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OCTOBER 31, 2022 |
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2022 Annual Report |
iShares Trust
· iShares 0-5 Year Investment Grade Corporate Bond ETF | SLQD | NASDAQ
· iShares Aaa - A Rated Corporate Bond ETF | QLTA | NYSE Arca
· iShares BB Rated Corporate Bond ETF | HYBB | NYSE Arca
· iShares Convertible Bond ETF | ICVT | Cboe BZX
· iShares Floating Rate Bond ETF | FLOT | Cboe BZX
· iShares USD Green Bond ETF | BGRN | NASDAQ
Dear Shareholder,
Significant economic headwinds emerged during the 12-month reporting period ended October 31, 2022, disrupting the economic recovery and strong financial markets of 2021. The U.S. economy shrank in the first half of 2022 before returning to moderate growth in the third quarter, marking a shift to a more challenging post-reopening economic environment. Changes in consumer spending patterns and a tight labor market led to elevated inflation, which reached a 40-year high. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the ongoing war continued to present challenges for both investors and policymakers.
Equity prices fell as interest rates rose, particularly weighing on relatively high-valuation growth stocks as inflation decreased the value of future cash flows and investors shifted focus to balance sheet resilience. Both large- and small-capitalization U.S. stocks fell, although declines for small-capitalization U.S. stocks were slightly steeper. Emerging market stocks and international equities from developed markets also declined significantly, pressured by rising interest rates and a strengthening U.S. dollar.
The 10-year U.S. Treasury yield rose notably during the reporting period, driving its price down, as investors reacted to higher inflation and attempted to anticipate its impact on future interest rate changes. The corporate bond market also faced inflationary headwinds, and increasing uncertainty led to higher corporate bond spreads (the difference in yield between U.S. Treasuries and similarly-dated corporate bonds).
The U.S. Federal Reserve (the “Fed”), acknowledging that inflation has been more persistent than expected, raised interest rates five times while indicating that additional rate hikes were likely. Furthermore, the Fed wound down its bond-buying programs and is accelerating the reduction of its balance sheet. As investors attempted to assess the Fed’s future trajectory, the Fed’s statements late in the reporting period led markets to believe that additional tightening is likely in the near term.
The pandemic’s restructuring of the economy brought an ongoing mismatch between supply and demand, contributing to the current inflationary regime. While growth has slowed in 2022, we believe that taming inflation requires a more dramatic economic decline to bring demand back to a lower level that is more in line with the economy’s capacity. The Fed has been raising interest rates at the fastest pace in decades, and seems set to overtighten in its effort to get inflation back to target. With this in mind, we believe the possibility of a U.S. recession in the near-term is high, and the outlook for Europe and the U.K. is also troubling. Investors should expect a period of higher volatility as markets adjust to the new economic reality and policymakers attempt to adapt to rapidly changing conditions.
In this environment, while we favor an overweight to equities in the long-term, the market’s concerns over excessive rate hikes from central banks moderate our outlook. Rising input costs and a deteriorating economic backdrop in China and Europe are likely to challenge corporate earnings, so we are underweight equities overall in the near term. However, we see better opportunities in credit, where higher spreads provide income opportunities and partially compensate for inflation risk. We believe that investment-grade corporates, local-currency emerging market debt, and inflation-protected bonds (particularly in Europe) offer strong opportunities for a six- to twelve-month horizon.
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.
Rob Kapito
President, BlackRock, Inc.
Rob Kapito
President, BlackRock, Inc.
Total Returns as of October 31, 2022
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||||||||
6-Month | 12-Month | |||||||
U.S.
large cap equities |
(5.50)% | (14.61)% | ||||||
U.S.
small cap equities |
(0.20) | (18.54) | ||||||
International
equities |
(12.70) | (23.00) | ||||||
Emerging
market equities |
(19.66) | (31.03) | ||||||
3-month
Treasury bills |
0.72 | 0.79 | ||||||
U.S.
Treasury securities |
(8.24) | (17.68) | ||||||
U.S.
investment grade bonds |
(6.86) | (15.68) | ||||||
Tax-exempt
municipal bonds |
(4.43) | (11.98) | ||||||
U.S.
high yield bonds |
(4.71) | (11.76) | ||||||
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
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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 |
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iShares Trust
U.S. Bond Market Overview
The U.S. bond market experienced a considerable decline for the 12 months ended October 31, 2022 (the “reporting period”). The Bloomberg U.S. Aggregate Bond Index, a broad measure of U.S. fixed-income performance, returned -15.68%.
The U.S. Federal Reserve’s (Fed’s) shift toward tighter monetary policy was the primary factor driving the market downturn. Annualized consumer price inflation, which had been under 3.0% for over a decade, began to rise throughout 2021 and ultimately climbed above 6.0% in the year’s fourth calendar quarter. The inflation picture soon grew even more challenging following Russia’s invasion of Ukraine in early 2022, which—together with the resulting sanctions—further snarled global supply chains and contributed to a spike in energy prices. Inflation exceeded 8.0% in March 2022 and remained above that level through the end of the reporting period, with a peak of 9.1% in June.
The Fed moved aggressively in an effort to calm price pressures, ending its stimulative quantitative easing program and boosting interest rates from a range of 0.0%-0.25% to 3.0-3.25% in five separate increases from March to September 2022. This marked the largest move in such a short interval since 1980. In addition, the Fed appeared set to continue raising rates until inflation showed signs of returning closer to its longer-term target of 2%. Some evidence began to emerge later in the period that the Fed’s rate hikes had begun to reduce activity in certain segments of the economy, but there was still no sign that consumer price inflation had started to decline in a meaningful fashion. As a result, market prices at the end of October indicated that the central bank would not stop tightening until rates reached the 4.5-5.0% range.
These circumstances weighed heavily on bond market performance. The yield on the two-year U.S. Treasury note rose from 0.50% at the beginning of the period to 4.48% by the end of October 2022, while the 10-year yield climbed from 1.55% to 4.05%. The yield curve inverted significantly as result, meaning that short-term yields were higher those on longer-term debt. In late September, the yield curve moved to its largest inversion since 1982.
The surge in U.S. Treasury yields, together with investors’ increased aversion to risk, fueled weakness across all sectors of the bond market. Mortgage-backed securities, which were hurt by concerns about the housing market and the loss of demand stemming from Fed’s decision to end its quantitative easing policy, posted negative returns. Still, the category held up better than the broader index.
Investment-grade corporate bonds were among the worst-performing segments of the market. In addition to being adversely affected by rising Treasury yields, the asset class was pressured by a pronounced increase in yield spreads. The latter trend reflected concerns that weaker economic growth could lead to a slowdown in corporate earnings. Notably, the yield on corporate bonds—as gauged by the ICE BofA US Corporate Index—closed the period at the highest level since 2009.
High yield bonds also experienced sizable losses. As was the case with investment-grade corporates, a rise in both prevailing yields and yield spreads weighed heavily on performance. However, the category outperformed the investment-grade market due to its lower interest-rate sensitivity and higher weighting in the energy sector. Higher-rated issuers in the category—which are seen as having the least vulnerability to slowing growth—generally outperformed their lower-quality counterparts.
4 |
2 0 2 2 I S H A R E S 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 |
Fund Summary as of October 31, 2022 | iShares® 0-5 Year Investment Grade Corporate Bond ETF |
Investment Objective
The iShares 0-5 Year Investment Grade Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, investment-grade corporate bonds with remaining maturities of less than five years, as represented by the Markit iBoxx USD Liquid Investment Grade 0-5 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 | |||||||||||||||||||||||||||
1 Year | 5 Years |
Since Inception |
1 Year | 5 Years |
Since Inception |
|||||||||||||||||||||||
Fund NAV |
(6.35 | )% | 0.93 | % | 1.33 | % | (6.35 | )% | 4.73 | % | 12.70 | % | ||||||||||||||||
Fund Market |
(6.29 | ) | 0.93 | 1.34 | (6.29 | ) | 4.74 | 12.81 | ||||||||||||||||||||
Index |
(6.36 | ) | 0.97 | 1.42 | (6.36 | ) | 4.92 | 13.60 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was October 15, 2013. The first day of secondary market trading was October 17, 2013.
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 | |||||||||||||||||||||||||||||||||||
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Beginning Account Value (05/01/22 |
) |
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Ending Account Value (10/31/22 |
) |
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22 |
) |
|
Ending Account Value (10/31/22 |
) |
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||||||
$ 1,000.00 | $ 979.30 | $ 0.30 | $ 1,000.00 | $ 1,024.90 | $ 0.31 | 0.06 | % |
(a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (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. |
F U N D S U M M A R Y |
5 |
Fund Summary as of October 31, 2022 (continued) | iShares® 0-5 Year Investment Grade Corporate Bond ETF |
Portfolio Management Commentary
All major segments of the fixed-income market, including high quality corporate bonds, experienced negative returns over the 12-month period, as hawkish monetary policy and rising Treasury yields weighed on performance.
Entering the period, U.S. inflation was already running well above the 2% target of the U.S. Federal Reserve (Fed). Inflation would spike in the wake of Russia’s late-February invasion of Ukraine, which exacerbated ongoing supply-chain pressures and led to sharply higher commodity prices. Consumer price inflation rose by at least 7.5% on a year-over-year basis in each of the first nine months of 2022, hitting a peak of 9.1% in June. In response, the Fed aggressively raised its benchmark overnight lending rate, bringing the Fed funds target to a range of 3.0% to 3.25%, as compared to 0% to 0.25% at the start of 2022. In addition, the market anticipated significant further rate increases from the Fed in the coming months.
The U.S. Treasury yield curve moved dramatically higher in response to the Fed’s policy tightening, with the two-year yield moving from 0.50% to 4.48% over the 12 months, an increase of 398 basis points. Longer-term Treasury yields, which are less directly influenced by changes in Fed funds, rose to a more moderate degree, as reflected in the bellwether 10-year note yield which increased from 1.55% to 4.05%, or 250 basis points. As a result, short-term Treasury yields were higher than long-term yields at the end of the period, raising concerns that the economy was on the verge of recession.
Returns for investment grade corporate bonds with maturities of five years or less held up better than for their longer-term counterparts but were nonetheless negative for the reporting period, as both rising Treasury yields and widening credit spreads had a negative impact on performance. In terms of credit quality, lower-rated issues in the Moody’s A and Baa rating categories accounted for the great majority of the negative return for the Index, primarily due to their significant weights within the Index. In terms of maturities, more interest rate-sensitive bonds with maturities closest to five years weighed most heavily on performance given the rise in Treasury yields seen during the period.
Portfolio Information
CREDIT QUALITY ALLOCATION | ||||
Moody’s Credit Rating* |
|
Percent of Total Investments |
(a) | |
Aaa |
2.6 | % | ||
Aa |
4.8 | |||
A |
49.2 | |||
Baa |
41.3 | |||
Ba |
1.0 | |||
Not Rated |
1.1 |
MATURITY ALLOCATION | ||||
Maturity |
|
Percent of Total Investments |
(a) | |
0-1 Year |
13.3 | % | ||
1-5 Years |
85.2 | |||
5-10 Years |
1.5 |
* |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) |
Excludes money market funds. |
6 |
2 0 2 2 I S H A R E S 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 |
Fund Summary as of October 31, 2022 | iShares® Aaa - A Rated Corporate Bond ETF |
Investment Objective
The iShares Aaa - A Rated Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of Aaa to A, or equivalently rated, fixed rate U.S. dollar-denominated bonds issued by U.S. and non-U.S. corporations, as represented by the Bloomberg U.S. Corporate Aaa - A Capped 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 | |||||||||||||||||||||||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | |||||||||||||||||||||||
Fund NAV |
(18.93 | )% | (0.70 | )% | 0.98 | % | (18.93 | )% | (3.45 | )% | 10.24 | % | ||||||||||||||||
Fund Market |
(18.86 | ) | (0.72 | ) | 0.92 | (18.86 | ) | (3.53 | ) | 9.58 | ||||||||||||||||||
Index |
(18.84 | ) | (0.58 | ) | 1.11 | (18.84 | ) | (2.88 | ) | 11.67 |
GROWTH OF $10,000 INVESTMENT
(AT NET ASSET VALUE)
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 | |||||||||||||||||||||||||||||
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|
|
|
|||||||||||||||||||||||||||
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ 1,000.00 | $ 922.90 | $ 0.73 | $ 1,000.00 | $ 1,024.40 | $ 0.77 | 0.15 | % |
(a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (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. |
F U N D S U M M A R Y |
7 |
Fund Summary as of October 31, 2022 (continued) | iShares® Aaa - A Rated Corporate Bond ETF |
Portfolio Management Commentary
All major segments of the fixed-income market, including high quality corporate bonds, experienced steeply negative returns over the 12-month period, as hawkish monetary policy and rising Treasury yields weighed on performance.
Entering the period, U.S. inflation was already running well above the 2% target of the U.S. Federal Reserve (Fed). Inflation would spike in the wake of Russia’s late-February invasion of Ukraine, which exacerbated ongoing supply-chain pressures and led to sharply higher commodity prices. Consumer price inflation rose by at least 7.5% on a year-over-year basis in each of the first nine months of 2022, hitting a peak of 9.1% in June. In response, the Fed aggressively raised its benchmark overnight lending rate, bringing the Fed funds target to a range of 3.0% to 3.25%, as compared to 0% to 0.25% at the start of 2022. In addition, the market anticipated significant further rate increases from the Fed in the coming months.
The U.S. Treasury yield curve moved dramatically higher in response to the Fed’s policy tightening, with the two-year yield moving from 0.50% to 4.48% over the 12 months, an increase of 398 basis points. Longer-term Treasury yields, which are less directly influenced by changes in Fed funds, rose to a more moderate degree, as reflected in the bellwether 10-year note yield which increased from 1.55% to 4.05%, or 250 basis points. As a result, short-term Treasury yields were higher than long-term yields at the end of the period, raising concerns that the economy was on the verge of recession.
Returns for corporate bonds rated Aaa to A were notably negative for the reporting period. While A-rated bonds actually slightly outperformed their higher quality counterparts, the segment accounted for the majority of the Index’s negative return due to its heavy weight within the Index. In terms of maturities, more interest rate sensitive bonds with maturities of greater than 10 years weighed most heavily on performance given the rise in Treasury yields seen during the period.
Portfolio Information
MATURITY ALLOCATION | ||||
Maturity |
|
Percent of Total Investments |
(a) | |
1-5 Years |
40.3 | % | ||
5-10 Years |
26.2 | |||
10-15 Years |
5.8 | |||
15-20 Years |
7.0 | |||
More than 20 Years |
20.7 |
TEN LARGEST HOLDINGS | ||||
Security |
|
Percent of Total Investments |
(a) | |
Microsoft Corp., 2.92%, 03/17/52 |
0.2 | % | ||
Microsoft Corp., 2.53%, 06/01/50 |
0.2 | |||
Amazon.com Inc., 3.15%, 08/22/27 |
0.2 | |||
Apple Inc., 3.25%, 02/23/26 |
0.2 | |||
Wells Fargo & Co., 5.01%, 04/04/51 |
0.2 | |||
Microsoft Corp., 3.30%, 02/06/27 |
0.2 | |||
Apple Inc., 4.65%, 02/23/46 |
0.2 | |||
Comcast Corp., 2.94%, 11/01/56 |
0.2 | |||
Visa Inc., 3.15%, 12/14/25 |
0.1 | |||
Shell International Finance BV, 6.38%, 12/15/38 |
0.1 |
(a) |
Excludes money market funds. |
8 |
2 0 2 2 I S H A R E S 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 |
Fund Summary as of October 31, 2022 | iShares® BB Rated Corporate Bond ETF |
Investment Objective
The iShares BB Rated Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of BB (or its equivalent) fixed rate U.S. dollar-denominated bonds issued by U.S. and non-U.S. corporate issuers, as represented by the ICE BofA BB US High Yield Constrained 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 | |||||||||||||||
|
|
|
|
| ||||||||||||
1 Year |
Since Inception |
1 Year |
Since Inception |
|||||||||||||
Fund NAV |
(11.30 | )% | (2.11 | )% | (11.30 | )% | (4.32 | )% | ||||||||
Fund Market |
(11.24 | ) | (2.00 | ) | (11.24 | ) | (4.10 | ) | ||||||||
Index |
(11.12 | ) | (1.90 | ) | (11.12 | ) | (3.89 | ) |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was October 6, 2020. The first day of secondary market trading was October 8, 2020.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ 1,000.00 | $ 965.20 | $ 0.74 | $ 1,000.00 | $ 1,024.40 | $ 0.77 | 0.15 | % |
(a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (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. |
F U N D S U M M A R Y |
9 |
Fund Summary as of October 31, 2022 (continued) | iShares® BB Rated Corporate Bond ETF |
Portfolio Management Commentary
High-yield bonds, including those rated BB, lost considerable ground in the annual period. A surge in inflation prompted the U.S. Federal Reserve (Fed) to tighten monetary policy by winding down its stimulative quantitative easing program and beginning to raise interest rates. The Fed hiked rates by a total of three percentage points over the 12-month period, bringing the benchmark Fed funds rate to a range of 3.0% to 3.25%.
High yield bonds were also pressured by rising spreads relative to U.S. Treasuries. At their peak in early July, spreads stood at their highest level in nearly two years. The spread widening was the result of an increase investor risk aversion that was driven, in part, by Russia’s invasion of Ukraine and elevated volatility in the equity market. In addition, investors became more cautious on corporate credit given the prospect of slowing economic growth and a concurrent downturn in corporate earnings in 2023. High yield bond funds experienced significant outflows as a result, further weighing on prices.
Returns for corporate bonds rated BB or the equivalent were notably negative for the reporting period. However, BB-rated bonds outperformed their higher quality, investment grade counterparts due to their lower interest rate sensitivity in a rising rate environment. That said, within the Index performance was weakest for bonds with maturities of greater than 10 years, followed by the 7-10 year maturity range. From a sector perspective, Financial issuers underperformed while Energy issuers outperformed.
Portfolio Information
MATURITY ALLOCATION | ||||
Maturity |
|
Percent of Total Investments |
(a) | |
1-5 Years |
36.1 | % | ||
5-10 Years |
55.5 | |||
10-15 Years |
2.7 | |||
15-20 Years |
1.6 | |||
More than 20 Years |
4.1 |
TEN LARGEST HOLDINGS | ||||
Security |
|
Percent of Total Investments |
(a) | |
American Airlines Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/26 | 0.6 | % | ||
Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 | 0.6 | |||
American Airlines Inc./AAdvantage Loyalty IP Ltd., 5.75%, 04/20/29 | 0.5 | |||
Sprint Capital Corp., 6.88%, 11/15/28 | 0.4 | |||
Sprint Capital Corp., 8.75%, 03/15/32 | 0.4 | |||
Tenet Healthcare Corp., 4.88%, 01/01/26 | 0.3 | |||
Sprint Corp., 7.13%, 06/15/24 | 0.3 | |||
Carnival Corp., 4.00%, 08/01/28 | 0.3 | |||
Tenet Healthcare Corp., 6.13%, 06/15/30 | 0.3 | |||
United Airlines Inc., 4.38%, 04/15/26 | 0.3 |
(a) |
Excludes money market funds. |
10 |
2 0 2 2 I S H A R E S 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 |
Fund Summary as of October 31, 2022 | iShares® Convertible Bond ETF |
Investment Objective
The iShares Convertible Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated convertible securities, specifically cash pay bonds, with outstanding issue sizes greater than $250 million, as represented by the Bloomberg U.S. Convertible Cash Pay Bond>$250MM 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 | |||||||||||||||||||||||||||
1 Year | 5 Years |
Since Inception |
1 Year | 5 Years |
Since Inception |
|||||||||||||||||||||||
Fund NAV |
(25.08 | )% | 9.42 | % | 8.80 | % | (25.08 | )% | 56.85 | % | 86.93 | % | ||||||||||||||||
Fund Market |
(25.36 | ) | 9.30 | 8.76 | (25.36 | ) | 55.98 | 86.44 | ||||||||||||||||||||
Index |
(24.87 | ) | 9.96 | 9.35 | (24.87 | ) | 60.77 | 93.96 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was June 2, 2015. The first day of secondary market trading was June 4, 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 | |||||||||||||||||||||||||||||
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|
|
|
|||||||||||||||||||||||||||
|
Beginning Account Value (05/01/22) |
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Ending Account Value (10/31/22 |
) |
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22 |
) |
|
Ending Account Value (10/31/22 |
) |
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ 1,000.00 | $ 922.00 | $ 0.97 | $ 1,000.00 | $ 1,024.20 | $ 1.02 | 0.20 | % |
(a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (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. |
F U N D S U M M A R Y |
11 |
Fund Summary as of October 31, 2022 (continued) | iShares® Convertible Bond ETF |
Portfolio Management Commentary
U.S. dollar-denominated convertible bonds experienced significant declines over the reporting period. Convertible bonds are hybrid securities that have features of both debt and equity. The bonds represented in the Index pay interest on a periodic basis, similar to standard corporate bonds, but they also have an equity conversion feature and can be redeemed for shares of the issuer’s stock. Due to their convertibility feature, these securities advance or decline with stocks but with less volatility given their fixed-income component.
Entering the period, U.S. inflation was already running well above the 2% target of the U.S. Federal Reserve (Fed). Inflation would spike in the wake of Russia’s late-February invasion of Ukraine, which exacerbated ongoing supply-chain pressures and led to sharply higher commodity prices. Consumer price inflation rose by at least
7.5% on a year-over-year basis in each of the first nine months of 2022, hitting a peak of 9.1% in June. In response, the Fed aggressively raised its benchmark overnight lending rate, bringing the Fed funds target to a range of 3.0% to 3.25%, as compared to 0% to 0.25% at the start of 2022. In addition, the market anticipated significant further rate increases from the Fed in the coming months. The U.S. Treasury yield curve moved dramatically higher in response to the Fed’s policy tightening,
Convertible securities experienced a sizable downturn beginning late in the first quarter of 2022 and extending into the second quarter, in keeping with the direction across the financial markets. Investor risk sentiment weakened dramatically on tighter Fed policy, recession fears, and the war in Ukraine. Additionally, the prospect of a higher interest rate regime for an extended period weighed on assets with more distant cash flows, such the type of growth company heavily represented in the convertible market. New issue supply of convertibles fell off sharply from the robust levels seen during the post-pandemic rebound, as waning investor demand led to less favorable pricing. As a result, the index returned -24.87% over the reporting period.
Much of the convertible universe is unrated, and unrated issues accounted for the great majority of the Index’s negative return. In sector terms, technology issues are the largest Index constituent and the sector accounted for roughly half of the negative Index return, as rising interest rates weighed on assets with more distant cash flows.
Portfolio Information
MATURITY ALLOCATION | ||||
Maturity |
Percent of Total Investments(a) |
|||
0-1 Year |
7.5 | % | ||
1-5 Years |
81.8 | |||
5-10 Years |
8.3 | |||
More than 20 Years |
2.4 |
TEN LARGEST HOLDINGS | ||||
Security |
Percent of Total Investments(a) |
|||
Palo Alto Networks Inc., 0.38%, 06/01/25 |
1.8 | % | ||
Palo Alto Networks Inc., 0.75%, 07/01/23 |
1.6 | |||
Pioneer Natural Resources Co., 0.25%, 05/15/25 |
1.4 | |||
Ford Motor Co. , 03/15/26 |
1.2 | |||
DexCom Inc., 0.75%, 12/01/23 |
1.2 | |||
DISH Network Corp., 3.38%, 08/15/26 |
1.1 | |||
Southwest Airlines Co., 1.25%, 05/01/25 |
1.0 | |||
Sea Ltd., 0.25%, 09/15/26 |
1.0 | |||
Pinduoduo Inc. , 12/01/25 |
0.9 | |||
Airbnb Inc. , 03/15/26 |
0.8 |
(a) |
Excludes money market funds. |
12 |
2 0 2 2 I S H A R E S 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 |
Fund Summary as of October 31, 2022 | iShares® Floating Rate Bond ETF |
Investment Objective
The iShares Floating Rate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, investment-grade floating rate bonds with remaining maturities between one month and five years, as represented by the Bloomberg US Floating Rate Note<5 Years 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 | |||||||||||||||||||||||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | |||||||||||||||||||||||
Fund NAV |
0.21 | % | 1.41 | % | 1.19 | % | 0.21 | % | 7.23 | % | 12.53 | % | ||||||||||||||||
Fund Market |
(0.05 | ) | 1.36 | 1.12 | (0.05 | ) | 7.01 | 11.82 | ||||||||||||||||||||
Index |
0.43 | 1.68 | 1.43 | 0.43 | 8.69 | 15.31 |
GROWTH OF $10,000 INVESTMENT
(AT NET ASSET VALUE)
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 (05/01/22) |
|
|
Ending Account Value (10/31/22 |
) |
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22 |
) |
|
Ending Account Value (10/31/22 |
) |
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ 1,000.00 | $ 1,005.20 | $ 0.76 | $ 1,000.00 | $ 1,024.40 | $ 0.77 | 0.15 | % |
(a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (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. |
F U N D S U M M A R Y |
13 |
Fund Summary as of October 31, 2022 (continued) | iShares® Floating Rate Bond ETF |
Portfolio Management Commentary
While most segments of the fixed-income market experienced steeply negative returns over the 12-month period against a backdrop of hawkish monetary policy and rising Treasury yields, investment grade floating rate bonds managed to post a small positive return as gauged by the Index.
Entering the period, U.S. inflation was already running well above the 2% target of the U.S. Federal Reserve (Fed). Inflation would spike in the wake of Russia’s late-February invasion of Ukraine, which exacerbated ongoing supply-chain pressures and led to sharply higher commodity prices. Consumer price inflation rose by at least 7.5% on a year-over-year basis in each of the first nine months of 2022, hitting a peak of 9.1% in June. In response, the Fed aggressively raised its benchmark overnight lending rate, bringing the Fed funds target to a range of 3.0% to 3.25%, as compared to 0% to 0.25% at the start of 2022. In addition, the market anticipated significant further rate increases from the Fed in the coming months.
The U.S. Treasury yield curve moved dramatically higher in response to the Fed’s policy tightening, with the two-year yield moving from 0.50% to 4.48% over the 12 months, an increase of 398 basis points. Longer-term Treasury yields, which are less directly influenced by changes in Fed funds, rose to a more moderate degree, as reflected in the bellwether 10-year note yield which increased from 1.55% to 4.05%, or 250 basis points. As a result, short-term Treasury yields were higher than long-term yields at the end of the period, raising concerns that the economy was on the verge of recession.
The Index principally comprises U.S. dollar-denominated bonds with interest rates that reset periodically. Floating rate bonds are generally attractive to investors in a rising interest-rate environment. Because their coupon rates adjust to reflect shifts in short-term interest rates, their prices are not very sensitive to changing interest rates. That said, prices for floating rate bonds can fluctuate based on changes in the economic outlook and credit sentiment, as a weaker economy can impact the ability of companies to service their debts. Investment-grade floating-rate bonds posted a modest positive performance for the reporting period, as investors were attracted to their relative price stability in a rising interest rate environment.
Portfolio Information
CREDIT QUALITY ALLOCATION | ||||
Moody’s Credit Rating* |
|
Percent of Total Investments |
(a) | |
Aaa |
16.4 | % | ||
Aa |
13.7 | |||
A |
52.7 | |||
Baa |
14.4 | |||
Ba |
0.4 | |||
Not Rated |
2.4 |
MATURITY ALLOCATION | ||||
Maturity |
|
Percent of Total Investments |
(a) | |
0-1 Year |
27.7 | % | ||
1-5 Years |
72.3 |
* |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) |
Excludes money market funds. |
14 |
2 0 2 2 I S H A R E S 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 |
Fund Summary as of October 31, 2022 | iShares® USD Green Bond ETF |
Investment Objective
The iShares USD Green Bond ETF (the “Fund”) (formerly the iShares Global Green Bond ETF) seeks to track the investment results of an index composed of U.S.dollar-denominated investment-grade green bonds that are issued by U.S. and non-U.S. issuers to fund environmental projects, as represented by Bloomberg MSCI USD Green Bond Select 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 | |||||||||||||||
|
|
|
|
|
| |||||||||||
1 Year |
Since Inception |
1 Year | Since Inception |
|||||||||||||
Fund NAV |
(15.69 | )% | (0.71 | )% | (15.69 | )% | (2.77 | )% | ||||||||
Fund Market |
(15.95 | ) | (0.69 | ) | (15.95 | ) | (2.70 | ) | ||||||||
Index(a) |
(15.35 | ) | (0.54 | ) | (15.35 | ) | (2.11 | ) | ||||||||
Bloomberg MSCI Global Green Bond Select (USD Hedged) Index |
(17.23 | ) | (1.10 | ) | (17.23 | ) | (4.29 | ) | ||||||||
Bloomberg MSCI USD Green Bond Select Index (b) |
N/A | N/A | N/A | N/A |
(a) |
Index performance through February 28, 2022 reflects the performance of the Bloomberg MSCI Global Green Bond Select (USD Hedged) Index. Index performance beginning on March 1, 2022 reflects the performance of the Bloomberg MSCI USD Green Bond Select Index, which, effective as of March 1, 2022, replaced the Bloomberg MSCI Global Green Bond Select (USD Hedged) Index as the underlying index of the fund. |
(b) |
The inception date of the Bloomberg MSCI USD Green Bond Select Index was December 10, 2021. The cumulative total return for this index for the period December 10, 2021 through April 30, 2022 was -15.13%. |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 11/13/18. The first day of secondary market trading was 11/15/18.
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 |
|
|
Ending Account Value (10/31/22 |
) |
|
Expenses Paid During |
|
|
Beginning Account Value (05/01/22 |
) |
|
Ending Account Value (10/31/22 |
) |
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ | 1,000.00 | $ | 936.60 | $ | 0.39 | $ | 1,000.00 | $ | 1,024.80 | $ | 0.41 | 0.08 | % |
(a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (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. |
F U N D S U M M A R Y |
15 |
Fund Summary as of October 31, 2022 (continued) | iShares® USD Green Bond ETF |
Portfolio Management Commentary
Green bonds seek to raise funds for projects that aim to positively affect the environment, typically by promoting energy efficiency or reducing carbon emissions. Projects financed using green bonds can include investments in renewable energy generation, wastewater collection and treatment, sustainable forest management, and upgrading equipment to improve energy efficiency.
Effective March 1, 2022, enhancements were made to the iShares Global Green Bond ETF to change its focus from global to U.S. dollar-denominated, investment-grade green bonds. The change is a result of the substantial growth seen in the USD green bond market since the inception of the fund in 2018.
Interest in green bonds continued to grow over the period given the outlook for spending to support efforts to move toward zero carbon emissions and renewable energy sources. In this vein the U.S. Inflation Reduction Act of 2022 included incentives in support of green initiatives.
The Index had a negative return for the period as a sharp rise in U.S. Treasury yields along with an increase in risk aversion on the part of investors given heightened geopolitical uncertainty and recession fears led to weakness across all sectors of the bond market. Investment-grade corporate bonds, which constitute roughly half of the Index, were among the weakest-performing segments of the market. In addition to being adversely affected by rising market interest rates, prices for the asset class were pressured by an increase in credit spreads as investors became concerned that weaker economic growth would lead to a slowdown in corporate earnings. Viewed by credit quality, holdings of bonds rated Baa by Moody’s, the lowest investment grade rating, had the biggest negative impact on return given the widening of credit spreads. In terms of bond maturities, exposure to issues with maturities of 10 years or longer weighed most heavily on return as rates moved higher.
Portfolio Information
CREDIT QUALITY ALLOCATION | ||||
Moody’s Credit Rating* |
|
Percent of Total Investments |
(a) | |
Aaa |
14.7 | % | ||
Aa |
12.1 | |||
A |
32.5 | |||
Baa |
33.5 | |||
Not Rated |
7.2 |
MATURITY ALLOCATION | ||||
Maturity |
|
Percent of Total Investments |
(a) | |
0-1 Year |
3.5 | % | ||
1-5 Years |
51.5 | |||
5-10 Years |
32.0 | |||
10-15 Years |
1.9 | |||
15-20 Years |
1.4 | |||
More than 20 Years |
9.7 |
* |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) |
Excludes money market funds. |
16 |
2 0 2 2 I S H A R E S 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 |
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, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
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.
A B O U T F U N D P E R F O R M A N C E / D I S C L O S U R E O F E X P E N S E S |
17 |
October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Corporate Bonds & Notes |
||||||||
Advertising — 0.1% | ||||||||
Omnicom Group Inc./Omnicom Capital Inc. |
||||||||
3.60%, 04/15/26 (Call 01/15/26) |
$ | 2,715 | $ | 2,547,753 | ||||
3.65%, 11/01/24 (Call 08/01/24) |
1,572 | 1,517,342 | ||||||
|
|
|||||||
4,065,095 | ||||||||
Aerospace & Defense — 1.8% | ||||||||
Boeing Co. (The) |
||||||||
1.17%, 02/04/23 (Call 12/01/22)(a) |
597 | 590,163 | ||||||
1.43%, 02/04/24 (Call 11/14/22) |
4,227 | 4,009,065 | ||||||
1.95%, 02/01/24 |
1,537 | 1,468,527 | ||||||
2.20%, 02/04/26 (Call 02/04/23) |
7,357 | 6,548,953 | ||||||
2.70%, 02/01/27 (Call 12/01/26) |
320 | 277,933 | ||||||
2.75%, 02/01/26 (Call 01/01/26) |
2,065 | 1,862,208 | ||||||
3.10%, 05/01/26 (Call 03/01/26) |
520 | 469,945 | ||||||
4.51%, 05/01/23 (Call 04/01/23)(a) |
3,185 | 3,167,722 | ||||||
4.88%, 05/01/25 (Call 04/01/25) |
5,403 | 5,273,969 | ||||||
5.04%, 05/01/27 (Call 03/01/27) |
2,205 | 2,128,688 | ||||||
General Dynamics Corp. |
||||||||
1.15%, 06/01/26 (Call 05/01/26) |
800 | 699,233 | ||||||
1.88%, 08/15/23 (Call 06/15/23) |
892 | 871,305 | ||||||
2.13%, 08/15/26 (Call 05/15/26) |
240 | 215,821 | ||||||
2.25%, 11/15/22(a) |
1,148 | 1,146,264 | ||||||
2.38%, 11/15/24 (Call 09/15/24)(a) |
910 | 862,253 | ||||||
3.25%, 04/01/25 (Call 03/01/25) |
1,718 | 1,651,671 | ||||||
3.38%, 05/15/23 (Call 04/15/23)(a) |
917 | 909,101 | ||||||
3.50%, 05/15/25 (Call 03/15/25) |
1,323 | 1,281,603 | ||||||
3.50%, 04/01/27 (Call 02/01/27) |
1,920 | 1,804,027 | ||||||
L3Harris Technologies Inc. |
||||||||
3.83%, 04/27/25 (Call 01/27/25) |
1,024 | 983,410 | ||||||
3.85%, 06/15/23 (Call 05/15/23) |
1,585 | 1,576,133 | ||||||
3.85%, 12/15/26 (Call 09/15/26) |
1,900 | 1,777,031 | ||||||
Lockheed Martin Corp. |
||||||||
3.55%, 01/15/26 (Call 10/15/25) |
1,633 | 1,567,822 | ||||||
4.95%, 10/15/25 |
345 | 345,182 | ||||||
5.10%, 11/15/27 |
535 | 536,041 | ||||||
Northrop Grumman Corp. |
||||||||
2.93%, 01/15/25 (Call 11/15/24) |
1,964 | 1,871,902 | ||||||
3.20%, 02/01/27 (Call 11/01/26) |
73 | 67,086 | ||||||
3.25%, 08/01/23 |
2,083 | 2,054,635 | ||||||
Raytheon Technologies Corp. |
||||||||
2.65%, 11/01/26 (Call 08/01/26)(a) |
180 | 163,817 | ||||||
3.13%, 05/04/27 (Call 02/04/27) |
230 | 209,718 | ||||||
3.20%, 03/15/24 (Call 01/15/24) |
1,721 | 1,674,957 | ||||||
3.50%, 03/15/27 (Call 12/15/26) |
3,315 | 3,092,931 | ||||||
3.95%, 08/16/25 (Call 06/16/25) |
2,336 | 2,265,424 | ||||||
|
|
|||||||
53,424,540 | ||||||||
Agriculture — 1.1% | ||||||||
Altria Group Inc. |
||||||||
2.35%, 05/06/25 (Call 04/06/25) |
1,706 | 1,575,065 | ||||||
2.63%, 09/16/26 (Call 06/16/26)(a) |
359 | 320,790 | ||||||
4.00%, 01/31/24 |
325 | 319,568 | ||||||
4.40%, 02/14/26 (Call 12/14/25)(a) |
1,700 | 1,634,023 | ||||||
Archer-Daniels-Midland Co., 2.50%, 08/11/26 (Call 05/11/26) |
1,435 | 1,311,837 | ||||||
BAT Capital Corp. |
||||||||
2.79%, 09/06/24 (Call 08/06/24) |
1,590 | 1,505,108 | ||||||
3.22%, 08/15/24 (Call 06/15/24) |
3,579 | 3,418,256 | ||||||
3.22%, 09/06/26 (Call 07/06/26) |
1,753 | 1,560,715 | ||||||
3.56%, 08/15/27 (Call 05/15/27) |
4,380 | 3,835,067 |
Security |
Par (000) |
Value | ||||||
Agriculture (continued) | ||||||||
4.70%, 04/02/27 (Call 02/02/27)(a) |
$ | 894 | $ | 828,364 | ||||
BAT
International Finance PLC, |
2,064 | 1,772,975 | ||||||
Bunge Ltd. Finance Corp. |
||||||||
1.63%, 08/17/25 (Call 07/17/25) |
1,397 | 1,252,753 | ||||||
3.25%, 08/15/26 (Call 05/15/26) |
685 | 625,302 | ||||||
Philip Morris International Inc. |
||||||||
0.88%, 05/01/26 (Call 04/01/26) |
1,273 | 1,088,616 | ||||||
1.13%, 05/01/23 |
974 | 957,612 | ||||||
1.50%, 05/01/25 (Call 04/01/25) |
1,240 | 1,130,562 | ||||||
2.13%, 05/10/23 (Call 03/10/23)(a) |
749 | 739,755 | ||||||
2.50%, 11/02/22 |
586 | 586,000 | ||||||
2.63%, 03/06/23 |
209 | 207,183 | ||||||
2.75%, 02/25/26 (Call 11/25/25)(a) |
752 | 689,104 | ||||||
2.88%, 05/01/24 (Call 04/01/24) |
1,791 | 1,729,135 | ||||||
3.13%, 08/17/27 (Call 05/17/27)(a) |
20 | 17,980 | ||||||
3.25%, 11/10/24(a) |
1,687 | 1,625,560 | ||||||
3.38%, 08/11/25 (Call 05/11/25) |
1,543 | 1,460,957 | ||||||
3.60%, 11/15/23 |
350 | 345,657 | ||||||
Reynolds American Inc. |
||||||||
4.45%, 06/12/25 (Call 03/12/25) |
2,934 | 2,831,730 | ||||||
4.85%, 09/15/23(a) |
844 | 839,649 | ||||||
|
|
|||||||
34,209,323 | ||||||||
Airlines — 0.1% | ||||||||
Southwest Airlines Co. |
||||||||
5.13%, 06/15/27 (Call 04/15/27) |
1,875 | 1,828,606 | ||||||
5.25%, 05/04/25 (Call 04/04/25)(a) |
2,325 | 2,311,663 | ||||||
|
|
|||||||
4,140,269 | ||||||||
Apparel — 0.3% | ||||||||
NIKE Inc. |
||||||||
2.25%, 05/01/23 (Call 02/01/23)(a) |
531 | 525,098 | ||||||
2.38%, 11/01/26 (Call 08/01/26) |
1,345 | 1,225,160 | ||||||
2.40%, 03/27/25 (Call 02/27/25) |
1,853 | 1,749,368 | ||||||
2.75%, 03/27/27 (Call 01/27/27) |
2,942 | 2,695,141 | ||||||
VF Corp. |
||||||||
2.40%, 04/23/25 (Call 03/23/25) |
1,685 | 1,564,994 | ||||||
2.80%, 04/23/27 (Call 02/23/27)(a) |
650 | 577,323 | ||||||
|
|
|||||||
8,337,084 | ||||||||
Auto Manufacturers — 3.7% | ||||||||
American Honda Finance Corp. |
||||||||
0.55%, 07/12/24(a) |
1,564 | 1,450,291 | ||||||
0.65%, 09/08/23 |
297 | 286,799 | ||||||
0.75%, 08/09/24 |
990 | 918,571 | ||||||
0.88%, 07/07/23 |
789 | 767,868 | ||||||
1.00%, 09/10/25(a) |
1,433 | 1,276,961 | ||||||
1.20%, 07/08/25 |
1,559 | 1,406,803 | ||||||
1.30%, 09/09/26(a) |
852 | 739,229 | ||||||
1.50%, 01/13/25 |
1,430 | 1,326,700 | ||||||
1.95%, 05/10/23(a) |
1,271 | 1,252,316 | ||||||
2.05%, 01/10/23 |
1,260 | 1,253,900 | ||||||
2.15%, 09/10/24 |
1,527 | 1,448,713 | ||||||
2.30%, 09/09/26 |
210 | 187,870 | ||||||
2.35%, 01/08/27 |
610 | 542,197 | ||||||
2.40%, 06/27/24 |
1,298 | 1,242,306 | ||||||
2.60%, 11/16/22(a) |
1,003 | 1,002,387 | ||||||
2.90%, 02/16/24 |
1,220 | 1,186,267 | ||||||
3.45%, 07/14/23 |
814 | 806,258 | ||||||
3.55%, 01/12/24 |
1,393 | 1,367,800 | ||||||
3.63%, 10/10/23(a) |
1,685 | 1,662,371 |
18 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Auto Manufacturers (continued) |
| |||||||
Cummins Inc. |
||||||||
0.75%, 09/01/25 (Call 08/01/25)(a) |
$ | 859 | $ | 764,694 | ||||
3.65%, 10/01/23 (Call 07/01/23) |
493 | 486,778 | ||||||
General Motors Co. |
||||||||
4.00%, 04/01/25(a) |
417 | 398,697 | ||||||
4.88%, 10/02/23 |
1,851 | 1,833,634 | ||||||
5.40%, 10/02/23(a) |
1,713 | 1,705,989 | ||||||
6.13%, 10/01/25 (Call 09/01/25) |
2,668 | 2,655,266 | ||||||
General Motors Financial Co. Inc. |
||||||||
1.05%, 03/08/24 |
1,430 | 1,340,897 | ||||||
1.20%, 10/15/24 |
1,110 | 1,013,972 | ||||||
1.25%, 01/08/26 (Call 12/08/25) |
1,966 | 1,679,776 | ||||||
1.50%, 06/10/26 (Call 05/10/26) |
1,620 | 1,363,537 | ||||||
1.70%, 08/18/23(a) |
1,920 | 1,856,420 | ||||||
2.35%, 02/26/27 (Call 01/26/27)(a) |
2,080 | 1,760,685 | ||||||
2.70%, 08/20/27 (Call 06/20/27) |
1,025 | 862,984 | ||||||
2.75%, 06/20/25 (Call 05/20/25)(a) |
1,758 | 1,615,737 | ||||||
2.90%, 02/26/25 (Call 01/26/25) |
1,735 | 1,617,203 | ||||||
3.25%, 01/05/23 (Call 12/05/22)(a) |
751 | 748,818 | ||||||
3.50%, 11/07/24 (Call 09/07/24) |
1,071 | 1,021,237 | ||||||
3.70%, 05/09/23 (Call 03/09/23) |
2,220 | 2,196,541 | ||||||
3.80%, 04/07/25(a) |
1,265 | 1,195,911 | ||||||
3.95%, 04/13/24 (Call 02/13/24) |
1,711 | 1,662,571 | ||||||
4.00%, 01/15/25 (Call 10/15/24)(a) |
1,674 | 1,607,008 | ||||||
4.00%, 10/06/26 (Call 07/06/26) |
500 | 459,123 | ||||||
4.15%, 06/19/23 (Call 05/19/23)(a) |
1,790 | 1,772,533 | ||||||
4.25%, 05/15/23 |
1,549 | 1,543,100 | ||||||
4.30%, 07/13/25 (Call 04/13/25) |
1,315 | 1,251,980 | ||||||
4.35%, 04/09/25 (Call 02/09/25) |
1,468 | 1,406,972 | ||||||
4.35%, 01/17/27 (Call 10/17/26) |
1,000 | 920,862 | ||||||
5.00%, 04/09/27 (Call 03/09/27)(a) |
1,430 | 1,350,805 | ||||||
5.10%, 01/17/24 (Call 12/17/23) |
1,836 | 1,815,526 | ||||||
5.25%, 03/01/26 (Call 12/01/25)(a) |
1,710 | 1,656,712 | ||||||
6.05%, 10/10/25 |
1,050 | 1,041,150 | ||||||
Honda Motor Co. Ltd. |
||||||||
2.27%, 03/10/25 (Call 02/10/25) |
1,055 | 989,780 | ||||||
2.53%, 03/10/27 (Call 02/10/27)(a) |
930 | 832,216 | ||||||
Stellantis NV, 5.25%, 04/15/23 |
1,792 | 1,785,316 | ||||||
Toyota Motor Corp. |
||||||||
0.68%, 03/25/24 (Call 02/25/24)(a) |
1,605 | 1,511,088 | ||||||
1.34%, 03/25/26 (Call 02/25/26)(a) |
1,566 | 1,383,041 | ||||||
2.36%, 07/02/24 |
780 | 747,977 | ||||||
3.42%, 07/20/23(a) |
1,292 | 1,277,941 | ||||||
Toyota Motor Credit Corp. |
||||||||
0.40%, 04/06/23(a) |
993 | 976,190 | ||||||
0.45%, 01/11/24 |
1,355 | 1,284,451 | ||||||
0.50%, 08/14/23(a) |
1,736 | 1,679,176 | ||||||
0.50%, 06/18/24 |
1,460 | 1,357,624 | ||||||
0.63%, 09/13/24(a) |
1,335 | 1,231,922 | ||||||
0.80%, 10/16/25 |
1,599 | 1,410,619 | ||||||
0.80%, 01/09/26 |
879 | 767,892 | ||||||
1.13%, 06/18/26(a) |
1,820 | 1,580,977 | ||||||
1.35%, 08/25/23(a) |
1,496 | 1,452,807 | ||||||
1.45%, 01/13/25(a) |
1,720 | 1,593,420 | ||||||
1.80%, 02/13/25 |
1,821 | 1,696,243 | ||||||
1.90%, 01/13/27(a) |
1,113 | 976,017 | ||||||
2.00%, 10/07/24 |
706 | 666,809 | ||||||
2.25%, 10/18/23 |
728 | 708,488 | ||||||
2.50%, 03/22/24 |
285 | 275,577 | ||||||
2.63%, 01/10/23 |
697 | 694,333 |
Security |
Par (000) |
Value | ||||||
Auto Manufacturers (continued) |
| |||||||
2.70%, 01/11/23 |
$ | 839 | $ | 835,809 | ||||
2.90%, 03/30/23(a) |
1,126 | 1,117,621 | ||||||
2.90%, 04/17/24 |
907 | 880,295 | ||||||
3.00%, 04/01/25(a) |
1,392 | 1,327,151 | ||||||
3.05%, 03/22/27 |
1,205 | 1,104,264 | ||||||
3.20%, 01/11/27 |
3,260 | 3,014,305 | ||||||
3.35%, 01/08/24 |
841 | 825,690 | ||||||
3.40%, 04/14/25(a) |
499 | 479,931 | ||||||
3.45%, 09/20/23 |
973 | 961,305 | ||||||
3.65%, 08/18/25 |
2,400 | 2,310,364 | ||||||
3.95%, 06/30/25(a) |
945 | 919,986 | ||||||
4.40%, 09/20/24 |
3,000 | 2,970,892 | ||||||
4.55%, 09/20/27 |
3,000 | 2,917,643 | ||||||
|
|
|||||||
109,277,885 | ||||||||
Auto Parts & Equipment — 0.2% | ||||||||
Aptiv
PLC/Aptiv Corp., |
1,215 | 1,131,623 | ||||||
BorgWarner Inc. |
||||||||
2.65%, 07/01/27 (Call 05/01/27) |
655 | 570,196 | ||||||
3.38%, 03/15/25 (Call 12/15/24) |
1,165 | 1,112,433 | ||||||
Magna International Inc. |
||||||||
3.63%, 06/15/24 (Call 03/15/24) |
1,532 | 1,494,742 | ||||||
4.15%, 10/01/25 (Call 07/01/25) |
1,603 | 1,555,038 | ||||||
|
|
|||||||
5,864,032 | ||||||||
Banks — 34.3% | ||||||||
Australia & New Zealand Banking Group Ltd./New York NY |
||||||||
2.05%, 11/21/22 |
1,204 | 1,202,393 | ||||||
3.70%, 11/16/25 |
1,613 | 1,547,433 | ||||||
Banco Bilbao Vizcaya Argentaria SA |
||||||||
0.88%, 09/18/23(a) |
1,455 | 1,395,437 | ||||||
1.13%, 09/18/25 |
1,250 | 1,092,952 | ||||||
5.86%, 09/14/26 (Call 09/14/25)(b) |
400 | 386,498 | ||||||
Banco Santander SA |
||||||||
0.70%, 06/30/24 (Call 06/30/23)(b) |
2,185 | 2,100,544 | ||||||
1.72%, 09/14/27 (Call 09/14/26)(b) |
325 | 265,065 | ||||||
1.85%, 03/25/26 |
1,980 | 1,690,767 | ||||||
2.71%, 06/27/24 |
2,106 | 1,999,045 | ||||||
2.75%, 05/28/25 |
1,518 | 1,376,811 | ||||||
3.13%, 02/23/23(a) |
1,635 | 1,623,209 | ||||||
3.50%, 03/24/25 |
1,610 | 1,527,549 | ||||||
3.85%, 04/12/23 |
1,845 | 1,830,627 | ||||||
3.89%, 05/24/24 |
1,985 | 1,924,424 | ||||||
4.18%, 03/24/28 (Call 03/24/27)(b) |
500 | 439,929 | ||||||
4.25%, 04/11/27 |
600 | 538,947 | ||||||
5.15%, 08/18/25(a) |
625 | 601,994 | ||||||
5.29%, 08/18/27 |
2,400 | 2,208,695 | ||||||
Bank of America Corp. |
||||||||
0.52%, 06/14/24
(Call 06/14/23), |
2,495 | 2,408,375 | ||||||
0.81%, 10/24/24
(Call 10/24/23), |
2,355 | 2,234,481 | ||||||
0.98%, 04/22/25
(Call 04/22/24), |
2,856 | 2,647,114 | ||||||
0.98%, 09/25/25
(Call 09/25/24), |
2,645 | 2,403,426 | ||||||
1.20%, 10/24/26
(Call 10/24/25), |
3,140 | 2,724,887 | ||||||
1.32%, 06/19/26
(Call 06/19/25), |
2,775 | 2,450,047 | ||||||
1.49%, 05/19/24
(Call 05/19/23), |
980 | 957,726 | ||||||
1.53%, 12/06/25
(Call 12/06/24), |
1,415 | 1,288,549 | ||||||
1.73%, 07/22/27
(Call 07/22/26), |
6,595 | 5,637,809 | ||||||
1.84%, 02/04/25
(Call 02/04/24), |
1,810 | 1,713,611 | ||||||
2.02%, 02/13/26
(Call 02/13/25), |
2,025 | 1,852,074 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
2.46%, 10/22/25
(Call 10/22/24), |
$ | 2,297 | $ | 2,147,518 | ||||
2.55%, 02/04/28
(Call 02/04/27), |
1,900 | 1,643,352 | ||||||
3.00%, 12/20/23
(Call 12/20/22), |
2,879 | 2,868,212 | ||||||
3.09%, 10/01/25
(Call 10/01/24), |
2,242 | 2,120,695 | ||||||
3.25%, 10/21/27 (Call 10/21/26) |
200 | 178,272 | ||||||
3.30%, 01/11/23 |
120 | 119,719 | ||||||
3.37%, 01/23/26
(Call 01/23/25), |
1,910 | 1,800,587 | ||||||
3.38%, 04/02/26
(Call 04/02/25), |
1,585 | 1,488,494 | ||||||
3.46%, 03/15/25
(Call 03/15/24), |
1,670 | 1,610,071 | ||||||
3.50%, 04/19/26 |
2,287 | 2,137,410 | ||||||
3.55%, 03/05/24
(Call 03/05/23), |
3,271 | 3,243,808 | ||||||
3.56%, 04/23/27
(Call 04/23/26), |
900 | 828,649 | ||||||
3.84%, 04/25/25
(Call 04/25/24), |
2,105 | 2,036,593 | ||||||
3.86%, 07/23/24
(Call 07/23/23), |
3,494 | 3,443,068 | ||||||
3.88%, 08/01/25(a) |
1,832 | 1,768,934 | ||||||
4.00%, 04/01/24(a) |
1,966 | 1,937,920 | ||||||
4.00%, 01/22/25 |
2,155 | 2,076,695 | ||||||
4.10%, 07/24/23(a) |
2,023 | 2,013,003 | ||||||
4.13%, 01/22/24 |
3,441 | 3,400,196 | ||||||
4.20%, 08/26/24 |
3,105 | 3,035,472 | ||||||
4.25%, 10/22/26 |
4,190 | 3,966,775 | ||||||
4.38%, 04/27/28
(Call 04/27/27), |
2,765 | 2,574,117 | ||||||
4.45%, 03/03/26 |
1,911 | 1,833,152 | ||||||
4.83%, 07/22/26 (Call 07/22/25)(b) |
2,485 | 2,422,109 | ||||||
Series L, 3.95%, 04/21/25 |
2,550 | 2,440,241 | ||||||
Series N, 1.66%, 03/11/27 (Call 03/11/26), (SOFR + 0.910%)(b) |
3,020 | 2,612,130 | ||||||
Bank of Montreal |
||||||||
0.40%, 09/15/23 |
1,482 | 1,420,201 | ||||||
0.45%, 12/08/23 |
1,002 | 952,124 | ||||||
0.63%, 07/09/24 |
2,435 | 2,250,286 | ||||||
0.95%, 01/22/27
(Call 01/22/26), |
845 | 727,486 | ||||||
1.25%, 09/15/26 |
2,467 | 2,095,847 | ||||||
1.50%, 01/10/25 |
1,795 | 1,647,297 | ||||||
1.85%, 05/01/25(a) |
1,955 | 1,795,394 | ||||||
2.15%, 03/08/24 |
1,950 | 1,868,409 | ||||||
2.50%, 06/28/24 |
2,210 | 2,109,647 | ||||||
2.55%, 11/06/22 |
723 | 722,920 | ||||||
2.65%, 03/08/27(a) |
2,575 | 2,281,716 | ||||||
3.70%, 06/07/25(a) |
1,955 | 1,870,544 | ||||||
Series E, 3.30%, 02/05/24(a) |
2,522 | 2,458,381 | ||||||
Series H, 4.25%, 09/14/24 |
125 | 122,287 | ||||||
Series H, 4.70%, 09/14/27 (Call 08/14/27) |
20 | 19,143 | ||||||
Bank of New York Mellon Corp. (The) |
||||||||
0.35%, 12/07/23 (Call 11/07/23) |
760 | 724,452 | ||||||
0.50%, 04/26/24 (Call 03/26/24) |
723 | 676,574 | ||||||
0.75%, 01/28/26 (Call 12/28/25) |
1,024 | 894,749 | ||||||
1.05%, 10/15/26 (Call 09/15/26)(a) |
2,070 | 1,760,077 | ||||||
1.60%, 04/24/25 (Call 03/24/25) |
1,007 | 921,963 | ||||||
1.85%, 01/27/23 (Call 01/02/23)(a) |
993 | 986,792 | ||||||
2.05%, 01/26/27 (Call 12/26/26)(a) |
1,440 | 1,266,807 | ||||||
2.10%, 10/24/24(a) |
2,140 | 2,020,472 |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
2.20%, 08/16/23 (Call 06/16/23) |
$ | 1,328 | $ | 1,300,643 | ||||
2.45%, 08/17/26 (Call 05/17/26) |
1,370 | 1,238,385 | ||||||
2.80%, 05/04/26 (Call 02/04/26)(a) |
880 | 814,816 | ||||||
2.95%, 01/29/23 (Call 12/29/22) |
1,154 | 1,149,128 | ||||||
3.25%, 09/11/24 (Call 08/11/24) |
825 | 799,727 | ||||||
3.25%, 05/16/27 (Call 02/16/27)(a) |
675 | 624,161 | ||||||
3.35%, 04/25/25 (Call 03/25/25) |
920 | 883,991 | ||||||
3.40%, 05/15/24 (Call 04/15/24) |
593 | 578,038 | ||||||
3.43%, 06/13/25 (Call 06/13/24)(a)(b) |
510 | 495,042 | ||||||
3.45%, 08/11/23(a) |
811 | 804,476 | ||||||
3.50%, 04/28/23 |
1,061 | 1,055,018 | ||||||
4.41%, 07/24/26 (Call 07/24/25)(b) |
265 | 257,055 | ||||||
Series 12, 3.65%, 02/04/24 (Call 01/05/24) |
1,118 | 1,098,886 | ||||||
Series G, 3.00%, 02/24/25 (Call 01/24/25) |
932 | 889,736 | ||||||
Series J, 0.85%, 10/25/24 (Call 09/25/24) |
905 | 834,166 | ||||||
Bank of Nova Scotia (The) |
||||||||
0.40%, 09/15/23 |
905 | 868,578 | ||||||
0.55%, 09/15/23 |
912 | 876,490 | ||||||
0.65%, 07/31/24 |
1,455 | 1,339,380 | ||||||
0.70%, 04/15/24 |
2,385 | 2,226,422 | ||||||
1.05%, 03/02/26 |
1,677 | 1,453,240 | ||||||
1.30%, 06/11/25(a) |
877 | 787,122 | ||||||
1.30%, 09/15/26 |
1,565 | 1,333,016 | ||||||
1.35%, 06/24/26 |
3,655 | 3,166,330 | ||||||
1.45%, 01/10/25 |
805 | 736,920 | ||||||
1.63%, 05/01/23 |
791 | 778,628 | ||||||
1.95%, 02/01/23 |
107 | 106,305 | ||||||
1.95%, 02/02/27(a) |
1,400 | 1,207,343 | ||||||
2.00%, 11/15/22(a) |
608 | 607,378 | ||||||
2.20%, 02/03/25 |
850 | 790,413 | ||||||
2.38%, 01/18/23(a) |
751 | 747,182 | ||||||
2.44%, 03/11/24 |
1,565 | 1,506,296 | ||||||
2.70%, 08/03/26 |
175 | 157,726 | ||||||
2.95%, 03/11/27 |
1,685 | 1,508,544 | ||||||
3.40%, 02/11/24 |
2,181 | 2,132,631 | ||||||
3.45%, 04/11/25 |
1,470 | 1,397,509 | ||||||
4.50%, 12/16/25(a) |
1,956 | 1,880,124 | ||||||
Barclays Bank PLC, 3.75%, 05/15/24(a) |
1,165 | 1,133,992 | ||||||
Barclays PLC |
||||||||
1.01%, 12/10/24 (Call 12/10/23)(b) |
2,390 | 2,238,039 | ||||||
2.28%, 11/24/27 (Call 11/24/26)(b) |
1,500 | 1,240,190 | ||||||
2.85%, 05/07/26
(Call 05/07/25), |
2,857 | 2,574,410 | ||||||
3.65%, 03/16/25 |
2,256 | 2,098,581 | ||||||
3.93%, 05/07/25
(Call 05/07/24), |
2,662 | 2,539,273 | ||||||
4.34%, 05/16/24
(Call 05/16/23), |
1,043 | 1,029,152 | ||||||
4.38%, 09/11/24 |
2,229 | 2,118,092 | ||||||
4.38%, 01/12/26 |
3,180 | 2,951,358 | ||||||
5.20%, 05/12/26 |
722 | 664,104 | ||||||
5.30%, 08/09/26 (Call 08/09/25)(b) |
1,070 | 1,017,780 | ||||||
7.33%, 11/02/26 |
1,600 | 1,594,862 | ||||||
BNP Paribas SA |
||||||||
3.25%, 03/03/23(a) |
1,001 | 995,036 | ||||||
4.25%, 10/15/24 |
1,578 | 1,517,280 | ||||||
BPCE SA |
||||||||
3.38%, 12/02/26 |
890 | 811,383 | ||||||
4.00%, 04/15/24 |
1,114 | 1,084,450 | ||||||
Canadian Imperial Bank of Commerce |
||||||||
0.45%, 06/22/23 |
1,636 | 1,589,891 |
20 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
0.50%, 12/14/23 |
$ | 819 | $ | 776,290 | ||||
0.95%, 06/23/23(a) |
1,459 | 1,418,763 | ||||||
0.95%, 10/23/25 |
898 | 787,094 | ||||||
1.00%, 10/18/24 |
955 | 876,625 | ||||||
1.25%, 06/22/26 |
2,697 | 2,308,230 | ||||||
2.25%, 01/28/25 |
2,083 | 1,940,547 | ||||||
3.10%, 04/02/24(a) |
1,433 | 1,389,604 | ||||||
3.30%, 04/07/25 |
1,170 | 1,111,225 | ||||||
3.45%, 04/07/27(a) |
500 | 456,301 | ||||||
3.50%, 09/13/23(a) |
1,244 | 1,229,149 | ||||||
3.95%, 08/04/25 |
830 | 796,305 | ||||||
Citibank NA, 3.65%, 01/23/24 (Call 12/23/23)(a) |
2,070 | 2,038,948 | ||||||
Citigroup Inc. |
||||||||
0.78%, 10/30/24
(Call 10/30/23), |
2,536 | 2,397,497 | ||||||
0.98%, 05/01/25
(Call 05/01/24), |
2,025 | 1,871,216 | ||||||
1.12%, 01/28/27
(Call 01/28/26), |
924 | 787,604 | ||||||
1.28%, 11/03/25
(Call 11/03/24), |
1,755 | 1,590,973 | ||||||
1.46%, 06/09/27
(Call 06/09/26), |
3,115 | 2,641,061 | ||||||
1.68%, 05/15/24
(Call 05/15/23), |
2,823 | 2,761,224 | ||||||
2.01%, 01/25/26
(Call 01/25/25), |
3,310 | 3,022,791 | ||||||
3.11%, 04/08/26
(Call 04/08/25), |
4,163 | 3,886,055 | ||||||
3.20%, 10/21/26 (Call 07/21/26) |
3,395 | 3,091,474 | ||||||
3.29%, 03/17/26
(Call 03/17/25), |
1,435 | 1,345,246 | ||||||
3.30%, 04/27/25(a) |
1,771 | 1,680,467 | ||||||
3.35%, 04/24/25
(Call 04/24/24), |
3,983 | 3,825,448 | ||||||
3.40%, 05/01/26 |
2,535 | 2,351,937 | ||||||
3.50%, 05/15/23 |
1,804 | 1,788,251 | ||||||
3.70%, 01/12/26 |
2,787 | 2,619,101 | ||||||
3.75%, 06/16/24(a) |
1,541 | 1,506,844 | ||||||
3.88%, 10/25/23 |
803 | 793,132 | ||||||
3.88%, 03/26/25 |
1,553 | 1,482,083 | ||||||
4.00%, 08/05/24 |
3,030 | 2,951,638 | ||||||
4.04%, 06/01/24
(Call 06/01/23), |
1,715 | 1,697,085 | ||||||
4.14%, 05/24/25
(Call 05/24/24), |
1,485 | 1,442,734 | ||||||
4.30%, 11/20/26 |
1,410 | 1,330,206 | ||||||
4.40%, 06/10/25 |
3,152 | 3,051,416 | ||||||
4.45%, 09/29/27 |
6,000 | 5,574,568 | ||||||
4.60%, 03/09/26(a) |
2,165 | 2,076,537 | ||||||
5.50%, 09/13/25 |
1,991 | 1,973,255 | ||||||
5.61%, 09/29/26 (Call 09/29/25)(b) |
1,420 | 1,401,406 | ||||||
Citizens Bank NA/Providence RI |
||||||||
2.25%, 04/28/25 (Call 03/28/25) |
982 | 903,383 | ||||||
3.70%, 03/29/23 (Call 02/28/23) |
600 | 596,794 | ||||||
3.75%, 02/18/26 (Call 11/18/25) |
680 | 637,502 | ||||||
4.12%, 05/23/25 (Call 05/23/24)(b) |
685 | 668,105 | ||||||
6.06%, 10/24/25 |
535 | 538,650 | ||||||
Citizens Financial Group Inc., 2.85%, 07/27/26 (Call 04/27/26) |
553 | 500,037 | ||||||
Comerica Bank, 2.50%, 07/23/24 |
1,043 | 995,598 | ||||||
Comerica Inc., 3.70%, 07/31/23 (Call 06/30/23) |
1,551 | 1,533,241 | ||||||
Cooperatieve Rabobank UA |
||||||||
3.75%, 07/21/26 |
1,461 | 1,326,398 | ||||||
4.38%, 08/04/25 |
2,059 | 1,947,294 | ||||||
4.63%, 12/01/23(a) |
25 | 24,679 | ||||||
Cooperatieve Rabobank UA/NY |
||||||||
0.38%, 01/12/24(a) |
430 | 406,151 | ||||||
1.38%, 01/10/25 |
1,225 | 1,125,894 | ||||||
2.75%, 01/10/23(a) |
897 | 893,750 |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
3.38%, 05/21/25 |
$ | 1,825 | $ | 1,744,222 | ||||
3.88%, 08/22/24 |
300 | 293,078 | ||||||
Credit Suisse AG/New York NY |
||||||||
0.50%, 02/02/24 |
1,380 | 1,261,453 | ||||||
0.52%, 08/09/23 |
1,840 | 1,744,633 | ||||||
1.00%, 05/05/23 |
2,591 | 2,509,649 | ||||||
1.25%, 08/07/26 |
2,580 | 2,059,065 | ||||||
2.95%, 04/09/25 |
2,186 | 1,948,670 | ||||||
3.63%, 09/09/24 |
3,988 | 3,717,552 | ||||||
3.70%, 02/21/25 |
2,850 | 2,602,486 | ||||||
4.75%, 08/09/24 |
1,125 | 1,068,442 | ||||||
5.00%, 07/09/27 |
1,200 | 1,080,386 | ||||||
Credit Suisse Group AG |
||||||||
3.75%, 03/26/25 |
3,349 | 3,016,246 | ||||||
3.80%, 06/09/23 |
2,409 | 2,342,878 | ||||||
4.55%, 04/17/26 |
2,375 | 2,091,642 | ||||||
Deutsche Bank AG, 6.12%, 07/14/26 |
1,660 | 1,587,728 | ||||||
Deutsche Bank AG/London, 3.70%, 05/30/24(a) |
1,485 | 1,437,611 | ||||||
Deutsche Bank AG/New York NY |
||||||||
0.90%, 05/28/24 |
1,455 | 1,335,272 | ||||||
1.45%, 04/01/25 (Call 04/01/24), |
1,210 | 1,102,379 | ||||||
1.69%, 03/19/26 |
795 | 685,184 | ||||||
2.13%, 11/24/26 (Call 11/24/25), |
610 | 512,766 | ||||||
2.22%, 09/18/24 (Call 09/18/23), |
3,138 | 2,972,158 | ||||||
2.31%, 11/16/27 (Call 11/16/26), |
1,075 | 857,347 | ||||||
2.55%, 01/07/28 (Call 01/07/27), |
945 | 755,131 | ||||||
3.30%, 11/16/22 |
1,167 | 1,166,237 | ||||||
3.70%, 05/30/24 |
1,094 | 1,050,433 | ||||||
3.95%, 02/27/23(a) |
1,624 | 1,612,399 | ||||||
3.96%, 11/26/25 (Call 11/26/24), |
1,991 | 1,834,576 | ||||||
4.16%, 05/13/25(a) |
250 | 238,192 | ||||||
Series E, 0.96%, 11/08/23 |
1,415 | 1,344,360 | ||||||
Discover Bank |
||||||||
2.45%, 09/12/24 (Call 08/12/24)(a) |
2,218 | 2,083,736 | ||||||
3.35%, 02/06/23 (Call 01/06/23)(a) |
1,140 | 1,134,468 | ||||||
3.45%, 07/27/26 (Call 04/27/26) |
1,685 | 1,510,163 | ||||||
4.20%, 08/08/23 |
1,603 | 1,585,697 | ||||||
Fifth Third Bancorp. |
||||||||
1.63%, 05/05/23 (Call 04/05/23) |
830 | 816,465 | ||||||
1.71%, 11/01/27 (Call 11/01/26), |
100 | 85,036 | ||||||
2.38%, 01/28/25 (Call 12/28/24) |
1,839 | 1,711,854 | ||||||
2.55%, 05/05/27 (Call 04/05/27) |
120 | 104,924 | ||||||
3.65%, 01/25/24 (Call 12/25/23) |
2,689 | 2,632,885 | ||||||
4.30%, 01/16/24 (Call 12/16/23) |
1,363 | 1,342,868 | ||||||
Fifth Third Bank NA |
||||||||
1.80%, 01/30/23 (Call 12/30/22) |
1,078 | 1,070,204 | ||||||
2.25%, 02/01/27 (Call 01/01/27) |
600 | 526,845 | ||||||
3.85%, 03/15/26 (Call 02/15/26) |
490 | 456,614 | ||||||
3.95%, 07/28/25 (Call 06/28/25) |
1,565 | 1,514,712 | ||||||
5.85%, 10/27/25 |
1,000 | 1,001,066 | ||||||
Goldman Sachs Group Inc. (The) |
||||||||
0.52%, 03/08/23 |
675 | 664,840 | ||||||
0.63%, 11/17/23 (Call 11/17/22), |
860 | 857,835 | ||||||
0.66%, 09/10/24 (Call 09/10/23), |
2,125 | 2,022,853 | ||||||
0.67%, 03/08/24 (Call 03/08/23), |
3,052 | 2,990,587 | ||||||
0.86%, 02/12/26 (Call 02/12/25), |
1,770 | 1,568,770 | ||||||
0.93%, 10/21/24 (Call 10/21/23), |
2,470 | 2,337,713 | ||||||
1.09%, 12/09/26 (Call 12/09/25), |
495 | 426,509 | ||||||
1.22%, 12/06/23 (Call 12/06/22) |
560 | 535,571 | ||||||
1.43%, 03/09/27 (Call 03/09/26), |
2,025 | 1,733,168 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
1.54%, 09/10/27 (Call 09/10/26), (SOFR + 0.818%)(b) |
$ | 3,200 | $ | 2,683,038 | ||||
1.76%, 01/24/25 (Call 01/24/24), (SOFR + 0.730%)(b) |
3,400 | 3,211,209 | ||||||
1.95%, 10/21/27 (Call 10/21/26), (SOFR + 0.913%)(b) |
1,860 | 1,579,798 | ||||||
2.64%, 02/24/28 (Call 02/24/27), (SOFR + 1.114%)(b) |
1,215 | 1,050,735 | ||||||
3.00%, 03/15/24 |
1,830 | 1,769,380 | ||||||
3.20%, 02/23/23 (Call 01/23/23) |
1,342 | 1,334,363 | ||||||
3.27%, 09/29/25
(Call 09/29/24), |
4,051 | 3,841,237 | ||||||
3.50%, 01/23/25 (Call 10/23/24) |
3,290 | 3,143,511 | ||||||
3.50%, 04/01/25 (Call 03/01/25) |
4,513 | 4,275,385 | ||||||
3.50%, 11/16/26 (Call 11/16/25) |
2,295 | 2,095,167 | ||||||
3.62%, 03/15/28 (Call 03/15/27), (SOFR + 1.846%)(b) |
840 | 757,572 | ||||||
3.63%, 01/22/23 |
2,255 | 2,248,896 | ||||||
3.63%, 02/20/24 (Call 01/20/24) |
2,289 | 2,237,581 | ||||||
3.75%, 05/22/25 (Call 02/22/25) |
2,981 | 2,838,676 | ||||||
3.75%, 02/25/26 (Call 11/25/25) |
2,162 | 2,030,596 | ||||||
3.85%, 07/08/24 (Call 04/08/24) |
2,046 | 1,998,435 | ||||||
3.85%, 01/26/27 (Call 01/26/26) |
5,715 | 5,318,794 | ||||||
4.00%, 03/03/24 |
4,583 | 4,498,509 | ||||||
4.25%, 10/21/25 |
3,236 | 3,097,573 | ||||||
4.39%, 06/15/27 (Call 06/15/26)(b) |
1,415 | 1,330,127 | ||||||
5.70%, 11/01/24 |
1,020 | 1,019,951 | ||||||
5.95%, 01/15/27 |
520 | 524,653 | ||||||
HSBC Holdings PLC |
||||||||
0.98%, 05/24/25 (Call 05/24/24), (SOFR + 0.708%)(b) |
3,447 | 3,131,065 | ||||||
1.16%, 11/22/24 (Call 11/22/23), (SOFR + 0.580%)(b) |
2,125 | 1,993,928 | ||||||
1.59%, 05/24/27 (Call 05/24/26), (SOFR + 1.290%)(b) |
2,920 | 2,399,431 | ||||||
1.65%, 04/18/26 (Call 04/18/25), (SOFR + 1.538%)(b) |
2,841 | 2,480,693 | ||||||
2.10%, 06/04/26 (Call 06/04/25), (SOFR + 1.929%)(b) |
2,595 | 2,281,675 | ||||||
2.25%, 11/22/27 (Call 11/22/26), (SOFR + 1.100%)(b) |
1,875 | 1,543,176 | ||||||
2.63%, 11/07/25 (Call 11/07/24), (SOFR + 1.401%)(b) |
2,285 | 2,089,151 | ||||||
3.00%, 03/10/26 (Call 03/10/25), (SOFR + 1.430%)(b) |
250 | 227,234 | ||||||
3.03%, 11/22/23
(Call 11/22/22), |
1,041 | 1,038,878 | ||||||
3.60%, 05/25/23 |
2,635 | 2,610,352 | ||||||
3.80%, 03/11/25
(Call 03/11/24), |
4,057 | 3,875,838 | ||||||
3.90%, 05/25/26(a) |
2,570 | 2,341,231 | ||||||
3.95%, 05/18/24
(Call 05/18/23), |
2,552 | 2,510,492 | ||||||
4.18%, 12/09/25 (Call 12/09/24)(b) |
1,345 | 1,270,083 | ||||||
4.25%, 03/14/24(a) |
3,264 | 3,150,564 | ||||||
4.25%, 08/18/25(a) |
1,637 | 1,524,742 | ||||||
4.29%, 09/12/26
(Call 09/12/25), |
810 | 747,614 | ||||||
4.30%, 03/08/26(a) |
3,573 | 3,363,353 | ||||||
4.38%, 11/23/26 |
735 | 666,584 | ||||||
7.34%, 11/03/26 (Call 11/03/25) |
2,300 | 2,300,000 | ||||||
7.39%, 11/03/28 (Call 11/03/27) |
1,625 | 1,625,000 | ||||||
HSBC USA Inc. |
||||||||
3.50%, 06/23/24(a) |
1,254 | 1,211,020 | ||||||
3.75%, 05/24/24(a) |
2,115 | 2,054,973 | ||||||
Huntington Bancshares Inc./OH |
||||||||
2.63%, 08/06/24 (Call 07/06/24) |
1,232 | 1,175,749 | ||||||
4.00%, 05/15/25 (Call 04/15/25) |
1,295 | 1,246,895 | ||||||
Huntington National Bank (The) |
||||||||
3.55%, 10/06/23 (Call 09/06/23)(a) |
885 | 871,170 | ||||||
4.01%, 05/16/25 (Call 05/16/24)(a)(b) |
1,630 | 1,588,945 | ||||||
ING Groep NV |
||||||||
1.73%, 04/01/27
(Call 04/01/26), |
1,340 | 1,141,362 |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
3.55%, 04/09/24(a) |
$ | 2,012 | $ | 1,953,066 | ||||
3.87%, 03/28/26 (Call 03/28/25), (SOFR + 1.640%)(b) |
1,420 | 1,340,963 | ||||||
3.95%, 03/29/27 |
1,650 | 1,497,233 | ||||||
4.10%, 10/02/23(a) |
2,627 | 2,590,094 | ||||||
Intesa Sanpaolo SpA, 5.25%, 01/12/24(a) |
272 | 267,910 | ||||||
JPMorgan Chase & Co. |
||||||||
0.56%, 02/16/25
(Call 02/16/24), |
985 | 918,268 | ||||||
0.65%, 09/16/24
(Call 09/16/23), |
1,655 | 1,580,515 | ||||||
0.70%, 03/16/24
(Call 03/16/23), |
2,199 | 2,155,621 | ||||||
0.77%, 08/09/25
(Call 08/09/24), |
2,330 | 2,128,502 | ||||||
0.82%, 06/01/25
(Call 06/01/24), |
2,360 | 2,174,647 | ||||||
0.97%, 06/23/25
(Call 06/23/24), |
3,530 | 3,245,207 | ||||||
1.04%, 02/04/27
(Call 02/04/26), |
955 | 813,006 | ||||||
1.05%, 11/19/26
(Call 11/19/25), |
1,135 | 977,293 | ||||||
1.47%, 09/22/27
(Call 09/22/26), |
3,100 | 2,602,027 | ||||||
1.51%, 06/01/24
(Call 06/01/23), |
930 | 908,123 | ||||||
1.56%, 12/10/25
(Call 12/10/24), |
3,855 | 3,516,536 | ||||||
1.58%, 04/22/27
(Call 04/22/26), |
4,025 | 3,459,046 | ||||||
2.01%, 03/13/26
(Call 03/13/25), |
2,422 | 2,208,543 | ||||||
2.08%, 04/22/26
(Call 04/22/25), |
3,612 | 3,290,011 | ||||||
2.30%, 10/15/25
(Call 10/15/24), |
1,992 | 1,857,321 | ||||||
2.60%, 02/24/26
(Call 02/24/25), |
1,360 | 1,260,549 | ||||||
2.70%, 05/18/23 (Call 03/18/23)(a) |
2,068 | 2,046,158 | ||||||
2.95%, 10/01/26 (Call 07/01/26) |
3,710 | 3,387,710 | ||||||
2.95%, 02/24/28
(Call 02/24/27), |
2,495 | 2,194,993 | ||||||
3.13%, 01/23/25 (Call 10/23/24) |
2,989 | 2,861,032 | ||||||
3.20%, 01/25/23(a) |
3,157 | 3,147,580 | ||||||
3.20%, 06/15/26 (Call 03/15/26) |
1,670 | 1,544,675 | ||||||
3.22%, 03/01/25 (Call 03/01/24), |
||||||||
(3 mo. LIBOR US + 1.155%)(b) |
2,661 | 2,569,739 | ||||||
3.30%, 04/01/26 (Call 01/01/26)(a) |
3,200 | 2,985,023 | ||||||
3.38%, 05/01/23 |
2,063 | 2,045,620 | ||||||
3.56%, 04/23/24
(Call 04/23/23), |
601 | 595,120 | ||||||
3.63%, 05/13/24(a) |
2,424 | 2,374,144 | ||||||
3.80%, 07/23/24
(Call 07/23/23), |
2,974 | 2,931,133 | ||||||
3.85%, 06/14/25 (Call 06/14/24)(b) |
4,625 | 4,486,956 | ||||||
3.88%, 02/01/24 |
1,497 | 1,478,508 | ||||||
3.88%, 09/10/24 |
3,864 | 3,765,773 | ||||||
3.90%, 07/15/25 (Call 04/15/25) |
3,985 | 3,846,860 | ||||||
3.96%, 01/29/27
(Call 01/29/26), |
1,205 | 1,129,154 | ||||||
4.02%, 12/05/24
(Call 12/05/23), |
3,480 | 3,415,040 | ||||||
4.08%, 04/26/26
(Call 04/26/25), |
1,717 | 1,645,789 | ||||||
4.13%, 12/15/26(a) |
510 | 483,471 | ||||||
4.32%, 04/26/28
(Call 04/26/27), |
3,340 | 3,108,998 | ||||||
4.85%, 07/25/28 (Call 07/25/27)(b) |
3,000 | 2,850,920 | ||||||
7.63%, 10/15/26 |
110 | 118,635 | ||||||
8.00%, 04/29/27 |
15 | 16,377 | ||||||
KeyBank NA/Cleveland OH |
||||||||
0.42%, 01/03/24
(Call 01/03/23), |
708 | 701,437 | ||||||
0.43%, 06/14/24
(Call 06/14/23), |
525 | 507,974 | ||||||
1.25%, 03/10/23 |
887 | 876,022 | ||||||
3.30%, 06/01/25(a) |
1,380 | 1,312,805 | ||||||
3.38%, 03/07/23(a) |
1,074 | 1,069,431 | ||||||
3.40%, 05/20/26 |
1,330 | 1,223,625 | ||||||
4.15%, 08/08/25 |
380 | 367,194 |
22 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
KeyCorp |
||||||||
2.25%, 04/06/27(a) |
$ | 475 | $ | 407,750 | ||||
3.88%, 05/23/25 (Call 05/23/24)(b) |
1,530 | 1,486,190 | ||||||
4.15%, 10/29/25(a) |
1,255 | 1,208,684 | ||||||
Lloyds Banking Group PLC |
||||||||
0.70%, 05/11/24
(Call 05/11/23), |
990 | 960,237 | ||||||
1.63%, 05/11/27 (Call 05/11/26)(b) |
330 | 276,317 | ||||||
2.44%, 02/05/26 (Call 02/05/25)(a)(b) |
1,706 | 1,550,029 | ||||||
2.91%, 11/07/23
(Call 11/07/22), |
1,595 | 1,594,281 | ||||||
3.51%, 03/18/26 (Call 03/18/25)(b) |
1,725 | 1,596,688 | ||||||
3.75%, 01/11/27 |
960 | 858,143 | ||||||
3.75%, 03/18/28 (Call 03/18/27)(b) |
1,500 | 1,322,280 | ||||||
3.87%, 07/09/25 (Call 07/09/24)(b) |
2,133 | 2,033,185 | ||||||
3.90%, 03/12/24 |
2,269 | 2,211,043 | ||||||
4.05%, 08/16/23(a) |
2,466 | 2,436,986 | ||||||
4.45%, 05/08/25 |
2,080 | 1,993,542 | ||||||
4.50%, 11/04/24 |
1,402 | 1,348,745 | ||||||
4.58%, 12/10/25 |
843 | 773,992 | ||||||
4.65%, 03/24/26 |
1,037 | 953,001 | ||||||
4.72%, 08/11/26 (Call 08/11/25)(b) |
2,000 | 1,895,743 | ||||||
M&T Bank Corp., 3.55%, 07/26/23 (Call 06/26/23) |
1,352 | 1,337,919 | ||||||
Manufacturers & Traders Trust Co. |
||||||||
2.90%, 02/06/25 (Call 01/06/25)(a) |
1,555 | 1,473,313 | ||||||
3.40%, 08/17/27 |
50 | 44,416 | ||||||
Mitsubishi UFJ Financial Group Inc. |
||||||||
0.85%, 09/15/24 (Call 09/15/23)(b) |
1,917 | 1,830,510 | ||||||
0.95%, 07/19/25 (Call 07/19/24)(b) |
2,425 | 2,225,279 | ||||||
0.96%, 10/11/25 (Call 10/11/24)(b) |
965 | 877,704 | ||||||
1.41%, 07/17/25 |
2,089 | 1,864,891 | ||||||
1.54%, 07/20/27 (Call 07/20/26)(b) |
2,380 | 2,008,947 | ||||||
1.64%, 10/13/27 (Call 10/13/26)(b) |
240 | 201,970 | ||||||
2.19%, 02/25/25 |
3,307 | 3,050,284 | ||||||
2.34%, 01/19/28 (Call 01/19/27)(b) |
1,680 | 1,436,474 | ||||||
2.53%, 09/13/23 |
494 | 481,794 | ||||||
2.76%, 09/13/26 |
152 | 135,351 | ||||||
2.80%, 07/18/24 |
1,108 | 1,056,285 | ||||||
3.29%, 07/25/27 |
60 | 53,757 | ||||||
3.41%, 03/07/24 |
2,351 | 2,286,163 | ||||||
3.46%, 03/02/23(a) |
723 | 720,235 | ||||||
3.68%, 02/22/27(a) |
50 | 45,746 | ||||||
3.76%, 07/26/23(a) |
2,232 | 2,204,577 | ||||||
3.78%, 03/02/25 |
796 | 763,714 | ||||||
3.84%, 04/17/26 (Call 04/17/25)(b) |
655 | 622,824 | ||||||
3.85%, 03/01/26 |
2,553 | 2,400,118 | ||||||
4.08%, 04/19/28 (Call 04/19/27)(b) |
1,700 | 1,561,991 | ||||||
4.79%, 07/18/25 (Call 07/18/24)(b) |
1,085 | 1,064,507 | ||||||
5.02%, 07/20/28 (Call 07/20/27)(b) |
700 | 665,037 | ||||||
5.06%, 09/12/25 (Call 09/12/24)(b) |
1,645 | 1,620,477 | ||||||
Mizuho Financial Group Inc. |
||||||||
0.85%, 09/08/24
(Call 09/08/23), |
1,902 | 1,817,599 | ||||||
1.23%, 05/22/27 (Call 05/22/26)(b) |
1,920 | 1,612,825 | ||||||
1.24%, 07/10/24
(Call 07/10/23), |
2,216 | 2,142,682 | ||||||
1.55%, 07/09/27 (Call 07/09/26)(b) |
650 | 550,768 | ||||||
2.23%, 05/25/26
(Call 05/25/25), |
1,985 | 1,795,825 | ||||||
2.56%, 09/13/25
(Call 09/13/24), |
1,180 | 1,105,021 | ||||||
2.65%, 05/22/26 (Call 05/22/25)(a)(b) |
1,600 | 1,464,086 | ||||||
2.84%, 07/16/25
(Call 07/16/24), |
1,570 | 1,484,695 |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
||||||||
2.84%, 09/13/26(a) |
$ | 510 | $ | 453,625 | ||||
3.55%, 03/05/23 |
572 | 569,613 | ||||||
3.66%, 02/28/27 |
515 | 465,920 | ||||||
3.92%, 09/11/24
(Call 09/11/23), |
1,893 | 1,856,504 | ||||||
Morgan Stanley |
||||||||
0.53%, 01/25/24
(Call 01/25/23), |
2,940 | 2,896,992 | ||||||
0.56%, 11/10/23
(Call 11/10/22), |
972 | 970,982 | ||||||
0.73%, 04/05/24
(Call 04/05/23), |
327 | 318,986 | ||||||
0.79%, 01/22/25
(Call 01/22/24), |
1,718 | 1,603,807 | ||||||
0.79%, 05/30/25
(Call 05/30/24), |
3,050 | 2,791,549 | ||||||
0.99%, 12/10/26
(Call 12/10/25), |
1,980 | 1,695,645 | ||||||
1.16%, 10/21/25
(Call 10/21/24), |
3,005 | 2,724,843 | ||||||
1.51%, 07/20/27
(Call 07/20/26), |
2,735 | 2,319,425 | ||||||
1.59%, 05/04/27
(Call 05/04/26), |
2,300 | 1,968,853 | ||||||
2.19%, 04/28/26
(Call 04/28/25), |
5,620 | 5,131,001 | ||||||
2.48%, 01/21/28
(Call 01/21/27), |
1,740 | 1,504,534 | ||||||
2.63%, 02/18/26
(Call 02/18/25), |
5,600 | 5,189,968 | ||||||
2.72%, 07/22/25
(Call 07/22/24), |
1,584 | 1,493,510 | ||||||
3.13%, 01/23/23 |
3,205 | 3,193,895 | ||||||
3.13%, 07/27/26 |
1,550 | 1,414,364 | ||||||
3.62%, 04/17/25
(Call 04/17/24), |
1,795 | 1,733,756 | ||||||
3.63%, 01/20/27 |
4,490 | 4,137,310 | ||||||
3.70%, 10/23/24 |
3,691 | 3,578,018 | ||||||
3.74%, 04/24/24
(Call 04/24/23), |
620 | 613,867 | ||||||
3.75%, 02/25/23(a) |
2,405 | 2,392,821 | ||||||
3.88%, 01/27/26 |
4,635 | 4,405,740 | ||||||
3.95%, 04/23/27 |
5,125 | 4,735,220 | ||||||
4.00%, 07/23/25 |
3,874 | 3,729,230 | ||||||
4.10%, 05/22/23(a) |
2,905 | 2,890,569 | ||||||
4.21%, 04/20/28
(Call 04/20/27), |
985 | 911,631 | ||||||
4.35%, 09/08/26 |
2,710 | 2,578,935 | ||||||
4.68%, 07/17/26 (Call 07/17/25)(b) |
1,940 | 1,882,648 | ||||||
4.88%, 11/01/22 |
1,954 | 1,954,000 | ||||||
5.00%, 11/24/25 |
2,750 | 2,706,230 | ||||||
6.25%, 08/09/26 |
1,230 | 1,251,891 | ||||||
Series F, 3.88%, 04/29/24 |
4,462 | 4,366,557 | ||||||
Series I, 0.86%, 10/21/25 (Call 10/21/24), (SOFR + 0.745%)(b) |
4,609 | 4,160,064 | ||||||
National Australia Bank Ltd., 3.91%, 06/09/27 |
825 | 778,893 | ||||||
National Australia Bank Ltd./New York |
||||||||
1.88%, 12/13/22(a) |
890 | 887,542 | ||||||
2.50%, 07/12/26(a) |
1,105 | 1,004,230 | ||||||
2.88%, 04/12/23(a) |
380 | 377,025 | ||||||
3.00%, 01/20/23(a) |
714 | 711,488 | ||||||
3.38%, 01/14/26 |
1,570 | 1,484,227 | ||||||
3.50%, 06/09/25(a) |
1,110 | 1,065,623 | ||||||
3.63%, 06/20/23(a) |
630 | 625,336 | ||||||
National Bank of Canada |
||||||||
0.55%, 11/15/24 (Call 11/15/23)(a)(b) |
1,840 | 1,743,077 | ||||||
0.75%, 08/06/24(a) |
1,240 | 1,139,872 | ||||||
2.10%, 02/01/23 |
440 | 436,820 | ||||||
3.75%, 06/09/25 (Call 06/09/24)(b) |
1,635 | 1,576,538 | ||||||
Natwest Group PLC, 2.36%, 05/22/24 (Call 05/22/23)(a)(b) |
1,833 | 1,787,132 | ||||||
NatWest Group PLC |
||||||||
1.64%, 06/14/27 (Call 06/14/26)(b) |
1,100 | 913,553 | ||||||
4.27%, 03/22/25
(Call 03/22/24), |
3,411 | 3,288,222 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
4.52%, 06/25/24
(Call 06/25/23), |
$ | 2,240 | $ | 2,208,265 | ||||
4.80%, 04/05/26(a) |
2,518 | 2,373,643 | ||||||
Northern Trust Corp. |
||||||||
3.95%, 10/30/25 |
1,745 | 1,693,535 | ||||||
4.00%, 05/10/27 (Call 04/10/27)(a) |
2,155 | 2,059,750 | ||||||
PNC Bank NA |
||||||||
2.70%, 11/01/22 |
648 | 648,000 | ||||||
2.95%, 01/30/23 (Call 12/30/22) |
916 | 912,621 | ||||||
2.95%, 02/23/25 (Call 01/24/25) |
1,190 | 1,132,237 | ||||||
3.10%, 10/25/27 (Call 09/25/27) |
200 | 180,678 | ||||||
3.25%, 06/01/25 (Call 05/02/25) |
1,377 | 1,308,815 | ||||||
3.30%, 10/30/24 (Call 09/30/24)(a) |
971 | 934,606 | ||||||
3.50%, 06/08/23 (Call 05/09/23) |
934 | 925,964 | ||||||
3.80%, 07/25/23 (Call 06/25/23) |
939 | 929,426 | ||||||
3.88%, 04/10/25 (Call 03/10/25) |
1,130 | 1,086,991 | ||||||
4.20%, 11/01/25 (Call 10/02/25) |
900 | 868,692 | ||||||
2.50%, 08/27/24 (Call 07/27/24)(a) |
981 | 935,355 | ||||||
PNC Financial Services Group Inc. (The) |
||||||||
1.15%, 08/13/26 (Call 07/13/26)(a) |
1,690 | 1,451,040 | ||||||
2.20%, 11/01/24 (Call 10/02/24) |
1,703 | 1,605,909 | ||||||
2.60%, 07/23/26 (Call 05/23/26) |
730 | 659,099 | ||||||
2.85%, 11/09/22(c) |
429 | 428,848 | ||||||
3.15%, 05/19/27 (Call 04/19/27) |
560 | 503,889 | ||||||
3.50%, 01/23/24 (Call 12/23/23)(a) |
2,092 | 2,049,451 | ||||||
3.90%, 04/29/24 (Call 03/29/24) |
1,860 | 1,819,798 | ||||||
Regions Financial Corp., 2.25%, 05/18/25 (Call 04/18/25) |
824 | 758,426 | ||||||
Royal Bank of Canada |
||||||||
0.43%, 01/19/24 |
884 | 833,796 | ||||||
0.50%, 10/26/23(a) |
847 | 809,388 | ||||||
0.65%, 07/29/24 |
1,640 | 1,511,658 | ||||||
0.75%, 10/07/24 |
1,595 | 1,459,833 | ||||||
0.88%, 01/20/26 |
1,139 | 982,462 | ||||||
1.15%, 06/10/25(a) |
1,276 | 1,145,886 | ||||||
1.15%, 07/14/26 |
1,877 | 1,601,508 | ||||||
1.20%, 04/27/26 |
1,757 | 1,517,983 | ||||||
1.40%, 11/02/26 |
2,015 | 1,714,116 | ||||||
1.60%, 04/17/23(a) |
819 | 806,924 | ||||||
1.60%, 01/21/25 |
630 | 578,758 | ||||||
1.95%, 01/17/23(a) |
1,114 | 1,108,143 | ||||||
2.05%, 01/21/27 |
1,064 | 921,772 | ||||||
2.25%, 11/01/24 |
1,969 | 1,850,835 | ||||||
2.55%, 07/16/24 |
1,813 | 1,727,942 | ||||||
3.38%, 04/14/25(a) |
1,695 | 1,616,103 | ||||||
3.63%, 05/04/27 |
2,215 | 2,042,213 | ||||||
3.70%, 10/05/23 |
1,815 | 1,789,794 | ||||||
3.97%, 07/26/24(a) |
1,105 | 1,079,004 | ||||||
4.24%, 08/03/27 |
1,045 | 981,493 | ||||||
4.65%, 01/27/26 |
2,229 | 2,150,980 | ||||||
5.66%, 10/25/24 |
510 | 511,619 | ||||||
6.00%, 11/01/27 |
1,000 | 1,005,938 | ||||||
Santander Holdings USA Inc. |
||||||||
2.49%, 01/06/28
(Call 01/06/27), |
530 | 438,645 | ||||||
3.24%, 10/05/26 (Call 08/05/26) |
920 | 812,869 | ||||||
3.40%, 01/18/23 (Call 12/18/22)(a) |
1,033 | 1,030,749 | ||||||
3.45%, 06/02/25 (Call 05/02/25) |
968 | 904,825 | ||||||
3.50%, 06/07/24 (Call 05/07/24) |
3,000 | 2,876,313 | ||||||
4.26%, 06/09/25 (Call 06/09/24)(b) |
1,395 | 1,333,969 | ||||||
4.40%, 07/13/27 (Call 04/14/27) |
410 | 370,402 | ||||||
4.50%, 07/17/25 (Call 04/17/25)(a) |
1,481 | 1,417,516 |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
5.81%, 09/09/26 (Call 09/09/25)(a)(b) |
$ | 1,000 | $ | 964,380 | ||||
Santander UK Group Holdings PLC |
||||||||
1.09%, 03/15/25
(Call 03/15/24), |
955 | 877,111 | ||||||
1.53%, 08/21/26 (Call 08/21/25)(b) |
1,212 | 1,032,522 | ||||||
1.67%, 06/14/27
(Call 06/14/26), |
2,195 | 1,794,127 | ||||||
2.47%, 01/11/28
(Call 01/11/27), |
300 | 247,824 | ||||||
3.37%, 01/05/24
(Call 01/05/23), |
684 | 679,001 | ||||||
4.80%, 11/15/24
(Call 11/15/23), |
2,311 | 2,260,785 | ||||||
Santander UK PLC, 4.00%, 03/13/24 |
2,157 | 2,112,189 | ||||||
State Street Corp. |
||||||||
1.68%, 11/18/27
(Call 11/18/26), |
225 | 194,892 | ||||||
2.65%, 05/19/26 |
920 | 851,893 | ||||||
3.30%, 12/16/24(a) |
2,228 | 2,149,762 | ||||||
3.55%, 08/18/25 |
2,946 | 2,830,618 | ||||||
3.70%, 11/20/23 |
1,261 | 1,244,792 | ||||||
Sumitomo Mitsui Banking Corp. |
||||||||
3.00%, 01/18/23 |
200 | 199,159 | ||||||
3.40%, 07/11/24(a) |
1,175 | 1,130,451 | ||||||
3.65%, 07/23/25(a) |
40 | 37,832 | ||||||
3.95%, 07/19/23 |
275 | 273,202 | ||||||
3.95%, 01/10/24 |
825 | 809,178 | ||||||
Sumitomo Mitsui Financial Group Inc. |
||||||||
0.51%, 01/12/24(a) |
420 | 395,846 | ||||||
0.95%, 01/12/26 |
1,384 | 1,191,043 | ||||||
1.40%, 09/17/26(a) |
3,260 | 2,759,584 | ||||||
1.47%, 07/08/25 |
3,770 | 3,364,693 | ||||||
2.17%, 01/14/27 |
660 | 570,713 | ||||||
2.35%, 01/15/25 |
2,239 | 2,083,854 | ||||||
2.45%, 09/27/24 |
2,475 | 2,328,575 | ||||||
2.63%, 07/14/26(a) |
3,105 | 2,781,172 | ||||||
2.70%, 07/16/24 |
3,830 | 3,645,292 | ||||||
3.01%, 10/19/26 |
855 | 771,030 | ||||||
3.10%, 01/17/23(a) |
439 | 437,524 | ||||||
3.35%, 10/18/27(a) |
20 | 17,775 | ||||||
3.36%, 07/12/27(a) |
1,705 | 1,532,497 | ||||||
3.45%, 01/11/27 |
590 | 537,228 | ||||||
3.75%, 07/19/23(a) |
868 | 858,080 | ||||||
3.78%, 03/09/26 |
2,780 | 2,617,423 | ||||||
3.94%, 10/16/23 |
2,065 | 2,041,713 | ||||||
SVB Financial Group, 1.80%, 10/28/26 (Call 09/28/26) |
595 | 499,778 | ||||||
Svenska Handelsbanken AB, 3.90%, 11/20/23 |
1,861 | 1,836,154 | ||||||
Synchrony Bank |
||||||||
5.40%, 08/22/25 (Call 07/22/25) |
1,210 | 1,169,219 | ||||||
5.63%, 08/23/27 (Call 07/23/27) |
1,250 | 1,175,738 | ||||||
Toronto-Dominion Bank (The) |
||||||||
0.25%, 01/06/23(a) |
520 | 516,095 | ||||||
0.30%, 06/02/23(a) |
1,706 | 1,661,948 | ||||||
0.45%, 09/11/23 |
1,544 | 1,484,551 | ||||||
0.55%, 03/04/24 |
1,867 | 1,751,494 | ||||||
0.70%, 09/10/24 |
860 | 788,939 | ||||||
0.75%, 06/12/23 |
1,217 | 1,184,039 | ||||||
0.75%, 09/11/25(a) |
1,135 | 994,122 | ||||||
0.75%, 01/06/26 |
1,304 | 1,124,937 | ||||||
1.15%, 06/12/25 |
1,186 | 1,062,288 | ||||||
1.20%, 06/03/26 |
895 | 770,430 | ||||||
1.25%, 12/13/24 |
1,345 | 1,234,380 | ||||||
1.25%, 09/10/26 |
2,280 | 1,944,619 | ||||||
1.45%, 01/10/25 |
985 | 905,075 |
24 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
||||||||
1.90%, 12/01/22 |
$ | 1,356 | $ | 1,353,096 | ||||
1.95%, 01/12/27 |
1,285 | 1,114,042 | ||||||
2.35%, 03/08/24 |
2,130 | 2,046,506 | ||||||
2.65%, 06/12/24(a) |
2,626 | 2,515,613 | ||||||
2.80%, 03/10/27 |
2,360 | 2,102,022 | ||||||
3.25%, 03/11/24 |
2,905 | 2,825,926 | ||||||
3.50%, 07/19/23(a) |
1,490 | 1,474,694 | ||||||
3.77%, 06/06/25 |
2,155 | 2,068,535 | ||||||
4.11%, 06/08/27 |
1,550 | 1,450,295 | ||||||
4.29%, 09/13/24 |
2,135 | 2,091,496 | ||||||
4.69%, 09/15/27 |
3,025 | 2,892,876 | ||||||
Truist Bank |
||||||||
1.25%, 03/09/23 (Call 02/06/23) |
790 | 780,039 | ||||||
1.50%, 03/10/25 (Call 02/10/25)(a) |
1,930 | 1,764,804 | ||||||
2.15%, 12/06/24 (Call 11/05/24) |
2,352 | 2,201,570 | ||||||
2.75%, 05/01/23 (Call 04/01/23) |
723 | 715,797 | ||||||
3.00%, 02/02/23 (Call 01/02/23)(a) |
802 | 798,366 | ||||||
3.20%, 04/01/24 (Call 03/01/24) |
2,512 | 2,438,376 | ||||||
3.30%, 05/15/26 (Call 04/15/26) |
1,370 | 1,261,106 | ||||||
3.63%, 09/16/25 (Call 08/16/25) |
1,800 | 1,703,452 | ||||||
3.69%, 08/02/24
(Call 08/02/23), |
837 | 827,268 | ||||||
3.80%, 10/30/26 (Call 09/30/26) |
1,270 | 1,181,917 | ||||||
4.05%, 11/03/25 (Call 09/03/25) |
598 | 577,034 | ||||||
Truist Financial Corp. |
||||||||
1.13%, 08/03/27 (Call 06/03/27) |
30 | 24,316 | ||||||
1.20%, 08/05/25 (Call 07/03/25) |
911 | 812,444 | ||||||
1.27%, 03/02/27
(Call 03/02/26), |
1,353 | 1,167,891 | ||||||
2.20%, 03/16/23 (Call 02/13/23)(a) |
620 | 614,986 | ||||||
2.50%, 08/01/24 (Call 07/01/24) |
1,923 | 1,836,380 | ||||||
2.85%, 10/26/24 (Call 09/26/24) |
2,041 | 1,951,144 | ||||||
3.70%, 06/05/25 (Call 05/05/25) |
1,542 | 1,476,574 | ||||||
3.75%, 12/06/23 (Call 11/06/23) |
1,652 | 1,629,633 | ||||||
4.00%, 05/01/25 (Call 03/01/25) |
1,882 | 1,823,057 | ||||||
4.26%, 07/28/26 (Call 07/28/25)(b) |
2,000 | 1,929,115 | ||||||
5.90%, 10/28/26 |
1,300 | 1,300,222 | ||||||
U.S. Bancorp. |
||||||||
1.45%, 05/12/25 (Call 04/11/25)(a) |
2,255 | 2,060,449 | ||||||
2.22%, 01/27/28
(Call 01/27/27), |
2,600 | 2,268,066 | ||||||
2.40%, 07/30/24 (Call 06/28/24)(a) |
2,174 | 2,077,395 | ||||||
3.10%, 04/27/26 (Call 03/27/26) |
885 | 820,686 | ||||||
3.38%, 02/05/24 (Call 01/05/24) |
1,590 | 1,558,266 | ||||||
3.60%, 09/11/24 (Call 08/11/24)(a) |
1,776 | 1,730,008 | ||||||
3.70%, 01/30/24 (Call 12/29/23) |
790 | 778,269 | ||||||
3.95%, 11/17/25 (Call 10/17/25) |
1,090 | 1,051,454 | ||||||
5.73%, 10/21/26 |
525 | 526,453 | ||||||
Series V, 2.38%, 07/22/26 (Call 06/22/26) |
724 | 656,131 | ||||||
Series X, 3.15%, 04/27/27 (Call 03/27/27)(a) |
75 | 69,013 | ||||||
U.S. Bank NA/Cincinnati OH |
||||||||
1.95%, 01/09/23 (Call 12/09/22)(a) |
680 | 676,719 | ||||||
2.05%, 01/21/25 (Call 12/20/24) |
786 | 734,561 | ||||||
2.80%, 01/27/25 (Call 12/27/24)(a) |
1,133 | 1,078,067 | ||||||
2.85%, 01/23/23 (Call 12/23/22) |
606 | 603,870 | ||||||
3.40%, 07/24/23 (Call 06/23/23) |
1,399 | 1,383,736 | ||||||
Wells Fargo & Co. |
||||||||
0.81%, 05/19/25
(Call 05/19/24), |
4,610 | 4,265,968 | ||||||
1.65%, 06/02/24
(Call 06/02/23), |
3,291 | 3,215,655 | ||||||
2.16%, 02/11/26
(Call 02/11/25), |
4,826 | 4,432,560 | ||||||
2.19%, 04/30/26
(Call 04/30/25), |
3,838 | 3,493,962 |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
2.41%, 10/30/25
(Call 10/30/24), |
$ | 4,799 | $ | 4,471,954 | ||||
3.00%, 02/19/25 |
4,111 | 3,884,242 | ||||||
3.00%, 04/22/26 |
5,213 | 4,769,108 | ||||||
3.00%, 10/23/26 |
2,150 | 1,946,485 | ||||||
3.20%, 06/17/27
(Call 06/17/26), |
4,450 | 4,030,996 | ||||||
3.30%, 09/09/24 |
3,591 | 3,468,606 | ||||||
3.53%, 03/24/28
(Call 03/24/27), |
980 | 883,515 | ||||||
3.55%, 09/29/25 |
4,115 | 3,893,608 | ||||||
3.75%, 01/24/24 (Call 12/22/23) |
4,793 | 4,706,390 | ||||||
3.91%, 04/25/26
(Call 04/25/25), |
3,420 | 3,257,356 | ||||||
4.10%, 06/03/26(a) |
1,747 | 1,652,031 | ||||||
4.13%, 08/15/23(a) |
2,185 | 2,167,703 | ||||||
4.30%, 07/22/27 |
1,850 | 1,730,114 | ||||||
4.48%, 01/16/24(a) |
453 | 448,771 | ||||||
4.54%, 08/15/26 (Call 08/15/25)(b) |
3,975 | 3,823,013 | ||||||
Westpac Banking Corp. |
||||||||
1.02%, 11/18/24 |
1,890 | 1,743,627 | ||||||
1.15%, 06/03/26 |
2,335 | 2,027,263 | ||||||
2.00%, 01/13/23(a) |
912 | 907,603 | ||||||
2.35%, 02/19/25 |
1,456 | 1,368,806 | ||||||
2.70%, 08/19/26(a) |
1,755 | 1,603,377 | ||||||
2.75%, 01/11/23(a) |
492 | 490,021 | ||||||
2.85%, 05/13/26 |
1,300 | 1,202,688 | ||||||
3.30%, 02/26/24(a) |
2,397 | 2,349,861 | ||||||
3.35%, 03/08/27 |
1,370 | 1,268,493 | ||||||
3.65%, 05/15/23(a) |
1,154 | 1,147,759 | ||||||
3.74%, 08/26/25 |
1,345 | 1,297,214 | ||||||
4.04%, 08/26/27(a) |
200 | 189,923 | ||||||
|
|
|||||||
1,027,499,169 | ||||||||
Beverages — 1.3% | ||||||||
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc., 3.65%, 02/01/26 (Call 11/01/25) |
5,444 | 5,218,041 | ||||||
Coca-Cola Co. (The) |
||||||||
1.45%, 06/01/27 |
950 | 824,648 | ||||||
1.75%, 09/06/24 |
1,541 | 1,466,249 | ||||||
2.90%, 05/25/27 |
355 | 327,844 | ||||||
3.38%, 03/25/27(a) |
2,070 | 1,966,624 | ||||||
Constellation Brands Inc. |
||||||||
3.50%, 05/09/27 (Call 02/09/27) |
395 | 362,786 | ||||||
3.60%, 05/09/24(a) |
1,640 | 1,598,296 | ||||||
3.70%, 12/06/26 (Call 09/06/26) |
430 | 400,949 | ||||||
4.35%, 05/09/27 (Call 04/09/27) |
685 | 653,560 | ||||||
4.40%, 11/15/25 (Call 09/15/25)(a) |
1,089 | 1,060,323 | ||||||
Diageo Capital PLC |
||||||||
1.38%, 09/29/25 (Call 08/29/25) |
1,610 | 1,451,575 | ||||||
2.13%, 10/24/24 (Call 09/24/24) |
1,602 | 1,512,495 | ||||||
2.63%, 04/29/23 (Call 01/29/23) |
1,833 | 1,812,824 | ||||||
3.50%, 09/18/23 (Call 08/18/23) |
792 | 780,899 | ||||||
5.20%, 10/24/25 |
1,000 | 1,003,012 | ||||||
5.30%, 10/24/27 |
1,000 | 1,003,674 | ||||||
Keurig Dr Pepper Inc. |
||||||||
0.75%, 03/15/24 (Call 12/01/22) |
1,645 | 1,548,873 | ||||||
3.13%, 12/15/23 (Call 10/15/23) |
775 | 759,360 | ||||||
3.40%, 11/15/25 (Call 08/15/25)(a) |
1,162 | 1,102,109 | ||||||
4.42%, 05/25/25 (Call 03/25/25)(a) |
807 | 796,817 | ||||||
Molson Coors Beverage Co., 3.00%, 07/15/26 (Call 04/15/26) |
2,640 | 2,405,818 | ||||||
PepsiCo Inc. |
||||||||
0.40%, 10/07/23 |
810 | 776,879 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Beverages (continued) |
| |||||||
0.75%, 05/01/23 |
$ | 609 | $ | 597,790 | ||||
2.25%, 03/19/25 (Call 02/19/25) |
2,364 | 2,226,918 | ||||||
2.38%, 10/06/26 (Call 07/06/26) |
215 | 196,821 | ||||||
2.63%, 03/19/27 (Call 01/19/27) |
2,355 | 2,156,312 | ||||||
2.75%, 03/01/23(a) |
362 | 359,871 | ||||||
2.75%, 04/30/25 (Call 01/30/25) |
501 | 476,232 | ||||||
2.85%, 02/24/26 (Call 11/24/25) |
575 | 541,092 | ||||||
3.00%, 10/15/27 (Call 07/15/27) |
25 | 23,070 | ||||||
3.50%, 07/17/25 (Call 04/17/25) |
508 | 491,762 | ||||||
3.60%, 03/01/24 (Call 12/01/23) |
2,294 | 2,264,829 | ||||||
3.60%, 02/18/28 (Call 01/18/28) |
1,425 | 1,339,562 | ||||||
|
|
|||||||
39,507,914 | ||||||||
Biotechnology — 1.0% | ||||||||
Amgen Inc. |
||||||||
1.90%, 02/21/25 (Call 01/21/25) |
1,011 | 941,314 | ||||||
2.20%, 02/21/27 (Call 12/21/26) |
1,497 | 1,328,614 | ||||||
2.25%, 08/19/23 (Call 06/19/23)(a) |
1,824 | 1,783,882 | ||||||
2.60%, 08/19/26 (Call 05/19/26)(a) |
2,645 | 2,419,407 | ||||||
3.13%, 05/01/25 (Call 02/01/25)(a) |
1,513 | 1,446,276 | ||||||
3.63%, 05/22/24 (Call 02/22/24) |
1,475 | 1,445,432 | ||||||
Baxalta Inc., 4.00%, 06/23/25 (Call 03/23/25) |
1,608 | 1,556,785 | ||||||
Biogen Inc., 4.05%, 09/15/25 (Call 06/15/25) |
1,520 | 1,464,241 | ||||||
Gilead Sciences Inc. |
||||||||
0.75%, 09/29/23 (Call 11/14/22) |
1,731 | 1,666,312 | ||||||
1.20%, 10/01/27 (Call 08/01/27) |
200 | 164,447 | ||||||
2.50%, 09/01/23 (Call 07/01/23) |
1,449 | 1,420,834 | ||||||
2.95%, 03/01/27 (Call 12/01/26) |
1,050 | 955,091 | ||||||
3.50%, 02/01/25 (Call 11/01/24)(a) |
2,672 | 2,580,015 | ||||||
3.65%, 03/01/26 (Call 12/01/25) |
4,353 | 4,122,840 | ||||||
3.70%, 04/01/24 (Call 01/01/24)(a) |
2,773 | 2,721,716 | ||||||
Illumina Inc., 0.55%, 03/23/23 |
365 | 358,135 | ||||||
Royalty Pharma PLC |
||||||||
0.75%, 09/02/23 |
1,244 | 1,193,596 | ||||||
1.20%, 09/02/25 (Call 08/02/25) |
2,027 | 1,789,124 | ||||||
|
|
|||||||
29,358,061 | ||||||||
Building Materials — 0.1% | ||||||||
Carrier Global Corp. |
||||||||
2.24%, 02/15/25 (Call 01/15/25)(a) |
1,251 | 1,163,222 | ||||||
2.49%, 02/15/27 (Call 12/15/26) |
490 | 431,574 | ||||||
Fortune Brands Home & Security Inc. |
||||||||
4.00%, 09/21/23 (Call 08/21/23)(a) |
1,138 | 1,126,950 | ||||||
4.00%, 06/15/25 (Call 03/15/25) |
775 | 742,207 | ||||||
|
|
|||||||
3,463,953 | ||||||||
Chemicals — 1.0% | ||||||||
Air Products and Chemicals Inc. |
||||||||
1.50%, 10/15/25 (Call 09/15/25) |
1,456 | 1,320,215 | ||||||
1.85%, 05/15/27 (Call 03/15/27)(a) |
625 | 546,022 | ||||||
Albemarle Corp., 4.65%, 06/01/27 (Call 05/01/27) |
1,240 | 1,173,385 | ||||||
Celanese U.S. Holdings LLC |
||||||||
3.50%, 05/08/24 (Call 04/08/24) |
977 | 936,179 | ||||||
4.63%, 11/15/22 |
477 | 476,374 | ||||||
5.90%, 07/05/24 |
1,770 | 1,738,037 | ||||||
6.05%, 03/15/25 |
1,525 | 1,481,913 | ||||||
6.17%, 07/15/27 (Call 06/15/27) |
3,415 | 3,221,914 | ||||||
DuPont de Nemours Inc. |
||||||||
4.21%, 11/15/23 (Call 10/15/23) |
4,033 | 3,989,036 | ||||||
4.49%, 11/15/25 (Call 09/15/25) |
2,060 | 2,015,883 | ||||||
Eastman Chemical Co., 3.80%, 03/15/25 (Call 12/15/24) |
1,146 | 1,097,627 |
Security |
Par (000) |
Value | ||||||
Chemicals (continued) |
| |||||||
Ecolab Inc. |
||||||||
0.90%, 12/15/23 (Call 12/15/22) |
$ | 165 | $ | 158,029 | ||||
1.65%, 02/01/27 (Call 01/01/27)(a) |
795 | 692,893 | ||||||
2.70%, 11/01/26 (Call 08/01/26) |
415 | 379,683 | ||||||
EI du Pont de Nemours and Co., 1.70%, 07/15/25 (Call 06/15/25) |
1,238 | 1,133,506 | ||||||
FMC Corp., 3.20%, 10/01/26 (Call 08/01/26) |
205 | 187,856 | ||||||
Linde Inc./CT |
||||||||
2.70%, 02/21/23 (Call 11/21/22)(a) |
170 | 168,930 | ||||||
3.20%, 01/30/26 (Call 10/30/25) |
1,468 | 1,394,375 | ||||||
LYB International Finance II BV, 3.50%, 03/02/27 (Call 12/02/26)(a) |
75 | 68,024 | ||||||
LyondellBasell Industries NV, 5.75%, 04/15/24 (Call 01/15/24) |
1,763 | 1,768,172 | ||||||
Mosaic Co. (The) |
||||||||
3.25%, 11/15/22 |
350 | 349,769 | ||||||
4.25%, 11/15/23 (Call 08/15/23) |
326 | 322,292 | ||||||
Nutrien Ltd., 1.90%, 05/13/23(a) |
486 | 477,845 | ||||||
PPG Industries Inc., 1.20%, 03/15/26 (Call 02/15/26) |
1,122 | 972,598 | ||||||
Sherwin-Williams Co. (The) |
||||||||
3.13%, 06/01/24 (Call 04/01/24) |
1,312 | 1,271,128 | ||||||
3.45%, 06/01/27 (Call 03/01/27) |
2,255 | 2,071,929 | ||||||
4.05%, 08/08/24 |
470 | 461,063 | ||||||
Westlake Corp., 3.60%, 08/15/26 (Call 05/15/26) |
970 | 893,778 | ||||||
|
|
|||||||
30,768,455 | ||||||||
Commercial Services — 0.9% | ||||||||
Automatic Data Processing Inc., 3.38%, 09/15/25 (Call 06/15/25)(a) |
1,081 | 1,040,571 | ||||||
Cintas Corp. No. 2, 3.70%, 04/01/27 (Call 01/01/27)(a) |
240 | 226,138 | ||||||
Equifax Inc. |
||||||||
2.60%, 12/01/24 (Call 11/01/24) |
1,495 | 1,411,013 | ||||||
5.10%, 12/15/27 (Call 11/15/27) |
680 | 655,322 | ||||||
Global Payments Inc. |
||||||||
1.20%, 03/01/26 (Call 02/01/26) |
2,291 | 1,954,399 | ||||||
1.50%, 11/15/24 (Call 10/15/24)(a) |
280 | 256,267 | ||||||
2.15%, 01/15/27 (Call 12/15/26) |
1,295 | 1,104,906 | ||||||
2.65%, 02/15/25 (Call 01/15/25) |
882 | 818,652 | ||||||
3.75%, 06/01/23 (Call 03/01/23)(a) |
1,087 | 1,075,988 | ||||||
4.00%, 06/01/23 (Call 05/01/23)(a) |
1,186 | 1,178,066 | ||||||
4.80%, 04/01/26 (Call 01/01/26) |
581 | 556,826 | ||||||
4.95%, 08/15/27 (Call 07/15/27) |
475 | 450,966 | ||||||
Moody’s Corp. |
||||||||
3.75%, 03/24/25 (Call 02/24/25) |
877 | 848,702 | ||||||
4.88%, 02/15/24 (Call 11/15/23)(a) |
1,044 | 1,039,234 | ||||||
PayPal Holdings Inc. |
||||||||
1.65%, 06/01/25 (Call 05/01/25)(a) |
1,876 | 1,722,083 | ||||||
2.40%, 10/01/24 (Call 09/01/24)(a) |
2,130 | 2,026,843 | ||||||
2.65%, 10/01/26 (Call 08/01/26) |
2,545 | 2,322,547 | ||||||
3.90%, 06/01/27 (Call 05/01/27)(a) |
645 | 613,286 | ||||||
Quanta Services Inc., 0.95%, 10/01/24 (Call 12/01/22) |
1,870 | 1,699,963 | ||||||
RELX Capital Inc., 3.50%, 03/16/23 (Call 02/16/23) |
955 | 949,366 | ||||||
S&P Global Inc. |
||||||||
2.45%, 03/01/27 (Call 02/01/27)(a)(d) |
2,455 | 2,199,121 | ||||||
2.95%, 01/22/27 (Call 10/22/26)(a) |
985 | 901,604 | ||||||
Verisk Analytics Inc., 4.00%, 06/15/25 (Call 03/15/25)(a) |
1,048 | 1,010,559 | ||||||
Yale University, Series 2020, 0.87%, 04/15/25 (Call 03/15/25)(a) |
516 | 469,792 | ||||||
|
|
|||||||
26,532,214 |
26 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Computers — 3.5% |
| |||||||
Apple Inc. |
||||||||
0.55%, 08/20/25 (Call 07/20/25) |
$ | 2,118 | $ | 1,891,364 | ||||
0.70%, 02/08/26 (Call 01/08/26) |
3,560 | 3,117,890 | ||||||
0.75%, 05/11/23 |
1,402 | 1,373,062 | ||||||
1.13%, 05/11/25 (Call 04/11/25) |
3,342 | 3,066,168 | ||||||
1.80%, 09/11/24 (Call 08/11/24) |
2,012 | 1,910,658 | ||||||
2.05%, 09/11/26 (Call 07/11/26) |
1,095 | 989,999 | ||||||
2.40%, 01/13/23 (Call 12/13/22) |
543 | 540,703 | ||||||
2.40%, 05/03/23 |
5,232 | 5,177,346 | ||||||
2.45%, 08/04/26 (Call 05/04/26) |
2,325 | 2,139,660 | ||||||
2.50%, 02/09/25(a) |
2,145 | 2,045,588 | ||||||
2.75%, 01/13/25 (Call 11/13/24) |
2,008 | 1,926,528 | ||||||
2.85%, 02/23/23 (Call 12/23/22) |
1,988 | 1,978,846 | ||||||
2.85%, 05/11/24 (Call 03/11/24) |
3,065 | 2,981,664 | ||||||
2.90%, 09/12/27 (Call 06/12/27)(a) |
450 | 413,002 | ||||||
3.00%, 02/09/24 (Call 12/09/23) |
2,949 | 2,888,310 | ||||||
3.00%, 06/20/27 (Call 03/20/27)(a) |
410 | 382,064 | ||||||
3.20%, 05/13/25 |
3,370 | 3,244,425 | ||||||
3.20%, 05/11/27 (Call 02/11/27)(a) |
1,565 | 1,466,041 | ||||||
3.25%, 02/23/26 (Call 11/23/25) |
4,665 | 4,443,864 | ||||||
3.35%, 02/09/27 (Call 11/09/26) |
4,505 | 4,272,057 | ||||||
3.45%, 05/06/24 |
3,828 | 3,757,826 | ||||||
Dell International LLC/EMC Corp. |
||||||||
4.00%, 07/15/24 (Call 06/15/24) |
1,703 | 1,662,529 | ||||||
4.90%, 10/01/26 (Call 08/01/26) |
3,025 | 2,903,452 | ||||||
5.45%, 06/15/23 (Call 04/15/23) |
2,101 | 2,103,895 | ||||||
5.85%, 07/15/25 (Call 06/15/25) |
1,917 | 1,918,252 | ||||||
6.02%, 06/15/26 (Call 03/15/26) |
5,345 | 5,335,177 | ||||||
6.10%, 07/15/27 (Call 05/15/27)(a) |
445 | 445,319 | ||||||
DXC Technology Co., 1.80%, 09/15/26 (Call 08/15/26)(a) |
935 | 802,530 | ||||||
Fortinet Inc., 1.00%, 03/15/26 (Call 02/15/26) |
1,293 | 1,113,907 | ||||||
Hewlett Packard Enterprise Co. |
||||||||
1.45%, 04/01/24 (Call 03/01/24) |
1,833 | 1,735,298 | ||||||
1.75%, 04/01/26 (Call 03/01/26)(a) |
1,905 | 1,685,848 | ||||||
2.25%, 04/01/23 (Call 03/01/23) |
529 | 523,709 | ||||||
4.45%, 10/02/23 (Call 09/02/23) |
1,883 | 1,868,117 | ||||||
4.90%, 10/15/25 (Call 07/15/25)(a) |
2,475 | 2,430,297 | ||||||
HP Inc. |
||||||||
1.45%, 06/17/26 (Call 05/17/26)(a) |
1,992 | 1,704,138 | ||||||
2.20%, 06/17/25 (Call 05/17/25) |
2,041 | 1,874,285 | ||||||
3.00%, 06/17/27 (Call 04/17/27)(a) |
235 | 206,940 | ||||||
4.75%, 01/15/28 (Call 12/15/27) |
300 | 280,212 | ||||||
International Business Machines Corp. |
||||||||
1.70%, 05/15/27 (Call 03/15/27) |
1,965 | 1,688,089 | ||||||
2.20%, 02/09/27 (Call 01/09/27) |
535 | 474,730 | ||||||
3.00%, 05/15/24 |
3,813 | 3,699,846 | ||||||
3.30%, 05/15/26 |
4,250 | 3,985,477 | ||||||
3.30%, 01/27/27 |
547 | 507,322 | ||||||
3.38%, 08/01/23(a) |
1,818 | 1,797,738 | ||||||
3.45%, 02/19/26(a) |
1,419 | 1,346,249 | ||||||
3.63%, 02/12/24 |
3,253 | 3,196,690 | ||||||
4.00%, 07/27/25(a) |
700 | 682,348 | ||||||
4.15%, 07/27/27 (Call 06/27/27)(a) |
1,095 | 1,046,078 | ||||||
7.00%, 10/30/25 |
310 | 325,179 | ||||||
Kyndryl Holdings Inc., 2.05%, 10/15/26 (Call 09/15/26) |
2,030 | 1,587,602 | ||||||
Leidos Inc. |
||||||||
2.95%, 05/15/23 (Call 04/15/23) |
940 | 928,966 | ||||||
3.63%, 05/15/25 (Call 04/15/25) |
1,105 | 1,052,924 | ||||||
NetApp Inc. |
||||||||
1.88%, 06/22/25 (Call 05/22/25) |
1,666 | 1,508,978 |
Security |
Par (000) |
Value | ||||||
Computers (continued) |
| |||||||
2.38%, 06/22/27 (Call 04/22/27)(a) |
$ | 670 | $ | 588,710 | ||||
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)(a) |
2,440 | 2,255,296 | ||||||
|
|
|||||||
105,273,192 | ||||||||
Cosmetics & Personal Care — 0.7% | ||||||||
Colgate-Palmolive Co. |
||||||||
1.95%, 02/01/23 |
104 | 103,292 | ||||||
3.10%, 08/15/25(a) |
125 | 119,961 | ||||||
3.10%, 08/15/27 (Call 07/15/27) |
230 | 214,674 | ||||||
3.25%, 03/15/24 |
732 | 719,556 | ||||||
Estee Lauder Companies Inc. (The) |
||||||||
2.00%, 12/01/24 (Call 11/01/24) |
1,551 | 1,471,209 | ||||||
3.15%, 03/15/27 (Call 12/15/26) |
90 | 83,202 | ||||||
GSK Consumer Healthcare Capital U.K. PLC, 3.13%, 03/24/25 |
2,140 | 2,015,377 | ||||||
GSK Consumer Healthcare Capital U.S. LLC |
||||||||
3.02%, 03/24/24 |
515 | 496,875 | ||||||
3.38%, 03/24/27 |
2,910 | 2,631,823 | ||||||
Procter & Gamble Co. (The) |
||||||||
0.55%, 10/29/25 |
1,147 | 1,014,795 | ||||||
1.00%, 04/23/26(a) |
482 | 426,346 | ||||||
1.90%, 02/01/27 |
625 | 560,409 | ||||||
2.45%, 11/03/26(a) |
815 | 751,056 | ||||||
2.70%, 02/02/26 |
1,180 | 1,111,558 | ||||||
2.80%, 03/25/27 |
2,045 | 1,890,128 | ||||||
2.85%, 08/11/27 |
120 | 110,451 | ||||||
3.10%, 08/15/23(a) |
369 | 363,631 | ||||||
Unilever Capital Corp. |
||||||||
0.38%, 09/14/23(a) |
355 | 341,506 | ||||||
0.63%, 08/12/24 (Call 12/01/22) |
510 | 474,361 | ||||||
2.00%, 07/28/26(a) |
100 | 90,037 | ||||||
2.60%, 05/05/24 (Call 03/05/24) |
1,783 | 1,723,422 | ||||||
2.90%, 05/05/27 (Call 02/05/27) |
2,080 | 1,900,515 | ||||||
3.10%, 07/30/25 |
890 | 848,158 | ||||||
3.13%, 03/22/23 (Call 02/22/23)(a) |
628 | 624,576 | ||||||
3.25%, 03/07/24 (Call 02/07/24) |
1,481 | 1,451,350 | ||||||
|
|
|||||||
21,538,268 | ||||||||
Distribution & Wholesale — 0.0% | ||||||||
WW Grainger Inc., 1.85%, 02/15/25 (Call 01/15/25) |
1,251 | 1,164,579 | ||||||
|
|
|||||||
Diversified Financial Services — 5.3% | ||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
||||||||
1.15%, 10/29/23 |
2,420 | 2,292,096 | ||||||
1.65%, 10/29/24 (Call 09/29/24) |
770 | 698,897 | ||||||
1.75%, 01/30/26 (Call 12/30/25) |
1,335 | 1,138,253 | ||||||
2.45%, 10/29/26 (Call 09/29/26) |
6,415 | 5,426,695 | ||||||
2.88%, 08/14/24 (Call 07/14/24)(a) |
1,148 | 1,075,485 | ||||||
3.15%, 02/15/24 (Call 01/15/24) |
792 | 759,180 | ||||||
3.30%, 01/23/23 (Call 12/23/22) |
1,022 | 1,017,506 | ||||||
3.50%, 01/15/25 (Call 11/15/24) |
1,099 | 1,031,129 | ||||||
3.65%, 07/21/27 (Call 04/21/27) |
350 | 304,350 | ||||||
4.13%, 07/03/23 (Call 06/03/23)(a) |
1,679 | 1,657,874 | ||||||
4.45%, 10/01/25 (Call 08/01/25)(a) |
565 | 530,032 | ||||||
4.45%, 04/03/26 (Call 02/03/26) |
1,070 | 990,319 | ||||||
4.50%, 09/15/23 (Call 08/15/23)(a) |
1,724 | 1,692,542 | ||||||
4.88%, 01/16/24 (Call 12/16/23) |
1,211 | 1,188,433 | ||||||
6.50%, 07/15/25 (Call 06/15/25)(a) |
1,637 | 1,612,503 | ||||||
Series 3NC1, 1.75%, 10/29/24 (Call 12/01/22) |
1,480 | 1,339,320 | ||||||
Air Lease Corp. |
||||||||
0.70%, 02/15/24 (Call 01/15/24) |
914 | 853,501 | ||||||
0.80%, 08/18/24 (Call 07/18/24) |
860 | 782,118 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) |
| |||||||
1.88%, 08/15/26 (Call 07/15/26) |
$ | 3,242 | $ | 2,719,405 | ||||
2.20%, 01/15/27 (Call 12/15/26)(a) |
800 | 669,215 | ||||||
2.25%, 01/15/23 |
1,048 | 1,041,174 | ||||||
2.30%, 02/01/25 (Call 01/01/25)(a) |
1,079 | 987,284 | ||||||
2.75%, 01/15/23 (Call 12/15/22)(a) |
1,030 | 1,024,204 | ||||||
2.88%, 01/15/26 (Call 12/15/25)(a) |
1,815 | 1,613,771 | ||||||
3.00%, 09/15/23 (Call 07/15/23) |
457 | 446,311 | ||||||
3.25%, 03/01/25 (Call 01/01/25) |
925 | 860,551 | ||||||
3.38%, 07/01/25 (Call 06/01/25)(a) |
1,313 | 1,211,294 | ||||||
3.63%, 04/01/27 (Call 01/01/27)(a) |
303 | 266,919 | ||||||
3.75%, 06/01/26 (Call 04/01/26) |
615 | 557,575 | ||||||
3.88%, 07/03/23 (Call 06/03/23) |
1,115 | 1,102,464 | ||||||
4.25%, 02/01/24 (Call 01/01/24) |
1,402 | 1,370,337 | ||||||
4.25%, 09/15/24 (Call 06/15/24) |
977 | 950,187 | ||||||
Aircastle Ltd. |
||||||||
4.13%, 05/01/24 (Call 02/01/24) |
430 | 409,979 | ||||||
4.25%, 06/15/26 (Call 04/15/26) |
910 | 803,958 | ||||||
4.40%, 09/25/23 (Call 08/25/23)(a) |
135 | 131,907 | ||||||
5.00%, 04/01/23(a) |
1,003 | 994,721 | ||||||
Ally Financial Inc. |
||||||||
1.45%, 10/02/23 (Call 09/02/23) |
1,872 | 1,795,454 | ||||||
3.05%, 06/05/23 (Call 05/05/23) |
953 | 935,949 | ||||||
3.88%, 05/21/24 (Call 04/21/24) |
1,270 | 1,227,200 | ||||||
4.63%, 03/30/25 |
1,041 | 1,004,149 | ||||||
4.75%, 06/09/27 (Call 05/09/27)(a) |
900 | 821,412 | ||||||
5.13%, 09/30/24 |
1,575 | 1,554,021 | ||||||
5.80%, 05/01/25 (Call 04/01/25)(a) |
1,341 | 1,329,098 | ||||||
American Express Co. |
||||||||
0.75%, 11/03/23 |
455 | 435,166 | ||||||
1.65%, 11/04/26 (Call 10/04/26) |
1,160 | 997,761 | ||||||
2.25%, 03/04/25 (Call 02/01/25)(a) |
4,085 | 3,791,219 | ||||||
2.50%, 07/30/24 (Call 06/30/24) |
2,615 | 2,481,783 | ||||||
2.55%, 03/04/27 (Call 02/01/27) |
2,545 | 2,236,020 | ||||||
2.65%, 12/02/22 |
1,102 | 1,100,548 | ||||||
3.00%, 10/30/24 (Call 09/29/24)(a) |
2,520 | 2,407,325 | ||||||
3.13%, 05/20/26 (Call 04/20/26) |
1,065 | 985,648 | ||||||
3.30%, 05/03/27 (Call 04/03/27)(a) |
1,845 | 1,670,295 | ||||||
3.38%, 05/03/24 |
2,090 | 2,026,912 | ||||||
3.40%, 02/27/23 (Call 01/27/23)(a) |
877 | 873,736 | ||||||
3.40%, 02/22/24 (Call 01/22/24) |
2,097 | 2,045,589 | ||||||
3.63%, 12/05/24 (Call 11/04/24) |
575 | 553,596 | ||||||
3.70%, 08/03/23 (Call 07/03/23) |
2,563 | 2,539,908 | ||||||
3.95%, 08/01/25 (Call 07/01/25) |
2,290 | 2,198,070 | ||||||
4.20%, 11/06/25 (Call 10/06/25) |
880 | 852,348 | ||||||
5.85%, 11/05/27 |
745 | 744,464 | ||||||
Ameriprise Financial Inc. |
||||||||
2.88%, 09/15/26 (Call 06/15/26) |
195 | 178,724 | ||||||
3.00%, 04/02/25 (Call 03/02/25) |
1,387 | 1,317,388 | ||||||
3.70%, 10/15/24 |
698 | 677,049 | ||||||
4.00%, 10/15/23 |
921 | 911,172 | ||||||
Brookfield Finance Inc. |
||||||||
3.90%, 01/25/28 (Call 10/25/27)(a) |
320 | 286,490 | ||||||
4.00%, 04/01/24 (Call 02/01/24) |
1,299 | 1,275,465 | ||||||
4.25%, 06/02/26 (Call 03/02/26)(a) |
250 | 237,669 | ||||||
Capital One Financial Corp. |
||||||||
1.34%, 12/06/24
(Call 12/06/23), |
500 | 472,704 | ||||||
1.88%, 11/02/27
(Call 11/02/26), |
2,700 | 2,246,107 | ||||||
2.60%, 05/11/23 (Call 04/11/23)(a) |
1,190 | 1,174,107 | ||||||
2.64%, 03/03/26
(Call 03/03/25), |
175 | 160,424 | ||||||
3.20%, 01/30/23 (Call 12/30/22)(a) |
1,924 | 1,915,212 |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) |
| |||||||
3.20%, 02/05/25 (Call 01/05/25) |
$ | 1,848 | $ | 1,745,923 | ||||
3.30%, 10/30/24 (Call 09/30/24)(a) |
2,744 | 2,619,024 | ||||||
3.50%, 06/15/23 |
1,398 | 1,384,061 | ||||||
3.65%, 05/11/27 (Call 04/11/27)(a) |
95 | 86,158 | ||||||
3.75%, 04/24/24 (Call 03/24/24)(a) |
594 | 578,108 | ||||||
3.75%, 07/28/26 (Call 06/28/26) |
726 | 663,644 | ||||||
3.75%, 03/09/27 (Call 02/09/27) |
505 | 460,154 | ||||||
3.90%, 01/29/24 (Call 12/29/23) |
2,024 | 1,983,262 | ||||||
4.17%, 05/09/25 (Call 05/09/24)(b) |
400 | 384,329 | ||||||
4.20%, 10/29/25 (Call 09/29/25) |
943 | 893,931 | ||||||
4.25%, 04/30/25 (Call 03/31/25) |
1,106 | 1,064,708 | ||||||
4.99%, 07/24/26 (Call 07/24/25)(b) |
760 | 733,392 | ||||||
Cboe Global Markets Inc., 3.65%, 01/12/27 (Call 10/12/26) |
400 | 374,437 | ||||||
Charles Schwab Corp. (The) |
||||||||
0.75%, 03/18/24 (Call 02/18/24) |
2,248 | 2,121,795 | ||||||
0.90%, 03/11/26 (Call 02/11/26) |
2,470 | 2,137,606 | ||||||
1.15%, 05/13/26 (Call 04/13/26) |
1,559 | 1,351,533 | ||||||
2.45%, 03/03/27 (Call 02/03/27)(a) |
1,160 | 1,034,896 | ||||||
2.65%, 01/25/23 (Call 12/25/22) |
167 | 166,310 | ||||||
3.20%, 03/02/27 (Call 12/02/26) |
155 | 142,474 | ||||||
3.30%, 04/01/27 (Call 01/01/27) |
130 | 119,598 | ||||||
3.55%, 02/01/24 (Call 01/01/24) |
946 | 927,820 | ||||||
3.85%, 05/21/25 (Call 03/21/25) |
1,231 | 1,195,068 | ||||||
4.20%, 03/24/25 (Call 02/24/25)(a) |
1,608 | 1,583,829 | ||||||
CME Group Inc., 3.00%, 03/15/25 (Call 12/15/24) |
1,266 | 1,209,435 | ||||||
Discover Financial Services |
||||||||
3.75%, 03/04/25 (Call 12/04/24) |
270 | 256,715 | ||||||
3.85%, 11/21/22 |
549 | 548,797 | ||||||
3.95%, 11/06/24 (Call 08/06/24) |
1,540 | 1,483,161 | ||||||
4.10%, 02/09/27 (Call 11/09/26) |
585 | 532,076 | ||||||
4.50%, 01/30/26 (Call 11/30/25)(a) |
1,270 | 1,191,561 | ||||||
Intercontinental Exchange Inc. |
||||||||
3.10%, 09/15/27 (Call 06/15/27) |
25 | 22,674 | ||||||
3.65%, 05/23/25 (Call 04/23/25)(a) |
1,245 | 1,204,657 | ||||||
3.75%, 12/01/25 (Call 09/01/25)(a) |
880 | 844,679 | ||||||
4.00%, 09/15/27 (Call 08/15/27)(a) |
4,510 | 4,272,493 | ||||||
Invesco Finance PLC |
||||||||
3.75%, 01/15/26 |
265 | 250,631 | ||||||
4.00%, 01/30/24 |
821 | 806,148 | ||||||
Jefferies Group LLC/Jefferies Group Capital Finance Inc., 4.85%, 01/15/27(a) |
1,190 | 1,116,509 | ||||||
Mastercard Inc. |
||||||||
2.00%, 03/03/25 (Call 02/03/25)(a) |
1,727 | 1,622,458 | ||||||
2.95%, 11/21/26 (Call 08/21/26) |
545 | 506,315 | ||||||
3.30%, 03/26/27 (Call 01/26/27) |
1,680 | 1,573,875 | ||||||
3.38%, 04/01/24 |
1,863 | 1,827,442 | ||||||
Nasdaq Inc. |
||||||||
0.45%, 12/21/22 (Call 11/14/22) |
1,408 | 1,397,831 | ||||||
3.85%, 06/30/26 (Call 03/30/26)(a) |
213 | 202,847 | ||||||
Nomura Holdings Inc. |
||||||||
1.65%, 07/14/26 |
2,728 | 2,317,451 | ||||||
1.85%, 07/16/25 |
635 | 571,094 | ||||||
2.33%, 01/22/27 |
1,095 | 933,104 | ||||||
2.65%, 01/16/25 |
1,857 | 1,738,353 | ||||||
5.10%, 07/03/25(a) |
50 | 48,953 | ||||||
5.39%, 07/06/27(a) |
1,045 | 1,006,501 | ||||||
ORIX Corp. |
||||||||
3.25%, 12/04/24 |
670 | 640,629 | ||||||
3.70%, 07/18/27 |
50 | 45,822 |
28 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) |
| |||||||
4.05%, 01/16/24(a) |
$ | 285 | $ | 280,794 | ||||
5.00%, 09/13/27 |
635 | 620,307 | ||||||
Synchrony Financial |
||||||||
3.70%, 08/04/26 (Call 05/04/26)(a) |
345 | 309,679 | ||||||
4.25%, 08/15/24 (Call 05/15/24) |
700 | 675,890 | ||||||
4.38%, 03/19/24 (Call 02/19/24) |
1,245 | 1,216,976 | ||||||
4.50%, 07/23/25 (Call 04/23/25) |
1,070 | 1,011,277 | ||||||
4.88%, 06/13/25 (Call 05/13/25) |
1,420 | 1,363,830 | ||||||
Visa Inc. |
||||||||
0.75%, 08/15/27 (Call 06/15/27) |
100 | 83,171 | ||||||
1.90%, 04/15/27 (Call 02/15/27) |
2,835 | 2,499,794 | ||||||
2.75%, 09/15/27 (Call 06/15/27) |
30 | 27,235 | ||||||
2.80%, 12/14/22 (Call 12/01/22) |
2,822 | 2,817,399 | ||||||
3.15%, 12/14/25 (Call 09/14/25) |
3,865 | 3,683,304 | ||||||
Western Union Co. (The) |
||||||||
1.35%, 03/15/26 (Call 02/15/26) |
1,367 | 1,170,928 | ||||||
2.85%, 01/10/25 (Call 12/10/24) |
920 | 863,635 | ||||||
|
|
|||||||
157,560,161 | ||||||||
Electric — 3.6% | ||||||||
AES Corp. (The), 1.38%, 01/15/26 (Call 12/15/25) |
1,197 | 1,034,671 | ||||||
Alabama Power Co., 3.75%, 09/01/27 (Call 08/01/27)(a) |
535 | 503,139 | ||||||
Ameren Corp., 1.95%, 03/15/27 (Call 02/15/27) |
1,005 | 865,389 | ||||||
American Electric Power Co. Inc. |
||||||||
2.03%, 03/15/24 |
720 | 686,821 | ||||||
5.75%, 11/01/27 |
800 | 797,880 | ||||||
Avangrid Inc. |
||||||||
3.15%, 12/01/24 (Call 10/01/24) |
1,448 | 1,376,698 | ||||||
3.20%, 04/15/25 (Call 03/15/25) |
1,254 | 1,183,300 | ||||||
Berkshire Hathaway Energy Co. |
||||||||
3.75%, 11/15/23 (Call 08/15/23) |
984 | 971,143 | ||||||
4.05%, 04/15/25 (Call 03/15/25)(a) |
2,258 | 2,210,797 | ||||||
Black Hills Corp. |
||||||||
1.04%, 08/23/24 (Call 11/16/22) |
625 | 577,028 | ||||||
4.25%, 11/30/23 (Call 08/30/23)(a) |
210 | 208,677 | ||||||
CenterPoint Energy Inc. |
||||||||
1.45%, 06/01/26 (Call 05/01/26) |
880 | 765,457 | ||||||
2.50%, 09/01/24 (Call 08/01/24) |
1,130 | 1,071,804 | ||||||
Commonwealth Edison Co., 2.55%, 06/15/26 (Call 03/15/26) |
565 | 518,653 | ||||||
Connecticut Light & Power Co. (The), Series A, 3.20%, 03/15/27 (Call 12/15/26) |
215 | 198,245 | ||||||
Consolidated Edison Inc., Series A, 0.65%, 12/01/23 (Call 12/01/22)(a) |
566 | 540,191 | ||||||
Constellation Energy Generation LLC, 3.25%, 06/01/25 (Call 05/01/25) |
1,357 | 1,286,212 | ||||||
Delmarva Power & Light Co., 3.50%, 11/15/23 (Call 08/15/23) |
245 | 240,714 | ||||||
Dominion Energy Inc. |
||||||||
3.07%, 08/15/24(c) |
1,343 | 1,281,918 | ||||||
3.90%, 10/01/25 (Call 07/01/25)(a) |
1,095 | 1,049,293 | ||||||
Series A, 1.45%, 04/15/26 (Call 03/15/26) |
1,095 | 956,924 | ||||||
DTE Energy Co. |
||||||||
2.25%, 11/01/22(a) |
610 | 610,000 | ||||||
2.85%, 10/01/26 (Call 07/01/26) |
620 | 561,420 | ||||||
4.22%, 01/11/24(c) |
1,205 | 1,176,430 | ||||||
Series C, 2.53%, 10/01/24(c) |
1,080 | 1,023,811 | ||||||
Series F, 1.05%, 06/01/25 (Call 05/01/25) |
1,058 | 944,268 | ||||||
Series H, 0.55%, 11/01/22 |
1,015 | 1,015,000 |
Security |
Par (000) |
Value | ||||||
Electric (continued) |
| |||||||
Duke Energy Carolinas LLC |
||||||||
2.50%, 03/15/23 (Call 01/15/23)(a) |
$ | 764 | $ | 757,460 | ||||
3.05%, 03/15/23 (Call 02/15/23) |
899 | 894,085 | ||||||
Duke Energy Corp. |
||||||||
0.90%, 09/15/25 (Call 08/15/25) |
1,475 | 1,299,923 | ||||||
2.65%, 09/01/26 (Call 06/01/26) |
960 | 867,943 | ||||||
3.15%, 08/15/27 (Call 05/15/27) |
5 | 4,507 | ||||||
3.75%, 04/15/24 (Call 01/15/24) |
1,976 | 1,941,443 | ||||||
4.30%, 03/15/28 (Call 02/15/28) |
905 | 848,953 | ||||||
Duke Energy Florida LLC, 3.20%, 01/15/27 (Call 10/15/26) |
115 | 106,594 | ||||||
Duke Energy Progress LLC, 3.25%, 08/15/25 (Call 05/15/25) |
766 | 729,858 | ||||||
Edison International |
||||||||
3.55%, 11/15/24 (Call 10/15/24)(a) |
366 | 351,652 | ||||||
5.75%, 06/15/27 (Call 04/15/27)(a) |
555 | 541,284 | ||||||
Emera U.S. Finance LP, 3.55%, 06/15/26 (Call 03/15/26) |
1,180 | 1,089,214 | ||||||
Entergy Arkansas LLC, 3.50%, 04/01/26 (Call 01/01/26)(a) |
895 | 847,621 | ||||||
Entergy Corp. |
||||||||
0.90%, 09/15/25 (Call 08/15/25) |
1,232 | 1,079,499 | ||||||
2.95%, 09/01/26 (Call 06/01/26) |
683 | 620,988 | ||||||
Entergy Louisiana LLC |
||||||||
0.62%, 11/17/23 (Call 12/01/22) |
763 | 726,559 | ||||||
0.95%, 10/01/24 (Call 12/01/22) |
4,205 | 3,876,335 | ||||||
Evergy Inc., 2.45%, 09/15/24 (Call 08/15/24) |
1,311 | 1,235,795 | ||||||
Eversource Energy |
||||||||
2.90%, 03/01/27 (Call 02/01/27) |
1,550 | 1,390,412 | ||||||
4.20%, 06/27/24 |
1,345 | 1,320,068 | ||||||
4.60%, 07/01/27 (Call 06/01/27) |
810 | 778,329 | ||||||
Exelon Corp. |
||||||||
2.75%, 03/15/27 (Call 02/15/27)(a)(d) |
480 | 429,387 | ||||||
3.40%, 04/15/26 (Call 01/15/26) |
1,765 | 1,649,998 | ||||||
3.95%, 06/15/25 (Call 03/15/25) |
1,216 | 1,170,552 | ||||||
Florida Power & Light Co. |
||||||||
2.75%, 06/01/23 (Call 12/01/22) |
209 | 206,254 | ||||||
2.85%, 04/01/25 (Call 03/01/25) |
1,913 | 1,816,230 | ||||||
3.13%, 12/01/25 (Call 06/01/25)(a) |
695 | 657,084 | ||||||
3.25%, 06/01/24 (Call 12/01/23) |
171 | 166,606 | ||||||
Fortis Inc./Canada, 3.06%, 10/04/26 (Call 07/04/26) |
385 | 347,307 | ||||||
Georgia Power Co., Series A, 2.10%, 07/30/23(a) |
1,408 | 1,377,606 | ||||||
Interstate Power & Light Co., 3.25%, 12/01/24 (Call 09/01/24) |
892 | 856,097 | ||||||
MidAmerican Energy Co., 3.50%, 10/15/24 (Call 07/15/24) |
1,390 | 1,351,329 | ||||||
National Rural Utilities Cooperative Finance Corp. |
||||||||
0.35%, 02/08/24 |
983 | 925,849 | ||||||
1.00%, 06/15/26 (Call 05/15/26) |
1,055 | 914,308 | ||||||
1.88%, 02/07/25 |
960 | 894,728 | ||||||
5.45%, 10/30/25 |
740 | 743,723 | ||||||
NextEra Energy Capital Holdings Inc. |
||||||||
0.65%, 03/01/23 |
1,271 | 1,252,741 | ||||||
1.88%, 01/15/27 (Call 12/15/26) |
2,040 | 1,777,990 | ||||||
2.69%, 11/03/23
(Call 12/01/22), |
945 | 933,792 | ||||||
2.94%, 03/21/24 (Call 12/01/22) |
2,100 | 2,034,779 | ||||||
3.55%, 05/01/27 (Call 02/01/27) |
295 | 271,498 | ||||||
4.20%, 06/20/24 |
1,350 | 1,328,370 | ||||||
4.26%, 09/01/24 |
1,040 | 1,019,320 | ||||||
4.45%, 06/20/25 |
1,135 | 1,111,418 | ||||||
4.63%, 07/15/27 (Call 06/15/27) |
1,845 | 1,773,598 | ||||||
NSTAR Electric Co., 3.20%, 05/15/27 (Call 02/15/27) |
120 | 110,338 | ||||||
OGE Energy Corp., 0.70%, 05/26/23 (Call 12/01/22)(a) |
135 | 131,968 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Electric (continued) |
| |||||||
Oklahoma Gas & Electric Co., 0.55%, 05/26/23 (Call 12/01/22) |
$ | 300 | $ | 292,435 | ||||
Oncor Electric Delivery Co. LLC, 2.75%, 06/01/24 (Call 05/01/24)(a) |
970 | 935,091 | ||||||
Pacific Gas and Electric Co. |
||||||||
1.70%, 11/15/23 (Call 12/01/22) |
1,985 | 1,895,736 | ||||||
2.95%, 03/01/26 (Call 12/01/25) |
959 | 853,684 | ||||||
3.15%, 01/01/26(a) |
2,062 | 1,858,459 | ||||||
3.25%, 02/16/24 (Call 02/16/23) |
4,450 | 4,300,398 | ||||||
3.45%, 07/01/25(a) |
380 | 353,356 | ||||||
3.50%, 06/15/25 (Call 03/15/25) |
920 | 853,383 | ||||||
4.25%, 08/01/23 (Call 07/01/23)(a) |
429 | 424,826 | ||||||
Pinnacle West Capital Corp., 1.30%, 06/15/25 (Call 05/15/25) |
911 | 812,003 | ||||||
PPL Capital Funding Inc., 3.10%, 05/15/26 (Call 02/15/26) |
1,195 | 1,096,910 | ||||||
Public Service Enterprise Group Inc. |
||||||||
0.80%, 08/15/25 (Call 07/15/25) |
755 | 662,559 | ||||||
0.84%, 11/08/23 (Call 12/01/22) |
635 | 605,587 | ||||||
2.65%, 11/15/22 (Call 11/14/22)(a) |
652 | 651,491 | ||||||
2.88%, 06/15/24 (Call 05/15/24) |
1,169 | 1,123,649 | ||||||
San Diego Gas & Electric Co., 2.50%, 05/15/26 (Call 02/15/26)(a) |
450 | 410,334 | ||||||
Sempra Energy |
||||||||
3.25%, 06/15/27 (Call 03/15/27) |
5 | 4,520 | ||||||
3.30%, 04/01/25 (Call 03/01/25) |
320 | 303,116 | ||||||
Southern California Edison Co. |
||||||||
1.10%, 04/01/24 (Call 04/01/23)(a) |
1,360 | 1,280,597 | ||||||
Series C, 3.50%, 10/01/23 (Call 07/01/23) |
828 | 812,847 | ||||||
Series D, 4.70%, 06/01/27 (Call 05/01/27) |
1,025 | 991,192 | ||||||
Series E, 3.70%, 08/01/25 (Call 06/01/25) |
2,066 | 1,982,208 | ||||||
Southern Co. (The) |
||||||||
2.95%, 07/01/23 (Call 05/01/23)(a) |
2,006 | 1,978,941 | ||||||
3.25%, 07/01/26 (Call 04/01/26) |
2,660 | 2,460,615 | ||||||
5.11%, 08/01/27(a) |
300 | 291,612 | ||||||
5.15%, 10/06/25 |
1,000 | 995,575 | ||||||
Series 21-A, 0.60%, 02/26/24 (Call 01/26/24) |
1,072 | 1,006,943 | ||||||
Southern Power Co., 4.15%, 12/01/25 (Call 09/01/25) |
553 | 537,305 | ||||||
Southwestern Electric Power Co., Series N, 1.65%, 03/15/26 (Call 02/15/26) |
835 | 733,617 | ||||||
Virginia Electric & Power Co. |
||||||||
Series A, 3.15%, 01/15/26 (Call 10/15/25) |
1,408 | 1,316,204 | ||||||
Series A, 3.50%, 03/15/27 (Call 12/15/26) |
260 | 241,478 | ||||||
Series B, 3.75%, 05/15/27 (Call 04/15/27) |
1,230 | 1,154,730 | ||||||
Series C, 2.75%, 03/15/23 (Call 12/15/22) |
840 | 833,143 | ||||||
WEC Energy Group Inc. |
||||||||
0.55%, 09/15/23 |
934 | 897,109 | ||||||
0.80%, 03/15/24 (Call 02/15/24) |
525 | 493,591 | ||||||
5.00%, 09/27/25 (Call 08/27/25) |
415 | 412,003 | ||||||
Xcel Energy Inc. |
||||||||
0.50%, 10/15/23 (Call 09/15/23)(a) |
466 | 444,755 | ||||||
1.75%, 03/15/27 (Call 02/15/27) |
1,255 | 1,074,623 | ||||||
3.30%, 06/01/25 (Call 12/01/24) |
1,161 | 1,101,501 | ||||||
3.35%, 12/01/26 (Call 06/01/26) |
115 | 106,050 | ||||||
|
|
|||||||
108,801,451 | ||||||||
Electrical Components & Equipment — 0.1% | ||||||||
Emerson Electric Co. |
||||||||
0.88%, 10/15/26 (Call 09/15/26) |
449 | 383,353 | ||||||
1.80%, 10/15/27 (Call 08/15/27) |
45 | 38,607 | ||||||
2.63%, 02/15/23 (Call 12/01/22) |
694 | 690,060 |
Security |
Par (000) |
Value | ||||||
Electrical Components & Equipment (continued) |
| |||||||
3.15%, 06/01/25 (Call 03/01/25) |
$ | 679 | $ | 649,336 | ||||
|
|
|||||||
1,761,356 | ||||||||
Electronics — 0.6% | ||||||||
Arrow Electronics Inc., 3.25%, 09/08/24 (Call 07/08/24) |
1,540 | 1,470,806 | ||||||
Flex Ltd. |
||||||||
3.75%, 02/01/26 (Call 01/01/26) |
1,002 | 925,375 | ||||||
4.75%, 06/15/25 (Call 03/15/25) |
1,127 | 1,092,474 | ||||||
5.00%, 02/15/23 |
816 | 816,397 | ||||||
Fortive Corp., 3.15%, 06/15/26 (Call 03/15/26) |
920 | 845,688 | ||||||
Honeywell International Inc. |
||||||||
1.10%, 03/01/27 (Call 02/01/27)(a) |
2,205 | 1,887,483 | ||||||
1.35%, 06/01/25 (Call 05/01/25) |
1,837 | 1,684,306 | ||||||
2.30%, 08/15/24 (Call 07/15/24) |
1,341 | 1,283,074 | ||||||
2.50%, 11/01/26 (Call 08/01/26) |
1,110 | 1,015,285 | ||||||
4.95%, 02/15/28 |
760 | 758,239 | ||||||
Jabil Inc. |
||||||||
1.70%, 04/15/26 (Call 03/15/26) |
862 | 746,157 | ||||||
4.25%, 05/15/27 (Call 04/15/27) |
985 | 913,401 | ||||||
Keysight Technologies Inc. |
||||||||
4.55%, 10/30/24 (Call 07/30/24) |
938 | 919,112 | ||||||
4.60%, 04/06/27 (Call 01/06/27) |
270 | 258,801 | ||||||
TD SYNNEX Corp. |
||||||||
1.25%, 08/09/24 (Call 11/14/22) |
910 | 841,361 | ||||||
1.75%, 08/09/26 (Call 07/09/26)(a) |
1,330 | 1,119,469 | ||||||
Vontier Corp., 1.80%, 04/01/26 (Call 03/01/26) |
1,080 | 890,967 | ||||||
|
|
|||||||
17,468,395 | ||||||||
Entertainment — 0.3% | ||||||||
Magallanes Inc. |
||||||||
3.43%, 03/15/24(a)(d) |
1,535 | 1,480,987 | ||||||
3.53%, 03/15/24 (Call 03/15/23)(d) |
445 | 429,658 | ||||||
3.64%, 03/15/25(d) |
1,340 | 1,263,083 | ||||||
3.76%, 03/15/27 (Call 02/15/27)(d) |
5,940 | 5,280,797 | ||||||
3.79%, 03/15/25 (Call 03/15/23)(d) |
1,070 | 1,010,026 | ||||||
|
|
|||||||
9,464,551 | ||||||||
Environmental Control — 0.2% | ||||||||
Republic Services Inc. |
||||||||
2.50%, 08/15/24 (Call 07/15/24) |
1,880 | 1,790,323 | ||||||
2.90%, 07/01/26 (Call 04/01/26)(a) |
590 | 539,820 | ||||||
3.20%, 03/15/25 (Call 12/15/24) |
916 | 872,039 | ||||||
Waste Management Inc. |
||||||||
0.75%, 11/15/25 (Call 10/15/25) |
1,293 | 1,141,615 | ||||||
2.40%, 05/15/23 (Call 03/15/23)(a) |
1,101 | 1,087,461 | ||||||
|
|
|||||||
5,431,258 | ||||||||
Food — 1.3% | ||||||||
Campbell Soup Co. |
||||||||
3.65%, 03/15/23 (Call 02/15/23)(a) |
902 | 897,061 | ||||||
3.95%, 03/15/25 (Call 01/15/25) |
1,260 | 1,221,595 | ||||||
Conagra Brands Inc. |
||||||||
0.50%, 08/11/23 (Call 12/01/22) |
1,180 | 1,138,362 | ||||||
4.30%, 05/01/24 (Call 04/01/24)(a) |
2,000 | 1,967,038 | ||||||
4.60%, 11/01/25 (Call 09/01/25) |
1,297 | 1,259,883 | ||||||
General Mills Inc. |
||||||||
3.20%, 02/10/27 (Call 11/10/26) |
5 | 4,627 | ||||||
3.65%, 02/15/24 (Call 11/15/23) |
705 | 695,023 | ||||||
4.00%, 04/17/25 (Call 02/17/25) |
1,648 | 1,606,289 | ||||||
Hershey Co. (The) |
||||||||
2.30%, 08/15/26 (Call 05/15/26) |
1,060 | 966,563 | ||||||
3.38%, 05/15/23 (Call 04/15/23)(a) |
683 | 678,011 | ||||||
Hormel Foods Corp., 0.65%, 06/03/24 (Call 12/01/22) |
615 | 574,090 |
30 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Food (continued) | ||||||||
Ingredion Inc., 3.20%, 10/01/26 (Call 07/01/26) |
$ | 145 | $ | 133,102 | ||||
JBS
USA LUX SA/JBS USA Food Co./JBS USA Finance Inc.,
2.50%, 01/15/27 |
586 | 500,298 | ||||||
JM Smucker Co. (The), 3.50%, 03/15/25 |
800 | 767,392 | ||||||
Kellogg Co. |
||||||||
2.65%, 12/01/23(a) |
1,308 | 1,277,967 | ||||||
3.25%, 04/01/26(a) |
1,050 | 983,290 | ||||||
Kraft Heinz Foods Co. |
||||||||
3.00%, 06/01/26 (Call 03/01/26) |
3,030 | 2,788,282 | ||||||
3.88%, 05/15/27 (Call 02/15/27)(a) |
1,415 | 1,320,605 | ||||||
Kroger Co. (The) |
||||||||
2.65%, 10/15/26 (Call 07/15/26) |
1,180 | 1,056,583 | ||||||
3.50%, 02/01/26 (Call 11/01/25) |
1,195 | 1,121,145 | ||||||
3.70%, 08/01/27 (Call 05/01/27)(a) |
125 | 115,427 | ||||||
3.85%, 08/01/23 (Call 05/01/23)(a) |
1,078 | 1,068,973 | ||||||
4.00%, 02/01/24 (Call 11/01/23)(a) |
1,070 | 1,054,045 | ||||||
McCormick & Co. Inc./MD |
||||||||
0.90%, 02/15/26 (Call 01/15/26) |
1,146 | 988,972 | ||||||
3.15%, 08/15/24 (Call 06/15/24) |
1,755 | 1,689,548 | ||||||
3.40%, 08/15/27 (Call 05/15/27) |
40 | 36,379 | ||||||
Mondelez International Inc. |
||||||||
1.50%, 05/04/25 (Call 04/04/25) |
869 | 793,454 | ||||||
2.13%, 03/17/24 |
245 | 234,909 | ||||||
2.63%, 03/17/27 (Call 02/17/27) |
2,438 | 2,171,463 | ||||||
Sysco Corp. |
||||||||
3.25%, 07/15/27 (Call 04/15/27)(a) |
175 | 158,295 | ||||||
3.30%, 07/15/26 (Call 04/15/26) |
760 | 702,953 | ||||||
3.75%, 10/01/25 (Call 07/01/25)(a) |
1,648 | 1,572,940 | ||||||
Tyson Foods Inc. |
||||||||
3.55%, 06/02/27 (Call 03/02/27) |
2,060 | 1,896,730 | ||||||
3.95%, 08/15/24 (Call 05/15/24) |
1,445 | 1,410,210 | ||||||
4.00%, 03/01/26 (Call 01/01/26) |
1,831 | 1,750,302 | ||||||
Walmart Inc., 3.90%, 09/09/25(a) |
805 | 788,151 | ||||||
|
|
|||||||
37,389,957 | ||||||||
Forest Products & Paper — 0.0% | ||||||||
Georgia-Pacific LLC, 8.00%, 01/15/24 |
741 | 765,250 | ||||||
|
|
|||||||
Gas — 0.3% | ||||||||
Atmos Energy Corp. |
||||||||
0.63%, 03/09/23 (Call 11/16/22) |
272 | 268,249 | ||||||
3.00%, 06/15/27 (Call 03/15/27) |
75 | 68,366 | ||||||
CenterPoint Energy Resources Corp., 0.70%, 03/02/23 (Call 12/01/22)(a) |
100 | 98,524 | ||||||
Eastern Energy Gas Holdings LLC, Series A, 2.50%, 11/15/24 (Call 10/15/24) |
1,689 | 1,599,500 | ||||||
National Fuel Gas Co. |
||||||||
3.75%, 03/01/23 (Call 12/01/22)(a) |
808 | 803,972 | ||||||
5.50%, 01/15/26 (Call 12/15/25) |
923 | 902,991 | ||||||
NiSource Inc. |
||||||||
0.95%, 08/15/25 (Call 07/15/25)(a) |
2,210 | 1,956,309 | ||||||
3.49%, 05/15/27 (Call 02/15/27)(a) |
815 | 745,219 | ||||||
ONE Gas Inc., 1.10%, 03/11/24 (Call 11/16/22) |
676 | 639,418 | ||||||
Southern California Gas Co. |
||||||||
2.95%, 04/15/27 (Call 03/15/27)(a) |
1,390 | 1,256,071 | ||||||
Series TT, 2.60%, 06/15/26 (Call 03/15/26) |
250 | 227,822 | ||||||
|
|
|||||||
8,566,441 |
Security |
Par (000) |
Value | ||||||
Hand & Machine Tools — 0.1% | ||||||||
Stanley Black & Decker Inc. |
||||||||
2.30%, 02/24/25 (Call 02/24/23)(a) |
$ | 1,160 | $ | 1,088,535 | ||||
3.40%, 03/01/26 (Call 01/01/26) |
1,055 | 991,857 | ||||||
|
|
|||||||
2,080,392 | ||||||||
Health Care - Products — 1.0% | ||||||||
Abbott Laboratories |
||||||||
2.95%, 03/15/25 (Call 12/15/24)(a) |
1,902 | 1,824,906 | ||||||
3.40%, 11/30/23 (Call 09/30/23)(a) |
1,770 | 1,745,582 | ||||||
3.75%, 11/30/26 (Call 08/30/26) |
1,285 | 1,232,362 | ||||||
Baxter International Inc. |
||||||||
0.87%, 12/01/23 |
475 | 453,540 | ||||||
1.32%, 11/29/24(a) |
645 | 593,602 | ||||||
1.92%, 02/01/27 (Call 01/01/27) |
2,305 | 1,981,182 | ||||||
2.60%, 08/15/26 (Call 05/15/26) |
375 | 336,994 | ||||||
Boston Scientific Corp. |
||||||||
1.90%, 06/01/25 (Call 05/01/25) |
1,403 | 1,294,348 | ||||||
3.45%, 03/01/24 (Call 02/01/24)(a) |
1,417 | 1,386,727 | ||||||
Danaher
Corp., 3.35%, 09/15/25 |
1,160 | 1,106,616 | ||||||
DH Europe Finance II Sarl |
||||||||
2.05%, 11/15/22 |
1,002 | 1,000,923 | ||||||
2.20%, 11/15/24 (Call 10/15/24) |
1,741 | 1,643,814 | ||||||
PerkinElmer Inc. |
||||||||
0.55%, 09/15/23 (Call 12/01/22)(a) |
270 | 258,746 | ||||||
0.85%, 09/15/24 (Call 12/01/22)(a) |
685 | 631,891 | ||||||
Stryker Corp. |
||||||||
0.60%, 12/01/23 (Call 11/14/22) |
954 | 908,509 | ||||||
1.15%, 06/15/25 (Call 05/15/25)(a) |
1,305 | 1,174,334 | ||||||
3.38%, 05/15/24 (Call 02/15/24) |
1,136 | 1,106,408 | ||||||
3.38%, 11/01/25 (Call 08/01/25)(a) |
1,240 | 1,180,813 | ||||||
3.50%, 03/15/26 (Call 12/15/25) |
1,965 | 1,861,080 | ||||||
Thermo Fisher Scientific Inc. |
||||||||
0.80%, 10/18/23 (Call 12/01/22) |
2,115 | 2,029,922 | ||||||
1.22%, 10/18/24 (Call 12/01/22) |
2,375 | 2,209,607 | ||||||
Zimmer Biomet Holdings Inc. |
||||||||
1.45%, 11/22/24 (Call 12/01/22) |
2,340 | 2,157,073 | ||||||
3.05%, 01/15/26 (Call 12/15/25)(a) |
1,224 | 1,135,108 | ||||||
3.55%, 04/01/25 (Call 01/01/25) |
1,055 | 1,008,796 | ||||||
|
|
|||||||
30,262,883 | ||||||||
Health Care - Services — 2.0% | ||||||||
Aetna Inc. |
||||||||
2.80%, 06/15/23 (Call 04/15/23) |
2,151 | 2,119,520 | ||||||
3.50%, 11/15/24 (Call 08/15/24)(a) |
1,607 | 1,552,407 | ||||||
Anthem Inc., 0.45%, 03/15/23 |
671 | 659,877 | ||||||
CommonSpirit Health |
||||||||
2.76%, 10/01/24 (Call 07/01/24) |
1,097 | 1,041,762 | ||||||
2.95%, 11/01/22 |
209 | 209,000 | ||||||
Elevance Health Inc. |
||||||||
1.50%, 03/15/26 (Call 02/15/26) |
1,040 | 917,582 | ||||||
2.38%, 01/15/25 (Call 12/15/24) |
2,001 | 1,880,200 | ||||||
2.95%, 12/01/22 (Call 11/16/22) |
1,223 | 1,221,485 | ||||||
3.30%, 01/15/23 |
110 | 109,635 | ||||||
3.35%, 12/01/24 (Call 10/01/24) |
2,028 | 1,950,845 | ||||||
3.50%, 08/15/24 (Call 05/15/24) |
1,060 | 1,028,579 | ||||||
HCA Inc. |
||||||||
3.13%, 03/15/27 (Call 02/15/27)(d) |
1,700 | 1,504,205 | ||||||
4.50%, 02/15/27 (Call 08/15/26) |
1,615 | 1,512,479 | ||||||
5.00%, 03/15/24 |
2,743 | 2,718,824 | ||||||
5.25%, 04/15/25 |
1,910 | 1,875,498 | ||||||
5.25%, 06/15/26 (Call 12/15/25) |
2,207 | 2,140,045 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Health Care - Services (continued) | ||||||||
5.38%, 02/01/25 |
$ | 2,980 | $ | 2,944,222 | ||||
5.38%, 09/01/26 (Call 03/01/26) |
1,350 | 1,312,884 | ||||||
5.88%, 02/15/26 (Call 08/15/25) |
2,250 | 2,227,081 | ||||||
Humana Inc. |
||||||||
0.65%, 08/03/23 (Call 11/08/22) |
810 | 783,058 | ||||||
1.35%, 02/03/27 (Call 01/03/27) |
1,792 | 1,502,106 | ||||||
3.15%, 12/01/22 |
799 | 797,873 | ||||||
3.85%, 10/01/24 (Call 07/01/24) |
1,327 | 1,293,378 | ||||||
3.95%, 03/15/27 (Call 12/15/26) |
110 | 102,838 | ||||||
4.50%, 04/01/25 (Call 03/01/25)(a) |
812 | 794,560 | ||||||
Kaiser Foundation Hospitals, 3.15%, 05/01/27 (Call 02/01/27) |
300 | 275,977 | ||||||
Laboratory Corp. of America Holdings |
||||||||
1.55%, 06/01/26 (Call 05/01/26) |
925 | 804,960 | ||||||
3.25%, 09/01/24 (Call 07/01/24) |
1,282 | 1,234,714 | ||||||
3.60%, 02/01/25 (Call 11/01/24) |
1,563 | 1,497,538 | ||||||
Quest Diagnostics Inc. |
||||||||
3.45%, 06/01/26 (Call 03/01/26)(a) |
1,320 | 1,236,696 | ||||||
3.50%, 03/30/25 (Call 12/30/24) |
1,192 | 1,142,126 | ||||||
SSM Health Care Corp. |
||||||||
Series 2018, 3.69%, 06/01/23 (Call 03/01/23) |
60 | 59,515 | ||||||
Series A, 3.82%, 06/01/27 (Call 03/01/27)(a) |
45 | 42,423 | ||||||
UnitedHealth Group Inc. |
||||||||
3.70%, 05/15/27 (Call 04/15/27) |
580 | 548,112 | ||||||
0.55%, 05/15/24 (Call 11/14/22) |
1,348 | 1,261,569 | ||||||
1.15%, 05/15/26 (Call 04/15/26)(a) |
1,335 | 1,172,274 | ||||||
1.25%, 01/15/26(a) |
811 | 721,000 | ||||||
2.38%, 08/15/24 |
1,634 | 1,563,251 | ||||||
2.75%, 02/15/23 (Call 12/01/22) |
767 | 762,988 | ||||||
2.88%, 03/15/23 |
1,002 | 995,352 | ||||||
2.95%, 10/15/27 |
25 | 22,550 | ||||||
3.10%, 03/15/26 |
1,384 | 1,302,463 | ||||||
3.38%, 04/15/27 |
335 | 312,394 | ||||||
3.45%, 01/15/27 |
350 | 328,111 | ||||||
3.50%, 06/15/23(a) |
1,010 | 1,002,390 | ||||||
3.50%, 02/15/24(a) |
1,406 | 1,382,463 | ||||||
3.75%, 07/15/25 |
2,616 | 2,538,730 | ||||||
5.00%, 10/15/24 |
3,000 | 3,000,941 | ||||||
5.15%, 10/15/25 |
1,435 | 1,438,572 | ||||||
5.25%, 02/15/28 |
370 | 370,698 | ||||||
Universal Health Services Inc., 1.65%, 09/01/26 (Call 08/01/26)(a)(d) |
590 | 495,423 | ||||||
|
|
|||||||
59,713,173 | ||||||||
Holding Companies - Diversified — 0.8% | ||||||||
Ares Capital Corp. |
||||||||
2.15%, 07/15/26 (Call 06/15/26) |
1,550 | 1,280,544 | ||||||
2.88%, 06/15/27 (Call 05/15/27)(a) |
645 | 530,369 | ||||||
3.25%, 07/15/25 (Call 06/15/25) |
305 | 275,071 | ||||||
3.50%, 02/10/23 (Call 01/10/23) |
1,825 | 1,816,403 | ||||||
3.88%, 01/15/26 (Call 12/15/25) |
1,757 | 1,574,982 | ||||||
4.20%, 06/10/24 (Call 05/10/24) |
1,999 | 1,923,037 | ||||||
4.25%, 03/01/25 (Call 01/01/25) |
853 | 800,254 | ||||||
Blackstone Private Credit Fund |
||||||||
2.35%, 11/22/24 |
585 | 534,035 | ||||||
2.63%, 12/15/26 (Call 11/15/26) |
1,520 | 1,257,626 | ||||||
2.70%, 01/15/25 (Call 11/15/24) |
1,115 | 1,018,643 | ||||||
3.25%, 03/15/27 (Call 02/15/27) |
1,425 | 1,198,433 | ||||||
4.70%, 03/24/25(a) |
1,155 | 1,109,470 | ||||||
7.05%, 09/29/25(a)(d) |
55 | 54,513 |
Security |
Par (000) |
Value | ||||||
Holding Companies - Diversified (continued) | ||||||||
Blackstone Secured Lending Fund |
||||||||
2.13%, 02/15/27 (Call 01/15/27)(a) |
$ | 560 | $ | 451,311 | ||||
2.75%, 09/16/26 (Call 08/19/26)(a) |
555 | 476,173 | ||||||
3.63%, 01/15/26 (Call 12/15/25) |
1,920 | 1,734,773 | ||||||
FS KKR Capital Corp. |
||||||||
1.65%, 10/12/24 |
905 | 819,913 | ||||||
3.25%, 07/15/27 (Call 06/15/27) |
540 | 442,442 | ||||||
3.40%, 01/15/26 (Call 12/15/25) |
1,145 | 1,008,505 | ||||||
Golub Capital BDC Inc. |
||||||||
2.50%, 08/24/26 (Call 07/24/26) |
1,320 | 1,100,241 | ||||||
3.38%, 04/15/24 (Call 03/15/24) |
785 | 747,212 | ||||||
Owl Rock Capital Corp. |
||||||||
2.63%, 01/15/27 (Call 12/15/26)(a) |
490 | 393,062 | ||||||
3.40%, 07/15/26 (Call 06/15/26) |
782 | 667,054 | ||||||
3.75%, 07/22/25 (Call 06/22/25) |
934 | 853,452 | ||||||
4.25%, 01/15/26 (Call 12/15/25) |
1,277 | 1,157,886 | ||||||
|
|
|||||||
23,225,404 | ||||||||
Home Builders — 0.3% | ||||||||
DR Horton Inc. |
||||||||
1.30%, 10/15/26 (Call 09/15/26)(a) |
1,375 | 1,147,762 | ||||||
2.50%, 10/15/24 (Call 09/15/24) |
1,079 | 1,016,807 | ||||||
2.60%, 10/15/25 (Call 09/15/25) |
708 | 645,356 | ||||||
Lennar Corp. |
||||||||
4.50%, 04/30/24 (Call 01/31/24) |
1,575 | 1,546,333 | ||||||
4.75%, 05/30/25 (Call 02/28/25) |
1,534 | 1,490,725 | ||||||
PulteGroup Inc. |
||||||||
5.00%, 01/15/27 (Call 10/15/26)(a) |
960 | 921,622 | ||||||
5.50%, 03/01/26 (Call 12/01/25) |
630 | 619,895 | ||||||
|
|
|||||||
7,388,500 | ||||||||
Household Products & Wares — 0.0% | ||||||||
Kimberly-Clark Corp., 1.05%, 09/15/27 (Call 07/15/27)(a) |
30 | 25,047 | ||||||
|
|
|||||||
Insurance — 1.5% | ||||||||
Allstate Corp. (The) |
||||||||
0.75%, 12/15/25 (Call 11/15/25) |
627 | 544,051 | ||||||
3.15%, 06/15/23(a) |
1,055 | 1,043,716 | ||||||
3.28%, 12/15/26 (Call 09/15/26) |
1,220 | 1,136,836 | ||||||
American International Group Inc. |
||||||||
2.50%, 06/30/25 (Call 05/30/25)(a) |
828 | 768,544 | ||||||
3.90%, 04/01/26 (Call 01/01/26) |
1,135 | 1,081,106 | ||||||
Aon Corp., 2.20%, 11/15/22 |
921 | 920,106 | ||||||
Aon Corp./Aon Global Holdings PLC, 2.85%, 05/28/27 (Call 04/28/27)(a) |
1,540 | 1,366,396 | ||||||
Aon Global Ltd. |
||||||||
3.50%, 06/14/24 (Call 03/14/24) |
1,284 | 1,248,176 | ||||||
3.88%, 12/15/25 (Call 09/15/25) |
715 | 680,327 | ||||||
Arch Capital Finance LLC, 4.01%, 12/15/26 (Call 09/15/26) |
1,295 | 1,215,504 | ||||||
Berkshire Hathaway Finance Corp., 2.30%, 03/15/27 (Call 02/15/27)(a) |
1,735 | 1,562,956 | ||||||
Berkshire Hathaway Inc. |
||||||||
2.75%, 03/15/23 (Call 01/15/23) |
461 | 457,632 | ||||||
3.00%, 02/11/23 |
110 | 109,728 | ||||||
3.13%, 03/15/26 (Call 12/15/25) |
3,206 | 3,038,782 | ||||||
Brighthouse Financial Inc., 3.70%, 06/22/27 (Call 03/22/27)(a) |
10 | 9,033 | ||||||
Brown & Brown Inc., 4.20%, 09/15/24 (Call 06/15/24) |
861 | 839,365 | ||||||
Chubb INA Holdings Inc. |
||||||||
2.88%, 11/03/22 |
837 | 836,868 | ||||||
3.15%, 03/15/25 |
1,110 | 1,060,569 |
32 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Insurance (continued) | ||||||||
3.35%, 05/15/24 |
$ | 796 | $ | 774,420 | ||||
3.35%, 05/03/26 (Call 02/03/26) |
965 | 908,521 | ||||||
CNA Financial Corp. |
||||||||
3.45%, 08/15/27 (Call 05/15/27) |
105 | 94,921 | ||||||
3.95%, 05/15/24 (Call 02/15/24)(a) |
888 | 867,229 | ||||||
4.50%, 03/01/26 (Call 12/01/25) |
840 | 810,313 | ||||||
CNO Financial Group Inc., 5.25%, 05/30/25 (Call 02/28/25)(a) |
519 | 509,600 | ||||||
Corebridge Financial Inc. |
||||||||
3.50%, 04/04/25 (Call 03/04/25)(d) |
425 | 401,110 | ||||||
3.65%, 04/05/27 (Call 03/05/27)(d) |
2,774 | 2,513,766 | ||||||
Equitable Holdings Inc., 3.90%, 04/20/23 (Call 03/20/23)(a) |
980 | 975,198 | ||||||
Jackson Financial Inc., 1.13%, 11/22/23(a) |
175 | 167,213 | ||||||
Lincoln National Corp., 4.00%, 09/01/23(a) |
920 | 911,684 | ||||||
Loews Corp. |
||||||||
2.63%, 05/15/23 (Call 02/15/23)(a) |
407 | 401,677 | ||||||
3.75%, 04/01/26 (Call 01/01/26)(a) |
930 | 893,760 | ||||||
Manulife Financial Corp. |
||||||||
2.48%, 05/19/27 (Call 03/19/27)(a) |
1,370 | 1,211,902 | ||||||
4.15%, 03/04/26 |
800 | 769,551 | ||||||
Marsh & McLennan Companies Inc. |
||||||||
3.50%, 06/03/24 (Call 03/03/24) |
1,032 | 1,003,041 | ||||||
3.50%, 03/10/25 (Call 12/10/24) |
1,056 | 1,013,702 | ||||||
3.75%, 03/14/26 (Call 12/14/25)(a) |
968 | 921,424 | ||||||
3.88%, 03/15/24 (Call 02/15/24) |
1,860 | 1,826,418 | ||||||
MetLife Inc. |
||||||||
3.00%, 03/01/25 |
831 | 795,175 | ||||||
3.60%, 04/10/24 |
1,781 | 1,741,665 | ||||||
3.60%, 11/13/25 (Call 08/13/25)(a) |
694 | 662,973 | ||||||
Series D, 4.37%, 09/15/23(a) |
2,091 | 2,076,028 | ||||||
Old Republic International Corp., 3.88%, 08/26/26 (Call 07/26/26) |
295 | 277,685 | ||||||
Progressive Corp. (The) |
||||||||
2.45%, 01/15/27(a) |
150 | 134,836 | ||||||
2.50%, 03/15/27 (Call 02/15/27)(a) |
1,020 | 910,777 | ||||||
Prudential Financial Inc., 1.50%, 03/10/26 (Call 02/10/26)(a) |
1,235 | 1,094,296 | ||||||
Trinity Acquisition PLC, 4.40%, 03/15/26 (Call 12/15/25) |
695 | 662,507 | ||||||
Willis North America Inc. |
||||||||
3.60%, 05/15/24 (Call 03/15/24)(a) |
96 | 92,847 | ||||||
4.65%, 06/15/27 (Call 05/15/27)(a) |
2,070 | 1,948,686 | ||||||
|
|
|||||||
45,292,620 | ||||||||
Internet — 1.6% | ||||||||
Alphabet Inc. |
||||||||
0.45%, 08/15/25 (Call 07/15/25) |
2,424 | 2,163,769 | ||||||
0.80%, 08/15/27 (Call 06/15/27) |
150 | 126,103 | ||||||
2.00%, 08/15/26 (Call 05/15/26) |
1,770 | 1,610,494 | ||||||
3.38%, 02/25/24(a) |
1,548 | 1,524,065 | ||||||
Amazon.com Inc. |
||||||||
0.25%, 05/12/23 |
689 | 673,074 | ||||||
0.40%, 06/03/23 |
1,579 | 1,538,417 | ||||||
0.45%, 05/12/24 |
1,498 | 1,404,538 | ||||||
0.80%, 06/03/25 (Call 05/03/25) |
2,361 | 2,136,422 | ||||||
1.00%, 05/12/26 (Call 04/12/26) |
2,965 | 2,594,798 | ||||||
1.20%, 06/03/27 (Call 04/03/27) |
890 | 756,556 | ||||||
2.40%, 02/22/23 (Call 01/22/23)(a) |
1,929 | 1,917,893 | ||||||
2.50%, 11/29/22(a) |
1,207 | 1,205,419 | ||||||
2.73%, 04/13/24(a) |
825 | 802,988 | ||||||
2.80%, 08/22/24 (Call 06/22/24)(a) |
3,450 | 3,334,514 |
Security |
Par (000) |
Value | ||||||
Internet (continued) | ||||||||
3.00%, 04/13/25 |
$ | 2,095 | $ | 2,013,719 | ||||
3.15%, 08/22/27 (Call 05/22/27) |
1,185 | 1,097,116 | ||||||
3.30%, 04/13/27 (Call 03/13/27)(a) |
2,650 | 2,487,122 | ||||||
3.80%, 12/05/24 (Call 09/05/24)(a) |
1,728 | 1,697,718 | ||||||
5.20%, 12/03/25 (Call 09/03/25) |
1,132 | 1,147,544 | ||||||
Booking Holdings Inc. |
||||||||
2.75%, 03/15/23 (Call 02/15/23) |
1,028 | 1,019,563 | ||||||
3.60%, 06/01/26 (Call 03/01/26)(a) |
1,407 | 1,327,919 | ||||||
3.65%, 03/15/25 (Call 12/15/24)(a) |
747 | 722,974 | ||||||
eBay Inc. |
||||||||
1.40%, 05/10/26 (Call 04/10/26) |
1,570 | 1,366,097 | ||||||
1.90%, 03/11/25 (Call 02/11/25) |
1,688 | 1,561,456 | ||||||
2.75%, 01/30/23 (Call 12/30/22) |
1,058 | 1,052,422 | ||||||
3.45%, 08/01/24 (Call 05/01/24) |
1,353 | 1,316,214 | ||||||
3.60%, 06/05/27 (Call 03/05/27)(a) |
190 | 174,828 | ||||||
Expedia Group Inc. |
||||||||
4.63%, 08/01/27 (Call 05/01/27) |
90 | 84,191 | ||||||
5.00%, 02/15/26 (Call 11/15/25)(a) |
1,822 | 1,760,719 | ||||||
Meta Platforms Inc., 3.50%, 08/15/27 (Call 07/15/27)(d) |
5,110 | 4,688,024 | ||||||
Netflix Inc. |
||||||||
4.38%, 11/15/26 |
630 | 601,455 | ||||||
5.88%, 02/15/25 |
1,250 | 1,258,049 | ||||||
VeriSign Inc. |
||||||||
4.75%, 07/15/27 (Call 12/01/22)(a) |
130 | 124,798 | ||||||
5.25%, 04/01/25 (Call 01/01/25) |
1,250 | 1,237,477 | ||||||
|
|
|||||||
48,528,455 | ||||||||
Iron & Steel — 0.1% | ||||||||
Nucor Corp. |
||||||||
2.00%, 06/01/25 (Call 05/01/25) |
1,235 | 1,135,422 | ||||||
3.95%, 05/23/25 |
1,000 | 968,354 | ||||||
4.30%, 05/23/27 (Call 04/23/27) |
1,340 | 1,277,312 | ||||||
Reliance Steel & Aluminum Co., 4.50%, 04/15/23 (Call 01/15/23)(a) |
547 | 545,350 | ||||||
|
|
|||||||
3,926,438 | ||||||||
Lodging — 0.3% | ||||||||
Hyatt Hotels Corp. |
||||||||
1.30%, 10/01/23 (Call 12/01/22)(a) |
565 | 541,752 | ||||||
1.80%, 10/01/24 (Call 12/01/22)(a) |
1,315 | 1,226,401 | ||||||
Marriott International Inc./MD |
||||||||
3.60%, 04/15/24 (Call 03/15/24) |
1,097 | 1,071,848 | ||||||
5.00%, 10/15/27 (Call 09/15/27) |
420 | 404,505 | ||||||
Series EE, 5.75%, 05/01/25 (Call 04/01/25) |
1,603 | 1,617,251 | ||||||
Series R, 3.13%, 06/15/26 (Call 03/15/26) |
1,300 | 1,187,740 | ||||||
Sands China Ltd. |
||||||||
4.30%, 01/08/26 (Call 12/08/25) |
1,900 | 1,547,113 | ||||||
5.63%, 08/08/25 (Call 06/08/25) |
245 | 216,825 | ||||||
|
|
|||||||
7,813,435 | ||||||||
Machinery — 1.8% | ||||||||
Caterpillar Financial Services Corp. |
||||||||
0.25%, 03/01/23 |
273 | 269,228 | ||||||
0.45%, 09/14/23 |
290 | 279,564 | ||||||
0.45%, 05/17/24 |
1,339 | 1,249,993 | ||||||
0.60%, 09/13/24 |
235 | 217,019 | ||||||
0.65%, 07/07/23 |
567 | 550,831 | ||||||
0.80%, 11/13/25(a) |
1,761 | 1,559,164 | ||||||
0.90%, 03/02/26(a) |
1,070 | 937,652 | ||||||
0.95%, 01/10/24 |
1,090 | 1,040,534 | ||||||
1.15%, 09/14/26 |
983 | 851,370 | ||||||
1.45%, 05/15/25(a) |
779 | 715,699 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Machinery (continued) | ||||||||
1.70%, 01/08/27(a) |
$ | 2,465 | $ | 2,159,993 | ||||
1.95%, 11/18/22(a) |
705 | 704,230 | ||||||
2.15%, 11/08/24 |
1,490 | 1,413,238 | ||||||
2.55%, 11/29/22 |
599 | 598,091 | ||||||
2.85%, 05/17/24 |
950 | 921,253 | ||||||
3.25%, 12/01/24(a) |
666 | 643,986 | ||||||
3.40%, 05/13/25(a) |
690 | 666,152 | ||||||
3.45%, 05/15/23 |
870 | 863,361 | ||||||
3.60%, 08/12/27 |
885 | 829,897 | ||||||
3.65%, 12/07/23 |
1,064 | 1,050,211 | ||||||
3.65%, 08/12/25 |
1,125 | 1,090,531 | ||||||
3.75%, 11/24/23 |
475 | 470,308 | ||||||
Caterpillar Inc., 3.40%, 05/15/24 (Call 02/15/24) |
1,823 | 1,782,248 | ||||||
CNH Industrial Capital LLC |
||||||||
1.45%, 07/15/26 (Call 06/15/26)(a) |
950 | 813,568 | ||||||
1.88%, 01/15/26 (Call 12/15/25) |
1,000 | 881,973 | ||||||
1.95%, 07/02/23(a) |
1,092 | 1,066,381 | ||||||
3.95%, 05/23/25 |
1,195 | 1,143,818 | ||||||
4.20%, 01/15/24 |
1,009 | 993,394 | ||||||
CNH Industrial NV, 4.50%, 08/15/23 |
929 | 921,717 | ||||||
Deere & Co., 2.75%, 04/15/25 (Call 03/15/25)(a) |
945 | 898,945 | ||||||
John Deere Capital Corp. |
||||||||
0.25%, 01/17/23 |
650 | 644,252 | ||||||
0.40%, 10/10/23 |
426 | 408,483 | ||||||
0.45%, 01/17/24(a) |
805 | 764,974 | ||||||
0.45%, 06/07/24 |
815 | 759,736 | ||||||
0.63%, 09/10/24 |
595 | 551,817 | ||||||
0.70%, 01/15/26 |
865 | 756,347 | ||||||
0.90%, 01/10/24 |
450 | 429,724 | ||||||
1.05%, 06/17/26 |
1,805 | 1,573,348 | ||||||
1.20%, 04/06/23(a) |
135 | 133,068 | ||||||
1.25%, 01/10/25(a) |
950 | 879,741 | ||||||
1.70%, 01/11/27 |
1,925 | 1,687,951 | ||||||
1.75%, 03/09/27 |
195 | 169,879 | ||||||
2.05%, 01/09/25 |
469 | 441,630 | ||||||
2.35%, 03/08/27 |
3,540 | 3,172,046 | ||||||
2.60%, 03/07/24(a) |
1,149 | 1,114,768 | ||||||
2.65%, 06/24/24 |
957 | 923,351 | ||||||
2.65%, 06/10/26(a) |
370 | 342,308 | ||||||
2.70%, 01/06/23(a) |
436 | 434,857 | ||||||
2.80%, 01/27/23(a) |
405 | 403,240 | ||||||
2.80%, 03/06/23(a) |
483 | 479,981 | ||||||
2.80%, 09/08/27 |
30 | 27,071 | ||||||
3.35%, 06/12/24 |
930 | 907,954 | ||||||
3.40%, 06/06/25 |
375 | 361,775 | ||||||
3.45%, 03/13/25 |
1,051 | 1,017,534 | ||||||
3.65%, 10/12/23(a) |
571 | 565,786 | ||||||
4.05%, 09/08/25 |
675 | 659,142 | ||||||
4.15%, 09/15/27 |
760 | 730,107 | ||||||
4.55%, 10/11/24(a) |
370 | 368,053 | ||||||
Otis Worldwide Corp. |
||||||||
2.06%, 04/05/25 (Call 03/05/25) |
1,865 | 1,725,613 | ||||||
2.29%, 04/05/27 (Call 02/05/27)(a) |
520 | 456,598 | ||||||
Rockwell
Automation Inc., |
350 | 337,730 | ||||||
Westinghouse Air Brake Technologies Corp. |
||||||||
3.20%, 06/15/25 (Call 05/15/25) |
861 | 800,724 | ||||||
3.45%, 11/15/26 (Call 08/15/26) |
1,405 | 1,257,604 | ||||||
4.40%, 03/15/24 (Call 02/15/24) |
1,394 | 1,366,634 | ||||||
Xylem Inc./NY, 3.25%, 11/01/26 (Call 08/01/26) |
720 | 660,928 | ||||||
|
|
|||||||
54,899,103 |
Security |
Par (000) |
Value | ||||||
Manufacturing — 0.5% | ||||||||
3M Co. |
||||||||
1.75%, 02/14/23 (Call 01/14/23)(a) |
$ | 511 | $ | 506,739 | ||||
2.00%, 02/14/25 (Call 01/14/25)(a) |
839 | 784,185 | ||||||
2.25%, 03/15/23 (Call 02/15/23) |
716 | 709,001 | ||||||
2.25%, 09/19/26 (Call 06/19/26)(a) |
840 | 757,516 | ||||||
2.65%, 04/15/25 (Call 03/15/25)(a) |
1,333 | 1,258,511 | ||||||
3.00%, 08/07/25(a) |
1,170 | 1,108,286 | ||||||
3.25%, 02/14/24 (Call 01/14/24) |
1,754 | 1,714,779 | ||||||
General Electric Co., 3.10%, 01/09/23 |
65 | 64,762 | ||||||
Illinois Tool Works Inc. |
||||||||
2.65%, 11/15/26 (Call 08/15/26) |
622 | 571,012 | ||||||
3.50%, 03/01/24 (Call 12/01/23) |
419 | 411,451 | ||||||
Parker-Hannifin Corp. |
||||||||
2.70%, 06/14/24 (Call 05/14/24) |
1,533 | 1,469,806 | ||||||
3.25%, 03/01/27 (Call 12/01/26) |
150 | 137,006 | ||||||
3.30%, 11/21/24 (Call 08/21/24) |
874 | 838,791 | ||||||
3.65%, 06/15/24 |
2,086 | 2,028,854 | ||||||
4.25%, 09/15/27 (Call 08/15/27) |
270 | 255,971 | ||||||
Trane Technologies Global Holding Co. Ltd., 4.25%, 06/15/23 |
938 | 934,684 | ||||||
Trane Technologies Luxembourg Finance SA, 3.55%, 11/01/24 (Call 08/01/24)(a) |
1,139 | 1,100,352 | ||||||
|
|
|||||||
14,651,706 | ||||||||
Media — 1.8% | ||||||||
Charter Communications Operating LLC/Charter |
||||||||
Communications Operating Capital |
||||||||
4.50%, 02/01/24 (Call 01/01/24) |
1,976 | 1,944,923 | ||||||
4.91%, 07/23/25 (Call 04/23/25)(a) |
6,226 | 6,044,366 | ||||||
Comcast Cable Communications Holdings Inc., 9.46%, 11/15/22(a) |
970 | 970,436 | ||||||
Comcast Corp. |
||||||||
2.35%, 01/15/27 (Call 10/15/26) |
1,124 | 1,003,997 | ||||||
3.15%, 03/01/26 (Call 12/01/25) |
2,160 | 2,029,659 | ||||||
3.30%, 02/01/27 (Call 11/01/26) |
4,160 | 3,852,317 | ||||||
3.30%, 04/01/27 (Call 02/01/27) |
185 | 171,529 | ||||||
3.38%, 02/15/25 (Call 11/15/24) |
1,795 | 1,729,077 | ||||||
3.38%, 08/15/25 (Call 05/15/25)(a) |
2,147 | 2,049,320 | ||||||
3.70%, 04/15/24 (Call 03/15/24) |
3,310 | 3,247,998 | ||||||
3.95%, 10/15/25 (Call 08/15/25)(a) |
3,095 | 2,992,882 | ||||||
5.25%, 11/07/25 |
175 | 174,953 | ||||||
5.35%, 11/15/27 |
175 | 174,921 | ||||||
Discovery Communications LLC |
||||||||
2.95%, 03/20/23 (Call 02/20/23)(a) |
1,712 | 1,695,559 | ||||||
4.90%, 03/11/26 (Call 12/11/25) |
955 | 906,934 | ||||||
FactSet Research Systems Inc., 2.90%, 03/01/27 (Call 02/01/27)(a) |
1,550 | 1,386,329 | ||||||
Fox Corp. |
||||||||
3.05%, 04/07/25 (Call 03/07/25) |
1,344 | 1,271,048 | ||||||
4.03%, 01/25/24 (Call 12/25/23) |
1,762 | 1,731,837 | ||||||
Paramount Global |
||||||||
2.90%, 01/15/27 (Call 10/15/26)(a) |
905 | 798,648 | ||||||
4.00%, 01/15/26 (Call 10/15/25) |
566 | 530,730 | ||||||
4.75%, 05/15/25 (Call 04/15/25) |
1,248 | 1,215,424 | ||||||
Thomson Reuters Corp. |
||||||||
3.35%, 05/15/26 (Call 02/15/26) |
535 | 497,666 | ||||||
4.30%, 11/23/23 (Call 08/23/23)(a) |
1,141 | 1,130,674 | ||||||
Time Warner Cable Enterprises LLC, 8.38%, 03/15/23 |
1,651 | 1,670,140 | ||||||
TWDC Enterprises 18 Corp. |
||||||||
1.85%, 07/30/26 |
876 | 780,022 | ||||||
2.35%, 12/01/22(a) |
701 | 700,008 |
34 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Media (continued) | ||||||||
2.95%, 06/15/27(a) |
$ | 60 | $ | 54,538 | ||||
3.00%, 02/13/26(a) |
2,049 | 1,916,062 | ||||||
3.15%, 09/17/25 |
1,720 | 1,635,902 | ||||||
Walt Disney Co. (The) |
||||||||
1.75%, 08/30/24 (Call 07/30/24) |
2,149 | 2,028,453 | ||||||
1.75%, 01/13/26 |
2,543 | 2,302,266 | ||||||
3.35%, 03/24/25 |
2,349 | 2,258,389 | ||||||
3.70%, 09/15/24 (Call 06/15/24) |
1,581 | 1,544,181 | ||||||
3.70%, 10/15/25 (Call 07/15/25) |
1,331 | 1,285,326 | ||||||
3.70%, 03/23/27(a) |
490 | 462,241 | ||||||
|
|
|||||||
54,188,755 | ||||||||
Metal Fabricate & Hardware — 0.1% | ||||||||
Precision Castparts Corp. |
||||||||
2.50%, 01/15/23 (Call 12/01/22)(a) |
1,006 | 1,001,660 | ||||||
3.25%, 06/15/25 (Call 03/15/25) |
1,113 | 1,068,379 | ||||||
|
|
|||||||
2,070,039 | ||||||||
Mining — 0.1% | ||||||||
BHP Billiton Finance USA Ltd., 3.85%, 09/30/23 |
843 | 834,986 | ||||||
Freeport-McMoRan Inc. |
||||||||
3.88%, 03/15/23 (Call 12/15/22) |
512 | 508,902 | ||||||
4.55%, 11/14/24 (Call 08/14/24)(a) |
1,170 | 1,149,742 | ||||||
5.00%, 09/01/27 (Call 12/01/22) |
115 | 109,893 | ||||||
Kinross Gold Corp. |
||||||||
4.50%, 07/15/27 (Call 04/15/27) |
25 | 23,258 | ||||||
5.95%, 03/15/24 (Call 12/15/23) |
980 | 980,226 | ||||||
|
|
|||||||
3,607,007 | ||||||||
Office & Business Equipment — 0.1% | ||||||||
CDW LLC/CDW Finance Corp. |
||||||||
2.67%, 12/01/26 (Call 11/01/26) |
740 | 637,086 | ||||||
4.13%, 05/01/25 (Call 12/01/22) |
535 | 508,785 | ||||||
5.50%, 12/01/24 (Call 06/01/24) |
720 | 713,160 | ||||||
|
|
|||||||
1,859,031 | ||||||||
Oil & Gas — 3.0% | ||||||||
BP Capital Markets America Inc. |
||||||||
3.02%, 01/16/27 (Call 10/16/26)(a) |
2,360 | 2,158,364 | ||||||
3.12%, 05/04/26 (Call 02/04/26) |
1,457 | 1,357,729 | ||||||
3.41%, 02/11/26 (Call 12/11/25) |
725 | 686,264 | ||||||
3.54%, 04/06/27 (Call 02/06/27) |
315 | 293,046 | ||||||
3.59%, 04/14/27 (Call 01/14/27) |
550 | 512,559 | ||||||
3.80%, 09/21/25 (Call 07/21/25)(a) |
1,765 | 1,712,747 | ||||||
BP Capital Markets PLC |
||||||||
2.50%, 11/06/22(a) |
605 | 604,807 | ||||||
3.28%, 09/19/27 (Call 06/19/27) |
175 | 159,801 | ||||||
Canadian Natural Resources Ltd. |
||||||||
2.05%, 07/15/25 (Call 06/15/25)(a) |
1,312 | 1,197,163 | ||||||
3.80%, 04/15/24 (Call 01/15/24) |
1,000 | 975,970 | ||||||
3.85%, 06/01/27 (Call 03/01/27) |
820 | 754,400 | ||||||
3.90%, 02/01/25 (Call 11/01/24) |
843 | 812,977 | ||||||
Cenovus Energy Inc., 5.38%, 07/15/25 (Call 04/15/25) |
946 | 943,503 | ||||||
Chevron Corp. |
||||||||
1.14%, 05/11/23 |
1,235 | 1,212,046 | ||||||
1.55%, 05/11/25 (Call 04/11/25) |
3,734 | 3,445,026 | ||||||
2.00%, 05/11/27 (Call 03/11/27) |
890 | 787,216 | ||||||
2.90%, 03/03/24 (Call 01/03/24) |
1,231 | 1,201,978 | ||||||
2.95%, 05/16/26 (Call 02/16/26) |
2,465 | 2,314,406 | ||||||
3.33%, 11/17/25 (Call 08/17/25) |
754 | 726,803 | ||||||
Chevron USA Inc. |
||||||||
0.43%, 08/11/23(a) |
806 | 782,186 | ||||||
0.69%, 08/12/25 (Call 07/12/25) |
1,228 | 1,100,112 |
Security |
Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
3.90%, 11/15/24 (Call 08/15/24) |
$ | 1,492 | $ | 1,464,619 | ||||
ConocoPhillips Co. |
||||||||
2.13%, 03/08/24 (Call 12/01/22)(a) |
825 | 794,493 | ||||||
2.40%, 03/07/25 (Call 03/07/23)(a) |
1,150 | 1,086,410 | ||||||
Continental Resources Inc./OK |
||||||||
3.80%, 06/01/24 (Call 03/01/24) |
1,840 | 1,773,691 | ||||||
4.50%, 04/15/23 (Call 01/15/23)(a) |
783 | 780,300 | ||||||
Coterra Energy Inc., 3.90%, 05/15/27 (Call 02/15/27)(a)(d) |
1,290 | 1,188,050 | ||||||
Diamondback Energy Inc., 3.25%, 12/01/26 (Call 10/01/26) |
630 | 577,601 | ||||||
EOG Resources Inc. |
||||||||
2.63%, 03/15/23 (Call 12/15/22) |
1,685 | 1,671,208 | ||||||
3.15%, 04/01/25 (Call 01/01/25) |
1,290 | 1,235,757 | ||||||
4.15%, 01/15/26 (Call 10/15/25) |
1,430 | 1,387,464 | ||||||
EQT Corp. |
||||||||
3.90%, 10/01/27 (Call 07/01/27) |
45 | 40,476 | ||||||
6.13%, 02/01/25 (Call 01/01/25) |
775 | 773,679 | ||||||
Equinor ASA |
||||||||
1.75%, 01/22/26 (Call 12/22/25)(a) |
290 | 261,467 | ||||||
2.45%, 01/17/23(a) |
665 | 662,144 | ||||||
2.65%, 01/15/24 |
1,396 | 1,358,893 | ||||||
2.88%, 04/06/25 (Call 03/06/25) |
2,449 | 2,331,401 | ||||||
3.00%, 04/06/27 (Call 02/06/27) |
250 | 229,095 | ||||||
3.25%, 11/10/24(a) |
1,240 | 1,199,051 | ||||||
3.70%, 03/01/24(a) |
1,707 | 1,678,935 | ||||||
Exxon Mobil Corp. |
||||||||
1.57%, 04/15/23(a) |
1,887 | 1,860,999 | ||||||
2.02%, 08/16/24 (Call 07/16/24)(a) |
2,168 | 2,066,879 | ||||||
2.28%, 08/16/26 (Call 06/16/26)(a) |
680 | 618,799 | ||||||
2.71%, 03/06/25 (Call 12/06/24) |
2,550 | 2,432,992 | ||||||
2.73%, 03/01/23 (Call 01/01/23) |
391 | 388,865 | ||||||
2.99%, 03/19/25 (Call 02/19/25)(a) |
3,608 | 3,453,254 | ||||||
3.04%, 03/01/26 (Call 12/01/25) |
3,395 | 3,194,846 | ||||||
3.18%, 03/15/24 (Call 12/15/23)(a) |
736 | 721,156 | ||||||
3.29%, 03/19/27 (Call 01/19/27) |
775 | 727,669 | ||||||
Hess Corp., 4.30%, 04/01/27 (Call 01/01/27) |
667 | 626,354 | ||||||
Marathon Oil Corp., 4.40%, 07/15/27 (Call 04/15/27)(a) |
945 | 881,439 | ||||||
Marathon Petroleum Corp. |
||||||||
3.63%, 09/15/24 (Call 06/15/24) |
1,736 | 1,677,689 | ||||||
4.70%, 05/01/25 (Call 04/01/25) |
2,333 | 2,283,203 | ||||||
5.13%, 12/15/26 (Call 09/15/26) |
590 | 579,001 | ||||||
Ovintiv Exploration Inc., 5.38%, 01/01/26 (Call 10/01/25)(a) |
1,335 | 1,306,925 | ||||||
Phillips 66 |
||||||||
0.90%, 02/15/24 (Call 12/01/22) |
993 | 939,681 | ||||||
1.30%, 02/15/26 (Call 01/15/26) |
810 | 709,194 | ||||||
3.70%, 04/06/23 |
835 | 831,423 | ||||||
3.85%, 04/09/25 (Call 03/09/25) |
1,631 | 1,578,181 | ||||||
Pioneer Natural Resources Co. |
||||||||
0.55%, 05/15/23(a) |
410 | 400,594 | ||||||
1.13%, 01/15/26 (Call 12/15/25) |
880 | 767,515 | ||||||
Shell International Finance BV |
||||||||
0.38%, 09/15/23(a) |
317 | 304,880 | ||||||
2.00%, 11/07/24 (Call 10/07/24)(a) |
2,123 | 2,011,765 | ||||||
2.50%, 09/12/26 |
870 | 793,784 | ||||||
2.88%, 05/10/26 |
2,925 | 2,725,640 | ||||||
3.25%, 05/11/25 |
3,985 | 3,825,690 | ||||||
3.50%, 11/13/23 (Call 10/13/23) |
1,600 | 1,577,646 | ||||||
TotalEnergies Capital Canada Ltd., 2.75%, 07/15/23(a) |
1,470 | 1,449,452 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
TotalEnergies Capital International SA |
||||||||
2.43%, 01/10/25 (Call 10/10/24)(a) |
$ | 1,734 | $ | 1,639,463 | ||||
2.70%, 01/25/23(a) |
65 | 64,750 | ||||||
3.70%, 01/15/24 |
1,580 | 1,553,448 | ||||||
3.75%, 04/10/24(a) |
1,884 | 1,856,834 | ||||||
Valero Energy Corp., 2.15%, 09/15/27 (Call 07/15/27)(a) |
10 | 8,561 | ||||||
|
|
|||||||
90,092,408 | ||||||||
Oil & Gas Services — 0.2% | ||||||||
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor Inc. |
||||||||
1.23%, 12/15/23 |
330 | 316,276 | ||||||
2.06%, 12/15/26 (Call 11/15/26) |
2,085 | 1,824,105 | ||||||
Schlumberger Finance Canada Ltd., 1.40%, 09/17/25 (Call 08/17/25) |
945 | 854,094 | ||||||
Schlumberger Investment SA, 3.65%, 12/01/23 (Call 09/01/23) |
2,087 | 2,059,827 | ||||||
|
|
|||||||
5,054,302 | ||||||||
Packaging & Containers — 0.2% | ||||||||
Amcor Finance USA Inc., 3.63%, 04/28/26 (Call 01/28/26) |
1,490 | 1,374,412 | ||||||
Amcor Flexibles North America Inc., 4.00%, 05/17/25 (Call 04/17/25) |
705 | 678,124 | ||||||
Berry Global Inc. |
||||||||
0.95%, 02/15/24 (Call 01/15/24) |
860 | 809,019 | ||||||
1.57%, 01/15/26 (Call 12/15/25) |
735 | 637,026 | ||||||
WRKCo Inc. |
||||||||
3.00%, 09/15/24 (Call 07/15/24)(a) |
555 | 527,469 | ||||||
3.38%, 09/15/27 (Call 06/15/27) |
15 | 13,430 | ||||||
3.75%, 03/15/25 (Call 01/15/25)(a) |
847 | 809,711 | ||||||
4.65%, 03/15/26 (Call 01/15/26) |
1,420 | 1,375,258 | ||||||
|
|
|||||||
6,224,449 | ||||||||
Pharmaceuticals — 5.1% | ||||||||
AbbVie Inc. |
||||||||
2.30%, 11/21/22 |
2,112 | 2,109,397 | ||||||
2.60%, 11/21/24 (Call 10/21/24) |
3,665 | 3,481,858 | ||||||
2.85%, 05/14/23 (Call 03/14/23) |
1,943 | 1,921,521 | ||||||
2.90%, 11/06/22 |
3,570 | 3,569,327 | ||||||
2.95%, 11/21/26 (Call 09/21/26) |
5,725 | 5,228,848 | ||||||
3.20%, 05/14/26 (Call 02/14/26) |
3,410 | 3,177,632 | ||||||
3.60%, 05/14/25 (Call 02/14/25) |
4,390 | 4,210,875 | ||||||
3.75%, 11/14/23 (Call 10/14/23)(a) |
1,975 | 1,948,967 | ||||||
3.80%, 03/15/25 (Call 12/15/24) |
3,800 | 3,667,629 | ||||||
3.85%, 06/15/24 (Call 03/15/24) |
1,438 | 1,407,860 | ||||||
AmerisourceBergen Corp. |
||||||||
0.74%, 03/15/23 (Call 12/01/22) |
691 | 680,025 | ||||||
3.25%, 03/01/25 (Call 12/01/24) |
570 | 545,578 | ||||||
3.40%, 05/15/24 (Call 02/15/24) |
1,164 | 1,132,136 | ||||||
Astrazeneca Finance LLC |
||||||||
0.70%, 05/28/24 (Call 12/01/22) |
2,785 | 2,602,887 | ||||||
1.20%, 05/28/26 (Call 04/28/26) |
3,367 | 2,935,574 | ||||||
AstraZeneca PLC |
||||||||
0.30%, 05/26/23 |
1,885 | 1,837,850 | ||||||
0.70%, 04/08/26 (Call 03/08/26) |
1,050 | 901,416 | ||||||
3.13%, 06/12/27 (Call 03/12/27)(a) |
105 | 96,613 | ||||||
3.38%, 11/16/25(a) |
1,737 | 1,654,990 | ||||||
3.50%, 08/17/23 (Call 07/17/23) |
1,833 | 1,813,056 | ||||||
Becton Dickinson and Co. |
||||||||
3.36%, 06/06/24 (Call 04/06/24) |
1,600 | 1,552,740 | ||||||
3.70%, 06/06/27 (Call 03/06/27)(a) |
2,975 | 2,762,337 | ||||||
3.73%, 12/15/24 (Call 09/15/24) |
1,055 | 1,024,818 |
Security |
Par (000) |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
Bristol-Myers Squibb Co. |
||||||||
0.54%, 11/13/23 (Call 12/01/22) |
$ | 261 | $ | 249,574 | ||||
0.75%, 11/13/25 (Call 10/13/25) |
1,295 | 1,144,554 | ||||||
2.75%, 02/15/23 (Call 01/15/23)(a) |
978 | 972,997 | ||||||
2.90%, 07/26/24 (Call 06/26/24) |
3,533 | 3,415,486 | ||||||
3.20%, 06/15/26 (Call 04/15/26) |
2,119 | 2,009,577 | ||||||
3.25%, 11/01/23(a) |
580 | 571,871 | ||||||
3.88%, 08/15/25 (Call 05/15/25) |
185 | 178,544 | ||||||
Cardinal Health Inc. |
||||||||
3.08%, 06/15/24 (Call 04/15/24) |
1,745 | 1,681,999 | ||||||
3.20%, 03/15/23(a) |
575 | 571,129 | ||||||
3.41%, 06/15/27 (Call 03/15/27)(a) |
125 | 114,367 | ||||||
3.75%, 09/15/25 (Call 06/15/25)(a) |
1,310 | 1,250,115 | ||||||
Cigna Corp. |
||||||||
0.61%, 03/15/24 (Call 12/01/22) |
823 | 775,129 | ||||||
1.25%, 03/15/26 (Call 02/15/26) |
2,023 | 1,765,334 | ||||||
3.00%, 07/15/23 (Call 05/16/23)(a) |
1,520 | 1,499,804 | ||||||
3.05%, 10/15/27 (Call 07/15/27) |
25 | 22,386 | ||||||
3.25%, 04/15/25 (Call 01/15/25) |
1,378 | 1,314,016 | ||||||
3.40%, 03/01/27 (Call 12/01/26) |
655 | 603,153 | ||||||
3.50%, 06/15/24 (Call 03/17/24)(a) |
1,099 | 1,070,827 | ||||||
3.75%, 07/15/23 (Call 06/15/23) |
1,586 | 1,571,283 | ||||||
4.13%, 11/15/25 (Call 09/15/25) |
3,285 | 3,174,510 | ||||||
4.50%, 02/25/26 (Call 11/27/25) |
1,906 | 1,860,181 | ||||||
CVS Health Corp. |
||||||||
1.30%, 08/21/27 (Call 06/21/27) |
1,950 | 1,614,540 | ||||||
2.63%, 08/15/24 (Call 07/15/24)(a) |
1,741 | 1,666,307 | ||||||
2.88%, 06/01/26 (Call 03/01/26) |
2,954 | 2,717,012 | ||||||
3.00%, 08/15/26 (Call 06/15/26) |
350 | 320,642 | ||||||
3.38%, 08/12/24 (Call 05/12/24) |
1,558 | 1,512,554 | ||||||
3.63%, 04/01/27 (Call 02/01/27) |
790 | 735,643 | ||||||
3.88%, 07/20/25 (Call 04/20/25) |
3,447 | 3,328,746 | ||||||
4.10%, 03/25/25 (Call 01/25/25)(a) |
1,402 | 1,368,018 | ||||||
Eli Lilly & Co., 2.75%, 06/01/25 (Call 03/01/25) |
1,237 | 1,177,758 | ||||||
GlaxoSmithKline Capital Inc., 3.63%, 05/15/25(a) |
1,328 | 1,287,269 | ||||||
GlaxoSmithKline Capital PLC |
||||||||
0.53%, 10/01/23 (Call 12/01/22) |
1,878 | 1,805,846 | ||||||
3.00%, 06/01/24 (Call 05/01/24) |
2,194 | 2,129,297 | ||||||
Johnson & Johnson |
||||||||
0.55%, 09/01/25 (Call 08/01/25) |
727 | 648,518 | ||||||
0.95%, 09/01/27 (Call 07/01/27)(a) |
200 | 168,985 | ||||||
2.05%, 03/01/23 (Call 01/01/23)(a) |
653 | 647,241 | ||||||
2.45%, 03/01/26 (Call 12/01/25) |
890 | 830,175 | ||||||
2.63%, 01/15/25 (Call 11/15/24)(a) |
621 | 594,543 | ||||||
2.95%, 03/03/27 (Call 12/03/26) |
705 | 655,981 | ||||||
3.38%, 12/05/23 |
290 | 286,377 | ||||||
McKesson Corp. |
||||||||
0.90%, 12/03/25 (Call 11/03/25) |
720 | 628,015 | ||||||
1.30%, 08/15/26 (Call 07/15/26) |
1,885 | 1,619,372 | ||||||
3.80%, 03/15/24 (Call 12/15/23) |
1,826 | 1,793,105 | ||||||
Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25) |
749 | 723,671 | ||||||
Merck & Co. Inc. |
||||||||
0.75%, 02/24/26 (Call 01/24/26) |
2,124 | 1,858,903 | ||||||
1.70%, 06/10/27 (Call 05/10/27)(a) |
2,765 | 2,408,412 | ||||||
2.75%, 02/10/25 (Call 11/10/24) |
3,610 | 3,449,918 | ||||||
2.80%, 05/18/23(a) |
2,279 | 2,255,286 | ||||||
2.90%, 03/07/24 (Call 02/07/24) |
1,737 | 1,693,686 | ||||||
Mylan Inc., 4.20%, 11/29/23 (Call 08/29/23) |
1,222 | 1,199,140 |
36 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
Novartis Capital Corp. |
||||||||
1.75%, 02/14/25 (Call 01/14/25) |
$ | 741 | $ | 691,617 | ||||
2.00%, 02/14/27 (Call 12/14/26) |
165 | 147,449 | ||||||
3.00%, 11/20/25 (Call 08/20/25) |
3,203 | 3,039,400 | ||||||
3.10%, 05/17/27 (Call 02/17/27) |
3,360 | 3,123,604 | ||||||
3.40%, 05/06/24 |
3,387 | 3,320,393 | ||||||
Pfizer Inc. |
||||||||
0.80%, 05/28/25 (Call 04/28/25)(a) |
1,794 | 1,627,064 | ||||||
2.75%, 06/03/26(a) |
465 | 434,362 | ||||||
2.95%, 03/15/24 (Call 02/15/24)(a) |
1,016 | 992,189 | ||||||
3.00%, 06/15/23 |
1,977 | 1,958,181 | ||||||
3.00%, 12/15/26 |
1,190 | 1,110,997 | ||||||
3.20%, 09/15/23 (Call 08/15/23)(a) |
1,446 | 1,427,880 | ||||||
3.40%, 05/15/24 |
1,737 | 1,700,772 | ||||||
Sanofi, 3.38%, 06/19/23 (Call 05/19/23)(a) |
1,389 | 1,376,850 | ||||||
Shire Acquisitions Investments Ireland DAC |
||||||||
2.88%, 09/23/23 (Call 07/23/23) |
1,880 | 1,838,510 | ||||||
3.20%, 09/23/26 (Call 06/23/26) |
3,545 | 3,260,375 | ||||||
Takeda Pharmaceutical Co. Ltd., 4.40%, 11/26/23 (Call 10/26/23) |
541 | 535,436 | ||||||
Utah Acquisition Sub Inc., 3.95%, 06/15/26 (Call 03/15/26) |
3,280 | 2,988,556 | ||||||
Viatris Inc. |
||||||||
1.65%, 06/22/25 (Call 05/22/25) |
1,714 | 1,530,615 | ||||||
2.30%, 06/22/27 (Call 04/22/27) |
570 | 466,183 | ||||||
Wyeth LLC, 6.45%, 02/01/24 |
768 | 781,156 | ||||||
Zoetis Inc. |
||||||||
3.00%, 09/12/27 (Call 06/12/27) |
75 | 67,236 | ||||||
3.25%, 02/01/23 (Call 12/01/22) |
1,894 | 1,885,096 | ||||||
4.50%, 11/13/25 (Call 08/13/25) |
1,655 | 1,615,336 | ||||||
|
|
|||||||
153,124,987 | ||||||||
Pipelines — 3.3% | ||||||||
Boardwalk Pipelines LP |
||||||||
4.45%, 07/15/27 (Call 04/15/27) |
570 | 529,133 | ||||||
4.95%, 12/15/24 (Call 09/15/24) |
888 | 874,187 | ||||||
5.95%, 06/01/26 (Call 03/01/26)(a) |
1,100 | 1,099,534 | ||||||
Cheniere Corpus Christi Holdings LLC |
||||||||
5.13%, 06/30/27 (Call 01/01/27) |
1,155 | 1,126,125 | ||||||
5.88%, 03/31/25 (Call 10/02/24) |
2,237 | 2,237,866 | ||||||
7.00%, 06/30/24 (Call 01/01/24) |
2,084 | 2,110,468 | ||||||
Columbia Pipeline Group Inc., 4.50%, 06/01/25 (Call 03/01/25)(a) |
1,669 | 1,629,587 | ||||||
DCP Midstream Operating LP |
||||||||
3.88%, 03/15/23 (Call 12/15/22)(a) |
200 | 199,000 | ||||||
5.38%, 07/15/25 (Call 04/15/25) |
270 | 263,674 | ||||||
5.63%, 07/15/27 (Call 04/15/27)(a) |
1,000 | 967,250 | ||||||
Enbridge Energy Partners LP, 5.88%, 10/15/25 (Call 07/15/25)(a) |
884 | 890,940 | ||||||
Enbridge Inc. |
||||||||
0.55%, 10/04/23 |
650 | 621,406 | ||||||
1.60%, 10/04/26 (Call 09/04/26) |
1,638 | 1,405,895 | ||||||
2.50%, 01/15/25 (Call 12/15/24) |
972 | 910,747 | ||||||
2.50%, 02/14/25 |
540 | 504,606 | ||||||
3.50%, 06/10/24 (Call 03/10/24) |
1,025 | 993,643 | ||||||
3.70%, 07/15/27 (Call 04/15/27) |
20 | 18,345 | ||||||
4.00%, 10/01/23 (Call 07/01/23) |
1,082 | 1,065,898 | ||||||
4.25%, 12/01/26 (Call 09/01/26) |
950 | 899,110 | ||||||
Energy Transfer LP |
||||||||
2.90%, 05/15/25 (Call 04/15/25) |
1,723 | 1,599,085 | ||||||
3.60%, 02/01/23 (Call 12/01/22) |
385 | 383,225 |
Security |
Par (000) |
Value | ||||||
Pipelines (continued) | ||||||||
3.90%, 05/15/24 (Call 02/15/24) |
$ | 1,170 | $ | 1,136,315 | ||||
3.90%, 07/15/26 (Call 04/15/26) |
875 | 808,055 | ||||||
4.00%, 10/01/27 (Call 07/01/27) |
20 | 18,124 | ||||||
4.05%, 03/15/25 (Call 12/15/24) |
1,741 | 1,666,556 | ||||||
4.20%, 04/15/27 (Call 01/15/27) |
535 | 492,840 | ||||||
4.25%, 03/15/23 (Call 12/15/22) |
726 | 722,270 | ||||||
4.25%, 04/01/24 (Call 01/01/24) |
1,026 | 1,001,947 | ||||||
4.40%, 03/15/27 (Call 12/15/26)(a) |
875 | 811,924 | ||||||
4.50%, 04/15/24 (Call 03/15/24) |
1,371 | 1,346,488 | ||||||
4.75%, 01/15/26 (Call 10/15/25) |
1,463 | 1,403,474 | ||||||
5.50%, 06/01/27 (Call 03/01/27) |
960 | 934,192 | ||||||
5.88%, 01/15/24 (Call 10/15/23) |
1,640 | 1,641,421 | ||||||
Series 5Y, 4.20%, 09/15/23 (Call 08/15/23)(a) |
825 | 816,750 | ||||||
Energy Transfer LP/Regency Energy Finance Corp., 4.50%, 11/01/23 (Call 08/01/23) |
1,104 | 1,090,213 | ||||||
Enterprise Products Operating LLC |
||||||||
3.35%, 03/15/23 (Call 12/15/22)(a) |
1,390 | 1,382,800 | ||||||
3.70%, 02/15/26 (Call 11/15/25)(a) |
1,015 | 962,223 | ||||||
3.75%, 02/15/25 (Call 11/15/24) |
2,268 | 2,182,869 | ||||||
3.90%, 02/15/24 (Call 11/15/23) |
1,920 | 1,883,148 | ||||||
3.95%, 02/15/27 (Call 11/15/26)(a) |
375 | 353,767 | ||||||
Kinder Morgan Energy Partners LP |
||||||||
3.45%, 02/15/23 (Call 12/01/22)(a) |
717 | 713,325 | ||||||
3.50%, 09/01/23 (Call 06/01/23) |
1,113 | 1,098,582 | ||||||
4.15%, 02/01/24 (Call 11/01/23)(a) |
1,255 | 1,233,982 | ||||||
4.25%, 09/01/24 (Call 06/01/24) |
1,443 | 1,409,100 | ||||||
4.30%, 05/01/24 (Call 02/01/24) |
1,446 | 1,420,155 | ||||||
Kinder Morgan Inc. |
||||||||
1.75%, 11/15/26 (Call 10/15/26)(a) |
375 | 323,430 | ||||||
3.15%, 01/15/23 (Call 12/15/22)(a) |
1,068 | 1,063,105 | ||||||
4.30%, 06/01/25 (Call 03/01/25)(a) |
1,915 | 1,862,566 | ||||||
Magellan Midstream Partners LP, 5.00%, 03/01/26 (Call 12/01/25) |
672 | 659,206 | ||||||
MPLX LP |
||||||||
1.75%, 03/01/26 (Call 02/01/26) |
2,140 | 1,867,045 | ||||||
4.00%, 02/15/25 (Call 11/15/24)(a) |
758 | 729,031 | ||||||
4.13%, 03/01/27 (Call 12/01/26) |
2,005 | 1,862,401 | ||||||
4.50%, 07/15/23 (Call 04/15/23) |
1,870 | 1,860,147 | ||||||
4.88%, 12/01/24 (Call 09/01/24) |
1,662 | 1,637,016 | ||||||
4.88%, 06/01/25 (Call 03/01/25)(a) |
1,712 | 1,672,384 | ||||||
ONEOK Inc. |
||||||||
2.75%, 09/01/24 (Call 08/01/24) |
1,400 | 1,328,378 | ||||||
4.00%, 07/13/27 (Call 04/13/27) |
210 | 190,502 | ||||||
5.85%, 01/15/26 (Call 12/15/25)(a) |
670 | 666,608 | ||||||
7.50%, 09/01/23 (Call 06/01/23)(a) |
736 | 743,867 | ||||||
ONEOK Partners LP, 4.90%, 03/15/25 (Call 12/15/24) |
702 | 684,989 | ||||||
Plains All American Pipeline LP/PAA Finance Corp. |
||||||||
3.60%, 11/01/24 (Call 08/01/24)(a) |
1,555 | 1,489,813 | ||||||
3.85%, 10/15/23 (Call 07/15/23)(a) |
1,238 | 1,216,706 | ||||||
4.50%, 12/15/26 (Call 09/15/26) |
990 | 930,244 | ||||||
4.65%, 10/15/25 (Call 07/15/25) |
1,589 | 1,528,427 | ||||||
Sabine Pass Liquefaction LLC |
||||||||
5.00%, 03/15/27 (Call 09/15/26) |
1,855 | 1,787,660 | ||||||
5.63%, 04/15/23 (Call 01/15/23)(a) |
1,932 | 1,932,331 | ||||||
5.63%, 03/01/25 (Call 12/01/24) |
2,951 | 2,937,059 | ||||||
5.75%, 05/15/24 (Call 02/15/24) |
3,044 | 3,039,622 | ||||||
5.88%, 06/30/26 (Call 12/31/25) |
847 | 843,256 | ||||||
Spectra Energy Partners LP |
||||||||
3.38%, 10/15/26 (Call 07/15/26) |
655 | 599,779 | ||||||
3.50%, 03/15/25 (Call 12/15/24) |
982 | 936,291 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Pipelines (continued) | ||||||||
4.75%, 03/15/24 (Call 12/15/23)(a) |
$ | 1,977 | $ | 1,959,106 | ||||
Targa Resources Corp., 5.20%, 07/01/27 (Call 06/01/27) |
1,150 | 1,108,750 | ||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp., 6.50%, 07/15/27 (Call 12/01/22)(a) |
20 | 19,849 | ||||||
TransCanada PipeLines Ltd. |
||||||||
1.00%, 10/12/24 (Call 09/12/24) |
1,440 | 1,322,066 | ||||||
3.75%, 10/16/23 (Call 07/16/23)(a) |
1,350 | 1,328,282 | ||||||
4.88%, 01/15/26 (Call 10/15/25) |
801 | 782,623 | ||||||
Transcontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/26 (Call 11/01/25)(a) |
2,027 | 2,136,178 | ||||||
Williams Companies Inc. (The) |
||||||||
3.75%, 06/15/27 (Call 03/15/27) |
830 | 762,167 | ||||||
3.90%, 01/15/25 (Call 10/15/24) |
1,626 | 1,570,257 | ||||||
4.00%, 09/15/25 (Call 06/15/25) |
1,377 | 1,320,710 | ||||||
4.30%, 03/04/24 (Call 12/04/23) |
1,948 | 1,917,776 | ||||||
4.50%, 11/15/23 (Call 08/15/23)(a) |
1,052 | 1,042,644 | ||||||
4.55%, 06/24/24 (Call 03/24/24) |
1,927 | 1,896,298 | ||||||
|
|
|||||||
98,418,813 | ||||||||
Real Estate — 0.1% | ||||||||
Brookfield Asset Management Inc., 4.00%, 01/15/25 (Call 10/15/24)(a) |
1,007 | 976,143 | ||||||
CBRE Services Inc., 4.88%, 03/01/26 (Call 12/01/25) |
1,430 | 1,393,030 | ||||||
|
|
|||||||
2,369,173 | ||||||||
Real Estate Investment Trusts — 2.6% | ||||||||
Alexandria Real Estate Equities Inc., 3.45%, 04/30/25 (Call 02/28/25)(a) |
1,353 | 1,292,820 | ||||||
American Tower Corp. |
||||||||
0.60%, 01/15/24 |
1,047 | 989,585 | ||||||
1.30%, 09/15/25 (Call 08/15/25) |
1,060 | 933,953 | ||||||
1.45%, 09/15/26 (Call 08/15/26) |
925 | 779,118 | ||||||
1.60%, 04/15/26 (Call 03/15/26) |
1,375 | 1,187,172 | ||||||
2.40%, 03/15/25 (Call 02/15/25) |
1,559 | 1,442,011 | ||||||
2.75%, 01/15/27 (Call 11/15/26) |
335 | 293,530 | ||||||
2.95%, 01/15/25 (Call 12/15/24) |
1,217 | 1,146,959 | ||||||
3.00%, 06/15/23 |
1,402 | 1,382,304 | ||||||
3.38%, 05/15/24 (Call 04/15/24) |
979 | 948,825 | ||||||
3.38%, 10/15/26 (Call 07/15/26) |
910 | 823,681 | ||||||
3.50%, 01/31/23 |
1,756 | 1,751,424 | ||||||
3.55%, 07/15/27 (Call 04/15/27) |
435 | 389,212 | ||||||
3.65%, 03/15/27 (Call 02/15/27) |
1,100 | 995,331 | ||||||
4.00%, 06/01/25 (Call 03/01/25) |
678 | 647,987 | ||||||
4.40%, 02/15/26 (Call 11/15/25) |
958 | 915,474 | ||||||
5.00%, 02/15/24 |
1,763 | 1,755,603 | ||||||
AvalonBay Communities Inc., 3.45%, 06/01/25 (Call 03/03/25)(a) |
1,383 | 1,321,202 | ||||||
Boston Properties LP |
||||||||
2.75%, 10/01/26 (Call 07/01/26) |
1,044 | 925,396 | ||||||
3.13%, 09/01/23 (Call 06/01/23)(a) |
999 | 978,116 | ||||||
3.20%, 01/15/25 (Call 10/15/24) |
1,564 | 1,481,948 | ||||||
3.65%, 02/01/26 (Call 11/03/25) |
1,528 | 1,415,653 | ||||||
3.80%, 02/01/24 (Call 11/01/23) |
1,336 | 1,301,902 | ||||||
Brixmor Operating Partnership LP |
||||||||
3.65%, 06/15/24 (Call 04/15/24) |
1,265 | 1,222,274 | ||||||
3.85%, 02/01/25 (Call 11/01/24) |
255 | 243,150 | ||||||
4.13%, 06/15/26 (Call 03/15/26) |
1,025 | 942,089 | ||||||
Crown Castle Inc. |
||||||||
1.05%, 07/15/26 (Call 06/15/26) |
4,829 | 4,066,925 | ||||||
3.15%, 07/15/23 (Call 06/15/23)(a) |
793 | 780,688 | ||||||
3.20%, 09/01/24 (Call 07/01/24) |
893 | 860,128 |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts (continued) | ||||||||
3.65%, 09/01/27 (Call 06/01/27)(a) |
$ | 60 | $ | 54,228 | ||||
3.70%, 06/15/26 (Call 03/15/26) |
430 | 399,615 | ||||||
4.00%, 03/01/27 (Call 12/01/26) |
25 | 23,131 | ||||||
4.45%, 02/15/26 (Call 11/15/25) |
990 | 948,191 | ||||||
Crown Castle International Corp. |
||||||||
1.35%, 07/15/25 (Call 06/15/25)(a) |
960 | 857,589 | ||||||
2.90%, 03/15/27 (Call 02/15/27) |
385 | 340,168 | ||||||
Digital Realty Trust LP |
||||||||
3.70%, 08/15/27 (Call 05/15/27) |
15 | 13,652 | ||||||
5.55%, 01/15/28 (Call 12/15/27) |
400 | 388,747 | ||||||
Equinix Inc. |
||||||||
1.00%, 09/15/25 (Call 08/15/25) |
896 | 786,379 | ||||||
1.25%, 07/15/25 (Call 06/15/25) |
433 | 385,533 | ||||||
1.45%, 05/15/26 (Call 04/15/26) |
1,951 | 1,677,122 | ||||||
2.63%, 11/18/24 (Call 10/18/24) |
778 | 732,636 | ||||||
2.90%, 11/18/26 (Call 09/18/26) |
2,005 | 1,787,887 | ||||||
ERP Operating LP, 2.85%, 11/01/26 (Call 08/01/26) |
725 | 657,495 | ||||||
Essex Portfolio LP, 3.50%, 04/01/25 (Call 01/01/25)(a) |
666 | 636,074 | ||||||
Federal Realty Investment Trust, 3.95%, 01/15/24 (Call 10/15/23) |
167 | 164,026 | ||||||
GLP Capital LP/GLP Financing II Inc. |
||||||||
5.25%, 06/01/25 (Call 03/01/25) |
1,081 | 1,045,348 | ||||||
5.38%, 11/01/23 (Call 08/01/23)(a) |
514 | 508,312 | ||||||
5.38%, 04/15/26 (Call 01/15/26) |
1,923 | 1,835,748 | ||||||
Healthcare Realty Holdings LP |
||||||||
3.50%, 08/01/26 (Call 05/01/26)(a) |
155 | 142,004 | ||||||
3.75%, 07/01/27 (Call 04/01/27) |
40 | 36,379 | ||||||
Healthpeak Properties Inc., 3.25%, 07/15/26 (Call 05/15/26) |
872 | 801,376 | ||||||
Host Hotels & Resorts LP, Series E, 4.00%, 06/15/25 (Call 03/15/25)(a) |
460 | 433,317 | ||||||
Kimco Realty Corp. |
||||||||
2.80%, 10/01/26 (Call 07/01/26) |
360 | 318,997 | ||||||
3.30%, 02/01/25 (Call 12/01/24) |
1,177 | 1,119,829 | ||||||
LifeStorage LP/CA, 3.50%, 07/01/26 (Call 04/01/26)(a) |
564 | 524,336 | ||||||
Mid-America Apartments LP, 3.60%, 06/01/27 (Call 03/01/27) |
755 | 690,107 | ||||||
Omega Healthcare Investors Inc. |
||||||||
4.50%, 04/01/27 (Call 01/01/27) |
335 | 304,939 | ||||||
5.25%, 01/15/26 (Call 10/15/25) |
855 | 818,350 | ||||||
Prologis LP, 2.13%, 04/15/27 (Call 02/15/27) |
150 | 131,292 | ||||||
Public Storage |
||||||||
0.88%, 02/15/26 (Call 01/15/26) |
1,080 | 937,310 | ||||||
1.50%, 11/09/26 (Call 10/09/26) |
920 | 801,673 | ||||||
3.09%, 09/15/27 (Call 06/15/27) |
15 | 13,578 | ||||||
Realty Income Corp. |
||||||||
3.00%, 01/15/27 (Call 10/15/26) |
390 | 351,281 | ||||||
3.88%, 04/15/25 (Call 02/15/25) |
795 | 769,785 | ||||||
3.95%, 08/15/27 (Call 05/15/27) |
120 | 111,530 | ||||||
4.13%, 10/15/26 (Call 07/15/26) |
480 | 454,055 | ||||||
4.63%, 11/01/25 (Call 09/01/25) |
1,022 | 997,752 | ||||||
4.88%, 06/01/26 (Call 03/01/26) |
245 | 238,413 | ||||||
Regency Centers LP, 3.60%, 02/01/27 (Call 11/01/26) |
830 | 760,658 | ||||||
Sabra Health Care LP, 5.13%, 08/15/26 (Call 05/15/26)(a) |
740 | 671,840 | ||||||
Simon Property Group LP |
||||||||
1.38%, 01/15/27 (Call 10/15/26)(a) |
4,915 | 4,162,787 | ||||||
2.00%, 09/13/24 (Call 06/13/24) |
1,167 | 1,097,098 | ||||||
2.75%, 06/01/23 (Call 03/01/23) |
1,143 | 1,126,626 | ||||||
3.25%, 11/30/26 (Call 08/30/26) |
140 | 127,753 | ||||||
3.30%, 01/15/26 (Call 10/15/25) |
715 | 667,180 |
38 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts (continued) | ||||||||
3.38%, 10/01/24 (Call 07/01/24) |
$ | 1,095 | $ | 1,056,960 | ||||
3.38%, 06/15/27 (Call 03/15/27) |
200 | 182,157 | ||||||
3.50%, 09/01/25 (Call 06/01/25)(a) |
1,572 | 1,492,514 | ||||||
3.75%, 02/01/24 (Call 11/01/23) |
575 | 564,906 | ||||||
Ventas Realty LP |
||||||||
3.50%, 02/01/25 (Call 11/01/24) |
1,328 | 1,262,018 | ||||||
4.13%, 01/15/26 (Call 10/15/25) |
728 | 690,644 | ||||||
VICI Properties LP |
||||||||
4.38%, 05/15/25 |
270 | 255,865 | ||||||
4.75%, 02/15/28 (Call 01/15/28) |
1,200 | 1,094,669 | ||||||
Welltower Inc. |
||||||||
2.70%, 02/15/27 (Call 12/15/26) |
670 | 592,570 | ||||||
3.63%, 03/15/24 (Call 02/15/24) |
1,688 | 1,640,812 | ||||||
4.00%, 06/01/25 (Call 03/01/25) |
2,106 | 2,012,201 | ||||||
4.25%, 04/01/26 (Call 01/01/26) |
1,210 | 1,147,006 | ||||||
WP Carey Inc., 4.60%, 04/01/24 (Call 01/01/24) |
395 | 388,844 | ||||||
|
|
|||||||
77,447,752 | ||||||||
Retail — 2.2% | ||||||||
AutoZone Inc. |
||||||||
3.13%, 07/15/23 (Call 04/15/23)(a) |
658 | 648,290 | ||||||
3.63%, 04/15/25 (Call 03/15/25) |
1,275 | 1,223,446 | ||||||
3.75%, 06/01/27 (Call 03/01/27) |
770 | 719,058 | ||||||
Costco Wholesale Corp. |
||||||||
1.38%, 06/20/27 (Call 04/20/27) |
1,020 | 876,805 | ||||||
2.75%, 05/18/24 (Call 03/18/24) |
2,047 | 1,988,889 | ||||||
3.00%, 05/18/27 (Call 02/18/27) |
1,475 | 1,374,049 | ||||||
Dollar General Corp. |
||||||||
3.88%, 04/15/27 (Call 01/15/27) |
775 | 727,751 | ||||||
4.15%, 11/01/25 (Call 08/01/25) |
1,029 | 993,699 | ||||||
4.25%, 09/20/24 |
725 | 712,359 | ||||||
4.63%, 11/01/27 (Call 10/01/27) |
600 | 579,239 | ||||||
Dollar Tree Inc., 4.00%, 05/15/25 (Call 03/15/25) |
1,915 | 1,856,664 | ||||||
Genuine Parts Co., 1.75%, 02/01/25 (Call 02/01/23) |
870 | 802,256 | ||||||
Home Depot Inc. (The) |
||||||||
2.13%, 09/15/26 (Call 06/15/26) |
795 | 716,500 | ||||||
2.50%, 04/15/27 (Call 02/15/27)(a) |
130 | 117,504 | ||||||
2.70%, 04/01/23 (Call 01/01/23)(a) |
915 | 907,854 | ||||||
2.70%, 04/15/25 (Call 03/15/25) |
770 | 732,143 | ||||||
2.80%, 09/14/27 (Call 06/14/27)(a) |
15 | 13,630 | ||||||
2.88%, 04/15/27 (Call 03/15/27)(a) |
3,380 | 3,104,910 | ||||||
3.00%, 04/01/26 (Call 01/01/26)(a) |
1,922 | 1,807,148 | ||||||
3.35%, 09/15/25 (Call 06/15/25) |
1,268 | 1,216,974 | ||||||
3.75%, 02/15/24 (Call 11/15/23) |
1,581 | 1,565,561 | ||||||
4.00%, 09/15/25 (Call 08/15/25)(a) |
365 | 357,335 | ||||||
Lowe’s Companies Inc. |
||||||||
2.50%, 04/15/26 (Call 01/15/26) |
2,246 | 2,056,301 | ||||||
3.10%, 05/03/27 (Call 02/03/27) |
680 | 620,907 | ||||||
3.35%, 04/01/27 (Call 03/01/27) |
850 | 785,741 | ||||||
3.38%, 09/15/25 (Call 06/15/25) |
1,881 | 1,786,806 | ||||||
3.88%, 09/15/23 (Call 06/15/23)(a) |
850 | 842,449 | ||||||
4.00%, 04/15/25 (Call 03/15/25) |
1,844 | 1,797,863 | ||||||
4.40%, 09/08/25 |
1,290 | 1,264,760 | ||||||
McDonald’s Corp. |
||||||||
1.45%, 09/01/25 (Call 08/01/25)(a) |
1,060 | 965,215 | ||||||
3.25%, 06/10/24(a) |
626 | 609,365 | ||||||
3.30%, 07/01/25 (Call 06/01/25) |
1,796 | 1,727,170 | ||||||
3.35%, 04/01/23 (Call 03/01/23) |
338 | 335,664 | ||||||
3.38%, 05/26/25 (Call 02/26/25) |
1,820 | 1,747,139 | ||||||
3.50%, 03/01/27 (Call 12/01/26) |
775 | 726,827 | ||||||
3.50%, 07/01/27 (Call 05/01/27) |
1,165 | 1,084,029 |
Security |
Par (000) |
Value | ||||||
Retail (continued) | ||||||||
3.70%, 01/30/26 (Call 10/30/25) |
$ | 1,823 | $ | 1,750,231 | ||||
O’Reilly Automotive Inc. |
||||||||
3.55%, 03/15/26 (Call 12/15/25)(a) |
1,303 | 1,229,774 | ||||||
3.60%, 09/01/27 (Call 06/01/27)(a) |
10 | 9,183 | ||||||
Ross Stores Inc. |
||||||||
0.88%, 04/15/26 (Call 03/15/26) |
837 | 719,298 | ||||||
4.60%, 04/15/25 (Call 03/15/25) |
1,670 | 1,635,884 | ||||||
Starbucks Corp. |
||||||||
2.00%, 03/12/27 (Call 01/12/27) |
475 | 413,804 | ||||||
2.45%, 06/15/26 (Call 03/15/26)(a) |
495 | 451,456 | ||||||
3.10%, 03/01/23 (Call 02/01/23) |
954 | 947,387 | ||||||
3.80%, 08/15/25 (Call 06/15/25)(a) |
1,734 | 1,679,347 | ||||||
3.85%, 10/01/23 (Call 07/01/23) |
837 | 827,347 | ||||||
Target Corp. |
||||||||
1.95%, 01/15/27 (Call 12/15/26)(a) |
1,340 | 1,198,641 | ||||||
2.25%, 04/15/25 (Call 03/15/25) |
3,137 | 2,945,690 | ||||||
2.50%, 04/15/26 |
1,308 | 1,209,049 | ||||||
3.50%, 07/01/24 |
2,488 | 2,434,487 | ||||||
TJX Companies Inc. (The) |
||||||||
2.25%, 09/15/26 (Call 06/15/26) |
880 | 793,715 | ||||||
2.50%, 05/15/23 (Call 02/15/23) |
596 | 588,898 | ||||||
Walgreens Boots Alliance Inc., 0.95%, 11/17/23 (Call 12/01/22) |
400 | 382,680 | ||||||
Walmart Inc. |
||||||||
2.35%, 12/15/22 (Call 12/01/22)(a) |
1,392 | 1,389,165 | ||||||
2.55%, 04/11/23 (Call 01/11/23) |
1,043 | 1,032,827 | ||||||
2.65%, 12/15/24 (Call 10/15/24) |
80 | 76,783 | ||||||
2.85%, 07/08/24 (Call 06/08/24)(a) |
854 | 829,143 | ||||||
3.05%, 07/08/26 (Call 05/08/26)(a) |
910 | 865,976 | ||||||
3.30%, 04/22/24 (Call 01/22/24) |
2,263 | 2,216,665 | ||||||
3.40%, 06/26/23 (Call 05/26/23) |
600 | 595,643 | ||||||
3.55%, 06/26/25 (Call 04/26/25) |
790 | 768,834 | ||||||
|
|
|||||||
66,384,207 | ||||||||
Semiconductors — 1.9% | ||||||||
Analog Devices Inc., 3.50%, 12/05/26 (Call 09/05/26)(a) |
1,800 | 1,699,252 | ||||||
Applied Materials Inc. |
||||||||
3.30%, 04/01/27 (Call 01/01/27)(a) |
1,145 | 1,076,310 | ||||||
3.90%, 10/01/25 (Call 07/01/25)(a) |
1,310 | 1,274,302 | ||||||
Broadcom Corp./Broadcom Cayman Finance Ltd. |
||||||||
3.63%, 01/15/24 (Call 11/15/23) |
1,765 | 1,728,271 | ||||||
3.88%, 01/15/27 (Call 10/15/26) |
3,658 | 3,361,706 | ||||||
Broadcom Inc. |
||||||||
3.15%, 11/15/25 (Call 10/15/25) |
2,508 | 2,338,122 | ||||||
3.46%, 09/15/26 (Call 07/15/26) |
610 | 560,511 | ||||||
3.63%, 10/15/24 (Call 09/15/24) |
1,239 | 1,197,773 | ||||||
Intel Corp. |
||||||||
2.60%, 05/19/26 (Call 02/19/26)(a) |
2,545 | 2,353,466 | ||||||
2.70%, 12/15/22(a) |
2,122 | 2,118,325 | ||||||
2.88%, 05/11/24 (Call 03/11/24) |
1,663 | 1,613,835 | ||||||
3.15%, 05/11/27 (Call 02/11/27) |
35 | 32,331 | ||||||
3.40%, 03/25/25 (Call 02/25/25) |
2,595 | 2,507,944 | ||||||
3.70%, 07/29/25 (Call 04/29/25) |
1,729 | 1,678,334 | ||||||
3.75%, 03/25/27 (Call 01/25/27)(a) |
1,355 | 1,284,971 | ||||||
3.75%, 08/05/27 (Call 07/05/27) |
350 | 328,970 | ||||||
KLA Corp., 4.65%, 11/01/24 (Call 08/01/24)(a) |
752 | 748,184 | ||||||
Lam Research Corp. |
||||||||
3.75%, 03/15/26 (Call 01/15/26) |
1,758 | 1,685,555 | ||||||
3.80%, 03/15/25 (Call 12/15/24) |
1,088 | 1,059,570 | ||||||
Marvell Technology Inc., 1.65%, 04/15/26 (Call 03/15/26) |
1,656 | 1,431,635 |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Semiconductors (continued) | ||||||||
Microchip Technology Inc. |
||||||||
0.98%, 09/01/24 |
$ | 265 | $ | 243,227 | ||||
2.67%, 09/01/23(a) |
237 | 232,125 | ||||||
4.25%, 09/01/25 (Call 12/01/22) |
1,780 | 1,698,417 | ||||||
4.33%, 06/01/23 (Call 05/01/23) |
824 | 818,840 | ||||||
Micron Technology Inc. |
||||||||
4.19%, 02/15/27 (Call 12/15/26) |
2,440 | 2,263,872 | ||||||
4.98%, 02/06/26 (Call 12/06/25) |
635 | 618,292 | ||||||
NVIDIA Corp. |
||||||||
0.31%, 06/15/23 (Call 12/01/22) |
140 | 136,134 | ||||||
0.58%, 06/14/24 (Call 06/14/23) |
2,680 | 2,500,389 | ||||||
3.20%, 09/16/26 (Call 06/16/26) |
1,135 | 1,066,528 | ||||||
NXP BV/NXP Funding LLC |
||||||||
4.88%, 03/01/24 (Call 02/01/24) |
1,825 | 1,804,252 | ||||||
5.35%, 03/01/26 (Call 01/01/26) |
780 | 759,811 | ||||||
NXP BV/NXP Funding LLC/NXP USA Inc. |
||||||||
2.70%, 05/01/25 (Call 04/01/25) |
837 | 773,090 | ||||||
3.15%, 05/01/27 (Call 03/01/27) |
80 | 70,837 | ||||||
3.88%, 06/18/26 (Call 04/18/26)(a) |
555 | 516,117 | ||||||
4.40%, 06/01/27 (Call 05/01/27)(a) |
745 | 697,322 | ||||||
Qorvo Inc., 1.75%, 12/15/24 (Call 12/15/22)(d) |
575 | 525,350 | ||||||
QUALCOMM Inc. |
||||||||
2.60%, 01/30/23 (Call 12/30/22)(a) |
1,580 | 1,572,177 | ||||||
2.90%, 05/20/24 (Call 03/20/24)(a) |
1,777 | 1,721,825 | ||||||
3.25%, 05/20/27 (Call 02/20/27)(a) |
3,385 | 3,144,380 | ||||||
3.45%, 05/20/25 (Call 02/20/25)(a) |
1,477 | 1,424,050 | ||||||
Skyworks Solutions Inc. |
||||||||
0.90%, 06/01/23 (Call 11/16/22) |
325 | 315,691 | ||||||
1.80%, 06/01/26 (Call 05/01/26) |
1,067 | 910,819 | ||||||
Texas Instruments Inc. |
||||||||
1.13%, 09/15/26 (Call 08/15/26) |
885 | 770,904 | ||||||
1.38%, 03/12/25 (Call 02/12/25) |
1,387 | 1,280,984 | ||||||
2.25%, 05/01/23 (Call 02/01/23)(a) |
406 | 401,321 | ||||||
Xilinx Inc., 2.95%, 06/01/24 (Call 04/01/24) |
1,795 | 1,738,674 | ||||||
|
|
|||||||
58,084,795 | ||||||||
Shipbuilding — 0.0% | ||||||||
Huntington Ingalls Industries Inc., 3.84%, 05/01/25 (Call 04/01/25) |
397 | 378,275 | ||||||
|
|
|||||||
Software — 3.1% | ||||||||
Activision Blizzard Inc., 3.40%, 09/15/26 (Call 06/15/26) |
1,485 | 1,399,209 | ||||||
Adobe Inc. |
||||||||
1.70%, 02/01/23 |
592 | 587,543 | ||||||
1.90%, 02/01/25 (Call 01/01/25) |
1,096 | 1,028,846 | ||||||
2.15%, 02/01/27 (Call 12/01/26) |
1,070 | 960,380 | ||||||
3.25%, 02/01/25 (Call 11/01/24) |
1,369 | 1,323,485 | ||||||
Autodesk Inc., 3.50%, 06/15/27 (Call 03/15/27) |
260 | 238,230 | ||||||
Broadridge Financial Solutions Inc., 3.40%, 06/27/26 (Call 03/27/26) |
1,120 | 1,032,497 | ||||||
Fidelity National Information Services Inc. |
||||||||
0.38%, 03/01/23 |
650 | 641,176 | ||||||
0.60%, 03/01/24(a) |
1,575 | 1,479,812 | ||||||
1.15%, 03/01/26 (Call 02/01/26) |
2,482 | 2,143,022 | ||||||
4.50%, 07/15/25 |
445 | 432,869 | ||||||
4.70%, 07/15/27 (Call 06/15/27)(a) |
925 | 884,965 | ||||||
Fiserv Inc. |
||||||||
2.25%, 06/01/27 (Call 04/01/27)(a) |
475 | 410,769 | ||||||
2.75%, 07/01/24 (Call 06/01/24) |
2,605 | 2,493,046 | ||||||
3.20%, 07/01/26 (Call 05/01/26) |
3,035 | 2,784,833 | ||||||
3.80%, 10/01/23 (Call 09/01/23) |
1,775 | 1,748,931 |
Security |
Par (000) |
Value | ||||||
Software (continued) | ||||||||
3.85%, 06/01/25 (Call 03/01/25) |
$ | 1,505 | $ | 1,444,220 | ||||
Intuit Inc. |
||||||||
0.65%, 07/15/23(a) |
1,212 | 1,176,098 | ||||||
0.95%, 07/15/25 (Call 06/15/25) |
1,531 | 1,377,798 | ||||||
1.35%, 07/15/27 (Call 05/15/27)(a) |
890 | 751,153 | ||||||
Microsoft Corp. |
||||||||
2.00%, 08/08/23 (Call 06/08/23)(a) |
1,899 | 1,866,725 | ||||||
2.13%, 11/15/22 |
407 | 406,739 | ||||||
2.38%, 05/01/23 (Call 02/01/23)(a) |
1,564 | 1,548,407 | ||||||
2.40%, 08/08/26 (Call 05/08/26) |
5,277 | 4,881,570 | ||||||
2.70%, 02/12/25 (Call 11/12/24) |
2,710 | 2,599,879 | ||||||
2.88%, 02/06/24 (Call 12/06/23)(a) |
3,268 | 3,202,101 | ||||||
3.13%, 11/03/25 (Call 08/03/25) |
1,905 | 1,831,665 | ||||||
3.30%, 02/06/27 (Call 11/06/26) |
4,530 | 4,305,432 | ||||||
3.63%, 12/15/23 (Call 09/15/23)(a) |
1,926 | 1,907,310 | ||||||
Oracle Corp. |
||||||||
1.65%, 03/25/26 (Call 02/25/26)(a) |
3,697 | 3,249,164 | ||||||
2.40%, 09/15/23 (Call 07/15/23)(a) |
3,280 | 3,198,451 | ||||||
2.50%, 04/01/25 (Call 03/01/25)(a) |
4,700 | 4,392,593 | ||||||
2.63%, 02/15/23 (Call 01/15/23) |
1,783 | 1,771,036 | ||||||
2.65%, 07/15/26 (Call 04/15/26) |
5,292 | 4,756,765 | ||||||
2.80%, 04/01/27 (Call 02/01/27)(a) |
2,595 | 2,293,336 | ||||||
2.95%, 11/15/24 (Call 09/15/24) |
2,942 | 2,808,345 | ||||||
2.95%, 05/15/25 (Call 02/15/25)(a) |
837 | 786,855 | ||||||
3.40%, 07/08/24 (Call 04/08/24)(a) |
3,377 | 3,275,810 | ||||||
3.63%, 07/15/23(a) |
1,541 | 1,524,181 | ||||||
Roper Technologies Inc. |
||||||||
1.00%, 09/15/25 (Call 08/15/25) |
1,793 | 1,587,387 | ||||||
1.40%, 09/15/27 (Call 07/15/27) |
20 | 16,441 | ||||||
2.35%, 09/15/24 (Call 08/15/24) |
872 | 828,415 | ||||||
3.65%, 09/15/23 (Call 08/15/23) |
1,264 | 1,248,231 | ||||||
3.80%, 12/15/26 (Call 09/15/26) |
1,029 | 963,318 | ||||||
salesforce.com Inc. |
||||||||
0.63%, 07/15/24 (Call 12/01/22) |
2,330 | 2,170,470 | ||||||
3.25%, 04/11/23 (Call 03/11/23) |
728 | 722,711 | ||||||
Take-Two Interactive Software Inc. |
||||||||
3.30%, 03/28/24 |
385 | 373,431 | ||||||
3.55%, 04/14/25 |
870 | 830,124 | ||||||
3.70%, 04/14/27 (Call 03/14/27) |
2,420 | 2,236,652 | ||||||
VMware Inc. |
||||||||
0.60%, 08/15/23 |
716 | 689,209 | ||||||
1.00%, 08/15/24 (Call 12/01/22) |
760 | 701,437 | ||||||
1.40%, 08/15/26 (Call 07/15/26) |
2,745 | 2,344,502 | ||||||
3.90%, 08/21/27 (Call 05/21/27) |
1,130 | 1,035,403 | ||||||
4.50%, 05/15/25 (Call 04/15/25) |
1,532 | 1,493,583 | ||||||
4.65%, 05/15/27 (Call 03/15/27) |
365 | 345,451 | ||||||
Workday Inc., 3.50%, 04/01/27 (Call 03/01/27) |
1,080 | 995,952 | ||||||
|
|
|||||||
93,527,963 | ||||||||
Telecommunications — 2.2% | ||||||||
AT&T Inc. |
||||||||
0.90%, 03/25/24 (Call 11/14/22)(a) |
2,497 | 2,356,596 | ||||||
1.70%, 03/25/26 (Call 03/25/23) |
4,455 | 3,931,791 | ||||||
2.30%, 06/01/27 (Call 04/01/27) |
3,732 | 3,257,329 | ||||||
3.80%, 02/15/27 (Call 11/15/26)(a) |
1,505 | 1,408,695 | ||||||
4.25%, 03/01/27 (Call 12/01/26)(a) |
1,355 | 1,296,600 | ||||||
Bell Telephone Co. of Canada or Bell Canada (The), Series US-3, 0.75%, 03/17/24 |
1,300 | 1,223,283 | ||||||
British Telecommunications PLC, 4.50%, 12/04/23 (Call 11/04/23) |
1,013 | 999,838 |
40 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
|
||||||||
Telecommunications (continued) | ||||||||
Cisco Systems Inc. |
||||||||
2.20%, 09/20/23 (Call 07/20/23)(a) |
$ | 887 | $ | 867,523 | ||||
2.50%, 09/20/26 (Call 06/20/26)(a) |
1,213 | 1,120,383 | ||||||
2.60%, 02/28/23(a) |
325 | 322,833 | ||||||
2.95%, 02/28/26 |
1,555 | 1,469,721 | ||||||
3.50%, 06/15/25 |
1,010 | 980,435 | ||||||
3.63%, 03/04/24 |
1,642 | 1,617,346 | ||||||
Rogers Communications Inc. |
||||||||
2.90%, 11/15/26 (Call 08/15/26)(a) |
280 | 251,106 | ||||||
2.95%, 03/15/25 (Call 03/15/23)(d) |
1,330 | 1,253,879 | ||||||
3.00%, 03/15/23 (Call 12/15/22) |
612 | 607,902 | ||||||
3.20%, 03/15/27 (Call 02/15/27)(a)(d) |
2,130 | 1,934,649 | ||||||
3.63%, 12/15/25 (Call 09/15/25) |
1,599 | 1,494,710 | ||||||
4.10%, 10/01/23 (Call 07/01/23) |
1,328 | 1,311,082 | ||||||
Telefonica Emisiones SA, 4.10%, 03/08/27 |
3,100 | 2,836,839 | ||||||
TELUS Corp. |
||||||||
2.80%, 02/16/27 (Call 11/16/26) |
855 | 772,123 | ||||||
3.70%, 09/15/27 (Call 06/15/27) |
25 | 23,146 | ||||||
T-Mobile USA Inc. |
||||||||
1.50%, 02/15/26 (Call 01/15/26) |
1,100 | 965,506 | ||||||
2.25%, 02/15/26 (Call 02/15/23) |
2,610 | 2,343,785 | ||||||
2.63%, 04/15/26 (Call 04/15/23) |
2,555 | 2,307,761 | ||||||
3.50%, 04/15/25 (Call 03/15/25) |
3,707 | 3,531,766 | ||||||
3.75%, 04/15/27 (Call 02/15/27) |
5,770 | 5,320,553 | ||||||
5.38%, 04/15/27 (Call 11/14/22)(a) |
835 | 813,817 | ||||||
Verizon Communications Inc. |
||||||||
0.75%, 03/22/24(a) |
630 | 594,786 | ||||||
0.85%, 11/20/25 (Call 10/20/25) |
556 | 488,315 | ||||||
1.45%, 03/20/26 (Call 02/20/26)(a) |
3,063 | 2,699,832 | ||||||
2.63%, 08/15/26(a) |
3,110 | 2,827,881 | ||||||
3.00%, 03/22/27 (Call 01/22/27) |
4,900 | 4,441,910 | ||||||
3.38%, 02/15/25 |
2,519 | 2,430,855 | ||||||
3.50%, 11/01/24 (Call 08/01/24)(a) |
2,375 | 2,305,092 | ||||||
4.13%, 03/16/27(a) |
380 | 361,628 | ||||||
Vodafone Group PLC |
||||||||
2.95%, 02/19/23(a) |
305 | 302,934 | ||||||
3.75%, 01/16/24(a) |
552 | 544,372 | ||||||
4.13%, 05/30/25 |
2,104 | 2,047,794 | ||||||
|
|
|||||||
65,666,396 | ||||||||
Toys, Games & Hobbies — 0.1% | ||||||||
Hasbro Inc. |
||||||||
3.00%, 11/19/24 (Call 10/19/24) |
864 | 820,181 | ||||||
3.50%, 09/15/27 (Call 06/15/27) |
55 | 49,429 | ||||||
3.55%, 11/19/26 (Call 09/19/26)(a) |
1,410 | 1,290,791 | ||||||
|
|
|||||||
2,160,401 | ||||||||
Transportation — 1.0% | ||||||||
Burlington Northern Santa Fe LLC |
||||||||
3.00%, 03/15/23 (Call 12/15/22) |
412 | 409,213 | ||||||
3.00%, 04/01/25 (Call 01/01/25)(a) |
1,259 | 1,204,460 | ||||||
3.25%, 06/15/27 (Call 03/15/27) |
380 | 352,549 | ||||||
3.40%, 09/01/24 (Call 06/01/24) |
1,203 | 1,169,236 | ||||||
3.75%, 04/01/24 (Call 01/01/24) |
855 | 840,037 | ||||||
3.85%, 09/01/23 (Call 06/01/23)(a) |
1,624 | 1,611,056 | ||||||
Canadian National Railway Co., 2.75%, 03/01/26 (Call 12/01/25) |
1,272 | 1,178,043 | ||||||
Canadian Pacific Railway Co. |
||||||||
1.35%, 12/02/24 (Call 12/02/22)(a) |
905 | 835,029 | ||||||
1.75%, 12/02/26 (Call 11/02/26) |
1,645 | 1,428,110 | ||||||
2.90%, 02/01/25 (Call 11/01/24) |
1,034 | 982,561 |
Security |
Par/ Shares (000) |
Value | ||||||
|
||||||||
Transportation (continued) | ||||||||
CSX Corp. |
||||||||
2.60%, 11/01/26 (Call 08/01/26)(a) |
$ | 95 | $ | 86,142 | ||||
3.25%, 06/01/27 (Call 03/01/27) |
955 | 875,065 | ||||||
3.35%, 11/01/25 (Call 08/01/25) |
755 | 714,591 | ||||||
3.40%, 08/01/24 (Call 05/01/24)(a) |
1,538 | 1,494,970 | ||||||
FedEx Corp., 3.25%, 04/01/26 (Call 01/01/26)(a) |
1,357 | 1,276,489 | ||||||
Norfolk Southern Corp. |
||||||||
2.90%, 02/15/23 (Call 12/01/22) |
1,362 | 1,356,423 | ||||||
2.90%, 06/15/26 (Call 03/15/26)(a) |
175 | 161,834 | ||||||
Ryder System Inc. |
||||||||
2.50%, 09/01/24 (Call 08/01/24) |
1,010 | 961,856 | ||||||
3.65%, 03/18/24 (Call 02/18/24) |
928 | 906,799 | ||||||
Union Pacific Corp. |
||||||||
2.15%, 02/05/27 (Call 12/05/26)(a) |
760 | 677,314 | ||||||
2.75%, 03/01/26 (Call 12/01/25) |
1,280 | 1,191,054 | ||||||
3.00%, 04/15/27 (Call 01/15/27)(a) |
150 | 137,336 | ||||||
3.15%, 03/01/24 (Call 02/01/24) |
942 | 920,292 | ||||||
3.25%, 08/15/25 (Call 05/15/25) |
755 | 721,438 | ||||||
3.50%, 06/08/23 (Call 05/08/23)(a) |
931 | 922,891 | ||||||
3.75%, 07/15/25 (Call 05/15/25) |
916 | 888,093 | ||||||
United Parcel Service Inc. |
||||||||
2.40%, 11/15/26 (Call 08/15/26) |
1,454 | 1,320,181 | ||||||
2.50%, 04/01/23 (Call 03/01/23)(a) |
245 | 243,073 | ||||||
2.80%, 11/15/24 (Call 09/15/24) |
736 | 705,292 | ||||||
3.90%, 04/01/25 (Call 03/01/25) |
1,676 | 1,638,332 | ||||||
Walmart Inc. |
||||||||
1.05%, 09/17/26 (Call 08/17/26) |
1,740 | 1,514,336 | ||||||
3.95%, 09/09/27 (Call 08/09/27) |
620 | 599,905 | ||||||
|
|
|||||||
29,324,000 | ||||||||
Water — 0.0% | ||||||||
American Water Capital Corp., 3.40%, 03/01/25 (Call 12/01/24) |
940 | 901,955 | ||||||
|
|
|||||||
Total
Long-Term Investments — 98.9% |
|
2,960,324,717 | ||||||
|
|
|||||||
Short-Term Securities |
||||||||
Money Market Funds — 7.9% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.29%(e)(f)(g) |
222,045 | 222,000,166 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.97%(e)(f) |
15,158 | 15,158,000 | ||||||
|
|
|||||||
Total
Short-Term Securities — 7.9% |
|
237,158,166 | ||||||
|
|
|||||||
Total
Investments — 106.8% |
|
3,197,482,883 | ||||||
Liabilities in Excess of Other Assets — (6.8)% |
|
(204,676,531 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 2,992,806,352 | ||||||
|
|
(a) |
All or a portion of this security is on loan. |
(b) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(c) |
Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
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 (continued) October 31, 2022 |
iShares® 0-5 Year Investment Grade Corporate Bond ETF |
(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) |
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
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer |
Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 124,111,752 | $ | 97,988,066 | (a) | $ | — | $ | (60,761 | ) | $ | (38,891 | ) | $ | 222,000,166 | 222,045 | $ | 351,813 | (b) | $ | — | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
1,718,000 | 13,440,000 | (a) | — | — | — | 15,158,000 | 15,158 | 251,531 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (60,761 | ) | $ | (38,891 | ) | $ | 237,158,166 | $ | 603,344 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Corporate Bonds & Notes |
$ | — | $ | 2,960,324,717 | $ | — | $ | 2,960,324,717 | ||||||||
Money Market Funds |
237,158,166 | — | — | 237,158,166 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 237,158,166 | $ | 2,960,324,717 | $ | — | $ | 3,197,482,883 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
42 |
2 0 2 2 I S H A R E S 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 October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Corporate Bonds & Notes |
||||||||
Aerospace & Defense — 0.8% | ||||||||
General Dynamics Corp. |
||||||||
1.15%, 06/01/26 (Call 05/01/26) |
$ | 215 | $ | 187,794 | ||||
2.13%, 08/15/26 (Call 05/15/26) |
190 | 170,854 | ||||||
2.25%, 06/01/31 (Call 03/01/31) |
185 | 150,568 | ||||||
2.38%, 11/15/24 (Call 09/15/24) |
105 | 99,553 | ||||||
2.63%, 11/15/27 (Call 08/15/27) |
228 | 202,763 | ||||||
2.85%, 06/01/41 (Call 12/01/40) |
80 | 55,698 | ||||||
3.25%, 04/01/25 (Call 03/01/25) |
115 | 110,567 | ||||||
3.50%, 05/15/25 (Call 03/15/25) |
57 | 55,221 | ||||||
3.50%, 04/01/27 (Call 02/01/27) |
32 | 30,085 | ||||||
3.60%, 11/15/42 (Call 05/15/42)(a) |
108 | 82,932 | ||||||
3.63%, 04/01/30 (Call 01/01/30) |
380 | 346,100 | ||||||
3.75%, 05/15/28 (Call 02/15/28) |
274 | 256,143 | ||||||
4.25%, 04/01/40 (Call 10/01/39) |
369 | 317,680 | ||||||
4.25%, 04/01/50 (Call 10/01/49) |
207 | 173,075 | ||||||
Lockheed Martin Corp. |
||||||||
2.80%, 06/15/50 (Call 12/15/49) |
184 | 117,145 | ||||||
3.55%, 01/15/26 (Call 10/15/25) |
117 | 112,628 | ||||||
3.60%, 03/01/35 (Call 09/01/34) |
178 | 152,437 | ||||||
3.80%, 03/01/45 (Call 09/01/44) |
390 | 301,610 | ||||||
3.90%, 06/15/32 (Call 03/15/32)(a) |
260 | 237,827 | ||||||
4.07%, 12/15/42 |
383 | 314,435 | ||||||
4.09%, 09/15/52 (Call 03/15/52) |
381 | 301,474 | ||||||
4.15%, 06/15/53 (Call 12/15/52) |
455 | 364,915 | ||||||
4.30%, 06/15/62 (Call 12/15/61) |
200 | 159,900 | ||||||
4.50%, 05/15/36 (Call 11/15/35)(a) |
145 | 131,805 | ||||||
4.70%, 05/15/46 (Call 11/15/45) |
463 | 409,014 | ||||||
4.95%, 10/15/25 |
40 | 40,037 | ||||||
5.10%, 11/15/27 |
70 | 70,151 | ||||||
5.25%, 01/15/33 |
100 | 100,322 | ||||||
5.70%, 11/15/54 |
295 | 297,599 | ||||||
5.90%, 11/15/63 |
275 | 279,749 | ||||||
Series B, 6.15%, 09/01/36 |
210 | 220,968 | ||||||
|
|
|||||||
5,851,049 | ||||||||
Agriculture — 0.7% | ||||||||
Archer-Daniels-Midland Co. |
||||||||
2.50%, 08/11/26 (Call 05/11/26) |
403 | 368,451 | ||||||
2.70%, 09/15/51 (Call 03/15/51) |
200 | 125,344 | ||||||
2.90%, 03/01/32 (Call 12/01/31) |
120 | 100,265 | ||||||
3.25%, 03/27/30 (Call 12/27/29) |
410 | 361,940 | ||||||
4.50%, 03/15/49 (Call 09/15/48) |
268 | 232,961 | ||||||
Philip Morris International Inc. |
||||||||
0.88%, 05/01/26 (Call 04/01/26) |
230 | 196,809 | ||||||
1.50%, 05/01/25 (Call 04/01/25) |
265 | 241,484 | ||||||
1.75%, 11/01/30 (Call 08/01/30)(a) |
205 | 150,566 | ||||||
2.10%, 05/01/30 (Call 02/01/30) |
266 | 203,064 | ||||||
2.75%, 02/25/26 (Call 11/25/25)(a) |
324 | 297,348 | ||||||
2.88%, 05/01/24 (Call 04/01/24) |
145 | 140,028 | ||||||
3.13%, 08/17/27 (Call 05/17/27)(a) |
240 | 215,957 | ||||||
3.13%, 03/02/28 (Call 12/02/27)(a) |
60 | 52,439 | ||||||
3.25%, 11/10/24 |
287 | 276,332 | ||||||
3.38%, 08/11/25 (Call 05/11/25) |
240 | 227,815 | ||||||
3.38%, 08/15/29 (Call 05/15/29)(a) |
209 | 178,760 | ||||||
3.88%, 08/21/42 |
285 | 188,978 | ||||||
4.13%, 03/04/43 |
214 | 145,854 | ||||||
4.25%, 11/10/44 |
388 | 269,388 | ||||||
4.38%, 11/15/41 |
321 | 231,935 | ||||||
4.50%, 03/20/42 |
296 | 216,346 |
Security | Par (000) |
Value | ||||||
Agriculture (continued) | ||||||||
4.88%, 11/15/43(a) |
$ | 272 | $ | 209,111 | ||||
6.38%, 05/16/38 |
470 | 438,308 | ||||||
|
|
|||||||
5,069,483 | ||||||||
Airlines — 0.2% | ||||||||
American Airlines Pass Through Trust, Series A, Class A, 2.88%, 01/11/36 |
175 | 136,239 | ||||||
Delta Air Lines Pass Through Trust, Series 2020, Class AA, 2.00%, 12/10/29 |
70 | 59,503 | ||||||
JetBlue Pass Through Trust |
||||||||
Series 1A, Class A, 4.00%, 05/15/34(a) |
86 | 75,082 | ||||||
Series 2019-1, Class AA, 2.75%, 11/15/33(a) |
175 | 139,651 | ||||||
United Airlines Pass Through Trust |
||||||||
Series 2016-1, Class AA, 3.10%, 01/07/30 |
291 | 248,780 | ||||||
Series 2018-1, Class AA, 3.50%, 09/01/31 |
249 | 210,944 | ||||||
Series 2019, Class AA, 4.15%, 08/25/31(a) |
62 | 54,524 | ||||||
Series 2019-2, Class AA, 2.70%, 11/01/33 |
238 | 188,863 | ||||||
Series 2020-1, Class A, 5.88%, 10/15/27(a) |
664 | 688,754 | ||||||
|
|
|||||||
1,802,340 | ||||||||
Apparel — 0.3% | ||||||||
NIKE Inc. |
||||||||
2.38%, 11/01/26 (Call 08/01/26) |
465 | 423,169 | ||||||
2.40%, 03/27/25 (Call 02/27/25) |
288 | 272,247 | ||||||
2.75%, 03/27/27 (Call 01/27/27) |
401 | 367,821 | ||||||
2.85%, 03/27/30 (Call 12/27/29)(a) |
362 | 314,060 | ||||||
3.25%, 03/27/40 (Call 09/27/39) |
297 | 225,738 | ||||||
3.38%, 11/01/46 (Call 05/01/46) |
235 | 171,153 | ||||||
3.38%, 03/27/50 (Call 09/27/49)(a) |
545 | 397,114 | ||||||
3.63%, 05/01/43 (Call 11/01/42) |
247 | 191,521 | ||||||
3.88%, 11/01/45 (Call 05/01/45)(a) |
335 | 267,427 | ||||||
Ralph Lauren Corp., 2.95%, 06/15/30 (Call 03/15/30)(a) |
140 | 117,006 | ||||||
|
|
|||||||
2,747,256 | ||||||||
Auto Manufacturers — 1.8% | ||||||||
American Honda Finance Corp. |
||||||||
0.55%, 07/12/24 |
307 | 284,589 | ||||||
0.75%, 08/09/24 |
300 | 278,361 | ||||||
1.00%, 09/10/25(a) |
300 | 267,432 | ||||||
1.20%, 07/08/25 |
330 | 297,706 | ||||||
1.30%, 09/09/26 |
185 | 160,497 | ||||||
1.50%, 01/13/25 |
470 | 435,977 | ||||||
1.80%, 01/13/31(a) |
35 | 26,815 | ||||||
2.00%, 03/24/28 |
405 | 340,188 | ||||||
2.15%, 09/10/24 |
355 | 336,757 | ||||||
2.25%, 01/12/29 |
265 | 220,970 | ||||||
2.30%, 09/09/26 |
361 | 322,391 | ||||||
2.35%, 01/08/27 |
147 | 130,690 | ||||||
2.40%, 06/27/24 |
251 | 240,257 | ||||||
2.90%, 02/16/24 |
244 | 237,258 | ||||||
3.50%, 02/15/28 |
21 | 19,119 | ||||||
Cummins Inc. |
||||||||
0.75%, 09/01/25 (Call 08/01/25) |
272 | 242,213 | ||||||
1.50%, 09/01/30 (Call 06/01/30) |
318 | 242,885 | ||||||
2.60%, 09/01/50 (Call 03/01/50)(a) |
245 | 144,780 | ||||||
4.88%, 10/01/43 (Call 04/01/43) |
170 | 151,239 | ||||||
Honda Motor Co. Ltd. |
||||||||
2.27%, 03/10/25 (Call 02/10/25) |
300 | 281,607 | ||||||
2.53%, 03/10/27 (Call 02/10/27) |
290 | 259,425 | ||||||
2.97%, 03/10/32 (Call 12/10/31) |
300 | 248,430 | ||||||
Mercedes-Benz Finance North America LLC, 8.50%, 01/18/31 |
325 | 379,015 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Auto Manufacturers (continued) | ||||||||
PACCAR Financial Corp. |
||||||||
3.15%, 06/13/24 |
$ | 170 | $ | 165,398 | ||||
3.55%, 08/11/25 |
435 | 420,884 | ||||||
Toyota Motor Corp. |
||||||||
0.68%, 03/25/24 (Call 02/25/24) |
120 | 113,012 | ||||||
1.34%, 03/25/26 (Call 02/25/26) |
486 | 429,308 | ||||||
2.36%, 07/02/24(a) |
265 | 254,164 | ||||||
2.36%, 03/25/31 (Call 12/25/30)(a) |
200 | 163,096 | ||||||
2.76%, 07/02/29 |
55 | 47,699 | ||||||
3.67%, 07/20/28 |
26 | 24,063 | ||||||
Toyota Motor Credit Corp. |
||||||||
0.50%, 06/18/24 |
150 | 139,535 | ||||||
0.63%, 09/13/24 |
280 | 258,504 | ||||||
0.80%, 10/16/25(a) |
450 | 397,840 | ||||||
0.80%, 01/09/26 |
70 | 61,146 | ||||||
1.13%, 06/18/26 |
395 | 343,006 | ||||||
1.15%, 08/13/27(a) |
360 | 299,142 | ||||||
1.45%, 01/13/25 |
410 | 380,066 | ||||||
1.65%, 01/10/31 |
205 | 156,171 | ||||||
1.80%, 02/13/25 |
458 | 427,126 | ||||||
1.90%, 01/13/27 |
230 | 201,572 | ||||||
1.90%, 04/06/28 |
255 | 215,886 | ||||||
1.90%, 09/12/31 |
185 | 141,170 | ||||||
2.00%, 10/07/24 |
285 | 269,288 | ||||||
2.15%, 02/13/30(a) |
235 | 192,162 | ||||||
2.50%, 03/22/24(a) |
325 | 314,246 | ||||||
2.90%, 04/17/24 |
313 | 303,804 | ||||||
3.00%, 04/01/25 |
438 | 417,655 | ||||||
3.05%, 03/22/27 |
130 | 119,009 | ||||||
3.05%, 01/11/28 |
150 | 135,699 | ||||||
3.20%, 01/11/27 |
307 | 283,950 | ||||||
3.35%, 01/08/24 |
— | — | ||||||
3.38%, 04/01/30 |
180 | 159,957 | ||||||
3.40%, 04/14/25 |
70 | 67,378 | ||||||
3.65%, 08/18/25 |
265 | 255,153 | ||||||
3.65%, 01/08/29(a) |
165 | 151,391 | ||||||
3.95%, 06/30/25 |
50 | 48,729 | ||||||
4.40%, 09/20/24 |
300 | 297,069 | ||||||
4.45%, 06/29/29(a) |
535 | 513,145 | ||||||
4.55%, 09/20/27 |
310 | 301,553 | ||||||
|
|
|||||||
14,017,577 | ||||||||
Auto Parts & Equipment — 0.1% | ||||||||
Magna International Inc. |
||||||||
2.45%, 06/15/30 (Call 03/15/30) |
141 | 112,927 | ||||||
3.63%, 06/15/24 (Call 03/15/24) |
314 | 306,395 | ||||||
4.15%, 10/01/25 (Call 07/01/25) |
378 | 367,333 | ||||||
|
|
|||||||
786,655 | ||||||||
Banks — 35.3% | ||||||||
Australia & New Zealand Banking Group Ltd./New York NY, 3.70%, 11/16/25 |
350 | 335,829 | ||||||
Banco Bilbao Vizcaya Argentaria SA, 1.13%, 09/18/25 |
385 | 336,267 | ||||||
Banco Santander SA |
||||||||
1.72%, 09/14/27 (Call 09/14/26)(b) |
490 | 399,845 | ||||||
1.85%, 03/25/26 |
500 | 426,800 | ||||||
2.71%, 06/27/24 |
355 | 337,211 | ||||||
2.75%, 05/28/25 |
610 | 553,856 | ||||||
2.96%, 03/25/31 |
255 | 189,042 | ||||||
3.31%, 06/27/29(a) |
405 | 337,636 | ||||||
3.49%, 05/28/30 |
500 | 394,745 |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.80%, 02/23/28 |
$ | 443 | $ | 376,413 | ||||
3.89%, 05/24/24 |
610 | 591,194 | ||||||
4.18%, 03/24/28 (Call 03/24/27)(b) |
315 | 277,430 | ||||||
4.25%, 04/11/27 |
230 | 207,681 | ||||||
4.38%, 04/12/28 |
483 | 424,456 | ||||||
5.15%, 08/18/25(a) |
200 | 192,378 | ||||||
5.29%, 08/18/27 |
400 | 369,300 | ||||||
Bank of America Corp. |
||||||||
0.98%, 04/22/25
(Call 04/22/24), |
410 | 379,746 | ||||||
0.98%, 09/25/25
(Call 09/25/24), |
556 | 505,226 | ||||||
1.20%, 10/24/26
(Call 10/24/25), |
510 | 442,471 | ||||||
1.32%, 06/19/26
(Call 06/19/25), |
381 | 336,530 | ||||||
1.53%, 12/06/25
(Call 12/06/24), |
460 | 419,377 | ||||||
1.73%, 07/22/27
(Call 07/22/26), |
670 | 572,709 | ||||||
1.84%, 02/04/25
(Call 02/04/24), |
480 | 454,752 | ||||||
1.90%, 07/23/31
(Call 07/23/30), |
500 | 370,955 | ||||||
1.92%, 10/24/31
(Call 10/24/30), |
530 | 389,380 | ||||||
2.02%, 02/13/26
(Call 02/13/25), |
235 | 215,034 | ||||||
2.09%, 06/14/29
(Call 06/14/28), |
620 | 501,704 | ||||||
2.30%, 07/21/32
(Call 07/21/31), |
560 | 414,618 | ||||||
2.46%, 10/22/25
(Call 10/22/24), |
337 | 314,263 | ||||||
2.50%, 02/13/31
(Call 02/13/30), |
600 | 471,030 | ||||||
2.55%, 02/04/28
(Call 02/04/27), |
560 | 484,333 | ||||||
2.57%, 10/20/32
(Call 10/20/31), |
600 | 453,102 | ||||||
2.59%, 04/29/31
(Call 04/29/30), |
594 | 469,551 | ||||||
2.68%, 06/19/41
(Call 06/19/40), |
485 | 307,461 | ||||||
2.69%, 04/22/32
(Call 04/22/31), |
765 | 590,419 | ||||||
2.83%, 10/24/51
(Call 10/24/50), |
180 | 104,737 | ||||||
2.88%, 10/22/30
(Call 10/22/29), |
245 | 199,763 | ||||||
2.97%, 02/04/33
(Call 02/04/32), |
680 | 526,918 | ||||||
2.97%, 07/21/52
(Call 07/21/51), |
410 | 243,479 | ||||||
3.09%, 10/01/25
(Call 10/01/24), |
453 | 428,842 | ||||||
3.19%, 07/23/30
(Call 07/23/29), |
421 | 352,259 | ||||||
3.25%, 10/21/27 (Call 10/21/26) |
634 | 566,301 | ||||||
3.31%, 04/22/42
(Call 04/22/41), |
530 | 366,490 | ||||||
3.37%, 01/23/26
(Call 01/23/25), |
125 | 117,789 | ||||||
3.38%, 04/02/26
(Call 04/02/25), |
560 | 525,890 | ||||||
3.42%, 12/20/28
(Call 12/20/27), |
757 | 668,537 | ||||||
3.46%, 03/15/25
(Call 03/15/24), |
380 | 366,347 | ||||||
3.50%, 04/19/26 |
515 | 481,432 | ||||||
3.56%, 04/23/27
(Call 04/23/26), |
557 | 512,602 | ||||||
3.59%, 07/21/28
(Call 07/21/27), |
184 | 164,939 | ||||||
3.71%, 04/24/28
(Call 04/24/27), |
265 | 239,814 | ||||||
3.82%, 01/20/28
(Call 01/20/27), |
490 | 447,987 | ||||||
3.84%, 04/25/25
(Call 04/25/24), |
275 | 266,065 | ||||||
3.88%, 08/01/25(a) |
443 | 428,075 |
44 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.95%, 01/23/49
(Call 01/23/48), |
$ | 249 | $ | 177,876 | ||||
3.97%, 03/05/29
(Call 03/05/28), |
369 | 331,521 | ||||||
3.97%, 02/07/30
(Call 02/07/29), |
585 | 517,643 | ||||||
4.00%, 04/01/24 |
90 | 88,727 | ||||||
4.08%, 04/23/40
(Call 04/23/39), |
313 | 243,821 | ||||||
4.08%, 03/20/51
(Call 03/20/50), |
708 | 525,534 | ||||||
4.24%, 04/24/38
(Call 04/24/37), |
373 | 302,962 | ||||||
4.27%, 07/23/29
(Call 07/23/28), |
558 | 506,937 | ||||||
4.33%, 03/15/50
(Call 03/15/49), |
494 | 383,853 | ||||||
4.38%, 04/27/28
(Call 04/27/27), |
425 | 395,284 | ||||||
4.44%, 01/20/48
(Call 01/20/47), |
295 | 233,507 | ||||||
4.57%, 04/27/33
(Call 04/27/32), |
690 | 612,485 | ||||||
4.83%, 07/22/26 (Call 07/22/25)(b) |
410 | 398,602 | ||||||
4.88%, 04/01/44 |
20 | 16,483 | ||||||
4.95%, 07/22/28 (Call 07/22/27)(b) |
410 | 391,107 | ||||||
5.00%, 01/21/44 |
387 | 330,796 | ||||||
5.02%, 07/22/33 (Call 07/22/32)(b) |
520 | 477,256 | ||||||
5.88%, 02/07/42 |
323 | 309,973 | ||||||
Series N,
1.66%, 03/11/27 (Call 03/11/26), |
525 | 453,379 | ||||||
Series N,
2.65%, 03/11/32 (Call 03/11/31), |
431 | 332,241 | ||||||
Series N,
3.48%, 03/13/52 (Call 03/13/51), |
180 | 118,910 | ||||||
Bank of America NA, 6.00%, 10/15/36 |
366 | 356,111 | ||||||
Bank of Montreal |
||||||||
0.63%, 07/09/24 |
619 | 572,160 | ||||||
0.95%, 01/22/27
(Call 01/22/26), |
445 | 383,928 | ||||||
1.25%, 09/15/26 |
510 | 433,872 | ||||||
1.50%, 01/10/25 |
475 | 436,140 | ||||||
1.85%, 05/01/25(a) |
457 | 419,636 | ||||||
2.15%, 03/08/24 |
570 | 546,106 | ||||||
2.50%, 06/28/24 |
550 | 525,239 | ||||||
2.65%, 03/08/27(a) |
390 | 345,599 | ||||||
3.70%, 06/07/25 |
520 | 498,129 | ||||||
Series E, 3.30%, 02/05/24 |
603 | 588,341 | ||||||
Series H, 4.25%, 09/14/24 |
50 | 48,955 | ||||||
Series H, 4.70%, 09/14/27 (Call 08/14/27) |
100 | 95,792 | ||||||
Bank of New York Mellon Corp. (The) |
||||||||
0.50%, 04/26/24 (Call 03/26/24) |
195 | 182,384 | ||||||
0.75%, 01/28/26 (Call 12/28/25) |
330 | 288,463 | ||||||
1.05%, 10/15/26 (Call 09/15/26) |
400 | 340,176 | ||||||
1.60%, 04/24/25 (Call 03/24/25) |
540 | 494,483 | ||||||
1.65%, 07/14/28 (Call 05/14/28)(a) |
160 | 130,112 | ||||||
1.65%, 01/28/31 (Call 10/28/30) |
235 | 176,102 | ||||||
1.80%, 07/28/31 (Call 04/28/31)(a) |
75 | 55,855 | ||||||
2.05%, 01/26/27 (Call 12/26/26) |
30 | 26,362 | ||||||
2.10%, 10/24/24 |
411 | 387,869 | ||||||
2.45%, 08/17/26 (Call 05/17/26) |
408 | 369,958 | ||||||
2.80%, 05/04/26 (Call 02/04/26) |
377 | 349,094 | ||||||
3.00%, 10/30/28 (Call 07/30/28) |
211 | 181,418 |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.25%, 09/11/24 (Call 08/11/24) |
$ | 326 | $ | 315,956 | ||||
3.25%, 05/16/27 (Call 02/16/27) |
198 | 182,978 | ||||||
3.30%, 08/23/29 (Call 05/23/29) |
330 | 285,582 | ||||||
3.35%, 04/25/25 (Call 03/25/25) |
290 | 278,870 | ||||||
3.40%, 05/15/24 (Call 04/15/24) |
386 | 376,331 | ||||||
3.40%, 01/29/28 (Call 10/29/27) |
163 | 148,235 | ||||||
3.43%, 06/13/25 (Call 06/13/24)(b) |
90 | 87,226 | ||||||
3.44%, 02/07/28
(Call 02/07/27), |
356 | 325,768 | ||||||
3.85%, 04/28/28 |
70 | 65,072 | ||||||
3.99%, 06/13/28 (Call 06/13/27)(b) |
245 | 228,205 | ||||||
4.29%, 06/13/33 (Call 06/13/32)(b) |
260 | 232,315 | ||||||
4.41%, 07/24/26 (Call 07/24/25)(b) |
45 | 43,688 | ||||||
4.60%, 07/26/30 (Call 07/26/29)(b) |
225 | 210,623 | ||||||
5.80%, 10/25/28(a) |
40 | 40,280 | ||||||
5.83%, 10/25/33 |
180 | 180,461 | ||||||
Series 12, 3.65%, 02/04/24 (Call 01/05/24) |
436 | 428,605 | ||||||
Series G, 3.00%, 02/24/25 (Call 01/24/25) |
348 | 332,138 | ||||||
Series J, 0.85%, 10/25/24 (Call 09/25/24) |
200 | 183,978 | ||||||
Bank of Nova Scotia (The) |
||||||||
0.65%, 07/31/24 |
530 | 487,770 | ||||||
0.70%, 04/15/24 |
570 | 532,226 | ||||||
1.05%, 03/02/26 |
155 | 134,360 | ||||||
1.30%, 06/11/25(a) |
445 | 399,668 | ||||||
1.30%, 09/15/26 |
330 | 281,335 | ||||||
1.35%, 06/24/26 |
155 | 134,030 | ||||||
1.45%, 01/10/25 |
550 | 503,921 | ||||||
1.95%, 02/02/27 |
70 | 60,477 | ||||||
2.15%, 08/01/31 |
165 | 122,722 | ||||||
2.20%, 02/03/25 |
521 | 485,015 | ||||||
2.44%, 03/11/24 |
310 | 298,418 | ||||||
2.45%, 02/02/32 |
445 | 334,213 | ||||||
2.70%, 08/03/26 |
299 | 269,578 | ||||||
2.95%, 03/11/27 |
235 | 210,490 | ||||||
3.40%, 02/11/24 |
181 | 176,853 | ||||||
3.45%, 04/11/25 |
580 | 551,998 | ||||||
Barclays Bank PLC, 3.75%, 05/15/24 |
280 | 273,017 | ||||||
BPCE SA |
||||||||
3.38%, 12/02/26 |
280 | 255,133 | ||||||
4.00%, 04/15/24(a) |
590 | 574,288 | ||||||
Canadian Imperial Bank of Commerce |
||||||||
0.95%, 10/23/25(a) |
320 | 280,582 | ||||||
1.00%, 10/18/24 |
560 | 514,136 | ||||||
1.25%, 06/22/26 |
295 | 252,367 | ||||||
2.25%, 01/28/25 |
508 | 473,649 | ||||||
3.10%, 04/02/24(a) |
520 | 504,057 | ||||||
3.30%, 04/07/25 |
265 | 251,890 | ||||||
3.45%, 04/07/27(a) |
245 | 223,477 | ||||||
3.60%, 04/07/32 (Call 03/07/32)(a) |
130 | 107,307 | ||||||
3.95%, 08/04/25 |
385 | 369,704 | ||||||
Citigroup Inc. |
||||||||
0.78%, 10/30/24
(Call 10/30/23), |
7 | 6,617 | ||||||
0.98%, 05/01/25
(Call 05/01/24), |
815 | 751,813 | ||||||
1.12%, 01/28/27
(Call 01/28/26), |
315 | 267,917 | ||||||
1.28%, 11/03/25
(Call 11/03/24), |
435 | 394,262 | ||||||
1.46%, 06/09/27
(Call 06/09/26), |
1,011 | 858,875 | ||||||
2.01%, 01/25/26
(Call 01/25/25), |
660 | 603,148 | ||||||
2.52%, 11/03/32
(Call 11/03/31), |
645 | 482,776 | ||||||
2.56%, 05/01/32
(Call 05/01/31), |
950 | 724,042 | ||||||
2.57%, 06/03/31
(Call 06/03/30), |
1,003 | 785,660 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
2.67%, 01/29/31 (Call 01/29/30), (SOFR + 1.146%)(b) |
$ | 901 | $ | 716,637 | ||||
2.90%, 11/03/42
(Call 11/03/41), |
255 | 161,237 | ||||||
2.98%, 11/05/30
(Call 11/05/29), |
838 | 683,808 | ||||||
3.06%, 01/25/33 (Call 01/25/32), (SOFR + 1.351%)(b) |
955 | 745,970 | ||||||
3.07%, 02/24/28 (Call 02/24/27), (SOFR + 1.280%)(b) |
900 | 794,565 | ||||||
3.11%, 04/08/26 (Call 04/08/25), (SOFR + 2.842%)(b) |
723 | 674,769 | ||||||
3.20%, 10/21/26 (Call 07/21/26) |
494 | 450,296 | ||||||
3.29%, 03/17/26 (Call 03/17/25), (SOFR + 1.528%)(b) |
605 | 567,066 | ||||||
3.30%, 04/27/25 |
544 | 516,376 | ||||||
3.35%, 04/24/25
(Call 04/24/24), |
943 | 905,525 | ||||||
3.40%, 05/01/26 |
635 | 589,578 | ||||||
3.52%, 10/27/28
(Call 10/27/27), |
811 | 717,962 | ||||||
3.67%, 07/24/28
(Call 07/24/27), |
884 | 792,515 | ||||||
3.70%, 01/12/26 |
660 | 620,512 | ||||||
3.75%, 06/16/24 |
606 | 592,832 | ||||||
3.79%, 03/17/33 (Call 03/17/32), (SOFR + 1.939%)(b) |
830 | 686,775 | ||||||
3.88%, 01/24/39
(Call 01/24/38), |
266 | 203,197 | ||||||
3.89%, 01/10/28
(Call 01/10/27), |
531 | 486,279 | ||||||
3.98%, 03/20/30
(Call 03/20/29), |
600 | 528,810 | ||||||
4.08%, 04/23/29
(Call 04/23/28), |
699 | 629,715 | ||||||
4.14%, 05/24/25 (Call 05/24/24), (SOFR + 1.372%)(a)(b) |
115 | 111,709 | ||||||
4.28%, 04/24/48
(Call 04/24/47), |
336 | 256,778 | ||||||
4.41%, 03/31/31 (Call 03/31/30), (SOFR + 3.914%)(b) |
824 | 734,044 | ||||||
4.65%, 07/30/45 |
289 | 230,307 | ||||||
4.65%, 07/23/48 (Call 06/23/48) |
703 | 565,409 | ||||||
4.66%, 05/24/28 (Call 05/24/27), (SOFR + 1.887%)(a)(b) |
255 | 240,253 | ||||||
4.91%, 05/24/33 (Call 05/24/32)(b) |
845 | 768,773 | ||||||
5.32%, 03/26/41 (Call 03/26/40), (SOFR + 4.548%)(b) |
400 | 355,756 | ||||||
5.61%, 09/29/26 (Call 09/29/25)(b) |
860 | 848,399 | ||||||
5.88%, 01/30/42 |
395 | 368,871 | ||||||
8.13%, 07/15/39 |
608 | 703,651 | ||||||
Comerica Bank, 2.50%, 07/23/24 |
260 | 247,541 | ||||||
Comerica Inc., 4.00%, 02/01/29 (Call 11/03/28) |
395 | 360,295 | ||||||
Cooperatieve Rabobank UA, 5.25%, 05/24/41 |
591 | 550,546 | ||||||
Cooperatieve Rabobank UA/NY |
||||||||
1.38%, 01/10/25 |
380 | 348,973 | ||||||
3.38%, 05/21/25 |
370 | 353,428 | ||||||
3.88%, 08/22/24 |
345 | 337,269 | ||||||
Credit Suisse AG/New York NY |
||||||||
0.50%, 02/02/24 |
235 | 214,576 | ||||||
1.25%, 08/07/26 |
485 | 387,229 | ||||||
2.95%, 04/09/25 |
675 | 604,051 | ||||||
3.63%, 09/09/24 |
615 | 571,741 | ||||||
3.70%, 02/21/25 |
445 | 407,157 | ||||||
4.75%, 08/09/24 |
295 | 280,082 | ||||||
5.00%, 07/09/27 |
500 | 449,740 | ||||||
Deutsche Bank AG/New York NY |
||||||||
0.90%, 05/28/24 |
400 | 367,152 | ||||||
1.69%, 03/19/26 |
750 | 645,450 | ||||||
4.16%, 05/13/25(a) |
265 | 252,908 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
Fifth Third Bank NA |
||||||||
2.25%, 02/01/27 (Call 01/01/27) |
$ | 155 | $ | 135,822 | ||||
3.95%, 07/28/25 (Call 06/28/25) |
405 | 391,291 | ||||||
Goldman Sachs Group Inc. (The) |
||||||||
0.86%, 02/12/26 (Call 02/12/25), (SOFR + 0.609%)(b) |
207 | 183,489 | ||||||
1.09%, 12/09/26 (Call 12/09/25), (SOFR + 0.789%)(a)(b) |
675 | 580,864 | ||||||
1.43%, 03/09/27 (Call 03/09/26), (SOFR + 0.798%)(b) |
400 | 342,296 | ||||||
1.54%, 09/10/27 (Call 09/10/26), (SOFR + 0.818%)(b) |
787 | 660,946 | ||||||
1.76%, 01/24/25 (Call 01/24/24), (SOFR + 0.730%)(b) |
810 | 765,280 | ||||||
1.95%, 10/21/27 (Call 10/21/26), (SOFR + 0.913%)(b) |
980 | 832,775 | ||||||
1.99%, 01/27/32 (Call 01/27/31), (SOFR + 1.090%)(b) |
515 | 375,821 | ||||||
2.38%, 07/21/32 (Call 07/21/31), (SOFR + 1.248%)(b) |
1,117 | 831,573 | ||||||
2.60%, 02/07/30 (Call 11/07/29)(a) |
681 | 541,558 | ||||||
2.62%, 04/22/32 (Call 04/22/31), (SOFR + 1.281%)(b) |
1,020 | 779,280 | ||||||
2.64%, 02/24/28 (Call 02/24/27), (SOFR + 1.114%)(b) |
680 | 587,996 | ||||||
2.65%, 10/21/32 (Call 10/21/31), (SOFR + 1.264%)(b) |
630 | 475,984 | ||||||
2.91%, 07/21/42 (Call 07/21/41), (SOFR + 1.472%)(b) |
442 | 275,706 | ||||||
3.00%, 03/15/24 |
300 | 290,097 | ||||||
3.10%, 02/24/33 (Call 02/24/32), (SOFR + 1.410%)(b) |
985 | 772,171 | ||||||
3.21%, 04/22/42 (Call 04/22/41), (SOFR + 1.513%)(b) |
617 | 409,972 | ||||||
3.27%, 09/29/25
(Call 09/29/24), |
707 | 670,151 | ||||||
3.44%, 02/24/43 (Call 02/24/42), (SOFR + 1.632%)(b) |
565 | 385,437 | ||||||
3.50%, 01/23/25 (Call 10/23/24) |
684 | 654,697 | ||||||
3.50%, 04/01/25 (Call 03/01/25) |
763 | 722,767 | ||||||
3.50%, 11/16/26 (Call 11/16/25) |
721 | 662,585 | ||||||
3.62%, 03/15/28 (Call 03/15/27), (SOFR + 1.846%)(b) |
855 | 770,569 | ||||||
3.63%, 02/20/24 (Call 01/20/24) |
151 | 147,637 | ||||||
3.69%, 06/05/28
(Call 06/05/27), |
885 | 795,349 | ||||||
3.75%, 05/22/25 (Call 02/22/25) |
574 | 546,769 | ||||||
3.75%, 02/25/26 (Call 11/25/25) |
585 | 549,666 | ||||||
3.80%, 03/15/30 (Call 12/15/29) |
868 | 748,780 | ||||||
3.81%, 04/23/29
(Call 04/23/28), |
623 | 552,769 | ||||||
3.85%, 07/08/24 (Call 04/08/24) |
847 | 827,866 | ||||||
3.85%, 01/26/27 (Call 01/26/26) |
797 | 739,616 | ||||||
4.00%, 03/03/24 |
603 | 592,025 | ||||||
4.02%, 10/31/38
(Call 10/31/37), |
653 | 507,714 | ||||||
4.22%, 05/01/29
(Call 05/01/28), |
742 | 671,436 | ||||||
4.39%, 06/15/27 (Call 06/15/26)(b) |
35 | 32,899 | ||||||
4.41%, 04/23/39
(Call 04/23/38), |
420 | 340,817 | ||||||
4.48%, 08/23/28 (Call 08/23/27)(b) |
730 | 678,433 | ||||||
4.75%, 10/21/45 (Call 04/21/45) |
360 | 291,712 | ||||||
4.80%, 07/08/44 (Call 01/08/44) |
463 | 378,868 | ||||||
6.13%, 02/15/33(a) |
373 | 372,978 | ||||||
6.25%, 02/01/41 |
749 | 734,185 | ||||||
HSBC Bank USA NA, 7.00%, 01/15/39 |
235 | 235,743 | ||||||
HSBC Holdings PLC |
||||||||
0.98%, 05/24/25 (Call 05/24/24), (SOFR + 0.708%)(b) |
825 | 750,230 | ||||||
1.16%, 11/22/24 (Call 11/22/23), (SOFR + 0.580%)(b) |
390 | 365,957 | ||||||
1.59%, 05/24/27 (Call 05/24/26), (SOFR + 1.290%)(b) |
810 | 665,893 | ||||||
1.65%, 04/18/26 (Call 04/18/25), (SOFR + 1.538%)(b) |
883 | 771,548 | ||||||
2.01%, 09/22/28 (Call 09/22/27), (SOFR + 1.732%)(a)(b) |
490 | 385,184 | ||||||
2.10%, 06/04/26 (Call 06/04/25), (SOFR + 1.929%)(b) |
830 | 729,935 | ||||||
2.21%, 08/17/29 (Call 08/17/28), (SOFR + 1.285%)(b) |
405 | 306,966 | ||||||
2.25%, 11/22/27 (Call 11/22/26), (SOFR + 1.100%)(b) |
940 | 773,423 |
46 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
2.36%, 08/18/31
(Call 08/18/30), |
$ | 565 | $ | 401,512 | ||||
2.63%, 11/07/25
(Call 11/07/24), |
635 | 580,352 | ||||||
2.80%, 05/24/32
(Call 05/24/31), |
675 | 484,063 | ||||||
2.85%, 06/04/31
(Call 06/04/30), |
445 | 331,854 | ||||||
2.87%, 11/22/32
(Call 11/22/31), |
630 | 448,522 | ||||||
3.00%, 03/10/26
(Call 03/10/25), |
410 | 372,403 | ||||||
3.80%, 03/11/25
(Call 03/11/24), |
240 | 229,164 | ||||||
3.90%, 05/25/26 |
815 | 744,323 | ||||||
3.97%, 05/22/30
(Call 05/22/29), |
1,138 | 939,647 | ||||||
4.04%, 03/13/28
(Call 03/13/27), |
798 | 699,192 | ||||||
4.18%, 12/09/25 (Call 12/09/24)(b) |
630 | 594,871 | ||||||
4.29%, 09/12/26
(Call 09/12/25), |
690 | 636,490 | ||||||
4.30%, 03/08/26(a) |
737 | 693,922 | ||||||
4.58%, 06/19/29
(Call 06/19/28), |
733 | 638,106 | ||||||
4.76%, 06/09/28 (Call 06/09/27)(b) |
825 | 742,929 | ||||||
4.95%, 03/31/30 |
863 | 773,343 | ||||||
5.21%, 08/11/28 (Call 08/11/27)(b) |
500 | 458,500 | ||||||
5.40%, 08/11/33 (Call 08/11/32)(b) |
806 | 699,560 | ||||||
6.10%, 01/14/42(a) |
300 | 277,287 | ||||||
7.34%, 11/03/26 (Call 11/03/25) |
800 | 800,000 | ||||||
7.39%, 11/03/28 (Call 11/03/27) |
565 | 565,000 | ||||||
HSBC USA Inc. |
||||||||
3.50%, 06/23/24 |
295 | 284,312 | ||||||
3.75%, 05/24/24 |
360 | 349,661 | ||||||
Huntington National Bank (The) |
||||||||
4.01%, 05/16/25 (Call 05/16/24)(b) |
285 | 277,724 | ||||||
4.55%, 05/17/28 (Call 05/17/27)(a)(b) |
310 | 295,821 | ||||||
ING Groep NV |
||||||||
1.73%, 04/01/27
(Call 04/01/26), |
215 | 182,922 | ||||||
2.73%, 04/01/32
(Call 04/01/31), |
283 | 211,732 | ||||||
3.55%, 04/09/24 |
335 | 325,265 | ||||||
3.87%, 03/28/26
(Call 03/28/25), |
340 | 319,396 | ||||||
3.95%, 03/29/27 |
395 | 358,992 | ||||||
4.02%, 03/28/28
(Call 03/28/27), |
430 | 386,514 | ||||||
4.05%, 04/09/29 |
340 | 296,670 | ||||||
4.25%, 03/28/33
(Call 03/28/32), |
320 | 266,051 | ||||||
4.55%, 10/02/28(a) |
430 | 387,525 | ||||||
JPMorgan Chase & Co. |
||||||||
0.56%, 02/16/25
(Call 02/16/24), |
155 | 144,276 | ||||||
0.77%, 08/09/25
(Call 08/09/24), |
90 | 81,960 | ||||||
0.82%, 06/01/25
(Call 06/01/24), |
125 | 115,146 | ||||||
0.97%, 06/23/25
(Call 06/23/24), |
425 | 390,847 | ||||||
1.04%, 02/04/27
(Call 02/04/26), |
60 | 51,042 | ||||||
1.05%, 11/19/26
(Call 11/19/25), |
355 | 305,847 | ||||||
1.47%, 09/22/27
(Call 09/22/26), |
645 | 542,103 | ||||||
1.56%, 12/10/25
(Call 12/10/24), |
405 | 369,550 | ||||||
1.58%, 04/22/27
(Call 04/22/26), |
625 | 536,981 | ||||||
1.76%, 11/19/31
(Call 11/19/30), |
390 | 283,756 | ||||||
1.95%, 02/04/32
(Call 02/04/31), |
444 | 325,656 | ||||||
2.01%, 03/13/26
(Call 03/13/25), |
300 | 273,597 | ||||||
2.07%, 06/01/29
(Call 06/01/28), |
260 | 210,324 | ||||||
2.08%, 04/22/26
(Call 04/22/25), |
630 | 573,672 | ||||||
2.18%, 06/01/28
(Call 06/01/27), |
301 | 254,694 | ||||||
2.30%, 10/15/25
(Call 10/15/24), |
435 | 405,624 | ||||||
2.52%, 04/22/31
(Call 04/22/30), |
485 | 382,549 |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
2.53%, 11/19/41
(Call 11/19/40), |
$ | 350 | $ | 215,744 | ||||
2.55%, 11/08/32
(Call 11/08/31), |
575 | 434,516 | ||||||
2.58%, 04/22/32
(Call 04/22/31), |
675 | 519,156 | ||||||
2.60%, 02/24/26
(Call 02/24/25), |
350 | 324,338 | ||||||
2.74%, 10/15/30
(Call 10/15/29), |
720 | 582,970 | ||||||
2.95%, 10/01/26 (Call 07/01/26) |
377 | 344,450 | ||||||
2.95%, 02/24/28
(Call 02/24/27), |
410 | 361,001 | ||||||
2.96%, 05/13/31
(Call 05/13/30), |
411 | 323,736 | ||||||
2.96%, 01/25/33
(Call 01/25/32), |
590 | 460,395 | ||||||
3.11%, 04/22/41
(Call 04/22/40), |
295 | 201,877 | ||||||
3.11%, 04/22/51
(Call 04/22/50), |
260 | 162,367 | ||||||
3.13%, 01/23/25 (Call 10/23/24) |
510 | 487,993 | ||||||
3.16%, 04/22/42
(Call 04/22/41), |
120 | 81,958 | ||||||
3.20%, 06/15/26 (Call 03/15/26) |
260 | 240,913 | ||||||
3.22%, 03/01/25
(Call 03/01/24), |
495 | 478,071 | ||||||
3.30%, 04/01/26 (Call 01/01/26) |
408 | 381,039 | ||||||
3.33%, 04/22/52
(Call 04/22/51), |
655 | 423,890 | ||||||
3.51%, 01/23/29
(Call 01/23/28), |
320 | 282,982 | ||||||
3.54%, 05/01/28
(Call 05/01/27), |
518 | 465,920 | ||||||
3.63%, 05/13/24 |
105 | 102,914 | ||||||
3.63%, 12/01/27 (Call 12/01/26) |
262 | 237,113 | ||||||
3.70%, 05/06/30
(Call 05/06/29), |
506 | 440,589 | ||||||
3.78%, 02/01/28
(Call 02/01/27), |
474 | 431,951 | ||||||
3.85%, 06/14/25 (Call 06/14/24)(b) |
450 | 437,562 | ||||||
3.88%, 02/01/24 |
389 | 384,176 | ||||||
3.88%, 09/10/24 |
555 | 540,670 | ||||||
3.88%, 07/24/38
(Call 07/24/37), |
371 | 288,601 | ||||||
3.90%, 07/15/25 (Call 04/15/25) |
587 | 567,265 | ||||||
3.90%, 01/23/49
(Call 01/23/48), |
280 | 203,871 | ||||||
3.96%, 01/29/27
(Call 01/29/26), |
65 | 60,913 | ||||||
3.96%, 11/15/48
(Call 11/15/47), |
630 | 462,061 | ||||||
4.01%, 04/23/29
(Call 04/23/28), |
420 | 377,987 | ||||||
4.02%, 12/05/24
(Call 12/05/23), |
440 | 432,084 | ||||||
4.03%, 07/24/48
(Call 07/24/47), |
308 | 229,007 | ||||||
4.08%, 04/26/26
(Call 04/26/25), |
355 | 340,335 | ||||||
4.13%, 12/15/26 |
510 | 483,444 | ||||||
4.20%, 07/23/29
(Call 07/23/28), |
345 | 312,467 | ||||||
4.25%, 10/01/27 |
315 | 295,826 | ||||||
4.26%, 02/22/48
(Call 02/22/47), |
328 | 254,387 | ||||||
4.32%, 04/26/28
(Call 04/26/27), |
605 | 563,176 | ||||||
4.45%, 12/05/29
(Call 12/05/28), |
405 | 369,072 | ||||||
4.49%, 03/24/31
(Call 03/24/30), |
600 | 543,126 | ||||||
4.57%, 06/14/30 (Call 06/14/29)(b) |
300 | 275,256 | ||||||
4.59%, 04/26/33
(Call 04/26/32), |
130 | 115,982 | ||||||
4.85%, 07/25/28 (Call 07/25/27)(a)(b) |
475 | 451,639 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
4.85%, 02/01/44 |
$ | 68 | $ | 58,292 | ||||
4.91%, 07/25/33 (Call 07/25/32)(b) |
750 | 686,475 | ||||||
4.95%, 06/01/45 |
305 | 251,915 | ||||||
5.40%, 01/06/42 |
279 | 254,646 | ||||||
5.50%, 10/15/40 |
95 | 88,131 | ||||||
5.60%, 07/15/41 |
323 | 302,964 | ||||||
5.63%, 08/16/43 |
240 | 215,743 | ||||||
5.72%, 09/14/33 (Call 09/14/32)(b) |
250 | 232,255 | ||||||
6.40%, 05/15/38 |
367 | 378,076 | ||||||
7.63%, 10/15/26 |
155 | 167,031 | ||||||
8.00%, 04/29/27 |
184 | 201,912 | ||||||
KeyBank NA/Cleveland OH |
||||||||
3.30%, 06/01/25 |
317 | 301,400 | ||||||
4.15%, 08/08/25 |
435 | 420,454 | ||||||
Lloyds Banking Group PLC |
||||||||
1.63%, 05/11/27 (Call 05/11/26)(b) |
395 | 331,125 | ||||||
2.44%, 02/05/26 (Call 02/05/25)(b) |
365 | 331,661 | ||||||
3.51%, 03/18/26 (Call 03/18/25)(b) |
490 | 453,911 | ||||||
3.57%, 11/07/28
(Call 11/07/27), |
660 | 564,181 | ||||||
3.75%, 01/11/27 |
475 | 425,576 | ||||||
3.75%, 03/18/28 (Call 03/18/27)(b) |
320 | 282,512 | ||||||
3.87%, 07/09/25 (Call 07/09/24)(b) |
349 | 332,538 | ||||||
3.90%, 03/12/24 |
445 | 433,403 | ||||||
4.38%, 03/22/28 |
280 | 249,586 | ||||||
4.45%, 05/08/25 |
515 | 493,813 | ||||||
4.55%, 08/16/28 |
485 | 434,584 | ||||||
4.72%, 08/11/26 (Call 08/11/25)(b) |
405 | 382,842 | ||||||
4.98%, 08/11/33 (Call 08/11/32)(b) |
325 | 278,187 | ||||||
M&T Bank Corp., 4.55%, 08/16/28 (Call 08/16/27)(b) |
240 | 226,049 | ||||||
Manufacturers & Traders Trust Co. |
||||||||
2.90%, 02/06/25 (Call 01/06/25) |
5 | 4,744 | ||||||
3.40%, 08/17/27 |
270 | 239,868 | ||||||
Mitsubishi UFJ Financial Group Inc. |
||||||||
0.95%, 07/19/25 (Call 07/19/24)(b) |
700 | 642,474 | ||||||
0.96%, 10/11/25 (Call 10/11/24)(b) |
355 | 322,784 | ||||||
1.41%, 07/17/25 |
665 | 593,639 | ||||||
1.54%, 07/20/27 (Call 07/20/26)(b) |
715 | 604,347 | ||||||
1.64%, 10/13/27 (Call 10/13/26)(b) |
535 | 450,684 | ||||||
2.05%, 07/17/30(a) |
320 | 239,741 | ||||||
2.19%, 02/25/25 |
930 | 858,092 | ||||||
2.31%, 07/20/32 (Call 07/20/31)(b) |
605 | 441,354 | ||||||
2.34%, 01/19/28 (Call 01/19/27)(b) |
370 | 316,332 | ||||||
2.49%, 10/13/32 (Call 10/13/31)(b) |
305 | 224,840 | ||||||
2.56%, 02/25/30 |
389 | 306,353 | ||||||
2.76%, 09/13/26 |
255 | 227,419 | ||||||
2.80%, 07/18/24(a) |
495 | 471,567 | ||||||
2.85%, 01/19/33 (Call 01/19/32)(b) |
285 | 214,200 | ||||||
3.20%, 07/18/29 |
640 | 536,026 | ||||||
3.29%, 07/25/27 |
472 | 422,317 | ||||||
3.41%, 03/07/24 |
803 | 780,893 | ||||||
3.68%, 02/22/27 |
392 | 359,868 | ||||||
3.74%, 03/07/29 |
555 | 488,489 | ||||||
3.75%, 07/18/39 |
225 | 167,423 | ||||||
3.78%, 03/02/25 |
194 | 186,197 | ||||||
3.84%, 04/17/26 (Call 04/17/25)(b) |
280 | 266,154 | ||||||
3.85%, 03/01/26 |
515 | 483,930 | ||||||
3.96%, 03/02/28 |
557 | 508,825 | ||||||
4.05%, 09/11/28 |
386 | 349,677 | ||||||
4.08%, 04/19/28 (Call 04/19/27)(b) |
300 | 275,499 |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
4.15%, 03/07/39 |
$ | 2 | $ | 1,578 | ||||
4.29%, 07/26/38 |
50 | 40,476 | ||||||
4.32%, 04/19/33 (Call 04/19/32)(b) |
215 | 184,687 | ||||||
4.79%, 07/18/25 (Call 07/18/24)(b) |
475 | 466,065 | ||||||
5.02%, 07/20/28 (Call 07/20/27)(b) |
515 | 489,873 | ||||||
5.06%, 09/12/25 (Call 09/12/24)(b) |
480 | 472,882 | ||||||
5.13%, 07/20/33 (Call 07/20/32)(b) |
490 | 444,837 | ||||||
5.35%, 09/13/28 (Call 09/13/27)(b) |
480 | 462,782 | ||||||
5.47%, 09/13/33 (Call 09/13/32)(b) |
240 | 224,179 | ||||||
Mizuho Financial Group Inc. |
||||||||
1.23%, 05/22/27 (Call 05/22/26)(b) |
270 | 226,954 | ||||||
1.55%, 07/09/27 (Call 07/09/26)(b) |
395 | 334,458 | ||||||
1.98%, 09/08/31
(Call 09/08/30), |
300 | 216,309 | ||||||
2.17%, 05/22/32 (Call 05/22/31)(b) |
225 | 160,418 | ||||||
2.20%, 07/10/31
(Call 07/10/30), |
465 | 342,761 | ||||||
2.23%, 05/25/26
(Call 05/25/25), |
240 | 217,061 | ||||||
2.26%, 07/09/32 (Call 07/09/31)(a)(b) |
210 | 150,734 | ||||||
2.56%, 09/13/25
(Call 09/13/24), |
220 | 205,962 | ||||||
2.59%, 05/25/31
(Call 05/25/30), |
115 | 87,642 | ||||||
2.65%, 05/22/26 (Call 05/22/25)(b) |
160 | 146,501 | ||||||
2.84%, 07/16/25
(Call 07/16/24), |
205 | 194,010 | ||||||
2.84%, 09/13/26(a) |
220 | 195,356 | ||||||
2.87%, 09/13/30
(Call 09/13/29), |
215 | 171,463 | ||||||
3.15%, 07/16/30
(Call 07/16/29), |
235 | 191,668 | ||||||
3.17%, 09/11/27 |
396 | 346,516 | ||||||
3.26%, 05/22/30 (Call 05/22/29)(b) |
215 | 178,349 | ||||||
3.66%, 02/28/27 |
222 | 201,092 | ||||||
4.02%, 03/05/28(a) |
430 | 387,082 | ||||||
4.25%, 09/11/29
(Call 09/11/28), |
305 | 271,066 | ||||||
5.41%, 09/13/28 (Call 09/13/27)(a)(b) |
225 | 217,314 | ||||||
5.67%, 09/13/33 (Call 09/13/32)(b) |
200 | 187,180 | ||||||
Morgan Stanley |
||||||||
0.79%, 01/22/25
(Call 01/22/24), |
772 | 720,755 | ||||||
0.79%, 05/30/25
(Call 05/30/24), |
620 | 567,815 | ||||||
0.99%, 12/10/26
(Call 12/10/25), |
887 | 759,893 | ||||||
1.16%, 10/21/25
(Call 10/21/24), |
690 | 624,843 | ||||||
1.51%, 07/20/27
(Call 07/20/26), |
952 | 807,325 | ||||||
1.59%, 05/04/27
(Call 05/04/26), |
637 | 545,571 | ||||||
1.79%, 02/13/32
(Call 02/13/31), |
580 | 419,410 | ||||||
1.93%, 04/28/32
(Call 04/28/31), |
758 | 549,376 | ||||||
2.19%, 04/28/26
(Call 04/28/25), |
535 | 488,182 | ||||||
2.24%, 07/21/32
(Call 07/21/31), |
874 | 648,473 | ||||||
2.48%, 01/21/28
(Call 01/21/27), |
750 | 648,795 | ||||||
2.51%, 10/20/32
(Call 10/20/31), |
670 | 505,012 | ||||||
2.63%, 02/18/26
(Call 02/18/25), |
775 | 718,037 | ||||||
2.70%, 01/22/31
(Call 01/22/30), |
881 | 705,866 | ||||||
2.72%, 07/22/25
(Call 07/22/24), |
743 | 701,184 | ||||||
2.80%, 01/25/52
(Call 01/25/51), |
670 | 393,129 | ||||||
2.94%, 01/21/33
(Call 01/21/32), |
710 | 552,337 | ||||||
3.13%, 07/27/26 |
438 | 399,684 | ||||||
3.22%, 04/22/42
(Call 04/22/41), |
617 | 420,263 | ||||||
3.59%, 07/22/28
(Call 07/22/27), |
530 | 475,267 | ||||||
3.62%, 04/17/25
(Call 04/17/24), |
770 | 743,797 | ||||||
3.62%, 04/01/31
(Call 04/01/30), |
775 | 660,796 | ||||||
3.63%, 01/20/27 |
953 | 879,114 |
48 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.70%, 10/23/24 |
$ | 418 | $ | 405,293 | ||||
3.77%, 01/24/29
(Call 01/24/28), |
967 | 862,670 | ||||||
3.88%, 01/27/26 |
1,006 | 952,742 | ||||||
3.97%, 07/22/38
(Call 07/22/37), |
469 | 369,112 | ||||||
4.00%, 07/23/25 |
412 | 396,772 | ||||||
4.21%, 04/20/28 (Call 04/20/27), (SOFR + 1.610%)(b) |
320 | 296,192 | ||||||
4.30%, 01/27/45 |
615 | 475,100 | ||||||
4.38%, 01/22/47(a) |
635 | 493,947 | ||||||
4.43%, 01/23/30
(Call 01/23/29), |
682 | 621,868 | ||||||
4.46%, 04/22/39
(Call 04/22/38), |
315 | 258,332 | ||||||
4.68%, 07/17/26 (Call 07/17/25)(b) |
285 | 276,632 | ||||||
4.89%, 07/20/33 (Call 07/20/32)(b) |
515 | 470,102 | ||||||
5.60%, 03/24/51
(Call 03/24/50), |
466 | 431,842 | ||||||
6.25%, 08/09/26 |
225 | 229,154 | ||||||
6.34%, 10/18/33 |
270 | 273,969 | ||||||
6.38%, 07/24/42 |
442 | 447,759 | ||||||
7.25%, 04/01/32 |
466 | 504,883 | ||||||
Series F, 3.88%, 04/29/24 |
641 | 628,045 | ||||||
Series I,
0.86%, 10/21/25 (Call 10/21/24), |
390 | 351,936 | ||||||
National Australia Bank Ltd., 3.91%, 06/09/27 |
75 | 70,803 | ||||||
National Australia Bank Ltd./New York |
||||||||
2.50%, 07/12/26 |
255 | 231,693 | ||||||
3.38%, 01/14/26 |
305 | 288,045 | ||||||
3.50%, 06/09/25 |
370 | 355,581 | ||||||
National Bank of Canada |
||||||||
0.55%, 11/15/24 (Call 11/15/23)(b) |
380 | 360,137 | ||||||
0.75%, 08/06/24 |
440 | 404,329 | ||||||
3.75%, 06/09/25 (Call 06/09/24)(b) |
365 | 351,261 | ||||||
NatWest Group PLC |
||||||||
1.64%, 06/14/27 (Call 06/14/26)(b) |
500 | 415,645 | ||||||
3.07%, 05/22/28 (Call 05/22/27)(b) |
50 | 42,402 | ||||||
4.45%, 05/08/30
(Call 05/08/29), |
500 | 426,815 | ||||||
4.80%, 04/05/26 |
200 | 188,716 | ||||||
4.89%, 05/18/29
(Call 05/18/28), |
510 | 454,767 | ||||||
5.08%, 01/27/30
(Call 01/27/29), |
500 | 445,660 | ||||||
5.52%, 09/30/28 (Call 09/30/27)(b) |
500 | 466,600 | ||||||
Northern Trust Corp. |
||||||||
1.95%, 05/01/30 (Call 02/01/30) |
255 | 199,298 | ||||||
3.15%, 05/03/29 (Call 02/03/29) |
210 | 184,850 | ||||||
3.65%, 08/03/28 (Call 05/03/28)(a) |
220 | 203,104 | ||||||
3.95%, 10/30/25 |
525 | 507,512 | ||||||
4.00%, 05/10/27 (Call 04/10/27)(a) |
305 | 291,577 | ||||||
6.13%, 11/02/32 |
195 | 195,392 | ||||||
PNC Bank NA |
||||||||
2.70%, 10/22/29 |
255 | 207,126 | ||||||
2.95%, 02/23/25 (Call 01/24/25) |
270 | 256,946 | ||||||
3.10%, 10/25/27 (Call 09/25/27) |
280 | 252,664 | ||||||
3.25%, 06/01/25 (Call 05/02/25) |
315 | 299,474 | ||||||
3.25%, 01/22/28 (Call 12/23/27) |
160 | 144,846 | ||||||
3.30%, 10/30/24 (Call 09/30/24) |
50 | 48,079 | ||||||
3.88%, 04/10/25 (Call 03/10/25) |
295 | 283,808 | ||||||
4.05%, 07/26/28 |
450 | 408,834 |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
4.20%, 11/01/25 (Call 10/02/25) |
$ | 135 | $ | 130,252 | ||||
2.50%, 08/27/24 (Call 07/27/24) |
315 | 300,186 | ||||||
PNC Financial Services Group Inc. (The) |
||||||||
1.15%, 08/13/26 (Call 07/13/26) |
260 | 223,228 | ||||||
2.20%, 11/01/24 (Call 10/02/24) |
181 | 170,654 | ||||||
2.31%, 04/23/32
(Call 04/23/31), |
333 | 255,787 | ||||||
2.55%, 01/22/30 (Call 10/24/29) |
790 | 641,243 | ||||||
2.60%, 07/23/26 (Call 05/23/26) |
525 | 474,259 | ||||||
3.15%, 05/19/27 (Call 04/19/27)(a) |
50 | 45,079 | ||||||
3.45%, 04/23/29 (Call 01/23/29)(a) |
501 | 440,003 | ||||||
3.90%, 04/29/24 (Call 03/29/24) |
352 | 344,471 | ||||||
4.63%, 06/06/33 (Call 06/06/32)(a)(b) |
295 | 260,358 | ||||||
6.04%, 10/28/33 |
400 | 402,448 | ||||||
Royal Bank of Canada |
||||||||
0.65%, 07/29/24 |
432 | 398,758 | ||||||
0.75%, 10/07/24 |
475 | 434,729 | ||||||
0.88%, 01/20/26 |
530 | 458,291 | ||||||
1.15%, 06/10/25 |
617 | 554,035 | ||||||
1.15%, 07/14/26 |
405 | 345,915 | ||||||
1.20%, 04/27/26 |
565 | 487,668 | ||||||
1.40%, 11/02/26 |
430 | 366,231 | ||||||
1.60%, 01/21/25 |
280 | 258,146 | ||||||
2.05%, 01/21/27 |
250 | 218,273 | ||||||
2.25%, 11/01/24 |
658 | 618,908 | ||||||
2.30%, 11/03/31 |
105 | 79,799 | ||||||
2.55%, 07/16/24(a) |
445 | 424,557 | ||||||
3.38%, 04/14/25 |
175 | 167,136 | ||||||
3.63%, 05/04/27 |
500 | 460,570 | ||||||
3.88%, 05/04/32 |
350 | 301,749 | ||||||
3.97%, 07/26/24 |
665 | 649,818 | ||||||
4.24%, 08/03/27 |
515 | 484,028 | ||||||
4.65%, 01/27/26 |
138 | 133,251 | ||||||
5.66%, 10/25/24 |
200 | 200,540 | ||||||
6.00%, 11/01/27 |
200 | 201,254 | ||||||
Santander UK PLC, 4.00%, 03/13/24(a) |
500 | 489,745 | ||||||
State Street Corp. |
||||||||
1.68%, 11/18/27
(Call 11/18/26), |
120 | 103,811 | ||||||
2.20%, 02/07/28
(Call 02/07/27), |
160 | 138,806 | ||||||
2.20%, 03/03/31 |
542 | 417,064 | ||||||
2.35%, 11/01/25
(Call 11/01/24), |
213 | 200,107 | ||||||
2.40%, 01/24/30 |
85 | 69,394 | ||||||
2.62%, 02/07/33
(Call 02/07/32), |
240 | 186,984 | ||||||
2.65%, 05/19/26 |
15 | 13,894 | ||||||
3.03%, 11/01/34
(Call 11/01/29), |
175 | 142,342 | ||||||
3.30%, 12/16/24 |
438 | 422,035 | ||||||
3.55%, 08/18/25 |
69 | 66,337 | ||||||
3.78%, 12/03/24
(Call 12/03/23), |
255 | 250,831 | ||||||
4.14%, 12/03/29
(Call 12/03/28), |
170 | 155,865 | ||||||
4.16%, 08/04/33 (Call 08/04/32)(b) |
310 | 274,694 | ||||||
4.42%, 05/13/33 (Call 05/13/32)(b) |
165 | 150,336 | ||||||
Sumitomo Mitsui Banking Corp. |
||||||||
3.40%, 07/11/24(a) |
200 | 194,040 | ||||||
3.65%, 07/23/25(a) |
55 | 52,281 | ||||||
Sumitomo Mitsui Financial Group Inc. |
||||||||
0.95%, 01/12/26 |
260 | 223,980 | ||||||
1.40%, 09/17/26 |
825 | 698,313 | ||||||
1.47%, 07/08/25 |
730 | 651,802 | ||||||
1.71%, 01/12/31 |
380 | 270,917 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
1.90%, 09/17/28 |
$ | 625 | $ | 496,469 | ||||
2.13%, 07/08/30 |
550 | 412,824 | ||||||
2.17%, 01/14/27 |
100 | 86,335 | ||||||
2.22%, 09/17/31(a) |
340 | 249,101 | ||||||
2.30%, 01/12/41 |
100 | 58,129 | ||||||
2.35%, 01/15/25 |
590 | 549,485 | ||||||
2.45%, 09/27/24 |
267 | 251,429 | ||||||
2.47%, 01/14/29 |
260 | 210,766 | ||||||
2.63%, 07/14/26 |
844 | 756,925 | ||||||
2.70%, 07/16/24 |
480 | 457,022 | ||||||
2.72%, 09/27/29 |
200 | 160,986 | ||||||
2.75%, 01/15/30 |
460 | 367,701 | ||||||
3.01%, 10/19/26 |
645 | 583,041 | ||||||
3.04%, 07/16/29 |
509 | 420,480 | ||||||
3.05%, 01/14/42(a) |
90 | 58,388 | ||||||
3.35%, 10/18/27 |
375 | 333,866 | ||||||
3.36%, 07/12/27 |
714 | 641,129 | ||||||
3.45%, 01/11/27(a) |
537 | 488,305 | ||||||
3.54%, 01/17/28 |
245 | 219,527 | ||||||
3.78%, 03/09/26(a) |
84 | 79,112 | ||||||
3.94%, 07/19/28 |
236 | 212,442 | ||||||
4.31%, 10/16/28 |
205 | 187,940 | ||||||
Toronto-Dominion Bank (The) |
||||||||
0.55%, 03/04/24 |
135 | 126,579 | ||||||
0.70%, 09/10/24 |
485 | 444,740 | ||||||
0.75%, 09/11/25(a) |
487 | 427,230 | ||||||
0.75%, 01/06/26 |
562 | 485,197 | ||||||
1.15%, 06/12/25 |
145 | 129,906 | ||||||
1.20%, 06/03/26 |
478 | 411,677 | ||||||
1.25%, 12/13/24 |
165 | 151,488 | ||||||
1.25%, 09/10/26 |
350 | 298,522 | ||||||
1.45%, 01/10/25 |
545 | 501,580 | ||||||
1.95%, 01/12/27 |
385 | 333,626 | ||||||
2.00%, 09/10/31 |
315 | 233,138 | ||||||
2.35%, 03/08/24 |
500 | 480,715 | ||||||
2.45%, 01/12/32 |
205 | 155,878 | ||||||
2.65%, 06/12/24 |
185 | 177,398 | ||||||
2.80%, 03/10/27 |
230 | 205,116 | ||||||
3.20%, 03/10/32 |
495 | 402,965 | ||||||
3.25%, 03/11/24 |
686 | 667,567 | ||||||
3.63%, 09/15/31 (Call 09/15/26)(b) |
477 | 427,540 | ||||||
3.77%, 06/06/25 |
530 | 508,975 | ||||||
4.11%, 06/08/27 |
410 | 384,170 | ||||||
4.29%, 09/13/24 |
600 | 587,916 | ||||||
4.46%, 06/08/32 |
650 | 584,083 | ||||||
4.69%, 09/15/27 |
500 | 479,075 | ||||||
Truist Bank |
||||||||
1.50%, 03/10/25 (Call 02/10/25) |
610 | 557,595 | ||||||
2.15%, 12/06/24 (Call 11/05/24) |
150 | 140,414 | ||||||
2.25%, 03/11/30 (Call 12/11/29) |
367 | 285,383 | ||||||
2.64%, 09/17/29 (Call 09/17/24)(b) |
322 | 298,130 | ||||||
3.20%, 04/01/24 (Call 03/01/24) |
673 | 653,409 | ||||||
3.30%, 05/15/26 (Call 04/15/26) |
245 | 225,020 | ||||||
3.63%, 09/16/25 (Call 08/16/25) |
440 | 416,429 | ||||||
3.80%, 10/30/26 (Call 09/30/26) |
312 | 290,257 | ||||||
4.05%, 11/03/25 (Call 09/03/25) |
239 | 230,317 | ||||||
Truist Financial Corp. |
||||||||
1.13%, 08/03/27 (Call 06/03/27)(a) |
140 | 113,617 | ||||||
1.20%, 08/05/25 (Call 07/03/25)(a) |
245 | 218,675 | ||||||
1.27%, 03/02/27
(Call 03/02/26), |
487 | 420,505 |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
1.89%, 06/07/29
(Call 06/07/28), |
$ | 370 | $ | 297,954 | ||||
1.95%, 06/05/30 (Call 03/05/30) |
263 | 202,810 | ||||||
2.50%, 08/01/24 (Call 07/01/24) |
460 | 438,642 | ||||||
2.85%, 10/26/24 (Call 09/26/24) |
650 | 620,139 | ||||||
3.70%, 06/05/25 (Call 05/05/25)(a) |
370 | 355,011 | ||||||
3.88%, 03/19/29 (Call 02/16/29) |
93 | 82,817 | ||||||
4.00%, 05/01/25 (Call 03/01/25) |
297 | 287,745 | ||||||
4.12%, 06/06/28 (Call 06/06/27)(a)(b) |
345 | 318,942 | ||||||
4.26%, 07/28/26 (Call 07/28/25)(b) |
210 | 202,448 | ||||||
4.92%, 07/28/33 (Call 07/28/32)(b) |
435 | 390,513 | ||||||
5.90%, 10/28/26 |
200 | 199,808 | ||||||
6.12%, 10/28/33 |
400 | 400,900 | ||||||
U.S. Bancorp. |
||||||||
1.38%, 07/22/30 (Call 04/22/30) |
435 | 321,304 | ||||||
1.45%, 05/12/25 (Call 04/11/25) |
439 | 401,189 | ||||||
2.22%, 01/27/28
(Call 01/27/27), |
500 | 436,150 | ||||||
2.40%, 07/30/24 (Call 06/28/24) |
497 | 475,013 | ||||||
2.49%, 11/03/36 (Call 11/03/31)(b) |
450 | 330,422 | ||||||
2.68%, 01/27/33
(Call 01/27/32), |
280 | 220,433 | ||||||
3.00%, 07/30/29 (Call 04/30/29) |
422 | 356,708 | ||||||
3.10%, 04/27/26 (Call 03/27/26) |
58 | 53,804 | ||||||
3.38%, 02/05/24 (Call 01/05/24) |
486 | 476,100 | ||||||
3.60%, 09/11/24 (Call 08/11/24) |
427 | 415,556 | ||||||
3.90%, 04/26/28 (Call 03/24/28) |
290 | 270,805 | ||||||
3.95%, 11/17/25 (Call 10/17/25) |
390 | 376,642 | ||||||
4.55%, 07/22/28 (Call 07/22/27)(b) |
560 | 532,056 | ||||||
4.97%, 07/22/33 (Call 07/22/32)(b) |
385 | 350,627 | ||||||
5.73%, 10/21/26 |
140 | 140,482 | ||||||
5.85%, 10/21/33 |
670 | 669,109 | ||||||
Series V, 2.38%, 07/22/26 (Call 06/22/26) |
439 | 397,839 | ||||||
Series X, 3.15%, 04/27/27 (Call 03/27/27) |
504 | 463,680 | ||||||
U.S. Bank NA/Cincinnati OH |
||||||||
2.05%, 01/21/25 (Call 12/20/24) |
200 | 186,896 | ||||||
2.80%, 01/27/25 (Call 12/27/24)(a) |
429 | 408,159 | ||||||
Wachovia Corp., 5.50%, 08/01/35 |
315 | 287,129 | ||||||
Wells Fargo & Co. |
||||||||
0.81%, 05/19/25
(Call 05/19/24), |
415 | 383,995 | ||||||
2.16%, 02/11/26
(Call 02/11/25), |
825 | 756,814 | ||||||
2.19%, 04/30/26
(Call 04/30/25), |
620 | 564,200 | ||||||
2.39%, 06/02/28
(Call 06/02/27), |
935 | 798,836 | ||||||
2.41%, 10/30/25
(Call 10/30/24), |
825 | 768,199 | ||||||
2.57%, 02/11/31
(Call 02/11/30), |
508 | 405,257 | ||||||
2.88%, 10/30/30
(Call 10/30/29), |
785 | 643,355 | ||||||
3.00%, 02/19/25 |
777 | 734,319 | ||||||
3.00%, 04/22/26 |
564 | 516,224 | ||||||
3.00%, 10/23/26 |
650 | 588,666 | ||||||
3.07%, 04/30/41
(Call 04/30/40), |
433 | 293,275 | ||||||
3.20%, 06/17/27
(Call 06/17/26), |
822 | 744,724 | ||||||
3.30%, 09/09/24 |
675 | 652,273 | ||||||
3.35%, 03/02/33
(Call 03/02/32), |
650 | 524,881 | ||||||
3.53%, 03/24/28
(Call 03/24/27), |
815 | 734,747 | ||||||
3.55%, 09/29/25 |
378 | 358,219 | ||||||
3.58%, 05/22/28
(Call 05/22/27), |
884 | 796,086 | ||||||
3.90%, 05/01/45 |
613 | 444,094 | ||||||
3.91%, 04/25/26
(Call 04/25/25), |
870 | 827,805 | ||||||
4.10%, 06/03/26 |
779 | 736,412 | ||||||
4.15%, 01/24/29 (Call 10/24/28) |
570 | 518,689 |
50 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
4.30%, 07/22/27 |
$ | 741 | $ | 692,613 | ||||
4.40%, 06/14/46 |
575 | 425,609 | ||||||
4.48%, 04/04/31 (Call 04/04/30), (SOFR + 4.032%)(b) |
646 | 585,018 | ||||||
4.54%, 08/15/26 (Call 08/15/25)(b) |
105 | 101,010 | ||||||
4.61%, 04/25/53 (Call 04/25/52)(b) |
900 | 716,391 | ||||||
4.65%, 11/04/44 |
592 | 457,764 | ||||||
4.75%, 12/07/46 |
566 | 437,026 | ||||||
4.81%, 07/25/28 (Call 07/25/27)(a)(b) |
845 | 801,347 | ||||||
4.90%, 07/25/33 (Call 07/25/32)(b) |
700 | 639,107 | ||||||
4.90%, 11/17/45 |
578 | 460,834 | ||||||
5.01%, 04/04/51 (Call 04/04/50), (SOFR + 4.502%)(b) |
1,382 | 1,167,223 | ||||||
5.38%, 11/02/43 |
450 | 380,448 | ||||||
5.61%, 01/15/44(a) |
680 | 593,021 | ||||||
Wells Fargo Bank NA |
||||||||
5.85%, 02/01/37 |
330 | 313,870 | ||||||
5.95%, 08/26/36 |
250 | 240,145 | ||||||
6.60%, 01/15/38 |
383 | 392,510 | ||||||
Westpac Banking Corp. |
||||||||
1.02%, 11/18/24 |
610 | 562,627 | ||||||
1.15%, 06/03/26 |
635 | 551,783 | ||||||
1.95%, 11/20/28 |
510 | 422,632 | ||||||
2.15%, 06/03/31(a) |
325 | 256,357 | ||||||
2.35%, 02/19/25 |
313 | 294,370 | ||||||
2.65%, 01/16/30 |
310 | 260,388 | ||||||
2.70%, 08/19/26 |
490 | 447,929 | ||||||
2.85%, 05/13/26(a) |
180 | 166,565 | ||||||
3.30%, 02/26/24(a) |
271 | 265,827 | ||||||
3.35%, 03/08/27 |
320 | 296,499 | ||||||
3.40%, 01/25/28 |
420 | 385,980 | ||||||
3.74%, 08/26/25 |
223 | 215,139 | ||||||
4.04%, 08/26/27(a) |
305 | 289,768 | ||||||
|
|
|||||||
273,279,998 | ||||||||
Beverages — 1.9% | ||||||||
Brown-Forman Corp., 4.50%, 07/15/45 (Call 01/15/45) |
270 | 233,480 | ||||||
Coca-Cola Co. (The) |
||||||||
1.00%, 03/15/28 |
465 | 382,635 | ||||||
1.38%, 03/15/31 |
314 | 239,083 | ||||||
1.45%, 06/01/27 |
155 | 134,583 | ||||||
1.50%, 03/05/28 |
311 | 263,684 | ||||||
1.65%, 06/01/30 |
330 | 262,439 | ||||||
1.75%, 09/06/24 |
269 | 256,145 | ||||||
2.00%, 03/05/31 |
275 | 221,152 | ||||||
2.13%, 09/06/29 |
373 | 313,715 | ||||||
2.25%, 01/05/32 |
700 | 566,223 | ||||||
2.50%, 06/01/40 |
419 | 290,476 | ||||||
2.50%, 03/15/51(a) |
538 | 329,649 | ||||||
2.60%, 06/01/50 |
575 | 365,022 | ||||||
2.75%, 06/01/60 |
252 | 153,329 | ||||||
2.88%, 05/05/41 |
360 | 258,412 | ||||||
2.90%, 05/25/27 |
229 | 211,630 | ||||||
3.00%, 03/05/51 |
479 | 327,339 | ||||||
3.38%, 03/25/27 |
371 | 352,572 | ||||||
3.45%, 03/25/30 |
430 | 389,219 | ||||||
4.20%, 03/25/50 |
155 | 131,869 | ||||||
Coca-Cola Femsa SAB de CV |
||||||||
1.85%, 09/01/32 (Call 06/01/32)(a) |
273 | 197,395 | ||||||
2.75%, 01/22/30 (Call 10/22/29)(a) |
445 | 375,095 | ||||||
Diageo Capital PLC |
||||||||
1.38%, 09/29/25 (Call 08/29/25) |
270 | 243,572 | ||||||
2.00%, 04/29/30 (Call 01/29/30) |
365 | 289,978 |
Security | Par (000) |
Value | ||||||
Beverages (continued) | ||||||||
2.13%, 10/24/24 (Call 09/24/24) |
$ | 265 | $ | 250,255 | ||||
2.13%, 04/29/32 (Call 01/29/32) |
295 | 225,755 | ||||||
2.38%, 10/24/29 (Call 07/24/29) |
230 | 190,454 | ||||||
3.88%, 05/18/28 (Call 02/18/28) |
60 | 56,214 | ||||||
3.88%, 04/29/43 (Call 10/29/42) |
281 | 216,381 | ||||||
5.20%, 10/24/25 |
200 | 200,686 | ||||||
5.88%, 09/30/36 |
284 | 287,698 | ||||||
Diageo Investment Corp., 4.25%, 05/11/42 |
148 | 119,938 | ||||||
PepsiCo Inc. |
||||||||
1.40%, 02/25/31 (Call 11/25/30) |
325 | 249,902 | ||||||
1.63%, 05/01/30 (Call 02/01/30) |
125 | 99,493 | ||||||
1.95%, 10/21/31 (Call 07/21/31) |
380 | 301,040 | ||||||
2.25%, 03/19/25 (Call 02/19/25) |
609 | 573,648 | ||||||
2.38%, 10/06/26 (Call 07/06/26) |
297 | 271,648 | ||||||
2.63%, 03/19/27 (Call 01/19/27) |
160 | 145,806 | ||||||
2.63%, 07/29/29 (Call 04/29/29) |
453 | 392,737 | ||||||
2.63%, 10/21/41 (Call 04/21/41) |
355 | 244,414 | ||||||
2.75%, 04/30/25 (Call 01/30/25) |
432 | 410,387 | ||||||
2.75%, 03/19/30 (Call 12/19/29) |
97 | 83,933 | ||||||
2.75%, 10/21/51 (Call 04/21/51) |
280 | 181,961 | ||||||
2.85%, 02/24/26 (Call 11/24/25) |
400 | 376,904 | ||||||
2.88%, 10/15/49 (Call 04/15/49) |
495 | 335,288 | ||||||
3.00%, 10/15/27 (Call 07/15/27) |
483 | 446,070 | ||||||
3.45%, 10/06/46 (Call 04/06/46) |
361 | 270,902 | ||||||
3.50%, 07/17/25 (Call 04/17/25) |
81 | 78,299 | ||||||
3.60%, 02/18/28 (Call 01/18/28) |
270 | 254,075 | ||||||
3.63%, 03/19/50 (Call 09/19/49) |
244 | 189,576 | ||||||
3.88%, 03/19/60 (Call 09/19/59) |
245 | 192,482 | ||||||
3.90%, 07/18/32 (Call 04/18/32) |
400 | 370,536 | ||||||
4.00%, 05/02/47 (Call 11/02/46) |
210 | 172,471 | ||||||
4.20%, 07/18/52 (Call 01/18/52) |
230 | 196,257 | ||||||
5.50%, 01/15/40 |
200 | 200,676 | ||||||
7.00%, 03/01/29 |
80 | 88,331 | ||||||
|
|
|||||||
14,462,913 | ||||||||
Chemicals — 0.5% | ||||||||
Air Products and Chemicals Inc. |
||||||||
1.50%, 10/15/25 (Call 09/15/25) |
320 | 290,208 | ||||||
1.85%, 05/15/27 (Call 03/15/27) |
286 | 249,621 | ||||||
2.05%, 05/15/30 (Call 02/15/30) |
235 | 190,082 | ||||||
2.70%, 05/15/40 (Call 11/15/39) |
267 | 185,512 | ||||||
2.80%, 05/15/50 (Call 11/15/49) |
128 | 81,976 | ||||||
Ecolab Inc. |
||||||||
1.30%, 01/30/31 (Call 10/30/30) |
160 | 119,320 | ||||||
1.65%, 02/01/27 (Call 01/01/27)(a) |
220 | 191,803 | ||||||
2.13%, 02/01/32 (Call 11/01/31)(a) |
245 | 191,663 | ||||||
2.13%, 08/15/50 (Call 02/15/50)(a) |
150 | 80,940 | ||||||
2.70%, 11/01/26 (Call 08/01/26) |
445 | 407,954 | ||||||
2.70%, 12/15/51 (Call 06/15/51) |
160 | 95,160 | ||||||
2.75%, 08/18/55 (Call 02/18/55) |
245 | 141,304 | ||||||
3.25%, 12/01/27 (Call 09/01/27) |
252 | 231,840 | ||||||
4.80%, 03/24/30 (Call 12/24/29) |
212 | 205,581 | ||||||
EI du Pont de Nemours and Co. |
||||||||
1.70%, 07/15/25 (Call 06/15/25) |
206 | 188,694 | ||||||
2.30%, 07/15/30 (Call 04/15/30) |
157 | 126,766 | ||||||
Linde Inc./CT |
||||||||
1.10%, 08/10/30 (Call 05/10/30) |
240 | 179,594 | ||||||
3.20%, 01/30/26 (Call 10/30/25) |
181 | 171,619 | ||||||
3.55%, 11/07/42 (Call 05/07/42) |
287 | 216,346 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Chemicals (continued) | ||||||||
PPG Industries Inc. |
||||||||
1.20%, 03/15/26 (Call 02/15/26) |
$ | 145 | $ | 125,587 | ||||
3.75%, 03/15/28 (Call 12/15/27) |
263 | 241,108 | ||||||
|
|
|||||||
3,912,678 | ||||||||
Commercial Services — 1.4% | ||||||||
American University (The), Series 2019, 3.67%, 04/01/49 |
158 | 113,673 | ||||||
Automatic Data Processing Inc. |
||||||||
1.25%, 09/01/30 (Call 06/01/30)(a) |
466 | 357,077 | ||||||
1.70%, 05/15/28 (Call 03/15/28) |
525 | 446,723 | ||||||
3.38%, 09/15/25 (Call 06/15/25) |
566 | 544,950 | ||||||
Brown University in Providence in the State of Rhode Island and Providence Plant, Series A, 2.92%, 09/01/50 (Call 03/01/50) |
265 | 175,894 | ||||||
California Institute of Technology, 3.65%, 09/01/2119 (Call 03/01/2119) |
165 | 98,484 | ||||||
Cintas Corp. No. 2 |
||||||||
3.70%, 04/01/27 (Call 01/01/27) |
328 | 309,396 | ||||||
4.00%, 05/01/32 (Call 02/01/32) |
125 | 113,201 | ||||||
Duke University, Series 2020, 2.83%, 10/01/55 |
245 | 150,415 | ||||||
Ford Foundation (The), Series 2020, 2.82%, 06/01/70 (Call 12/01/69) |
350 | 189,903 | ||||||
George Washington University (The), Series 2018, 4.13%, 09/15/48 (Call 03/15/48) |
41 | 31,770 | ||||||
Leland Stanford Junior University (The), 3.65%, 05/01/48 (Call 11/01/47) |
289 | 224,839 | ||||||
Massachusetts Institute of Technology |
||||||||
3.07%, 04/01/52 (Call 10/01/51) |
100 | 68,325 | ||||||
3.89%, 07/01/2116 |
158 | 104,514 | ||||||
4.68%, 07/01/2114 |
140 | 113,156 | ||||||
5.60%, 07/01/2111 |
263 | 251,691 | ||||||
Series F, 2.99%, 07/01/50 (Call 01/01/50) |
175 | 118,778 | ||||||
Northwestern University, 4.64%, 12/01/44 |
259 | 234,812 | ||||||
PayPal Holdings Inc. |
||||||||
1.65%, 06/01/25 (Call 05/01/25) |
300 | 275,358 | ||||||
2.30%, 06/01/30 (Call 03/01/30)(a) |
370 | 298,139 | ||||||
2.40%, 10/01/24 (Call 09/01/24)(a) |
360 | 342,842 | ||||||
2.65%, 10/01/26 (Call 08/01/26) |
335 | 305,637 | ||||||
2.85%, 10/01/29 (Call 07/01/29) |
565 | 480,984 | ||||||
3.25%, 06/01/50 (Call 12/01/49)(a) |
305 | 199,192 | ||||||
3.90%, 06/01/27 (Call 05/01/27)(a) |
120 | 114,037 | ||||||
4.40%, 06/01/32 (Call 03/01/32) |
540 | 495,752 | ||||||
5.05%, 06/01/52 (Call 12/01/51)(a) |
325 | 281,473 | ||||||
5.25%, 06/01/62 (Call 12/01/61) |
95 | 81,711 | ||||||
President and Fellows of Harvard College |
||||||||
2.52%, 10/15/50 (Call 04/15/50) |
86 | 52,240 | ||||||
3.15%, 07/15/46 (Call 01/15/46) |
319 | 228,713 | ||||||
3.30%, 07/15/56 (Call 01/15/56) |
235 | 164,432 | ||||||
3.75%, 11/15/52 (Call 05/15/52) |
110 | 85,738 | ||||||
Rockefeller Foundation (The), Series 2020, 2.49%, 10/01/50 (Call 04/01/50) |
315 | 184,927 | ||||||
S&P Global Inc. |
||||||||
1.25%, 08/15/30 (Call 05/15/30) |
50 | 37,173 | ||||||
2.30%, 08/15/60 (Call 02/15/60) |
163 | 82,809 | ||||||
2.45%, 03/01/27 (Call 02/01/27)(a)(c) |
200 | 179,146 | ||||||
2.50%, 12/01/29 (Call 09/01/29)(a) |
230 | 191,585 | ||||||
2.70%, 03/01/29 (Call 01/01/29)(c) |
570 | 489,858 | ||||||
2.90%, 03/01/32 (Call 12/01/31)(c) |
505 | 415,721 | ||||||
2.95%, 01/22/27 (Call 10/22/26)(a) |
318 | 291,015 | ||||||
3.25%, 12/01/49 (Call 06/01/49) |
219 | 147,902 | ||||||
3.70%, 03/01/52 (Call 09/01/51)(a)(c) |
340 | 247,741 |
Security | Par (000) |
Value | ||||||
Commercial Services (continued) | ||||||||
3.90%, 03/01/62 (Call 09/01/61)(a)(c) |
$ | 250 | $ | 179,503 | ||||
4.25%, 05/01/29 (Call 02/01/29)(a)(c) |
190 | 177,306 | ||||||
4.75%, 08/01/28 (Call 05/01/28)(c) |
50 | 48,474 | ||||||
Thomas Jefferson University, 3.85%, 11/01/57 (Call 05/01/57) |
115 | 77,187 | ||||||
Trustees of Princeton University (The) |
||||||||
5.70%, 03/01/39 |
164 | 169,601 | ||||||
Series 2020, 2.52%, 07/01/50 (Call 01/01/50) |
259 | 162,093 | ||||||
University of Miami, 4.06%, 04/01/52 |
220 | 168,104 | ||||||
University of Southern California, 3.03%, 10/01/39 |
289 | 218,998 | ||||||
Washington University (The) |
||||||||
3.52%, 04/15/54 (Call 10/15/53)(a) |
255 | 184,883 | ||||||
4.35%, 04/15/2122 (Call 10/15/2121) |
70 | 49,776 | ||||||
Yale University |
||||||||
Series 2020, 0.87%, 04/15/25 (Call 03/15/25) |
53 | 48,239 | ||||||
Series 2020, 1.48%, 04/15/30 (Call 01/15/30) |
180 | 140,522 | ||||||
Series 2020, 2.40%, 04/15/50 (Call 10/15/49) |
130 | 77,344 | ||||||
|
|
|||||||
11,023,756 | ||||||||
Computers — 4.2% | ||||||||
Apple Inc. |
||||||||
0.55%, 08/20/25 (Call 07/20/25) |
125 | 111,560 | ||||||
0.70%, 02/08/26 (Call 01/08/26) |
690 | 605,137 | ||||||
1.13%, 05/11/25 (Call 04/11/25) |
827 | 757,003 | ||||||
1.20%, 02/08/28 (Call 12/08/27) |
413 | 344,194 | ||||||
1.25%, 08/20/30 (Call 05/20/30) |
420 | 322,447 | ||||||
1.40%, 08/05/28 (Call 06/05/28) |
780 | 646,144 | ||||||
1.65%, 05/11/30 (Call 02/11/30) |
583 | 466,645 | ||||||
1.65%, 02/08/31 (Call 11/08/30) |
940 | 737,439 | ||||||
1.70%, 08/05/31 (Call 05/05/31) |
260 | 202,054 | ||||||
1.80%, 09/11/24 (Call 08/11/24) |
171 | 162,363 | ||||||
2.05%, 09/11/26 (Call 07/11/26) |
735 | 664,991 | ||||||
2.20%, 09/11/29 (Call 06/11/29) |
577 | 487,796 | ||||||
2.38%, 02/08/41 (Call 08/08/40) |
585 | 391,318 | ||||||
2.40%, 08/20/50 (Call 02/20/50) |
355 | 209,532 | ||||||
2.45%, 08/04/26 (Call 05/04/26) |
835 | 768,567 | ||||||
2.50%, 02/09/25(a) |
91 | 86,812 | ||||||
2.55%, 08/20/60 (Call 02/20/60) |
280 | 161,300 | ||||||
2.65%, 05/11/50 (Call 11/11/49) |
862 | 541,845 | ||||||
2.65%, 02/08/51 (Call 08/08/50) |
822 | 511,448 | ||||||
2.70%, 08/05/51 (Call 02/05/51) |
670 | 420,224 | ||||||
2.75%, 01/13/25 (Call 11/13/24) |
592 | 568,326 | ||||||
2.80%, 02/08/61 (Call 08/08/60) |
515 | 305,508 | ||||||
2.85%, 05/11/24 (Call 03/11/24) |
573 | 557,403 | ||||||
2.85%, 08/05/61 (Call 02/05/61) |
585 | 351,755 | ||||||
2.90%, 09/12/27 (Call 06/12/27) |
770 | 708,115 | ||||||
2.95%, 09/11/49 (Call 03/11/49) |
435 | 293,542 | ||||||
3.00%, 02/09/24 (Call 12/09/23)(a) |
703 | 688,694 | ||||||
3.00%, 06/20/27 (Call 03/20/27) |
636 | 593,534 | ||||||
3.00%, 11/13/27 (Call 08/13/27) |
649 | 600,494 | ||||||
3.20%, 05/13/25 |
678 | 653,165 | ||||||
3.20%, 05/11/27 (Call 02/11/27)(a) |
802 | 751,450 | ||||||
3.25%, 02/23/26 (Call 11/23/25) |
1,261 | 1,202,061 | ||||||
3.25%, 08/08/29 (Call 06/08/29) |
340 | 309,373 | ||||||
3.35%, 02/09/27 (Call 11/09/26) |
778 | 737,956 | ||||||
3.35%, 08/08/32 (Call 05/08/32) |
555 | 489,571 | ||||||
3.45%, 05/06/24 |
666 | 654,045 | ||||||
3.45%, 02/09/45 |
584 | 442,252 | ||||||
3.75%, 09/12/47 (Call 03/12/47) |
410 | 320,477 | ||||||
3.75%, 11/13/47 (Call 05/13/47) |
497 | 389,847 | ||||||
3.85%, 05/04/43(a) |
814 | 661,937 | ||||||
3.85%, 08/04/46 (Call 02/04/46) |
342 | 273,080 |
52 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Computers (continued) |
| |||||||
3.95%, 08/08/52 (Call 02/08/52) |
$ | 530 | $ | 420,698 | ||||
4.10%, 08/08/62 (Call 02/08/62) |
450 | 350,014 | ||||||
4.25%, 02/09/47 (Call 08/09/46) |
343 | 295,103 | ||||||
4.38%, 05/13/45 |
445 | 387,973 | ||||||
4.45%, 05/06/44 |
369 | 329,834 | ||||||
4.50%, 02/23/36 (Call 08/23/35)(a) |
398 | 380,954 | ||||||
4.65%, 02/23/46 (Call 08/23/45) |
1,242 | 1,119,961 | ||||||
International Business Machines Corp. |
||||||||
1.70%, 05/15/27 (Call 03/15/27) |
530 | 455,683 | ||||||
1.95%, 05/15/30 (Call 02/15/30) |
375 | 295,106 | ||||||
2.20%, 02/09/27 (Call 01/09/27) |
260 | 230,269 | ||||||
2.72%, 02/09/32 (Call 11/09/31) |
200 | 160,736 | ||||||
2.85%, 05/15/40 (Call 11/15/39) |
243 | 163,918 | ||||||
2.95%, 05/15/50 (Call 11/15/49) |
300 | 181,602 | ||||||
3.00%, 05/15/24 |
948 | 920,062 | ||||||
3.30%, 05/15/26 |
1,080 | 1,013,332 | ||||||
3.30%, 01/27/27 |
155 | 143,676 | ||||||
3.43%, 02/09/52 (Call 08/09/51) |
240 | 156,790 | ||||||
3.45%, 02/19/26 |
513 | 486,801 | ||||||
3.50%, 05/15/29 |
1,010 | 904,627 | ||||||
3.63%, 02/12/24 |
757 | 743,995 | ||||||
4.00%, 07/27/25(a) |
290 | 282,588 | ||||||
4.00%, 06/20/42 |
410 | 316,664 | ||||||
4.15%, 07/27/27 (Call 06/27/27) |
105 | 100,342 | ||||||
4.15%, 05/15/39 |
450 | 366,345 | ||||||
4.25%, 05/15/49 |
710 | 550,726 | ||||||
4.40%, 07/27/32 (Call 04/27/32)(a) |
130 | 119,002 | ||||||
4.70%, 02/19/46 |
380 | 315,316 | ||||||
4.90%, 07/27/52 (Call 01/27/52) |
210 | 177,093 | ||||||
5.60%, 11/30/39(a) |
314 | 299,088 | ||||||
5.88%, 11/29/32 |
227 | 231,896 | ||||||
7.00%, 10/30/25(a) |
204 | 214,224 | ||||||
|
|
|||||||
32,265,822 | ||||||||
Cosmetics & Personal Care — 1.2% | ||||||||
Colgate-Palmolive Co. |
||||||||
3.10%, 08/15/25(a) |
255 | 245,211 | ||||||
3.10%, 08/15/27 (Call 07/15/27) |
250 | 233,745 | ||||||
3.25%, 03/15/24(a) |
137 | 134,682 | ||||||
3.25%, 08/15/32 (Call 05/15/32) |
275 | 242,423 | ||||||
3.70%, 08/01/47 (Call 02/01/47)(a) |
158 | 124,976 | ||||||
4.00%, 08/15/45 |
152 | 126,469 | ||||||
Estee Lauder Companies Inc. (The) |
||||||||
1.95%, 03/15/31 (Call 12/15/30) |
135 | 105,840 | ||||||
2.00%, 12/01/24 (Call 11/01/24)(a) |
222 | 210,187 | ||||||
2.38%, 12/01/29 (Call 09/01/29) |
150 | 125,394 | ||||||
2.60%, 04/15/30 (Call 01/15/30) |
270 | 226,290 | ||||||
3.13%, 12/01/49 (Call 06/01/49)(a) |
329 | 224,635 | ||||||
3.15%, 03/15/27 (Call 12/15/26) |
158 | 146,227 | ||||||
4.15%, 03/15/47 (Call 09/15/46) |
225 | 181,366 | ||||||
Procter & Gamble Co. (The) |
||||||||
0.55%, 10/29/25 |
505 | 446,789 | ||||||
1.00%, 04/23/26 |
425 | 376,125 | ||||||
1.20%, 10/29/30 |
485 | 369,866 | ||||||
1.90%, 02/01/27 |
495 | 444,059 | ||||||
1.95%, 04/23/31 |
490 | 394,847 | ||||||
2.30%, 02/01/32(a) |
425 | 349,877 | ||||||
2.45%, 11/03/26 |
566 | 521,597 | ||||||
2.70%, 02/02/26(a) |
484 | 455,671 | ||||||
2.80%, 03/25/27 |
227 | 209,321 | ||||||
2.85%, 08/11/27 |
33 | 30,358 |
Security |
Par (000) |
Value | ||||||
Cosmetics & Personal Care (continued) |
| |||||||
3.00%, 03/25/30(a) |
$ | 555 | $ | 493,922 | ||||
3.55%, 03/25/40 |
10 | 8,091 | ||||||
Unilever Capital Corp. |
||||||||
0.63%, 08/12/24 (Call 12/01/22) |
10 | 9,295 | ||||||
1.38%, 09/14/30 (Call 06/14/30) |
270 | 204,204 | ||||||
1.75%, 08/12/31 (Call 05/12/31) |
260 | 198,060 | ||||||
2.00%, 07/28/26 |
320 | 288,186 | ||||||
2.13%, 09/06/29 (Call 06/06/29) |
115 | 94,863 | ||||||
2.60%, 05/05/24 (Call 03/05/24) |
370 | 357,731 | ||||||
2.90%, 05/05/27 (Call 02/05/27) |
425 | 388,242 | ||||||
3.10%, 07/30/25 |
275 | 262,666 | ||||||
3.50%, 03/22/28 (Call 12/22/27) |
530 | 488,655 | ||||||
5.90%, 11/15/32 |
313 | 326,578 | ||||||
Series 30Y, 2.63%, 08/12/51 (Call 02/12/51)(a) |
275 | 166,059 | ||||||
|
|
|||||||
9,212,507 | ||||||||
Distribution & Wholesale — 0.1% | ||||||||
WW Grainger Inc. |
||||||||
1.85%, 02/15/25 (Call 01/15/25) |
184 | 171,502 | ||||||
4.60%, 06/15/45 (Call 12/15/44)(a) |
377 | 325,223 | ||||||
|
|
|||||||
496,725 | ||||||||
Diversified Financial Services — 4.1% | ||||||||
American Express Co. |
||||||||
1.65%, 11/04/26 (Call 10/04/26) |
295 | 254,107 | ||||||
2.25%, 03/04/25 (Call 02/01/25) |
185 | 171,830 | ||||||
2.50%, 07/30/24 (Call 06/30/24) |
685 | 651,182 | ||||||
2.55%, 03/04/27 (Call 02/01/27) |
385 | 338,303 | ||||||
3.00%, 10/30/24 (Call 09/29/24) |
674 | 644,034 | ||||||
3.13%, 05/20/26 (Call 04/20/26) |
305 | 282,107 | ||||||
3.30%, 05/03/27 (Call 04/03/27) |
964 | 873,577 | ||||||
3.38%, 05/03/24 |
210 | 203,692 | ||||||
3.40%, 02/22/24 (Call 01/22/24) |
845 | 824,230 | ||||||
3.63%, 12/05/24 (Call 11/04/24) |
586 | 566,492 | ||||||
3.95%, 08/01/25 (Call 07/01/25) |
310 | 297,665 | ||||||
4.05%, 05/03/29 (Call 03/03/29) |
560 | 507,853 | ||||||
4.05%, 12/03/42 |
184 | 142,571 | ||||||
4.20%, 11/06/25 (Call 10/06/25) |
330 | 320,367 | ||||||
4.42%, 08/03/33 (Call 08/03/32)(b) |
340 | 302,229 | ||||||
4.99%, 05/26/33 (Call 02/26/32)(b) |
370 | 336,171 | ||||||
5.85%, 11/05/27 |
190 | 189,863 | ||||||
Ameriprise Financial Inc. |
||||||||
2.88%, 09/15/26 (Call 06/15/26) |
315 | 288,420 | ||||||
3.00%, 04/02/25 (Call 03/02/25) |
150 | 142,201 | ||||||
3.70%, 10/15/24 |
405 | 393,190 | ||||||
4.50%, 05/13/32 (Call 02/13/32)(a) |
335 | 310,974 | ||||||
Brookfield Finance I UK PLC, 2.34%, 01/30/32 (Call 10/30/31) |
210 | 153,063 | ||||||
Brookfield Finance Inc. |
||||||||
2.72%, 04/15/31 (Call 01/15/31) |
160 | 123,835 | ||||||
3.50%, 03/30/51 (Call 09/30/50) |
213 | 127,819 | ||||||
3.90%, 01/25/28 (Call 10/25/27) |
351 | 314,331 | ||||||
4.00%, 04/01/24 (Call 02/01/24) |
125 | 122,438 | ||||||
4.25%, 06/02/26 (Call 03/02/26) |
181 | 171,680 | ||||||
4.35%, 04/15/30 (Call 01/15/30) |
136 | 119,443 | ||||||
4.70%, 09/20/47 (Call 03/20/47) |
317 | 236,916 | ||||||
4.85%, 03/29/29 (Call 12/29/28) |
370 | 342,305 | ||||||
Brookfield Finance LLC, 3.45%, 04/15/50 (Call 10/15/49) |
264 | 155,781 | ||||||
Cboe Global Markets Inc. |
||||||||
1.63%, 12/15/30 (Call 09/15/30) |
250 | 187,010 | ||||||
3.65%, 01/12/27 (Call 10/12/26) |
344 | 321,974 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) |
| |||||||
Charles Schwab Corp. (The) |
||||||||
0.75%, 03/18/24 (Call 02/18/24) |
$ | 312 | $ | 294,391 | ||||
0.90%, 03/11/26 (Call 02/11/26)(a) |
451 | 389,574 | ||||||
1.15%, 05/13/26 (Call 04/13/26) |
270 | 233,952 | ||||||
1.65%, 03/11/31 (Call 12/11/30) |
260 | 193,331 | ||||||
1.95%, 12/01/31 (Call 09/01/31) |
315 | 236,203 | ||||||
2.00%, 03/20/28 (Call 01/20/28)(a) |
336 | 286,289 | ||||||
2.30%, 05/13/31 (Call 02/13/31) |
265 | 207,792 | ||||||
2.45%, 03/03/27 (Call 02/03/27) |
415 | 370,670 | ||||||
2.90%, 03/03/32 (Call 12/03/31) |
325 | 263,945 | ||||||
3.20%, 03/02/27 (Call 12/02/26) |
325 | 298,971 | ||||||
3.20%, 01/25/28 (Call 10/25/27) |
100 | 90,509 | ||||||
3.25%, 05/22/29 (Call 02/22/29) |
131 | 116,069 | ||||||
3.30%, 04/01/27 (Call 01/01/27) |
83 | 76,487 | ||||||
3.55%, 02/01/24 (Call 01/01/24) |
449 | 440,873 | ||||||
3.85%, 05/21/25 (Call 03/21/25) |
121 | 117,487 | ||||||
4.00%, 02/01/29 (Call 11/01/28)(a) |
82 | 76,060 | ||||||
4.20%, 03/24/25 (Call 02/24/25) |
308 | 303,417 | ||||||
4.63%, 03/22/30 (Call 12/22/29)(a) |
256 | 243,407 | ||||||
CME Group Inc. |
||||||||
2.65%, 03/15/32 (Call 12/15/31) |
240 | 193,322 | ||||||
3.00%, 03/15/25 (Call 12/15/24) |
392 | 374,301 | ||||||
3.75%, 06/15/28 (Call 03/15/28) |
137 | 128,284 | ||||||
4.15%, 06/15/48 (Call 12/15/47) |
290 | 237,348 | ||||||
5.30%, 09/15/43 (Call 03/15/43) |
242 | 230,941 | ||||||
Credit Suisse USA Inc., 7.13%, 07/15/32 |
156 | 153,992 | ||||||
Franklin Resources Inc., 1.60%, 10/30/30 (Call 07/30/30) |
115 | 84,568 | ||||||
Intercontinental Exchange Inc. |
||||||||
1.85%, 09/15/32 (Call 06/15/32)(a) |
565 | 410,173 | ||||||
2.10%, 06/15/30 (Call 03/15/30) |
510 | 404,088 | ||||||
2.65%, 09/15/40 (Call 03/15/40) |
375 | 246,004 | ||||||
3.00%, 06/15/50 (Call 12/15/49)(a) |
175 | 109,491 | ||||||
3.00%, 09/15/60 (Call 03/15/60)(a) |
565 | 328,237 | ||||||
3.10%, 09/15/27 (Call 06/15/27)(a) |
135 | 122,502 | ||||||
3.65%, 05/23/25 (Call 04/23/25)(a) |
365 | 353,532 | ||||||
3.75%, 12/01/25 (Call 09/01/25)(a) |
645 | 619,561 | ||||||
3.75%, 09/21/28 (Call 06/21/28) |
160 | 146,413 | ||||||
4.00%, 09/15/27 (Call 08/15/27) |
600 | 568,446 | ||||||
4.25%, 09/21/48 (Call 03/21/48) |
55 | 42,772 | ||||||
4.35%, 06/15/29 (Call 04/15/29) |
535 | 506,709 | ||||||
4.60%, 03/15/33 (Call 12/15/32) |
690 | 633,185 | ||||||
4.95%, 06/15/52 (Call 12/15/51) |
660 | 572,180 | ||||||
5.20%, 06/15/62 (Call 12/15/61) |
390 | 347,755 | ||||||
Invesco Finance PLC, 3.75%, 01/15/26(a) |
237 | 224,456 | ||||||
Legg Mason Inc., 5.63%, 01/15/44 |
228 | 207,088 | ||||||
Mastercard Inc. |
||||||||
1.90%, 03/15/31 (Call 12/15/30)(a) |
245 | 194,287 | ||||||
2.00%, 03/03/25 (Call 02/03/25) |
241 | 226,494 | ||||||
2.00%, 11/18/31 (Call 08/18/31) |
195 | 153,291 | ||||||
2.95%, 11/21/26 (Call 08/21/26)(a) |
266 | 247,481 | ||||||
2.95%, 06/01/29 (Call 03/01/29) |
421 | 372,795 | ||||||
2.95%, 03/15/51 (Call 09/15/50) |
238 | 156,990 | ||||||
3.30%, 03/26/27 (Call 01/26/27) |
323 | 303,068 | ||||||
3.35%, 03/26/30 (Call 12/26/29)(a) |
342 | 307,479 | ||||||
3.38%, 04/01/24 |
174 | 170,736 | ||||||
3.50%, 02/26/28 (Call 11/26/27) |
185 | 172,241 | ||||||
3.65%, 06/01/49 (Call 12/01/48) |
395 | 300,121 | ||||||
3.80%, 11/21/46 (Call 05/21/46) |
311 | 243,426 | ||||||
3.85%, 03/26/50 (Call 09/26/49) |
276 | 216,939 | ||||||
3.95%, 02/26/48 (Call 08/26/47) |
245 | 196,306 |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) |
| |||||||
ORIX Corp. |
||||||||
2.25%, 03/09/31 |
$ | 160 | $ | 121,094 | ||||
3.25%, 12/04/24 |
301 | 287,816 | ||||||
3.70%, 07/18/27 |
260 | 238,189 | ||||||
4.00%, 04/13/32 |
185 | 157,492 | ||||||
5.00%, 09/13/27 |
125 | 120,980 | ||||||
5.20%, 09/13/32 |
135 | 125,406 | ||||||
Raymond James Financial Inc. |
||||||||
3.75%, 04/01/51 (Call 10/01/50)(a) |
285 | 193,401 | ||||||
4.65%, 04/01/30 (Call 01/01/30) |
195 | 181,576 | ||||||
4.95%, 07/15/46 |
310 | 261,497 | ||||||
Visa Inc. |
||||||||
0.75%, 08/15/27 (Call 06/15/27)(a) |
267 | 222,459 | ||||||
1.10%, 02/15/31 (Call 11/15/30) |
385 | 287,426 | ||||||
1.90%, 04/15/27 (Call 02/15/27) |
534 | 471,463 | ||||||
2.00%, 08/15/50 (Call 02/15/50) |
678 | 374,954 | ||||||
2.05%, 04/15/30 (Call 01/15/30) |
271 | 223,862 | ||||||
2.70%, 04/15/40 (Call 10/15/39) |
461 | 328,324 | ||||||
2.75%, 09/15/27 (Call 06/15/27) |
307 | 279,078 | ||||||
3.15%, 12/14/25 (Call 09/14/25) |
1,114 | 1,060,172 | ||||||
3.65%, 09/15/47 (Call 03/15/47) |
273 | 207,693 | ||||||
4.15%, 12/14/35 (Call 06/14/35) |
377 | 341,362 | ||||||
4.30%, 12/14/45 (Call 06/14/45) |
1,061 | 904,800 | ||||||
|
|
|||||||
31,553,126 | ||||||||
Electric — 5.5% | ||||||||
AEP Transmission Co. LLC |
||||||||
3.75%, 12/01/47 (Call 06/01/47) |
210 | 150,826 | ||||||
4.50%, 06/15/52 (Call 12/01/51) |
245 | 198,376 | ||||||
Series M, 3.65%, 04/01/50 (Call 10/01/49) |
80 | 56,199 | ||||||
Alabama Power Co. |
||||||||
3.00%, 03/15/52 (Call 09/15/51) |
130 | 82,524 | ||||||
3.05%, 03/15/32 (Call 12/15/31)(a) |
40 | 33,536 | ||||||
3.13%, 07/15/51 (Call 01/15/51) |
130 | 84,318 | ||||||
3.45%, 10/01/49 (Call 04/01/49) |
295 | 199,924 | ||||||
3.75%, 09/01/27 (Call 08/01/27) |
255 | 239,963 | ||||||
3.75%, 03/01/45 (Call 09/01/44) |
255 | 184,816 | ||||||
6.00%, 03/01/39 |
137 | 135,711 | ||||||
Series 20-A, 1.45%, 09/15/30 (Call 06/15/30) |
230 | 173,466 | ||||||
Series A, 4.30%, 07/15/48 (Call 01/15/48) |
252 | 198,226 | ||||||
Series B, 3.70%, 12/01/47 (Call 06/01/47) |
244 | 174,741 | ||||||
Ameren Illinois Co. |
||||||||
3.70%, 12/01/47 (Call 06/01/47) |
281 | 204,076 | ||||||
3.85%, 09/01/32 (Call 06/01/32) |
190 | 169,244 | ||||||
4.50%, 03/15/49 (Call 09/15/48) |
150 | 123,959 | ||||||
Appalachian Power Co. |
||||||||
4.50%, 08/01/32 (Call 05/01/32) |
55 | 49,235 | ||||||
7.00%, 04/01/38 |
220 | 232,485 | ||||||
Series AA, 2.70%, 04/01/31 (Call 01/01/31) |
254 | 201,371 | ||||||
Series Z, 3.70%, 05/01/50 (Call 11/01/49) |
145 | 98,325 | ||||||
Arizona Public Service Co. |
||||||||
3.35%, 05/15/50 (Call 11/15/49)(a) |
186 | 115,551 | ||||||
4.35%, 11/15/45 (Call 05/15/45) |
180 | 132,853 | ||||||
Baltimore Gas & Electric Co. |
||||||||
2.25%, 06/15/31 (Call 03/15/31) |
250 | 197,122 | ||||||
3.50%, 08/15/46 (Call 02/15/46) |
190 | 132,772 | ||||||
4.55%, 06/01/52 (Call 12/01/51)(a) |
120 | 98,381 | ||||||
Berkshire Hathaway Energy Co. |
||||||||
1.65%, 05/15/31 (Call 02/15/31) |
145 | 108,576 | ||||||
2.85%, 05/15/51 (Call 11/15/50) |
510 | 305,837 | ||||||
3.25%, 04/15/28 (Call 01/15/28) |
169 | 152,460 |
54 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Electric (continued) |
| |||||||
3.70%, 07/15/30 (Call 04/15/30) |
$ | 170 | $ | 152,497 | ||||
3.80%, 07/15/48 (Call 01/15/48) |
305 | 220,850 | ||||||
4.05%, 04/15/25 (Call 03/15/25) |
10 | 9,790 | ||||||
4.25%, 10/15/50 (Call 04/15/50) |
335 | 259,360 | ||||||
4.45%, 01/15/49 (Call 07/15/48) |
247 | 199,386 | ||||||
4.50%, 02/01/45 (Call 08/01/44) |
274 | 221,924 | ||||||
4.60%, 05/01/53 (Call 11/01/52)(c) |
180 | 148,322 | ||||||
5.15%, 11/15/43 (Call 05/15/43) |
295 | 260,786 | ||||||
5.95%, 05/15/37 |
140 | 138,708 | ||||||
6.13%, 04/01/36 |
576 | 584,784 | ||||||
CenterPoint Energy Houston Electric LLC |
||||||||
3.55%, 08/01/42 (Call 02/01/42) |
110 | 81,628 | ||||||
3.60%, 03/01/52 (Call 09/01/51) |
250 | 178,230 | ||||||
4.50%, 04/01/44 (Call 10/01/43) |
269 | 226,614 | ||||||
Series AC, 4.25%, 02/01/49 (Call 08/01/48) |
143 | 114,776 | ||||||
Series AF, 3.35%, 04/01/51 (Call 10/01/50) |
43 | 29,476 | ||||||
Series ai., 4.45%, 10/01/32 (Call 07/01/32) |
125 | 117,194 | ||||||
Series AJ, 4.85%, 10/01/52 (Call 04/01/52) |
100 | 88,460 | ||||||
Commonwealth Edison Co. |
||||||||
2.55%, 06/15/26 (Call 03/15/26) |
333 | 305,411 | ||||||
3.00%, 03/01/50 (Call 09/01/49) |
265 | 168,757 | ||||||
3.65%, 06/15/46 (Call 12/15/45) |
227 | 162,405 | ||||||
3.70%, 08/15/28 (Call 05/15/28) |
183 | 167,851 | ||||||
4.00%, 03/01/48 (Call 09/01/47) |
285 | 218,740 | ||||||
5.90%, 03/15/36 |
55 | 55,136 | ||||||
Series 123, 3.75%, 08/15/47 (Call 02/15/47) |
281 | 205,476 | ||||||
Series 130, 3.13%, 03/15/51 (Call 09/15/50) |
121 | 78,241 | ||||||
Connecticut Light & Power Co. (The) |
||||||||
4.00%, 04/01/48 (Call 10/01/47) |
300 | 232,713 | ||||||
Series A, 3.20%, 03/15/27 (Call 12/15/26) |
20 | 18,449 | ||||||
Consolidated Edison Co. of New York Inc. |
||||||||
2.40%, 06/15/31 (Call 03/15/31) |
330 | 260,479 | ||||||
3.20%, 12/01/51 (Call 06/01/51) |
120 | 76,752 | ||||||
3.60%, 06/15/61 (Call 12/15/60)(a) |
365 | 242,090 | ||||||
3.70%, 11/15/59 (Call 05/15/59) |
135 | 89,714 | ||||||
3.85%, 06/15/46 (Call 12/15/45) |
220 | 159,834 | ||||||
3.95%, 03/01/43 (Call 09/01/42) |
282 | 209,952 | ||||||
4.45%, 03/15/44 (Call 09/15/43) |
143 | 115,185 | ||||||
4.50%, 12/01/45 (Call 06/01/45) |
188 | 150,720 | ||||||
4.50%, 05/15/58 (Call 11/15/57) |
235 | 178,793 | ||||||
4.63%, 12/01/54 (Call 06/01/54) |
218 | 172,891 | ||||||
Series 07-A, 6.30%, 08/15/37 |
177 | 179,998 | ||||||
Series 08-B, 6.75%, 04/01/38 |
96 | 99,924 | ||||||
Series 09-C, 5.50%, 12/01/39 |
216 | 198,152 | ||||||
Series 2017, 3.88%, 06/15/47 (Call 12/15/46) |
225 | 162,189 | ||||||
Series 20A, 3.35%, 04/01/30 (Call 01/01/30) |
233 | 202,104 | ||||||
Series 20B, 3.95%, 04/01/50 (Call 10/01/49)(a) |
474 | 350,798 | ||||||
Series A, 4.13%, 05/15/49 (Call 11/15/48) |
268 | 201,046 | ||||||
Series C, 3.00%, 12/01/60 (Call 06/01/60) |
70 | 39,813 | ||||||
Series C, 4.30%, 12/01/56 (Call 06/01/56) |
105 | 77,074 | ||||||
Series D, 4.00%, 12/01/28 (Call 09/01/28)(a) |
200 | 186,246 | ||||||
Series E, 4.65%, 12/01/48 (Call 06/01/48) |
152 | 123,579 | ||||||
Consumers Energy Co. |
||||||||
2.50%, 05/01/60 (Call 11/01/59) |
113 | 59,577 | ||||||
3.10%, 08/15/50 (Call 02/15/50) |
175 | 113,563 | ||||||
3.50%, 08/01/51 (Call 02/01/51) |
167 | 116,992 | ||||||
3.60%, 08/15/32 (Call 02/15/32) |
75 | 65,936 | ||||||
4.05%, 05/15/48 (Call 11/15/47) |
200 | 154,472 | ||||||
4.20%, 09/01/52 (Call 03/01/52) |
40 | 31,871 | ||||||
4.35%, 04/15/49 (Call 10/15/48) |
213 | 173,220 |
Security |
Par (000) |
Value | ||||||
Electric (continued) |
| |||||||
Dominion Energy South Carolina Inc. |
||||||||
5.10%, 06/01/65 (Call 12/01/64) |
$ | 134 | $ | 115,375 | ||||
6.05%, 01/15/38 |
60 | 59,957 | ||||||
DTE Electric Co. |
||||||||
2.25%, 03/01/30 (Call 12/01/29) |
170 | 138,552 | ||||||
2.95%, 03/01/50 (Call 09/01/49) |
157 | 100,182 | ||||||
3.70%, 03/15/45 (Call 09/15/44) |
256 | 189,601 | ||||||
3.95%, 03/01/49 (Call 09/01/48) |
245 | 188,003 | ||||||
Series A, 1.90%, 04/01/28 (Call 02/01/28) |
173 | 145,657 | ||||||
Series A, 3.00%, 03/01/32 (Call 12/01/31) |
190 | 157,719 | ||||||
Series A, 4.05%, 05/15/48 (Call 11/15/47) |
155 | 120,939 | ||||||
Series C, 2.63%, 03/01/31 (Call 12/01/30) |
75 | 61,520 | ||||||
Duke Energy Carolinas LLC |
||||||||
2.45%, 02/01/30 (Call 11/01/29) |
270 | 223,484 | ||||||
2.55%, 04/15/31 (Call 01/15/31) |
29 | 23,550 | ||||||
2.85%, 03/15/32 (Call 12/15/31)(a) |
180 | 147,244 | ||||||
2.95%, 12/01/26 (Call 09/01/26)(a) |
220 | 203,493 | ||||||
3.20%, 08/15/49 (Call 02/15/49) |
140 | 92,229 | ||||||
3.55%, 03/15/52 (Call 09/15/51) |
230 | 160,630 | ||||||
3.70%, 12/01/47 (Call 06/01/47) |
130 | 93,289 | ||||||
3.75%, 06/01/45 (Call 12/01/44) |
192 | 139,532 | ||||||
3.88%, 03/15/46 (Call 09/15/45) |
205 | 152,774 | ||||||
3.95%, 11/15/28 (Call 08/15/28) |
145 | 135,094 | ||||||
3.95%, 03/15/48 (Call 09/15/47) |
192 | 144,730 | ||||||
4.00%, 09/30/42 (Call 03/30/42) |
240 | 186,317 | ||||||
4.25%, 12/15/41 (Call 06/15/41) |
221 | 178,303 | ||||||
5.30%, 02/15/40 |
281 | 261,881 | ||||||
6.00%, 01/15/38 |
102 | 101,831 | ||||||
6.05%, 04/15/38 |
220 | 218,981 | ||||||
Duke Energy Florida LLC |
||||||||
1.75%, 06/15/30 (Call 03/15/30) |
200 | 154,292 | ||||||
2.40%, 12/15/31 (Call 09/15/31)(a) |
295 | 231,678 | ||||||
2.50%, 12/01/29 (Call 09/01/29) |
260 | 216,393 | ||||||
3.00%, 12/15/51 (Call 06/15/51) |
45 | 28,323 | ||||||
3.20%, 01/15/27 (Call 10/15/26) |
217 | 201,317 | ||||||
3.40%, 10/01/46 (Call 04/01/46) |
245 | 165,534 | ||||||
3.80%, 07/15/28 (Call 04/15/28)(a) |
195 | 180,775 | ||||||
6.35%, 09/15/37 |
10 | 10,248 | ||||||
6.40%, 06/15/38 |
260 | 269,350 | ||||||
Duke Energy Indiana LLC |
||||||||
2.75%, 04/01/50 (Call 10/01/49) |
225 | 131,929 | ||||||
3.75%, 05/15/46 (Call 11/15/45) |
180 | 127,755 | ||||||
6.35%, 08/15/38 |
186 | 187,814 | ||||||
Series YYY, 3.25%, 10/01/49 (Call 04/01/49) |
190 | 121,465 | ||||||
Duke Energy Progress LLC |
||||||||
2.00%, 08/15/31 (Call 05/15/31) |
35 | 26,715 | ||||||
2.50%, 08/15/50 (Call 02/15/50) |
238 | 133,775 | ||||||
3.25%, 08/15/25 (Call 05/15/25) |
215 | 205,144 | ||||||
3.40%, 04/01/32 (Call 01/01/32) |
200 | 171,210 | ||||||
3.45%, 03/15/29 (Call 12/15/28) |
170 | 152,497 | ||||||
3.60%, 09/15/47 (Call 03/15/47) |
115 | 81,189 | ||||||
3.70%, 09/01/28 (Call 06/01/28) |
174 | 160,273 | ||||||
4.10%, 05/15/42 (Call 11/15/41) |
220 | 172,132 | ||||||
4.10%, 03/15/43 (Call 09/15/42) |
176 | 137,408 | ||||||
4.15%, 12/01/44 (Call 06/01/44) |
175 | 135,807 | ||||||
4.20%, 08/15/45 (Call 02/15/45) |
195 | 153,005 | ||||||
Entergy Arkansas LLC |
||||||||
2.65%, 06/15/51 (Call 12/15/50) |
272 | 154,656 | ||||||
3.50%, 04/01/26 (Call 01/01/26) |
435 | 411,636 | ||||||
4.20%, 04/01/49 (Call 10/01/48) |
105 | 81,650 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Electric (continued) |
| |||||||
Entergy Louisiana LLC |
||||||||
0.95%, 10/01/24 (Call 12/01/22) |
$ | 100 | $ | 92,270 | ||||
2.35%, 06/15/32 (Call 03/15/32) |
155 | 118,797 | ||||||
2.90%, 03/15/51 (Call 09/15/50) |
160 | 95,845 | ||||||
3.10%, 06/15/41 (Call 12/15/40) |
55 | 37,864 | ||||||
4.00%, 03/15/33 (Call 12/15/32) |
287 | 250,623 | ||||||
4.20%, 09/01/48 (Call 03/01/48) |
128 | 99,105 | ||||||
4.20%, 04/01/50 (Call 10/01/49) |
253 | 192,363 | ||||||
4.75%, 09/15/52 (Call 03/15/52) |
200 | 166,446 | ||||||
Entergy Texas Inc. |
||||||||
1.75%, 03/15/31 (Call 12/15/30) |
225 | 167,814 | ||||||
5.00%, 09/15/52 (Call 03/15/52) |
100 | 84,875 | ||||||
Evergy Kansas Central Inc. |
||||||||
3.45%, 04/15/50 (Call 10/15/49) |
230 | 155,278 | ||||||
4.13%, 03/01/42 (Call 09/01/41) |
221 | 171,852 | ||||||
Florida Power & Light Co. |
||||||||
2.45%, 02/03/32 (Call 11/03/31) |
410 | 330,386 | ||||||
2.85%, 04/01/25 (Call 03/01/25) |
243 | 230,767 | ||||||
2.88%, 12/04/51 (Call 06/04/51) |
125 | 79,449 | ||||||
3.13%, 12/01/25 (Call 06/01/25) |
411 | 388,107 | ||||||
3.15%, 10/01/49 (Call 04/01/49) |
279 | 187,962 | ||||||
3.25%, 06/01/24 (Call 12/01/23) |
76 | 74,132 | ||||||
3.70%, 12/01/47 (Call 06/01/47) |
261 | 193,448 | ||||||
3.95%, 03/01/48 (Call 09/01/47) |
273 | 211,938 | ||||||
3.99%, 03/01/49 (Call 09/01/48) |
220 | 170,768 | ||||||
4.05%, 06/01/42 (Call 12/01/41) |
238 | 191,252 | ||||||
4.05%, 10/01/44 (Call 04/01/44) |
180 | 142,054 | ||||||
4.13%, 02/01/42 (Call 08/01/41) |
237 | 192,506 | ||||||
4.13%, 06/01/48 (Call 12/01/47) |
187 | 148,682 | ||||||
5.69%, 03/01/40 |
200 | 195,280 | ||||||
5.95%, 02/01/38 |
245 | 244,993 | ||||||
5.96%, 04/01/39 |
80 | 80,098 | ||||||
John Sevier Combined Cycle Generation LLC, 4.63%, 01/15/42 |
83 | 77,008 | ||||||
Kentucky Utilities Co. |
||||||||
3.30%, 06/01/50 (Call 12/01/49) |
200 | 131,770 | ||||||
4.38%, 10/01/45 (Call 04/01/45) |
202 | 160,489 | ||||||
5.13%, 11/01/40 (Call 05/01/40) |
189 | 168,414 | ||||||
MidAmerican Energy Co. |
||||||||
2.70%, 08/01/52 (Call 02/01/52) |
215 | 128,828 | ||||||
3.15%, 04/15/50 (Call 10/15/49) |
240 | 156,751 | ||||||
3.50%, 10/15/24 (Call 07/15/24) |
25 | 24,269 | ||||||
3.65%, 04/15/29 (Call 01/15/29) |
308 | 281,364 | ||||||
3.65%, 08/01/48 (Call 02/01/48) |
333 | 242,144 | ||||||
4.25%, 07/15/49 (Call 01/15/49) |
297 | 237,460 | ||||||
National Rural Utilities Cooperative Finance Corp. |
||||||||
0.35%, 02/08/24 |
5 | 4,711 | ||||||
1.00%, 06/15/26 (Call 05/15/26) |
48 | 41,541 | ||||||
1.88%, 02/07/25 |
325 | 303,043 | ||||||
2.40%, 03/15/30 (Call 12/15/29) |
140 | 113,578 | ||||||
2.75%, 04/15/32 (Call 01/15/32) |
105 | 84,351 | ||||||
2.85%, 01/27/25 (Call 10/27/24) |
104 | 98,970 | ||||||
3.40%, 02/07/28 (Call 11/07/27) |
248 | 226,541 | ||||||
4.02%, 11/01/32 (Call 05/01/32) |
223 | 197,056 | ||||||
4.15%, 12/15/32 (Call 09/15/32) |
165 | 147,964 | ||||||
4.30%, 03/15/49 (Call 09/15/48) |
137 | 107,486 | ||||||
5.45%, 10/30/25 |
150 | 150,768 | ||||||
5.80%, 01/15/33 |
150 | 152,114 |
Security |
Par (000) |
Value | ||||||
Electric (continued) |
| |||||||
Nevada Power Co. |
||||||||
5.90%, 05/01/53 |
$ | 25 | $ | 24,710 | ||||
Series CC, 3.70%, 05/01/29 (Call 02/01/29) |
85 | 76,628 | ||||||
Northern States Power Co./MN |
||||||||
2.60%, 06/01/51 (Call 12/01/50) |
225 | 133,886 | ||||||
2.90%, 03/01/50 (Call 09/01/49) |
243 | 154,813 | ||||||
3.40%, 08/15/42 (Call 02/15/42)(a) |
54 | 39,621 | ||||||
3.60%, 09/15/47 (Call 03/15/47) |
253 | 181,629 | ||||||
4.50%, 06/01/52 (Call 12/01/51) |
125 | 105,326 | ||||||
NSTAR Electric Co., 3.20%, 05/15/27 (Call 02/15/27) |
415 | 381,742 | ||||||
Ohio Power Co., Series R, 2.90%, 10/01/51 (Call 04/01/51) |
245 | 146,628 | ||||||
Oncor Electric Delivery Co. LLC |
||||||||
2.75%, 05/15/30 (Call 02/15/30) |
130 | 109,568 | ||||||
3.10%, 09/15/49 (Call 03/15/49) |
274 | 180,128 | ||||||
3.70%, 11/15/28 (Call 08/15/28) |
135 | 124,218 | ||||||
3.75%, 04/01/45 (Call 10/01/44) |
303 | 226,047 | ||||||
4.55%, 09/15/32 (Call 06/15/32)(c) |
125 | 118,031 | ||||||
4.95%, 09/15/52 (Call 03/15/52)(c) |
125 | 112,359 | ||||||
PacifiCorp |
||||||||
2.90%, 06/15/52 (Call 12/15/51) |
245 | 149,465 | ||||||
3.30%, 03/15/51 (Call 09/15/50) |
105 | 69,475 | ||||||
4.13%, 01/15/49 (Call 07/15/48) |
262 | 199,961 | ||||||
4.15%, 02/15/50 (Call 08/15/49) |
144 | 110,251 | ||||||
5.75%, 04/01/37 |
172 | 164,222 | ||||||
6.00%, 01/15/39 |
260 | 254,730 | ||||||
6.25%, 10/15/37 |
145 | 145,339 | ||||||
PECO Energy Co. |
||||||||
3.90%, 03/01/48 (Call 09/01/47) |
122 | 92,415 | ||||||
4.38%, 08/15/52 (Call 02/15/52) |
110 | 89,965 | ||||||
Potomac Electric Power Co. |
||||||||
4.15%, 03/15/43 (Call 09/15/42) |
245 | 193,089 | ||||||
6.50%, 11/15/37 |
170 | 177,341 | ||||||
Public Service Co. of Colorado |
||||||||
1.88%, 06/15/31 (Call 12/15/30) |
155 | 119,471 | ||||||
3.60%, 09/15/42 (Call 03/15/42) |
129 | 95,237 | ||||||
Series 34, 3.20%, 03/01/50 (Call 09/01/49) |
205 | 136,817 | ||||||
Public Service Electric & Gas Co. |
||||||||
3.10%, 03/15/32 (Call 12/15/31)(a) |
200 | 168,180 | ||||||
3.80%, 03/01/46 (Call 09/01/45) |
203 | 151,442 | ||||||
Puget Sound Energy Inc., 4.22%, 06/15/48 (Call 12/15/47) |
195 | 151,763 | ||||||
San Diego Gas & Electric Co. |
||||||||
2.50%, 05/15/26 (Call 02/15/26) |
387 | 353,045 | ||||||
3.70%, 03/15/52 (Call 09/15/51)(a) |
200 | 144,228 | ||||||
4.50%, 08/15/40(a) |
160 | 133,766 | ||||||
Series VVV, 1.70%, 10/01/30 (Call 07/01/30) |
261 | 199,628 | ||||||
Series WWW, 2.95%, 08/15/51 (Call 02/15/51) |
240 | 151,116 | ||||||
Series XXX, 3.00%, 03/15/32 (Call 12/15/31) |
135 | 110,909 | ||||||
Southern California Edison Co. |
||||||||
1.10%, 04/01/24 (Call 04/01/23) |
25 | 23,530 | ||||||
2.25%, 06/01/30 (Call 03/01/30) |
215 | 169,426 | ||||||
2.75%, 02/01/32 (Call 11/01/31)(a) |
185 | 145,806 | ||||||
2.85%, 08/01/29 (Call 05/01/29) |
62 | 51,905 | ||||||
3.45%, 02/01/52 (Call 08/01/51) |
260 | 170,045 | ||||||
3.65%, 02/01/50 (Call 08/01/49) |
142 | 95,360 | ||||||
4.00%, 04/01/47 (Call 10/01/46) |
569 | 407,643 | ||||||
4.50%, 09/01/40 (Call 03/01/40) |
195 | 155,142 | ||||||
4.65%, 10/01/43 (Call 04/01/43)(a) |
219 | 175,334 | ||||||
5.50%, 03/15/40 |
194 | 173,422 | ||||||
6.00%, 01/15/34 |
170 | 166,297 | ||||||
6.05%, 03/15/39 |
186 | 179,012 |
56 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Electric (continued) |
| |||||||
Series 08-A, 5.95%, 02/01/38 |
$ | 235 | $ | 223,201 | ||||
Series 20A, 2.95%, 02/01/51 (Call 08/01/50) |
280 | 164,755 | ||||||
Series A, 4.20%, 03/01/29 (Call 12/01/28) |
74 | 68,127 | ||||||
Series B, 4.88%, 03/01/49 (Call 09/01/48) |
215 | 173,026 | ||||||
Series C, 4.13%, 03/01/48 (Call 09/01/47) |
430 | 313,706 | ||||||
Series D, 4.70%, 06/01/27 (Call 05/01/27) |
85 | 82,409 | ||||||
Series E, 3.70%, 08/01/25 (Call 06/01/25) |
197 | 189,134 | ||||||
Southwestern Public Service Co., Series 8, 3.15%, 05/01/50 (Call 11/01/49) |
250 | 162,040 | ||||||
Union Electric Co. |
||||||||
2.15%, 03/15/32 (Call 12/15/31) |
255 | 195,011 | ||||||
2.63%, 03/15/51 (Call 09/15/50) |
170 | 98,836 | ||||||
3.90%, 04/01/52 (Call 10/01/51) |
155 | 116,837 | ||||||
Virginia Electric & Power Co. |
||||||||
2.30%, 11/15/31 (Call 08/15/31) |
215 | 168,812 | ||||||
2.40%, 03/30/32 (Call 12/30/31) |
220 | 173,030 | ||||||
2.45%, 12/15/50 (Call 06/15/50) |
303 | 170,707 | ||||||
2.95%, 11/15/51 (Call 05/15/51) |
100 | 61,974 | ||||||
3.30%, 12/01/49 (Call 06/01/49) |
217 | 145,410 | ||||||
4.00%, 01/15/43 (Call 07/15/42) |
250 | 190,177 | ||||||
4.45%, 02/15/44 (Call 08/15/43) |
111 | 89,378 | ||||||
4.60%, 12/01/48 (Call 06/01/48) |
174 | 143,103 | ||||||
8.88%, 11/15/38 |
236 | 294,589 | ||||||
Series A, 2.88%, 07/15/29 (Call 04/15/29) |
210 | 180,369 | ||||||
Series A, 3.15%, 01/15/26 (Call 10/15/25) |
430 | 402,071 | ||||||
Series A, 3.50%, 03/15/27 (Call 12/15/26) |
285 | 265,671 | ||||||
Series A, 3.80%, 04/01/28 (Call 01/01/28)(a) |
315 | 293,303 | ||||||
Series A, 6.00%, 05/15/37 |
232 | 228,928 | ||||||
Series B, 3.75%, 05/15/27 (Call 04/15/27) |
135 | 126,700 | ||||||
Series B, 3.80%, 09/15/47 (Call 03/15/47) |
230 | 167,525 | ||||||
Series B, 6.00%, 01/15/36 |
95 | 94,545 | ||||||
Series C, 4.00%, 11/15/46 (Call 05/15/46) |
180 | 135,378 | ||||||
Series C, 4.63%, 05/15/52 (Call 11/15/51) |
245 | 203,568 | ||||||
Series D, 4.65%, 08/15/43 (Call 02/15/43) |
165 | 137,044 | ||||||
Wisconsin Electric Power Co., 4.75%, 09/30/32 (Call 06/30/32) |
50 | 47,634 | ||||||
Wisconsin Power and Light Co., 3.95%, 09/01/32 (Call 06/01/32) |
305 | 270,416 | ||||||
|
|
|||||||
42,317,737 | ||||||||
Electrical Components & Equipment — 0.2% | ||||||||
Emerson Electric Co. |
||||||||
0.88%, 10/15/26 (Call 09/15/26) |
162 | 138,103 | ||||||
1.80%, 10/15/27 (Call 08/15/27) |
127 | 108,962 | ||||||
1.95%, 10/15/30 (Call 07/15/30) |
120 | 94,346 | ||||||
2.00%, 12/21/28 (Call 10/21/28) |
315 | 262,584 | ||||||
2.20%, 12/21/31 (Call 09/21/31)(a) |
450 | 353,786 | ||||||
2.75%, 10/15/50 (Call 04/15/50) |
137 | 84,118 | ||||||
2.80%, 12/21/51 (Call 06/21/51) |
390 | 239,991 | ||||||
3.15%, 06/01/25 (Call 03/01/25) |
90 | 86,019 | ||||||
|
|
|||||||
1,367,909 | ||||||||
Electronics — 0.5% | ||||||||
Honeywell International Inc. |
||||||||
1.10%, 03/01/27 (Call 02/01/27) |
470 | 403,721 | ||||||
1.35%, 06/01/25 (Call 05/01/25) |
338 | 310,226 | ||||||
1.75%, 09/01/31 (Call 06/01/31)(a) |
540 | 418,138 | ||||||
1.95%, 06/01/30 (Call 03/01/30) |
241 | 195,499 | ||||||
2.30%, 08/15/24 (Call 07/15/24) |
494 | 473,089 | ||||||
2.50%, 11/01/26 (Call 08/01/26) |
569 | 520,595 | ||||||
2.70%, 08/15/29 (Call 05/15/29)(a) |
335 | 291,979 |
Security |
Par (000) |
Value | ||||||
Electronics (continued) |
||||||||
2.80%, 06/01/50 (Call 12/01/49) |
$ | 279 | $ | 187,918 | ||||
4.85%, 11/01/24 |
300 | 299,982 | ||||||
4.95%, 02/15/28 |
300 | 299,616 | ||||||
5.00%, 02/15/33 |
300 | 297,387 | ||||||
Tyco Electronics Group SA, 2.50%, 02/04/32 (Call 12/04/31) |
290 | 231,249 | ||||||
|
|
|||||||
3,929,399 | ||||||||
Food — 0.2% | ||||||||
Hershey Co. (The), 2.30%, 08/15/26 (Call 05/15/26) |
270 | 245,430 | ||||||
Hormel Foods Corp. |
||||||||
0.65%, 06/03/24 (Call 12/01/22) |
345 | 322,285 | ||||||
1.70%, 06/03/28 (Call 04/03/28) |
375 | 315,746 | ||||||
1.80%, 06/11/30 (Call 03/11/30) |
331 | 263,182 | ||||||
3.05%, 06/03/51 (Call 12/03/50) |
300 | 195,753 | ||||||
Walmart Inc., 3.90%, 09/09/25 |
150 | 147,210 | ||||||
|
|
|||||||
1,489,606 | ||||||||
Forest Products & Paper — 0.0% | ||||||||
Georgia-Pacific LLC, 7.75%, 11/15/29 |
186 | 206,307 | ||||||
|
|
|||||||
Gas — 0.3% | ||||||||
Atmos Energy Corp. |
||||||||
1.50%, 01/15/31 (Call 10/15/30) |
252 | 187,795 | ||||||
2.63%, 09/15/29 (Call 06/15/29) |
120 | 101,186 | ||||||
2.85%, 02/15/52 (Call 08/15/51)(a) |
225 | 135,619 | ||||||
3.00%, 06/15/27 (Call 03/15/27) |
222 | 202,266 | ||||||
3.38%, 09/15/49 (Call 03/15/49) |
208 | 140,377 | ||||||
4.13%, 10/15/44 (Call 04/15/44) |
104 | 80,545 | ||||||
4.15%, 01/15/43 (Call 07/15/42) |
230 | 181,288 | ||||||
4.30%, 10/01/48 (Call 04/01/48) |
235 | 185,901 | ||||||
5.75%, 10/15/52 (Call 04/15/52)(a) |
100 | 97,368 | ||||||
CenterPoint Energy Resources Corp. |
||||||||
1.75%, 10/01/30 (Call 07/01/30) |
130 | 99,007 | ||||||
4.40%, 07/01/32 (Call 04/01/32)(a) |
245 | 225,991 | ||||||
Southern California Gas Co. |
||||||||
2.95%, 04/15/27 (Call 03/15/27) |
235 | 212,464 | ||||||
3.15%, 09/15/24 (Call 06/15/24) |
270 | 260,480 | ||||||
Series TT, 2.60%, 06/15/26 (Call 03/15/26) |
314 | 285,963 | ||||||
Series VV, 4.30%, 01/15/49 (Call 07/15/48) |
114 | 86,624 | ||||||
Series XX, 2.55%, 02/01/30 (Call 11/01/29) |
226 | 186,846 | ||||||
|
|
|||||||
2,669,720 | ||||||||
Hand & Machine Tools — 0.2% | ||||||||
Snap-on Inc., 3.10%, 05/01/50 (Call 11/01/49) |
108 | 72,607 | ||||||
Stanley Black & Decker Inc. |
||||||||
2.30%, 02/24/25 (Call 02/24/23) |
270 | 253,622 | ||||||
2.30%, 03/15/30 (Call 12/15/29) |
242 | 194,314 | ||||||
2.75%, 11/15/50 (Call 05/15/50) |
257 | 147,379 | ||||||
3.00%, 05/15/32 (Call 02/15/32)(a) |
195 | 158,046 | ||||||
3.40%, 03/01/26 (Call 01/01/26) |
261 | 245,134 | ||||||
4.25%, 11/15/28 (Call 08/15/28) |
30 | 28,223 | ||||||
4.85%, 11/15/48 (Call 05/15/48)(a) |
180 | 150,496 | ||||||
|
|
|||||||
1,249,821 | ||||||||
Health Care - Products — 1.0% | ||||||||
Abbott Laboratories |
||||||||
1.15%, 01/30/28 (Call 11/30/27)(a) |
324 | 269,169 | ||||||
1.40%, 06/30/30 (Call 03/30/30) |
288 | 222,682 | ||||||
2.95%, 03/15/25 (Call 12/15/24)(a) |
593 | 568,586 | ||||||
3.75%, 11/30/26 (Call 08/30/26) |
772 | 741,892 | ||||||
4.75%, 11/30/36 (Call 05/30/36) |
447 | 427,363 | ||||||
4.75%, 04/15/43 (Call 10/15/42) |
213 | 192,752 | ||||||
4.90%, 11/30/46 (Call 05/30/46) |
911 | 849,025 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Health Care - Products (continued) | ||||||||
5.30%, 05/27/40 |
$ | 252 | $ | 247,341 | ||||
6.00%, 04/01/39 |
255 | 264,489 | ||||||
6.15%, 11/30/37(a) |
165 | 176,675 | ||||||
Danaher Corp. |
||||||||
2.60%, 10/01/50 (Call 04/01/50) |
200 | 120,048 | ||||||
2.80%, 12/10/51 (Call 06/10/51) |
400 | 249,376 | ||||||
DH Europe Finance II Sarl |
||||||||
2.20%, 11/15/24 (Call 10/15/24) |
45 | 42,475 | ||||||
3.25%, 11/15/39 (Call 05/15/39) |
300 | 223,761 | ||||||
3.40%, 11/15/49 (Call 05/15/49) |
265 | 186,237 | ||||||
Medtronic Inc. |
||||||||
4.38%, 03/15/35 |
597 | 547,067 | ||||||
4.63%, 03/15/45 |
352 | 309,316 | ||||||
Thermo Fisher Scientific Inc. |
||||||||
1.22%, 10/18/24 (Call 12/01/22) |
915 | 851,929 | ||||||
1.75%, 10/15/28 (Call 08/15/28) |
390 | 324,913 | ||||||
2.00%, 10/15/31 (Call 07/15/31) |
470 | 368,781 | ||||||
2.60%, 10/01/29 (Call 07/01/29) |
95 | 81,412 | ||||||
2.80%, 10/15/41 (Call 04/15/41) |
385 | 265,415 | ||||||
4.10%, 08/15/47 (Call 02/15/47) |
200 | 163,060 | ||||||
|
|
|||||||
7,693,764 | ||||||||
Health Care - Services — 2.6% | ||||||||
Ascension Health |
||||||||
3.95%, 11/15/46 |
507 | 396,814 | ||||||
Series B, 2.53%, 11/15/29 (Call 08/15/29) |
242 | 201,700 | ||||||
Series B, 3.11%, 11/15/39 (Call 05/15/39) |
85 | 61,087 | ||||||
BayCare Health System Inc., Series 2020, 3.83%, 11/15/50 (Call 05/15/50)(a) |
279 | 212,392 | ||||||
Baylor Scott & White Holdings, Series 2021, 2.84%, 11/15/50 (Call 11/15/49) |
270 | 161,978 | ||||||
Children’s Hospital of Philadelphia (The), Series 2020, 2.70%, 07/01/50 (Call 01/01/50) |
210 | 121,664 | ||||||
CommonSpirit Health |
||||||||
2.78%, 10/01/30 (Call 04/01/30) |
200 | 155,264 | ||||||
3.35%, 10/01/29 (Call 04/01/29) |
200 | 167,946 | ||||||
3.82%, 10/01/49 (Call 04/01/49)(a) |
317 | 217,269 | ||||||
3.91%, 10/01/50 (Call 04/01/50) |
200 | 134,196 | ||||||
4.19%, 10/01/49 (Call 04/01/49) |
200 | 141,426 | ||||||
6.07%, 11/01/27 |
300 | 300,321 | ||||||
Cottage Health Obligated Group, Series 2020, 3.30%, 11/01/49 (Call 05/01/49)(a) |
310 | 204,932 | ||||||
Duke University Health System Inc., Series 2017, 3.92%, 06/01/47 (Call 12/01/46) |
85 | 64,144 | ||||||
Hackensack Meridian Health Inc. |
||||||||
Series 2020, 2.68%, 09/01/41 (Call 03/01/41) |
205 | 131,013 | ||||||
Series 2020, 2.88%, 09/01/50 (Call 03/01/50) |
155 | 91,986 | ||||||
Hoag Memorial Hospital Presbyterian, 3.80%, 07/15/52 (Call 01/15/52) |
160 | 116,973 | ||||||
Johns Hopkins Health System Corp. (The), 3.84%, 05/15/46 |
121 | 90,883 | ||||||
Kaiser Foundation Hospitals |
||||||||
3.15%, 05/01/27 (Call 02/01/27) |
37 | 33,898 | ||||||
4.15%, 05/01/47 (Call 11/01/46) |
402 | 316,828 | ||||||
4.88%, 04/01/42 |
215 | 193,603 | ||||||
Series 2019, 3.27%, 11/01/49 (Call 05/01/49) |
240 | 158,700 | ||||||
Series 2021, 2.81%, 06/01/41 (Call 12/01/40) |
500 | 335,095 | ||||||
Series 2021, 3.00%, 06/01/51 (Call 12/01/50) |
405 | 249,901 | ||||||
Mass General Brigham Inc., Series 2020, 3.34%, 07/01/60 (Call 01/01/60) |
254 | 156,743 | ||||||
Mayo Clinic, Series 2021, 3.20%, 11/15/61 (Call 05/15/61) |
150 | 92,064 |
Security | Par (000) |
Value | ||||||
Health Care - Services (continued) | ||||||||
Memorial
Sloan-Kettering Cancer Center,
Series 2015, |
$ | 155 | $ | 119,087 | ||||
Methodist Hospital (The), Series 20A, 2.71%, 12/01/50 (Call 06/01/50) |
205 | 117,408 | ||||||
Mount Sinai Hospitals Group Inc., Series 2019, 3.74%, 07/01/49 (Call 01/01/49) |
225 | 156,337 | ||||||
New York and Presbyterian Hospital (The) 4.02%, 08/01/45 |
266 | 208,414 | ||||||
Series 2019, 3.95%, 08/01/2119 (Call 02/01/2119) |
100 | 63,661 | ||||||
Northwell Healthcare Inc. |
||||||||
3.98%, 11/01/46 (Call 11/01/45) |
295 | 210,485 | ||||||
4.26%, 11/01/47 (Call 11/01/46) |
228 | 168,875 | ||||||
Novant Health Inc., 3.17%, 11/01/51 (Call 05/01/51) |
326 | 207,577 | ||||||
Providence St Joseph Health Obligated Group |
||||||||
Series 19A, 2.53%, 10/01/29 (Call 07/01/29) |
46 | 37,578 | ||||||
Series 21A, 2.70%, 10/01/51 (Call 04/01/51) |
130 | 69,568 | ||||||
SSM Health Care Corp., Series A, 3.82%, 06/01/27 (Call 03/01/27) |
50 | 46,684 | ||||||
Stanford Health Care, Series 2018, 3.80%, 11/15/48 (Call 05/15/48) |
260 | 194,111 | ||||||
Sutter Health |
||||||||
Series 20A, 2.29%, 08/15/30 (Call 02/15/30) |
195 | 153,414 | ||||||
Series 20A, 3.36%, 08/15/50 (Call 02/15/50) |
59 | 37,838 | ||||||
Toledo Hospital (The), 5.75%, 11/15/38 (Call 11/15/28) |
211 | 184,946 | ||||||
UnitedHealth Group Inc. |
||||||||
3.70%, 05/15/27 (Call 04/15/27) |
220 | 208,124 | ||||||
1.15%, 05/15/26 (Call 04/15/26)(a) |
225 | 198,454 | ||||||
1.25%, 01/15/26(a) |
226 | 200,880 | ||||||
2.00%, 05/15/30 |
465 | 373,255 | ||||||
2.30%, 05/15/31 (Call 02/15/31)(a) |
417 | 334,217 | ||||||
2.38%, 08/15/24 |
190 | 181,752 | ||||||
2.75%, 05/15/40 (Call 11/15/39) |
332 | 227,762 | ||||||
2.88%, 08/15/29 |
380 | 329,585 | ||||||
2.90%, 05/15/50 (Call 11/15/49) |
460 | 294,018 | ||||||
2.95%, 10/15/27 |
271 | 245,334 | ||||||
3.05%, 05/15/41 (Call 11/15/40) |
575 | 407,307 | ||||||
3.10%, 03/15/26 |
456 | 429,050 | ||||||
3.13%, 05/15/60 (Call 11/15/59)(a) |
490 | 303,555 | ||||||
3.25%, 05/15/51 (Call 11/15/50) |
527 | 357,585 | ||||||
3.38%, 04/15/27 |
145 | 135,340 | ||||||
3.45%, 01/15/27 |
36 | 33,812 | ||||||
3.50%, 02/15/24 |
230 | 226,235 | ||||||
3.50%, 08/15/39 (Call 02/15/39) |
385 | 296,030 | ||||||
3.70%, 08/15/49 (Call 02/15/49) |
447 | 330,467 | ||||||
3.75%, 07/15/25 |
225 | 218,468 | ||||||
3.75%, 10/15/47 (Call 04/15/47) |
294 | 221,020 | ||||||
3.85%, 06/15/28 |
432 | 402,166 | ||||||
3.88%, 12/15/28 |
289 | 268,839 | ||||||
3.88%, 08/15/59 (Call 02/15/59) |
295 | 215,067 | ||||||
3.95%, 10/15/42 (Call 04/15/42) |
243 | 191,618 | ||||||
4.00%, 05/15/29 (Call 03/15/29) |
335 | 311,560 | ||||||
4.20%, 05/15/32 (Call 02/15/32) |
545 | 502,539 | ||||||
4.20%, 01/15/47 (Call 07/15/46) |
297 | 240,956 | ||||||
4.25%, 03/15/43 (Call 09/15/42) |
255 | 211,155 | ||||||
4.25%, 04/15/47 (Call 10/15/46) |
298 | 242,950 | ||||||
4.25%, 06/15/48 (Call 12/15/47) |
480 | 389,837 | ||||||
4.38%, 03/15/42 (Call 09/15/41) |
255 | 214,649 | ||||||
4.45%, 12/15/48 (Call 06/15/48) |
408 | 340,133 | ||||||
4.63%, 07/15/35 |
247 | 226,482 | ||||||
4.63%, 11/15/41 (Call 05/15/41) |
149 | 129,082 |
58 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Health Care - Services (continued) | ||||||||
4.75%, 07/15/45 |
$ | 705 | $ | 617,700 | ||||
4.75%, 05/15/52 (Call 11/15/51)(a) |
735 | 643,228 | ||||||
4.95%, 05/15/62 (Call 11/15/61) |
375 | 330,604 | ||||||
5.00%, 10/15/24 |
100 | 100,037 | ||||||
5.15%, 10/15/25 |
50 | 50,107 | ||||||
5.25%, 02/15/28 |
75 | 75,181 | ||||||
5.30%, 02/15/30(a) |
100 | 100,005 | ||||||
5.35%, 02/15/33(a) |
600 | 602,220 | ||||||
5.80%, 03/15/36 |
315 | 318,377 | ||||||
5.88%, 02/15/53 |
440 | 449,610 | ||||||
6.05%, 02/15/63(a) |
320 | 329,248 | ||||||
6.50%, 06/15/37 |
182 | 194,906 | ||||||
6.63%, 11/15/37 |
164 | 177,609 | ||||||
6.88%, 02/15/38 |
370 | 405,653 | ||||||
|
|
|||||||
20,318,571 | ||||||||
Household Products & Wares — 0.2% | ||||||||
Kimberly-Clark Corp. |
||||||||
1.05%, 09/15/27 (Call 07/15/27)(a) |
200 | 166,986 | ||||||
2.00%, 11/02/31 (Call 08/02/31)(a) |
90 | 70,295 | ||||||
2.88%, 02/07/50 (Call 08/07/49)(a) |
221 | 142,125 | ||||||
3.10%, 03/26/30 (Call 12/26/29) |
235 | 205,759 | ||||||
3.20%, 04/25/29 (Call 01/25/29) |
215 | 191,939 | ||||||
3.20%, 07/30/46 (Call 01/30/46) |
244 | 166,196 | ||||||
3.95%, 11/01/28 (Call 08/01/28)(a) |
280 | 263,620 | ||||||
6.63%, 08/01/37 |
246 | 269,345 | ||||||
|
|
|||||||
1,476,265 | ||||||||
Insurance — 2.9% | ||||||||
Aflac Inc. |
||||||||
3.60%, 04/01/30 (Call 01/01/30) |
448 | 398,053 | ||||||
4.75%, 01/15/49 (Call 07/15/48) |
38 | 31,430 | ||||||
Allstate Corp. (The) |
||||||||
0.75%, 12/15/25 (Call 11/15/25) |
151 | 131,027 | ||||||
1.45%, 12/15/30 (Call 09/15/30)(a) |
330 | 242,510 | ||||||
3.28%, 12/15/26 (Call 09/15/26) |
215 | 199,984 | ||||||
3.85%, 08/10/49 (Call 02/10/49) |
161 | 116,894 | ||||||
4.20%, 12/15/46 (Call 06/15/46) |
266 | 207,991 | ||||||
4.50%, 06/15/43 |
155 | 127,943 | ||||||
5.55%, 05/09/35 |
225 | 220,885 | ||||||
Berkshire Hathaway Finance Corp. |
||||||||
1.45%, 10/15/30 (Call 07/15/30)(a) |
107 | 82,039 | ||||||
1.85%, 03/12/30 (Call 12/12/29) |
275 | 220,151 | ||||||
2.30%, 03/15/27 (Call 02/15/27)(a) |
550 | 497,046 | ||||||
2.50%, 01/15/51 (Call 07/15/50) |
420 | 239,299 | ||||||
2.85%, 10/15/50 (Call 04/15/50) |
687 | 422,704 | ||||||
2.88%, 03/15/32 (Call 12/15/31) |
350 | 291,225 | ||||||
3.85%, 03/15/52 (Call 09/15/51) |
690 | 507,247 | ||||||
4.20%, 08/15/48 (Call 02/15/48)(a) |
501 | 404,031 | ||||||
4.25%, 01/15/49 (Call 07/15/48) |
622 | 507,963 | ||||||
4.30%, 05/15/43 |
163 | 134,576 | ||||||
4.40%, 05/15/42(a) |
295 | 252,051 | ||||||
5.75%, 01/15/40(a) |
332 | 335,038 | ||||||
Berkshire Hathaway Inc. |
||||||||
3.13%, 03/15/26 (Call 12/15/25) |
563 | 533,583 | ||||||
4.50%, 02/11/43 |
372 | 324,745 | ||||||
Chubb Corp. (The) |
||||||||
6.00%, 05/11/37 |
318 | 325,902 | ||||||
Series 1, 6.50%, 05/15/38 |
75 | 79,090 | ||||||
Chubb INA Holdings Inc. |
||||||||
1.38%, 09/15/30 (Call 06/15/30)(a) |
490 | 364,879 |
Security | Par (000) |
Value | ||||||
Insurance (continued) | ||||||||
2.85%, 12/15/51 (Call 06/15/51) |
$ | 175 | $ | 107,210 | ||||
3.05%, 12/15/61 (Call 06/15/61) |
430 | 255,123 | ||||||
3.15%, 03/15/25 |
582 | 556,142 | ||||||
3.35%, 05/15/24 |
300 | 291,720 | ||||||
3.35%, 05/03/26 (Call 02/03/26) |
360 | 338,969 | ||||||
4.35%, 11/03/45 (Call 05/03/45) |
530 | 431,420 | ||||||
Loews Corp. |
||||||||
3.20%, 05/15/30 (Call 02/15/30) |
283 | 240,748 | ||||||
3.75%, 04/01/26 (Call 01/01/26) |
180 | 172,937 | ||||||
4.13%, 05/15/43 (Call 11/15/42) |
186 | 139,480 | ||||||
Manulife Financial Corp. |
||||||||
2.48%, 05/19/27 (Call 03/19/27) |
59 | 52,338 | ||||||
4.15%, 03/04/26 |
249 | 239,615 | ||||||
5.38%, 03/04/46 |
222 | 201,469 | ||||||
Marsh & McLennan Companies Inc. |
||||||||
2.25%, 11/15/30 (Call 08/15/30) |
270 | 212,628 | ||||||
3.50%, 06/03/24 (Call 03/03/24) |
281 | 273,174 | ||||||
3.50%, 03/10/25 (Call 12/10/24) |
270 | 259,343 | ||||||
3.75%, 03/14/26 (Call 12/14/25) |
204 | 194,218 | ||||||
3.88%, 03/15/24 (Call 02/15/24) |
283 | 277,999 | ||||||
4.20%, 03/01/48 (Call 09/01/47) |
195 | 149,384 | ||||||
4.35%, 01/30/47 (Call 07/30/46) |
148 | 115,518 | ||||||
4.38%, 03/15/29 (Call 12/15/28) |
654 | 617,716 | ||||||
4.75%, 03/15/39 (Call 09/15/38) |
164 | 141,120 | ||||||
4.90%, 03/15/49 (Call 09/15/48) |
403 | 343,586 | ||||||
6.25%, 11/01/52 |
100 | 102,146 | ||||||
MetLife Inc. |
||||||||
3.00%, 03/01/25 |
370 | 353,239 | ||||||
3.60%, 04/10/24 |
103 | 100,730 | ||||||
3.60%, 11/13/25 (Call 08/13/25) |
222 | 213,020 | ||||||
4.05%, 03/01/45 |
219 | 168,483 | ||||||
4.13%, 08/13/42 |
406 | 319,579 | ||||||
4.55%, 03/23/30 (Call 12/23/29)(a) |
490 | 466,054 | ||||||
4.60%, 05/13/46 (Call 11/13/45) |
215 | 179,095 | ||||||
4.88%, 11/13/43 |
280 | 241,228 | ||||||
5.00%, 07/15/52 (Call 01/15/52) |
300 | 261,876 | ||||||
5.70%, 06/15/35 |
376 | 371,890 | ||||||
5.88%, 02/06/41 |
130 | 124,635 | ||||||
6.38%, 06/15/34 |
324 | 339,426 | ||||||
6.50%, 12/15/32 |
131 | 137,456 | ||||||
PartnerRe Finance B LLC, 3.70%, 07/02/29 (Call 04/02/29) |
60 | 52,577 | ||||||
Principal Financial Group Inc. |
||||||||
2.13%, 06/15/30 (Call 03/15/30) |
286 | 221,802 | ||||||
3.70%, 05/15/29 (Call 02/15/29) |
265 | 235,100 | ||||||
6.05%, 10/15/36 |
175 | 171,148 | ||||||
Progressive Corp. (The) |
||||||||
2.45%, 01/15/27(a) |
171 | 153,685 | ||||||
2.50%, 03/15/27 (Call 02/15/27) |
160 | 142,883 | ||||||
3.00%, 03/15/32 (Call 12/15/31) |
150 | 124,065 | ||||||
3.20%, 03/26/30 (Call 12/26/29) |
329 | 284,565 | ||||||
3.70%, 03/15/52 (Call 09/15/51) |
200 | 141,806 | ||||||
3.95%, 03/26/50 (Call 09/26/49) |
53 | 39,330 | ||||||
4.00%, 03/01/29 (Call 12/01/28) |
310 | 288,173 | ||||||
4.13%, 04/15/47 (Call 10/15/46) |
283 | 220,876 | ||||||
4.20%, 03/15/48 (Call 09/15/47) |
240 | 188,294 | ||||||
Prudential Financial Inc. |
||||||||
1.50%, 03/10/26 (Call 02/10/26)(a) |
225 | 199,501 | ||||||
2.10%, 03/10/30 (Call 12/10/29) |
240 | 190,279 | ||||||
3.00%, 03/10/40 (Call 09/10/39)(a) |
141 | 96,650 | ||||||
3.70%, 03/13/51 (Call 09/13/50) |
602 | 426,914 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Insurance (continued) | ||||||||
3.91%, 12/07/47 (Call 06/07/47) |
$ | 248 | $ | 182,987 | ||||
3.94%, 12/07/49 (Call 06/07/49) |
213 | 156,491 | ||||||
4.35%, 02/25/50 (Call 08/25/49) |
393 | 310,993 | ||||||
4.60%, 05/15/44(a) |
208 | 171,825 | ||||||
5.70%, 12/14/36 |
290 | 283,365 | ||||||
Prudential PLC, 3.13%, 04/14/30 |
140 | 114,846 | ||||||
Travelers Companies Inc. (The) |
||||||||
2.55%, 04/27/50 (Call 10/27/49) |
160 | 92,166 | ||||||
3.05%, 06/08/51 (Call 12/08/50)(a) |
215 | 136,817 | ||||||
3.75%, 05/15/46 (Call 11/15/45) |
158 | 116,493 | ||||||
4.00%, 05/30/47 (Call 11/30/46) |
72 | 54,739 | ||||||
4.05%, 03/07/48 (Call 09/07/47) |
149 | 113,829 | ||||||
4.10%, 03/04/49 (Call 09/04/48) |
150 | 115,335 | ||||||
4.60%, 08/01/43 |
125 | 104,703 | ||||||
5.35%, 11/01/40 |
415 | 390,905 | ||||||
6.25%, 06/15/37 |
289 | 300,543 | ||||||
Travelers Property Casualty Corp., 6.38%, 03/15/33 |
188 | 198,913 | ||||||
|
|
|||||||
22,211,598 | ||||||||
Internet — 3.4% | ||||||||
Alibaba Group Holding Ltd. |
||||||||
2.13%, 02/09/31 (Call 11/09/30) |
400 | 287,960 | ||||||
2.70%, 02/09/41 (Call 08/09/40)(a) |
320 | 166,762 | ||||||
3.15%, 02/09/51 (Call 08/09/50) |
425 | 207,030 | ||||||
3.25%, 02/09/61 (Call 08/09/60) |
370 | 171,650 | ||||||
3.40%, 12/06/27 (Call 09/06/27)(a) |
895 | 769,082 | ||||||
3.60%, 11/28/24 (Call 08/28/24) |
735 | 697,155 | ||||||
4.00%, 12/06/37 (Call 06/06/37) |
230 | 157,734 | ||||||
4.20%, 12/06/47 (Call 06/06/47)(a) |
630 | 385,037 | ||||||
4.40%, 12/06/57 (Call 06/06/57) |
355 | 211,388 | ||||||
4.50%, 11/28/34 (Call 05/28/34) |
200 | 154,544 | ||||||
Alphabet Inc. |
||||||||
0.45%, 08/15/25 (Call 07/15/25) |
510 | 455,869 | ||||||
0.80%, 08/15/27 (Call 06/15/27)(a) |
430 | 362,129 | ||||||
1.10%, 08/15/30 (Call 05/15/30)(a) |
420 | 322,787 | ||||||
1.90%, 08/15/40 (Call 02/15/40) |
517 | 327,835 | ||||||
2.00%, 08/15/26 (Call 05/15/26) |
760 | 691,980 | ||||||
2.05%, 08/15/50 (Call 02/15/50) |
955 | 545,802 | ||||||
2.25%, 08/15/60 (Call 02/15/60)(a) |
555 | 303,468 | ||||||
3.38%, 02/25/24 |
294 | 289,658 | ||||||
Amazon.com Inc. |
||||||||
0.45%, 05/12/24 |
562 | 526,942 | ||||||
0.80%, 06/03/25 (Call 05/03/25) |
480 | 434,443 | ||||||
1.00%, 05/12/26 (Call 04/12/26) |
890 | 779,133 | ||||||
1.20%, 06/03/27 (Call 04/03/27) |
267 | 227,273 | ||||||
1.50%, 06/03/30 (Call 03/03/30) |
511 | 399,638 | ||||||
1.65%, 05/12/28 (Call 03/12/28) |
837 | 707,072 | ||||||
2.10%, 05/12/31 (Call 02/12/31) |
1,142 | 914,331 | ||||||
2.50%, 06/03/50 (Call 12/03/49) |
876 | 521,623 | ||||||
2.70%, 06/03/60 (Call 12/03/59) |
561 | 317,874 | ||||||
2.73%, 04/13/24 |
50 | 48,684 | ||||||
2.80%, 08/22/24 (Call 06/22/24) |
824 | 796,750 | ||||||
2.88%, 05/12/41 (Call 11/12/40) |
717 | 508,210 | ||||||
3.00%, 04/13/25 |
585 | 562,448 | ||||||
3.10%, 05/12/51 (Call 11/12/50) |
855 | 572,593 | ||||||
3.15%, 08/22/27 (Call 05/22/27) |
1,302 | 1,205,678 | ||||||
3.25%, 05/12/61 (Call 11/12/60) |
455 | 292,301 | ||||||
3.30%, 04/13/27 (Call 03/13/27) |
790 | 741,289 | ||||||
3.45%, 04/13/29 (Call 02/13/29)(a) |
555 | 509,196 | ||||||
3.60%, 04/13/32 (Call 01/13/32) |
925 | 827,727 | ||||||
3.80%, 12/05/24 (Call 09/05/24) |
116 | 114,036 |
Security | Par (000) |
Value | ||||||
Internet (continued) | ||||||||
3.88%, 08/22/37 (Call 02/22/37) |
$ | 544 | $ | 462,694 | ||||
3.95%, 04/13/52 (Call 10/13/51) |
695 | 545,269 | ||||||
4.05%, 08/22/47 (Call 02/22/47)(a) |
1,017 | 826,994 | ||||||
4.10%, 04/13/62 (Call 10/13/61) |
460 | 352,687 | ||||||
4.25%, 08/22/57 (Call 02/22/57) |
867 | 697,545 | ||||||
4.80%, 12/05/34 (Call 06/05/34) |
479 | 466,177 | ||||||
4.95%, 12/05/44 (Call 06/05/44) |
474 | 443,820 | ||||||
5.20%, 12/03/25 (Call 09/03/25) |
456 | 462,822 | ||||||
Baidu Inc. |
||||||||
1.72%, 04/09/26 (Call 03/09/26) |
220 | 191,671 | ||||||
3.08%, 04/07/25 (Call 03/07/25) |
200 | 186,706 | ||||||
3.63%, 07/06/27(a) |
215 | 192,070 | ||||||
4.13%, 06/30/25 |
90 | 85,711 | ||||||
4.38%, 05/14/24 (Call 04/14/24)(a) |
60 | 58,639 | ||||||
4.38%, 03/29/28 (Call 12/29/27)(a) |
35 | 30,844 | ||||||
Booking Holdings Inc. |
||||||||
3.55%, 03/15/28 (Call 12/15/27) |
225 | 204,691 | ||||||
3.60%, 06/01/26 (Call 03/01/26) |
447 | 422,379 | ||||||
3.65%, 03/15/25 (Call 12/15/24) |
352 | 339,110 | ||||||
4.63%, 04/13/30 (Call 01/13/30) |
163 | 153,717 | ||||||
Meta Platforms Inc. |
||||||||
3.50%, 08/15/27 (Call 07/15/27)(c) |
565 | 519,065 | ||||||
3.85%, 08/15/32 (Call 05/15/32)(c) |
900 | 767,376 | ||||||
4.45%, 08/15/52 (Call 02/15/52)(c) |
965 | 717,690 | ||||||
4.65%, 08/15/62 (Call 02/15/62)(c) |
575 | 425,442 | ||||||
Tencent Music Entertainment Group, 2.00%, 09/03/30 (Call 06/03/30) |
95 | 64,449 | ||||||
|
|
|||||||
26,132,679 | ||||||||
Machinery — 1.6% | ||||||||
ABB Finance USA Inc., 4.38%, 05/08/42 |
235 | 191,539 | ||||||
Caterpillar Financial Services Corp. |
||||||||
0.45%, 05/17/24 |
40 | 37,355 | ||||||
0.60%, 09/13/24 |
235 | 217,175 | ||||||
0.80%, 11/13/25 |
95 | 84,150 | ||||||
0.90%, 03/02/26(a) |
515 | 451,506 | ||||||
1.10%, 09/14/27 |
244 | 203,611 | ||||||
1.15%, 09/14/26 |
425 | 368,063 | ||||||
1.45%, 05/15/25 |
142 | 130,549 | ||||||
1.70%, 01/08/27 |
30 | 26,313 | ||||||
2.15%, 11/08/24 |
342 | 324,192 | ||||||
2.85%, 05/17/24 |
219 | 212,450 | ||||||
3.25%, 12/01/24 |
55 | 53,268 | ||||||
3.40%, 05/13/25 |
195 | 188,228 | ||||||
3.60%, 08/12/27 |
125 | 117,229 | ||||||
3.65%, 08/12/25 |
255 | 247,008 | ||||||
Caterpillar Inc. |
||||||||
1.90%, 03/12/31 (Call 12/12/30) |
120 | 94,672 | ||||||
2.60%, 09/19/29 (Call 06/19/29)(a) |
296 | 253,112 | ||||||
2.60%, 04/09/30 (Call 01/09/30) |
281 | 237,616 | ||||||
3.25%, 09/19/49 (Call 03/19/49) |
365 | 258,756 | ||||||
3.25%, 04/09/50 (Call 10/09/49)(a) |
224 | 158,834 | ||||||
3.40%, 05/15/24 (Call 02/15/24) |
570 | 557,443 | ||||||
3.80%, 08/15/42 |
502 | 404,758 | ||||||
4.30%, 05/15/44 (Call 11/15/43) |
154 | 132,081 | ||||||
4.75%, 05/15/64 (Call 11/15/63) |
212 | 180,980 | ||||||
5.20%, 05/27/41 |
344 | 332,920 | ||||||
Deere & Co. |
||||||||
2.75%, 04/15/25 (Call 03/15/25) |
362 | 344,523 | ||||||
2.88%, 09/07/49 (Call 03/07/49)(a) |
150 | 100,048 | ||||||
3.10%, 04/15/30 (Call 01/15/30) |
218 | 191,162 |
60 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Machinery (continued) | ||||||||
3.75%, 04/15/50 (Call 10/15/49)(a) |
$ | 174 | $ | 136,583 | ||||
3.90%, 06/09/42 (Call 12/09/41) |
151 | 125,455 | ||||||
5.38%, 10/16/29 |
101 | 102,575 | ||||||
John Deere Capital Corp. |
||||||||
0.45%, 06/07/24 |
335 | 312,572 | ||||||
0.63%, 09/10/24 |
265 | 245,533 | ||||||
0.70%, 01/15/26 |
365 | 319,039 | ||||||
1.05%, 06/17/26(a) |
420 | 366,475 | ||||||
1.25%, 01/10/25 |
320 | 296,656 | ||||||
1.45%, 01/15/31(a) |
140 | 105,731 | ||||||
1.50%, 03/06/28 |
260 | 217,043 | ||||||
1.70%, 01/11/27(a) |
115 | 100,854 | ||||||
1.75%, 03/09/27 |
305 | 265,356 | ||||||
2.00%, 06/17/31 |
230 | 180,331 | ||||||
2.05%, 01/09/25 |
290 | 273,203 | ||||||
2.45%, 01/09/30 |
185 | 154,754 | ||||||
2.60%, 03/07/24 |
396 | 384,401 | ||||||
2.65%, 06/24/24 |
160 | 154,390 | ||||||
2.65%, 06/10/26 |
275 | 254,631 | ||||||
2.80%, 09/08/27 |
243 | 219,196 | ||||||
2.80%, 07/18/29 |
225 | 194,758 | ||||||
3.35%, 06/12/24 |
100 | 97,667 | ||||||
3.35%, 04/18/29 |
200 | 180,852 | ||||||
3.40%, 06/06/25 |
385 | 371,563 | ||||||
3.45%, 03/13/25 |
77 | 74,523 | ||||||
3.45%, 03/07/29 |
231 | 210,053 | ||||||
3.90%, 06/07/32(a) |
105 | 95,212 | ||||||
4.05%, 09/08/25 |
170 | 166,075 | ||||||
4.15%, 09/15/27 |
200 | 192,426 | ||||||
4.35%, 09/15/32 |
200 | 187,898 | ||||||
4.55%, 10/11/24 |
230 | 228,845 | ||||||
4.85%, 10/11/29 |
300 | 294,924 | ||||||
Rockwell Automation Inc., 4.20%, 03/01/49 (Call 09/01/48) |
240 | 191,885 | ||||||
|
|
|||||||
12,801,000 | ||||||||
Manufacturing — 0.5% | ||||||||
3M Co. |
||||||||
2.00%, 02/14/25 (Call 01/14/25) |
356 | 332,885 | ||||||
2.25%, 09/19/26 (Call 06/19/26)(a) |
237 | 213,767 | ||||||
2.38%, 08/26/29 (Call 05/26/29)(a) |
118 | 97,419 | ||||||
2.65%, 04/15/25 (Call 03/15/25)(a) |
140 | 131,965 | ||||||
2.88%, 10/15/27 (Call 07/15/27) |
230 | 207,179 | ||||||
3.00%, 08/07/25(a) |
166 | 157,476 | ||||||
3.05%, 04/15/30 (Call 01/15/30)(a) |
230 | 196,742 | ||||||
3.13%, 09/19/46 (Call 03/19/46) |
187 | 121,094 | ||||||
3.25%, 08/26/49 (Call 02/26/49)(a) |
205 | 136,397 | ||||||
3.38%, 03/01/29 (Call 12/01/28)(a) |
298 | 267,592 | ||||||
3.63%, 09/14/28 (Call 06/14/28) |
169 | 155,691 | ||||||
3.63%, 10/15/47 (Call 04/15/47) |
225 | 157,412 | ||||||
3.70%, 04/15/50 (Call 10/15/49) |
180 | 128,470 | ||||||
4.00%, 09/14/48 (Call 03/14/48)(a) |
433 | 327,201 | ||||||
5.70%, 03/15/37 |
285 | 278,171 | ||||||
Illinois Tool Works Inc. |
||||||||
2.65%, 11/15/26 (Call 08/15/26) |
440 | 404,373 | ||||||
3.90%, 09/01/42 (Call 03/01/42) |
220 | 176,253 | ||||||
4.88%, 09/15/41 (Call 03/15/41) |
205 | 187,624 | ||||||
|
|
|||||||
3,677,711 | ||||||||
Media — 3.7% | ||||||||
Comcast Corp. |
||||||||
1.50%, 02/15/31 (Call 11/15/30) |
565 | 421,106 |
Security | Par (000) |
Value | ||||||
Media (continued) | ||||||||
1.95%, 01/15/31 (Call 10/15/30)(a) |
$ | 290 | $ | 224,704 | ||||
2.35%, 01/15/27 (Call 10/15/26) |
264 | 235,958 | ||||||
2.45%, 08/15/52 (Call 02/15/52) |
425 | 232,135 | ||||||
2.65%, 02/01/30 (Call 11/01/29) |
575 | 480,436 | ||||||
2.65%, 08/15/62 (Call 02/15/62) |
395 | 206,909 | ||||||
2.80%, 01/15/51 (Call 07/15/50) |
631 | 374,877 | ||||||
2.89%, 11/01/51 (Call 05/01/51) |
1,450 | 871,058 | ||||||
2.94%, 11/01/56 (Call 05/01/56)(a) |
1,848 | 1,070,454 | ||||||
2.99%, 11/01/63 (Call 05/01/63) |
1,212 | 683,192 | ||||||
3.15%, 03/01/26 (Call 12/01/25) |
624 | 586,410 | ||||||
3.15%, 02/15/28 (Call 11/15/27) |
550 | 496,023 | ||||||
3.20%, 07/15/36 (Call 01/15/36) |
118 | 89,778 | ||||||
3.25%, 11/01/39 (Call 05/01/39) |
355 | 257,553 | ||||||
3.30%, 02/01/27 (Call 11/01/26) |
382 | 353,789 | ||||||
3.30%, 04/01/27 (Call 02/01/27) |
219 | 202,214 | ||||||
3.38%, 02/15/25 (Call 11/15/24) |
405 | 390,489 | ||||||
3.38%, 08/15/25 (Call 05/15/25) |
540 | 516,256 | ||||||
3.40%, 04/01/30 (Call 01/01/30) |
574 | 505,200 | ||||||
3.40%, 07/15/46 (Call 01/15/46) |
332 | 226,597 | ||||||
3.45%, 02/01/50 (Call 08/01/49) |
593 | 400,506 | ||||||
3.55%, 05/01/28 (Call 02/01/28) |
290 | 265,260 | ||||||
3.70%, 04/15/24 (Call 03/15/24) |
654 | 641,862 | ||||||
3.75%, 04/01/40 (Call 10/01/39)(a) |
469 | 361,857 | ||||||
3.90%, 03/01/38 (Call 09/01/37) |
321 | 259,580 | ||||||
3.95%, 10/15/25 (Call 08/15/25) |
968 | 936,192 | ||||||
3.97%, 11/01/47 (Call 05/01/47) |
697 | 518,094 | ||||||
4.00%, 08/15/47 (Call 02/15/47) |
341 | 255,447 | ||||||
4.00%, 03/01/48 (Call 09/01/47) |
264 | 197,947 | ||||||
4.00%, 11/01/49 (Call 05/01/49) |
580 | 428,539 | ||||||
4.05%, 11/01/52 (Call 05/01/52)(a) |
398 | 294,811 | ||||||
4.15%, 10/15/28 (Call 07/15/28) |
958 | 898,815 | ||||||
4.20%, 08/15/34 (Call 02/15/34) |
343 | 299,785 | ||||||
4.25%, 10/15/30 (Call 07/15/30) |
589 | 541,462 | ||||||
4.25%, 01/15/33(a) |
685 | 616,932 | ||||||
4.40%, 08/15/35 (Call 02/15/35)(a) |
313 | 274,416 | ||||||
4.60%, 10/15/38 (Call 04/15/38) |
321 | 278,342 | ||||||
4.60%, 08/15/45 (Call 02/15/45) |
312 | 255,288 | ||||||
4.65%, 07/15/42 |
224 | 186,944 | ||||||
4.70%, 10/15/48 (Call 04/15/48) |
723 | 606,235 | ||||||
4.95%, 10/15/58 (Call 04/15/58) |
353 | 297,604 | ||||||
5.35%, 11/15/27 |
260 | 259,883 | ||||||
5.50%, 11/15/32 |
300 | 298,104 | ||||||
5.65%, 06/15/35 |
381 | 375,201 | ||||||
6.45%, 03/15/37 |
120 | 124,782 | ||||||
6.50%, 11/15/35 |
275 | 289,080 | ||||||
7.05%, 03/15/33 |
170 | 184,810 | ||||||
NBCUniversal Media LLC, 4.45%, 01/15/43 |
306 | 249,433 | ||||||
TWDC Enterprises 18 Corp. |
||||||||
1.85%, 07/30/26 |
274 | 244,038 | ||||||
2.95%, 06/15/27(a) |
201 | 183,987 | ||||||
3.00%, 02/13/26 |
260 | 243,147 | ||||||
3.00%, 07/30/46 |
154 | 101,253 | ||||||
3.15%, 09/17/25 |
388 | 368,604 | ||||||
3.70%, 12/01/42 |
220 | 166,390 | ||||||
4.13%, 06/01/44 |
377 | 304,646 | ||||||
Series B, 7.00%, 03/01/32 |
170 | 186,250 | ||||||
Series E, 4.13%, 12/01/41 |
186 | 150,593 | ||||||
Walt Disney Co. (The) |
||||||||
1.75%, 08/30/24 (Call 07/30/24) |
116 | 109,619 | ||||||
1.75%, 01/13/26 |
466 | 422,019 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Media (continued) | ||||||||
2.00%, 09/01/29 (Call 06/01/29) |
$ | 733 | $ | 598,458 | ||||
2.20%, 01/13/28(a) |
505 | 439,471 | ||||||
2.65%, 01/13/31 |
720 | 596,498 | ||||||
2.75%, 09/01/49 (Call 03/01/49) |
522 | 322,951 | ||||||
3.35%, 03/24/25 |
391 | 375,919 | ||||||
3.50%, 05/13/40 (Call 11/13/39) |
478 | 365,484 | ||||||
3.60%, 01/13/51 (Call 07/13/50) |
656 | 475,659 | ||||||
3.70%, 09/15/24 (Call 06/15/24) |
279 | 272,427 | ||||||
3.70%, 10/15/25 (Call 07/15/25)(a) |
289 | 279,105 | ||||||
3.70%, 03/23/27 |
120 | 113,204 | ||||||
3.80%, 03/22/30(a) |
459 | 418,553 | ||||||
3.80%, 05/13/60 (Call 11/13/59) |
442 | 317,480 | ||||||
4.63%, 03/23/40 (Call 09/23/39) |
227 | 201,213 | ||||||
4.70%, 03/23/50 (Call 09/23/49)(a) |
681 | 591,360 | ||||||
4.75%, 09/15/44 (Call 03/15/44) |
205 | 178,858 | ||||||
5.40%, 10/01/43 |
166 | 157,363 | ||||||
6.15%, 02/15/41 |
225 | 230,609 | ||||||
6.20%, 12/15/34 |
527 | 551,537 | ||||||
6.40%, 12/15/35 |
135 | 142,899 | ||||||
6.65%, 11/15/37 |
493 | 533,495 | ||||||
|
|
|||||||
28,665,438 | ||||||||
Metal Fabricate & Hardware — 0.1% | ||||||||
Precision Castparts Corp. |
||||||||
3.25%, 06/15/25 (Call 03/15/25) |
429 | 411,694 | ||||||
3.90%, 01/15/43 (Call 07/15/42) |
170 | 133,299 | ||||||
|
|
|||||||
544,993 | ||||||||
Mining — 0.3% | ||||||||
BHP Billiton Finance USA Ltd. |
||||||||
4.13%, 02/24/42 |
370 | 303,926 | ||||||
5.00%, 09/30/43(a) |
836 | 767,431 | ||||||
Rio Tinto Alcan Inc., 6.13%, 12/15/33(a) |
240 | 249,435 | ||||||
Rio Tinto Finance USA Ltd. |
||||||||
2.75%, 11/02/51 (Call 05/02/51) |
360 | 222,008 | ||||||
5.20%, 11/02/40 |
217 | 206,389 | ||||||
7.13%, 07/15/28 |
241 | 258,829 | ||||||
Rio Tinto Finance USA PLC |
||||||||
4.13%, 08/21/42 (Call 02/21/42) |
271 | 221,014 | ||||||
4.75%, 03/22/42 (Call 09/22/41) |
165 | 145,858 | ||||||
|
|
|||||||
2,374,890 | ||||||||
Oil & Gas — 4.3% | ||||||||
BP Capital Markets America Inc. |
||||||||
1.75%, 08/10/30 (Call 05/10/30) |
420 | 325,609 | ||||||
2.72%, 01/12/32 (Call 10/12/31) |
620 | 503,310 | ||||||
2.77%, 11/10/50 (Call 05/10/50) |
510 | 307,030 | ||||||
2.94%, 06/04/51 (Call 12/04/50)(a) |
612 | 377,965 | ||||||
3.00%, 02/24/50 (Call 08/24/49) |
549 | 346,995 | ||||||
3.00%, 03/17/52 (Call 09/17/51) |
470 | 292,227 | ||||||
3.02%, 01/16/27 (Call 10/16/26) |
299 | 273,418 | ||||||
3.06%, 06/17/41 (Call 12/17/40)(a) |
500 | 350,105 | ||||||
3.12%, 05/04/26 (Call 02/04/26) |
105 | 98,020 | ||||||
3.38%, 02/08/61 (Call 08/08/60) |
920 | 585,635 | ||||||
3.41%, 02/11/26 (Call 12/11/25)(a) |
350 | 331,608 | ||||||
3.54%, 04/06/27 (Call 02/06/27)(a) |
15 | 13,970 | ||||||
3.59%, 04/14/27 (Call 01/14/27) |
196 | 182,911 | ||||||
3.63%, 04/06/30 (Call 01/06/30) |
237 | 212,129 | ||||||
3.80%, 09/21/25 (Call 07/21/25) |
375 | 364,005 | ||||||
3.94%, 09/21/28 (Call 06/21/28) |
295 | 273,875 | ||||||
4.23%, 11/06/28 (Call 08/06/28) |
258 | 242,879 |
Security | Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
BP Capital Markets PLC |
||||||||
3.28%, 09/19/27 (Call 06/19/27) |
$ | 289 | $ | 264,051 | ||||
3.72%, 11/28/28 (Call 08/28/28) |
364 | 332,390 | ||||||
Chevron Corp. |
||||||||
1.55%, 05/11/25 (Call 04/11/25) |
900 | 830,574 | ||||||
2.00%, 05/11/27 (Call 03/11/27) |
470 | 415,917 | ||||||
2.24%, 05/11/30 (Call 02/11/30) |
444 | 368,653 | ||||||
2.90%, 03/03/24 (Call 01/03/24) |
487 | 475,697 | ||||||
2.95%, 05/16/26 (Call 02/16/26) |
626 | 587,595 | ||||||
3.08%, 05/11/50 (Call 11/11/49) |
292 | 199,728 | ||||||
3.33%, 11/17/25 (Call 08/17/25)(a) |
351 | 338,364 | ||||||
Chevron USA Inc. |
||||||||
0.69%, 08/12/25 (Call 07/12/25)(a) |
348 | 311,446 | ||||||
1.02%, 08/12/27 (Call 06/12/27) |
213 | 178,971 | ||||||
2.34%, 08/12/50 (Call 02/12/50) |
227 | 134,418 | ||||||
3.85%, 01/15/28 (Call 10/15/27) |
285 | 270,308 | ||||||
3.90%, 11/15/24 (Call 08/15/24) |
230 | 225,853 | ||||||
ConocoPhillips Co. |
||||||||
2.13%, 03/08/24 (Call 12/01/22) |
235 | 226,300 | ||||||
2.40%, 03/07/25 (Call 03/07/23) |
145 | 136,954 | ||||||
3.76%, 03/15/42 |
459 | 358,484 | ||||||
3.80%, 03/15/52 (Call 09/15/51)(a) |
215 | 160,962 | ||||||
4.03%, 03/15/62 |
710 | 524,370 | ||||||
4.30%, 11/15/44 (Call 05/15/44) |
235 | 193,779 | ||||||
5.90%, 10/15/32 |
36 | 37,342 | ||||||
6.50%, 02/01/39 |
375 | 403,583 | ||||||
6.95%, 04/15/29 |
55 | 59,775 | ||||||
EOG Resources Inc. |
||||||||
3.15%, 04/01/25 (Call 01/01/25) |
15 | 14,403 | ||||||
3.90%, 04/01/35 (Call 10/01/34) |
319 | 271,941 | ||||||
4.15%, 01/15/26 (Call 10/15/25) |
558 | 541,578 | ||||||
4.38%, 04/15/30 (Call 01/15/30) |
352 | 334,059 | ||||||
4.95%, 04/15/50 (Call 10/15/49) |
135 | 122,849 | ||||||
Exxon Mobil Corp. |
||||||||
2.02%, 08/16/24 (Call 07/16/24) |
537 | 511,761 | ||||||
2.28%, 08/16/26 (Call 06/16/26)(a) |
463 | 421,603 | ||||||
2.44%, 08/16/29 (Call 05/16/29)(a) |
614 | 525,645 | ||||||
2.61%, 10/15/30 (Call 07/15/30)(a) |
737 | 624,047 | ||||||
2.71%, 03/06/25 (Call 12/06/24) |
728 | 694,818 | ||||||
2.99%, 03/19/25 (Call 02/19/25) |
972 | 931,079 | ||||||
3.00%, 08/16/39 (Call 02/16/39) |
347 | 253,248 | ||||||
3.04%, 03/01/26 (Call 12/01/25) |
872 | 821,005 | ||||||
3.10%, 08/16/49 (Call 02/16/49) |
255 | 173,499 | ||||||
3.18%, 03/15/24 (Call 12/15/23) |
160 | 156,710 | ||||||
3.29%, 03/19/27 (Call 01/19/27)(a) |
289 | 271,331 | ||||||
3.45%, 04/15/51 (Call 10/15/50)(a) |
728 | 519,166 | ||||||
3.48%, 03/19/30 (Call 12/19/29) |
531 | 482,355 | ||||||
3.57%, 03/06/45 (Call 09/06/44) |
300 | 221,865 | ||||||
4.11%, 03/01/46 (Call 09/01/45) |
844 | 677,217 | ||||||
4.23%, 03/19/40 (Call 09/19/39) |
733 | 628,086 | ||||||
4.33%, 03/19/50 (Call 09/19/49) |
816 | 677,753 | ||||||
Shell International Finance BV |
||||||||
2.00%, 11/07/24 (Call 10/07/24) |
600 | 569,016 | ||||||
2.38%, 11/07/29 (Call 08/07/29) |
302 | 254,574 | ||||||
2.50%, 09/12/26(a) |
314 | 286,519 | ||||||
2.75%, 04/06/30 (Call 01/06/30) |
352 | 301,407 | ||||||
2.88%, 05/10/26 |
773 | 721,078 | ||||||
2.88%, 11/26/41 (Call 05/26/41) |
235 | 161,382 | ||||||
3.00%, 11/26/51 (Call 05/26/51) |
375 | 241,545 | ||||||
3.13%, 11/07/49 (Call 05/07/49) |
422 | 280,849 |
62 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
3.25%, 05/11/25 |
$ | 931 | $ | 894,244 | ||||
3.25%, 04/06/50 (Call 10/06/49)(a) |
668 | 459,223 | ||||||
3.63%, 08/21/42 |
298 | 225,506 | ||||||
3.75%, 09/12/46 |
448 | 335,108 | ||||||
3.88%, 11/13/28 (Call 08/13/28) |
509 | 476,231 | ||||||
4.00%, 05/10/46 |
586 | 460,326 | ||||||
4.13%, 05/11/35 |
488 | 430,348 | ||||||
4.38%, 05/11/45 |
767 | 634,010 | ||||||
4.55%, 08/12/43 |
323 | 276,197 | ||||||
5.50%, 03/25/40 |
320 | 311,872 | ||||||
6.38%, 12/15/38 |
1,002 | 1,056,429 | ||||||
TotalEnergies Capital International SA |
||||||||
2.43%, 01/10/25 (Call 10/10/24) |
460 | 435,091 | ||||||
2.83%, 01/10/30 (Call 10/10/29)(a) |
376 | 322,954 | ||||||
2.99%, 06/29/41 (Call 12/29/40) |
262 | 183,827 | ||||||
3.13%, 05/29/50 (Call 11/29/49) |
746 | 492,942 | ||||||
3.39%, 06/29/60 (Call 12/29/59) |
178 | 115,672 | ||||||
3.45%, 02/19/29 (Call 11/19/28)(a) |
590 | 536,092 | ||||||
3.46%, 07/12/49 (Call 01/12/49) |
221 | 155,135 | ||||||
3.75%, 04/10/24 |
679 | 669,256 | ||||||
TotalEnergies Capital SA, 3.88%, 10/11/28 |
440 | 410,604 | ||||||
|
|
|||||||
33,690,660 | ||||||||
Oil & Gas Services — 0.2% | ||||||||
Baker Hughes Holdings LLC, 5.13%, 09/15/40 |
409 | 350,914 | ||||||
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor Inc. |
||||||||
2.06%, 12/15/26 (Call 11/15/26) |
110 | 96,283 | ||||||
3.14%, 11/07/29 (Call 08/07/29) |
238 | 201,948 | ||||||
3.34%, 12/15/27 (Call 09/15/27) |
542 | 486,022 | ||||||
4.08%, 12/15/47 (Call 06/15/47) |
413 | 299,668 | ||||||
4.49%, 05/01/30 (Call 02/01/30) |
133 | 122,754 | ||||||
Schlumberger Finance Canada Ltd., 1.40%, 09/17/25 (Call 08/17/25) |
15 | 13,564 | ||||||
Schlumberger Investment SA, 2.65%, 06/26/30 (Call 03/26/30) |
430 | 359,996 | ||||||
|
|
|||||||
1,931,149 | ||||||||
Pharmaceuticals — 5.6% | ||||||||
Astrazeneca Finance LLC |
||||||||
0.70%, 05/28/24 (Call 12/01/22) |
620 | 579,210 | ||||||
1.20%, 05/28/26 (Call 04/28/26) |
850 | 741,854 | ||||||
1.75%, 05/28/28 (Call 03/28/28) |
540 | 451,850 | ||||||
2.25%, 05/28/31 (Call 02/28/31) |
310 | 249,674 | ||||||
AstraZeneca PLC |
||||||||
0.70%, 04/08/26 (Call 03/08/26) |
435 | 374,987 | ||||||
1.38%, 08/06/30 (Call 05/06/30) |
290 | 221,844 | ||||||
2.13%, 08/06/50 (Call 02/06/50) |
50 | 27,546 | ||||||
3.00%, 05/28/51 (Call 11/28/50) |
230 | 152,842 | ||||||
3.13%, 06/12/27 (Call 03/12/27) |
185 | 170,293 | ||||||
3.38%, 11/16/25 |
380 | 362,159 | ||||||
4.00%, 01/17/29 (Call 10/17/28) |
165 | 155,283 | ||||||
4.00%, 09/18/42 |
365 | 299,975 | ||||||
4.38%, 11/16/45 |
320 | 271,136 | ||||||
4.38%, 08/17/48 (Call 02/17/48) |
195 | 164,570 | ||||||
6.45%, 09/15/37 |
780 | 837,650 | ||||||
Bristol-Myers Squibb Co. |
||||||||
0.75%, 11/13/25 (Call 10/13/25) |
96 | 84,911 | ||||||
1.13%, 11/13/27 (Call 09/13/27) |
440 | 365,614 | ||||||
1.45%, 11/13/30 (Call 08/13/30) |
500 | 383,030 | ||||||
2.35%, 11/13/40 (Call 05/13/40) |
141 | 91,808 | ||||||
2.55%, 11/13/50 (Call 05/13/50) |
588 | 352,647 |
Security |
Par (000) |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
2.90%, 07/26/24 (Call 06/26/24)(a) |
$ | 755 | $ | 730,561 | ||||
2.95%, 03/15/32 (Call 12/15/31)(a) |
310 | 262,871 | ||||||
3.20%, 06/15/26 (Call 04/15/26) |
863 | 814,853 | ||||||
3.25%, 08/01/42 |
165 | 119,104 | ||||||
3.40%, 07/26/29 (Call 04/26/29) |
658 | 597,806 | ||||||
3.45%, 11/15/27 (Call 08/15/27) |
280 | 260,876 | ||||||
3.55%, 03/15/42 (Call 09/15/41) |
310 | 237,091 | ||||||
3.70%, 03/15/52 (Call 09/15/51) |
550 | 408,309 | ||||||
3.90%, 02/20/28 (Call 11/20/27) |
575 | 544,991 | ||||||
3.90%, 03/15/62 (Call 09/15/61) |
375 | 274,253 | ||||||
4.13%, 06/15/39 (Call 12/15/38) |
475 | 403,840 | ||||||
4.25%, 10/26/49 (Call 04/26/49) |
1,067 | 868,911 | ||||||
4.35%, 11/15/47 (Call 05/15/47) |
480 | 398,453 | ||||||
4.55%, 02/20/48 (Call 08/20/47) |
514 | 439,043 | ||||||
4.63%, 05/15/44 (Call 11/15/43) |
350 | 304,206 | ||||||
5.00%, 08/15/45 (Call 02/15/45) |
65 | 59,507 | ||||||
Eli Lilly & Co. |
||||||||
2.25%, 05/15/50 (Call 11/15/49) |
339 | 203,329 | ||||||
2.50%, 09/15/60 (Call 03/15/60) |
265 | 152,595 | ||||||
2.75%, 06/01/25 (Call 03/01/25) |
479 | 456,554 | ||||||
3.38%, 03/15/29 (Call 12/15/28)(a) |
486 | 449,599 | ||||||
3.95%, 03/15/49 (Call 09/15/48) |
215 | 179,566 | ||||||
4.15%, 03/15/59 (Call 09/15/58) |
185 | 150,061 | ||||||
GlaxoSmithKline Capital Inc. |
||||||||
3.63%, 05/15/25 |
432 | 419,191 | ||||||
3.88%, 05/15/28 |
520 | 487,916 | ||||||
4.20%, 03/18/43 |
169 | 137,627 | ||||||
5.38%, 04/15/34 |
161 | 160,116 | ||||||
6.38%, 05/15/38 |
899 | 963,108 | ||||||
GlaxoSmithKline Capital PLC |
||||||||
3.00%, 06/01/24 (Call 05/01/24) |
562 | 545,618 | ||||||
3.38%, 06/01/29 (Call 03/01/29) |
385 | 347,278 | ||||||
Johnson & Johnson |
||||||||
0.55%, 09/01/25 (Call 08/01/25)(a) |
30 | 26,803 | ||||||
0.95%, 09/01/27 (Call 07/01/27)(a) |
340 | 287,909 | ||||||
1.30%, 09/01/30 (Call 06/01/30)(a) |
525 | 415,469 | ||||||
2.10%, 09/01/40 (Call 03/01/40) |
270 | 176,801 | ||||||
2.25%, 09/01/50 (Call 03/01/50) |
475 | 281,570 | ||||||
2.45%, 03/01/26 (Call 12/01/25) |
910 | 850,440 | ||||||
2.45%, 09/01/60 (Call 03/01/60) |
285 | 160,854 | ||||||
2.63%, 01/15/25 (Call 11/15/24) |
145 | 138,964 | ||||||
2.90%, 01/15/28 (Call 10/15/27) |
612 | 562,526 | ||||||
2.95%, 03/03/27 (Call 12/03/26) |
378 | 352,009 | ||||||
3.40%, 01/15/38 (Call 07/15/37) |
427 | 348,078 | ||||||
3.50%, 01/15/48 (Call 07/15/47) |
334 | 256,529 | ||||||
3.55%, 03/01/36 (Call 09/01/35) |
220 | 188,001 | ||||||
3.63%, 03/03/37 (Call 09/03/36) |
323 | 275,561 | ||||||
3.70%, 03/01/46 (Call 09/01/45) |
538 | 426,150 | ||||||
3.75%, 03/03/47 (Call 09/03/46) |
403 | 321,751 | ||||||
4.38%, 12/05/33 (Call 06/05/33) |
377 | 358,399 | ||||||
4.50%, 09/01/40 |
157 | 142,069 | ||||||
4.50%, 12/05/43 (Call 06/05/43) |
255 | 225,555 | ||||||
4.95%, 05/15/33 |
228 | 229,384 | ||||||
5.85%, 07/15/38 |
271 | 284,133 | ||||||
5.95%, 08/15/37(a) |
146 | 155,928 | ||||||
Mead Johnson Nutrition Co. |
||||||||
4.13%, 11/15/25 (Call 08/15/25) |
394 | 380,391 | ||||||
4.60%, 06/01/44 (Call 12/01/43) |
215 | 179,297 | ||||||
Merck & Co. Inc. |
||||||||
0.75%, 02/24/26 (Call 01/24/26)(a) |
235 | 205,980 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
1.45%, 06/24/30 (Call 03/24/30) |
$ | 275 | $ | 213,543 | ||||
1.70%, 06/10/27 (Call 05/10/27) |
490 | 426,981 | ||||||
1.90%, 12/10/28 (Call 10/10/28) |
285 | 238,913 | ||||||
2.15%, 12/10/31 (Call 09/10/31) |
445 | 353,512 | ||||||
2.35%, 06/24/40 (Call 12/24/39) |
441 | 290,668 | ||||||
2.45%, 06/24/50 (Call 12/24/49)(a) |
425 | 256,726 | ||||||
2.75%, 02/10/25 (Call 11/10/24) |
663 | 633,609 | ||||||
2.75%, 12/10/51 (Call 06/10/51) |
781 | 496,349 | ||||||
2.90%, 12/10/61 (Call 06/10/61) |
565 | 343,610 | ||||||
3.40%, 03/07/29 (Call 12/07/28) |
493 | 450,183 | ||||||
3.60%, 09/15/42 (Call 03/15/42)(a) |
229 | 176,124 | ||||||
3.70%, 02/10/45 (Call 08/10/44) |
575 | 445,728 | ||||||
3.90%, 03/07/39 (Call 09/07/38) |
290 | 241,515 | ||||||
4.00%, 03/07/49 (Call 09/07/48) |
536 | 432,788 | ||||||
4.15%, 05/18/43 |
333 | 278,897 | ||||||
6.50%, 12/01/33 |
98 | 106,799 | ||||||
Novartis Capital Corp. |
||||||||
1.75%, 02/14/25 (Call 01/14/25) |
202 | 189,104 | ||||||
2.00%, 02/14/27 (Call 12/14/26) |
528 | 472,074 | ||||||
2.20%, 08/14/30 (Call 05/14/30) |
480 | 397,440 | ||||||
2.75%, 08/14/50 (Call 02/14/50) |
426 | 279,230 | ||||||
3.00%, 11/20/25 (Call 08/20/25) |
600 | 569,748 | ||||||
3.10%, 05/17/27 (Call 02/17/27) |
450 | 419,175 | ||||||
3.40%, 05/06/24 |
690 | 676,655 | ||||||
3.70%, 09/21/42 |
243 | 193,912 | ||||||
4.00%, 11/20/45 (Call 05/20/45) |
305 | 250,036 | ||||||
4.40%, 05/06/44 |
480 | 420,019 | ||||||
Pfizer Inc. |
||||||||
0.80%, 05/28/25 (Call 04/28/25) |
441 | 400,494 | ||||||
1.70%, 05/28/30 (Call 02/28/30) |
445 | 354,807 | ||||||
1.75%, 08/18/31 (Call 05/18/31)(a) |
115 | 89,491 | ||||||
2.55%, 05/28/40 (Call 11/28/39) |
299 | 207,156 | ||||||
2.63%, 04/01/30 (Call 01/01/30) |
370 | 316,039 | ||||||
2.70%, 05/28/50 (Call 11/28/49) |
418 | 272,227 | ||||||
2.75%, 06/03/26(a) |
596 | 557,039 | ||||||
2.95%, 03/15/24 (Call 02/15/24) |
288 | 281,310 | ||||||
3.00%, 12/15/26 |
727 | 680,050 | ||||||
3.40%, 05/15/24 |
433 | 424,093 | ||||||
3.45%, 03/15/29 (Call 12/15/28) |
291 | 266,579 | ||||||
3.60%, 09/15/28 (Call 06/15/28) |
425 | 397,813 | ||||||
3.90%, 03/15/39 (Call 09/15/38) |
173 | 145,503 | ||||||
4.00%, 12/15/36 |
210 | 184,466 | ||||||
4.00%, 03/15/49 (Call 09/15/48)(a) |
394 | 324,069 | ||||||
4.10%, 09/15/38 (Call 03/15/38) |
252 | 218,255 | ||||||
4.13%, 12/15/46 |
444 | 375,153 | ||||||
4.20%, 09/15/48 (Call 03/15/48) |
315 | 266,619 | ||||||
4.30%, 06/15/43 |
264 | 228,136 | ||||||
4.40%, 05/15/44 |
374 | 327,370 | ||||||
7.20%, 03/15/39 |
827 | 969,649 | ||||||
Pharmacia LLC, 6.60%, 12/01/28 |
154 | 164,708 | ||||||
Sanofi, 3.63%, 06/19/28 (Call 03/19/28) |
438 | 408,396 | ||||||
Wyeth LLC |
||||||||
5.95%, 04/01/37 |
611 | 637,047 | ||||||
6.00%, 02/15/36 |
141 | 145,725 | ||||||
6.50%, 02/01/34(a) |
307 | 332,791 | ||||||
|
|
|||||||
43,174,990 |
Security |
Par (000) |
Value | ||||||
Pipelines — 0.1% | ||||||||
Columbia Pipeline Group Inc. |
||||||||
4.50%, 06/01/25 (Call 03/01/25) |
$ | 401 | $ | 392,202 | ||||
5.80%, 06/01/45 (Call 12/01/44) |
60 | 54,098 | ||||||
|
|
|||||||
446,300 | ||||||||
Real Estate — 0.0% | ||||||||
Brookfield Asset Management Inc., 4.00%, 01/15/25 (Call 10/15/24) |
135 | 130,895 | ||||||
|
|
|||||||
Real Estate Investment Trusts — 1.5% | ||||||||
AvalonBay Communities Inc. |
||||||||
2.05%, 01/15/32 (Call 10/15/31)(a) |
40 | 30,456 | ||||||
2.30%, 03/01/30 (Call 12/01/29)(a) |
345 | 279,395 | ||||||
2.45%, 01/15/31 (Call 10/17/30) |
141 | 112,964 | ||||||
3.45%, 06/01/25 (Call 03/03/25) |
380 | 362,976 | ||||||
Camden Property Trust |
||||||||
2.80%, 05/15/30 (Call 02/15/30) |
452 | 372,236 | ||||||
3.15%, 07/01/29 (Call 04/01/29) |
110 | 94,255 | ||||||
ERP Operating LP |
||||||||
1.85%, 08/01/31 (Call 05/01/31) |
210 | 156,836 | ||||||
2.50%, 02/15/30 (Call 11/15/29) |
250 | 201,380 | ||||||
2.85%, 11/01/26 (Call 08/01/26) |
55 | 49,797 | ||||||
3.00%, 07/01/29 (Call 04/01/29) |
141 | 119,875 | ||||||
3.50%, 03/01/28 (Call 12/01/27) |
166 | 148,932 | ||||||
4.50%, 07/01/44 (Call 01/01/44) |
172 | 137,519 | ||||||
Mid-America Apartments LP, 3.60%, 06/01/27 (Call 03/01/27) |
15 | 13,750 | ||||||
Prologis LP |
||||||||
1.25%, 10/15/30 (Call 07/15/30) |
380 | 278,624 | ||||||
2.13%, 04/15/27 (Call 02/15/27) |
240 | 210,718 | ||||||
2.13%, 10/15/50 (Call 04/15/50) |
182 | 95,215 | ||||||
2.25%, 04/15/30 (Call 01/15/30) |
378 | 304,267 | ||||||
3.00%, 04/15/50 (Call 10/15/49)(a) |
215 | 135,525 | ||||||
4.63%, 01/15/33 (Call 10/15/32) |
260 | 241,163 | ||||||
Public Storage |
||||||||
0.88%, 02/15/26 (Call 01/15/26) |
285 | 246,465 | ||||||
1.50%, 11/09/26 (Call 10/09/26) |
195 | 169,859 | ||||||
1.85%, 05/01/28 (Call 03/01/28) |
233 | 193,313 | ||||||
1.95%, 11/09/28 (Call 09/09/28) |
195 | 160,506 | ||||||
2.25%, 11/09/31 (Call 08/09/31) |
330 | 253,209 | ||||||
2.30%, 05/01/31 (Call 02/01/31) |
159 | 125,012 | ||||||
3.09%, 09/15/27 (Call 06/15/27) |
267 | 242,140 | ||||||
3.39%, 05/01/29 (Call 02/01/29) |
189 | 167,063 | ||||||
Realty Income Corp. |
||||||||
2.85%, 12/15/32 (Call 09/15/32) |
175 | 136,908 | ||||||
3.00%, 01/15/27 (Call 10/15/26) |
168 | 151,202 | ||||||
3.10%, 12/15/29 (Call 09/15/29) |
331 | 278,497 | ||||||
3.25%, 06/15/29 (Call 03/15/29) |
35 | 30,186 | ||||||
3.25%, 01/15/31 (Call 10/15/30) |
386 | 321,272 | ||||||
3.65%, 01/15/28 (Call 10/15/27) |
120 | 108,944 | ||||||
3.88%, 04/15/25 (Call 02/15/25) |
210 | 203,345 | ||||||
3.95%, 08/15/27 (Call 05/15/27) |
95 | 88,071 | ||||||
4.13%, 10/15/26 (Call 07/15/26) |
125 | 118,175 | ||||||
4.63%, 11/01/25 (Call 09/01/25) |
55 | 53,743 | ||||||
4.65%, 03/15/47 (Call 09/15/46) |
201 | 165,361 | ||||||
4.88%, 06/01/26 (Call 03/01/26) |
45 | 43,786 | ||||||
5.63%, 10/13/32 |
225 | 220,322 | ||||||
Simon Property Group LP |
||||||||
1.38%, 01/15/27 (Call 10/15/26) |
132 | 111,904 | ||||||
1.75%, 02/01/28 (Call 11/01/27) |
265 | 217,024 | ||||||
2.00%, 09/13/24 (Call 06/13/24) |
519 | 487,803 | ||||||
2.20%, 02/01/31 (Call 11/01/30) |
247 | 185,865 |
64 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts (continued) | ||||||||
2.25%, 01/15/32 (Call 10/15/31) |
$ | 285 | $ | 208,506 | ||||
2.45%, 09/13/29 (Call 06/13/29) |
280 | 224,381 | ||||||
2.65%, 07/15/30 (Call 04/15/30) |
282 | 223,601 | ||||||
2.65%, 02/01/32 (Call 12/01/31) |
280 | 212,850 | ||||||
3.25%, 11/30/26 (Call 08/30/26) |
44 | 40,129 | ||||||
3.25%, 09/13/49 (Call 03/13/49) |
305 | 184,717 | ||||||
3.30%, 01/15/26 (Call 10/15/25) |
315 | 293,999 | ||||||
3.38%, 10/01/24 (Call 07/01/24)(a) |
597 | 574,613 | ||||||
3.38%, 06/15/27 (Call 03/15/27) |
385 | 350,358 | ||||||
3.38%, 12/01/27 (Call 09/01/27)(a) |
300 | 269,172 | ||||||
3.50%, 09/01/25 (Call 06/01/25) |
600 | 569,838 | ||||||
3.75%, 02/01/24 (Call 11/01/23) |
265 | 260,100 | ||||||
3.80%, 07/15/50 (Call 01/15/50)(a) |
248 | 167,628 | ||||||
4.25%, 11/30/46 (Call 05/30/46) |
200 | 146,874 | ||||||
4.75%, 03/15/42 (Call 09/15/41) |
131 | 104,686 | ||||||
6.75%, 02/01/40 (Call 11/01/39) |
201 | 199,899 | ||||||
|
|
|||||||
11,857,209 | ||||||||
Retail — 2.7% | ||||||||
Costco Wholesale Corp. |
||||||||
1.38%, 06/20/27 (Call 04/20/27) |
115 | 99,116 | ||||||
1.60%, 04/20/30 (Call 01/20/30) |
337 | 268,876 | ||||||
1.75%, 04/20/32 (Call 01/20/32)(a) |
430 | 329,767 | ||||||
2.75%, 05/18/24 (Call 03/18/24) |
549 | 533,260 | ||||||
3.00%, 05/18/27 (Call 02/18/27) |
488 | 454,611 | ||||||
Home Depot Inc. (The) |
||||||||
0.90%, 03/15/28 (Call 01/15/28) |
80 | 64,966 | ||||||
1.38%, 03/15/31 (Call 12/15/30) |
470 | 351,668 | ||||||
1.50%, 09/15/28 (Call 07/15/28) |
452 | 373,117 | ||||||
1.88%, 09/15/31 (Call 06/15/31) |
327 | 252,637 | ||||||
2.13%, 09/15/26 (Call 06/15/26) |
428 | 386,416 | ||||||
2.38%, 03/15/51 (Call 09/15/50) |
250 | 141,645 | ||||||
2.50%, 04/15/27 (Call 02/15/27)(a) |
373 | 337,401 | ||||||
2.70%, 04/15/25 (Call 03/15/25) |
40 | 38,046 | ||||||
2.70%, 04/15/30 (Call 01/15/30) |
207 | 175,967 | ||||||
2.75%, 09/15/51 (Call 03/15/51) |
452 | 276,045 | ||||||
2.80%, 09/14/27 (Call 06/14/27)(a) |
460 | 418,687 | ||||||
2.88%, 04/15/27 (Call 03/15/27) |
260 | 239,028 | ||||||
2.95%, 06/15/29 (Call 03/15/29) |
627 | 553,077 | ||||||
3.00%, 04/01/26 (Call 01/01/26) |
47 | 44,189 | ||||||
3.13%, 12/15/49 (Call 06/15/49) |
397 | 263,830 | ||||||
3.25%, 04/15/32 (Call 01/15/32)(a) |
95 | 81,849 | ||||||
3.30%, 04/15/40 (Call 10/15/39) |
497 | 372,467 | ||||||
3.35%, 09/15/25 (Call 06/15/25) |
351 | 336,932 | ||||||
3.35%, 04/15/50 (Call 10/15/49) |
573 | 397,324 | ||||||
3.50%, 09/15/56 (Call 03/15/56) |
213 | 145,264 | ||||||
3.63%, 04/15/52 (Call 10/15/51) |
370 | 268,479 | ||||||
3.75%, 02/15/24 (Call 11/15/23) |
523 | 517,273 | ||||||
3.90%, 12/06/28 (Call 09/06/28) |
383 | 361,709 | ||||||
3.90%, 06/15/47 (Call 12/15/46) |
475 | 366,700 | ||||||
4.00%, 09/15/25 (Call 08/15/25) |
65 | 63,648 | ||||||
4.20%, 04/01/43 (Call 10/01/42) |
321 | 263,685 | ||||||
4.25%, 04/01/46 (Call 10/01/45) |
602 | 494,441 | ||||||
4.40%, 03/15/45 (Call 09/15/44) |
417 | 345,480 | ||||||
4.50%, 09/15/32 (Call 06/15/32) |
500 | 473,950 | ||||||
4.50%, 12/06/48 (Call 06/06/48) |
507 | 429,399 | ||||||
4.88%, 02/15/44 (Call 08/15/43) |
432 | 384,973 | ||||||
4.95%, 09/15/52 (Call 03/15/52)(a) |
305 | 274,210 | ||||||
5.40%, 09/15/40 (Call 03/15/40) |
125 | 120,644 | ||||||
5.88%, 12/16/36 |
639 | 657,039 | ||||||
5.95%, 04/01/41 (Call 10/01/40) |
295 | 300,233 |
Security |
Par (000) |
Value | ||||||
Retail (continued) | ||||||||
Target Corp. |
||||||||
1.95%, 01/15/27 (Call 12/15/26) |
$ | 270 | $ | 241,958 | ||||
2.25%, 04/15/25 (Call 03/15/25) |
476 | 447,802 | ||||||
2.35%, 02/15/30 (Call 11/15/29) |
250 | 206,780 | ||||||
2.50%, 04/15/26 |
557 | 514,852 | ||||||
2.95%, 01/15/52 (Call 07/15/51) |
370 | 239,797 | ||||||
3.38%, 04/15/29 (Call 01/15/29) |
417 | 376,726 | ||||||
3.50%, 07/01/24 |
413 | 404,195 | ||||||
3.63%, 04/15/46 |
241 | 179,680 | ||||||
3.90%, 11/15/47 (Call 05/15/47) |
241 | 187,108 | ||||||
4.00%, 07/01/42(a) |
225 | 184,795 | ||||||
4.50%, 09/15/32 (Call 06/15/32) |
25 | 23,564 | ||||||
7.00%, 01/15/38 |
235 | 264,211 | ||||||
TJX Companies Inc. (The) |
||||||||
1.15%, 05/15/28 (Call 03/15/28) |
182 | 147,052 | ||||||
1.60%, 05/15/31 (Call 02/15/31) |
140 | 104,765 | ||||||
2.25%, 09/15/26 (Call 06/15/26) |
660 | 596,369 | ||||||
Walmart Inc. |
||||||||
2.50%, 09/22/41 (Call 03/22/41) |
480 | 330,178 | ||||||
2.65%, 12/15/24 (Call 10/15/24)(a) |
95 | 91,218 | ||||||
2.65%, 09/22/51 (Call 03/22/51)(a) |
425 | 273,636 | ||||||
2.85%, 07/08/24 (Call 06/08/24) |
115 | 111,597 | ||||||
2.95%, 09/24/49 (Call 03/24/49) |
255 | 174,162 | ||||||
3.05%, 07/08/26 (Call 05/08/26) |
25 | 23,757 | ||||||
3.25%, 07/08/29 (Call 04/08/29) |
350 | 319,638 | ||||||
3.30%, 04/22/24 (Call 01/22/24)(a) |
511 | 500,657 | ||||||
3.55%, 06/26/25 (Call 04/26/25) |
385 | 374,717 | ||||||
3.70%, 06/26/28 (Call 03/26/28) |
10 | 9,479 | ||||||
3.95%, 06/28/38 (Call 12/28/37) |
255 | 222,610 | ||||||
4.05%, 06/29/48 (Call 12/29/47) |
496 | 414,656 | ||||||
4.15%, 09/09/32 (Call 06/09/32) |
100 | 94,676 | ||||||
4.50%, 09/09/52 (Call 03/09/52) |
200 | 178,020 | ||||||
5.25%, 09/01/35 |
440 | 448,417 | ||||||
5.63%, 04/01/40 |
295 | 304,499 | ||||||
5.63%, 04/15/41 |
250 | 257,833 | ||||||
6.20%, 04/15/38 |
140 | 151,922 | ||||||
6.50%, 08/15/37 |
335 | 379,900 | ||||||
|
|
|||||||
21,039,274 | ||||||||
Semiconductors — 3.3% | ||||||||
Advanced Micro Devices Inc. |
||||||||
3.92%, 06/01/32 (Call 03/01/32)(a) |
290 | 258,906 | ||||||
4.39%, 06/01/52 (Call 12/01/51)(a) |
225 | 181,971 | ||||||
Analog Devices Inc. |
||||||||
1.70%, 10/01/28 (Call 08/01/28) |
250 | 206,683 | ||||||
2.10%, 10/01/31 (Call 07/01/31) |
410 | 321,887 | ||||||
2.80%, 10/01/41 (Call 04/01/41)(a) |
310 | 213,658 | ||||||
2.95%, 10/01/51 (Call 04/01/51) |
340 | 219,079 | ||||||
3.50%, 12/05/26 (Call 09/05/26) |
55 | 51,889 | ||||||
Applied Materials Inc. |
||||||||
1.75%, 06/01/30 (Call 03/01/30) |
190 | 150,075 | ||||||
2.75%, 06/01/50 (Call 12/01/49) |
277 | 176,488 | ||||||
3.30%, 04/01/27 (Call 01/01/27) |
175 | 164,526 | ||||||
3.90%, 10/01/25 (Call 07/01/25) |
167 | 162,726 | ||||||
4.35%, 04/01/47 (Call 10/01/46)(a) |
474 | 400,483 | ||||||
5.10%, 10/01/35 (Call 04/01/35) |
182 | 176,420 | ||||||
5.85%, 06/15/41 |
215 | 218,747 | ||||||
Intel Corp. |
||||||||
1.60%, 08/12/28 (Call 06/12/28) |
370 | 305,361 | ||||||
2.00%, 08/12/31 (Call 05/12/31) |
270 | 206,331 | ||||||
2.45%, 11/15/29 (Call 08/15/29) |
783 | 649,647 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Semiconductors (continued) | ||||||||
2.60%, 05/19/26 (Call 02/19/26) |
$ | 544 | $ | 503,309 | ||||
2.80%, 08/12/41 (Call 02/12/41) |
305 | 196,478 | ||||||
2.88%, 05/11/24 (Call 03/11/24) |
694 | 673,326 | ||||||
3.05%, 08/12/51 (Call 02/12/51) |
515 | 311,297 | ||||||
3.10%, 02/15/60 (Call 08/15/59) |
244 | 138,548 | ||||||
3.15%, 05/11/27 (Call 02/11/27) |
525 | 484,890 | ||||||
3.20%, 08/12/61 (Call 02/12/61) |
150 | 86,747 | ||||||
3.25%, 11/15/49 (Call 05/15/49) |
737 | 462,276 | ||||||
3.40%, 03/25/25 (Call 02/25/25) |
765 | 739,242 | ||||||
3.70%, 07/29/25 (Call 04/29/25) |
630 | 611,598 | ||||||
3.73%, 12/08/47 (Call 06/08/47) |
704 | 490,012 | ||||||
3.75%, 03/25/27 (Call 01/25/27) |
300 | 284,688 | ||||||
3.75%, 08/05/27 (Call 07/05/27) |
75 | 70,580 | ||||||
3.90%, 03/25/30 (Call 12/25/29) |
583 | 528,093 | ||||||
4.00%, 08/05/29 (Call 06/05/29) |
290 | 267,789 | ||||||
4.00%, 12/15/32(a) |
269 | 237,285 | ||||||
4.10%, 05/19/46 (Call 11/19/45) |
435 | 327,868 | ||||||
4.10%, 05/11/47 (Call 11/11/46) |
325 | 242,232 | ||||||
4.15%, 08/05/32 (Call 05/05/32)(a) |
295 | 263,854 | ||||||
4.25%, 12/15/42 |
300 | 235,467 | ||||||
4.60%, 03/25/40 (Call 09/25/39) |
271 | 229,003 | ||||||
4.75%, 03/25/50 (Call 09/25/49) |
665 | 540,186 | ||||||
4.80%, 10/01/41 |
215 | 184,603 | ||||||
4.90%, 07/29/45 (Call 01/29/45)(a) |
267 | 228,451 | ||||||
4.90%, 08/05/52 (Call 02/05/52) |
595 | 495,135 | ||||||
4.95%, 03/25/60 (Call 09/25/59)(a) |
177 | 143,108 | ||||||
5.05%, 08/05/62 (Call 02/05/62) |
205 | 167,079 | ||||||
KLA Corp. |
||||||||
3.30%, 03/01/50 (Call 08/28/49) |
305 | 205,436 | ||||||
4.10%, 03/15/29 (Call 12/15/28) |
60 | 56,452 | ||||||
4.65%, 11/01/24 (Call 08/01/24) |
184 | 183,122 | ||||||
4.65%, 07/15/32 (Call 04/15/32) |
480 | 455,568 | ||||||
4.95%, 07/15/52 (Call 01/15/52) |
435 | 379,498 | ||||||
5.25%, 07/15/62 (Call 01/15/62) |
120 | 105,887 | ||||||
Lam Research Corp. |
||||||||
1.90%, 06/15/30 (Call 03/15/30) |
150 | 117,728 | ||||||
2.88%, 06/15/50 (Call 12/15/49) |
236 | 147,375 | ||||||
3.13%, 06/15/60 (Call 12/15/59) |
227 | 136,681 | ||||||
3.75%, 03/15/26 (Call 01/15/26) |
135 | 129,539 | ||||||
3.80%, 03/15/25 (Call 12/15/24) |
220 | 214,223 | ||||||
4.00%, 03/15/29 (Call 12/15/28) |
365 | 338,475 | ||||||
4.88%, 03/15/49 (Call 09/15/48)(a) |
262 | 231,377 | ||||||
NVIDIA Corp. |
||||||||
0.58%, 06/14/24 (Call 06/14/23) |
185 | 172,598 | ||||||
1.55%, 06/15/28 (Call 04/15/28) |
310 | 256,212 | ||||||
2.00%, 06/15/31 (Call 03/15/31) |
475 | 369,711 | ||||||
2.85%, 04/01/30 (Call 01/01/30) |
206 | 175,487 | ||||||
3.20%, 09/16/26 (Call 06/16/26) |
344 | 324,031 | ||||||
3.50%, 04/01/40 (Call 10/01/39) |
427 | 324,140 | ||||||
3.50%, 04/01/50 (Call 10/01/49) |
487 | 345,746 | ||||||
3.70%, 04/01/60 (Call 10/01/59) |
225 | 153,430 | ||||||
QUALCOMM Inc. |
||||||||
1.30%, 05/20/28 (Call 02/20/28) |
402 | 329,065 | ||||||
1.65%, 05/20/32 (Call 02/20/32) |
445 | 334,591 | ||||||
2.15%, 05/20/30 (Call 02/20/30) |
391 | 320,929 | ||||||
2.90%, 05/20/24 (Call 03/20/24) |
276 | 267,549 | ||||||
3.25%, 05/20/27 (Call 02/20/27) |
120 | 111,469 | ||||||
3.25%, 05/20/50 (Call 11/20/49)(a) |
163 | 112,247 | ||||||
3.45%, 05/20/25 (Call 02/20/25) |
307 | 296,144 | ||||||
4.25%, 05/20/32 (Call 02/20/32) |
205 | 192,501 |
Security |
Par (000) |
Value | ||||||
Semiconductors (continued) | ||||||||
4.30%, 05/20/47 (Call 11/20/46)(a) |
$ | 489 | $ | 400,471 | ||||
4.50%, 05/20/52 (Call 11/20/51) |
240 | 198,984 | ||||||
4.65%, 05/20/35 (Call 11/20/34) |
366 | 338,356 | ||||||
4.80%, 05/20/45 (Call 11/20/44) |
617 | 545,249 | ||||||
Texas Instruments Inc. |
||||||||
1.13%, 09/15/26 (Call 08/15/26) |
155 | 134,895 | ||||||
1.38%, 03/12/25 (Call 02/12/25) |
190 | 175,824 | ||||||
1.75%, 05/04/30 (Call 02/04/30) |
229 | 182,277 | ||||||
1.90%, 09/15/31 (Call 06/15/31) |
180 | 140,805 | ||||||
2.25%, 09/04/29 (Call 06/04/29) |
245 | 206,283 | ||||||
2.70%, 09/15/51 (Call 03/15/51)(a) |
100 | 64,147 | ||||||
2.90%, 11/03/27 (Call 08/03/27) |
46 | 41,950 | ||||||
3.65%, 08/16/32 (Call 05/16/32) |
75 | 67,229 | ||||||
3.88%, 03/15/39 (Call 09/15/38) |
277 | 231,035 | ||||||
4.10%, 08/16/52 (Call 02/16/52) |
145 | 119,176 | ||||||
4.15%, 05/15/48 (Call 11/15/47) |
481 | 396,825 | ||||||
TSMC Arizona Corp. |
||||||||
1.75%, 10/25/26 (Call 09/25/26) |
355 | 306,525 | ||||||
2.50%, 10/25/31 (Call 07/25/31) |
530 | 411,248 | ||||||
3.13%, 10/25/41 (Call 04/25/41) |
260 | 181,415 | ||||||
3.25%, 10/25/51 (Call 04/25/51)(a) |
440 | 286,431 | ||||||
3.88%, 04/22/27 (Call 03/22/27) |
255 | 238,703 | ||||||
4.13%, 04/22/29 (Call 02/22/29) |
15 | 13,857 | ||||||
4.25%, 04/22/32 (Call 01/22/32) |
245 | 218,783 | ||||||
4.50%, 04/22/52 (Call 10/22/51) |
225 | 184,187 | ||||||
Xilinx Inc. |
||||||||
2.38%, 06/01/30 (Call 03/01/30) |
173 | 141,057 | ||||||
2.95%, 06/01/24 (Call 04/01/24) |
69 | 66,803 | ||||||
|
|
|||||||
25,287,747 | ||||||||
Software — 1.8% | ||||||||
Adobe Inc. |
||||||||
1.90%, 02/01/25 (Call 01/01/25) |
153 | 143,685 | ||||||
2.15%, 02/01/27 (Call 12/01/26) |
319 | 286,631 | ||||||
2.30%, 02/01/30 (Call 11/01/29) |
270 | 224,351 | ||||||
3.25%, 02/01/25 (Call 11/01/24) |
125 | 120,915 | ||||||
Intuit Inc. |
||||||||
0.95%, 07/15/25 (Call 06/15/25) |
23 | 20,704 | ||||||
1.35%, 07/15/27 (Call 05/15/27) |
55 | 46,451 | ||||||
1.65%, 07/15/30 (Call 04/15/30) |
390 | 301,466 | ||||||
Microsoft Corp. |
||||||||
2.40%, 08/08/26 (Call 05/08/26)(a) |
816 | 755,020 | ||||||
2.53%, 06/01/50 (Call 12/01/49) |
2,037 | 1,280,010 | ||||||
2.68%, 06/01/60 (Call 12/01/59) |
993 | 599,673 | ||||||
2.70%, 02/12/25 (Call 11/12/24) |
868 | 833,549 | ||||||
2.88%, 02/06/24 (Call 12/06/23) |
502 | 491,142 | ||||||
2.92%, 03/17/52 (Call 09/17/51) |
2,094 | 1,417,784 | ||||||
3.04%, 03/17/62 (Call 09/17/61) |
724 | 471,672 | ||||||
3.13%, 11/03/25 (Call 08/03/25) |
852 | 819,718 | ||||||
3.30%, 02/06/27 (Call 11/06/26) |
1,210 | 1,150,734 | ||||||
3.45%, 08/08/36 (Call 02/08/36) |
285 | 244,322 | ||||||
3.50%, 02/12/35 (Call 08/12/34)(a) |
368 | 324,863 | ||||||
3.70%, 08/08/46 (Call 02/08/46) |
546 | 441,026 | ||||||
4.00%, 02/12/55 (Call 08/12/54) |
235 | 189,546 | ||||||
4.10%, 02/06/37 (Call 08/06/36) |
305 | 278,721 | ||||||
4.20%, 11/03/35 (Call 05/03/35)(a) |
370 | 344,918 | ||||||
4.25%, 02/06/47 (Call 08/06/46) |
235 | 206,351 | ||||||
4.45%, 11/03/45 (Call 05/03/45) |
200 | 180,580 | ||||||
4.50%, 02/06/57 (Call 08/06/56) |
220 | 194,414 | ||||||
5.20%, 06/01/39 |
175 | 176,974 | ||||||
5.30%, 02/08/41 |
330 | 334,719 |
66 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Software (continued) | ||||||||
salesforce.com Inc. |
||||||||
0.63%, 07/15/24 (Call 12/01/22) |
$ | 75 | $ | 69,856 | ||||
1.50%, 07/15/28 (Call 05/15/28)(a) |
345 | 288,517 | ||||||
1.95%, 07/15/31 (Call 04/15/31)(a) |
510 | 398,453 | ||||||
2.70%, 07/15/41 (Call 01/15/41) |
495 | 337,694 | ||||||
2.90%, 07/15/51 (Call 01/15/51)(a) |
510 | 328,205 | ||||||
3.05%, 07/15/61 (Call 01/15/61) |
390 | 238,547 | ||||||
3.70%, 04/11/28 (Call 01/11/28)(a) |
543 | 512,451 | ||||||
|
|
|||||||
14,053,662 | ||||||||
Telecommunications — 0.6% | ||||||||
America Movil SAB de CV |
||||||||
2.88%, 05/07/30 (Call 02/07/30) |
295 | 243,263 | ||||||
3.63%, 04/22/29 (Call 01/22/29)(a) |
415 | 366,652 | ||||||
4.38%, 07/16/42 |
459 | 360,072 | ||||||
4.38%, 04/22/49 (Call 10/22/48)(a) |
350 | 273,875 | ||||||
4.70%, 07/21/32 (Call 04/21/32)(a) |
235 | 215,916 | ||||||
6.13%, 03/30/40 |
507 | 486,558 | ||||||
6.38%, 03/01/35 |
252 | 254,066 | ||||||
Cisco Systems Inc. |
||||||||
2.50%, 09/20/26 (Call 06/20/26)(a) |
593 | 548,406 | ||||||
2.95%, 02/28/26 |
167 | 157,650 | ||||||
3.50%, 06/15/25 |
348 | 338,051 | ||||||
3.63%, 03/04/24 |
301 | 296,482 | ||||||
5.50%, 01/15/40 |
626 | 614,682 | ||||||
5.90%, 02/15/39 |
618 | 631,645 | ||||||
|
|
|||||||
4,787,318 | ||||||||
Transportation — 2.4% | ||||||||
Burlington Northern Santa Fe LLC |
||||||||
2.88%, 06/15/52 (Call 12/15/51) |
90 | 56,363 | ||||||
3.00%, 04/01/25 (Call 01/01/25)(a) |
5 | 4,783 | ||||||
3.05%, 02/15/51 (Call 08/15/50) |
270 | 175,783 | ||||||
3.25%, 06/15/27 (Call 03/15/27) |
379 | 351,333 | ||||||
3.30%, 09/15/51 (Call 03/15/51) |
86 | 58,766 | ||||||
3.40%, 09/01/24 (Call 06/01/24) |
232 | 225,112 | ||||||
3.55%, 02/15/50 (Call 08/15/49) |
311 | 223,721 | ||||||
3.75%, 04/01/24 (Call 01/01/24)(a) |
485 | 476,512 | ||||||
3.90%, 08/01/46 (Call 02/01/46) |
178 | 136,809 | ||||||
4.05%, 06/15/48 (Call 12/15/47) |
313 | 245,846 | ||||||
4.13%, 06/15/47 (Call 12/15/46) |
310 | 247,067 | ||||||
4.15%, 04/01/45 (Call 10/01/44) |
312 | 249,584 | ||||||
4.15%, 12/15/48 (Call 06/15/48) |
240 | 191,626 | ||||||
4.38%, 09/01/42 (Call 03/01/42) |
147 | 122,891 | ||||||
4.40%, 03/15/42 (Call 09/15/41) |
242 | 203,149 | ||||||
4.45%, 03/15/43 (Call 09/15/42) |
247 | 208,967 | ||||||
4.45%, 01/15/53 (Call 07/15/52) |
240 | 201,509 | ||||||
4.55%, 09/01/44 (Call 03/01/44) |
290 | 246,306 | ||||||
4.70%, 09/01/45 (Call 03/01/45) |
268 | 230,011 | ||||||
4.90%, 04/01/44 (Call 10/01/43) |
344 | 307,742 | ||||||
5.05%, 03/01/41 (Call 09/01/40) |
237 | 217,241 | ||||||
5.15%, 09/01/43 (Call 03/01/43) |
154 | 142,447 | ||||||
5.40%, 06/01/41 (Call 12/01/40) |
230 | 219,116 | ||||||
5.75%, 05/01/40 (Call 11/01/39) |
96 | 94,952 | ||||||
6.15%, 05/01/37 |
245 | 256,030 | ||||||
Canadian National Railway Co. |
||||||||
2.45%, 05/01/50 (Call 11/01/49) |
220 | 127,224 | ||||||
2.75%, 03/01/26 (Call 12/01/25) |
366 | 338,202 | ||||||
3.20%, 08/02/46 (Call 02/02/46)(a) |
181 | 123,131 | ||||||
3.65%, 02/03/48 (Call 08/03/47)(a) |
241 | 179,147 | ||||||
3.85%, 08/05/32 (Call 05/05/32) |
270 | 243,856 |
Security |
Par (000) |
Value | ||||||
Transportation (continued) | ||||||||
4.40%, 08/05/52 (Call 02/05/52) |
$ | 145 | $ | 120,668 | ||||
4.45%, 01/20/49 (Call 07/20/48) |
246 | 206,460 | ||||||
6.25%, 08/01/34 |
170 | 178,962 | ||||||
FedEx
Corp. Class AA Pass Through Trust, Series |
406 | 323,227 | ||||||
Union Pacific Corp. |
||||||||
2.15%, 02/05/27 (Call 12/05/26) |
40 | 35,622 | ||||||
2.38%, 05/20/31 (Call 02/20/31) |
370 | 299,774 | ||||||
2.40%, 02/05/30 (Call 11/05/29) |
215 | 178,861 | ||||||
2.75%, 03/01/26 (Call 12/01/25)(a) |
210 | 195,548 | ||||||
2.80%, 02/14/32 (Call 12/15/31)(a) |
440 | 364,558 | ||||||
2.89%, 04/06/36 (Call 01/06/36) |
290 | 220,536 | ||||||
2.95%, 03/10/52 (Call 09/10/51) |
270 | 170,724 | ||||||
2.97%, 09/16/62 (Call 03/16/62) |
460 | 269,146 | ||||||
3.00%, 04/15/27 (Call 01/15/27)(a) |
55 | 50,450 | ||||||
3.15%, 03/01/24 (Call 02/01/24) |
280 | 273,484 | ||||||
3.20%, 05/20/41 (Call 11/20/40) |
20 | 14,632 | ||||||
3.25%, 08/15/25 (Call 05/15/25) |
15 | 14,329 | ||||||
3.25%, 02/05/50 (Call 08/05/49) |
625 | 427,037 | ||||||
3.38%, 02/14/42 (Call 08/14/41)(a) |
220 | 164,105 | ||||||
3.50%, 02/14/53 (Call 08/14/52) |
390 | 272,832 | ||||||
3.55%, 08/15/39 (Call 02/15/39) |
295 | 229,793 | ||||||
3.55%, 05/20/61 (Call 11/20/60) |
205 | 136,661 | ||||||
3.60%, 09/15/37 (Call 03/15/37) |
135 | 108,460 | ||||||
3.70%, 03/01/29 (Call 12/01/28)(a) |
395 | 363,238 | ||||||
3.75%, 07/15/25 (Call 05/15/25) |
160 | 155,139 | ||||||
3.75%, 02/05/70 (Call 08/05/69)(a) |
30 | 20,010 | ||||||
3.80%, 10/01/51 (Call 04/01/51) |
390 | 292,555 | ||||||
3.80%, 04/06/71 (Call 10/06/70) |
230 | 155,968 | ||||||
3.84%, 03/20/60 (Call 09/20/59) |
665 | 473,812 | ||||||
3.85%, 02/14/72 (Call 08/14/71) |
145 | 98,931 | ||||||
3.95%, 09/10/28 (Call 06/10/28) |
515 | 484,811 | ||||||
3.95%, 08/15/59 (Call 02/15/59) |
155 | 112,840 | ||||||
4.00%, 04/15/47 (Call 10/15/46) |
200 | 154,012 | ||||||
4.05%, 03/01/46 (Call 09/01/45) |
220 | 171,246 | ||||||
4.10%, 09/15/67 (Call 03/15/67) |
200 | 144,894 | ||||||
4.30%, 03/01/49 (Call 09/01/48) |
255 | 205,127 | ||||||
4.50%, 01/20/33 (Call 10/20/32) |
30 | 28,288 | ||||||
4.95%, 09/09/52 (Call 03/09/52)(a) |
200 | 180,430 | ||||||
United Parcel Service Inc. |
||||||||
2.40%, 11/15/26 (Call 08/15/26) |
374 | 339,715 | ||||||
2.80%, 11/15/24 (Call 09/15/24) |
50 | 47,931 | ||||||
3.05%, 11/15/27 (Call 08/15/27)(a) |
548 | 503,705 | ||||||
3.40%, 03/15/29 (Call 12/15/28) |
378 | 344,426 | ||||||
3.40%, 11/15/46 (Call 05/15/46) |
200 | 143,182 | ||||||
3.40%, 09/01/49 (Call 03/01/49)(a) |
218 | 157,387 | ||||||
3.75%, 11/15/47 (Call 05/15/47) |
413 | 320,513 | ||||||
3.90%, 04/01/25 (Call 03/01/25) |
92 | 90,033 | ||||||
4.25%, 03/15/49 (Call 09/15/48) |
138 | 114,351 | ||||||
4.45%, 04/01/30 (Call 01/01/30) |
346 | 332,506 | ||||||
4.88%, 11/15/40 (Call 05/15/40) |
171 | 156,839 | ||||||
5.20%, 04/01/40 (Call 10/01/39) |
263 | 251,488 | ||||||
5.30%, 04/01/50 (Call 10/01/49)(a) |
119 | 116,436 | ||||||
6.20%, 01/15/38 |
486 | 515,189 | ||||||
Walmart Inc. |
||||||||
1.05%, 09/17/26 (Call 08/17/26) |
535 | 465,926 | ||||||
1.50%, 09/22/28 (Call 07/22/28) |
545 | 455,326 | ||||||
1.80%, 09/22/31 (Call 06/22/31)(a) |
910 | 720,219 |
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 (continued) October 31, 2022 |
iShares® Aaa - A Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par/ Shares (000) |
Value | ||||||
|
||||||||
Transportation (continued) | ||||||||
3.95%, 09/09/27 (Call 08/09/27) |
$ | 100 | $ | 96,827 | ||||
|
|
|||||||
18,574,395 | ||||||||
|
|
|||||||
Total
Long-Term Investments — 98.3% |
|
760,582,892 | ||||||
|
|
|||||||
Short-Term Securities |
||||||||
Money Market Funds — 7.8% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.29%(d)(e)(f) |
58,858 | 58,846,512 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.97%(d)(e) |
1,497 | 1,497,000 | ||||||
|
|
|||||||
Total
Short-Term Securities — 7.8% |
|
60,343,512 | ||||||
|
|
|||||||
Total
Investments — 106.1% |
|
820,926,404 | ||||||
Liabilities in Excess of Other Assets — (6.1)% |
|
(47,007,857 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 773,918,547 | ||||||
|
|
(a) |
All or a portion of this security is on loan. |
(b) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(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) |
Affiliate of the Fund. |
(e) |
Annualized 7-day yield as of period end. |
(f) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer |
Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 80,001,921 | $ | — | $ | (21,101,619 | )(a) | $ | (40,907 | ) | $ | (12,883 | ) | $ | 58,846,512 | 58,858 | $ | 191,674 | (b) | $ | — | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
10,637,000 | — | (9,140,000 | )(a) | — | — | 1,497,000 | 1,497 | 37,406 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (40,907 | ) | $ | (12,883 | ) | $ | 60,343,512 | $ | 229,080 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Corporate Bonds & Notes |
$ | — | $ | 760,582,892 | $ | — | $ | 760,582,892 | ||||||||
Money Market Funds |
60,343,512 | — | — | 60,343,512 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 60,343,512 | $ | 760,582,892 | $ | — | $ | 820,926,404 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
68 |
2 0 2 2 I S H A R E S 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 October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Corporate Bonds & Notes |
||||||||
Advertising — 0.3% | ||||||||
Lamar Media Corp. |
||||||||
3.63%, 01/15/31 (Call 01/15/26) |
$ | 310 | $ | 252,650 | ||||
3.75%, 02/15/28 (Call 02/15/23) |
325 | 285,220 | ||||||
4.00%, 02/15/30 (Call 02/15/25)(a) |
310 | 263,224 | ||||||
4.88%, 01/15/29 (Call 01/15/24)(a) |
225 | 203,558 | ||||||
|
|
|||||||
1,004,652 | ||||||||
Aerospace & Defense — 1.2% | ||||||||
Hexcel Corp. |
||||||||
4.20%, 02/15/27 (Call 11/15/26) |
200 | 182,142 | ||||||
4.95%, 08/15/25 (Call 05/15/25) |
175 | 167,772 | ||||||
Howmet Aerospace Inc. |
||||||||
3.00%, 01/15/29 (Call 11/15/28) |
350 | 291,333 | ||||||
5.13%, 10/01/24 (Call 07/01/24) |
580 | 572,750 | ||||||
5.90%, 02/01/27 |
354 | 347,635 | ||||||
5.95%, 02/01/37(a) |
372 | 340,774 | ||||||
6.75%, 01/15/28 |
175 | 174,725 | ||||||
6.88%, 05/01/25 (Call 04/01/25) |
350 | 357,773 | ||||||
Moog Inc., 4.25%, 12/15/27 (Call 12/15/22)(b) |
225 | 201,344 | ||||||
Rolls-Royce PLC |
||||||||
3.63%, 10/14/25 (Call 07/14/25)(b) |
575 | 505,827 | ||||||
5.75%, 10/15/27 (Call 07/15/27)(b) |
540 | 488,684 | ||||||
Spirit AeroSystems Inc. |
||||||||
3.85%, 06/15/26 (Call 03/15/26) |
200 | 180,000 | ||||||
5.50%, 01/15/25 (Call 12/01/22)(a)(b) |
175 | 168,875 | ||||||
|
|
|||||||
3,979,634 | ||||||||
Agriculture — 0.4% | ||||||||
Darling Ingredients Inc. |
||||||||
5.25%, 04/15/27 (Call 11/14/22)(b) |
242 | 232,320 | ||||||
6.00%, 06/15/30 (Call 06/15/25)(b) |
560 | 539,000 | ||||||
Turning
Point Brands Inc., 5.63%, 02/15/26 |
125 | 109,272 | ||||||
Vector
Group Ltd., 5.75%, 02/01/29 |
510 | 446,250 | ||||||
|
|
|||||||
1,326,842 | ||||||||
Airlines — 2.4% | ||||||||
Air Canada, 3.88%, 08/15/26 (Call 02/15/26)(b) |
655 | 579,557 | ||||||
Allegiant Travel Co., 7.25%, 08/15/27 (Call 08/15/24)(b) |
335 | 314,915 | ||||||
American Airlines Inc./AAdvantage Loyalty IP Ltd. |
||||||||
5.50%, 04/20/26(b) |
2,015 | 1,918,928 | ||||||
5.75%, 04/20/29(b) |
1,710 | 1,556,100 | ||||||
Delta Air Lines Inc. |
||||||||
2.90%, 10/28/24 (Call 09/28/24) |
455 | 429,975 | ||||||
3.75%, 10/28/29 (Call 07/28/29) |
295 | 242,956 | ||||||
4.38%, 04/19/28 (Call 01/19/28)(a) |
235 | 209,618 | ||||||
7.38%, 01/15/26 (Call 12/15/25) |
390 | 398,186 | ||||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25 (Call 09/20/23)(b) |
229 | 232,821 | ||||||
United Airlines Inc. |
||||||||
4.38%, 04/15/26 (Call 10/15/25)(b) |
1,160 | 1,058,683 | ||||||
4.63%, 04/15/29 (Call 10/15/28)(b) |
1,150 | 983,584 | ||||||
|
|
|||||||
7,925,323 | ||||||||
Apparel — 0.6% | ||||||||
Hanesbrands Inc. |
||||||||
4.63%, 05/15/24 (Call 02/15/24)(b) |
480 | 466,800 | ||||||
4.88%, 05/15/26 (Call 02/15/26)(a)(b) |
475 | 435,813 | ||||||
Kontoor Brands Inc., 4.13%, 11/15/29 (Call 11/15/24)(b) |
250 | 200,447 | ||||||
Levi Strauss & Co., 3.50%, 03/01/31 (Call 03/01/26)(a)(b) |
280 | 223,987 | ||||||
Under
Armour Inc., 3.25%, 06/15/26 |
320 | 276,000 | ||||||
William Carter Co. (The), 5.63%, 03/15/27 (Call 12/01/22)(b) |
275 | 261,436 |
Security | Par (000) |
Value | ||||||
Apparel (continued) | ||||||||
Wolverine World Wide Inc., 4.00%, 08/15/29 (Call 08/15/24)(a)(b) |
$ | 320 | $ | 252,800 | ||||
|
|
|||||||
2,117,283 | ||||||||
Auto Manufacturers — 2.3% | ||||||||
Allison Transmission Inc. |
||||||||
3.75%, 01/30/31 (Call 01/30/26)(b) |
570 | 454,721 | ||||||
4.75%, 10/01/27 (Call 11/14/22)(b) |
175 | 161,110 | ||||||
5.88%, 06/01/29 (Call 06/01/24)(b) |
310 | 289,075 | ||||||
Ford Holdings LLC, 9.30%, 03/01/30 |
200 | 224,000 | ||||||
Ford Motor Co. |
||||||||
3.25%, 02/12/32 (Call 11/12/31) |
470 | 352,885 | ||||||
4.35%, 12/08/26 (Call 09/08/26)(a) |
260 | 241,810 | ||||||
4.75%, 01/15/43 |
450 | 313,407 | ||||||
5.29%, 12/08/46 (Call 06/08/46) |
135 | 99,945 | ||||||
6.10%, 08/19/32 (Call 05/19/32) |
520 | 475,959 | ||||||
6.63%, 10/01/28 |
50 | 49,322 | ||||||
7.40%, 11/01/46 |
75 | 69,058 | ||||||
7.45%, 07/16/31(a) |
160 | 160,565 | ||||||
9.63%, 04/22/30 (Call 01/22/30) |
100 | 111,630 | ||||||
Ford Motor Credit Co. LLC |
||||||||
2.30%, 02/10/25 (Call 01/10/25) |
310 | 280,395 | ||||||
2.70%, 08/10/26 (Call 07/10/26) |
300 | 259,944 | ||||||
2.90%, 02/16/28 (Call 12/16/27) |
125 | 101,473 | ||||||
2.90%, 02/10/29 (Call 12/10/28) |
250 | 195,985 | ||||||
3.37%, 11/17/23 |
250 | 241,298 | ||||||
3.38%, 11/13/25 (Call 10/13/25) |
185 | 167,834 | ||||||
3.63%, 06/17/31 (Call 03/17/31) |
125 | 97,209 | ||||||
3.66%, 09/08/24 |
250 | 236,976 | ||||||
3.81%, 01/09/24 (Call 11/09/23) |
160 | 154,500 | ||||||
3.82%, 11/02/27 (Call 08/02/27) |
200 | 171,790 | ||||||
4.00%, 11/13/30 (Call 08/13/30) |
225 | 181,975 | ||||||
4.06%, 11/01/24 (Call 10/01/24) |
400 | 383,500 | ||||||
4.13%, 08/04/25 |
300 | 278,940 | ||||||
4.13%, 08/17/27 (Call 06/17/27) |
300 | 266,415 | ||||||
4.27%, 01/09/27 (Call 11/09/26) |
300 | 270,867 | ||||||
4.39%, 01/08/26(a) |
100 | 92,269 | ||||||
4.69%, 06/09/25 (Call 04/09/25) |
200 | 189,500 | ||||||
4.95%, 05/28/27 (Call 04/28/27) |
225 | 205,978 | ||||||
5.11%, 05/03/29 (Call 02/03/29) |
250 | 223,500 | ||||||
5.13%, 06/16/25 (Call 05/16/25) |
250 | 241,200 | ||||||
5.58%, 03/18/24 (Call 02/18/24) |
200 | 196,977 | ||||||
|
|
|||||||
7,442,012 | ||||||||
Auto Parts & Equipment — 0.9% | ||||||||
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 12/01/22)(b) |
200 | 194,470 | ||||||
Dana Inc. |
||||||||
4.25%, 09/01/30 (Call 05/01/26)(a) |
239 | 191,429 | ||||||
4.50%, 02/15/32 (Call 02/15/27) |
175 | 133,802 | ||||||
5.38%, 11/15/27 (Call 11/15/22)(a) |
232 | 209,960 | ||||||
5.63%, 06/15/28 (Call 06/15/23) |
250 | 226,250 | ||||||
Goodyear
Tire & Rubber Co. (The),
5.00%, 07/15/29 |
479 | 415,365 | ||||||
IHO Verwaltungs GmbH |
||||||||
4.75%, 09/15/26
(Call 11/11/22), |
350 | 294,741 | ||||||
6.00%, 05/15/27
(Call 11/11/22), |
365 | 313,444 | ||||||
6.38%, 05/15/29 (Call 05/15/24), (7.13% PIK)(b)(c) |
175 | 149,333 | ||||||
Tenneco Inc. |
||||||||
5.13%, 04/15/29 (Call 04/15/24)(b) |
205 | 202,650 | ||||||
7.88%, 01/15/29 (Call 01/15/24)(b) |
115 | 113,609 |
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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Auto Parts & Equipment (continued) | ||||||||
ZF North America Capital Inc., 4.75%, 04/29/25(b) |
$ | 525 | $ | 490,811 | ||||
|
|
|||||||
2,935,864 | ||||||||
Banks — 2.0% | ||||||||
Deutsche Bank AG, 4.50%, 04/01/25 |
485 | 451,280 | ||||||
Deutsche Bank AG/New York NY |
||||||||
3.73%, 01/14/32
(Call 10/14/30), |
260 | 183,149 | ||||||
5.88%, 07/08/31
(Call 04/08/30), |
210 | 172,620 | ||||||
Dresdner Funding Trust I, 8.15%, 06/30/31 (Call 06/30/29)(b) |
575 | 587,219 | ||||||
Intesa Sanpaolo SpA |
||||||||
4.20%, 06/01/32 (Call 06/01/31)(b)(d) |
400 | 270,773 | ||||||
4.95%, 06/01/42 (Call 06/01/41)(b)(d) |
385 | 225,315 | ||||||
5.02%, 06/26/24(b) |
995 | 939,270 | ||||||
5.71%, 01/15/26(b) |
935 | 870,985 | ||||||
Pacific
Western Bank, 3.25%, 05/01/31 |
225 | 202,513 | ||||||
Standard
Chartered PLC, 7.01%, (Call 07/30/37), |
425 | 403,251 | ||||||
Synovus Financial Corp., 5.90%, 02/07/29 (Call 02/07/24)(d) |
198 | 193,807 | ||||||
Texas Capital Bancshares Inc., 4.00%, 05/06/31 (Call 05/06/26)(d) |
250 | 216,479 | ||||||
UniCredit SpA |
||||||||
5.46%, 06/30/35 (Call 06/30/30)(b)(d) |
770 | 573,712 | ||||||
5.86%, 06/19/32 (Call 06/19/27)(a)(b)(d) |
675 | 559,259 | ||||||
7.30%, 04/02/34 (Call 04/02/29)(b)(d) |
695 | 589,666 | ||||||
|
|
|||||||
6,439,298 | ||||||||
Building Materials — 1.5% | ||||||||
Boise
Cascade Co., 4.88%, 07/01/30 |
245 | 204,950 | ||||||
Builders FirstSource Inc. |
||||||||
4.25%, 02/01/32 (Call 08/01/26)(b) |
730 | 584,146 | ||||||
5.00%, 03/01/30 (Call 03/01/25)(b) |
325 | 279,121 | ||||||
6.38%, 06/15/32 (Call 06/15/27)(b) |
380 | 349,486 | ||||||
James Hardie International Finance DAC, 5.00%, 01/15/28 (Call 01/15/23)(b) |
230 | 208,004 | ||||||
Jeld-Wen Inc., 6.25%, 05/15/25 (Call 12/01/22)(b) |
75 | 70,125 | ||||||
Louisiana-Pacific Corp., 3.63%, 03/15/29 (Call 03/15/24)(b) |
185 | 150,441 | ||||||
Masonite International Corp. |
||||||||
3.50%, 02/15/30 (Call 08/15/29)(a)(b) |
195 | 154,967 | ||||||
5.38%, 02/01/28 (Call 02/01/23)(a)(b) |
310 | 283,793 | ||||||
Standard Industries Inc./NJ |
||||||||
3.38%, 01/15/31 (Call 07/15/25)(b) |
625 | 467,625 | ||||||
4.38%, 07/15/30 (Call 07/15/25)(b) |
900 | 727,695 | ||||||
4.75%, 01/15/28 (Call 01/15/23)(a)(b) |
600 | 525,750 | ||||||
5.00%, 02/15/27 (Call 12/01/22)(a)(b) |
445 | 402,725 | ||||||
Summit Materials LLC/Summit Materials Finance Corp. |
||||||||
5.25%, 01/15/29 (Call 07/15/23)(b) |
375 | 342,454 | ||||||
6.50%, 03/15/27 (Call 11/14/22)(b) |
175 | 167,918 | ||||||
|
|
|||||||
4,919,200 | ||||||||
Chemicals — 2.5% | ||||||||
Ashland LLC |
||||||||
3.38%, 09/01/31 (Call 06/01/31)(b) |
230 | 179,947 | ||||||
6.88%, 05/15/43 (Call 02/15/43) |
168 | 158,122 | ||||||
Avient Corp. |
||||||||
5.75%, 05/15/25 (Call 12/01/22)(b) |
385 | 376,884 | ||||||
7.13%, 08/01/30 (Call 08/01/25)(b) |
390 | 372,945 | ||||||
Chemours Co. (The) |
||||||||
4.63%, 11/15/29 (Call 11/15/24)(a)(b) |
375 | 292,500 | ||||||
5.38%, 05/15/27 (Call 02/15/27) |
254 | 227,437 | ||||||
5.75%, 11/15/28 (Call 11/15/23)(b) |
450 | 382,275 | ||||||
Element Solutions Inc., 3.88%, 09/01/28 (Call 09/01/23)(b) |
455 | 386,750 |
Security | Par (000) |
Value | ||||||
Chemicals (continued) | ||||||||
HB Fuller Co. |
||||||||
4.00%, 02/15/27 (Call 11/15/26) |
$ | 125 | $ | 114,375 | ||||
4.25%, 10/15/28 (Call 10/15/23) |
175 | 151,375 | ||||||
INEOS Quattro Finance 2 PLC., 3.38%, 01/15/26 (Call 01/15/23)(b) |
400 | 338,288 | ||||||
Ingevity Corp., 3.88%, 11/01/28 (Call 11/01/23)(a)(b) |
290 | 244,794 | ||||||
Methanex Corp. |
||||||||
4.25%, 12/01/24 (Call 09/01/24) |
125 | 120,966 | ||||||
5.13%, 10/15/27 (Call 04/15/27) |
435 | 396,720 | ||||||
5.25%, 12/15/29 (Call 09/15/29)(a) |
400 | 342,304 | ||||||
5.65%, 12/01/44 (Call 06/01/44) |
165 | 113,438 | ||||||
Minerals Technologies Inc., 5.00%, 07/01/28 (Call 07/01/23)(b) |
195 | 169,406 | ||||||
NOVA Chemicals Corp. |
||||||||
4.25%, 05/15/29 (Call 05/15/24)(a)(b) |
366 | 298,486 | ||||||
4.88%, 06/01/24 (Call 03/03/24)(b) |
610 | 593,225 | ||||||
5.00%, 05/01/25 (Call 01/31/25)(b) |
230 | 219,050 | ||||||
5.25%, 06/01/27 (Call 03/03/27)(b) |
595 | 531,085 | ||||||
Nufarm Australia Ltd./Nufarm Americas Inc., 5.00%, 01/27/30 (Call 01/27/25)(b) |
175 | 148,034 | ||||||
Olin Corp. |
||||||||
5.00%, 02/01/30 (Call 02/01/24)(a) |
225 | 203,625 | ||||||
5.13%, 09/15/27 (Call 12/01/22)(a) |
260 | 243,750 | ||||||
5.63%, 08/01/29 (Call 08/01/24) |
400 | 375,920 | ||||||
SPCM SA |
||||||||
3.13%, 03/15/27 (Call 03/15/24)(b) |
275 | 241,656 | ||||||
3.38%, 03/15/30 (Call 03/15/25)(b) |
125 | 99,688 | ||||||
Valvoline Inc. |
||||||||
3.63%, 06/15/31 (Call 06/15/26)(b) |
275 | 216,975 | ||||||
4.25%, 02/15/30 (Call 02/15/25)(b) |
275 | 264,687 | ||||||
WR Grace Holdings LLC |
||||||||
4.88%, 06/15/27 (Call 06/15/23)(b) |
410 | 358,750 | ||||||
5.63%, 10/01/24(b) |
160 | 156,832 | ||||||
|
|
|||||||
8,320,289 | ||||||||
Coal — 0.1% | ||||||||
SunCoke
Energy Inc., 4.88%, 06/30/29 |
285 | 233,700 | ||||||
Warrior
Met Coal Inc., 7.88%, 12/01/28 |
175 | 172,552 | ||||||
|
|
|||||||
406,252 | ||||||||
Commercial Services — 3.7% | ||||||||
ADT Security Corp. (The) |
||||||||
4.13%, 08/01/29 (Call 08/01/28)(b) |
565 | 484,493 | ||||||
4.88%, 07/15/32(b) |
426 | 362,454 | ||||||
Albion Financing 1 SARL/Aggreko Holdings Inc., 6.13%, 10/15/26 (Call 10/15/23)(b) |
335 | 286,019 | ||||||
AMN Healthcare Inc. |
||||||||
4.00%, 04/15/29 (Call 04/15/24)(b) |
200 | 172,096 | ||||||
4.63%, 10/01/27 (Call 12/01/22)(b) |
300 | 280,677 | ||||||
ASGN Inc., 4.63%, 05/15/28 (Call 05/15/23)(b) |
285 | 253,431 | ||||||
Autopistas Metropolitanas de Puerto Rico LLC, 6.75%, 06/30/35(b) |
190 | 164,426 | ||||||
Block Inc. |
||||||||
2.75%, 06/01/26 (Call 05/01/26) |
500 | 445,920 | ||||||
3.50%, 06/01/31 (Call 03/01/31) |
555 | 446,775 | ||||||
Brink’s Co. (The) |
||||||||
4.63%, 10/15/27 (Call 12/01/22)(b) |
350 | 323,620 | ||||||
5.50%, 07/15/25 (Call 12/01/22)(b) |
200 | 194,585 | ||||||
CoreCivic Inc. |
||||||||
4.75%, 10/15/27 (Call 07/15/27) |
30 | 24,893 | ||||||
8.25%, 04/15/26 (Call 04/15/24)(a) |
290 | 294,241 |
70 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Commercial Services (continued) | ||||||||
Gartner Inc. |
||||||||
3.63%, 06/15/29 (Call 06/15/24)(b) |
$ | 340 | $ | 289,000 | ||||
3.75%, 10/01/30 (Call 10/01/25)(b) |
425 | 356,998 | ||||||
4.50%, 07/01/28 (Call 07/01/23)(b) |
450 | 417,028 | ||||||
Graham Holdings Co., 5.75%, 06/01/26 (Call 11/14/22)(b) |
200 | 195,000 | ||||||
Grand Canyon University |
||||||||
4.13%, 10/01/24 |
315 | 295,313 | ||||||
5.13%, 10/01/28 (Call 08/01/28) |
250 | 223,438 | ||||||
Korn Ferry, 4.63%, 12/15/27 (Call 12/15/22)(b) |
220 | 200,125 | ||||||
Prime Security Services Borrower LLC/Prime Finance Inc. |
||||||||
3.38%, 08/31/27 (Call 08/31/26)(b) |
600 | 519,295 | ||||||
5.25%, 04/15/24(b) |
350 | 348,341 | ||||||
5.75%, 04/15/26(b) |
760 | 739,746 | ||||||
Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 (Call 12/01/22)(b) |
175 | 172,375 | ||||||
Service Corp. International/U.S. |
||||||||
3.38%, 08/15/30 (Call 08/15/25) |
450 | 363,251 | ||||||
4.00%, 05/15/31 (Call 05/15/26) |
470 | 390,070 | ||||||
4.63%, 12/15/27 (Call 12/15/22) |
300 | 277,958 | ||||||
5.13%, 06/01/29 (Call 06/01/24) |
475 | 442,444 | ||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., 4.63%, 11/01/26 (Call 12/01/22)(a)(b) |
275 | 253,503 | ||||||
TriNet
Group Inc., 3.50%, 03/01/29 |
290 | 240,338 | ||||||
United Rentals North America Inc. |
||||||||
3.75%, 01/15/32 (Call 07/15/26) |
435 | 352,350 | ||||||
3.88%, 02/15/31 (Call 08/15/25)(a) |
645 | 534,705 | ||||||
4.00%, 07/15/30 (Call 07/15/25)(a) |
440 | 374,554 | ||||||
4.88%, 01/15/28 (Call 01/15/23) |
910 | 846,300 | ||||||
5.25%, 01/15/30 (Call 01/15/25) |
405 | 375,637 | ||||||
5.50%, 05/15/27 (Call 12/01/22)(a) |
320 | 312,222 | ||||||
|
|
|||||||
12,253,621 | ||||||||
Computers — 1.0% | ||||||||
Booz Allen Hamilton Inc. |
||||||||
3.88%, 09/01/28 (Call 09/01/23)(b) |
295 | 259,919 | ||||||
4.00%, 07/01/29 (Call 07/01/24)(b) |
329 | 287,583 | ||||||
Crowdstrike Holdings Inc., 3.00%, 02/15/29 (Call 02/15/24) |
450 | 379,313 | ||||||
KBR Inc., 4.75%, 09/30/28 (Call 09/30/23)(b) |
90 | 78,715 | ||||||
Seagate HDD Cayman |
||||||||
3.13%, 07/15/29 (Call 01/15/24) |
295 | 218,132 | ||||||
3.38%, 07/15/31 (Call 01/15/26) |
305 | 217,694 | ||||||
4.09%, 06/01/29 (Call 03/01/29) |
285 | 228,236 | ||||||
4.13%, 01/15/31 (Call 10/15/30) |
260 | 195,520 | ||||||
4.75%, 01/01/25 |
300 | 289,509 | ||||||
4.88%, 03/01/24 (Call 01/01/24) |
290 | 282,691 | ||||||
4.88%, 06/01/27 (Call 03/01/27) |
300 | 277,413 | ||||||
5.75%, 12/01/34 (Call 06/01/34)(a) |
273 | 222,011 | ||||||
Tempo
Acquisition LLC/Tempo Acquisition Finance Corp.,
5.75%, 06/01/25 |
75 | 73,704 | ||||||
Unisys Corp., 6.88%, 11/01/27 (Call 11/01/23)(a)(b) |
275 | 230,075 | ||||||
|
|
|||||||
3,240,515 | ||||||||
Cosmetics & Personal Care — 0.4% | ||||||||
Coty Inc., 5.00%, 04/15/26 (Call 04/15/23)(b) |
500 | 468,907 | ||||||
Coty Inc./HFC Prestige Products Inc./HFC Prestige International U.S. LLC, 4.75%, 01/15/29 (Call 01/15/25)(b) |
250 | 217,100 | ||||||
Edgewell Personal Care Co. |
||||||||
4.13%, 04/01/29 (Call 04/01/24)(b) |
320 | 273,298 | ||||||
5.50%, 06/01/28 (Call 06/01/23)(a)(b) |
420 | 395,022 | ||||||
|
|
|||||||
1,354,327 |
Security | Par (000) |
Value | ||||||
Distribution & Wholesale — 0.3% | ||||||||
American Builders & Contractors Supply Co. Inc., 4.00%, 01/15/28 (Call 01/15/23)(b) |
$ | 375 | $ | 330,896 | ||||
G-III Apparel Group Ltd., 7.88%, 08/15/25 (Call 12/01/22)(a)(b) |
250 | 236,783 | ||||||
Resideo
Funding Inc., 4.00%, 09/01/29 |
150 | 123,000 | ||||||
Univar Solutions USA Inc., 5.13%, 12/01/27 (Call 12/01/22)(a)(b) |
215 | 198,875 | ||||||
|
|
|||||||
889,554 | ||||||||
Diversified Financial Services — 5.0% | ||||||||
AerCap
Holdings NV, 5.88%, 10/10/79 |
435 | 391,369 | ||||||
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)(a) |
600 | 577,247 | ||||||
Brightsphere Investment Group Inc., 4.80%, 07/27/26 |
155 | 138,725 | ||||||
Coinbase Global Inc. |
||||||||
3.38%, 10/01/28 (Call 10/01/24)(a)(b) |
565 | 369,291 | ||||||
3.63%, 10/01/31 (Call 10/01/26)(b) |
580 | 343,440 | ||||||
Credit Acceptance Corp. |
||||||||
5.13%, 12/31/24 (Call 11/14/22)(b) |
195 | 181,327 | ||||||
6.63%, 03/15/26 (Call 11/14/22)(a) |
220 | 208,098 | ||||||
Enact
Holdings Inc., 6.50%, 08/15/25 |
385 | 379,264 | ||||||
goeasy Ltd. |
||||||||
4.38%, 05/01/26 (Call 05/01/23)(b) |
230 | 197,225 | ||||||
5.38%, 12/01/24 (Call 12/01/22)(b) |
175 | 163,326 | ||||||
Jane Street Group/JSG Finance Inc., 4.50%, 11/15/29 (Call 11/15/24)(a)(b) |
325 | 287,255 | ||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (Call 08/15/24)(b) |
575 | 451,392 | ||||||
Jefferson Capital Holdings LLC, 6.00%, 08/15/26 (Call 08/15/23)(b) |
160 | 133,176 | ||||||
LPL Holdings Inc. |
||||||||
4.00%, 03/15/29 (Call 03/15/24)(b) |
490 | 427,667 | ||||||
4.38%, 05/15/31 (Call 05/15/26)(b) |
260 | 226,451 | ||||||
4.63%, 11/15/27 (Call 12/01/22)(b) |
245 | 225,638 | ||||||
Midcap Financial Issuer Trust |
||||||||
5.63%, 01/15/30 (Call 01/15/25)(b) |
250 | 192,500 | ||||||
6.50%, 05/01/28 (Call 05/01/24)(b) |
550 | 467,430 | ||||||
Navient Corp. |
||||||||
4.88%, 03/15/28 (Call 06/15/27) |
281 | 223,412 | ||||||
5.00%, 03/15/27 (Call 09/15/26) |
395 | 332,928 | ||||||
5.50%, 03/15/29 (Call 06/15/28) |
450 | 357,020 | ||||||
5.63%, 08/01/33 |
345 | 243,085 | ||||||
5.88%, 10/25/24 |
195 | 188,579 | ||||||
6.13%, 03/25/24 |
513 | 503,491 | ||||||
6.75%, 06/25/25 |
285 | 272,811 | ||||||
6.75%, 06/15/26 |
275 | 259,531 | ||||||
OneMain Finance Corp. |
||||||||
3.50%, 01/15/27 (Call 01/15/24) |
440 | 360,630 | ||||||
3.88%, 09/15/28 (Call 09/15/24) |
330 | 256,971 | ||||||
4.00%, 09/15/30 (Call 09/15/25)(a) |
480 | 362,400 | ||||||
5.38%, 11/15/29 (Call 05/15/29)(a) |
415 | 340,300 | ||||||
6.13%, 03/15/24 (Call 09/15/23) |
745 | 727,880 | ||||||
6.63%, 01/15/28 (Call 07/15/27) |
440 | 399,709 | ||||||
6.88%, 03/15/25 |
670 | 649,900 | ||||||
7.13%, 03/15/26 |
868 | 835,884 | ||||||
PennyMac Financial Services Inc. |
||||||||
4.25%, 02/15/29 (Call 02/15/24)(b) |
350 | 265,125 | ||||||
5.38%, 10/15/25 (Call 12/01/22)(b) |
400 | 362,000 | ||||||
5.75%, 09/15/31 (Call 09/15/26)(b) |
275 | 207,073 | ||||||
PRA Group Inc. |
||||||||
5.00%, 10/01/29 (Call 10/01/24)(b) |
225 | 180,338 | ||||||
7.38%, 09/01/25 (Call 12/01/22)(b) |
160 | 153,047 |
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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Diversified Financial Services (continued) | ||||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc. |
||||||||
2.88%, 10/15/26 (Call 10/15/23)(a)(b) |
$ | 700 | $ | 584,101 | ||||
3.63%, 03/01/29 (Call 03/01/24)(b) |
450 | 348,750 | ||||||
3.88%, 03/01/31 (Call 03/01/26)(b) |
705 | 524,167 | ||||||
4.00%, 10/15/33 (Call 10/15/27)(b) |
455 | 317,804 | ||||||
SLM Corp. |
||||||||
3.13%, 11/02/26 (Call 10/02/26)(a) |
325 | 285,048 | ||||||
4.20%, 10/29/25 (Call 09/29/25) |
265 | 246,042 | ||||||
StoneX
Group Inc., 8.63%, 06/15/25 |
235 | 232,063 | ||||||
United Wholesale Mortgage LLC |
||||||||
5.50%, 11/15/25 (Call 12/01/22)(a)(b) |
475 | 428,908 | ||||||
5.50%, 04/15/29 (Call 04/15/24)(a)(b) |
400 | 301,772 | ||||||
5.75%, 06/15/27 (Call 06/15/24)(b) |
275 | 225,363 | ||||||
|
|
|||||||
16,336,953 | ||||||||
Electric — 4.6% | ||||||||
Algonquin Power & Utilities Corp., 4.75%, 01/18/82 (Call 01/18/27)(d) |
450 | 362,351 | ||||||
Calpine Corp. |
||||||||
3.75%, 03/01/31 (Call 03/01/26)(a)(b) |
545 | 446,505 | ||||||
4.50%, 02/15/28 (Call 02/15/23)(a)(b) |
690 | 620,098 | ||||||
5.25%, 06/01/26 (Call 12/01/22)(a)(b) |
253 | 240,067 | ||||||
Clearway Energy Operating LLC |
||||||||
3.75%, 02/15/31 (Call 02/15/26)(b) |
490 | 409,150 | ||||||
3.75%, 01/15/32 (Call 01/15/27)(b) |
224 | 177,464 | ||||||
4.75%, 03/15/28 (Call 03/15/23)(a)(b) |
530 | 489,559 | ||||||
DPL Inc. |
||||||||
4.13%, 07/01/25 (Call 04/01/25) |
225 | 212,405 | ||||||
4.35%, 04/15/29 (Call 01/15/29) |
213 | 182,115 | ||||||
Drax
Finco PLC, 6.63%, 11/01/25 |
200 | 186,000 | ||||||
Electricite
de France SA, 5.63%, |
885 | 778,242 | ||||||
Emera Inc., Series 16-A, 6.75%, 06/15/76 (Call 06/15/26)(d) |
700 | 652,485 | ||||||
FirstEnergy Corp. |
||||||||
2.05%, 03/01/25 (Call 02/01/25) |
210 | 193,043 | ||||||
2.65%, 03/01/30 (Call 12/01/29) |
360 | 291,031 | ||||||
Series A, 1.60%, 01/15/26 (Call 12/15/25) |
175 | 152,192 | ||||||
Series B, 2.25%, 09/01/30 (Call 06/01/30) |
265 | 203,973 | ||||||
Series B, 4.15%, 07/15/27 (Call 04/15/27) |
860 | 807,635 | ||||||
Series C, 3.40%, 03/01/50 (Call 09/01/49) |
440 | 273,350 | ||||||
Series C, 5.35%, 07/15/47 (Call 01/15/47) |
359 | 296,204 | ||||||
Series C, 7.38%, 11/15/31 |
443 | 492,837 | ||||||
Leeward Renewable Energy Operations LLC, 4.25%, 07/01/29 (Call 07/01/24)(b) |
210 | 170,100 | ||||||
NextEra Energy Operating Partners LP |
||||||||
3.88%, 10/15/26 (Call 07/15/26)(b) |
200 | 185,390 | ||||||
4.25%, 07/15/24 (Call 04/15/24)(a)(b) |
385 | 373,265 | ||||||
4.50%, 09/15/27 (Call 06/15/27)(a)(b) |
359 | 333,870 | ||||||
NRG Energy Inc. |
||||||||
3.38%, 02/15/29 (Call 02/15/24)(a)(b) |
290 | 241,562 | ||||||
3.63%, 02/15/31 (Call 02/15/26)(a)(b) |
570 | 453,589 | ||||||
3.88%, 02/15/32 (Call 02/15/27)(b) |
635 | 500,666 | ||||||
5.25%, 06/15/29 (Call 06/15/24)(b) |
435 | 394,763 | ||||||
5.75%, 01/15/28 (Call 01/15/23) |
505 | 481,644 | ||||||
6.63%, 01/15/27 (Call 11/16/22)(a) |
132 | 132,059 | ||||||
Pattern
Energy Operations LP/Pattern Energy Operations Inc.,
4.50%, 08/15/28 |
405 | 364,222 | ||||||
PG&E Corp. |
||||||||
5.00%, 07/01/28 (Call 07/01/23)(a) |
550 | 495,712 | ||||||
5.25%, 07/01/30 (Call 07/01/25) |
615 | 544,579 | ||||||
Terraform Global Operating LP, 6.13%, 03/01/26 (Call 12/01/22)(b) |
200 | 184,082 |
Security | Par (000) |
Value | ||||||
Electric (continued) | ||||||||
TransAlta Corp., 6.50%, 03/15/40 |
$ | 185 | $ | 158,894 | ||||
Vistra Operations Co. LLC |
||||||||
4.38%, 05/01/29 (Call 05/01/24)(b) |
710 | 607,245 | ||||||
5.00%, 07/31/27 (Call 11/14/22)(b) |
780 | 719,550 | ||||||
5.50%, 09/01/26 (Call 11/14/22)(b) |
575 | 552,000 | ||||||
5.63%, 02/15/27 (Call 11/14/22)(a)(b) |
720 | 686,362 | ||||||
|
|
|||||||
15,046,260 | ||||||||
Electrical Components & Equipment — 0.5% | ||||||||
EnerSys, 4.38%, 12/15/27 (Call 09/15/27)(a)(b) |
161 | 141,278 | ||||||
WESCO Distribution Inc. |
||||||||
7.13%, 06/15/25 (Call 12/01/22)(b) |
600 | 605,820 | ||||||
7.25%, 06/15/28 (Call 06/15/23)(b) |
775 | 786,206 | ||||||
|
|
|||||||
1,533,304 | ||||||||
Electronics — 1.0% | ||||||||
Atkore Inc., 4.25%, 06/01/31 (Call 06/01/26)(b) |
245 | 198,450 | ||||||
Imola Merger Corp., 4.75%, 05/15/29 (Call 05/15/24)(b) |
1,160 | 1,000,152 | ||||||
Sensata Technologies BV |
||||||||
4.00%, 04/15/29 (Call 04/15/24)(b) |
530 | 446,366 | ||||||
5.00%, 10/01/25(b) |
385 | 373,027 | ||||||
5.63%, 11/01/24(b) |
215 | 213,319 | ||||||
5.88%, 09/01/30 (Call 09/01/25)(b) |
400 | 380,000 | ||||||
Sensata Technologies Inc. |
||||||||
3.75%, 02/15/31 (Call 02/15/26)(a)(b) |
425 | 338,406 | ||||||
4.38%, 02/15/30 (Call 11/15/29)(b) |
200 | 172,042 | ||||||
TTM Technologies Inc., 4.00%, 03/01/29 (Call 03/01/24)(b) |
240 | 200,433 | ||||||
|
|
|||||||
3,322,195 | ||||||||
Energy - Alternate Sources — 0.3% | ||||||||
TerraForm Power Operating LLC |
||||||||
4.75%, 01/15/30 (Call 01/15/25)(b) |
425 | 381,969 | ||||||
5.00%, 01/31/28 (Call 07/31/27)(b) |
395 | 365,910 | ||||||
Topaz Solar Farms LLC, 5.75%, 09/30/39(b) |
313 | 296,880 | ||||||
|
|
|||||||
1,044,759 | ||||||||
Engineering & Construction — 0.7% | ||||||||
AECOM, 5.13%, 03/15/27 (Call 12/15/26)(a) |
600 | 568,062 | ||||||
Arcosa Inc., 4.38%, 04/15/29 (Call 04/15/24)(b) |
220 | 189,669 | ||||||
ATP Tower Holdings LLC/Andean Tower Partners Colombia SAS/Andean Telecom Par, 4.05%, 04/27/26 (Call 04/27/23)(b) |
230 | 184,846 | ||||||
Cellnex Finance Co. SA, 3.88%, 07/07/41 (Call 04/07/41)(b) |
350 | 214,235 | ||||||
Dycom Industries Inc., 4.50%, 04/15/29 (Call 04/15/24)(b) |
220 | 191,869 | ||||||
Fluor Corp. |
||||||||
3.50%, 12/15/24 (Call 09/15/24) |
175 | 166,388 | ||||||
4.25%, 09/15/28 (Call 06/15/28)(a) |
310 | 270,230 | ||||||
TopBuild Corp. |
||||||||
3.63%, 03/15/29 (Call 03/15/24)(b) |
240 | 190,706 | ||||||
4.13%, 02/15/32 (Call 10/15/26)(a)(b) |
285 | 223,148 | ||||||
Weekley Homes LLC/Weekley Finance Corp., 4.88%, 09/15/28 (Call 09/15/23)(b) |
230 | 185,255 | ||||||
|
|
|||||||
2,384,408 | ||||||||
Entertainment — 1.3% | ||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25 (Call 12/01/22)(b) |
500 | 496,245 | ||||||
Cinemark USA Inc., 8.75%, 05/01/25 (Call 12/01/22)(a)(b) |
175 | 175,487 | ||||||
Empire Resorts Inc., 7.75%, 11/01/26 (Call 11/01/23)(b) |
110 | 90,226 | ||||||
International Game Technology PLC |
||||||||
4.13%, 04/15/26 (Call 04/15/23)(b) |
475 | 440,800 | ||||||
5.25%, 01/15/29 (Call 01/15/24)(b) |
425 | 394,347 | ||||||
6.25%, 01/15/27 (Call 07/15/26)(a)(b) |
400 | 396,304 |
72 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Entertainment (continued) | ||||||||
6.50%, 02/15/25 (Call 08/15/24)(b) |
$ | 355 | $ | 355,298 | ||||
Raptor Acquisition Corp./Raptor Co-Issuer LLC, 4.88%, 11/01/26 (Call 11/14/22)(b) |
200 | 176,500 | ||||||
Resorts World Las Vegas LLC, 4.63%, 04/06/31 (Call 01/06/31)(b) |
250 | 169,461 | ||||||
Resorts World Las Vegas LLC/RWLV Capital Inc., 4.63%, 04/16/29 (Call 01/16/29)(a)(b) |
575 | 411,728 | ||||||
Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 12/01/22)(a)(b) |
126 | 127,232 | ||||||
Vail
Resorts Inc., 6.25%, 05/15/25 |
325 | 323,375 | ||||||
WMG Acquisition Corp. |
||||||||
3.00%, 02/15/31 (Call 02/15/26)(b) |
450 | 351,175 | ||||||
3.75%, 12/01/29 (Call 12/01/24)(b) |
335 | 278,888 | ||||||
3.88%, 07/15/30 (Call 07/15/25)(b) |
300 | 256,376 | ||||||
|
|
|||||||
4,443,442 | ||||||||
Environmental Control — 0.6% | ||||||||
Clean Harbors Inc. |
||||||||
4.88%, 07/15/27 (Call 12/01/22)(a)(b) |
235 | 221,145 | ||||||
5.13%, 07/15/29 (Call 07/15/24)(b) |
185 | 171,525 | ||||||
GFL Environmental Inc. |
||||||||
3.50%, 09/01/28 (Call 03/01/28)(b) |
415 | 351,845 | ||||||
3.75%, 08/01/25 (Call 12/01/22)(b) |
375 | 354,375 | ||||||
4.25%, 06/01/25 (Call 12/01/22)(b) |
200 | 190,952 | ||||||
5.13%, 12/15/26 (Call 12/15/22)(b) |
350 | 333,158 | ||||||
Stericycle Inc. |
||||||||
3.88%, 01/15/29 (Call 11/15/23)(b) |
265 | 230,176 | ||||||
5.38%, 07/15/24 (Call 11/16/22)(b) |
300 | 295,500 | ||||||
|
|
|||||||
2,148,676 | ||||||||
Food — 1.8% | ||||||||
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC |
||||||||
3.25%, 03/15/26 (Call 12/01/22)(b) |
400 | 358,968 | ||||||
3.50%, 03/15/29 (Call 09/15/23)(b) |
795 | 657,862 | ||||||
4.63%, 01/15/27 (Call 01/15/23)(b) |
750 | 695,032 | ||||||
4.88%, 02/15/30 (Call 02/15/25)(a)(b) |
585 | 519,187 | ||||||
5.88%, 02/15/28 (Call 12/01/22)(b) |
445 | 416,075 | ||||||
7.50%, 03/15/26 (Call 12/01/22)(b) |
325 | 333,125 | ||||||
Ingles
Markets Inc., 4.00%, 06/15/31 |
185 | 153,632 | ||||||
Lamb Weston Holdings Inc. |
||||||||
4.13%, 01/31/30 (Call 01/31/25)(b) |
525 | 458,309 | ||||||
4.38%, 01/31/32 (Call 01/31/27)(b) |
400 | 343,500 | ||||||
4.88%, 05/15/28 (Call 11/15/27)(b) |
266 | 247,265 | ||||||
Pilgrim’s Pride Corp. |
||||||||
3.50%, 03/01/32 (Call 09/01/26)(b) |
505 | 386,694 | ||||||
4.25%, 04/15/31 (Call 04/15/26)(b) |
565 | 470,539 | ||||||
5.88%, 09/30/27 (Call 12/01/22)(b) |
425 | 415,412 | ||||||
U.S. Foods Inc., 6.25%, 04/15/25 (Call 12/01/22)(b) |
550 | 547,355 | ||||||
|
|
|||||||
6,002,955 | ||||||||
Forest Products & Paper — 0.3% | ||||||||
Clearwater Paper Corp. |
||||||||
4.75%, 08/15/28 (Call 08/15/23)(b) |
190 | 165,834 | ||||||
5.38%, 02/01/25(a)(b) |
153 | 148,534 | ||||||
Domtar Corp., 6.75%, 10/01/28 (Call 10/01/24)(b) |
375 | 318,647 | ||||||
Sylvamo
Corp., 7.00%, 09/01/29 |
225 | 209,083 | ||||||
|
|
|||||||
842,098 | ||||||||
Health Care - Products — 0.7% | ||||||||
Avantor Funding Inc. |
||||||||
3.88%, 11/01/29 (Call 11/01/24)(a)(b) |
500 | 421,901 | ||||||
4.63%, 07/15/28 (Call 07/15/23)(b) |
835 | 754,598 |
Security | Par (000) |
Value | ||||||
Health Care - Products (continued) | ||||||||
Hologic Inc. |
||||||||
3.25%, 02/15/29 (Call 09/28/23)(b) |
$ | 515 | $ | 437,647 | ||||
4.63%, 02/01/28 (Call 02/01/23)(b) |
255 | 238,425 | ||||||
Teleflex Inc. |
||||||||
4.25%, 06/01/28 (Call 06/01/23)(b) |
320 | 289,536 | ||||||
4.63%, 11/15/27 (Call 11/16/22) |
225 | 212,029 | ||||||
|
|
|||||||
2,354,136 | ||||||||
Health Care - Services — 3.4% | ||||||||
Centene Corp. |
||||||||
2.45%, 07/15/28 (Call 05/15/28) |
745 | 612,762 | ||||||
2.50%, 03/01/31 (Call 12/01/30) |
325 | 249,438 | ||||||
2.63%, 08/01/31 (Call 05/01/31) |
440 | 336,701 | ||||||
3.00%, 10/15/30 (Call 07/15/30) |
466 | 375,130 | ||||||
3.38%, 02/15/30 (Call 02/15/25) |
665 | 552,482 | ||||||
4.25%, 12/15/27 (Call 12/15/22) |
800 | 738,000 | ||||||
4.63%, 12/15/29 (Call 12/15/24) |
209 | 189,145 | ||||||
Charles River Laboratories International Inc. |
||||||||
3.75%, 03/15/29 (Call 03/15/24)(a)(b) |
275 | 237,875 | ||||||
4.00%, 03/15/31 (Call 03/15/26)(b) |
260 | 218,719 | ||||||
4.25%, 05/01/28 (Call 05/01/23)(a)(b) |
290 | 263,813 | ||||||
IQVIA Inc. |
||||||||
5.00%, 10/15/26 (Call 12/01/22)(a)(b) |
625 | 595,800 | ||||||
5.00%, 05/15/27 (Call 12/01/22)(b) |
550 | 524,084 | ||||||
Molina Healthcare Inc. |
||||||||
3.88%, 11/15/30 (Call 08/17/30)(a)(b) |
348 | 295,729 | ||||||
3.88%, 05/15/32 (Call 02/15/32)(b) |
420 | 350,280 | ||||||
4.38%, 06/15/28 (Call 06/15/23)(b) |
460 | 412,556 | ||||||
Pediatrix Medical Group Inc., 5.38%, 02/15/30 (Call 02/15/25)(a)(b) |
250 | 215,000 | ||||||
Tenet Healthcare Corp. |
||||||||
4.25%, 06/01/29 (Call 06/01/24)(b) |
795 | 669,787 | ||||||
4.38%, 01/15/30 (Call 12/01/24)(b) |
795 | 667,005 | ||||||
4.63%, 07/15/24 (Call 12/01/22) |
400 | 390,000 | ||||||
4.63%, 06/15/28 (Call 06/15/23)(a)(b) |
360 | 315,898 | ||||||
4.88%, 01/01/26 (Call 12/01/22)(b) |
1,175 | 1,110,375 | ||||||
5.13%, 11/01/27 (Call 12/01/22)(b) |
835 | 769,244 | ||||||
6.13%, 06/15/30 (Call 06/15/25)(a)(b) |
1,176 | 1,085,613 | ||||||
|
|
|||||||
11,175,436 | ||||||||
Holding Companies - Diversified — 0.9% | ||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||
4.38%, 02/01/29 (Call 08/01/28) |
430 | 358,994 | ||||||
4.75%, 09/15/24 (Call 06/15/24) |
655 | 637,400 | ||||||
5.25%, 05/15/27 (Call 11/15/26) |
815 | 750,933 | ||||||
6.25%, 05/15/26 (Call 12/01/22) |
700 | 672,350 | ||||||
6.38%, 12/15/25 (Call 12/01/22) |
435 | 422,276 | ||||||
|
|
|||||||
2,841,953 | ||||||||
Home Builders — 1.5% | ||||||||
Century Communities Inc. |
||||||||
3.88%, 08/15/29 (Call 02/15/29)(b) |
295 | 232,324 | ||||||
6.75%, 06/01/27 (Call 12/01/22) |
275 | 262,515 | ||||||
Forestar Group Inc. |
||||||||
3.85%, 05/15/26 (Call 05/15/23)(a)(b) |
195 | 165,988 | ||||||
5.00%, 03/01/28 (Call 03/01/23)(a)(b) |
180 | 148,552 | ||||||
KB Home |
||||||||
4.00%, 06/15/31 (Call 12/15/30) |
220 | 166,650 | ||||||
4.80%, 11/15/29 (Call 05/15/29) |
170 | 138,767 | ||||||
6.88%, 06/15/27 (Call 12/15/26)(a) |
135 | 130,575 | ||||||
7.25%, 07/15/30 (Call 07/15/25) |
204 | 188,445 | ||||||
LGI Homes Inc., 4.00%, 07/15/29 (Call 01/15/29)(b) |
190 | 145,694 |
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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Home Builders (continued) | ||||||||
M/I Homes Inc. |
||||||||
3.95%, 02/15/30 (Call 08/15/29) |
$ | 185 | $ | 137,378 | ||||
4.95%, 02/01/28 (Call 02/01/23) |
225 | 193,048 | ||||||
Mattamy Group Corp. |
||||||||
4.63%, 03/01/30 (Call 03/01/25)(b) |
320 | 249,519 | ||||||
5.25%, 12/15/27 (Call 12/15/22)(b) |
300 | 256,335 | ||||||
Meritage Homes Corp. |
||||||||
3.88%, 04/15/29 (Call 10/15/28)(b) |
240 | 192,888 | ||||||
5.13%, 06/06/27 (Call 12/06/26) |
178 | 159,382 | ||||||
6.00%, 06/01/25 (Call 03/01/25) |
175 | 169,915 | ||||||
Shea Homes LP/Shea Homes Funding Corp. |
||||||||
4.75%, 02/15/28 (Call 02/15/23)(b) |
250 | 210,873 | ||||||
4.75%, 04/01/29 (Call 04/01/24)(b) |
175 | 142,664 | ||||||
Taylor Morrison Communities Inc. |
||||||||
5.13%, 08/01/30 (Call 02/01/30)(b) |
300 | 248,906 | ||||||
5.75%, 01/15/28 (Call 10/15/27)(b) |
225 | 206,229 | ||||||
5.88%, 06/15/27 (Call 03/15/27)(b) |
325 | 304,769 | ||||||
Taylor
Morrison Communities Inc./Taylor Morrison Holdings II Inc.,
5.63%, 03/01/24 |
100 | 97,840 | ||||||
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24 |
200 | 196,558 | ||||||
Tri Pointe Homes Inc. |
||||||||
5.25%, 06/01/27 (Call 12/01/26) |
172 | 147,922 | ||||||
5.70%, 06/15/28 (Call 12/15/27) |
177 | 153,349 | ||||||
Winnebago Industries Inc., 6.25%, 07/15/28 (Call 07/15/23)(a)(b) |
190 | 176,805 | ||||||
|
|
|||||||
4,823,890 | ||||||||
Home Furnishings — 0.2% | ||||||||
Tempur Sealy International Inc. |
||||||||
3.88%, 10/15/31 (Call 10/15/26)(b) |
420 | 315,361 | ||||||
4.00%, 04/15/29 (Call 04/15/24)(b) |
480 | 386,000 | ||||||
|
|
|||||||
701,361 | ||||||||
Household Products & Wares — 0.2% | ||||||||
ACCO Brands Corp., 4.25%, 03/15/29 (Call 03/15/24)(a)(b) |
320 | 254,240 | ||||||
Central Garden & Pet Co. |
||||||||
4.13%, 10/15/30 (Call 10/15/25)(a) |
295 | 243,838 | ||||||
4.13%, 04/30/31 (Call 04/30/26)(b) |
220 | 182,600 | ||||||
5.13%, 02/01/28 (Call 01/01/23)(a) |
144 | 131,745 | ||||||
|
|
|||||||
812,423 | ||||||||
Housewares — 0.7% | ||||||||
Newell Brands Inc. |
||||||||
4.45%, 04/01/26 (Call 01/01/26) |
1,110 | 1,032,910 | ||||||
4.88%, 06/01/25 (Call 05/01/25) |
225 | 217,228 | ||||||
5.63%, 04/01/36 (Call 10/01/35) |
235 | 195,262 | ||||||
5.75%, 04/01/46 (Call 10/01/45) |
370 | 284,715 | ||||||
6.38%, 09/15/27 (Call 06/15/27) |
270 | 263,858 | ||||||
6.63%, 09/15/29 (Call 06/15/29)(a) |
325 | 317,687 | ||||||
|
|
|||||||
2,311,660 | ||||||||
Insurance — 0.8% | ||||||||
Assurant
Inc., 7.00%, 03/27/48 (Call 03/27/28), |
210 | 199,907 | ||||||
Enstar Finance LLC |
||||||||
5.50%, 01/15/42 (Call 01/15/27)(d) |
290 | 227,865 | ||||||
5.75%, 09/01/40 (Call 09/01/25)(d) |
225 | 199,436 | ||||||
Genworth Holdings Inc., 6.50%, 06/15/34 |
175 | 145,250 | ||||||
Global Atlantic Fin Co., 4.70%, 10/15/51 (Call 07/15/26)(b)(d) |
440 | 324,102 | ||||||
Liberty Mutual Group Inc. |
||||||||
4.13%, 12/15/51 (Call 09/15/26)(b)(d) |
275 | 206,250 | ||||||
4.30%, 02/01/61 (Call 02/01/26)(b) |
420 | 247,430 |
Security |
Par (000) |
Value | ||||||
Insurance (continued) | ||||||||
7.80%, 03/07/87(b) |
$ | 245 | $ | 269,697 | ||||
MGIC Investment Corp., 5.25%, 08/15/28 (Call 08/15/23) |
325 | 294,850 | ||||||
NMI
Holdings Inc., 7.38%, 06/01/25 |
185 | 184,822 | ||||||
Ohio National Financial Services Inc. |
||||||||
5.80%, 01/24/30 (Call 10/24/29)(b) |
200 | 180,375 | ||||||
6.63%, 05/01/31(a)(b) |
150 | 140,897 | ||||||
|
|
|||||||
2,620,881 | ||||||||
Internet — 1.3% | ||||||||
Cogent Communications Group Inc., 3.50%, 05/01/26 (Call 02/01/26)(b) |
305 | 275,263 | ||||||
Go Daddy Operating Co. LLC/GD Finance Co. Inc. |
||||||||
3.50%, 03/01/29 (Call 03/01/24)(b) |
460 | 381,492 | ||||||
5.25%, 12/01/27 (Call 12/01/22)(b) |
310 | 290,228 | ||||||
Match Group Holdings II LLC |
||||||||
3.63%, 10/01/31 (Call 10/01/26)(a)(b) |
275 | 209,622 | ||||||
4.13%, 08/01/30 (Call 05/01/25)(b) |
276 | 225,493 | ||||||
4.63%, 06/01/28 (Call 06/01/23)(a)(b) |
315 | 279,918 | ||||||
5.00%, 12/15/27 (Call 12/15/22)(b) |
250 | 223,066 | ||||||
5.63%, 02/15/29 (Call 02/15/24)(b) |
185 | 163,915 | ||||||
NortonLifeLock Inc. |
||||||||
5.00%, 04/15/25 (Call 11/14/22)(b) |
655 | 635,628 | ||||||
6.75%, 09/30/27 (Call 09/30/24)(a)(b) |
535 | 527,400 | ||||||
7.13%, 09/30/30 (Call 09/30/25)(b) |
310 | 304,727 | ||||||
Twitter Inc. |
||||||||
3.88%, 12/15/27 (Call 09/15/27)(a)(b) |
260 | 262,275 | ||||||
5.00%, 03/01/30 (Call 12/01/29)(b) |
380 | 382,084 | ||||||
Ziff Davis Inc., 4.63%, 10/15/30 (Call 10/15/25)(a)(b) |
275 | 232,436 | ||||||
|
|
|||||||
4,393,547 | ||||||||
Iron & Steel — 1.2% | ||||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29 (Call 09/15/23)(b) |
410 | 385,586 | ||||||
Carpenter Technology Corp. |
||||||||
6.38%, 07/15/28 (Call 07/15/23) |
252 | 232,799 | ||||||
7.63%, 03/15/30 (Call 03/15/25) |
190 | 185,676 | ||||||
Cleveland-Cliffs Inc. |
||||||||
4.63%, 03/01/29 (Call 03/01/24)(b) |
215 | 185,126 | ||||||
4.88%, 03/01/31 (Call 03/01/26)(a)(b) |
190 | 160,474 | ||||||
5.88%, 06/01/27 (Call 12/01/22) |
305 | 283,650 | ||||||
6.75%, 03/15/26 (Call 12/01/22)(b) |
475 | 471,437 | ||||||
Commercial Metals Co. |
||||||||
3.88%, 02/15/31 (Call 02/15/26)(a) |
185 | 149,850 | ||||||
4.13%, 01/15/30 (Call 01/15/25)(a) |
180 | 151,236 | ||||||
4.38%, 03/15/32 (Call 03/15/27) |
160 | 130,459 | ||||||
Mineral Resources Ltd. |
||||||||
8.00%, 11/01/27 (Call 11/01/24)(b) |
360 | 354,135 | ||||||
8.13%, 05/01/27 (Call 12/01/22)(b) |
385 | 383,075 | ||||||
8.50%, 05/01/30 (Call 05/01/25)(b) |
375 | 368,758 | ||||||
U.S. Steel Corp. |
||||||||
6.65%, 06/01/37 |
142 | 118,311 | ||||||
6.88%, 03/01/29 (Call 03/01/24)(a) |
261 | 239,512 | ||||||
|
|
|||||||
3,800,084 | ||||||||
Leisure Time — 0.8% | ||||||||
Carnival Corp., 4.00%, 08/01/28 (Call 05/01/28)(b) |
1,370 | 1,103,775 | ||||||
Royal Caribbean Cruises Ltd. |
||||||||
8.25%, 01/15/29 (Call 04/01/25)(b) |
575 | 573,117 | ||||||
11.50%, 06/01/25 (Call 11/11/22)(a)(b) |
818 | 880,961 | ||||||
Vista
Outdoor Inc., 4.50%, 03/15/29 |
300 | 234,402 | ||||||
|
|
|||||||
2,792,255 |
74 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Lodging — 2.1% | ||||||||
Genting New York LLC, 3.30%, 02/15/26 (Call 01/15/26)(b) |
$ | 200 | $ | 175,339 | ||||
Hilton Domestic Operating Co. Inc. |
||||||||
3.63%, 02/15/32 (Call 08/15/26)(b) |
825 | 656,906 | ||||||
3.75%, 05/01/29 (Call 05/01/24)(b) |
455 | 387,617 | ||||||
4.00%, 05/01/31 (Call 05/01/26)(b) |
610 | 509,928 | ||||||
4.88%, 01/15/30 (Call 01/15/25) |
585 | 524,306 | ||||||
5.38%, 05/01/25 (Call 11/14/22)(b) |
275 | 270,875 | ||||||
5.75%, 05/01/28 (Call 05/01/23)(b) |
300 | 289,500 | ||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 11/16/22) |
315 | 299,250 | ||||||
Las Vegas Sands Corp. |
||||||||
2.90%, 06/25/25 (Call 05/25/25) |
310 | 280,755 | ||||||
3.20%, 08/08/24 (Call 07/08/24) |
950 | 904,572 | ||||||
3.50%, 08/18/26 (Call 06/18/26) |
550 | 480,385 | ||||||
3.90%, 08/08/29 (Call 05/08/29) |
400 | 323,316 | ||||||
Marriott Ownership Resorts Inc., 6.13%, 09/15/25 (Call 12/01/22)(b) |
137 | 135,448 | ||||||
Travel + Leisure Co. |
||||||||
4.50%, 12/01/29 (Call 09/01/29)(b) |
355 | 289,325 | ||||||
4.63%, 03/01/30 (Call 12/01/29)(b) |
179 | 144,491 | ||||||
5.65%, 04/01/24 (Call 02/01/24) |
175 | 172,132 | ||||||
6.00%, 04/01/27 (Call 01/01/27) |
260 | 242,763 | ||||||
6.60%, 10/01/25 (Call 07/01/25) |
225 | 219,949 | ||||||
6.63%, 07/31/26 (Call 04/30/26)(b) |
380 | 370,010 | ||||||
Wyndham Hotels & Resorts Inc., 4.38%, 08/15/28 (Call 08/15/23)(a)(b) |
285 | 250,891 | ||||||
|
|
|||||||
6,927,758 | ||||||||
Machinery — 0.4% | ||||||||
BWX Technologies Inc. |
||||||||
4.13%, 06/30/28 (Call 06/30/23)(a)(b) |
225 | 196,875 | ||||||
4.13%, 04/15/29 (Call 04/15/24)(a)(b) |
250 | 216,150 | ||||||
GrafTech Finance Inc., 4.63%, 12/15/28 (Call 12/15/23)(a)(b) |
285 | 230,850 | ||||||
Mueller Water Products Inc., 4.00%, 06/15/29 (Call 06/15/24)(b) |
230 | 199,437 | ||||||
Stevens Holding Co. Inc., 6.13%, 10/01/26 (Call 10/01/23)(a)(b) |
200 | 200,260 | ||||||
Weir Group PLC (The), 2.20%, 05/13/26 (Call 04/13/26)(b) |
400 | 342,248 | ||||||
|
|
|||||||
1,385,820 | ||||||||
Manufacturing — 0.4% | ||||||||
Amsted Industries Inc. |
||||||||
4.63%, 05/15/30 (Call 05/15/25)(b) |
225 | 185,625 | ||||||
5.63%, 07/01/27 (Call 12/01/22)(b) |
225 | 208,125 | ||||||
Hillenbrand Inc. |
||||||||
3.75%, 03/01/31 (Call 03/01/26) |
190 | 152,000 | ||||||
5.00%, 09/15/26 (Call 07/15/26) |
241 | 226,898 | ||||||
5.75%, 06/15/25 (Call 12/01/22) |
225 | 223,313 | ||||||
Trinity Industries Inc., 4.55%, 10/01/24 (Call 07/01/24) |
267 | 253,164 | ||||||
|
|
|||||||
1,249,125 | ||||||||
Media — 8.0% | ||||||||
AMC Networks Inc. |
||||||||
4.25%, 02/15/29 (Call 02/15/24) |
595 | 459,638 | ||||||
4.75%, 08/01/25 (Call 12/01/22) |
425 | 388,412 | ||||||
5.00%, 04/01/24 (Call 12/01/22) |
240 | 232,985 | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp. |
||||||||
4.25%, 02/01/31 (Call 07/01/25)(b) |
900 | 711,000 | ||||||
4.25%, 01/15/34 (Call 01/15/28)(b) |
610 | 448,350 | ||||||
4.50%, 08/15/30 (Call 02/15/25)(b) |
800 | 649,248 | ||||||
4.50%, 05/01/32 (Call 05/01/26) |
870 | 687,300 | ||||||
4.50%, 06/01/33 (Call 06/01/27)(b) |
535 | 405,696 |
Security | Par (000) |
Value | ||||||
Media (continued) | ||||||||
4.75%, 03/01/30 (Call 09/01/24)(b) |
$ | 900 | $ | 756,360 | ||||
4.75%, 02/01/32 (Call 02/01/27)(b) |
370 | 296,018 | ||||||
5.00%, 02/01/28 (Call 11/16/22)(b) |
700 | 633,500 | ||||||
5.13%, 05/01/27 (Call 12/01/22)(b) |
950 | 880,156 | ||||||
5.38%, 06/01/29 (Call 06/01/24)(b) |
450 | 402,021 | ||||||
5.50%, 05/01/26 (Call 12/01/22)(a)(b) |
199 | 191,538 | ||||||
6.38%, 09/01/29 (Call 09/01/25)(b) |
450 | 414,668 | ||||||
CSC Holdings LLC |
||||||||
3.38%, 02/15/31 (Call 02/15/26)(b) |
525 | 380,625 | ||||||
4.13%, 12/01/30 (Call 12/01/25)(b) |
600 | 472,062 | ||||||
4.50%, 11/15/31 (Call 11/15/26)(b) |
825 | 641,664 | ||||||
5.38%, 02/01/28 (Call 02/01/23)(b) |
525 | 484,313 | ||||||
5.50%, 04/15/27 (Call 12/01/22)(b) |
800 | 750,000 | ||||||
6.50%, 02/01/29 (Call 02/01/24)(b) |
1,050 | 989,625 | ||||||
Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)(b) |
2,070 | 1,864,242 | ||||||
Gannett Holdings LLC, 6.00%, 11/01/26 (Call 11/01/23)(a)(b) |
195 | 145,861 | ||||||
LCPR Senior Secured Financing DAC |
||||||||
5.13%, 07/15/29 (Call 07/15/24)(b) |
425 | 358,063 | ||||||
6.75%, 10/15/27 (Call 12/01/22)(b) |
750 | 699,375 | ||||||
News Corp. |
||||||||
3.88%, 05/15/29 (Call 05/15/24)(a)(b) |
575 | 494,212 | ||||||
5.13%, 02/15/32 (Call 02/15/27)(b) |
260 | 232,050 | ||||||
Paramount Global |
||||||||
6.25%, 02/28/57 (Call 02/28/27)(d) |
385 | 322,346 | ||||||
6.38%, 03/30/62 (Call 03/30/27)(d) |
550 | 464,980 | ||||||
Scripps Escrow II Inc., 3.88%, 01/15/29 (Call 01/15/24)(b) |
275 | 227,106 | ||||||
Sinclair Television Group Inc., 4.13%, 12/01/30 (Call 12/01/25)(b) |
440 | 338,835 | ||||||
Sirius XM Radio Inc. |
||||||||
3.13%, 09/01/26 (Call 09/01/23)(a)(b) |
525 | 469,140 | ||||||
3.88%, 09/01/31 (Call 09/01/26)(b) |
840 | 672,000 | ||||||
4.00%, 07/15/28 (Call 07/15/24)(b) |
1,120 | 962,838 | ||||||
4.13%, 07/01/30 (Call 07/01/25)(b) |
850 | 695,545 | ||||||
5.00%, 08/01/27 (Call 12/01/22)(b) |
800 | 736,000 | ||||||
5.50%, 07/01/29 (Call 07/01/24)(b) |
740 | 682,502 | ||||||
TEGNA Inc. |
||||||||
4.63%, 03/15/28 (Call 03/15/23)(a) |
525 | 499,732 | ||||||
4.75%, 03/15/26 (Call 03/15/23)(b) |
328 | 318,625 | ||||||
5.00%, 09/15/29 (Call 09/15/24)(a) |
625 | 592,561 | ||||||
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 12/01/22)(b) |
600 | 521,760 | ||||||
UPC Broadband Finco BV, 4.88%, 07/15/31 (Call 07/15/26)(b) |
725 | 608,804 | ||||||
Videotron Ltd. |
||||||||
3.63%, 06/15/29 (Call 06/15/24)(a)(b) |
250 | 210,520 | ||||||
5.13%, 04/15/27 (Call 12/01/22)(b) |
400 | 377,500 | ||||||
5.38%, 06/15/24 (Call 03/15/24)(b) |
300 | 298,044 | ||||||
Virgin Media Secured Finance PLC |
||||||||
4.50%, 08/15/30 (Call 08/15/25)(b) |
450 | 371,853 | ||||||
5.50%, 05/15/29 (Call 05/15/24)(b) |
900 | 817,848 | ||||||
VZ Secured Financing BV, 5.00%, 01/15/32 (Call 01/15/27)(b) |
825 | 657,599 | ||||||
Ziggo BV, 4.88%, 01/15/30 (Call 10/15/24)(b) |
560 | 470,039 | ||||||
|
|
|||||||
26,385,159 | ||||||||
Metal Fabricate & Hardware — 0.1% | ||||||||
Advanced Drainage Systems Inc. |
||||||||
5.00%, 09/30/27 (Call 11/16/22)(b) |
185 | 171,539 | ||||||
6.38%, 06/15/30 (Call 07/15/25)(b) |
300 | 289,917 | ||||||
|
|
|||||||
461,456 |
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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Mining — 1.5% | ||||||||
Arconic Corp. |
||||||||
6.00%, 05/15/25 (Call 12/01/22)(b) |
$ | 350 | $ | 346,566 | ||||
6.13%, 02/15/28 (Call 02/15/23)(b) |
525 | 492,124 | ||||||
FMG Resources August 2006 Pty Ltd. |
||||||||
4.38%, 04/01/31 (Call 01/01/31)(b) |
865 | 687,502 | ||||||
4.50%, 09/15/27 (Call 06/15/27)(b) |
300 | 268,440 | ||||||
5.13%, 05/15/24 (Call 02/15/24)(b) |
385 | 375,485 | ||||||
FMG Resources August Pty. Ltd. |
||||||||
5.88%, 04/15/30 (Call 01/15/30)(b) |
420 | 376,866 | ||||||
6.13%, 04/15/32 (Call 01/15/32)(b) |
460 | 403,696 | ||||||
Kaiser Aluminum Corp. |
||||||||
4.50%, 06/01/31 (Call 06/01/26)(a)(b) |
325 | 254,963 | ||||||
4.63%, 03/01/28 (Call 03/01/23)(b) |
275 | 240,570 | ||||||
Novelis Corp. |
||||||||
3.25%, 11/15/26 (Call 11/15/23)(b) |
380 | 332,590 | ||||||
3.88%, 08/15/31 (Call 08/15/26)(b) |
390 | 302,137 | ||||||
4.75%, 01/30/30 (Call 01/30/25)(b) |
950 | 807,068 | ||||||
Perenti Finance Pty Ltd., 6.50%, 10/07/25 (Call 12/01/22)(b) |
220 | 198,449 | ||||||
|
|
|||||||
5,086,456 | ||||||||
Office & Business Equipment — 0.3% | ||||||||
Xerox Corp. |
||||||||
3.80%, 05/15/24 |
200 | 190,592 | ||||||
4.80%, 03/01/35 |
125 | 77,219 | ||||||
6.75%, 12/15/39 |
200 | 146,590 | ||||||
Xerox Holdings Corp. |
||||||||
5.00%, 08/15/25 (Call 07/15/25)(b) |
440 | 397,245 | ||||||
5.50%, 08/15/28 (Call 07/15/28)(a)(b) |
435 | 343,650 | ||||||
|
|
|||||||
1,155,296 | ||||||||
Office Furnishings — 0.1% | ||||||||
Steelcase Inc., 5.13%, 01/18/29 (Call 10/18/28) |
235 | 205,695 | ||||||
|
|
|||||||
Oil & Gas — 7.1% | ||||||||
Antero Resources Corp. |
||||||||
5.38%, 03/01/30 (Call 03/01/25)(b) |
275 | 254,191 | ||||||
7.63%, 02/01/29 (Call 02/01/24)(b) |
225 | 229,500 | ||||||
Apache Corp. |
||||||||
4.25%, 01/15/30 (Call 10/15/29)(a) |
370 | 329,194 | ||||||
4.38%, 10/15/28 (Call 07/15/28)(a) |
200 | 178,728 | ||||||
4.75%, 04/15/43 (Call 10/15/42) |
280 | 210,000 | ||||||
5.10%, 09/01/40 (Call 03/01/40)(a) |
740 | 599,193 | ||||||
5.25%, 02/01/42 (Call 08/01/41) |
225 | 180,563 | ||||||
5.35%, 07/01/49 (Call 01/01/49) |
225 | 173,656 | ||||||
6.00%, 01/15/37 |
195 | 175,500 | ||||||
Chesapeake Energy Corp. |
||||||||
5.50%, 02/01/26 (Call 02/05/23)(b) |
275 | 266,544 | ||||||
5.88%, 02/01/29 (Call 02/05/24)(b) |
200 | 188,960 | ||||||
6.75%, 04/15/29 (Call 04/15/24)(b) |
585 | 572,992 | ||||||
Civitas Resources Inc., 5.00%, 10/15/26 (Call 10/15/23)(b) |
200 | 184,088 | ||||||
CNX Resources Corp. |
||||||||
6.00%, 01/15/29 (Call 01/15/24)(a)(b) |
285 | 266,045 | ||||||
7.25%, 03/14/27 (Call 12/01/22)(b) |
176 | 174,715 | ||||||
7.38%, 01/15/31 (Call 01/15/26)(a)(b) |
285 | 282,911 | ||||||
CrownRock LP/CrownRock Finance Inc. |
||||||||
5.00%, 05/01/29 (Call 05/01/24)(b) |
200 | 181,685 | ||||||
5.63%, 10/15/25 (Call 12/01/22)(b) |
625 | 604,500 | ||||||
Endeavor Energy Resources LP/EER Finance Inc., 5.75%, 01/30/28 (Call 01/30/23)(b) |
600 | 583,178 | ||||||
Harbour Energy PLC, 5.50%, 10/15/26 (Call 10/15/23)(b) |
325 | 292,809 | ||||||
Hilcorp Energy I LP/Hilcorp Finance Co. |
||||||||
5.75%, 02/01/29 (Call 02/01/24)(b) |
340 | 311,100 |
Security |
Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
6.00%, 04/15/30 (Call 04/15/25)(b) |
$ | 290 | $ | 262,596 | ||||
6.00%, 02/01/31 (Call 02/01/26)(b) |
325 | 294,915 | ||||||
6.25%, 11/01/28 (Call 11/01/23)(b) |
325 | 305,500 | ||||||
6.25%, 04/15/32 (Call 05/15/27)(b) |
285 | 261,411 | ||||||
Matador
Resources Co., 5.88%, 09/15/26 |
450 | 442,125 | ||||||
Murphy Oil Corp. |
||||||||
5.75%, 08/15/25 (Call 12/01/22) |
220 | 216,896 | ||||||
5.88%, 12/01/27 (Call 12/01/22) |
310 | 301,038 | ||||||
6.13%, 12/01/42 (Call 06/01/42) |
185 | 145,907 | ||||||
6.38%, 07/15/28 (Call 07/15/24) |
260 | 254,383 | ||||||
7.05%, 05/01/29 |
150 | 147,790 | ||||||
Neptune
Energy Bondco PLC, 6.63%, 05/15/25 |
525 | 509,928 | ||||||
Oasis
Petroleum Inc., 6.38%, 06/01/26 |
225 | 219,802 | ||||||
Occidental Petroleum Corp. |
||||||||
2.90%, 08/15/24 (Call 07/15/24) |
200 | 192,439 | ||||||
3.50%, 08/15/29 (Call 05/15/29) |
100 | 90,750 | ||||||
5.50%, 12/01/25 (Call 09/01/25)(a) |
480 | 481,440 | ||||||
5.55%, 03/15/26 (Call 12/15/25)(a) |
335 | 340,025 | ||||||
5.88%, 09/01/25 (Call 06/01/25) |
250 | 251,875 | ||||||
6.13%, 01/01/31 (Call 07/01/30)(a) |
415 | 416,091 | ||||||
6.20%, 03/15/40 |
400 | 384,816 | ||||||
6.38%, 09/01/28 (Call 03/01/28) |
260 | 263,889 | ||||||
6.45%, 09/15/36 |
910 | 902,702 | ||||||
6.60%, 03/15/46 (Call 09/15/45) |
625 | 615,178 | ||||||
6.63%, 09/01/30 (Call 03/01/30) |
570 | 592,831 | ||||||
6.95%, 07/01/24 |
100 | 102,461 | ||||||
7.50%, 05/01/31 |
325 | 349,375 | ||||||
7.88%, 09/15/31 |
200 | 217,662 | ||||||
7.95%, 06/15/39 |
260 | 280,959 | ||||||
8.00%, 07/15/25 (Call 04/15/25) |
175 | 184,732 | ||||||
8.50%, 07/15/27 (Call 01/15/27) |
225 | 244,631 | ||||||
8.88%, 07/15/30 (Call 01/15/30) |
385 | 436,975 | ||||||
Parkland Corp. |
||||||||
4.50%, 10/01/29 (Call 10/01/24)(b) |
450 | 378,891 | ||||||
4.63%, 05/01/30 (Call 05/01/25)(b) |
455 | 378,476 | ||||||
5.88%, 07/15/27 (Call 12/01/22)(b) |
275 | 258,375 | ||||||
Patterson-UTI Energy Inc. |
||||||||
3.95%, 02/01/28 (Call 11/01/27) |
300 | 264,880 | ||||||
5.15%, 11/15/29 (Call 08/15/29) |
175 | 154,503 | ||||||
PBF Holding Co. LLC/PBF Finance Corp. |
||||||||
6.00%, 02/15/28 (Call 02/15/23)(a) |
460 | 418,025 | ||||||
7.25%, 06/15/25 (Call 12/01/22) |
75 | 74,204 | ||||||
PDC Energy Inc., 5.75%, 05/15/26 (Call 12/01/22) |
460 | 440,984 | ||||||
Petrofac Ltd., 9.75%, 11/15/26 (Call 11/15/23)(b) |
350 | 259,394 | ||||||
Range Resources Corp. |
||||||||
4.75%, 02/15/30 (Call 02/15/25)(b) |
275 | 243,103 | ||||||
4.88%, 05/15/25 (Call 02/15/25) |
400 | 385,838 | ||||||
8.25%, 01/15/29 (Call 01/15/24) |
375 | 389,730 | ||||||
Southwestern Energy Co. |
||||||||
4.75%, 02/01/32 (Call 02/01/27) |
650 | 561,080 | ||||||
5.38%, 02/01/29 (Call 02/01/24) |
400 | 373,000 | ||||||
5.38%, 03/15/30 (Call 03/15/25) |
680 | 629,000 | ||||||
5.70%, 01/23/25 (Call 10/23/24) |
250 | 245,689 | ||||||
7.75%, 10/01/27 (Call 12/01/22) |
240 | 246,881 | ||||||
8.38%, 09/15/28 (Call 09/15/23) |
170 | 175,846 | ||||||
Sunoco LP/Sunoco Finance Corp. |
||||||||
4.50%, 05/15/29 (Call 05/15/24) |
470 | 403,683 | ||||||
4.50%, 04/30/30 (Call 04/30/25) |
443 | 376,732 | ||||||
5.88%, 03/15/28 (Call 03/15/23) |
210 | 199,915 |
76 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
6.00%, 04/15/27 (Call 12/01/22)(a) |
$ | 310 | $ | 303,738 | ||||
Viper Energy Partners LP, 5.38%, 11/01/27 (Call 12/01/22)(b) |
275 | 258,658 | ||||||
|
|
|||||||
23,371,799 | ||||||||
Packaging & Containers — 2.4% | ||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC |
||||||||
3.25%, 09/01/28 (Call 05/15/24)(b) |
520 | 426,351 | ||||||
6.00%, 06/15/27 (Call 06/15/24)(b) |
350 | 335,849 | ||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. |
||||||||
4.13%, 08/15/26 (Call 11/11/22)(b) |
615 | 528,900 | ||||||
5.25%, 04/30/25 (Call 12/01/22)(b) |
250 | 235,737 | ||||||
Ball Corp. |
||||||||
2.88%, 08/15/30 (Call 05/15/30)(a) |
700 | 543,620 | ||||||
3.13%, 09/15/31 (Call 06/15/31) |
520 | 398,164 | ||||||
4.00%, 11/15/23 |
300 | 293,770 | ||||||
4.88%, 03/15/26 (Call 12/15/25) |
450 | 431,788 | ||||||
5.25%, 07/01/25 |
555 | 547,791 | ||||||
Berry Global Inc. |
||||||||
4.50%, 02/15/26 (Call 12/01/22)(b) |
170 | 158,100 | ||||||
5.63%, 07/15/27 (Call 12/01/22)(b) |
225 | 213,401 | ||||||
Cascades Inc./Cascades USA Inc., 5.38%, 01/15/28 (Call 01/15/23)(b) |
260 | 222,365 | ||||||
Crown Americas LLC, 5.25%, 04/01/30 (Call 01/01/30)(a)(b) |
295 | 269,892 | ||||||
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)(a) |
207 | 191,227 | ||||||
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 12/01/22) |
450 | 430,699 | ||||||
Crown Cork & Seal Co. Inc., 7.38%, 12/15/26 |
225 | 227,437 | ||||||
Graphic Packaging International LLC |
||||||||
3.50%, 03/15/28(b) |
275 | 237,775 | ||||||
3.50%, 03/01/29 (Call 09/01/28)(b) |
180 | 152,029 | ||||||
3.75%, 02/01/30 (Call 08/01/29)(a)(b) |
250 | 214,940 | ||||||
4.13%, 08/15/24 (Call 05/15/24) |
113 | 110,103 | ||||||
4.75%, 07/15/27 (Call 04/15/27)(b) |
135 | 124,263 | ||||||
OI European Group BV, 4.75%, 02/15/30 (Call 11/15/24)(b) |
225 | 189,000 | ||||||
Sealed Air Corp. |
||||||||
4.00%, 12/01/27 (Call 09/01/27)(b) |
215 | 191,496 | ||||||
5.00%, 04/15/29 (Call 04/15/25)(a)(b) |
285 | 259,963 | ||||||
5.13%, 12/01/24 (Call 09/01/24)(b) |
225 | 221,625 | ||||||
5.50%, 09/15/25 (Call 06/15/25)(a)(b) |
200 | 196,000 | ||||||
6.88%, 07/15/33(b) |
235 | 225,081 | ||||||
Silgan Holdings Inc., 4.13%, 02/01/28 (Call 11/16/22) |
335 | 306,525 | ||||||
TriMas Corp., 4.13%, 04/15/29 (Call 04/15/24)(b) |
225 | 193,250 | ||||||
|
|
|||||||
8,077,141 | ||||||||
Pharmaceuticals — 1.3% | ||||||||
180
Medical Inc., 3.88%, 10/15/29 |
260 | 219,700 | ||||||
Elanco Animal Health Inc., 6.40%, 08/28/28 (Call 05/28/28) |
400 | 357,848 | ||||||
Horizon Therapeutics USA Inc., 5.50%, 08/01/27 (Call 12/01/22)(a)(b) |
350 | 336,875 | ||||||
Jazz Securities DAC, 4.38%, 01/15/29 (Call 07/15/24)(b) |
940 | 834,250 | ||||||
Organon & Co./Organon Foreign Debt Co.-Issuer BV, 4.13%, 04/30/28 (Call 04/30/24)(b) |
1,180 | 1,039,368 | ||||||
Perrigo Finance Unlimited Co. |
||||||||
3.90%, 12/15/24 (Call 09/15/24) |
450 | 428,675 | ||||||
4.38%, 03/15/26 (Call 12/15/25) |
475 | 445,008 | ||||||
4.40%, 06/15/30 (Call 03/15/30) |
400 | 334,256 | ||||||
4.90%, 12/15/44 (Call 06/15/44) |
125 | 82,118 |
Security |
Par (000) |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
PRA Health Sciences Inc., 2.88%, 07/15/26 (Call 07/15/23)(a)(b) |
$ | 225 | $ | 202,779 | ||||
|
|
|||||||
4,280,877 | ||||||||
Pipelines — 8.0% | ||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp. |
||||||||
5.38%, 06/15/29 (Call 06/15/24)(b) |
475 | 433,342 | ||||||
5.75%, 03/01/27 (Call 11/16/22)(b) |
350 | 333,305 | ||||||
5.75%, 01/15/28 (Call 01/15/23)(b) |
350 | 329,749 | ||||||
7.88%, 05/15/26 (Call 05/15/23)(b) |
300 | 306,000 | ||||||
Buckeye Partners LP |
||||||||
3.95%, 12/01/26 (Call 09/01/26) |
295 | 258,774 | ||||||
4.13%, 03/01/25 (Call 02/01/25)(b) |
295 | 278,040 | ||||||
4.13%, 12/01/27 (Call 09/01/27) |
266 | 231,058 | ||||||
4.35%, 10/15/24 (Call 07/15/24) |
125 | 119,029 | ||||||
4.50%, 03/01/28 (Call 12/01/27)(b) |
295 | 255,913 | ||||||
5.60%, 10/15/44 (Call 04/15/44) |
160 | 118,400 | ||||||
5.85%, 11/15/43 (Call 05/15/43) |
235 | 176,326 | ||||||
Cheniere Energy Inc., 4.63%, 10/15/28 (Call 10/15/23) |
757 | 698,332 | ||||||
Cheniere Energy Partners LP |
||||||||
3.25%, 01/31/32 (Call 01/31/27) |
680 | 529,156 | ||||||
4.00%, 03/01/31 (Call 03/01/26) |
835 | 703,976 | ||||||
4.50%, 10/01/29 (Call 10/01/24) |
865 | 763,752 | ||||||
CNX Midstream Partners LP, 4.75%, 04/15/30 (Call 04/15/25)(b) |
205 | 168,613 | ||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. |
||||||||
5.63%, 05/01/27 (Call 11/16/22)(b) |
300 | 282,173 | ||||||
5.75%, 04/01/25 (Call 12/01/22) |
275 | 268,125 | ||||||
6.00%, 02/01/29 (Call 02/01/24)(b) |
625 | 584,437 | ||||||
DT Midstream Inc. |
||||||||
4.13%, 06/15/29 (Call 06/15/24)(a)(b) |
635 | 548,957 | ||||||
4.38%, 06/15/31 (Call 06/15/26)(b) |
570 | 480,225 | ||||||
EnLink Midstream LLC |
||||||||
5.38%, 06/01/29 (Call 03/01/29) |
301 | 277,883 | ||||||
5.63%, 01/15/28 (Call 07/15/27)(b) |
275 | 263,574 | ||||||
6.50%, 09/01/30 (Call 03/01/30)(b) |
390 | 383,175 | ||||||
EnLink Midstream Partners LP |
||||||||
4.15%, 06/01/25 (Call 03/01/25) |
266 | 250,646 | ||||||
4.85%, 07/15/26 (Call 04/15/26) |
290 | 273,345 | ||||||
5.05%, 04/01/45 (Call 10/01/44) |
275 | 199,683 | ||||||
5.45%, 06/01/47 (Call 12/01/46) |
260 | 197,545 | ||||||
5.60%, 04/01/44 (Call 10/01/43) |
180 | 140,323 | ||||||
EQM Midstream Partners LP |
||||||||
4.00%, 08/01/24 (Call 05/01/24) |
175 | 165,743 | ||||||
4.13%, 12/01/26 (Call 09/01/26) |
300 | 265,092 | ||||||
4.50%, 01/15/29 (Call 07/15/28)(a)(b) |
450 | 382,500 | ||||||
4.75%, 01/15/31 (Call 07/15/30)(b) |
640 | 534,848 | ||||||
5.50%, 07/15/28 (Call 04/15/28) |
485 | 433,168 | ||||||
6.00%, 07/01/25 (Call 04/01/25)(b) |
225 | 217,916 | ||||||
6.50%, 07/01/27 (Call 01/01/27)(b) |
500 | 487,500 | ||||||
6.50%, 07/15/48 (Call 01/15/48) |
285 | 219,450 | ||||||
7.50%, 06/01/27 (Call 06/01/24)(b) |
295 | 291,313 | ||||||
7.50%, 06/01/30 (Call 12/01/29)(b) |
280 | 272,300 | ||||||
Harvest Midstream I LP, 7.50%, 09/01/28 (Call 09/01/23)(b) |
450 | 431,424 | ||||||
Hess Midstream Operations LP |
||||||||
4.25%, 02/15/30 (Call 02/15/25)(b) |
395 | 337,784 | ||||||
5.13%, 06/15/28 (Call 06/15/23)(a)(b) |
324 | 298,080 | ||||||
5.50%, 10/15/30 (Call 10/15/25)(b) |
275 | 248,105 | ||||||
5.63%, 02/15/26 (Call 12/01/22)(b) |
458 | 449,193 |
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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Pipelines (continued) | ||||||||
Holly Energy Partners LP/Holly Energy Finance Corp. |
||||||||
5.00%, 02/01/28 (Call 02/01/23)(a)(b) |
$ | 275 | $ | 248,544 | ||||
6.38%, 04/15/27 (Call 04/15/24)(b) |
215 | 206,930 | ||||||
Kinetik Holdings LP, 5.88%, 06/15/30 (Call 06/15/25)(b) |
570 | 534,759 | ||||||
New Fortress Energy Inc. |
||||||||
6.50%, 09/30/26 (Call 03/31/23)(b) |
830 | 805,100 | ||||||
6.75%, 09/15/25 (Call 11/21/22)(b) |
750 | 736,280 | ||||||
Northriver Midstream Finance LP, 5.63%, 02/15/26 (Call 12/01/22)(b) |
285 | 269,798 | ||||||
NuStar Logistics LP |
||||||||
5.63%, 04/28/27 (Call 01/28/27) |
310 | 287,620 | ||||||
5.75%, 10/01/25 (Call 07/01/25) |
325 | 313,375 | ||||||
6.00%, 06/01/26 (Call 03/01/26) |
305 | 295,728 | ||||||
6.38%, 10/01/30 (Call 04/01/30)(a) |
320 | 296,573 | ||||||
Rattler Midstream LP, 5.63%, 07/15/25 (Call 11/01/22)(b) |
75 | 77,110 | ||||||
Rockies Express Pipeline LLC |
||||||||
3.60%, 05/15/25 (Call 04/15/25)(b) |
150 | 139,500 | ||||||
4.80%, 05/15/30 (Call 02/15/30)(b) |
200 | 169,000 | ||||||
4.95%, 07/15/29 (Call 04/15/29)(b) |
310 | 271,959 | ||||||
6.88%, 04/15/40(b) |
300 | 244,920 | ||||||
7.50%, 07/15/38(b) |
145 | 126,513 | ||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. |
||||||||
5.50%, 01/15/28 (Call 01/15/23)(b) |
429 | 384,659 | ||||||
6.00%, 03/01/27 (Call 03/01/23)(b) |
200 | 188,734 | ||||||
6.00%, 12/31/30 (Call 12/31/25)(b) |
385 | 348,510 | ||||||
6.00%, 09/01/31 (Call 09/01/26)(b) |
275 | 244,789 | ||||||
7.50%, 10/01/25 (Call 12/01/22)(a)(b) |
330 | 333,283 | ||||||
Venture Global Calcasieu Pass LLC |
||||||||
3.88%, 11/01/33 (Call 05/01/33)(b) |
695 | 557,737 | ||||||
3.88%, 08/15/29 (Call 02/15/29)(b) |
750 | 643,125 | ||||||
4.13%, 08/15/31 (Call 02/15/31)(b) |
710 | 605,296 | ||||||
Western Midstream Operating LP |
||||||||
3.35%, 02/01/25 (Call 01/01/25) |
410 | 389,693 | ||||||
3.95%, 06/01/25 (Call 03/01/25) |
180 | 170,690 | ||||||
4.30%, 02/01/30 (Call 11/01/29) |
655 | 576,269 | ||||||
4.50%, 03/01/28 (Call 12/01/27) |
225 | 206,443 | ||||||
4.65%, 07/01/26 (Call 04/01/26) |
225 | 213,188 | ||||||
4.75%, 08/15/28 (Call 05/15/28) |
270 | 249,075 | ||||||
5.30%, 03/01/48 (Call 09/01/47) |
402 | 324,615 | ||||||
5.45%, 04/01/44 (Call 10/01/43) |
350 | 283,839 | ||||||
5.50%, 08/15/48 (Call 02/15/48) |
200 | 161,310 | ||||||
5.50%, 02/01/50 (Call 08/01/49) |
575 | 447,626 | ||||||
|
|
|||||||
26,240,862 | ||||||||
Real Estate — 0.7% | ||||||||
Cushman & Wakefield U.S. Borrower, LLC, 6.75%, 05/15/28 (Call 05/15/23)(a)(b) |
400 | 380,380 | ||||||
Greystar Real Estate Partners LLC, 5.75%, 12/01/25 (Call 12/01/22)(b) |
227 | 219,407 | ||||||
Howard Hughes Corp. (The) |
||||||||
4.13%, 02/01/29 (Call 02/01/24)(b) |
355 | 277,443 | ||||||
4.38%, 02/01/31 (Call 02/01/26)(b) |
375 | 281,775 | ||||||
5.38%, 08/01/28 (Call 08/01/23)(b) |
440 | 376,395 | ||||||
Kennedy-Wilson Inc. |
||||||||
4.75%, 03/01/29 (Call 03/01/24) |
315 | 255,444 | ||||||
4.75%, 02/01/30 (Call 09/01/24) |
350 | 274,750 | ||||||
5.00%, 03/01/31 (Call 03/01/26) |
345 | 270,480 | ||||||
Newmark Group Inc., 6.13%, 11/15/23 (Call 10/15/23) |
125 | 124,593 | ||||||
|
|
|||||||
2,460,667 |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts — 3.5% | ||||||||
American Finance Trust Inc./American Finance Operating Partner LP, 4.50%, 09/30/28 (Call 06/30/28)(b) |
$ | 285 | $ | 208,050 | ||||
Apollo Commercial Real Estate Finance Inc., 4.63%, 06/15/29 (Call 06/15/24)(b) |
235 | 185,062 | ||||||
Blackstone Mortgage Trust Inc., 3.75%, 01/15/27 (Call 10/15/26)(b) |
175 | 147,984 | ||||||
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL |
||||||||
4.50%, 04/01/27 (Call 10/01/23)(b) |
465 | 395,641 | ||||||
5.75%, 05/15/26 (Call 11/14/22)(a)(b) |
500 | 464,095 | ||||||
CTR Partnership LP/CareTrust Capital Corp., 3.88%, 06/30/28 (Call 03/30/28)(b) |
260 | 219,294 | ||||||
Global
Net Lease Inc./Global Net Lease Operating Partnership LP,
3.75%, 12/15/27 |
280 | 226,268 | ||||||
HAT Holdings I LLC/HAT Holdings II LLC |
||||||||
3.38%, 06/15/26 (Call 03/15/26)(b) |
560 | 455,291 | ||||||
3.75%, 09/15/30(b) |
235 | 162,150 | ||||||
6.00%, 04/15/25 (Call 12/01/22)(a)(b) |
175 | 166,833 | ||||||
Iron Mountain Inc. |
||||||||
4.50%, 02/15/31 (Call 02/15/26)(b) |
560 | 453,597 | ||||||
4.88%, 09/15/27 (Call 11/14/22)(b) |
530 | 490,129 | ||||||
4.88%, 09/15/29 (Call 09/15/24)(b) |
591 | 508,112 | ||||||
5.00%, 07/15/28 (Call 07/15/23)(b) |
280 | 250,488 | ||||||
5.25%, 03/15/28 (Call 12/27/22)(b) |
500 | 460,000 | ||||||
5.25%, 07/15/30 (Call 07/15/25)(b) |
740 | 638,482 | ||||||
5.63%, 07/15/32 (Call 07/15/26)(b) |
400 | 342,948 | ||||||
Iron Mountain Information Management Services Inc., 5.00%, 07/15/32 (Call 07/15/27)(b) |
380 | 313,386 | ||||||
iStar Inc. |
||||||||
4.25%, 08/01/25 (Call 05/01/25) |
310 | 299,940 | ||||||
4.75%, 10/01/24 (Call 07/01/24) |
430 | 424,582 | ||||||
5.50%, 02/15/26 (Call 12/01/22)(a) |
115 | 114,669 | ||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. |
||||||||
4.25%, 02/01/27 (Call 02/01/23)(b) |
375 | 314,947 | ||||||
4.75%, 06/15/29 (Call 06/15/24)(b) |
390 | 310,428 | ||||||
5.25%, 10/01/25 (Call 11/16/22)(b) |
180 | 166,001 | ||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||
3.50%, 03/15/31 (Call 03/15/26) |
760 | 522,243 | ||||||
4.63%, 08/01/29 (Call 08/01/24) |
520 | 411,960 | ||||||
5.00%, 10/15/27 (Call 12/01/22)(a) |
785 | 671,787 | ||||||
5.25%, 08/01/26 (Call 12/01/22) |
232 | 209,245 | ||||||
RLJ Lodging Trust LP |
||||||||
3.75%, 07/01/26 (Call 07/01/23)(b) |
275 | 251,125 | ||||||
4.00%, 09/15/29 (Call 09/15/24)(b) |
240 | 201,096 | ||||||
Service Properties Trust |
||||||||
5.50%, 12/15/27 (Call 09/15/27) |
240 | 206,976 | ||||||
7.50%, 09/15/25 (Call 06/15/25) |
450 | 438,750 | ||||||
Starwood Property Trust Inc. |
||||||||
3.63%, 07/15/26 (Call 01/15/26)(b) |
215 | 187,050 | ||||||
3.75%, 12/31/24 (Call 09/30/24)(a)(b) |
220 | 205,663 | ||||||
4.38%, 01/15/27 (Call 07/15/26)(b) |
325 | 287,063 | ||||||
4.75%, 03/15/25 (Call 09/15/24) |
275 | 257,633 | ||||||
5.50%, 11/01/23 (Call 08/01/23)(b) |
75 | 74,045 | ||||||
|
|
|||||||
11,643,013 | ||||||||
Retail — 4.8% | ||||||||
1011778 BC ULC/New Red Finance Inc. |
||||||||
3.50%, 02/15/29 (Call 02/15/24)(b) |
395 | 330,812 | ||||||
3.88%, 01/15/28 (Call 12/01/22)(b) |
845 | 742,692 | ||||||
5.75%, 04/15/25 (Call 12/01/22)(b) |
275 | 273,969 |
78 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Retail (continued) |
| |||||||
Abercrombie & Fitch Management Co., 8.75%, 07/15/25 (Call 11/16/22)(a)(b) |
$ | 150 | $ | 141,757 | ||||
Academy Ltd., 6.00%, 11/15/27 (Call 11/15/23)(b) |
200 | 187,750 | ||||||
Asbury Automotive Group Inc. |
||||||||
4.50%, 03/01/28 (Call 03/01/23) |
235 | 203,734 | ||||||
4.63%, 11/15/29 (Call 11/15/24)(b) |
450 | 370,125 | ||||||
4.75%, 03/01/30 (Call 03/01/25) |
235 | 192,521 | ||||||
5.00%, 02/15/32 (Call 11/15/26)(b) |
355 | 286,219 | ||||||
Bath & Body Works Inc. |
||||||||
5.25%, 02/01/28 |
275 | 243,237 | ||||||
6.63%, 10/01/30 (Call 10/01/25)(b) |
575 | 514,404 | ||||||
6.69%, 01/15/27 |
152 | 143,260 | ||||||
6.75%, 07/01/36 |
410 | 338,762 | ||||||
6.88%, 11/01/35 |
565 | 474,600 | ||||||
7.50%, 06/15/29 (Call 06/15/24)(a) |
275 | 260,638 | ||||||
9.38%, 07/01/25(b) |
135 | 140,063 | ||||||
Beacon Roofing Supply Inc., 4.50%, 11/15/26 (Call 12/01/22)(b) |
125 | 114,076 | ||||||
FirstCash Inc. |
||||||||
4.63%, 09/01/28 (Call 09/01/23)(b) |
275 | 236,676 | ||||||
5.63%, 01/01/30 (Call 01/01/25)(b) |
240 | 211,559 | ||||||
Foot Locker Inc., 4.00%, 10/01/29 (Call 10/01/24)(b) |
200 | 152,894 | ||||||
Gap Inc. (The) |
||||||||
3.63%, 10/01/29 (Call 10/01/24)(b) |
425 | 297,812 | ||||||
3.88%, 10/01/31 (Call 10/01/26)(a)(b) |
410 | 282,900 | ||||||
Group 1 Automotive Inc., 4.00%, 08/15/28 (Call 08/15/23)(b) |
435 | 357,740 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/27 (Call 12/01/22)(b) |
410 | 391,382 | ||||||
Lithia Motors Inc. |
||||||||
3.88%, 06/01/29 (Call 06/01/24)(b) |
425 | 342,422 | ||||||
4.38%, 01/15/31 (Call 10/15/25)(a)(b) |
330 | 267,937 | ||||||
4.63%, 12/15/27 (Call 12/15/22)(b) |
225 | 200,228 | ||||||
Macy’s Retail Holdings LLC |
||||||||
4.30%, 02/15/43 (Call 08/15/42) |
220 | 128,850 | ||||||
4.50%, 12/15/34 (Call 06/15/34) |
165 | 112,945 | ||||||
5.13%, 01/15/42 (Call 07/15/41) |
110 | 69,850 | ||||||
5.88%, 04/01/29 (Call 04/01/24)(b) |
275 | 237,502 | ||||||
5.88%, 03/15/30 (Call 03/15/25)(a)(b) |
235 | 197,295 | ||||||
6.13%, 03/15/32 (Call 03/15/27)(a)(b) |
240 | 199,408 | ||||||
Marks & Spencer PLC, 7.13%, 12/01/37(b) |
180 | 155,069 | ||||||
Murphy Oil USA Inc. |
||||||||
3.75%, 02/15/31 (Call 02/15/26)(b) |
290 | 241,645 | ||||||
4.75%, 09/15/29 (Call 09/15/24) |
239 | 215,100 | ||||||
5.63%, 05/01/27 (Call 12/01/22) |
138 | 132,429 | ||||||
Nordstrom Inc. |
||||||||
2.30%, 04/08/24 (Call 11/16/22) |
125 | 117,311 | ||||||
4.00%, 03/15/27 (Call 12/15/26)(a) |
145 | 122,934 | ||||||
4.25%, 08/01/31 (Call 05/01/31) |
231 | 167,706 | ||||||
4.38%, 04/01/30 (Call 01/01/30)(a) |
300 | 230,250 | ||||||
5.00%, 01/15/44 (Call 07/15/43) |
560 | 354,256 | ||||||
6.95%, 03/15/28 |
200 | 185,724 | ||||||
Penske Automotive Group Inc. |
||||||||
3.50%, 09/01/25 (Call 12/01/22) |
300 | 278,874 | ||||||
3.75%, 06/15/29 (Call 06/15/24) |
275 | 225,761 | ||||||
QVC Inc. |
||||||||
4.38%, 09/01/28 (Call 06/01/28) |
245 | 177,625 | ||||||
4.45%, 02/15/25 (Call 11/15/24) |
290 | 253,640 | ||||||
4.75%, 02/15/27 (Call 11/15/26) |
310 | 245,594 | ||||||
4.85%, 04/01/24 |
325 | 311,252 | ||||||
5.45%, 08/15/34 (Call 02/15/34)(a) |
355 | 223,650 |
Security |
Par (000) |
Value | ||||||
Retail (continued) |
| |||||||
5.95%, 03/15/43 |
$ | 100 | $ | 61,000 | ||||
Sally Holdings LLC/Sally Capital Inc., 5.63%, 12/01/25 (Call 12/01/22) |
325 | 306,312 | ||||||
Sonic Automotive Inc. |
||||||||
4.63%, 11/15/29 (Call 11/15/24)(a)(b) |
362 | 283,417 | ||||||
4.88%, 11/15/31 (Call 11/15/26)(b) |
301 | 227,081 | ||||||
Superior Plus LP/Superior General Partner Inc., 4.50%, 03/15/29 (Call 03/15/24)(a)(b) |
310 | 262,766 | ||||||
Vivo Energy Investments BV, 5.13%, 09/24/27 (Call 09/24/23)(a)(b) |
150 | 134,250 | ||||||
Yum! Brands Inc. |
||||||||
3.63%, 03/15/31 (Call 12/15/30)(a) |
615 | 493,537 | ||||||
3.88%, 11/01/23 (Call 08/01/23)(a) |
75 | 73,688 | ||||||
4.63%, 01/31/32 (Call 10/01/26) |
625 | 534,394 | ||||||
4.75%, 01/15/30 (Call 10/15/29)(b) |
425 | 379,844 | ||||||
5.35%, 11/01/43 (Call 05/01/43) |
190 | 151,050 | ||||||
5.38%, 04/01/32 (Call 04/01/27) |
540 | 483,014 | ||||||
6.88%, 11/15/37 |
200 | 196,000 | ||||||
|
|
|||||||
15,871,192 | ||||||||
Savings & Loans — 0.1% | ||||||||
New York Community Bancorp Inc., 5.90%, 11/06/28 (Call 11/06/23), (3 mo. LIBOR US + 2.780%)(d) |
200 | 195,197 | ||||||
|
|
|||||||
Semiconductors — 0.6% | ||||||||
Amkor Technology Inc., 6.63%, 09/15/27 (Call 12/01/22)(a)(b) |
275 | 271,472 | ||||||
ams-OSRAM
AG, 7.00%, 07/31/25 |
245 | 218,809 | ||||||
Entegris
Escrow Corp., 5.95%, 06/15/30 |
495 | 451,687 | ||||||
Entegris Inc. |
||||||||
3.63%, 05/01/29 (Call 05/01/24)(b) |
230 | 187,646 | ||||||
4.38%, 04/15/28 (Call 04/15/23)(b) |
225 | 197,899 | ||||||
ON Semiconductor Corp., 3.88%, 09/01/28 (Call 09/01/23)(b) |
430 | 378,873 | ||||||
Synaptics Inc., 4.00%, 06/15/29 (Call 06/15/24)(a)(b) |
220 | 181,724 | ||||||
|
|
|||||||
1,888,110 | ||||||||
Software — 1.7% | ||||||||
Fair Isaac Corp. |
||||||||
4.00%, 06/15/28 (Call 12/15/22)(b) |
455 | 411,702 | ||||||
5.25%, 05/15/26 (Call 02/15/26)(b) |
215 | 212,786 | ||||||
MSCI Inc. |
||||||||
3.25%, 08/15/33 (Call 08/15/27)(b) |
390 | 301,489 | ||||||
3.63%, 09/01/30 (Call 03/01/25)(a)(b) |
540 | 451,224 | ||||||
3.63%, 11/01/31 (Call 11/01/26)(b) |
350 | 288,062 | ||||||
3.88%, 02/15/31 (Call 06/01/25)(a)(b) |
570 | 480,288 | ||||||
4.00%, 11/15/29 (Call 11/15/24)(a)(b) |
540 | 468,893 | ||||||
Open Text Corp. |
||||||||
3.88%, 02/15/28 (Call 02/15/23)(b) |
525 | 449,368 | ||||||
3.88%, 12/01/29 (Call 12/01/24)(b) |
460 | 364,550 | ||||||
Open Text Holdings Inc. |
||||||||
4.13%, 02/15/30 (Call 02/15/25)(b) |
525 | 418,031 | ||||||
4.13%, 12/01/31 (Call 12/01/26)(b) |
353 | 265,633 | ||||||
PTC Inc. |
||||||||
3.63%, 02/15/25 (Call 12/01/22)(b) |
270 | 257,318 | ||||||
4.00%, 02/15/28 (Call 02/15/23)(b) |
210 | 190,204 | ||||||
ROBLOX Corp., 3.88%, 05/01/30 (Call 11/01/24)(b) |
570 | 470,250 | ||||||
Twilio Inc. |
||||||||
3.63%, 03/15/29 (Call 03/15/24) |
275 | 227,084 | ||||||
3.88%, 03/15/31 (Call 03/15/26) |
260 | 212,043 | ||||||
|
|
|||||||
5,468,925 |
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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
|
||||||||
Telecommunications — 6.0% |
| |||||||
British Telecommunications PLC |
||||||||
4.25%, 11/23/81 (Call 11/23/26)(b)(d) |
$ | 285 | $ | 237,573 | ||||
4.88%, 11/23/81 (Call 08/23/31)(b)(d) |
275 | 217,676 | ||||||
Ciena Corp., 4.00%, 01/31/30 (Call 01/31/25)(b) |
250 | 211,250 | ||||||
Hughes Satellite Systems Corp., 5.25%, 08/01/26 |
435 | 415,247 | ||||||
Level 3 Financing Inc. |
||||||||
3.40%, 03/01/27 (Call 01/01/27)(b) |
425 | 365,865 | ||||||
3.63%, 01/15/29 (Call 01/15/24)(b) |
455 | 346,938 | ||||||
3.75%, 07/15/29 (Call 01/15/24)(b) |
475 | 360,877 | ||||||
3.88%, 11/15/29 (Call 08/15/29)(b) |
387 | 318,308 | ||||||
4.25%, 07/01/28 (Call 07/01/23)(b) |
685 | 565,125 | ||||||
4.63%, 09/15/27 (Call 12/01/22)(a)(b) |
550 | 477,268 | ||||||
Lumen Technologies Inc. |
||||||||
4.00%, 02/15/27 (Call 02/15/23)(b) |
715 | 607,893 | ||||||
4.50%, 01/15/29 (Call 01/15/24)(b) |
510 | 359,526 | ||||||
5.13%, 12/15/26 (Call 12/15/22)(a)(b) |
450 | 385,312 | ||||||
5.38%, 06/15/29 (Call 06/15/24)(b) |
280 | 205,629 | ||||||
Series P, 7.60%, 09/15/39 |
300 | 200,988 | ||||||
Series U, 7.65%, 03/15/42 |
275 | 182,181 | ||||||
Millicom International Cellular SA |
||||||||
4.50%, 04/27/31 (Call 04/27/26)(b) |
485 | 363,589 | ||||||
5.13%, 01/15/28 (Call 12/01/22)(b) |
248 | 211,842 | ||||||
6.25%, 03/25/29 (Call 03/25/24)(b) |
338 | 295,313 | ||||||
Nokia OYJ |
||||||||
4.38%, 06/12/27 |
285 | 262,095 | ||||||
6.63%, 05/15/39 |
285 | 260,006 | ||||||
Qwest Corp., 7.25%, 09/15/25(a) |
190 | 191,873 | ||||||
Sable International Finance Ltd., 5.75%, 09/07/27 (Call 12/01/22)(b) |
255 | 226,007 | ||||||
Sprint Capital Corp. |
||||||||
6.88%, 11/15/28 |
1,390 | 1,434,452 | ||||||
8.75%, 03/15/32 |
1,155 | 1,355,554 | ||||||
Sprint Corp. |
||||||||
7.13%, 06/15/24 |
1,095 | 1,106,991 | ||||||
7.63%, 02/15/25 (Call 11/15/24) |
865 | 888,787 | ||||||
7.63%, 03/01/26 (Call 11/01/25) |
830 | 866,312 | ||||||
Switch Ltd. |
||||||||
3.75%, 09/15/28 (Call 09/15/23)(b) |
125 | 126,250 | ||||||
4.13%, 06/15/29 (Call 06/15/24)(b) |
125 | 125,063 | ||||||
Telecom Italia Capital SA |
||||||||
6.00%, 09/30/34 |
591 | 431,270 | ||||||
6.38%, 11/15/33 |
555 | 426,462 | ||||||
7.20%, 07/18/36 |
525 | 408,849 | ||||||
7.72%, 06/04/38 |
600 | 477,000 | ||||||
Telecom Italia SpA/Milano, 5.30%, 05/30/24(b) |
760 | 714,985 | ||||||
U.S. Cellular Corp., 6.70%, 12/15/33 |
295 | 280,967 | ||||||
ViaSat Inc., 5.63%, 04/15/27 (Call 11/14/22)(b) |
310 | 286,620 | ||||||
Viavi
Solutions Inc., 3.75%, 10/01/29 |
220 | 183,676 | ||||||
Vmed O2 UK Financing I PLC |
||||||||
4.25%, 01/31/31 (Call 01/31/26)(b) |
725 | 576,440 | ||||||
4.75%, 07/15/31 (Call 07/15/26)(b) |
820 | 662,609 | ||||||
Vodafone Group PLC |
||||||||
3.25%, 06/04/81 (Call 06/04/26)(d) |
300 | 240,531 | ||||||
4.13%, 06/04/81 (Call 03/04/31)(d) |
535 | 379,454 | ||||||
5.13%, 06/04/81 (Call 12/04/50)(d) |
520 | 359,341 | ||||||
7.00%, 04/04/79 (Call 01/04/29)(d) |
1,110 | 1,054,500 | ||||||
|
|
|||||||
19,654,494 |
Security |
Par/ Shares (000) |
Value | ||||||
|
||||||||
Toys, Games & Hobbies — 0.3% |
| |||||||
Mattel Inc. |
||||||||
3.38%, 04/01/26 (Call 04/01/23)(a)(b) |
$ | 305 | $ | 278,195 | ||||
3.75%, 04/01/29 (Call 04/01/24)(b) |
340 | 293,404 | ||||||
5.45%, 11/01/41 (Call 05/01/41) |
175 | 135,992 | ||||||
5.88%, 12/15/27 (Call 12/15/22)(b) |
275 | 266,855 | ||||||
6.20%, 10/01/40 |
160 | 136,328 | ||||||
|
|
|||||||
1,110,774 | ||||||||
Transportation — 0.3% | ||||||||
Cargo Aircraft Management Inc., 4.75%, 02/01/28 (Call 02/01/23)(b) |
300 | 267,564 | ||||||
Danaos Corp., 8.50%, 03/01/28 (Call 03/01/24)(b) |
190 | 174,774 | ||||||
First Student Bidco Inc./First Transit Parent Inc., 4.00%, 07/31/29 (Call 07/31/24)(b) |
460 | 373,796 | ||||||
XPO Escrow Sub LLC, 7.50%, 11/15/27 |
45 | 44,888 | ||||||
|
|
|||||||
861,022 | ||||||||
Trucking & Leasing — 0.4% | ||||||||
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25)(b)(d) |
375 | 342,188 | ||||||
Fortress Transportation and Infrastructure Investors LLC |
||||||||
5.50%, 05/01/28 (Call 05/01/24)(b) |
575 | 480,778 | ||||||
6.50%, 10/01/25 (Call 12/01/22)(b) |
380 | 364,661 | ||||||
9.75%, 08/01/27 (Call 08/01/23)(b) |
225 | 229,069 | ||||||
|
|
|||||||
1,416,696 | ||||||||
|
|
|||||||
Total
Long-Term Investments — 97.5% |
|
321,684,876 | ||||||
|
|
|||||||
Short-Term Securities |
| |||||||
Money Market Funds — 10.4% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.29%(f)(g)(h) |
29,802 | 29,796,195 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.97%(f)(g) |
4,350 | 4,350,000 | ||||||
|
|
|||||||
Total
Short-Term Securities — 10.4% |
34,146,195 | |||||||
|
|
|||||||
Total
Investments — 107.9% |
|
355,831,071 | ||||||
Liabilities in Excess of Other Assets — (7.9)% |
(26,030,302 | ) | ||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 329,800,769 | ||||||
|
|
(a) |
All or a portion of this security is on loan. |
(b) |
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. |
(c) |
Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
(d) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(e) |
Perpetual security with no stated maturity date. |
(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. |
80 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® BB Rated Corporate Bond ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income |
Capital Gain Distributions from |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 7,575,790 | $ | 22,229,366 | (a) | $ | — | $ | (5,586 | ) | $ | (3,375 | ) | $ | 29,796,195 | 29,802 | $ | 48,347 | (b) | $ | — | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
970,000 | 3,380,000 | (a) | — | — | — | 4,350,000 | 4,350 | 29,459 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (5,586 | ) | $ | (3,375 | ) | $ | 34,146,195 | $ | 77,806 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Corporate Bonds & Notes |
$ | — | $ | 321,684,876 | $ | — | $ | 321,684,876 | ||||||||
Money Market Funds |
34,146,195 | — | — | 34,146,195 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 34,146,195 | $ | 321,684,876 | $ | — | $ | 355,831,071 | |||||||||
|
|
|
|
|
|
|
|
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 |
81 |
Schedule of Investments October 31, 2022 |
iShares® Convertible Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Convertible Bonds |
| |||||||
Airlines — 2.4% |
| |||||||
American Airlines Group Inc., 6.50%, 07/01/25 |
$ | 8,720 | $ | 9,829,184 | ||||
Copa Holdings SA, 4.50%, 04/15/25 |
3,150 | 4,968,873 | ||||||
GOL Equity Finance SA, 3.75%, 07/15/24(a) |
3,800 | 1,678,308 | ||||||
JetBlue Airways Corp., 0.50%, 04/01/26 |
6,525 | 4,878,220 | ||||||
Southwest Airlines Co., 1.25%, 05/01/25 |
14,830 | 18,361,764 | ||||||
Spirit Airlines Inc., 1.00%, 05/15/26 |
4,350 | 3,588,359 | ||||||
|
|
|||||||
43,304,708 | ||||||||
Auto Manufacturers — 2.9% | ||||||||
Arrival SA, 3.50%, 12/01/26(a) |
2,825 | 823,064 | ||||||
Fisker Inc., 2.50%, 09/15/26(a) |
5,950 | 3,242,988 | ||||||
Ford Motor Co., 0.00% 03/15/26(b) |
21,290 | 21,504,390 | ||||||
Li Auto Inc., 0.25%, 05/01/28 |
7,625 | 6,136,143 | ||||||
Lucid Group Inc., 1.25%, 12/15/26(a) |
17,775 | 11,180,119 | ||||||
NIO Inc. |
||||||||
0.00%, 02/01/26(b) |
6,875 | 5,534,306 | ||||||
0.50%, 02/01/27 |
6,725 | 4,799,498 | ||||||
|
|
|||||||
53,220,508 | ||||||||
Auto Parts & Equipment — 0.2% | ||||||||
Luminar Technologies Inc., 1.25%, 12/15/26(a) |
5,450 | 3,619,618 | ||||||
|
|
|||||||
Banks — 0.7% | ||||||||
Barclays Bank PLC, Series VUN, 0.00% 02/18/25(b) |
2,300 | 2,447,982 | ||||||
BofA Finance LLC, 0.25%, 05/01/23 |
2,260 | 2,399,578 | ||||||
Deutsche Bank AG/London, 1.00%, 05/01/23 |
2,870 | 3,065,102 | ||||||
JPMorgan Chase Bank NA, 0.13%, 01/01/23(a) |
5,025 | 4,992,840 | ||||||
|
|
|||||||
12,905,502 | ||||||||
Biotechnology — 6.3% | ||||||||
Alnylam Pharmaceuticals Inc., 1.00%, 09/15/27(a) |
9,275 | 9,291,695 | ||||||
BioMarin Pharmaceutical Inc. |
||||||||
0.60%, 08/01/24 |
4,320 | 4,315,680 | ||||||
1.25%, 05/15/27 |
5,428 | 5,416,873 | ||||||
Bridgebio Pharma Inc. |
||||||||
2.25%, 02/01/29 |
6,425 | 2,724,907 | ||||||
2.50%, 03/15/27 |
5,195 | 3,043,595 | ||||||
Cerevel Therapeutics Holdings Inc., 2.50%, 08/15/27(a) |
3,100 | 2,845,583 | ||||||
Cytokinetics Inc., 3.50%, 07/01/27(a) |
4,850 | 5,452,273 | ||||||
Esperion Therapeutics Inc., 4.00%, 11/15/25 |
2,300 | 1,228,936 | ||||||
Global Blood Therapeutics Inc., 1.88%, 12/15/28(a) |
3,350 | 7,499,611 | ||||||
Guardant Health Inc., 0.00% 11/15/27(b) |
9,965 | 7,069,769 | ||||||
Halozyme Therapeutics Inc. |
||||||||
0.25%, 03/01/27 |
7,010 | 6,255,864 | ||||||
1.00%, 08/15/28(a) |
6,300 | 6,649,461 | ||||||
Illumina Inc., 0.00% 08/15/23(b) |
6,540 | 6,323,003 | ||||||
Innoviva Inc., 2.13%, 03/15/28(a) |
2,375 | 1,929,782 | ||||||
Insmed Inc., 0.75%, 06/01/28 |
5,000 | 3,945,950 | ||||||
Ionis Pharmaceuticals Inc. |
||||||||
0.00%, 04/01/26(b) |
5,800 | 5,737,882 | ||||||
0.13%, 12/15/24 |
4,776 | 4,395,114 | ||||||
Livongo Health Inc., 0.88%, 06/01/25 |
4,800 | 4,171,440 | ||||||
NeoGenomics Inc., 0.25%, 01/15/28 |
2,650 | 1,605,291 | ||||||
Novavax Inc., 3.75%, 02/01/23 |
2,675 | 2,632,334 | ||||||
PTC Therapeutics Inc., 1.50%, 09/15/26 |
2,600 | 2,599,922 | ||||||
Sarepta Therapeutics Inc. |
||||||||
1.25%, 09/15/27(a) |
7,175 | 7,667,061 | ||||||
1.50%, 11/15/24 |
5,400 | 9,149,382 | ||||||
Travere Therapeutics Inc., 2.25%, 03/01/29 |
3,000 | 2,807,400 | ||||||
|
|
|||||||
114,758,808 |
Security |
Par (000) |
Value | ||||||
Chemicals — 0.2% |
| |||||||
Amyris Inc., 1.50%, 11/15/26(a) |
$ | 5,875 | $ | 2,800,848 | ||||
|
|
|||||||
Coal — 0.2% | ||||||||
Peabody Energy Corp., 3.25%, 03/01/28(a) |
2,900 | 4,172,433 | ||||||
|
|
|||||||
Commercial Services — 4.1% | ||||||||
2U Inc., 2.25%, 05/01/25 |
3,539 | 2,252,043 | ||||||
Affirm Holdings Inc., 0.00% 11/15/26(a)(b) |
15,250 | 9,630,985 | ||||||
Alarm.com Holdings Inc., 0.00% 01/15/26(b) |
4,345 | 3,528,661 | ||||||
Block Inc. |
||||||||
0.13%, 03/01/25 |
8,876 | 8,256,544 | ||||||
0.50%, 05/15/23 |
4,005 | 4,214,622 | ||||||
Block Inc. |
||||||||
0.00%, 05/01/26(b) |
4,975 | 3,984,875 | ||||||
0.25%, 11/01/27 |
5,279 | 3,935,706 | ||||||
Chegg Inc. |
||||||||
0.00%, 09/01/26(b) |
5,880 | 4,579,932 | ||||||
0.13%, 03/15/25 |
6,281 | 5,459,696 | ||||||
Euronet Worldwide Inc., 0.75%, 03/15/49 (Call 03/20/25) |
4,739 | 4,373,291 | ||||||
FTI Consulting Inc., 2.00%, 08/15/23 |
2,829 | 4,391,740 | ||||||
Marathon Digital Holdings Inc., 1.00%, 12/01/26(a) |
6,300 | 2,504,250 | ||||||
Repay Holdings Corp., 0.00% 02/01/26(a)(b) |
3,680 | 2,526,099 | ||||||
Sabre GLBL Inc., 4.00%, 04/15/25 |
3,188 | 3,244,810 | ||||||
Shift4 Payments Inc. |
||||||||
0.00%, 12/15/25(b) |
6,285 | 5,652,352 | ||||||
0.50%, 08/01/27 |
5,325 | 4,117,237 | ||||||
Stride Inc., 1.13%, 09/01/27 |
3,792 | 3,410,032 | ||||||
|
|
|||||||
76,062,875 | ||||||||
Computers — 4.4% | ||||||||
3D Systems Corp., 0.00% 11/15/26(a)(b) |
4,000 | 2,819,600 | ||||||
CyberArk Software Ltd., 0.00% 11/15/24(b) |
5,300 | 6,207,413 | ||||||
Insight Enterprises Inc., 0.75%, 02/15/25 |
3,026 | 4,337,075 | ||||||
KBR Inc., 2.50%, 11/01/23 |
3,040 | 6,057,443 | ||||||
Lumentum Holdings Inc. |
||||||||
0.25%, 03/15/24 |
3,860 | 5,065,092 | ||||||
0.50%, 12/15/26 |
9,364 | 9,174,660 | ||||||
0.50%, 06/15/28(a) |
7,500 | 6,328,500 | ||||||
PAR Technology Corp., 1.50%, 10/15/27 |
2,300 | 1,681,921 | ||||||
Parsons Corp., 0.25%, 08/15/25 |
3,490 | 4,010,045 | ||||||
Pure Storage Inc., 0.13%, 04/15/23 |
5,145 | 6,246,133 | ||||||
Rapid7 Inc., 0.25%, 03/15/27 |
5,400 | 4,261,572 | ||||||
Varonis Systems Inc., 1.25%, 08/15/25 |
2,205 | 2,459,700 | ||||||
Western Digital Corp., 1.50%, 02/01/24 |
9,915 | 9,473,782 | ||||||
Zscaler Inc., 0.13%, 07/01/25 |
10,307 | 12,674,827 | ||||||
|
|
|||||||
80,797,763 | ||||||||
Cosmetics & Personal Care — 0.3% | ||||||||
Beauty Health Co. (The), 1.25%, 10/01/26(a) |
6,750 | 5,349,645 | ||||||
|
|
|||||||
Diversified Financial Services — 1.7% | ||||||||
Coinbase Global Inc., 0.50%, 06/01/26 |
13,550 | 9,087,714 | ||||||
JPMorgan Chase Financial Co. LLC, 0.25%, 05/01/23(a) |
4,925 | 5,303,683 | ||||||
LendingTree Inc., 0.50%, 07/15/25 |
4,761 | 3,389,546 | ||||||
PRA Group Inc., 3.50%, 06/01/23 |
3,025 | 2,993,147 | ||||||
SoFi Technologies Inc., 0.00% 10/15/26(a)(b) |
10,893 | 7,843,723 | ||||||
Upstart Holdings Inc., 0.25%, 08/15/26 |
5,950 | 3,310,401 | ||||||
|
|
|||||||
31,928,214 | ||||||||
Electric — 0.6% | ||||||||
NRG Energy Inc., 2.75%, 06/01/48 (Call 06/01/25) |
5,137 | 6,020,204 | ||||||
Ormat Technologies Inc., 2.50%, 07/15/27(a) |
3,950 | 4,687,702 | ||||||
|
|
|||||||
10,707,906 |
82 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Convertible Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Electronics — 0.4% |
| |||||||
Itron Inc., 0.00% 03/15/26(b) |
$ | 3,875 | $ | 3,107,673 | ||||
Vishay Intertechnology Inc., 2.25%, 06/15/25 |
4,084 | 3,948,207 | ||||||
|
|
|||||||
7,055,880 | ||||||||
Energy - Alternate Sources — 2.7% | ||||||||
Array Technologies Inc., 1.00%, 12/01/28(a) |
3,250 | 2,970,792 | ||||||
Enphase Energy Inc. |
||||||||
0.00%, 03/01/26(b) |
5,868 | 7,197,395 | ||||||
0.00%, 03/01/28(b) |
5,015 | 6,451,848 | ||||||
NextEra Energy Partners LP |
||||||||
0.00%, 06/15/24(a)(b) |
4,325 | 4,164,413 | ||||||
0.00%, 11/15/25(a)(b) |
5,595 | 5,803,302 | ||||||
SolarEdge Technologies Inc., 0.00% 09/15/25(b) |
5,510 | 6,180,181 | ||||||
Stem Inc., 0.50%, 12/01/28(a) |
4,000 | 3,014,120 | ||||||
Sunnova Energy International Inc. |
||||||||
0.25%, 12/01/26 |
5,000 | 3,855,050 | ||||||
2.63%, 02/15/28(a) |
5,500 | 4,447,025 | ||||||
SunPower Corp., 4.00%, 01/15/23 |
3,975 | 4,035,301 | ||||||
Sunrun Inc., 0.00% 02/01/26(b)(c) |
3,225 | 2,154,171 | ||||||
|
|
|||||||
50,273,598 | ||||||||
Entertainment — 1.9% | ||||||||
Cinemark Holdings Inc., 4.50%, 08/15/25 |
3,990 | 4,132,962 | ||||||
DraftKings Inc., 0.00% 03/15/28(b) |
11,175 | 6,973,424 | ||||||
Live Nation Entertainment Inc. |
||||||||
2.00%, 02/15/25 |
3,688 | 3,800,336 | ||||||
2.50%, 03/15/23 |
4,765 | 5,773,274 | ||||||
Marriott Vacations Worldwide Corp., 0.00% 01/15/26(b) |
5,205 | 5,310,453 | ||||||
Penn National Gaming Inc., 2.75%, 05/15/26 |
3,114 | 4,937,808 | ||||||
Vail Resorts Inc., 0.00% 01/01/26(b) |
5,200 | 4,629,040 | ||||||
|
|
|||||||
35,557,297 | ||||||||
Food — 0.4% | ||||||||
Beyond Meat Inc., 0.00% 03/15/27(b) |
10,675 | 2,821,189 | ||||||
Post Holdings Inc., 2.50%, 08/15/27(a) |
5,175 | 5,391,522 | ||||||
|
|
|||||||
8,212,711 | ||||||||
Health Care - Products — 4.4% | ||||||||
Alphatec Holdings Inc., 0.75%, 08/01/26 |
2,600 | 2,202,070 | ||||||
CONMED Corp., 2.25%, 06/15/27(a) |
7,150 | 6,245,168 | ||||||
Envista Holdings Corp., 2.38%, 06/01/25 |
4,751 | 7,871,172 | ||||||
Exact Sciences Corp. |
||||||||
0.38%, 03/15/27 |
6,505 | 4,586,415 | ||||||
0.38%, 03/01/28 |
10,235 | 6,597,481 | ||||||
1.00%, 01/15/25 |
2,275 | 2,081,716 | ||||||
Glaukos Corp., 2.75%, 06/15/27 |
2,498 | 3,310,924 | ||||||
Haemonetics Corp., 0.00% 03/01/26(b) |
4,350 | 3,585,140 | ||||||
Insulet Corp., 0.38%, 09/01/26 |
6,965 | 9,010,481 | ||||||
Integra LifeSciences Holdings Corp., 0.50%, 08/15/25 |
5,013 | 4,667,755 | ||||||
LivaNova USA Inc., 3.00%, 12/15/25 |
2,495 | 2,695,124 | ||||||
Natera Inc., 2.25%, 05/01/27 |
2,614 | 3,707,018 | ||||||
Novocure Ltd., 0.00% 11/01/25(b) |
5,010 | 4,328,840 | ||||||
NuVasive Inc. |
||||||||
0.38%, 03/15/25 |
3,916 | 3,421,840 | ||||||
1.00%, 06/01/23 |
3,886 | 3,790,055 | ||||||
Omnicell Inc., 0.25%, 09/15/25 |
5,018 | 5,012,530 | ||||||
Repligen Corp., 0.38%, 07/15/24 |
2,504 | 4,250,064 | ||||||
SmileDirectClub Inc., 0.00% 02/01/26(a)(b) |
5,125 | 495,895 | ||||||
Tandem Diabetes Care Inc., 1.50%, 05/01/25(a) |
2,475 | 2,326,005 | ||||||
|
|
|||||||
80,185,693 | ||||||||
Health Care - Services — 0.9% | ||||||||
Accolade Inc., 0.50%, 04/01/26 |
2,375 | 1,764,672 | ||||||
Invitae Corp., 2.00%, 09/01/24 |
3,055 | 2,450,141 |
Security |
Par (000) |
Value | ||||||
Health Care - Services (continued) |
| |||||||
Oak Street Health Inc., 0.00% 03/15/26(b) |
$ | 8,000 | $ | 6,093,760 | ||||
Teladoc Health Inc., 1.25%, 06/01/27 |
8,865 | 6,663,466 | ||||||
|
|
|||||||
16,972,039 | ||||||||
Holding Companies - Diversified — 0.2% | ||||||||
Ares Capital Corp., 4.63%, 03/01/24 |
3,685 | 3,958,059 | ||||||
|
|
|||||||
Home Builders — 0.4% | ||||||||
LCI Industries, 1.13%, 05/15/26 |
4,300 | 3,767,961 | ||||||
Winnebago Industries Inc., 1.50%, 04/01/25 |
2,625 | 2,938,058 | ||||||
|
|
|||||||
6,706,019 | ||||||||
Internet — 21.6% | ||||||||
Airbnb Inc., 0.00% 03/15/26(b) |
17,600 | 14,727,680 | ||||||
Booking Holdings Inc., 0.75%, 05/01/25 |
7,706 | 9,978,731 | ||||||
Etsy Inc. |
||||||||
0.13%, 10/01/26 |
5,807 | 7,481,913 | ||||||
0.13%, 09/01/27 |
5,823 | 5,031,363 | ||||||
0.25%, 06/15/28 |
8,925 | 6,913,751 | ||||||
Expedia Group Inc., 0.00% 02/15/26(b) |
8,920 | 7,702,598 | ||||||
Farfetch Ltd., 3.75%, 05/01/27 |
3,575 | 3,383,988 | ||||||
Fiverr International Ltd., 0.00% 11/01/25(b) |
4,014 | 3,184,306 | ||||||
fuboTV Inc., 3.25%, 02/15/26 |
3,500 | 1,772,890 | ||||||
Hello Group Inc., 1.25%, 07/01/25 |
5,003 | 4,628,075 | ||||||
iQIYI Inc. |
||||||||
2.00%, 04/01/25, (Put 04/01/23) |
9,044 | 7,335,679 | ||||||
3.75%, 12/01/23 |
950 | 887,414 | ||||||
4.00%, 12/15/26 |
8,535 | 5,388,145 | ||||||
JOYY Inc. |
||||||||
0.75%, 06/15/25 |
4,405 | 4,108,808 | ||||||
1.38%, 06/15/26 |
4,350 | 3,663,179 | ||||||
Lyft Inc., 1.50%, 05/15/25 |
6,690 | 5,923,928 | ||||||
Magnite Inc., 0.25%, 03/15/26 |
3,325 | 2,418,406 | ||||||
Match Group Financeco 2 Inc., 0.88%, 06/15/26(a) |
5,275 | 4,603,334 | ||||||
Match Group Financeco 3 Inc., 2.00%, 01/15/30(a) |
4,960 | 4,253,696 | ||||||
MercadoLibre Inc., 2.00%, 08/15/28 |
3,800 | 8,090,884 | ||||||
Okta Inc. |
||||||||
0.13%, 09/01/25 |
9,445 | 7,948,534 | ||||||
0.38%, 06/15/26 |
10,252 | 8,232,048 | ||||||
Opendoor Technologies Inc., 0.25%, 08/15/26(a) |
8,350 | 4,297,745 | ||||||
Palo Alto Networks Inc. |
||||||||
0.38%, 06/01/25 |
18,313 | 32,268,239 | ||||||
0.75%, 07/01/23 |
15,000 | 29,054,550 | ||||||
Perficient Inc., 0.13%, 11/15/26(a) |
3,275 | 2,463,062 | ||||||
Pinduoduo Inc., 0.00% 12/01/25(b) |
17,540 | 15,757,936 | ||||||
Q2 Holdings Inc. |
||||||||
0.13%, 11/15/25 |
3,050 | 2,474,618 | ||||||
0.75%, 06/01/26 |
2,830 | 2,291,253 | ||||||
RealReal Inc., 1.00%, 03/01/28 |
2,450 | 1,208,365 | ||||||
Sea Ltd. |
||||||||
0.25%, 09/15/26 |
26,075 | 18,062,674 | ||||||
2.38%, 12/01/25 |
10,300 | 9,732,676 | ||||||
Shopify Inc., 0.13%, 11/01/25 |
8,237 | 6,959,524 | ||||||
Snap Inc. |
||||||||
0.00%, 05/01/27(b) |
10,025 | 6,899,506 | ||||||
0.13%, 03/01/28(a) |
13,625 | 9,062,669 | ||||||
0.25%, 05/01/25 |
2,273 | 2,060,656 | ||||||
0.75%, 08/01/26 |
7,590 | 6,534,231 | ||||||
Spotify USA Inc., 0.00% 03/15/26(b) |
13,070 | 10,423,456 | ||||||
TechTarget Inc., 0.00% 12/15/26(a)(b) |
3,775 | 3,011,204 | ||||||
TripAdvisor Inc., 0.25%, 04/01/26 |
3,125 | 2,507,438 |
S C H E D U L E O F I N V E S T M E N T S |
83 |
Schedule of Investments (continued) October 31, 2022 |
iShares® Convertible Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Internet (continued) |
| |||||||
Twitter Inc. |
||||||||
0.00%, 03/15/26(b) |
$ | 12,750 | $ | 12,689,820 | ||||
0.25%, 06/15/24 |
10,455 | 11,723,923 | ||||||
Uber Technologies Inc., 0.00% 12/15/25(b) |
10,270 | 8,479,425 | ||||||
Upwork Inc., 0.25%, 08/15/26 |
5,275 | 3,936,047 | ||||||
Vnet Group Inc, 0.00% 02/01/26(b) |
5,200 | 4,323,852 | ||||||
Wayfair Inc. |
||||||||
0.63%, 10/01/25 |
13,260 | 8,685,167 | ||||||
1.00%, 08/15/26 |
7,920 | 4,902,955 | ||||||
3.25%, 09/15/27(a) |
5,350 | 4,645,458 | ||||||
Weibo Corp., 1.25%, 11/15/22 |
7,666 | 7,607,892 | ||||||
Wix.com Ltd. |
||||||||
0.00%, 07/01/23(b) |
3,056 | 2,992,099 | ||||||
0.00%, 08/15/25(b) |
4,997 | 4,158,853 | ||||||
Zendesk Inc., 0.63%, 06/15/25 |
10,248 | 10,121,232 | ||||||
Ziff Davis Inc., 1.75%, 11/01/26(a) |
4,931 | 4,793,573 | ||||||
Zillow Group Inc. |
||||||||
0.75%, 09/01/24 |
5,300 | 5,484,069 | ||||||
1.38%, 09/01/26 |
4,340 | 4,347,074 | ||||||
2.75%, 05/15/25 |
5,400 | 5,062,446 | ||||||
|
|
|||||||
396,683,037 | ||||||||
Iron & Steel — 0.6% | ||||||||
Allegheny Technologies Inc., 3.50%, 06/15/25 |
2,544 | 5,130,561 | ||||||
U.S. Steel Corp., 5.00%, 11/01/26 |
3,230 | 5,438,642 | ||||||
|
|
|||||||
10,569,203 | ||||||||
Leisure Time — 2.8% | ||||||||
Callaway Golf Co., 2.75%, 05/01/26 |
2,238 | 2,814,486 | ||||||
Carnival Corp., 5.75%, 10/01/24 |
3,000 | 3,486,480 | ||||||
Liberty TripAdvisor Holdings Inc., 0.50%, 06/30/51 (Call 03/27/25)(a) |
2,850 | 2,011,416 | ||||||
NCL Corp. Ltd. |
||||||||
1.13%, 02/15/27(a) |
10,025 | 7,627,521 | ||||||
2.50%, 02/15/27(a) |
4,425 | 3,423,357 | ||||||
5.38%, 08/01/25 |
4,130 | 4,938,778 | ||||||
Peloton Interactive Inc., 0.00% 02/15/26(b) |
8,960 | 6,439,731 | ||||||
Royal Caribbean Cruises Ltd. |
||||||||
4.25%, 06/15/23 |
5,017 | 5,093,309 | ||||||
6.00%, 08/15/25(a) |
10,525 | 13,748,281 | ||||||
Virgin Galactic Holdings Inc, 2.50%, 02/01/27(a) |
4,025 | 2,129,185 | ||||||
|
|
|||||||
51,712,544 | ||||||||
Lodging — 0.5% | ||||||||
H World Group Ltd., 0.38%, 11/01/22 |
4,140 | 4,108,536 | ||||||
Huazhu Group Ltd., 3.00%, 05/01/26, (Put 05/01/24) |
4,754 | 4,504,415 | ||||||
|
|
|||||||
8,612,951 | ||||||||
Machinery — 0.9% | ||||||||
Chart Industries Inc., 1.00%, 11/15/24(a) |
2,245 | 8,513,758 | ||||||
Middleby Corp. (The), 1.00%, 09/01/25 |
6,707 | 8,120,970 | ||||||
|
|
|||||||
16,634,728 | ||||||||
Manufacturing — 0.2% | ||||||||
John Bean Technologies Corp., 0.25%, 05/15/26 |
3,500 | 2,982,630 | ||||||
|
|
|||||||
Media — 5.2% | ||||||||
Cable One Inc. |
||||||||
0.00%, 03/15/26(b) |
5,250 | 4,060,875 | ||||||
1.13%, 03/15/28 |
2,741 | 2,007,837 | ||||||
DISH Network Corp. |
||||||||
0.00%, 12/15/25(b) |
18,060 | 12,232,038 | ||||||
2.38%, 03/15/24 |
9,035 | 8,236,848 | ||||||
3.38%, 08/15/26 |
27,605 | 19,110,389 |
Security |
Par (000) |
Value | ||||||
Media (continued) |
| |||||||
Liberty Broadband Corp. |
||||||||
1.25%, 09/30/50 (Call 10/05/23)(a) |
$ | 7,175 | $ | 6,822,062 | ||||
2.75%, 09/30/50 (Call 10/05/23)(a) |
5,073 | 4,901,330 | ||||||
Liberty Interactive LLC, 1.75%, 09/30/46 (Call 10/05/23)(a) |
3,150 | 3,397,496 | ||||||
Liberty Latin America Ltd., 2.00%, 07/15/24 |
3,471 | 3,082,907 | ||||||
Liberty Media Corp. |
||||||||
0.50%, 12/01/50 (Call 09/01/24)(a) |
8,000 | 8,560,400 | ||||||
1.38%, 10/15/23 |
8,720 | 11,264,845 | ||||||
2.13%, 03/31/48 (Call 04/07/23)(a) |
3,353 | 3,182,466 | ||||||
2.75%, 12/01/49 (Call 12/01/24)(a) |
5,262 | 4,865,877 | ||||||
Liberty Media Corp.-Liberty Formula One, 2.25%, 08/15/27(a) |
4,200 | 3,882,480 | ||||||
|
|
|||||||
95,607,850 | ||||||||
Metal Fabricate & Hardware — 0.2% | ||||||||
Xometry Inc., 1.00%, 02/01/27(a) |
2,500 | 3,060,325 | ||||||
|
|
|||||||
Mining — 0.4% | ||||||||
Lithium Americas Corp., 1.75%, 01/15/27(a) |
2,525 | 2,180,009 | ||||||
MP Materials Corp., 0.25%, 04/01/26(a) |
6,300 | 6,029,982 | ||||||
|
|
|||||||
8,209,991 | ||||||||
Oil & Gas — 2.7% | ||||||||
CNX Resources Corp., 2.25%, 05/01/26 |
3,110 | 4,555,746 | ||||||
EQT Corp., 1.75%, 05/01/26 |
3,615 | 10,298,484 | ||||||
Nabors Industries Inc., 0.75%, 01/15/24 |
2,650 | 2,473,855 | ||||||
Northern Oil & Gas Inc., 3.63%, 04/15/29 |
4,500 | 5,051,430 | ||||||
Pioneer Natural Resources Co., 0.25%, 05/15/25 |
9,749 | 25,054,930 | ||||||
Transocean Inc., 4.00%, 12/15/25 |
2,725 | 2,892,669 | ||||||
|
|
|||||||
50,327,114 | ||||||||
Pharmaceuticals — 4.0% | ||||||||
Aerie Pharmaceuticals Inc., 1.50%, 10/01/24 |
2,725 | 2,677,749 | ||||||
Aphria Inc., 5.25%, 06/01/24(a) |
2,300 | 2,190,474 | ||||||
Ascendis Pharma A/S, 2.25%, 04/01/28(a) |
5,000 | 4,890,450 | ||||||
Clovis Oncology Inc., 1.25%, 05/01/25 |
2,525 | 1,529,948 | ||||||
Dexcom Inc., 0.25%, 11/15/25 |
10,520 | 11,578,838 | ||||||
DexCom Inc., 0.75%, 12/01/23 |
7,254 | 21,384,212 | ||||||
Herbalife Nutrition Ltd., 2.63%, 03/15/24 |
4,785 | 4,405,884 | ||||||
Jazz Investments I Ltd. |
||||||||
1.50%, 08/15/24 |
4,972 | 4,770,137 | ||||||
2.00%, 06/15/26 |
9,075 | 10,187,504 | ||||||
Pacira BioSciences Inc., 0.75%, 08/01/25 |
3,670 | 3,571,717 | ||||||
Revance Therapeutics Inc., 1.75%, 02/15/27 |
2,600 | 2,565,446 | ||||||
Supernus Pharmaceuticals Inc., 0.63%, 04/01/23 |
3,505 | 3,429,432 | ||||||
|
|
|||||||
73,181,791 | ||||||||
Real Estate — 0.5% | ||||||||
Radius Global Infrastructure Inc., 2.50%, 09/15/26(a) |
2,325 | 1,820,824 | ||||||
Realogy Group LLC/Realogy Co.-Issuer Corp., 0.25%, 06/15/26 |
3,825 | 2,575,984 | ||||||
Redfin Corp. |
||||||||
0.00%, 10/15/25(b) |
6,108 | 3,142,322 | ||||||
0.50%, 04/01/27 |
5,125 | 2,191,757 | ||||||
|
|
|||||||
9,730,887 | ||||||||
Real Estate Investment Trusts — 1.2% | ||||||||
Arbor Realty Trust Inc., 7.50%, 08/01/25(a) |
2,600 | 2,500,550 | ||||||
Blackstone Mortgage Trust Inc., 5.50%, 03/15/27 |
2,775 | 2,426,432 | ||||||
Pebblebrook Hotel Trust, 1.75%, 12/15/26 |
6,745 | 5,955,161 | ||||||
PennyMac Corp., 5.50%, 03/15/26 |
2,860 | 2,321,405 | ||||||
Starwood Property Trust Inc., 4.38%, 04/01/23 (Call 01/01/23) |
2,175 | 2,154,207 | ||||||
Summit Hotel Properties Inc., 1.50%, 02/15/26 |
2,770 | 2,529,896 |
84 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Convertible Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts (continued) |
| |||||||
Two Harbors Investment Corp., 6.25%, 01/15/26 |
$ | 2,500 | $ | 2,053,650 | ||||
Uniti Fiber Holdings Inc., 4.00%, 06/15/24(a) |
2,904 | 2,734,087 | ||||||
|
|
|||||||
22,675,388 | ||||||||
Retail — 1.2% | ||||||||
Burlington Stores Inc., 2.25%, 04/15/25 |
4,602 | 4,678,715 | ||||||
Cheesecake Factory Inc. (The), 0.38%, 06/15/26 |
2,925 | 2,402,332 | ||||||
Cracker Barrel Old Country Store Inc., 0.63%, 06/15/26 |
2,600 | 2,342,132 | ||||||
Guess? Inc., 2.00%, 04/15/24 |
2,800 | 2,737,672 | ||||||
National Vision Holdings Inc., 2.50%, 05/15/25 |
3,597 | 4,813,217 | ||||||
Patrick Industries Inc., 1.75%, 12/01/28(a) |
2,200 | 1,606,132 | ||||||
Shake Shack Inc., 0.00% 03/01/28(b) |
1,975 | 1,344,837 | ||||||
Vroom Inc., 0.75%, 07/01/26 |
4,900 | 1,381,408 | ||||||
|
|
|||||||
21,306,445 | ||||||||
Semiconductors — 2.6% | ||||||||
Impinj Inc., 1.13%, 05/15/27(a) |
3,050 | 3,769,586 | ||||||
MACOM Technology Solutions Holdings Inc., 0.25%, 03/15/26 |
4,125 | 3,935,704 | ||||||
Microchip Technology Inc., 0.13%, 11/15/24 |
5,800 | 5,858,290 | ||||||
ON Semiconductor Corp., 0.00% 05/01/27(b) |
7,200 | 9,511,056 | ||||||
Semtech Corp., 1.63%, 11/01/27 |
2,000 | 1,946,600 | ||||||
Silicon Laboratories Inc., 0.63%, 06/15/25 |
4,916 | 5,570,270 | ||||||
SMART Global Holdings Inc., 2.25%, 02/15/26 |
2,075 | 1,973,761 | ||||||
Wolfspeed Inc. |
||||||||
0.25%, 02/15/28(a) |
7,025 | 6,457,029 | ||||||
1.75%, 05/01/26 |
5,001 | 8,870,724 | ||||||
|
|
|||||||
47,893,020 | ||||||||
Software — 17.5% | ||||||||
1Life Healthcare Inc., 3.00%, 06/15/25 |
2,600 | 2,521,246 | ||||||
8x8 Inc., 0.50%, 02/01/24 |
4,371 | 3,843,114 | ||||||
Akamai Technologies Inc. |
||||||||
0.13%, 05/01/25 |
10,287 | 11,106,668 | ||||||
0.38%, 09/01/27 |
11,026 | 10,921,143 | ||||||
Alteryx Inc. |
||||||||
0.50%, 08/01/24 |
3,350 | 3,030,075 | ||||||
1.00%, 08/01/26 |
3,492 | 2,795,590 | ||||||
Avalara Inc., 0.25%, 08/01/26 |
8,725 | 8,668,549 | ||||||
Bandwidth Inc. |
||||||||
0.25%, 03/01/26 |
3,480 | 2,229,566 | ||||||
0.50%, 04/01/28 |
2,083 | 1,222,263 | ||||||
Bentley Systems Inc. |
||||||||
0.13%, 01/15/26 |
6,250 | 5,478,625 | ||||||
0.38%, 07/01/27 |
4,975 | 3,881,346 | ||||||
BigCommerce Holdings Inc., 0.25%, 10/01/26 |
3,000 | 2,206,920 | ||||||
Bilibili Inc. |
||||||||
0.50%, 12/01/26(a) |
12,250 | 7,290,342 | ||||||
1.25%, 06/15/27 |
7,159 | 6,406,231 | ||||||
1.38%, 04/01/26 |
3,715 | 2,822,508 | ||||||
Bill.com Holdings Inc. |
||||||||
0.00%, 12/01/25(b) |
10,395 | 11,557,473 | ||||||
0.00%, 04/01/27(b) |
5,000 | 3,953,000 | ||||||
Blackline Inc. |
||||||||
0.00%, 03/15/26(b) |
9,990 | 8,099,892 | ||||||
0.13%, 08/01/24 |
2,188 | 2,218,348 | ||||||
Box Inc., 0.00% 01/15/26(b) |
2,975 | 3,690,160 | ||||||
Ceridian HCM Holding Inc., 0.25%, 03/15/26 |
5,050 | 4,296,894 | ||||||
Cloudflare Inc., 0.00% 08/15/26(b) |
11,375 | 9,196,460 | ||||||
Confluent Inc., 0.00% 01/15/27(a)(b) |
9,575 | 7,136,152 | ||||||
Coupa Software Inc. |
||||||||
0.13%, 06/15/25 |
7,000 | 6,015,800 |
Security |
Par (000) |
Value | ||||||
Software (continued) |
| |||||||
0.38%, 06/15/26 |
$ | 12,232 | $ | 9,755,754 | ||||
Datadog Inc., 0.13%, 06/15/25 |
6,729 | 7,676,510 | ||||||
DigitalOcean
Holdings Inc., |
13,250 | 9,707,082 | ||||||
DocuSign Inc, 0.00% 01/15/24(b) |
6,335 | 5,956,800 | ||||||
Dropbox Inc. |
||||||||
0.00%, 03/01/26(b) |
6,015 | 5,354,733 | ||||||
0.00%, 03/01/28(b) |
6,320 | 5,475,458 | ||||||
Envestnet Inc. |
||||||||
0.75%, 08/15/25 |
4,560 | 3,915,854 | ||||||
1.75%, 06/01/23 |
3,105 | 3,083,979 | ||||||
Everbridge Inc. |
||||||||
0.00%, 03/15/26(b) |
3,275 | 2,802,057 | ||||||
0.13%, 12/15/24 |
3,845 | 3,397,750 | ||||||
Fastly Inc., 0.00% 03/15/26(b) |
6,225 | 4,423,423 | ||||||
Five9 Inc., 0.50%, 06/01/25 |
6,490 | 5,760,394 | ||||||
Guidewire Software Inc., 1.25%, 03/15/25 |
3,649 | 3,300,046 | ||||||
HubSpot Inc., 0.38%, 06/01/25 |
4,289 | 5,371,501 | ||||||
Jamf Holding Corp., 0.13%, 09/01/26 |
3,250 | 2,682,030 | ||||||
LivePerson Inc., 0.00% 12/15/26(b) |
4,585 | 3,201,751 | ||||||
MicroStrategy Inc. |
||||||||
0.00%, 02/15/27(b) |
9,325 | 4,301,343 | ||||||
0.75%, 12/15/25 |
5,750 | 4,755,883 | ||||||
MongoDB Inc., 0.25%, 01/15/26 |
10,489 | 11,857,500 | ||||||
New Relic Inc., 0.50%, 05/01/23 |
4,450 | 4,360,244 | ||||||
Nutanix Inc., 0.25%, 10/01/27 |
5,000 | 4,347,400 | ||||||
PagerDuty Inc., 1.25%, 07/01/25 |
2,700 | 2,649,456 | ||||||
Pegasystems Inc., 0.75%, 03/01/25 |
5,502 | 4,593,070 | ||||||
Porch Group Inc., 0.75%, 09/15/26(a) |
4,000 | 2,060,040 | ||||||
Progress Software Corp., 1.00%, 04/15/26 |
3,425 | 3,532,579 | ||||||
RingCentral Inc. |
||||||||
0.00%, 03/01/25(b) |
8,853 | 7,363,394 | ||||||
0.00%, 03/15/26(b) |
5,646 | 4,321,844 | ||||||
Splunk Inc. |
||||||||
0.50%, 09/15/23 |
6,968 | 6,723,981 | ||||||
1.13%, 09/15/25 |
7,656 | 7,130,492 | ||||||
1.13%, 06/15/27 |
11,166 | 9,512,539 | ||||||
Tabula Rasa HealthCare Inc., 1.75%, 02/15/26 |
2,828 | 2,253,068 | ||||||
Tyler Technologies Inc., 0.25%, 03/15/26 |
5,415 | 5,113,926 | ||||||
Unity Software Inc., 0.00% 11/15/26(a)(b) |
15,175 | 11,051,649 | ||||||
Verint Systems Inc., 0.25%, 04/15/26 |
2,660 | 2,266,533 | ||||||
Workiva Inc., 1.13%, 08/15/26 |
3,225 | 3,780,442 | ||||||
Zynga Inc., 0.25%, 06/01/24 |
6,491 | 7,106,412 | ||||||
|
|
|||||||
321,535,282 | ||||||||
Telecommunications — 0.7% | ||||||||
GDS Holdings Ltd., 2.00%, 06/01/25, (Put 06/01/23) |
2,745 | 2,505,142 | ||||||
Infinera Corp., 3.75%, 08/01/28(a) |
3,000 | 3,218,820 | ||||||
InterDigital Inc., 3.50%, 06/01/27(a) |
4,000 | 3,747,240 | ||||||
Nice Ltd., 0.00% 09/15/25(b) |
3,879 | 3,629,270 | ||||||
|
|
|||||||
13,100,472 | ||||||||
Transportation — 0.9% | ||||||||
Air Transport Services Group Inc., 1.13%, 10/15/24 |
2,449 | 2,647,639 | ||||||
Atlas Air Worldwide Holdings Inc., 1.88%, 06/01/24 |
2,625 | 4,398,581 | ||||||
CryoPort Inc., 0.75%, 12/01/26(a) |
3,450 | 2,598,333 | ||||||
ZTO Express Cayman Inc., 1.50%, 09/01/27, (Put 09/02/25)(a) |
8,700 | 7,068,924 | ||||||
|
|
|||||||
16,713,477 |
S C H E D U L E O F I N V E S T M E N T S |
85 |
Schedule of Investments (continued) October 31, 2022 |
iShares® Convertible Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par/ Shares (000) |
Value | ||||||
|
||||||||
Trucking & Leasing — 0.2% |
||||||||
Greenbrier Companies Inc., 2.88%, 04/15/28 |
$ | 3,250 | $ | 2,918,630 | ||||
|
|
|||||||
Total
Convertible Bonds — 99.2% |
1,822,005,889 | |||||||
|
|
|||||||
Common Stocks |
||||||||
Media — 0.0% |
||||||||
Gannett Co. Inc.(d) |
250 | 362,500 | ||||||
|
|
|||||||
Total
Common Stocks — 0.0% |
362,500 | |||||||
|
|
|||||||
Total
Long-Term Investments — 99.2% |
1,822,368,389 | |||||||
|
|
|||||||
Short-Term Securities |
||||||||
Money Market Funds — 0.6% |
||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.29%(e)(f)(g) |
310 | 310,355 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.97%(e)(f) |
10,280 | 10,280,000 | ||||||
|
|
|||||||
Total
Short-Term Securities — 0.6% |
10,590,355 | |||||||
|
|
|||||||
Total
Investments — 99.8% |
1,832,958,744 | |||||||
Other Assets Less Liabilities — 0.2% |
2,886,245 | |||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 1,835,844,989 | ||||||
|
|
(a) |
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. |
(b) |
Zero-coupon bond. |
(c) |
All or a portion of this security is on loan. |
(d) |
Non-income producing security. |
(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
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer |
Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | — | $ | 310,579 | (a) | $ | — | $ | (138 | ) | $ | (86 | ) | $ | 310,355 | 310 | $ | 1,045 | (b) | $ | — | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
4,430,000 | 5,850,000 | (a) | — | — | — | 10,280,000 | 10,280 | 75,542 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (138 | ) | $ | (86 | ) | $ | 10,590,355 | $ | 76,587 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
86 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Convertible Bond ETF |
Fair Value Hierarchy as of Period End (continued)
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 | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Convertible Bonds |
$ | — | $ | 1,822,005,889 | $ | — | $ | 1,822,005,889 | ||||||||
Common Stocks |
362,500 | — | — | 362,500 | ||||||||||||
Money Market Funds |
10,590,355 | — | — | 10,590,355 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 10,952,855 | $ | 1,822,005,889 | $ | — | $ | 1,832,958,744 | |||||||||
|
|
|
|
|
|
|
|
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 |
87 |
Schedule of Investments October 31, 2022 |
iShares® Floating Rate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Corporate Bonds & Notes |
| |||||||
Auto Manufacturers — 5.0% |
| |||||||
American Honda Finance Corp. |
||||||||
3.13%, 02/22/23,
(3 mo. LIBOR US + |
$ | 4,870 | $ | 4,861,526 | ||||
3.28%, 05/10/23,
(3 mo. LIBOR US + |
17,192 | 17,176,527 | ||||||
3.39%, 11/16/22,
(3 mo. LIBOR US + |
4,688 | 4,687,437 | ||||||
3.59%, 09/08/23,
(3 mo. LIBOR US + |
12,782 | 12,736,113 | ||||||
4.20%, 01/12/24,
(3 mo. LIBOR US + |
18,974 | 18,861,105 | ||||||
BMW U.S. Capital LLC |
||||||||
3.00%, 08/12/24, (SOFR + 0.380%)(a)(b)(c) |
25,802 | 25,521,274 | ||||||
3.56%, 04/01/24, (SOFR + 0.530%)(a)(b)(c) |
23,875 | 23,756,580 | ||||||
3.87%, 04/01/25, (SOFR + 0.840%)(a)(c) |
13,367 | 13,297,893 | ||||||
Daimler Trucks Finance North America LLC |
||||||||
3.29%, 06/14/23, (SOFR + 0.500%)(a)(b)(c) |
12,477 | 12,436,824 | ||||||
3.50%, 12/14/23, (SOFR + 0.500%)(a)(c) |
12,010 | 11,952,112 | ||||||
3.64%, 12/13/24, (SOFR + 0.750%)(a)(b)(c) |
13,925 | 13,748,013 | ||||||
4.04%, 04/05/24, (SOFR + 0.750%)(a)(c) |
25,445 | 25,278,590 | ||||||
General Motors Financial Co. Inc. |
||||||||
3.56%, 03/08/24, (SOFR + 0.760%)(a) |
20,140 | 19,780,299 | ||||||
3.65%, 10/15/24, (SOFR + 0.620%)(a) |
14,493 | 14,056,181 | ||||||
3.74%, 02/26/27, (SOFR + 0.620%)(a) |
11,285 | 10,502,611 | ||||||
3.85%, 11/17/23, (SOFR + 1.200%)(a) |
30,188 | 29,936,232 | ||||||
4.34%, 04/07/25, (SOFR + 1.040%)(a) |
10,515 | 10,253,807 | ||||||
4.74%, 01/05/23,
(3 mo. LIBOR US + |
13,967 | 13,963,368 | ||||||
Mercedes-Benz
Finance North America LLC, 3.65%, 05/04/23, (3 mo. LIBOR US
+ |
9,814 | 9,823,618 | ||||||
Nissan
Motor Acceptance Corp., 3.81%, 03/08/24, (3 mo. LIBOR US
+ |
14,900 | 14,653,703 | ||||||
Toyota Motor Credit Corp. |
||||||||
3.12%, 09/13/24, (SOFR + 0.290%)(a) |
19,160 | 18,915,902 | ||||||
3.16%, 06/18/24, (SOFR + 0.260%)(a) |
27,994 | 27,664,231 | ||||||
3.36%, 04/06/23, (SOFR + 0.320%)(a) |
17,229 | 17,211,771 | ||||||
3.36%, 01/13/25, (SOFR + 0.290%)(a) |
27,109 | 26,641,641 | ||||||
3.37%, 01/11/24, (SOFR + 0.330%)(a)(b) |
26,613 | 26,448,532 | ||||||
3.60%, 03/22/24, (SOFR + 0.320%)(a)(b) |
8,856 | 8,824,473 | ||||||
Volkswagen Group of America Finance LLC, 3.72%, 06/07/24(a)(c) |
27,565 | 27,469,625 | ||||||
|
|
|||||||
460,459,988 | ||||||||
Banks — 48.6% | ||||||||
American Express Co. |
||||||||
4.34%, 04/25/26
(Call 04/25/25), |
28,905 | 28,562,476 | ||||||
4.35%, 04/26/26 (Call 04/26/25), (SOFR + 1.180%)(a) |
17,270 | 17,023,039 | ||||||
ANZ
New Zealand Int’l
Ltd./London, |
14,029 | 13,862,476 | ||||||
ASB
Bank Ltd., 4.24%, 06/14/23, |
11,197 | 11,213,348 | ||||||
Australia &
New Zealand Banking Group Ltd., 3.47%, 11/21/22, (3 mo. LIBOR US
+ |
16,454 | 16,447,583 | ||||||
Banco Santander SA |
||||||||
3.88%, 05/24/24, (SOFR + 1.240%)(a) |
25,800 | 25,749,432 | ||||||
4.05%, 02/23/23,
(3 mo. LIBOR US + |
17,132 | 17,126,689 | ||||||
5.04%, 04/12/23,
(3 mo. LIBOR US + |
18,205 | 18,193,713 | ||||||
Bank of America Corp. |
||||||||
3.60%, 02/05/26
(Call 02/05/25), |
53,670 | 52,524,145 | ||||||
3.72%, 04/22/25
(Call 04/22/24), |
23,237 | 22,825,705 | ||||||
3.76%, 10/24/24
(Call 10/24/23), |
15,582 | 15,383,641 | ||||||
3.95%, 03/05/24
(Call 03/05/23), |
54,349 | 54,134,865 |
Security |
Par (000) |
Value | ||||||
Banks (continued) |
| |||||||
4.00%, 07/22/27 (Call 07/22/26), (SOFR + 0.970%)(a)(b) |
$ | 15,145 | $ | 14,560,100 | ||||
4.05%, 09/15/26, (3 mo. LIBOR US + 0.760%)(a)(b) |
11,050 | 10,684,908 | ||||||
4.14%, 04/25/25(a) |
16,690 | 16,522,266 | ||||||
4.37%, 04/02/26 (Call 04/02/25), (SOFR + 1.330%)(a) |
17,910 | 17,697,766 | ||||||
5.28%, 07/23/24
(Call 07/23/23), |
22,611 | 22,542,489 | ||||||
Series 2025, 3.28%, 02/04/25 (Call 02/04/24), (SOFR + 0.660%)(a)(b) |
25,755 | 25,309,696 | ||||||
Bank of Montreal |
||||||||
3.14%, 09/15/23, (SOFR + 0.265%)(a) |
19,404 | 19,301,353 | ||||||
3.15%, 12/08/23, (SOFR + 0.350%)(a) |
23,130 | 22,984,050 | ||||||
3.30%, 04/14/23, (SOFR + 0.270%)(a) |
11,454 | 11,427,656 | ||||||
3.36%, 07/09/24, (SOFR + 0.320%)(a) |
20,385 | 20,034,174 | ||||||
3.49%, 09/15/26, (SOFR + 0.620%)(a)(b) |
15,476 | 14,817,187 | ||||||
3.50%, 03/10/23, (SOFR + 0.680%)(a) |
48,302 | 48,282,196 | ||||||
3.50%, 01/10/25, (SOFR + 0.465%)(a) |
17,231 | 16,867,943 | ||||||
3.51%, 03/08/24, (SOFR + 0.710%)(a) |
18,799 | 18,666,279 | ||||||
3.82%, 06/07/25(a)(b) |
12,320 | 12,198,155 | ||||||
Bank of New York Mellon Corp., 3.64%, 04/25/25 (Call 03/25/25)(a) |
18,220 | 18,002,089 | ||||||
Bank of New York Mellon Corp. (The) |
||||||||
3.29%, 04/26/24
(Call 03/26/24), |
14,494 | 14,347,756 | ||||||
Series J,
3.22%, 10/25/24 (Call 09/25/24), |
11,161 | 10,930,191 | ||||||
Bank
of New Zealand, 3.84%, 01/27/27, |
13,350 | 13,087,673 | ||||||
Bank of Nova Scotia (The) |
||||||||
3.13%, 09/15/23, (SOFR + 0.260%)(a)(b) |
21,503 | 21,386,239 | ||||||
3.29%, 03/02/26, (SOFR + 0.545%)(a) |
9,534 | 9,200,119 | ||||||
3.42%, 09/15/23, (SOFR + 0.550%)(a) |
53,438 | 53,198,063 | ||||||
3.44%, 07/31/24, (SOFR + 0.380%)(a)(b) |
24,236 | 23,905,906 | ||||||
3.48%, 04/15/24, (SOFR + 0.445%)(a)(b) |
25,077 | 24,806,168 | ||||||
3.48%, 09/15/26, (SOFR + 0.610%)(a)(b) |
10,780 | 10,338,882 | ||||||
3.50%, 01/10/25, (SOFR + 0.460%)(a)(b) |
10,295 | 10,086,012 | ||||||
3.78%, 03/11/24, (SOFR + 0.960%)(a) |
9,662 | 9,631,468 | ||||||
3.94%, 04/11/25(a) |
12,955 | 12,771,687 | ||||||
Banque Federative du Credit Mutuel SA |
||||||||
3.00%, 02/04/25, (SOFR + 0.410%)(a)(c) |
25,086 | 24,422,224 | ||||||
5.20%, 07/20/23, (3 mo. LIBOR US + 0.960%)(a)(c) |
14,305 | 14,350,204 | ||||||
Barclays
PLC, 4.30%, 05/16/24 (Call 05/16/23), |
53,802 | 53,165,522 | ||||||
BPCE SA |
||||||||
3.60%, 01/14/25, (SOFR + 0.570%)(a)(c) |
13,340 | 13,069,598 | ||||||
4.48%, 09/12/23,
(3 mo. LIBOR US + |
18,506 | 18,525,431 | ||||||
Canadian Imperial Bank of Commerce |
||||||||
3.26%, 12/14/23, (SOFR + 0.400%)(a)(b) |
21,691 | 21,552,611 | ||||||
3.32%, 06/22/23, (SOFR + 0.340%)(a) |
28,375 | 28,299,522 | ||||||
3.45%, 10/18/24, (SOFR + 0.420%)(a) |
26,465 | 25,957,137 | ||||||
3.77%, 03/17/23, (SOFR + 0.800%)(a)(b) |
43,870 | 43,854,207 | ||||||
3.91%, 09/13/23, (3 mo. LIBOR US + 0.660%)(a)(b) |
17,776 | 17,758,224 | ||||||
3.98%, 04/07/25(a)(b) |
20,035 | 19,805,800 | ||||||
Citigroup Inc. |
||||||||
3.71%, 06/09/27
(Call 06/09/26), |
16,255 | 15,420,468 | ||||||
3.72%, 01/25/26
(Call 01/25/25), |
19,896 | 19,284,795 | ||||||
3.73%, 05/01/25
(Call 05/01/24), |
21,701 | 21,224,229 | ||||||
3.78%, 05/24/25
(Call 05/24/24), |
20,140 | 20,118,652 | ||||||
4.04%, 05/17/24
(Call 05/17/23), |
54,510 | 54,495,827 | ||||||
4.11%, 06/01/24
(Call 06/01/23), |
36,244 | 36,137,805 |
88 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Floating Rate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
4.50%, 03/17/26
(Call 03/17/25), |
$ | 16,140 | $ | 16,040,255 | ||||
4.99%, 07/01/26 (Call 07/01/25), (3 mo. LIBOR US + 1.250%)(a)(b) |
23,454 | 23,360,184 | ||||||
Commonwealth Bank of Australia |
||||||||
3.39%, 06/15/26, (SOFR + 0.520%)(a)(c) |
17,476 | 17,087,509 | ||||||
3.44%, 07/07/25, (SOFR + 0.400%)(a)(b)(c) |
56,111 | 55,140,841 | ||||||
3.60%, 03/14/25, (SOFR + 0.400%)(a)(b)(c) |
26,720 | 26,550,862 | ||||||
3.83%, 03/14/27, (SOFR + 0.740%)(a)(b)(c) |
12,935 | 12,825,829 | ||||||
3.98%, 06/04/24, (3 mo. LIBOR US + 0.820%)(a)(b)(c) |
7,800 | 7,776,288 | ||||||
4.18%, 03/16/23, (3 mo. LIBOR US + 0.700%)(a)(b)(c) |
4,754 | 4,750,387 | ||||||
Cooperatieve Rabobank UA/NY |
||||||||
3.34%, 01/12/24, (SOFR + 0.300%)(a)(b) |
31,645 | 31,406,713 | ||||||
3.42%, 01/10/25, (SOFR + 0.300%)(a) |
23,515 | 23,165,802 | ||||||
4.39%, 01/10/23, (3 mo. LIBOR US + 0.480%)(a) |
8,840 | 8,832,840 | ||||||
Credit Agricole SA/London, 5.34%, 04/24/23, (3 mo. LIBOR US + 1.020%)(a)(c) |
21,259 | 21,263,464 | ||||||
Credit Suisse AG/New York NY |
||||||||
2.97%, 02/02/24, (SOFR + 0.390%)(a) |
26,175 | 25,053,401 | ||||||
2.98%, 08/09/23, (SOFR + 0.380%)(a) |
32,990 | 32,096,961 | ||||||
3.92%, 02/21/25, (SOFR + 0.380%)(a) |
4,750 | 4,462,815 | ||||||
Credit Suisse Group AG |
||||||||
4.47%, 12/14/23 (Call 12/14/22), (3 mo. LIBOR US + 1.200%)(a)(b)(c) |
24,435 | 23,376,476 | ||||||
4.48%, 06/12/24 (Call 06/12/23), (3 mo. LIBOR US + 1.240%)(a)(c) |
34,530 | 32,546,942 | ||||||
Danske Bank A/S, 4.30%, 09/12/23, (3 mo. LIBOR US + 1.060%)(a)(b)(c) |
15,244 | 15,228,604 | ||||||
DBS Group Holdings Ltd., 2.93%, 11/22/24, (SOFR + 0.300%)(a)(c) |
5,900 | 5,848,375 | ||||||
Deutsche Bank AG/New York NY |
||||||||
4.11%, 11/16/22, (3 mo. LIBOR US + 1.190%)(a) |
17,201 | 17,195,840 | ||||||
4.27%, 02/27/23, (3 mo. LIBOR US + 1.230%)(a)(b) |
14,275 | 14,263,295 | ||||||
Series E,
3.10%, 11/08/23, |
26,890 | 26,529,674 | ||||||
DNB Bank ASA |
||||||||
3.72%, 12/02/22, (3 mo. LIBOR US + 0.620%)(a)(c) |
20,620 | 20,608,659 | ||||||
3.86%, 03/28/25 (Call 03/28/24), (3 mo. LIBOR US + 0.390%)(a)(c) |
15,214 | 15,069,011 | ||||||
Federation
des Caisses Desjardins du Quebec, 2.71%, 05/21/24, |
12,401 | 12,237,307 | ||||||
Goldman Sachs Group Inc. (The) |
||||||||
3.19%, 11/17/23
(Call 11/17/22), |
20,022 | 19,913,881 | ||||||
3.32%, 09/10/24
(Call 09/10/23), |
14,269 | 13,981,908 | ||||||
3.37%, 12/06/23
(Call 12/06/22), |
23,140 | 22,967,838 | ||||||
3.38%, 03/08/24
(Call 03/08/23), |
21,901 | 21,614,097 | ||||||
3.47%, 09/10/27 (Call 09/10/26)(a) |
10,800 | 10,163,124 | ||||||
3.52%, 10/21/24
(Call 10/21/23), |
21,686 | 21,210,426 | ||||||
3.60%, 12/09/26
(Call 12/09/25), |
10,430 | 9,991,106 | ||||||
3.62%, 03/09/27
(Call 03/09/26), |
14,395 | 13,646,460 | ||||||
3.71%, 02/23/23, (3 mo. LIBOR US + 0.750%)(a)(b) |
93,118 | 93,066,785 | ||||||
3.72%, 01/24/25
(Call 01/24/24), |
20,220 | 19,819,846 | ||||||
3.98%, 10/21/27
(Call 10/21/26), |
9,000 | 8,538,930 | ||||||
4.26%, 03/15/24, (SOFR + 1.390%)(a)(b) |
14,300 | 14,264,107 | ||||||
4.64%, 11/29/23, (3 mo. LIBOR US + 1.600%)(a)(b) |
65,156 | 65,352,120 | ||||||
Series .,
4.08%, 05/15/26 (Call 05/15/25), |
53,685 | 52,790,608 | ||||||
HSBC Holdings PLC |
||||||||
3.23%, 11/22/24
(Call 11/22/23), |
20,047 | 19,525,978 | ||||||
3.96%, 05/18/24
(Call 05/18/23), |
74,830 | 73,733,740 | ||||||
4.17%, 03/10/26
(Call 03/10/25), |
17,875 | 17,448,681 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
4.47%, 03/11/25
(Call 03/11/24), |
$ | 19,383 | $ | 18,985,842 | ||||
4.62%, 09/12/26
(Call 09/12/25), |
26,903 | 26,064,164 | ||||||
Huntington National Bank (The), 3.82%, 05/16/25 (Call 05/16/24), (SOFR + 1.190%)(a)(b) |
17,150 | 16,974,898 | ||||||
ING Groep NV |
||||||||
4.04%, 04/01/27 (Call 04/01/26), (SOFR + 1.010%)(a) |
16,200 | 15,427,098 | ||||||
4.67%, 03/28/26 (Call 03/28/25), (SOFR + 1.010%)(a)(b) |
18,079 | 17,768,584 | ||||||
4.74%, 10/02/23, (3 mo. LIBOR US + 1.000%)(a)(b) |
21,016 | 20,979,642 | ||||||
JPMorgan Chase & Co. |
||||||||
3.27%, 06/01/25 (Call 06/01/24), (SOFR + 0.535%)(a) |
19,149 | 18,702,828 | ||||||
3.41%, 12/10/25 (Call 12/10/24), (SOFR + 0.600%)(a) |
12,300 | 11,960,520 | ||||||
3.47%, 03/16/24 (Call 03/16/23), (SOFR + 0.580%)(a)(b) |
43,392 | 43,129,478 | ||||||
3.58%, 06/23/25 (Call 06/23/24), (SOFR + 0.580%)(a)(b) |
16,529 | 16,173,957 | ||||||
3.60%, 02/24/26 (Call 02/24/25), (SOFR + 0.920%)(a) |
27,051 | 26,354,166 | ||||||
3.83%, 06/14/25 (Call 06/14/24)(a)(b) |
25,530 | 25,170,027 | ||||||
3.91%, 04/22/27 (Call 04/22/26), (SOFR + 0.885%)(a)(b) |
17,865 | 17,224,718 | ||||||
4.76%, 01/10/25
(Call 01/10/24), |
18,708 | 18,581,721 | ||||||
5.05%, 04/23/24
(Call 04/23/23), |
26,747 | 26,630,383 | ||||||
5.21%, 07/23/24
(Call 07/23/23), |
35,907 | 35,828,723 | ||||||
KeyBank NA/Cleveland OH, 3.18%, 06/14/24 (Call 06/14/23), (SOFR + 0.320%)(a) |
500 | 494,055 | ||||||
Kreditanstalt
fuer Wiederaufbau, 3.59%, 02/12/24, |
54,450 | 55,057,662 | ||||||
Macquarie Bank Ltd. |
||||||||
3.34%, 04/06/23, |
1,965 | 1,955,627 | ||||||
4.28%, 03/21/25, |
19,465 | 19,359,889 | ||||||
Macquarie Group Ltd. |
||||||||
3.74%, 10/14/25 (Call 10/14/24), (SOFR + 0.710%)(a)(c) |
21,802 | 21,188,056 | ||||||
3.92%, 09/23/27 (Call 09/23/26), (SOFR + 0.920%)(a)(c) |
15,000 | 14,356,650 | ||||||
4.06%, 11/28/23 (Call 11/28/22), (3 mo. LIBOR US + 1.020%)(a)(c) |
24,686 | 24,678,594 | ||||||
4.98%, 03/27/24 (Call 03/27/23), (3 mo. LIBOR US + 1.350%)(a)(c) |
21,447 | 21,433,274 | ||||||
Mitsubishi UFJ Financial Group Inc. |
||||||||
3.84%, 03/02/23, (3 mo. LIBOR US + 0.740%)(a)(b) |
26,565 | 26,557,030 | ||||||
4.17%, 09/12/25 (Call 09/12/24)(a) |
19,680 | 19,605,413 | ||||||
4.68%, 07/18/25 (Call 07/18/24)(a) |
15,000 | 15,022,650 | ||||||
5.19%, 07/26/23, (3 mo. LIBOR US + 0.860%)(a)(b) |
66,420 | 66,425,978 | ||||||
Mizuho Financial Group Inc. |
||||||||
3.59%, 05/22/26 (Call 05/22/25), (SOFR + 0.960%)(a)(b) |
27,035 | 26,282,616 | ||||||
3.63%, 05/25/24 (Call 05/25/23), (3 mo. LIBOR US + 0.630%)(a) |
40,420 | 40,049,753 | ||||||
3.78%, 09/08/24 (Call 09/08/23), (3 mo. LIBOR US + 0.610%)(a) |
12,690 | 12,514,624 | ||||||
3.95%, 03/05/23, (3 mo. LIBOR US + 0.790%)(a) |
30,257 | 30,245,805 | ||||||
4.24%, 09/11/24 (Call 09/11/23), (3 mo. LIBOR US + 1.000%)(a)(b) |
23,265 | 23,106,565 | ||||||
4.90%, 07/10/24 (Call 07/10/23), (3 mo. LIBOR US + 0.990%)(a) |
16,630 | 16,532,715 | ||||||
Morgan Stanley |
||||||||
3.63%, 02/18/26 (Call 02/18/25), (SOFR + 0.950%)(a)(b) |
27,240 | 26,596,591 | ||||||
3.66%, 01/24/25 (Call 01/24/24), (3 mo. LIBOR US + 0.140%)(a)(b) |
44,631 | 43,766,051 | ||||||
4.08%, 05/08/24 (Call 05/08/23), (3 mo. LIBOR US + 1.220%)(a)(b) |
69,876 | 69,927,708 |
S C H E D U L E O F I N V E S T M E N T S |
89 |
Schedule of Investments (continued) October 31, 2022 |
iShares® Floating Rate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
4.20%, 04/17/25
(Call 04/17/24), |
$ | 17,685 | $ | 17,531,317 | ||||
MUFG
Union Bank NA, 3.55%, 12/09/22, |
4,308 | 4,305,803 | ||||||
National Australia Bank Ltd. |
||||||||
3.42%, 01/12/25, (3 mo. LIBOR US + 0.600%)(a)(b)(c) |
34,210 | 33,709,850 | ||||||
3.66%, 12/13/22, (3 mo. LIBOR US + 0.410%)(a)(b)(c) |
30,908 | 30,875,856 | ||||||
3.69%, 01/12/27, (SOFR + 0.380%)(a)(b)(c) |
18,205 | 17,811,044 | ||||||
4.52%, 04/12/23, (3 mo. LIBOR US + 0.600%)(a)(b)(c) |
12,110 | 12,100,918 | ||||||
National Australia Bank Ltd/New York, 3.67%, 06/09/25(a)(c) |
22,940 | 22,828,512 | ||||||
National
Bank of Canada, 3.09%, 08/06/24, |
21,090 | 20,734,001 | ||||||
Natwest Group PLC, 5.19%, 06/25/24 (Call 06/25/23), (3 mo. LIBOR US + 1.550%)(a) |
33,528 | 33,293,304 | ||||||
NatWest Markets PLC |
||||||||
3.15%, 08/12/24, (SOFR + 0.530%)(a)(c) |
12,150 | 11,889,018 | ||||||
3.79%, 09/29/26, (SOFR + 0.760%)(a)(c) |
10,924 | 10,362,179 | ||||||
4.43%, 03/22/25, (SOFR + 0.760%)(a)(c) |
15,500 | 15,334,305 | ||||||
Nordea Bank Abp, 3.71%, 06/06/25(a)(c) |
700 | 695,233 | ||||||
Royal Bank of Canada |
||||||||
3.17%, 11/02/26, (SOFR + 0.590%)(a) |
12,245 | 11,759,486 | ||||||
3.33%, 01/19/24, (SOFR + 0.300%)(a) |
24,194 | 23,941,415 | ||||||
3.38%, 10/07/24, (SOFR + 0.340%)(a) |
17,822 | 17,514,927 | ||||||
3.42%, 07/29/24, (SOFR + 0.360%)(a) |
22,285 | 21,938,245 | ||||||
3.47%, 01/21/25, (SOFR + 0.590%)(a)(b) |
14,460 | 14,218,663 | ||||||
3.48%, 10/26/23, (SOFR + 0.450%)(a) |
36,108 | 35,889,186 | ||||||
3.55%, 01/20/26, (SOFR + 0.525%)(a) |
10,268 | 9,927,616 | ||||||
3.60%, 04/27/26, (SOFR + 0.570%)(a) |
11,768 | 11,356,238 | ||||||
3.74%, 01/21/27, (SOFR + 0.440%)(a) |
10,966 | 10,595,240 | ||||||
4.41%, 10/05/23, (3 mo. LIBOR US + 0.660%)(a)(b) |
12,600 | 12,574,422 | ||||||
4.44%, 01/17/23, (3 mo. LIBOR US + 0.360%)(a)(b) |
28,905 | 28,868,869 | ||||||
Shinhan Bank Co. Ltd., 6.02%, 04/24/25, (3 mo. LIBOR US + 1.700%)(a)(d) |
15,645 | 15,947,887 | ||||||
Skandinaviska Enskilda Banken AB |
||||||||
3.40%, 09/01/23, (3 mo. LIBOR US + 0.320%)(a)(c) |
17,679 | 17,574,517 | ||||||
3.77%, 06/09/25(a)(c) |
19,450 | 19,259,973 | ||||||
3.88%, 12/12/22, (3 mo. LIBOR US + 0.645%)(a)(c) |
7,313 | 7,307,735 | ||||||
Societe Generale SA, 4.08%, 01/21/26 (Call 01/21/25), (3 mo. LIBOR US + 0.320%)(a)(b)(c) |
29,467 | 27,887,274 | ||||||
Standard Chartered PLC |
||||||||
3.60%, 11/23/25
(Call 11/23/24), |
17,965 | 17,282,150 | ||||||
4.77%, 03/30/26
(Call 03/30/25), |
16,755 | 16,455,588 | ||||||
Sumitomo Mitsui Financial Group Inc. |
||||||||
3.92%, 01/14/27, (3 mo. LIBOR US + 0.080%)(a)(b) |
17,625 | 17,169,570 | ||||||
4.82%, 01/17/23, (3 mo. LIBOR US + 0.740%)(a)(b) |
15,631 | 15,622,872 | ||||||
4.88%, 10/16/23, (3 mo. LIBOR US + 0.800%)(a) |
24,985 | 24,951,770 | ||||||
5.09%, 07/19/23, (3 mo. LIBOR US + 0.860%)(a)(b) |
20,989 | 20,985,432 | ||||||
Sumitomo
Mitsui Trust Bank Ltd., 3.29%, 09/16/24, |
23,300 | 23,063,505 | ||||||
Svenska Handelsbanken AB, 3.72%, 06/10/25(a)(b)(c) |
19,250 | 19,088,877 | ||||||
Swedbank
AB, 3.94%, 04/04/25, |
13,525 | 13,438,034 | ||||||
Toronto-Dominion Bank |
||||||||
3.45%, 01/10/25, (SOFR + 0.590%)(a) |
14,850 | 14,528,646 | ||||||
3.71%, 03/08/24, (SOFR + 0.410%)(a)(b) |
14,645 | 14,599,161 | ||||||
Toronto-Dominion Bank (The) |
||||||||
2.96%, 06/02/23, (SOFR + 0.220%)(a) |
14,507 | 14,459,562 | ||||||
3.11%, 03/04/24, (SOFR + 0.355%)(a)(b) |
32,195 | 31,864,679 | ||||||
3.17%, 09/10/24, (SOFR + 0.350%)(a) |
32,385 | 31,883,032 | ||||||
3.28%, 01/06/23, (SOFR + 0.240%)(a) |
16,306 | 16,293,607 | ||||||
3.41%, 09/10/26, (SOFR + 0.590%)(a)(b) |
9,747 | 9,392,112 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.48%, 09/28/23, (SOFR + 0.450%)(a)(b) |
$ | 14,681 | $ | 14,620,221 | ||||
3.51%, 01/27/23, (SOFR + 0.480%)(a)(b) |
34,253 | 34,238,614 | ||||||
3.61%, 12/01/22, (3 mo. LIBOR US + 0.530%)(a)(b) |
8,820 | 8,815,590 | ||||||
3.77%, 06/06/25(a) |
14,615 | 14,451,312 | ||||||
4.87%, 07/19/23, (3 mo. LIBOR US + 0.640%)(a)(b) |
13,527 | 13,517,666 | ||||||
Truist Bank |
||||||||
3.24%, 01/17/24
(Call 01/17/23), |
40,275 | 39,825,128 | ||||||
3.54%, 03/09/23, (SOFR + 0.730%)(a)(b) |
4,107 | 4,085,397 | ||||||
Truist Financial Corp., 3.21%, 06/09/25 (Call 06/09/24), (SOFR + 0.400%)(a) |
40,075 | 39,061,503 | ||||||
U.S. Bank NA/Cincinnati OH, 3.59%, 12/09/22, (3 mo. LIBOR US + 0.400%)(a) |
8,952 | 8,949,404 | ||||||
UBS AG London, 3.51%, 01/13/25 (Call 12/13/24), (SOFR + 0.450%)(a)(c) |
9,880 | 9,736,938 | ||||||
UBS AG/London |
||||||||
2.96%, 02/09/24, (SOFR + 0.360%)(a)(c) |
40,130 | 39,802,539 | ||||||
3.05%, 08/09/24, (SOFR + 0.450%)(a)(c) |
30,780 | 30,494,977 | ||||||
3.06%, 06/01/23, (SOFR + 0.320%)(a)(b)(c) |
31,769 | 31,686,083 | ||||||
UBS Group AG, 4.20%, 05/12/26 (Call 05/12/25), (SOFR + 1.580%)(a)(c) |
24,750 | 24,381,967 | ||||||
United
Overseas Bank Ltd, |
705 | 703,752 | ||||||
Westpac Banking Corp. |
||||||||
2.95%, 11/18/24, (SOFR + 0.300%)(a)(b) |
26,265 | 25,959,275 | ||||||
3.26%, 06/03/26, (SOFR + 0.520%)(a)(b) |
14,545 | 14,194,756 | ||||||
3.63%, 05/15/23, (3 mo. LIBOR US + 0.720%)(a)(b) |
25,058 | 25,054,993 | ||||||
3.70%, 08/26/25, (SOFR + 1.000%)(a) |
21,150 | 21,119,544 | ||||||
3.78%, 02/26/24, (3 mo. LIBOR US + 0.770%)(a) |
18,124 | 18,111,132 | ||||||
4.33%, 01/13/23, (3 mo. LIBOR US + 0.390%)(a) |
19,668 | 19,648,332 | ||||||
4.48%, 01/11/23, (3 mo. LIBOR US + 0.570%)(a)(b) |
13,673 | 13,664,113 | ||||||
|
|
|||||||
4,457,174,729 | ||||||||
Chemicals — 0.1% | ||||||||
DuPont de Nemours Inc., 4.02%, 11/15/23, (3 mo. LIBOR US + 1.110%)(a) |
11,336 | 11,333,619 | ||||||
|
|
|||||||
Diversified Financial Services — 3.4% | ||||||||
AerCap
Ireland Capital DAC/AerCap Global Aviation Trust,
3.71%, 09/29/23, |
20,405 | 19,973,638 | ||||||
AIG
Global Funding, 3.25%, 12/15/23, |
8,200 | 8,173,842 | ||||||
Air Lease Corp., 3.64%, 12/15/22, (3 mo. LIBOR US + 0.350%)(a)(b) |
21,300 | 21,283,386 | ||||||
American Express Co. |
||||||||
2.51%, 11/03/23, (SOFR + 0.230%)(a) |
17,633 | 17,517,857 | ||||||
3.01%, 05/03/24(a)(b) |
27,200 | 27,056,384 | ||||||
3.24%, 11/04/26
(Call 10/04/26), |
17,553 | 17,037,644 | ||||||
3.55%, 08/03/23
(Call 07/03/23), |
17,465 | 17,442,121 | ||||||
3.68%, 03/04/25
(Call 02/01/25), |
9,110 | 9,066,272 | ||||||
3.69%, 02/27/23
(Call 01/27/23), |
15,299 | 15,276,510 | ||||||
BOC
Aviation Ltd., 4.77%, 09/26/23, |
20,515 | 20,480,330 | ||||||
Capital One Financial Corp. |
||||||||
3.50%, 12/06/24
(Call 12/06/23), |
30,662 | 29,838,419 | ||||||
3.99%, 05/09/25
(Call 05/09/24), |
15,000 | 14,683,200 | ||||||
5.13%, 01/30/23
(Call 12/30/22), |
11,274 | 11,267,687 | ||||||
Charles Schwab Corp., 3.92%, 03/03/27 (Call 02/03/27), (SOFR + 0.520%)(a) |
21,890 | 21,363,545 |
90 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Floating Rate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) |
||||||||
Charles Schwab Corp. (The) |
||||||||
3.15%, 05/13/26
(Call 04/13/26), |
$ | 23,482 | $ | 22,759,459 | ||||
3.40%, 03/18/24
(Call 02/18/24), |
42,879 | 42,572,415 | ||||||
|
|
|||||||
315,792,709 | ||||||||
Electric — 4.6% | ||||||||
American Electric Power Co. Inc., Series A, 4.92%, 11/01/23 (Call 12/01/22), (3 mo. LIBOR US + 0.480%)(a)(b) |
21,400 | 21,251,484 | ||||||
CenterPoint Energy Inc., 3.28%, 05/13/24 (Call 11/16/22), (SOFR + 0.650%)(a)(b) |
25,088 | 24,591,509 | ||||||
Dominion Energy Inc., Series D, 3.82%, 09/15/23 (Call 11/21/22), (3 mo. LIBOR US + 0.530%)(a)(b) |
35,888 | 35,759,880 | ||||||
Duke
Energy Corp., 3.07%, 06/10/23, |
17,651 | 17,527,090 | ||||||
Eversource
Energy, 2.88%, 08/15/23, |
11,777 | 11,687,848 | ||||||
Florida Power & Light Co. |
||||||||
2.87%, 05/10/23
(Call 11/14/22), |
34,076 | 33,970,024 | ||||||
3.42%, 01/12/24
(Call 11/14/22), |
36,118 | 35,704,449 | ||||||
National Rural Utilities Cooperative Finance Corp. |
||||||||
3.00%, 08/07/23, (SOFR + 0.330%)(a) |
7,730 | 7,685,166 | ||||||
Series D,
3.36%, 10/18/24, |
12,355 | 12,181,906 | ||||||
NextEra Energy Capital Holdings Inc. |
||||||||
2.69%, 11/03/23
(Call 12/01/22), |
45,629 | 45,113,849 | ||||||
3.25%, 02/22/23 (Call 12/01/22), (3 mo. LIBOR US + 0.270%)(a) |
60,811 | 60,675,391 | ||||||
3.28%, 03/01/23, (SOFR + 0.540%)(a) |
17,403 | 17,363,669 | ||||||
3.99%, 03/21/24
(Call 12/01/22), |
15,000 | 14,904,450 | ||||||
PPL Electric Utilities Corp., 3.35%, 06/24/24 (Call 11/14/22), (SOFR + 0.330%)(a) |
24,184 | 23,842,280 | ||||||
Southern California Edison Co. |
||||||||
3.67%, 04/03/23, (SOFR + 0.640%)(a)(b) |
2,292 | 2,287,714 | ||||||
3.86%, 04/01/24
(Call 04/01/23), |
18,163 | 18,006,798 | ||||||
Southern
Co. (The), Series 2021, 2.99%, 05/10/23
(Call 12/01/22), |
37,875 | 37,710,244 | ||||||
|
|
|||||||
420,263,751 | ||||||||
Entertainment — 0.2% | ||||||||
Magallanes
Inc., 4.65%, 03/15/24, |
18,530 | 18,455,324 | ||||||
|
|
|||||||
Food — 0.2% | ||||||||
General Mills Inc., 5.09%, 10/17/23, (3 mo. LIBOR US + 1.010%)(a)(b) |
13,754 | 13,788,523 | ||||||
|
|
|||||||
Gas — 0.7% | ||||||||
Atmos Energy Corp., 3.57%, 03/09/23 (Call 12/01/22), (3 mo. LIBOR US + 0.380%)(a)(b) |
3,820 | 3,808,502 | ||||||
CenterPoint Energy Resources Corp., 3.60%, 03/02/23 (Call 12/01/22), (3 mo. LIBOR US + 0.500%)(a) |
23,559 | 23,490,208 | ||||||
Southern California Gas Co., 3.62%, 09/14/23 (Call 12/01/22), (3 mo. LIBOR US + 0.350%)(a)(b) |
22,432 | 22,339,131 | ||||||
Spire
Missouri Inc., 3.24%, 12/02/24 (Call 12/01/22), |
11,615 | 11,458,778 | ||||||
|
|
|||||||
61,096,619 | ||||||||
Health Care - Products — 0.6% | ||||||||
Baxter International Inc. |
||||||||
3.00%, 12/01/23(a)(b) |
16,760 | 16,601,618 | ||||||
3.14%, 11/29/24(a) |
8,415 | 8,206,224 | ||||||
Thermo Fisher Scientific Inc. |
||||||||
3.42%, 10/18/23
(Call 12/01/22), |
18,470 | 18,345,512 | ||||||
3.56%, 10/18/24
(Call 12/01/22), |
14,547 | 14,394,402 | ||||||
|
|
|||||||
57,547,756 |
Security |
Par (000) |
Value | ||||||
Health Care - Services — 0.6% |
||||||||
Roche Holdings Inc. |
||||||||
2.99%, 03/05/24, (SOFR + 0.240%)(a)(c) |
$ | 11,919 | $ | 11,846,771 | ||||
3.15%, 09/11/23, (SOFR + 0.240%)(a)(b)(c) |
22,425 | 22,368,265 | ||||||
3.48%, 03/10/25, (SOFR + 0.330%)(a)(b)(c) |
22,630 | 22,484,036 | ||||||
|
|
|||||||
56,699,072 | ||||||||
Insurance — 5.8% | ||||||||
Athene Global Funding |
||||||||
3.22%, 08/19/24, (SOFR + 0.560%)(a)(c) |
15,870 | 15,416,912 | ||||||
3.38%, 05/24/24, (SOFR + 0.700%)(a)(c) |
62,695 | 61,362,731 | ||||||
3.76%, 01/07/25, (SOFR + 0.715%)(a)(c) |
14,210 | 13,783,274 | ||||||
Brighthouse Financial Global Funding |
||||||||
2.99%, 02/24/23, (SOFR + 0.310%)(a)(b)(c) |
5,542 | 5,508,803 | ||||||
3.80%, 04/12/24, (SOFR + 0.760%)(a)(c) |
16,130 | 15,927,246 | ||||||
Equitable Financial Life Global Funding, 3.43%, 04/06/23, (SOFR + 0.390%)(a)(b)(c) |
5,582 | 5,553,755 | ||||||
GA Global Funding Trust |
||||||||
3.33%, 09/13/24, (SOFR + 0.500%)(a)(b)(c) |
20,270 | 19,688,251 | ||||||
4.40%, 04/11/25, (SOFR + 0.500%)(a)(c) |
19,590 | 19,226,997 | ||||||
Jackson National Life Global Funding, 3.64%, 01/06/23, (SOFR + 0.600%)(a)(b)(c) |
21,765 | 21,753,900 | ||||||
MassMutual Global Funding II |
||||||||
2.96%, 06/02/23, (SOFR + 0.220%)(a)(b)(c) |
2,806 | 2,791,493 | ||||||
3.30%, 10/21/24, (SOFR + 0.270%)(a)(c) |
18,198 | 17,939,042 | ||||||
3.40%, 04/12/24, (SOFR + 0.360%)(a)(b)(c) |
21,662 | 21,481,339 | ||||||
3.84%, 03/21/25, (SOFR + 0.270%)(a)(b)(c) |
3,300 | 3,283,038 | ||||||
MET Tower Global Funding, 3.58%, 01/17/23, (SOFR + 0.550%)(a)(c) |
15,837 | 15,835,258 | ||||||
Metropolitan Life Global Funding I |
||||||||
3.32%, 09/27/24, (SOFR + 0.300%)(a)(b)(c) |
11,075 | 10,900,901 | ||||||
3.36%, 01/07/24, (SOFR + 0.320%)(a)(c) |
19,232 | 19,102,761 | ||||||
3.61%, 01/13/23, (SOFR + 0.570%)(a)(b)(c) |
33,777 | 33,785,782 | ||||||
3.88%, 03/21/25, (SOFR + 0.910%)(a)(c) |
13,084 | 13,057,570 | ||||||
New York Life Global Funding |
||||||||
3.18%, 06/06/24(a)(b)(c) |
21,645 | 21,505,606 | ||||||
3.22%, 06/30/23, (SOFR + 0.190%)(a)(c) |
4,469 | 4,452,420 | ||||||
3.28%, 02/02/23, (SOFR + 0.220%)(a)(b)(c) |
22,494 | 22,483,878 | ||||||
3.29%, 06/09/26, (SOFR + 0.480%)(a)(b)(c) |
13,750 | 13,316,875 | ||||||
3.34%, 04/26/24, (SOFR + 0.310%)(a)(c) |
11,076 | 10,990,272 | ||||||
3.36%, 01/14/25, (SOFR + 0.190%)(a)(c) |
14,035 | 13,782,230 | ||||||
3.39%, 10/21/23, (SOFR + 0.360%)(a)(c) |
6,655 | 6,641,623 | ||||||
3.64%, 04/21/25, (SOFR + 0.330%)(a)(c) |
19,800 | 19,550,520 | ||||||
4.19%, 01/10/23, (3 mo. LIBOR US + 0.280%)(a)(b)(c) |
18,596 | 18,574,801 | ||||||
Northwestern Mutual Global Funding, 3.35%, 03/25/24, (SOFR + 0.330%)(a)(b)(c) |
12,596 | 12,477,094 | ||||||
Pacific Life Global Funding II |
||||||||
3.37%, 06/04/26, (SOFR + 0.620%)(a)(b)(c) |
16,550 | 15,758,248 | ||||||
3.83%, 03/30/25, (SOFR+ 0.800%)(a)(c) |
15,500 | 15,262,075 | ||||||
Pacific Life Global Funding II., 3.43%, 01/27/25, (SOFR + 0.620%)(a)(c) |
4,355 | 4,245,515 | ||||||
Principal Life Global Funding II |
||||||||
3.07%, 08/23/24, (SOFR + 0.380%)(a)(c) |
9,271 | 9,128,041 | ||||||
3.49%, 04/12/24, (SOFR + 0.450%)(a)(c) |
11,443 | 11,402,606 | ||||||
Protective Life Global Funding, 4.01%, 03/28/25, (SOFR + 0.380%)(a)(b)(c) |
15,475 | 15,328,452 | ||||||
|
|
|||||||
531,299,309 | ||||||||
Internet — 0.6% | ||||||||
eBay Inc., 5.28%, 01/30/23, (3 mo. LIBOR US + 0.870%)(a) |
14,082 | 14,076,367 |
S C H E D U L E O F I N V E S T M E N T S |
91 |
Schedule of Investments (continued) October 31, 2022 |
iShares® Floating Rate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Internet (continued) |
||||||||
Tencent Holdings Ltd. |
||||||||
4.82%, 04/11/24, (3 mo. LIBOR US + 0.910%)(a)(b)(d) |
$ | 26,923 | $ | 26,816,924 | ||||
4.83%, 01/19/23, (3 mo. LIBOR US + 0.605%)(a)(b)(d) |
17,561 | 17,534,834 | ||||||
|
|
|||||||
58,428,125 | ||||||||
Machinery — 1.7% | ||||||||
Caterpillar Financial Services Corp. |
||||||||
2.74%, 11/13/23, (SOFR + 0.450%)(a)(b) |
900 | 898,956 | ||||||
2.80%, 11/17/22, (SOFR + 0.150%)(a)(b) |
17,929 | 17,926,490 | ||||||
2.89%, 05/17/24, (SOFR + 0.245%)(a)(b) |
17,630 | 17,500,772 | ||||||
3.10%, 09/13/24, (SOFR + 0.270%)(a) |
27,482 | 27,165,957 | ||||||
3.21%, 01/10/24, (SOFR + 0.170%)(a) |
25,527 | 25,394,770 | ||||||
John Deere Capital Corp. |
||||||||
3.16%, 07/10/23, (SOFR + 0.120%)(a)(b) |
19,463 | 19,366,658 | ||||||
3.24%, 10/11/24, (SOFR + 0.200%)(a)(b) |
19,619 | 19,360,029 | ||||||
3.28%, 03/07/25, (SOFR + 0.200%)(a)(b) |
12,985 | 12,859,176 | ||||||
3.69%, 06/07/23, (3 mo. LIBOR US + 0.550%)(a)(b) |
13,009 | 13,005,097 | ||||||
|
|
|||||||
153,477,905 | ||||||||
Manufacturing — 0.4% | ||||||||
3M
Co., 3.21%, 02/14/24, |
7,477 | 7,448,662 | ||||||
General
Electric Co., 3.21%, 05/05/26, |
32,248 | 30,559,172 | ||||||
|
|
|||||||
38,007,834 | ||||||||
Media — 0.6% | ||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital, 6.09%, 02/01/24 (Call 01/01/24), (3 mo. LIBOR US + 1.650%)(a) |
32,066 | 32,249,097 | ||||||
Comcast Corp., 4.71%, 04/15/24, (3 mo. LIBOR US + 0.630%)(a) |
19,591 | 19,564,160 | ||||||
|
|
|||||||
51,813,257 | ||||||||
Oil & Gas — 0.6% | ||||||||
Chevron Corp., 3.82%, 05/11/23, (3 mo. LIBOR US + 0.900%)(a) |
18,470 | 18,518,761 | ||||||
Chevron USA Inc., 3.12%, 08/11/23, (3 mo. LIBOR US + 0.200%)(a) |
18,810 | 18,763,916 | ||||||
Shell International Finance BV, 3.31%, 11/13/23, (3 mo. LIBOR US + 0.400%)(a)(b) |
20,310 | 20,294,767 | ||||||
|
|
|||||||
57,577,444 | ||||||||
Pharmaceuticals — 1.4% | ||||||||
AbbVie Inc., 3.63%, 11/21/22, (3 mo. LIBOR US + 0.650%)(a) |
26,663 | 26,645,669 | ||||||
AstraZeneca PLC, 3.61%, 08/17/23, (3 mo. LIBOR US + 0.665%)(a) |
11,913 | 11,916,455 | ||||||
Bayer
U.S. Finance II LLC, 4.30%, 12/15/23 (Call 11/15/23), (3 mo.
LIBOR US + |
44,975 | 44,917,882 | ||||||
Cigna Corp., 4.97%, 07/15/23 (Call 06/15/23), (3 mo. LIBOR US + 0.890%)(a)(b) |
29,323 | 29,347,631 | ||||||
GSK Consumer Healthcare Capital U.S. LLC, 3.93%, 03/24/24(c) |
9,905 | 9,873,715 | ||||||
Pfizer Inc., 3.62%, 09/15/23, (3 mo. LIBOR US + 0.330%)(a)(b) |
7,558 | 7,545,378 | ||||||
|
|
|||||||
130,246,730 | ||||||||
Pipelines — 0.5% | ||||||||
Enbridge Inc. |
||||||||
3.05%, 02/17/23, (SOFR + 0.400%)(a) |
21,111 | 21,036,900 | ||||||
3.26%, 02/16/24, (SOFR + 0.630%)(a) |
22,790 | 22,538,171 | ||||||
|
|
|||||||
43,575,071 |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts — 0.5% |
||||||||
Public
Storage, 3.49%, 04/23/24 (Call 12/01/22), |
$ | 25,286 | $ | 25,087,758 | ||||
Simon Property Group LP, 3.47%, 01/11/24 (Call 01/11/23), (3 mo. LIBOR US + 0.170%)(a) |
20,450 | 20,200,919 | ||||||
|
|
|||||||
45,288,677 | ||||||||
Retail — 0.1% | ||||||||
Starbucks
Corp., 3.05%, 02/14/24 (Call 02/14/23), |
7,888 | 7,853,135 | ||||||
|
|
|||||||
Semiconductors — 0.4% | ||||||||
Analog Devices Inc., 3.28%, 10/01/24, (SOFR + 0.250%)(a)(b) |
16,208 | 15,944,296 | ||||||
QUALCOMM Inc., 5.14%, 01/30/23, (3 mo. LIBOR US + 0.730%)(a)(b) |
18,616 | 18,623,260 | ||||||
|
|
|||||||
34,567,556 | ||||||||
Telecommunications — 2.3% | ||||||||
AT&T Inc. |
||||||||
3.66%, 03/25/24
(Call 12/01/22), |
27,301 | 27,114,534 | ||||||
4.42%, 06/12/24, (3 mo. LIBOR US + 1.180%)(a) |
57,655 | 57,750,131 | ||||||
Verizon Communications Inc. |
||||||||
3.48%, 03/22/24, (SOFR + 0.500%)(a) |
19,989 | 19,844,679 | ||||||
3.71%, 03/20/26, (SOFR + 0.790%)(a) |
28,091 | 27,324,678 | ||||||
4.01%, 05/15/25 (Call 03/15/25), (3 mo. LIBOR US + 1.100%)(a)(b) |
64,471 | 64,329,808 | ||||||
Vodafone Group PLC, 5.07%, 01/16/24, (3 mo. LIBOR US + 0.990%)(a)(b) |
17,881 | 17,845,417 | ||||||
|
|
|||||||
214,209,247 | ||||||||
Transportation — 0.1% | ||||||||
United Parcel Service Inc., 4.19%, 04/01/23, (3 mo. LIBOR US + 0.450%)(a)(b) |
13,352 | 13,337,847 | ||||||
|
|
|||||||
Total
Corporate Bonds & Notes — 79.0% |
|
7,252,294,227 | ||||||
|
|
|||||||
Foreign Government Obligations(e) |
|
|||||||
Canada — 1.1% | ||||||||
CPPIB Capital Inc. |
||||||||
3.99%, 03/11/26, (SOFR + 1.250%)(a)(c) |
46,220 | 47,351,003 | ||||||
4.28%, 04/04/25, (SOFR + 1.250%)(a)(b)(c) |
47,050 | 48,010,290 | ||||||
PSP
Capital Inc., 2.95%, 03/03/25, |
3,665 | 3,654,262 | ||||||
|
|
|||||||
99,015,555 | ||||||||
Norway — 1.2% | ||||||||
Kommunalbanken AS |
||||||||
3.18%, 10/27/23, (SOFR + 0.160%)(a)(c) |
44,992 | 44,995,599 | ||||||
3.85%, 06/17/26, (SOFR + 1.000%)(a)(c) |
66,830 | 68,161,254 | ||||||
|
|
|||||||
113,156,853 | ||||||||
South Korea — 0.7% | ||||||||
Export-Import Bank of Korea |
||||||||
3.71%, 11/01/22, (3 mo. LIBOR US + 0.925%)(a) |
19,740 | 19,740,000 | ||||||
3.86%, 06/01/23, (3 mo. LIBOR US + 0.775%)(a)(b) |
26,785 | 26,844,463 | ||||||
Korea
Development Bank (The), 3.15%, 03/09/24, |
16,275 | 16,229,104 | ||||||
|
|
|||||||
62,813,567 | ||||||||
Supranational — 12.8% | ||||||||
Asian Development Bank |
||||||||
3.67%, 08/27/26, (SOFR + 1.000%)(a) |
43,325 | 44,351,802 | ||||||
3.81%, 06/16/26, (SOFR + 1.000%)(a)(b) |
34,945 | 35,773,196 | ||||||
4.03%, 04/06/27, (SOFR + 1.000%)(a) |
45,338 | 46,528,122 |
92 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® Floating Rate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
|
||||||||
Supranational (continued) |
||||||||
Asian Infrastructure Investment Bank (The) |
||||||||
3.22%, 08/16/27(a)(c) |
$ | 22,000 | $ | 21,999,560 | ||||
3.26%, 04/15/26, (SOFR + 0.220%)(a)(b)(c) |
1,000 | 991,930 | ||||||
European Bank for Reconstruction & Development |
||||||||
3.09%, 03/13/23, (SOFR + 0.260%)(a) |
25,835 | 25,849,209 | ||||||
3.22%, 04/14/26, (SOFR + 0.190%)(a)(b) |
58,645 | 58,354,121 | ||||||
3.31%, 10/15/24, (SOFR + 0.280%)(a) |
59,250 | 59,393,977 | ||||||
European Investment Bank |
||||||||
3.03%, 03/05/24, (SOFR + 0.280%)(a)(c) |
55,128 | 55,236,051 | ||||||
3.26%, 01/30/23, (SOFR + 0.250%)(a)(c) |
38,020 | 38,035,588 | ||||||
4.03%, 01/21/26, (SOFR + 1.000%)(a)(c) |
57,615 | 58,868,702 | ||||||
4.33%, 01/19/23, (3 mo. LIBOR US + 0.100%)(a)(b)(c) |
24,982 | 24,978,503 | ||||||
Inter-American Development Bank |
||||||||
2.53%, 02/04/25, (SOFR + 0.250%)(a) |
36,610 | 36,651,003 | ||||||
2.78%, 02/10/26, (SOFR + 0.200%)(a) |
81,009 | 80,779,745 | ||||||
2.98%, 09/16/26, (SOFR + 0.170%)(a)(b) |
43,527 | 43,294,131 | ||||||
3.32%, 04/12/27, (SOFR + 0.170%)(a) |
42,600 | 42,531,414 | ||||||
Inter-American Investment Corp., 3.16%, 03/22/24, (SOFR + 0.270%)(a) |
1,500 | 1,499,310 | ||||||
International Bank for Reconstruction & Development |
||||||||
2.59%, 08/06/24, (SOFR + 0.300%)(a)(b) |
66,528 | 66,732,241 | ||||||
2.98%, 06/15/26, (SOFR + 0.130%)(a)(b) |
46,490 | 46,264,059 | ||||||
3.05%, 08/19/27(a) |
71,300 | 71,575,218 | ||||||
3.16%, 09/18/25, (SOFR + 0.310%)(a)(b) |
62,180 | 62,313,687 | ||||||
3.17%, 01/13/23, (SOFR + 0.130%)(a)(b) |
77,501 | 77,504,875 | ||||||
3.22%, 09/23/26(a) |
500 | 500,415 | ||||||
3.24%, 06/17/24, (SOFR + 0.390%)(a) |
46,970 | 47,170,562 | ||||||
International Finance Corp. |
||||||||
3.11%, 06/30/23, (SOFR + 0.090%)(a) |
32,750 | 32,700,548 | ||||||
3.12%, 04/03/24, (SOFR + 0.090%)(a) |
18,350 | 18,339,724 | ||||||
3.36%, 12/15/22, (3 mo. LIBOR US + 0.070%)(a)(b) |
47,737 | 47,700,243 | ||||||
Nordic Investment Bank, 3.59%, 05/12/26, (SOFR + 1.000%)(a) |
29,705 | 30,407,523 | ||||||
|
|
|||||||
1,176,325,459 | ||||||||
Sweden — 0.8% | ||||||||
Svensk Exportkredit AB |
||||||||
3.55%, 08/03/26(a) |
19,220 | 19,547,509 | ||||||
3.64%, 05/25/23, (SOFR + 1.000%)(a)(b) |
50,935 | 51,151,474 | ||||||
|
|
|||||||
70,698,983 | ||||||||
|
|
|||||||
Total
Foreign Government Obligations — 16.6% |
|
1,522,010,417 | ||||||
|
|
|||||||
Total
Long-Term Investments — 95.6% |
|
8,774,304,644 | ||||||
|
|
Security |
Shares (000) |
Value | ||||||
|
||||||||
Short-Term Securities |
||||||||
Money Market Funds — 6.8% |
||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.29%(f)(g)(h) |
222,209 | $ | 222,164,418 | |||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.97%(f)(g) |
398,752 | 398,752,000 | ||||||
|
|
|||||||
Total
Short-Term Securities — 6.8% |
|
620,916,418 | ||||||
|
|
|||||||
Total
Investments — 102.4% |
|
9,395,221,062 | ||||||
Liabilities in Excess of Other Assets — (2.4)% |
|
(217,705,899 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 9,177,515,163 | ||||||
|
|
(a) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(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) |
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(e) |
U.S. dollar denominated security issued by foreign domiciled entity. |
(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
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer |
Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 239,677,496 | $ | — | $ | (17,377,453 | )(a) | $ | (89,839 | ) | $ | (45,786 | ) | $ | 222,164,418 | 222,209 | $ | 946,239 | (b) | $ | — | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
17,502,000 | 381,250,000 | (a) | — | — | — | 398,752,000 | 398,752 | 2,042,298 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (89,839 | ) | $ | (45,786 | ) | $ | 620,916,418 | $ | 2,988,537 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
S C H E D U L E O F I N V E S T M E N T S |
93 |
Schedule of Investments (continued) October 31, 2022 |
iShares® Floating Rate Bond ETF |
Affiliates (continued)
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Corporate Bonds & Notes |
$ | — | $ | 7,252,294,227 | $ | — | $ | 7,252,294,227 | ||||||||
Foreign Government Obligations |
— | 1,522,010,417 | — | 1,522,010,417 | ||||||||||||
Money Market Funds |
620,916,418 | — | — | 620,916,418 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 620,916,418 | $ | 8,774,304,644 | $ | — | $ | 9,395,221,062 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
94 |
2 0 2 2 I S H A R E S 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 October 31, 2022 |
iShares® USD Green Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Corporate Bonds & Notes |
||||||||
Australia — 1.0% |
||||||||
National Australia Bank Ltd./New York, 3.63%, 06/20/23 |
$ | 1,275 | $ | 1,265,119 | ||||
Pingan Real Estate Capital Ltd., 3.45%, 07/29/26(a) |
200 | 130,052 | ||||||
Principal Life Global Funding II, 1.25%, 08/16/26(b) |
1,136 | 966,031 | ||||||
WP Carey Inc., 2.45%, 02/01/32 (Call 11/01/31) |
600 | 439,332 | ||||||
|
|
|||||||
2,800,534 | ||||||||
Brazil — 0.7% | ||||||||
Fibria Overseas Finance Ltd., 5.50%, 01/17/27(c) |
1,260 | 1,212,133 | ||||||
Suzano Austria GmbH, 5.75%, 07/14/26(a) |
700 | 688,891 | ||||||
|
|
|||||||
1,901,024 | ||||||||
Canada — 2.6% | ||||||||
Alimentation Couche-Tard Inc., 3.63%, 05/13/51 (Call 11/13/50)(b) |
550 | 346,324 | ||||||
Bank of Nova Scotia (The), 2.38%, 01/18/23(c) |
305 | 303,579 | ||||||
Bank of the Philippine Islands, 2.50%, 09/10/24(a) |
200 | 188,298 | ||||||
Brookfield Finance I UK PLC, 2.34%, 01/30/32 (Call 10/30/31) |
275 | 200,439 | ||||||
Brookfield Finance Inc., 2.72%, 04/15/31 (Call 01/15/31) |
1,585 | 1,226,742 | ||||||
Canadian Imperial Bank of Commerce, 0.95%, 10/23/25(c) |
1,050 | 920,661 | ||||||
China Merchants Bank Co. Ltd./Hong Kong, 1.20%, 09/10/25(a) |
200 | 178,712 | ||||||
Manulife Financial Corp., 3.70%, 03/16/32 (Call 12/16/31)(c) |
1,115 | 951,396 | ||||||
Royal Bank of Canada, 1.15%, 07/14/26 |
1,300 | 1,110,343 | ||||||
Southern Power Co., 0.90%, 01/15/26 (Call 12/15/25) |
600 | 519,708 | ||||||
Toronto-Dominion Bank (The), 1.25%, 12/13/24 |
1,400 | 1,285,354 | ||||||
|
|
|||||||
7,231,556 | ||||||||
Chile — 0.5% | ||||||||
Colbun SA, 3.15%, 01/19/32 (Call 10/19/31)(a) |
860 | 657,590 | ||||||
Inversiones CMPC SA, 4.38%, 04/04/27(a)(c) |
850 | 784,712 | ||||||
|
|
|||||||
1,442,302 | ||||||||
China — 8.5% | ||||||||
Agricultural Bank of China Ltd./Hong Kong |
||||||||
2.00%, 03/01/25(a) |
200 | 187,066 | ||||||
2.25%, 03/01/27(a) |
800 | 720,376 | ||||||
Agricultural Bank of China Ltd./New York |
||||||||
1.25%, 01/19/26(a) |
200 | 179,430 | ||||||
2.00%, 01/18/27(a) |
1,000 | 894,670 | ||||||
Amipeace Ltd., 1.75%, 11/09/26(a) |
700 | 621,215 | ||||||
Baidu Inc., 2.38%, 08/23/31 (Call 05/23/31)(c) |
1,100 | 781,671 | ||||||
Bank of China Ltd./Luxembourg, 1.40%, 04/28/26(a) |
800 | 715,064 | ||||||
Bank of China Ltd./Paris, 0.95%, 09/21/23(a) |
400 | 386,680 | ||||||
Bank of China Ltd./Singapore |
||||||||
0.80%, 04/28/24(a) |
2,000 | 1,884,300 | ||||||
3.25%, 04/28/25(a) |
700 | 673,575 | ||||||
Bank of China Ltd./Sydney, 0.75%, 09/29/24(a) |
200 | 185,098 | ||||||
Bank of China/Johannesburg, 1.88%, 02/16/25(a) |
200 | 186,850 | ||||||
CGNPC International Ltd., 2.75%, 07/02/24(a) |
1,400 | 1,346,268 | ||||||
China Construction Bank Corp./Hong Kong |
||||||||
1.00%, 08/04/23(a) |
2,000 | 1,943,920 | ||||||
1.25%, 08/04/25(a) |
1,200 | 1,087,524 | ||||||
China Construction Bank Corp./London, 3.13%, 05/17/25(a) |
1,400 | 1,341,634 | ||||||
China Merchants Bank Co. Ltd./Luxembourg Branch, 1.25%, 09/01/26(a) |
2,000 | 1,749,260 | ||||||
China Merchants Bank Co. Ltd./Sydney, 2.00%, 03/02/25(a) |
400 | 373,916 | ||||||
Greentown China Holdings Ltd., 2.30%, 01/27/25 |
200 | 181,976 | ||||||
Industrial & Commercial Bank of China Ltd./Hong Kong |
||||||||
1.63%, 10/28/26(a) |
1,600 | 1,420,816 | ||||||
2.95%, 06/01/25(a) |
1,500 | 1,430,295 |
Security |
Par (000) |
Value | ||||||
China (continued) |
||||||||
Industrial & Commercial Bank of China Ltd./Singapore, 1.00%, 10/28/24(a) |
$ | 1,200 | $ | 1,112,664 | ||||
Industrial Bank Co. Ltd./Hong Kong |
||||||||
0.88%, 06/10/24(a) |
1,000 | 937,930 | ||||||
3.25%, 05/18/25(a) |
1,000 | 960,170 | ||||||
Lenovo Group Ltd., 6.54%, 07/27/32 |
1,000 | 851,060 | ||||||
Wuhan Metro Group Co. Ltd., 2.96%, 09/24/24(a) |
800 | 762,272 | ||||||
Xiaomi Best Time International Ltd., 4.10%, 07/14/51 (Call 01/14/51)(a) |
600 | 292,722 | ||||||
Xingcheng Bvi Ltd., 2.38%, 10/08/26(a) |
600 | 527,382 | ||||||
|
|
|||||||
23,735,804 | ||||||||
France — 1.2% | ||||||||
BNP Paribas SA, 1.68%, 06/30/27 (Call 06/30/26)(b)(d) |
1,680 | 1,408,210 | ||||||
Electricite de France SA, 3.63%, 10/13/25 (Call 07/13/25)(b) |
2,030 | 1,917,497 | ||||||
|
|
|||||||
3,325,707 | ||||||||
Germany — 3.9% | ||||||||
Deutsche Bank AG/New York NY, 1.69%, 03/19/26(c) |
1,450 | 1,247,870 | ||||||
Kreditanstalt fuer Wiederaufbau |
||||||||
0.75%, 09/30/30 |
5,450 | 4,176,171 | ||||||
1.00%, 10/01/26(c) |
2,925 | 2,563,090 | ||||||
1.75%, 09/14/29 |
2,200 | 1,873,256 | ||||||
Landesbank Baden-Wuerttemberg, 2.00%, 02/24/25(a) |
1,200 | 1,119,600 | ||||||
|
|
|||||||
10,979,987 | ||||||||
Hong Kong — 2.3% | ||||||||
CMB International Leasing Management Ltd. |
||||||||
1.25%, 09/16/24 (Call 08/16/24)(a) |
200 | 183,748 | ||||||
1.75%, 09/16/26 (Call 08/16/26)(a) |
800 | 685,272 | ||||||
Hongkong Land Finance Cayman Islands Co. Ltd. (The), 2.25%, 07/15/31 (Call 04/15/31)(a) |
900 | 682,767 | ||||||
ICBCIL Finance Co. Ltd., 2.25%, 11/02/26(a) |
1,500 | 1,327,830 | ||||||
Link Finance Cayman 2009 Ltd. (The), 2.88%, 07/21/26(a) |
900 | 833,436 | ||||||
MTR Corp. Ltd., 1.63%, 08/19/30(a) |
2,350 | 1,823,812 | ||||||
Pingan Real Estate Capital Ltd., 2.75%, 07/29/24(a) |
250 | 212,635 | ||||||
Swire Properties MTN Financing Ltd., 3.50%, 01/10/28(a) |
900 | 827,181 | ||||||
|
|
|||||||
6,576,681 | ||||||||
India — 1.4% | ||||||||
Indian Railway Finance Corp. Ltd. |
||||||||
3.57%, 01/21/32(a) |
800 | 624,592 | ||||||
3.84%, 12/13/27(a) |
600 | 535,926 | ||||||
Power Finance Corp. Ltd., 3.75%, 12/06/27(a) |
500 | 437,460 | ||||||
REC Ltd., 3.88%, 07/07/27(a) |
700 | 621,103 | ||||||
State Bank of India/London, 4.50%, 09/28/23(a) |
1,800 | 1,783,854 | ||||||
|
|
|||||||
4,002,935 | ||||||||
Indonesia — 0.5% | ||||||||
Star Energy Geothermal Darajat II/Star Energy Geothermal Salak |
||||||||
3.25%, 04/14/29 (Call 04/14/24)(a) |
458 | 409,497 | ||||||
4.85%, 10/14/38 (Call 10/14/29)(a) |
1,200 | 892,860 | ||||||
|
|
|||||||
1,302,357 | ||||||||
Ireland — 0.4% | ||||||||
Bank of Ireland Group PLC, 6.25%, 09/16/26 (Call 09/16/25)(b)(d) |
1,300 | 1,256,307 | ||||||
|
|
|||||||
Japan — 4.5% | ||||||||
Central Nippon Expressway Co. Ltd., 0.89%, 12/10/25(a) |
700 | 610,505 | ||||||
Honda Motor Co. Ltd. |
||||||||
2.27%, 03/10/25 (Call 02/10/25)(c) |
1,100 | 1,032,559 | ||||||
2.53%, 03/10/27 (Call 02/10/27)(c) |
4,050 | 3,623,008 | ||||||
2.97%, 03/10/32 (Call 12/10/31)(c) |
430 | 356,083 |
S C H E D U L E O F I N V E S T M E N T S |
95 |
Schedule of Investments (continued) October 31, 2022 |
iShares® USD Green Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Japan (continued) |
||||||||
Marubeni Corp., 1.58%, 09/17/26 (Call 08/17/26)(a) |
$ | 1,100 | $ | 939,092 | ||||
Mitsubishi UFJ Financial Group Inc., 2.53%, 09/13/23(c) |
1,100 | 1,073,919 | ||||||
Mitsui Fudosan Co. Ltd., 2.57%, 01/21/32 (Call 10/21/31)(b) |
520 | 413,410 | ||||||
Mizuho Financial Group Inc., 3.26%, 05/22/30 (Call 05/22/29)(d) |
835 | 692,658 | ||||||
Norinchukin Bank (The), 4.87%, 09/14/27(b) |
800 | 776,696 | ||||||
Sumitomo Mitsui Financial Group Inc. |
||||||||
0.51%, 01/12/24 |
1,000 | 942,040 | ||||||
2.47%, 01/14/29 |
870 | 705,257 | ||||||
Sumitomo Mitsui Trust Bank Ltd. |
||||||||
1.55%, 03/25/26(b) |
900 | 789,669 | ||||||
2.80%, 03/10/27(b) |
650 | 582,472 | ||||||
|
|
|||||||
12,537,368 | ||||||||
Netherlands — 3.2% | ||||||||
ABN AMRO Bank NV, 2.47%, 12/13/29 (Call 12/13/28)(b)(d) |
1,550 | 1,204,427 | ||||||
Cooperatieve Rabobank UA |
||||||||
1.00%, 09/24/26 (Call 09/24/25)(b)(d) |
1,350 | 1,165,388 | ||||||
1.11%, 02/24/27 (Call 02/24/26)(b)(d) |
1,825 | 1,542,672 | ||||||
ING Groep NV |
||||||||
1.40%, 07/01/26 (Call 07/01/25)(b)(c)(d) |
805 | 705,180 | ||||||
4.63%, 01/06/26(b) |
2,800 | 2,665,264 | ||||||
Nederlandse Waterschapsbank NV, 2.38%, 03/24/26(b)(c) |
1,900 | 1,766,829 | ||||||
|
|
|||||||
9,049,760 | ||||||||
Portugal — 0.5% | ||||||||
EDP Finance BV |
||||||||
1.71%, 01/24/28(b) |
1,450 | 1,147,124 | ||||||
6.30%, 10/11/27 |
200 | 198,648 | ||||||
|
|
|||||||
1,345,772 | ||||||||
Qatar — 0.4% | ||||||||
QNB Finance Ltd., 1.63%, 09/22/25(a) |
1,200 | 1,073,208 | ||||||
|
|
|||||||
Saudi Arabia — 0.7% | ||||||||
Saudi Electricity Global Sukuk Co. 5 |
||||||||
1.74%, 09/17/25(a) |
1,200 | 1,080,492 | ||||||
2.41%, 09/17/30(a) |
1,100 | 884,763 | ||||||
|
|
|||||||
1,965,255 | ||||||||
Singapore — 0.3% | ||||||||
Vena Energy Capital Pte Ltd., 3.13%, 02/26/25(a) |
800 | 728,848 | ||||||
|
|
|||||||
South Korea — 4.5% | ||||||||
Hyundai Capital Services Inc., 1.25%, 02/08/26(a) |
1,700 | 1,467,593 | ||||||
Hyundai Heavy Industries Co Ltd, 3.18%, 03/28/27(a) |
200 | 180,608 | ||||||
Kia Corp. |
||||||||
1.00%, 04/16/24(a) |
2,200 | 2,058,100 | ||||||
2.38%, 02/14/25(a) |
1,050 | 969,360 | ||||||
2.75%, 02/14/27(a) |
500 | 432,650 | ||||||
Korea Development Bank (The), 0.75%, 01/25/25 |
2,300 | 2,089,757 | ||||||
Korea Electric Power Corp., 2.50%, 06/24/24(a) |
1,375 | 1,317,195 | ||||||
Korea Hydro & Nuclear Power Co. Ltd., 3.75%, 07/25/23 |
325 | 322,094 | ||||||
LG Chem Ltd. |
||||||||
3.25%, 10/15/24(a) |
1,100 | 1,053,987 | ||||||
3.63%, 04/15/29(a) |
800 | 711,808 | ||||||
Mirae Asset Securities Co. Ltd., 1.38%, 07/07/24(a) |
500 | 462,305 | ||||||
Shinhan Bank Co. Ltd., 4.38%, 04/13/32(a)(c) |
700 | 600,677 | ||||||
SK Battery America Inc., 2.13%, 01/26/26(a) |
1,200 | 982,680 | ||||||
|
|
|||||||
12,648,814 | ||||||||
Sweden — 0.6% | ||||||||
Swedbank AB, 1.54%, 11/16/26(b) |
1,800 | 1,545,822 | ||||||
|
|
Security |
Par (000) |
Value | ||||||
United Arab Emirates — 1.4% |
||||||||
Abu Dhabi Commercial Bank PJSC, 4.50%, 09/14/27(a) |
$ | 700 | $ | 666,638 | ||||
First Abu Dhabi Bank PJSC, 5.13%, 10/13/27 |
775 | 767,010 | ||||||
MAF Sukuk Ltd. |
||||||||
3.93%, 02/28/30(a) |
400 | 351,640 | ||||||
4.64%, 05/14/29(a) |
1,400 | 1,274,462 | ||||||
Sweihan PV Power Co. PJSC, 3.63%, 01/31/49(a) |
1,192 | 905,474 | ||||||
|
|
|||||||
3,965,224 | ||||||||
United Kingdom — 0.5% | ||||||||
Natwest Group PLC, 2.36%, 05/22/24 (Call 05/22/23)(d) |
1,300 | 1,267,643 | ||||||
|
|
|||||||
United States — 38.1% | ||||||||
AES Corp. (The) |
||||||||
1.38%, 01/15/26 (Call 12/15/25) |
1,465 | 1,268,763 | ||||||
2.45%, 01/15/31 (Call 10/15/30) |
1,595 | 1,204,688 | ||||||
Alexandria Real Estate Equities Inc. |
||||||||
2.00%, 05/18/32 (Call 02/18/32) |
690 | 498,166 | ||||||
2.95%, 03/15/34 (Call 12/15/33) |
1,735 | 1,303,610 | ||||||
3.80%, 04/15/26 (Call 02/15/26) |
1,145 | 1,083,949 | ||||||
Apple Inc. |
||||||||
2.85%, 02/23/23 (Call 12/23/22) |
365 | 363,230 | ||||||
3.00%, 06/20/27 (Call 03/20/27) |
1,810 | 1,689,146 | ||||||
Arizona Public Service Co., 2.65%, 09/15/50 (Call 03/15/50)(c) |
630 | 339,028 | ||||||
AvalonBay Communities Inc. |
||||||||
1.90%, 12/01/28 (Call 10/01/28)(c) |
1,550 | 1,263,420 | ||||||
2.05%, 01/15/32 (Call 10/15/31)(c) |
450 | 342,635 | ||||||
Avangrid Inc. |
||||||||
3.15%, 12/01/24 (Call 10/01/24) |
2,255 | 2,144,730 | ||||||
3.20%, 04/15/25 (Call 03/15/25) |
760 | 717,440 | ||||||
3.80%, 06/01/29 (Call 03/01/29) |
1,210 | 1,059,791 | ||||||
Bank of America Corp., 2.46%, 10/22/25 (Call 10/22/24), (3 mo. LIBOR US + 0.870%)(d) |
3,475 | 3,240,542 | ||||||
Boston Properties LP |
||||||||
2.45%, 10/01/33 (Call 07/01/33)(c) |
410 | 283,089 | ||||||
2.55%, 04/01/32 (Call 01/01/32) |
2,185 | 1,573,659 | ||||||
3.40%, 06/21/29 (Call 03/21/29) |
2,565 | 2,124,589 | ||||||
4.50%, 12/01/28 (Call 09/01/28) |
370 | 333,629 | ||||||
Citigroup Inc., 1.68%, 05/15/24 (Call 05/15/23), (SOFR + 1.667%)(d) |
3,350 | 3,276,434 | ||||||
Consolidated Edison Co. of New York Inc. |
||||||||
3.60%, 06/15/61 (Call 12/15/60) |
1,175 | 779,330 | ||||||
Series 20A, 3.35%, 04/01/30 (Call 01/01/30) |
1,100 | 954,140 | ||||||
Series 20B, 3.95%, 04/01/50 (Call 10/01/49)(c) |
1,535 | 1,136,023 | ||||||
Dominion Energy Inc., Series C, 2.25%, 08/15/31 (Call 05/15/31)(c) |
1,760 | 1,358,914 | ||||||
DTE Electric Co. |
||||||||
3.95%, 03/01/49 (Call 09/01/48) |
770 | 590,867 | ||||||
Series A, 1.90%, 04/01/28 (Call 02/01/28)(c) |
350 | 294,683 | ||||||
Series A, 4.05%, 05/15/48 (Call 11/15/47)(c) |
1,285 | 1,002,621 | ||||||
Series B, 3.25%, 04/01/51 (Call 10/01/50) |
375 | 250,976 | ||||||
Series B, 3.65%, 03/01/52 (Call 09/01/51) |
1,030 | 743,042 | ||||||
Duke Energy Carolinas LLC, 3.95%, 11/15/28 (Call 08/15/28) |
760 | 708,077 | ||||||
Duke Energy Florida LLC, 2.50%, 12/01/29 (Call 09/01/29) |
1,705 | 1,419,037 | ||||||
Duke Energy Progress LLC, 3.45%, 03/15/29 (Call 12/15/28)(c) |
775 | 695,206 | ||||||
Equinix Inc. |
||||||||
1.00%, 09/15/25 (Call 08/15/25) |
1,775 | 1,557,900 | ||||||
1.55%, 03/15/28 (Call 01/15/28) |
1,060 | 847,714 | ||||||
2.50%, 05/15/31 (Call 02/15/31) |
1,655 | 1,261,193 | ||||||
3.90%, 04/15/32 (Call 01/15/32) |
1,890 | 1,592,968 |
96 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® USD Green Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
United States (continued) |
||||||||
ERP Operating LP |
||||||||
1.85%, 08/01/31 (Call 05/01/31)(c) |
$ | 1,000 | $ | 746,840 | ||||
4.15%, 12/01/28 (Call 09/01/28) |
555 | 505,699 | ||||||
Evergy Kansas Central Inc., 2.55%, 07/01/26 (Call 04/01/26) |
588 | 534,498 | ||||||
Federal Realty Investment Trust, 1.25%, 02/15/26 (Call 01/15/26) |
600 | 521,418 | ||||||
Fifth Third Bancorp., 1.71%, 11/01/27 (Call 11/01/26), (SOFR + 0.685%)(d) |
930 | 791,290 | ||||||
General Motors Co. |
||||||||
5.40%, 10/15/29 (Call 08/15/29) |
335 | 310,505 | ||||||
5.60%, 10/15/32 (Call 07/15/32)(c) |
2,850 | 2,587,629 | ||||||
Georgia Power Co., 3.25%, 04/01/26 (Call 01/01/26) |
1,125 | 1,048,871 | ||||||
Healthpeak Properties Inc. |
||||||||
1.35%, 02/01/27 (Call 01/01/27) |
1,500 | 1,262,355 | ||||||
2.13%, 12/01/28 (Call 10/01/28) |
420 | 340,406 | ||||||
Host Hotels & Resorts LP |
||||||||
Series H, 3.38%, 12/15/29 (Call 09/15/29) |
455 | 365,174 | ||||||
Series I, 3.50%, 09/15/30 (Call 06/15/30) |
2,200 | 1,731,026 | ||||||
Series J, 2.90%, 12/15/31 (Call 09/15/31) |
295 | 213,568 | ||||||
Hudson Pacific Properties LP, 5.95%, 02/15/28 (Call 01/15/28) |
445 | 416,071 | ||||||
Industrial Bank Co. Ltd./Hong Kong, 1.13%, 11/06/23(a) |
200 | 192,176 | ||||||
Interstate Power & Light Co. |
||||||||
3.50%, 09/30/49 (Call 03/30/49) |
740 | 503,215 | ||||||
3.60%, 04/01/29 (Call 01/01/29) |
630 | 563,182 | ||||||
4.10%, 09/26/28 (Call 06/26/28) |
260 | 243,664 | ||||||
JPMorgan Chase & Co. |
||||||||
0.65%, 09/16/24 (Call 09/16/23), (SOFR + 0.600%)(d) |
1,880 | 1,794,817 | ||||||
0.77%, 08/09/25 (Call 08/09/24), (SOFR + 0.490%)(d) |
2,130 | 1,939,727 | ||||||
Kaiser Foundation Hospitals |
||||||||
3.15%, 05/01/27 (Call 02/01/27) |
820 | 751,243 | ||||||
Series 2021, 2.81%, 06/01/41 (Call 12/01/40)(c) |
2,060 | 1,380,591 | ||||||
Kilroy Realty LP |
||||||||
2.50%, 11/15/32 (Call 08/15/32) |
160 | 111,162 | ||||||
2.65%, 11/15/33 (Call 08/15/33) |
1,050 | 711,018 | ||||||
4.75%, 12/15/28 (Call 09/15/28) |
825 | 741,518 | ||||||
Kimco Realty Corp., 2.70%, 10/01/30 (Call 07/01/30)(c) |
860 | 677,293 | ||||||
Liberty Utilities Finance GP 1, 2.05%, 09/15/30 (Call 06/15/30)(b) |
1,165 | 859,479 | ||||||
Massachusetts Institute of Technology, 3.96%, 07/01/38 |
606 | 529,396 | ||||||
Metropolitan Life Global Funding I, 0.95%, 07/02/25(b) |
1,650 | 1,475,017 | ||||||
MidAmerican Energy Co. |
||||||||
2.70%, 08/01/52 (Call 02/01/52) |
50 | 29,960 | ||||||
3.10%, 05/01/27 (Call 02/01/27)(c) |
600 | 552,876 | ||||||
3.15%, 04/15/50 (Call 10/15/49) |
1,135 | 741,303 | ||||||
3.65%, 04/15/29 (Call 01/15/29) |
1,410 | 1,288,063 | ||||||
3.65%, 08/01/48 (Call 02/01/48) |
1,530 | 1,112,555 | ||||||
3.95%, 08/01/47 (Call 02/01/47) |
590 | 449,521 | ||||||
4.25%, 07/15/49 (Call 01/15/49) |
1,395 | 1,115,344 | ||||||
NextEra Energy Capital Holdings Inc., 1.90%, 06/15/28 (Call 04/15/28) |
2,555 | 2,112,193 | ||||||
Niagara Mohawk Power Corp., 1.96%, 06/27/30 (Call 03/27/30)(b) |
950 | 722,067 | ||||||
NiSource Inc., 5.00%, 06/15/52 (Call 12/15/51) |
545 | 457,593 | ||||||
Norinchukin Bank (The), 2.08%, 09/22/31(b) |
1,085 | 804,332 | ||||||
Northern States Power Co./MN |
||||||||
2.60%, 06/01/51 (Call 12/01/50) |
1,000 | 595,050 | ||||||
2.90%, 03/01/50 (Call 09/01/49) |
570 | 363,141 | ||||||
3.20%, 04/01/52 (Call 10/01/51) |
450 | 299,570 | ||||||
4.50%, 06/01/52 (Call 12/01/51) |
530 | 446,583 |
Security |
Par (000) |
Value | ||||||
United States (continued) |
||||||||
NSTAR Electric Co. |
||||||||
3.10%, 06/01/51 (Call 12/01/50) |
$ | 590 | $ | 377,635 | ||||
3.25%, 05/15/29 (Call 02/15/29) |
1,025 | 911,573 | ||||||
3.95%, 04/01/30 (Call 01/01/30) |
450 | 413,235 | ||||||
4.95%, 09/15/52 (Call 03/15/52) |
500 | 448,030 | ||||||
Oncor Electric Delivery Co. LLC, 4.15%, 06/01/32 (Call 03/01/32)(b) |
70 | 64,331 | ||||||
Pacific Life Global Funding II, 1.38%, 04/14/26(b) |
1,510 | 1,314,500 | ||||||
PacifiCorp, 2.90%, 06/15/52 (Call 12/15/51)(c) |
2,000 | 1,220,120 | ||||||
Piedmont Operating Partnership LP, 3.15%, 08/15/30 (Call 05/15/30) |
540 | 407,770 | ||||||
PNC Financial Services Group Inc. (The), 2.20%, 11/01/24 (Call 10/02/24)(c) |
1,050 | 989,982 | ||||||
Prologis LP |
||||||||
1.25%, 10/15/30 (Call 07/15/30) |
1,230 | 901,861 | ||||||
1.75%, 02/01/31 |
255 | 192,464 | ||||||
2.25%, 01/15/32 |
200 | 151,022 | ||||||
2.88%, 11/15/29 |
440 | 367,629 | ||||||
4.63%, 01/15/33 (Call 10/15/32) |
885 | 820,882 | ||||||
Prudential Financial Inc., 1.50%, 03/10/26 (Call 02/10/26)(c) |
550 | 487,669 | ||||||
Public Service Co. of Colorado |
||||||||
3.70%, 06/15/28 (Call 12/15/27) |
1,755 | 1,625,042 | ||||||
4.10%, 06/15/48 (Call 12/15/47) |
1,475 | 1,148,641 | ||||||
Series 34, 3.20%, 03/01/50 (Call 09/01/49) |
400 | 266,960 | ||||||
Series 36, 2.70%, 01/15/51 (Call 07/15/50) |
400 | 240,144 | ||||||
Public Service Co. of Oklahoma |
||||||||
Series J, 2.20%, 08/15/31 (Call 05/15/31) |
625 | 483,494 | ||||||
Series K, 3.15%, 08/15/51 (Call 02/15/51) |
295 | 181,260 | ||||||
Rexford Industrial Realty LP, 2.15%, 09/01/31 (Call 06/01/31) |
740 | 543,241 | ||||||
Seattle Children’s Hospital, Series 2021, 2.72%, 10/01/50 (Call 10/01/49)(c) |
440 | 257,356 | ||||||
SK Battery America Inc., 1.63%, 01/26/24(a) |
200 | 188,492 | ||||||
Solar Star Funding LLC, 5.38%, 06/30/35(b)(c) |
1,227 | 1,215,230 | ||||||
Southern Power Co., 4.15%, 12/01/25 (Call 09/01/25)(c) |
660 | 640,906 | ||||||
Southwestern Electric Power Co., 3.25%, 11/01/51 (Call 05/01/51) |
1,450 | 903,640 | ||||||
Southwestern Public Service Co. |
||||||||
3.75%, 06/15/49 (Call 12/15/48) |
75 | 53,367 | ||||||
Series 8, 3.15%, 05/01/50 (Call 11/01/49) |
2,050 | 1,328,728 | ||||||
Toyota Motor Credit Corp., 2.15%, 02/13/30(c) |
1,255 | 1,026,226 | ||||||
Tucson Electric Power Co., 1.50%, 08/01/30 (Call 05/01/30) |
725 | 539,603 | ||||||
UDR Inc. |
||||||||
1.90%, 03/15/33 (Call 12/15/32) |
515 | 347,203 | ||||||
3.10%, 11/01/34 (Call 08/01/34) |
500 | 366,640 | ||||||
Union Electric Co., 2.63%, 03/15/51 (Call 09/15/50) |
875 | 508,716 | ||||||
Union Pacific Corp., 4.95%, 09/09/52 (Call 03/09/52) |
920 | 829,978 | ||||||
Verizon Communications Inc. |
||||||||
1.50%, 09/18/30 (Call 06/18/30) |
1,980 | 1,471,160 | ||||||
2.85%, 09/03/41 (Call 03/03/41)(c) |
1,600 | 1,044,032 | ||||||
3.88%, 02/08/29 (Call 11/08/28) |
1,365 | 1,240,225 | ||||||
3.88%, 03/01/52 (Call 09/01/51) |
1,605 | 1,137,014 | ||||||
Vornado Realty LP |
||||||||
2.15%, 06/01/26 (Call 05/01/26) |
1,560 | 1,289,558 | ||||||
3.40%, 06/01/31 (Call 03/01/31) |
130 | 95,995 | ||||||
Welltower Inc. |
||||||||
2.70%, 02/15/27 (Call 12/15/26) |
820 | 725,347 | ||||||
3.85%, 06/15/32 (Call 03/15/32)(c) |
765 | 633,198 | ||||||
Wisconsin Electric Power Co., 4.75%, 09/30/32 (Call 06/30/32) |
450 | 428,706 |
S C H E D U L E O F I N V E S T M E N T S |
97 |
Schedule of Investments (continued) October 31, 2022 |
iShares® USD Green Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
United States (continued) | ||||||||
Wisconsin Power and Light Co. |
||||||||
1.95%, 09/16/31 (Call 06/16/31) |
$ | 475 | $ | 363,066 | ||||
3.95%, 09/01/32 (Call 06/01/32) |
700 | 620,627 | ||||||
Wisconsin Public Service Corp., 2.85%, 12/01/51 (Call 06/01/51) |
835 | 507,029 | ||||||
Xylem Inc./NY |
||||||||
1.95%, 01/30/28 (Call 11/30/27) |
375 | 314,704 | ||||||
2.25%, 01/30/31 (Call 10/30/30) |
1,090 | 856,304 | ||||||
|
|
|||||||
106,732,763 | ||||||||
|
|
|||||||
Total
Corporate Bonds & Notes — 77.7% |
217,415,671 | |||||||
|
|
|||||||
Foreign Government Obligations |
|
|||||||
Canada — 0.6% |
||||||||
CDP Financial Inc., 1.00%, 05/26/26(b) |
2,000 | 1,756,540 | ||||||
|
|
|||||||
Chile — 1.6% |
||||||||
Chile Government International Bond |
||||||||
2.55%, 01/27/32 (Call 10/27/31)(c) |
2,245 | 1,769,172 | ||||||
3.50%, 01/25/50 (Call 07/25/49)(c) |
3,890 | 2,568,256 | ||||||
|
|
|||||||
4,337,428 | ||||||||
China — 0.7% | ||||||||
China Development Bank/Hong Kong, 0.63%, 09/09/24(a) |
2,000 | 1,854,120 | ||||||
|
|
|||||||
Hong Kong — 1.9% | ||||||||
Airport Authority, 1.75%, 01/12/27(Call 12/12/26)(b)(c) |
1,500 | 1,332,165 | ||||||
Hong Kong Government International Bond |
||||||||
0.63%, 02/02/26(b)(c) |
400 | 354,304 | ||||||
1.38%, 02/02/31(b) |
1,900 | 1,493,647 | ||||||
1.75%, 11/24/31 |
1,700 | 1,354,492 | ||||||
2.38%, 02/02/51(b) |
800 | 472,160 | ||||||
2.50%, 05/28/24(b) |
200 | 193,430 | ||||||
|
|
|||||||
5,200,198 | ||||||||
Indonesia — 2.3% | ||||||||
Perusahaan Penerbit SBSN Indonesia III |
||||||||
3.55%, 06/09/51(a) |
1,190 | 804,797 | ||||||
3.75%, 03/01/23(a) |
1,130 | 1,125,988 | ||||||
3.90%, 08/20/24(a) |
2,280 | 2,244,136 | ||||||
4.70%, 06/06/32(a) |
2,460 | 2,309,079 | ||||||
|
|
|||||||
6,484,000 | ||||||||
Japan — 0.4% | ||||||||
Japan Bank for International Cooperation |
||||||||
1.63%, 01/20/27(c) |
950 | 838,347 | ||||||
4.38%, 10/05/27 |
200 | 197,160 | ||||||
|
|
|||||||
1,035,507 | ||||||||
Netherlands — 0.3% | ||||||||
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV, 2.75%, 02/20/24(a) |
1,000 | 975,200 | ||||||
|
|
|||||||
Norway — 0.2% | ||||||||
Kommunalbanken AS |
||||||||
0.50%, 10/21/24(b) |
300 | 276,810 | ||||||
2.13%, 02/11/25(b) |
400 | 378,864 | ||||||
|
|
|||||||
655,674 | ||||||||
Peru — 0.3% | ||||||||
Fondo MIVIVIENDA SA, 4.63%, 04/12/27(Call 03/12/27)(a) |
1,050 | 968,279 | ||||||
|
|
|||||||
Senegal — 0.1% | ||||||||
European Investment Bank, 0.63%, 10/21/27 |
425 | 355,083 | ||||||
|
|
Security |
Par/ Shares (000) |
Value | ||||||
South Korea — 1.9% |
||||||||
Export-Import Bank of Korea |
||||||||
1.75%, 10/19/28 (Call 08/19/28)(a) |
$ | 800 | $ | 648,184 | ||||
2.13%, 01/18/32 |
2,200 | 1,674,354 | ||||||
Incheon International Airport Corp., 1.25%, 05/04/26(a) |
700 | 611,597 | ||||||
Korea Development Bank (The), 0.40%, 06/19/24 |
450 | 417,776 | ||||||
Korea International Bond, 2.00%, 06/19/24 |
2,125 | 2,032,307 | ||||||
|
|
|||||||
5,384,218 | ||||||||
Supranational — 9.2% | ||||||||
Arab Petroleum Investments Corp., 1.48%, 10/06/26(b) |
1,400 | 1,229,032 | ||||||
Asian Development Bank |
||||||||
1.75%, 08/14/26 |
900 | 813,861 | ||||||
2.13%, 03/19/25 |
1,248 | 1,180,683 | ||||||
2.38%, 08/10/27 |
789 | 720,444 | ||||||
3.13%, 09/26/28 |
1,710 | 1,597,585 | ||||||
European Bank for Reconstruction & Development, 1.50%, 02/13/25 |
2,200 | 2,055,746 | ||||||
European Investment Bank |
||||||||
0.75%, 09/23/30 |
1,471 | 1,129,316 | ||||||
1.63%, 10/09/29 |
1,399 | 1,178,769 | ||||||
1.63%, 05/13/31(c) |
4,000 | 3,283,840 | ||||||
2.13%, 04/13/26 |
4,000 | 3,701,280 | ||||||
2.38%, 05/24/27 |
832 | 764,949 | ||||||
2.50%, 10/15/24(c) |
2,020 | 1,942,856 | ||||||
2.88%, 06/13/25(b) |
200 | 192,028 | ||||||
International Bank for Reconstruction & Development |
||||||||
2.13%, 03/03/25 |
500 | 473,825 | ||||||
3.13%, 11/20/25 |
2,680 | 2,573,175 | ||||||
International Finance Corp., 2.13%, 04/07/26(c) |
3,100 | 2,865,175 | ||||||
|
|
|||||||
25,702,564 | ||||||||
Sweden — 1.0% | ||||||||
Kommuninvest I Sverige AB |
||||||||
0.38%, 06/19/24(b)(c) |
2,000 | 1,866,100 | ||||||
1.63%, 04/24/23(b) |
1,000 | 986,240 | ||||||
|
|
|||||||
2,852,340 | ||||||||
|
|
|||||||
Total
Foreign Government Obligations — 20.5% |
|
57,561,151 | ||||||
|
|
|||||||
Municipal Debt Obligations |
||||||||
United States — 0.4% |
||||||||
City
of Los Angeles Department of Airports Customer Facility Charge Revenue
RB, |
285 | 225,616 | ||||||
District of Columbia Water & Sewer Authority RB, 4.81%, 10/01/2114 |
600 | 476,395 | ||||||
University of Michigan RB, 3.50%, 04/01/52 (Call 10/01/51) |
500 | 357,996 | ||||||
|
|
|||||||
Total
Municipal Debt Obligations — 0.4% |
|
1,060,007 | ||||||
|
|
|||||||
Total
Long-Term Investments — 98.6% |
276,036,829 | |||||||
|
|
|||||||
Short-Term Securities |
||||||||
Money Market Funds — 8.5% |
||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.29%(e)(f)(g) |
19,206 | 19,202,604 |
98 |
2 0 2 2 I S H A R E S 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 (continued) October 31, 2022 |
iShares® USD Green Bond ETF (Percentages shown are based on Net Assets) |
Security | Shares (000) |
Value | ||||||
|
||||||||
Money Market Funds (continued) |
||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.97%(e)(f) |
4,610 | $ | 4,610,000 | |||||
|
|
|||||||
Total
Short-Term Securities — 8.5% |
|
23,812,604 | ||||||
|
|
|||||||
Total
Investments — 107.1% |
299,849,433 | |||||||
Liabilities in Excess of Other Assets — (7.1)% |
(20,003,441 | ) | ||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 279,845,992 | ||||||
|
|
(a) |
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) |
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. |
(c) |
All or a portion of this security is on loan. |
(d) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(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
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 2,357,494 | $ | 16,843,075 | (a) | $ | — | $ | 1,451 | $ | 584 | $ | 19,202,604 | 19,206 | $ | 50,977 | (b) | $ | — | |||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
430,000 | 4,180,000 | (a) | — | — | — | 4,610,000 | 4,610 | 44,540 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 1,451 | $ | 584 | $ | 23,812,604 | $ | 95,517 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
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 Categorized by Risk Exposure
For the period ended October 31, 2022, 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 |
$ | — | $ | — | $ | — | $ | — | $ | (166,409 | ) | $ | — | $ | (166,409 | ) | ||||||||||||
Forward foreign currency exchange contracts |
— | — | — | 8,284,359 | — | — | 8,284,359 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | — | $ | — | $ | 8,284,359 | $ | (166,409 | ) | $ | — | $ | 8,117,950 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on |
||||||||||||||||||||||||||||
Forward foreign currency exchange contracts |
$ | — | $ | — | $ | — | $ | 221,040 | $ | — | $ | — | $ | 221,040 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
||||
Forward foreign currency exchange contracts |
||||
Average amounts purchased — in USD |
$ | 54,571,334 | ||
Average amounts sold — in USD |
$ | 108,581,288 | ||
|
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. 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.
S C H E D U L E O F I N V E S T M E N T S |
99 |
Schedule of Investments (continued) October 31, 2022 |
iShares® USD Green Bond ETF |
Fair Value Hierarchy as of Period End (continued)
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 | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Corporate Bonds & Notes |
$ | — | $ | 217,415,671 | $ | — | $ | 217,415,671 | ||||||||
Foreign Government Obligations |
— | 57,561,151 | — | 57,561,151 | ||||||||||||
Municipal Debt Obligations |
— | 1,060,007 | — | 1,060,007 | ||||||||||||
Money Market Funds |
23,812,604 | — | — | 23,812,604 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 23,812,604 | $ | 276,036,829 | $ | — | $ | 299,849,433 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
100 |
2 0 2 2 I S H A R E S 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
October 31, 2022
iShares 0-5 Year Investment Grade ETF |
iShares Aaa - A Rated Corporate Bond ETF |
iShares BB Rated Bond ETF |
iShares Convertible Bond ETF |
|||||||||||||
|
||||||||||||||||
ASSETS |
||||||||||||||||
Investments, at value — unaffiliated(a)(b) |
$ | 2,960,324,717 | $ | 760,582,892 | $ | 321,684,876 | $ | 1,822,368,389 | ||||||||
Investments, at value — affiliated(c) |
237,158,166 | 60,343,512 | 34,146,195 | 10,590,355 | ||||||||||||
Cash |
209,463 | — | 998 | 7,844 | ||||||||||||
Foreign currency, at value(d) |
— | — | 14 | — | ||||||||||||
Receivables: |
||||||||||||||||
Investments sold |
3,112,140 | 12,594,068 | 3,995,155 | 14,486,225 | ||||||||||||
Securities lending income — affiliated |
51,771 | 17,902 | 10,728 | 97 | ||||||||||||
Capital shares sold |
202,564 | — | 751,940 | — | ||||||||||||
Dividends — affiliated |
43,299 | 6,149 | 9,653 | 24,160 | ||||||||||||
Interest — unaffiliated |
23,304,515 | 7,228,413 | 4,682,054 | 5,394,353 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
3,224,406,635 | 840,772,936 | 365,281,613 | 1,852,871,423 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
LIABILITIES |
||||||||||||||||
Bank overdraft |
— | 9,818 | — | — | ||||||||||||
Collateral on securities loaned, at value |
222,049,977 | 58,915,772 | 29,806,049 | 310,500 | ||||||||||||
Payables: |
||||||||||||||||
Investments purchased |
9,399,127 | 7,824,267 | 5,641,952 | 16,408,903 | ||||||||||||
Investment advisory fees |
151,179 | 104,532 | 32,843 | 307,031 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
231,600,283 | 66,854,389 | 35,480,844 | 17,026,434 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 2,992,806,352 | $ | 773,918,547 | $ | 329,800,769 | $ | 1,835,844,989 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS CONSIST OF |
||||||||||||||||
Paid-in capital |
$ | 3,194,999,174 | $ | 952,311,572 | $ | 347,495,704 | $ | 2,271,354,644 | ||||||||
Accumulated loss |
(202,192,822 | ) | (178,393,025 | ) | (17,694,935 | ) | (435,509,655 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 2,992,806,352 | $ | 773,918,547 | $ | 329,800,769 | $ | 1,835,844,989 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSET VALUE |
||||||||||||||||
Shares outstanding |
63,350,000 | 17,300,000 | 7,500,000 | 25,950,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net asset value |
$ | 47.24 | $ | 44.74 | $ | 43.97 | $ | 70.75 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares authorized |
Unlimited | Unlimited | Unlimited | Unlimited | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Par value |
None | None | None | None | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
(a) Investments, at cost — unaffiliated |
$ | 3,159,623,858 | $ | 929,936,439 | $ | 338,627,160 | $ | 2,207,952,166 | ||||||||
(b) Securities loaned, at value |
$ | 213,403,897 | $ | 57,118,919 | $ | 28,653,329 | $ | 307,262 | ||||||||
(c) Investments, at cost — affiliated |
$ | 237,157,845 | $ | 60,342,065 | $ | 34,149,570 | $ | 10,590,441 | ||||||||
(d) Foreign currency, at cost |
$ | — | $ | — | $ | 14 | $ | — |
See notes to financial statements.
F I N A N C I A L S T A T E M E N T S |
101 |
Statements of Assets and Liabilities (continued)
October 31, 2022
iShares Floating Rate Bond ETF |
iShares USD Green Bond ETF |
|||||||||||
|
||||||||||||
ASSETS |
||||||||||||
Investments, at value — unaffiliated(a)(b) |
$ | 8,774,304,644 | $ | 276,036,829 | ||||||||
Investments, at value — affiliated(c) |
620,916,418 | 23,812,604 | ||||||||||
Cash |
94,450,898 | 5,830 | ||||||||||
Foreign currency, at value(d) |
— | 1,724 | ||||||||||
Receivables: |
||||||||||||
Investments sold |
42,925,182 | 1,304,321 | ||||||||||
Securities lending income — affiliated |
122,104 | 9,341 | ||||||||||
Capital shares sold |
13,236,806 | 630,186 | ||||||||||
Dividends — affiliated |
607,031 | 10,430 | ||||||||||
Interest — unaffiliated |
42,882,214 | 2,044,149 | ||||||||||
|
|
|
|
|||||||||
Total assets |
9,589,445,297 | 303,855,414 | ||||||||||
|
|
|
|
|||||||||
LIABILITIES |
||||||||||||
Collateral on securities loaned, at value |
222,136,923 | 19,199,685 | ||||||||||
Payables: |
||||||||||||
Investments purchased |
188,553,469 | 4,790,645 | ||||||||||
Variation margin on futures contracts |
— | 29 | ||||||||||
Capital shares redeemed |
67,812 | — | ||||||||||
Investment advisory fees |
1,171,930 | 19,063 | ||||||||||
|
|
|
|
|||||||||
Total liabilities |
411,930,134 | 24,009,422 | ||||||||||
|
|
|
|
|||||||||
NET ASSETS |
$ | 9,177,515,163 | $ | 279,845,992 | ||||||||
|
|
|
|
|||||||||
NET ASSETS CONSIST OF |
||||||||||||
Paid-in capital |
$ | 9,300,462,042 | $ | 332,996,497 | ||||||||
Accumulated loss |
(122,946,879 | ) | (53,150,505 | ) | ||||||||
|
|
|
|
|||||||||
NET ASSETS |
$ | 9,177,515,163 | $ | 279,845,992 | ||||||||
|
|
|
|
|||||||||
NET ASSET VALUE |
||||||||||||
Shares outstanding |
182,400,000 | 6,250,000 | ||||||||||
|
|
|
|
|||||||||
Net asset value |
$ | 50.32 | $ | 44.78 | ||||||||
|
|
|
|
|||||||||
Shares authorized |
Unlimited | Unlimited | ||||||||||
|
|
|
|
|||||||||
Par value |
None | None | ||||||||||
|
|
|
|
|||||||||
(a) Investments, at cost — unaffiliated |
$ | 8,856,380,011 | $ | 313,786,949 | ||||||||
(b) Securities loaned, at value |
$ | 212,109,505 | $ | 18,628,347 | ||||||||
(c) Investments, at cost — affiliated |
$ | 620,893,789 | $ | 23,811,694 | ||||||||
(d) Foreign currency, at cost |
$ | — | $ | 1,731 |
See notes to financial statements.
102 |
2 0 2 2 I S H A R E S 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 |
Year Ended October 31, 2022
iShares 0-5 Year Corporate Bond ETF |
iShares Aaa - A Rated Corporate Bond ETF |
iShares BB Rated Corporate Bond ETF |
iShares Convertible Bond ETF |
|||||||||||||
|
||||||||||||||||
INVESTMENT INCOME |
||||||||||||||||
Dividends — affiliated |
$ | 259,047 | $ | 42,852 | $ | 30,166 | $ | 75,594 | ||||||||
Interest — unaffiliated |
46,002,920 | 26,778,731 | 7,146,813 | 28,515,378 | ||||||||||||
Securities lending income — affiliated — net |
344,297 | 186,228 | 47,640 | 993 | ||||||||||||
Other income — unaffiliated |
97,353 | — | 4,555 | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total investment income |
46,703,617 | 27,007,811 | 7,229,174 | 28,591,965 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
EXPENSES |
||||||||||||||||
Investment advisory |
1,555,139 | 1,618,454 | 356,773 | 3,474,137 | ||||||||||||
Professional |
217 | 217 | — | 217 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses |
1,555,356 | 1,618,671 | 356,773 | 3,474,354 | ||||||||||||
Less: |
||||||||||||||||
Investment advisory fees waived |
— | — | (142,709 | ) | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses after fees waived |
1,555,356 | 1,618,671 | 214,064 | 3,474,354 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income |
45,148,261 | 25,389,140 | 7,015,110 | 25,117,611 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments — unaffiliated |
(5,730,343 | ) | (10,024,915 | ) | (1,665,380 | ) | (52,385,282 | ) | ||||||||
Investments — affiliated |
(60,761 | ) | (40,907 | ) | (5,586 | ) | (138 | ) | ||||||||
In-kind redemptions — unaffiliated(a) |
(5,221,529 | ) | (72,810,599 | ) | (1,352,490 | ) | 58,348,822 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
(11,012,633 | ) | (82,876,421 | ) | (3,023,456 | ) | 5,963,402 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
Investments — unaffiliated |
(204,180,605 | ) | (173,886,257 | ) | (17,947,160 | ) | (483,804,731 | ) | ||||||||
Investments — affiliated |
(38,891 | ) | (12,883 | ) | (3,375 | ) | (86 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
(204,219,496 | ) | (173,899,140 | ) | (17,950,535 | ) | (483,804,817 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized and unrealized loss |
(215,232,129 | ) | (256,775,561 | ) | (20,973,991 | ) | (477,841,415 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (170,083,868 | ) | $ | (231,386,421 | ) | $ | (13,958,881 | ) | $ | (452,723,804 | ) | ||||
|
|
|
|
|
|
|
|
(a) |
See Note 2 of the Notes to Financial Statements. |
See notes to financial statements.
F I N A N C I A L S T A T E M E N T S |
103 |
Statements of Operations (continued)
Year Ended October 31, 2022
iShares Floating Rate Bond ETF |
iShares USD Green Bond ETF |
|||||||
|
||||||||
INVESTMENT INCOME |
||||||||
Dividends — affiliated |
$ | 2,051,492 | $ | 44,748 | ||||
Interest — unaffiliated |
137,738,023 | 5,911,089 | ||||||
Securities lending income — affiliated — net |
937,045 | 50,769 | ||||||
Other income — unaffiliated |
— | 2,195 | ||||||
|
|
|
|
|||||
Total investment income |
140,726,560 | 6,008,801 | ||||||
|
|
|
|
|||||
EXPENSES |
||||||||
Investment advisory |
13,136,354 | 549,617 | ||||||
Professional |
217 | — | ||||||
|
|
|
|
|||||
Total expenses |
13,136,571 | 549,617 | ||||||
Less: |
||||||||
Investment advisory fees waived |
— | (226,751 | ) | |||||
|
|
|
|
|||||
Total expenses after fees waived |
13,136,571 | 322,866 | ||||||
|
|
|
|
|||||
Net investment income |
127,589,989 | 5,685,935 | ||||||
|
|
|
|
|||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||
Net realized gain (loss) from: |
||||||||
Investments — unaffiliated |
(5,878,280 | ) | (21,935,997 | ) | ||||
Investments — affiliated |
(89,839 | ) | 1,451 | |||||
Forward foreign currency exchange contracts |
— | 8,284,359 | ||||||
Foreign currency transactions |
— | (2,267,163 | ) | |||||
Futures contracts |
— | (166,409 | ) | |||||
In-kind redemptions — unaffiliated(a) |
(4,458,598 | ) | — | |||||
|
|
|
|
|||||
(10,426,717 | ) | (16,083,759 | ) | |||||
|
|
|
|
|||||
Net change in unrealized appreciation (depreciation) on: |
||||||||
Investments — unaffiliated |
(97,164,429 | ) | (36,000,943 | ) | ||||
Investments — affiliated |
(45,786 | ) | 584 | |||||
Forward foreign currency exchange contracts |
— | 221,040 | ||||||
Foreign currency translations |
— | (4,276 | ) | |||||
|
|
|
|
|||||
(97,210,215 | ) | (35,783,595 | ) | |||||
|
|
|
|
|||||
Net realized and unrealized loss |
(107,636,932 | ) | (51,867,354 | ) | ||||
|
|
|
|
|||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 19,953,057 | $ | (46,181,419 | ) | |||
|
|
|
|
(a) |
See Note 2 of the Notes to Financial Statements. |
See notes to financial statements.
104 |
2 0 2 2 I S H A R E S 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 0-5 Year Investment Grade Corporate Bond ETF |
iShares Aaa - A Rated Corporate Bond ETF |
|||||||||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
Year Ended 10/31/22 |
Year Ended 10/31/21 |
|||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||||||||||||||||||
Net investment income |
$ | 45,148,261 | $ | 36,355,210 | $ | 25,389,140 | $ | 24,954,172 | ||||||||||||||||||||||||||||
Net realized gain (loss) |
(11,012,633 | ) | 16,889,454 | (82,876,421 | ) | 33,193,047 | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) |
(204,219,496 | ) | (45,284,155 | ) | (173,899,140 | ) | (56,389,478 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
(170,083,868 | ) | 7,960,509 | (231,386,421 | ) | 1,757,741 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(47,021,596 | ) | (38,988,629 | ) | (25,462,884 | ) | (26,862,436 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets derived from capital share transactions |
688,016,139 | 490,785,692 | (155,576,949 | ) | (273,973,795 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
NET ASSETS |
||||||||||||||||||||||||||||||||||||
Total increase (decrease) in net assets |
470,910,675 | 459,757,572 | (412,426,254 | ) | (299,078,490 | ) | ||||||||||||||||||||||||||||||
Beginning of year |
2,521,895,677 | 2,062,138,105 | 1,186,344,801 | 1,485,423,291 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
End of year |
$ | 2,992,806,352 | $ | 2,521,895,677 | $ | 773,918,547 | $ | 1,186,344,801 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
(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 |
105 |
Statements of Changes in Net Assets (continued)
iShares BB Rated Corporate Bond ETF |
iShares Convertible Bond ETF |
|||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
Year Ended 10/31/22 |
Year Ended 10/31/21 |
|||||||||||||||||||||
|
||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||||||
Net investment income |
$ | 7,015,110 | $ | 4,010,886 | $ | 25,117,611 | $ | 11,940,775 | ||||||||||||||||
Net realized gain (loss) |
(3,023,456 | ) | 2,380,664 | 5,963,402 | 306,116,739 | |||||||||||||||||||
Net change in unrealized appreciation (depreciation) |
(17,950,535 | ) | 1,509,216 | (483,804,817 | ) | (34,834,225 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
(13,958,881 | ) | 7,900,766 | (452,723,804 | ) | 283,223,289 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(6,600,508 | ) | (4,026,444 | ) | (132,186,015 | ) | (48,045,347 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||
Net increase in net assets derived from capital share transactions |
256,748,898 | 17,586,117 | 513,557,075 | 820,513,033 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
NET ASSETS |
||||||||||||||||||||||||
Total increase (decrease) in net assets |
236,189,509 | 21,460,439 | (71,352,744 | ) | 1,055,690,975 | |||||||||||||||||||
Beginning of year |
93,611,260 | 72,150,821 | 1,907,197,733 | 851,506,758 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
End of year |
$ | 329,800,769 | $ | 93,611,260 | $ | 1,835,844,989 | $ | 1,907,197,733 | ||||||||||||||||
|
|
|
|
|
|
|
|
(a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
106 |
2 0 2 2 I S H A R E S 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 Floating Rate Bond ETF |
iShares USD Green Bond ETF |
|||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
Year Ended 10/31/22 |
Year Ended 10/31/21 |
|||||||||||||||||||||
|
||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||||||
Net investment income |
$ | 127,589,989 | $ | 26,425,057 | $ | 5,685,935 | $ | 1,095,655 | ||||||||||||||||
Net realized gain (loss) |
(10,426,717 | ) | 4,478,942 | (16,083,759 | ) | 3,894,405 | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) |
(97,210,215 | ) | 176,023 | (35,783,595 | ) | (9,384,301 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
19,953,057 | 31,080,022 | (46,181,419 | ) | (4,394,241 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(95,055,574 | ) | (28,120,691 | ) | (6,645,338 | ) | (384,864 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||
Net increase in net assets derived from capital share transactions |
2,251,071,596 | 1,406,363,044 | 95,766,234 | 108,214,385 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
NET ASSETS |
||||||||||||||||||||||||
Total increase in net assets |
2,175,969,079 | 1,409,322,375 | 42,939,477 | 103,435,280 | ||||||||||||||||||||
Beginning of year |
7,001,546,084 | 5,592,223,709 | 236,906,515 | 133,471,235 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
End of year |
$ | 9,177,515,163 | $ | 7,001,546,084 | $ | 279,845,992 | $ | 236,906,515 | ||||||||||||||||
|
|
|
|
|
|
|
|
(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 |
107 |
(For a share outstanding throughout each period)
iShares 0-5 Year Investment Grade Corporate Bond ETF | ||||||||||||||||||||
|
|
|||||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
||||||||||||||||
|
||||||||||||||||||||
Net asset value, beginning of year |
$ | 51.36 | $ | 52.01 | $ | 51.17 | $ | 49.43 | $ | 50.49 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income(a) |
0.86 | 0.80 | 1.27 | 1.48 | 1.27 | |||||||||||||||
Net realized and unrealized gain (loss)(b) |
(4.09 | ) | (0.57 | ) | 0.90 | 1.71 | (1.18 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net increase (decrease) from investment operations |
(3.23 | ) | 0.23 | 2.17 | 3.19 | 0.09 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Distributions(c) |
||||||||||||||||||||
From net investment income |
(0.82 | ) | (0.87 | ) | (1.32 | ) | (1.45 | ) | (1.15 | ) | ||||||||||
From net realized gain |
(0.07 | ) | (0.01 | ) | (0.01 | ) | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total distributions |
(0.89 | ) | (0.88 | ) | (1.33 | ) | (1.45 | ) | (1.15 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net asset value, end of year |
$ | 47.24 | $ | 51.36 | $ | 52.01 | $ | 51.17 | $ | 49.43 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Return(d) |
||||||||||||||||||||
Based on net asset value |
(6.35 | )% | 0.44 | % | 4.31 | % | 6.55 | % | 0.18 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Ratios to Average Net Assets(e) |
||||||||||||||||||||
Total expenses |
0.06 | % | 0.06 | % | 0.06 | % | 0.06 | % | 0.06 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income |
1.74 | % | 1.54 | % | 2.48 | % | 2.95 | % | 2.56 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Supplemental Data |
||||||||||||||||||||
Net assets, end of year (000) |
$ | 2,992,806 | $ | 2,521,896 | $ | 2,062,138 | $ | 1,934,285 | $ | 1,418,761 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Portfolio turnover rate(f) |
20 | % | 23 | % | 29 | % | 20 | % | 15 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(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) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(f) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
108 |
2 0 2 2 I S H A R E S 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 Aaa - A Rated Corporate Bond ETF | ||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Net asset value, beginning of year |
$ | 56.49 | $ | 57.46 | $ | 54.85 | $ | 49.57 | $ | 52.76 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net investment income(a) |
1.20 | 1.10 | 1.35 | 1.68 | 1.53 | |||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) |
(11.75 | ) | (0.91 | ) | 2.68 | 5.25 | (3.23 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net increase (decrease) from investment operations |
(10.55 | ) | 0.19 | 4.03 | 6.93 | (1.70 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Distributions(c) |
||||||||||||||||||||||||||||||||
From net investment income |
(1.20 | ) | (1.13 | ) | (1.42 | ) | (1.65 | ) | (1.49 | ) | ||||||||||||||||||||||
From net realized gain |
— | (0.03 | ) | — | — | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total distributions |
(1.20 | ) | (1.16 | ) | (1.42 | ) | (1.65 | ) | (1.49 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net asset value, end of year |
$ | 44.74 | $ | 56.49 | $ | 57.46 | $ | 54.85 | $ | 49.57 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||||||
Based on net asset value |
(18.93 | )% | 0.34 | % | 7.44 | % | 14.22 | % | (3.27 | )% | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Ratios to Average Net Assets(e) |
||||||||||||||||||||||||||||||||
Total expenses |
0.15 | % | 0.15 | % | 0.15 | % | 0.15 | % | 0.15 | % | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net investment income |
2.35 | % | 1.93 | % | 2.37 | % | 3.19 | % | 3.00 | % | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||||
Net assets, end of year (000) |
$ | 773,919 | $ | 1,186,345 | $ | 1,485,423 | $ | 419,610 | $ | 158,621 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Portfolio turnover rate(f) |
14 | % | 17 | % | 16 | % | 16 | % | 15 | % | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(f) |
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 |
109 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares BB Rated Corporate Bond ETF | ||||||||||||||||||||||
|
||||||||||||||||||||||
Period From | ||||||||||||||||||||||
Year Ended | Year Ended | 10/06/20 | (a) | |||||||||||||||||||
10/31/22 | 10/31/21 | to 10/31/20 | ||||||||||||||||||||
|
||||||||||||||||||||||
Net asset value, beginning of period |
$ | 52.01 | $ | 49.76 | $ | 50.00 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Net investment income(b) |
2.28 | 1.89 | 0.12 | |||||||||||||||||||
Net realized and unrealized gain (loss)(c) |
(8.04 | ) | 2.25 | (0.36 | ) | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) from investment operations |
(5.76 | ) | 4.14 | (0.24 | ) | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Distributions(d) |
||||||||||||||||||||||
From net investment income |
(2.12 | ) | (1.89 | ) | — | |||||||||||||||||
From net realized gain |
(0.16 | ) | — | — | ||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total distributions |
(2.28 | ) | (1.89 | ) | — | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Net asset value, end of period |
$ | 43.97 | $ | 52.01 | $ | 49.76 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total Return(e) |
||||||||||||||||||||||
Based on net asset value |
(11.30 | )% | 8.39 | % | (0.48 | )%(f) | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Ratios to Average Net Assets(g) |
||||||||||||||||||||||
Total expenses |
0.25 | % | 0.25 | % | 0.25 | %(h) | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total expenses after fees waived |
0.15 | % | 0.15 | % | 0.15 | %(h) | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Net investment income |
4.92 | % | 3.64 | % | 3.36 | %(h) | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Supplemental Data |
||||||||||||||||||||||
Net assets, end of period (000) |
$ | 329,801 | $ | 93,611 | $ | 72,151 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Portfolio turnover rate(i) |
21 | % | 32 | % | 0 | %(j) | ||||||||||||||||
|
|
|
|
|
|
(a) |
Commencement of operations. |
(b) |
Based on average shares outstanding. |
(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. |
(j) |
Rounds to less than 1%. |
See notes to financial statements.
110 |
2 0 2 2 I S H A R E S 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 Convertible Bond ETF | ||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of year |
$ | 102.26 | $ | 80.71 | $ | 59.07 | $ | 55.86 | $ | 55.38 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net investment income(a) |
1.13 | 0.75 | 0.86 | 0.96 | 0.93 | |||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) |
(25.49 | ) | 24.52 | 21.90 | 4.74 | 0.87 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net increase (decrease) from investment operations |
(24.36 | ) | 25.27 | 22.76 | 5.70 | 1.80 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Distributions(c) |
||||||||||||||||||||||||||||||||||||||||
From net investment income |
(1.30 | ) | (0.97 | ) | (1.12 | ) | (2.02 | ) | (1.13 | ) | ||||||||||||||||||||||||||||||
From net realized gain |
(5.85 | ) | (2.75 | ) | — | (0.47 | ) | (0.19 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total distributions |
(7.15 | ) | (3.72 | ) | (1.12 | ) | (2.49 | ) | (1.32 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net asset value, end of year |
$ | 70.75 | $ | 102.26 | $ | 80.71 | $ | 59.07 | $ | 55.86 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||||||||||||||
Based on net asset value |
(25.08 | )% | 31.91 | % | 39.02 | % | 10.55 | % | 3.26 | %(e) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Ratios to Average Net Assets(f) |
||||||||||||||||||||||||||||||||||||||||
Total expenses |
0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net investment income |
1.45 | % | 0.75 | % | 1.24 | % | 1.66 | % | 1.64 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||||||||||||
Net assets, end of year (000) |
$ | 1,835,845 | $ | 1,907,198 | $ | 851,507 | $ | 404,627 | $ | 259,730 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Portfolio turnover rate(g) |
17 | % | 46 | % | 33 | % | 24 | % | 29 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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) |
Includes payment received from an affiliate, which impacted the Fund’s total return. Excluding the payment from an affiliate, the Fund’s total return would have been -1.94%. |
(f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(g) |
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 |
111 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Floating Rate Bond ETF | ||||||||||||||||||||||
|
|
|||||||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
||||||||||||||||||
|
||||||||||||||||||||||
Net asset value, beginning of year |
$ | 50.74 | $ | 50.70 | $ | 50.98 | $ | 50.93 | $ | 50.93 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net investment income(a) |
0.73 | 0.22 | 0.83 | 1.44 | 1.19 | |||||||||||||||||
Net realized and unrealized gain (loss)(b) |
(0.63 | ) | 0.05 | (0.24 | ) | 0.08 | (0.13 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net increase from investment operations |
0.10 | 0.27 | 0.59 | 1.52 | 1.06 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Distributions from net investment income(c) |
(0.52 | ) | (0.23 | ) | (0.87 | ) | (1.47 | ) | (1.06 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net asset value, end of year |
$ | 50.32 | $ | 50.74 | $ | 50.70 | $ | 50.98 | $ | 50.93 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Return(d) |
||||||||||||||||||||||
Based on net asset value |
0.21 | % | 0.52 | % | 1.19 | % | 3.02 | % | 2.11 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Ratios to Average Net Assets(e) |
||||||||||||||||||||||
Total expenses |
0.15 | % | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net investment income |
1.46 | % | 0.43 | % | 1.64 | % | 2.84 | % | 2.33 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Supplemental Data |
||||||||||||||||||||||
Net assets, end of year (000) |
$ | 9,177,515 | $ | 7,001,546 | $ | 5,592,224 | $ | 9,940,510 | $ | 11,832,089 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Portfolio turnover rate(f) |
39 | % | 38 | % | 29 | % | 23 | % | 17 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
(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) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(f) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
112 |
2 0 2 2 I S H A R E S 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 USD Green Bond ETF | ||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||
Period From | ||||||||||||||||||||||||||||||
Year Ended | Year Ended | Year Ended | 11/13/18 | (a) | ||||||||||||||||||||||||||
10/31/22 | 10/31/21 | 10/31/20 | to 10/31/19 | |||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 54.46 | $ | 55.61 | $ | 55.00 | $ | 50.00 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net investment income(b) |
1.06 | 0.30 | 0.49 | 0.77 | ||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(c) |
(9.49 | ) | (1.29 | ) | 2.10 | 5.19 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net increase (decrease) from investment operations |
(8.43 | ) | (0.99 | ) | 2.59 | 5.96 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Distributions(d) |
||||||||||||||||||||||||||||||
From net investment income |
(1.25 | ) | (0.16 | ) | (1.64 | ) | (0.96 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
From net realized gain |
— | — | (0.34 | ) | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total distributions |
(1.25 | ) | (0.16 | ) | (1.98 | ) | (0.96 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net asset value, end of period |
$ | 44.78 | $ | 54.46 | $ | 55.61 | $ | 55.00 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total Return(e) |
||||||||||||||||||||||||||||||
Based on net asset value |
(15.69 | )% | (1.82 | )% | 4.89 | %(f) | 11.99 | %(g) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Ratios to Average Net Assets(h) |
||||||||||||||||||||||||||||||
Total expenses |
0.21 | % | 0.25 | % | 0.25 | % | 0.25 | %(i) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Total expenses after fees waived |
0.12 | % | 0.20 | % | 0.20 | % | 0.20 | %(i) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net investment income |
2.13 | % | 0.55 | % | 0.90 | % | 1.51 | %(i) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 279,846 | $ | 236,907 | $ | 133,471 | $ | 33,001 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Portfolio turnover rate(j) |
94 | % | 24 | % | 16 | % | 21 | % | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
(a) |
Commencement of operations. |
(b) |
Based on average shares outstanding. |
(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) |
Includes payment received from an affiliate, which had no impact on the Fund’s total return. |
(g) |
Not annualized. |
(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 |
113 |
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 |
|||
0-5 Year Investment Grade Corporate Bond |
Diversified | |||
Aaa - A Rated Corporate Bond |
Diversified | |||
BB Rated Corporate Bond |
Diversified | |||
Convertible Bond |
Diversified | |||
Floating Rate Bond |
Diversified | |||
USD Green Bond(a) |
Diversified | (b) |
(a) |
Formerly the iShares Global Green Bond ETF. |
(b) |
The Fund’s classification changed from non-diversified to diversified during the reporting period. |
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. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis. For convertible securities, premiums attributable to the debt instrument are amortized, but premiums attributable to the conversion feature are not amortized.
Foreign Currency Translation: 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.
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. The character and timing of distributions are determined in accordance with U.S. federal income tax regulations, which may differ from U.S. GAAP.
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.
114 |
2 0 2 2 I S H A R E S 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 (continued)
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. |
• |
Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value. |
• |
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 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
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 |
115 |
Notes to Financial Statements (continued)
determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.
4. |
SECURITIES AND OTHER INVESTMENTS |
Zero-Coupon Bonds: Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.
Securities Lending: Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.
As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund’s Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.
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 | ||||||
|
||||||||||||||||
0-5 Year Investment Grade Corporate Bond |
||||||||||||||||
Barclays Bank PLC |
$ | 14,087,739 | $ | (14,087,739 | ) | $ | — | $ | — | |||||||
BMO Capital Markets Corp. |
5,721,517 | (5,721,517 | ) | — | — | |||||||||||
BNP Paribas SA |
33,041,685 | (33,041,685 | ) | — | — | |||||||||||
BofA Securities, Inc. |
16,192,904 | (16,192,904 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. |
3,737,071 | (3,737,071 | ) | — | — | |||||||||||
Credit Suisse Securities (USA) LLC |
1,417,960 | (1,417,960 | ) | — | — | |||||||||||
Deutsche Bank Securities, Inc. |
9,740,944 | (9,740,944 | ) | — | — | |||||||||||
Goldman Sachs & Co. LLC |
38,365,120 | (38,365,120 | ) | — | — | |||||||||||
HSBC Securities (USA), Inc. |
3,854,327 | (3,854,327 | ) | — | — | |||||||||||
J.P. Morgan Securities LLC |
44,619,397 | (44,619,397 | ) | — | — | |||||||||||
Jefferies LLC |
1,445,295 | (1,445,295 | ) | — | — | |||||||||||
Morgan Stanley |
25,431,373 | (25,431,373 | ) | — | — | |||||||||||
Nomura Securities International, Inc. |
1,541,897 | (1,541,897 | ) | — | — | |||||||||||
Pershing LLC |
2,317,029 | (2,317,029 | ) | — | — | |||||||||||
Scotia Capital (USA), Inc. |
1,355,277 | (1,355,277 | ) | — | — | |||||||||||
State Street Bank & Trust Co. |
1,753,544 | (1,753,544 | ) | — | — | |||||||||||
TD Securities (USA) LLC |
2,002,288 | (2,002,288 | ) | — | — | |||||||||||
Toronto-Dominion Bank |
3,234,803 | (3,234,803 | ) | — | — | |||||||||||
Wells Fargo Bank N.A. |
428,293 | (428,293 | ) | — | — | |||||||||||
Wells Fargo Securities LLC |
3,115,434 | (3,115,434 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 213,403,897 | $ | (213,403,897 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
116 |
2 0 2 2 I S H A R E S 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 (continued)
|
||||||||||||||||
iShares ETF and Counterparty |
|
Securities Loaned at Value |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received, at Fair Value |
(a) |
Net Amount | ||||||
|
||||||||||||||||
Aaa - A Rated Corporate Bond |
||||||||||||||||
Barclays Bank PLC |
$ | 3,513,934 | $ | (3,513,934 | ) | $ | — | $ | — | |||||||
Barclays Capital, Inc. |
1,233,668 | (1,233,668 | ) | — | — | |||||||||||
BMO Capital Markets Corp. |
1,800,466 | (1,800,466 | ) | — | — | |||||||||||
BNP Paribas SA |
9,622,852 | (9,622,852 | ) | — | — | |||||||||||
BofA Securities, Inc. |
4,880,721 | (4,880,721 | ) | — | — | |||||||||||
Citadel Clearing LLC |
365,127 | (365,127 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. |
2,292,062 | (2,292,062 | ) | — | — | |||||||||||
Credit Suisse Securities (USA) LLC |
221,979 | (221,979 | ) | — | — | |||||||||||
Deutsche Bank Securities, Inc. |
2,418,428 | (2,418,428 | ) | — | — | |||||||||||
HSBC Securities (USA), Inc. |
676,018 | (676,018 | ) | — | — | |||||||||||
J.P. Morgan Securities LLC |
8,973,058 | (8,973,058 | ) | — | — | |||||||||||
Jefferies LLC |
115,479 | (115,479 | ) | — | — | |||||||||||
Morgan Stanley |
5,797,632 | (5,797,632 | ) | — | — | |||||||||||
Nomura Securities International, Inc. |
690,893 | (690,893 | ) | — | — | |||||||||||
Pershing LLC |
1,087,752 | (1,087,752 | ) | — | — | |||||||||||
RBC Capital Markets LLC |
8,272,721 | (8,272,721 | ) | — | — | |||||||||||
Scotia Capital (USA), Inc. |
944,876 | (944,876 | ) | — | — | |||||||||||
TD Securities (USA) LLC |
772,209 | (772,209 | ) | — | — | |||||||||||
Toronto-Dominion Bank |
13,337 | (13,337 | ) | — | — | |||||||||||
UBS AG |
486 | (486 | ) | — | — | |||||||||||
Wells Fargo Bank N.A. |
393,143 | (393,143 | ) | — | — | |||||||||||
Wells Fargo Securities LLC |
3,032,078 | (3,032,078 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 57,118,919 | $ | (57,118,919 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
|||||||||
BB Rated Corporate Bond |
||||||||||||||||
Barclays Bank PLC |
$ | 2,461,347 | $ | (2,461,347 | ) | $ | — | $ | — | |||||||
Barclays Capital, Inc. |
1,625,206 | (1,625,206 | ) | — | — | |||||||||||
BMO Capital Markets Corp. |
329,574 | (329,574 | ) | — | — | |||||||||||
BNP Paribas SA |
7,644,476 | (7,644,476 | ) | — | — | |||||||||||
BofA Securities, Inc. |
2,548,073 | (2,548,073 | ) | — | — | |||||||||||
Citadel Clearing LLC |
410,545 | (410,545 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. |
57,151 | (57,151 | ) | — | — | |||||||||||
Credit Suisse Securities (USA) LLC |
721,185 | (721,185 | ) | — | — | |||||||||||
J.P. Morgan Securities LLC |
8,673,304 | (8,673,304 | ) | — | — | |||||||||||
Jefferies LLC |
374,183 | (374,183 | ) | — | — | |||||||||||
Nomura Securities International, Inc. |
103,614 | (103,614 | ) | — | — | |||||||||||
Pershing LLC |
204,125 | (204,125 | ) | — | — | |||||||||||
Scotia Capital (USA), Inc. |
1,626,046 | (1,626,046 | ) | — | — | |||||||||||
State Street Bank & Trust Co. |
1,687,753 | (1,687,753 | ) | — | — | |||||||||||
Toronto-Dominion Bank |
161,807 | (161,807 | ) | — | — | |||||||||||
UBS Securities LLC |
24,940 | (24,940 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 28,653,329 | $ | (28,653,329 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Convertible Bond |
||||||||||||||||
Wells Fargo Bank N.A. |
$ | 307,262 | $ | (307,262 | ) | $ | — | $ | — | |||||||
|
|
|
|
|
|
|
|
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 |
117 |
Notes to Financial Statements (continued)
|
||||||||||||||||
iShares ETF and Counterparty |
|
Securities Loaned at Value |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received, at Fair Value |
(a) |
Net Amount | ||||||
|
||||||||||||||||
Floating Rate Bond |
||||||||||||||||
Barclays Bank PLC |
$ | 8,550,618 | $ | (8,550,618 | ) | $ | — | $ | — | |||||||
Barclays Capital, Inc. |
5,725,385 | (5,725,385 | ) | — | — | |||||||||||
BMO Capital Markets Corp. |
3,447,132 | (3,447,132 | ) | — | — | |||||||||||
BNP Paribas SA |
197,208 | (197,208 | ) | — | — | |||||||||||
BofA Securities, Inc. |
7,770,798 | (7,770,798 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. |
995,140 | (995,140 | ) | — | — | |||||||||||
Credit Suisse Securities (USA) LLC |
11,595,967 | (11,595,967 | ) | — | — | |||||||||||
Goldman Sachs & Co. LLC |
8,667,653 | (8,667,653 | ) | — | — | |||||||||||
HSBC Securities (USA), Inc. |
1,101,990 | (1,101,990 | ) | — | — | |||||||||||
J.P. Morgan Securities LLC |
49,026,563 | (49,026,563 | ) | — | — | |||||||||||
Mitsubishi UFJ Securities Holdings Co., Ltd. |
20,258,355 | (20,258,355 | ) | — | — | |||||||||||
Morgan Stanley |
37,644,349 | (37,644,349 | ) | — | — | |||||||||||
Nomura Securities International, Inc. |
20,816,302 | (20,816,302 | ) | — | — | |||||||||||
Pershing LLC |
2,040,408 | (2,040,408 | ) | — | — | |||||||||||
RBC Capital Markets LLC |
28,025,442 | (28,025,442 | ) | — | — | |||||||||||
TD Securities (USA) LLC |
499,430 | (499,430 | ) | — | — | |||||||||||
Toronto-Dominion Bank |
496,975 | (496,975 | ) | — | — | |||||||||||
Wells Fargo Securities LLC |
5,249,790 | (5,249,790 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 212,109,505 | $ | (212,109,505 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
|||||||||
USD Green Bond |
||||||||||||||||
Barclays Capital, Inc. |
$ | 6,687,537 | $ | (6,687,537 | ) | $ | — | $ | — | |||||||
BMO Capital Markets Corp. |
226,139 | (226,139 | ) | — | — | |||||||||||
BNP Paribas SA |
178,914 | (178,914 | ) | — | — | |||||||||||
BofA Securities, Inc. |
1,552,302 | (1,552,302 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. |
804,962 | (804,962 | ) | — | — | |||||||||||
J.P. Morgan Securities LLC |
4,571,884 | (4,571,884 | ) | — | — | |||||||||||
Jefferies LLC |
862,561 | (862,561 | ) | — | — | |||||||||||
Morgan Stanley |
208,640 | (208,640 | ) | — | — | |||||||||||
Pershing LLC |
239,321 | (239,321 | ) | — | — | |||||||||||
RBC Capital Markets LLC |
654,266 | (654,266 | ) | — | — | |||||||||||
State Street Bank & Trust Co. |
280,258 | (280,258 | ) | — | — | |||||||||||
TD Securities (USA) LLC |
2,361,563 | (2,361,563 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 18,628,347 | $ | (18,628,347 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
(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 Funds’ 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
118 |
2 0 2 2 I S H A R E S 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 (continued)
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.
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, BFAis entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:
iShares ETF | Investment Advisory Fees | |||
0-5 Year Investment Grade Corporate Bond |
0.06 | % | ||
Aaa - A Rated Corporate Bond |
0.15 | |||
BB Rated Corporate Bond |
0.25 | |||
Convertible Bond |
0.20 | |||
Floating Rate Bond |
0.15 | |||
USD Green Bond |
0.20 |
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 |
119 |
Notes to Financial Statements (continued)
Effective December 15, 2021, for its investment advisory services to the iShares USD Green Bond ETF, BFA is entitled to an annual investment advisory fee of 0.20%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund. Prior to December 15, 2021, BFA was entitled to an annual investment advisory fee of 0.25%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.
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 USD Green Bond ETF, BFA had contractually agreed to waive a portion of its investment advisory fee through March 1, 2022 in order to limit the Fund’s total annual operating expenses after fee waiver to 0.20% of average daily net assets. The contractual waiver was discontinued on December 15, 2021.
This amount is included in investment advisory fees waived in the Statements of Operations. For the year ended October 31, 2022, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:
iShares ETF | Amounts Waived | |||
USD Green Bond |
$ | 15,224 |
BFA may from time to time voluntarily waive and/or reimburse fees or expenses in order to limit total annual fund operating expenses (excluding acquired fund fees and expenses, if any). For the iShares BB Rated Corporate Bond ETF, BFA has elected to implement a voluntary fee waiver at an annual rate of 0.10% and currently intends to keep such voluntary fee waiver for the Fund through October 31, 2023. Effective March 8, 2022, for the iShares USD Green Bond ETF, BFA has elected to implement a voluntary fee waiver at an annual rate of 0.12% and currently intends to keep such voluntary fee waiver for the Fund in place for a one-year period through March 8, 2023. Any voluntary waiver or reimbursement implemented by BFA may be eliminated by BFA at any time.
These amounts are included in investment advisory fees waived in the Statements of Operations. For the year ended October 31, 2022, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:
iShares ETF | Amounts Waived | |||
BB Rated Corporate Bond |
$ | 142,709 | ||
USD Green Bond |
211,527 |
Sub-Adviser: BFA has entered into separate sub-advisory agreements with BlackRock International Limited and BlackRock (Singapore) Limited (together the “Sub-Advisers”), both affiliates of BFA, under which BFA pays each of the Sub-Advisers for services it provides to the iShares USD Green Bond ETF. Effective March 4, 2022, the sub-advisory agreement between BFA and BlackRock (Singapore) Limited was terminated.
Distributor: BlackRock Investments, LLC, 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.
120 |
2 0 2 2 I S H A R E S 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 (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 year ended October 31, 2022, the Funds paid BTC the following amounts for securities lending agent services:
iShares ETF | Amounts | |||
0-5 Year Investment Grade Corporate Bond |
$ | 133,851 | ||
Aaa - A Rated Corporate Bond |
70,428 | |||
BB Rated Corporate Bond |
16,854 | |||
Convertible Bond |
380 | |||
Floating Rate Bond |
288,695 | |||
USD Green Bond |
15,744 |
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 year ended October 31, 2022, 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) |
|||||||||
0-5 Year Investment Grade Corporate Bond |
$ | 23,884,649 | $ | 3,944,405 | $ | (319,362 | ) | |||||
Aaa - A Rated Corporate Bond |
144,435 | — | — | |||||||||
BB Rated Corporate Bond |
176,689 | 4,703,726 | (216,405 | ) | ||||||||
USD Green Bond |
196,063 | 603,361 | (547,026 | ) |
Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.
A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund’s underlying index.
7. |
PURCHASES AND SALES |
For the year ended October 31, 2022, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:
iShares ETF | Purchases | Sales | ||||||
0-5 Year Investment Grade Corporate Bond |
$ | 592,003,846 | $ | 550,221,559 | ||||
Aaa - A Rated Corporate Bond |
176,213,102 | 164,088,218 | ||||||
BB Rated Corporate Bond |
33,706,689 | 34,039,675 | ||||||
Convertible Bond |
287,088,904 | 310,274,228 | ||||||
Floating Rate Bond |
3,434,128,478 | 3,207,310,032 | ||||||
USD Green Bond |
259,738,710 | 252,883,429 |
For the year ended October 31, 2022, in-kind transactions were as follows:
iShares ETF |
In-kind Purchases |
In-kind Sales |
||||||
0-5 Year Investment Grade Corporate Bond |
$ | 1,216,886,438 | $ | 538,818,158 | ||||
Aaa - A Rated Corporate Bond |
547,407,178 | 699,687,336 | ||||||
BB Rated Corporate Bond |
281,861,734 | 29,873,158 | ||||||
Convertible Bond |
1,251,175,763 | 788,284,741 | ||||||
Floating Rate Bond |
2,866,587,085 | 842,023,526 | ||||||
USD Green Bond |
94,012,826 | — |
8. |
INCOME TAX INFORMATION |
Each Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.
Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2022, 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.
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 |
121 |
Notes to Financial Statements (continued)
U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2022, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:
iShares ETF | Paid-in Capital |
Accumulated Earnings (Loss) |
||||||
0-5 Year Investment Grade Corporate Bond |
$ | (5,225,891 | ) | $ | 5,225,891 | |||
Aaa - A Rated Corporate Bond |
(72,849,211 | ) | 72,849,211 | |||||
BB Rated Corporate Bond |
(1,351,564 | ) | 1,351,564 | |||||
Convertible Bond |
56,698,706 | (56,698,706 | ) | |||||
Floating Rate Bond |
(4,458,598 | ) | 4,458,598 |
The tax character of distributions paid was as follows:
|
||||||||
iShares ETF |
Year Ended 10/31/22 |
Year Ended 10/31/21 |
||||||
|
||||||||
0-5 Year Investment Grade Corporate Bond |
||||||||
Ordinary income |
$ | 43,850,920 | $ | 38,680,174 | ||||
Long-term capital gains |
3,170,676 | 308,455 | ||||||
|
|
|
|
|||||
$ | 47,021,596 | $ | 38,988,629 | |||||
|
|
|
|
|||||
Aaa - A Rated Corporate Bond |
||||||||
Ordinary income |
$ | 25,462,884 | $ | 26,862,436 | ||||
|
|
|
|
|||||
BB Rated Corporate Bond |
||||||||
Ordinary income |
$ | 6,590,214 | $ | 4,026,444 | ||||
Long-term capital gains |
10,294 | — | ||||||
|
|
|
|
|||||
$ | 6,600,508 | $ | 4,026,444 | |||||
|
|
|
|
|||||
Convertible Bond |
||||||||
Ordinary income |
$ | 57,140,640 | $ | 26,673,704 | ||||
Long-term capital gains |
75,045,375 | 21,371,643 | ||||||
|
|
|
|
|||||
$ | 132,186,015 | $ | 48,045,347 | |||||
|
|
|
|
|||||
Floating Rate Bond |
||||||||
Ordinary income |
$ | 95,055,574 | $ | 28,120,691 | ||||
|
|
|
|
|||||
USD Green Bond |
||||||||
Ordinary income |
$ | 6,645,338 | $ | 384,864 | ||||
|
|
|
|
As of October 31, 2022, the tax components of accumulated net earnings (losses) were as follows:
iShares ETF | |
Undistributed Ordinary Income |
|
|
Non-expiring Capital Loss Carryforwards |
(a) |
|
Net Unrealized Gains (Losses) |
(b) |
Total | ||||||
0-5 Year Investment Grade Corporate Bond |
$ | 6,321,842 | $ | (6,882,478 | ) | $ | (201,632,186 | ) | $ | (202,192,822 | ) | |||||
Aaa - A Rated Corporate Bond |
2,167,026 | (10,700,298 | ) | (169,859,753 | ) | (178,393,025 | ) | |||||||||
BB Rated Corporate Bond |
1,318,373 | (1,791,917 | ) | (17,221,391 | ) | (17,694,935 | ) | |||||||||
Convertible Bond |
7,325,957 | (52,953,224 | ) | (389,882,388 | ) | (435,509,655 | ) | |||||||||
Floating Rate Bond |
36,549,602 | (75,073,119 | ) | (84,423,362 | ) | (122,946,879 | ) | |||||||||
USD Green Bond |
912,376 | (16,105,976 | ) | (37,956,905 | ) | (53,150,505 | ) |
(a) |
Amounts available to offset future realized capital gains. |
(b) |
The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, amortization methods for premiums and discounts on fixed income securities and dividends deemed recognized for tax purposes. |
122 |
2 0 2 2 I S H A R E S 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 (continued)
As of October 31, 2022, 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) |
||||||||||||
0-5 Year Investment Grade Corporate Bond |
$ | 3,399,115,069 | $ | 2,355,412 | $ | (203,987,598 | ) | $ | (201,632,186 | ) | ||||||
Aaa - A Rated Corporate Bond |
990,786,157 | 469,558 | (170,329,311 | ) | (169,859,753 | ) | ||||||||||
BB Rated Corporate Bond |
373,052,461 | 438,999 | (17,660,389 | ) | (17,221,390 | ) | ||||||||||
Convertible Bond |
2,222,841,132 | 40,178,214 | (430,060,602 | ) | (389,882,388 | ) | ||||||||||
Floating Rate Bond |
9,479,644,424 | 1,729,510 | (86,152,872 | ) | (84,423,362 | ) | ||||||||||
USD Green Bond |
337,805,996 | 47,334 | (38,003,897 | ) | (37,956,563 | ) |
9. |
PRINCIPAL RISKS |
In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund’s prospectus provides details of the risks to which the Fund is subject.
BFA uses a “passive” or index approach to try to achieve each Fund’s investment objective following the securities included in its underlying index during upturns as well as downturns. BFA does not take steps to reduce market exposure or to lessen the effects of a declining market. Divergence from the underlying index and the composition of the portfolio is monitored by BFA.
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.
Market Risk: Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund’s portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio’s current earnings rate.
Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest or otherwise affect the value of such securities. Municipal securities can be significantly affected by political or economic changes, including changes made in the law after issuance of the securities, as well as uncertainties in the municipal market related to, taxation, legislative changes or the rights of municipal security holders, including in connection with an issuer insolvency. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the tax benefits supporting the project or assets or the inability to collect revenues for the project or from the assets. Municipal securities may be less liquid than taxable bonds, and there may be less publicly available information on the financial condition of municipal security issuers than for issuers of other securities.
An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. Although vaccines have been developed and approved for use by various governments, the duration of this pandemic and its effects cannot be determined with certainty.
Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund’s NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.
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
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 |
123 |
Notes to Financial Statements (continued)
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.
Concentration 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 Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds’ investments.
Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund’s portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.
Certain Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as “junk bonds”) or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.
The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates due to the current period of historically low interest rates. The Federal Reserve has recently begun to raise the federal funds rate as part of its efforts to address inflation. There is a risk that interest rates will continue to rise, which will likely drive down the prices of bonds and other fixed-income securities, and could negatively impact the Funds’ performance.
Significant Shareholder Redemption Risk: Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund’s NAV, increase the fund’s brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.
LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”). Although many LIBOR rates ceased to be published or no longer are representative of the underlying market they seek to measure after December 31, 2021, a selection of widely used USD LIBOR rates will continue to be published through June 2023 in order to assist with the transition. The Funds may be exposed to financial instruments tied to LIBOR to determine payment obligations, financing terms, hedging strategies or investment value. The transition process away from LIBOR might lead to increased volatility and illiquidity in markets for, and reduce the effectiveness of new hedges placed against instruments whose terms currently include LIBOR. The ultimate effect of the LIBOR transition process on the Funds is uncertain.
10. |
CAPITAL SHARE TRANSACTIONS |
Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.
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2 0 2 2 I S H A R E S 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 (continued)
Transactions in capital shares were as follows:
|
||||||||||||||||
Year Ended 10/31/22 |
Year Ended 10/31/21 |
|||||||||||||||
|
|
|
|
|||||||||||||
iShares ETF | Shares | Amount | Shares | Amount | ||||||||||||
|
||||||||||||||||
0-5 Year Investment Grade Corporate Bond |
||||||||||||||||
Shares sold |
25,450,000 | $ | 1,245,637,685 | 20,500,000 | $ | 1,062,825,693 | ||||||||||
Shares redeemed |
(11,200,000 | ) | (557,621,546 | ) | (11,050,000 | ) | (572,040,001 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
14,250,000 | $ | 688,016,139 | 9,450,000 | $ | 490,785,692 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Aaa - A Rated Corporate Bond |
||||||||||||||||
Shares sold |
11,250,000 | $ | 559,589,549 | 6,650,000 | $ | 378,876,822 | ||||||||||
Shares redeemed |
(14,950,000 | ) | (715,166,498 | ) | (11,500,000 | ) | (652,850,617 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
(3,700,000 | ) | $ | (155,576,949 | ) | (4,850,000 | ) | $ | (273,973,795 | ) | |||||||
|
|
|
|
|
|
|
|
|||||||||
BB Rated Corporate Bond |
||||||||||||||||
Shares sold |
6,350,000 | $ | 287,526,706 | 1,500,000 | $ | 77,463,262 | ||||||||||
Shares redeemed |
(650,000 | ) | (30,777,808 | ) | (1,150,000 | ) | (59,877,145 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
5,700,000 | $ | 256,748,898 | 350,000 | $ | 17,586,117 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Convertible Bond |
||||||||||||||||
Shares sold |
17,350,000 | $ | 1,320,324,630 | 14,850,000 | $ | 1,483,986,664 | ||||||||||
Shares redeemed |
(10,050,000 | ) | (806,767,555 | ) | (6,750,000 | ) | (663,473,631 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
7,300,000 | $ | 513,557,075 | 8,100,000 | $ | 820,513,033 | |||||||||||
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|
|
|
|||||||||
Floating Rate Bond |
||||||||||||||||
Shares sold |
61,800,000 | $ | 3,125,726,196 | 39,500,000 | $ | 2,005,059,788 | ||||||||||
Shares redeemed |
(17,400,000 | ) | (874,654,600 | ) | (11,800,000 | ) | (598,696,744 | ) | ||||||||
|
|
|
|
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|
|
|||||||||
44,400,000 | $ | 2,251,071,596 | 27,700,000 | $ | 1,406,363,044 | |||||||||||
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|
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|
|||||||||
USD Green Bond |
||||||||||||||||
Shares sold |
1,900,000 | $ | 95,766,234 | 1,950,000 | $ | 108,214,385 | ||||||||||
|
|
|
|
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|
|
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. Investors 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. Investors 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.
11. |
SUBSEQUENT EVENTS |
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.
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 |
125 |
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of
iShares Trust and Shareholders of each of the six funds listed in the table below
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (six of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of October 31, 2022, the related statements of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2022 and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.
iShares
iShares 0-5 Year Investment Grade Corporate Bond ETF
iShares Aaa - A Rated Corporate Bond ETF
iShares BB Rated Corporate Bond ETF
iShares Convertible Bond ETF
iShares Floating Rate Bond ETF
iShares USD Green Bond ETF
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
December 22, 2022
We have served as the auditor of one or more BlackRock investment companies since 2000.
126 |
2 0 2 2 I S H A R E S 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 |
Important Tax Information (unaudited) |
The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended October 31, 2022:
iShares ETF |
Qualified Dividend Income |
|||
Convertible Bond |
$ | 3,452,876 |
The Fund hereby designates the following amounts, or maximum amounts allowable by law, as capital gain dividends, subject to a long-term capital gains tax rate as noted below, for the fiscal year ended October 31, 2022:
iShares ETF |
20% Rate Long-Term Capital Gain Dividends |
|||
0-5 Year Investment Grade Corporate Bond |
$ | 3,170,676 | ||
BB Rated Corporate Bond |
10,294 | |||
Convertible Bond |
75,045,375 |
The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned for the fiscal year ended October 31, 2022:
iShares ETF |
Foreign Source Income Earned |
|||
USD Green Bond |
$ | 3,189,715 |
The Funds hereby designates the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended October 31, 2022:
iShares ETF |
Federal Obligation Interest |
|||
0-5 Year Investment Grade Corporate Bond |
$ | 2,016 | ||
Aaa - A Rated Corporate Bond |
612 | |||
BB Rated Corporate Bond |
504 | |||
Convertible Bond |
1,694 | |||
Floating Rate Bond |
35,671 | |||
USD Green Bond |
234 |
The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.
The following percentage, or maximum percentage allowable by law, of ordinary income distributions paid during the fiscal year ended October 31, 2022 qualified for the dividends-received deduction for corporate shareholders:
iShares ETF |
Dividends-Received Deduction |
|||
Convertible Bond |
11.84 | % |
The Funds hereby designates the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2022:
iShares ETF | Interest Dividends | |||
0-5 Year Investment Grade Corporate Bond |
$ | 44,182,049 | ||
Aaa - A Rated Corporate Bond |
24,871,669 | |||
BB Rated Corporate Bond |
6,599,315 | |||
Convertible Bond |
26,635,576 | |||
Floating Rate Bond |
114,495,776 | |||
USD Green Bond |
5,262,066 |
I M P O R T A N T T A X I N F O R M A T I O N |
127 |
Important Tax Information (unaudited) (continued) |
The Funds hereby designates the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2022:
iShares ETF |
Interest-Related Dividends | |||
0-5 Year Investment Grade Corporate Bond |
$38,485,214 | |||
Aaa - A Rated Corporate Bond |
21,491,250 | |||
BB Rated Corporate Bond |
6,477,858 | |||
Convertible Bond |
26,635,576 | |||
Floating Rate Bond |
71,403,591 | |||
USD Green Bond |
2,595,716 |
128 |
2 0 2 2 I S H A R E S 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 |
Board Review and Approval of Investment Advisory Contract
iShares 0-5Year Investment Grade Corporate Bond ETF, iShares Aaa - A Rated Corporate Bond ETF, iShares BB Rated Corporate Bond ETF, iShares Convertible Bond ETF (each the “Fund”)
Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.
After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.
Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.
In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, provided at the May 3, 2022 meeting and throughout the year, and matters related to BFA’s portfolio compliance program.
Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
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Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).
Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.
The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U. S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.
The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.
The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.
Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.
Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.
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iShares Floating Rate Bond ETF (the “Fund”)
Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.
After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.
Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.
In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, provided at the May 3, 2022 meeting and throughout the year, and matters related to BFA’s portfolio compliance program.
Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA
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and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).
Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.
The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.
The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.
The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.
Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.
Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.
iShares USD Green Bond ETF (the “Fund”)
Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the
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Board Review and Approval of Investment Advisory Contract (continued)
Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”), and the Sub-Advisory Agreement between BFA and BlackRock International Limited, (together the Advisory Agreements”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreements. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.
After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreements for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreements for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA and BlackRock International Limited; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreements are discussed below.
Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rate and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds. The Board further noted that BFA pays BlackRock International Limited for sub-advisory services, and that there are no additional fees imposed on the Fund in respect of the services provided under the Sub-Advisory Agreement(s).
In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreements for the coming year.
Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA and BlackRock International Limited under the Advisory Agreements for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, including those of the Sub-Advisor(s), as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding investment performance, investment and risk management processes and strategies for BFA and BlackRock International Limited, which were provided at the May 3, 2022 meeting and throughout the year and matters related to BFA’s portfolio compliance program.
Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreements supported the Board’s approval of the continuance of the Advisory Agreements for the coming year.
Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA
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and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).
Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreements and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreements for the coming year.
Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.
The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreements for the coming year.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.
The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.
The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.
Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreements for the coming year.
Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreements for the coming year.
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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.
October 31, 2022
Total Cumulative Distributions for the Fiscal Year |
% Breakdown of the Total Cumulative Distributions for the Fiscal Year |
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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 |
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0-5 Year Investment Grade Corporate Bond |
$ | 0.818518 | $ | 0.069093 | $ | — | $ | 0.887611 | 92 | % | 8 | % | — | % | 100 | % | ||||||||||||||||
Aaa - A Rated Corporate Bond |
1.195701 | — | — | 1.195701 | 100 | — | — | 100 | ||||||||||||||||||||||||
BB Rated Corporate Bond(a) |
2.119198 | 0.161986 | 0.000013 | 2.281197 | 93 | 7 | 0 | (b) | 100 | |||||||||||||||||||||||
Convertible Bond |
1.298892 | 5.851040 | — | 7.149932 | 18 | 82 | — | 100 | ||||||||||||||||||||||||
Floating Rate Bond |
0.524591 | — | — | 0.524591 | 100 | — | — | 100 | ||||||||||||||||||||||||
USD Green Bond |
1.250009 | — | — | 1.250009 | 100 | — | — | 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%. |
Premium/Discount Information
Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.
S U P P L E M E N T A L I N F O R M A T I O N |
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Trustee and Officer Information (unaudited)
The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by BFA and other service providers. Each Trustee serves until he or she resigns, is removed, dies, retires or becomes incapacitated. Each officer shall hold office until his or her successor is elected and qualifies or until his or her death, resignation or removal. Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust are referred to as independent trustees (“Independent Trustees”).
The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 379 funds as of October 31, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).
Interested Trustees | ||||||
Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years |
Other Directorships Held by Trustee | |||
Robert S. Kapito(a) (65) |
Trustee (since 2009). | President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Salim Ramji(b) (52) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
(a) |
Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
(b) |
Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Independent Trustees | ||||||
Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years |
Other Directorships Held by Trustee | |||
John E. Kerrigan (67) | Trustee (since 2005); Independent Board Chair (since 2022). | Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2022). | |||
Jane D. Carlin (66) | Trustee (since 2015); Risk Committee Chair (since 2016). | Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard L. Fagnani (67) | Trustee (since 2017); Audit Committee Chair (since 2019). | Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). |
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Trustee and Officer Information (unaudited) (continued)
Independent Trustees (continued) | ||||||
Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years |
Other Directorships Held by Trustee | |||
Cecilia H. Herbert (73) | Trustee (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2022). | Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York’s public media company (since 2011) and Member of the Audit Committee (since 2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher School; Director of the Senior Center of Jackson Hole (since 2020). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Drew E. Lawton (63) | Trustee (since 2017); 15(c) Committee Chair (since 2017). | Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John E. Martinez (61) | Trustee (since 2003); Securities Lending Committee Chair (since 2019). | Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Madhav V. Rajan (58) | Trustee (since 2011); Fixed-Income Plus Committee Chair (since 2019). | Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Director of iShares, Inc. (since 2011); Trustee of iShares U.S. ETF Trust (since 2011). |
Officers | ||||
Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years | ||
Armando Senra (51) | President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent Walker (48) | Treasurer and Chief Financial Officer (since 2020). | Managing Director, BlackRock, Inc. (since September 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. | ||
Charles Park (55) | Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the BlackRock Multi-Asset Complex and the BlackRock Fixed-Income Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Marisa Rolland (42) | Secretary (since 2022). | Director, BlackRock, Inc. (since 2018); Vice President, BlackRock, Inc. (2010-2017). | ||
Rachel Aguirre (40) | Executive Vice President (since 2022). | Managing Director, BlackRock, Inc. (since 2018); Director, BlackRock, Inc. (2009-2018); Head of U.S. iShares Product (since 2022); Head of EII U.S. Product Engineering (since 2021); Co-Head of EII’s Americas Portfolio Engineering (2020-2021); Head of Developed Markets Portfolio Engineering (2016-2019). | ||
Jennifer Hsui (46) | Executive Vice President (since 2022). | Managing Director, BlackRock, Inc. (since 2009); Co-Head of Index Equity (since 2022). | ||
James Mauro (52) | Executive Vice President (since 2022). | Managing Director, BlackRock, Inc. (since 2010); Head of Fixed Income Index Investments in the Americas and Head of San Francisco Core Portfolio Management (since 2020). |
T R U S T E E A N D O F F I C E R I N F O R M A T I O N |
137 |
Trustee and Officer Information (unaudited) (continued)
Effective March 18, 2022, Rachel Aguirre, Jennifer Hsui, and James Mauro have replaced Scott Radell, Alan Mason, and Marybeth Leithead as Executive Vice Presidents.
Effective June 15, 2022, Marisa Rolland replaced Deepa Damre Smith as Secretary.
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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 |
139 |
Glossary of Terms Used in this Report
Portfolio Abbreviation | ||
AGM | Assured Guaranty Municipal Corp. | |
CMT | Constant Maturity Treasury | |
LIBOR | London Interbank Offered Rate | |
PIK | Payment-in-kind | |
PJSC | Public Joint Stock Company | |
RB | Revenue Bond | |
REIT | Real Estate Investment Trust | |
SOFR | Secured Overnight Financing Rate |
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Want to know more?
iShares.com | 1-800-474-2737
This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.
Investing involves risk, including possible loss of principal.
The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).
The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg Index Services Limited, ICE Data Indices, LLC, or Markit Indices Limited, nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.
©2022 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.
iS-AR-1004-1022
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