# EDGAR Filing Document

**Accession Number:** 0001524513
**File Stem:** 0001752724-23-071922
**Filing Date:** 2023-3
**Character Count:** 21636
**Document Hash:** 88cb0ed116f04324576bc964f5113c68
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071922.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071922

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iShares U.S. ETF Trust
- **CENTRAL INDEX KEY:** 0001524513
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22649
- **FILM NUMBER:** 23774037

**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

## Series and Classes Contracts Data

### iShares Commodity Curve Carry Strategy ETF (Series ID: S000064843)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000209927 | iShares Commodity Curve Carry Strategy ETF | CCRV            |

## Nport-Ex

---

| | |
|:---|:---|
| Consolidated Schedule of Investments (unaudited) | **iShares<sup>®</sup> Commodity Curve Carry Strategy ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Commercial Paper** |  |  |
| American Electric Power Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.71%, 02/07/23 | $450 | $449588 |
| &nbsp;&nbsp;&nbsp;4.83%, 03/13/23 | 500 | 497263 |
| Bell Canada Inc., 4.67%, 03/13/23 | 1000 | 994708 |
| Bell Telephone Co. of Canada or Bell Canada, 4.59%, 02/13/23 | 432 | 431285 |
| Britannia Funding Co. LLC, 4.61%, 03/02/23 | 1400 | 1394645 |
| Dominion Energy Inc., 4.66%, 02/06/23 | 250 | 249806 |
| Lime Funding LLC, 4.61%, 03/10/23 | 885 | 880713 |
| Lloyds Bank PLC, 4.52%, 03/01/23 | 1300 | 1295279 |
| LMA-Americas LLC, 4.60%, 02/27/23 | 800 | 797249 |
| Marriott International Inc., 5.34%, 03/01/23 | 420 | 418429 |
| Mitsubishi UFJ Trust & Banking Corp., 4.48%, 02/08/23 | 1400 | 1398606 |
| Mizuho Bank Ltd., 4.59%, 03/07/23 | 1350 | 1344006 |
| Societe Generale SA, 4.53%, 03/06/23 | 800 | 796592 |
| Spire Inc., 4.74%, 02/16/23 | 800 | 798317 |
| Toyota Industries Commercial Finance Inc., 4.45%, 02/16/23 | 1400 | 1397234 |
| TransCanada PipeLines Ltd., 4.77%, 02/24/23 | 250 | 249207 |
| Union Electric Co., 4.72%, 02/14/23 | 429 | 428214 |
| VW Credit Inc., 4.88%, 03/24/23 | 500 | 496502 |
| **Total Commercial Paper — 50.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $14,318,506)** |  | 14317643 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par/<br> Shares <br> (000)* | *Value* |
| **U.S. Treasury Obligations** |  |  |
| U.S. Treasury Bill, 4.52%, 02/28/23<sup>(a)</sup> | $500 | $498333 |
| **Total U.S. Treasury Obligations — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $498,370)** |  | 498333 |
| **Money Market Funds** |  |  |
| BlackRock Cash Funds: Treasury, SL Agency Shares, 4.18%<sup>(b)(c)</sup> | 13310 | 13310000 |
| **Total Money Market Funds — 46.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $13,310,000)** |  | 13310000 |
| **Total Investments — 98.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $28,126,876)** |  | 28125976 |
| **Other Assets Less Liabilities — 1.5%** |  | 419303 |
| **Net Assets — 100.0%** |  | $28545279 |

---

<sup>(a)</sup> Rates are discount rates or a range of discount rates as of period end.

<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 period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br> 10/31/22* | *Purchases<br> at Cost* | *Proceeds<br> from Sale* | *Net Realized<br> Gain (Loss)* | *Change in<br> Unrealized<br> Appreciation<br> (Depreciation)* | *Value at<br> 01/31/23* | *Shares<br> Held at<br> 01/31/23<br> (000)* | *Income* | *Capital Gain<br> Distributions from<br> Underlying Funds* |
| BlackRock Cash Funds: Treasury, SL Agency Shares | $8760000 | $4550000 <sup>(a)</sup> | $– $|  | $— | $13310000 | 13310 | $87769 | $7 |

---

<sup>(a)</sup> Represents net amount purchased (sold).

**OTC Total Return Swaps**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* |  |  |  |  |  | *Upfront* |  |
|  |  |  |  |  |  |  |  |  | *Premiums* | *Unrealized* |
|  |  |  |  |  | *Effective* | *Termination* | *Notional* |  | *Paid* | *Appreciation* |
| *Rate<sup>(a)</sup>* | *Frequency* | *Reference<sup>(b)</sup>* | *Frequency* | *Counterparty* | *Date* | *Date* | *Amount (000)* | *Value* | *(Received)* | *(Depreciation)* |
| 4.60% | At Termination | ICE BofA Commodity Enhanced Carry Total Return Index | At Termination | Citibank N.A. | N/A | 08/31/23 | 13438 | $255687 | $(237482) | $493169 |
| 4.60% | At Termination | ICE BofA Commodity Enhanced Carry Total Return Index | At Termination | Merrill Lynch International | N/A | 08/31/23 | 13859 | 259612 | (249024) | 508636 |
|  |  |  |  |  |  |  |  | $515299 | $(486506) | $1001805 |

---

<sup>(a)</sup> Represents 3-month Treasury Bill. Rate shown is the rate in effect as of period-end.

<sup>(b)</sup> Please refer to the Reference Entity below for more details.

---

| | |
|:---|:---|
| Consolidated Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> Commodity Curve Carry Strategy ETF** |
| January 31, 2023 |  |

---

**Reference Entity**

The ICE BofA Commodity Enhanced Carry Total Return Index consists of futures contracts under each counterparty. The following table represents the individual long positions and related weighting of the future contracts underlying the ICE BofA Commodity Enhanced Carry Total Return Index as of January 31, 2023.

---

| | | |
|:---|:---|:---|
| *Futures contracts* | *Maturity date* | *Weight %* |
| Brent Crude Oil | 10/31/2023 | 25.8% |
| Copper | 12/19/2023 | 15.8 |
| Gas Oil | 12/12/2023 | 11.2 |
| Corn | 12/14/2023 | 11.1 |
| Soybeans | 11/14/2023 | 10.4 |
| WTI Crude Oil | 11/20/2023 | 6.8 |
| Sugar | 02/29/2024 | 6.7 |
| Live Cattle | 06/30/2023 | 4.8 |
| Coffee | 07/19/2023 | 4.2 |
| Zinc | 12/19/2023 | 3.3 |

---

**Fair Value Hierarchy as of Period End**

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial Paper | $— | $14317643 | $— | $14317643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Obligations |  | 498333 |  | 498333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 13310000 |  |  | 13310000 |
|  | $13310000 | $14815976 | $— | $28125976 |
| Derivative Financial Instruments<sup>(a)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodity Contracts | $— | $1001805 | $— | $1001805 |

---

<sup>(a)</sup> Derivative financial instruments are swaps. Swaps are valued at the unrealized appreciation (depreciation) on the instrument.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** iShares U.S. ETF Trust

- **b. Investment Company Act file number:** 811-22649

- **c. CIK number of Registrant:** 0001524513

- **d. LEI of Registrant:** 5493002YECWEEITPWL97

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 400 HOWARD STREET

  - **City:** SAN FRANCISCO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-474-2737

**Item A.2. Information about the Series.**

- **a. Name of Series:** iShares Commodity Curve Carry Strategy ETF

- **b. EDGAR series identifier (if any):** S000064843

- **c. LEI of Series:** 549300JIZIQP555KVM26

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $29321308.17

**Total Liabilities:** $776037.47

**Net Assets:** $28545270.70

**Amount of Assets Invested in Other Investment Companies:** $8774972.44

**Cash Not Reported:** $295609.14

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 105.99000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209927 | 3.81%                | -0.87%               | 2.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $3898.57                                   |
| Month 2  | $-629.75                 | $684.33                                    |
| Month 3  | $-1.67                   | $-736.12                                   |

**Designated Index Information**

- **Index Name:** ICE BofA Commodity Enhanced Carry Total Return Index

- **Index Identifier:** MLCX3CRT

### Schedule of Portfolio Investments

| Name                                           | Title                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States Treasury                         | United States Treasury Bill                      | CUSIP: 912796Y78<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $498333.13    | 1.75%             | 2023-02-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bell Telephone Co of Canada or Bell Canada/The | Bell Telephone Co of Canada or Bell Canada/The   | CUSIP: 07787QPD2<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | US        |    432000 | PA      | $431285.36    | 1.51%             | 2023-02-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Bank Ltd/Singapore                      | Mizuho Bank Ltd/Singapore                        | CUSIP: 60689QQ72<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | AU        |   1350000 | PA      | $1344005.81   | 4.71%             | 2023-03-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LMA-Americas LLC                               | LMA-Americas LLC                                 | CUSIP: 53944RPT9<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    800000 | PA      | $797249.00    | 2.79%             | 2023-02-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bell Telephone Co of Canada or Bell Canada/The | Bell Telephone Co of Canada or Bell Canada/The   | CUSIP: 07787QQD1<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $994707.58    | 3.48%             | 2023-03-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Spire Inc                                      | Spire Inc                                        | CUSIP: 84858PPG0<br>LEI: 549300NXSY15DRY2R511 | Long             | STIV             | CORP              | US        |    800000 | PA      | $798316.80    | 2.80%             | 2023-02-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL                    | TRSWAP: MLCX3CRT INDEX                           | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DCO              |  | US        |  13858979 | OU      | $259612.10    | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                            | Dominion Energy Inc                              | CUSIP: 2574P1P63<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249805.79    | 0.88%             | 2023-02-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                 | American Electric Power Co Inc                   | CUSIP: 0255E3QD3<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | STIV             | CORP              | US        |    500000 | PA      | $497262.68    | 1.74%             | 2023-03-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Union Electric Co                              | Union Electric Co                                | CUSIP: 90655KPE8<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | STIV             | CORP              | US        |    429000 | PA      | $428214.21    | 1.50%             | 2023-02-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                            | Societe Generale SA                              | CUSIP: 83369CQ64<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | STIV             | CORP              | US        |    800000 | PA      | $796591.69    | 2.79%             | 2023-03-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Lime Funding LLC                               | Lime Funding LLC                                 | CUSIP: 53262RQA3<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    885000 | PA      | $880713.11    | 3.09%             | 2023-03-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TransCanada PipeLines Ltd                      | TransCanada PipeLines Ltd                        | CUSIP: 89355QPQ3<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | STIV             | CORP              | CA        |    250000 | PA      | $249207.50    | 0.87%             | 2023-02-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                    | TRSWAP: MLCX3CRT INDEX                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCO              |  | US        |  13437552 | OU      | $255686.50    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                 | American Electric Power Co Inc                   | CUSIP: 0255E3P77<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | STIV             | CORP              | US        |    450000 | PA      | $449587.88    | 1.57%             | 2023-02-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Toyota Industries Commercial Finance Inc       | Toyota Industries Commercial Finance Inc         | CUSIP: 89232MPG3<br>LEI: 54930085LCL2BOXUSV19 | Long             | STIV             | CORP              | US        |   1400000 | PA      | $1397233.60   | 4.89%             | 2023-02-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Lloyds Bank PLC                                | Lloyds Bank PLC                                  | CUSIP: 53943SQ18<br>LEI: H7FNTJ4851HG0EXQ1Z70 | Long             | STIV             | CORP              | GB        |   1300000 | PA      | $1295279.13   | 4.54%             | 2023-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Britannia Funding Co LLC                       | Britannia Funding Co LLC                         | CUSIP: 11042MQ27<br>LEI: 549300X2ZBE7GS6QP587 | Long             | STIV             | CORP              | US        |   1400000 | PA      | $1394645.00   | 4.89%             | 2023-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Trust & Banking Corp/Singapore  | Mitsubishi UFJ Trust & Banking Corp/Singapore    | CUSIP: 60683CP88<br>LEI: JBONEPAGQXF4QP29B387 | Long             | STIV             | CORP              | JP        |   1400000 | PA      | $1398606.22   | 4.90%             | 2023-02-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VW Credit Inc                                  | VW Credit Inc                                    | CUSIP: 91842KQQ2<br>LEI: 549300UUPJ2NXDB68M19 | Long             | STIV             | CORP              | US        |    500000 | PA      | $496502.28    | 1.74%             | 2023-03-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  13310000 | NS      | $13310000.00  | 46.63%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

**Name of Applicant:** iShares U.S. ETF Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer