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|
JANUARY 31, 2022 |
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2022 Semi-Annual Report (Unaudited)
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iShares Trust
| · |
iShares MSCI Global Multifactor ETF | ACWF | NYSE Arca |
| · |
iShares MSCI Intl Multifactor ETF | INTF | NYSE Arca |
| · |
iShares MSCI Intl Small-Cap Multifactor ETF | ISCF | NYSE Arca |
| · |
iShares MSCI USA Mid-Cap Multifactor ETF | MIDF | NYSE Arca |
| · |
iShares MSCI USA Multifactor ETF | LRGF | NYSE Arca |
| · |
iShares MSCI USA Small-Cap Multifactor ETF | SMLF | NYSE Arca |
Dear Shareholder,
The 12-month reporting period as of January 31, 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. Continued growth meant that the U.S. economy regained and then surpassed its pre-pandemic output. However, rapid changes in consumer spending led to supply constraints and elevated inflation.
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 slightly, while large-capitalization U.S. stocks posted a strong advance. International equities from developed markets also gained, 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 significantly 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 positive returns for high-yield corporate bonds, outpacing the modest 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 late in 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 tone 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.
In this environment, 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 January 31, 2022
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|
6-Month
|
12-Month
| |||
|
U.S. large cap equities (S&P 500® Index) |
3.44% | 23.29% | ||
|
U.S. small cap equities (Russell 2000® Index) |
(8.41) | (1.21) | ||
|
International equities (MSCI Europe, Australasia, Far East Index) |
(3.43) | 7.03 | ||
|
Emerging market equities (MSCI Emerging Markets Index) |
(4.59) | (7.23) | ||
|
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) |
0.01 | 0.04 | ||
|
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) |
(3.87) | (4.43) | ||
|
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) |
(3.17) | (2.97) | ||
|
Tax-exempt municipal bonds (S&P Municipal Bond Index) |
(2.56) | (1.22) | ||
|
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) |
(1.55) | 2.05 | ||
|
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.
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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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| 10 | ||
| 10 | ||
| 11 | ||
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Financial Statements: |
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| 50 | ||
| 52 | ||
| 55 | ||
| 61 | ||
| 72 | ||
| 73 | ||
| 74 | ||
| 75 | ||
| 3 |
| Fund Summary as of January 31, 2022 | iShares® MSCI Global Multifactor ETF |
Investment Objective
The iShares MSCI Global Multifactor ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization developed and emerging market stocks that have favorable exposure to target style factors subject to constraints, as represented by the MSCI ACWI Diversified Multiple-Factor 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 |
(2.13 | )% | 11.33 | % | 10.66 | % | 7.84 | % | 11.33 | % | 65.94 | % | 66.67 | % | ||||||||||||||||||
|
Fund Market |
(2.07 | ) | 11.34 | 10.07 | 7.90 | 11.34 | 61.58 | 67.26 | ||||||||||||||||||||||||
|
Index |
(2.34 | ) | 11.43 | 10.75 | 8.04 | 11.43 | 66.60 | 68.63 | ||||||||||||||||||||||||
The inception date of the Fund was 4/28/15. The first day of secondary market trading was 4/30/15.
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 10 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 978.70 | $ 1.75 | $ 1,000.00 | $ 1,023.40 | $ 1.79 | 0.35 | % | |||||||||||||||||||||||
| (a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days) and divided by the number of days in the year (365 days). 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” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
| Sector | |
Percent of Total Investments |
(a) | |
|
Information Technology |
28.5 | % | ||
|
Consumer Discretionary |
12.7 | |||
|
Industrials |
12.6 | |||
|
Health Care |
11.9 | |||
|
Financials |
10.3 | |||
|
Materials |
8.3 | |||
|
Consumer Staples |
5.9 | |||
|
Communication Services |
4.2 | |||
|
Utilities |
1.9 | |||
|
Energy |
1.9 | |||
|
Real Estate |
1.8 | |||
| (a) |
Excludes money market funds. |
TEN LARGEST GEOGRAPHIC ALLOCATION
| Country/Geographic Region | |
Percent of Total Investments |
(a) | |
|
United States |
56.8 | % | ||
|
China |
7.6 | |||
|
Japan |
6.1 | |||
|
India |
4.4 | |||
|
Canada |
3.2 | |||
|
Australia |
3.2 | |||
|
Netherlands |
3.0 | |||
|
France |
2.4 | |||
|
Taiwan |
2.0 | |||
|
South Korea |
1.3 |
| 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 January 31, 2022 | iShares® MSCI Intl Multifactor ETF |
Investment Objective
The iShares MSCI Intl Multifactor ETF (the “Fund”) seeks to track the investment results of an index composed of global developed market large- and mid-capitalization stocks, excluding the U.S., that have favorable exposure to target style factors subject to constraints, as represented by the MSCI World ex USA Diversified Multiple-Factor 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 |
(4.67 | )% | 8.41 | % | 6.66 | % | 4.65 | % | 8.41 | % | 38.05 | % | 35.97 | % | ||||||||||||||||||
|
Fund Market |
(4.73 | ) | 8.76 | 6.60 | 4.65 | 8.76 | 37.67 | 36.03 | ||||||||||||||||||||||||
|
Index |
(5.21 | ) | 7.67 | 6.62 | 4.64 | 7.67 | 37.79 | 35.89 | ||||||||||||||||||||||||
The inception date of the Fund was 4/28/15. The first day of secondary market trading was 4/30/15.
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 10 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 953.30 | $ 1.48 | $ 1,000.00 | $ 1,023.70 | $ 1.53 | 0.30 | % | |||||||||||||||||||||||
| (a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days) and divided by the number of days in the year (365 days). 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” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
| Sector | |
Percent of Total Investments |
(a) | |
|
Industrials |
21.4 | % | ||
|
Financials |
15.0 | |||
|
Information Technology |
14.4 | |||
|
Consumer Discretionary |
10.2 | |||
|
Materials |
9.1 | |||
|
Health Care |
6.7 | |||
|
Consumer Staples |
6.7 | |||
|
Communication Services |
6.6 | |||
|
Real Estate |
4.5 | |||
|
Energy |
2.8 | |||
|
Utilities |
2.6 | |||
| (a) |
Excludes money market funds. |
TEN LARGEST GEOGRAPHIC ALLOCATION
| Country/Geographic Region | |
Percent of Total Investments |
(a) | |
|
Japan |
24.2 | % | ||
|
Canada |
14.1 | |||
|
Netherlands |
10.2 | |||
|
Australia |
9.2 | |||
|
France |
8.8 | |||
|
Hong Kong |
5.4 | |||
|
Germany |
5.1 | |||
|
Sweden |
4.4 | |||
|
United Kingdom |
4.1 | |||
|
Switzerland |
3.9 | |||
|
F U N D S U M M A R Y |
5 |
| Fund Summary as of January 31, 2022 | iShares® MSCI Intl Small-Cap Multifactor ETF |
Investment Objective
The iShares MSCI Intl Small-Cap Multifactor ETF (the “Fund”) seeks to track the investment results of an index composed of global developed market small-capitalization stocks, excluding the U.S., that have favorable exposure to target style factors subject to constraints, as represented by the MSCI World ex USA Small Cap Diversified Multiple-Factor 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 |
(5.17 | )% | 7.65 | % | 9.35 | % | 7.69 | % | 7.65 | % | 56.35 | % | 65.02 | % | ||||||||||||||||||
|
Fund Market |
(5.71 | ) | 7.54 | 9.39 | 7.67 | 7.54 | 56.67 | 64.88 | ||||||||||||||||||||||||
|
Index |
(5.63 | ) | 7.07 | 9.47 | 7.85 | 7.07 | 57.23 | 66.62 | ||||||||||||||||||||||||
The inception date of the Fund was 4/28/15. The first day of secondary market trading was 4/30/15.
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 10 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 948.30 | $ 1.96 | $ 1,000.00 | $ 1,023.20 | $ 2.04 | 0.40 | % | |||||||||||||||||||||||
| (a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days) and divided by the number of days in the year (365 days). 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” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
| Sector | |
Percent of Total Investments |
(a) | |
|
Industrials |
23.1 | % | ||
|
Consumer Discretionary |
13.2 | |||
|
Information Technology |
10.5 | |||
|
Financials |
10.0 | |||
|
Materials |
9.9 | |||
|
Health Care |
9.3 | |||
|
Energy |
7.9 | |||
|
Real Estate |
7.2 | |||
|
Communication Services |
3.7 | |||
|
Consumer Staples |
3.4 | |||
|
Utilities |
1.8 | |||
| (a) |
Excludes money market funds. |
TEN LARGEST GEOGRAPHIC ALLOCATION
| Country/Geographic Region | |
Percent of Total Investments |
(a) | |
|
Japan |
23.8 | % | ||
|
Canada |
15.3 | |||
|
United Kingdom |
11.6 | |||
|
Australia |
9.2 | |||
|
Switzerland |
7.5 | |||
|
Netherlands |
6.1 | |||
|
France |
4.3 | |||
|
Germany |
3.5 | |||
|
Sweden |
3.3 | |||
|
Hong Kong |
3.1 | |||
| 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 January 31, 2022 | iShares® MSCI USA Mid-Cap Multifactor ETF |
Investment Objective
The iShares MSCI USA Mid-Cap Multifactor ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. mid-capitalization stocks that have favorable exposure to target style factors subject to constraints, as represented by the MSCI USA Mid Cap Diversified Multiple-Factor 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 |
3.05 | % | 21.60 | % | 18.01 | % | 21.60 | % | 55.43 | % | ||||||||||||||
|
Fund Market |
2.92 | 21.21 | 17.97 | 21.21 | 55.27 | |||||||||||||||||||
|
Index |
2.87 | 21.38 | 18.14 | 21.38 | 55.68 | |||||||||||||||||||
The inception date of the Fund was 6/4/19. The first day of secondary market trading was 6/6/19.
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 10 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ 1,030.50 | $ 1.28 | $ 1,000.00 | $ 1,023.90 | $ 1.28 | 0.25 | % | |||||||||||||||||||||||
| (a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days) and divided by the number of days in the year (365 days). 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” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
| Sector | |
Percent of Total Investments |
(a) | |
|
Information Technology |
23.1 | % | ||
|
Consumer Discretionary |
14.8 | |||
|
Health Care |
14.1 | |||
|
Industrials |
11.8 | |||
|
Materials |
10.1 | |||
|
Financials |
8.6 | |||
|
Energy |
6.8 | |||
|
Communication Services |
4.7 | |||
|
Real Estate |
2.6 | |||
|
Consumer Staples |
1.7 | |||
|
Utilities |
1.7 | |||
| (a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
| Security | |
Percent of Total Investments |
(a) | |
|
Pioneer Natural Resources Co. |
2.2 | % | ||
|
Devon Energy Corp. |
1.8 | |||
|
Cerner Corp. |
1.8 | |||
|
CBRE Group Inc., Class A |
1.7 | |||
|
Cadence Design Systems Inc. |
1.6 | |||
|
Hewlett Packard Enterprise Co. |
1.5 | |||
|
Hartford Financial Services Group Inc. (The) |
1.5 | |||
|
Seagate Technology Holdings PLC |
1.5 | |||
|
Nucor Corp. |
1.5 | |||
|
Diamondback Energy Inc. |
1.5 | |||
|
F U N D S U M M A R Y |
7 |
| Fund Summary as of January 31, 2022 | iShares® MSCI USA Multifactor ETF |
Investment Objective
The iShares MSCI USA Multifactor ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. large-and mid-capitalization stocks that have favorable exposure to target style factors subject to constraints, as represented by the MSCI USA Diversified Multiple-Factor 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 |
1.06 | % | 17.26 | % | 12.08 | % | 10.52 | % | 17.26 | % | 76.85 | % | 96.76 | % | ||||||||||||||||||
|
Fund Market |
1.09 | 17.28 | 12.08 | 10.53 | 17.28 | 76.83 | 96.80 | |||||||||||||||||||||||||
|
Index |
1.15 | 17.51 | 12.30 | 10.78 | 17.51 | 78.61 | 99.65 | |||||||||||||||||||||||||
|
The inception date of the Fund was 4/28/15. The first day of secondary market trading was 4/30/15. |
|
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 10 for more information. |
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ | 1,010.60 | $ | 1.01 | $ | 1,000.00 | $ | 1,024.20 | $ | 1.02 | 0.20 | % | ||||||||||||||||||
| (a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days) and divided by the number of days in the year (365 days). 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” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
| Sector | |
Percent of Total Investments |
(a) | |
|
Information Technology |
30.7 | % | ||
|
Consumer Discretionary |
13.8 | |||
|
Health Care |
13.1 | |||
|
Industrials |
8.4 | |||
|
Real Estate |
6.1 | |||
|
Financials |
5.6 | |||
|
Communication Services |
5.4 | |||
|
Materials |
4.4 | |||
|
Utilities |
4.3 | |||
|
Consumer Staples |
4.2 | |||
|
Energy |
4.0 | |||
TEN LARGEST HOLDINGS
| Security | |
Percent of Total Investments |
(a) | |
|
Apple Inc. |
4.7 | % | ||
|
Microsoft Corp. |
3.5 | |||
|
Cisco Systems Inc. |
2.7 | |||
|
Intel Corp. |
2.5 | |||
|
Micron Technology Inc. |
2.2 | |||
|
Anthem Inc. |
2.2 | |||
|
Oracle Corp. |
2.1 | |||
|
Gilead Sciences Inc. |
2.1 | |||
|
Target Corp. |
2.1 | |||
|
Alphabet Inc., Class C |
2.0 | |||
| (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 January 31, 2022 | iShares® MSCI USA Small-Cap Multifactor ETF |
Investment Objective
The iShares MSCI USA Small-Cap Multifactor ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. small-capitalization stocks that have favorable exposure to target style factors subject to constraints, as represented by the MSCI USA Small Cap Diversified Multiple-Factor 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 |
(1.59 | )% | 14.07 | % | 9.94 | % | 10.09 | % | 14.07 | % | 60.59 | % | 91.61 | % | ||||||||||||||||||
|
Fund Market |
(1.76 | ) | 13.93 | 9.85 | 10.06 | 13.93 | 59.92 | 91.25 | ||||||||||||||||||||||||
|
Index |
(1.42 | ) | 14.47 | 10.30 | 10.48 | 14.47 | 63.27 | 96.08 | ||||||||||||||||||||||||
The inception date of the Fund was 4/28/15. The first day of secondary market trading was 4/30/15.
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 10 for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During |
|
|
Beginning Account Value (08/01/21) |
|
|
Ending Account Value (01/31/22) |
|
|
Expenses Paid During |
|
|
Annualized Expense Ratio |
| ||||||||||
| $ 1,000.00 | $ | 984.10 | $ | 1.50 | $ | 1,000.00 | $ | 1,023.70 | $ | 1.53 | 0.30 | % | ||||||||||||||||||
| (a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days) and divided by the number of days in the year (365 days). 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” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
| Sector | |
Percent of Total Investments |
(a) | |
|
Health Care |
17.5 | % | ||
|
Information Technology |
16.3 | |||
|
Consumer Discretionary |
15.4 | |||
|
Financials |
13.5 | |||
|
Industrials |
11.4 | |||
|
Energy |
10.0 | |||
|
Materials |
5.7 | |||
|
Real Estate |
4.7 | |||
|
Communication Services |
3.0 | |||
|
Consumer Staples |
2.5 | |||
|
Utilities |
0.0 | |||
| (a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
| Security | |
Percent of Total Investments |
(a) | |
|
Marathon Oil Corp. |
1.6 | % | ||
|
Jones Lang LaSalle Inc. |
1.3 | |||
|
Alcoa Corp. |
1.1 | |||
|
Williams-Sonoma Inc. |
1.1 | |||
|
Ciena Corp. |
1.1 | |||
|
Ovintiv Inc. |
1.1 | |||
|
Reliance Steel & Aluminum Co. |
1.0 | |||
|
United Therapeutics Corp. |
1.0 | |||
|
Concentrix Corp. |
0.9 | |||
|
Jabil Inc. |
0.9 | |||
|
F U N D S U M M A R Y |
9 |
| About Fund Performance |
Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.
Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined by 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 (or from the commencement of operations if less than 6 months) 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.
| 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 |
|
Schedule of Investments (unaudited) January 31, 2022 |
iShares® MSCI Global Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
|
||||||||
|
Common Stocks |
||||||||
| Australia — 3.1% | ||||||||
|
BlueScope Steel Ltd. |
12,558 | $ | 164,596 | |||||
|
Endeavour Group Ltd./Australia |
34,086 | 152,249 | ||||||
|
Evolution Mining Ltd. |
45,396 | 114,054 | ||||||
|
Fortescue Metals Group Ltd. |
35,490 | 498,354 | ||||||
|
GPT Group (The) |
53,742 | 190,443 | ||||||
|
James Hardie Industries PLC |
9,204 | 309,763 | ||||||
|
Medibank Pvt Ltd. |
74,468 | 163,180 | ||||||
|
Rio Tinto Ltd. |
7,956 | 632,547 | ||||||
|
Rio Tinto PLC |
23,712 | 1,671,348 | ||||||
|
Sonic Healthcare Ltd. |
8,892 | 239,464 | ||||||
|
South32 Ltd. |
98,514 | 271,041 | ||||||
|
Treasury Wine Estates Ltd. |
17,862 | 134,255 | ||||||
|
|
|
|||||||
| 4,541,294 | ||||||||
| Belgium — 0.1% | ||||||||
|
Sofina SA |
390 | 155,278 | ||||||
|
|
|
|||||||
| Brazil — 0.1% | ||||||||
|
Telefonica Brasil SA |
11,651 | 109,004 | ||||||
|
TIM SA |
26,910 | 67,248 | ||||||
|
|
|
|||||||
| 176,252 | ||||||||
| Canada — 3.2% | ||||||||
|
Canadian Apartment Properties REIT |
2,418 | 106,353 | ||||||
|
Canadian Tire Corp. Ltd., Class A, NVS |
702 | 101,356 | ||||||
|
CCL Industries Inc., Class B, NVS |
3,276 | 171,280 | ||||||
|
CGI Inc.(a) |
4,758 | 406,235 | ||||||
|
Constellation Software Inc. |
426 | 733,716 | ||||||
|
Empire Co. Ltd., Class A, NVS |
4,602 | 141,990 | ||||||
|
George Weston Ltd. |
1,487 | 162,159 | ||||||
|
iA Financial Corp. Inc. |
2,652 | 172,558 | ||||||
|
IGM Financial Inc. |
3,744 | 131,540 | ||||||
|
Kinross Gold Corp. |
27,300 | 147,544 | ||||||
|
Loblaw Companies Ltd. |
3,276 | 252,745 | ||||||
|
Magna International Inc. |
6,084 | 490,157 | ||||||
|
Nuvei Corp.(a)(b) |
1,716 | 104,581 | ||||||
|
TFI International Inc. |
1,950 | 187,690 | ||||||
|
Thomson Reuters Corp. |
3,744 | 401,924 | ||||||
|
Toromont Industries Ltd. |
2,028 | 171,171 | ||||||
|
Tourmaline Oil Corp. |
6,318 | 225,254 | ||||||
|
West Fraser Timber Co. Ltd. |
1,950 | 180,496 | ||||||
|
WSP Global Inc. |
2,574 | 343,227 | ||||||
|
|
|
|||||||
| 4,631,976 | ||||||||
| Chile — 0.1% | ||||||||
|
Cencosud SA |
48,594 | 89,508 | ||||||
|
|
|
|||||||
| China — 7.6% | ||||||||
|
360 DigiTech Inc. |
2,496 | 49,396 | ||||||
|
3SBio Inc.(a)(b) |
39,000 | 30,880 | ||||||
|
Aluminum Corp. of China Ltd., Class H(a) |
156,000 | 82,098 | ||||||
|
Anhui Conch Cement Co. Ltd., Class H |
39,000 | 206,292 | ||||||
|
Apeloa Pharmaceutical Co. Ltd., Class A |
13,650 | 60,697 | ||||||
|
AviChina Industry & Technology Co. Ltd., Class H |
78,000 | 44,019 | ||||||
|
Bank of China Ltd., Class H |
1,638,000 | 638,480 | ||||||
|
Bank of Communications Co. Ltd., Class H |
312,000 | 209,271 | ||||||
|
Baoshan Iron & Steel Co. Ltd., Class A |
46,800 | 52,142 | ||||||
|
Beijing Enterprises Water Group Ltd. |
468,000 | 182,539 | ||||||
|
BOC Aviation Ltd.(b) |
7,800 | 65,576 | ||||||
|
Bosideng International Holdings Ltd. |
156,000 | 76,040 | ||||||
|
CGN Power Co. Ltd., Class H(b) |
390,000 | 107,757 | ||||||
| Security | Shares | Value | ||||||
|
|
||||||||
| China (continued) | ||||||||
|
China Coal Energy Co. Ltd., Class H |
78,000 | $ | 43,654 | |||||
|
China Communications Services Corp. Ltd., Class H |
156,000 | 83,039 | ||||||
|
China Conch Venture Holdings Ltd. |
39,000 | 185,393 | ||||||
|
China Construction Bank Corp., Class H |
2,106,000 | 1,616,036 | ||||||
|
China Everbright Environment Group Ltd. |
156,000 | 115,884 | ||||||
|
China Lesso Group Holdings Ltd. |
78,000 | 135,603 | ||||||
|
China Longyuan Power Group Corp. Ltd., Class H |
78,000 | 159,142 | ||||||
|
China Medical System Holdings Ltd. |
78,000 | 130,613 | ||||||
|
China National Building Material Co. Ltd., Class H |
74,000 | 96,115 | ||||||
|
China Overseas Land & Investment Ltd. |
78,000 | 230,215 | ||||||
|
China Petroleum & Chemical Corp., Class H |
624,000 | 326,720 | ||||||
|
China Power International Development Ltd. |
78,000 | 38,603 | ||||||
|
China Railway Group Ltd., Class A |
70,200 | 68,892 | ||||||
|
China Railway Group Ltd., Class H |
156,000 | 96,296 | ||||||
|
China Renewable Energy Investment Ltd.(a)(c) |
659 | — | ||||||
|
China Resources Gas Group Ltd. |
22,000 | 110,042 | ||||||
|
China Shenhua Energy Co. Ltd., Class A |
15,600 | 55,619 | ||||||
|
China Shenhua Energy Co. Ltd., Class H |
78,000 | 191,853 | ||||||
|
China Taiping Insurance Holdings Co. Ltd. |
78,000 | 110,351 | ||||||
|
China Tower Corp. Ltd., Class H(b) |
1,404,000 | 169,601 | ||||||
|
CITIC Ltd. |
156,000 | 175,204 | ||||||
|
COSCO SHIPPING Holdings Co. Ltd., Class H(a) |
99,000 | 180,104 | ||||||
|
COSCO SHIPPING Ports Ltd. |
156,000 | 124,270 | ||||||
|
CRRC Corp. Ltd., Class H |
152,000 | 69,611 | ||||||
|
CSPC Pharmaceutical Group Ltd. |
156,000 | 189,601 | ||||||
|
ENN Energy Holdings Ltd. |
15,600 | 248,356 | ||||||
|
GF Securities Co. Ltd., Class H |
46,800 | 81,120 | ||||||
|
Guanghui Energy Co. Ltd., Class A(a) |
31,200 | 28,742 | ||||||
|
Hengan International Group Co. Ltd. |
39,000 | 190,644 | ||||||
|
Hopson Development Holdings Ltd. |
23,970 | 49,945 | ||||||
|
Huadian Power International Corp. Ltd., Class A |
54,600 | 35,967 | ||||||
|
Industrial & Commercial Bank of China Ltd., Class H |
1,170,000 | 708,839 | ||||||
|
Kingboard Holdings Ltd. |
21,000 | 101,382 | ||||||
|
Kingboard Laminates Holdings Ltd. |
39,000 | 66,887 | ||||||
|
Lenovo Group Ltd. |
156,000 | 169,058 | ||||||
|
Li Ning Co. Ltd. |
40,000 | 390,320 | ||||||
|
Nine Dragons Paper Holdings Ltd. |
78,000 | 77,912 | ||||||
|
PetroChina Co. Ltd., Class H |
312,000 | 154,718 | ||||||
|
PICC Property & Casualty Co. Ltd., Class H |
156,000 | 145,353 | ||||||
|
Postal Savings Bank of China Co. Ltd., Class H(b) |
234,000 | 194,957 | ||||||
|
Powerlong Real Estate Holdings Ltd. |
78,000 | 43,538 | ||||||
|
Shaanxi Coal Industry Co. Ltd., Class A |
39,000 | 77,459 | ||||||
|
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A |
7,800 | 37,578 | ||||||
|
Shandong Weigao Group Medical Polymer Co. Ltd., Class H |
93,600 | 115,352 | ||||||
|
Shanghai Baosight Software Co. Ltd., Class B |
23,400 | 108,354 | ||||||
|
Shanghai Medicilon Inc., Class A |
304 | 16,983 | ||||||
|
Sinopharm Group Co. Ltd., Class H |
31,200 | 69,788 | ||||||
|
Sinotrans Ltd., Class A |
54,600 | 35,164 | ||||||
|
Tibet Summit Resources Co. Ltd., Class-A |
7,800 | 35,537 | ||||||
|
Topsports International Holdings Ltd.(b) |
78,000 | 70,478 | ||||||
|
Uni-President China Holdings Ltd. |
78,000 | 73,720 | ||||||
|
Vipshop Holdings Ltd., ADR(a) |
12,090 | 112,558 | ||||||
|
Want Want China Holdings Ltd. |
156,000 | 153,054 | ||||||
|
Wharf Holdings Ltd. (The) |
33,000 | 112,780 | ||||||
|
Yankuang Energy Group Co. Ltd., Class A |
23,400 | 85,620 | ||||||
|
Yum China Holdings Inc. |
10,140 | 488,444 | ||||||
|
Zhuzhou Kibing Group Co. Ltd., Class A |
23,400 | 58,883 | ||||||
|
Zibo Qixiang Tengda Chemical Co. Ltd., Class-A |
23,400 | 34,262 | ||||||
|
|
|
|||||||
| 10,881,400 | ||||||||
|
S C H E D U L E O F I N V E S T M E N T S |
11 |
|
Schedule of Investments (unaudited) (continued) January 31, 2022 |
iShares® MSCI Global Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
|
||||||||
| Denmark — 0.8% | ||||||||
|
AP Moller - Maersk A/S, Class A |
78 | $ | 261,320 | |||||
|
AP Moller - Maersk A/S, Class B, NVS |
156 | 560,374 | ||||||
|
Pandora A/S |
1,931 | 209,977 | ||||||
|
Rockwool International A/S, Class B |
203 | 77,751 | ||||||
|
|
|
|||||||
| 1,109,422 | ||||||||
| Finland — 0.1% | ||||||||
|
Orion OYJ, Class B |
2,808 | 114,181 | ||||||
|
|
|
|||||||
| France — 2.4% | ||||||||
|
ArcelorMittal SA |
13,884 | 412,411 | ||||||
|
Arkema SA |
1,482 | 219,141 | ||||||
|
BioMerieux |
1,014 | 118,905 | ||||||
|
Bouygues SA |
5,538 | 195,309 | ||||||
|
Carrefour SA |
11,466 | 218,216 | ||||||
|
Cie. de Saint-Gobain |
10,452 | 707,260 | ||||||
|
Cie. Generale des Etablissements Michelin SCA |
3,744 | 626,460 | ||||||
|
Ipsen SA |
1,248 | 121,431 | ||||||
|
La Francaise des Jeux SAEM(b) |
2,730 | 113,032 | ||||||
|
Orange SA |
37,518 | 440,741 | ||||||
|
SEB SA |
624 | 94,704 | ||||||
|
Vivendi SE |
17,004 | 222,844 | ||||||
|
|
|
|||||||
| 3,490,454 | ||||||||
| Germany — 0.5% | ||||||||
|
Brenntag SE |
3,510 | 300,724 | ||||||
|
Covestro AG(b) |
3,344 | 200,616 | ||||||
|
GEA Group AG |
3,744 | 176,886 | ||||||
|
|
|
|||||||
| 678,226 | ||||||||
| Greece — 0.1% | ||||||||
|
FF Group(a)(c) |
165 | 2 | ||||||
|
Hellenic Telecommunications Organization SA |
5,624 | 109,316 | ||||||
|
Public Power Corp. SA(a) |
4,484 | 43,648 | ||||||
|
|
|
|||||||
| 152,966 | ||||||||
| Hong Kong — 1.2% | ||||||||
|
Chow Tai Fook Jewellery Group Ltd. |
62,400 | 109,635 | ||||||
|
CK Asset Holdings Ltd. |
51,500 | 343,783 | ||||||
|
CK Hutchison Holdings Ltd. |
53,000 | 376,688 | ||||||
|
Henderson Land Development Co. Ltd. |
15,000 | 65,598 | ||||||
|
Power Assets Holdings Ltd. |
39,000 | 239,640 | ||||||
|
Sino Land Co. Ltd. |
156,000 | 202,128 | ||||||
|
Swire Properties Ltd. |
46,800 | 124,756 | ||||||
|
WH Group Ltd.(b) |
195,000 | 130,457 | ||||||
|
Yuexiu Property Co. Ltd. |
87,800 | 89,213 | ||||||
|
|
|
|||||||
| 1,681,898 | ||||||||
| Hungary — 0.1% | ||||||||
|
Richter Gedeon Nyrt |
4,212 | 111,015 | ||||||
|
|
|
|||||||
| India — 4.4% | ||||||||
|
ACC Ltd. |
1,794 | 55,320 | ||||||
|
Adani Enterprises Ltd. |
5,850 | 135,579 | ||||||
|
Adani Total Gas Ltd. |
6,183 | 150,903 | ||||||
|
Ambuja Cements Ltd. |
17,238 | 84,862 | ||||||
|
Apollo Hospitals Enterprise Ltd. |
2,340 | 140,599 | ||||||
|
Balkrishna Industries Ltd. |
3,276 | 103,275 | ||||||
|
Bharat Electronics Ltd. |
36,036 | 102,014 | ||||||
|
Cipla Ltd. |
11,076 | 140,608 | ||||||
|
Colgate-Palmolive India Ltd. |
3,042 | 58,242 | ||||||
|
Container Corp. of India Ltd. |
13,260 | 115,697 | ||||||
|
Dr. Reddy’s Laboratories Ltd. |
2,574 | 148,803 | ||||||
|
Havells India Ltd. |
6,474 | 103,482 | ||||||
| Security | Shares | Value | ||||||
|
|
||||||||
| India (continued) | ||||||||
|
HCL Technologies Ltd. |
22,308 | $ | 331,068 | |||||
|
HDFC Asset Management Co. Ltd.(b) |
1,817 | 54,018 | ||||||
|
Hindalco Industries Ltd. |
34,788 | 230,618 | ||||||
|
Indus Towers Ltd. |
21,138 | 71,975 | ||||||
|
Infosys Ltd. |
70,044 | 1,647,974 | ||||||
|
Jubilant Foodworks Ltd. |
2,262 | 103,204 | ||||||
|
Larsen & Toubro Infotech Ltd.(b) |
1,248 | 105,623 | ||||||
|
Lupin Ltd. |
6,708 | 81,979 | ||||||
|
Marico Ltd. |
18,330 | 118,936 | ||||||
|
Mindtree Ltd. |
1,950 | 105,621 | ||||||
|
Mphasis Ltd. |
2,262 | 94,992 | ||||||
|
NTPC Ltd. |
108,030 | 207,169 | ||||||
|
Oil & Natural Gas Corp. Ltd. |
51,792 | 121,105 | ||||||
|
Page Industries Ltd. |
78 | 44,553 | ||||||
|
Petronet LNG Ltd. |
25,194 | 72,427 | ||||||
|
Power Grid Corp. of India Ltd. |
64,740 | 187,636 | ||||||
|
Siemens Ltd. |
1,950 | 61,130 | ||||||
|
SRF Ltd. |
3,120 | 100,918 | ||||||
|
Sun Pharmaceutical Industries Ltd. |
16,770 | 188,403 | ||||||
|
Tata Power Co. Ltd. (The) |
34,008 | 113,210 | ||||||
|
Tata Steel Ltd. |
13,962 | 205,877 | ||||||
|
Tech Mahindra Ltd. |
13,338 | 266,249 | ||||||
|
United Spirits Ltd.(a) |
6,630 | 77,438 | ||||||
|
Vedanta Ltd. |
27,300 | 119,085 | ||||||
|
Wipro Ltd. |
28,782 | 222,222 | ||||||
|
|
|
|||||||
| 6,272,814 | ||||||||
| Indonesia — 0.1% | ||||||||
|
Adaro Energy Tbk PT |
468,000 | 73,280 | ||||||
|
United Tractors Tbk PT |
54,600 | 88,280 | ||||||
|
|
|
|||||||
| 161,560 | ||||||||
| Ireland — 0.9% | ||||||||
|
Horizon Therapeutics PLC(a) |
4,602 | 429,505 | ||||||
|
Seagate Technology Holdings PLC |
4,290 | 459,673 | ||||||
|
STERIS PLC |
1,872 | 420,077 | ||||||
|
|
|
|||||||
| 1,309,255 | ||||||||
| Italy — 0.1% | ||||||||
|
DiaSorin SpA |
702 | 108,221 | ||||||
|
Telecom Italia SpA |
225,576 | 106,310 | ||||||
|
|
|
|||||||
| 214,531 | ||||||||
| Japan — 6.1% | ||||||||
|
AGC Inc. |
5,400 | 247,835 | ||||||
|
Azbil Corp. |
2,400 | 94,266 | ||||||
|
Bridgestone Corp. |
15,600 | 683,143 | ||||||
|
Brother Industries Ltd. |
7,800 | 143,645 | ||||||
|
Canon Inc. |
23,400 | 553,427 | ||||||
|
Chubu Electric Power Co. Inc. |
15,600 | 156,248 | ||||||
|
Dai Nippon Printing Co. Ltd. |
7,800 | 187,240 | ||||||
|
Daito Trust Construction Co. Ltd. |
1,200 | 137,600 | ||||||
|
FUJIFILM Holdings Corp. |
7,800 | 522,881 | ||||||
|
Fujitsu Ltd. |
3,900 | 515,573 | ||||||
|
Hino Motors Ltd. |
7,800 | 67,801 | ||||||
|
Iida Group Holdings Co. Ltd. |
7,800 | 162,276 | ||||||
|
Isuzu Motors Ltd. |
15,600 | 191,100 | ||||||
|
Kajima Corp. |
7,800 | 94,205 | ||||||
|
Kyowa Kirin Co. Ltd. |
7,800 | 194,413 | ||||||
|
Marubeni Corp. |
31,200 | 321,046 | ||||||
|
Mazda Motor Corp.(a) |
23,400 | 180,268 | ||||||
|
MEIJI Holdings Co. Ltd. |
2,000 | 124,763 | ||||||
|
Misumi Group Inc. |
7,800 | 253,047 | ||||||
| 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) January 31, 2022 |
iShares® MSCI Global Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Japan (continued) |
||||||||
|
Mitsui Chemicals Inc. |
7,800 | $ | 208,608 | |||||
|
NEC Corp. |
5,900 | 230,178 | ||||||
|
NGK Insulators Ltd. |
7,800 | 131,802 | ||||||
|
Nippon Telegraph & Telephone Corp. |
23,400 | 669,655 | ||||||
|
Nippon Yusen KK |
3,700 | 290,055 | ||||||
|
Oji Holdings Corp. |
23,400 | 124,560 | ||||||
|
Otsuka Holdings Co. Ltd. |
8,900 | 303,644 | ||||||
|
Ricoh Co. Ltd. |
7,800 | 65,866 | ||||||
|
SCSK Corp. |
7,800 | 131,987 | ||||||
|
Seiko Epson Corp. |
7,800 | 121,497 | ||||||
|
Sekisui Chemical Co. Ltd. |
7,800 | 136,375 | ||||||
|
Sekisui House Ltd. |
15,600 | 316,059 | ||||||
|
Shimizu Corp. |
15,600 | 103,872 | ||||||
|
Shizuoka Bank Ltd. (The) |
15,600 | 122,577 | ||||||
|
Sumitomo Dainippon Pharma Co. Ltd. |
7,800 | 84,897 | ||||||
|
Sumitomo Electric Industries Ltd. |
15,600 | 206,833 | ||||||
|
Tokyo Electric Power Co. Holdings Inc.(a) |
39,000 | 103,906 | ||||||
|
Tokyo Gas Co. Ltd. |
7,800 | 157,496 | ||||||
|
Toppan Inc. |
7,800 | 148,372 | ||||||
|
Tosoh Corp. |
7,800 | 122,043 | ||||||
|
Yamaha Motor Co. Ltd. |
7,800 | 185,745 | ||||||
|
|
|
|||||||
| 8,796,804 | ||||||||
| Kuwait — 0.1% | ||||||||
|
Mobile Telecommunications Co. KSCP |
69,264 | 136,883 | ||||||
|
|
|
|||||||
| Malaysia — 0.1% | ||||||||
|
Inari Amertron Bhd |
93,600 | 74,788 | ||||||
|
Telekom Malaysia Bhd |
46,800 | 56,578 | ||||||
|
|
|
|||||||
| 131,366 | ||||||||
| Netherlands — 3.0% | ||||||||
|
Aegon NV |
40,092 | 226,179 | ||||||
|
ASM International NV |
1,092 | 375,190 | ||||||
|
IMCD NV |
1,170 | 201,263 | ||||||
|
Koninklijke Ahold Delhaize NV |
22,386 | 725,857 | ||||||
|
Koninklijke KPN NV |
67,649 | 223,141 | ||||||
|
Koninklijke Philips NV |
13,104 | 435,882 | ||||||
|
NN Group NV |
4,446 | 248,808 | ||||||
|
NXP Semiconductors NV |
5,226 | 1,073,629 | ||||||
|
Randstad NV |
2,808 | 182,671 | ||||||
|
Wolters Kluwer NV |
5,616 | 571,588 | ||||||
|
|
|
|||||||
| 4,264,208 | ||||||||
| Norway — 0.3% | ||||||||
|
Norsk Hydro ASA |
27,567 | 211,861 | ||||||
|
Yara International ASA |
4,056 | 208,267 | ||||||
|
|
|
|||||||
| 420,128 | ||||||||
| Philippines — 0.1% | ||||||||
|
Globe Telecom Inc. |
780 | 47,577 | ||||||
|
PLDT Inc. |
2,340 | 84,190 | ||||||
|
|
|
|||||||
| 131,767 | ||||||||
| Poland — 0.2% | ||||||||
|
PGE Polska Grupa Energetyczna SA(a) |
28,002 | 52,751 | ||||||
|
Polski Koncern Naftowy ORLEN SA |
8,424 | 147,230 | ||||||
|
Polskie Gornictwo Naftowe i Gazownictwo SA |
47,214 | 61,657 | ||||||
|
|
|
|||||||
| 261,638 | ||||||||
| Qatar — 0.2% | ||||||||
|
Barwa Real Estate Co. |
45,527 | 41,827 | ||||||
|
Industries Qatar QSC |
26,442 | 121,628 | ||||||
|
Ooredoo QPSC |
34,886 | 69,317 | ||||||
| Security | Shares | Value | ||||||
|
Qatar (continued) |
||||||||
|
Qatar Electricity & Water Co. QSC |
18,720 | $ | 91,414 | |||||
|
|
|
|||||||
| 324,186 | ||||||||
| Russia — 0.2% | ||||||||
|
Alrosa PJSC |
64,740 | 95,239 | ||||||
|
PhosAgro PJSC, GDR(d) |
3,354 | 67,282 | ||||||
|
United Co. RUSAL International PJSC(a) |
76,440 | 72,025 | ||||||
|
|
|
|||||||
| 234,546 | ||||||||
| Saudi Arabia — 0.9% | ||||||||
|
Abdullah Al Othaim Markets Co. |
2,574 | 72,721 | ||||||
|
Advanced Petrochemical Co. |
4,524 | 90,764 | ||||||
|
Bupa Arabia for Cooperative Insurance Co. |
2,184 | 86,727 | ||||||
|
Etihad Etisalat Co. |
13,260 | 115,393 | ||||||
|
Jarir Marketing Co. |
1,716 | 92,342 | ||||||
|
Mouwasat Medical Services Co. |
1,404 | 74,222 | ||||||
|
SABIC Agri-Nutrients Co. |
4,680 | 212,180 | ||||||
|
Saudi Industrial Investment Group |
5,772 | 52,783 | ||||||
|
Saudi Telecom Co. |
12,558 | 395,088 | ||||||
|
Yanbu National Petrochemical Co. |
5,928 | 107,791 | ||||||
|
|
|
|||||||
| 1,300,011 | ||||||||
| Singapore — 0.3% | ||||||||
|
Singapore Exchange Ltd. |
15,800 | 109,364 | ||||||
|
Venture Corp. Ltd. |
15,600 | 204,387 | ||||||
|
Wilmar International Ltd. |
46,800 | 148,879 | ||||||
|
|
|
|||||||
| 462,630 | ||||||||
| South Africa — 0.2% | ||||||||
|
Aspen Pharmacare Holdings Ltd. |
8,846 | 119,090 | ||||||
|
Mr. Price Group Ltd. |
8,580 | 113,795 | ||||||
|
Tiger Brands Ltd. |
4,819 | 57,461 | ||||||
|
|
|
|||||||
| 290,346 | ||||||||
| South Korea — 1.3% | ||||||||
|
Coway Co. Ltd. |
1,482 | 85,381 | ||||||
|
DB Insurance Co. Ltd. |
1,404 | 70,326 | ||||||
|
E-MART Inc.(a) |
702 | 78,134 | ||||||
|
F&F Co. Ltd./New(a) |
78 | 53,818 | ||||||
|
Kia Corp. |
5,928 | 413,334 | ||||||
|
KT&G Corp.(a) |
2,808 | 181,385 | ||||||
|
LG Corp. |
1,950 | 120,591 | ||||||
|
LG Innotek Co. Ltd. |
390 | 117,253 | ||||||
|
POSCO |
1,560 | 348,962 | ||||||
|
Samsung Electro-Mechanics Co. Ltd. |
1,404 | 213,602 | ||||||
|
SD Biosensor Inc.(a) |
1,092 | 54,804 | ||||||
|
SK Telecom Co. Ltd. |
2,535 | 120,653 | ||||||
|
|
|
|||||||
| 1,858,243 | ||||||||
| Sweden — 0.3% | ||||||||
|
Getinge AB, Class B |
4,602 | 179,918 | ||||||
|
Husqvarna AB, Class B |
9,828 | 136,648 | ||||||
|
Kinnevik AB, Class B(a) |
5,538 | 165,523 | ||||||
|
|
|
|||||||
| 482,089 | ||||||||
| Switzerland — 1.0% | ||||||||
|
Bachem Holding AG, Class B, Registered |
156 | 93,056 | ||||||
|
Kuehne + Nagel International AG, Registered |
1,248 | 352,419 | ||||||
|
Logitech International SA, Registered |
3,432 | 288,389 | ||||||
|
Swatch Group AG (The), Bearer |
780 | 227,543 | ||||||
|
Swisscom AG, Registered |
447 | 255,494 | ||||||
|
VAT Group AG(b) |
624 | 254,472 | ||||||
|
|
|
|||||||
| 1,471,373 | ||||||||
| Taiwan — 2.0% | ||||||||
|
Acer Inc. |
156,000 | 161,784 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
13 |
|
Schedule of Investments (unaudited) (continued) January 31, 2022 |
iShares® MSCI Global Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Taiwan (continued) |
||||||||
|
Asustek Computer Inc. |
15,000 | $ | 196,102 | |||||
|
AU Optronics Corp. |
156,000 | 115,975 | ||||||
|
Cheng Shin Rubber Industry Co. Ltd. |
78,000 | 98,057 | ||||||
|
Compal Electronics Inc. |
78,000 | 71,330 | ||||||
|
Foxconn Technology Co. Ltd. |
78,000 | 171,823 | ||||||
|
Innolux Corp. |
234,000 | 146,978 | ||||||
|
Inventec Corp. |
156,000 | 143,092 | ||||||
|
Lite-On Technology Corp. |
78,000 | 180,149 | ||||||
|
Novatek Microelectronics Corp. |
13,000 | 228,621 | ||||||
|
Pegatron Corp. |
42,000 | 105,575 | ||||||
|
Pou Chen Corp. |
156,000 | 181,366 | ||||||
|
Quanta Computer Inc. |
78,000 | 264,006 | ||||||
|
United Microelectronics Corp. |
234,000 | 488,896 | ||||||
|
Wistron Corp. |
156,000 | 177,320 | ||||||
|
WPG Holdings Ltd. |
78,000 | 153,773 | ||||||
|
|
|
|||||||
| 2,884,847 | ||||||||
| Thailand — 0.1% | ||||||||
|
PTT Exploration & Production PCL, NVDR |
31,200 | 122,454 | ||||||
|
Ratch Group PCL, NVDR |
31,200 | 41,831 | ||||||
|
Thai Union Group PCL, NVDR |
78,000 | 49,056 | ||||||
|
|
|
|||||||
| 213,341 | ||||||||
| United Arab Emirates — 0.2% | ||||||||
|
Abu Dhabi National Oil Co. for Distribution PJSC |
59,124 | 66,479 | ||||||
|
Aldar Properties PJSC |
100,351 | 113,254 | ||||||
|
Emaar Properties PJSC |
71,994 | 95,931 | ||||||
|
|
|
|||||||
| 275,664 | ||||||||
| United Kingdom — 1.2% | ||||||||
|
BT Group PLC |
198,588 | 525,994 | ||||||
|
Evraz PLC |
13,104 | 89,024 | ||||||
|
Hikma Pharmaceuticals PLC |
4,758 | 133,667 | ||||||
|
Imperial Brands PLC |
17,940 | 425,355 | ||||||
|
J Sainsbury PLC |
41,496 | 163,060 | ||||||
|
Kingfisher PLC |
42,588 | 190,980 | ||||||
|
Pearson PLC |
12,246 | 102,247 | ||||||
|
Schroders PLC |
3,744 | 171,665 | ||||||
|
|
|
|||||||
| 1,801,992 | ||||||||
| United States — 56.7% | ||||||||
|
A O Smith Corp. |
2,808 | 214,587 | ||||||
|
ABIOMED Inc.(a) |
1,014 | 300,012 | ||||||
|
Advance Auto Parts Inc. |
1,482 | 343,098 | ||||||
|
Agilent Technologies Inc. |
6,552 | 912,825 | ||||||
|
Akamai Technologies Inc.(a) |
3,363 | 385,232 | ||||||
|
Allstate Corp. (The) |
6,240 | 752,981 | ||||||
|
Ally Financial Inc. |
8,112 | 387,105 | ||||||
|
Amazon.com Inc.(a) |
156 | 466,669 | ||||||
|
AMERCO |
234 | 142,494 | ||||||
|
American Financial Group Inc./OH |
1,326 | 172,751 | ||||||
|
Anthem Inc. |
5,226 | 2,304,614 | ||||||
|
Apple Inc. |
16,224 | 2,835,631 | ||||||
|
Archer-Daniels-Midland Co. |
11,934 | 895,050 | ||||||
|
Arrow Electronics Inc.(a) |
1,560 | 193,440 | ||||||
|
Bath & Body Works Inc. |
5,928 | 332,383 | ||||||
|
Bentley Systems Inc., Class B(e) |
4,212 | 169,196 | ||||||
|
Best Buy Co. Inc. |
4,914 | 487,862 | ||||||
|
Biogen Inc.(a) |
3,120 | 705,120 | ||||||
|
Bio-Rad Laboratories Inc., Class A(a) |
468 | 280,674 | ||||||
|
Bio-Techne Corp. |
780 | 293,600 | ||||||
|
BorgWarner Inc. |
5,148 | 225,740 | ||||||
|
Brown & Brown Inc. |
4,805 | 318,475 | ||||||
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Bunge Ltd. |
2,808 | $ | 277,599 | |||||
|
Cadence Design Systems Inc.(a) |
6,006 | 913,753 | ||||||
|
Camden Property Trust |
1,560 | 249,740 | ||||||
|
Capital One Financial Corp. |
9,594 | 1,407,728 | ||||||
|
Celanese Corp. |
2,418 | 376,507 | ||||||
|
Cerner Corp. |
6,162 | 561,974 | ||||||
|
CF Industries Holdings Inc. |
4,524 | 311,568 | ||||||
|
CH Robinson Worldwide Inc. |
2,730 | 285,694 | ||||||
|
Cincinnati Financial Corp. |
3,432 | 404,393 | ||||||
|
Cisco Systems Inc. |
64,506 | 3,591,049 | ||||||
|
Citrix Systems Inc. |
2,502 | 255,054 | ||||||
|
Cognex Corp. |
3,978 | 264,378 | ||||||
|
Cognizant Technology Solutions Corp., Class A |
11,232 | 959,437 | ||||||
|
Cooper Companies Inc. (The) |
1,014 | 403,876 | ||||||
|
Corteva Inc. |
15,912 | 765,049 | ||||||
|
DaVita Inc.(a) |
1,482 | 160,604 | ||||||
|
DENTSPLY SIRONA Inc. |
4,290 | 229,172 | ||||||
|
Devon Energy Corp. |
14,040 | 710,003 | ||||||
|
Discovery Inc., Class C, NVS(a)(e) |
10,842 | 296,529 | ||||||
|
Dover Corp. |
2,730 | 463,854 | ||||||
|
DR Horton Inc. |
7,332 | 654,161 | ||||||
|
eBay Inc. |
13,728 | 824,641 | ||||||
|
Electronic Arts Inc. |
5,850 | 776,061 | ||||||
|
EPAM Systems Inc.(a) |
1,248 | 594,223 | ||||||
|
Erie Indemnity Co., Class A, NVS |
546 | 100,519 | ||||||
|
Everest Re Group Ltd. |
780 | 221,052 | ||||||
|
Expeditors International of Washington Inc. |
3,900 | 446,472 | ||||||
|
F5 Inc.(a)(e) |
1,377 | 285,893 | ||||||
|
FactSet Research Systems Inc. |
780 | 329,074 | ||||||
|
Fastenal Co. |
12,012 | 680,840 | ||||||
|
Fidelity National Financial Inc. |
6,006 | 302,402 | ||||||
|
Fortinet Inc.(a) |
3,042 | 904,204 | ||||||
|
Fortune Brands Home & Security Inc. |
3,042 | 286,465 | ||||||
|
Fox Corp., Class A, NVS |
6,864 | 278,747 | ||||||
|
Fox Corp., Class B |
3,198 | 118,902 | ||||||
|
Franklin Resources Inc. |
6,552 | 209,467 | ||||||
|
Garmin Ltd. |
3,198 | 397,895 | ||||||
|
Generac Holdings Inc.(a) |
1,404 | 396,461 | ||||||
|
General Motors Co.(a) |
28,002 | 1,476,545 | ||||||
|
Genuine Parts Co. |
2,964 | 394,894 | ||||||
|
Globe Life Inc. |
2,496 | 255,341 | ||||||
|
Hartford Financial Services Group Inc. (The) |
7,410 | 532,557 | ||||||
|
HCA Healthcare Inc. |
5,460 | 1,310,673 | ||||||
|
Henry Schein Inc.(a) |
3,276 | 246,683 | ||||||
|
Hewlett Packard Enterprise Co. |
26,208 | 427,977 | ||||||
|
Hologic Inc.(a) |
5,460 | 383,510 | ||||||
|
HP Inc. |
25,584 | 939,700 | ||||||
|
Huntington Ingalls Industries Inc. |
469 | 87,797 | ||||||
|
IDEX Corp. |
1,560 | 336,086 | ||||||
|
Intel Corp. |
68,406 | 3,339,581 | ||||||
|
International Paper Co. |
8,034 | 387,640 | ||||||
|
Invesco Ltd. |
8,814 | 199,725 | ||||||
|
IPG Photonics Corp.(a) |
195 | 30,122 | ||||||
|
Jack Henry & Associates Inc. |
1,404 | 235,605 | ||||||
|
Jazz Pharmaceuticals PLC(a) |
936 | 130,020 | ||||||
|
JB Hunt Transport Services Inc. |
1,950 | 375,453 | ||||||
|
JM Smucker Co. (The) |
2,184 | 307,027 | ||||||
|
Johnson Controls International PLC |
14,742 | 1,071,301 | ||||||
|
Juniper Networks Inc. |
8,034 | 279,744 | ||||||
|
Keysight Technologies Inc.(a) |
3,900 | 658,398 | ||||||
| 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) January 31, 2022 |
iShares® MSCI Global Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Knight-Swift Transportation Holdings Inc. |
3,744 | $ | 211,836 | |||||
|
Kroger Co. (The) |
14,820 | 646,004 | ||||||
|
Laboratory Corp. of America Holdings(a) |
2,028 | 550,318 | ||||||
|
Lear Corp. |
1,248 | 208,815 | ||||||
|
Lennox International Inc. |
629 | 178,397 | ||||||
|
Liberty Global PLC, Class C, NVS(a) |
10,452 | 282,622 | ||||||
|
LKQ Corp. |
6,786 | 372,484 | ||||||
|
MarketAxess Holdings Inc. |
858 | 295,564 | ||||||
|
Masimo Corp.(a) |
1,092 | 240,098 | ||||||
|
Mettler-Toledo International Inc.(a) |
468 | 689,214 | ||||||
|
Micron Technology Inc. |
24,024 | 1,976,454 | ||||||
|
Microsoft Corp. |
6,318 | 1,964,772 | ||||||
|
Mid-America Apartment Communities Inc. |
780 | 161,210 | ||||||
|
Mohawk Industries Inc.(a) |
1,326 | 209,336 | ||||||
|
Molina Healthcare Inc.(a) |
1,275 | 370,362 | ||||||
|
Molson Coors Beverage Co., Class B |
4,524 | 215,614 | ||||||
|
Monolithic Power Systems Inc. |
1,014 | 408,571 | ||||||
|
Monster Beverage Corp.(a) |
8,502 | 737,293 | ||||||
|
Mosaic Co. (The) |
7,878 | 314,726 | ||||||
|
NetApp Inc. |
4,758 | 411,615 | ||||||
|
Newell Brands Inc. |
8,814 | 204,573 | ||||||
|
News Corp., Class A, NVS |
6,240 | 138,778 | ||||||
|
Nordson Corp. |
1,170 | 272,072 | ||||||
|
NRG Energy Inc. |
5,304 | 211,789 | ||||||
|
Nucor Corp. |
6,318 | 640,645 | ||||||
|
NVR Inc.(a) |
71 | 378,233 | ||||||
|
Old Dominion Freight Line Inc. |
2,340 | 706,516 | ||||||
|
ON Semiconductor Corp.(a) |
9,282 | 547,638 | ||||||
|
Owens Corning |
2,418 | 214,477 | ||||||
|
Packaging Corp. of America |
2,106 | 317,227 | ||||||
|
Paychex Inc. |
5,304 | 624,599 | ||||||
|
Pentair PLC |
3,666 | 233,524 | ||||||
|
Pool Corp. |
936 | 445,770 | ||||||
|
Public Storage |
668 | 239,498 | ||||||
|
PulteGroup Inc. |
5,772 | 304,127 | ||||||
|
Qorvo Inc.(a) |
2,496 | 342,651 | ||||||
|
Quest Diagnostics Inc. |
2,574 | 347,541 | ||||||
|
Raymond James Financial Inc. |
4,029 | 426,550 | ||||||
|
Regions Financial Corp. |
20,124 | 461,645 | ||||||
|
ResMed Inc. |
3,120 | 713,232 | ||||||
|
Robert Half International Inc. |
2,574 | 291,531 | ||||||
|
Rollins Inc. |
5,408 | 166,837 | ||||||
|
SEI Investments Co. |
3,666 | 214,864 | ||||||
|
Skyworks Solutions Inc. |
3,432 | 502,857 | ||||||
|
Snap-on Inc. |
1,170 | 243,652 | ||||||
|
State Street Corp. |
8,034 | 759,213 | ||||||
|
Steel Dynamics Inc. |
4,134 | 229,520 | ||||||
|
Sylvamo Corp.(a) |
696 | 20,734 | ||||||
|
Synchrony Financial |
11,700 | 498,303 | ||||||
|
Synopsys Inc.(a) |
3,276 | 1,017,198 | ||||||
|
T Rowe Price Group Inc. |
4,992 | 770,915 | ||||||
|
Target Corp. |
10,374 | 2,286,741 | ||||||
|
TE Connectivity Ltd. |
6,942 | 992,775 | ||||||
|
Teradyne Inc.(e) |
3,510 | 412,179 | ||||||
|
Texas Instruments Inc. |
7,176 | 1,288,020 | ||||||
|
Textron Inc. |
5,304 | 360,990 | ||||||
|
Tractor Supply Co. |
2,496 | 544,902 | ||||||
|
Tradeweb Markets Inc., Class A |
2,340 | 198,362 | ||||||
| Security | Shares | Value | ||||||
|
United States (continued) |
||||||||
|
Tyson Foods Inc., Class A |
6,318 | $ | 574,243 | |||||
|
UGI Corp. |
3,510 | 159,178 | ||||||
|
Ulta Beauty Inc.(a) |
1,092 | 397,204 | ||||||
|
United Rentals Inc.(a) |
1,482 | 474,418 | ||||||
|
Universal Health Services Inc., Class B |
1,716 | 223,183 | ||||||
|
Walgreens Boots Alliance Inc. |
15,444 | 768,493 | ||||||
|
Waters Corp.(a) |
1,326 | 424,479 | ||||||
|
West Pharmaceutical Services Inc. |
1,560 | 613,423 | ||||||
|
Western Digital Corp.(a) |
6,006 | 310,750 | ||||||
|
Western Union Co. (The) |
4,000 | 75,640 | ||||||
|
Whirlpool Corp. |
1,404 | 295,107 | ||||||
|
WW Grainger Inc. |
936 | 463,423 | ||||||
|
Zebra Technologies Corp., Class A(a) |
1,170 | 595,670 | ||||||
|
|
|
|||||||
| 81,612,552 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 99.4% |
|
143,126,644 | ||||||
|
|
|
|||||||
|
Preferred Stocks |
||||||||
| Germany — 0.3% | ||||||||
|
Fuchs Petrolub SE, Preference Shares, NVS |
2,047 | 88,462 | ||||||
|
Porsche Automobil Holding SE, Preference Shares, NVS |
3,588 | 336,012 | ||||||
|
|
|
|||||||
| 424,474 | ||||||||
| Russia — 0.1% | ||||||||
|
Surgutneftegas PJSC, Preference Shares, NVS |
157,100 | 75,823 | ||||||
|
|
|
|||||||
| Total Preferred Stocks — 0.4% (Cost: $492,985) |
500,297 | |||||||
|
|
|
|||||||
|
Short-Term Investments |
||||||||
| Money Market Funds — 0.6% | ||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%(f)(g)(h) |
868,776 | 869,037 | ||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(f)(g) |
50,000 | 50,000 | ||||||
|
|
|
|||||||
| 919,037 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 0.6% |
|
919,037 | ||||||
|
|
|
|||||||
|
Total
Investments in Securities — 100.4% |
|
144,545,978 | ||||||
|
Other Assets, Less Liabilities — (0.4)% |
|
(577,753 | ) | |||||
|
|
|
|||||||
|
Net Assets — 100.0% |
|
$ | 143,968,225 | |||||
|
|
|
|||||||
| (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) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (d) |
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
| (e) |
All or a portion of this security is on loan. |
| (f) |
Affiliate of the Fund. |
| (g) |
Annualized 7-day yield as of period end. |
| (h) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
|
S C H E D U L E O F I N V E S T M E N T S |
15 |
|
Schedule of Investments (unaudited) (continued) January 31, 2022 |
iShares® MSCI Global Multifactor ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||||||||
| Affiliated Issuer |
Value at 07/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 01/31/22 |
Shares Held at 01/31/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||
|
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$742,096 | $127,061 | (a) | $ | — | $ | (113 | ) | $ | (7 | ) | $869,037 | 868,776 | $ | 9,721 | (b) | $ | — | |||||||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
80,000 | — | (30,000) | (a) | — | — | 50,000 | 50,000 | 6 | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| $ | (113 | ) | $ | (7 | ) | $919,037 | $ | 9,727 | $ | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| (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 |
1 | 03/18/22 | $ | 112 | $ | 1,666 | ||||||||||
|
MSCI Emerging Markets Index |
2 | 03/18/22 | 122 | 4,583 | ||||||||||||
|
|
|
|||||||||||||||
| $ | 6,249 | |||||||||||||||
|
|
|
|||||||||||||||
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) |
$ | 6,249 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended January 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
|
Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | 10,413 | ||
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | 9,274 | ||
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$ | 313,595 | ||
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
| 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) January 31, 2022 |
iShares® MSCI Global Multifactor 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 |
$ | 90,748,576 | $ | 52,378,066 | $ | 2 | $ | 143,126,644 | ||||||||
|
Preferred Stocks |
— | 500,297 | — | 500,297 | ||||||||||||
|
Money Market Funds |
919,037 | — | — | 919,037 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 91,667,613 | $ | 52,878,363 | $ | 2 | $ | 144,545,978 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Futures Contracts |
$ | 6,249 | $ | — | $ | — | $ | 6,249 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (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 |
17 |
|
Schedule of Investments (unaudited) January 31, 2022 |
iShares® MSCI Intl Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
|
||||||||
|
Common Stocks |
||||||||
| Australia — 9.2% | ||||||||
|
Aurizon Holdings Ltd. |
894,220 | $ | 2,237,209 | |||||
|
BlueScope Steel Ltd. |
244,751 | 3,207,913 | ||||||
|
Brambles Ltd. |
700,420 | 4,811,918 | ||||||
|
Dexus |
522,513 | 3,803,849 | ||||||
|
Endeavour Group Ltd./Australia |
651,595 | 2,910,423 | ||||||
|
Evolution Mining Ltd. |
815,913 | 2,049,925 | ||||||
|
Fortescue Metals Group Ltd. |
822,674 | 11,552,072 | ||||||
|
GPT Group (The) |
930,594 | 3,297,703 | ||||||
|
Medibank Pvt Ltd. |
1,357,553 | 2,974,767 | ||||||
|
Rio Tinto Ltd. |
180,338 | 14,337,893 | ||||||
|
Rio Tinto PLC. |
262,096 | 18,473,920 | ||||||
|
Sonic Healthcare Ltd. |
220,712 | 5,943,841 | ||||||
|
South32 Ltd. |
1,243,155 | 3,420,288 | ||||||
|
Treasury Wine Estates Ltd. |
353,856 | 2,659,664 | ||||||
|
|
|
|||||||
| 81,681,385 | ||||||||
| Belgium — 1.9% | ||||||||
|
Etablissements Franz Colruyt NV |
26,309 | 1,068,664 | ||||||
|
Groupe Bruxelles Lambert SA |
46,389 | 4,977,674 | ||||||
|
Proximus SADP |
73,437 | 1,499,626 | ||||||
|
Sofina SA |
7,599 | 3,025,526 | ||||||
|
UCB SA |
61,419 | 6,111,511 | ||||||
|
|
|
|||||||
| 16,683,001 | ||||||||
| Canada — 14.0% | ||||||||
|
Canadian Apartment Properties REIT |
41,094 | 1,807,470 | ||||||
|
Canadian Tire Corp. Ltd., Class A, NVS |
27,877 | 4,024,911 | ||||||
|
CGI Inc.(a) |
106,389 | 9,083,427 | ||||||
|
Constellation Software Inc. |
9,780 | 16,844,466 | ||||||
|
Empire Co. Ltd., Class A, NVS |
82,174 | 2,535,393 | ||||||
|
Fairfax Financial Holdings Ltd. |
12,594 | 6,081,263 | ||||||
|
Hydro One Ltd.(b) |
159,839 | 4,129,420 | ||||||
|
iA Financial Corp. Inc. |
52,207 | 3,396,956 | ||||||
|
IGM Financial Inc. |
40,617 | 1,427,019 | ||||||
|
Kinross Gold Corp. |
613,052 | 3,313,273 | ||||||
|
Loblaw Companies Ltd. |
82,123 | 6,335,840 | ||||||
|
Magna International Inc. |
138,757 | 11,178,936 | ||||||
|
Manulife Financial Corp |
569,293 | 11,854,766 | ||||||
|
Nuvei Corp.(a)(b) |
27,627 | 1,683,722 | ||||||
|
Open Text Corp. |
132,019 | 6,318,716 | ||||||
|
RioCan REIT |
75,076 | 1,307,031 | ||||||
|
TFI International Inc. |
40,670 | 3,914,545 | ||||||
|
Thomson Reuters Corp. |
84,310 | 9,050,814 | ||||||
|
Toromont Industries Ltd. |
40,154 | 3,389,154 | ||||||
|
Tourmaline Oil Corp. |
150,520 | 5,366,453 | ||||||
|
West Fraser Timber Co. Ltd. |
46,405 | 4,295,333 | ||||||
|
WSP Global Inc. |
57,070 | 7,609,932 | ||||||
|
|
|
|||||||
| 124,948,840 | ||||||||
| Denmark — 2.8% | ||||||||
|
AP Moller - Maersk A/S, Class A |
1,526 | 5,112,487 | ||||||
|
AP Moller - Maersk A/S, Class B, NVS |
2,813 | 10,104,699 | ||||||
|
Coloplast A/S, Class B |
14,674 | 2,133,926 | ||||||
|
Novo Nordisk A/S, Class B |
8,267 | 822,304 | ||||||
|
Pandora A/S |
48,991 | 5,327,268 | ||||||
|
Rockwool International A/S, Class B |
4,067 | 1,557,702 | ||||||
|
|
|
|||||||
| 25,058,386 | ||||||||
| Finland — 0.2% | ||||||||
|
Orion OYJ, Class B |
51,557 | 2,096,447 | ||||||
|
|
|
|||||||
| Security | Shares | Value | ||||||
|
|
||||||||
| France — 8.8% | ||||||||
|
ArcelorMittal SA |
326,133 | $ | 9,687,464 | |||||
|
BioMerieux |
20,380 | 2,389,817 | ||||||
|
Bouygues SA |
111,095 | 3,917,993 | ||||||
|
Carrefour SA |
306,308 | 5,829,528 | ||||||
|
Cie. de Saint-Gobain |
245,783 | 16,631,513 | ||||||
|
Cie. Generale des Etablissements Michelin SCA |
31,447 | 5,261,832 | ||||||
|
Ipsen SA |
18,323 | 1,782,842 | ||||||
|
La Francaise des Jeux SAEM(b) |
46,394 | 1,920,879 | ||||||
|
Orange SA |
969,198 | 11,385,608 | ||||||
|
Societe Generale SA |
393,842 | 14,619,546 | ||||||
|
Vivendi SE |
376,884 | 4,939,203 | ||||||
|
|
|
|||||||
| 78,366,225 | ||||||||
| Germany — 4.1% | ||||||||
|
Brenntag SE |
75,057 | 6,430,603 | ||||||
|
Daimler AG, Registered |
224,699 | 17,929,570 | ||||||
|
Daimler Truck Holding AG(a) |
112,349 | 3,960,737 | ||||||
|
GEA Group AG |
46,684 | 2,205,592 | ||||||
|
HelloFresh SE(a) |
75,417 | 5,021,318 | ||||||
|
Telefonica Deutschland Holding AG |
505,767 | 1,451,941 | ||||||
|
|
|
|||||||
| 36,999,761 | ||||||||
| Hong Kong — 5.4% | ||||||||
|
Chow Tai Fook Jewellery Group Ltd. |
971,600 | 1,707,075 | ||||||
|
CK Asset Holdings Ltd. |
973,500 | 6,498,509 | ||||||
|
CK Hutchison Holdings Ltd. |
1,307,000 | 9,289,273 | ||||||
|
Hang Lung Properties Ltd. |
984,000 | 2,102,518 | ||||||
|
Henderson Land Development Co. Ltd. |
706,000 | 3,087,475 | ||||||
|
HKT Trust & HKT Ltd., Class SS |
1,872,000 | 2,554,522 | ||||||
|
Power Assets Holdings Ltd. |
674,000 | 4,141,465 | ||||||
|
Sino Land Co. Ltd. |
1,626,000 | 2,106,798 | ||||||
|
SITC International Holdings Co. Ltd |
658,000 | 2,508,019 | ||||||
|
Sun Hung Kai Properties Ltd. |
633,500 | 7,729,021 | ||||||
|
Swire Properties Ltd. |
568,400 | 1,515,196 | ||||||
|
WH Group Ltd.(b) |
4,089,500 | 2,735,915 | ||||||
|
Xinyi Glass Holdings Ltd.(c) |
884,000 | 2,343,453 | ||||||
|
|
|
|||||||
| 48,319,239 | ||||||||
| Italy — 0.5% | ||||||||
|
DiaSorin SpA |
12,231 | 1,885,547 | ||||||
|
Telecom Italia SpA |
4,840,619 | 2,281,285 | ||||||
|
|
|
|||||||
| 4,166,832 | ||||||||
| Japan — 24.1% | ||||||||
|
AGC Inc. |
93,900 | 4,309,577 | ||||||
|
Aisin Corp. |
71,600 | 2,600,009 | ||||||
|
Azbil Corp. |
60,000 | 2,356,662 | ||||||
|
Benefit One Inc. |
38,900 | 1,183,078 | ||||||
|
Brother Industries Ltd. |
114,600 | 2,110,481 | ||||||
|
Canon Inc. |
486,000 | 11,494,253 | ||||||
|
Chiba Bank Ltd. (The) |
255,900 | 1,654,309 | ||||||
|
Chubu Electric Power Co. Inc. |
313,000 | 3,134,977 | ||||||
|
Concordia Financial Group Ltd. |
528,900 | 2,173,437 | ||||||
|
Cosmos Pharmaceutical Corp. |
9,700 | 1,211,382 | ||||||
|
Dai Nippon Printing Co. Ltd. |
107,900 | 2,590,153 | ||||||
|
Daito Trust Construction Co. Ltd. |
31,800 | 3,646,396 | ||||||
|
ENEOS Holdings Inc. |
1,408,300 | 5,608,731 | ||||||
|
FUJIFILM Holdings Corp. |
175,000 | 11,731,299 | ||||||
|
Fujitsu Ltd. |
95,500 | 12,624,939 | ||||||
|
Hino Motors Ltd. |
138,200 | 1,201,291 | ||||||
|
Hirose Electric Co. Ltd. |
15,800 | 2,355,112 | ||||||
|
Hitachi Ltd. |
103,700 | 5,389,912 | ||||||
|
Iida Group Holdings Co. Ltd |
71,500 | 1,487,530 | ||||||
| 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) (continued) January 31, 2022 |
iShares® MSCI Intl Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
|
||||||||
| Japan (continued) | ||||||||
|
Inpex Corp. |
497,300 | $ | 5,027,450 | |||||
|
Isuzu Motors Ltd. |
35,900 | 439,775 | ||||||
|
Kajima Corp. |
218,300 | 2,636,541 | ||||||
|
Kakaku.com Inc. |
65,300 | 1,352,465 | ||||||
|
Kurita Water Industries Ltd. |
48,000 | 1,951,848 | ||||||
|
Kyowa Kirin Co. Ltd. |
131,200 | 3,270,132 | ||||||
|
Marubeni Corp. |
760,100 | 7,821,382 | ||||||
|
Medipal Holdings Corp. |
89,100 | 1,603,359 | ||||||
|
MEIJI Holdings Co. Ltd. |
59,300 | 3,699,228 | ||||||
|
Mitsubishi HC Capital Inc. |
320,700 | 1,656,313 | ||||||
|
NEC Corp. |
119,300 | 4,654,286 | ||||||
|
NGK Insulators Ltd. |
125,200 | 2,115,595 | ||||||
|
Nippon Express Holdings Co., NVS |
37,700 | 2,234,243 | ||||||
|
Nippon Telegraph & Telephone Corp. |
625,400 | 17,897,530 | ||||||
|
Nippon Yusen KK |
78,500 | 6,153,875 | ||||||
|
Obayashi Corp. |
315,500 | 2,556,227 | ||||||
|
ORIX Corp. |
593,400 | 12,240,135 | ||||||
|
Otsuka Holdings Co. Ltd. |
189,700 | 6,472,054 | ||||||
|
Pola Orbis Holdings Inc. |
44,000 | 655,792 | ||||||
|
Ricoh Co. Ltd. |
325,700 | 2,750,345 | ||||||
|
Rinnai Corp. |
17,600 | 1,571,768 | ||||||
|
Rohm Co. Ltd. |
42,500 | 3,580,077 | ||||||
|
SCSK Corp. |
75,100 | 1,270,801 | ||||||
|
Seiko Epson Corp. |
137,300 | 2,138,653 | ||||||
|
Sekisui Chemical Co. Ltd. |
185,800 | 3,248,525 | ||||||
|
Shimizu Corp. |
268,100 | 1,785,125 | ||||||
|
Shizuoka Bank Ltd. (The) |
220,900 | 1,735,715 | ||||||
|
Stanley Electric Co. Ltd. |
63,200 | 1,477,259 | ||||||
|
Sumitomo Dainippon Pharma Co. Ltd. |
86,400 | 940,398 | ||||||
|
Sumitomo Electric Industries Ltd. |
366,400 | 4,857,912 | ||||||
|
T&D Holdings Inc. |
261,400 | 3,863,048 | ||||||
|
Taisei Corp. |
94,000 | 3,081,419 | ||||||
|
Taisho Pharmaceutical Holdings Co. Ltd. |
19,000 | 933,131 | ||||||
|
TIS Inc. |
109,200 | 2,872,032 | ||||||
|
Tokyo Electric Power Co. Holdings Inc.(a) |
741,700 | 1,976,074 | ||||||
|
Tokyo Gas Co. Ltd. |
182,400 | 3,682,973 | ||||||
|
Toppan Inc. |
129,700 | 2,467,158 | ||||||
|
Tosoh Corp. |
126,300 | 1,976,152 | ||||||
|
Toyo Suisan Kaisha Ltd. |
43,100 | 1,765,926 | ||||||
|
Yamaha Motor Co. Ltd. |
144,600 | 3,443,433 | ||||||
|
|
|
|||||||
| 214,719,682 | ||||||||
| Netherlands — 10.2% | ||||||||
|
Aegon NV |
868,263 | 4,898,300 | ||||||
|
ASM International NV |
22,883 | 7,862,149 | ||||||
|
IMCD NV |
27,685 | 4,762,370 | ||||||
|
Koninklijke Ahold Delhaize NV |
508,017 | 16,472,248 | ||||||
|
Koninklijke KPN NV |
1,633,405 | 5,387,797 | ||||||
|
Koninklijke Philips NV |
445,676 | 14,824,648 | ||||||
|
NN Group NV |
131,262 | 7,345,701 | ||||||
|
Randstad NV |
58,089 | 3,778,902 | ||||||
|
STMicroelectronics NV |
255,915 | 12,033,310 | ||||||
|
Wolters Kluwer NV |
129,960 | 13,227,145 | ||||||
|
|
|
|||||||
| 90,592,570 | ||||||||
| Norway — 0.6% | ||||||||
|
Norsk Hydro ASA |
653,332 | 5,021,059 | ||||||
|
|
|
|||||||
| Singapore — 2.8% | ||||||||
|
Mapletree Commercial Trust |
1,075,400 | 1,439,439 | ||||||
|
Oversea-Chinese Banking Corp. Ltd. |
1,644,900 | 15,311,161 | ||||||
|
Singapore Exchange Ltd.(c) |
382,200 | 2,645,500 | ||||||
| Security | Shares | Value | ||||||
|
|
||||||||
| Singapore (continued) | ||||||||
|
UOL Group Ltd.(c) |
224,200 | $ | 1,215,830 | |||||
|
Venture Corp. Ltd. |
134,500 | 1,762,184 | ||||||
|
Wilmar International Ltd. |
947,100 | 3,012,898 | ||||||
|
|
|
|||||||
| 25,387,012 | ||||||||
| Spain — 1.7% | ||||||||
|
Enagas SA |
84,513 | 1,827,345 | ||||||
|
Red Electrica Corp. SA |
205,097 | 4,134,390 | ||||||
|
Repsol SA |
711,426 | 9,040,519 | ||||||
|
|
|
|||||||
| 15,002,254 | ||||||||
| Sweden — 4.3% | ||||||||
|
Electrolux AB, Class B |
110,917 | 2,307,870 | ||||||
|
Getinge AB, Class B |
111,121 | 4,344,339 | ||||||
|
Husqvarna AB, Class B |
203,272 | 2,826,287 | ||||||
|
Industrivarden AB, Class A |
55,075 | 1,741,026 | ||||||
|
Investor AB, Class B |
865,940 | 18,801,225 | ||||||
|
Kinnevik AB, Class B(a) |
117,639 | 3,516,067 | ||||||
|
Securitas AB, Class B |
101,067 | 1,220,712 | ||||||
|
SKF AB, Class B |
185,685 | 4,070,610 | ||||||
|
|
|
|||||||
| 38,828,136 | ||||||||
| Switzerland — 3.9% | ||||||||
|
Adecco Group AG, Registered |
5,763 | 274,510 | ||||||
|
Bachem Holding AG, Class B, Registered |
3,011 | 1,796,095 | ||||||
|
Kuehne + Nagel International AG, Registered |
26,398 | 7,454,451 | ||||||
|
Logitech International SA, Registered |
84,096 | 7,066,547 | ||||||
|
Swatch Group AG (The), Bearer |
14,057 | 4,100,738 | ||||||
|
Swatch Group AG (The), Registered |
25,560 | 1,434,812 | ||||||
|
Swisscom AG, Registered |
12,583 | 7,192,127 | ||||||
|
VAT Group AG(b) |
13,117 | 5,349,209 | ||||||
|
|
|
|||||||
| 34,668,489 | ||||||||
| United Kingdom — 4.1% | ||||||||
|
Abrdn PLC |
1,059,403 | 3,464,656 | ||||||
|
Aviva PLC |
132,437 | 781,908 | ||||||
|
Evraz PLC |
248,023 | 1,684,973 | ||||||
|
Ferguson PLC |
28,520 | 4,485,923 | ||||||
|
Hikma Pharmaceuticals PLC |
85,273 | 2,395,587 | ||||||
|
J Sainsbury PLC |
849,536 | 3,338,291 | ||||||
|
Kingfisher PLC |
1,025,777 | 4,599,948 | ||||||
|
Pearson PLC |
372,900 | 3,113,508 | ||||||
|
Persimmon PLC |
155,020 | 5,050,472 | ||||||
|
Sage Group PLC (The) |
511,893 | 5,002,205 | ||||||
|
Schroders PLC |
61,371 | 2,813,909 | ||||||
|
|
|
|||||||
| 36,731,380 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 98.6% |
879,270,698 | |||||||
|
|
|
|||||||
|
Preferred Stocks |
||||||||
| Germany — 1.0% | ||||||||
|
Fuchs Petrolub SE, Preference Shares, NVS |
33,557 | 1,450,171 | ||||||
|
Porsche Automobil Holding SE, Preference Shares, NVS |
74,389 | 6,966,450 | ||||||
|
|
|
|||||||
| 8,416,621 | ||||||||
|
|
|
|||||||
|
Total
Preferred Stocks — 1.0% |
8,416,621 | |||||||
|
|
|
|||||||
|
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) January 31, 2022 |
iShares® MSCI Intl Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
|
||||||||
|
Short-Term Investments |
||||||||
| Money Market Funds — 0.2% | ||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%(d)(e)(f) |
1,742,380 | $ | 1,742,903 | |||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e) |
310,000 | 310,000 | ||||||
|
|
|
|||||||
| 2,052,903 | ||||||||
|
|
|
|||||||
|
Total
Short-Term Investments — 0.2% |
2,052,903 | |||||||
|
|
|
|||||||
|
Total
Investments in Securities — 99.8% |
889,740,222 | |||||||
|
Other Assets, Less Liabilities — 0.2% |
1,679,001 | |||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 891,419,223 | ||||||
|
|
|
|||||||
| (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 January 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||||||
| Affiliated Issuer |
Value at 07/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 01/31/22 |
Shares Held at 01/31/22 |
Income |
Capital Gain Distributions from Underlying Funds |
| ||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 45,025 | $ | 1,698,110 | (a) | $ | — | $ | (138 | ) | $ | (94 | ) | $ | 1,742,903 | 1,742,380 | $ | 167,996 | (b) | $ | — | |||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
300,000 | 10,000 | (a) | — | — | — | 310,000 | 310,000 | 12 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| $ | (138 | ) | $ | (94 | ) | $ | 2,052,903 | $ | 168,008 | $ | — | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| (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 |
||||||||||||||||
|
TOPIX Index |
5 | 03/10/22 | $ | 833 | $ | (13,977 | ) | |||||||||
|
SPI 200 Index |
5 | 03/17/22 | 610 | (30,692 | ) | |||||||||||
|
Euro STOXX 50 Index |
28 | 03/18/22 | 1,316 | 22,931 | ||||||||||||
|
FTSE 100 Index |
8 | 03/18/22 | 802 | 25,819 | ||||||||||||
|
|
|
|||||||||||||||
| $ | 4,081 | |||||||||||||||
|
|
|
|||||||||||||||
| 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) January 31, 2022 |
iShares® MSCI Intl Multifactor ETF |
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Assets — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized appreciation on futures contracts(a) |
$ | 48,750 | ||
|
|
|
|||
|
Liabilities — Derivative Financial Instruments |
||||
|
Futures contracts |
||||
|
Unrealized depreciation on futures contracts(a) |
$ | 44,669 | ||
|
|
|
|||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended January 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
|
||||
| Equity Contracts |
||||
|
|
||||
|
Net Realized Gain (Loss) from: |
||||
|
Futures contracts |
$ | 114,698 | ||
|
|
|
|||
|
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
|
Futures contracts |
$ | 33,024 | ||
|
|
|
|||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts: |
||||
|
Average notional value of contracts — long |
$ | 5,461,985 | ||
|
|
||||
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 |
$ | 131,012,095 | $ | 748,258,603 | $ | — | $ | 879,270,698 | ||||||||
|
Preferred Stocks |
— | 8,416,621 | — | 8,416,621 | ||||||||||||
|
Money Market Funds |
2,052,903 | — | — | 2,052,903 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 133,064,998 | $ | 756,675,224 | $ | — | $ | 889,740,222 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative financial instruments(a) |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Futures Contracts |
$ | — | $ | 48,750 | $ | — | $ | 48,750 | ||||||||
|
Liabilities |
||||||||||||||||
|
Futures Contracts |
— | (44,669 | ) | — | (44,669 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | — | $ | 4,081 | $ | — | $ | 4,081 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (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 |
21 |
|
Schedule of Investments (unaudited) January 31, 2022 |
iShares® MSCI Intl Small-Cap Multifactor ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
| Australia — 9.1% | ||||||||
|
Abacus Property Group |
144,130 | $ | 352,232 | |||||
|
Accent Group Ltd. |
106,266 | 152,888 | ||||||
|
Ansell Ltd. |
37,700 | 716,750 | ||||||
|
ARB Corp. Ltd. |
22,040 | 726,195 | ||||||
|
Arena REIT |
100,630 | 335,420 | ||||||
|
AUB Group Ltd. |
21,866 | 361,097 | ||||||
|
Aussie Broadband Ltd.(a) |
28,714 | 86,314 | ||||||
|
Austal Ltd. |
97,616 | 139,241 | ||||||
|
Australian Ethical Investment Ltd. |
25,346 | 167,165 | ||||||
|
Australian Pharmaceutical Industries Ltd. |
118,880 | 127,762 | ||||||
|
Aventus Group(b) |
99,064 | 226,923 | ||||||
|
Bravura Solutions Ltd. |
74,608 | 114,450 | ||||||
|
BWP Trust |
141,462 | 398,990 | ||||||
|
Champion Iron Ltd.(a) |
96,280 | 444,815 | ||||||
|
Codan Ltd./Australia |
30,034 | 193,421 | ||||||
|
CSR Ltd. |
143,028 | 569,762 | ||||||
|
Emeco Holdings Ltd. |
106,026 | 67,372 | ||||||
|
GDI Property Group(b) |
153,352 | 112,016 | ||||||
|
GrainCorp Ltd., Class A |
67,048 | 346,355 | ||||||
|
Growthpoint Properties Australia Ltd. |
91,060 | 254,451 | ||||||
|
GWA Group Ltd. |
63,374 | 113,650 | ||||||
|
Hansen Technologies Ltd. |
48,236 | 167,363 | ||||||
|
Harvey Norman Holdings Ltd. |
165,068 | 575,319 | ||||||
|
Healius Ltd. |
149,756 | 474,061 | ||||||
|
HUB24 Ltd. |
16,530 | 322,106 | ||||||
|
Imdex Ltd. |
119,538 | 250,079 | ||||||
|
Integral Diagnostics Ltd. |
51,060 | 149,604 | ||||||
|
JB Hi-Fi Ltd. |
33,872 | 1,108,270 | ||||||
|
Johns Lyng Group Ltd. |
41,700 | 228,178 | ||||||
|
Jumbo Interactive Ltd. |
15,498 | 197,117 | ||||||
|
McMillan Shakespeare Ltd. |
20,604 | 164,300 | ||||||
|
Mineral Resources Ltd. |
41,644 | 1,654,972 | ||||||
|
New Hope Corp. Ltd. |
138,104 | 222,472 | ||||||
|
nib holdings Ltd. |
136,706 | 603,160 | ||||||
|
Nick Scali Ltd. |
20,764 | 200,372 | ||||||
|
Objective Corp. Ltd. |
6,788 | 77,258 | ||||||
|
Pendal Group Ltd. |
101,384 | 348,195 | ||||||
|
Perenti Global Ltd. |
180,574 | 98,911 | ||||||
|
Perseus Mining Ltd. |
369,170 | 385,874 | ||||||
|
Pinnacle Investment Management Group Ltd. |
28,768 | 232,206 | ||||||
|
Platinum Asset Management Ltd. |
118,610 | 208,518 | ||||||
|
Premier Investments Ltd. |
25,810 | 529,564 | ||||||
|
Pro Medicus Ltd. |
14,036 | 453,278 | ||||||
|
Ramelius Resources Ltd. |
235,828 | 226,031 | ||||||
|
Rural Funds Group(b) |
104,342 | 211,182 | ||||||
|
Sandfire Resources Ltd. |
114,840 | 551,850 | ||||||