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FEBRUARY 28, 2022 |
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2022 Semi-Annual Report (Unaudited)
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iShares Trust
· iShares ESG Aware MSCI EAFE ETF | ESGD | NASDAQ
· iShares ESG Aware MSCI USA ETF | ESGU | NASDAQ
· iShares ESG Aware MSCI USA Small-Cap ETF | ESML | Cboe BZX
· iShares ESG MSCI EM Leaders ETF | LDEM | NASDAQ
· iShares ESG MSCI USA Leaders ETF | SUSL | NASDAQ
· iShares MSCI Global Sustainable Development Goals ETF | SDG | NASDAQ
· iShares Paris-Aligned Climate MSCI USA ETF | PABU | NASDAQ
Dear Shareholder,
The 12-month reporting period as of February 28, 2022 saw a continuation of the resurgent growth that followed the initial coronavirus (or “COVID-19”) pandemic reopening, albeit at a slower pace. The global economy weathered the emergence of several variant strains and the resulting peaks and troughs in infections amid optimism that increasing vaccinations and economic adaptation could help contain the pandemic’s disruptions. However, rapid changes in consumer spending led to supply constraints and elevated inflation. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the invasion has presented challenges for both investors and policymakers.
Equity prices were mixed, as persistently high inflation drove investors’ expectations for higher interest rates, which particularly weighed on relatively high valuation growth stocks and economically sensitive small-capitalization stocks. Overall, small-capitalization U.S. stocks declined, while large-capitalization U.S. stocks posted a solid advance. International equities from developed markets gained slightly, although emerging market stocks declined, pressured by rising interest rates and a strengthening U.S. dollar.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) rose during the reporting period as the economy expanded rapidly and inflation reached its highest annualized reading in decades. In the corporate bond market, the improving economy assuaged credit concerns and led to modest returns for high-yield corporate bonds, outpacing the negative return of investment-grade corporate bonds.
The U.S. Federal Reserve (the “Fed”) maintained accommodative monetary policy during the reporting period by keeping near-zero interest rates. However, the Fed’s tone shifted during the period, as it reduced its bond-buying program and raised the prospect of higher rates in 2022. Continued high inflation and the Fed’s new stance led many analysts to anticipate that the Fed will raise interest rates multiple times throughout the year.
Looking ahead, however, the horrific war in Ukraine has significantly clouded the outlook for the global economy. Sanctions on Russia and general wartime disruption are likely to drive already-high commodity prices even further upwards, and we have already seen spikes in energy and metal markets. While this will exacerbate inflationary pressure, it could also constrain economic growth, making the Fed’s way forward less clear. Its challenge will be combating inflation without stifling a recovery that is now facing additional supply shocks.
In this environment, we favor an overweight to equities, as we believe low interest rates and continued economic growth will support further gains, albeit likely more modest than what we saw in 2021. Sectors that are better poised to manage the transition to a lower-carbon world, such as technology and health care, are particularly attractive in the long term. U.S. and other developed market equities have room for further growth, while we believe Chinese equities stand to gain from a more accommodative monetary and fiscal environment. We are underweight long-term credit, but inflation-protected U.S. Treasuries, Asian fixed income, and emerging market local-currency bonds offer potential opportunities. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments.
Overall, our view is that investors need to think globally, extend their scope across a broad array of asset classes, 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.
Sincerely,
Rob Kapito
President, BlackRock, Inc.
Rob Kapito
President, BlackRock, Inc.
| Total Returns as of February 28, 2022 | ||||
| 6-Month | 12-Month | |||
|
U.S.
large cap equities |
(2.62)% | 16.39% | ||
|
U.S.
small cap equities |
(9.46) | (6.01) | ||
|
International
equities |
(6.78) | 2.83 | ||
|
Emerging
market equities |
(9.81) | (10.69) | ||
|
3-month Treasury bills |
0.02 | 0.04 | ||
|
U.S.
Treasury securities |
(3.94) | (1.67) | ||
|
U.S.
investment grade bonds |
(4.07) | (2.64) | ||
|
Tax-exempt municipal
bonds |
(3.09) | (0.66) | ||
|
U.S.
high yield bonds |
(3.07) | 0.64 | ||
| Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. | ||||
| 2 |
T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T |
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Financial Statements |
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| Fund Summary as of February 28, 2022 | iShares® ESG Aware MSCI EAFE ETF |
Investment Objective
The iShares ESG Aware MSCI EAFE ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada that have positive environmental, social and governance characteristics, as identified by the index provider while exhibiting risk and return characteristics similar to those of the parent index, as represented by the MSCI EAFE Extended ESG Focus Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
| 6 Months | 1 Year | 5 Years |
Since Inception |
1 Year | 5 Years |
Since Inception |
||||||||||||||||||||||||||
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Fund NAV |
(7.39 | )% | 2.47 | % | 7.54 | % | 9.19 | % | 2.47 | % | 43.83 | % | 64.65 | % | ||||||||||||||||||
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Fund Market |
(7.65 | ) | 2.31 | 7.47 | 9.14 | 2.31 | 43.38 | 64.27 | ||||||||||||||||||||||||
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Index |
(7.17 | ) | 2.77 | 7.66 | 9.33 | 2.77 | 44.62 | 65.88 | ||||||||||||||||||||||||
The inception date of the Fund was 6/28/16. The first day of secondary market trading was 6/30/16.
Index performance through May 31, 2018 reflects the performance of the MSCI EAFE ESG Focus Index. Index performance beginning on June 1, 2018 reflects the performance of the MSCI EAFE Extended ESG Focus Index.
Past performance is no guarantee 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” on page 11 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||
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Beginning Account Value (09/01/21) |
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Ending Account Value (02/28/22) |
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Expenses Paid During the Period |
(a) |
|
Beginning Account Value (09/01/21) |
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|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 926.10 | $ 0.96 | $ 1,000.00 | $ 1,023.80 | $ 1.00 | 0.20 | % | |||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (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 “Shareholder Expenses” for more information. |
Portfolio Information
| ALLOCATION BY SECTOR | ||||
|
Sector |
|
Percent of Total Investments |
(a) | |
|
Financials |
17.6 | % | ||
|
Industrials |
15.6 | |||
|
Health Care |
12.6 | |||
|
Consumer Discretionary |
11.7 | |||
|
Consumer Staples |
10.4 | |||
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Information Technology |
8.9 | |||
|
Materials |
8.0 | |||
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Communication Services |
4.7 | |||
|
Energy |
4.4 | |||
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Utilities |
3.1 | |||
|
Real Estate |
3.0 | |||
| TEN LARGEST GEOGRAPHIC ALLOCATION |
| |||
|
Country/Geographic Region |
|
Percent of Total Investments |
(a) | |
|
Japan |
22.7 | % | ||
|
United Kingdom |
14.3 | |||
|
France |
10.8 | |||
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Switzerland |
10.6 | |||
|
Australia |
8.2 | |||
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Germany |
8.1 | |||
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Netherlands |
5.3 | |||
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Sweden |
3.2 | |||
|
Denmark |
2.8 | |||
|
Hong Kong |
2.6 | |||
| (a) |
Excludes money market funds. |
| 4 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of February 28, 2022 | iShares® ESG Aware MSCI USA ETF |
Investment Objective
The iShares ESG Aware MSCI USA ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. companies that have positive environmental, social and governance characteristics, as identified by the index provider while exhibiting risk and return characteristics similar to those of the parent index, as represented by the MSCI USA Extended ESG Focus Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
| 6 Months | 1 Year | 5 Years |
Since Inception |
1 Year | 5 Years |
Since Inception |
||||||||||||||||||||||||||
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Fund NAV |
(4.69 | )% | 13.25 | % | 15.46 | % | 16.44 | % | 13.25 | % | 105.18 | % | 122.27 | % | ||||||||||||||||||
|
Fund Market |
(4.79 | ) | 13.20 | 15.44 | 16.43 | 13.20 | 104.99 | 122.11 | ||||||||||||||||||||||||
|
Index |
(4.63 | ) | 13.43 | 15.66 | 16.65 | 13.43 | 106.96 | 124.41 | ||||||||||||||||||||||||
The inception date of the Fund was 12/1/16. The first day of secondary market trading was 12/2/16.
Index performance through May 31, 2018 reflects the performance of the MSCI USA ESG Focus Index. Index performance beginning on June 1, 2018 reflects the performance of the MSCI USA Extended ESG Focus Index.
Past performance is no guarantee 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” on page 11 for more information.
Expense Example
| Actual |
Hypothetical 5% Return |
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Beginning Account Value (09/01/21) |
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Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During |
|
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 953.10 | $ 0.73 | $ 1,000.00 | $ 1,024.10 | $ 0.75 | 0.15 | % | |||||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (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 “Shareholder Expenses” for more information. |
Portfolio Information
| ALLOCATION BY SECTOR | ||||
|
Sector |
|
Percent of Total Investments |
(a) | |
|
Information Technology |
29.6 | % | ||
|
Health Care |
12.8 | |||
|
Consumer Discretionary |
11.8 | |||
|
Financials |
11.0 | |||
|
Communication Services |
8.8 | |||
|
Industrials |
8.4 | |||
|
Consumer Staples |
6.2 | |||
|
Energy |
3.6 | |||
|
Real Estate |
2.9 | |||
|
Materials |
2.6 | |||
|
Utilities |
2.3 | |||
| TEN LARGEST HOLDINGS | ||||
|
Security |
|
Percent of Total Investments |
(a) | |
|
Apple Inc. |
6.8 | % | ||
|
Microsoft Corp. |
5.7 | |||
|
Amazon.com Inc. |
3.5 | |||
|
Alphabet Inc., Class A |
2.0 | |||
|
Alphabet Inc., Class C |
2.0 | |||
|
Tesla Inc. |
1.9 | |||
|
NVIDIA Corp. |
1.7 | |||
|
JPMorgan Chase & Co. |
1.2 | |||
|
Meta Platforms Inc, Class A |
1.1 | |||
|
Home Depot Inc. (The) |
1.0 | |||
| (a) |
Excludes money market funds. |
|
F U N D S U M M A R Y |
5 |
| Fund Summary as of February 28, 2022 | iShares® ESG Aware MSCI USA Small-Cap ETF |
Investment Objective
The iShares ESG Aware MSCI USA Small-Cap ETF (the “Fund”) seeks to track the investment results of an optimized index designed to produce investment results comparable to a capitalization weighted index of small-capitalization U.S. companies, while reflecting a higher allocation to those companies with favorable environmental, social and governance (“ESG”) profiles, (as determined by the index provider), as represented by the MSCI USA Small Cap Extended ESG Focus Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||
| 6 Months | 1 Year |
Since Inception |
1 Year |
Since Inception |
||||||||||||||||||
|
Fund NAV |
(6.02 | )% | 0.60 | % | 11.81 | % | 0.60 | % | 54.37 | % | ||||||||||||
|
Fund Market |
(5.95 | ) | 0.72 | 11.84 | 0.72 | 54.56 | ||||||||||||||||
|
Index |
(5.96 | ) | 0.71 | 11.97 | 0.71 | 55.24 | ||||||||||||||||
The inception date of the Fund was 4/10/18. The first day of secondary market trading was 4/12/18.
Past performance is no guarantee 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” on page 11 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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Beginning Account Value (09/01/21) |
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Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 939.80 | $ 0.82 | $ 1,000.00 | $ 1,024.00 | $ 0.85 | 0.17 | % | |||||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (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 “Shareholder Expenses” for more information. |
Portfolio Information
|
ALLOCATION BY SECTOR
| ||
| Sector |
Percent of Total Investments(a) | |
|
Industrials |
17.7% | |
|
Financials |
15.1 | |
|
Information Technology |
14.2 | |
|
Consumer Discretionary |
13.9 | |
|
Health Care |
12.7 | |
|
Real Estate |
8.5 | |
|
Materials |
5.0 | |
|
Energy |
4.9 | |
|
Consumer Staples |
3.3 | |
|
Utilities |
2.4 | |
|
Communication Services |
2.3 | |
|
TEN LARGEST HOLDINGS
| ||
| Security |
Percent of Total Investments(a) | |
|
Comerica Inc. |
0.5% | |
|
Quanta Services Inc. |
0.4 | |
|
Marathon Oil Corp. |
0.4 | |
|
LPL Financial Holdings Inc. |
0.4 | |
|
Builders FirstSource Inc. |
0.3 | |
|
Reliance Steel & Aluminum Co. |
0.3 | |
|
Ingredion Inc. |
0.3 | |
|
Ovintiv Inc. |
0.3 | |
|
Jones Lang LaSalle Inc. |
0.3 | |
|
Alcoa Corp. |
0.3 | |
| (a) |
Excludes money market funds. |
| 6 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of February 28, 2022 | iShares® ESG MSCI EM Leaders ETF |
Investment Objective
The iShares ESG MSCI EM Leaders ETF (the “Fund”) seeks to track the investment results of an index composed of large and mid-capitalization stocks of emerging market companies with high environmental, social, and governance performance relative to their sector peers as determined by the index provider, as represented by the MSCI EM Extended ESG Leaders 5% Issuer 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 | |||||||||||||||||||||
| 6 Months | 1 Year |
Since Inception |
1 Year |
Since Inception |
||||||||||||||||||
|
Fund NAV(a) |
(12.30 | )% | (10.08 | )% | 5.19 | % | (10.08 | )% | 11.03 | % | ||||||||||||
|
Fund Market |
(10.89 | ) | (8.89 | ) | 5.99 | (8.89 | ) | 12.77 | ||||||||||||||
|
Index |
(11.43 | ) | (8.74 | ) | 6.24 | (8.74 | ) | 13.34 | ||||||||||||||
| (a) |
Includes payments received from an affiliate, which impacted the Fund’s total returns. Excluding the payments, the Average Annual Total Returns for the 6 Months, 1 Year, and Since Inception would have been -13.12%, -10.92% and 4.72%, respectively. |
The inception date of the Fund was 2/5/20. The first day of secondary market trading was 2/7/20.
Past performance is no guarantee 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” on page 11 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
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|
|
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|||||||||||||||||||||||||||
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Beginning Account Value (09/01/21) |
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Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 877.00 | $ 0.74 | $ 1,000.00 | $ 1,024.00 | $ 0.80 | 0.16 | % | |||||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (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 “Shareholder Expenses” for more information. |
Portfolio Information
|
ALLOCATION BY SECTOR
| ||
| Sector |
Percent of Total Investments(a) | |
|
Financials |
23.4% | |
|
Consumer Discretionary |
16.8 | |
|
Information Technology |
15.5 | |
|
Communication Services |
10.7 | |
|
Materials |
8.4 | |
|
Consumer Staples |
6.4 | |
|
Industrials |
5.4 | |
|
Energy |
4.7 | |
|
Health Care |
4.1 | |
|
Real Estate |
2.6 | |
|
Utilities |
2.0 | |
|
TEN LARGEST GEOGRAPHIC ALLOCATION
| ||
| Country/Geographic Region |
Percent of Total Investments(a) | |
|
China |
31.5% | |
|
Taiwan |
17.3 | |
|
India |
14.5 | |
|
South Korea |
7.6 | |
|
South Africa |
6.5 | |
|
Brazil |
4.2 | |
|
Thailand |
2.9 | |
|
Malaysia |
2.4 | |
|
United Arab Emirates |
2.4 | |
|
Mexico |
1.9 | |
| (a) |
Excludes money market funds. |
|
F U N D S U M M A R Y |
7 |
| Fund Summary as of February 28, 2022 | iShares® ESG MSCI USA Leaders ETF |
Investment Objective
The iShares ESG MSCI USA Leaders ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks of companies with high environmental, social, and governance performance relative to their sector peers, as determined by the index provider, as represented by the MSCI USA Extended ESG Leaders Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||
| 6 Months | 1 Year |
Since Inception |
1 Year |
Since Inception |
||||||||||||||||||
|
Fund NAV |
(3.38 | )% | 16.65 | % | 18.65 | % | 16.65 | % | 61.86 | % | ||||||||||||
|
Fund Market |
(3.48 | ) | 16.66 | 18.59 | 16.66 | 61.62 | ||||||||||||||||
|
Index |
(3.34 | ) | 16.78 | 18.77 | 16.78 | 62.28 | ||||||||||||||||
The inception date of the Fund was 5/7/19. The first day of secondary market trading was 5/9/19.
Past performance is no guarantee 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” on page 11 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||||||||
|
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 966.20 | $ 0.49 | $ 1,000.00 | $ 1,024.30 | $ 0.50 | 0.10 | % | |||||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (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 “Shareholder Expenses” for more information. |
Portfolio Information
| ALLOCATION BY SECTOR | ||
| Sector |
Percent of Total Investments(a) | |
|
Information Technology |
28.7% | |
|
Health Care |
13.3 | |
|
Consumer Discretionary |
12.5 | |
|
Financials |
11.6 | |
|
Communication Services |
11.6 | |
|
Industrials |
7.8 | |
|
Consumer Staples |
6.5 | |
|
Materials |
2.8 | |
|
Real Estate |
2.7 | |
|
Energy |
1.5 | |
|
Utilities |
1.0 | |
| TEN LARGEST HOLDINGS | ||
| Security |
Percent of Total Investments(a) | |
|
Microsoft Corp. |
11.0% | |
|
Alphabet Inc., Class A |
4.2 | |
|
Alphabet Inc., Class C |
4.0 | |
|
Tesla Inc. |
3.8 | |
|
NVIDIA Corp. |
3.1 | |
|
Johnson & Johnson |
2.2 | |
|
Procter & Gamble Co. (The) |
1.9 | |
|
Visa Inc., Class A |
1.9 | |
|
Home Depot Inc. (The) |
1.7 | |
|
Mastercard Inc., Class A |
1.6 | |
| (a) |
Excludes money market funds. |
| 8 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of February 28, 2022 | iShares® MSCI Global Sustainable Development Goals ETF |
Investment Objective
The iShares MSCI Global Sustainable Development Goals ETF (the “Fund”) (formerly the iShares MSCI Global Impact ETF) seeks to track the investment results of an index composed of companies that derive a majority of their revenue from products and services that address at least one of the world’s major social and environmental challenges as identified by the United Nations Sustainable Development Goals, as represented by the MSCI ACWI Sustainable Impact Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||
| 6 Months | 1 Year | 5 Years |
Since Inception |
1 Year | 5 Years |
Since Inception |
||||||||||||||||||||||||
|
Fund NAV |
(11.98 | )% | (5.28 | )% | 13.91 | % | 12.44 | % | (5.28 | )% | 91.75 | % | 98.82 | % | ||||||||||||||||
|
Fund Market |
(12.39 | ) | (5.95 | ) | 13.79 | 12.39 | (5.95 | ) | 90.80 | 98.30 | ||||||||||||||||||||
|
Index |
(11.94 | ) | (5.11 | ) | 14.11 | 12.67 | (5.11 | ) | 93.49 | 101.20 | ||||||||||||||||||||
The inception date of the Fund was 4/20/16. The first day of secondary market trading was 4/22/16.
Past performance is no guarantee 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” on page 11 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||||||||
|
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 880.20 | $ 2.28 | $ 1,000.00 | $ 1,022.40 | $ 2.46 | 0.49 | % | |||||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (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 “Shareholder Expenses” for more information. |
Portfolio Information
|
ALLOCATION BY SECTOR
| ||
| Sector |
Percent of Total Investments(a) | |
|
Health Care |
20.2% | |
|
Consumer Staples |
19.8 | |
|
Real Estate |
16.7 | |
|
Industrials |
16.1 | |
|
Materials |
14.8 | |
|
Consumer Discretionary |
3.7 | |
|
Information Technology |
3.5 | |
|
Utilities |
3.5 | |
|
Communication Services |
1.7 | |
|
TEN LARGEST GEOGRAPHIC ALLOCATION
| ||
| Country/Geographic Region |
Percent of Total Investments(a) | |
|
United States |
24.5% | |
|
Japan |
14.4 | |
|
China |
13.0 | |
|
Denmark |
8.0 | |
|
United Kingdom |
6.9 | |
|
Canada |
5.6 | |
|
Belgium |
4.8 | |
|
Hong Kong |
4.7 | |
|
Switzerland |
4.6 | |
|
Sweden |
2.5 | |
| (a) |
Excludes money market funds. |
|
F U N D S U M M A R Y |
9 |
| Fund Summary as of February 28, 2022 | iShares® Paris-Aligned Climate MSCI USA ETF |
Investment Objective
The iShares Paris-Aligned Climate MSCI USA ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks that is designed to be compatible with the objectives of the Paris Agreement by, in aggregate, following a decarbonization trajectory, reducing exposure to climate-related transition and physical risks and increasing exposure to companies favorably positioned for the transition to a low-carbon economy, as represented by the MSCI USA Climate Paris Aligned Benchmark Extended 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
|
Cumulative Total Returns | ||
|
Since Inception | ||
|
Fund NAV |
(3.16)% | |
|
Fund Market |
(3.19) | |
|
Index |
(3.17) | |
The inception date of the Fund was 2/8/22. The first day of secondary market trading was 2/10/22.
Past performance is no guarantee 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” on page 11 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||||
|
|
Beginning Account Value (02/08/22) |
(a) |
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(b) |
|
Beginning Account Value (09/01/21) |
|
|
Ending Account Value (02/28/22) |
|
|
Expenses Paid During the Period |
(b) |
|
Annualized Expense Ratio |
| ||||||
| $ 1,000.00 | $ 968.40 | $ 0.05 | $ 1,000.00 | $ 1,024.30 | $ 0.50 | 0.10 | % | |||||||||||||||||||
| (a) |
Commencement of operations. |
| (b) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 20/365 for actual expenses and 181/365 for hypothetical expenses (to reflect the six month 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 “Shareholder Expenses” for more information. |
Portfolio Information
|
ALLOCATION BY SECTOR
| ||
| Sector |
Percent of Total Investments(a) | |
|
Information Technology |
37.1% | |
|
Health Care |
12.6 | |
|
Consumer Discretionary |
12.4 | |
|
Financials |
11.2 | |
|
Communication Services |
8.2 | |
|
Real Estate |
7.1 | |
|
Industrials |
6.1 | |
|
Materials |
3.5 | |
|
Consumer Staples |
1.4 | |
|
Utilities |
0.4 | |
|
TEN LARGEST HOLDINGS
| ||
| Security |
Percent of Total Investments(a) | |
|
Apple Inc. |
7.8% | |
|
Microsoft Corp. |
6.3 | |
|
Amazon.com Inc. |
3.6 | |
|
Tesla Inc. |
2.7 | |
|
Alphabet Inc., Class C |
2.4 | |
|
NVIDIA Corp. |
2.0 | |
|
Sherwin-Williams Co. (The) |
1.8 | |
|
Corning Inc. |
1.7 | |
|
Ecolab Inc. |
1.7 | |
|
Meta Platforms Inc, Class A |
1.4 | |
| (a) |
Excludes money market funds. |
| 10 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
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 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 a 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 / S H A R E H O L D E R E X P E N S E S |
11 |
|
Schedule of Investments (unaudited) February 28, 2022 |
iShares® ESG Aware MSCI EAFE ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
| |||||||
|
Australia — 8.1% |
| |||||||
|
APA Group |
1,659,653 | $ | 12,132,848 | |||||
|
Aristocrat Leisure Ltd. |
343,152 | 9,412,658 | ||||||
|
ASX Ltd. |
226,115 | 13,580,796 | ||||||
|
Australia & New Zealand Banking Group Ltd. |
1,437,026 | 27,205,549 | ||||||
|
BlueScope Steel Ltd. |
758,787 | 11,236,007 | ||||||
|
Brambles Ltd. |
2,118,825 | 15,261,304 | ||||||
|
Cochlear Ltd. |
83,519 | 13,633,977 | ||||||
|
Coles Group Ltd. |
635,571 | 8,022,870 | ||||||
|
Commonwealth Bank of Australia |
776,057 | 52,650,388 | ||||||
|
Computershare Ltd. |
456,685 | 7,215,777 | ||||||
|
CSL Ltd. |
207,100 | 39,374,685 | ||||||
|
Dexus |
1,782,355 | 14,109,088 | ||||||
|
Fortescue Metals Group Ltd. |
1,127,342 | 15,018,830 | ||||||
|
Glencore PLC |
4,334,607 | 25,487,513 | ||||||
|
Goodman Group |
773,131 | 12,508,986 | ||||||
|
Insurance Australia Group Ltd. |
2,405,034 | 8,029,108 | ||||||
|
Lendlease Corp. Ltd. |
1,053,125 | 8,124,616 | ||||||
|
Macquarie Group Ltd. |
177,394 | 23,345,626 | ||||||
|
Mineral Resources Ltd. |
214,133 | 7,037,495 | ||||||
|
Mirvac Group |
5,827,282 | 10,867,380 | ||||||
|
National Australia Bank Ltd. |
1,193,528 | 25,067,710 | ||||||
|
Newcrest Mining Ltd. |
446,572 | 8,284,268 | ||||||
|
Northern Star Resources Ltd. |
1,168,495 | 8,708,777 | ||||||
|
Orica Ltd. |
715,959 | 7,633,365 | ||||||
|
QBE Insurance Group Ltd. |
833,789 | 6,957,983 | ||||||
|
Ramsay Health Care Ltd. |
166,698 | 7,776,079 | ||||||
|
Rio Tinto Ltd. |
243,330 | 20,984,051 | ||||||
|
Rio Tinto PLC |
584,698 | 45,718,720 | ||||||
|
Santos Ltd. |
1,750,354 | 9,322,095 | ||||||
|
SEEK Ltd. |
364,123 | 7,108,708 | ||||||
|
South32 Ltd. |
2,584,918 | 9,030,416 | ||||||
|
Stockland |
2,686,148 | 8,127,997 | ||||||
|
Transurban Group |
2,108,218 | 19,472,350 | ||||||
|
Wesfarmers Ltd. |
476,106 | 16,696,971 | ||||||
|
Westpac Banking Corp. |
1,501,159 | 24,808,517 | ||||||
|
Woodside Petroleum Ltd. |
946,529 | 19,778,924 | ||||||
|
Woolworths Group Ltd. |
484,826 | 12,536,474 | ||||||
|
|
|
|||||||
| 592,268,906 | ||||||||
| Austria — 0.4% | ||||||||
|
Erste Group Bank AG |
159,006 | 5,652,157 | ||||||
|
OMV AG |
325,372 | 15,488,839 | ||||||
|
Verbund AG |
79,032 | 9,532,565 | ||||||
|
|
|
|||||||
| 30,673,561 | ||||||||
| Belgium — 0.8% | ||||||||
|
Anheuser-Busch InBev SA/NV |
428,515 | 26,442,721 | ||||||
|
KBC Group NV |
190,706 | 13,739,782 | ||||||
|
UCB SA |
76,756 | 8,376,898 | ||||||
|
Umicore SA |
187,718 | 7,679,482 | ||||||
|
|
|
|||||||
| 56,238,883 | ||||||||
| Denmark — 2.8% | ||||||||
|
AP Moller - Maersk A/S, Class A |
5,011 | 15,025,322 | ||||||
|
Carlsberg A/S, Class B |
85,724 | 12,571,392 | ||||||
|
Coloplast A/S, Class B |
53,083 | 7,985,703 | ||||||
|
DSV A/S |
75,196 | 13,840,325 | ||||||
|
Genmab A/S(a) |
30,086 | 10,111,792 | ||||||
|
GN Store Nord AS |
129,463 | 6,843,815 | ||||||
|
Novo Nordisk A/S, Class B |
835,788 | 86,490,187 | ||||||
|
Novozymes A/S, Class B |
129,193 | 8,479,272 | ||||||
| Security | Shares | Value | ||||||
|
Denmark (continued) |
| |||||||
|
Orsted AS(b) |
119,485 | $ | 15,463,043 | |||||
|
Pandora A/S |
68,322 | 6,995,988 | ||||||
|
Vestas Wind Systems A/S |
532,323 | 17,165,657 | ||||||
|
|
|
|||||||
| 200,972,496 | ||||||||
| Finland — 1.2% | ||||||||
|
Kesko Oyj, Class B |
291,891 | 8,590,264 | ||||||
|
Neste Oyj |
301,939 | 11,773,997 | ||||||
|
Nokia Oyj(a) |
2,760,320 | 14,925,986 | ||||||
|
Nordea Bank Abp |
941,878 | 10,420,489 | ||||||
|
Orion Oyj, Class B |
182,972 | 8,592,157 | ||||||
|
Sampo Oyj, Class A |
149,886 | 7,119,006 | ||||||
|
Stora Enso Oyj, Class R |
360,802 | 6,871,133 | ||||||
|
UPM-Kymmene Oyj |
355,403 | 12,280,315 | ||||||
|
Wartsila OYJ Abp |
632,256 | 7,080,997 | ||||||
|
|
|
|||||||
| 87,654,344 | ||||||||
| France — 10.7% | ||||||||
|
Air Liquide SA |
150,425 | 24,986,359 | ||||||
|
Airbus SE(a) |
197,471 | 25,212,912 | ||||||
|
Alstom SA |
253,480 | 6,448,507 | ||||||
|
AXA SA |
1,170,108 | 31,660,328 | ||||||
|
BNP Paribas SA |
514,198 | 29,836,092 | ||||||
|
Bureau Veritas SA |
271,224 | 7,755,061 | ||||||
|
Capgemini SE |
69,434 | 14,534,586 | ||||||
|
Cie. de Saint-Gobain |
177,169 | 10,985,377 | ||||||
|
Cie. Generale des Etablissements Michelin SCA |
138,823 | 19,110,033 | ||||||
|
CNP Assurances |
305,400 | 7,443,593 | ||||||
|
Covivio |
94,694 | 7,746,955 | ||||||
|
Danone SA |
442,102 | 26,897,145 | ||||||
|
Dassault Systemes SE |
366,851 | 17,695,521 | ||||||
|
Edenred |
169,913 | 7,731,868 | ||||||
|
Eiffage SA |
67,902 | 6,916,767 | ||||||
|
Engie SA |
584,414 | 9,311,145 | ||||||
|
EssilorLuxottica SA |
147,188 | 25,694,641 | ||||||
|
Gecina SA |
83,847 | 10,655,371 | ||||||
|
Hermes International |
12,771 | 17,611,677 | ||||||
|
Kering SA |
40,927 | 28,388,339 | ||||||
|
Klepierre SA |
267,088 | 7,634,588 | ||||||
|
Legrand SA |
76,084 | 7,177,768 | ||||||
|
L’Oreal SA |
133,909 | 52,937,470 | ||||||
|
LVMH Moet Hennessy Louis Vuitton SE |
118,378 | 86,996,578 | ||||||
|
Orange SA |
706,508 | 8,542,877 | ||||||
|
Pernod Ricard SA |
105,552 | 23,042,024 | ||||||
|
Publicis Groupe SA |
118,029 | 7,833,079 | ||||||
|
Safran SA |
128,951 | 16,395,750 | ||||||
|
Sanofi |
468,445 | 48,967,728 | ||||||
|
Schneider Electric SE |
297,737 | 46,130,208 | ||||||
|
Societe Generale SA |
568,349 | 16,071,508 | ||||||
|
Teleperformance |
20,613 | 7,648,703 | ||||||
|
TotalEnergies SE |
1,302,059 | 66,333,656 | ||||||
|
Unibail-Rodamco-Westfield(a)(c) |
92,553 | 7,054,928 | ||||||
|
Valeo |
250,336 | 5,520,931 | ||||||
|
Veolia Environnement SA |
206,571 | 7,228,788 | ||||||
|
Vinci SA |
164,939 | 17,294,086 | ||||||
|
Vivendi SE |
575,212 | 7,261,345 | ||||||
|
Worldline SA/France(a)(b) |
144,901 | 7,388,968 | ||||||
|
|
|
|||||||
| 784,083,260 | ||||||||
| Germany — 7.8% | ||||||||
|
adidas AG |
102,797 | 24,305,494 | ||||||
|
Allianz SE, Registered |
248,786 | 56,080,671 | ||||||
| 12 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI EAFE ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Germany (continued) | ||||||||
|
BASF SE |
384,465 | $ | 25,600,080 | |||||
|
Bayerische Motoren Werke AG |
202,186 | 19,471,962 | ||||||
|
Beiersdorf AG |
74,372 | 7,538,940 | ||||||
|
Brenntag SE |
89,886 | 7,535,367 | ||||||
|
Carl Zeiss Meditec AG, Bearer |
47,566 | 7,464,754 | ||||||
|
Commerzbank AG(a) |
776,852 | 6,492,241 | ||||||
|
Continental AG(a) |
76,282 | 6,500,229 | ||||||
|
Delivery Hero SE(a)(b) |
134,165 | 7,191,327 | ||||||
|
Deutsche Bank AG, Registered(a) |
901,113 | 11,124,049 | ||||||
|
Deutsche Boerse AG |
125,110 | 21,296,554 | ||||||
|
Deutsche Post AG, Registered |
360,306 | 18,109,772 | ||||||
|
Deutsche Telekom AG, Registered |
843,254 | 15,115,051 | ||||||
|
E.ON SE |
1,277,740 | 17,379,235 | ||||||
|
Evonik Industries AG |
225,286 | 6,781,474 | ||||||
|
Fresenius SE & Co. KGaA |
175,923 | 6,167,134 | ||||||
|
GEA Group AG |
161,629 | 7,067,837 | ||||||
|
HeidelbergCement AG |
119,861 | 7,777,410 | ||||||
|
HelloFresh SE(a) |
129,700 | 7,074,612 | ||||||
|
Henkel AG & Co. KGaA |
94,194 | 7,242,305 | ||||||
|
Infineon Technologies AG |
687,773 | 23,271,420 | ||||||
|
LEG Immobilien SE |
57,522 | 7,396,768 | ||||||
|
Mercedes-Benz Group AG |
433,138 | 33,836,514 | ||||||
|
Merck KGaA |
101,796 | 20,190,979 | ||||||
|
MTU Aero Engines AG |
45,579 | 10,910,983 | ||||||
|
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered |
75,201 | 20,630,425 | ||||||
|
Puma SE |
106,475 | 9,764,226 | ||||||
|
SAP SE |
567,650 | 64,033,185 | ||||||
|
Siemens AG, Registered |
358,686 | 50,532,523 | ||||||
|
Volkswagen AG |
26,256 | 6,790,832 | ||||||
|
Vonovia SE |
316,782 | 16,815,745 | ||||||
|
Zalando SE(a)(b) |
136,328 | 9,023,094 | ||||||
|
|
|
|||||||
| 566,513,192 | ||||||||
| Hong Kong — 2.6% | ||||||||
|
AIA Group Ltd. |
6,269,000 | 65,096,323 | ||||||
|
BOC Hong Kong Holdings Ltd. |
4,487,000 | 16,131,052 | ||||||
|
Galaxy Entertainment Group Ltd.(a) |
1,309,000 | 7,300,595 | ||||||
|
Hang Seng Bank Ltd. |
568,000 | 10,474,538 | ||||||
|
Hong Kong Exchanges & Clearing Ltd. |
576,300 | 27,925,569 | ||||||
|
MTR Corp. Ltd.(c) |
3,153,500 | 16,346,173 | ||||||
|
Sands China Ltd.(a) |
2,508,400 | 6,615,857 | ||||||
|
Sun Hung Kai Properties Ltd. |
763,500 | 8,876,283 | ||||||
|
Swire Pacific Ltd., Class A |
1,474,000 | 8,145,637 | ||||||
|
Swire Properties Ltd. |
5,200,800 | 13,524,772 | ||||||
|
Techtronic Industries Co. Ltd. |
511,000 | 8,562,345 | ||||||
|
|
|
|||||||
| 188,999,144 | ||||||||
| Ireland — 0.9% | ||||||||
|
CRH PLC |
460,941 | 20,953,560 | ||||||
|
Flutter Entertainment PLC, Class DI(a) |
63,212 | 9,103,038 | ||||||
|
James Hardie Industries PLC |
224,797 | 7,338,958 | ||||||
|
Kerry Group PLC, Class A |
132,364 | 15,769,730 | ||||||
|
Kingspan Group PLC |
73,376 | 7,166,062 | ||||||
|
Smurfit Kappa Group PLC |
138,369 | 6,910,456 | ||||||
|
|
|
|||||||
| 67,241,804 | ||||||||
| Israel — 0.6% | ||||||||
|
Bank Hapoalim BM |
1,203,553 | 12,755,842 | ||||||
|
Bank Leumi Le-Israel BM |
791,554 | 8,574,841 | ||||||
|
CyberArk Software Ltd.(a)(c) |
48,809 | 8,304,363 | ||||||
|
Isracard Ltd. |
1 | 6 | ||||||
| Security | Shares | Value | ||||||
| Israel (continued) | ||||||||
|
Nice Ltd.(a) |
32,400 | $ | 7,329,142 | |||||
|
Wix.com Ltd(a) |
85,036 | 7,787,597 | ||||||
|
|
|
|||||||
| 44,751,791 | ||||||||
| Italy — 2.0% | ||||||||
|
Amplifon SpA |
186,823 | 8,017,410 | ||||||
|
Assicurazioni Generali SpA |
626,166 | 12,383,584 | ||||||
|
Enel SpA |
4,816,544 | 35,492,815 | ||||||
|
Eni SpA |
1,630,627 | 25,363,925 | ||||||
|
Ferrari NV |
34,061 | 7,361,293 | ||||||
|
Intesa Sanpaolo SpA |
11,912,237 | 30,451,561 | ||||||
|
Nexi SpA(a)(b) |
512,811 | 7,003,953 | ||||||
|
Prysmian SpA |
228,375 | 7,517,960 | ||||||
|
UniCredit SpA |
818,359 | 10,339,568 | ||||||
|
|
|
|||||||
| 143,932,069 | ||||||||
| Japan — 22.5% | ||||||||
|
Advantest Corp. |
90,600 | 7,281,057 | ||||||
|
Aeon Co. Ltd. |
386,500 | 8,755,649 | ||||||
|
Ajinomoto Co. Inc. |
344,000 | 10,024,506 | ||||||
|
Asahi Group Holdings Ltd. |
303,700 | 12,251,064 | ||||||
|
Asahi Kasei Corp. |
1,269,400 | 11,913,099 | ||||||
|
Astellas Pharma Inc. |
1,166,500 | 19,462,139 | ||||||
|
Azbil Corp. |
205,200 | 7,789,163 | ||||||
|
Bridgestone Corp. |
318,100 | 13,099,652 | ||||||
|
Canon Inc. |
351,100 | 8,262,416 | ||||||
|
Central Japan Railway Co. |
54,000 | 7,275,780 | ||||||
|
Chugai Pharmaceutical Co. Ltd. |
412,200 | 13,674,167 | ||||||
|
Dai Nippon Printing Co. Ltd. |
289,500 | 7,557,307 | ||||||
|
Dai-ichi Life Holdings Inc. |
539,400 | 11,202,334 | ||||||
|
Daiichi Sankyo Co. Ltd. |
897,900 | 21,904,637 | ||||||
|
Daikin Industries Ltd. |
138,100 | 25,521,506 | ||||||
|
Daiwa House Industry Co. Ltd. |
262,000 | 7,430,391 | ||||||
|
Denso Corp. |
241,700 | 16,996,376 | ||||||
|
East Japan Railway Co. |
195,400 | 11,608,468 | ||||||
|
Eisai Co. Ltd. |
157,300 | 7,804,404 | ||||||
|
ENEOS Holdings Inc. |
4,090,800 | 16,198,706 | ||||||
|
FANUC Corp. |
103,400 | 18,994,797 | ||||||
|
Fast Retailing Co. Ltd. |
30,200 | 16,290,164 | ||||||
|
FUJIFILM Holdings Corp. |
203,400 | 12,928,942 | ||||||
|
Fujitsu Ltd. |
125,300 | 18,204,082 | ||||||
|
Hankyu Hanshin Holdings Inc. |
410,400 | 12,277,958 | ||||||
|
Hitachi Construction Machinery Co. Ltd. |
292,300 | 7,153,061 | ||||||
|
Hitachi Ltd. |
498,500 | 24,652,170 | ||||||
|
Honda Motor Co. Ltd. |
878,300 | 26,683,537 | ||||||
|
Hoya Corp. |
172,100 | 22,419,235 | ||||||
|
Hulic Co. Ltd. |
803,000 | 7,315,364 | ||||||
|
Ibiden Co. Ltd. |
154,900 | 7,565,083 | ||||||
|
Idemitsu Kosan Co. Ltd. |
369,100 | 9,894,295 | ||||||
|
Inpex Corp. |
1,070,800 | 11,037,288 | ||||||
|
ITOCHU Corp. |
1,042,600 | 33,976,874 | ||||||
|
Japan Post Holdings Co. Ltd. |
1,032,100 | 8,531,031 | ||||||
|
JFE Holdings Inc. |
525,300 | 7,820,433 | ||||||
|
Kao Corp. |
271,900 | 12,710,475 | ||||||
|
KDDI Corp. |
1,091,300 | 35,512,256 | ||||||
|
Keio Corp. |
167,800 | 6,865,880 | ||||||
|
Keyence Corp. |
76,800 | 36,326,449 | ||||||
|
Kikkoman Corp. |
97,400 | 7,260,961 | ||||||
|
Kirin Holdings Co. Ltd. |
773,000 | 12,851,477 | ||||||
|
Komatsu Ltd. |
606,600 | 13,954,178 | ||||||
|
Kubota Corp. |
559,900 | 10,045,540 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
13 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI EAFE ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Japan (continued) | ||||||||
|
Kurita Water Industries Ltd. |
178,000 | $ | 7,355,815 | |||||
|
Kyocera Corp. |
196,500 | 11,309,162 | ||||||
|
Kyowa Kirin Co. Ltd. |
283,400 | 7,252,466 | ||||||
|
Lawson Inc. |
176,800 | 7,371,804 | ||||||
|
M3 Inc. |
211,700 | 7,964,894 | ||||||
|
Marubeni Corp. |
1,162,400 | 12,201,291 | ||||||
|
Mazda Motor Corp.(a) |
947,100 | 7,005,089 | ||||||
|
Mitsubishi Chemical Holdings Corp. |
1,033,800 | 7,343,942 | ||||||
|
Mitsubishi Corp. |
600,300 | 20,184,292 | ||||||
|
Mitsubishi Heavy Industries Ltd. |
264,500 | 7,813,178 | ||||||
|
Mitsubishi UFJ Financial Group Inc. |
5,128,400 | 31,483,163 | ||||||
|
Mitsui Fudosan Co. Ltd. |
361,100 | 8,036,661 | ||||||
|
Miura Co. Ltd. |
260,200 | 7,131,468 | ||||||
|
Mizuho Financial Group Inc. |
949,100 | 12,508,305 | ||||||
|
MS&AD Insurance Group Holdings Inc. |
412,200 | 13,947,487 | ||||||
|
Murata Manufacturing Co. Ltd. |
239,100 | 16,250,473 | ||||||
|
NEC Corp. |
167,800 | 7,259,971 | ||||||
|
Nidec Corp. |
151,900 | 13,205,215 | ||||||
|
Nintendo Co. Ltd. |
55,808 | 28,264,062 | ||||||
|
Nippon Express Holdings Inc. |
118,600 | 7,189,506 | ||||||
|
Nippon Paint Holdings Co. Ltd. |
866,400 | 7,754,361 | ||||||
|
Nippon Steel Corp. |
583,100 | 10,675,958 | ||||||
|
Nippon Telegraph & Telephone Corp. |
407,600 | 11,714,786 | ||||||
|
Nippon Yusen KK |
102,500 | 9,603,326 | ||||||
|
Nitto Denko Corp. |
104,400 | 7,618,946 | ||||||
|
Nomura Holdings Inc. |
2,489,500 | 11,359,783 | ||||||
|
Nomura Research Institute Ltd. |
308,500 | 10,829,207 | ||||||
|
NTT Data Corp. |
407,400 | 7,738,203 | ||||||
|
Obayashi Corp. |
893,800 | 7,483,780 | ||||||
|
Odakyu Electric Railway Co. Ltd. |
390,800 | 6,447,607 | ||||||
|
Omron Corp. |
199,300 | 13,562,069 | ||||||
|
Ono Pharmaceutical Co. Ltd. |
304,600 | 7,499,249 | ||||||
|
Oriental Land Co. Ltd./Japan |
89,000 | 16,452,963 | ||||||
|
ORIX Corp. |
713,200 | 14,137,855 | ||||||
|
Panasonic Corp. |
1,264,900 | 13,209,739 | ||||||
|
Recruit Holdings Co. Ltd. |
624,700 | 26,368,705 | ||||||
|
Renesas Electronics Corp.(a) |
591,200 | 6,964,746 | ||||||
|
Resona Holdings Inc. |
2,488,900 | 11,131,092 | ||||||
|
Santen Pharmaceutical Co. Ltd. |
667,300 | 7,568,905 | ||||||
|
Secom Co. Ltd. |
102,000 | 7,491,530 | ||||||
|
Sekisui Chemical Co. Ltd. |
478,200 | 7,830,979 | ||||||
|
Sekisui House Ltd. |
691,700 | 14,102,442 | ||||||
|
Seven & i Holdings Co. Ltd. |
273,900 | 13,327,351 | ||||||
|
SG Holdings Co. Ltd. |
341,200 | 7,231,794 | ||||||
|
Shimadzu Corp. |
209,100 | 7,531,137 | ||||||
|
Shin-Etsu Chemical Co. Ltd. |
123,000 | 19,211,137 | ||||||
|
Shionogi & Co. Ltd. |
187,200 | 12,447,368 | ||||||
|
Shiseido Co. Ltd. |
134,000 | 7,689,736 | ||||||
|
SMC Corp. |
12,600 | 7,458,183 | ||||||
|
SoftBank Corp. |
1,879,000 | 23,740,006 | ||||||
|
SoftBank Group Corp. |
536,400 | 24,071,482 | ||||||
|
Sohgo Security Services Co. Ltd. |
205,000 | 7,401,352 | ||||||
|
Sompo Holdings Inc. |
286,000 | 12,417,564 | ||||||
|
Sony Group Corp. |
652,400 | 66,657,138 | ||||||
|
Stanley Electric Co. Ltd. |
307,300 | 7,302,299 | ||||||
|
Sumitomo Chemical Co. Ltd. |
2,505,200 | 11,960,398 | ||||||
|
Sumitomo Metal Mining Co. Ltd. |
250,400 | 12,490,570 | ||||||
|
Sumitomo Mitsui Financial Group Inc. |
367,400 | 13,028,831 | ||||||
|
Sumitomo Mitsui Trust Holdings Inc. |
326,700 | 11,608,307 | ||||||
|
Sysmex Corp. |
144,400 | 11,559,291 | ||||||
| Security | Shares | Value | ||||||
| Japan (continued) | ||||||||
|
Takeda Pharmaceutical Co. Ltd. |
783,094 | $ | 23,876,767 | |||||
|
TDK Corp. |
223,300 | 9,037,665 | ||||||
|
Terumo Corp. |
392,200 | 12,738,018 | ||||||
|
Tokio Marine Holdings Inc. |
226,300 | 12,876,708 | ||||||
|
Tokyo Electron Ltd. |
80,400 | 39,458,507 | ||||||
|
Tokyo Gas Co. Ltd. |
370,400 | 7,544,426 | ||||||
|
Tokyu Corp. |
608,100 | 8,109,850 | ||||||
|
Toray Industries Inc. |
1,919,100 | 10,944,034 | ||||||
|
TOTO Ltd. |
174,800 | 7,358,517 | ||||||
|
Toyota Motor Corp. |
4,874,300 | 89,181,058 | ||||||
|
West Japan Railway Co. |
173,700 | 7,494,093 | ||||||
|
Yamaha Corp. |
158,100 | 7,417,840 | ||||||
|
Yamaha Motor Co. Ltd. |
458,800 | 10,313,649 | ||||||
|
Yaskawa Electric Corp. |
182,400 | 7,302,713 | ||||||
|
Yokogawa Electric Corp. |
459,400 | 7,412,105 | ||||||
|
|
|
|||||||
| 1,644,108,720 | ||||||||
| Liechtenstein — 0.1% | ||||||||
|
ArcelorMittal SA |
239,927 | 7,453,146 | ||||||
|
|
|
|||||||
| Netherlands — 5.2% | ||||||||
|
Adyen NV(a)(b) |
8,367 | 17,439,106 | ||||||
|
Akzo Nobel NV |
148,740 | 14,151,437 | ||||||
|
Argenx SE(a) |
26,537 | 7,683,607 | ||||||
|
ASM International NV |
23,276 | 7,517,389 | ||||||
|
ASML Holding NV |
203,514 | 136,155,705 | ||||||
|
CNH Industrial NV |
712,055 | 10,128,631 | ||||||
|
Heineken NV |
142,123 | 14,416,739 | ||||||
|
ING Groep NV |
1,780,269 | 20,790,853 | ||||||
|
Just Eat Takeaway.com NV(a)(b) |
169,222 | 6,848,780 | ||||||
|
Koninklijke Ahold Delhaize NV |
528,564 | 16,259,813 | ||||||
|
Koninklijke DSM NV |
115,969 | 21,774,807 | ||||||
|
Koninklijke KPN NV |
2,669,466 | 9,135,267 | ||||||
|
Koninklijke Philips NV |
223,774 | 7,612,504 | ||||||
|
NN Group NV |
131,698 | 6,320,830 | ||||||
|
Prosus NV |
433,028 | 26,883,079 | ||||||
|
Randstad NV |
102,805 | 7,006,025 | ||||||
|
Stellantis NV |
642,867 | 11,682,100 | ||||||
|
STMicroelectronics NV |
359,143 | 15,076,105 | ||||||
|
Universal Music Group NV |
323,494 | 7,374,048 | ||||||
|
Wolters Kluwer NV |
178,132 | 18,149,823 | ||||||
|
|
|
|||||||
| 382,406,648 | ||||||||
| New Zealand — 0.3% | ||||||||
|
Fisher & Paykel Healthcare Corp. Ltd. |
392,297 | 7,372,049 | ||||||
|
Spark New Zealand Ltd. |
2,531,856 | 7,717,308 | ||||||
|
Xero Ltd.(a) |
96,874 | 6,660,862 | ||||||
|
|
|
|||||||
| 21,750,219 | ||||||||
| Norway — 1.0% | ||||||||
|
Equinor ASA |
952,987 | 29,957,618 | ||||||
|
Mowi ASA |
275,832 | 7,102,345 | ||||||
|
Norsk Hydro ASA |
1,198,364 | 11,379,767 | ||||||
|
Orkla ASA |
1,199,576 | 11,236,860 | ||||||
|
Telenor ASA |
1,075,825 | 15,917,486 | ||||||
|
|
|
|||||||
| 75,594,076 | ||||||||
| Portugal — 0.2% | ||||||||
|
Galp Energia SGPS SA |
1,361,106 | 15,066,500 | ||||||
|
|
|
|||||||
| Singapore — 1.5% | ||||||||
|
Capitaland Investment Ltd/Singapore(a) |
3,313,700 | 9,080,398 | ||||||
|
City Developments Ltd. |
1,701,500 | 9,003,503 | ||||||
|
DBS Group Holdings Ltd. |
935,700 | 23,523,621 | ||||||
| 14 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI EAFE ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Singapore (continued) | ||||||||
|
Keppel Corp. Ltd. |
2,816,400 | $ | 12,538,479 | |||||
|
Oversea-Chinese Banking Corp. Ltd. |
2,371,200 | 20,547,444 | ||||||
|
Sea Ltd., ADR(a) |
124,363 | 18,107,253 | ||||||
|
United Overseas Bank Ltd. |
759,500 | 16,880,175 | ||||||
|
|
|
|||||||
| 109,680,873 | ||||||||
| Spain — 2.4% | ||||||||
|
Amadeus IT Group SA(a) |
204,379 | 13,484,231 | ||||||
|
Banco Bilbao Vizcaya Argentaria SA |
3,582,341 | 21,256,623 | ||||||
|
Banco Santander SA |
6,624,969 | 22,061,247 | ||||||
|
CaixaBank SA |
2,031,037 | 6,671,110 | ||||||
|
Cellnex Telecom SA(b) |
216,903 | 9,811,002 | ||||||
|
Endesa SA |
427,811 | 9,403,893 | ||||||
|
Iberdrola SA |
3,376,563 | 38,309,082 | ||||||
|
Industria de Diseno Textil SA |
719,185 | 18,760,491 | ||||||
|
Naturgy Energy Group SA |
319,765 | 8,579,177 | ||||||
|
Red Electrica Corp. SA |
174,858 | 3,464,017 | ||||||
|
Repsol SA |
1,136,258 | 14,744,126 | ||||||
|
Telefonica SA |
1,665,310 | 7,984,268 | ||||||
|
|
|
|||||||
| 174,529,267 | ||||||||
| Sweden — 3.2% | ||||||||
|
Alfa Laval AB |
239,150 | 7,755,853 | ||||||
|
Assa Abloy AB, Class B |
386,164 | 10,135,913 | ||||||
|
Atlas Copco AB, Class A |
299,260 | 15,347,281 | ||||||
|
Atlas Copco AB, Class B |
156,436 | 7,068,590 | ||||||
|
Boliden AB |
430,404 | 19,144,556 | ||||||
|
Epiroc AB, Class A |
538,115 | 10,111,532 | ||||||
|
EQT AB |
205,164 | 6,866,845 | ||||||
|
Essity AB, Class B |
479,332 | 12,336,052 | ||||||
|
Evolution AB(b) |
76,714 | 8,795,957 | ||||||
|
H & M Hennes & Mauritz AB, Class B |
530,896 | 8,860,177 | ||||||
|
Husqvarna AB, Class B |
577,488 | 6,955,331 | ||||||
|
Investor AB |
326,836 | 7,227,156 | ||||||
|
Investor AB, Class B |
501,972 | 10,221,391 | ||||||
|
Nibe Industrier AB, Class B |
787,905 | 7,013,745 | ||||||
|
Sandvik AB |
475,870 | 10,256,195 | ||||||
|
Skandinaviska Enskilda Banken AB, Class A |
578,248 | 6,661,629 | ||||||
|
SKF AB, Class B |
366,945 | 6,775,340 | ||||||
|
Svenska Cellulosa AB SCA, Class B |
512,649 | 8,364,143 | ||||||
|
Svenska Handelsbanken AB, Class A |
703,937 | 6,692,193 | ||||||
|
Swedbank AB, Class A |
414,627 | 6,699,160 | ||||||
|
Tele2 AB, Class B |
855,111 | 11,331,214 | ||||||
|
Telefonaktiebolaget LM Ericsson, Class B |
1,492,658 | 13,735,282 | ||||||
|
Telia Co. AB |
3,515,877 | 13,072,636 | ||||||
|
Volvo AB, Class A |
375,247 | 7,332,903 | ||||||
|
Volvo AB, Class B |
334,229 | 6,428,516 | ||||||
|
|
|
|||||||
| 235,189,590 | ||||||||
| Switzerland — 10.5% | ||||||||
|
ABB Ltd., Registered |
1,017,122 | 34,371,511 | ||||||
|
Adecco Group AG, Registered |
153,592 | 7,253,939 | ||||||
|
Alcon Inc. |
203,536 | 15,724,693 | ||||||
|
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS |
801 | 8,496,762 | ||||||
|
Coca-Cola HBC AG, Class DI |
295,489 | 7,507,352 | ||||||
|
Credit Suisse Group AG, Registered |
1,114,061 | 9,332,606 | ||||||
|
Geberit AG, Registered |
23,647 | 15,469,326 | ||||||
|
Givaudan SA, Registered |
6,787 | 28,338,481 | ||||||
|
Holcim Ltd. |
136,925 | 6,881,336 | ||||||
|
Kuehne + Nagel International AG, Registered |
53,676 | 14,638,258 | ||||||
|
Logitech International SA, Registered |
109,584 | 8,200,049 | ||||||
| Security | Shares | Value | ||||||
| Switzerland (continued) | ||||||||
|
Lonza Group AG, Registered |
49,516 | $ | 34,260,211 | |||||
|
Nestle SA, Registered |
1,291,453 | 168,270,797 | ||||||
|
Novartis AG, Registered |
910,571 | 80,031,359 | ||||||
|
Partners Group Holding AG |
7,342 | 9,924,832 | ||||||
|
Roche Holding AG, Bearer |
32,381 | 13,516,124 | ||||||
|
Roche Holding AG, NVS |
309,166 | 117,091,465 | ||||||
|
SGS SA, Registered |
5,957 | 17,045,060 | ||||||
|
Sika AG, Registered |
51,013 | 16,927,882 | ||||||
|
Sonova Holding AG, Registered |
32,990 | 12,773,535 | ||||||
|
Straumann Holding AG, Registered |
5,202 | 8,263,185 | ||||||
|
Swiss Life Holding AG, Registered |
19,290 | 11,770,320 | ||||||
|
Swiss Re AG |
205,437 | 19,630,666 | ||||||
|
Swisscom AG, Registered |
21,970 | 13,160,296 | ||||||
|
Temenos AG, Registered |
69,095 | 6,945,047 | ||||||
|
UBS Group AG, Registered |
1,692,562 | 31,137,672 | ||||||
|
VAT Group AG(b) |
19,799 | 7,481,941 | ||||||
|
Vifor Pharma AG |
44,753 | 7,855,461 | ||||||
|
Zurich Insurance Group AG |
73,409 | 33,694,439 | ||||||
|
|
|
|||||||
| 765,994,605 | ||||||||
| United Kingdom — 14.3% | ||||||||
|
3i Group PLC |
529,180 | 9,426,875 | ||||||
|
Antofagasta PLC |
565,958 | 11,459,428 | ||||||
|
Ashtead Group PLC |
216,851 | 14,091,384 | ||||||
|
Associated British Foods PLC |
300,567 | 7,690,272 | ||||||
|
AstraZeneca PLC |
730,499 | 88,789,472 | ||||||
|
Aviva PLC |
1,469,353 | 8,233,337 | ||||||
|
BAE Systems PLC |
2,157,635 | 20,715,431 | ||||||
|
Barclays PLC |
8,537,973 | 20,863,041 | ||||||
|
Barratt Developments PLC |
1,188,280 | 9,678,796 | ||||||
|
Berkeley Group Holdings PLC |
137,647 | 7,158,511 | ||||||
|
BP PLC |
14,967,978 | 72,955,605 | ||||||
|
British Land Co PLC/The |
1,064,250 | 7,520,755 | ||||||
|
BT Group PLC |
4,822,550 | 12,032,710 | ||||||
|
Bunzl PLC |
206,029 | 8,205,959 | ||||||
|
Burberry Group PLC |
339,571 | 8,803,781 | ||||||
|
Coca-Cola Europacific Partners PLC |
159,621 | 8,174,191 | ||||||
|
Compass Group PLC |
658,443 | 14,882,821 | ||||||
|
Croda International PLC |
135,873 | 13,600,738 | ||||||
|
DCC PLC |
88,751 | 6,964,600 | ||||||
|
Diageo PLC |
1,360,312 | 67,393,038 | ||||||
|
Entain PLC(a) |
327,304 | 7,358,582 | ||||||
|
Experian PLC |
271,521 | 10,606,818 | ||||||
|
Ferguson PLC |
147,611 | 22,492,660 | ||||||
|
GlaxoSmithKline PLC |
2,316,819 | 48,315,249 | ||||||
|
HSBC Holdings PLC |
9,578,775 | 66,498,557 | ||||||
|
Informa PLC(a) |
977,479 | 7,739,519 | ||||||
|
InterContinental Hotels Group PLC(a) |
115,815 | 8,064,532 | ||||||
|
Intertek Group PLC |
125,006 | 8,973,159 | ||||||
|
J Sainsbury PLC |
2,434,263 | 8,977,854 | ||||||
|
Johnson Matthey PLC |
306,355 | 7,698,549 | ||||||
|
Kingfisher PLC |
2,143,173 | 8,742,764 | ||||||
|
Land Securities Group PLC |
690,745 | 7,319,628 | ||||||
|
Legal & General Group PLC |
3,686,005 | 13,628,735 | ||||||
|
Lloyds Banking Group PLC |
36,814,684 | 23,727,251 | ||||||
|
London Stock Exchange Group PLC |
144,461 | 12,619,631 | ||||||
|
Melrose Industries PLC |
3,474,409 | 6,874,001 | ||||||
|
Mondi PLC |
520,290 | 10,916,441 | ||||||
|
National Grid PLC |
2,390,113 | 36,136,998 | ||||||
|
NatWest Group PLC |
3,241,159 | 9,931,430 | ||||||
|
Next PLC |
79,926 | 7,318,214 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
15 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI EAFE ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
United Kingdom (continued) |
||||||||
|
Ocado Group PLC(a) |
415,434 | $ | 7,639,377 | |||||
|
Pearson PLC |
925,052 | 8,002,532 | ||||||
|
Prudential PLC |
894,675 | 13,526,113 | ||||||
|
Reckitt Benckiser Group PLC |
333,331 | 28,225,502 | ||||||
|
RELX PLC |
1,121,636 | 34,157,170 | ||||||
|
Rentokil Initial PLC |
1,114,103 | 7,560,705 | ||||||
|
Rolls-Royce Holdings PLC(a) |
4,581,993 | 6,320,680 | ||||||
|
Schroders PLC |
193,231 | 7,910,508 | ||||||
|
Segro PLC |
1,177,179 | 20,472,374 | ||||||
|
Smiths Group PLC |
361,678 | 7,378,439 | ||||||
|
SSE PLC |
721,657 | 16,377,806 | ||||||
|
St. James’s Place PLC |
371,820 | 6,970,859 | ||||||
|
Standard Chartered PLC |
1,268,205 | 9,037,990 | ||||||
|
Taylor Wimpey PLC |
3,651,196 | 7,359,366 | ||||||
|
Tesco PLC |
2,861,623 | 11,085,800 | ||||||
|
Unilever PLC |
1,164,533 | 58,496,788 | ||||||
|
Vodafone Group PLC |
12,236,196 | 21,539,844 | ||||||
|
Whitbread PLC(a) |
174,720 | 6,820,249 | ||||||
|
WPP PLC |
643,558 | 9,051,571 | ||||||
|
|
|
|||||||
| 1,040,514,990 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 99.1% |
7,235,618,084 | |||||||
|
|
|
|||||||
|
Preferred Stocks |
||||||||
|
Germany — 0.3% |
||||||||
|
Henkel AG & Co. KGaA, Preference Shares, NVS |
91,063 | 7,233,073 | ||||||
|
Sartorius AG, Preference Shares, NVS |
15,848 | 6,997,100 | ||||||
|
Volkswagen AG, Preference Shares, NVS |
41,065 | 8,197,695 | ||||||
|
|
|
|||||||
| 22,427,868 | ||||||||
|
|
|
|||||||
|
Total
Preferred Stocks — 0.3% |
22,427,868 | |||||||
|
|
|
|||||||
| Security | Shares | Value | ||||||
|
Short-Term Investments |
||||||||
|
Money Market Funds — 0.1% |
||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(d)(e)(f) |
7,493,310 | $ | 7,494,808 | |||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%(d)(e) |
1,610,000 | 1,610,000 | ||||||
|
|
|
|||||||
| 9,104,808 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 0.1% |
9,104,808 | |||||||
|
|
|
|||||||
|
Total
Investments in Securities — 99.5% |
7,267,150,760 | |||||||
|
Other Assets, Less Liabilities — 0.5% |
33,433,305 | |||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 7,300,584,065 | ||||||
|
|
|
|||||||
| (a) |
Non-income producing security. |
| (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) |
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 six months ended February 28, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||
| Affiliated Issuer | Value at 08/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 02/28/22 |
Shares Held at 02/28/22 |
Income |
Capital Gain |
|||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 11,009,959 | $ | — | $ | (3,508,968 | )(a) | $ | (5,864 | ) | $ | (319 | ) | $ | 7,494,808 | 7,493,310 | $ | 109,844 | (b) | $ | — | |||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
1,190,000 | 420,000 | (a) | — | — | — | 1,610,000 | 1,610,000 | 97 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | (5,864 | ) | $ | (319 | ) | $ | 9,104,808 | $ | 109,941 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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. |
| 16 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI EAFE ETF |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
|
|
||||||||||||||||
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
|
Long Contracts |
||||||||||||||||
|
TOPIX Index |
78 | 03/10/22 | $ | 12,850 | $ | (315,773 | ) | |||||||||
|
ASX SPI 200 Index |
43 | 03/17/22 | 5,501 | (107,885 | ) | |||||||||||
|
Euro STOXX 50 Index |
385 | 03/18/22 | 16,848 | (977,689 | ) | |||||||||||
|
FTSE 100 Index |
91 | 03/18/22 | 9,051 | 96,026 | ||||||||||||
|
|
|
|||||||||||||||
| $ | (1,305,321 | ) | ||||||||||||||
|
|
|
|||||||||||||||
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Assets — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized appreciation on futures contracts(a) |
$ | 96,026 | ||
|
|
|
|||
|
Liabilities — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized depreciation on futures contracts(a) |
$ | 1,401,347 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended February 28, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | 1,286,813 | ||
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | (1,767,449 | ) | |
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$ | 42,567,855 | ||
|
|
||||
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 |
17 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI EAFE 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 |
||||||||||||||||
|
Common Stocks |
$ | 42,373,404 | $ | 7,193,244,680 | $ | — | $ | 7,235,618,084 | ||||||||
|
Preferred Stocks |
— | 22,427,868 | — | 22,427,868 | ||||||||||||
|
Money Market Funds |
9,104,808 | — | — | 9,104,808 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 51,478,212 | $ | 7,215,672,548 | $ | — | $ | 7,267,150,760 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Futures Contracts |
$ | — | $ | 96,026 | $ | — | $ | 96,026 | ||||||||
|
Liabilities |
||||||||||||||||
|
Futures Contracts |
— | (1,401,347 | ) | — | (1,401,347 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | — | $ | (1,305,321 | ) | $ | — | $ | (1,305,321 | ) | |||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
| 18 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) February 28, 2022 |
iShares® ESG Aware MSCI USA ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
|
Aerospace & Defense — 1.3% |
||||||||
|
HEICO Corp., Class A |
203,385 | $ | 25,000,084 | |||||
|
Howmet Aerospace Inc. |
675,104 | 24,249,736 | ||||||
|
Huntington Ingalls Industries Inc. |
290,183 | 59,313,405 | ||||||
|
L3Harris Technologies Inc. |
310,125 | 78,247,639 | ||||||
|
Raytheon Technologies Corp. |
1,276,364 | 131,082,583 | ||||||
|
|
|
|||||||
| 317,893,447 | ||||||||
|
Air Freight & Logistics — 1.0% |
||||||||
|
CH Robinson Worldwide Inc. |
475,888 | 46,008,852 | ||||||
|
Expeditors International of Washington Inc. |
770,237 | 79,611,696 | ||||||
|
FedEx Corp. |
105,330 | 23,411,699 | ||||||
|
United Parcel Service Inc., Class B |
449,181 | 94,516,666 | ||||||
|
|
|
|||||||
| 243,548,913 | ||||||||
|
Auto Components — 0.3% |
||||||||
|
Aptiv PLC(a) |
362,067 | 46,865,953 | ||||||
|
BorgWarner Inc. |
533,426 | 21,875,800 | ||||||
|
|
|
|||||||
| 68,741,753 | ||||||||
|
Automobiles — 2.3% |
||||||||
|
Ford Motor Co. |
1,339,339 | 23,518,793 | ||||||
|
General Motors Co.(a) |
475,736 | 22,226,386 | ||||||
|
Lucid Group Inc.(a) |
831,774 | 24,104,810 | ||||||
|
Rivian Automotive Inc., Class A(a) |
364,096 | 24,598,326 | ||||||
|
Tesla Inc.(a) |
518,486 | 451,305,769 | ||||||
|
|
|
|||||||
| 545,754,084 | ||||||||
|
Banks — 4.0% |
||||||||
|
Bank of America Corp. |
4,511,505 | 199,408,521 | ||||||
|
Citigroup Inc. |
1,829,710 | 108,373,723 | ||||||
|
Fifth Third Bancorp |
487,519 | 23,322,909 | ||||||
|
Huntington Bancshares Inc./OH |
3,679,977 | 57,113,243 | ||||||
|
JPMorgan Chase & Co. |
2,061,121 | 292,266,958 | ||||||
|
PNC Financial Services Group Inc. (The) |
202,856 | 40,419,058 | ||||||
|
Regions Financial Corp. |
2,668,420 | 64,549,080 | ||||||
|
SVB Financial Group(a) |
50,346 | 30,509,676 | ||||||
|
Truist Financial Corp. |
1,140,430 | 70,957,555 | ||||||
|
U.S. Bancorp |
619,580 | 35,031,053 | ||||||
|
Webster Financial Corp. |
389,183 | 23,432,708 | ||||||
|
|
|
|||||||
| 945,384,484 | ||||||||
|
Beverages — 2.1% |
||||||||
|
Brown-Forman Corp., Class B, NVS |
362,184 | 23,625,262 | ||||||
|
Coca-Cola Co. (The) |
3,185,765 | 198,282,014 | ||||||
|
Keurig Dr Pepper Inc. |
1,148,111 | 44,397,452 | ||||||
|
Molson Coors Beverage Co., Class B |
591,597 | 30,869,532 | ||||||
|
PepsiCo Inc. |
1,244,761 | 203,817,166 | ||||||
|
|
|
|||||||
| 500,991,426 | ||||||||
|
Biotechnology — 2.0% |
||||||||
|
AbbVie Inc. |
902,675 | 133,388,285 | ||||||
|
Amgen Inc. |
441,763 | 100,050,484 | ||||||
|
Biogen Inc.(a) |
151,222 | 31,909,354 | ||||||
|
Exact Sciences Corp.(a) |
307,751 | 24,023,043 | ||||||
|
Gilead Sciences Inc. |
1,225,860 | 74,041,944 | ||||||
|
Moderna Inc.(a) |
180,743 | 27,762,125 | ||||||
|
Regeneron Pharmaceuticals Inc.(a) |
55,054 | 34,043,192 | ||||||
|
Vertex Pharmaceuticals Inc.(a) |
200,663 | 46,156,503 | ||||||
|
|
|
|||||||
| 471,374,930 | ||||||||
|
Building Products — 1.2% |
||||||||
|
Allegion PLC |
209,316 | 23,970,868 | ||||||
|
Carrier Global Corp. |
859,130 | 38,557,755 | ||||||
|
Fortune Brands Home & Security Inc. |
321,270 | 27,918,363 | ||||||
| Security | Shares | Value | ||||||
|
Building Products (continued) |
| |||||||
|
Johnson Controls International PLC |
1,613,973 | $ | 104,843,686 | |||||
|
Owens Corning |
239,341 | 22,304,188 | ||||||
|
Trane Technologies PLC |
443,743 | 68,305,360 | ||||||
|
|
|
|||||||
| 285,900,220 | ||||||||
|
Capital Markets — 3.7% |
||||||||
|
Ameriprise Financial Inc. |
77,285 | 23,169,270 | ||||||
|
Bank of New York Mellon Corp. (The) |
975,666 | 51,856,648 | ||||||
|
BlackRock Inc.(b) |
156,942 | 116,747,584 | ||||||
|
Charles Schwab Corp. (The) |
636,337 | 53,745,023 | ||||||
|
CME Group Inc. |
223,136 | 52,778,358 | ||||||
|
FactSet Research Systems Inc. |
58,501 | 23,756,671 | ||||||
|
Goldman Sachs Group Inc. (The) |
253,421 | 86,490,053 | ||||||
|
Intercontinental Exchange Inc. |
414,381 | 53,090,494 | ||||||
|
Moody’s Corp. |
225,616 | 72,655,121 | ||||||
|
Morgan Stanley |
1,240,095 | 112,526,220 | ||||||
|
Northern Trust Corp. |
381,104 | 43,407,746 | ||||||
|
S&P Global Inc. |
302,655 | 113,707,375 | ||||||
|
State Street Corp. |
281,612 | 24,029,952 | ||||||
|
T Rowe Price Group Inc. |
257,686 | 37,251,088 | ||||||
|
|
|
|||||||
| 865,211,603 | ||||||||
|
Chemicals — 1.8% |
||||||||
|
Corteva Inc. |
468,742 | 24,388,646 | ||||||
|
Dow Inc. |
791,260 | 46,652,690 | ||||||
|
DuPont de Nemours Inc. |
418,721 | 32,396,444 | ||||||
|
Ecolab Inc. |
484,991 | 85,484,514 | ||||||
|
International Flavors & Fragrances Inc. |
243,773 | 32,421,809 | ||||||
|
Linde PLC(a) |
383,998 | 112,603,573 | ||||||
|
Mosaic Co. (The) |
526,055 | 27,581,064 | ||||||
|
PPG Industries Inc. |
263,790 | 35,202,775 | ||||||
|
Sherwin-Williams Co. (The) |
88,476 | 23,280,690 | ||||||
|
|
|
|||||||
| 420,012,205 | ||||||||
|
Commercial Services & Supplies — 0.1% |
||||||||
|
Copart Inc.(a) |
190,126 | 23,362,683 | ||||||
|
|
|
|||||||
|
Communications Equipment — 0.9% |
||||||||
|
Cisco Systems Inc. |
3,437,613 | 191,715,677 | ||||||
|
Motorola Solutions Inc. |
148,967 | 32,836,796 | ||||||
|
|
|
|||||||
| 224,552,473 | ||||||||
|
Construction Materials — 0.1% |
||||||||
|
Martin Marietta Materials Inc. |
61,683 | 23,402,530 | ||||||
|
|
|
|||||||
|
Consumer Finance — 0.9% |
||||||||
|
Ally Financial Inc. |
478,221 | 23,863,228 | ||||||
|
American Express Co. |
532,720 | 103,635,349 | ||||||
|
Discover Financial Services |
357,762 | 44,162,141 | ||||||
|
Synchrony Financial |
838,868 | 35,886,773 | ||||||
|
|
|
|||||||
| 207,547,491 | ||||||||
|
Containers & Packaging — 0.4% |
||||||||
|
Amcor PLC |
3,833,787 | 44,586,943 | ||||||
|
Ball Corp. |
481,004 | 43,165,299 | ||||||
|
|
|
|||||||
| 87,752,242 | ||||||||
|
Distributors — 0.2% |
||||||||
|
LKQ Corp. |
591,457 | 27,768,906 | ||||||
|
Pool Corp. |
52,418 | 24,037,847 | ||||||
|
|
|
|||||||
| 51,806,753 | ||||||||
|
Diversified Financial Services — 0.6% |
||||||||
|
Berkshire Hathaway Inc., Class B(a) |
438,761 | 141,039,723 | ||||||
|
|
|
|||||||
|
S C H E D U L E O F I N V E S T M E N T S |
19 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Diversified Telecommunication Services — 1.1% |
| |||||||
|
AT&T Inc. |
3,059,987 | $ | 72,491,092 | |||||
|
Lumen Technologies Inc. |
2,446,397 | 25,344,673 | ||||||
|
Verizon Communications Inc. |
3,121,420 | 167,526,611 | ||||||
|
|
|
|||||||
| 265,362,376 | ||||||||
|
Electric Utilities — 1.2% |
| |||||||
|
Entergy Corp. |
313,288 | 32,961,030 | ||||||
|
Eversource Energy |
955,749 | 78,180,268 | ||||||
|
Exelon Corp. |
1,047,916 | 44,599,305 | ||||||
|
NextEra Energy Inc. |
1,558,236 | 121,963,132 | ||||||
|
|
|
|||||||
| 277,703,735 | ||||||||
|
Electrical Equipment — 0.3% |
| |||||||
|
Generac Holdings Inc.(a)(c) |
76,228 | 24,047,647 | ||||||
|
Plug Power Inc.(a)(c) |
1,009,266 | 25,524,337 | ||||||
|
Rockwell Automation Inc. |
88,353 | 23,553,143 | ||||||
|
|
|
|||||||
| 73,125,127 | ||||||||
|
Electronic Equipment, Instruments & Components — 0.6% |
| |||||||
|
Cognex Corp. |
376,193 | 25,415,599 | ||||||
|
Keysight Technologies Inc.(a) |
188,022 | 29,589,022 | ||||||
|
Teledyne Technologies Inc.(a) |
56,562 | 24,286,592 | ||||||
|
Trimble Inc.(a) |
582,410 | 40,623,097 | ||||||
|
Zebra Technologies Corp., Class A(a) |
55,971 | 23,135,053 | ||||||
|
|
|
|||||||
| 143,049,363 | ||||||||
|
Energy Equipment & Services — 0.4% |
| |||||||
|
Baker Hughes Co. |
923,972 | 27,146,297 | ||||||
|
Halliburton Co. |
718,543 | 24,092,747 | ||||||
|
Schlumberger NV |
1,327,814 | 52,103,421 | ||||||
|
|
|
|||||||
| 103,342,465 | ||||||||
|
Entertainment — 1.5% |
| |||||||
|
Activision Blizzard Inc. |
309,920 | 25,258,480 | ||||||
|
Electronic Arts Inc. |
293,646 | 38,200,408 | ||||||
|
Netflix Inc.(a) |
231,727 | 91,420,936 | ||||||
|
Walt Disney Co. (The)(a) |
1,290,867 | 191,642,115 | ||||||
|
|
|
|||||||
| 346,521,939 | ||||||||
|
Equity Real Estate Investment Trusts (REITs) — 2.7% |
| |||||||
|
Alexandria Real Estate Equities Inc. |
128,931 | 24,419,531 | ||||||
|
American Tower Corp. |
422,698 | 95,897,495 | ||||||
|
Boston Properties Inc. |
309,586 | 37,865,464 | ||||||
|
Crown Castle International Corp. |
357,837 | 59,612,066 | ||||||
|
Digital Realty Trust Inc. |
188,710 | 25,460,753 | ||||||
|
Equinix Inc. |
86,143 | 61,138,271 | ||||||
|
Healthpeak Properties Inc. |
1,805,803 | 56,088,241 | ||||||
|
Iron Mountain Inc. |
543,687 | 26,738,527 | ||||||
|
Prologis Inc. |
550,196 | 80,246,087 | ||||||
|
SBA Communications Corp. |
79,390 | 24,086,132 | ||||||
|
Simon Property Group Inc. |
167,674 | 23,065,235 | ||||||
|
Ventas Inc. |
669,911 | 36,175,194 | ||||||
|
Welltower Inc. |
560,443 | 46,679,298 | ||||||
|
Weyerhaeuser Co. |
905,139 | 35,191,804 | ||||||
|
|
|
|||||||
| 632,664,098 | ||||||||
|
Food & Staples Retailing — 0.8% |
| |||||||
|
Costco Wholesale Corp. |
178,325 | 92,595,256 | ||||||
|
Kroger Co. (The) |
970,058 | 45,398,715 | ||||||
|
Sysco Corp. |
281,901 | 24,553,577 | ||||||
|
Walgreens Boots Alliance Inc. |
503,789 | 23,219,635 | ||||||
|
|
|
|||||||
| 185,767,183 | ||||||||
|
Food Products — 1.5% |
| |||||||
|
Archer-Daniels-Midland Co. |
722,897 | 56,711,270 | ||||||
|
Bunge Ltd. |
489,687 | 51,196,776 | ||||||
| Security | Shares | Value | ||||||
|
Food Products (continued) |
| |||||||
|
General Mills Inc. |
1,304,328 | $ | 87,950,837 | |||||
|
Hormel Foods Corp. |
599,938 | 28,581,046 | ||||||
|
Kellogg Co. |
1,306,469 | 83,535,628 | ||||||
|
McCormick & Co. Inc./MD, NVS |
500,094 | 47,593,946 | ||||||
|
|
|
|||||||
| 355,569,503 | ||||||||
|
Gas Utilities — 0.2% |
||||||||
|
UGI Corp. |
1,067,245 | 41,024,898 | ||||||
|
|
|
|||||||
|
Health Care Equipment & Supplies — 2.4% |
| |||||||
|
Abbott Laboratories |
695,934 | 83,943,559 | ||||||
|
ABIOMED Inc.(a) |
74,124 | 23,033,292 | ||||||
|
Align Technology Inc.(a) |
45,825 | 23,437,655 | ||||||
|
Baxter International Inc. |
351,104 | 29,833,307 | ||||||
|
Becton Dickinson and Co. |
88,965 | 24,134,425 | ||||||
|
Dexcom Inc.(a)(c) |
89,506 | 37,047,428 | ||||||
|
Edwards Lifesciences Corp.(a) |
679,261 | 76,328,559 | ||||||
|
Hologic Inc.(a) |
439,350 | 31,268,539 | ||||||
|
IDEXX Laboratories Inc.(a) |
106,921 | 56,919,394 | ||||||
|
Insulet Corp.(a) |
130,225 | 34,469,255 | ||||||
|
Intuitive Surgical Inc.(a) |
188,051 | 54,596,847 | ||||||
|
ResMed Inc. |
152,872 | 37,721,166 | ||||||
|
STERIS PLC |
244,995 | 58,798,800 | ||||||
|
|
|
|||||||
| 571,532,226 | ||||||||
|
Health Care Providers & Services — 2.7% |
| |||||||
|
Anthem Inc. |
166,153 | 75,076,233 | ||||||
|
Cardinal Health Inc. |
442,306 | 23,888,947 | ||||||
|
Centene Corp.(a) |
286,409 | 23,663,112 | ||||||
|
Cigna Corp. |
260,756 | 62,002,562 | ||||||
|
CVS Health Corp. |
774,851 | 80,313,306 | ||||||
|
DaVita Inc.(a) |
201,013 | 22,668,236 | ||||||
|
HCA Healthcare Inc. |
175,830 | 44,012,007 | ||||||
|
Humana Inc. |
87,130 | 37,842,302 | ||||||
|
Laboratory Corp. of America Holdings(a) |
97,175 | 26,359,690 | ||||||
|
McKesson Corp. |
87,453 | 24,046,077 | ||||||
|
Quest Diagnostics Inc. |
220,324 | 28,921,931 | ||||||
|
UnitedHealth Group Inc. |
423,339 | 201,454,330 | ||||||
|
|
|
|||||||
| 650,248,733 | ||||||||
|
Health Care Technology — 0.3% |
| |||||||
|
Cerner Corp. |
468,631 | 43,699,841 | ||||||
|
Teladoc Health Inc.(a)(c) |
326,983 | 24,821,279 | ||||||
|
|
|
|||||||
| 68,521,120 | ||||||||
|
Hotels, Restaurants & Leisure — 1.8% |
| |||||||
|
Airbnb Inc., Class A(a) |
129,241 | 19,578,719 | ||||||
|
Booking Holdings Inc.(a) |
22,823 | 49,577,262 | ||||||
|
Caesars Entertainment Inc.(a) |
282,388 | 23,774,246 | ||||||
|
Chipotle Mexican Grill Inc.(a) |
15,311 | 23,324,012 | ||||||
|
Hilton Worldwide Holdings Inc.(a) |
395,605 | 58,889,760 | ||||||
|
Las Vegas Sands Corp.(a) |
506,647 | 21,714,890 | ||||||
|
Marriott International Inc./MD, Class A(a) |
131,627 | 22,395,018 | ||||||
|
McDonald’s Corp. |
346,339 | 84,773,397 | ||||||
|
MGM Resorts International |
534,046 | 23,652,897 | ||||||
|
Royal Caribbean Cruises Ltd.(a) |
277,066 | 22,364,768 | ||||||
|
Starbucks Corp. |
475,406 | 43,637,517 | ||||||
|
Vail Resorts Inc. |
105,919 | 27,597,195 | ||||||
|
|
|
|||||||
| 421,279,681 | ||||||||
|
Household Products — 1.7% |
| |||||||
|
Clorox Co. (The) |
170,734 | 24,891,310 | ||||||
|
Colgate-Palmolive Co. |
1,117,631 | 86,001,705 | ||||||
|
Kimberly-Clark Corp. |
543,661 | 70,757,479 | ||||||
| 20 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Household Products (continued) | ||||||||
|
Procter & Gamble Co. (The) |
1,362,132 | $ | 212,342,758 | |||||
|
|
|
|||||||
| 393,993,252 | ||||||||
| Industrial Conglomerates — 1.3% | ||||||||
|
3M Co. |
720,181 | 107,054,906 | ||||||
|
General Electric Co. |
442,363 | 42,250,090 | ||||||
|
Honeywell International Inc. |
583,338 | 110,688,385 | ||||||
|
Roper Technologies Inc. |
89,457 | 40,096,417 | ||||||
|
|
|
|||||||
| 300,089,798 | ||||||||
|
Insurance — 1.8% |
||||||||
|
American International Group Inc. |
767,115 | 46,978,123 | ||||||
|
Chubb Ltd. |
364,632 | 74,253,660 | ||||||
|
Hartford Financial Services Group Inc. (The) |
338,689 | 23,532,112 | ||||||
|
Marsh & McLennan Companies Inc. |
475,357 | 73,875,231 | ||||||
|
MetLife Inc. |
1,203,361 | 81,287,036 | ||||||
|
Progressive Corp. (The) |
240,201 | 25,444,492 | ||||||
|
Prudential Financial Inc. |
423,673 | 47,307,327 | ||||||
|
Travelers Companies Inc. (The) |
290,748 | 49,959,229 | ||||||
|
|
|
|||||||
| 422,637,210 | ||||||||
|
Interactive Media & Services — 5.2% |
||||||||
|
Alphabet Inc., Class A(a) |
172,674 | 466,416,648 | ||||||
|
Alphabet Inc., Class C, NVS(a) |
170,745 | 460,639,276 | ||||||
|
Meta Platforms Inc, Class A(a) |
1,209,428 | 255,225,591 | ||||||
|
Snap Inc., Class A, NVS(a) |
638,588 | 25,505,205 | ||||||
|
ZoomInfo Technologies Inc.(a) |
429,055 | 23,465,018 | ||||||
|
|
|
|||||||
| 1,231,251,738 | ||||||||
|
Internet & Direct Marketing Retail — 3.8% |
|
|||||||
|
Amazon.com Inc.(a) |
271,514 | 833,890,087 | ||||||
|
eBay Inc. |
418,434 | 22,842,312 | ||||||
|
MercadoLibre Inc.(a)(c) |
31,201 | 35,152,607 | ||||||
|
|
|
|||||||
| 891,885,006 | ||||||||
|
IT Services — 5.0% |
||||||||
|
Accenture PLC, Class A |
435,987 | 137,780,612 | ||||||
|
Akamai Technologies Inc.(a)(c) |
230,036 | 24,903,697 | ||||||
|
Automatic Data Processing Inc. |
552,298 | 112,911,803 | ||||||
|
Block Inc.(a) |
349,018 | 44,499,795 | ||||||
|
Cloudflare Inc., Class A(a) |
215,391 | 25,075,820 | ||||||
|
Fidelity National Information Services Inc. |
496,577 | 47,289,028 | ||||||
|
Fiserv Inc.(a)(c) |
304,945 | 29,783,978 | ||||||
|
Gartner Inc.(a) |
80,883 | 22,681,211 | ||||||
|
International Business Machines Corp. |
707,842 | 86,717,723 | ||||||
|
Mastercard Inc., Class A |
542,203 | 195,637,687 | ||||||
|
MongoDB Inc.(a) |
55,307 | 21,126,721 | ||||||
|
Okta Inc.(a) |
171,774 | 31,407,158 | ||||||
|
PayPal Holdings Inc.(a) |
722,731 | 80,895,281 | ||||||
|
Snowflake Inc., Class A(a) |
137,741 | 36,592,274 | ||||||
|
Twilio Inc., Class A(a) |
179,701 | 31,411,735 | ||||||
|
VeriSign Inc.(a) |
113,648 | 24,288,851 | ||||||
|
Visa Inc., Class A |
1,041,561 | 225,102,163 | ||||||
|
|
|
|||||||
| 1,178,105,537 | ||||||||
|
Leisure Products — 0.2% |
||||||||
|
Hasbro Inc. |
524,946 | 50,946,009 | ||||||
|
|
|
|||||||
|
Life Sciences Tools & Services — 2.0% |
||||||||
|
Agilent Technologies Inc. |
533,480 | 69,544,453 | ||||||
|
Danaher Corp. |
302,797 | 83,090,525 | ||||||
|
Illumina Inc.(a) |
129,063 | 42,151,976 | ||||||
|
IQVIA Holdings Inc.(a) |
103,893 | 23,907,857 | ||||||
|
Mettler-Toledo International Inc.(a) |
32,311 | 45,517,798 | ||||||
|
Thermo Fisher Scientific Inc. |
196,058 | 106,655,552 | ||||||
| Security | Shares | Value | ||||||
| Life Sciences Tools & Services (continued) | ||||||||
|
Waters Corp.(a) |
153,799 | $ | 48,712,757 | |||||
|
West Pharmaceutical Services Inc. |
153,627 | 59,465,939 | ||||||
|
|
|
|||||||
| 479,046,857 | ||||||||
|
Machinery — 1.5% |
||||||||
|
Caterpillar Inc. |
368,095 | 69,047,260 | ||||||
|
Cummins Inc. |
179,853 | 36,711,594 | ||||||
|
Deere & Co. |
169,192 | 60,912,504 | ||||||
|
Dover Corp. |
148,031 | 23,220,143 | ||||||
|
IDEX Corp. |
175,682 | 33,713,376 | ||||||
|
Illinois Tool Works Inc. |
176,216 | 38,122,569 | ||||||
|
Pentair PLC |
409,839 | 23,733,777 | ||||||
|
Xylem Inc./NY |
689,895 | 61,366,160 | ||||||
|
|
|
|||||||
| 346,827,383 | ||||||||
|
Media — 0.9% |
||||||||
|
Cable One Inc. |
16,010 | 22,939,929 | ||||||
|
Comcast Corp., Class A |
2,076,912 | 97,116,405 | ||||||
|
Discovery Inc., Class C, NVS(a) |
823,822 | 23,042,301 | ||||||
|
Fox Corp., Class A, NVS |
560,833 | 23,459,644 | ||||||
|
Interpublic Group of Companies Inc. (The) |
846,422 | 31,148,330 | ||||||
|
Paramount Global, Class B, NVS |
815,466 | 24,961,414 | ||||||
|
|
|
|||||||
| 222,668,023 | ||||||||
|
Metals & Mining — 0.3% |
||||||||
|
Newmont Corp. |
739,331 | 48,943,712 | ||||||
|
Nucor Corp. |
196,654 | 25,883,600 | ||||||
|
|
|
|||||||
| 74,827,312 | ||||||||
|
Multi-Utilities — 0.8% |
||||||||
|
Consolidated Edison Inc. |
630,261 | 54,057,486 | ||||||
|
Public Service Enterprise Group Inc. |
1,102,779 | 71,493,163 | ||||||
|
Sempra Energy |
376,569 | 54,308,781 | ||||||
|
|
|
|||||||
| 179,859,430 | ||||||||
|
Multiline Retail — 0.3% |
||||||||
|
Target Corp. |
399,231 | 79,754,377 | ||||||
|
|
|
|||||||
|
Oil, Gas & Consumable Fuels — 3.2% |
||||||||
|
Cheniere Energy Inc. |
281,517 | 37,413,609 | ||||||
|
Chevron Corp. |
946,058 | 136,232,352 | ||||||
|
ConocoPhillips |
952,244 | 90,329,866 | ||||||
|
EOG Resources Inc. |
317,065 | 36,437,110 | ||||||
|
Exxon Mobil Corp. |
2,157,759 | 169,211,461 | ||||||
|
Hess Corp. |
706,332 | 71,381,912 | ||||||
|
Kinder Morgan Inc. |
1,847,164 | 32,140,654 | ||||||
|
Marathon Petroleum Corp. |
442,862 | 34,485,664 | ||||||
|
Occidental Petroleum Corp. |
608,360 | 26,603,583 | ||||||
|
ONEOK Inc. |
552,163 | 36,056,244 | ||||||
|
Phillips 66 |
273,177 | 23,012,430 | ||||||
|
Pioneer Natural Resources Co. |
126,642 | 30,343,423 | ||||||
|
Valero Energy Corp. |
374,318 | 31,259,296 | ||||||
|
|
|
|||||||
| 754,907,604 | ||||||||
|
Personal Products — 0.1% |
||||||||
|
Estee Lauder Companies Inc. (The), Class A |
100,895 | 29,898,215 | ||||||
|
|
|
|||||||
|
Pharmaceuticals — 3.3% |
||||||||
|
Bristol-Myers Squibb Co. |
1,434,605 | 98,514,325 | ||||||
|
Catalent Inc.(a) |
241,384 | 24,630,824 | ||||||
|
Eli Lilly & Co. |
480,644 | 120,136,968 | ||||||
|
Johnson & Johnson |
1,267,176 | 208,539,154 | ||||||
|
Merck & Co. Inc. |
1,674,454 | 128,229,687 | ||||||
|
Pfizer Inc. |
2,281,683 | 107,102,200 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
21 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Pharmaceuticals (continued) | ||||||||
|
Zoetis Inc. |
500,862 | $ | 96,991,926 | |||||
|
|
|
|||||||
| 784,145,084 | ||||||||
|
Professional Services — 0.3% |
||||||||
|
Leidos Holdings Inc. |
348,659 | 35,507,433 | ||||||
|
Robert Half International Inc. |
279,559 | 33,628,152 | ||||||
|
|
|
|||||||
| 69,135,585 | ||||||||
|
Real Estate Management & Development — 0.2% |
| |||||||
|
CBRE Group Inc., Class A(a) |
559,196 | 54,158,133 | ||||||
|
|
|
|||||||
|
Road & Rail — 0.9% |
||||||||
|
CSX Corp. |
967,896 | 32,821,353 | ||||||
|
Norfolk Southern Corp. |
153,520 | 39,380,951 | ||||||
|
Old Dominion Freight Line Inc. |
81,144 | 25,481,650 | ||||||
|
Uber Technologies Inc.(a)(c) |
1,191,312 | 42,922,972 | ||||||
|
Union Pacific Corp. |
302,458 | 74,389,545 | ||||||
|
|
|
|||||||
| 214,996,471 | ||||||||
|
Semiconductors & Semiconductor Equipment — 5.9% |
| |||||||
|
Advanced Micro Devices Inc.(a) |
980,793 | 120,971,009 | ||||||
|
Analog Devices Inc. |
167,350 | 26,824,531 | ||||||
|
Applied Materials Inc. |
822,063 | 110,320,855 | ||||||
|
Broadcom Inc. |
134,859 | 79,221,571 | ||||||
|
Intel Corp. |
3,042,355 | 145,120,333 | ||||||
|
Lam Research Corp. |
139,766 | 78,457,644 | ||||||
|
Marvell Technology Inc. |
577,670 | 39,472,191 | ||||||
|
Micron Technology Inc. |
599,953 | 53,311,824 | ||||||
|
NVIDIA Corp. |
1,612,470 | 393,200,809 | ||||||
|
NXP Semiconductors NV |
323,163 | 61,439,750 | ||||||
|
ON Semiconductor Corp.(a) |
407,141 | 25,491,098 | ||||||
|
QUALCOMM Inc. |
448,166 | 77,080,070 | ||||||
|
Skyworks Solutions Inc. |
172,051 | 23,772,287 | ||||||
|
Texas Instruments Inc. |
965,251 | 164,083,017 | ||||||
|
|
|
|||||||
| 1,398,766,989 | ||||||||
|
Software — 9.8% |
||||||||
|
Adobe Inc.(a) |
397,049 | 185,691,876 | ||||||
|
ANSYS Inc.(a) |
120,864 | 39,182,900 | ||||||
|
Autodesk Inc.(a) |
183,820 | 40,482,679 | ||||||
|
Bill.com Holdings Inc.(a)(c) |
93,893 | 22,335,267 | ||||||
|
Cadence Design Systems Inc.(a) |
209,409 | 31,710,805 | ||||||
|
Crowdstrike Holdings Inc., Class A(a) |
131,609 | 25,691,393 | ||||||
|
Datadog Inc., Class A(a) |
138,694 | 22,344,990 | ||||||
|
DocuSign Inc.(a) |
200,779 | 23,778,257 | ||||||
|
HubSpot Inc.(a) |
44,442 | 23,332,050 | ||||||
|
Intuit Inc. |
213,801 | 101,420,780 | ||||||
|
Microsoft Corp. |
4,490,181 | 1,341,621,181 | ||||||
|
Oracle Corp. |
852,277 | 64,747,484 | ||||||
|
Paycom Software Inc.(a) |
70,024 | 23,752,841 | ||||||
|
RingCentral Inc., Class A(a) |
146,243 | 19,134,434 | ||||||
|
salesforce.com Inc.(a) |
689,567 | 145,174,541 | ||||||
|
ServiceNow Inc.(a) |
161,509 | 93,662,299 | ||||||
|
Splunk Inc.(a) |
195,243 | 23,058,198 | ||||||
|
Synopsys Inc.(a) |
104,004 | 32,489,810 | ||||||
|
VMware Inc., Class A |
249,942 | 29,323,195 | ||||||
|
Workday Inc., Class A(a) |
133,102 | 30,487,013 | ||||||
|
|
|
|||||||
| 2,319,421,993 | ||||||||
| Security | Shares | Value | ||||||
|
|
||||||||
| Specialty Retail — 2.2% | ||||||||
|
Best Buy Co. Inc. |
471,222 | $ | 45,538,894 | |||||
|
CarMax Inc.(a)(c) |
220,128 | 24,066,594 | ||||||
|
Home Depot Inc. (The) |
747,437 | 236,063,028 | ||||||
|
Lowe’s Companies Inc. |
553,080 | 122,263,865 | ||||||
|
TJX Companies Inc. (The) |
603,350 | 39,881,435 | ||||||
|
Tractor Supply Co. |
125,778 | 25,632,299 | ||||||
|
Ulta Beauty Inc.(a) |
63,613 | 23,823,068 | ||||||
|
|
|
|||||||
| 517,269,183 | ||||||||
|
Technology Hardware, Storage & Peripherals — 7.2% |
| |||||||
|
Apple Inc. |
9,782,346 | 1,615,260,971 | ||||||
|
Dell Technologies Inc., Class C(a) |
400,091 | 20,388,637 | ||||||
|
Hewlett Packard Enterprise Co. |
1,891,938 | 30,119,653 | ||||||
|
HP Inc. |
861,975 | 29,617,461 | ||||||
|
Seagate Technology Holdings PLC |
215,660 | 22,247,486 | ||||||
|
|
|
|||||||
| 1,717,634,208 | ||||||||
|
Textiles, Apparel & Luxury Goods — 0.7% |
| |||||||
|
Lululemon Athletica Inc.(a) |
75,371 | 24,114,198 | ||||||
|
Nike Inc., Class B |
754,609 | 103,041,859 | ||||||
|
VF Corp. |
656,711 | 38,102,372 | ||||||
|
|
|
|||||||
| 165,258,429 | ||||||||
|
Trading Companies & Distributors — 0.4% |
| |||||||
|
Fastenal Co. |
512,741 | 26,385,652 | ||||||
|
WW Grainger Inc. |
155,705 | 74,280,627 | ||||||
|
|
|
|||||||
| 100,666,279 | ||||||||
|
Water Utilities — 0.2% |
||||||||
|
American Water Works Co. Inc. |
174,469 | 26,360,521 | ||||||
|
Essential Utilities Inc. |
533,780 | 25,146,376 | ||||||
|
|
|
|||||||
| 51,506,897 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 99.6% |
|
23,589,646,409 | ||||||
|
|
|
|||||||
|
Short-Term Investments |
||||||||
|
Money Market Funds — 0.9% |
||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(b)(d)(e) |
96,789,508 | 96,808,866 | ||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%(b)(d) |
115,038,000 | 115,038,000 | ||||||
|
|
|
|||||||
| 211,846,866 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 0.9% |
|
211,846,866 | ||||||
|
|
|
|||||||
|
Total
Investments in Securities — 100.5% |
|
23,801,493,275 | ||||||
|
Other Assets, Less Liabilities — (0.5)% |
|
(108,835,141 | ) | |||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 23,692,658,134 | ||||||
|
|
|
|||||||
| (a) |
Non-income producing security. |
| (b) |
Affiliate of the Fund. |
| (c) |
All or a portion of this security is on loan. |
| (d) |
Annualized 7-day yield as of period end. |
| (e) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
| 22 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended February 28, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||||||
| Affiliated Issuer | Value at 08/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 02/28/22 |
Shares Held at 02/28/22 |
Income |
Capital Gain |
| ||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 47,556,080 | $ | 49,287,651 | (a) | $ | — | $ | (34,663 | ) | $ | (202 | ) | $ | 96,808,866 | 96,789,508 | $ | 122,025 | (b) | $ | — | |||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
84,248,000 | 30,790,000 | (a) | — | — | — | 115,038,000 | 115,038,000 | 5,241 | — | ||||||||||||||||||||||||||||||
|
BlackRock Inc. |
124,336,941 | 29,840,454 | (6,984,757 | ) | 2,991,663 | (33,436,717 | ) | 116,747,584 | 156,942 | 1,171,772 | — | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| $ | 2,957,000 | $ | (33,436,919 | ) | $ | 328,594,450 | $ | 1,299,038 | $ | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| (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 Outstanding as of Period End
Futures Contracts
|
|
||||||||||||||||
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
|
Long Contracts |
||||||||||||||||
|
S&P 500 E-Mini Index |
447 | 03/18/22 | $ | 97,625 | $ | (5,198,812 | ) | |||||||||
|
|
|
|||||||||||||||
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Liabilities — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized depreciation on futures contracts(a) |
$ | 5,198,812 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended February 28, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | 1,588,992 | ||
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | (8,106,665 | ) | |
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$ | 97,010,396 | ||
|
|
||||
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
|
S C H E D U L E O F I N V E S T M E N T S |
23 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA ETF |
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 |
||||||||||||||||
|
Common Stocks |
$ | 23,589,646,409 | $ | — | $ | — | $ | 23,589,646,409 | ||||||||
|
Money Market Funds |
211,846,866 | — | — | 211,846,866 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 23,801,493,275 | $ | — | $ | — | $ | 23,801,493,275 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Liabilities |
||||||||||||||||
|
Futures Contracts |
$ | (5,198,812 | ) | $ | — | $ | — | $ | (5,198,812 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
| 24 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
| Aerospace & Defense — 1.9% | ||||||||
|
AAR Corp.(a) |
18,176 | $ | 816,829 | |||||
|
Aerovironment Inc.(a) |
12,948 | 919,955 | ||||||
|
Axon Enterprise Inc.(a) |
25,110 | 3,521,678 | ||||||
|
BWX Technologies Inc. |
68,293 | 3,648,212 | ||||||
|
Curtiss-Wright Corp. |
20,952 | 3,090,839 | ||||||
|
Ducommun Inc.(a) |
18,333 | 926,000 | ||||||
|
Hexcel Corp. |
34,561 | 2,001,082 | ||||||
|
Kaman Corp. |
28,200 | 1,224,162 | ||||||
|
Kratos Defense & Security Solutions Inc.(a) |
62,258 | 1,302,437 | ||||||
|
Maxar Technologies Inc. |
37,011 | 1,200,637 | ||||||
|
Mercury Systems Inc.(a) |
42,541 | 2,561,819 | ||||||
|
Moog Inc., Class A |
20,120 | 1,672,173 | ||||||
|
Spirit AeroSystems Holdings Inc., Class A |
15,906 | 795,300 | ||||||
|
Triumph Group Inc.(a) |
32,613 | 816,630 | ||||||
|
Vectrus Inc.(a) |
22,190 | 1,017,190 | ||||||
|
Virgin Galactic Holdings Inc.(a) |
77,846 | 753,549 | ||||||
|
Woodward Inc. |
16,848 | 2,099,766 | ||||||
|
|
|
|||||||
| 28,368,258 | ||||||||
| Air Freight & Logistics — 0.3% | ||||||||
|
GXO Logistics Inc.(a) |
39,589 | 3,322,705 | ||||||
|
Hub Group Inc., Class A(a) |
16,905 | 1,426,782 | ||||||
|
|
|
|||||||
| 4,749,487 | ||||||||
| Airlines — 0.2% | ||||||||
|
Alaska Air Group Inc.(a) |
45,705 | 2,565,878 | ||||||
|
JetBlue Airways Corp.(a) |
60,336 | 921,331 | ||||||
|
|
|
|||||||
| 3,487,209 | ||||||||
| Auto Components — 1.2% | ||||||||
|
Adient PLC(a) |
18,801 | 841,345 | ||||||
|
American
Axle & Manufacturing Holdings |
93,045 | 861,597 | ||||||
|
Autoliv Inc. |
19,388 | 1,706,338 | ||||||
|
Dana Inc. |
64,222 | 1,195,813 | ||||||
|
Dorman Products Inc.(a) |
8,339 | 779,029 | ||||||
|
Fox Factory Holding Corp.(a) |
10,334 | 1,219,619 | ||||||
|
Gentex Corp. |
24,499 | 741,585 | ||||||
|
Gentherm Inc.(a) |
22,730 | 1,928,413 | ||||||
|
Goodyear Tire & Rubber Co. (The)(a) |
67,385 | 1,043,794 | ||||||
|
LCI Industries |
13,340 | 1,661,097 | ||||||
|
Luminar Technologies Inc.(a)(b) |
53,754 | 754,168 | ||||||
|
Modine Manufacturing Co.(a) |
72,387 | 731,109 | ||||||
|
Veoneer Inc.(a) |
35,816 | 1,269,677 | ||||||
|
Visteon Corp.(a) |
18,717 | 2,249,222 | ||||||
|
XPEL Inc.(a) |
11,315 | 821,469 | ||||||
|
|
|
|||||||
| 17,804,275 | ||||||||
| Automobiles — 0.4% | ||||||||
|
Canoo Inc.(a)(b) |
124,782 | 716,249 | ||||||
|
Fisker Inc.(a)(b) |
60,526 | 738,417 | ||||||
|
Harley-Davidson Inc. |
64,175 | 2,650,427 | ||||||
|
Thor Industries Inc. |
21,816 | 1,974,348 | ||||||
|
Winnebago Industries Inc. |
11,610 | 743,853 | ||||||
|
|
|
|||||||
| 6,823,294 | ||||||||
| Banks — 8.2% | ||||||||
|
Amalgamated Financial Corp. |
50,428 | 865,849 | ||||||
|
Amerant Bancorp Inc. |
24,149 | 783,635 | ||||||
|
Ameris Bancorp |
30,226 | 1,496,187 | ||||||
|
Associated Banc-Corp. |
43,324 | 1,056,672 | ||||||
|
Atlantic Union Bankshares Corp. |
63,231 | 2,569,075 | ||||||
|
Bancorp. Inc. (The)(a) |
21,386 | 626,610 | ||||||
| Security | Shares | Value | ||||||
|
Banks (continued) |
||||||||
|
Bank of Hawaii Corp. |
37,803 | $ | 3,257,863 | |||||
|
Bank OZK |
80,025 | 3,762,775 | ||||||
|
Banner Corp. |
21,858 | 1,346,671 | ||||||
|
Berkshire Hills Bancorp. Inc. |
21,445 | 666,939 | ||||||
|
BOK Financial Corp. |
18,539 | 1,903,955 | ||||||
|
Byline Bancorp Inc. |
32,074 | 874,658 | ||||||
|
Cadence Bank |
57,935 | 1,831,905 | ||||||
|
Camden National Corp. |
29,504 | 1,402,915 | ||||||
|
Cathay General Bancorp |
28,165 | 1,324,600 | ||||||
|
Columbia Banking System Inc. |
17,293 | 633,443 | ||||||
|
Comerica Inc. |
78,294 | 7,476,294 | ||||||
|
Commerce Bancshares Inc. |
49,333 | 3,541,123 | ||||||
|
Community Bank System Inc. |
20,512 | 1,496,145 | ||||||
|
Community Trust Bancorp. Inc. |
27,393 | 1,158,176 | ||||||
|
Cullen/Frost Bankers Inc. |
17,659 | 2,485,151 | ||||||
|
Customers Bancorp. Inc.(a) |
12,049 | 741,616 | ||||||
|
East West Bancorp. Inc. |
43,874 | 3,841,607 | ||||||
|
Eastern Bankshares Inc. |
88,372 | 1,931,812 | ||||||
|
First Busey Corp. |
46,920 | 1,287,954 | ||||||
|
First Financial Bancorp |
32,888 | 808,387 | ||||||
|
First Hawaiian Inc. |
75,853 | 2,205,047 | ||||||
|
First Horizon Corp. |
196,637 | 4,617,037 | ||||||
|
First Interstate BancSystem Inc., Class A |
52,682 | 2,138,889 | ||||||
|
First of Long Island Corp. (The) |
40,001 | 870,822 | ||||||
|
FNB Corp. |
132,549 | 1,780,133 | ||||||
|
Fulton Financial Corp. |
115,129 | 2,074,625 | ||||||
|
Glacier Bancorp. Inc. |
36,931 | 2,045,977 | ||||||
|
Hancock Whitney Corp. |
47,595 | 2,650,090 | ||||||
|
Heritage Financial Corp./WA |
26,325 | 690,241 | ||||||
|
HomeStreet Inc. |
23,669 | 1,218,007 | ||||||
|
Independent Bank Corp. |
14,148 | 1,216,869 | ||||||
|
Independent Bank Corp./MI |
40,255 | 958,069 | ||||||
|
International Bancshares Corp. |
44,932 | 1,932,525 | ||||||
|
Live Oak Bancshares Inc. |
12,087 | 772,964 | ||||||
|
National Bank Holdings Corp., Class A |
15,973 | 708,882 | ||||||
|
OceanFirst Financial Corp. |
42,049 | 941,057 | ||||||
|
PacWest Bancorp |
20,388 | 1,007,575 | ||||||
|
Park National Corp. |
7,635 | 1,023,548 | ||||||
|
People’s United Financial Inc. |
201,782 | 4,253,565 | ||||||
|
Pinnacle Financial Partners Inc. |
34,208 | 3,457,745 | ||||||
|
Popular Inc. |
24,248 | 2,227,179 | ||||||
|
Premier Financial Corp. |
29,445 | 903,078 | ||||||
|
Prosperity Bancshares Inc. |
13,788 | 1,026,654 | ||||||
|
QCR Holdings Inc. |
16,050 | 896,553 | ||||||
|
Sandy Spring Bancorp. Inc. |
38,280 | 1,802,605 | ||||||
|
Seacoast Banking Corp. of Florida |
26,299 | 963,858 | ||||||
|
ServisFirst Bancshares Inc. |
20,802 | 1,817,679 | ||||||
|
Silvergate Capital Corp., Class A(a)(b) |
9,484 | 1,214,711 | ||||||
|
South State Corp. |
22,521 | 2,026,890 | ||||||
|
Southside Bancshares Inc. |
16,956 | 706,896 | ||||||
|
Synovus Financial Corp. |
91,182 | 4,800,732 | ||||||
|
Texas Capital Bancshares Inc.(a)(b) |
13,108 | 872,993 | ||||||
|
TriState Capital Holdings Inc.(a) |
24,014 | 797,265 | ||||||
|
Triumph Bancorp. Inc.(a) |
8,187 | 821,320 | ||||||
|
Trustmark Corp. |
23,223 | 731,292 | ||||||
|
Umpqua Holdings Corp. |
125,047 | 2,669,753 | ||||||
|
United Community Banks Inc./GA |
29,831 | 1,153,266 | ||||||
|
Valley National Bancorp |
229,276 | 3,202,986 | ||||||
|
Western Alliance Bancorp |
40,165 | 3,765,067 | ||||||
|
Wintrust Financial Corp. |
29,083 | 2,889,687 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
25 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Banks (continued) |
||||||||
|
Zions Bancorp. NA |
62,094 | $ | 4,401,844 | |||||
|
|
|
|||||||
| 125,427,992 | ||||||||
| Beverages — 0.1% | ||||||||
|
Celsius Holdings Inc.(a) |
12,926 | 825,842 | ||||||
|
MGP Ingredients Inc. |
10,087 | 803,026 | ||||||
|
|
|
|||||||
| 1,628,868 | ||||||||
| Biotechnology — 4.3% | ||||||||
|
ACADIA Pharmaceuticals Inc.(a) |
44,083 | 1,120,149 | ||||||
|
Agios Pharmaceuticals Inc.(a)(b) |
25,283 | 787,060 | ||||||
|
Alder Biopharmaceuticals Inc.(b)(c) |
3,497 | 3,077 | ||||||
|
Alector Inc.(a) |
46,063 | 729,638 | ||||||
|
Alkermes PLC(a) |
60,852 | 1,512,781 | ||||||
|
Allogene Therapeutics Inc.(a) |
77,040 | 704,916 | ||||||
|
AnaptysBio Inc.(a) |
25,390 | 776,172 | ||||||
|
Anavex Life Sciences Corp.(a) |
61,671 | 675,914 | ||||||
|
Apellis Pharmaceuticals Inc.(a)(b) |
24,212 | 1,029,736 | ||||||
|
Arena Pharmaceuticals Inc.(a) |
26,090 | 2,477,767 | ||||||
|
Arrowhead Pharmaceuticals Inc.(a) |
36,261 | 1,595,484 | ||||||
|
Atara Biotherapeutics Inc.(a) |
56,003 | 719,639 | ||||||
|
Aurinia Pharmaceuticals Inc.(a) |
40,664 | 500,167 | ||||||
|
Avid Bioservices Inc.(a) |
36,517 | 747,868 | ||||||
|
Beam Therapeutics Inc.(a) |
13,253 | 1,038,373 | ||||||
|
BioCryst Pharmaceuticals Inc.(a) |
65,214 | 1,083,205 | ||||||
|
Biohaven Pharmaceutical Holding Co. Ltd.(a) |
16,824 | 1,997,177 | ||||||
|
Bluebird Bio Inc.(a)(b) |
120,570 | 728,243 | ||||||
|
Blueprint Medicines Corp.(a) |
10,489 | 635,109 | ||||||
|
Bridgebio Pharma Inc.(a) |
89,090 | 694,902 | ||||||
|
Caribou Biosciences Inc.(a) |
68,243 | 681,065 | ||||||
|
Cerevel Therapeutics Holdings Inc.(a) |
26,401 | 698,835 | ||||||
|
ChemoCentryx Inc.(a) |
24,659 | 748,154 | ||||||
|
Chimerix Inc.(a) |
134,045 | 756,014 | ||||||
|
CRISPR Therapeutics AG(a)(b) |
19,524 | 1,198,188 | ||||||
|
Cytokinetics Inc.(a) |
24,910 | 879,821 | ||||||
|
Denali Therapeutics Inc.(a) |
31,062 | 1,011,379 | ||||||
|
Dynavax Technologies Corp.(a) |
59,581 | 730,463 | ||||||
|
Editas Medicine Inc.(a) |
46,945 | 803,698 | ||||||
|
Emergent BioSolutions Inc.(a) |
17,803 | 736,688 | ||||||
|
Exelixis Inc.(a) |
61,963 | 1,272,100 | ||||||
|
Fate Therapeutics Inc.(a) |
25,244 | 872,180 | ||||||
|
Global Blood Therapeutics Inc.(a) |
22,718 | 686,084 | ||||||
|
Halozyme Therapeutics Inc.(a)(b) |
38,133 | 1,352,578 | ||||||
|
Homology Medicines Inc.(a) |
192,836 | 672,998 | ||||||
|
Humacyte Inc.(a) |
130,680 | 788,000 | ||||||
|
Immunovant Inc.(a) |
139,109 | 776,228 | ||||||
|
Inovio Pharmaceuticals Inc.(a)(b) |
228,185 | 739,319 | ||||||
|
Insmed Inc.(a) |
36,181 | 864,726 | ||||||
|
Intellia Therapeutics Inc.(a) |
23,683 | 2,341,065 | ||||||
|
Ionis Pharmaceuticals Inc.(a) |
37,794 | 1,261,564 | ||||||
|
Iovance Biotherapeutics Inc.(a) |
44,724 | 700,825 | ||||||
|
Karuna Therapeutics Inc.(a) |
6,889 | 723,345 | ||||||
|
Krystal Biotech Inc.(a) |
12,448 | 791,070 | ||||||
|
Kura Oncology Inc.(a) |
55,761 | 884,927 | ||||||
|
Kymera Therapeutics Inc.(a)(b) |
18,770 | 746,295 | ||||||
|
Ligand Pharmaceuticals Inc.(a) |
6,516 | 659,550 | ||||||
|
Merus NV(a)(b) |
28,200 | 792,138 | ||||||
|
Mirati Therapeutics Inc.(a) |
13,558 | 1,197,036 | ||||||
|
Myriad Genetics Inc.(a) |
29,105 | 709,580 | ||||||
|
Natera Inc.(a) |
22,516 | 1,480,427 | ||||||
|
OPKO Health Inc.(a) |
236,535 | 740,355 | ||||||
| Security | Shares | Value | ||||||
|
Biotechnology (continued) |
||||||||
|
Prothena Corp. PLC(a) |
20,893 | $ | 722,898 | |||||
|
Rocket Pharmaceuticals Inc.(a) |
38,589 | 687,270 | ||||||
|
Sarepta Therapeutics Inc.(a) |
27,463 | 2,103,940 | ||||||
|
SpringWorks Therapeutics Inc.(a) |
13,307 | 753,043 | ||||||
|
Sutro Biopharma Inc.(a) |
86,736 | 773,685 | ||||||
|
Taysha Gene Therapies Inc.(a) |
102,890 | 655,409 | ||||||
|
TG Therapeutics Inc.(a) |
69,543 | 686,389 | ||||||
|
Twist Bioscience Corp.(a) |
13,252 | 741,317 | ||||||
|
Ultragenyx Pharmaceutical Inc.(a) |
28,154 | 1,895,327 | ||||||
|
uniQure NV(a) |
45,643 | 775,475 | ||||||
|
United Therapeutics Corp.(a) |
12,713 | 2,112,901 | ||||||
|
Veracyte Inc.(a) |
26,213 | 728,721 | ||||||
|
Vericel Corp.(a) |
21,058 | 867,800 | ||||||
|
Vir Biotechnology Inc.(a) |
29,411 | 740,863 | ||||||
|
Xencor Inc.(a) |
24,439 | 765,185 | ||||||
|
Xenon Pharmaceuticals Inc.(a) |
26,620 | 843,854 | ||||||
|
Zymeworks Inc.(a) |
106,139 | 768,446 | ||||||
|
|
|
|||||||
| 65,476,595 | ||||||||
| Building Products — 1.7% | ||||||||
|
AAON Inc. |
25,483 | 1,492,285 | ||||||
|
Advanced Drainage Systems Inc. |
24,710 | 2,884,151 | ||||||
|
Armstrong World Industries Inc. |
21,002 | 1,856,577 | ||||||
|
AZEK Co. Inc. (The)(a) |
34,016 | 1,003,132 | ||||||
|
Builders FirstSource Inc.(a) |
70,300 | 5,231,726 | ||||||
|
Carlisle Companies Inc. |
18,547 | 4,403,058 | ||||||
|
Cornerstone Building Brands Inc.(a) |
34,713 | 766,463 | ||||||
|
JELD-WEN Holding Inc.(a) |
33,141 | 764,894 | ||||||
|
Masonite International Corp.(a) |
8,174 | 771,053 | ||||||
|
Resideo Technologies Inc.(a) |
53,496 | 1,376,987 | ||||||
|
Trex Co. Inc.(a) |
41,651 | 3,825,228 | ||||||
|
Zurn Water Solutions Corp. |
46,991 | 1,528,147 | ||||||
|
|
|
|||||||
| 25,903,701 | ||||||||
| Capital Markets — 2.1% | ||||||||
|
Affiliated Managers Group Inc. |
20,119 | 2,783,665 | ||||||
|
Ares Management Corp., Class A |
33,163 | 2,689,188 | ||||||
|
Artisan Partners Asset Management Inc., Class A |
28,417 | 1,082,972 | ||||||
|
Cohen & Steers Inc. |
11,848 | 962,768 | ||||||
|
Cowen Inc., Class A |
25,306 | 750,323 | ||||||
|
Diamond Hill Investment Group Inc. |
4,543 | 880,797 | ||||||
|
Donnelley Financial Solutions Inc.(a) |
24,345 | 781,475 | ||||||
|
Evercore Inc., Class A |
8,066 | 1,024,463 | ||||||
|
Focus Financial Partners Inc., Class A(a) |
15,106 | 755,904 | ||||||
|
Houlihan Lokey Inc. |
6,947 | 714,568 | ||||||
|
Interactive Brokers Group Inc., Class A |
23,171 | 1,533,457 | ||||||
|
Janus Henderson Group PLC |
123,545 | 4,147,406 | ||||||
|
Jefferies Financial Group Inc. |
49,060 | 1,743,592 | ||||||
|
LPL Financial Holdings Inc. |
33,447 | 6,052,235 | ||||||
|
Morningstar Inc. |
9,752 | 2,736,899 | ||||||
|
Open Lending Corp., Class A(a) |
42,470 | 884,650 | ||||||
|
StoneX Group Inc.(a) |
10,544 | 795,545 | ||||||
|
Victory Capital Holdings Inc., Class A |
24,454 | 811,139 | ||||||
|
Virtu Financial Inc., Class A |
21,967 | 770,602 | ||||||
|
Virtus Investment Partners Inc. |
3,562 | 857,088 | ||||||
|
|
|
|||||||
| 32,758,736 | ||||||||
| Chemicals — 1.9% | ||||||||
|
AdvanSix Inc. |
19,278 | 772,277 | ||||||
|
Avient Corp. |
29,729 | 1,557,502 | ||||||
|
Axalta Coating Systems Ltd.(a)(b) |
152,378 | 4,120,301 | ||||||
|
Balchem Corp. |
13,467 | 1,863,025 | ||||||
| 26 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Chemicals (continued) |
||||||||
|
Chemours Co. (The) |
55,933 | $ | 1,543,751 | |||||
|
Hawkins Inc. |
18,329 | 829,571 | ||||||
|
HB Fuller Co. |
17,145 | 1,172,204 | ||||||
|
Ingevity Corp.(a) |
13,123 | 895,382 | ||||||
|
Innospec Inc. |
23,328 | 2,227,824 | ||||||
|
Koppers Holdings Inc.(a) |
27,475 | 786,609 | ||||||
|
Livent Corp.(a)(b) |
54,490 | 1,283,240 | ||||||
|
Minerals Technologies Inc. |
27,554 | 1,928,504 | ||||||
|
Orion Engineered Carbons SA |
82,704 | 1,285,220 | ||||||
|
Scotts Miracle-Gro Co. (The) |
10,339 | 1,448,080 | ||||||
|
Sensient Technologies Corp. |
13,847 | 1,137,254 | ||||||
|
Stepan Co. |
14,800 | 1,533,576 | ||||||
|
Trinseo PLC |
28,084 | 1,459,245 | ||||||
|
Tronox Holdings PLC, Class A |
46,654 | 947,076 | ||||||
|
Valvoline Inc. |
74,869 | 2,420,515 | ||||||
|
|
|
|||||||
| 29,211,156 | ||||||||
| Commercial Services & Supplies — 1.3% | ||||||||
|
ABM Industries Inc. |
39,508 | 1,771,144 | ||||||
|
ACCO Brands Corp. |
97,605 | 839,403 | ||||||
|
ADT Inc. |
98,520 | 720,181 | ||||||
|
Clean Harbors Inc.(a) |
10,393 | 991,804 | ||||||
|
Deluxe Corp. |
23,762 | 739,236 | ||||||
|
Healthcare Services Group Inc. |
47,349 | 749,061 | ||||||
|
IAA Inc.(a) |
70,864 | 2,603,543 | ||||||
|
KAR Auction Services Inc.(a) |
81,951 | 1,512,815 | ||||||
|
Matthews International Corp., Class A |
48,805 | 1,619,350 | ||||||
|
MillerKnoll Inc. |
44,952 | 1,747,734 | ||||||
|
Montrose Environmental Group Inc.(a) |
16,555 | 730,241 | ||||||
|
MSA Safety Inc. |
15,420 | 2,144,922 | ||||||
|
Pitney Bowes Inc. |
26,949 | 134,206 | ||||||
|
Steelcase Inc., Class A |
69,636 | 847,470 | ||||||
|
Tetra Tech Inc. |
16,796 | 2,666,701 | ||||||
|
|
|
|||||||
| 19,817,811 | ||||||||
| Communications Equipment — 0.9% | ||||||||
|
ADTRAN Inc. |
37,110 | 764,095 | ||||||
|
Calix Inc.(a) |
17,281 | 939,050 | ||||||
|
Ciena Corp.(a) |
50,808 | 3,476,283 | ||||||
|
CommScope Holding Co. Inc.(a) |
110,587 | 1,055,000 | ||||||
|
Harmonic Inc.(a) |
88,507 | 824,000 | ||||||
|
Infinera Corp.(a) |
95,586 | 882,259 | ||||||
|
Lumentum Holdings Inc.(a) |
24,189 | 2,391,324 | ||||||
|
Plantronics Inc.(a) |
26,445 | 744,956 | ||||||
|
Ribbon Communications Inc.(a) |
173,490 | 527,410 | ||||||
|
Viasat Inc.(a) |
17,241 | 786,879 | ||||||
|
Viavi Solutions Inc.(a) |
53,398 | 875,727 | ||||||
|
|
|
|||||||
| 13,266,983 | ||||||||
| Construction & Engineering — 2.4% | ||||||||
|
AECOM |
55,186 | 4,009,815 | ||||||
|
API Group Corp.(a) |
52,267 | 1,127,399 | ||||||
|
Arcosa Inc. |
18,805 | 990,459 | ||||||
|
Comfort Systems USA Inc. |
25,525 | 2,194,640 | ||||||
|
Dycom Industries Inc.(a) |
8,603 | 748,977 | ||||||
|
EMCOR Group Inc. |
32,929 | 3,804,617 | ||||||
|
Fluor Corp.(a) |
36,087 | 781,644 | ||||||
|
Granite Construction Inc. |
24,621 | 745,278 | ||||||
|
Great Lakes Dredge & Dock Corp.(a) |
69,126 | 975,368 | ||||||
|
IES Holdings Inc.(a) |
17,554 | 737,970 | ||||||
|
MasTec Inc.(a) |
19,499 | 1,535,741 | ||||||
|
MDU Resources Group Inc. |
175,072 | 4,686,678 | ||||||
| Security | Shares | Value | ||||||
|
Construction & Engineering (continued) |
||||||||
|
MYR Group Inc.(a) |
20,831 | $ | 1,869,582 | |||||
|
Primoris Services Corp. |
36,773 | 969,704 | ||||||
|
Quanta Services Inc. |
61,446 | 6,693,927 | ||||||
|
Sterling Construction Co. Inc.(a) |
24,953 | 736,862 | ||||||
|
Valmont Industries Inc. |
7,863 | 1,701,946 | ||||||
|
WillScot Mobile Mini Holdings Corp.(a) |
70,265 | 2,496,516 | ||||||
|
|
|
|||||||
| 36,807,123 | ||||||||
| Construction Materials — 0.1% | ||||||||
|
Summit Materials Inc., Class A(a) |
67,711 | 2,113,937 | ||||||
|
|
|
|||||||
| Consumer Finance — 0.7% | ||||||||
|
Credit Acceptance Corp.(a) |
1,538 | 846,085 | ||||||
|
Encore Capital Group Inc.(a) |
12,427 | 820,058 | ||||||
|
Green Dot Corp., Class A(a) |
13,074 | 374,570 | ||||||
|
LendingClub Corp.(a) |
41,495 | 770,977 | ||||||
|
OneMain Holdings Inc. |
19,731 | 1,005,886 | ||||||
|
Oportun Financial Corp.(a) |
44,548 | 727,914 | ||||||
|
PRA Group Inc.(a) |
32,730 | 1,460,740 | ||||||
|
PROG Holdings Inc.(a) |
26,964 | 826,177 | ||||||
|
SLM Corp. |
164,999 | 3,250,480 | ||||||
|
|
|
|||||||
| 10,082,887 | ||||||||
| Containers & Packaging — 0.9% | ||||||||
|
AptarGroup Inc. |
32,195 | 3,923,927 | ||||||
|
Berry Global Group Inc.(a) |
32,463 | 1,968,881 | ||||||
|
Graphic Packaging Holding Co. |
162,496 | 3,344,168 | ||||||
|
Greif Inc., Class A, NVS |
16,211 | 931,970 | ||||||
|
Myers Industries Inc. |
47,584 | 790,846 | ||||||
|
Ranpak Holdings Corp.(a)(b) |
28,829 | 697,662 | ||||||
|
Sonoco Products Co. |
25,559 | 1,500,824 | ||||||
|
|
|
|||||||
| 13,158,278 | ||||||||
| Diversified Consumer Services — 1.5% | ||||||||
|
2U Inc.(a) |
76,072 | 798,756 | ||||||
|
American Public Education Inc.(a) |
43,794 | 874,128 | ||||||
|
Beachbody Co. Inc. (The)(a) |
316,363 | 632,726 | ||||||
|
Bright Horizons Family Solutions Inc.(a) |
27,017 | 3,529,501 | ||||||
|
Carriage Services Inc. |
15,598 | 767,578 | ||||||
|
Chegg Inc.(a)(b) |
39,750 | 1,242,982 | ||||||
|
Coursera Inc.(a) |
36,593 | 743,936 | ||||||
|
European Wax Center Inc., Class A(a) |
29,589 | 735,878 | ||||||
|
frontdoor Inc.(a) |
22,751 | 683,668 | ||||||
|
Graham Holdings Co., Class B |
1,744 | 1,048,371 | ||||||
|
Grand Canyon Education Inc.(a) |
13,960 | 1,212,147 | ||||||
|
H&R Block Inc. |
68,572 | 1,701,271 | ||||||
|
Houghton Mifflin Harcourt Co.(a) |
48,923 | 1,024,937 | ||||||
|
Rover Group Inc.(a) |
146,548 | 836,789 | ||||||
|
Service Corp. International |
55,365 | 3,368,960 | ||||||
|
Terminix Global Holdings Inc.(a) |
71,744 | 3,053,425 | ||||||
|
WW International Inc.(a)(b) |
70,760 | 721,044 | ||||||
|
|
|
|||||||
| 22,976,097 | ||||||||
|
Diversified Financial Services — 0.2% |
||||||||
|
Voya Financial Inc. |
54,650 | 3,680,678 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 0.5% | ||||||||
|
Bandwidth Inc., Class A(a) |
16,157 | 493,596 | ||||||
|
Cogent Communications Holdings Inc. |
23,392 | 1,483,053 | ||||||
|
Frontier Communications Parent Inc.(a)(b) |
53,221 | 1,466,239 | ||||||
|
Iridium Communications Inc.(a) |
51,105 | 2,023,247 | ||||||
|
Liberty Latin America Ltd., Class C, NVS(a) |
68,058 | 686,705 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
27 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Diversified Telecommunication Services (continued) |
| |||||||
|
Radius Global Infrastructure Inc., Class A(a) |
60,292 | $ | 775,355 | |||||
|
|
|
|||||||
| 6,928,195 | ||||||||
| Electric Utilities — 0.2% | ||||||||
|
Hawaiian Electric Industries Inc. |
63,217 | 2,590,633 | ||||||
|
|
|
|||||||
| Electrical Equipment — 1.2% | ||||||||
|
Acuity Brands Inc.(b) |
16,242 | 2,962,054 | ||||||
|
Atkore Inc.(a) |
16,244 | 1,652,177 | ||||||
|
Blink Charging Co.(a)(b) |
30,776 | 756,474 | ||||||
|
Bloom Energy Corp., Class A(a) |
49,027 | 1,088,399 | ||||||
|
ChargePoint Holdings Inc.(a) |
55,475 | 805,497 | ||||||
|
FREYR Battery SA(a) |
78,518 | 747,491 | ||||||
|
FuelCell Energy Inc.(a) |
141,756 | 850,536 | ||||||
|
Hubbell Inc. |
19,412 | 3,460,189 | ||||||
|
Regal Rexnord Corp. |
24,479 | 3,925,208 | ||||||
|
Shoals Technologies Group Inc., Class A(a) |
54,603 | 863,273 | ||||||
|
Vertiv Holdings Co. |
93,888 | 1,222,422 | ||||||
|
|
|
|||||||
| 18,333,720 | ||||||||
| Electronic Equipment, Instruments & Components — 3.2% | ||||||||
|
Advanced Energy Industries Inc. |
9,612 | 825,190 | ||||||
|
Avnet Inc. |
56,426 | 2,373,842 | ||||||
|
Badger Meter Inc. |
38,128 | 3,790,304 | ||||||
|
Belden Inc. |
13,800 | 777,630 | ||||||
|
Benchmark Electronics Inc. |
34,922 | 912,861 | ||||||
|
Coherent Inc.(a) |
10,454 | 2,763,201 | ||||||
|
CTS Corp. |
24,567 | 932,072 | ||||||
|
ePlus Inc.(a) |
32,524 | 1,525,376 | ||||||
|
Fabrinet(a) |
7,530 | 753,979 | ||||||
|
Flex Ltd.(a) |
220,431 | 3,634,907 | ||||||
|
II-VI Inc.(a)(b) |
25,522 | 1,772,758 | ||||||
|
Insight Enterprises Inc.(a) |
18,910 | 1,966,640 | ||||||
|
Itron Inc.(a) |
30,679 | 1,462,468 | ||||||
|
Jabil Inc. |
32,785 | 1,895,301 | ||||||
|
Kimball Electronics Inc.(a) |
44,177 | 761,611 | ||||||
|
Knowles Corp.(a) |
49,703 | 1,082,531 | ||||||
|
Littelfuse Inc. |
7,031 | 1,815,475 | ||||||
|
Methode Electronics Inc. |
47,887 | 2,185,563 | ||||||
|
National Instruments Corp. |
87,143 | 3,498,791 | ||||||
|
Novanta Inc.(a) |
17,175 | 2,346,620 | ||||||
|
OSI Systems Inc.(a)(b) |
36,507 | 2,945,020 | ||||||
|
PAR Technology Corp.(a) |
17,672 | 741,164 | ||||||
|
Plexus Corp.(a) |
21,856 | 1,780,608 | ||||||
|
Rogers Corp.(a) |
9,478 | 2,587,494 | ||||||
|
TD SYNNEX Corp. |
11,082 | 1,128,480 | ||||||
|
Vishay Precision Group Inc.(a) |
24,722 | 776,518 | ||||||
|
Vontier Corp. |
64,485 | 1,566,986 | ||||||
|
|
|
|||||||
| 48,603,390 | ||||||||
| Energy Equipment & Services — 1.0% | ||||||||
|
Archrock Inc. |
110,845 | 925,556 | ||||||
|
Cactus Inc., Class A |
28,940 | 1,466,100 | ||||||
|
ChampionX Corp.(a) |
83,121 | 1,779,621 | ||||||
|
Core Laboratories NV |
36,075 | 994,227 | ||||||
|
DMC Global Inc.(a) |
20,562 | 604,523 | ||||||
|
Dril-Quip Inc.(a) |
32,445 | 935,714 | ||||||
|
NOV Inc. |
168,533 | 2,890,341 | ||||||
|
Oceaneering International Inc.(a) |
63,961 | 936,389 | ||||||
|
Patterson-UTI Energy Inc. |
55,104 | 795,151 | ||||||
|
TechnipFMC PLC(a) |
306,896 | 2,102,237 | ||||||
|
Transocean Ltd.(a) |
209,891 | 743,014 | ||||||
| Security | Shares | Value | ||||||
|
Energy Equipment & Services (continued) |
| |||||||
|
Weatherford International PLC(a) |
32,409 | $ | 920,415 | |||||
|
|
|
|||||||
| 15,093,288 | ||||||||
| Entertainment — 0.4% | ||||||||
|
Cinemark Holdings Inc.(a) |
44,683 | 783,740 | ||||||
|
IMAX Corp.(a) |
42,318 | 875,136 | ||||||
|
Lions Gate Entertainment Corp., Class A(a)(b) |
68,405 | 1,050,701 | ||||||
|
World Wrestling Entertainment Inc., Class A |
18,542 | 1,098,799 | ||||||
|
Zynga Inc., Class A(a) |
298,909 | 2,714,094 | ||||||
|
|
|
|||||||
| 6,522,470 | ||||||||
| Equity Real Estate Investment Trusts (REITs) — 7.6% | ||||||||
|
Acadia Realty Trust |
42,712 | 915,745 | ||||||
|
Agree Realty Corp. |
12,005 | 770,121 | ||||||
|
Alexander & Baldwin Inc. |
72,644 | 1,629,405 | ||||||
|
American Assets Trust Inc. |
23,461 | 857,734 | ||||||
|
American Campus Communities Inc. |
73,848 | 3,973,761 | ||||||
|
American Homes 4 Rent, Class A |
71,490 | 2,717,335 | ||||||
|
Americold Realty Trust |
66,455 | 1,775,678 | ||||||
|
Apartment Income REIT Corp. |
52,843 | 2,727,227 | ||||||
|
Apple Hospitality REIT Inc. |
42,189 | 746,323 | ||||||
|
Brandywine Realty Trust |
111,151 | 1,481,643 | ||||||
|
Brixmor Property Group Inc. |
148,023 | 3,718,338 | ||||||
|
City Office REIT Inc. |
43,048 | 741,287 | ||||||
|
Corporate Office Properties Trust |
122,196 | 3,202,757 | ||||||
|
Cousins Properties Inc. |
55,431 | 2,141,300 | ||||||
|
CubeSmart |
69,217 | 3,336,952 | ||||||
|
CyrusOne Inc. |
52,636 | 4,755,663 | ||||||
|
DiamondRock Hospitality Co.(a) |
99,950 | 954,523 | ||||||
|
DigitalBridge Group Inc.(a) |
184,766 | 1,339,553 | ||||||
|
Douglas Emmett Inc. |
107,953 | 3,422,110 | ||||||
|
Easterly Government Properties Inc. |
52,393 | 1,090,822 | ||||||
|
Empire State Realty Trust Inc., Class A |
130,316 | 1,232,789 | ||||||
|
EPR Properties |
17,990 | 895,902 | ||||||
|
Essential Properties Realty Trust Inc. |
43,130 | 1,090,326 | ||||||
|
Federal Realty Investment Trust |
36,088 | 4,243,227 | ||||||
|
First Industrial Realty Trust Inc. |
17,918 | 1,031,718 | ||||||
|
Four Corners Property Trust Inc. |
30,350 | 800,633 | ||||||
|
Gaming and Leisure Properties Inc. |
55,277 | 2,510,129 | ||||||
|
Healthcare Realty Trust Inc. |
41,688 | 1,087,223 | ||||||
|
Healthcare Trust of America Inc., Class A |
44,205 | 1,299,185 | ||||||
|
Highwoods Properties Inc. |
30,535 | 1,331,326 | ||||||
|
Hudson Pacific Properties Inc. |
87,408 | 2,307,571 | ||||||
|
Independence Realty Trust Inc. |
43,327 | 1,094,873 | ||||||
|
Innovative Industrial Properties Inc. |
4,278 | 806,232 | ||||||
|
iStar Inc. |
63,190 | 1,587,333 | ||||||
|
JBG SMITH Properties |
96,445 | 2,573,153 | ||||||
|
Kilroy Realty Corp. |
57,252 | 4,100,388 | ||||||
|
Kite Realty Group Trust |
70,818 | 1,553,039 | ||||||
|
Lamar Advertising Co., Class A |
15,054 | 1,641,789 | ||||||
|
Life Storage Inc. |
27,438 | 3,473,376 | ||||||
|
LXP Industrial Trust |
79,788 | 1,233,522 | ||||||
|
Macerich Co. (The) |
84,190 | 1,288,107 | ||||||
|
National Retail Properties Inc. |
49,052 | 2,090,106 | ||||||
|
National Storage Affiliates Trust |
14,090 | 821,024 | ||||||
|
Omega Healthcare Investors Inc. |
45,185 | 1,272,861 | ||||||
|
Outfront Media Inc. |
69,837 | 1,864,648 | ||||||
|
Paramount Group Inc. |
82,975 | 928,490 | ||||||
|
Park Hotels & Resorts Inc.(a) |
85,285 | 1,606,769 | ||||||
|
Pebblebrook Hotel Trust(b) |
31,708 | 713,747 | ||||||
|
Physicians Realty Trust |
148,406 | 2,413,082 | ||||||
| 28 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Equity Real Estate Investment Trusts (REITs) (continued) |
| |||||||
|
Piedmont Office Realty Trust Inc., Class A |
105,004 | $ | 1,789,268 | |||||
|
PotlatchDeltic Corp. |
33,461 | 1,837,009 | ||||||
|
Rayonier Inc. |
33,559 | 1,332,292 | ||||||
|
Rexford Industrial Realty Inc. |
47,895 | 3,358,876 | ||||||
|
Ryman Hospitality Properties Inc.(a) |
18,199 | 1,603,514 | ||||||
|
Sabra Health Care REIT Inc. |
87,926 | 1,180,846 | ||||||
|
SITE Centers Corp. |
66,371 | 1,032,069 | ||||||
|
SL Green Realty Corp. |
27,226 | 2,165,012 | ||||||
|
Spirit Realty Capital Inc. |
19,452 | 901,989 | ||||||
|
STAG Industrial Inc. |
33,781 | 1,316,108 | ||||||
|
STORE Capital Corp. |
84,912 | 2,608,497 | ||||||
|
Sunstone Hotel Investors Inc.(a) |
68,675 | 726,582 | ||||||
|
Tanger Factory Outlet Centers Inc. |
45,512 | 759,140 | ||||||
|
Uniti Group Inc. |
188,011 | 2,438,503 | ||||||
|
Washington REIT |
73,742 | 1,722,613 | ||||||
|
Xenia Hotels & Resorts Inc.(a) |
60,581 | 1,123,172 | ||||||
|
|
|
|||||||
| 117,086,335 | ||||||||
| Food & Staples Retailing — 1.0% | ||||||||
|
Andersons Inc. (The) |
19,952 | 909,811 | ||||||
|
BJ’s Wholesale Club Holdings Inc.(a)(b) |
45,861 | 2,883,281 | ||||||
|
Casey’s General Stores Inc. |
12,089 | 2,273,699 | ||||||
|
Chefs’ Warehouse Inc. (The)(a) |
24,641 | 809,457 | ||||||
|
Grocery Outlet Holding Corp.(a) |
29,134 | 810,217 | ||||||
|
PriceSmart Inc. |
17,414 | 1,266,346 | ||||||
|
Sprouts Farmers Market Inc.(a) |
100,557 | 2,863,863 | ||||||
|
U.S. Foods Holding Corp.(a) |
76,217 | 2,979,323 | ||||||
|
United Natural Foods Inc.(a) |
25,391 | 1,021,480 | ||||||
|
|
|
|||||||
| 15,817,477 | ||||||||
| Food Products — 1.7% | ||||||||
|
B&G Foods Inc. |
25,330 | 749,768 | ||||||
|
Beyond Meat Inc.(a)(b) |
17,335 | 810,931 | ||||||
|
Darling Ingredients Inc.(a) |
60,249 | 4,366,848 | ||||||
|
Flowers Foods Inc. |
100,441 | 2,753,088 | ||||||
|
Fresh Del Monte Produce Inc. |
28,181 | 729,324 | ||||||
|
Freshpet Inc.(a)(b) |
20,775 | 1,978,403 | ||||||
|
Hain Celestial Group Inc. (The)(a) |
44,920 | 1,633,291 | ||||||
|
Ingredion Inc. |
58,313 | 5,174,696 | ||||||
|
Lamb Weston Holdings Inc. |
61,702 | 4,098,864 | ||||||
|
Post Holdings Inc.(a) |
15,255 | 1,603,911 | ||||||
|
Simply Good Foods Co. (The)(a) |
28,986 | 1,148,715 | ||||||
|
TreeHouse Foods Inc.(a) |
25,481 | 1,000,129 | ||||||
|
Vital Farms Inc.(a) |
50,738 | 723,016 | ||||||
|
|
|
|||||||
| 26,770,984 | ||||||||
| Gas Utilities — 1.2% | ||||||||
|
Chesapeake Utilities Corp. |
5,003 | 665,149 | ||||||
|
National Fuel Gas Co. |
33,637 | 2,093,567 | ||||||
|
New Jersey Resources Corp. |
69,838 | 3,046,334 | ||||||
|
Northwest Natural Holding Co. |
37,915 | 1,971,959 | ||||||
|
ONE Gas Inc. |
46,857 | 3,893,348 | ||||||
|
South Jersey Industries Inc. |
83,131 | 2,820,635 | ||||||
|
Southwest Gas Holdings Inc. |
32,398 | 2,298,314 | ||||||
|
Spire Inc. |
27,584 | 1,851,162 | ||||||
|
|
|
|||||||
| 18,640,468 | ||||||||
| Health Care Equipment & Supplies — 2.8% | ||||||||
|
Alphatec Holdings Inc.(a) |
72,170 | 795,313 | ||||||
|
AtriCure Inc.(a) |
23,317 | 1,619,366 | ||||||
|
Cardiovascular Systems Inc.(a) |
42,254 | 889,869 | ||||||
|
Cerus Corp.(a) |
139,880 | 821,096 | ||||||
|
CONMED Corp. |
10,564 | 1,544,034 | ||||||
| Security | Shares | Value | ||||||
|
Health Care Equipment & Supplies (continued) |
||||||||
|
CryoPort Inc.(a) |
21,045 | $ | 722,475 | |||||
|
Envista Holdings Corp.(a) |
47,780 | 2,293,440 | ||||||
|
Establishment Labs Holdings Inc.(a)(b) |
14,017 | 847,047 | ||||||
|
Glaukos Corp.(a) |
17,181 | 950,281 | ||||||
|
Globus Medical Inc., Class A(a) |
18,638 | 1,310,624 | ||||||
|
Haemonetics Corp.(a) |
21,209 | 1,223,971 | ||||||
|
Heska Corp.(a) |
5,937 | 843,054 | ||||||
|
Inari Medical Inc.(a) |
11,811 | 1,039,132 | ||||||
|
Inogen Inc.(a) |
25,010 | 872,599 | ||||||
|
Integer Holdings Corp.(a) |
9,310 | 780,830 | ||||||
|
Integra LifeSciences Holdings Corp.(a) |
13,660 | 916,039 | ||||||
|
Intersect ENT Inc.(a) |
29,103 | 791,602 | ||||||
|
iRhythm Technologies Inc.(a) |
10,115 | 1,307,566 | ||||||
|
LivaNova PLC(a) |
13,100 | 1,032,542 | ||||||
|
Merit Medical Systems Inc.(a) |
25,058 | 1,629,522 | ||||||
|
Natus Medical Inc.(a) |
41,783 | 1,162,403 | ||||||
|
Nevro Corp.(a) |
11,011 | 789,489 | ||||||
|
Orthofix Medical Inc.(a) |
45,611 | 1,549,862 | ||||||
|
Outset Medical Inc.(a) |
22,804 | 1,002,692 | ||||||
|
Penumbra Inc.(a) |
11,702 | 2,594,801 | ||||||
|
Pulmonx Corp.(a) |
27,864 | 731,709 | ||||||
|
Quidel Corp.(a) |
13,084 | 1,384,156 | ||||||
|
Shockwave Medical Inc.(a) |
13,585 | 2,407,669 | ||||||
|
SI-BONE Inc.(a) |
37,311 | 823,081 | ||||||
|
Silk Road Medical Inc.(a) |
23,268 | 863,941 | ||||||
|
STAAR Surgical Co.(a) |
14,788 | 1,172,984 | ||||||
|
Surmodics Inc.(a) |
18,459 | 828,440 | ||||||
|
Tactile Systems Technology Inc.(a) |
50,099 | 1,020,016 | ||||||
|
Tandem Diabetes Care Inc.(a) |
26,359 | 2,968,814 | ||||||
|
Vapotherm Inc.(a) |
52,796 | 801,971 | ||||||
|
Varex Imaging Corp.(a)(b) |
33,942 | 802,389 | ||||||
|
|
|
|||||||
| 43,134,819 | ||||||||
| Health Care Providers & Services — 3.1% | ||||||||
|
1Life Healthcare Inc.(a) |
69,389 | 750,095 | ||||||
|
Acadia Healthcare Co. Inc.(a) |
20,753 | 1,176,903 | ||||||
|
Accolade Inc.(a) |
36,915 | 663,732 | ||||||
|
AdaptHealth Corp.(a)(b) |
41,070 | 715,850 | ||||||
|
Addus HomeCare Corp.(a) |
14,131 | 1,201,700 | ||||||
|
Agiliti Inc.(a) |
39,915 | 718,869 | ||||||
|
Amedisys Inc.(a) |
13,442 | 2,153,946 | ||||||
|
AMN Healthcare Services Inc.(a) |
20,394 | 2,164,619 | ||||||
|
Apollo Medical Holdings Inc.(a) |
13,279 | 638,985 | ||||||
|
Brookdale Senior Living Inc.(a) |
118,605 | 816,002 | ||||||
|
Chemed Corp. |
3,980 | 1,903,594 | ||||||
|
CorVel Corp.(a) |
7,732 | 1,229,852 | ||||||
|
Covetrus Inc.(a) |
42,496 | 753,029 | ||||||
|
Cross Country Healthcare Inc.(a) |
37,544 | 838,358 | ||||||
|
Encompass Health Corp. |
45,071 | 2,975,587 | ||||||
|
Ensign Group Inc. (The) |
18,401 | 1,546,420 | ||||||
|
Fulgent Genetics Inc.(a) |
11,832 | 737,134 | ||||||
|
Guardant Health Inc.(a) |
21,933 | 1,453,500 | ||||||
|
Hanger Inc.(a) |
44,686 | 809,710 | ||||||
|
HealthEquity Inc.(a) |
15,783 | 847,705 | ||||||
|
Invitae Corp.(a) |
73,126 | 789,030 | ||||||
|
Joint Corp. (The)(a) |
13,998 | 573,918 | ||||||
|
LHC Group Inc.(a) |
14,944 | 2,034,924 | ||||||
|
MEDNAX Inc.(a) |
33,093 | 776,693 | ||||||
|
ModivCare Inc.(a) |
8,356 | 986,008 | ||||||
|
National Research Corp. |
27,570 | 1,096,735 | ||||||
|
Option Care Health Inc.(a) |
38,700 | 994,590 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
29 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Health Care Providers & Services (continued) |
||||||||
|
Owens & Minor Inc.(b) |
29,540 | $ | 1,304,191 | |||||
|
Patterson Companies Inc. |
43,040 | 1,286,896 | ||||||
|
PetIQ Inc.(a) |
41,421 | 821,793 | ||||||
|
Premier Inc., Class A |
52,069 | 1,871,360 | ||||||
|
Privia Health Group Inc.(a) |
33,149 | 853,255 | ||||||
|
Progyny Inc.(a) |
18,821 | 740,795 | ||||||
|
R1 RCM Inc.(a) |
71,971 | 1,956,891 | ||||||
|
RadNet Inc.(a) |
30,694 | 757,221 | ||||||
|
Select Medical Holdings Corp. |
34,496 | 798,582 | ||||||
|
Signify Health Inc., Class A(a) |
56,833 | 798,504 | ||||||
|
Surgery Partners Inc.(a) |
14,932 | 780,496 | ||||||
|
Tenet Healthcare Corp.(a) |
23,732 | 2,040,715 | ||||||
|
Tivity Health Inc.(a)(b) |
30,364 | 828,330 | ||||||
|
U.S. Physical Therapy Inc. |
7,825 | 719,665 | ||||||
|
|
|
|||||||
| 46,906,182 | ||||||||
| Health Care Technology — 0.4% | ||||||||
|
Allscripts Healthcare Solutions Inc.(a) |
41,404 | 805,722 | ||||||
|
Certara Inc.(a) |
30,112 | 763,038 | ||||||
|
Health Catalyst Inc.(a) |
27,006 | 732,403 | ||||||
|
Inspire Medical Systems Inc.(a) |
7,678 | 1,873,893 | ||||||
|
NextGen Healthcare Inc.(a) |
42,134 | 822,877 | ||||||
|
Omnicell Inc.(a) |
9,348 | 1,208,509 | ||||||
|
|
|
|||||||
| 6,206,442 | ||||||||
| Hotels, Restaurants & Leisure — 2.7% | ||||||||
|
Accel Entertainment Inc.(a) |
82,049 | 1,074,021 | ||||||
|
Boyd Gaming Corp.(a) |
18,366 | 1,302,884 | ||||||
|
Brinker International Inc.(a) |
18,101 | 770,017 | ||||||
|
Choice Hotels International Inc. |
5,749 | 829,868 | ||||||
|
Churchill Downs Inc. |
10,106 | 2,434,232 | ||||||
|
Dave & Buster’s Entertainment Inc.(a)(b) |
17,793 | 771,149 | ||||||
|
Everi Holdings Inc.(a)(b) |
49,325 | 1,154,205 | ||||||
|
Hilton Grand Vacations Inc.(a) |
61,768 | 3,203,288 | ||||||
|
Hyatt Hotels Corp., Class A(a) |
13,159 | 1,277,870 | ||||||
|
Jack in the Box Inc. |
8,490 | 732,432 | ||||||
|
Marriott Vacations Worldwide Corp. |
17,239 | 2,769,790 | ||||||
|
Norwegian Cruise Line Holdings Ltd.(a) |
118,446 | 2,308,513 | ||||||
|
Papa John’s International Inc. |
6,909 | 738,019 | ||||||
|
Penn National Gaming Inc.(a)(b) |
54,329 | 2,789,794 | ||||||
|
Planet Fitness Inc., Class A(a)(b) |
36,966 | 3,128,433 | ||||||
|
Red Rock Resorts Inc., Class A |
14,501 | 729,110 | ||||||
|
Scientific Games Corp./DE, Class A(a) |
26,784 | 1,685,249 | ||||||
|
SeaWorld Entertainment Inc.(a) |
23,548 | 1,633,996 | ||||||
|
Shake Shack Inc., Class A(a) |
11,732 | 876,615 | ||||||
|
Six Flags Entertainment Corp.(a) |
32,847 | 1,434,100 | ||||||
|
Texas Roadhouse Inc. |
8,397 | 796,959 | ||||||
|
Travel + Leisure Co. |
38,596 | 2,163,306 | ||||||
|
Wendy’s Co. (The) |
83,986 | 1,909,842 | ||||||
|
Wingstop Inc. |
10,550 | 1,533,443 | ||||||
|
Wyndham Hotels & Resorts Inc. |
41,126 | 3,553,698 | ||||||
|
|
|
|||||||
| 41,600,833 | ||||||||
| Household Durables — 1.5% | ||||||||
|
Cavco Industries Inc.(a) |
2,660 | 725,196 | ||||||
|
Century Communities Inc. |
15,456 | 984,856 | ||||||
|
Ethan Allen Interiors Inc. |
33,200 | 865,192 | ||||||
|
Green Brick Partners Inc.(a) |
34,166 | 792,310 | ||||||
|
Helen of Troy Ltd.(a) |
13,941 | 2,867,245 | ||||||
|
iRobot Corp.(a) |
13,625 | 846,930 | ||||||
|
KB Home |
35,241 | 1,360,655 | ||||||
|
Leggett & Platt Inc. |
48,524 | 1,799,270 | ||||||
| Security | Shares | Value | ||||||
|
Household Durables (continued) |
||||||||
|
LGI Homes Inc.(a) |
9,087 | $ | 1,146,143 | |||||
|
MDC Holdings Inc. |
17,232 | 764,067 | ||||||
|
Meritage Homes Corp.(a) |
14,684 | 1,447,549 | ||||||
|
Skyline Champion Corp.(a) |
14,470 | 972,963 | ||||||
|
Sonos Inc.(a)(b) |
39,891 | 1,092,614 | ||||||
|
Taylor Morrison Home Corp.(a) |
43,648 | 1,287,616 | ||||||
|
Tempur Sealy International Inc. |
50,156 | 1,655,650 | ||||||
|
Toll Brothers Inc. |
20,976 | 1,138,158 | ||||||
|
TopBuild Corp.(a) |
9,068 | 1,946,718 | ||||||
|
Tri Pointe Homes Inc.(a) |
43,293 | 968,464 | ||||||
|
|
|
|||||||
| 22,661,596 | ||||||||
| Household Products — 0.1% | ||||||||
|
Spectrum Brands Holdings Inc. |
12,539 | 1,163,368 | ||||||
|
|
|
|||||||
|
Independent Power and Renewable Electricity Producers — 0.5% |
| |||||||
|
Clearway Energy Inc., Class C |
69,681 | 2,327,346 | ||||||
|
NextEra Energy Partners LP |
41,530 | 3,239,755 | ||||||
|
Ormat Technologies Inc. |
19,566 | 1,396,034 | ||||||
|
Sunnova Energy International Inc.(a) |
51,889 | 1,045,563 | ||||||
|
|
|
|||||||
| 8,008,698 | ||||||||
| Insurance — 2.1% | ||||||||
|
American Equity Investment Life Holding Co. |
23,876 | 899,886 | ||||||
|
Argo Group International Holdings Ltd. |
20,548 | 866,509 | ||||||
|
Assured Guaranty Ltd. |
20,725 | 1,284,328 | ||||||
|
Axis Capital Holdings Ltd. |
20,595 | 1,124,899 | ||||||
|
Brighthouse Financial Inc.(a) |
15,846 | 828,112 | ||||||
|
CNO Financial Group Inc. |
48,596 | 1,174,565 | ||||||
|
First American Financial Corp. |
56,300 | 3,774,352 | ||||||
|
Genworth Financial Inc., Class A(a) |
107,185 | 435,171 | ||||||
|
Goosehead Insurance Inc., Class A |
8,274 | 719,673 | ||||||
|
Hanover Insurance Group Inc. (The) |
21,032 | 2,934,174 | ||||||
|
Horace Mann Educators Corp. |
18,447 | 767,211 | ||||||
|
Kemper Corp. |
19,228 | 1,027,544 | ||||||
|
Kinsale Capital Group Inc. |
4,396 | 922,105 | ||||||
|
Primerica Inc. |
17,562 | 2,281,128 | ||||||
|
ProAssurance Corp. |
24,358 | 587,028 | ||||||
|
Reinsurance Group of America Inc. |
26,018 | 2,884,356 | ||||||
|
RenaissanceRe Holdings Ltd. |
12,941 | 1,951,244 | ||||||
|
Ryan Specialty Group Holdings Inc., Class A(a) |
21,397 | 857,164 | ||||||
|
Selective Insurance Group Inc. |
33,390 | 2,777,714 | ||||||
|
State Auto Financial Corp. |
15,375 | 799,654 | ||||||
|
Stewart Information Services Corp. |
8,093 | 549,353 | ||||||
|
Trupanion Inc.(a) |
11,378 | 1,019,810 | ||||||
|
Unum Group |
64,616 | 1,804,079 | ||||||
|
|
|
|||||||
| 32,270,059 | ||||||||
| Interactive Media & Services — 0.2% | ||||||||
|
Cargurus Inc.(a) |
25,012 | 1,211,831 | ||||||
|
TripAdvisor Inc.(a) |
26,724 | 679,859 | ||||||
|
Vimeo Inc.(a) |
61,059 | 793,156 | ||||||
|
Yelp Inc.(a) |
21,740 | 736,769 | ||||||
|
|
|
|||||||
| 3,421,615 | ||||||||
| Internet & Direct Marketing Retail — 0.2% | ||||||||
|
Overstock.com Inc.(a)(b) |
17,201 | 978,737 | ||||||
|
RealReal Inc. (The)(a) |
85,273 | 759,782 | ||||||
|
Revolve Group Inc.(a) |
13,902 | 659,372 | ||||||
|
|
|
|||||||
| 2,397,891 | ||||||||
| IT Services — 1.6% | ||||||||
|
Alliance Data Systems Corp. |
16,916 | 1,140,984 | ||||||
|
BigCommerce Holdings Inc., Series 1(a)(b) |
27,140 | 702,926 | ||||||
| 30 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
IT Services (continued) |
||||||||
|
Brightcove Inc.(a) |
87,604 | $ | 655,278 | |||||
|
Concentrix Corp. |
15,155 | 3,029,333 | ||||||
|
CSG Systems International Inc. |
21,933 | 1,353,705 | ||||||
|
DigitalOcean Holdings Inc.(a) |
12,523 | 742,864 | ||||||
|
DXC Technology Co.(a) |
82,295 | 2,800,499 | ||||||
|
Euronet Worldwide Inc.(a) |
9,460 | 1,213,056 | ||||||
|
EVERTEC Inc. |
19,698 | 795,011 | ||||||
|
ExlService Holdings Inc.(a) |
13,881 | 1,676,686 | ||||||
|
Fastly Inc., Class A(a)(b) |
33,315 | 619,659 | ||||||
|
Kyndryl Holdings Inc.(a) |
49,425 | 783,880 | ||||||
|
LiveRamp Holdings Inc.(a) |
18,805 | 811,624 | ||||||
|
Maximus Inc. |
10,380 | 818,567 | ||||||
|
Perficient Inc.(a) |
10,772 | 1,097,667 | ||||||
|
Rackspace Technology Inc.(a)(b) |
61,779 | 687,600 | ||||||
|
Sabre Corp.(a) |
80,887 | 884,095 | ||||||
|
TTEC Holdings Inc. |
9,512 | 756,204 | ||||||
|
Verra Mobility Corp.(a) |
46,739 | 785,215 | ||||||
|
WEX Inc.(a) |
19,845 | 3,344,081 | ||||||
|
|
|
|||||||
| 24,698,934 | ||||||||
| Leisure Products — 0.8% | ||||||||
|
Brunswick Corp./DE |
21,133 | 2,018,624 | ||||||
|
Callaway Golf Co.(a) |
43,739 | 1,082,103 | ||||||
|
Johnson Outdoors Inc., Class A |
9,813 | 809,278 | ||||||
|
Latham Group Inc.(a) |
44,155 | 772,271 | ||||||
|
Malibu Boats Inc., Class A(a) |
12,503 | 871,084 | ||||||
|
Mattel Inc.(a) |
117,877 | 2,944,568 | ||||||
|
Polaris Inc. |
13,581 | 1,650,227 | ||||||
|
YETI Holdings Inc.(a) |
34,005 | 2,093,348 | ||||||
|
|
|
|||||||
| 12,241,503 | ||||||||
| Life Sciences Tools & Services — 0.8% | ||||||||
|
Adaptive Biotechnologies Corp.(a) |
50,776 | 732,698 | ||||||
|
Bruker Corp. |
12,736 | 896,232 | ||||||
|
Maravai LifeSciences Holdings Inc., Class A(a) |
24,183 | 944,830 | ||||||
|
Medpace Holdings Inc.(a) |
6,939 | 1,061,459 | ||||||
|
NanoString Technologies Inc.(a) |
21,748 | 771,184 | ||||||
|
NeoGenomics Inc.(a) |
54,747 | 1,172,133 | ||||||
|
Pacific Biosciences of California Inc.(a) |
65,441 | 780,057 | ||||||
|
Repligen Corp.(a) |
17,892 | 3,519,356 | ||||||
|
Syneos Health Inc.(a) |
22,151 | 1,754,359 | ||||||
|
|
|
|||||||
| 11,632,308 | ||||||||
| Machinery — 4.2% | ||||||||
|
AGCO Corp. |
14,250 | 1,712,280 | ||||||
|
Alamo Group Inc. |
8,176 | 1,137,363 | ||||||
|
Allison Transmission Holdings Inc. |
45,729 | 1,826,416 | ||||||
|
Altra Industrial Motion Corp. |
18,735 | 795,676 | ||||||
|
Astec Industries Inc. |
14,909 | 742,468 | ||||||
|
Chart Industries Inc.(a) |
12,668 | 1,829,259 | ||||||
|
Columbus McKinnon Corp./NY |
19,667 | 897,602 | ||||||
|
Donaldson Co. Inc. |
38,158 | 2,070,835 | ||||||
|
Douglas Dynamics Inc. |
21,432 | 787,412 | ||||||
|
Energy Recovery Inc.(a) |
41,480 | 788,120 | ||||||
|
Enerpac Tool Group Corp. |
45,766 | 789,464 | ||||||
|
EnPro Industries Inc. |
10,818 | 1,194,740 | ||||||
|
ESCO Technologies Inc. |
11,560 | 804,229 | ||||||
|
Evoqua Water Technologies Corp.(a) |
48,919 | 2,086,885 | ||||||
|
Federal Signal Corp. |
34,991 | 1,263,525 | ||||||
|
Flowserve Corp. |
60,383 | 1,833,832 | ||||||
|
Franklin Electric Co. Inc. |
14,399 | 1,217,579 | ||||||
|
Graco Inc. |
58,219 | 4,197,008 | ||||||
| Security | Shares | Value | ||||||
|
Machinery (continued) |
||||||||
|
Hillenbrand Inc. |
24,695 | $ | 1,178,199 | |||||
|
ITT Inc. |
41,642 | 3,659,083 | ||||||
|
John Bean Technologies Corp. |
12,870 | 1,459,072 | ||||||
|
Lincoln Electric Holdings Inc. |
5,940 | 757,112 | ||||||
|
Lindsay Corp. |
5,997 | 786,866 | ||||||
|
Luxfer Holdings PLC |
49,303 | 858,858 | ||||||
|
Manitowoc Co. Inc. (The)(a) |
43,125 | 712,856 | ||||||
|
Meritor Inc.(a) |
30,315 | 1,079,517 | ||||||
|
Middleby Corp. (The)(a) |
14,720 | 2,614,566 | ||||||
|
Mueller Water Products Inc., Class A |
139,606 | 1,771,600 | ||||||
|
Nikola Corp.(a)(b) |
91,887 | 725,907 | ||||||
|
Oshkosh Corp. |
37,154 | 4,125,580 | ||||||
|
Proterra Inc.(a) |
85,858 | 776,156 | ||||||
|
Proto Labs Inc.(a) |
13,271 | 746,228 | ||||||
|
Shyft Group Inc. (The) |
16,768 | 677,595 | ||||||
|
SPX Corp.(a) |
14,869 | 753,858 | ||||||
|
SPX FLOW Inc. |
14,166 | 1,216,718 | ||||||
|
Tennant Co. |
30,760 | 2,423,273 | ||||||
|
Terex Corp. |
19,764 | 815,858 | ||||||
|
Timken Co. (The) |
21,680 | 1,421,341 | ||||||
|
Toro Co. (The) |
51,931 | 4,871,647 | ||||||
|
Trinity Industries Inc. |
24,766 | 714,747 | ||||||
|
Wabash National Corp. |
48,620 | 828,485 | ||||||
|
Watts Water Technologies Inc., Class A |
19,300 | 2,778,235 | ||||||
|
Welbilt Inc.(a) |
47,925 | 1,132,947 | ||||||
|
|
|
|||||||
| 64,860,997 | ||||||||
| Media — 1.0% | ||||||||
|
Altice USA Inc., Class A(a) |
54,392 | 628,771 | ||||||
|
Cardlytics Inc.(a) |
14,087 | 817,046 | ||||||
|
Clear Channel Outdoor Holdings Inc.(a) |
214,259 | 801,329 | ||||||
|
EW Scripps Co. (The), Class A(a) |
49,282 | 1,097,017 | ||||||
|
Gray Television Inc. |
58,462 | 1,369,765 | ||||||
|
iHeartMedia Inc., Class A(a) |
57,020 | 1,223,079 | ||||||
|
John Wiley & Sons Inc., Class A |
26,643 | 1,340,409 | ||||||
|
Magnite Inc.(a) |
59,780 | 871,592 | ||||||
|
New York Times Co. (The), Class A |
57,718 | 2,539,015 | ||||||
|
Nexstar Media Group Inc., Class A |
12,476 | 2,308,684 | ||||||
|
TEGNA Inc. |
95,615 | 2,191,496 | ||||||
|
WideOpenWest Inc.(a) |
41,241 | 700,685 | ||||||
|
|
|
|||||||
| 15,888,888 | ||||||||
| Metals & Mining — 1.9% | ||||||||
|
Alcoa Corp. |
65,005 | 4,897,477 | ||||||
|
Allegheny Technologies Inc.(a) |
41,550 | 1,069,497 | ||||||
|
Arconic Corp.(a) |
41,732 | 1,281,172 | ||||||
|
Cleveland-Cliffs Inc.(a) |
147,215 | 3,291,727 | ||||||
|
Coeur Mining Inc.(a) |
148,901 | 640,274 | ||||||
|
Commercial Metals Co. |
55,450 | 2,137,598 | ||||||
|
Compass Minerals International Inc. |
23,782 | 1,394,101 | ||||||
|
Hecla Mining Co. |
138,367 | 796,994 | ||||||
|
Materion Corp. |
9,182 | 767,156 | ||||||
|
MP Materials Corp.(a)(b) |
17,663 | 805,786 | ||||||
|
Reliance Steel & Aluminum Co. |
27,321 | 5,214,759 | ||||||
|
Royal Gold Inc. |
30,379 | 3,683,758 | ||||||
|
Schnitzer Steel Industries Inc., Class A |
25,173 | 1,224,666 | ||||||
|
United States Steel Corp. |
64,680 | 1,759,943 | ||||||
|
|
|
|||||||
| 28,964,908 | ||||||||
| Mortgage Real Estate Investment — 0.6% | ||||||||
|
Apollo Commercial Real Estate Finance Inc. |
62,875 | 820,519 | ||||||
|
Blackstone Mortgage Trust Inc., Class A |
27,590 | 876,810 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
31 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Mortgage Real Estate Investment (continued) |
||||||||
|
Chimera Investment Corp. |
57,424 | $ | 698,850 | |||||
|
Hannon Armstrong Sustainable Infrastructure Capital Inc. |
37,735 | 1,786,375 | ||||||
|
KKR Real Estate Finance Trust Inc. |
38,345 | 823,267 | ||||||
|
New Residential Investment Corp. |
79,368 | 823,840 | ||||||
|
Starwood Property Trust Inc. |
110,059 | 2,623,807 | ||||||
|
|
|
|||||||
| 8,453,468 | ||||||||
| Multi-Utilities — 0.3% | ||||||||
|
Avista Corp. |
76,142 | 3,398,218 | ||||||
|
Unitil Corp. |
17,127 | 864,742 | ||||||
|
|
|
|||||||
| 4,262,960 | ||||||||
| Multiline Retail — 0.5% | ||||||||
|
Big Lots Inc. |
21,392 | 743,586 | ||||||
|
Franchise Group Inc. |
17,573 | 740,702 | ||||||
|
Kohl’s Corp. |
52,298 | 2,908,815 | ||||||
|
Macy’s Inc. |
104,307 | 2,703,637 | ||||||
|
Nordstrom Inc.(a) |
45,634 | 946,449 | ||||||
|
|
|
|||||||
| 8,043,189 | ||||||||
| Oil, Gas & Consumable Fuels — 3.9% | ||||||||
|
Antero Midstream Corp. |
131,522 | 1,320,481 | ||||||
|
Antero Resources Corp.(a) |
103,804 | 2,380,226 | ||||||
|
APA Corp. |
134,909 | 4,806,808 | ||||||
|
California Resources Corp. |
19,342 | 797,471 | ||||||
|
Callon Petroleum Co.(a)(b) |
14,833 | 835,988 | ||||||
|
Centennial Resource Development Inc./DE, Class A(a) |
98,756 | 867,078 | ||||||
|
Chesapeake Energy Corp. |
11,803 | 911,782 | ||||||
|
Civitas Resources Inc. |
16,769 | 846,331 | ||||||
|
Clean Energy Fuels Corp.(a) |
118,123 | 858,754 | ||||||
|
CNX Resources Corp.(a) |
80,557 | 1,316,301 | ||||||
|
Delek U.S. Holdings Inc.(a) |
45,677 | 787,015 | ||||||
|
Denbury Inc.(a) |
13,835 | 1,005,251 | ||||||
|
DTE Midstream LLC(a) |
25,941 | 1,377,467 | ||||||
|
EnLink Midstream LLC(a) |
116,092 | 1,033,219 | ||||||
|
EQT Corp. |
118,374 | 2,739,174 | ||||||
|
Equitrans Midstream Corp. |
176,647 | 1,132,307 | ||||||
|
Green Plains Inc.(a) |
13,938 | 456,330 | ||||||
|
HollyFrontier Corp. |
67,007 | 2,040,363 | ||||||
|
Kosmos Energy Ltd.(a) |
253,441 | 1,231,723 | ||||||
|
Marathon Oil Corp. |
288,524 | 6,509,102 | ||||||
|
Matador Resources Co. |
31,480 | 1,561,408 | ||||||
|
Murphy Oil Corp. |
51,517 | 1,786,094 | ||||||
|
Oasis Petroleum Inc. |
8,066 | 1,068,826 | ||||||
|
Ovintiv Inc. |
109,146 | 5,004,344 | ||||||
|
PBF Energy Inc., Class A(a) |
42,421 | 705,037 | ||||||
|
PDC Energy Inc. |
24,980 | 1,611,710 | ||||||
|
Range Resources Corp.(a) |
88,969 | 2,041,839 | ||||||
|
Renewable Energy Group Inc.(a) |
21,902 | 1,346,973 | ||||||
|
SM Energy Co. |
38,781 | 1,377,113 | ||||||
|
Southwestern Energy Co.(a)(b) |
242,456 | 1,209,855 | ||||||
|
Targa Resources Corp. |
68,951 | 4,507,327 | ||||||
|
Texas Pacific Land Corp. |
1,581 | 1,879,382 | ||||||
|
Whiting Petroleum Corp. |
11,807 | 871,947 | ||||||
|
World Fuel Services Corp. |
43,341 | 1,228,284 | ||||||
|
|
|
|||||||
| 59,453,310 | ||||||||
| Paper & Forest Products — 0.2% | ||||||||
|
Glatfelter Corp. |
56,661 | 778,522 | ||||||
|
Louisiana-Pacific Corp. |
35,946 | 2,586,315 | ||||||
|
|
|
|||||||
| 3,364,837 | ||||||||
| Security | Shares | Value | ||||||
|
Personal Products — 0.3% |
||||||||
|
Beauty Health Co. (The)(a) |
54,182 | $ | 1,050,047 | |||||
|
Coty Inc., Class A(a) |
82,558 | 757,057 | ||||||
|
Edgewell Personal Care Co. |
35,924 | 1,281,768 | ||||||
|
Herbalife Nutrition Ltd.(a) |
35,275 | 1,255,085 | ||||||
|
Medifast Inc. |
5,336 | 992,496 | ||||||
|
|
|
|||||||
| 5,336,453 | ||||||||
| Pharmaceuticals — 1.4% | ||||||||
|
Aclaris Therapeutics Inc.(a) |
62,918 | 937,478 | ||||||
|
Antares Pharma Inc.(a) |
265,326 | 928,641 | ||||||
|
Arvinas Inc.(a) |
16,098 | 1,043,311 | ||||||
|
Axsome Therapeutics Inc.(a) |
23,852 | 670,480 | ||||||
|
Cassava Sciences Inc.(a)(b) |
15,994 | 679,905 | ||||||
|
Collegium Pharmaceutical Inc.(a) |
34,910 | 679,698 | ||||||
|
Corcept Therapeutics Inc.(a) |
39,303 | 876,064 | ||||||
|
Intra-Cellular Therapies Inc.(a) |
30,967 | 1,718,049 | ||||||
|
Nektar Therapeutics(a) |
69,748 | 714,219 | ||||||
|
NGM Biopharmaceuticals Inc.(a) |
48,159 | 715,643 | ||||||
|
Nuvation Bio Inc.(a) |
147,280 | 745,237 | ||||||
|
Organon & Co. |
75,635 | 2,823,454 | ||||||
|
Pacira BioSciences Inc.(a) |
12,317 | 821,421 | ||||||
|
Perrigo Co. PLC |
56,915 | 2,021,621 | ||||||
|
Phathom Pharmaceuticals Inc.(a) |
40,661 | 737,184 | ||||||
|
Provention Bio Inc.(a)(b) |
118,068 | 740,286 | ||||||
|
Relmada Therapeutics Inc.(a) |
41,884 | 859,041 | ||||||
|
Revance Therapeutics Inc.(a)(b) |
58,046 | 787,684 | ||||||
|
Theravance Biopharma Inc.(a)(b) |
77,026 | 775,652 | ||||||
|
Tilray Inc., Class 2 (a)(b) |
152,826 | 932,239 | ||||||
|
Zogenix Inc.(a) |
29,785 | 782,154 | ||||||
|
|
|
|||||||
| 20,989,461 | ||||||||
| Professional Services — 1.9% | ||||||||
|
ASGN Inc.(a) |
24,201 | 2,681,229 | ||||||
|
CACI International Inc., Class A(a) |
6,052 | 1,693,289 | ||||||
|
Exponent Inc. |
10,536 | 998,391 | ||||||
|
First Advantage Corp.(a) |
43,734 | 706,304 | ||||||
|
FTI Consulting Inc.(a) |
15,651 | 2,285,046 | ||||||
|
Heidrick & Struggles International Inc. |
18,556 | 793,269 | ||||||
|
ICF International Inc. |
14,752 | 1,307,322 | ||||||
|
Insperity Inc. |
11,919 | 1,072,114 | ||||||
|
KBR Inc. |
27,731 | 1,376,567 | ||||||
|
Kelly Services Inc., Class A, NVS |
70,272 | 1,491,172 | ||||||
|
Kforce Inc. |
11,108 | 835,100 | ||||||
|
Korn Ferry |
23,817 | 1,578,114 | ||||||
|
ManpowerGroup Inc. |
28,330 | 3,010,912 | ||||||
|
Nielsen Holdings PLC |
136,773 | 2,382,586 | ||||||
|
Science Applications International Corp. |
11,686 | 1,024,745 | ||||||
|
Skillsoft Corp.(a) |
125,284 | 811,840 | ||||||
|
TriNet Group Inc.(a) |
26,634 | 2,325,415 | ||||||
|
TrueBlue Inc.(a) |
40,502 | 1,101,654 | ||||||
|
Upwork Inc.(a) |
45,323 | 1,145,766 | ||||||
|
|
|
|||||||
| 28,620,835 | ||||||||
| Real Estate Management & Development — 0.9% | ||||||||
|
Cushman & Wakefield PLC(a) |
91,695 | 2,009,954 | ||||||
|
eXp World Holdings Inc.(b) |
26,398 | 705,882 | ||||||
|
Howard Hughes Corp. (The)(a) |
20,446 | 1,954,229 | ||||||
|
Jones Lang LaSalle Inc.(a) |
20,053 | 4,937,450 | ||||||
|
Kennedy-Wilson Holdings Inc. |
38,494 | 852,257 | ||||||
|
Newmark Group Inc., Class A |
50,695 | 896,288 | ||||||
|
Realogy Holdings Corp.(a) |
47,427 | 862,223 | ||||||
| 32 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Real Estate Management & Development (continued) |
| |||||||
|
St Joe Co. (The) |
16,296 | $ | 880,473 | |||||
|
|
|
|||||||
| 13,098,756 | ||||||||
| Road & Rail — 1.1% | ||||||||
|
ArcBest Corp. |
13,429 | 1,244,600 | ||||||
|
Avis Budget Group Inc.(a) |
15,794 | 2,897,251 | ||||||
|
Landstar System Inc. |
20,907 | 3,228,250 | ||||||
|
Ryder System Inc. |
31,395 | 2,475,182 | ||||||
|
Saia Inc.(a) |
9,457 | 2,716,334 | ||||||
|
Schneider National Inc., Class B |
36,169 | 944,734 | ||||||
|
Werner Enterprises Inc. |
48,227 | 2,095,946 | ||||||
|
XPO Logistics Inc.(a) |
27,096 | 1,969,337 | ||||||
|
|
|
|||||||
| 17,571,634 | ||||||||
| Semiconductors & Semiconductor Equipment — 2.8% | ||||||||
|
Ambarella Inc.(a) |
9,267 | 1,294,692 | ||||||
|
Amkor Technology Inc. |
37,506 | 850,261 | ||||||
|
Axcelis Technologies Inc.(a) |
13,679 | 946,860 | ||||||
|
Azenta Inc. |
20,581 | 1,801,249 | ||||||
|
Cirrus Logic Inc.(a) |
29,172 | 2,534,172 | ||||||
|
CMC Materials Inc. |
6,381 | 1,183,229 | ||||||
|
First Solar Inc.(a) |
40,671 | 3,062,120 | ||||||
|
Ichor Holdings Ltd.(a) |
24,028 | 846,506 | ||||||
|
Kulicke & Soffa Industries Inc. |
32,461 | 1,695,763 | ||||||
|
Lattice Semiconductor Corp.(a) |
46,113 | 2,887,596 | ||||||
|
MaxLinear Inc.(a) |
16,810 | 1,031,293 | ||||||
|
MKS Instruments Inc. |
7,865 | 1,184,469 | ||||||
|
Onto Innovation Inc.(a) |
26,666 | 2,298,876 | ||||||
|
Power Integrations Inc. |
17,486 | 1,573,740 | ||||||
|
Rambus Inc.(a) |
55,755 | 1,505,385 | ||||||
|
Semtech Corp.(a) |
16,455 | 1,141,648 | ||||||
|
Silicon Laboratories Inc.(a) |
13,381 | 2,056,793 | ||||||
|
SiTime Corp.(a) |
3,564 | 720,427 | ||||||
|
SunPower Corp.(a) |
46,202 | 828,402 | ||||||
|
Synaptics Inc.(a) |
13,774 | 3,146,395 | ||||||
|
Ultra Clean Holdings Inc.(a)(b) |
17,770 | 814,044 | ||||||
|
Universal Display Corp. |
20,490 | 3,174,106 | ||||||
|
Veeco Instruments Inc.(a) |
45,365 | 1,296,078 | ||||||
|
Wolfspeed Inc.(a) |
47,307 | 4,859,375 | ||||||
|
|
|
|||||||
| 42,733,479 | ||||||||
| Software — 5.4% | ||||||||
|
8x8 Inc.(a) |
54,711 | 709,055 | ||||||
|
ACI Worldwide Inc.(a) |
64,545 | 2,163,548 | ||||||
|
Alarm.com Holdings Inc.(a) |
11,150 | 734,004 | ||||||
|
Altair Engineering Inc., Class A(a)(b) |
20,880 | 1,386,850 | ||||||
|
Alteryx Inc., Class A(a) |
13,445 | 837,623 | ||||||
|
Anaplan Inc.(a) |
39,351 | 1,864,057 | ||||||
|
Appian Corp.(a)(b) |
14,221 | 866,912 | ||||||
|
Aspen Technology Inc.(a) |
25,163 | 3,835,093 | ||||||
|
Avaya Holdings Corp.(a) |
54,405 | 749,157 | ||||||
|
Benefitfocus Inc.(a) |
74,422 | 750,174 | ||||||
|
Blackbaud Inc.(a) |
13,231 | 826,805 | ||||||
|
Blackline Inc.(a) |
26,612 | 2,004,150 | ||||||
|
Bottomline Technologies DE Inc.(a) |
19,725 | 1,117,224 | ||||||
|
Box Inc., Class A(a) |
75,901 | 1,943,825 | ||||||
|
BTRS Holdings Inc.(a) |
126,859 | 773,840 | ||||||
|
CDK Global Inc. |
18,354 | 832,170 | ||||||
|
Cerence Inc.(a) |
18,915 | 683,021 | ||||||
|
CommVault Systems Inc.(a) |
12,659 | 796,378 | ||||||
|
Digital Turbine Inc.(a) |
22,742 | 1,102,532 | ||||||
|
Dolby Laboratories Inc., Class A |
24,587 | 1,846,484 | ||||||
| Security | Shares | Value | ||||||
|
Software (continued) |
||||||||
|
Domo Inc., Class B(a) |
16,137 | $ | 718,097 | |||||
|
Duck Creek Technologies Inc.(a) |
33,283 | 781,485 | ||||||
|
E2open Parent Holdings Inc.(a)(b) |
84,532 | 759,097 | ||||||
|
Elastic NV(a) |
23,570 | 2,042,340 | ||||||
|
Envestnet Inc.(a) |
10,438 | 780,971 | ||||||
|
Everbridge Inc.(a) |
15,851 | 626,432 | ||||||
|
Five9 Inc.(a) |
25,849 | 2,843,390 | ||||||
|
InterDigital Inc. |
13,172 | 848,540 | ||||||
|
Jamf Holding Corp.(a)(b) |
27,586 | 943,717 | ||||||
|
LivePerson Inc.(a)(b) |
28,082 | 569,503 | ||||||
|
Mandiant Inc.(a) |
78,039 | 1,545,172 | ||||||
|
Manhattan Associates Inc.(a) |
19,609 | 2,621,331 | ||||||
|
Marathon Digital Holdings Inc.(a)(b) |
30,007 | 760,677 | ||||||
|
MicroStrategy Inc., Class A(a)(b) |
2,366 | 1,048,138 | ||||||
|
Mimecast Ltd.(a) |
21,994 | 1,749,183 | ||||||
|
Model N Inc.(a)(b) |
31,739 | 780,462 | ||||||
|
Momentive Global Inc.(a) |
63,090 | 991,775 | ||||||
|
N-able Inc.(a) |
67,277 | 778,395 | ||||||
|
Ncino Inc.(a) |
16,814 | 772,267 | ||||||
|
NCR Corp.(a) |
40,549 | 1,643,045 | ||||||
|
New Relic Inc.(a) |
23,579 | 1,561,873 | ||||||
|
Nutanix Inc., Class A(a) |
73,382 | 1,959,299 | ||||||
|
OneSpan Inc.(a) |
48,779 | 672,175 | ||||||
|
PagerDuty Inc.(a) |
30,937 | 1,046,289 | ||||||
|
Paylocity Holding Corp.(a) |
13,574 | 2,883,661 | ||||||
|
Pegasystems Inc. |
8,224 | 716,475 | ||||||
|
Progress Software Corp. |
50,321 | 2,218,150 | ||||||
|
PROS Holdings Inc.(a)(b) |
24,412 | 775,813 | ||||||
|
Q2 Holdings Inc.(a) |
11,993 | 780,145 | ||||||
|
Qualys Inc.(a) |
7,707 | 965,764 | ||||||
|
Rapid7 Inc.(a) |
25,492 | 2,637,402 | ||||||
|
Riot Blockchain Inc.(a)(b) |
39,683 | 683,738 | ||||||
|
SailPoint Technologies Holdings Inc.(a) |
19,424 | 803,571 | ||||||
|
Smartsheet Inc., Class A(a) |
44,129 | 2,346,339 | ||||||
|
Sprinklr Inc.(a) |
62,050 | 744,600 | ||||||
|
Sprout Social Inc., Class A(a) |
15,642 | 1,018,451 | ||||||
|
SPS Commerce Inc.(a) |
16,108 | 2,091,624 | ||||||
|
Tenable Holdings Inc.(a) |
20,794 | 1,151,156 | ||||||
|
Teradata Corp.(a) |
45,102 | 2,254,649 | ||||||
|
Varonis Systems Inc.(a) |
27,139 | 1,183,260 | ||||||
|
Vonage Holdings Corp.(a) |
40,816 | 829,381 | ||||||
|
Workiva Inc.(a) |
24,600 | 2,590,380 | ||||||
|
Xperi Holding Corp. |
44,071 | 763,310 | ||||||
|
Zuora Inc., Class A(a) |
59,147 | 897,851 | ||||||
|
|
|
|||||||
| 83,002,275 | ||||||||
| Specialty Retail — 3.1% | ||||||||
|
Aaron’s Co. Inc. (The) |
37,506 | 787,251 | ||||||
|
Abercrombie & Fitch Co., Class A(a) |
19,368 | 737,533 | ||||||
|
American Eagle Outfitters Inc. |
48,218 | 1,016,435 | ||||||
|
Asbury Automotive Group Inc.(a) |
6,317 | 1,226,193 | ||||||
|
AutoNation Inc.(a)(b) |
11,998 | 1,375,691 | ||||||
|
Bed Bath & Beyond Inc.(a) |
48,393 | 817,358 | ||||||
|
Boot Barn Holdings Inc.(a) |
10,686 | 929,896 | ||||||
|
Caleres Inc. |
34,508 | 716,386 | ||||||
|
Children’s Place Inc. (The)(a) |
11,326 | 713,085 | ||||||
|
Five Below Inc.(a) |
19,080 | 3,121,679 | ||||||
|
Floor & Decor Holdings Inc., Class A(a) |
30,371 | 2,904,075 | ||||||
|
Foot Locker Inc. |
39,243 | 1,240,864 | ||||||
|
GameStop Corp., Class A(a)(b) |
21,185 | 2,612,958 | ||||||
|
Gap Inc. (The) |
123,642 | 1,798,991 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
33 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Specialty Retail (continued) |
||||||||
|
Genesco Inc.(a) |
11,513 | $ | 738,559 | |||||
|
Group 1 Automotive Inc. |
8,207 | 1,493,099 | ||||||
|
Hibbett Inc. |
14,530 | 655,012 | ||||||
|
Leslie’s Inc.(a) |
54,150 | 1,153,936 | ||||||
|
Lithia Motors Inc. |
10,629 | 3,622,576 | ||||||
|
MarineMax Inc.(a) |
16,452 | 752,844 | ||||||
|
Monro Inc. |
21,214 | 990,270 | ||||||
|
Murphy USA Inc. |
13,141 | 2,375,104 | ||||||
|
National Vision Holdings Inc.(a) |
30,810 | 1,129,803 | ||||||
|
ODP Corp. (The)(a) |
18,328 | 806,432 | ||||||
|
Petco Health & Wellness Co. Inc.(a) |
38,190 | 669,089 | ||||||
|
Rent-A-Center Inc./TX |
29,310 | 832,697 | ||||||
|
RH(a) |
4,060 | 1,631,592 | ||||||
|
Sally Beauty Holdings Inc.(a) |
40,948 | 707,581 | ||||||
|
Signet Jewelers Ltd. |
21,344 | 1,504,752 | ||||||
|
Sleep Number Corp.(a) |
11,579 | 760,740 | ||||||
|
TravelCenters of America Inc.(a) |
19,225 | 811,872 | ||||||
|
Urban Outfitters Inc.(a) |
29,196 | 803,182 | ||||||
|
Victoria’s Secret & Co.(a) |
30,706 | 1,646,763 | ||||||
|
Williams-Sonoma Inc. |
29,614 | 4,289,884 | ||||||
|
Zumiez Inc.(a) |
17,287 | 769,099 | ||||||
|
|
|
|||||||
| 48,143,281 | ||||||||
| Technology Hardware, Storage & Peripherals — 0.3% | ||||||||
|
3D Systems Corp.(a) |
40,819 | 727,395 | ||||||
|
Pure Storage Inc., Class A(a) |
78,271 | 2,030,350 | ||||||
|
Xerox Holdings Corp. |
121,789 | 2,400,461 | ||||||
|
|
|
|||||||
| 5,158,206 | ||||||||
| Textiles, Apparel & Luxury Goods — 1.9% | ||||||||
|
Capri Holdings Ltd.(a) |
41,798 | 2,831,396 | ||||||
|
Carter’s Inc. |
18,089 | 1,748,845 | ||||||
|
Columbia Sportswear Co. |
21,246 | 1,969,929 | ||||||
|
Crocs Inc.(a) |
21,493 | 1,799,609 | ||||||
|
Deckers Outdoor Corp.(a) |
11,501 | 3,319,649 | ||||||
|
Hanesbrands Inc. |
171,886 | 2,655,639 | ||||||
|
Kontoor Brands Inc. |
19,793 | 980,545 | ||||||
|
Levi Strauss & Co., Class A |
33,528 | 759,409 | ||||||
|
Movado Group Inc. |
19,837 | 781,975 | ||||||
|
PVH Corp. |
30,811 | 3,016,089 | ||||||
|
Ralph Lauren Corp. |
16,839 | 2,223,422 | ||||||
|
Steven Madden Ltd. |
30,509 | 1,301,514 | ||||||
|
Tapestry Inc. |
91,848 | 3,756,583 | ||||||
|
Under Armour Inc., Class A(a)(b) |
45,305 | 810,506 | ||||||
|
Under Armour Inc., Class C, NVS(a) |
51,038 | 797,724 | ||||||
|
Wolverine World Wide Inc. |
38,077 | 876,913 | ||||||
|
|
|
|||||||
| 29,629,747 | ||||||||
| Thrifts & Mortgage Finance — 1.2% | ||||||||
|
Capitol Federal Financial Inc. |
60,248 | 657,908 | ||||||
|
Essent Group Ltd. |
27,933 | 1,234,080 | ||||||
|
Federal Agricultural Mortgage Corp., Class C, NVS |
14,104 | 1,744,665 | ||||||
|
Flagstar Bancorp. Inc. |
21,108 | 962,103 | ||||||
|
MGIC Investment Corp. |
188,107 | 2,855,464 | ||||||
|
Mr Cooper Group Inc.(a) |
29,557 | 1,502,382 | ||||||
|
New York Community Bancorp. Inc. |
103,137 | 1,190,201 | ||||||
|
PennyMac Financial Services Inc. |
21,738 | 1,255,370 | ||||||
|
Radian Group Inc. |
87,327 | 2,087,115 | ||||||
|
Rocket Companies Inc., Class A |
60,073 | 775,543 | ||||||
|
TFS Financial Corp. |
56,720 | 973,882 | ||||||
| Security | Shares | Value | ||||||
|
Thrifts & Mortgage Finance (continued) |
||||||||
|
Walker & Dunlop Inc |
9,084 | $ | 1,256,771 | |||||
|
Washington Federal Inc. |
28,846 | 1,026,341 | ||||||
|
WSFS Financial Corp. |
10,892 | 553,640 | ||||||
|
|
|
|||||||
| 18,075,465 | ||||||||
| Trading Companies & Distributors — 1.5% | ||||||||
|
Air Lease Corp. |
28,561 | 1,192,707 | ||||||
|
Beacon Roofing Supply Inc.(a) |
19,438 | 1,160,254 | ||||||
|
Boise Cascade Co. |
25,905 | 2,070,846 | ||||||
|
GATX Corp. |
18,154 | 1,935,761 | ||||||
|
GMS Inc.(a) |
21,150 | 1,147,387 | ||||||
|
Herc Holdings Inc. |
7,087 | 1,127,683 | ||||||
|
McGrath RentCorp. |
19,652 | 1,597,315 | ||||||
|
Rush Enterprises Inc., Class A |
15,203 | 789,644 | ||||||
|
SiteOne Landscape Supply Inc.(a) |
21,105 | 3,639,135 | ||||||
|
Triton International Ltd |
33,970 | 2,231,150 | ||||||
|
Univar Solutions Inc.(a) |
33,873 | 1,040,240 | ||||||
|
Veritiv Corp.(a)(b) |
7,613 | 815,885 | ||||||
|
Watsco Inc. |
4,395 | 1,200,099 | ||||||
|
WESCO International Inc.(a) |
20,419 | 2,485,605 | ||||||
|
|
|
|||||||
| 22,433,711 | ||||||||
|
Water Utilities — 0.2% |
||||||||
|
American States Water Co. |
25,795 | 2,170,907 | ||||||
|
Middlesex Water Co. |
7,796 | 779,522 | ||||||
|
|
|
|||||||
| 2,950,429 | ||||||||
| Wireless Telecommunication Services — 0.1% | ||||||||
|
Shenandoah Telecommunications Co. |
35,603 | 795,727 | ||||||
|
Telephone and Data Systems Inc. |
47,633 | 826,433 | ||||||
|
|
|
|||||||
| 1,622,160 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 99.8% |
1,528,933,022 | |||||||
|
|
|
|||||||
|
Short-Term Investments |
||||||||
|
Money Market Funds — 2.7% |
||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(d)(e)(f) |
36,814,813 | 36,822,176 | ||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%(d)(e) |
3,780,000 | 3,780,000 | ||||||
|
|
|
|||||||
| 40,602,176 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 2.7% |
40,602,176 | |||||||
|
|
|
|||||||
|
Total
Investments in Securities — 102.5% |
1,569,535,198 | |||||||
|
Other Assets, Less Liabilities — (2.5)% |
(37,966,499 | ) | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 1,531,568,699 | ||||||
|
|
|
|||||||
| (a) |
Non-income producing security. |
| (b) |
All or a portion of this security is on loan. |
| (c) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (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. |
| 34 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended February 28, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||
| Affiliated Issuer | Value at 08/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 02/28/22 |
Shares Held at 02/28/22 |
Income |
Capital Gain |
|||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 43,548,786 | $ | — | $ | (6,714,211 | )(a) | $ | (8,355 | ) | $ | (4,044 | ) | $ | 36,822,176 | 36,814,813 | $ | 130,736 | (b) | $ | — | |||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
1,390,000 | 2,390,000 | (a) | — | — | — | 3,780,000 | 3,780,000 | 113 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | (8,355 | ) | $ | (4,044 | ) | $ | 40,602,176 | $ | 130,849 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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 Outstanding as of Period End
Futures Contracts
|
|
||||||||||||||||
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
|
Long Contracts |
||||||||||||||||
|
Russell 2000 E-Mini Index |
18 | 03/18/22 | $ | 1,840 | $ | (26,257 | ) | |||||||||
|
S&P MidCap 400 E-Mini Index |
5 | 03/18/22 | 1,329 | (11,601 | ) | |||||||||||
|
|
|
|||||||||||||||
| $ | (37,858 | ) | ||||||||||||||
|
|
|
|||||||||||||||
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Liabilities — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized depreciation on futures contracts(a) |
$ | 37,858 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended February 28, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | (167,459 | ) | |
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | (74,684 | ) | |
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$ | 2,601,745 | ||
|
|
||||
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
|
S C H E D U L E O F I N V E S T M E N T S |
35 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG Aware MSCI USA Small-Cap ETF |
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 |
||||||||||||||||
|
Common Stocks |
$ | 1,528,929,945 | $ | — | $ | 3,077 | $ | 1,528,933,022 | ||||||||
|
Money Market Funds |
40,602,176 | — | — | 40,602,176 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 1,569,532,121 | $ | — | $ | 3,077 | $ | 1,569,535,198 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Liabilities |
||||||||||||||||
|
Futures Contracts |
$ | (37,858 | ) | $ | — | $ | — | $ | (37,858 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
| 36 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) February 28, 2022 |
iShares® ESG MSCI EM Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
|
Brazil — 3.3% |
||||||||
|
Americanas SA |
12,952 | $ | 75,901 | |||||
|
Atacadao SA |
9,263 | 34,145 | ||||||
|
B3 SA - Brasil, Bolsa, Balcao |
125,128 | 352,033 | ||||||
|
Banco Bradesco SA |
28,911 | 94,824 | ||||||
|
Banco do Brasil SA |
17,415 | 117,744 | ||||||
|
Banco Santander Brasil SA |
8,651 | 51,276 | ||||||
|
CCR SA |
25,388 | 57,759 | ||||||
|
Cosan SA |
21,514 | 88,203 | ||||||
|
Energisa SA |
4,043 | 34,498 | ||||||
|
Equatorial Energia SA |
20,181 | 99,801 | ||||||
|
Hapvida Participacoes e Investimentos SA(a) |
65,600 | 153,556 | ||||||
|
Hypera SA |
7,561 | 49,048 | ||||||
|
Klabin SA |
14,321 | 64,325 | ||||||
|
Localiza Rent a Car SA |
12,717 | 141,570 | ||||||
|
Lojas Renner SA |
19,844 | 98,086 | ||||||
|
Natura & Co. Holding SA(b) |
18,691 | 83,408 | ||||||
|
Petro Rio SA(b) |
14,337 | 72,862 | ||||||
|
Raia Drogasil SA |
21,831 | 98,832 | ||||||
|
Rede D’Or Sao Luiz SA(a) |
8,531 | 84,039 | ||||||
|
Rumo SA(b) |
27,055 | 81,053 | ||||||
|
Telefonica Brasil SA |
10,331 | 101,312 | ||||||
|
TIM SA |
17,433 | 46,241 | ||||||
|
TOTVS SA |
10,377 | 66,477 | ||||||
|
Ultrapar Participacoes SA |
14,927 | 41,980 | ||||||
|
WEG SA |
34,773 | 197,016 | ||||||
|
|
|
|||||||
| 2,385,989 | ||||||||
| Chile — 0.3% | ||||||||
|
Empresas CMPC SA |
23,507 | 38,837 | ||||||
|
Empresas COPEC SA |
8,100 | 62,838 | ||||||
|
Enel Americas SA |
458,463 | 53,682 | ||||||
|
Falabella SA |
15,717 | 51,721 | ||||||
|
|
|
|||||||
| 207,078 | ||||||||
| China — 31.4% | ||||||||
|
360 Security Technology Inc., Class A(b) |
7,800 | 12,983 | ||||||
|
3SBio Inc.(a)(b) |
26,000 | 20,664 | ||||||
|
51job Inc., ADR(b) |
664 | 34,395 | ||||||
|
AAC Technologies Holdings Inc. |
14,500 | 39,646 | ||||||
|
Air China Ltd., Class A(b) |
8,000 | 12,529 | ||||||
|
Air China Ltd., Class H(b) |
42,000 | 32,301 | ||||||
|
Alibaba Group Holding Ltd.(b) |
244,116 | 3,213,512 | ||||||
|
Alibaba Health Information Technology Ltd.(b) |
86,000 | 60,220 | ||||||
|
A-Living Smart City Services Co. Ltd., Class A(a) |
11,250 | 20,166 | ||||||
|
Angel Yeast Co. Ltd., Class A |
900 | 7,138 | ||||||
|
Anjoy Foods Group Co Ltd., Class A |
300 | 5,885 | ||||||
|
BBMG Corp., Class A |
10,800 | 4,939 | ||||||
|
Beijing Capital International Airport Co. Ltd., Class H(b) |
36,000 | 23,058 | ||||||
|
Beijing Enterprises Water Group Ltd. |
88,000 | 34,767 | ||||||
|
BOC Aviation Ltd.(a) |
4,100 | 35,641 | ||||||
|
BYD Co. Ltd., Class A |
2,200 | 88,466 | ||||||
|
BYD Co. Ltd., Class H |
17,000 | 526,785 | ||||||
|
By-Health Co Ltd, Class A |
1,900 | 7,481 | ||||||
|
CanSino Biologics Inc., Class A(b) |
169 | 6,758 | ||||||
|
CanSino Biologics Inc., Class H(a)(b) |
1,800 | 32,532 | ||||||
|
CECEP Wind Power Corp, Class A |
6,400 | 5,724 | ||||||
|
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A |
365 | 8,956 | ||||||
|
China Communications Services Corp. Ltd., Class H |
54,000 | 29,626 | ||||||
|
China Conch Venture Holdings Ltd. |
34,000 | 163,616 | ||||||
| Security | Shares | Value | ||||||
|
China (continued) |
||||||||
|
China Construction Bank Corp., Class A |
9,300 | $ | 8,897 | |||||
|
China Construction Bank Corp., Class H |
1,976,000 | 1,481,930 | ||||||
|
China Eastern Airlines Corp. Ltd., Class A(b) |
9,800 | 8,392 | ||||||
|
China Education Group Holdings Ltd. |
15,000 | 12,851 | ||||||
|
China Everbright Environment Group Ltd. |
73,000 | 52,412 | ||||||
|
China Feihe Ltd.(a) |
75,000 | 89,494 | ||||||
|
China Gas Holdings Ltd. |
64,200 | 101,460 | ||||||
|
China Jinmao Holdings Group Ltd. |
116,000 | 38,575 | ||||||
|
China Jushi Co. Ltd., Class A |
4,678 | 12,700 | ||||||
|
China Lesso Group Holdings Ltd. |
20,000 | 30,792 | ||||||
|
China Medical System Holdings Ltd. |
27,000 | 48,078 | ||||||
|
China Mengniu Dairy Co. Ltd. |
65,000 | 422,657 | ||||||
|
China Merchants Bank Co. Ltd., Class H |
80,000 | 674,345 | ||||||
|
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A |
9,500 | 20,378 | ||||||
|
China Molybdenum Co. Ltd., Class A |
27,200 | 26,093 | ||||||
|
China Molybdenum Co. Ltd., Class H |
63,000 | 37,920 | ||||||
|
China National Medicines Corp. Ltd., Class A |
800 | 3,531 | ||||||
|
China Overseas Land & Investment Ltd. |
78,500 | 239,674 | ||||||
|
China Resources Gas Group Ltd. |
20,000 | 91,860 | ||||||
|
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A |
1,100 | 6,236 | ||||||
|
China Ruyi Holdings Ltd.(b) |
52,000 | 15,476 | ||||||
|
China Southern Airlines Co. Ltd., Class A(b) |
14,500 | 15,921 | ||||||
|
China Southern Airlines Co. Ltd., Class H(b) |
32,000 | 20,245 | ||||||
|
China Three Gorges Renewables Group Co. Ltd. |
35,300 | 39,844 | ||||||
|
China Tourism Group Duty Free Corp. Ltd., Class A |
2,400 | 77,517 | ||||||
|
China Vanke Co. Ltd., Class A |
11,700 | 35,611 | ||||||
|
China Vanke Co. Ltd., Class H |
34,600 | 82,181 | ||||||
|
CIFI Ever Sunshine Services Group Ltd. |
16,000 | 29,097 | ||||||
|
CIFI Holdings Group Co. Ltd. |
66,500 | 46,331 | ||||||
|
CITIC Ltd. |
122,000 | 142,365 | ||||||
|
Contemporary Amperex Technology Co. Ltd., Class A |
2,900 | 248,412 | ||||||
|
Country Garden Services Holdings Co. Ltd. |
41,000 | 245,260 | ||||||
|
CSPC Pharmaceutical Group Ltd. |
185,360 | 219,719 | ||||||
|
Dali Foods Group Co. Ltd.(a) |
41,500 | 21,857 | ||||||
|
Dongfeng Motor Group Co. Ltd., Class H |
54,000 | 46,479 | ||||||
|
ENN Energy Holdings Ltd. |
16,300 | 236,063 | ||||||
|
ENN Natural Gas Co. Ltd., Class A |
2,900 | 8,237 | ||||||
|
Eve Energy Co. Ltd., Class A |
2,432 | 34,901 | ||||||
|
Fosun International Ltd. |
54,500 | 59,133 | ||||||
|
Fuyao Glass Industry Group Co. Ltd., Class A |
2,900 | 20,354 | ||||||
|
Fuyao Glass Industry Group Co. Ltd., Class H(a) |
12,000 | 58,873 | ||||||
|
Ganfeng Lithium Co. Ltd., Class A |
1,300 | 31,610 | ||||||
|
Ganfeng Lithium Co. Ltd., Class H(a) |
5,600 | 95,044 | ||||||
|
Geely Automobile Holdings Ltd. |
123,000 | 229,105 | ||||||
|
GEM Co. Ltd., Class A |
5,800 | 8,861 | ||||||
|
Genscript Biotech Corp.(b) |
24,000 | 95,160 | ||||||
|
GoerTek Inc., Class A |
4,000 | 28,006 | ||||||
|
Gotion High-tech Co. Ltd., Class A(b) |
1,900 | 13,038 | ||||||
|
Great Wall Motor Co. Ltd., Class A |
2,800 | 16,353 | ||||||
|
Great Wall Motor Co. Ltd., Class H |
63,500 | 133,687 | ||||||
|
Greenland Holdings Corp. Ltd., Class A |
10,745 | 7,366 | ||||||
|
Greentown Service Group Co. Ltd. |
28,000 | 28,127 | ||||||
|
Guangzhou Automobile Group Co. Ltd., Class H |
58,000 | 57,423 | ||||||
|
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A |
1,600 | 7,546 | ||||||
|
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A |
500 | 6,665 | ||||||
|
Guangzhou R&F Properties Co. Ltd., Class H(c) |
34,000 | 14,474 | ||||||
|
Hangzhou Robam Appliances Co. Ltd., Class A |
1,100 | 5,818 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
37 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI EM Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
China (continued) |
||||||||
|
Hansoh Pharmaceutical Group Co. Ltd.(a) |
26,000 | $ | 55,502 | |||||
|
Hopson Development Holdings Ltd. |
14,490 | 29,828 | ||||||
|
Huaxia Bank Co. Ltd., Class A |
16,900 | 15,086 | ||||||
|
Hutchmed China Ltd, ADR(b)(c) |
1,747 | 47,606 | ||||||
|
Industrial Bank Co. Ltd., Class A |
25,100 | 87,935 | ||||||
|
Inner Mongolia Yili Industrial Group Co. Ltd., Class A |
8,200 | 51,434 | ||||||
|
Jafron Biomedical Co. Ltd., Class A |
900 | 6,551 | ||||||
|
JDcom Inc, Class A(b) |
2,933 | 104,765 | ||||||
|
Jiangsu Zhongtian Technology Co. Ltd., Class A |
3,600 | 10,700 | ||||||
|
Jinke Properties Group Co. Ltd., Class A |
6,400 | 4,559 | ||||||
|
Jinmao Property Services Co. Ltd. |
1,752 | 445 | ||||||
|
Jinxin Fertility Group Ltd.(a)(b) |
24,500 | 28,647 | ||||||
|
Kingdee International Software Group Co. Ltd.(b) |
53,000 | 130,997 | ||||||
|
Kuang-Chi Technologies Co. Ltd., Class A(b) |
2,200 | 7,090 | ||||||
|
Kunlun Energy Co. Ltd. |
82,000 | 80,662 | ||||||
|
KWG Group Holdings Ltd. |
27,500 | 12,876 | ||||||
|
Lee & Man Paper Manufacturing Ltd. |
26,000 | 16,714 | ||||||
|
Lenovo Group Ltd. |
148,000 | 164,808 | ||||||
|
Li Auto Inc., ADR(b)(c) |
11,417 | 347,648 | ||||||
|
Li Ning Co. Ltd. |
48,000 | 479,431 | ||||||
|
Logan Group Co. Ltd. |
28,000 | 9,316 | ||||||
|
Longfor Group Holdings Ltd.(a) |
37,000 | 197,858 | ||||||
|
Meituan, Class B(a)(b) |
84,000 | 1,866,073 | ||||||
|
Microport Scientific Corp. |
13,800 | 38,386 | ||||||
|
Ming Yang Smart Energy Group Ltd., Class A |
2,200 | 9,046 | ||||||
|
Minth Group Ltd. |
16,000 | 57,853 | ||||||
|
NIO Inc., ADR(b) |
26,908 | 614,579 | ||||||
|
Offshore Oil Engineering Co. Ltd., Class A |
5,400 | 4,228 | ||||||
|
Ovctek China Inc., Class A |
960 | 6,266 | ||||||
|
Pharmaron Beijing Co. Ltd., Class A |
1,000 | 19,192 | ||||||
|
Pharmaron Beijing Co. Ltd., Class H(a) |
2,700 | 32,735 | ||||||
|
Ping An Insurance Group Co. of China Ltd., Class A |
13,100 | 105,601 | ||||||
|
Ping An Insurance Group Co. of China Ltd., Class H |
130,500 | 1,011,853 | ||||||
|
Poly Developments and Holdings Group Co. Ltd., Class A |
14,500 | 36,315 | ||||||
|
Shandong Weigao Group Medical Polymer Co. Ltd., Class H |
49,600 | 68,487 | ||||||
|
Shanghai Electric Group Co. Ltd., Class A |
17,000 | 11,898 | ||||||
|
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A |
3,000 | 20,228 | ||||||
|
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H |
9,500 | 38,090 | ||||||
|
Shanghai M&G Stationery Inc., Class A |
1,000 | 8,620 | ||||||
|
Shanghai Pharmaceuticals Holding Co. Ltd., Class A |
2,200 | 6,534 | ||||||
|
Shanghai Pharmaceuticals Holding Co. Ltd., Class H |
14,600 | 26,354 | ||||||
|
Shenzhen Inovance Technology Co. Ltd., Class A |
3,750 | 38,167 | ||||||
|
Shenzhen International Holdings Ltd. |
26,500 | 27,305 | ||||||
|
Shenzhen Overseas Chinese Town Co. Ltd., Class A |
9,800 | 10,721 | ||||||
|
Shenzhou International Group Holdings Ltd. |
16,900 | 283,863 | ||||||
|
Shimao Group Holdings Ltd.(c) |
26,000 | 15,603 | ||||||
|
Sino Biopharmaceutical Ltd. |
209,500 | 133,737 | ||||||
|
Sinotrans Ltd., Class A |
3,100 | 2,115 | ||||||
|
Sinotruk Hong Kong Ltd. |
14,000 | 20,897 | ||||||
|
Skshu Paint Co. Ltd., Class A |
400 | 5,632 | ||||||
|
Sungrow Power Supply Co. Ltd., Class A |
1,900 | 36,792 | ||||||
|
Suningcom Co Ltd, Class A(b) |
11,000 | 6,275 | ||||||
|
TCL Technology Group Corp., Class A |
20,000 | 17,676 | ||||||
|
Tencent Holdings Ltd. |
61,000 | 3,291,640 | ||||||
|
Tongcheng Travel Holdings Ltd.(b) |
21,600 | 40,229 | ||||||
|
Topchoice Medical Corp., Class A(b) |
400 | 10,263 | ||||||
|
Topsports International Holdings Ltd.(a) |
31,000 | 32,225 | ||||||
|
Transfar Zhilian Co. Ltd., Class A |
3,600 | 4,407 | ||||||
|
Uni-President China Holdings Ltd. |
26,000 | 27,037 | ||||||
|
Unisplendour Corp. Ltd., Class A |
3,900 | 13,595 | ||||||
| Security | Shares | Value | ||||||
|
China (continued) |
||||||||
|
Vinda International Holdings Ltd. |
7,000 | $ | 19,931 | |||||
|
Vipshop Holdings Ltd., ADR(b) |
9,337 | 80,952 | ||||||
|
Want Want China Holdings Ltd. |
96,000 | 102,194 | ||||||
|
Wuchan Zhongda Group Co. Ltd., Class A |
4,300 | 3,860 | ||||||
|
Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd., Class A |
2,700 | 8,967 | ||||||
|
WuXi AppTec Co. Ltd., Class A |
3,092 | 51,180 | ||||||
|
WuXi AppTec Co. Ltd., Class H(a) |
7,260 | 103,342 | ||||||
|
Wuxi Biologics Cayman Inc., New(a)(b) |
73,000 | 603,813 | ||||||
|
Xiamen Intretech Inc., Class A |
875 | 4,122 | ||||||
|
Xinjiang Goldwind Science & Technology Co. Ltd., Class A |
4,100 | 9,787 | ||||||
|
Xinjiang Goldwind Science & Technology Co. Ltd., Class H |
15,600 | 25,524 | ||||||
|
Xinyi Solar Holdings Ltd. |
100,000 | 181,637 | ||||||
|
XPeng Inc., ADR(b) |
8,039 | 292,378 | ||||||
|
Yadea Group Holdings Ltd.(a) |
26,000 | 38,572 | ||||||
|
Yantai Jereh Oilfield Services Group Co. Ltd., Class A |
1,100 | 7,881 | ||||||
|
Yum China Holdings Inc. |
8,717 | 453,458 | ||||||
|
Yunnan Baiyao Group Co. Ltd., Class A |
1,400 | 20,002 | ||||||
|
Zhejiang Chint Electrics Co. Ltd., Class A |
2,600 | 20,723 | ||||||
|
Zhejiang Expressway Co. Ltd., Class H |
32,000 | 28,867 | ||||||
|
Zhejiang Huayou Cobalt Co. Ltd., Class A |
1,700 | 33,621 | ||||||
|
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A |
900 | 6,854 | ||||||
|
Zhejiang Weixing New Building Materials Co. Ltd., Class A |
1,800 | 6,630 | ||||||
|
Zhongsheng Group Holdings Ltd. |
12,000 | 83,795 | ||||||
|
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A |
8,600 | 9,634 | ||||||
|
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H |
27,000 | 17,961 | ||||||
|
|
|
|||||||
| 22,424,882 | ||||||||
| Czech Republic — 0.1% | ||||||||
|
Komercni Banka AS(b) |
1,617 | 63,614 | ||||||
|
Moneta Money Bank AS(a) |
7,349 | 29,098 | ||||||
|
|
|
|||||||
| 92,712 | ||||||||
| Egypt — 0.2% | ||||||||
|
Commercial International Bank Egypt SAE(b) |
33,484 | 101,986 | ||||||
|
|
|
|||||||
| Greece — 0.3% | ||||||||
|
Eurobank Ergasias Services and Holdings SA, Class A(b) |
52,838 | 57,881 | ||||||
|
Hellenic Telecommunications Organization SA |
4,517 | 90,349 | ||||||
|
Public Power Corp. SA(b) |
4,204 | 39,925 | ||||||
|
|
|
|||||||
| 188,155 | ||||||||
| Hungary — 0.3% | ||||||||
|
MOL Hungarian Oil & Gas PLC |
8,627 | 67,293 | ||||||
|
OTP Bank Nyrt(b) |
4,537 | 173,129 | ||||||
|
|
|
|||||||
| 240,422 | ||||||||
| India — 14.5% | ||||||||
|
Adani Green Energy Ltd.(b) |
7,990 | 196,610 | ||||||
|
Adani Total Gas Ltd. |
5,531 | 116,606 | ||||||
|
Asian Paints Ltd. |
7,830 | 330,904 | ||||||
|
Axis Bank Ltd.(b) |
46,300 | 459,349 | ||||||
|
Bajaj Auto Ltd. |
1,380 | 64,940 | ||||||
|
Bandhan Bank Ltd.(a) |
13,275 | 54,299 | ||||||
|
Berger Paints India Ltd. |
5,098 | 46,822 | ||||||
|
Bharat Petroleum Corp. Ltd. |
17,460 | 81,441 | ||||||
|
Biocon Ltd.(b) |
9,041 | 42,019 | ||||||
|
Britannia Industries Ltd. |
2,262 | 103,249 | ||||||
|
Colgate-Palmolive India Ltd. |
2,613 | 50,409 | ||||||
|
Dabur India Ltd. |
12,884 | 96,597 | ||||||
|
DLF Ltd. |
12,830 | 60,202 | ||||||
| 38 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI EM Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
India (continued) |
||||||||
|
Eicher Motors Ltd. |
2,872 | $ | 99,200 | |||||
|
Grasim Industries Ltd. |
5,384 | 114,898 | ||||||
|
Havells India Ltd. |
5,214 | 82,373 | ||||||
|
HCL Technologies Ltd. |
22,471 | 337,901 | ||||||
|
Hero MotoCorp Ltd. |
2,519 | 85,329 | ||||||
|
Hindalco Industries Ltd. |
32,204 | 247,492 | ||||||
|
Hindustan Unilever Ltd. |
16,786 | 485,423 | ||||||
|
Housing Development Finance Corp. Ltd. |
35,220 | 1,113,156 | ||||||
|
Indraprastha Gas Ltd. |
4,973 | 22,892 | ||||||
|
Info Edge India Ltd. |
1,562 | 92,851 | ||||||
|
Infosys Ltd. |
69,015 | 1,572,843 | ||||||
|
Lupin Ltd. |
4,515 | 44,854 | ||||||
|
Mahindra & Mahindra Ltd. |
17,803 | 187,940 | ||||||
|
Marico Ltd. |
10,797 | 73,917 | ||||||
|
Motherson Sumi Systems Ltd. |
26,172 | 52,620 | ||||||
|
Motherson Sumi Wiring India Ltd.(b) |
26,172 | 16,141 | ||||||
|
Nestle India Ltd. |
704 | 165,338 | ||||||
|
PI Industries Ltd. |
1,698 | 55,884 | ||||||
|
Piramal Enterprises Ltd. |
2,297 | 63,502 | ||||||
|
Reliance Industries Ltd. |
58,516 | 1,842,183 | ||||||
|
Shree Cement Ltd. |
218 | 70,971 | ||||||
|
Siemens Ltd. |
1,562 | 48,867 | ||||||
|
State Bank of India |
37,015 | 239,124 | ||||||
|
Tata Consultancy Services Ltd. |
18,954 | 897,884 | ||||||
|
Titan Co. Ltd. |
7,353 | 249,756 | ||||||
|
Trent Ltd. |
3,579 | 52,931 | ||||||
|
UPL Ltd. |
10,392 | 92,359 | ||||||
|
Wipro Ltd. |
27,708 | 204,894 | ||||||
|
|
|
|||||||
| 10,316,970 | ||||||||
| Indonesia — 1.3% | ||||||||
|
Aneka Tambang Tbk |
160,600 | 25,021 | ||||||
|
Bank Central Asia Tbk PT |
1,132,700 | 639,483 | ||||||
|
Barito Pacific Tbk PT |
596,000 | 37,164 | ||||||
|
Indah Kiat Pulp & Paper Tbk PT |
59,800 | 33,794 | ||||||
|
Kalbe Farma Tbk PT |
416,300 | 47,666 | ||||||
|
Merdeka Copper Gold Tbk PT(b) |
234,700 | 63,551 | ||||||
|
Tower Bersama Infrastructure Tbk PT |
152,900 | 31,444 | ||||||
|
Unilever Indonesia Tbk PT |
166,800 | 42,922 | ||||||
|
|
|
|||||||
| 921,045 | ||||||||
| Kuwait — 0.4% | ||||||||
|
Kuwait Finance House KSCP |
96,163 | 300,818 | ||||||
|
|
|
|||||||
| Malaysia — 2.4% | ||||||||
|
AMMB Holdings Bhd(b) |
37,500 | 30,075 | ||||||
|
Axiata Group Bhd |
55,600 | 52,044 | ||||||
|
CIMB Group Holdings Bhd |
134,600 | 183,351 | ||||||
|
Dialog Group Bhd |
84,400 | 56,861 | ||||||
|
DiGi.Com Bhd |
63,500 | 61,389 | ||||||
|
Fraser & Neave Holdings Bhd |
2,600 | 13,995 | ||||||
|
HAP Seng Consolidated Bhd |
12,300 | 22,206 | ||||||
|
Hartalega Holdings Bhd |
34,600 | 38,074 | ||||||
|
IHH Healthcare Bhd |
35,400 | 55,538 | ||||||
|
Kuala Lumpur Kepong Bhd |
8,700 | 53,876 | ||||||
|
Malayan Banking Bhd |
97,200 | 203,095 | ||||||
|
Malaysia Airports Holdings Bhd(b) |
23,663 | 34,662 | ||||||
|
Maxis Bhd |
47,400 | 45,444 | ||||||
|
MISC Bhd |
27,000 | 47,357 | ||||||
|
Nestle Malaysia Bhd |
1,500 | 47,935 | ||||||
|
Petronas Dagangan Bhd |
6,000 | 30,754 | ||||||
|
Petronas Gas Bhd |
16,200 | 67,253 | ||||||
| Security | Shares | Value | ||||||
|
Malaysia (continued) |
||||||||
|
PPB Group Bhd |
13,100 | $ | 55,976 | |||||
|
Press Metal Aluminium Holdings Bhd |
65,700 | 106,879 | ||||||
|
Public Bank Bhd |
301,300 | 319,994 | ||||||
|
QL Resources Bhd |
22,000 | 25,938 | ||||||
|
RHB Bank Bhd |
37,000 | 52,144 | ||||||
|
Sime Darby Bhd |
55,000 | 29,785 | ||||||
|
Telekom Malaysia Bhd |
22,700 | 27,358 | ||||||
|
Top Glove Corp. Bhd |
112,100 | 54,735 | ||||||
|
Westports Holdings Bhd |
20,500 | 19,091 | ||||||
|
|
|
|||||||
| 1,735,809 | ||||||||
| Mexico — 1.9% | ||||||||
|
Arca Continental SAB de CV |
8,800 | 58,057 | ||||||
|
Cemex SAB de CV, NVS(b) |
314,076 | 161,324 | ||||||
|
Coca-Cola Femsa SAB de CV |
10,400 | 57,116 | ||||||
|
Fomento Economico Mexicano SAB de CV |
39,600 | 319,085 | ||||||
|
Gruma SAB de CV, Class B |
4,325 | 58,657 | ||||||
|
Grupo Bimbo SAB de CV, Series A |
31,600 | 97,310 | ||||||
|
Grupo Financiero Banorte SAB de CV, Class O |
53,600 | 362,568 | ||||||
|
Grupo Televisa SAB de CV, CPO |
49,000 | 105,029 | ||||||
|
Industrias Penoles SAB de CV |
3,030 | 37,817 | ||||||
|
Kimberly-Clark de Mexico SAB de CV, Class A |
31,900 | 44,764 | ||||||
|
Telesites SAB de CV |
28,100 | 31,158 | ||||||
|
|
|
|||||||
| 1,332,885 | ||||||||
| Philippines — 0.9% | ||||||||
|
Ayala Land Inc. |
163,900 | 124,947 | ||||||
|
Bank of the Philippine Islands |
35,950 | 70,261 | ||||||
|
Globe Telecom Inc. |
540 | 27,133 | ||||||
|
GT Capital Holdings Inc. |
1,950 | 22,083 | ||||||
|
JG Summit Holdings Inc. |
59,778 | 70,607 | ||||||
|
SM Investments Corp. |
5,070 | 88,209 | ||||||
|
SM Prime Holdings Inc. |
211,900 | 165,386 | ||||||
|
Universal Robina Corp. |
17,630 | 41,264 | ||||||
|
|
|
|||||||
| 609,890 | ||||||||
| Poland — 1.1% | ||||||||
|
Bank Polska Kasa Opieki SA |
3,706 | 101,670 | ||||||
|
CD Projekt SA |
1,470 | 58,388 | ||||||
|
Cyfrowy Polsat SA |
5,359 | 34,748 | ||||||
|
KGHM Polska Miedz SA |
2,820 | 110,733 | ||||||
|
Orange Polska SA(b) |
13,716 | 25,452 | ||||||
|
Polski Koncern Naftowy ORLEN SA |
6,095 | 102,956 | ||||||
|
Powszechna Kasa Oszczednosci Bank Polski SA(b) |
18,195 | 174,864 | ||||||
|
Powszechny Zaklad Ubezpieczen SA |
12,616 | 94,653 | ||||||
|
Santander Bank Polska SA |
711 | 53,300 | ||||||
|
|
|
|||||||
| 756,764 | ||||||||
| Qatar — 1.0% | ||||||||
|
Commercial Bank PSQC (The) |
41,438 | 78,593 | ||||||
|
Ooredoo QPSC |
16,286 | 34,248 | ||||||
|
Qatar Fuel QSC |
9,092 | 46,336 | ||||||
|
Qatar National Bank QPSC |
92,863 | 555,924 | ||||||
|
|
|
|||||||
| 715,101 | ||||||||
| Russia — 0.8% | ||||||||
|
Gazprom PJSC(d) |
244,340 | 196,971 | ||||||
|
LUKOIL PJSC(d) |
8,544 | 149,140 | ||||||
|
Mobile TeleSystems PJSC, ADR |
9,473 | 52,101 | ||||||
|
Moscow Exchange MICEX-RTS PJSC(d) |
30,360 | 10,218 | ||||||
|
Novatek PJSC, GDR |
1,863 | 71,767 | ||||||
|
Novolipetsk Steel PJSC(d) |
31,136 | 19,774 | ||||||
|
PhosAgro PJSC, GDR |
2,748 | 16,812 | ||||||
|
Polymetal International PLC(d) |
7,120 | 21,594 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
39 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI EM Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Russia (continued) |
||||||||
|
Polyus PJSC(d) |
698 | $ | 26,299 | |||||
|
|
|
|||||||
| 564,676 | ||||||||
| Saudi Arabia — 1.6% | ||||||||
|
Almarai Co. JSC |
4,942 | 66,259 | ||||||
|
Bank AlBilad(b) |
7,334 | 115,420 | ||||||
|
Dr Sulaiman Al Habib Medical Services Group Co. |
1,098 | 50,211 | ||||||
|
Saudi Arabian Mining Co.(b) |
8,976 | 256,234 | ||||||
|
Saudi Basic Industries Corp. |
18,373 | 612,507 | ||||||
|
Savola Group (The) |
5,502 | 49,846 | ||||||
|
|
|
|||||||
| 1,150,477 | ||||||||
| South Africa — 6.4% | ||||||||
|
Absa Group Ltd. |
14,889 | 171,043 | ||||||
|
Anglo American Platinum Ltd. |
1,072 | 167,323 | ||||||
|
Aspen Pharmacare Holdings Ltd. |
7,978 | 104,289 | ||||||
|
Bid Corp. Ltd. |
6,779 | 137,729 | ||||||
|
Bidvest Group Ltd (The) |
5,885 | 80,632 | ||||||
|
Capitec Bank Holdings Ltd. |
1,670 | 225,471 | ||||||
|
Clicks Group Ltd. |
4,894 | 95,151 | ||||||
|
Discovery Ltd.(b) |
8,996 | 92,128 | ||||||
|
FirstRand Ltd. |
103,550 | 445,851 | ||||||
|
Gold Fields Ltd. |
18,010 | 250,767 | ||||||
|
Growthpoint Properties Ltd. |
70,928 | 61,812 | ||||||
|
Impala Platinum Holdings Ltd. |
16,782 | 320,106 | ||||||
|
Kumba Iron Ore Ltd. |
1,328 | 52,494 | ||||||
|
MTN Group Ltd.(b) |
34,791 | 434,280 | ||||||
|
MultiChoice Group |
7,832 | 64,189 | ||||||
|
Naspers Ltd., Class N |
4,477 | 563,791 | ||||||
|
Nedbank Group Ltd. |
9,552 | 135,792 | ||||||
|
NEPI Rockcastle PLC |
8,994 | 57,482 | ||||||
|
Northam Platinum Holdings Ltd.(b) |
7,026 | 113,444 | ||||||
|
Old Mutual Ltd. |
97,713 | 80,070 | ||||||
|
Remgro Ltd. |
10,998 | 99,943 | ||||||
|
Sanlam Ltd. |
38,711 | 163,133 | ||||||
|
Shoprite Holdings Ltd. |
10,455 | 155,950 | ||||||
|
SPAR Group Ltd. (The) |
4,064 | 43,367 | ||||||
|
Standard Bank Group Ltd. |
27,155 | 287,735 | ||||||
|
Vodacom Group Ltd. |
13,342 | 128,429 | ||||||
|
Woolworths Holdings Ltd. |
20,738 | 68,284 | ||||||
|
|
|
|||||||
| 4,600,685 | ||||||||
| South Korea — 7.5% | ||||||||
|
Amorepacific Corp. |
665 | 102,650 | ||||||
|
AMOREPACIFIC Group |
542 | 22,144 | ||||||
|
BGF retail Co. Ltd. |
157 | 22,242 | ||||||
|
Celltrion Healthcare Co. Ltd. |
1,799 | 95,685 | ||||||
|
CJ CheilJedang Corp. |
167 | 52,898 | ||||||
|
CJ Corp. |
323 | 22,754 | ||||||
|
CJ Logistics Corp.(b) |
184 | 19,077 | ||||||
|
Coway Co. Ltd. |
1,154 | 69,308 | ||||||
|
Doosan Bobcat Inc. |
1,027 | 32,961 | ||||||
|
GS Engineering & Construction Corp. |
1,296 | 46,577 | ||||||
|
GS Holdings Corp. |
980 | 32,770 | ||||||
|
Hankook Tire & Technology Co. Ltd. |
1,567 | 46,169 | ||||||
|
Hanon Systems |
3,966 | 38,408 | ||||||
|
Hanwha Solutions Corp.(b) |
2,459 | 69,908 | ||||||
|
Hyundai Engineering & Construction Co. Ltd. |
1,658 | 60,405 | ||||||
|
Hyundai Glovis Co. Ltd. |
391 | 57,679 | ||||||
|
Hyundai Heavy Industries Holdings Co. Ltd. |
957 | 41,208 | ||||||
|
Kakao Corp. |
6,424 | 508,760 | ||||||
|
KB Financial Group Inc. |
8,111 | 400,152 | ||||||
| Security | Shares | Value | ||||||
| South Korea (continued) | ||||||||
|
Korean Air Lines Co. Ltd.(b) |
3,516 | $ | 86,623 | |||||
|
LG Chem Ltd. |
947 | 449,393 | ||||||
|
LG Corp. |
1,809 | 113,696 | ||||||
|
LG Display Co. Ltd. |
4,836 | 76,053 | ||||||
|
LG Electronics Inc. |
2,202 | 229,881 | ||||||
|
LG Household & Health Care Ltd. |
195 | 154,722 | ||||||
|
Lotte Chemical Corp. |
366 | 67,454 | ||||||
|
NAVER Corp. |
2,537 | 676,002 | ||||||
|
POSCO Chemical Co. Ltd. |
626 | 59,964 | ||||||
|
Samsung Electro-Mechanics Co. Ltd. |
1,164 | 162,737 | ||||||
|
Samsung Engineering Co. Ltd.(b) |
3,133 | 61,203 | ||||||
|
Samsung Fire & Marine Insurance Co. Ltd. |
635 | 100,978 | ||||||
|
Samsung SDI Co. Ltd. |
1,123 | 517,523 | ||||||
|
Samsung SDS Co. Ltd. |
704 | 82,648 | ||||||
|
Shinhan Financial Group Co. Ltd. |
8,895 | 289,405 | ||||||
|
SK Biopharmaceuticals Co. Ltd.(b) |
554 | 39,323 | ||||||
|
SK Inc. |
846 | 161,594 | ||||||
|
SK Innovation Co. Ltd.(b) |
1,033 | 174,387 | ||||||
|
SK Telecom Co. Ltd. |
552 | 25,189 | ||||||
|
SKC Co. Ltd. |
421 | 48,960 | ||||||
|
Yuhan Corp. |
1,039 | 50,483 | ||||||
|
|
|
|||||||
| 5,369,973 | ||||||||
| Taiwan — 17.2% | ||||||||
|
Acer Inc. |
58,000 | 60,194 | ||||||
|
ASE Technology Holding Co. Ltd. |
67,000 | 242,159 | ||||||
|
AU Optronics Corp. |
165,000 | 123,532 | ||||||
|
Cathay Financial Holding Co. Ltd. |
163,000 | 366,528 | ||||||
|
Chailease Holding Co. Ltd. |
26,502 | 240,519 | ||||||
|
Cheng Shin Rubber Industry Co. Ltd. |
35,000 | 44,775 | ||||||
|
China Steel Corp. |
244,000 | 317,286 | ||||||
|
Chunghwa Telecom Co. Ltd. |
79,000 | 351,125 | ||||||
|
Compal Electronics Inc. |
84,000 | 76,525 | ||||||
|
CTBC Financial Holding Co. Ltd. |
382,000 | 373,396 | ||||||
|
Delta Electronics Inc. |
40,000 | 356,484 | ||||||
|
E.Sun Financial Holding Co Ltd. |
248,140 | 262,297 | ||||||
|
Eclat Textile Co. Ltd. |
4,000 | 82,913 | ||||||
|
Evergreen Marine Corp. Taiwan Ltd. |
52,000 | 273,169 | ||||||
|
Far Eastern New Century Corp. |
59,000 | 62,543 | ||||||
|
Far EasTone Telecommunications Co. Ltd. |
32,000 | 79,147 | ||||||
|
Feng TAY Enterprise Co. Ltd. |
9,000 | 67,089 | ||||||
|
First Financial Holding Co. Ltd. |
209,324 | 192,732 | ||||||
|
Fubon Financial Holding Co. Ltd. |
154,800 | 417,970 | ||||||
|
Hiwin Technologies Corp. |
5,449 | 52,025 | ||||||
|
Hotai Motor Co. Ltd. |
6,000 | 135,849 | ||||||
|
Hua Nan Financial Holdings Co. Ltd. |
178,579 | 141,601 | ||||||
|
Innolux Corp. |
198,000 | 120,486 | ||||||
|
Inventec Corp. |
54,000 | 49,869 | ||||||
|
Lite-On Technology Corp. |
44,000 | 108,191 | ||||||
|
MediaTek Inc. |
31,000 | 1,224,991 | ||||||
|
Mega Financial Holding Co. Ltd. |
224,000 | 301,863 | ||||||
|
Nan Ya Plastics Corp. |
107,000 | 337,478 | ||||||
|
Nien Made Enterprise Co. Ltd. |
3,000 | 38,891 | ||||||
|
Oneness Biotech Co. Ltd.(b) |
5,000 | 44,141 | ||||||
|
President Chain Store Corp. |
12,000 | 112,134 | ||||||
|
Ruentex Development Co. Ltd. |
24,600 | 63,518 | ||||||
|
Shanghai Commercial & Savings Bank Ltd/The |
74,000 | 121,896 | ||||||
|
SinoPac Financial Holdings Co. Ltd. |
203,000 | 124,654 | ||||||
|
Taishin Financial Holding Co. Ltd. |
215,151 | 150,783 | ||||||
|
Taiwan Cement Corp. |
108,000 | 183,343 | ||||||
|
Taiwan High Speed Rail Corp. |
39,000 | 41,276 | ||||||
| 40 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI EM Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Taiwan (continued) |
||||||||
|
Taiwan Mobile Co. Ltd. |
35,000 | $ | 129,426 | |||||
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
166,000 | 3,568,926 | ||||||
|
Uni-President Enterprises Corp. |
99,000 | 238,183 | ||||||
|
United Microelectronics Corp. |
244,000 | 459,782 | ||||||
|
Wan Hai Lines Ltd. |
12,400 | 84,462 | ||||||
|
Yageo Corp. |
9,000 | 147,661 | ||||||
|
Yang Ming Marine Transport Corp.(b) |
35,000 | 147,927 | ||||||
|
Yuanta Financial Holding Co. Ltd. |
200,720 | 179,302 | ||||||
|
|
|
|||||||
| 12,299,041 | ||||||||
| Thailand — 2.8% | ||||||||
|
Advanced Info Service PCL, NVDR |
24,800 | 174,575 | ||||||
|
Airports of Thailand PCL, NVDR(b) |
86,900 | 171,691 | ||||||
|
Asset World Corp. PCL, NVDR(b) |
179,600 | 26,459 | ||||||
|
B Grimm Power PCL, NVDR(c) |
15,800 | 16,763 | ||||||
|
Bangkok Dusit Medical Services PCL, NVDR |
192,700 | 140,105 | ||||||
|
Berli Jucker PCL, NVDR |
24,000 | 24,678 | ||||||
|
BTS Group Holdings PCL, NVDR |
159,600 | 46,523 | ||||||
|
Bumrungrad Hospital PCL, NVDR |
9,500 | 44,767 | ||||||
|
Central Pattana PCL, NVDR |
41,200 | 70,062 | ||||||
|
Charoen Pokphand Foods PCL, NVDR |
83,400 | 64,620 | ||||||
|
CP ALL PCL, NVDR |
118,600 | 247,781 | ||||||
|
Energy Absolute PCL, NVDR |
30,000 | 87,679 | ||||||
|
Home Product Center PCL, NVDR |
122,800 | 57,505 | ||||||
|
Indorama Ventures PCL, NVDR |
34,000 | 47,105 | ||||||
|
Intouch Holdings PCL, NVDR |
22,500 | 52,320 | ||||||
|
Land & Houses PCL, NVDR |
176,300 | 51,921 | ||||||
|
Minor International PCL, NVDR(b) |
63,000 | 59,664 | ||||||
|
Muangthai Capital PCL, NVDR |
14,800 | 23,441 | ||||||
|
Osotspa PCL, NVDR |
24,200 | 26,196 | ||||||
|
PTT Exploration & Production PCL, NVDR |
28,800 | 121,255 | ||||||
|
PTT Global Chemical PCL, NVDR |
45,500 | 74,150 | ||||||
|
Siam Cement PCL (The), NVDR |
15,800 | 190,147 | ||||||
|
Siam Commercial Bank PCL (The), NVDR |
18,300 | 70,716 | ||||||
|
Sri Trang Gloves Thailand PCL, NVDR |
21,000 | 16,549 | ||||||
|
Thai Oil PCL, NVDR |
22,500 | 37,404 | ||||||
|
Thai Union Group PCL, NVDR |
64,300 | 40,144 | ||||||
|
True Corp. PCL, NVDR |
250,900 | 38,568 | ||||||
|
|
|
|||||||
| 2,022,788 | ||||||||
| Turkey — 0.2% | ||||||||
|
KOC Holding AS |
16,159 | 36,941 | ||||||
|
Turkcell Iletisim Hizmetleri AS |
24,976 | 37,030 | ||||||
|
Turkiye Garanti Bankasi AS |
43,128 | 34,527 | ||||||
|
Turkiye Is Bankasi AS, Class C |
31,890 | 18,465 | ||||||
|
Turkiye Sise ve Cam Fabrikalari AS |
27,573 | 24,664 | ||||||
|
|
|
|||||||
| 151,627 | ||||||||
| United Arab Emirates — 2.4% | ||||||||
|
Abu Dhabi Commercial Bank PJSC |
57,776 | 169,453 | ||||||
|
Abu Dhabi Islamic Bank PJSC |
30,515 | 73,618 | ||||||
|
Aldar Properties PJSC |
80,168 | 91,621 | ||||||
|
Emirates NBD Bank PJSC |
52,551 | 205,003 | ||||||
|
Emirates Telecommunications Group Co. PJSC |
71,323 | 681,165 | ||||||
|
First Abu Dhabi Bank PJSC |
89,565 | 504,269 | ||||||
|
|
|
|||||||
| 1,725,129 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 98.3% |
70,214,902 | |||||||
|
|
|
|||||||
| Security | Shares | Value | ||||||
|
Preferred Stocks |
||||||||
| Brazil — 0.8% | ||||||||
|
Banco Bradesco SA, Preference Shares, NVS |
100,239 | $ | 392,668 | |||||
|
Cia. Energetica de Minas Gerais, Preference Shares, NVS |
22,751 | 55,905 | ||||||
|
Gerdau SA, Preference Shares, NVS |
23,800 | 118,044 | ||||||
|
|
|
|||||||
| 566,617 | ||||||||
| Chile — 0.2% | ||||||||
|
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares |
2,761 | 183,363 | ||||||
|
|
|
|||||||
| Colombia — 0.1% | ||||||||
|
Bancolombia SA, Preference Shares, NVS |
9,480 | 83,796 | ||||||
|
|
|
|||||||
| South Korea — 0.1% | ||||||||
|
LG Chem Ltd., Preference Shares, NVS |
143 | 32,411 | ||||||
|
LG Household & Health Care Ltd., Preference Shares, NVS |
41 | 17,970 | ||||||
|
|
|
|||||||
| 50,381 | ||||||||
|
|
|
|||||||
|
Total
Preferred Stocks — 1.2% |
884,157 | |||||||
|
|
|
|||||||
|
Rights |
||||||||
|
Brazil — 0.0% |
||||||||
|
Americanas SA (Expires 03/03/22)(b) |
288 | 379 | ||||||
|
|
|
|||||||
|
Total
Rights — 0.0% |
379 | |||||||
|
|
|
|||||||
|
Short-Term Investments |
||||||||
|
Money Market Funds — 0.9% |
||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(e)(f)(g) |
30,119 | 30,125 | ||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%(e)(f) |
620,000 | 620,000 | ||||||
|
|
|
|||||||
| 650,125 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 0.9% |
650,125 | |||||||
|
|
|
|||||||
|
Total
Investments in Securities — 100.4% |
71,749,563 | |||||||
|
Other Assets, Less Liabilities — (0.4)% |
(314,281 | ) | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 71,435,282 | ||||||
|
|
|
|||||||
| (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) |
Non-income producing security. |
| (c) |
All or a portion of this security is on loan. |
| (d) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (e) |
Affiliate of the Fund. |
| (f) |
Annualized 7-day yield as of period end. |
| (g) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
|
S C H E D U L E O F I N V E S T M E N T S |
41 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI EM Leaders ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended February 28, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||
| Affiliated Issuer |
Value at 08/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 02/28/22 |
Shares Held at 02/28/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 1,399,372 | $ | — | $ | (1,367,263 | )(a) | $ | (1,984 | ) | $ | — | $ | 30,125 | 30,119 | $ | 13,373 | (b) | $ | — | ||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
2,330,000 | — | (1,710,000 | )(a) | — | — | 620,000 | 620,000 | 125 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | (1,984 | ) | $ | — | $ | 650,125 | $ | 13,498 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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 Outstanding as of Period End
Futures Contracts
|
|
||||||||||||||||
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
|
Long Contracts |
||||||||||||||||
|
MSCI Emerging Markets Index |
4 | 03/18/22 | $ | 235 | $ | (9,061 | ) | |||||||||
|
|
|
|||||||||||||||
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
|
||||
|
Equity Contracts |
||||
|
|
||||
|
Liabilities — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized depreciation on futures contracts(a) |
$ | 9,061 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended February 28, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | (94,192 | ) | |
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | (28,921 | ) | |
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$631,143 | |||
|
|
||||
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.
| 42 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI EM Leaders 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 |
||||||||||||||||
|
Common Stocks |
$ | 6,855,625 | $ | 62,935,281 | $ | 423,996 | $ | 70,214,902 | ||||||||
|
Preferred Stocks |
83,796 | 800,361 | — | 884,157 | ||||||||||||
|
Rights |
— | 379 | — | 379 | ||||||||||||
|
Money Market Funds |
650,125 | — | — | 650,125 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 7,589,546 | $ | 63,736,021 | $ | 423,996 | $ | 71,749,563 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Liabilities |
||||||||||||||||
|
Futures Contracts |
$ | (9,061 | ) | $ | — | $ | — | $ | (9,061 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
|
S C H E D U L E O F I N V E S T M E N T S |
43 |
|
Schedule of Investments (unaudited) February 28, 2022 |
iShares® ESG MSCI USA Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
|
Aerospace & Defense — 0.1% |
||||||||
|
Howmet Aerospace Inc. |
73,952 | $ | 2,656,356 | |||||
|
|
|
|||||||
| Air Freight & Logistics — 0.9% | ||||||||
|
CH Robinson Worldwide Inc. |
24,788 | 2,396,504 | ||||||
|
Expeditors International of Washington Inc. |
32,304 | 3,338,941 | ||||||
|
United Parcel Service Inc., Class B |
139,045 | 29,257,849 | ||||||
|
|
|
|||||||
| 34,993,294 | ||||||||
| Airlines — 0.0% | ||||||||
|
Delta Air Lines Inc.(a) |
30,231 | 1,206,822 | ||||||
|
|
|
|||||||
| Auto Components — 0.2% | ||||||||
|
Aptiv PLC(a) |
51,585 | 6,677,162 | ||||||
|
BorgWarner Inc. |
45,364 | 1,860,378 | ||||||
|
|
|
|||||||
| 8,537,540 | ||||||||
| Automobiles — 3.8% | ||||||||
|
Tesla Inc.(a) |
162,780 | 141,688,595 | ||||||
|
|
|
|||||||
| Banks — 2.2% | ||||||||
|
Citizens Financial Group Inc. |
81,273 | 4,260,331 | ||||||
|
First Republic Bank/CA |
33,703 | 5,839,382 | ||||||
|
Huntington Bancshares Inc./OH |
275,830 | 4,280,882 | ||||||
|
KeyCorp. |
177,546 | 4,451,078 | ||||||
|
M&T Bank Corp. |
24,539 | 4,471,742 | ||||||
|
PNC Financial Services Group Inc. (The) |
80,595 | 16,058,554 | ||||||
|
Regions Financial Corp. |
181,775 | 4,397,137 | ||||||
|
SVB Financial Group(a) |
11,169 | 6,768,414 | ||||||
|
Truist Financial Corp. |
254,555 | 15,838,412 | ||||||
|
U.S. Bancorp. |
268,621 | 15,187,831 | ||||||
|
|
|
|||||||
| 81,553,763 | ||||||||
| Beverages — 2.6% | ||||||||
|
Coca-Cola Co. (The) |
782,499 | 48,702,738 | ||||||
|
Keurig Dr Pepper Inc. |
135,198 | 5,228,106 | ||||||
|
PepsiCo Inc. |
263,662 | 43,172,016 | ||||||
|
|
|
|||||||
| 97,102,860 | ||||||||
| Biotechnology — 1.7% | ||||||||
|
Amgen Inc. |
107,411 | 24,326,443 | ||||||
|
Biogen Inc.(a) |
28,011 | 5,910,601 | ||||||
|
BioMarin Pharmaceutical Inc.(a) |
35,010 | 2,734,981 | ||||||
|
Gilead Sciences Inc. |
239,202 | 14,447,801 | ||||||
|
Horizon Therapeutics PLC(a) |
41,091 | 3,746,267 | ||||||
|
Vertex Pharmaceuticals Inc.(a) |
48,484 | 11,152,290 | ||||||
|
|
|
|||||||
| 62,318,383 | ||||||||
| Building Products — 0.7% | ||||||||
|
Allegion PLC |
17,261 | 1,976,730 | ||||||
|
Fortune Brands Home & Security Inc. |
26,268 | 2,282,689 | ||||||
|
Johnson Controls International PLC |
134,311 | 8,724,843 | ||||||
|
Lennox International Inc. |
6,281 | 1,676,587 | ||||||
|
Masco Corp. |
46,546 | 2,608,438 | ||||||
|
Owens Corning |
19,162 | 1,785,707 | ||||||
|
Trane Technologies PLC |
45,297 | 6,972,567 | ||||||
|
|
|
|||||||
| 26,027,561 | ||||||||
| Capital Markets — 5.0% | ||||||||
|
Ameriprise Financial Inc. |
21,337 | 6,396,619 | ||||||
|
Bank of New York Mellon Corp. (The) |
149,604 | 7,951,453 | ||||||
|
BlackRock Inc.(b) |
28,969 | 21,549,749 | ||||||
|
Carlyle Group Inc. (The) |
30,594 | 1,433,941 | ||||||
|
Cboe Global Markets Inc. |
20,418 | 2,394,827 | ||||||
|
Charles Schwab Corp. (The) |
276,323 | 23,338,241 | ||||||
| Security | Shares | Value | ||||||
|
Capital Markets (continued) |
||||||||
|
CME Group Inc. |
68,534 | $ | 16,210,347 | |||||
|
FactSet Research Systems Inc. |
7,189 | 2,919,381 | ||||||
|
Franklin Resources Inc. |
57,463 | 1,708,375 | ||||||
|
Intercontinental Exchange Inc. |
107,437 | 13,764,828 | ||||||
|
Invesco Ltd. |
65,558 | 1,392,452 | ||||||
|
MarketAxess Holdings Inc. |
7,251 | 2,765,749 | ||||||
|
Moody’s Corp. |
31,930 | 10,282,418 | ||||||
|
Morgan Stanley |
256,636 | 23,287,151 | ||||||
|
Nasdaq Inc. |
22,322 | 3,820,410 | ||||||
|
Northern Trust Corp. |
37,517 | 4,273,186 | ||||||
|
Raymond James Financial Inc. |
35,318 | 3,872,619 | ||||||
|
S&P Global Inc. |
67,534 | 25,372,463 | ||||||
|
State Street Corp. |
69,723 | 5,949,464 | ||||||
|
T Rowe Price Group Inc. |
42,862 | 6,196,131 | ||||||
|
|
|
|||||||
| 184,879,804 | ||||||||
| Chemicals — 2.1% | ||||||||
|
DuPont de Nemours Inc. |
98,799 | 7,644,079 | ||||||
|
Ecolab Inc. |
49,182 | 8,668,819 | ||||||
|
International Flavors & Fragrances Inc. |
48,540 | 6,455,820 | ||||||
|
Linde PLC(a) |
97,741 | 28,661,571 | ||||||
|
LyondellBasell Industries NV, Class A |
50,584 | 4,918,282 | ||||||
|
Mosaic Co. (The) |
70,635 | 3,703,393 | ||||||
|
PPG Industries Inc. |
45,271 | 6,041,415 | ||||||
|
Sherwin-Williams Co. (The) |
47,499 | 12,498,412 | ||||||
|
|
|
|||||||
| 78,591,791 | ||||||||
| Commercial Services & Supplies — 0.4% | ||||||||
|
Copart Inc.(a) |
40,707 | 5,002,076 | ||||||
|
Waste Management Inc. |
79,751 | 11,516,045 | ||||||
|
|
|
|||||||
| 16,518,121 | ||||||||
| Communications Equipment — 1.4% | ||||||||
|
Cisco Systems Inc. |
804,268 | 44,854,026 | ||||||
|
Motorola Solutions Inc. |
32,208 | 7,099,610 | ||||||
|
|
|
|||||||
| 51,953,636 | ||||||||
| Consumer Finance — 0.9% | ||||||||
|
Ally Financial Inc. |
69,497 | 3,467,900 | ||||||
|
American Express Co. |
125,547 | 24,423,914 | ||||||
|
Discover Financial Services |
55,887 | 6,898,691 | ||||||
|
|
|
|||||||
| 34,790,505 | ||||||||
| Containers & Packaging — 0.3% | ||||||||
|
Amcor PLC |
291,321 | 3,388,063 | ||||||
|
Ball Corp. |
62,141 | 5,576,533 | ||||||
|
International Paper Co. |
70,811 | 3,082,403 | ||||||
|
|
|
|||||||
| 12,046,999 | ||||||||
| Distributors — 0.2% | ||||||||
|
Genuine Parts Co. |
27,297 | 3,334,602 | ||||||
|
LKQ Corp. |
52,806 | 2,479,242 | ||||||
|
Pool Corp. |
7,668 | 3,516,391 | ||||||
|
|
|
|||||||
| 9,330,235 | ||||||||
| Diversified Financial Services — 0.1% | ||||||||
|
Equitable Holdings Inc. |
69,468 | 2,268,825 | ||||||
|
|
|
|||||||
| Diversified Telecommunication Services — 1.1% | ||||||||
|
Verizon Communications Inc. |
789,500 | 42,372,465 | ||||||
|
|
|
|||||||
| Electric Utilities — 0.3% | ||||||||
|
Edison International |
72,446 | 4,594,525 | ||||||
|
Eversource Energy |
65,561 | 5,362,890 | ||||||
|
|
|
|||||||
| 9,957,415 | ||||||||
| 44 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI USA Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Electrical Equipment — 0.6% |
||||||||
|
Eaton Corp. PLC |
76,010 | $ | 11,727,583 | |||||
|
Generac Holdings Inc.(a) |
12,031 | 3,795,420 | ||||||
|
Rockwell Automation Inc. |
22,047 | 5,877,289 | ||||||
|
|
|
|||||||
| 21,400,292 | ||||||||
| Electronic Equipment, Instruments & Components — 0.5% | ||||||||
|
Cognex Corp. |
33,351 | 2,253,194 | ||||||
|
Keysight Technologies Inc.(a) |
35,125 | 5,527,621 | ||||||
|
Teledyne Technologies Inc.(a) |
8,897 | 3,820,194 | ||||||
|
Trimble Inc.(a) |
47,866 | 3,338,653 | ||||||
|
Zebra Technologies Corp., Class A(a) |
10,191 | 4,212,348 | ||||||
|
|
|
|||||||
| 19,152,010 | ||||||||
| Energy Equipment & Services — 0.4% | ||||||||
|
Baker Hughes Co. |
157,368 | 4,623,472 | ||||||
|
Schlumberger NV |
267,472 | 10,495,601 | ||||||
|
|
|
|||||||
| 15,119,073 | ||||||||
| Entertainment — 2.0% | ||||||||
|
Activision Blizzard Inc. |
148,529 | 12,105,114 | ||||||
|
Electronic Arts Inc. |
53,930 | 7,015,754 | ||||||
|
Take-Two Interactive Software Inc.(a) |
21,987 | 3,561,894 | ||||||
|
Walt Disney Co. (The)(a) |
346,614 | 51,458,314 | ||||||
|
|
|
|||||||
| 74,141,076 | ||||||||
| Equity Real Estate Investment Trusts (REITs) — 2.5% | ||||||||
|
American Tower Corp. |
86,844 | 19,702,298 | ||||||
|
Boston Properties Inc. |
28,298 | 3,461,128 | ||||||
|
Crown Castle International Corp. |
82,418 | 13,730,015 | ||||||
|
Equinix Inc. |
17,170 | 12,186,064 | ||||||
|
Equity Residential |
67,937 | 5,795,026 | ||||||
|
Healthpeak Properties Inc. |
102,797 | 3,192,875 | ||||||
|
Host Hotels & Resorts Inc.(a) |
136,162 | 2,487,680 | ||||||
|
Prologis Inc. |
140,984 | 20,562,516 | ||||||
|
Welltower Inc. |
83,004 | 6,913,403 | ||||||
|
Weyerhaeuser Co. |
142,838 | 5,553,542 | ||||||
|
|
|
|||||||
| 93,584,547 | ||||||||
| Food & Staples Retailing — 0.2% | ||||||||
|
Kroger Co. (The) |
134,716 | 6,304,709 | ||||||
|
|
|
|||||||
| Food Products — 0.8% | ||||||||
|
Bunge Ltd. |
26,555 | 2,776,325 | ||||||
|
Campbell Soup Co. |
37,243 | 1,674,818 | ||||||
|
Conagra Brands Inc. |
91,473 | 3,198,811 | ||||||
|
General Mills Inc. |
115,707 | 7,802,123 | ||||||
|
Hormel Foods Corp. |
56,904 | 2,710,907 | ||||||
|
JM Smucker Co. (The) |
20,759 | 2,797,275 | ||||||
|
Kellogg Co. |
48,763 | 3,117,906 | ||||||
|
McCormick & Co. Inc./MD, NVS |
47,550 | 4,525,333 | ||||||
|
|
|
|||||||
| 28,603,498 | ||||||||
| Gas Utilities — 0.1% | ||||||||
|
Atmos Energy Corp. |
25,253 | 2,773,032 | ||||||
|
UGI Corp. |
39,589 | 1,521,801 | ||||||
|
|
|
|||||||
| 4,294,833 | ||||||||
| Health Care Equipment & Supplies — 2.0% | ||||||||
|
ABIOMED Inc.(a) |
8,636 | 2,683,551 | ||||||
|
Align Technology Inc.(a)(c) |
14,285 | 7,306,206 | ||||||
|
Baxter International Inc. |
95,479 | 8,112,851 | ||||||
|
DENTSPLY SIRONA Inc. |
41,407 | 2,241,775 | ||||||
|
Dexcom Inc.(a)(c) |
18,482 | 7,649,885 | ||||||
|
Edwards Lifesciences Corp.(a) |
119,056 | 13,378,323 | ||||||
|
Hologic Inc.(a) |
47,944 | 3,412,174 | ||||||
| Security | Shares | Value | ||||||
|
Health Care Equipment & Supplies (continued) |
| |||||||
|
IDEXX Laboratories Inc.(a) |
16,169 | $ | 8,607,567 | |||||
|
Insulet Corp.(a) |
13,107 | 3,469,292 | ||||||
|
Novocure Ltd.(a)(c) |
17,818 | 1,458,581 | ||||||
|
ResMed Inc. |
27,788 | 6,856,689 | ||||||
|
STERIS PLC |
19,074 | 4,577,760 | ||||||
|
Teleflex Inc. |
8,933 | 3,004,257 | ||||||
|
|
|
|||||||
| 72,758,911 | ||||||||
| Health Care Providers & Services — 1.7% | ||||||||
|
AmerisourceBergen Corp. |
29,767 | 4,242,690 | ||||||
|
Cardinal Health Inc. |
53,735 | 2,902,227 | ||||||
|
Centene Corp.(a) |
111,270 | 9,193,127 | ||||||
|
Cigna Corp. |
63,201 | 15,027,934 | ||||||
|
DaVita Inc.(a) |
12,631 | 1,424,398 | ||||||
|
HCA Healthcare Inc. |
47,448 | 11,876,709 | ||||||
|
Humana Inc. |
24,511 | 10,645,618 | ||||||
|
Laboratory Corp. of America Holdings(a) |
18,249 | 4,950,224 | ||||||
|
Quest Diagnostics Inc. |
23,393 | 3,070,799 | ||||||
|
|
|
|||||||
| 63,333,726 | ||||||||
| Health Care Technology — 0.2% | ||||||||
|
Cerner Corp. |
56,106 | 5,231,885 | ||||||
|
Teladoc Health Inc.(a)(c) |
27,228 | 2,066,877 | ||||||
|
|
|
|||||||
| 7,298,762 | ||||||||
| Hotels, Restaurants & Leisure — 2.4% | ||||||||
|
Booking Holdings Inc.(a) |
7,831 | 17,010,890 | ||||||
|
Darden Restaurants Inc. |
24,633 | 3,577,204 | ||||||
|
Domino’s Pizza Inc. |
6,939 | 2,999,105 | ||||||
|
Hilton Worldwide Holdings Inc.(a) |
53,150 | 7,911,909 | ||||||
|
McDonald’s Corp. |
142,494 | 34,878,256 | ||||||
|
Starbucks Corp. |
223,908 | 20,552,515 | ||||||
|
Vail Resorts Inc. |
7,672 | 1,998,940 | ||||||
|
|
|
|||||||
| 88,928,819 | ||||||||
| Household Durables — 0.3% | ||||||||
|
Garmin Ltd. |
29,340 | 3,240,309 | ||||||
|
Mohawk Industries Inc.(a) |
10,979 | 1,545,624 | ||||||
|
Newell Brands Inc. |
72,488 | 1,721,590 | ||||||
|
NVR Inc.(a) |
631 | 3,128,776 | ||||||
|
|
|
|||||||
| 9,636,299 | ||||||||
| Household Products — 2.6% | ||||||||
|
Clorox Co. (The) |
23,505 | 3,426,794 | ||||||
|
Colgate-Palmolive Co. |
152,689 | 11,749,419 | ||||||
|
Kimberly-Clark Corp. |
64,210 | 8,356,931 | ||||||
|
Procter & Gamble Co. (The) |
461,467 | 71,938,091 | ||||||
|
|
|
|||||||
| 95,471,235 | ||||||||
| Industrial Conglomerates — 0.7% | ||||||||
|
3M Co. |
109,653 | 16,299,919 | ||||||
|
Roper Technologies Inc. |
20,115 | 9,015,945 | ||||||
|
|
|
|||||||
| 25,315,864 | ||||||||
| Insurance — 3.4% | ||||||||
|
Aflac Inc. |
119,841 | 7,321,087 | ||||||
|
Allstate Corp. (The) |
54,667 | 6,689,054 | ||||||
|
American International Group Inc. |
158,332 | 9,696,252 | ||||||
|
Aon PLC, Class A |
42,016 | 12,274,554 | ||||||
|
Arch Capital Group Ltd.(a) |
73,633 | 3,468,851 | ||||||
|
Arthur J Gallagher & Co. |
39,526 | 6,252,618 | ||||||
|
Assurant Inc. |
10,866 | 1,844,069 | ||||||
|
Chubb Ltd. |
82,139 | 16,726,786 | ||||||
|
Erie Indemnity Co., Class A, NVS |
4,877 | 853,963 | ||||||
|
Hartford Financial Services Group Inc. (The) |
64,903 | 4,509,460 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
45 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI USA Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Insurance (continued) |
||||||||
|
Lincoln National Corp. |
32,737 | $ | 2,207,128 | |||||
|
Loews Corp. |
41,119 | 2,522,239 | ||||||
|
Marsh & McLennan Companies Inc. |
96,244 | 14,957,280 | ||||||
|
Principal Financial Group Inc. |
50,547 | 3,570,640 | ||||||
|
Progressive Corp. (The) |
111,557 | 11,817,233 | ||||||
|
Prudential Financial Inc. |
72,082 | 8,048,676 | ||||||
|
Travelers Companies Inc. (The) |
46,912 | 8,060,889 | ||||||
|
Willis Towers Watson PLC |
23,762 | 5,282,293 | ||||||
|
|
|
|||||||
| 126,103,072 | ||||||||
| Interactive Media & Services — 8.1% | ||||||||
|
Alphabet Inc., Class A(a) |
57,362 | 154,942,793 | ||||||
|
Alphabet Inc., Class C, NVS(a) |
54,531 | 147,114,822 | ||||||
|
|
|
|||||||
| 302,057,615 | ||||||||
| Internet & Direct Marketing Retail — 0.4% | ||||||||
|
eBay Inc. |
119,375 | 6,516,681 | ||||||
|
MercadoLibre Inc.(a)(c) |
8,660 | 9,756,789 | ||||||
|
|
|
|||||||
| 16,273,470 | ||||||||
| IT Services — 5.7% | ||||||||
|
Accenture PLC, Class A |
120,467 | 38,069,982 | ||||||
|
Automatic Data Processing Inc. |
80,355 | 16,427,776 | ||||||
|
International Business Machines Corp. |
171,014 | 20,950,925 | ||||||
|
Mastercard Inc., Class A |
167,332 | 60,376,732 | ||||||
|
Okta Inc.(a) |
28,149 | 5,146,763 | ||||||
|
Visa Inc., Class A |
318,406 | 68,813,905 | ||||||
|
Western Union Co. (The) |
77,868 | 1,415,640 | ||||||
|
|
|
|||||||
| 211,201,723 | ||||||||
| Leisure Products — 0.1% | ||||||||
|
Hasbro Inc. |
24,990 | 2,425,279 | ||||||
|
|
|
|||||||
| Life Sciences Tools & Services — 2.0% | ||||||||
|
Agilent Technologies Inc. |
57,713 | 7,523,467 | ||||||
|
Bio-Techne Corp. |
7,493 | 3,142,639 | ||||||
|
Illumina Inc.(a) |
28,315 | 9,247,679 | ||||||
|
Mettler-Toledo International Inc.(a) |
4,383 | 6,174,507 | ||||||
|
Thermo Fisher Scientific Inc. |
75,142 | 40,877,248 | ||||||
|
Waters Corp.(a) |
11,639 | 3,686,421 | ||||||
|
West Pharmaceutical Services Inc. |
14,126 | 5,467,892 | ||||||
|
|
|
|||||||
| 76,119,853 | ||||||||
| Machinery — 2.4% | ||||||||
|
Caterpillar Inc. |
103,154 | 19,349,627 | ||||||
|
Cummins Inc. |
27,275 | 5,567,373 | ||||||
|
Deere & Co. |
56,170 | 20,222,324 | ||||||
|
Dover Corp. |
27,457 | 4,306,905 | ||||||
|
Fortive Corp. |
64,683 | 4,188,224 | ||||||
|
IDEX Corp. |
14,410 | 2,765,279 | ||||||
|
Illinois Tool Works Inc. |
59,855 | 12,949,031 | ||||||
|
PACCAR Inc. |
66,204 | 6,078,189 | ||||||
|
Pentair PLC |
31,462 | 1,821,965 | ||||||
|
Snap-on Inc. |
10,313 | 2,167,586 | ||||||
|
Stanley Black & Decker Inc. |
31,089 | 5,058,180 | ||||||
|
Xylem Inc./NY |
34,387 | 3,058,724 | ||||||
|
|
|
|||||||
| 87,533,407 | ||||||||
| Media — 0.3% | ||||||||
|
Cable One Inc. |
1,027 | 1,471,537 | ||||||
|
Discovery Inc., Class A(a)(c) |
31,969 | 896,730 | ||||||
|
Discovery Inc., Class C, NVS(a) |
59,323 | 1,659,264 | ||||||
|
Interpublic Group of Companies Inc. (The) |
75,086 | 2,763,165 | ||||||
|
Omnicom Group Inc. |
40,710 | 3,415,162 | ||||||
| Security | Shares | Value | ||||||
|
Media (continued) |
||||||||
|
Sirius XM Holdings Inc.(c) |
196,200 | $ | 1,208,592 | |||||
|
|
|
|||||||
| 11,414,450 | ||||||||
| Metals & Mining — 0.3% | ||||||||
|
Newmont Corp. |
152,065 | 10,066,703 | ||||||
|
Steel Dynamics Inc. |
37,843 | 2,670,959 | ||||||
|
|
|
|||||||
| 12,737,662 | ||||||||
| Mortgage Real Estate Investment — 0.1% | ||||||||
|
Annaly Capital Management Inc. |
276,528 | 1,924,635 | ||||||
|
|
|
|||||||
| Multi-Utilities — 0.4% | ||||||||
|
Consolidated Edison Inc. |
67,457 | 5,785,787 | ||||||
|
Sempra Energy |
60,895 | 8,782,277 | ||||||
|
|
|
|||||||
| 14,568,064 | ||||||||
| Multiline Retail — 0.5% | ||||||||
|
Target Corp. |
91,366 | 18,252,186 | ||||||
|
|
|
|||||||
| Oil, Gas & Consumable Fuels — 1.1% | ||||||||
|
Cheniere Energy Inc. |
45,940 | 6,105,426 | ||||||
|
Marathon Petroleum Corp. |
117,388 | 9,141,004 | ||||||
|
ONEOK Inc. |
85,037 | 5,552,916 | ||||||
|
Phillips 66 |
83,556 | 7,038,757 | ||||||
|
Valero Energy Corp. |
77,962 | 6,510,607 | ||||||
|
Williams Companies Inc. (The) |
231,698 | 7,247,513 | ||||||
|
|
|
|||||||
| 41,596,223 | ||||||||
| Personal Products — 0.4% | ||||||||
|
Estee Lauder Companies Inc. (The), Class A |
44,286 | 13,123,270 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 5.6% | ||||||||
|
Bristol-Myers Squibb Co. |
423,271 | 29,066,020 | ||||||
|
Catalent Inc.(a) |
32,644 | 3,330,994 | ||||||
|
Eli Lilly & Co. |
155,053 | 38,755,497 | ||||||
|
Jazz Pharmaceuticals PLC(a) |
11,722 | 1,610,837 | ||||||
|
Johnson & Johnson |
502,018 | 82,617,102 | ||||||
|
Merck & Co. Inc. |
481,680 | 36,887,055 | ||||||
|
Zoetis Inc. |
90,222 | 17,471,490 | ||||||
|
|
|
|||||||
| 209,738,995 | ||||||||
| Professional Services — 0.1% | ||||||||
|
Robert Half International Inc. |
21,436 | 2,578,536 | ||||||
|
|
|
|||||||
| Real Estate Management & Development — 0.2% | ||||||||
|
CBRE Group Inc., Class A(a) |
63,818 | 6,180,773 | ||||||
|
|
|
|||||||
| Road & Rail — 1.5% | ||||||||
|
AMERCO |
1,870 | 1,080,131 | ||||||
|
CSX Corp. |
422,954 | 14,342,370 | ||||||
|
Norfolk Southern Corp. |
46,404 | 11,903,554 | ||||||
|
Union Pacific Corp. |
122,592 | 30,151,502 | ||||||
|
|
|
|||||||
| 57,477,557 | ||||||||
| Semiconductors & Semiconductor Equipment — 6.0% | ||||||||
|
Applied Materials Inc. |
172,182 | 23,106,824 | ||||||
|
Intel Corp. |
775,548 | 36,993,640 | ||||||
|
Lam Research Corp. |
26,849 | 15,071,686 | ||||||
|
NVIDIA Corp. |
476,732 | 116,251,098 | ||||||
|
Texas Instruments Inc. |
176,110 | 29,936,939 | ||||||
|
|
|
|||||||
| 221,360,187 | ||||||||
| Software — 14.8% | ||||||||
|
Adobe Inc.(a) |
90,732 | 42,433,542 | ||||||
|
ANSYS Inc.(a) |
16,638 | 5,393,873 | ||||||
|
Autodesk Inc.(a) |
41,924 | 9,232,923 | ||||||
|
Cadence Design Systems Inc.(a) |
52,789 | 7,993,838 | ||||||
| 46 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI USA Leaders ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Software (continued) |
||||||||
|
Citrix Systems Inc. |
23,784 | $ | 2,437,860 | |||||
|
Intuit Inc. |
51,298 | 24,334,232 | ||||||
|
Microsoft Corp. |
1,360,133 | 406,394,139 | ||||||
|
salesforce.com Inc.(a) |
186,688 | 39,303,425 | ||||||
|
VMware Inc., Class A |
40,013 | 4,694,325 | ||||||
|
Workday Inc., Class A(a) |
36,804 | 8,429,956 | ||||||
|
|
|
|||||||
| 550,648,113 | ||||||||
| Specialty Retail — 3.3% | ||||||||
|
Advance Auto Parts Inc. |
11,891 | 2,431,472 | ||||||
|
Best Buy Co. Inc. |
42,213 | 4,079,464 | ||||||
|
Burlington Stores Inc.(a)(c) |
12,636 | 2,854,346 | ||||||
|
CarMax Inc.(a)(c) |
30,825 | 3,370,097 | ||||||
|
Home Depot Inc. (The) |
199,129 | 62,890,912 | ||||||
|
Lowe’s Companies Inc. |
128,479 | 28,401,568 | ||||||
|
TJX Companies Inc. (The) |
229,316 | 15,157,788 | ||||||
|
Tractor Supply Co. |
21,793 | 4,441,195 | ||||||
|
|
|
|||||||
| 123,626,842 | ||||||||
| Technology Hardware, Storage & Peripherals — 0.3% | ||||||||
|
Hewlett Packard Enterprise Co. |
249,436 | 3,971,021 | ||||||
|
HP Inc. |
219,777 | 7,551,538 | ||||||
|
|
|
|||||||
| 11,522,559 | ||||||||
| Textiles, Apparel & Luxury Goods — 1.2% | ||||||||
|
Lululemon Athletica Inc.(a) |
22,574 | 7,222,326 | ||||||
|
Nike Inc., Class B |
243,669 | 33,273,002 | ||||||
|
VF Corp. |
63,666 | 3,693,901 | ||||||
|
|
|
|||||||
| 44,189,229 | ||||||||
| Trading Companies & Distributors — 0.4% | ||||||||
|
Fastenal Co. |
109,680 | 5,644,133 | ||||||
|
United Rentals Inc.(a) |
13,805 | 4,439,964 | ||||||
|
WW Grainger Inc. |
8,351 | 3,983,928 | ||||||
|
|
|
|||||||
| 14,068,025 | ||||||||
| Security | Shares | Value | ||||||
|
Water Utilities — 0.2% |
||||||||
|
American Water Works Co. Inc. |
34,618 | $ | 5,230,434 | |||||
|
Essential Utilities Inc. |
45,786 | 2,156,978 | ||||||
|
|
|
|||||||
| 7,387,412 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 99.8% |
3,708,247,761 | |||||||
|
|
|
|||||||
|
Short-Term Investments |
||||||||
|
Money Market Funds — 0.7% |
||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(b)(d)(e) |
20,129,436 | 20,133,461 | ||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%(b)(d) |
6,306,000 | 6,306,000 | ||||||
|
|
|
|||||||
| 26,439,461 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 0.7% |
26,439,461 | |||||||
|
|
|
|||||||
|
Total
Investments in Securities — 100.5% |
3,734,687,222 | |||||||
|
Other Assets, Less Liabilities — (0.5)% |
(18,143,384 | ) | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 3,716,543,838 | ||||||
|
|
|
|||||||
| (a) |
Non-income producing security. |
| (b) |
Affiliate of the Fund. |
| (c) |
All or a portion of this security is on loan. |
| (d) |
Annualized 7-day yield as of period end. |
| (e) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended February 28, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||||||
| Affiliated Issuer | Value at 08/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 02/28/22 |
Shares Held at 02/28/22 |
Income |
Capital Gain Distributions from Underlying Funds |
| ||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 10,691,739 | $ | 9,444,664 | (a) | $ | — | $ | (2,790 | ) | $ | (152 | ) | $ | 20,133,461 | 20,129,436 | $ | 14,005 | (b) | $ | — | |||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
6,176,000 | 130,000 | (a) | — | — | — | 6,306,000 | 6,306,000 | 284 | — | ||||||||||||||||||||||||||||||
|
BlackRock Inc. |
28,721,294 | 2,703,579 | (4,103,634 | ) | 1,929,928 | (7,701,418 | ) | 21,549,749 | 28,969 | 254,185 | — | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| $ | 1,927,138 | $ | (7,701,570 | ) | $ | 47,989,210 | $ | 268,474 | $ | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| (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. |
|
S C H E D U L E O F I N V E S T M E N T S |
47 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® ESG MSCI USA Leaders ETF |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
|
|
||||||||||||||||
| Description |
Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
|
Long Contracts |
||||||||||||||||
|
S&P 500 E-Mini Index |
35 | 03/18/22 | $ | 7,644 | $ | (208,479 | ) | |||||||||
|
|
|
|||||||||||||||
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Liabilities — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized depreciation on futures contracts(a) |
$ | 208,479 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended February 28, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | 284,190 | ||
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | (428,853 | ) | |
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$7,925,471 | |||
|
|
||||
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.
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 |
||||||||||||||||
|
Common Stocks |
$ | 3,708,247,761 | $ | — | $ | — | $ | 3,708,247,761 | ||||||||
|
Money Market Funds |
26,439,461 | — | — | 26,439,461 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 3,734,687,222 | $ | — | $ | — | $ | 3,734,687,222 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Liabilities |
||||||||||||||||
|
Futures Contracts |
$ | (208,479 | ) | $ | — | $ | — | $ | (208,479 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
| 48 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) February 28, 2022 |
iShares® MSCI Global Sustainable Development Goals ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
|
Australia — 1.0% |
||||||||
|
CSL Ltd. |
20,111 | $ | 3,823,584 | |||||
|
IDP Education Ltd. |
10,330 | 199,778 | ||||||
|
Vicinity Centres |
627,967 | 817,701 | ||||||
|
|
|
|||||||
| 4,841,063 | ||||||||
| Austria — 0.2% | ||||||||
|
Verbund AG |
6,291 | 758,799 | ||||||
|
|
|
|||||||
| Belgium — 4.8% | ||||||||
|
Elia Group SA/NV |
10,501 | 1,511,756 | ||||||
|
Etablissements Franz Colruyt NV |
58,093 | 2,323,538 | ||||||
|
Umicore SA |
482,543 | 19,740,676 | ||||||
|
|
|
|||||||
| 23,575,970 | ||||||||
| Canada — 5.6% | ||||||||
|
Ballard Power Systems Inc.(a) |
9,632 | 110,189 | ||||||
|
Northland Power Inc. |
66,576 | 2,116,775 | ||||||
|
Saputo Inc. |
209,706 | 5,138,831 | ||||||
|
West Fraser Timber Co. Ltd. |
199,679 | 19,931,666 | ||||||
|
|
|
|||||||
| 27,297,461 | ||||||||
| Chile — 1.6% | ||||||||
|
Empresas CMPC SA |
4,616,628 | 7,627,372 | ||||||
|
|
|
|||||||
| China — 13.0% | ||||||||
|
3SBio Inc.(a)(b) |
357,000 | 283,733 | ||||||
|
Anjoy Foods Group Co Ltd., Class A |
400 | 7,847 | ||||||
|
Beijing Easpring Material Technology Co. Ltd., Class A |
19,700 | 266,365 | ||||||
|
Beijing Enterprises Water Group Ltd. |
5,548,000 | 2,191,925 | ||||||
|
BYD Co. Ltd., Class A |
17,889 | 719,349 | ||||||
|
BYD Co. Ltd., Class H |
62,000 | 1,921,215 | ||||||
|
CECEP Solar Energy Co. Ltd., Class A |
68,400 | 108,608 | ||||||
|
China Conch Venture Holdings Ltd. |
411,500 | 1,980,236 | ||||||
|
China Education Group Holdings Ltd. |
247,000 | 211,611 | ||||||
|
China Everbright Environment Group Ltd. |
8,984,000 | 6,450,290 | ||||||
|
China Longyuan Power Group Corp. Ltd., Class H |
1,296,000 | 2,674,412 | ||||||
|
China Medical System Holdings Ltd. |
207,000 | 368,595 | ||||||
|
China Mengniu Dairy Co. Ltd. |
919,000 | 5,975,722 | ||||||
|
China Railway Signal & Communication Corp. Ltd., Class A |
341,336 | 262,634 | ||||||
|
China Three Gorges Renewables Group Co. Ltd. |
171,000 | 193,014 | ||||||
|
Chindata Group Holdings Ltd., ADR(a) |
13,894 | 76,278 | ||||||
|
Contemporary Amperex Technology Co. Ltd., Class A |
21,200 | 1,815,977 | ||||||
|
CSPC Pharmaceutical Group Ltd. |
781,520 | 926,385 | ||||||
|
Gotion High-tech Co. Ltd., Class A(a) |
19,800 | 135,867 | ||||||
|
Guangzhou
R&F Properties Co. Ltd., |
16,725,200 | 7,119,919 | ||||||
|
Hansoh Pharmaceutical Group Co. Ltd.(b) |
86,000 | 183,584 | ||||||
|
Henan Shuanghui Investment & Development Co. Ltd., Class A |
121,400 | 555,575 | ||||||
|
Kingsoft Cloud Holdings Ltd., ADR(a)(c) |
112,758 | 759,989 | ||||||
|
Li Auto Inc., ADR(a) |
103,636 | 3,155,716 | ||||||
|
LONGi Green Energy Technology Co. Ltd., Class A |
106,900 | 1,330,638 | ||||||
|
Ming Yang Smart Energy Group Ltd., Class A |
98,900 | 406,679 | ||||||
|
NIO Inc., ADR(a) |
260,358 | 5,946,577 | ||||||
|
Riyue Heavy Industry Co. Ltd., Class A |
5,500 | 24,053 | ||||||
|
Shimao Group Holdings Ltd.(c) |
11,999,000 | 7,200,575 | ||||||
|
Sungrow Power Supply Co. Ltd., Class A |
23,100 | 447,308 | ||||||
|
Tingyi Cayman Islands Holding Corp. |
944,000 | 2,087,416 | ||||||
|
Titan Wind Energy Suzhou Co. Ltd., Class A |
28,900 | 94,613 | ||||||
|
Venus MedTech Hangzhou Inc., Class H(a)(b) |
5,500 | 15,291 | ||||||
|
Vinda International Holdings Ltd. |
279,000 | 794,379 | ||||||
| Security | Shares | Value | ||||||
|
China (continued) |
||||||||
|
Wuxi Lead Intelligent Equipment Co. Ltd., Class A |
100 | $ | 1,078 | |||||
|
Xinjiang Goldwind Science & Technology Co. Ltd., Class A |
303,400 | 724,200 | ||||||
|
Xinjiang Goldwind Science & Technology Co. Ltd., Class H |
287,504 | 470,408 | ||||||
|
Xinyi Solar Holdings Ltd. |
1,076,000 | 1,954,410 | ||||||
|
XPeng Inc., ADR(a) |
46,391 | 1,687,241 | ||||||
|
Yadea Group Holdings Ltd.(b) |
1,114,000 | 1,652,657 | ||||||
|
|
|
|||||||
| 63,182,369 | ||||||||
| Denmark — 8.0% | ||||||||
|
Genmab A/S(a) |
1,144 | 384,494 | ||||||
|
Novo Nordisk A/S, Class B |
84,557 | 8,750,246 | ||||||
|
Orsted AS(b) |
31,701 | 4,102,556 | ||||||
|
Rockwool International A/S, Class B |
5,422 | 1,858,719 | ||||||
|
Vestas Wind Systems A/S |
739,603 | 23,849,753 | ||||||
|
|
|
|||||||
| 38,945,768 | ||||||||
| France — 1.4% | ||||||||
|
Covivio |
12,804 | 1,047,501 | ||||||
|
Gecina SA |
4,211 | 535,139 | ||||||
|
Ipsen SA |
4,183 | 486,732 | ||||||
|
Klepierre SA |
61,579 | 1,760,207 | ||||||
|
Unibail-Rodamco-Westfield(a) |
37,293 | 2,842,689 | ||||||
|
|
|
|||||||
| 6,672,268 | ||||||||
| Germany — 2.1% | ||||||||
|
LEG Immobilien SE |
14,386 | 1,849,899 | ||||||
|
Vonovia SE |
154,045 | 8,177,174 | ||||||
|
|
|
|||||||
| 10,027,073 | ||||||||
| Hong Kong — 4.7% | ||||||||
|
Henderson Land Development Co. Ltd. |
225,000 | 935,446 | ||||||
|
Link REIT |
156,700 | 1,266,261 | ||||||
|
MTR Corp. Ltd. |
413,500 | 2,143,378 | ||||||
|
Sun Hung Kai Properties Ltd. |
457,500 | 5,318,795 | ||||||
|
Swire Properties Ltd. |
251,800 | 654,810 | ||||||
|
WH Group Ltd.(b) |
17,968,000 | 12,548,413 | ||||||
|
|
|
|||||||
| 22,867,103 | ||||||||
| India — 0.5% | ||||||||
|
Adani Green Energy Ltd.(a) |
7,711 | 189,745 | ||||||
|
Colgate-Palmolive India Ltd. |
17,343 | 334,571 | ||||||
|
Godrej Consumer Products Ltd.(a) |
20,607 | 210,746 | ||||||
|
Hindustan Unilever Ltd. |
45,709 | 1,321,827 | ||||||
|
Marico Ltd. |
45,214 | 309,539 | ||||||
|
Nestle India Ltd. |
1,365 | 320,577 | ||||||
|
|
|
|||||||
| 2,687,005 | ||||||||
| Indonesia — 0.1% | ||||||||
|
Unilever Indonesia Tbk PT |
1,223,600 | 314,864 | ||||||
|
|
|
|||||||
| Japan — 14.4% | ||||||||
|
Asahi Intecc Co. Ltd. |
10,000 | 215,933 | ||||||
|
Central Japan Railway Co. |
49,600 | 6,701,764 | ||||||
|
Chugai Pharmaceutical Co. Ltd. |
34,000 | 1,127,903 | ||||||
|
Daiichi Sankyo Co. Ltd. |
131,400 | 3,205,557 | ||||||
|
Daiwa House Industry Co. Ltd. |
666,100 | 18,890,776 | ||||||
|
East Japan Railway Co. |
241,400 | 14,341,270 | ||||||
|
Eisai Co. Ltd. |
34,800 | 1,726,594 | ||||||
|
Japan Metropolitan Fund Invest |
1,043 | 844,145 | ||||||
|
Japan Real Estate Investment Corp. |
110 | 587,593 | ||||||
|
Kyowa Kirin Co. Ltd. |
17,100 | 437,605 | ||||||
|
Nippon Building Fund Inc. |
120 | 687,638 | ||||||
|
Nippon Prologis REIT Inc. |
194 | 570,370 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
49 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® MSCI Global Sustainable Development Goals ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Japan (continued) |
||||||||
|
Nisshin Seifun Group Inc. |
170,500 | $ | 2,420,083 | |||||
|
Nissin Foods Holdings Co. Ltd. |
26,700 | 2,133,254 | ||||||
|
Nomura Real Estate Master Fund Inc. |
479 | 631,686 | ||||||
|
Ono Pharmaceutical Co. Ltd. |
37,100 | 913,402 | ||||||
|
Orix JREIT Inc. |
343 | 479,863 | ||||||
|
Shionogi & Co. Ltd. |
15,700 | 1,043,930 | ||||||
|
Sysmex Corp. |
9,700 | 776,490 | ||||||
|
Terumo Corp. |
51,000 | 1,656,397 | ||||||
|
TOTO Ltd. |
113,100 | 4,761,146 | ||||||
|
Toyo Suisan Kaisha Ltd. |
61,500 | 2,585,268 | ||||||
|
Unicharm Corp. |
95,500 | 3,599,792 | ||||||
|
|
|
|||||||
| 70,338,459 | ||||||||
| Malaysia — 0.1% | ||||||||
|
PPB Group Bhd |
56,900 | 243,131 | ||||||
|
QL Resources Bhd |
392,000 | 462,165 | ||||||
|
|
|
|||||||
| 705,296 | ||||||||
| Mexico — 0.5% | ||||||||
|
Gruma SAB de CV, Class B |
91,640 | 1,242,851 | ||||||
|
Kimberly-Clark de Mexico SAB de CV, Class A |
794,900 | 1,115,445 | ||||||
|
|
|
|||||||
| 2,358,296 | ||||||||
| Netherlands — 0.3% | ||||||||
|
JDE Peet’s NV |
51,078 | 1,676,852 | ||||||
|
|
|
|||||||
| Norway — 0.5% | ||||||||
|
Mowi ASA |
95,523 | 2,459,603 | ||||||
|
|
|
|||||||
| Saudi Arabia — 0.1% | ||||||||
|
Almarai Co. JSC |
37,656 | 504,869 | ||||||
|
|
|
|||||||
| Singapore — 0.5% | ||||||||
|
CapitaLand Integrated Commercial Trust |
703,140 | 1,100,425 | ||||||
|
City Developments Ltd. |
173,000 | 915,431 | ||||||
|
Mapletree Commercial Trust |
235,800 | 316,214 | ||||||
|
|
|
|||||||
| 2,332,070 | ||||||||
| Spain — 0.2% | ||||||||
|
EDP Renovaveis SA |
37,802 | 918,860 | ||||||
|
|
|
|||||||
| Sweden — 2.5% | ||||||||
|
Essity AB, Class B |
299,483 | 7,707,472 | ||||||
|
Svenska Cellulosa AB SCA, Class B |
275,645 | 4,497,296 | ||||||
|
|
|
|||||||
| 12,204,768 | ||||||||
| Switzerland — 4.6% | ||||||||
|
Geberit AG, Registered |
5,093 | 3,331,724 | ||||||
|
Novartis AG, Registered |
220,148 | 19,285,454 | ||||||
|
|
|
|||||||
| 22,617,178 | ||||||||
| Taiwan — 1.7% | ||||||||
|
Taiwan High Speed Rail Corp. |
731,000 | 773,670 | ||||||
|
Uni-President Enterprises Corp. |
3,212,000 | 7,727,726 | ||||||
|
|
|
|||||||
| 8,501,396 | ||||||||
| Thailand — 0.2% | ||||||||
|
BTS Group Holdings PCL, NVDR |
2,964,700 | 864,211 | ||||||
|
|
|
|||||||
| United Kingdom — 6.9% | ||||||||
|
Berkeley Group Holdings PLC |
47,207 | 2,455,062 | ||||||
|
Johnson Matthey PLC |
788,219 | 19,807,551 | ||||||
|
Land Securities Group PLC |
76,305 | 808,582 | ||||||
|
Pearson PLC |
937,834 | 8,113,108 | ||||||
|
United Utilities Group PLC |
153,485 | 2,202,917 | ||||||
|
|
|
|||||||
| 33,387,220 | ||||||||
| Security | Shares | Value | ||||||
|
United States — 24.5% |
||||||||
|
ABIOMED Inc.(a) |
2,099 | $ | 652,243 | |||||
|
Alexandria Real Estate Equities Inc. |
10,875 | 2,059,725 | ||||||
|
Alnylam Pharmaceuticals Inc.(a) |
2,688 | 424,301 | ||||||
|
Amgen Inc. |
50,794 | 11,503,825 | ||||||
|
Baxter International Inc. |
51,347 | 4,362,955 | ||||||
|
BioMarin Pharmaceutical Inc.(a) |
12,201 | 953,142 | ||||||
|
Boston Properties Inc. |
21,005 | 2,569,122 | ||||||
|
Citrix Systems Inc. |
37,519 | 3,845,697 | ||||||
|
Colgate-Palmolive Co. |
92,821 | 7,142,576 | ||||||
|
Dexcom Inc.(a) |
3,643 | 1,507,874 | ||||||
|
Digital Realty Trust Inc. |
60,410 | 8,150,517 | ||||||
|
Edwards Lifesciences Corp.(a) |
23,626 | 2,654,854 | ||||||
|
Eli Lilly & Co. |
45,635 | 11,406,468 | ||||||
|
Enphase Energy Inc.(a) |
12,357 | 2,059,912 | ||||||
|
Healthpeak Properties Inc. |
37,160 | 1,154,190 | ||||||
|
Horizon Therapeutics PLC(a) |
15,707 | 1,432,007 | ||||||
|
Hormel Foods Corp. |
113,043 | 5,385,369 | ||||||
|
Incyte Corp.(a) |
23,534 | 1,607,372 | ||||||
|
Insulet Corp.(a) |
2,857 | 756,219 | ||||||
|
Jazz Pharmaceuticals PLC(a) |
13,468 | 1,850,773 | ||||||
|
Kimberly-Clark Corp. |
138,362 | 18,007,814 | ||||||
|
Regeneron Pharmaceuticals Inc.(a) |
13,525 | 8,363,319 | ||||||
|
Seagen Inc.(a) |
6,850 | 882,759 | ||||||
|
SolarEdge Technologies Inc.(a) |
8,250 | 2,635,215 | ||||||
|
Sun Communities Inc. |
12,485 | 2,259,785 | ||||||
|
Sunrun Inc.(a) |
94,025 | 2,565,002 | ||||||
|
Vertex Pharmaceuticals Inc.(a) |
19,647 | 4,519,203 | ||||||
|
VMware Inc., Class A |
35,146 | 4,123,329 | ||||||
|
Xylem Inc./NY |
51,361 | 4,568,561 | ||||||
|
|
|
|||||||
| 119,404,128 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 100.0% |
487,070,321 | |||||||
|
|
|
|||||||
|
Short-Term Investments |
||||||||
|
Money Market Funds — 2.1% |
||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(d)(e)(f) |
9,520,241 | 9,522,145 | ||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%(d)(e) |
740,000 | 740,000 | ||||||
|
|
|
|||||||
| 10,262,145 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 2.1% |
10,262,145 | |||||||
|
|
|
|||||||
|
Total
Investments in Securities — 102.1% |
497,332,466 | |||||||
|
Other Assets, Less Liabilities — (2.1)% |
(10,146,054 | ) | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 487,186,412 | ||||||
|
|
|
|||||||
| (a) |
Non-income producing security. |
| (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) |
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. |
| 50 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® MSCI Global Sustainable Development Goals ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended February 28, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||||||||
| Affiliated Issuer |
Value at 08/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 02/28/22 |
Shares Held at 02/28/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|
||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 22,422,442 | $ | — | $ | (12,898,727 | )(a) | $ | (1,098 | ) | $ | (472 | ) | $ | 9,522,145 | 9,520,241 | $ | 744,477 | (b) | $ | — | |||||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
1,070,000 | — | (330,000 | )(a) | — | — | 740,000 | 740,000 | 48 | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| $ | (1,098 | ) | $ | (472 | ) | $ | 10,262,145 | $ | 744,525 | $ | — | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| (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 Outstanding as of Period End
Futures Contracts
|
|
||||||||||||||||
| Description |
Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
|
Long Contracts |
||||||||||||||||
|
MSCI EAFE Index |
9 | 03/18/22 | $ | 972 | $ | (41,873 | ) | |||||||||
|
MSCI Emerging Markets Index |
5 | 03/18/22 | 294 | (2,234 | ) | |||||||||||
|
S&P 500 E-Mini Index |
2 | 03/18/22 | 437 | (15,781 | ) | |||||||||||
|
|
|
|||||||||||||||
| $ | (59,888 | ) | ||||||||||||||
|
|
|
|||||||||||||||
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Liabilities — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized depreciation on futures contracts(a) |
$ | 59,888 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended February 28, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | (31,695 | ) | |
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | (76,525 | ) | |
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$ | 2,434,318 | ||
|
|
||||
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
|
S C H E D U L E O F I N V E S T M E N T S |
51 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® MSCI Global Sustainable Development Goals ETF |
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 |
||||||||||||||||
|
Common Stocks |
$ | 170,005,747 | $ | 317,064,574 | $ | — | $ | 487,070,321 | ||||||||
|
Money Market Funds |
10,262,145 | — | — | 10,262,145 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 180,267,892 | $ | 317,064,574 | $ | — | $ | 497,332,466 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Liabilities |
||||||||||||||||
|
Futures Contracts |
$ | (59,888 | ) | $ | — | $ | — | $ | (59,888 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
| 52 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) February 28, 2022 |
iShares® Paris-Aligned Climate MSCI USA ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
|
United States — 99.9% |
||||||||
|
A O Smith Corp. |
3,880 | $ | 266,090 | |||||
|
AbbVie Inc. |
27,720 | 4,096,184 | ||||||
|
ABIOMED Inc.(a) |
1,183 | 367,605 | ||||||
|
Accenture PLC, Class A |
13,923 | 4,399,946 | ||||||
|
Activision Blizzard Inc. |
2,772 | 225,918 | ||||||
|
Adobe Inc.(a) |
15,969 | 7,468,382 | ||||||
|
Advanced Micro Devices Inc.(a) |
26,081 | 3,216,831 | ||||||
|
Aflac Inc. |
42,521 | 2,597,608 | ||||||
|
AGNC Investment Corp. |
44,604 | 575,838 | ||||||
|
Albemarle Corp. |
1,825 | 357,499 | ||||||
|
Align Technology Inc.(a) |
1,008 | 515,552 | ||||||
|
Alleghany Corp.(a) |
1,677 | 1,110,040 | ||||||
|
Allstate Corp. (The) |
6,660 | 814,918 | ||||||
|
Alnylam Pharmaceuticals Inc.(a) |
3,168 | 500,069 | ||||||
|
Alphabet Inc., Class A(a) |
2,128 | 5,748,026 | ||||||
|
Alphabet Inc., Class C, NVS(a) |
5,453 | 14,711,212 | ||||||
|
Amazon.com Inc.(a) |
7,190 | 22,082,359 | ||||||
|
AMERCO |
1,722 | 994,644 | ||||||
|
American Express Co. |
11,394 | 2,216,589 | ||||||
|
American Financial Group Inc./OH |
11,660 | 1,578,647 | ||||||
|
American Tower Corp. |
8,972 | 2,035,478 | ||||||
|
Ameriprise Financial Inc. |
712 | 213,450 | ||||||
|
Amgen Inc. |
5,618 | 1,272,365 | ||||||
|
Amphenol Corp., Class A |
8,693 | 660,755 | ||||||
|
Analog Devices Inc. |
23,305 | 3,735,558 | ||||||
|
Annaly Capital Management Inc. |
62,748 | 436,726 | ||||||
|
ANSYS Inc.(a) |
1,313 | 425,661 | ||||||
|
Anthem Inc. |
4,444 | 2,008,021 | ||||||
|
Aon PLC, Class A |
4,175 | 1,219,684 | ||||||
|
Apple Inc. |
291,911 | 48,200,344 | ||||||
|
Applied Materials Inc. |
6,743 | 904,911 | ||||||
|
Arch Capital Group Ltd.(a) |
20,916 | 985,353 | ||||||
|
Arthur J Gallagher & Co. |
1,582 | 250,257 | ||||||
|
Assurant Inc. |
3,780 | 641,504 | ||||||
|
Autodesk Inc.(a) |
3,528 | 776,971 | ||||||
|
Automatic Data Processing Inc. |
9,481 | 1,938,296 | ||||||
|
AvalonBay Communities Inc. |
17,267 | 4,119,734 | ||||||
|
Avantor Inc.(a) |
2,772 | 96,161 | ||||||
|
Bank of America Corp. |
26,208 | 1,158,394 | ||||||
|
Bank of New York Mellon Corp. (The) |
23,568 | 1,252,639 | ||||||
|
Baxter International Inc. |
1,008 | 85,650 | ||||||
|
Becton Dickinson and Co. |
3,651 | 990,443 | ||||||
|
Biogen Inc.(a) |
2,801 | 591,039 | ||||||
|
BioMarin Pharmaceutical Inc.(a) |
6,426 | 501,999 | ||||||
|
Bio-Rad Laboratories Inc., Class A(a) |
871 | 545,211 | ||||||
|
Bio-Techne Corp. |
436 | 182,863 | ||||||
|
BlackRock Inc.(b) |
4,035 | 3,001,596 | ||||||
|
Blackstone Inc., NVS |
11,950 | 1,523,266 | ||||||
|
Block Inc.(a) |
4,143 | 528,233 | ||||||
|
Booking Holdings Inc.(a) |
440 | 955,790 | ||||||
|
Booz Allen Hamilton Holding Corp. |
2,772 | 223,673 | ||||||
|
Boston Properties Inc. |
35,083 | 4,291,002 | ||||||
|
Boston Scientific Corp.(a) |
28,980 | 1,280,047 | ||||||
|
Bristol-Myers Squibb Co. |
41,227 | 2,831,058 | ||||||
|
Broadcom Inc. |
1,655 | 972,213 | ||||||
|
Broadridge Financial Solutions Inc. |
3,211 | 469,480 | ||||||
|
Brown & Brown Inc. |
15,624 | 1,056,339 | ||||||
|
Brown-Forman Corp., Class B, NVS |
10,080 | 657,518 | ||||||
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Burlington Stores Inc.(a) |
1,913 | $ | 432,128 | |||||
|
Cable One Inc. |
112 | 160,479 | ||||||
|
Caesars Entertainment Inc.(a) |
3,024 | 254,591 | ||||||
|
Carvana Co.(a) |
549 | 82,608 | ||||||
|
Catalent Inc.(a) |
5,356 | 546,526 | ||||||
|
Cboe Global Markets Inc. |
4,284 | 502,470 | ||||||
|
CBRE Group Inc., Class A(a) |
16,632 | 1,610,809 | ||||||
|
CDW Corp./DE |
7,871 | 1,357,433 | ||||||
|
Cerner Corp. |
9,081 | 846,803 | ||||||
|
Charles Schwab Corp. (The) |
41,456 | 3,501,374 | ||||||
|
Charter Communications Inc., Class A(a) |
2,665 | 1,603,744 | ||||||
|
Chipotle Mexican Grill Inc.(a) |
347 | 528,602 | ||||||
|
Chubb Ltd. |
11,124 | 2,265,291 | ||||||
|
Church & Dwight Co. Inc. |
4,788 | 468,506 | ||||||
|
Cincinnati Financial Corp. |
7,657 | 940,203 | ||||||
|
Cintas Corp. |
1,807 | 678,203 | ||||||
|
Cisco Systems Inc. |
92,520 | 5,159,840 | ||||||
|
Citrix Systems Inc. |
28,980 | 2,970,450 | ||||||
|
Clorox Co. (The) |
1,008 | 146,956 | ||||||
|
CME Group Inc. |
8,091 | 1,913,764 | ||||||
|
Coca-Cola Co. (The) |
66,528 | 4,140,703 | ||||||
|
Cognex Corp. |
4,032 | 272,402 | ||||||
|
Cognizant Technology Solutions Corp., Class A |
13,011 | 1,120,637 | ||||||
|
Colgate-Palmolive Co. |
16,712 | 1,285,988 | ||||||
|
Comcast Corp., Class A |
43,562 | 2,036,959 | ||||||
|
Cooper Companies Inc. (The) |
2,016 | 824,584 | ||||||
|
Copart Inc.(a) |
5,167 | 634,921 | ||||||
|
Corning Inc. |
264,294 | 10,677,478 | ||||||
|
CoStar Group Inc.(a) |
8,820 | 538,108 | ||||||
|
Crown Castle International Corp. |
11,698 | 1,948,770 | ||||||
|
Deere & Co. |
380 | 136,808 | ||||||
|
Dexcom Inc.(a) |
1,858 | 769,045 | ||||||
|
Digital Realty Trust Inc. |
21,531 | 2,904,963 | ||||||
|
Discover Financial Services |
5,544 | 684,351 | ||||||
|
DocuSign Inc.(a) |
756 | 89,533 | ||||||
|
Dollar General Corp. |
5,496 | 1,090,077 | ||||||
|
DR Horton Inc. |
3,102 | 264,911 | ||||||
|
Duke Realty Corp. |
44,856 | 2,377,368 | ||||||
|
Eaton Corp. PLC |
17,978 | 2,773,826 | ||||||
|
eBay Inc. |
22,093 | 1,206,057 | ||||||
|
Ecolab Inc. |
58,970 | 10,394,052 | ||||||
|
Edwards Lifesciences Corp.(a) |
51,832 | 5,824,362 | ||||||
|
Elanco Animal Health Inc.(a) |
20,412 | 579,905 | ||||||
|
Eli Lilly & Co. |
19,492 | 4,872,025 | ||||||
|
Enphase Energy Inc.(a) |
29,736 | 4,956,991 | ||||||
|
Equifax Inc. |
3,024 | 660,260 | ||||||
|
Equinix Inc. |
5,094 | 3,615,365 | ||||||
|
Equitable Holdings Inc. |
10,332 | 337,443 | ||||||
|
Equity Residential |
11,996 | 1,023,259 | ||||||
|
Erie Indemnity Co., Class A, NVS |
1,764 | 308,876 | ||||||
|
Estee Lauder Companies Inc. (The), Class A |
1,826 | 541,099 | ||||||
|
Etsy Inc.(a) |
5,796 | 897,742 | ||||||
|
Exact Sciences Corp.(a) |
3,276 | 255,725 | ||||||
|
Extra Space Storage Inc. |
4,689 | 882,235 | ||||||
|
FactSet Research Systems Inc. |
1,655 | 672,079 | ||||||
|
Fastenal Co. |
24,192 | 1,244,920 | ||||||
|
Fidelity National Information Services Inc. |
4,655 | 443,296 | ||||||
|
First Republic Bank/CA |
9,661 | 1,673,865 | ||||||
|
Fiserv Inc.(a) |
12,440 | 1,215,015 | ||||||
|
FleetCor Technologies Inc.(a) |
2,165 | 507,043 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
53 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® Paris-Aligned Climate MSCI USA ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Ford Motor Co. |
85,680 | $ | 1,504,541 | |||||
|
Fortinet Inc.(a) |
2,312 | 796,530 | ||||||
|
Fortive Corp. |
14,004 | 906,759 | ||||||
|
Fortune Brands Home & Security Inc. |
3,528 | 306,583 | ||||||
|
Fox Corp., Class A, NVS |
5,040 | 210,823 | ||||||
|
Fox Corp., Class B |
8,064 | 308,529 | ||||||
|
Garmin Ltd. |
9,712 | 1,072,593 | ||||||
|
Gartner Inc.(a) |
364 | 102,073 | ||||||
|
Generac Holdings Inc.(a) |
2,369 | 747,348 | ||||||
|
General Electric Co. |
58,159 | 5,554,766 | ||||||
|
Global Payments Inc. |
4,788 | 638,623 | ||||||
|
Globe Life Inc. |
3,690 | 372,542 | ||||||
|
GoDaddy Inc., Class A(a) |
4,634 | 386,522 | ||||||
|
Hartford Financial Services Group Inc. (The) |
12,852 | 892,957 | ||||||
|
Hasbro Inc. |
4,400 | 427,020 | ||||||
|
Healthpeak Properties Inc. |
24,641 | 765,349 | ||||||
|
HEICO Corp. |
3,123 | 460,674 | ||||||
|
HEICO Corp., Class A |
1,846 | 226,910 | ||||||
|
Hershey Co. (The) |
2,268 | 458,726 | ||||||
|
Hilton Worldwide Holdings Inc.(a) |
1,809 | 269,288 | ||||||
|
Hologic Inc.(a) |
8,478 | 603,379 | ||||||
|
Home Depot Inc. (The) |
18,247 | 5,762,950 | ||||||
|
Horizon Therapeutics PLC(a) |
1,075 | 98,008 | ||||||
|
Humana Inc. |
2,583 | 1,121,849 | ||||||
|
IAC/InterActiveCorp.(a) |
1,512 | 173,517 | ||||||
|
IDEX Corp. |
4,414 | 847,047 | ||||||
|
IDEXX Laboratories Inc.(a) |
2,252 | 1,198,852 | ||||||
|
Illinois Tool Works Inc. |
9,420 | 2,037,923 | ||||||
|
Illumina Inc.(a) |
4,133 | 1,349,838 | ||||||
|
Ingersoll Rand Inc. |
10,332 | 521,973 | ||||||
|
Insulet Corp.(a) |
1,359 | 359,714 | ||||||
|
Intel Corp. |
93,892 | 4,478,648 | ||||||
|
Intercontinental Exchange Inc. |
14,163 | 1,814,564 | ||||||
|
International Business Machines Corp. |
16,128 | 1,975,841 | ||||||
|
International Flavors & Fragrances Inc. |
756 | 100,548 | ||||||
|
Intuit Inc. |
15,583 | 7,392,108 | ||||||
|
Intuitive Surgical Inc.(a) |
5,588 | 1,622,364 | ||||||
|
Invesco Ltd. |
37,044 | 786,815 | ||||||
|
Jack Henry & Associates Inc. |
547 | 96,710 | ||||||
|
Jazz Pharmaceuticals PLC(a) |
4,134 | 568,094 | ||||||
|
Johnson & Johnson |
38,477 | 6,332,160 | ||||||
|
JPMorgan Chase & Co. |
48,828 | 6,923,810 | ||||||
|
Juniper Networks Inc. |
71,586 | 2,418,891 | ||||||
|
Keurig Dr Pepper Inc. |
18,648 | 721,118 | ||||||
|
KeyCorp. |
33,768 | 846,564 | ||||||
|
Keysight Technologies Inc.(a) |
7,266 | 1,143,450 | ||||||
|
KKR & Co. Inc. |
8,820 | 530,258 | ||||||
|
KLA Corp. |
2,405 | 838,143 | ||||||
|
L3Harris Technologies Inc. |
4,032 | 1,017,314 | ||||||
|
Laboratory Corp. of America Holdings(a) |
630 | 170,894 | ||||||
|
Liberty Broadband Corp., Class C, NVS(a) |
15,248 | 2,236,882 | ||||||
|
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a) |
6,552 | 397,903 | ||||||
|
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a) |
15,502 | 780,061 | ||||||
|
Live Nation Entertainment Inc.(a) |
4,721 | 570,391 | ||||||
|
Lowe’s Companies Inc. |
12,822 | 2,834,431 | ||||||
|
Lululemon Athletica Inc.(a) |
5,869 | 1,877,728 | ||||||
|
Lyft Inc., Class A(a) |
2,520 | 98,129 | ||||||
|
M&T Bank Corp. |
3,683 | 671,153 | ||||||
|
Markel Corp.(a) |
783 | 973,199 | ||||||
|
MarketAxess Holdings Inc. |
1,295 | 493,952 | ||||||
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Marriott International Inc./MD, Class A(a) |
1,376 | $ | 234,113 | |||||
|
Marsh & McLennan Companies Inc. |
11,885 | 1,847,048 | ||||||
|
Marvell Technology Inc. |
32,385 | 2,212,867 | ||||||
|
Masco Corp. |
5,292 | 296,564 | ||||||
|
Masimo Corp.(a) |
897 | 141,233 | ||||||
|
Mastercard Inc., Class A |
13,007 | 4,693,186 | ||||||
|
Match Group Inc.(a) |
4,969 | 553,994 | ||||||
|
McDonald’s Corp. |
29,560 | 7,235,401 | ||||||
|
Medical Properties Trust Inc. |
54,432 | 1,107,147 | ||||||
|
Medtronic PLC |
28,224 | 2,963,238 | ||||||
|
MercadoLibre Inc.(a) |
1,000 | 1,126,650 | ||||||
|
Merck & Co. Inc. |
54,267 | 4,155,767 | ||||||
|
Meta Platforms Inc., Class A(a) |
40,526 | 8,552,202 | ||||||
|
MetLife Inc. |
15,624 | 1,055,401 | ||||||
|
Mettler-Toledo International Inc.(a) |
295 | 415,578 | ||||||
|
Microsoft Corp. |
130,385 | 38,957,734 | ||||||
|
Moderna Inc.(a) |
4,731 | 726,682 | ||||||
|
Molina Healthcare Inc.(a) |
332 | 101,881 | ||||||
|
MongoDB Inc.(a) |
267 | 101,991 | ||||||
|
Monster Beverage Corp.(a) |
6,188 | 522,267 | ||||||
|
Moody’s Corp. |
8,105 | 2,610,053 | ||||||
|
Motorola Solutions Inc. |
8,490 | 1,871,451 | ||||||
|
Nasdaq Inc. |
4,195 | 717,974 | ||||||
|
Netflix Inc.(a) |
7,733 | 3,050,823 | ||||||
|
Neurocrine Biosciences Inc.(a) |
2,520 | 226,472 | ||||||
|
NextEra Energy Inc. |
28,728 | 2,248,541 | ||||||
|
Nike Inc., Class B |
7,560 | 1,032,318 | ||||||
|
Northern Trust Corp. |
7,243 | 824,978 | ||||||
|
Novavax Inc.(a) |
399 | 33,265 | ||||||
|
Novocure Ltd.(a) |
1,376 | 112,639 | ||||||
|
NVIDIA Corp. |
49,304 | 12,022,780 | ||||||
|
NVR Inc.(a) |
149 | 738,808 | ||||||
|
Okta Inc.(a) |
1,330 | 243,177 | ||||||
|
Old Dominion Freight Line Inc. |
3,757 | 1,179,811 | ||||||
|
Oracle Corp. |
32,004 | 2,431,344 | ||||||
|
Palo Alto Networks Inc.(a) |
1,780 | 1,057,765 | ||||||
|
Paramount Global, Class B, NVS |
8,568 | 262,266 | ||||||
|
Paychex Inc. |
13,860 | 1,650,172 | ||||||
|
Paycom Software Inc.(a) |
252 | 85,481 | ||||||
|
PayPal Holdings Inc.(a) |
18,508 | 2,071,600 | ||||||
|
Peloton Interactive Inc., Class A(a) |
1,573 | 45,711 | ||||||
|
Pentair PLC |
18,033 | 1,044,291 | ||||||
|
PerkinElmer Inc. |
9,359 | 1,680,970 | ||||||
|
Pfizer Inc. |
28,633 | 1,344,033 | ||||||
|
Pinterest Inc., Class A(a) |
5,544 | 148,302 | ||||||
|
Plug Power Inc.(a) |
51,156 | 1,293,735 | ||||||
|
PNC Financial Services Group Inc. (The) |
4,745 | 945,441 | ||||||
|
Pool Corp. |
326 | 149,497 | ||||||
|
PPG Industries Inc. |
430 | 57,384 | ||||||
|
Progressive Corp. (The) |
11,750 | 1,244,677 | ||||||
|
Prologis Inc. |
36,160 | 5,273,936 | ||||||
|
Public Storage |
6,255 | 2,220,650 | ||||||
|
QUALCOMM Inc. |
22,748 | 3,912,429 | ||||||
|
Quest Diagnostics Inc. |
1,512 | 198,480 | ||||||
|
Raymond James Financial Inc. |
1,064 | 116,668 | ||||||
|
Realty Income Corp. |
35,661 | 2,356,835 | ||||||
|
Regency Centers Corp. |
11,844 | 780,401 | ||||||
|
Regeneron Pharmaceuticals Inc.(a) |
2,016 | 1,246,614 | ||||||
|
ResMed Inc. |
4,739 | 1,169,348 | ||||||
|
RingCentral Inc., Class A(a) |
2,943 | 385,062 | ||||||
| 54 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® Paris-Aligned Climate MSCI USA ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Robert Half International Inc. |
2,904 | $ | 349,322 | |||||
|
Rockwell Automation Inc. |
4,536 | 1,209,207 | ||||||
|
Roku Inc.(a) |
692 | 96,555 | ||||||
|
Rollins Inc. |
12,096 | 394,692 | ||||||
|
Roper Technologies Inc. |
2,283 | 1,023,286 | ||||||
|
Ross Stores Inc. |
8,316 | 759,999 | ||||||
|
S&P Global Inc. |
12,445 | 4,675,611 | ||||||
|
salesforce.com Inc.(a) |
17,079 | 3,595,642 | ||||||
|
SBA Communications Corp. |
2,268 | 688,089 | ||||||
|
Seagen Inc.(a) |
1,512 | 194,851 | ||||||
|
SEI Investments Co. |
11,088 | 649,535 | ||||||
|
ServiceNow Inc.(a) |
9,576 | 5,553,314 | ||||||
|
Sherwin-Williams Co. (The) |
41,328 | 10,874,637 | ||||||
|
Simon Property Group Inc. |
7,056 | 970,623 | ||||||
|
Sirius XM Holdings Inc.(c) |
83,412 | 513,818 | ||||||
|
Skyworks Solutions Inc. |
2,361 | 326,219 | ||||||
|
Snap Inc., Class A, NVS(a) |
12,852 | 513,309 | ||||||
|
Snowflake Inc., Class A(a) |
252 | 66,946 | ||||||
|
SolarEdge Technologies Inc.(a) |
17,027 | 5,438,764 | ||||||
|
Splunk Inc.(a) |
3,465 | 409,217 | ||||||
|
SS&C Technologies Holdings Inc. |
870 | 65,224 | ||||||
|
Stanley Black & Decker Inc. |
2,720 | 442,544 | ||||||
|
Starbucks Corp. |
24,123 | 2,214,250 | ||||||
|
Stryker Corp. |
7,150 | 1,882,952 | ||||||
|
Sun Communities Inc. |
651 | 117,831 | ||||||
|
Sunrun Inc.(a) |
56,952 | 1,553,651 | ||||||
|
SVB Financial Group(a) |
3,110 | 1,884,660 | ||||||
|
Synopsys Inc.(a) |
1,390 | 434,222 | ||||||
|
T Rowe Price Group Inc. |
7,105 | 1,027,099 | ||||||
|
Take-Two Interactive Software Inc.(a) |
1,092 | 176,904 | ||||||
|
TE Connectivity Ltd. |
2,520 | 358,924 | ||||||
|
Teladoc Health Inc.(a) |
1,512 | 114,776 | ||||||
|
Teledyne Technologies Inc.(a) |
3,335 | 1,431,982 | ||||||
|
Teleflex Inc. |
1,512 | 508,501 | ||||||
|
Tesla Inc.(a) |
19,198 | 16,710,515 | ||||||
|
Texas Instruments Inc. |
25,649 | 4,360,074 | ||||||
|
Thermo Fisher Scientific Inc. |
7,994 | 4,348,736 | ||||||
|
TJX Companies Inc. (The) |
27,468 | 1,815,635 | ||||||
|
T-Mobile U.S. Inc.(a) |
3,830 | 471,894 | ||||||
|
Trade Desk Inc. (The), Class A(a) |
5,126 | 437,350 | ||||||
|
Tradeweb Markets Inc., Class A |
1,158 | 97,828 | ||||||
|
TransDigm Group Inc.(a) |
1,502 | 1,001,218 | ||||||
|
Trimble Inc.(a) |
15,372 | 1,072,197 | ||||||
|
Truist Financial Corp. |
15,624 | 972,125 | ||||||
|
Twilio Inc., Class A(a) |
2,176 | 380,365 | ||||||
|
Twitter Inc.(a) |
17,136 | 609,185 | ||||||
|
Tyler Technologies Inc.(a) |
591 | 253,102 | ||||||
|
U.S. Bancorp. |
27,596 | 1,560,278 | ||||||
|
Uber Technologies Inc.(a) |
22,428 | 808,081 | ||||||
|
Ulta Beauty Inc.(a) |
1,512 | 566,244 | ||||||
|
UnitedHealth Group Inc. |
14,749 | 7,018,607 | ||||||
|
Vail Resorts Inc. |
231 | 60,187 | ||||||
|
Veeva Systems Inc., Class A(a) |
2,668 | 611,105 | ||||||
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Ventas Inc. |
10,332 | $ | 557,928 | |||||
|
VeriSign Inc.(a) |
3,780 | 807,862 | ||||||
|
Verisk Analytics Inc. |
4,222 | 748,729 | ||||||
|
Verizon Communications Inc. |
23,688 | 1,271,335 | ||||||
|
Vertex Pharmaceuticals Inc.(a) |
4,639 | 1,067,063 | ||||||
|
VF Corp. |
7,411 | 429,986 | ||||||
|
Visa Inc., Class A |
32,461 | 7,015,471 | ||||||
|
Vornado Realty Trust |
51,553 | 2,231,214 | ||||||
|
Walt Disney Co. (The)(a) |
31,861 | 4,730,084 | ||||||
|
Wayfair Inc., Class A(a) |
1,260 | 177,496 | ||||||
|
Welltower Inc. |
12,852 | 1,070,443 | ||||||
|
West Pharmaceutical Services Inc. |
252 | 97,544 | ||||||
|
Westinghouse Air Brake Technologies Corp. |
1,260 | 116,953 | ||||||
|
Willis Towers Watson PLC |
3,596 | 799,391 | ||||||
|
Workday Inc., Class A(a) |
2,304 | 527,731 | ||||||
|
WP Carey Inc. |
3,528 | 273,067 | ||||||
|
WW Grainger Inc. |
542 | 258,567 | ||||||
|
Wynn Resorts Ltd.(a) |
1,764 | 152,621 | ||||||
|
Xylem Inc./NY |
58,689 | 5,220,387 | ||||||
|
Yum! Brands Inc. |
10,332 | 1,266,497 | ||||||
|
Zebra Technologies Corp., Class A(a) |
797 | 329,432 | ||||||
|
Zillow Group Inc., Class A(a) |
1,292 | 73,993 | ||||||
|
Zillow Group Inc., Class C, NVS(a) |
1,512 | 86,970 | ||||||
|
Zimmer Biomet Holdings Inc. |
5,292 | 673,089 | ||||||
|
Zoetis Inc. |
12,497 | 2,420,044 | ||||||
|
Zoom Video Communications Inc., Class A(a) |
4,032 | 534,643 | ||||||
|
|
|
|||||||
| 614,411,342 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 99.9% |
614,411,342 | |||||||
|
|
|
|||||||
|
Short-Term Investments |
||||||||
|
Money Market Funds — 0.1% |
||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(b)(d)(e) |
2,963 | 2,964 | ||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%(b)(d) |
640,000 | 640,000 | ||||||
|
|
|
|||||||
| 642,964 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 0.1% |
642,964 | |||||||
|
|
|
|||||||
|
Total
Investments in Securities — 100.0% |
615,054,306 | |||||||
|
Other Assets, Less Liabilities — 0.0% |
288,749 | |||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 615,343,055 | ||||||
|
|
|
|||||||
| (a) |
Non-income producing security. |
| (b) |
Affiliate of the Fund. |
| (c) |
All or a portion of this security is on loan. |
| (d) |
Annualized 7-day yield as of period end. |
| (e) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
|
S C H E D U L E O F I N V E S T M E N T S |
55 |
|
Schedule of Investments (unaudited) (continued) February 28, 2022 |
iShares® Paris-Aligned Climate MSCI USA ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended February 28, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||
| Affiliated Issuer | |
Value at 02/08/22 |
(a) |
|
Purchases at Cost |
|
|
Proceeds from Sales |
|
|
Net Realized Gain (Loss) |
|
|
Change
in Unrealized Appreciation (Depreciation) |
|
|
Value at 02/28/22 |
|
|
Shares Held at 02/28/22 |
|
Income | |
Capital Gain |
| |||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | — | $ | 2,964 | (b) | $ | — | $ | — | $ | — | $ | 2,964 | 2,963 | $ | — | $ | — | ||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
— | 640,000 | (b) | — | — | — | 640,000 | 640,000 | 25 | — | ||||||||||||||||||||||||||
|
BlackRock Inc. |
— | 3,159,001 | — | — | (157,405 | ) | 3,001,596 | 4,035 | — | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | — | $ | (157,405 | ) | $ | 3,644,560 | $ | 25 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
The Fund commenced operations on February 08, 2022. |
| (b) |
Represents net amount purchased (sold). |
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 |
||||||||||||||||
|
Common Stocks |
$ | 614,411,342 | $ | — | $ | — | $ | 614,411,342 | ||||||||
|
Money Market Funds |
642,964 | — | — | 642,964 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 615,054,306 | $ | — | $ | — | $ | 615,054,306 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
| 56 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Assets and Liabilities (unaudited)
February 28, 2022
|
iShares ESG Aware MSCI EAFE ETF |
iShares USA ETF |
iShares ESG Aware MSCI USA Small-Cap ETF |
iShares ESG MSCI EM Leaders ETF |
|||||||||||||
|
|
||||||||||||||||
|
ASSETS |
||||||||||||||||
|
Investments in securities, at value (including securities on loan)(a): |
||||||||||||||||
|
Unaffiliated(b) |
$ | 7,258,045,952 | $ | 23,472,898,825 | $ | 1,528,933,022 | $ | 71,099,438 | ||||||||
|
Affiliated(c) |
9,104,808 | 328,594,450 | 40,602,176 | 650,125 | ||||||||||||
|
Cash |
6,898 | 3,171,970 | 76,539 | 49,070 | ||||||||||||
|
Foreign currency, at value(d) |
17,545,491 | — | — | 119,598 | ||||||||||||
|
Cash pledged: |
||||||||||||||||
|
Futures contracts |
— | 7,920,000 | 164,000 | 41,000 | ||||||||||||
|
Foreign currency collateral pledged: |
||||||||||||||||
|
Futures contracts(e) |
3,462,889 | — | — | — | ||||||||||||
|
Receivables: |
||||||||||||||||
|
Investments sold |
433,152,156 | 1,155,181,332 | 77,427,203 | 630,259 | ||||||||||||
|
Securities lending income — Affiliated |
2,940 | 19,508 | 46,372 | 214 | ||||||||||||
|
Variation margin on futures contracts |
— | — | 4,270 | — | ||||||||||||
|
Capital shares sold |
— | 96,128 | — | — | ||||||||||||
|
Dividends |
10,521,492 | 29,892,800 | 905,281 | 262,503 | ||||||||||||
|
Tax reclaims |
7,026,722 | — | — | 32,881 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total assets |
7,738,869,348 | 24,997,775,013 | 1,648,158,863 | 72,885,088 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
LIABILITIES |
||||||||||||||||
|
Collateral on securities loaned, at value |
7,516,056 | 96,814,745 | 36,842,187 | 36,608 | ||||||||||||
|
Deferred foreign capital gain tax |
— | — | — | 71,064 | ||||||||||||
|
Payables: |
||||||||||||||||
|
Investments purchased |
429,586,151 | 1,205,137,085 | 79,551,883 | 1,319,498 | ||||||||||||
|
Variation margin on futures contracts |
30,555 | 380,005 | — | 13,388 | ||||||||||||
|
Investment advisory fees |
1,150,829 | 2,785,044 | 196,094 | 9,248 | ||||||||||||
|
Professional fees |
1,692 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total liabilities |
438,285,283 | 1,305,116,879 | 116,590,164 | 1,449,806 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
$ | 7,300,584,065 | $ | 23,692,658,134 | $ | 1,531,568,699 | $ | 71,435,282 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS CONSIST OF: |
||||||||||||||||
|
Paid-in capital |
$ | 6,889,844,663 | $ | 20,721,821,308 | $ | 1,461,674,748 | $ | 929,360 | ||||||||
|
Accumulated earnings |
410,739,402 | 2,970,836,826 | 69,893,951 | 70,505,922 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
$ | 7,300,584,065 | $ | 23,692,658,134 | $ | 1,531,568,699 | $ | 71,435,282 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Shares outstanding |
98,900,000 | 241,200,000 | 40,700,000 | 1,300,000 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net asset value |
$ | 73.82 | $ | 98.23 | $ | 37.63 | $ | 54.95 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Shares authorized |
Unlimited | Unlimited | Unlimited | Unlimited | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Par value |
None | None | None | None | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(a) Securities loaned, at value |
$ | 7,382,427 | $ | 86,574,727 | $ | 36,035,142 | $ | 35,903 | ||||||||
|
(b) Investments, at cost — Unaffiliated |
$ | 6,616,753,241 | $ | 20,879,091,272 | $ | 1,431,029,945 | $ | 63,133,118 | ||||||||
|
(c) Investments, at cost — Affiliated |
$ | 9,105,127 | $ | 324,752,483 | $ | 40,601,891 | $ | 650,125 | ||||||||
|
(d) Foreign currency, at cost |
$ | 17,634,788 | $ | — | $ | — | $ | 120,147 | ||||||||
|
(e) Foreign currency collateral pledged, at cost |
$ | 3,499,406 | $ | — | $ | — | $ | — | ||||||||
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
57 |
Statements of Assets and Liabilities (unaudited) (continued)
February 28, 2022
|
iShares ESG MSCI USA |
iShares MSCI Global Goals ETF |
iShares Paris-Aligned MSCI USA ETF |
||||||||||
|
|
||||||||||||
|
ASSETS |
||||||||||||
|
Investments in securities, at value (including securities on loan)(a): |
||||||||||||
|
Unaffiliated(b) |
$ | 3,686,698,012 | $ | 487,070,321 | $ | 611,409,746 | ||||||
|
Affiliated(c) |
47,989,210 | 10,262,145 | 3,644,560 | |||||||||
|
Cash |
2,344 | 314,454 | 105 | |||||||||
|
Foreign currency, at value(d) |
— | 1,409,534 | — | |||||||||
|
Cash pledged: |
||||||||||||
|
Futures contracts |
502,000 | 75,000 | — | |||||||||
|
Receivables: |
||||||||||||
|
Investments sold |
13,054,441 | 59,577,684 | — | |||||||||
|
Securities lending income — Affiliated |
3,109 | 44,695 | — | |||||||||
|
Capital shares sold |
— | — | 2 | |||||||||
|
Dividends |
4,949,573 | 377,412 | 310,048 | |||||||||
|
Tax reclaims |
— | 78,700 | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total assets |
3,753,198,689 | 559,209,945 | 615,364,461 | |||||||||
|
|
|
|
|
|
|
|||||||
|
LIABILITIES |
||||||||||||
|
Collateral on securities loaned, at value |
20,139,337 | 9,524,152 | 2,964 | |||||||||
|
Payables: |
||||||||||||
|
Investments purchased |
16,200,991 | 61,574,883 | — | |||||||||
|
Variation margin on futures contracts |
26,823 | 23,695 | — | |||||||||
|
Bank borrowings |
— | 24 | — | |||||||||
|
Capital shares redeemed |
— | 712,732 | — | |||||||||
|
Investment advisory fees |
287,700 | 188,047 | 18,442 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total liabilities |
36,654,851 | 72,023,533 | 21,406 | |||||||||
|
|
|
|
|
|
|
|||||||
|
NET ASSETS |
$ | 3,716,543,838 | $ | 487,186,412 | $ | 615,343,055 | ||||||
|
|
|
|
|
|
|
|||||||
|
NET ASSETS CONSIST OF: |
||||||||||||
|
Paid-in capital |
$ | 2,665,759,327 | $ | 511,851,205 | $ | 629,111,773 | ||||||
|
Accumulated earnings (loss) |
1,050,784,511 | (24,664,793 | ) | (13,768,718 | ) | |||||||
|
|
|
|
|
|
|
|||||||
|
NET ASSETS |
$ | 3,716,543,838 | $ | 487,186,412 | $ | 615,343,055 | ||||||
|
|
|
|
|
|
|
|||||||
|
Shares outstanding |
48,600,000 | 5,600,000 | 12,600,000 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value |
$ | 76.47 | $ | 87.00 | $ | 48.84 | ||||||
|
|
|
|
|
|
|
|||||||
|
Shares authorized |
Unlimited | Unlimited | Unlimited | |||||||||
|
|
|
|
|
|
|
|||||||
|
Par value |
None | None | None | |||||||||
|
|
|
|
|
|
|
|||||||
|
(a) Securities loaned, at value |
$ | 20,048,450 | $ | 9,009,705 | $ | 2,809 | ||||||
|
(b) Investments, at cost — Unaffiliated |
$ | 2,873,973,101 | $ | 492,235,630 | $ | 625,257,303 | ||||||
|
(c) Investments, at cost — Affiliated |
$ | 44,034,375 | $ | 10,262,617 | $ | 3,801,965 | ||||||
|
(d) Foreign currency, at cost |
$ | — | $ | 1,413,082 | $ | — | ||||||
See notes to financial statements.
| 58 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Operations (unaudited)
Six Months Ended February 28, 2022
|
iShares ESG Aware ETF |
iShares ESG Aware MSCI USA ETF |
iShares ESG Aware |
iShares ESG MSCI EM Leaders |
|||||||||||||
|
|
||||||||||||||||
|
INVESTMENT INCOME |
|
|||||||||||||||
|
Dividends — Unaffiliated |
$ | 63,946,910 | $ | 163,981,228 | $ | 7,077,411 | $ | 5,025,720 | ||||||||
|
Dividends — Affiliated |
1,756 | 1,186,068 | 3,803 | 1,052 | ||||||||||||
|
Securities lending income — Affiliated — net |
108,185 | 112,970 | 127,046 | 12,446 | ||||||||||||
|
Foreign taxes withheld |
(7,014,453 | ) | (38,646 | ) | (2,824 | ) | (643,241 | ) | ||||||||
|
Foreign withholding tax claims |
17,734 | — | — | — | ||||||||||||
|
Other foreign taxes |
— | — | — | (14,271 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total investment income |
57,060,132 | 165,241,620 | 7,205,436 | 4,381,706 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
EXPENSES |
||||||||||||||||
|
Investment advisory fees |
7,176,726 | 17,751,892 | 1,087,565 | 456,872 | ||||||||||||
|
Commitment fees |
— | — | — | 2,762 | ||||||||||||
|
Professional fees |
1,991 | 217 | 217 | — | ||||||||||||
|
Interest expense |
— | — | — | 173 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total expenses |
7,178,717 | 17,752,109 | 1,087,782 | 459,807 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income |
49,881,415 | 147,489,511 | 6,117,654 | 3,921,899 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||
|
Net realized gain (loss) from: |
||||||||||||||||
|
Investments — Unaffiliated(a) |
(95,971,547 | ) | (274,124,482 | ) | (32,567,712 | ) | 59,143,293 | |||||||||
|
Investments — Affiliated |
(5,864 | ) | (34,663 | ) | (8,355 | ) | (1,984 | ) | ||||||||
|
In-kind redemptions — Unaffiliated |
— | 820,125,166 | 24,575,336 | 14,435,940 | ||||||||||||
|
In-kind redemptions — Affiliated |
— | 2,991,663 | — | — | ||||||||||||
|
Futures contracts |
1,286,813 | 1,588,992 | (167,459 | ) | (94,192 | ) | ||||||||||
|
Foreign currency transactions |
(1,501,061 | ) | — | — | 201,268 | |||||||||||
|
Payments by affiliate |
— | — | — | 664,427 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net realized gain (loss) |
(96,191,659 | ) | 550,546,676 | (8,168,190 | ) | 74,348,752 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
|
Investments — Unaffiliated(b) |
(522,522,333 | ) | (1,865,485,118 | ) | (83,686,582 | ) | (151,632,155 | ) | ||||||||
|
Investments — Affiliated |
(319 | ) | (33,436,919 | ) | (4,044 | ) | — | |||||||||
|
Futures contracts |
(1,767,449 | ) | (8,106,665 | ) | (74,684 | ) | (28,921 | ) | ||||||||
|
Foreign currency translations |
58,709 | — | — | (25,550 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change in unrealized appreciation (depreciation) |
(524,231,392 | ) | (1,907,028,702 | ) | (83,765,310 | ) | (151,686,626 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net realized and unrealized loss |
(620,423,051 | ) | (1,356,482,026 | ) | (91,933,500 | ) | (77,337,874 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (570,541,636 | ) | $ | (1,208,992,515 | ) | $ | (85,815,846 | ) | $ | (73,415,975 | ) | ||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(a) Net of foreign capital gain tax and capital gain tax refund, if applicable |
$ | — | $ | — | $ | — | $ | (4,081,432 | ) | |||||||
|
(b) Net of reduction in deferred foreign capital gain tax of |
$ | — | $ | — | $ | — | $ | 3,823,206 | ||||||||
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
59 |
Statements of Operations (unaudited) (continued)
Six Months Ended February 28, 2022
| |
iShares ESG MSCI USA Leaders ETF |
|
|
iShares MSCI Global |
|
|
iShares Paris-Aligned ETF |
(a) | ||||
|
|
||||||||||||
|
INVESTMENT INCOME |
|
|||||||||||
|
Dividends — Unaffiliated |
$ | 27,183,665 | $ | 5,520,298 | $ | 310,722 | ||||||
|
Dividends — Affiliated |
255,732 | 574 | 25 | |||||||||
|
Securities lending income — Affiliated — net |
12,742 | 743,951 | — | |||||||||
|
Foreign taxes withheld |
— | (498,150 | ) | — | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total investment income |
27,452,139 | 5,766,673 | 310,747 | |||||||||
|
|
|
|
|
|
|
|||||||
|
EXPENSES |
||||||||||||
|
Investment advisory fees |
2,012,613 | 1,309,954 | 27,663 | |||||||||
|
Commitment fees |
— | 1,081 | — | |||||||||
|
Professional fees |
— | 217 | — | |||||||||
|
Interest expense |
— | 60 | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total expenses |
2,012,613 | 1,311,312 | 27,663 | |||||||||
|
Less: |
||||||||||||
|
Investment advisory fees waived |
— | — | (9,221 | ) | ||||||||
|
|
|
|
|
|
|
|||||||
|
Total expenses after fees waived |
2,012,613 | 1,311,312 | 18,442 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Net investment income |
25,439,526 | 4,455,361 | 292,305 | |||||||||
|
|
|
|
|
|
|
|||||||
|
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||
|
Net realized gain (loss) from: |
||||||||||||
|
Investments — Unaffiliated(b) |
348,588 | (22,658,828 | ) | (56,061 | ) | |||||||
|
Investments — Affiliated |
(9,939 | ) | (1,098 | ) | — | |||||||
|
In-kind redemptions — Unaffiliated |
267,103,828 | 8,996,626 | — | |||||||||
|
In-kind redemptions — Affiliated |
1,937,077 | — | — | |||||||||
|
Futures contracts |
284,190 | (31,695 | ) | — | ||||||||
|
Foreign currency transactions |
— | 54,756 | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Net realized gain (loss) |
269,663,744 | (13,640,239 | ) | (56,061 | ) | |||||||
|
|
|
|
|
|
|
|||||||
|
Net change in unrealized appreciation (depreciation) on: |
||||||||||||
|
Investments — Unaffiliated(c) |
(399,187,410 | ) | (61,078,282 | ) | (13,847,557 | ) | ||||||
|
Investments — Affiliated |
(7,701,570 | ) | (472 | ) | (157,405 | ) | ||||||
|
Futures contracts |
(428,853 | ) | (76,525 | ) | — | |||||||
|
Foreign currency translations |
— | (9,739 | ) | — | ||||||||
|
|
|
|
|
|
|
|||||||
|
Net change in unrealized appreciation (depreciation) |
(407,317,833 | ) | (61,165,018 | ) | (14,004,962 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net realized and unrealized loss |
(137,654,089 | ) | (74,805,257 | ) | (14,061,023 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (112,214,563 | ) | $ | (70,349,896 | ) | $ | (13,768,718 | ) | |||
|
|
|
|
|
|
|
|||||||
|
(a) For the period from February 08, 2022 (commencement of operations) to February 28, 2022. |
||||||||||||
|
(b) Net of foreign capital gain tax and capital gain tax refund, if applicable |
$ | — | $ | (16,355 | ) | $ | — | |||||
|
(c) Net of reduction in deferred foreign capital gain tax of |
$ | — | $ | 73,849 | $ | — | ||||||
See notes to financial statements.
| 60 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Changes in Net Assets
|
iShares ESG Aware MSCI EAFE ETF |
iShares ESG Aware MSCI USA ETF |
|||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||
|
Six Months Ended (unaudited) |
Year Ended 08/31/21 |
Six Months Ended (unaudited) |
Year Ended 08/31/21 |
|||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||||||||
|
OPERATIONS |
||||||||||||||||||||||||||||||||||
|
Net investment income |
$ | 49,881,415 | $ | 115,531,804 | $ | 147,489,511 | $ | 192,764,401 | ||||||||||||||||||||||||||
|
Net realized gain (loss) |
(96,191,659 | ) | 16,033,328 | 550,546,676 | 992,792,215 | |||||||||||||||||||||||||||||
|
Net change in unrealized appreciation (depreciation) |
(524,231,392 | ) | 895,583,648 | (1,907,028,702 | ) | 3,120,431,446 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Net increase (decrease) in net assets resulting from operations |
(570,541,636 | ) | 1,027,148,780 | (1,208,992,515 | ) | 4,305,988,062 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(103,966,446 | ) | (109,833,351 | ) | (141,911,341 | ) | (167,851,349 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||||||||
|
Net increase in net assets derived from capital share transactions |
1,280,423,560 | 2,751,834,650 | 2,780,931,587 | 9,133,348,336 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
NET ASSETS |
||||||||||||||||||||||||||||||||||
|
Total increase in net assets |
605,915,478 | 3,669,150,079 | 1,430,027,731 | 13,271,485,049 | ||||||||||||||||||||||||||||||
|
Beginning of period |
6,694,668,587 | 3,025,518,508 | 22,262,630,403 | 8,991,145,354 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
End of period |
$ | 7,300,584,065 | $ | 6,694,668,587 | $ | 23,692,658,134 | $ | 22,262,630,403 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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 |
61 |
Statements of Changes in Net Assets (continued)
|
iShares ESG Aware MSCI USA Small-Cap ETF |
iShares ESG MSCI EM Leaders ETF |
|||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||
|
Six Months Ended (unaudited) |
Year Ended 08/31/21 |
Six Months Ended (unaudited) |
Year Ended 08/31/21 |
|||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||||||||
|
OPERATIONS |
||||||||||||||||||||||||||||||||||
|
Net investment income |
$ | 6,117,654 | $ | 6,566,761 | $ | 3,921,899 | $ | 13,585,956 | ||||||||||||||||||||||||||
|
Net realized gain (loss) |
(8,168,190 | ) | 58,637,182 | 74,348,752 | 6,274,042 | |||||||||||||||||||||||||||||
|
Net change in unrealized appreciation (depreciation) |
(83,765,310 | ) | 145,119,975 | (151,686,626 | ) | 147,282,364 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Net increase (decrease) in net assets resulting from operations |
(85,815,846 | ) | 210,323,918 | (73,415,975 | ) | 167,142,362 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(6,455,326 | ) | (6,491,221 | ) | (11,162,256 | ) | (14,341,619 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||||||||
|
Net increase (decrease) in net assets derived from capital share transactions |
524,801,574 | 528,866,554 | (726,515,865 | ) | 81,760,096 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
NET ASSETS |
||||||||||||||||||||||||||||||||||
|
Total increase (decrease) in net assets |
432,530,402 | 732,699,251 | (811,094,096 | ) | 234,560,839 | |||||||||||||||||||||||||||||
|
Beginning of period |
1,099,038,297 | 366,339,046 | 882,529,378 | 647,968,539 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
End of period |
$ | 1,531,568,699 | $ | 1,099,038,297 | $ | 71,435,282 | $ | 882,529,378 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
| 62 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Changes in Net Assets (continued)
|
iShares ESG MSCI USA Leaders ETF |
iShares MSCI Global Sustainable Development Goals ETF |
|||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||
|
Six Months Ended 02/28/22 (unaudited) |
Year Ended 08/31/21 |
|
Six Months Ended 02/28/22 (unaudited) |
Year Ended 08/31/21 |
||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||||||||
|
OPERATIONS |
||||||||||||||||||||||||||||||||||
|
Net investment income |
$ | 25,439,526 | $ | 43,173,611 | $ | 4,455,361 | $ | 4,476,779 | ||||||||||||||||||||||||||
|
Net realized gain (loss) |
269,663,744 | 98,846,411 | (13,640,239 | ) | 31,553,900 | |||||||||||||||||||||||||||||
|
Net change in unrealized appreciation (depreciation) |
(407,317,833 | ) | 787,905,029 | (61,165,018 | ) | 30,670,347 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Net increase (decrease) in net assets resulting from operations |
(112,214,563 | ) | 929,925,051 | (70,349,896 | ) | 66,701,026 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(26,106,978 | ) | (41,279,956 | ) | (6,167,286 | ) | (3,512,120 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||||||||
|
Net increase (decrease) in net assets derived from capital share transactions |
(223,097,025 | ) | 625,089,662 | (1,441,811 | ) | 326,352,651 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
NET ASSETS |
||||||||||||||||||||||||||||||||||
|
Total increase (decrease) in net assets |
(361,418,566 | ) | 1,513,734,757 | (77,958,993 | ) | 389,541,557 | ||||||||||||||||||||||||||||
|
Beginning of period |
4,077,962,404 | 2,564,227,647 | 565,145,405 | 175,603,848 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
End of period |
$ | 3,716,543,838 | $ | 4,077,962,404 | $ | 487,186,412 | $ | 565,145,405 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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 |
63 |
Statements of Changes in Net Assets (continued)
| iShares Paris-Aligned Climate MSCI USA ETF |
||||
| |
Period From 02/08/22 to 02/28/22 |
(a)
| ||
|
|
||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||
|
OPERATIONS |
||||
|
Net investment income |
$ | 292,305 | ||
|
Net realized loss |
(56,061 | ) | ||
|
Net change in unrealized appreciation (depreciation) |
(14,004,962 | ) | ||
|
|
|
|||
|
Net decrease in net assets resulting from operations |
(13,768,718 | ) | ||
|
|
|
|||
|
DISTRIBUTIONS TO SHAREHOLDERS(b) |
||||
|
Decrease in net assets resulting from distributions to shareholders |
— | |||
|
|
|
|||
|
CAPITAL SHARE TRANSACTIONS |
||||
|
Net increase in net assets derived from capital share transactions |
629,111,773 | |||
|
|
|
|||
|
NET ASSETS |
||||
|
Total increase in net assets |
615,343,055 | |||
|
Beginning of period |
— | |||
|
|
|
|||
|
End of period |
$ | 615,343,055 | ||
|
|
|
|||
| (a) |
Commencement of operations. |
| (b) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
| 64 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
(For a share outstanding throughout each period)
| iShares ESG Aware MSCI EAFE ETF | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
| Six Months Ended 02/28/22 (unaudited) |
Year Ended 08/31/21 |
Year Ended 08/31/20 |
Year Ended 08/31/19 |
Year Ended 08/31/18 |
Year Ended 08/31/17 |
|||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||
|
Net asset value, beginning of period |
$ | 80.85 | $ | 65.21 | $ | 62.01 | $ | 65.51 | $ | 64.28 | $ | 55.84 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Net investment income(a) |
0.54 | 1.84 | 1.53 | 2.12 | 2.16 | 1.87 | ||||||||||||||||||||||||||||||||||
|
Net realized and unrealized gain (loss)(b) |
(6.45 | ) | 15.47 | 2.85 | (3.92 | ) | 0.83 | 7.68 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Net increase (decrease) from investment operations |
(5.91 | ) | 17.31 | 4.38 | (1.80 | ) | 2.99 | 9.55 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Distributions(c) |
||||||||||||||||||||||||||||||||||||||||
|
From net investment income |
(1.12 | ) | (1.67 | ) | (1.18 | ) | (1.70 | ) | (1.76 | ) | (1.11 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Total distributions |
(1.12 | ) | (1.67 | ) | (1.18 | ) | (1.70 | ) | (1.76 | ) | (1.11 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Net asset value, end of period |
$ | 73.82 | $ | 80.85 | $ | 65.21 | $ | 62.01 | $ | 65.51 | $ | 64.28 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Total Return(d) |
||||||||||||||||||||||||||||||||||||||||
|
Based on net asset value |
(7.39 | )%(e) | 26.69 | % | 7.12 | % | (2.68 | )% | 4.64 | % | 17.16 | % | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Ratios to Average Net Assets(f) |
||||||||||||||||||||||||||||||||||||||||
|
Total expenses |
0.20 | %(g) | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | 0.38 | % | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Total expenses excluding professional fees for foreign withholding tax claims |
0.20 | %(g) | N/A | N/A | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Net investment income |
1.39 | %(g) | 2.45 | % | 2.47 | % | 3.39 | % | 3.22 | % | 3.10 | % | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Supplemental Data |
||||||||||||||||||||||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 7,300,584 | $ | 6,694,669 | $ | 3,025,519 | $ | 917,780 | $ | 360,309 | $ | 122,123 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Portfolio turnover rate(h) |
14 | %(e) | 25 | % | 30 | % | 26 | % | 24 | % | 9 | % | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
| (a) |
Based on average shares outstanding. |
| (b) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (c) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (d) |
Where applicable, assumes the reinvestment of distributions. |
| (e) |
Not annualized. |
| (f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (g) |
Annualized. |
| (h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
65 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares ESG Aware MSCI USA ETF | ||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
| Six Months Ended |
|
Period From | ||||||||||||||||||||||||||||||||||||
| 02/28/22 |
|
Year Ended | Year Ended | Year Ended | Year Ended | 12/01/16 | (a) | |||||||||||||||||||||||||||||||
| (unaudited) |
|
08/31/21 | 08/31/20 | 08/31/19 | 08/31/18 | to 08/31/17 | ||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
|
Net asset value, beginning of period |
$ | 103.69 | $ | 79.74 | $ | 64.33 | $ | 63.85 | $ | 54.15 | $ | 47.79 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Net investment income(b) |
0.64 | 1.18 | 1.22 | 1.17 | 1.09 | 0.71 | ||||||||||||||||||||||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(5.47 | ) | 23.87 | 15.13 | 0.40 | 9.52 | 6.22 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Net increase (decrease) from investment operations |
(4.83 | ) | 25.05 | 16.35 | 1.57 | 10.61 | 6.93 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Distributions(d) |
||||||||||||||||||||||||||||||||||||||
|
From net investment income |
(0.63 | ) | (1.10 | ) | (0.94 | ) | (1.09 | ) | (0.80 | ) | (0.57 | ) | ||||||||||||||||||||||||||
|
From net realized gain |
— | — | — | — | (0.11 | ) | — | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Total distributions |
(0.63 | ) | (1.10 | ) | (0.94 | ) | (1.09 | ) | (0.91 | ) | (0.57 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Net asset value, end of period |
$ | 98.23 | $ | 103.69 | $ | 79.74 | $ | 64.33 | $ | 63.85 | $ | 54.15 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Total Return(e) |
||||||||||||||||||||||||||||||||||||||
|
Based on net asset value |
(4.69 | )%(f) | 31.71 | % | 25.79 | % | 2.59 | % | 19.79 | % | 14.55 | %(f) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Ratios to Average Net Assets(g) |
||||||||||||||||||||||||||||||||||||||
|
Total expenses |
0.15 | %(h) | 0.15 | % | 0.15 | % | 0.15 | % | 0.15 | % | 0.27 | %(h) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Net investment income |
1.25 | %(h) | 1.30 | % | 1.76 | % | 1.88 | % | 1.83 | % | 1.85 | %(h) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Supplemental Data |
||||||||||||||||||||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 23,692,658 | $ | 22,262,630 | $ | 8,991,145 | $ | 295,905 | $ | 98,974 | $ | 10,830 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
Portfolio turnover rate(i) |
11 | %(f) | 21 | % | 38 | % | 27 | % | 28 | % | 22 | %(f) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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. |
See notes to financial statements.
| 66 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares ESG Aware MSCI USA Small-Cap ETF | ||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||
| Six Months Ended |
|
Period From |
| |||||||||||||||||||||||||||||
| 02/28/22 |
|
Year Ended | Year Ended |
|
Year Ended |
|
04/10/18 | (a) | ||||||||||||||||||||||||
| (unaudited) |
|
08/31/21 | 08/31/20 |
|
08/31/19 |
|
to 08/31/18 |
| ||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||
|
Net asset value, beginning of period |
$ | 40.26 | $ | 27.34 | $ | 26.21 | $ | 28.76 | $ | 25.47 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Net investment income(b) |
0.19 | 0.35 | 0.33 | 0.36 | 0.12 | |||||||||||||||||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(2.61 | ) | 12.95 | 1.10 | (2.58 | ) | 3.23 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Net increase (decrease) from investment operations |
(2.42 | ) | 13.30 | 1.43 | (2.22 | ) | 3.35 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Distributions(d) |
||||||||||||||||||||||||||||||||
|
From net investment income |
(0.21 | ) | (0.38 | ) | (0.30 | ) | (0.33 | ) | (0.06 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Total distributions |
(0.21 | ) | (0.38 | ) | (0.30 | ) | (0.33 | ) | (0.06 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Net asset value, end of period |
$ | 37.63 | $ | 40.26 | $ | 27.34 | $ | 26.21 | $ | 28.76 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Total Return(e) |
||||||||||||||||||||||||||||||||
|
Based on net asset value |
(6.02 | )%(f) | 48.95 | % | 5.57 | % | (7.69 | )% | 13.16 | %(f) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Ratios to Average Net Assets(g) |
||||||||||||||||||||||||||||||||
|
Total expenses |
0.17 | %(h) | 0.17 | % | 0.17 | % | 0.17 | % | 0.17 | %(h) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Net investment income |
0.96 | %(h) | 0.96 | % | 1.32 | % | 1.35 | % | 1.17 | %(h) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Supplemental Data |
||||||||||||||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 1,531,569 | $ | 1,099,038 | $ | 366,339 | $ | 57,664 | $ | 11,506 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Portfolio turnover rate(i) |
17 | %(f) | 33 | % | 50 | % | 34 | % | 15 | %(f) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
| (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. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
67 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares ESG MSCI EM Leaders ETF | ||||||||||||||||||||
|
|
||||||||||||||||||||
| Six Months Ended |
|
Period From |
| |||||||||||||||||
| 02/28/22 |
|
Year Ended | 02/05/20 | (a) | ||||||||||||||||
| (unaudited) |
|
08/31/21 | to 08/31/20 |
| ||||||||||||||||
|
|
||||||||||||||||||||
|
Net asset value, beginning of period |
$ | 63.49 | $ | 51.84 | $ | 51.43 | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Net investment income(b) |
0.42 | 1.01 | 0.79 | |||||||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(8.16 | ) | 11.67 | (0.03 | ) | |||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Net increase (decrease) from investment operations |
(7.74 | ) | 12.68 | 0.76 | ||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Distributions(d) |
||||||||||||||||||||
|
From net investment income |
(0.80 | ) | (1.03 | ) | (0.35 | ) | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Total distributions |
(0.80 | ) | (1.03 | ) | (0.35 | ) | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Net asset value, end of period |
$ | 54.95 | $ | 63.49 | $ | 51.84 | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Total Return(e) |
||||||||||||||||||||
|
Based on net asset value |
(12.30 | )%(f)(g) | 24.68 | % | 1.54 | %(g) | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Ratios to Average Net Assets(h) |
||||||||||||||||||||
|
Total expenses |
0.16 | %(i) | 0.16 | % | 0.16 | %(i) | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Net investment income |
1.37 | %(i) | 1.66 | % | 3.04 | %(i) | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Supplemental Data |
||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 71,435 | $ | 882,529 | $ | 647,969 | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Portfolio turnover rate(j) |
6 | %(g) | 34 | % | 19 | %(g) | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| (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 payments received from an affiliate, which impacted the Fund’s total return. Excluding payments, the Fund’s total return would have been -13.12%. |
| (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.
| 68 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
|
iShares ESG MSCI USA Leaders ETF |
||||||||||||||||||||
|
|
|
|||||||||||||||||||
| |
Six Months Ended 02/28/22 (unaudited) |
|
|
Year Ended 08/31/21 |
|
|
Year Ended 08/31/20 |
|
|
Period From 05/07/19 to 08/31/19 |
(a)
| |||||||||
|
|
||||||||||||||||||||
|
Net asset value, beginning of period |
$ | 79.65 | $ | 60.55 | $ | 50.77 | $ | 49.23 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net investment income(b) |
0.50 | 0.94 | 0.94 | 0.32 | ||||||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(3.17 | ) | 19.08 | 9.75 | 1.34 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) from investment operations |
(2.67 | ) | 20.02 | 10.69 | 1.66 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Distributions(d) |
||||||||||||||||||||
|
From net investment income |
(0.51 | ) | (0.92 | ) | (0.91 | ) | (0.12 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Total distributions |
(0.51 | ) | (0.92 | ) | (0.91 | ) | (0.12 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net asset value, end of period |
$ | 76.47 | $ | 79.65 | $ | 60.55 | $ | 50.77 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Total Return(e) |
||||||||||||||||||||
|
Based on net asset value |
(3.38 | )%(f) | 33.44 | % | 21.45 | % | 3.38 | %(f) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Ratios to Average Net Assets(g) |
||||||||||||||||||||
|
Total expenses |
0.10 | %(h) | 0.10 | % | 0.10 | % | 0.11 | %(h) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Total expenses after fees waived |
0.10 | %(h) | 0.10 | % | 0.10 | % | 0.10 | %(h) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net investment income |
1.26 | %(h) | 1.38 | % | 1.77 | % | 2.00 | %(h) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Supplemental Data |
||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 3,716,544 | $ | 4,077,962 | $ | 2,564,228 | $ | 1,579,065 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Portfolio turnover rate(i) |
1 | %(f) | 12 | % | 9 | % | 4 | %(f) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| (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. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
69 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares MSCI Global Sustainable Development Goals ETF | ||||||||||||||||||||||||||||||||||||||||||
| Six Months Ended 02/28/22 (unaudited) |
Year Ended 08/31/21 |
Year Ended 08/31/20 |
Year Ended 08/31/19 |
Year Ended 08/31/18 |
Year Ended 08/31/17 |
|||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Net asset value, beginning of period |
$ | 100.03 | $ | 81.68 | $ | 57.03 | $ | 58.35 | $ | 55.92 | $ | 49.61 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Net investment income(a) |
0.76 | 1.12 | 1.19 | 1.02 | 1.32 | 1.05 | ||||||||||||||||||||||||||||||||||||
|
Net realized and unrealized gain (loss)(b) |
(12.74 | ) | 18.09 | 24.32 | (1.29 | ) | 2.65 | 6.44 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Net increase (decrease) from investment operations |
(11.98 | ) | 19.21 | 25.51 | (0.27 | ) | 3.97 | 7.49 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Distributions(c) |
||||||||||||||||||||||||||||||||||||||||||
|
From net investment income |
(1.05 | ) | (0.86 | ) | (0.86 | ) | (1.05 | ) | (1.54 | ) | (1.18 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Total distributions |
(1.05 | ) | (0.86 | ) | (0.86 | ) | (1.05 | ) | (1.54 | ) | (1.18 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Net asset value, end of period |
$ | 87.00 | $ | 100.03 | $ | 81.68 | $ | 57.03 | $ | 58.35 | $ | 55.92 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Total Return(d) |
||||||||||||||||||||||||||||||||||||||||||
|
Based on net asset value |
(11.98 | )%(e) | 23.60 | % | 45.10 | % | (0.40 | )% | 7.16 | % | 15.27 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Ratios to Average Net Assets(f) |
||||||||||||||||||||||||||||||||||||||||||
|
Total expenses |
0.49 | %(g) | 0.49 | % | 0.49 | % | 0.49 | % | 0.49 | % | 0.49 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Net investment income |
1.67 | %(g) | 1.19 | % | 1.82 | % | 1.79 | % | 2.26 | % | 2.05 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Supplemental Data |
||||||||||||||||||||||||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 487,186 | $ | 565,145 | $ | 175,604 | $ | 54,174 | $ | 37,928 | $ | 25,164 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
Portfolio turnover rate(h) |
35 | %(e) | 70 | % | 47 | % | 43 | % | 36 | % | 32 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| (a) |
Based on average shares outstanding. |
| (b) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (c) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (d) |
Where applicable, assumes the reinvestment of distributions. |
| (e) |
Not annualized. |
| (f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (g) |
Annualized. |
| (h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
| 70 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| |
iShares Paris-Aligned Climate |
| ||||||
| MSCI USA ETF |
||||||||
| |
Period From |
| ||||||
| 02/08/22 | (a) | |||||||
| |
to 02/28/22 (unaudited) |
| ||||||
|
|
||||||||
|
Net asset value, beginning of period |
$ | 50.43 | ||||||
|
|
|
|||||||
|
Net investment income(b) |
0.04 | |||||||
|
Net realized and unrealized loss(c) |
(1.63 | ) | ||||||
|
|
|
|||||||
|
Net decrease from investment operations |
(1.59 | ) | ||||||
|
|
|
|||||||
|
Net asset value, end of period |
$ | 48.84 | ||||||
|
|
|
|||||||
|
Total Return(d) |
||||||||
|
Based on net asset value |
(3.16 | )%(e) | ||||||
|
|
|
|||||||
|
Ratios to Average Net Assets(f) |
||||||||
|
Total expenses |
0.15 | %(g) | ||||||
|
|
|
|||||||
|
Total expenses after fees waived |
0.10 | %(g) | ||||||
|
|
|
|||||||
|
Net investment income |
1.59 | %(g) | ||||||
|
|
|
|||||||
|
Supplemental Data |
||||||||
|
Net assets, end of period (000) |
$ | 615,343 | ||||||
|
|
|
|||||||
|
Portfolio turnover rate(h) |
1 | %(e) | ||||||
|
|
|
|||||||
| (a) |
Commencement of operations. |
| (b) |
Based on average shares outstanding. |
| (c) |
The amount reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (d) |
Where applicable, assumes the reinvestment of distributions. |
| (e) |
Not annualized. |
| (f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (g) |
Annualized. |
| (h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
71 |
Notes to Financial Statements (unaudited)
| 1. |
ORGANIZATION |
iShares Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.
These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):
| iShares ETF |
Diversification Classification |
|||
|
ESG Aware MSCI EAFE |
Diversified | |||
|
ESG Aware MSCI USA |
Diversified | |||
|
ESG Aware MSCI USA Small-Cap |
Diversified | |||
|
ESG MSCI EM Leaders |
Non-diversified | |||
|
ESG MSCI USA Leaders |
Non-diversified | |||
|
MSCI Global Sustainable Development Goals(a) |
Diversified | |||
|
Paris-Aligned Climate MSCI USA(b) |
Non-diversified | |||
| (a) |
Formerly the iShares MSCI Global Impact ETF. |
| (b) |
The Fund commenced operations on February 8, 2022. |
| 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. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain.
Foreign Currency Translation: Each Fund’s books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.
Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.
Foreign Taxes: The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as “Other foreign taxes”, and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of February 28, 2022, if any, are disclosed in the Statements of Assets and Liabilities.
The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction’s applicable laws, payment history and market convention. The Statements of Operations includes tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.
Segregation and Collateralization: In cases where a Fund enters into certain investments (e.g., futures contracts) that would be treated as “senior securities” for 1940 Act purposes, a Fund may segregate or designate on its books and record cash or liquid assets having a market value at least equal to the amount of its future obligations under such investments. Doing so allows the investment to be excluded from treatment as a “senior security.” Furthermore, 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 or obligations.
| 72 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
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.
| 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. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Trustees of the Trust (the “Board”). 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 a policy approved by the Board as reflecting fair value. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) is the committee formed by management to develop global pricing policies and procedures and to oversee the pricing function for all financial instruments.
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. |
| • |
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. |
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 Global Valuation Committee, in accordance with a policy approved by the Board as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Global 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 Global Valuation Committee, or its delegate, 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 Global Valuation Committee, or its delegate, deems relevant and consistent with the principles of fair value measurement. The pricing of all Fair Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis.
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 Global Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
73 |
Notes to Financial Statements (unaudited) (continued)
| 4. |
SECURITIES AND OTHER INVESTMENTS |
Securities Lending: Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.
As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, 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 |
|
Market Value of Securities on Loan |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received |
|
Net Amount | ||||||
|
|
||||||||||||||||
|
ESG Aware MSCI EAFE |
||||||||||||||||
|
BNP Paribas SA |
$ | 157,890 | $ | 149,989 | $ | — | $ | (7,901 | )(b) | |||||||
|
HSBC Bank PLC |
3,461,567 | 3,461,567 | — | — | ||||||||||||
|
J.P. Morgan Securities LLC |
2,921,984 | 2,780,049 | — | (141,935 | )(b) | |||||||||||
|
Morgan Stanley |
840,986 | 840,986 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 7,382,427 | $ | 7,232,591 | $ | — | $ | (149,836 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
ESG Aware MSCI USA |
||||||||||||||||
|
Barclays Bank PLC |
$ | 6,340,947 | $ | 6,340,947 | $ | — | $ | — | ||||||||
|
BNP Paribas SA |
34,519,429 | 34,519,429 | — | — | ||||||||||||
|
Citigroup Global Markets, Inc. |
94,242 | 94,242 | — | — | ||||||||||||
|
Credit Suisse Securities (USA) LLC |
6,581,456 | 6,520,780 | — | (60,676 | )(b) | |||||||||||
|
J.P. Morgan Securities LLC |
30,651,789 | 29,045,515 | — | (1,606,274 | )(b) | |||||||||||
|
Morgan Stanley |
374,648 | 374,068 | — | (580 | )(b) | |||||||||||
|
SG Americas Securities LLC |
19,868 | 19,868 | — | — | ||||||||||||
|
State Street Bank & Trust Co. |
7,940,979 | 7,884,754 | — | (56,225 | )(b) | |||||||||||
|
UBS AG |
2,483 | 2,368 | — | (115 | )(b) | |||||||||||
|
Wells Fargo Securities LLC |
48,886 | 46,526 | — | (2,360 | )(b) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 86,574,727 | $ | 84,848,497 | $ | — | $ | (1,726,230 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 74 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
|
|
||||||||||||||||
|
iShares ETF and Counterparty |
|
Market Value of Securities on Loan |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received |
|
Net Amount | ||||||
|
|
||||||||||||||||
|
ESG Aware MSCI USA Small-Cap |
||||||||||||||||
|
Barclays Capital, Inc. |
$ | 2,013,402 | $ | 2,013,402 | $ | — | $ | — | ||||||||
|
BofA Securities, Inc. |
1,851,440 | 1,814,904 | — | (36,536 | )(b) | |||||||||||
|
Citigroup Global Markets, Inc. |
7,367,439 | 7,367,439 | — | — | ||||||||||||
|
Credit Suisse Securities (USA) LLC |
137,063 | 137,063 | — | — | ||||||||||||
|
HSBC Bank PLC |
45,324 | 45,324 | — | — | ||||||||||||
|
ING Financial Markets LLC |
91,929 | 91,580 | — | (349 | )(b) | |||||||||||
|
Jefferies LLC |
1,398,738 | 1,373,343 | — | (25,395 | )(b) | |||||||||||
|
Morgan Stanley |
9,402,578 | 9,402,578 | — | — | ||||||||||||
|
National Financial Services LLC |
1,662,880 | 1,662,880 | — | — | ||||||||||||
|
Pershing LLC |
31,430 | 31,430 | — | — | ||||||||||||
|
Scotia Capital (USA), Inc. |
2,275,309 | 2,275,309 | — | — | ||||||||||||
|
State Street Bank & Trust Co. |
2,355,185 | 2,354,332 | — | (853 | )(b) | |||||||||||
|
Toronto Dominion Bank |
3,547,181 | 3,538,355 | — | (8,826 | )(b) | |||||||||||
|
UBS AG |
3,071,056 | 3,071,056 | — | — | ||||||||||||
|
UBS Securities LLC |
784,188 | 784,188 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 36,035,142 | $ | 35,963,183 | $ | — | $ | (71,959 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
ESG MSCI EM Leaders |
||||||||||||||||
|
Credit Suisse Securities (USA) LLC |
$ | 4,233 | $ | 3,652 | $ | — | $ | (581 | )(b) | |||||||
|
Morgan Stanley |
23,753 | 20,364 | — | (3,389 | )(b) | |||||||||||
|
UBS Securities LLC |
7,917 | 6,110 | — | (1,807 | )(b) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 35,903 | $ | 30,126 | $ | — | $ | (5,777 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
ESG MSCI USA Leaders |
||||||||||||||||
|
BNP Paribas SA |
$ | 7,539,398 | $ | 7,539,398 | $ | — | $ | — | ||||||||
|
BofA Securities, Inc. |
2,229,640 | 2,229,640 | — | — | ||||||||||||
|
Goldman Sachs & Co. LLC |
4,271,747 | 4,271,747 | — | — | ||||||||||||
|
J.P. Morgan Securities LLC |
5,700,813 | 5,656,790 | — | (44,023 | )(b) | |||||||||||
|
Jefferies LLC |
8,076 | 8,076 | — | — | ||||||||||||
|
Morgan Stanley |
64,865 | 64,865 | — | — | ||||||||||||
|
Wells Fargo Securities LLC |
233,911 | 233,911 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 20,048,450 | $ | 20,004,427 | $ | — | $ | (44,023 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
MSCI Global Sustainable Development Goals |
||||||||||||||||
|
J.P. Morgan Securities LLC |
$ | 260,869 | $ | 260,869 | $ | — | $ | — | ||||||||
|
Morgan Stanley |
8,742,777 | 8,742,777 | — | — | ||||||||||||
|
UBS AG |
6,059 | 6,059 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 9,009,705 | $ | 9,009,705 | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Paris-Aligned Climate MSCI USA |
||||||||||||||||
|
BofA Securities, Inc. |
$ | 2,809 | $ | 2,809 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Collateral received in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s statement of assets and liabilities. |
| (b) |
The market value of the loaned securities is determined as of February 28, 2022. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. |
The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, 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
|
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 |
75 |
Notes to Financial Statements (unaudited) (continued)
in an amount that varies depending on a contract’s size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.
Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.
| 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 Fund, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of each Fund as follows:
| iShares ETF | Investment Advisory Fee | |||
|
ESG Aware MSCI EAFE |
0.20 | % | ||
|
ESG Aware MSCI USA |
0.15 | |||
|
ESG Aware MSCI USA Small-Cap |
0.17 | |||
|
ESG MSCI EM Leaders |
0.16 | |||
|
ESG MSCI USA Leaders |
0.10 | |||
|
MSCI Global Sustainable Development Goals |
0.49 | |||
|
Paris-Aligned Climate MSCI USA |
0.15 | |||
Expense Waivers: The total of the investment advisory fee and any fund other expenses are a fund’s total annual operating expenses. For the iShares Paris-Aligned Climate MSCI USA ETF, BFA has contractually agreed to waive a portion of its management fee so that the Fund’s total annual fund operating expenses after the fee waiver will not exceed 0.10% through February 28, 2023.
This amount is included in investment advisory fees waived in the Statements of Operations. For the six months ended February 28, 2022, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:
| iShares ETF | Amounts waived | |||
|
Paris-Aligned Climate MSCI USA |
$ | 9,221 | ||
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 of the iShares ESG Aware MSCI USA ETF, iShares ESG Aware MSCI USA Small-Cap ETF, iShares ESG MSCI USA Leaders ETF and iShares Paris-Aligned Climate MSCI USA ETF (the “Group 1 Funds”), retains 81% 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.
| 76 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
Pursuant to the current securities lending agreement, each of the iShares ESG Aware MSCI EAFE ETF, iShares ESG MSCI EM Leaders ETF and iShares MSCI Global Sustainable Development Goals ETF (the “Group 2 Funds”), 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 a given calendar year exceeds a specified threshold: (1) each Group 1 Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 81% 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, and (2) each Group 2 Fund 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.
Prior to January 1, 2022, each Group 1 Fund retained 77% of securities lending income (which excludes collateral investment fees) and the amount retained was not less than 70% of the total of securities lending income plus the collateral investment fees. Each Group 2 Fund retained 82% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 the iShares ETF Complex in a calendar year exceeded a specified threshold: (1) each Group 1 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) each Group 2 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees.
The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the six months ended February 28, 2022, the Funds paid BTC the following amounts for securities lending agent services:
|
iShares ETF |
|
Fees Paid to BTC |
| |
|
ESG Aware MSCI EAFE |
$ | 27,399 | ||
|
ESG Aware MSCI USA |
43,094 | |||
|
ESG Aware MSCI USA Small-Cap |
41,411 | |||
|
ESG MSCI EM Leaders |
3,572 | |||
|
ESG MSCI USA Leaders |
4,894 | |||
|
MSCI Global Sustainable Development Goals |
164,587 | |||
Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.
Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.
For the six months ended February 28, 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) |
| |||||||
|
ESG Aware MSCI EAFE |
$ | 401,183,050 | $ | 335,522,436 | $ | (33,800,196 | ) | |||||
|
ESG Aware MSCI USA |
597,521,276 | 837,725,823 | (69,382,841 | ) | ||||||||
|
ESG Aware MSCI USA Small-Cap |
29,489,139 | 28,191,368 | (1,340,548 | ) | ||||||||
|
ESG MSCI EM Leaders |
5,152,439 | 1,398,736 | (309,463 | ) | ||||||||
|
ESG MSCI USA Leaders |
19,194,904 | 11,920,890 | (346,517 | ) | ||||||||
|
MSCI Global Sustainable Development Goals |
40,070,248 | 43,217,343 | (2,046,856 | ) | ||||||||
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.
As a result of certain taxes assessed to iShares ESG MSCI EM Leaders ETF in connection with a large redemption, BFA at its discretion made a voluntary contribution on January 11, 2022 to reimburse the Fund for such taxes. The Fund’s prior performance track record was adjusted from the redemption date of December 22, 2021 onward. The amount of the contribution is disclosed in the Statement of Operations as Payments by affiliate.
|
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 |
77 |
Notes to Financial Statements (unaudited) (continued)
| 7. |
PURCHASES AND SALES |
For the six months ended February 28, 2022, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:
| iShares ETF | Purchases | Sales | ||||||
|
ESG Aware MSCI EAFE |
$ | 1,123,720,154 | $ | 1,024,275,946 | ||||
|
ESG Aware MSCI USA |
2,581,415,342 | 2,593,412,041 | ||||||
|
ESG Aware MSCI USA Small-Cap |
232,482,796 | 222,799,718 | ||||||
|
ESG MSCI EM Leaders |
33,095,604 | 616,730,214 | ||||||
|
ESG MSCI USA Leaders |
40,213,157 | 43,038,587 | ||||||
|
MSCI Global Sustainable Development Goals |
206,907,599 | 187,725,377 | ||||||
|
Paris-Aligned Climate MSCI USA |
4,416,123 | 2,673,401 | ||||||
For the six months ended February 28, 2022, in-kind transactions were as follows:
| iShares ETF |
In-kind Purchases |
In-kind Sales |
||||||
|
ESG Aware MSCI EAFE |
$ | 1,162,112,488 | $ | — | ||||
|
ESG Aware MSCI USA |
5,255,021,645 | 2,471,942,357 | ||||||
|
ESG Aware MSCI USA Small-Cap |
587,985,602 | 76,534,521 | ||||||
|
ESG MSCI EM Leaders |
2,334,734 | 150,567,330 | ||||||
|
ESG MSCI USA Leaders |
410,112,259 | 630,827,656 | ||||||
|
MSCI Global Sustainable Development Goals |
22,454,679 | 40,132,447 | ||||||
|
Paris-Aligned Climate MSCI USA |
626,729,644 | — | ||||||
| 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 February 28, 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.
As of August 31, 2021, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:
| iShares ETF | Non-Expiring | |||
|
ESG Aware MSCI EAFE |
$ | 87,046,672 | ||
|
ESG Aware MSCI USA |
217,893,373 | |||
|
ESG Aware MSCI USA Small-Cap |
18,432,907 | |||
|
ESG MSCI EM Leaders |
6,867,953 | |||
|
ESG MSCI USA Leaders |
40,837,497 | |||
|
MSCI Global Sustainable Development Goals |
3,685,839 | |||
A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as “passive foreign investment companies.” Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.
As of February 28, 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) |
||||||||||||
|
ESG Aware MSCI EAFE |
$ | 6,670,671,679 | $ | 851,809,547 | $ | (256,635,787 | ) | $ | 595,173,760 | |||||||
|
ESG Aware MSCI USA |
21,210,289,571 | 3,193,762,487 | (607,757,595 | ) | 2,586,004,892 | |||||||||||
|
ESG Aware MSCI USA Small-Cap |
1,474,377,642 | 178,459,349 | (83,339,651 | ) | 95,119,698 | |||||||||||
|
ESG MSCI EM Leaders |
66,080,294 | 14,974,485 | (9,314,277 | ) | 5,660,208 | |||||||||||
|
ESG MSCI USA Leaders |
2,920,648,130 | 854,641,993 | (40,811,380 | ) | 813,830,613 | |||||||||||
|
MSCI Global Sustainable Development Goals |
504,852,115 | 27,382,104 | (34,961,641 | ) | (7,579,537 | ) | ||||||||||
|
Paris-Aligned Climate MSCI USA |
629,059,268 | 3,950,221 | (17,955,183 | ) | (14,004,962 | ) | ||||||||||
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2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
| 9. |
LINE OF CREDIT |
The iShares ESG MSCI EM Leaders ETF and iShares MSCI Global Sustainable Development Goals ETF, along with certain other iShares funds (“Participating Funds”), are parties to a $800 million credit agreement (“Syndicated Credit Agreement”) with a group of lenders, which expires on August 12, 2022. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.
For the six months ended February 28, 2022, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:
| iShares ETF |
Maximum Amount Borrowed |
Average Borrowing |
Weighted Average Interest Rates |
|||||||||
|
ESG MSCI EM Leaders |
$ | 960,000 | $ | 31,823 | 1.08 | % | ||||||
|
MSCI Global Sustainable Development Goals |
197,000 | 10,906 | 1.09 | |||||||||
| 10. |
PRINCIPAL RISKS |
In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund’s prospectus provides details of the risks to which the Fund is subject.
BFA uses 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: Investments in the securities of issuers domiciled in countries with emerging capital markets involve certain additional risks that do not generally apply to investments in securities of issuers in more developed capital markets, such as (i) low or nonexistent trading volume, resulting in a lack of liquidity and increased volatility in prices for such securities; (ii) uncertain national policies and social, political and economic instability, increasing the potential for expropriation of assets, confiscatory taxation, high rates of inflation or unfavorable diplomatic developments; (iii) lack of publicly available or reliable information about issuers as a result of not being subject to the same degree of regulatory requirements and accounting, auditing and financial reporting standards; and (iv) possible fluctuations in exchange rates, differing legal systems and the existence or possible imposition of exchange controls, custodial restrictions or other foreign or U.S. governmental laws or restrictions applicable to such investments.
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.
The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs.
|
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 |
79 |
Notes to Financial Statements (unaudited) (continued)
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 the Manager believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.
A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.
With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Funds.
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 Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds’ investments.
Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but could be significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.
Certain Funds invest a significant portion of their assets in securities of issuers located in Russia or with significant exposure to Russian issuers or countries. Russia launched a large-scale invasion of Ukraine on February 24, 2022. Governments in the U.S. and many other countries have imposed economic sanctions on certain Russian individuals and Russian corporate and banking entities. Jurisdictions have instituted broader sanctions on Russia, including banning Russia from global payments systems that facilitate cross-border payments. The extent and duration of the military action, resulting sanctions and resulting future market disruptions, including declines in Russia’s stock markets and the value of the ruble against the U.S. dollar, are impossible to predict, but could be significant. Any such disruptions caused by the Russian military action or any response to such activity from the international community may negatively impact Russia’s economy and Russian issuers of securities in which the Fund invests.
Certain Funds invest a significant portion of their assets in securities of issuers located in China or with significant exposure to Chinese issuers or countries. Investments in Chinese securities, including certain Hong Kong-listed securities, involves risks specific to China. China may be subject to considerable degrees of economic, political and social instability and demonstrates significantly higher volatility from time to time in comparison to developed markets. Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability. Internal social unrest or confrontations with other neighboring countries may disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation. Incidents involving China’s or the region’s security may cause uncertainty in Chinese markets and may adversely affect the Chinese economy and a fund’s investments. Reduction in spending on Chinese products and services, institution of tariffs or other trade barriers, or a downturn in any of the economies of China’s key trading partners may have an adverse impact on the Chinese economy. In addition, measures may be taken to limit the flow of capital and/or sanctions may be imposed, which could prohibit or restrict the ability to own or transfer fund assets and may also include retaliatory actions, such as seizure of fund assets.
| 80 |
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Notes to Financial Statements (unaudited) (continued)
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.
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.
| 11. |
CAPITAL SHARE TRANSACTIONS |
Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.
Transactions in capital shares were as follows:
|
|
||||||||||||||||
|
Six Months Ended 02/28/22 |
Year Ended 08/31/21 |
|||||||||||||||
|
|
|
|
|
|||||||||||||
| iShares ETF | Shares | Amount | Shares | Amount | ||||||||||||
|
|
||||||||||||||||
|
ESG Aware MSCI EAFE |
||||||||||||||||
|
Shares sold |
16,100,000 | $ | 1,280,423,560 | 36,700,000 | $ | 2,774,047,093 | ||||||||||
|
Shares redeemed |
— | — | (300,000 | ) | (22,212,443 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase |
16,100,000 | $ | 1,280,423,560 | 36,400,000 | $ | 2,751,834,650 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
ESG Aware MSCI USA |
||||||||||||||||
|
Shares sold |
50,850,000 | $ | 5,278,898,389 | 141,600,000 | $ | 12,751,408,984 | ||||||||||
|
Shares redeemed |
(24,350,000 | ) | (2,497,966,802 | ) | (39,650,000 | ) | (3,618,060,648 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase |
26,500,000 | $ | 2,780,931,587 | 101,950,000 | $ | 9,133,348,336 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
ESG Aware MSCI USA Small-Cap |
||||||||||||||||
|
Shares sold |
15,450,000 | $ | 604,324,659 | 18,850,000 | $ | 703,868,475 | ||||||||||
|
Shares redeemed |
(2,050,000 | ) | (79,523,085 | ) | (4,950,000 | ) | (175,001,921 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase |
13,400,000 | $ | 524,801,574 | 13,900,000 | $ | 528,866,554 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
ESG MSCI EM Leaders |
||||||||||||||||
|
Shares sold |
350,000 | $ | 25,549,181 | 2,150,000 | $ | 128,332,687 | ||||||||||
|
Shares redeemed |
(12,950,000 | ) | (752,065,046 | ) | (750,000 | ) | (46,572,591 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) |
(12,600,000 | ) | $ | (726,515,865 | ) | 1,400,000 | $ | 81,760,096 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
ESG MSCI USA Leaders |
||||||||||||||||
|
Shares sold |
5,200,000 | $ | 412,815,274 | 13,950,000 | $ | 981,902,059 | ||||||||||
|
Shares redeemed |
(7,800,000 | ) | (635,912,299 | ) | (5,100,000 | ) | (356,812,397 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) |
(2,600,000 | ) | $ | (223,097,025 | ) | 8,850,000 | $ | 625,089,662 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
MSCI Global Sustainable Development Goals |
||||||||||||||||
|
Shares sold |
450,000 | $ | 42,222,446 | 4,450,000 | $ | 414,947,808 | ||||||||||
|
Shares redeemed |
(500,000 | ) | (43,664,257 | ) | (950,000 | ) | (88,595,157 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) |
(50,000 | ) | $ | (1,441,811 | ) | 3,500,000 | $ | 326,352,651 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
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 |
81 |
Notes to Financial Statements (unaudited) (continued)
|
|
||||||||
| Period Ended 02/28/22 |
||||||||
| iShares ETF | Shares | Amount | ||||||
|
|
||||||||
|
Paris-Aligned Climate MSCI USA |
||||||||
|
Shares sold |
12,600,000 | $ | 629,111,773 | |||||
|
|
|
|
|
|||||
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.
| 12. |
FOREIGN WITHHOLDING TAX CLAIMS |
The Internal Revenue Service (“IRS”) has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which the iShares ESG Aware MSCI EAFE ETF is able to pass through to shareholders as a foreign tax credit in the current year, the iShares ESG Aware MSCI EAFE ETF will be able to offset the prior years’ withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Fund.
| 13. |
SUBSEQUENT EVENTS |
Management’s evaluation of the impact of all subsequent events on the Funds’ financial statements was completed through the date the financial statements were available to be issued and the following items were noted:
Effective March 31, 2022, BFA reduced the investment advisory fee for iShares Paris-Aligned Climate MSCI USA ETF from 0.15% to 0.10%. The contractual waiver was also terminated effective March 31, 2022 upon written agreement of the Trust and BFA.
| 82 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Board Review and Approval of Investment Advisory Contract
iShares Paris-Aligned Climate MSCI USA 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 Trustees who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required to consider and approve the proposed Investment Advisory Contract between the Trust and BFA (the “Advisory Contract”) on behalf of the Fund. The Independent Trustees requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the terms of the proposed Advisory Contract. At a meeting held on September 29 – October 1, 2021, the Board, including the Independent Board Members, approved the selection of BFA as investment adviser and approved the proposed Advisory Contract for the Fund, based on a review of qualitative and quantitative information provided by BFA. The Board also considered information previously provided by BFA, BlackRock Institutional Trust Company, N.A. (“BTC”), and BlackRock, Inc. (“BlackRock”), as applicable, at prior Board meetings. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Contract for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses of the Fund; (ii) the nature, extent and quality of the services to be provided by BFA; (iii) the costs of services to be provided to the Fund and the availability of information related to profits to be realized by BFA and its affiliates; (iv) potential economies of scale 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, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the Advisory Contract are discussed below.
Expenses of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable 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 further 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 overall fund expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the overall fund expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level of the Fund supported the Board’s approval of the Advisory Contract.
Nature, Extent and Quality of Services: The Board reviewed the scope of services to be provided by BFA under the Advisory Contract. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time and have made significant investments into the iShares business to support the iShares funds and their shareholders. The Board considered representations by BFA, BTC, and BlackRock that the scope and quality of services to be provided to the Fund would be similar to the scope and quality of services provided to other iShares funds. The Board also considered BFA’s compliance program and its compliance record with respect to other iShares funds. 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 relevant, and has provided information and made appropriate officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons who will be responsible for the day-to-day management of the Fund, as well as the resources that will be available to them in managing the Fund. The Board also considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, which were provided throughout the year with respect to other iShares funds.
Based on review of this information, the Board concluded that the nature, extent and quality of services to be provided to the Fund under the Advisory Contract supported the Board’s approval of the Advisory Contract.
Costs of Services to be Provided to the Fund and Profits to be Realized by BFA and Affiliates: The Board did not consider the profitability of the Fund to BFA based on the fees payable under the Advisory Contract or revenue to be received by BFA or its affiliates in connection with services to be provided to the Fund since the proposed relationship had not yet commenced. The Board noted that it expects to receive profitability information from BFA periodically following the Fund’s launch and will thus be in a position to evaluate whether any new or additional breakpoints or other adjustments in Fund fees would be appropriate.
Economies of Scale: The Board considered information that it had previously received regarding economies of scale, efficiencies and scale benefits shared with the iShares funds through relatively low fee rates established at inception, breakpoints and 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 Contract for the Fund did not provide for any breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.
This consideration of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the Advisory Contract.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board 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”), and acknowledged BFA’s assertion that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board further noted that BFA previously provided the Board with detailed information regarding how the Other Accounts (particularly institutional clients) generally differ from the iShares
|
B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T |
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Board Review and Approval of Investment Advisory Contract (continued)
funds, including in terms of the different and generally more extensive services provided to the iShares funds, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement.
Other Benefits to BFA and/or its Affiliates: Except as noted below, the Board did not consider the “fallout” benefits or ancillary revenue to be received by BFA and/or its affiliates in connection with the services to be provided to the Fund by BFA since the proposed relationship had not yet commenced. However, the Board 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 considered the potential payment of advisory fees and/or administration fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services and/or administration services. The Board also noted the potential revenue to be received by BFA and/or its affiliates pursuant to an agreement that would permit a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board also considered the potential for revenue to BTC, the Fund’s securities lending agent, and its affiliates in the event of any loaning of portfolio securities of the Fund. The Board further noted that any portfolio transactions on behalf of the Fund placed through a BFA affiliate or purchased from an underwriting syndicate in which a BFA affiliate participates (including associated commissions), will be reported to the Board pursuant to Rule 17e-1 or Rule 10f-3, as applicable, under the 1940 Act. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the Advisory Contract.
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 investment advisory fee rate under the Advisory Contract does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services to be rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the Advisory Contract.
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Statement Regarding Liquidity Risk Management Program (unaudited)
In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), iShares Trust (the “Trust”) has adopted and implemented a liquidity risk management program (the “Program”) for iShares ESG Aware MSCI EAFE ETF, iShares ESG Aware MSCI USA ETF, iShares ESG Aware MSCI USA Small-Cap ETF, iShares ESG MSCI EM Leaders ETF, iShares ESG MSCI USA Leaders ETF and iShares MSCI Global Sustainable Development Goals ETF (the “Funds” or “ETFs”), each a series of the Trust, which is reasonably designed to assess and manage each Fund’s liquidity risk.
The Board of Trustees (the “Board”) of the Trust, on behalf of the Funds, met on December 9, 2021 (the “Meeting”) to review the Program. The Board previously appointed BlackRock Fund Advisors (“BlackRock”), the investment adviser to the Funds, as the program administrator for each Fund’s Program. BlackRock also previously delegated oversight of the Program to the 40 Act Liquidity Risk Management Committee (the “Committee”). At the Meeting, the Committee, on behalf of BlackRock, provided the Board with a report that addressed the operation of the Program and assessed its adequacy and effectiveness of implementation, including the management of each Fund’s Highly Liquid Investment Minimum (“HLIM”) where applicable, and any material changes to the Program (the “Report”). The Report covered the period from October 1, 2020 through September 30, 2021 (the “Program Reporting Period”).
The Report described the Program’s liquidity classification methodology for categorizing each Fund’s investments (including derivative transactions) into one of four liquidity buckets. It also referenced the methodology used by BlackRock to establish each Fund’s HLIM and noted that the Committee reviews and ratifies the HLIM assigned to each Fund no less frequently than annually. The Report also discussed notable events affecting liquidity over the Program Reporting Period, including extended market holidays and the imposition of capital controls in certain non-U.S. countries.
The Report noted that the Program complied with the key factors for consideration under the Liquidity Rule for assessing, managing and periodically reviewing each Fund’s liquidity risk, as follows:
| a) |
The Fund’s investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions. During the Program Reporting Period, the Committee reviewed whether each Fund’s strategy is appropriate for an open-end fund structure, with a focus on funds with more significant and consistent holdings of less liquid and illiquid assets. The Committee also factored a fund’s concentration in an issuer into the liquidity classification methodology by taking issuer position sizes into account. Derivative exposure was also considered in the calculation of a fund’s liquidity bucketing. Finally, a factor for consideration under the Liquidity Rule is a Fund’s use of borrowings for investment purposes. However, the Funds do not borrow for investment purposes. |
| b) |
Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions. During the Program Reporting Period, the Committee reviewed historical redemption activity and used this information as a component to establish each ETF’s reasonably anticipated trading size (“RATS”). The Committee may also take into consideration a fund’s shareholder ownership concentration (which, depending on product type and distribution channel, may or may not be available), a fund’s distribution channels, and the degree of certainty associated with a fund’s short-term and long-term cash flow projections. |
| c) |
Holdings of cash and cash equivalents, as well as borrowing arrangements. The Committee considered that ETFs generally do not hold more than de minimis amounts of cash. While the ETFs generally do not engage in borrowing, certain of the ETFs have the flexibility to draw on a line of credit to meet redemption requests or facilitate settlements. |
| d) |
The relationship between an ETF’s portfolio liquidity and the way in which, and the prices and spreads at which, ETF shares trade, including the efficiency of the arbitrage function and the level of active participation by market participants, including authorized participants. The Committee monitored the prevailing bid/ask spread and the ETF price premium (or discount) to NAV for all ETFs and reviewed any persistent deviations from long-term averages. |
| e) |
The effect of the composition of baskets on the overall liquidity of an ETF’s portfolio. In reviewing the linkage between the composition of custom baskets accepted by an ETF and any significant change in the liquidity profile of such ETF, the Committee reviewed changes in the proportion of each ETF’s portfolio comprised of less liquid and illiquid holdings to determine if applicable thresholds were met requiring enhanced review. |
As part of BlackRock’s continuous review of the effectiveness of the Program, the Committee made the following material changes to the Program: (1) updates to certain model components in the Program’s methodology; and (2) certain iShares Funds entered into a $800 million credit agreement with a group of lenders that replaced a previous liquidity facility. The Report provided to the Board stated that the Committee concluded that based on the operation of the functions, as described in the Report, the Program is operating as intended and is effective in implementing the requirements of the Liquidity Rule.
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Supplemental Information (unaudited)
Regulation Regarding Derivatives
On October 28, 2020, the Securities and Exchange Commission (the “SEC”) adopted regulations governing the use of derivatives by registered investment companies (“Rule 18f-4”). The Funds will be required to implement and comply with Rule 18f-4 by August 19, 2022. Once implemented, Rule 18f-4 will impose limits on the amount of derivatives a fund can enter into, eliminate the asset segregation framework currently used by funds to comply with Section 18 of the 1940 Act, treat derivatives as senior securities and require funds whose use of derivatives is more than a limited specified exposure amount to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager.
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.
February 28, 2022
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Total Cumulative Distributions for the Fiscal Year-to-Date |
% Breakdown of the Total Cumulative Distributions for the Fiscal Year-to-Date |
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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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ESG Aware MSCI EAFE(a) |
$ | 0.997737 | $ | — | $ | 0.122782 | $ | 1.120519 | 89 | % | — | % | 11 | % | 100 | % | ||||||||||||||||||||
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ESG Aware MSCI USA(a) |
0.581823 | — | 0.045731 | 0.627554 | 93 | — | 7 | 100 | ||||||||||||||||||||||||||||
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ESG Aware MSCI USA Small-Cap(a) |
0.174253 | — | 0.040705 | 0.214958 | 81 | — | 19 | 100 | ||||||||||||||||||||||||||||
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ESG MSCI EM Leaders(a) |
0.560712 | — | 0.236592 | 0.797304 | 70 | — | 30 | 100 | ||||||||||||||||||||||||||||
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ESG MSCI USA Leaders(a) |
0.456415 | — | 0.049607 | 0.506022 | 90 | — | 10 | 100 | ||||||||||||||||||||||||||||
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MSCI Global Sustainable Development Goals(a) |
1.011940 | — | 0.042297 | 1.054237 | 96 | — | 4 | 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. |
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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. |
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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.
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Glossary of Terms Used in this Report
| Portfolio Abbreviations - Equity | ||
| ADR | American Depositary Receipt | |
| CPO | Certificates of Participation (Ordinary) | |
| GDR | Global Depositary Receipt | |
| JSC | Joint Stock Company | |
| NVDR | Non-Voting Depositary Receipt | |
| NVS | Non-Voting Shares | |
| PJSC | Public Joint Stock Company | |
| REIT | Real Estate Investment Trust | |
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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 MSCI Inc., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.
©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-SAR-817-0222
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