iSHARES TRUST


		JANUARY 31, 2024

2024 Semi-Annual Report

(Unaudited)

iShares Trust

iShares Currency Hedged MSCI ACWI ex U.S. ETF | HAWX | NYSE Arca

iShares Currency Hedged MSCI EAFE ETF | HEFA | Cboe BZX

iShares Currency Hedged MSCI EAFE Small-Cap ETF | HSCZ | NYSE Arca

iShares MSCI ACWI ex U.S. ETF | ACWX | NASDAQ

iShares MSCI EAFE ETF | EFA | NYSE Arca

iShares MSCI EAFE Small-Cap ETF | SCZ | NASDAQ

The Markets in Review

Dear Shareholder,

The combination of continued economic growth and cooling inflation provided a supportive backdrop for investors during the 12-month reporting period ended January 31, 2024. Significantly tighter monetary policy helped to rein in inflation, and the Consumer Price Index decelerated substantially in the first half of the period before stalling between 3% and 4% in the second half. A moderating labor market helped ease inflationary pressure, although wages continued to grow. Wage and job growth powered robust consumer spending, backstopping the economy. On October 7, 2023, Hamas launched a horrific attack on Israel. The ensuing war will have a significant humanitarian impact and could lead to heightened economic and market volatility. We see geopolitics as a structural market risk going forward. See our geopolitical risk dashboard at blackrock.com for more details.

Equity returns were robust during the period, as interest rates stabilized and the economy proved to be more resilient than many investors expected. The U.S. economy continued to show strength, and growth further accelerated in the second half of 2023. Large-capitalization U.S. stocks posted particularly substantial gains, supported by the performance of a few notable technology companies, while small-capitalization U.S. stocks advanced at a significantly slower pace. Meanwhile, international developed market equities also gained, while emerging market stocks declined overall.

The 10-year U.S. Treasury yield rose during the reporting period, driving its price down, as investors reacted to elevated inflation and attempted to anticipate future interest rate changes. However, shorter-duration U.S. Treasuries gained, as higher yields boosted returns. The corporate bond market benefited from improving economic sentiment, although high-yield corporate bond prices fared significantly better than investment-grade bonds as demand from yield-seeking investors remained strong.

The U.S. Federal Reserve (the “Fed”), attempting to manage persistent inflation, raised interest rates four times during the 12-month period, but paused its tightening in the second half of the period. The Fed also wound down its bond-buying programs and incrementally reduced its balance sheet by not replacing securities that reach maturity.

Supply constraints appear to have become an embedded feature of the new macroeconomic environment, making it difficult for developed economies to increase production without sparking higher inflation. Geopolitical fragmentation and an aging population risk further exacerbating these constraints, keeping the labor market tight and wage growth high. Although the Fed has stopped tightening for now, we believe that the new economic regime means that the Fed will need to maintain high rates for an extended period despite the market’s hopes for interest rate cuts, as reflected in the recent rally. In this new regime, we anticipate greater volatility and dispersion of returns, creating more opportunities for selective portfolio management.

Looking at developed market stocks, we have an overweight stance on U.S. stocks overall, particularly given the promise of emerging AI technologies. We are also overweight Japanese stocks as shareholder-friendly policies generate increased investor interest, although we maintain an underweight stance on European stocks. In credit, there are selective opportunities in the near term despite tighter credit and financial conditions. For fixed income investing with a six- to twelve-month horizon, we see the most attractive investments in short-term U.S. Treasuries and hard-currency emerging market bonds.

Overall, our view is that investors need to think globally, position themselves to be prepared for a decarbonizing economy, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.

LOGO

Rob Kapito

President, BlackRock Inc.

LOGO

Rob Kapito

President, BlackRock Inc.


Total Returns as of January 31, 2024
	6-Month		12-Month

U.S. large cap equities (S&P 500^® Index)		6.43%		20.82%

U.S. small cap equities (Russell 2000^® Index)		(2.02)		2.40

International equities (MSCI Europe, Australasia, Far East Index)		3.15		10.01

Emerging market equities (MSCI Emerging Markets Index)		(6.00)		(2.94)

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)		2.73		5.13

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)		1.74		(0.38)

U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)		3.15		2.10

Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)		2.70		2.90

U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)		6.18		9.28

Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.


2		T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T

Table of Contents


	Page

The Markets in Review		2
Semi-Annual Report:
Fund Summary		4
About Fund Performance		10
Disclosure of Expenses		10
Schedules of Investments		11
Financial Statements:
Statements of Assets and Liabilities		83
Statements of Operations		85
Statements of Changes in Net Assets		87
Financial Highlights		90
Notes to Financial Statements		96
Statement Regarding Liquidity Risk Management Program		107
Supplemental Information		108
General Information		109
Glossary of Terms Used in this Report		110


		3


Fund Summary as of January 31, 2024		iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Investment Objective

The iShares Currency Hedged MSCI ACWI ex U.S. ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization developed and emerging equities, excluding the U.S., while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar, as represented by the MSCI ACWI ex USA 100% Hedged to USD Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares MSCI ACWI ex U.S. ETF.

Performance


				Average Annual Total Returns									Cumulative Total Returns

	6-Month Total Returns			1 Year			5 Years			Since Inception			1 Year			5 Years			Since Inception

Fund NAV		2.31	%		9.25	%		8.38	%		6.65	%		9.25	%		49.54	%		73.97	%
Fund Market		2.15			9.19			8.36			6.65			9.19			49.43			73.91
Index		3.10			10.27			8.65			6.78			10.27			51.42			75.66

The inception date of the Fund was June 29, 2015. The first day of secondary market trading was July 1, 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. See “About Fund Performance” for more information.

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 1,023.10	$ 0.15			$ 1,000.00	$ 1,025.00	$ 0.15		0.03	%

^(a)

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

Portfolio Information

PORTFOLIO COMPOSITION



Investment Type	Percent of Net Assets

Investment Companies		99.5	%
Short-term Investments		0.3
Forward foreign currency exchange contracts, net cumulative appreciation		2.2
Other assets less liabilities		(2.0	)

SECTOR ALLOCATION (of the UNDERLYING FUND)



Sector	Percent of Total Investment^(a)

Financials		21.3	%
Industrials		13.5
Information Technology		12.7
Consumer Discretionary		11.4
Health Care		9.5
Consumer Staples		8.0
Materials		7.5
Energy		5.7
Communication Services		5.2
Utilities		3.2
Real Estate		2.0

^(a)

Excludes money market funds.


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Fund Summary as of January 31, 2024		iShares^® Currency Hedged MSCI EAFE ETF

Investment Objective

The iShares Currency Hedged MSCI EAFE ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization equities in Europe, Australasia, and the Far East while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar, as represented by the MSCI EAFE 100% Hedged to USD Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares MSCI EAFE ETF.

Performance


				Average Annual Total Returns									Cumulative Total Returns

	6-Month Total Returns			1 Year			5 Years			10 Years			1 Year			5 Years			10 Years

Fund NAV		5.30	%		14.16	%		10.93	%		8.67	%		14.16	%		67.97	%		129.68	%
Fund Market		5.32			14.21			10.94			8.67			14.21			68.01			129.65
Index		6.26			15.57			11.15			8.81			15.57			69.68			132.60

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 1,053.00	$ 0.15			$ 1,000.00	$ 1,025.00	$ 0.15		0.03	%

^(a)

Portfolio Information

PORTFOLIO COMPOSITION



Investment Type	Percent of Net Assets

Investment Companies		99.4	%
Short-term Investments		11.2
Forward foreign currency exchange contracts, net cumulative appreciation		2.7
Other assets less liabilities		(13.3	)

SECTOR ALLOCATION (of the UNDERLYING FUND)



Sector	Percent of Total Investment^(a)

Financials		18.9	%
Industrials		16.4
Health Care		13.1
Consumer Discretionary		12.0
Consumer Staples		9.2
Information Technology		9.0
Materials		7.4
Communication Services		4.2
Energy		4.2
Utilities		3.3
Real Estate		2.3

^(a)

Excludes money market funds.


F U N D S U M M A R Y		5


Fund Summary as of January 31, 2024		iShares^® Currency Hedged MSCI EAFE Small-Cap ETF

Investment Objective

The iShares Currency Hedged MSCI EAFE Small-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization developed market equities, excluding the U.S. and Canada, while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar, as represented by the MSCI EAFE Small-Cap 100% Hedged to USD Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares MSCI EAFE Small-Cap ETF.

Performance


				Average Annual Total Returns									Cumulative Total Returns

	6-Month Total Returns			1 Year			5 Years			Since Inception			1 Year			5 Years			Since Inception

Fund NAV		3.54	%		9.66	%		9.07	%		8.10	%		9.66	%		54.39	%		95.33	%
Fund Market		3.42			9.57			9.04			8.09			9.57			54.16			95.12
Index		4.56			11.12			9.50			8.32			11.12			57.45			98.63

The inception date of the Fund was June 29, 2015. The first day of secondary market trading was July 1, 2015.

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 1,035.40	$ 0.15			$ 1,000.00	$ 1,025.00	$ 0.15		0.03	%

^(a)

Portfolio Information



PORTFOLIO COMPOSITION

Investment Type	Percent of Net Assets

Investment Companies		99.3	%
Short-term Investments		0.1
Forward foreign currency exchange contracts, net cumulative appreciation		2.9
Other assets less liabilities		(2.3	)



SECTOR ALLOCATION (of the UNDERLYING FUND)

Sector	Percent of Total Investment^(a)

Industrials		23.3	%
Consumer Discretionary		12.8
Financials		12.0
Real Estate		10.3
Information Technology		10.0
Materials		9.3
Consumer Staples		6.5
Health Care		6.1
Communication Services		4.1
Energy		3.2
Utilities		2.4

^(a)

Excludes money market funds.


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Fund Summary as of January 31, 2024		iShares^® MSCI ACWI ex U.S. ETF

Investment Objective

The iShares MSCI ACWI ex U.S. ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization non-U.S. equities, as represented by the MSCI ACWI ex USA Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance


				Average Annual Total Returns									Cumulative Total Returns

	6-Month Total Returns			1 Year			5 Years			10 Years			1 Year			5 Years			10 Years

Fund NAV		(0.44	)%		4.43	%		4.99	%		4.02	%		4.43	%		27.54	%		48.36	%
Fund Market		(0.52	)		4.36			4.98			4.10			4.36			27.49			49.45
Index		0.48			5.88			5.32			4.21			5.88			29.60			51.03

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 995.60	$ 1.61			$ 1,000.00	$ 1,023.50	$ 1.63		0.32	%

^(a)

Portfolio Information



SECTOR ALLOCATION

Sector	Percent of Total Investments	^(a)

Financials	21.3	%
Industrials	13.5
Information Technology	12.7
Consumer Discretionary	11.4
Health Care	9.5
Consumer Staples	8.0
Materials	7.5
Energy	5.7
Communication Services	5.2
Utilities	3.2
Real Estate	2.0



GEOGRAPHIC ALLOCATION

Country/Geographic Region	Percent of Total Investments	^(a)

Japan	15.1	%
United Kingdom	9.3
Canada	7.7
France	7.6
China	6.8
Switzerland	6.7
Germany	5.4
India	4.9
Australia	4.8
Taiwan	4.6

^(a)

Excludes money market funds.


F U N D S U M M A R Y		7


Fund Summary as of January 31, 2024		iShares^® MSCI EAFE ETF

Investment Objective

The iShares MSCI EAFE ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada, as represented by the MSCI EAFE Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance


				Average Annual Total Returns									Cumulative Total Returns

	6-Month Total Returns			1 Year			5 Years			10 Years			1 Year			5 Years			10 Years

Fund NAV		2.11	%		8.25	%		6.71	%		4.63	%		8.25	%		38.39	%		57.23	%
Fund Market		2.01			8.13			6.74			4.69			8.13			38.53			58.10
Index		3.15			10.01			6.92			4.77			10.01			39.72			59.33

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 1,021.10	$ 1.63			$ 1,000.00	$ 1,023.50	$ 1.63		0.32	%

^(a)

Portfolio Information



SECTOR ALLOCATION

Sector	Percent of Total Investments	^(a)

Financials	18.9	%
Industrials	16.4
Health Care	13.1
Consumer Discretionary	12.0
Consumer Staples	9.2
Information Technology	9.0
Materials	7.4
Energy	4.2
Communication Services	4.2
Utilities	3.3
Real Estate	2.3



GEOGRAPHIC ALLOCATION

Country/Geographic Region	Percent of Total Investments	^(a)

Japan	23.2	%
United Kingdom	14.2
France	11.8
Switzerland	10.3
Germany	8.4
Australia	7.4
Netherlands	4.9
Denmark	3.5
Sweden	3.1
Italy	2.6

^(a)

Excludes money market funds.


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Fund Summary as of January 31, 2024		iShares^® MSCI EAFE Small-Cap ETF

Investment Objective

The iShares MSCI EAFE Small-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization developed market equities, excluding the U.S. and Canada, as represented by the MSCI EAFE Small Cap Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance


				Average Annual Total Returns									Cumulative Total Returns

	6-Month Total Returns			1 Year			5 Years			10 Years			1 Year			5 Years			10 Years

Fund NAV		(0.16	)%		1.80	%		4.21	%		4.59	%		1.80	%		22.89	%		56.62	%
Fund Market		(0.26	)		1.71			4.23			4.64			1.71			22.99			57.32
Index		0.99			3.56			4.59			4.79			3.56			25.15			59.66

Expense Example


Actual					Hypothetical 5% Return

	Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/23)	Ending Account Value (01/31/24)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 998.40	$ 2.01			$ 1,000.00	$ 1,023.10	$ 2.03		0.40	%

^(a)

Portfolio Information

SECTOR ALLOCATION



Sector	Percent of Total Investments	^(a)

Industrials	23.3	%
Consumer Discretionary	12.8
Financials	12.0
Real Estate	10.3
Information Technology	10.0
Materials	9.3
Consumer Staples	6.5
Health Care	6.1
Communication Services	4.1
Energy	3.2
Utilities	2.4

GEOGRAPHIC ALLOCATION



Country/Geographic Region	Percent of Total Investments	^(a)

Japan	34.2	%
United Kingdom	15.0
Australia	9.4
Sweden	5.8
Germany	4.5
Switzerland	4.5
France	3.9
Italy	3.2
Israel	2.9
Norway	2.4

^(a)

Excludes money market funds.


F U N D S U M M A R Y		9

About Fund Performance

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.

Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not trade in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.

An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, index returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, index returns would be lower.

Disclosure of Expenses

Shareholders of each Fund may incur the following charges: (1) transactional expenses, including brokerage commissions on purchases and sales of fund shares and (2) ongoing expenses, including management fees and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period and held through the end of the period) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other funds.

The expense examples provide information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”

The expense examples also provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in the Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing expenses only and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.


10		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 99.5%
iShares MSCI ACWI ex U.S. ETF^(a)		3,844,847	$	192,857,526


Total Investment Companies (Cost: $179,312,567)				192,857,526


Short-Term Securities

Money Market Funds — 0.3%
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%^(a)(b)		680,000		680,000


Total Short-Term Securities — 0.3% (Cost: $680,000)				680,000


Total Investments in Securities — 99.8% (Cost: $179,992,567)				193,537,526

Other Assets Less Liabilities — 0.2%				313,529


Net Assets — 100.0%			$	193,851,055

^(a)	Affiliate of the Fund.

^(b)	Annualized 7-day yield as of period end.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 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 07/31/23		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 01/31/24		Shares Held at 01/31/24		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares^(a)	$	12,677,885	$	—		$	(12,688,179	)^(b)	$	11,561		$	(1,267	)	$	—		—	$	35,729	^(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		70,000		610,000	^(b)		—			—			—			680,000		680,000		8,573			—
iShares MSCI ACWI ex U.S. ETF		179,887,849		26,362,041			(10,716,926	)		(596,883	)		(2,078,555	)		192,857,526		3,844,847		2,662,688			—


									$	(585,322	)	$	(2,079,822	)	$	193,537,526			$	2,706,990		$	—

^(a)

As of period end, the entity is no longer held.

^(b)

Represents net amount purchased (sold).

^(c)

All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

CLP	295,552,000	USD	317,307	Citibank N.A.		02/05/24	$	460
MYR	3,293,000	USD	696,194	State Street Bank & Trust Company		02/05/24		—
TRY	10,143,000	USD	333,070	BNP Paribas SA		02/05/24		266
TRY	861,000	USD	28,282	JPMorgan Chase Bank N.A.		02/05/24		14
USD	8,833,650	AUD	12,936,000	Bank of America N.A.		02/05/24		346,166
USD	27,438	AUD	41,000	BNP Paribas SA		02/05/24		537
USD	447,382	AUD	655,000	Citibank N.A.		02/05/24		17,628
USD	41,178	AUD	62,000	HSBC Bank PLC		02/05/24		499
USD	56,805	AUD	86,000	JPMorgan Chase Bank N.A.		02/05/24		380


S C H E D U L E O F I N V E S T M E N T S			11

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Forward Foreign Currency Exchange Contracts (continued)


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	13,974	BRL	69,000	Citibank N.A.		02/05/24	$	52
USD	23,461	BRL	115,000	JPMorgan Chase Bank N.A.		02/05/24		258
USD	28,927	BRL	143,000	Morgan Stanley & Co. International PLC		02/05/24		75
USD	3,078,112	BRL	14,988,000	State Street Bank & Trust Company		02/05/24		54,047
USD	129,723	CAD	174,000	Bank of America N.A.		02/05/24		295
USD	267,765	CAD	354,000	BNP Paribas SA		02/05/24		4,446
USD	43,311	CAD	58,000	Deutsche Bank Securities Inc.		02/05/24		168
USD	23,945	CAD	32,000	HSBC Bank PLC		02/05/24		142
USD	14,277,531	CAD	18,818,000	State Street Bank & Trust Company		02/05/24		280,015
USD	106,954	CHF	91,000	Bank of America N.A.		02/05/24		1,468
USD	36,465	CHF	31,000	Deutsche Bank Securities Inc.		02/05/24		531
USD	35,990	CHF	31,000	HSBC Bank PLC		02/05/24		55
USD	2,355	CHF	2,000	JPMorgan Chase Bank N.A.		02/05/24		37
USD	12,109,291	CHF	10,158,000	Morgan Stanley & Co. International PLC		02/05/24		334,270
USD	2,411	CLP	2,218,000	Citibank N.A.		02/05/24		26
USD	4,266	CLP	3,828,000	Morgan Stanley & Co. International PLC		02/05/24		150
USD	328,110	CLP	287,730,000	State Street Bank & Trust Company		02/05/24		18,754
USD	41,758	CNH	297,000	Barclays Bank PLC		02/05/24		438
USD	20,890	CNH	150,000	BNP Paribas SA		02/05/24		21
USD	3,494	CNH	25,000	HSBC Bank PLC		02/05/24		16
USD	2,367,006	CNH	16,819,000	Morgan Stanley & Co. International PLC		02/05/24		27,085
USD	10,488	CNY	75,000	State Street Bank & Trust Company		02/05/24		4
USD	49,626	DKK	340,000	Bank of America N.A.		02/05/24		326
USD	12,610	DKK	85,000	Citibank N.A.		02/05/24		284
USD	25,264	DKK	173,000	HSBC Bank PLC		02/05/24		179
USD	30,670	DKK	209,000	JPMorgan Chase Bank N.A.		02/05/24		365
USD	4,029,296	DKK	27,147,000	Morgan Stanley & Co. International PLC		02/05/24		92,959
USD	256,526	EUR	236,000	Bank of America N.A.		02/05/24		1,450
USD	188,638	EUR	172,000	BNP Paribas SA		02/05/24		2,735
USD	131,102	EUR	121,000	HSBC Bank PLC		02/05/24		321
USD	659,733	EUR	601,000	JPMorgan Chase Bank N.A.		02/05/24		10,152
USD	41,243,681	EUR	37,290,000	State Street Bank & Trust Company		02/05/24		939,369
USD	84,176	GBP	66,000	Bank of America N.A.		02/05/24		532
USD	3,808	GBP	3,000	Barclays Bank PLC		02/05/24		6
USD	17,768,679	GBP	13,936,000	BNP Paribas SA		02/05/24		107,177
USD	26,775	GBP	21,000	Citibank N.A.		02/05/24		162
USD	189,318	GBP	149,000	HSBC Bank PLC		02/05/24		486
USD	190,452	GBP	150,000	JPMorgan Chase Bank N.A.		02/05/24		353
USD	13,419,796	HKD	104,714,000	Citibank N.A.		02/05/24		24,365
USD	102,725	HKD	802,000	HSBC Bank PLC		02/05/24		130
USD	324,402	HKD	2,532,000	JPMorgan Chase Bank N.A.		02/05/24		498
USD	59,019	HKD	461,000	State Street Bank & Trust Company		02/05/24		46
USD	3,039	IDR	47,243,000	Bank of America N.A.		02/05/24		44
USD	4,537	IDR	70,877,000	JPMorgan Chase Bank N.A.		02/05/24		45
USD	9,772	IDR	151,165,000	Morgan Stanley & Co. International PLC		02/05/24		191
USD	997,891	IDR	15,373,866,000	State Street Bank & Trust Company		02/05/24		23,498


12		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Forward Foreign Currency Exchange Contracts (continued)


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	467,960	ILS	1,684,000	Citibank N.A.		02/05/24	$	6,267
USD	162,351	JPY	23,332,000	Bank of America N.A.		02/05/24		3,751
USD	85,578	JPY	12,323,000	JPMorgan Chase Bank N.A.		02/05/24		1,812
USD	28,245,656	JPY	3,962,922,000	Morgan Stanley & Co. International PLC		02/05/24		1,307,502
USD	99,354	KRW	129,453,000	Morgan Stanley & Co. International PLC		02/05/24		2,272
USD	7,087,976	KRW	9,180,954,000	State Street Bank & Trust Company		02/05/24		202,863
USD	3,175	MYR	15,000	Barclays Bank PLC		02/05/24		4
USD	10,047	MYR	47,000	Morgan Stanley & Co. International PLC		02/05/24		111
USD	1,446,351	MYR	6,728,000	State Street Bank & Trust Company		02/05/24		23,941
USD	14,691	NOK	153,000	Bank of America N.A.		02/05/24		142
USD	2,590	NOK	27,000	Barclays Bank PLC		02/05/24		22
USD	846,103	NOK	8,586,000	Citibank N.A.		02/05/24		29,668
USD	613	NZD	1,000	Bank of America N.A.		02/05/24		2
USD	244,423	NZD	386,000	Citibank N.A.		02/05/24		8,480
USD	624	NZD	1,000	Deutsche Bank Securities Inc.		02/05/24		13
USD	3,139	NZD	5,000	HSBC Bank PLC		02/05/24		83
USD	1,837	NZD	3,000	JPMorgan Chase Bank N.A.		02/05/24		4
USD	29,592	SEK	305,000	Bank of America N.A.		02/05/24		281
USD	4,022,498	SEK	40,488,000	BNP Paribas SA		02/05/24		131,438
USD	4,481	SGD	6,000	Bank of America N.A.		02/05/24		8
USD	1,488,039	SGD	1,960,000	Citibank N.A.		02/05/24		26,788
USD	2,259	SGD	3,000	Deutsche Bank Securities Inc.		02/05/24		22
USD	15,775	SGD	21,000	JPMorgan Chase Bank N.A.		02/05/24		119
USD	19,659	SGD	26,000	State Street Bank & Trust Company		02/05/24		275
USD	2,708	THB	96,000	Barclays Bank PLC		02/05/24		2
USD	942,584	THB	32,308,000	Citibank N.A.		02/05/24		31,713
USD	2,742	THB	97,000	HSBC Bank PLC		02/05/24		7
USD	4,152	THB	145,000	JPMorgan Chase Bank N.A.		02/05/24		64
USD	5,182	THB	180,000	State Street Bank & Trust Company		02/05/24		108
USD	26,662	TWD	831,000	Morgan Stanley & Co. International PLC		02/05/24		100
USD	8,492,135	TWD	257,789,000	State Street Bank & Trust Company		02/05/24		252,167
USD	63,863	TWD	1,971,000	UBS AG		02/05/24		862
USD	1,657,106	ZAR	30,389,000	Bank of America N.A.		02/05/24		34,391
USD	7,297	ZAR	136,000	Deutsche Bank Securities Inc.		02/05/24		35
USD	15,839	MXN	270,000	Bank of America N.A.		02/06/24		163
USD	2,241	MXN	38,000	BNP Paribas SA		02/06/24		35
USD	4,460	MXN	76,000	Deutsche Bank Securities Inc.		02/06/24		47
USD	1,341,772	MXN	22,843,000	HSBC Bank PLC		02/06/24		15,463
USD	114,817	MXN	1,955,000	Morgan Stanley & Co. International PLC		02/06/24		1,306
CLP	6,662,000	USD	7,121	Citibank N.A.		03/06/24		25
CNY	427,000	USD	59,560	State Street Bank & Trust Company		03/06/24		541
TRY	100,000	USD	3,186	BNP Paribas SA		03/06/24		10
USD	268,670	AUD	406,000	Bank of America N.A.		03/06/24		2,025
USD	9,145,494	AUD	13,821,000	Citibank N.A.		03/06/24		68,415
USD	3,075,170	BRL	15,249,000	Citibank N.A.		03/06/24		5,702
USD	618,502	CAD	826,000	BNP Paribas SA		03/06/24		3,853
USD	14,545,558	CAD	19,426,000	State Street Bank & Trust Company		03/06/24		90,143


S C H E D U L E O F I N V E S T M E N T S			13

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Forward Foreign Currency Exchange Contracts (continued)


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	728,820	CHF	623,000	Bank of America N.A.		03/06/24	$	4,308
USD	12,018,961	CHF	10,274,000	BNP Paribas SA		03/06/24		70,921
USD	2,329,438	CNH	16,675,000	HSBC Bank PLC		03/06/24		5,394
USD	293,558	DKK	2,011,000	Bank of America N.A.		03/06/24		1,503
USD	4,062,631	DKK	27,829,000	BNP Paribas SA		03/06/24		21,059
USD	41,484,208	EUR	38,137,000	BNP Paribas SA		03/06/24		212,727
USD	1,724,095	EUR	1,585,000	Citibank N.A.		03/06/24		8,824
USD	582,113	GBP	457,000	Bank of America N.A.		03/06/24		2,806
USD	18,169,355	GBP	14,264,000	BNP Paribas SA		03/06/24		87,881
USD	13,101,020	HKD	102,314,000	Citibank N.A.		03/06/24		1,350
USD	1,018,302	IDR	16,048,951,000	Citibank N.A.		03/06/24		1,303
USD	463,380	ILS	1,684,000	BNP Paribas SA		03/06/24		1,221
USD	12,933	ILS	47,000	Morgan Stanley & Co. International PLC		03/06/24		34
USD	9,506,922	INR	790,358,000	Citibank N.A.		03/06/24		4,493
USD	2,854,070	JPY	415,051,000	Citibank N.A.		03/06/24		19,437
USD	26,723,250	JPY	3,886,274,000	UBS AG		03/06/24		181,551
USD	7,079,219	KRW	9,410,902,000	Citibank N.A.		03/06/24		14,605
USD	1,463,981	MXN	25,283,000	HSBC Bank PLC		03/06/24		3,057
USD	28,663	MXN	495,000	Morgan Stanley & Co. International PLC		03/06/24		60
USD	7,752	NOK	81,000	Bank of America N.A.		03/06/24		44
USD	806,743	NOK	8,429,000	BNP Paribas SA		03/06/24		4,653
USD	8,002	NZD	13,000	Citibank N.A.		03/06/24		56
USD	245,599	NZD	399,000	UBS AG		03/06/24		1,697
USD	44,965	SEK	464,000	Bank of America N.A.		03/06/24		319
USD	3,856,846	SEK	39,797,000	BNP Paribas SA		03/06/24		27,585
USD	7,494	SGD	10,000	Bank of America N.A.		03/06/24		29
USD	1,515,878	SGD	2,023,000	Citibank N.A.		03/06/24		5,622
USD	912,538	THB	32,151,000	Citibank N.A.		03/06/24		3,993
USD	8,962,490	TWD	278,841,000	Citibank N.A.		03/06/24		15,019
USD	1,614,456	ZAR	30,110,000	BNP Paribas SA		03/06/24		10,633

								5,259,205

AUD	13,821,000	USD	9,136,372	Citibank N.A.		02/05/24		(68,228	)
BRL	15,249,000	USD	3,084,825	Citibank N.A.		02/05/24		(8,099	)
BRL	66,000	USD	13,574	Morgan Stanley & Co. International PLC		02/05/24		(257	)
CAD	159,000	USD	120,218	Morgan Stanley & Co. International PLC		02/05/24		(1,948	)
CAD	19,426,000	USD	14,539,875	State Street Bank & Trust Company		02/05/24		(90,107	)
CHF	91,000	USD	108,575	Bank of America N.A.		02/05/24		(3,089	)
CHF	10,274,000	USD	11,980,363	BNP Paribas SA		02/05/24		(70,876	)
CHF	58,000	USD	69,143	Citibank N.A.		02/05/24		(1,910	)
CNH	872,000	USD	122,730	Citibank N.A.		02/05/24		(1,414	)
CNH	16,675,000	USD	2,325,148	HSBC Bank PLC		02/05/24		(5,261	)
DKK	27,829,000	USD	4,056,259	BNP Paribas SA		02/05/24		(21,032	)
DKK	125,000	USD	18,554	Citibank N.A.		02/05/24		(429	)
EUR	38,137,000	USD	41,431,312	BNP Paribas SA		02/05/24		(211,533	)
EUR	283,000	USD	312,816	HSBC Bank PLC		02/05/24		(6,940	)
GBP	14,264,000	USD	18,164,862	BNP Paribas SA		02/05/24		(87,675	)
GBP	61,000	USD	77,772	Citibank N.A.		02/05/24		(465	)
HKD	109,584,000	USD	14,021,397	Citibank N.A.		02/05/24		(2,975	)


14		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Forward Foreign Currency Exchange Contracts (continued)


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

IDR	15,737,671,000	USD	999,185	Citibank N.A.		02/05/24	$	(1,735	)
ILS	1,684,000	USD	462,956	BNP Paribas SA		02/05/24		(1,263	)
ILS	26,000	USD	7,226	Citibank N.A.		02/05/24		(97	)
ILS	19,000	USD	5,267	JPMorgan Chase Bank N.A.		02/05/24		(58	)
INR	752,350,000	USD	9,060,092	Citibank N.A.		02/05/24		(2,805	)
JPY	20,779,000	USD	148,062	Bank of America N.A.		02/05/24		(6,816	)
JPY	156,466,000	USD	1,115,278	Citibank N.A.		02/05/24		(51,692	)
JPY	3,886,274,000	USD	26,598,730	UBS AG		02/05/24		(181,594	)
KRW	9,410,902,000	USD	7,069,116	Citibank N.A.		02/05/24		(11,557	)
MYR	15,000	USD	3,172	Barclays Bank PLC		02/05/24		(1	)
MYR	47,000	USD	9,939	Morgan Stanley & Co. International PLC		02/05/24		(3	)
MYR	3,445,000	USD	729,290	State Street Bank & Trust Company		02/05/24		(960	)
NOK	66,000	USD	6,507	Bank of America N.A.		02/05/24		(231	)
NOK	8,429,000	USD	806,156	BNP Paribas SA		02/05/24		(4,650	)
NOK	309,000	USD	30,451	Citibank N.A.		02/05/24		(1,069	)
NZD	399,000	USD	245,612	UBS AG		02/05/24		(1,723	)
SEK	39,797,000	USD	3,852,170	BNP Paribas SA		02/05/24		(27,518	)
SEK	1,355,000	USD	134,629	Citibank N.A.		02/05/24		(4,408	)
SEK	185,000	USD	18,367	HSBC Bank PLC		02/05/24		(588	)
SGD	2,031,000	USD	1,519,898	Citibank N.A.		02/05/24		(5,715	)
THB	32,151,000	USD	911,180	Citibank N.A.		02/05/24		(4,736	)
THB	1,020,000	USD	29,777	JPMorgan Chase Bank N.A.		02/05/24		(1,020	)
TWD	262,606,000	USD	8,411,467	Citibank N.A.		02/05/24		(17,528	)
TWD	791,000	USD	26,076	Morgan Stanley & Co. International PLC		02/05/24		(793	)
USD	26,871	AUD	41,000	Bank of America N.A.		02/05/24		(29	)
USD	110,398	CAD	149,000	Bank of America N.A.		02/05/24		(434	)
USD	71,684	CHF	62,000	Bank of America N.A.		02/05/24		(185	)
USD	53,061	CHF	46,000	BNP Paribas SA		02/05/24		(262	)
USD	2,304	CHF	2,000	HSBC Bank PLC		02/05/24		(15	)
USD	954	CLP	888,000	Morgan Stanley & Co. International PLC		02/05/24		—
USD	953	CLP	888,000	State Street Bank & Trust Company		02/05/24		(1	)
USD	7,347	CNH	53,000	BNP Paribas SA		02/05/24		(27	)
USD	6,948	CNH	50,000	JPMorgan Chase Bank N.A.		02/05/24		(8	)
USD	10,819	CNY	78,000	State Street Bank & Trust Company		02/05/24		(84	)
USD	39,270	HKD	307,000	Barclays Bank PLC		02/05/24		(3	)
USD	58,963	HKD	461,000	JPMorgan Chase Bank N.A.		02/05/24		(10	)
USD	39,272	HKD	307,000	State Street Bank & Trust Company		02/05/24		—
USD	2,987	IDR	47,260,000	Morgan Stanley & Co. International PLC		02/05/24		(9	)
USD	2,989	IDR	47,260,000	State Street Bank & Trust Company		02/05/24		(6	)
USD	6,977	ILS	26,000	Bank of America N.A.		02/05/24		(152	)
USD	1,640	ILS	6,000	Deutsche Bank Securities Inc.		02/05/24		(5	)
USD	3,496	ILS	13,000	JPMorgan Chase Bank N.A.		02/05/24		(68	)
USD	27,154	INR	2,259,000	Bank of America N.A.		02/05/24		(42	)
USD	40,766	INR	3,388,000	JPMorgan Chase Bank N.A.		02/05/24		(21	)
USD	74,175	INR	6,171,000	Morgan Stanley & Co. International PLC		02/05/24		(116	)
USD	8,889,147	INR	740,532,000	State Street Bank & Trust Company		02/05/24		(25,867	)
USD	237,002	JPY	35,006,000	Bank of America N.A.		02/05/24		(953	)


S C H E D U L E O F I N V E S T M E N T S			15

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Forward Foreign Currency Exchange Contracts (continued)


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	84,330	JPY	12,434,000	JPMorgan Chase Bank N.A.		02/05/24	$	(191	)
USD	118,364	JPY	17,502,000	State Street Bank & Trust Company		02/05/24		(607	)
USD	31,661	KRW	42,384,000	Citibank N.A.		02/05/24		(125	)
USD	22,384	KRW	29,855,000	Morgan Stanley & Co. International PLC		02/05/24		(6	)
USD	21,028	KRW	28,256,000	State Street Bank & Trust Company		02/05/24		(162	)
USD	2,111	MYR	10,000	State Street Bank & Trust Company		02/05/24		(3	)
USD	3,607	NOK	38,000	Bank of America N.A.		02/05/24		(6	)
USD	1,833	NZD	3,000	Bank of America N.A.		02/05/24		—
USD	23,526	SEK	246,000	Bank of America N.A.		02/05/24		(116	)
USD	11,403	SEK	119,000	Barclays Bank PLC		02/05/24		(34	)
USD	17,072	SEK	179,000	BNP Paribas SA		02/05/24		(131	)
USD	11,163	SGD	15,000	State Street Bank & Trust Company		02/05/24		(20	)
USD	2,899	THB	103,000	HSBC Bank PLC		02/05/24		(5	)
USD	4,075	THB	145,000	JPMorgan Chase Bank N.A.		02/05/24		(13	)
USD	2,722	THB	97,000	Morgan Stanley & Co. International PLC		02/05/24		(13	)
USD	3,550	TRY	109,000	BNP Paribas SA		02/05/24		(32	)
USD	2,819	TRY	86,000	JPMorgan Chase Bank N.A.		02/05/24		(7	)
USD	1,497	TRY	46,000	Morgan Stanley & Co. International PLC		02/05/24		(15	)
USD	1,501	TRY	46,000	State Street Bank & Trust Company		02/05/24		(11	)
USD	351,503	TRY	10,717,000	UBS AG		02/05/24		(698	)
USD	1,500	TWD	47,000	Morgan Stanley & Co. International PLC		02/05/24		(2	)
USD	87,654	TWD	2,759,000	State Street Bank & Trust Company		02/05/24		(535	)
USD	17,179	ZAR	325,000	Bank of America N.A.		02/05/24		(175	)
USD	4,781	ZAR	90,000	Barclays Bank PLC		02/05/24		(25	)
USD	11,960	ZAR	226,000	Deutsche Bank Securities Inc.		02/05/24		(108	)
ZAR	307,000	USD	16,717	Bank of America N.A.		02/05/24		(324	)
ZAR	30,110,000	USD	1,618,506	BNP Paribas SA		02/05/24		(10,689	)
ZAR	749,000	USD	40,846	Citibank N.A.		02/05/24		(850	)
MXN	25,283,000	USD	1,471,084	HSBC Bank PLC		02/06/24		(3,104	)
MXN	165,000	USD	9,671	JPMorgan Chase Bank N.A.		02/06/24		(91	)
USD	4,406	MXN	76,000	Bank of America N.A.		02/06/24		(7	)
USD	6,619	MXN	114,000	Deutsche Bank Securities Inc.		02/06/24		—
USD	4,400	MXN	76,000	Morgan Stanley & Co. International PLC		02/06/24		(12	)
AUD	62,000	USD	40,919	JPMorgan Chase Bank N.A.		03/06/24		(200	)
BRL	121,000	USD	24,401	Citibank N.A.		03/06/24		(45	)
BRL	218,000	USD	43,987	State Street Bank & Trust Company		03/06/24		(105	)
CAD	97,000	USD	72,419	JPMorgan Chase Bank N.A.		03/06/24		(238	)
CHF	59,000	USD	68,761	JPMorgan Chase Bank N.A.		03/06/24		(147	)
CNH	237,000	USD	33,108	Morgan Stanley & Co. International PLC		03/06/24		(77	)
DKK	162,000	USD	23,592	JPMorgan Chase Bank N.A.		03/06/24		(65	)
EUR	114,000	USD	123,780	JPMorgan Chase Bank N.A.		03/06/24		(410	)
GBP	26,000	USD	33,059	JPMorgan Chase Bank N.A.		03/06/24		(101	)
HKD	3,495,000	USD	447,549	Bank of America N.A.		03/06/24		(70	)
HKD	3,375,000	USD	432,125	HSBC Bank PLC		03/06/24		(10	)
ILS	22,000	USD	6,045	Bank of America N.A.		03/06/24		(8	)


16		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Forward Foreign Currency Exchange Contracts (continued)


Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

INR	12,017,000		USD	144,551	Morgan Stanley & Co. International PLC		03/06/24	$	(72	)
JPY	28,716,000		USD	196,948	JPMorgan Chase Bank N.A.		03/06/24		(829	)
KRW	267,490,000		USD	201,216	Citibank N.A.		03/06/24		(415	)
KRW	52,950,000		USD	39,838	Morgan Stanley & Co. International PLC		03/06/24		(89	)
MXN	17,000		USD	984	State Street Bank & Trust Company		03/06/24		(2	)
MYR	30,000		USD	6,386	Morgan Stanley & Co. International PLC		03/06/24		(15	)
NOK	93,000		USD	8,886	Bank of America N.A.		03/06/24		(36	)
NZD	2,000		USD	1,227	JPMorgan Chase Bank N.A.		03/06/24		(5	)
SEK	227,000		USD	21,940	Morgan Stanley & Co. International PLC		03/06/24		(98	)
SGD	10,000		USD	7,481	JPMorgan Chase Bank N.A.		03/06/24		(15	)
THB	270,000		USD	7,664	Morgan Stanley & Co. International PLC		03/06/24		(35	)
THB	195,000		USD	5,514	UBS AG		03/06/24		(3	)
TWD	3,414,000		USD	109,722	Morgan Stanley & Co. International PLC		03/06/24		(173	)
USD	317,282		CLP	296,360,000	Citibank N.A.		03/06/24		(603	)
USD	5,943		IDR	93,790,000	Morgan Stanley & Co. International PLC		03/06/24		(1	)
USD	738,845		MYR	3,492,000	State Street Bank & Trust Company		03/06/24		(2,833	)
USD	323,276		TRY	10,143,000	BNP Paribas SA		03/06/24		(914	)
USD	53,206		TRY	1,671,000	UBS AG		03/06/24		(202	)
ZAR	94,000		USD	5,032	BNP Paribas SA		03/06/24		(25	)
ZAR	292,000		USD	15,657	Citibank N.A.		03/06/24		(104	)


									(965,157	)


								$	4,294,048

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 Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Assets — Derivative Financial Instruments
Forward foreign currency exchange contracts
Unrealized appreciation on forward foreign currency exchange contracts	$	—	$	—	$	—	$	5,259,205	$	—	$	—	$	5,259,205


Liabilities — Derivative Financial Instruments
Forward foreign currency exchange contracts
Unrealized depreciation on forward foreign currency exchange contracts	$	—	$	—	$	—	$	965,157	$	—	$	—	$	965,157


S C H E D U L E O F I N V E S T M E N T S			17

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF

Derivative Financial Instruments Categorized by Risk Exposure (continued)

For the period ended January 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:




	Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts			Interest Rate Contracts		Other Contracts		Total


Net Realized Gain (Loss) from
Forward foreign currency exchange contracts	$	—	$	—	$	—	$	(1,409,198	)	$	—	$	—	$	(1,409,198	)


Net Change in Unrealized Appreciation (Depreciation) on
Forward foreign currency exchange contracts	$	—	$	—	$	—	$	5,954,037		$	—	$	—	$	5,954,037

Average Quarterly Balances of Outstanding Derivative Financial Instruments




Forward foreign currency exchange contracts:
Average amounts purchased — in USD	$	183,694,634
Average amounts sold — in USD	$	363,398,794

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

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	$	5,259,205	$	965,157

Total derivative assets and liabilities in the Statement of Assets and Liabilities		5,259,205		965,157
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”)		—		—


Total derivative assets and liabilities subject to an MNA	$	5,259,205	$	965,157

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 Assets Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Received		Cash Collateral Received	^(b)	Net Amount of Derivative Assets	^(c)(d)


Bank of America N.A.	$	400,053	$	(12,673	)	$	—	$	—		$ 387,380
Barclays Bank PLC		472		(63	)		—		—		409
BNP Paribas SA		687,198		(436,627	)		—		—		250,571
Citibank N.A.		294,737		(187,004	)		—		—		107,733
Deutsche Bank Securities Inc.		816		(113	)		—		—		703
HSBC Bank PLC		25,832		(15,923	)		—		—		9,909
JPMorgan Chase Bank N.A.		14,101		(3,497	)		—		—		10,604
Morgan Stanley & Co. International PLC		1,766,115		(3,734	)		—		(570,000	)	1,192,381
State Street Bank & Trust Company		1,885,771		(121,303	)		—		—		1,764,468
UBS AG		184,110		(184,110	)		—		—		—


	$	5,259,205	$	(965,047	)	$	—	$	(570,000)		$3,724,158




Counterparty	Derivative Liabilities Subject to an MNA by Counterparty	Derivatives Available for Offset	^(a)	Non-Cash Collateral Pledged	Cash Collateral Pledged	Net Amount of Derivative Liabilities	^(d)(e)


Bank of America N.A.	$ 12,673	$ (12,673	)	$ —	$ —	$ —
Barclays Bank PLC	63	(63	)	—	—	—
BNP Paribas SA	436,627	(436,627	)	—	—	—
Citibank N.A.	187,004	(187,004	)	—	—	—
Deutsche Bank Securities Inc.	113	(113	)	—	—	—


18		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI ACWI ex U.S. ETF




	Derivative Liabilities Subject to an MNA by			Derivatives Available					Non-Cash Collateral		Cash Collateral	Net Amount of Derivative
Counterparty	Counterparty					for Offset	^(a)		Pledged		Pledged			Liabilities	^(d)(e)


HSBC Bank PLC		$	15,923		$	(15,923	)	$	—	$	—		$	—
JPMorgan Chase Bank N.A.			3,497			(3,497	)		—		—			—
Morgan Stanley & Co. International PLC			3,734			(3,734	)		—		—			—
State Street Bank & Trust Company			121,303			(121,303	)		—		—			—
UBS AG			184,220			(184,110	)		—		—			110


		$	965,157		$	(965,047	)	$	—	$	—		$	110

^(a)

The amount of derivatives available for offset is limited to the amount of derivative assets and/or liabilities that are subject to an MNA.

^(b)

Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes.

^(c)

Net amount represents the net amount receivable from the counterparty in the event of default.

^(d)

Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

^(e)

Net amount represents the net amount payable due to the counterparty in the event of default.

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
Investment Companies	$	192,857,526	$	—		$	—	$	192,857,526
Short-Term Securities
Money Market Funds		680,000		—			—		680,000

	$	193,537,526	$	—		$	—	$	193,537,526


Derivative Financial Instruments^(a)
Assets
Foreign Currency Exchange Contracts	$	—	$	5,259,205		$	—	$	5,259,205
Liabilities
Foreign Currency Exchange Contracts		—		(965,157	)		—		(965,157	)

	$	—	$	4,294,048		$	—		4,294,048

^(a)

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.


S C H E D U L E O F I N V E S T M E N T S			19

Schedule of Investments (unaudited)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 99.4%
iShares MSCI EAFE ETF^(a)(b)		52,121,455	$	3,909,630,340


Total Investment Companies (Cost: $3,530,123,146)				3,909,630,340


Short-Term Securities

Money Market Funds — 11.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.51%^(a)(c)(d)		438,112,547		438,375,414
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%^(a)(c)		2,550,000		2,550,000


Total Short-Term Securities — 11.2% (Cost: $440,925,414)				440,925,414


Total Investments in Securities — 110.6% (Cost: $3,971,048,560)				4,350,555,754

Liabilities in Excess of Other Assets — (10.6)%				(416,029,543	)


Net Assets — 100.0%			$	3,934,526,211

^(a)	Affiliate of the Fund.

^(b)	All or a portion of this security is on loan.

^(c)	Annualized 7-day yield as of period end.

^(d)	All or a portion of this security was purchased with the cash collateral from loaned securities.

Affiliates




Affiliated Issuer	Value at 07/31/23		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value at 01/31/24		Shares Held at 01/31/24		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares	$	813,520,005	$	—		$	(375,341,874	)^(a)	$	277,171	$	(79,888	)	$	438,375,414		438,112,547	$	608,071	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		1,130,000		1,420,000	^(a)		—			—		—			2,550,000		2,550,000		75,703			—
iShares MSCI EAFE ETF		3,545,298,008		628,606,005			(312,085,982	)		5,545,881		42,266,428			3,909,630,340		52,121,455		47,721,862			—

									$	5,823,052	$	42,186,540		$	4,350,555,754			$	48,405,636		$	—

^(a)

Represents net amount purchased (sold).

^(b)

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized

Appreciation

(Depreciation)

GBP

27,000

USD

34,102

Toronto Dominion Bank

02/02/24

116

ILS

3,000

USD

821

Bank of America N.A.

02/02/24

USD

1,277,754

AUD

1,898,000

Bank of America N.A.

02/02/24

32,571

USD

234,722

AUD

351,000

Bank of New York

02/02/24

4,448

USD

275,231,017

AUD

402,966,000

BNP Paribas SA

02/02/24

10,865,161


20		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE ETF

Forward Foreign Currency Exchange Contracts (continued)



Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	13,818,304	AUD	20,232,000	Citibank N.A.		02/02/24	$	545,100
USD	231,083	AUD	351,000	HSBC Bank PLC		02/02/24		809
USD	589,986	AUD	877,000	JPMorgan Chase Bank N.A.		02/02/24		14,630
USD	1,022,198	AUD	1,499,000	State Street Bank & Trust Company		02/02/24		38,779
USD	236,292	AUD	351,000	Toronto Dominion Bank		02/02/24		6,018
USD	771,043	CHF	652,000	Bank of America N.A.		02/02/24		15,495
USD	382,179,398	CHF	320,694,000	BNP Paribas SA		02/02/24		10,554,159
USD	614,789	CHF	522,000	Toronto Dominion Bank		02/02/24		9,887
USD	937,754	DKK	6,363,000	Bank of America N.A.		02/02/24		15,253
USD	126,725,333	DKK	853,909,000	BNP Paribas SA		02/02/24		2,926,448
USD	471,072	DKK	3,177,000	Citibank N.A.		02/02/24		10,473
USD	103,766	DKK	706,000	HSBC Bank PLC		02/02/24		1,411
USD	102,686	DKK	706,000	JPMorgan Chase Bank N.A.		02/02/24		331
USD	103,553	DKK	706,000	Toronto Dominion Bank		02/02/24		1,198
USD	1,024,581	EUR	945,000	Bank of New York		02/02/24		3,319
USD	12,377,645	EUR	11,192,000	Citibank N.A.		02/02/24		282,448
USD	5,721,952	EUR	5,186,000	HSBC Bank PLC		02/02/24		117,440
USD	2,051,819	EUR	1,890,000	JPMorgan Chase Bank N.A.		02/02/24		9,295
USD	1,033,245	EUR	945,000	Natwest Markets PLC		02/02/24		11,983
USD	1,260,629,239	EUR	1,139,862,000	State Street Bank & Trust Company		02/02/24		28,780,139
USD	2,591,091	EUR	2,363,000	UBS AG		02/02/24		37,396
USD	459,964	GBP	362,000	Bank of New York		02/02/24		1,201
USD	561,005,229	GBP	440,003,000	BNP Paribas SA		02/02/24		3,389,325
USD	1,603,950	GBP	1,258,000	Citibank N.A.		02/02/24		9,686
USD	919,665	GBP	724,000	HSBC Bank PLC		02/02/24		2,140
USD	461,411	GBP	362,000	JPMorgan Chase Bank N.A.		02/02/24		2,648
USD	1,154,467	GBP	905,000	UBS AG		02/02/24		7,560
USD	291,225	HKD	2,274,000	BNP Paribas SA		02/02/24		356
USD	78,335,117	HKD	611,292,000	Citibank N.A.		02/02/24		144,287
USD	196,549	HKD	1,536,000	HSBC Bank PLC		02/02/24		79
USD	1,311,727	HKD	10,237,000	State Street Bank & Trust Company		02/02/24		2,305
USD	65,620	HKD	512,000	Toronto Dominion Bank		02/02/24		130
USD	54,257	ILS	197,000	BNP Paribas SA		02/02/24		251
USD	14,719,293	ILS	52,974,000	Citibank N.A.		02/02/24		196,916
USD	692,009	JPY	98,702,000	Bank of America N.A.		02/02/24		21,388
USD	888,219,194	JPY	124,650,550,000	Bank of New York		02/02/24		41,293,321
USD	3,985,501	JPY	562,470,000	BNP Paribas SA		02/02/24		163,854
USD	1,718,136	JPY	246,755,000	JPMorgan Chase Bank N.A.		02/02/24		41,584
USD	134,219	NOK	1,391,000	Bank of America N.A.		02/02/24		1,960
USD	98,933	NOK	1,005,000	BNP Paribas SA		02/02/24		3,376
USD	26,610,402	NOK	270,057,000	Citibank N.A.		02/02/24		932,873
USD	20,498	NOK	214,000	Natwest Markets PLC		02/02/24		151
USD	7,697,892	NZD	12,157,000	Citibank N.A.		02/02/24		266,926
USD	28,448	NZD	45,000	Commonwealth Bank of Australia		02/02/24		942
USD	58,093	NZD	92,000	HSBC Bank PLC		02/02/24		1,859
USD	15,638	NZD	25,000	State Street Bank & Trust Company		02/02/24		356
USD	6,242	NZD	10,000	Toronto Dominion Bank		02/02/24		130
USD	247,265	SEK	2,526,000	Bank of America N.A.		02/02/24		4,535
USD	126,523,779	SEK	1,273,600,000	BNP Paribas SA		02/02/24		4,140,495
USD	98,198	SEK	1,010,000	Toronto Dominion Bank		02/02/24		1,145
USD	76,804	SGD	103,000	BNP Paribas SA		02/02/24		24
USD	46,787,612	SGD	61,638,000	Citibank N.A.		02/02/24		840,538
USD	173,699	SGD	229,000	Commonwealth Bank of Australia		02/02/24		2,994


S C H E D U L E O F I N V E S T M E N T S			21

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE ETF

Forward Foreign Currency Exchange Contracts (continued)



Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	96,485	SGD	128,000	JPMorgan Chase Bank N.A.		02/02/24	$	1,069
USD	586,409	SGD	774,000	State Street Bank & Trust Company		02/02/24		9,443
USD	38,321	SGD	51,000	Toronto Dominion Bank		02/02/24		304
USD	10,722,712	AUD	16,205,000	Bank of America N.A.		03/04/24		80,597
USD	283,539,074	AUD	428,499,000	BNP Paribas SA		03/04/24		2,136,056
USD	398,473,270	CHF	340,708,000	BNP Paribas SA		03/04/24		2,336,645
USD	136,169,729	DKK	932,908,000	BNP Paribas SA		03/04/24		699,009
USD	63,914,576	EUR	58,763,000	Citibank N.A.		03/04/24		327,356
USD	1,255,468,378	EUR	1,154,321,000	Morgan Stanley & Co. International PLC		03/04/24		6,382,001
USD	563,353,619	GBP	442,290,000	Bank of America N.A.		03/04/24		2,702,289
USD	22,746,556	GBP	17,858,000	BNP Paribas SA		03/04/24		109,573
USD	80,096,526	HKD	625,563,000	BNP Paribas SA		03/04/24		6,758
USD	14,353,435	ILS	52,167,000	BNP Paribas SA		03/04/24		37,754
USD	538,757	ILS	1,958,000	Morgan Stanley & Co. International PLC		03/04/24		1,442
USD	95,920,995	JPY	13,953,723,000	Citibank N.A.		03/04/24		652,994
USD	828,769,796	JPY	120,564,623,000	UBS AG		03/04/24		5,623,848
USD	25,459,865	NOK	266,021,000	BNP Paribas SA		03/04/24		146,891
USD	332,408	NZD	540,000	Citibank N.A.		03/04/24		2,314
USD	7,607,276	NZD	12,358,000	UBS AG		03/04/24		53,017
USD	121,950,353	SEK	1,258,487,000	BNP Paribas SA		03/04/24		868,524
USD	570,989	SGD	762,000	Bank of America N.A.		03/04/24		2,173
USD	47,047,257	SGD	62,784,000	BNP Paribas SA		03/04/24		180,340


								128,120,041

AUD	26,000	USD	17,620	Bank of New York		02/02/24		(562	)
AUD	428,499,000	USD	283,259,264	BNP Paribas SA		02/02/24		(2,142,483	)
CHF	318,690,000	USD	371,498,514	BNP Paribas SA		02/02/24		(2,195,541	)
CHF	1,296,000	USD	1,544,525	Citibank N.A.		02/02/24		(42,700	)
CHF	2,646,000	USD	3,156,106	HSBC Bank PLC		02/02/24		(89,879	)
CHF	19,000	USD	22,431	Toronto Dominion Bank		02/02/24		(413	)
DKK	862,868,000	USD	125,749,512	BNP Paribas SA		02/02/24		(651,760	)
DKK	2,699,000	USD	400,488	Citibank N.A.		02/02/24		(9,190	)
EUR	70,000	USD	76,740	JPMorgan Chase Bank N.A.		02/02/24		(1,091	)
EUR	1,154,321,000	USD	1,253,881,186	Morgan Stanley & Co. International PLC		02/02/24		(6,406,242	)
EUR	7,992,000	USD	8,832,386	State Street Bank & Trust Company		02/02/24		(195,430	)
GBP	442,290,000	USD	563,234,201	Bank of America N.A.		02/02/24		(2,719,981	)
GBP	1,659,000	USD	2,114,718	Morgan Stanley & Co. International PLC		02/02/24		(12,266	)
HKD	625,563,000	USD	80,023,410	BNP Paribas SA		02/02/24		(7,165	)
HKD	762,000	USD	97,654	Citibank N.A.		02/02/24		(186	)
HKD	38,000	USD	4,865	State Street Bank & Trust Company		02/02/24		(5	)
ILS	576,000	USD	159,668	Bank of America N.A.		02/02/24		(1,762	)
ILS	52,167,000	USD	14,340,261	BNP Paribas SA		02/02/24		(39,116	)
ILS	746,000	USD	207,310	Citibank N.A.		02/02/24		(2,801	)
JPY	4,700,797,000	USD	33,491,727	Citibank N.A.		02/02/24		(1,552,625	)
JPY	581,845,000	USD	4,143,868	HSBC Bank PLC		02/02/24		(190,579	)
JPY	7,318,000	USD	51,778	JPMorgan Chase Bank N.A.		02/02/24		(2,056	)
JPY	120,564,623,000	USD	824,787,999	UBS AG		02/02/24		(5,623,555	)
NOK	16,000	USD	1,550	Bank of America N.A.		02/02/24		(29	)
NOK	261,382,000	USD	24,996,844	BNP Paribas SA		02/02/24		(144,150	)


22		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE ETF

Forward Foreign Currency Exchange Contracts (continued)



Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

NOK	9,325,000	USD	918,899	Citibank N.A.		02/02/24	$	(32,260	)
NOK	1,944,000	USD	191,595	Toronto Dominion Bank		02/02/24		(6,756	)
NZD	1,000	USD	626	HSBC Bank PLC		02/02/24		(15	)
NZD	12,358,000	USD	7,606,967	UBS AG		02/02/24		(53,140	)
SEK	1,234,229,000	USD	119,452,883	BNP Paribas SA		02/02/24		(852,854	)
SEK	40,770,000	USD	4,050,361	Citibank N.A.		02/02/24		(132,674	)
SEK	5,168,000	USD	512,880	Toronto Dominion Bank		02/02/24		(16,274	)
SGD	62,784,000	USD	46,981,704	BNP Paribas SA		02/02/24		(180,362	)
SGD	135,000	USD	102,486	Citibank N.A.		02/02/24		(1,852	)
SGD	4,000	USD	3,020	Morgan Stanley & Co. International PLC		02/02/24		(38	)
USD	301,036	CHF	261,000	Bank of America N.A.		02/02/24		(1,415	)
USD	604,244	CHF	522,000	Toronto Dominion Bank		02/02/24		(658	)
USD	458,565	GBP	362,000	Toronto Dominion Bank		02/02/24		(198	)
USD	65,483	HKD	512,000	HSBC Bank PLC		02/02/24		(7	)
USD	40,677	ILS	150,000	Bank of America N.A.		02/02/24		(444	)
USD	11,612	ILS	43,000	Bank of New York		02/02/24		(176	)
USD	22,986	ILS	85,000	Commonwealth Bank of Australia		02/02/24		(316	)
USD	11,505	ILS	43,000	HSBC Bank PLC		02/02/24		(284	)
USD	2,002,448	JPY	296,106,000	HSBC Bank PLC		02/02/24		(9,415	)
USD	18,296	NZD	30,000	Toronto Dominion Bank		02/02/24		(41	)
USD	193,332	SEK	2,021,000	Bank of America N.A.		02/02/24		(871	)
USD	96,702	SEK	1,010,000	Bank of New York		02/02/24		(351	)
AUD	3,289,000	USD	2,170,567	JPMorgan Chase Bank N.A.		03/04/24		(10,621	)
CHF	2,915,000	USD	3,396,513	JPMorgan Chase Bank N.A.		03/04/24		(7,282	)
DKK	8,033,000	USD	1,169,707	JPMorgan Chase Bank N.A.		03/04/24		(3,208	)
EUR	7,441,000	USD	8,078,604	JPMorgan Chase Bank N.A.		03/04/24		(26,727	)
GBP	2,227,000	USD	2,831,636	JPMorgan Chase Bank N.A.		03/04/24		(8,668	)
HKD	15,264,000	USD	1,954,491	Bank of America N.A.		03/04/24		(267	)
HKD	22,625,000	USD	2,896,689	HSBC Bank PLC		03/04/24		(49	)
ILS	877,000	USD	240,967	Bank of America N.A.		03/04/24		(301	)
JPY	1,339,044,000	USD	9,180,666	State Street Bank & Trust Company		03/04/24		(38,443	)
NOK	3,723,000	USD	355,674	Bank of America N.A.		03/04/24		(1,415	)
NZD	125,000	USD	76,709	Toronto Dominion Bank		03/04/24		(299	)
SEK	10,893,000	USD	1,052,480	Bank of New York		03/04/24		(4,440	)
SGD	488,000	USD	365,029	JPMorgan Chase Bank N.A.		03/04/24		(747	)


								(23,424,435	)


							$	104,695,606

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 Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Assets — Derivative Financial Instruments
Forward foreign currency exchange contracts
Unrealized appreciation on forward foreign currency exchange contracts	$	—	$	—	$	—	$	128,120,041	$	—	$	—	$	128,120,041


S C H E D U L E O F I N V E S T M E N T S			23

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE ETF

Derivative Financial Instruments Categorized by Risk Exposure (continued)




	Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Liabilities — Derivative Financial Instruments
Forward foreign currency exchange contracts
Unrealized depreciation on forward foreign currency exchange contracts	$	—	$	—	$	—	$	23,424,435	$	—	$	—	$	23,424,435

For the period ended January 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:




	Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts			Interest Rate Contracts		Other Contracts		Total


Net Realized Gain (Loss) from
Forward foreign currency exchange contracts	$	—	$	—	$	—	$	(35,087,324	)	$	—	$	—	$	(35,087,324	)


Net Change in Unrealized Appreciation (Depreciation) on
Forward foreign currency exchange contracts	$	—	$	—	$	—	$	140,481,292		$	—	$	—	$	140,481,292

Average Quarterly Balances of Outstanding Derivative Financial Instruments




Forward foreign currency exchange contracts:
Average amounts purchased — in USD	$	3,773,197,893
Average amounts sold — in USD	$	7,508,681,865

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

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	$	128,120,041	$	23,424,435


Total derivative assets and liabilities in the Statement of Assets and Liabilities		128,120,041		23,424,435
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”)		—		—


Total derivative assets and liabilities subject to an MNA	$	128,120,041	$	23,424,435



Counterparty		Derivative Assets Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Received		Cash Collateral Received		Net Amount of Derivative Assets	^(b)(c)

Bank of America N.A.	$	2,876,263	$	(2,726,485	)	$	—	$	—	$	149,778
Bank of New York		41,302,289		(5,529	)		—		—		41,296,760
BNP Paribas SA		38,564,999		(6,213,431	)		—		—		32,351,568
Citibank N.A.		4,211,911		(1,774,288	)		—		—		2,437,623
Commonwealth Bank of Australia		3,936		(316	)		—		—		3,620
HSBC Bank PLC		123,738		(123,738	)		—		—		—
JPMorgan Chase Bank N.A.		69,557		(60,400	)		—		—		9,157
Morgan Stanley & Co. International PLC		6,383,443		(6,383,443	)		—		—		—
Natwest Markets PLC		12,134		—			—		—		12,134
State Street Bank & Trust Company		28,831,022		(233,878	)		—		—		28,597,144
Toronto Dominion Bank		18,928		(18,928	)		—		—		—
UBS AG		5,721,821		(5,676,695	)		—		—		45,126


	$	128,120,041	$	(23,217,131	)	$	—	$	—	$	104,902,910


24		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE ETF



Counterparty		Derivative Liabilities Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Pledged		Cash Collateral Pledged		Net Amount of Derivative Liabilities	^(c)(d)


Bank of America N.A.	$	2,726,485	$	(2,726,485	)	$	—	$	—	$	—
Bank of New York		5,529		(5,529	)		—		—		—
BNP Paribas SA		6,213,431		(6,213,431	)		—		—		—
Citibank N.A.		1,774,288		(1,774,288	)		—		—		—
Commonwealth Bank of Australia		316		(316	)		—		—		—
HSBC Bank PLC		290,228		(123,738	)		—		—		166,490
JPMorgan Chase Bank N.A.		60,400		(60,400	)		—		—		—
Morgan Stanley & Co. International PLC		6,418,546		(6,383,443	)		—		—		35,103
State Street Bank & Trust Company		233,878		(233,878	)		—		—		—
Toronto Dominion Bank		24,639		(18,928	)		—		—		5,711
UBS AG		5,676,695		(5,676,695	)		—		—		—


	$	23,424,435	$	(23,217,131	)	$	—	$	—	$	207,304

^(a)

The amount of derivatives available for offset is limited to the amount of derivative assets and/or liabilities that are subject to an MNA.

^(b)

Net amount represents the net amount receivable from the counterparty in the event of default.

^(c)

Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

^(d)

Net amount represents the net amount payable due to the counterparty in the event of default.

Fair Value Hierarchy as of Period End




	Level 1		Level 2			Level 3		Total


Assets
Investments
Long-Term Investments
Investment Companies	$	3,909,630,340	$	—		$	—	$	3,909,630,340
Short-Term Securities
Money Market Funds		440,925,414		—			—		440,925,414


	$	4,350,555,754	$	—		$	—	$	4,350,555,754

Derivative Financial Instruments^(a)
Assets
Foreign Currency Exchange Contracts	$	—	$	128,120,041		$	—	$	128,120,041
Liabilities
Foreign Currency Exchange Contracts		—		(23,424,435	)		—		(23,424,435	)


	$	—	$	104,695,606		$	—		104,695,606

^(a)

See notes to financial statements.


S C H E D U L E O F I N V E S T M E N T S			25

Schedule of Investments (unaudited)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 99.3%
iShares MSCI EAFE Small-Cap ETF^(a)		1,816,076	$	109,527,544


Total Investment Companies (Cost: $108,561,642)				109,527,544


Short-Term Securities

Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%^(a)(b)		70,000		70,000


Total Short-Term Securities — 0.1% (Cost: $70,000)				70,000


Total Investments in Securities — 99.4% (Cost: $108,631,642)				109,597,544

Other Assets Less Liabilities — 0.6%				647,091


Net Assets — 100.0%			$	110,244,635

^(a)	Affiliate of the Fund.

^(b)	Annualized 7-day yield as of period end.

Affiliates




Affiliated Issuer	Value at 07/31/23		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 01/31/24		Shares Held at 01/31/24		Income		Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Treasury, SL Agency Shares	$	40,000	$	30,000	^(a)	$	—		$	—		$	—	$	70,000		70,000	$	2,122	$	—
iShares MSCI EAFE Small-Cap ETF		97,000,997		23,031,286			(9,713,428	)		(897,130	)		105,819		109,527,544		1,816,076		1,460,938		—


									$	(897,130	)	$	105,819	$	109,597,544			$	1,463,060	$	—

^(a)

Represents net amount purchased (sold).

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts



Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	10,381,234	AUD	15,206,000	Bank of America N.A.		02/02/24	$	405,337
USD	53,985	AUD	82,000	Bank of New York		02/02/24		189
USD	3,297	AUD	5,000	Barclays Bank PLC		02/02/24		16
USD	40,929	AUD	60,000	Citibank N.A.		02/02/24		1,566
USD	55,142	AUD	82,000	Deutsche Bank Securities Inc.		02/02/24		1,346
USD	27,582	AUD	41,000	JPMorgan Chase Bank N.A.		02/02/24		684
USD	40,209	CHF	34,000	Bank of America N.A.		02/02/24		810
USD	4,969,231	CHF	4,170,000	Morgan Stanley & Co. International PLC		02/02/24		136,970
USD	12,161	DKK	83,000	Bank of America N.A.		02/02/24		128
USD	46,154	DKK	316,000	JPMorgan Chase Bank N.A.		02/02/24		340
USD	2,122,308	DKK	14,301,000	Morgan Stanley & Co. International PLC		02/02/24		48,963
USD	64,243	EUR	59,000	Bank of America N.A.		02/02/24		482
USD	112,758	EUR	104,000	Bank of New York		02/02/24		365
USD	230,522	EUR	212,000	BNP Paribas SA		02/02/24		1,413


26		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE Small-Cap ETF

Forward Foreign Currency Exchange Contracts (continued)



Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

USD	114,048	EUR	104,000	JPMorgan Chase Bank N.A.		02/02/24	$	1,655
USD	21,608,032	EUR	19,538,000	State Street Bank & Trust Company		02/02/24		493,311
USD	57,019	EUR	52,000	UBS AG		02/02/24		823
USD	185,418	GBP	146,000	Bank of America N.A.		02/02/24		392
USD	178,224	GBP	140,000	Bank of New York		02/02/24		802
USD	15,746,324	GBP	12,350,000	BNP Paribas SA		02/02/24		95,166
USD	606,900	GBP	476,000	Citibank N.A.		02/02/24		3,665
USD	44,396	GBP	35,000	JPMorgan Chase Bank N.A.		02/02/24		40
USD	44,648	GBP	35,000	UBS AG		02/02/24		292
USD	25,628	HKD	200,000	Bank of New York		02/02/24		46
USD	1,647,840	HKD	12,859,000	Citibank N.A.		02/02/24		3,035
USD	8,187	HKD	64,000	JPMorgan Chase Bank N.A.		02/02/24		1
USD	4,612	HKD	36,000	State Street Bank & Trust Company		02/02/24		7
USD	2,739,966	ILS	9,861,000	Citibank N.A.		02/02/24		36,656
USD	286,272	JPY	41,114,000	JPMorgan Chase Bank N.A.		02/02/24		6,927
USD	35,783,371	JPY	5,022,833,000	Morgan Stanley & Co. International PLC		02/02/24		1,656,227
USD	43,021	NOK	448,000	Bank of America N.A.		02/02/24		424
USD	2,545,684	NOK	25,835,000	Citibank N.A.		02/02/24		89,243
USD	97,061	NOK	985,000	Morgan Stanley & Co. International PLC		02/02/24		3,405
USD	849,080	NZD	1,341,000	Citibank N.A.		02/02/24		29,394
USD	1,876	NZD	3,000	State Street Bank & Trust Company		02/02/24		43
USD	51,684	SEK	528,000	Bank of America N.A.		02/02/24		947
USD	6,116,116	SEK	61,565,000	BNP Paribas SA		02/02/24		200,188
USD	262,266	SEK	2,640,000	Morgan Stanley & Co. International PLC		02/02/24		8,582
USD	1,971,294	SGD	2,597,000	Citibank N.A.		02/02/24		35,402
USD	15,829	SGD	21,000	JPMorgan Chase Bank N.A.		02/02/24		175
USD	20,313	SGD	27,000	State Street Bank & Trust Company		02/02/24		186
USD	254,090	AUD	384,000	Bank of America N.A.		03/04/24		1,910
USD	10,203,460	AUD	15,420,000	BNP Paribas SA		03/04/24		76,868
USD	5,133,276	CHF	4,389,000	Bank of America N.A.		03/04/24		30,244
USD	201,865	DKK	1,383,000	Bank of America N.A.		03/04/24		1,035
USD	2,143,746	DKK	14,687,000	BNP Paribas SA		03/04/24		10,998
USD	700,458	EUR	644,000	Citibank N.A.		03/04/24		3,588
USD	21,257,631	EUR	19,545,000	Morgan Stanley & Co. International PLC		03/04/24		108,060
USD	16,735,408	GBP	13,139,000	Bank of America N.A.		03/04/24		80,277
USD	1,541,298	HKD	12,038,000	Bank of America N.A.		03/04/24		93
USD	2,655,965	ILS	9,653,000	BNP Paribas SA		03/04/24		6,986
USD	148,860	ILS	541,000	Morgan Stanley & Co. International PLC		03/04/24		398
USD	3,014,587	JPY	438,535,000	Citibank N.A.		03/04/24		20,522
USD	35,347,443	JPY	5,142,141,000	UBS AG		03/04/24		239,860
USD	2,774,472	NOK	28,992,000	Bank of America N.A.		03/04/24		15,766
USD	52,939	NZD	86,000	Citibank N.A.		03/04/24		369
USD	707,911	NZD	1,150,000	UBS AG		03/04/24		4,934
USD	70,059	SEK	723,000	Bank of America N.A.		03/04/24		497
USD	6,393,906	SEK	65,983,000	BNP Paribas SA		03/04/24		45,535
USD	2,020,959	SGD	2,697,000	Bank of America N.A.		03/04/24		7,706


								3,921,289

AUD	15,420,000	USD	10,193,391	BNP Paribas SA		02/02/24		(77,100	)
AUD	100,000	USD	68,302	Morgan Stanley & Co. International PLC		02/02/24		(2,696	)
CHF	4,272,000	USD	4,980,649	Bank of America N.A.		02/02/24		(30,189	)
CHF	13,000	USD	15,493	Citibank N.A.		02/02/24		(428	)
DKK	13,000	USD	1,928	Bank of America N.A.		02/02/24		(44	)


S C H E D U L E O F I N V E S T M E N T S			27

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE Small-Cap ETF

Forward Foreign Currency Exchange Contracts (continued)



Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

DKK	14,687,000	USD	2,140,400	BNP Paribas SA		02/02/24	$	(11,094	)
EUR	126,000	USD	139,260	Bank of America N.A.		02/02/24		(3,092	)
EUR	19,943,000	USD	21,670,928	Morgan Stanley & Co. International PLC		02/02/24		(118,523	)
GBP	13,102,000	USD	16,684,742	Bank of America N.A.		02/02/24		(80,574	)
GBP	80,000	USD	101,999	Deutsche Bank Securities Inc.		02/02/24		(615	)
HKD	12,038,000	USD	1,539,928	Bank of America N.A.		02/02/24		(138	)
HKD	1,283,000	USD	164,422	Citibank N.A.		02/02/24		(313	)
ILS	9,653,000	USD	2,653,527	BNP Paribas SA		02/02/24		(7,238	)
ILS	407,000	USD	113,104	Citibank N.A.		02/02/24		(1,528	)
ILS	63,000	USD	17,463	JPMorgan Chase Bank N.A.		02/02/24		(192	)
JPY	7,783,000	USD	55,433	Bank of America N.A.		02/02/24		(2,552	)
JPY	12,867,000	USD	91,673	Citibank N.A.		02/02/24		(4,250	)
JPY	5,142,141,000	USD	35,177,617	UBS AG		02/02/24		(239,847	)
NOK	27,565,000	USD	2,636,601	Bank of America N.A.		02/02/24		(15,669	)
NZD	215,000	USD	136,144	Morgan Stanley & Co. International PLC		02/02/24		(4,725	)
NZD	1,150,000	USD	707,883	UBS AG		02/02/24		(4,945	)
SEK	15,000	USD	1,489	Bank of America N.A.		02/02/24		(48	)
SEK	65,983,000	USD	6,386,059	BNP Paribas SA		02/02/24		(45,594	)
SGD	2,655,000	USD	1,986,755	Bank of America N.A.		02/02/24		(7,627	)
SGD	26,000	USD	19,738	Citibank N.A.		02/02/24		(357	)
USD	26,869	AUD	41,000	Bank of America N.A.		02/02/24		(29	)
USD	1,967	AUD	3,000	BNP Paribas SA		02/02/24		(1	)
USD	40,424	CHF	35,000	Bank of America N.A.		02/02/24		(135	)
USD	51,881	CHF	45,000	JPMorgan Chase Bank N.A.		02/02/24		(266	)
USD	1,152	CHF	1,000	UBS AG		02/02/24		(7	)
USD	4,093	HKD	32,000	Barclays Bank PLC		02/02/24		—
USD	16,626	HKD	130,000	State Street Bank & Trust Company		02/02/24		(3	)
USD	56,443	ILS	211,000	Bank of America N.A.		02/02/24		(1,401	)
USD	13,769	ILS	51,000	BNP Paribas SA		02/02/24		(212	)
USD	563,448	JPY	83,300,000	Bank of America N.A.		02/02/24		(2,525	)
USD	105,120	JPY	15,544,000	JPMorgan Chase Bank N.A.		02/02/24		(492	)
USD	28,184	NOK	297,000	Bank of America N.A.		02/02/24		(55	)
USD	9,166	NZD	15,000	Bank of America N.A.		02/02/24		(2	)
USD	3,666	NZD	6,000	Deutsche Bank Securities Inc.		02/02/24		(1	)
USD	2,101	SEK	22,000	Bank of America N.A.		02/02/24		(12	)
USD	34,845	SEK	364,000	Bank of New York		02/02/24		(133	)
USD	16,862	SEK	176,000	Barclays Bank PLC		02/02/24		(50	)
USD	67,024	SEK	703,000	BNP Paribas SA		02/02/24		(529	)
USD	744	SGD	1,000	Morgan Stanley & Co. International PLC		02/02/24		(2	)
USD	26,046	SGD	35,000	State Street Bank & Trust Company		02/02/24		(44	)
AUD	91,000	USD	60,055	Bank of America N.A.		03/04/24		(293	)
CHF	35,000	USD	40,780	Bank of America N.A.		03/04/24		(86	)
DKK	32,000	USD	4,660	JPMorgan Chase Bank N.A.		03/04/24		(13	)
EUR	179,000	USD	194,340	JPMorgan Chase Bank N.A.		03/04/24		(645	)
GBP	101,000	USD	128,421	JPMorgan Chase Bank N.A.		03/04/24		(392	)
HKD	351,000	USD	44,944	Bank of America N.A.		03/04/24		(6	)
HKD	380,000	USD	48,652	Bank of New York		03/04/24		(1	)
ILS	200,000	USD	54,953	Bank of America N.A.		03/04/24		(69	)
JPY	70,892,000	USD	486,059	JPMorgan Chase Bank N.A.		03/04/24		(2,049	)
NOK	530,000	USD	50,633	Bank of America N.A.		03/04/24		(201	)
NZD	23,000	USD	14,115	Bank of America N.A.		03/04/24		(55	)
SEK	694,000	USD	67,052	Bank of New York		03/04/24		(281	)


28		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE Small-Cap ETF

Forward Foreign Currency Exchange Contracts (continued)



Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)

SGD	21,000	USD	15,708	JPMorgan Chase Bank N.A.		03/04/24	$	(32	)


								(669,400	)


								$3,251,889

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 Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Assets — Derivative Financial Instruments
Forward foreign currency exchange contracts
Unrealized appreciation on forward foreign currency exchange contracts	$	—	$	—	$	—	$	3,921,289	$	—	$	—	$	3,921,289


Liabilities — Derivative Financial Instruments
Forward foreign currency exchange contracts
Unrealized depreciation on forward foreign currency exchange contracts	$	—	$	—	$	—	$	669,400	$	—	$	—	$	669,400

For the period ended January 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:




	Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts			Interest Rate Contracts		Other Contracts		Total


Net Realized Gain (Loss) from
Forward foreign currency exchange contracts	$	—	$	—	$	—	$	(969,511	)	$	—	$	—	$	(969,511	)


Net Change in Unrealized Appreciation (Depreciation) on
Forward foreign currency exchange contracts	$	—	$	—	$	—	$	4,335,593		$	—	$	—	$	4,335,593

Average Quarterly Balances of Outstanding Derivative Financial Instruments




Forward foreign currency exchange contracts:
Average amounts purchased — in USD	$	107,417,421
Average amounts sold — in USD	$	211,931,196

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

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	$	3,921,289	$	669,400

Total derivative assets and liabilities in the Statement of Assets and Liabilities		3,921,289		669,400
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”)		—		—


Total derivative assets and liabilities subject to an MNA	$	3,921,289	$	669,400


S C H E D U L E O F I N V E S T M E N T S			29

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE Small-Cap ETF

Derivative Financial Instruments - Offsetting as of Period End (continued)




	Derivative Assets Subject to an MNA by			Derivatives Available					Non-Cash Collateral		Cash Collateral	Net Amount of Derivative
Counterparty	Counterparty					for Offset	^(a)		Received		Received			Assets	^(b)(c)


Bank of America N.A.		$	546,048		$	(144,802	)	$	—	$	—		$	401,246
Bank of New York			1,402			(415	)		—		—			987
Barclays Bank PLC			16			(16	)		—		—			—
BNP Paribas SA			437,154			(141,768	)		—		—			295,386
Citibank N.A.			223,440			(6,876	)		—		—			216,564
Deutsche Bank Securities Inc.			1,346			(616	)		—		—			730
JPMorgan Chase Bank N.A.			9,822			(4,081	)		—		—			5,741
Morgan Stanley & Co. International PLC			1,962,605			(125,946	)		—		—			1,836,659
State Street Bank & Trust Company			493,547			(47	)		—		—			493,500
UBS AG			245,909			(244,799	)		—		—			1,110


		$	3,921,289		$	(669,366	)	$	—	$	—		$	3,251,923




	Derivative Liabilities Subject to an MNA by			Derivatives Available					Non-Cash Collateral		Cash Collateral	Net Amount of Derivative
Counterparty	Counterparty					for Offset	^(a)		Pledged		Pledged			Liabilities	^(c)(d)


Bank of America N.A.		$	144,802		$	(144,802	)	$	—	$	—		$	—
Bank of New York			415			(415	)		—		—			—
Barclays Bank PLC			50			(16	)		—		—			34
BNP Paribas SA			141,768			(141,768	)		—		—			—
Citibank N.A.			6,876			(6,876	)		—		—			—
Deutsche Bank Securities Inc.			616			(616	)		—		—			—
JPMorgan Chase Bank N.A.			4,081			(4,081	)		—		—			—
Morgan Stanley & Co. International PLC			125,946			(125,946	)		—		—			—
State Street Bank & Trust Company			47			(47	)		—		—			—
UBS AG			244,799			(244,799	)		—		—			—


		$	669,400		$	(669,366	)	$	—	$	—		$	34

^(a)

The amount of derivatives available for offset is limited to the amount of derivative assets and/or liabilities that are subject to an MNA.

^(b)

Net amount represents the net amount receivable from the counterparty in the event of default.

^(c)

Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

^(d)

Net amount represents the net amount payable due to the counterparty in the event of default.

Fair Value Hierarchy as of Period End




	Level 1		Level 2		Level 3		Total


Assets
Investments
Long-Term Investments
Investment Companies	$	109,527,544	$	—	$	—	$	109,527,544
Short-Term Securities
Money Market Funds		70,000		—		—		70,000


	$	109,597,544	$	—	$	—	$	109,597,544


30		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® Currency Hedged MSCI EAFE Small-Cap ETF

Fair Value Hierarchy as of Period End (continued)




	Level 1		Level 2			Level 3		Total


Derivative Financial Instruments^(a)
Assets
Foreign Currency Exchange Contracts	$	—	$	3,921,289		$	—	$	3,921,289
Liabilities
Foreign Currency Exchange Contracts		—		(669,400	)		—		(669,400	)


	$	—	$	3,251,889		$	—		3,251,889

^(a)

See notes to financial statements.


S C H E D U L E O F I N V E S T M E N T S			31

Schedule of Investments (unaudited)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

Australia — 4.8%
Ampol Ltd.		44,772	$	1,058,969
ANZ Group Holdings Ltd.		537,685		9,487,119
APA Group		219,557		1,214,390
Aristocrat Leisure Ltd.		108,243		3,120,712
ASX Ltd.		35,975		1,538,016
Aurizon Holdings Ltd.		311,969		769,013
BHP Group Ltd.		915,450		28,007,285
BlueScope Steel Ltd.		85,908		1,311,670
Brambles Ltd.		251,413		2,397,164
CAR Group Ltd.		63,173		1,356,407
Cochlear Ltd.		12,230		2,427,030
Coles Group Ltd.		240,297		2,493,652
Commonwealth Bank of Australia		302,706		23,082,662
Computershare Ltd.		104,380		1,728,872
CSL Ltd.		86,908		17,066,778
Dexus		193,782		980,666
Endeavour Group Ltd./Australia		262,161		959,440
Fortescue Ltd.		306,691		5,927,339
Goodman Group		313,105		5,197,283
GPT Group (The)		339,015		1,024,630
IDP Education Ltd.		52,045		666,475
IGO Ltd.		130,957		636,610
Insurance Australia Group Ltd.		443,669		1,741,589
James Hardie Industries PLC^(a)		83,143		3,123,719
Lottery Corp. Ltd. (The)		379,913		1,247,020
Macquarie Group Ltd.		66,191		8,167,269
Medibank Pvt Ltd.		511,735		1,281,200
Mineral Resources Ltd.		31,323		1,208,091
Mirvac Group		738,388		1,037,731
National Australia Bank Ltd.		561,762		11,847,784
Northern Star Resources Ltd.		206,717		1,773,178
Orica Ltd.		83,360		879,189
Origin Energy Ltd.		311,878		1,740,654
Pilbara Minerals Ltd.^(b)		520,745		1,186,083
Qantas Airways Ltd.^(a)		172,213		620,890
QBE Insurance Group Ltd.		262,089		2,698,621
Ramsay Health Care Ltd.		32,980		1,099,505
REA Group Ltd.		9,471		1,129,575
Reece Ltd.		47,170		694,830
Rio Tinto Ltd.		68,046		5,855,178
Santos Ltd.		600,495		3,034,866
Scentre Group		949,093		1,886,842
SEEK Ltd.		66,818		1,101,513
Sonic Healthcare Ltd.		82,196		1,713,803
South32 Ltd.		848,674		1,837,563
Stockland		435,435		1,285,887
Suncorp Group Ltd.		226,387		2,083,787
Telstra Corp. Ltd.		718,264		1,894,301
Transurban Group		580,225		5,097,410
Treasury Wine Estates Ltd.		149,434		1,047,849
Vicinity Ltd.		658,911		874,643
Washington H Soul Pattinson & Co. Ltd.		44,721		999,655
Wesfarmers Ltd.		204,942		7,758,477
Westpac Banking Corp.		628,044		9,852,515
WiseTech Global Ltd.		31,161		1,467,094
Woodside Energy Group Ltd.		338,259		7,075,098
Woolworths Group Ltd.		217,139		5,099,499
Xero Ltd.^(a)		26,835		1,920,812


				215,815,902


Security	Shares		Value

Austria — 0.1%
Erste Group Bank AG		60,149	$	2,591,123
OMV AG		26,616		1,184,715
Verbund AG		13,368		1,087,063
voestalpine AG		20,538		611,041


				5,473,942

Belgium — 0.6%
Ageas SA/NV		29,683		1,275,538
Anheuser-Busch InBev SA/NV		157,660		9,752,468
Argenx SE^(a)		10,601		4,003,277
D’ieteren Group		3,647		736,740
Elia Group SA/NV		5,856		705,093
Groupe Bruxelles Lambert NV		15,706		1,190,667
KBC Group NV		44,350		2,893,021
Lotus Bakeries NV		81		690,665
Sofina SA		3,053		730,165
Syensqo SA^(a)		13,439		1,198,046
UCB SA		22,492		2,115,725
Umicore SA		36,714		835,113
Warehouses De Pauw CVA		31,003		907,059


				27,033,577

Brazil — 1.1%
Ambev SA		825,851		2,180,311
Atacadao SA		95,727		201,138
B3 SA - Brasil, Bolsa, Balcao		1,063,298		2,809,335
Banco Bradesco SA		259,819		717,408
Banco BTG Pactual SA		213,083		1,549,178
Banco do Brasil SA		148,484		1,691,814
Banco Santander Brasil SA		74,539		431,040
BB Seguridade Participacoes SA		125,370		866,689
CCR SA		179,616		475,650
Centrais Eletricas Brasileiras SA		200,810		1,654,097
Cia. de Saneamento Basico do Estado de Sao Paulo		65,539		1,043,195
Cia. Siderurgica Nacional SA		120,712		431,984
Cosan SA		235,209		867,364
CPFL Energia SA		37,324		273,165
Energisa SA		38,929		397,666
Eneva SA^(a)		170,913		440,184
Engie Brasil Energia SA		42,277		346,278
Equatorial Energia SA		174,030		1,244,527
Hapvida Participacoes e Investimentos SA^(a)(c)		902,827		707,042
Hypera SA		86,165		551,836
JBS SA		145,920		690,075
Klabin SA		134,884		579,622
Localiza Rent a Car SA		161,761		1,767,016
Lojas Renner SA		177,361		574,569
Magazine Luiza SA^(a)		554,601		235,076
Natura & Co. Holding SA^(a)		169,678		547,967
Petroleo Brasileiro SA		674,539		5,740,062
PRIO SA		148,152		1,313,644
Raia Drogasil SA		226,336		1,155,801
Rede D’Or Sao Luiz SA^(c)		108,200		592,934
Rumo SA		234,686		1,092,334
Sendas Distribuidora SA		231,546		638,406
Suzano SA		135,268		1,409,360
Telefonica Brasil SA		75,738		785,141
Tim SA		181,264		634,409
TOTVS SA		95,144		605,308
Ultrapar Participacoes SA		135,243		768,972
Vale SA		618,556		8,459,824
Vibra Energia SA		209,100		1,002,367


32		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Brazil (continued)
WEG SA		309,386	$	2,019,527


				49,492,315

Canada — 7.6%
Agnico Eagle Mines Ltd.		88,647		4,357,019
Air Canada^(a)		29,398		398,402
Algonquin Power & Utilities Corp.		120,297		713,130
Alimentation Couche-Tard Inc.		139,156		8,154,048
AltaGas Ltd.		51,370		1,067,940
ARC Resources Ltd.		108,544		1,685,744
Bank of Montreal		129,184		12,168,442
Bank of Nova Scotia (The)		216,693		10,133,132
Barrick Gold Corp.		317,597		4,960,792
BCE Inc.		13,052		526,662
Brookfield Asset Management Ltd.		60,621		2,437,555
Brookfield Corp., Class A		248,960		9,880,996
Brookfield Renewable Corp., Class A		24,453		683,145
BRP Inc.		6,623		417,937
CAE Inc.^(a)		55,809		1,117,467
Cameco Corp.		79,251		3,783,794
Canadian Apartment Properties REIT		14,231		494,002
Canadian Imperial Bank of Commerce		167,429		7,566,653
Canadian National Railway Co.		101,274		12,563,113
Canadian Natural Resources Ltd.		196,051		12,546,564
Canadian Pacific Kansas City Ltd.		168,673		13,573,381
Canadian Tire Corp. Ltd., Class A, NVS		9,955		1,058,105
Canadian Utilities Ltd., Class A, NVS		27,450		625,585
CCL Industries Inc., Class B, NVS		28,531		1,221,075
Cenovus Energy Inc.		257,707		4,174,836
CGI Inc.^(a)		38,887		4,354,812
Constellation Software Inc./Canada		3,638		10,054,891
Descartes Systems Group Inc. (The)^(a)		14,457		1,265,854
Dollarama Inc.		50,595		3,713,198
Element Fleet Management Corp.		69,509		1,172,572
Emera Inc.		50,858		1,797,213
Empire Co. Ltd., Class A, NVS		29,641		768,115
Enbridge Inc.		382,373		13,577,661
Fairfax Financial Holdings Ltd.		3,880		4,044,556
First Quantum Minerals Ltd.		104,960		952,443
FirstService Corp.		6,881		1,151,670
Fortis Inc./Canada		87,086		3,493,933
Franco-Nevada Corp.		33,728		3,649,131
George Weston Ltd.		11,695		1,490,091
GFL Environmental Inc.		41,841		1,421,620
Gildan Activewear Inc.		34,155		1,127,957
Great-West Lifeco Inc.		48,045		1,603,823
Hydro One Ltd.^(c)		65,040		1,930,229
iA Financial Corp. Inc.		18,216		1,238,382
IGM Financial Inc.		12,608		341,071
Imperial Oil Ltd.		36,092		2,081,844
Intact Financial Corp.		32,776		5,125,631
Ivanhoe Mines Ltd., Class A^(a)(b)		107,209		1,125,158
Keyera Corp.		37,400		904,644
Kinross Gold Corp.		230,616		1,271,051
Loblaw Companies Ltd.		28,849		2,882,861
Lundin Mining Corp.		124,605		1,017,638
Magna International Inc.		47,694		2,710,624
Manulife Financial Corp.		330,450		7,304,826
MEG Energy Corp.^(a)		50,596		956,637
Metro Inc./CN		42,477		2,230,244
National Bank of Canada		61,168		4,678,423
Northland Power Inc.		47,279		870,008
Nutrien Ltd.		88,718		4,423,857


Security	Shares		Value

Canada (continued)
Onex Corp.		13,555	$	1,000,859
Open Text Corp.		49,033		2,138,276
Pan American Silver Corp.		65,194		882,540
Parkland Corp.		28,018		956,128
Pembina Pipeline Corp.		99,351		3,422,176
Power Corp. of Canada		99,170		2,890,753
Quebecor Inc., Class B		25,387		617,279
RB Global Inc.		32,988		2,111,605
Restaurant Brands International Inc.		52,781		4,120,172
RioCan REIT		31,231		424,869
Rogers Communications Inc., Class B, NVS		63,823		2,981,207
Royal Bank of Canada		250,610		24,457,985
Saputo Inc.		45,564		939,443
Shopify Inc., Class A^(a)		216,926		17,366,020
Stantec Inc.		19,414		1,559,965
Sun Life Financial Inc.		107,026		5,547,727
Suncor Energy Inc.		234,457		7,763,789
TC Energy Corp.		185,086		7,301,842
Teck Resources Ltd., Class B		81,874		3,276,909
TELUS Corp.		84,103		1,506,341
TFI International Inc.		14,435		1,897,073
Thomson Reuters Corp.		29,268		4,345,409
TMX Group Ltd.		50,732		1,254,668
Toromont Industries Ltd.		14,062		1,231,687
Toronto-Dominion Bank (The)		327,544		19,896,998
Tourmaline Oil Corp.		59,730		2,582,547
West Fraser Timber Co. Ltd.		9,813		780,325
Wheaton Precious Metals Corp.		81,089		3,800,378
WSP Global Inc.		23,731		3,486,266


				343,583,423

Chile — 0.1%
Banco de Chile		7,095,399		794,177
Banco de Credito e Inversiones SA		17,240		456,495
Banco Santander Chile		11,883,387		549,565
Cencosud SA		263,121		457,901
Cia. Sud Americana de Vapores SA		2,410,093		173,668
Empresas CMPC SA		206,869		337,069
Empresas Copec SA		75,245		478,362
Enel Americas SA		3,811,309		386,255
Enel Chile SA		6,658,578		400,245
Falabella SA^(a)		150,263		356,651
Latam Airlines Group SA^(a)		28,613,454		353,590


				4,743,978

China — 6.8%
3SBio Inc.^(c)		370,500		279,190
AAC Technologies Holdings Inc.		125,000		280,692
AECC Aviation Power Co. Ltd., Class A		29,400		128,477
Agricultural Bank of China Ltd., Class A		1,784,700		965,787
Agricultural Bank of China Ltd., Class H		4,527,000		1,752,813
Aier Eye Hospital Group Co. Ltd., Class A		178,942		319,370
Air China Ltd., Class H^(a)		450,000		251,401
Akeso Inc.^(a)(b)(c)		99,000		502,693
Alibaba Group Holding Ltd.		2,946,964		26,431,243
Alibaba Health Information Technology Ltd.^(a)		964,000		354,227
Aluminum Corp. of China Ltd., Class H		910,000		443,499
Anhui Conch Cement Co. Ltd., Class A		146,198		470,081
Anhui Conch Cement Co. Ltd., Class H		168,000		336,492
Anhui Gujing Distillery Co. Ltd., Class A		10,300		285,472
Anhui Gujing Distillery Co. Ltd., Class B		19,800		255,850
Anjoy Foods Group Co. Ltd., Class A		13,700		141,792
ANTA Sports Products Ltd.		231,000		1,949,745


S C H E D U L E O F I N V E S T M E N T S		33

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

China (continued)
Asymchem Laboratories Tianjin Co. Ltd., Class A		11,000	$	131,186
Autohome Inc., ADR		13,964		351,893
AviChina Industry & Technology Co. Ltd., Class H		565,000		208,393
Baidu Inc.^(a)		405,088		5,244,758
Bank of Beijing Co. Ltd., Class A		982,698		696,870
Bank of China Ltd., Class A		622,100		374,011
Bank of China Ltd., Class H		14,086,000		5,286,055
Bank of Communications Co. Ltd., Class A		1,065,900		890,818
Bank of Communications Co. Ltd., Class H		1,584,800		937,575
Bank of Jiangsu Co. Ltd., Class A		382,600		389,664
Bank of Ningbo Co. Ltd., Class A		137,777		413,003
Bank of Shanghai Co. Ltd., Class A		513,099		456,797
Baoshan Iron & Steel Co. Ltd., Class A		432,196		370,173
BeiGene Ltd.^(a)		123,776		1,402,779
Beijing Enterprises Holdings Ltd.		90,000		325,739
Beijing Enterprises Water Group Ltd.		810,000		197,070
Beijing Kingsoft Office Software Inc., Class A		7,000		207,818
Beijing-Shanghai High Speed Railway Co. Ltd., Class A		613,500		423,964
Bilibili Inc.^(a)(b)		35,594		321,392
BOC Aviation Ltd.^(c)		32,300		242,165
BOE Technology Group Co. Ltd., Class A		783,400		392,308
Bosideng International Holdings Ltd.^(b)		632,000		285,700
Brilliance China Automotive Holdings Ltd.		488,000		260,177
BYD Co. Ltd., Class A		27,700		659,624
BYD Co. Ltd., Class H^(b)		192,000		4,298,910
BYD Electronic International Co. Ltd.		161,000		551,524
C&D International Investment Group Ltd.		115,000		189,900
CGN Power Co. Ltd.		169,800		90,263
CGN Power Co. Ltd., Class H^(c)		2,679,000		750,722
Changchun High & New Technology Industry Group Inc., Class A		14,300		227,288
China Cinda Asset Management Co. Ltd., Class H		1,574,000		151,020
China CITIC Bank Corp. Ltd., Class H		1,623,000		804,361
China Coal Energy Co. Ltd., Class H		390,000		428,290
China Communications Services Corp. Ltd., Class H		534,000		219,884
China Construction Bank Corp., Class H		17,698,050		10,510,221
China CSSC Holdings Ltd., Class A		89,500		380,762
China Energy Engineering Corp. Ltd.		342,100		100,465
China Everbright Bank Co. Ltd., Class A		933,200		409,297
China Everbright Bank Co. Ltd., Class H		566,000		168,037
China Everbright Environment Group Ltd.		873,037		304,498
China Feihe Ltd.^(c)		704,000		322,526
China Galaxy Securities Co. Ltd., Class H		785,000		384,623
China Gas Holdings Ltd.		564,200		514,394
China Hongqiao Group Ltd.		457,000		335,033
China International Capital Corp. Ltd., Class H^(c)		329,600		391,777
China Life Insurance Co. Ltd., Class A		89,100		357,093
China Life Insurance Co. Ltd., Class H		1,269,000		1,462,956
China Literature Ltd.^(a)(c)		71,800		208,834
China Longyuan Power Group Corp. Ltd., Class H		626,000		377,610
China Medical System Holdings Ltd.		286,000		408,703
China Mengniu Dairy Co. Ltd.		552,000		1,223,077
China Merchants Bank Co. Ltd., Class A		290,200		1,241,808
China Merchants Bank Co. Ltd., Class H		672,093		2,450,038
China Merchants Port Holdings Co. Ltd.		240,000		296,730
China Merchants Securities Co. Ltd., Class A		275,860		513,557
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		126,577		154,733
China Minsheng Banking Corp. Ltd., Class A		952,095		523,295
China Minsheng Banking Corp. Ltd., Class H		1,200,740		399,359


Security	Shares		Value

China (continued)
China National Building Material Co. Ltd., Class H		712,000	$	251,154
China National Nuclear Power Co. Ltd., Class A		448,600		517,448
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		93,800		220,252
China Oilfield Services Ltd., Class H		356,000		342,153
China Overseas Land & Investment Ltd.		675,000		1,021,133
China Overseas Property Holdings Ltd.		240,000		159,070
China Pacific Insurance Group Co. Ltd., Class A		179,297		622,258
China Pacific Insurance Group Co. Ltd., Class H		401,800		739,301
China Petroleum & Chemical Corp., Class A		576,398		478,503
China Petroleum & Chemical Corp., Class H		4,345,000		2,260,283
China Power International Development Ltd.		1,007,000		376,749
China Railway Group Ltd., Class A		432,196		379,936
China Railway Group Ltd., Class H		562,000		257,024
China Renewable Energy Investment Ltd.^(d)		7,401		—
China Resources Beer Holdings Co. Ltd.		292,000		1,055,971
China Resources Gas Group Ltd.		174,300		494,311
China Resources Land Ltd.		584,000		1,773,056
China Resources Mixc Lifestyle Services Ltd.^(c)		121,600		351,158
China Resources Pharmaceutical Group Ltd.^(c)		341,500		208,220
China Resources Power Holdings Co. Ltd.		356,000		720,224
China Ruyi Holdings Ltd.^(a)(b)		1,360,000		228,158
China Shenhua Energy Co. Ltd., Class A		138,800		718,722
China Shenhua Energy Co. Ltd., Class H		612,500		2,323,631
China Southern Airlines Co. Ltd., Class H^(a)		472,000		174,623
China State Construction Engineering Corp. Ltd., Class A		931,398		667,405
China State Construction International Holdings Ltd.		356,000		376,043
China Taiping Insurance Holdings Co. Ltd.		302,800		251,362
China Three Gorges Renewables Group Co. Ltd., Class A		678,700		418,293
China Tourism Group Duty Free Corp. Ltd.^(b)(c)		8,900		78,051
China Tourism Group Duty Free Corp. Ltd., Class A		39,298		436,923
China Tower Corp. Ltd., Class H^(c)		8,378,000		931,980
China Traditional Chinese Medicine Holdings Co. Ltd.		534,000		204,172
China United Network Communications Ltd., Class A		329,000		206,783
China Vanke Co. Ltd., Class A		210,800		282,136
China Vanke Co. Ltd., Class H		262,800		206,770
China Yangtze Power Co. Ltd., Class A		350,149		1,189,203
Chinasoft International Ltd.		518,000		295,185
Chongqing Changan Automobile Co. Ltd., Class A		205,900		366,722
Chongqing Zhifei Biological Products Co. Ltd., Class A		50,800		317,414
Chow Tai Fook Jewellery Group Ltd.		396,200		536,727
CITIC Ltd.		1,037,000		1,000,906
CITIC Securities Co. Ltd., Class A		185,400		529,630
CITIC Securities Co. Ltd., Class H		307,825		600,789
CMOC Group Ltd., Class A		452,400		338,181
CMOC Group Ltd., Class H		951,000		520,914
Contemporary Amperex Technology Co. Ltd., Class A		52,360		1,105,007
COSCO SHIPPING Energy Transportation Co. Ltd., Class H		270,000		251,051
COSCO Shipping Holdings Co. Ltd., Class A		281,730		389,904
COSCO Shipping Holdings Co. Ltd., Class H		523,749		550,265
COSCO SHIPPING Ports Ltd.		314,000		192,287
Country Garden Holdings Co. Ltd.^(a)(b)		2,185,828		177,283
Country Garden Services Holdings Co. Ltd.		386,000		254,989
CRRC Corp. Ltd., Class A		661,400		523,167
CRRC Corp. Ltd., Class H		794,000		369,046


34		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

China (continued)
CSC Financial Co. Ltd., Class A		129,300	$	402,442
CSPC Pharmaceutical Group Ltd.		1,790,960		1,317,590
Daqin Railway Co. Ltd., Class A		371,100		385,579
Daqo New Energy Corp., ADR^(a)(b)		11,781		212,647
Dongfeng Motor Group Co. Ltd., Class H		448,000		173,005
East Buy Holding Ltd.^(a)(b)(c)		72,500		213,009
East Money Information Co. Ltd., Class A		273,642		475,540
ENN Energy Holdings Ltd.		144,200		1,073,403
Eve Energy Co. Ltd., Class A		54,100		262,177
Far East Horizon Ltd.		274,000		200,472
Flat Glass Group Co. Ltd., Class H^(b)		130,000		195,523
Focus Media Information Technology Co. Ltd., Class A		251,550		197,874
Foshan Haitian Flavouring & Food Co. Ltd., Class A		78,196		369,952
Fosun International Ltd.		466,500		244,808
Foxconn Industrial Internet Co. Ltd., Class A		185,000		341,928
Fuyao Glass Industry Group Co. Ltd., Class H^(c)		146,400		661,862
Ganfeng Lithium Group Co. Ltd., Class A		69,500		329,245
Ganfeng Lithium Group Co. Ltd., Class H^(b)(c)		65,760		175,665
GCL-Poly Energy Holdings Ltd.		3,929,000		452,082
GDS Holdings Ltd.^(a)(b)		213,944		143,292
Geely Automobile Holdings Ltd.		1,088,000		1,031,270
Genscript Biotech Corp.^(a)(b)		220,000		365,181
GF Securities Co. Ltd., Class H		304,400		306,350
GoerTek Inc., Class A		113,000		239,076
Great Wall Motor Co. Ltd., Class H		490,500		482,950
Greentown China Holdings Ltd.		149,000		112,249
Guangdong Investment Ltd.		612,000		355,797
Guangzhou Automobile Group Co. Ltd., Class H		686,028		271,162
Guotai Junan Securities Co. Ltd., Class A		275,500		560,562
H World Group Ltd., ADR		35,857		1,139,177
Haidilao International Holding Ltd.^(c)		295,000		464,777
Haier Smart Home Co. Ltd., Class A		179,400		558,106
Haier Smart Home Co. Ltd., Class H		438,800		1,239,900
Haitian International Holdings Ltd.		123,000		273,786
Haitong Securities Co. Ltd., Class A		349,292		427,810
Haitong Securities Co. Ltd., Class H		238,800		110,073
Hangzhou Tigermed Consulting Co. Ltd., Class A		30,900		174,481
Hansoh Pharmaceutical Group Co. Ltd.^(c)		234,000		351,455
Henan Shuanghui Investment & Development Co. Ltd., Class A		111,000		439,897
Hengan International Group Co. Ltd.		111,500		345,259
Hengli Petrochemical Co. Ltd., Class A^(a)		174,600		285,093
Hua Hong Semiconductor Ltd.^(a)(c)		110,000		199,281
Huaneng Power International Inc., Class H^(a)		968,000		545,870
Huatai Securities Co. Ltd., Class A		186,500		357,039
Huatai Securities Co. Ltd., Class H^(c)		236,000		278,414
Huaxia Bank Co. Ltd., Class A		375,100		316,096
Hygeia Healthcare Holdings Co. Ltd.^(b)(c)		76,400		248,979
Iflytek Co. Ltd., Class A		45,100		239,625
Industrial & Commercial Bank of China Ltd., Class A		1,170,910		842,203
Industrial & Commercial Bank of China Ltd., Class H		11,626,285		5,663,509
Industrial Bank Co. Ltd., Class A		338,742		741,989
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		122,599		462,386
Inner Mongolia Yitai Coal Co. Ltd., Class B		250,800		474,417
Innovent Biologics Inc.^(a)(c)		225,000		906,505
iQIYI Inc., ADR^(a)		73,949		247,729
JA Solar Technology Co. Ltd., Class A		96,524		229,507
JD Health International Inc.^(a)(c)		201,450		664,742


Security	Shares		Value

China (continued)
JD Logistics Inc.^(a)(c)		356,600	$	311,374
JD.com Inc.		419,658		4,732,120
Jiangsu Expressway Co. Ltd., Class H		218,000		208,019
Jiangsu Hengli Hydraulic Co. Ltd., Class A		38,600		262,187
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A		108,556		566,914
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		26,300		334,701
Jiangxi Copper Co. Ltd., Class H		226,000		316,068
JOYY Inc., ADR		9,255		283,758
Kanzhun Ltd., ADR		39,866		554,536
KE Holdings Inc., ADR		119,185		1,688,851
Kingboard Holdings Ltd.		126,000		224,268
Kingboard Laminates Holdings Ltd.		218,000		131,022
Kingdee International Software Group Co. Ltd.^(a)		532,000		514,265
Kingsoft Corp. Ltd.		179,000		435,463
Kuaishou Technology^(a)(c)		415,200		2,092,748
Kunlun Energy Co. Ltd.		702,000		628,920
Kweichow Moutai Co. Ltd., Class A		14,900		3,330,427
Legend Biotech Corp., ADR^(a)		13,139		723,433
Lenovo Group Ltd.		1,310,000		1,371,663
Lens Technology Co. Ltd., Class A		215,225		312,646
Li Auto Inc.^(a)		207,406		2,866,956
Li Ning Co. Ltd.		434,500		928,232
Longfor Group Holdings Ltd.^(c)		327,000		362,580
LONGi Green Energy Technology Co. Ltd., Class A		129,296		348,081
Lufax Holding Ltd., Class A, ADR^(b)		36,378		86,216
Luxshare Precision Industry Co. Ltd., Class A		114,588		405,781
Luzhou Laojiao Co. Ltd., Class A		25,100		513,628
Mango Excellent Media Co. Ltd., Class A		62,800		186,808
Meituan, Class B^(a)(c)		916,960		7,375,314
Microport Scientific Corp.^(a)		174,400		128,797
MINISO Group Holding Ltd.		71,432		302,122
Minth Group Ltd.		152,000		246,382
Muyuan Foods Co. Ltd., Class A		93,058		456,756
NARI Technology Co. Ltd., Class A		196,344		573,500
NAURA Technology Group Co. Ltd., Class A		10,200		322,203
NetEase Inc.		353,885		6,878,855
New China Life Insurance Co. Ltd., Class A		68,100		289,629
New China Life Insurance Co. Ltd., Class H		117,900		210,408
New Hope Liuhe Co. Ltd., Class A^(a)		200,707		228,550
New Oriental Education & Technology Group Inc.^(a)		269,410		2,079,373
Nine Dragons Paper Holdings Ltd.^(a)		299,000		110,776
Ningbo Deye Technology Co. Ltd., NVS		14,313		134,768
Ningxia Baofeng Energy Group Co. Ltd., Class A		191,200		354,889
NIO Inc., ADR^(a)(b)		257,980		1,449,848
Nongfu Spring Co. Ltd., Class H^(c)		374,000		2,029,754
Orient Overseas International Ltd.		24,000		358,277
PDD Holdings Inc., ADR^(a)		108,092		13,713,632
People’s Insurance Co. Group of China Ltd. (The), Class H		1,669,000		518,855
PetroChina Co. Ltd., Class A		207,100		240,937
PetroChina Co. Ltd., Class H		3,936,000		2,847,167
PICC Property & Casualty Co. Ltd., Class H		1,244,285		1,547,722
Ping An Bank Co. Ltd., Class A		350,900		462,137
Ping An Healthcare and Technology Co. Ltd.^(a)(b)(c)		100,100		143,718
Ping An Insurance Group Co. of China Ltd., Class A		181,106		1,023,211
Ping An Insurance Group Co. of China Ltd., Class H		1,200,000		5,044,249
Poly Developments and Holdings Group Co. Ltd., Class A		254,300		338,901
Pop Mart International Group Ltd.^(c)		87,200		195,557
Postal Savings Bank of China Co. Ltd., Class A		313,400		206,478
Postal Savings Bank of China Co. Ltd., Class H^(c)		1,254,000		603,060


S C H E D U L E O F I N V E S T M E N T S		35

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

China (continued)
Qifu Technology Inc.		20,570	$	295,179
Rongsheng Petrochemical Co. Ltd., Class A		194,150		255,694
SAIC Motor Corp. Ltd., Class A		225,400		429,061
Sany Heavy Equipment International Holdings Co. Ltd		296,000		192,651
Sany Heavy Industry Co. Ltd., Class A		165,227		300,950
Seres Group Co. Ltd., NVS^(a)		21,900		172,763
SF Holding Co. Ltd., Class A		77,600		381,538
Shaanxi Coal Industry Co. Ltd., Class A		136,200		458,964
Shandong Gold Mining Co. Ltd., Class A		180,200		515,639
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		450,000		288,375
Shanghai Baosight Software Co. Ltd., Class B		178,534		351,741
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H		122,500		207,994
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		214,700		303,480
Shanghai Pudong Development Bank Co. Ltd., Class A		554,500		527,243
Shanghai United Imaging Healthcare Co. Ltd., NVS		8,990		168,693
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		17,880		498,689
Shenwan Hongyuan Group Co. Ltd., Class A		837,606		509,603
Shenzhen Inovance Technology Co. Ltd., Class A		41,200		320,878
Shenzhen Kangtai Biological Products Co. Ltd., Class A		59,180		172,028
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		17,600		657,985
Shenzhou International Group Holdings Ltd.		147,400		1,312,657
Sino Biopharmaceutical Ltd.		1,939,000		699,661
Sinomine Resource Group Co. Ltd., Class A		31,120		135,095
Sinopharm Group Co. Ltd., Class H		253,600		666,837
Sinotruk Hong Kong Ltd.		94,500		214,628
Smoore International Holdings Ltd.^(b)(c)		373,000		225,555
Sungrow Power Supply Co. Ltd., Class A		25,800		281,364
Sunny Optical Technology Group Co. Ltd.		129,700		797,186
Suzhou Maxwell Technologies Co. Ltd., Class A		7,200		102,804
TAL Education Group, ADR^(a)		79,026		840,837
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A		90,800		155,321
Tencent Holdings Ltd.		1,202,400		41,736,867
Tencent Music Entertainment Group, ADR^(a)		139,322		1,309,627
Tingyi Cayman Islands Holding Corp.		358,000		356,474
Tongcheng Travel Holdings Ltd.^(a)		251,200		512,411
Tongwei Co. Ltd., Class A		86,900		281,668
Topsports International Holdings Ltd.^(c)		318,000		206,122
TravelSky Technology Ltd., Class H		142,000		142,829
Trina Solar Co. Ltd.		39,617		127,550
Trip.com Group Ltd.^(a)		97,460		3,547,486
Tsingtao Brewery Co. Ltd., Class H		112,000		639,152
Uni-President China Holdings Ltd.		226,000		126,949
Vinda International Holdings Ltd.		73,000		215,695
Vipshop Holdings Ltd., ADR^(a)		67,187		1,067,601
Wanhua Chemical Group Co. Ltd., Class A		55,231		537,464
Want Want China Holdings Ltd.		945,000		520,974
Weibo Corp., ADR		11,173		90,501
Weichai Power Co. Ltd., Class H		434,000		766,211
Wens Foodstuffs Group Co. Ltd., Class A		112,160		293,134
Will Semiconductor Co. Ltd. Shanghai, Class A		25,785		309,803
Wingtech Technology Co. Ltd., Class A^(a)		35,500		165,303
Wuliangye Yibin Co. Ltd., Class A		52,800		930,722
WuXi AppTec Co. Ltd., Class A		47,014		356,262


Security	Shares		Value

China (continued)
WuXi AppTec Co. Ltd., Class H^(b)(c)		58,236	$	402,934
Wuxi Biologics Cayman Inc.^(a)(c)		684,500		1,801,285
Xiaomi Corp., Class B^(a)(c)		2,777,400		4,375,872
Xinyi Solar Holdings Ltd.		902,000		414,145
XPeng Inc.^(a)(b)		191,732		798,496
Xtep International Holdings Ltd.		271,500		133,703
Yadea Group Holdings Ltd.^(c)		264,000		361,971
Yankuang Energy Group Co. Ltd., Class H		483,000		992,315
Yonyou Network Technology Co. Ltd., Class A		108,100		168,103
Yuexiu Property Co. Ltd.		253,200		158,555
Yum China Holdings Inc.		75,799		2,621,887
Yunnan Baiyao Group Co. Ltd., Class A		58,498		378,729
Yunnan Energy New Material Co. Ltd., Class A		25,100		148,302
Zai Lab Ltd.^(a)		168,390		357,788
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		10,400		288,336
Zhaojin Mining Industry Co. Ltd., Class H		278,000		259,144
Zhejiang Expressway Co. Ltd., Class H		231,840		172,225
Zhejiang Huayou Cobalt Co. Ltd., Class A		47,300		163,981
Zhejiang Leapmotor Technology Co. Ltd.^(a)(b)(c)		83,472		225,564
ZhongAn Online P&C Insurance Co. Ltd., Class H^(a)(c)		124,700		194,815
Zhongsheng Group Holdings Ltd.		156,500		264,176
Zhuzhou CRRC Times Electric Co. Ltd.		117,000		287,218
Zijin Mining Group Co. Ltd., Class A		459,100		769,876
Zijin Mining Group Co. Ltd., Class H		986,000		1,463,090
ZTE Corp., Class A		43,200		131,949
ZTE Corp., Class H		130,800		227,301
ZTO Express Cayman Inc., ADR		77,391		1,266,117


				306,440,332

Colombia — 0.0%
Bancolombia SA		35,968		302,599
Interconexion Electrica SA ESP		75,843		328,382


				630,981

Czech Republic — 0.0%
CEZ AS		27,467		1,040,595
Komercni Banka AS		14,107		462,818
Moneta Money Bank AS^(c)		63,542		273,452


				1,776,865

Denmark — 2.3%
AP Moller - Maersk A/S, Class A		658		1,193,132
AP Moller - Maersk A/S, Class B, NVS		760		1,401,287
Carlsberg A/S, Class B		17,491		2,250,522
Coloplast A/S, Class B^(b)		25,057		2,888,363
Danske Bank A/S		122,090		3,278,294
Demant A/S^(a)		18,581		841,698
DSV A/S		33,463		5,986,856
Genmab A/S^(a)		12,090		3,343,151
Novo Nordisk A/S		589,383		67,369,061
Novozymes A/S, Class B		68,018		3,485,289
Orsted A/S^(c)		35,276		1,988,323
Pandora A/S		15,828		2,312,739
Rockwool A/S, Class B		1,779		485,003
Tryg A/S		63,961		1,367,110
Vestas Wind Systems A/S^(a)		185,416		5,227,806


				103,418,634

Egypt — 0.0%
Commercial International Bank Egypt SAE		462,852		605,365
Eastern Co. SAE		195,734		96,761


				702,126


36		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Finland — 0.7%
Elisa OYJ		25,256	$	1,150,700
Fortum OYJ		79,727		1,089,880
Kesko OYJ, Class B		52,508		1,025,460
Kone OYJ, Class B		60,058		2,972,949
Metso OYJ		118,830		1,187,663
Neste OYJ		77,368		2,667,224
Nokia OYJ		1,020,873		3,690,684
Nordea Bank Abp		570,732		7,032,783
Orion OYJ, Class B		20,073		924,115
Sampo OYJ, Class A		83,445		3,492,627
Stora Enso OYJ, Class R		104,092		1,324,546
UPM-Kymmene OYJ		97,543		3,547,856
Wartsila OYJ Abp		89,003		1,312,932


				31,419,419

France — 7.6%
Accor SA		32,357		1,277,891
Aeroports de Paris SA		5,541		741,440
Air Liquide SA		93,581		17,512,121
Airbus SE		106,136		16,905,962
Alstom SA		56,134		707,873
Amundi SA^(c)		11,169		755,444
ArcelorMittal SA		85,138		2,344,702
Arkema SA		10,897		1,185,953
AXA SA		326,846		10,970,687
BioMerieux		8,607		926,356
BNP Paribas SA		189,703		12,745,038
Bollore SE		158,093		1,044,209
Bouygues SA		36,421		1,334,196
Bureau Veritas SA		54,128		1,439,744
Capgemini SE		29,069		6,462,661
Carrefour SA		103,767		1,771,541
Cie. de Saint-Gobain		84,625		5,983,540
Cie. Generale des Etablissements Michelin SCA		123,873		4,112,913
Covivio SA/France		9,353		452,909
Credit Agricole SA		211,238		3,025,953
Danone SA		113,128		7,536,996
Dassault Aviation SA		4,542		860,293
Dassault Systemes SE		118,926		6,164,918
Edenred SE		44,456		2,655,289
Eiffage SA		12,285		1,285,382
Engie SA		326,322		5,212,169
EssilorLuxottica SA		52,370		10,263,106
Eurazeo SE		7,578		645,496
Eurofins Scientific SE		24,358		1,466,760
Euronext NV^(c)		15,183		1,335,454
Gecina SA		8,099		893,211
Getlink SE		64,314		1,108,200
Hermes International SCA		5,657		11,934,341
Ipsen SA		7,170		826,695
Kering SA		13,367		5,490,808
Klepierre SA		41,764		1,081,298
La Francaise des Jeux SAEM^(c)		17,211		697,624
Legrand SA		48,542		4,704,477
L’Oreal SA		43,441		20,788,865
LVMH Moet Hennessy Louis Vuitton SE		49,689		41,344,157
Orange SA		326,445		3,882,059
Pernod Ricard SA		36,787		6,032,536
Publicis Groupe SA		41,670		4,175,064
Remy Cointreau SA		4,185		424,041
Renault SA		34,050		1,282,312
Safran SA		61,888		11,555,037
Sanofi SA		204,551		20,484,869


Security	Shares		Value

France (continued)
Sartorius Stedim Biotech		5,128	$	1,381,674
Schneider Electric SE		97,807		19,214,184
SEB SA		4,730		577,582
Societe Generale SA		130,863		3,363,836
Sodexo SA		15,729		1,774,372
Teleperformance SE		10,967		1,712,761
Thales SA		19,197		2,807,639
TotalEnergies SE		411,129		26,672,234
Unibail-Rodamco-Westfield, New^(a)		21,060		1,507,995
Veolia Environnement SA		119,871		3,905,858
Vinci SA		94,399		11,924,695
Vivendi SE		119,096		1,342,159
Worldline SA/France^(a)(c)		42,916		580,159


				342,597,738

Germany — 5.1%
adidas AG		29,055		5,485,235
Allianz SE, Registered		73,137		19,540,448
BASF SE		157,899		7,548,202
Bayer AG, Registered		178,488		5,553,942
Bayerische Motoren Werke AG		57,775		6,011,668
Bechtle AG		15,030		779,348
Beiersdorf AG		17,535		2,566,066
Brenntag SE		26,287		2,324,033
Carl Zeiss Meditec AG, Bearer		7,585		799,548
Commerzbank AG		190,992		2,193,274
Continental AG		19,998		1,633,650
Covestro AG^(a)(c)		35,353		1,866,832
Daimler Truck Holding AG		93,142		3,328,630
Delivery Hero SE^(a)(c)		33,246		754,328
Deutsche Bank AG, Registered		343,318		4,434,888
Deutsche Boerse AG		33,973		6,765,371
Deutsche Lufthansa AG, Registered^(a)		109,398		909,685
Deutsche Post AG, Registered		178,583		8,553,081
Deutsche Telekom AG, Registered		584,469		14,347,434
E.ON SE		405,059		5,480,155
Evonik Industries AG		37,226		684,815
Fresenius Medical Care AG & Co. KGaA		36,321		1,403,792
Fresenius SE & Co. KGaA		77,830		2,184,909
GEA Group AG		27,425		1,098,345
Hannover Rueck SE		11,051		2,649,111
Heidelberg Materials AG		26,344		2,432,722
HelloFresh SE^(a)		31,231		413,022
Henkel AG & Co. KGaA		19,708		1,347,843
Infineon Technologies AG		236,545		8,623,703
Knorr-Bremse AG		12,877		795,362
LEG Immobilien SE^(a)		14,519		1,204,782
Mercedes-Benz Group AG		142,834		9,643,120
Merck KGaA		23,371		3,834,608
MTU Aero Engines AG		9,712		2,233,082
Muenchener Rueckversicherungs-Gesellschaft AGin Muenchen, Registered		24,766		10,543,355
Nemetschek SE		10,932		1,008,735
Puma SE		19,253		774,814
Rational AG		928		712,876
Rheinmetall AG		7,811		2,735,184
RWE AG		114,300		4,220,599
SAP SE		188,549		32,665,468
Scout24 SE^(c)		15,193		1,118,665
Siemens AG, Registered		137,029		24,531,458
Siemens Healthineers AG^(c)		50,637		2,818,011
Symrise AG, Class A		25,024		2,581,819
Talanx AG^(a)		11,404		800,116


S C H E D U L E O F I N V E S T M E N T S		37

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Germany (continued)
Volkswagen AG		6,820	$	962,855
Vonovia SE		131,286		4,089,868
Wacker Chemie AG		3,483		377,629
Zalando SE^(a)(b)(c)		39,845		795,570


				230,162,056

Greece — 0.1%
Alpha Services and Holdings SA^(a)		416,946		742,526
Eurobank Ergasias Services and Holdings SA, Class A^(a)		492,869		951,834
Hellenic Telecommunications Organization SA		34,927		484,956
JUMBO SA		23,107		649,265
Motor Oil Hellas Corinth Refineries SA		4,918		134,360
Mytilineos SA		20,645		847,820
National Bank of Greece SA^(a)		142,027		1,079,843
OPAP SA		39,345		681,173
Piraeus Financial Holdings SA^(a)		106,209		430,118
Public Power Corp. SA^(a)		45,305		599,493


				6,601,388

Hong Kong — 1.3%
AIA Group Ltd.		2,095,200		16,431,430
BOC Hong Kong Holdings Ltd.		675,500		1,619,034
Budweiser Brewing Co. APAC Ltd.^(c)		300,800		474,103
CK Asset Holdings Ltd.		344,060		1,552,516
CK Hutchison Holdings Ltd.		464,560		2,399,369
CK Infrastructure Holdings Ltd.		130,500		775,019
CLP Holdings Ltd.		295,500		2,350,241
ESR Group Ltd.^(b)(c)		447,000		571,388
Futu Holdings Ltd., ADR^(a)(b)		10,428		487,196
Galaxy Entertainment Group Ltd.		400,000		2,075,952
Hang Lung Properties Ltd.		361,000		419,106
Hang Seng Bank Ltd.		140,300		1,460,547
Henderson Land Development Co. Ltd.		234,617		611,323
HKT Trust & HKT Ltd., Class SS		658,000		790,429
Hong Kong & China Gas Co. Ltd.		2,026,748		1,442,288
Hong Kong Exchanges & Clearing Ltd.		224,400		6,803,538
Hongkong Land Holdings Ltd.		198,400		619,307
Jardine Matheson Holdings Ltd.		30,800		1,236,747
Link REIT		460,520		2,309,822
MTR Corp. Ltd.		259,000		842,607
New World Development Co. Ltd.		255,750		313,460
Power Assets Holdings Ltd.		248,500		1,455,013
Sands China Ltd.^(a)		443,200		1,163,298
Sino Land Co. Ltd.		684,000		714,482
SITC International Holdings Co. Ltd.		282,000		427,891
Sun Hung Kai Properties Ltd.		261,000		2,436,014
Swire Pacific Ltd., Class A		94,500		731,149
Swire Properties Ltd.		208,800		390,200
Techtronic Industries Co. Ltd.		248,500		2,639,344
WH Group Ltd.^(c)		1,477,500		871,717
Wharf Holdings Ltd. (The)^(b)		177,000		517,139
Wharf Real Estate Investment Co. Ltd.		299,000		876,020
Xinyi Glass Holdings Ltd.		374,000		310,055


				58,117,744

Hungary — 0.1%
MOL Hungarian Oil & Gas PLC		84,267		690,614
OTP Bank Nyrt		41,318		1,914,213
Richter Gedeon Nyrt		28,192		761,032


				3,365,859

India — 4.9%
ABB India Ltd.		9,068		510,716
Adani Enterprises Ltd.		29,952		1,133,580


Security	Shares		Value

India (continued)
Adani Green Energy Ltd.^(a)		56,270	$	1,139,828
Adani Ports & Special Economic Zone Ltd.		88,529		1,287,002
Adani Power Ltd.^(a)		127,509		865,606
Ambuja Cements Ltd.		114,476		770,459
APL Apollo Tubes Ltd.		30,787		557,972
Apollo Hospitals Enterprise Ltd.		19,269		1,473,385
Ashok Leyland Ltd.		219,673		465,048
Asian Paints Ltd.		71,053		2,523,910
Astral Ltd.		18,828		414,807
AU Small Finance Bank Ltd.^(c)		28,092		215,548
Aurobindo Pharma Ltd.		55,566		769,673
Avenue Supermarts Ltd.^(a)(c)		29,425		1,344,491
Axis Bank Ltd.		409,687		5,267,472
Bajaj Auto Ltd.		12,908		1,193,253
Bajaj Finance Ltd.		49,083		4,062,673
Bajaj Finserv Ltd.		72,969		1,429,688
Bajaj Holdings & Investment Ltd.		4,297		432,770
Balkrishna Industries Ltd.		14,900		440,348
Bandhan Bank Ltd.^(c)		125,976		347,053
Bank of Baroda		171,778		511,497
Berger Paints India Ltd.		36,180		246,225
Bharat Electronics Ltd.		602,023		1,348,390
Bharat Forge Ltd.		44,695		664,344
Bharat Petroleum Corp. Ltd.		156,356		947,682
Bharti Airtel Ltd.		408,244		5,758,904
Britannia Industries Ltd.		19,782		1,237,285
CG Power and Industrial Solutions Ltd.		121,260		684,097
Cholamandalam Investment and Finance Co. Ltd.		74,268		1,058,039
Cipla Ltd.		88,478		1,439,023
Coal India Ltd.		270,543		1,324,676
Colgate-Palmolive India Ltd.		24,645		763,255
Container Corp. of India Ltd.		37,246		397,569
Cummins India Ltd.		22,290		615,851
Dabur India Ltd.		111,309		723,011
Divi’s Laboratories Ltd.		22,430		991,523
DLF Ltd.		99,303		958,618
Dr. Reddy’s Laboratories Ltd.		19,554		1,436,768
Eicher Motors Ltd.		25,766		1,192,738
GAIL India Ltd.		483,517		1,006,096
Godrej Consumer Products Ltd.		77,408		1,085,499
Godrej Properties Ltd.^(a)		19,131		546,595
Grasim Industries Ltd.		54,853		1,436,749
Havells India Ltd.		44,118		687,409
HCL Technologies Ltd.		166,967		3,166,644
HDFC Asset Management Co. Ltd.^(c)		13,007		561,068
HDFC Bank Ltd.		509,439		8,958,922
HDFC Life Insurance Co. Ltd.^(c)		167,815		1,165,269
Hero MotoCorp Ltd.		22,208		1,236,346
Hindalco Industries Ltd.		232,031		1,615,996
Hindustan Aeronautics Ltd., NVS		35,513		1,285,121
Hindustan Petroleum Corp. Ltd.^(a)		113,306		632,334
Hindustan Unilever Ltd.		147,424		4,408,222
ICICI Bank Ltd.		967,790		11,986,207
ICICI Lombard General Insurance Co. Ltd.^(c)		38,795		698,107
ICICI Prudential Life Insurance Co. Ltd.^(c)		84,359		511,054
IDFC First Bank Ltd.^(a)		545,399		553,630
Indian Hotels Co. Ltd., Class A		132,409		785,161
Indian Oil Corp. Ltd.		464,916		823,305
Indian Railway Catering & Tourism Corp. Ltd.		43,939		516,828
Indraprastha Gas Ltd.		72,405		375,619
IndusInd Bank Ltd.		51,421		949,290
Info Edge India Ltd.		14,757		893,494


38		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

India (continued)
Infosys Ltd.		593,459	$	11,831,294
InterGlobe Aviation Ltd.^(a)(c)		25,644		914,518
ITC Ltd.		531,332		2,824,605
Jindal Steel & Power Ltd.		62,623		571,147
Jio Financial Services Ltd., NVS^(a)		574,620		1,715,648
JSW Steel Ltd.		120,895		1,190,372
Jubilant Foodworks Ltd.		78,679		492,284
Kotak Mahindra Bank Ltd.		195,141		4,288,966
Larsen & Toubro Ltd.		120,841		5,059,037
LTIMindtree Ltd.^(c)		16,341		1,070,315
Lupin Ltd.		43,658		790,610
Macrotech Developers Ltd.		42,029		542,326
Mahindra & Mahindra Ltd.		165,950		3,299,926
Marico Ltd.		109,998		699,652
Maruti Suzuki India Ltd.		23,663		2,902,292
Max Healthcare Institute Ltd.		136,720		1,285,738
Mphasis Ltd.		13,318		416,164
MRF Ltd.		431		739,049
Muthoot Finance Ltd.		17,747		298,219
Nestle India Ltd., NVS		61,330		1,849,992
NTPC Ltd.		771,654		2,954,393
Oil & Natural Gas Corp. Ltd.		580,068		1,762,080
One 97 Communications Ltd., NVS^(a)		39,706		363,042
Page Industries Ltd.		1,218		547,130
Persistent Systems Ltd.		8,190		821,964
Petronet LNG Ltd.		173,867		563,634
PI Industries Ltd.		16,526		671,570
Pidilite Industries Ltd.		32,840		1,000,932
Polycab India Ltd.		7,965		416,334
Power Finance Corp. Ltd.		261,366		1,395,592
Power Grid Corp. of India Ltd.		746,587		2,331,850
REC Ltd.		233,507		1,402,713
Reliance Industries Ltd.		548,246		18,835,817
Samvardhana Motherson International Ltd.		388,398		529,509
SBI Cards & Payment Services Ltd.		42,010		362,144
SBI Life Insurance Co. Ltd.^(c)		83,717		1,415,548
Shree Cement Ltd.		1,789		614,862
Shriram Finance Ltd.		50,066		1,488,171
Siemens Ltd.		12,895		642,887
Sona Blw Precision Forgings Ltd.^(c)		72,953		542,997
SRF Ltd.		25,376		709,774
State Bank of India		332,608		2,569,188
Sun Pharmaceutical Industries Ltd.		164,305		2,806,967
Supreme Industries Ltd.		9,865		490,808
Suzlon Energy Ltd.^(a)		1,577,752		872,415
Tata Communications Ltd.		16,285		340,657
Tata Consultancy Services Ltd.		162,768		7,476,112
Tata Consumer Products Ltd.		120,610		1,624,207
Tata Elxsi Ltd.		6,375		583,527
Tata Motors Ltd.		302,400		3,218,396
Tata Motors Ltd., Class A		73,575		517,412
Tata Power Co. Ltd. (The)		262,589		1,231,350
Tata Steel Ltd.		1,330,392		2,178,519
Tech Mahindra Ltd.		95,508		1,530,092
Titan Co. Ltd.		66,172		2,944,509
Torrent Pharmaceuticals Ltd.		14,640		446,148
Trent Ltd.		31,608		1,175,266
Tube Investments of India Ltd.		21,392		1,005,533
TVS Motor Co. Ltd.		41,047		989,037
UltraTech Cement Ltd.		21,354		2,610,995
United Spirits Ltd.		62,573		820,478
UPL Ltd.		94,523		611,660


Security	Shares		Value

India (continued)
Varun Beverages Ltd.		87,033	$	1,342,612
Vedanta Ltd.		144,202		476,103
Wipro Ltd.		221,547		1,267,127
Yes Bank Ltd.^(a)		2,292,545		665,803
Zomato Ltd.^(a)		923,204		1,551,109


				218,330,869

Indonesia — 0.5%
Adaro Energy Indonesia Tbk PT		3,117,700		472,727
Amman Mineral Internasional PT^(a)		1,179,500		562,676
Aneka Tambang Tbk		1,614,900		158,443
Astra International Tbk PT		3,518,500		1,140,136
Bank Central Asia Tbk PT		9,907,700		5,994,420
Bank Mandiri Persero Tbk PT		6,696,168		2,819,190
Bank Negara Indonesia Persero Tbk PT		2,712,300		986,776
Bank Rakyat Indonesia Persero Tbk PT		12,306,416		4,433,205
Barito Pacific Tbk PT		5,896,632		395,553
Charoen Pokphand Indonesia Tbk PT		1,519,200		431,182
GoTo Gojek Tokopedia Tbk PT^(a)		150,992,100		837,599
Indah Kiat Pulp & Paper Tbk PT		548,200		271,558
Indofood CBP Sukses Makmur Tbk PT		324,000		241,417
Indofood Sukses Makmur Tbk PT		591,300		238,920
Kalbe Farma Tbk PT		4,745,300		454,141
Merdeka Copper Gold Tbk PT^(a)		2,740,707		468,404
Sarana Menara Nusantara Tbk PT		3,412,000		191,924
Semen Indonesia Persero Tbk PT		417,930		164,137
Sumber Alfaria Trijaya Tbk PT		3,092,100		518,960
Telkom Indonesia Persero Tbk PT		8,953,100		2,245,678
Unilever Indonesia Tbk PT		1,434,300		281,770
United Tractors Tbk PT		263,745		383,118


				23,691,934

Ireland — 0.6%
AIB Group PLC		280,111		1,230,366
Bank of Ireland Group PLC		179,962		1,654,927
CRH PLC		133,129		9,444,387
Flutter Entertainment PLC^(a)		31,882		6,543,975
Kerry Group PLC, Class A		28,001		2,495,841
Kingspan Group PLC		29,618		2,405,473
Smurfit Kappa Group PLC		40,935		1,525,434


				25,300,403

Israel — 0.5%
Azrieli Group Ltd.		9,037		608,937
Bank Hapoalim BM		229,261		1,950,532
Bank Leumi Le-Israel BM		276,639		2,101,119
Check Point Software Technologies Ltd.^(a)		16,554		2,630,927
CyberArk Software Ltd.^(a)		8,067		1,883,483
Elbit Systems Ltd.		5,120		1,056,171
Global-e Online Ltd.^(a)		18,385		694,401
ICL Group Ltd.		131,444		597,845
Isracard Ltd.		1		4
Israel Discount Bank Ltd., Class A		233,894		1,134,594
Mizrahi Tefahot Bank Ltd.		29,493		1,097,650
Monday.com Ltd.^(a)		5,080		1,067,003
Nice Ltd.^(a)		11,611		2,409,072
Teva Pharmaceutical Industries Ltd., ADR^(a)		199,985		2,419,819
Wix.com Ltd.^(a)		10,142		1,286,817


				20,938,374

Italy — 1.7%
Amplifon SpA		22,828		745,072
Assicurazioni Generali SpA		175,331		3,911,094
Banco BPM SpA		197,697		1,066,633
DiaSorin SpA		4,565		419,793


S C H E D U L E O F I N V E S T M E N T S		39

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Italy (continued)
Enel SpA		1,441,768	$	9,837,725
Eni SpA		417,259		6,651,667
Ferrari NV		22,900		7,986,081
FinecoBank Banca Fineco SpA		107,184		1,545,418
Infrastrutture Wireless Italiane SpA^(c)		72,691		878,982
Intesa Sanpaolo SpA		2,818,893		8,685,837
Leonardo SpA		50,329		878,445
Mediobanca Banca di Credito Finanziario SpA		116,421		1,541,880
Moncler SpA		37,004		2,276,365
Nexi SpA^(a)(c)		113,208		868,358
Poste Italiane SpA^(c)		82,333		892,790
Prysmian SpA		46,632		2,052,266
Recordati Industria Chimica e Farmaceutica SpA		18,491		1,020,597
Snam SpA		376,091		1,836,807
Stellantis NV		400,027		8,811,252
Telecom Italia SpA/Milano^(a)(b)		1,752,915		528,341
Tenaris SA, NVS		88,138		1,392,077
Terna - Rete Elettrica Nazionale		257,302		2,169,583
UniCredit SpA		294,552		8,628,034


				74,625,097

Japan — 15.1%
Advantest Corp.		139,500		5,551,796
Aeon Co. Ltd.		115,900		2,769,683
AGC Inc.		35,600		1,338,853
Aisin Corp.		26,300		981,913
Ajinomoto Co. Inc.		81,300		3,338,578
ANA Holdings Inc.^(a)		27,900		616,539
Asahi Group Holdings Ltd.		86,500		3,215,027
Asahi Intecc Co. Ltd.		41,600		790,437
Asahi Kasei Corp.		223,400		1,694,163
Astellas Pharma Inc.		331,500		3,859,480
Azbil Corp.		23,500		759,395
Bandai Namco Holdings Inc.		110,000		2,381,779
BayCurrent Consulting Inc.		24,700		574,250
Bridgestone Corp.		104,200		4,515,265
Brother Industries Ltd.		45,500		762,242
Canon Inc.		179,400		4,941,954
Capcom Co. Ltd.		33,100		1,262,393
Central Japan Railway Co.		130,900		3,271,536
Chiba Bank Ltd. (The)		93,500		692,859
Chubu Electric Power Co. Inc.		112,000		1,452,941
Chugai Pharmaceutical Co. Ltd.		122,700		4,413,546
Concordia Financial Group Ltd.		163,600		779,627
Dai Nippon Printing Co. Ltd.		40,800		1,180,750
Daifuku Co. Ltd.		56,900		1,122,068
Dai-ichi Life Holdings Inc.		169,400		3,715,410
Daiichi Sankyo Co. Ltd.		335,700		10,050,534
Daikin Industries Ltd.		47,800		7,659,099
Daito Trust Construction Co. Ltd.		10,600		1,205,755
Daiwa House Industry Co. Ltd.		106,300		3,287,002
Daiwa House REIT Investment Corp.		467		825,143
Daiwa Securities Group Inc.		249,500		1,788,132
Denso Corp.		337,900		5,307,750
Dentsu Group Inc.		37,600		997,952
Disco Corp.		16,700		4,506,311
East Japan Railway Co.		53,700		3,071,244
Eisai Co. Ltd.		46,600		2,194,330
ENEOS Holdings Inc.		517,700		2,090,759
FANUC Corp.		176,700		4,887,940
Fast Retailing Co. Ltd.		31,700		8,463,163
Fuji Electric Co. Ltd.		22,900		1,146,832
FUJIFILM Holdings Corp.		67,800		4,297,496


Security	Shares		Value

Japan (continued)
Fujitsu Ltd.		32,500	$	4,498,463
GLP J-REIT		922		823,192
Hamamatsu Photonics KK		27,900		1,102,187
Hankyu Hanshin Holdings Inc.		41,200		1,260,536
Hikari Tsushin Inc.		3,900		679,574
Hirose Electric Co. Ltd.		6,700		779,564
Hitachi Construction Machinery Co. Ltd.		19,000		539,076
Hitachi Ltd.		168,500		13,235,734
Honda Motor Co. Ltd.		831,400		9,293,439
Hoshizaki Corp.		23,500		854,962
Hoya Corp.		64,600		8,206,078
Hulic Co. Ltd.		68,300		754,192
Ibiden Co. Ltd.		22,000		1,107,039
Idemitsu Kosan Co. Ltd.		177,860		987,653
Iida Group Holdings Co. Ltd.		25,700		387,991
Inpex Corp.		176,100		2,393,631
Isuzu Motors Ltd.		103,700		1,414,980
ITOCHU Corp.		214,200		9,721,275
Japan Airlines Co. Ltd.		26,200		503,453
Japan Exchange Group Inc.		92,700		2,051,609
Japan Metropolitan Fund Invest		1,283		870,956
Japan Post Bank Co. Ltd.		266,900		2,775,719
Japan Post Holdings Co. Ltd.		387,600		3,710,371
Japan Post Insurance Co. Ltd.		34,400		644,033
Japan Real Estate Investment Corp.		222		851,046
Japan Tobacco Inc.		217,500		5,732,731
JFE Holdings Inc.		100,200		1,582,040
JSR Corp.		35,300		962,795
Kajima Corp.		72,600		1,295,682
Kansai Electric Power Co. Inc. (The)		133,500		1,821,225
Kao Corp.		82,300		3,256,410
Kawasaki Kisen Kaisha Ltd.		27,200		1,325,287
KDDI Corp.		266,300		8,823,860
KDX Realty Investment Corp.		750		813,556
Keisei Electric Railway Co. Ltd.		24,400		1,104,097
Keyence Corp.		35,300		15,793,145
Kikkoman Corp.		26,200		1,612,039
Kintetsu Group Holdings Co. Ltd.		33,300		1,027,553
Kirin Holdings Co. Ltd.		138,800		1,995,105
Kobe Bussan Co. Ltd.		27,400		700,144
Koei Tecmo Holdings Co. Ltd.		21,700		270,299
Koito Manufacturing Co. Ltd.		39,000		597,062
Komatsu Ltd.		163,800		4,660,102
Konami Group Corp.		17,200		1,057,769
Kose Corp.		6,300		412,163
Kubota Corp.		181,700		2,750,477
Kyocera Corp.		232,800		3,408,208
Kyowa Kirin Co. Ltd.		49,300		776,572
Lasertec Corp.		14,100		3,672,049
LY Corp.		468,100		1,456,274
M3 Inc.		81,800		1,290,804
Makita Corp.		42,300		1,138,504
Marubeni Corp.		260,300		4,439,849
MatsukiyoCocokara & Co.		62,800		1,141,501
Mazda Motor Corp.		102,800		1,246,290
McDonald’s Holdings Co. Japan Ltd.		15,000		667,867
MEIJI Holdings Co. Ltd.		41,180		995,922
MINEBEA MITSUMI Inc.		68,400		1,413,842
MISUMI Group Inc.		57,100		978,973
Mitsubishi Chemical Group Corp.		221,900		1,337,999
Mitsubishi Corp.		620,300		10,690,835
Mitsubishi Electric Corp.		349,100		5,180,748


40		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Japan (continued)
Mitsubishi Estate Co. Ltd.		206,100	$	2,855,704
Mitsubishi HC Capital Inc.		143,600		1,018,188
Mitsubishi Heavy Industries Ltd.		57,600		3,842,120
Mitsubishi UFJ Financial Group Inc.		2,055,300		19,251,063
Mitsui & Co. Ltd.		234,300		9,502,558
Mitsui Chemicals Inc.		30,900		909,395
Mitsui Fudosan Co. Ltd.		161,600		4,056,769
Mitsui OSK Lines Ltd.		61,100		2,194,740
Mizuho Financial Group Inc.		434,660		7,894,104
MonotaRO Co. Ltd.		47,000		442,656
MS&AD Insurance Group Holdings Inc.		78,400		3,237,507
Murata Manufacturing Co. Ltd.		314,500		6,350,422
NEC Corp.		45,800		2,992,787
Nexon Co. Ltd.		63,300		1,010,206
Nidec Corp.		78,600		2,931,530
Nintendo Co. Ltd.		187,000		10,447,856
Nippon Building Fund Inc.		263		1,064,127
Nippon Express Holdings Inc.		13,400		797,586
Nippon Paint Holdings Co. Ltd.		178,000		1,401,986
Nippon Prologis REIT Inc.		451		802,420
Nippon Sanso Holdings Corp.		35,400		897,011
Nippon Steel Corp.		152,086		3,659,898
Nippon Telegraph & Telephone Corp.		5,418,300		6,804,053
Nippon Yusen KK		90,400		3,115,262
Nissan Chemical Corp.		24,600		981,117
Nissan Motor Co. Ltd.		410,600		1,611,944
Nissin Foods Holdings Co. Ltd.		39,000		1,261,704
Nitori Holdings Co. Ltd.		15,000		1,963,226
Nitto Denko Corp.		27,200		2,256,453
Nomura Holdings Inc.		541,900		2,918,752
Nomura Real Estate Holdings Inc.		23,200		634,884
Nomura Real Estate Master Fund Inc.		725		793,342
Nomura Research Institute Ltd.		73,100		2,235,655
NTT Data Group Corp.		116,100		1,672,261
Obayashi Corp.		116,900		1,082,089
Obic Co. Ltd.		12,800		1,966,202
Odakyu Electric Railway Co. Ltd.		59,500		909,189
Oji Holdings Corp.		142,400		556,760
Olympus Corp.		217,800		3,224,238
Omron Corp.		34,100		1,533,315
Ono Pharmaceutical Co. Ltd.		71,600		1,290,528
Open House Group Co. Ltd.		16,000		500,354
Oracle Corp. Japan		7,900		622,592
Oriental Land Co. Ltd./Japan		195,800		7,272,026
ORIX Corp.		213,900		4,130,252
Osaka Gas Co. Ltd.		72,700		1,530,833
Otsuka Corp.		19,200		807,893
Otsuka Holdings Co. Ltd.		74,300		2,920,608
Pan Pacific International Holdings Corp.		69,000		1,491,537
Panasonic Holdings Corp.		403,000		3,795,767
Rakuten Group Inc.^(a)		267,000		1,172,866
Recruit Holdings Co. Ltd.		260,700		10,297,315
Renesas Electronics Corp.^(a)		270,700		4,441,531
Resona Holdings Inc.		386,300		2,132,476
Ricoh Co. Ltd.		106,300		835,517
Rohm Co. Ltd.		65,000		1,121,850
SBI Holdings Inc.		47,400		1,164,412
SCSK Corp.		26,900		528,171
Secom Co. Ltd.		38,600		2,801,601
Seiko Epson Corp.		50,500		737,169
Sekisui Chemical Co. Ltd.		67,400		962,306
Sekisui House Ltd.		108,600		2,451,557


Security	Shares		Value


Japan (continued)
Seven & i Holdings Co. Ltd.		135,200	$	5,339,699
SG Holdings Co. Ltd.		58,100		752,401
Sharp Corp./Japan^(a)		49,200		330,836
Shimadzu Corp.		42,200		1,166,913
Shimano Inc.		14,100		2,024,412
Shimizu Corp.		98,000		656,024
Shin-Etsu Chemical Co. Ltd.		329,500		12,969,839
Shionogi & Co. Ltd.		49,100		2,356,624
Shiseido Co. Ltd.		73,100		2,037,786
Shizuoka Financial Group Inc., NVS		81,600		745,824
SMC Corp.		10,500		5,844,767
SoftBank Corp.		524,200		6,964,439
SoftBank Group Corp.		183,900		7,939,074
Sompo Holdings Inc.		55,900		2,898,495
Sony Group Corp.		227,200		22,281,120
Square Enix Holdings Co. Ltd.		14,400		562,698
Subaru Corp.		108,200		2,158,515
SUMCO Corp.		60,600		918,721
Sumitomo Chemical Co. Ltd.		249,400		587,232
Sumitomo Corp.		190,100		4,371,889
Sumitomo Electric Industries Ltd.		126,200		1,677,400
Sumitomo Metal Mining Co. Ltd.		45,200		1,249,268
Sumitomo Mitsui Financial Group Inc.		228,300		11,874,647
Sumitomo Mitsui Trust Holdings Inc.		111,600		2,287,048
Sumitomo Realty & Development Co. Ltd.		50,500		1,588,181
Suntory Beverage & Food Ltd.		23,300		760,157
Suzuki Motor Corp.		67,700		3,040,993
Sysmex Corp.		30,800		1,668,506
T&D Holdings Inc.		95,400		1,579,704
Taisei Corp.		31,600		1,152,091
Takeda Pharmaceutical Co. Ltd.		288,113		8,467,779
TDK Corp.		72,200		3,592,297
Terumo Corp.		121,300		4,106,242
TIS Inc.		40,500		900,794
Tobu Railway Co. Ltd.		34,600		916,321
Toho Co. Ltd./Tokyo		19,500		635,207
Tokio Marine Holdings Inc.		325,700		8,587,869
Tokyo Electric Power Co. Holdings Inc.^(a)		270,200		1,438,586
Tokyo Electron Ltd.		85,500		15,866,442
Tokyo Gas Co. Ltd.		71,300		1,637,894
Tokyu Corp.		94,000		1,103,022
TOPPAN Holdings Inc.		47,500		1,309,311
Toray Industries Inc.		247,200		1,235,117
Tosoh Corp.		47,300		609,917
TOTO Ltd.		23,800		644,153
Toyota Industries Corp.		27,200		2,300,552
Toyota Motor Corp.		1,914,100		38,220,395
Toyota Tsusho Corp.		39,100		2,562,279
Trend Micro Inc./Japan^(a)		25,400		1,453,118
Unicharm Corp.		72,500		2,494,607
USS Co. Ltd.		41,800		790,497
West Japan Railway Co.		38,900		1,620,166
Yakult Honsha Co. Ltd.		46,300		1,011,265
Yamaha Corp.		25,800		567,356
Yamaha Motor Co. Ltd.		156,000		1,474,472
Yamato Holdings Co. Ltd.		47,900		828,020
Yaskawa Electric Corp.		45,300		1,707,189
Yokogawa Electric Corp.		44,300		870,526
Zensho Holdings Co. Ltd.		17,200		842,262
ZOZO Inc.		23,500		514,568


				678,822,223


S C H E D U L E O F I N V E S T M E N T S		41

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Kazakhstan — 0.0%
Polymetal International PLC^(a)(d)		52,614	$	6


Kuwait — 0.2%
Agility Public Warehousing Co. KSC^(a)		309,479		582,344
Boubyan Bank KSCP		318,056		633,928
Gulf Bank KSCP		193,536		182,158
Kuwait Finance House KSCP		1,430,546		3,585,669
Mabanee Co. KPSC		120,124		300,798
Mobile Telecommunications Co. KSCP		476,021		813,559
National Bank of Kuwait SAKP		1,327,443		4,226,609


				10,325,065

Malaysia — 0.4%
AMMB Holdings Bhd		139,600		124,984
Axiata Group Bhd		582,100		335,385
CELCOMDIGI Bhd		717,700		642,963
CIMB Group Holdings Bhd		1,107,700		1,458,999
Dialog Group Bhd		747,300		289,009
Gamuda Bhd^(b)		101,500		108,367
Genting Bhd		416,800		415,221
Genting Malaysia Bhd		550,800		313,837
Hong Leong Bank Bhd		146,700		595,369
IHH Healthcare Bhd		496,400		640,455
Inari Amertron Bhd		572,900		383,518
IOI Corp. Bhd		620,200		522,922
Kuala Lumpur Kepong Bhd^(b)		84,500		396,270
Malayan Banking Bhd		975,600		1,908,271
Malaysia Airports Holdings Bhd		211,200		343,431
Maxis Bhd		599,300		481,467
MISC Bhd		168,200		261,084
MR DIY Group M Bhd^(c)		318,700		92,982
Petronas Chemicals Group Bhd		478,500		683,925
Petronas Dagangan Bhd		61,800		278,819
Petronas Gas Bhd		180,600		677,345
PPB Group Bhd		192,800		589,405
Press Metal Aluminium Holdings Bhd		829,400		830,098
Public Bank Bhd		2,650,000		2,456,594
RHB Bank Bhd		385,595		456,157
Sime Darby Bhd		511,200		262,290
Sime Darby Plantation Bhd		413,900		385,977
Telekom Malaysia Bhd		131,500		164,346
Tenaga Nasional Bhd		410,400		930,124


				17,029,614

Mexico — 0.8%
Alfa SAB de CV, Class A		371,500		292,253
America Movil SAB de CV		3,370,274		3,044,927
Arca Continental SAB de CV		80,400		913,519
Banco del Bajio SA^(c)		133,600		508,272
Cemex SAB de CV, NVS^(a)		2,795,708		2,322,786
Coca-Cola Femsa SAB de CV		90,200		858,738
Fibra Uno Administracion SA de CV		623,900		1,060,646
Fomento Economico Mexicano SAB de CV		351,300		4,764,486
Gruma SAB de CV, Class B		29,315		548,778
Grupo Aeroportuario del Centro Norte SAB de CV, Class B		54,142		495,666
Grupo Aeroportuario del Pacifico SAB de CV, Class B		73,800		1,148,924
Grupo Aeroportuario del Sureste SAB de CV, Class B		40,195		1,171,719
Grupo Bimbo SAB de CV, Series A		269,300		1,228,564
Grupo Carso SAB de CV, Series A1		102,600		961,888
Grupo Financiero Banorte SAB de CV, Class O		466,100		4,740,753
Grupo Financiero Inbursa SAB de CV, Class O^(a)		362,500		1,070,977


Security	Shares		Value


Mexico (continued)
Grupo Mexico SAB de CV, Series B		579,729	$	2,991,357
Industrias Penoles SAB de CV^(a)		34,780		457,375
Kimberly-Clark de Mexico SAB de CV, Class A		351,800		802,059
Operadora De Sites Mexicanos SAB de CV		291,600		316,818
Orbia Advance Corp. SAB de CV		168,400		335,792
Prologis Property Mexico SA de CV		132,408		545,664
Promotora y Operadora de Infraestructura SAB de CV		31,720		312,104
Wal-Mart de Mexico SAB de CV		924,600		3,820,022


				34,714,087

Netherlands — 3.2%
ABN AMRO Bank NV, CVA^(c)		85,834		1,263,252
Adyen NV^(a)(c)		3,958		4,964,071
Aegon Ltd.		301,617		1,779,370
AerCap Holdings NV^(a)		36,350		2,782,956
Akzo Nobel NV		30,841		2,368,973
ASM International NV		8,398		4,654,454
ASML Holding NV		73,081		63,404,190
ASR Nederland NV		27,036		1,274,112
BE Semiconductor Industries NV		14,536		2,184,445
Davide Campari-Milano NV		92,270		934,809
EXOR NV, NVS		18,723		1,811,497
Ferrovial SE		97,163		3,705,333
Heineken Holding NV		22,572		1,893,963
Heineken NV		51,353		5,165,881
IMCD NV		10,516		1,605,170
ING Groep NV		653,118		9,279,804
JDE Peet’s NV		21,279		525,280
Koninklijke Ahold Delhaize NV		173,838		4,888,872
Koninklijke KPN NV		613,932		2,088,438
Koninklijke Philips NV^(a)		143,385		3,033,390
NEPI Rockcastle NV		87,596		589,884
NN Group NV		49,547		2,030,844
OCI NV		18,659		532,975
Pepco Group NV^(a)		30,809		168,688
Prosus NV		264,245		7,861,732
Qiagen NV, NVS		41,464		1,798,990
Randstad NV		20,048		1,139,933
Universal Music Group NV		147,679		4,353,241
Wolters Kluwer NV		45,135		6,653,668


				144,738,215

New Zealand — 0.1%
Auckland International Airport Ltd.		224,237		1,156,142
EBOS Group Ltd.		28,947		662,895
Fisher & Paykel Healthcare Corp. Ltd.		101,024		1,459,094
Mercury NZ Ltd.		117,078		483,056
Meridian Energy Ltd.		260,835		883,654
Spark New Zealand Ltd.		385,721		1,253,128


				5,897,969

Norway — 0.4%
Adevinta ASA^(a)		63,775		685,215
Aker BP ASA		55,062		1,461,432
DNB Bank ASA		169,750		3,299,891
Equinor ASA		161,473		4,620,886
Gjensidige Forsikring ASA		43,442		698,742
Kongsberg Gruppen ASA		18,139		924,424
Mowi ASA		80,358		1,446,470
Norsk Hydro ASA		244,345		1,431,984
Orkla ASA		136,260		1,067,342
Salmar ASA		13,555		752,444
Telenor ASA		120,875		1,341,236


42		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Norway (continued)
Yara International ASA		30,274	$	1,000,636


				18,730,702

Peru — 0.1%
Cia. de Minas Buenaventura SAA, ADR		36,531		554,175
Credicorp Ltd.		11,880		1,763,348
Southern Copper Corp.		14,677		1,204,982


				3,522,505

Philippines — 0.2%
Aboitiz Equity Ventures Inc.		288,830		248,628
Ayala Corp.		36,090		434,855
Ayala Land Inc.		1,357,420		820,297
Bank of the Philippine Islands		317,113		621,406
BDO Unibank Inc.		437,774		1,126,956
International Container Terminal Services Inc.		218,860		946,352
JG Summit Holdings Inc.		732,830		498,577
Jollibee Foods Corp.		113,570		512,422
Manila Electric Co.		13,350		85,902
Metropolitan Bank & Trust Co.		622,428		630,483
PLDT Inc.		16,890		381,952
SM Investments Corp.		36,055		575,607
SM Prime Holdings Inc.		1,990,200		1,210,842
Universal Robina Corp.		111,110		220,360


				8,314,639

Poland — 0.3%
Allegro.eu SA ^(a)(b)(c)		95,797		723,181
Bank Polska Kasa Opieki SA		32,443		1,247,955
Budimex SA		1,862		319,002
CD Projekt SA		12,184		318,037
Cyfrowy Polsat SA^(a)(b)		54,251		146,855
Dino Polska SA^(a)(c)		9,810		1,058,770
KGHM Polska Miedz SA		27,470		765,332
LPP SA		207		804,913
mBank SA^(a)		2,539		337,493
ORLEN SA		98,358		1,533,640
PGE Polska Grupa Energetyczna SA^(a)		166,457		350,516
Powszechna Kasa Oszczednosci Bank Polski SA		154,586		1,961,392
Powszechny Zaklad Ubezpieczen SA		109,043		1,312,895
Santander Bank Polska SA		7,031		851,582


				11,731,563

Portugal — 0.1%
Banco Espirito Santo SA, Registered,NVS^(d)(e)		4		—
EDP - Energias de Portugal SA		581,612		2,594,244
Galp Energia SGPS SA		84,190		1,325,297
Jeronimo Martins SGPS SA		49,895		1,134,778


				5,054,319

Qatar — 0.2%
Barwa Real Estate Co.		298,500		235,701
Commercial Bank PSQC (The)		590,431		849,472
Dukhan Bank		125,508		134,717
Industries Qatar QSC		284,601		934,722
Masraf Al Rayan QSC		1,025,817		660,811
Mesaieed Petrochemical Holding Co.		774,051		356,715
Ooredoo QPSC		218,915		642,543
Qatar Electricity & Water Co. QSC		125,426		595,752
Qatar Fuel QSC		91,366		393,022
Qatar Gas Transport Co. Ltd.		495,420		471,381
Qatar International Islamic Bank QSC		142,967		408,678
Qatar Islamic Bank SAQ		288,834		1,544,990
Qatar National Bank QPSC		821,944		3,491,800


				10,720,304


Security	Shares		Value


Russia — 0.0%
Alrosa PJSC^(d)		504,040	$	56
Gazprom PJSC^(a)(d)		2,086,234		232
Inter RAO UES PJSC^(d)		5,597,000		622
LUKOIL PJSC^(d)		71,534		8
MMC Norilsk Nickel PJSC^(d)		11,400		1
Mobile TeleSystems PJSC^(d)		193,438		22
Moscow Exchange MICEX-RTS PJSC^(d)		287,200		32
Novatek PJSC^(d)		162,260		18
Novolipetsk Steel PJSC^(a)(d)		223,890		25
Ozon Holdings PLC, ADR^(a)(d)		8,288		1
PhosAgro PJSC^(d)		9,664		1
PhosAgro PJSC, GDR^(a)(d)(e)		1		—
PhosAgro PJSC, New^(d)		187		2
Polyus PJSC^(a)(d)		5,198		1
Rosneft Oil Co. PJSC^(d)		165,180		18
Sberbank of Russia PJSC^(d)		1,882,550		209
Severstal PAO^(a)(d)		30,098		3
Surgutneftegas PJSC^(d)		1,575,550		175
Tatneft PJSC^(d)		206,881		23
TCS Group Holding PLC, GDR^(a)(d)		20,990		2
United Co. RUSAL International PJSC^(a)(d)		563,790		63
VK Co. Ltd.^(a)(d)		21,979		2
VTB Bank PJSC^(a)(d)		493,800,000		55
X5 Retail Group NV, GDR^(a)(d)		16,185		2
Yandex NV^(a)(d)		54,504		6


				1,579

Saudi Arabia — 1.2%
ACWA Power Co.		17,815		1,137,581
Advanced Petrochemical Co.		31,386		318,337
Al Rajhi Bank		359,913		8,034,305
Alinma Bank		180,125		1,983,944
Almarai Co. JSC		35,704		543,638
Arab National Bank		113,139		752,302
Arabian Internet & Communications Services Co.		3,491		304,592
Bank AlBilad		101,884		1,207,913
Bank Al-Jazira^(a)		90,256		484,931
Banque Saudi Fransi		115,116		1,224,285
Bupa Arabia for Cooperative Insurance Co.		15,419		848,959
Co. for Cooperative Insurance (The)		12,569		410,655
Dallah Healthcare Co.		7,921		348,937
Dar Al Arkan Real Estate Development Co.^(a)		115,959		400,775
Dr Sulaiman Al Habib Medical Services Group Co.		15,813		1,222,380
Elm Co.		4,881		1,171,653
Etihad Etisalat Co.		69,482		965,311
Jarir Marketing Co.		143,557		583,400
Mobile Telecommunications Co. Saudi Arabia		82,068		291,935
Mouwasat Medical Services Co.		15,773		498,475
Nahdi Medical Co.		4,793		179,733
National Industrialization Co.^(a)		52,344		162,979
Power & Water Utility Co. for Jubail & Yanbu		11,428		188,480
Rabigh Refining & Petrochemical Co.^(a)		79,475		193,314
Reinet Investments SCA		24,150		605,269
Riyad Bank		255,336		1,927,103
SABIC Agri-Nutrients Co.		40,223		1,371,435
Sahara International Petrochemical Co.		64,321		538,559
Saudi Arabian Mining Co.^(a)		243,823		3,008,904
Saudi Arabian Oil Co.^(c)		481,813		3,924,892
Saudi Aramco Base Oil Co.		9,047		351,282
Saudi Awwal Bank		168,795		1,612,559
Saudi Basic Industries Corp.		154,900		3,211,014
Saudi Electricity Co.		191,906		968,343
Saudi Industrial Investment Group		51,088		276,065


S C H E D U L E O F I N V E S T M E N T S		43

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Saudi Arabia (continued)
Saudi Investment Bank (The)		80,209	$	333,058
Saudi Kayan Petrochemical Co.^(a)		151,256		369,486
Saudi National Bank (The)		522,833		5,646,350
Saudi Research & Media Group^(a)		6,207		343,188
Saudi Tadawul Group Holding Co.		8,801		484,665
Saudi Telecom Co.		339,243		3,691,508
Savola Group (The)		45,800		548,975
Yanbu National Petrochemical Co.		42,216		431,782


				53,103,251

Singapore — 0.9%
CapitaLand Ascendas REIT		722,277		1,565,338
CapitaLand Integrated Commercial Trust		959,021		1,429,676
CapitaLand Investment Ltd./Singapore		464,400		1,019,491
City Developments Ltd.		103,400		469,311
DBS Group Holdings Ltd.		332,700		7,880,094
Genting Singapore Ltd.		1,131,200		849,536
Grab Holdings Ltd., Class A^(a)		328,452		1,008,348
Jardine Cycle & Carriage Ltd.		22,900		441,879
Keppel Ltd.		274,000		1,455,970
Mapletree Logistics Trust		585,197		672,904
Mapletree Pan Asia Commercial Trust		373,300		404,252
Oversea-Chinese Banking Corp. Ltd.		607,775		5,813,592
Sea Ltd., ADR^(a)		67,185		2,562,436
Seatrium Ltd.^(a)		7,963,626		591,006
SembCorp. Industries Ltd.		151,000		635,482
Singapore Airlines Ltd.		254,150		1,261,418
Singapore Exchange Ltd.		122,700		856,769
Singapore Technologies Engineering Ltd.		303,700		841,534
Singapore Telecommunications Ltd.		1,464,600		2,613,641
United Overseas Bank Ltd.		229,400		4,835,417
UOL Group Ltd.		70,400		326,908
Wilmar International Ltd.		343,200		840,390


				38,375,392

South Africa — 0.8%
Absa Group Ltd.		141,652		1,236,837
Anglo American Platinum Ltd.		11,683		494,615
Aspen Pharmacare Holdings Ltd.		74,939		776,828
Bid Corp. Ltd.		66,154		1,604,621
Bidvest Group Ltd. (The)		55,738		734,828
Capitec Bank Holdings Ltd.		16,499		1,757,260
Clicks Group Ltd.		51,595		829,323
Discovery Ltd.		90,010		665,995
Exxaro Resources Ltd.		53,409		532,094
FirstRand Ltd.		905,525		3,279,558
Gold Fields Ltd.		162,298		2,394,750
Harmony Gold Mining Co. Ltd.		107,463		671,723
Impala Platinum Holdings Ltd.		151,891		589,588
Kumba Iron Ore Ltd.		11,248		332,234
MTN Group Ltd.		308,961		1,576,613
Naspers Ltd., Class N		34,052		5,705,931
Nedbank Group Ltd.		72,201		838,762
Northam Platinum Holdings Ltd.		66,111		445,377
Old Mutual Ltd.		897,313		597,144
OUTsurance Group Ltd., NVS		84,820		189,596
Pepkor Holdings Ltd.^(b)(c)		366,364		377,665
Remgro Ltd.		93,619		788,555
Sanlam Ltd.		285,195		1,088,075
Sasol Ltd.		103,070		895,236
Shoprite Holdings Ltd.		88,100		1,277,515
Sibanye Stillwater Ltd.		554,777		668,583
Standard Bank Group Ltd.		232,469		2,480,083


Security	Shares		Value


South Africa (continued)
Vodacom Group Ltd.		102,068	$	508,963
Woolworths Holdings Ltd./South Africa		202,203		749,196


				34,087,548

South Korea — 3.1%
Amorepacific Corp.^(a)		5,475		482,949
Celltrion Inc.		27,642		3,709,296
Celltrion Pharm Inc.^(a)		4,264		324,829
CJ CheilJedang Corp.		1,791		391,101
CosmoAM&T Co. Ltd.^(a)		4,243		419,446
Coway Co. Ltd.^(a)		10,565		438,233
DB Insurance Co. Ltd.^(a)		8,860		584,457
Doosan Bobcat Inc.		10,525		400,834
Doosan Enerbility Co. Ltd.^(a)		80,612		931,226
Ecopro BM Co. Ltd.^(a)		9,022		1,432,078
Ecopro Co. Ltd.^(a)		3,578		1,334,618
F&F Co. Ltd./New^(a)		3,241		172,118
GS Holdings Corp.^(a)		8,060		279,515
Hana Financial Group Inc.		49,929		1,785,333
Hankook Tire & Technology Co. Ltd.^(a)		16,796		642,852
Hanmi Pharm Co. Ltd.^(a)		1,574		381,879
Hanmi Semiconductor Co. Ltd.^(a)		7,493		326,768
Hanon Systems		42,005		196,049
Hanwha Aerospace Co. Ltd.^(a)		6,995		722,397
Hanwha Ocean Co. Ltd.^(a)		11,020		181,100
Hanwha Solutions Corp.^(a)		21,940		545,047
HD Hyundai Co. Ltd.		7,857		418,775
HD Hyundai Heavy Industries Co. Ltd.^(a)		3,669		312,620
HD Korea Shipbuilding & Offshore Engineering Co. Ltd.^(a)		7,792		661,124
HLB Inc.^(a)		21,613		1,090,128
HMM Co. Ltd.^(a)		41,722		599,645
Hotel Shilla Co. Ltd.		6,760		294,452
HYBE Co. Ltd.^(a)		3,790		571,430
Hyundai Engineering & Construction Co. Ltd.^(a)		15,111		391,086
Hyundai Glovis Co. Ltd.^(a)		3,680		481,869
Hyundai Mipo Dockyard Co. Ltd.^(a)		3,660		184,492
Hyundai Mobis Co. Ltd.		10,817		1,695,602
Hyundai Motor Co.		24,576		3,574,585
Hyundai Steel Co.^(a)		17,691		443,011
Industrial Bank of Korea^(a)		54,041		507,035
JYP Entertainment Corp.^(a)		5,998		337,564
Kakao Corp.^(a)		56,254		2,199,856
Kakao Pay Corp.^(a)		5,005		176,637
KakaoBank Corp.^(a)		30,806		626,137
Kangwon Land Inc.^(a)		14,772		165,736
KB Financial Group Inc.		68,699		2,915,429
Kia Corp.^(a)		46,928		3,604,589
Korea Aerospace Industries Ltd.^(a)		14,358		540,964
Korea Electric Power Corp.^(a)		45,099		668,769
Korea Investment Holdings Co. Ltd.^(a)		7,728		354,840
Korea ZInc Co. Ltd.		1,584		561,148
Korean Air Lines Co. Ltd.^(a)		28,789		484,027
Krafton Inc.^(a)		5,484		879,395
KT Corp.^(a)		5,721		151,538
KT&G Corp.		17,964		1,220,012
Kum Yang Co. Ltd.^(a)		5,776		337,436
Kumho Petrochemical Co. Ltd.^(a)		2,949		274,989
L&F Co. Ltd.^(a)		4,507		480,542
LG Chem Ltd.		8,788		2,849,815
LG Corp.^(a)		17,224		1,057,614
LG Display Co. Ltd.^(a)		44,694		388,395
LG Electronics Inc.		19,778		1,378,611


44		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


South Korea (continued)
LG Energy Solution Ltd.^(a)		8,280	$	2,350,201
LG H&H Co. Ltd.		1,583		358,787
LG Innotek Co. Ltd.		3,085		440,001
LG Uplus Corp.		39,381		301,512
Lotte Chemical Corp.^(a)		3,444		336,877
Meritz Financial Group Inc.^(a)		18,941		972,432
Mirae Asset Securities Co. Ltd.^(a)		50,690		298,043
NAVER Corp.^(a)		23,597		3,518,833
NCSoft Corp.^(a)		2,679		395,393
Netmarble Corp.^(a)(c)		4,521		197,072
NH Investment & Securities Co. Ltd.^(a)		27,473		217,979
Orion Corp./Republic of Korea		5,136		355,231
Pearl Abyss Corp.^(a)		5,832		142,417
Posco DX Co. Ltd.^(a)		8,887		378,734
POSCO Future M Co. Ltd.^(a)		5,665		1,067,086
POSCO Holdings Inc.		12,911		4,096,405
Posco International Corp.^(a)		9,176		360,183
Samsung Biologics Co. Ltd.^(a)(c)		3,160		1,989,132
Samsung C&T Corp.		13,882		1,434,072
Samsung Electro-Mechanics Co. Ltd.		10,047		1,044,897
Samsung Electronics Co. Ltd.		864,089		46,951,856
Samsung Engineering Co. Ltd.^(a)		29,559		493,029
Samsung Fire & Marine Insurance Co. Ltd.^(a)		5,625		1,113,073
Samsung Heavy Industries Co. Ltd.^(a)		118,098		643,647
Samsung Life Insurance Co. Ltd.		13,387		695,663
Samsung SDI Co. Ltd.		9,871		2,739,435
Samsung SDS Co. Ltd.		6,712		763,293
Samsung Securities Co. Ltd.		11,521		323,834
Shinhan Financial Group Co. Ltd.		75,607		2,316,603
SK Biopharmaceuticals Co. Ltd.^(a)		6,548		454,812
SK Bioscience Co. Ltd.^(a)		4,392		208,728
SK Hynix Inc.		97,566		9,770,322
SK IE Technology Co. Ltd.^(a)(c)		6,155		341,153
SK Inc.		6,677		915,274
SK Innovation Co. Ltd.^(a)		10,710		933,309
SK Square Co. Ltd.^(a)		17,705		687,807
SK Telecom Co. Ltd.		9,890		371,851
SKC Co. Ltd.^(a)		4,303		246,703
S-Oil Corp.		8,698		442,208
Woori Financial Group Inc.		94,356		978,316
Yuhan Corp.^(a)		11,016		486,899


				140,695,124

Spain — 1.6%
Acciona SA		4,530		585,977
ACS Actividades de Construccion y Servicios SA		40,359		1,592,586
Aena SME SA^(c)		12,759		2,257,159
Amadeus IT Group SA		80,678		5,653,944
Banco Bilbao Vizcaya Argentaria SA		1,087,716		10,180,409
Banco Santander SA		2,943,454		11,829,916
CaixaBank SA		746,192		3,181,755
Cellnex Telecom SA^(c)		102,338		3,937,696
Corp. ACCIONA Energias Renovables SA		12,330		320,396
EDP Renovaveis SA		62,529		1,012,547
Enagas SA		22,741		370,219
Endesa SA		58,368		1,156,384
Grifols SA^(a)		52,713		574,189
Iberdrola SA		1,078,446		12,985,521
Iberdrola SA, NVS		19,011		228,912
Industria de Diseno Textil SA		196,916		8,419,609
Naturgy Energy Group SA		25,709		692,286
Redeia Corp. SA		64,486		1,073,055
Repsol SA		231,501		3,418,872


Security	Shares		Value


Spain (continued)
Telefonica SA		929,914	$	3,783,665


				73,255,097

Sweden — 2.0%
Alfa Laval AB		52,857		1,939,472
Assa Abloy AB, Class B		181,786		4,985,612
Atlas Copco AB, Class A		479,716		7,655,986
Atlas Copco AB, Class B		287,455		3,980,663
Beijer Ref AB, Class B		77,401		1,053,814
Boliden AB		48,722		1,293,212
Epiroc AB		119,297		2,107,829
Epiroc AB, Class B		65,262		1,017,558
EQTAB		66,054		1,773,691
Essity AB, Class B		110,091		2,585,299
Evolution AB^(c)		33,452		3,905,975
Fastighets AB Balder, Class B^(a)		126,387		838,867
Getinge AB, Class B		41,629		889,908
H & M Hennes & Mauritz AB, Class B		120,478		1,699,793
Hexagon AB, Class B		384,058		4,191,450
Holmen AB, Class B		16,336		643,790
Husqvarna AB, Class B		61,135		475,564
Industrivarden AB, Class A		24,072		757,834
Industrivarden AB, Class C		26,210		823,756
Indutrade AB		51,844		1,259,502
Investment AB Latour, Class B		29,939		752,984
Investor AB, Class B		316,694		7,456,486
L E Lundbergforetagen AB, Class B		12,793		667,037
Lifco AB, Class B		43,359		1,046,118
Nibe Industrier AB, Class B		285,737		1,707,330
Saab AB, Class B		16,758		1,079,063
Sagax AB, Class B		39,023		948,310
Sandvik AB		187,787		3,946,510
Securitas AB, Class B		84,290		818,798
Skandinaviska Enskilda Banken AB, Class A		279,127		3,964,200
Skanska AB, Class B		60,513		1,049,271
SKF AB, Class B		63,700		1,255,216
Svenska Cellulosa AB SCA, Class B		111,472		1,517,571
Svenska Handelsbanken AB, Class A		260,394		2,807,134
Swedbank AB, Class A		155,343		3,165,576
Swedish Orphan Biovitrum AB^(a)		33,171		931,048
Tele2 AB, Class B		97,382		830,282
Telefonaktiebolaget LM Ericsson, Class B		538,113		2,983,016
Telia Co. AB		420,747		1,085,179
Volvo AB, Class A		36,017		885,483
Volvo AB, Class B		268,227		6,428,146
Volvo Car AB, Class B^(a)(b)		102,619		267,528


				89,471,861

Switzerland — 6.7%
ABB Ltd., Registered		286,987		12,142,937
Adecco Group AG, Registered		28,230		1,220,752
Alcon Inc.		89,378		6,727,929
Avolta AG, Registered^(a)		17,558		670,801
Bachem Holding AG, Class B		7,123		476,840
Baloise Holding AG, Registered		7,963		1,272,018
Banque Cantonale Vaudoise, Registered		6,332		810,726
Barry Callebaut AG, Registered		686		1,001,976
BKWAG		3,949		627,371
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		192		2,440,118
Chocoladefabriken Lindt & Spruengli AG, Registered		19		2,408,420
Cie. Financiere Richemont SA, Class A, Registered		94,191		13,990,617


S C H E D U L E O F I N V E S T M E N T S		45

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Switzerland (continued)
Clariant AG, Registered		45,235	$	579,084
Coca-Cola HBC AG, Class DI		39,481		1,160,613
DSM-Firmenich AG		33,874		3,581,515
EMS-Chemie Holding AG, Registered		1,353		1,021,400
Geberit AG, Registered		5,958		3,429,591
Givaudan SA, Registered		1,683		6,998,817
Helvetia Holding AG, Registered		5,882		849,481
Holcim AG		92,440		7,060,459
Julius Baer Group Ltd.		37,369		2,034,421
Kuehne + Nagel International AG, Registered		9,802		3,321,698
Logitech International SA, Registered		30,039		2,518,268
Lonza Group AG, Registered		13,489		6,594,849
Nestle SA, Registered		482,816		55,017,138
Novartis AG, Registered		370,574		38,322,435
Partners Group Holding AG		4,114		5,550,506
Roche Holding AG, Bearer		5,656		1,713,358
Roche Holding AG, NVS		126,773		36,094,346
Sandoz Group AG^(a)		73,999		2,537,795
Schindler Holding AG, Participation Certificates, NVS		7,883		1,963,566
Schindler Holding AG, Registered		3,789		901,937
SGS SA		26,548		2,453,190
Siemens Energy AG^(a)		96,235		1,429,760
SIG Group AG		54,115		1,132,746
Sika AG, Registered		27,139		7,491,933
Sonova Holding AG, Registered		9,080		2,901,936
STMicroelectronics NV		124,948		5,486,155
Straumann Holding AG		20,637		3,134,788
Swatch Group AG (The), Bearer		5,182		1,216,520
Swatch Group AG (The), Registered		8,545		388,789
Swiss Life Holding AG, Registered		5,417		3,890,099
Swiss Prime Site AG, Registered		14,408		1,459,319
Swiss Re AG		53,669		6,145,124
Swisscom AG, Registered		4,597		2,750,309
Temenos AG, Registered		11,391		1,159,267
UBS Group AG, Registered		590,787		17,683,795
VAT Group AG^(c)		4,945		2,302,040
Zurich Insurance Group AG		26,578		13,504,003


				299,571,555

Taiwan — 4.5%
Accton Technology Corp.		95,000		1,598,143
Acer Inc.		590,792		867,633
Advantech Co. Ltd.		105,360		1,135,698
Airtac International Group		28,928		866,965
Alchip Technologies Ltd.		14,000		1,736,559
ASE Technology Holding Co. Ltd.		577,762		2,498,112
Asia Cement Corp.		362,440		459,616
Asustek Computer Inc.		127,000		1,803,312
AUO Corp.		1,200,800		701,747
Catcher Technology Co. Ltd.		120,000		745,649
Cathay Financial Holding Co. Ltd.		1,673,019		2,352,649
Chailease Holding Co. Ltd.		272,163		1,506,565
Chang Hwa Commercial Bank Ltd.		849,063		473,993
Cheng Shin Rubber Industry Co. Ltd.		371,000		537,929
China Airlines Ltd.		555,000		360,489
China Development Financial Holding Corp.^(a)		2,891,358		1,110,042
China Steel Corp.		2,088,288		1,673,414
Chunghwa Telecom Co. Ltd.		677,000		2,566,446
Compal Electronics Inc.		726,000		832,618
CTBC Financial Holding Co. Ltd.		3,187,036		2,891,315
Delta Electronics Inc.		359,000		3,212,545
E Ink Holdings Inc.		164,000		1,087,600


Security	Shares		Value

Taiwan (continued)
E.Sun Financial Holding Co. Ltd.		2,436,713	$	1,923,272
Eclat Textile Co. Ltd.		35,000		610,864
eMemory Technology Inc.		13,000		1,159,463
Eva Airways Corp.		492,000		495,927
Evergreen Marine Corp. Taiwan Ltd.		178,200		854,748
Far Eastern New Century Corp.		535,000		527,855
Far EasTone Telecommunications Co. Ltd.		283,000		726,410
Feng TAY Enterprise Co. Ltd.		92,512		476,994
First Financial Holding Co. Ltd.		1,962,700		1,665,586
Formosa Chemicals & Fibre Corp.		625,340		1,128,969
Formosa Petrochemical Corp.		229,000		543,867
Formosa Plastics Corp.		681,960		1,567,175
Fubon Financial Holding Co. Ltd.		1,392,895		2,863,164
Gigabyte Technology Co. Ltd.		104,000		1,029,141
Global Unichip Corp.		18,000		883,740
Globalwafers Co. Ltd.		41,000		757,459
Hon Hai Precision Industry Co. Ltd.		2,202,377		7,204,467
Hotai Motor Co. Ltd.		55,080		1,115,813
Hua Nan Financial Holdings Co. Ltd.		1,596,529		1,099,767
Innolux Corp.		1,536,150		798,922
Inventec Corp.		526,000		923,823
Largan Precision Co. Ltd.		19,000		1,506,409
Lite-On Technology Corp.		385,000		1,333,298
MediaTek Inc.		280,000		8,640,133
Mega Financial Holding Co. Ltd.		2,038,968		2,449,250
Micro-Star International Co. Ltd.		136,000		788,804
momo.com Inc.		20,020		277,897
Nan Ya Plastics Corp.		892,840		1,730,332
Nan Ya Printed Circuit Board Corp.		41,000		295,997
Nanya Technology Corp.		231,000		506,644
Nien Made Enterprise Co. Ltd.		42,000		448,995
Novatek Microelectronics Corp.		109,000		1,775,577
Parade Technologies Ltd.		17,000		603,111
Pegatron Corp.		348,000		917,387
PharmaEssentia Corp.^(a)		43,000		431,760
Pou Chen Corp.		391,000		393,615
Powerchip Semiconductor Manufacturing Corp.		644,000		553,728
President Chain Store Corp.		85,000		716,665
Quanta Computer Inc.		498,000		3,937,693
Realtek Semiconductor Corp.		91,000		1,361,851
Ruentex Development Co. Ltd.		308,700		351,647
Shanghai Commercial & Savings Bank Ltd. (The)		678,784		959,353
Shin Kong Financial Holding Co. Ltd.^(a)		2,320,983		621,448
Silergy Corp.		67,000		824,551
SinoPac Financial Holdings Co. Ltd.		2,137,690		1,308,207
Synnex Technology International Corp.		281,750		646,891
Taishin Financial Holding Co. Ltd.		2,069,840		1,133,882
Taiwan Business Bank		901,648		384,243
Taiwan Cement Corp.		1,198,553		1,219,807
Taiwan Cooperative Financial Holding Co. Ltd.		1,990,906		1,615,215
Taiwan High Speed Rail Corp.		378,000		356,660
Taiwan Mobile Co. Ltd.		234,000		731,447
Taiwan Semiconductor Manufacturing Co. Ltd.		4,447,000		89,022,234
Unimicron Technology Corp.		264,000		1,481,113
Uni-President Enterprises Corp.		895,972		2,070,486
United Microelectronics Corp.		2,045,000		3,185,411
Vanguard International Semiconductor Corp.		169,000		396,536
Voltronic Power Technology Corp.		13,000		555,917
Walsin Lihwa Corp.		496,754		560,878
Wan Hai Lines Ltd.		123,435		192,719
Winbond Electronics Corp.		629,562		547,225
Wistron Corp.		487,000		1,783,064


46		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Taiwan (continued)
Wiwynn Corp.		19,000	$	1,339,515
WPG Holdings Ltd.		368,000		1,024,476
Yageo Corp.		65,898		1,159,087
Yang Ming Marine Transport Corp.		384,000		585,533
Yuanta Financial Holding Co. Ltd.		1,769,721		1,525,666
Zhen Ding Technology Holding Ltd.		133,000		428,172


				204,056,994

Thailand — 0.5%
Advanced Info Service PCL, NVDR		246,200		1,518,410
Airports of Thailand PCL, NVDR		870,800		1,466,301
Asset World Corp. PCL, NVDR^(b)		2,921,300		328,160
Bangkok Dusit Medical Services PCL, NVDR		2,016,500		1,563,065
Bangkok Expressway & Metro PCL, NVDR		1,562,500		323,562
Banpu PCL, NVDR		727,620		127,019
Berli Jucker PCL, NVDR		375,800		250,448
BTS Group Holdings PCL, NVDR^(b)		3,008,300		508,317
Bumrungrad Hospital PCL, NVDR		58,500		395,790
Central Pattana PCL, NVDR		508,900		927,701
Charoen Pokphand Foods PCL, NVDR		1,092,400		573,160
CP ALL PCL, NVDR		1,182,600		1,740,907
CP Axtra PCL		429,500		344,296
Delta Electronics Thailand PCL, NVDR		603,400		1,335,335
Global Power Synergy PCL, NVDR		311,700		431,717
Gulf Energy Development PCL, NVDR		430,100		526,802
Indorama Ventures PCL, NVDR^(b)		494,788		329,107
Intouch Holdings PCL, NVDR		301,600		626,308
Kasikornbank PCL, NVDR		115,500		391,205
Krungthai Card PCL, NVDR^(b)		316,500		390,207
Land & Houses PCL, NVDR		2,056,500		443,741
Minor International PCL, NVDR		751,920		646,483
Osotspa PCL, NVDR		299,100		175,359
PTT Exploration & Production PCL, NVDR		281,399		1,187,591
PTT Global Chemical PCL, NVDR		455,901		429,878
PTT Oil & Retail Business PCL, NVDR		86,968		43,825
PTT Public Co. Ltd., NVDR		2,006,700		1,904,916
SCB X PCL, NVS		169,700		496,709
Siam Cement PCL (The), NVDR		146,800		1,117,405
Thai Oil PCL, NVDR		392,000		603,084
True Corp. PCL^(a)		2,280,996		387,869


				21,534,677

Turkey — 0.2%
Akbank TAS		649,098		844,937
Aselsan Elektronik Sanayi Ve Ticaret AS		252,684		421,348
BIM Birlesik Magazalar AS		88,206		1,106,098
Eregli Demir ve Celik Fabrikalari TAS^(a)		259,119		367,409
Ford Otomotiv Sanayi AS		13,571		394,451
Haci Omer Sabanci Holding AS		177,430		424,049
Hektas Ticaret TAS^(a)		192,205		112,632
KOC Holding AS		153,750		812,022
Koza Altin Isletmeleri AS		228,436		156,281
Pegasus Hava Tasimaciligi AS^(a)		9,776		241,659
Sasa Polyester Sanayi AS^(a)		249,752		316,871
Tofas Turk Otomobil Fabrikasi AS		11,906		96,581
Turk Hava Yollari AO^(a)		99,667		893,404
Turkcell Iletisim Hizmetleri AS		216,428		488,915
Turkiye Is Bankasi AS, Class C		640,800		540,321
Turkiye Petrol Rafinerileri AS		183,926		906,174
Turkiye Sise ve Cam Fabrikalari AS		280,548		455,044
Yapi ve Kredi Bankasi AS		529,913		380,610


				8,958,806


Security	Shares		Value

United Arab Emirates — 0.4%
Abu Dhabi Commercial Bank PJSC		562,357	$	1,377,969
Abu Dhabi Islamic Bank PJSC		303,694		926,060
Abu Dhabi National Oil Co. for Distribution PJSC		606,609		586,303
Aldar Properties PJSC		744,583		1,033,876
Americana Restaurants International PLC		466,502		395,002
Dubai Islamic Bank PJSC		522,732		899,459
Emaar Properties PJSC		1,189,710		2,405,440
Emirates NBD Bank PJSC		360,944		1,739,394
Emirates Telecommunications Group Co. PJSC		621,592		3,245,929
First Abu Dhabi Bank PJSC		785,261		3,130,592
Multiply Group PJSC^(a)		694,948		545,684


				16,285,708

United Kingdom — 9.3%
3i Group PLC		170,518		5,338,055
abrdn PLC		343,434		730,633
Admiral Group PLC		43,014		1,367,722
Anglo American PLC		227,258		5,417,304
Anglogold Ashanti PLC, NVS		77,483		1,386,565
Antofagasta PLC		67,001		1,460,303
Ashtead Group PLC		80,106		5,238,283
Associated British Foods PLC		64,328		1,905,353
AstraZeneca PLC		278,099		36,869,487
Auto Trader Group PLC^(c)		176,650		1,625,159
Aviva PLC		515,184		2,812,170
BAE Systems PLC		551,947		8,222,059
Barclays PLC		2,810,153		5,222,184
Barratt Developments PLC		188,738		1,286,312
Berkeley Group Holdings PLC		20,196		1,222,961
BP PLC		3,161,866		18,466,614
British American Tobacco PLC		376,864		11,111,310
BT Group PLC		1,187,900		1,682,935
Bunzl PLC		61,866		2,514,220
Burberry Group PLC		69,335		1,142,081
Centrica PLC		968,188		1,694,377
Coca-Cola Europacific Partners PLC		37,755		2,601,319
Compass Group PLC		310,881		8,562,829
Croda International PLC		26,387		1,597,115
DCC PLC		18,277		1,328,725
Diageo PLC		402,365		14,532,564
Endeavour Mining PLC		25,477		452,571
Entain PLC		112,042		1,364,716
Experian PLC		164,872		6,862,367
Glencore PLC		1,902,945		10,068,402
GSK PLC		734,761		14,531,907
Haleon PLC		957,478		3,889,049
Halma PLC		67,674		1,873,155
Hargreaves Lansdown PLC		62,003		598,293
Hikma Pharmaceuticals PLC		29,501		719,737
HSBC Holdings PLC		3,547,080		27,694,545
Imperial Brands PLC		158,642		3,808,221
Informa PLC		260,315		2,556,697
InterContinental Hotels Group PLC		32,362		3,066,399
Intertek Group PLC		28,850		1,637,545
J Sainsbury PLC		326,183		1,113,641
JD Sports Fashion PLC		458,187		677,069
Kingfisher PLC		383,498		1,066,249
Land Securities Group PLC		112,416		947,746
Legal & General Group PLC		1,063,598		3,421,001
Lloyds Banking Group PLC		11,934,109		6,397,343
London Stock Exchange Group PLC		76,326		8,633,542
M&G PLC		429,870		1,215,400
Melrose Industries PLC		245,459		1,829,525


S C H E D U L E O F I N V E S T M E N T S		47

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

United Kingdom (continued)
Mondi PLC, NVS		79,513	$	1,424,843
National Grid PLC		654,101		8,712,039
NatWest Group PLC, NVS		1,023,071		2,887,248
Next PLC		22,872		2,441,735
NMC Health PLC, NVS^(d)		14,180		—
Ocado Group PLC^(a)		111,150		761,367
Pearson PLC		125,296		1,537,103
Persimmon PLC		59,171		1,089,818
Phoenix Group Holdings PLC		101,256		646,482
Prudential PLC		499,035		5,126,371
Reckitt Benckiser Group PLC		127,642		9,228,631
RELX PLC		343,228		14,166,413
Rentokil Initial PLC		457,344		2,355,205
Rio Tinto PLC		199,958		13,840,976
Rolls-Royce Holdings PLC^(a)		1,510,142		5,733,179
Sage Group PLC (The)		185,411		2,760,384
Schroders PLC		129,916		664,663
Segro PLC		209,876		2,330,897
Severn Trent PLC		53,157		1,747,325
Shell PLC		1,206,099		37,391,852
Smith & Nephew PLC		157,182		2,198,191
Smiths Group PLC		62,120		1,273,065
Spirax-Sarco Engineering PLC		13,211		1,662,747
SSE PLC		200,285		4,265,656
St. James’s Place PLC		107,705		886,660
Standard Chartered PLC		422,961		3,196,545
Taylor Wimpey PLC		631,827		1,179,616
Tesco PLC		1,317,536		4,774,249
Unilever PLC		450,373		21,915,247
United Utilities Group PLC		129,128		1,739,194
Vodafone Group PLC		4,070,529		3,460,521
Whitbread PLC		35,929		1,628,588
Wise PLC, Class A^(a)		116,604		1,189,349
WPP PLC		195,921		1,894,652


				415,874,570


Total Common Stocks — 98.8% (Cost: $4,200,381,471)				4,439,136,329


Preferred Stocks

Brazil — 0.4%
Banco Bradesco SA, Preference Shares, NVS		966,255		2,993,705
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS		67,459		624,156
Cia. Energetica de Minas Gerais, Preference Shares, NVS		261,107		607,128
Cia. Paranaense de Energia, Preference Shares, NVS		175,176		358,173
Gerdau SA, Preference Shares, NVS		222,178		943,530
Itau Unibanco Holding SA, Preference Shares, NVS		856,822		5,669,027
Itausa SA, Preference Shares, NVS		935,543		1,888,306
Petroleo Brasileiro SA, Preference Shares, NVS		858,042		7,005,450


				20,089,475
Chile — 0.0%
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares, NVS		25,747		1,105,577


Colombia — 0.0%
Bancolombia SA, Preference Shares, NVS		92,125		725,838


Security	Shares		Value

Germany — 0.3%
Bayerische Motoren Werke AG, Preference Shares, NVS		10,064	$	983,358
Dr Ing hc F Porsche AG, Preference Shares, NVS^(c)		22,175		1,882,700
Henkel AG & Co. KGaA, Preference Shares, NVS		28,967		2,220,567
Porsche Automobil Holding SE, Preference Shares, NVS		27,938		1,394,776
Sartorius AG, Preference Shares, NVS		4,782		1,744,486
Volkswagen AG, Preference Shares, NVS		35,388		4,551,429


				12,777,316

Russia — 0.0%
Surgutneftegas PJSC, Preference Shares, NVS^(d)		1,151,800		128


South Korea — 0.2%
Hyundai Motor Co.
Preference Shares, NVS		4,449		393,390
Series 2, Preference Shares, NVS		6,332		559,505
LG Chem Ltd., Preference Shares, NVS		1,392		282,211
Samsung Electronics Co. Ltd., Preference Shares, NVS		143,713		6,288,285


				7,523,391


Total Preferred Stocks — 0.9% (Cost: $35,111,120)				42,221,725


Rights

Brazil — 0.0%
Localiza Rent a Car SA, (Expires 02/19/24, Strike Price BRL 45.35)^(a)		593		1,077


South Korea — 0.0%
LG Display Co. Ltd., (Expires 03/14/24, Strike Price KWR 10070)^(a)		14,207		16,819


Spain — 0.0%
ACS Actividades de Construccion y Servicios SA, (Expires 02/09/24)^(a)		41,299		18,924


Total Rights — 0.0% (Cost: $20,514)				36,820


Warrants

Canada — 0.0%
Constellation Software Inc., (Issued 08/29/23, 1 Share for 1 Warrant, Expires 03/31/40, Strike Price CAD 11.50)^(d)		3,748		—


Total Warrants — 0.0% (Cost: $—)				—


Total Long-Term Investments — 99.7% (Cost: $4,235,513,105)				4,481,394,874


Short-Term Securities

Money Market Funds — 0.6%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.51%^(f)(g)(h)		20,575,936		20,588,281


48		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%^(f)(g)		3,880,000	$	3,880,000


Total Short-Term Securities — 0.6% (Cost: $24,449,256)				24,468,281


Total Investments — 100.3% (Cost: $4,259,962,361)				4,505,863,155

Liabilities in Excess of Other Assets — (0.3)%				(12,038,129	)


Net Assets — 100.0%			$	4,493,825,026

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	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.

^(d)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(e)	This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^(f)	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.

Affiliates




Affiliated Issuer	Value at 07/31/23		Purchases at Cost		Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 01/31/24		Shares Held at 01/31/24		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares	$	30,996,743	$	—	$	(10,418,714	)^(a)	$	4,975	$	5,277	$	20,588,281		20,575,936	$	160,877	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		7,320,000		—		(3,440,000	)^(a)		—		—		3,880,000		3,880,000		203,972			—


								$	4,975	$	5,277	$	24,468,281			$	364,849		$	—

^(a)

Represents net amount purchased (sold).

^(b)

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
MSCI EAFE Index		63		03/15/24	$	7,034	$	243,283
MSCI Emerging Markets Index		58		03/15/24		2,844		(4,546	)


							$	238,737


S C H E D U L E O F I N V E S T M E N T S			49

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. 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 Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Assets — Derivative Financial Instruments
Futures contracts
Unrealized appreciation on futures contracts^(a)	$	—	$	—	$	243,283	$	—	$	—	$	—	$	243,283


Liabilities — Derivative Financial Instruments
Futures contracts
Unrealized depreciation on futures contracts^(a)	$	—	$	—	$	4,546	$	—	$	—	$	—	$	4,546

^(a)

Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements 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).

For the period ended January 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:




	Commodity Contracts		Credit Contracts		Equity Contracts			Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Net Realized Gain (Loss) from
Futures contracts	$	—	$	—	$	39,179		$	—	$	—	$	—	$	39,179


Net Change in Unrealized Appreciation (Depreciation) on
Futures contracts	$	—	$	—	$	(496,771	)	$	—	$	—	$	—	$	(496,771	)

Average Quarterly Balances of Outstanding Derivative Financial Instruments




Futures contracts:
Average notional value of contracts — long	$	13,944,915

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




	Level 1		Level 2		Level 3		Total


Assets
Investments
Long-Term Investments
Common Stocks	$	555,120,007	$	3,884,014,737	$	1,585	$	4,439,136,329
Preferred Stocks		20,815,313		21,406,284		128		42,221,725
Rights		20,001		16,819		—		36,820
Warrants		—		—		—		—
Short-Term Securities
Money Market Funds		24,468,281		—		—		24,468,281


	$	600,423,602	$	3,905,437,840	$	1,713	$	4,505,863,155

Derivative Financial Instruments^(a)
Assets
Equity Contracts	$	243,283	$	—	$	—	$	243,283


50		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI ACWI ex U.S. ETF

Fair Value Hierarchy as of Period End (continued)




	Level 1			Level 2		Level 3		Total


Liabilities
Equity Contracts	$	(4,546	)	$	—	$	—	$	(4,546	)

	$	238,737		$	—	$	—		238,737

^(a)

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

See notes to financial statements.


S C H E D U L E O F I N V E S T M E N T S			51

Schedule of Investments (unaudited)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Common Stocks

Australia — 7.4%
Ampol Ltd.		745,311	$	17,628,450
ANZ Group Holdings Ltd.		9,427,499		166,342,377
APA Group		4,012,763		22,194,965
Aristocrat Leisure Ltd.		1,830,827		52,783,863
ASX Ltd.		607,216		25,959,914
Aurizon Holdings Ltd.		5,772,661		14,229,790
BHP Group Ltd.		15,900,643		486,464,400
BlueScope Steel Ltd.		1,438,938		21,970,149
Brambles Ltd.		4,346,770		41,445,435
CAR Group Ltd.		1,120,007		24,048,018
Cochlear Ltd.		205,563		40,793,755
Coles Group Ltd.		4,192,457		43,506,690
Commonwealth Bank of Australia		5,258,144		400,956,570
Computershare Ltd.		1,784,925		29,564,154
CSL Ltd.		1,515,373		297,585,207
Dexus		3,363,834		17,023,239
Endeavour Group Ltd./Australia		4,456,638		16,310,117
Fortescue Ltd.		5,312,103		102,665,674
Goodman Group		5,361,749		89,000,582
GPT Group (The)		5,991,105		18,107,363
IDP Education Ltd.		826,875		10,588,758
IGO Ltd.		2,134,141		10,374,513
Insurance Australia Group Ltd.		7,558,478		29,670,237
James Hardie Industries PLC^(a)		1,376,765		51,725,661
Lottery Corp. Ltd. (The)		6,981,116		22,914,701
Macquarie Group Ltd.		1,151,736		142,112,032
Medibank Pvt Ltd.		8,567,184		21,449,148
Mineral Resources Ltd.		549,419		21,190,434
Mirvac Group		12,340,699		17,343,621
National Australia Bank Ltd.		9,815,461		207,011,971
Northern Star Resources Ltd.		3,594,594		30,833,728
Orica Ltd.		1,424,530		15,024,369
Origin Energy Ltd.		5,396,103		30,116,733
Pilbara Minerals Ltd.^(b)		8,941,751		20,366,316
Qantas Airways Ltd.^(a)		2,815,187		10,149,767
QBE Insurance Group Ltd.		4,679,632		48,184,214
Ramsay Health Care Ltd.		574,077		19,138,895
REA Group Ltd.		165,753		19,768,807
Reece Ltd.		707,003		10,414,388
Rio Tinto Ltd.		1,164,469		100,199,473
Santos Ltd.		10,171,172		51,404,491
Scentre Group		16,284,414		32,374,187
SEEK Ltd.		1,114,107		18,366,365
Sonic Healthcare Ltd.		1,409,636		29,391,193
South32 Ltd.		14,186,016		30,715,794
Stockland		7,466,295		22,048,791
SunCorp Group Ltd.		3,984,492		36,675,398
Telstra Corp. Ltd.		12,566,388		33,141,749
Transurban Group		9,685,989		85,093,643
Treasury Wine Estates Ltd.		2,511,092		17,608,083
Vicinity Ltd.		12,101,610		16,063,754
Washington H Soul Pattinson & Co. Ltd.		733,803		16,402,799
Wesfarmers Ltd.		3,558,921		134,729,858
Westpac Banking Corp.		11,007,886		172,687,523
WiseTech Global Ltd.		523,556		24,649,593
Woodside Energy Group Ltd.		5,956,287		124,582,973
Woolworths Group Ltd.		3,832,020		89,994,811
Xero Ltd.^(a)		451,420		32,312,023


				3,735,401,506


Security	Shares		Value


Austria — 0.2%
Erste Group Bank AG		1,069,833	$	46,086,694
OMV AG		460,615		20,502,619
Verbund AG		214,041		17,405,454
voestalpine AG		362,916		10,797,373


				94,792,140

Belgium — 0.9%
Ageas SA/NV		496,373		21,330,137
Anheuser-Busch InBev SA/NV		2,724,747		168,546,285
Argenx SE^(a)		185,321		69,983,143
D’ieteren Group		67,370		13,609,583
Elia Group SA/NV		91,958		11,072,233
Groupe Bruxelles Lambert NV		275,280		20,868,890
KBC Group NV		782,949		51,073,012
Lotus Bakeries NV		1,266		10,794,833
Sofina SA^(b)		48,190		11,525,268
Syensqo SA^(a)		232,620		20,737,366
UCB SA		396,707		37,316,513
Umicore SA		655,178		14,902,980
Warehouses De Pauw CVA		549,748		16,084,058


				467,844,301

Denmark — 3.5%
AP Moller - Maersk A/S, Class A		9,541		17,300,412
AP Moller - Maersk A/S, Class B, NVS		15,480		28,542,009
Carlsberg A/S, Class B		308,026		39,632,915
Coloplast A/S, Class B		427,388		49,265,743
Danske Bank A/S		2,157,631		57,935,536
Demant A/S^(a)		311,928		14,129,989
DSV A/S		583,136		104,328,696
Genmab A/S^(a)		206,669		57,148,528
Novo Nordisk A/S		10,237,260		1,170,163,706
Novozymes A/S, Class B		1,146,834		58,764,554
Orsted A/S^(c)		587,807		33,131,595
Pandora A/S		279,810		40,884,974
Rockwool A/S, Class B		27,845		7,591,295
Tryg A/S		1,109,577		23,716,223
Vestas Wind Systems A/S^(a)		3,159,065		89,069,866


				1,791,606,041

Finland — 1.1%
Elisa OYJ		444,870		20,268,927
Fortum OYJ		1,403,136		19,181,073
Kesko OYJ, Class B		854,810		16,694,100
Kone OYJ, Class B		1,066,188		52,777,697
Metso OYJ		2,074,241		20,731,285
Neste OYJ		1,323,364		45,622,333
Nokia OYJ		16,914,160		61,148,463
Nordea Bank Abp		10,043,517		123,760,146
Orion OYJ, Class B		338,106		15,565,619
Sampo OYJ, Class A		1,430,956		59,893,290
Stora Enso OYJ, Class R		1,819,642		23,154,519
UPM-Kymmene OYJ		1,674,227		60,895,353
Wartsila OYJ Abp		1,480,589		21,840,986


				541,533,791

France — 11.8%
Accor SA		621,410		24,541,651
Aeroports de Paris SA		108,323		14,494,678
Air Liquide SA		1,642,972		307,454,770
Airbus SE		1,859,605		296,208,752
Alstom SA^(b)		901,319		11,365,999
Amundi SA^(c)		189,319		12,805,081
ArcelorMittal SA		1,600,566		44,079,614
Arkema SA		188,294		20,492,595


52		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


France (continued)
AXA SA		5,710,766	$	191,683,631
BioMerieux		128,708		13,852,614
BNP Paribas SA		3,295,281		221,390,707
Bollore SE		2,283,630		15,083,445
Bouygues SA		631,752		23,142,712
Bureau Veritas SA		914,722		24,330,581
Capgemini SE		490,060		108,950,821
Carrefour SA		1,853,290		31,639,917
Cie. de Saint-Gobain		1,439,338		101,770,595
Cie. Generale des Etablissements Michelin SCA		2,128,099		70,658,551
Covivio SA/France		156,209		7,564,248
Credit Agricole SA		3,342,187		47,876,331
Danone SA		2,017,051		134,383,229
Dassault Aviation SA		63,856		12,094,860
Dassault Systemes SE		2,096,188		108,662,750
Edenred SE		782,893		46,761,008
Eiffage SA		228,369		23,894,286
Engie SA		5,729,407		91,512,789
EssilorLuxottica SA		924,894		181,254,254
Eurazeo SE		136,639		11,638,943
Eurofins Scientific SE		423,335		25,491,868
Euronext NV^(c)		266,558		23,445,684
Gecina SA		142,567		15,723,227
Getlink SE		1,108,710		19,104,273
Hermes International SCA		99,077		209,018,691
Ipsen SA		117,956		13,600,223
Kering SA		233,517		95,922,570
Klepierre SA		667,185		17,273,868
La Francaise des Jeux SAEM^(c)		326,717		13,243,015
Legrand SA		831,287		80,564,680
L’Oreal SA		756,644		362,095,025
LVMH Moet Hennessy Louis Vuitton SE		866,217		720,743,252
Orange SA		5,832,914		69,364,561
Pernod Ricard SA		641,526		105,200,993
Publicis Groupe SA		717,959		71,934,847
Remy Cointreau SA		70,995		7,193,501
Renault SA		597,250		22,492,243
Safran SA		1,072,240		200,196,697
Sanofi SA		3,570,795		357,599,178
Sartorius Stedim Biotech		86,030		23,179,683
Schneider Electric SE		1,707,133		335,366,265
SEB SA		78,082		9,534,619
Societe Generale SA		2,310,657		59,395,484
Sodexo SA		274,419		30,956,917
Teleperformance SE		186,481		29,123,489
Thales SA		330,123		48,281,826
TotalEnergies SE		7,188,877		466,382,596
Unibail-Rodamco-Westfield, New^(a)		370,696		26,543,574
Veolia Environnement SA		2,125,946		69,271,486
Vinci SA		1,588,164		200,620,473
Vivendi SE		2,205,312		24,852,891
Worldline SA/France^(a)(c)		744,802		10,068,597


				5,963,375,708

Germany — 7.9%
adidas AG		508,181		95,938,468
Allianz SE, Registered		1,265,197		338,030,214
BASF SE		2,799,803		133,841,758
Bayer AG, Registered		3,081,777		95,894,465
Bayerische Motoren Werke AG		1,000,330		104,087,432
Bechtle AG		256,126		13,280,862
Beiersdorf AG		316,018		46,245,964
Brenntag SE		434,948		38,453,749


Security	Shares		Value


Germany (continued)
Carl Zeiss Meditec AG, Bearer		125,868	$	13,267,962
Commerzbank AG		3,301,861		37,917,224
Continental AG		344,565		28,147,736
Covestro AG^(a)(c)		605,030		31,948,898
Daimler Truck Holding AG		1,677,957		59,965,415
Delivery Hero SE^(a)(c)		551,732		12,518,404
Deutsche Bank AG, Registered		6,079,957		78,539,214
Deutsche Boerse AG		596,018		118,690,815
Deutsche Lufthansa AG, Registered^(a)		1,876,413		15,603,072
Deutsche Post AG, Registered		3,105,630		148,741,505
Deutsche Telekom AG, Registered		10,153,663		249,250,181
E.ON SE		7,042,791		95,283,864
Evonik Industries AG		728,655		13,404,442
Fresenius Medical Care AG & Co. KGaA		643,333		24,864,563
Fresenius SE & Co. KGaA		1,321,362		37,094,374
GEA Group AG		514,487		20,604,709
Hannover Rueck SE		187,612		44,973,763
Heidelberg Materials AG		446,689		41,249,245
HelloFresh SE^(a)		503,198		6,654,669
Henkel AG & Co. KGaA		325,040		22,229,698
Infineon Technologies AG		4,096,629		149,350,489
Knorr-Bremse AG		226,972		14,019,178
LEG Immobilien SE^(a)		232,440		19,287,791
Mercedes-Benz Group AG		2,517,039		169,932,293
Merck KGaA		405,507		66,533,760
MTU Aero Engines AG		168,857		38,825,318
Muenchener Rueckversicherungs-Gesellschaft AGin Muenchen, Registered		427,510		181,999,098
Nemetschek SE		180,616		16,666,095
Puma SE		330,195		13,288,299
Rational AG		16,071		12,345,509
Rheinmetall AG		136,896		47,936,976
RWE AG		1,983,355		73,236,615
SAP SE		3,275,758		567,513,853
Scout24 SE^(c)		245,668		18,088,606
Siemens AG, Registered		2,384,120		426,814,328
Siemens Healthineers AG^(c)		884,589		49,228,463
Symrise AG, Class A		415,357		42,853,923
Talanx AG^(a)		201,895		14,165,153
Volkswagen AG		93,054		13,137,465
Vonovia SE		2,299,901		71,647,327
Wacker Chemie AG		57,068		6,187,354
Zalando SE^(a)(c)		701,136		13,999,322


				3,993,779,880

Hong Kong — 2.0%
AIA Group Ltd.		36,009,200		282,399,125
BOC Hong Kong Holdings Ltd.		11,511,000		27,589,484
Budweiser Brewing Co. APAC Ltd.^(c)		5,394,300		8,502,179
CK Asset Holdings Ltd.		6,141,184		27,711,110
CK Hutchison Holdings Ltd.		8,410,184		43,437,087
CK Infrastructure Holdings Ltd.		1,971,292		11,707,190
CLP Holdings Ltd.		5,157,500		41,019,858
ESR Group Ltd.^(c)		6,767,400		8,650,584
Futu Holdings Ltd., ADR^(a)(b)		184,673		8,627,923
Galaxy Entertainment Group Ltd.		6,791,000		35,244,472
Hang Lung Properties Ltd.		6,163,000		7,154,992
Hang Seng Bank Ltd.		2,378,900		24,764,749
Henderson Land Development Co. Ltd.		4,543,764		11,839,327
HKT Trust & HKT Ltd., Class SS		11,716,440		14,074,488
Hong Kong & China Gas Co. Ltd.		34,781,513		24,751,462
Hong Kong Exchanges & Clearing Ltd.		3,791,200		114,944,628
Hongkong Land Holdings Ltd.		3,431,200		10,710,508


S C H E D U L E O F I N V E S T M E N T S		53

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Hong Kong (continued)
Jardine Matheson Holdings Ltd.		495,800	$	19,908,410
Link REIT		8,033,929		40,295,630
MTR Corp. Ltd.		4,861,000		15,814,339
New World Development Co. Ltd.^(b)		4,653,033		5,703,000
Power Assets Holdings Ltd.		4,338,500		25,402,719
Sands China Ltd.^(a)		7,595,200		19,935,648
Sino Land Co. Ltd.		11,538,000		12,052,178
SITC International Holdings Co. Ltd.		4,119,000		6,249,936
Sun Hung Kai Properties Ltd.		4,533,000		42,308,238
Swire Pacific Ltd., Class A		1,495,500		11,570,729
Swire Properties Ltd.		3,599,655		6,726,939
Techtronic Industries Co. Ltd.		4,315,533		45,835,727
WH Group Ltd.^(c)		25,510,500		15,051,056
Wharf Holdings Ltd. (The)^(b)		3,345,168		9,773,537
Wharf Real Estate Investment Co. Ltd.		5,220,912		15,296,401
Xinyi Glass Holdings Ltd.		5,641,000		4,676,525


				999,730,178

Ireland — 0.9%
AIB Group PLC		4,914,354		21,585,926
Bank of Ireland Group PLC		3,314,230		30,477,591
CRH PLC		2,219,504		157,455,202
Flutter Entertainment PLC^(a)		554,222		113,757,448
Kerry Group PLC, Class A		490,964		43,761,588
Kingspan Group PLC		483,890		39,299,897
Smurfit Kappa Group PLC		816,807		30,438,137


				436,775,789

Israel — 0.7%
Azrieli Group Ltd.		129,148		8,702,333
Bank Hapoalim BM		3,952,516		33,627,654
Bank Leumi Le-Israel BM		4,775,493		36,270,660
Check Point Software Technologies Ltd.^(a)(b)		293,459		46,639,439
CyberArk Software Ltd.^(a)(b)		130,639		30,501,594
Elbit Systems Ltd.		83,867		17,300,361
Global-e Online Ltd.^(a)(b)		282,894		10,684,906
ICL Group Ltd.		2,419,301		11,003,683
Isracard Ltd.		1		4
Israel Discount Bank Ltd., Class A		3,847,990		18,666,175
Mizrahi Tefahot Bank Ltd.		480,364		17,877,855
Monday.com Ltd.^(a)		83,047		17,443,192
Nice Ltd.^(a)		198,102		41,102,573
Teva Pharmaceutical Industries Ltd., ADR^(a)		3,515,894		42,542,318
Wix.com Ltd.^(a)		175,180		22,226,838


				354,589,585

Italy — 2.6%
Amplifon SpA		392,710		12,817,470
Assicurazioni Generali SpA		3,180,016		70,936,355
Banco BPM SpA		3,809,197		20,551,730
DiaSorin SpA		77,210		7,100,152
Enel SpA		25,513,913		174,091,016
Eni SpA		7,413,097		118,174,697
Ferrari NV		395,411		137,894,508
FinecoBank Banca Fineco SpA		1,917,311		27,644,482
Infrastrutture Wireless Italiane SpA^(c)		1,059,058		12,806,158
Intesa Sanpaolo SpA		48,749,212		150,210,631
Leonardo SpA		887,232		15,485,802
Mediobanca Banca di Credito Finanziario SpA		1,735,154		22,980,380
Moncler SpA		646,055		39,743,186
Nexi SpA^(a)(c)		1,859,454		14,262,871
Poste Italiane SpA^(c)		1,643,203		17,818,314
Prysmian SpA		823,947		36,261,769
Recordati Industria Chimica e Farmaceutica SpA		329,039		18,161,066


Security	Shares		Value


Italy (continued)
Snam SpA		6,327,150	$	30,901,444
Stellantis NV		6,941,026		152,887,506
Telecom Italia SpA/Milano^(a)(b)		31,605,329		9,526,077
Tenaris SA, NVS		1,476,994		23,328,066
Terna - Rete Elettrica Nazionale		4,413,258		37,212,807
UniCredit SpA		5,038,573		147,590,168


				1,298,386,655

Japan — 23.1%
Advantest Corp.		2,400,400		95,530,685
Aeon Co. Ltd.		2,050,800		49,008,328
AGC Inc.		627,900		23,614,215
Aisin Corp.		457,200		17,069,602
Ajinomoto Co. Inc.		1,397,900		57,404,647
ANA Holdings Inc.^(a)		488,000		10,783,903
Asahi Group Holdings Ltd.		1,507,100		56,015,804
Asahi Intecc Co. Ltd.		674,200		12,810,399
Asahi Kasei Corp.		3,901,000		29,583,392
Astellas Pharma Inc.		5,668,150		65,991,280
Azbil Corp.		357,500		11,552,499
Bandai Namco Holdings Inc.		1,877,500		40,652,640
BayCurrent Consulting Inc.^(b)		409,400		9,518,140
Bridgestone Corp.		1,786,000		77,392,170
Brother Industries Ltd.		712,400		11,934,531
Canon Inc.		3,138,000		86,442,876
Capcom Co. Ltd.		538,800		20,549,168
Central Japan Railway Co.		2,255,500		56,370,893
Chiba Bank Ltd. (The)		1,644,800		12,188,398
Chubu Electric Power Co. Inc.		2,001,100		25,959,642
Chugai Pharmaceutical Co. Ltd.		2,106,700		75,778,460
Concordia Financial Group Ltd.		3,317,500		15,809,362
Dai Nippon Printing Co. Ltd.		678,600		19,638,645
Daifuku Co. Ltd.		950,100		18,735,967
Dai-ichi Life Holdings Inc.		2,941,152		64,507,587
Daiichi Sankyo Co. Ltd.		5,802,185		173,711,814
Daikin Industries Ltd.		827,800		132,640,209
Daito Trust Construction Co. Ltd.		192,100		21,851,473
Daiwa House Industry Co. Ltd.		1,849,500		57,190,132
Daiwa House REIT Investment Corp.		7,253		12,815,330
Daiwa Securities Group Inc.		4,148,400		29,731,010
Denso Corp.		5,922,900		93,037,207
Dentsu Group Inc.		653,200		17,336,756
Disco Corp.		288,200		77,767,594
East Japan Railway Co.		948,800		54,264,359
Eisai Co. Ltd.		788,600		37,134,092
ENEOS Holdings Inc.		8,960,450		36,187,253
FANUC Corp.		2,989,000		82,682,803
Fast Retailing Co. Ltd.		549,000		146,570,244
Fuji Electric Co. Ltd.		393,800		19,721,505
FUJIFILM Holdings Corp.		1,167,700		74,014,546
Fujitsu Ltd.		550,600		76,210,883
GLP J-REIT		14,457		12,907,694
Hamamatsu Photonics KK		438,800		17,334,752
Hankyu Hanshin Holdings Inc.		715,400		21,888,036
Hikari Tsushin Inc.		62,400		10,873,188
Hirose Electric Co. Ltd.		95,148		11,070,734
Hitachi Construction Machinery Co. Ltd.		336,500		9,547,314
Hitachi Ltd.		2,919,800		229,351,308
Honda Motor Co. Ltd.		14,489,400		161,963,381
Hoshizaki Corp.		339,900		12,366,022
Hoya Corp.		1,109,200		140,900,644
Hulic Co. Ltd.		1,200,100		13,251,917
Ibiden Co. Ltd.		352,600		17,742,809


54		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Japan (continued)
Idemitsu Kosan Co. Ltd.		3,191,315	$	17,721,306
Iida Group Holdings Co. Ltd.		489,780		7,394,178
Inpex Corp.		3,019,343		41,040,286
Isuzu Motors Ltd.		1,823,400		24,880,186
ITOCHU Corp.		3,729,000		169,237,315
Japan Airlines Co. Ltd.		441,200		8,477,996
Japan Exchange Group Inc.		1,562,200		34,574,144
Japan Metropolitan Fund Invest		21,883		14,855,123
Japan Post Bank Co. Ltd.		4,549,800		47,317,220
Japan Post Holdings Co. Ltd.		6,495,300		62,177,438
Japan Post Insurance Co. Ltd.		615,400		11,521,445
Japan Real Estate Investment Corp.		4,003		15,345,663
Japan Tobacco Inc.		3,758,800		99,072,135
JFE Holdings Inc.		1,799,575		28,413,162
JSR Corp.		550,400		15,011,972
Kajima Corp.		1,303,700		23,266,947
Kansai Electric Power Co. Inc. (The)		2,204,500		30,074,090
Kao Corp.		1,457,400		57,665,764
Kawasaki Kisen Kaisha Ltd.		431,200		21,009,695
KDDI Corp.		4,695,200		155,575,620
KDX Realty Investment Corp.		12,864		13,954,117
Keisei Electric Railway Co. Ltd.		404,800		18,317,145
Keyence Corp.		610,692		273,222,304
Kikkoman Corp.		444,600		27,355,447
Kintetsu Group Holdings Co. Ltd.		566,700		17,486,920
Kirin Holdings Co. Ltd.		2,432,700		34,967,523
Kobe Bussan Co. Ltd.		471,600		12,050,654
Koei Tecmo Holdings Co. Ltd.		357,000		4,446,849
Koito Manufacturing Co. Ltd.		649,000		9,935,729
Komatsu Ltd.		2,902,000		82,561,757
Konami Group Corp.		311,900		19,181,286
Kose Corp.		104,300		6,823,582
Kubota Corp.		3,149,300		47,672,416
Kyocera Corp.		4,015,600		58,788,665
Kyowa Kirin Co. Ltd.		837,000		13,184,395
Lasertec Corp.		236,400		61,565,414
LY Corp.		8,366,722		26,029,142
M3 Inc.		1,380,100		21,777,974
Makita Corp.		701,000		18,867,408
Marubeni Corp.		4,491,400		76,608,296
MatsukiyoCocokara & Co.		1,076,000		19,558,206
Mazda Motor Corp.		1,762,600		21,368,784
McDonald’s Holdings Co. Japan Ltd.^(b)		269,500		11,999,346
MEIJI Holdings Co. Ltd.		726,408		17,567,893
MINEBEA MITSUMI Inc.		1,134,900		23,458,617
MISUMI Group Inc.		889,900		15,257,240
Mitsubishi Chemical Group Corp.		4,009,100		24,173,830
Mitsubishi Corp.		10,822,000		186,516,545
Mitsubishi Electric Corp.		6,061,400		89,952,988
Mitsubishi Estate Co. Ltd.		3,520,800		48,783,901
Mitsubishi HC Capital Inc.		2,696,100		19,116,546
Mitsubishi Heavy Industries Ltd.		1,002,500		66,870,229
Mitsubishi UFJ Financial Group Inc.		35,820,280		335,512,314
Mitsui & Co. Ltd.		4,086,300		165,728,989
Mitsui Chemicals Inc.		566,000		16,657,528
Mitsui Fudosan Co. Ltd.		2,788,100		69,991,811
Mitsui OSK Lines Ltd.		1,078,800		38,750,998
Mizuho Financial Group Inc.		7,556,416		137,236,300
MonotaRO Co. Ltd.		759,500		7,153,134
MS&AD Insurance Group Holdings Inc.		1,345,288		55,553,311
Murata Manufacturing Co. Ltd.		5,405,400		109,146,494
NEC Corp.		781,900		51,093,024


Security	Shares		Value


Japan (continued)
Nexon Co. Ltd.		1,070,000	$	17,076,158
Nidec Corp.		1,307,300		48,758,128
Nintendo Co. Ltd.		3,259,200		182,094,400
Nippon Building Fund Inc.		4,767		19,287,801
Nippon Express Holdings Inc.		235,900		14,041,080
Nippon Paint Holdings Co. Ltd.		2,972,500		23,412,372
Nippon Prologis REIT Inc.		7,023		12,495,332
Nippon Sanso Holdings Corp.		538,900		13,655,350
Nippon Steel Corp.		2,675,435		64,383,427
Nippon Telegraph & Telephone Corp.		93,467,600		117,372,326
Nippon Yusen KK		1,520,000		52,380,506
Nissan Chemical Corp.		394,000		15,713,826
Nissan Motor Co. Ltd.		7,269,600		28,539,177
Nissin Foods Holdings Co. Ltd.		627,000		20,284,312
Nitori Holdings Co. Ltd.		251,100		32,864,397
Nitto Denko Corp.		461,000		38,243,565
Nomura Holdings Inc.		9,412,400		50,696,557
Nomura Real Estate Holdings Inc.		364,500		9,974,799
Nomura Real Estate Master Fund Inc.		13,303		14,557,011
Nomura Research Institute Ltd.		1,217,571		37,237,608
NTT Data Group Corp.		1,976,755		28,472,438
Obayashi Corp.		2,015,800		18,659,329
Obic Co. Ltd.		216,900		33,317,910
Odakyu Electric Railway Co. Ltd.		968,700		14,802,212
Oji Holdings Corp.		2,638,500		10,316,089
Olympus Corp.		3,762,500		55,698,779
Omron Corp.		549,900		24,726,392
Ono Pharmaceutical Co. Ltd.		1,215,600		21,910,129
Open House Group Co. Ltd.		247,900		7,752,357
Oracle Corp. Japan		120,600		9,504,381
Oriental Land Co. Ltd./Japan		3,423,100		127,134,174
ORIX Corp.		3,669,500		70,855,350
Osaka Gas Co. Ltd.		1,172,700		24,693,370
Otsuka Corp.		357,800		15,055,424
Otsuka Holdings Co. Ltd.		1,308,500		51,434,937
Pan Pacific International Holdings Corp.		1,190,900		25,743,070
Panasonic Holdings Corp.		6,918,468		65,163,505
Rakuten Group Inc.^(a)(b)		4,640,700		20,385,471
Recruit Holdings Co. Ltd.		4,522,400		178,628,990
Renesas Electronics Corp.^(a)		4,607,000		75,589,706
Resona Holdings Inc.		6,654,900		36,736,771
Ricoh Co. Ltd.		1,725,700		13,563,992
Rohm Co. Ltd.		1,084,000		18,709,011
SBI Holdings Inc.		771,880		18,961,738
SCSK Corp.		480,400		9,432,468
Secom Co. Ltd.		658,600		47,801,405
Seiko Epson Corp.		902,600		13,175,621
Sekisui Chemical Co. Ltd.		1,189,800		16,987,415
Sekisui House Ltd.		1,893,700		42,748,751
Seven & i Holdings Co. Ltd.		2,357,080		93,092,443
SG Holdings Co. Ltd.		979,700		12,687,213
Sharp Corp./Japan^(a)		804,500		5,409,702
Shimadzu Corp.		741,700		20,509,464
Shimano Inc.		239,600		34,400,643
Shimizu Corp.		1,727,300		11,562,761
Shin-Etsu Chemical Co. Ltd.		5,706,700		224,628,156
Shionogi & Co. Ltd.		818,700		39,294,663
Shiseido Co. Ltd.		1,253,200		34,935,063
Shizuoka Financial Group Inc., NVS		1,446,300		13,219,187
SMC Corp.		179,300		99,806,357
SoftBank Corp.		9,018,900		119,823,690
SoftBank Group Corp.		3,223,300		139,151,803


S C H E D U L E O F I N V E S T M E N T S		55

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Japan (continued)
Sompo Holdings Inc.		964,750	$	50,023,675
Sony Group Corp.		3,956,200		387,977,838
Square Enix Holdings Co. Ltd.		264,300		10,327,848
Subaru Corp.		1,927,000		38,442,316
SUMCO Corp.^(b)		1,085,600		16,458,150
Sumitomo Chemical Co. Ltd.		4,524,000		10,652,122
Sumitomo Corp.		3,256,800		74,899,355
Sumitomo Electric Industries Ltd.		2,219,400		29,499,379
Sumitomo Metal Mining Co. Ltd.		774,300		21,400,624
Sumitomo Mitsui Financial Group Inc.		3,986,400		207,346,012
Sumitomo Mitsui Trust Holdings Inc.		2,046,120		41,931,664
Sumitomo Realty & Development Co. Ltd.		887,700		27,917,396
Suntory Beverage & Food Ltd.		432,000		14,093,899
Suzuki Motor Corp.		1,154,200		51,845,115
Sysmex Corp.		526,100		28,500,040
T&D Holdings Inc.		1,567,600		25,957,487
Taisei Corp.		552,400		20,139,723
Takeda Pharmaceutical Co. Ltd.		4,964,010		145,894,632
TDK Corp.		1,216,000		60,501,850
Terumo Corp.		2,107,800		71,353,142
TIS Inc.		687,100		15,282,367
Tobu Railway Co. Ltd.		590,900		15,648,958
Toho Co. Ltd./Tokyo		348,300		11,345,783
Tokio Marine Holdings Inc.		5,638,100		148,662,159
Tokyo Electric Power Co. Holdings Inc.^(a)		4,786,500		25,484,058
Tokyo Electron Ltd.		1,479,600		274,572,950
Tokyo Gas Co. Ltd.		1,217,800		27,975,134
Tokyu Corp.		1,635,400		19,190,241
TOPPAN Holdings Inc.		763,400		21,042,692
Toray Industries Inc.		4,341,600		21,692,491
Tosoh Corp.		807,300		10,409,843
TOTO Ltd.		434,000		11,746,326
Toyota Industries Corp.		458,800		38,804,892
Toyota Motor Corp.		33,267,120		664,271,695
Toyota Tsusho Corp.		666,400		43,670,142
Trend Micro Inc./Japan^(a)		419,500		23,999,328
Unicharm Corp.		1,266,100		43,564,436
USS Co. Ltd.		654,280		12,373,354
West Japan Railway Co.		682,600		28,429,959
Yakult Honsha Co. Ltd.		795,200		17,368,429
Yamaha Corp.		430,400		9,464,735
Yamaha Motor Co. Ltd.		2,800,700		26,471,504
Yamato Holdings Co. Ltd.		876,700		15,155,009
Yaskawa Electric Corp.		750,600		28,287,333
Yokogawa Electric Corp.		707,600		13,904,834
Zensho Holdings Co. Ltd.		287,100		14,058,915
ZOZO Inc.		434,200		9,507,462


				11,714,882,736

Netherlands — 4.9%
ABN AMRO Bank NV, CVA^(c)		1,488,993		21,914,080
Adyen NV^(a)(c)		68,114		85,427,671
Aegon Ltd.		5,250,319		30,973,924
AerCap Holdings NV^(a)		627,159		48,015,293
Akzo Nobel NV		535,102		41,102,506
ASM International NV		147,506		81,752,782
ASML Holding NV		1,264,657		1,097,201,086
ASR Nederland NV		494,938		23,324,692
BE Semiconductor Industries NV		239,847		36,043,795
Davide Campari-Milano NV		1,643,901		16,654,744
EXOR NV, NVS^(b)		292,754		28,324,682
Ferrovial SE		1,603,946		61,166,843
Heineken Holding NV		406,549		34,112,561


Security	Shares		Value


Netherlands (continued)
Heineken NV		903,429	$	90,880,897
IMCD NV		178,748		27,284,224
ING Groep NV		11,338,646		161,104,754
JDE Peet’s NV		385,076		9,505,741
Koninklijke Ahold Delhaize NV		3,018,515		84,890,154
Koninklijke KPN NV		10,495,211		35,701,985
Koninklijke Philips NV^(a)		2,469,209		52,237,492
NN Group NV		846,892		34,712,606
OCI NV		327,615		9,357,990
Prosus NV		4,588,592		136,518,306
Qiagen NV, NVS		691,869		30,017,981
Randstad NV		342,309		19,463,759
Universal Music Group NV		2,571,480		75,801,376
Wolters Kluwer NV		778,518		114,766,817


				2,488,258,741

New Zealand — 0.2%
Auckland International Airport Ltd.		4,145,853		21,375,575
EBOS Group Ltd.		493,674		11,305,288
Fisher & Paykel Healthcare Corp. Ltd.		1,820,500		26,293,551
Mercury NZ Ltd.		2,175,008		8,973,946
Meridian Energy Ltd.		4,017,115		13,609,139
Spark New Zealand Ltd.		5,711,772		18,556,367


				100,113,866

Norway — 0.6%
Adevinta ASA^(a)		1,093,576		11,749,658
Aker BP ASA		973,529		25,838,995
DNB Bank ASA		2,881,223		56,010,141
Equinor ASA		2,826,138		80,875,826
Gjensidige Forsikring ASA		617,747		9,936,135
Kongsberg Gruppen ASA		277,747		14,154,915
Mowi ASA		1,455,675		26,202,624
Norsk Hydro ASA		4,142,526		24,277,284
Orkla ASA		2,302,354		18,034,626
Salmar ASA		223,088		12,383,708
Telenor ASA		2,174,187		24,124,902
Yara International ASA		513,445		16,970,716


				320,559,530

Portugal — 0.2%
EDP - Energias de Portugal SA		9,719,078		43,351,332
Galp Energia SGPS SA		1,530,391		24,091,021
Jeronimo Martins SGPS SA		888,155		20,199,594


				87,641,947

Singapore — 1.3%
CapitaLand Ascendas REIT		11,672,900		25,297,824
CapitaLand Integrated Commercial Trust		16,717,125		24,921,327
CapitaLand Investment Ltd./Singapore		8,137,300		17,863,712
City Developments Ltd.		1,563,600		7,096,851
DBS Group Holdings Ltd.		5,681,800		134,575,040
Genting Singapore Ltd.		18,808,000		14,124,885
Grab Holdings Ltd., Class A^(a)		5,928,298		18,199,875
Jardine Cycle & Carriage Ltd.		306,800		5,920,021
Keppel Ltd.		4,555,800		24,208,431
Mapletree Logistics Trust		10,858,628		12,486,070
Mapletree Pan Asia Commercial Trust		7,423,000		8,038,470
Oversea-Chinese Banking Corp. Ltd.		10,621,998		101,603,334
Sea Ltd., ADR^(a)(b)		1,148,311		43,796,582
Seatrium Ltd.^(a)		142,248,184		10,556,692
SembCorp.Industries Ltd.		2,795,100		11,763,145
Singapore Airlines Ltd.^(b)		4,656,900		23,113,509
Singapore Exchange Ltd.		2,654,800		18,537,496
Singapore Technologies Engineering Ltd.		4,919,100		13,630,520


56		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Singapore (continued)
Singapore Telecommunications Ltd.		25,660,285	$	45,791,874
United Overseas Bank Ltd.		3,966,800		83,614,351
UOL Group Ltd.		1,452,900		6,746,651
Wilmar International Ltd.		5,898,200		14,442,852


				666,329,512

Spain — 2.5%
Acciona SA		75,462		9,761,366
ACS Actividades de Construccion y Servicios SA		671,914		26,514,057
Aena SME SA^(c)		234,603		41,502,953
Amadeus IT Group SA		1,409,250		98,760,761
Banco Bilbao Vizcaya Argentaria SA		18,687,871		174,907,943
Banco Santander SA		50,769,065		204,043,879
CaixaBank SA		12,822,480		54,674,929
Cellnex Telecom SA^(c)		1,772,907		68,216,787
Corp. ACCIONA Energias Renovables SA		200,810		5,218,063
EDP Renovaveis SA		951,003		15,399,814
Enagas SA		820,886		13,363,845
Endesa SA		988,051		19,575,220
Grifols SA^(a)		932,701		10,159,675
Iberdrola SA		18,945,257		228,119,013
Iberdrola SA, NVS		328,971		3,961,129
Industria de Diseno Textil SA		3,412,366		145,903,780
Naturgy Energy Group SA		386,104		10,396,913
Redeia Corp. SA		1,347,914		22,429,450
Repsol SA		4,089,727		60,398,236
Telefonica SA		15,399,556		62,658,222


				1,275,966,035

Sweden — 3.0%
Alfa Laval AB		908,775		33,345,503
Assa Abloy AB, Class B		3,139,816		86,111,709
Atlas Copco AB, Class A		8,425,988		134,473,826
Atlas Copco AB, Class B		4,896,252		67,803,060
Beijer Ref AB, Class B		1,205,438		16,412,027
Boliden AB		857,858		22,769,838
Epiroc AB		2,069,298		36,561,907
Epiroc AB, Class B		1,221,439		19,044,550
EQT AB		1,113,897		29,910,521
Essity AB, Class B		1,912,064		44,901,553
Evolution AB^(c)		574,087		67,032,456
Fastighets AB Balder, Class B^(a)		2,041,758		13,551,744
Getinge AB, Class B		716,378		15,314,104
H & M Hennes & Mauritz AB, Class B		2,026,288		28,588,376
Hexagon AB, Class B		6,512,640		71,076,256
Holmen AB, Class B		240,730		9,486,997
Husqvarna AB, Class B		1,106,020		8,603,629
Industrivarden AB, Class A		407,017		12,813,704
Industrivarden AB, Class C		457,108		14,366,482
Indutrade AB		855,833		20,791,674
Investment AB Latour, Class B		464,291		11,677,196
Investor AB, Class B		5,429,505		127,836,424
L E Lundbergforetagen AB, Class B		238,004		12,409,720
Lifco AB, Class B		725,099		17,494,393
Nibe Industrier AB, Class B		4,746,958		28,363,932
Saab AB, Class B		252,472		16,256,910
Sagax AB, Class B		618,387		15,027,615
Sandvik AB		3,344,574		70,289,176
Securitas AB, Class B		1,542,390		14,982,858
Skandinaviska Enskilda Banken AB, Class A		4,977,740		70,694,542
Skanska AB, Class B		1,065,604		18,477,146
SKF AB, Class B		1,067,345		21,032,158
Svenska Cellulosa AB SCA, Class B		1,897,755		25,835,880


Security	Shares		Value


Sweden (continued)
Svenska Handelsbanken AB, Class A		4,568,934	$	49,254,624
Swedbank AB, Class A		2,659,542		54,196,087
Swedish Orphan Biovitrum AB^(a)		610,647		17,139,719
Tele2 AB, Class B		1,670,709		14,244,517
Telefonaktiebolaget LM Ericsson, Class B		9,172,776		50,849,060
Telia Co. AB		7,379,000		19,031,710
Volvo AB, Class A		630,907		15,510,940
Volvo AB, Class B		4,733,781		113,446,578
Volvo Car AB, Class B^(a)		1,865,075		4,862,253


				1,541,873,354

Switzerland — 10.3%
ABB Ltd., Registered		5,017,759		212,310,428
Adecco Group AG, Registered		500,697		21,651,671
Alcon Inc.		1,567,289		117,977,672
Avolta AG, Registered^(a)		301,174		11,506,303
Bachem Holding AG, Class B		103,312		6,916,090
Baloise Holding AG, Registered		143,530		22,927,641
Banque Cantonale Vaudoise, Registered		94,365		12,082,152
Barry Callebaut AG, Registered		10,886		15,900,168
BKW AG		66,165		10,511,527
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		3,072		39,041,889
Chocoladefabriken Lindt & Spruengli AG, Registered		345		43,731,845
Cie. Financiere Richemont SA, Class A, Registered		1,632,813		242,529,131
Clariant AG, Registered		674,005		8,628,393
Coca-Cola HBC AG, Class DI		695,716		20,451,786
DSM-Firmenich AG		581,543		61,486,839
EMS-Chemie Holding AG, Registered		21,923		16,549,994
Geberit AG, Registered		105,040		60,463,957
Givaudan SA, Registered		28,964		120,447,854
Helvetia Holding AG, Registered		114,027		16,467,830
Holcim AG		1,634,749		124,860,206
Julius Baer Group Ltd.		661,553		36,015,870
Kuehne + Nagel International AG, Registered		169,927		57,584,800
Logitech International SA, Registered		515,629		43,226,864
Lonza Group AG, Registered		233,237		114,030,896
Nestle SA, Registered		8,375,663		954,411,210
Novartis AG, Registered		6,429,852		664,934,902
Partners Group Holding AG		71,181		96,035,623
Roche Holding AG, Bearer		100,393		30,411,794
Roche Holding AG, NVS		2,203,881		627,480,961
Sandoz Group AG^(a)		1,283,783		44,027,317
Schindler Holding AG, Participation Certificates, NVS		127,281		31,704,260
Schindler Holding AG, Registered		73,350		17,460,294
SGS SA		469,329		43,368,735
Siemens Energy AG^(a)		1,629,558		24,210,288
SIG Group AG		955,604		20,002,895
Sika AG, Registered		478,178		132,004,777
Sonova Holding AG, Registered		161,459		51,601,733
STMicroelectronics NV		2,143,565		94,118,596
Straumann Holding AG		350,009		53,166,844
Swatch Group AG (The), Bearer		88,999		20,893,303
Swatch Group AG (The), Registered		161,650		7,354,920
Swiss Life Holding AG, Registered		95,069		68,271,710
Swiss Prime Site AG, Registered		240,112		24,319,826
Swiss Re AG		943,374		108,016,733
Swisscom AG, Registered		80,994		48,457,378
Temenos AG, Registered		199,641		20,317,544
UBS Group AG, Registered		10,316,856		308,810,394


S C H E D U L E O F I N V E S T M E N T S		57

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Switzerland (continued)
VAT Group AG^(c)		84,425	$	39,302,270
Zurich Insurance Group AG		457,806		232,606,425


				5,200,592,538

United Kingdom — 14.2%
3i Group PLC		3,049,227		95,455,862
abrdn PLC		6,277,140		13,354,205
Admiral Group PLC		814,483		25,898,218
Anglo American PLC		3,986,223		95,022,315
Antofagasta PLC		1,237,062		26,962,069
Ashtead Group PLC		1,371,799		89,704,527
Associated British Foods PLC		1,087,919		32,223,451
AstraZeneca PLC		4,862,100		644,601,852
Auto Trader Group PLC^(c)		2,851,561		26,234,015
Aviva PLC		8,596,661		46,925,509
BAE Systems PLC		9,538,807		142,094,496
Barclays PLC		48,407,824		89,957,578
Barratt Developments PLC		3,080,709		20,996,045
Berkeley Group Holdings PLC		335,273		20,302,331
BP PLC		53,768,651		314,031,316
British American Tobacco PLC		6,664,831		196,503,248
BT Group PLC		21,429,683		30,360,105
Bunzl PLC		1,050,324		42,684,920
Burberry Group PLC		1,193,916		19,666,092
Centrica PLC		17,484,433		30,598,616
Coca-Cola Europacific Partners PLC		641,661		44,210,443
Compass Group PLC		5,385,097		148,325,774
Croda International PLC		434,532		26,300,739
DCC PLC		309,420		22,494,623
Diageo PLC		7,051,881		254,698,879
Endeavour Mining PLC		570,828		10,140,132
Entain PLC		1,985,155		24,179,967
Experian PLC		2,885,421		120,098,119
Glencore PLC		32,940,194		174,285,189
GSK PLC		12,828,607		253,720,768
Haleon PLC		17,357,649		70,502,659
Halma PLC		1,181,416		32,700,516
Hargreaves Lansdown PLC		1,092,292		10,539,978
Hikma Pharmaceuticals PLC		520,152		12,690,176
HSBC Holdings PLC		61,126,805		477,259,902
Imperial Brands PLC		2,706,010		64,958,115
Informa PLC		4,372,144		42,941,226
InterContinental Hotels Group PLC		537,916		50,969,187
Intertek Group PLC		502,241		28,507,534
J Sainsbury PLC		5,064,673		17,291,604
JD Sports Fashion PLC		7,904,188		11,680,128
Kingfisher PLC		6,067,473		16,869,546
Land Securities Group PLC		2,213,579		18,662,022
Legal & General Group PLC		18,411,928		59,220,902
Lloyds Banking Group PLC		200,160,296		107,296,993
London Stock Exchange Group PLC		1,315,265		148,774,939
M&G PLC		7,017,333		19,840,576
Melrose Industries PLC		4,225,851		31,497,325
Mondi PLC, NVS		1,362,259		24,411,171
National Grid PLC		11,553,915		153,887,792
NatWest Group PLC, NVS		18,031,583		50,887,619
Next PLC		374,949		40,028,249
NMC Health PLC, NVS^(d)		473,933		6
Ocado Group PLC^(a)		1,761,492		12,066,059
Pearson PLC		2,020,245		24,783,915
Persimmon PLC		999,249		18,404,272
Phoenix Group Holdings PLC		2,301,446		14,693,883
Prudential PLC		8,557,006		87,902,419


Security	Shares		Value

United Kingdom (continued)
Reckitt Benckiser Group PLC		2,248,080	$	162,538,193
RELX PLC		5,927,053		244,633,534
Rentokil Initial PLC		7,842,082		40,384,726
Rio Tinto PLC		3,532,301		244,503,805
Rolls-Royce Holdings PLC^(a)		26,403,425		100,239,284
Sage Group PLC (The)		3,185,911		47,431,592
Schroders PLC		2,475,239		12,663,567
Segro PLC		3,718,194		41,294,520
Severn Trent PLC		836,794		27,506,275
Shell PLC		20,758,412		643,558,677
Smith & Nephew PLC		2,714,475		37,961,937
Smiths Group PLC		1,127,005		23,096,433
Spirax-Sarco Engineering PLC		229,582		28,895,379
SSE PLC		3,416,549		72,765,429
St. James’s Place PLC		1,692,138		13,930,192
Standard Chartered PLC		7,419,088		56,070,063
Taylor Wimpey PLC		10,824,654		20,209,540
Tesco PLC		22,558,747		81,744,314
Unilever PLC		7,843,881		381,684,928
United Utilities Group PLC		2,101,819		28,308,899
Vodafone Group PLC		72,101,481		61,296,388
Whitbread PLC		622,094		28,198,240
Wise PLC, Class A^(a)(b)		1,890,487		19,282,783
WPP PLC		3,308,055		31,990,515


				7,181,489,329


Total Common Stocks — 99.3% (Cost: $42,831,846,081)				50,255,523,162


Preferred Stocks

Germany — 0.4%
Bayerische Motoren Werke AG, Preference Shares, NVS		185,315		18,107,217
Dr Ing hc F Porsche AG, Preference Shares, NVS^(c)		357,319		30,337,074
Henkel AG & Co. KGaA, Preference Shares, NVS		529,430		40,585,321
Porsche Automobil Holding SE, Preference Shares, NVS		478,940		23,910,580
Sartorius AG, Preference Shares, NVS^(b)		82,249		30,004,640
Volkswagen AG, Preference Shares, NVS		646,841		83,193,471


				226,138,303


Total Preferred Stocks — 0.4% (Cost: $281,203,138)				226,138,303


Rights

Spain — 0.0%
ACS Actividades de Construccion y Servicios SA, (Expires 02/09/24)^(a)		676,786		310,115


Total Rights — 0.0% (Cost: $336,169)				310,115


Total Long-Term Investments — 99.7% (Cost: $43,113,385,388)				50,481,971,580


Short-Term Securities

Money Market Funds — 0.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.51%^(e)(f)(g)		130,963,542		131,042,120


58		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%^(e)(f)		60,210,000	$	60,210,000


Total Short-Term Securities — 0.4% (Cost: $191,150,860)				191,252,120


Total Investments — 100.1% (Cost: $43,304,536,248)				50,673,223,700

Liabilities in Excess of Other Assets — (0.1)%				(39,759,287	)


Net Assets — 100.0%			$	50,633,464,413

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	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.

^(d)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

Affiliates




Affiliated Issuer	Value at 07/31/23		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 01/31/24		Shares Held at 01/31/24		Income			Capital Gain Distributions from Underlying Funds

BlackRock Cash Funds: Institutional, SL Agency Shares	$	125,894,889	$	5,109,569	^(a)	$	—		$	13,121	$	24,541	$	131,042,120		130,963,542	$	341,592	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		60,760,000		—			(550,000	)^(a)		—		—		60,210,000		60,210,000		1,646,832			—


									$	13,121	$	24,541	$	191,252,120			$	1,988,424		$	—

^(a)

Represents net amount purchased (sold).

^(b)

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
TOPIX Index		230		03/07/24	$	39,476	$	2,705,928
Euro STOXX 50 Index		1,181		03/15/24		59,377		1,148,716
FTSE 100 Index		318		03/15/24		30,627		(74,752	)
SPI 200 Index		145		03/21/24		17,971		258,790

							$	4,038,682


S C H E D U L E O F I N V E S T M E N T S			59

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE 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 Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Assets — Derivative Financial Instruments
Futures contracts
Unrealized appreciation on futures contracts^(a)	$	—	$	—	$	4,113,434	$	—	$	—	$	—	$	4,113,434


Liabilities — Derivative Financial Instruments
Futures contracts
Unrealized depreciation on futures contracts^(a)	$	—	$	—	$	74,752	$	—	$	—	$	—	$	74,752

^(a)

For the period ended January 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:




	Commodity Contracts		Credit Contracts		Equity Contracts			Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Net Realized Gain (Loss) from
Futures contracts	$	—	$	—	$	8,450,400		$	—	$	—	$	—	$	8,450,400


Net Change in Unrealized Appreciation (Depreciation) on
Futures contracts	$	—	$	—	$	(1,996,837	)	$	—	$	—	$	—	$	(1,996,837	)

Average Quarterly Balances of Outstanding Derivative Financial Instruments




Futures contracts:
Average notional value of contracts — long	$	184,106,427

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




	Level 1		Level 2		Level 3		Total


Assets
Investments
Long-Term Investments
Common Stocks	$	595,245,433	$	49,660,277,723	$	6	$	50,255,523,162
Preferred Stocks		—		226,138,303		—		226,138,303
Rights		310,115		—		—		310,115
Short-Term Securities
Money Market Funds		191,252,120		—		—		191,252,120


	$	786,807,668	$	49,886,416,026	$	6	$	50,673,223,700

Derivative Financial Instruments^(a)
Assets
Equity Contracts	$	—	$	4,113,434	$	—	$	4,113,434


60		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE ETF

Fair Value Hierarchy as of Period End (continued)




	Level 1		Level 2			Level 3		Total

Liabilities
Equity Contracts	$	—	$	(74,752	)	$	—	$	(74,752	)

	$	—	$	4,038,682		$	—		4,038,682

^(a)

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

See notes to financial statements.


S C H E D U L E O F I N V E S T M E N T S			61

Schedule of Investments (unaudited)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

Australia — 9.4%
Abacus Group		1,687,377	$	1,200,725
Abacus Storage King		1,687,112		1,256,252
Accent Group Ltd.		1,445,979		1,899,727
Adbri Ltd.^(a)		1,486,439		2,956,687
AET&D Holdings No. 1 Pty Ltd.^(b)		169,200		1
AGL Energy Ltd.		2,358,839		13,322,592
Alpha HPA Ltd., NVS^(a)		2,130,183		1,197,199
ALS Ltd.		1,763,303		14,487,354
Altium Ltd.		464,293		14,915,788
Alumina Ltd.^(a)		9,585,144		7,211,034
AMP Ltd.		10,614,864		6,437,593
Ansell Ltd.		487,051		7,660,252
APM Human Services International Ltd.		1,094,184		528,175
ARB Corp. Ltd.		299,327		6,543,392
Arena REIT		1,353,871		3,069,773
Atlas Arteria Ltd.		4,455,361		15,706,928
AUB Group Ltd.		396,349		7,887,387
Audinate Group Ltd.^(a)		291,910		3,142,632
Aussie Broadband Ltd.^(a)		835,859		2,092,661
Austal Ltd.		1,187,876		1,575,877
Australian Agricultural Co. Ltd.^(a)		718,883		688,570
Australian Clinical Labs Ltd.^(c)		467,465		917,014
AVZ Minerals Ltd.^(a)(b)(c)		10,717,468		3,290,599
Bank of Queensland Ltd.^(c)		2,514,941		9,873,557
Bapcor Ltd.		1,316,045		4,817,394
Beach Energy Ltd.		6,133,322		6,581,891
Bega Cheese Ltd.		1,049,895		2,558,685
Bellevue Gold Ltd.^(a)		4,411,469		3,816,005
Bendigo & Adelaide Bank Ltd.		2,175,137		13,896,812
Boral Ltd.^(a)		1,061,327		3,657,784
Boss Energy Ltd. ^(a)		1,540,011		5,572,390
Breville Group Ltd.		385,827		6,818,663
Brickworks Ltd.		292,117		5,575,953
BWP Trust		1,833,816		4,106,342
Calix Ltd.^(a)(c)		536,653		589,515
Capricorn Metals Ltd.^(a)		1,140,612		3,400,569
Centuria Capital Group		2,511,290		2,801,384
Centuria Industrial REIT		2,087,885		4,423,084
Centuria Office REIT		1,368,678		1,185,039
Cettire Ltd.^(a)		948,284		1,928,656
Chalice Mining Ltd.^(a)(c)		1,333,876		959,025
Challenger Ltd.		1,728,376		7,332,082
Champion Iron Ltd.		1,484,995		8,146,728
Charter Hall Group		1,813,025		14,141,039
Charter Hall Long Wale REIT		2,548,006		6,204,150
Charter Hall Retail REIT		2,066,350		4,992,420
Charter Hall Social Infrastructure REIT		1,239,469		2,236,103
Cleanaway Waste Management Ltd.		8,149,738		13,796,924
Clinuvel Pharmaceuticals Ltd.		142,755		1,460,392
Codan Ltd./Australia		374,731		1,980,749
Collins Foods Ltd.		429,372		3,366,233
Core Lithium Ltd.^(a)(c)		7,251,342		910,731
Coronado Global Resources Inc.^(d)		2,897,122		3,081,602
Corporate Travel Management Ltd.		475,546		6,290,579
Costa Group Holdings Ltd.		1,514,581		3,151,231
Credit Corp. Group Ltd.		258,377		2,872,422
Cromwell Property Group		5,595,319		1,509,323
CSR Ltd.		1,803,972		8,123,228
Data#3 Ltd.		551,872		3,509,680
De Grey Mining Ltd.^(a)		5,518,376		4,391,432


Security	Shares		Value

Australia (continued)
Deep Yellow Ltd.^(a)(c)		2,757,680	$	2,604,459
Deterra Royalties Ltd.		1,624,217		5,849,525
Dexus Industria REIT		753,552		1,376,787
Dicker Data Ltd.		270,670		1,991,263
Domain Holdings Australia Ltd.		963,490		2,090,720
Domino’s Pizza Enterprises Ltd.		256,821		6,605,805
Downer EDI Ltd.		2,542,259		6,923,714
Eagers Automotive Ltd.		593,200		5,469,894
Elders Ltd.		607,938		3,551,467
Evolution Mining Ltd.		7,240,530		15,167,058
EVT Ltd.		354,493		2,891,865
Firefinch Ltd.^(a)(b)(c)		4,681,624		399,279
FleetPartners Group Ltd., NVS^(a)		1,021,507		2,039,820
Flight Centre Travel Group Ltd.		671,400		9,275,986
G8 Education Ltd.		2,822,119		1,953,849
Genesis Minerals Ltd.^(a)(c)		3,689,667		3,911,332
Gold Road Resources Ltd.		4,135,023		4,085,599
GrainCorp Ltd., Class A		869,280		4,567,103
Growthpoint Properties Australia Ltd.		1,140,120		1,784,319
GUD Holdings Ltd.		548,150		4,350,991
Hansen Technologies Ltd.		650,881		2,186,597
Harvey Norman Holdings Ltd.		2,155,595		6,194,766
Healius Ltd.^(a)		2,189,640		1,969,914
HealthCo REIT		1,739,541		1,549,850
Helia Group Ltd.		1,295,130		4,164,624
HMC Capital Ltd.		857,845		3,402,337
HomeCo Daily Needs REIT		6,383,263		5,254,759
HUB24 Ltd.		294,317		7,112,459
Iluka Resources Ltd.		1,654,078		7,725,506
Imdex Ltd.		1,874,165		2,067,832
Incitec Pivot Ltd.		7,440,908		12,994,655
Ingenia Communities Group		1,566,556		4,537,601
Inghams Group Ltd.		1,448,852		4,054,323
Insignia Financial Ltd.		2,044,945		2,839,487
Integral Diagnostics Ltd.^(c)		738,641		954,633
IPH Ltd.		833,294		3,708,189
IRESS Ltd.		721,159		3,828,918
JB Hi-Fi Ltd.		420,847		15,656,544
Johns Lyng Group Ltd.		843,241		3,721,820
Judo Capital Holdings Ltd.^(a)(c)		2,422,128		1,855,285
Jumbo Interactive Ltd.		200,362		2,054,608
Karoon Energy Ltd.^(a)		3,065,059		3,856,362
Kelsian Group Ltd.		682,239		3,173,098
Latin Resources Ltd., NVS^(c)		8,985,266		988,826
Lendlease Corp. Ltd.		2,508,041		12,039,804
Leo Lithium Ltd.^(a)(b)		4,370,759		1,303,250
Lifestyle Communities Ltd.		338,367		3,937,699
Link Administration Holdings Ltd.		1,957,869		2,774,035
Liontown Resources Ltd.^(a)(c)		4,661,163		3,103,758
Lovisa Holdings Ltd.		250,233		3,722,839
Lynas Rare Earths Ltd.^(a)(c)		3,578,499		13,606,454
MA Financial Group Ltd.		433,622		1,652,292
Maas Group Holdings Ltd.^(c)		370,096		983,346
Mader Group Ltd.^(c)		126,356		533,783
Magellan Financial Group Ltd.		694,463		4,070,516
McMillan Shakespeare Ltd.		211,811		2,385,082
Megaport Ltd.^(a)(c)		591,527		4,830,532
Metcash Ltd.		3,527,408		8,367,586
Monadelphous Group Ltd.		353,622		3,169,030
Mount Gibson Iron Ltd.^(a)		2,610,143		901,497
Nanosonics Ltd.^(a)(c)		964,696		1,851,245
National Storage REIT		4,667,669		7,000,162


62		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Australia (continued)
Netwealth Group Ltd.		474,750	$	5,156,565
Neuren Pharmaceuticals Ltd., NVS^(a)		436,465		6,686,951
New Hope Corp. Ltd.		2,105,357		7,363,778
NEXTDC Ltd.^(a)		1,978,117		17,908,205
nib holdings Ltd.		1,844,712		9,756,419
Nick Scali Ltd.		260,116		2,103,042
Nickel Industries Ltd.		6,567,191		3,365,684
Nine Entertainment Co. Holdings Ltd.		5,510,457		7,069,896
NRW Holdings Ltd.		1,548,556		2,736,447
Nufarm Ltd./Australia		1,394,687		5,027,308
Objective Corp. Ltd.		123,534		991,174
oOh!media Ltd.		2,186,647		2,282,403
Orora Ltd.		5,160,907		9,380,372
Paladin Energy Ltd.^(a)		10,860,717		9,099,438
Pepper Money Ltd./Australia		607,357		529,947
Perenti Ltd.^(a)		3,067,482		1,631,283
Perpetual Ltd.		431,870		7,267,272
Perseus Mining Ltd.		5,291,818		6,231,107
PEXA Group Ltd.^(a)		510,356		3,813,878
Pinnacle Investment Management Group Ltd.		551,133		3,635,607
Platinum Asset Management Ltd.		1,679,358		1,286,338
PolyNovo Ltd.^(a)		2,311,772		2,840,894
Premier Investments Ltd.		335,968		6,117,025
Pro Medicus Ltd.		200,763		13,226,066
PWR Holdings Ltd.		305,397		2,093,717
Qube Holdings Ltd.		6,430,071		13,670,679
Ramelius Resources Ltd.		4,150,761		4,311,277
Red 5 Ltd.^(a)		9,937,207		2,038,326
Redox Ltd./Australia, NVS		703,096		1,051,687
Region RE Ltd.		4,524,041		6,660,788
Regis Resources Ltd.^(a)		3,057,279		4,169,724
Reliance Worldwide Corp. Ltd.		3,025,938		8,273,206
Resolute Mining Ltd.^(a)		8,312,044		2,334,997
Rural Funds Group		1,436,564		1,942,583
Sandfire Resources Ltd.^(a)		1,747,128		8,210,782
Sayona Mining Ltd.^(a)(c)		34,247,691		879,989
Select Harvests Ltd.^(a)(c)		435,489		1,062,814
Seven Group Holdings Ltd.		631,963		14,791,169
Sigma Healthcare Ltd.		5,010,239		3,384,518
Silex Systems Ltd.^(a)(c)		658,409		2,194,405
Silver Lake Resources Ltd.^(a)		3,589,598		2,824,871
Sims Ltd.		634,591		5,943,980
SiteMinder Ltd.^(a)		819,626		2,802,142
SmartGroup Corp. Ltd.		486,525		3,066,701
Stanmore Resources Ltd.		1,037,490		2,662,357
Star Entertainment Grp Ltd. (The)^(a)		9,610,952		3,487,575
Steadfast Group Ltd.		3,581,075		13,856,516
Strike Energy Ltd.^(a)(c)		8,872,219		2,486,097
Super Retail Group Ltd.		607,240		6,266,827
Tabcorp Holdings Ltd.		8,714,026		4,527,049
Technology One Ltd.		1,120,271		11,446,014
Telix Pharmaceuticals Ltd.^(a)		923,323		6,884,096
Temple & Webster Group Ltd.^(a)(c)		325,246		1,926,658
Tyro Payments Ltd.^(a)		1,721,285		1,221,113
Ventia Services Group Pty Ltd.		3,140,606		6,738,092
Viva Energy Group Ltd.^(d)		4,152,326		9,458,432
Vulcan Steel Ltd.		259,006		1,252,614
Waypoint REIT Ltd.		2,582,121		4,156,979
Webjet Ltd.^(a)		1,492,829		7,242,771
Weebit Nano Ltd.^(a)(c)		665,433		1,496,727
West African Resources Ltd.^(a)		3,739,231		2,370,040
Westgold Resources Ltd.^(a)		1,722,101		2,484,383


Security	Shares		Value

Australia (continued)
Whitehaven Coal Ltd.		3,059,077	$	16,723,195
Worley Ltd.		1,417,767		13,615,553
Yancoal Australia Ltd., NVS		1,280,107		4,993,789


				919,537,077

Austria — 1.1%
ams-OSRAM AG^(a)(c)		3,946,018		9,235,406
ANDRITZ AG		259,327		15,964,809
AT&S Austria Technologie & Systemtechnik AG^(c)		95,994		2,319,070
BAWAG Group AG^(d)		300,736		15,483,860
CA Immobilien Anlagen AG		143,455		4,709,349
DO & CO AG^(c)		27,998		3,903,210
EVN AG		140,228		3,875,620
Immofinanz AG^(a)		132,946		3,155,465
Lenzing AG^(a)(c)		72,421		2,422,314
Oesterreichische Post AG		131,946		4,465,518
Palfinger AG		58,855		1,523,155
Porr AG		84,118		1,180,262
Raiffeisen Bank International AG		568,491		11,852,611
Schoeller-Bleckmann Oilfield Equipment AG		39,355		1,869,268
Semperit AG Holding		38,022		595,811
UNIQA Insurance Group AG		490,663		4,116,872
Vienna Insurance Group AG Wiener Versicherung Gruppe		148,887		4,208,093
Wienerberger AG		409,358		13,872,310


				104,753,003

Belgium — 1.4%
Ackermans & van Haaren NV		91,413		15,284,720
Aedifica SA		185,649		12,097,685
Barco NV		267,785		4,448,551
Bekaert SA		140,426		6,848,996
bpost SA		377,936		1,544,703
Cofinimmo SA		142,641		10,366,761
Colruyt Group NV		180,618		8,252,076
Deme Group NV		28,534		3,580,989
Euronav NV		381,375		6,718,078
Fagron		264,003		4,753,741
Galapagos NV^(a)(c)		178,446		6,693,992
Intervest Offices & Warehouses NV		112,501		2,528,861
KBC Ancora		135,887		6,258,658
Kinepolis Group NV		51,847		2,295,293
Melexis NV		77,200		6,614,750
Montea NV		54,313		4,661,937
Ontex Group NV^(a)(c)		243,341		1,922,800
Proximus SADP		595,578		5,651,634
Recticel SA^(c)		155,275		1,919,675
Retail Estates NV		41,049		2,689,131
Shurgard Self Storage Ltd.		107,497		4,985,912
Solvay SA		282,844		7,735,354
Tessenderlo Group SA		97,749		2,798,561
VGP NV		52,903		6,204,936
X-Fab Silicon Foundries SE^(a)(c)(d)		212,452		2,041,802
Xior Student Housing NV		108,843		3,259,968


				142,159,564

Denmark — 2.1%
ALK-Abello A/S^(a)		511,505		8,254,094
Alm Brand A/S		3,268,294		5,933,162
Amagerbanken A/S^(b)		130,550		—
Ambu A/S, Class B^(a)(c)		723,361		11,998,419
Bavarian Nordic A/S^(a)(c)		303,530		6,973,064
Better Collective A/S^(a)		113,990		3,187,490
cBrain A/S^(c)		41,132		1,491,143


S C H E D U L E O F I N V E S T M E N T S		63

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Denmark (continued)
Chemometec A/S^(c)		59,870	$	3,238,181
D/S Norden A/S		86,668		4,663,320
Dfds A/S		135,734		4,598,697
FLSmidth & Co. A/S^(c)		197,796		8,120,599
GN Store Nord A/S^(a)		524,480		12,368,558
H Lundbeck A/S		1,070,919		5,424,150
H Lundbeck A/S, Class A		183,908		811,462
ISS A/S		607,904		11,502,747
Jyske Bank A/S, Registered		184,683		14,146,091
Matas A/S		136,627		2,449,571
Netcompany Group A/S^(a)(c)(d)		173,642		6,926,308
Nilfisk Holding A/S^(a)		44,730		788,260
NKT A/S^(a)(c)		206,924		14,427,551
NTG Nordic Transport Group A/S, Class A^(a)		25,054		1,124,456
Per Aarsleff Holding A/S		66,047		3,040,130
Ringkjoebing Landbobank A/S		105,340		16,978,044
Royal Unibrew A/S		193,524		12,676,891
Scandinavian Tobacco Group A/S, Class A^(d)		219,499		3,936,474
Schouw & Co. A/S		49,877		3,988,172
Solar A/S, Class B		19,735		1,285,195
Spar Nord Bank A/S		279,554		4,756,364
Sydbank A/S		219,597		9,745,533
Topdanmark A/S		172,478		7,649,102
TORM PLC, Class A		129,381		4,545,691
Zealand Pharma A/S, Class A^(a)		191,753		13,098,960


				210,127,879

Finland — 1.2%
Cargotec OYJ, Class B		146,185		8,310,632
Citycon OYJ		307,768		1,609,482
Finnair OYJ^(a)		35,355,555		1,352,590
Huhtamaki OYJ		374,379		14,693,596
Kemira OYJ		412,224		7,715,712
Kempower OYJ^(a)(c)		64,387		2,060,370
Kojamo OYJ		475,992		5,643,078
Konecranes OYJ		258,104		11,084,666
Mandatum OYJ^(a)		1,545,018		6,975,860
Marimekko OYJ		109,720		1,638,699
Metsa Board OYJ, Class B		624,789		5,032,182
Musti Group OYJ		121,838		3,436,208
Nokian Renkaat OYJ		454,470		4,095,830
Outokumpu OYJ		1,403,990		5,993,239
Puuilo OYJ		235,101		2,264,583
QT Group OYJ^(a)(c)		73,960		5,216,809
Revenio Group OYJ		82,370		2,261,487
TietoEVRY OYJ		408,742		9,485,059
TietoEVRY OYJ, New		12,844		296,608
Tokmanni Group Corp.		182,627		3,131,490
Valmet OYJ		604,082		17,097,756
YIT OYJ^(c)		474,217		1,010,179


				120,406,115

France — 3.9%
ABC arbitrage		83,506		399,334
Abivax SA, NVS		72,366		944,728
Air France-KLM, NVS^(a)(c)		444,432		5,664,800
Altarea SCA		15,256		1,335,460
Alten SA		112,889		17,454,921
Antin Infrastructure Partners SA		128,986		2,371,761
Aperam SA		195,752		6,032,319
Atos SE^(a)(c)		434,122		1,853,230
Aubay		28,268		1,255,169
Believe SA^(a)(c)		71,120		837,767


Security	Shares		Value

France (continued)
Beneteau SACA		141,210	$	1,692,341
Boiron SA		13,589		587,746
Bonduelle SCA		49,102		521,672
Carmila SA		238,967		4,246,205
CGG SA^(a)		2,810,097		1,347,697
Cie. des Alpes		83,565		1,361,307
Cie. Plastic Omnium SA		221,082		2,533,921
Clariane SE^(c)		299,582		757,086
Coface SA		403,954		5,458,540
Derichebourg SA		346,478		1,787,674
Elior Group SA^(a)(c)(d)		468,982		1,355,161
Elis SA		715,017		15,720,982
Equasens		19,934		1,147,083
Eramet SA^(c)		32,191		2,217,223
Esker SA^(c)		20,691		3,474,623
Etablissements Maurel et Prom SA		219,945		1,303,743
Euroapi SA^(a)		200,523		1,340,129
Eutelsat Communications SACA^(a)(c)		547,567		1,997,179
Exclusive Networks SA^(a)(c)		52,598		1,074,326
Fnac Darty SA		42,718		1,141,211
Forvia SE^(a)		603,291		10,368,903
Gaztransport Et Technigaz SA		135,256		18,962,559
ICADE		131,458		4,450,670
ID Logistics Group SACA^(a)		10,786		3,846,623
Imerys SA		129,101		4,293,411
Interparfums SA		78,859		4,172,451
IPSOS SA		150,911		9,904,399
JCDecaux SE^(a)		243,121		5,049,701
Kaufman & Broad SA		48,427		1,433,541
LISI SA		69,945		1,646,363
Manitou BF SA^(c)		45,315		1,016,168
Mercialys SA		360,197		4,097,871
Mersen SA		85,219		3,091,391
Metropole Television SA		92,394		1,310,378
Neoen SA^(d)		261,382		7,557,351
Nexans SA		117,704		10,713,216
Nexity SA^(c)		171,181		2,853,290
OVH Groupe SAS, NVS^(a)(c)		145,600		1,555,218
Peugeot Invest		19,222		2,074,609
Pierre & Vacances SA, NVS^(a)		501,676		724,961
Quadient SA		131,671		2,789,715
Rexel SA		935,505		24,915,557
Rubis SCA		372,155		9,410,506
SCOR SE		585,215		17,457,640
Seche Environnement SACA, NVS		8,644		1,076,149
SES SA, Class A		1,469,433		9,015,750
Societe BIC SA		93,587		6,475,521
Societe pour l’Informatique Industrielle, NVS		34,314		2,586,658
SOITEC^(a)		96,217		13,906,150
Sopra Steria Group SACA		59,229		13,892,405
SPIE SA		535,959		17,728,219
Television Francaise 1 SA		154,604		1,363,378
Trigano SA		33,421		5,264,490
Ubisoft Entertainment SA^(a)(c)		367,205		8,099,838
Valeo SE		792,339		10,342,043
Vallourec SACA^(a)(c)		609,203		8,715,377
Valneva SE^(a)(c)		398,853		1,625,902
Verallia SA^(d)		283,421		9,994,656
Vicat SACA		64,973		2,527,811
Virbac SACA		16,254		5,865,882
Voltalia SA^(a)(c)		141,296		1,209,107
VusionGroup^(a)		30,630		4,547,974


64		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

France (continued)
Waga Energy SA^(a)(c)		17,120	$	441,446
Wavestone		28,802		1,908,020
Wendel SE		101,997		9,247,307


				378,745,913

Germany — 4.2%
1&1 AG		137,243		2,710,237
About You Holding SE^(a)		158,510		697,508
Adesso SE		11,536		1,157,348
Adtran Networks SE^(a)		71,981		1,555,798
AIXTRON SE		434,472		16,170,276
Amadeus Fire AG		20,863		2,520,336
Aroundtown SA^(a)(c)		3,574,120		7,972,914
Atoss Software AG		15,091		4,134,955
Aurubis AG		121,191		8,717,667
Auto1 Group SE^(a)(d)		415,189		1,727,354
BayWa AG^(c)		53,844		1,729,579
Befesa SA^(d)		138,556		4,868,995
Bertrandt AG		22,435		1,198,940
Bilfinger SE		107,700		4,565,686
Borussia Dortmund GmbH & Co. KGaA^(a)		285,080		1,171,174
CANCOM SE		141,241		4,483,495
Ceconomy AG^(a)		541,068		1,314,334
Cewe Stiftung & Co. KGaA		19,092		2,080,621
CompuGroup Medical SE & Co. KgaA		102,426		4,391,482
CropEnergies AG^(c)		103,337		1,285,416
CTS Eventim AG & Co. KGaA		239,113		16,182,486
CureVac NV^(a)		380,461		1,392,748
Datagroup SE		17,442		1,000,912
Dermapharm Holding SE		71,890		3,057,885
Deutsche Pfandbriefbank AG^(c)(d)		522,144		3,142,307
Deutz AG		444,619		2,687,105
Duerr AG		199,494		4,561,119
Eckert & Ziegler Strahlen- und Medizintechnik AG		56,136		2,791,996
Elmos Semiconductor SE		30,274		2,114,449
ElringKlinger AG		104,459		575,813
Encavis AG^(a)		466,436		6,493,869
Energiekontor AG		26,735		2,183,254
Evotec SE^(a)		544,058		8,322,512
Fielmann Group AG		97,463		5,071,237
flatexDEGIRO AG^(a)(c)		275,430		3,011,844
Formycon AG^(a)		33,915		1,844,723
Fraport AG Frankfurt Airport Services Worldwide^(a)		141,983		8,333,264
Freenet AG		455,518		12,587,187
Gerresheimer AG		135,002		13,763,311
GFT Technologies SE		63,609		2,249,252
Grand City Properties SA^(a)		269,979		2,620,613
GRENKE AG^(c)		108,114		2,618,229
Hamborner REIT AG^(c)		273,750		1,934,971
Hamburger Hafen und Logistik AG, NVS		100,550		1,795,480
Heidelberger Druckmaschinen AG^(a)		980,728		1,157,819
Hensoldt AG		244,228		7,331,942
Hornbach Holding AG & Co. KGaA		34,051		2,444,825
Hugo Boss AG		216,334		13,511,054
Hypoport SE^(a)(c)		17,062		3,624,178
Ionos SE^(a)(c)		80,253		1,696,552
Jenoptik AG		198,810		6,208,681
JOST Werke SE^(d)		48,928		2,362,773
K+S AG, Registered^(c)		732,249		10,270,693
KION Group AG		276,715		12,625,098
Kloeckner & Co. SE		209,411		1,514,487
Knaus Tabbert AG^(c)		15,801		701,135
Kontron AG		146,899		3,406,655


Security	Shares		Value

Germany (continued)
Krones AG		54,217	$	6,718,835
LANXESS AG		317,484		8,475,653
MBB SE^(c)		8,158		789,958
Medios AG^(a)		50,397		820,748
METRO AG^(a)		415,730		2,802,004
MorphoSys AG^(a)(c)		131,481		5,506,655
Mutares SE & Co. KGaA		51,336		2,085,173
Nagarro SE^(a)(c)		31,403		3,069,260
Nordex SE^(a)(c)		455,843		4,651,094
Norma Group SE		115,258		1,874,336
Northern Data AG^(a)(c)		60,647		1,808,618
Patrizia SE		160,408		1,368,599
Pfeiffer Vacuum Technology AG		13,132		2,203,458
PNE AG		131,687		1,897,899
ProSiebenSat.1 Media SE^(c)		538,010		3,784,746
PVA TePla AG^(a)		81,681		1,848,488
Redcare Pharmacy NV^(a)(d)		58,005		8,074,024
SAF-Holland SE		174,120		2,811,472
Salzgitter AG		89,469		2,495,415
Secunet Security Networks AG		6,127		1,097,476
SGL Carbon SE^(a)(c)		234,968		1,487,414
Siltronic AG		69,256		6,509,247
Sixt SE^(c)		53,196		5,184,269
SMA Solar Technology AG^(a)(c)		59,245		3,038,672
Stabilus SE		94,220		6,602,315
Steico SE^(c)		20,108		616,443
Stratec SE^(c)		28,899		1,319,516
Stroeer SE & Co. KGaA		130,573		7,666,212
Suedzucker AG		233,811		3,299,996
SUESS MicroTec SE		70,026		2,378,956
Synlab AG, NVS		254,960		2,740,749
TAG Immobilien AG^(a)		671,763		9,402,554
Takkt AG		94,987		1,387,861
TeamViewer SE^(a)(d)		532,797		7,638,520
thyssenkrupp AG		1,910,911		11,793,542
Thyssenkrupp Nucera AG & Co. KGaa^(a)		96,668		1,576,513
United Internet AG, Registered^(e)		368,320		9,680,418
Varta AG^(a)(c)		73,291		1,376,957
VERBIO Vereinigte BioEnergie AG		72,627		1,588,692
Vib Vermoegen AG^(a)		30,231		470,457
Vitesco Technologies Group AG^(a)		30,731		2,685,700
Vossloh AG		43,853		1,945,235
Wacker Neuson SE		80,953		1,500,064
Wuestenrot & Wuerttembergische AG		102,690		1,486,679


				409,207,465

Hong Kong — 1.4%
ASMPT Ltd.		1,184,200		11,427,975
Bank of East Asia Ltd. (The)		4,156,000		4,726,034
Brightoil Petroleum Holdings Ltd.^(b)		12,938,512		17
Cafe de Coral Holdings Ltd.		1,270,000		1,277,391
Champion REIT		8,712,000		2,074,484
Chow Sang Sang Holdings International Ltd.		1,292,000		1,408,026
CITIC Telecom International Holdings Ltd.		6,709,000		2,392,248
Citychamp Watch & Jewellery Group Ltd.^(a)		5,546,000		766,145
CK Life Sciences International Holdings Inc.^(c)		14,480,000		984,146
C-Mer Eye Care Holdings Ltd.^(a)(c)		2,438,000		823,988
Comba Telecom Systems Holdings Ltd.		7,230,000		603,377
Cowell e Holdings Inc.^(a)(c)		983,000		2,015,313
Dah Sing Banking Group Ltd.		1,849,200		1,111,653
Dah Sing Financial Holdings Ltd.		716,400		1,442,789
EC Healthcare^(c)		1,687,000		248,574
E-Commodities Holdings Ltd.		5,528,000		1,048,813


S C H E D U L E O F I N V E S T M E N T S		65

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Hong Kong (continued)
Far East Consortium International Ltd.		5,036,500	$	812,715
First Pacific Co. Ltd.		9,080,000		3,448,918
Fortune REIT		6,025,000		3,449,902
Fosun Tourism Group^(a)(d)		968,000		496,402
Giordano International Ltd.^(c)		3,860,000		1,012,158
Guotai Junan International Holdings Ltd.		10,187,000		640,112
Hang Lung Group Ltd.		3,099,000		3,730,648
Health and Happiness H&H International Holdings Ltd.^(c)		860,500		1,124,116
HKBN Ltd.^(c)		3,224,000		1,339,770
Hutchison Telecommunications Hong Kong Holdings Ltd.		8,596,000		1,141,187
Hysan Development Co. Ltd.		2,445,000		4,220,051
IGG Inc.^(a)(c)		2,982,000		1,061,405
Johnson Electric Holdings Ltd.		1,412,250		1,852,006
JS Global Lifestyle Co. Ltd.^(c)(d)		5,151,500		796,460
Kerry Logistics Network Ltd.^(c)		1,343,388		1,492,577
Kerry Properties Ltd.^(c)		2,232,500		3,545,171
Luk Fook Holdings International Ltd.		1,350,000		3,344,527
Man Wah Holdings Ltd.		6,004,000		3,742,617
Melco International Development Ltd.^(a)(c)		2,612,000		1,694,089
Melco Resorts & Entertainment Ltd., ADR^(a)		839,940		6,559,931
Nissin Foods Co. Ltd.		1,050,000		774,578
NWS Holdings Ltd.		3,742,000		3,251,501
Pacific Basin Shipping Ltd.		20,342,000		5,662,385
PAX Global Technology Ltd.		2,698,000		1,887,715
PCCW Ltd.		16,616,000		8,594,659
Perfect Medical Health Management Ltd.		1,872,000		719,700
Realord Group Holdings Ltd.^(a)(c)		1,664,000		1,132,328
Sa Sa International Holdings Ltd.^(a)		5,154,000		540,382
Shangri-La Asia Ltd.^(a)		4,788,000		2,975,280
Shun Tak Holdings Ltd.^(a)		5,044,000		503,612
SJM Holdings Ltd.^(a)(c)		9,770,000		2,745,649
SmarTone Telecommunications Holdings Ltd.		1,278,000		639,168
Stella International Holdings Ltd.		1,822,000		2,402,896
SUNeVision Holdings Ltd.		2,382,000		817,319
Texhong Textile Group Ltd.^(a)		1,002,000		474,216
Theme International Holdings Ltd.^(a)(c)		18,330,000		973,377
United Energy Group Ltd.^(c)		30,204,000		3,209,785
United Laboratories International Holdings Ltd. (The)^(c)		3,794,000		3,279,724
Value Partners Group Ltd.^(c)		4,833,000		1,112,869
Vitasoy International Holdings Ltd.^(c)		3,296,000		2,529,940
Viva Goods Co. Ltd.^(a)(c)		14,968,000		1,341,465
Vobile Group Ltd.^(a)(c)		5,617,000		1,041,812
VSTECS Holdings Ltd.^(c)		3,040,000		1,638,078
VTech Holdings Ltd.		659,000		3,816,920
Xinyi Electric Storage Holdings Ltd.^(a)		1		—
Yue Yuen Industrial Holdings Ltd.		3,098,500		2,921,969


				132,843,062

Ireland — 0.3%
Cairn Homes PLC		2,531,615		3,884,321
Dalata Hotel Group PLC		806,228		4,186,552
Glanbia PLC		770,980		13,781,099
Glenveagh Properties PLC^(a)(d)		2,154,216		2,854,204
Greencore Group PLC^(a)		1,937,710		2,514,596
Irish Residential Properties REIT PLC		1,654,535		2,059,814
Origin Enterprises PLC		430,977		1,583,573
Uniphar PLC^(a)		888,982		2,699,632


				33,563,791


Security	Shares		Value

Israel — 2.8%
Africa Israel Residences Ltd.		22,481	$	1,194,385
Airport City Ltd.^(a)		265,820		4,435,460
Alony Hetz Properties & Investments Ltd.^(c)		585,292		4,429,848
Amot Investments Ltd.		922,244		4,791,496
Ashtrom Group Ltd.^(c)		169,843		2,554,571
Aura Investments Ltd.^(c)		350,880		997,404
Azorim-Investment Development & Construction Co. Ltd.^(a)		349,523		1,465,983
Bezeq The Israeli Telecommunication Corp. Ltd.		7,454,468		9,860,499
Big Shopping Centers Ltd.^(a)(c)		51,781		5,265,237
Blue Square Real Estate Ltd.^(c)		23,741		1,523,926
Camtek Ltd./Israel^(a)		112,379		8,709,353
Cellcom Israel Ltd.^(a)(c)		463,086		1,895,041
Cellebrite DI Ltd.^(a)		177,834		1,607,619
Clal Insurance Enterprises Holdings Ltd.^(a)(c)		252,777		3,933,094
Danel Adir Yeoshua Ltd.		21,757		1,883,340
Danya Cebus Ltd.		27,367		671,093
Delek Automotive Systems Ltd.		218,415		1,306,794
Delek Group Ltd.		35,884		4,443,577
Delta Galil Ltd.		51,799		2,395,584
Elco Ltd.^(c)		34,011		1,049,558
Electra Consumer Products 1970 Ltd.^(c)		42,954		915,956
Electra Ltd./Israel		8,085		3,081,481
Electra Real Estate Ltd.^(c)		100,045		1,018,056
Energix-Renewable Energies Ltd.		1,073,626		3,916,770
Enlight Renewable Energy Ltd.^(a)(c)		448,209		8,096,162
Equital Ltd.^(a)(c)		97,789		2,782,939
Fattal Holdings 1998 Ltd.^(a)(c)		28,569		3,243,281
FIBI Holdings Ltd.		63,626		2,699,515
First International Bank Of Israel Ltd. (The)		215,733		8,651,567
Fiverr International Ltd.^(a)(c)		127,706		3,437,846
Formula Systems 1985 Ltd.		37,654		2,522,300
Fox Wizel Ltd.		30,284		2,145,938
G City Ltd.		334,583		1,070,396
Gav-Yam Lands Corp. Ltd.		—		2
Harel Insurance Investments & Financial Services Ltd.		402,988		3,342,765
Hilan Ltd.		59,529		3,308,912
Inmode Ltd.^(a)(c)		302,670		7,170,252
Isracard Ltd.		764,074		2,742,383
Israel Canada T.R Ltd.^(c)		557,757		1,881,218
Israel Corp Ltd.^(a)		14,903		3,415,398
Isras Holdings Ltd., NVS		11,516		1,102,745
Isras Investment Co. Ltd.		6,555		1,383,689
Ituran Location and Control Ltd.		55,987		1,392,957
Kenon Holdings Ltd./Singapore^(c)		81,773		2,019,334
Kornit Digital Ltd.^(a)		194,851		3,333,901
Kvutzat Acro Ltd., NVS^(c)		61,115		703,211
M Yochananof & Sons Ltd.^(c)		18,017		809,536
Magic Software Enterprises Ltd.		94,348		958,029
Matrix IT Ltd.		136,160		2,563,454
Maytronics Ltd.		183,140		2,009,346
Mega Or Holdings Ltd.		90,813		2,075,305
Melisron Ltd.		91,411		6,703,510
Menora Mivtachim Holdings Ltd.		88,826		2,231,399
Migdal Insurance & Financial Holdings Ltd.		1,560,698		1,728,366
Mivne Real Estate KD Ltd.		2,316,094		6,267,044
Nano Dimension Ltd., ADR^(a)(c)		960,392		2,304,941
Nano-X Imaging Ltd.^(a)(c)		213,669		1,162,359
Naphtha Israel Petroleum Corp. Ltd.		204,623		1,022,448
Nayax Ltd.^(a)		28,334		691,957
NEOGAMES SA^(a)		52,130		1,458,597


66		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Israel (continued)
Nova Ltd.^(a)		110,386	$	15,719,685
Oddity Tech Ltd., NVS^(c)		60,558		2,501,045
Oil Refineries Ltd.		9,829,787		3,395,389
One Software Technologies Ltd.		153,519		1,930,043
OPC Energy Ltd.^(a)(c)		425,292		3,013,457
OY Nofar Energy Ltd.^(a)		58,061		1,475,977
Pagaya Technologies Ltd., NVS		921,103		1,077,691
Partner Communications Co. Ltd.^(a)(c)		502,093		2,321,550
Paz Oil Co. Ltd.		39,331		3,233,005
Perion Network Ltd.^(a)		179,680		5,330,739
Phoenix Holdings Ltd. (The)		686,412		6,981,194
Prashkovsky Investments and Construction Ltd.^(c)		32,077		718,900
Radware Ltd.^(a)(c)		151,066		2,761,487
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.		36,278		2,029,365
Reit 1 Ltd.		743,450		3,318,834
Retailors Ltd.		71,637		1,423,804
Riskified Ltd.^(a)		324,849		1,491,057
Sapiens International Corp. NV		119,529		3,338,463
Sella Capital Real Estate Ltd.		804,726		1,813,253
Shapir Engineering and Industry Ltd.		555,069		3,129,073
Shikun & Binui Ltd.^(a)		1,245,220		3,249,317
Shufersal Ltd.^(a)(c)		1,007,899		5,407,841
SimilarWeb Ltd.^(a)		53,850		334,947
Strauss Group Ltd.^(a)		203,346		3,949,262
Summit Real Estate Holdings Ltd.		137,752		1,823,046
Tadiran Group Ltd.^(c)		12,534		832,270
Taro Pharmaceutical Industries Ltd.^(a)		35,723		1,537,875
Tel Aviv Stock Exchange Ltd.		370,447		2,295,141
Tower Semiconductor Ltd.^(a)(c)		421,106		12,008,043
WalkMe Ltd.^(a)		83,856		863,717
YH Dimri Construction & Development Ltd.^(c)		27,865		2,053,692
ZIM Integrated Shipping Services Ltd.^(c)		372,436		5,586,540


				278,724,829

Italy — 3.1%
A2A SpA		6,017,993		11,931,655
ACEA SpA		157,325		2,482,684
Anima Holding SpA^(d)		695,412		3,138,705
Arnoldo Mondadori Editore SpA		490,976		1,260,170
Ascopiave SpA		272,720		661,666
Azimut Holding SpA		412,726		11,506,267
Banca Generali SpA		224,435		8,556,111
Banca IFIS SpA		101,015		1,748,447
Banca Mediolanum SpA		851,789		8,716,975
Banca Monte dei Paschi di Siena SpA^(a)		3,148,105		11,049,014
Banca Popolare di Sondrio SpA		1,547,963		11,761,433
BFF Bank SpA^(d)		698,314		7,546,431
Bio On SpA^(b)(c)		19,879		—
BPER Banca		3,797,542		13,697,209
Brembo SpA		577,224		7,109,559
Brunello Cucinelli SpA		130,229		12,910,496
Buzzi SpA		368,890		12,538,568
Carel Industries SpA^(d)		166,561		4,033,435
CIR SpA-Compagnie Industriali^(a)		4,684,741		2,151,690
Credito Emiliano SpA		325,947		2,962,990
d’Amico International Shipping SA, NVS		160,557		1,071,842
Danieli & C Officine Meccaniche SpA		38,692		1,315,065
Datalogic SpA		93,522		610,863
De’ Longhi SpA		288,924		9,357,999
Digital Value SpA		14,493		1,015,791
El.En. SpA		167,288		1,651,070
Enav SpA^(d)		1,040,401		3,850,439


Security	Shares		Value

Italy (continued)
ERG SpA		227,009	$	6,656,471
Eurogroup Laminations SpA^(a)(c)		314,618		1,024,834
Ferretti SpA, NVS		582,921		1,852,091
Fila SpA		119,208		1,125,958
Fincantieri SpA^(a)(c)		2,127,104		1,127,543
GVS SpA^(a)(d)		261,910		1,670,423
Hera SpA		3,147,073		11,085,963
Industrie De Nora SpA^(c)		122,270		1,923,286
Interpump Group SpA		291,996		14,433,780
Iren SpA		2,498,096		5,242,930
Italgas SpA		1,863,171		10,622,682
Juventus Football Club SpA, NVS^(a)(c)		392,379		954,099
Lottomatica Group SpA^(a)(c)		255,198		2,963,115
LU-VE SpA, NVS		32,925		830,841
Maire Tecnimont SpA^(c)		562,861		2,925,199
MARR SpA		126,467		1,536,598
OVS SpA^(d)		792,467		1,887,661
Pharmanutra SpA		14,073		941,588
Piaggio & C SpA		615,679		2,046,677
Pirelli & C SpA^(d)		1,152,208		6,244,304
RAI Way SpA^(d)		354,790		1,940,113
Reply SpA		86,395		11,845,652
Safilo Group SpA^(a)(c)		842,128		1,007,423
Saipem SpA^(a)		4,530,424		6,498,525
Salcef Group SpA		72,629		1,844,519
Salvatore Ferragamo SpA^(c)		218,254		2,783,755
Sanlorenzo SpA/Ameglia		53,356		2,545,287
Saras SpA^(c)		1,997,182		3,381,493
Seco SpA^(a)(c)		145,656		488,625
Sesa SpA		29,761		4,038,206
SOL SpA		130,710		3,761,903
Spaxs SpA^(c)		218,385		1,204,569
Tamburi Investment Partners SpA		354,788		3,464,356
Technogym SpA^(d)		501,577		4,966,994
Technoprobe SpA^(a)		577,149		5,737,016
Tinexta SpA		77,996		1,649,396
Tod’s SpA^(a)		37,059		1,358,572
Unipol Gruppo SpA		1,515,812		9,412,597
Webuild SpA		1,542,910		3,245,327
Wiit SpA^(c)		36,128		720,317
Zignago Vetro SpA		135,391		1,977,984


				305,605,246

Japan — 34.0%
77 Bank Ltd. (The)		202,300		4,865,983
Abalance Corp.		39,600		725,816
ABC-Mart Inc.		375,700		6,511,070
Activia Properties Inc.		2,615		7,121,601
Adastria Co. Ltd.		95,480		2,225,742
ADEKA Corp.		295,200		5,776,088
Advance Logistics Investment Corp.		2,292		1,991,707
Advance Residence Investment Corp.		5,191		11,431,383
Aeon Delight Co. Ltd.		75,000		1,921,124
AEON Financial Service Co. Ltd.		408,900		3,724,113
Aeon Hokkaido Corp.		194,200		1,257,985
Aeon Mall Co. Ltd.		347,700		4,303,844
AEON REIT Investment Corp.		6,496		6,121,060
Ai Holdings Corp.		132,600		2,225,961
Aica Kogyo Co. Ltd.		193,900		4,492,852
Aichi Corp.		124,700		938,103
Aichi Financial Group Inc., NVS		166,100		2,932,234
Aida Engineering Ltd.		171,800		976,812
Aiful Corp.		1,200,500		3,009,835


S C H E D U L E O F I N V E S T M E N T S		67

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Japan (continued)
Ain Holdings Inc.		107,400	$	3,504,834
Air Water Inc.		707,300		9,342,880
Airtrip Corp.^(c)		50,800		625,261
Alfresa Holdings Corp.		701,000		11,495,656
Alpen Co. Ltd.		73,600		1,013,498
Alps Alpine Co. Ltd.		713,400		5,294,517
Amada Co. Ltd.		1,304,400		14,076,608
Amano Corp.		203,900		4,698,798
Amvis Holdings Inc.		155,000		2,855,570
Anicom Holdings Inc.		262,200		1,041,231
Anritsu Corp.		510,900		4,045,631
Anycolor Inc.^(a)(c)		83,900		2,128,633
AOKI Holdings Inc.		147,700		1,175,490
Aozora Bank Ltd.^(c)		441,400		9,703,238
Appier Group Inc.^(a)(c)		252,700		2,956,713
Arata Corp.		111,000		2,463,782
ARCLANDS Corp.		200,262		2,293,305
Arcs Co. Ltd.		147,800		2,940,818
Argo Graphics Inc.		63,100		1,851,561
Ariake Japan Co. Ltd.		69,200		2,218,944
Artience Co. Ltd.		129,700		2,426,904
As One Corp.		110,400		4,167,784
Asahi Holdings Inc.		278,200		3,873,826
Asahi Yukizai Corp.		44,900		1,249,091
Asics Corp.		618,100		18,781,660
ASKUL Corp.		150,100		2,028,850
Atom Corp.^(a)(c)		436,000		2,770,298
Autobacs Seven Co. Ltd.		238,500		2,592,757
Avex Inc.		120,000		1,151,112
Awa Bank Ltd. (The)		121,900		2,044,618
Axial Retailing Inc.		46,400		1,283,587
AZ-COM MARUWA Holdings Inc.		145,600		1,499,351
Bank of Nagoya Ltd. (The)		39,400		1,481,468
Base Co. Ltd.		27,900		617,157
Belc Co. Ltd.		39,600		1,691,912
Bell System24 Holdings Inc.		121,700		1,483,506
Belluna Co. Ltd.		228,000		981,110
Benefit One Inc.^(c)		304,300		4,342,304
Benesse Holdings Inc.		255,800		4,523,676
Bengo4.com Inc.^(a)(c)		32,900		888,247
Bic Camera Inc.		348,600		3,249,474
BIPROGY Inc.		294,100		8,610,789
BML Inc.		77,700		1,501,678
Bunka Shutter Co. Ltd.		200,400		1,996,227
C Uyemura & Co. Ltd.		40,700		3,088,509
C.I. Takiron Corp.		177,700		784,226
Calbee Inc.		306,100		6,434,283
Canon Electronics Inc.		48,300		686,733
Canon Marketing Japan Inc.		180,500		5,491,735
Casio Computer Co. Ltd.		714,000		6,156,326
Cawachi Ltd.		59,100		1,083,072
Central Glass Co. Ltd.		81,500		1,524,873
Change Holdings Inc.^(c)		169,500		1,558,756
Chiyoda Corp.^(a)(c)		595,300		1,365,299
Chofu Seisakusho Co. Ltd.		65,300		934,124
Chudenko Corp.		102,500		1,932,679
Chugin Financial Group Inc., NVS		552,000		3,908,741
Chugoku Electric Power Co. Inc. (The)		1,109,000		7,885,322
Chugoku Marine Paints Ltd.		151,500		1,927,203
Citizen Watch Co. Ltd.		690,000		4,376,188
CKD Corp.		196,300		3,461,374
Coca-Cola Bottlers Japan Holdings Inc.		513,500		6,969,231


Security	Shares		Value

Japan (continued)
COLOPL Inc.		215,200	$	919,213
Colowide Co. Ltd.		274,500		4,388,545
Comforia Residential REIT Inc.		2,616		5,482,689
COMSYS Holdings Corp.		439,800		9,629,459
Comture Corp.		90,900		1,124,042
Cosmo Energy Holdings Co. Ltd.		234,800		9,751,974
Cosmos Pharmaceutical Corp.		76,400		8,206,439
Cover Corp.^(a)(c)		91,100		1,751,755
CRE Logistics REIT Inc.		2,461		2,574,623
Create Restaurants Holdings Inc.		439,700		3,300,043
Create SD Holdings Co. Ltd.		103,200		2,245,768
Credit Saison Co. Ltd.		562,300		10,437,119
Curves Holdings Co. Ltd.		196,400		909,880
CyberAgent Inc.		1,646,100		10,623,645
CYBERDYNE Inc.^(a)(c)		400,400		556,673
Cybozu Inc.		112,200		1,684,421
Daicel Corp.		868,800		8,511,779
Daido Steel Co. Ltd.		500,900		5,219,560
Daiei Kankyo Co. Ltd.		153,500		2,611,394
Daihen Corp.		71,000		3,364,309
Daiho Corp.		27,500		722,332
Daiichikosho Co. Ltd.		286,800		3,929,118
Daiki Aluminium Industry Co. Ltd.		97,700		827,469
Daikokutenbussan Co. Ltd.		21,200		1,200,075
Daio Paper Corp.		313,000		2,357,590
Daiseki Co. Ltd.		155,260		4,439,328
Daishi Hokuetsu Financial Group Inc.		140,600		3,896,677
Daiwa Industries Ltd.		119,700		1,276,844
Daiwa Office Investment Corp.		1,121		4,778,836
Daiwa Securities Living Investments Corp.		7,802		5,613,216
Daiwabo Holdings Co. Ltd.		312,700		6,799,565
DCM Holdings Co. Ltd.		412,200		3,839,822
Demae-Can Co. Ltd.^(a)(c)		202,200		575,387
DeNA Co. Ltd.		275,400		2,780,576
Denka Co. Ltd.		305,000		5,318,657
Dentsu Soken Inc.		102,600		3,830,652
Descente Ltd.		133,200		3,076,525
Dexerials Corp.		210,800		6,074,934
DIC Corp.		292,500		5,520,433
Digital Arts Inc.		40,700		1,395,083
Digital Garage Inc.		128,600		3,100,462
Dip Corp.		134,200		2,291,895
DMG Mori Co. Ltd.		433,700		8,684,221
Doshisha Co. Ltd.		98,800		1,487,714
Doutor Nichires Holdings Co. Ltd.		121,400		1,792,480
Dowa Holdings Co. Ltd.		200,400		6,989,016
DTS Corp.		155,300		3,819,672
Duskin Co. Ltd.		151,700		3,522,234
DyDo Group Holdings Inc.		74,800		1,502,118
Eagle Industry Co. Ltd.		51,900		601,216
Earth Corp.		63,500		1,943,901
Ebara Corp.		363,200		22,746,162
EDION Corp.		257,700		2,837,621
eGuarantee Inc.		135,000		1,759,546
Eiken Chemical Co. Ltd.		120,100		1,496,931
Eizo Corp.		51,500		1,778,276
Elan Corp.		121,900		874,105
Elecom Co. Ltd.		163,100		1,896,859
Electric Power Development Co. Ltd.		556,200		9,342,780
EM Systems Co. Ltd.		182,900		870,364
en Japan Inc.		120,300		2,223,316
Enplas Corp.^(c)		22,500		1,828,119


68		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Japan (continued)
eRex Co. Ltd.^(c)		120,400	$	669,624
ES-Con Japan Ltd.^(a)		142,600		981,110
Euglena Co. Ltd.^(a)(c)		395,800		1,854,804
Exedy Corp.		120,800		2,317,605
EXEO Group Inc.		361,900		8,082,710
Ezaki Glico Co. Ltd.		190,300		5,567,892
Fancl Corp.		301,400		4,759,596
FCC Co. Ltd.		138,300		1,801,755
Ferrotec Holdings Corp.		181,600		3,502,404
Financial Partners Group Co. Ltd.		242,100		2,776,593
Food & Life Companies Ltd.		428,300		8,570,459
FP Corp.		180,400		3,495,017
FP Partner Inc.		28,800		1,198,018
Freee KK^(a)(c)		163,200		3,072,108
Frontier Real Estate Investment Corp.		1,856		5,486,108
Fuji Co. Ltd./Ehime		119,700		1,613,497
Fuji Corp./Aichi		280,600		4,754,339
Fuji Kyuko Co. Ltd.		81,600		2,411,987
Fuji Media Holdings Inc.		177,600		2,103,981
Fuji Oil Holdings Inc.		167,600		2,684,771
Fuji Seal International Inc.		149,800		1,766,561
Fuji Soft Inc.		206,200		9,038,237
Fujicco Co. Ltd.		39,600		543,527
Fujikura Ltd.		906,600		7,452,714
Fujimi Inc.		200,500		4,017,983
Fujimori Kogyo Co. Ltd.		43,100		1,190,375
Fujio Food Group Inc.^(a)		79,600		792,801
Fujitec Co. Ltd.		212,400		5,419,481
Fujitsu General Ltd.		227,200		3,328,967
Fujiya Co. Ltd.^(c)		39,200		658,442
Fukuda Denshi Co. Ltd.		59,900		3,193,948
Fukui Computer Holdings Inc.		39,600		698,962
Fukuoka Financial Group Inc.		632,900		15,554,956
Fukuoka REIT Corp.		2,434		2,879,033
Fukushima Galilei Co. Ltd.		39,600		1,379,233
Fukuyama Transporting Co. Ltd.		79,900		2,209,806
Fullcast Holdings Co. Ltd.		69,700		841,487
Funai Soken Holdings Inc.		142,560		2,482,197
Furukawa Co. Ltd.		93,100		1,220,340
Furukawa Electric Co. Ltd.		260,300		4,734,971
Fuso Chemical Co. Ltd.		73,000		2,055,678
Future Corp.		164,300		1,950,019
Fuyo General Lease Co. Ltd.		63,900		5,714,337
G-7 Holdings Inc.		78,100		665,800
Genky DrugStores Co. Ltd.		33,200		1,510,526
Geo Holdings Corp.		104,300		1,704,067
Giken Ltd.		59,100		866,845
Global One Real Estate Investment Corp.		3,735		2,782,584
GLOBERIDE Inc.		58,500		823,364
Glory Ltd.		159,100		3,287,236
GMO Financial Gate Inc.		17,500		1,204,473
GMO Financial Holdings Inc.		181,500		927,558
GMO internet group Inc.		252,500		4,550,648
GMO Payment Gateway Inc.		161,200		9,726,529
GNI Group Ltd.^(a)		190,797		3,419,728
Goldcrest Co. Ltd.		66,400		1,058,958
Goldwin Inc.		82,200		5,529,533
Gree Inc.		241,500		960,728
GS Yuasa Corp.		317,200		4,574,900
G-Tekt Corp.		80,100		995,633
GungHo Online Entertainment Inc.^(a)		167,330		2,813,215
Gunma Bank Ltd. (The)		1,224,100		6,036,284


Security	Shares		Value

Japan (continued)
Gunze Ltd.		54,700	$	1,999,343
H.U. Group Holdings Inc.		207,300		3,853,680
H2O Retailing Corp.		356,800		3,820,011
Hachijuni Bank Ltd. (The)		1,379,300		7,517,058
Hakuhodo DY Holdings Inc.		819,800		6,297,065
Hakuto Co. Ltd.		39,600		1,639,401
Halows Co. Ltd.		28,500		845,051
Hamakyorex Co. Ltd.		55,800		1,553,702
Hankyu Hanshin REIT Inc.		2,308		2,285,336
Hanwa Co. Ltd.		120,100		4,392,835
Harmonic Drive Systems Inc.		202,300		4,902,465
Haseko Corp.		921,300		11,980,479
Hazama Ando Corp.		623,000		5,031,155
Heiwa Corp.		203,900		3,029,514
Heiwa Real Estate Co. Ltd.		118,100		3,122,369
Heiwa Real Estate REIT Inc.		3,740		3,475,729
Heiwado Co. Ltd.		108,400		1,618,872
Hiday Hidaka Corp.		97,300		1,961,247
Hino Motors Ltd.^(a)		1,079,500		3,675,258
Hioki E.E. Corp.		39,300		1,743,972
Hirata Corp.		36,500		1,669,719
Hirogin Holdings Inc.		939,800		6,306,338
HIS Co. Ltd.^(a)(c)		214,600		2,607,051
Hisamitsu Pharmaceutical Co. Inc.		200,300		5,709,008
Hitachi Zosen Corp.		603,100		3,721,311
Hogy Medical Co. Ltd.		85,200		2,053,992
Hokkaido Electric Power Co. Inc.		658,400		2,937,493
Hokkoku Financial Holdings Inc.		77,400		2,302,904
Hokuetsu Corp.^(c)		433,200		4,095,649
Hokuhoku Financial Group Inc.		418,600		4,434,670
Hokuriku Electric Power Co.^(a)		636,300		3,111,348
Hokuto Corp.		96,900		1,182,056
Horiba Ltd.		138,800		11,136,487
Hoshino Resorts REIT Inc.		935		3,263,155
Hosiden Corp.		147,200		1,806,968
House Foods Group Inc.		235,100		5,174,894
Hulic REIT Inc.		4,958		5,221,104
Hyakugo Bank Ltd. (The)		773,700		3,000,676
Ichibanya Co. Ltd.		49,400		2,177,354
Ichigo Inc.		969,100		2,583,409
Ichigo Office REIT Investment Corp.		3,479		1,954,957
Idec Corp./Japan		110,500		2,211,272
IDOM Inc.		213,600		1,275,832
IHI Corp.		530,400		10,144,638
Iino Kaiun Kaisha Ltd.		253,200		2,211,265
I’ll Inc.		33,800		750,434
Inaba Denki Sangyo Co. Ltd.		179,400		4,286,547
Inabata & Co. Ltd.		172,100		3,744,803
Inageya Co. Ltd.^(c)		99,000		850,765
Industrial & Infrastructure Fund Investment Corp.		7,893		7,142,712
Infocom Corp.		88,200		1,464,424
Infomart Corp.		733,800		1,969,432
INFRONEER Holdings Inc.		676,328		7,069,974
Insource Co. Ltd.		202,300		1,143,533
Internet Initiative Japan Inc.		422,200		8,187,055
Invincible Investment Corp.		25,772		10,594,891
Iriso Electronics Co. Ltd.		75,200		1,758,573
Isetan Mitsukoshi Holdings Ltd.		1,292,100		15,107,629
Ispace Inc./Japan, NVS^(c)		86,400		630,377
Ito En Ltd.		210,400		6,107,817
Itochu Enex Co. Ltd.		230,700		2,470,808
Itochu-Shokuhin Co. Ltd.		23,200		1,185,293


S C H E D U L E O F I N V E S T M E N T S		69

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Japan (continued)
Itoham Yonekyu Holdings Inc.		100,140	$	2,805,874
Iwatani Corp.		170,000		7,596,702
Iyogin Holdings Inc., NVS		1,020,400		6,940,689
Izumi Co. Ltd.		122,000		2,871,975
J Front Retailing Co. Ltd.		937,100		8,678,797
J Trust Co. Ltd.^(c)		267,800		866,569
JAC Recruitment Co. Ltd.		308,800		1,410,840
Jaccs Co. Ltd.		79,700		3,053,059
JAFCO Group Co. Ltd.		198,200		2,350,789
Japan Airport Terminal Co. Ltd.		231,800		9,205,454
Japan Aviation Electronics Industry Ltd.		180,700		3,106,701
Japan Display Inc.^(a)(c)		2,469,700		333,507
Japan Elevator Service Holdings Co. Ltd.		256,500		3,876,097
Japan Excellent Inc.		4,550		3,761,902
Japan Hotel REIT Investment Corp.		17,744		9,118,613
Japan Lifeline Co. Ltd.		216,300		1,930,082
Japan Logistics Fund Inc.		3,416		6,316,258
Japan Material Co. Ltd.		241,800		4,085,886
Japan Petroleum Exploration Co. Ltd.		124,000		5,044,056
Japan Prime Realty Investment Corp.		3,259		7,803,073
Japan Pulp & Paper Co. Ltd.		39,600		1,355,627
Japan Securities Finance Co. Ltd.		314,600		3,334,080
Japan Steel Works Ltd. (The)		230,700		3,796,858
Japan Wool Textile Co. Ltd. (The)		191,100		1,927,606
JCR Pharmaceuticals Co. Ltd.		263,600		1,942,262
JCU Corp.		70,500		1,779,173
JDC Corp.		162,300		601,963
Jeol Ltd.		167,400		7,652,501
JGC Holdings Corp.		843,900		9,884,990
JINS Holdings Inc.		49,500		1,395,628
JMDC Inc.^(c)		84,900		2,246,662
J-Oil Mills Inc.		40,600		562,744
Joshin Denki Co. Ltd.		66,800		1,114,810
Joyful Honda Co. Ltd.		193,000		2,559,756
JTEKT Corp.		786,300		7,194,518
JTOWER Inc.^(a)(c)		39,700		1,223,037
Juroku Financial Group Inc.		120,500		3,378,393
Justsystems Corp.		131,000		2,737,102
JVCKenwood Corp.		595,300		2,895,013
Kadokawa Corp.		327,434		6,927,655
Kaga Electronics Co. Ltd.		65,000		3,008,850
Kagome Co. Ltd.		290,200		7,144,752
Kakaku.com Inc.		504,700		5,741,115
Kaken Pharmaceutical Co. Ltd.		116,100		2,741,900
Kameda Seika Co. Ltd.		48,100		1,366,067
Kamigumi Co. Ltd.		366,500		8,431,616
Kanamoto Co. Ltd.		110,600		2,112,566
Kandenko Co. Ltd.		432,300		4,445,789
Kaneka Corp.		180,500		4,389,295
Kanematsu Corp.		291,300		4,516,405
Kansai Paint Co. Ltd.		681,500		11,394,553
Kanto Denka Kogyo Co. Ltd.		179,000		1,071,310
Kappa Create Co. Ltd.^(a)(c)		112,900		1,350,401
Kasumigaseki Capital Co. Ltd.^(c)		23,500		1,991,589
Katakura Industries Co. Ltd.		55,100		634,624
Katitas Co. Ltd.		200,100		2,487,761
Kato Sangyo Co. Ltd.		89,200		2,908,591
Kawasaki Heavy Industries Ltd.		580,800		13,149,238
KeePer Technical Laboratory Co. Ltd.		54,000		2,383,080
Keihan Holdings Co. Ltd.		390,100		9,514,191
Keihanshin Building Co. Ltd.		108,100		1,092,366
Keikyu Corp.		835,700		7,299,353


Security	Shares		Value

Japan (continued)
Keio Corp.		393,600	$	11,516,860
Keiyo Bank Ltd. (The)		368,500		1,803,900
Kenedix Residential Next Investment Corp.^(a)		1		—
Kenedix Retail REIT Corp.^(a)		1		—
Kewpie Corp.		382,300		6,803,565
KFC Holdings Japan Ltd.		48,500		1,112,685
KH Neochem Co. Ltd.		120,100		1,871,597
Kinden Corp.		472,700		7,877,330
Kintetsu Department Store Co. Ltd.		40,300		696,354
Kisoji Co. Ltd.		109,700		1,989,461
Kissei Pharmaceutical Co. Ltd.		110,700		2,363,772
Ki-Star Real Estate Co. Ltd.		37,400		883,285
Kitz Corp.		221,000		1,806,878
Kiyo Bank Ltd. (The)		219,900		2,478,460
Koa Corp.		120,000		1,227,863
Kobayashi Pharmaceutical Co. Ltd.		194,400		8,773,377
Kobe Steel Ltd.		1,366,200		18,864,328
Kohnan Shoji Co. Ltd.^(c)		86,800		2,305,806
Kokuyo Co. Ltd.		313,300		5,045,538
KOMEDA Holdings Co. Ltd.		180,000		3,450,107
Komeri Co. Ltd.		119,700		2,682,071
Konica Minolta Inc.^(a)		1,731,300		4,751,051
Konishi Co. Ltd.		202,800		1,942,143
Konoike Transport Co. Ltd.		87,000		1,157,393
Kosaido Holdings Co. Ltd.		312,500		1,585,613
Koshidaka Holdings Co. Ltd.		220,400		1,404,075
Kotobuki Spirits Co. Ltd.		349,500		4,702,393
Krosaki Harima Corp.		17,300		1,444,661
K’s Holdings Corp.		536,140		4,872,535
Kumagai Gumi Co. Ltd.		120,000		3,123,124
Kumiai Chemical Industry Co. Ltd.		282,100		1,617,648
Kura Sushi Inc.		78,700		2,108,873
Kuraray Co. Ltd.		1,083,800		11,370,975
Kureha Corp.		157,400		3,012,984
Kurita Water Industries Ltd.		400,300		14,619,356
Kusuri no Aoki Holdings Co. Ltd.		174,800		3,773,887
KYB Corp.		64,200		2,226,040
Kyoei Steel Ltd.		85,500		1,228,953
Kyokuto Kaihatsu Kogyo Co. Ltd.		125,500		1,717,787
Kyorin Pharmaceutical Co. Ltd.		140,800		1,701,105
Kyoritsu Maintenance Co. Ltd.		120,100		4,935,057
Kyoto Financial Group Inc.		886,400		14,731,489
Kyudenko Corp.		160,900		6,120,319
Kyushu Electric Power Co. Inc.^(a)		1,551,400		11,618,614
Kyushu Financial Group Inc.		1,223,400		7,785,225
Kyushu Railway Co.		515,500		11,330,686
LaSalle Logiport REIT		7,173		7,263,734
Lawson Inc.		176,700		10,113,971
Leopalace21 Corp.^(a)		672,100		1,880,020
Life Corp.		100,600		2,554,701
LIFENET INSURANCE Co.^(a)		217,500		1,843,998
Link And Motivation Inc.		228,900		858,711
Lintec Corp.		147,200		2,787,791
Lion Corp.		895,700		7,984,374
LITALICO Inc.		83,100		1,210,801
Lixil Corp.		1,099,300		14,689,912
M&A Capital Partners Co. Ltd.		53,600		825,501
M&A Research Institute Holdings Inc., NVS^(a)		95,800		3,409,675
Mabuchi Motor Co. Ltd.		364,400		6,315,895
Macnica Holdings Inc.		175,350		9,278,798
Maeda Kosen Co. Ltd.		65,700		1,432,238
Makino Milling Machine Co. Ltd.		86,400		3,499,612


70		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Japan (continued)
Management Solutions Co. Ltd.		39,600	$	801,447
Mandom Corp.		140,900		1,226,584
Mani Inc.		290,300		4,032,913
Maruha Nichiro Corp.		140,400		2,777,972
Marui Group Co. Ltd.		679,000		11,227,375
Maruichi Steel Tube Ltd.		225,500		5,745,637
MARUKA FURUSATO Corp.		67,000		1,112,567
Maruwa Co. Ltd./Aichi		34,700		6,942,977
Maruzen Showa Unyu Co. Ltd.		39,700		1,096,068
Matsuda Sangyo Co. Ltd.		58,100		1,081,308
Matsui Securities Co. Ltd.^(c)		467,400		2,625,865
Matsuyafoods Holdings Co. Ltd.		38,400		1,544,534
Max Co. Ltd.		94,100		2,091,381
Maxell Ltd.		148,900		1,637,685
Maxvalu Tokai Co. Ltd.		39,600		873,144
MCJ Co. Ltd.		231,700		1,942,897
Mebuki Financial Group Inc.		3,752,600		11,232,268
Medipal Holdings Corp.		738,400		11,785,588
Medley Inc.^(a)		81,900		2,567,887
Megachips Corp.		50,000		1,614,425
Megmilk Snow Brand Co. Ltd.		181,100		2,840,245
Meidensha Corp.		120,100		2,152,832
Meiko Electronics Co. Ltd.		76,900		2,094,582
MEITEC Group Holdings Inc.		266,100		5,264,344
Melco Holdings Inc.		24,000		534,063
Menicon Co. Ltd.		232,700		3,379,280
Mercari Inc.^(a)(c)		439,100		7,260,011
METAWATER Co. Ltd.		99,400		1,448,601
Micronics Japan Co. Ltd.		112,200		3,331,589
Mie Kotsu Group Holdings Inc.		211,600		900,918
Milbon Co. Ltd.		104,400		2,494,910
Mimasu Semiconductor Industry Co. Ltd.		69,300		1,493,583
Mirai Corp.		6,587		2,014,145
MIRAIT ONE corp.		347,400		4,589,828
Mitani Sekisan Co. Ltd.		39,400		1,353,735
Mitsubishi Estate Logistics REIT Investment Corp.		1,936		4,850,473
Mitsubishi Gas Chemical Co. Inc.		600,600		9,808,324
Mitsubishi Logisnext Co. Ltd.		139,800		1,447,913
Mitsubishi Logistics Corp.		203,700		6,292,116
Mitsubishi Materials Corp.		482,800		8,838,856
Mitsubishi Motors Corp.		2,636,800		8,308,730
Mitsubishi Pencil Co. Ltd.		129,500		1,760,951
Mitsubishi Research Institute Inc.		39,600		1,327,381
Mitsubishi Shokuhin Co. Ltd.		66,100		2,247,142
Mitsuboshi Belting Ltd.		85,800		2,862,095
Mitsui DM Sugar Holdings Co. Ltd.		50,900		1,169,573
Mitsui Fudosan Logistics Park Inc.		2,242		6,721,359
Mitsui High-Tec Inc.		75,700		3,494,050
Mitsui Mining & Smelting Co. Ltd.		208,300		6,439,653
Mitsui-Soko Holdings Co. Ltd.		80,300		2,682,078
Mitsuuroko Group Holdings Co. Ltd.		132,200		1,379,333
Miura Co. Ltd.		334,700		6,116,171
Mixi Inc.		152,500		2,615,825
Mizuho Leasing Co. Ltd.		106,300		3,852,393
Mizuno Corp.		75,800		2,261,316
Mochida Pharmaceutical Co. Ltd.		79,300		1,792,872
Modec Inc.^(a)		87,000		1,358,637
Monex Group Inc.		686,970		3,575,158
Money Forward Inc.^(a)(c)		167,900		6,553,473
Monogatari Corp. (The)		120,000		4,231,251
Mori Hills REIT Investment Corp.		5,977		5,562,545
Mori Trust REIT Inc.		9,562		4,855,836


Security	Shares		Value

Japan (continued)
Morinaga & Co. Ltd./Japan		269,400	$	5,141,727
Morinaga Milk Industry Co. Ltd.		272,900		5,588,584
Morita Holdings Corp.		105,500		1,139,313
MOS Food Services Inc.		101,800		2,367,679
Musashi Seimitsu Industry Co. Ltd.		175,100		1,987,446
Musashino Bank Ltd. (The)		96,200		1,812,381
Nabtesco Corp.		424,100		8,151,588
Nachi-Fujikoshi Corp.		52,500		1,224,345
Nafco Co. Ltd.		71,800		1,088,193
Nagaileben Co. Ltd.^(c)		88,600		1,405,866
Nagase & Co. Ltd.		350,100		5,724,370
Nagawa Co. Ltd.^(c)		38,000		1,835,408
Nagoya Railroad Co. Ltd.		715,600		11,033,058
Nakanishi Inc.		252,900		4,138,923
Nankai Electric Railway Co. Ltd.		386,400		7,534,787
Nanto Bank Ltd. (The)		103,100		1,864,887
NEC Networks & System Integration Corp.		254,800		4,114,822
NET One Systems Co. Ltd.		315,200		5,124,868
Nextage Co. Ltd.^(c)		170,200		2,564,349
NGK Insulators Ltd.		895,200		11,183,494
NH Foods Ltd.		317,900		10,886,860
NHK Spring Co. Ltd.		749,700		6,189,274
Nichias Corp.		201,000		4,698,266
Nichicon Corp.		165,500		1,446,442
Nichiden Corp.		40,700		759,029
Nichiha Corp.		94,800		1,904,470
Nichirei Corp.		412,300		9,958,151
Nifco Inc./Japan		289,200		7,504,958
Nihon Kohden Corp.		303,100		9,237,547
Nihon M&A Center Holdings Inc.		1,171,700		7,042,948
Nihon Parkerizing Co. Ltd.		363,100		2,884,077
Nikkiso Co. Ltd.		190,100		1,395,574
Nikkon Holdings Co. Ltd.		202,300		4,345,937
Nikon Corp.		1,138,200		11,615,938
Nippn Corp., New		176,400		2,708,099
Nippon Accommodations Fund Inc.		1,973		8,213,858
Nippon Carbon Co. Ltd.		40,700		1,236,706
Nippon Ceramic Co. Ltd.		82,000		1,484,970
Nippon Densetsu Kogyo Co. Ltd.		138,900		1,926,663
Nippon Electric Glass Co. Ltd.		313,100		6,959,871
Nippon Gas Co. Ltd.		397,100		6,151,337
Nippon Kanzai Holdings Co. Ltd.		64,400		1,149,844
Nippon Kayaku Co. Ltd.		490,700		4,380,628
Nippon Light Metal Holdings Co. Ltd.		202,290		2,492,590
Nippon Paper Industries Co. Ltd.^(a)		367,100		3,402,722
Nippon Parking Development Co. Ltd.		911,400		1,134,687
Nippon Pillar Packing Co. Ltd.		63,700		2,094,539
NIPPON REIT Investment Corp.		1,703		3,943,382
Nippon Road Co. Ltd. (The)		78,500		1,131,681
Nippon Seiki Co. Ltd.		167,500		1,552,567
Nippon Shinyaku Co. Ltd.		202,300		7,146,847
Nippon Shokubai Co. Ltd.		108,900		4,096,828
Nippon Signal Co. Ltd.		186,800		1,191,837
Nippon Soda Co. Ltd.		83,000		3,203,946
Nippon Television Holdings Inc.		197,200		2,300,670
Nipro Corp.		545,600		4,393,790
Nishimatsu Construction Co. Ltd.		127,600		3,507,596
Nishimatsuya Chain Co. Ltd.		140,600		2,030,640
Nishi-Nippon Financial Holdings Inc.		449,500		5,175,602
Nishi-Nippon Railroad Co. Ltd.		227,800		3,786,488
Nishio Holdings Co. Ltd.		75,300		2,062,605
Nissan Shatai Co. Ltd.		276,400		1,823,755


S C H E D U L E O F I N V E S T M E N T S		71

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Japan (continued)
Nissha Co. Ltd.		141,900	$	1,574,132
Nisshin Oillio Group Ltd. (The)		97,600		2,981,449
Nisshin Seifun Group Inc.		757,400		10,565,112
Nisshinbo Holdings Inc.		517,800		4,273,603
Nissui Corp.		1,068,000		5,835,491
Niterra Co. Ltd.		591,700		15,933,655
Nitta Corp.		64,900		1,679,502
Nittetsu Mining Co. Ltd.		38,800		1,382,874
Nitto Boseki Co. Ltd.		88,600		3,025,473
Nitto Kogyo Corp.		96,700		2,631,471
Noevir Holdings Co. Ltd.		55,500		1,973,065
NOF Corp.		256,900		11,602,561
Nohmi Bosai Ltd.		86,900		1,312,455
Nojima Corp.		231,900		2,922,650
NOK Corp.		295,500		3,914,037
Nomura Co. Ltd.		296,000		1,749,514
Noritake Co. Ltd./Nagoya Japan		39,000		2,074,695
Noritsu Koki Co. Ltd.		66,300		1,497,685
Noritz Corp.		95,700		1,008,098
North Pacific Bank Ltd.		989,400		2,523,048
NS Solutions Corp.		120,000		4,002,348
NS United Kaiun Kaisha Ltd.		40,700		1,431,407
NSD Co. Ltd.		266,980		5,010,132
NSK Ltd.		1,346,400		7,340,061
NTN Corp.		1,493,700		2,731,618
NTT UD REIT Investment Corp.		5,366		4,556,626
Obara Group Inc.		39,600		1,077,224
OBIC Business Consultants Co. Ltd.		121,200		5,861,263
Ogaki Kyoritsu Bank Ltd. (The)		134,000		1,793,989
Ohsho Food Service Corp.		49,000		2,709,108
Oiles Corp.		78,100		1,129,789
Oisix ra daichi Inc.^(a)(c)		116,000		1,097,225
Okamoto Industries Inc.		36,100		1,223,213
Okamura Corp.		203,500		3,049,886
Okasan Securities Group Inc.		550,300		2,693,295
Oki Electric Industry Co. Ltd.		307,300		2,159,172
Okinawa Cellular Telephone Co.		88,900		2,166,275
Okinawa Electric Power Co. Inc. (The)		174,977		1,386,709
Okinawa Financial Group Inc.		78,600		1,350,800
OKUMA Corp.		89,900		4,044,970
Okumura Corp.		117,200		4,098,410
One REIT Inc.		854		1,570,494
Onward Holdings Co. Ltd.		452,200		1,660,055
Open Up Group Inc.		208,431		3,228,501
Optex Group Co. Ltd.		125,200		1,554,866
Optorun Co. Ltd.		120,000		1,386,607
Organo Corp.		100,900		4,167,484
Orient Corp.		195,260		1,473,425
Orix JREIT Inc.		10,135		11,723,248
Osaka Organic Chemical Industry Ltd.		49,900		992,558
Osaka Soda Co. Ltd.		56,900		3,994,406
OSAKA Titanium Technologies Co. Ltd.^(c)		117,800		2,228,343
OSG Corp.		318,300		4,331,526
Outsourcing Inc.^(a)		433,500		5,061,292
Pacific Industrial Co. Ltd.		163,800		1,590,025
PAL GROUP Holdings Co. Ltd.		177,600		2,840,226
PALTAC Corp.		111,600		3,397,709
Paramount Bed Holdings Co. Ltd.		142,000		2,564,678
Park24 Co. Ltd.^(a)		487,700		6,372,668
Pasona Group Inc.		75,300		1,373,177
Penta-Ocean Construction Co. Ltd.		1,036,000		5,550,856
PeptiDream Inc.^(a)(c)		379,200		3,323,117


Security	Shares		Value

Japan (continued)
Persol Holdings Co. Ltd.		7,138,600	$	11,348,312
Pharma Foods International Co. Ltd.^(c)		76,000		517,355
PHC Holdings Corp.		102,500		1,060,611
Pigeon Corp.		479,800		5,243,588
Pilot Corp.		113,700		3,175,165
Piolax Inc.		121,800		2,063,037
PKSHA Technology Inc.^(a)(c)		74,000		1,936,034
Plus Alpha Consulting Co. Ltd.		95,400		1,662,677
Pola Orbis Holdings Inc.		339,900		3,516,264
Pressance Corp.		93,700		1,059,829
Prestige International Inc.		354,500		1,455,634
Prima Meat Packers Ltd.		86,800		1,420,190
Raito Kogyo Co. Ltd.		152,400		2,130,413
Raiznext Corp.		94,300		1,003,476
Raksul Inc.^(a)		195,800		1,519,428
Rakus Co. Ltd.		313,800		5,157,652
Rakuten Bank Ltd., NVS^(a)(c)		368,500		5,744,523
Relo Group Inc.		400,300		4,018,103
Rengo Co. Ltd.		712,500		4,620,604
RENOVA Inc.^(a)		150,600		1,293,886
Resonac Holdings Corp.		673,400		13,428,596
Resorttrust Inc.		284,100		4,938,674
Restar Holdings Corp.		77,800		1,612,361
Retail Partners Co. Ltd.		92,100		1,090,179
Ricoh Leasing Co. Ltd.		53,700		1,843,353
Riken Keiki Co. Ltd.		49,800		2,460,451
Riken Vitamin Co. Ltd.		87,900		1,376,503
Ringer Hut Co. Ltd.^(c)		95,800		1,583,748
Rinnai Corp.		407,400		9,229,982
Riso Kagaku Corp.		75,400		1,523,770
Riso Kyoiku Co. Ltd.		437,800		722,464
Rohto Pharmaceutical Co. Ltd.		735,800		15,055,664
Roland Corp.		53,900		1,790,765
Rorze Corp.		40,600		4,509,341
Round One Corp.		750,600		3,324,432
Royal Holdings Co. Ltd.		119,200		2,097,835
RS Technologies Co. Ltd.		54,700		1,061,876
Ryobi Ltd.		81,700		1,506,220
Ryohin Keikaku Co. Ltd.		968,100		15,053,128
Ryosan Co. Ltd.		52,000		1,713,380
Ryoyo Electro Corp.		71,000		1,811,845
S Foods Inc.		67,500		1,517,864
Saibu Gas Holdings Co. Ltd.		88,000		1,153,853
Saizeriya Co. Ltd.		112,200		3,851,746
Sakai Moving Service Co. Ltd.		80,500		1,530,102
Sakata INX Corp.		173,700		1,675,903
Sakata Seed Corp.		110,100		2,741,773
SAMTY Co. Ltd.		100,800		1,717,492
Samty Residential Investment Corp.		1,578		1,149,876
San-A Co. Ltd.		77,600		2,396,733
San-Ai Obbli Co. Ltd.		191,200		2,155,880
SanBio Co. Ltd.^(a)(c)		206,800		791,179
Sangetsu Corp.		171,400		3,775,317
San-In Godo Bank Ltd. (The)		497,400		3,507,697
Sanken Electric Co. Ltd.		87,400		4,015,433
Sanki Engineering Co. Ltd.		144,700		1,856,365
Sankyo Co. Ltd.		152,700		9,340,134
Sankyu Inc.		192,700		7,203,562
Sanrio Co. Ltd.		205,000		8,560,223
Sansan Inc.^(a)		288,100		2,681,986
Santen Pharmaceutical Co. Ltd.		1,290,400		13,036,036
Sanwa Holdings Corp.		707,700		10,816,612


72		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Japan (continued)
Sanyo Chemical Industries Ltd.		40,600	$	1,186,625
Sanyo Denki Co. Ltd.		36,000		1,496,868
Sanyo Special Steel Co. Ltd.		74,500		1,279,661
Sapporo Holdings Ltd.		242,200		11,199,041
Sato Holdings Corp.		94,900		1,395,333
Sawai Group Holdings Co. Ltd.		148,600		5,624,511
SB Technology Corp.		40,800		687,056
SBI Sumishin Net Bank Ltd., NVS^(c)		195,200		2,249,713
SBS Holdings Inc.		60,000		1,015,616
SCREEN Holdings Co. Ltd.		317,800		31,163,230
Sega Sammy Holdings Inc.		594,300		8,746,670
Seibu Holdings Inc.		925,300		13,076,729
Seiko Group Corp.		106,900		1,907,106
Seino Holdings Co. Ltd.		470,700		6,874,025
Seiren Co. Ltd.		161,100		2,703,840
Sekisui House REIT Inc.		15,780		8,393,200
Sekisui Jushi Corp.		105,100		1,810,229
Senko Group Holdings Co. Ltd.		423,000		3,307,185
Senshu Ikeda Holdings Inc.		865,900		2,006,097
Septeni Holdings Co. Ltd.		332,800		1,114,311
Seria Co. Ltd.		178,300		3,267,382
Seven Bank Ltd.		2,252,000		4,714,163
Shibaura Machine Co. Ltd.		88,200		2,138,403
Shibaura Mechatronics Corp.^(c)		48,100		2,278,460
Shibuya Corp.		65,100		1,106,391
SHIFT Inc.^(a)(c)		47,700		8,599,037
Shiga Bank Ltd. (The)		129,600		3,222,392
Shikoku Chemicals Corp.		125,400		1,550,590
Shikoku Electric Power Co. Inc.		546,500		3,864,187
Shima Seiki Manufacturing Ltd.		99,000		1,006,788
Shimamura Co. Ltd.		85,800		9,412,988
Shin Nippon Biomedical Laboratories Ltd.^(c)		82,900		960,853
Shin-Etsu Polymer Co. Ltd.		179,000		1,969,030
Shinko Electric Industries Co. Ltd.		261,500		9,668,213
Shinmaywa Industries Ltd.		200,400		1,663,526
Ship Healthcare Holdings Inc.		290,100		4,402,806
Shizuoka Gas Co. Ltd.		137,000		935,951
SHO-BOND Holdings Co. Ltd.		153,200		6,823,608
Shochiku Co. Ltd.		38,800		2,663,048
Shoei Co. Ltd.		185,200		2,475,079
Shoei Foods Corp.		40,600		1,232,881
Showa Sangyo Co. Ltd.		69,800		1,599,659
Siix Corp.		119,300		1,261,520
Simplex Holdings Inc.		115,300		2,101,513
SKY Perfect JSAT Holdings Inc.		566,800		2,982,698
Skylark Holdings Co. Ltd.		877,400		14,314,040
SMS Co. Ltd.		267,500		4,831,081
Snow Peak Inc.^(c)		106,700		644,041
Socionext Inc.		685,000		15,698,884
Sohgo Security Services Co. Ltd.		1,458,500		7,961,934
Sojitz Corp.		865,820		20,434,572
Solasto Corp.		205,500		802,921
Sosei Group Corp.^(a)		284,100		2,757,718
SOSiLA Logistics REIT Inc.		2,706		2,197,564
Sotetsu Holdings Inc.		300,300		5,503,935
SPARX Group Co. Ltd.		91,820		1,130,760
SRE Holdings Corp.^(a)(c)		40,700		918,514
Stanley Electric Co. Ltd.		490,000		9,359,246
Star Asia Investment Corp.		8,644		3,389,335
Star Micronics Co. Ltd.		139,200		1,661,237
Starts Corp. Inc.		118,600		2,432,937
Starts Proceed Investment Corp.		974		1,344,603


Security	Shares		Value

Japan (continued)
Strike Co. Ltd.		39,700	$	1,280,884
Sugi Holdings Co. Ltd.		130,600		6,240,021
Sumitomo Bakelite Co. Ltd.		133,100		6,614,740
Sumitomo Densetsu Co. Ltd.		76,400		1,579,187
Sumitomo Forestry Co. Ltd.		610,300		17,939,908
Sumitomo Heavy Industries Ltd.		430,000		11,156,130
Sumitomo Mitsui Construction Co. Ltd.		447,580		1,255,366
Sumitomo Osaka Cement Co. Ltd.		124,600		3,138,957
Sumitomo Pharma Co. Ltd.		671,900		1,972,343
Sumitomo Riko Co. Ltd.		130,900		1,124,951
Sumitomo Rubber Industries Ltd.		656,500		7,605,207
Sumitomo Warehouse Co. Ltd. (The)		185,000		3,327,081
Sun Frontier Fudousan Co. Ltd.		122,200		1,461,421
Sundrug Co. Ltd.		280,200		8,450,904
SUNWELS Co. Ltd.^(c)		41,300		644,783
Suruga Bank Ltd.		617,400		3,598,035
Suzuken Co. Ltd.		237,300		7,366,024
Systena Corp.		1,075,600		2,174,095
T Hasegawa Co. Ltd.		120,000		2,692,865
Tadano Ltd.		360,000		2,930,574
Taihei Dengyo Kaisha Ltd.		46,600		1,407,485
Taiheiyo Cement Corp.		438,400		9,023,280
Taikisha Ltd.		89,000		2,653,698
Taisho Pharmaceutical Holdings Co. Ltd.		64,600		3,759,299
Taiyo Holdings Co. Ltd.		154,800		3,410,832
Taiyo Yuden Co. Ltd.		449,200		10,850,759
Takamatsu Construction Group Co. Ltd.		42,000		843,433
Takara Bio Inc.		183,100		1,556,498
Takara Holdings Inc.		526,200		4,451,878
Takara Leben Real Estate Investment Corp.		2,355		1,675,083
Takara Standard Co. Ltd.		158,600		1,894,952
Takasago International Corp.		28,900		690,187
Takasago Thermal Engineering Co. Ltd.		166,000		3,835,632
Takashimaya Co. Ltd.		548,400		7,639,894
Takeuchi Manufacturing Co. Ltd.		127,200		4,348,681
Takuma Co. Ltd.		231,600		2,725,073
Tama Home Co. Ltd.		52,300		1,443,670
Tamron Co. Ltd.		69,500		2,633,499
TBS Holdings Inc.		123,300		2,859,257
TechMatrix Corp.		140,200		1,497,649
TechnoPro Holdings Inc.		417,000		9,613,857
Teijin Ltd.		683,200		6,285,018
Tenma Corp.		39,600		609,704
T-Gaia Corp.		64,200		868,791
THK Co. Ltd.		441,200		8,482,788
TKC Corp.		100,600		2,605,824
TKP Corp.^(a)		77,400		877,920
Toa Corp./Tokyo		51,500		1,361,322
Toagosei Co. Ltd.		360,100		3,446,778
Tocalo Co. Ltd.		200,400		2,131,681
Toda Corp.		864,500		5,450,691
Toei Animation Co. Ltd.		32,400		4,335,000
Toei Co. Ltd.		24,900		3,494,546
Toenec Corp.		13,500		442,872
Toho Bank Ltd. (The)		669,900		1,420,679
Toho Gas Co. Ltd.		281,600		5,657,314
Toho Holdings Co. Ltd.		199,700		4,325,200
Toho Titanium Co. Ltd.^(c)		120,400		1,601,499
Tohoku Electric Power Co. Inc.		1,728,500		11,539,120
Tokai Carbon Co. Ltd.		766,900		5,393,506
Tokai Corp./Gifu		40,700		581,265
TOKAI Holdings Corp.		376,200		2,536,765


S C H E D U L E O F I N V E S T M E N T S		73

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Japan (continued)
Tokai Rika Co. Ltd.		200,400	$	3,170,536
Tokai Tokyo Financial Holdings Inc.		694,200		2,677,900
Token Corp.		24,500		1,571,121
Tokushu Tokai Paper Co. Ltd.		36,000		960,799
Tokuyama Corp.		227,100		3,640,199
Tokyo Century Corp.		557,600		6,195,706
Tokyo Electron Device Ltd.		70,600		2,797,246
Tokyo Kiraboshi Financial Group Inc.		88,200		2,579,969
Tokyo Ohka Kogyo Co. Ltd.		365,300		8,343,632
Tokyo Seimitsu Co. Ltd.		151,100		9,787,304
Tokyo Steel Manufacturing Co. Ltd.		237,700		2,870,965
Tokyo Tatemono Co. Ltd.		721,000		11,111,997
Tokyotokeiba Co. Ltd.^(c)		56,900		1,782,049
Tokyu Construction Co. Ltd.		281,540		1,567,171
Tokyu Fudosan Holdings Corp.		2,384,000		15,943,168
Tokyu REIT Inc.		3,332		3,885,425
TOMONY Holdings Inc.		577,400		1,589,932
Tomy Co. Ltd.		304,400		4,994,174
Topcon Corp.		375,200		4,310,537
Topre Corp.		126,000		1,833,965
Toridoll Holdings Corp.		169,900		5,201,518
Torii Pharmaceutical Co. Ltd.		46,100		1,174,777
Tosei Corp.		113,600		1,640,435
Toshiba TEC Corp.		107,900		2,238,450
Totetsu Kogyo Co. Ltd.		88,500		1,817,173
Towa Corp.		76,700		3,956,958
Towa Pharmaceutical Co. Ltd.		101,100		1,769,188
Toyo Construction Co. Ltd.		191,800		1,689,936
Toyo Gosei Co. Ltd.^(c)		24,000		1,404,287
Toyo Seikan Group Holdings Ltd.		491,800		7,811,990
Toyo Suisan Kaisha Ltd.		350,300		18,240,636
Toyo Tanso Co. Ltd.		49,600		1,673,780
Toyo Tire Corp.		438,000		7,252,538
Toyobo Co. Ltd.		307,100		2,304,919
Toyoda Gosei Co. Ltd.		252,900		4,883,105
Toyota Boshoku Corp.		320,700		5,284,278
Trancom Co. Ltd.		29,700		1,407,500
Transcosmos Inc.		91,600		1,912,718
TRE Holdings Corp.		167,200		1,418,420
Tri Chemical Laboratories Inc.		102,800		2,535,112
Trusco Nakayama Corp.		191,400		3,269,950
TS Tech Co. Ltd.		330,800		4,190,226
Tsubakimoto Chain Co.		103,700		2,999,051
Tsuburaya Fields Holdings Inc.		144,300		1,777,855
Tsugami Corp.		142,700		1,152,395
Tsumura & Co.		221,000		3,998,376
Tsuruha Holdings Inc.		151,500		11,988,896
Tsurumi Manufacturing Co. Ltd.^(c)		57,800		1,425,171
TV Asahi Holdings Corp.		89,600		1,067,982
UACJ Corp.		123,594		3,413,824
UBE Corp.		348,300		5,790,666
Ulvac Inc.		179,800		8,800,029
Union Tool Co.		34,800		801,463
United Arrows Ltd.		87,400		1,146,171
United Super Markets Holdings Inc.		200,400		1,377,998
United Urban Investment Corp.		10,700		10,834,034
Universal Entertainment Corp.		91,500		1,323,355
Usen-Next Holdings Co. Ltd.		69,100		2,005,623
Ushio Inc.		355,500		4,980,288
UT Group Co. Ltd.^(a)		120,100		1,924,238
Valor Holdings Co. Ltd.		134,500		2,297,896
ValueCommerce Co. Ltd.		58,400		498,078


Security	Shares		Value

Japan (continued)
Vector Inc.		122,900	$	986,940
Vision Inc./Tokyo Japan^(a)(c)		149,000		1,182,753
Visional Inc.^(a)		83,200		5,207,216
VT Holdings Co. Ltd.		284,000		1,023,663
Wacoal Holdings Corp.		160,400		3,742,005
Wacom Co. Ltd.		539,300		2,485,270
Wakita & Co. Ltd.		113,100		1,225,559
WDB Holdings Co. Ltd.		31,100		489,771
WealthNavi Inc.^(a)(c)		141,500		1,628,493
Weathernews Inc.		26,600		964,817
Welcia Holdings Co. Ltd.		360,900		6,087,962
West Holdings Corp.		91,130		2,096,100
WingArc1st Inc.		74,400		1,415,369
Workman Co. Ltd.^(c)		77,700		2,221,218
W-Scope Corp.^(a)(c)		200,700		1,036,830
YAMABIKO Corp.		120,000		1,344,687
Yamada Holdings Co. Ltd.		2,219,800		6,780,553
Yamaguchi Financial Group Inc.		700,100		6,654,496
YA-MAN Ltd.^(c)		125,700		863,560
Yamato Kogyo Co. Ltd.		147,100		8,142,542
Yamazaki Baking Co. Ltd.		425,300		10,084,855
Yamazen Corp.		189,800		1,623,125
Yaoko Co. Ltd.		67,600		3,900,374
Yellow Hat Ltd.		120,100		1,491,033
Yodogawa Steel Works Ltd.		79,000		2,080,606
Yokogawa Bridge Holdings Corp.		120,000		2,322,388
Yokohama Rubber Co. Ltd. (The)		451,400		10,683,590
Yokorei Co. Ltd.		171,400		1,303,889
Yonex Co. Ltd.		228,500		1,856,788
Yoshinoya Holdings Co. Ltd.		237,700		5,300,789
Yuasa Trading Co. Ltd.		58,600		1,952,501
Yurtec Corp.		91,900		725,879
Zenkoku Hosho Co. Ltd.		201,700		7,505,946
Zenrin Co. Ltd.		168,600		1,013,979
Zeon Corp.		528,900		4,798,404
ZERIA Pharmaceutical Co. Ltd.		105,400		1,459,729
ZIGExN Co. Ltd.		206,300		737,696
Zojirushi Corp.		143,700		1,390,744
Zuken Inc.		62,000		1,694,619


				3,338,174,836

Netherlands — 1.8%
Aalberts NV		385,046		15,312,628
Alfen NV^(a)(c)(d)		84,151		5,088,908
Allfunds Group PLC		1,345,648		9,647,211
AMG Critical Materials NV		121,781		2,584,411
Arcadis NV		279,884		15,366,036
Ariston Holding NV		243,725		1,599,588
Basic-Fit NV^(a)(c)(d)		202,637		5,867,280
Brunel International NV		96,341		1,071,746
Cementir Holding NV		186,415		1,999,189
Corbion NV		229,016		4,434,747
Eurocommercial Properties NV		166,464		3,729,458
Fastned BV^(a)(c)		29,718		881,122
Flow Traders Ltd., NVS		123,693		2,221,679
Fugro NV^(a)		435,411		8,038,922
InPost SA^(a)		772,398		11,601,280
Iveco Group NV^(a)		677,094		7,225,511
Just Eat Takeaway.com NV^(a)(c)(d)		720,271		10,875,636
Koninklijke BAM Groep NV		1,059,758		2,925,764
Koninklijke Vopak NV		264,377		8,258,781
MFE-MediaForEurope NV, NVS^(c)		312,243		1,128,065
MFE-MediaForEurope NV, Class A^(c)		608,879		1,554,233


74		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Netherlands (continued)
NSI NV		73,553	$	1,573,877
Pharming Group NV^(a)		2,502,889		3,155,348
PostNL NV		1,206,649		1,758,329
SBM Offshore NV		549,507		6,995,701
Signify NV^(d)		493,869		14,808,487
Sligro Food Group NV		79,315		1,232,047
Technip Energies NV		563,493		11,664,631
TKH Group NV		154,625		6,226,398
TomTom NV^(a)(c)		278,016		1,882,422
Van Lanschot Kempen NV		125,594		3,781,339
Vastned Retail NV		43,938		969,838
Wereldhave NV		122,903		1,840,946


				177,301,558

New Zealand — 0.7%
Air New Zealand Ltd.		6,283,788		2,439,013
Contact Energy Ltd.		3,025,585		14,924,566
Fletcher Building Ltd.		3,002,394		8,295,163
Goodman Property Trust		4,109,125		5,626,213
Infratil Ltd.		3,195,754		20,615,758
Kiwi Property Group Ltd.		6,368,635		3,386,760
Oceania Healthcare Ltd.		2,527,226		1,081,337
Ryman Healthcare Ltd.^(a)		2,226,597		7,735,003
Warehouse Group Ltd. (The)^(c)		420,468		408,648


				64,512,461

Norway — 2.4%
Aker ASA, Class A		86,326		5,129,637
Aker Carbon Capture ASA^(a)(c)		1,380,181		1,360,771
Aker Solutions ASA		961,589		3,566,554
Atea ASA		305,592		4,073,688
Austevoll Seafood ASA^(c)		356,382		2,583,507
Avance Gas Holding Ltd.^(d)		77,237		900,355
Bakkafrost P/F		192,101		10,728,490
BLUENORD ASA^(a)(c)		90,894		4,329,829
Borr Drilling Ltd.^(c)		785,370		4,865,880
Borregaard ASA		366,948		6,259,286
BW LPG Ltd.^(d)		348,312		4,298,738
BW Offshore Ltd.		414,057		949,588
Cadeler AS^(a)(c)		668,134		3,073,458
Cool Co. Ltd.		92,212		1,091,578
Crayon Group Holding ASA^(a)(c)(d)		291,017		2,446,519
DNO ASA		1,866,511		1,635,634
DOF Group ASA^(a)		577,845		3,119,243
Elkem ASA^(c)(d)		1,142,952		2,371,634
Entra ASA^(d)		281,704		3,085,626
Europris ASA^(d)		610,099		4,572,754
Flex LNG Ltd.		109,861		3,275,800
Frontline PLC, NVS		512,990		11,466,691
Golden Ocean Group Ltd.^(c)		513,361		5,413,519
Gram Car Carriers ASA		44,812		969,334
Grieg Seafood ASA		193,183		1,212,301
Hafnia Ltd.		981,349		7,136,233
Hexagon Composites ASA^(a)		453,900		1,016,795
Hoegh Autoliners ASA		365,103		3,676,285
Kitron ASA^(c)		674,420		2,052,775
Leroy Seafood Group ASA		1,055,799		4,240,430
MPC Container Ships ASA		1,336,867		2,009,591
NEL ASA^(a)(c)		6,591,332		3,290,775
Nordic Semiconductor ASA^(a)(c)		664,159		6,669,074
Norske Skog ASA^(c)(d)		284,389		979,993
Norwegian Air Shuttle ASA^(a)(c)		2,820,986		3,453,802
Nykode Therapeutics ASA^(a)(c)		558,594		959,737


Security	Shares		Value

Norway (continued)
Odfjell Drilling Ltd.		331,479	$	1,229,014
PGS ASA^(a)		3,656,061		2,287,704
Protector Forsikring ASA		230,040		4,125,179
REC Silicon ASA^(a)(c)		1,032,371		1,206,284
Scatec ASA^(a)(d)		469,824		3,493,451
Schibsted ASA, Class A		280,072		8,591,757
Schibsted ASA, Class B		373,968		10,731,279
Seadrill Ltd.^(a)(c)		138,800		5,974,327
SpareBank 1 Nord Norge		313,576		3,088,875
SpareBank 1 Oestlandet		100,907		1,174,358
SpareBank 1 SMN		506,937		6,901,747
SpareBank 1 SR-Bank ASA		684,237		8,297,970
Stolt-Nielsen Ltd.		89,519		3,346,042
Storebrand ASA		1,702,132		15,304,141
Subsea 7 SA		878,993		11,847,051
TGS ASA		504,478		4,912,483
TOMRA Systems ASA		934,967		9,391,534
Veidekke ASA		394,545		3,601,352
Wallenius Wilhelmsen ASA		402,895		3,916,724


				237,687,176

Portugal — 0.3%
Altri SGPS SA		290,528		1,416,243
Banco Comercial Portugues SA, Class R^(a)		32,018,095		9,313,949
Corticeira Amorim SGPS SA		111,671		1,140,453
CTT-Correios de Portugal SA		352,546		1,398,838
Greenvolt Energias Renovaveis SA^(a)(c)		213,899		1,867,778
Mota-Engil SGPS SA		351,309		2,014,933
Navigator Co. SA (The)		834,991		3,440,609
NOS SGPS SA		691,371		2,450,700
REN - Redes Energeticas Nacionais SGPS SA		1,593,238		3,914,550
Semapa-Sociedade de Investimento e Gestao		77,927		1,205,753
Sonae SGPS SA		3,089,644		2,986,850


				31,150,656

Singapore — 1.9%
AEM Holdings Ltd.^(c)		994,300		1,978,533
AIMS APAC REIT^(c)		2,229,575		2,173,205
Best World International Ltd.^(a)		499,600		628,344
CapitaLand Ascott Trust^(c)		10,091,296		7,194,421
CapitaLand China Trust^(c)		4,562,334		2,833,864
Capitaland India Trust		4,090,842		3,201,926
CDL Hospitality Trusts		3,550,200		2,719,350
ComfortDelGro Corp. Ltd.		8,299,100		8,631,763
Cromwell European Real Estate Investment Trust		1,182,160		1,785,121
Digital Core REIT Management Pte Ltd.^(c)		3,027,600		1,946,114
Eagle Hospitality Trust^(a)(b)(c)		1,640,200		16
ESR-LOGOS REIT		26,476,973		6,118,421
Far East Hospitality Trust		3,708,800		1,797,033
First Resources Ltd.		2,139,800		2,355,031
Frasers Centrepoint Trust		4,050,338		6,927,784
Frasers Hospitality Trust		3,159,800		1,095,272
Frasers Logistics & Commercial Trust		11,360,536		9,456,971
Golden Agri-Resources Ltd.^(c)		24,745,200		4,980,398
Hong Fok Corp. Ltd.^(c)		1,152,800		737,760
Hutchison Port Holdings Trust, Class U^(c)		18,301,000		2,740,703
iFAST Corp. Ltd.		522,000		2,862,431
Keppel DC REIT		5,318,400		6,677,889
Keppel Infrastructure Trust^(c)		15,125,090		5,684,080
Keppel REIT		8,659,300		5,955,139
Lendlease Global Commercial REIT^(c)		7,006,229		3,280,524
Mapletree Industrial Trust		8,217,393		14,966,791
Maxeon Solar Technologies Ltd.^(a)(c)		146,601		664,103


S C H E D U L E O F I N V E S T M E N T S		75

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Singapore (continued)
Nanofilm Technologies International Ltd.^(c)		1,162,900	$	593,238
NetLink NBN Trust		11,227,000		7,071,796
Olam Group Ltd.^(c)		3,696,900		2,456,745
Paragon REIT		4,479,036		2,921,473
Parkway Life REIT		1,523,600		3,992,628
Raffles Medical Group Ltd.		3,209,100		2,411,514
Riverstone Holdings Ltd./Singapore		1,916,900		997,132
Sasseur Real Estate Investment Trust		2,476,100		1,236,666
SATS Ltd.^(a)		4,071,579		8,313,096
Sheng Siong Group Ltd.^(c)		2,551,100		2,962,448
SIA Engineering Co. Ltd.^(c)		1,141,600		1,953,087
Singapore Post Ltd.^(c)		5,225,900		1,597,182
Starhill Global REIT		5,462,600		2,097,085
StarHub Ltd.^(c)		2,240,700		1,770,512
Straits Trading Co. Ltd.^(c)		542,434		670,210
Suntec REIT^(c)		7,812,300		6,906,294
Super Hi International Holding Ltd.^(a)(c)		661,000		711,033
UMS Holdings Ltd.		1,935,400		1,834,712
Venture Corp. Ltd.		1,062,500		10,585,225
Yangzijiang Financial Holding Ltd.		8,930,000		2,088,941
Yangzijiang Shipbuilding Holdings Ltd.		9,911,400		12,373,587
Yanlord Land Group Ltd.^(a)		2,216,400		856,507


				185,794,098

Spain — 1.9%
Acerinox SA		688,530		7,268,941
Aedas Homes SA^(d)		25,045		478,529
Almirall SA		311,168		2,951,703
Applus Services SA		512,127		6,193,170
Atresmedia Corp. de Medios de Comunicacion SA		324,450		1,304,069
Audax Renovables SA^(a)(c)		591,932		837,118
Banco de Sabadell SA		21,990,226		28,541,908
Bankinter SA		2,582,832		15,946,713
Cia. de Distribucion Integral Logista Holdings SA		229,973		6,504,781
Cie. Automotive SA		161,810		4,269,003
Construcciones y Auxiliar de Ferrocarriles SA		62,316		2,239,672
Distribuidora Internacional de Alimentacion SA^(a)(c)		65,957,017		855,357
eDreams ODIGEO SA^(a)		343,648		2,610,381
Ence Energia y Celulosa SA		512,040		1,618,984
Faes Farma SA		1,168,086		3,838,537
Fluidra SA		365,474		7,912,224
Gestamp Automocion SA^(d)		640,220		2,123,661
Global Dominion Access SA^(d)		331,508		1,280,845
Grenergy Renovables SA^(a)(c)		52,923		1,846,340
Indra Sistemas SA^(c)		507,173		9,004,464
Inmobiliaria Colonial SOCIMI SA		1,038,416		6,243,268
Laboratorios Farmaceuticos Rovi SA		83,304		5,745,685
Lar Espana Real Estate SOCIMI SA		209,471		1,405,791
Let’s Gowex SA.^(a)(b)(c)		51,450		1
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros		2,237,299		2,338,060
Mapfre SA		3,554,165		7,825,965
Melia Hotels International SA^(a)(c)		404,277		2,735,367
Merlin Properties SOCIMI SA		1,259,494		12,825,707
Neinor Homes SA^(d)		98,310		1,109,184
Opdenergy Holdings SA, NVS^(a)		161,638		1,007,916
Pharma Mar SA		59,942		2,502,182
Prosegur Cash SA^(d)		1,190,519		645,870
Prosegur Cia. de Seguridad SA		699,079		1,322,772
Sacyr SA		1,581,858		5,214,986
Sacyr SA, NVS		31,796		105,009
Solaria Energia y Medio Ambiente SA^(a)		316,344		4,670,541
Talgo SA^(d)		276,282		1,248,827


Security	Shares		Value

Spain (continued)
Tecnicas Reunidas SA^(a)(c)		202,326	$	1,699,526
Unicaja Banco SA^(d)		5,325,812		5,092,244
Vidrala SA		80,738		8,092,401
Viscofan SA		151,834		8,893,517


				188,351,219

Sweden — 5.7%
AAK AB		704,281		15,873,146
AcadeMedia AB^(c)(d)		301,104		1,644,887
AddLife AB, Class B		436,268		4,702,304
AddTech AB, Class B		998,353		20,595,727
AFRY AB		361,287		4,989,061
Alimak Group AB^(d)		244,682		2,156,354
Alleima AB, NVS		758,780		5,037,345
Arjo AB, Class B		858,732		4,019,368
Atrium Ljungberg AB, Class B		199,310		3,995,144
Attendo AB^(a)(d)		420,053		1,644,829
Avanza Bank Holding AB		482,272		9,687,623
Axfood AB		419,422		10,611,850
Betsson AB		442,092		4,811,338
Bilia AB, Class A		241,979		2,925,376
Billerud Aktiebolag		868,406		7,721,943
BioArctic AB, Class B^(a)(c)(d)		140,873		3,055,543
BioGaia AB, Class B		326,722		3,535,134
Biotage AB		260,409		3,701,369
BoneSupport Holding AB^(a)(d)		234,631		4,645,297
Boozt AB^(a)(d)		221,682		2,596,708
Bravida Holding AB^(d)		787,760		5,973,365
Bufab AB		101,186		3,583,652
Bure Equity AB		213,696		6,103,452
Calliditas Therapeutics AB, Class B^(a)(c)		176,854		1,932,255
Camurus AB^(a)		117,565		5,828,326
Castellum AB^(a)		1,518,170		19,544,744
Catena AB		124,983		5,328,863
Cibus Nordic Real Estate AB		202,146		2,381,753
Clas Ohlson AB, Class B		150,822		2,146,280
Cloetta AB, Class B		750,390		1,350,560
Coor Service Management Holding AB^(d)		366,874		1,545,866
Corem Property Group AB, Class B		1,920,100		1,934,540
Creades AB, Class A		198,114		1,309,367
Dios Fastigheter AB		381,147		2,956,378
Dometic Group AB^(d)		1,225,709		9,754,083
Electrolux AB, Class B^(a)		856,063		8,007,628
Electrolux Professional AB, Class B		908,191		4,825,614
Elekta AB, Class B		1,341,148		10,119,909
Embracer Group AB, Class B^(a)(c)		2,971,414		5,670,846
Engcon AB^(c)		148,824		1,190,905
Fabege AB		891,915		8,353,596
Fortnox AB		1,876,624		10,346,362
Granges AB		410,414		4,069,528
Hemnet Group AB		341,124		9,209,600
Hexatronic Group AB^(c)		717,614		1,505,278
Hexpol AB		1,015,700		11,626,265
HMS Networks AB		107,668		4,736,859
Hufvudstaden AB, Class A		425,718		5,504,911
Instalco AB		811,373		3,244,427
Intrum AB^(c)		325,472		1,927,815
Investment AB Oresund		153,607		1,649,849
INVISIO AB		154,498		2,998,684
Inwido AB		193,434		2,362,880
JM AB^(c)		252,017		4,103,817
Kambi Group PLC, Class B^(a)		88,690		1,188,880
Kindred Group PLC		879,488		10,346,474


76		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Sweden (continued)
Kinnevik AB, Class B^(a)		950,562	$	10,212,851
Lindab International AB		289,294		5,493,316
Loomis AB, Class B		277,088		7,586,110
Medicover AB, Class B		240,411		3,964,794
MEKO AB		137,783		1,399,457
Millicom International Cellular SA, SDR^(a)		525,119		9,008,169
MIPS AB		101,812		3,382,298
Modern Times Group MTG AB, Class B^(a)		358,325		2,742,624
Munters Group AB^(d)		490,206		7,824,291
Mycronic AB		281,909		7,840,973
NCAB Group AB^(c)		687,983		4,449,574
NCC AB, Class B		299,183		3,820,589
New Wave Group AB, Class B		344,179		3,056,777
Nolato AB, Class B		746,564		3,615,548
Nordnet AB publ		528,172		8,311,077
Norion Bank AB^(a)		233,823		925,964
Note AB^(a)(c)		69,553		983,082
NP3 Fastigheter AB		100,242		1,974,848
Nyfosa AB		578,294		5,172,483
OX2 AB, Class B^(a)(c)		586,968		2,792,782
Pandox AB, Class B		353,145		4,842,417
Paradox Interactive AB		138,967		2,722,596
Peab AB, Class B		654,016		3,228,836
Platzer Fastigheter Holding AB, Class B		221,471		1,804,154
Ratos AB, Class B		754,764		2,487,923
Resurs Holding AB^(c)(d)		472,926		649,894
Rvrc Holding AB		182,990		1,113,221
Samhallsbyggnadsbolaget i Norden AB^(c)		4,179,991		1,915,250
Scandic Hotels Group AB^(a)(c)(d)		542,918		2,501,314
Sdiptech AB, Class B^(a)		110,353		2,738,825
Sectra AB, Class B		521,192		9,707,959
Sinch AB^(a)(c)(d)		2,632,417		8,084,150
SkiStar AB		157,569		1,979,094
SSAB AB, Class A		874,099		6,800,322
SSAB AB, Class B		2,507,579		19,154,041
Stillfront Group AB^(a)		1,779,149		1,843,811
Storskogen Group AB		5,240,176		3,617,299
Surgical Science Sweden AB^(a)(c)		141,159		2,412,486
Svolder AB		335,129		1,853,610
Sweco AB, Class B		827,571		9,700,625
SwedenCare AB		272,038		1,617,069
Synsam AB^(c)		181,403		807,031
Thule Group AB^(d)		404,765		10,299,285
Trelleborg AB, Class B		870,124		26,484,124
Troax Group AB		147,966		3,214,497
Truecaller AB^(a)(c)		901,999		2,666,961
Vimian Group AB^(a)(c)		635,262		1,743,412
Vitec Software Group AB, Class B^(c)		120,475		6,691,870
Vitrolife AB		285,080		4,693,382
Wallenstam AB, Class B^(c)		1,336,565		6,709,238
Wihlborgs Fastigheter AB		1,053,114		9,414,471
Xvivo Perfusion AB^(a)		87,745		2,438,454


				563,109,185

Switzerland — 4.4%
Accelleron Industries AG, NVS		363,128		11,620,002
Allreal Holding AG, Registered		58,157		10,344,466
ALSO Holding AG, Registered		24,436		7,154,044
Arbonia AG		193,074		2,235,696
Aryzta AG^(a)		3,831,478		6,877,027
Autoneum Holding AG^(a)(c)		11,843		1,759,776
Basilea Pharmaceutica AG, Registered^(a)		46,268		1,813,917
Belimo Holding AG, Registered		38,155		17,791,271


Security	Shares		Value

Switzerland (continued)
Bell Food Group AG, Registered		8,419	$	2,468,554
Bossard Holding AG, Class A, Registered		21,705		5,194,129
Bucher Industries AG, Registered		25,734		10,900,056
Burckhardt Compression Holding AG		11,794		6,598,357
Burkhalter Holding AG		28,692		2,929,214
Bystronic AG, Registered		5,055		2,532,856
Cembra Money Bank AG		117,192		9,035,732
Coltene Holding AG, Registered		9,945		654,793
Comet Holding AG, Registered		29,890		9,855,146
COSMO Pharmaceuticals NV		36,313		2,693,125
Daetwyler Holding AG, Bearer		28,922		5,880,748
DKSH Holding AG		138,372		9,682,554
DocMorris AG^(a)(c)		45,917		4,283,644
dormakaba Holding AG		12,140		6,081,412
Dottikon Es Holding AG^(a)(c)		10,784		2,849,240
EFG International AG		356,054		4,572,271
Emmi AG, Registered		8,315		8,710,990
Flughafen Zurich AG, Registered		76,930		15,872,657
Forbo Holding AG, Registered		3,708		4,359,759
Galenica AG^(d)		192,495		16,974,697
Georg Fischer AG		316,039		21,152,010
Gurit Holding AG^(a)		11,032		966,475
Huber + Suhner AG, Registered		65,383		4,689,458
Idorsia Ltd.^(a)(c)		426,739		761,525
Implenia AG, Registered		56,457		2,004,290
Inficon Holding AG, Registered		6,554		9,948,154
Interroll Holding AG, Registered		2,793		8,157,771
Intershop Holding AG		4,308		3,090,916
Kardex Holding AG, Registered		23,837		6,054,179
Komax Holding AG, Registered		14,924		2,869,873
Landis+Gyr Group AG		82,494		6,764,222
LEM Holding SA, Registered		1,757		4,015,069
Leonteq AG		35,015		1,302,913
Medacta Group SA^(d)		27,116		4,057,975
Medmix AG^(d)		92,406		1,852,510
Meier Tobler Group AG		17,251		743,655
Metall Zug AG, Class B, Registered		724		1,208,135
Meyer Burger Technology AG^(a)(c)		12,659,667		1,628,336
Mobilezone Holding AG, Registered		160,463		2,464,254
Mobimo Holding AG, Registered		27,883		8,237,703
Montana Aerospace AG^(a)(d)		103,722		2,025,427
OC Oerlikon Corp. AG, Registered		729,628		3,179,598
Orior AG		22,171		1,711,907
PolyPeptide Group AG^(a)(c)(d)		55,124		1,011,830
PSP Swiss Property AG, Registered		176,627		23,508,532
Rieter Holding AG, Registered^(c)		9,431		992,249
Schweiter Technologies AG, NVS		3,696		2,027,748
Sensirion Holding AG^(a)(c)(d)		35,946		2,991,341
SFS Group AG		66,820		8,022,383
Siegfried Holding AG, Registered		15,455		15,395,463
SKAN Group AG^(c)		38,923		3,434,326
Softwareone Holding AG		424,182		7,950,254
St. Galler Kantonalbank AG, Class A, Registered		11,140		6,447,135
Stadler Rail AG		226,672		7,235,740
Sulzer AG, Registered		72,724		7,025,302
Swissquote Group Holding SA, Registered		44,386		11,139,683
Tecan Group AG, Registered		49,241		18,796,015
TX Group AG		11,677		1,759,094
u-blox Holding AG		26,018		2,564,251
Valiant Holding AG, Registered		61,213		7,334,636
Vetropack Holding AG, Class A, Registered		48,829		2,124,168
Vontobel Holding AG, Registered		108,467		7,144,626


S C H E D U L E O F I N V E S T M E N T S		77

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Switzerland (continued)
V-ZUG Holding AG^(a)(c)		9,133	$	640,300
Ypsomed Holding AG, Registered		15,760		5,563,096
Zehnder Group AG, Registered		34,743		2,070,542


				435,791,202

United Kingdom — 14.9%
4imprint Group PLC		108,854		7,464,551
888 Holdings PLC^(a)		1,470,428		1,446,056
AB Dynamics PLC		66,332		1,492,110
Advanced Medical Solutions Group PLC		851,364		2,260,366
AG Barr PLC		344,263		2,478,096
Airtel Africa PLC^(d)		3,634,819		5,162,129
AJ Bell PLC		1,190,519		4,773,669
Alpha Financial Markets Consulting PLC		430,915		1,976,877
Alpha Group International PLC		132,824		2,768,334
Alphawave IP Group PLC^(a)(c)		956,474		1,569,857
AO World PLC^(a)(c)		1,635,286		1,886,919
Ascential PLC^(a)		1,704,060		6,563,626
Ashmore Group PLC		1,782,456		4,793,400
ASOS PLC^(a)(c)		228,662		1,068,034
Assura PLC		11,376,647		6,421,611
Aston Martin Lagonda Global Holdings PLC^(a)(d)		1,067,255		2,574,226
Atalaya Mining PLC		403,267		1,778,490
Auction Technology Group PLC^(a)(c)		368,317		2,543,887
B&M European Value Retail SA		3,662,735		24,004,531
Babcock International Group PLC		967,826		5,531,360
Balanced Commercial Property Trust Ltd.		2,719,908		2,608,593
Balfour Beatty PLC		2,154,961		9,066,865
Bank of Georgia Group PLC		132,467		6,370,874
Beazley PLC		2,576,445		17,735,125
Bellway PLC		457,466		15,939,087
Big Yellow Group PLC		720,639		10,420,454
Bodycote PLC		739,991		5,966,626
boohoo Group PLC^(a)(c)		2,919,076		1,345,822
Breedon Group PLC		1,160,506		5,346,029
Bridgepoint Group PLC^(d)		932,261		3,175,750
British Land Co. PLC (The)		3,396,124		16,324,214
Britvic PLC		967,913		10,825,066
Burford Capital Ltd.		721,013		10,992,292
Bytes Technology Group PLC		874,009		7,255,692
C&C Group PLC		1,464,691		2,851,128
Capita PLC^(a)		6,491,159		1,567,923
Capital & Counties Properties PLC		5,663,539		9,540,744
Carnival PLC^(a)		533,052		8,008,654
Centamin PLC		4,429,206		5,395,765
Central Asia Metals PLC		686,778		1,446,528
Ceres Power Holdings PLC^(a)(c)		507,274		1,537,741
Chemring Group PLC		1,085,480		4,842,214
Clarkson PLC		111,045		4,995,821
Close Brothers Group PLC		578,317		3,975,101
CLS Holdings PLC		667,094		829,651
Coats Group PLC		6,177,349		5,605,246
Computacenter PLC		330,086		12,059,106
ConvaTec Group PLC^(d)		6,346,690		19,315,355
Craneware PLC		115,612		3,150,075
Cranswick PLC		205,242		10,466,554
Crest Nicholson Holdings PLC		935,811		2,483,387
Currys PLC		4,129,499		2,589,444
Custodian Property Income REIT PLC		1,515,188		1,369,668
CVS Group PLC		279,108		5,970,686
Darktrace PLC^(a)		1,341,795		5,818,041
Deliveroo PLC, Class A^(a)(d)		3,508,080		5,223,804
Derwent London PLC		370,202		9,977,623


Security	Shares		Value

United Kingdom (continued)
Diploma PLC		517,202	$	21,319,963
Direct Line Insurance Group PLC^(a)		5,029,848		10,733,462
DiscoverIE Group PLC		364,358		3,597,129
Diversified Energy Co. PLC		181,395		2,092,092
Domino’s Pizza Group PLC		1,442,065		6,368,486
Dowlais Group PLC		5,341,962		6,102,185
Dr. Martens PLC		2,262,888		2,547,903
Drax Group PLC		1,518,752		9,800,648
DS Smith PLC		5,278,260		18,820,123
Dunelm Group PLC		464,951		6,404,692
easyJet PLC^(a)		1,147,861		8,036,220
Elementis PLC^(a)		2,246,058		4,025,347
Empiric Student Property PLC		2,293,607		2,657,245
Energean PLC		582,091		6,994,129
EnQuest PLC^(a)		5,443,910		889,980
Essentra PLC		1,116,290		2,447,387
FD Technologies PLC^(a)(c)		90,096		1,431,628
FDM Group Holdings PLC		296,713		1,727,832
Ferrexpo PLC		1,086,941		1,195,653
Fevertree Drinks PLC		406,946		5,208,800
Finablr PLC^(a)(b)(d)		1,080,679		14
Firstgroup PLC		2,553,552		5,376,323
Forterra PLC^(d)		808,226		1,692,086
Frasers Group PLC^(a)		434,954		4,450,229
Future PLC		423,866		3,798,323
Games Workshop Group PLC		126,901		15,929,386
Gamma Communications PLC^(c)		358,378		5,422,820
GB Group PLC		969,401		3,461,975
Genuit Group PLC		957,684		5,121,591
Genus PLC		252,395		7,330,939
Grafton Group PLC		770,187		9,486,309
Grainger PLC		2,667,649		8,898,035
Great Portland Estates PLC		794,194		4,178,799
Greatland Gold PLC^(a)(c)		17,856,180		1,629,298
Greggs PLC		393,307		13,248,663
Gulf Keystone Petroleum Ltd.		889,581		1,179,570
Halfords Group PLC		839,593		1,898,839
Hammerson PLC		14,367,551		4,903,014
Harbour Energy PLC		2,359,774		8,293,748
Hays PLC		6,007,167		7,475,053
Helios Towers PLC^(a)		2,826,320		2,833,201
Hill & Smith PLC		309,078		7,316,068
Hilton Food Group PLC		291,527		2,903,895
Hiscox Ltd.		1,329,873		17,510,769
Hochschild Mining PLC^(a)		1,286,872		1,691,894
Home REIT PLC^(b)		3,524,118		1,274,540
Howden Joinery Group PLC		2,116,023		21,428,715
Hunting PLC		545,581		2,271,298
Ibstock PLC^(d)		1,536,873		2,987,740
IG Group Holdings PLC		1,504,538		13,519,981
IMI PLC		999,449		21,197,862
Impact Healthcare REIT PLC, Class B		1,228,282		1,326,896
Impax Asset Management Group PLC^(c)		382,378		2,628,923
Inchcape PLC		1,433,140		12,340,410
Indivior PLC, NVS^(a)		451,304		7,932,775
IntegraFin Holdings PLC		1,132,871		4,224,846
Intermediate Capital Group PLC		1,116,213		25,165,131
International Distributions Services PLC^(a)		2,747,530		9,638,025
Investec PLC		2,488,248		16,199,777
IP Group PLC		3,911,970		2,597,804
ITM Power PLC^(a)(c)		1,786,095		1,346,377
ITV PLC		13,922,732		10,545,916


78		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

United Kingdom (continued)
IWG PLC^(a)		2,907,286	$	6,889,659
J D Wetherspoon PLC^(a)		345,920		3,682,430
JET2 PLC		660,102		11,176,273
John Wood Group PLC^(a)		2,673,250		5,299,819
Johnson Matthey PLC		702,342		14,481,572
Johnson Service Group PLC		1,605,350		2,974,381
JTC PLC^(d)		602,896		6,060,307
Judges Scientific PLC		22,884		2,668,083
Jupiter Fund Management PLC		1,747,556		1,750,703
Just Group PLC		4,016,468		4,327,817
Kainos Group PLC		336,626		4,893,173
Keller Group PLC		279,719		3,098,225
Keywords Studios PLC		291,466		6,095,092
Kier Group PLC^(a)		1,687,430		2,732,978
Lancashire Holdings Ltd.		934,398		7,187,868
Learning Technologies Group PLC		2,237,439		2,282,101
Liontrust Asset Management PLC		237,269		1,872,805
LondonMetric Property PLC		4,194,439		10,248,668
LXI REIT PLC		6,358,678		8,480,572
Man Group PLC/Jersey		4,601,497		13,826,435
Marks & Spencer Group PLC		7,714,385		24,102,019
Marlowe PLC^(a)(c)		308,203		1,464,697
Marshalls PLC		880,641		3,124,944
Me Group International PLC		592,305		953,298
Mitchells & Butlers PLC^(a)		1,046,770		3,451,740
Mitie Group PLC		4,917,294		6,443,565
Mobico Group PLC		2,070,370		2,240,383
Molten Ventures PLC^(a)(c)		574,889		1,738,337
Moneysupermarket.com Group PLC		1,959,319		6,321,767
Moonpig Group PLC^(a)(c)		912,180		1,930,158
Morgan Advanced Materials PLC		1,104,906		3,794,671
Morgan Sindall Group PLC		160,780		4,615,085
NCC Group PLC		1,177,643		1,808,822
Network International Holdings PLC^(a)(d)		1,836,973		9,018,658
Next 15 Group PLC		327,833		3,801,485
Ninety One PLC		1,146,461		2,564,387
OSB Group PLC		1,520,829		8,653,938
Oxford Instruments PLC		211,196		5,941,802
Oxford Nanopore Technologies PLC^(a)		2,230,897		4,532,028
Pagegroup PLC		1,262,437		7,337,080
Pan African Resources PLC^(c)		6,208,107		1,409,862
Paragon Banking Group PLC		795,855		7,088,347
Pennon Group PLC		1,007,728		8,972,400
Petrofac Ltd.^(a)(c)		1,651,835		639,634
Pets at Home Group PLC		1,735,968		6,164,379
Picton Property Income Ltd.		2,016,654		1,710,920
Playtech PLC^(a)		882,780		4,971,713
Plus500 Ltd.		309,137		6,991,711
Polar Capital Holdings PLC		332,400		1,910,448
Premier Foods PLC		2,508,147		4,519,934
Primary Health Properties PLC		5,219,010		6,425,552
PRS REIT PLC (The)		2,071,660		2,210,600
PZ Cussons PLC		928,915		1,568,129
QinetiQ Group PLC		2,014,664		9,098,670
Quilter PLC^(d)		5,394,078		7,163,391
Rank Group PLC^(a)		797,627		711,626
Rathbones Group PLC		228,283		4,775,334
Redde Northgate PLC		879,658		3,957,507
Redrow PLC		1,080,098		8,205,002
Renew Holdings PLC		312,407		3,484,756
Renewi PLC^(a)		289,463		2,153,330
Renishaw PLC		140,173		6,199,391


Security	Shares		Value

United Kingdom (continued)
RHI Magnesita NV		72,437	$	3,088,133
Rightmove PLC		3,113,459		22,034,486
Rotork PLC		3,297,375		12,998,597
RS GROUP PLC		1,818,163		18,016,102
RWS Holdings PLC		1,165,120		3,508,299
S4 Capital PLC^(a)(c)		1,411,601		787,099
Safestore Holdings PLC		833,702		8,682,365
Savills PLC		527,211		6,768,204
Serco Group PLC		4,247,959		9,269,642
Serica Energy PLC		945,860		2,528,069
SIG PLC^(a)		2,579,826		1,074,003
Sirius Real Estate Ltd.		5,161,991		5,939,948
Smart Metering Systems PLC		512,776		6,179,989
Softcat PLC		496,500		9,098,443
SolGold PLC^(a)(c)		5,726,459		566,057
Spectris PLC		394,530		18,366,714
Spire Healthcare Group PLC^(d)		1,061,551		3,181,426
Spirent Communications PLC		2,307,873		3,442,800
SSP Group PLC^(a)		3,085,909		8,782,423
SThree PLC		482,878		2,498,664
Supermarket Income REIT PLC		4,794,817		4,921,943
Synthomer PLC^(a)		467,831		934,113
Target Healthcare REIT PLC		2,383,885		2,508,635
Tate & Lyle PLC		1,546,061		12,206,585
TBC Bank Group PLC		180,287		6,660,127
Team17 Group PLC^(a)		446,267		1,526,997
Telecom Plus PLC		290,309		5,349,392
THG PLC, Class B^(a)(c)		2,233,551		1,862,470
TI Fluid Systems PLC^(d)		1,306,632		2,369,490
TP ICAP Group PLC		2,995,779		7,097,786
Trainline PLC^(a)(d)		1,748,353		7,320,634
Travis Perkins PLC		808,601		8,065,487
Tritax Big Box REIT PLC		7,349,029		15,385,836
Trustpilot Group PLC^(a)(d)		1,125,887		2,564,026
TUI AG^(a)		1,754,944		12,090,863
Tullow Oil PLC^(a)		4,551,468		1,783,968
Tyman PLC		736,511		2,860,811
UK Commercial Property REIT Ltd.		2,944,069		2,384,778
UNITE Group PLC (The)		1,435,538		18,340,198
Urban Logistics REIT PLC		1,824,766		2,899,908
Vanquis Banking Group PLC		966,779		1,448,186
Vesuvius PLC		833,525		5,018,730
Victoria PLC^(a)(c)		221,337		782,596
Victrex PLC		334,459		5,777,211
Virgin Money UK PLC		4,400,481		8,691,273
Vistry Group PLC		1,264,272		15,992,157
Volex PLC		507,536		2,038,946
Volution Group PLC		765,274		4,189,798
Warehouse REIT PLC		1,593,970		1,753,393
Watches of Switzerland Group PLC^(a)(c)(d)		923,645		4,349,854
Weir Group PLC (The)		1,016,991		23,376,469
WH Smith PLC		504,234		7,705,315
Wickes Group PLC		939,502		1,864,115
Wincanton PLC		449,366		2,456,919
Workspace Group PLC		555,247		3,652,253
Yellow Cake PLC^(a)(d)		830,172		7,296,159
YouGov PLC		404,991		5,979,306
Young & Co’s Brewery PLC, Series A, Class A^(c)		81,434		1,057,814


				1,459,586,103


Total Common Stocks — 98.9% (Cost: $10,867,159,918)				9,717,132,438


S C H E D U L E O F I N V E S T M E N T S		79

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value


Preferred Stocks

Germany — 0.3%
Draegerwerk AG & Co. KGaA, Preference Shares, NVS		31,344	$	1,611,124
Einhell Germany AG, Preference Shares, NVS		6,020		1,014,907
Fuchs Petrolub SE, Preference Shares, NVS		266,389		11,676,769
Jungheinrich AG, Preference Shares, NVS		184,355		6,205,275
Schaeffler AG, Preference Shares, NVS		477,170		3,015,386
Sixt SE, Preference Shares, NVS		63,675		4,360,789
STO SE & Co. KGaA, Preference Shares, NVS		10,578		1,675,879


				29,560,129

Italy — 0.0%
Danieli & C Officine Meccaniche SpA, Preference Shares, NVS		182,120		4,420,308


Total Preferred Stocks — 0.3% (Cost: $32,865,749)				33,980,437


Warrants

Australia — 0.0%
PointsBet Holdings Ltd. (Issued/Exercisable 06/20/22, 1 Share for 1 Warrant, Expires 07/08/24, Strike Price AUD 10.00)		42,124		—


Italy — 0.0%
Webuild SpA (Issued/Exercisable 08/02/21, 1 Share for 1 Warrant, Expires 08/31/30, Strike Price EUR 0.001)^(c)		96,743		1


Spain — 0.0%
Abengoa SA (Issued 03/31/17, Exercisable 06/30/17, 1 Share for 1 Warrant, Expires 03/31/25, Strike Price EUR 0.001)^(a)(b)(c)		3,096,556		34


Total Warrants — 0.0% (Cost: $—)				35


Total Long-Term Investments — 99.2% (Cost: $10,900,025,667)				9,751,112,910


Security	Shares		Value


Short-Term Securities

Money Market Funds — 3.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.51%^(f)(g)(h)		378,727,438	$	378,954,674
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%^(f)(g)		3,110,000		3,110,000


Total Short-Term Securities — 3.9% (Cost: $381,871,566)				382,064,674


Total Investments — 103.1% (Cost: $11,281,897,233)				10,133,177,584

Liabilities in Excess of Other Assets — (3.1)%				(302,931,305	)


Net Assets — 100.0%			$	9,830,246,279

^(a)	Non-income producing security.

^(b)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(c)	All or a portion of this security is on loan.

^(d)	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.

^(e)	This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^(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.

Affiliates




Affiliated Issuer	Value at 07/31/23		Purchases at Cost		Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 01/31/24		Shares Held at 01/31/24		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares	$	422,283,531	$	—	$	(43,455,226	)^(a)	$	52,405	$	73,964	$	378,954,674		378,727,438	$	4,950,610	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		3,300,000		—		(190,000	)^(a)		—		—		3,110,000		3,110,000		153,389			—


								$	52,405	$	73,964	$	382,064,674			$	5,103,999		$	—

^(a)

Represents net amount purchased (sold).

^(b)


80		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

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
TOPIX Index		158		03/07/24	$	27,119	$	1,209,446
Euro STOXX 50 Index		557		03/15/24		28,004		678,617
FTSE 100 Index		233		03/15/24		22,440		(58,867	)


							$	1,829,196

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 Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Assets — Derivative Financial Instruments
Futures contracts
Unrealized appreciation on futures contracts^(a)	$	—	$	—	$	1,888,063	$	—	$	—	$	—	$	1,888,063


Liabilities — Derivative Financial Instruments
Futures contracts
Unrealized depreciation on futures contracts^(a)	$	—	$	—	$	58,867	$	—	$	—	$	—	$	58,867

^(a)

For the period ended January 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:




	Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total


Net Realized Gain (Loss) from
Futures contracts	$	—	$	—	$	1,938,175	$	—	$	—	$	—	$	1,938,175

Net Change in Unrealized Appreciation (Depreciation) on
Futures contracts	$	—	$	—	$	148,665	$	—	$	—	$	—	$	148,665

Average Quarterly Balances of Outstanding Derivative Financial Instruments



Futures contracts:
Average notional value of contracts — long			$75,665,028

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


S C H E D U L E O F I N V E S T M E N T S		81

Schedule of Investments (unaudited) (continued)

January 31, 2024

iShares^® MSCI EAFE Small-Cap ETF

Fair Value Hierarchy as of Period End




	Level 1		Level 2			Level 3		Total


Assets
Investments
Long-Term Investments
Common Stocks	$	917,853,766	$	8,793,010,955		$	6,267,717	$	9,717,132,438
Preferred Stocks		2,690,786		31,289,651			—		33,980,437
Warrants		—		1			34		35
Short-Term Securities
Money Market Funds		382,064,674		—			—		382,064,674


	$	1,302,609,226	$	8,824,300,607		$	6,267,751	$	10,133,177,584

Derivative Financial Instruments^(a)
Assets
Equity Contracts	$	—	$	1,888,063		$	—	$	1,888,063
Liabilities
Equity Contracts		—		(58,867	)		—		(58,867	)


	$	—	$	1,829,196		$	—		1,829,196

^(a)

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

See notes to financial statements.


82		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Statements of Assets and Liabilities (unaudited)

January 31, 2024


	iShares Currency Hedged MSCI ACWI ex U.S. ETF		iShares Currency Hedged MSCI EAFE ETF		iShares Currency Hedged MSCI EAFE Small-Cap ETF			iShares MSCI ACWI ex U.S. ETF


ASSETS
Investments, at value — unaffiliated^(a)(b)	$	—	$	—	$	—		$	4,481,394,874
Investments, at value — affiliated^(c)		193,537,526		4,350,555,754		109,597,544			24,468,281
Cash		7,436		3,710		442			8,359
Cash pledged for futures contracts		—		—		—			300,000
Foreign currency, at value^(d)		—		—		—			7,750,576
Receivables:
Securities lending income — affiliated		—		82,874		—			16,639
Capital shares sold		12,261		—		—			—
Dividends — unaffiliated		—		—		—			4,163,325
Dividends — affiliated		1,985		21,560		651			19,786
Tax reclaims		—		—		—			5,133,646
Unrealized appreciation on forward foreign currency exchange contracts		5,259,205		128,120,041		3,921,289			—


Total assets		198,818,413		4,478,783,939		113,519,926			4,523,255,486


LIABILITIES
Cash received as collateral for OTC derivatives		570,000		—		—			—
Collateral on securities loaned, at value		—		438,376,400		—			20,588,286
Payables:
Investments purchased		3,427,545		82,367,889		2,603,144			—
Deferred foreign capital gain tax		—		—		—			7,510,760
Investment advisory fees		4,656		89,004		2,747			1,232,193
Professional fees		—		—		—			45,847
Variation margin on futures contracts		—		—		—			53,374
Unrealized depreciation on forward foreign currency exchange contracts		965,157		23,424,435		669,400			—


Total liabilities		4,967,358		544,257,728		3,275,291			29,430,460

Commitments and contingent liabilities

NET ASSETS	$	193,851,055	$	3,934,526,211	$	110,244,635		$	4,493,825,026


NET ASSETS CONSIST OF
Paid-in capital	$	191,510,193	$	3,848,267,915	$	123,665,246		$	4,890,237,367
Accumulated earnings (loss)		2,340,862		86,258,296		(13,420,611	)		(396,412,341	)


NET ASSETS	$	193,851,055	$	3,934,526,211	$	110,244,635		$	4,493,825,026


NET ASSET VALUE
Shares outstanding		6,660,000		122,150,000		3,750,000			89,600,000


Net asset value	$	29.11	$	32.21	$	29.40		$	50.15


Shares authorized		Unlimited		Unlimited		Unlimited			Unlimited


Par value		None		None		None			None


^(a)Investments, at cost — unaffiliated	$	—	$	—	$	—		$	4,235,513,105
^(b)Securities loaned, at value	$	—	$	427,046,932	$	—		$	19,526,951
^(c)Investments, at cost — affiliated	$	179,992,567	$	3,971,048,560	$	108,631,642		$	24,449,256
^(d)Foreign currency, at cost	$	—	$	—	$	—		$	7,813,238

See notes to financial statements.


F I N A N C I A L S T A T E M E N T S		83

Statements of Assets and Liabilities (unaudited) (continued)

January 31, 2024


	iShares MSCI EAFE ETF			iShares MSCI EAFE Small-Cap ETF


ASSETS
Investments, at value — unaffiliated^(a)(b)	$	50,481,971,580		$	9,751,112,910
Investments, at value — affiliated^(c)		191,252,120			382,064,674
Cash		8,158			53,024
Foreign currency collateral pledged for futures contracts^(d)		9,041,585			4,276,138
Foreign currency, at value^(e)		35,884,795			43,543,880
Receivables:
Investments sold		—			4,468,367
Securities lending income — affiliated		49,966			619,731
Dividends — unaffiliated		35,758,848			14,282,036
Dividends — affiliated		196,006			12,800
Tax reclaims		88,995,210			12,567,727
Foreign withholding tax claims		40,940,056			—


Total assets		50,884,098,324			10,213,001,287


LIABILITIES
Collateral on securities loaned, at value		130,631,576			378,713,044
Payables:
Capital shares redeemed		—			305,954
Deferred foreign capital gain tax		—			47,504
Foreign taxes		—			675
Investment advisory fees		13,655,151			3,318,122
IRS compliance fee for foreign withholding tax claims		101,635,502			—
Professional fees		4,094,677			—
Variation margin on futures contracts		617,005			369,709


Total liabilities		250,633,911			382,755,008

Commitments and contingent liabilities

NET ASSETS	$	50,633,464,413		$	9,830,246,279


NET ASSETS CONSIST OF
Paid-in capital	$	52,245,600,452		$	11,773,446,237
Accumulated loss		(1,612,136,039	)		(1,943,199,958	)


NET ASSETS	$	50,633,464,413		$	9,830,246,279


NET ASSET VALUE
Shares outstanding		675,000,000			163,000,000


Net asset value	$	75.01		$	60.31


Shares authorized		Unlimited			Unlimited


Par value		None			None


^(a)Investments, at cost — unaffiliated	$	43,113,385,388		$	10,900,025,667
^(b)Securities loaned, at value	$	124,041,954		$	344,151,900
^(c)Investments, at cost — affiliated	$	191,150,860		$	381,871,566
^(d)Foreign currency collateral pledged, at cost	$	9,908,433		$	4,341,033
^(e)Foreign currency, at cost	$	35,434,760		$	43,548,059

See notes to financial statements.


84		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Statements of Operations (unaudited)

Six Months Ended January 31, 2024


	iShares Currency Hedged MSCI ACWI ex U.S. ETF			iShares Currency Hedged MSCI EAFE ETF			iShares Currency Hedged MSCI EAFE Small-Cap ETF			iShares MSCI ACWI ex U.S. ETF


INVESTMENT INCOME
Dividends — unaffiliated	$	—		$	—		$	—		$	47,062,236
Dividends — affiliated		2,671,261			47,797,565			1,463,060			203,972
Interest — unaffiliated		—			—			—			34,913
Securities lending income — affiliated — net		35,729			608,071			—			160,877
Other income — unaffiliated		—			—			—			43,104
Foreign taxes withheld		—			—			—			(3,957,265	)
Foreign withholding tax claims		—			—			—			411,730
Other foreign taxes		—			—			—			(25,251	)


Total investment income		2,706,990			48,405,636			1,463,060			43,934,316


EXPENSES
Investment advisory		344,337			6,954,117			219,187			7,053,237
Interest expense		214			—			—			12,461
Commitment costs		—			17,912			—			19,473
Professional		—			—			—			49,271


Total expenses		344,551			6,972,029			219,187			7,134,442

Less:
Investment advisory fees waived		(317,366	)		(6,423,020	)		(203,895	)		—


Total expenses after fees waived		27,185			549,009			15,292			7,134,442


Net investment income		2,679,805			47,856,627			1,447,768			36,799,874


REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments — unaffiliated^(a)		—			—			—			(34,018,300	)
Investments — affiliated		(585,322	)		1,286,286			(952,204	)		4,975
Forward foreign currency exchange contracts		(1,409,198	)		(35,087,324	)		(969,511	)		—
Foreign currency transactions		25,689			—			—			(36,763	)
Futures contracts		—			—			—			39,179
In-kind redemptions — unaffiliated^(b)		—			—			—			32,562,915
In-kind redemptions — affiliated^(b)		—			4,536,766			55,074			—


		(1,968,831	)		(29,264,272	)		(1,866,641	)		(1,447,994	)

Net change in unrealized appreciation (depreciation) on:
Investments — unaffiliated^(c)		—			—			—			(58,877,310	)
Investments — affiliated		(2,079,822	)		42,186,540			105,819			5,277
Forward foreign currency exchange contracts		5,954,037			140,481,292			4,335,593			—
Foreign currency translations		(207	)		—			—			(163,607	)
Futures contracts		—			—			—			(496,771	)


		3,874,008			182,667,832			4,441,412			(59,532,411	)


Net realized and unrealized gain (loss)		1,905,177			153,403,560			2,574,771			(60,980,405	)


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	4,584,982		$	201,260,187		$	4,022,539		$	(24,180,531	)


^(a) Net of foreign capital gain tax and capital gain tax refund, if applicable of	$	—		$	—		$	—		$	(159,622	)
^(b) See Note 2 of the Notes to Financial Statements.
^(c) Net of increase in deferred foreign capital gain tax of	$	—		$	—		$	—		$	(3,275,704	)

See notes to financial statements.


F I N A N C I A L S T A T E M E N T S		85

Statements of Operations (unaudited) (continued)

Six Months Ended January 31, 2024


	iShares MSCI EAFE ETF			iShares MSCI EAFE Small-Cap ETF


INVESTMENT INCOME
Dividends — unaffiliated	$	501,926,857		$	116,267,172
Dividends — affiliated		1,646,832			153,389
Interest — unaffiliated		234,866			76,672
Securities lending income — affiliated — net		341,592			4,950,610
Other income — unaffiliated		6,839			—
Foreign taxes withheld		(27,544,072	)		(8,342,404	)
Foreign withholding tax claims		970,490			—


Total investment income		477,583,404			113,105,439


EXPENSES
Investment advisory		77,809,237			19,770,167
Professional		101,515			3,782


Total expenses		77,910,752			19,773,949


Net investment income		399,672,652			93,331,490


REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments — unaffiliated^(a)		(288,237,715	)		(153,829,129	)
Investments — affiliated		13,121			52,405
Foreign currency transactions		849,275			(536,840	)
Futures contracts		8,450,400			1,938,175
In-kind redemptions — unaffiliated^(b)		481,882,496			52,778,837


		202,957,577			(99,596,552	)

Net change in unrealized appreciation (depreciation) on:
Investments — unaffiliated^(c)		382,488,250			(149,465,195	)
Investments — affiliated		24,541			73,964
Foreign currency translations		(1,527,451	)		(371,989	)
Futures contracts		(1,996,837	)		148,665


		378,988,503			(149,614,555	)


Net realized and unrealized gain (loss)		581,946,080			(249,211,107	)


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	981,618,732		$	(155,879,617	)


^(a) Net of foreign capital gain tax and capital gain tax refund, if applicable of	$	—		$	(675	)
^(b) See Note 2 of the Notes to Financial Statements.
^(c) Net of increase in deferred foreign capital gain tax of	$	—		$	(9,708	)

See notes to financial statements.


86		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Statements of Changes in Net Assets


	iShares Currency Hedged MSCI ACWI ex U.S. ETF							iShares Currency Hedged MSCI EAFE ETF


	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23			Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23


INCREASE (DECREASE) IN NET ASSETS

OPERATIONS
Net investment income		$	2,679,805		$	3,847,827			$	47,856,627		$	74,633,925
Net realized loss			(1,968,831	)		(4,357,692	)			(29,264,272	)		(47,137,260	)
Net change in unrealized appreciation (depreciation)			3,874,008			23,263,272				182,667,832			490,789,318


Net increase in net assets resulting from operations			4,584,982			22,753,407				201,260,187			518,285,983


DISTRIBUTIONS TO SHAREHOLDERS^(a)
Decrease in net assets resulting from distributions to shareholders			(2,638,743	)		(21,121,660	)			(47,700,724	)^(b)		(667,586,056	)


CAPITAL SHARE TRANSACTIONS
Net increase in net assets derived from capital share transactions			11,609,597			58,363,034				224,407,708			42,219,759


NET ASSETS
Total increase (decrease) in net assets			13,555,836			59,994,781				377,967,171			(107,080,314	)
Beginning of period			180,295,219			120,300,438				3,556,559,040			3,663,639,354


End of period		$	193,851,055		$	180,295,219			$	3,934,526,211		$	3,556,559,040

^(a)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(b)	A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end.

See notes to financial statements.


F I N A N C I A L S T A T E M E N T S		87

Statements of Changes in Net Assets (continued)


	iShares Currency Hedged MSCI EAFE Small-Cap ETF							iShares MSCI ACWI ex U.S. ETF


	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23			Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23


INCREASE (DECREASE) IN NET ASSETS

OPERATIONS
Net investment income		$	1,447,768		$	1,576,592			$	36,799,874		$	127,198,735
Net realized loss			(1,866,641	)		(4,643,212	)			(1,447,994	)		(58,790,597	)
Net change in unrealized appreciation (depreciation)			4,441,412			12,327,854				(59,532,411	)		459,856,412


Net increase (decrease) in net assets resulting from operations			4,022,539			9,261,234				(24,180,531	)		528,264,550


DISTRIBUTIONS TO SHAREHOLDERS^(a)
Decrease in net assets resulting from distributions to shareholders			(1,455,713	)^(b)		(23,380,016	)			(64,409,204	)		(105,154,738	)


CAPITAL SHARE TRANSACTIONS
Net increase (decrease) in net assets derived from capital share transactions			10,403,860			3,625,183				(37,020,035	)		70,469,185


NET ASSETS
Total increase (decrease) in net assets			12,970,686			(10,493,599	)			(125,609,770	)		493,578,997
Beginning of period			97,273,949			107,767,548				4,619,434,796			4,125,855,799


End of period		$	110,244,635		$	97,273,949			$	4,493,825,026		$	4,619,434,796

^(a)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(b)	A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end.

See notes to financial statements.


88		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Statements of Changes in Net Assets (continued)


	iShares MSCI EAFE ETF							iShares MSCI EAFE Small-Cap ETF


	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23			Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23


INCREASE (DECREASE) IN NET ASSETS

OPERATIONS
Net investment income		$	399,672,652		$	1,388,414,350			$	93,331,490		$	308,860,288
Net realized gain (loss)			202,957,577			334,166,170				(99,596,552	)		(42,615,482	)
Net change in unrealized appreciation (depreciation)			378,988,503			5,367,130,331				(149,614,555	)		519,104,892


Net increase (decrease) in net assets resulting from operations			981,618,732			7,089,710,851				(155,879,617	)		785,349,698


DISTRIBUTIONS TO SHAREHOLDERS^(a)
Decrease in net assets resulting from distributions to shareholders			(624,884,738	)		(1,079,699,701	)			(134,857,772	)		(180,867,327	)


CAPITAL SHARE TRANSACTIONS
Net decrease in net assets derived from capital share transactions			(877,571,384	)		(2,449,920,920	)			(919,523,772	)		(530,465,081	)


NET ASSETS
Total increase (decrease) in net assets			(520,837,390	)		3,560,090,230				(1,210,261,161	)		74,017,290
Beginning of period			51,154,301,803			47,594,211,573				11,040,507,440			10,966,490,150


End of period		$	50,633,464,413		$	51,154,301,803			$	9,830,246,279		$	11,040,507,440

^(a)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

See notes to financial statements.


F I N A N C I A L S T A T E M E N T S		89

Financial Highlights

(For a share outstanding throughout each period)


	iShares Currency Hedged MSCI ACWI ex U.S. ETF


	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23				Year Ended 07/31/22				Year Ended 07/31/21				Year Ended 07/31/20				Year Ended 07/31/19


Net asset value, beginning of period		$	28.85			$	29.49			$	32.11			$	25.83			$	26.66			$	26.88


Net investment income^(a)			0.42				0.71				1.04				0.64				0.76				0.88
Net realized and unrealized gain (loss)^(b)			0.25				2.92				(2.63	)			6.25				(0.82	)			(0.43	)


Net increase (decrease) from investment operations			0.67				3.63				(1.59	)			6.89				(0.06	)			0.45


Distributions^(c)
From net investment income			(0.41	)			(0.65	)			(1.03	)			(0.61	)			(0.77	)			(0.67	)
From net realized gain			—				(3.62	)			—				—				—				—


Total distributions			(0.41	)			(4.27	)			(1.03	)			(0.61	)			(0.77	)			(0.67	)


Net asset value, end of period		$	29.11			$	28.85			$	29.49			$	32.11			$	25.83			$	26.66


Total Return^(d)
Based on net asset value			2.31	%^(e)			13.81	%			(5.03	)%			26.76	%			(0.36	)%			1.75	%


Ratios to Average Net Assets^(f)
Total expenses			0.38	%^(g)			0.38	%			0.38	%			0.38	%			0.38	%			0.38	%


Total expenses after fees waived			0.03	%^(g)			0.03	%			0.03	%			0.03	%			0.03	%			0.03	%


Net investment income			2.96	%^(g)			2.55	%			3.33	%			2.12	%			2.90	%			3.37	%


Supplemental Data
Net assets, end of period (000)		$	193,851			$	180,295			$	120,300			$	120,406			$	71,027			$	70,650


Portfolio turnover rate^(h)			6	%			12	%			5	%			10	%			9	%			7	%

^(a)	Based on average shares outstanding.

^(b)	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 transactions in relation to the fluctuating market values of the Fund’s underlying securities.

^(c)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(d)	Where applicable, assumes the reinvestment of distributions.

^(e)	Not annualized.

^(f)	Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

^(g)	Annualized.

^(h)	Portfolio turnover rate excludes in-kind transactions.

See notes to financial statements.


90		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Financial Highlights (continued)

(For a share outstanding throughout each period)


	iShares Currency Hedged MSCI EAFE ETF


	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23			Year Ended 07/31/22			Year Ended 07/31/21			Year Ended 07/31/20			Year Ended 07/31/19


Net asset value, beginning of period		$	30.97		$	32.77		$	34.28		$	26.72		$	29.40		$	29.96


Net investment income^(a)			0.40			0.68			1.47			0.75			0.70			0.86

Net realized and unrealized gain (loss)^(b)			1.24			4.08			(1.59	)		7.55			(1.98	)		(0.20	)


Net increase (decrease) from investment operations			1.64			4.76			(0.12	)		8.30			(1.28	)		0.66


Distributions^(c)

From net investment income			(0.40	)^(d)		(0.67	)		(1.39	)		(0.74	)		(0.73	)		(0.91	)

From net realized gain			—			(5.89	)		—			—			(0.67	)		(0.31	)


Total distributions			(0.40	)		(6.56	)		(1.39	)		(0.74	)		(1.40	)		(1.22	)


Net asset value, end of period		$	32.21		$	30.97		$	32.77		$	34.28		$	26.72		$	29.40


Total Return^(e)
Based on net asset value			5.30	%^(f)		16.89	%		(0.29	)%		31.22	%		(4.74	)%		2.45	%


Ratios to Average Net Assets^(g)
Total expenses			0.38	%^(h)		0.38	%		0.38	%		0.38	%		0.38	%		0.38	%


Total expenses after fees waived			0.03	%^(h)		0.03	%		0.03	%		0.03	%		0.03	%		0.03	%


Net investment income			2.62	%^(h)		2.24	%		4.32	%		2.42	%		2.47	%		3.01	%


Supplemental Data

Net assets, end of period (000)		$	3,934,526		$	3,556,559		$	3,663,639		$	2,838,619		$	2,260,359		$	2,891,083


Portfolio turnover rate⁽ⁱ⁾			7	%		15	%		7	%		12	%		8	%		7	%

^(a)	Based on average shares outstanding.

^(b)	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 transactions in relation to the fluctuating market values of the Fund’s underlying securities.

^(c)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(d)	A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end.

^(e)	Where applicable, assumes the reinvestment of distributions.

^(f)	Not annualized.

^(g)	Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

^(h)	Annualized.

⁽ⁱ⁾	Portfolio turnover rate excludes in-kind transactions.

See notes to financial statements.


F I N A N C I A L H I G H L I G H T S		91

Financial Highlights (continued)

(For a share outstanding throughout each period)


	iShares Currency Hedged MSCI EAFE Small-Cap ETF


	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23				Year Ended 07/31/22				Year Ended 07/31/21				Year Ended 07/31/20				Year Ended 07/31/19


Net asset value, beginning of period		$	28.78			$	32.76			$	36.63			$	26.78			$	28.62			$	31.37


Net investment income^(a)			0.40				0.48				1.37				0.62				0.87				0.84

Net realized and unrealized gain (loss)^(b)			0.62				2.35				(3.91	)			9.78				(1.51	)			(1.93	)


Net increase (decrease) from investment operations			1.02				2.83				(2.54	)			10.40				(0.64	)			(1.09	)


Distributions^(c)

From net investment income			(0.40	)^(d)			(0.47	)			(1.33	)			(0.55	)			(0.88	)			(0.80	)

From net realized gain			—				(6.34	)			—				—				(0.32	)			(0.86	)


Total distributions			(0.40	)			(6.81	)			(1.33	)			(0.55	)			(1.20	)			(1.66	)


Net asset value, end of period		$	29.40			$	28.78			$	32.76			$	36.63			$	26.78			$	28.62


Total Return^(e)
Based on net asset value			3.54	%^(f)			10.67	%			(6.97	)%			38.96	%			(2.62	)%			(3.05	)%


Ratios to Average Net Assets^(g)
Total expenses			0.43	%^(h)			0.43	%			0.43	%			0.43	%			0.43	%			0.43	%


Total expenses after fees waived			0.03	%^(h)			0.03	%			0.03	%			0.03	%			0.03	%			0.03	%


Net investment income			2.84	%^(h)			1.64	%			3.92	%			1.85	%			3.16	%			2.94	%


Supplemental Data

Net assets, end of period (000)		$	110,245			$	97,274			$	107,768			$	98,178			$	44,187			$	25,759


Portfolio turnover rate⁽ⁱ⁾			7	%			17	%			7	%			11	%			9	%			10	%

^(a)	Based on average shares outstanding.

^(b)	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 transactions in relation to the fluctuating market values of the Fund’s underlying securities.

^(c)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(d)	A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end.

^(e)	Where applicable, assumes the reinvestment of distributions.

^(f)	Not annualized.

^(g)	Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

^(h)	Annualized.

⁽ⁱ⁾	Portfolio turnover rate excludes in-kind transactions.

See notes to financial statements.


92		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Financial Highlights (continued)

(For a share outstanding throughout each period)


	iShares MSCI ACWI ex U.S. ETF

	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23				Year Ended 07/31/22				Year Ended 07/31/21				Year Ended 07/31/20				Year Ended 07/31/19


Net asset value, beginning of period		$	51.10			$	46.36			$	56.45			$	45.11			$	46.26			$	48.60


Net investment income^(a)			0.41	^(b)			1.43	^(b)			1.38	^(b)			1.14				1.12				1.32
Net realized and unrealized gain (loss)^(c)			(0.65	)			4.49				(9.73	)			11.31				(0.97	)			(2.49	)


Net increase (decrease) from investment operations			(0.24	)			5.92				(8.35	)			12.45				0.15				(1.17	)


Distributions from net investment income^(d)			(0.71	)			(1.18	)			(1.74	)			(1.11	)			(1.30	)			(1.17	)


Net asset value, end of period		$	50.15			$	51.10			$	46.36			$	56.45			$	45.11			$	46.26


Total Return^(e)
Based on net asset value			(0.44	)%^(b)(f)			12.96	%^(b)			(15.04	)%^(b)			27.66	%			0.29	%			(2.27	)%


Ratios to Average Net Assets^(g)
Total expenses			0.32	%^(h)			0.34	%			0.32	%			0.32	%			0.32	%			0.32	%


Total expenses after fees waived			0.32	%^(h)			0.34	%			0.32	%			0.31	%			0.30	%			0.30	%


Total expenses excluding professional fees for foreign withholding tax claims			0.32	%^(h)			0.32	%			0.32	%			0.32	%			N/A				0.32	%


Net investment income			1.67	%^(b)(h)			3.04	%^(b)			2.62	%^(b)			2.14	%			2.50	%			2.91	%


Supplemental Data
Net assets, end of period (000)		$	4,493,825			$	4,619,435			$	4,125,856			$	4,290,381			$	2,995,541			$	3,867,472


Portfolio turnover rate⁽ⁱ⁾			2	%			5	%			8	%			10	%			17	%			15	%

^(a)	Based on average shares outstanding.

^(b)	Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the six months ended January 31, 2024, the years ended July 31, 2023 and July 31, 2022 respectively:

• Net investment income per share by $0.00, $0.06 and $0.01.

• Total return by 0.00%, 0.12% and 0.02%.

• Ratio of net investment income to average net assets by 0.02%, 0.12% and 0.02%.

^(c)	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 transactions in relation to the fluctuating market values of the Fund’s underlying securities.

^(d)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(e)	Where applicable, assumes the reinvestment of distributions.

^(f)	Not annualized.

^(g)	Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

^(h)	Annualized.

⁽ⁱ⁾	Portfolio turnover rate excludes in-kind transactions.

See notes to financial statements.


F I N A N C I A L H I G H L I G H T S		93

Financial Highlights (continued)

(For a share outstanding throughout each period)


	iShares MSCI EAFE ETF

	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23			Year Ended 07/31/22			Year Ended 07/31/21			Year Ended 07/31/20			Year Ended 07/31/19


Net asset value, beginning of period		$	74.40		$	65.61		$	79.41		$	62.17		$	64.94		$	68.87


Net investment income^(a)			0.59	^(b)		2.00	^(b)		2.09	^(b)		1.90			1.48			1.95
Net realized and unrealized gain (loss)^(c)			0.95			8.37			(12.88	)		17.14			(2.62	)		(3.87	)


Net increase (decrease) from investment operations			1.54			10.37			(10.79	)		19.04			(1.14	)		(1.92	)


Distributions from net investment income^(d)			(0.93	)		(1.58	)		(3.01	)		(1.80	)		(1.63	)		(2.01	)


Net asset value, end of period		$	75.01		$	74.40		$	65.61		$	79.41		$	62.17		$	64.94


Total Return^(e)
Based on net asset value			2.11	%^(b)(f)		15.94	%^(b)		(13.84	)%^(b)		30.73	%		(1.80	)%		(2.64	)%


Ratios to Average Net Assets^(g)
Total expenses			0.32	%^(h)		0.33	%		0.33	%		0.37	%		0.32	%		0.32	%


Total expenses excluding professional fees for foreign withholding tax claims			0.32	%^(h)		0.32	%		0.32	%		0.32	%		0.32	%		0.32	%


Net investment income			1.64	%^(b)(h)		2.96	%^(b)		2.82	%^(b)		2.60	%		2.34	%		3.03	%


Supplemental Data
Net assets, end of period (000)		$	50,633,464		$	51,154,302		$	47,594,212		$	57,269,991		$	46,405,254		$	60,080,634


Portfolio turnover rate⁽ⁱ⁾			1	%		2	%		5	%		5	%		4	%		4	%

^(a)	Based on average shares outstanding.

^(b)	Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the six months ended January 31, 2024, the years ended July 31, 2023 and July 31, 2022 respectively:

• Net investment income per share by $0.00, $0.03 and $0.07.

• Total return by 0.00%, 0.04% and 0.10%.

• Ratio of net investment income to average net assets by 0.00%, 0.04% and 0.09%.

^(c)	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 transactions in relation to the fluctuating market values of the Fund’s underlying securities.

^(d)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(e)	Where applicable, assumes the reinvestment of distributions.

^(f)	Not annualized.

^(g)	Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

^(h)	Annualized.

⁽ⁱ⁾	Portfolio turnover rate excludes in-kind transactions.

See notes to financial statements.


94		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Financial Highlights (continued)

(For a share outstanding throughout each period)


	iShares MSCI EAFE Small-Cap ETF
	Six Months Ended 01/31/24 (unaudited)				Year Ended 07/31/23			Year Ended 07/31/22			Year Ended 07/31/21			Year Ended 07/31/20			Year Ended 07/31/19


Net asset value, beginning of period		$	61.27		$	58.15		$	75.41		$	55.23		$	57.03		$	63.44


Net investment income^(a)			0.54	^(b)		1.65	^(b)		1.70	^(b)		1.39			1.12			1.43
Net realized and unrealized gain (loss)^(c)			(0.67	)		2.47			(16.38	)		20.00			(1.12	)		(6.23	)


Net increase (decrease) from investment operations			(0.13	)		4.12			(14.68	)		21.39			—			(4.80	)


Distributions from net investment income^(d)			(0.83	)		(1.00	)		(2.58	)		(1.21	)		(1.80	)		(1.61	)


Net asset value, end of period		$	60.31		$	61.27		$	58.15		$	75.41		$	55.23		$	57.03


Total Return^(e)
Based on net asset value			(0.16	)%^(b)(f)		7.12	%^(b)		(19.80	)%^(b)		38.84	%		(0.16	)%		(7.41	)%^(g)


Ratios to Average Net Assets^(h)
Total expenses			0.40	%⁽ⁱ⁾		0.40	%		0.39	%		0.39	%		0.40	%		0.40	%


Total expenses excluding professional fees for foreign withholding tax claims			0.40	%⁽ⁱ⁾		0.39	%		0.39	%		0.39	%		N/A			0.40	%


Net investment income			1.87	%^(b)(i)		2.88	%^(b)		2.50	%^(b)		2.03	%		2.01	%		2.47	%


Supplemental Data
Net assets, end of period (000)		$	9,830,246		$	11,040,507		$	10,966,490		$	13,135,610		$	8,527,860		$	9,455,843


Portfolio turnover rate^(j)			6	%		11	%		15	%		17	%		20	%		10	%

^(a)	Based on average shares outstanding.

^(b)	Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the six months ended January 31, 2024, the years ended July 31, 2023 and July 2022 respectively:

• Net investment income per share by $0.00, $0.01 and $0.03.

• Total return by 0.00%, 0.03% and 0.04%.

• Ratio of net investment income to average net assets by 0.00%, 0.02% and 0.04%.

^(c)	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 transactions in relation to the fluctuating market values of the Fund’s underlying securities.

^(d)	Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

^(e)	Where applicable, assumes the reinvestment of distributions.

^(f)	Not annualized.

^(g)	Includes payment received from an affiliate, which had no impact on the Fund’s total return.

^(h)	Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

⁽ⁱ⁾	Annualized.

^(j)	Portfolio turnover rate excludes in-kind transactions.

See notes to financial statements.


F I N A N C I A L H I G H L I G H T S		95

Notes to Financial Statements (unaudited)

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 Classification

Currency Hedged MSCI ACWI ex U.S.		Diversified
Currency Hedged MSCI EAFE		Diversified
Currency Hedged MSCI EAFE Small-Cap		Diversified
MSCI ACWI ex U.S.		Diversified
MSCI EAFE		Diversified
MSCI EAFE Small-Cap		Diversified

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 included in this report and should be read in conjunction with the financial statements of the Funds.

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. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest.

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. However, each of the currency hedged funds has elected to treat realized gains (losses) from certain foreign currency contracts as capital gain (loss) 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 January 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 includes tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

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.


96		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Notes to Financial Statements (unaudited) (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:

•

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.

•

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.

•

Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published NAV.

•

Futures contracts are valued based on that day’s last reported settlement or trade price on the exchange where the contract is traded.

•

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.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange (“NYSE”). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments (“Systematic Fair Value Price”). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

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.

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. 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 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.


N O T E S T O F I N A N C I A L S T A T E M E N T S		97

Notes to Financial Statements (unaudited) (continued)

4.	*SECURITIES AND OTHER INVESTMENTS*

Warrants: Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

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 at Value		Cash Collateral Received	^(a)		Non-Cash Collateral Received, at Fair Value	^(a)		Net Amount


Currency Hedged MSCI EAFE
J.P. Morgan Securities LLC	$	165,959,625	$	(165,959,625	)	$	—		$	—
Morgan Stanley		128,409,619		(128,409,619	)		—			—
SG Americas Securities LLC		106,836,743		(106,836,743	)		—			—
Toronto-Dominion Bank		13,141,752		(13,141,752	)		—			—
Wells Fargo Bank N.A.		12,699,193		(12,699,193	)		—			—


	$	427,046,932	$	(427,046,932	)	$	—		$	—

MSCI ACWI ex U.S.
Barclays Bank PLC	$	208,387	$	(208,387	)	$	—		$	—
Barclays Capital, Inc.		136,096		(136,096	)		—			—
BNP Paribas SA		477,432		(477,432	)		—			—
BofA Securities, Inc.		4,087,751		(4,087,751	)		—			—
Citigroup Global Markets Ltd.		54,130		(54,130	)		—			—
Citigroup Global Markets, Inc.		1,102,766		(1,102,766	)		—			—
Goldman Sachs & Co. LLC		1,163,956		(1,163,956	)		—			—
HSBC Bank PLC		37,559		(37,559	)		—			—
J.P. Morgan Securities LLC		1,234,772		(1,234,772	)		—			—
Morgan Stanley		9,821,717		(9,821,717	)		—			—
SG Americas Securities LLC		479,061		(479,061	)		—			—
State Street Bank & Trust Co.		450,463		(450,463	)		—			—
Toronto-Dominion Bank		84,372		(84,372	)		—			—
UBS AG		188,489		(188,489	)		—			—


	$	19,526,951	$	(19,526,951	)	$	—		$	—


98		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Notes to Financial Statements (unaudited) (continued)




iShares ETF and Counterparty		Securities Loaned at Value		Cash Collateral Received	^(a)		Non-Cash Collateral Received, at Fair Value	^(a)		Net Amount


MSCI EAFE
BNP Paribas SA	$	4,672	$	(4,672	)	$	—		$	—
BofA Securities, Inc.		7,103,852		(7,103,852	)		—			—
Goldman Sachs & Co. LLC		3,936,664		(3,936,664	)		—			—
HSBC Bank PLC		31,200,334		(31,200,334	)		—			—
J.P. Morgan Securities LLC		28,035,750		(28,035,750	)		—			—
Morgan Stanley		38,509,997		(38,509,997	)		—			—
Scotia Capital (USA), Inc.		441,031		(441,031	)		—			—
SG Americas Securities LLC		3,617,506		(3,617,506	)		—			—
State Street Bank & Trust Co.		11,028,712		(11,028,712	)		—			—
Wells Fargo Bank N.A.		163,436		(163,436	)		—			—


	$	124,041,954	$	(124,041,954	)	$	—		$	—

MSCI EAFE Small-Cap
Barclays Bank PLC	$	382,607	$	(382,607	)	$	—		$	—
Barclays Capital, Inc.		18,817,397		(18,817,397	)		—			—
BNP Paribas SA		9,806,001		(9,806,001	)		—			—
BofA Securities, Inc.		13,080,545		(13,080,545	)		—			—
Citigroup Global Markets, Inc.		11,953,870		(11,953,870	)		—			—
Credit Suisse Securities (USA) LLC		145,441		(145,441	)		—			—
Deutsche Bank Securities, Inc.		3		(3	)		—			—
Goldman Sachs & Co. LLC		107,760,988		(107,760,988	)		—			—
HSBC Bank PLC		27,402,274		(27,402,274	)		—			—
J.P. Morgan Securities LLC		40,342,845		(40,342,845	)		—			—
Jefferies LLC		2,079,838		(2,079,838	)		—			—
Macquarie Bank Ltd.		10,687,506		(10,687,506	)		—			—
Morgan Stanley		79,994,391		(79,994,391	)		—			—
National Financial Services LLC		70,215		(70,215	)		—			—
Nomura Securities International, Inc.		1,484,222		(1,484,222	)		—			—
Scotia Capital (USA), Inc.		7,392,046		(7,392,046	)		—			—
SG Americas Securities LLC		408,990		(408,990	)		—			—
State Street Bank & Trust Co.		5,264,623		(5,264,623	)		—			—
UBS AG		7,040,018		(7,040,018	)		—			—
UBS Securities LLC		19		(19	)		—			—
Wells Fargo Securities LLC		38,061		(38,061	)		—			—


	$	344,151,900	$	(344,151,900	)	$	—		$	—

^(a)

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, Inc. (“BlackRock”). BlackRock’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*

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 Funds 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 Funds are 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 Statements 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 Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree 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 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 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.


N O T E S T O F I N A N C I A L S T A T E M E N T S		99

Notes to Financial Statements (unaudited) (continued)

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 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:



iShares ETF	Investment Advisory Fees

Currency Hedged MSCI ACWI ex U.S.		0.38	%
Currency Hedged MSCI EAFE		0.38
Currency Hedged MSCI EAFE Small-Cap		0.43

For its investment advisory services to each of the iShares MSCI ACWI ex U.S. and iShares MSCI EAFE ETFs, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on each 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 $30 billion		0.350	%
Over $30 billion, up to and including $60 billion		0.320
Over $60 billion, up to and including $90 billion		0.280
Over $90 billion, up to and including $120 billion		0.252
Over $120 billion, up to and including $150 billion		0.227
Over $150 billion		0.204


100		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Notes to Financial Statements (unaudited) (continued)

For its investment advisory services to the iShares MSCI EAFE Small-Cap 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 $12 billion		0.4000	%
Over $12 billion, up to and including $18 billion		0.3800
Over $18 billion, up to and including $24 billion		0.3610
Over $24 billion, up to and including $30 billion		0.3430
Over $30 billion		0.3259

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 Currency Hedged MSCI ACWI ex U.S. ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investments in the iShares MSCI ACWI ex U.S. ETF (“ACWX”), after taking into account any fee waivers by ACWX, plus 0.03%.

For the iShares Currency Hedged MSCI EAFE ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investments in the iShares MSCI EAFE ETF (“EFA”), after taking into account any fee waivers by EFA, plus 0.03%.

For the iShares Currency Hedged MSCI EAFE Small-Cap ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investments in the iShares MSCI EAFE Small-Cap ETF (“SCZ”), taking into account any fee waivers by SCZ, plus 0.03%.

For ACWX, BFA has contractually agreed to waive a portion of its investment advisory fees for the Fund through November 30, 2026 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund’s investments in other iShares funds.

These amounts are included in investment advisory fees waived in the Statements of Operations. For the six months ended January 31, 2024, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:



iShares ETF	Amounts Waived

Currency Hedged MSCI ACWI ex U.S.	$	317,366
Currency Hedged MSCI EAFE		6,423,020
Currency Hedged MSCI EAFE Small-Cap		203,895

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.

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. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.

Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment fees. Each Fund retains a portion of 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.


N O T E S T O F I N A N C I A L S T A T E M E N T S		101

Notes to Financial Statements (unaudited) (continued)

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 six months ended January 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:



iShares ETF	Amounts

Currency Hedged MSCI ACWI ex U.S.	$	7,603
Currency Hedged MSCI EAFE		221,162
MSCI ACWI ex U.S.		36,105
MSCI EAFE		95,764
MSCI EAFE Small-Cap		1,032,438

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the six months ended January 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:



iShares ETF	Purchases		Sales		Net Realized Gain (Loss)

MSCI ACWI ex U.S.	$	13,220,411	$	10,143,175	$	(7,747,521	)
MSCI EAFE		195,571,899		84,186,370		(84,304,271	)
MSCI EAFE Small-Cap		225,260,330		232,250,933		79,611,297

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 six months ended January 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:



iShares ETF	Purchases		Sales

Currency Hedged MSCI ACWI ex U.S.	$	14,869,014	$	10,716,926
Currency Hedged MSCI EAFE		336,430,295		244,194,504
Currency Hedged MSCI EAFE Small-Cap		10,553,700		7,473,145
MSCI ACWI ex U.S.		117,997,009		86,467,870
MSCI EAFE		1,089,218,988		665,642,784
MSCI EAFE Small-Cap		671,531,303		568,797,955

For the six months ended January 31, 2024, in-kind transactions were as follows:



iShares ETF	In-kind Purchases		In-kind Sales

Currency Hedged MSCI ACWI ex U.S.	$	11,493,028	$	—
Currency Hedged MSCI EAFE		292,175,709		67,891,478
Currency Hedged MSCI EAFE Small-Cap		12,477,585		2,240,283
MSCI ACWI ex U.S.		30,411,607		119,706,239
MSCI EAFE		—		1,486,686,655
MSCI EAFE Small-Cap		35,375,859		1,076,978,180

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 January 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.


102		2 0 2 4 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S

Notes to Financial Statements (unaudited) (continued)

As of July 31, 2023, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains and qualified late-year losses as follows:



iShares ETF	Non-Expiring Capital Loss Carryforwards			Qualified Late-Year Ordinary Losses

Currency Hedged MSCI ACWI ex U.S.	$	—		$	(12,999,382	)
Currency Hedged MSCI EAFE		—			(366,550,263	)
Currency Hedged MSCI EAFE Small-Cap		—			(15,237,267	)
MSCI ACWI ex U.S.		(565,379,041	)		—
MSCI EAFE		(8,112,401,820	)		—
MSCI EAFE Small-Cap		(549,772,709	)		—

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as “passive foreign investment companies.” Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of January 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		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)

Currency Hedged MSCI ACWI ex U.S.	$	182,173,791	$	18,804,164	$	(3,146,381	)	$	15,657,783
Currency Hedged MSCI EAFE		4,008,280,087		507,627,235		(60,655,962	)		446,971,273
Currency Hedged MSCI EAFE Small-Cap		110,204,905		4,887,191		(2,242,663	)		2,644,528
MSCI ACWI ex U.S.		4,332,188,289		873,487,704		(699,574,101	)		173,913,603
MSCI EAFE		44,445,007,571		14,656,421,384		(8,424,166,573	)		6,232,254,811
MSCI EAFE Small-Cap		11,435,409,910		1,134,884,420		(2,435,287,550	)		(1,300,403,130	)

9.	*LINE OF CREDIT*

The iShares Currency Hedged MSCI EAFE ETF and iShares MSCI ACWI ex U.S. ETF, along with certain other iShares funds (“Participating Funds”), are parties to a $800 million credit agreement (“Syndicated Credit Agreement”) with a group of lenders, which expires on October 16, 2024. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) Daily Simple Secured Overnight Financing Rate (“SOFR”) plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

During the six months ended January 31, 2024, the iShares Currency Hedged MSCI EAFE ETF did not borrow under the Syndicated Credit Agreement.

For the six months ended January 31, 2024, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:



iShares ETF	Maximum Amount Borrowed		Average Borrowing		Weighted Average Interest Rates

MSCI ACWI ex U.S.	$	7,230,000	$	363,332		6.43	%

10.

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 redemption gates or liquidity fees under certain circumstances.

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


N O T E S T O F I N A N C I A L S T A T E M E N T S		103

Notes to Financial Statements (unaudited) (continued)

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.

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. 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.

With exchange-traded futures, there is less counterparty credit risk to the Funds 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, a 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 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.

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.


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Notes to Financial Statements (unaudited) (continued)

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.

11.

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:




	Six Months Ended 01/31/24						Year Ended 07/31/23


iShares ETF	Shares			Amount			Shares			Amount


Currency Hedged MSCI ACWI ex U.S.
Shares sold		410,000		$	11,609,597			2,370,000		$	64,248,699
Shares redeemed		—			—			(200,000	)		(5,885,665	)


		410,000		$	11,609,597			2,170,000		$	58,363,034


Currency Hedged MSCI EAFE
Shares sold		9,550,000		$	292,122,531			26,450,000		$	792,872,009
Shares redeemed		(2,250,000	)		(67,714,823	)		(23,400,000	)		(750,652,250	)


		7,300,000		$	224,407,708			3,050,000		$	42,219,759


Currency Hedged MSCI EAFE Small-Cap
Shares sold		450,000		$	12,683,882			1,270,000		$	36,532,479
Shares redeemed		(80,000	)		(2,280,022	)		(1,180,000	)		(32,907,296	)


		370,000		$	10,403,860			90,000		$	3,625,183


MSCI ACWI ex U.S.
Shares sold		2,200,000		$	109,641,014			6,200,000		$	283,860,289
Shares redeemed		(3,000,000	)		(146,661,049	)		(4,800,000	)		(213,391,104	)


		(800,000	)	$	(37,020,035	)		1,400,000		$	70,469,185


MSCI EAFE
Shares sold		8,400,000		$	616,842,357			11,400,000		$	803,713,926
Shares redeemed		(21,000,000	)		(1,494,413,741	)		(49,200,000	)		(3,253,634,846	)


		(12,600,000	)	$	(877,571,384	)		(37,800,000	)	$	(2,449,920,920	)


MSCI EAFE Small-Cap
Shares sold		2,800,000		$	167,940,620			5,200,000		$	266,170,873
Shares redeemed		(20,000,000	)		(1,087,464,392	)		(13,600,000	)		(796,635,954	)


		(17,200,000	)	$	(919,523,772	)		(8,400,000	)	$	(530,465,081	)

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 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.

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.

12.

FOREIGN WITHHOLDING TAX CLAIMS

The iShares MSCI EAFE ETF has filed claims to recover taxes withheld by Sweden on dividend income based upon certain provisions in the Treaty on the Functioning of the European Union. The Fund has recorded receivables for all recoverable taxes withheld by Sweden based upon previous determinations made by the Swedish tax authorities. Professional and other fees associated with the filing of these claims for foreign withholding taxes have been approved by the Board as appropriate expenses of the Fund. Swedish tax claim receivables and related liabilities are disclosed in the statements of assets and liabilities. Collection of these receivables, and any payment of associated liabilities, depends upon future determinations made by the Swedish tax authorities, the outcome of which is uncertain. If such future determinations are unfavorable, the potential negative impact to the Fund, as of January 31, 2024, is $36,845,379 or $0.05 per share.

The Internal Revenue Service (“IRS”) has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which each of the iShares MSCI ACWI ex U.S. ETF and iShares MSCI EAFE ETF is able to pass through to shareholders as a foreign tax credit in the current year, each of the Funds will be able to offset the prior years’ withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Funds.


N O T E S T O F I N A N C I A L S T A T E M E N T S		105

Notes to Financial Statements (unaudited) (continued)

The iShares MSCI EAFE ETF is seeking a closing agreement with the Internal Revenue Service (“IRS”) to address any prior years’ U.S. income tax liabilities attributable to Fund shareholders resulting from the recovery of foreign taxes. The closing agreement would result in the Fund paying a compliance fee to the IRS, on behalf of its shareholders, representing the estimated tax savings generated from foreign tax credits claimed by Fund shareholders on their tax returns in prior years. The Fund has accrued a liability for the estimated IRS compliance fee related to foreign withholding tax claims, which is disclosed in the Statements of Assets and Liabilities. The actual IRS compliance fee may differ from the estimate and that difference may be material.

13.

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.


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Statement Regarding Liquidity Risk Management Program (unaudited)

In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), iShares Trust (the “Trust”) has adopted and implemented a liquidity risk management program (the “Program”) for iShares Currency Hedged MSCI ACWI ex U.S. ETF, iShares Currency Hedged MSCI EAFE ETF, iShares Currency Hedged MSCI EAFE Small-Cap ETF, iShares MSCI ACWI ex U.S. ETF, iShares MSCI EAFE ETF and iShares MSCI EAFE Small-Cap ETF (the “Funds” or “ETFs”), each a series of the Trust, which is reasonably designed to assess and manage each Fund’s liquidity risk.

The Board of Trustees (the “Board”) of the Trust, on behalf of the Funds, met on December 8, 2023 (the “Meeting”) to review the Program. The Board previously appointed BlackRock Fund Advisors (“BlackRock”), the investment adviser to the Funds, as the program administrator for each Fund’s Program. BlackRock also previously delegated oversight of the Program to the 40Act Liquidity Risk Management Committee (the “Committee”). At the Meeting, the Committee, on behalf of BlackRock, provided the Board with a report that addressed the operation of the Program and assessed its adequacy and effectiveness of implementation, including the management of each Fund’s Highly Liquid Investment Minimum (“HLIM”) where applicable, and any material changes to the Program (the “Report”). The Report covered the period from October 1, 2022 through September 30, 2023 (the “Program Reporting Period”).

The Report described the Program’s liquidity classification methodology for categorizing each Fund’s investments (including derivative transactions) into one of four liquidity buckets. It also referenced the methodology used by BlackRock to establish each Fund’s HLIM and noted that the Committee reviews and ratifies the HLIM assigned to each Fund no less frequently than annually. The Report also discussed notable events affecting liquidity over the Program Reporting Period, including extended market holidays, delays in the repatriation of the local currency in certain non-U.S. countries, the continued illiquidity of Russian equity securities and the suspension of select sanctions in Venezuela.

The Report noted that the Program complied with the key factors for consideration under the Liquidity Rule for assessing, managing and periodically reviewing each Fund’s liquidity risk, as follows:

The Fund’s investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions. During the Program Reporting Period, the Committee reviewed whether each Fund’s strategy is appropriate for an open-end fund structure, with a focus on funds with more significant and consistent holdings of less liquid and illiquid assets. The Committee also factored a fund’s concentration in an issuer into the liquidity classification methodology by taking issuer position sizes into account. Derivative exposure was also considered in the calculation of a fund’s liquidity bucketing. Finally, a factor for consideration under the Liquidity Rule is a Fund’s use of borrowings for investment purposes. However, the Funds do not borrow for investment purposes.

Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions. During the Program Reporting Period, the Committee reviewed historical redemption activity and used this information as a component to establish each ETF’s reasonably anticipated trading size utilized for liquidity classifications. The Committee may also take into consideration a fund’s shareholder ownership concentration (which, depending on product type and distribution channel, may or may not be available), a fund’s distribution channels, and the degree of certainty associated with a fund’s short-term and long-term cash flow projections.

Holdings of cash and cash equivalents, as well as borrowing arrangements. The Committee considered that ETFs generally do not hold more than de minimis amounts of cash. The Committee also considered that ETFs generally do not engage in borrowing.

The relationship between an ETF’s portfolio liquidity and the way in which, and the prices and spreads at which, ETF shares trade, including the efficiency of the arbitrage function and the level of active participation by market participants, including authorized participants. The Committee monitored the prevailing bid/ask spread and the ETF price premium (or discount) to NAV for all ETFs. However, there were no ETFs with persistent deviations of fund premium/discount or bid/ask spreads from long-term averages over the Program Reporting Period.

The effect of the composition of baskets on the overall liquidity of an ETF’s portfolio. In reviewing the linkage between the composition of custom baskets accepted by an ETF and any significant change in the liquidity profile of such ETF, the Committee reviewed changes in the proportion of each ETF’s portfolio comprised of less liquid and illiquid holdings to determine if applicable thresholds were met requiring enhanced review. There were no ETFs for which the custom baskets accepted by the ETF had a significant change in its liquidity profile.

There were no material changes to the Program during the Program Reporting Period other than the enhancement of certain model components in the Program’s classification methodology. The Report provided to the Board stated that the Committee concluded that based on the operation of the functions, as described in the Report, the Program is operating as intended and is effective in implementing the requirements of the Liquidity Rule.


S T A T E M E N T R E G A R D I N G L I Q U I D I T Y R I S K M A N A G E M E N T P R O G R A M		107

Supplemental Information (unaudited)

Section 19(a) Notices

The amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.

January 31, 2024



	Total Cumulative Distributions for the Fiscal Year-to-Date								% Breakdown of the Total Cumulative Distributions for the Fiscal Year-to-Date


iShares ETF	Net Investment Income		Net Realized Capital Gains		Return of Capital		Total Per Share		Net Investment Income			Net Realized Capital Gains			Return of Capital			Total Per Share

Currency Hedged MSCI EAFE^(a)	$	0.396091	$	—	$	0.000259	$	0.396350		100	%		—	%		0	%^(b)		100	%
Currency Hedged MSCI EAFE Small-Cap^(a)		0.400781		—		0.000242		0.401023		100			—			0	^(b)		100

^(a)

The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share.

^(b)

Rounds to less than 1%.

Tailored Shareholder Reports for Open-End Mutual Funds and ETFs

Effective January 24, 2023, the SEC adopted rule and form amendments to require open-end mutual funds and ETFs to transmit concise and visually engaging streamlined annual and semiannual reports to shareholders that highlight key information. Other information, including financial statements, will no longer appear in a streamlined shareholder report but must be available online, delivered free of charge upon request, and filed on a semiannual basis on Form N-CSR. The rule and form amendments have a compliance date of July 24, 2024. At this time, management is evaluating the impact of these amendments on the shareholder reports for the Funds.


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General Information

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:

•

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.

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 and Rule 30e-3 notices 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.

Availability of Quarterly Schedule of Investments

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.

Availability of Proxy Voting Policies and Proxy Voting Records

A description of the policies and procedures that the iShares Funds use to determine how to vote proxies relating to portfolio securities and information about how the iShares Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request (1) by calling toll-free 1-800-474-2737; (2) on the iShares website at iShares.com; and (3) on the SEC website at sec.gov.

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 at iShares.com.


G E N E R A L I N F O R M A T I O N		109

Glossary of Terms Used in this Report


Currency Abbreviation

AUD		Australian Dollar

BRL		Brazilian Real

CAD		Canadian Dollar

CHF		Swiss Franc

CLP		Chilean Peso

CNH		Chinese Yuan

CNY		Chinese Yuan

DKK		Danish Krone

EUR		Euro

GBP		British Pound

HKD		Hong Kong Dollar

IDR		Indonesian Rupiah

ILS		Israeli Shekel

INR		Indian Rupee

JPY		Japanese Yen

KRW		South Korean Won

MXN		Mexican Peso

MYR		Malaysian Ringgit

NOK		Norwegian Krone

NZD		New Zealand Dollar

SEK		Swedish Krona

SGD		Singapore Dollar

THB		Thai Baht

TRY		Turkish Lira

TWD		New Taiwan Dollar

USD		United States Dollar

ZAR		South African Rand

Portfolio Abbreviation

ADR		American Depositary Receipt

GDR		Global Depositary Receipt

JSC		Joint Stock Company

NVDR		Non-Voting Depositary Receipt

NVS		Non-Voting Shares

PJSC		Public Joint Stock Company

REIT		Real Estate Investment Trust

SDR		Swedish Depositary Receipt


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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 MSCI Inc., 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.

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