%, 02/28/26<sup>(a)</sup> | &nbsp;&nbsp; 3661 | 3592020 |
| 4.90%, 02/26/26 | &nbsp;&nbsp; 4845 | 4877627 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Rogers Communications Inc., 2.90%, 11/15/26 | &nbsp;&nbsp; $2236 | $2153745 |
| Sprint LLC, 7.63%, 03/01/26 | &nbsp;&nbsp; 7770 | 7973711 |
| T-Mobile USA Inc. |  |  |
| 1.50%, 02/15/26 | &nbsp;&nbsp; 4831 | 4637642 |
| 2.25%, 02/15/26 | &nbsp;&nbsp; 8605 | 8335503 |
| 2.63%, 04/15/26 | &nbsp;&nbsp; 5765 | 5589350 |
| Verizon Communications Inc. |  |  |
| 1.45%, 03/20/26<sup>(a)</sup> | &nbsp;&nbsp; 7865 | 7534032 |
| 2.63%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp; 8475 | 8190509 |
|  |  | 77479712 |
| **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** |
| Hasbro Inc., 3.55%, 11/19/26 | &nbsp;&nbsp; 3494 | 3403655 |
| **Transportation — 1.3%** | **Transportation — 1.3%** | **Transportation — 1.3%** |
| Canadian National Railway Co., 2.75%, 03/01/26 | &nbsp;&nbsp; 2684 | 2621382 |
| Canadian Pacific Railway Co., 1.75%, 12/02/26<sup>(a)</sup> | &nbsp;&nbsp; 4970 | 4690066 |
| CSX Corp., 2.60%, 11/01/26 | &nbsp;&nbsp; 3351 | 3232099 |
| FedEx Corp., 3.25%, 04/01/26<sup>(a)</sup> | &nbsp;&nbsp; 3837 | 3761828 |
| JB Hunt Transport Services Inc., 3.88%, 03/01/26 | &nbsp;&nbsp; 3541 | 3498856 |
| Norfolk Southern Corp., 2.90%, 06/15/26 | &nbsp;&nbsp; 3170 | 3085307 |
| Ryder System Inc. |  |  |
| 1.75%, 09/01/26 | &nbsp;&nbsp; 1520 | 1438710 |
| 2.90%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp; 1958 | 1887580 |
| Union Pacific Corp. |  |  |
| 2.75%, 03/01/26 | &nbsp;&nbsp; 3215 | 3140509 |
| 4.75%, 02/21/26 | &nbsp;&nbsp; 2815 | 2822320 |
| United Parcel Service Inc., 2.40%, 11/15/26 | &nbsp;&nbsp; 2472 | 2374241 |
| Walmart Inc., 1.05%, 09/17/26 | &nbsp;&nbsp; 5910 | 5569650 |
|  |  | 38122548 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| GATX Corp., 3.25%, 09/15/26<sup>(a)</sup> | &nbsp;&nbsp; 1798 | 1751645 |
| **Venture Capital — 0.0%** | **Venture Capital — 0.0%** | **Venture Capital — 0.0%** |
| Hercules Capital Inc., 2.63%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp; 1336 | 1264826 |
| **Total Long-Term Investments — 98.2%** <br>**(Cost: $2,889,509,375)** | **Total Long-Term Investments — 98.2%** <br>**(Cost: $2,889,509,375)** | 2875124111 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 5.1%** | **Money Market Funds — 5.1%** | **Money Market Funds — 5.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 118787107 | 118870258 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 30210000 | 30210000 |
| **Total Short-Term Securities — 5.1%** <br>**(Cost: $149,022,354)** | **Total Short-Term Securities — 5.1%** <br>**(Cost: $149,022,354)** | 149080258 |
| **Total Investments — 103.3%** <br>**(Cost: $3,038,531,729)** | **Total Investments — 103.3%** <br>**(Cost: $3,038,531,729)** | 3024204369 |
| **Liabilities in Excess of Other Assets — (3.3)%** | **Liabilities in Excess of Other Assets — (3.3)%** | (97096766)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2927107603 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2026 Term Corporate ETF**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $53339978<br> $65516264 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(10835)<br>| $24851 | $118870258 | 118787107 | $191738 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 14737000<br> 15473000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 30210000 | 30210000 | 1331382 | &nbsp;&nbsp; — |
|  |  |  | $(10835)<br>| $24851 | $149080258 |  | $1523120 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2875124111 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2875124111 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 149080258 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 149080258 |
|  | &nbsp;&nbsp; $149080258 | &nbsp;&nbsp; $2875124111 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3024204369 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Aerospace & Defense — 2.3%** | **Aerospace & Defense — 2.3%** | **Aerospace & Defense — 2.3%** |
| Boeing Co. (The) |  |  |
| 2.70%, 02/01/27 | &nbsp;&nbsp; $4941 | $4662552 |
| 2.80%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1561 | 1473101 |
| 5.04%, 05/01/27 | &nbsp;&nbsp; 9600 | 9562047 |
| 6.26%, 05/01/27<sup>(b)</sup> | &nbsp;&nbsp; 4880 | 4992342 |
| Embraer Netherlands Finance BV, 5.40%, <br> 02/01/27<br>| &nbsp;&nbsp; 920 | 930054 |
| General Dynamics Corp. |  |  |
| 2.63%, 11/15/27 | &nbsp;&nbsp; 2136 | 2025593 |
| 3.50%, 04/01/27 | &nbsp;&nbsp; 3702 | 3620602 |
| Hexcel Corp., 4.20%, 02/15/27 | &nbsp;&nbsp; 2180 | 2126070 |
| Howmet Aerospace Inc., 5.90%, 02/01/27 | &nbsp;&nbsp; 2710 | 2775044 |
| L3Harris Technologies Inc., 5.40%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6670 | 6773829 |
| Lockheed Martin Corp., 5.10%, 11/15/27 | &nbsp;&nbsp; 4250 | 4324639 |
| Northrop Grumman Corp., 3.20%, 02/01/27 | &nbsp;&nbsp; 3634 | 3528014 |
| RTX Corp. |  |  |
| 3.13%, 05/04/27 | &nbsp;&nbsp; 5821 | 5611214 |
| 3.50%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5995 | 5841480 |
| 7.20%, 08/15/27 | &nbsp;&nbsp; 1198 | 1280195 |
|  |  | 59526776 |
| **Agriculture — 1.3%** | **Agriculture — 1.3%** | **Agriculture — 1.3%** |
| BAT Capital Corp. |  |  |
| 3.56%, 08/15/27 | &nbsp;&nbsp; 11087 | 10745442 |
| 4.70%, 04/02/27 | &nbsp;&nbsp; 4604 | 4593590 |
| Bunge Ltd. Finance Corp., 3.75%, 09/25/27 | &nbsp;&nbsp; 2862 | 2798661 |
| Philip Morris International Inc. |  |  |
| 3.13%, 08/17/27<sup>(a)</sup> | &nbsp;&nbsp; 2278 | 2200164 |
| 4.38%, 11/01/27 | &nbsp;&nbsp; 3025 | 3005716 |
| 4.75%, 02/12/27<sup>(a)</sup> | &nbsp;&nbsp; 4015 | 4028533 |
| 5.13%, 11/17/27 | &nbsp;&nbsp; 7040 | 7137582 |
|  |  | 34509688 |
| **Airlines — 0.8%** | **Airlines — 0.8%** | **Airlines — 0.8%** |
| American Airlines Pass-Through Trust |  |  |
| Series 2015-1, Class A, 3.38%, 11/01/28 | &nbsp;&nbsp; 2338 | 2229490 |
| Series 2015-2, Class AA, 3.60%, 03/22/29 | &nbsp;&nbsp; 1267 | 1225948 |
| Southwest Airlines Co. |  |  |
| 3.45%, 11/16/27 | &nbsp;&nbsp; 1530 | 1463286 |
| 5.13%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 9035 | 9095524 |
| United Airlines Pass-Through Trust, Series 2020-1, <br> 5.88%, 04/15/29<br>| &nbsp;&nbsp; 5969 | 6103985 |
|  |  | 20118233 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| NIKE Inc., 2.75%, 03/27/27 | &nbsp;&nbsp; 5518 | 5314021 |
| Tapestry Inc., 4.13%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1894 | 1843743 |
|  |  | 7157764 |
| **Auto Manufacturers — 5.3%** | **Auto Manufacturers — 5.3%** | **Auto Manufacturers — 5.3%** |
| American Honda Finance Corp. |  |  |
| 2.35%, 01/08/27 | &nbsp;&nbsp; 2682 | 2563640 |
| 4.45%, 10/22/27 | &nbsp;&nbsp; 3395 | 3379607 |
| 4.90%, 03/12/27 | &nbsp;&nbsp; 3300 | 3324271 |
| 4.90%, 07/09/27<sup>(a)</sup> | &nbsp;&nbsp; 3270 | 3300263 |
| Ford Motor Credit Co. LLC |  |  |
| 3.82%, 11/02/27 | &nbsp;&nbsp; 3815 | 3640603 |
| 4.13%, 08/17/27<sup>(a)</sup> | &nbsp;&nbsp; 6093 | 5888128 |
| 4.27%, 01/09/27<sup>(a)</sup> | &nbsp;&nbsp; 4355 | 4256577 |
| 4.95%, 05/28/27 | &nbsp;&nbsp; 7247 | 7164198 |
| 5.80%, 03/05/27 | &nbsp;&nbsp; 7230 | 7289771 |
| 5.85%, 05/17/27<sup>(a)</sup> | &nbsp;&nbsp; 7270 | 7338492 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 7.35%, 11/04/27 | &nbsp;&nbsp; $7281 | $7642688 |
| General Motors Co. |  |  |
| 4.20%, 10/01/27 | &nbsp;&nbsp; 3634 | 3564712 |
| 6.80%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4859 | 5094891 |
| General Motors Financial Co. Inc. |  |  |
| 2.35%, 02/26/27 | &nbsp;&nbsp; 4805 | 4539587 |
| 2.70%, 08/20/27 | &nbsp;&nbsp; 4356 | 4103639 |
| 4.35%, 01/17/27 | &nbsp;&nbsp; 6172 | 6102137 |
| 5.00%, 04/09/27<sup>(a)</sup> | &nbsp;&nbsp; 6075 | 6083166 |
| 5.35%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5325 | 5380240 |
| 5.40%, 05/08/27<sup>(a)</sup> | &nbsp;&nbsp; 5830 | 5898783 |
| Honda Motor Co. Ltd., 2.53%, 03/10/27<sup>(a)</sup> | &nbsp;&nbsp; 5220 | 4992388 |
| PACCAR Financial Corp. |  |  |
| 2.00%, 02/04/27 | &nbsp;&nbsp; 1345 | 1274852 |
| 4.45%, 08/06/27<sup>(a)</sup> | &nbsp;&nbsp; 2985 | 2990680 |
| 5.00%, 05/13/27 | &nbsp;&nbsp; 1895 | 1922205 |
| Toyota Motor Credit Corp. |  |  |
| 1.15%, 08/13/27 | &nbsp;&nbsp; 2532 | 2313586 |
| 1.90%, 01/13/27 | &nbsp;&nbsp; 3290 | 3115722 |
| 3.05%, 03/22/27<sup>(a)</sup> | &nbsp;&nbsp; 6675 | 6477199 |
| 3.20%, 01/11/27 | &nbsp;&nbsp; 3072 | 2992943 |
| 4.35%, 10/08/27 | &nbsp;&nbsp; 3230 | 3217400 |
| 4.55%, 09/20/27 | &nbsp;&nbsp; 4880 | 4890414 |
| 5.45%, 11/10/27<sup>(a)</sup> | &nbsp;&nbsp; 3365 | 3453119 |
| Series B, 5.00%, 03/19/27<sup>(a)</sup> | &nbsp;&nbsp; 4415 | 4467615 |
|  |  | 138663516 |
| **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** |
| BorgWarner Inc., 2.65%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5630 | 5341753 |
| Lear Corp., 3.80%, 09/15/27 | &nbsp;&nbsp; 2808 | 2724185 |
|  |  | 8065938 |
| **Banks — 14.6%** | **Banks — 14.6%** | **Banks — 14.6%** |
| Australia & New Zealand Banking Group <br> Ltd./New York<br>|  |  |
| 3.92%, 09/30/27 | &nbsp;&nbsp; 160 | 157712 |
| 4.75%, 01/18/27 | &nbsp;&nbsp; 5705 | 5738988 |
| 4.90%, 07/16/27 | &nbsp;&nbsp; 3710 | 3755132 |
| Banco Santander SA |  |  |
| 4.25%, 04/11/27 | &nbsp;&nbsp; 5020 | 4945380 |
| 5.29%, 08/18/27 | &nbsp;&nbsp; 8693 | 8755296 |
| Bank of America Corp. |  |  |
| 3.25%, 10/21/27 | &nbsp;&nbsp; 12338 | 11903526 |
| Series L, 4.18%, 11/25/27 | &nbsp;&nbsp; 9999 | 9820837 |
| Bank of Montreal |  |  |
| 2.65%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 6263 | 5997337 |
| 5.37%, 06/04/27<sup>(a)</sup> | &nbsp;&nbsp; 3775 | 3859975 |
| Series H, 4.70%, 09/14/27 | &nbsp;&nbsp; 4930 | 4942086 |
| Bank of New York Mellon Corp. (The) |  |  |
| 2.05%, 01/26/27<sup>(a)</sup> | &nbsp;&nbsp; 4240 | 4025298 |
| 3.25%, 05/16/27<sup>(a)</sup> | &nbsp;&nbsp; 3991 | 3871739 |
| Bank of Nova Scotia (The) |  |  |
| 1.95%, 02/02/27 | &nbsp;&nbsp; 3795 | 3580586 |
| 2.95%, 03/11/27 | &nbsp;&nbsp; 3780 | 3641502 |
| 5.40%, 06/04/27<sup>(a)</sup> | &nbsp;&nbsp; 3850 | 3928096 |
| Canadian Imperial Bank of Commerce |  |  |
| 3.45%, 04/07/27 | &nbsp;&nbsp; 5210 | 5069216 |
| 5.24%, 06/28/27 | &nbsp;&nbsp; 6750 | 6847285 |
| Citigroup Inc., 4.45%, 09/29/27 | &nbsp;&nbsp; 18799 | 18545422 |
| Cooperatieve Rabobank UA/New York, 5.04%, <br> 03/05/27<br>| &nbsp;&nbsp; 3190 | 3232646 |
| Deutsche Bank AG/New York, 5.37%, 09/09/27 | &nbsp;&nbsp; 1885 | 1923244 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Fifth Third Bancorp, 2.55%, 05/05/27 | &nbsp;&nbsp; $3654 | $3469009 |
| Fifth Third Bank NA, 2.25%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2859 | 2713147 |
| Goldman Sachs Group Inc. (The) |  |  |
| 3.85%, 01/26/27<sup>(a)</sup> | &nbsp;&nbsp; 14899 | 14609651 |
| 5.95%, 01/15/27 | &nbsp;&nbsp; 4186 | 4293395 |
| HSBC USA Inc., 5.29%, 03/04/27 | &nbsp;&nbsp; 5035 | 5105595 |
| ING Groep NV, 3.95%, 03/29/27 | &nbsp;&nbsp; 7669 | 7514545 |
| JPMorgan Chase & Co. |  |  |
| 1.05%, 06/23/27 | &nbsp;&nbsp; 180 | 165429 |
| 3.63%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5706 | 5513164 |
| 4.25%, 10/01/27 | &nbsp;&nbsp; 7268 | 7206357 |
| 8.00%, 04/29/27 | &nbsp;&nbsp; 2605 | 2810366 |
| KeyBank NA/Cleveland OH |  |  |
| 4.39%, 12/14/27 | &nbsp;&nbsp; 1483 | 1450070 |
| 5.85%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4992 | 5114356 |
| KeyCorp, 2.25%, 04/06/27<sup>(a)</sup> | &nbsp;&nbsp; 3706 | 3479291 |
| Lloyds Banking Group PLC, 3.75%, 01/11/27<sup>(a)</sup> | &nbsp;&nbsp; 6388 | 6254587 |
| Manufacturers & Traders Trust Co., 3.40%, <br> 08/17/27<br>| &nbsp;&nbsp; 2465 | 2363699 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 3.29%, 07/25/27<sup>(a)</sup> | &nbsp;&nbsp; 4430 | 4295091 |
| 3.68%, 02/22/27 | &nbsp;&nbsp; 4991 | 4898337 |
| Mizuho Financial Group Inc. |  |  |
| 3.17%, 09/11/27<sup>(a)</sup> | &nbsp;&nbsp; 5041 | 4835243 |
| 3.66%, 02/28/27<sup>(a)</sup> | &nbsp;&nbsp; 3000 | 2928124 |
| Morgan Stanley |  |  |
| 3.63%, 01/20/27 | &nbsp;&nbsp; 14913 | 14635174 |
| 3.95%, 04/23/27 | &nbsp;&nbsp; 9805 | 9627027 |
| National Australia Bank Ltd./New York |  |  |
| 3.91%, 06/09/27<sup>(a)</sup> | &nbsp;&nbsp; 6220 | 6131526 |
| 5.09%, 06/11/27<sup>(a)</sup> | &nbsp;&nbsp; 4525 | 4594959 |
| Northern Trust Corp., 4.00%, 05/10/27 | &nbsp;&nbsp; 5128 | 5079354 |
| PNC Bank NA, 3.10%, 10/25/27 | &nbsp;&nbsp; 4830 | 4634653 |
| PNC Financial Services Group Inc. (The), 3.15%, <br> 05/19/27<br>| &nbsp;&nbsp; 3919 | 3778832 |
| Royal Bank of Canada |  |  |
| 2.05%, 01/21/27 | &nbsp;&nbsp; 1647 | 1562599 |
| 3.63%, 05/04/27 | &nbsp;&nbsp; 5776 | 5648791 |
| 4.24%, 08/03/27 | &nbsp;&nbsp; 6832 | 6781472 |
| 4.88%, 01/19/27 | &nbsp;&nbsp; 4975 | 5015972 |
| 6.00%, 11/01/27 | &nbsp;&nbsp; 7105 | 7381776 |
| Santander Holdings USA Inc., 4.40%, 07/13/27 | &nbsp;&nbsp; 5352 | 5273890 |
| State Street Corp. |  |  |
| 4.33%, 10/22/27<sup>(a)</sup> | &nbsp;&nbsp; 125 | 124308 |
| 4.99%, 03/18/27<sup>(a)</sup> | &nbsp;&nbsp; 4614 | 4657033 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 2.17%, 01/14/27 | &nbsp;&nbsp; 2800 | 2652721 |
| 3.35%, 10/18/27 | &nbsp;&nbsp; 4044 | 3896179 |
| 3.36%, 07/12/27<sup>(a)</sup> | &nbsp;&nbsp; 7990 | 7745425 |
| 3.45%, 01/11/27 | &nbsp;&nbsp; 5677 | 5536601 |
| Synchrony Bank, 5.63%, 08/23/27 | &nbsp;&nbsp; 2995 | 3017797 |
| Toronto-Dominion Bank (The) |  |  |
| 1.95%, 01/12/27 | &nbsp;&nbsp; 3795 | 3583014 |
| 2.80%, 03/10/27 | &nbsp;&nbsp; 5435 | 5213172 |
| 4.11%, 06/08/27 | &nbsp;&nbsp; 7395 | 7293107 |
| 4.69%, 09/15/27 | &nbsp;&nbsp; 7376 | 7363990 |
| 4.98%, 04/05/27<sup>(a)</sup> | &nbsp;&nbsp; 4235 | 4264954 |
| Truist Financial Corp., 1.13%, 08/03/27<sup>(a)</sup> | &nbsp;&nbsp; 3965 | 3597939 |
| U.S. Bancorp, Series X, 3.15%, 04/27/27 | &nbsp;&nbsp; 6513 | 6306314 |
| UBS AG/Stamford CT, 5.00%, 07/09/27<sup>(a)</sup> | &nbsp;&nbsp; 6115 | 6166391 |
| Wells Fargo & Co., 4.30%, 07/22/27 | &nbsp;&nbsp; 12135 | 11969572 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Westpac Banking Corp. |  |  |
| 3.35%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; $5212 | $5085601 |
| 4.04%, 08/26/27 | &nbsp;&nbsp; 4190 | 4145181 |
| 5.46%, 11/18/27 | &nbsp;&nbsp; 6509 | 6683114 |
|  |  | 383009197 |
| **Beverages — 1.5%** | **Beverages — 1.5%** | **Beverages — 1.5%** |
| Coca-Cola Co. (The) |  |  |
| 1.45%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 7283 | 6800688 |
| 2.90%, 05/25/27<sup>(a)</sup> | &nbsp;&nbsp; 2506 | 2422896 |
| 3.38%, 03/25/27 | &nbsp;&nbsp; 5029 | 4925964 |
| Constellation Brands Inc. |  |  |
| 3.50%, 05/09/27 | &nbsp;&nbsp; 2775 | 2694070 |
| 4.35%, 05/09/27 | &nbsp;&nbsp; 3040 | 3011730 |
| Diageo Capital PLC, 5.30%, 10/24/27 | &nbsp;&nbsp; 3545 | 3630868 |
| Keurig Dr Pepper Inc. |  |  |
| 3.43%, 06/15/27 | &nbsp;&nbsp; 1955 | 1895895 |
| 5.10%, 03/15/27 | &nbsp;&nbsp; 2580 | 2607175 |
| PepsiCo Inc. |  |  |
| 2.63%, 03/19/27 | &nbsp;&nbsp; 2447 | 2350196 |
| 3.00%, 10/15/27 | &nbsp;&nbsp; 7445 | 7182481 |
| Pepsico Singapore Financing I Pte Ltd., 4.65%, <br> 02/16/27<br>| &nbsp;&nbsp; 2585 | 2599808 |
|  |  | 40121771 |
| **Biotechnology — 1.2%** | **Biotechnology — 1.2%** | **Biotechnology — 1.2%** |
| Amgen Inc. |  |  |
| 2.20%, 02/21/27 | &nbsp;&nbsp; 8436 | 8008893 |
| 3.20%, 11/02/27 | &nbsp;&nbsp; 5111 | 4915625 |
| Bio-Rad Laboratories Inc., 3.30%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2019 | 1956294 |
| Gilead Sciences Inc. |  |  |
| 1.20%, 10/01/27 | &nbsp;&nbsp; 3717 | 3385357 |
| 2.95%, 03/01/27 | &nbsp;&nbsp; 6293 | 6073183 |
| Illumina Inc., 5.75%, 12/13/27 | &nbsp;&nbsp; 2591 | 2659376 |
| Royalty Pharma PLC, 1.75%, 09/02/27 | &nbsp;&nbsp; 4878 | 4494338 |
|  |  | 31493066 |
| **Building Materials — 0.6%** | **Building Materials — 0.6%** | **Building Materials — 0.6%** |
| Carrier Global Corp., 2.49%, 02/15/27 | &nbsp;&nbsp; 4724 | 4516863 |
| Lennox International Inc., 1.70%, 08/01/27 | &nbsp;&nbsp; 1595 | 1470966 |
| Martin Marietta Materials Inc. |  |  |
| 3.45%, 06/01/27 | &nbsp;&nbsp; 1390 | 1347862 |
| 3.50%, 12/15/27 | &nbsp;&nbsp; 2370 | 2291344 |
| Masco Corp., 3.50%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1641 | 1579678 |
| Owens Corning, 5.50%, 06/15/27 | &nbsp;&nbsp; 1780 | 1814733 |
| Vulcan Materials Co., 3.90%, 04/01/27 | &nbsp;&nbsp; 2026 | 1994495 |
|  |  | 15015941 |
| **Chemicals — 1.5%** | **Chemicals — 1.5%** | **Chemicals — 1.5%** |
| Air Products and Chemicals Inc., 1.85%, 05/15/27 | &nbsp;&nbsp; 3371 | 3164719 |
| Albemarle Corp., 4.65%, 06/01/27 | &nbsp;&nbsp; 3368 | 3345131 |
| Celanese U.S. Holdings LLC, 6.17%, 07/15/27 | &nbsp;&nbsp; 9964 | 10189125 |
| Ecolab Inc. |  |  |
| 1.65%, 02/01/27 | &nbsp;&nbsp; 2761 | 2596421 |
| 3.25%, 12/01/27 | &nbsp;&nbsp; 2514 | 2421701 |
| LYB International Finance II BV, 3.50%, 03/02/27 | &nbsp;&nbsp; 3016 | 2928606 |
| Mosaic Co. (The), 4.05%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2166 | 2123088 |
| Nutrien Ltd., 5.20%, 06/21/27<sup>(a)</sup> | &nbsp;&nbsp; 2265 | 2295238 |
| RPM International Inc., 3.75%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2196 | 2143547 |
| Sherwin-Williams Co. (The), 3.45%, 06/01/27 | &nbsp;&nbsp; 7456 | 7236782 |
|  |  | 38444358 |
| **Commercial Services — 1.1%** | **Commercial Services — 1.1%** | **Commercial Services — 1.1%** |
| Cintas Corp. No. 2, 3.70%, 04/01/27 | &nbsp;&nbsp; 4658 | 4575039 |
| Equifax Inc., 5.10%, 12/15/27 | &nbsp;&nbsp; 3919 | 3949899 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Global Payments Inc. |  |  |
| 2.15%, 01/15/27 | &nbsp;&nbsp; $3736 | $3529027 |
| 4.95%, 08/15/27 | &nbsp;&nbsp; 2625 | 2634285 |
| Leland Stanford Junior University (The), 1.29%, <br> 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 865 | 800852 |
| PayPal Holdings Inc., 3.90%, 06/01/27 | &nbsp;&nbsp; 2710 | 2676954 |
| Quanta Services Inc., 4.75%, 08/09/27 | &nbsp;&nbsp; 2830 | 2823040 |
| S&P Global Inc. |  |  |
| 2.45%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 6270 | 5981817 |
| 2.95%, 01/22/27 | &nbsp;&nbsp; 2608 | 2523290 |
|  |  | 29494203 |
| **Computers — 3.0%** | **Computers — 3.0%** | **Computers — 3.0%** |
| Accenture Capital Inc., 3.90%, 10/04/27 | &nbsp;&nbsp; 2100 | 2073968 |
| Apple Inc. |  |  |
| 2.90%, 09/12/27 | &nbsp;&nbsp; 10059 | 9682164 |
| 3.00%, 06/20/27 | &nbsp;&nbsp; 3584 | 3470946 |
| 3.00%, 11/13/27 | &nbsp;&nbsp; 7869 | 7577999 |
| 3.20%, 05/11/27 | &nbsp;&nbsp; 8584 | 8357065 |
| 3.35%, 02/09/27<sup>(a)</sup> | &nbsp;&nbsp; 12220 | 11969912 |
| Dell International LLC/EMC Corp., 6.10%, <br> 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2595 | 2685044 |
| Hewlett Packard Enterprise Co., 4.40%, 09/25/27 | &nbsp;&nbsp; 5475 | 5429154 |
| HP Inc., 3.00%, 06/17/27 | &nbsp;&nbsp; 5143 | 4930742 |
| IBM International Capital Pte Ltd., 4.60%, <br> 02/05/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2685 | 2690478 |
| International Business Machines Corp. |  |  |
| 1.70%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6249 | 5824602 |
| 2.20%, 02/09/27 | &nbsp;&nbsp; 3225 | 3061447 |
| 3.30%, 01/27/27<sup>(a)</sup> | &nbsp;&nbsp; 2728 | 2657492 |
| 4.15%, 07/27/27<sup>(a)</sup> | &nbsp;&nbsp; 3925 | 3883568 |
| 6.22%, 08/01/27 | &nbsp;&nbsp; 1895 | 1976345 |
| NetApp Inc., 2.38%, 06/22/27<sup>(a)</sup> | &nbsp;&nbsp; 2591 | 2447887 |
|  |  | 78718813 |
| **Cosmetics & Personal Care — 1.3%** | **Cosmetics & Personal Care — 1.3%** | **Cosmetics & Personal Care — 1.3%** |
| Colgate-Palmolive Co., 3.10%, 08/15/27 | &nbsp;&nbsp; 2375 | 2304733 |
| Estee Lauder Companies Inc. (The), 3.15%, <br> 03/15/27<br>| &nbsp;&nbsp; 2576 | 2495456 |
| Haleon U.S. Capital LLC, 3.38%, 03/24/27 | &nbsp;&nbsp; 9800 | 9513208 |
| Procter & Gamble Co. (The) |  |  |
| 1.90%, 02/01/27 | &nbsp;&nbsp; 4791 | 4549813 |
| 2.80%, 03/25/27<sup>(a)</sup> | &nbsp;&nbsp; 2670 | 2582319 |
| 2.85%, 08/11/27<sup>(a)</sup> | &nbsp;&nbsp; 3874 | 3729809 |
| Unilever Capital Corp. |  |  |
| 2.90%, 05/05/27<sup>(a)</sup> | &nbsp;&nbsp; 5205 | 5020350 |
| 4.25%, 08/12/27<sup>(a)</sup> | &nbsp;&nbsp; 3935 | 3920371 |
|  |  | 34116059 |
| **Diversified Financial Services — 6.2%** | **Diversified Financial Services — 6.2%** | **Diversified Financial Services — 6.2%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 3.65%, 07/21/27 | &nbsp;&nbsp; 4932 | 4784417 |
| 4.63%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2985 | 2961941 |
| 6.10%, 01/15/27 | &nbsp;&nbsp; 4425 | 4537044 |
| 6.45%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7420 | 7680608 |
| Air Lease Corp. |  |  |
| 2.20%, 01/15/27 | &nbsp;&nbsp; 3895 | 3682821 |
| 3.63%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2443 | 2382412 |
| 3.63%, 12/01/27 | &nbsp;&nbsp; 2580 | 2489561 |
| 5.85%, 12/15/27 | &nbsp;&nbsp; 3225 | 3318756 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Ally Financial Inc. |  |  |
| 4.75%, 06/09/27<sup>(a)</sup> | &nbsp;&nbsp; $3780 | $3753908 |
| 7.10%, 11/15/27 | &nbsp;&nbsp; 3729 | 3922751 |
| American Express Co. |  |  |
| 2.55%, 03/04/27<sup>(a)</sup> | &nbsp;&nbsp; 8630 | 8240193 |
| 3.30%, 05/03/27 | &nbsp;&nbsp; 7323 | 7096545 |
| 5.85%, 11/05/27 | &nbsp;&nbsp; 7340 | 7590653 |
| American Express Credit Corp., 3.30%, 05/03/27 | &nbsp;&nbsp; 1697 | 1650979 |
| Andrew W Mellon Foundation (The), Series 2020, <br> 0.95%, 08/01/27<br>| &nbsp;&nbsp; 1239 | 1130214 |
| Capital One Financial Corp. |  |  |
| 3.65%, 05/11/27<sup>(a)</sup> | &nbsp;&nbsp; 5007 | 4880606 |
| 3.75%, 03/09/27 | &nbsp;&nbsp; 6526 | 6376481 |
| Cboe Global Markets Inc., 3.65%, 01/12/27 | &nbsp;&nbsp; 3988 | 3913172 |
| Charles Schwab Corp. (The) |  |  |
| 2.45%, 03/03/27<sup>(a)</sup> | &nbsp;&nbsp; 7810 | 7433160 |
| 3.20%, 03/02/27 | &nbsp;&nbsp; 3188 | 3085611 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 3711 | 3596728 |
| Discover Financial Services, 4.10%, 02/09/27 | &nbsp;&nbsp; 5124 | 5036789 |
| Eaton Vance Corp., 3.50%, 04/06/27 | &nbsp;&nbsp; 1497 | 1458707 |
| Intercontinental Exchange Inc. |  |  |
| 3.10%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2801 | 2692127 |
| 4.00%, 09/15/27 | &nbsp;&nbsp; 7595 | 7492769 |
| Jefferies Financial Group Inc. |  |  |
| 4.85%, 01/15/27 | &nbsp;&nbsp; 3952 | 3949528 |
| 6.45%, 06/08/27 | &nbsp;&nbsp; 1761 | 1828216 |
| Lazard Group LLC, 3.63%, 03/01/27 | &nbsp;&nbsp; 1665 | 1616384 |
| LPL Holdings Inc., 5.70%, 05/20/27 | &nbsp;&nbsp; 2710 | 2751529 |
| Mastercard Inc., 3.30%, 03/26/27<sup>(a)</sup> | &nbsp;&nbsp; 5219 | 5091066 |
| Nomura Holdings Inc. |  |  |
| 2.33%, 01/22/27<sup>(a)</sup> | &nbsp;&nbsp; 6176 | 5833158 |
| 5.39%, 07/06/27<sup>(a)</sup> | &nbsp;&nbsp; 2515 | 2537387 |
| 5.59%, 07/02/27<sup>(a)</sup> | &nbsp;&nbsp; 2525 | 2561819 |
| ORIX Corp. |  |  |
| 3.70%, 07/18/27<sup>(a)</sup> | &nbsp;&nbsp; 2750 | 2668508 |
| 5.00%, 09/13/27 | &nbsp;&nbsp; 2076 | 2082812 |
| Radian Group Inc., 4.88%, 03/15/27 | &nbsp;&nbsp; 2515 | 2496496 |
| Synchrony Financial, 3.95%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4881 | 4688135 |
| Visa Inc. |  |  |
| 0.75%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2602 | 2368598 |
| 1.90%, 04/15/27 | &nbsp;&nbsp; 7464 | 7042756 |
| 2.75%, 09/15/27 | &nbsp;&nbsp; 3854 | 3702405 |
|  |  | 162407750 |
| **Electric — 6.1%** | **Electric — 6.1%** | **Electric — 6.1%** |
| Alabama Power Co., 3.75%, 09/01/27 | &nbsp;&nbsp; 3100 | 3045753 |
| Ameren Corp., 1.95%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2505 | 2349969 |
| American Electric Power Co. Inc. |  |  |
| 3.20%, 11/13/27<sup>(a)</sup> | &nbsp;&nbsp; 2611 | 2500775 |
| 5.75%, 11/01/27 | &nbsp;&nbsp; 2638 | 2714864 |
| Appalachian Power Co., Series X, 3.30%, <br> 06/01/27<br>| &nbsp;&nbsp; 1552 | 1496424 |
| Arizona Public Service Co., 2.95%, 09/15/27 | &nbsp;&nbsp; 1474 | 1398835 |
| Black Hills Corp., 3.15%, 01/15/27 | &nbsp;&nbsp; 1867 | 1796989 |
| CenterPoint Energy Houston Electric LLC, <br> Series AA, 3.00%, 02/01/27<br>| &nbsp;&nbsp; 1709 | 1649351 |
| CMS Energy Corp., 3.45%, 08/15/27 | &nbsp;&nbsp; 1672 | 1617000 |
| Commonwealth Edison Co., Series 122, 2.95%, <br> 08/15/27<br>| &nbsp;&nbsp; 2011 | 1932656 |
| Connecticut Light and Power Co. (The), Series A, <br> 3.20%, 03/15/27<br>| &nbsp;&nbsp; 2166 | 2101756 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Consolidated Edison Co. of New York Inc., <br> Series B, 3.13%, 11/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; $1562 | $1499496 |
| Dominion Energy Inc., Series B, 3.60%, <br> 03/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1783 | 1743558 |
| DTE Energy Co., 4.95%, 07/01/27 | &nbsp;&nbsp; 5060 | 5087739 |
| Duke Energy Corp. |  |  |
| 3.15%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4049 | 3885479 |
| 4.85%, 01/05/27 | &nbsp;&nbsp; 2830 | 2843334 |
| 5.00%, 12/08/27<sup>(a)</sup> | &nbsp;&nbsp; 2485 | 2503324 |
| Duke Energy Florida LLC, 3.20%, 01/15/27 | &nbsp;&nbsp; 3090 | 3006284 |
| Edison International, 5.75%, 06/15/27 | &nbsp;&nbsp; 2808 | 2864880 |
| Entergy Louisiana LLC, 3.12%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1945 | 1873925 |
| Evergy Kansas Central Inc., 3.10%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1160 | 1121923 |
| Eversource Energy |  |  |
| 2.90%, 03/01/27 | &nbsp;&nbsp; 3425 | 3282601 |
| 4.60%, 07/01/27 | &nbsp;&nbsp; 2465 | 2454111 |
| 5.00%, 01/01/27 | &nbsp;&nbsp; 1835 | 1844597 |
| Exelon Corp., 2.75%, 03/15/27 | &nbsp;&nbsp; 3390 | 3243871 |
| FirstEnergy Corp., Series B, 3.90%, 07/15/27 | &nbsp;&nbsp; 7520 | 7340323 |
| Florida Power & Light Co., Series A, 3.30%, <br> 05/30/27<br>| &nbsp;&nbsp; 1617 | 1568226 |
| Georgia Power Co. |  |  |
| 3.25%, 03/30/27<sup>(a)</sup> | &nbsp;&nbsp; 2191 | 2126327 |
| 5.00%, 02/23/27<sup>(a)</sup> | &nbsp;&nbsp; 2280 | 2304942 |
| ITC Holdings Corp., 3.35%, 11/15/27 | &nbsp;&nbsp; 2335 | 2243019 |
| MidAmerican Energy Co., 3.10%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2229 | 2159372 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 3.05%, 04/25/27 | &nbsp;&nbsp; 2185 | 2105925 |
| 4.12%, 09/16/27 | &nbsp;&nbsp; 1460 | 1444884 |
| 4.80%, 02/05/27 | &nbsp;&nbsp; 2551 | 2568123 |
| 5.10%, 05/06/27 | &nbsp;&nbsp; 1775 | 1796684 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 1.88%, 01/15/27 | &nbsp;&nbsp; 4984 | 4688100 |
| 3.55%, 05/01/27 | &nbsp;&nbsp; 7348 | 7160772 |
| 4.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 6230 | 6230259 |
| NSTAR Electric Co., 3.20%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2355 | 2277609 |
| Pacific Gas and Electric Co. |  |  |
| 2.10%, 08/01/27 | &nbsp;&nbsp; 5068 | 4709255 |
| 3.30%, 03/15/27 | &nbsp;&nbsp; 2043 | 1966091 |
| 3.30%, 12/01/27 | &nbsp;&nbsp; 5495 | 5235149 |
| 5.45%, 06/15/27 | &nbsp;&nbsp; 2195 | 2223223 |
| Public Service Electric & Gas Co., 3.00%, <br> 05/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2058 | 1983538 |
| Public Service Enterprise Group Inc., 5.85%, <br> 11/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 3610 | 3720432 |
| Sempra, 3.25%, 06/15/27 | &nbsp;&nbsp; 3821 | 3670893 |
| Southern California Edison Co. |  |  |
| 4.88%, 02/01/27 | &nbsp;&nbsp; 2715 | 2735642 |
| 5.85%, 11/01/27 | &nbsp;&nbsp; 3645 | 3767080 |
| Series D, 4.70%, 06/01/27 | &nbsp;&nbsp; 3060 | 3064459 |
| Southern Co. (The), 5.11%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4200 | 4228207 |
| Union Electric Co., 2.95%, 06/15/27 | &nbsp;&nbsp; 2059 | 1974305 |
| Virginia Electric & Power Co. |  |  |
| Series A, 3.50%, 03/15/27 | &nbsp;&nbsp; 3839 | 3746032 |
| Series B, 3.75%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3175 | 3112466 |
| WEC Energy Group Inc. |  |  |
| 1.38%, 10/15/27 | &nbsp;&nbsp; 2700 | 2459603 |
| 5.15%, 10/01/27 | &nbsp;&nbsp; 1910 | 1937469 |
| Wisconsin Power and Light Co., 3.05%, 10/15/27 | &nbsp;&nbsp; 1417 | 1358802 |
| Xcel Energy Inc., 1.75%, 03/15/27 | &nbsp;&nbsp; 2531 | 2363412 |
|  |  | 160130117 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Emerson Electric Co., 1.80%, 10/15/27 | &nbsp;&nbsp; $2593 | $2401967 |
| **Electronics — 0.9%** | **Electronics — 0.9%** | **Electronics — 0.9%** |
| Allegion U.S. Holding Co. Inc., 3.55%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2054 | 1981868 |
| Amphenol Corp., 5.05%, 04/05/27 | &nbsp;&nbsp; 2330 | 2354263 |
| Honeywell International Inc. |  |  |
| 1.10%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5594 | 5192833 |
| 4.65%, 07/30/27 | &nbsp;&nbsp; 4600 | 4625949 |
| Hubbell Inc., 3.15%, 08/15/27 | &nbsp;&nbsp; 1470 | 1409637 |
| Jabil Inc., 4.25%, 05/15/27 | &nbsp;&nbsp; 2515 | 2475411 |
| Keysight Technologies Inc., 4.60%, 04/06/27 | &nbsp;&nbsp; 3498 | 3496860 |
| Tyco Electronics Group SA, 3.13%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2152 | 2074202 |
|  |  | 23611023 |
| **Entertainment — 0.7%** | **Entertainment — 0.7%** | **Entertainment — 0.7%** |
| Warnermedia Holdings Inc., 3.76%, 03/15/27 | &nbsp;&nbsp; 19376 | 18655401 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| Republic Services Inc., 3.38%, 11/15/27 | &nbsp;&nbsp; 3270 | 3160110 |
| Waste Management Inc. |  |  |
| 3.15%, 11/15/27 | &nbsp;&nbsp; 4815 | 4629909 |
| 4.95%, 07/03/27 | &nbsp;&nbsp; 2890 | 2920198 |
|  |  | 10710217 |
| **Food — 2.2%** | **Food — 2.2%** | **Food — 2.2%** |
| Campbell Soup Co., 5.20%, 03/19/27 | &nbsp;&nbsp; 2440 | 2475031 |
| Conagra Brands Inc., 1.38%, 11/01/27 | &nbsp;&nbsp; 5139 | 4650754 |
| General Mills Inc. |  |  |
| 3.20%, 02/10/27<sup>(a)</sup> | &nbsp;&nbsp; 3673 | 3556371 |
| 4.70%, 01/30/27 | &nbsp;&nbsp; 2620 | 2621982 |
| Hormel Foods Corp., 4.80%, 03/30/27 | &nbsp;&nbsp; 1830 | 1844374 |
| J.M. Smucker Co. (The), 3.38%, 12/15/27 | &nbsp;&nbsp; 2545 | 2451360 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL, 2.50%, 01/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 4760 | 4513199 |
| Kellanova, 3.40%, 11/15/27 | &nbsp;&nbsp; 2964 | 2858988 |
| Kraft Heinz Foods Co., 3.88%, 05/15/27 | &nbsp;&nbsp; 7075 | 6937270 |
| Kroger Co. (The) |  |  |
| 3.70%, 08/01/27 | &nbsp;&nbsp; 3212 | 3134572 |
| 4.60%, 08/15/27 | &nbsp;&nbsp; 3990 | 3995823 |
| McCormick & Co. Inc./MD, 3.40%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3780 | 3658751 |
| Mondelez International Inc., 2.63%, 03/17/27 | &nbsp;&nbsp; 3784 | 3618475 |
| Sysco Corp., 3.25%, 07/15/27 | &nbsp;&nbsp; 4039 | 3891804 |
| Tyson Foods Inc., 3.55%, 06/02/27 | &nbsp;&nbsp; 6980 | 6773834 |
|  |  | 56982588 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| Celulosa Arauco y Constitucion SA, 3.88%, <br> 11/02/27<br>| &nbsp;&nbsp; 2351 | 2255269 |
| Suzano International Finance BV, 5.50%, <br> 01/17/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2918 | 2939700 |
|  |  | 5194969 |
| **Gas — 0.5%** | **Gas — 0.5%** | **Gas — 0.5%** |
| Atmos Energy Corp., 3.00%, 06/15/27 | &nbsp;&nbsp; 2724 | 2619270 |
| National Fuel Gas Co., 3.95%, 09/15/27 | &nbsp;&nbsp; 910 | 885023 |
| NiSource Inc., 3.49%, 05/15/27 | &nbsp;&nbsp; 5136 | 4997837 |
| Southern California Gas Co., 2.95%, 04/15/27 | &nbsp;&nbsp; 3660 | 3521603 |
| Southwest Gas Corp., 5.80%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1290 | 1321080 |
|  |  | 13344813 |
| **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** |
| Snap-on Inc., 3.25%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1221 | 1187543 |
| **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** |
| Agilent Technologies Inc., 4.20%, 09/09/27 | &nbsp;&nbsp; 1665 | 1646106 |
| Baxter International Inc., 1.92%, 02/01/27 | &nbsp;&nbsp; 7421 | 6965059 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products (continued)** | **Health Care - Products (continued)** | **Health Care - Products (continued)** |
| GE HealthCare Technologies Inc., 5.65%, <br> 11/15/27<br>| &nbsp;&nbsp; $8720 | $8944184 |
| Smith & Nephew PLC, 5.15%, 03/20/27 | &nbsp;&nbsp; 830 | 834906 |
| Solventum Corp., 5.45%, 02/25/27<sup>(b)</sup> | &nbsp;&nbsp; 5361 | 5430174 |
| Thermo Fisher Scientific Inc., 4.80%, 11/21/27<sup>(a)</sup> | &nbsp;&nbsp; 3410 | 3449384 |
|  |  | 27269813 |
| **Health Care - Services — 2.9%** | **Health Care - Services — 2.9%** | **Health Care - Services — 2.9%** |
| Centene Corp., 4.25%, 12/15/27 | &nbsp;&nbsp; 11897 | 11509312 |
| Cigna Group (The) |  |  |
| 3.05%, 10/15/27 | &nbsp;&nbsp; 2240 | 2142590 |
| 3.40%, 03/01/27 | &nbsp;&nbsp; 7155 | 6948063 |
| CommonSpirit Health, 6.07%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1105 | 1144124 |
| Elevance Health Inc., 3.65%, 12/01/27 | &nbsp;&nbsp; 8159 | 7922757 |
| HCA Inc. |  |  |
| 3.13%, 03/15/27 | &nbsp;&nbsp; 4950 | 4760225 |
| 4.50%, 02/15/27 | &nbsp;&nbsp; 6248 | 6197192 |
| Humana Inc. |  |  |
| 1.35%, 02/03/27 | &nbsp;&nbsp; 3734 | 3459662 |
| 3.95%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3011 | 2946628 |
| ICON Investments Six DAC, 5.81%, 05/08/27 | &nbsp;&nbsp; 2950 | 3009132 |
| Kaiser Foundation Hospitals, 3.15%, 05/01/27 | &nbsp;&nbsp; 3041 | 2945578 |
| Laboratory Corp. of America Holdings, 3.60%, <br> 09/01/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2876 | 2799903 |
| Quest Diagnostics Inc., 4.60%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1655 | 1658153 |
| SSM Health Care Corp., Series A, 3.82%, <br> 06/01/27<br>| &nbsp;&nbsp; 2232 | 2183952 |
| UnitedHealth Group Inc. |  |  |
| 3.70%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3020 | 2968175 |
| 2.95%, 10/15/27 | &nbsp;&nbsp; 4697 | 4509665 |
| 3.38%, 04/15/27 | &nbsp;&nbsp; 3099 | 3018282 |
| 3.45%, 01/15/27 | &nbsp;&nbsp; 3801 | 3721880 |
| 4.60%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2500 | 2516660 |
|  |  | 76361933 |
| **Holding Companies - Diversified — 1.6%** | **Holding Companies - Diversified — 1.6%** | **Holding Companies - Diversified — 1.6%** |
| Ares Capital Corp. |  |  |
| 2.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2535 | 2381921 |
| 7.00%, 01/15/27 | &nbsp;&nbsp; 4496 | 4645112 |
| Blackstone Private Credit Fund |  |  |
| 3.25%, 03/15/27 | &nbsp;&nbsp; 4745 | 4495934 |
| 4.95%, 09/26/27<sup>(b)</sup> | &nbsp;&nbsp; 1215 | 1193352 |
| Blackstone Secured Lending Fund |  |  |
| 2.13%, 02/15/27 | &nbsp;&nbsp; 2915 | 2698139 |
| 5.88%, 11/15/27 | &nbsp;&nbsp; 2235 | 2261735 |
| Blue Owl Capital Corp., 2.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2380 | 2227412 |
| Blue Owl Capital Corp. III, 3.13%, 04/13/27 | &nbsp;&nbsp; 1705 | 1598523 |
| Blue Owl Credit Income Corp. |  |  |
| 4.70%, 02/08/27 | &nbsp;&nbsp; 2518 | 2455507 |
| 7.75%, 09/16/27<sup>(a)</sup> | &nbsp;&nbsp; 2961 | 3084279 |
| Blue Owl Technology Finance Corp., 2.50%, <br> 01/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1555 | 1440568 |
| FS KKR Capital Corp. |  |  |
| 2.63%, 01/15/27 | &nbsp;&nbsp; 2455 | 2303680 |
| 3.25%, 07/15/27 | &nbsp;&nbsp; 1910 | 1796857 |
| Goldman Sachs BDC Inc., 6.38%, 03/11/27 | &nbsp;&nbsp; 1860 | 1899120 |
| Golub Capital BDC Inc., 2.05%, 02/15/27 | &nbsp;&nbsp; 1815 | 1671135 |
| Main Street Capital Corp., 6.50%, 06/04/27 | &nbsp;&nbsp; 1635 | 1649912 |
| Morgan Stanley Direct Lending Fund, 4.50%, <br> 02/11/27<sup>(a)</sup><br>| &nbsp;&nbsp; 1786 | 1757962 |
| New Mountain Finance Corp., 6.20%, 10/15/27 | &nbsp;&nbsp; 1170 | 1156660 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| Oaktree Specialty Lending Corp., 2.70%, <br> 01/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; $1790 | $1671607 |
|  |  | 42389415 |
| **Home Builders — 0.5%** | **Home Builders — 0.5%** | **Home Builders — 0.5%** |
| DR Horton Inc., 1.40%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2354 | 2159376 |
| Lennar Corp. |  |  |
| 4.75%, 11/29/27 | &nbsp;&nbsp; 3666 | 3666700 |
| 5.00%, 06/15/27 | &nbsp;&nbsp; 1946 | 1957393 |
| Meritage Homes Corp., 5.13%, 06/06/27<sup>(a)</sup> | &nbsp;&nbsp; 1710 | 1711195 |
| PulteGroup Inc., 5.00%, 01/15/27 | &nbsp;&nbsp; 1706 | 1710958 |
| Toll Brothers Finance Corp., 4.88%, 03/15/27 | &nbsp;&nbsp; 2318 | 2316694 |
|  |  | 13522316 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Leggett & Platt Inc., 3.50%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2577 | 2444128 |
| **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** | **Household Products & Wares — 0.2%** |
| Church & Dwight Co. Inc., 3.15%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1475 | 1427044 |
| Clorox Co. (The), 3.10%, 10/01/27 | &nbsp;&nbsp; 2009 | 1925712 |
| Kimberly-Clark Corp., 1.05%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3085 | 2807321 |
|  |  | 6160077 |
| **Insurance — 1.8%** | **Insurance — 1.8%** | **Insurance — 1.8%** |
| American National Group Inc., 5.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2513 | 2494248 |
| Aon Corp., 8.21%, 01/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2443 | 2600577 |
| Aon Corp./Aon Global Holdings PLC, 2.85%, <br> 05/28/27<br>| &nbsp;&nbsp; 3275 | 3135454 |
| Aon North America Inc., 5.13%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2610 | 2643572 |
| Axis Specialty Finance PLC, 4.00%, 12/06/27 | &nbsp;&nbsp; 1808 | 1755009 |
| Berkshire Hathaway Finance Corp., 2.30%, <br> 03/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2665 | 2550809 |
| Brighthouse Financial Inc., 3.70%, 06/22/27 | &nbsp;&nbsp; 2315 | 2240282 |
| CNA Financial Corp., 3.45%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2164 | 2093079 |
| Corebridge Financial Inc., 3.65%, 04/05/27<sup>(a)</sup> | &nbsp;&nbsp; 6350 | 6186696 |
| Jackson Financial Inc., 5.17%, 06/08/27 | &nbsp;&nbsp; 2090 | 2098719 |
| Manulife Financial Corp., 2.48%, 05/19/27 | &nbsp;&nbsp; 2733 | 2593389 |
| Markel Group Inc., 3.50%, 11/01/27 | &nbsp;&nbsp; 1594 | 1534675 |
| Marsh & McLennan Companies Inc., 4.55%, <br> 11/08/27<br>| &nbsp;&nbsp; 2670 | 2670537 |
| Mercury General Corp., 4.40%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1961 | 1921674 |
| Progressive Corp. (The) |  |  |
| 2.45%, 01/15/27 | &nbsp;&nbsp; 2686 | 2573142 |
| 2.50%, 03/15/27 | &nbsp;&nbsp; 2679 | 2559752 |
| RenaissanceRe Finance Inc., 3.45%, 07/01/27 | &nbsp;&nbsp; 1661 | 1610735 |
| Willis North America Inc., 4.65%, 06/15/27 | &nbsp;&nbsp; 3686 | 3672858 |
|  |  | 46935207 |
| **Internet — 3.2%** | **Internet — 3.2%** | **Internet — 3.2%** |
| Alibaba Group Holding Ltd., 3.40%, 12/06/27<sup>(a)</sup> | &nbsp;&nbsp; 12381 | 11933939 |
| Alphabet Inc., 0.80%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp; 4765 | 4351004 |
| Amazon.com Inc. |  |  |
| 1.20%, 06/03/27 | &nbsp;&nbsp; 5449 | 5034230 |
| 3.15%, 08/22/27 | &nbsp;&nbsp; 16397 | 15875091 |
| 3.30%, 04/13/27 | &nbsp;&nbsp; 9090 | 8869357 |
| 4.55%, 12/01/27 | &nbsp;&nbsp; 9240 | 9286435 |
| Baidu Inc. |  |  |
| 1.63%, 02/23/27 | &nbsp;&nbsp; 160 | 149595 |
| 3.63%, 07/06/27<sup>(a)</sup> | &nbsp;&nbsp; 1655 | 1612405 |
| eBay Inc. |  |  |
| 3.60%, 06/05/27<sup>(a)</sup> | &nbsp;&nbsp; 4104 | 4010910 |
| 5.95%, 11/22/27 | &nbsp;&nbsp; 1805 | 1869772 |
| Expedia Group Inc., 4.63%, 08/01/27 | &nbsp;&nbsp; 3872 | 3856381 |
| Meta Platforms Inc., 3.50%, 08/15/27 | &nbsp;&nbsp; 13820 | 13515908 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| VeriSign Inc., 4.75%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; $2786 | $2762341 |
|  |  | 83127368 |
| **Iron & Steel — 0.4%** | **Iron & Steel — 0.4%** | **Iron & Steel — 0.4%** |
| ArcelorMittal SA, 6.55%, 11/29/27 | &nbsp;&nbsp; 6070 | 6317065 |
| Nucor Corp., 4.30%, 05/23/27 | &nbsp;&nbsp; 2725 | 2713849 |
| Steel Dynamics Inc., 1.65%, 10/15/27 | &nbsp;&nbsp; 1716 | 1571328 |
|  |  | 10602242 |
| **Lodging — 0.6%** | **Lodging — 0.6%** | **Lodging — 0.6%** |
| Hyatt Hotels Corp., 5.75%, 01/30/27<sup>(a)</sup> | &nbsp;&nbsp; 3410 | 3476479 |
| Las Vegas Sands Corp., 5.90%, 06/01/27 | &nbsp;&nbsp; 3585 | 3639888 |
| Marriott International Inc./MD, 5.00%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5135 | 5188736 |
| Sands China Ltd., 2.30%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 3135 | 2918206 |
|  |  | 15223309 |
| **Machinery — 2.0%** | **Machinery — 2.0%** | **Machinery — 2.0%** |
| AGCO Corp., 5.45%, 03/21/27 | &nbsp;&nbsp; 2320 | 2343978 |
| Caterpillar Financial Services Corp. |  |  |
| 1.10%, 09/14/27 | &nbsp;&nbsp; 3777 | 3453094 |
| 1.70%, 01/08/27<sup>(a)</sup> | &nbsp;&nbsp; 1680 | 1585517 |
| 3.60%, 08/12/27<sup>(a)</sup> | &nbsp;&nbsp; 3468 | 3403385 |
| 4.40%, 10/15/27 | &nbsp;&nbsp; 2345 | 2343020 |
| 4.50%, 01/08/27<sup>(a)</sup> | &nbsp;&nbsp; 2365 | 2371892 |
| 5.00%, 05/14/27 | &nbsp;&nbsp; 2400 | 2433705 |
| CNH Industrial Capital LLC, 4.50%, 10/08/27 | &nbsp;&nbsp; 1530 | 1519200 |
| CNH Industrial NV, 3.85%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2569 | 2514751 |
| Ingersoll Rand Inc., 5.20%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2645 | 2678289 |
| John Deere Capital Corp. |  |  |
| 1.70%, 01/11/27<sup>(a)</sup> | &nbsp;&nbsp; 2516 | 2373446 |
| 1.75%, 03/09/27 | &nbsp;&nbsp; 2427 | 2283091 |
| 2.35%, 03/08/27<sup>(a)</sup> | &nbsp;&nbsp; 2475 | 2359149 |
| 2.80%, 09/08/27<sup>(a)</sup> | &nbsp;&nbsp; 1744 | 1667006 |
| 4.15%, 09/15/27 | &nbsp;&nbsp; 4830 | 4801032 |
| 4.20%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2140 | 2127030 |
| 4.50%, 01/08/27<sup>(a)</sup> | &nbsp;&nbsp; 2735 | 2741112 |
| 4.85%, 03/05/27<sup>(a)</sup> | &nbsp;&nbsp; 2300 | 2322945 |
| 4.90%, 06/11/27 | &nbsp;&nbsp; 3355 | 3391008 |
| Otis Worldwide Corp., 2.29%, 04/05/27<sup>(a)</sup> | &nbsp;&nbsp; 2426 | 2300159 |
|  |  | 51012809 |
| **Manufacturing — 0.8%** | **Manufacturing — 0.8%** | **Manufacturing — 0.8%** |
| 3M Co., 2.88%, 10/15/27 | &nbsp;&nbsp; 4159 | 3964466 |
| Carlisle Companies Inc., 3.75%, 12/01/27 | &nbsp;&nbsp; 3035 | 2950288 |
| Eaton Corp., 3.10%, 09/15/27 | &nbsp;&nbsp; 3241 | 3123961 |
| Parker-Hannifin Corp. |  |  |
| 3.25%, 03/01/27 | &nbsp;&nbsp; 2806 | 2723018 |
| 4.25%, 09/15/27 | &nbsp;&nbsp; 6589 | 6532476 |
| Textron Inc., 3.65%, 03/15/27 | &nbsp;&nbsp; 2009 | 1956304 |
|  |  | 21250513 |
| **Media — 1.2%** | **Media — 1.2%** | **Media — 1.2%** |
| Comcast Corp. |  |  |
| 2.35%, 01/15/27 | &nbsp;&nbsp; 6816 | 6501281 |
| 3.30%, 02/01/27 | &nbsp;&nbsp; 6098 | 5942970 |
| 3.30%, 04/01/27 | &nbsp;&nbsp; 3894 | 3789287 |
| 5.35%, 11/15/27 | &nbsp;&nbsp; 3660 | 3746457 |
| FactSet Research Systems Inc., 2.90%, 03/01/27 | &nbsp;&nbsp; 2615 | 2507279 |
| Paramount Global, 2.90%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1603 | 1522816 |
| TWDC Enterprises 18 Corp., 2.95%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5171 | 4973467 |
| Walt Disney Co. (The), 3.70%, 03/23/27 | &nbsp;&nbsp; 2796 | 2751049 |
|  |  | 31734606 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| Freeport-McMoRan Inc., 5.00%, 09/01/27 | &nbsp;&nbsp; 2297 | 2294743 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| Kinross Gold Corp., 4.50%, 07/15/27 | &nbsp;&nbsp; $2634 | $2605723 |
|  |  | 4900466 |
| **Oil & Gas — 3.2%** | **Oil & Gas — 3.2%** | **Oil & Gas — 3.2%** |
| BP Capital Markets America Inc. |  |  |
| 3.02%, 01/16/27<sup>(a)</sup> | &nbsp;&nbsp; 4356 | 4214414 |
| 3.54%, 04/06/27<sup>(a)</sup> | &nbsp;&nbsp; 2466 | 2408121 |
| 3.59%, 04/14/27 | &nbsp;&nbsp; 3072 | 3001973 |
| 5.02%, 11/17/27<sup>(a)</sup> | &nbsp;&nbsp; 3865 | 3915219 |
| BP Capital Markets PLC, 3.28%, 09/19/27 | &nbsp;&nbsp; 7352 | 7097937 |
| Canadian Natural Resources Ltd., 3.85%, <br> 06/01/27<br>| &nbsp;&nbsp; 6503 | 6359760 |
| Cenovus Energy Inc., 4.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1956 | 1928151 |
| Chevron Corp., 2.00%, 05/11/27 | &nbsp;&nbsp; 5567 | 5255610 |
| Chevron USA Inc., 1.02%, 08/12/27<sup>(a)</sup> | &nbsp;&nbsp; 4271 | 3901427 |
| Coterra Energy Inc., 3.90%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3424 | 3336515 |
| Devon Energy Corp., 5.25%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2023 | 2031822 |
| Diamondback Energy Inc., 5.20%, 04/18/27 | &nbsp;&nbsp; 4505 | 4551092 |
| Eni USA Inc., 7.30%, 11/15/27 | &nbsp;&nbsp; 1902 | 2027221 |
| EQT Corp., 3.90%, 10/01/27 | &nbsp;&nbsp; 5981 | 5823292 |
| Exxon Mobil Corp., 3.29%, 03/19/27<sup>(a)</sup> | &nbsp;&nbsp; 4301 | 4212918 |
| Helmerich & Payne Inc., 4.65%, 12/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp; 930 | 918780 |
| Hess Corp., 4.30%, 04/01/27 | &nbsp;&nbsp; 5187 | 5131520 |
| HF Sinclair Corp., 6.38%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 550 | 556951 |
| Marathon Oil Corp., 4.40%, 07/15/27 | &nbsp;&nbsp; 5271 | 5225432 |
| Occidental Petroleum Corp. |  |  |
| 5.00%, 08/01/27 | &nbsp;&nbsp; 3050 | 3048005 |
| 8.50%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2615 | 2802328 |
| Phillips 66 Co., 4.95%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4003 | 4037836 |
| Valero Energy Corp., 2.15%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2810 | 2622986 |
|  |  | 84409310 |
| **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc., 3.34%, 12/15/27<br>| &nbsp;&nbsp; 7016 | 6748754 |
| **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |
| Berry Global Inc., 1.65%, 01/15/27 | &nbsp;&nbsp; 2280 | 2124439 |
| Packaging Corp. of America, 3.40%, 12/15/27 | &nbsp;&nbsp; 2576 | 2479749 |
| Sonoco Products Co., 2.25%, 02/01/27 | &nbsp;&nbsp; 1674 | 1580740 |
| WRKCo Inc., 3.38%, 09/15/27 | &nbsp;&nbsp; 2559 | 2459136 |
|  |  | 8644064 |
| **Pharmaceuticals — 4.5%** | **Pharmaceuticals — 4.5%** | **Pharmaceuticals — 4.5%** |
| AbbVie Inc., 4.80%, 03/15/27 | &nbsp;&nbsp; 11740 | 11819364 |
| Astrazeneca Finance LLC, 4.80%, 02/26/27 | &nbsp;&nbsp; 6300 | 6349180 |
| AstraZeneca PLC, 3.13%, 06/12/27 | &nbsp;&nbsp; 3789 | 3669288 |
| Becton Dickinson & Co., 3.70%, 06/06/27 | &nbsp;&nbsp; 8634 | 8429991 |
| Bristol-Myers Squibb Co. |  |  |
| 1.13%, 11/13/27<sup>(a)</sup> | &nbsp;&nbsp; 5809 | 5266828 |
| 3.25%, 02/27/27 | &nbsp;&nbsp; 1815 | 1766682 |
| 3.45%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3177 | 3094652 |
| 4.90%, 02/22/27<sup>(a)</sup> | &nbsp;&nbsp; 3925 | 3965602 |
| Cardinal Health Inc., 3.41%, 06/15/27 | &nbsp;&nbsp; 5867 | 5680281 |
| Cencora Inc., 3.45%, 12/15/27 | &nbsp;&nbsp; 3814 | 3681554 |
| CVS Health Corp. |  |  |
| 1.30%, 08/21/27 | &nbsp;&nbsp; 10947 | 9914374 |
| 3.63%, 04/01/27 | &nbsp;&nbsp; 3323 | 3226337 |
| 6.25%, 06/01/27 | &nbsp;&nbsp; 1931 | 1989967 |
| Eli Lilly & Co. |  |  |
| 3.10%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2223 | 2159282 |
| 4.15%, 08/14/27<sup>(a)</sup> | &nbsp;&nbsp; 4065 | 4046886 |
| 4.50%, 02/09/27 | &nbsp;&nbsp; 5187 | 5200228 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| 5.50%, 03/15/27 | &nbsp;&nbsp; $1467 | $1509495 |
| Johnson & Johnson |  |  |
| 0.95%, 09/01/27 | &nbsp;&nbsp; 7312 | 6678732 |
| 2.95%, 03/03/27 | &nbsp;&nbsp; 4636 | 4499611 |
| Merck & Co. Inc., 1.70%, 06/10/27<sup>(a)</sup> | &nbsp;&nbsp; 7711 | 7221286 |
| Novartis Capital Corp. |  |  |
| 2.00%, 02/14/27<sup>(a)</sup> | &nbsp;&nbsp; 6240 | 5936326 |
| 3.10%, 05/17/27 | &nbsp;&nbsp; 5078 | 4931041 |
| Viatris Inc., 2.30%, 06/22/27 | &nbsp;&nbsp; 3865 | 3604035 |
| Zoetis Inc., 3.00%, 09/12/27 | &nbsp;&nbsp; 3616 | 3464397 |
|  |  | 118105419 |
| **Pipelines — 3.3%** | **Pipelines — 3.3%** | **Pipelines — 3.3%** |
| Boardwalk Pipelines LP, 4.45%, 07/15/27 | &nbsp;&nbsp; 2474 | 2445529 |
| Cheniere Corpus Christi Holdings LLC, 5.13%, <br> 06/30/27<sup>(a)</sup><br>| &nbsp;&nbsp; 6066 | 6104842 |
| DCP Midstream Operating LP, 5.63%, 07/15/27 | &nbsp;&nbsp; 2575 | 2620809 |
| Enbridge Inc. |  |  |
| 3.70%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3034 | 2957410 |
| 5.25%, 04/05/27 | &nbsp;&nbsp; 2325 | 2354995 |
| Energy Transfer LP |  |  |
| 4.00%, 10/01/27 | &nbsp;&nbsp; 3753 | 3673667 |
| 4.20%, 04/15/27 | &nbsp;&nbsp; 2961 | 2919080 |
| 4.40%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3490 | 3459908 |
| 5.50%, 06/01/27 | &nbsp;&nbsp; 4701 | 4771759 |
| Enterprise Products Operating LLC |  |  |
| 3.95%, 02/15/27 | &nbsp;&nbsp; 3453 | 3405704 |
| 4.60%, 01/11/27 | &nbsp;&nbsp; 4695 | 4700326 |
| MPLX LP |  |  |
| 4.13%, 03/01/27 | &nbsp;&nbsp; 6032 | 5947956 |
| 4.25%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3791 | 3728222 |
| Northwest Pipeline LLC, 4.00%, 04/01/27 | &nbsp;&nbsp; 2691 | 2637488 |
| ONEOK Inc. |  |  |
| 4.00%, 07/13/27 | &nbsp;&nbsp; 2653 | 2598947 |
| 4.25%, 09/24/27<sup>(a)</sup> | &nbsp;&nbsp; 3220 | 3179778 |
| Sabine Pass Liquefaction LLC, 5.00%, 03/15/27 | &nbsp;&nbsp; 7819 | 7835813 |
| South Bow USA Infrastructure Holdings LLC, <br> 4.91%, 09/01/27<sup>(b)</sup><br>| &nbsp;&nbsp; 2690 | 2675802 |
| Targa Resources Corp., 5.20%, 07/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3765 | 3808901 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp., 6.50%, 07/15/27<br>| &nbsp;&nbsp; 3235 | 3264372 |
| TC PipeLines LP, 3.90%, 05/25/27 | &nbsp;&nbsp; 2799 | 2729755 |
| Tennessee Gas Pipeline Co. LLC, 7.00%, <br> 03/15/27<br>| &nbsp;&nbsp; 1413 | 1477625 |
| Williams Companies Inc. (The), 3.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 7254 | 7081600 |
|  |  | 86380288 |
| **Real Estate Investment Trusts — 3.9%** | **Real Estate Investment Trusts — 3.9%** | **Real Estate Investment Trusts — 3.9%** |
| Alexandria Real Estate Equities Inc., 3.95%, <br> 01/15/27<br>| &nbsp;&nbsp; 1864 | 1828137 |
| American Tower Corp. |  |  |
| 2.75%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3749 | 3592395 |
| 3.13%, 01/15/27 | &nbsp;&nbsp; 2006 | 1936336 |
| 3.55%, 07/15/27 | &nbsp;&nbsp; 3742 | 3623700 |
| 3.65%, 03/15/27 | &nbsp;&nbsp; 3261 | 3179778 |
| AvalonBay Communities Inc., 3.35%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1995 | 1936466 |
| Boston Properties LP, 6.75%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3885 | 4049919 |
| Brixmor Operating Partnership LP, 3.90%, <br> 03/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2056 | 2004034 |
| Crown Castle Inc. |  |  |
| 2.90%, 03/15/27 | &nbsp;&nbsp; 3705 | 3545778 |
| 3.65%, 09/01/27 | &nbsp;&nbsp; 5120 | 4954838 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| 4.00%, 03/01/27 | &nbsp;&nbsp; $2473 | $2428361 |
| Digital Realty Trust LP, 3.70%, 08/15/27 | &nbsp;&nbsp; 5328 | 5180664 |
| DOC DR LLC, 4.30%, 03/15/27 | &nbsp;&nbsp; 2060 | 2035574 |
| EPR Properties, 4.50%, 06/01/27 | &nbsp;&nbsp; 1760 | 1725339 |
| Equinix Inc., 1.80%, 07/15/27 | &nbsp;&nbsp; 2573 | 2385609 |
| ERP Operating LP, 3.25%, 08/01/27 | &nbsp;&nbsp; 2062 | 1987551 |
| Essex Portfolio LP, 3.63%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 1805 | 1758907 |
| Extra Space Storage LP, 3.88%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2185 | 2129596 |
| Federal Realty OP LP, 3.25%, 07/15/27 | &nbsp;&nbsp; 2326 | 2227026 |
| Healthcare Realty Holdings LP, 3.75%, 07/01/27 | &nbsp;&nbsp; 2571 | 2489644 |
| Healthpeak OP LLC, 1.35%, 02/01/27 | &nbsp;&nbsp; 2446 | 2265110 |
| Highwoods Realty LP, 3.88%, 03/01/27 | &nbsp;&nbsp; 920 | 890582 |
| Kimco Realty OP LLC, 3.80%, 04/01/27 | &nbsp;&nbsp; 2128 | 2082678 |
| Mid-America Apartments LP, 3.60%, 06/01/27 | &nbsp;&nbsp; 3108 | 3035209 |
| NNN REIT Inc., 3.50%, 10/15/27 | &nbsp;&nbsp; 1951 | 1883811 |
| Omega Healthcare Investors Inc., 4.50%, 04/01/27 | &nbsp;&nbsp; 3651 | 3605400 |
| Prologis LP |  |  |
| 2.13%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2418 | 2284382 |
| 3.38%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2296 | 2221448 |
| Public Storage Operating Co., 3.09%, 09/15/27 | &nbsp;&nbsp; 2566 | 2470895 |
| Realty Income Corp. |  |  |
| 3.00%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3048 | 2942638 |
| 3.95%, 08/15/27 | &nbsp;&nbsp; 3051 | 3005344 |
| Regency Centers LP, 3.60%, 02/01/27 | &nbsp;&nbsp; 1931 | 1880596 |
| Simon Property Group LP |  |  |
| 1.38%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2706 | 2527136 |
| 3.38%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3681 | 3580840 |
| 3.38%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3817 | 3692806 |
| Tanger Properties LP, 3.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1340 | 1293487 |
| UDR Inc., 3.50%, 07/01/27 | &nbsp;&nbsp; 1516 | 1463854 |
| Ventas Realty LP, 3.85%, 04/01/27 | &nbsp;&nbsp; 2055 | 2009506 |
| Welltower OP LLC, 2.70%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2686 | 2585620 |
| Weyerhaeuser Co., 6.95%, 10/01/27 | &nbsp;&nbsp; 1536 | 1625032 |
|  |  | 102346026 |
| **Retail — 3.0%** | **Retail — 3.0%** | **Retail — 3.0%** |
| AutoNation Inc., 3.80%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1463 | 1410220 |
| AutoZone Inc., 3.75%, 06/01/27 | &nbsp;&nbsp; 3274 | 3202578 |
| Costco Wholesale Corp. |  |  |
| 1.38%, 06/20/27 | &nbsp;&nbsp; 6698 | 6196356 |
| 3.00%, 05/18/27 | &nbsp;&nbsp; 5080 | 4922587 |
| Darden Restaurants Inc. |  |  |
| 3.85%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2524 | 2467200 |
| 4.35%, 10/15/27 | &nbsp;&nbsp; 1200 | 1184579 |
| Dollar General Corp. |  |  |
| 3.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2806 | 2744629 |
| 4.63%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2635 | 2613510 |
| Home Depot Inc. (The) |  |  |
| 2.50%, 04/15/27 | &nbsp;&nbsp; 4005 | 3830534 |
| 2.80%, 09/14/27<sup>(a)</sup> | &nbsp;&nbsp; 5077 | 4864974 |
| 2.88%, 04/15/27 | &nbsp;&nbsp; 4015 | 3876764 |
| 4.88%, 06/25/27<sup>(a)</sup> | &nbsp;&nbsp; 4670 | 4727536 |
| Lowe's Companies Inc. |  |  |
| 3.10%, 05/03/27<sup>(a)</sup> | &nbsp;&nbsp; 7558 | 7295530 |
| 3.35%, 04/01/27 | &nbsp;&nbsp; 3223 | 3129986 |
| McDonald's Corp. |  |  |
| 3.50%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 4630 | 4522640 |
| 3.50%, 07/01/27 | &nbsp;&nbsp; 5044 | 4911176 |
| O'Reilly Automotive Inc., 3.60%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; 3704 | 3600458 |
| Starbucks Corp. |  |  |
| 2.00%, 03/12/27 | &nbsp;&nbsp; 3068 | 2895654 |
| 4.85%, 02/08/27 | &nbsp;&nbsp; 3902 | 3925997 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Target Corp., 1.95%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp; $4880 | $4636102 |
| Walmart Inc., 5.88%, 04/05/27 | &nbsp;&nbsp; 1780 | 1844305 |
|  |  | 78803315 |
| **Semiconductors — 2.8%** | **Semiconductors — 2.8%** | **Semiconductors — 2.8%** |
| Analog Devices Inc., 3.45%, 06/15/27 | &nbsp;&nbsp; 2301 | 2242144 |
| Applied Materials Inc., 3.30%, 04/01/27 | &nbsp;&nbsp; 6268 | 6105263 |
| Broadcom Corp./Broadcom Cayman Finance Ltd., <br> 3.88%, 01/15/27<br>| &nbsp;&nbsp; 14423 | 14187067 |
| Broadcom Inc., 5.05%, 07/12/27 | &nbsp;&nbsp; 5790 | 5846589 |
| Intel Corp. |  |  |
| 3.15%, 05/11/27 | &nbsp;&nbsp; 4958 | 4750556 |
| 3.75%, 03/25/27 | &nbsp;&nbsp; 5007 | 4871833 |
| 3.75%, 08/05/27 | &nbsp;&nbsp; 6135 | 5950312 |
| Micron Technology Inc., 4.19%, 02/15/27 | &nbsp;&nbsp; 4832 | 4768401 |
| NXP BV/NXP Funding LLC/NXP USA Inc. |  |  |
| 3.15%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2444 | 2350005 |
| 4.40%, 06/01/27 | &nbsp;&nbsp; 2449 | 2435108 |
| Qualcomm Inc., 3.25%, 05/20/27<sup>(a)</sup> | &nbsp;&nbsp; 9707 | 9422852 |
| Texas Instruments Inc. |  |  |
| 2.90%, 11/03/27<sup>(a)</sup> | &nbsp;&nbsp; 3019 | 2893051 |
| 4.60%, 02/08/27 | &nbsp;&nbsp; 2130 | 2142048 |
| TSMC Arizona Corp., 3.88%, 04/22/27<sup>(a)</sup> | &nbsp;&nbsp; 4972 | 4882189 |
|  |  | 72847418 |
| **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** |
| Huntington Ingalls Industries Inc., 3.48%, 12/01/27 | &nbsp;&nbsp; 3086 | 2968037 |
| **Software — 3.2%** | **Software — 3.2%** | **Software — 3.2%** |
| Adobe Inc. |  |  |
| 2.15%, 02/01/27 | &nbsp;&nbsp; 4789 | 4564990 |
| 4.85%, 04/04/27 | &nbsp;&nbsp; 2190 | 2213438 |
| Autodesk Inc., 3.50%, 06/15/27 | &nbsp;&nbsp; 2387 | 2323748 |
| Cadence Design Systems Inc., 4.20%, 09/10/27 | &nbsp;&nbsp; 1395 | 1384337 |
| Fiserv Inc. |  |  |
| 2.25%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp; 5051 | 4753167 |
| 5.15%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3615 | 3654851 |
| Intuit Inc., 1.35%, 07/15/27 | &nbsp;&nbsp; 2447 | 2257426 |
| Microsoft Corp. |  |  |
| 3.30%, 02/06/27 | &nbsp;&nbsp; 18243 | 17878247 |
| 3.40%, 06/15/27 | &nbsp;&nbsp; 1989 | 1950108 |
| Oracle Corp. |  |  |
| 2.80%, 04/01/27 | &nbsp;&nbsp; 11238 | 10770735 |
| 3.25%, 11/15/27 | &nbsp;&nbsp; 13533 | 13000348 |
| Roper Technologies Inc., 1.40%, 09/15/27 | &nbsp;&nbsp; 3405 | 3128636 |
| Take-Two Interactive Software Inc., 3.70%, <br> 04/14/27<br>| &nbsp;&nbsp; 3220 | 3142779 |
| VMware LLC |  |  |
| 3.90%, 08/21/27 | &nbsp;&nbsp; 5611 | 5482063 |
| 4.65%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2595 | 2587402 |
| Workday Inc., 3.50%, 04/01/27 | &nbsp;&nbsp; 4935 | 4809657 |
|  |  | 83901932 |
| **Telecommunications — 3.5%** | **Telecommunications — 3.5%** | **Telecommunications — 3.5%** |
| AT&T Inc. |  |  |
| 2.30%, 06/01/27 | &nbsp;&nbsp; 12284 | 11604383 |
| 3.80%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp; 3874 | 3801509 |
| 4.25%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp; 7426 | 7372244 |
| Cisco Systems Inc., 4.80%, 02/26/27 | &nbsp;&nbsp; 10193 | 10280267 |
| Nokia OYJ, 4.38%, 06/12/27<sup>(a)</sup> | &nbsp;&nbsp; 2440 | 2393525 |
| Rogers Communications Inc., 3.20%, 03/15/27 | &nbsp;&nbsp; 6620 | 6381488 |
| Telefonica Emisiones SA, 4.10%, 03/08/27 | &nbsp;&nbsp; 6019 | 5933323 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| TELUS Corp. |  |  |
| 2.80%, 02/16/27<sup>(a)</sup> | &nbsp;&nbsp; $3115 | $2973898 |
| 3.70%, 09/15/27 | &nbsp;&nbsp; 2608 | 2529318 |
| T-Mobile USA Inc. |  |  |
| 3.75%, 04/15/27 | &nbsp;&nbsp; 19630 | 19218767 |
| 5.38%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2495 | 2511214 |
| Verizon Communications Inc. |  |  |
| 3.00%, 03/22/27 | &nbsp;&nbsp; 3195 | 3079107 |
| 4.13%, 03/16/27 | &nbsp;&nbsp; 14092 | 13923601 |
|  |  | 92002644 |
| **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** | **Toys, Games & Hobbies — 0.1%** |
| Hasbro Inc., 3.50%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2254 | 2177563 |
| **Transportation — 1.2%** | **Transportation — 1.2%** | **Transportation — 1.2%** |
| Burlington Northern Santa Fe LLC, 3.25%, <br> 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp; 2845 | 2765278 |
| CSX Corp., 3.25%, 06/01/27 | &nbsp;&nbsp; 4300 | 4171252 |
| Norfolk Southern Corp. |  |  |
| 3.15%, 06/01/27 | &nbsp;&nbsp; 1761 | 1698964 |
| 7.80%, 05/15/27 | &nbsp;&nbsp; 1627 | 1749190 |
| Ryder System Inc. |  |  |
| 2.85%, 03/01/27 | &nbsp;&nbsp; 2185 | 2091039 |
| 4.30%, 06/15/27 | &nbsp;&nbsp; 1655 | 1634586 |
| 5.30%, 03/15/27 | &nbsp;&nbsp; 1655 | 1673765 |
| Union Pacific Corp. |  |  |
| 2.15%, 02/05/27<sup>(a)</sup> | &nbsp;&nbsp; 2678 | 2548413 |
| 3.00%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp; 2657 | 2566370 |
| United Parcel Service Inc., 3.05%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp; 5591 | 5366276 |
| Walmart Inc., 3.95%, 09/09/27<sup>(a)</sup> | &nbsp;&nbsp; 5866 | 5811749 |
|  |  | 32076882 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| GATX Corp. |  |  |
| 3.85%, 03/30/27<sup>(a)</sup> | &nbsp;&nbsp; 1746 | 1702604 |
| 5.40%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp; 1330 | 1348580 |
|  |  | 3051184 |
| **Venture Capital — 0.1%** | **Venture Capital — 0.1%** | **Venture Capital — 0.1%** |
| Hercules Capital Inc., 3.38%, 01/20/27<sup>(a)</sup> | &nbsp;&nbsp; 1725 | 1634286 |
| **Water — 0.2%** | **Water — 0.2%** | **Water — 0.2%** |
| American Water Capital Corp., 2.95%, 09/01/27<sup>(a)</sup> | &nbsp;&nbsp; 2508 | 2399719 |
| Essential Utilities Inc., 4.80%, 08/15/27 | &nbsp;&nbsp; 2225 | 2225496 |
|  |  | 4625215 |
| **Total Long-Term Investments — 98.8%** <br>**(Cost: $2,592,854,865)** | **Total Long-Term Investments — 98.8%** <br>**(Cost: $2,592,854,865)** | 2586738250 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 7.0%** | **Money Market Funds — 7.0%** | **Money Market Funds — 7.0%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 180671693 | 180798163 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2027 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 3550000 | $3550000 |
| **Total Short-Term Securities — 7.0%** <br>**(Cost: $184,276,190)** | **Total Short-Term Securities — 7.0%** <br>**(Cost: $184,276,190)** | 184348163 |
| **Total Investments — 105.8%** <br>**(Cost: $2,777,131,055)** | **Total Investments — 105.8%** <br>**(Cost: $2,777,131,055)** | 2771086413 |
| **Liabilities in Excess of Other Assets — (5.8)%** | **Liabilities in Excess of Other Assets — (5.8)%** | (152467580)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2618618833 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $67124569 | $113643000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3681)<br>| $34275 | $180798163 | 180671693 | $409766 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 5790000 |  | &nbsp;&nbsp; (2240000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 3550000 | 3550000 | 254722 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(3681)<br>| $34275 | $184348163 |  | $664488 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2586738250 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2586738250 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 184348163 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 184348163 |
|  | &nbsp;&nbsp; $184348163 | &nbsp;&nbsp; $2586738250 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2771086413 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| Interpublic Group of Companies Inc. (The), 4.65%, <br> 10/01/28<br>| &nbsp;&nbsp; $2636 | $2613683 |
| **Aerospace & Defense — 2.3%** | **Aerospace & Defense — 2.3%** | **Aerospace & Defense — 2.3%** |
| Boeing Co. (The) |  |  |
| 3.25%, 02/01/28 | &nbsp;&nbsp; 5441 | 5109469 |
| 3.25%, 03/01/28 | &nbsp;&nbsp; 1801 | 1676294 |
| 3.45%, 11/01/28 | &nbsp;&nbsp; 1751 | 1622100 |
| General Dynamics Corp., 3.75%, 05/15/28 | &nbsp;&nbsp; 5627 | 5480450 |
| HEICO Corp., 5.25%, 08/01/28 | &nbsp;&nbsp; 2385 | 2419987 |
| Howmet Aerospace Inc., 6.75%, 01/15/28 | &nbsp;&nbsp; 1613 | 1700373 |
| L3Harris Technologies Inc., 4.40%, 06/15/28 | &nbsp;&nbsp; 9036 | 8922305 |
| Lockheed Martin Corp., 4.45%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3300 | 3294944 |
| Northrop Grumman Corp., 3.25%, 01/15/28 | &nbsp;&nbsp; 10379 | 9930664 |
| RTX Corp., 4.13%, 11/16/28<sup>(a)</sup> | &nbsp;&nbsp; 12852 | 12572717 |
|  |  | 52729303 |
| **Agriculture — 1.3%** | **Agriculture — 1.3%** | **Agriculture — 1.3%** |
| Altria Group Inc., 6.20%, 11/01/28 | &nbsp;&nbsp; 2850 | 2981002 |
| BAT Capital Corp., 2.26%, 03/25/28 | &nbsp;&nbsp; 8758 | 8034769 |
| BAT International Finance PLC, 4.45%, 03/16/28 | &nbsp;&nbsp; 5066 | 4997352 |
| Bunge Ltd. Finance Corp., 4.10%, 01/07/28 | &nbsp;&nbsp; 1990 | 1953594 |
| Philip Morris International Inc. |  |  |
| 3.13%, 03/02/28<sup>(a)</sup> | &nbsp;&nbsp; 2119 | 2017452 |
| 4.88%, 02/15/28 | &nbsp;&nbsp; 7445 | 7485966 |
| 5.25%, 09/07/28 | &nbsp;&nbsp; 2690 | 2741085 |
|  |  | 30211220 |
| **Airlines — 0.5%** | **Airlines — 0.5%** | **Airlines — 0.5%** |
| American Airlines Pass-Through Trust |  |  |
| Series 2016-1, Class AA, 3.58%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1267 | 1222386 |
| Series 2016-2, Class AA, 3.20%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1582 | 1491904 |
| Series 2016-3, Class AA, 3.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1639 | 1540960 |
| Delta Air Lines Inc., 4.38%, 04/19/28<sup>(a)</sup> | &nbsp;&nbsp; 2270 | 2219585 |
| Delta Air Lines Pass-Through Trust, Series 2020, <br> Class AA, 2.00%, 12/10/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2549 | 2372118 |
| United Airlines Pass-Through Trust |  |  |
| Series 2016-1, Class AA, 3.10%, 01/07/30 | &nbsp;&nbsp; 1907 | 1798684 |
| Series 2016-2, Class AA, 2.88%, 04/07/30 | &nbsp;&nbsp; 1802 | 1669037 |
|  |  | 12314674 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| Tapestry Inc., 7.35%, 11/27/28<sup>(a)</sup> | &nbsp;&nbsp; 4165 | 4247229 |
| **Auto Manufacturers — 3.5%** | **Auto Manufacturers — 3.5%** | **Auto Manufacturers — 3.5%** |
| American Honda Finance Corp. |  |  |
| 2.00%, 03/24/28<sup>(a)</sup> | &nbsp;&nbsp; 3209 | 2943254 |
| 3.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2105 | 2035646 |
| 4.70%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; 2030 | 2037890 |
| 5.13%, 07/07/28 | &nbsp;&nbsp; 3335 | 3380665 |
| 5.65%, 11/15/28 | &nbsp;&nbsp; 3950 | 4084887 |
| Ford Motor Co., 6.63%, 10/01/28 | &nbsp;&nbsp; 2169 | 2257867 |
| Ford Motor Credit Co. LLC |  |  |
| 2.90%, 02/16/28 | &nbsp;&nbsp; 3748 | 3440734 |
| 6.80%, 05/12/28 | &nbsp;&nbsp; 7340 | 7606096 |
| 6.80%, 11/07/28 | &nbsp;&nbsp; 7330 | 7616110 |
| General Motors Co., 5.00%, 10/01/28 | &nbsp;&nbsp; 3567 | 3559293 |
| General Motors Financial Co. Inc. |  |  |
| 2.40%, 04/10/28 | &nbsp;&nbsp; 4628 | 4243052 |
| 2.40%, 10/15/28 | &nbsp;&nbsp; 4893 | 4421689 |
| 3.85%, 01/05/28 | &nbsp;&nbsp; 1837 | 1774096 |
| 5.80%, 06/23/28<sup>(a)</sup> | &nbsp;&nbsp; 6360 | 6510790 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 6.00%, 01/09/28 | &nbsp;&nbsp; $4628 | $4758373 |
| PACCAR Financial Corp. |  |  |
| 4.60%, 01/10/28 | &nbsp;&nbsp; 978 | 981074 |
| 4.95%, 08/10/28 | &nbsp;&nbsp; 1690 | 1714707 |
| Toyota Motor Corp. |  |  |
| 3.67%, 07/20/28<sup>(a)</sup> | &nbsp;&nbsp; 1219 | 1189845 |
| 5.12%, 07/13/28 | &nbsp;&nbsp; 1825 | 1858358 |
| Toyota Motor Credit Corp. |  |  |
| 1.90%, 04/06/28 | &nbsp;&nbsp; 2961 | 2713762 |
| 3.05%, 01/11/28 | &nbsp;&nbsp; 1921 | 1836346 |
| 4.63%, 01/12/28 | &nbsp;&nbsp; 4965 | 4975918 |
| 5.25%, 09/11/28 | &nbsp;&nbsp; 4135 | 4226401 |
|  |  | 80166853 |
| **Banks — 12.9%** | **Banks — 12.9%** | **Banks — 12.9%** |
| Banco Santander SA |  |  |
| 3.80%, 02/23/28 | &nbsp;&nbsp; 4636 | 4466022 |
| 4.38%, 04/12/28 | &nbsp;&nbsp; 5840 | 5718019 |
| 5.59%, 08/08/28 | &nbsp;&nbsp; 7040 | 7195030 |
| 6.61%, 11/07/28 | &nbsp;&nbsp; 5645 | 5988892 |
| Bank of Montreal |  |  |
| 5.20%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5926 | 6022178 |
| 5.72%, 09/25/28 | &nbsp;&nbsp; 5580 | 5770102 |
| Bank of New York Mellon Corp. (The) |  |  |
| 1.65%, 07/14/28<sup>(a)</sup> | &nbsp;&nbsp; 1660 | 1494858 |
| 3.00%, 10/30/28<sup>(a)</sup> | &nbsp;&nbsp; 2219 | 2079170 |
| 3.40%, 01/29/28<sup>(a)</sup> | &nbsp;&nbsp; 3869 | 3740028 |
| 3.85%, 04/28/28 | &nbsp;&nbsp; 5214 | 5096401 |
| Bank of Nova Scotia (The), 5.25%, 06/12/28<sup>(a)</sup> | &nbsp;&nbsp; 4435 | 4513001 |
| Barclays PLC |  |  |
| 4.34%, 01/10/28 | &nbsp;&nbsp; 5980 | 5862842 |
| 4.84%, 05/09/28 | &nbsp;&nbsp; 9990 | 9856598 |
| Canadian Imperial Bank of Commerce |  |  |
| 5.00%, 04/28/28 | &nbsp;&nbsp; 5300 | 5337835 |
| 5.99%, 10/03/28 | &nbsp;&nbsp; 3785 | 3952044 |
| Citibank NA, 5.80%, 09/29/28<sup>(a)</sup> | &nbsp;&nbsp; 12255 | 12725418 |
| Citigroup Inc. |  |  |
| 4.13%, 07/25/28 | &nbsp;&nbsp; 10151 | 9900977 |
| 6.63%, 01/15/28 | &nbsp;&nbsp; 1985 | 2093131 |
| Discover Bank, 4.65%, 09/13/28 | &nbsp;&nbsp; 4344 | 4269498 |
| Fifth Third Bancorp, 3.95%, 03/14/28 | &nbsp;&nbsp; 3489 | 3391443 |
| First-Citizens Bank & Trust Co., 6.13%, 03/09/28<sup>(a)</sup> | &nbsp;&nbsp; 1915 | 1978534 |
| ING Groep NV, 4.55%, 10/02/28 | &nbsp;&nbsp; 6185 | 6109932 |
| KeyBank NA/Cleveland OH, 6.95%, 02/01/28 | &nbsp;&nbsp; 1115 | 1165604 |
| KeyCorp, 4.10%, 04/30/28<sup>(a)</sup> | &nbsp;&nbsp; 4163 | 4043713 |
| Lloyds Banking Group PLC |  |  |
| 4.38%, 03/22/28 | &nbsp;&nbsp; 7530 | 7392416 |
| 4.55%, 08/16/28 | &nbsp;&nbsp; 6385 | 6305068 |
| Manufacturers & Traders Trust Co., 4.70%, <br> 01/27/28<br>| &nbsp;&nbsp; 4900 | 4843784 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 3.96%, 03/02/28<sup>(a)</sup> | &nbsp;&nbsp; 5866 | 5745612 |
| 4.05%, 09/11/28<sup>(a)</sup> | &nbsp;&nbsp; 4413 | 4331004 |
| Mizuho Financial Group Inc., 4.02%, 03/05/28 | &nbsp;&nbsp; 5632 | 5506667 |
| Morgan Stanley, 3.59%, 07/22/28<sup>(b)</sup> | &nbsp;&nbsp; 13450 | 13036919 |
| National Australia Bank Ltd./New York |  |  |
| 4.90%, 06/13/28<sup>(a)</sup> | &nbsp;&nbsp; 6060 | 6124061 |
| 4.94%, 01/12/28 | &nbsp;&nbsp; 5135 | 5190619 |
| Northern Trust Corp., 3.65%, 08/03/28 | &nbsp;&nbsp; 2347 | 2275535 |
| PNC Bank NA |  |  |
| 3.25%, 01/22/28 | &nbsp;&nbsp; 3580 | 3421026 |
| 4.05%, 07/26/28 | &nbsp;&nbsp; 6080 | 5918925 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Regions Financial Corp., 1.80%, 08/12/28 | &nbsp;&nbsp; $3215 | $2862407 |
| Royal Bank of Canada |  |  |
| 4.90%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; 4130 | 4154120 |
| 5.20%, 08/01/28 | &nbsp;&nbsp; 5340 | 5428154 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 1.90%, 09/17/28 | &nbsp;&nbsp; 8786 | 7891174 |
| 3.54%, 01/17/28 | &nbsp;&nbsp; 3431 | 3306193 |
| 3.94%, 07/19/28 | &nbsp;&nbsp; 2831 | 2752303 |
| 4.31%, 10/16/28<sup>(a)</sup> | &nbsp;&nbsp; 2305 | 2274203 |
| 5.52%, 01/13/28 | &nbsp;&nbsp; 8188 | 8362273 |
| 5.72%, 09/14/28 | &nbsp;&nbsp; 4895 | 5046576 |
| 5.80%, 07/13/28<sup>(a)</sup> | &nbsp;&nbsp; 3745 | 3867294 |
| Synovus Bank, 5.63%, 02/15/28 | &nbsp;&nbsp; 1715 | 1705414 |
| Toronto-Dominion Bank (The) |  |  |
| 5.16%, 01/10/28 | &nbsp;&nbsp; 6448 | 6514731 |
| 5.52%, 07/17/28 | &nbsp;&nbsp; 6420 | 6567796 |
| U.S. Bancorp, 3.90%, 04/26/28 | &nbsp;&nbsp; 4568 | 4435016 |
| UBS AG/London, 5.65%, 09/11/28 | &nbsp;&nbsp; 8055 | 8300194 |
| UBS AG/Stamford CT, 7.50%, 02/15/28 | &nbsp;&nbsp; 11854 | 12769110 |
| Westpac Banking Corp. |  |  |
| 1.95%, 11/20/28 | &nbsp;&nbsp; 5938 | 5375456 |
| 3.40%, 01/25/28 | &nbsp;&nbsp; 5186 | 5004759 |
| 5.54%, 11/17/28 | &nbsp;&nbsp; 5970 | 6189521 |
|  |  | 295669600 |
| **Beverages — 1.7%** | **Beverages — 1.7%** | **Beverages — 1.7%** |
| Anheuser-Busch InBev Worldwide Inc., 4.00%, <br> 04/13/28<br>| &nbsp;&nbsp; 9771 | 9613022 |
| Coca-Cola Co. (The) |  |  |
| 1.00%, 03/15/28 | &nbsp;&nbsp; 6179 | 5554999 |
| 1.50%, 03/05/28<sup>(a)</sup> | &nbsp;&nbsp; 3702 | 3371305 |
| Constellation Brands Inc. |  |  |
| 3.60%, 02/15/28 | &nbsp;&nbsp; 3069 | 2956981 |
| 4.65%, 11/15/28 | &nbsp;&nbsp; 3050 | 3024370 |
| Diageo Capital PLC, 3.88%, 05/18/28 | &nbsp;&nbsp; 2045 | 2006136 |
| Keurig Dr Pepper Inc., 4.60%, 05/25/28 | &nbsp;&nbsp; 5895 | 5864774 |
| PepsiCo Inc. |  |  |
| 3.60%, 02/18/28 | &nbsp;&nbsp; 4907 | 4786032 |
| 4.45%, 05/15/28 | &nbsp;&nbsp; 2090 | 2098088 |
|  |  | 39275707 |
| **Biotechnology — 1.0%** | **Biotechnology — 1.0%** | **Biotechnology — 1.0%** |
| Amgen Inc. |  |  |
| 1.65%, 08/15/28 | &nbsp;&nbsp; 6975 | 6243822 |
| 5.15%, 03/02/28<sup>(a)</sup> | &nbsp;&nbsp; 16385 | 16612292 |
|  |  | 22856114 |
| **Building Materials — 0.4%** | **Building Materials — 0.4%** | **Building Materials — 0.4%** |
| Lennox International Inc., 5.50%, 09/15/28 | &nbsp;&nbsp; 2530 | 2591577 |
| Masco Corp., 1.50%, 02/15/28 | &nbsp;&nbsp; 2805 | 2529861 |
| Mohawk Industries Inc., 5.85%, 09/18/28<sup>(a)</sup> | &nbsp;&nbsp; 1365 | 1407981 |
| Trane Technologies Global Holding Co. Ltd., <br> 3.75%, 08/21/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2567 | 2491694 |
|  |  | 9021113 |
| **Chemicals — 1.6%** | **Chemicals — 1.6%** | **Chemicals — 1.6%** |
| Celanese U.S. Holdings LLC, 6.35%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 5245 | 5428327 |
| Dow Chemical Co. (The), 4.80%, 11/30/28<sup>(a)</sup> | &nbsp;&nbsp; 3070 | 3076114 |
| DuPont de Nemours Inc., 4.73%, 11/15/28 | &nbsp;&nbsp; 9874 | 9868163 |
| Eastman Chemical Co., 4.50%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2534 | 2500207 |
| Ecolab Inc., 5.25%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2515 | 2570301 |
| International Flavors & Fragrances Inc., 4.45%, <br> 09/26/28<br>| &nbsp;&nbsp; 2070 | 2037591 |
| Mosaic Co. (The), 5.38%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1715 | 1744757 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| Nutrien Ltd., 4.90%, 03/27/28<sup>(a)</sup> | &nbsp;&nbsp; $3875 | $3899039 |
| PPG Industries Inc., 3.75%, 03/15/28 | &nbsp;&nbsp; 3847 | 3735450 |
| Sherwin-Williams Co. (The), 4.55%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1430 | 1424744 |
|  |  | 36284693 |
| **Commercial Services — 0.9%** | **Commercial Services — 0.9%** | **Commercial Services — 0.9%** |
| Automatic Data Processing Inc., 1.70%, 05/15/28 | &nbsp;&nbsp; 5237 | 4779261 |
| Block Financial LLC, 2.50%, 07/15/28 | &nbsp;&nbsp; 2985 | 2727669 |
| Equifax Inc., 5.10%, 06/01/28 | &nbsp;&nbsp; 3955 | 3980219 |
| Global Payments Inc., 4.45%, 06/01/28 | &nbsp;&nbsp; 2173 | 2134673 |
| Moody's Corp., 3.25%, 01/15/28 | &nbsp;&nbsp; 2150 | 2072696 |
| S&P Global Inc., 4.75%, 08/01/28 | &nbsp;&nbsp; 2855 | 2866507 |
| UL Solutions Inc., 6.50%, 10/20/28<sup>(a)(c)</sup> | &nbsp;&nbsp; 1910 | 2004624 |
|  |  | 20565649 |
| **Computers — 2.1%** | **Computers — 2.1%** | **Computers — 2.1%** |
| Apple Inc. |  |  |
| 1.20%, 02/08/28 | &nbsp;&nbsp; 9099 | 8239808 |
| 1.40%, 08/05/28 | &nbsp;&nbsp; 8960 | 8049146 |
| 4.00%, 05/10/28 | &nbsp;&nbsp; 4720 | 4679324 |
| Dell Inc., 7.10%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1550 | 1659320 |
| Dell International LLC/EMC Corp., 5.25%, <br> 02/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 5050 | 5128451 |
| DXC Technology Co., 2.38%, 09/15/28 | &nbsp;&nbsp; 3502 | 3116206 |
| Hewlett Packard Enterprise Co., 5.25%, <br> 07/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3105 | 3143059 |
| HP Inc., 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4649 | 4659121 |
| International Business Machines Corp. |  |  |
| 4.50%, 02/06/28<sup>(a)</sup> | &nbsp;&nbsp; 5140 | 5132095 |
| 6.50%, 01/15/28 | &nbsp;&nbsp; 1467 | 1550099 |
| Kyndryl Holdings Inc., 2.70%, 10/15/28 | &nbsp;&nbsp; 2302 | 2094485 |
|  |  | 47451114 |
| **Cosmetics & Personal Care — 0.9%** | **Cosmetics & Personal Care — 0.9%** | **Cosmetics & Personal Care — 0.9%** |
| Colgate-Palmolive Co., 4.60%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1420 | 1439295 |
| Estee Lauder Companies Inc. (The), 4.38%, <br> 05/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 4100 | 4064414 |
| Kenvue Inc., 5.05%, 03/22/28 | &nbsp;&nbsp; 4935 | 5022325 |
| Procter & Gamble Co. (The), 3.95%, 01/26/28<sup>(a)</sup> | &nbsp;&nbsp; 2580 | 2550894 |
| Unilever Capital Corp. |  |  |
| 3.50%, 03/22/28<sup>(a)</sup> | &nbsp;&nbsp; 5722 | 5546651 |
| 4.88%, 09/08/28<sup>(a)</sup> | &nbsp;&nbsp; 2720 | 2754435 |
|  |  | 21378014 |
| **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** |
| LKQ Corp., 5.75%, 06/15/28 | &nbsp;&nbsp; 3420 | 3485177 |
| **Diversified Financial Services — 4.8%** | **Diversified Financial Services — 4.8%** | **Diversified Financial Services — 4.8%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 3.00%, 10/29/28 | &nbsp;&nbsp; 17682 | 16406921 |
| 3.88%, 01/23/28 | &nbsp;&nbsp; 2879 | 2787375 |
| 5.75%, 06/06/28 | &nbsp;&nbsp; 4985 | 5112139 |
| Air Lease Corp. |  |  |
| 2.10%, 09/01/28 | &nbsp;&nbsp; 2609 | 2348302 |
| 4.63%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2464 | 2437144 |
| 5.30%, 02/01/28 | &nbsp;&nbsp; 3420 | 3466626 |
| Ally Financial Inc., 2.20%, 11/02/28 | &nbsp;&nbsp; 3840 | 3411918 |
| Ameriprise Financial Inc., 5.70%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2490 | 2594299 |
| Ares Management Corp., 6.38%, 11/10/28 | &nbsp;&nbsp; 2070 | 2178538 |
| BGC Group Inc., 8.00%, 05/25/28 | &nbsp;&nbsp; 1620 | 1718150 |
| Brookfield Finance Inc., 3.90%, 01/25/28 | &nbsp;&nbsp; 5408 | 5267468 |
| Capital One Financial Corp., 3.80%, 01/31/28 | &nbsp;&nbsp; 6766 | 6540524 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Charles Schwab Corp. (The) |  |  |
| 2.00%, 03/20/28<sup>(a)</sup> | &nbsp;&nbsp; $6034 | $5536081 |
| 3.20%, 01/25/28 | &nbsp;&nbsp; 3328 | 3179262 |
| CME Group Inc., 3.75%, 06/15/28 | &nbsp;&nbsp; 2674 | 2620535 |
| Intercontinental Exchange Inc. |  |  |
| 3.63%, 09/01/28 | &nbsp;&nbsp; 4425 | 4256590 |
| 3.75%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; 2881 | 2782376 |
| Jefferies Financial Group Inc., 5.88%, 07/21/28 | &nbsp;&nbsp; 5370 | 5516920 |
| Lazard Group LLC, 4.50%, 09/19/28 | &nbsp;&nbsp; 2391 | 2342339 |
| LPL Holdings Inc., 6.75%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp; 3435 | 3621325 |
| Mastercard Inc. |  |  |
| 3.50%, 02/26/28 | &nbsp;&nbsp; 2119 | 2058851 |
| 4.10%, 01/15/28 | &nbsp;&nbsp; 2645 | 2623668 |
| 4.88%, 03/09/28 | &nbsp;&nbsp; 3032 | 3075873 |
| Nasdaq Inc., 5.35%, 06/28/28 | &nbsp;&nbsp; 5710 | 5827581 |
| Nomura Holdings Inc. |  |  |
| 2.17%, 07/14/28 | &nbsp;&nbsp; 5168 | 4655754 |
| 5.84%, 01/18/28 | &nbsp;&nbsp; 1962 | 2006536 |
| 6.07%, 07/12/28 | &nbsp;&nbsp; 4425 | 4574218 |
| Oaktree Strategic Credit Fund, 8.40%, 11/14/28 | &nbsp;&nbsp; 1325 | 1419817 |
|  |  | 110367130 |
| **Electric — 8.6%** | **Electric — 8.6%** | **Electric — 8.6%** |
| AEP Texas Inc., 3.95%, 06/01/28 | &nbsp;&nbsp; 2163 | 2098457 |
| AES Corp. (The), 5.45%, 06/01/28 | &nbsp;&nbsp; 4860 | 4904172 |
| Ameren Corp., 1.75%, 03/15/28 | &nbsp;&nbsp; 2276 | 2058953 |
| Ameren Illinois Co., 3.80%, 05/15/28 | &nbsp;&nbsp; 1883 | 1831179 |
| American Electric Power Co. Inc., Series J, 4.30%, <br> 12/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2988 | 2933591 |
| Atlantic City Electric Co., 4.00%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1239 | 1208875 |
| Berkshire Hathaway Energy Co., 3.25%, 04/15/28 | &nbsp;&nbsp; 3763 | 3599503 |
| Black Hills Corp., 5.95%, 03/15/28 | &nbsp;&nbsp; 1575 | 1625495 |
| CenterPoint Energy Houston Electric LLC, 5.20%, <br> 10/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 1065 | 1085107 |
| Commonwealth Edison Co., 3.70%, 08/15/28 | &nbsp;&nbsp; 2200 | 2125083 |
| Consolidated Edison Co. of New York Inc. |  |  |
| 3.80%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1711 | 1662278 |
| Series D, 4.00%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2405 | 2349658 |
| Constellation Energy Generation LLC, 5.60%, <br> 03/01/28<br>| &nbsp;&nbsp; 4635 | 4755678 |
| Consumers Energy Co. |  |  |
| 3.80%, 11/15/28 | &nbsp;&nbsp; 1616 | 1564757 |
| 4.65%, 03/01/28 | &nbsp;&nbsp; 1666 | 1670355 |
| Dominion Energy Inc., 4.25%, 06/01/28 | &nbsp;&nbsp; 2323 | 2289039 |
| DTE Electric Co., Series A, 1.90%, 04/01/28 | &nbsp;&nbsp; 3231 | 2959216 |
| DTE Energy Co., 4.88%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4395 | 4401232 |
| Duke Energy Carolinas LLC |  |  |
| 3.95%, 11/15/28 | &nbsp;&nbsp; 2914 | 2842254 |
| Series A, 6.00%, 12/01/28 | &nbsp;&nbsp; 850 | 891325 |
| Duke Energy Corp., 4.30%, 03/15/28 | &nbsp;&nbsp; 4270 | 4209270 |
| Duke Energy Florida LLC, 3.80%, 07/15/28 | &nbsp;&nbsp; 2622 | 2554183 |
| Duke Energy Progress LLC, 3.70%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2057 | 1990956 |
| Edison International |  |  |
| 4.13%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2706 | 2640889 |
| 5.25%, 11/15/28 | &nbsp;&nbsp; 3550 | 3576161 |
| Enel Chile SA, 4.88%, 06/12/28<sup>(a)</sup> | &nbsp;&nbsp; 3731 | 3691936 |
| Entergy Arkansas LLC, 4.00%, 06/01/28 | &nbsp;&nbsp; 1337 | 1305781 |
| Entergy Corp., 1.90%, 06/15/28 | &nbsp;&nbsp; 3081 | 2784790 |
| Entergy Louisiana LLC, 3.25%, 04/01/28 | &nbsp;&nbsp; 2146 | 2049825 |
| Entergy Mississippi LLC, 2.85%, 06/01/28 | &nbsp;&nbsp; 1890 | 1774898 |
| Eversource Energy |  |  |
| 5.45%, 03/01/28 | &nbsp;&nbsp; 6900 | 7038037 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Series M, 3.30%, 01/15/28 | &nbsp;&nbsp; $2180 | $2076737 |
| Exelon Corp., 5.15%, 03/15/28 | &nbsp;&nbsp; 5155 | 5210419 |
| Florida Power & Light Co. |  |  |
| 4.40%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3000 | 2983214 |
| 5.05%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4290 | 4348765 |
| Georgia Power Co., 4.65%, 05/16/28 | &nbsp;&nbsp; 4040 | 4043894 |
| Indiana Michigan Power Co., 3.85%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1546 | 1499753 |
| Interstate Power & Light Co., 4.10%, 09/26/28 | &nbsp;&nbsp; 2810 | 2741694 |
| Mississippi Power Co., 3.95%, 03/30/28 | &nbsp;&nbsp; 1350 | 1312157 |
| National Grid PLC, 5.60%, 06/12/28<sup>(a)</sup> | &nbsp;&nbsp; 3735 | 3824810 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 3.40%, 02/07/28 | &nbsp;&nbsp; 3289 | 3167200 |
| 3.90%, 11/01/28 | &nbsp;&nbsp; 2073 | 2011820 |
| 4.80%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2562 | 2577309 |
| 5.05%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1765 | 1789623 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 1.90%, 06/15/28 | &nbsp;&nbsp; 6920 | 6262474 |
| 4.90%, 02/28/28 | &nbsp;&nbsp; 5655 | 5679056 |
| Oklahoma Gas & Electric Co., 3.80%, 08/15/28 | &nbsp;&nbsp; 1721 | 1664721 |
| Oncor Electric Delivery Co. LLC |  |  |
| 3.70%, 11/15/28 | &nbsp;&nbsp; 3335 | 3229296 |
| 4.30%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1680 | 1665735 |
| Pacific Gas and Electric Co. |  |  |
| 3.00%, 06/15/28 | &nbsp;&nbsp; 4347 | 4070231 |
| 3.75%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4172 | 4004080 |
| 4.65%, 08/01/28 | &nbsp;&nbsp; 1493 | 1475855 |
| Public Service Co. of Colorado, 3.70%, 06/15/28 | &nbsp;&nbsp; 1620 | 1567664 |
| Public Service Electric & Gas Co. |  |  |
| 3.65%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1530 | 1479650 |
| 3.70%, 05/01/28 | &nbsp;&nbsp; 1240 | 1202468 |
| Public Service Enterprise Group Inc., 5.88%, <br> 10/15/28<br>| &nbsp;&nbsp; 3240 | 3361424 |
| Puget Energy Inc., 2.38%, 06/15/28 | &nbsp;&nbsp; 2392 | 2172738 |
| San Diego Gas & Electric Co., 4.95%, 08/15/28 | &nbsp;&nbsp; 3680 | 3717170 |
| Sempra, 3.40%, 02/01/28 | &nbsp;&nbsp; 5010 | 4791116 |
| Southern California Edison Co. |  |  |
| 5.30%, 03/01/28 | &nbsp;&nbsp; 3695 | 3760637 |
| 5.65%, 10/01/28 | &nbsp;&nbsp; 2260 | 2330484 |
| Series B, 3.65%, 03/01/28 | &nbsp;&nbsp; 1581 | 1526199 |
| Southern Co. (The) |  |  |
| 4.85%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4060 | 4091716 |
| Series 21-B, 1.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1665 | 1510375 |
| Southwestern Electric Power Co., Series M, <br> 4.10%, 09/15/28<br>| &nbsp;&nbsp; 2768 | 2697137 |
| System Energy Resources Inc., 6.00%, 04/15/28 | &nbsp;&nbsp; 1415 | 1459164 |
| Virginia Electric & Power Co., Series A, 3.80%, <br> 04/01/28<br>| &nbsp;&nbsp; 3312 | 3226565 |
| WEC Energy Group Inc. |  |  |
| 2.20%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2734 | 2474585 |
| 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2965 | 2974954 |
| Wisconsin Electric Power Co., 1.70%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 600 | 544000 |
| Xcel Energy Inc., 4.00%, 06/15/28 | &nbsp;&nbsp; 3780 | 3669679 |
|  |  | 196669501 |
| **Electronics — 1.0%** | **Electronics — 1.0%** | **Electronics — 1.0%** |
| Arrow Electronics Inc., 3.88%, 01/12/28<sup>(a)</sup> | &nbsp;&nbsp; 2461 | 2374992 |
| Avnet Inc., 6.25%, 03/15/28 | &nbsp;&nbsp; 2323 | 2397601 |
| Flex Ltd., 6.00%, 01/15/28 | &nbsp;&nbsp; 1840 | 1884673 |
| Honeywell International Inc., 4.95%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3260 | 3320799 |
| Hubbell Inc., 3.50%, 02/15/28 | &nbsp;&nbsp; 2310 | 2221232 |
| Jabil Inc., 3.95%, 01/12/28 | &nbsp;&nbsp; 2724 | 2639582 |
| TD SYNNEX Corp., 2.38%, 08/09/28 | &nbsp;&nbsp; 2320 | 2109901 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| Trimble Inc., 4.90%, 06/15/28 | &nbsp;&nbsp; $3099 | $3098680 |
| Vontier Corp., 2.40%, 04/01/28 | &nbsp;&nbsp; 2343 | 2124042 |
|  |  | 22171502 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| Jacobs Engineering Group Inc., 6.35%, 08/18/28 | &nbsp;&nbsp; 2475 | 2579932 |
| **Environmental Control — 0.8%** | **Environmental Control — 0.8%** | **Environmental Control — 0.8%** |
| Republic Services Inc., 3.95%, 05/15/28 | &nbsp;&nbsp; 4163 | 4067876 |
| Veralto Corp., 5.35%, 09/18/28 | &nbsp;&nbsp; 3190 | 3248058 |
| Waste Connections Inc., 4.25%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2708 | 2663603 |
| Waste Management Inc. |  |  |
| 1.15%, 03/15/28 | &nbsp;&nbsp; 3017 | 2697759 |
| 4.50%, 03/15/28 | &nbsp;&nbsp; 4550 | 4542265 |
|  |  | 17219561 |
| **Food — 1.8%** | **Food — 1.8%** | **Food — 1.8%** |
| Campbell Soup Co., 4.15%, 03/15/28 | &nbsp;&nbsp; 5373 | 5272089 |
| Conagra Brands Inc. |  |  |
| 4.85%, 11/01/28 | &nbsp;&nbsp; 7197 | 7170665 |
| 7.00%, 10/01/28 | &nbsp;&nbsp; 1597 | 1708458 |
| General Mills Inc. |  |  |
| 4.20%, 04/17/28 | &nbsp;&nbsp; 6712 | 6596714 |
| 5.50%, 10/17/28<sup>(a)</sup> | &nbsp;&nbsp; 2790 | 2864067 |
| Hershey Co. (The), 4.25%, 05/04/28<sup>(a)</sup> | &nbsp;&nbsp; 1645 | 1637303 |
| Hormel Foods Corp., 1.70%, 06/03/28 | &nbsp;&nbsp; 4205 | 3807323 |
| J.M. Smucker Co. (The), 5.90%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4160 | 4339276 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL, 5.13%, 02/01/28<br>| &nbsp;&nbsp; 4297 | 4286540 |
| Kellanova, 4.30%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2907 | 2873993 |
| Mondelez International Inc., 4.13%, 05/07/28<sup>(a)</sup> | &nbsp;&nbsp; 1620 | 1593247 |
|  |  | 42149675 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| Suzano Austria GmbH, 2.50%, 09/15/28 | &nbsp;&nbsp; 2295 | 2072391 |
| **Gas — 0.7%** | **Gas — 0.7%** | **Gas — 0.7%** |
| CenterPoint Energy Resources Corp. |  |  |
| 4.00%, 04/01/28 | &nbsp;&nbsp; 1355 | 1321573 |
| 5.25%, 03/01/28 | &nbsp;&nbsp; 4425 | 4496274 |
| National Fuel Gas Co., 4.75%, 09/01/28 | &nbsp;&nbsp; 937 | 922545 |
| NiSource Inc., 5.25%, 03/30/28 | &nbsp;&nbsp; 5265 | 5339381 |
| Southwest Gas Corp. |  |  |
| 3.70%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1123 | 1077729 |
| 5.45%, 03/23/28 | &nbsp;&nbsp; 1740 | 1764565 |
|  |  | 14922067 |
| **Hand & Machine Tools — 0.5%** | **Hand & Machine Tools — 0.5%** | **Hand & Machine Tools — 0.5%** |
| Kennametal Inc., 4.63%, 06/15/28 | &nbsp;&nbsp; 976 | 962608 |
| Regal Rexnord Corp., 6.05%, 04/15/28 | &nbsp;&nbsp; 5830 | 5962007 |
| Stanley Black & Decker Inc. |  |  |
| 4.25%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2351 | 2306236 |
| 6.00%, 03/06/28<sup>(a)</sup> | &nbsp;&nbsp; 2514 | 2610807 |
|  |  | 11841658 |
| **Health Care - Products — 1.4%** | **Health Care - Products — 1.4%** | **Health Care - Products — 1.4%** |
| Abbott Laboratories, 1.15%, 01/30/28 | &nbsp;&nbsp; 3485 | 3149702 |
| Baxter International Inc., 2.27%, 12/01/28 | &nbsp;&nbsp; 6025 | 5421692 |
| Boston Scientific Corp., 4.00%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2020 | 1975833 |
| Edwards Lifesciences Corp., 4.30%, 06/15/28 | &nbsp;&nbsp; 2662 | 2614444 |
| Medtronic Global Holdings SCA, 4.25%, 03/30/28 | &nbsp;&nbsp; 5665 | 5632345 |
| Revvity Inc., 1.90%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2200 | 1969624 |
| Stryker Corp. |  |  |
| 3.65%, 03/07/28 | &nbsp;&nbsp; 3430 | 3323383 |
| 4.85%, 12/08/28 | &nbsp;&nbsp; 2925 | 2942530 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products (continued)** | **Health Care - Products (continued)** | **Health Care - Products (continued)** |
| Thermo Fisher Scientific Inc., 1.75%, 10/15/28 | &nbsp;&nbsp; $3890 | $3502740 |
| Zimmer Biomet Holdings Inc., 5.35%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2485 | 2534187 |
|  |  | 33066480 |
| **Health Care - Services — 3.1%** | **Health Care - Services — 3.1%** | **Health Care - Services — 3.1%** |
| Advocate Health & Hospitals Corp., 3.83%, <br> 08/15/28<br>| &nbsp;&nbsp; 515 | 501403 |
| Bon Secours Mercy Health Inc., Series 2018, <br> 4.30%, 07/01/28<br>| &nbsp;&nbsp; 773 | 761012 |
| Centene Corp., 2.45%, 07/15/28 | &nbsp;&nbsp; 10310 | 9279020 |
| CHRISTUS Health, Series C, 4.34%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1039 | 1020958 |
| Cigna Group (The), 4.38%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 17080 | 16776498 |
| Elevance Health Inc., 4.10%, 03/01/28 | &nbsp;&nbsp; 6651 | 6520015 |
| HCA Inc. |  |  |
| 5.20%, 06/01/28 | &nbsp;&nbsp; 4950 | 4994572 |
| 5.63%, 09/01/28 | &nbsp;&nbsp; 7416 | 7564380 |
| Humana Inc. |  |  |
| 5.75%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2508 | 2561899 |
| 5.75%, 12/01/28 | &nbsp;&nbsp; 2520 | 2584164 |
| IQVIA Inc., 5.70%, 05/15/28 | &nbsp;&nbsp; 4130 | 4217554 |
| SSM Health Care Corp., 4.89%, 06/01/28 | &nbsp;&nbsp; 615 | 615388 |
| Sutter Health, Series 2018, 3.70%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 485 | 466010 |
| UnitedHealth Group Inc. |  |  |
| 3.85%, 06/15/28 | &nbsp;&nbsp; 5346 | 5221687 |
| 3.88%, 12/15/28 | &nbsp;&nbsp; 4192 | 4084824 |
| 5.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4615 | 4715987 |
|  |  | 71885371 |
| **Holding Companies - Diversified — 1.2%** | **Holding Companies - Diversified — 1.2%** | **Holding Companies - Diversified — 1.2%** |
| Ares Capital Corp., 2.88%, 06/15/28 | &nbsp;&nbsp; 6422 | 5862045 |
| Blackstone Private Credit Fund, 7.30%, 11/27/28<sup>(c)</sup> | &nbsp;&nbsp; 1915 | 2008654 |
| Blackstone Secured Lending Fund |  |  |
| 2.85%, 09/30/28 | &nbsp;&nbsp; 3438 | 3105363 |
| 5.35%, 04/13/28 | &nbsp;&nbsp; 1095 | 1087207 |
| Blue Owl Capital Corp., 2.88%, 06/11/28<sup>(a)</sup> | &nbsp;&nbsp; 4170 | 3763356 |
| Blue Owl Credit Income Corp., 7.95%, 06/13/28 | &nbsp;&nbsp; 3187 | 3361403 |
| FS KKR Capital Corp., 3.13%, 10/12/28<sup>(a)</sup> | &nbsp;&nbsp; 3365 | 3027351 |
| Golub Capital BDC Inc., 7.05%, 12/05/28 | &nbsp;&nbsp; 1940 | 2014153 |
| Prospect Capital Corp., 3.44%, 10/15/28 | &nbsp;&nbsp; 1461 | 1263955 |
| Sixth Street Specialty Lending Inc., 6.95%, <br> 08/14/28<br>| &nbsp;&nbsp; 1735 | 1800444 |
|  |  | 27293931 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| Toll Brothers Finance Corp., 4.35%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2675 | 2626698 |
| **Household Products & Wares — 0.3%** | **Household Products & Wares — 0.3%** | **Household Products & Wares — 0.3%** |
| Avery Dennison Corp., 4.88%, 12/06/28 | &nbsp;&nbsp; 2793 | 2794655 |
| Clorox Co. (The), 3.90%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2914 | 2845361 |
| Kimberly-Clark Corp., 3.95%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2380 | 2334283 |
|  |  | 7974299 |
| **Insurance — 1.9%** | **Insurance — 1.9%** | **Insurance — 1.9%** |
| American International Group Inc., 4.20%, <br> 04/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 1931 | 1893049 |
| Aon Corp., 4.50%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2014 | 1995262 |
| Assurant Inc., 4.90%, 03/27/28 | &nbsp;&nbsp; 1830 | 1820733 |
| Assured Guaranty U.S. Holdings Inc., 6.13%, <br> 09/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2245 | 2343519 |
| Athene Holding Ltd., 4.13%, 01/12/28 | &nbsp;&nbsp; 4811 | 4678448 |
| Cincinnati Financial Corp., 6.92%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1738 | 1858764 |
| Equitable Holdings Inc., 4.35%, 04/20/28 | &nbsp;&nbsp; 7405 | 7260874 |
| F&G Annuities & Life Inc., 7.40%, 01/13/28 | &nbsp;&nbsp; 2605 | 2709655 |
| Fairfax Financial Holdings Ltd., 4.85%, 04/17/28 | &nbsp;&nbsp; 2742 | 2730537 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Fidelity National Financial Inc., 4.50%, 08/15/28 | &nbsp;&nbsp; $1931 | $1900253 |
| Globe Life Inc., 4.55%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2994 | 2954997 |
| Horace Mann Educators Corp., 7.25%, 09/15/28 | &nbsp;&nbsp; 1535 | 1641773 |
| Lincoln National Corp., 3.80%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1199 | 1160694 |
| MGIC Investment Corp., 5.25%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3280 | 3231868 |
| Prudential Financial Inc., 3.88%, 03/27/28 | &nbsp;&nbsp; 2450 | 2388096 |
| Willis North America Inc., 4.50%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2910 | 2865493 |
|  |  | 43434015 |
| **Internet — 2.0%** | **Internet — 2.0%** | **Internet — 2.0%** |
| Amazon.com Inc., 1.65%, 05/12/28 | &nbsp;&nbsp; 10375 | 9445593 |
| Baidu Inc. |  |  |
| 4.38%, 03/29/28 | &nbsp;&nbsp; 610 | 602204 |
| 4.88%, 11/14/28 | &nbsp;&nbsp; 920 | 921948 |
| Booking Holdings Inc., 3.55%, 03/15/28 | &nbsp;&nbsp; 2794 | 2707701 |
| Expedia Group Inc., 3.80%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4812 | 4658804 |
| Meta Platforms Inc., 4.60%, 05/15/28 | &nbsp;&nbsp; 8720 | 8777753 |
| Netflix Inc. |  |  |
| 4.88%, 04/15/28 | &nbsp;&nbsp; 7690 | 7733215 |
| 5.88%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 9477 | 9894311 |
|  |  | 44741529 |
| **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** |
| Nucor Corp., 3.95%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2945 | 2879692 |
| **Lodging — 0.8%** | **Lodging — 0.8%** | **Lodging — 0.8%** |
| Hyatt Hotels Corp., 4.38%, 09/15/28 | &nbsp;&nbsp; 2558 | 2500952 |
| Marriott International Inc./MD |  |  |
| 5.55%, 10/15/28 | &nbsp;&nbsp; 3630 | 3731846 |
| Series AA, 4.65%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1463 | 1456927 |
| Series X, 4.00%, 04/15/28 | &nbsp;&nbsp; 2841 | 2774083 |
| Sands China Ltd., 5.40%, 08/08/28 | &nbsp;&nbsp; 7930 | 7893377 |
|  |  | 18357185 |
| **Machinery — 1.8%** | **Machinery — 1.8%** | **Machinery — 1.8%** |
| ABB Finance USA Inc., 3.80%, 04/03/28 | &nbsp;&nbsp; 764 | 749636 |
| CNH Industrial Capital LLC, 4.55%, 04/10/28 | &nbsp;&nbsp; 3017 | 2993035 |
| Ingersoll Rand Inc., 5.40%, 08/14/28 | &nbsp;&nbsp; 2400 | 2453961 |
| John Deere Capital Corp. |  |  |
| 1.50%, 03/06/28 | &nbsp;&nbsp; 1936 | 1755032 |
| 3.05%, 01/06/28 | &nbsp;&nbsp; 1331 | 1278820 |
| 4.75%, 01/20/28<sup>(a)</sup> | &nbsp;&nbsp; 4755 | 4795125 |
| 4.90%, 03/03/28 | &nbsp;&nbsp; 2650 | 2679164 |
| 4.95%, 07/14/28<sup>(a)</sup> | &nbsp;&nbsp; 6775 | 6865480 |
| Nordson Corp., 5.60%, 09/15/28 | &nbsp;&nbsp; 1955 | 2009240 |
| nVent Finance SARL, 4.55%, 04/15/28 | &nbsp;&nbsp; 1889 | 1872575 |
| Oshkosh Corp., 4.60%, 05/15/28 | &nbsp;&nbsp; 1614 | 1596262 |
| Otis Worldwide Corp., 5.25%, 08/16/28 | &nbsp;&nbsp; 3920 | 3988576 |
| Westinghouse Air Brake Technologies Corp., <br> 4.70%, 09/15/28<br>| &nbsp;&nbsp; 6523 | 6492187 |
| Xylem Inc./New York, 1.95%, 01/30/28<sup>(a)</sup> | &nbsp;&nbsp; 2518 | 2320057 |
|  |  | 41849150 |
| **Manufacturing — 0.5%** | **Manufacturing — 0.5%** | **Manufacturing — 0.5%** |
| 3M Co., 3.63%, 09/14/28<sup>(a)</sup> | &nbsp;&nbsp; 2474 | 2389499 |
| Eaton Corp., 4.35%, 05/18/28<sup>(a)</sup> | &nbsp;&nbsp; 3560 | 3542517 |
| Teledyne Technologies Inc., 2.25%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3411 | 3146524 |
| Textron Inc., 3.38%, 03/01/28 | &nbsp;&nbsp; 1445 | 1376624 |
|  |  | 10455164 |
| **Media — 2.6%** | **Media — 2.6%** | **Media — 2.6%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| 3.75%, 02/15/28 | &nbsp;&nbsp; 4966 | 4726224 |
| 4.20%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 6335 | 6108333 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Comcast Corp. |  |  |
| 3.15%, 02/15/28 | &nbsp;&nbsp; $7938 | $7582661 |
| 3.55%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4824 | 4654399 |
| 4.15%, 10/15/28 | &nbsp;&nbsp; 17683 | 17360477 |
| Discovery Communications LLC, 3.95%, 03/20/28 | &nbsp;&nbsp; 8467 | 7989651 |
| Paramount Global |  |  |
| 3.38%, 02/15/28 | &nbsp;&nbsp; 1448 | 1345593 |
| 3.70%, 06/01/28 | &nbsp;&nbsp; 1473 | 1377876 |
| TCI Communications Inc., 7.13%, 02/15/28 | &nbsp;&nbsp; 1424 | 1526078 |
| Walt Disney Co. (The), 2.20%, 01/13/28<sup>(a)</sup> | &nbsp;&nbsp; 6524 | 6093035 |
|  |  | 58764327 |
| **Metal Fabricate & Hardware — 0.1%** | **Metal Fabricate & Hardware — 0.1%** | **Metal Fabricate & Hardware — 0.1%** |
| Timken Co. (The), 4.50%, 12/15/28 | &nbsp;&nbsp; 2028 | 1978125 |
| **Mining — 0.9%** | **Mining — 0.9%** | **Mining — 0.9%** |
| AngloGold Ashanti Holdings PLC, 3.38%, 11/01/28 | &nbsp;&nbsp; 3606 | 3326488 |
| BHP Billiton Finance USA Ltd. |  |  |
| 4.75%, 02/28/28<sup>(a)</sup> | &nbsp;&nbsp; 4335 | 4356761 |
| 5.10%, 09/08/28 | &nbsp;&nbsp; 3620 | 3674280 |
| Freeport-McMoRan Inc. |  |  |
| 4.13%, 03/01/28 | &nbsp;&nbsp; 2525 | 2457239 |
| 4.38%, 08/01/28 | &nbsp;&nbsp; 2402 | 2341065 |
| Rio Tinto Finance USA Ltd., 7.13%, 07/15/28 | &nbsp;&nbsp; 3695 | 3996734 |
|  |  | 20152567 |
| **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** |
| CDW LLC/CDW Finance Corp. |  |  |
| 3.28%, 12/01/28 | &nbsp;&nbsp; 2435 | 2268011 |
| 4.25%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3792 | 3689958 |
|  |  | 5957969 |
| **Oil & Gas — 2.8%** | **Oil & Gas — 2.8%** | **Oil & Gas — 2.8%** |
| Apache Corp., 4.38%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1340 | 1294150 |
| BP Capital Markets America Inc. |  |  |
| 3.94%, 09/21/28 | &nbsp;&nbsp; 4607 | 4486437 |
| 4.23%, 11/06/28 | &nbsp;&nbsp; 8966 | 8818805 |
| BP Capital Markets PLC, 3.72%, 11/28/28 | &nbsp;&nbsp; 3523 | 3395952 |
| Chevron USA Inc., 3.85%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2763 | 2722576 |
| Continental Resources Inc./OK, 4.38%, 01/15/28 | &nbsp;&nbsp; 5197 | 5041290 |
| Devon Energy Corp., 5.88%, 06/15/28 | &nbsp;&nbsp; 1294 | 1303413 |
| EQT Corp., 5.70%, 04/01/28 | &nbsp;&nbsp; 2670 | 2719842 |
| Expand Energy Corp., 8.38%, 09/15/28 | &nbsp;&nbsp; 30 | 30866 |
| HF Sinclair Corp., 5.00%, 02/01/28 | &nbsp;&nbsp; 2840 | 2811935 |
| Marathon Petroleum Corp., 3.80%, 04/01/28 | &nbsp;&nbsp; 2102 | 2034903 |
| Occidental Petroleum Corp., 6.38%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3225 | 3339380 |
| Ovintiv Inc., 5.65%, 05/15/28 | &nbsp;&nbsp; 3750 | 3799746 |
| Patterson-UTI Energy Inc., 3.95%, 02/01/28 | &nbsp;&nbsp; 2135 | 2034149 |
| Phillips 66, 3.90%, 03/15/28 | &nbsp;&nbsp; 4045 | 3936088 |
| Phillips 66 Co., 3.75%, 03/01/28 | &nbsp;&nbsp; 1869 | 1809427 |
| Shell International Finance BV, 3.88%, 11/13/28 | &nbsp;&nbsp; 7575 | 7392695 |
| TotalEnergies Capital SA, 3.88%, 10/11/28<sup>(a)</sup> | &nbsp;&nbsp; 4721 | 4605352 |
| Valero Energy Corp., 4.35%, 06/01/28 | &nbsp;&nbsp; 2781 | 2743046 |
|  |  | 64320052 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| Schlumberger Investment SA, 4.50%, 05/15/28 | &nbsp;&nbsp; 1030 | 1028435 |
| **Packaging & Containers — 0.4%** | **Packaging & Containers — 0.4%** | **Packaging & Containers — 0.4%** |
| Amcor Finance USA Inc., 4.50%, 05/15/28 | &nbsp;&nbsp; 2177 | 2138151 |
| Berry Global Inc., 5.50%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2195 | 2221407 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| WRKCo Inc. |  |  |
| 3.90%, 06/01/28 | &nbsp;&nbsp; $2483 | $2395304 |
| 4.00%, 03/15/28 | &nbsp;&nbsp; 2911 | 2829956 |
|  |  | 9584818 |
| **Pharmaceuticals — 5.5%** | **Pharmaceuticals — 5.5%** | **Pharmaceuticals — 5.5%** |
| AbbVie Inc., 4.25%, 11/14/28<sup>(a)</sup> | &nbsp;&nbsp; 8850 | 8761157 |
| Astrazeneca Finance LLC |  |  |
| 1.75%, 05/28/28 | &nbsp;&nbsp; 6319 | 5735270 |
| 4.88%, 03/03/28 | &nbsp;&nbsp; 5646 | 5699921 |
| Becton Dickinson & Co., 4.69%, 02/13/28 | &nbsp;&nbsp; 4071 | 4068578 |
| Bristol-Myers Squibb Co., 3.90%, 02/20/28 | &nbsp;&nbsp; 7847 | 7701706 |
| CVS Health Corp., 4.30%, 03/25/28 | &nbsp;&nbsp; 21463 | 20925393 |
| GlaxoSmithKline Capital Inc., 3.88%, 05/15/28 | &nbsp;&nbsp; 8846 | 8665088 |
| Johnson & Johnson, 2.90%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 7171 | 6869243 |
| McKesson Corp. |  |  |
| 3.95%, 02/16/28 | &nbsp;&nbsp; 1931 | 1890670 |
| 4.90%, 07/15/28 | &nbsp;&nbsp; 2659 | 2684370 |
| Merck & Co. Inc. |  |  |
| 1.90%, 12/10/28 | &nbsp;&nbsp; 5147 | 4660700 |
| 4.05%, 05/17/28<sup>(a)</sup> | &nbsp;&nbsp; 1655 | 1640568 |
| Merck Sharp & Dohme Corp., 5.95%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1873 | 1970531 |
| Mylan Inc., 4.55%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4168 | 4083107 |
| Pfizer Inc., 3.60%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3595 | 3492598 |
| Pfizer Investment Enterprises Pte Ltd., 4.45%, <br> 05/19/28<sup>(a)</sup><br>| &nbsp;&nbsp; 18985 | 18915364 |
| Pharmacia LLC, 6.60%, 12/01/28 | &nbsp;&nbsp; 3080 | 3296905 |
| Sanofi SA, 3.63%, 06/19/28 | &nbsp;&nbsp; 3853 | 3744750 |
| Takeda Pharmaceutical Co. Ltd., 5.00%, <br> 11/26/28<sup>(a)</sup><br>| &nbsp;&nbsp; 8852 | 8934427 |
| Zoetis Inc., 3.90%, 08/20/28 | &nbsp;&nbsp; 2746 | 2673398 |
|  |  | 126413744 |
| **Pipelines — 3.7%** | **Pipelines — 3.7%** | **Pipelines — 3.7%** |
| Cheniere Energy Inc., 4.63%, 10/15/28 | &nbsp;&nbsp; 8230 | 8071554 |
| Enbridge Inc., 6.00%, 11/15/28 | &nbsp;&nbsp; 2405 | 2508216 |
| Energy Transfer LP |  |  |
| 4.95%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3892 | 3898943 |
| 4.95%, 06/15/28 | &nbsp;&nbsp; 4769 | 4778910 |
| 5.55%, 02/15/28 | &nbsp;&nbsp; 4493 | 4584195 |
| 6.10%, 12/01/28 | &nbsp;&nbsp; 2150 | 2240586 |
| Enterprise Products Operating LLC, 4.15%, <br> 10/16/28<sup>(a)</sup><br>| &nbsp;&nbsp; 5845 | 5727134 |
| Kinder Morgan Inc., 4.30%, 03/01/28 | &nbsp;&nbsp; 6047 | 5957563 |
| MPLX LP, 4.00%, 03/15/28 | &nbsp;&nbsp; 6204 | 6037265 |
| ONEOK Inc. |  |  |
| 4.55%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3448 | 3408156 |
| 5.65%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 3950 | 4055006 |
| Sabine Pass Liquefaction LLC, 4.20%, 03/15/28 | &nbsp;&nbsp; 6950 | 6806864 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp., 5.00%, 01/15/28<br>| &nbsp;&nbsp; 4375 | 4358646 |
| Tennessee Gas Pipeline Co. LLC, 7.00%, <br> 10/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2068 | 2216651 |
| TransCanada PipeLines Ltd., 4.25%, 05/15/28 | &nbsp;&nbsp; 6961 | 6824073 |
| Transcontinental Gas Pipe Line Co. LLC, 4.00%, <br> 03/15/28<br>| &nbsp;&nbsp; 1615 | 1570639 |
| Valero Energy Partners LP, 4.50%, 03/15/28 | &nbsp;&nbsp; 2643 | 2615519 |
| Western Midstream Operating LP |  |  |
| 4.50%, 03/01/28 | &nbsp;&nbsp; 1890 | 1844586 |
| 4.75%, 08/15/28 | &nbsp;&nbsp; 1780 | 1747894 |
| Williams Companies Inc. (The), 5.30%, 08/15/28 | &nbsp;&nbsp; 5005 | 5080766 |
|  |  | 84333166 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| Jones Lang LaSalle Inc., 6.88%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; $2070 | $2205891 |
| **Real Estate Investment Trusts — 6.6%** | **Real Estate Investment Trusts — 6.6%** | **Real Estate Investment Trusts — 6.6%** |
| Agree LP, 2.00%, 06/15/28 | &nbsp;&nbsp; 2172 | 1959045 |
| Alexandria Real Estate Equities Inc., 3.95%, <br> 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2410 | 2344781 |
| American Homes 4 Rent LP, 4.25%, 02/15/28 | &nbsp;&nbsp; 2827 | 2764114 |
| American Tower Corp. |  |  |
| 1.50%, 01/31/28 | &nbsp;&nbsp; 2674 | 2410946 |
| 3.60%, 01/15/28 | &nbsp;&nbsp; 3096 | 2982339 |
| 5.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3575 | 3616782 |
| 5.50%, 03/15/28 | &nbsp;&nbsp; 2969 | 3024209 |
| 5.80%, 11/15/28 | &nbsp;&nbsp; 4500 | 4641950 |
| AvalonBay Communities Inc. |  |  |
| 1.90%, 12/01/28 | &nbsp;&nbsp; 1460 | 1306689 |
| 3.20%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2222 | 2124818 |
| Boston Properties LP, 4.50%, 12/01/28 | &nbsp;&nbsp; 5129 | 4974347 |
| Brixmor Operating Partnership LP, 2.25%, <br> 04/01/28<br>| &nbsp;&nbsp; 1604 | 1461035 |
| Camden Property Trust, 4.10%, 10/15/28 | &nbsp;&nbsp; 1977 | 1929631 |
| Crown Castle Inc. |  |  |
| 3.80%, 02/15/28 | &nbsp;&nbsp; 5093 | 4920491 |
| 4.80%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2990 | 2973518 |
| 5.00%, 01/11/28 | &nbsp;&nbsp; 4785 | 4790560 |
| CubeSmart LP, 2.25%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2720 | 2456367 |
| Digital Realty Trust LP |  |  |
| 4.45%, 07/15/28 | &nbsp;&nbsp; 2907 | 2868567 |
| 5.55%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4864 | 4966326 |
| DOC DR LLC, 3.95%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1395 | 1356017 |
| EPR Properties, 4.95%, 04/15/28 | &nbsp;&nbsp; 992 | 975325 |
| Equinix Inc. |  |  |
| 1.55%, 03/15/28 | &nbsp;&nbsp; 3092 | 2787653 |
| 2.00%, 05/15/28 | &nbsp;&nbsp; 2055 | 1867131 |
| ERP Operating LP |  |  |
| 3.50%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2551 | 2462096 |
| 4.15%, 12/01/28 | &nbsp;&nbsp; 2311 | 2268791 |
| Essex Portfolio LP, 1.70%, 03/01/28 | &nbsp;&nbsp; 2382 | 2152613 |
| Extra Space Storage LP, 5.70%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2800 | 2868831 |
| Federal Realty OP LP, 5.38%, 05/01/28 | &nbsp;&nbsp; 1385 | 1401520 |
| GLP Capital LP/GLP Financing II Inc., 5.75%, <br> 06/01/28<br>| &nbsp;&nbsp; 2845 | 2887365 |
| Healthpeak OP LLC, 2.13%, 12/01/28 | &nbsp;&nbsp; 2969 | 2677980 |
| Highwoods Realty LP, 4.13%, 03/15/28 | &nbsp;&nbsp; 1184 | 1133444 |
| Invitation Homes Operating Partnership LP, 2.30%, <br> 11/15/28<br>| &nbsp;&nbsp; 3110 | 2815389 |
| Kilroy Realty LP, 4.75%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2282 | 2231826 |
| Kimco Realty OP LLC, 1.90%, 03/01/28 | &nbsp;&nbsp; 2104 | 1916438 |
| LXP Industrial Trust, 6.75%, 11/15/28 | &nbsp;&nbsp; 1608 | 1687741 |
| Mid-America Apartments LP, 4.20%, 06/15/28 | &nbsp;&nbsp; 2039 | 2004750 |
| NNN REIT Inc., 4.30%, 10/15/28 | &nbsp;&nbsp; 1538 | 1511866 |
| Omega Healthcare Investors Inc., 4.75%, 01/15/28 | &nbsp;&nbsp; 3238 | 3192687 |
| Piedmont Operating Partnership LP, 9.25%, <br> 07/20/28<br>| &nbsp;&nbsp; 1835 | 2018836 |
| Prologis LP |  |  |
| 3.88%, 09/15/28 | &nbsp;&nbsp; 1745 | 1697960 |
| 4.00%, 09/15/28 | &nbsp;&nbsp; 2233 | 2183183 |
| 4.88%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3710 | 3742154 |
| Public Storage Operating Co. |  |  |
| 1.85%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2998 | 2736241 |
| 1.95%, 11/09/28<sup>(a)</sup> | &nbsp;&nbsp; 2919 | 2635360 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Realty Income Corp. |  |  |
| 2.10%, 03/15/28 | &nbsp;&nbsp; $2090 | $1917186 |
| 2.20%, 06/15/28 | &nbsp;&nbsp; 2505 | 2293319 |
| 3.40%, 01/15/28 | &nbsp;&nbsp; 2726 | 2626153 |
| 3.65%, 01/15/28 | &nbsp;&nbsp; 2251 | 2181121 |
| 4.70%, 12/15/28 | &nbsp;&nbsp; 1950 | 1947241 |
| Regency Centers LP, 4.13%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp; 1595 | 1559865 |
| Retail Opportunity Investments Partnership LP, <br> 6.75%, 10/15/28<sup>(a)</sup><br>| &nbsp;&nbsp; 1270 | 1341467 |
| Rexford Industrial Realty LP, 5.00%, 06/15/28 | &nbsp;&nbsp; 1175 | 1174045 |
| Simon Property Group LP, 1.75%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp; 4787 | 4382867 |
| Store Capital LLC, 4.50%, 03/15/28 | &nbsp;&nbsp; 1980 | 1918884 |
| Sun Communities Operating LP, 2.30%, 11/01/28 | &nbsp;&nbsp; 2582 | 2319890 |
| UDR Inc., 3.50%, 01/15/28 | &nbsp;&nbsp; 1055 | 1009737 |
| Ventas Realty LP, 4.00%, 03/01/28 | &nbsp;&nbsp; 3272 | 3186774 |
| VICI Properties LP, 4.75%, 02/15/28 | &nbsp;&nbsp; 6060 | 6003720 |
| Welltower OP LLC, 4.25%, 04/15/28 | &nbsp;&nbsp; 3695 | 3635604 |
|  |  | 151227585 |
| **Retail — 3.2%** | **Retail — 3.2%** | **Retail — 3.2%** |
| AutoNation Inc., 1.95%, 08/01/28 | &nbsp;&nbsp; 2461 | 2187509 |
| AutoZone Inc. |  |  |
| 4.50%, 02/01/28 | &nbsp;&nbsp; 2540 | 2524334 |
| 6.25%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2705 | 2845841 |
| Best Buy Co. Inc., 4.45%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2706 | 2674348 |
| Dollar General Corp. |  |  |
| 4.13%, 05/01/28 | &nbsp;&nbsp; 2308 | 2247497 |
| 5.20%, 07/05/28<sup>(a)</sup> | &nbsp;&nbsp; 2674 | 2694164 |
| Dollar Tree Inc., 4.20%, 05/15/28 | &nbsp;&nbsp; 6630 | 6434528 |
| Genuine Parts Co., 6.50%, 11/01/28 | &nbsp;&nbsp; 2700 | 2848697 |
| Home Depot Inc. (The) |  |  |
| 0.90%, 03/15/28 | &nbsp;&nbsp; 2188 | 1951429 |
| 1.50%, 09/15/28 | &nbsp;&nbsp; 4715 | 4218905 |
| 3.90%, 12/06/28<sup>(a)</sup> | &nbsp;&nbsp; 4878 | 4772084 |
| Lowe's Companies Inc. |  |  |
| 1.30%, 04/15/28 | &nbsp;&nbsp; 5343 | 4770416 |
| 1.70%, 09/15/28 | &nbsp;&nbsp; 5371 | 4805909 |
| McDonald's Corp. |  |  |
| 3.80%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp; 5700 | 5552364 |
| 4.80%, 08/14/28 | &nbsp;&nbsp; 3455 | 3474108 |
| O'Reilly Automotive Inc., 4.35%, 06/01/28 | &nbsp;&nbsp; 2452 | 2422806 |
| Starbucks Corp. |  |  |
| 3.50%, 03/01/28 | &nbsp;&nbsp; 3421 | 3311100 |
| 4.00%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3860 | 3773334 |
| TJX Companies Inc. (The), 1.15%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp; 2451 | 2190689 |
| Walmart Inc. |  |  |
| 3.70%, 06/26/28 | &nbsp;&nbsp; 5148 | 5043931 |
| 3.90%, 04/15/28 | &nbsp;&nbsp; 3087 | 3045120 |
|  |  | 73789113 |
| **Semiconductors — 2.5%** | **Semiconductors — 2.5%** | **Semiconductors — 2.5%** |
| Analog Devices Inc., 1.70%, 10/01/28 | &nbsp;&nbsp; 4040 | 3630172 |
| Broadcom Corp./Broadcom Cayman Finance Ltd., <br> 3.50%, 01/15/28<br>| &nbsp;&nbsp; 3735 | 3595275 |
| Broadcom Inc. |  |  |
| 1.95%, 02/15/28<sup>(c)</sup> | &nbsp;&nbsp; 3406 | 3116853 |
| 4.11%, 09/15/28 | &nbsp;&nbsp; 5581 | 5455615 |
| 4.15%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3985 | 3912429 |
| Intel Corp. |  |  |
| 1.60%, 08/12/28 | &nbsp;&nbsp; 4960 | 4367759 |
| 4.88%, 02/10/28 | &nbsp;&nbsp; 8465 | 8429704 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| Marvell Technology Inc. |  |  |
| 2.45%, 04/15/28 | &nbsp;&nbsp; $3473 | $3200486 |
| 4.88%, 06/22/28 | &nbsp;&nbsp; 2560 | 2547388 |
| Micron Technology Inc., 5.38%, 04/15/28 | &nbsp;&nbsp; 3270 | 3314947 |
| NVIDIA Corp., 1.55%, 06/15/28 | &nbsp;&nbsp; 5910 | 5361070 |
| NXP BV/NXP Funding LLC, 5.55%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 2372 | 2423085 |
| Qualcomm Inc., 1.30%, 05/20/28 | &nbsp;&nbsp; 4647 | 4159762 |
| Texas Instruments Inc., 4.60%, 02/15/28 | &nbsp;&nbsp; 3262 | 3280798 |
|  |  | 56795343 |
| **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** |
| Huntington Ingalls Industries Inc., 2.04%, <br> 08/16/28<sup>(a)</sup><br>| &nbsp;&nbsp; 2597 | 2341864 |
| **Software — 2.6%** | **Software — 2.6%** | **Software — 2.6%** |
| Concentrix Corp., 6.60%, 08/02/28<sup>(a)</sup> | &nbsp;&nbsp; 3990 | 4045213 |
| Fidelity National Information Services Inc., 1.65%, <br> 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp; 3881 | 3515115 |
| Fiserv Inc. |  |  |
| 4.20%, 10/01/28 | &nbsp;&nbsp; 4867 | 4762544 |
| 5.38%, 08/21/28 | &nbsp;&nbsp; 3215 | 3277241 |
| 5.45%, 03/02/28 | &nbsp;&nbsp; 4595 | 4687687 |
| Intuit Inc., 5.13%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3980 | 4066617 |
| Oracle Corp. |  |  |
| 2.30%, 03/25/28 | &nbsp;&nbsp; 9589 | 8873728 |
| 4.50%, 05/06/28 | &nbsp;&nbsp; 3925 | 3903707 |
| Roper Technologies Inc., 4.20%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp; 3742 | 3678644 |
| Salesforce Inc. |  |  |
| 1.50%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp; 4926 | 4442474 |
| 3.70%, 04/11/28 | &nbsp;&nbsp; 6945 | 6787584 |
| Take-Two Interactive Software Inc., 4.95%, <br> 03/28/28<br>| &nbsp;&nbsp; 4285 | 4300255 |
| VMware LLC, 1.80%, 08/15/28 | &nbsp;&nbsp; 3584 | 3209346 |
|  |  | 59550155 |
| **Telecommunications — 3.9%** | **Telecommunications — 3.9%** | **Telecommunications — 3.9%** |
| AT&T Inc. |  |  |
| 1.65%, 02/01/28 | &nbsp;&nbsp; 10807 | 9819602 |
| 4.10%, 02/15/28 | &nbsp;&nbsp; 8820 | 8665503 |
| British Telecommunications PLC, 5.13%, 12/04/28 | &nbsp;&nbsp; 3550 | 3583174 |
| Motorola Solutions Inc., 4.60%, 02/23/28 | &nbsp;&nbsp; 3050 | 3037553 |
| Sprint Capital Corp., 6.88%, 11/15/28 | &nbsp;&nbsp; 11925 | 12793904 |
| T-Mobile USA Inc. |  |  |
| 2.05%, 02/15/28 | &nbsp;&nbsp; 8307 | 7626505 |
| 4.75%, 02/01/28 | &nbsp;&nbsp; 5353 | 5331671 |
| 4.80%, 07/15/28 | &nbsp;&nbsp; 4135 | 4135236 |
| 4.95%, 03/15/28 | &nbsp;&nbsp; 4660 | 4685069 |
| Verizon Communications Inc. |  |  |
| 2.10%, 03/22/28 | &nbsp;&nbsp; 10424 | 9570953 |
| 4.33%, 09/21/28<sup>(a)</sup> | &nbsp;&nbsp; 17679 | 17434883 |
| Vodafone Group PLC, 4.38%, 05/30/28<sup>(a)</sup> | &nbsp;&nbsp; 3096 | 3090520 |
|  |  | 89774573 |
| **Transportation — 1.8%** | **Transportation — 1.8%** | **Transportation — 1.8%** |
| Canadian National Railway Co., 6.90%, 07/15/28 | &nbsp;&nbsp; 2269 | 2449770 |
| Canadian Pacific Railway Co., 4.00%, 06/01/28 | &nbsp;&nbsp; 2903 | 2839294 |
| CH Robinson Worldwide Inc., 4.20%, 04/15/28 | &nbsp;&nbsp; 3321 | 3251544 |
| CSX Corp., 3.80%, 03/01/28 | &nbsp;&nbsp; 4650 | 4538474 |
| FedEx Corp. |  |  |
| 3.40%, 02/15/28 | &nbsp;&nbsp; 2623 | 2522396 |
| 4.20%, 10/17/28<sup>(a)</sup> | &nbsp;&nbsp; 2114 | 2074761 |
| Kirby Corp., 4.20%, 03/01/28 | &nbsp;&nbsp; 2055 | 1997518 |
| Norfolk Southern Corp., 3.80%, 08/01/28 | &nbsp;&nbsp; 3069 | 2989055 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| Ryder System Inc. |  |  |
| 5.25%, 06/01/28 | &nbsp;&nbsp; $3300 | $3340796 |
| 5.65%, 03/01/28 | &nbsp;&nbsp; 2570 | 2635752 |
| 6.30%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp; 1910 | 2011345 |
| Union Pacific Corp., 3.95%, 09/10/28 | &nbsp;&nbsp; 5805 | 5682609 |
| Walmart Inc., 1.50%, 09/22/28 | &nbsp;&nbsp; 5041 | 4536999 |
|  |  | 40870313 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| GATX Corp. |  |  |
| 3.50%, 03/15/28 | &nbsp;&nbsp; 1492 | 1422244 |
| 4.55%, 11/07/28<sup>(a)</sup> | &nbsp;&nbsp; 1792 | 1767017 |
|  |  | 3189261 |
| **Water — 0.2%** | **Water — 0.2%** | **Water — 0.2%** |
| American Water Capital Corp., 3.75%, 09/01/28 | &nbsp;&nbsp; 2874 | 2776753 |
| United Utilities PLC, 6.88%, 08/15/28 | &nbsp;&nbsp; 1831 | 1953618 |
|  |  | 4730371 |
| **Total Long-Term Investments — 98.6%** <br>**(Cost: $2,255,227,383)** | **Total Long-Term Investments — 98.6%** <br>**(Cost: $2,255,227,383)** | 2259834746 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 5.1%** | **Money Market Funds — 5.1%** | **Money Market Funds — 5.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 110929443 | 111007094 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 6260000 | $6260000 |
| **Total Short-Term Securities — 5.1%** <br>**(Cost: $117,211,869)** | **Total Short-Term Securities — 5.1%** <br>**(Cost: $117,211,869)** | 117267094 |
| **Total Investments — 103.7%** <br>**(Cost: $2,372,439,252)** | **Total Investments — 103.7%** <br>**(Cost: $2,372,439,252)** | 2377101840 |
| **Liabilities in Excess of Other Assets — (3.7)%** | **Liabilities in Excess of Other Assets — (3.7)%** | (84047587)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2293054253 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $56215095<br> $54765450 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(6359)<br>| $32908 | $111007094 | 110929443 | $233701 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 2660000<br> 3600000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 6260000 | 6260000 | 284306 | &nbsp;&nbsp; — |
|  |  |  | $(6359)<br>| $32908 | $117267094 |  | $518007 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2028 Term Corporate ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2259834746 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2259834746 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 117267094 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 117267094 |
|  | &nbsp;&nbsp; $117267094 | &nbsp;&nbsp; $2259834746 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2377101840 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** |
| Boeing Co. (The) |  |  |
| 3.20%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; $4757 | $4347896 |
| 6.30%, 05/01/29<sup>(b)</sup> | &nbsp;&nbsp; 6015 | 6231707 |
| Howmet Aerospace Inc., 3.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3505 | 3259098 |
| L3Harris Technologies Inc. |  |  |
| 2.90%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2012 | 1831368 |
| 5.05%, 06/01/29 | &nbsp;&nbsp; 2761 | 2783495 |
| Lockheed Martin Corp., 4.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3037 | 3025761 |
| Northrop Grumman Corp., 4.60%, 02/01/29 | &nbsp;&nbsp; 2170 | 2159018 |
| RTX Corp. |  |  |
| 5.75%, 01/15/29 | &nbsp;&nbsp; 2295 | 2381566 |
| 7.50%, 09/15/29 | &nbsp;&nbsp; 2075 | 2310581 |
|  |  | 28330490 |
| **Agriculture — 1.7%** | **Agriculture — 1.7%** | **Agriculture — 1.7%** |
| Altria Group Inc., 4.80%, 02/14/29<sup>(a)</sup> | &nbsp;&nbsp; 8310 | 8260480 |
| BAT Capital Corp., 3.46%, 09/06/29 | &nbsp;&nbsp; 2563 | 2395658 |
| BAT International Finance PLC, 5.93%, 02/02/29 | &nbsp;&nbsp; 4070 | 4212606 |
| Bunge Ltd. Finance Corp., 4.20%, 09/17/29 | &nbsp;&nbsp; 2045 | 1986514 |
| Philip Morris International Inc. |  |  |
| 3.38%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3352 | 3157721 |
| 4.63%, 11/01/29 | &nbsp;&nbsp; 2500 | 2481225 |
| 4.88%, 02/13/29 | &nbsp;&nbsp; 4287 | 4300117 |
| 5.63%, 11/17/29 | &nbsp;&nbsp; 5061 | 5240399 |
|  |  | 32034720 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| American Airlines Pass-Through Trust |  |  |
| Series 2017-1, Class AA, 3.65%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 921 | 878532 |
| Series 2017-2, Class AA, 3.35%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1401 | 1315432 |
| Delta Air Lines Inc., 3.75%, 10/28/29<sup>(a)</sup> | &nbsp;&nbsp; 1975 | 1843615 |
|  |  | 4037579 |
| **Auto Manufacturers — 4.0%** | **Auto Manufacturers — 4.0%** | **Auto Manufacturers — 4.0%** |
| American Honda Finance Corp. |  |  |
| 2.25%, 01/12/29 | &nbsp;&nbsp; 2818 | 2555643 |
| 4.40%, 09/05/29 | &nbsp;&nbsp; 2335 | 2295647 |
| 4.90%, 03/13/29<sup>(a)</sup> | &nbsp;&nbsp; 2805 | 2817835 |
| Cummins Inc., 4.90%, 02/20/29 | &nbsp;&nbsp; 2206 | 2230767 |
| Ford Motor Credit Co. LLC |  |  |
| 2.90%, 02/10/29<sup>(a)</sup> | &nbsp;&nbsp; 3743 | 3340294 |
| 5.11%, 05/03/29<sup>(a)</sup> | &nbsp;&nbsp; 6647 | 6469245 |
| 5.30%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 3845 | 3768705 |
| 5.80%, 03/08/29<sup>(a)</sup> | &nbsp;&nbsp; 5862 | 5864285 |
| General Motors Co., 5.40%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4152 | 4189099 |
| General Motors Financial Co. Inc. |  |  |
| 4.30%, 04/06/29<sup>(a)</sup> | &nbsp;&nbsp; 4566 | 4411680 |
| 4.90%, 10/06/29 | &nbsp;&nbsp; 4065 | 4008557 |
| 5.55%, 07/15/29 | &nbsp;&nbsp; 5175 | 5244882 |
| 5.65%, 01/17/29<sup>(a)</sup> | &nbsp;&nbsp; 2122 | 2157315 |
| 5.80%, 01/07/29<sup>(a)</sup> | &nbsp;&nbsp; 6171 | 6312449 |
| PACCAR Financial Corp. |  |  |
| 4.00%, 09/26/29 | &nbsp;&nbsp; 1535 | 1496287 |
| 4.60%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 2390 | 2397450 |
| Toyota Motor Corp., 2.76%, 07/02/29 | &nbsp;&nbsp; 1632 | 1513823 |
| Toyota Motor Credit Corp. |  |  |
| 3.65%, 01/08/29 | &nbsp;&nbsp; 2269 | 2195200 |
| 4.45%, 06/29/29 | &nbsp;&nbsp; 3337 | 3307991 |
| 4.55%, 08/09/29<sup>(a)</sup> | &nbsp;&nbsp; 3397 | 3374136 |
| 4.65%, 01/05/29<sup>(a)</sup> | &nbsp;&nbsp; 3015 | 3017161 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| 5.05%, 05/16/29 | &nbsp;&nbsp; $3091 | $3132610 |
|  |  | 76101061 |
| **Auto Parts & Equipment — 0.5%** | **Auto Parts & Equipment — 0.5%** | **Auto Parts & Equipment — 0.5%** |
| Aptiv PLC, 4.35%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1750 | 1708219 |
| Aptiv PLC/Aptiv Global Financing DAC, 4.65%, <br> 09/13/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2030 | 1975645 |
| BorgWarner Inc., 4.95%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1372 | 1366847 |
| Lear Corp., 4.25%, 05/15/29 | &nbsp;&nbsp; 1736 | 1674736 |
| Magna International Inc., 5.05%, 03/14/29<sup>(a)</sup> | &nbsp;&nbsp; 1810 | 1827102 |
|  |  | 8552549 |
| **Banks — 6.9%** | **Banks — 6.9%** | **Banks — 6.9%** |
| Banco Bilbao Vizcaya Argentaria SA, 5.38%, <br> 03/13/29<br>| &nbsp;&nbsp; 4060 | 4121670 |
| Banco Santander SA, 3.31%, 06/27/29<sup>(a)</sup> | &nbsp;&nbsp; 4287 | 4005037 |
| Bank of New York Mellon Corp. (The) |  |  |
| 3.30%, 08/23/29 | &nbsp;&nbsp; 3256 | 3039903 |
| 3.85%, 04/26/29 | &nbsp;&nbsp; 1892 | 1834388 |
| Series J, 1.90%, 01/25/29 | &nbsp;&nbsp; 1513 | 1362457 |
| Bank of Nova Scotia (The), 5.45%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3125 | 3206695 |
| Canadian Imperial Bank of Commerce, 5.26%, <br> 04/08/29<sup>(a)</sup><br>| &nbsp;&nbsp; 4945 | 5030191 |
| Citibank NA, 4.84%, 08/06/29 | &nbsp;&nbsp; 6805 | 6826097 |
| Comerica Inc., 4.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2521 | 2397265 |
| Cooperatieve Rabobank UA/New York |  |  |
| 4.49%, 10/17/29 | &nbsp;&nbsp; 55 | 54318 |
| 4.80%, 01/09/29 | &nbsp;&nbsp; 2235 | 2247820 |
| Deutsche Bank AG/New York, 5.41%, 05/10/29 | &nbsp;&nbsp; 4021 | 4080701 |
| ING Groep NV, 4.05%, 04/09/29<sup>(a)</sup> | &nbsp;&nbsp; 4443 | 4295742 |
| KeyBank NA/Cleveland OH, 3.90%, 04/13/29 | &nbsp;&nbsp; 1341 | 1257737 |
| KeyCorp, 2.55%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3464 | 3082499 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 3.20%, 07/18/29 | &nbsp;&nbsp; 7410 | 6910282 |
| 3.74%, 03/07/29 | &nbsp;&nbsp; 5986 | 5774326 |
| National Australia Bank Ltd./New York, 4.79%, <br> 01/10/29<br>| &nbsp;&nbsp; 4696 | 4733121 |
| National Bank of Canada, 4.50%, 10/10/29 | &nbsp;&nbsp; 1795 | 1758959 |
| Northern Trust Corp., 3.15%, 05/03/29 | &nbsp;&nbsp; 2233 | 2105047 |
| PNC Bank NA, 2.70%, 10/22/29<sup>(a)</sup> | &nbsp;&nbsp; 3151 | 2819494 |
| PNC Financial Services Group Inc. (The), 3.45%, <br> 04/23/29<sup>(a)</sup><br>| &nbsp;&nbsp; 6823 | 6476555 |
| Royal Bank of Canada, 4.95%, 02/01/29 | &nbsp;&nbsp; 4661 | 4708183 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 2.47%, 01/14/29<sup>(a)</sup> | &nbsp;&nbsp; 2120 | 1932840 |
| 2.72%, 09/27/29<sup>(a)</sup> | &nbsp;&nbsp; 2187 | 1981155 |
| 3.04%, 07/16/29 | &nbsp;&nbsp; 10284 | 9490967 |
| 3.20%, 09/17/29<sup>(a)</sup> | &nbsp;&nbsp; 1878 | 1733018 |
| 5.32%, 07/09/29<sup>(a)</sup> | &nbsp;&nbsp; 3251 | 3317321 |
| Toronto-Dominion Bank (The), 4.99%, 04/05/29<sup>(a)</sup> | &nbsp;&nbsp; 4325 | 4350792 |
| Truist Financial Corp., 3.88%, 03/19/29 | &nbsp;&nbsp; 2758 | 2627786 |
| U.S. Bancorp, 3.00%, 07/30/29 | &nbsp;&nbsp; 4539 | 4161604 |
| Webster Financial Corp., 4.10%, 03/25/29<sup>(a)</sup> | &nbsp;&nbsp; 1045 | 991826 |
| Wells Fargo & Co. |  |  |
| 4.15%, 01/24/29 | &nbsp;&nbsp; 10708 | 10442288 |
| Series B, 7.95%, 11/15/29 | &nbsp;&nbsp; 1438 | 1616731 |
| Westpac Banking Corp., 5.05%, 04/16/29 | &nbsp;&nbsp; 3440 | 3501006 |
| Wintrust Financial Corp., 4.85%, 06/06/29 | &nbsp;&nbsp; 1195 | 1133706 |
| Zions Bancorp NA, 3.25%, 10/29/29 | &nbsp;&nbsp; 1880 | 1653996 |
|  |  | 131063523 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages — 2.8%** | **Beverages — 2.8%** | **Beverages — 2.8%** |
| Anheuser-Busch InBev Worldwide Inc., 4.75%, <br> 01/23/29<br>| &nbsp;&nbsp; $17835 | $17917908 |
| Coca-Cola Co. (The), 2.13%, 09/06/29<sup>(a)</sup> | &nbsp;&nbsp; 4623 | 4159378 |
| Coca-Cola Consolidated Inc., 5.25%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3206 | 3257148 |
| Constellation Brands Inc. |  |  |
| 3.15%, 08/01/29 | &nbsp;&nbsp; 3799 | 3520052 |
| 4.80%, 01/15/29 | &nbsp;&nbsp; 1565 | 1562317 |
| Diageo Capital PLC, 2.38%, 10/24/29<sup>(a)</sup> | &nbsp;&nbsp; 4581 | 4123498 |
| Keurig Dr Pepper Inc. |  |  |
| 3.95%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4470 | 4322195 |
| 5.05%, 03/15/29 | &nbsp;&nbsp; 2750 | 2776739 |
| PepsiCo Inc. |  |  |
| 2.63%, 07/29/29 | &nbsp;&nbsp; 4254 | 3911080 |
| 4.50%, 07/17/29 | &nbsp;&nbsp; 3090 | 3102936 |
| 7.00%, 03/01/29 | &nbsp;&nbsp; 2124 | 2333377 |
| Pepsico Singapore Financing I Pte Ltd., 4.55%, <br> 02/16/29<br>| &nbsp;&nbsp; 1755 | 1752483 |
|  |  | 52739111 |
| **Biotechnology — 0.6%** | **Biotechnology — 0.6%** | **Biotechnology — 0.6%** |
| Amgen Inc. |  |  |
| 3.00%, 02/22/29 | &nbsp;&nbsp; 3362 | 3141444 |
| 4.05%, 08/18/29<sup>(a)</sup> | &nbsp;&nbsp; 5467 | 5298476 |
| Royalty Pharma PLC, 5.15%, 09/02/29 | &nbsp;&nbsp; 2111 | 2124203 |
|  |  | 10564123 |
| **Building Materials — 0.7%** | **Building Materials — 0.7%** | **Building Materials — 0.7%** |
| CRH SMW Finance DAC, 5.20%, 05/21/29 | &nbsp;&nbsp; 2080 | 2107811 |
| Fortune Brands Innovations Inc., 3.25%, <br> 09/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3299 | 3060600 |
| Johnson Controls International PLC/Tyco Fire & <br> Security Finance SCA, 5.50%, 04/19/29<br>| &nbsp;&nbsp; 2805 | 2882083 |
| Owens Corning, 3.95%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2306 | 2210748 |
| Trane Technologies Financing Ltd., 3.80%, <br> 03/21/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3830 | 3699283 |
|  |  | 13960525 |
| **Chemicals — 1.7%** | **Chemicals — 1.7%** | **Chemicals — 1.7%** |
| Air Products and Chemicals Inc., 4.60%, <br> 02/08/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3483 | 3490377 |
| Cabot Corp., 4.00%, 07/01/29 | &nbsp;&nbsp; 1339 | 1294863 |
| Celanese U.S. Holdings LLC, 6.33%, 07/15/29 | &nbsp;&nbsp; 3412 | 3530503 |
| Dow Chemical Co. (The), 7.38%, 11/01/29 | &nbsp;&nbsp; 3390 | 3752555 |
| Eastman Chemical Co., 5.00%, 08/01/29 | &nbsp;&nbsp; 1647 | 1652363 |
| FMC Corp., 3.45%, 10/01/29 | &nbsp;&nbsp; 2372 | 2182779 |
| Huntsman International LLC, 4.50%, 05/01/29 | &nbsp;&nbsp; 3333 | 3202074 |
| Nutrien Ltd., 4.20%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3200 | 3122398 |
| PPG Industries Inc., 2.80%, 08/15/29 | &nbsp;&nbsp; 1242 | 1133991 |
| Rohm & Haas Co., 7.85%, 07/15/29 | &nbsp;&nbsp; 2555 | 2836733 |
| RPM International Inc., 4.55%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1652 | 1634894 |
| Sherwin-Williams Co. (The), 2.95%, 08/15/29 | &nbsp;&nbsp; 3664 | 3373802 |
|  |  | 31207332 |
| **Commercial Services — 2.0%** | **Commercial Services — 2.0%** | **Commercial Services — 2.0%** |
| Equifax Inc., 4.80%, 09/15/29 | &nbsp;&nbsp; 2787 | 2760650 |
| Global Payments Inc. |  |  |
| 3.20%, 08/15/29 | &nbsp;&nbsp; 5396 | 4966425 |
| 5.30%, 08/15/29 | &nbsp;&nbsp; 2345 | 2364606 |
| GXO Logistics Inc., 6.25%, 05/06/29<sup>(a)</sup> | &nbsp;&nbsp; 2315 | 2390385 |
| Moody's Corp., 4.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1677 | 1650154 |
| PayPal Holdings Inc., 2.85%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 7005 | 6447785 |
| RELX Capital Inc., 4.00%, 03/18/29 | &nbsp;&nbsp; 3968 | 3860566 |
| S&P Global Inc. |  |  |
| 2.50%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2218 | 2000914 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| 2.70%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; $5077 | $4686795 |
| 4.25%, 05/01/29 | &nbsp;&nbsp; 3796 | 3728968 |
| Verisk Analytics Inc., 4.13%, 03/15/29 | &nbsp;&nbsp; 2687 | 2626827 |
|  |  | 37484075 |
| **Computers — 2.7%** | **Computers — 2.7%** | **Computers — 2.7%** |
| Accenture Capital Inc., 4.05%, 10/04/29<sup>(a)</sup> | &nbsp;&nbsp; 3050 | 2981844 |
| Apple Inc. |  |  |
| 2.20%, 09/11/29 | &nbsp;&nbsp; 7196 | 6511095 |
| 3.25%, 08/08/29 | &nbsp;&nbsp; 4179 | 3977228 |
| Dell International LLC/EMC Corp., 5.30%, <br> 10/01/29<br>| &nbsp;&nbsp; 7635 | 7759098 |
| Genpact Luxembourg SARL/Genpact USA Inc., <br> 6.00%, 06/04/29<br>| &nbsp;&nbsp; 1920 | 1972215 |
| Hewlett Packard Enterprise Co., 4.55%, 10/15/29 | &nbsp;&nbsp; 6300 | 6180704 |
| HP Inc., 4.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4415 | 4259143 |
| IBM International Capital Pte Ltd., 4.60%, <br> 02/05/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2095 | 2087880 |
| International Business Machines Corp., 3.50%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 13712 | 13030432 |
| Western Digital Corp., 2.85%, 02/01/29 | &nbsp;&nbsp; 1560 | 1380928 |
|  |  | 50140567 |
| **Cosmetics & Personal Care — 0.8%** | **Cosmetics & Personal Care — 0.8%** | **Cosmetics & Personal Care — 0.8%** |
| Estee Lauder Companies Inc. (The), 2.38%, <br> 12/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3087 | 2759169 |
| Haleon U.S. Capital LLC, 3.38%, 03/24/29 | &nbsp;&nbsp; 4562 | 4310795 |
| Procter & Gamble Co. (The) |  |  |
| 4.15%, 10/24/29<sup>(a)</sup> | &nbsp;&nbsp; 2075 | 2061064 |
| 4.35%, 01/29/29 | &nbsp;&nbsp; 2165 | 2167104 |
| Unilever Capital Corp., 2.13%, 09/06/29 | &nbsp;&nbsp; 3979 | 3554116 |
|  |  | 14852248 |
| **Diversified Financial Services — 3.3%** | **Diversified Financial Services — 3.3%** | **Diversified Financial Services — 3.3%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 4.63%, 09/10/29 | &nbsp;&nbsp; 4925 | 4822589 |
| 5.10%, 01/19/29 | &nbsp;&nbsp; 3669 | 3677861 |
| Air Lease Corp. |  |  |
| 3.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2189 | 2020964 |
| 5.10%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2425 | 2439092 |
| American Express Co., 4.05%, 05/03/29<sup>(a)</sup> | &nbsp;&nbsp; 4300 | 4206842 |
| BGC Group Inc., 6.60%, 06/10/29 | &nbsp;&nbsp; 2224 | 2260122 |
| Brookfield Finance Inc., 4.85%, 03/29/29 | &nbsp;&nbsp; 4457 | 4453116 |
| Charles Schwab Corp. (The) |  |  |
| 2.75%, 10/01/29 | &nbsp;&nbsp; 2223 | 2025920 |
| 3.25%, 05/22/29<sup>(a)</sup> | &nbsp;&nbsp; 2802 | 2638281 |
| 4.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2813 | 2741539 |
| Enact Holdings Inc., 6.25%, 05/28/29 | &nbsp;&nbsp; 3235 | 3295494 |
| Intercontinental Exchange Inc., 4.35%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5887 | 5803733 |
| Lazard Group LLC, 4.38%, 03/11/29<sup>(a)</sup> | &nbsp;&nbsp; 2624 | 2563552 |
| Marex Group PLC, 6.40%, 11/04/29 | &nbsp;&nbsp; 1100 | 1101777 |
| Mastercard Inc., 2.95%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4229 | 3963882 |
| Nomura Holdings Inc. |  |  |
| 2.71%, 01/22/29 | &nbsp;&nbsp; 2259 | 2053888 |
| 5.61%, 07/06/29 | &nbsp;&nbsp; 2789 | 2848913 |
| Oaktree Strategic Credit Fund, 6.50%, 07/23/29<sup>(a)</sup> | &nbsp;&nbsp; 1645 | 1637795 |
| ORIX Corp., 4.65%, 09/10/29<sup>(a)</sup> | &nbsp;&nbsp; 1715 | 1692478 |
| Radian Group Inc., 6.20%, 05/15/29 | &nbsp;&nbsp; 2941 | 3016640 |
| Synchrony Financial, 5.15%, 03/19/29 | &nbsp;&nbsp; 2938 | 2892051 |
|  |  | 62156529 |
| **Electric — 7.3%** | **Electric — 7.3%** | **Electric — 7.3%** |
| AEP Texas Inc., 5.45%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2280 | 2326823 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Ameren Corp., 5.00%, 01/15/29 | &nbsp;&nbsp; $3235 | $3251040 |
| American Electric Power Co. Inc., 5.20%, 01/15/29 | &nbsp;&nbsp; 4450 | 4508628 |
| Arizona Public Service Co., 2.60%, 08/15/29 | &nbsp;&nbsp; 1987 | 1804268 |
| Avangrid Inc., 3.80%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3073 | 2933105 |
| Black Hills Corp., 3.05%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1852 | 1697176 |
| CenterPoint Energy Inc., 5.40%, 06/01/29 | &nbsp;&nbsp; 2845 | 2895319 |
| Connecticut Light and Power Co. (The), 4.65%, <br> 01/01/29<br>| &nbsp;&nbsp; 1500 | 1497931 |
| Consumers Energy Co. |  |  |
| 4.60%, 05/30/29<sup>(a)</sup> | &nbsp;&nbsp; 2865 | 2859057 |
| 4.90%, 02/15/29 | &nbsp;&nbsp; 1960 | 1978533 |
| DTE Energy Co. |  |  |
| 5.10%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 5145 | 5185784 |
| Series C, 3.40%, 06/15/29 | &nbsp;&nbsp; 2039 | 1910108 |
| Duke Energy Carolinas LLC, 2.45%, 08/15/29 | &nbsp;&nbsp; 1808 | 1637966 |
| Duke Energy Corp. |  |  |
| 3.40%, 06/15/29 | &nbsp;&nbsp; 2629 | 2471102 |
| 4.85%, 01/05/29<sup>(a)</sup> | &nbsp;&nbsp; 2776 | 2776664 |
| Duke Energy Florida LLC, 2.50%, 12/01/29 | &nbsp;&nbsp; 2812 | 2534837 |
| Duke Energy Ohio Inc., 3.65%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1688 | 1621183 |
| Duke Energy Progress LLC, 3.45%, 03/15/29 | &nbsp;&nbsp; 2410 | 2300265 |
| Edison International |  |  |
| 5.45%, 06/15/29 | &nbsp;&nbsp; 2100 | 2135684 |
| 6.95%, 11/15/29 | &nbsp;&nbsp; 2375 | 2565894 |
| Entergy Texas Inc., 4.00%, 03/30/29 | &nbsp;&nbsp; 1232 | 1198912 |
| Evergy Inc., 2.90%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3342 | 3047511 |
| Eversource Energy |  |  |
| 5.95%, 02/01/29 | &nbsp;&nbsp; 3306 | 3431276 |
| Series O, 4.25%, 04/01/29 | &nbsp;&nbsp; 2181 | 2125226 |
| Exelon Corp., 5.15%, 03/15/29 | &nbsp;&nbsp; 2681 | 2715559 |
| Florida Power & Light Co., 5.15%, 06/15/29 | &nbsp;&nbsp; 3341 | 3406557 |
| Georgia Power Co., Series B, 2.65%, 09/15/29 | &nbsp;&nbsp; 2937 | 2677681 |
| Interstate Power & Light Co., 3.60%, 04/01/29 | &nbsp;&nbsp; 1202 | 1144772 |
| MidAmerican Energy Co., 3.65%, 04/15/29 | &nbsp;&nbsp; 3470 | 3331851 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 3.70%, 03/15/29 | &nbsp;&nbsp; 1610 | 1544468 |
| 4.85%, 02/07/29<sup>(a)</sup> | &nbsp;&nbsp; 2295 | 2311306 |
| 5.15%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2361 | 2400812 |
| Nevada Power Co., Series CC, 3.70%, 05/01/29 | &nbsp;&nbsp; 1956 | 1873823 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 2.75%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4196 | 3820975 |
| 3.50%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2198 | 2081641 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 3846 | 3861205 |
| NSTAR Electric Co., 3.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1461 | 1377740 |
| OGE Energy Corp., 5.45%, 05/15/29 | &nbsp;&nbsp; 1450 | 1479972 |
| Oncor Electric Delivery Co. LLC, 5.75%, 03/15/29 | &nbsp;&nbsp; 1386 | 1436861 |
| Pacific Gas and Electric Co. |  |  |
| 4.20%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1760 | 1701531 |
| 5.55%, 05/15/29 | &nbsp;&nbsp; 3545 | 3610105 |
| 6.10%, 01/15/29 | &nbsp;&nbsp; 3670 | 3810166 |
| PacifiCorp |  |  |
| 3.50%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1731 | 1637660 |
| 5.10%, 02/15/29 | &nbsp;&nbsp; 2226 | 2251432 |
| Public Service Electric & Gas Co., 3.20%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 1339 | 1261296 |
| Public Service Enterprise Group Inc., 5.20%, <br> 04/01/29<br>| &nbsp;&nbsp; 3265 | 3312149 |
| Sempra, 3.70%, 04/01/29 | &nbsp;&nbsp; 2208 | 2097662 |
| Southern California Edison Co. |  |  |
| 2.85%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2127 | 1955871 |
| 5.15%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2405 | 2441798 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| 6.65%, 04/01/29 | &nbsp;&nbsp; $1239 | $1323414 |
| Series A, 4.20%, 03/01/29 | &nbsp;&nbsp; 2073 | 2025932 |
| Southern Co. (The), 5.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4086 | 4200866 |
| Tampa Electric Co., 4.90%, 03/01/29 | &nbsp;&nbsp; 1950 | 1949131 |
| Union Electric Co., 3.50%, 03/15/29 | &nbsp;&nbsp; 1799 | 1716544 |
| Virginia Electric & Power Co., Series A, 2.88%, <br> 07/15/29<br>| &nbsp;&nbsp; 2153 | 1986957 |
| Wisconsin Electric Power Co., 5.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1450 | 1472499 |
| Wisconsin Power and Light Co., 3.00%, 07/01/29 | &nbsp;&nbsp; 1180 | 1095783 |
| Xcel Energy Inc., 2.60%, 12/01/29 | &nbsp;&nbsp; 2316 | 2072017 |
|  |  | 138082328 |
| **Electronics — 1.3%** | **Electronics — 1.3%** | **Electronics — 1.3%** |
| Allegion PLC, 3.50%, 10/01/29 | &nbsp;&nbsp; 1940 | 1816306 |
| Amphenol Corp. |  |  |
| 4.35%, 06/01/29 | &nbsp;&nbsp; 2823 | 2779672 |
| 5.05%, 04/05/29<sup>(a)</sup> | &nbsp;&nbsp; 1710 | 1727485 |
| Arrow Electronics Inc., 5.15%, 08/21/29<sup>(a)</sup> | &nbsp;&nbsp; 2487 | 2474328 |
| Flex Ltd., 4.88%, 06/15/29 | &nbsp;&nbsp; 2880 | 2839270 |
| Honeywell International Inc. |  |  |
| 2.70%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3120 | 2877852 |
| 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3375 | 3352807 |
| 4.88%, 09/01/29 | &nbsp;&nbsp; 2216 | 2242502 |
| Jabil Inc., 5.45%, 02/01/29 | &nbsp;&nbsp; 1695 | 1715908 |
| Keysight Technologies Inc., 3.00%, 10/30/29<sup>(a)</sup> | &nbsp;&nbsp; 2507 | 2289849 |
|  |  | 24115979 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| MasTec Inc., 5.90%, 06/15/29 | &nbsp;&nbsp; 1475 | 1508421 |
| **Entertainment — 0.3%** | **Entertainment — 0.3%** | **Entertainment — 0.3%** |
| Warnermedia Holdings Inc., 4.05%, 03/15/29 | &nbsp;&nbsp; 6325 | 5909273 |
| **Environmental Control — 0.7%** | **Environmental Control — 0.7%** | **Environmental Control — 0.7%** |
| Republic Services Inc. |  |  |
| 4.88%, 04/01/29 | &nbsp;&nbsp; 3280 | 3297402 |
| 5.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1840 | 1857685 |
| Waste Connections Inc., 3.50%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2678 | 2549548 |
| Waste Management Inc. |  |  |
| 2.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2238 | 2002288 |
| 4.88%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3670 | 3709973 |
|  |  | 13416896 |
| **Food — 1.6%** | **Food — 1.6%** | **Food — 1.6%** |
| Ahold Finance USA LLC, 6.88%, 05/01/29 | &nbsp;&nbsp; 2080 | 2239490 |
| Campbell Soup Co., 5.20%, 03/21/29 | &nbsp;&nbsp; 2590 | 2624816 |
| Hershey Co. (The), 2.45%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1366 | 1236091 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL, 3.00%, 02/02/29<br>| &nbsp;&nbsp; 2513 | 2302240 |
| Kraft Heinz Foods Co., 4.63%, 01/30/29<sup>(a)</sup> | &nbsp;&nbsp; 1573 | 1571094 |
| Kroger Co. (The) |  |  |
| 4.50%, 01/15/29 | &nbsp;&nbsp; 2354 | 2331588 |
| 4.65%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 6122 | 6122178 |
| Mondelez International Inc., 4.75%, 02/20/29 | &nbsp;&nbsp; 2475 | 2481530 |
| Sysco Corp., 5.75%, 01/17/29 | &nbsp;&nbsp; 2225 | 2303512 |
| Tyson Foods Inc. |  |  |
| 4.35%, 03/01/29 | &nbsp;&nbsp; 4018 | 3916857 |
| 5.40%, 03/15/29 | &nbsp;&nbsp; 2641 | 2685314 |
|  |  | 29814710 |
| **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** |
| Georgia-Pacific LLC, 7.75%, 11/15/29 | &nbsp;&nbsp; 2325 | 2640688 |
| Suzano Austria GmbH, 6.00%, 01/15/29 | &nbsp;&nbsp; 7167 | 7256612 |
|  |  | 9897300 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Gas — 0.6%** | **Gas — 0.6%** | **Gas — 0.6%** |
| Atmos Energy Corp., 2.63%, 09/15/29 | &nbsp;&nbsp; $2205 | $2016873 |
| NiSource Inc. |  |  |
| 2.95%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3168 | 2909406 |
| 5.20%, 07/01/29 | &nbsp;&nbsp; 2620 | 2655502 |
| ONE Gas Inc., 5.10%, 04/01/29 | &nbsp;&nbsp; 2105 | 2140206 |
| Piedmont Natural Gas Co. Inc., 3.50%, 06/01/29 | &nbsp;&nbsp; 2563 | 2429030 |
|  |  | 12151017 |
| **Health Care - Products — 1.6%** | **Health Care - Products — 1.6%** | **Health Care - Products — 1.6%** |
| Agilent Technologies Inc., 2.75%, 09/15/29 | &nbsp;&nbsp; 2074 | 1888314 |
| DH Europe Finance II SARL, 2.60%, 11/15/29 | &nbsp;&nbsp; 3659 | 3320891 |
| GE HealthCare Technologies Inc., 4.80%, <br> 08/14/29<sup>(a)</sup><br>| &nbsp;&nbsp; 3822 | 3814606 |
| Revvity Inc., 3.30%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3453 | 3192245 |
| Solventum Corp., 5.40%, 03/01/29<sup>(b)</sup> | &nbsp;&nbsp; 6545 | 6627847 |
| Stryker Corp., 4.25%, 09/11/29<sup>(a)</sup> | &nbsp;&nbsp; 3040 | 2979676 |
| Thermo Fisher Scientific Inc. |  |  |
| 2.60%, 10/01/29 | &nbsp;&nbsp; 3979 | 3630410 |
| 5.00%, 01/31/29<sup>(a)</sup> | &nbsp;&nbsp; 4370 | 4440425 |
|  |  | 29894414 |
| **Health Care - Services — 4.5%** | **Health Care - Services — 4.5%** | **Health Care - Services — 4.5%** |
| Ascension Health, Series B, 2.53%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3391 | 3063350 |
| Centene Corp., 4.63%, 12/15/29 | &nbsp;&nbsp; 14680 | 14036916 |
| Cigna Group (The), 5.00%, 05/15/29 | &nbsp;&nbsp; 4605 | 4623968 |
| CommonSpirit Health, 3.35%, 10/01/29 | &nbsp;&nbsp; 2435 | 2265794 |
| Elevance Health Inc. |  |  |
| 2.88%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3483 | 3180337 |
| 5.15%, 06/15/29 | &nbsp;&nbsp; 2565 | 2593340 |
| HCA Inc. |  |  |
| 3.38%, 03/15/29 | &nbsp;&nbsp; 2620 | 2454965 |
| 4.13%, 06/15/29 | &nbsp;&nbsp; 8161 | 7860618 |
| 5.88%, 02/01/29 | &nbsp;&nbsp; 4059 | 4172084 |
| Humana Inc. |  |  |
| 3.13%, 08/15/29 | &nbsp;&nbsp; 2258 | 2072422 |
| 3.70%, 03/23/29 | &nbsp;&nbsp; 3274 | 3108328 |
| ICON Investments Six DAC, 5.85%, 05/08/29 | &nbsp;&nbsp; 3180 | 3263190 |
| IQVIA Inc., 6.25%, 02/01/29 | &nbsp;&nbsp; 5161 | 5377994 |
| Laboratory Corp. of America Holdings, 2.95%, <br> 12/01/29<br>| &nbsp;&nbsp; 2814 | 2557534 |
| Providence St. Joseph Health Obligated Group, <br> Series 19A, 2.53%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2872 | 2569478 |
| Quest Diagnostics Inc. |  |  |
| 4.20%, 06/30/29 | &nbsp;&nbsp; 2275 | 2214968 |
| 4.63%, 12/15/29 | &nbsp;&nbsp; 2647 | 2620030 |
| Rush Obligated Group, Series 2020, 3.92%, <br> 11/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 818 | 786472 |
| UnitedHealth Group Inc. |  |  |
| 2.88%, 08/15/29 | &nbsp;&nbsp; 4203 | 3890732 |
| 4.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3919 | 3821647 |
| 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5347 | 5271461 |
| 4.70%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1770 | 1776990 |
| Universal Health Services Inc., 4.63%, 10/15/29 | &nbsp;&nbsp; 2125 | 2063170 |
|  |  | 85645788 |
| **Holding Companies - Diversified — 2.9%** | **Holding Companies - Diversified — 2.9%** | **Holding Companies - Diversified — 2.9%** |
| Apollo Debt Solutions BDC, 6.90%, 04/13/29<sup>(b)</sup> | &nbsp;&nbsp; 3775 | 3854342 |
| Ares Capital Corp. |  |  |
| 5.88%, 03/01/29 | &nbsp;&nbsp; 4325 | 4355863 |
| 5.95%, 07/15/29 | &nbsp;&nbsp; 3705 | 3740099 |
| Ares Strategic Income Fund, 6.35%, 08/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3066 | 3089602 |
| Barings BDC Inc., 7.00%, 02/15/29 | &nbsp;&nbsp; 1220 | 1244105 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| Blackstone Private Credit Fund |  |  |
| 4.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; $2595 | $2444097 |
| 5.95%, 07/16/29<sup>(b)</sup> | &nbsp;&nbsp; 2050 | 2055255 |
| Blue Owl Capital Corp., 5.95%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2440 | 2448797 |
| Blue Owl Credit Income Corp. |  |  |
| 6.60%, 09/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2021 | 2042723 |
| 7.75%, 01/15/29 | &nbsp;&nbsp; 2439 | 2568136 |
| Blue Owl Technology Finance Corp. II, 6.75%, <br> 04/04/29<sup>(b)</sup><br>| &nbsp;&nbsp; 3075 | 3060160 |
| Franklin BSP Capital Corp., 7.20%, 06/15/29<sup>(b)</sup> | &nbsp;&nbsp; 1386 | 1400579 |
| FS KKR Capital Corp. |  |  |
| 6.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2120 | 2183531 |
| 7.88%, 01/15/29 | &nbsp;&nbsp; 1975 | 2096231 |
| Golub Capital BDC Inc., 6.00%, 07/15/29 | &nbsp;&nbsp; 2492 | 2495518 |
| Golub Capital Private Credit Fund, 5.80%, <br> 09/12/29<sup>(b)</sup><br>| &nbsp;&nbsp; 1720 | 1677094 |
| HPS Corporate Lending Fund |  |  |
| 6.25%, 09/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 1850 | 1853535 |
| 6.75%, 01/30/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 2275 | 2320258 |
| Main Street Capital Corp., 6.95%, 03/01/29 | &nbsp;&nbsp; 1484 | 1519616 |
| Morgan Stanley Direct Lending Fund, 6.15%, <br> 05/17/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1665 | 1656652 |
| New Mountain Finance Corp., 6.88%, 02/01/29 | &nbsp;&nbsp; 1400 | 1396654 |
| Oaktree Specialty Lending Corp., 7.10%, 02/15/29 | &nbsp;&nbsp; 1400 | 1447210 |
| Sixth Street Lending Partners, 6.50%, <br> 03/11/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 3171 | 3193824 |
| Sixth Street Specialty Lending Inc., 6.13%, <br> 03/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 1592 | 1597315 |
|  |  | 55741196 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| Toll Brothers Finance Corp., 3.80%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2100 | 1992676 |
| **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** |
| Leggett & Platt Inc., 4.40%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2324 | 2182218 |
| Whirlpool Corp., 4.75%, 02/26/29<sup>(a)</sup> | &nbsp;&nbsp; 3026 | 2993208 |
|  |  | 5175426 |
| **Household Products & Wares — 0.3%** | **Household Products & Wares — 0.3%** | **Household Products & Wares — 0.3%** |
| Clorox Co. (The), 4.40%, 05/01/29 | &nbsp;&nbsp; 2255 | 2232794 |
| Kimberly-Clark Corp., 3.20%, 04/25/29 | &nbsp;&nbsp; 3082 | 2921964 |
|  |  | 5154758 |
| **Insurance — 3.3%** | **Insurance — 3.3%** | **Insurance — 3.3%** |
| Allstate Corp. (The), 5.05%, 06/24/29 | &nbsp;&nbsp; 2140 | 2158930 |
| American National Group Inc., 5.75%, 10/01/29 | &nbsp;&nbsp; 1200 | 1203571 |
| Aon Corp., 3.75%, 05/02/29 | &nbsp;&nbsp; 3323 | 3179609 |
| Aon North America Inc., 5.15%, 03/01/29 | &nbsp;&nbsp; 4345 | 4391832 |
| Axis Specialty Finance LLC, 3.90%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1250 | 1190706 |
| Brown & Brown Inc., 4.50%, 03/15/29 | &nbsp;&nbsp; 1845 | 1816596 |
| Chubb INA Holdings LLC, 4.65%, 08/15/29 | &nbsp;&nbsp; 3077 | 3078132 |
| CNA Financial Corp., 3.90%, 05/01/29 | &nbsp;&nbsp; 2216 | 2135334 |
| CNO Financial Group Inc., 5.25%, 05/30/29<sup>(a)</sup> | &nbsp;&nbsp; 2323 | 2309905 |
| Corebridge Financial Inc., 3.85%, 04/05/29 | &nbsp;&nbsp; 4474 | 4279080 |
| Enstar Group Ltd., 4.95%, 06/01/29 | &nbsp;&nbsp; 2314 | 2283838 |
| Essent Group Ltd., 6.25%, 07/01/29 | &nbsp;&nbsp; 1980 | 2025338 |
| F&G Annuities & Life Inc., 6.50%, 06/04/29 | &nbsp;&nbsp; 2260 | 2290582 |
| Hartford Financial Services Group Inc. (The), <br> 2.80%, 08/19/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2552 | 2328970 |
| Markel Group Inc., 3.35%, 09/17/29 | &nbsp;&nbsp; 1493 | 1384110 |
| Marsh & McLennan Companies Inc., 4.38%, <br> 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 6239 | 6162691 |
| NMI Holdings Inc., 6.00%, 08/15/29 | &nbsp;&nbsp; 1460 | 1474319 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| PartnerRe Finance B LLC, 3.70%, 07/02/29<sup>(a)</sup> | &nbsp;&nbsp; $1968 | $1868135 |
| Principal Financial Group Inc., 3.70%, 05/15/29 | &nbsp;&nbsp; 2436 | 2327290 |
| Progressive Corp. (The) |  |  |
| 4.00%, 03/01/29 | &nbsp;&nbsp; 2444 | 2391643 |
| 6.63%, 03/01/29 | &nbsp;&nbsp; 1484 | 1600764 |
| Reinsurance Group of America Inc., 3.90%, <br> 05/15/29<br>| &nbsp;&nbsp; 2854 | 2738541 |
| RenaissanceRe Holdings Ltd., 3.60%, 04/15/29 | &nbsp;&nbsp; 1936 | 1834769 |
| SiriusPoint Ltd., 7.00%, 04/05/29 | &nbsp;&nbsp; 1305 | 1340296 |
| Unum Group, 4.00%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1342 | 1290033 |
| Willis North America Inc., 2.95%, 09/15/29 | &nbsp;&nbsp; 3347 | 3054951 |
|  |  | 62139965 |
| **Internet — 1.0%** | **Internet — 1.0%** | **Internet — 1.0%** |
| Amazon.com Inc. |  |  |
| 3.45%, 04/13/29<sup>(a)</sup> | &nbsp;&nbsp; 5817 | 5598711 |
| 4.65%, 12/01/29 | &nbsp;&nbsp; 5914 | 5968652 |
| Meta Platforms Inc., 4.30%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4045 | 4014464 |
| Netflix Inc., 6.38%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3625 | 3872862 |
|  |  | 19454689 |
| **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** | **Iron & Steel — 0.1%** |
| ArcelorMittal SA, 4.25%, 07/16/29 | &nbsp;&nbsp; 2390 | 2328432 |
| **Leisure Time — 0.2%** | **Leisure Time — 0.2%** | **Leisure Time — 0.2%** |
| Brunswick Corp./DE, 5.85%, 03/18/29<sup>(a)</sup> | &nbsp;&nbsp; 1925 | 1957989 |
| Polaris Inc., 6.95%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2430 | 2564826 |
|  |  | 4522815 |
| **Lodging — 0.9%** | **Lodging — 0.9%** | **Lodging — 0.9%** |
| Choice Hotels International Inc., 3.70%, <br> 12/01/29<sup>(a)</sup><br>| &nbsp;&nbsp; 1921 | 1781816 |
| Hyatt Hotels Corp., 5.25%, 06/30/29 | &nbsp;&nbsp; 2240 | 2252390 |
| Las Vegas Sands Corp. |  |  |
| 3.90%, 08/08/29 | &nbsp;&nbsp; 3654 | 3413414 |
| 6.00%, 08/15/29 | &nbsp;&nbsp; 1905 | 1941601 |
| Marriott International Inc./MD |  |  |
| 4.88%, 05/15/29 | &nbsp;&nbsp; 1911 | 1912696 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 3678 | 3685308 |
| Sands China Ltd., 2.85%, 03/08/29 | &nbsp;&nbsp; 3005 | 2695741 |
|  |  | 17682966 |
| **Machinery — 2.0%** | **Machinery — 2.0%** | **Machinery — 2.0%** |
| Caterpillar Financial Services Corp. |  |  |
| 4.38%, 08/16/29<sup>(a)</sup> | &nbsp;&nbsp; 2222 | 2201374 |
| 4.85%, 02/27/29<sup>(a)</sup> | &nbsp;&nbsp; 2648 | 2681924 |
| Caterpillar Inc., 2.60%, 09/19/29 | &nbsp;&nbsp; 2834 | 2593185 |
| CNH Industrial Capital LLC |  |  |
| 5.10%, 04/20/29 | &nbsp;&nbsp; 2105 | 2119569 |
| 5.50%, 01/12/29<sup>(a)</sup> | &nbsp;&nbsp; 2255 | 2305498 |
| Deere & Co., 5.38%, 10/16/29<sup>(a)</sup> | &nbsp;&nbsp; 1688 | 1753142 |
| Dover Corp., 2.95%, 11/04/29 | &nbsp;&nbsp; 1433 | 1310698 |
| IDEX Corp., 4.95%, 09/01/29 | &nbsp;&nbsp; 857 | 859955 |
| Ingersoll Rand Inc., 5.18%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2970 | 3011145 |
| John Deere Capital Corp. |  |  |
| 2.80%, 07/18/29<sup>(a)</sup> | &nbsp;&nbsp; 2534 | 2346302 |
| 3.35%, 04/18/29 | &nbsp;&nbsp; 2040 | 1945253 |
| 3.45%, 03/07/29 | &nbsp;&nbsp; 2165 | 2068347 |
| 4.50%, 01/16/29 | &nbsp;&nbsp; 3690 | 3681367 |
| 4.85%, 06/11/29 | &nbsp;&nbsp; 3270 | 3301110 |
| 4.85%, 10/11/29<sup>(a)</sup> | &nbsp;&nbsp; 1680 | 1698749 |
| Nordson Corp., 4.50%, 12/15/29 | &nbsp;&nbsp; 1610 | 1574086 |
| Rockwell Automation Inc., 3.50%, 03/01/29 | &nbsp;&nbsp; 2229 | 2125574 |
|  |  | 37577278 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Manufacturing — 1.0%** | **Manufacturing — 1.0%** | **Manufacturing — 1.0%** |
| 3M Co. |  |  |
| 2.38%, 08/26/29<sup>(a)</sup> | &nbsp;&nbsp; $4518 | $4060020 |
| 3.38%, 03/01/29 | &nbsp;&nbsp; 3399 | 3217712 |
| Parker-Hannifin Corp. |  |  |
| 3.25%, 06/14/29 | &nbsp;&nbsp; 4513 | 4238625 |
| 4.50%, 09/15/29 | &nbsp;&nbsp; 4580 | 4547633 |
| Pentair Finance SARL, 4.50%, 07/01/29 | &nbsp;&nbsp; 2087 | 2034020 |
| Textron Inc., 3.90%, 09/17/29<sup>(a)</sup> | &nbsp;&nbsp; 1634 | 1560816 |
|  |  | 19658826 |
| **Media — 2.4%** | **Media — 2.4%** | **Media — 2.4%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| 2.25%, 01/15/29 | &nbsp;&nbsp; 5521 | 4846070 |
| 5.05%, 03/30/29 | &nbsp;&nbsp; 5433 | 5328410 |
| 6.10%, 06/01/29 | &nbsp;&nbsp; 6051 | 6175043 |
| Comcast Corp. |  |  |
| 4.55%, 01/15/29 | &nbsp;&nbsp; 4128 | 4112420 |
| 5.10%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3506 | 3563124 |
| Discovery Communications LLC, 4.13%, 05/15/29 | &nbsp;&nbsp; 3207 | 2984036 |
| Fox Corp., 4.71%, 01/25/29 | &nbsp;&nbsp; 8508 | 8471433 |
| Paramount Global, 4.20%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1572 | 1471268 |
| Walt Disney Co. (The), 2.00%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 8526 | 7579706 |
|  |  | 44531510 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| Freeport-McMoRan Inc., 5.25%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1885 | 1886777 |
| Newmont Corp., 2.80%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2979 | 2727030 |
|  |  | 4613807 |
| **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** |
| CDW LLC/CDW Finance Corp., 3.25%, 02/15/29 | &nbsp;&nbsp; 3313 | 3060604 |
| **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** |
| BP Capital Markets America Inc. |  |  |
| 4.70%, 04/10/29 | &nbsp;&nbsp; 4480 | 4470889 |
| 4.97%, 10/17/29<sup>(a)</sup> | &nbsp;&nbsp; 3855 | 3891686 |
| Chevron USA Inc., 3.25%, 10/15/29 | &nbsp;&nbsp; 2592 | 2446707 |
| ConocoPhillips Co., 6.95%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 5428 | 5945625 |
| Coterra Energy Inc., 4.38%, 03/15/29 | &nbsp;&nbsp; 1934 | 1871142 |
| Diamondback Energy Inc., 3.50%, 12/01/29 | &nbsp;&nbsp; 4559 | 4256072 |
| EQT Corp., 5.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1235 | 1221476 |
| Expand Energy Corp., 5.38%, 02/01/29 | &nbsp;&nbsp; 110 | 108326 |
| Exxon Mobil Corp., 2.44%, 08/16/29<sup>(a)</sup> | &nbsp;&nbsp; 5696 | 5203523 |
| Helmerich & Payne Inc., 4.85%, 12/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp; 470 | 454963 |
| Hess Corp., 7.88%, 10/01/29 | &nbsp;&nbsp; 2221 | 2486612 |
| Marathon Oil Corp., 5.30%, 04/01/29 | &nbsp;&nbsp; 2865 | 2913450 |
| Occidental Petroleum Corp., 5.20%, 08/01/29 | &nbsp;&nbsp; 4175 | 4159684 |
| Patterson-UTI Energy Inc., 5.15%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1737 | 1700653 |
| Phillips 66 Co., 3.15%, 12/15/29 | &nbsp;&nbsp; 2315 | 2132041 |
| Shell Finance U.S. Inc., 2.38%, 11/07/29<sup>(a)</sup> | &nbsp;&nbsp; 6358 | 5730006 |
| Shell International Finance BV, 2.38%, 11/07/29 | &nbsp;&nbsp; 75 | 67935 |
| TotalEnergies Capital International SA, 3.46%, <br> 02/19/29<sup>(a)</sup><br>| &nbsp;&nbsp; 5281 | 5063361 |
| Valero Energy Corp., 4.00%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1746 | 1684329 |
|  |  | 55808480 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc., 3.14%, 11/07/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2305 | 2135420 |
| NOV Inc., 3.60%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2446 | 2280798 |
|  |  | 4416218 |
| **Packaging & Containers — 0.4%** | **Packaging & Containers — 0.4%** | **Packaging & Containers — 0.4%** |
| Amcor Group Finance PLC, 5.45%, 05/23/29 | &nbsp;&nbsp; 1310 | 1328353 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| Packaging Corp. of America, 3.00%, 12/15/29 | &nbsp;&nbsp; $1982 | $1818597 |
| Sonoco Products Co., 4.60%, 09/01/29 | &nbsp;&nbsp; 1320 | 1286453 |
| WRKCo Inc., 4.90%, 03/15/29 | &nbsp;&nbsp; 3142 | 3132699 |
|  |  | 7566102 |
| **Pharmaceuticals — 6.4%** | **Pharmaceuticals — 6.4%** | **Pharmaceuticals — 6.4%** |
| AbbVie Inc. |  |  |
| 3.20%, 11/21/29 | &nbsp;&nbsp; 22535 | 21072688 |
| 4.80%, 03/15/29 | &nbsp;&nbsp; 10620 | 10695610 |
| Astrazeneca Finance LLC, 4.85%, 02/26/29 | &nbsp;&nbsp; 5325 | 5376428 |
| AstraZeneca PLC, 4.00%, 01/17/29<sup>(a)</sup> | &nbsp;&nbsp; 4205 | 4118536 |
| Becton Dickinson & Co. |  |  |
| 4.87%, 02/08/29 | &nbsp;&nbsp; 1695 | 1696937 |
| 5.08%, 06/07/29 | &nbsp;&nbsp; 3120 | 3155113 |
| Bristol-Myers Squibb Co. |  |  |
| 3.40%, 07/26/29<sup>(a)</sup> | &nbsp;&nbsp; 9537 | 9075120 |
| 4.90%, 02/22/29<sup>(a)</sup> | &nbsp;&nbsp; 7065 | 7154561 |
| Cardinal Health Inc., 5.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2800 | 2825013 |
| CVS Health Corp. |  |  |
| 3.25%, 08/15/29 | &nbsp;&nbsp; 7389 | 6782248 |
| 5.00%, 01/30/29 | &nbsp;&nbsp; 4207 | 4190216 |
| 5.40%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4211 | 4250943 |
| Eli Lilly & Co. |  |  |
| 3.38%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3676 | 3515791 |
| 4.20%, 08/14/29 | &nbsp;&nbsp; 3552 | 3505853 |
| 4.50%, 02/09/29<sup>(a)</sup> | &nbsp;&nbsp; 4222 | 4221671 |
| GlaxoSmithKline Capital PLC, 3.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4313 | 4100777 |
| Johnson & Johnson |  |  |
| 4.80%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4881 | 4956217 |
| 6.95%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 915 | 1023929 |
| McKesson Corp., 4.25%, 09/15/29 | &nbsp;&nbsp; 1820 | 1782402 |
| Merck & Co. Inc., 3.40%, 03/07/29 | &nbsp;&nbsp; 7584 | 7249110 |
| Novartis Capital Corp., 3.80%, 09/18/29 | &nbsp;&nbsp; 3620 | 3510746 |
| Pfizer Inc., 3.45%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7332 | 7024891 |
|  |  | 121284800 |
| **Pipelines — 4.6%** | **Pipelines — 4.6%** | **Pipelines — 4.6%** |
| Boardwalk Pipelines LP, 4.80%, 05/03/29<sup>(a)</sup> | &nbsp;&nbsp; 2326 | 2298691 |
| Cheniere Corpus Christi Holdings LLC, 3.70%, <br> 11/15/29<br>| &nbsp;&nbsp; 5027 | 4734341 |
| Cheniere Energy Partners LP, 4.50%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp; 6735 | 6487432 |
| DCP Midstream Operating LP, 5.13%, 05/15/29 | &nbsp;&nbsp; 2749 | 2766669 |
| Eastern Gas Transmission & Storage Inc., 3.00%, <br> 11/15/29<br>| &nbsp;&nbsp; 1462 | 1341446 |
| Enbridge Inc. |  |  |
| 3.13%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4047 | 3733757 |
| 5.30%, 04/05/29 | &nbsp;&nbsp; 3350 | 3399234 |
| Energy Transfer LP |  |  |
| 4.15%, 09/15/29 | &nbsp;&nbsp; 2512 | 2417427 |
| 5.25%, 04/15/29 | &nbsp;&nbsp; 6238 | 6296771 |
| 5.25%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp; 3265 | 3296044 |
| EnLink Midstream LLC, 5.38%, 06/01/29 | &nbsp;&nbsp; 2290 | 2307136 |
| Enterprise Products Operating LLC, 3.13%, <br> 07/31/29<br>| &nbsp;&nbsp; 5884 | 5494652 |
| Kinder Morgan Inc. |  |  |
| 5.00%, 02/01/29 | &nbsp;&nbsp; 5290 | 5295739 |
| 5.10%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2337 | 2346613 |
| MPLX LP, 4.80%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3391 | 3373034 |
| ONEOK Inc. |  |  |
| 3.40%, 09/01/29 | &nbsp;&nbsp; 3107 | 2896416 |
| 4.35%, 03/15/29 | &nbsp;&nbsp; 3049 | 2970287 |
| 4.40%, 10/15/29 | &nbsp;&nbsp; 915 | 891885 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Plains All American Pipeline LP/PAA Finance <br> Corp., 3.55%, 12/15/29<br>| &nbsp;&nbsp; $4434 | $4130222 |
| South Bow USA Infrastructure Holdings LLC, <br> 5.03%, 10/01/29<sup>(b)</sup><br>| &nbsp;&nbsp; 3977 | 3914652 |
| Targa Resources Corp., 6.15%, 03/01/29 | &nbsp;&nbsp; 4640 | 4844415 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp., 6.88%, 01/15/29<br>| &nbsp;&nbsp; 1715 | 1754384 |
| Western Midstream Operating LP, 6.35%, <br> 01/15/29<br>| &nbsp;&nbsp; 2660 | 2768490 |
| Williams Companies Inc. (The) |  |  |
| 4.80%, 11/15/29 | &nbsp;&nbsp; 1705 | 1694434 |
| 4.90%, 03/15/29 | &nbsp;&nbsp; 4747 | 4740998 |
|  |  | 86195169 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| CBRE Services Inc., 5.50%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2145 | 2200307 |
| **Real Estate Investment Trusts — 6.2%** | **Real Estate Investment Trusts — 6.2%** | **Real Estate Investment Trusts — 6.2%** |
| Alexandria Real Estate Equities Inc. |  |  |
| 2.75%, 12/15/29 | &nbsp;&nbsp; 1737 | 1560560 |
| 4.50%, 07/30/29<sup>(a)</sup> | &nbsp;&nbsp; 1368 | 1337212 |
| American Homes 4 Rent LP, 4.90%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1707 | 1698893 |
| American Tower Corp. |  |  |
| 3.80%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7031 | 6690831 |
| 3.95%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2553 | 2455125 |
| 5.20%, 02/15/29 | &nbsp;&nbsp; 3006 | 3038510 |
| AvalonBay Communities Inc., 3.30%, 06/01/29 | &nbsp;&nbsp; 1857 | 1744720 |
| Boston Properties LP, 3.40%, 06/21/29 | &nbsp;&nbsp; 3857 | 3540110 |
| Brixmor Operating Partnership LP, 4.13%, <br> 05/15/29<br>| &nbsp;&nbsp; 3274 | 3145038 |
| Camden Property Trust, 3.15%, 07/01/29 | &nbsp;&nbsp; 2679 | 2501676 |
| COPT Defense Properties LP, 2.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1894 | 1661494 |
| Crown Castle Inc. |  |  |
| 3.10%, 11/15/29 | &nbsp;&nbsp; 2389 | 2183000 |
| 4.30%, 02/15/29 | &nbsp;&nbsp; 2577 | 2505214 |
| 4.90%, 09/01/29 | &nbsp;&nbsp; 2105 | 2088302 |
| 5.60%, 06/01/29 | &nbsp;&nbsp; 3195 | 3276686 |
| CubeSmart LP, 4.38%, 02/15/29 | &nbsp;&nbsp; 1507 | 1467998 |
| Digital Realty Trust LP, 3.60%, 07/01/29 | &nbsp;&nbsp; 3967 | 3764034 |
| EPR Properties, 3.75%, 08/15/29 | &nbsp;&nbsp; 1570 | 1445362 |
| Equinix Inc., 3.20%, 11/18/29 | &nbsp;&nbsp; 5323 | 4915418 |
| ERP Operating LP, 3.00%, 07/01/29 | &nbsp;&nbsp; 2581 | 2393053 |
| Essex Portfolio LP, 4.00%, 03/01/29 | &nbsp;&nbsp; 2067 | 1987940 |
| Extra Space Storage LP |  |  |
| 3.90%, 04/01/29 | &nbsp;&nbsp; 1775 | 1699598 |
| 4.00%, 06/15/29 | &nbsp;&nbsp; 1444 | 1389122 |
| Federal Realty OP LP, 3.20%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1800 | 1660332 |
| GLP Capital LP/GLP Financing II Inc., 5.30%, <br> 01/15/29<br>| &nbsp;&nbsp; 3523 | 3514732 |
| Healthpeak OP LLC, 3.50%, 07/15/29 | &nbsp;&nbsp; 2765 | 2601155 |
| Highwoods Realty LP, 4.20%, 04/15/29 | &nbsp;&nbsp; 1150 | 1090549 |
| Host Hotels & Resorts LP, Series H, 3.38%, <br> 12/15/29<br>| &nbsp;&nbsp; 2928 | 2679510 |
| Kilroy Realty LP, 4.25%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1947 | 1832734 |
| Mid-America Apartments LP, 3.95%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2275 | 2204208 |
| Omega Healthcare Investors Inc., 3.63%, 10/01/29 | &nbsp;&nbsp; 2362 | 2187080 |
| Piedmont Operating Partnership LP, 6.88%, <br> 07/15/29<br>| &nbsp;&nbsp; 1355 | 1397533 |
| Prologis LP |  |  |
| 2.88%, 11/15/29 | &nbsp;&nbsp; 1605 | 1475047 |
| 4.38%, 02/01/29 | &nbsp;&nbsp; 1391 | 1377455 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Public Storage Operating Co. |  |  |
| 3.39%, 05/01/29 | &nbsp;&nbsp; $2192 | $2081261 |
| 5.13%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1956 | 1995921 |
| Realty Income Corp. |  |  |
| 3.10%, 12/15/29 | &nbsp;&nbsp; 2563 | 2362199 |
| 3.25%, 06/15/29 | &nbsp;&nbsp; 1743 | 1630520 |
| 4.00%, 07/15/29 | &nbsp;&nbsp; 1722 | 1665438 |
| 4.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1870 | 1867576 |
| Regency Centers LP, 2.95%, 09/15/29 | &nbsp;&nbsp; 1909 | 1750954 |
| Sabra Health Care LP, 3.90%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1699 | 1579264 |
| Simon Property Group LP, 2.45%, 09/13/29<sup>(a)</sup> | &nbsp;&nbsp; 5180 | 4661143 |
| Store Capital LLC, 4.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1638 | 1573169 |
| Sun Communities Operating LP, 5.50%, <br> 01/15/29<sup>(a)</sup><br>| &nbsp;&nbsp; 2320 | 2341757 |
| UDR Inc., 4.40%, 01/26/29 | &nbsp;&nbsp; 1208 | 1179156 |
| Ventas Realty LP, 4.40%, 01/15/29 | &nbsp;&nbsp; 3611 | 3528356 |
| Welltower OP LLC |  |  |
| 2.05%, 01/15/29 | &nbsp;&nbsp; 2188 | 1962970 |
| 4.13%, 03/15/29 | &nbsp;&nbsp; 2237 | 2179457 |
| Weyerhaeuser Co., 4.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3125 | 2998008 |
| WP Carey Inc., 3.85%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1449 | 1385393 |
|  |  | 117252773 |
| **Retail — 2.7%** | **Retail — 2.7%** | **Retail — 2.7%** |
| AutoZone Inc. |  |  |
| 3.75%, 04/18/29 | &nbsp;&nbsp; 1961 | 1874689 |
| 5.10%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2916 | 2941520 |
| Darden Restaurants Inc., 4.55%, 10/15/29 | &nbsp;&nbsp; 1025 | 1000737 |
| Genuine Parts Co., 4.95%, 08/15/29 | &nbsp;&nbsp; 2680 | 2660989 |
| Home Depot Inc. (The) |  |  |
| 2.95%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp; 7193 | 6708064 |
| 4.75%, 06/25/29 | &nbsp;&nbsp; 3950 | 3977472 |
| 4.90%, 04/15/29 | &nbsp;&nbsp; 3211 | 3252755 |
| Lowe's Companies Inc. |  |  |
| 3.65%, 04/05/29 | &nbsp;&nbsp; 6793 | 6494674 |
| 6.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 1365 | 1462919 |
| McDonald's Corp. |  |  |
| 2.63%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 4370 | 3987701 |
| 5.00%, 05/17/29<sup>(a)</sup> | &nbsp;&nbsp; 2190 | 2217085 |
| O'Reilly Automotive Inc., 3.90%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 2178 | 2102117 |
| Starbucks Corp., 3.55%, 08/15/29 | &nbsp;&nbsp; 4522 | 4312470 |
| Target Corp., 3.38%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4375 | 4180200 |
| Walmart Inc. |  |  |
| 2.38%, 09/24/29<sup>(a)</sup> | &nbsp;&nbsp; 1168 | 1070478 |
| 3.25%, 07/08/29<sup>(a)</sup> | &nbsp;&nbsp; 2995 | 2870094 |
|  |  | 51113964 |
| **Semiconductors — 3.7%** | **Semiconductors — 3.7%** | **Semiconductors — 3.7%** |
| Applied Materials Inc., 4.80%, 06/15/29 | &nbsp;&nbsp; 2420 | 2440092 |
| Broadcom Inc. |  |  |
| 4.00%, 04/15/29<sup>(b)</sup> | &nbsp;&nbsp; 3181 | 3066191 |
| 4.75%, 04/15/29 | &nbsp;&nbsp; 7081 | 7054862 |
| 5.05%, 07/12/29 | &nbsp;&nbsp; 8156 | 8227397 |
| Intel Corp. |  |  |
| 2.45%, 11/15/29 | &nbsp;&nbsp; 8529 | 7499608 |
| 4.00%, 08/05/29 | &nbsp;&nbsp; 3765 | 3590589 |
| KLA Corp., 4.10%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3370 | 3310672 |
| Lam Research Corp., 4.00%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 4507 | 4410371 |
| Marvell Technology Inc., 5.75%, 02/15/29 | &nbsp;&nbsp; 2496 | 2571455 |
| Microchip Technology Inc., 5.05%, 03/15/29 | &nbsp;&nbsp; 4020 | 4033349 |
| Micron Technology Inc. |  |  |
| 5.33%, 02/06/29 | &nbsp;&nbsp; 3072 | 3107297 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| 6.75%, 11/01/29 | &nbsp;&nbsp; $5505 | $5908269 |
| NXP BV/NXP Funding LLC/NXP USA Inc., 4.30%, <br> 06/18/29<sup>(a)</sup><br>| &nbsp;&nbsp; 4199 | 4084935 |
| Qorvo Inc., 4.38%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp; 3980 | 3752699 |
| Texas Instruments Inc. |  |  |
| 2.25%, 09/04/29 | &nbsp;&nbsp; 3759 | 3387883 |
| 4.60%, 02/08/29 | &nbsp;&nbsp; 2225 | 2231449 |
| TSMC Arizona Corp., 4.13%, 04/22/29<sup>(a)</sup> | &nbsp;&nbsp; 1555 | 1518862 |
|  |  | 70195980 |
| **Software — 2.4%** | **Software — 2.4%** | **Software — 2.4%** |
| Adobe Inc., 4.80%, 04/04/29<sup>(a)</sup> | &nbsp;&nbsp; 2485 | 2516569 |
| Atlassian Corp., 5.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2345 | 2374434 |
| Broadridge Financial Solutions Inc., 2.90%, <br> 12/01/29<br>| &nbsp;&nbsp; 3507 | 3182921 |
| Cadence Design Systems Inc., 4.30%, 09/10/29 | &nbsp;&nbsp; 3055 | 2997699 |
| Fidelity National Information Services Inc., 3.75%, <br> 05/21/29<br>| &nbsp;&nbsp; 700 | 668501 |
| Fiserv Inc., 3.50%, 07/01/29 | &nbsp;&nbsp; 12505 | 11814900 |
| Oracle Corp. |  |  |
| 4.20%, 09/27/29 | &nbsp;&nbsp; 7475 | 7281463 |
| 6.15%, 11/09/29 | &nbsp;&nbsp; 5100 | 5389678 |
| Roper Technologies Inc. |  |  |
| 2.95%, 09/15/29 | &nbsp;&nbsp; 3216 | 2954167 |
| 4.50%, 10/15/29 | &nbsp;&nbsp; 1702 | 1676249 |
| Take-Two Interactive Software Inc., 5.40%, <br> 06/12/29<sup>(a)</sup><br>| &nbsp;&nbsp; 1420 | 1441595 |
| Workday Inc., 3.70%, 04/01/29 | &nbsp;&nbsp; 3375 | 3234038 |
|  |  | 45532214 |
| **Telecommunications — 4.2%** | **Telecommunications — 4.2%** | **Telecommunications — 4.2%** |
| America Movil SAB de CV, 3.63%, 04/22/29 | &nbsp;&nbsp; 4440 | 4204052 |
| AT&T Inc., 4.35%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp; 12867 | 12684529 |
| Cisco Systems Inc., 4.85%, 02/26/29 | &nbsp;&nbsp; 8776 | 8885260 |
| Juniper Networks Inc., 3.75%, 08/15/29 | &nbsp;&nbsp; 2152 | 2032144 |
| Motorola Solutions Inc. |  |  |
| 4.60%, 05/23/29 | &nbsp;&nbsp; 3579 | 3545941 |
| 5.00%, 04/15/29 | &nbsp;&nbsp; 1680 | 1692883 |
| Rogers Communications Inc., 5.00%, 02/15/29 | &nbsp;&nbsp; 5215 | 5219419 |
| T-Mobile USA Inc. |  |  |
| 2.40%, 03/15/29 | &nbsp;&nbsp; 2075 | 1877165 |
| 2.63%, 02/15/29 | &nbsp;&nbsp; 4165 | 3800106 |
| 3.38%, 04/15/29 | &nbsp;&nbsp; 9508 | 8929180 |
| 4.20%, 10/01/29 | &nbsp;&nbsp; 3360 | 3265742 |
| 4.85%, 01/15/29 | &nbsp;&nbsp; 4117 | 4123948 |
| Verizon Communications Inc. |  |  |
| 3.88%, 02/08/29 | &nbsp;&nbsp; 4060 | 3928025 |
| 4.02%, 12/03/29 | &nbsp;&nbsp; 16830 | 16185502 |
|  |  | 80373896 |
| **Toys, Games & Hobbies — 0.2%** | **Toys, Games & Hobbies — 0.2%** | **Toys, Games & Hobbies — 0.2%** |
| Hasbro Inc., 3.90%, 11/19/29 | &nbsp;&nbsp; 4003 | 3770145 |
| **Transportation — 1.5%** | **Transportation — 1.5%** | **Transportation — 1.5%** |
| Canadian Pacific Railway Co., 2.88%, 11/15/29 | &nbsp;&nbsp; 1981 | 1810398 |
| CSX Corp., 4.25%, 03/15/29 | &nbsp;&nbsp; 4824 | 4755430 |
| FedEx Corp., 3.10%, 08/05/29<sup>(a)</sup> | &nbsp;&nbsp; 4853 | 4508575 |
| Norfolk Southern Corp., 2.55%, 11/01/29 | &nbsp;&nbsp; 1849 | 1672224 |
| Ryder System Inc. |  |  |
| 4.90%, 12/01/29 | &nbsp;&nbsp; 555 | 553766 |
| 4.95%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1185 | 1183414 |
| 5.38%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp; 2436 | 2476122 |
| 5.50%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp; 970 | 990514 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| Union Pacific Corp. |  |  |
| 3.70%, 03/01/29 | &nbsp;&nbsp; $3380 | $3267179 |
| 6.63%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1830 | 1972946 |
| United Parcel Service Inc. |  |  |
| 2.50%, 09/01/29 | &nbsp;&nbsp; 1919 | 1748306 |
| 3.40%, 03/15/29 | &nbsp;&nbsp; 3162 | 3018108 |
|  |  | 27956982 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| GATX Corp., 4.70%, 04/01/29 | &nbsp;&nbsp; 2402 | 2383312 |
| **Water — 0.2%** | **Water — 0.2%** | **Water — 0.2%** |
| American Water Capital Corp., 3.45%, 06/01/29 | &nbsp;&nbsp; 2458 | 2322428 |
| Essential Utilities Inc., 3.57%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp; 1718 | 1625087 |
|  |  | 3947515 |
| **Total Long-Term Investments — 98.6%** <br>**(Cost: $1,856,509,668)** | **Total Long-Term Investments — 98.6%** <br>**(Cost: $1,856,509,668)** | 1867293363 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 10.5%** | **Money Market Funds — 10.5%** | **Money Market Funds — 10.5%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 193971997 | 194107777 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 5720000 | $5720000 |
| **Total Short-Term Securities — 10.5%** <br>**(Cost: $199,764,165)** | **Total Short-Term Securities — 10.5%** <br>**(Cost: $199,764,165)** | 199827777 |
| **Total Investments — 109.1%** <br>**(Cost: $2,056,273,833)** | **Total Investments — 109.1%** <br>**(Cost: $2,056,273,833)** | 2067121140 |
| **Liabilities in Excess of Other Assets — (9.1)%** | **Liabilities in Excess of Other Assets — (9.1)%** | (172390533)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1894730607 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $55517164<br> $138551047 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(6542)<br>| $46108 | $194107777 | 193971997 | $261170 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 3360000<br> 2360000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 5720000 | 5720000 | 220234 | &nbsp;&nbsp; — |
|  |  |  | $(6542)<br>| $46108 | $199827777 |  | $481404 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2029 Term Corporate ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1867293363 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1867293363 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 199827777 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 199827777 |
|  | &nbsp;&nbsp; $199827777 | &nbsp;&nbsp; $1867293363 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2067121140 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.4%** | **Advertising — 0.4%** | **Advertising — 0.4%** |
| Interpublic Group of Companies Inc. (The), 4.75%, <br> 03/30/30<br>| &nbsp;&nbsp; $2307 | $2282092 |
| Omnicom Group Inc. |  |  |
| 2.45%, 04/30/30 | &nbsp;&nbsp; 2252 | 1981444 |
| 4.20%, 06/01/30 | &nbsp;&nbsp; 1982 | 1915653 |
|  |  | 6179189 |
| **Aerospace & Defense — 1.9%** | **Aerospace & Defense — 1.9%** | **Aerospace & Defense — 1.9%** |
| Boeing Co. (The) |  |  |
| 2.95%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2740 | 2426867 |
| 5.15%, 05/01/30 | &nbsp;&nbsp; 14526 | 14350309 |
| General Dynamics Corp., 3.63%, 04/01/30 | &nbsp;&nbsp; 3385 | 3223761 |
| Lockheed Martin Corp., 1.85%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1585 | 1367459 |
| Northrop Grumman Corp., 4.40%, 05/01/30 | &nbsp;&nbsp; 2427 | 2384836 |
| RTX Corp., 2.25%, 07/01/30 | &nbsp;&nbsp; 3523 | 3073520 |
|  |  | 26826752 |
| **Agriculture — 1.9%** | **Agriculture — 1.9%** | **Agriculture — 1.9%** |
| Altria Group Inc., 3.40%, 05/06/30 | &nbsp;&nbsp; 2425 | 2236680 |
| Archer-Daniels-Midland Co., 3.25%, 03/27/30 | &nbsp;&nbsp; 3461 | 3214730 |
| BAT Capital Corp. |  |  |
| 4.91%, 04/02/30 | &nbsp;&nbsp; 3310 | 3275494 |
| 6.34%, 08/02/30 | &nbsp;&nbsp; 3223 | 3399825 |
| Philip Morris International Inc. |  |  |
| 1.75%, 11/01/30 | &nbsp;&nbsp; 2739 | 2290295 |
| 2.10%, 05/01/30 | &nbsp;&nbsp; 2432 | 2110114 |
| 5.13%, 02/15/30 | &nbsp;&nbsp; 7250 | 7333912 |
| 5.50%, 09/07/30 | &nbsp;&nbsp; 2260 | 2325966 |
|  |  | 26187016 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| Southwest Airlines Co., 2.63%, 02/10/30 | &nbsp;&nbsp; 1872 | 1662011 |
| United Airlines Pass-Through Trust, Series 2018-1, <br> Class AA, 3.50%, 09/01/31<br>| &nbsp;&nbsp; 990 | 931143 |
|  |  | 2593154 |
| **Apparel — 0.7%** | **Apparel — 0.7%** | **Apparel — 0.7%** |
| NIKE Inc., 2.85%, 03/27/30 | &nbsp;&nbsp; 5043 | 4616827 |
| Ralph Lauren Corp., 2.95%, 06/15/30 | &nbsp;&nbsp; 2548 | 2319573 |
| Tapestry Inc., 7.70%, 11/27/30<sup>(a)</sup> | &nbsp;&nbsp; 3090 | 3150895 |
|  |  | 10087295 |
| **Auto Manufacturers — 2.8%** | **Auto Manufacturers — 2.8%** | **Auto Manufacturers — 2.8%** |
| American Honda Finance Corp. |  |  |
| 4.60%, 04/17/30<sup>(a)</sup> | &nbsp;&nbsp; 2320 | 2295083 |
| 5.85%, 10/04/30<sup>(a)</sup> | &nbsp;&nbsp; 1849 | 1938854 |
| Cummins Inc., 1.50%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2770 | 2331928 |
| Ford Motor Co., 9.63%, 04/22/30 | &nbsp;&nbsp; 1460 | 1692955 |
| Ford Motor Credit Co. LLC |  |  |
| 4.00%, 11/13/30<sup>(a)</sup> | &nbsp;&nbsp; 5460 | 4936350 |
| 7.20%, 06/10/30<sup>(a)</sup> | &nbsp;&nbsp; 2870 | 3028288 |
| 7.35%, 03/06/30<sup>(a)</sup> | &nbsp;&nbsp; 3850 | 4083765 |
| General Motors Financial Co. Inc. |  |  |
| 3.60%, 06/21/30 | &nbsp;&nbsp; 3650 | 3346220 |
| 5.85%, 04/06/30<sup>(a)</sup> | &nbsp;&nbsp; 3495 | 3581648 |
| Toyota Motor Credit Corp. |  |  |
| 2.15%, 02/13/30 | &nbsp;&nbsp; 2544 | 2238664 |
| 3.38%, 04/01/30 | &nbsp;&nbsp; 3215 | 3004467 |
| 4.55%, 05/17/30<sup>(a)</sup> | &nbsp;&nbsp; 2295 | 2270163 |
| 5.55%, 11/20/30 | &nbsp;&nbsp; 3720 | 3860744 |
|  |  | 38609129 |
| **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** |
| Lear Corp., 3.50%, 05/30/30<sup>(a)</sup> | &nbsp;&nbsp; 1317 | 1206468 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| Magna International Inc., 2.45%, 06/15/30 | &nbsp;&nbsp; $2501 | $2194168 |
|  |  | 3400636 |
| **Banks — 6.8%** | **Banks — 6.8%** | **Banks — 6.8%** |
| Banco Santander SA |  |  |
| 2.75%, 12/03/30 | &nbsp;&nbsp; 5049 | 4331290 |
| 3.49%, 05/28/30 | &nbsp;&nbsp; 3374 | 3092635 |
| Bank of Nova Scotia (The), 4.85%, 02/01/30 | &nbsp;&nbsp; 4442 | 4434769 |
| BankUnited Inc., 5.13%, 06/11/30<sup>(a)</sup> | &nbsp;&nbsp; 877 | 844316 |
| Citizens Financial Group Inc. |  |  |
| 2.50%, 02/06/30 | &nbsp;&nbsp; 1139 | 998446 |
| 3.25%, 04/30/30 | &nbsp;&nbsp; 2500 | 2266598 |
| Discover Bank, 2.70%, 02/06/30<sup>(a)</sup> | &nbsp;&nbsp; 1607 | 1414722 |
| First Horizon Bank, 5.75%, 05/01/30 | &nbsp;&nbsp; 1355 | 1351394 |
| Goldman Sachs Group Inc. (The) |  |  |
| 2.60%, 02/07/30<sup>(a)</sup> | &nbsp;&nbsp; 6821 | 6094462 |
| 3.80%, 03/15/30 | &nbsp;&nbsp; 8434 | 7983242 |
| HSBC Holdings PLC, 4.95%, 03/31/30<sup>(a)</sup> | &nbsp;&nbsp; 8387 | 8397085 |
| Huntington Bancshares Inc./Ohio, 2.55%, 02/04/30 | &nbsp;&nbsp; 2567 | 2263395 |
| Huntington National Bank (The), 5.65%, 01/10/30 | &nbsp;&nbsp; 2950 | 3013976 |
| JPMorgan Chase & Co., 8.75%, 09/01/30 | &nbsp;&nbsp; 1735 | 2063507 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| 2.05%, 07/17/30 | &nbsp;&nbsp; 4200 | 3610032 |
| 2.56%, 02/25/30 | &nbsp;&nbsp; 3742 | 3337892 |
| Northern Trust Corp., 1.95%, 05/01/30 | &nbsp;&nbsp; 3450 | 2994131 |
| PNC Financial Services Group Inc. (The), 2.55%, <br> 01/22/30<br>| &nbsp;&nbsp; 6857 | 6131758 |
| State Street Corp., 2.40%, 01/24/30<sup>(a)</sup> | &nbsp;&nbsp; 2751 | 2452933 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 2.13%, 07/08/30<sup>(a)</sup> | &nbsp;&nbsp; 4895 | 4218145 |
| 2.14%, 09/23/30 | &nbsp;&nbsp; 2810 | 2393560 |
| 2.75%, 01/15/30 | &nbsp;&nbsp; 4214 | 3791366 |
| 5.71%, 01/13/30 | &nbsp;&nbsp; 4390 | 4539268 |
| 5.85%, 07/13/30<sup>(a)</sup> | &nbsp;&nbsp; 2103 | 2192947 |
| Truist Bank, 2.25%, 03/11/30 | &nbsp;&nbsp; 4092 | 3527408 |
| Truist Financial Corp., 1.95%, 06/05/30<sup>(a)</sup> | &nbsp;&nbsp; 2632 | 2252366 |
| U.S. Bancorp, 1.38%, 07/22/30<sup>(a)</sup> | &nbsp;&nbsp; 4178 | 3460710 |
| Westpac Banking Corp., 2.65%, 01/16/30<sup>(a)</sup> | &nbsp;&nbsp; 2271 | 2060296 |
|  |  | 95512649 |
| **Beverages — 2.3%** | **Beverages — 2.3%** | **Beverages — 2.3%** |
| Anheuser-Busch InBev Worldwide Inc., 3.50%, <br> 06/01/30<br>| &nbsp;&nbsp; 6124 | 5767607 |
| Coca-Cola Co. (The) |  |  |
| 1.65%, 06/01/30 | &nbsp;&nbsp; 4807 | 4123270 |
| 3.45%, 03/25/30<sup>(a)</sup> | &nbsp;&nbsp; 3976 | 3774023 |
| Coca-Cola Femsa SAB de CV, 2.75%, 01/22/30 | &nbsp;&nbsp; 3217 | 2906282 |
| Constellation Brands Inc., 2.88%, 05/01/30 | &nbsp;&nbsp; 2259 | 2029721 |
| Diageo Capital PLC, 2.00%, 04/29/30<sup>(a)</sup> | &nbsp;&nbsp; 3223 | 2800434 |
| Keurig Dr Pepper Inc., 3.20%, 05/01/30 | &nbsp;&nbsp; 2683 | 2468954 |
| PepsiCo Inc. |  |  |
| 1.63%, 05/01/30 | &nbsp;&nbsp; 3395 | 2897845 |
| 2.75%, 03/19/30 | &nbsp;&nbsp; 5102 | 4648449 |
|  |  | 31416585 |
| **Biotechnology — 1.9%** | **Biotechnology — 1.9%** | **Biotechnology — 1.9%** |
| Amgen Inc. |  |  |
| 2.45%, 02/21/30<sup>(a)</sup> | &nbsp;&nbsp; 4030 | 3590692 |
| 5.25%, 03/02/30 | &nbsp;&nbsp; 9057 | 9232670 |
| Biogen Inc., 2.25%, 05/01/30 | &nbsp;&nbsp; 5205 | 4514593 |
| Gilead Sciences Inc., 1.65%, 10/01/30 | &nbsp;&nbsp; 3585 | 3008302 |
| Regeneron Pharmaceuticals Inc., 1.75%, <br> 09/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 4235 | 3556435 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| Royalty Pharma PLC, 2.20%, 09/02/30 | &nbsp;&nbsp; $3560 | $3041672 |
|  |  | 26944364 |
| **Building Materials — 1.1%** | **Building Materials — 1.1%** | **Building Materials — 1.1%** |
| Carrier Global Corp., 2.72%, 02/15/30 | &nbsp;&nbsp; 6612 | 5942796 |
| Johnson Controls International PLC/Tyco Fire & <br> Security Finance SCA, 1.75%, 09/15/30<br>| &nbsp;&nbsp; 2070 | 1747660 |
| Martin Marietta Materials Inc., Series CB, 2.50%, <br> 03/15/30<br>| &nbsp;&nbsp; 1589 | 1412581 |
| Masco Corp., 2.00%, 10/01/30 | &nbsp;&nbsp; 931 | 788943 |
| Mohawk Industries Inc., 3.63%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1340 | 1251749 |
| Owens Corning |  |  |
| 3.50%, 02/15/30 | &nbsp;&nbsp; 1090 | 1015178 |
| 3.88%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 911 | 860944 |
| Vulcan Materials Co., 3.50%, 06/01/30 | &nbsp;&nbsp; 2610 | 2430512 |
|  |  | 15450363 |
| **Chemicals — 1.5%** | **Chemicals — 1.5%** | **Chemicals — 1.5%** |
| Air Products and Chemicals Inc., 2.05%, 05/15/30 | &nbsp;&nbsp; 2968 | 2587457 |
| Celanese U.S. Holdings LLC, 6.55%, 11/15/30 | &nbsp;&nbsp; 3465 | 3629309 |
| Dow Chemical Co. (The), 2.10%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2955 | 2531415 |
| Ecolab Inc., 4.80%, 03/24/30 | &nbsp;&nbsp; 2347 | 2358271 |
| EIDP Inc., 2.30%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1618 | 1422887 |
| Linde Inc./CT, 1.10%, 08/10/30 | &nbsp;&nbsp; 2385 | 1972489 |
| LYB International Finance III LLC, 2.25%, <br> 10/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 1907 | 1637459 |
| Nutrien Ltd., 2.95%, 05/13/30<sup>(a)</sup> | &nbsp;&nbsp; 1760 | 1598645 |
| PPG Industries Inc., 2.55%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 720 | 638216 |
| Sherwin-Williams Co. (The), 2.30%, 05/15/30 | &nbsp;&nbsp; 1830 | 1605071 |
| Westlake Corp., 3.38%, 06/15/30 | &nbsp;&nbsp; 1199 | 1104857 |
|  |  | 21086076 |
| **Commercial Services — 1.6%** | **Commercial Services — 1.6%** | **Commercial Services — 1.6%** |
| Automatic Data Processing Inc., 1.25%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 3227 | 2683789 |
| Block Financial LLC, 3.88%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2335 | 2181755 |
| Emory University, Series 2020, 2.14%, 09/01/30 | &nbsp;&nbsp; 1378 | 1205397 |
| Equifax Inc., 3.10%, 05/15/30 | &nbsp;&nbsp; 1765 | 1606856 |
| Global Payments Inc., 2.90%, 05/15/30 | &nbsp;&nbsp; 3490 | 3117698 |
| PayPal Holdings Inc., 2.30%, 06/01/30 | &nbsp;&nbsp; 3480 | 3067233 |
| Quanta Services Inc., 2.90%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 3265 | 2935233 |
| RELX Capital Inc., 3.00%, 05/22/30 | &nbsp;&nbsp; 2529 | 2309702 |
| S&P Global Inc., 1.25%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1747 | 1448308 |
| Yale University, Series 2020, 1.48%, 04/15/30 | &nbsp;&nbsp; 1439 | 1227891 |
|  |  | 21783862 |
| **Computers — 1.9%** | **Computers — 1.9%** | **Computers — 1.9%** |
| Amdocs Ltd., 2.54%, 06/15/30 | &nbsp;&nbsp; 2140 | 1868961 |
| Apple Inc. |  |  |
| 1.25%, 08/20/30 | &nbsp;&nbsp; 4023 | 3381043 |
| 1.65%, 05/11/30 | &nbsp;&nbsp; 5682 | 4896700 |
| 4.15%, 05/10/30<sup>(a)</sup> | &nbsp;&nbsp; 1592 | 1583286 |
| Dell International LLC/EMC Corp. |  |  |
| 4.35%, 02/01/30 | &nbsp;&nbsp; 1395 | 1355393 |
| 6.20%, 07/15/30 | &nbsp;&nbsp; 2540 | 2690413 |
| HP Inc., 3.40%, 06/17/30 | &nbsp;&nbsp; 1645 | 1519875 |
| International Business Machines Corp., 1.95%, <br> 05/15/30<br>| &nbsp;&nbsp; 4653 | 4000855 |
| Leidos Inc., 4.38%, 05/15/30 | &nbsp;&nbsp; 2150 | 2073038 |
| NetApp Inc., 2.70%, 06/22/30 | &nbsp;&nbsp; 2489 | 2205167 |
| Teledyne FLIR LLC, 2.50%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1467 | 1289274 |
|  |  | 26864005 |
| **Cosmetics & Personal Care — 1.1%** | **Cosmetics & Personal Care — 1.1%** | **Cosmetics & Personal Care — 1.1%** |
| Estee Lauder Companies Inc. (The), 2.60%, <br> 04/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 2545 | 2286769 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** | **Cosmetics & Personal Care (continued)** |
| Kenvue Inc., 5.00%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; $3505 | $3560723 |
| Procter & Gamble Co. (The) |  |  |
| 1.20%, 10/29/30 | &nbsp;&nbsp; 4131 | 3426124 |
| 3.00%, 03/25/30 | &nbsp;&nbsp; 4869 | 4524112 |
| Unilever Capital Corp., 1.38%, 09/14/30 | &nbsp;&nbsp; 1725 | 1437780 |
|  |  | 15235508 |
| **Diversified Financial Services — 3.1%** | **Diversified Financial Services — 3.1%** | **Diversified Financial Services — 3.1%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust, 6.15%, 09/30/30<sup>(a)</sup><br>| &nbsp;&nbsp; 2990 | 3136450 |
| Affiliated Managers Group Inc., 3.30%, 06/15/30 | &nbsp;&nbsp; 1362 | 1238944 |
| Air Lease Corp. |  |  |
| 3.00%, 02/01/30 | &nbsp;&nbsp; 2166 | 1955404 |
| 3.13%, 12/01/30 | &nbsp;&nbsp; 2445 | 2187282 |
| Brookfield Finance Inc., 4.35%, 04/15/30 | &nbsp;&nbsp; 2763 | 2680721 |
| Cboe Global Markets Inc., 1.63%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1956 | 1625371 |
| Charles Schwab Corp. (The), 4.63%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; 1432 | 1433396 |
| Franklin Resources Inc., 1.60%, 10/30/30 | &nbsp;&nbsp; 3069 | 2541212 |
| Intercontinental Exchange Inc., 2.10%, 06/15/30 | &nbsp;&nbsp; 4445 | 3853431 |
| Jefferies Financial Group Inc., 4.15%, 01/23/30 | &nbsp;&nbsp; 3547 | 3391764 |
| Mastercard Inc., 3.35%, 03/26/30<sup>(a)</sup> | &nbsp;&nbsp; 5110 | 4800362 |
| Nomura Holdings Inc. |  |  |
| 2.68%, 07/16/30<sup>(a)</sup> | &nbsp;&nbsp; 3357 | 2937446 |
| 3.10%, 01/16/30<sup>(a)</sup> | &nbsp;&nbsp; 5161 | 4675149 |
| Raymond James Financial Inc., 4.65%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1596 | 1593731 |
| Stifel Financial Corp., 4.00%, 05/15/30 | &nbsp;&nbsp; 1498 | 1411710 |
| Visa Inc., 2.05%, 04/15/30 | &nbsp;&nbsp; 4978 | 4380298 |
|  |  | 43842671 |
| **Electric — 6.8%** | **Electric — 6.8%** | **Electric — 6.8%** |
| AEP Texas Inc., Series I, 2.10%, 07/01/30 | &nbsp;&nbsp; 1930 | 1661323 |
| Alabama Power Co., Series 20-A, 1.45%, <br> 09/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 2041 | 1701204 |
| Ameren Illinois Co., 1.55%, 11/15/30 | &nbsp;&nbsp; 1180 | 982281 |
| American Electric Power Co. Inc., 2.30%, 03/01/30 | &nbsp;&nbsp; 1416 | 1239121 |
| Berkshire Hathaway Energy Co., 3.70%, 07/15/30 | &nbsp;&nbsp; 3704 | 3516136 |
| Black Hills Corp., 2.50%, 06/15/30 | &nbsp;&nbsp; 1533 | 1337400 |
| CenterPoint Energy Inc., 2.95%, 03/01/30 | &nbsp;&nbsp; 1425 | 1285287 |
| Commonwealth Edison Co., 2.20%, 03/01/30 | &nbsp;&nbsp; 1015 | 892126 |
| Consolidated Edison Co. of New York Inc., Series <br> 20A, 3.35%, 04/01/30<br>| &nbsp;&nbsp; 2005 | 1876728 |
| Consumers Energy Co., 4.70%, 01/15/30 | &nbsp;&nbsp; 2305 | 2305308 |
| Dominion Energy Inc., Series C, 3.38%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 5119 | 4739093 |
| DTE Electric Co., 2.25%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1918 | 1696389 |
| DTE Energy Co., 2.95%, 03/01/30 | &nbsp;&nbsp; 935 | 843209 |
| Duke Energy Carolinas LLC, 2.45%, 02/01/30 | &nbsp;&nbsp; 1625 | 1452531 |
| Duke Energy Corp., 2.45%, 06/01/30 | &nbsp;&nbsp; 2912 | 2557629 |
| Duke Energy Florida LLC, 1.75%, 06/15/30 | &nbsp;&nbsp; 1588 | 1354803 |
| Duke Energy Ohio Inc., 2.13%, 06/01/30 | &nbsp;&nbsp; 1370 | 1190796 |
| Entergy Corp., 2.80%, 06/15/30 | &nbsp;&nbsp; 2067 | 1850098 |
| Entergy Louisiana LLC, 1.60%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1043 | 862082 |
| Evergy Metro Inc., Series 2020, 2.25%, 06/01/30 | &nbsp;&nbsp; 1227 | 1067909 |
| Eversource Energy, Series R, 1.65%, 08/15/30 | &nbsp;&nbsp; 2065 | 1719777 |
| Exelon Corp., 4.05%, 04/15/30 | &nbsp;&nbsp; 4362 | 4181863 |
| FirstEnergy Corp. |  |  |
| 2.65%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2156 | 1920238 |
| Series B, 2.25%, 09/01/30 | &nbsp;&nbsp; 1536 | 1320197 |
| FirstEnergy Transmission LLC, 4.55%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 1260 | 1234626 |
| Florida Power & Light Co., 4.63%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1714 | 1708660 |
| Interstate Power & Light Co., 2.30%, 06/01/30 | &nbsp;&nbsp; 1162 | 1010772 |
| IPALCO Enterprises Inc., 4.25%, 05/01/30 | &nbsp;&nbsp; 1735 | 1638297 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| National Rural Utilities Cooperative Finance Corp., <br> 2.40%, 03/15/30<br>| &nbsp;&nbsp; $1754 | $1552769 |
| Nevada Power Co., Series DD, 2.40%, 05/01/30 | &nbsp;&nbsp; 1343 | 1185990 |
| NextEra Energy Capital Holdings Inc. |  |  |
| 2.25%, 06/01/30 | &nbsp;&nbsp; 6736 | 5872775 |
| 5.00%, 02/28/30<sup>(a)</sup> | &nbsp;&nbsp; 2052 | 2067595 |
| NSTAR Electric Co., 3.95%, 04/01/30 | &nbsp;&nbsp; 1085 | 1045296 |
| Ohio Power Co., Series P, 2.60%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1222 | 1085905 |
| Oklahoma Gas & Electric Co. |  |  |
| 3.25%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 994 | 915631 |
| 3.30%, 03/15/30 | &nbsp;&nbsp; 794 | 733769 |
| Oncor Electric Delivery Co. LLC, 2.75%, 05/15/30 | &nbsp;&nbsp; 2158 | 1947679 |
| Pacific Gas and Electric Co., 4.55%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp; 10257 | 9958547 |
| PacifiCorp, 2.70%, 09/15/30 | &nbsp;&nbsp; 1417 | 1253393 |
| PPL Capital Funding Inc., 4.13%, 04/15/30 | &nbsp;&nbsp; 1378 | 1321772 |
| Public Service Electric & Gas Co., 2.45%, 01/15/30 | &nbsp;&nbsp; 989 | 884440 |
| Public Service Enterprise Group Inc., 1.60%, <br> 08/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 1777 | 1479639 |
| Puget Energy Inc., 4.10%, 06/15/30 | &nbsp;&nbsp; 1775 | 1662224 |
| San Diego Gas & Electric Co., Series VVV, 1.70%, <br> 10/01/30<br>| &nbsp;&nbsp; 2747 | 2312892 |
| Southern California Edison Co., 2.25%, 06/01/30 | &nbsp;&nbsp; 1910 | 1672268 |
| Southern Co. (The), Series A, 3.70%, 04/30/30 | &nbsp;&nbsp; 3460 | 3263248 |
| Tucson Electric Power Co., 1.50%, 08/01/30 | &nbsp;&nbsp; 810 | 673109 |
| Union Electric Co., 2.95%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1548 | 1413211 |
| WEC Energy Group Inc., 1.80%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1552 | 1309254 |
| Xcel Energy Inc., 3.40%, 06/01/30 | &nbsp;&nbsp; 2092 | 1927882 |
|  |  | 94685171 |
| **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** |
| Acuity Brands Lighting Inc., 2.15%, 12/15/30 | &nbsp;&nbsp; 1620 | 1385163 |
| Emerson Electric Co., 1.95%, 10/15/30 | &nbsp;&nbsp; 1070 | 921084 |
|  |  | 2306247 |
| **Electronics — 1.0%** | **Electronics — 1.0%** | **Electronics — 1.0%** |
| Amphenol Corp., 2.80%, 02/15/30 | &nbsp;&nbsp; 2958 | 2677586 |
| Flex Ltd., 4.88%, 05/12/30 | &nbsp;&nbsp; 2190 | 2142403 |
| Honeywell International Inc. |  |  |
| 1.95%, 06/01/30 | &nbsp;&nbsp; 3294 | 2866108 |
| 4.70%, 02/01/30 | &nbsp;&nbsp; 3360 | 3371087 |
| Jabil Inc., 3.60%, 01/15/30 | &nbsp;&nbsp; 1748 | 1615122 |
| Tyco Electronics Group SA, 4.63%, 02/01/30 | &nbsp;&nbsp; 1135 | 1127120 |
|  |  | 13799426 |
| **Environmental Control — 0.7%** | **Environmental Control — 0.7%** | **Environmental Control — 0.7%** |
| Republic Services Inc., 2.30%, 03/01/30 | &nbsp;&nbsp; 1967 | 1740715 |
| Waste Connections Inc., 2.60%, 02/01/30 | &nbsp;&nbsp; 2031 | 1829653 |
| Waste Management Inc. |  |  |
| 4.63%, 02/15/30 | &nbsp;&nbsp; 2660 | 2650160 |
| 4.65%, 03/15/30 | &nbsp;&nbsp; 3075 | 3064965 |
|  |  | 9285493 |
| **Food — 2.2%** | **Food — 2.2%** | **Food — 2.2%** |
| Campbell Soup Co., 2.38%, 04/24/30<sup>(a)</sup> | &nbsp;&nbsp; 1855 | 1625213 |
| Conagra Brands Inc., 8.25%, 09/15/30 | &nbsp;&nbsp; 1083 | 1256535 |
| General Mills Inc., 2.88%, 04/15/30 | &nbsp;&nbsp; 2455 | 2217298 |
| Hershey Co. (The), 1.70%, 06/01/30 | &nbsp;&nbsp; 1238 | 1062026 |
| Hormel Foods Corp., 1.80%, 06/11/30 | &nbsp;&nbsp; 3578 | 3055498 |
| Ingredion Inc., 2.90%, 06/01/30 | &nbsp;&nbsp; 1973 | 1779286 |
| J.M. Smucker Co. (The), 2.38%, 03/15/30 | &nbsp;&nbsp; 1615 | 1427478 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL, 5.50%, 01/15/30<br>| &nbsp;&nbsp; 4132 | 4119924 |
| Kellanova, 2.10%, 06/01/30 | &nbsp;&nbsp; 1852 | 1613934 |
| Kraft Heinz Foods Co., 3.75%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2505 | 2383306 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| Kroger Co. (The), 2.20%, 05/01/30 | &nbsp;&nbsp; $1621 | $1410422 |
| McCormick & Co. Inc./MD, 2.50%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1705 | 1510589 |
| Mondelez International Inc., 2.75%, 04/13/30<sup>(a)</sup> | &nbsp;&nbsp; 2645 | 2388381 |
| Sysco Corp. |  |  |
| 2.40%, 02/15/30 | &nbsp;&nbsp; 1720 | 1518675 |
| 5.95%, 04/01/30 | &nbsp;&nbsp; 3445 | 3608753 |
|  |  | 30977318 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| Suzano Austria GmbH, 5.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3213 | 3121885 |
| **Gas — 0.6%** | **Gas — 0.6%** | **Gas — 0.6%** |
| CenterPoint Energy Resources Corp., 1.75%, <br> 10/01/30<br>| &nbsp;&nbsp; 1627 | 1367666 |
| NiSource Inc., 3.60%, 05/01/30 | &nbsp;&nbsp; 3455 | 3233499 |
| ONE Gas Inc., 2.00%, 05/15/30 | &nbsp;&nbsp; 982 | 853209 |
| Southern California Gas Co., Series XX, 2.55%, <br> 02/01/30<br>| &nbsp;&nbsp; 2291 | 2055014 |
| Southwest Gas Corp., 2.20%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1400 | 1205227 |
|  |  | 8714615 |
| **Hand & Machine Tools — 0.4%** | **Hand & Machine Tools — 0.4%** | **Hand & Machine Tools — 0.4%** |
| Regal Rexnord Corp., 6.30%, 02/15/30 | &nbsp;&nbsp; 3355 | 3470106 |
| Stanley Black & Decker Inc., 2.30%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2480 | 2167149 |
|  |  | 5637255 |
| **Health Care - Products — 1.7%** | **Health Care - Products — 1.7%** | **Health Care - Products — 1.7%** |
| Abbott Laboratories, 1.40%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp; 2295 | 1950056 |
| Agilent Technologies Inc., 2.10%, 06/04/30 | &nbsp;&nbsp; 1885 | 1625221 |
| Baxter International Inc., 3.95%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1777 | 1691923 |
| Boston Scientific Corp., 2.65%, 06/01/30 | &nbsp;&nbsp; 4176 | 3744200 |
| Dentsply Sirona Inc., 3.25%, 06/01/30 | &nbsp;&nbsp; 2455 | 2195496 |
| GE HealthCare Technologies Inc., 5.86%, 03/15/30 | &nbsp;&nbsp; 4072 | 4253392 |
| Smith & Nephew PLC, 2.03%, 10/14/30 | &nbsp;&nbsp; 3265 | 2751019 |
| Stryker Corp., 1.95%, 06/15/30 | &nbsp;&nbsp; 3287 | 2824600 |
| Thermo Fisher Scientific Inc., 4.98%, 08/10/30 | &nbsp;&nbsp; 2692 | 2730261 |
|  |  | 23766168 |
| **Health Care - Services — 4.1%** | **Health Care - Services — 4.1%** | **Health Care - Services — 4.1%** |
| Advocate Health & Hospitals Corp., Series 2020, <br> 2.21%, 06/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 95 | 83364 |
| Banner Health, 2.34%, 01/01/30 | &nbsp;&nbsp; 604 | 538898 |
| Baylor Scott & White Holdings, Series 2021, 1.78%, <br> 11/15/30<br>| &nbsp;&nbsp; 671 | 567596 |
| Bon Secours Mercy Health Inc., 3.46%, 06/01/30 | &nbsp;&nbsp; 1340 | 1260319 |
| Centene Corp. |  |  |
| 3.00%, 10/15/30 | &nbsp;&nbsp; 7355 | 6369999 |
| 3.38%, 02/15/30 | &nbsp;&nbsp; 6580 | 5897288 |
| Cigna Group (The), 2.40%, 03/15/30 | &nbsp;&nbsp; 4629 | 4078172 |
| CommonSpirit Health, 2.78%, 10/01/30 | &nbsp;&nbsp; 1407 | 1250015 |
| Elevance Health Inc. |  |  |
| 2.25%, 05/15/30 | &nbsp;&nbsp; 3891 | 3387519 |
| 4.75%, 02/15/30 | &nbsp;&nbsp; 1770 | 1760654 |
| HCA Inc., 3.50%, 09/01/30 | &nbsp;&nbsp; 9068 | 8315867 |
| Humana Inc., 4.88%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1696 | 1670997 |
| Laboratory Corp. of America Holdings, 4.35%, <br> 04/01/30<br>| &nbsp;&nbsp; 2370 | 2295892 |
| Quest Diagnostics Inc., 2.95%, 06/30/30 | &nbsp;&nbsp; 2609 | 2354254 |
| Stanford Health Care, Series 2020, 3.31%, <br> 08/15/30<br>| &nbsp;&nbsp; 847 | 787916 |
| Sutter Health, Series 20A, 2.29%, 08/15/30 | &nbsp;&nbsp; 2090 | 1830078 |
| UnitedHealth Group Inc. |  |  |
| 2.00%, 05/15/30 | &nbsp;&nbsp; 4125 | 3574366 |
| 4.80%, 01/15/30 | &nbsp;&nbsp; 4135 | 4150782 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| 5.30%, 02/15/30 | &nbsp;&nbsp; $4155 | $4261425 |
| Universal Health Services Inc., 2.65%, 10/15/30 | &nbsp;&nbsp; 2670 | 2306492 |
|  |  | 56741893 |
| **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** | **Holding Companies - Diversified — 0.7%** |
| Ares Strategic Income Fund, 5.60%, 02/15/30<sup>(b)</sup> | &nbsp;&nbsp; 2470 | 2409821 |
| Blackstone Private Credit Fund, 5.25%, 04/01/30<sup>(b)</sup> | &nbsp;&nbsp; 1210 | 1171643 |
| Blue Owl Credit Income Corp., 5.80%, 03/15/30<sup>(b)</sup> | &nbsp;&nbsp; 2825 | 2745053 |
| Carlyle Secured Lending Inc., 6.75%, 02/18/30<sup>(a)</sup> | &nbsp;&nbsp; 930 | 935773 |
| North Haven Private Income Fund LLC, 5.75%, <br> 02/01/30<sup>(b)</sup><br>| &nbsp;&nbsp; 545 | 529083 |
| Sixth Street Lending Partners, 5.75%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 1755 | 1710956 |
|  |  | 9502329 |
| **Home Builders — 0.3%** | **Home Builders — 0.3%** | **Home Builders — 0.3%** |
| MDC Holdings Inc., 3.85%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1035 | 982521 |
| NVR Inc., 3.00%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3085 | 2793281 |
|  |  | 3775802 |
| **Household Products & Wares — 0.4%** | **Household Products & Wares — 0.4%** | **Household Products & Wares — 0.4%** |
| Avery Dennison Corp., 2.65%, 04/30/30 | &nbsp;&nbsp; 1505 | 1339428 |
| Clorox Co. (The), 1.80%, 05/15/30 | &nbsp;&nbsp; 1865 | 1594165 |
| Kimberly-Clark Corp., 3.10%, 03/26/30 | &nbsp;&nbsp; 2441 | 2266711 |
|  |  | 5200304 |
| **Insurance — 4.2%** | **Insurance — 4.2%** | **Insurance — 4.2%** |
| ACE Capital Trust II, Series N, 9.70%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1070 | 1306173 |
| Aflac Inc., 3.60%, 04/01/30 | &nbsp;&nbsp; 3381 | 3196202 |
| Alleghany Corp., 3.63%, 05/15/30 | &nbsp;&nbsp; 1683 | 1590900 |
| Allstate Corp. (The), 1.45%, 12/15/30 | &nbsp;&nbsp; 2197 | 1793113 |
| American Financial Group Inc./OH, 5.25%, <br> 04/02/30<sup>(a)</sup><br>| &nbsp;&nbsp; 828 | 843516 |
| American International Group Inc., 3.40%, <br> 06/30/30<sup>(a)</sup><br>| &nbsp;&nbsp; 1288 | 1193064 |
| Aon Corp., 2.80%, 05/15/30 | &nbsp;&nbsp; 3613 | 3236698 |
| Assurant Inc., 3.70%, 02/22/30 | &nbsp;&nbsp; 1325 | 1229478 |
| Athene Holding Ltd., 6.15%, 04/03/30 | &nbsp;&nbsp; 1880 | 1967416 |
| AXA SA, 8.60%, 12/15/30 | &nbsp;&nbsp; 2583 | 3112367 |
| Berkshire Hathaway Finance Corp. |  |  |
| 1.45%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2438 | 2039047 |
| 1.85%, 03/12/30<sup>(a)</sup> | &nbsp;&nbsp; 1730 | 1508697 |
| Brighthouse Financial Inc., 5.63%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1780 | 1818038 |
| Chubb INA Holdings LLC, 1.38%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3320 | 2766894 |
| CNA Financial Corp., 2.05%, 08/15/30 | &nbsp;&nbsp; 1730 | 1473685 |
| Fairfax Financial Holdings Ltd., 4.63%, 04/29/30 | &nbsp;&nbsp; 2110 | 2063795 |
| Fidelity National Financial Inc., 3.40%, 06/15/30 | &nbsp;&nbsp; 2375 | 2154570 |
| First American Financial Corp., 4.00%, 05/15/30 | &nbsp;&nbsp; 1635 | 1520560 |
| Globe Life Inc., 2.15%, 08/15/30 | &nbsp;&nbsp; 1484 | 1254513 |
| Hanover Insurance Group Inc. (The), 2.50%, <br> 09/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 983 | 848937 |
| Kemper Corp., 2.40%, 09/30/30 | &nbsp;&nbsp; 1289 | 1089896 |
| Lincoln National Corp., 3.05%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1014 | 921331 |
| Loews Corp., 3.20%, 05/15/30 | &nbsp;&nbsp; 1476 | 1357848 |
| Marsh & McLennan Companies Inc. |  |  |
| 2.25%, 11/15/30 | &nbsp;&nbsp; 2548 | 2212277 |
| 4.65%, 03/15/30 | &nbsp;&nbsp; 3625 | 3615559 |
| MetLife Inc., 4.55%, 03/23/30<sup>(a)</sup> | &nbsp;&nbsp; 3429 | 3405910 |
| Principal Financial Group Inc., 2.13%, 06/15/30 | &nbsp;&nbsp; 2239 | 1934440 |
| Progressive Corp. (The), 3.20%, 03/26/30 | &nbsp;&nbsp; 1690 | 1566387 |
| Prudential Financial Inc., 2.10%, 03/10/30<sup>(a)</sup> | &nbsp;&nbsp; 1587 | 1401660 |
| Prudential Funding Asia PLC, 3.13%, 04/14/30<sup>(a)</sup> | &nbsp;&nbsp; 3011 | 2780163 |
| Reinsurance Group of America Inc., 3.15%, <br> 06/15/30<br>| &nbsp;&nbsp; 2210 | 2007733 |
|  |  | 59210867 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet — 2.5%** | **Internet — 2.5%** | **Internet — 2.5%** |
| Alphabet Inc., 1.10%, 08/15/30 | &nbsp;&nbsp; $7137 | $5949014 |
| Amazon.com Inc., 1.50%, 06/03/30 | &nbsp;&nbsp; 6183 | 5263075 |
| Baidu Inc. |  |  |
| 2.38%, 10/09/30 | &nbsp;&nbsp; 345 | 301181 |
| 3.43%, 04/07/30<sup>(a)</sup> | &nbsp;&nbsp; 595 | 554540 |
| Booking Holdings Inc., 4.63%, 04/13/30 | &nbsp;&nbsp; 5023 | 5005670 |
| eBay Inc., 2.70%, 03/11/30<sup>(a)</sup> | &nbsp;&nbsp; 3247 | 2920565 |
| Expedia Group Inc., 3.25%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 4342 | 4014515 |
| JD.com Inc., 3.38%, 01/14/30<sup>(a)</sup> | &nbsp;&nbsp; 1795 | 1679342 |
| Meta Platforms Inc., 4.80%, 05/15/30 | &nbsp;&nbsp; 3435 | 3478241 |
| Tencent Music Entertainment Group, 2.00%, <br> 09/03/30<sup>(a)</sup><br>| &nbsp;&nbsp; 1309 | 1110875 |
| Uber Technologies Inc., 4.30%, 01/15/30 | &nbsp;&nbsp; 2475 | 2407816 |
| Weibo Corp., 3.38%, 07/08/30<sup>(a)</sup> | &nbsp;&nbsp; 2627 | 2358217 |
|  |  | 35043051 |
| **Iron & Steel — 0.7%** | **Iron & Steel — 0.7%** | **Iron & Steel — 0.7%** |
| Nucor Corp., 2.70%, 06/01/30 | &nbsp;&nbsp; 1767 | 1589628 |
| Reliance Inc., 2.15%, 08/15/30 | &nbsp;&nbsp; 1785 | 1527031 |
| Steel Dynamics Inc., 3.45%, 04/15/30 | &nbsp;&nbsp; 2178 | 2021618 |
| Vale Overseas Ltd., 3.75%, 07/08/30<sup>(a)</sup> | &nbsp;&nbsp; 4678 | 4355036 |
|  |  | 9493313 |
| **Lodging — 0.7%** | **Lodging — 0.7%** | **Lodging — 0.7%** |
| Hyatt Hotels Corp., 5.75%, 04/23/30 | &nbsp;&nbsp; 1628 | 1669836 |
| Marriott International Inc./MD |  |  |
| 4.80%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1755 | 1742413 |
| Series FF, 4.63%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3533 | 3485446 |
| Sands China Ltd., 4.38%, 06/18/30<sup>(a)</sup> | &nbsp;&nbsp; 2476 | 2332244 |
|  |  | 9229939 |
| **Machinery — 1.3%** | **Machinery — 1.3%** | **Machinery — 1.3%** |
| Caterpillar Inc., 2.60%, 04/09/30 | &nbsp;&nbsp; 2821 | 2552718 |
| Deere & Co., 3.10%, 04/15/30 | &nbsp;&nbsp; 2358 | 2180802 |
| Flowserve Corp., 3.50%, 10/01/30 | &nbsp;&nbsp; 1650 | 1506719 |
| IDEX Corp., 3.00%, 05/01/30 | &nbsp;&nbsp; 1830 | 1653169 |
| John Deere Capital Corp. |  |  |
| 2.45%, 01/09/30 | &nbsp;&nbsp; 1757 | 1582015 |
| 4.70%, 06/10/30 | &nbsp;&nbsp; 3370 | 3375028 |
| Oshkosh Corp., 3.10%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1184 | 1076215 |
| Otis Worldwide Corp., 2.57%, 02/15/30 | &nbsp;&nbsp; 5169 | 4605282 |
|  |  | 18531948 |
| **Manufacturing — 0.4%** | **Manufacturing — 0.4%** | **Manufacturing — 0.4%** |
| 3M Co., 3.05%, 04/15/30 | &nbsp;&nbsp; 2026 | 1865224 |
| Carlisle Companies Inc., 2.75%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2542 | 2285969 |
| Textron Inc., 3.00%, 06/01/30 | &nbsp;&nbsp; 2330 | 2106718 |
|  |  | 6257911 |
| **Media — 1.8%** | **Media — 1.8%** | **Media — 1.8%** |
| Comcast Corp. |  |  |
| 2.65%, 02/01/30 | &nbsp;&nbsp; 5336 | 4811393 |
| 3.40%, 04/01/30 | &nbsp;&nbsp; 5309 | 4956250 |
| 4.25%, 10/15/30 | &nbsp;&nbsp; 4994 | 4857767 |
| Discovery Communications LLC, 3.63%, 05/15/30 | &nbsp;&nbsp; 3372 | 2986206 |
| Fox Corp., 3.50%, 04/08/30 | &nbsp;&nbsp; 1935 | 1799111 |
| Paramount Global, 7.88%, 07/30/30<sup>(a)</sup> | &nbsp;&nbsp; 1985 | 2138006 |
| Walt Disney Co. (The), 3.80%, 03/22/30<sup>(a)</sup> | &nbsp;&nbsp; 4338 | 4158903 |
|  |  | 25707636 |
| **Mining — 0.9%** | **Mining — 0.9%** | **Mining — 0.9%** |
| AngloGold Ashanti Holdings PLC, 3.75%, 10/01/30 | &nbsp;&nbsp; 2202 | 1998577 |
| BHP Billiton Finance USA Ltd., 5.25%, 09/08/30<sup>(a)</sup> | &nbsp;&nbsp; 3015 | 3090355 |
| Freeport-McMoRan Inc. |  |  |
| 4.25%, 03/01/30 | &nbsp;&nbsp; 1688 | 1615056 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| 4.63%, 08/01/30 | &nbsp;&nbsp; $2010 | $1960254 |
| Newmont Corp., 2.25%, 10/01/30 | &nbsp;&nbsp; 3572 | 3115939 |
| Newmont Corp./Newcrest Finance Pty. Ltd., 3.25%, <br> 05/13/30<br>| &nbsp;&nbsp; 1405 | 1300530 |
|  |  | 13080711 |
| **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** |
| CDW LLC/CDW Finance Corp., 5.10%, 03/01/30 | &nbsp;&nbsp; 2110 | 2095268 |
| **Oil & Gas — 4.7%** | **Oil & Gas — 4.7%** | **Oil & Gas — 4.7%** |
| Apache Corp., 4.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1890 | 1778861 |
| BP Capital Markets America Inc. |  |  |
| 1.75%, 08/10/30<sup>(a)</sup> | &nbsp;&nbsp; 3425 | 2904251 |
| 3.63%, 04/06/30<sup>(a)</sup> | &nbsp;&nbsp; 4180 | 3953124 |
| Canadian Natural Resources Ltd., 2.95%, 07/15/30 | &nbsp;&nbsp; 1885 | 1685228 |
| Chevron Corp., 2.24%, 05/11/30 | &nbsp;&nbsp; 5316 | 4694870 |
| Devon Energy Corp., 4.50%, 01/15/30 | &nbsp;&nbsp; 2052 | 1985855 |
| Diamondback Energy Inc., 5.15%, 01/30/30 | &nbsp;&nbsp; 3030 | 3045327 |
| EOG Resources Inc., 4.38%, 04/15/30 | &nbsp;&nbsp; 2805 | 2753041 |
| EQT Corp., 7.00%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2413 | 2580417 |
| Expand Energy Corp., 5.38%, 03/15/30 | &nbsp;&nbsp; 1615 | 1587943 |
| Exxon Mobil Corp. |  |  |
| 2.61%, 10/15/30 | &nbsp;&nbsp; 6659 | 5967831 |
| 3.48%, 03/19/30 | &nbsp;&nbsp; 6625 | 6275918 |
| HF Sinclair Corp., 4.50%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1115 | 1063440 |
| Occidental Petroleum Corp. |  |  |
| 6.63%, 09/01/30 | &nbsp;&nbsp; 4847 | 5093166 |
| 8.88%, 07/15/30 | &nbsp;&nbsp; 3395 | 3900792 |
| Ovintiv Inc., 8.13%, 09/15/30 | &nbsp;&nbsp; 1130 | 1274720 |
| Phillips 66, 2.15%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2970 | 2536379 |
| Pioneer Natural Resources Co., 1.90%, 08/15/30 | &nbsp;&nbsp; 3267 | 2784581 |
| Shell Finance U.S. Inc., 2.75%, 04/06/30 | &nbsp;&nbsp; 5360 | 4876829 |
| Tosco Corp., 8.13%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 834 | 965479 |
| TotalEnergies Capital International SA, 2.83%, <br> 01/10/30<br>| &nbsp;&nbsp; 4195 | 3839315 |
|  |  | 65547367 |
| **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** |
| Baker Hughes Holdings LLC/Baker Hughes <br> Co-Obligor Inc., 4.49%, 05/01/30<br>| &nbsp;&nbsp; 1720 | 1690876 |
| Halliburton Co., 2.92%, 03/01/30 | &nbsp;&nbsp; 3284 | 2976949 |
| Schlumberger Investment SA, 2.65%, 06/26/30<sup>(a)</sup> | &nbsp;&nbsp; 3631 | 3258063 |
|  |  | 7925888 |
| **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** |
| Amcor Flexibles North America Inc., 2.63%, <br> 06/19/30<br>| &nbsp;&nbsp; 1755 | 1541870 |
| Smurfit Kappa Treasury ULC, 5.20%, 01/15/30<sup>(b)</sup> | &nbsp;&nbsp; 2335 | 2354489 |
| Sonoco Products Co., 3.13%, 05/01/30 | &nbsp;&nbsp; 2170 | 1972830 |
| WestRock MWV LLC, 8.20%, 01/15/30 | &nbsp;&nbsp; 1410 | 1612291 |
|  |  | 7481480 |
| **Pharmaceuticals — 5.1%** | **Pharmaceuticals — 5.1%** | **Pharmaceuticals — 5.1%** |
| Astrazeneca Finance LLC, 4.90%, 03/03/30<sup>(a)</sup> | &nbsp;&nbsp; 2210 | 2236604 |
| AstraZeneca PLC, 1.38%, 08/06/30 | &nbsp;&nbsp; 4200 | 3510841 |
| Becton Dickinson & Co., 2.82%, 05/20/30 | &nbsp;&nbsp; 2446 | 2197838 |
| Bristol-Myers Squibb Co., 1.45%, 11/13/30<sup>(a)</sup> | &nbsp;&nbsp; 4255 | 3539067 |
| Cencora Inc., 2.80%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1690 | 1518855 |
| CVS Health Corp. |  |  |
| 1.75%, 08/21/30 | &nbsp;&nbsp; 4195 | 3457742 |
| 3.75%, 04/01/30 | &nbsp;&nbsp; 5051 | 4685307 |
| 5.13%, 02/21/30 | &nbsp;&nbsp; 4900 | 4866148 |
| Johnson & Johnson, 1.30%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp; 5584 | 4705144 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Merck & Co. Inc. |  |  |
| 1.45%, 06/24/30<sup>(a)</sup> | &nbsp;&nbsp; $4162 | $3506492 |
| 4.30%, 05/17/30<sup>(a)</sup> | &nbsp;&nbsp; 2460 | 2426619 |
| Novartis Capital Corp., 2.20%, 08/14/30<sup>(a)</sup> | &nbsp;&nbsp; 4930 | 4341227 |
| Pfizer Inc. |  |  |
| 1.70%, 05/28/30<sup>(a)</sup> | &nbsp;&nbsp; 3114 | 2668024 |
| 2.63%, 04/01/30 | &nbsp;&nbsp; 3943 | 3564839 |
| Pfizer Investment Enterprises Pte Ltd., 4.65%, <br> 05/19/30<sup>(a)</sup><br>| &nbsp;&nbsp; 9780 | 9769912 |
| Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30 | &nbsp;&nbsp; 7974 | 6930097 |
| Viatris Inc., 2.70%, 06/22/30 | &nbsp;&nbsp; 4968 | 4311057 |
| Zoetis Inc., 2.00%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2710 | 2340008 |
|  |  | 70575821 |
| **Pipelines — 3.7%** | **Pipelines — 3.7%** | **Pipelines — 3.7%** |
| DCP Midstream Operating LP, 8.13%, 08/16/30<sup>(a)</sup> | &nbsp;&nbsp; 1106 | 1265545 |
| Enbridge Inc., 6.20%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2630 | 2789960 |
| Energy Transfer LP |  |  |
| 3.75%, 05/15/30 | &nbsp;&nbsp; 5022 | 4686159 |
| 6.40%, 12/01/30 | &nbsp;&nbsp; 3373 | 3578923 |
| Enterprise Products Operating LLC, 2.80%, <br> 01/31/30<br>| &nbsp;&nbsp; 4417 | 4009772 |
| MPLX LP, 2.65%, 08/15/30 | &nbsp;&nbsp; 4978 | 4379718 |
| ONEOK Inc. |  |  |
| 3.10%, 03/15/30 | &nbsp;&nbsp; 2576 | 2341998 |
| 3.25%, 06/01/30 | &nbsp;&nbsp; 1708 | 1559169 |
| 5.80%, 11/01/30 | &nbsp;&nbsp; 1669 | 1732306 |
| Plains All American Pipeline LP/PAA Finance Corp., <br> 3.80%, 09/15/30<br>| &nbsp;&nbsp; 2532 | 2358623 |
| Sabine Pass Liquefaction LLC, 4.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 6745 | 6561893 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp., 5.50%, 03/01/30<br>| &nbsp;&nbsp; 3225 | 3231140 |
| TransCanada PipeLines Ltd., 4.10%, 04/15/30 | &nbsp;&nbsp; 4409 | 4217386 |
| Transcontinental Gas Pipe Line Co. LLC, 3.25%, <br> 05/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 2599 | 2373583 |
| Western Midstream Operating LP, 4.05%, 02/01/30 | &nbsp;&nbsp; 3623 | 3403662 |
| Williams Companies Inc. (The), 3.50%, 11/15/30 | &nbsp;&nbsp; 3277 | 3018793 |
|  |  | 51508630 |
| **Real Estate Investment Trusts — 5.9%** | **Real Estate Investment Trusts — 5.9%** | **Real Estate Investment Trusts — 5.9%** |
| Agree LP, 2.90%, 10/01/30 | &nbsp;&nbsp; 1227 | 1085532 |
| Alexandria Real Estate Equities Inc. |  |  |
| 4.70%, 07/01/30 | &nbsp;&nbsp; 1530 | 1502267 |
| 4.90%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2527 | 2507888 |
| American Tower Corp. |  |  |
| 1.88%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2734 | 2296471 |
| 2.10%, 06/15/30 | &nbsp;&nbsp; 2578 | 2213339 |
| 2.90%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2610 | 2362868 |
| AvalonBay Communities Inc., 2.30%, 03/01/30 | &nbsp;&nbsp; 2099 | 1850786 |
| Boston Properties LP, 2.90%, 03/15/30 | &nbsp;&nbsp; 2499 | 2204432 |
| Brixmor Operating Partnership LP, 4.05%, <br> 07/01/30<sup>(a)</sup><br>| &nbsp;&nbsp; 2790 | 2641509 |
| Camden Property Trust, 2.80%, 05/15/30 | &nbsp;&nbsp; 2429 | 2187551 |
| Crown Castle Inc., 3.30%, 07/01/30 | &nbsp;&nbsp; 2413 | 2200018 |
| CubeSmart LP, 3.00%, 02/15/30 | &nbsp;&nbsp; 1112 | 1004866 |
| Equinix Inc., 2.15%, 07/15/30 | &nbsp;&nbsp; 3852 | 3323428 |
| ERP Operating LP, 2.50%, 02/15/30 | &nbsp;&nbsp; 1859 | 1656004 |
| Essex Portfolio LP, 3.00%, 01/15/30 | &nbsp;&nbsp; 1672 | 1519695 |
| Extra Space Storage LP |  |  |
| 2.20%, 10/15/30 | &nbsp;&nbsp; 1390 | 1188241 |
| 5.50%, 07/01/30 | &nbsp;&nbsp; 1658 | 1693283 |
| Federal Realty OP LP, 3.50%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1268 | 1164218 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| GLP Capital LP/GLP Financing II Inc., 4.00%, <br> 01/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; $2396 | $2231535 |
| Healthcare Realty Holdings LP, 3.10%, 02/15/30 | &nbsp;&nbsp; 2276 | 2047995 |
| Healthpeak OP LLC, 3.00%, 01/15/30 | &nbsp;&nbsp; 2432 | 2218988 |
| Highwoods Realty LP, 3.05%, 02/15/30 | &nbsp;&nbsp; 895 | 786463 |
| Host Hotels & Resorts LP, Series I, 3.50%, 09/15/30 | &nbsp;&nbsp; 2648 | 2396028 |
| Invitation Homes Operating Partnership LP, 5.45%, <br> 08/15/30<br>| &nbsp;&nbsp; 1620 | 1646193 |
| Kilroy Realty LP, 3.05%, 02/15/30 | &nbsp;&nbsp; 1820 | 1600821 |
| Kimco Realty OP LLC, 2.70%, 10/01/30 | &nbsp;&nbsp; 1603 | 1425992 |
| Kite Realty Group Trust, 4.75%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1295 | 1264648 |
| LXP Industrial Trust, 2.70%, 09/15/30 | &nbsp;&nbsp; 1342 | 1160443 |
| Mid-America Apartments LP, 2.75%, 03/15/30 | &nbsp;&nbsp; 923 | 831003 |
| NNN REIT Inc., 2.50%, 04/15/30 | &nbsp;&nbsp; 1028 | 901365 |
| Piedmont Operating Partnership LP, 3.15%, <br> 08/15/30<br>| &nbsp;&nbsp; 1031 | 881709 |
| Prologis LP |  |  |
| 1.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2275 | 1870079 |
| 1.75%, 07/01/30 | &nbsp;&nbsp; 1183 | 1004031 |
| 2.25%, 04/15/30 | &nbsp;&nbsp; 3341 | 2940581 |
| Realty Income Corp. |  |  |
| 3.40%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1675 | 1560352 |
| 4.85%, 03/15/30 | &nbsp;&nbsp; 1775 | 1771429 |
| Regency Centers LP, 3.70%, 06/15/30 | &nbsp;&nbsp; 2125 | 1992818 |
| Rexford Industrial Realty LP, 2.13%, 12/01/30 | &nbsp;&nbsp; 1363 | 1147215 |
| Simon Property Group LP, 2.65%, 07/15/30 | &nbsp;&nbsp; 2456 | 2191493 |
| Store Capital LLC, 2.75%, 11/18/30 | &nbsp;&nbsp; 1155 | 985887 |
| UDR Inc., 3.20%, 01/15/30 | &nbsp;&nbsp; 2175 | 2001698 |
| Ventas Realty LP |  |  |
| 3.00%, 01/15/30 | &nbsp;&nbsp; 2152 | 1949303 |
| 4.75%, 11/15/30 | &nbsp;&nbsp; 1573 | 1548875 |
| VICI Properties LP, 4.95%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3285 | 3222910 |
| Welltower OP LLC, 3.10%, 01/15/30 | &nbsp;&nbsp; 2457 | 2256673 |
| Weyerhaeuser Co., 4.00%, 04/15/30 | &nbsp;&nbsp; 2481 | 2375375 |
|  |  | 82814298 |
| **Retail — 3.7%** | **Retail — 3.7%** | **Retail — 3.7%** |
| AutoNation Inc., 4.75%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1863 | 1815740 |
| AutoZone Inc., 4.00%, 04/15/30 | &nbsp;&nbsp; 2583 | 2473673 |
| Best Buy Co. Inc., 1.95%, 10/01/30 | &nbsp;&nbsp; 2210 | 1878546 |
| Costco Wholesale Corp., 1.60%, 04/20/30<sup>(a)</sup> | &nbsp;&nbsp; 5519 | 4722718 |
| Dollar General Corp., 3.50%, 04/03/30<sup>(a)</sup> | &nbsp;&nbsp; 3161 | 2911767 |
| Genuine Parts Co., 1.88%, 11/01/30 | &nbsp;&nbsp; 1780 | 1485932 |
| Home Depot Inc. (The), 2.70%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 5066 | 4586810 |
| Lowe's Companies Inc. |  |  |
| 1.70%, 10/15/30 | &nbsp;&nbsp; 4230 | 3542145 |
| 4.50%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 4210 | 4151619 |
| McDonald's Corp. |  |  |
| 2.13%, 03/01/30 | &nbsp;&nbsp; 2529 | 2214447 |
| 3.60%, 07/01/30 | &nbsp;&nbsp; 3376 | 3181746 |
| O'Reilly Automotive Inc., 4.20%, 04/01/30 | &nbsp;&nbsp; 1775 | 1714891 |
| Starbucks Corp. |  |  |
| 2.25%, 03/12/30<sup>(a)</sup> | &nbsp;&nbsp; 2516 | 2218102 |
| 2.55%, 11/15/30 | &nbsp;&nbsp; 4320 | 3799622 |
| Target Corp. |  |  |
| 2.35%, 02/15/30 | &nbsp;&nbsp; 2756 | 2463041 |
| 2.65%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1487 | 1338090 |
| TJX Companies Inc. (The), 3.88%, 04/15/30 | &nbsp;&nbsp; 1943 | 1869112 |
| Tractor Supply Co., 1.75%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2188 | 1829308 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| Walmart Inc. |  |  |
| 4.00%, 04/15/30 | &nbsp;&nbsp; $1555 | $1528903 |
| 7.55%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1420 | 1633967 |
|  |  | 51360179 |
| **Semiconductors — 3.2%** | **Semiconductors — 3.2%** | **Semiconductors — 3.2%** |
| Applied Materials Inc., 1.75%, 06/01/30 | &nbsp;&nbsp; 2681 | 2297545 |
| Broadcom Inc. |  |  |
| 4.15%, 11/15/30 | &nbsp;&nbsp; 6285 | 6028578 |
| 4.35%, 02/15/30 | &nbsp;&nbsp; 3790 | 3691730 |
| 5.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2149 | 2165418 |
| Intel Corp. |  |  |
| 3.90%, 03/25/30 | &nbsp;&nbsp; 5093 | 4778325 |
| 5.13%, 02/10/30 | &nbsp;&nbsp; 4195 | 4186816 |
| Lam Research Corp., 1.90%, 06/15/30 | &nbsp;&nbsp; 2892 | 2489408 |
| Micron Technology Inc., 4.66%, 02/15/30 | &nbsp;&nbsp; 3064 | 3005686 |
| NVIDIA Corp., 2.85%, 04/01/30 | &nbsp;&nbsp; 4874 | 4492206 |
| NXP BV/NXP Funding LLC/NXP USA Inc., 3.40%, <br> 05/01/30<br>| &nbsp;&nbsp; 3317 | 3057701 |
| Qualcomm Inc., 2.15%, 05/20/30 | &nbsp;&nbsp; 4002 | 3516753 |
| Texas Instruments Inc., 1.75%, 05/04/30 | &nbsp;&nbsp; 2433 | 2092079 |
| Xilinx Inc., 2.38%, 06/01/30 | &nbsp;&nbsp; 2794 | 2474229 |
|  |  | 44276474 |
| **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** |
| Huntington Ingalls Industries Inc., 4.20%, 05/01/30 | &nbsp;&nbsp; 1625 | 1548981 |
| **Software — 2.6%** | **Software — 2.6%** | **Software — 2.6%** |
| Adobe Inc., 2.30%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp; 4201 | 3759790 |
| Autodesk Inc., 2.85%, 01/15/30 | &nbsp;&nbsp; 1652 | 1503344 |
| Fiserv Inc. |  |  |
| 2.65%, 06/01/30 | &nbsp;&nbsp; 3245 | 2884397 |
| 4.75%, 03/15/30 | &nbsp;&nbsp; 3040 | 3021188 |
| Intuit Inc., 1.65%, 07/15/30 | &nbsp;&nbsp; 1765 | 1496308 |
| Microsoft Corp., 1.35%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1424 | 1209675 |
| Oracle Corp. |  |  |
| 2.95%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 10725 | 9732988 |
| 3.25%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 1698 | 1565863 |
| 4.65%, 05/06/30 | &nbsp;&nbsp; 2585 | 2563432 |
| Roper Technologies Inc., 2.00%, 06/30/30 | &nbsp;&nbsp; 2245 | 1920456 |
| ServiceNow Inc., 1.40%, 09/01/30 | &nbsp;&nbsp; 4810 | 4017399 |
| VMware LLC, 4.70%, 05/15/30 | &nbsp;&nbsp; 2731 | 2682075 |
|  |  | 36356915 |
| **Telecommunications — 6.2%** | **Telecommunications — 6.2%** | **Telecommunications — 6.2%** |
| America Movil SAB de CV, 2.88%, 05/07/30<sup>(a)</sup> | &nbsp;&nbsp; 3509 | 3149908 |
| AT&T Inc., 4.30%, 02/15/30 | &nbsp;&nbsp; 10650 | 10365651 |
| British Telecommunications PLC, 9.63%, 12/15/30 | &nbsp;&nbsp; 8795 | 10810902 |
| Deutsche Telekom International Finance BV, 8.75%, <br> 06/15/30<br>| &nbsp;&nbsp; 11738 | 13807957 |
| Juniper Networks Inc., 2.00%, 12/10/30 | &nbsp;&nbsp; 1472 | 1225795 |
| Koninklijke KPN NV, 8.38%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2087 | 2440465 |
| Motorola Solutions Inc., 2.30%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp; 3093 | 2658635 |
| Telefonica Europe BV, 8.25%, 09/15/30 | &nbsp;&nbsp; 4340 | 4995652 |
| T-Mobile USA Inc., 3.88%, 04/15/30 | &nbsp;&nbsp; 23163 | 22003134 |
| Verizon Communications Inc. |  |  |
| 1.50%, 09/18/30 | &nbsp;&nbsp; 3466 | 2884990 |
| 1.68%, 10/30/30 | &nbsp;&nbsp; 3686 | 3063423 |
| 3.15%, 03/22/30 | &nbsp;&nbsp; 5086 | 4669883 |
| 7.75%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1910 | 2195553 |
| Vodafone Group PLC, 7.88%, 02/15/30 | &nbsp;&nbsp; 1603 | 1829584 |
|  |  | 86101532 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation — 0.9%** | **Transportation — 0.9%** | **Transportation — 0.9%** |
| Canadian Pacific Railway Co., 2.05%, 03/05/30<sup>(a)</sup> | &nbsp;&nbsp; $1749 | $1524493 |
| CSX Corp., 2.40%, 02/15/30 | &nbsp;&nbsp; 1356 | 1208891 |
| FedEx Corp., 4.25%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp; 2557 | 2487179 |
| Norfolk Southern Corp., 5.05%, 08/01/30 | &nbsp;&nbsp; 2105 | 2134549 |
| Union Pacific Corp., 2.40%, 02/05/30 | &nbsp;&nbsp; 2607 | 2331398 |
| United Parcel Service Inc., 4.45%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp; 2588 | 2569357 |
|  |  | 12255867 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| GATX Corp., 4.00%, 06/30/30 | &nbsp;&nbsp; 1643 | 1554620 |
| **Water — 0.2%** | **Water — 0.2%** | **Water — 0.2%** |
| American Water Capital Corp., 2.80%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp; 1669 | 1505702 |
| Essential Utilities Inc., 2.70%, 04/15/30 | &nbsp;&nbsp; 1643 | 1467024 |
|  |  | 2972726 |
| **Total Long-Term Investments — 98.9%** <br>**(Cost: $1,382,836,455)** | **Total Long-Term Investments — 98.9%** <br>**(Cost: $1,382,836,455)** | 1380464582 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 7.1%** | **Money Market Funds — 7.1%** | **Money Market Funds — 7.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 94005803 | 94071608 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 4210000 | $4210000 |
| **Total Short-Term Securities — 7.1%** <br>**(Cost: $98,245,160)** | **Total Short-Term Securities — 7.1%** <br>**(Cost: $98,245,160)** | 98281608 |
| **Total Investments — 106.0%** <br>**(Cost: $1,481,081,615)** | **Total Investments — 106.0%** <br>**(Cost: $1,481,081,615)** | 1478746190 |
| **Liabilities in Excess of Other Assets — (6.0)%** | **Liabilities in Excess of Other Assets — (6.0)%** | (83201720)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1395544470 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $29928838<br> $64127335 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(9835)<br>| $25270 | $94071608 | 94005803 | $163630 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 1710000<br> 2500000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 4210000 | 4210000 | 132099 | &nbsp;&nbsp; — |
|  |  |  | $(9835)<br>| $25270 | $98281608 |  | $295729 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Corporate ETF** 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1380464582 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1380464582 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 98281608 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 98281608 |
|  | &nbsp;&nbsp; $98281608 | &nbsp;&nbsp; $1380464582 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1478746190 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2031 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.4%** | **Advertising — 0.4%** | **Advertising — 0.4%** |
| Interpublic Group of Companies Inc. (The), 2.40%, <br> 03/01/31<br>| &nbsp;&nbsp; $1836 | $1565017 |
| Omnicom Group Inc., 2.60%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp; 3047 | 2628041 |
|  |  | 4193058 |
| **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** |
| Boeing Co. (The) |  |  |
| 3.63%, 02/01/31 | &nbsp;&nbsp; 5252 | 4741305 |
| 6.39%, 05/01/31<sup>(b)</sup> | &nbsp;&nbsp; 3740 | 3912352 |
| General Dynamics Corp., 2.25%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 1936 | 1680603 |
| Howmet Aerospace Inc., 4.85%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 785 | 778338 |
| L3Harris Technologies Inc. |  |  |
| 1.80%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2755 | 2293846 |
| 5.25%, 06/01/31 | &nbsp;&nbsp; 2435 | 2468132 |
| RTX Corp. |  |  |
| 1.90%, 09/01/31 | &nbsp;&nbsp; 4045 | 3343988 |
| 6.00%, 03/15/31 | &nbsp;&nbsp; 4040 | 4277907 |
|  |  | 23496471 |
| **Agriculture — 1.6%** | **Agriculture — 1.6%** | **Agriculture — 1.6%** |
| BAT Capital Corp. |  |  |
| 2.73%, 03/25/31 | &nbsp;&nbsp; 4740 | 4129908 |
| 5.83%, 02/20/31 | &nbsp;&nbsp; 3270 | 3372116 |
| Bunge Ltd. Finance Corp., 2.75%, 05/14/31<sup>(a)</sup> | &nbsp;&nbsp; 4065 | 3562866 |
| Philip Morris International Inc. |  |  |
| 4.75%, 11/01/31 | &nbsp;&nbsp; 2150 | 2114829 |
| 5.13%, 02/13/31 | &nbsp;&nbsp; 4820 | 4865037 |
|  |  | 18044756 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| United Airlines Pass-Through Trust, Series 2019, <br> Class AA, 4.15%, 02/25/33<sup>(a)</sup><br>| &nbsp;&nbsp; 1602 | 1532267 |
| **Auto Manufacturers — 4.5%** | **Auto Manufacturers — 4.5%** | **Auto Manufacturers — 4.5%** |
| American Honda Finance Corp. |  |  |
| 1.80%, 01/13/31<sup>(a)</sup> | &nbsp;&nbsp; 2229 | 1863696 |
| 4.85%, 10/23/31 | &nbsp;&nbsp; 2425 | 2395136 |
| 5.05%, 07/10/31<sup>(a)</sup> | &nbsp;&nbsp; 2925 | 2935827 |
| Ford Motor Co., 7.45%, 07/16/31<sup>(a)</sup> | &nbsp;&nbsp; 4095 | 4434268 |
| Ford Motor Credit Co. LLC |  |  |
| 3.63%, 06/17/31 | &nbsp;&nbsp; 3815 | 3318543 |
| 6.05%, 03/05/31<sup>(a)</sup> | &nbsp;&nbsp; 3810 | 3833309 |
| 6.05%, 11/05/31 | &nbsp;&nbsp; 1400 | 1400000 |
| General Motors Financial Co. Inc. |  |  |
| 2.35%, 01/08/31<sup>(a)</sup> | &nbsp;&nbsp; 3750 | 3158081 |
| 2.70%, 06/10/31<sup>(a)</sup> | &nbsp;&nbsp; 3793 | 3221692 |
| 5.60%, 06/18/31<sup>(a)</sup> | &nbsp;&nbsp; 3800 | 3830036 |
| 5.75%, 02/08/31 | &nbsp;&nbsp; 3732 | 3801305 |
| Mercedes-Benz Finance North America LLC, <br> 8.50%, 01/18/31<br>| &nbsp;&nbsp; 5655 | 6694746 |
| Toyota Motor Corp., 2.36%, 03/25/31<sup>(a)</sup> | &nbsp;&nbsp; 1739 | 1523760 |
| Toyota Motor Credit Corp. |  |  |
| 1.65%, 01/10/31<sup>(a)</sup> | &nbsp;&nbsp; 2165 | 1802272 |
| 1.90%, 09/12/31 | &nbsp;&nbsp; 2063 | 1719363 |
| 4.60%, 10/10/31 | &nbsp;&nbsp; 2595 | 2547439 |
| 5.10%, 03/21/31<sup>(a)</sup> | &nbsp;&nbsp; 3120 | 3163672 |
|  |  | 51643145 |
| **Banks — 3.7%** | **Banks — 3.7%** | **Banks — 3.7%** |
| Banco Santander SA |  |  |
| 2.96%, 03/25/31<sup>(a)</sup> | &nbsp;&nbsp; 2835 | 2497392 |
| 5.44%, 07/15/31 | &nbsp;&nbsp; 5670 | 5760049 |
| Bank of Montreal, 5.51%, 06/04/31<sup>(a)</sup> | &nbsp;&nbsp; 3165 | 3239812 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Bank of New York Mellon Corp. (The) |  |  |
| 1.65%, 01/28/31<sup>(a)</sup> | &nbsp;&nbsp; $1966 | $1645842 |
| 1.80%, 07/28/31<sup>(a)</sup> | &nbsp;&nbsp; 1892 | 1576789 |
| Bank of Nova Scotia (The), 2.15%, 08/01/31 | &nbsp;&nbsp; 2716 | 2281888 |
| Mizuho Financial Group Inc., 2.56%, 09/13/31 | &nbsp;&nbsp; 3831 | 3226511 |
| Royal Bank of Canada, 2.30%, 11/03/31 | &nbsp;&nbsp; 5848 | 4979744 |
| State Street Corp., 2.20%, 03/03/31<sup>(a)</sup> | &nbsp;&nbsp; 3127 | 2684612 |
| Sumitomo Mitsui Financial Group Inc. |  |  |
| 1.71%, 01/12/31<sup>(a)</sup> | &nbsp;&nbsp; 1860 | 1538463 |
| 2.22%, 09/17/31<sup>(a)</sup> | &nbsp;&nbsp; 3775 | 3163874 |
| 5.42%, 07/09/31 | &nbsp;&nbsp; 3380 | 3450218 |
| Toronto-Dominion Bank (The), 2.00%, 09/10/31<sup>(a)</sup> | &nbsp;&nbsp; 3651 | 3050325 |
| Westpac Banking Corp., 2.15%, 06/03/31 | &nbsp;&nbsp; 3852 | 3310517 |
|  |  | 42406036 |
| **Beverages — 2.0%** | **Beverages — 2.0%** | **Beverages — 2.0%** |
| Anheuser-Busch InBev Worldwide Inc., 4.90%, <br> 01/23/31<sup>(a)</sup><br>| &nbsp;&nbsp; 2847 | 2877171 |
| Coca-Cola Co. (The) |  |  |
| 1.38%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 4855 | 3998892 |
| 2.00%, 03/05/31<sup>(a)</sup> | &nbsp;&nbsp; 2917 | 2507179 |
| Constellation Brands Inc., 2.25%, 08/01/31 | &nbsp;&nbsp; 3815 | 3213184 |
| Keurig Dr Pepper Inc. |  |  |
| 2.25%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1892 | 1616179 |
| Series 10, 5.20%, 03/15/31 | &nbsp;&nbsp; 2055 | 2084686 |
| PepsiCo Inc. |  |  |
| 1.40%, 02/25/31<sup>(a)</sup> | &nbsp;&nbsp; 3052 | 2514758 |
| 1.95%, 10/21/31<sup>(a)</sup> | &nbsp;&nbsp; 4765 | 4002976 |
|  |  | 22815025 |
| **Biotechnology — 0.7%** | **Biotechnology — 0.7%** | **Biotechnology — 0.7%** |
| Amgen Inc., 2.30%, 02/25/31<sup>(a)</sup> | &nbsp;&nbsp; 4858 | 4185363 |
| Illumina Inc., 2.55%, 03/23/31<sup>(a)</sup> | &nbsp;&nbsp; 2123 | 1813554 |
| Royalty Pharma PLC, 2.15%, 09/02/31<sup>(a)</sup> | &nbsp;&nbsp; 2244 | 1859761 |
|  |  | 7858678 |
| **Building Materials — 1.1%** | **Building Materials — 1.1%** | **Building Materials — 1.1%** |
| Carrier Global Corp., 2.70%, 02/15/31 | &nbsp;&nbsp; 3328 | 2918645 |
| Eagle Materials Inc., 2.50%, 07/01/31 | &nbsp;&nbsp; 3130 | 2704546 |
| Johnson Controls International PLC/Tyco Fire & <br> Security Finance SCA, 2.00%, 09/16/31<br>| &nbsp;&nbsp; 1820 | 1523246 |
| Martin Marietta Materials Inc., 2.40%, 07/15/31 | &nbsp;&nbsp; 3866 | 3306481 |
| Masco Corp., 2.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2688 | 2263739 |
|  |  | 12716657 |
| **Chemicals — 0.7%** | **Chemicals — 0.7%** | **Chemicals — 0.7%** |
| Air Products and Chemicals Inc., 4.75%, <br> 02/08/31<sup>(a)</sup><br>| &nbsp;&nbsp; 2468 | 2471832 |
| Ecolab Inc., 1.30%, 01/30/31 | &nbsp;&nbsp; 2266 | 1852121 |
| Huntsman International LLC, 2.95%, 06/15/31 | &nbsp;&nbsp; 1740 | 1470701 |
| NewMarket Corp., 2.70%, 03/18/31 | &nbsp;&nbsp; 1651 | 1421561 |
| Sherwin-Williams Co. (The), 4.80%, 09/01/31 | &nbsp;&nbsp; 820 | 812803 |
|  |  | 8029018 |
| **Commercial Services — 0.8%** | **Commercial Services — 0.8%** | **Commercial Services — 0.8%** |
| Equifax Inc., 2.35%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3840 | 3231155 |
| Global Payments Inc., 2.90%, 11/15/31 | &nbsp;&nbsp; 3107 | 2681451 |
| GXO Logistics Inc., 2.65%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1718 | 1473422 |
| Moody's Corp., 2.00%, 08/19/31<sup>(a)</sup> | &nbsp;&nbsp; 2690 | 2255093 |
|  |  | 9641121 |
| **Computers — 2.7%** | **Computers — 2.7%** | **Computers — 2.7%** |
| Accenture Capital Inc., 4.25%, 10/04/31 | &nbsp;&nbsp; 4270 | 4137667 |
| Apple Inc. |  |  |
| 1.65%, 02/08/31 | &nbsp;&nbsp; 8673 | 7363847 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2031 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| 1.70%, 08/05/31<sup>(a)</sup> | &nbsp;&nbsp; $3527 | $2967371 |
| CGI Inc., 2.30%, 09/14/31 | &nbsp;&nbsp; 1586 | 1325929 |
| Fortinet Inc., 2.20%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2083 | 1771357 |
| Hewlett Packard Enterprise Co., 4.85%, 10/15/31 | &nbsp;&nbsp; 3580 | 3509279 |
| HP Inc., 2.65%, 06/17/31 | &nbsp;&nbsp; 4114 | 3550193 |
| IBM International Capital Pte Ltd., 4.75%, <br> 02/05/31<sup>(a)</sup><br>| &nbsp;&nbsp; 2180 | 2177918 |
| Kyndryl Holdings Inc., 3.15%, 10/15/31 | &nbsp;&nbsp; 2713 | 2320777 |
| Leidos Inc., 2.30%, 02/15/31 | &nbsp;&nbsp; 1998 | 1702631 |
|  |  | 30826969 |
| **Cosmetics & Personal Care — 0.7%** | **Cosmetics & Personal Care — 0.7%** | **Cosmetics & Personal Care — 0.7%** |
| Estee Lauder Companies Inc. (The), 1.95%, <br> 03/15/31<br>| &nbsp;&nbsp; 2570 | 2153910 |
| Procter & Gamble Co. (The), 1.95%, 04/23/31<sup>(a)</sup> | &nbsp;&nbsp; 2900 | 2513149 |
| Unilever Capital Corp., 1.75%, 08/12/31<sup>(a)</sup> | &nbsp;&nbsp; 3400 | 2836632 |
|  |  | 7503691 |
| **Diversified Financial Services — 4.4%** | **Diversified Financial Services — 4.4%** | **Diversified Financial Services — 4.4%** |
| Air Lease Corp., 5.20%, 07/15/31 | &nbsp;&nbsp; 2340 | 2329314 |
| Ally Financial Inc. |  |  |
| 8.00%, 11/01/31 | &nbsp;&nbsp; 7572 | 8423708 |
| 8.00%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp; 1970 | 2194238 |
| Blue Owl Finance LLC, 3.13%, 06/10/31 | &nbsp;&nbsp; 50 | 42783 |
| Brookfield Finance Inc., 2.72%, 04/15/31 | &nbsp;&nbsp; 2340 | 2045312 |
| Charles Schwab Corp. (The) |  |  |
| 1.65%, 03/11/31<sup>(a)</sup> | &nbsp;&nbsp; 2994 | 2477665 |
| 1.95%, 12/01/31 | &nbsp;&nbsp; 3408 | 2805953 |
| 2.30%, 05/13/31<sup>(a)</sup> | &nbsp;&nbsp; 3065 | 2633121 |
| Intercontinental Exchange Inc., 5.25%, 06/15/31 | &nbsp;&nbsp; 3365 | 3433106 |
| Jefferies Financial Group Inc., 2.63%, 10/15/31 | &nbsp;&nbsp; 4118 | 3488893 |
| Lazard Group LLC, 6.00%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1875 | 1951540 |
| Mastercard Inc. |  |  |
| 1.90%, 03/15/31 | &nbsp;&nbsp; 2318 | 1980912 |
| 2.00%, 11/18/31 | &nbsp;&nbsp; 3067 | 2580231 |
| Nasdaq Inc., 1.65%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2767 | 2301490 |
| Nomura Holdings Inc., 2.61%, 07/14/31 | &nbsp;&nbsp; 4140 | 3514924 |
| ORIX Corp., 2.25%, 03/09/31 | &nbsp;&nbsp; 1807 | 1524472 |
| Synchrony Financial, 2.88%, 10/28/31 | &nbsp;&nbsp; 2919 | 2433761 |
| Visa Inc., 1.10%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3704 | 3024426 |
| Western Union Co. (The), 2.75%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1379 | 1178290 |
|  |  | 50364139 |
| **Electric — 8.2%** | **Electric — 8.2%** | **Electric — 8.2%** |
| AES Corp. (The), 2.45%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3929 | 3307440 |
| Ameren Corp., 3.50%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3025 | 2791909 |
| Appalachian Power Co., Series AA, 2.70%, <br> 04/01/31<br>| &nbsp;&nbsp; 1887 | 1643957 |
| Arizona Public Service Co., 2.20%, 12/15/31 | &nbsp;&nbsp; 1770 | 1463951 |
| Atlantic City Electric Co., 2.30%, 03/15/31 | &nbsp;&nbsp; 1438 | 1233469 |
| Baltimore Gas & Electric Co., 2.25%, 06/15/31 | &nbsp;&nbsp; 2312 | 1980085 |
| Berkshire Hathaway Energy Co., 1.65%, 05/15/31 | &nbsp;&nbsp; 1869 | 1543216 |
| CenterPoint Energy Houston Electric LLC, <br> Series AE, 2.35%, 04/01/31<br>| &nbsp;&nbsp; 1703 | 1463687 |
| CenterPoint Energy Inc., 2.65%, 06/01/31 | &nbsp;&nbsp; 1774 | 1537607 |
| Connecticut Light and Power Co. (The), Series A, <br> 2.05%, 07/01/31<br>| &nbsp;&nbsp; 1539 | 1295180 |
| Consolidated Edison Co. of New York Inc., 2.40%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 3579 | 3108046 |
| Dominion Energy Inc., Series C, 2.25%, 08/15/31 | &nbsp;&nbsp; 3312 | 2787312 |
| Dominion Energy South Carolina Inc., Series A, <br> 2.30%, 12/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 1454 | 1223691 |
| DTE Electric Co., Series C, 2.63%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 2390 | 2115051 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Duke Energy Carolinas LLC, 2.55%, 04/15/31 | &nbsp;&nbsp; $2097 | $1830355 |
| Duke Energy Corp., 2.55%, 06/15/31 | &nbsp;&nbsp; 3791 | 3258907 |
| Duke Energy Florida LLC, 2.40%, 12/15/31 | &nbsp;&nbsp; 2461 | 2093755 |
| Duke Energy Progress LLC, 2.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2423 | 2030195 |
| Emera U.S. Finance LP, 2.64%, 06/15/31 | &nbsp;&nbsp; 1797 | 1525844 |
| Entergy Corp., 2.40%, 06/15/31 | &nbsp;&nbsp; 2533 | 2154875 |
| Entergy Louisiana LLC, 3.05%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 1317 | 1183181 |
| Entergy Texas Inc., 1.75%, 03/15/31 | &nbsp;&nbsp; 2361 | 1961120 |
| Eversource Energy |  |  |
| 2.55%, 03/15/31 | &nbsp;&nbsp; 1376 | 1187016 |
| 5.85%, 04/15/31 | &nbsp;&nbsp; 2815 | 2915906 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| 1.35%, 03/15/31 | &nbsp;&nbsp; 1469 | 1188914 |
| 1.65%, 06/15/31 | &nbsp;&nbsp; 1150 | 940127 |
| 5.00%, 02/07/31<sup>(a)</sup> | &nbsp;&nbsp; 2000 | 2026075 |
| Northern States Power Co./MN, 2.25%, 04/01/31 | &nbsp;&nbsp; 1355 | 1165618 |
| NSTAR Electric Co., 1.95%, 08/15/31 | &nbsp;&nbsp; 884 | 741155 |
| Ohio Power Co., Series Q, 1.63%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1795 | 1476271 |
| Pacific Gas and Electric Co. |  |  |
| 2.50%, 02/01/31 | &nbsp;&nbsp; 7606 | 6523549 |
| 3.25%, 06/01/31 | &nbsp;&nbsp; 3815 | 3402878 |
| PacifiCorp |  |  |
| 5.30%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2870 | 2909396 |
| 7.70%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1081 | 1241035 |
| Progress Energy Inc. |  |  |
| 7.00%, 10/30/31<sup>(a)</sup> | &nbsp;&nbsp; 1507 | 1675995 |
| 7.75%, 03/01/31 | &nbsp;&nbsp; 2482 | 2836409 |
| Public Service Co. of Colorado |  |  |
| 1.88%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3143 | 2619054 |
| Series 35, 1.90%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1430 | 1207811 |
| Public Service Co. of New Hampshire, Series V, <br> 2.20%, 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 1276 | 1082948 |
| Public Service Co. of Oklahoma, Series J, 2.20%, <br> 08/15/31<br>| &nbsp;&nbsp; 1594 | 1326280 |
| Public Service Electric & Gas Co., 1.90%, <br> 08/15/31<br>| &nbsp;&nbsp; 1815 | 1507831 |
| Public Service Enterprise Group Inc., 2.45%, <br> 11/15/31<br>| &nbsp;&nbsp; 2934 | 2498400 |
| Southern California Edison Co. |  |  |
| 5.45%, 06/01/31 | &nbsp;&nbsp; 3095 | 3170473 |
| Series G, 2.50%, 06/01/31 | &nbsp;&nbsp; 1648 | 1432541 |
| Tampa Electric Co., 2.40%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1445 | 1239479 |
| Virginia Electric & Power Co., 2.30%, 11/15/31 | &nbsp;&nbsp; 1827 | 1545538 |
| Wisconsin Power and Light Co., 1.95%, 09/16/31 | &nbsp;&nbsp; 1270 | 1044201 |
| Xcel Energy Inc., 2.35%, 11/15/31 | &nbsp;&nbsp; 1148 | 954824 |
|  |  | 93392557 |
| **Electronics — 1.6%** | **Electronics — 1.6%** | **Electronics — 1.6%** |
| Amphenol Corp., 2.20%, 09/15/31 | &nbsp;&nbsp; 3336 | 2807432 |
| Avnet Inc., 3.00%, 05/15/31 | &nbsp;&nbsp; 1392 | 1194969 |
| Honeywell International Inc. |  |  |
| 1.75%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp; 5521 | 4579337 |
| 4.95%, 09/01/31 | &nbsp;&nbsp; 2125 | 2159718 |
| Hubbell Inc., 2.30%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1147 | 980941 |
| Jabil Inc., 3.00%, 01/15/31 | &nbsp;&nbsp; 2487 | 2191107 |
| TD SYNNEX Corp., 2.65%, 08/09/31 | &nbsp;&nbsp; 2100 | 1765049 |
| Vontier Corp., 2.95%, 04/01/31 | &nbsp;&nbsp; 2480 | 2129428 |
|  |  | 17807981 |
| **Environmental Control — 0.7%** | **Environmental Control — 0.7%** | **Environmental Control — 0.7%** |
| Republic Services Inc., 1.45%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2455 | 2008099 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2031 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control (continued)** | **Environmental Control (continued)** | **Environmental Control (continued)** |
| Waste Management Inc. |  |  |
| 1.50%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; $4033 | $3327920 |
| 4.95%, 07/03/31 | &nbsp;&nbsp; 2175 | 2194954 |
|  |  | 7530973 |
| **Food — 2.3%** | **Food — 2.3%** | **Food — 2.3%** |
| Flowers Foods Inc., 2.40%, 03/15/31 | &nbsp;&nbsp; 1979 | 1687368 |
| General Mills Inc., 2.25%, 10/14/31<sup>(a)</sup> | &nbsp;&nbsp; 1896 | 1601949 |
| JBS USA Holding Lux SARL/JBS USA Food <br> Co./JBS Lux Co. SARL, 3.75%, 12/01/31<br>| &nbsp;&nbsp; 2029 | 1812001 |
| Kellanova, Series B, 7.45%, 04/01/31 | &nbsp;&nbsp; 2568 | 2902656 |
| Kraft Heinz Foods Co., 4.25%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp; 1599 | 1549882 |
| Kroger Co. (The) |  |  |
| 1.70%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2075 | 1719113 |
| 4.90%, 09/15/31 | &nbsp;&nbsp; 4710 | 4698457 |
| 7.50%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; 1526 | 1735841 |
| McCormick & Co. Inc./MD, 1.85%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2004 | 1674762 |
| Mondelez International Inc., 1.50%, 02/04/31<sup>(a)</sup> | &nbsp;&nbsp; 1894 | 1561980 |
| Pilgrim's Pride Corp., 4.25%, 04/15/31 | &nbsp;&nbsp; 3723 | 3457981 |
| Sysco Corp., 2.45%, 12/14/31 | &nbsp;&nbsp; 1789 | 1519749 |
|  |  | 25921739 |
| **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** |
| Georgia-Pacific LLC, 8.88%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1626 | 1993337 |
| Suzano Austria GmbH, 3.75%, 01/15/31 | &nbsp;&nbsp; 4676 | 4168698 |
|  |  | 6162035 |
| **Gas — 0.8%** | **Gas — 0.8%** | **Gas — 0.8%** |
| Atmos Energy Corp., 1.50%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2316 | 1919331 |
| National Fuel Gas Co., 2.95%, 03/01/31 | &nbsp;&nbsp; 2019 | 1747463 |
| NiSource Inc., 1.70%, 02/15/31 | &nbsp;&nbsp; 2884 | 2379336 |
| Piedmont Natural Gas Co. Inc., 2.50%, 03/15/31 | &nbsp;&nbsp; 1295 | 1113658 |
| Southern Co. Gas Capital Corp., Series 2020-A, <br> 1.75%, 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 2034 | 1683573 |
|  |  | 8843361 |
| **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** |
| Kennametal Inc., 2.80%, 03/01/31 | &nbsp;&nbsp; 1077 | 934172 |
| **Health Care - Products — 1.8%** | **Health Care - Products — 1.8%** | **Health Care - Products — 1.8%** |
| Agilent Technologies Inc., 2.30%, 03/12/31<sup>(a)</sup> | &nbsp;&nbsp; 3512 | 3011981 |
| Baxter International Inc., 1.73%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; 2720 | 2230067 |
| Revvity Inc. |  |  |
| 2.25%, 09/15/31 | &nbsp;&nbsp; 1852 | 1537321 |
| 2.55%, 03/15/31 | &nbsp;&nbsp; 1530 | 1304148 |
| Solventum Corp., 5.45%, 03/13/31<sup>(b)</sup> | &nbsp;&nbsp; 3690 | 3720181 |
| STERIS Irish FinCo Unlimited Co., 2.70%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 2788 | 2418123 |
| Thermo Fisher Scientific Inc., 2.00%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 4855 | 4090606 |
| Zimmer Biomet Holdings Inc., 2.60%, 11/24/31<sup>(a)</sup> | &nbsp;&nbsp; 2972 | 2548964 |
|  |  | 20861391 |
| **Health Care - Services — 5.0%** | **Health Care - Services — 5.0%** | **Health Care - Services — 5.0%** |
| Banner Health, 1.90%, 01/01/31<sup>(a)</sup> | &nbsp;&nbsp; 1375 | 1167828 |
| Bon Secours Mercy Health Inc., Series 20-2, <br> 2.10%, 06/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 1112 | 937611 |
| Cedars-Sinai Health System, Series 2021, 2.29%, <br> 08/15/31<br>| &nbsp;&nbsp; 1389 | 1185536 |
| Centene Corp. |  |  |
| 2.50%, 03/01/31 | &nbsp;&nbsp; 8204 | 6861902 |
| 2.63%, 08/01/31 | &nbsp;&nbsp; 4770 | 3967930 |
| Cigna Group (The) |  |  |
| 2.38%, 03/15/31 | &nbsp;&nbsp; 5763 | 4926207 |
| 5.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2955 | 2969842 |
| CommonSpirit Health, 5.21%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 2295 | 2308001 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Elevance Health Inc. |  |  |
| 2.55%, 03/15/31 | &nbsp;&nbsp; $3741 | $3240836 |
| 4.95%, 11/01/31 | &nbsp;&nbsp; 3900 | 3872046 |
| HCA Inc. |  |  |
| 2.38%, 07/15/31 | &nbsp;&nbsp; 3480 | 2924115 |
| 5.45%, 04/01/31 | &nbsp;&nbsp; 6015 | 6081543 |
| Humana Inc., 5.38%, 04/15/31 | &nbsp;&nbsp; 4139 | 4140710 |
| Laboratory Corp. of America Holdings, 2.70%, <br> 06/01/31<br>| &nbsp;&nbsp; 1966 | 1708138 |
| OhioHealth Corp., 2.30%, 11/15/31 | &nbsp;&nbsp; 1134 | 950624 |
| Quest Diagnostics Inc., 2.80%, 06/30/31 | &nbsp;&nbsp; 2183 | 1915250 |
| UnitedHealth Group Inc. |  |  |
| 2.30%, 05/15/31 | &nbsp;&nbsp; 5488 | 4726329 |
| 4.90%, 04/15/31 | &nbsp;&nbsp; 3625 | 3643764 |
|  |  | 57528212 |
| **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** | **Holding Companies - Diversified — 0.8%** |
| Apollo Debt Solutions BDC, 6.70%, 07/29/31<sup>(a)(b)</sup> | &nbsp;&nbsp; 2090 | 2117586 |
| Ares Capital Corp., 3.20%, 11/15/31 | &nbsp;&nbsp; 2833 | 2407075 |
| Blackstone Private Credit Fund, 6.25%, <br> 01/25/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1785 | 1804440 |
| Blue Owl Credit Income Corp., 6.65%, 03/15/31 | &nbsp;&nbsp; 2895 | 2913967 |
|  |  | 9243068 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| MDC Holdings Inc., 2.50%, 01/15/31 | &nbsp;&nbsp; 1238 | 1084478 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Whirlpool Corp., 2.40%, 05/15/31 | &nbsp;&nbsp; 1400 | 1167737 |
| **Household Products & Wares — 0.3%** | **Household Products & Wares — 0.3%** | **Household Products & Wares — 0.3%** |
| Church & Dwight Co. Inc., 2.30%, 12/15/31 | &nbsp;&nbsp; 1548 | 1309582 |
| Kimberly-Clark Corp., 2.00%, 11/02/31<sup>(a)</sup> | &nbsp;&nbsp; 2228 | 1889628 |
|  |  | 3199210 |
| **Insurance — 2.9%** | **Insurance — 2.9%** | **Insurance — 2.9%** |
| Aon Corp./Aon Global Holdings PLC |  |  |
| 2.05%, 08/23/31 | &nbsp;&nbsp; 1637 | 1367226 |
| 2.60%, 12/02/31 | &nbsp;&nbsp; 1942 | 1667813 |
| Aon North America Inc., 5.30%, 03/01/31 | &nbsp;&nbsp; 2345 | 2387219 |
| Arthur J Gallagher & Co., 2.40%, 11/09/31 | &nbsp;&nbsp; 1683 | 1416424 |
| Assured Guaranty U.S. Holdings Inc., 3.15%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp; 2169 | 1927645 |
| Athene Holding Ltd., 3.50%, 01/15/31 | &nbsp;&nbsp; 2204 | 2000536 |
| Brown & Brown Inc., 2.38%, 03/15/31 | &nbsp;&nbsp; 2885 | 2449071 |
| Enstar Group Ltd., 3.10%, 09/01/31 | &nbsp;&nbsp; 2067 | 1748616 |
| Fairfax Financial Holdings Ltd., 3.38%, 03/03/31 | &nbsp;&nbsp; 2369 | 2124923 |
| Fidelity National Financial Inc., 2.45%, 03/15/31 | &nbsp;&nbsp; 2502 | 2136696 |
| First American Financial Corp., 2.40%, 08/15/31 | &nbsp;&nbsp; 2296 | 1877913 |
| Jackson Financial Inc., 3.13%, 11/23/31<sup>(a)</sup> | &nbsp;&nbsp; 2101 | 1798928 |
| Lincoln National Corp., 3.40%, 01/15/31 | &nbsp;&nbsp; 1267 | 1146595 |
| Marsh & McLennan Companies Inc. |  |  |
| 2.38%, 12/15/31 | &nbsp;&nbsp; 1528 | 1304074 |
| 4.85%, 11/15/31 | &nbsp;&nbsp; 4075 | 4064543 |
| Primerica Inc., 2.80%, 11/19/31 | &nbsp;&nbsp; 2454 | 2086456 |
| Stewart Information Services Corp., 3.60%, <br> 11/15/31<br>| &nbsp;&nbsp; 1693 | 1460231 |
|  |  | 32964909 |
| **Internet — 2.2%** | **Internet — 2.2%** | **Internet — 2.2%** |
| Alibaba Group Holding Ltd., 2.13%, 02/09/31<sup>(a)</sup> | &nbsp;&nbsp; 4800 | 4103608 |
| Amazon.com Inc., 2.10%, 05/12/31 | &nbsp;&nbsp; 10800 | 9282180 |
| Baidu Inc., 2.38%, 08/23/31<sup>(a)</sup> | &nbsp;&nbsp; 1115 | 955483 |
| eBay Inc., 2.60%, 05/10/31<sup>(a)</sup> | &nbsp;&nbsp; 3119 | 2713114 |
| Expedia Group Inc., 2.95%, 03/15/31 | &nbsp;&nbsp; 1911 | 1700163 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2031 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| Meta Platforms Inc., 4.55%, 08/15/31 | &nbsp;&nbsp; $3770 | $3741136 |
| VeriSign Inc., 2.70%, 06/15/31 | &nbsp;&nbsp; 3144 | 2692252 |
|  |  | 25187936 |
| **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** |
| Steel Dynamics Inc., 3.25%, 01/15/31 | &nbsp;&nbsp; 2078 | 1894970 |
| **Leisure Time — 0.2%** | **Leisure Time — 0.2%** | **Leisure Time — 0.2%** |
| Brunswick Corp., 2.40%, 08/18/31<sup>(a)</sup> | &nbsp;&nbsp; 2316 | 1905946 |
| **Lodging — 0.6%** | **Lodging — 0.6%** | **Lodging — 0.6%** |
| Choice Hotels International Inc., 3.70%, 01/15/31 | &nbsp;&nbsp; 1980 | 1785836 |
| Marriott International Inc./MD, Series HH, 2.85%, <br> 04/15/31<br>| &nbsp;&nbsp; 4099 | 3603882 |
| Sands China Ltd., 3.25%, 08/08/31<sup>(a)</sup> | &nbsp;&nbsp; 2420 | 2095868 |
|  |  | 7485586 |
| **Machinery — 1.7%** | **Machinery — 1.7%** | **Machinery — 1.7%** |
| Caterpillar Inc., 1.90%, 03/12/31<sup>(a)</sup> | &nbsp;&nbsp; 1532 | 1316625 |
| Deere & Co., 7.13%, 03/03/31 | &nbsp;&nbsp; 755 | 859318 |
| IDEX Corp., 2.63%, 06/15/31 | &nbsp;&nbsp; 2248 | 1942966 |
| Ingersoll Rand Inc., 5.31%, 06/15/31 | &nbsp;&nbsp; 1345 | 1370706 |
| John Deere Capital Corp. |  |  |
| 1.45%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2333 | 1943233 |
| 2.00%, 06/17/31 | &nbsp;&nbsp; 2192 | 1859047 |
| 4.40%, 09/08/31<sup>(a)</sup> | &nbsp;&nbsp; 3565 | 3480161 |
| 4.90%, 03/07/31 | &nbsp;&nbsp; 2955 | 2971657 |
| nVent Finance SARL, 2.75%, 11/15/31 | &nbsp;&nbsp; 965 | 817621 |
| Rockwell Automation Inc., 1.75%, 08/15/31 | &nbsp;&nbsp; 1665 | 1377694 |
| Xylem Inc./New York, 2.25%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp; 1992 | 1721092 |
|  |  | 19660120 |
| **Manufacturing — 0.5%** | **Manufacturing — 0.5%** | **Manufacturing — 0.5%** |
| Teledyne Technologies Inc., 2.75%, 04/01/31 | &nbsp;&nbsp; 4379 | 3868837 |
| Textron Inc., 2.45%, 03/15/31 | &nbsp;&nbsp; 2263 | 1927524 |
|  |  | 5796361 |
| **Media — 2.5%** | **Media — 2.5%** | **Media — 2.5%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital, 2.80%, <br> 04/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 6285 | 5282878 |
| Comcast Corp. |  |  |
| 1.50%, 02/15/31 | &nbsp;&nbsp; 6883 | 5644777 |
| 1.95%, 01/15/31 | &nbsp;&nbsp; 5958 | 5040481 |
| Paramount Global, 4.95%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3826 | 3553077 |
| Walt Disney Co. (The), 2.65%, 01/13/31<sup>(a)</sup> | &nbsp;&nbsp; 9828 | 8735898 |
|  |  | 28257111 |
| **Mining — 0.3%** | **Mining — 0.3%** | **Mining — 0.3%** |
| Rio Tinto Alcan Inc., 7.25%, 03/15/31 | &nbsp;&nbsp; 1497 | 1682438 |
| Yamana Gold Inc., 2.63%, 08/15/31 | &nbsp;&nbsp; 1965 | 1669840 |
|  |  | 3352278 |
| **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** |
| CDW LLC/CDW Finance Corp., 3.57%, 12/01/31 | &nbsp;&nbsp; 3759 | 3368286 |
| **Oil & Gas — 3.4%** | **Oil & Gas — 3.4%** | **Oil & Gas — 3.4%** |
| Burlington Resources LLC |  |  |
| 7.20%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1662 | 1873162 |
| 7.40%, 12/01/31 | &nbsp;&nbsp; 1468 | 1670530 |
| Conoco Funding Co., 7.25%, 10/15/31 | &nbsp;&nbsp; 1503 | 1697433 |
| Devon Energy Corp., 7.88%, 09/30/31 | &nbsp;&nbsp; 2575 | 2928559 |
| Diamondback Energy Inc., 3.13%, 03/24/31 | &nbsp;&nbsp; 3303 | 2942201 |
| Helmerich & Payne Inc., 2.90%, 09/29/31 | &nbsp;&nbsp; 2303 | 1932482 |
| Hess Corp., 7.30%, 08/15/31 | &nbsp;&nbsp; 2564 | 2869567 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Occidental Petroleum Corp. |  |  |
| 6.13%, 01/01/31 | &nbsp;&nbsp; $4502 | $4638820 |
| 7.50%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp; 3220 | 3563508 |
| 7.88%, 09/15/31 | &nbsp;&nbsp; 1981 | 2220263 |
| Ovintiv Inc. |  |  |
| 7.20%, 11/01/31 | &nbsp;&nbsp; 1410 | 1531755 |
| 7.38%, 11/01/31 | &nbsp;&nbsp; 1964 | 2153929 |
| Phillips 66 Co., 5.25%, 06/15/31 | &nbsp;&nbsp; 4480 | 4518913 |
| Pioneer Natural Resources Co., 2.15%, 01/15/31 | &nbsp;&nbsp; 3654 | 3132649 |
| Valero Energy Corp., 2.80%, 12/01/31 | &nbsp;&nbsp; 2016 | 1733785 |
|  |  | 39407556 |
| **Packaging & Containers — 0.6%** | **Packaging & Containers — 0.6%** | **Packaging & Containers — 0.6%** |
| Amcor Flexibles North America Inc., 2.69%, <br> 05/25/31<sup>(a)</sup><br>| &nbsp;&nbsp; 3415 | 2956635 |
| Berry Global Inc., 5.80%, 06/15/31<sup>(b)</sup> | &nbsp;&nbsp; 2800 | 2829611 |
| WestRock MWV LLC, 7.95%, 02/15/31 | &nbsp;&nbsp; 1163 | 1330753 |
|  |  | 7116999 |
| **Pharmaceuticals — 5.1%** | **Pharmaceuticals — 5.1%** | **Pharmaceuticals — 5.1%** |
| AbbVie Inc., 4.95%, 03/15/31 | &nbsp;&nbsp; 7060 | 7129068 |
| Astrazeneca Finance LLC |  |  |
| 2.25%, 05/28/31 | &nbsp;&nbsp; 2810 | 2423854 |
| 4.90%, 02/26/31 | &nbsp;&nbsp; 3810 | 3847247 |
| Becton Dickinson & Co., 1.96%, 02/11/31 | &nbsp;&nbsp; 3936 | 3302174 |
| Bristol-Myers Squibb Co. |  |  |
| 5.10%, 02/22/31 | &nbsp;&nbsp; 4495 | 4572924 |
| 5.75%, 02/01/31 | &nbsp;&nbsp; 3514 | 3689757 |
| Cencora Inc., 2.70%, 03/15/31 | &nbsp;&nbsp; 4087 | 3574121 |
| CVS Health Corp. |  |  |
| 1.88%, 02/28/31 | &nbsp;&nbsp; 4649 | 3777292 |
| 2.13%, 09/15/31 | &nbsp;&nbsp; 3948 | 3198527 |
| 5.25%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp; 2750 | 2728898 |
| 5.55%, 06/01/31 | &nbsp;&nbsp; 3700 | 3729720 |
| Johnson & Johnson, 4.90%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp; 3830 | 3893564 |
| Merck & Co. Inc., 2.15%, 12/10/31 | &nbsp;&nbsp; 7419 | 6294469 |
| Novartis Capital Corp., 4.00%, 09/18/31 | &nbsp;&nbsp; 3015 | 2893857 |
| Pfizer Inc., 1.75%, 08/18/31<sup>(a)</sup> | &nbsp;&nbsp; 4173 | 3471337 |
|  |  | 58526809 |
| **Pipelines — 2.5%** | **Pipelines — 2.5%** | **Pipelines — 2.5%** |
| Boardwalk Pipelines LP, 3.40%, 02/15/31 | &nbsp;&nbsp; 1879 | 1688986 |
| Cheniere Energy Partners LP, 4.00%, 03/01/31 | &nbsp;&nbsp; 6004 | 5553170 |
| Kinder Morgan Energy Partners LP, 7.40%, <br> 03/15/31<br>| &nbsp;&nbsp; 1127 | 1246777 |
| Kinder Morgan Inc. |  |  |
| 2.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2980 | 2509521 |
| 7.80%, 08/01/31 | &nbsp;&nbsp; 2042 | 2329847 |
| ONEOK Inc. |  |  |
| 4.75%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2940 | 2872692 |
| 6.35%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2501 | 2650349 |
| Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp., 4.88%, 02/01/31<br>| &nbsp;&nbsp; 3756 | 3649684 |
| Williams Companies Inc. (The) |  |  |
| 2.60%, 03/15/31 | &nbsp;&nbsp; 5661 | 4902088 |
| Series A, 7.50%, 01/15/31 | &nbsp;&nbsp; 1290 | 1435149 |
|  |  | 28838263 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| CBRE Services Inc., 2.50%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; 2154 | 1849117 |
| **Real Estate Investment Trusts — 9.4%** | **Real Estate Investment Trusts — 9.4%** | **Real Estate Investment Trusts — 9.4%** |
| Alexandria Real Estate Equities Inc., 3.38%, <br> 08/15/31<br>| &nbsp;&nbsp; 2947 | 2672897 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2031 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| American Assets Trust LP, 3.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; $1956 | $1692473 |
| American Homes 4 Rent LP, 2.38%, 07/15/31 | &nbsp;&nbsp; 1636 | 1377192 |
| American Tower Corp. |  |  |
| 2.30%, 09/15/31 | &nbsp;&nbsp; 2890 | 2422001 |
| 2.70%, 04/15/31 | &nbsp;&nbsp; 2880 | 2505569 |
| AvalonBay Communities Inc., 2.45%, 01/15/31 | &nbsp;&nbsp; 2176 | 1901700 |
| Boston Properties LP, 3.25%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp; 4674 | 4117156 |
| Brixmor Operating Partnership LP, 2.50%, <br> 08/16/31<br>| &nbsp;&nbsp; 1912 | 1617748 |
| Broadstone Net Lease LLC, 2.60%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1350 | 1120322 |
| COPT Defense Properties LP, 2.75%, 04/15/31 | &nbsp;&nbsp; 2515 | 2148150 |
| Crown Castle Inc. |  |  |
| 2.10%, 04/01/31 | &nbsp;&nbsp; 3880 | 3230534 |
| 2.25%, 01/15/31 | &nbsp;&nbsp; 4332 | 3661948 |
| 2.50%, 07/15/31 | &nbsp;&nbsp; 2972 | 2515474 |
| CubeSmart LP, 2.00%, 02/15/31 | &nbsp;&nbsp; 1440 | 1201010 |
| DOC DR LLC, 2.63%, 11/01/31 | &nbsp;&nbsp; 1806 | 1547234 |
| EPR Properties, 3.60%, 11/15/31 | &nbsp;&nbsp; 1176 | 1033405 |
| Equinix Inc., 2.50%, 05/15/31 | &nbsp;&nbsp; 3945 | 3397043 |
| ERP Operating LP, 1.85%, 08/01/31 | &nbsp;&nbsp; 1928 | 1600691 |
| Essential Properties LP, 2.95%, 07/15/31 | &nbsp;&nbsp; 1757 | 1494267 |
| Essex Portfolio LP |  |  |
| 1.65%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1137 | 929446 |
| 2.55%, 06/15/31 | &nbsp;&nbsp; 1130 | 966466 |
| Extra Space Storage LP |  |  |
| 2.40%, 10/15/31 | &nbsp;&nbsp; 2287 | 1913202 |
| 2.55%, 06/01/31 | &nbsp;&nbsp; 1793 | 1527810 |
| 5.90%, 01/15/31 | &nbsp;&nbsp; 2310 | 2393521 |
| GLP Capital LP/GLP Financing II Inc., 4.00%, <br> 01/15/31<br>| &nbsp;&nbsp; 2796 | 2565248 |
| Healthcare Realty Holdings LP, 2.00%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3097 | 2543292 |
| Healthpeak OP LLC, 2.88%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2388 | 2130403 |
| Highwoods Realty LP, 2.60%, 02/01/31 | &nbsp;&nbsp; 1111 | 927110 |
| Host Hotels & Resorts LP, Series J, 2.90%, <br> 12/15/31<br>| &nbsp;&nbsp; 1894 | 1614074 |
| Invitation Homes Operating Partnership LP, 2.00%, <br> 08/15/31<br>| &nbsp;&nbsp; 2775 | 2273714 |
| Kimco Realty OP LLC, 2.25%, 12/01/31 | &nbsp;&nbsp; 1742 | 1457819 |
| Kite Realty Group LP, 4.95%, 12/15/31 | &nbsp;&nbsp; 640 | 627882 |
| LXP Industrial Trust, 2.38%, 10/01/31 | &nbsp;&nbsp; 1535 | 1248489 |
| Mid-America Apartments LP, 1.70%, 02/15/31 | &nbsp;&nbsp; 1933 | 1605970 |
| National Health Investors Inc., 3.00%, 02/01/31 | &nbsp;&nbsp; 1731 | 1485301 |
| Omega Healthcare Investors Inc., 3.38%, 02/01/31 | &nbsp;&nbsp; 2808 | 2498532 |
| Phillips Edison Grocery Center Operating <br> Partnership I LP, 2.63%, 11/15/31<br>| &nbsp;&nbsp; 1370 | 1149534 |
| Prologis LP |  |  |
| 1.63%, 03/15/31 | &nbsp;&nbsp; 1530 | 1256403 |
| 1.75%, 02/01/31 | &nbsp;&nbsp; 1806 | 1512485 |
| Public Storage Operating Co. |  |  |
| 2.25%, 11/09/31 | &nbsp;&nbsp; 2183 | 1848770 |
| 2.30%, 05/01/31 | &nbsp;&nbsp; 2467 | 2133351 |
| Rayonier LP, 2.75%, 05/17/31 | &nbsp;&nbsp; 1727 | 1482030 |
| Realty Income Corp. |  |  |
| 3.20%, 02/15/31 | &nbsp;&nbsp; 1780 | 1609429 |
| 3.25%, 01/15/31 | &nbsp;&nbsp; 3715 | 3383896 |
| Rexford Industrial Realty LP, 2.15%, 09/01/31 | &nbsp;&nbsp; 1587 | 1309936 |
| Sabra Health Care LP, 3.20%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp; 3126 | 2696026 |
| Safehold GL Holdings LLC, 2.80%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1375 | 1179099 |
| Simon Property Group LP, 2.20%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp; 2945 | 2523334 |
| Store Capital LLC, 2.70%, 12/01/31 | &nbsp;&nbsp; 1543 | 1270774 |
| Sun Communities Operating LP, 2.70%, 07/15/31 | &nbsp;&nbsp; 2678 | 2278855 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Tanger Properties LP, 2.75%, 09/01/31 | &nbsp;&nbsp; $1762 | $1482208 |
| UDR Inc., 3.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2461 | 2183264 |
| Ventas Realty LP, 2.50%, 09/01/31 | &nbsp;&nbsp; 2060 | 1749212 |
| Welltower OP LLC |  |  |
| 2.75%, 01/15/31 | &nbsp;&nbsp; 2341 | 2069570 |
| 2.80%, 06/01/31 | &nbsp;&nbsp; 2715 | 2391464 |
| WP Carey Inc., 2.40%, 02/01/31 | &nbsp;&nbsp; 2010 | 1716960 |
|  |  | 107191693 |
| **Retail — 2.6%** | **Retail — 2.6%** | **Retail — 2.6%** |
| AutoNation Inc., 2.40%, 08/01/31 | &nbsp;&nbsp; 1805 | 1493161 |
| AutoZone Inc., 1.65%, 01/15/31 | &nbsp;&nbsp; 2474 | 2044426 |
| Dollar Tree Inc., 2.65%, 12/01/31 | &nbsp;&nbsp; 3104 | 2597269 |
| Home Depot Inc. (The) |  |  |
| 1.38%, 03/15/31 | &nbsp;&nbsp; 4714 | 3853450 |
| 1.88%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp; 3789 | 3163410 |
| 4.85%, 06/25/31<sup>(a)</sup> | &nbsp;&nbsp; 3795 | 3813750 |
| Lowe's Companies Inc., 2.63%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp; 5776 | 5060253 |
| O'Reilly Automotive Inc., 1.75%, 03/15/31 | &nbsp;&nbsp; 2258 | 1864317 |
| Ross Stores Inc., 1.88%, 04/15/31 | &nbsp;&nbsp; 2167 | 1807001 |
| Starbucks Corp., 4.90%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1984 | 1994271 |
| TJX Companies Inc. (The), 1.60%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 2220 | 1833626 |
|  |  | 29524934 |
| **Semiconductors — 4.0%** | **Semiconductors — 4.0%** | **Semiconductors — 4.0%** |
| Analog Devices Inc., 2.10%, 10/01/31 | &nbsp;&nbsp; 3941 | 3335288 |
| Broadcom Inc. |  |  |
| 2.45%, 02/15/31<sup>(b)</sup> | &nbsp;&nbsp; 10377 | 8958287 |
| 5.15%, 11/15/31 | &nbsp;&nbsp; 5749 | 5787865 |
| Intel Corp. |  |  |
| 2.00%, 08/12/31 | &nbsp;&nbsp; 4911 | 3986174 |
| 5.00%, 02/21/31 | &nbsp;&nbsp; 2050 | 2028341 |
| Marvell Technology Inc., 2.95%, 04/15/31 | &nbsp;&nbsp; 3248 | 2868763 |
| Micron Technology Inc., 5.30%, 01/15/31 | &nbsp;&nbsp; 4120 | 4147317 |
| NVIDIA Corp., 2.00%, 06/15/31 | &nbsp;&nbsp; 4352 | 3734673 |
| NXP BV/NXP Funding LLC/NXP USA Inc., 2.50%, <br> 05/11/31<br>| &nbsp;&nbsp; 3750 | 3203152 |
| Skyworks Solutions Inc., 3.00%, 06/01/31 | &nbsp;&nbsp; 2160 | 1860686 |
| Texas Instruments Inc., 1.90%, 09/15/31 | &nbsp;&nbsp; 2041 | 1724801 |
| TSMC Arizona Corp., 2.50%, 10/25/31 | &nbsp;&nbsp; 4655 | 4032136 |
|  |  | 45667483 |
| **Software — 3.3%** | **Software — 3.3%** | **Software — 3.3%** |
| Autodesk Inc., 2.40%, 12/15/31 | &nbsp;&nbsp; 3900 | 3314819 |
| Broadridge Financial Solutions Inc., 2.60%, <br> 05/01/31<br>| &nbsp;&nbsp; 4086 | 3526482 |
| Electronic Arts Inc., 1.85%, 02/15/31 | &nbsp;&nbsp; 2909 | 2439564 |
| Fidelity National Information Services Inc., 2.25%, <br> 03/01/31<sup>(a)</sup><br>| &nbsp;&nbsp; 2650 | 2272750 |
| Fiserv Inc., 5.35%, 03/15/31 | &nbsp;&nbsp; 2065 | 2109235 |
| Oracle Corp., 2.88%, 03/25/31<sup>(a)</sup> | &nbsp;&nbsp; 12386 | 10974359 |
| Roper Technologies Inc., 1.75%, 02/15/31 | &nbsp;&nbsp; 3958 | 3270990 |
| Salesforce Inc., 1.95%, 07/15/31 | &nbsp;&nbsp; 5770 | 4881813 |
| VMware LLC, 2.20%, 08/15/31 | &nbsp;&nbsp; 5931 | 4943278 |
|  |  | 37733290 |
| **Telecommunications — 6.7%** | **Telecommunications — 6.7%** | **Telecommunications — 6.7%** |
| AT&T Inc., 2.75%, 06/01/31 | &nbsp;&nbsp; 11914 | 10466567 |
| Cisco Systems Inc., 4.95%, 02/26/31 | &nbsp;&nbsp; 9080 | 9200262 |
| Motorola Solutions Inc., 2.75%, 05/24/31 | &nbsp;&nbsp; 3371 | 2945314 |
| Orange SA, 9.00%, 03/01/31 | &nbsp;&nbsp; 9033 | 10919022 |
| T-Mobile USA Inc. |  |  |
| 2.25%, 11/15/31 | &nbsp;&nbsp; 3940 | 3306049 |
| 2.55%, 02/15/31 | &nbsp;&nbsp; 9499 | 8258258 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2031 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| 2.88%, 02/15/31 | &nbsp;&nbsp; $3787 | $3354463 |
| 3.50%, 04/15/31 | &nbsp;&nbsp; 9241 | 8479043 |
| Verizon Communications Inc. |  |  |
| 1.75%, 01/20/31 | &nbsp;&nbsp; 8734 | 7243611 |
| 2.55%, 03/21/31 | &nbsp;&nbsp; 14092 | 12231899 |
|  |  | 76404488 |
| **Transportation — 1.7%** | **Transportation — 1.7%** | **Transportation — 1.7%** |
| Canadian Pacific Railway Co. |  |  |
| 2.45%, 12/02/31<sup>(a)</sup> | &nbsp;&nbsp; 5008 | 4315969 |
| 7.13%, 10/15/31 | &nbsp;&nbsp; 1073 | 1209144 |
| FedEx Corp., 2.40%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 4066 | 3501420 |
| Norfolk Southern Corp., 2.30%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp; 1972 | 1698009 |
| Union Pacific Corp., 2.38%, 05/20/31<sup>(a)</sup> | &nbsp;&nbsp; 3877 | 3379654 |
| Walmart Inc., 1.80%, 09/22/31 | &nbsp;&nbsp; 6644 | 5610687 |
|  |  | 19714883 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| GATX Corp., 1.90%, 06/01/31 | &nbsp;&nbsp; 1869 | 1528471 |
| **Water — 0.3%** | **Water — 0.3%** | **Water — 0.3%** |
| American Water Capital Corp., 2.30%, 06/01/31 | &nbsp;&nbsp; 2040 | 1748229 |
| Essential Utilities Inc., 2.40%, 05/01/31 | &nbsp;&nbsp; 1463 | 1262055 |
|  |  | 3010284 |
| **Total Long-Term Investments — 99.0%** <br>**(Cost: $1,119,188,303)** | **Total Long-Term Investments — 99.0%** <br>**(Cost: $1,119,188,303)** | 1131135718 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 9.8%** | **Money Market Funds — 9.8%** | **Money Market Funds — 9.8%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 111951920 | $112030287 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 620000 | 620000 |
| **Total Short-Term Securities — 9.8%** <br>**(Cost: $112,618,803)** | **Total Short-Term Securities — 9.8%** <br>**(Cost: $112,618,803)** | 112650287 |
| **Total Investments — 108.8%** <br>**(Cost: $1,231,807,106)** | **Total Investments — 108.8%** <br>**(Cost: $1,231,807,106)** | 1243786005 |
| **Liabilities in Excess of Other Assets — (8.8)%** | **Liabilities in Excess of Other Assets — (8.8)%** | (100811394)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1142974611 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $32247597 | $79770501 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(10264)<br>| $22453 | $112030287 | 111951920 | $156702 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 1810000 |  | &nbsp;&nbsp; (1190000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 620000 | 620000 | 138392 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(10264)<br>| $22453 | $112650287 |  | $295094 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2031 Term Corporate ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1131135718 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1131135718 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 112650287 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 112650287 |
|  | &nbsp;&nbsp; $112650287 | &nbsp;&nbsp; $1131135718 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1243786005 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2034 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.2%** | **Advertising — 0.2%** | **Advertising — 0.2%** |
| Omnicom Group Inc., 5.30%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp; $350 | $351059 |
| **Aerospace & Defense — 2.7%** | **Aerospace & Defense — 2.7%** | **Aerospace & Defense — 2.7%** |
| Boeing Co. (The) |  |  |
| 3.60%, 05/01/34 | &nbsp;&nbsp; 502 | 421567 |
| 6.53%, 05/01/34<sup>(b)</sup> | &nbsp;&nbsp; 1485 | 1565537 |
| L3Harris Technologies Inc., 5.35%, 06/01/34 | &nbsp;&nbsp; 452 | 456808 |
| Lockheed Martin Corp. |  |  |
| 4.75%, 02/15/34 | &nbsp;&nbsp; 477 | 470882 |
| 4.80%, 08/15/34 | &nbsp;&nbsp; 397 | 392308 |
| Northrop Grumman Corp., 4.90%, 06/01/34 | &nbsp;&nbsp; 514 | 507823 |
| RTX Corp., 6.10%, 03/15/34 | &nbsp;&nbsp; 916 | 981025 |
|  |  | 4795950 |
| **Agriculture — 1.2%** | **Agriculture — 1.2%** | **Agriculture — 1.2%** |
| BAT Capital Corp., 6.00%, 02/20/34 | &nbsp;&nbsp; 510 | 526997 |
| Bunge Ltd. Finance Corp., 4.65%, 09/17/34 | &nbsp;&nbsp; 490 | 469705 |
| Philip Morris International Inc., 5.25%, 02/13/34 | &nbsp;&nbsp; 1043 | 1046654 |
|  |  | 2043356 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| American Airlines Pass-Through Trust, Series A, <br> Class A, 2.88%, 01/11/36<br>| &nbsp;&nbsp; 384 | 332907 |
| **Auto Manufacturers — 2.6%** | **Auto Manufacturers — 2.6%** | **Auto Manufacturers — 2.6%** |
| American Honda Finance Corp., 4.90%, 01/10/34 | &nbsp;&nbsp; 456 | 449136 |
| Cummins Inc., 5.15%, 02/20/34<sup>(a)</sup> | &nbsp;&nbsp; 452 | 460347 |
| Ford Motor Credit Co. LLC, 6.13%, 03/08/34 | &nbsp;&nbsp; 985 | 975067 |
| General Motors Financial Co. Inc. |  |  |
| 5.45%, 09/06/34<sup>(a)</sup> | &nbsp;&nbsp; 435 | 428172 |
| 5.95%, 04/04/34<sup>(a)</sup> | &nbsp;&nbsp; 739 | 752654 |
| 6.10%, 01/07/34 | &nbsp;&nbsp; 897 | 921425 |
| PACCAR Financial Corp., 5.00%, 03/22/34<sup>(a)</sup> | &nbsp;&nbsp; 218 | 221205 |
| Toyota Motor Credit Corp., 4.80%, 01/05/34 | &nbsp;&nbsp; 475 | 468621 |
|  |  | 4676627 |
| **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** |
| Aptiv PLC/Aptiv Global Financing DAC, 5.15%, <br> 09/13/34<br>| &nbsp;&nbsp; 320 | 303170 |
| BorgWarner Inc., 5.40%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 295 | 292689 |
|  |  | 595859 |
| **Banks — 2.8%** | **Banks — 2.8%** | **Banks — 2.8%** |
| Banco Santander SA, 6.35%, 03/14/34 | &nbsp;&nbsp; 730 | 756720 |
| Bank of Nova Scotia (The), 5.65%, 02/01/34 | &nbsp;&nbsp; 515 | 533013 |
| Citibank NA, 5.57%, 04/30/34 | &nbsp;&nbsp; 1190 | 1226506 |
| Goldman Sachs Capital I, 6.35%, 02/15/34 | &nbsp;&nbsp; 562 | 589022 |
| HSBC Bank USA NA/New York, 5.88%, 11/01/34 | &nbsp;&nbsp; 200 | 208826 |
| Royal Bank of Canada, 5.15%, 02/01/34 | &nbsp;&nbsp; 750 | 754458 |
| Sumitomo Mitsui Financial Group Inc., 5.56%, <br> 07/09/34<br>| &nbsp;&nbsp; 810 | 832811 |
|  |  | 4901356 |
| **Beverages — 1.7%** | **Beverages — 1.7%** | **Beverages — 1.7%** |
| Anheuser-Busch InBev Worldwide Inc., 5.00%, <br> 06/15/34<sup>(a)</sup><br>| &nbsp;&nbsp; 616 | 618832 |
| Coca-Cola Co. (The) |  |  |
| 4.65%, 08/14/34 | &nbsp;&nbsp; 445 | 438485 |
| 5.00%, 05/13/34 | &nbsp;&nbsp; 589 | 597120 |
| Coca-Cola Consolidated Inc., 5.45%, 06/01/34 | &nbsp;&nbsp; 301 | 306066 |
| Keurig Dr Pepper Inc., 5.30%, 03/15/34 | &nbsp;&nbsp; 405 | 409975 |
| PepsiCo Inc., 4.80%, 07/17/34 | &nbsp;&nbsp; 390 | 387949 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| Pepsico Singapore Financing I Pte Ltd., 4.70%, <br> 02/16/34<br>| &nbsp;&nbsp; $288 | $283795 |
|  |  | 3042222 |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |
| Royalty Pharma PLC, 5.40%, 09/02/34 | &nbsp;&nbsp; 298 | 295733 |
| **Building Materials — 1.0%** | **Building Materials — 1.0%** | **Building Materials — 1.0%** |
| Carrier Global Corp., 5.90%, 03/15/34 | &nbsp;&nbsp; 530 | 556989 |
| CRH America Finance Inc., 5.40%, 05/21/34 | &nbsp;&nbsp; 455 | 460770 |
| Owens Corning, 5.70%, 06/15/34 | &nbsp;&nbsp; 477 | 490222 |
| Trane Technologies Financing Ltd., 5.10%, 06/13/34 | &nbsp;&nbsp; 314 | 317615 |
|  |  | 1825596 |
| **Chemicals — 2.0%** | **Chemicals — 2.0%** | **Chemicals — 2.0%** |
| Air Products and Chemicals Inc., 4.85%, 02/08/34<sup>(a)</sup> | &nbsp;&nbsp; 687 | 682196 |
| CF Industries Inc., 5.15%, 03/15/34 | &nbsp;&nbsp; 448 | 438963 |
| Dow Chemical Co. (The) |  |  |
| 4.25%, 10/01/34 | &nbsp;&nbsp; 309 | 287580 |
| 5.15%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 334 | 332387 |
| Eastman Chemical Co., 5.63%, 02/20/34 | &nbsp;&nbsp; 461 | 465570 |
| Huntsman International LLC, 5.70%, 10/15/34 | &nbsp;&nbsp; 210 | 203869 |
| Lubrizol Corp. (The), 6.50%, 10/01/34<sup>(a)</sup> | &nbsp;&nbsp; 195 | 220638 |
| LYB International Finance III LLC, 5.50%, 03/01/34 | &nbsp;&nbsp; 454 | 456147 |
| Nutrien Ltd., 5.40%, 06/21/34<sup>(a)</sup> | &nbsp;&nbsp; 359 | 360722 |
|  |  | 3448072 |
| **Commercial Services — 1.5%** | **Commercial Services — 1.5%** | **Commercial Services — 1.5%** |
| Automatic Data Processing Inc., 4.45%, 09/09/34 | &nbsp;&nbsp; 585 | 565911 |
| Cornell University, 4.84%, 06/15/34 | &nbsp;&nbsp; 288 | 287713 |
| GXO Logistics Inc., 6.50%, 05/06/34 | &nbsp;&nbsp; 308 | 320120 |
| Moody's Corp., 5.00%, 08/05/34<sup>(a)</sup> | &nbsp;&nbsp; 291 | 289196 |
| PayPal Holdings Inc., 5.15%, 06/01/34 | &nbsp;&nbsp; 499 | 502758 |
| Quanta Services Inc., 5.25%, 08/09/34 | &nbsp;&nbsp; 390 | 386432 |
| Verisk Analytics Inc., 5.25%, 06/05/34 | &nbsp;&nbsp; 350 | 350645 |
|  |  | 2702775 |
| **Computers — 1.9%** | **Computers — 1.9%** | **Computers — 1.9%** |
| Accenture Capital Inc., 4.50%, 10/04/34 | &nbsp;&nbsp; 865 | 836089 |
| Dell International LLC/EMC Corp., 5.40%, 04/15/34 | &nbsp;&nbsp; 589 | 595751 |
| Hewlett Packard Enterprise Co., 5.00%, 10/15/34 | &nbsp;&nbsp; 1181 | 1145389 |
| IBM International Capital Pte Ltd., 4.90%, 02/05/34 | &nbsp;&nbsp; 565 | 557384 |
| Kyndryl Holdings Inc., 6.35%, 02/20/34 | &nbsp;&nbsp; 288 | 298252 |
|  |  | 3432865 |
| **Cosmetics & Personal Care — 1.0%** | **Cosmetics & Personal Care — 1.0%** | **Cosmetics & Personal Care — 1.0%** |
| Estee Lauder Companies Inc. (The), 5.00%, <br> 02/14/34<sup>(a)</sup><br>| &nbsp;&nbsp; 395 | 391952 |
| Procter & Gamble Co. (The) |  |  |
| 4.55%, 01/29/34 | &nbsp;&nbsp; 457 | 454097 |
| 4.55%, 10/24/34 | &nbsp;&nbsp; 40 | 39782 |
| 5.80%, 08/15/34 | &nbsp;&nbsp; 238 | 257727 |
| Unilever Capital Corp., 4.63%, 08/12/34 | &nbsp;&nbsp; 575 | 564249 |
|  |  | 1707807 |
| **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** |
| WW Grainger Inc., 4.45%, 09/15/34 | &nbsp;&nbsp; 300 | 290789 |
| **Diversified Financial Services — 3.9%** | **Diversified Financial Services — 3.9%** | **Diversified Financial Services — 3.9%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| 4.95%, 09/10/34 | &nbsp;&nbsp; 645 | 620775 |
| 5.30%, 01/19/34<sup>(a)</sup> | &nbsp;&nbsp; 410 | 406904 |
| Affiliated Managers Group Inc., 5.50%, 08/20/34 | &nbsp;&nbsp; 277 | 272886 |
| Blue Owl Finance LLC, 6.25%, 04/18/34 | &nbsp;&nbsp; 606 | 623168 |
| Brookfield Finance Inc., 6.35%, 01/05/34 | &nbsp;&nbsp; 490 | 524412 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2034 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| Janus Henderson U.S. Holdings Inc., 5.45%, <br> 09/10/34<sup>(b)</sup><br>| &nbsp;&nbsp; $270 | $261683 |
| Jefferies Financial Group Inc., 6.20%, 04/14/34 | &nbsp;&nbsp; 935 | 974223 |
| LPL Holdings Inc., 6.00%, 05/20/34 | &nbsp;&nbsp; 335 | 341634 |
| Mastercard Inc., 4.88%, 05/09/34 | &nbsp;&nbsp; 595 | 594756 |
| Nasdaq Inc., 5.55%, 02/15/34 | &nbsp;&nbsp; 833 | 850272 |
| Nomura Holdings Inc., 5.78%, 07/03/34<sup>(a)</sup> | &nbsp;&nbsp; 670 | 683174 |
| TPG Operating Group II LP, 5.88%, 03/05/34 | &nbsp;&nbsp; 392 | 405285 |
| Voya Financial Inc., 5.00%, 09/20/34 | &nbsp;&nbsp; 270 | 260559 |
|  |  | 6819731 |
| **Electric — 11.2%** | **Electric — 11.2%** | **Electric — 11.2%** |
| AEP Texas Inc., 5.70%, 05/15/34 | &nbsp;&nbsp; 215 | 219077 |
| AEP Transmission Co. LLC, 5.15%, 04/01/34 | &nbsp;&nbsp; 272 | 272683 |
| Appalachian Power Co., 5.65%, 04/01/34 | &nbsp;&nbsp; 236 | 241260 |
| Arizona Public Service Co., 5.70%, 08/15/34 | &nbsp;&nbsp; 281 | 287905 |
| Baltimore Gas & Electric Co., 5.30%, 06/01/34 | &nbsp;&nbsp; 233 | 236611 |
| Black Hills Corp., 6.15%, 05/15/34 | &nbsp;&nbsp; 275 | 288173 |
| CenterPoint Energy Houston Electric LLC, 5.15%, <br> 03/01/34<br>| &nbsp;&nbsp; 236 | 236961 |
| Commonwealth Edison Co., 5.30%, 06/01/34 | &nbsp;&nbsp; 232 | 236703 |
| Connecticut Light and Power Co. (The), 4.95%, <br> 08/15/34<br>| &nbsp;&nbsp; 190 | 188242 |
| Consolidated Edison Co. of New York Inc. |  |  |
| 5.38%, 05/15/34 | &nbsp;&nbsp; 244 | 250290 |
| 5.50%, 03/15/34 | &nbsp;&nbsp; 354 | 367367 |
| Constellation Energy Generation LLC, 6.13%, <br> 01/15/34<br>| &nbsp;&nbsp; 329 | 350530 |
| DTE Electric Co., 5.20%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp; 308 | 311893 |
| DTE Energy Co., 5.85%, 06/01/34 | &nbsp;&nbsp; 496 | 515169 |
| Duke Energy Carolinas LLC, 4.85%, 01/15/34 | &nbsp;&nbsp; 343 | 338554 |
| Duke Energy Corp., 5.45%, 06/15/34 | &nbsp;&nbsp; 441 | 446002 |
| Duke Energy Indiana LLC, 5.25%, 03/01/34 | &nbsp;&nbsp; 177 | 179769 |
| Duke Energy Progress LLC, 5.10%, 03/15/34 | &nbsp;&nbsp; 288 | 290111 |
| Entergy Arkansas LLC, 5.45%, 06/01/34 | &nbsp;&nbsp; 232 | 239347 |
| Entergy Louisiana LLC |  |  |
| 5.15%, 09/15/34 | &nbsp;&nbsp; 400 | 398398 |
| 5.35%, 03/15/34 | &nbsp;&nbsp; 286 | 290711 |
| Evergy Metro Inc., 5.40%, 04/01/34 | &nbsp;&nbsp; 209 | 211555 |
| Eversource Energy |  |  |
| 5.50%, 01/01/34 | &nbsp;&nbsp; 378 | 380615 |
| 5.95%, 07/15/34 | &nbsp;&nbsp; 410 | 425883 |
| Exelon Corp., 5.45%, 03/15/34 | &nbsp;&nbsp; 390 | 396731 |
| Florida Power & Light Co. |  |  |
| 5.00%, 08/01/34 | &nbsp;&nbsp; 200 | 201862 |
| 5.30%, 06/15/34 | &nbsp;&nbsp; 468 | 477623 |
| 5.63%, 04/01/34 | &nbsp;&nbsp; 226 | 237010 |
| Georgia Power Co., 5.25%, 03/15/34 | &nbsp;&nbsp; 516 | 524052 |
| Idaho Power Co., 5.20%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 200 | 200402 |
| Interstate Power and Light Co., 4.95%, 09/30/34 | &nbsp;&nbsp; 240 | 235924 |
| IPALCO Enterprises Inc., 5.75%, 04/01/34 | &nbsp;&nbsp; 228 | 231437 |
| MidAmerican Energy Co., 5.35%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; 187 | 191912 |
| National Grid PLC, 5.42%, 01/11/34 | &nbsp;&nbsp; 468 | 472888 |
| National Rural Utilities Cooperative Finance Corp., <br> 5.00%, 08/15/34<br>| &nbsp;&nbsp; 240 | 237563 |
| NextEra Energy Capital Holdings Inc., 5.25%, <br> 03/15/34<br>| &nbsp;&nbsp; 651 | 654288 |
| NSTAR Electric Co., 5.40%, 06/01/34 | &nbsp;&nbsp; 356 | 363723 |
| Ohio Power Co., 5.65%, 06/01/34 | &nbsp;&nbsp; 208 | 212669 |
| Pacific Gas and Electric Co. |  |  |
| 5.80%, 05/15/34 | &nbsp;&nbsp; 649 | 666617 |
| 6.95%, 03/15/34 | &nbsp;&nbsp; 485 | 537943 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| PacifiCorp, 5.45%, 02/15/34 | &nbsp;&nbsp; $649 | $653104 |
| Potomac Electric Power Co., 5.20%, 03/15/34 | &nbsp;&nbsp; 229 | 231608 |
| PPL Capital Funding Inc., 5.25%, 09/01/34<sup>(a)</sup> | &nbsp;&nbsp; 479 | 475506 |
| PPL Electric Utilities Corp., 4.85%, 02/15/34 | &nbsp;&nbsp; 330 | 326600 |
| Public Service Co. of Colorado, 5.35%, 05/15/34 | &nbsp;&nbsp; 243 | 246721 |
| Public Service Electric & Gas Co. |  |  |
| 4.85%, 08/01/34 | &nbsp;&nbsp; 360 | 356075 |
| 5.20%, 03/01/34 | &nbsp;&nbsp; 268 | 271980 |
| Public Service Enterprise Group Inc., 5.45%, <br> 04/01/34<br>| &nbsp;&nbsp; 291 | 294410 |
| Puget Sound Energy Inc., 5.33%, 06/15/34 | &nbsp;&nbsp; 229 | 232365 |
| Southern California Edison Co. |  |  |
| 5.20%, 06/01/34 | &nbsp;&nbsp; 576 | 577926 |
| 6.00%, 01/15/34 | &nbsp;&nbsp; 256 | 272721 |
| Southern Co. (The), 5.70%, 03/15/34 | &nbsp;&nbsp; 673 | 699794 |
| Tucson Electric Power Co., 5.20%, 09/15/34 | &nbsp;&nbsp; 261 | 259752 |
| Union Electric Co., 5.20%, 04/01/34<sup>(a)</sup> | &nbsp;&nbsp; 331 | 334540 |
| Virginia Electric & Power Co. |  |  |
| 5.00%, 01/15/34 | &nbsp;&nbsp; 294 | 291394 |
| 5.05%, 08/15/34 | &nbsp;&nbsp; 360 | 357510 |
| Wisconsin Electric Power Co., 4.60%, 10/01/34 | &nbsp;&nbsp; 211 | 204290 |
| Wisconsin Power and Light Co., 5.38%, 03/30/34 | &nbsp;&nbsp; 167 | 169273 |
| Xcel Energy Inc., 5.50%, 03/15/34 | &nbsp;&nbsp; 495 | 499245 |
|  |  | 19801267 |
| **Electronics — 1.2%** | **Electronics — 1.2%** | **Electronics — 1.2%** |
| Allegion U.S. Holding Co. Inc., 5.60%, 05/29/34 | &nbsp;&nbsp; 249 | 253583 |
| Amphenol Corp., 5.25%, 04/05/34 | &nbsp;&nbsp; 366 | 370714 |
| Arrow Electronics Inc., 5.88%, 04/10/34<sup>(a)</sup> | &nbsp;&nbsp; 298 | 301812 |
| Honeywell International Inc., 4.50%, 01/15/34 | &nbsp;&nbsp; 605 | 588335 |
| Keysight Technologies Inc., 4.95%, 10/15/34<sup>(a)</sup> | &nbsp;&nbsp; 300 | 291324 |
| TD SYNNEX Corp., 6.10%, 04/12/34 | &nbsp;&nbsp; 351 | 362973 |
|  |  | 2168741 |
| **Environmental Control — 1.1%** | **Environmental Control — 1.1%** | **Environmental Control — 1.1%** |
| Republic Services Inc. |  |  |
| 5.00%, 04/01/34 | &nbsp;&nbsp; 488 | 485597 |
| 5.20%, 11/15/34 | &nbsp;&nbsp; 298 | 301503 |
| Waste Connections Inc., 5.00%, 03/01/34 | &nbsp;&nbsp; 459 | 455169 |
| Waste Management Inc., 4.88%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 758 | 755438 |
|  |  | 1997707 |
| **Food — 2.7%** | **Food — 2.7%** | **Food — 2.7%** |
| Campbell Soup Co., 5.40%, 03/21/34 | &nbsp;&nbsp; 609 | 615475 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS <br> Lux Co. SARL, 6.75%, 03/15/34<sup>(b)</sup><br>| &nbsp;&nbsp; 882 | 946746 |
| Kroger Co. (The), 5.00%, 09/15/34 | &nbsp;&nbsp; 1305 | 1282800 |
| McCormick & Co. Inc./MD, 4.70%, 10/15/34 | &nbsp;&nbsp; 130 | 124932 |
| Mondelez International Inc., 4.75%, 08/28/34<sup>(a)</sup> | &nbsp;&nbsp; 285 | 276360 |
| Pilgrim's Pride Corp., 6.88%, 05/15/34 | &nbsp;&nbsp; 300 | 325484 |
| Sysco Corp., 6.00%, 01/17/34<sup>(a)</sup> | &nbsp;&nbsp; 311 | 330433 |
| Tyson Foods Inc. |  |  |
| 4.88%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 263 | 253529 |
| 5.70%, 03/15/34 | &nbsp;&nbsp; 554 | 565169 |
|  |  | 4720928 |
| **Gas — 0.8%** | **Gas — 0.8%** | **Gas — 0.8%** |
| CenterPoint Energy Resources Corp., 5.40%, <br> 07/01/34<br>| &nbsp;&nbsp; 242 | 244684 |
| NiSource Inc., 5.35%, 04/01/34 | &nbsp;&nbsp; 387 | 388384 |
| Southern California Gas Co., 5.05%, 09/01/34 | &nbsp;&nbsp; 355 | 354002 |
| Southern Co. Gas Capital Corp., 4.95%, 09/15/34 | &nbsp;&nbsp; 271 | 265184 |
| Spire Missouri Inc., Series 2034, 5.15%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 185 | 186242 |
|  |  | 1438496 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2034 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Products — 1.6%** | **Health Care - Products — 1.6%** | **Health Care - Products — 1.6%** |
| Agilent Technologies Inc., 4.75%, 09/09/34<sup>(a)</sup> | &nbsp;&nbsp; $340 | $328306 |
| Smith & Nephew PLC, 5.40%, 03/20/34 | &nbsp;&nbsp; 387 | 388327 |
| Solventum Corp., 5.60%, 03/23/34<sup>(b)</sup> | &nbsp;&nbsp; 983 | 990662 |
| Stryker Corp., 4.63%, 09/11/34 | &nbsp;&nbsp; 461 | 445156 |
| Thermo Fisher Scientific Inc., 5.20%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp; 299 | 304959 |
| Zimmer Biomet Holdings Inc., 5.20%, 09/15/34 | &nbsp;&nbsp; 415 | 410560 |
|  |  | 2867970 |
| **Health Care - Services — 4.4%** | **Health Care - Services — 4.4%** | **Health Care - Services — 4.4%** |
| Adventist Health System/West, 5.76%, 12/01/34 | &nbsp;&nbsp; 249 | 251448 |
| Cigna Group (The), 5.25%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 746 | 743531 |
| CommonSpirit Health, 5.32%, 12/01/34 | &nbsp;&nbsp; 410 | 411870 |
| Elevance Health Inc. |  |  |
| 5.38%, 06/15/34 | &nbsp;&nbsp; 599 | 604348 |
| 5.95%, 12/15/34<sup>(a)</sup> | &nbsp;&nbsp; 188 | 197838 |
| HCA Inc. |  |  |
| 5.45%, 09/15/34 | &nbsp;&nbsp; 740 | 734775 |
| 5.60%, 04/01/34 | &nbsp;&nbsp; 779 | 784770 |
| Humana Inc., 5.95%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 484 | 496508 |
| ICON Investments Six DAC, 6.00%, 05/08/34 | &nbsp;&nbsp; 295 | 301997 |
| Laboratory Corp. of America Holdings, 4.80%, <br> 10/01/34<sup>(a)</sup><br>| &nbsp;&nbsp; 515 | 496155 |
| Quest Diagnostics Inc., 5.00%, 12/15/34 | &nbsp;&nbsp; 510 | 499772 |
| UnitedHealth Group Inc. |  |  |
| 5.00%, 04/15/34 | &nbsp;&nbsp; 732 | 728730 |
| 5.15%, 07/15/34 | &nbsp;&nbsp; 1166 | 1175026 |
| Universal Health Services Inc., 5.05%, 10/15/34 | &nbsp;&nbsp; 310 | 294182 |
|  |  | 7720950 |
| **Holding Companies - Diversified — 0.2%** | **Holding Companies - Diversified — 0.2%** | **Holding Companies - Diversified — 0.2%** |
| HA Sustainable Infrastructure Capital Inc., 6.38%, <br> 07/01/34<sup>(b)</sup><br>| &nbsp;&nbsp; 428 | 425762 |
| **Home Builders — 0.2%** | **Home Builders — 0.2%** | **Home Builders — 0.2%** |
| DR Horton Inc., 5.00%, 10/15/34<sup>(a)</sup> | &nbsp;&nbsp; 425 | 414775 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| Whirlpool Corp., 5.75%, 03/01/34 | &nbsp;&nbsp; 178 | 177046 |
| **Insurance — 4.4%** | **Insurance — 4.4%** | **Insurance — 4.4%** |
| Aon North America Inc., 5.45%, 03/01/34 | &nbsp;&nbsp; 1040 | 1056859 |
| Arch Capital Group Ltd., 7.35%, 05/01/34 | &nbsp;&nbsp; 195 | 223283 |
| Arthur J Gallagher & Co. |  |  |
| 5.45%, 07/15/34 | &nbsp;&nbsp; 313 | 315938 |
| 6.50%, 02/15/34 | &nbsp;&nbsp; 231 | 250058 |
| Athene Holding Ltd., 5.88%, 01/15/34 | &nbsp;&nbsp; 356 | 362310 |
| Brown & Brown Inc., 5.65%, 06/11/34 | &nbsp;&nbsp; 355 | 360501 |
| Chubb INA Holdings LLC, 5.00%, 03/15/34 | &nbsp;&nbsp; 952 | 952080 |
| Cincinnati Financial Corp., 6.13%, 11/01/34 | &nbsp;&nbsp; 207 | 219754 |
| CNA Financial Corp., 5.13%, 02/15/34 | &nbsp;&nbsp; 303 | 299786 |
| CNO Financial Group Inc., 6.45%, 06/15/34 | &nbsp;&nbsp; 412 | 424335 |
| Corebridge Financial Inc., 5.75%, 01/15/34 | &nbsp;&nbsp; 447 | 457588 |
| F&G Annuities & Life Inc., 6.25%, 10/04/34 | &nbsp;&nbsp; 205 | 198778 |
| First American Financial Corp., 5.45%, 09/30/34 | &nbsp;&nbsp; 260 | 252134 |
| Globe Life Inc., 5.85%, 09/15/34 | &nbsp;&nbsp; 275 | 278517 |
| Lincoln National Corp., 5.85%, 03/15/34 | &nbsp;&nbsp; 197 | 202354 |
| Marsh & McLennan Companies Inc., 5.15%, <br> 03/15/34<sup>(a)</sup><br>| &nbsp;&nbsp; 303 | 306491 |
| MetLife Inc. |  |  |
| 5.30%, 12/15/34 | &nbsp;&nbsp; 456 | 461569 |
| 6.38%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 463 | 506443 |
| Old Republic International Corp., 5.75%, 03/28/34 | &nbsp;&nbsp; 268 | 272515 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Reinsurance Group of America Inc., 5.75%, 09/15/34 | &nbsp;&nbsp; $409 | $416842 |
|  |  | 7818135 |
| **Internet — 2.3%** | **Internet — 2.3%** | **Internet — 2.3%** |
| Alibaba Group Holding Ltd., 4.50%, 11/28/34 | &nbsp;&nbsp; 385 | 366209 |
| Amazon.com Inc., 4.80%, 12/05/34 | &nbsp;&nbsp; 728 | 732610 |
| Meta Platforms Inc., 4.75%, 08/15/34 | &nbsp;&nbsp; 1479 | 1462319 |
| Netflix Inc., 4.90%, 08/15/34 | &nbsp;&nbsp; 619 | 618558 |
| Uber Technologies Inc., 4.80%, 09/15/34 | &nbsp;&nbsp; 880 | 852512 |
|  |  | 4032208 |
| **Iron & Steel — 0.6%** | **Iron & Steel — 0.6%** | **Iron & Steel — 0.6%** |
| ArcelorMittal SA, 6.00%, 06/17/34<sup>(a)</sup> | &nbsp;&nbsp; 302 | 309836 |
| Steel Dynamics Inc., 5.38%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 349 | 350781 |
| Vale Overseas Ltd., 8.25%, 01/17/34 | &nbsp;&nbsp; 374 | 451446 |
|  |  | 1112063 |
| **Lodging — 0.9%** | **Lodging — 0.9%** | **Lodging — 0.9%** |
| Choice Hotels International Inc., 5.85%, 08/01/34<sup>(a)</sup> | &nbsp;&nbsp; 356 | 357276 |
| Hyatt Hotels Corp., 5.50%, 06/30/34 | &nbsp;&nbsp; 218 | 218068 |
| Las Vegas Sands Corp., 6.20%, 08/15/34<sup>(a)</sup> | &nbsp;&nbsp; 295 | 300312 |
| Marriott International Inc./MD, 5.30%, 05/15/34 | &nbsp;&nbsp; 624 | 624075 |
|  |  | 1499731 |
| **Machinery — 1.3%** | **Machinery — 1.3%** | **Machinery — 1.3%** |
| AGCO Corp., 5.80%, 03/21/34 | &nbsp;&nbsp; 417 | 424210 |
| Ingersoll Rand Inc., 5.45%, 06/15/34 | &nbsp;&nbsp; 453 | 462087 |
| John Deere Capital Corp. |  |  |
| 5.10%, 04/11/34 | &nbsp;&nbsp; 614 | 621844 |
| Series 1, 5.05%, 06/12/34 | &nbsp;&nbsp; 485 | 489859 |
| Westinghouse Air Brake Technologies Corp., 5.61%, <br> 03/11/34<br>| &nbsp;&nbsp; 337 | 346357 |
|  |  | 2344357 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| Parker-Hannifin Corp., 4.20%, 11/21/34 | &nbsp;&nbsp; 298 | 279749 |
| **Media — 1.9%** | **Media — 1.9%** | **Media — 1.9%** |
| Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| 6.55%, 06/01/34 | &nbsp;&nbsp; 884 | 899960 |
| 6.65%, 02/01/34 | &nbsp;&nbsp; 539 | 553377 |
| Comcast Corp. |  |  |
| 4.20%, 08/15/34 | &nbsp;&nbsp; 575 | 537617 |
| 5.30%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 789 | 802701 |
| Walt Disney Co. (The), 6.20%, 12/15/34 | &nbsp;&nbsp; 584 | 642148 |
|  |  | 3435803 |
| **Mining — 0.6%** | **Mining — 0.6%** | **Mining — 0.6%** |
| Freeport-McMoRan Inc., 5.40%, 11/14/34<sup>(a)</sup> | &nbsp;&nbsp; 437 | 437184 |
| Newmont Corp./Newcrest Finance Pty. Ltd., 5.35%, <br> 03/15/34<br>| &nbsp;&nbsp; 597 | 607247 |
|  |  | 1044431 |
| **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** | **Office & Business Equipment — 0.2%** |
| CDW LLC/CDW Finance Corp., 5.55%, 08/22/34 | &nbsp;&nbsp; 355 | 353014 |
| **Oil & Gas — 4.5%** | **Oil & Gas — 4.5%** | **Oil & Gas — 4.5%** |
| BP Capital Markets America Inc. |  |  |
| 4.99%, 04/10/34 | &nbsp;&nbsp; 597 | 589895 |
| 5.23%, 11/17/34 | &nbsp;&nbsp; 610 | 612742 |
| Coterra Energy Inc., 5.60%, 03/15/34 | &nbsp;&nbsp; 328 | 327536 |
| Devon Energy Corp., 5.20%, 09/15/34 | &nbsp;&nbsp; 745 | 716338 |
| Diamondback Energy Inc., 5.40%, 04/18/34 | &nbsp;&nbsp; 778 | 776309 |
| EQT Corp., 5.75%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; 462 | 463641 |
| Helmerich & Payne Inc., 5.50%, 12/01/34<sup>(a)(b)</sup> | &nbsp;&nbsp; 320 | 302781 |
| Marathon Oil Corp., 5.70%, 04/01/34 | &nbsp;&nbsp; 355 | 367963 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2034 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Occidental Petroleum Corp., 5.55%, 10/01/34 | &nbsp;&nbsp; $720 | $708798 |
| Ovintiv Inc., 6.50%, 08/15/34 | &nbsp;&nbsp; 367 | 384600 |
| Phillips 66, 4.65%, 11/15/34 | &nbsp;&nbsp; 633 | 598238 |
| Suncor Energy Inc., 5.95%, 12/01/34 | &nbsp;&nbsp; 288 | 301215 |
| TotalEnergies Capital SA |  |  |
| 4.72%, 09/10/34 | &nbsp;&nbsp; 430 | 419264 |
| 5.15%, 04/05/34 | &nbsp;&nbsp; 741 | 748145 |
| Woodside Finance Ltd., 5.10%, 09/12/34<sup>(a)</sup> | &nbsp;&nbsp; 720 | 696961 |
|  |  | 8014426 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| Schlumberger Investment SA, 5.00%, 06/01/34 | &nbsp;&nbsp; 290 | 287721 |
| **Packaging & Containers — 0.9%** | **Packaging & Containers — 0.9%** | **Packaging & Containers — 0.9%** |
| Berry Global Inc., 5.65%, 01/15/34<sup>(b)</sup> | &nbsp;&nbsp; 508 | 507683 |
| Smurfit Kappa Treasury ULC, 5.44%, 04/03/34<sup>(b)</sup> | &nbsp;&nbsp; 595 | 598221 |
| Sonoco Products Co., 5.00%, 09/01/34 | &nbsp;&nbsp; 420 | 402341 |
|  |  | 1508245 |
| **Pharmaceuticals — 5.7%** | **Pharmaceuticals — 5.7%** | **Pharmaceuticals — 5.7%** |
| AbbVie Inc., 5.05%, 03/15/34 | &nbsp;&nbsp; 1768 | 1780831 |
| Astrazeneca Finance LLC, 5.00%, 02/26/34 | &nbsp;&nbsp; 914 | 919781 |
| Becton Dickinson & Co., 5.11%, 02/08/34 | &nbsp;&nbsp; 328 | 326422 |
| Bristol-Myers Squibb Co., 5.20%, 02/22/34 | &nbsp;&nbsp; 1485 | 1511261 |
| Cardinal Health Inc., 5.45%, 02/15/34 | &nbsp;&nbsp; 291 | 296196 |
| Cencora Inc., 5.13%, 02/15/34 | &nbsp;&nbsp; 316 | 313744 |
| CVS Health Corp., 5.70%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 744 | 747445 |
| Eli Lilly & Co. |  |  |
| 4.60%, 08/14/34 | &nbsp;&nbsp; 738 | 721628 |
| 4.70%, 02/09/34 | &nbsp;&nbsp; 891 | 878461 |
| GlaxoSmithKline Capital Inc., 5.38%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp; 311 | 323664 |
| Johnson & Johnson, 4.95%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 506 | 516005 |
| Novartis Capital Corp., 4.20%, 09/18/34 | &nbsp;&nbsp; 665 | 630392 |
| Takeda Pharmaceutical Co. Ltd., 5.30%, 07/05/34 | &nbsp;&nbsp; 650 | 658560 |
| Wyeth LLC, 6.50%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; 450 | 499367 |
|  |  | 10123757 |
| **Pipelines — 6.9%** | **Pipelines — 6.9%** | **Pipelines — 6.9%** |
| Boardwalk Pipelines LP, 5.63%, 08/01/34 | &nbsp;&nbsp; 364 | 364685 |
| Cheniere Energy Inc., 5.65%, 04/15/34 | &nbsp;&nbsp; 797 | 801213 |
| Cheniere Energy Partners LP, 5.75%, 08/15/34<sup>(b)</sup> | &nbsp;&nbsp; 689 | 696389 |
| Enbridge Inc., 5.63%, 04/05/34 | &nbsp;&nbsp; 738 | 749748 |
| Energy Transfer LP |  |  |
| 5.55%, 05/15/34 | &nbsp;&nbsp; 740 | 743000 |
| 5.60%, 09/01/34 | &nbsp;&nbsp; 744 | 749530 |
| EnLink Midstream LLC, 5.65%, 09/01/34 | &nbsp;&nbsp; 314 | 315195 |
| Enterprise Products Operating LLC |  |  |
| 4.85%, 01/31/34 | &nbsp;&nbsp; 625 | 613648 |
| Series H, 6.65%, 10/15/34 | &nbsp;&nbsp; 189 | 208614 |
| Kinder Morgan Inc. |  |  |
| 5.30%, 12/01/34 | &nbsp;&nbsp; 414 | 407762 |
| 5.40%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; 645 | 643058 |
| MPLX LP, 5.50%, 06/01/34<sup>(a)</sup> | &nbsp;&nbsp; 995 | 991838 |
| ONEOK Inc., 5.05%, 11/01/34 | &nbsp;&nbsp; 960 | 930487 |
| Plains All American Pipeline LP/PAA Finance Corp., <br> 5.70%, 09/15/34<br>| &nbsp;&nbsp; 402 | 405607 |
| South Bow USA Infrastructure Holdings LLC, 5.58%, <br> 10/01/34<sup>(b)</sup><br>| &nbsp;&nbsp; 744 | 734964 |
| Targa Resources Corp., 6.50%, 03/30/34 | &nbsp;&nbsp; 597 | 640566 |
| TransCanada PipeLines Ltd. |  |  |
| 4.63%, 03/01/34 | &nbsp;&nbsp; 767 | 725451 |
| 5.60%, 03/31/34 | &nbsp;&nbsp; 209 | 211534 |
| Western Midstream Operating LP, 5.45%, 11/15/34 | &nbsp;&nbsp; 485 | 473253 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Williams Companies Inc. (The), 5.15%, 03/15/34 | &nbsp;&nbsp; $764 | $751980 |
|  |  | 12158522 |
| **Real Estate — 0.3%** | **Real Estate — 0.3%** | **Real Estate — 0.3%** |
| CBRE Services Inc., 5.95%, 08/15/34 | &nbsp;&nbsp; 577 | 603738 |
| **Real Estate Investment Trusts — 7.2%** | **Real Estate Investment Trusts — 7.2%** | **Real Estate Investment Trusts — 7.2%** |
| Agree LP, 5.63%, 06/15/34 | &nbsp;&nbsp; 269 | 273208 |
| Alexandria Real Estate Equities Inc., 2.95%, 03/15/34 | &nbsp;&nbsp; 466 | 389813 |
| American Assets Trust LP, 6.15%, 10/01/34<sup>(a)</sup> | &nbsp;&nbsp; 305 | 305827 |
| American Homes 4 Rent LP |  |  |
| 5.50%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp; 349 | 350517 |
| 5.50%, 07/15/34<sup>(a)</sup> | &nbsp;&nbsp; 299 | 300612 |
| American Tower Corp., 5.45%, 02/15/34 | &nbsp;&nbsp; 386 | 390606 |
| Americold Realty Operating Partnership LP, 5.41%, <br> 09/12/34<br>| &nbsp;&nbsp; 295 | 287663 |
| AvalonBay Communities Inc., 5.35%, 06/01/34 | &nbsp;&nbsp; 228 | 232260 |
| Boston Properties LP, 6.50%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; 445 | 470926 |
| Brixmor Operating Partnership LP, 5.50%, 02/15/34 | &nbsp;&nbsp; 233 | 233215 |
| Camden Property Trust, 4.90%, 01/15/34 | &nbsp;&nbsp; 262 | 256300 |
| Cousins Properties LP, 5.88%, 10/01/34 | &nbsp;&nbsp; 315 | 317764 |
| Crown Castle Inc. |  |  |
| 5.20%, 09/01/34 | &nbsp;&nbsp; 425 | 416803 |
| 5.80%, 03/01/34 | &nbsp;&nbsp; 449 | 461230 |
| Equinix Europe 2 Financing Corp. LLC, 5.50%, <br> 06/15/34<br>| &nbsp;&nbsp; 441 | 447939 |
| ERP Operating LP, 4.65%, 09/15/34 | &nbsp;&nbsp; 399 | 382979 |
| Essex Portfolio LP, 5.50%, 04/01/34 | &nbsp;&nbsp; 357 | 360112 |
| Extra Space Storage LP, 5.40%, 02/01/34 | &nbsp;&nbsp; 348 | 348124 |
| GLP Capital LP/GLP Financing II Inc., 5.63%, <br> 09/15/34<br>| &nbsp;&nbsp; 500 | 493709 |
| Highwoods Realty LP, 7.65%, 02/01/34 | &nbsp;&nbsp; 202 | 226468 |
| Host Hotels & Resorts LP, 5.70%, 07/01/34<sup>(a)</sup> | &nbsp;&nbsp; 337 | 336592 |
| Invitation Homes Operating Partnership LP, 2.70%, <br> 01/15/34<br>| &nbsp;&nbsp; 233 | 188415 |
| Kimco Realty OP LLC, 6.40%, 03/01/34 | &nbsp;&nbsp; 276 | 299536 |
| Kite Realty Group LP, 5.50%, 03/01/34 | &nbsp;&nbsp; 189 | 189871 |
| Mid-America Apartments LP, 5.00%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp; 197 | 195214 |
| NNN REIT Inc., 5.50%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp; 278 | 281148 |
| Phillips Edison Grocery Center Operating Partnership <br> I LP, 5.75%, 07/15/34<br>| &nbsp;&nbsp; 206 | 209067 |
| Prologis LP |  |  |
| 5.00%, 03/15/34 | &nbsp;&nbsp; 465 | 460166 |
| 5.13%, 01/15/34 | &nbsp;&nbsp; 475 | 475322 |
| Realty Income Corp., 5.13%, 02/15/34 | &nbsp;&nbsp; 501 | 498322 |
| Regency Centers LP, 5.25%, 01/15/34 | &nbsp;&nbsp; 258 | 259168 |
| Safehold GL Holdings LLC, 6.10%, 04/01/34 | &nbsp;&nbsp; 181 | 186392 |
| Simon Property Group LP |  |  |
| 4.75%, 09/26/34 | &nbsp;&nbsp; 570 | 546590 |
| 6.25%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; 339 | 365122 |
| UDR Inc. |  |  |
| 3.10%, 11/01/34 | &nbsp;&nbsp; 167 | 138059 |
| 5.13%, 09/01/34 | &nbsp;&nbsp; 208 | 203433 |
| Ventas Realty LP, 5.63%, 07/01/34 | &nbsp;&nbsp; 297 | 303656 |
| VICI Properties LP, 5.75%, 04/01/34<sup>(a)</sup> | &nbsp;&nbsp; 322 | 326859 |
| WP Carey Inc., 5.38%, 06/30/34<sup>(a)</sup> | &nbsp;&nbsp; 245 | 245117 |
|  |  | 12654124 |
| **Retail — 1.7%** | **Retail — 1.7%** | **Retail — 1.7%** |
| AutoZone Inc., 5.40%, 07/15/34 | &nbsp;&nbsp; 436 | 439026 |
| Ferguson Enterprises Inc., 5.00%, 10/03/34 | &nbsp;&nbsp; 135 | 130963 |
| Home Depot Inc. (The), 4.95%, 06/25/34 | &nbsp;&nbsp; 1050 | 1051237 |
| McDonald's Corp., 5.20%, 05/17/34 | &nbsp;&nbsp; 282 | 287543 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2034 Term Corporate ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| O'Reilly Automotive Inc., 5.00%, 08/19/34 | &nbsp;&nbsp; $315 | $308264 |
| Starbucks Corp., 5.00%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 309 | 306179 |
| Target Corp., 4.50%, 09/15/34 | &nbsp;&nbsp; 460 | 445408 |
|  |  | 2968620 |
| **Semiconductors — 2.4%** | **Semiconductors — 2.4%** | **Semiconductors — 2.4%** |
| Analog Devices Inc., 5.05%, 04/01/34<sup>(a)</sup> | &nbsp;&nbsp; 334 | 337971 |
| Broadcom Inc. |  |  |
| 3.47%, 04/15/34<sup>(b)</sup> | &nbsp;&nbsp; 1878 | 1639099 |
| 4.80%, 10/15/34 | &nbsp;&nbsp; 1080 | 1043713 |
| Intel Corp., 5.15%, 02/21/34<sup>(a)</sup> | &nbsp;&nbsp; 527 | 514939 |
| KLA Corp., 4.70%, 02/01/34 | &nbsp;&nbsp; 281 | 276350 |
| Texas Instruments Inc., 4.85%, 02/08/34 | &nbsp;&nbsp; 337 | 337639 |
|  |  | 4149711 |
| **Software — 2.8%** | **Software — 2.8%** | **Software — 2.8%** |
| Adobe Inc., 4.95%, 04/04/34 | &nbsp;&nbsp; 417 | 419429 |
| Atlassian Corp., 5.50%, 05/15/34 | &nbsp;&nbsp; 294 | 298954 |
| Cadence Design Systems Inc., 4.70%, 09/10/34<sup>(a)</sup> | &nbsp;&nbsp; 585 | 570357 |
| Fiserv Inc. |  |  |
| 5.15%, 08/12/34 | &nbsp;&nbsp; 540 | 536191 |
| 5.45%, 03/15/34 | &nbsp;&nbsp; 439 | 445437 |
| Oracle Corp. |  |  |
| 4.30%, 07/08/34 | &nbsp;&nbsp; 1027 | 958545 |
| 4.70%, 09/27/34 | &nbsp;&nbsp; 1030 | 991104 |
| Roper Technologies Inc., 4.90%, 10/15/34 | &nbsp;&nbsp; 585 | 570794 |
| Take-Two Interactive Software Inc., 5.60%, 06/12/34 | &nbsp;&nbsp; 185 | 187685 |
|  |  | 4978496 |
| **Telecommunications — 4.1%** | **Telecommunications — 4.1%** | **Telecommunications — 4.1%** |
| AT&T Inc., 5.40%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp; 1625 | 1650163 |
| Bell Telephone Co. of Canada or Bell Canada, 5.20%, <br> 02/15/34<br>| &nbsp;&nbsp; 430 | 427637 |
| Cisco Systems Inc., 5.05%, 02/26/34 | &nbsp;&nbsp; 1469 | 1493603 |
| Motorola Solutions Inc., 5.40%, 04/15/34 | &nbsp;&nbsp; 528 | 534732 |
| Rogers Communications Inc., 5.30%, 02/15/34 | &nbsp;&nbsp; 763 | 756855 |
| T-Mobile USA Inc. |  |  |
| 5.15%, 04/15/34 | &nbsp;&nbsp; 745 | 744096 |
| 5.75%, 01/15/34 | &nbsp;&nbsp; 602 | 627350 |
| Verizon Communications Inc., 4.40%, 11/01/34 | &nbsp;&nbsp; 1129 | 1060219 |
|  |  | 7294655 |
| **Toys, Games & Hobbies — 0.2%** | **Toys, Games & Hobbies — 0.2%** | **Toys, Games & Hobbies — 0.2%** |
| Hasbro Inc., 6.05%, 05/14/34 | &nbsp;&nbsp; 298 | 304249 |
| **Transportation — 1.3%** | **Transportation — 1.3%** | **Transportation — 1.3%** |
| Canadian National Railway Co. |  |  |
| 4.38%, 09/18/34 | &nbsp;&nbsp; 446 | 426879 |
| 6.25%, 08/01/34 | &nbsp;&nbsp; 304 | 334454 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| FedEx Corp., 4.90%, 01/15/34 | &nbsp;&nbsp; $279 | $276568 |
| FedEx Corp. Pass-Through Trust, Series 2020-1, <br> Class AA, 1.88%, 08/20/35<br>| &nbsp;&nbsp; 431 | 363361 |
| Norfolk Southern Corp., 5.55%, 03/15/34 | &nbsp;&nbsp; 274 | 283983 |
| United Parcel Service Inc., 5.15%, 05/22/34<sup>(a)</sup> | &nbsp;&nbsp; 534 | 542531 |
|  |  | 2227776 |
| **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** |
| GATX Corp. |  |  |
| 6.05%, 03/15/34 | &nbsp;&nbsp; 286 | 299552 |
| 6.90%, 05/01/34 | &nbsp;&nbsp; 261 | 288697 |
|  |  | 588249 |
| **Water — 0.4%** | **Water — 0.4%** | **Water — 0.4%** |
| American Water Capital Corp., 5.15%, 03/01/34 | &nbsp;&nbsp; 404 | 406639 |
| Essential Utilities Inc., 5.38%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp; 299 | 301279 |
|  |  | 707918 |
| **Total Long-Term Investments — 98.2%** <br>**(Cost: $174,327,417)** | **Total Long-Term Investments — 98.2%** <br>**(Cost: $174,327,417)** | 173486044 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 11.4%** | **Money Market Funds — 11.4%** | **Money Market Funds — 11.4%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.01%<sup>(c)(d)(e)</sup><br>| &nbsp;&nbsp; 19193347 | 19206783 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 940000 | 940000 |
| **Total Short-Term Securities — 11.4%** <br>**(Cost: $20,145,760)** | **Total Short-Term Securities — 11.4%** <br>**(Cost: $20,145,760)** | 20146783 |
| **Total Investments — 109.6%** <br>**(Cost: $194,473,177)** | **Total Investments — 109.6%** <br>**(Cost: $194,473,177)** | 193632827 |
| **Liabilities in Excess of Other Assets — (9.6)%** | **Liabilities in Excess of Other Assets — (9.6)%** | (17037329)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $176595498 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

<sup>(e)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2034 Term Corporate ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*05/22/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $—<br> &nbsp;&nbsp; $19206170 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $(410)<br>| $1023 | $19206783 | 19193347 | $5819 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| —<br> &nbsp;&nbsp; 940000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — |  |  | 940000 | 940000 | 8583 | &nbsp;&nbsp; — |
|  |  |  | $(410)<br>| $1023 | $20146783 |  | $14402 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $173486044 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $173486044 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 20146783 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 20146783 |
|  | &nbsp;&nbsp; $20146783 | &nbsp;&nbsp; $173486044 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $193632827 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds Dec 2024 <br> Term Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec 2025 <br> Term Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec 2026 <br> Term Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec 2027 <br> Term Corporate <br> ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $778119108 | $2841024775 | $2875124111 | $2586738250 |
| Investments, at value—affiliated<sup>(c)</sup> | 1456071996 | 281731474 | 149080258 | 184348163 |
| Cash |  | 6959 | 2128531 | 6044 |
| Receivables: |  |  |  |  |
| Investments sold |  |  | 187667 | 9457536 |
| Securities lending income—affiliated | 10492 | 51061 | 29474 | 36668 |
| Capital shares sold |  | 402814 | 159412 | 311665 |
| Dividends—affiliated | 5392827 | 49438 | 119022 | 17142 |
| Interest—unaffiliated | 11934156 | 25806670 | 25302428 | 26192505 |
| Total assets | 2251528579 | 3149073191 | 3052130903 | 2807107973 |
| **LIABILITIES** |  |  |  |  |
| Bank overdraft | 24529 |  |  |  |
| Collateral on securities loaned, at value | 21998125 | 260409308 | 118878128 | 180763892 |
| Payables: |  |  |  |  |
| Investments purchased |  | 8804489 | 5902125 | 7506898 |
| Capital shares redeemed | 9740134 |  |  |  |
| Investment advisory fees | 100620 | 238073 | 243047 | 218350 |
| Due to custodian | 4196585 |  |  |  |
| Total liabilities | 36059993 | 269451870 | 125023300 | 188489140 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $2215468586 | $2879621321 | $2927107603 | $2618618833 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $2215332282 | $2898830426 | $2959540612 | $2642562265 |
| Accumulated earnings (loss) | 136304 | (19209105) | (32433009) | (23943432) |
| NET ASSETS | $2215468586 | $2879621321 | $2927107603 | $2618618833 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 87850000 | 114850000 | 121350000 | 108800000 |
| Net asset value | $25.22 | $25.07 | $24.12 | $24.07 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $778383486 | $2853458000 | $2889509375 | $2592854865 |
| <sup>(b)</sup> Securities loaned, at value | $21140828 | $252363977 | $115795935 | $174576667 |
| <sup>(c)</sup> Investments, at cost—affiliated | $1456047806 | $281614714 | $149022354 | $184276190 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Assets and Liabilities (continued)

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds Dec 2028 <br> Term Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec 2029 <br> Term Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec 2030 <br> Term Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec 2031 <br> Term Corporate <br> ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $2259834746 | $1867293363 | $1380464582 | $1131135718 |
| Investments, at value—affiliated<sup>(c)</sup> | 117267094 | 199827777 | 98281608 | 112650287 |
| Cash | 7656 | 4793 | 10710 | 8481 |
| Receivables: |  |  |  |  |
| Investments sold | 9641268 | 8989804 | 7897460 | 8546598 |
| Securities lending income—affiliated | 22697 | 32869 | 23190 | 22203 |
| Capital shares sold | 122589 | 31143 |  | 216036 |
| Dividends—affiliated | 17346 | 22276 | 18885 | 14344 |
| Interest—unaffiliated | 24649485 | 20699543 | 12755987 | 10099738 |
| Total assets | 2411562881 | 2096901568 | 1499452422 | 1262693405 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value | 110978752 | 194071061 | 94057569 | 112018210 |
| Payables: |  |  |  |  |
| Investments purchased | 7338227 | 7940840 | 9734028 | 7606064 |
| Investment advisory fees | 191649 | 159060 | 116355 | 94520 |
| Total liabilities | 118508628 | 202170961 | 103907952 | 119718794 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $2293054253 | $1894730607 | $1395544470 | $1142974611 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $2300176143 | $1896693014 | $1400832639 | $1134235903 |
| Accumulated earnings (loss) | (7121890) | (1962407) | (5288169) | 8738708 |
| NET ASSETS | $2293054253 | $1894730607 | $1395544470 | $1142974611 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 91400000 | 82400000 | 64700000 | 55400000 |
| Net asset value | $25.09 | $22.99 | $21.57 | $20.63 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $2255227383 | $1856509668 | $1382836455 | $1119188303 |
| <sup>(b)</sup> Securities loaned, at value | $107668623 | $187682086 | $91015567 | $108416356 |
| <sup>(c)</sup> Investments, at cost—affiliated | $117211869 | $199764165 | $98245160 | $112618803 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities (continued)

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2034 Term <br> Corporate <br> ETF <br>|
| **ASSETS** |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $173486044 |
| Investments, at value—affiliated<sup>(c)</sup> | 20146783 |
| Cash | 7876 |
| Receivables: |  |
| Securities lending income—affiliated | 3247 |
| Capital shares sold | 3794 |
| Dividends—affiliated | 3595 |
| Interest—unaffiliated | 2164460 |
| Total assets | 195815799 |
| **LIABILITIES** |  |
| Collateral on securities loaned, at value | 19206170 |
| Payables: |  |
| Investment advisory fees | 14131 |
| Total liabilities | 19220301 |
| **Commitments and contingent liabilities** |  |
| NET ASSETS | $176595498 |
| **NET ASSETS CONSIST OF** |  |
| Paid-in capital | $176714559 |
| Accumulated loss | (119061) |
| NET ASSETS | $176595498 |
| **NET ASSET VALUE** |  |
| Shares outstanding | 6850000 |
| Net asset value | $25.78 |
| Shares authorized | Unlimited |
| Par value |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $174327417 |
| <sup>(b)</sup> Securities loaned, at value | $18462073 |
| <sup>(c)</sup> Investments, at cost—affiliated | $20145760 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds Dec <br> 2024 Term <br> Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2025 Term <br> Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2026 Term <br> Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2027 Term <br> Corporate <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $13315670 | &nbsp;&nbsp;&nbsp; $710280 | &nbsp;&nbsp;&nbsp; $1331382 | &nbsp;&nbsp;&nbsp; $254722 |
| Interest—unaffiliated | &nbsp;&nbsp; 95777645 | &nbsp;&nbsp;&nbsp; 100434182 | &nbsp;&nbsp;&nbsp; 105624625 | &nbsp;&nbsp;&nbsp; 99966237 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 457155 | &nbsp;&nbsp;&nbsp; 437753 | &nbsp;&nbsp;&nbsp; 191738 | &nbsp;&nbsp;&nbsp; 409766 |
| Other income—unaffiliated | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2320 |
| Total investment income | &nbsp;&nbsp; 109550470 | &nbsp;&nbsp;&nbsp; 101582215 | &nbsp;&nbsp;&nbsp; 107147745 | &nbsp;&nbsp;&nbsp; 100633045 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 2615965 | &nbsp;&nbsp;&nbsp; 2596831 | &nbsp;&nbsp;&nbsp; 2514874 | &nbsp;&nbsp;&nbsp; 2232781 |
| Interest expense | &nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 2616347 | &nbsp;&nbsp;&nbsp; 2596831 | &nbsp;&nbsp;&nbsp; 2514874 | &nbsp;&nbsp;&nbsp; 2232781 |
| Less: |  |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; (234436)<br>| &nbsp;&nbsp;&nbsp; (12176)<br>| &nbsp;&nbsp;&nbsp; (22885)<br>| &nbsp;&nbsp;&nbsp; (4380)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 2381911 | &nbsp;&nbsp;&nbsp; 2584655 | &nbsp;&nbsp;&nbsp; 2491989 | &nbsp;&nbsp;&nbsp; 2228401 |
| Net investment income | &nbsp;&nbsp; 107168559 | &nbsp;&nbsp;&nbsp; 98997560 | &nbsp;&nbsp;&nbsp; 104655756 | &nbsp;&nbsp;&nbsp; 98404644 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (434371)<br>| &nbsp;&nbsp;&nbsp; (2600396)<br>| &nbsp;&nbsp;&nbsp; (8293188)<br>| &nbsp;&nbsp;&nbsp; (12998069)<br>|
| Investments—affiliated | &nbsp;&nbsp; 70697 | &nbsp;&nbsp;&nbsp; (10866)<br>| &nbsp;&nbsp;&nbsp; (10835)<br>| &nbsp;&nbsp;&nbsp; (3681)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 262119 | &nbsp;&nbsp;&nbsp; 426201 | &nbsp;&nbsp;&nbsp; 1616061 | &nbsp;&nbsp;&nbsp; 5174354 |
|  | &nbsp;&nbsp; (101555)<br>| &nbsp;&nbsp;&nbsp; (2185061)<br>| &nbsp;&nbsp;&nbsp; (6687962)<br>| &nbsp;&nbsp;&nbsp; (7827396)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 43018235 | &nbsp;&nbsp;&nbsp; 68573178 | &nbsp;&nbsp;&nbsp; 82649464 | &nbsp;&nbsp;&nbsp; 90682165 |
| Investments—affiliated | &nbsp;&nbsp; (50763)<br>| &nbsp;&nbsp;&nbsp; 58296 | &nbsp;&nbsp;&nbsp; 24851 | &nbsp;&nbsp;&nbsp; 34275 |
|  | &nbsp;&nbsp; 42967472 | &nbsp;&nbsp;&nbsp; 68631474 | &nbsp;&nbsp;&nbsp; 82674315 | &nbsp;&nbsp;&nbsp; 90716440 |
| Net realized and unrealized gain | &nbsp;&nbsp; 42865917 | &nbsp;&nbsp;&nbsp; 66446413 | &nbsp;&nbsp;&nbsp; 75986353 | &nbsp;&nbsp;&nbsp; 82889044 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $150034476 | &nbsp;&nbsp;&nbsp; $165443973 | &nbsp;&nbsp;&nbsp; $180642109 | &nbsp;&nbsp;&nbsp; $181293688 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Operations (continued)

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds Dec <br> 2028 Term <br> Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2029 Term <br> Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2030 Term <br> Corporate <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2031 Term <br> Corporate <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $284306 | &nbsp;&nbsp;&nbsp; $220234 | &nbsp;&nbsp;&nbsp; $132099 | &nbsp;&nbsp;&nbsp; $138392 |
| Interest—unaffiliated | &nbsp;&nbsp; 86120943 | &nbsp;&nbsp;&nbsp; 65047593 | &nbsp;&nbsp;&nbsp; 45493806 | &nbsp;&nbsp;&nbsp; 42289922 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 233701 | &nbsp;&nbsp;&nbsp; 261170 | &nbsp;&nbsp;&nbsp; 163630 | &nbsp;&nbsp;&nbsp; 156702 |
| Other income—unaffiliated | &nbsp;&nbsp; 846 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23520 |
| Total investment income | &nbsp;&nbsp; 86639796 | &nbsp;&nbsp;&nbsp; 65528997 | &nbsp;&nbsp;&nbsp; 45789535 | &nbsp;&nbsp;&nbsp; 42608536 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 1785536 | &nbsp;&nbsp;&nbsp; 1314837 | &nbsp;&nbsp;&nbsp; 930282 | &nbsp;&nbsp;&nbsp; 816688 |
| Total expenses | &nbsp;&nbsp; 1785536 | &nbsp;&nbsp;&nbsp; 1314837 | &nbsp;&nbsp;&nbsp; 930282 | &nbsp;&nbsp;&nbsp; 816688 |
| Less: |  |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; (4868)<br>| &nbsp;&nbsp;&nbsp; (3795)<br>| &nbsp;&nbsp;&nbsp; (2277)<br>| &nbsp;&nbsp;&nbsp; (2385)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 1780668 | &nbsp;&nbsp;&nbsp; 1311042 | &nbsp;&nbsp;&nbsp; 928005 | &nbsp;&nbsp;&nbsp; 814303 |
| Net investment income | &nbsp;&nbsp; 84859128 | &nbsp;&nbsp;&nbsp; 64217955 | &nbsp;&nbsp;&nbsp; 44861530 | &nbsp;&nbsp;&nbsp; 41794233 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (1038189)<br>| &nbsp;&nbsp;&nbsp; (12098492)<br>| &nbsp;&nbsp;&nbsp; (1755165)<br>| &nbsp;&nbsp;&nbsp; (5284469)<br>|
| Investments—affiliated | &nbsp;&nbsp; (6359)<br>| &nbsp;&nbsp;&nbsp; (6542)<br>| &nbsp;&nbsp;&nbsp; (9835)<br>| &nbsp;&nbsp;&nbsp; (10264)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 1096161 | &nbsp;&nbsp;&nbsp; 179741 | &nbsp;&nbsp;&nbsp; 2952982 | &nbsp;&nbsp;&nbsp; 569545 |
|  | &nbsp;&nbsp; 51613 | &nbsp;&nbsp;&nbsp; (11925293)<br>| &nbsp;&nbsp;&nbsp; 1187982 | &nbsp;&nbsp;&nbsp; (4725188)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 66558432 | &nbsp;&nbsp;&nbsp; 60363616 | &nbsp;&nbsp;&nbsp; 42147119 | &nbsp;&nbsp;&nbsp; 51586877 |
| Investments—affiliated | &nbsp;&nbsp; 32908 | &nbsp;&nbsp;&nbsp; 46108 | &nbsp;&nbsp;&nbsp; 25270 | &nbsp;&nbsp;&nbsp; 22453 |
|  | &nbsp;&nbsp; 66591340 | &nbsp;&nbsp;&nbsp; 60409724 | &nbsp;&nbsp;&nbsp; 42172389 | &nbsp;&nbsp;&nbsp; 51609330 |
| Net realized and unrealized gain | &nbsp;&nbsp; 66642953 | &nbsp;&nbsp;&nbsp; 48484431 | &nbsp;&nbsp;&nbsp; 43360371 | &nbsp;&nbsp;&nbsp; 46884142 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $151502081 | &nbsp;&nbsp;&nbsp; $112702386 | &nbsp;&nbsp;&nbsp; $88221901 | &nbsp;&nbsp;&nbsp; $88678375 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Operations (continued)

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>iBonds Dec <br> 2034 Term <br> Corporate <br> ETF<sup>(a)</sup> <br>|
| **INVESTMENT INCOME** |  |
| Dividends—affiliated | &nbsp;&nbsp; $8583 |
| Interest—unaffiliated | &nbsp;&nbsp; 2107566 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 5819 |
| Total investment income | &nbsp;&nbsp; 2121968 |
| EXPENSES |  |
| Investment advisory | &nbsp;&nbsp; 40870 |
| Total expenses | &nbsp;&nbsp; 40870 |
| Less: |  |
| Investment advisory fees waived | &nbsp;&nbsp; (151)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 40719 |
| Net investment income | &nbsp;&nbsp; 2081249 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| Net realized gain (loss) from: |  |
| Investments—unaffiliated | &nbsp;&nbsp; 558 |
| Investments—affiliated | &nbsp;&nbsp; (410)<br>|
|  | &nbsp;&nbsp; 148 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments—unaffiliated | &nbsp;&nbsp; (841373)<br>|
| Investments—affiliated | &nbsp;&nbsp; 1023 |
|  | &nbsp;&nbsp; (840350)<br>|
| Net realized and unrealized loss | &nbsp;&nbsp; (840202)<br>|
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $1241047 |
| <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds Dec 2024 Term Corporate ETF  | iShares <br>iBonds Dec 2024 Term Corporate ETF  | iShares <br>iBonds Dec 2025 Term Corporate ETF  | iShares <br>iBonds Dec 2025 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $107168559 | &nbsp;&nbsp;&nbsp; $69367917 | &nbsp;&nbsp;&nbsp; $98997560 | &nbsp;&nbsp;&nbsp; $61253265 |
| Net realized loss | &nbsp;&nbsp; (101555)<br>| &nbsp;&nbsp;&nbsp; (3614763)<br>| &nbsp;&nbsp;&nbsp; (2185061)<br>| &nbsp;&nbsp;&nbsp; (6681694)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 42967472 | &nbsp;&nbsp;&nbsp; 46677895 | &nbsp;&nbsp;&nbsp; 68631474 | &nbsp;&nbsp;&nbsp; 25370555 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 150034476 | &nbsp;&nbsp;&nbsp; 112431049 | &nbsp;&nbsp;&nbsp; 165443973 | &nbsp;&nbsp;&nbsp; 79942126 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (103149052)<br>| &nbsp;&nbsp;&nbsp; (66737959)<br>| &nbsp;&nbsp;&nbsp; (96510202)<br>| &nbsp;&nbsp;&nbsp; (58333438)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (455496721)<br>| &nbsp;&nbsp;&nbsp; 624312797 | &nbsp;&nbsp;&nbsp; 615417730 | &nbsp;&nbsp;&nbsp; 694968959 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (408611297)<br>| &nbsp;&nbsp;&nbsp; 670005887 | &nbsp;&nbsp;&nbsp; 684351501 | &nbsp;&nbsp;&nbsp; 716577647 |
| Beginning of year | &nbsp;&nbsp; 2624079883 | &nbsp;&nbsp;&nbsp; 1954073996 | &nbsp;&nbsp;&nbsp; 2195269820 | &nbsp;&nbsp;&nbsp; 1478692173 |
| End of year | &nbsp;&nbsp; $2215468586 | &nbsp;&nbsp;&nbsp; $2624079883 | &nbsp;&nbsp;&nbsp; $2879621321 | &nbsp;&nbsp;&nbsp; $2195269820 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds Dec 2026 Term Corporate ETF  | iShares <br>iBonds Dec 2026 Term Corporate ETF  | iShares <br>iBonds Dec 2027 Term Corporate ETF  | iShares <br>iBonds Dec 2027 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $104655756 | &nbsp;&nbsp;&nbsp; $52651385 | &nbsp;&nbsp;&nbsp; $98404644 | &nbsp;&nbsp;&nbsp; $49839862 |
| Net realized loss | &nbsp;&nbsp; (6687962)<br>| &nbsp;&nbsp;&nbsp; (14648790)<br>| &nbsp;&nbsp;&nbsp; (7827396)<br>| &nbsp;&nbsp;&nbsp; (4675926)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 82674315 | &nbsp;&nbsp;&nbsp; 24327048 | &nbsp;&nbsp;&nbsp; 90716440 | &nbsp;&nbsp;&nbsp; (5540115)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 180642109 | &nbsp;&nbsp;&nbsp; 62329643 | &nbsp;&nbsp;&nbsp; 181293688 | &nbsp;&nbsp;&nbsp; 39623821 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (100079032)<br>| &nbsp;&nbsp;&nbsp; (50052879)<br>| &nbsp;&nbsp;&nbsp; (94050964)<br>| &nbsp;&nbsp;&nbsp; (47212203)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 1041628421 | &nbsp;&nbsp;&nbsp; 556180725 | &nbsp;&nbsp;&nbsp; 1026197359 | &nbsp;&nbsp;&nbsp; 630909082 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 1122191498 | &nbsp;&nbsp;&nbsp; 568457489 | &nbsp;&nbsp;&nbsp; 1113440083 | &nbsp;&nbsp;&nbsp; 623320700 |
| Beginning of year | &nbsp;&nbsp; 1804916105 | &nbsp;&nbsp;&nbsp; 1236458616 | &nbsp;&nbsp;&nbsp; 1505178750 | &nbsp;&nbsp;&nbsp; 881858050 |
| End of year | &nbsp;&nbsp; $2927107603 | &nbsp;&nbsp;&nbsp; $1804916105 | &nbsp;&nbsp;&nbsp; $2618618833 | &nbsp;&nbsp;&nbsp; $1505178750 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds Dec 2028 Term Corporate ETF  | iShares <br>iBonds Dec 2028 Term Corporate ETF  | iShares <br>iBonds Dec 2029 Term Corporate ETF  | iShares <br>iBonds Dec 2029 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $84859128 | &nbsp;&nbsp;&nbsp; $34421769 | &nbsp;&nbsp;&nbsp; $64217955 | &nbsp;&nbsp;&nbsp; $22462347 |
| Net realized gain (loss) | &nbsp;&nbsp; 51613 | &nbsp;&nbsp;&nbsp; (13630236)<br>| &nbsp;&nbsp;&nbsp; (11925293)<br>| &nbsp;&nbsp;&nbsp; (4530539)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 66591340 | &nbsp;&nbsp;&nbsp; 720852 | &nbsp;&nbsp;&nbsp; 60409724 | &nbsp;&nbsp;&nbsp; (12616219)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 151502081 | &nbsp;&nbsp;&nbsp; 21512385 | &nbsp;&nbsp;&nbsp; 112702386 | &nbsp;&nbsp;&nbsp; 5315589 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (80296136)<br>| &nbsp;&nbsp;&nbsp; (31724298)<br>| &nbsp;&nbsp;&nbsp; (59274481)<br>| &nbsp;&nbsp;&nbsp; (20705841)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 1064223461 | &nbsp;&nbsp;&nbsp; 614743606 | &nbsp;&nbsp;&nbsp; 1124978296 | &nbsp;&nbsp;&nbsp; 448878217 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 1135429406 | &nbsp;&nbsp;&nbsp; 604531693 | &nbsp;&nbsp;&nbsp; 1178406201 | &nbsp;&nbsp;&nbsp; 433487965 |
| Beginning of year | &nbsp;&nbsp; 1157624847 | &nbsp;&nbsp;&nbsp; 553093154 | &nbsp;&nbsp;&nbsp; 716324406 | &nbsp;&nbsp;&nbsp; 282836441 |
| End of year | &nbsp;&nbsp; $2293054253 | &nbsp;&nbsp;&nbsp; $1157624847 | &nbsp;&nbsp;&nbsp; $1894730607 | &nbsp;&nbsp;&nbsp; $716324406 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>iBonds Dec 2030 Term Corporate ETF  | iShares <br>iBonds Dec 2030 Term Corporate ETF  | iShares <br>iBonds Dec 2031 Term Corporate ETF  | iShares <br>iBonds Dec 2031 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $44861530 | &nbsp;&nbsp;&nbsp; $13825256 | &nbsp;&nbsp;&nbsp; $41794233 | &nbsp;&nbsp;&nbsp; $14591119 |
| Net realized gain (loss) | &nbsp;&nbsp; 1187982 | &nbsp;&nbsp;&nbsp; (5544406)<br>| &nbsp;&nbsp;&nbsp; (4725188)<br>| &nbsp;&nbsp;&nbsp; (2137525)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 42172389 | &nbsp;&nbsp;&nbsp; (12235976)<br>| &nbsp;&nbsp;&nbsp; 51609330 | &nbsp;&nbsp;&nbsp; (25490560)<br>|
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 88221901 | &nbsp;&nbsp;&nbsp; (3955126)<br>| &nbsp;&nbsp;&nbsp; 88678375 | &nbsp;&nbsp;&nbsp; (13036966)<br>|
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (41307431)<br>| &nbsp;&nbsp;&nbsp; (12451233)<br>| &nbsp;&nbsp;&nbsp; (38997763)<br>| &nbsp;&nbsp;&nbsp; (12996118)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 854421978 | &nbsp;&nbsp;&nbsp; 325427092 | &nbsp;&nbsp;&nbsp; 617722486 | &nbsp;&nbsp;&nbsp; 398341179 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 901336448 | &nbsp;&nbsp;&nbsp; 309020733 | &nbsp;&nbsp;&nbsp; 667403098 | &nbsp;&nbsp;&nbsp; 372308095 |
| Beginning of year | &nbsp;&nbsp; 494208022 | &nbsp;&nbsp;&nbsp; 185187289 | &nbsp;&nbsp;&nbsp; 475571513 | &nbsp;&nbsp;&nbsp; 103263418 |
| End of year | &nbsp;&nbsp; $1395544470 | &nbsp;&nbsp;&nbsp; $494208022 | &nbsp;&nbsp;&nbsp; $1142974611 | &nbsp;&nbsp;&nbsp; $475571513 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | iShares <br>iBonds Dec <br> 2034 Term <br> Corporate ETF <br>|
|  | Period From <br>05/22/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |
| **OPERATIONS** |  |
| Net investment income | &nbsp;&nbsp; $2081249 |
| Net realized gain | &nbsp;&nbsp; 148 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (840350)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 1241047 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (1360108)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 176714559 |
| *NET ASSETS* |  |
| Total increase in net assets | &nbsp;&nbsp; 176595498 |
| Beginning of period | &nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $176595498 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2024 Term Corporate ETF  | iShares iBonds Dec 2024 Term Corporate ETF  | iShares iBonds Dec 2024 Term Corporate ETF  | iShares iBonds Dec 2024 Term Corporate ETF  | iShares iBonds Dec 2024 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $24.77 | &nbsp;&nbsp;&nbsp; $24.27 | &nbsp;&nbsp;&nbsp; $26.09 | &nbsp;&nbsp;&nbsp; $26.37 | &nbsp;&nbsp;&nbsp; $25.71 |
| Net investment income<sup>(a)</sup> | 1.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 0.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp; (1.83)<br>| &nbsp;&nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.67 |
| Net increase (decrease) from investment operations | 1.43 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp; (1.35)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.37 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp;&nbsp; (0.71)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $25.22 | &nbsp;&nbsp;&nbsp; $24.77 | &nbsp;&nbsp;&nbsp; $24.27 | &nbsp;&nbsp;&nbsp; $26.09 | &nbsp;&nbsp;&nbsp; $26.37 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 5.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.97<br> %<br>| &nbsp;&nbsp;&nbsp; (5.22)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.44<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Total expenses after fees waived | 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Net investment income | 4.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.93<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.88<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.69<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2215469 | &nbsp;&nbsp;&nbsp; $2624080 | &nbsp;&nbsp;&nbsp; $1954074 | &nbsp;&nbsp;&nbsp; $1504316 | &nbsp;&nbsp;&nbsp; $1034878 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

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*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2025 Term Corporate ETF  | iShares iBonds Dec 2025 Term Corporate ETF  | iShares iBonds Dec 2025 Term Corporate ETF  | iShares iBonds Dec 2025 Term Corporate ETF  | iShares iBonds Dec 2025 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $24.39 | &nbsp;&nbsp;&nbsp; $24.04 | &nbsp;&nbsp;&nbsp; $26.64 | &nbsp;&nbsp;&nbsp; $27.05 | &nbsp;&nbsp;&nbsp; $25.95 |
| Net investment income<sup>(a)</sup> | 0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp; (2.57)<br>| &nbsp;&nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.11 |
| Net increase (decrease) from investment operations | 1.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp; (2.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.82 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp;&nbsp; (0.72)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp;&nbsp; (0.72)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $25.07 | &nbsp;&nbsp;&nbsp; $24.39 | &nbsp;&nbsp;&nbsp; $24.04 | &nbsp;&nbsp;&nbsp; $26.64 | &nbsp;&nbsp;&nbsp; $27.05 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 6.73<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.61<br> %<br>| &nbsp;&nbsp;&nbsp; (7.80)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.16<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Total expenses after fees waived | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Net investment income | 3.81<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.92<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.70<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2879621 | &nbsp;&nbsp;&nbsp; $2195270 | &nbsp;&nbsp;&nbsp; $1478692 | &nbsp;&nbsp;&nbsp; $1256130 | &nbsp;&nbsp;&nbsp; $845365 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>| &nbsp;&nbsp;&nbsp; 14<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

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*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2026 Term Corporate ETF  | iShares iBonds Dec 2026 Term Corporate ETF  | iShares iBonds Dec 2026 Term Corporate ETF  | iShares iBonds Dec 2026 Term Corporate ETF  | iShares iBonds Dec 2026 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $23.26 | &nbsp;&nbsp;&nbsp; $22.92 | &nbsp;&nbsp;&nbsp; $26.22 | &nbsp;&nbsp;&nbsp; $26.72 | &nbsp;&nbsp;&nbsp; $25.50 |
| Net investment income<sup>(a)</sup> | 0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp; (3.32)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.22 |
| Net increase (decrease) from investment operations | 1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp; (2.77)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (0.96)<br>| &nbsp;&nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp;&nbsp; (0.74)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $24.12 | &nbsp;&nbsp;&nbsp; $23.26 | &nbsp;&nbsp;&nbsp; $22.92 | &nbsp;&nbsp;&nbsp; $26.22 | &nbsp;&nbsp;&nbsp; $26.72 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 7.97<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.82<br> %<br>| &nbsp;&nbsp;&nbsp; (10.69)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.84<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Total expenses after fees waived | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Net investment income | 4.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.14<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.84<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2927108 | &nbsp;&nbsp;&nbsp; $1804916 | &nbsp;&nbsp;&nbsp; $1236459 | &nbsp;&nbsp;&nbsp; $861418 | &nbsp;&nbsp;&nbsp; $551858 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2027 Term Corporate ETF  | iShares iBonds Dec 2027 Term Corporate ETF  | iShares iBonds Dec 2027 Term Corporate ETF  | iShares iBonds Dec 2027 Term Corporate ETF  | iShares iBonds Dec 2027 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $22.96 | &nbsp;&nbsp;&nbsp; $22.82 | &nbsp;&nbsp;&nbsp; $26.68 | &nbsp;&nbsp;&nbsp; $27.00 | &nbsp;&nbsp;&nbsp; $25.94 |
| Net investment income<sup>(a)</sup> | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 1.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp; (3.92)<br>| &nbsp;&nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.07 |
| Net increase (decrease) from investment operations | 2.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp; (3.25)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;1.84 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp; (0.78)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $24.07 | &nbsp;&nbsp;&nbsp; $22.96 | &nbsp;&nbsp;&nbsp; $22.82 | &nbsp;&nbsp;&nbsp; $26.68 | &nbsp;&nbsp;&nbsp; $27.00 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 9.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.45<br> %<br>| &nbsp;&nbsp;&nbsp; (12.31)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.21<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Total expenses after fees waived | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Net investment income | 4.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.88<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.73<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.18<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.94<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2618619 | &nbsp;&nbsp;&nbsp; $1505179 | &nbsp;&nbsp;&nbsp; $881858 | &nbsp;&nbsp;&nbsp; $522869 | &nbsp;&nbsp;&nbsp; $337505 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2028 Term Corporate ETF  | iShares iBonds Dec 2028 Term Corporate ETF  | iShares iBonds Dec 2028 Term Corporate ETF  | iShares iBonds Dec 2028 Term Corporate ETF  | iShares iBonds Dec 2028 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $23.79 | &nbsp;&nbsp;&nbsp; $23.64 | &nbsp;&nbsp;&nbsp; $28.52 | &nbsp;&nbsp;&nbsp; $28.91 | &nbsp;&nbsp;&nbsp; $27.76 |
| Net investment income<sup>(a)</sup> | 1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 1.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp; (4.94)<br>| &nbsp;&nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 |
| Net increase (decrease) from investment operations | 2.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp; (4.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.99 |
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp;&nbsp; (0.84)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.00 )<sup>(d)</sup><br>|
| Total distributions | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp;&nbsp; (0.84)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $25.09 | &nbsp;&nbsp;&nbsp; $23.79 | &nbsp;&nbsp;&nbsp; $23.64 | &nbsp;&nbsp;&nbsp; $28.52 | &nbsp;&nbsp;&nbsp; $28.91 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 10.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.79<br> %<br>| &nbsp;&nbsp;&nbsp; (14.77)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.33<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Total expenses after fees waived | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Net investment income | 4.75<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.27<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.04<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2293054 | &nbsp;&nbsp;&nbsp; $1157625 | &nbsp;&nbsp;&nbsp; $553093 | &nbsp;&nbsp;&nbsp; $305120 | &nbsp;&nbsp;&nbsp; $206673 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 18<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. | <sup>(d)</sup> Rounds to less than $0.01. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2029 Term Corporate ETF  | iShares iBonds Dec 2029 Term Corporate ETF  | iShares iBonds Dec 2029 Term Corporate ETF  | iShares iBonds Dec 2029 Term Corporate ETF  | iShares iBonds Dec 2029 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Year Ended <br>10/31/20<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $21.58 | &nbsp;&nbsp;&nbsp; $21.59 | &nbsp;&nbsp;&nbsp; $26.48 | &nbsp;&nbsp;&nbsp; $26.88 | &nbsp;&nbsp;&nbsp; $25.53 |
| Net investment income<sup>(a)</sup> | 1.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 1.35 | &nbsp;&nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp;&nbsp; (4.98)<br>| &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.35 |
| Net increase (decrease) from investment operations | 2.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp; (4.23)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;2.05 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.06)<br>| &nbsp;&nbsp;&nbsp; (0.94)<br>| &nbsp;&nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp; (0.70)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $22.99 | &nbsp;&nbsp;&nbsp; $21.58 | &nbsp;&nbsp;&nbsp; $21.59 | &nbsp;&nbsp;&nbsp; $26.48 | &nbsp;&nbsp;&nbsp; $26.88 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.67<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.23<br> %<br>| &nbsp;&nbsp;&nbsp; (16.19)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.17<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Total expenses after fees waived | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| Net investment income | 4.88<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.28<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.69<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $1894731 | &nbsp;&nbsp;&nbsp; $716324 | &nbsp;&nbsp;&nbsp; $282836 | &nbsp;&nbsp;&nbsp; $141681 | &nbsp;&nbsp;&nbsp; $84656 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 21<br> %<br>| &nbsp;&nbsp;&nbsp; 6<br> %<br>| &nbsp;&nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2030 Term Corporate ETF  | iShares iBonds Dec 2030 Term Corporate ETF  | iShares iBonds Dec 2030 Term Corporate ETF  | iShares iBonds Dec 2030 Term Corporate ETF  | iShares iBonds Dec 2030 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Year Ended <br>10/31/21<br>| &nbsp;&nbsp; Period From <br>06/23/20<sup>(a)</sup> <br>to 10/31/20<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $19.97 | &nbsp;&nbsp;&nbsp; $20.13 | &nbsp;&nbsp;&nbsp; $25.16 | &nbsp;&nbsp;&nbsp; $25.56 | &nbsp;&nbsp;&nbsp; $25.17 |
| Net investment income<sup>(b)</sup> | 1.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.56 | &nbsp;&nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp;&nbsp; (5.08)<br>| &nbsp;&nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Net increase (decrease) from investment operations | 2.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp; (4.46)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp; (0.12)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $21.57 | &nbsp;&nbsp;&nbsp; $19.97 | &nbsp;&nbsp;&nbsp; $20.13 | &nbsp;&nbsp;&nbsp; $25.16 | &nbsp;&nbsp;&nbsp; $25.56 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 13.17<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.17<br> %<br>| &nbsp;&nbsp;&nbsp; (17.98)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.03 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10 %<sup>(h)</sup><br>|
| Net investment income | 4.82<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.93 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $1395544 | &nbsp;&nbsp;&nbsp; $494208 | &nbsp;&nbsp;&nbsp; $185187 | &nbsp;&nbsp;&nbsp; $139655 | &nbsp;&nbsp;&nbsp; $35783 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares iBonds Dec 2031 Term Corporate ETF  | iShares iBonds Dec 2031 Term Corporate ETF  | iShares iBonds Dec 2031 Term Corporate ETF  | iShares iBonds Dec 2031 Term Corporate ETF  |
|  | Year Ended <br>10/31/24<br>| &nbsp;&nbsp; Year Ended <br>10/31/23<br>| &nbsp;&nbsp; Year Ended <br>10/31/22<br>| &nbsp;&nbsp; Period From <br>06/22/21<sup>(a)</sup> <br>to 10/31/21<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $18.91 | &nbsp;&nbsp;&nbsp; $19.30 | &nbsp;&nbsp;&nbsp; $24.89 | &nbsp;&nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.68 | &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (5.75)<br>| &nbsp;&nbsp;&nbsp; (0.17)<br>|
| Net increase (decrease) from investment operations | 2.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp; (4.96)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.01)<br>| &nbsp;&nbsp;&nbsp; (0.92)<br>| &nbsp;&nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp;&nbsp; (0.14)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $20.63 | &nbsp;&nbsp;&nbsp; $18.91 | &nbsp;&nbsp;&nbsp; $19.30 | &nbsp;&nbsp;&nbsp; $24.89 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |
| Based on net asset value | 14.65<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.58<br> %<br>| &nbsp;&nbsp;&nbsp; (20.24)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |
| Total expenses | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10 %<sup>(h)</sup><br>|
| Net investment income | 5.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.92<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.72<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.21 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $1142975 | &nbsp;&nbsp;&nbsp; $475572 | &nbsp;&nbsp;&nbsp; $103263 | &nbsp;&nbsp;&nbsp; $16181 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 15<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> iBonds <br> Dec 2034 <br> Term <br> Corporate <br> ETF <br>|
|  | Period <br> From <br>05/22/24 <br>to <br> 10/31/24<sup>(a)</sup> <br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 0.59 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.51 |
| Net increase from investment operations | 1.10 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.32)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.78 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 4.40 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.10 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.10 %<sup>(h)</sup><br>|
| Net investment income | 5.09 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $176595 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 0 %<sup>(j)</sup><br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |
| <sup>(j)</sup> Rounds to less than 0.5%. | <sup>(j)</sup> Rounds to less than 0.5%. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; Diversified |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; Diversified |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; Diversified |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; Diversified |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; Diversified |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; Diversified |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; Diversified |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; Diversified<sup>(a)</sup> <br>|
| iBonds Dec 2034 Term Corporate<sup>(b)</sup> | &nbsp;&nbsp; Non-diversified |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund's classification changed from non-diversified to diversified during the reporting period. <br> <sup>(b)</sup> The Fund commenced operations on May 22, 2024.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that each Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.

***4. SECURITIES AND OTHER INVESTMENTS***

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However,

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| iBonds Dec 2024 Term Corporate |  |  |  |  |
| BMO Capital Markets Corp. | &nbsp;&nbsp; $299611 | &nbsp;&nbsp;&nbsp; $(299611) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 84675 | &nbsp;&nbsp;&nbsp; (84675) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 16378194 | &nbsp;&nbsp;&nbsp; (16378194) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 1040547 | &nbsp;&nbsp;&nbsp; (1040547) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 2187520 | &nbsp;&nbsp;&nbsp; (2187520) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 1150281 | &nbsp;&nbsp;&nbsp; (1150281) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $21140828 | &nbsp;&nbsp;&nbsp; $(21140828) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds Dec 2025 Term Corporate |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $35219330 | &nbsp;&nbsp;&nbsp; $(35219330) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 1424759 | &nbsp;&nbsp;&nbsp; (1424759) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 1321909 | &nbsp;&nbsp;&nbsp; (1321909) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 20362990 | &nbsp;&nbsp;&nbsp; (20362990) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 4987327 | &nbsp;&nbsp;&nbsp; (4987327) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 4599532 | &nbsp;&nbsp;&nbsp; (4599532) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 22424225 | &nbsp;&nbsp;&nbsp; (22424225) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 3189438 | &nbsp;&nbsp;&nbsp; (3189438) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 96193935 | &nbsp;&nbsp;&nbsp; (96193935) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 149970 | &nbsp;&nbsp;&nbsp; (149970) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 51213494 | &nbsp;&nbsp;&nbsp; (51213494) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 998838 | &nbsp;&nbsp;&nbsp; (998838) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 6616450 | &nbsp;&nbsp;&nbsp; (6616450) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 156571 | &nbsp;&nbsp;&nbsp; (156571) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 478574 | &nbsp;&nbsp;&nbsp; (478574) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 2473077 | &nbsp;&nbsp;&nbsp; (2473077) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 553558 | &nbsp;&nbsp;&nbsp; (553558) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $252363977 | &nbsp;&nbsp;&nbsp; $(252363977) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds Dec 2026 Term Corporate |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $17360683 | &nbsp;&nbsp;&nbsp; $(17360683) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 108456 | &nbsp;&nbsp;&nbsp; (108456) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1554410 | &nbsp;&nbsp;&nbsp; (1554410) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 4388457 | &nbsp;&nbsp;&nbsp; (4388457) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 6511795 | &nbsp;&nbsp;&nbsp; (6511795) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 41341255 | &nbsp;&nbsp;&nbsp; (41341255) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 153823 | &nbsp;&nbsp;&nbsp; (153823) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 17394158 | &nbsp;&nbsp;&nbsp; (17394158) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 1139728 | &nbsp;&nbsp;&nbsp; (1139728) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 5801321 | &nbsp;&nbsp;&nbsp; (5801321) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 7489487 | &nbsp;&nbsp;&nbsp; (7489487) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 194357 | &nbsp;&nbsp;&nbsp; (194357) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 7194745 | &nbsp;&nbsp;&nbsp; (7194745) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 2812503 | &nbsp;&nbsp;&nbsp; (2812503) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 1920761 | &nbsp;&nbsp;&nbsp; (1920761) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 429996 | &nbsp;&nbsp;&nbsp; (429996) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $115795935 | &nbsp;&nbsp;&nbsp; $(115795935) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| iBonds Dec 2027 Term Corporate |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $40025943 | &nbsp;&nbsp;&nbsp; $(40025943) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 488748 | &nbsp;&nbsp;&nbsp; (488748) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 11060339 | &nbsp;&nbsp;&nbsp; (11060339) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1227296 | &nbsp;&nbsp;&nbsp; (1227296) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 7416500 | &nbsp;&nbsp;&nbsp; (7416500) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 67412040 | &nbsp;&nbsp;&nbsp; (67412040) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 19673356 | &nbsp;&nbsp;&nbsp; (19673356) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 1267478 | &nbsp;&nbsp;&nbsp; (1267478) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 8627535 | &nbsp;&nbsp;&nbsp; (8627535) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 12549384 | &nbsp;&nbsp;&nbsp; (12549384) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 672192 | &nbsp;&nbsp;&nbsp; (672192) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 2361446 | &nbsp;&nbsp;&nbsp; (2361446) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 538626 | &nbsp;&nbsp;&nbsp; (538626) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 230704 | &nbsp;&nbsp;&nbsp; (230704) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 1025080 | &nbsp;&nbsp;&nbsp; (1025080) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $174576667 | &nbsp;&nbsp;&nbsp; $(174576667) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds Dec 2028 Term Corporate |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $13333294 | &nbsp;&nbsp;&nbsp; $(13333294) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 190354 | &nbsp;&nbsp;&nbsp; (190354) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 844941 | &nbsp;&nbsp;&nbsp; (844941) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 15591691 | &nbsp;&nbsp;&nbsp; (15591691) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 2869508 | &nbsp;&nbsp;&nbsp; (2869508) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 4569153 | &nbsp;&nbsp;&nbsp; (4569153) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA), Inc. | &nbsp;&nbsp; 10782231 | &nbsp;&nbsp;&nbsp; (10782231) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 41442681 | &nbsp;&nbsp;&nbsp; (41442681) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 5561068 | &nbsp;&nbsp;&nbsp; (5561068) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 8145524 | &nbsp;&nbsp;&nbsp; (8145524) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 1178125 | &nbsp;&nbsp;&nbsp; (1178125) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 1779951 | &nbsp;&nbsp;&nbsp; (1779951) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 1380102 | &nbsp;&nbsp;&nbsp; (1380102) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $107668623 | &nbsp;&nbsp;&nbsp; $(107668623) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds Dec 2029 Term Corporate |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $61831981 | &nbsp;&nbsp;&nbsp; $(61831981) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 6631770 | &nbsp;&nbsp;&nbsp; (6631770) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 2991145 | &nbsp;&nbsp;&nbsp; (2991145) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 24957657 | &nbsp;&nbsp;&nbsp; (24957657) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 4472087 | &nbsp;&nbsp;&nbsp; (4472087) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 708667 | &nbsp;&nbsp;&nbsp; (708667) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 6605527 | &nbsp;&nbsp;&nbsp; (6605527) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 45452165 | &nbsp;&nbsp;&nbsp; (45452165) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 502373 | &nbsp;&nbsp;&nbsp; (502373) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 7614459 | &nbsp;&nbsp;&nbsp; (7614459) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 657006 | &nbsp;&nbsp;&nbsp; (657006) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 3534747 | &nbsp;&nbsp;&nbsp; (3534747) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 13325674 | &nbsp;&nbsp;&nbsp; (13325674) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 4013776 | &nbsp;&nbsp;&nbsp; (4013776) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 4383052 | &nbsp;&nbsp;&nbsp; (4383052) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $187682086 | &nbsp;&nbsp;&nbsp; $(187682086) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| iBonds Dec 2030 Term Corporate |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $41118208 | &nbsp;&nbsp;&nbsp; $(41118208) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 3755044 | &nbsp;&nbsp;&nbsp; (3755044) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 536136 | &nbsp;&nbsp;&nbsp; (536136) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 4477797 | &nbsp;&nbsp;&nbsp; (4477797) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 4073362 | &nbsp;&nbsp;&nbsp; (4073362) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1661144 | &nbsp;&nbsp;&nbsp; (1661144) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 16099675 | &nbsp;&nbsp;&nbsp; (16099675) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 931550 | &nbsp;&nbsp;&nbsp; (931550) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 4836600 | &nbsp;&nbsp;&nbsp; (4836600) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 5457279 | &nbsp;&nbsp;&nbsp; (5457279) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 249288 | &nbsp;&nbsp;&nbsp; (249288) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 2377672 | &nbsp;&nbsp;&nbsp; (2377672) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 2868654 | &nbsp;&nbsp;&nbsp; (2868654) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 23145 | &nbsp;&nbsp;&nbsp; (23145) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 2550013 | &nbsp;&nbsp;&nbsp; (2550013) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $91015567 | &nbsp;&nbsp;&nbsp; $(91015567) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds Dec 2031 Term Corporate |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $30626004 | &nbsp;&nbsp;&nbsp; $(30626004) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 5522372 | &nbsp;&nbsp;&nbsp; (5522372) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 2406767 | &nbsp;&nbsp;&nbsp; (2406767) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 4695647 | &nbsp;&nbsp;&nbsp; (4695647) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 7646492 | &nbsp;&nbsp;&nbsp; (7646492) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 3389896 | &nbsp;&nbsp;&nbsp; (3389896) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 31493505 | &nbsp;&nbsp;&nbsp; (31493505) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 358195 | &nbsp;&nbsp;&nbsp; (358195) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 2798408 | &nbsp;&nbsp;&nbsp; (2798408) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 5916769 | &nbsp;&nbsp;&nbsp; (5916769) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 3405252 | &nbsp;&nbsp;&nbsp; (3405252) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 3495204 | &nbsp;&nbsp;&nbsp; (3495204) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 1743686 | &nbsp;&nbsp;&nbsp; (1743686) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 33419 | &nbsp;&nbsp;&nbsp; (33419) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 8887 | &nbsp;&nbsp;&nbsp; (8887) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 1090274 | &nbsp;&nbsp;&nbsp; (1090274) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 3785579 | &nbsp;&nbsp;&nbsp; (3785579) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $108416356 | &nbsp;&nbsp;&nbsp; $(108416356) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| iBonds Dec 2034 Term Corporate |  |  |  |  |
| BMO Capital Markets | &nbsp;&nbsp; $1396980 | &nbsp;&nbsp;&nbsp; $(1396980) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 373693 | &nbsp;&nbsp;&nbsp; (373693) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Securities (USA) Inc | &nbsp;&nbsp; 1907239 | &nbsp;&nbsp;&nbsp; (1907239) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 9076713 | &nbsp;&nbsp;&nbsp; (9076713) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 165964 | &nbsp;&nbsp;&nbsp; (165964) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 1399526 | &nbsp;&nbsp;&nbsp; (1399526) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| TD Prime Services LLC | &nbsp;&nbsp; 302215 | &nbsp;&nbsp;&nbsp; (302215) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank, National Association | &nbsp;&nbsp; 56024 | &nbsp;&nbsp;&nbsp; (56024) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 3783719 | &nbsp;&nbsp;&nbsp; (3783719) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $18462073 | &nbsp;&nbsp;&nbsp; $(18462073) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each Fund, BFA is entitled to an annual investment advisory fee of 0.10%, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund.

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statements of Operations does not include acquired fund fees and expenses.

BFA has contractually agreed to waive a portion of its investment advisory fee for each Fund through the termination date of such Fund, in an amount equal to acquired fund fees and expenses, if any, attributable to each Fund's investments in other funds advised by BFA or its affiliates.

These amounts are included in investment advisory fees waived in the Statements of Operations. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $234436 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 12176 |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 22885 |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 4380 |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 4868 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 3795 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 2277 |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 2385 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 151 |

---

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**ETF Servicing Fees:** Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units ("ETF Services"). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. The Funds do not pay BRIL for ETF Services.

Prior to January 26, 2024 (date of conversion for respective funds), ETF Services were performed by State Street Bank and Trust Company.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $142572 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 151253 |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 71836 |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 127963 |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 84133 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 100462 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 59771 |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 57719 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 2244 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $58004702 | &nbsp;&nbsp;&nbsp; $2023122552 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 89853160 | &nbsp;&nbsp;&nbsp; 131266863 |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 213447197 | &nbsp;&nbsp;&nbsp; 212736464 |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 309613924 | &nbsp;&nbsp;&nbsp; 256723405 |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 73022465 | &nbsp;&nbsp;&nbsp; 44512665 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 386116740 | &nbsp;&nbsp;&nbsp; 276766959 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 58857567 | &nbsp;&nbsp;&nbsp; 34980150 |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 160795390 | &nbsp;&nbsp;&nbsp; 130717278 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 14766320 | &nbsp;&nbsp;&nbsp; 90547 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $376486766 | &nbsp;&nbsp;&nbsp; $628868918 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 698508003 | &nbsp;&nbsp;&nbsp; 106106063 |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 1136368466 | &nbsp;&nbsp;&nbsp; 131438449 |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 1109251558 | &nbsp;&nbsp;&nbsp; 156124525 |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 1035642872 | &nbsp;&nbsp;&nbsp; 23202003 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 1004054939 | &nbsp;&nbsp;&nbsp; 8650448 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 873648730 | &nbsp;&nbsp;&nbsp; 58261061 |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 577613872 | &nbsp;&nbsp;&nbsp; 6944576 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 159653466 | &nbsp;&nbsp;&nbsp; — |

---

***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $260965 | &nbsp;&nbsp;&nbsp; $(260965) |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 426201 | &nbsp;&nbsp;&nbsp; (426201) |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 1616061 | &nbsp;&nbsp;&nbsp; (1616061) |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 5174351 | &nbsp;&nbsp;&nbsp; (5174351) |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 1096161 | &nbsp;&nbsp;&nbsp; (1096161) |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 179741 | &nbsp;&nbsp;&nbsp; (179741) |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 2952982 | &nbsp;&nbsp;&nbsp; (2952982) |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 569545 | &nbsp;&nbsp;&nbsp; (569545) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*10/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*10/31/23*<br>|
| iBonds Dec 2024 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $103149052 | &nbsp;&nbsp;&nbsp; $66737959 |
| iBonds Dec 2025 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $96510202 | &nbsp;&nbsp;&nbsp; $58333438 |
| iBonds Dec 2026 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $100079032 | &nbsp;&nbsp;&nbsp; $50052879 |
| iBonds Dec 2027 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $94050964 | &nbsp;&nbsp;&nbsp; $47212203 |
| iBonds Dec 2028 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $80296136 | &nbsp;&nbsp;&nbsp; $31724298 |
| iBonds Dec 2029 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $59274481 | &nbsp;&nbsp;&nbsp; $20705841 |
| iBonds Dec 2030 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $41307431 | &nbsp;&nbsp;&nbsp; $12451233 |
| iBonds Dec 2031 Term Corporate |  |  |
| Ordinary income | &nbsp;&nbsp; $38997763 | &nbsp;&nbsp;&nbsp; $12996118 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *iShares ETF* | *Period Ended* <br>*10/31/24*<br>|
| iBonds Dec 2034 Term Corporate |  |
| Ordinary income | &nbsp;&nbsp; $1360108 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $9563600 | &nbsp;&nbsp;&nbsp; $(9085290) | &nbsp;&nbsp;&nbsp; $(342006) | &nbsp;&nbsp;&nbsp; $136304 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 9516056 | &nbsp;&nbsp;&nbsp; (14846446) | &nbsp;&nbsp;&nbsp; (13878715) | &nbsp;&nbsp;&nbsp; (19209105) |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 10658584 | &nbsp;&nbsp;&nbsp; (27777063) | &nbsp;&nbsp;&nbsp; (15314530) | &nbsp;&nbsp;&nbsp; (32433009) |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 9841730 | &nbsp;&nbsp;&nbsp; (27180476) | &nbsp;&nbsp;&nbsp; (6604686) | &nbsp;&nbsp;&nbsp; (23943432) |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 9108584 | &nbsp;&nbsp;&nbsp; (20571934) | &nbsp;&nbsp;&nbsp; 4341460 | &nbsp;&nbsp;&nbsp; (7121890) |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 7825341 | &nbsp;&nbsp;&nbsp; (20549277) | &nbsp;&nbsp;&nbsp; 10761529 | &nbsp;&nbsp;&nbsp; (1962407) |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 5543865 | &nbsp;&nbsp;&nbsp; (8373941) | &nbsp;&nbsp;&nbsp; (2458093) | &nbsp;&nbsp;&nbsp; (5288169) |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 4846149 | &nbsp;&nbsp;&nbsp; (8011174) | &nbsp;&nbsp;&nbsp; 11903733 | &nbsp;&nbsp;&nbsp; 8738708 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 723049 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (842110) | &nbsp;&nbsp;&nbsp; (119061) |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and amortization methods for premiums and discounts on fixed income securities. 

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $2234533110 | &nbsp;&nbsp;&nbsp; $145561 | &nbsp;&nbsp;&nbsp; $(487567) | &nbsp;&nbsp;&nbsp; $(342006) |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 3136634964 | &nbsp;&nbsp;&nbsp; 3326016 | &nbsp;&nbsp;&nbsp; (17204731) | &nbsp;&nbsp;&nbsp; (13878715) |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 3039518899 | &nbsp;&nbsp;&nbsp; 7034976 | &nbsp;&nbsp;&nbsp; (22349506) | &nbsp;&nbsp;&nbsp; (15314530) |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 2777691099 | &nbsp;&nbsp;&nbsp; 9796903 | &nbsp;&nbsp;&nbsp; (16401589) | &nbsp;&nbsp;&nbsp; (6604686) |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 2372760380 | &nbsp;&nbsp;&nbsp; 14285937 | &nbsp;&nbsp;&nbsp; (9944477) | &nbsp;&nbsp;&nbsp; 4341460 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 2056359611 | &nbsp;&nbsp;&nbsp; 15265209 | &nbsp;&nbsp;&nbsp; (4503680) | &nbsp;&nbsp;&nbsp; 10761529 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 1481204283 | &nbsp;&nbsp;&nbsp; 5761290 | &nbsp;&nbsp;&nbsp; (8219383) | &nbsp;&nbsp;&nbsp; (2458093) |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 1231882272 | &nbsp;&nbsp;&nbsp; 13950796 | &nbsp;&nbsp;&nbsp; (2047063) | &nbsp;&nbsp;&nbsp; 11903733 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 194474937 | &nbsp;&nbsp;&nbsp; 448026 | &nbsp;&nbsp;&nbsp; (1290136) | &nbsp;&nbsp;&nbsp; (842110) |

---

***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund's portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.

Certain Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as "junk bonds") or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

Certain Funds invest a significant portion of their assets within the financials sector. Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, changes in government regulations, economic conditions, and interest rates, credit rating downgrades, adverse public perception, exposure concentration and decreased liquidity in credit markets. The impact of changes in capital requirements and recent or future regulation on any individual financial company, or on the financials sector as a whole, cannot be predicted, but may negatively impact the Funds.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>10/31/24 | Year Ended <br>10/31/24 | Year Ended <br>10/31/23 | Year Ended <br>10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| iBonds Dec 2024 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 19750000 | &nbsp;&nbsp;&nbsp; $494440080 | &nbsp;&nbsp;&nbsp; 31750000 | &nbsp;&nbsp;&nbsp; $778882666 |
| Shares redeemed | &nbsp;&nbsp; (37850000)<br>| &nbsp;&nbsp;&nbsp; (949936801)<br>| &nbsp;&nbsp;&nbsp; (6300000)<br>| &nbsp;&nbsp;&nbsp; (154569869)<br>|
|  | &nbsp;&nbsp; (18100000)<br>| &nbsp;&nbsp;&nbsp; $(455496721)<br>| &nbsp;&nbsp;&nbsp; 25450000 | &nbsp;&nbsp;&nbsp; $624312797 |
| iBonds Dec 2025 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 29250000 | &nbsp;&nbsp;&nbsp; $724563692 | &nbsp;&nbsp;&nbsp; 32950000 | &nbsp;&nbsp;&nbsp; $803506535 |
| Shares redeemed | &nbsp;&nbsp; (4400000)<br>| &nbsp;&nbsp;&nbsp; (109145962)<br>| &nbsp;&nbsp;&nbsp; (4450000)<br>| &nbsp;&nbsp;&nbsp; (108537576)<br>|
|  | &nbsp;&nbsp; 24850000 | &nbsp;&nbsp;&nbsp; $615417730 | &nbsp;&nbsp;&nbsp; 28500000 | &nbsp;&nbsp;&nbsp; $694968959 |
| iBonds Dec 2026 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 49400000 | &nbsp;&nbsp;&nbsp; $1176180470 | &nbsp;&nbsp;&nbsp; 30800000 | &nbsp;&nbsp;&nbsp; $722102669 |
| Shares redeemed | &nbsp;&nbsp; (5650000)<br>| &nbsp;&nbsp;&nbsp; (134552049)<br>| &nbsp;&nbsp;&nbsp; (7150000)<br>| &nbsp;&nbsp;&nbsp; (165921944)<br>|
|  | &nbsp;&nbsp; 43750000 | &nbsp;&nbsp;&nbsp; $1041628421 | &nbsp;&nbsp;&nbsp; 23650000 | &nbsp;&nbsp;&nbsp; $556180725 |
| iBonds Dec 2027 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 49800000 | &nbsp;&nbsp;&nbsp; $1184624299 | &nbsp;&nbsp;&nbsp; 32600000 | &nbsp;&nbsp;&nbsp; $764720882 |
| Shares redeemed | &nbsp;&nbsp; (6550000)<br>| &nbsp;&nbsp;&nbsp; (158426940)<br>| &nbsp;&nbsp;&nbsp; (5700000)<br>| &nbsp;&nbsp;&nbsp; (133811800)<br>|
|  | &nbsp;&nbsp; 43250000 | &nbsp;&nbsp;&nbsp; $1026197359 | &nbsp;&nbsp;&nbsp; 26900000 | &nbsp;&nbsp;&nbsp; $630909082 |
| iBonds Dec 2028 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 43700000 | &nbsp;&nbsp;&nbsp; $1088080193 | &nbsp;&nbsp;&nbsp; 27800000 | &nbsp;&nbsp;&nbsp; $677899175 |
| Shares redeemed | &nbsp;&nbsp; (950000)<br>| &nbsp;&nbsp;&nbsp; (23856732)<br>| &nbsp;&nbsp;&nbsp; (2550000)<br>| &nbsp;&nbsp;&nbsp; (63155569)<br>|
|  | &nbsp;&nbsp; 42750000 | &nbsp;&nbsp;&nbsp; $1064223461 | &nbsp;&nbsp;&nbsp; 25250000 | &nbsp;&nbsp;&nbsp; $614743606 |
| iBonds Dec 2029 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 49600000 | &nbsp;&nbsp;&nbsp; $1133794653 | &nbsp;&nbsp;&nbsp; 20600000 | &nbsp;&nbsp;&nbsp; $459739399 |
| Shares redeemed | &nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; (8816357)<br>| &nbsp;&nbsp;&nbsp; (500000)<br>| &nbsp;&nbsp;&nbsp; (10861182)<br>|
|  | &nbsp;&nbsp; 49200000 | &nbsp;&nbsp;&nbsp; $1124978296 | &nbsp;&nbsp;&nbsp; 20100000 | &nbsp;&nbsp;&nbsp; $448878217 |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> 10/31/24 | Year Ended<br> 10/31/24 | Year Ended<br> 10/31/23 | Year Ended<br> 10/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| iBonds Dec 2030 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 42800000 | &nbsp;&nbsp;&nbsp; $915268232 | &nbsp;&nbsp;&nbsp; 16200000 | &nbsp;&nbsp;&nbsp; $338572570 |
| Shares redeemed | &nbsp;&nbsp; (2850000)<br>| &nbsp;&nbsp;&nbsp; (60846254)<br>| &nbsp;&nbsp;&nbsp; (650000)<br>| &nbsp;&nbsp;&nbsp; (13145478)<br>|
|  | &nbsp;&nbsp; 39950000 | &nbsp;&nbsp;&nbsp; $854421978 | &nbsp;&nbsp;&nbsp; 15550000 | &nbsp;&nbsp;&nbsp; $325427092 |
| iBonds Dec 2031 Term Corporate |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 30600000 | &nbsp;&nbsp;&nbsp; $624929738 | &nbsp;&nbsp;&nbsp; 19800000 | &nbsp;&nbsp;&nbsp; $398341179 |
| Shares redeemed | &nbsp;&nbsp; (350000)<br>| &nbsp;&nbsp;&nbsp; (7207252)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 30250000 | &nbsp;&nbsp;&nbsp; $617722486 | &nbsp;&nbsp;&nbsp; 19800000 | &nbsp;&nbsp;&nbsp; $398341179 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Period Ended <br>10/31/24<sup>(a)</sup>  | Period Ended <br>10/31/24<sup>(a)</sup>  |
| *iShares ETF* | *Shares* | *Amount* |
| iBonds Dec 2034 Term Corporate |  |  |
| Shares sold | &nbsp;&nbsp; 6850000 | &nbsp;&nbsp;&nbsp; $176714559 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on May 22, 2024.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management's evaluation of the impact of all subsequent events on the Funds' financial statements was completed through the date the financial statements were available to be issued and the following item was noted:

**Planned Fund Liquidation:** In accordance with its prospectus and its investment objective, the iShares iBonds Dec 2024 Term Corporate ETF ceased trading after the close of business on December 16, 2024, when all of the bonds included in the Fund's underlying index matured. Proceeds of the liquidation were sent to shareholders on December 19, 2024.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the nine funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (nine of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares iBonds Dec 2024 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2025 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2026 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2027 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2028 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2029 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2030 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2031 Term Corporate ETF<sup>(1)</sup> <br>|
| iShares iBonds Dec 2034 Term Corporate ETF<sup>(2)</sup> <br>|

---

<sup>(1)</sup> Statement of operations for the year ended October 31, 2024 and statement of changes in net assets for each of the two years in the period ended October 31, 2024

<sup>(2)</sup> Statement of operations and statement of changes in net assets for the period May 22, 2024 (commencement of operations) through October 31, 2024

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

------

Important Tax Information (unaudited)

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $1867552 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 110380 |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 209182 |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 40345 |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 45131 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 34909 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 20515 |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 21740 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 1295 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $104867957 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 98993173 |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 104743954 |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 98177885 |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 84649385 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 63978671 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 44724309 |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 41634609 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 2077338 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| iBonds Dec 2024 Term Corporate | &nbsp;&nbsp; $86755513 |
| iBonds Dec 2025 Term Corporate | &nbsp;&nbsp; 82936463 |
| iBonds Dec 2026 Term Corporate | &nbsp;&nbsp; 85960274 |
| iBonds Dec 2027 Term Corporate | &nbsp;&nbsp; 85569368 |
| iBonds Dec 2028 Term Corporate | &nbsp;&nbsp; 70755264 |
| iBonds Dec 2029 Term Corporate | &nbsp;&nbsp; 57478596 |
| iBonds Dec 2030 Term Corporate | &nbsp;&nbsp; 38282348 |
| iBonds Dec 2031 Term Corporate | &nbsp;&nbsp; 38103476 |
| iBonds Dec 2034 Term Corporate | &nbsp;&nbsp; 1842234 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares iBonds Dec 2024 Term Corporate ETF, iShares iBonds Dec 2025 Term Corporate ETF, iShares iBonds Dec 2027 Term Corporate ETF, iShares iBonds Dec 2028 Term Corporate ETF, iShares iBonds Dec 2029 Term Corporate ETF, iShares iBonds Dec 2030 Term Corporate ETF, iShares iBonds Dec 2031 Term Corporate ETF (each the "Fund")** 

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:**The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:**The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:**The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:**The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:**The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares iBonds Dec 2026 Term Corporate ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract (continued)

securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares iBonds Dec 2034 Term Corporate ETF**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required to consider the approval of the proposed Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the terms of the proposed Advisory Agreement. At a meeting held on March 4-5, 2024, the Board, including the Independent Board Members, approved the selection of BFA as investment adviser and approved the proposed Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA. The Board also considered information previously provided by BFA, BlackRock Institutional Trust Company, N.A. ("BTC"), and BlackRock, Inc. ("BlackRock"), as applicable, at prior Board meetings. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses of the Fund; (ii) the nature, extent and quality of the services to be provided by BFA; (iii) the costs of services to be provided to the Fund and the availability of information related to profits to be realized by BFA and its affiliates; (iv) potential economies of scale; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the Advisory Agreement are discussed below.

**Expenses of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances.

The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level of the Fund supported the Board's approval of the Advisory Agreement.

**Nature, Extent and Quality of Services to be Provided by BFA:** The Board reviewed the scope of services to be provided by BFA under the Advisory Agreement. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time and have made significant investments into the iShares business to support the iShares funds and their shareholders. The Board considered representations by BFA, BTC, and BlackRock that the scope and quality of services to be provided to the Fund would be similar to the scope and quality of services provided to other iShares funds. The Board also considered BFA's compliance program and its compliance record with respect to other iShares funds including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons who will be responsible for the day-to-day management of the Fund, as well as the resources that will be available to them in managing the Fund. The Board also considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies, which were provided throughout the year with respect to other iShares funds, and other matters related to BFA's portfolio compliance program and other compliance programs and services.

Based on review of this information, the Board concluded that the nature, extent and quality of services to be provided to the Fund under the Advisory Agreement supported the Board's approval of the Advisory Agreement.

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

**Costs of Services to be Provided to the Fund and Profits to be Realized by BFA and Affiliates:** The Board did not consider the profitability of the Fund to BFA based on the fees payable under the Advisory Agreement or revenue to be received by BFA or its affiliates in connection with services to be provided to the Fund since the proposed relationship had not yet commenced. The Board noted that it expects to receive profitability information from BFA periodically following the Fund's launch and will thus be in a position to evaluate whether any new or additional breakpoints or other adjustments in Fund fees would be appropriate.

**Economies of Scale:** The Board considered information that it had previously received regarding potential economies of scale, efficiencies and scale benefits shared with the iShares funds through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for any breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

This consideration of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the Advisory Agreement.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the "Other Accounts"). The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board further noted that BFA previously provided the Board with detailed information regarding how the Other Accounts (particularly institutional clients) generally differ from the iShares funds, including in terms of the different and generally more extensive services provided to the iShares funds, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement.

**Other Benefits to BFA and/or its Affiliates:** Except as noted below, the Board did not consider the "fallout" benefits or ancillary revenue to be received by BFA and/or its affiliates in connection with the services to be provided to the Fund by BFA since the proposed relationship had not yet commenced. However, the Board considered the potential payment of advisory fees and/or administration fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services and/or administration services. The Board further considered other direct benefits that might accrue to BFA, including the potential for reduction in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also noted the potential revenue to be received by BFA and/or its affiliates pursuant to an agreement that would permit a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board also considered the potential for revenue to BTC, the Fund's securities lending agent, and its affiliates in the event of any loaning of portfolio securities of the Fund. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that will be provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the Advisory Agreement.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including a majority of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services to be rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the Advisory Agreement.

2024 iShares Annual Financial Statements and Additional Information

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Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| REIT | Real Estate Investment Trust |

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Glossary of Terms Used in this Report

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services, Limited, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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October 31, 2024

![](g938995img597f79d81.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **iShares Trust** |
| • iShares iBonds Dec 2030 Term Muni Bond ETF \| IBMS \| Cboe BZX Exchange |

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**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | Page |
| [Schedule of Investments](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statement of Assets and Liabilities](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 8 |
| [Statement of Operations](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 9 |
| [Statement of Changes in Net Assets](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 10 |
| [Financial Highlights](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 11 |
| [Notes to Financial Statements](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 12 |
| [Report of Independent Registered Public Accounting Firm](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 17 |
| [Important Tax Information](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 18 |
| [Additional Information](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 19 |
| [Board Review and Approval of Investment Advisory Contract](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 20 |
| [Glossary of Terms Used in this Report](#xx_b0cf5551-d747-473e-9fe2-0eb087cca6ff_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 22 |

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Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2030 Term Muni Bond ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Municipal Debt Obligations** | **Municipal Debt Obligations** | **Municipal Debt Obligations** |
| **Alabama — 0.3%** | **Alabama — 0.3%** | **Alabama — 0.3%** |
| Alabama Public School and College Authority RB, <br> Series A, 5.00%, 11/01/30<br>| &nbsp;&nbsp; $30 | $33242 |
| **Arizona — 0.4%** | **Arizona — 0.4%** | **Arizona — 0.4%** |
| Arizona Board of Regents RB, 5.00%, 07/01/30 | &nbsp;&nbsp; 15 | 16667 |
| Maricopa County Union High School District No. <br> 210-Phoenix GO, 5.00%, 07/01/30<br>| &nbsp;&nbsp; 25 | 27766 |
|  |  | 44433 |
| **California — 7.6%** | **California — 7.6%** | **California — 7.6%** |
| California State Public Works Board RB |  |  |
| 3.00%, 05/01/30 | &nbsp;&nbsp; 15 | 14823 |
| 5.00%, 02/01/30 | &nbsp;&nbsp; 50 | 55394 |
| City of Palo Alto CA COP, 3.00%, 11/01/30 | &nbsp;&nbsp; 20 | 19600 |
| Los Angeles Department of Water & Power Water System <br> Revenue RB, 5.00%, 07/01/30<br>| &nbsp;&nbsp; 45 | 50346 |
| Los Angeles Unified School District/California GO, <br> Series B-1, 5.00%, 07/01/30<br>| &nbsp;&nbsp; 85 | 90648 |
| Poway Unified School District GO, 0.00%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp; 100 | 83622 |
| Rancho Santiago Community College District GO, 0.00%, <br> 09/01/30 (AGM)<sup>(a)</sup><br>| &nbsp;&nbsp; 50 | 41281 |
| San Diego Unified School District/California GO, 5.00%, <br> 07/01/30<br>| &nbsp;&nbsp; 35 | 39631 |
| San Francisco Bay Area Rapid Transit District GO, 5.00%, <br> 08/01/30<br>| &nbsp;&nbsp; 30 | 33225 |
| San Jose Evergreen Community College District GO, <br> 0.00%, 09/01/30 (AGM)<sup>(a)</sup><br>| &nbsp;&nbsp; 40 | 33368 |
| Simi Valley Unified School District GO, 0.00%, 08/01/30 <br> (AGM)<sup>(a)</sup><br>| &nbsp;&nbsp; 40 | 33376 |
| State of California GO |  |  |
| 5.00%, 03/01/30 | &nbsp;&nbsp; 25 | 27765 |
| 5.00%, 03/01/30 | &nbsp;&nbsp; 115 | 126096 |
| 5.00%, 04/01/30 | &nbsp;&nbsp; 40 | 44472 |
| 5.00%, 08/01/30 | &nbsp;&nbsp; 50 | 53741 |
| 5.00%, 09/01/30 | &nbsp;&nbsp; 20 | 22349 |
| 5.00%, 10/01/30 | &nbsp;&nbsp; 15 | 16778 |
| 5.00%, 10/01/30 | &nbsp;&nbsp; 15 | 16436 |
| 5.00%, 11/01/30 | &nbsp;&nbsp; 135 | 150644 |
| 5.00%, 12/01/30 | &nbsp;&nbsp; 15 | 16812 |
|  |  | 970407 |
| **Colorado — 1.1%** | **Colorado — 1.1%** | **Colorado — 1.1%** |
| City & County of Denver Co. Airport System Revenue RB, <br> 5.00%, 11/15/30<br>| &nbsp;&nbsp; 25 | 27805 |
| City of Colorado Springs Co. Utilities System Revenue RB, <br> 5.00%, 11/15/30<br>| &nbsp;&nbsp; 60 | 67024 |
| Denver City & County School District No. 1 GO, 5.00%, <br> 12/01/30 (SAW)<br>| &nbsp;&nbsp; 40 | 44478 |
|  |  | 139307 |
| **Connecticut — 1.8%** | **Connecticut — 1.8%** | **Connecticut — 1.8%** |
| State of Connecticut GO |  |  |
| 4.00%, 01/15/30 | &nbsp;&nbsp; 50 | 52587 |
| 5.00%, 01/15/30 | &nbsp;&nbsp; 25 | 27493 |
| 5.00%, 09/15/30 | &nbsp;&nbsp; 15 | 16616 |
| 5.00%, 11/15/30 | &nbsp;&nbsp; 35 | 38841 |
| State of Connecticut Special Tax Revenue RB |  |  |
| 5.00%, 11/01/30 | &nbsp;&nbsp; 50 | 55463 |
| Series B, 5.00%, 10/01/30 | &nbsp;&nbsp; 30 | 32181 |
|  |  | 223181 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Delaware — 1.6%** | **Delaware — 1.6%** | **Delaware — 1.6%** |
| Delaware Transportation Authority RB |  |  |
| 5.00%, 07/01/30 | &nbsp;&nbsp; $50 | $54686 |
| 5.00%, 09/01/30 | &nbsp;&nbsp; 15 | 16525 |
| State of Delaware GO, 4.00%, 01/01/30 | &nbsp;&nbsp; 120 | 125804 |
|  |  | 197015 |
| **District of Columbia — 2.5%** | **District of Columbia — 2.5%** | **District of Columbia — 2.5%** |
| District of Columbia GO, 5.00%, 06/01/30 | &nbsp;&nbsp; 50 | 53598 |
| District of Columbia Income Tax Revenue RB |  |  |
| 5.00%, 03/01/30 | &nbsp;&nbsp; 105 | 114789 |
| 5.00%, 05/01/30 | &nbsp;&nbsp; 65 | 71007 |
| Washington Metropolitan Area Transit Authority Dedicated <br> Revenue RB, 5.00%, 07/15/30<br>| &nbsp;&nbsp; 75 | 82984 |
|  |  | 322378 |
| **Florida — 5.5%** | **Florida — 5.5%** | **Florida — 5.5%** |
| Central Florida Expressway Authority RB, 5.00%, 07/01/30 <br> (AGM)<br>| &nbsp;&nbsp; 55 | 61049 |
| City of Jacksonville Florida RB, 5.00%, 10/01/30 | &nbsp;&nbsp; 100 | 110904 |
| County of Miami-Dade Florida Aviation Revenue RB, <br> 4.00%, 10/01/30<br>| &nbsp;&nbsp; 40 | 40602 |
| County of Miami-Dade Florida GO, 4.00%, 07/01/30 | &nbsp;&nbsp; 65 | 67351 |
| County of Orange Florida Water Utility System Revenue <br> RB, 5.00%, 10/01/30<br>| &nbsp;&nbsp; 15 | 16687 |
| JEA Water & Sewer System Revenue RB, 5.00%, <br> 10/01/30<br>| &nbsp;&nbsp; 50 | 55510 |
| School District of Broward County/Florida COP, 5.00%, <br> 07/01/30<br>| &nbsp;&nbsp; 55 | 59934 |
| State of Florida Department of Transportation RB, 5.00%, <br> 07/01/30<br>| &nbsp;&nbsp; 50 | 55389 |
| State of Florida Department of Transportation Turnpike <br> System Revenue RB, 5.00%, 07/01/30<br>| &nbsp;&nbsp; 115 | 127331 |
| State of Florida GO |  |  |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 55 | 60573 |
| 5.00%, 07/01/30 | &nbsp;&nbsp; 40 | 44599 |
|  |  | 699929 |
| **Georgia — 2.5%** | **Georgia — 2.5%** | **Georgia — 2.5%** |
| City of Atlanta Georgia Department of Aviation RB, 5.00%, <br> 07/01/30<br>| &nbsp;&nbsp; 20 | 22154 |
| Georgia State Road & Tollway Authority RB, 5.00%, <br> 06/01/30<br>| &nbsp;&nbsp; 85 | 93947 |
| Municipal Electric Authority of Georgia RB, 5.00%, <br> 01/01/30<br>| &nbsp;&nbsp; 60 | 65449 |
| Private Colleges & Universities Authority RB, 5.00%, <br> 09/01/30<br>| &nbsp;&nbsp; 50 | 55746 |
| State of Georgia GO, 5.00%, 08/01/30 | &nbsp;&nbsp; 75 | 82967 |
|  |  | 320263 |
| **Hawaii — 0.2%** | **Hawaii — 0.2%** | **Hawaii — 0.2%** |
| City & County of Honolulu Hawaii GO, 5.00%, 09/01/30 | &nbsp;&nbsp; 25 | 26809 |
| **Illinois — 3.1%** | **Illinois — 3.1%** | **Illinois — 3.1%** |
| Illinois Finance Authority RB, 5.00%, 01/01/30 | &nbsp;&nbsp; 45 | 49470 |
| Illinois State Toll Highway Authority RB |  |  |
| 5.00%, 01/01/30 | &nbsp;&nbsp; 45 | 49244 |
| 5.00%, 01/01/30 | &nbsp;&nbsp; 15 | 15868 |
| Sales Tax Securitization Corp. RB, Series A, 5.00%, <br> 01/01/30<br>| &nbsp;&nbsp; 75 | 81670 |
| State of Illinois GO |  |  |
| 5.00%, 07/01/30 | &nbsp;&nbsp; 15 | 16234 |
| 5.00%, 12/01/30 | &nbsp;&nbsp; 70 | 76000 |
| Series B, 5.00%, 10/01/30 | &nbsp;&nbsp; 100 | 105092 |
|  |  | 393578 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Muni Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Indiana — 2.3%** | **Indiana — 2.3%** | **Indiana — 2.3%** |
| City of Indianapolis Department of Public Utilities Water <br> System Revenue RB, 5.00%, 10/01/30<br>| &nbsp;&nbsp; $45 | $48002 |
| Indiana Finance Authority RB |  |  |
| 5.00%, 02/01/30 | &nbsp;&nbsp; 35 | 37970 |
| 5.00%, 10/01/30 | &nbsp;&nbsp; 90 | 100124 |
| Indiana University RB |  |  |
| 5.00%, 08/01/30 | &nbsp;&nbsp; 35 | 38965 |
| 5.00%, 08/01/30 | &nbsp;&nbsp; 35 | 38685 |
| Purdue University RB, 5.00%, 07/01/30 | &nbsp;&nbsp; 20 | 22140 |
|  |  | 285886 |
| **Iowa — 0.4%** | **Iowa — 0.4%** | **Iowa — 0.4%** |
| Iowa Finance Authority RB, 5.00%, 08/01/30 | &nbsp;&nbsp; 45 | 48264 |
| **Kentucky — 0.5%** | **Kentucky — 0.5%** | **Kentucky — 0.5%** |
| Kentucky Turnpike Authority RB, 5.00%, 07/01/30 | &nbsp;&nbsp; 55 | 61015 |
| **Louisiana — 0.6%** | **Louisiana — 0.6%** | **Louisiana — 0.6%** |
| State of Louisiana Gasoline & Fuels Tax Revenue RB, <br> 5.00%, 05/01/30<br>| &nbsp;&nbsp; 50 | 55154 |
| State of Louisiana GO, 5.00%, 04/01/30 | &nbsp;&nbsp; 15 | 16610 |
|  |  | 71764 |
| **Maine — 1.0%** | **Maine — 1.0%** | **Maine — 1.0%** |
| Maine Municipal Bond Bank RB |  |  |
| 5.00%, 09/01/30 | &nbsp;&nbsp; 40 | 44386 |
| 5.00%, 11/01/30 | &nbsp;&nbsp; 25 | 27864 |
| Maine Turnpike Authority RB, 5.00%, 07/01/30 | &nbsp;&nbsp; 15 | 16631 |
| State of Maine GO, 5.00%, 06/01/30 | &nbsp;&nbsp; 40 | 44375 |
|  |  | 133256 |
| **Maryland — 4.5%** | **Maryland — 4.5%** | **Maryland — 4.5%** |
| County of Anne Arundel Maryland GOL, 5.00%, 10/01/30 | &nbsp;&nbsp; 25 | 27419 |
| County of Baltimore Maryland GO, 5.00%, 03/01/30 | &nbsp;&nbsp; 50 | 55224 |
| County of Frederick Maryland GO, 5.00%, 10/01/30 | &nbsp;&nbsp; 45 | 50376 |
| County of Montgomery Maryland GO |  |  |
| 4.00%, 11/01/30 | &nbsp;&nbsp; 45 | 47752 |
| 5.00%, 08/01/30 | &nbsp;&nbsp; 50 | 55919 |
| Maryland State Transportation Authority RB, 5.00%, <br> 07/01/30<br>| &nbsp;&nbsp; 50 | 55244 |
| State of Maryland Department of Transportation RB, <br> 5.00%, 10/01/30<br>| &nbsp;&nbsp; 95 | 103808 |
| State of Maryland GO, Series A, 5.00%, 08/01/30 | &nbsp;&nbsp; 85 | 94354 |
| Washington Suburban Sanitary Commission RB, 5.00%, <br> 12/01/30 (GTD)<br>| &nbsp;&nbsp; 75 | 83655 |
|  |  | 573751 |
| **Massachusetts — 1.1%** | **Massachusetts — 1.1%** | **Massachusetts — 1.1%** |
| Commonwealth of Massachusetts GOL |  |  |
| 5.00%, 05/01/30 | &nbsp;&nbsp; 15 | 16651 |
| 5.00%, 07/01/30 | &nbsp;&nbsp; 55 | 61170 |
| Series E, 5.00%, 11/01/30 | &nbsp;&nbsp; 50 | 55821 |
|  |  | 133642 |
| **Michigan — 1.0%** | **Michigan — 1.0%** | **Michigan — 1.0%** |
| State of Michigan Trunk Line Revenue RB, 5.00%, <br> 11/15/30<br>| &nbsp;&nbsp; 20 | 22153 |
| State of Michigan Trunk Line Revenue RB BAB, 5.00%, <br> 11/15/30<br>| &nbsp;&nbsp; 35 | 39050 |
| University of Michigan RB, 5.00%, 04/01/30 | &nbsp;&nbsp; 65 | 71308 |
|  |  | 132511 |
| **Minnesota — 3.4%** | **Minnesota — 3.4%** | **Minnesota — 3.4%** |
| County of Hennepin Minnesota GO, 5.00%, 12/01/30 | &nbsp;&nbsp; 35 | 39217 |
| Metropolitan Council GO, 5.00%, 03/01/30 | &nbsp;&nbsp; 145 | 160611 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Minnesota (continued)** | **Minnesota (continued)** | **Minnesota (continued)** |
| Minneapolis-St Paul Metropolitan Airports Commission RB, <br> 5.00%, 01/01/30<br>| &nbsp;&nbsp; $50 | $54816 |
| Minnesota Public Facilities Authority State Revolving Fund <br> RB, 5.00%, 03/01/30<br>| &nbsp;&nbsp; 80 | 88825 |
| State of Minnesota GO, 5.00%, 08/01/30 | &nbsp;&nbsp; 25 | 27532 |
| University of Minnesota RB, 5.00%, 08/01/30 | &nbsp;&nbsp; 50 | 55524 |
|  |  | 426525 |
| **Mississippi — 1.0%** | **Mississippi — 1.0%** | **Mississippi — 1.0%** |
| State of Mississippi GO |  |  |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 30 | 33207 |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 85 | 93511 |
|  |  | 126718 |
| **Missouri — 0.4%** | **Missouri — 0.4%** | **Missouri — 0.4%** |
| Missouri Joint Municipal Electric Utility Commission RB, <br> 5.00%, 01/01/30<br>| &nbsp;&nbsp; 50 | 54234 |
| **Nebraska — 0.4%** | **Nebraska — 0.4%** | **Nebraska — 0.4%** |
| City of Lincoln Nebraska Electric System Revenue RB, <br> 5.00%, 03/01/30<br>| &nbsp;&nbsp; 50 | 54481 |
| **Nevada — 1.5%** | **Nevada — 1.5%** | **Nevada — 1.5%** |
| Clark County School District GOL, 5.00%, 06/15/30 (BAM) | &nbsp;&nbsp; 25 | 27683 |
| County of Clark Nevada GOL |  |  |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 40 | 43477 |
| 5.00%, 12/01/30 | &nbsp;&nbsp; 15 | 16107 |
| County of Clark Nevada RB, 5.00%, 07/01/30 | &nbsp;&nbsp; 40 | 44206 |
| Las Vegas Valley Water District GOL, 5.00%, 06/01/30 | &nbsp;&nbsp; 25 | 27713 |
| State of Nevada GOL, 5.00%, 05/01/30 | &nbsp;&nbsp; 30 | 33256 |
|  |  | 192442 |
| **New Hampshire — 0.9%** | **New Hampshire — 0.9%** | **New Hampshire — 0.9%** |
| New Hampshire Municipal Bond Bank RB, 5.00%, <br> 08/15/30<br>| &nbsp;&nbsp; 80 | 89135 |
| State of New Hampshire GO, 5.00%, 12/01/30 | &nbsp;&nbsp; 20 | 22420 |
|  |  | 111555 |
| **New Jersey — 1.5%** | **New Jersey — 1.5%** | **New Jersey — 1.5%** |
| New Jersey Economic Development Authority RB, 5.00%, <br> 11/01/30<br>| &nbsp;&nbsp; 40 | 43824 |
| New Jersey Transportation Trust Fund Authority RB, <br> 5.00%, 06/15/30<br>| &nbsp;&nbsp; 55 | 60089 |
| State of New Jersey GO, Series A, 4.00%, 06/01/30 | &nbsp;&nbsp; 85 | 89491 |
|  |  | 193404 |
| **New Mexico — 1.0%** | **New Mexico — 1.0%** | **New Mexico — 1.0%** |
| New Mexico Finance Authority RB, 5.00%, 06/01/30 | &nbsp;&nbsp; 40 | 44275 |
| State of New Mexico Severance Tax Permanent Fund RB, <br> 5.00%, 07/01/30<br>| &nbsp;&nbsp; 75 | 83092 |
|  |  | 127367 |
| **New York — 9.7%** | **New York — 9.7%** | **New York — 9.7%** |
| City of New York GO |  |  |
| 5.00%, 08/01/30 | &nbsp;&nbsp; 70 | 76973 |
| 5.00%, 10/01/30 | &nbsp;&nbsp; 20 | 22163 |
| Series C, 5.00%, 08/01/30 | &nbsp;&nbsp; 35 | 38367 |
| Series C-1, 5.00%, 08/01/30 | &nbsp;&nbsp; 145 | 158345 |
| Empire State Development Corp. RB |  |  |
| 5.00%, 03/15/30 | &nbsp;&nbsp; 50 | 55420 |
| 5.00%, 09/15/30 | &nbsp;&nbsp; 90 | 99344 |
| Metropolitan Transportation Authority RB |  |  |
| 5.00%, 11/15/30 | &nbsp;&nbsp; 25 | 27704 |
| 5.00%, 11/15/30 | &nbsp;&nbsp; 50 | 52638 |

---

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Muni Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| New York City Transitional Finance Authority Future Tax <br> Secured Revenue RB<br>|  |  |
| 5.00%, 05/01/30 | &nbsp;&nbsp; $35 | $38724 |
| 5.00%, 11/01/30 | &nbsp;&nbsp; 35 | 38936 |
| 5.00%, 11/01/30 | &nbsp;&nbsp; 105 | 115200 |
| New York State Dormitory Authority RB |  |  |
| 5.00%, 03/15/30 | &nbsp;&nbsp; 15 | 16014 |
| 5.00%, 07/01/30 | &nbsp;&nbsp; 15 | 16167 |
| 5.00%, 09/15/30 | &nbsp;&nbsp; 55 | 60900 |
| 5.00%, 10/01/30 (BAM) | &nbsp;&nbsp; 110 | 121524 |
| Series D, 5.00%, 02/15/30 | &nbsp;&nbsp; 130 | 141757 |
| New York State Thruway Authority RB, 5.00%, 03/15/30 | &nbsp;&nbsp; 40 | 44168 |
| Port Authority of New York & New Jersey RB |  |  |
| 5.00%, 07/15/30 | &nbsp;&nbsp; 30 | 33069 |
| Series 209TH, 5.00%, 07/15/30 | &nbsp;&nbsp; 45 | 47859 |
| Triborough Bridge & Tunnel Authority RB, Series A, 0.00%, <br> 11/15/30<sup>(a)</sup><br>| &nbsp;&nbsp; 30 | 24183 |
|  |  | 1229455 |
| **North Carolina — 2.9%** | **North Carolina — 2.9%** | **North Carolina — 2.9%** |
| City of Charlotte North Carolina COP, 5.00%, 06/01/30 | &nbsp;&nbsp; 85 | 92589 |
| City of Charlotte North Carolina GO, 5.00%, 07/01/30 | &nbsp;&nbsp; 75 | 83743 |
| City of Charlotte North Carolina Water & Sewer System <br> Revenue RB<br>|  |  |
| 5.00%, 07/01/30 | &nbsp;&nbsp; 60 | 66994 |
| 5.00%, 07/01/30 | &nbsp;&nbsp; 15 | 16411 |
| County of Johnston North Carolina RB, 5.00%, 04/01/30 | &nbsp;&nbsp; 30 | 32925 |
| State of North Carolina RB, 5.00%, 03/01/30 | &nbsp;&nbsp; 70 | 75757 |
|  |  | 368419 |
| **Ohio — 2.0%** | **Ohio — 2.0%** | **Ohio — 2.0%** |
| Ohio State University (The) RB, 5.00%, 12/01/30 | &nbsp;&nbsp; 100 | 112116 |
| Ohio Water Development Authority RB, 5.00%, 12/01/30 | &nbsp;&nbsp; 25 | 28032 |
| Ohio Water Development Authority Water Pollution Control <br> Loan Fund RB<br>|  |  |
| 5.00%, 12/01/30 | &nbsp;&nbsp; 25 | 27673 |
| 5.25%, 12/01/30 | &nbsp;&nbsp; 60 | 67133 |
| State of Ohio RB, 5.00%, 12/01/30 | &nbsp;&nbsp; 20 | 22264 |
|  |  | 257218 |
| **Oklahoma — 2.2%** | **Oklahoma — 2.2%** | **Oklahoma — 2.2%** |
| Oklahoma Municipal Power Authority RB, 5.00%, 01/01/30 <br> (AGM)<br>| &nbsp;&nbsp; 30 | 32799 |
| Oklahoma Turnpike Authority RB, 5.00%, 01/01/30 | &nbsp;&nbsp; 95 | 104388 |
| Oklahoma Water Resources Board RB |  |  |
| 5.00%, 04/01/30 | &nbsp;&nbsp; 100 | 110885 |
| 5.00%, 10/01/30 | &nbsp;&nbsp; 30 | 33459 |
|  |  | 281531 |
| **Oregon — 0.3%** | **Oregon — 0.3%** | **Oregon — 0.3%** |
| City of Portland OR Sewer System Revenue RB, 4.00%, <br> 09/01/30<br>| &nbsp;&nbsp; 40 | 41545 |
| **Pennsylvania — 2.4%** | **Pennsylvania — 2.4%** | **Pennsylvania — 2.4%** |
| City of Philadelphia PA GO, 5.00%, 02/01/30 | &nbsp;&nbsp; 50 | 54044 |
| Commonwealth of Pennsylvania GO |  |  |
| 4.00%, 05/01/30 | &nbsp;&nbsp; 80 | 83070 |
| 5.00%, 05/01/30 | &nbsp;&nbsp; 35 | 38569 |
| Pennsylvania Turnpike Commission RB, 5.00%, 12/01/30 | &nbsp;&nbsp; 75 | 82966 |
| Pittsburgh Water & Sewer Authority RB |  |  |
| 5.00%, 09/01/30 | &nbsp;&nbsp; 25 | 27319 |
| 5.00%, 09/01/30 (AGM) | &nbsp;&nbsp; 20 | 22192 |
|  |  | 308160 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Rhode Island — 1.2%** | **Rhode Island — 1.2%** | **Rhode Island — 1.2%** |
| Rhode Island Commerce Corp. RB, 5.00%, 05/15/30 | &nbsp;&nbsp; $85 | $92314 |
| State of Rhode Island GO, 5.00%, 12/01/30 | &nbsp;&nbsp; 50 | 55843 |
|  |  | 148157 |
| **Tennessee — 2.1%** | **Tennessee — 2.1%** | **Tennessee — 2.1%** |
| City of Memphis Tennessee Electric System Revenue RB, <br> 5.00%, 12/01/30<br>| &nbsp;&nbsp; 50 | 55722 |
| City of Memphis Tennessee GO, 5.00%, 12/01/30 | &nbsp;&nbsp; 50 | 55748 |
| City of Memphis Tennessee Sanitary Sewerage System <br> Revenue RB, 5.00%, 10/01/30<br>| &nbsp;&nbsp; 40 | 44298 |
| County of Montgomery Tennessee GO, 5.00%, 06/01/30 | &nbsp;&nbsp; 30 | 32832 |
| Metropolitan Government of Nashville & Davidson County <br> Tennessee Water & Sewer Revenue RB, 5.00%, <br> 07/01/30<br>| &nbsp;&nbsp; 35 | 38824 |
| State of Tennessee GO, 5.00%, 11/01/30 | &nbsp;&nbsp; 30 | 33619 |
|  |  | 261043 |
| **Texas — 13.7%** | **Texas — 13.7%** | **Texas — 13.7%** |
| Austin Independent School District GO |  |  |
| 5.00%, 08/01/30 | &nbsp;&nbsp; 20 | 22163 |
| 5.00%, 08/01/30 (PSF) | &nbsp;&nbsp; 45 | 49797 |
| Central Texas Regional Mobility Authority RB, 5.00%, <br> 01/01/30<br>| &nbsp;&nbsp; 100 | 108342 |
| City of Austin Texas GOL, 5.00%, 09/01/30 | &nbsp;&nbsp; 55 | 60469 |
| City of Austin Texas Water & Wastewater System Revenue <br> RB, 5.00%, 11/15/30<br>| &nbsp;&nbsp; 25 | 27719 |
| City of Dallas Texas GOL, 5.00%, 02/15/30 | &nbsp;&nbsp; 25 | 27432 |
| City of Frisco Texas GOL, 5.00%, 02/15/30 | &nbsp;&nbsp; 80 | 88316 |
| City of Irving Texas GOL, 5.00%, 09/15/30 | &nbsp;&nbsp; 15 | 16695 |
| City of Lubbock Texas GOL, 5.00%, 02/15/30 | &nbsp;&nbsp; 30 | 32995 |
| Clear Creek Independent School District GO, 5.00%, <br> 02/15/30 (PSF)<br>| &nbsp;&nbsp; 15 | 16538 |
| Conroe Independent School District GO, 3.00%, 02/15/30 <br> (PSF)<br>| &nbsp;&nbsp; 100 | 97335 |
| County of Bexar Texas RB, 4.00%, 08/15/30 | &nbsp;&nbsp; 20 | 20500 |
| County of Harris Texas GOL, 5.00%, 08/15/30 | &nbsp;&nbsp; 40 | 44547 |
| County of Harris Texas Toll Road Revenue RB |  |  |
| 4.00%, 08/15/30 | &nbsp;&nbsp; 50 | 51368 |
| 5.00%, 08/15/30 | &nbsp;&nbsp; 15 | 16639 |
| Dallas Fort Worth International Airport RB |  |  |
| 5.00%, 11/01/30 | &nbsp;&nbsp; 115 | 127179 |
| 5.00%, 11/01/30 | &nbsp;&nbsp; 30 | 33058 |
| Fort Worth Independent School District GO, 5.00%, <br> 02/15/30 (PSF)<br>| &nbsp;&nbsp; 50 | 55151 |
| Grand Parkway Transportation Corp. RB, Series A, 5.00%, <br> 10/01/30<br>| &nbsp;&nbsp; 30 | 31970 |
| Harris County Flood Control District GOL, 5.00%, <br> 10/01/30<br>| &nbsp;&nbsp; 75 | 81893 |
| Lewisville Independent School District GO, 5.00%, <br> 08/15/30 (PSF)<br>| &nbsp;&nbsp; 35 | 38727 |
| North Texas Municipal Water District Water System <br> Revenue RB, 4.00%, 09/01/30<br>| &nbsp;&nbsp; 60 | 62965 |
| North Texas Tollway Authority RB |  |  |
| 0.00%, 01/01/30 (AGC)<sup>(a)</sup> | &nbsp;&nbsp; 145 | 121890 |
| 5.00%, 01/01/30 | &nbsp;&nbsp; 20 | 21188 |
| Pasadena Independent School District GO, 5.00%, <br> 02/15/30 (PSF)<br>| &nbsp;&nbsp; 35 | 38606 |
| Pflugerville Independent School District GO, 5.00%, <br> 02/15/30 (PSF)<br>| &nbsp;&nbsp; 40 | 43773 |
| Plano Independent School District GO, 5.00%, 02/15/30 | &nbsp;&nbsp; 30 | 32995 |
| Round Rock Independent School District GO, 5.00%, <br> 08/01/30 (PSF)<br>| &nbsp;&nbsp; 25 | 26644 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Muni Bond ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| San Antonio Independent School District/Texas GO, <br> 5.00%, 08/15/30 (PSF)<br>| &nbsp;&nbsp; $25 | $27690 |
| Spring Branch Independent School District GO, 5.00%, <br> 02/01/30 (PSF)<br>| &nbsp;&nbsp; 30 | 33046 |
| Tarrant County College District GOL, 4.00%, 08/15/30 | &nbsp;&nbsp; 40 | 41325 |
| Texas Department of Transportation State Highway Fund <br> RB, 5.00%, 10/01/30<br>| &nbsp;&nbsp; 20 | 22250 |
| Texas Water Development Board RB, 5.00%, 08/01/30 | &nbsp;&nbsp; 155 | 170009 |
| Trinity River Authority Central Regional Wastewater <br> System Revenue RB, 5.00%, 08/01/30<br>| &nbsp;&nbsp; 25 | 27281 |
| Wylie Independent School District GO, 4.00%, 08/15/30 <br> (PSF)<br>| &nbsp;&nbsp; 25 | 26153 |
|  |  | 1744648 |
| **Utah — 0.6%** | **Utah — 0.6%** | **Utah — 0.6%** |
| University of Utah (The) RB, 5.00%, 08/01/30 | &nbsp;&nbsp; 70 | 76974 |
| **Vermont — 0.2%** | **Vermont — 0.2%** | **Vermont — 0.2%** |
| Vermont Municipal Bond Bank RB, 5.00%, 12/01/30 | &nbsp;&nbsp; 20 | 22337 |
| **Virginia — 3.2%** | **Virginia — 3.2%** | **Virginia — 3.2%** |
| County of Arlington VA GO, 5.00%, 08/15/30 | &nbsp;&nbsp; 15 | 16153 |
| Fairfax County Water Authority RB, 5.00%, 04/01/30 | &nbsp;&nbsp; 15 | 16392 |
| Hampton Roads Transportation Accountability Commission <br> RB, 5.00%, 07/01/30<br>| &nbsp;&nbsp; 15 | 16474 |
| Virginia College Building Authority RB, 5.00%, 02/01/30 | &nbsp;&nbsp; 110 | 121016 |
| Virginia Commonwealth Transportation Board RB, 4.00%, <br> 09/15/30<br>| &nbsp;&nbsp; 50 | 51671 |
| Virginia Public Building Authority RB, 5.00%, 08/01/30 | &nbsp;&nbsp; 70 | 77003 |
| Virginia Public School Authority RB, 4.00%, 10/01/30 <br> (SAW)<br>| &nbsp;&nbsp; 50 | 52836 |
| Virginia Resources Authority RB, 5.00%, 11/01/30 | &nbsp;&nbsp; 45 | 50417 |
|  |  | 401962 |
| **Washington — 6.8%** | **Washington — 6.8%** | **Washington — 6.8%** |
| City of Seattle Washington Drainage & Wastewater <br> Revenue RB, 4.00%, 09/01/30<br>| &nbsp;&nbsp; 30 | 31699 |
| City of Tacoma Washington GOL, 5.00%, 12/01/30 | &nbsp;&nbsp; 30 | 33470 |
| Clark County School District No. 114 Evergreen GO, <br> 4.00%, 06/01/30 (GTD)<br>| &nbsp;&nbsp; 45 | 46802 |
| County of King Washington GOL, 5.00%, 12/01/30 | &nbsp;&nbsp; 25 | 27928 |
| County of King Washington Sewer Revenue RB, 4.00%, <br> 01/01/30<br>| &nbsp;&nbsp; 75 | 77771 |
| County of Snohomish Washington GOL, 5.00%, 12/01/30 | &nbsp;&nbsp; 15 | 16735 |
| Energy Northwest RB, 4.00%, 07/01/30 | &nbsp;&nbsp; 110 | 115868 |
| Grant County Public Utility District No. 2 Priest Rapids <br> Hydroelectric Project RB, 5.00%, 01/01/30<br>| &nbsp;&nbsp; 25 | 27532 |
| Pierce County School District No. 10 Tacoma GO, 5.00%, <br> 12/01/30 (GTD)<br>| &nbsp;&nbsp; 145 | 161774 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Washington (continued)** | **Washington (continued)** | **Washington (continued)** |
| Port of Seattle Washington RB, 5.00%, 03/01/30 | &nbsp;&nbsp; $100 | $109824 |
| State of Washington GO |  |  |
| 0.00%, 06/01/30 (NPFGC)<sup>(a)</sup> | &nbsp;&nbsp; 25 | 20872 |
| 5.00%, 02/01/30 | &nbsp;&nbsp; 90 | 98790 |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 20 | 22155 |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 40 | 43790 |
| 5.00%, 08/01/30 | &nbsp;&nbsp; 15 | 16451 |
| University of Washington RB, 5.00%, 04/01/30 | &nbsp;&nbsp; 15 | 16470 |
|  |  | 867931 |
| **West Virginia — 0.4%** | **West Virginia — 0.4%** | **West Virginia — 0.4%** |
| State of West Virginia GO |  |  |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 35 | 38828 |
| 5.00%, 06/01/30 | &nbsp;&nbsp; 15 | 16244 |
|  |  | 55072 |
| **Wisconsin — 2.1%** | **Wisconsin — 2.1%** | **Wisconsin — 2.1%** |
| Milwaukee Metropolitan Sewerage District GO, 5.00%, <br> 10/01/30<br>| &nbsp;&nbsp; 40 | 44391 |
| State of Wisconsin GO, 5.00%, 05/01/30 | &nbsp;&nbsp; 120 | 133134 |
| Wisconsin Department of Transportation RB, 5.00%, <br> 07/01/30<br>| &nbsp;&nbsp; 75 | 83535 |
|  |  | 261060 |
| **Total Long-Term Investments — 97.9%** <br>**(Cost: $12,481,284)** | **Total Long-Term Investments — 97.9%** <br>**(Cost: $12,481,284)** | 12422869 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.9%** | **Money Market Funds — 0.9%** | **Money Market Funds — 0.9%** |
| BlackRock Liquidity Funds: MuniCash, 3.19%<sup>(b)(c)</sup> | &nbsp;&nbsp; 112739 | 112750 |
| **Total Short-Term Securities — 0.9%** <br>**(Cost: $112,750)** | **Total Short-Term Securities — 0.9%** <br>**(Cost: $112,750)** | 112750 |
| **Total Investments — 98.8%** <br>**(Cost: $12,594,034)** | **Total Investments — 98.8%** <br>**(Cost: $12,594,034)** | 12535619 |
| **Other Assets Less Liabilities — 1.2%** | **Other Assets Less Liabilities — 1.2%** | 155363 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $12690982 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Zero-coupon bond. <br> <sup>(b)</sup> Affiliate of the Fund. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

Schedule of Investments

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2030 Term Muni Bond ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*05/22/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds: MuniCash | $—<br> &nbsp;&nbsp; $112750 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $112750 | 112739 | $596 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| Municipal Debt Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12422869 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12422869 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 112750 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 112750 |
|  | &nbsp;&nbsp; $112750 | &nbsp;&nbsp; $12422869 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12535619 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statement of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2030 Term <br> Muni Bond <br> ETF <br>|
| **ASSETS** |  |
| Investments, at value—unaffiliated<sup>(a)</sup> | $12422869 |
| Investments, at value—affiliated<sup>(b)</sup> | 112750 |
| Receivables: |  |
| Dividends—affiliated | 316 |
| Interest—unaffiliated | 156564 |
| Total assets | 12692499 |
| **LIABILITIES** |  |
| Payables: |  |
| Investment advisory fees | 1517 |
| Total liabilities | 1517 |
| **Commitments and contingent liabilities** |  |
| NET ASSETS | $12690982 |
| **NET ASSETS CONSIST OF** |  |
| Paid-in capital | $12727583 |
| Accumulated loss | (36601) |
| NET ASSETS | $12690982 |
| **NET ASSET VALUE** |  |
| Shares outstanding | 500000 |
| Net asset value | $25.38 |
| Shares authorized | Unlimited |
| Par value |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $12481284 |
| <sup>(b)</sup> Investments, at cost—affiliated | $112750 |

---

*See notes to financial statements.*

Statement of Assets and Liabilities

------

Statement of Operations

Year Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>iBonds <br> Dec 2030 <br> Term <br> Muni <br> Bond <br> ETF<sup>(a)</sup> <br>|
| **INVESTMENT INCOME** |  |
| Dividends—affiliated | &nbsp;&nbsp; $596 |
| Interest—unaffiliated | &nbsp;&nbsp; 67557 |
| Total investment income | &nbsp;&nbsp; 68153 |
| EXPENSES |  |
| Investment advisory | &nbsp;&nbsp; 4215 |
| Total expenses | &nbsp;&nbsp; 4215 |
| Net investment income | &nbsp;&nbsp; 63938 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| Net realized gain (loss) from: |  |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments—unaffiliated | &nbsp;&nbsp; (58415)<br>|
|  | &nbsp;&nbsp; (58415)<br>|
| Net realized and unrealized loss | &nbsp;&nbsp; (58415)<br>|
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $5523 |
| <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from May 22, 2024 (commencement of operations) to October 31, 2024. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>iBonds Dec <br> 2030 Term <br> Muni Bond <br> ETF <br>|
|  | Period From <br>05/22/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |
| **OPERATIONS** |  |
| Net investment income | &nbsp;&nbsp; $63938 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (58415)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 5523 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (42124)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 12727583 |
| *NET ASSETS* |  |
| Total increase in net assets | &nbsp;&nbsp; 12690982 |
| Beginning of period | &nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $12690982 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statement of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> iBonds <br> Dec 2030 <br> Term <br> Muni <br> Bond <br> ETF <br>|
|  | Period <br> From <br>05/22/24<sup>(a)</sup> <br>to <br> 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 0.31 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.28 |
| Net increase from investment operations | 0.59 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.21)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.38 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 2.37 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.18 %<sup>(h)</sup><br>|
| Net investment income | 2.73 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $12691 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 0<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following fund (the "Fund"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> iBonds Dec 2030 Term Muni Bond<sup>(a)</sup> Non-diversified

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on May 22, 2024.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. The Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Fund. Because such gains or losses are not taxable to the Fund and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Fund's tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by the Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Fund.

**Indemnifications:** In the normal course of business, the Fund enters into contracts that contain a variety of representations that provide general indemnification. The Fund's maximum exposure under these arrangements is unknown because it involves future potential claims against the Fund, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** The Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Company (the "Board") of the Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Fund's investment adviser, as the valuation designee for the Fund. The Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of the Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that the Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.

***4. SECURITIES AND OTHER INVESTMENTS***

**Zero-Coupon Bonds:** Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of the Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Fund, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the Fund, BFA is entitled to an annual investment advisory fee of 0.18%, accrued daily and paid monthly by the Funds, based on the average daily net assets of the Fund.

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for the Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Fund.

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** The Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statement of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Purchases* |
| iBonds Dec 2030 Term Muni Bond | &nbsp;&nbsp; $12510768 |

---

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

There were no in-kind transactions for the year ended October 31, 2024.

***7. INCOME TAX INFORMATION***

The Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is the Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Fund as of October 31, 2024 and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Fund's financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Fund's NAV.

The tax character of distributions paid was as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Period Ended* <br>*10/31/24*<br>|
| iBonds Dec 2030 Term Muni Bond |  |
| Tax-exempt income | &nbsp;&nbsp; $42105 |
| Ordinary income | &nbsp;&nbsp; 19 |
|  | &nbsp;&nbsp; $42124 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<br>| *Total* |
| iBonds Dec 2030 Term Muni Bond | &nbsp;&nbsp; $21814 | &nbsp;&nbsp;&nbsp; $(58415) | &nbsp;&nbsp;&nbsp; $(36601) |

---

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| iBonds Dec 2030 Term Muni Bond | &nbsp;&nbsp; $12594034 | &nbsp;&nbsp;&nbsp; $27818 | &nbsp;&nbsp;&nbsp; $(86233) | &nbsp;&nbsp;&nbsp; $(58415) |

---

***8. PRINCIPAL RISKS***

In the normal course of business, the Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Fund and its investments. The Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve the Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

**Market Risk:** The Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force the Fund to reinvest in lower yielding securities. The Fund may also be exposed to reinvestment risk, which is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below the Fund portfolio's current earnings rate.

Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer's ability to make payments of principal and/or interest or otherwise affect the value of such securities. Municipal securities can be significantly affected by political or economic changes, including changes made in the law after issuance of the securities, as well as uncertainties in the municipal market related to, taxation, legislative changes or the rights of municipal security holders, including in connection with an issuer insolvency. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the tax benefits supporting the project or assets or the inability to collect revenues for the project or from the assets. Municipal securities may be less liquid than taxable bonds, and there may be less publicly available information on the financial condition of municipal security issuers than for issuers of other securities.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Counterparty Credit Risk:** The Fund may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Fund manages counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Fund to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Fund's exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statement of Assets and Liabilities, less any collateral held by the Fund.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within the Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

The Funds invest a significant portion of its assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Fund may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Fund's performance.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by the Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of the Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | |
|:---|:---|:---|
|  | Period Ended <br>10/31/24<sup>(a)</sup>  | Period Ended <br>10/31/24<sup>(a)</sup>  |
| *iShares ETF* | *Shares* | *Amount* |
| iBonds Dec 2030 Term Muni Bond |  |  |
| Shares sold | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; $12727583 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on May 22, 2024.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Fund using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, the Fund's custodian, and the Fund. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statement of Assets and Liabilities.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Fund through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of iShares iBonds Dec 2030 Term Muni Bond ETF

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of iShares iBonds Dec 2030 Term Muni Bond ETF (one of the funds constituting iShares Trust, referred to hereafter as the "Fund") as of October 31, 2024, and the related statements of operations and changes in net assets, including the related notes, and the financial highlights for the period May 22, 2024 (commencement of operations) through October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2024, and the results of its operations, changes in its net assets and the financial highlights for the period May 22, 2024 (commencement of operations) through October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodian and transfer agent. We believe that our audit provides a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

------

Important Tax Information (unaudited)

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Fund hereby designates the following amount, or maximum amount allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| iBonds Dec 2030 Term Muni Bond | &nbsp;&nbsp; $19 |

---

The Fund hereby designates the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| iBonds Dec 2030 Term Muni Bond | &nbsp;&nbsp; $19 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Fund, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Fund from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares iBonds Dec 2030 Term Muni Bond ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required to consider the approval of the proposed Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the terms of the proposed Advisory Agreement. At a meeting held on March 4-5, 2024, the Board, including the Independent Board Members, approved the selection of BFA as investment adviser and approved the proposed Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA. The Board also considered information previously provided by BFA, BlackRock Institutional Trust Company, N.A. ("BTC"), and BlackRock, Inc. ("BlackRock"), as applicable, at prior Board meetings. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses of the Fund; (ii) the nature, extent and quality of the services to be provided by BFA; (iii) the costs of services to be provided to the Fund and the availability of information related to profits to be realized by BFA and its affiliates; (iv) potential economies of scale; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the Advisory Agreement are discussed below.

**Expenses of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances.

The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level of the Fund supported the Board's approval of the Advisory Agreement.

**Nature, Extent and Quality of Services to be Provided by BFA:** The Board reviewed the scope of services to be provided by BFA under the Advisory Agreement. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time and have made significant investments into the iShares business to support the iShares funds and their shareholders. The Board considered representations by BFA, BTC, and BlackRock that the scope and quality of services to be provided to the Fund would be similar to the scope and quality of services provided to other iShares funds. The Board also considered BFA's compliance program and its compliance record with respect to other iShares funds including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons who will be responsible for the day-to-day management of the Fund, as well as the resources that will be available to them in managing the Fund. The Board also considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies, which were provided throughout the year with respect to other iShares funds, and other matters related to BFA's portfolio compliance program and other compliance programs and services.

Based on review of this information, the Board concluded that the nature, extent and quality of services to be provided to the Fund under the Advisory Agreement supported the Board's approval of the Advisory Agreement.

**Costs of Services to be Provided to the Fund and Profits to be Realized by BFA and Affiliates:** The Board did not consider the profitability of the Fund to BFA based on the fees payable under the Advisory Agreement or revenue to be received by BFA or its affiliates in connection with services to be provided to the Fund since the proposed relationship had not yet commenced. The Board noted that it expects to receive profitability information from BFA periodically following the Fund's launch and will thus be in a position to evaluate whether any new or additional breakpoints or other adjustments in Fund fees would be appropriate.

**Economies of Scale:** The Board considered information that it had previously received regarding potential economies of scale, efficiencies and scale benefits shared with the iShares funds through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for any breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

This consideration of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the Advisory Agreement.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the "Other Accounts"). The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board further noted that BFA previously provided the Board with detailed information regarding how the Other Accounts (particularly institutional clients) generally differ from the iShares funds, including in terms of the different and generally more extensive services provided to the iShares funds, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement.

**Other Benefits to BFA and/or its Affiliates:** Except as noted below, the Board did not consider the "fallout" benefits or ancillary revenue to be received by BFA and/or its affiliates in connection with the services to be provided to the Fund by BFA since the proposed relationship had not yet commenced. However, the Board considered the potential payment of advisory fees and/or administration fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services and/or administration services. The Board further considered other direct benefits that might accrue to BFA, including the potential for reduction in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also noted the potential revenue to be received by BFA and/or its affiliates pursuant to an agreement that would permit a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board also considered the potential for revenue to BTC, the Fund's securities lending agent, and its affiliates in the event of any loaning of portfolio securities of the Fund. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that will be provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the Advisory Agreement.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including a majority of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services to be rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the Advisory Agreement.

2024 iShares Annual Financial Statements and Additional Information

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGC | Assured Guaranty Corp. |
| AGM | Assured Guaranty Municipal Corp. |
| BAB | Build America Bond |
| BAM | Build America Mutual Assurance Co. |
| COP | Certificates of Participation |
| GO | General Obligation |
| GOL | General Obligation Limited |
| GTD | Guaranteed |
| NPFGC | National Public Finance Guarantee Corp. |
| PSF | Permanent School Fund |
| RB | Revenue Bond |
| SAW | State Aid Withholding |
| ST | Special Tax |

---

Glossary of Terms Used in this Report

------

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Fund's shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by S&P Dow Jones Indices LLC, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

![](g938995img597f79d81.jpg)

![](g938995img226f33212.gif)

------

October 31, 2024

![](g938995imgba2415651.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; 2024 Annual Financial Statements <br> and Additional Information <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares iBonds Dec 2034 Term Treasury ETF \| IBTP \| NASDAQ |
| • iShares iBonds Dec 2044 Term Treasury ETF \| IBGA \| NASDAQ |
| • iShares iBonds Dec 2054 Term Treasury ETF \| IBGK \| NASDAQ |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 8 |
| [Statements of Operations](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 9 |
| [Statements of Changes in Net Assets](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 10 |
| [Financial Highlights](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 12 |
| [Notes to Financial Statements](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 15 |
| [Report of Independent Registered Public Accounting Firm](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 21 |
| [Important Tax Information](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 22 |
| [Additional Information](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_SAI-Footer-iSharesReport_1)  | &nbsp;&nbsp; 23 |
| [Board Review and Approval of Investment Advisory Contract](#xx_6f24a31e-8484-4881-8c5a-9a835a9d533e_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 24 |

---

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2034 Term Treasury ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations** | **U.S. Government Obligations** | **U.S. Government Obligations** |
| **U.S. Government Obligations — 98.5%** | **U.S. Government Obligations — 98.5%** | **U.S. Government Obligations — 98.5%** |
| U.S. Treasury Note/Bond |  |  |
| 3.88%, 08/15/34 | &nbsp;&nbsp; $11451 | $11078842 |
| 4.00%, 02/15/34 | &nbsp;&nbsp; 11438 | 11191270 |
| 4.38%, 05/15/34 | &nbsp;&nbsp; 11450 | 11530609 |
|  |  | 33800721 |
| **Total Long-Term Investments — 98.5%** <br>**(Cost: $34,293,531)** | **Total Long-Term Investments — 98.5%** <br>**(Cost: $34,293,531)** | 33800721 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.0%** | **Money Market Funds — 0.0%** | **Money Market Funds — 0.0%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10000 | 10000 |
| **Total Short-Term Securities — 0.0%** <br>**(Cost: $10,000)** | **Total Short-Term Securities — 0.0%** <br>**(Cost: $10,000)** | 10000 |
| **Total Investments — 98.5%** <br>**(Cost: $34,303,531)** | **Total Investments — 98.5%** <br>**(Cost: $34,303,531)** | 33810721 |
| **Other Assets Less Liabilities — 1.5%** | **Other Assets Less Liabilities — 1.5%** | 516624 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $34327345 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*06/11/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $—<br> &nbsp;&nbsp; $10000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $10000 | 10000 | $646 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| U.S. Government Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33800721 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33800721 |

---

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2034 Term Treasury ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $10000 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10000 |
|  | &nbsp;&nbsp; $10000 | &nbsp;&nbsp; $33800721 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33810721 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2044 Term Treasury ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations** | **U.S. Government Obligations** | **U.S. Government Obligations** |
| **U.S. Government Obligations — 98.1%** | **U.S. Government Obligations — 98.1%** | **U.S. Government Obligations — 98.1%** |
| U.S. Treasury Note/Bond |  |  |
| 3.00%, 11/15/44 | &nbsp;&nbsp; $2057 | $1620768 |
| 3.13%, 08/15/44 | &nbsp;&nbsp; 2357 | 1898110 |
| 3.38%, 05/15/44 | &nbsp;&nbsp; 1828 | 1536961 |
| 3.63%, 02/15/44 | &nbsp;&nbsp; 1972 | 1723004 |
| 4.13%, 08/15/44 | &nbsp;&nbsp; 1838 | 1726091 |
| 4.50%, 02/15/44 | &nbsp;&nbsp; 2983 | 2950373 |
| 4.63%, 05/15/44 | &nbsp;&nbsp; 3454 | 3471471 |
|  |  | 14926778 |
| **Total Long-Term Investments — 98.1%** <br>**(Cost: $15,339,835)** | **Total Long-Term Investments — 98.1%** <br>**(Cost: $15,339,835)** | 14926778 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.83%<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 10000 | 10000 |
| **Total Short-Term Securities — 0.1%** <br>**(Cost: $10,000)** | **Total Short-Term Securities — 0.1%** <br>**(Cost: $10,000)** | 10000 |
| **Total Investments — 98.2%** <br>**(Cost: $15,349,835)** | **Total Investments — 98.2%** <br>**(Cost: $15,349,835)** | 14936778 |
| **Other Assets Less Liabilities — 1.8%** | **Other Assets Less Liabilities — 1.8%** | 276758 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $15213536 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*06/11/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $—<br> &nbsp;&nbsp; $10000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $10000 | 10000<br> $3621 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. 

2024 iShares Annual Financial Statements and Additional Information

------

Schedule of Investments (continued)

October 31, 2024

**iShares® iBonds® Dec 2044 Term Treasury ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| U.S. Government Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14926778 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14926778 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 10000 |
|  | &nbsp;&nbsp; $10000 | &nbsp;&nbsp; $14926778 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14936778 |

---

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

October 31, 2024

**iShares® iBonds® Dec 2054 Term Treasury ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations** | **U.S. Government Obligations** | **U.S. Government Obligations** |
| **U.S. Government Obligations — 98.3%** | **U.S. Government Obligations — 98.3%** | **U.S. Government Obligations — 98.3%** |
| U.S. Treasury Note/Bond |  |  |
| 4.25%, 02/15/54 | &nbsp;&nbsp; $843 | $809853 |
| 4.25%, 08/15/54 | &nbsp;&nbsp; 843 | 811448 |
| 4.63%, 05/15/54 | &nbsp;&nbsp; 843 | 862729 |
|  |  | 2484030 |
| **Total Investments — 98.3%** <br>**(Cost: $2,510,370)** | **Total Investments — 98.3%** <br>**(Cost: $2,510,370)** | 2484030 |
| **Other Assets Less Liabilities — 1.7%** | **Other Assets Less Liabilities — 1.7%** | 42712 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2526742 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*06/11/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/24*<br>| *Shares* <br>*Held at* <br>*10/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(b)</sup> | $—<br> &nbsp;&nbsp; $0 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $— |  | $89 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> As of period end, the entity is no longer held.

<sup>(c)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| Investments  |  |  |  |  |
| Long-Term Investments  |  |  |  |  |
| U.S. Government Obligations | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2484030 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2484030 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities

October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2034<br> Term Treasury <br> ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2044 Term <br> Treasury ETF <br>| &nbsp;&nbsp; iShares <br>iBonds Dec <br> 2054 Term <br> Treasury ETF <br>|
| **ASSETS** |  |  |  |
| Investments, at value—unaffiliated<sup>(a)</sup> | $33800721 | $14926778 | $2484030 |
| Investments, at value—affiliated<sup>(b)</sup> | 10000 | 10000 |  |
| Cash | 737 | 8621 | 1124 |
| Receivables: |  |  |  |
| Investments sold | 2652221 | 61629 | 198642 |
| Securities lending income—affiliated |  | 1271 |  |
| Dividends—affiliated | 35 | 57 |  |
| Interest—unaffiliated | 422438 | 206093 | 33202 |
| Total assets | 36886152 | 15214449 | 2716998 |
| **LIABILITIES** |  |  |  |
| Payables: |  |  |  |
| Investments purchased | 2557072 |  | 190103 |
| Investment advisory fees | 1735 | 913 | 153 |
| Total liabilities | 2558807 | 913 | 190256 |
| **Commitments and contingent liabilities** |  |  |  |
| NET ASSETS | $34327345 | $15213536 | $2526742 |
| **NET ASSETS CONSIST OF** |  |  |  |
| Paid-in capital | $34861904 | $15593538 | $2535091 |
| Accumulated loss | (534559) | (380002) | (8349) |
| NET ASSETS | $34327345 | $15213536 | $2526742 |
| **NET ASSET VALUE** |  |  |  |
| Shares outstanding | 1350000 | 600000 | 100000 |
| Net asset value | $25.43 | $25.36 | $25.27 |
| Shares authorized | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $34293531 | $15339835 | $2510370 |
| <sup>(b)</sup> Investments, at cost—affiliated | $10000 | $10000 | $— |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Period Ended October 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares <br>iBonds <br> Dec 2034 <br> Term Treasury <br> ETF<sup>(a)</sup> <br>| &nbsp;&nbsp; iShares <br>iBonds <br> Dec 2044 <br> Term <br> Treasury <br> ETF<sup>(a)</sup> <br>| &nbsp;&nbsp; iShares <br>iBonds <br> Dec 2054 <br> Term <br> Treasury <br> ETF<sup>(a)</sup> <br>|
| **INVESTMENT INCOME** |  |  |  |
| Dividends—affiliated | &nbsp;&nbsp; $646 | &nbsp;&nbsp;&nbsp; $516 | &nbsp;&nbsp;&nbsp; $89 |
| Interest—unaffiliated | &nbsp;&nbsp; 267892 | &nbsp;&nbsp;&nbsp; 182814 | &nbsp;&nbsp;&nbsp; 51057 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3105 | &nbsp;&nbsp;&nbsp; — |
| Total investment income | &nbsp;&nbsp; 268538 | &nbsp;&nbsp;&nbsp; 186435 | &nbsp;&nbsp;&nbsp; 51146 |
| EXPENSES |  |  |  |
| Investment advisory | &nbsp;&nbsp; 4673 | &nbsp;&nbsp;&nbsp; 2939 | &nbsp;&nbsp;&nbsp; 841 |
| Total expenses | &nbsp;&nbsp; 4673 | &nbsp;&nbsp;&nbsp; 2939 | &nbsp;&nbsp;&nbsp; 841 |
| Less: |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; (11)<br>| &nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp; (2)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 4662 | &nbsp;&nbsp;&nbsp; 2930 | &nbsp;&nbsp;&nbsp; 839 |
| Net investment income | &nbsp;&nbsp; 263876 | &nbsp;&nbsp;&nbsp; 183505 | &nbsp;&nbsp;&nbsp; 50307 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (140055)<br>| &nbsp;&nbsp;&nbsp; (24393)<br>| &nbsp;&nbsp;&nbsp; 8819 |
| In-kind redemptions—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 135079 | &nbsp;&nbsp;&nbsp; 79664 |
|  | &nbsp;&nbsp; (140055)<br>| &nbsp;&nbsp;&nbsp; 110686 | &nbsp;&nbsp;&nbsp; 88483 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (492810)<br>| &nbsp;&nbsp;&nbsp; (413057)<br>| &nbsp;&nbsp;&nbsp; (26340)<br>|
|  | &nbsp;&nbsp; (492810)<br>| &nbsp;&nbsp;&nbsp; (413057)<br>| &nbsp;&nbsp;&nbsp; (26340)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; (632865)<br>| &nbsp;&nbsp;&nbsp; (302371)<br>| &nbsp;&nbsp;&nbsp; 62143 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $(368989)<br>| &nbsp;&nbsp;&nbsp; $(118866)<br>| &nbsp;&nbsp;&nbsp; $112450 |
| <sup>(a)</sup> For the period from June 11, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from June 11, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from June 11, 2024 (commencement of operations) to October 31, 2024. | <sup>(a)</sup> For the period from June 11, 2024 (commencement of operations) to October 31, 2024. |
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>iBonds Dec <br> 2034<br> Term Treasury <br> ETF <br>| iShares <br>iBonds Dec <br> 2044 Term <br> Treasury ETF <br>|
|  | Period From <br>06/11/24<sup>(a)</sup> <br>to 10/31/24<br>| &nbsp;&nbsp; Period From <br>06/11/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |
| **OPERATIONS** |  |  |
| Net investment income | &nbsp;&nbsp; $263876 | &nbsp;&nbsp;&nbsp; $183505 |
| Net realized gain (loss) | &nbsp;&nbsp; (140055)<br>| &nbsp;&nbsp;&nbsp; 110686 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (492810)<br>| &nbsp;&nbsp;&nbsp; (413057)<br>|
| Net decrease in net assets resulting from operations | &nbsp;&nbsp; (368989)<br>| &nbsp;&nbsp;&nbsp; (118866)<br>|
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (165570)<br>| &nbsp;&nbsp;&nbsp; (126064)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 34861904 | &nbsp;&nbsp;&nbsp; 15458466 |
| *NET ASSETS* |  |  |
| Total increase in net assets | &nbsp;&nbsp; 34327345 | &nbsp;&nbsp;&nbsp; 15213536 |
| Beginning of period | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $34327345 | &nbsp;&nbsp;&nbsp; $15213536 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>iBonds Dec <br> 2054 Term <br> Treasury ETF <br>|
|  | Period From <br>06/11/24<sup>(a)</sup> <br>to 10/31/24<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |
| **OPERATIONS** |  |
| Net investment income | &nbsp;&nbsp; $50307 |
| Net realized gain | &nbsp;&nbsp; 88483 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (26340)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 112450 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (41135)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 2455427 |
| *NET ASSETS* |  |
| Total increase in net assets | &nbsp;&nbsp; 2526742 |
| Beginning of period | &nbsp;&nbsp; — |
| End of period | &nbsp;&nbsp; $2526742 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> iBonds <br> Dec 2034 <br> Term <br> Treasury <br> ETF <br>|
|  | Period <br> From <br>06/11/24<sup>(a)</sup> <br>to <br> 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 0.40 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.24 |
| Net increase from investment operations | 0.64 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.21)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.43 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 2.51 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.07 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.07 %<sup>(h)</sup><br>|
| Net investment income | 3.95 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $34327 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 61<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights(continued)

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> iBonds <br> Dec 2044 <br> Term <br> Treasury <br> ETF <br>|
|  | Period <br> From <br>06/11/24<sup>(a)</sup> <br>to <br> 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 0.44 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.15 |
| Net increase from investment operations | 0.59 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.23)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.36 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 2.32 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.07 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.07 %<sup>(h)</sup><br>|
| Net investment income | 4.37 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $15214 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 51<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements and Additional Information

------

Financial Highlights(continued)

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> iBonds Dec <br> 2054 Term <br> Treasury ETF <br>|
|  | Period From <br>06/11/24<sup>(a)</sup> <br>to 10/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.00 |
| Net investment income<sup>(b)</sup> | 0.42 |
| Net realized and unrealized gain<sup>(c)</sup> | 0.19 |
| Net increase from investment operations | 0.61 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.34)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.27 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | 2.39 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.07 %<sup>(h)</sup><br>|
| Total expenses after fees waived | 0.07 %<sup>(h)</sup><br>|
| Net investment income | 4.19 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $2527 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 104<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Statements of Changes in Net Assets

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| iBonds Dec 2034 Term Treasury<sup>(a)</sup> | &nbsp;&nbsp; Diversified |
| iBonds Dec 2044 Term Treasury<sup>(a)</sup> | &nbsp;&nbsp; Diversified |
| iBonds Dec 2054 Term Treasury<sup>(a)</sup> | &nbsp;&nbsp; Diversified |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Funds commenced operations on June 11, 2024.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's NAV.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that each Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.

***4. SECURITIES AND OTHER INVESTMENTS***

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

For its investment advisory services to each Fund, BFA is entitled to an annual investment advisory fee of 0.07%, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund.

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statements of Operations does not include acquired fund fees and expenses.

BFA has contractually agreed to waive a portion of its investment advisory fee for each Fund through the termination date of such Fund, in an amount equal to acquired fund fees and expenses, if any, attributable to each Fund's investments in other funds advised by BFA or its affiliates.

These amounts are included in investment advisory fees waived in the Statements of Operations. For the year ended October 31, 2024, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $11 |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 9 |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 2 |

---

**Distributor:** BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended October 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; $713 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Company are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***6. PURCHASES AND SALES***

For the year ended October 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
|  | *U.S. Government Securities* | *U.S. Government Securities* |
| *iShares ETF* | &nbsp;&nbsp; *Purchases* | &nbsp;&nbsp;&nbsp; *Sales* |
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $44751717 | &nbsp;&nbsp;&nbsp; $10366126 |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 19859530 | &nbsp;&nbsp;&nbsp; 5242000 |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 5377683 | &nbsp;&nbsp;&nbsp; 3066857 |

---

For the year ended October 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $33199270 | &nbsp;&nbsp;&nbsp; $— |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 16657866 | &nbsp;&nbsp;&nbsp; 2636115 |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 2510785 | &nbsp;&nbsp;&nbsp; 1311009 |

---

***7. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; $135072 | &nbsp;&nbsp;&nbsp; $(135072) |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 79664 | &nbsp;&nbsp;&nbsp; (79664) |

---

The tax character of distributions paid was as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Period Ended* <br>*10/31/24*<br>|
| iBonds Dec 2034 Term Treasury |  |
| Ordinary income | &nbsp;&nbsp; $165570 |
| iBonds Dec 2044 Term Treasury |  |
| Ordinary income | &nbsp;&nbsp; $126064 |
| iBonds Dec 2054 Term Treasury |  |
| Ordinary income | &nbsp;&nbsp; $41135 |

---

As of October 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $98306 | &nbsp;&nbsp;&nbsp; $(126242) | &nbsp;&nbsp;&nbsp; $(506623) | &nbsp;&nbsp;&nbsp; $(534559) |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 57441 | &nbsp;&nbsp;&nbsp; (22141) | &nbsp;&nbsp;&nbsp; (415302) | &nbsp;&nbsp;&nbsp; (380002) |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 22306 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (30655) | &nbsp;&nbsp;&nbsp; (8349) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

As of October 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $34317344 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(506623) | &nbsp;&nbsp;&nbsp; $(506623) |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 15352080 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (415302) | &nbsp;&nbsp;&nbsp; (415302) |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 2514685 | &nbsp;&nbsp;&nbsp; 6631 | &nbsp;&nbsp;&nbsp; (37286) | &nbsp;&nbsp;&nbsp; (30655) |

---

***8. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to mandatory and discretionary liquidity fees under certain circumstances.

**Market Risk:** Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund's portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio's current earnings rate.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates during a period of historically low interest rates. The Federal Reserve has raised the federal funds rate as part of its efforts to address inflation. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Funds' performance.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

2024 iShares Annual Financial Statements and Additional Information

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***9. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | |
|:---|:---|:---|
|  | Period Ended <br>10/31/24<sup>(a)</sup>  | Period Ended <br>10/31/24<sup>(a)</sup>  |
| *iShares ETF* | *Shares* | *Amount* |
| iBonds Dec 2034 Term Treasury |  |  |
| Shares sold | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp;&nbsp; $34861904 |
| iBonds Dec 2044 Term Treasury |  |  |
| Shares sold | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; $18113377 |
| Shares redeemed | &nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp;&nbsp; (2654911)<br>|
|  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; $15458466 |
| iBonds Dec 2054 Term Treasury |  |  |
| Shares sold | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; $3787861 |
| Shares redeemed | &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp;&nbsp; (1332434)<br>|
|  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; $2455427 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Funds commenced operations on June 11, 2024.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for the Funds using a clearing facility outside of the continuous net settlement process, the Funds, at their sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Funds' custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Funds may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***10. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the three funds listed in the table below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (three of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of October 31, 2024, the related statements of operations and changes in net assets, including the related notes, and the financial highlights for the period June 11, 2024 (commencement of operations) through October 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2024, and the results of each of their operations, the changes in each of their net assets and each of the financial highlights for the period June 11, 2024 (commencement of operations) through October 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

iShares iBonds Dec 2034 Term Treasury ETF <br> iShares iBonds Dec 2044 Term Treasury ETF <br> iShares iBonds Dec 2054 Term Treasury ETF

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2024 by correspondence with the custodians, transfer agents and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 20, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements and Additional Information

------

Important Tax Information (unaudited)

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Federal Obligation* <br>*Interest*<br>|
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $263876 |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 180400 |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 63441 |

---

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest Dividends* |
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $263876 |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 180400 |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 63441 |

---

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Interest-Related* <br>*Dividends*<br>|
| iBonds Dec 2034 Term Treasury | &nbsp;&nbsp; $263876 |
| iBonds Dec 2044 Term Treasury | &nbsp;&nbsp; 180400 |
| iBonds Dec 2054 Term Treasury | &nbsp;&nbsp; 63441 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Company's policies and procedures with respect to the disclosure of the Fund's portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets, when available, at **iShares.com**.

2024 iShares Annual Financial Statements and Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares iBonds Dec 2034 Term Treasury ETF, iShares iBonds Dec 2044 Term Treasury ETF, iShares iBonds Dec 2054 Term Treasury ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required to consider the approval of the proposed Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the terms of the proposed Advisory Agreement. At a meeting held on March 4-5, 2024, the Board, including the Independent Board Members, approved the selection of BFA as investment adviser and approved the proposed Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA. The Board also considered information previously provided by BFA, BlackRock Institutional Trust Company, N.A. ("BTC"), and BlackRock, Inc. ("BlackRock"), as applicable, at prior Board meetings. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses of the Fund; (ii) the nature, extent and quality of the services to be provided by BFA; (iii) the costs of services to be provided to the Fund and the availability of information related to profits to be realized by BFA and its affiliates; (iv) potential economies of scale; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the Advisory Agreement are discussed below.

**Expenses of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances.

The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level of the Fund supported the Board's approval of the Advisory Agreement.

**Nature, Extent and Quality of Services to be Provided by BFA:** The Board reviewed the scope of services to be provided by BFA under the Advisory Agreement. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time and have made significant investments into the iShares business to support the iShares funds and their shareholders. The Board considered representations by BFA, BTC, and BlackRock that the scope and quality of services to be provided to the Fund would be similar to the scope and quality of services provided to other iShares funds. The Board also considered BFA's compliance program and its compliance record with respect to other iShares funds including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons who will be responsible for the day-to-day management of the Fund, as well as the resources that will be available to them in managing the Fund. The Board also considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies, which were provided throughout the year with respect to other iShares funds, and other matters related to BFA's portfolio compliance program and other compliance programs and services.

Based on review of this information, the Board concluded that the nature, extent and quality of services to be provided to the Fund under the Advisory Agreement supported the Board's approval of the Advisory Agreement.

**Costs of Services to be Provided to the Fund and Profits to be Realized by BFA and Affiliates:** The Board did not consider the profitability of the Fund to BFA based on the fees payable under the Advisory Agreement or revenue to be received by BFA or its affiliates in connection with services to be provided to the Fund since the proposed relationship had not yet commenced. The Board noted that it expects to receive profitability information from BFA periodically following the Fund's launch and will thus be in a position to evaluate whether any new or additional breakpoints or other adjustments in Fund fees would be appropriate.

**Economies of Scale:** The Board considered information that it had previously received regarding potential economies of scale, efficiencies and scale benefits shared with the iShares funds through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for any breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

This consideration of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the Advisory Agreement.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the "Other Accounts"). The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board further noted that BFA previously provided the Board with detailed information regarding how the Other Accounts (particularly institutional clients) generally differ from the iShares funds, including in terms of the different and generally more extensive services provided to the iShares funds, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement.

**Other Benefits to BFA and/or its Affiliates:** Except as noted below, the Board did not consider the "fallout" benefits or ancillary revenue to be received by BFA and/or its affiliates in connection with the services to be provided to the Fund by BFA since the proposed relationship had not yet commenced. However, the Board considered the potential payment of advisory fees and/or administration fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services and/or administration services. The Board further considered other direct benefits that might accrue to BFA, including the potential for reduction in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also noted the potential revenue to be received by BFA and/or its affiliates pursuant to an agreement that would permit a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board also considered the potential for revenue to BTC, the Fund's securities lending agent, and its affiliates in the event of any loaning of portfolio securities of the Fund. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that will be provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the Advisory Agreement.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including a majority of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services to be rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the Advisory Agreement.

2024 iShares Annual Financial Statements and Additional Information

------

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------

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------

Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by ICE Data Indices, LLC, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

![](g938995img78e3493c2.gif)

![](g938995img139a9d953.gif)

------

Item 8 – Changes in and Disagreements with Accountants for Open-End Management Investment Companies – See Item 7

Item 9 – Proxy Disclosures for Open-End Management Investment Companies – See Item 7

Item 10 – Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies –See Item 7

Item 11 – Statement Regarding Basis for Approval of Investment Advisory Contract – See Item 7

Item 12 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable

Item 13 – Portfolio Managers of Closed-End Management Investment Companies – Not Applicable

Item 14 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not Applicable

---

| | |
|:---|:---|
| Item 15 – | Submission of Matters to a Vote of Security Holders – There have been no material changes to these procedures.  |

---

Item 16 – Controls and Procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing date of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

#### 4

------

Item 17 – Disclosure of Securities Lending Activities for Closed-End Management Investment Companies – Not Applicable

Item 18 – Recovery of Erroneously Awarded Compensation – Not Applicable

Item 19 – Exhibits attached hereto

[(a)(1) Code of Ethics – See Item 2](#item2)

(a)(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed – Not Applicable

[(a)(3) Section 302 Certifications are attached](d938995dex99cert.htm)

(a)(4) Any written solicitation to purchase securities under Rule 23c-1 – Not Applicable

(a)(5) Change in registrant's independent public accountant – Not Applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(b) Section 906 Certifications are attached](d938995dex99906cert.htm)

#### 5

------

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

iShares Trust

---

| | |
|:---|:---|
| By: | /s/ Jessica Tan  |
|  | Jessica Tan |
|  | President (principal executive officer) of |
|  | iShares Trust  |

---

Date: June 27, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Jessica Tan  |
|  | Jessica Tan |
|  | President (principal executive officer) of |
|  | iShares Trust |

---

Date: June 27, 2025

---

| | |
|:---|:---|
| By: | /s/ Trent Walker  |
|  | Trent Walker |
|  | Treasurer and Chief Financial Officer (principal financial officer) of |
|  | iShares Trust |

---

Date: June 27, 2025

#### 6

## Ex-99.Cert

**EX-99. CERT** 

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE** 

**SARBANES-OXLEY ACT OF 2002** 

I, Jessica Tan, President (principal executive officer) of iShares Trust, certify that:

1. I have reviewed this report on Form N-CSR of iShares Trust for the following forty-four series: iShares 0-5 Year High Yield Corporate Bond ETF, iShares 0-5 Year Investment Grade Corporate Bond ETF, iShares 1-3 Year International Treasury Bond ETF iShares 20+ Year Treasury Bond BuyWrite Strategy ETF, iShares Aaa - A Rated Corporate Bond ETF, iShares BB Rated Corporate Bond ETF, iShares Broad USD High Yield Corporate Bond ETF, iShares CMBS ETF, iShares Convertible Bond ETF, iShares Core 1-5 Year USD Bond ETF, iShares Core International Aggregate Bond ETF, iShares ESG Advanced High Yield Corporate Bond ETF, iShares Fallen Angels USD Bond ETF, iShares Floating Rate Bond ETF, iShares GNMA Bond ETF, iShares High Yield Corporate Bond BuyWrite Strategy ETF, iShares iBonds 2024 Term High Yield and Income ETF, iShares iBonds 2025 Term High Yield and Income ETF, iShares iBonds 2026 Term High Yield and Income ETF, iShares iBonds 2027 Term High Yield and Income ETF iShares iBonds 2031 Term High Yield and Income ETF, iShares iBonds Dec 2024 Term Corporate ETF, iShares iBonds Dec 2025 Term Corporate ETF, iShares iBonds Dec 2026 Term Corporate ETF, iShares iBonds Dec 2027 Term Corporate ETF, iShares iBonds Dec 2028 Term Corporate ETF, iShares iBonds Dec 2029 Term Corporate ETF, iShares iBonds Dec 2030 Term Corporate ETF, iShares iBonds Dec 2030 Term Muni Bond ETF, iShares iBonds Dec 2031 Term Corporate ETF, iShares iBonds Dec 2034 Term Corporate ETF, iShares iBonds Dec 2034 Term Treasury ETF, iShares iBonds Dec 2044 Term Treasury ETF, iShares iBonds Dec 2054 Term Treasury ETF, iShares iBonds Oct 2034 Term TIPS ETF, iShares International Treasury Bond ETF, iShares Investment Grade Corporate Bond BuyWrite Strategy ETF, iShares J.P. Morgan Broad USD Emerging Markets Bond ETF, iShares J.P. Morgan USD Emerging Markets Bond ETF, iShares Russell 2000 BuyWrite ETF, iShares S&P 500 BuyWrite ETF, iShares Treasury Floating Rate Bond ETF, iShares U.S. Fixed Income Balanced Risk Systematic ETF and iShares USD Green Bond ETF;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: June 27, 2025

<u>/s/ Jessica Tan</u> 

Jessica Tan

President (principal executive officer) of

iShares Trust

------

**EX-99. CERT** 

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE** 

**SARBANES-OXLEY ACT OF 2002** 

I, Trent Walker, Treasurer and Chief Financial Officer (principal financial officer) of iShares Trust, certify that:

1. I have reviewed this report on Form N-CSR of iShares Trust for the following forty-four series: iShares 0-5 Year High Yield Corporate Bond ETF, iShares 0-5 Year Investment Grade Corporate Bond ETF, iShares 1-3 Year International Treasury Bond ETF iShares 20+ Year Treasury Bond BuyWrite Strategy ETF, iShares Aaa - A Rated Corporate Bond ETF, iShares BB Rated Corporate Bond ETF, iShares Broad USD High Yield Corporate Bond ETF, iShares CMBS ETF, iShares Convertible Bond ETF, iShares Core 1-5 Year USD Bond ETF, iShares Core International Aggregate Bond ETF, iShares ESG Advanced High Yield Corporate Bond ETF, iShares Fallen Angels USD Bond ETF, iShares Floating Rate Bond ETF, iShares GNMA Bond ETF, iShares High Yield Corporate Bond BuyWrite Strategy ETF, iShares iBonds 2024 Term High Yield and Income ETF, iShares iBonds 2025 Term High Yield and Income ETF, iShares iBonds 2026 Term High Yield and Income ETF, iShares iBonds 2027 Term High Yield and Income ETF iShares iBonds 2031 Term High Yield and Income ETF, iShares iBonds Dec 2024 Term Corporate ETF, iShares iBonds Dec 2025 Term Corporate ETF, iShares iBonds Dec 2026 Term Corporate ETF, iShares iBonds Dec 2027 Term Corporate ETF, iShares iBonds Dec 2028 Term Corporate ETF, iShares iBonds Dec 2029 Term Corporate ETF, iShares iBonds Dec 2030 Term Corporate ETF, iShares iBonds Dec 2030 Term Muni Bond ETF, iShares iBonds Dec 2031 Term Corporate ETF, iShares iBonds Dec 2034 Term Corporate ETF, iShares iBonds Dec 2034 Term Treasury ETF, iShares iBonds Dec 2044 Term Treasury ETF, iShares iBonds Dec 2054 Term Treasury ETF, iShares iBonds Oct 2034 Term TIPS ETF, iShares International Treasury Bond ETF, iShares Investment Grade Corporate Bond BuyWrite Strategy ETF, iShares J.P. Morgan Broad USD Emerging Markets Bond ETF, iShares J.P. Morgan USD Emerging Markets Bond ETF, iShares Russell 2000 BuyWrite ETF, iShares S&P 500 BuyWrite ETF, iShares Treasury Floating Rate Bond ETF, iShares U.S. Fixed Income Balanced Risk Systematic ETF and iShares USD Green Bond ETF;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: June 27, 2025

<u>/s/ Trent Walker</u> 

Trent Walker

Treasurer and Chief Financial Officer (principal financial officer) of

iShares Trust

## Exhibit 99.906

Exhibit 99.906CERT

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and** 

**Section 906 of the Sarbanes-Oxley Act of 2002** 

Pursuant to 18 U.S.C. § 1350, the undersigned officer of iShares Trust (the "Registrant"), hereby certifies, to the best of his knowledge, that the Registrant's Report on Form N-CSR for the period ended October 31, 2024 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: June 27, 2025

<u>/s/ Jessica Tan</u> 

Jessica Tan

President (principal executive officer) of

iShares Trust

Pursuant to 18 U.S.C. § 1350, the undersigned officer of iShares Trust (the "Registrant"), hereby certifies, to the best of his knowledge, that the Registrant's Report on Form N-CSR for the period ended October 31, 2024 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: June 27, 2025

<u>/s/ Trent Walker</u> 

Trent Walker

Treasurer and Chief Financial Officer (principal financial officer) of

iShares Trust

This certification is being furnished pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, as amended, and 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Securities and Exchange Commission**.**