|
OCTOBER 31, 2021 |
2021 Annual Report |
iShares Trust
· |
iShares iBonds Dec 2021 Term Muni Bond ETF | IBMJ | NYSE Arca |
· |
iShares iBonds Dec 2022 Term Muni Bond ETF | IBMK | NYSE Arca |
· |
iShares iBonds Dec 2023 Term Muni Bond ETF | IBML | Cboe BZX |
· |
iShares iBonds Dec 2024 Term Muni Bond ETF | IBMM | Cboe BZX |
· |
iShares iBonds Dec 2025 Term Muni Bond ETF | IBMN | Cboe BZX |
· |
iShares iBonds Dec 2026 Term Muni Bond ETF | IBMO | Cboe BZX |
· |
iShares iBonds Dec 2027 Term Muni Bond ETF | IBMP | Cboe BZX |
· |
iShares iBonds Dec 2028 Term Muni Bond ETF | IBMQ | Cboe BZX |
Dear Shareholder,
The 12-month reporting period as of October 31, 2021 was a remarkable period of adaptation and recovery, as the global economy dealt with the implications of the coronavirus (or “COVID-19”) pandemic. The United States began the reporting period as the initial reopening-led economic rebound was beginning to slow. Nonetheless, the economy continued to grow at a solid pace for the reporting period, eventually regaining the output lost from the pandemic. However, a rapid rebound in consumer spending pushed up against supply constraints and led to elevated inflation.
Equity prices rose with the broader economy, as the implementation of mass vaccination campaigns and passage of two additional fiscal stimulus packages further boosted stocks, and many equity indices neared or surpassed all-time highs late in the reporting period. In the United States, returns of small-capitalization stocks, which benefited the most from the resumption of in-person activities, outpaced large-capitalization stocks. International equities also gained, as both developed and emerging markets continued to recover from the effects of the pandemic.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) had fallen sharply prior to the beginning of the reporting period, which meant bonds were priced for extreme risk avoidance and economic disruption. Despite expectations of doom and gloom, the economy expanded rapidly, stoking inflation concerns in early 2021, which led to higher yields and a negative overall return for most U.S. Treasuries. In the corporate bond market, support from the U.S. Federal Reserve (the “Fed”) assuaged credit concerns and led to solid returns for high-yield corporate bonds, outpacing investment-grade corporate bonds.
The Fed remained committed to accommodative monetary policy by maintaining near-zero interest rates and by reiterating that inflation could exceed its 2% target for a sustained period without triggering a rate increase. In response to rising inflation late in the period, the Fed changed its market guidance, raising the possibility of higher rates in 2022 and reducing bond purchasing beginning in late 2021.
Looking ahead, we believe that the global expansion will continue to broaden as Europe and other developed market economies gain momentum, although the Delta variant of the coronavirus remains a threat, particularly in emerging markets. While we expect inflation to remain elevated in the medium-term as the expansion continues, we believe the recent uptick owes more to temporary supply disruptions than a lasting change in fundamentals. The change in Fed policy also means that moderate inflation is less likely to be followed by interest rate hikes that could threaten the economic expansion.
Overall, we favor a moderately positive stance toward risk, with an overweight in equities. 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. small-capitalization stocks and European equities are likely to benefit from the continuing vaccine-led restart, while Chinese equities stand to gain from a more accommodative monetary and fiscal environment as the Chinese economy slows. 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 October 31, 2021 | ||||
6-Month | 12-Month | |||
U.S.
large cap equities |
10.91% | 42.91% | ||
U.S.
small cap equities |
1.85 | 50.80 | ||
International
equities |
4.14 | 34.18 | ||
Emerging
market equities |
(4.87) | 16.96 | ||
3-month Treasury bills |
0.01 | 0.06 | ||
U.S.
Treasury securities |
1.59 | (4.77) | ||
U.S.
investment grade bonds |
1.06 | (0.48) | ||
Tax-exempt municipal bonds |
0.33 | 2.76 | ||
U.S.
high yield bonds |
2.36 | 10.53 | ||
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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THIS PAGE IS NOT PART OF YOUR FUND REPORT |
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Financial Statements |
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iShares Trust
Municipal Bond Market Overview
Municipal bonds advanced for the 12 months ended October 31, 2021 (“reporting period”). The Bloomberg Municipal Bond Index returned 2.64% compared with the -0.48% return of the Bloomberg U.S. Aggregate Bond Index, a broad measure of U.S. bond performance.
The U.S. economy continued to recover from the effects of the coronavirus pandemic, growing at a brisk pace during the reporting period. Driven by strong consumer spending and significant fiscal and monetary stimulus, U.S. growth outpaced most other developed economies. An ongoing COVID-19 vaccination program helped accelerate the easing of pandemic-related restrictions, and consumers returned to activities that were previously curtailed, such as travel, restaurant dining, and in-person shopping. Spending on goods also remained elevated, leading imports to rise to an all-time high.
However, this robust consumer demand combined with continued pandemic-related disruptions to the global supply chain led to significantly higher inflation. Similarly, in the labor market, the reopening economy and pent-up demand meant that hiring accelerated, and the unemployment rate fell substantially. Nonetheless, total employment remained notably below pre-pandemic levels and job openings reached a record high despite rising wages. Elevated demand drove an increase in industrial production, although rising commodities prices and supply delays constrained growth, particularly late in the reporting period. The emergence of the highly contagious Delta variant, which was responsible for a significant rise in cases beginning late in summer 2021, also weighed on the economy.
The U.S. Federal Reserve Bank (“Fed”) continued to keep short-term interest rates at near-zero levels and maintained a significant bond-buying program for U.S. Treasuries and mortgage-backed securities, although it discontinued its corporate bond purchasing program. The Fed indicated that it would begin slowing its bond buying activities late in 2021 and signaled that an interest rate increase could be possible in 2022. However, the improving employment environment and a sharp rise in inflation led investors to anticipate a more accelerated tightening of monetary policy. Trading activity showed that investors view multiple interest rate increases as probable in 2022.
Municipal bonds posted an advance for the reporting period, supported by the strengthening economy and stimulus payments to states and municipalities, as investors’ early-pandemic concerns about the strength of state finances were assuaged. Fed purchases of bonds directly from states and municipalities also helped to provide liquidity to the municipal bond market, although this program stopped purchases at the end of 2020. Supply of municipal bonds was high by historical standards, however issuance declined slightly from 2020’s record. Demand was high from investors seeking yield and tax advantages.
The passage of a stimulus package in March 2021 included large payments to state and local governments, supporting higher municipal bond prices. Municipal bonds were also impacted by the negotiations surrounding a large bipartisan infrastructure bill, which would provide funds for road, rail, and other infrastructure projects. Negotiators discussed items relevant to the municipal bond market, such as federally subsidized interest payments and the restoration of a tax exemption for early refinancing, although the bill had not been finalized by the end of the reporting period.
Among notable individual states, New York and California both posted positive returns. New York benefited from unexpectedly high tax revenue, as a record stock market and the high profits of financial services companies bolstered capital gains receipts. California’s financial outlook improved significantly, and it projected a budget surplus in excess of $75 billion, driven by taxes generated from technology companies and an economy well-adapted for remote work.
4 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2021 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2021 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2020 and before December 2, 2021, as represented by the S&P AMT-Free Municipal Series Dec 2021 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||
1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | |||||||||||||||||||||||
Fund NAV |
0.08 | % | 1.07 | % | 1.65 | % | 0.08 | % | 5.44 | % | 10.62 | % | ||||||||||||||||
Fund Market |
0.12 | 1.04 | 1.64 | 0.12 | 5.32 | 10.57 | ||||||||||||||||||||||
Index |
0.31 | 1.26 | 1.73 | 0.31 | 6.45 | 11.17 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 9/1/15. The first day of secondary market trading was 9/3/15.
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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 999.50 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
5 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2021 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent
of Net Assets |
|||
AAA |
8.4 | % | ||
AA+ |
6.7 | |||
AA |
3.1 | |||
AA- |
5.9 | |||
A+ |
1.6 | |||
A |
2.1 | |||
A- |
0.0 | (a) | ||
BBB+ |
0.8 | |||
BBB |
1.1 | |||
A-1+ |
36.2 | |||
A-1 |
26.0 | |||
Not Rated |
5.1 | |||
SP-1+ |
1.3 | |||
Short-Term and Other Assets |
1.7 |
* |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) |
Rounds to less than 0.1% |
TEN LARGEST STATES
State(b) | Percent
of Net Assets |
|||
California |
21.8 | % | ||
New York |
14.7 | |||
Massachusetts |
10.0 | |||
Texas |
7.8 | |||
Ohio |
6.4 | |||
Illinois |
5.0 | |||
Maryland |
4.7 | |||
North Carolina |
4.6 | |||
Connecticut |
4.3 | |||
Virginia |
3.2 |
(b) |
Excludes money market funds. |
6 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2022 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2022 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2021 and before December 2, 2022, as represented by the S&P AMT-Free Municipal Series Dec 2022 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||
1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | |||||||||||||||||||||||
Fund NAV |
0.27 | % | 1.43 | % | 2.15 | % | 0.27 | % | 7.34 | % | 14.02 | % | ||||||||||||||||
Fund Market |
0.27 | 1.40 | 2.16 | 0.27 | 7.22 | 14.06 | ||||||||||||||||||||||
Index |
0.52 | 1.63 | 2.24 | 0.52 | 8.41 | 14.65 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 9/1/15. The first day of secondary market trading was 9/3/15.
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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 999.40 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
7 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2022 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent
of Net Assets |
|||
AAA |
30.4 | % | ||
AA+ |
20.9 | |||
AA |
13.5 | |||
AA- |
11.1 | |||
A+ |
6.7 | |||
A |
2.7 | |||
A- |
0.5 | |||
BBB+ |
1.4 | |||
BBB |
1.7 | |||
Not Rated |
9.7 | |||
Short-Term and Other Assets |
1.4 |
* |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
TEN LARGEST STATES
State(a) | Percent
of Net Assets |
|||
Texas |
10.6 | % | ||
California |
9.5 | |||
New York |
8.6 | |||
Washington |
5.3 | |||
Florida |
4.6 | |||
Virginia |
4.4 | |||
Ohio |
4.0 | |||
North Carolina |
3.8 | |||
Maryland |
3.7 | |||
Massachusetts |
3.6 |
(a) |
Excludes money market funds. |
8 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2023 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2023 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2022 and before December 2, 2023, as represented by the S&P AMT-Free Municipal Series Dec 2023 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
1 Year | Since Inception | 1 Year | Since Inception | |||||||||||||||||
Fund NAV |
0.43 | % | 2.32 | % | 0.43 | % | 11.01 | % | ||||||||||||
Fund Market |
0.39 | 2.32 | 0.39 | 11.00 | ||||||||||||||||
Index |
0.71 | 2.42 | 0.71 | 11.52 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 4/11/17. The first day of secondary market trading was 4/13/17.
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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 998.90 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
9 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2023 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent of Net Assets |
|||
AAA |
31.1 | % | ||
AA+ |
21.5 | |||
AA |
15.3 | |||
AA- |
10.9 | |||
A+ |
6.7 | |||
A |
1.9 | |||
A- |
0.5 | |||
BBB+ |
1.3 | |||
BBB |
2.5 | |||
Not Rated |
7.0 | |||
Short-Term and Other Assets |
1.3 |
* |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
TEN LARGEST STATES
State(a) | Percent of Net Assets |
|||
Texas |
11.3 | % | ||
California |
10.4 | |||
New York |
10.2 | |||
Virginia |
4.8 | |||
Washington |
4.8 | |||
Florida |
3.9 | |||
Wisconsin |
3.9 | |||
Maryland |
3.7 | |||
Ohio |
3.4 | |||
Arizona |
2.9 |
(a) |
Excludes money market funds. |
10 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2024 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2024 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2023 and before December 2, 2024, as represented by the S&P AMT-Free Municipal Series Dec 2024 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
1 Year | Since Inception | 1 Year | Since Inception | |||||||||||||||||
Fund NAV |
0.42 | % | 3.49 | % | 0.42 | % | 13.22 | % | ||||||||||||
Fund Market |
0.38 | 3.50 | 0.38 | 13.26 | ||||||||||||||||
Index |
0.78 | 3.59 | 0.78 | 13.58 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 3/20/18. The first day of secondary market trading was 3/22/18.
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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 998.30 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
11 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2024 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent
of Net Assets |
|||
AAA |
32.0 | % | ||
AA+ |
21.6 | |||
AA |
14.8 | |||
AA- |
11.2 | |||
A+ |
6.1 | |||
A |
2.4 | |||
A- |
0.2 | |||
BBB+ |
1.5 | |||
BBB |
1.9 | |||
Not Rated |
6.9 | |||
Short-Term and Other Assets |
1.4 |
* |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
TEN LARGEST STATES
State(a) | Percent
of Net Assets |
|||
Texas |
12.4 | % | ||
California |
11.5 | |||
New York |
10.2 | |||
Washington |
5.2 | |||
Virginia |
4.7 | |||
Maryland |
4.4 | |||
Ohio |
3.5 | |||
Florida |
3.5 | |||
Massachusetts |
2.8 | |||
Arizona |
2.6 |
(a) |
Excludes money market funds. |
12 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2025 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2024 and before December 2, 2025, as represented by the S&P AMT-Free Municipal Series Dec 2025 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
1 Year | Since Inception | 1 Year | Since Inception | |||||||||||||||||
Fund NAV |
0.23 | % | 4.97 | % | 0.23 | % | 15.48 | % | ||||||||||||
Fund Market |
0.23 | 5.00 | 0.23 | 15.56 | ||||||||||||||||
Index |
0.69 | 4.77 | 0.69 | 14.80 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 11/13/18. The first day of secondary market trading was 11/15/18.
Past performance is 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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 997.70 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
13 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent
of Net Assets |
|||
AAA |
31.2 | % | ||
AA+ |
21.8 | |||
AA |
14.9 | |||
AA- |
11.1 | |||
A+ |
6.8 | |||
A |
2.0 | |||
A- |
0.4 | |||
BBB+ |
1.2 | |||
BBB |
2.1 | |||
Not Rated |
7.2 | |||
Short-Term and Other Assets |
1.3 |
* |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
TEN LARGEST STATES
State(a) | Percent
of Net Assets |
|||
California |
14.6 | % | ||
Texas |
10.8 | |||
New York |
9.4 | |||
Washington |
5.3 | |||
Virginia |
4.5 | |||
Maryland |
4.4 | |||
Florida |
3.3 | |||
Massachusetts |
3.3 | |||
Ohio |
3.0 | |||
Pennsylvania |
2.8 |
(a) |
Excludes money market funds. |
14 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2026 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2026 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2026, as represented by the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
1 Year | Since Inception | 1 Year | Since Inception | |||||||||||||||||
Fund NAV |
0.54 | % | 3.71 | % | 0.54 | % | 9.87 | % | ||||||||||||
Fund Market |
0.65 | 3.77 | 0.65 | 10.04 | ||||||||||||||||
Index |
1.20 | 3.84 | 1.20 | 10.21 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 4/2/19. The first day of secondary market trading was 4/4/19.
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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 997.30 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
15 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2026 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent
of Net Assets |
|||
AAA |
31.3 | % | ||
AA+ |
21.5 | |||
AA |
14.7 | |||
AA- |
12.0 | |||
A+ |
5.7 | |||
A |
2.0 | |||
A- |
0.3 | |||
BBB+ |
1.7 | |||
BBB |
2.2 | |||
Not Rated |
7.4 | |||
Short-Term and Other Assets |
1.2 |
* |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
TEN LARGEST STATES
State(a) | Percent
of Net Assets |
|||
California |
14.8 | % | ||
Texas |
11.9 | |||
New York |
10.9 | |||
Virginia |
5.1 | |||
Washington |
4.2 | |||
Maryland |
4.2 | |||
Massachusetts |
3.5 | |||
Florida |
3.2 | |||
Pennsylvania |
2.8 | |||
Tennessee |
2.8 |
(a) |
Excludes money market funds. |
16 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2027 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2027 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2027, as represented by the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2027 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
1 Year | Since Inception | 1 Year | Since Inception | |||||||||||||||||
Fund NAV |
0.72 | % | 4.03 | % | 0.72 | % | 10.65 | % | ||||||||||||
Fund Market |
0.90 | 4.12 | 0.90 | 10.90 | ||||||||||||||||
Index |
1.46 | 4.23 | 1.46 | 11.17 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 4/9/19. The first day of secondary market trading was 4/11/19.
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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 997.20 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
17 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2027 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent
of Net Assets |
|||
AAA |
28.9 | % | ||
AA+ |
20.6 | |||
AA |
15.9 | |||
AA- |
13.6 | |||
A+ |
5.1 | |||
A |
2.2 | |||
A- |
0.2 | |||
BBB+ |
1.0 | |||
BBB |
2.4 | |||
Not Rated |
8.8 | |||
Short-Term and Other Assets |
1.3 |
* |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
TEN LARGEST STATES
State(a) | Percent
of Net Assets |
|||
California |
12.4 | % | ||
New York |
10.9 | |||
Texas |
10.0 | |||
Washington |
6.4 | |||
Maryland |
5.1 | |||
Illinois |
3.7 | |||
Virginia |
3.1 | |||
Florida |
3.0 | |||
Wisconsin |
3.0 | |||
Massachusetts |
2.8 |
(a) |
Excludes money market funds. |
18 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of October 31, 2021 | iShares® iBonds® Dec 2028 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2028 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2028, as represented by the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
1 Year | Since Inception | 1 Year | Since Inception | |||||||||||||||||
Fund NAV |
0.90 | % | 4.44 | % | 0.90 | % | 11.69 | % | ||||||||||||
Fund Market |
1.05 | 4.50 | 1.05 | 11.85 | ||||||||||||||||
Index |
1.64 | 4.48 | 1.64 | 11.77 |
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was 4/16/19. The first day of secondary market trading was 4/18/19.
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 21 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Beginning Account Value (05/01/21) |
Ending Account Value (10/31/21) |
Expenses Paid During the Period (a) |
Annualized Expense Ratio |
||||||||||||||||||||||||
$ | 1,000.00 | $ | 996.00 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % |
(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 21 for more information. |
FUND SUMMARY |
19 |
Fund Summary as of October 31, 2021 (continued) | iShares® iBonds® Dec 2028 Term Muni Bond ETF |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
S&P Credit Rating* | Percent
of Net Assets |
|||
AAA |
29.5 | % | ||
AA+ |
20.2 | |||
AA |
15.4 | |||
AA- |
11.8 | |||
A+ |
5.5 | |||
A |
2.4 | |||
A- |
0.1 | |||
BBB+ |
2.5 | |||
BBB |
1.8 | |||
Not Rated |
9.1 | |||
Short-Term and Other Assets |
1.7 |
* |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
TEN LARGEST STATES
State(a) | Percent
of Net Assets |
|||
California |
13.4 | % | ||
Texas |
12.4 | |||
New York |
11.7 | |||
Washington |
4.9 | |||
Florida |
4.8 | |||
Maryland |
4.6 | |||
Virginia |
3.7 | |||
Ohio |
3.1 | |||
Illinois |
2.7 | |||
Nevada |
2.4 |
(a) |
Excludes money market funds. |
20 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
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.
As a shareholder of your Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares and (2) ongoing costs, including management fees and other fund expenses. The expense example, which is based on an 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, is intended to help you understand your ongoing costs (in dollars and cents) of investing in your Fund and to compare these costs with the ongoing costs of investing in other funds.
Actual Expenses — The table provides information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. To estimate the expenses that you paid on your account over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”
Hypothetical Example for Comparison Purposes — The table also provides information about hypothetical account values and hypothetical expenses based on your Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
ABOUT FUND PERFORMANCE / SHAREHOLDER EXPENSES |
21 |
October 31, 2021 |
iShares® iBonds® Dec 2021 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations |
||||||||
Alabama — 0.0% | ||||||||
State of Alabama GO, Series A, 5.00%, 11/01/21 |
$ | 100 | $ | 100,000 | ||||
|
|
|||||||
Alaska — 0.0% | ||||||||
City of Anchorage AK Electric Revenue RB, Series A, 4.00%, 12/01/21 |
35 | 35,108 | ||||||
|
|
|||||||
Arizona — 0.1% | ||||||||
Salt River Project Agricultural Improvement & Power District RB, Series A, 5.00%, 12/01/21 |
340 | 341,330 | ||||||
|
|
|||||||
Arkansas — 0.0% | ||||||||
University of Arkansas RB, Series B, 5.00%, 11/01/21 |
30 | 30,000 | ||||||
|
|
|||||||
California — 21.8% | ||||||||
Bay Area Toll Authority RB, 0.03%, 04/01/47 (Put 11/05/21)(a) |
7,000 | 7,000,000 | ||||||
California State Public Works Board RB |
||||||||
5.00%, 11/01/21 |
100 | 100,000 | ||||||
Series C, 5.00%, 11/01/21 |
500 | 500,000 | ||||||
Series D, 5.00%, 12/01/21 |
150 | 150,578 | ||||||
Series G, 5.00%, 11/01/21 |
140 | 140,000 | ||||||
Series G, 5.25%, 12/01/26 (PR 12/01/21) |
250 | 251,035 | ||||||
Series I, 4.00%, 11/01/21 |
160 | 160,000 | ||||||
Series I, 5.00%, 11/01/21 |
540 | 540,000 | ||||||
California State University RB |
||||||||
Series A, 4.00%, 11/01/21 |
105 | 105,000 | ||||||
Series A, 5.00%, 11/01/21 |
490 | 490,000 | ||||||
City of San Francisco CA Public Utilities Commission Water Revenue RB |
||||||||
5.00%, 11/01/21 |
775 | 775,000 | ||||||
5.00%, 11/01/34 ( 11/01/21) |
5,000 | 5,000,000 | ||||||
East Bay Municipal Utility District Water System Revenue, Series A4, VRDN,0.05%, 06/01/38 (Put 11/05/21)(a) |
1,245 | 1,245,000 | ||||||
Imperial Irrigation District Electric System Revenue RB, Series D, 5.00%, 11/01/21 |
500 | 500,000 | ||||||
Los Angeles County Public Works Financing Authority RB, Series A, 5.00%, 12/01/21 |
100 | 100,395 | ||||||
Los Angeles Department of Water & Power RB, Series A-1, VRDN,0.01%, 07/01/50 (Put 11/01/21)(a) |
3,700 | 3,700,000 | ||||||
Los
Angeles Department of Water & Power Water System Revenue
RB |
3,000 | 3,000,000 | ||||||
VRDN,0.02%, 07/01/35 (Put 11/01/21)(a) |
900 | 900,000 | ||||||
Metropolitan Water District of Southern California RB, Series A-2, VRDN,0.02%, 07/01/37 (Put 11/05/21)(a) |
1,675 | 1,675,000 | ||||||
Municipal Improvement Corp. of Los Angeles RB |
||||||||
Series A, 5.00%, 11/01/21 |
220 | 220,000 | ||||||
Series B, 5.00%, 11/01/21 |
275 | 275,000 | ||||||
Orange County Water District COP, Series A, 0.04%, 08/01/42 (Put 11/05/21)(a) |
5,000 | 5,000,000 | ||||||
Sacramento Suburban Water District RB, Series A, 4.50%, 11/01/21 |
220 | 220,000 | ||||||
Sacramento Transportation Authority RB, VRDN,0.05%, 10/01/38 (Put 11/05/21)(a) |
6,000 | 6,000,000 | ||||||
San Diego County Regional Transportation Commission RB Series B, 0.04%, 04/01/38 (Put 11/05/21)(a) |
1,000 | 1,000,000 | ||||||
Series C, VRDN,0.04%, 04/01/38 (Put 11/05/21)(a) |
10,000 | 10,000,000 | ||||||
Santa Clara Valley Transportation Authority RB, VRDN,0.01%, 04/01/36 (Put 11/05/21)(a) |
2,285 | 2,285,000 | ||||||
State of California Department of Water Resources RB Series AK, 5.00%, 12/01/21 |
465 | 466,834 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Series AL, 5.00%, 12/01/21 |
$ | 100 | $ | 100,395 | ||||
Series AM, 5.00%, 12/01/21 |
215 | 215,848 | ||||||
State of California GO |
||||||||
5.00%, 11/01/21 |
1,605 | 1,605,000 | ||||||
5.00%, 12/01/21 |
1,880 | 1,887,355 | ||||||
University of California GO |
||||||||
VRDN,0.02%, 05/15/48 (Put 11/01/21)(a) |
2,000 | 2,000,000 | ||||||
VRDN,0.02%, 05/15/48 (Put 11/05/21)(a) |
2,600 | 2,600,000 | ||||||
|
|
|||||||
60,207,440 | ||||||||
Colorado — 2.6% | ||||||||
City & County of Denver CO Airport System Revenue RB, Series B, 5.00%, 11/15/21 |
125 | 125,219 | ||||||
City & County of Denver CO COP, Series 2010-B, 4.00%, 12/01/21 |
20 | 20,062 | ||||||
City of Colorado Springs CO Utilities System Revenue RB, Series A, 5.00%, 11/15/21 |
50 | 50,087 | ||||||
City of Colorado Springs Co. Utilities System Revenue RB |
||||||||
VRDN,0.05%, 11/01/35 (Put 11/05/21)(a) |
2,180 | 2,180,000 | ||||||
VRDN,0.06%, 11/01/41 (Put 11/05/21)(a) |
2,850 | 2,850,000 | ||||||
Denver City & County School District No. 1 GO |
||||||||
Series A, 5.00%, 12/01/21 (SAW) |
100 | 100,393 | ||||||
Series A, 5.25%, 12/01/21 (NPFGC) |
415 | 416,714 | ||||||
Series B, 4.00%, 12/01/21 (SAW) |
125 | 125,391 | ||||||
Series C, 5.00%, 12/01/21 (SAW) |
190 | 190,746 | ||||||
University of Colorado RB, VRDN, 0.05%, 06/01/50 (Put 11/05/21)(a) |
1,000 | 1,000,000 | ||||||
|
|
|||||||
7,058,612 | ||||||||
Connecticut — 4.3% | ||||||||
Connecticut State Health & Educational Facilities Authority RB |
||||||||
Series O, 4.00%, 11/01/21 |
35 | 35,000 | ||||||
Series V-1, VRDN,0.01%, 07/01/36 (Put 11/05/21)(a) |
3,200 | 3,200,000 | ||||||
Series V-2, 0.01%, 07/01/36 (Put 11/05/21)(a) |
2,230 | 2,230,000 | ||||||
State of Connecticut GO |
||||||||
Series C, VRDN,0.07%, 05/15/34 (Put 11/05/21)(a) |
5,000 | 5,000,000 | ||||||
Series D, 5.00%, 11/01/21 |
250 | 250,000 | ||||||
Series G, 5.00%, 11/01/21 |
500 | 500,000 | ||||||
State
of Connecticut Special Tax Revenue RB |
500 | 501,562 | ||||||
Series B, 5.00%, 12/01/21 |
250 | 250,982 | ||||||
|
|
|||||||
11,967,544 | ||||||||
Delaware — 0.1% | ||||||||
City of Wilmington DE GO, 2.00%, 12/01/21 |
125 | 125,189 | ||||||
University of Delaware RB, Series A, 5.00%, 11/01/21 |
160 | 160,000 | ||||||
|
|
|||||||
285,189 | ||||||||
District of Columbia — 0.4% | ||||||||
District of Columbia RB |
||||||||
Series A, 4.00%, 12/01/21 |
100 | 100,311 | ||||||
Series A, 5.00%, 12/01/21 |
320 | 321,252 | ||||||
Series C, 4.00%, 12/01/21 |
200 | 200,621 | ||||||
Series C, 5.00%, 12/01/21 |
355 | 356,389 | ||||||
Series F, 5.00%, 12/01/21 |
200 | 200,782 | ||||||
|
|
|||||||
1,179,355 | ||||||||
Florida — 0.1% | ||||||||
City of Orlando FL RB, Series A, 5.00%, 11/01/21, (ETM) |
90 | 90,000 | ||||||
County of Hillsborough FL Community Investment Tax Revenue RB, Series A, 5.00%, 11/01/21 |
40 | 40,000 |
22 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2021 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Florida (continued) |
||||||||
School Board of Miami-Dade County (The) COP, Series D, 5.00%, 11/01/21 |
$ | 205 | $ | 205,000 | ||||
|
|
|||||||
335,000 | ||||||||
Georgia — 0.4% | ||||||||
City
of Atlanta GA Water & Wastewater Revenue
RB |
160 | 160,000 | ||||||
Series B, 5.00%, 11/01/21 |
250 | 250,000 | ||||||
Municipal Electric Authority of Georgia RB, Series A, 5.00%, 11/01/21 |
50 | 50,000 | ||||||
State of Georgia GO |
||||||||
Series E, 5.00%, 12/01/21 |
145 | 145,568 | ||||||
Series I, 5.00%, 11/01/21 |
130 | 130,000 | ||||||
Washington Wilkes Payroll Development Authority RB, 0.00%, 12/01/21, (ETM)(b) |
220 | 219,933 | ||||||
|
|
|||||||
955,501 | ||||||||
Hawaii — 0.7% | ||||||||
City & County of Honolulu HI GO, Series C, 4.00%, 11/01/21 |
100 | 100,000 | ||||||
State of Hawaii GO |
||||||||
Series DZ, 5.00%, 12/01/29 (PR 12/01/21) |
540 | 542,108 | ||||||
Series DZ, 5.00%, 12/01/30 (PR 12/01/21) |
395 | 396,542 | ||||||
Series DZ-2016, 5.00%, 12/01/26 (PR 12/01/21) |
150 | 150,585 | ||||||
Series DZ-2017, 5.00%, 12/01/21 |
70 | 70,275 | ||||||
Series DZ-2017, 5.00%, 12/01/21 (ETM) |
25 | 25,097 | ||||||
Series EA, 4.00%, 12/01/21 |
30 | 30,094 | ||||||
Series EA, 5.00%, 12/01/21 |
145 | 145,571 | ||||||
Series EE, 5.00%, 11/01/21 |
80 | 80,000 | ||||||
Series EF, 5.00%, 11/01/21 |
485 | 485,000 | ||||||
|
|
|||||||
2,025,272 | ||||||||
Illinois — 5.0% | ||||||||
Illinois Finance Authority RB |
||||||||
VRDN,0.05%, 07/01/38 (Put 11/05/21)(a) |
10,000 | 10,000,000 | ||||||
Series D, VRDN,0.04%, 12/01/46 (Put 11/05/21)(a) |
1,050 | 1,050,000 | ||||||
Illinois State Toll Highway Authority RB, Series A, 5.00%, 12/01/21 |
250 | 250,960 | ||||||
State of Illinois GO |
||||||||
Series A, 5.00%, 12/01/21 |
300 | 301,159 | ||||||
Series D, 5.00%, 11/01/21 |
2,220 | 2,220,000 | ||||||
|
|
|||||||
13,822,119 | ||||||||
Indiana — 0.6% | ||||||||
Indiana Finance Authority RB |
||||||||
Series A, 5.00%, 12/01/21 |
315 | 316,232 | ||||||
Series C, 5.00%, 12/01/21 |
135 | 135,529 | ||||||
Indiana Transportation Finance Authority RB, 5.75%, 12/01/21 (NPFGC) |
250 | 251,131 | ||||||
Purdue University RB, Series A, VRDN,0.05%, 07/01/33 (Put 11/05/21)(a) |
825 | 825,000 | ||||||
|
|
|||||||
1,527,892 | ||||||||
Louisiana — 0.0% | ||||||||
Louisiana Office Facilities Corp. RB, 5.00%, 11/01/21 |
25 | 25,000 | ||||||
|
|
|||||||
Maine — 0.2% | ||||||||
Maine Municipal Bond Bank RB |
||||||||
Series B, 5.00%, 11/01/21 |
215 | 215,000 | ||||||
Series C, 5.00%, 11/01/21 |
405 | 405,000 | ||||||
|
|
|||||||
620,000 | ||||||||
Maryland — 4.7% | ||||||||
County of Carroll MD GO, 5.00%, 11/01/21 |
100 | 100,000 | ||||||
County of Montgomery MD GO |
||||||||
VRDN,0.03%, 11/01/37 (Put 11/01/21)(a) |
970 | 970,000 |
Security | Par (000) |
Value | ||||||
Maryland (continued) | ||||||||
Series A, 5.00%, 11/01/21 |
$ | 1,620 | $ | 1,620,000 | ||||
Maryland Health & Higher Educational Facilities Authority RB, 0.06%, 07/01/36 (Put 11/05/21)(a) |
10,000 | 10,000,000 | ||||||
State
of Maryland Department of Transportation RB |
190 | 190,000 | ||||||
5.00%, 12/01/21 |
105 | 105,411 | ||||||
|
|
|||||||
12,985,411 | ||||||||
Massachusetts — 10.0% | ||||||||
Massachusetts Bay Transportation Authority RB, |
||||||||
VRDN,0.06%, 03/01/30 (Put 11/05/21)(a) |
2,700 | 2,700,000 | ||||||
Massachusetts Development Finance Agency RB |
||||||||
VRDN,0.03%, 10/01/42 (Put 11/05/21)(a) |
1,790 | 1,790,000 | ||||||
Series U-6E, VRDN,0.03%, 10/01/42 (Put 11/05/21)(a) |
5,500 | 5,500,000 | ||||||
Massachusetts Health & Educational Facilities Authority RB |
||||||||
VRDN,0.01%, 11/01/49 (Put 11/05/21)(a) |
275 | 275,000 | ||||||
VRDN,0.04%, 07/01/35 (Put 11/05/21)(a) |
5,000 | 5,000,000 | ||||||
Series J-1, VRDN,0.03%, 07/01/31 (Put 11/05/21)(a) |
7,100 | 7,100,000 | ||||||
Series J-2, VRDN,0.04%, 07/01/31 (Put 11/05/21)(a) |
2,200 | 2,200,000 | ||||||
Massachusetts Water Resources Authority RB |
||||||||
VRDN,0.05%, 11/01/26 (Put 11/05/21)(a) |
1,500 | 1,500,000 | ||||||
VRDN,0.06%, 08/01/37 (Put 11/05/21)(a) |
1,215 | 1,215,000 | ||||||
University
of Massachusetts Building Authority RB |
120 | 120,000 | ||||||
Series 1, 4.00%, 11/01/21 |
50 | 50,000 | ||||||
Series 2, 5.00%, 11/01/21 |
35 | 35,000 | ||||||
|
|
|||||||
27,485,000 | ||||||||
Michigan — 2.1% | ||||||||
Michigan State Hospital Finance Authority RB, Series 200, 4.00%, 11/01/21 |
250 | 250,000 | ||||||
State of Michigan GO |
||||||||
Series A, 5.00%, 12/01/21 |
270 | 271,050 | ||||||
Series B, 5.00%, 11/01/21 |
235 | 235,000 | ||||||
State
of Michigan Trunk Line Revenue RB |
2,060 | 2,063,627 | ||||||
5.25%, 11/01/21 (AGM) |
125 | 125,000 | ||||||
5.50%, 11/01/21 (AGM) |
490 | 490,000 | ||||||
Series D, 5.00%, 11/15/21 |
350 | 350,616 | ||||||
University of Michigan RB, Series D-2, VRDN,0.04%, 12/01/29 (Put 11/05/21)(a) |
1,995 | 1,995,000 | ||||||
|
|
|||||||
5,780,293 | ||||||||
Minnesota — 1.7% | ||||||||
County of Hennepin MN GO, Series C, 5.00%, 12/01/21 |
250 | 250,978 | ||||||
Metropolitan Council GO, Series C, 5.00%, 12/01/21 |
3,605 | 3,619,132 | ||||||
University of Minnesota RB |
||||||||
Series B, 5.00%, 12/01/21 |
300 | 301,176 | ||||||
Series D, 5.00%, 12/01/36 (PR 12/01/21) |
500 | 501,961 | ||||||
|
|
|||||||
4,673,247 | ||||||||
Mississippi — 0.3% | ||||||||
State of Mississippi GO |
||||||||
Series A, 5.25%, 11/01/21 |
340 | 340,000 | ||||||
Series F, 5.00%, 11/01/21 |
340 | 340,000 | ||||||
Series H, 4.00%, 12/01/21 |
165 | 165,517 | ||||||
|
|
|||||||
845,517 | ||||||||
Missouri — 0.1% | ||||||||
Curators of the University of Missouri/The, Series A, 5.00%, 11/01/21 |
160 | 160,000 |
SCHEDULE OF INVESTMENTS |
23 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2021 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Missouri (continued) | ||||||||
Missouri Highway & Transportation Commission RB, Series B, 5.00%, 11/01/21 |
$ | 100 | $ | 100,000 | ||||
|
|
|||||||
260,000 | ||||||||
Nebraska — 0.2% | ||||||||
City of Omaha NE GO, Series B, 5.00%, 11/15/21 |
280 | 280,491 | ||||||
City of Omaha NE Sewer Revenue RB, 5.00%, 11/15/21 |
45 | 45,079 | ||||||
Metropolitan Utilities District of Omaha Water System Revenue RB, 5.00%, 12/01/21 |
200 | 200,776 | ||||||
|
|
|||||||
526,346 | ||||||||
Nevada — 0.4% | ||||||||
County of Clark NV GOL |
||||||||
5.00%, 11/01/21 |
385 | 385,000 | ||||||
5.00%, 12/01/21 |
160 | 160,626 | ||||||
Las Vegas Valley Water District GOL, Series B, 5.00%, 12/01/21 |
100 | 100,389 | ||||||
State of Nevada GOL, Series B, 5.00%, 11/01/21 |
245 | 245,000 | ||||||
State of Nevada Highway Improvement Revenue RB, 5.00%, 12/01/21 |
225 | 225,884 | ||||||
|
|
|||||||
1,116,899 | ||||||||
New Hampshire — 0.0% | ||||||||
State of New Hampshire GO, Series B, 5.00%, 11/01/21 |
75 | 75,000 | ||||||
|
|
|||||||
New Jersey — 0.5% | ||||||||
Monmouth
County Improvement Authority (The) RB |
600 | 601,849 | ||||||
5.00%, 12/01/21 (GTD) |
310 | 311,205 | ||||||
New Jersey Economic Development Authority RB, Series B, 5.00%, 11/01/21 (SAP) |
440 | 440,000 | ||||||
|
|
|||||||
1,353,054 | ||||||||
New York — 14.7% | ||||||||
Battery Park City Authority RB, VRDN,0.06%, 11/01/38 (Put 11/05/21)(a) |
4,500 | 4,500,000 | ||||||
City of New York NY GO, VRDN,0.04%, 10/01/46 (Put 11/05/21)(a) |
6,100 | 6,100,000 | ||||||
Metropolitan
Transportation Authority RB |
30 | 30,054 | ||||||
Series A-1, 4.00%, 11/15/21 (ETM) |
50 | 50,070 | ||||||
Series A-1, 5.00%, 11/15/21 |
110 | 110,188 | ||||||
Series B, 5.00%, 11/15/21 |
290 | 290,495 | ||||||
Series B, 5.25%, 11/15/21 (NPFGC) |
250 | 250,449 | ||||||
Series B, 5.25%, 11/15/21 (NPFGC FGIC) |
100 | 100,180 | ||||||
Series B-1, 2.00%, 11/01/21 |
5,000 | 5,000,000 | ||||||
Series B-2, 5.00%, 11/15/21 |
210 | 210,358 | ||||||
Series B-4, 5.00%, 11/15/21 |
195 | 195,346 | ||||||
Series C, 5.00%, 11/15/21 |
280 | 280,477 | ||||||
Series C-1, 5.00%, 11/15/21 |
120 | 120,205 | ||||||
Series D, 5.00%, 11/15/21 |
255 | 255,435 | ||||||
Series E, 5.00%, 11/15/21 |
180 | 180,307 | ||||||
Series F, 4.00%, 11/15/21 |
25 | 25,034 | ||||||
Series F, 5.00%, 11/15/21 |
335 | 335,579 | ||||||
Nassau County Interim Finance Authority RB, Series A, 5.00%, 11/15/21 |
50 | 50,088 | ||||||
New
York City Transitional Finance Authority Future Tax Secured Revenue
RB |
525 | 525,000 | ||||||
Series A, 5.00%, 11/01/21 |
110 | 110,000 | ||||||
Series A-1, 5.00%, 11/01/21 |
475 | 475,000 | ||||||
Series B, 5.00%, 11/01/21 |
100 | 100,000 | ||||||
Series B-1, 5.00%, 11/01/21 |
100 | 100,000 |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Series B-4, VRDN,0.03%, 08/01/42 (Put 11/05/21)(a) |
$ | 6,000 | $ | 6,000,000 | ||||
Series C, 5.00%, 11/01/21 |
840 | 840,000 | ||||||
Series D, 5.00%, 11/01/21 |
200 | 200,000 | ||||||
Series E, 5.00%, 11/01/21 |
150 | 150,000 | ||||||
New York City Water & Sewer System RB 0.05%, 06/15/33 (Put 11/15/21)(a) |
2,420 | 2,420,000 | ||||||
Series AA2, VRDN,0.03%, 06/15/50 (Put 11/05/21)(a) |
2,100 | 2,100,000 | ||||||
Series CC, VRDN,0.05%, 06/15/41 (Put 11/05/21)(a) |
880 | 880,000 | ||||||
New York Convention Center Development Corp. RB, 5.00%, 11/15/21 |
200 | 200,340 | ||||||
New York Municipal Bond Bank Agency RB, Series A, 5.00%, 12/01/21 (SAW) |
110 | 110,432 | ||||||
New York State Environmental Facilities Corp. RB, Series B, 5.00%, 11/15/21 |
375 | 375,660 | ||||||
New York State Urban Development Corp. RB, Series A-3, VRDN,0.05%, 03/15/33 (Put 11/15/21)(a) |
5,000 | 5,000,000 | ||||||
Port
Authority of New York & New Jersey
RB |
200 | 200,348 | ||||||
Series 173, 4.00%, 12/01/21 |
30 | 30,092 | ||||||
Series 175, 5.00%, 12/01/21 |
55 | 55,213 | ||||||
Triborough
Bridge & Tunnel Authority RB |
430 | 430,824 | ||||||
Series A, 4.00%, 11/15/21 |
65 | 65,089 | ||||||
Series A, 5.00%, 11/15/21 |
80 | 80,141 | ||||||
Series A, VRDN,0.05%, 11/01/41 (Put 11/05/21)(a) |
1,000 | 1,000,000 | ||||||
Series B, 4.00%, 11/15/21 |
305 | 305,427 | ||||||
Series B, 5.00%, 11/15/21 |
660 | 661,162 | ||||||
Series C, 5.00%, 11/15/21 |
175 | 175,308 | ||||||
|
|
|||||||
40,674,301 | ||||||||
North Carolina — 4.6% | ||||||||
City of Charlotte NC COP, Series A, 5.00%, 12/01/21 |
495 | 496,936 | ||||||
City of Charlotte NC GO, 5.00%, 12/01/21 |
285 | 286,120 | ||||||
City
of Charlotte NC Water & Sewer System Revenue
RB |
50 | 50,196 | ||||||
Series B, 0.05%, 07/01/36 (Put 11/05/21)(a) |
7,810 | 7,810,000 | ||||||
City of Raleigh NC Combined Enterprise System Revenue RB, Series B, 5.00%, 12/01/21 |
135 | 135,529 | ||||||
County of Durham NC GO, 5.00%, 11/01/21 |
110 | 110,000 | ||||||
County of Forsyth NC GO, 4.00%, 12/01/21 |
10 | 10,031 | ||||||
County of Mecklenburg NC GO, Series A, 5.00%, 12/01/21 |
570 | 572,244 | ||||||
County of New Hanover NC RB, 5.00%, 12/01/21 |
250 | 250,978 | ||||||
County of Wake NC RB, Series A, 5.00%, 12/01/21 |
75 | 75,295 | ||||||
North Carolina Educational Facilities Finance Agency RB, Series A, 0.03%, 06/01/27 (Put 12/01/21)(a) |
2,900 | 2,900,000 | ||||||
|
|
|||||||
12,697,329 | ||||||||
Ohio — 6.4% | ||||||||
Columbus City School District GO, Series A, 5.00%, 12/01/21. |
105 | 105,410 | ||||||
County
of Hamilton OH Sales Tax Revenue RB, Series
A, |
545 | 547,132 | ||||||
Northeast Ohio Regional Sewer District RB, 5.00%, 11/15/21 . |
70 | 70,123 | ||||||
Ohio
State University (The) RB |
7,500 | 7,500,000 | ||||||
Series D, 5.00%, 12/01/21 |
75 | 75,294 | ||||||
Ohio
Water Development Authority Water Pollution Control Loan Fund
RB |
640 | 642,514 | ||||||
VRDN,0.04%, 12/01/36 (Put 11/05/21)(a) |
8,500 | 8,500,000 | ||||||
Series B, 5.00%, 12/01/21 |
150 | 150,589 |
24 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2021 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Ohio (continued) | ||||||||
State of Ohio GO, Series T, 5.00%, 11/01/21 |
$ | 200 | $ | 200,000 | ||||
|
|
|||||||
17,791,062 | ||||||||
Oregon — 0.7% | ||||||||
Oregon State Facilities Authority RB, Series A, 5.00%, 11/15/21 |
65 | 65,110 | ||||||
State of Oregon Department of Transportation RB |
||||||||
Series A, 5.00%, 11/15/21 |
295 | 295,520 | ||||||
Series C, 5.00%, 11/15/21 |
400 | 400,704 | ||||||
State of Oregon GO, Series M, 5.00%, 11/01/21 |
1,075 | 1,075,000 | ||||||
|
|
|||||||
1,836,334 | ||||||||
Pennsylvania — 1.0% | ||||||||
Allegheny County Sanitary Authority RB, 5.00%, 12/01/21 |
225 | 225,867 | ||||||
Commonwealth of Pennsylvania GO |
||||||||
First Series, 5.00%, 11/15/21 |
475 | 475,833 | ||||||
First Series, 5.00%, 11/15/24 (PR 11/15/21) |
100 | 100,175 | ||||||
County of Chester PA GO |
||||||||
5.00%, 11/15/21 |
30 | 30,053 | ||||||
5.00%, 11/15/31 (PR 11/15/21) PR |
975 | 976,706 | ||||||
County of Dauphin PA GO, 5.00%, 11/15/21 |
130 | 130,225 | ||||||
Pennsylvania
Turnpike Commission RB |
20 | 19,994 | ||||||
Series A, 5.00%, 12/01/21 |
320 | 321,252 | ||||||
Series A-1, 5.00%, 12/01/21 |
100 | 100,388 | ||||||
Series B, 5.00%, 12/01/23 (PR 12/01/21) |
450 | 451,757 | ||||||
|
|
|||||||
2,832,250 | ||||||||
South Carolina — 0.2% | ||||||||
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/21 |
145 | 145,564 | ||||||
County of Charleston SC GO, Series A, 5.00%, 11/01/21 |
155 | 155,000 | ||||||
SCAGO Educational Facilities Corp. for Picknes School District RB, 5.00%, 12/01/21 |
65 | 65,250 | ||||||
South Carolina Public Service Authority RB |
||||||||
Series B, 4.00%, 12/01/21 |
55 | 55,169 | ||||||
Series B, 5.00%, 12/01/21 |
165 | 165,640 | ||||||
Series B, 5.00%, 12/01/21 (ETM) |
40 | 40,154 | ||||||
|
|
|||||||
626,777 | ||||||||
Tennessee — 0.4% | ||||||||
County of Sumner TN GO, 5.00%, 12/01/21 |
190 | 190,745 | ||||||
State of Tennessee GO, Series B, 5.00%, 11/01/21 |
75 | 75,000 | ||||||
Tennessee State School Bond Authority RB, Series B, 5.00%, 11/01/21 (ST INTERCEPT) |
770 | 770,000 | ||||||
|
|
|||||||
1,035,745 | ||||||||
Texas — 7.8% | ||||||||
Board of Regents of the University of Texas System RB, VRDN, 0.04%, 08/01/34 (Put 11/05/21)(a) |
5,000 | 5,000,000 | ||||||
City of Austin TX Electric Utility Revenue RB, Series A, 5.00%, 11/15/21 |
120 | 120,210 | ||||||
City
of Austin TX Water & Wastewater System Revenue
RB |
135 | 135,230 | ||||||
5.00%, 11/15/21 (ETM) |
100 | 100,171 | ||||||
Series A, 5.00%, 11/15/21 |
5 | 5,009 | ||||||
Series A, 5.00%, 11/15/21 (ETM) |
20 | 20,034 | ||||||
City of Houston TX Combined Utility System Revenue RB |
||||||||
VRDN,0.05%, 05/15/34 (Put 11/05/21)(a) |
2,000 | 2,000,000 | ||||||
Series B, 5.00%, 11/15/21 |
265 | 265,465 | ||||||
Series D, 5.00%, 11/15/21 |
245 | 245,429 | ||||||
Dallas Area Rapid Transit RB |
||||||||
Series A, 5.00%, 12/01/21 |
365 | 366,431 | ||||||
Series B, 4.00%, 12/01/21 |
140 | 140,436 |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Series B, 5.00%, 12/01/21 |
$ | 55 | $ | 55,216 | ||||
Dallas/Fort Worth International Airport RB |
||||||||
Series E, 5.00%, 11/01/21 |
150 | 150,000 | ||||||
Series F, 5.00%, 11/01/21 |
180 | 180,000 | ||||||
Series G, 5.00%, 11/01/21 |
85 | 85,000 | ||||||
Harris County Cultural Education Facilities Finance Corp. RB, Series A, 5.00%, 11/15/21 |
105 | 105,185 | ||||||
Metropolitan
Transit Authority of Harris County RB |
145 | 145,000 | ||||||
Series B, 5.00%, 11/01/21 |
230 | 230,000 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue RB, Series A, 5.00%, 11/01/41 (PR 11/01/21) |
8,000 | 8,000,000 | ||||||
Permanent University Fund - University of Texas System RB, Series A, VRDN,0.05%, 07/01/38 (Put 11/05/21)(a) |
1,860 | 1,860,000 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. RB, 5.00%, 12/01/21 |
90 | 90,349 | ||||||
University of Texas System (The) RB, Series B, VRDN,0.03%, 08/01/32 (Put 11/05/21)(a) |
2,345 | 2,345,000 | ||||||
|
|
|||||||
21,644,165 | ||||||||
Vermont — 0.2% | ||||||||
Vermont Municipal Bond Bank RB, Series 3, 5.00%, 12/01/21. |
565 | 567,206 | ||||||
|
|
|||||||
Virginia — 3.2% | ||||||||
City of Norfolk VA Water Revenue RB, 5.00%, 11/01/21 |
150 | 150,000 | ||||||
County of Loudoun VA GO |
||||||||
Series A, 5.00%, 12/01/21 |
40 | 40,157 | ||||||
Series A, 5.00%, 12/01/21 (SAW) |
645 | 647,528 | ||||||
Hampton Roads Sanitation District RB, 0.07%, 08/01/46 (Put 11/05/21)(a) |
6,000 | 6,000,000 | ||||||
Virginia College Building Authority RB, VRDN,0.03%, 11/01/36 (Put 11/05/21)(a) |
1,000 | 1,000,000 | ||||||
Virginia
Resources Authority RB |
405 | 405,000 | ||||||
Series B, 5.00%, 11/01/21 |
440 | 440,000 | ||||||
Series B, 5.00%, 11/01/21 (SAW) |
30 | 30,000 | ||||||
Series C, 5.00%, 11/01/21 |
100 | 100,000 | ||||||
|
|
|||||||
8,812,685 | ||||||||
Washington — 2.0% | ||||||||
Auburn School District No. 408 of King & Pierce Counties GO, Series B, 4.00%, 12/01/21 (GTD) |
75 | 75,234 | ||||||
Central Puget Sound Regional Transit Authority RB, Series S-1, 5.00%, 11/01/21 |
300 | 300,000 | ||||||
City of Bellevue WA GOL, 5.00%, 12/01/21 |
525 | 527,058 | ||||||
City of Seattle WA GO, 5.00%, 12/01/21 |
625 | 627,450 | ||||||
City of Seattle WA GOL, Series A, 5.00%, 11/01/21 |
425 | 425,000 | ||||||
City of Vancouver WA GOL, Series B, 5.00%, 12/01/21 |
245 | 245,960 | ||||||
County of Clark WA GOL, 5.00%, 12/01/21 |
50 | 50,196 | ||||||
County of King WA GO, 5.00%, 12/01/21 |
125 | 125,489 | ||||||
County
of King WA GOL |
60 | 60,235 | ||||||
Series B, 5.00%, 12/01/21 |
115 | 115,450 | ||||||
County of Snohomish WA GOL, 5.00%, 12/01/21 |
210 | 210,823 | ||||||
Franklin County School District No. 1 Pasco GO, 4.00%, 12/01/21 (GTD) |
180 | 180,556 | ||||||
King & Snohomish Counties School District No 417 Northshore, 5.00%, 12/01/21 (GTD) |
250 | 250,982 | ||||||
King & Snohomish Counties School District No 417 Northshore GO, 4.00%, 12/01/21 (GTD) |
1,000 | 1,003,123 |
SCHEDULE OF INVESTMENTS |
25 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2021 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value |
||||||
Washington (continued) | ||||||||
King County Public Hospital District No. 2 GO, 5.00%, 12/01/21 |
$ | 50 | $ | 50,195 | ||||
King County School District No. 405 Bellevue GO, Series A, 5.00%, 12/01/21 (GTD) |
175 | 175,685 | ||||||
Long Island Power Authority RB, 4.00%, 12/01/21 (GTD) |
225 | 225,706 | ||||||
Pierce County School District No. 416 White River GO, 5.00%, 12/01/21 (GTD) |
50 | 50,197 | ||||||
Pierce County School District No. 83 University Place GO, 4.00%, 12/01/21 (GTD) |
100 | 100,312 | ||||||
Snohomish County Public Utility District No. 1 RB, 4.00%, 12/01/21 |
195 | 195,609 | ||||||
Snohomish County School District No. 15 Edmonds GO, 5.00%, 12/01/21 (GTD) |
180 | 180,706 | ||||||
Snohomish
County School District No. 2 Everett GO |
100 | 100,311 | ||||||
5.00%, 12/01/21 (GTD) |
210 | 210,821 | ||||||
|
|
|||||||
5,487,098 | ||||||||
West Virginia — 0.2% | ||||||||
State
of West Virginia GO |
200 | 200,000 | ||||||
Series A, 5.00%, 11/01/21 |
385 | 385,000 | ||||||
|
|
|||||||
585,000 | ||||||||
Wisconsin — 0.6% | ||||||||
State of Wisconsin GO |
||||||||
Series 1, 5.00%, 11/01/21 |
445 | 445,000 | ||||||
Series 2, 4.00%, 11/01/21 |
335 | 335,000 |
Security | Par/ Shares (000) |
Value | ||||||
Wisconsin (continued) | ||||||||
Series 3, 5.00%, 11/01/21 |
$ | 705 | $ | 705,000 | ||||
Wisconsin Health & Educational Facilities Authority RB, 4.00%, 11/15/21 |
50 | 50,069 | ||||||
|
|
|||||||
1,535,069 | ||||||||
|
|
|||||||
Total
Municipal Debt Obligations — 98.3% |
271,741,150 | |||||||
|
|
|||||||
Short-Term Investments |
||||||||
Money Market Funds — 1.0% | ||||||||
BlackRock
Liquidity Funds: MuniCash, |
2,845 | 2,844,894 | ||||||
|
|
|||||||
Total
Short-Term Investments — 1.0% |
2,844,894 | |||||||
|
|
|||||||
Total
Investments in Securities — 99.3% |
274,586,044 | |||||||
Other Assets, Less Liabilities — 0.7% |
1,815,890 | |||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 276,401,934 | ||||||
|
|
(a) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
(b) |
Zero-coupon bond. |
(c) |
Affiliate of the Fund. |
(d) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 275,859 | $ | 2,569,125 | (a) | $ | — | $ | (109 | ) | $ | 19 | $ | 2,844,894 | 2,845 | $ | 307 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 271,741,150 | $ | — | $ | 271,741,150 | ||||||||
Money Market Funds |
2,844,894 | — | — | 2,844,894 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 2,844,894 | $ | 271,741,150 | $ | — | $ | 274,586,044 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
26 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations |
| |||||||
Alabama — 0.8% |
||||||||
Alabama
Federal Aid Highway Finance Authority RB |
$ | 375 | $ | 386,867 | ||||
5.00%, 09/01/22 |
100 | 103,994 | ||||||
5.00%, 09/01/23 (PR 09/01/22) |
150 | 155,991 | ||||||
Series A, 5.00%, 09/01/22 |
250 | 259,985 | ||||||
Alabama Public School & College Authority RB |
||||||||
Series A, 5.00%, 02/01/22 |
90 | 91,079 | ||||||
Series B, 5.00%, 05/01/22 |
410 | 419,859 | ||||||
Alabama Public School and College Authority RB, Series B, 5.00%, 01/01/22 |
570 | 574,533 | ||||||
City of Huntsville AL GOL, Series C, 5.00%, 11/01/22 |
170 | 178,140 | ||||||
City of Huntsville AL Water Revenue RB, 5.00%, 11/01/22 |
180 | 188,619 | ||||||
State of Alabama GO, Series A, 5.00%, 08/01/22 |
790 | 818,532 | ||||||
|
|
|||||||
3,177,599 | ||||||||
Alaska — 0.1% | ||||||||
Municipality of Anchorage AK GO, Series B, 5.00%, 09/01/22 |
255 | 265,163 | ||||||
|
|
|||||||
Arizona — 3.2% | ||||||||
Arizona Board of Regents COP |
||||||||
Series A, 5.00%, 06/01/22 |
140 | 143,851 | ||||||
Series B, 5.00%, 06/01/22 |
75 | 77,063 | ||||||
Series C, 5.00%, 06/01/22 |
140 | 143,726 | ||||||
Arizona Department of Transportation State Highway Fund Revenue RB |
||||||||
Series A, 5.00%, 07/01/22 |
745 | 768,823 | ||||||
Series A, 5.00%, 07/01/27 (PR 07/01/22) |
415 | 428,202 | ||||||
Series A, 5.00%, 07/01/34 (PR 07/01/22) |
1,100 | 1,135,370 | ||||||
Arizona State University RB |
||||||||
Series A, 5.00%, 07/01/22 |
265 | 273,474 | ||||||
Series B, 5.00%, 07/01/22 |
100 | 103,198 | ||||||
Arizona Transportation Board RB, 5.00%, 07/01/22 |
540 | 557,268 | ||||||
Arizona Water Infrastructure Finance Authority RB |
||||||||
Series A, 5.00%, 10/01/22 |
435 | 454,190 | ||||||
Series A, 5.00%, 10/01/22 (ETM) |
125 | 130,346 | ||||||
City of Chandler AZ GOL, 4.00%, 07/01/22 |
120 | 123,058 | ||||||
City of Chandler AZ RB, 5.00%, 07/01/22 |
140 | 144,458 | ||||||
City of Mesa AZ RB, 5.00%, 07/01/22 |
250 | 258,011 | ||||||
City of Phoenix AZ GO, 4.00%, 07/01/22 |
200 | 205,096 | ||||||
City of Phoenix AZ GOL, Series C, 4.00%, 07/01/22 |
525 | 538,378 | ||||||
City of Phoenix Civic Improvement Corp. RB |
||||||||
5.00%, 07/01/22 |
1,065 | 1,099,128 | ||||||
5.50%, 07/01/22 (NPFGC) |
200 | 207,072 | ||||||
Series A, 5.00%, 07/01/22 |
265 | 273,492 | ||||||
Series B, 5.00%, 07/01/22 |
760 | 784,355 | ||||||
City of Scottsdale AZ GO, Series B, 5.00%, 07/01/22 |
215 | 221,919 | ||||||
City of Tempe AZ GOL |
||||||||
Series B, 4.50%, 07/01/22 |
55 | 56,561 | ||||||
Series C, 4.00%, 07/01/22 |
105 | 107,633 | ||||||
City of Tucson AZ Water System Revenue RB |
||||||||
5.00%, 07/01/22 |
140 | 144,506 | ||||||
Series A, 5.00%, 07/01/22 |
45 | 46,448 | ||||||
County of Pima AZ GOL, 4.00%, 07/01/22 |
145 | 148,665 | ||||||
County of Pima AZ RB, 5.00%, 07/01/22 |
300 | 309,573 | ||||||
Gilbert Water Resource Municipal Property Corp. RB, 5.00%, 07/01/22 |
155 | 159,988 | ||||||
Maricopa County Community College District GO, 5.00%, 07/01/22 |
445 | 459,321 |
Security | Par (000) |
Value | ||||||
Arizona (continued) | ||||||||
Maricopa County High School District No. 210-Phoenix GO, Series E, 5.00%, 07/01/22 |
$ | 50 | $ | 51,602 | ||||
Maricopa County High School District No. 210-Phoenix GOL, 5.00%, 07/01/22 |
540 | 557,305 | ||||||
Pima County Regional Transportation Authority RB, 5.00%, 06/01/22 |
100 | 102,816 | ||||||
Salt River Project Agricultural Improvement & Power District RB |
||||||||
5.00%, 01/01/22 |
225 | 226,789 | ||||||
Series A, 5.00%, 01/01/22 |
110 | 110,875 | ||||||
Series A, 5.00%, 12/01/22 |
200 | 210,385 | ||||||
Scottsdale Municipal Property Corp. RB, 5.00%, 07/01/22 |
330 | 340,598 | ||||||
State of Arizona COP, 5.00%, 09/01/22 |
665 | 691,446 | ||||||
University of Arizona (The) RB |
||||||||
5.00%, 06/01/22 |
255 | 262,136 | ||||||
Series A, 5.00%, 06/01/22 |
100 | 102,798 | ||||||
|
|
|||||||
12,159,923 | ||||||||
Arkansas — 0.3% | ||||||||
State of Arkansas GO |
| |||||||
3.00%, 10/01/22 |
275 | 282,085 | ||||||
5.00%, 04/01/22 |
140 | 142,805 | ||||||
5.00%, 10/01/22 |
640 | 668,173 | ||||||
University of Arkansas RB, Series A, 5.00%, 11/01/22 |
135 | 141,478 | ||||||
|
|
|||||||
1,234,541 | ||||||||
California — 9.5% | ||||||||
Acalanes Union High School District GO, 5.00%, 08/01/22 |
210 | 217,601 | ||||||
Alameda Corridor Transportation Authority RB, Series A, 5.00%, 10/01/22 |
185 | 192,795 | ||||||
Alameda County Transportation Commission RB, 4.00%, 03/01/22 |
100 | 101,278 | ||||||
Alameda Unified School District-Alameda County/CA GO, Series A, 0.00%, 08/01/22 (AGM)(a) |
260 | 259,454 | ||||||
Benicia Unified School District GO, Series A, 0.00%, 08/01/22 (NPFGC)(a) |
25 | 24,946 | ||||||
Berkeley Unified School District/CA GO, 5.00%, 08/01/22 |
375 | 388,572 | ||||||
Beverly Hills Unified School District CA GO, 0.00%, 08/01/22(a) |
60 | 59,910 | ||||||
Burbank Unified School District GO, Series C, 0.00%, 08/01/22 (NPFGC)(a) |
90 | 89,630 | ||||||
California Health Facilities Financing Authority RB |
||||||||
Series A, 5.00%, 03/01/22 |
160 | 162,535 | ||||||
Series A, 5.00%, 10/01/22 |
165 | 172,248 | ||||||
Series C, VRDN,5.00%, 08/01/31 (Put 11/01/22)(b) |
355 | 371,926 | ||||||
California
Infrastructure & Economic Development Bank
RB |
100 | 103,150 | ||||||
Series A, 5.00%, 10/01/22 |
320 | 334,198 | ||||||
California State Public Works Board RB |
||||||||
Series A, 4.00%, 04/01/22 |
20 | 20,316 | ||||||
Series A, 5.00%, 04/01/22 |
130 | 132,591 | ||||||
Series A, 5.00%, 06/01/22 |
300 | 308,395 | ||||||
Series B, 5.00%, 10/01/22 |
430 | 448,888 | ||||||
Series C, 5.00%, 11/01/22 |
135 | 141,464 | ||||||
Series D, 5.00%, 09/01/22 |
560 | 582,367 | ||||||
Series D, 5.00%, 09/01/37 (PR 09/01/22) |
200 | 208,022 | ||||||
Series F, 5.00%, 05/01/22 |
260 | 266,239 | ||||||
Series G, 5.00%, 05/01/22 |
125 | 127,999 | ||||||
Series G, 5.00%, 11/01/22 |
95 | 99,569 | ||||||
Series H, 5.00%, 12/01/22 |
385 | 404,948 |
SCHEDULE OF INVESTMENTS |
27 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
California State University RB |
||||||||
Series A, 3.00%, 11/01/22 |
$ | 200 | $ | 205,655 | ||||
Series A, 5.00%, 11/01/22 |
560 | 586,989 | ||||||
Series C, 5.00%, 11/01/22 (AGM) |
30 | 31,446 | ||||||
Serise A, 5.00%, 11/01/22 |
250 | 262,048 | ||||||
California
Statewide Communities Development Authority
RB |
50 | 51,296 | ||||||
Series A, 5.00%, 05/15/22 |
100 | 102,593 | ||||||
Carlsbad Unified School District GO, 0.00%, 05/01/22 (NPFGC)(a) |
100 | 99,876 | ||||||
Chabot-Las Positas Community College District GO, 5.00%, 08/01/22 |
225 | 233,126 | ||||||
City & County of San Francisco CA COP, Series R-1, 5.00%, 09/01/22 |
75 | 78,008 | ||||||
City & County of San Francisco CA GO, Series R-1, 5.00%, 06/15/22 |
165 | 169,946 | ||||||
City of Foster City CA GO, 4.00%, 08/01/22 |
150 | 154,309 | ||||||
City of Los Angeles CA Wastewater System Revenue RB |
||||||||
Series B, 4.00%, 06/01/22 |
435 | 444,702 | ||||||
Series C, 5.00%, 06/01/22 |
60 | 61,686 | ||||||
City of Los Angeles Department of Airports RB |
||||||||
Series B, 5.00%, 05/15/22 |
50 | 51,301 | ||||||
Series C, 5.00%, 05/15/22 |
80 | 82,082 | ||||||
City of Riverside CA Sewer Revenue RB, Series A, 5.00%, 08/01/22 |
220 | 227,912 | ||||||
City of Sacramento CA Water Revenue RB, 5.00%, 09/01/22 |
80 | 83,216 | ||||||
City
of San Francisco CA Public Utilities Commission Water Revenue
RB |
50 | 51,907 | ||||||
5.00%, 11/01/22 |
295 | 309,187 | ||||||
City of Santa Clara CA Electric Revenue RB, Series A, 5.00%, 07/01/22 |
135 | 139,335 | ||||||
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/22 |
75 | 76,199 | ||||||
Contra Costa Water District RB, Series T, 4.00%, 10/01/22 |
400 | 413,957 | ||||||
Corona-Norco Unified School District GO, Series C, 0.00%, 08/01/22 (AGM)(a) |
100 | 99,753 | ||||||
County of Los Angeles CA COP, 5.00%, 09/01/22 |
130 | 134,970 | ||||||
County of Santa Clara CA GO, Series B, 5.00%, 08/01/22 |
40 | 41,448 | ||||||
Desert Community College District GO, 4.00%, 08/01/22 |
100 | 102,873 | ||||||
Dublin Unified School District GO, 5.00%, 08/01/22 |
200 | 207,239 | ||||||
East Bay Municipal Utility District Water System Revenue RB, Series B, 5.00%, 06/01/22 |
100 | 102,799 | ||||||
East Bay Regional Park District GO, Serise A, 4.00%, 09/01/22 |
100 | 103,190 | ||||||
East Side Union High School District GO, 5.00%, 08/01/22 |
140 | 145,067 | ||||||
El Camino Community College District Foundation (The) GO, 5.00%, 08/01/22 |
150 | 155,417 | ||||||
Encinitas Union School District/CA GO, 0.00%, 08/01/22(a) |
60 | 59,905 | ||||||
Evergreen School District GO, 5.00%, 09/01/22 |
100 | 104,020 | ||||||
Foothill-De Anza Community College District GO, 5.00%, 08/01/22 |
70 | 72,512 | ||||||
Fullerton School District GO, Series A, 0.00%, 08/01/22 (NPFGC)(a) |
80 | 79,814 | ||||||
Healdsburg Unified School District GO, Series A, 0.00%, 08/01/22(a) |
80 | 79,844 | ||||||
Las Virgenes Unified School District GO |
||||||||
0.00%, 11/01/22 (AGM)(a) |
55 | 54,868 | ||||||
Series D, 0.00%, 09/01/22 (NPFGC)(a) |
100 | 99,813 | ||||||
Los Altos Elementary School District GO, 4.00%, 08/01/22 |
25 | 25,718 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Los Angeles Community College District/CA GO |
||||||||
Series A, 5.00%, 08/01/22 |
$ | 130 | $ | 134,695 | ||||
Series G, 4.00%, 08/01/22 |
100 | 102,865 | ||||||
Series G, 5.00%, 08/01/22 |
125 | 129,515 | ||||||
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
Series A, 5.00%, 06/01/22 |
50 | 51,405 | ||||||
Series A, 5.00%, 07/01/22 |
825 | 851,492 | ||||||
Series B, 5.00%, 07/01/22 |
155 | 159,978 | ||||||
Serise A, 5.00%, 07/01/22 |
125 | 129,014 | ||||||
Los Angeles County Public Works Financing Authority RB, |
||||||||
Series D, 5.00%, 12/01/22 |
50 | 52,624 | ||||||
Los Angeles County Redevelopment Refunding Authority TA, |
||||||||
Series C, 5.00%, 12/01/22 |
25 | 26,214 | ||||||
Los Angeles Department of Water & Power Power System Revenue RB, Series A, 5.00%, 07/01/22 |
320 | 330,276 | ||||||
Los Angeles Department of Water & Power System Revenue RB |
||||||||
Series A, 4.00%, 07/01/22 |
90 | 92,293 | ||||||
Series A, 5.00%, 07/01/22 |
330 | 340,598 | ||||||
Series B, 5.00%, 07/01/22 |
220 | 227,050 | ||||||
Series C, 4.00%, 07/01/22 |
45 | 46,147 | ||||||
Los
Angeles Unified School District/CA GO |
460 | 474,678 | ||||||
Series A, 5.00%, 07/01/22 |
975 | 1,006,112 | ||||||
Series B, 5.00%, 07/01/22 |
455 | 469,519 | ||||||
Series B-1, 5.00%, 07/01/22 |
285 | 294,094 | ||||||
Series C, 5.00%, 07/01/22 |
205 | 211,541 | ||||||
Serise A, 5.00%, 07/01/22 |
80 | 82,553 | ||||||
Manhattan Beach Unified School District GO, Series B, 0.00%, 09/01/22 (NPFGC)(a) |
25 | 24,949 | ||||||
Metropolitan Water District of Southern California RB, Serise B, 5.00%, 07/01/22 |
350 | 361,288 | ||||||
Milpitas Redevelopment Agency Successor Agency TA, 5.00%, 09/01/22 |
155 | 160,740 | ||||||
Monterey Peninsula Community College District GO, 0.00%, 08/01/22(a) |
110 | 109,818 | ||||||
Morgan Hill Redevelopment Agency Successor Agency TA, Series A, 5.00%, 09/01/22 |
50 | 52,019 | ||||||
Mount Diablo Unified School District/CA GO, Series A, 0.00%, 08/01/22 (AGM)(a) |
160 | 159,652 | ||||||
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/22 |
185 | 193,916 | ||||||
New Haven Unified School District GO, 0.00%, 08/01/22 (AGM)(a) |
50 | 49,847 | ||||||
Novato Unified School District/CA GO, 4.00%, 02/01/22 |
80 | 80,766 | ||||||
Orange County Water District RB, Series C, 5.00%, 08/15/22 |
100 | 103,806 | ||||||
Oxnard Financing Authority RB, 5.00%, 06/01/22 |
20 | 20,550 | ||||||
Poway Redevelopment Agency Successor Agency TA, Series A, 5.00%, 06/15/22 |
25 | 25,740 | ||||||
Poway Unified School District GO, 5.00%, 08/01/22 |
15 | 15,541 | ||||||
Redwood City Elementary School District/CA GO, 0.00%, 08/01/22 (NPFGC)(a) |
40 | 39,833 | ||||||
Sacramento County Sanitation Districts Financing Authority RB |
||||||||
Series A, 5.00%, 12/01/22 |
200 | 210,407 | ||||||
Series A, 5.25%, 12/01/22 (NPFGC) |
145 | 152,936 | ||||||
Sacramento
Municipal Utility District RB |
60 | 61,931 | ||||||
Series D, 5.00%, 08/15/22 |
50 | 51,915 | ||||||
Series F, 5.00%, 08/15/22 |
250 | 259,576 |
28 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
San Diego County Water Authority Financing Corp. RB, 5.00%, 05/01/22 |
$ | 340 | $ | 348,210 | ||||
San Diego Regional Building Authority RB, Series A, 5.00%, 10/15/22 |
260 | 271,978 | ||||||
San Diego Unified School District/CA GO |
||||||||
Series A, 0.00%, 07/01/22 (NPFGC)(a) |
480 | 479,306 | ||||||
Series D-1, 5.50%, 07/01/22 (NPFGC) |
200 | 207,072 | ||||||
Series D-2, 5.00%, 07/01/22 |
435 | 448,940 | ||||||
Series H-2, 5.00%, 07/01/22 |
175 | 180,608 | ||||||
San Francisco Bay Area Rapid Transit District Sales Tax Revenue RB, Series A, 5.00%, 07/01/22 |
75 | 77,414 | ||||||
San Francisco City & County Airport Commission San Francisco International Airport RB |
||||||||
Series A, 5.00%, 05/01/22 |
125 | 128,024 | ||||||
Series D, 5.00%, 05/01/22 |
250 | 256,048 | ||||||
San Joaquin Delta Community College District GO, Series A, 5.00%, 08/01/22 |
115 | 119,162 | ||||||
San Jose Evergreen Community College District GO, Serise B, 4.00%, 09/01/22 |
100 | 103,190 | ||||||
San Jose Financing Authority RB, Series A, 5.00%, 06/01/22 |
50 | 51,405 | ||||||
San Juan Unified School District GO, 0.00%, 08/01/22 (AGM)(a) |
125 | 124,803 | ||||||
San Mateo County Community College District GO 4.00%, 09/01/22 |
30 | 30,957 | ||||||
Series A, 0.00%, 09/01/22 (NPFGC)(a) |
175 | 174,659 | ||||||
San Rafael City High School District/CA GO, Series B, 0.00%, 08/01/22 (NPFGC)(a) |
100 | 99,783 | ||||||
San Rafael Redevelopment Agency TA, 0.00%, 12/01/22 (AMBAC)(a) |
75 | 74,727 | ||||||
San
Ramon Valley Unified School District/CA GO |
110 | 113,160 | ||||||
5.00%, 08/01/22 |
110 | 113,981 | ||||||
Santa Ana Unified School District GO, Series B, 0.00%, 08/01/22 (NPFGC)(a) |
40 | 39,874 | ||||||
Santa Clara County Financing Authority RB, Series A, 5.00%, 11/15/22 |
415 | 435,677 | ||||||
Santa Clara Valley Water District COP, Series C, 5.00%, 06/01/22 |
125 | 128,476 | ||||||
Santa Monica Community College District GO |
||||||||
Series A, 5.00%, 08/01/22 |
100 | 103,619 | ||||||
Series E, 0.00%, 08/01/22(a) |
50 | 49,895 | ||||||
Santa Monica-Malibu Unified School District, Series E, 4.00%, 08/01/22 |
150 | 154,298 | ||||||
Santa Monica-Malibu Unified School District GO, 0.00%, 08/01/22 (NPFGC)(a) |
55 | 54,917 | ||||||
Saratoga Union School District GO, Series A, 0.00%, 09/01/22 (NPFGC)(a) |
170 | 169,627 | ||||||
Sierra Joint Community College District School Facilities |
||||||||
District No. 2 GO, Series B, 0.00%, 08/01/22 (NPFGC)(a) |
50 | 49,906 | ||||||
Sonoma County Junior College District GO, 5.00%, 08/01/22 |
115 | 119,162 | ||||||
Southern California Public Power Authority RB, Series A, 5.00%, 07/01/22 |
115 | 118,685 | ||||||
State of California Department of Water Resources Power Supply Revenue RB |
||||||||
Series O, 4.00%, 05/01/22 |
135 | 137,595 | ||||||
Series O, 5.00%, 05/01/22 |
525 | 537,702 | ||||||
State of California Department of Water Resources RB |
||||||||
Series AM, 5.00%, 12/01/22 |
290 | 305,090 | ||||||
Series AR, 5.00%, 12/01/22 |
65 | 68,382 | ||||||
Series AS, 5.00%, 12/01/22 |
75 | 78,903 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Series AW, 5.00%, 12/01/22 |
$ | 105 | $ | 110,464 | ||||
Series AX, 5.00%, 12/01/22 |
100 | 105,204 | ||||||
State of California GO |
||||||||
3.00%, 10/01/22 |
140 | 143,607 | ||||||
4.00%, 02/01/22 |
70 | 70,666 | ||||||
4.00%, 09/01/22 |
95 | 98,014 | ||||||
4.00%, 10/01/22 |
125 | 129,362 | ||||||
5.00%, 02/01/22 |
755 | 764,051 | ||||||
5.00%, 03/01/22 |
70 | 71,121 | ||||||
5.00%, 04/01/22 |
850 | 867,030 | ||||||
5.00%, 05/01/22 |
435 | 445,460 | ||||||
5.00%, 08/01/22 |
300 | 310,812 | ||||||
5.00%, 09/01/22 |
2,950 | 3,068,075 | ||||||
5.00%, 10/01/22 |
935 | 976,158 | ||||||
5.00%, 11/01/22 |
310 | 324,877 | ||||||
5.00%, 12/01/22 |
220 | 231,423 | ||||||
5.25%, 09/01/22 |
115 | 119,841 | ||||||
5.25%, 10/01/22 |
590 | 617,318 | ||||||
Series A, 5.00%, 09/01/22 |
285 | 296,407 | ||||||
Series A, 5.00%, 10/01/22 |
100 | 104,402 | ||||||
Series B, 5.00%, 08/01/22 |
480 | 497,299 | ||||||
Series B, 5.00%, 09/01/22 |
1,200 | 1,248,031 | ||||||
Torrance Unified School District GO, 5.00%, 08/01/22 |
40 | 41,448 | ||||||
University of California RB |
||||||||
Series AO, 4.00%, 05/15/22 |
20 | 20,412 | ||||||
Series AO, 5.00%, 05/15/22 |
245 | 251,362 | ||||||
Series AR, 4.00%, 05/15/22 |
75 | 76,546 | ||||||
Series G, 5.00%, 05/15/22 |
140 | 143,635 | ||||||
Ventura
County Community College District GO |
105 | 108,800 | ||||||
Series C, 0.00%, 08/01/22(a) |
250 | 249,345 | ||||||
West Valley-Mission Community College District GO, Series A, 4.00%, 08/01/22 |
175 | 180,027 | ||||||
William S Hart Union High School District GO, Series B, 0.00%, 09/01/22 (AGM)(a) |
25 | 24,935 | ||||||
|
|
|||||||
35,804,327 | ||||||||
Colorado — 1.2% | ||||||||
Board of Governors of Colorado State University System RB |
||||||||
Series A, 5.00%, 03/01/22 |
210 | 213,356 | ||||||
Series B, 5.00%, 03/01/22 |
250 | 253,995 | ||||||
City & County of Denver CO Airport System Revenue RB, Series B, 5.00%, 11/15/22 |
325 | 341,193 | ||||||
City & County of Denver CO GO, 0.00%, 01/29/22(a) |
20 | 19,992 | ||||||
City & County of Denver CO RB, Series A, 5.00%, 08/01/22 |
120 | 124,232 | ||||||
City & County of Denver Co. GO, Series A, 5.00%, 08/01/22 |
100 | 103,604 | ||||||
City of Colorado Springs CO Utilities System Revenue RB, Series A, 5.00%, 11/15/22 |
190 | 199,426 | ||||||
Denver City & County School District No. 1 GO |
||||||||
Series B, 4.00%, 12/01/22 (SAW) |
275 | 286,373 | ||||||
Series B, 4.00%, 12/01/28 (PR 12/01/22) (SAW) |
1,100 | 1,145,126 | ||||||
Series B, 5.00%, 12/01/25 (PR 12/01/22) (SAW) |
225 | 236,658 | ||||||
Series B, 5.00%, 12/01/26 (PR 12/01/22) (SAW) |
480 | 504,870 | ||||||
Series B, 5.00%, 12/01/31 (PR 12/01/22) (SAW) |
465 | 489,092 | ||||||
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/22 (NPFGC)(a) |
90 | 89,761 | ||||||
Summit County School District No. Re-1 Summit GO, 5.00%, 12/01/22 (SAW) |
75 | 78,911 | ||||||
University of Colorado RB |
||||||||
Serise A-1, 4.00%, 06/01/22 |
120 | 122,676 | ||||||
Serise A-1, 4.00%, 06/01/22 (ETM) |
100 | 102,189 |
SCHEDULE OF INVESTMENTS |
29 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Colorado (continued) | ||||||||
Serise B, 5.00%, 06/01/22 |
$ | 175 | $ | 179,918 | ||||
Serise B, 5.00%, 06/01/22 (ETM) |
5 | 5,138 | ||||||
|
|
|||||||
4,496,510 | ||||||||
Connecticut — 1.7% | ||||||||
City of Stamford CT GO, Series B, 5.00%, 07/01/22 |
195 | 201,209 | ||||||
Connecticut State Health & Educational Facilities Authority RB |
||||||||
Series A-1, VRDN,5.00%, 07/01/42(b) |
645 | 665,581 | ||||||
Series A-2, VRDN,5.00%, 07/01/42(b) |
350 | 361,168 | ||||||
Series E, 5.00%, 07/01/22 |
150 | 154,786 | ||||||
State of Connecticut GO |
||||||||
Series A, 4.00%, 03/01/22 |
50 | 50,639 | ||||||
Series A, 5.00%, 10/15/22 |
570 | 596,203 | ||||||
Series C, 5.00%, 06/01/22 |
130 | 133,661 | ||||||
Series C, 5.00%, 06/15/22 |
90 | 92,704 | ||||||
Series D, 5.00%, 06/15/22 |
20 | 20,601 | ||||||
Series D, 5.00%, 08/15/22 |
240 | 249,135 | ||||||
Series E, 5.00%, 08/15/22 |
175 | 181,661 | ||||||
Series E, 5.00%, 10/15/22 |
670 | 700,800 | ||||||
Series F, 4.00%, 11/15/22 |
675 | 701,647 | ||||||
Series F, 5.00%, 11/15/22 |
130 | 136,477 | ||||||
Serise F, 5.00%, 09/15/22 |
300 | 312,621 | ||||||
State of Connecticut Special Tax Revenue RB |
||||||||
Series A, 5.00%, 01/01/22 |
290 | 292,316 | ||||||
Series A, 5.00%, 08/01/22 |
130 | 134,705 | ||||||
Series A, 5.00%, 09/01/22 |
465 | 483,692 | ||||||
Series A, 5.00%, 10/01/22 |
210 | 219,264 | ||||||
Series B, 5.00%, 08/01/22 |
135 | 139,886 | ||||||
Series S, 5.00%, 01/01/22 |
170 | 171,358 | ||||||
University of Connecticut RB |
||||||||
Series A, 5.00%, 02/15/22 |
105 | 106,456 | ||||||
Series A, 5.00%, 08/15/22 |
125 | 129,737 | ||||||
|
|
|||||||
6,236,307 | ||||||||
Delaware — 0.8% | ||||||||
City of Wilmington DE GO, 4.00%, 06/01/22 |
115 | 117,565 | ||||||
Delaware River & Bay Authority RB, Series B, 5.00%, 01/01/22 |
170 | 171,329 | ||||||
Delaware
Transportation Authority RB |
345 | 354,675 | ||||||
5.00%, 07/01/22 |
865 | 892,838 | ||||||
State of Delaware GO |
||||||||
Series A, 5.00%, 10/01/22 |
300 | 313,206 | ||||||
Series B, 5.00%, 07/01/22 |
275 | 283,813 | ||||||
Series C, 5.00%, 03/01/22 |
785 | 797,599 | ||||||
University of Delaware RB, Series A, 5.00%, 11/01/22 |
105 | 110,061 | ||||||
|
|
|||||||
3,041,086 | ||||||||
District of Columbia — 1.1% | ||||||||
District of Columbia GO |
||||||||
Series A, 5.00%, 06/01/22 |
1,050 | 1,079,510 | ||||||
Series B, 5.00%, 06/01/22 |
100 | 102,810 | ||||||
Series D, 5.00%, 06/01/22 |
125 | 128,513 | ||||||
Series E, 5.00%, 06/01/22 |
155 | 159,356 | ||||||
District
of Columbia RB |
75 | 77,489 | ||||||
Series A, 4.00%, 12/01/22 |
195 | 203,021 | ||||||
Series A, 5.00%, 12/01/22 |
515 | 541,741 | ||||||
Series C, 4.00%, 12/01/22 |
150 | 156,170 | ||||||
Series C, 5.00%, 10/01/22 |
125 | 130,502 | ||||||
Series C, 5.00%, 12/01/22 |
210 | 220,904 |
Security | Par (000) |
Value | ||||||
District of Columbia (continued) | ||||||||
District of Columbia Water & Sewer Authority RB |
||||||||
Series A, 5.00%, 10/01/22 |
$ | 175 | $ | 182,687 | ||||
Series C, 5.00%, 10/01/22 |
415 | 433,229 | ||||||
Metropolitan Washington Airports Authority Aviation Revenue RB, Series C, 5.00%, 10/01/22 |
505 | 526,896 | ||||||
Washington Metropolitan Area Transit Authority RB, Series B, 5.00%, 07/01/22 |
125 | 128,997 | ||||||
|
|
|||||||
4,071,825 | ||||||||
Florida — 4.6% | ||||||||
Board of Governors State University System of Florida RB, Series A, 5.00%, 07/01/22 |
50 | 51,589 | ||||||
Broward County FL Water & Sewer Utility Revenue RB, Series B, 5.00%, 10/01/22 |
405 | 422,828 | ||||||
Central Florida Expressway Authority RB, Series B, 4.00%, 07/01/22 |
55 | 56,364 | ||||||
City
of Jacksonville FL RB |
330 | 344,527 | ||||||
Series A, 4.00%, 10/01/22 |
50 | 51,735 | ||||||
Series A, 5.00%, 10/01/22 |
100 | 104,383 | ||||||
Series C, 5.00%, 10/01/22 |
100 | 104,383 | ||||||
City of Tallahassee FL Energy System Revenue RB, 5.00%, 10/01/22 |
70 | 73,068 | ||||||
City
of Tampa FL RB |
230 | 240,059 | ||||||
Series A, 5.00%, 10/01/22 |
140 | 146,123 | ||||||
Series B, 5.00%, 10/01/22 |
75 | 78,280 | ||||||
County of Broward FL Airport System Revenue RB |
||||||||
Series C, 5.00%, 10/01/22 |
245 | 255,600 | ||||||
Series P-2, 5.00%, 10/01/22 |
170 | 177,355 | ||||||
Series Q-1, 5.00%, 10/01/22 |
50 | 52,163 | ||||||
County of Hillsborough FL Community Investment Tax Revenue RB, 5.00%, 11/01/22 |
160 | 167,562 | ||||||
County of Lee FL Transportation Facilities Revenue RB, 5.00%, 10/01/22 (AGM) |
100 | 104,260 | ||||||
County of Miami-Dade FL Aviation Revenue RB, Series B, 5.00%, 10/01/22 |
575 | 600,311 | ||||||
County of Miami-Dade FL GO, 5.00%, 07/01/22 |
140 | 144,477 | ||||||
County of Miami-Dade FL RB, Series A, 5.00%, 10/01/22 |
135 | 140,853 | ||||||
County of Miami-Dade FL Transit System RB, 5.00%, 07/01/22 |
300 | 309,224 | ||||||
County of Miami-Dade FL Water & Sewer System Revenue RB 5.00%, 10/01/22 |
235 | 245,322 | ||||||
Series A, 4.38%, 10/01/22 (AGM) |
100 | 103,822 | ||||||
Series B, 5.25%, 10/01/22 (AGM) |
525 | 549,259 | ||||||
County of Orange FL Sales Tax Revenue RB, Series C, 5.00%, 01/01/22 |
195 | 196,551 | ||||||
County
of Palm Beach FL RB |
60 | 61,437 | ||||||
5.00%, 06/01/22 |
100 | 102,793 | ||||||
5.00%, 11/01/22 |
45 | 47,159 | ||||||
Series A, 5.00%, 11/01/22 |
50 | 52,399 | ||||||
County of Palm Beach FL Water & Sewer Revenue RB, 4.00%, 10/01/22 |
30 | 31,044 | ||||||
County of Pasco FL Water & Sewer Revenue RB, Series A, 5.00%, 10/01/22 |
80 | 83,484 | ||||||
County of Sarasota FL RB, 5.00%, 10/01/22 |
55 | 57,421 | ||||||
Florida Department of Environmental Protection RB |
||||||||
Series A, 5.00%, 07/01/22 |
1,075 | 1,109,155 | ||||||
Serise A, 5.00%, 07/01/22 |
150 | 154,766 |
30 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Florida (continued) | ||||||||
Florida Department of Management Services COP, Series A, 5.00%, 08/01/22 |
$ | 295 | $ | 305,586 | ||||
Florida Municipal Power Agency RB, Series A, 5.00%, 10/01/22 |
325 | 339,092 | ||||||
Florida State University Housing Facility Revenue RB, Series A, 5.00%, 05/01/22 |
250 | 255,961 | ||||||
Florida’s Turnpike Enterprise RB |
||||||||
Series A, 5.00%, 07/01/22 |
715 | 737,962 | ||||||
Series B, 5.00%, 07/01/22 |
540 | 557,341 | ||||||
Series C, 5.00%, 07/01/22 |
200 | 206,423 | ||||||
Jacksonville Transportation Authority RB, 5.00%, 08/01/22 |
230 | 238,059 | ||||||
JEA Electric System Revenue RB, Series A, 5.00%, 10/01/22 |
80 | 83,476 | ||||||
JEA Water & Sewer System Revenue RB, Series A, 5.00%, 10/01/22 |
140 | 146,119 | ||||||
Miami-Dade County Educational Facilities Authority Revenue RB, Series B, 5.25%, 04/01/22 (AMBAC) |
65 | 66,301 | ||||||
Miami-Dade
County Expressway Authority RB |
80 | 82,471 | ||||||
Series B, 5.00%, 07/01/22 |
265 | 273,185 | ||||||
Orange County School Board COP, Series D, 5.00%, 08/01/22 . |
290 | 300,340 | ||||||
Orlando Utilities Commission RB |
||||||||
Series A, 5.00%, 10/01/22 |
340 | 354,999 | ||||||
Series C, 4.00%, 10/01/22 |
175 | 181,123 | ||||||
Series C, 5.00%, 10/01/22 |
255 | 266,249 | ||||||
Series C, 5.25%, 10/01/22 |
130 | 136,032 | ||||||
Orlando-Orange County Convention Center RB, 5.00%, 10/01/22 |
270 | 281,758 | ||||||
Orlando-Orange County Expressway Authority RB 5.00%, 07/01/22 |
275 | 283,719 | ||||||
Series B, 5.00%, 07/01/22 |
220 | 226,975 | ||||||
Series B, 5.00%, 07/01/22 (AGM) |
185 | 190,928 | ||||||
Palm Beach County School District COP |
||||||||
Series B, 5.00%, 08/01/22 |
250 | 258,952 | ||||||
Series D, 5.00%, 08/01/22 |
375 | 388,370 | ||||||
Reedy
Creek Improvement District GOL |
120 | 123,330 | ||||||
Series A, 5.00%, 06/01/22 |
65 | 66,804 | ||||||
Series B, 4.00%, 06/01/22 |
160 | 163,512 | ||||||
School Board of Miami-Dade County (The) COP |
||||||||
Series A, 5.00%, 05/01/22 |
315 | 322,574 | ||||||
Series D, 5.00%, 02/01/22 |
65 | 65,781 | ||||||
Series D, 5.00%, 11/01/22 |
160 | 167,695 | ||||||
School
Board of Miami-Dade County (The) GO, |
130 | 132,311 | ||||||
School District of Broward County/FL COP |
||||||||
Series A, 5.00%, 07/01/22 |
425 | 438,415 | ||||||
Series B, 5.00%, 07/01/22 |
20 | 20,631 | ||||||
Series C, 5.00%, 07/01/22 |
250 | 257,892 | ||||||
State of Florida Department of Transportation RB, 5.00%, 07/01/22 |
75 | 77,414 | ||||||
State of Florida GO |
||||||||
Series A, 5.00%, 06/01/22 |
640 | 657,948 | ||||||
Series A, 5.00%, 07/01/22 |
95 | 98,031 | ||||||
Series B, 5.00%, 06/01/22 |
490 | 503,742 | ||||||
Series C, 5.00%, 06/01/22 |
575 | 591,125 | ||||||
Series E, 5.00%, 06/01/22 |
80 | 82,244 | ||||||
State of Florida Lottery Revenue RB |
||||||||
Series A, 5.00%, 07/01/22 |
1,010 | 1,042,366 | ||||||
Series B, 5.00%, 07/01/22 |
90 | 92,884 |
Security | Par (000) |
Value | ||||||
Florida (continued) | ||||||||
Volusia County School Board COP, Series A, 5.00%, 08/01/22 . |
$ | 115 | $ | 119,091 | ||||
|
|
|||||||
17,604,967 | ||||||||
Georgia — 2.0% | ||||||||
City of Atlanta GA Airport Passenger Facility Charge RB, Series F, 5.00%, 07/01/22 |
150 | 154,827 | ||||||
City
of Atlanta GA Water & Wastewater Revenue
RB |
700 | 733,663 | ||||||
Series B, 5.00%, 11/01/22 |
150 | 157,214 | ||||||
Georgia State Road & Tollway Authority RB |
||||||||
Series A, 5.00%, 06/01/22 |
175 | 179,876 | ||||||
Series B, 5.00%, 10/01/22 (GTD) |
150 | 156,617 | ||||||
Gwinnett County Development Authority COP, 5.25%, 01/01/22 (NPFGC) |
85 | 85,717 | ||||||
Gwinnett County School District GO, 5.00%, 02/01/22 |
370 | 374,445 | ||||||
Gwinnett County Water & Sewerage Authority RB, 5.00%, 08/01/22 |
500 | 518,058 | ||||||
Metropolitan Atlanta Rapid Transit Authority RB, Series A, 5.00%, 07/01/30 (PR 07/01/22) |
2,015 | 2,079,434 | ||||||
Municipal Electric Authority of Georgia RB, Series A, 5.00%, 11/01/22 |
135 | 141,270 | ||||||
State of Georgia GO |
||||||||
Series A, 5.00%, 02/01/22 |
125 | 126,502 | ||||||
Series A-1, 5.00%, 02/01/22 |
215 | 217,583 | ||||||
Series C, 4.00%, 09/01/22 |
405 | 417,885 | ||||||
Series C, 4.00%, 10/01/22 |
1,215 | 1,257,509 | ||||||
Series E, 5.00%, 12/01/22 |
250 | 263,009 | ||||||
Serise H, 5.00%, 12/01/22 |
650 | 683,823 | ||||||
|
|
|||||||
7,547,432 | ||||||||
Hawaii — 2.5% | ||||||||
City & County Honolulu HI Wastewater System Revenue RB |
||||||||
Series A, 5.00%, 07/01/22 |
175 | 180,587 | ||||||
Series A, 5.00%, 07/01/25 (PR 07/01/22) |
1,155 | 1,191,934 | ||||||
Series A, 5.00%, 07/01/30 (PR 07/01/22) |
125 | 128,997 | ||||||
Series B, 5.00%, 07/01/22 |
120 | 123,854 | ||||||
City & County of Honolulu HI GO |
||||||||
Series A, 5.00%, 10/01/22 |
230 | 240,168 | ||||||
Series A, 5.00%, 11/01/22 (ETM) |
25 | 26,197 | ||||||
Series A, 5.00%, 11/01/25 (PR 11/01/22) |
2,000 | 2,095,769 | ||||||
Series A, 5.00%, 11/01/33 (PR 11/01/22) |
1,175 | 1,231,264 | ||||||
Series B, 5.00%, 09/01/22 |
50 | 52,010 | ||||||
Series B, 5.00%, 10/01/22 (ETM) |
125 | 130,526 | ||||||
Series B, 5.00%, 11/01/22 |
225 | 235,844 | ||||||
Series C, 5.00%, 10/01/22 |
220 | 229,726 | ||||||
Series E, 3.00%, 09/01/22 |
100 | 102,360 | ||||||
County of Hawaii HI GO |
||||||||
Series A, 5.00%, 09/01/22 |
145 | 150,816 | ||||||
Series B, 5.00%, 09/01/22 |
370 | 384,841 | ||||||
Honolulu City & County Board of Water Supply RB, Series A, 5.00%, 07/01/22 |
20 | 20,640 | ||||||
State of Hawaii GO |
||||||||
Series EE, 4.00%, 11/01/22 (ETM) |
35 | 36,327 | ||||||
Series EE, 5.00%, 11/01/23 (PR 11/01/22) |
580 | 607,773 | ||||||
Series EE, 5.00%, 11/01/27 (PR 11/01/22) |
115 | 120,507 | ||||||
Series EF, 5.00%, 11/01/22 |
220 | 230,625 | ||||||
Series EO, 5.00%, 08/01/22 |
150 | 155,440 | ||||||
Series EP, 5.00%, 08/01/22 |
150 | 155,440 | ||||||
Series EX, 3.00%, 10/01/22 |
150 | 153,907 | ||||||
Series EZ, 5.00%, 10/01/22 |
175 | 182,753 | ||||||
Series FE, 5.00%, 10/01/22 |
355 | 370,728 |
SCHEDULE OF INVESTMENTS |
31 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Hawaii (continued) | ||||||||
Series FG, 5.00%, 10/01/22 |
$ | 110 | $ | 114,873 | ||||
Series FH, 5.00%, 10/01/22 |
455 | 475,158 | ||||||
Series FN, 5.00%, 10/01/22 |
70 | 73,101 | ||||||
Series FT, 5.00%, 01/01/22 |
225 | 226,801 | ||||||
University of Hawaii RB, Series D, 5.00%, 10/01/22 |
205 | 214,024 | ||||||
|
|
|||||||
9,642,990 | ||||||||
Idaho — 0.1% | ||||||||
Idaho
Housing & Finance Association RB |
150 | 155,010 | ||||||
Series B, 5.00%, 07/15/22 |
205 | 211,848 | ||||||
|
|
|||||||
366,858 | ||||||||
Illinois — 2.0% | ||||||||
Chicago
O’Hare International Airport RB |
350 | 352,792 | ||||||
Series C, 5.00%, 01/01/22 |
380 | 383,006 | ||||||
Series D, 5.00%, 01/01/22 |
275 | 277,194 | ||||||
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/22 |
100 | 102,656 | ||||||
Illinois
Finance Authority RB |
100 | 100,633 | ||||||
5.00%, 07/01/22 |
180 | 185,780 | ||||||
5.00%, 10/01/22 |
25 | 26,084 | ||||||
Series A, 5.00%, 10/01/22 |
230 | 240,059 | ||||||
Illinois
State Toll Highway Authority RB |
645 | 677,841 | ||||||
Series D, 5.00%, 01/01/22 |
125 | 125,975 | ||||||
Metropolitan Pier & Exposition Authority RB, 5.65%, 06/15/22 (ETM NPFGC) |
5 | 5,165 | ||||||
Regional Transportation Authority RB, Series A, 5.50%, 07/01/22 (NPFGC) |
55 | 56,926 | ||||||
State of Illinois GO 0.00%, 08/01/22(a) |
100 | 99,545 | ||||||
4.00%, 02/01/22 |
55 | 55,513 | ||||||
4.00%, 09/01/22 |
100 | 103,045 | ||||||
5.00%, 02/01/22 |
610 | 617,191 | ||||||
5.00%, 05/01/22 |
370 | 378,671 | ||||||
5.00%, 08/01/22 (AGM) |
200 | 207,101 | ||||||
Series A, 4.00%, 01/01/22 |
280 | 281,737 | ||||||
Series A, 5.00%, 10/01/22 |
535 | 557,710 | ||||||
Series A, 5.00%, 12/01/22 |
500 | 524,922 | ||||||
Series B, 5.00%, 09/01/22 |
300 | 311,621 | ||||||
Series B, 5.00%, 10/01/22 |
170 | 177,216 | ||||||
Series C, 4.00%, 03/01/22 |
70 | 70,869 | ||||||
Series D, 5.00%, 11/01/22 |
800 | 836,941 | ||||||
State of Illinois RB, Series C, 5.00%, 06/15/22 |
100 | 102,923 | ||||||
State of Illinois Sales Tax Revenue RB, 5.00%, 06/15/22 |
400 | 411,671 | ||||||
University of Illinois RB, Series A, 5.00%, 04/01/22 |
105 | 107,082 | ||||||
|
|
|||||||
7,377,869 | ||||||||
Indiana — 0.6% | ||||||||
Ball
State University RB |
45 | 46,442 | ||||||
Series R, 5.00%, 07/01/22 |
325 | 335,415 | ||||||
Indiana Finance Authority RB |
||||||||
Series A, 5.00%, 02/01/22 |
125 | 126,502 | ||||||
Series A, 5.00%, 06/01/22 |
100 | 102,804 | ||||||
Series A, 5.00%, 10/01/22 |
155 | 161,764 | ||||||
Series A, 5.00%, 12/01/22 |
210 | 220,904 | ||||||
Series B, 5.00%, 02/01/22 |
235 | 237,823 | ||||||
Serise A, 5.00%, 12/01/22 |
145 | 152,529 |
Security | Par (000) |
Value | ||||||
Indiana (continued) | ||||||||
Indiana Transportation Finance Authority RB, Series B, 5.75%, 12/01/22 |
$ | 115 | $ | 121,915 | ||||
Indiana
University RB |
390 | 400,961 | ||||||
Series Y, 5.00%, 08/01/22 |
85 | 88,070 | ||||||
Indianapolis
Local Public Improvement Bond Bank RB |
25 | 25,218 | ||||||
Series E, 0.00%, 02/01/22 (AMBAC)(a) |
50 | 49,976 | ||||||
Purdue University RB, Series A, 5.00%, 07/01/22 |
140 | 144,496 | ||||||
|
|
|||||||
2,214,819 | ||||||||
Iowa — 0.5% | ||||||||
Ankeny Community School District GO, Series A, 4.00%, 06/01/22 |
25 | 25,552 | ||||||
City of Cedar Rapids IA GO, Series A, 5.00%, 06/01/22 |
125 | 128,505 | ||||||
City of Des Moines IA GO |
||||||||
Series B, 5.00%, 06/01/22 |
205 | 210,737 | ||||||
Series E, 5.00%, 06/01/22 |
195 | 200,457 | ||||||
Des
Moines Independent Community School District RB, |
60 | 61,683 | ||||||
Iowa City Community School District RB, 5.00%, 06/01/22 |
120 | 123,265 | ||||||
Iowa Finance Authority RB, 5.00%, 08/01/22 |
405 | 419,658 | ||||||
State of Iowa Board of Regents RB, 4.00%, 09/01/22 |
215 | 221,712 | ||||||
State of Iowa RB, Series A, 5.00%, 06/01/22 |
645 | 663,127 | ||||||
|
|
|||||||
2,054,696 | ||||||||
Kansas — 0.5% | ||||||||
City of Overland Park KS GO, Series A, 5.00%, 09/01/22 |
175 | 181,989 | ||||||
Johnson County Public Building Commission RB, Series B, 5.00%, 09/01/22 |
270 | 280,691 | ||||||
State
of Kansas Department of Transportation RB |
840 | 873,549 | ||||||
Series B, 5.00%, 09/01/22 |
135 | 140,392 | ||||||
Series C, 5.00%, 09/01/22 |
100 | 103,994 | ||||||
Wyandotte County-Kansas City Unified Government Utility System Revenue RB, Series A, 5.00%, 09/01/22 |
125 | 129,768 | ||||||
|
|
|||||||
1,710,383 | ||||||||
Kentucky — 0.0% | ||||||||
Kentucky State Property & Building Commission RB, Series B, 5.00%, 11/01/22 |
100 | 104,696 | ||||||
|
|
|||||||
Louisiana — 0.6% | ||||||||
East Baton Rouge Sewerage Commission RB, Series B, 5.00%, 02/01/22 |
50 | 50,594 | ||||||
Louisiana Office Facilities Corp. RB, 5.00%, 11/01/22 |
110 | 115,097 | ||||||
State
of Louisiana Gasoline & Fuels Tax Revenue RB |
70 | 71,335 | ||||||
Series A-1, 5.00%, 05/01/22 |
105 | 107,525 | ||||||
State
of Louisiana GO |
145 | 150,226 | ||||||
Series A, 5.00%, 09/01/22 |
100 | 104,003 | ||||||
Series A, 5.00%, 08/01/26 (PR 08/01/22) |
185 | 191,653 | ||||||
Series B, 5.00%, 08/01/22 |
50 | 51,802 | ||||||
Series B, 5.00%, 10/01/22 |
115 | 120,062 | ||||||
Series C, 4.00%, 07/15/22 |
160 | 164,302 | ||||||
Series C, 5.00%, 07/15/22 |
100 | 103,391 | ||||||
Series C, 5.00%, 07/15/25 (PR 07/15/22) |
295 | 304,986 | ||||||
Series C, 5.00%, 07/15/26 (PR 07/15/22) |
500 | 516,925 |
32 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Louisiana (continued) | ||||||||
State of Louisiana RB |
||||||||
5.00%, 09/01/22 |
$ | 150 | $ | 155,978 | ||||
Series A, 5.00%, 06/15/22 |
50 | 51,489 | ||||||
|
|
|||||||
2,259,368 | ||||||||
Maine — 0.4% | ||||||||
Maine Municipal Bond Bank RB |
||||||||
Series A, 5.00%, 09/01/22 |
560 | 582,318 | ||||||
Series A, 5.00%, 11/01/22 |
100 | 104,788 | ||||||
Series B, 5.00%, 11/01/22 |
85 | 89,070 | ||||||
Series C, 5.00%, 11/01/22 |
320 | 335,323 | ||||||
Series D, 5.00%, 11/01/22 |
160 | 167,662 | ||||||
Series D, 5.00%, 11/01/22 (ETM) |
10 | 10,472 | ||||||
Maine Turnpike Authority RB, 5.00%, 07/01/22 |
155 | 159,935 | ||||||
State of Maine GO, Series B, 5.00%, 06/01/22 |
210 | 215,902 | ||||||
|
|
|||||||
1,665,470 | ||||||||
Maryland — 3.7% | ||||||||
City of Baltimore MD GO, Series B, 5.00%, 10/15/22 |
225 | 235,255 | ||||||
City of Baltimore MD RB |
||||||||
Series A, 5.00%, 07/01/22 |
135 | 139,298 | ||||||
Series D, 5.00%, 07/01/22 |
140 | 144,458 | ||||||
County
of Anne Arundel MD GOL |
435 | 443,715 | ||||||
5.00%, 10/01/22 |
300 | 313,206 | ||||||
County of Baltimore MD COP, 5.00%, 10/01/22 |
60 | 62,641 | ||||||
County
of Baltimore MD GO |
225 | 227,697 | ||||||
Series B, 5.00%, 08/01/22 |
515 | 533,639 | ||||||
Series C, 4.00%, 09/01/22 |
265 | 273,454 | ||||||
County of Baltimore MD RB, Series B, 5.00%, 07/01/22 |
190 | 196,050 | ||||||
County
of Charles MD GO |
150 | 152,418 | ||||||
5.00%, 10/01/22 |
500 | 522,152 | ||||||
County of Frederick MD GO, Series A, 5.00%, 08/01/22 |
200 | 207,223 | ||||||
County of Howard MD, Series A, 5.00%, 02/15/22 |
125 | 126,741 | ||||||
County of Howard MD GO, Series A, 5.00%, 02/15/22 |
350 | 354,874 | ||||||
County of Montgomery MD GO |
||||||||
Series A, 5.00%, 11/01/22 |
110 | 115,301 | ||||||
Series A, 5.00%, 12/01/22 |
250 | 263,037 | ||||||
Series B, 5.00%, 12/01/22 |
120 | 126,258 | ||||||
Series C, 5.00%, 10/01/22 |
500 | 522,104 | ||||||
County of Prince George’s MD COP, 5.00%, 10/15/22 |
75 | 78,403 | ||||||
County of Prince George’s MD GOL |
||||||||
Series A, 5.00%, 07/15/22 |
100 | 103,391 | ||||||
Series C, 5.00%, 08/01/22 |
530 | 549,101 | ||||||
Serise A, 5.00%, 09/01/22 |
130 | 135,203 | ||||||
Maryland Health & Higher Educational Facilities Authority RB, Series A, 5.00%, 07/01/22 |
195 | 201,270 | ||||||
Maryland State Transportation Authority RB, 5.00%, 07/01/22 |
185 | 190,954 | ||||||
State of Maryland Department of Transportation RB 5.00%, 04/01/22 |
60 | 61,202 | ||||||
5.00%, 09/01/22 |
500 | 520,013 | ||||||
5.00%, 10/01/22 |
650 | 678,613 | ||||||
State of Maryland GO |
||||||||
First Series A, 5.00%, 03/01/24 (PR 03/01/22) |
1,300 | 1,320,777 | ||||||
First Series C, 4.00%, 08/15/22 |
210 | 216,327 | ||||||
Second Series B, 5.00%, 08/01/22 |
1,935 | 2,004,884 | ||||||
Series A, 5.00%, 03/01/22 |
150 | 152,407 | ||||||
Series B, 5.00%, 08/01/22 |
600 | 621,670 | ||||||
Series C, 5.00%, 08/01/22 |
1,245 | 1,289,964 |
Security | Par (000) |
Value | ||||||
Maryland (continued) | ||||||||
Washington Suburban Sanitary Commission RB, 5.00%, 06/01/22 |
$ | 1,030 | $ | 1,058,825 | ||||
|
|
|||||||
14,142,525 | ||||||||
Massachusetts — 3.6% | ||||||||
Boston Water & Sewer Commission RB, Series A, 4.25%, 11/01/22 |
440 | 457,873 | ||||||
City of Boston MA GO |
||||||||
Series A, 5.00%, 03/01/22 |
425 | 431,835 | ||||||
Series B, 5.00%, 04/01/22 |
250 | 255,030 | ||||||
Commonwealth of Massachusetts GOL |
||||||||
Series A, 5.00%, 05/01/22 |
60 | 61,443 | ||||||
Series A, 5.00%, 07/01/22 |
410 | 423,139 | ||||||
Series B, 5.00%, 08/01/22 |
270 | 279,730 | ||||||
Series B, 5.25%, 08/01/22 |
210 | 217,960 | ||||||
Series C, 5.00%, 02/01/22 |
100 | 101,199 | ||||||
Series C, 5.00%, 04/01/22 |
290 | 295,810 | ||||||
Series C, 5.00%, 07/01/22 |
300 | 309,614 | ||||||
Series C, 5.00%, 08/01/22 |
215 | 222,748 | ||||||
Series C, 5.00%, 10/01/22 |
275 | 287,105 | ||||||
Series C, 5.00%, 07/01/24 (PR 07/01/22) |
285 | 294,133 | ||||||
Series C, 5.50%, 12/01/22 (AMBAC) |
485 | 512,799 | ||||||
Series E, 5.00%, 09/01/22 |
105 | 109,203 | ||||||
Series E, 5.00%, 11/01/22 |
110 | 115,279 | ||||||
Series E, 5.00%, 09/01/25 (PR 09/01/22) |
390 | 405,717 | ||||||
Series E, 5.00%, 09/01/28 (PR 09/01/22) |
1,285 | 1,336,433 | ||||||
Series F, 5.00%, 11/01/23 (PR 11/01/22) |
570 | 597,353 | ||||||
Series F, 5.00%, 11/01/25 (PR 11/01/22) |
150 | 157,246 | ||||||
Series F, 5.00%, 11/01/26 (PR 11/01/22) |
500 | 523,994 | ||||||
Series H, 5.00%, 12/01/22 |
1,215 | 1,278,087 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/22 |
355 | 364,913 | ||||||
Massachusetts Bay Transportation Authority RB |
||||||||
Series A, 0.00%, 07/01/22(a) |
100 | 99,842 | ||||||
Series A, 5.00%, 07/01/22 |
1,035 | 1,068,238 | ||||||
Series A, 5.25%, 07/01/22 |
80 | 82,702 | ||||||
Series B, 5.25%, 07/01/22 |
450 | 465,198 | ||||||
Massachusetts
Clean Water Trust (The) RB |
220 | 227,945 | ||||||
Series 12B, 5.00%, 08/01/22 |
500 | 518,058 | ||||||
Massachusetts Department of Transportation RB, Series C, 0.00%, 01/01/22 (NPFGC)(a) |
25 | 24,984 | ||||||
Massachusetts
Development Finance Agency RB |
100 | 103,184 | ||||||
Series A, 5.00%, 07/15/22 |
200 | 206,811 | ||||||
Massachusetts Health & Educational Facilities Authority RB, Serise K, 5.50%, 07/01/22 |
250 | 258,840 | ||||||
Massachusetts Port Authority RB, Series B, 4.00%, 07/01/22 |
20 | 20,508 | ||||||
Massachusetts School Building Authority RB |
||||||||
Series A, 5.00%, 08/15/22 |
740 | 768,106 | ||||||
Series A, 5.00%, 08/15/22 (ETM) |
45 | 46,688 | ||||||
Massachusetts Water Resources Authority RB, Serise A, 5.00%, 08/01/22 |
325 | 336,713 | ||||||
University of Massachusetts Building Authority RB |
||||||||
Series 1, 5.00%, 11/01/22 |
50 | 52,410 | ||||||
Series 2, 5.00%, 11/01/22 |
305 | 319,605 | ||||||
|
|
|||||||
13,638,475 | ||||||||
Michigan — 1.7% | ||||||||
City of Detroit MI Sewage Disposal System Revenue RB, Series A, 5.25%, 07/01/39 (PR 07/01/22) |
1,000 | 1,033,813 |
SCHEDULE OF INVESTMENTS |
33 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Michigan (continued) | ||||||||
Michigan Finance Authority RB |
| |||||||
4.00%, 10/01/22 |
$ | 275 | $ | 284,596 | ||||
5.00%, 08/01/22 |
80 | 82,883 | ||||||
5.00%, 10/01/22 |
75 | 78,302 | ||||||
Series B, 5.00%, 10/01/22 |
455 | 475,029 | ||||||
Michigan State Building Authority RB |
||||||||
Series A, 5.00%, 10/15/22 |
930 | 972,752 | ||||||
Series I, 5.00%, 04/15/22 |
275 | 281,037 | ||||||
Michigan State Hospital Finance Authority RB, Series 200, 4.00%, 11/01/22 |
250 | 259,430 | ||||||
Michigan State University RB, Series A, 5.00%, 08/15/22 |
315 | 326,913 | ||||||
State of Michigan Comprehensive Transportation Revenue RB, 5.25%, 05/15/22 (AGM) |
130 | 133,500 | ||||||
State of Michigan GO |
||||||||
Series A, 5.00%, 12/01/22 |
470 | 494,246 | ||||||
Series B, 5.00%, 11/01/22 |
710 | 743,851 | ||||||
State of Michigan RB, 5.00%, 03/15/22 |
230 | 234,011 | ||||||
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/22 |
1,015 | 1,065,571 | ||||||
University of Michigan RB, Series A, 5.00%, 04/01/22 |
130 | 132,610 | ||||||
|
|
|||||||
6,598,544 | ||||||||
Minnesota — 1.4% |
| |||||||
County of Hennepin MN GO |
||||||||
Series A, 5.00%, 12/01/22 |
140 | 147,269 | ||||||
Series B, 5.00%, 12/01/22 |
105 | 110,452 | ||||||
Series C, 5.00%, 12/01/22 |
100 | 105,192 | ||||||
Metropolitan Council GO |
||||||||
Series A, 5.00%, 03/01/22 |
235 | 238,780 | ||||||
Series B, 5.00%, 09/01/22 |
125 | 130,025 | ||||||
Series C, 4.00%, 03/01/22 |
100 | 101,278 | ||||||
Series C, 5.00%, 03/01/22 |
75 | 76,206 | ||||||
Series E, 5.00%, 09/01/22 |
100 | 104,020 | ||||||
Series I, 4.00%, 03/01/22 |
400 | 405,112 | ||||||
Minneapolis-St Paul Metropolitan Airports Commission RB, |
||||||||
Series B, 5.00%, 01/01/22 |
300 | 302,376 | ||||||
Minnesota Municipal Power Agency RB, Series A, 5.00%, 10/01/22 |
40 | 41,704 | ||||||
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/22 |
165 | 167,648 | ||||||
Southern Minnesota Municipal Power Agency RB |
||||||||
Series A, 0.00%, 01/01/22 (NPFGC)(a) |
50 | 49,982 | ||||||
Series A, 5.00%, 01/01/22 |
45 | 45,340 | ||||||
State of Minnesota GO |
||||||||
Series A, 5.00%, 08/01/22 |
780 | 808,351 | ||||||
Series B, 5.00%, 08/01/22 |
1,050 | 1,088,164 | ||||||
Series D, 5.00%, 10/01/22 |
530 | 553,531 | ||||||
Series F, 5.00%, 10/01/22 |
440 | 459,535 | ||||||
State of Minnesota RB, Series A, 5.00%, 06/01/22 |
155 | 159,347 | ||||||
Western Minnesota Municipal Power Agency RB, Series A, 5.00%, 01/01/22 |
115 | 115,907 | ||||||
|
|
|||||||
5,210,219 | ||||||||
Mississippi — 0.2% |
| |||||||
Mississippi Development Bank SO, 5.00%, 01/01/22 |
75 | 75,590 | ||||||
State of Mississippi GO |
||||||||
Series C, 5.00%, 10/01/22 |
120 | 125,294 | ||||||
Series F, 4.00%, 11/01/22 |
260 | 269,914 | ||||||
Series F, 5.25%, 10/01/22 |
100 | 104,639 | ||||||
Series H, 5.00%, 12/01/22 |
300 | 315,611 | ||||||
|
|
|||||||
891,048 |
Security | Par (000) |
Value | ||||||
Missouri — 0.7% | ||||||||
Health & Educational Facilities Authority of the State of Missouri RB, Series A, 5.00%, 11/15/22 |
$ | 75 | $ | 78,616 | ||||
Metropolitan St. Louis Sewer District RB, Series B, 5.00%, 05/01/22 |
80 | 81,932 | ||||||
Missouri Highway & Transportation Commission RB |
||||||||
Series A, 5.00%, 05/01/22 |
330 | 337,935 | ||||||
Series B, 5.00%, 05/01/22 |
465 | 476,040 | ||||||
Missouri State Board of Public Buildings RB |
||||||||
Series A, 4.00%, 04/01/22 |
175 | 177,775 | ||||||
Series A, 5.00%, 10/01/22 |
375 | 391,472 | ||||||
Series B, 5.00%, 04/01/22 |
230 | 234,599 | ||||||
Missouri State Environmental Improvement & Energy Resources Authority RB |
||||||||
4.00%, 01/01/22 |
40 | 40,253 | ||||||
Series A, 5.00%, 07/01/22 |
420 | 433,459 | ||||||
University of Missouri RB, Series A, 5.00%, 11/01/22 |
405 | 424,393 | ||||||
|
|
|||||||
2,676,474 | ||||||||
Montana — 0.0% |
| |||||||
Montana Department of Transportation RB, 5.00%, 06/01/22 |
100 | 102,745 | ||||||
|
|
|||||||
Nebraska — 0.8% |
| |||||||
City of Lincoln NE Electric System Revenue RB, 5.00%, 09/01/22 |
365 | 379,515 | ||||||
City of Omaha NE GO, Series B, 5.00%, 11/15/22 |
495 | 519,663 | ||||||
City of Omaha NE Sewer Revenue RB, 5.00%, 11/15/22 |
115 | 120,730 | ||||||
Metropolitan Utilities District of Omaha Water System Revenue RB, 5.00%, 12/01/22 |
360 | 378,572 | ||||||
Nebraska Public Power District RB |
||||||||
Series A, 5.00%, 01/01/22 |
525 | 529,175 | ||||||
Series B, 5.00%, 01/01/22 |
570 | 574,533 | ||||||
Series C, 5.00%, 01/01/22 |
160 | 161,272 | ||||||
Omaha Public Power District Nebraska City Station Unit 2 RB, Series A, 5.00%, 02/01/22 |
135 | 136,584 | ||||||
Omaha Public Power District RB |
||||||||
Series A, 5.00%, 02/01/23 (PR 02/01/22) |
255 | 258,051 | ||||||
Series AA, 5.00%, 02/01/22 |
125 | 126,476 | ||||||
|
|
|||||||
3,184,571 | ||||||||
Nevada — 1.8% |
| |||||||
City of Las Vegas NV GOL, Series C, 5.00%, 09/01/22 |
200 | 208,005 | ||||||
Clark County School District GOL |
||||||||
Series A, 5.00%, 06/15/22 |
165 | 169,767 | ||||||
Series B, 5.00%, 06/15/22 |
280 | 288,090 | ||||||
Series C, 5.00%, 06/15/22 |
125 | 128,612 | ||||||
Series D, 5.00%, 06/15/22 |
240 | 246,935 | ||||||
Clark County Water Reclamation District GOL, 5.00%, 07/01/22 |
390 | 402,524 | ||||||
County of Clark Department of Aviation RB |
||||||||
Series B, 5.00%, 07/01/22 |
145 | 149,577 | ||||||
Series C, 5.00%, 07/01/22 |
150 | 154,735 | ||||||
County
of Clark NV GOL |
150 | 154,207 | ||||||
5.00%, 11/01/22 |
395 | 413,955 | ||||||
Series A, 5.00%, 07/01/22 |
145 | 149,647 | ||||||
Series B, 5.00%, 11/01/22 |
220 | 230,557 | ||||||
County
of Clark NV RB |
555 | 572,634 | ||||||
5.00%, 11/01/22 |
315 | 330,116 | ||||||
Series A, 5.00%, 07/01/22 |
470 | 484,933 | ||||||
County of Washoe NV RB, 5.00%, 02/01/22 |
100 | 101,189 |
34 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Nevada (continued) | ||||||||
Nevada
System of Higher Education RB |
$ | 50 | $ | 51,271 | ||||
Series A, 4.00%, 07/01/22 |
25 | 25,635 | ||||||
Series B, 5.00%, 07/01/22 |
485 | 500,542 | ||||||
State of Nevada GOL |
||||||||
Series B, 4.00%, 08/01/22 |
260 | 267,469 | ||||||
Series B, 5.00%, 11/01/22 |
80 | 83,856 | ||||||
Series C, 5.00%, 08/01/22 |
130 | 134,705 | ||||||
Series D-1, 5.00%, 03/01/22 |
660 | 670,615 | ||||||
State
of Nevada Highway Improvement Revenue RB |
550 | 572,746 | ||||||
5.00%, 12/01/22 |
120 | 126,258 | ||||||
Washoe County School District/NV GOL |
||||||||
Series A, 3.00%, 06/01/22 |
105 | 106,733 | ||||||
Series A, 5.00%, 06/01/22 (PSF) |
185 | 190,199 | ||||||
|
|
|||||||
6,915,512 | ||||||||
New Hampshire — 0.1% | ||||||||
New Hampshire Municipal Bond Bank RB |
||||||||
Series A, 5.00%, 08/15/22 |
150 | 155,685 | ||||||
Series B, 5.00%, 08/15/22 |
110 | 114,169 | ||||||
Series D, 4.00%, 08/15/22 |
100 | 103,005 | ||||||
State of New Hampshire GO, Series A, 5.00%, 03/01/22 |
85 | 86,361 | ||||||
|
|
|||||||
459,220 | ||||||||
New Jersey — 2.6% | ||||||||
Monmouth County Improvement Authority (The) RB, 5.00%, 12/01/22 (GTD) |
775 | 814,980 | ||||||
New Jersey Economic Development Authority RB 5.00%, 06/15/22 |
150 | 154,039 | ||||||
Series B, 5.00%, 11/01/22 |
905 | 947,123 | ||||||
Series DDD, 5.00%, 06/15/22 |
100 | 102,902 | ||||||
Series II, 5.00%, 03/01/22 |
65 | 66,010 | ||||||
Series NN, 5.00%, 03/01/22 |
860 | 873,366 | ||||||
Series XX, 4.00%, 06/15/22 |
40 | 40,914 | ||||||
Series XX, 5.00%, 06/15/22 (SAP) |
120 | 123,483 | ||||||
New
Jersey Educational Facilities Authority RB |
100 | 102,902 | ||||||
5.00%, 09/01/22 |
100 | 103,883 | ||||||
Series A, 5.00%, 07/01/22 |
700 | 722,480 | ||||||
Series I, 5.00%, 07/01/22 |
100 | 103,211 | ||||||
New Jersey Health Care Facilities Financing Authority RB, Series A, 5.00%, 07/01/22 |
180 | 185,805 | ||||||
New Jersey Transportation Trust Fund Authority RB |
||||||||
Series A, 5.00%, 06/15/22 |
595 | 612,305 | ||||||
Series AA, 5.00%, 06/15/22 |
335 | 344,722 | ||||||
Series AA, 5.00%, 06/15/22 (SAP) |
130 | 133,773 | ||||||
New Jersey Turnpike Authority RB |
||||||||
Series A, 5.00%, 01/01/43 (PR 07/01/22) |
2,750 | 2,838,425 | ||||||
Series B, 5.00%, 01/01/22 |
355 | 357,832 | ||||||
Series C, 5.00%, 01/01/22 |
505 | 509,029 | ||||||
State
of New Jersey GO |
175 | 181,310 | ||||||
Series T, 5.00%, 06/01/22 |
590 | 605,703 | ||||||
|
|
|||||||
9,924,197 | ||||||||
New Mexico — 0.7% | ||||||||
Albuquerque
Municipal School District No. 12 GO, |
100 | 103,581 | ||||||
County of Santa Fe NM GO, 5.00%, 07/01/22 |
140 | 144,486 | ||||||
New Mexico Finance Authority RB Series D, 5.00%, 06/15/22 |
100 | 102,991 |
Security | Par (000) |
Value | ||||||
New Mexico (continued) | ||||||||
Series E, 5.00%, 06/15/22 |
$ | 125 | $ | 128,739 | ||||
Series SR, 5.00%, 06/15/22 |
360 | 370,722 | ||||||
State
of New Mexico GO |
115 | 116,834 | ||||||
Series B, 5.00%, 03/01/22 |
400 | 406,379 | ||||||
State of New Mexico Severance Tax Permanent Fund RB |
||||||||
Series A, 5.00%, 07/01/22 |
510 | 526,274 | ||||||
Series B, 4.00%, 07/01/22 |
265 | 271,699 | ||||||
Series B, 5.00%, 07/01/22 |
225 | 232,179 | ||||||
University of New Mexico (The) RB |
||||||||
Series A, 5.00%, 06/01/22 |
200 | 205,561 | ||||||
Series C, 5.00%, 06/01/22 |
105 | 107,920 | ||||||
|
|
|||||||
2,717,365 | ||||||||
New York — 8.6% | ||||||||
City of New York NY GO |
||||||||
Series 1, 5.00%, 08/01/22 |
295 | 305,654 | ||||||
Series 2015-A, 5.00%, 08/01/22 |
625 | 647,572 | ||||||
Series A, 5.00%, 08/01/22 |
605 | 626,851 | ||||||
Series B-1, 5.00%, 12/01/22 |
660 | 694,344 | ||||||
Series C, 5.00%, 08/01/22 |
1,380 | 1,429,840 | ||||||
Series D, 5.00%, 08/01/22 |
415 | 429,988 | ||||||
Series E, 5.00%, 08/01/22 |
240 | 248,668 | ||||||
Series E, 5.25%, 08/01/22 |
305 | 316,584 | ||||||
Series G, 5.00%, 08/01/22 |
100 | 103,612 | ||||||
Series H, 5.00%, 08/01/22 |
285 | 295,293 | ||||||
Series I, 5.00%, 03/01/22 |
150 | 152,407 | ||||||
Series I, 5.00%, 08/01/22 |
365 | 378,182 | ||||||
Series J, 5.00%, 08/01/22 |
580 | 600,948 | ||||||
County of Nassau NY GOL, Series B, 5.00%, 04/01/22 |
120 | 122,404 | ||||||
Long
Island Power Authority RB |
100 | 104,013 | ||||||
Series B, 5.00%, 09/01/22 |
220 | 228,826 | ||||||
Metropolitan Transportation Authority RB |
||||||||
Series A, 5.00%, 11/15/22 |
110 | 115,476 | ||||||
Series A-1, 5.00%, 11/15/22 |
230 | 240,970 | ||||||
Series A-2, 5.00%, 11/15/22 |
300 | 314,308 | ||||||
Series B, 5.00%, 11/15/22 |
700 | 733,383 | ||||||
Series B, 5.25%, 11/15/22 (AMBAC) |
35 | 36,794 | ||||||
Series B-2, 5.00%, 11/15/22 |
595 | 623,377 | ||||||
Series C, 5.00%, 11/15/22 |
290 | 303,889 | ||||||
Series C, 5.00%, 11/15/22 (ETM) |
20 | 21,004 | ||||||
Series D, 5.00%, 11/15/22 |
45 | 47,146 | ||||||
Series D-1, 5.00%, 11/01/22 |
680 | 711,236 | ||||||
Series E, 5.00%, 11/15/22 |
25 | 26,192 | ||||||
Series F, 5.00%, 11/15/22 |
300 | 314,485 | ||||||
Series H, 4.00%, 11/15/22 |
115 | 119,297 | ||||||
Series H, 4.00%, 11/15/22 (ETM) |
40 | 41,594 | ||||||
Nassau
County Interim Finance Authority RB |
5 | 5,196 | ||||||
4.00%, 11/15/22 (ETM) |
120 | 124,653 | ||||||
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
Series S-1, 4.00%, 07/15/22 (SAW) |
115 | 118,076 | ||||||
Series S-1, 5.00%, 07/15/22 (ETM SAW) |
115 | 118,901 | ||||||
Series S-2, 5.00%, 07/15/22 (ETM SAW) |
25 | 25,853 | ||||||
New
York City Transitional Finance Authority Future Tax Secured Revenue
RB |
115 | 118,228 | ||||||
Series A-1, 5.00%, 08/01/22 |
245 | 253,830 | ||||||
Series A-1, 5.00%, 11/01/22 |
440 | 461,114 |
SCHEDULES OF INVESTMENTS |
35 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Series B, 5.00%, 11/01/22 |
$ | 385 | $ | 403,475 | ||||
Series B-1, 4.00%, 08/01/22 |
70 | 72,000 | ||||||
Series B-1, 5.00%, 08/01/22 |
375 | 388,514 | ||||||
Series B-1, 5.00%, 11/01/22 |
110 | 115,279 | ||||||
Series C, 5.00%, 11/01/22 |
815 | 854,110 | ||||||
Series C1, 5.00%, 05/01/22 |
95 | 97,284 | ||||||
Series D, 5.00%, 11/01/22 |
205 | 214,837 | ||||||
Series E-1, 5.00%, 02/01/22 |
185 | 187,218 | ||||||
Series F-1, 5.00%, 02/01/22 |
200 | 202,398 | ||||||
Serise C-1, 4.00%, 11/01/22 |
100 | 103,803 | ||||||
Serise E-1, 5.00%, 02/01/22 |
295 | 298,537 | ||||||
New York City Water & Sewer System RB |
||||||||
Series CC-2, 5.00%, 06/15/22 |
325 | 334,725 | ||||||
Series DD, 4.00%, 06/15/22 |
60 | 61,424 | ||||||
Series DD-2, 5.00%, 06/15/22 |
260 | 267,761 | ||||||
Series EE, 4.00%, 06/15/22 |
205 | 209,865 | ||||||
Series FF, 5.00%, 06/15/23 (PR 06/15/22) |
50 | 51,471 | ||||||
New York Convention Center Development Corp. RB, 5.00%, 11/15/22 |
205 | 214,884 | ||||||
New York Municipal Bond Bank Agency RB, 5.00%, 12/01/22 (SAW) |
65 | 68,390 | ||||||
New York Power Authority RB, Series A, 5.00%, 11/15/22 |
25 | 26,246 | ||||||
New York State Dormitory Authority RB 5.00%, 05/15/22 |
225 | 230,818 | ||||||
Series A, 0.00%, 05/15/22 (NPFGC)(a) |
45 | 44,918 | ||||||
Series A, 5.00%, 02/15/22 |
775 | 785,748 | ||||||
Series A, 5.00%, 03/15/22 |
1,320 | 1,343,618 | ||||||
Series A, 5.00%, 04/01/22 (SAW) |
130 | 132,588 | ||||||
Series A, 5.00%, 07/01/22 |
1,110 | 1,145,570 | ||||||
Series A, 5.00%, 10/01/22 |
315 | 328,926 | ||||||
Series A, 5.00%, 10/01/22 (SAW) |
240 | 249,921 | ||||||
Series A, 5.50%, 05/15/22 (AMBAC) |
125 | 128,588 | ||||||
Series B, 4.00%, 10/01/22 |
75 | 77,631 | ||||||
Series B, 4.00%, 10/01/22 (SAW) |
125 | 129,303 | ||||||
Series B, 5.00%, 03/15/22 |
250 | 254,473 | ||||||
Series C, 5.00%, 03/15/22 |
210 | 213,757 | ||||||
Series D, 5.00%, 02/15/22 |
1,310 | 1,328,167 | ||||||
Series E, 5.00%, 03/15/22 |
345 | 351,173 | ||||||
Series F, 5.00%, 10/01/22 (AGM) |
240 | 250,293 | ||||||
Series H, 5.00%, 10/01/22 (SAW) |
100 | 104,411 | ||||||
New
York State Environmental Facilities Corp.
RB |
610 | 628,332 | ||||||
Series A, 5.00%, 06/15/22 |
1,140 | 1,174,244 | ||||||
Series B, 4.00%, 11/15/22 |
80 | 83,175 | ||||||
Series B, 5.00%, 05/15/22 |
100 | 102,602 | ||||||
New York State Thruway Authority Highway & Bridge Trust Fund RB, Series A, 5.00%, 04/01/22 |
480 | 489,617 | ||||||
New York State Thruway Authority RB |
||||||||
Series A, 5.00%, 03/15/22 |
190 | 193,400 | ||||||
Series I, 5.00%, 01/01/22 |
130 | 131,032 | ||||||
Series I, 5.00%, 01/01/28 (PR 01/01/22) |
140 | 141,119 | ||||||
Series J, 5.00%, 01/01/22 |
255 | 257,024 | ||||||
Series K, 4.00%, 01/01/22 |
180 | 181,134 | ||||||
New
York State Urban Development Corp. RB |
150 | 152,684 | ||||||
Series A, 5.00%, 03/15/22 |
1,880 | 1,913,637 | ||||||
Series A-2, 5.50%, 03/15/22 (NPFGC) |
65 | 66,283 | ||||||
Series C, 5.00%, 03/15/22 |
200 | 203,578 | ||||||
Serise A-1, 4.00%, 03/15/22 |
200 | 202,840 | ||||||
Port Authority of New York & New Jersey, 5.00%, 07/15/22 |
230 | 237,832 |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Port Authority of New York & New Jersey RB |
||||||||
Series 179, 5.00%, 12/01/22 |
$ | 275 | $ | 289,156 | ||||
Series 189, 5.00%, 05/01/22 |
60 | 61,431 | ||||||
Series 194, 5.00%, 10/15/22 |
185 | 193,413 | ||||||
Series 205, 5.00%, 11/15/22 |
100 | 104,939 | ||||||
Sales Tax Asset Receivable Corp. RB, Series A, 5.00%, 10/15/22 |
550 | 575,241 | ||||||
State of New York GO |
||||||||
Series A, 5.00%, 03/01/22 |
100 | 101,605 | ||||||
Series C, 5.00%, 04/15/22 |
630 | 643,831 | ||||||
Serise A, 5.00%, 03/15/22 |
180 | 183,227 | ||||||
Triborough Bridge & Tunnel Authority RB |
||||||||
Series A, 4.00%, 11/15/22 |
200 | 207,832 | ||||||
Series A, 5.00%, 11/15/22 |
460 | 482,672 | ||||||
Series B, 5.00%, 11/15/22 |
345 | 362,078 | ||||||
Series B-1, 5.00%, 11/15/22 |
235 | 246,633 | ||||||
|
|
|||||||
32,442,903 | ||||||||
North Carolina — 3.8% | ||||||||
City of Charlotte NC COP, Series C, 4.00%, 06/01/22 |
30 | 30,667 | ||||||
City
of Charlotte NC GO |
270 | 284,080 | ||||||
Series A, 5.00%, 07/01/22 |
355 | 366,425 | ||||||
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/22 |
125 | 129,023 | ||||||
City of Durham NC GO, 5.00%, 09/01/22 |
125 | 130,003 | ||||||
City of Durham NC RB, 4.00%, 04/01/22 |
525 | 533,303 | ||||||
City of Fayetteville NC Public Works Commission Revenue RB, 5.00%, 03/01/22 |
50 | 50,803 | ||||||
City of Greensboro NC GO, Series B, 5.00%, 10/01/22 |
100 | 104,411 | ||||||
City of Raleigh NC GO |
||||||||
Series A, 5.00%, 09/01/22 |
250 | 260,006 | ||||||
Series B, 4.00%, 04/01/27 (PR 04/01/22) |
1,000 | 1,015,858 | ||||||
City of Raleigh NC GOL, Series A, 4.00%, 10/01/22 |
145 | 150,059 | ||||||
County of Buncombe NC, 5.00%, 06/01/22 |
375 | 385,517 | ||||||
County of Buncombe NC GO, 5.00%, 06/01/22 |
100 | 102,804 | ||||||
County of Buncombe NC RB, 5.00%, 06/01/22 |
45 | 46,262 | ||||||
County of Durham NC GO, 5.00%, 10/01/22 |
385 | 402,020 | ||||||
County of Forsyth NC GO, 5.00%, 12/01/22 |
275 | 289,310 | ||||||
County of Guilford NC GO |
||||||||
Series A, 5.00%, 02/01/22 |
225 | 227,703 | ||||||
Series A, 5.00%, 05/01/22 |
260 | 266,252 | ||||||
Series A, 5.00%, 03/01/28 (PR 03/01/22) |
3,460 | 3,515,298 | ||||||
Series D, 5.00%, 08/01/22 |
115 | 119,145 | ||||||
County
of Mecklenburg NC GO |
1,245 | 1,265,066 | ||||||
Series A, 5.00%, 09/01/22 |
135 | 140,438 | ||||||
Series B, 5.00%, 12/01/22 |
120 | 126,244 | ||||||
County of Mecklenburg NC RB, Series A, 5.00%, 10/01/22 |
170 | 177,499 | ||||||
County of New Hanover NC GO, 5.00%, 08/01/22 |
400 | 414,416 | ||||||
County of Wake NC GO |
||||||||
Series A, 5.00%, 03/01/22 |
120 | 121,930 | ||||||
Series C, 5.00%, 03/01/22 |
120 | 121,930 | ||||||
County of Wake NC RB, Series A, 5.00%, 12/01/22 |
330 | 347,172 | ||||||
North Carolina Medical Care Commission RB, Series A, 5.00%, 10/01/22 |
215 | 224,160 | ||||||
North Carolina Municipal Power Agency No. 1 RB |
||||||||
Series B, 5.00%, 01/01/22 |
75 | 75,586 | ||||||
Series E, 5.00%, 01/01/22 |
120 | 120,936 | ||||||
State of North Carolina GO |
||||||||
Series A, 5.00%, 06/01/22 |
605 | 622,039 |
36 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
North Carolina (continued) | ||||||||
Series B, 5.00%, 06/01/22 |
$ | 200 | $ | 205,633 | ||||
Series C, 5.00%, 05/01/22 |
500 | 512,074 | ||||||
Series D, 4.00%, 06/01/22 |
605 | 618,530 | ||||||
State
of North Carolina RB |
285 | 289,555 | ||||||
Series B, 5.00%, 05/01/22 |
250 | 256,037 | ||||||
Series C, 5.00%, 05/01/22 |
345 | 353,331 | ||||||
|
|
|||||||
14,401,525 | ||||||||
Ohio — 4.0% | ||||||||
City of Cincinnati OH GO, Series A, 4.00%, 12/01/22 |
50 | 52,018 | ||||||
City of Cincinnati OH Water System Revenue RB, Series B, 5.00%, 12/01/22 |
90 | 94,673 | ||||||
City of Columbus OH GO |
||||||||
Series 1, 5.00%, 07/01/22 |
205 | 211,583 | ||||||
Series A, 5.00%, 08/15/22 |
520 | 539,750 | ||||||
Series A, 5.00%, 02/15/23 (PR 08/15/22) |
770 | 799,131 | ||||||
Series A, 5.00%, 02/15/26 (PR 08/15/22) |
1,000 | 1,037,832 | ||||||
City
of Columbus OH GOL |
65 | 66,656 | ||||||
Series 6, 5.00%, 08/15/22 |
180 | 186,837 | ||||||
Serise B, 3.00%, 07/01/22 |
330 | 336,220 | ||||||
County of Franklin OH GOL, 5.00%, 06/01/22 |
210 | 215,889 | ||||||
County of Franklin OH Sales Tax Revenue RB, 5.00%, 06/01/22 |
200 | 205,609 | ||||||
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/22 |
195 | 205,125 | ||||||
Kent State University RB, Series A, 4.00%, 05/01/22 |
50 | 50,931 | ||||||
Miami University/Oxford OH RB, 5.00%, 09/01/22 |
125 | 130,014 | ||||||
Ohio
Higher Educational Facility Commission RB |
115 | 115,913 | ||||||
5.00%, 12/01/22 |
115 | 120,920 | ||||||
Series A, 5.00%, 12/01/22 |
60 | 63,089 | ||||||
Ohio
State University (The) RB |
635 | 668,043 | ||||||
Serise A, 5.00%, 12/01/22 |
350 | 368,213 | ||||||
Ohio
Water Development Authority RB |
135 | 138,786 | ||||||
5.00%, 12/01/22 |
175 | 184,087 | ||||||
5.50%, 12/01/22 |
175 | 185,031 | ||||||
Series A, 5.00%, 06/01/22 |
215 | 221,030 | ||||||
Series A, 5.00%, 12/01/22 |
120 | 126,231 | ||||||
Ohio
Water Development Authority Water Pollution Control Loan Fund
RB |
820 | 862,577 | ||||||
Series 2015-A, 5.00%, 06/01/22 |
160 | 164,487 | ||||||
Series 2015-A, 5.00%, 12/01/22 |
230 | 241,942 | ||||||
Series B, 5.00%, 12/01/22 |
90 | 94,673 | ||||||
South-Western City School District GO, 5.00%, 12/01/36 (PR 06/01/22) |
1,800 | 1,850,609 | ||||||
State
of Ohio GO |
160 | 165,815 | ||||||
Series A, 5.00%, 09/01/22 |
225 | 234,082 | ||||||
Series A, 5.00%, 09/15/22 |
485 | 505,491 | ||||||
Series B, 4.00%, 11/01/22 |
100 | 103,844 | ||||||
Series B, 5.00%, 08/01/22 |
635 | 658,080 | ||||||
Series B, 5.00%, 09/01/22 |
270 | 280,899 | ||||||
Series C, 4.25%, 09/15/22 |
220 | 227,862 | ||||||
Series C, 5.00%, 08/01/22 |
290 | 300,541 | ||||||
Series C, 5.00%, 09/15/22 |
100 | 104,225 | ||||||
Series C, 5.00%, 11/01/22 |
100 | 104,840 |
Security | Par (000) |
Value | ||||||
Ohio (continued) | ||||||||
Series Q, 5.00%, 05/01/22 |
$ | 85 | $ | 87,053 | ||||
Series Q, 5.00%, 05/01/26 (PR 05/01/22) |
1,225 | 1,254,512 | ||||||
Series S, 5.00%, 04/01/22 |
50 | 51,010 | ||||||
Series T, 5.00%, 11/01/22 |
160 | 167,711 | ||||||
Series U, 5.00%, 10/01/22 |
200 | 208,880 | ||||||
State
of Ohio RB |
355 | 362,097 | ||||||
Series A, 5.00%, 12/01/22 |
500 | 525,906 | ||||||
Series B, 5.00%, 10/01/22 |
250 | 260,981 | ||||||
|
|
|||||||
15,141,728 | ||||||||
Oklahoma — 0.8% | ||||||||
City of Oklahoma City OK GO, 5.00%, 03/01/22 |
75 | 76,204 | ||||||
Grand
River Dam Authority RB |
125 | 127,729 | ||||||
Series A, 5.00%, 06/01/22 |
440 | 452,156 | ||||||
Oklahoma
Capitol Improvement Authority RB |
245 | 252,868 | ||||||
Series A, 5.00%, 07/01/22 |
395 | 407,685 | ||||||
Series C, 4.00%, 07/01/22 |
115 | 117,930 | ||||||
Oklahoma City Water Utilities Trust RB, 5.00%, 07/01/22 |
120 | 123,854 | ||||||
Oklahoma Municipal Power Authority RB |
||||||||
Series A, 5.00%, 01/01/22 |
460 | 463,619 | ||||||
Series B, 5.00%, 01/01/22 |
205 | 206,613 | ||||||
Oklahoma Turnpike Authority RB, Series D, 5.00%, 01/01/22 |
340 | 342,710 | ||||||
Oklahoma Water Resources Board RB, 5.00%, 04/01/22 |
285 | 290,686 | ||||||
University of Oklahoma (The) RB, Series C, 5.00%, 07/01/22 |
110 | 113,502 | ||||||
|
|
|||||||
2,975,556 | ||||||||
Oregon — 1.6% | ||||||||
City
of Eugene OR Water Utility System Revenue
RB, |
65 | 67,347 | ||||||
City
of Portland OR Sewer System Revenue RB |
300 | 308,993 | ||||||
Series B, 5.00%, 10/01/22 |
175 | 182,720 | ||||||
City of Portland OR Water System Revenue RB, 5.00%, 10/01/22 |
50 | 52,206 | ||||||
Clackamas & Washington Counties School District No. 3 GO, Series A, 0.00%, 06/15/22 (NPFGC GTD)(a) |
110 | 109,778 | ||||||
Clackamas Community College District GO, Series B, 0.00%, 06/15/22 (GTD)(a) |
50 | 49,930 | ||||||
Clackamas County School District No. 12 North Clackamas GO, 5.00%, 06/15/22 (GTD) |
100 | 102,997 | ||||||
Clackamas County Service District No. 1 RB, 5.00%, 12/01/22 |
75 | 78,911 | ||||||
County of Clackamas OR GO, Series B, 5.00%, 06/01/22 |
125 | 128,513 | ||||||
County of Washington OR GOL, 5.00%, 06/01/22 |
50 | 51,405 | ||||||
Lane County School District No. 4J Eugene GO, 5.00%, 06/15/22 (GTD) |
450 | 463,489 | ||||||
Oregon
State Lottery RB |
155 | 158,105 | ||||||
Series C, 5.00%, 04/01/22 |
530 | 540,619 | ||||||
Port of Portland OR Airport Revenue RB, Series 23, 5.00%, 07/01/22 |
300 | 309,491 | ||||||
Portland Community College District GO, 5.00%, 06/15/22 |
465 | 478,909 | ||||||
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/22 (GTD)(a) |
330 | 329,619 | ||||||
State of Oregon Department of Transportation RB, Series A, 5.00%, 11/15/22 |
635 | 666,774 | ||||||
State
of Oregon GO |
145 | 148,487 | ||||||
Series A, 5.00%, 08/01/22 |
50 | 51,802 |
SCHEDULES OF INVESTMENTS |
37 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Oregon (continued) | ||||||||
Series D, 5.00%, 05/01/22 |
$ | 225 | $ | 230,410 | ||||
Series F, 5.00%, 05/01/22 |
25 | 25,601 | ||||||
Series I, 5.00%, 08/01/22 |
360 | 372,974 | ||||||
Series L, 5.00%, 08/01/22 |
100 | 103,604 | ||||||
Series N, 5.00%, 08/01/22 |
400 | 414,385 | ||||||
Serise A, 5.00%, 05/01/22 |
100 | 102,405 | ||||||
Tri-County Metropolitan Transportation District of Oregon RB, Series A, 5.00%, 09/01/22 |
300 | 312,008 | ||||||
Washington & Multnomah Counties School District No. 48J Beaverton GO, 5.00%, 06/15/22 (GTD) |
50 | 51,499 | ||||||
|
|
|||||||
5,892,981 | ||||||||
Pennsylvania — 1.8% | ||||||||
Bucks County Water & Sewer Authority RB, 4.00%, 06/01/22 (BAM) |
100 | 102,141 | ||||||
City of Philadelphia PA Airport Revenue RB, Series A, 5.00%, 07/01/22 |
200 | 206,273 | ||||||
City of Philadelphia PA Water & Wastewater Revenue RB, Series B, 5.00%, 07/01/22 |
440 | 454,070 | ||||||
Commonwealth
of Pennsylvania GO |
150 | 151,798 | ||||||
5.00%, 07/15/22 |
200 | 206,782 | ||||||
First Series, 5.00%, 03/15/22 |
540 | 549,662 | ||||||
First Series, 5.00%, 04/01/22 |
295 | 300,910 | ||||||
First Series, 5.00%, 06/01/22 |
360 | 370,075 | ||||||
First Series, 5.00%, 06/15/22 |
125 | 128,739 | ||||||
First Series, 5.00%, 07/01/22 |
875 | 903,040 | ||||||
First Series, 5.00%, 09/15/22 |
320 | 333,405 | ||||||
Second Series, 5.00%, 01/15/22 |
380 | 383,738 | ||||||
Second Series, 5.00%, 08/15/22 |
130 | 134,927 | ||||||
Second Series, 5.00%, 09/15/22 |
100 | 104,189 | ||||||
Second Series, 5.00%, 10/15/22 |
100 | 104,587 | ||||||
County of Montgomery GO, 5.00%, 05/01/22 |
200 | 204,819 | ||||||
County of Montgomery PA GO, Series A, 5.00%, 08/15/22 |
125 | 129,748 | ||||||
Delaware River Joint Toll Bridge Commission RB, 5.00%, 07/01/22 |
95 | 98,018 | ||||||
Lower Merion School District GOL, 5.00%, 09/15/22 (SAW) |
290 | 302,174 | ||||||
Pennsylvania Higher Educational Facilities Authority RB, Series A, 4.00%, 12/01/22 |
110 | 114,525 | ||||||
Pennsylvania Intergovernmental Cooperation Authority RB, 5.00%, 06/15/22 |
130 | 133,880 | ||||||
Pennsylvania
Turnpike Commission RB |
200 | 210,273 | ||||||
Series A-1, 5.00%, 12/01/22 |
415 | 436,362 | ||||||
Series B, 5.00%, 06/01/22 |
150 | 154,162 | ||||||
Series B, 5.00%, 12/01/22 |
120 | 126,177 | ||||||
Philadelphia Gas Works Co. RB, 5.00%, 08/01/22 |
100 | 103,527 | ||||||
Pittsburgh Water & Sewer Authority RB, Series A, 5.00%, 09/01/22 |
300 | 311,699 | ||||||
West Chester Area School District/PA GO, Series AA, 4.00%, 05/15/22 (SAW) |
185 | 188,803 | ||||||
|
|
|||||||
6,948,503 | ||||||||
Rhode Island — 1.0% | ||||||||
Rhode Island Commerce Corp. RB, Series A, 5.00%, 06/15/22 . |
765 | 787,639 | ||||||
Rhode Island Health & Educational Building Corp. RB, 5.00%, 09/01/22 |
1,055 | 1,097,227 | ||||||
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB |
||||||||
Series B, 5.00%, 10/01/22 |
800 | 835,192 | ||||||
Series C, 5.00%, 10/01/22 |
205 | 214,005 |
Security | Par (000) |
Value | ||||||
Rhode Island (continued) | ||||||||
Serise A, 5.00%, 10/01/22 |
$ | 160 | $ | 167,028 | ||||
State of Rhode Island COP, Series A, 5.00%, 10/01/22 |
50 | 52,125 | ||||||
State of Rhode Island GO |
||||||||
Series A, 5.00%, 05/01/22 |
195 | 199,679 | ||||||
Series A, 5.00%, 08/01/22 |
325 | 336,688 | ||||||
|
|
|||||||
3,689,583 | ||||||||
South Carolina — 0.7% | ||||||||
Beaufort County School District/SC GO, Series A, 5.00%, 03/01/22 |
55 | 55,881 | ||||||
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/22 |
300 | 315,477 | ||||||
City of Charleston SC Waterworks & Sewer System Revenue RB, 5.00%, 01/01/22 |
50 | 50,398 | ||||||
City of Columbia SC Waterworks & Sewer System Revenue RB, 4.00%, 02/01/22 |
135 | 136,288 | ||||||
Greenville County School District RB, 5.00%, 12/01/22 |
180 | 189,387 | ||||||
Piedmont Municipal Power Agency RB, Series A-2, 0.00%, 01/01/22 (NPFGC)(a) |
25 | 24,978 | ||||||
SCAGO Educational Facilities Corp. for Pickens School District RB, 5.00%, 12/01/22 |
70 | 73,572 | ||||||
South Carolina Public Service Authority RB, Series A, 5.00%, 12/01/22 |
195 | 204,972 | ||||||
South Carolina Transportation Infrastructure Bank RB, Series B, 5.00%, 10/01/22 |
625 | 651,981 | ||||||
State of South Carolina GO |
||||||||
Series A, 4.00%, 04/01/22 (SAW) |
20 | 20,321 | ||||||
Series A, 5.00%, 10/01/22 |
245 | 255,831 | ||||||
Series B, 5.00%, 04/01/22 (SAW) |
400 | 408,082 | ||||||
University of South Carolina RB, 5.00%, 05/01/22 |
70 | 71,680 | ||||||
|
|
|||||||
2,458,848 | ||||||||
Tennessee — 1.3% | ||||||||
City of Clarksville TN Water Sewer & Gas Revenue RB, 5.00%, 02/01/22 |
195 | 197,336 | ||||||
City of Memphis TN Electric System Revenue, 5.00%, 12/01/22 |
100 | 105,215 | ||||||
City of Memphis TN Electric System Revenue RB, 4.00%, 12/01/22 |
135 | 140,583 | ||||||
County of Hamilton TN GO |
||||||||
Series A, 5.00%, 05/01/22 |
195 | 199,679 | ||||||
Series B, 5.00%, 03/01/22 |
150 | 152,397 | ||||||
County of Knox TN GO, Series B, 5.00%, 06/01/22 |
210 | 215,902 | ||||||
County of Rutherford TN GO, 5.00%, 04/01/22 |
265 | 270,287 | ||||||
County of Shelby TN GO, Series A, 5.00%, 04/01/22 |
130 | 132,616 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facility Building RB, Series D, 5.00%, 10/01/22 |
105 | 109,540 | ||||||
Metropolitan
Government of Nashville & Davidson County TN
GO |
645 | 665,846 | ||||||
Series A, 5.00%, 01/01/22 |
240 | 241,925 | ||||||
Series A, 5.00%, 07/01/22 |
45 | 46,454 | ||||||
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB, 5.00%, 07/01/22 |
565 | 583,210 | ||||||
State of Tennessee GO |
||||||||
Series A, 5.00%, 08/01/22 |
880 | 911,714 | ||||||
Series A, 5.00%, 09/01/22 |
340 | 353,609 | ||||||
Tennessee Energy Acquisition Corp. RB, Series C, 5.00%, 02/01/22 |
30 | 30,348 |
38 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Tennessee (continued) | ||||||||
Tennessee
State School Bond Authority RB |
$ | 175 | $ | 183,398 | ||||
Series A, 5.00%, 11/01/22 |
225 | 235,797 | ||||||
Series B, 5.00%, 11/01/22 |
165 | 172,918 | ||||||
Town of Collierville TN GO, Series A, 5.00%, 01/01/22 |
135 | 136,078 | ||||||
|
|
|||||||
5,084,852 | ||||||||
Texas — 10.6% | ||||||||
Aldine Independent School District GO, 5.00%, 02/15/22 (PSF) |
25 | 25,348 | ||||||
Allen Independent School District GO, 5.00%, 02/15/22 (PSF) |
200 | 202,774 | ||||||
Austin Community College District GOL, 5.00%, 08/01/22 |
90 | 93,223 | ||||||
Austin Community College District Public Facility Corp. RB, 5.00%, 08/01/22 |
115 | 119,109 | ||||||
Austin
Independent School District GO |
120 | 124,325 | ||||||
Series A, 5.00%, 08/01/22 |
260 | 269,370 | ||||||
Series B, 5.00%, 08/01/22 |
75 | 77,703 | ||||||
Series B, 5.00%, 08/01/22 (PSF) |
90 | 93,244 | ||||||
Birdville Independent School District GO |
||||||||
Series A, 5.00%, 02/15/22 (PSF) |
180 | 182,507 | ||||||
Series B, 5.00%, 02/15/22 (PSF) |
35 | 35,487 | ||||||
Board of Regents of the University of Texas System RB |
||||||||
Series A, 5.00%, 08/15/22 |
345 | 358,131 | ||||||
Series B, 5.00%, 08/15/22 |
150 | 155,709 | ||||||
Canadian River Municipal Water Authority Corp. RB, 5.00%, 02/15/22 |
125 | 126,693 | ||||||
Central
Texas Regional Mobility Authority RB |
50 | 50,384 | ||||||
Series A, 5.00%, 01/01/22 |
10 | 10,077 | ||||||
Central Texas Turnpike System RB |
||||||||
Series A, 0.00%, 08/15/22 (AMBAC)(a) |
180 | 179,501 | ||||||
Series A, 5.00%, 08/15/41 (PR 08/15/22) |
185 | 192,044 | ||||||
City of Arlington TX GOL, 5.00%, 08/15/22 |
105 | 108,962 | ||||||
City of Austin TX Electric Utility Revenue RB, Series A, 5.00%, 11/15/22 |
715 | 750,624 | ||||||
City
of Austin TX GOL |
175 | 181,249 | ||||||
5.00%, 09/01/22 |
290 | 301,558 | ||||||
Series A, 5.00%, 09/01/22 |
180 | 187,174 | ||||||
City
of Austin TX Water & Wastewater System Revenue
RB |
270 | 283,386 | ||||||
Series A, 5.00%, 05/15/22 |
135 | 138,491 | ||||||
Series A, 5.00%, 05/15/22 (ETM) |
25 | 25,636 | ||||||
Series A, 5.00%, 11/15/22 |
605 | 635,078 | ||||||
City of Carrollton TX GOL, 5.00%, 08/15/22 |
175 | 181,661 | ||||||
City of Corpus Christi TX Utility System Revenue RB, Series C, 5.00%, 07/15/22 |
45 | 46,513 | ||||||
City of Dallas TX GOL, 5.00%, 02/15/22 |
190 | 192,630 | ||||||
City of Dallas TX Waterworks & Sewer System Revenue RB |
||||||||
Series A, 5.00%, 10/01/22 |
445 | 464,421 | ||||||
Serise C, 5.00%, 10/01/22 |
200 | 208,728 | ||||||
City of El Paso TX GOL, 5.00%, 08/15/22 |
130 | 134,937 | ||||||
City
of El Paso TX Water & Sewer Revenue
RB |
30 | 30,483 | ||||||
Serise A, 5.00%, 03/01/22 |
500 | 508,042 | ||||||
City of Fort Worth TX GOL, 5.00%, 03/01/22 |
85 | 86,358 | ||||||
City of Fort Worth TX Water & Sewer System Revenue RB, 5.00%, 02/15/22 |
415 | 420,731 | ||||||
City of Garland TX Water & Sewer System Revenue RB, Series A, 5.00%, 03/01/22 |
115 | 116,830 |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
City of Houston TX Airport System Revenue RB, Series B, 5.00%, 07/01/22 |
$ | 125 | $ | 129,006 | ||||
City of Houston TX Combined Utility System Revenue RB |
||||||||
Series B, 5.00%, 11/15/22 |
370 | 388,236 | ||||||
Series C, 5.00%, 05/15/22 |
505 | 518,086 | ||||||
Series D, 5.00%, 11/15/22 |
125 | 131,161 | ||||||
City of Houston TX GOL, Series A, 5.00%, 03/01/22 |
310 | 314,973 | ||||||
City of Houston TX Hotel Occupancy Tax RB, 5.00%, 09/01/22 . |
80 | 83,092 | ||||||
City
of Lubbock TX GOL |
55 | 55,760 | ||||||
Series A, 4.00%, 02/15/22 |
225 | 227,464 | ||||||
City of McKinney TX GOL, 5.00%, 08/15/22 |
250 | 259,475 | ||||||
City
of Plano TX GOL |
485 | 504,412 | ||||||
Series A, 5.00%, 09/01/22 |
125 | 130,003 | ||||||
City
of San Antonio Texas Electric & Gas Systems Revenue
RB |
215 | 217,572 | ||||||
Series REF, 5.00%, 02/01/22 |
1,130 | 1,143,576 | ||||||
City of San Antonio Texas GOL, 5.00%, 02/01/22 |
40 | 40,480 | ||||||
City of San Antonio Texas RB, 5.00%, 02/01/22 |
125 | 126,502 | ||||||
City
of San Antonio TX Electric & Gas Systems Revenue
RB |
260 | 263,117 | ||||||
5.00%, 02/01/22 (ETM) |
130 | 131,539 | ||||||
Clear
Creek Independent School District GO |
140 | 141,942 | ||||||
Series D, 5.00%, 02/15/22 (PSF) |
190 | 192,635 | ||||||
College Station Independent School District GO, 5.00%, 08/15/22 (PSF) |
100 | 103,806 | ||||||
Comal Independent School District GO, Series A, 5.00%, 02/01/22 (PSF) |
100 | 101,207 | ||||||
Conroe Independent School District GO, 5.00%, 02/15/22 (PSF) |
100 | 101,387 | ||||||
County of Fort Bend TX GO, 5.00%, 03/01/22 |
175 | 177,803 | ||||||
County of Harris TX GOL |
||||||||
Series A, 5.00%, 10/01/22 |
695 | 725,322 | ||||||
Series B, 5.00%, 10/01/22 |
85 | 88,742 | ||||||
County of Harris TX RB |
||||||||
Series A, 5.00%, 08/15/22 |
195 | 202,343 | ||||||
Series B, 5.00%, 08/15/22 |
185 | 191,966 | ||||||
County of Tarrant TX GOL, 5.00%, 07/15/22 |
405 | 418,763 | ||||||
Cypress-Fairbanks
Independent School District GO, |
200 | 202,791 | ||||||
Dallas Area Rapid Transit RB |
||||||||
Series A, 5.00%, 12/01/22 |
460 | 483,936 | ||||||
Series B, 4.00%, 12/01/22 |
150 | 156,187 | ||||||
Series B, 5.00%, 12/01/22 |
740 | 778,507 | ||||||
Dallas
Independent School District GO, Series A, |
125 | 129,737 | ||||||
Dallas/Fort Worth International Airport RB |
||||||||
Series C, 5.00%, 11/01/22 |
360 | 377,275 | ||||||
Series E, 5.00%, 11/01/22 |
155 | 162,438 | ||||||
Series F, 5.00%, 11/01/22 |
295 | 309,156 | ||||||
Series G, 5.00%, 11/01/22 |
25 | 26,200 | ||||||
Deer Park Independent School District GOL, 5.00%, 02/15/22 (PSF) |
80 | 81,112 | ||||||
Eagle Mountain & Saginaw Independent School District GO, Series A, 5.00%, 08/15/22 (PSF) |
95 | 98,600 | ||||||
Fort Bend Independent School District GO 5.00%, 08/15/22 (PSF) |
200 | 207,629 |
SCHEDULE OF INVESTMENTS |
39 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Series A, 5.00%, 08/15/22 (PSF) |
$ | 80 | $ | 83,051 | ||||
Fort Worth Independent School District GO, 5.00%, 02/15/22 (PSF) |
385 | 390,328 | ||||||
Frisco Independent School District GO |
||||||||
4.00%, 08/15/22 (PSF) |
40 | 41,205 | ||||||
5.00%, 08/15/22 (PSF) |
165 | 171,267 | ||||||
Grand Prairie Independent School District GO, 5.00%, 02/15/22 (PSF) |
225 | 228,134 | ||||||
Harris
County Cultural Education Facilities Finance Corp.
RB |
105 | 109,592 | ||||||
5.00%, 11/15/22 |
25 | 26,205 | ||||||
Harris County Toll Road Authority (The) RB, Series A, 5.00%, 08/15/22 |
340 | 352,803 | ||||||
Houston Community College System GOL, 5.00%, 02/15/22 |
155 | 157,145 | ||||||
Houston
Independent School District GOL |
275 | 278,814 | ||||||
Series A, 5.00%, 02/15/22 (PSF) |
110 | 111,526 | ||||||
Katy Independent School District GO, Series A, 4.00%, 02/15/22 (PSF) |
20 | 20,220 | ||||||
Keller
Independent School District/TX GO |
30 | 31,139 | ||||||
Series A, 5.00%, 08/15/22 (PSF) |
45 | 46,709 | ||||||
Klein
Independent School District GO |
125 | 129,495 | ||||||
Series A, 5.00%, 02/01/22 (PSF) |
190 | 192,273 | ||||||
Lamar Consolidated Independent School District GO, 5.00%, 02/15/22 (PSF) |
315 | 319,368 | ||||||
Leander Independent School District GO |
||||||||
Series A, 0.00%, 08/15/22 (PSF)(a) |
135 | 134,755 | ||||||
Series B, 0.00%, 08/15/22(a) |
50 | 49,865 | ||||||
Lewisville
Independent School District GO |
500 | 499,242 | ||||||
5.00%, 08/15/22 (PSF) |
155 | 160,900 | ||||||
Series A, 4.00%, 08/15/22 (PSF) |
140 | 144,229 | ||||||
Series A, 5.00%, 08/15/22 (PSF) |
45 | 46,713 | ||||||
Lone
Star College System GOL |
215 | 223,968 | ||||||
Series B, 5.00%, 02/15/22 |
135 | 136,864 | ||||||
Lower
Colorado River Authority RB |
500 | 512,901 | ||||||
Series B, 5.00%, 05/15/22 |
130 | 133,292 | ||||||
Series D, 5.00%, 05/15/22 |
125 | 128,225 | ||||||
Mesquite Independent School District GO, Series C, 5.00%, 08/15/22 (PSF) |
115 | 119,377 | ||||||
Metropolitan Transit Authority of Harris County RB 5.00%, 11/01/22 |
120 | 125,746 | ||||||
Series B, 5.00%, 11/01/22 |
120 | 125,746 | ||||||
Midway Independent School District/McLennan County GO, 5.00%, 08/01/22 (PSF) |
145 | 150,248 | ||||||
North Central Texas Health Facility Development Corp. RB, 5.00%, 08/15/22 |
20 | 20,750 | ||||||
North
East Independent School District/TX GO |
55 | 56,991 | ||||||
5.25%, 02/01/22 (PSF) |
165 | 167,088 | ||||||
North
Texas Municipal Water District RB |
355 | 364,935 | ||||||
6.25%, 06/01/22 |
85 | 87,995 | ||||||
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/22 |
280 | 291,183 | ||||||
North Texas Tollway Authority, Series B, 5.00%, 01/01/22 |
100 | 100,795 |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
North Texas Tollway Authority RB |
||||||||
Series A, 5.00%, 01/01/22 |
$ | 940 | $ | 947,466 | ||||
Series B, 5.00%, 01/01/22 |
180 | 181,425 | ||||||
Northside
Independent School District GO |
390 | 401,715 | ||||||
5.00%, 08/15/22 (PSF) |
480 | 498,270 | ||||||
Series A, 5.00%, 06/01/22 (PSF) |
75 | 77,112 | ||||||
Northwest
Independent School District GO |
120 | 121,671 | ||||||
Series A, 5.00%, 02/15/22 (PSF) |
250 | 253,482 | ||||||
Permanent University Fund - Texas A&M University System RB, Series A, 5.00%, 07/01/22 |
100 | 103,205 | ||||||
Permanent University Fund - University of Texas System RB, Series A, 5.00%, 07/01/22 |
100 | 103,211 | ||||||
Permanent University Fund RB - Texas A&M University System, 5.00%, 07/01/22 |
330 | 340,575 | ||||||
Pflugerville
Independent School District GO |
150 | 152,089 | ||||||
Series A, 5.00%, 02/15/22 |
300 | 304,178 | ||||||
Plano Independent School District GO, Series A, 5.00%, 02/15/22 (PSF) |
60 | 60,839 | ||||||
Port Authority of Houston of Harris County Texas GO, Series A, 5.00%, 10/01/22 |
140 | 146,123 | ||||||
San
Antonio Independent School District/TX GO |
630 | 638,737 | ||||||
5.00%, 08/15/22 (PSF) |
100 | 103,790 | ||||||
San
Antonio Water System RB |
65 | 66,688 | ||||||
5.00%, 05/15/22 (ETM) |
105 | 107,688 | ||||||
Series A, 5.00%, 05/15/22 |
435 | 446,296 | ||||||
Series A, 5.00%, 05/15/22 (ETM) |
185 | 189,735 | ||||||
Series B, 5.00%, 05/15/22 |
200 | 205,194 | ||||||
San Jacinto College District GOL, 5.00%, 02/15/22 |
100 | 101,363 | ||||||
Southwest
Higher Education Authority Inc. RB,
Series SE, |
55 | 57,374 | ||||||
Spring
Branch Independent School District GOL,
Series B, |
240 | 242,890 | ||||||
Spring
Independent School District GO |
100 | 103,758 | ||||||
5.00%, 08/15/22 (PSF) |
250 | 259,394 | ||||||
State
of Texas GO |
115 | 117,309 | ||||||
5.00%, 10/01/22 |
890 | 929,261 | ||||||
Series A, 5.00%, 10/01/22 |
1,095 | 1,143,304 | ||||||
Tarrant
County Cultural Education Facilities Finance Corp.
RB |
105 | 109,573 | ||||||
5.00%, 12/01/22 |
45 | 47,316 | ||||||
Tarrant Regional Water District RB, 5.00%, 09/01/22 |
145 | 150,804 | ||||||
Tarrant Regional Water District Water Supply System RB, 5.00%, 03/01/22 |
265 | 269,244 | ||||||
Texas A&M University RB |
||||||||
Series A, 5.00%, 05/15/22 |
75 | 76,943 | ||||||
Series B, 5.00%, 05/15/22 |
20 | 20,518 | ||||||
Series D, 5.00%, 05/15/22 |
265 | 271,867 | ||||||
Series E, 5.00%, 05/15/22 |
400 | 410,365 | ||||||
Serise C, 5.00%, 05/15/22 |
100 | 102,591 | ||||||
Texas
State University System RB |
325 | 330,803 | ||||||
Series A, 5.00%, 03/15/22 |
455 | 463,124 |
40 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Texas Transportation Commission State Highway Fund RB |
||||||||
First Series, 5.00%, 10/01/22 |
$ | 990 | $ | 1,033,580 | ||||
Series A, 5.00%, 04/01/22 |
300 | 306,011 | ||||||
Series A, 5.00%, 10/01/22 |
240 | 250,565 | ||||||
Texas
Water Development Board RB |
1,000 | 1,026,841 | ||||||
5.00%, 04/15/22 |
80 | 81,760 | ||||||
5.00%, 08/01/22 |
230 | 238,289 | ||||||
5.00%, 10/15/22 |
160 | 167,339 | ||||||
Series A, 5.00%, 04/15/22 |
250 | 255,500 | ||||||
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/22 |
210 | 217,568 | ||||||
Trinity River Authority RB, 5.00%, 02/01/22 |
135 | 136,615 | ||||||
University of Houston RB, Series A, 5.00%, 02/15/22 |
105 | 106,462 | ||||||
University
of North Texas System RB |
155 | 158,374 | ||||||
5.00%, 04/15/22 (ETM) |
60 | 61,289 | ||||||
Series A, 5.00%, 04/15/22 |
150 | 153,265 | ||||||
University of Texas System (The) RB |
||||||||
Series A, 5.00%, 08/15/22 |
295 | 306,228 | ||||||
Series C, 5.00%, 08/15/22 |
415 | 430,796 | ||||||
Series E, 5.00%, 08/15/22 |
320 | 332,180 | ||||||
Weatherford Independent School District GO, 0.00%, 02/15/22 (PSF)(a) |
115 | 114,944 | ||||||
Wylie Independent School District/TX GO, Series B, 4.00%, 08/15/22 (PSF) |
165 | 169,984 | ||||||
|
|
|||||||
40,099,021 | ||||||||
Utah — 1.1% | ||||||||
Alpine School District/UT GO, Series B, 5.00%, 03/15/22 (GTD) |
300 | 305,402 | ||||||
Central Utah Water Conservancy District RB, Series B, 5.00%, 10/01/22 |
165 | 172,263 | ||||||
Intermountain Power Agency RB, Series A, 5.00%, 07/01/22 |
170 | 175,378 | ||||||
Metropolitan Water District of Salt Lake & Sandy RB, Series A, 4.00%, 07/01/22 |
350 | 358,918 | ||||||
Provo School District GO, 5.00%, 06/15/22 (GTD) |
20 | 20,594 | ||||||
Salt Lake City Corp. RB, Series A, 4.00%, 10/01/22 |
70 | 72,449 | ||||||
State of Utah GO, 5.00%, 07/01/22 |
400 | 412,818 | ||||||
University of Utah (The) RB |
||||||||
Series A, 5.00%, 08/01/22 |
350 | 362,587 | ||||||
Series B, 5.00%, 08/01/22 |
325 | 336,688 | ||||||
Utah State Building Ownership Authority RB, 5.00%, 05/15/22 |
835 | 856,270 | ||||||
Utah
Transit Authority RB |
735 | 757,049 | ||||||
Series A, 5.00%, 06/15/22 |
155 | 159,587 | ||||||
Series A, 5.25%, 06/15/22 |
180 | 185,674 | ||||||
|
|
|||||||
4,175,677 | ||||||||
Vermont — 0.1% | ||||||||
Vermont Municipal Bond Bank RB |
||||||||
Series 1, 5.00%, 12/01/22 |
325 | 341,839 | ||||||
Series 5, 5.00%, 12/01/22 |
60 | 63,108 | ||||||
|
|
|||||||
404,947 | ||||||||
Virginia — 4.4% | ||||||||
City of Alexandria VA GO |
||||||||
Series A, 5.00%, 07/15/22 (SAW) |
125 | 129,239 | ||||||
Series B, 4.00%, 06/15/25 (PR 06/15/22) (SAW) |
1,245 | 1,274,643 | ||||||
Series B, 5.00%, 06/15/22 (SAW) |
270 | 278,076 | ||||||
City of Hampton VA GO, Series B, 5.00%, 09/01/22 (SAW) |
45 | 46,801 |
Security | Par (000) |
Value | ||||||
Virginia (continued) | ||||||||
City
of Norfolk VA GO |
$ | 310 | $ | 321,148 | ||||
Series A, 5.00%, 09/01/22 (SAW) |
205 | 213,188 | ||||||
City of Richmond VA GO |
||||||||
Series A, 5.00%, 03/01/22 (SAW) |
340 | 345,480 | ||||||
Series B, 5.00%, 07/15/22 |
100 | 103,413 | ||||||
City of Virginia Beach VA GO, Series B, 5.00%, 09/15/22 (SAW) |
100 | 104,189 | ||||||
Commonwealth of Virginia GO |
||||||||
Series A, 5.00%, 06/01/22 |
565 | 580,845 | ||||||
Series A, 5.00%, 06/01/22 (ETM) |
160 | 164,433 | ||||||
County of Fairfax VA GO |
||||||||
Series A, 4.00%, 10/01/22 (SAW) |
275 | 284,595 | ||||||
Series A, 5.00%, 10/01/22 (SAW) |
915 | 955,278 | ||||||
Series B, 4.00%, 10/01/22 (SAW) |
105 | 108,664 | ||||||
Series B, 5.00%, 10/01/22 (SAW) |
325 | 339,306 | ||||||
County of Henrico VA GO, 4.00%, 08/01/22 |
50 | 51,436 | ||||||
County
of Henrico VA Water & Sewer Revenue RB, |
30 | 30,724 | ||||||
County of Loudoun VA GO, Series A, 5.00%, 12/01/22 (SAW) |
75 | 78,903 | ||||||
Hampton Roads Sanitation District RB, Serise A, 5.00%, 08/01/22 |
250 | 259,048 | ||||||
Hampton Roads Transportation Accountability Commission RB, Series A, 5.00%, 07/01/22 |
840 | 866,861 | ||||||
University of Virginia RB, Series A, 5.00%, 06/01/22 |
125 | 128,520 | ||||||
Virginia Beach Development Authority RB, Series B, 5.00%, 12/01/22 |
45 | 47,321 | ||||||
Virginia
College Building Authority RB |
75 | 75,901 | ||||||
5.00%, 09/01/22 (ST INTERCEPT) |
255 | 265,229 | ||||||
5.00%, 09/01/22 (ETM) (ST INTERCEPT) |
520 | 540,769 | ||||||
5.00%, 02/01/25 (PR 02/01/22) |
110 | 111,316 | ||||||
Series A, 5.00%, 02/01/22 |
450 | 455,407 | ||||||
Series A, 5.00%, 09/01/22 (SAW) |
95 | 98,810 | ||||||
Series A, 5.00%, 09/01/22 (ETM) (SAW) |
55 | 57,173 | ||||||
Series B, 5.00%, 09/01/22 (ST INTERCEPT) |
65 | 67,607 | ||||||
Series B, 5.00%, 09/01/22 (ETM) (ST INTERCEPT) |
35 | 36,383 | ||||||
Series B, 5.00%, 02/01/23 (PR 02/01/22) |
1,000 | 1,011,964 | ||||||
Series D, 5.00%, 02/01/22 |
145 | 146,742 | ||||||
Series E-2, 5.00%, 02/01/22 |
50 | 50,601 | ||||||
Virginia
Commonwealth Transportation Board, |
120 | 125,037 | ||||||
Virginia
Commonwealth Transportation Board RB |
405 | 415,517 | ||||||
5.00%, 05/15/25 (PR 05/15/22) |
1,020 | 1,046,388 | ||||||
Series A, 4.50%, 03/15/22 |
645 | 655,374 | ||||||
Series A, 5.00%, 09/15/25 (PR 03/15/22) |
510 | 519,110 | ||||||
Series B, 5.00%, 05/15/22 |
175 | 179,544 | ||||||
Virginia
Commonwealth Transportation Board RB , |
95 | 97,467 | ||||||
Virginia Public Building Authority RB |
||||||||
Series A, 5.00%, 08/01/22 |
945 | 979,131 | ||||||
Series B, 5.00%, 08/01/22 |
100 | 103,612 | ||||||
Series C, 5.00%, 08/01/22 |
310 | 321,196 | ||||||
Virginia
Public School Authority RB |
275 | 284,932 | ||||||
Series A, 5.00%, 08/01/22 |
50 | 51,806 | ||||||
Series A, 5.00%, 08/01/22 (SAW) |
75 | 77,709 | ||||||
Series B, 5.00%, 08/01/22 |
360 | 373,002 | ||||||
Series B, 5.00%, 08/01/22 (SAW) |
535 | 554,322 |
SCHEDULE OF INVESTMENTS |
41 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Virginia (continued) |
||||||||
Series B, 5.00%, 08/01/22 (ETM) |
$ | 5 | $ | 5,179 | ||||
Virginia
Resources Authority Clean Water Revolving Fund RB, |
40 | 41,764 | ||||||
Virginia
Resources Authority RB |
500 | 524,045 | ||||||
5.00%, 11/01/22 (ETM) |
50 | 52,410 | ||||||
Series A, 5.00%, 11/01/22 |
405 | 424,476 | ||||||
Serise S, 5.00%, 11/01/22 |
165 | 172,935 | ||||||
|
|
|||||||
16,634,969 | ||||||||
Washington — 5.3% |
||||||||
Central Puget Sound Regional Transit Authority RB, |
||||||||
Series S-1, 5.00%, 11/01/22 |
170 | 178,193 | ||||||
Central Washington University RB, 5.00%, 05/01/22 |
50 | 51,154 | ||||||
City
of Seattle WA Drainage & Wastewater Revenue RB |
200 | 204,007 | ||||||
5.00%, 05/01/22 |
395 | 404,498 | ||||||
City of Seattle WA GOL |
||||||||
Series A, 5.00%, 04/01/22 |
750 | 765,058 | ||||||
Series A, 5.00%, 06/01/22 |
65 | 66,827 | ||||||
Series A, 5.00%, 12/01/22 |
100 | 105,204 | ||||||
City
of Seattle WA Municipal Light & Power Revenue RB |
535 | 556,322 | ||||||
Series A, 5.00%, 01/01/22 |
115 | 115,911 | ||||||
Series A, 5.00%, 05/01/22 |
75 | 76,796 | ||||||
Series C, 5.00%, 10/01/22 |
160 | 167,013 | ||||||
City of Seattle WA Water System Revenue RB, 5.00%, 09/01/22 |
330 | 343,208 | ||||||
City
of Tacoma WA Electric System Revenue, Series B, |
135 | 136,067 | ||||||
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/22 |
100 | 100,799 | ||||||
City of Vancouver WA GOL, Series B, 5.00%, 12/01/22 |
330 | 347,209 | ||||||
Clark County Public Utility District No. 1 RB, 5.00%, 01/01/22 |
135 | 136,067 | ||||||
Clark
County School District No. 119 Battleground GO, |
155 | 161,272 | ||||||
County of King WA GO, 5.00%, 12/01/22 |
600 | 631,154 | ||||||
County
of King WA GOL |
20 | 20,823 | ||||||
5.00%, 01/01/22 |
100 | 100,795 | ||||||
5.25%, 01/01/22 |
80 | 80,669 | ||||||
Series C, 5.00%, 12/01/22 |
105 | 110,452 | ||||||
Series E, 5.00%, 12/01/22 |
120 | 126,231 | ||||||
County of King WA Sewer Revenue RB Series A, 5.00%, 01/01/22 |
25 | 25,199 | ||||||
Series B, 5.00%, 07/01/22 |
710 | 732,752 | ||||||
Series C, 4.00%, 01/01/22 |
100 | 100,631 | ||||||
County of Snohomish WA GOL, 5.00%, 12/01/22 |
140 | 147,301 | ||||||
Energy Northwest RB, Series A, 5.00%, 07/01/22 |
975 | 1,006,213 | ||||||
Grant
County Public Utility District No. 2 RB, Series A, |
125 | 125,992 | ||||||
King &
Snohomish Counties School District No. 417 |
225 | 236,683 | ||||||
5.00%, 12/01/22 (GTD) |
565 | 594,337 | ||||||
King County Rural Library District GO, 4.00%, 12/01/22 |
355 | 369,682 | ||||||
King
County School District No. 405 Bellevue GO, |
455 | 478,574 | ||||||
King
County School District No. 409 Tahoma GO, |
220 | 231,423 |
Security | Par (000) |
Value | ||||||
Washington (continued) |
||||||||
King
County School District No. 414 Lake Washington GO, |
$ | 345 | $ | 362,952 | ||||
Pierce
County School District No. 10 Tacoma GO, |
570 | 599,596 | ||||||
Port of Seattle WA RB |
||||||||
Series A, 5.00%, 08/01/22 |
435 | 450,610 | ||||||
Series B, 5.00%, 03/01/22 |
110 | 111,754 | ||||||
Port of Tacoma WA RB, Series A, 5.00%, 12/01/22 |
135 | 141,964 | ||||||
Snohomish
County Public Utility District No. 1 RB, |
190 | 199,908 | ||||||
Snohomish
County School District No. 201 Snohomish GO, |
230 | 241,891 | ||||||
State of Washington COP |
||||||||
Series A, 5.00%, 07/01/22 |
150 | 154,704 | ||||||
Series B, 4.00%, 07/01/22 |
295 | 302,297 | ||||||
State
of Washington GO |
260 | 268,367 | ||||||
Series A, 5.00%, 08/01/22 |
100 | 103,619 | ||||||
Series A, 5.00%, 08/01/26 (PR 08/01/22) |
1,750 | 1,812,933 | ||||||
Series B, 5.00%, 02/01/22 |
250 | 253,016 | ||||||
Series B, 5.00%, 07/01/22 |
495 | 510,930 | ||||||
Series B, 5.00%, 08/01/22 |
160 | 165,791 | ||||||
Series C, 0.00%, 06/01/22 (AMBAC)(a) |
135 | 134,816 | ||||||
Series C, 5.00%, 06/01/22 |
40 | 41,126 | ||||||
Series D, 5.00%, 02/01/22 |
120 | 121,448 | ||||||
Series D, 5.00%, 07/01/22 |
25 | 25,805 | ||||||
Series D, 5.25%, 02/01/22 |
100 | 101,268 | ||||||
Series F, 0.00%, 12/01/22 (NPFGC)(a) |
65 | 64,792 | ||||||
Series F, 5.00%, 07/01/22 |
190 | 196,115 | ||||||
Series R-2012C, 4.00%, 07/01/22 |
480 | 492,264 | ||||||
Series R-2012D, 5.00%, 07/01/22 |
115 | 118,701 | ||||||
Series R-2015E, 5.00%, 07/01/22 |
330 | 340,620 | ||||||
Series R-2017A, 5.00%, 08/01/22 |
200 | 207,162 | ||||||
Series R-C, 5.00%, 07/01/22 |
105 | 108,379 | ||||||
Series R-D, 5.00%, 08/01/22 |
250 | 259,048 | ||||||
Serise R-2020C, 5.00%, 07/01/22 |
320 | 330,298 | ||||||
State
of Washington RB |
260 | 270,407 | ||||||
Series F, 5.00%, 09/01/22 |
495 | 514,813 | ||||||
University
of Washington RB |
165 | 168,306 | ||||||
Series A, 5.00%, 12/01/22 |
75 | 78,894 | ||||||
Series B, 5.00%, 06/01/22 |
100 | 102,804 | ||||||
Series C, 5.00%, 12/01/22 |
595 | 625,895 | ||||||
Washington
Health Care Facilities Authority RB, Series A, |
125 | 131,018 | ||||||
Washington
State University RB |
215 | 219,280 | ||||||
5.00%, 10/01/22 |
200 | 208,729 | ||||||
Yakima
County School District No. 7 Yakima GO, |
175 | 184,047 | ||||||
Yakima
County School District No. 90 East Valley GO, |
130 | 136,634 | ||||||
|
|
|||||||
19,897,517 | ||||||||
West Virginia — 0.5% |
||||||||
State of West Virginia GO |
||||||||
Series A, 5.00%, 11/01/22 |
575 | 602,711 | ||||||
Serise A, 5.00%, 06/01/22 |
150 | 154,225 | ||||||
West
Virginia Commissioner of Highways, Series A, |
150 | 155,914 |
42 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value |
||||||
West Virginia (continued) |
||||||||
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/22 |
$ | 440 | $ | 457,347 | ||||
West Virginia State School Building Authority Lottery RB, |
||||||||
Series A, 5.00%, 07/01/22 |
250 | 257,990 | ||||||
West Virginia Water Development Authority RB, Series A, 5.00%, 07/01/22 |
200 | 206,354 | ||||||
|
|
|||||||
1,834,541 | ||||||||
Wisconsin — 3.2% |
||||||||
City of Madison WI GO, Series A, 4.00%, 10/01/22 |
100 | 103,489 | ||||||
City of Milwaukee WI GO |
||||||||
Series N2, 5.00%, 05/01/22 |
30 | 30,709 | ||||||
Series N2, 5.00%, 05/15/22 |
125 | 128,184 | ||||||
City of Milwaukee WI Sewerage System Revenue RB, |
||||||||
Series S5, 5.00%, 06/01/22 |
260 | 267,168 | ||||||
Madison Metropolitan School District/WI GO, 4.00%, 03/01/22 |
95 | 96,214 | ||||||
Milwaukee County Metropolitan Sewer District GO |
||||||||
Series A, 4.00%, 10/01/22 |
110 | 113,828 | ||||||
Series A, 5.00%, 10/01/22 |
105 | 109,612 | ||||||
Series A, 5.25%, 10/01/22 |
105 | 109,852 | ||||||
State of Wisconsin Clean Water Fund Leveraged Loan Portfolio RB |
||||||||
Series 1, 4.00%, 06/01/22 (ETM) |
75 | 76,652 | ||||||
Series 1, 5.00%, 06/01/22 (ETM) |
125 | 128,477 | ||||||
State of Wisconsin Environmental Improvement Fund Revenue RB, Serise A, 5.00%, 06/01/22 |
250 | 257,041 | ||||||
State of Wisconsin GO |
||||||||
5.00%, 11/01/22 |
205 | 214,880 | ||||||
Series 1, 5.00%, 05/01/22 |
150 | 153,622 | ||||||
Series 1, 5.00%, 05/01/22 (ETM) |
100 | 102,409 | ||||||
Series 2, 4.00%, 11/01/22 |
140 | 145,353 | ||||||
Series 2, 5.00%, 05/01/22 |
155 | 158,743 | ||||||
Series 2, 5.00%, 05/01/22 (ETM) |
20 | 20,482 | ||||||
Series 2, 5.00%, 11/01/22 |
955 | 1,001,025 | ||||||
Series 3, 4.00%, 11/01/22 |
125 | 129,779 | ||||||
Series 3, 5.00%, 11/01/22 |
615 | 644,639 | ||||||
Series B, 5.00%, 05/01/22 |
75 | 76,811 |
Security | Par/ Shares (000) |
Value | ||||||
Wisconsin (continued) |
||||||||
Series D, 5.00%, 05/01/22 |
$ | 130 | $ | 133,139 | ||||
State of Wisconsin RB, Series A, 5.00%, 05/01/22 |
600 | 614,519 | ||||||
Wisconsin Department of Transportation RB |
||||||||
Series 1, 5.00%, 07/01/22 |
465 | 479,997 | ||||||
Series 1, 5.00%, 07/01/27 (PR 07/01/22) |
2,790 | 2,879,216 | ||||||
Series 1, 5.00%, 07/01/28 (PR 07/01/22) |
2,000 | 2,063,954 | ||||||
Series 2, 5.00%, 07/01/22 |
805 | 830,961 | ||||||
Series 2, 5.00%, 07/01/23 (PR 07/01/22) |
225 | 232,195 | ||||||
Wisconsin Health & Educational Facilities Authority RB |
||||||||
5.00%, 08/15/22 |
165 | 171,120 | ||||||
Series C, 5.00%, 08/15/22 (ETM) |
40 | 41,507 | ||||||
Series E, 4.00%, 11/15/22 |
125 | 129,921 | ||||||
WPPI Energy RB, Series A, 5.00%, 07/01/22 |
460 | 473,862 | ||||||
|
|
|||||||
12,119,360 | ||||||||
|
|
|||||||
Total
Municipal Debt Obligations — 98.6% |
373,700,235 | |||||||
|
|
|||||||
Short-Term Investments | ||||||||
Money Market Funds — 0.1% |
||||||||
BlackRock Liquidity Funds: MuniCash, 0.01%(c)(d) |
346 | 346,035 | ||||||
|
|
|||||||
Total
Short-Term Investments — 0.1% |
346,035 | |||||||
|
|
|||||||
Total
Investments in Securities — 98.7% |
374,046,270 | |||||||
Other Assets, Less Liabilities — 1.3% |
5,060,461 | |||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 379,106,731 | ||||||
|
|
(a) |
Zero-coupon bond. |
(b) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
(c) |
Affiliate of the Fund. |
(d) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 136,680 | $ | 209,376 | (a) | $ | — | $ | (14 | ) | $ | (7 | ) | $ | 346,035 | 346 | $ | 55 | $ | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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.
SCHEDULE OF INVESTMENTS |
43 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF |
Fair Value Hierarchy as of Period End (continued)
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 373,700,235 | $ | — | $ | 373,700,235 | ||||||||
Money Market Funds |
346,035 | — | — | 346,035 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 346,035 | $ | 373,700,235 | $ | — | $ | 374,046,270 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
44 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations |
||||||||
Alabama — 1.2% | ||||||||
Alabama
Federal Aid Highway Finance Authority RB |
$ | 300 | $ | 325,706 | ||||
Series A, 5.00%, 09/01/23 |
325 | 353,161 | ||||||
Series B, 5.00%, 09/01/23 |
310 | 336,861 | ||||||
Alabama Public School & College Authority RB |
||||||||
Series C, 5.00%, 06/01/23 |
100 | 107,531 | ||||||
Series A, 3.00%, 06/01/23 |
85 | 88,721 | ||||||
Series A, 5.00%, 02/01/23 |
505 | 535,181 | ||||||
Alabama Public School and College Authority RB |
||||||||
Series A, 5.00%, 11/01/23 |
170 | 186,060 | ||||||
Series B, 5.00%, 01/01/23 |
290 | 306,196 | ||||||
City of Huntsville AL GOL |
||||||||
Series C, 5.00%, 05/01/23 |
130 | 139,267 | ||||||
Series D, 5.00%, 05/01/23 |
115 | 123,198 | ||||||
State of Alabama GO |
||||||||
Series A, 5.00%, 08/01/23 |
200 | 216,602 | ||||||
Series A, 5.00%, 11/01/23 |
400 | 437,620 | ||||||
Series C, 5.00%, 08/01/23 |
155 | 167,866 | ||||||
Series C, 5.00%, 11/01/23 |
290 | 317,275 | ||||||
University
of Alabama (The) RB, Series B, |
125 | 134,721 | ||||||
University of Alabama at Birmingham RB, Series A, 5.00%, 10/01/23 |
135 | 146,967 | ||||||
|
|
|||||||
3,922,933 | ||||||||
Alaska — 0.1% | ||||||||
Municipality of Anchorage AK GO, Series D, 5.00%, 09/01/23 |
165 | 179,329 | ||||||
State of Alaska GO, Series B, 5.00%, 08/01/23 |
75 | 81,212 | ||||||
|
|
|||||||
260,541 | ||||||||
Arizona — 2.9% | ||||||||
Arizona Department of Transportation State Highway Fund Revenue RB, 5.00%, 07/01/23 |
|
210 |
|
|
226,588 |
| ||
Arizona
Health Facilities Authority RB, Series A, |
35 | 36,934 | ||||||
Arizona
School Facilities Board COP, Series A, |
365 | 396,402 | ||||||
Arizona
State University RB |
150 | 162,451 | ||||||
Series B, 5.00%, 07/01/23 |
220 | 237,262 | ||||||
Series C, 5.00%, 07/01/23 |
295 | 318,147 | ||||||
Arizona
Transportation Board RB |
860 | 927,930 | ||||||
Series A, 5.00%, 07/01/23 |
100 | 107,899 | ||||||
Arizona
Water Infrastructure Finance Authority RB, |
170 | 185,344 | ||||||
City
of Mesa AZ Utility System Revenue RB, |
35 | 37,777 | ||||||
City
of Phoenix AZ GO |
685 | 727,503 | ||||||
5.00%, 07/01/23 |
120 | 129,437 | ||||||
City
of Phoenix Civic Improvement Corp. RB |
735 | 793,186 | ||||||
5.50%, 07/01/23 (NPFGC) |
85 | 92,434 | ||||||
Series A, 5.00%, 07/01/23 |
490 | 528,733 | ||||||
Series B, 5.00%, 07/01/23 |
610 | 658,278 | ||||||
Series D, 5.00%, 07/01/23 |
375 | 404,359 | ||||||
SeriesB, 5.00%, 07/01/23 |
140 | 151,083 | ||||||
City of Scottsdale AZ GO, 5.00%, 07/01/23 |
120 | 129,521 | ||||||
City
of Tucson AZ Water System Revenue RB, |
180 | 194,250 | ||||||
County of Pima AZ GOL, 4.00%, 07/01/23 |
310 | 329,289 |
Security | Par (000) |
Value | ||||||
Arizona (continued) | ||||||||
County
of Pima AZ Sewer System Revenue RB, |
$ | 435 | $ | 469,284 | ||||
Maricopa
County Community College District GO, |
200 | 215,310 | ||||||
Maricopa County Unified School District No. 48 Scottsdale GO, 5.00%, 07/01/23 |
75 | 80,924 | ||||||
Maricopa County Unified School District No. 80 Chandler GOL, 4.50%, 07/01/23 |
40 | 42,835 | ||||||
Maricopa
County Union High School District No. 210-Phoenix GO |
280 | 302,117 | ||||||
Series B, 5.00%, 07/01/23 |
175 | 188,823 | ||||||
Regional
Public Transportation Authority RB, |
135 | 146,200 | ||||||
Salt
River Project Agricultural Improvement & Power District
RB |
|
365 |
|
|
385,341 |
| ||
Series A, 5.00%, 01/01/23 |
610 | 643,994 | ||||||
State of Arizona COP, 5.00%, 09/01/23 |
260 | 282,378 | ||||||
University
of Arizona (The) RB |
215 | 231,156 | ||||||
5.00%, 08/01/23 |
55 | 59,565 | ||||||
|
|
|||||||
9,822,734 | ||||||||
Arkansas — 0.3% | ||||||||
State
of Arkansas GO |
35 | 37,222 | ||||||
5.00%, 04/01/23 |
315 | 336,281 | ||||||
5.00%, 10/01/23 |
535 | 583,505 | ||||||
University of Arkansas RB, Series A, 5.00%, 11/01/23 |
105 | 114,699 | ||||||
|
|
|||||||
1,071,707 | ||||||||
California — 10.4% | ||||||||
Alameda
Unified School District-Alameda County/CA GO, Series A, |
|
50 |
|
|
49,629 |
| ||
Anaheim Housing & Public Improvements Authority RB, Series A, 5.00%, 10/01/23 |
|
175 |
|
|
190,513 |
| ||
Bay
Area Toll Authority RB |
100 | 106,682 | ||||||
Series S-4, 5.00%, 04/01/43 (PR 04/01/24) |
100 | 106,785 | ||||||
Series S-4, 5.25%, 04/01/53 (PR 04/01/24) |
135 | 144,635 | ||||||
Benicia Unified School District GO, Series B, 0.00%, 08/01/23 (NPFGC)(a) |
|
80 |
|
|
79,393 |
| ||
California Educational Facilities Authority RB, Series T-5, 5.00%, 03/15/23 |
590 | 628,720 | ||||||
California
Health Facilities Financing Authority RB |
25 | 27,432 | ||||||
Series A, 4.00%, 03/01/23 |
70 | 73,479 | ||||||
Series A, 5.00%, 11/15/23 |
15 | 16,457 | ||||||
Series B, 5.00%, 11/15/23 |
110 | 120,442 | ||||||
California Infrastructure & Economic Development Bank RB, Series A, 5.00%, 10/01/23 |
|
185 |
|
|
201,930 |
| ||
California
State Public Works Board RB |
200 | 217,214 | ||||||
Series A, 5.00%, 03/01/23 |
170 | 180,729 | ||||||
Series A, 5.00%, 09/01/23 |
175 | 190,062 | ||||||
Series A, 5.25%, 06/01/23 (ETM NPFGC) |
15 | 16,194 | ||||||
Series B, 5.00%, 10/01/23 |
665 | 725,023 | ||||||
Series C, 5.00%, 11/01/23 |
65 | 71,059 | ||||||
Series D, 5.00%, 09/01/23 |
540 | 586,478 | ||||||
Series F, 5.00%, 05/01/23 |
135 | 144,476 | ||||||
Series F, 5.00%, 09/01/23 |
255 | 276,948 |
SCHEDULE OF INVESTMENTS |
45 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Series G, 5.00%, 09/01/23 |
$ | 20 | $ | 21,721 | ||||
Series H, 5.00%, 06/01/23 |
180 | 193,436 | ||||||
Series H, 5.00%, 12/01/23 |
125 | 137,113 | ||||||
Series I, 5.00%, 11/01/23 |
545 | 595,799 | ||||||
California
State University RB Series A, |
855 | 935,741 | ||||||
Series C, 5.00%, 11/01/23 (AGM) |
120 | 131,337 | ||||||
Chabot-Las Positas Community College District GO, 4.00%, 08/01/23 |
160 | 170,581 | ||||||
City of Los Angeles CA Wastewater System Revenue RB, Series B, 4.00%, 06/01/23 |
100 | 105,921 | ||||||
City
of San Francisco CA Public Utilities Commission Water Revenue
RB |
645 | 705,528 | ||||||
Series B, 5.00%, 11/01/23 |
100 | 109,384 | ||||||
Coast Community College District GO, Series A, 5.00%, 08/01/23 |
100 | 108,338 | ||||||
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/23 |
320 | 340,196 | ||||||
Contra Costa Water District RB, Series T, 5.00%, 10/01/23 |
120 | 130,855 | ||||||
East Bay Municipal Utility District Water System Revenue RB, Series B, 5.00%, 06/01/23 |
185 | 198,902 | ||||||
Eastern Municipal Water District RB, Series A, 5.00%, 07/01/23 |
50 | 53,958 | ||||||
Escondido Union High School District GO, Series A, 0.00%, 08/01/23 (AGC)(a) |
150 | 149,044 | ||||||
Folsom Cordova Unified School District School Facilities Improvement Dist No. 4 GO, Series A, 0.00%, 10/01/23 (NPFGC)(a) |
195 | 193,003 | ||||||
Foothill-De Anza Community College District GO, 5.00%, 08/01/23 |
140 | 151,570 | ||||||
Huntington Beach Union High School District GO, 5.00%, 08/01/23 |
135 | 146,082 | ||||||
Irvine Ranch Water District SA, 5.00%, 02/01/23 |
30 | 31,793 | ||||||
Laguna Beach Unified School District GO, 4.00%, 08/01/23 |
155 | 165,222 | ||||||
Las Virgenes Unified School District GO |
||||||||
Series C, 0.00%, 11/01/23 (NPFGC)(a) |
50 | 49,637 | ||||||
Series D, 0.00%, 09/01/23 (NPFGC)(a) |
105 | 104,344 | ||||||
Long Beach Community College District GO, Series D, 0.00%, 05/01/23 (NPFGC)(a) |
165 | 163,849 | ||||||
Los Angeles Community College District/CA GO |
||||||||
Series A, 5.00%, 08/01/23 |
395 | 427,861 | ||||||
Series C, 5.00%, 08/01/23 |
375 | 406,197 | ||||||
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
Series A, 5.00%, 06/01/23 |
585 | 629,153 | ||||||
Series A, 5.00%, 07/01/23 |
600 | 647,603 | ||||||
Series C, 5.00%, 07/01/23 |
185 | 199,678 | ||||||
Los Angeles County Sanitation Districts Financing Authority RB, 5.00%, 10/01/23 |
110 | 120,040 | ||||||
Los
Angeles Department of Water & Power System Revenue RB |
250 | 269,835 | ||||||
Series A, 5.00%, 07/01/23 |
445 | 480,306 | ||||||
Series B, 4.00%, 07/01/23 |
150 | 159,411 | ||||||
Series B, 5.00%, 07/01/23 |
165 | 178,091 | ||||||
Series D, 4.00%, 07/01/23 |
205 | 217,862 | ||||||
Series E, 5.00%, 07/01/23 |
165 | 178,091 | ||||||
Los Angeles Unified School District/CA GO Series A, 4.00%, 07/01/23 |
495 | 525,800 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Series A, 5.00%, 07/01/23 |
$ | 1,975 | $ | 2,130,658 | ||||
Series C, 5.00%, 07/01/23 |
185 | 199,581 | ||||||
Metropolitan Water District of Southern California RB |
||||||||
Series A, 5.00%, 07/01/23 |
150 | 161,953 | ||||||
Series B, 5.00%, 09/01/23 |
75 | 81,484 | ||||||
Modesto Irrigation District RB, 5.00%, 10/01/23 |
220 | 239,902 | ||||||
Mount Diablo Unified School District/CA GO, Series F, 5.00%, 08/01/23 |
20 | 21,660 | ||||||
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/23 |
400 | 437,789 | ||||||
Newport Mesa Unified School District GO, Series 2007, 0.00%, 08/01/23 (NPFGC)(a) |
50 | 49,742 | ||||||
Orange County Water District RB, 5.00%, 08/15/23 |
45 | 48,824 | ||||||
Palomar
Community College District GO, Series B, |
200 | 198,691 | ||||||
Rancho
Santiago Community College District GO, |
45 | 48,086 | ||||||
Riverside County Transportation Commission RB, Series A, 5.00%, 06/01/23 |
940 | 1,010,790 | ||||||
San
Diego Community College District GO, |
35 | 34,844 | ||||||
San Diego County Regional Transportation Commission RB, Series A, 5.00%, 04/01/23 |
75 | 80,078 | ||||||
San Diego County Water Authority RB, 5.00%, 05/01/23 |
100 | 107,175 | ||||||
San
Diego Public Facilities Financing Authority RB, |
65 | 71,009 | ||||||
San Diego Unified School District/CA GO |
||||||||
Series A, 0.00%, 07/01/23 (NPFGC)(a) |
150 | 149,179 | ||||||
Series H-2, 3.00%, 07/01/23 |
200 | 209,160 | ||||||
Series H-2, 5.00%, 07/01/23 |
350 | 377,646 | ||||||
Series J-2, 5.00%, 07/01/23 |
135 | 145,664 | ||||||
San Diego Unified School District/CA RB, 5.00%, 07/01/23 |
225 | 242,773 | ||||||
San Francisco City & County Airport Commission San Francisco International Airport RB, Series D, 5.00%, 05/01/23 |
135 | 144,581 | ||||||
San
Jose Evergreen Community College District GO |
180 | 195,631 | ||||||
Series A, 5.00%, 09/01/23 |
195 | 211,934 | ||||||
San Jose Financing Authority RB, Series A, 5.00%, 06/01/23 |
25 | 26,870 | ||||||
San Mateo County Community College District GO, Series A, 0.00%, 09/01/23 (NPFGC)(a) |
160 | 158,972 | ||||||
San Mateo Joint Powers Financing Authority RB, Series A, 5.00%, 07/15/23 |
100 | 108,096 | ||||||
San Mateo Union High School District GO |
||||||||
Series A, 4.00%, 09/01/23 |
125 | 133,550 | ||||||
Series A, 5.00%, 09/01/23 |
125 | 135,831 | ||||||
Series B, 0.00%, 09/01/23 (NPFGC)(a) |
130 | 129,212 | ||||||
Santa Clara County Financing Authority RB, Series Q, 5.00%, 05/15/23 |
105 | 112,691 | ||||||
Santa Clara Unified School District GO, 5.00%, 07/01/23 |
75 | 80,911 | ||||||
Santa
Monica Community College District GO, Series A, |
290 | 314,179 | ||||||
Santa
Monica-Malibu Unified School District GO |
100 | 99,449 | ||||||
Series B, 4.00%, 08/01/23 |
200 | 213,153 | ||||||
Southern California Public Power Authority RB, Series A, 5.00%, 07/01/23 |
305 | 328,879 | ||||||
State
of California Department of Water Resources RB |
125 | 137,388 | ||||||
Series AW, 5.00%, 12/01/23 |
115 | 126,397 | ||||||
Series AX, 5.00%, 12/01/23 |
415 | 456,130 |
46 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Series BA, 5.00%, 12/01/23 |
$ | 235 | $ | 258,290 | ||||
State
of California GO |
75 | 78,748 | ||||||
4.00%, 05/01/23 |
230 | 242,960 | ||||||
4.00%, 10/01/23 |
315 | 337,360 | ||||||
5.00%, 02/01/23 |
100 | 105,937 | ||||||
5.00%, 08/01/23 |
2,015 | 2,181,152 | ||||||
5.00%, 09/01/23 |
920 | 999,363 | ||||||
5.00%, 10/01/23 |
930 | 1,013,755 | ||||||
5.00%, 11/01/23 |
1,595 | 1,744,675 | ||||||
5.00%, 12/01/23 |
370 | 406,181 | ||||||
Series B, 5.00%, 08/01/23 |
595 | 644,062 | ||||||
Series B, 5.00%, 09/01/23 |
550 | 597,445 | ||||||
Torrance
Unified School District GO, |
230 | 249,176 | ||||||
University of California RB |
||||||||
Series AF, 5.00%, 05/15/23 |
335 | 359,591 | ||||||
Series AK, VRDN,5.00%, 05/15/48 |
2,125 | 2,279,282 | ||||||
Series AO, 5.00%, 05/15/23 |
495 | 531,336 | ||||||
Series AR, 4.00%, 05/15/23 |
210 | 222,197 | ||||||
|
|
|||||||
35,099,614 | ||||||||
Colorado — 0.7% | ||||||||
Adams
County School District No. 1 GO, |
250 | 269,101 | ||||||
Board of Water Commissioners City & County of Denver (The) RB, Series B, 5.00%, 09/15/23 |
130 | 141,521 | ||||||
City & County of Denver Co. Airport System Revenue RB |
||||||||
Series A, 5.00%, 11/15/23 |
355 | 388,396 | ||||||
Series B, 5.00%, 11/15/23 |
200 | 218,814 | ||||||
City of Colorado Springs Co. Utilities System Revenue RB, Series C, 5.00%, 11/15/23 |
100 | 109,536 | ||||||
Denver City & County School District No. 1 GO, 5.00%, 12/01/23 (SAW) |
240 | 263,310 | ||||||
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/23 (NPFGC)(a) |
120 | 118,990 | ||||||
Metro Wastewater Reclamation District RB, Series A, 5.00%, 04/01/23 |
500 | 533,780 | ||||||
University of Colorado RB, Series A-2, 5.00%, 06/01/23 |
240 | 257,955 | ||||||
|
|
|||||||
2,301,403 | ||||||||
Connecticut — 1.9% | ||||||||
City of Stamford CT GO, 5.00%, 06/01/23 |
100 | 107,498 | ||||||
Connecticut State Health & Educational Facilities Authority RB |
||||||||
Series 2014-A, VRDN,1.10%, 07/01/48(b) |
500 | 505,161 | ||||||
Series C-2, VRDN,5.00%, 07/01/57 (Put 02/01/23)(b) |
1,030 | 1,091,155 | ||||||
State of Connecticut Clean Water Fund - State Revolving Fund RB, Series B, 5.00%, 06/01/23 |
125 | 134,414 | ||||||
State of Connecticut GO |
||||||||
Series A, 5.00%, 03/15/23 |
275 | 292,929 | ||||||
Series A, 5.00%, 04/15/23 |
520 | 555,914 | ||||||
Series A, 5.00%, 10/15/23 |
505 | 551,059 | ||||||
Series B, 3.00%, 06/01/23 |
150 | 156,517 | ||||||
Series B, 5.00%, 04/15/23 |
200 | 213,813 | ||||||
Series B, 5.00%, 05/15/23 |
335 | 359,430 | ||||||
Series D, 5.00%, 06/15/23 |
120 | 129,212 | ||||||
Series E, 5.00%, 09/01/23 |
130 | 141,139 | ||||||
Series F, 5.00%, 09/15/23 |
175 | 190,302 | ||||||
Series F, 5.00%, 11/15/23 |
200 | 218,986 | ||||||
Series H, 5.00%, 11/15/23 |
120 | 131,392 |
Security | Par (000) |
Value | ||||||
Connecticut (continued) | ||||||||
State of Connecticut Special Tax Revenue RB |
||||||||
Series A, 5.00%, 01/01/23 |
$ | 145 | $ | 153,063 | ||||
Series A, 5.00%, 08/01/23 |
275 | 297,575 | ||||||
Series A, 5.00%, 09/01/23 |
190 | 206,280 | ||||||
Series A, 5.00%, 10/01/23 |
455 | 495,702 | ||||||
Series B, 5.00%, 08/01/23 |
105 | 113,619 | ||||||
University of Connecticut RB |
||||||||
Series A, 4.00%, 02/15/23 |
50 | 52,437 | ||||||
Series A, 5.00%, 02/15/23 |
100 | 106,158 | ||||||
Series A, 5.00%, 04/15/23 |
100 | 106,937 | ||||||
|
|
|||||||
6,310,692 | ||||||||
Delaware — 1.0% | ||||||||
City of Wilmington DE GO, 3.00%, 06/01/23 |
160 | 166,952 | ||||||
County
of New Castle DE GO |
120 | 128,160 | ||||||
5.00%, 10/01/23 |
165 | 180,060 | ||||||
Delaware River & Bay Authority RB, Series B, 5.00%, 01/01/23 |
40 | 42,195 | ||||||
Delaware Transportation Authority RB, 5.00%, 07/01/23 |
1,205 | 1,300,182 | ||||||
State
of Delaware GO |
405 | 429,204 | ||||||
Series C, 5.00%, 03/01/23 |
640 | 680,747 | ||||||
Series A, 5.00%, 02/01/23 |
90 | 95,379 | ||||||
Series B, 5.00%, 07/01/23 |
165 | 178,120 | ||||||
Series C, 5.00%, 03/01/23 |
140 | 148,913 | ||||||
Series D, 5.00%, 07/01/23 |
125 | 134,939 | ||||||
|
|
|||||||
3,484,851 | ||||||||
District of Columbia — 0.8% | ||||||||
District of Columbia GO |
||||||||
Series A, 5.00%, 06/01/23 |
975 | 1,048,264 | ||||||
Series B, 5.00%, 06/01/23 |
350 | 376,300 | ||||||
District
of Columbia RB |
20 | 21,583 | ||||||
Series A, 5.00%, 12/01/23 |
360 | 395,362 | ||||||
District of Columbia Water & Sewer Authority RB |
||||||||
Series A, 5.00%, 10/01/23 |
150 | 163,569 | ||||||
Series B, 5.00%, 10/01/23 |
215 | 234,493 | ||||||
Series C, 5.00%, 10/01/23 |
130 | 141,760 | ||||||
Washington Metropolitan Area Transit Authority RB |
||||||||
Series A-1, 5.00%, 07/01/23 |
170 | 183,428 | ||||||
Series B, 5.00%, 07/01/23 |
220 | 237,378 | ||||||
|
|
|||||||
2,802,137 | ||||||||
Florida — 3.9% | ||||||||
City
of Jacksonville FL RB |
110 | 119,818 | ||||||
Series C, 5.00%, 10/01/23 |
100 | 108,966 | ||||||
City of Orlando FL RB, Series B, 5.00%, 10/01/23 |
135 | 147,103 | ||||||
City of Tallahassee FL Utility System Revenue RB, 5.00%, 10/01/23 |
35 | 38,131 | ||||||
City of Tampa FL Sales Tax Revenue RB, 5.00%, 10/01/23 |
100 | 108,945 | ||||||
County of Broward FL Airport System Revenue RB, Series C, 5.00%, 10/01/23 |
110 | 119,796 | ||||||
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/23 |
185 | 201,549 | ||||||
County
of Miami-Dade FL GO |
25 | 26,975 | ||||||
Series 2015-D, 5.00%, 07/01/23 |
155 | 167,243 | ||||||
Series A, 5.00%, 07/01/23 |
390 | 420,806 |
SCHEDULE OF INVESTMENTS |
47 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Florida (continued) | ||||||||
County of Miami-Dade FL Transit System RB, 5.00%, 07/01/23 |
$ | 460 | $ | 494,732 | ||||
County
of Miami-Dade FL Water & Sewer System Revenue RB |
725 | 789,562 | ||||||
Series B, 5.00%, 10/01/23 |
90 | 98,015 | ||||||
County of Orange FL Sales Tax Revenue RB, Series C, 5.00%, 01/01/23 |
130 | 137,260 | ||||||
County of Orange FL Water Utility System Revenue RB, 5.00%, 10/01/23 |
110 | 119,973 | ||||||
County of Seminole FL Water & Sewer Revenue RB, Series A, 5.00%, 10/01/23 |
180 | 196,247 | ||||||
Florida
Department of Environmental Protection RB |
475 | 512,271 | ||||||
Series A, 5.00%, 07/01/23 |
665 | 717,179 | ||||||
Florida Department of Management Services COP, Series A, 5.00%, 08/01/23 |
210 | 227,355 | ||||||
Florida Municipal Power Agency RB, Series A, 5.00%, 10/01/23 |
65 | 70,762 | ||||||
Florida’s Turnpike Enterprise RB |
||||||||
Series A, 5.00%, 07/01/23 |
700 | 755,292 | ||||||
Series B, 5.00%, 07/01/23 |
490 | 528,704 | ||||||
Series C, 5.00%, 07/01/23 |
25 | 26,975 | ||||||
Hillsborough
County School Board COP |
100 | 107,690 | ||||||
Series A, 5.00%, 07/01/23 |
60 | 64,614 | ||||||
Jacksonville Transportation Authority RB, 5.00%, 08/01/23 |
170 | 183,613 | ||||||
Miami-Dade County Expressway Authority RB, Series A, 4.00%, 07/01/23 |
85 | 90,069 | ||||||
Orange County School Board COP |
||||||||
Series A, 5.00%, 08/01/23 |
90 | 97,306 | ||||||
Series D, 5.00%, 08/01/23 |
50 | 54,059 | ||||||
Orlando Utilities Commission RB, Series A, 5.00%, 10/01/23 |
270 | 294,480 | ||||||
Orlando-Orange County Convention Center RB, 5.00%, 10/01/23 |
270 | 293,392 | ||||||
Orlando-Orange County Expressway Authority RB, Series B, 5.00%, 07/01/23 |
150 | 161,482 | ||||||
Palm Beach County School District COP |
||||||||
Series A, 5.00%, 08/01/23 |
50 | 54,068 | ||||||
Series B, 5.00%, 08/01/23 |
150 | 162,231 | ||||||
Pasco County School Board COP, Series A, 5.00%, 08/01/23 |
20 | 21,579 | ||||||
Reedy
Creek Improvement District GOL |
125 | 134,310 | ||||||
Series A, 5.00%, 06/01/23 |
255 | 273,993 | ||||||
School Board of Miami-Dade County (The) COP, Series D, 5.00%, 02/01/23 |
150 | 158,945 | ||||||
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/23 |
260 | 276,654 | ||||||
School District of Broward County/FL COP |
||||||||
Series A, 5.00%, 07/01/23 |
270 | 291,044 | ||||||
Series B, 5.00%, 07/01/23 |
170 | 183,250 | ||||||
Seminole County School Board COP, Series C, 5.00%, 07/01/23 |
20 | 21,538 | ||||||
State of Florida Department of Transportation Turnpike System Revenue RB, Series B, 5.00%, 07/01/23 |
140 | 151,058 | ||||||
State of Florida GO |
||||||||
Series A, 5.00%, 06/01/23 |
695 | 746,994 | ||||||
Series A, 5.00%, 07/01/23 |
950 | 1,024,874 | ||||||
Series B, 5.00%, 06/01/23 |
595 | 639,513 | ||||||
Series C, 5.00%, 06/01/23 |
355 | 381,558 | ||||||
Series E, 5.00%, 06/01/23 |
210 | 225,710 |
Security | Par (000) |
Value | ||||||
Florida (continued) | ||||||||
State of Florida Lottery Revenue RB |
||||||||
Series A, 5.00%, 07/01/23 |
$ | 235 | $ | 253,521 | ||||
Series B, 5.00%, 07/01/23 |
610 | 658,077 | ||||||
Volusia County School Board COP, Series A, 5.00%, 08/01/23 (BAM) |
110 | 119,111 | ||||||
|
|
|||||||
13,258,392 | ||||||||
Georgia — 1.4% | ||||||||
City
of Atlanta GA Water & Wastewater Revenue RB |
160 | 175,082 | ||||||
Series A, 5.00%, 11/01/23 |
75 | 82,069 | ||||||
City of Gainesville GA Water & Sewerage Revenue RB, 5.00%, 11/15/23 |
60 | 65,722 | ||||||
County of Forsyth GA GO, Series B, 5.00%, 03/01/23 |
190 | 202,123 | ||||||
Forsyth County School District GO, 5.00%, 02/01/23 |
130 | 137,803 | ||||||
Georgia State Road & Tollway Authority RB, Series A, 5.00%, 06/01/23 |
150 | 161,222 | ||||||
Gwinnett County Development Authority COP, 5.25%, 01/01/23 (NPFGC) |
115 | 121,757 | ||||||
Gwinnett
County Water & Sewerage Authority RB, |
500 | 541,504 | ||||||
State of Georgia GO |
||||||||
Series A, 5.00%, 07/01/23 |
785 | 847,281 | ||||||
Series A-1, 5.00%, 02/01/23 |
450 | 476,952 | ||||||
Series C, 5.00%, 07/01/23 |
75 | 80,950 | ||||||
Series C-1, 5.00%, 07/01/23 |
150 | 161,901 | ||||||
Series D, 5.00%, 02/01/23 |
355 | 376,262 | ||||||
Series E, 5.00%, 12/01/23 |
140 | 153,752 | ||||||
Series F, 5.00%, 01/01/23 |
1,000 | 1,055,970 | ||||||
|
|
|||||||
4,640,350 | ||||||||
Hawaii — 1.6% | ||||||||
City & County Honolulu HI Wastewater System Revenue RB, Series B, 5.00%, 07/01/23 |
555 | 598,742 | ||||||
City & County of Honolulu HI GO |
||||||||
Series A, 5.00%, 09/01/23 |
120 | 130,467 | ||||||
Series A, 5.00%, 10/01/23 |
200 | 218,012 | ||||||
Series B, 4.00%, 10/01/23 |
100 | 107,098 | ||||||
Series B, 5.00%, 09/01/23 |
360 | 391,402 | ||||||
Series B, 5.00%, 10/01/23 |
100 | 109,006 | ||||||
Series C, 5.00%, 10/01/23 |
145 | 158,058 | ||||||
Series E, 4.00%, 09/01/23 |
145 | 155,001 | ||||||
County of Hawaii HI GO, Series D, 5.00%, 09/01/23 |
75 | 81,441 | ||||||
State of Hawaii GO |
||||||||
Series EH, 5.00%, 08/01/30 (PR 08/01/23) |
325 | 351,620 | ||||||
Series EH-2017, 5.00%, 08/01/23 (ETM) |
520 | 562,591 | ||||||
Series EO, 5.00%, 08/01/23 (ETM) |
50 | 54,095 | ||||||
Series EP, 5.00%, 08/01/23 |
320 | 346,563 | ||||||
Series EY, 5.00%, 10/01/23 |
385 | 419,906 | ||||||
Series EZ, 5.00%, 10/01/23 |
50 | 54,533 | ||||||
Series FE, 5.00%, 10/01/23 |
300 | 327,199 | ||||||
Series FG, 4.00%, 10/01/23 |
135 | 144,664 | ||||||
Series FG, 5.00%, 10/01/23 |
70 | 76,346 | ||||||
Series FH, 5.00%, 10/01/23 |
50 | 54,533 | ||||||
Series FK, 4.00%, 05/01/23 |
75 | 79,238 | ||||||
Series FK, 5.00%, 05/01/23 |
215 | 230,360 | ||||||
Series FN, 5.00%, 10/01/23 |
130 | 141,786 | ||||||
State of Hawaii State Highway Fund RB |
||||||||
Series A, 5.00%, 01/01/23 |
100 | 105,585 | ||||||
Series B, 4.00%, 01/01/23 |
165 | 172,298 |
48 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Hawaii (continued) |
||||||||
Series B, 5.00%, 01/01/23 |
$ | 280 | $ | 295,638 | ||||
|
|
|||||||
5,366,182 | ||||||||
Idaho — 0.0% |
||||||||
Idaho Housing & Finance Association RB, 5.00%, 07/15/23 |
110 | 118,709 | ||||||
|
|
|||||||
Illinois — 2.1% |
||||||||
Chicago O’Hare International Airport RB |
||||||||
4.13%, 01/01/23 |
50 | 52,045 | ||||||
Series C, 5.00%, 01/01/23 |
100 | 105,512 | ||||||
Series B, 5.00%, 01/01/23 |
500 | 527,562 | ||||||
Series D, 5.00%, 01/01/23 |
90 | 94,961 | ||||||
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/23 |
200 | 214,236 | ||||||
Illinois Finance Authority RB |
||||||||
5.00%, 01/01/23 |
335 | 353,750 | ||||||
5.00%, 07/01/23 |
700 | 755,537 | ||||||
5.00%, 12/01/23 |
275 | 301,710 | ||||||
Series A, 5.00%, 10/01/23 |
135 | 147,103 | ||||||
State of Illinois GO |
||||||||
5.00%, 02/01/23 |
120 | 126,851 | ||||||
5.00%, 05/01/23 |
625 | 667,248 | ||||||
5.00%, 06/01/23 |
165 | 176,727 | ||||||
5.00%, 07/01/23 |
235 | 252,513 | ||||||
5.00%, 08/01/23 |
380 | 409,619 | ||||||
5.38%, 05/01/23 |
145 | 155,612 | ||||||
Series A, 5.00%, 04/01/23 |
230 | 244,739 | ||||||
Series A, 5.00%, 10/01/23 |
200 | 216,940 | ||||||
Series B, 5.00%, 03/01/23 |
250 | 265,134 | ||||||
Series B, 5.00%, 10/01/23 |
460 | 498,961 | ||||||
Series B, 5.00%, 12/01/23 |
50 | 54,564 | ||||||
Series D, 5.00%, 11/01/23 |
890 | 968,342 | ||||||
State of Illinois RB |
||||||||
5.00%, 06/15/23 |
325 | 348,427 | ||||||
First Series, 6.00%, 06/15/23 (NPFGC) |
90 | 98,049 | ||||||
Series C, 4.00%, 06/15/23 |
25 | 26,404 | ||||||
|
|
|||||||
7,062,546 | ||||||||
Indiana — 0.8% |
||||||||
Ball State University, Series R, 5.00%, 07/01/23 |
100 | 107,899 | ||||||
Indiana Finance Authority RB |
||||||||
Series A, 5.00%, 02/01/23 |
60 | 63,586 | ||||||
Series A, 5.00%, 06/01/23 |
120 | 129,037 | ||||||
Series A, 5.00%, 12/01/23 |
35 | 38,392 | ||||||
Series B, 5.00%, 02/01/23 |
55 | 58,287 | ||||||
Series C, 5.00%, 12/01/23 |
1,120 | 1,230,261 | ||||||
Indiana Municipal Power Agency RB, Series A, 5.00%, 01/01/23 |
130 | 137,213 | ||||||
Indiana University RB |
||||||||
Series A, 5.00%, 06/01/23 |
70 | 75,237 | ||||||
Series X, 5.00%, 08/01/23 |
185 | 200,254 | ||||||
Purdue University COP |
||||||||
5.25%, 07/01/23 |
145 | 157,055 | ||||||
Series A, 5.00%, 07/01/23 |
195 | 210,403 | ||||||
Purdue University RB |
||||||||
Series A, 4.00%, 07/01/23 |
85 | 90,303 | ||||||
Series BB-1, 5.00%, 07/01/23 |
75 | 80,924 | ||||||
|
|
|||||||
2,578,851 | ||||||||
Iowa — 0.4% |
||||||||
County of Polk IA GO, Series C, 5.00%, 06/01/23 |
220 | 236,568 | ||||||
Iowa City Community School District RB, 5.00%, 06/01/23 |
55 | 58,996 |
Security | Par (000) |
Value | ||||||
Iowa (continued) |
||||||||
Iowa Finance Authority RB, 5.00%, 08/01/23 |
$ | 255 | $ | 276,308 | ||||
State
of Iowa RB |
145 | 156,057 | ||||||
Series A, 5.00%, 06/01/23 |
390 | 418,983 | ||||||
|
|
|||||||
1,146,912 | ||||||||
Kansas — 0.4% |
| |||||||
City of Wichita KS GO, Series 811, 5.00%, 06/01/23 |
135 | 145,122 | ||||||
Johnson County Water District No. 1 RB, Series A, 5.00%, 01/01/23 |
210 | 221,703 | ||||||
Kansas Development Finance Authority RB, Series B, 5.00%, 05/01/23 |
135 | 144,518 | ||||||
Sedgwick County Unified School District No. 259 Wichita GO, Series A, 4.00%, 10/01/23 |
|
70 |
|
|
74,955 |
| ||
State of Kansas Department of Transportation RB, Series A, 5.00%, 09/01/23 |
685 | 743,695 | ||||||
Wyandotte County-Kansas City Unified Government GO, Series D, 5.00%, 08/01/23 |
|
100 |
|
|
108,117 |
| ||
|
|
|||||||
1,438,110 | ||||||||
Kentucky — 0.2% |
||||||||
Kentucky Asset Liability Commission RB, 5.25%, 09/01/23 |
500 | 544,255 | ||||||
Louisville & Jefferson County Metropolitan Sewer District RB, Series C, 5.00%, 05/15/23 |
|
125 |
|
|
134,055 |
| ||
|
|
|||||||
678,310 | ||||||||
Louisiana — 0.3% |
||||||||
State of Louiliana RB, Series A, 5.00%, 06/15/23 |
25 | 26,898 | ||||||
State of Louisiana GO |
||||||||
Series A, 4.00%, 09/01/23 |
75 | 80,073 | ||||||
Series A, 5.00%, 02/01/23 |
210 | 222,550 | ||||||
Series A, 5.00%, 04/01/23 |
35 | 37,339 | ||||||
Series C, 5.00%, 07/15/23 |
150 | 162,009 | ||||||
Series C, 5.00%, 08/01/23 |
500 | 541,045 | ||||||
State of Louisiana RB, 5.00%, 09/01/23 |
60 | 65,130 | ||||||
|
|
|||||||
1,135,044 | ||||||||
Maine — 0.7% |
||||||||
City of Portland ME GOL, 4.00%, 04/01/23 |
115 | 121,130 | ||||||
Maine Municipal Bond Bank RB |
||||||||
Series A, 5.00%, 09/01/23 |
495 | 537,815 | ||||||
Series A, 5.00%, 11/01/23 |
125 | 136,783 | ||||||
Series C, 5.00%, 11/01/23 |
225 | 246,209 | ||||||
Maine Turnpike Authority RB, 5.00%, 07/01/23 |
90 | 97,078 | ||||||
State of Maine GO, Series B, 5.00%, 06/01/23 |
990 | 1,064,719 | ||||||
|
|
|||||||
2,203,734 | ||||||||
Maryland — 3.7% |
||||||||
City of Baltimore MD GO, Series A, 5.00%, 10/15/23 |
200 | 218,447 | ||||||
City of Baltimore MD RB, Series D, 5.00%, 07/01/23 |
330 | 355,894 | ||||||
County
of Anne Arundel MD GOL |
115 | 122,769 | ||||||
5.00%, 10/01/23 |
35 | 38,173 | ||||||
County
of Baltimore MD GO |
510 | 540,612 | ||||||
5.00%, 11/01/23 |
180 | 197,005 | ||||||
County
of Charles MD GO |
200 | 218,173 | ||||||
5.00%, 11/01/23 |
10 | 10,945 | ||||||
County of Frederick MD GO, Series A, 5.00%, 08/01/23 |
240 | 259,966 | ||||||
County of Harford MD GO, 5.00%, 09/15/23 |
260 | 283,042 | ||||||
County of Howard MD GO, Series A, 5.00%, 02/15/23 |
155 | 164,587 | ||||||
County of Montgomery MD GO 5.00%, 11/01/23 |
125 | 136,809 |
SCHEDULE OF INVESTMENTS |
49 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Maryland (continued) |
||||||||
Series A, 5.00%, 11/01/23 |
$ | 90 | $ | 98,503 | ||||
Series A, 5.00%, 12/01/23 |
350 | 384,379 | ||||||
Series B, 5.00%, 11/01/23 |
465 | 508,930 | ||||||
Series B, 5.00%, 12/01/23 |
620 | 680,901 | ||||||
Series C, 5.00%, 10/01/23 |
295 | 321,686 | ||||||
County of Prince George’s MD COP, 5.00%, 10/15/23 |
25 | 27,285 | ||||||
County of Prince George’s MD GO, Series A, 5.00%, 09/15/23 . |
120 | 130,635 | ||||||
County of Prince George’s MD GOL, Series A, 5.00%, 07/01/23 |
235 | 253,604 | ||||||
State
of Maryland Department of Transportation RB |
305 | 325,919 | ||||||
5.00%, 02/15/23 |
690 | 732,491 | ||||||
5.00%, 09/01/23 |
200 | 217,368 | ||||||
5.00%, 10/01/23 |
910 | 992,504 | ||||||
State of Maryland GO |
||||||||
First Series, 5.00%, 06/01/23 |
715 | 768,846 | ||||||
Second Series, 5.00%, 08/01/23 |
90 | 97,471 | ||||||
Series A, 5.00%, 03/01/23 |
275 | 292,508 | ||||||
Series A, 5.00%, 08/01/23 |
510 | 552,334 | ||||||
Series B, 4.00%, 08/01/23 |
595 | 634,022 | ||||||
Series C, 5.00%, 08/01/23 |
1,320 | 1,429,571 | ||||||
Washington
Suburban Sanitary Commission RB |
185 | 195,924 | ||||||
5.00%, 06/01/23 (GTD) |
630 | 677,131 | ||||||
5.00%, 06/15/23 (GTD) |
575 | 619,043 | ||||||
|
|
|||||||
12,487,477 | ||||||||
Massachusetts — 2.5% | ||||||||
City of Boston MA GO, Series A, 5.00%, 03/01/23 |
235 | 250,027 | ||||||
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue RB, Series A, 5.00%, 06/15/23 |
|
360 |
|
|
387,880 |
| ||
Commonwealth of Massachusetts GOL |
||||||||
Series 8, 5.00%, 07/01/23 |
175 | 188,854 | ||||||
Series A, 4.20%, 08/01/23 (AMBAC) |
100 | 106,907 | ||||||
Series A, 5.00%, 03/01/23 |
260 | 276,553 | ||||||
Series A, 5.00%, 05/01/23 |
105 | 112,501 | ||||||
Series A, 5.00%, 07/01/23 |
235 | 253,603 | ||||||
Series B, 5.00%, 01/01/23 |
100 | 105,585 | ||||||
Series B, 5.00%, 07/01/23 |
880 | 949,664 | ||||||
Series B, 5.25%, 08/01/23 |
70 | 76,116 | ||||||
Series B, 5.25%, 09/01/23 (AGM) |
225 | 245,566 | ||||||
Series C, 5.00%, 10/01/23 |
110 | 119,973 | ||||||
Series C, 5.50%, 12/01/23 (AMBAC) |
500 | 554,187 | ||||||
Series D, 5.00%, 07/01/23 |
280 | 302,166 | ||||||
Series E, 5.00%, 11/01/23 |
985 | 1,077,848 | ||||||
Series H, 5.00%, 12/01/23 |
55 | 60,390 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/23 |
350 | 376,358 | ||||||
Massachusetts Bay Transportation Authority RB |
||||||||
Series A, 5.00%, 07/01/23 |
205 | 221,157 | ||||||
Series B, 5.25%, 07/01/23 |
370 | 400,696 | ||||||
Series C, 5.50%, 07/01/23 |
75 | 81,533 | ||||||
Massachusetts Bay Transportation Authority Sales Tax Revenue RB, Series A, 5.00%, 07/01/23 |
325 | 350,615 | ||||||
Massachusetts Clean Water Trust (The) RB, 5.00%, 08/01/23 |
215 | 232,886 | ||||||
Massachusetts Department of Transportation RB, Series C, 0.00%, 01/01/23 (NPFGC)(a) |
85 | 84,524 | ||||||
Massachusetts School Building Authority RB |
||||||||
Series A, 5.00%, 05/15/23 |
425 | 456,082 | ||||||
Series A, 5.00%, 11/15/23 (ETM) |
85 | 93,168 | ||||||
Series A, 5.00%, 05/15/38 (PR 05/15/23) |
325 | 348,507 |
Security | Par (000) |
Value | ||||||
Massachusetts (continued) |
||||||||
Series C, 4.00%, 08/15/23 (ETM) |
$ | 60 | $ | 64,011 | ||||
Massachusetts State College Building Authority RB, Series A, 4.00%, 05/01/23 |
150 | 158,336 | ||||||
Massachusetts Water Resources Authority RB |
||||||||
Series A, 5.00%, 08/01/23 |
115 | 124,546 | ||||||
Series B, 5.25%, 08/01/23 (AGM) |
75 | 81,552 | ||||||
University of Massachusetts Building Authority RB, Series 2021-1, 5.00%, 11/01/23 |
125 | 136,836 | ||||||
|
|
|||||||
8,278,627 | ||||||||
Michigan — 1.1% | ||||||||
County of Macomb MI GOL, 4.00%, 05/01/23 |
100 | 105,650 | ||||||
Great Lakes Water Authority Water Supply System Revenue RB, Series A, 5.00%, 07/01/23 |
250 | 269,442 | ||||||
Michigan
Finance Authority RB |
50 | 54,672 | ||||||
Series B, 5.00%, 10/01/23 |
260 | 283,520 | ||||||
Michigan State Building Authority RB |
||||||||
Series I, 5.00%, 04/15/23 |
900 | 962,569 | ||||||
Series I, 5.00%, 10/15/23 |
210 | 229,456 | ||||||
State of Michigan GO |
||||||||
Series A, 5.00%, 05/01/23 |
55 | 58,904 | ||||||
Series A, 5.00%, 12/01/23 |
190 | 208,371 | ||||||
Series B, 5.00%, 11/01/23 |
20 | 21,860 | ||||||
State of Michigan RB, 5.00%, 03/15/23 |
500 | 531,671 | ||||||
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/23 |
70 | 76,645 | ||||||
University of Michigan RB, Series A, 5.00%, 04/01/23 |
700 | 747,395 | ||||||
Wayne County Airport Authority RB, Series G, 5.00%, 12/01/23 |
100 | 109,603 | ||||||
|
|
|||||||
3,659,758 | ||||||||
Minnesota — 1.6% | ||||||||
City of Rochester MN Electric Utility Revenue RB, Series E, 5.00%, 12/01/23 |
25 | 27,379 | ||||||
County
of Hennepin MN GO |
305 | 334,959 | ||||||
Series C, 5.00%, 12/01/23 |
160 | 175,716 | ||||||
Series A, 5.00%, 12/01/23 |
95 | 104,332 | ||||||
Series C, 5.00%, 12/01/23 |
70 | 76,876 | ||||||
Elk River Independent School District No. 728 GO, Series A, 5.00%, 02/01/23 |
85 | 90,069 | ||||||
Metropolitan Council GO |
||||||||
Series A, 5.00%, 03/01/23 |
320 | 340,374 | ||||||
Series B, 5.00%, 12/01/23 |
225 | 247,052 | ||||||
Minnesota Municipal Power Agency RB, 5.00%, 10/01/23 |
30 | 32,617 | ||||||
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/23 |
285 | 303,106 | ||||||
Southern Minnesota Municipal Power Agency RB, Series A, 5.00%, 01/01/23 |
115 | 121,062 | ||||||
State of Minnesota GO |
||||||||
Series D, 5.00%, 10/01/23 |
100 | 109,147 | ||||||
Series A, 5.00%, 08/01/23 |
495 | 536,452 | ||||||
Series B, 5.00%, 08/01/23 |
840 | 910,344 | ||||||
Series B, 5.00%, 10/01/23 |
250 | 272,868 | ||||||
Series D, 5.00%, 08/01/23 |
745 | 807,389 | ||||||
Series F, 5.00%, 10/01/23 |
175 | 191,008 | ||||||
State of Minnesota RB, Series A, 5.00%, 06/01/23 |
580 | 624,063 | ||||||
|
|
|||||||
5,304,813 | ||||||||
Mississippi — 0.1% | ||||||||
State of Mississippi GO, Series F, 5.25%, 10/01/23 |
215 | 235,518 | ||||||
|
|
50 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Missouri — 1.1% | ||||||||
City of Kansas City MO GO, Series A, 5.00%, 02/01/23 |
$ | 550 | $ | 583,013 | ||||
City of Springfield MO Public Utility Revenue RB, 5.00%, 08/01/23 |
175 | 189,591 | ||||||
Metropolitan St Louis Sewer District RB, Series B, 5.00%, 05/01/25 (PR 05/01/23) |
175 | 187,475 | ||||||
Missouri Highway & Transportation Commission RB |
||||||||
Series A, 4.00%, 05/01/23 |
100 | 105,650 | ||||||
Series A, 5.00%, 05/01/23 |
220 | 235,717 | ||||||
Series B, 5.00%, 05/01/23 |
125 | 133,813 | ||||||
Series C, 5.00%, 02/01/23 |
620 | 657,053 | ||||||
Series S, 5.00%, 05/01/23 |
490 | 524,547 | ||||||
Missouri
State Board of Public Buildings RB |
225 | 245,354 | ||||||
Series A, 4.00%, 04/01/23 |
295 | 310,725 | ||||||
Series B, 5.00%, 10/01/23 |
120 | 130,855 | ||||||
Missouri State Environmental Improvement & Energy Resources Authority RB |
||||||||
Series A, 5.00%, 07/01/23 |
160 | 172,666 | ||||||
Series B, 5.00%, 01/01/23 |
80 | 84,468 | ||||||
Series B, 5.00%, 07/01/23 |
105 | 113,312 | ||||||
|
|
|||||||
3,674,239 | ||||||||
Nebraska — 0.3% | ||||||||
Nebraska Public Power District RB, Series B, 5.00%, 01/01/23 . |
215 | 226,903 | ||||||
Omaha Public Power District RB, Series A, 5.00%, 02/01/23 |
740 | 783,649 | ||||||
|
|
|||||||
1,010,552 | ||||||||
Nevada — 2.5% | ||||||||
City of Las Vegas NV GOL, Series A, 5.00%, 06/01/23 |
115 | 123,470 | ||||||
Clark County School District GOL |
||||||||
Series A, 5.00%, 06/15/23 |
300 | 322,064 | ||||||
Series A, 5.00%, 06/15/23 |
300 | 322,064 | ||||||
Series B, 5.00%, 06/15/23 |
260 | 279,122 | ||||||
Clark County Water Reclamation District GOL, 5.00%, 07/01/23 |
940 | 1,013,594 | ||||||
County of Clark Department of Aviation RB, Series A, 5.00%, 07/01/23 |
150 | 161,691 | ||||||
County of Clark NV GOL 5.00%, 06/01/23 |
75 | 80,586 | ||||||
5.00%, 11/01/23 |
580 | 634,427 | ||||||
Series A, 5.00%, 11/01/23 |
280 | 306,275 | ||||||
County of Clark NV Passenger Facility Charge Revenue RB, 5.00%, 07/01/23 |
250 | 269,486 | ||||||
County of Clark NV RB, 5.00%, 07/01/23 |
695 | 749,412 | ||||||
Las Vegas Valley Water District GOL |
||||||||
Series A, 5.00%, 06/01/23 |
570 | 612,643 | ||||||
Series B, 5.00%, 12/01/23 |
125 | 137,196 | ||||||
Nevada System of Higher Education COP, Series A, 5.00%, 07/01/23 |
40 | 43,027 | ||||||
Nevada System of Higher Education RB |
||||||||
Series A, 5.00%, 07/01/23 |
150 | 161,534 | ||||||
Series B, 5.00%, 07/01/23 |
100 | 107,690 | ||||||
State of Nevada GOL |
||||||||
Series D, 5.00%, 04/01/23 |
335 | 357,633 | ||||||
Series D-1, 5.00%, 03/01/23 |
675 | 717,975 | ||||||
Series H-1, 5.00%, 06/01/23 |
210 | 225,815 | ||||||
State of Nevada Highway Improvement Revenue RB, 5.00%, 12/01/23 |
1,035 | 1,136,210 | ||||||
Truckee Meadows Water Authority RB, 5.00%, 07/01/23 |
230 | 248,007 |
Security | Par (000) |
Value | ||||||
Nevada (continued) | ||||||||
Washoe County School District/NV GOL |
||||||||
Series A, 5.00%, 06/01/23 (PSF) |
$ | 190 | $ | 203,994 | ||||
Series F, 5.00%, 06/01/23 |
40 | 42,946 | ||||||
|
|
|||||||
8,256,861 | ||||||||
New Hampshire — 0.2% | ||||||||
New Hampshire Health and Education Facilities Authority Act RB, 5.00%, 07/01/23 |
|
125 |
|
|
134,525 |
| ||
New Hampshire Municipal Bond Bank RB |
||||||||
Series B, 5.00%, 08/15/23 |
100 | 108,442 | ||||||
Series C, 5.25%, 08/15/23 (HERBIP) |
100 | 108,887 | ||||||
Series E, 5.00%, 08/15/23 |
125 | 135,553 | ||||||
State of New Hampshire GO, Series A, 5.00%, 03/01/23 |
200 | 212,733 | ||||||
|
|
|||||||
700,140 | ||||||||
New Jersey — 1.8% | ||||||||
County
of Monmouth NJ GO |
120 | 126,861 | ||||||
5.00%, 07/15/23 |
115 | 124,228 | ||||||
Monmouth
County Improvement Authority (The) RB |
160 | 172,896 | ||||||
Series B, 4.00%, 08/01/23 (GTD) |
50 | 53,261 | ||||||
Series B, 5.00%, 12/01/23 (GTD) |
245 | 268,904 | ||||||
New
Jersey Economic Development Authority RB |
150 | 161,032 | ||||||
Series B, 5.00%, 11/01/23 (SAP) |
470 | 512,326 | ||||||
Series DDD, 5.00%, 06/15/23 |
100 | 107,355 | ||||||
Series N-1, 5.50%, 09/01/23 (NPFGC) |
200 | 218,381 | ||||||
Series NN, 5.00%, 03/01/23 |
800 | 848,607 | ||||||
Series UU, 5.00%, 06/15/23 |
50 | 53,677 | ||||||
Series XX, 5.00%, 06/15/23 (SAP) |
305 | 327,432 | ||||||
New
Jersey Educational Facilities Authority RB |
95 | 101,825 | ||||||
5.00%, 06/15/23 |
140 | 150,297 | ||||||
Series B, 5.00%, 07/01/23 |
50 | 53,967 | ||||||
New Jersey Transportation Trust Fund Authority RB |
||||||||
Series A, 5.00%, 06/15/23 |
405 | 434,992 | ||||||
Series A, 5.75%, 06/15/23 (NPFGC) |
100 | 108,564 | ||||||
Series AA, 5.00%, 06/15/23 |
505 | 542,141 | ||||||
New Jersey Turnpike Authority RB |
||||||||
Series A, 5.00%, 01/01/23 (ETM) |
10 | 10,557 | ||||||
Series B, 5.00%, 01/01/23 |
255 | 268,748 | ||||||
Series C, 5.00%, 01/01/23 |
170 | 179,166 | ||||||
State
of New Jersey GO |
460 | 492,818 | ||||||
Series A, 4.00%, 06/01/23 |
395 | 416,968 | ||||||
Series T, 5.00%, 06/01/23 |
350 | 374,970 | ||||||
|
|
|||||||
6,109,973 | ||||||||
New Mexico — 1.0% | ||||||||
County of Santa Fe NM GO, 5.00%, 07/01/23 |
145 | 156,403 | ||||||
County of Santa Fe NM RB, 5.00%, 06/01/23 |
185 | 198,657 | ||||||
New Mexico Finance Authority RB, Series B, 5.00%, 06/01/23 . |
140 | 150,543 | ||||||
State
of New Mexico GO |
100 | 106,339 | ||||||
Series B, 5.00%, 03/01/23 |
600 | 638,034 | ||||||
State
of New Mexico Severance Tax Permanent Fund RB |
155 | 167,216 | ||||||
Series A, 5.00%, 07/01/23 |
1,250 | 1,348,519 | ||||||
Series B, 4.00%, 07/01/23 |
390 | 414,266 | ||||||
Series B, 5.00%, 07/01/23 |
40 | 43,153 |
SCHEDULE OF INVESTMENTS |
51 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
New Mexico (continued) | ||||||||
University of New Mexico (The) RB |
||||||||
Series A, 5.00%, 06/01/23 |
$ | 130 | $ | 139,360 | ||||
Series C, 5.00%, 06/01/23 |
100 | 107,200 | ||||||
|
|
|||||||
3,469,690 | ||||||||
New York — 10.2% | ||||||||
City of New York NY GO |
||||||||
Series 1, 5.00%, 08/01/23 |
375 | 406,128 | ||||||
Series A, 4.00%, 08/01/23 |
150 | 159,838 | ||||||
Series A, 5.00%, 08/01/23 |
340 | 368,223 | ||||||
Series A-1, 5.00%, 08/01/23 |
150 | 162,451 | ||||||
Series C, 5.00%, 08/01/23 |
2,075 | 2,247,242 | ||||||
Series C-1, 5.00%, 08/01/23 |
250 | 270,752 | ||||||
Series D, 5.00%, 08/01/23 |
35 | 37,905 | ||||||
Series D-1, 5.00%, 08/01/23 |
50 | 54,150 | ||||||
Series E, 5.00%, 08/01/23 |
210 | 227,432 | ||||||
Series G, 5.00%, 08/01/23 |
705 | 763,521 | ||||||
Series H, 5.00%, 08/01/23 |
765 | 828,501 | ||||||
Series I, 5.00%, 03/01/23 |
65 | 69,138 | ||||||
Series I, 5.00%, 03/01/23 (ETM) |
10 | 10,636 | ||||||
Series I, 5.00%, 08/01/23 |
250 | 270,752 | ||||||
Series J, 5.00%, 08/01/23 |
800 | 866,407 | ||||||
County of Albany NY GOL, 4.00%, 08/01/23 |
100 | 106,522 | ||||||
County of Nassau NY GOL, Series C, 5.00%, 04/01/28 (PR 04/01/23) (AGM) |
515 | 549,793 | ||||||
Hudson Yards Infrastructure Corp. RB, Series A, 5.00%, 02/15/23 |
100 | 106,038 | ||||||
Long
Island Power Authority RB |
400 | 434,891 | ||||||
Series A, 5.00%, 09/01/23 |
150 | 163,084 | ||||||
Metropolitan
Transportation Authority RB |
200 | 214,223 | ||||||
Series A, 5.00%, 11/15/23 |
10 | 10,961 | ||||||
Series A-1, 5.00%, 11/15/23 |
50 | 54,567 | ||||||
Series A-2, 5.00%, 11/15/23 |
195 | 212,813 | ||||||
Series B, 5.00%, 11/15/23 |
930 | 1,014,954 | ||||||
Series B-3, 5.00%, 11/15/23 |
55 | 60,024 | ||||||
Series C, 5.00%, 11/15/23 |
160 | 174,616 | ||||||
Series C-1, 5.00%, 11/15/23 |
365 | 398,342 | ||||||
Series D, 5.00%, 11/15/23 |
400 | 436,540 | ||||||
Series F, 5.00%, 11/15/23 |
140 | 152,791 | ||||||
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
Series S-1, 5.00%, 07/15/23 (SAW) |
650 | 702,536 | ||||||
Series S-2, 5.00%, 07/15/23 (SAW) |
370 | 399,822 | ||||||
Series S-3, 5.00%, 07/15/23 (SAW) |
200 | 216,120 | ||||||
Series S-4A, 5.00%, 07/15/23 (SAW) |
250 | 270,253 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
5.00%, 11/01/23 |
210 | 229,706 | ||||||
Series A-1, 4.00%, 08/01/23 |
125 | 133,198 | ||||||
Series A-1, 5.00%, 08/01/23 |
590 | 638,974 | ||||||
Series A-3, 5.00%, 08/01/23 |
210 | 227,432 | ||||||
Series B-1, 4.00%, 08/01/23 |
100 | 106,558 | ||||||
Series B-1, 5.00%, 11/01/23 |
100 | 109,384 | ||||||
Series C, 5.00%, 11/01/23 |
535 | 585,204 | ||||||
Series D, 5.00%, 11/01/23 |
315 | 344,560 | ||||||
Series E-1, 5.00%, 02/01/23 |
25 | 26,494 | ||||||
Series F-1, 5.00%, 02/01/23 |
295 | 312,630 | ||||||
Sub-Series C, 5.00%, 11/01/23 |
645 | 705,527 |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
New York City Water & Sewer System RB |
||||||||
Series AA, 4.00%, 06/15/23 |
$ | 175 | $ | 185,675 | ||||
Series AA-2, 5.00%, 06/15/23 |
885 | 953,284 | ||||||
Series BB2, 4.00%, 06/15/23 |
135 | 143,228 | ||||||
Series DD, 5.00%, 06/15/23 |
385 | 414,706 | ||||||
New
York Convention Center Development Corp. RB |
25 | 27,261 | ||||||
Series B, 5.00%, 11/15/23 |
20 | 21,689 | ||||||
New
York State Dormitory Authority RB |
100 | 107,899 | ||||||
Series 2015 B-A, 5.00%, 03/15/23 |
110 | 117,140 | ||||||
Series A, 4.00%, 03/15/23 |
60 | 63,112 | ||||||
Series A, 4.00%, 10/01/23 (SAW) |
240 | 254,942 | ||||||
Series A, 5.00%, 02/15/23 |
1,420 | 1,506,551 | ||||||
Series A, 5.00%, 03/15/23 |
1,385 | 1,474,903 | ||||||
Series A, 5.00%, 07/01/23 |
60 | 64,635 | ||||||
Series A, 5.00%, 10/01/23 (AGM) |
65 | 70,854 | ||||||
Series A, 5.00%, 10/01/23 (SAW) |
150 | 162,185 | ||||||
Series A, 5.00%, 02/15/36 (PR 02/15/24) |
1,000 | 1,061,625 | ||||||
Series A, 5.50%, 05/15/23 (NPFGC) |
205 | 221,586 | ||||||
Series B, 5.00%, 02/15/23 |
760 | 806,331 | ||||||
Series B, 5.00%, 07/01/23 |
315 | 339,662 | ||||||
Series B, 5.00%, 10/01/23 |
200 | 218,173 | ||||||
Series C, 5.00%, 03/15/23 |
835 | 889,202 | ||||||
Series D, 5.00%, 02/15/23 |
335 | 355,644 | ||||||
Series E, 5.00%, 02/15/23 |
325 | 344,840 | ||||||
Series E, 5.00%, 03/15/23 |
245 | 261,054 | ||||||
Series E, 5.00%, 10/01/23 (SAW) |
50 | 54,062 | ||||||
New
York State Environmental Facilities Corp. RB |
200 | 214,681 | ||||||
5.00%, 06/15/23 |
520 | 560,183 | ||||||
Series B, 5.00%, 06/15/23 |
110 | 118,500 | ||||||
Series D, 5.00%, 09/15/23 |
175 | 190,509 | ||||||
New York State Thruway Authority RB |
||||||||
Series K, 5.00%, 01/01/23 |
160 | 168,800 | ||||||
Series L, 5.00%, 01/01/23 |
260 | 274,301 | ||||||
New York State Urban Development Corp. RB |
||||||||
Series A, 5.00%, 03/15/23 |
1,370 | 1,458,930 | ||||||
Series A-2, 5.00%, 03/15/23 |
175 | 186,360 | ||||||
Series C-1, 5.00%, 03/15/23 |
325 | 346,096 | ||||||
Series D, 5.00%, 03/15/23 |
805 | 857,254 | ||||||
Series E, 5.00%, 03/15/23 |
140 | 149,088 | ||||||
Port
Authority of New York & New Jersey RB |
355 | 383,676 | ||||||
5.00%, 10/15/23 |
130 | 141,910 | ||||||
Series 179, 5.00%, 12/01/23 |
200 | 219,513 | ||||||
Sales Tax Asset Receivable Corp. RB, Series A, 5.00%, 10/15/23 |
855 | 934,090 | ||||||
State of New York GO, Series A, 4.00%, 03/01/23 |
240 | 252,126 | ||||||
Town of Brookhaven NY GOL, Series A, 3.00%, 03/15/23 |
500 | 519,285 | ||||||
Triborough Bridge & Tunnel Authority RB |
||||||||
Series A, 5.00%, 11/15/23 |
140 | 153,351 | ||||||
Series A, 5.00%, 11/15/23 |
530 | 580,541 | ||||||
Series A, 5.00%, 11/15/23 (Call 05/15/23) |
100 | 107,136 | ||||||
Series B, 4.00%, 11/15/23 |
280 | 301,022 | ||||||
Series B, 5.00%, 11/15/23 |
270 | 295,747 | ||||||
|
|
|||||||
34,374,975 | ||||||||
North Carolina — 2.2% | ||||||||
Cape Fear Public Utility Authority RB, Series A, 5.00%, 06/01/23 |
50 | 53,724 |
52 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
North Carolina (continued) | ||||||||
City of Charlotte NC COP, Series C, 5.00%, 12/01/23 |
$ | 40 | $ | 43,934 | ||||
City of Winston-Salem NC RB, Series C, 5.00%, 06/01/23 |
20 | 21,506 | ||||||
County
of Buncombe NC RB |
335 | 359,951 | ||||||
Series A, 5.00%, 06/01/23 |
200 | 214,896 | ||||||
County of Durham NC GO, 5.00%, 10/01/23 |
200 | 218,173 | ||||||
County of Forsyth NC GO, 5.00%, 12/01/23 |
255 | 280,104 | ||||||
County of Guilford NC GO, Series A, 5.00%, 05/01/23 |
685 | 733,830 | ||||||
County of Mecklenburg NC GO |
||||||||
Series A, 5.00%, 09/01/23 |
100 | 108,704 | ||||||
Series B, 5.00%, 12/01/23 |
65 | 71,399 | ||||||
County of Mecklenburg NC RB, Series A, 5.00%, 10/01/23 |
295 | 321,805 | ||||||
County of Union NC GO, 5.00%, 09/01/23 |
665 | 722,878 | ||||||
County
of Wake NC GO |
120 | 128,143 | ||||||
Series B, 4.00%, 05/01/23 |
125 | 132,102 | ||||||
County
of Wake NC RB |
150 | 162,997 | ||||||
Series A, 5.00%, 12/01/23 |
465 | 510,471 | ||||||
North Carolina Medical Care Commission RB, 5.00%, 06/01/23 |
15 | 16,127 | ||||||
North Carolina Municipal Power Agency No. 1 RB |
||||||||
Series B, 5.00%, 01/01/23 |
110 | 116,037 | ||||||
Series E, 5.00%, 01/01/23 |
10 | 10,549 | ||||||
North Carolina State University at Raleigh RB, 5.00%, 10/01/28 (10/01/23) |
200 | 218,092 | ||||||
State
of North Carolina GO |
65 | 69,906 | ||||||
Series A, 5.00%, 06/01/23 |
1,615 | 1,736,891 | ||||||
State
of North Carolina RB |
610 | 648,752 | ||||||
Series A, 5.00%, 05/01/23 |
260 | 278,616 | ||||||
Series C, 5.00%, 05/01/23 |
155 | 166,098 | ||||||
|
|
|||||||
7,345,685 | ||||||||
North Dakota — 0.0% | ||||||||
North Dakota Public Finance Authority RB, Series A, 5.00%, 10/01/23 |
105 | 114,477 | ||||||
|
|
|||||||
Ohio — 3.4% | ||||||||
City of Cincinnati OH Water System Revenue RB, Series B, 5.00%, 12/01/23 |
190 | 208,621 | ||||||
City of Columbus OH GO |
||||||||
Series 1, 5.00%, 07/01/23 |
175 | 188,854 | ||||||
Series 2017-1, 4.00%, 04/01/23 |
500 | 526,725 | ||||||
Series 5, 5.00%, 08/15/23 |
270 | 292,895 | ||||||
Series A, 4.00%, 07/01/23 |
25 | 26,564 | ||||||
Series A, 5.00%, 02/15/23 |
260 | 276,011 | ||||||
Series A, 5.00%, 04/01/23 |
170 | 181,485 | ||||||
Series A, 5.00%, 08/15/23 |
130 | 141,024 | ||||||
Series A, 5.00%, 08/15/28 (PR 08/15/24) |
225 | 244,049 | ||||||
City of Columbus OH GOL, Series B, 5.00%, 08/15/23 |
270 | 292,895 | ||||||
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/23 |
135 | 148,261 | ||||||
County of Hamilton OH Sewer System Revenue RB, Series A, 5.00%, 12/01/23 |
20 | 21,942 | ||||||
Miami University/Oxford OH RB, 5.00%, 09/01/23 |
165 | 179,329 | ||||||
Northeast Ohio Regional Sewer District RB, 5.00%, 11/15/28 (PR 05/15/24) |
625 | 670,708 | ||||||
Ohio Higher Educational Facility Commission RB 5.00%, 12/01/23 |
150 | 164,602 |
Security | Par (000) |
Value | ||||||
Ohio (continued) | ||||||||
Series A, 5.00%, 12/01/23 |
$ | 160 | $ | 175,576 | ||||
Ohio State University (The) RB, Series A, 5.00%, 12/01/23 |
270 | 296,521 | ||||||
Ohio Turnpike & Infrastructure Commission RB |
||||||||
Series A, 5.00%, 02/15/23 |
385 | 408,709 | ||||||
Series A-1, 5.00%, 02/15/23 |
290 | 307,858 | ||||||
Ohio University RB, Series A, 5.00%, 12/01/23 |
120 | 131,392 | ||||||
Ohio
Water Development Authority RB |
595 | 653,052 | ||||||
Series A, 5.00%, 06/01/23 |
205 | 220,438 | ||||||
Series B, 5.00%, 12/01/23 |
130 | 142,684 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund RB |
||||||||
5.00%, 06/01/23 |
180 | 193,555 | ||||||
5.00%, 12/01/23 |
255 | 279,880 | ||||||
5.50%, 06/01/23 |
235 | 254,550 | ||||||
5.50%, 12/01/23 |
150 | 166,190 | ||||||
Series 2015-A, 5.00%, 12/01/23 |
240 | 263,416 | ||||||
State of Ohio Department of Administrative Services COP, 5.00%, 09/01/23 |
275 | 298,405 | ||||||
State of Ohio GO |
||||||||
Series A, 5.00%, 03/01/23 |
155 | 164,739 | ||||||
Series A, 5.00%, 03/15/23 |
135 | 143,725 | ||||||
Series A, 5.00%, 05/01/23 |
370 | 396,433 | ||||||
Series A, 5.00%, 08/01/23 |
345 | 373,258 | ||||||
Series A, 5.00%, 09/15/23 |
270 | 293,609 | ||||||
Series B, 4.00%, 09/01/23 |
200 | 213,489 | ||||||
Series B, 5.00%, 08/01/23 |
185 | 200,153 | ||||||
Series C, 5.00%, 09/01/23 |
90 | 97,712 | ||||||
Series C, 5.00%, 11/01/23 |
100 | 109,321 | ||||||
Series S, 5.00%, 04/01/23 |
50 | 53,334 | ||||||
Series S, 5.00%, 05/01/23 |
110 | 117,859 | ||||||
Series T, 5.00%, 11/01/23 |
150 | 164,139 | ||||||
Series V, 5.00%, 05/01/23 |
500 | 535,721 | ||||||
Series W, 4.00%, 05/01/23 |
150 | 158,475 | ||||||
State of Ohio GOL, Series A, 5.00%, 09/01/23 |
115 | 124,854 | ||||||
State of Ohio RB |
||||||||
Series A, 5.00%, 02/01/23 |
100 | 105,963 | ||||||
Series A, 5.00%, 04/01/23 |
230 | 245,505 | ||||||
Series C, 5.00%, 12/01/23 |
440 | 482,736 | ||||||
|
|
|||||||
11,337,216 | ||||||||
Oklahoma — 0.9% | ||||||||
City of Oklahoma City OK GO, 5.00%, 03/01/23 |
215 | 228,658 | ||||||
Grand River Dam Authority RB, Series A, 5.00%, 06/01/23 |
725 | 778,759 | ||||||
Oklahoma Agricultural & Mechanical Colleges RB, Series C, 5.00%, 08/01/23 |
130 | 140,767 | ||||||
Oklahoma
Capitol Improvement Authority RB |
315 | 339,937 | ||||||
Series A, 5.00%, 01/01/23 |
45 | 47,513 | ||||||
Series A, 5.00%, 07/01/23 |
140 | 151,083 | ||||||
Series B, 5.00%, 07/01/23 |
200 | 215,833 | ||||||
Series C, 5.00%, 01/01/23 |
100 | 105,585 | ||||||
Oklahoma City Water Utilities Trust RB, 5.00%, 07/01/23 |
180 | 194,218 | ||||||
Oklahoma Turnpike Authority RB, Series D, 4.00%, 01/01/23 |
180 | 187,961 | ||||||
Oklahoma
Water Resources Board RB |
320 | 341,525 | ||||||
Series A, 5.00%, 04/01/23 |
135 | 144,081 | ||||||
|
|
|||||||
2,875,920 |
SCHEDULE OF INVESTMENTS |
53 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Oregon — 2.1% |
||||||||
City of Eugene OR Electric Utility System Revenue RB, Series A, 5.00%, 08/01/23 |
$ |
55 |
|
$ |
59,515 |
| ||
City of Portland OR Sewer System Revenue RB |
||||||||
Series A, 5.00%, 03/01/23 |
500 | 531,903 | ||||||
Series A, 5.00%, 10/01/23 |
90 | 98,178 | ||||||
Series B, 5.00%, 06/15/23 |
310 | 333,955 | ||||||
Series B, 5.00%, 10/01/23 |
115 | 125,450 | ||||||
City of Portland OR Water System Revenue RB, Series A, 5.00%, 04/01/23 |
220 | 234,896 | ||||||
City of Salem OR GO, 5.00%, 06/01/23 |
100 | 107,531 | ||||||
City
of Salem OR Water & Sewer Revenue RB, |
75 | 80,586 | ||||||
Deschutes & Jefferson Counties School District No. 2J Redmond/OR GO, 0.00%, 06/15/23 (GTD)(a) |
|
45 |
|
|
44,799 |
| ||
Multnomah
County School District No. 1 Portland/OR GO, |
260 | 280,047 | ||||||
Oregon State Business Development Commission RB, Series 232, VRDN,2.40%, 12/01/40 Put(b) |
350 | 361,733 | ||||||
Oregon State Lottery RB |
||||||||
Series A, 5.00%, 04/01/23 |
380 | 405,673 | ||||||
Series B, 5.00%, 04/01/23 |
135 | 144,121 | ||||||
Series C, 5.00%, 04/01/23 |
145 | 154,796 | ||||||
Port
of Portland OR Airport Revenue RB, Series 23, |
175 | 188,670 | ||||||
Portland Community College District GO, 5.00%, 06/15/23 |
190 | 204,650 | ||||||
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/23 (GTD)(a) |
150 | 149,329 | ||||||
State of Oregon Department of Transportation RB |
||||||||
Series C, 5.00%, 11/15/23 |
160 | 175,327 | ||||||
Series A, 5.00%, 11/15/23 |
605 | 662,953 | ||||||
Series A, 5.00%, 11/15/29 (PR 11/15/24) |
1,000 | 1,096,091 | ||||||
State of Oregon GO |
||||||||
Series A, 5.00%, 08/01/23 |
50 | 54,150 | ||||||
Series C, 5.00%, 06/01/23 |
100 | 107,531 | ||||||
Series D, 5.00%, 05/01/23 |
295 | 316,075 | ||||||
Series F, 5.00%, 05/01/23 |
100 | 107,144 | ||||||
Series G, 5.00%, 11/01/23 |
45 | 49,213 | ||||||
Series H, 5.00%, 05/01/23 |
495 | 530,364 | ||||||
Series L, 5.00%, 08/01/23 |
235 | 254,507 | ||||||
Series O, 5.00%, 08/01/23 |
70 | 75,811 | ||||||
Tri-County Metropolitan Transportation District of Oregon RB, Series B, 5.00%, 09/01/23 |
|
20 |
|
|
21,725 |
| ||
|
|
|||||||
6,956,723 | ||||||||
Pennsylvania — 2.1% | ||||||||
City
of Philadelphia PA GO |
250 | 270,706 | ||||||
Series A, 5.00%, 08/01/23 |
115 | 124,525 | ||||||
Commonwealth of Pennsylvania GO |
||||||||
First Series, 5.00%, 01/01/23 |
550 | 580,717 | ||||||
First Series, 5.00%, 02/01/23 |
110 | 116,574 | ||||||
First Series, 5.00%, 03/01/23 |
265 | 281,872 | ||||||
First Series, 5.00%, 03/15/23 |
195 | 207,769 | ||||||
First Series, 5.00%, 04/01/23 |
185 | 197,499 | ||||||
First Series, 5.00%, 06/15/23 |
160 | 172,337 | ||||||
First Series, 5.00%, 08/15/23 |
815 | 884,109 | ||||||
First Series, 5.00%, 09/15/23 |
290 | 315,701 | ||||||
First Series, 5.00%, 04/01/24 (PR 04/01/23) |
350 | 373,594 | ||||||
Second Series, 5.00%, 09/15/23 |
340 | 370,132 | ||||||
Second Series, 5.00%, 10/15/23 |
570 | 622,456 | ||||||
County of Lehigh PA GO, 4.00%, 11/15/23 |
650 | 698,110 |
Security | Par (000) |
Value | ||||||
Pennsylvania (continued) |
||||||||
Delaware
County Authority RB |
$ | 110 | $ | 118,828 | ||||
5.00%, 12/01/23 |
75 | 82,120 | ||||||
Pennsylvania
Intergovernmental Cooperation Authority ST, |
225 | 242,310 | ||||||
Pennsylvania
State University (The) RB, Series B, |
125 | 135,807 | ||||||
Pennsylvania Turnpike Commission RB |
||||||||
Series A, 5.00%, 12/01/23 |
490 | 536,714 | ||||||
Series A, 5.25%, 07/15/23 (AGM) |
175 | 189,785 | ||||||
Series A-1, 5.00%, 12/01/23 |
225 | 246,360 | ||||||
Series B, 5.00%, 12/01/23 |
35 | 38,261 | ||||||
Southeastern Pennsylvania Transportation Authority RB, 5.00%, 06/01/23 |
120 | 128,898 | ||||||
|
|
|||||||
6,935,184 | ||||||||
Rhode Island — 0.8% |
||||||||
Rhode Island Commerce Corp. RB, Series A, 5.00%, 06/15/23 . |
385 | 414,228 | ||||||
Rhode Island Health & Educational Building Corp. RB, 5.00%, 09/01/23 |
215 | 233,671 | ||||||
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB |
||||||||
Series A, 5.00%, 10/01/23 |
295 | 321,627 | ||||||
Series B, 5.00%, 10/01/23 |
500 | 545,131 | ||||||
Series C, 5.00%, 10/01/23 |
25 | 27,256 | ||||||
State of Rhode Island COP, Series B, 5.00%, 10/01/23 |
145 | 157,621 | ||||||
State of Rhode Island GO 5.00%, 11/01/23 |
50 | 54,703 | ||||||
Series A, 3.00%, 08/01/23 |
400 | 419,119 | ||||||
Series A, 5.00%, 05/01/23 |
150 | 160,669 | ||||||
Series D, 5.00%, 08/01/23 |
400 | 433,056 | ||||||
Series A, 5.00%, 08/01/23 |
50 | 54,132 | ||||||
|
|
|||||||
2,821,213 | ||||||||
South Carolina — 0.2% | ||||||||
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/23 |
120 | 131,787 | ||||||
South Carolina Transportation Infrastructure Bank RB, Series A, 5.00%, 10/01/23 |
|
115 |
|
|
125,357 |
| ||
State of South Carolina GO |
||||||||
Series A, 5.00%, 04/01/23 (SAW) |
295 | 315,017 | ||||||
Series A, 5.00%, 08/01/23 (SAW) |
200 | 216,675 | ||||||
|
|
|||||||
788,836 | ||||||||
Tennessee — 2.3% | ||||||||
City of Memphis TN GO 5.00%, 05/01/23 |
370 | 396,086 | ||||||
Series A, 5.00%, 11/01/23 |
125 | 136,730 | ||||||
County of Blount TN GO, Series B, 5.00%, 06/01/23 |
260 | 279,150 | ||||||
County of Hamilton TN GO, Series A, 5.00%, 05/01/23 |
260 | 278,534 | ||||||
County
of Knox TN GO |
50 | 53,356 | ||||||
5.00%, 06/01/23 |
175 | 188,063 | ||||||
County of Shelby TN GO |
||||||||
Series A, 4.00%, 03/01/23 |
260 | 273,065 | ||||||
Series A, 5.00%, 03/01/23 |
160 | 170,165 | ||||||
County of Sumner TN GO, 5.00%, 12/01/23 |
70 | 76,845 | ||||||
County of Washington TN GO, Series A, 4.00%, 06/01/23 |
75 | 79,392 | ||||||
County of Williamson TN GO, 5.00%, 04/01/23 |
70 | 74,718 | ||||||
Metropolitan Government Nashville & Davidson County Sports Authority RB, 5.00%, 07/01/23 |
|
80 |
|
|
86,207 |
| ||
54 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Tennessee (continued) | ||||||||
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/23 |
$ | 175 | $ | 187,874 | ||||
Metropolitan
Government of Nashville & Davidson County TN GO |
1,255 | 1,354,789 | ||||||
Series A, 5.00%, 07/01/23 |
340 | 367,035 | ||||||
Series A, 5.00%, 01/01/29 (PR 01/01/24) |
60 | 63,307 | ||||||
Series A, 5.00%, 01/01/33 (PR 01/01/24) |
1,250 | 1,318,904 | ||||||
Metropolitan
Government of Nashville & Davidson County
TN Water & Sewer Revenue RB |
70 | 75,566 | ||||||
Series B, 5.00%, 07/01/23 |
100 | 107,951 | ||||||
State of Tennessee GO |
||||||||
Series A, 5.00%, 08/01/23 |
870 | 942,058 | ||||||
Series A, 5.00%, 09/01/23 |
250 | 271,759 | ||||||
Series B, 5.00%, 08/01/23 |
140 | 151,595 | ||||||
Tennessee
State School Bond Authority RB |
120 | 131,311 | ||||||
Series A, 5.00%, 11/01/23 |
170 | 186,025 | ||||||
Series B, 5.00%, 11/01/23 |
510 | 558,074 | ||||||
|
|
|||||||
7,808,559 | ||||||||
Texas — 11.3% | ||||||||
Abilene Independent School District GO, 5.00%, 02/15/23 (PSF) |
175 | 185,753 | ||||||
Aldine Independent School District GO, 5.00%, 02/15/23 (PSF) |
135 | 143,277 | ||||||
Allen Independent School District GO, 5.00%, 02/15/23 (PSF) . |
225 | 238,856 | ||||||
Alvin Independent School District/TX GO, Series C, 5.00%, 02/15/23 (PSF) |
235 | 249,283 | ||||||
Arlington Independent School District/TX GO, Series B, 5.00%, 02/15/23 (PSF) |
385 | 408,605 | ||||||
Austin Community College District GOL, 5.00%, 08/01/23 |
235 | 254,378 | ||||||
Austin Community College District Public Facility Corp. RB, 5.00%, 08/01/23 |
100 | 108,154 | ||||||
Austin
Independent School District GO |
460 | 498,184 | ||||||
Series B, 5.00%, 08/01/23 (PSF) |
190 | 205,772 | ||||||
Birdville
Independent School District GO |
45 | 47,735 | ||||||
Series B, 5.00%, 02/15/23 (PSF) |
40 | 42,431 | ||||||
Board of Regents of the University of Texas System RB |
||||||||
Series A, 5.00%, 08/15/23 |
240 | 260,441 | ||||||
Series I, 5.00%, 08/15/23 |
375 | 406,940 | ||||||
Series J, 5.00%, 08/15/23 |
100 | 108,517 | ||||||
Bryan Independent School District GO, 4.00%, 02/15/23 (PSF). |
250 | 262,186 | ||||||
Central Texas Regional Mobility Authority RB, Series A, 5.00%, 01/01/23 |
100 | 105,392 | ||||||
Central
Texas Turnpike System RB |
250 | 247,783 | ||||||
Series C, 5.00%, 08/15/23 |
625 | 676,356 | ||||||
City of Austin TX Electric Utility Revenue RB, Series A, 5.00%, 11/15/23 |
235 | 257,460 | ||||||
City of Austin TX GOL, 5.00%, 09/01/23 |
410 | 445,448 | ||||||
City
of Austin TX Water & Wastewater System Revenue RB |
40 | 42,923 | ||||||
5.00%, 11/15/23 |
215 | 235,641 | ||||||
Series A, 5.00%, 05/15/23 |
145 | 155,597 | ||||||
Series A, 5.00%, 11/15/23 |
375 | 411,002 | ||||||
City of Denton TX GOL, 5.00%, 02/15/23 |
115 | 121,851 |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
City of Fort Worth TX Water & Sewer System Revenue RB, Series A, 5.00%, 02/15/23 |
$ | 165 | $ | 175,117 | ||||
City of Garland TX GOL, 5.00%, 02/15/23 |
165 | 175,117 | ||||||
City
of Houston TX Combined Utility System Revenue RB |
140 | 153,471 | ||||||
Series B, 5.00%, 11/15/23 |
140 | 153,471 | ||||||
Series C, 5.00%, 05/15/23 |
355 | 380,717 | ||||||
Series D, 5.00%, 11/15/23 |
200 | 219,245 | ||||||
Serries C, 5.00%, 11/15/23 |
310 | 339,829 | ||||||
City of Houston TX GOL, Series A, 5.00%, 03/01/23 |
135 | 143,501 | ||||||
City of Lubbock TX GOL, 5.00%, 02/15/23 |
110 | 116,744 | ||||||
City of Plano TX GOL, 5.00%, 09/01/23 |
180 | 195,701 | ||||||
City of Round Rock TX GOL, 5.00%, 08/15/23 |
75 | 81,289 | ||||||
City of San Antonio Texas Electric & Gas Systems Revenue RB, Series REF, 5.00%, 02/01/23 |
175 | 185,459 | ||||||
City
of San Antonio TX Electric & Gas Systems
Revenue RB |
505 | 535,181 | ||||||
5.00%, 02/01/23 (ETM) |
330 | 349,465 | ||||||
City of San Antonio TX GOL, 5.00%, 02/01/23 |
520 | 551,077 | ||||||
City of Waco TX GOL, 5.00%, 02/01/23 |
75 | 79,453 | ||||||
Clear Creek Independent School District GO, 5.00%, 02/15/23 (PSF) |
140 | 148,490 | ||||||
Conroe
Independent School District GO |
225 | 238,705 | ||||||
Series A, 5.00%, 02/15/23 (PSF) |
165 | 175,050 | ||||||
County of Bexar TX GOL, 5.00%, 06/15/23 |
310 | 333,587 | ||||||
County of Harris TX GOL, Series A, 5.00%, 10/01/23 |
90 | 98,160 | ||||||
County
of Harris TX RB |
275 | 298,164 | ||||||
Series A, 5.00%, 08/15/23 |
200 | 216,847 | ||||||
Cuero Independent School District GO, 5.00%, 08/15/30 (PR 08/15/23) (PSF) |
540 | 585,353 | ||||||
Cypress-Fairbanks
Independent School District GO |
570 | 605,101 | ||||||
Series A, 5.00%, 02/15/23 (PSF) |
35 | 37,155 | ||||||
Dallas
Area Rapid Transit RB |
150 | 164,602 | ||||||
Series A, 5.00%, 12/01/23 |
315 | 345,664 | ||||||
Dallas Independent School District GO, 5.00%, 08/15/23 (PSF) |
100 | 108,480 | ||||||
Dallas/Fort
Worth International Airport RB |
200 | 218,310 | ||||||
Series G, 5.00%, 11/01/23 |
160 | 174,812 | ||||||
Denton Independent School District GO, 5.00%, 08/15/23 (PSF) |
100 | 108,423 | ||||||
Fort Bend Independent School District GO, Series A, 5.00%, 08/15/23 (PSF) |
105 | 113,904 | ||||||
Frisco Independent School District GO, Series A, 5.00%, 08/15/23 (PSF) |
80 | 86,799 | ||||||
Goose Creek Consolidated Independent School District GO, 5.00%, 02/15/28 (PR 02/15/23) (PSF) |
900 | 954,642 | ||||||
Grapevine-Colleyville Independent School District GO, 0.00%, 08/15/23 (PSF)(a) |
100 | 99,361 | ||||||
Harris County Toll Road Authority (The) RB, Series A, 5.00%, 08/15/23 |
335 | 363,218 | ||||||
Houston Community College System GOL, 5.00%, 02/15/23 |
270 | 286,338 | ||||||
Houston
Independent School District GOL |
350 | 371,553 | ||||||
Series A, 5.00%, 02/15/23 (PSF) |
185 | 196,392 |
SCHEDULE OF INVESTMENTS |
55 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Humble Independent School District GO, Series B, 5.00%, 02/15/23 (PSF) |
$ | 50 | $ | 52,972 | ||||
Katy
Independent School District GO |
95 | 100,850 | ||||||
Series A, 5.00%, 02/15/23 (PSF) |
370 | 392,785 | ||||||
Keller Independent School District/TX GO, Series A, 5.00%, 02/15/23 (PSF) |
50 | 53,066 | ||||||
Killeen Independent School District GO, 5.00%, 02/15/23 (PSF) |
180 | 190,964 | ||||||
Klein
Independent School District GO |
150 | 158,887 | ||||||
Series A, 5.00%, 08/01/23 (PSF) |
390 | 422,087 | ||||||
Laredo Independent School District GO, 5.00%, 08/01/23 (PSF) |
25 | 27,034 | ||||||
Leander
Independent School District GO |
240 | 238,466 | ||||||
5.00%, 08/15/23 (PSF) |
20 | 21,681 | ||||||
Series A, 5.00%, 08/15/23 (PSF) |
85 | 92,144 | ||||||
Series A, 0.00%, 08/15/23 (PSF)(a) |
50 | 49,696 | ||||||
Series B, 5.00%, 08/15/23 |
20 | 21,670 | ||||||
Series D, 0.00%, 08/15/23 (PSF)(a) |
95 | 94,393 | ||||||
Lewisville
Independent School District GO |
200 | 216,959 | ||||||
5.00%, 08/15/23 (PSF) |
800 | 867,838 | ||||||
Series A, 4.00%, 08/15/23 (PSF) |
35 | 37,344 | ||||||
Series A, 5.00%, 08/15/23 (PSF) |
170 | 184,415 | ||||||
Series B, 5.00%, 08/15/23 |
115 | 124,752 | ||||||
Lone Star College System GOL, Series B, 5.00%, 02/15/23 |
335 | 355,540 | ||||||
Lower
Colorado River Authority RB |
320 | 343,182 | ||||||
Series B, 5.00%, 05/15/23 |
355 | 380,717 | ||||||
Magnolia
Independent School District/TX GO, |
90 | 97,530 | ||||||
Manor Independent School District GO, 5.00%, 08/01/23 (PSF) |
100 | 108,209 | ||||||
Metropolitan
Transit Authority of Harris County RB |
365 | 399,252 | ||||||
Series A, 5.00%, 11/01/23 |
105 | 114,853 | ||||||
Series B, 5.00%, 11/01/23 |
415 | 453,944 | ||||||
North
East Independent School District/TX GO |
275 | 297,878 | ||||||
5.25%, 02/01/23 (PSF) |
220 | 233,489 | ||||||
Series B, 5.00%, 02/01/23 (PSF) |
125 | 132,276 | ||||||
North
Texas Municipal Water District RB |
305 | 327,818 | ||||||
6.25%, 06/01/23 |
75 | 82,101 | ||||||
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/23 |
410 | 445,289 | ||||||
North
Texas Tollway Authority RB |
400 | 422,061 | ||||||
5.00%, 01/01/23 (ETM) |
190 | 200,588 | ||||||
Series A, 5.00%, 01/01/23 |
570 | 601,489 | ||||||
Series B, 5.00%, 01/01/23 |
280 | 295,367 | ||||||
Northside
Independent School District GO |
115 | 120,697 | ||||||
5.00%, 06/15/23 (PSF) |
25 | 26,936 | ||||||
5.00%, 08/01/23 (PSF) |
75 | 81,253 | ||||||
5.00%, 08/15/23 (PSF) |
390 | 423,217 | ||||||
Series A, 5.00%, 08/15/23 (PSF) |
65 | 70,536 |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Northwest Independent School District GO |
||||||||
Series A, 5.00%, 02/15/23 (PSF) |
$ | 200 | $ | 212,075 | ||||
Series B, 5.00%, 02/15/23 (PSF) |
120 | 127,245 | ||||||
Pasadena Independent School District GO, 5.00%, 02/15/23 (PSF) |
95 | 100,787 | ||||||
Permanent University Fund - Texas A&M University System RB |
||||||||
5.00%, 07/01/23 |
200 | 215,693 | ||||||
Series A, 5.00%, 07/01/23 |
170 | 183,339 | ||||||
Series A, 5.25%, 07/01/23 |
195 | 211,110 | ||||||
Permanent University Fund - University of Texas System RB |
||||||||
Series A, 5.00%, 07/01/23 |
50 | 53,949 | ||||||
Series B, 5.00%, 07/01/23 |
140 | 151,059 | ||||||
Plano
Independent School District GO, |
385 | 408,708 | ||||||
Prosper
Independent School District GO, |
175 | 185,566 | ||||||
Round
Rock Independent School District GO, |
90 | 97,454 | ||||||
San Angelo Independent School District GO, Series A, 5.00%, 02/15/23 (PSF) |
190 | 201,395 | ||||||
San Antonio Water System RB |
||||||||
Series A, 5.00%, 05/15/23 |
245 | 262,945 | ||||||
Series B, 5.00%, 05/15/23 |
160 | 171,719 | ||||||
Southwest Higher Education Authority Inc. RB, 5.00%, 10/01/23 |
100 | 108,664 | ||||||
Spring Branch Independent School District GOL, Series A, 5.00%, 02/01/23 (PSF) |
185 | 196,008 | ||||||
Spring Independent School District GO, 5.00%, 08/15/23 (PSF) |
420 | 455,141 | ||||||
State
of Texas GO |
150 | 160,156 | ||||||
5.00%, 08/01/23 |
150 | 162,479 | ||||||
5.00%, 10/01/23 |
760 | 828,751 | ||||||
Series A, 5.00%, 10/01/23 |
120 | 130,855 | ||||||
Series A, 5.00%, 10/01/23 |
470 | 512,517 | ||||||
Series B-1, 5.00%, 08/01/23 |
45 | 48,744 | ||||||
Series D, 5.00%, 05/15/23 |
100 | 107,341 | ||||||
Series I, 5.00%, 04/01/23 |
115 | 122,786 | ||||||
State of Texas GOL, Series A, 5.00%, 08/01/23 |
175 | 189,559 | ||||||
Tarrant
County Cultural Education Facilities Finance Corp. RB |
100 | 108,373 | ||||||
5.00%, 12/01/23 |
40 | 43,876 | ||||||
Tarrant Regional Water District RB, 6.00%, 09/01/23 |
200 | 220,941 | ||||||
Tarrant
Regional Water District Water Supply System RB |
410 | 436,103 | ||||||
Series A, 5.00%, 03/01/23 |
145 | 154,232 | ||||||
Texas A&M University RB |
||||||||
Series B, 5.00%, 05/15/23 |
180 | 193,069 | ||||||
Series D, 5.00%, 05/15/23 |
35 | 37,541 | ||||||
Series E, 5.00%, 05/15/23 |
210 | 225,247 | ||||||
Texas State Technical College RB, 5.00%, 10/15/23 |
20 | 21,832 | ||||||
Texas
State University System RB |
170 | 181,108 | ||||||
Series A, 5.00%, 03/15/23 |
1,300 | 1,384,943 | ||||||
Texas
Transportation Commission State Highway Fund RB |
630 | 687,118 | ||||||
Series A, 5.00%, 04/01/23 |
160 | 170,810 | ||||||
Series A, 5.00%, 10/01/23 |
170 | 185,413 | ||||||
Texas
Water Development Board RB |
125 | 133,595 | ||||||
5.00%, 08/01/23 |
125 | 135,330 |
56 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) |
||||||||
Series A, 5.00%, 04/15/23 |
$ | 635 | $ | 678,665 | ||||
Series A, 5.00%, 10/15/23 |
250 | 273,059 | ||||||
Series B, 5.00%, 10/15/23 |
200 | 218,447 | ||||||
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/23 |
75 | 81,198 | ||||||
Trinity River Authority RB, 5.00%, 02/01/23 |
155 | 164,203 | ||||||
United Independent School District GO, 5.00%, 08/15/23 (PSF) |
25 | 27,101 | ||||||
University of Houston RB, 4.00%, 02/15/23 |
85 | 89,143 | ||||||
University of North Texas System RB, Series A, 5.00%, 04/15/23 |
100 | 106,755 | ||||||
University of Texas System (The) RB |
||||||||
Series C, 5.00%, 08/15/23 |
375 | 406,940 | ||||||
Series D, 5.00%, 08/15/23 |
460 | 499,179 | ||||||
Series H, 5.00%, 08/15/23 |
25 | 27,129 | ||||||
|
|
|||||||
38,143,532 | ||||||||
Utah — 2.1% | ||||||||
Alpine School District/UT GO, 5.00%, 03/15/23 (GTD) |
375 | 399,610 | ||||||
Central Utah Water Conservancy District RB, Series A, 5.00%, 10/01/23 |
110 | 119,862 | ||||||
City of Salt Lake City UT Public Utilities Revenue RB, 5.00%, 02/01/23 |
100 | 105,885 | ||||||
County of Salt Lake UT RB, 5.00%, 08/15/30 (PR 08/15/23) |
1,750 | 1,898,162 | ||||||
Davis School District GO, 5.00%, 06/01/23 (GTD) |
165 | 177,426 | ||||||
Intermountain Power Agency RB, Series A, 5.00%, 07/01/23 |
280 | 301,873 | ||||||
Jordan Valley Water Conservancy District RB, Series B, 5.00%, 10/01/23 |
75 | 81,800 | ||||||
State of Utah GO, 5.00%, 07/01/23 |
40 | 43,167 | ||||||
University of Utah (The) RB |
||||||||
Series A, 5.00%, 08/01/23 (SAP) |
350 | 378,796 | ||||||
Series B, 5.00%, 08/01/23 |
175 | 189,398 | ||||||
Series B, 5.00%, 08/01/27 (PR 08/01/23) |
1,075 | 1,163,326 | ||||||
Series B, 5.00%, 08/01/28 (PR 08/01/23) |
565 | 611,422 | ||||||
Series B-1, 5.00%, 08/01/23 |
205 | 221,866 | ||||||
Utah Associated Municipal Power Systems RB, Series A, 5.00%, 09/01/23 |
620 | 671,457 | ||||||
Utah State Building Ownership Authority RB, 5.00%, 05/15/23 . |
405 | 434,144 | ||||||
Utah Transit Authority RB, Series A, 5.00%, 06/15/23 |
245 | 263,766 | ||||||
Washington County School District Board of Education/St George GO, 5.00%, 03/01/23 (GTD) |
110 | 117,003 | ||||||
|
|
|||||||
7,178,963 | ||||||||
Vermont — 0.1% | ||||||||
State of Vermont GO, Series B, 5.00%, 08/15/23 |
100 | 108,480 | ||||||
University of Vermont & State Agricultural College RB, 5.00%, 10/01/23 |
25 | 27,191 | ||||||
Vermont Municipal Bond Bank RB, Series 4, 5.00%, 12/01/23 |
25 | 27,450 | ||||||
|
|
|||||||
163,121 | ||||||||
Virginia — 4.8% | ||||||||
Chesapeake Bay Bridge & Tunnel District RB, 5.00%, 11/01/23 |
1,000 | 1,090,056 | ||||||
City of Falls Church VA GO, Series B, 5.00%, 07/15/23 |
250 | 270,239 | ||||||
City of Hampton VA GO, Series A, 5.00%, 09/01/23 (SAW) |
10 | 10,859 | ||||||
City of Newport News VA GO, Series A, 5.00%, 08/01/23 |
60 | 64,992 | ||||||
City
of Norfolk VA GO |
355 | 384,077 | ||||||
Series A, 5.00%, 08/01/23 (SAW) |
35 | 37,867 | ||||||
City of Richmond VA Public Utility Revenue RB, 5.00%, 01/15/23 |
175 | 185,093 |
Security | Par (000) |
Value | ||||||
Virginia (continued) |
||||||||
Commonwealth of Virginia GO |
||||||||
Series B, 4.00%, 06/01/23 |
$ | 500 | $ | 529,770 | ||||
Series B, 5.00%, 06/01/23 |
100 | 107,531 | ||||||
County of Chesterfield VA Water & Sewer Revenue RB, 5.00%, 11/01/23 |
70 | 76,613 | ||||||
County of Fairfax VA GO |
||||||||
Series A, 5.00%, 10/01/23 (SAW) |
700 | 763,747 | ||||||
Series B, 5.00%, 04/01/23 (SAW) |
75 | 80,067 | ||||||
Series B, 5.00%, 10/01/23 (SAW) |
625 | 681,917 | ||||||
County
of Henrico VA GO |
100 | 108,301 | ||||||
Series A, 5.00%, 08/01/23 |
165 | 178,696 | ||||||
County of Loudoun VA GO |
||||||||
Series A, 5.00%, 12/01/23 |
140 | 153,813 | ||||||
Series A, 5.00%, 12/01/23 (SAW) |
600 | 659,200 | ||||||
County of Prince William VA COP, 5.00%, 10/01/23 |
120 | 130,614 | ||||||
County of Prince William VA GO, 5.00%, 08/01/23 (SAW) |
100 | 108,283 | ||||||
Fairfax County Water Authority RB, 5.00%, 04/01/23 |
515 | 549,945 | ||||||
Hampton Roads Sanitation District RB, Series A, 5.00%, 07/01/23 |
500 | 539,582 | ||||||
Town of Leesburg VA GO, 5.00%, 01/15/23 (SAW) |
125 | 132,241 | ||||||
Virginia College Building Authority RB |
||||||||
Series A, 5.00%, 02/01/23 |
385 | 408,059 | ||||||
Series A, 5.00%, 09/01/23 |
40 | 43,481 | ||||||
Series A, 5.00%, 02/01/28 (PR 02/01/24) |
1,025 | 1,086,124 | ||||||
Series E-1, 5.00%, 02/01/23 |
295 | 312,669 | ||||||
Series E-2, 5.00%, 02/01/23 |
555 | 588,241 | ||||||
Virginia
Commonwealth Transportation Board RB |
765 | 821,157 | ||||||
5.00%, 09/15/23 |
115 | 125,169 | ||||||
5.00%, 09/15/23 (PR 03/15/23) |
1,100 | 1,171,921 | ||||||
Series A, 5.00%, 05/15/23 |
180 | 193,213 | ||||||
Series C, 5.00%, 05/15/23 |
90 | 96,607 | ||||||
Virginia Public Building Authority RB |
||||||||
Series C, 5.00%, 08/01/23 |
415 | 449,449 | ||||||
Series A, 4.00%, 08/01/23 |
145 | 154,510 | ||||||
Series A, 5.00%, 08/01/23 |
290 | 314,072 | ||||||
Series A, 5.00%, 08/01/26 (PR 08/01/24) |
220 | 238,221 | ||||||
Series B, 5.00%, 08/01/23 |
700 | 758,106 | ||||||
Virginia
Public School Authority RB |
150 | 159,550 | ||||||
5.00%, 07/15/23 (SAW) |
45 | 48,595 | ||||||
5.00%, 08/01/23 (SAW) |
390 | 422,087 | ||||||
Series B, 5.00%, 08/01/23 |
100 | 108,227 | ||||||
Series A, 5.00%, 08/01/23 (SAW) |
240 | 259,745 | ||||||
Series B, 5.00%, 08/01/23 (SAW) |
125 | 135,284 | ||||||
Series VI, 5.00%, 04/15/23 |
155 | 165,658 | ||||||
Virginia Resources Authority Clean Water Revolving Fund RB, 5.00%, 10/01/23 |
415 | 452,374 | ||||||
Virginia Resources Authority RB |
||||||||
Series A, 4.00%, 11/01/23 |
100 | 107,394 | ||||||
Series A, 5.00%, 11/01/23 |
80 | 87,507 | ||||||
Series B, 5.00%, 11/01/23 |
200 | 218,768 | ||||||
Series S, 5.00%, 11/01/23 |
390 | 426,598 | ||||||
|
|
|||||||
16,196,289 | ||||||||
Washington — 4.8% |
||||||||
City
of Seattle WA Drainage & Wastewater
Revenue RB |
100 | 106,756 | ||||||
5.00%, 07/01/23 |
50 | 53,958 | ||||||
City of Seattle WA GO, 5.00%, 12/01/23 |
100 | 109,823 |
SCHEDULE OF INVESTMENTS |
57 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Washington (continued) | ||||||||
City of Seattle WA GOL |
||||||||
Series A, 5.00%, 04/01/23 |
$ | 445 | $ | 475,130 | ||||
Series A, 5.00%, 06/01/23 |
100 | 107,547 | ||||||
Series A, 5.00%, 11/01/23 |
100 | 109,447 | ||||||
City
of Seattle WA Municipal Light & Power Revenue RB |
230 | 249,885 | ||||||
Series B, 5.00%, 04/01/23 |
350 | 373,543 | ||||||
Series C, 5.00%, 09/01/23 |
290 | 315,072 | ||||||
Series C, 5.00%, 10/01/23 |
195 | 212,601 | ||||||
City
of Seattle WA Water System Revenue RB, |
235 | 251,789 | ||||||
City of Spokane WA Water & Wastewater Revenue RB, 5.00%, 12/01/23 |
390 | 428,051 | ||||||
City
of Tacoma WA Electric System Revenue RB, |
205 | 216,424 | ||||||
Clark County Public Utility District No. 1 RB, Series 1, 5.00%, 01/01/23 |
235 | 248,039 | ||||||
Clark
County School District No. 117 Camas GO, |
115 | 126,296 | ||||||
County
of King WA GOL |
480 | 517,663 | ||||||
5.25%, 01/01/23 |
115 | 121,701 | ||||||
Series B, 5.00%, 12/01/23 |
165 | 181,207 | ||||||
Series E, 5.00%, 12/01/23 |
165 | 181,207 | ||||||
County
of King WA Sewer Revenue RB, Series B, |
400 | 431,386 | ||||||
County of Snohomish WA GOL, 5.00%, 12/01/23 |
25 | 27,428 | ||||||
Energy
Northwest RB |
110 | 118,670 | ||||||
Series A, 4.00%, 07/01/23 |
150 | 159,333 | ||||||
Series A, 5.00%, 07/01/23 |
1,310 | 1,413,248 | ||||||
Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project RB, Series A, 5.00%, 01/01/23 |
|
250 |
|
|
263,933 |
| ||
King
County School District No. 216 Enumclaw GO, |
50 | 54,801 | ||||||
King
County School District No. 401 Highline GO, |
25 | 27,412 | ||||||
King
County School District No. 403 Renton GO, |
125 | 137,196 | ||||||
King
County School District No. 405 Bellevue GO, |
710 | 779,741 | ||||||
King
County School District No. 411 Issaquah GO, |
255 | 279,880 | ||||||
King
County School District No. 415 Kent GO, |
90 | 98,741 | ||||||
Pierce
County School District No. 320 Sumner GO, |
175 | 192,036 | ||||||
Pierce
County School District No. 403 Bethel GO, |
65 | 69,841 | ||||||
Pierce County School District No. 416 White River GO, 5.00%, 12/01/23 (GTD) |
70 | 76,876 | ||||||
Port
of Seattle WA GOL |
55 | 58,058 | ||||||
5.00%, 06/01/23 |
250 | 268,744 | ||||||
Port of Seattle WA RB, Series B, 5.00%, 03/01/23 |
70 | 74,437 | ||||||
Port of Tacoma WA GOL, Series A, 5.00%, 12/01/23 |
180 | 197,562 | ||||||
Port of Tacoma WA RB, Series A, 4.00%, 12/01/23 |
125 | 134,415 | ||||||
Skagit County School District No. 103 Anacortes GO, 5.00%, 12/01/23 (GTD) |
25 | 27,401 |
Security | Par (000) |
Value | ||||||
Washington (continued) | ||||||||
Snohomish County School District No. 15 Edmonds GO, 4.00%, 12/01/23 (GTD) |
$ | 20 | $ | 21,528 | ||||
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/23 (GTD) |
165 | 181,026 | ||||||
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/23 (GTD) |
140 | 153,383 | ||||||
Snohomish County School District No. 6 Mukilteo GO, 5.00%, 12/01/23 (GTD) |
245 | 268,958 | ||||||
Spokane & Whitman Counties School District No. 360 Cheney GO, 5.00%, 12/01/23 (GTD) |
100 | 109,735 | ||||||
State of Washington COP |
||||||||
Series A, 5.00%, 07/01/23 |
455 | 490,226 | ||||||
Series B, 5.00%, 07/01/23 |
235 | 253,194 | ||||||
State of Washington GO |
||||||||
Series C, 5.00%, 02/01/23 |
350 | 370,917 | ||||||
Series A, 5.00%, 08/01/23 |
420 | 454,863 | ||||||
Series B, 5.00%, 07/01/23 |
530 | 571,957 | ||||||
Series B, 5.00%, 08/01/23 |
185 | 200,357 | ||||||
Series C, 5.00%, 02/01/23 |
250 | 264,941 | ||||||
Series C, 5.50%, 07/01/23 |
90 | 95,575 | ||||||
Series D, 5.00%, 02/01/23 |
210 | 222,550 | ||||||
Series E, 5.00%, 06/01/23 |
100 | 107,531 | ||||||
Series E, 5.25%, 02/01/23 |
150 | 159,431 | ||||||
Series R, 4.00%, 07/01/23 |
90 | 95,631 | ||||||
Series R, 5.00%, 07/01/23 |
120 | 129,500 | ||||||
Series R-2015, 5.00%, 07/01/23 |
300 | 323,749 | ||||||
Series R-2017A, 5.00%, 08/01/23 |
215 | 232,847 | ||||||
Series R-2018D, 5.00%, 08/01/23 |
100 | 108,301 | ||||||
Series R-C, 5.00%, 07/01/23 |
375 | 404,687 | ||||||
State of Washington RB, Series C, 5.00%, 09/01/23 |
525 | 570,187 | ||||||
University of Washington RB |
||||||||
Series A, 4.00%, 12/01/23 |
165 | 177,786 | ||||||
Series B, 4.00%, 06/01/23 |
185 | 196,015 | ||||||
Series C, 5.00%, 12/01/23 |
215 | 236,119 | ||||||
Washington
State University RB |
315 | 335,353 | ||||||
5.00%, 10/01/23 |
120 | 130,396 | ||||||
Yakima County School District No. 90 East Valley GO, 5.00%, 12/01/23 (GTD) |
15 | 16,440 | ||||||
|
|
|||||||
16,160,461 | ||||||||
West Virginia — 0.5% | ||||||||
State of West Virginia GO |
||||||||
Series A, 5.00%, 06/01/23 |
625 | 672,068 | ||||||
Series A, 5.00%, 11/01/23 |
55 | 60,196 | ||||||
Series A, 5.00%, 12/01/23 |
100 | 109,757 | ||||||
Series B, 5.00%, 06/01/23 |
125 | 134,414 | ||||||
West Virginia Parkways Authority RB, 5.00%, 06/01/23 |
260 | 279,580 | ||||||
West Virginia State School Building Authority Lottery RB, Series A, 5.00%, 07/01/23 |
150 | 161,482 | ||||||
West Virginia Water Development Authority RB |
||||||||
Series A, 5.00%, 07/01/23 |
100 | 107,759 | ||||||
Series A-II, 5.00%, 11/01/23 |
80 | 87,221 | ||||||
|
|
|||||||
1,612,477 | ||||||||
Wisconsin — 3.9% | ||||||||
City of Madison WI GO, Series A, 4.00%, 10/01/23 |
425 | 455,423 | ||||||
City of Madison WI Water Utility Revenue RB, 5.00%, 01/01/23 |
50 | 52,792 | ||||||
City of Milwaukee WI GO, Series N1, 5.00%, 02/01/23 |
270 | 285,856 |
58 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Wisconsin (continued) |
||||||||
Milwaukee County Metropolitan Sewer District GO, Series A, 5.00%, 10/01/23 |
$ | 370 | $ | 403,247 | ||||
State
of Wisconsin Clean Water Fund Leveraged Loan Portfolio RB |
||||||||
Series 1, 5.00%, 06/01/24 (PR 06/01/23) |
1,490 | 1,600,730 | ||||||
Series 2, 5.00%, 06/01/23 |
115 | 123,560 | ||||||
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/23 |
|
930 |
|
|
999,729 |
| ||
State of Wisconsin GO |
||||||||
5.00%, 11/01/23 |
430 | 470,170 | ||||||
Series D, 5.00%, 05/01/23 |
360 | 385,832 | ||||||
Series 1, 5.00%, 05/01/23 |
450 | 482,290 | ||||||
Series 1, 5.00%, 11/01/23 |
320 | 349,894 | ||||||
Series 2, 5.00%, 11/01/23 |
255 | 278,822 | ||||||
Series A, 5.00%, 05/01/23 |
100 | 107,175 | ||||||
Series A, 5.00%, 05/01/28 (PR 05/01/23) |
1,000 | 1,071,285 | ||||||
Series A, 5.00%, 05/01/29 (PR 05/01/23) |
2,000 | 2,142,571 | ||||||
Series B, 4.00%, 05/01/23 |
55 | 58,125 | ||||||
Series C, 5.00%, 05/01/23 |
40 | 42,870 | ||||||
State of Wisconsin RB, Series A, 5.00%, 05/01/23 |
400 | 428,577 | ||||||
Wisconsin Department of Transportation RB |
||||||||
Series 1, 4.00%, 07/01/23 |
95 | 100,944 | ||||||
Series 1, 5.00%, 07/01/23 |
350 | 377,708 | ||||||
Series 1, 5.00%, 07/01/26 (PR 07/01/23) |
645 | 695,498 | ||||||
Series 1, 5.00%, 07/01/27 (PR 01/01/24) |
640 | 690,553 | ||||||
Series 1, 5.00%, 07/01/30 (PR 07/01/24) |
240 | 258,957 | ||||||
Series 2, 5.00%, 07/01/23 |
255 | 275,186 | ||||||
Series A, 5.00%, 07/01/23 |
575 | 620,519 |
Security | Par/ Shares (000) |
Value | ||||||
Wisconsin (continued) |
||||||||
Wisconsin Health & Educational Facilities Authority RB |
||||||||
5.00%, 08/15/23 |
$ | 115 | $ | 124,536 | ||||
Series A, 5.00%, 11/15/23 |
40 | 43,840 | ||||||
WPPI Energy RB, Series A, 5.00%, 07/01/23 |
230 | 247,006 | ||||||
|
|
|||||||
13,173,695 | ||||||||
|
|
|||||||
Total Municipal Debt Obligations — 98.7% |
||||||||
(Cost: $326,556,278) |
331,878,726 | |||||||
|
|
|||||||
Short-Term Investments |
||||||||
Money Market Funds — 0.1% |
||||||||
BlackRock Liquidity Funds: MuniCash, 0.01%(c)(d) |
424 | 423,667 | ||||||
|
|
|||||||
Total Short-Term Investments — 0.1% |
||||||||
(Cost: $423,667) |
423,667 | |||||||
|
|
|||||||
Total Investments in Securities — 98.8% |
||||||||
(Cost: $326,979,945) |
332,302,393 | |||||||
Other Assets, Less Liabilities — 1.2% |
4,172,331 | |||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 336,474,724 | ||||||
|
|
(a) |
Zero-coupon bond. |
(b) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
(c) |
Affiliate of the Fund. |
(d) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 190,614 | $ | 232,806 | (a) | $ | — | $ | 247 | $ | — | $ | 423,667 | 424 | $ | 55 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 331,878,726 | $ | — | $ | 331,878,726 | ||||||||
Money Market Funds |
423,667 | — | — | 423,667 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 423,667 | $ | 331,878,726 | $ | — | $ | 332,302,393 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULE OF INVESTMENTS |
59 |
Schedule of Investments October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations |
| |||||||
Alabama — 0.9% |
| |||||||
Alabama Federal Aid Highway Finance Authority RB |
||||||||
Series A, 5.00%, 09/01/24 |
$ | 195 | $ | 220,550 | ||||
Series B, 5.00%, 09/01/24 |
470 | 531,583 | ||||||
Alabama Public School & College Authority RB |
||||||||
Series A, 5.00%, 02/01/24 |
25 | 27,636 | ||||||
Series A, 5.00%, 05/01/24 |
75 | 83,738 | ||||||
Series B, 5.00%, 01/01/24 |
320 | 352,556 | ||||||
Series C, 5.00%, 06/01/24 |
100 | 112,016 | ||||||
Auburn University RB, Series B, 5.00%, 06/01/24 |
90 | 100,691 | ||||||
City of Huntsville AL GO, Series A, 5.00%, 08/01/24 |
15 | 16,907 | ||||||
County of Mobile AL GOL, Series A, 5.00%, 06/01/24 |
50 | 55,953 | ||||||
State of Alabama GO |
||||||||
Series A, 5.00%, 08/01/24 |
235 | 264,737 | ||||||
Series A, 5.00%, 11/01/24 |
90 | 102,350 | ||||||
Series C, 5.00%, 08/01/24 |
100 | 112,654 | ||||||
University of Alabama (The) RB, Series A, 5.00%, 07/01/24 |
130 | 145,835 | ||||||
|
|
|||||||
2,127,206 | ||||||||
Alaska — 0.2% | ||||||||
State of Alaska GO, Series B, 5.00%, 08/01/24 |
405 | 455,773 | ||||||
|
|
|||||||
Arizona — 2.6% | ||||||||
Arizona Board of Regents COP, Series A, 5.00%, 06/01/24 |
100 | 111,741 | ||||||
Arizona State University RB |
||||||||
Series B, 5.00%, 07/01/24 |
155 | 174,101 | ||||||
Series C, 5.00%, 07/01/24 |
65 | 73,010 | ||||||
Arizona Transportation Board RB, 5.00%, 07/01/24 |
335 | 376,064 | ||||||
Arizona Water Infrastructure Finance Authority RB, Series A, 5.00%, 10/01/24 |
245 | 277,828 | ||||||
City of Peoria AZ GOL, Series B, 5.00%, 07/15/24 |
225 | 253,105 | ||||||
City
of Phoenix AZ GO |
565 | 619,499 | ||||||
5.00%, 07/01/24 |
145 | 162,827 | ||||||
City
of Phoenix Civic Improvement Corp. RB |
415 | 466,130 | ||||||
Series A, 5.00%, 07/01/24 |
435 | 488,468 | ||||||
Series B, 5.00%, 07/01/24 |
705 | 791,950 | ||||||
Series D, 5.00%, 07/01/24 |
195 | 218,642 | ||||||
City of Scottsdale AZ GOL, 4.00%, 07/01/24 |
280 | 307,322 | ||||||
City of Tucson AZ COP, 5.00%, 07/01/24 (AGM) |
85 | 94,705 | ||||||
City of Tucson AZ Water System Revenue RB, 5.00%, 07/01/24 |
70 | 78,586 | ||||||
County of Pima AZ Sewer System Revenue RB, 5.00%, 07/01/24 |
250 | 280,665 | ||||||
Maricopa County Unified School District No. 97-Deer Valley/AZ GO, 4.00%, 07/01/24 |
20 | 21,896 | ||||||
Maricopa
County Union High School District No. 210-Phoenix GO |
50 | 56,176 | ||||||
Series C, 3.00%, 07/01/24 |
165 | 176,636 | ||||||
Regional Public Transportation Authority RB, 5.25%, 07/01/24 . |
210 | 237,149 | ||||||
Salt River Project Agricultural Improvement & Power District RB, 5.00%, 01/01/24 |
300 | 330,590 | ||||||
State
of Arizona COP |
335 | 378,386 | ||||||
5.00%, 10/01/24 |
160 | 181,379 |
Security | Par (000) |
Value | ||||||
Arizona (continued) | ||||||||
University of Arizona (The) RB |
||||||||
Series A, 5.00%, 06/01/24 |
$ | 50 | $ | 55,981 | ||||
Series B, 5.00%, 06/01/24 |
150 | 167,942 | ||||||
|
|
|||||||
6,380,778 | ||||||||
Arkansas — 0.4% | ||||||||
State
of Arkansas GO |
600 | 655,390 | ||||||
5.00%, 04/01/24 |
195 | 216,954 | ||||||
|
|
|||||||
872,344 | ||||||||
California — 11.5% | ||||||||
Allan
Hancock Joint Community College District/CA GO |
205 | 231,483 | ||||||
5.00%, 08/01/24 (ETM) |
10 | 11,272 | ||||||
Beverly
Hills Unified School District CA GO |
655 | 647,559 | ||||||
4.00%, 08/01/24 |
75 | 82,638 | ||||||
California Educational Facilities Authority RB, 0.00%, 10/01/24(a) |
160 | 156,811 | ||||||
California Health Facilities Financing Authority RB, Series A, 5.00%, 11/15/24 |
135 | 153,777 | ||||||
California
Infrastructure & Economic Development Bank RB |
415 | 471,256 | ||||||
Series A, 5.00%, 10/01/24 |
355 | 403,434 | ||||||
California State Public Works Board RB |
||||||||
Series A, 5.00%, 06/01/24 |
75 | 83,930 | ||||||
Series A, 5.00%, 09/01/24 |
250 | 282,454 | ||||||
Series B, 5.00%, 10/01/24 |
410 | 464,681 | ||||||
Series C, 5.00%, 03/01/24 |
100 | 110,816 | ||||||
Series D, 5.00%, 09/01/24 |
145 | 163,823 | ||||||
Series F, 5.00%, 05/01/24 |
135 | 150,586 | ||||||
Series G, 5.00%, 05/01/24 |
120 | 133,854 | ||||||
Series H, 5.00%, 12/01/24 |
65 | 74,115 | ||||||
Serise A, 5.00%, 03/01/24 |
145 | 160,684 | ||||||
California State University RB |
||||||||
Series A, 4.00%, 11/01/24 |
65 | 72,087 | ||||||
Series A, 5.00%, 11/01/24 |
495 | 563,720 | ||||||
Serise A, 4.00%, 11/01/24 |
150 | 166,355 | ||||||
Cerritos Community College District GO, Series D, 0.00%, 08/01/24(a) |
125 | 122,837 | ||||||
City of Los Angeles CA Wastewater System Revenue RB, Series A, 5.00%, 06/01/24 |
85 | 95,237 | ||||||
City of Los Angeles Department of Airports RB |
||||||||
Series B, 5.00%, 05/15/24 |
265 | 296,040 | ||||||
Series C, 5.00%, 05/15/24 |
140 | 156,399 | ||||||
City of Petaluma CA Wastewater Revenue RB, 5.00%, 05/01/24 |
130 | 145,147 | ||||||
City
of San Francisco CA Public Utilities Commission Water Revenue RB |
130 | 144,174 | ||||||
5.00%, 11/01/24 |
240 | 273,318 | ||||||
Series D, 5.00%, 11/01/24 |
15 | 17,082 | ||||||
Coast Community College District GO, Series D, 5.00%, 08/01/24 |
80 | 90,335 | ||||||
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/24 |
45 | 49,934 | ||||||
Eastern Municipal Water District RB, Series A, 5.00%, 07/01/24 |
225 | 253,047 | ||||||
Escondido Union High School District GO, Series A, 0.00%, 08/01/24 (AGC)(a) |
255 | 251,276 |
60 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Evergreen School District GO, 0.00%, 08/01/24 (AGC)(a) |
$ | 100 | $ | 98,458 | ||||
Foothill-De Anza Community College
District GO |
110 | 121,170 | ||||||
5.00%, 08/01/24 |
195 | 220,134 | ||||||
Grossmont
Union High School District GO |
150 | 169,113 | ||||||
Series 2004, 0.00%, 08/01/24 (NPFGC)(a) |
425 | 417,533 | ||||||
Long Beach Community College District GO |
||||||||
Series D, 0.00%, 05/01/24 (NPFGC)(a) |
170 | 167,340 | ||||||
Series F, 5.00%, 06/01/24 |
185 | 207,281 | ||||||
Los Angeles Community College District/CA GO, Series C, 5.00%, 08/01/24 |
290 | 327,293 | ||||||
Los
Angeles County Metropolitan Transportation Authority RB |
110 | 123,775 | ||||||
Series A, 5.00%, 06/01/24 |
630 | 706,295 | ||||||
Series A, 5.00%, 07/01/24 |
345 | 388,005 | ||||||
Los Angeles County Sanitation Districts Financing Authority RB, Series A, 5.00%, 10/01/24 |
195 | 221,617 | ||||||
Los
Angeles Department of Water & Power Power System Revenue
RB |
355 | 398,883 | ||||||
Series B, 5.00%, 07/01/24 |
580 | 651,594 | ||||||
Series C, 5.00%, 07/01/24 |
105 | 117,939 | ||||||
Serise A, 5.00%, 07/01/24 |
80 | 89,950 | ||||||
Los Angeles Unified School District/CA GO |
||||||||
Series A, 5.00%, 07/01/24 |
1,185 | 1,330,691 | ||||||
Series B, 5.00%, 07/01/24 |
210 | 235,819 | ||||||
Series C, 5.00%, 07/01/24 |
485 | 544,629 | ||||||
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/24 |
100 | 113,883 | ||||||
North Orange County Community College District/CA GO, Series B, 0.00%, 08/01/24 (NPFGC)(a) |
120 | 117,988 | ||||||
Pajaro Valley Unified School District GO, Series B, 0.00%, 08/01/24 (AGM)(a) |
100 | 98,485 | ||||||
Pasadena Unified School District GO, Series B, 5.00%, 08/01/24 |
30 | 33,831 | ||||||
Placer Union High School District/CA GO, Series A, 0.00%, 08/01/24 (NPFGC)(a) |
25 | 24,541 | ||||||
Port of Los Angeles RB, Series A, 5.00%, 08/01/24 |
15 | 16,876 | ||||||
Poway
Unified School District GO, Series A, |
50 | 49,189 | ||||||
Riverside County Transportation Commission RB, Series B, 5.00%, 06/01/24 |
100 | 111,824 | ||||||
Sacramento
Municipal Utility District RB, Series E, |
200 | 225,940 | ||||||
Salinas Union High School District GO, Series A, 0.00%, 10/01/24 (NPFGC)(a) |
20 | 19,607 | ||||||
San
Diego Community College District GO, |
360 | 405,977 | ||||||
San Diego Unified School District/CA GO |
||||||||
Series A, 0.00%, 07/01/24(a) |
440 | 434,747 | ||||||
Series A, 0.00%, 07/01/24 (ETM)(a) |
160 | 157,670 | ||||||
Series C-2, 5.50%, 07/01/24 (AGM) |
255 | 290,167 | ||||||
Series D-1, 5.50%, 07/01/24 (NPFGC) |
395 | 449,475 | ||||||
Series R-4, 5.00%, 07/01/24 |
185 | 208,061 | ||||||
San
Francisco Bay Area Rapid Transit District Sales Tax Revenue RB, Series
A, |
235 | 263,759 | ||||||
San
Francisco City & County Airport Commission San Francisco
International Airport RB, Series D, |
170 | 189,401 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
San Francisco City & County Public Utilities Commission Wastewater Revenue RB, Series A, 5.00%, 10/01/24 |
$ | 155 | $ | 175,963 | ||||
San
Jose Unified School District GO, |
235 | 265,359 | ||||||
San
Marcos Unified School District GO, |
40 | 39,340 | ||||||
San Mateo County Community College District GO, Series B, 0.00%, 09/01/24 (NPFGC)(a) |
120 | 118,335 | ||||||
San
Mateo Union High School District GO, |
210 | 231,543 | ||||||
San
Ramon Valley Unified School District/CA GO, |
85 | 95,781 | ||||||
Santa Clara County Financing Authority RB, Serise A, 5.00%, 11/15/24 |
445 | 507,913 | ||||||
Santa Clara Valley Transportation Authority RB, Series A, 5.00%, 06/01/24 |
150 | 168,148 | ||||||
Santa
Clara Valley Water District COP, Series C, |
225 | 252,409 | ||||||
Southern
California Public Power Authority RB |
80 | 89,927 | ||||||
Series C, 5.00%, 07/01/24 |
300 | 337,225 | ||||||
State
of California Department of Water Resources RB |
245 | 280,087 | ||||||
Series AR, 5.00%, 12/01/24 (PR 06/01/24) |
35 | 39,244 | ||||||
Series AS, 5.00%, 12/01/24 |
410 | 468,716 | ||||||
Series AV, 5.00%, 12/01/24 |
55 | 62,877 | ||||||
Series AW, 5.00%, 12/01/24 |
105 | 120,037 | ||||||
Series BA, 5.00%, 12/01/24 |
170 | 194,346 | ||||||
State
of California GO |
110 | 121,588 | ||||||
4.00%, 11/01/24 |
55 | 60,945 | ||||||
5.00%, 03/01/24 |
425 | 471,286 | ||||||
5.00%, 04/01/24 |
550 | 611,921 | ||||||
5.00%, 05/01/24 |
500 | 558,123 | ||||||
5.00%, 08/01/24 |
380 | 428,308 | ||||||
5.00%, 09/01/24 |
995 | 1,125,070 | ||||||
5.00%, 10/01/24 |
775 | 879,087 | ||||||
5.00%, 11/01/24 |
645 | 733,920 | ||||||
Series A, 5.00%, 10/01/24 |
175 | 198,503 | ||||||
Series B, 5.00%, 08/01/24 |
325 | 366,316 | ||||||
Series B, 5.00%, 09/01/24 |
880 | 995,036 | ||||||
Sunnyvale
Elementary School District GO, |
150 | 170,018 | ||||||
University of California RB |
||||||||
Series AM, 5.00%, 05/15/24 |
140 | 156,626 | ||||||
Series AO, 5.00%, 05/15/24 |
440 | 492,252 | ||||||
Series AR, 4.00%, 05/15/24 |
300 | 328,052 | ||||||
Series AV, 5.00%, 05/15/24 |
170 | 190,188 | ||||||
Series AY, 5.00%, 05/15/24 |
160 | 179,001 | ||||||
William
S Hart Union High School District GO, |
125 | 122,871 | ||||||
|
|
|||||||
27,865,462 | ||||||||
Colorado — 0.8% | ||||||||
Board of Governors of Colorado State University System RB, Series E-2, 5.00%, 03/01/24 (NPFGC) |
150 | 166,039 | ||||||
City & County of Denver Co. Airport System Revenue RB, Series A, 5.00%, 11/15/24 |
110 | 125,049 | ||||||
Denver City & County School District No. 1 COP, Series A, 5.00%, 12/01/24 |
70 | 79,654 | ||||||
Denver
City & County School District No. 1 GO |
250 | 285,057 | ||||||
Series A, 5.50%, 12/01/24 (SAW) |
405 | 467,984 | ||||||
Series B, 5.00%, 12/01/24 (SAW) |
95 | 108,322 |
SCHEDULE OF INVESTMENTS |
61 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security |
(000) |
Value | ||||||
Colorado (continued) | ||||||||
E-470 Public Highway Authority RB,
Series B, |
$ | 25 | $ | 24,556 | ||||
Metro Wastewater Reclamation District RB, Series A, 5.00%, 04/01/24 |
215 | 239,206 | ||||||
University of Colorado RB |
||||||||
Series B-1, 5.00%, 06/01/24 |
170 | 190,428 | ||||||
Series
C, VRDN,2.00%, 06/01/54 |
250 | 260,706 | ||||||
|
|
|||||||
1,947,001 | ||||||||
Connecticut — 1.6% | ||||||||
State of Connecticut GO |
||||||||
Series A, 5.00%, 03/01/24 |
105 | 116,357 | ||||||
Series A, 5.00%, 03/15/24 |
190 | 210,875 | ||||||
Series B, 5.00%, 04/15/24 |
315 | 350,754 | ||||||
Series B, 5.00%, 05/15/24 |
235 | 262,526 | ||||||
Series D, 5.00%, 04/15/24 |
555 | 617,995 | ||||||
Series D, 5.00%, 06/15/24 |
85 | 95,263 | ||||||
Series D, 5.00%, 08/15/24 |
295 | 332,733 | ||||||
Series E, 5.00%, 09/15/24 |
130 | 147,091 | ||||||
Series E, 5.00%, 10/15/24 |
200 | 227,002 | ||||||
State of Connecticut Special Tax Revenue RB |
||||||||
Series A, 4.00%, 05/01/24 |
60 | 65,437 | ||||||
Series A, 5.00%, 08/01/24 |
415 | 467,392 | ||||||
Series A, 5.00%, 09/01/24 |
580 | 655,292 | ||||||
Series B, 5.00%, 08/01/24 |
400 | 450,498 | ||||||
|
|
|||||||
3,999,215 | ||||||||
Delaware — 1.0% | ||||||||
City of Wilmington DE GO, 4.00%, 12/01/24 |
100 | 111,063 | ||||||
County of New Castle DE GO, 5.00%, 10/01/24 |
225 | 255,430 | ||||||
Delaware Transportation Authority RB |
||||||||
4.00%, 07/01/24 |
335 | 367,501 | ||||||
5.00%, 07/01/24 |
805 | 904,429 | ||||||
State of Delaware GO |
||||||||
5.00%, 03/01/24 |
360 | 399,474 | ||||||
Series 2009C, 5.00%, 10/01/24 |
220 | 249,754 | ||||||
Series A, 5.00%, 10/01/24 |
100 | 113,524 | ||||||
Series B, 5.00%, 07/01/27 (PR 07/01/24) |
85 | 95,281 | ||||||
|
|
|||||||
2,496,456 | ||||||||
District of Columbia — 1.4% | ||||||||
District of Columbia GO |
||||||||
Series A, 4.00%, 06/01/24 |
55 | 60,182 | ||||||
Series A, 5.00%, 06/01/24 |
400 | 447,955 | ||||||
Series A, 5.00%, 10/15/24 |
120 | 136,316 | ||||||
Series B, 5.00%, 06/01/24 |
320 | 358,364 | ||||||
Series D, 5.00%, 06/01/24 |
490 | 548,745 | ||||||
District of Columbia RB |
||||||||
Series A, 5.00%, 12/01/24 |
460 | 524,962 | ||||||
Series C, 5.00%, 10/01/24 |
515 | 584,167 | ||||||
District of Columbia Water & Sewer Authority RB |
||||||||
Series A, 5.00%, 10/01/24 |
350 | 397,116 | ||||||
Series B, 5.00%, 10/01/24 |
340 | 385,771 | ||||||
Metropolitan Washington Airports Authority Aviation Revenue RB, Series B, 5.00%, 10/01/24 |
35 | 39,646 | ||||||
|
|
|||||||
3,483,224 | ||||||||
Florida — 3.5% | ||||||||
Central Florida Expressway Authority RB, 5.00%, 07/01/24 |
30 | 33,663 | ||||||
City of Jacksonville FL RB, Series B, 5.00%, 10/01/24 |
25 | 28,319 | ||||||
City of Tampa FL Water & Wastewater System Revenue RB, 5.00%, 10/01/24 |
25 | 28,373 |
Security |
(000) |
Value | ||||||
Florida (continued) | ||||||||
County of Hillsborough FL Community Investment Tax Revenue RB, 5.00%, 11/01/24 |
$ | 50 | $ | 56,317 | ||||
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/24 |
150 | 169,538 | ||||||
County of Miami-Dade FL GO |
||||||||
Series A, 5.00%, 07/01/24 |
305 | 342,385 | ||||||
Series B, 5.00%, 07/01/24 |
100 | 112,238 | ||||||
County of Miami-Dade FL Transit System RB, 5.00%, 07/01/24 |
150 | 167,718 | ||||||
County of Miami-Dade FL Water & Sewer System Revenue RB |
||||||||
5.00%, 10/01/24 |
450 | 509,454 | ||||||
Series B, 5.00%, 10/01/24 |
130 | 147,176 | ||||||
County of Sarasota FL RB, 5.00%, 10/01/24 |
45 | 50,889 | ||||||
Florida Department of Environmental Protection RB |
||||||||
5.00%, 07/01/24 |
295 | 331,269 | ||||||
Series A, 5.00%, 07/01/24 |
590 | 662,538 | ||||||
Florida Municipal Power Agency RB, Series A, 5.00%, 10/01/24 |
20 | 22,624 | ||||||
Florida State Development Commission RB, Series A, 5.00%, 07/01/24 |
100 | 111,699 | ||||||
Florida’s Turnpike Enterprise RB, Series A, 5.00%, 07/01/24 |
665 | 746,710 | ||||||
Hillsborough County School Board COP, Series A, 5.00%, 07/01/24 |
120 | 134,073 | ||||||
Lee County School Board (The) COP, 5.00%, 08/01/24 |
60 | 67,487 | ||||||
Miami-Dade County Expressway Authority RB, Series B, 5.00%, 07/01/24 |
280 | 311,968 | ||||||
Orange County Convention Center/Orlando RB, 5.00%, 10/01/24 |
190 | 214,452 | ||||||
Orange County School Board COP |
||||||||
Series B, 5.00%, 08/01/24 |
15 | 16,872 | ||||||
Series D, 5.00%, 08/01/24 |
50 | 56,239 | ||||||
Orlando Utilities Commission RB, Series A, 5.00%, 10/01/24 |
125 | 141,866 | ||||||
Palm Beach County School District COP, Series B, 5.00%, 08/01/24 |
280 | 315,020 | ||||||
Pasco County School Board COP, Series A, 5.00%, 08/01/24 |
60 | 67,276 | ||||||
Reedy Creek Improvement District GOL, Series A, 5.00%, 06/01/24 |
190 | 211,892 | ||||||
School Board of Miami-Dade County (The) COP |
||||||||
Series A, 5.00%, 05/01/24 |
315 | 350,031 | ||||||
Series D, 5.00%, 02/01/24 |
110 | 121,077 | ||||||
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/24 |
195 | 216,178 | ||||||
School District of Broward County/FL COP |
||||||||
Series A, 5.00%, 07/01/24 |
245 | 274,495 | ||||||
Series B, 5.00%, 07/01/24 |
20 | 22,408 | ||||||
Series C, 5.00%, 07/01/24 |
120 | 134,447 | ||||||
State of Florida Department of Transportation Turnpike System Revenue RB, Series A, 5.00%, 07/01/24 |
235 | 263,759 | ||||||
State of Florida GO |
||||||||
Seires E, 5.00%, 06/01/24 |
200 | 223,922 | ||||||
Series A, 5.00%, 01/01/24 |
195 | 214,749 | ||||||
Series A, 5.00%, 07/01/24 |
155 | 174,101 | ||||||
Series B, 5.00%, 06/01/24 |
225 | 251,913 | ||||||
Series F, 5.00%, 06/01/24 |
455 | 509,424 | ||||||
State of Florida Lottery Revenue RB |
||||||||
Series A, 5.00%, 07/01/24 |
340 | 381,705 | ||||||
Series B, 5.00%, 07/01/24 |
280 | 314,345 | ||||||
Volusia County School Board COP, Series A, 5.00%, 08/01/24 |
20 | 22,490 | ||||||
Volusia County School Board RB, 5.00%, 10/01/24 |
20 | 22,630 | ||||||
|
|
|||||||
8,555,729 |
62 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Georgia — 2.0% |
||||||||
City of Atlanta GA Airport Passenger Facility Charge RB, Series A, 5.00%, 01/01/24 |
$ | 695 | $ | 764,752 | ||||
City
of Atlanta GA Water & Wastewater Revenue RB |
575 | 654,455 | ||||||
Series B, 5.00%, 11/01/24 |
100 | 113,818 | ||||||
County of Forsyth GA GO, 5.00%, 09/01/24 |
280 | 316,857 | ||||||
Fayette County School District/GA GO, 5.25%, 09/01/24 (SAW) |
105 | 119,497 | ||||||
Georgia Ports Authority RB, 5.00%, 07/01/24 |
200 | 224,368 | ||||||
Gwinnett
County School District GO, |
100 | 110,569 | ||||||
Gwinnett County Water & Sewerage Authority RB, 5.00%, 08/01/24 |
500 | 563,563 | ||||||
Metropolitan Atlanta Rapid Transit Authority RB, Series A, 4.00%, 07/01/24 |
195 | 213,755 | ||||||
State of Georgia GO |
||||||||
Series A, 5.00%, 02/01/24 |
175 | 193,413 | ||||||
Series A-1, 5.00%, 02/01/24 |
155 | 171,308 | ||||||
Series A-1, 5.00%, 08/01/24 |
165 | 186,073 | ||||||
Series C, 5.00%, 07/01/24 |
220 | 247,298 | ||||||
Series C-1, 5.00%, 01/01/24 |
135 | 148,704 | ||||||
Series C-1, 5.00%, 07/01/24 |
375 | 421,532 | ||||||
Series E, 5.00%, 12/01/24 |
320 | 365,403 | ||||||
Series F, 5.00%, 01/01/24 |
100 | 110,151 | ||||||
|
|
|||||||
4,925,516 | ||||||||
Hawaii — 1.4% |
||||||||
City &
County Honolulu HI Wastewater System Revenue RB |
480 | 538,402 | ||||||
Series B, 5.00%, 07/01/24 |
170 | 190,852 | ||||||
City & County of Honolulu HI GO |
||||||||
Series A, 5.00%, 09/01/24 |
430 | 486,081 | ||||||
Series A, 5.00%, 10/01/24 |
75 | 85,049 | ||||||
Series B, 5.00%, 10/01/24 |
90 | 102,059 | ||||||
Series C, 5.00%, 10/01/24 |
70 | 79,380 | ||||||
Series D, 5.00%, 09/01/24 |
150 | 169,563 | ||||||
County of Hawaii HI GO |
||||||||
Series A, 5.00%, 09/01/24 |
115 | 129,929 | ||||||
Series B, 4.00%, 09/01/24 |
20 | 22,034 | ||||||
County of Maui HI GO, 5.00%, 09/01/24 |
35 | 39,596 | ||||||
State of Hawaii GO |
||||||||
Series EO, 5.00%, 08/01/24 |
40 | 45,073 | ||||||
Series ET, 5.00%, 10/01/24 |
135 | 153,089 | ||||||
Series EZ, 5.00%, 10/01/24 |
440 | 498,957 | ||||||
Series FE, 5.00%, 10/01/24 |
345 | 391,228 | ||||||
Series FH, 5.00%, 10/01/24 |
115 | 130,409 | ||||||
Series FN, 5.00%, 10/01/24 |
35 | 39,690 | ||||||
State of Hawaii State Highway Fund RB, Series B, 5.00%, 01/01/24 |
210 | 231,269 | ||||||
|
|
|||||||
3,332,660 | ||||||||
Idaho — 0.1% | ||||||||
Idaho
Housing & Finance Association RB |
135 | 151,396 | ||||||
Series A, 5.00%, 07/15/24 |
25 | 28,036 | ||||||
|
|
|||||||
179,432 | ||||||||
Illinois — 2.4% | ||||||||
Chicago O’Hare International Airport, Series B, 5.00%, 01/01/24 |
130 | 142,809 | ||||||
Chicago O’Hare International Airport RB |
||||||||
Series B, 5.00%, 01/01/24 |
160 | 175,765 | ||||||
Series C, 5.00%, 01/01/24 |
255 | 280,126 |
Security | Par (000) |
Value | ||||||
Illinois (continued) |
||||||||
Series D, 5.00%, 01/01/24 |
$ | 145 | $ | 159,288 | ||||
Series E, 5.00%, 01/01/24 |
175 | 192,243 | ||||||
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/24 |
125 | 139,197 | ||||||
Illinois
Finance Authority RB |
100 | 109,991 | ||||||
5.00%, 07/01/24 |
650 | 728,991 | ||||||
Series A, 5.00%, 10/01/24 |
305 | 345,677 | ||||||
Illinois
State Toll Highway Authority RB |
100 | 109,876 | ||||||
Series D, 5.00%, 01/01/24 |
195 | 214,259 | ||||||
State
of Illinois GO |
475 | 521,396 | ||||||
5.00%, 04/01/24 |
105 | 115,915 | ||||||
5.00%, 05/01/24 |
700 | 774,937 | ||||||
Series A, 4.00%, 05/01/24 |
245 | 265,171 | ||||||
Series A, 5.00%, 03/01/24 |
130 | 143,108 | ||||||
Series A, 5.00%, 10/01/24 |
65 | 72,977 | ||||||
Series A, 5.00%, 11/01/24 |
250 | 281,427 | ||||||
Series A, 5.00%, 12/01/24 |
50 | 56,419 | ||||||
Series B, 5.00%, 12/01/24 |
125 | 141,048 | ||||||
Series D, 5.00%, 11/01/24 |
400 | 450,283 | ||||||
State of Illinois RB |
||||||||
Series C, 4.00%, 06/15/24 |
25 | 27,202 | ||||||
Series C, 5.00%, 06/15/24 |
200 | 222,809 | ||||||
Series D, 5.00%, 06/15/24 |
75 | 83,553 | ||||||
|
|
|||||||
5,754,467 | ||||||||
Indiana — 1.2% |
||||||||
Indiana Finance Authority RB |
||||||||
Series A, 5.00%, 02/01/24 |
295 | 326,249 | ||||||
Series A, 5.00%, 10/01/24 |
230 | 260,890 | ||||||
Series C, 5.00%, 12/01/24 |
550 | 628,219 | ||||||
Indiana Municipal Power Agency RB, Series C, 5.00%, 01/01/24 |
335 | 368,009 | ||||||
Indiana University RB |
||||||||
Series A, 5.00%, 06/01/24 |
60 | 67,144 | ||||||
Series W-2, 5.00%, 08/01/24 |
175 | 197,093 | ||||||
Series X, 5.00%, 08/01/24 |
160 | 180,199 | ||||||
Purdue University COP, Series A, 5.00%, 07/01/24 |
180 | 202,284 | ||||||
Purdue
University RB |
100 | 113,099 | ||||||
Series A, 5.00%, 07/01/24 |
200 | 224,760 | ||||||
Series DD, 5.00%, 07/01/24 |
280 | 314,664 | ||||||
|
|
|||||||
2,882,610 | ||||||||
Iowa — 0.3% | ||||||||
Iowa Finance Authority RB, 5.00%, 08/01/24 |
425 | 479,403 | ||||||
State
of Iowa RB |
100 | 112,018 | ||||||
Series A, 5.00%, 06/01/24 |
110 | 123,067 | ||||||
|
|
|||||||
714,488 | ||||||||
Kansas — 0.6% | ||||||||
City of Wichita KS Water & Sewer Utility Revenue RB, Series A, 5.00%, 10/01/24 |
200 | 226,611 | ||||||
Johnson County Unified School District No. 229 Blue Valley GO, Series B, 5.00%, 10/01/24 |
70 | 79,401 | ||||||
Johnson County Water District No. 1 RB, 5.00%, 01/01/24 |
35 | 38,569 | ||||||
Kansas Development Finance Authority RB, 5.00%, 05/01/24 |
400 | 446,074 | ||||||
Sedgwick County Unified School District No. 259 Wichita GO, Series A, 4.00%, 10/01/24 |
105 | 115,932 |
SCHEDULE OF INVESTMENTS |
63 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Kansas (continued) | ||||||||
State of Kansas Department of Transportation RB, Series A, 5.00%, 09/01/24 |
$ | 585 | $ | 660,764 | ||||
|
|
|||||||
1,567,351 | ||||||||
Kentucky — 0.1% |
||||||||
Louisville & Jefferson County Metropolitan Sewer District RB, 5.00%, 05/15/24 |
200 | 223,211 | ||||||
|
|
|||||||
Louisiana — 0.3% |
||||||||
State
of Louisiana GO |
185 | 206,505 | ||||||
Series A, 5.00%, 09/01/24 |
140 | 158,174 | ||||||
Series B, 5.00%, 05/01/24 |
25 | 27,893 | ||||||
Series C, 5.00%, 08/01/24 |
50 | 56,297 | ||||||
Series D-2, 5.00%, 12/01/24 |
150 | 170,985 | ||||||
State of Louisiana RB, 5.00%, 09/01/24 |
100 | 113,012 | ||||||
|
|
|||||||
732,866 | ||||||||
Maine — 0.8% |
||||||||
City of Portland ME GO, 5.00%, 10/01/24 |
140 | 158,672 | ||||||
Maine Municipal Bond Bank RB |
||||||||
Series A, 5.00%, 11/01/24 |
150 | 170,534 | ||||||
Series B, 5.00%, 11/01/24 |
110 | 125,058 | ||||||
Series C, 5.00%, 11/01/24 |
360 | 409,283 | ||||||
Series D, 5.00%, 11/01/24 |
75 | 85,267 | ||||||
Maine Turnpike Authority RB, 5.00%, 07/01/24 |
120 | 134,549 | ||||||
State of Maine GO, Series B, 5.00%, 06/01/24 |
770 | 862,102 | ||||||
|
|
|||||||
1,945,465 | ||||||||
Maryland — 4.4% |
||||||||
City of Baltimore MD RB, Series A, 5.00%, 07/01/24 |
95 | 106,599 | ||||||
County of Anne Arundel MD GOL, 5.00%, 10/01/24 |
585 | 663,934 | ||||||
County
of Baltimore MD GO |
100 | 110,569 | ||||||
5.00%, 03/01/24 |
400 | 443,761 | ||||||
5.00%, 08/01/24 |
225 | 253,736 | ||||||
County of Carroll MD GO, 5.00%, 11/01/24 |
225 | 256,164 | ||||||
County of Charles MD GO, 5.00%, 10/01/24 |
100 | 113,493 | ||||||
County
of Frederick MD GO, Series A, |
25 | 28,193 | ||||||
County of Howard MD GO |
||||||||
Series A, 5.00%, 02/15/24 |
120 | 132,889 | ||||||
Series A, 5.00%, 08/15/24 |
250 | 282,350 | ||||||
Series B, 5.00%, 02/15/24 |
50 | 55,371 | ||||||
Series C, 5.00%, 02/15/24 |
75 | 83,056 | ||||||
County of Montgomery MD GO |
||||||||
Series A, 4.00%, 11/01/31 (PR 11/01/24) |
1,000 | 1,108,399 | ||||||
Series A, 5.00%, 11/01/24 |
750 | 853,878 | ||||||
Series A, 5.00%, 12/01/24 |
125 | 142,736 | ||||||
Series A, 5.00%, 11/01/26 (PR 11/01/24) |
10 | 11,382 | ||||||
Series B, 5.00%, 06/01/24 |
205 | 229,690 | ||||||
Series B, 5.00%, 11/01/24 |
50 | 56,925 | ||||||
County of Prince George’s MD GOL |
||||||||
Series A, 4.00%, 09/01/24 |
390 | 430,241 | ||||||
Series A, 5.00%, 07/15/24 |
220 | 247,671 | ||||||
Series B, 5.00%, 07/15/24 |
225 | 253,300 | ||||||
State of Maryland Department of Transportation RB |
||||||||
4.00%, 09/01/24 |
235 | 259,318 | ||||||
5.00%, 05/01/24 |
205 | 228,994 | ||||||
5.00%, 09/01/24 |
205 | 231,985 | ||||||
5.00%, 10/01/24 |
305 | 346,249 | ||||||
5.00%, 11/01/24 |
235 | 267,624 |
Security | Par (000) |
Value | ||||||
Maryland (continued) | ||||||||
State of Maryland GO |
||||||||
First Series, 5.00%, 06/01/24 |
$ | 460 | $ | 515,402 | ||||
Series A, 5.00%, 03/15/24 |
250 | 277,781 | ||||||
Series A, 5.00%, 08/01/24 |
150 | 169,157 | ||||||
Series B, 4.00%, 08/01/24 |
200 | 220,078 | ||||||
Series B, 5.00%, 08/01/24 |
835 | 941,642 | ||||||
Series C-2, 5.00%, 08/01/24 |
535 | 603,327 | ||||||
Washington Suburban Sanitary Commission RB |
||||||||
4.00%, 06/01/24 |
90 | 98,528 | ||||||
5.00%, 06/01/24 |
555 | 621,844 | ||||||
5.00%, 06/15/24 (GTD) |
40 | 44,885 | ||||||
|
|
|||||||
10,691,151 | ||||||||
Massachusetts — 2.8% |
||||||||
City of Boston MA GO, Series D, 5.00%, 03/01/24 |
250 | 277,350 | ||||||
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue RB, Series A, 5.00%, 06/15/24 |
105 | 117,824 | ||||||
Commonwealth of Massachusetts GO |
||||||||
Series C, 5.00%, 10/01/24 |
100 | 113,462 | ||||||
Series C, 5.50%, 12/01/24 (AMBAC) |
135 | 156,175 | ||||||
Commonwealth of Massachusetts GOL |
||||||||
Series 7, 5.00%, 07/01/24 |
130 | 146,094 | ||||||
Series A, 5.00%, 01/01/24 |
250 | 275,434 | ||||||
Series A, 5.00%, 07/01/24 |
40 | 44,952 | ||||||
Series B, 5.00%, 07/01/24 |
640 | 719,232 | ||||||
Series B, 5.25%, 09/01/24 (AGM) |
850 | 967,353 | ||||||
Series C, 5.00%, 07/01/24 |
60 | 67,428 | ||||||
Series C, 5.00%, 10/01/24 |
300 | 340,386 | ||||||
Series F, 5.00%, 05/01/24 |
100 | 111,651 | ||||||
Series H, 5.00%, 12/01/24 |
185 | 211,187 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/24 |
210 | 235,118 | ||||||
Massachusetts Bay Transportation Authority RB |
||||||||
Series A, 5.00%, 07/01/24 |
855 | 960,720 | ||||||
Series B, 5.00%, 07/01/24 |
80 | 89,881 | ||||||
Series C, 5.50%, 07/01/24 |
200 | 227,353 | ||||||
Massachusetts Clean Water Trust (The) RB |
||||||||
Series 2017, 5.00%, 08/01/24 |
175 | 197,350 | ||||||
Series 21, 5.00%, 08/01/24 |
200 | 225,543 | ||||||
Massachusetts School Building Authority RB, Series C, 5.00%, 08/15/24 |
235 | 265,409 | ||||||
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue RB, 5.00%, 01/01/24 |
175 | 192,644 | ||||||
Massachusetts Water Resources Authority RB |
||||||||
Series B, 5.00%, 08/01/24 |
235 | 264,880 | ||||||
Series C, 5.00%, 08/01/24 |
255 | 287,140 | ||||||
Series F, 5.00%, 08/01/24 |
250 | 281,782 | ||||||
|
|
|||||||
6,776,348 | ||||||||
Michigan — 0.9% |
||||||||
Michigan Finance Authority RB |
||||||||
Series B, 5.00%, 10/01/24 |
185 | 209,904 | ||||||
Series C-3, 5.00%, 07/01/24 (AGM) |
115 | 128,584 | ||||||
Michigan
State Building Authority RB, Series I, |
475 | 529,163 | ||||||
Oxford Area Community School District GO, Series A, 5.00%, 05/01/24 |
15 | 16,704 | ||||||
State of Michigan Comprehensive Transportation Revenue RB, 5.00%, 11/15/24 |
100 | 113,779 | ||||||
State of Michigan GO, Series A, 5.00%, 12/01/24 |
220 | 250,705 | ||||||
State of Michigan RB, 5.00%, 03/15/24 |
555 | 615,696 |
64 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Michigan (continued) | ||||||||
University of Michigan RB |
||||||||
Series A, 5.00%, 04/01/24 |
$ | 50 | $ | 55,629 | ||||
Serise A, 5.00%, 04/01/24 |
115 | 127,947 | ||||||
Wayne County Airport Authority RB, Series C, 5.00%, 12/01/24 |
50 | 56,929 | ||||||
|
|
|||||||
2,105,040 | ||||||||
Minnesota — 1.6% | ||||||||
County of Hennepin MN GO, Series A, 5.00%, 12/01/24 |
325 | 371,112 | ||||||
Metropolitan Council GO |
||||||||
Series A, 5.00%, 03/01/24 |
50 | 55,445 | ||||||
Series C, 5.00%, 03/01/24 |
235 | 260,593 | ||||||
Series E, 5.00%, 12/01/24 |
255 | 291,011 | ||||||
Minneapolis-St Paul Metropolitan Airports Commission RB, Series B, 5.00%, 01/01/24 |
255 | 280,126 | ||||||
Minnesota
Municipal Power Agency RB, Series A, |
90 | 101,695 | ||||||
Minnesota
Public Facilities Authority RB, Series B, |
500 | 531,129 | ||||||
Rosemount-Apple Valley-Eagan Independent School District No. 196 GO, Series A, 5.00%, 02/01/24 |
115 | 127,045 | ||||||
Southern Minnesota Municipal Power Agency RB, Series A, 4.00%, 01/01/24 |
100 | 107,409 | ||||||
State of Minnesota GO |
||||||||
Series A, 5.00%, 08/01/24 |
630 | 710,089 | ||||||
Series B, 5.00%, 08/01/24 |
205 | 231,061 | ||||||
Series B, 5.00%, 10/01/24 |
100 | 113,431 | ||||||
Series D, 5.00%, 08/01/24 |
470 | 529,750 | ||||||
Series E, 5.00%, 10/01/24 |
75 | 85,073 | ||||||
|
|
|||||||
3,794,969 | ||||||||
Mississippi — 0.2% | ||||||||
State of Mississippi GO |
||||||||
Series B, 5.00%, 09/01/24 |
50 | 56,491 | ||||||
Series C, 4.00%, 10/01/24 |
25 | 27,603 | ||||||
Series C, 5.00%, 10/01/24 |
360 | 408,012 | ||||||
|
|
|||||||
492,106 | ||||||||
Missouri — 0.8% | ||||||||
City of Springfield MO Public Utility Revenue RB, 5.00%, 08/01/24 |
175 | 197,247 | ||||||
Missouri Highway & Transportation Commission RB |
||||||||
Series A, 5.00%, 05/01/24 |
460 | 513,841 | ||||||
Series A, Series A, 5.00%, 05/01/24 |
100 | 111,571 | ||||||
Series B, 5.00%, 05/01/24 |
105 | 117,150 | ||||||
Missouri State Board of Public Buildings RB |
||||||||
Series A, 4.00%, 04/01/24 |
280 | 304,796 | ||||||
Series A, 5.00%, 04/01/24 |
255 | 283,709 | ||||||
Series B, 5.00%, 04/01/24 |
125 | 139,073 | ||||||
Missouri State Environmental Improvement & Energy Resources Authority RB, Series B, 4.00%, 07/01/24 |
70 | 76,732 | ||||||
University of Missouri RB, Series A, 5.00%, 11/01/24 |
285 | 324,107 | ||||||
|
|
|||||||
2,068,226 | ||||||||
Nebraska — 0.7% | ||||||||
City of Omaha NE GO |
||||||||
Series A, 5.00%, 01/15/24 |
125 | 137,905 | ||||||
Series B, 5.00%, 04/15/24 |
175 | 194,727 | ||||||
Series B, 5.00%, 11/15/24 |
25 | 28,437 | ||||||
Series B, 5.00%, 11/15/26 (PR 11/15/24) |
50 | 57,032 | ||||||
Nebraska Public Power District RB, Series A-1, 5.00%, 01/01/24 |
290 | 318,972 |
Security | Par (000) |
Value | ||||||
Nebraska (continued) | ||||||||
Omaha Public Power District Nebraska City Station Unit 2 RB, Series A, 5.00%, 02/01/24 |
$ | 155 | $ | 170,829 | ||||
Omaha Public Power District RB |
||||||||
Series A, 5.00%, 02/01/24 |
290 | 320,131 | ||||||
Series B, 5.00%, 02/01/31 (PR 08/01/24) |
495 | 558,073 | ||||||
|
|
|||||||
1,786,106 | ||||||||
Nevada — 2.0% | ||||||||
Clark County School District GOL |
||||||||
Series B, 5.00%, 06/15/24 |
170 | 189,767 | ||||||
Series C, 5.00%, 06/15/24 |
505 | 563,720 | ||||||
Clark
County Water Reclamation District GOL, |
195 | 218,919 | ||||||
County
of Clark NV GOL |
65 | 72,739 | ||||||
5.00%, 11/01/24 |
150 | 170,534 | ||||||
Series A, 5.00%, 06/01/24 |
95 | 106,311 | ||||||
Series A, 5.00%, 11/01/24 |
205 | 233,064 | ||||||
Series B, 5.00%, 11/01/24 |
255 | 289,908 | ||||||
Serise A, 5.00%, 12/01/24 |
100 | 114,023 | ||||||
County of Clark NV Passenger Facility Charge Revenue RB, Series C, 5.00%, 07/01/24 |
190 | 213,198 | ||||||
County
of Clark NV RB |
640 | 718,867 | ||||||
Series A, 5.00%, 07/01/24 |
155 | 174,101 | ||||||
Las Vegas Valley Water District GOL |
||||||||
Series A, 5.00%, 02/01/24 |
50 | 55,213 | ||||||
Series B, 5.00%, 06/01/24 |
410 | 458,703 | ||||||
Nevada
System of Higher Education RB, Series A, |
140 | 157,093 | ||||||
State of Nevada GOL |
||||||||
Series A, 5.00%, 05/01/24 |
165 | 184,137 | ||||||
Series B, 5.00%, 11/01/24 |
235 | 267,322 | ||||||
Series D, 5.00%, 04/01/24 |
210 | 233,535 | ||||||
State
of Nevada Highway Improvement Revenue RB |
220 | 250,996 | ||||||
Series A, Series A, 5.00%, 12/01/24 |
100 | 114,089 | ||||||
Washoe
County School District/NV GOL, Series A, |
105 | 117,357 | ||||||
|
|
|||||||
4,903,596 | ||||||||
New Hampshire — 0.1% | ||||||||
New Hampshire Health and Education Facilities Authority Act RB, 5.00%, 07/01/24 |
50 | 56,020 | ||||||
New Hampshire Municipal Bond Bank RB |
||||||||
Series B, 5.00%, 08/15/24 |
50 | 56,425 | ||||||
Series E, 5.00%, 08/15/24 |
15 | 16,919 | ||||||
State of New Hampshire GO, Series B, 5.00%, 12/01/24 |
115 | 131,278 | ||||||
|
|
|||||||
260,642 | ||||||||
New Jersey — 2.2% | ||||||||
County of Essex NJ GO, Series B, 5.00%, 09/01/24 |
||||||||
(SCH BD RES FD) |
110 | 124,279 | ||||||
County of Monmouth NJ Go, 5.00%, 07/15/24 |
445 | 500,071 | ||||||
Monmouth
County Improvement Authority (The) RB |
65 | 74,158 | ||||||
Series A, 4.00%, 08/01/24 |
400 | 439,808 | ||||||
New Jersey Economic Development Authority RB |
||||||||
Series AAA, 4.00%, 06/15/24 |
120 | 130,681 | ||||||
Series N-1, 5.50%, 09/01/24 (AMBAC) |
55 | 62,695 | ||||||
Series UU, 5.00%, 06/15/24 |
190 | 212,048 | ||||||
Series XX, 4.00%, 06/15/24 (SAP) |
495 | 539,058 |
SCHEDULE OF INVESTMENTS |
65 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
New Jersey (continued) | ||||||||
Series XX, 5.00%, 06/15/24 (SAP) |
$ | 135 | $ | 150,678 | ||||
New Jersey Educational Facilities Authority RB |
||||||||
Series A, 5.00%, 07/01/24 |
80 | 89,949 | ||||||
Series A, 5.00%, 09/01/24 |
145 | 163,092 | ||||||
Series I, 5.00%, 07/01/24 |
170 | 191,143 | ||||||
New Jersey Transportation Trust Fund Authority RB |
||||||||
Series A, 5.00%, 06/15/24 |
425 | 474,324 | ||||||
Series A-1, 5.00%, 06/15/24 |
400 | 446,400 | ||||||
Series AA, 5.00%, 06/15/24 |
180 | 200,904 | ||||||
New Jersey Turnpike Authority RB, Series C, 5.00%, 01/01/24 |
140 | 153,763 | ||||||
State
of New Jersey GO |
440 | 490,095 | ||||||
Series A, 5.00%, 06/01/24 |
580 | 646,035 | ||||||
Township
of Union NJ/Union County GO, |
150 | 158,801 | ||||||
|
|
|||||||
5,247,982 | ||||||||
New Mexico — 1.0% | ||||||||
New
Mexico Finance Authority RB |
150 | 167,859 | ||||||
Series A, 5.00%, 06/01/24 |
75 | 83,930 | ||||||
Series A, 5.00%, 06/15/24 |
540 | 604,444 | ||||||
Series D, 5.00%, 06/15/24 |
85 | 95,263 | ||||||
State
of New Mexico GO |
145 | 160,899 | ||||||
Series A, 5.00%, 03/01/24 |
350 | 388,377 | ||||||
Series B, 5.00%, 03/01/24 |
120 | 133,158 | ||||||
State of New Mexico Severance Tax Permanent Fund RB |
||||||||
Series A, 5.00%, 07/01/24 |
495 | 555,717 | ||||||
Series B, 4.00%, 07/01/24 |
140 | 153,465 | ||||||
|
|
|||||||
2,343,112 | ||||||||
New York — 10.2% | ||||||||
City of New York NY GO |
||||||||
Series 1, 5.00%, 08/01/24 |
540 | 607,538 | ||||||
Series A, 5.00%, 08/01/24 |
235 | 264,392 | ||||||
Series A-1, 5.00%, 08/01/24 |
150 | 168,761 | ||||||
Series A-2015, 2.50%, 08/01/24 |
300 | 317,057 | ||||||
Series A-2015, 5.00%, 08/01/24 |
230 | 258,766 | ||||||
Series B, 5.00%, 08/01/24 |
100 | 112,507 | ||||||
Series B-1, 5.00%, 12/01/24 |
25 | 28,473 | ||||||
Series C, 5.00%, 08/01/24 |
1,170 | 1,316,333 | ||||||
Series D, 4.00%, 08/01/24 |
120 | 131,734 | ||||||
Series E, 5.00%, 08/01/24 |
505 | 568,161 | ||||||
Series I, 5.00%, 03/01/24 |
170 | 188,220 | ||||||
Series J-4, 4.00%, 08/01/24 |
100 | 109,779 | ||||||
Series J-4, 5.00%, 08/01/24 |
125 | 140,634 | ||||||
County of Onondaga NY GOL, 5.00%, 05/01/24 |
60 | 66,927 | ||||||
Long Island Power Authority RB |
||||||||
Series A, 0.00%, 12/01/24 (AGM)(a) |
50 | 48,839 | ||||||
Series A, 5.00%, 09/01/24 |
155 | 175,403 | ||||||
Metropolitan Transportation Authority RB |
||||||||
Series A-1, 4.00%, 11/15/24 |
130 | 142,999 | ||||||
Series A-1, 5.00%, 11/15/24 |
280 | 316,400 | ||||||
Series A2, 5.00%, 11/15/24 |
25 | 28,250 | ||||||
Series A-2, 5.00%, 11/15/24 |
90 | 101,700 | ||||||
Series B, 5.00%, 11/15/24 |
525 | 593,250 | ||||||
Series B, 5.25%, 11/15/24 (AMBAC) |
100 | 114,328 | ||||||
Series B-2, 5.00%, 11/15/24 |
185 | 210,546 | ||||||
Series C-1, 5.00%, 11/15/24 |
855 | 966,151 | ||||||
Series F, 5.00%, 11/15/24 |
145 | 163,850 |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
Series S, 4.00%, 07/15/24 (SAW) |
$ | 140 | $ | 153,700 | ||||
Series S, 5.00%, 07/15/24 (SAW) |
115 | 129,344 | ||||||
Series S, 5.00%, 07/15/24 (ETM) (SAW) |
435 | 488,593 | ||||||
Series S1, 5.00%, 07/15/24 (SAW) |
105 | 118,097 | ||||||
Series S-1, 5.00%, 07/15/24 (SAW) |
310 | 348,863 | ||||||
New
York City Transitional Finance Authority Future Tax Secured Revenue
RB |
250 | 284,385 | ||||||
Series A-1, 5.00%, 08/01/24 |
595 | 670,465 | ||||||
Series B1, 5.00%, 08/01/24 |
180 | 202,830 | ||||||
Series C, 5.00%, 11/01/24 |
1,005 | 1,143,227 | ||||||
Series C1, 5.00%, 05/01/24 |
130 | 145,078 | ||||||
Series E-1, 5.00%, 02/01/24 |
100 | 110,498 | ||||||
New York City Water & Sewer System RB |
||||||||
Series AA, 4.00%, 06/15/24 |
120 | 131,396 | ||||||
Series AA, 5.00%, 06/15/24 |
1,335 | 1,496,556 | ||||||
New York State Dormitory Authority RB |
||||||||
Series A, 4.00%, 03/15/24 |
140 | 151,955 | ||||||
Series A, 5.00%, 02/15/24 |
230 | 254,728 | ||||||
Series A, 5.00%, 03/15/24 |
1,580 | 1,753,670 | ||||||
Series A, 5.00%, 07/01/24 |
740 | 830,138 | ||||||
Series B, 5.00%, 10/01/24 |
15 | 16,958 | ||||||
Series B, 5.50%, 03/15/24 (AMBAC) |
280 | 313,878 | ||||||
Series C, 5.00%, 03/15/24 |
900 | 999,499 | ||||||
Series D, 5.00%, 02/15/24 |
145 | 160,590 | ||||||
Series E, 5.00%, 02/15/24 |
430 | 475,814 | ||||||
Series E, 5.00%, 03/15/24 |
450 | 500,050 | ||||||
Series F, 5.00%, 10/01/24 (SAW) |
20 | 22,469 | ||||||
New
York State Environmental Facilities Corp. RB |
885 | 992,841 | ||||||
Series A, 4.00%, 06/15/24 |
65 | 71,227 | ||||||
Series D, 5.00%, 09/15/24 |
130 | 147,251 | ||||||
New York State Thruway Authority RB |
||||||||
Series J, 5.00%, 01/01/24 |
150 | 165,054 | ||||||
Series K, 4.00%, 01/01/24 |
160 | 172,612 | ||||||
Series K, 5.00%, 01/01/24 |
105 | 115,538 | ||||||
Series L, 5.00%, 01/01/24 |
185 | 203,567 | ||||||
New York State Urban Development Corp. RB 5.00%, 03/15/24 |
215 | 238,696 | ||||||
Series A, 5.00%, 03/15/24 |
1,635 | 1,815,199 | ||||||
Port
Authority of New York & New Jersey RB, |
390 | 442,902 | ||||||
Sales Tax Asset Receivable Corp. RB, Series A, 5.00%, 10/15/24 |
815 | 926,430 | ||||||
State of New York GO, Series A, 5.00%, 03/01/24 |
360 | 399,652 | ||||||
Triborough Bridge & Tunnel Authority RB |
||||||||
Series A, 5.00%, 11/15/24 |
845 | 961,431 | ||||||
Series C-1, 5.00%, 11/15/24 |
165 | 187,735 | ||||||
|
|
|||||||
24,883,914 | ||||||||
North Carolina — 2.4% | ||||||||
City of Charlotte NC COP, 5.00%, 06/01/24 |
125 | 139,883 | ||||||
City of Charlotte NC GO, Series A, 5.00%, 06/01/24 |
140 | 156,900 | ||||||
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/24 |
145 | 163,034 | ||||||
City of Raleigh NC RB, Series A, 5.00%, 06/01/24 |
155 | 173,455 | ||||||
City
of Winston-Salem NC RB, Series C, |
100 | 112,016 | ||||||
City of Winston-Salem NC Water & Sewer System Revenue RB, Series A, 5.00%, 06/01/24 |
10 | 11,204 |
66 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
North Carolina (continued) | ||||||||
County
of Buncombe NC RB |
$ | 125 | $ | 139,883 | ||||
Serise A, 5.00%, 06/01/24 |
175 | 195,836 | ||||||
County of Durham NC GO, 5.00%, 10/01/24 |
45 | 51,086 | ||||||
County
of Forsyth NC GO |
100 | 111,335 | ||||||
5.00%, 12/01/24 |
95 | 108,510 | ||||||
County of Guilford NC GO, 5.00%, 03/01/24 |
520 | 576,889 | ||||||
County
of Mecklenburg NC GO |
145 | 157,114 | ||||||
5.00%, 03/01/24 |
245 | 271,864 | ||||||
Series A, 5.00%, 12/01/24 |
125 | 142,777 | ||||||
Series B, 5.00%, 12/01/24 |
210 | 239,865 | ||||||
County of Orange NC GO, 4.00%, 04/01/24 |
200 | 217,863 | ||||||
County of Wake NC GO, Series A, 5.00%, 03/01/24 |
295 | 327,347 | ||||||
County of Wake NC RB |
||||||||
Series A, 5.00%, 08/01/24 |
135 | 152,162 | ||||||
Series A, 5.00%, 12/01/24 |
85 | 97,004 | ||||||
North Carolina State University at Raleigh RB, 5.00%, 10/01/24 |
45 | 51,002 | ||||||
State of North Carolina GO |
||||||||
Series A, 5.00%, 06/01/24 |
175 | 196,077 | ||||||
Series C, 5.00%, 05/01/24 |
680 | 759,409 | ||||||
State
of North Carolina RB |
325 | 360,475 | ||||||
Series B, 5.00%, 06/01/24 |
475 | 532,208 | ||||||
Series C, 5.00%, 05/01/24 |
250 | 279,195 | ||||||
University of North Carolina at Greensboro RB, 5.00%, 04/01/24 |
115 | 127,564 | ||||||
|
|
|||||||
5,851,957 | ||||||||
Ohio — 3.5% | ||||||||
City of Columbus OH, Series 6, 5.00%, 08/15/24 |
130 | 146,822 | ||||||
City of Columbus OH GO |
||||||||
Series 2017-1, 5.00%, 04/01/24 |
360 | 400,715 | ||||||
Series A, 4.00%, 08/15/24 |
405 | 446,184 | ||||||
Series A, 5.00%, 07/01/24 |
170 | 191,094 | ||||||
Cleveland
Department of Public Utilities Division of Water RB, Series Y, 4.00%,
01/01/29 |
1,040 | 1,123,387 | ||||||
County of Franklin OH GOL, 5.00%, 12/01/24 |
10 | 11,406 | ||||||
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/24 |
200 | 228,377 | ||||||
Miami University/Oxford OH RB, 5.00%, 09/01/24 |
310 | 350,242 | ||||||
Ohio
State University (The) RB, Series A, |
250 | 285,289 | ||||||
Ohio University RB, Series A, 5.00%, 12/01/24 |
110 | 124,881 | ||||||
Ohio
Water Development Authority RB |
100 | 111,824 | ||||||
5.00%, 12/01/24 |
225 | 256,328 | ||||||
Series B, 5.00%, 12/01/24 |
210 | 239,240 | ||||||
Ohio
Water Development Authority Water Pollution Control Loan Fund RB |
230 | 257,195 | ||||||
5.00%, 12/01/24 |
110 | 125,316 | ||||||
Series 2015A, 5.00%, 06/01/24 |
340 | 380,201 | ||||||
Series 2015-A, 5.00%, 12/01/24 |
220 | 250,632 | ||||||
State of Ohio GO |
||||||||
Series A, 4.00%, 05/01/24 |
105 | 114,514 | ||||||
Series A, 4.00%, 05/01/24 (ETM) |
5 | 5,444 | ||||||
Series A, 5.00%, 08/01/24 |
235 | 264,667 | ||||||
Series A, 5.00%, 09/01/24 |
195 | 220,314 | ||||||
Series A, 5.00%, 09/15/24 |
490 | 554,419 |
Security | Par (000) |
Value | ||||||
Ohio (continued) | ||||||||
Series B, 5.00%, 08/01/24 |
$ | 120 | $ | 135,149 | ||||
Series B, 5.00%, 09/15/24 |
225 | 254,580 | ||||||
Series S, 5.00%, 05/01/24 |
145 | 161,740 | ||||||
Series U, 5.00%, 05/01/24 |
140 | 156,163 | ||||||
Serise A, 5.00%, 05/01/24 |
150 | 167,317 | ||||||
Serise A, 5.00%, 06/15/24 |
200 | 224,147 | ||||||
State of Ohio RB |
||||||||
Series A, 5.00%, 04/01/24 |
505 | 560,819 | ||||||
Series A, 5.00%, 10/01/24 |
250 | 282,952 | ||||||
Series A, 5.00%, 12/01/24 |
345 | 392,809 | ||||||
Series B, 5.00%, 10/01/24 |
35 | 39,701 | ||||||
Series C, 5.00%, 12/01/24 |
110 | 125,243 | ||||||
|
|
|||||||
8,589,111 | ||||||||
Oklahoma — 0.5% | ||||||||
City
of Oklahoma City OK GO |
250 | 271,242 | ||||||
5.00%, 03/01/24 |
10 | 11,094 | ||||||
Grand River Dam Authority RB |
||||||||
Series A, 4.00%, 06/01/24 |
330 | 360,643 | ||||||
Series A, 5.00%, 06/01/24 |
75 | 83,888 | ||||||
Oklahoma
Capitol Improvement Authority RB |
215 | 241,128 | ||||||
Series B, 5.00%, 01/01/24 |
15 | 16,502 | ||||||
Series B, 5.00%, 07/01/24 |
55 | 61,684 | ||||||
Series C, 5.00%, 07/01/24 |
30 | 33,646 | ||||||
Oklahoma Turnpike Authority RB, Series D, 5.00%, 01/01/24 |
125 | 137,689 | ||||||
Oklahoma Water Resources Board RB, 5.00%, 04/01/24 |
80 | 89,027 | ||||||
|
|
|||||||
1,306,543 | ||||||||
Oregon — 1.5% | ||||||||
City of Portland OR GOL, Series B, 5.00%, 06/15/24 |
160 | 179,542 | ||||||
City of Portland OR Sewer System Revenue RB |
||||||||
Series A, 5.00%, 10/01/24 |
50 | 56,684 | ||||||
Series B, 5.00%, 06/01/24 |
135 | 151,073 | ||||||
City of Portland OR Water System Revenue RB, Series A, 5.00%, 05/01/24 |
250 | 278,862 | ||||||
County of Multnomah OR GOL, 5.00%, 06/01/24 |
205 | 229,690 | ||||||
Multnomah County School District No. 1 Portland/OR GO, Series B, 5.00%, 06/15/24 (GTD) |
300 | 336,221 | ||||||
Oregon State Lottery RB |
||||||||
Series C, 5.00%, 04/01/24 |
220 | 244,599 | ||||||
Series E, 5.00%, 04/01/24 (MORAL OBLG) |
150 | 166,772 | ||||||
Portland Community College District GO, 5.00%, 06/15/24 |
150 | 168,111 | ||||||
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/24 (GTD)(a) |
125 | 123,555 | ||||||
State of Oregon Department of Transportation RB, Series A, 5.00%, 11/15/24 |
455 | 517,990 | ||||||
State of Oregon GO |
||||||||
Series A, 5.00%, 05/01/24 |
500 | 557,725 | ||||||
Series B, 5.00%, 08/01/24 |
15 | 16,894 | ||||||
Series H, 5.00%, 05/01/24 |
130 | 145,008 | ||||||
Series I, 5.00%, 08/01/24 |
65 | 73,206 | ||||||
Series K, 5.00%, 11/01/24 |
200 | 227,379 | ||||||
Series O, 5.00%, 08/01/24 |
25 | 28,156 | ||||||
Washington & Clackamas Counties School District No. 23J Tigard-Tualatin GO, Series J, 5.00%, 06/15/24 (GTD) |
200 | 224,147 | ||||||
|
|
|||||||
3,725,614 | ||||||||
Pennsylvania — 2.0% | ||||||||
City of Philadelphia PA GO 5.00%, 08/01/24 |
160 | 179,730 |
SCHEDULE OF INVESTMENTS |
67 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Pennsylvania (continued) |
||||||||
Series A, 5.00%, 08/01/24 |
$ | 115 | $ | 129,248 | ||||
City of Philadelphia PA Water & Wastewater Revenue RB, Series B, 5.00%, 11/01/24 |
325 | 369,701 | ||||||
Commonwealth of Pennsylvania GO |
||||||||
First Series, 5.00%, 01/01/24 |
180 | 198,272 | ||||||
First Series, 5.00%, 03/01/24 |
105 | 116,435 | ||||||
First Series, 5.00%, 03/15/24 |
245 | 272,102 | ||||||
First Series, 5.00%, 06/15/24 |
170 | 190,668 | ||||||
First Series, 5.00%, 07/01/24 |
335 | 376,377 | ||||||
First Series, 5.00%, 08/15/24 |
605 | 682,926 | ||||||
First Series, 5.00%, 09/15/24 |
295 | 334,055 | ||||||
Second Series, 5.00%, 01/15/24 |
65 | 71,710 | ||||||
Second Series, 5.00%, 09/15/24 |
310 | 351,041 | ||||||
County of Berks PA GO, 5.00%, 11/15/24 |
100 | 113,714 | ||||||
County of Chester PA GO, 5.00%, 07/15/24 |
65 | 73,175 | ||||||
County of Montgomery PA GO, Series A, 5.00%, 04/01/24 |
20 | 22,262 | ||||||
Delaware County Authority RB, 5.00%, 08/01/24 |
45 | 50,549 | ||||||
Delaware River Joint Toll Bridge Commission RB |
||||||||
5.00%, 07/01/24 |
195 | 218,808 | ||||||
Series B, 5.00%, 07/01/24 |
125 | 140,262 | ||||||
Pennsylvania Infrastructure Investment Authority RB, Series A, 5.00%, 01/15/24 |
195 | 215,222 | ||||||
Pennsylvania
Turnpike Commission RB |
105 | 116,983 | ||||||
Series A, 5.00%, 12/01/24 |
120 | 136,286 | ||||||
Series A-1, 5.00%, 12/01/24 |
215 | 244,439 | ||||||
Series A-2, 5.00%, 12/01/24 |
50 | 56,846 | ||||||
Series B, 5.00%, 12/01/24 |
130 | 147,800 | ||||||
|
|
|||||||
4,808,611 | ||||||||
Rhode Island — 0.6% |
||||||||
Rhode Island Commerce Corp. RB, Series A, 4.00%, 06/15/24 |
240 | 262,528 | ||||||
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB, Series B, 5.00%, 10/01/24 |
200 | 226,861 | ||||||
Rhode Island Turnpike & Bridge Authority RB, Series A, 5.00%, 10/01/24 |
215 | 242,670 | ||||||
State of Rhode Island GO |
||||||||
5.00%, 01/15/24 |
100 | 110,347 | ||||||
Series A, 5.00%, 05/01/24 |
175 | 195,389 | ||||||
Series D, 5.00%, 08/01/24 |
295 | 332,589 | ||||||
|
|
|||||||
1,370,384 | ||||||||
South Carolina — 1.0% |
||||||||
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/24 |
70 | 79,932 | ||||||
City of Charleston SC Waterworks & Sewer System Revenue RB, 5.00%, 01/01/24 |
155 | 170,805 | ||||||
County
of Charleston SC GO, Series C, |
125 | 142,313 | ||||||
Horry County School District/SC GO |
||||||||
5.00%, 03/01/24 (SCSDE) |
175 | 194,102 | ||||||
Series A, 5.00%, 03/01/24 |
170 | 188,556 | ||||||
Lancaster
County School District/SC GO, |
100 | 110,915 | ||||||
Richland County School District No. 1/SC GO, Series C, 5.00%, 03/01/24 |
100 | 110,915 | ||||||
South Carolina Transportation Infrastructure Bank RB, Series A, 5.00%, 10/01/24 |
700 | 793,795 | ||||||
State of South Carolina GO |
||||||||
Series B, 5.00%, 04/01/24 (SAW) |
475 | 528,844 | ||||||
Serise A, 5.00%, 04/01/24 (SAW) |
75 | 83,502 | ||||||
|
|
|||||||
2,403,679 |
Security | Par (000) |
Value | ||||||
Tennessee — 1.4% |
||||||||
City of Chattanooga TN GO, Series B, 5.00%, 03/01/24 |
$ | 100 | $ | 110,940 | ||||
City of Memphis TN Electric System Revenue RB, 5.00%, 12/01/24 |
175 | 199,540 | ||||||
County of Blount TN GO, Series B, 5.00%, 06/01/24 |
175 | 195,836 | ||||||
County of Williamson TN GO, 5.00%, 04/01/24 |
150 | 166,926 | ||||||
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/24 |
185 | 206,770 | ||||||
Metropolitan
Government of Nashville & Davidson County TN GO |
245 | 269,926 | ||||||
5.00%, 07/01/24 |
480 | 539,287 | ||||||
Series A, 5.00%, 07/01/24 |
115 | 129,204 | ||||||
Series C, 4.00%, 07/01/24 |
175 | 191,880 | ||||||
State of Tennessee GO, Series B, 5.00%, 08/01/24 |
595 | 670,990 | ||||||
Tennessee State School Bond Authority RB |
||||||||
Second Series, 5.00%, 11/01/24 (ST INTERCEPT) |
145 | 165,037 | ||||||
Series A, 5.00%, 11/01/24 |
220 | 250,400 | ||||||
Series B, 5.00%, 11/01/24 |
365 | 415,437 | ||||||
|
|
|||||||
3,512,173 | ||||||||
Texas — 12.4% |
||||||||
Alamo Community College District GOL, 5.00%, 02/15/24 |
40 | 44,267 | ||||||
Aldine Independent School District GO, 5.00%, 02/15/24 (PSF) |
265 | 293,143 | ||||||
Alief Independent School District GO, 5.00%, 02/15/24 (PSF) |
155 | 171,349 | ||||||
Allen Independent School District GO, 5.00%, 02/15/24 (PSF) . |
100 | 110,741 | ||||||
Arlington Independent School District/TX GO |
||||||||
Series A, 5.00%, 02/15/24 (PSF) |
40 | 44,287 | ||||||
Series B, 5.00%, 02/15/24 (PSF) |
75 | 83,038 | ||||||
Austin Independent School District GO |
||||||||
5.00%, 08/01/24 (PSF) |
125 | 140,817 | ||||||
Series A, 4.00%, 08/01/24 (PSF) |
125 | 137,404 | ||||||
Series A, 5.00%, 08/01/24 (PSF) |
55 | 61,960 | ||||||
Birdville
Independent School District GO |
10 | 11,055 | ||||||
Series A, 5.00%, 02/15/24 (PSF) |
105 | 116,075 | ||||||
Board of Regents of the University of Texas System RB |
||||||||
Series C, 5.00%, 08/15/24 |
125 | 141,026 | ||||||
Series D, 5.00%, 08/15/24 |
120 | 135,385 | ||||||
Series E, 5.00%, 08/15/24 |
175 | 197,436 | ||||||
Series H, 5.00%, 08/15/24 |
260 | 293,334 | ||||||
Central Texas Turnpike System RB |
||||||||
Series A, 0.00%, 08/15/24 (AMBAC)(a) |
90 | 88,338 | ||||||
Series C, 5.00%, 08/15/24 |
125 | 140,468 | ||||||
City
of Austin TX GOL |
360 | 407,060 | ||||||
Series A, 5.00%, 09/01/24 |
230 | 260,066 | ||||||
City
of Austin TX Water & Wastewater System Revenue RB |
155 | 176,357 | ||||||
Series A, 5.00%, 05/15/24 |
155 | 173,072 | ||||||
Series A, 5.00%, 11/15/24 |
355 | 403,915 | ||||||
City
of Brownsville TX GOL |
10 | 11,023 | ||||||
5.00%, 02/15/24 (ETM) |
5 | 5,527 | ||||||
City of Dallas TX Waterworks & Sewer System Revenue RB |
||||||||
Series A, 5.00%, 10/01/24 |
180 | 203,950 | ||||||
Series C, 5.00%, 10/01/24 |
250 | 283,576 | ||||||
City of Denton TX GOL, 5.00%, 02/15/24 |
45 | 49,812 | ||||||
City of El Paso TX GOL, 5.00%, 08/15/24 |
135 | 152,067 | ||||||
City of Frisco TX GOL, 5.00%, 02/15/24 |
100 | 110,644 | ||||||
City of Grand Prairie TX GOL, 5.00%, 02/15/24 |
290 | 320,658 |
68 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) |
||||||||
City of Houston TX Combined Utility System Revenue RB |
||||||||
Series B, 5.00%, 11/15/24 |
$ | 255 | $ | 290,718 | ||||
Series C, 5.00%, 05/15/24 |
460 | 514,503 | ||||||
Series D, 5.00%, 11/15/24 |
195 | 222,314 | ||||||
City of Pflugerville TX GOL, 5.00%, 08/01/24 |
60 | 67,557 | ||||||
City of Plano TX GOL, 5.00%, 09/01/24 |
50 | 56,551 | ||||||
City of San Antonio Texas Electric & Gas Systems Revenue RB, Series REF, 5.25%, 02/01/24 |
505 | 560,717 | ||||||
City
of San Antonio TX Electric & Gas Systems Revenue
RB |
275 | 303,803 | ||||||
5.00%, 02/01/24 (ETM) |
155 | 171,161 | ||||||
City
of San Antonio TX GOL |
240 | 265,252 | ||||||
5.00%, 08/01/24 |
400 | 450,851 | ||||||
Clear
Creek Independent School District GO, |
95 | 105,135 | ||||||
Comal
Independent School District GO, Series B, |
110 | 121,469 | ||||||
Conroe Independent School District GO, 5.00%, 02/15/24 (PSF) |
105 | 116,202 | ||||||
County of Bexar TX GOL, 5.00%, 06/15/24 |
180 | 201,833 | ||||||
County of Collin TX GOL, 5.00%, 02/15/24 |
105 | 116,151 | ||||||
County of Denton TX GOL, 5.00%, 07/15/24 |
105 | 118,025 | ||||||
County of Travis TX GOL, 5.00%, 03/01/24 |
60 | 66,416 | ||||||
Crowley Independent School District GO, Series A, 5.00%, 08/01/24 (PSF) |
80 | 89,935 | ||||||
Cypress-Fairbanks
Independent School District GO |
115 | 127,297 | ||||||
Series A, 5.00%, 02/15/24 (PSF) |
105 | 116,228 | ||||||
Series C, 5.00%, 02/15/24 (PSF) |
75 | 83,020 | ||||||
Dallas
Area Rapid Transit RB |
200 | 226,604 | ||||||
5.00%, 12/01/24 |
295 | 336,465 | ||||||
Series A, 5.00%, 12/01/24 |
575 | 655,822 | ||||||
Denton Independent School District GO, 0.00%, 08/15/24 (PSF)(a) |
200 | 197,510 | ||||||
Fort Bend Independent School District GO |
||||||||
Series C, 5.00%, 02/15/24 (PSF) |
25 | 27,667 | ||||||
Series C, 5.00%, 08/15/24 (PSF) |
75 | 84,638 | ||||||
Fort Worth Independent School District GO, 5.00%, 02/15/24 (PSF) |
400 | 442,384 | ||||||
Frisco Independent School District GO, 5.00%, 08/15/24 (PSF) |
320 | 360,930 | ||||||
Garland Independent School District GO, Series A, 5.00%, 02/15/24 (PSF) |
300 | 332,006 | ||||||
Grapevine-Colleyville
Independent School District GO, |
150 | 148,133 | ||||||
Harris County Toll Road Authority (The) RB, Series A, 5.00%, 08/15/24 |
190 | 214,473 | ||||||
Katy
Independent School District GO, |
125 | 138,306 | ||||||
Keller Independent School District/TX GO |
||||||||
Series A, 5.00%, 02/15/24 (PSF) |
160 | 176,837 | ||||||
Series A, 5.00%, 08/15/24 (PSF) |
170 | 191,542 | ||||||
Klein Independent School District GO 5.00%, 08/01/24 (PSF) |
65 | 73,130 | ||||||
Series A, 5.00%, 08/01/24 (PSF) |
370 | 416,276 | ||||||
Lamar Consolidated Independent School District GO 5.00%, 02/15/24 (PSF) |
120 | 132,657 | ||||||
Series A, 2.00%, 02/15/24 (PSF) |
50 | 51,862 |
Security | Par (000) |
Value | ||||||
Texas (continued) |
||||||||
Laredo
Independent School District GO, |
$ | 150 | $ | 148,174 | ||||
Leander Independent School District GO |
||||||||
Series C, 0.00%, 08/15/37 (PR 08/15/24)(a) |
700 | 352,771 | ||||||
Series D, 0.00%, 08/15/24 (PSF)(a) |
125 | 123,444 | ||||||
Lewisville Independent School District GO 5.00%, 08/15/24 |
400 | 451,044 | ||||||
5.00%, 08/15/24 (PSF) |
260 | 293,256 | ||||||
Lone
Star College System GOL |
185 | 209,264 | ||||||
Series A, 5.00%, 02/15/24 |
40 | 44,238 | ||||||
Series A, 5.00%, 08/15/24 |
120 | 135,313 | ||||||
Series B, 5.00%, 02/15/24 |
235 | 259,900 | ||||||
Lower
Colorado River Authority RB |
195 | 217,630 | ||||||
Series B, 5.00%, 05/15/24 |
160 | 178,569 | ||||||
Metropolitan Transit Authority of Harris County RB |
||||||||
Series A, 5.00%, 11/01/24 |
175 | 199,013 | ||||||
Series B, 5.00%, 11/01/24 |
125 | 142,152 | ||||||
Series D, 5.00%, 11/01/24 |
285 | 324,107 | ||||||
North
East Independent School District/TX GO |
515 | 580,924 | ||||||
5.25%, 02/01/24 (PSF) |
100 | 111,153 | ||||||
North
Texas Municipal Water District RB |
135 | 150,814 | ||||||
5.50%, 06/01/24 |
50 | 56,498 | ||||||
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/24 |
275 | 310,116 | ||||||
North
Texas Tollway Authority RB |
100 | 109,945 | ||||||
Series A, 5.00%, 01/01/24 |
245 | 269,365 | ||||||
Series S, 5.00%, 01/01/24 (ETM) |
50 | 55,056 | ||||||
Northside
Independent School District GO |
275 | 310,041 | ||||||
5.00%, 08/15/24 (PSF) |
200 | 225,820 | ||||||
Series A, 5.00%, 08/15/24 (PSF) |
165 | 186,302 | ||||||
Northwest Independent School District GO, Series A, 5.00%, 02/15/24 (PSF) |
95 | 104,905 | ||||||
Pasadena Independent School District GO, 5.00%, 02/15/24 (PSF) |
150 | 165,894 | ||||||
Permanent University Fund - University of Texas System RB |
||||||||
Series A, 5.00%, 07/01/24 |
110 | 123,524 | ||||||
Series B, 5.00%, 07/01/24 |
250 | 280,736 | ||||||
Pflugerville Independent School District GO, 5.00%, 02/15/24 (PSF) |
250 | 276,854 | ||||||
Rockwall Independent School District GO, Series A, 0.00%, 02/15/24 (PSF)(a) |
35 | 34,680 | ||||||
Round Rock Independent School District GO, 5.00%, 08/01/24 (PSF) |
165 | 185,976 | ||||||
San Antonio Independent School District/TX GO, 5.00%, 02/15/24 (PSF) |
405 | 448,110 | ||||||
San Antonio Water System RB |
||||||||
Series A, 5.00%, 05/15/24 |
390 | 435,787 | ||||||
Series B, 5.00%, 05/15/24 |
120 | 134,088 | ||||||
Spring Branch Independent School District GO, 5.00%, 02/01/24 (PSF) |
370 | 408,929 | ||||||
Spring Independent School District GO, 5.00%, 08/15/24 (PSF) |
580 | 653,841 | ||||||
State of Texas GO 5.00%, 04/01/24 |
295 | 328,136 |
SCHEDULE OF INVESTMENTS |
69 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Series A, 5.00%, 10/01/24 |
$ | 820 | $ | 929,874 | ||||
Series A, 5.00%, 10/01/39 (PR 10/01/24) |
1,000 | 1,133,056 | ||||||
Series B-1, 5.00%, 08/01/24 |
80 | 90,147 | ||||||
Series D, 5.00%, 05/15/24 |
425 | 475,011 | ||||||
Tarrant Regional Water District RB, Series A, 5.00%, 03/01/24 |
250 | 277,288 | ||||||
Texas A&M University RB |
||||||||
Series C, 5.00%, 05/15/24 |
485 | 542,203 | ||||||
Series E, 4.00%, 05/15/24 |
25 | 27,318 | ||||||
Series E, 5.00%, 05/15/24 |
315 | 352,152 | ||||||
Texas Public Finance Authority RB, 5.00%, 02/01/24 |
210 | 231,695 | ||||||
Texas State University System RB, Series A, 5.00%, 03/15/24 |
335 | 371,721 | ||||||
Texas Transportation Commission State Highway Fund RB |
||||||||
First Series, 5.00%, 10/01/24 |
395 | 447,804 | ||||||
Series A, 5.00%, 04/01/24 |
765 | 850,734 | ||||||
Series A, 5.00%, 10/01/24 |
145 | 164,384 | ||||||
Texas
Water Development Board RB |
405 | 451,287 | ||||||
5.00%, 08/01/24 |
390 | 439,580 | ||||||
Series A, 5.00%, 10/15/24 |
195 | 221,513 | ||||||
Series B, 5.00%, 04/15/24 |
50 | 55,714 | ||||||
Series B, 5.00%, 10/15/24 |
110 | 124,956 | ||||||
Tyler Independent School District GO, 5.00%, 02/15/24 (PSF) |
30 | 33,172 | ||||||
United Independent School District/TX GO, 5.00%, 08/15/24 (PSF) |
20 | 22,558 | ||||||
University of Houston RB, Series A, 5.00%, 02/15/24 |
400 | 442,190 | ||||||
University of North Texas System RB, Series A, 5.00%, 04/15/24 |
45 | 50,026 | ||||||
Ysleta Independent School District GO, 5.00%, 08/15/24 (PSF) |
125 | 140,951 | ||||||
|
|
|||||||
30,041,933 | ||||||||
Utah — 0.9% | ||||||||
City of Ogden City UT Sewer & Water Revenue RB, 5.00%, 06/15/24 |
50 | 55,967 | ||||||
Metropolitan Water District of Salt Lake & Sandy RB, Series A, 5.00%, 07/01/24 |
25 | 28,067 | ||||||
Nebo School District GO, Series C, 4.00%, 07/01/24 (GTD) |
100 | 109,618 | ||||||
State
of Utah GO |
400 | 449,633 | ||||||
Series B, 5.00%, 07/01/24 |
270 | 303,503 | ||||||
University of Utah (The) RB |
||||||||
Series A, 5.00%, 08/01/24 |
290 | 326,696 | ||||||
Series A, 5.00%, 08/01/24 (SAP) |
275 | 309,798 | ||||||
Series B, 5.00%, 08/01/24 |
120 | 135,185 | ||||||
Utah State Building Ownership Authority RB, 5.00%, 05/15/24 |
175 | 195,262 | ||||||
Utah Transit Authority RB, Series A, 5.00%, 06/15/24 |
335 | 375,447 | ||||||
|
|
|||||||
2,289,176 | ||||||||
Vermont — 0.1% | ||||||||
State of Vermont GO, Series A, 5.00%, 02/15/24 |
165 | 182,723 | ||||||
|
|
|||||||
Virginia — 4.7% | ||||||||
City of Alexandria VA GO |
||||||||
Series C, 5.00%, 07/01/24 (SAW) |
435 | 488,976 | ||||||
Series C, 5.00%, 07/15/24 (SAW) |
100 | 112,578 | ||||||
City of Chesapeake VA GO, Series C, 5.00%, 12/01/24 |
150 | 171,034 | ||||||
City of Newport News VA GO, Series A, 5.00%, 08/01/24 |
100 | 112,771 | ||||||
City of Norfolk VA GO |
||||||||
Series A, 5.00%, 09/01/35 (PR 09/01/24) (SAW) |
150 | 169,654 | ||||||
Series A, 5.00%, 09/01/37 (PR 09/01/24) (SAW) |
600 | 678,616 | ||||||
City of Norfolk VA Water Revenue RB, 5.00%, 11/01/24 |
230 | 260,969 |
Security | Par (000) |
Value | ||||||
Virginia (continued) | ||||||||
City of Richmond VA GO |
||||||||
Series B, 5.00%, 07/15/24 |
$ | 205 | $ | 230,666 | ||||
Series B, 5.00%, 07/15/24 (SAW) |
240 | 270,047 | ||||||
City of Virginia Beach VA GO, Series B, 5.00%, 09/15/24 (SAW) |
500 | 566,348 | ||||||
Commonwealth of Virginia GO |
||||||||
Series B, 5.00%, 06/01/24 |
50 | 55,967 | ||||||
Series B, 5.00%, 06/01/24 (SAW) |
100 | 111,934 | ||||||
County
of Arlington VA GO |
125 | 141,212 | ||||||
Series A, 5.00%, 08/15/24 |
50 | 56,485 | ||||||
County of Fairfax VA GO |
||||||||
Series A, 4.00%, 10/01/24 (SAW) |
250 | 276,260 | ||||||
Series A, 5.00%, 10/01/24 (SAW) |
525 | 595,346 | ||||||
Series B, 5.00%, 04/01/24 (SAW) |
500 | 556,163 | ||||||
Series B, 5.00%, 10/01/24 (SAW) |
120 | 136,079 | ||||||
County
of Henrico VA GO |
50 | 56,386 | ||||||
Series A, 5.00%, 08/01/24 |
100 | 112,771 | ||||||
Series A, 5.00%, 08/01/24 (SAW) |
245 | 276,290 | ||||||
Series B, 5.00%, 08/01/24 (SAW) |
205 | 231,181 | ||||||
Fairfax County Water Authority RB, 5.00%, 04/01/24 |
75 | 83,444 | ||||||
Hampton Roads Sanitation District RB |
||||||||
Series A, 5.00%, 07/01/24 |
150 | 168,613 | ||||||
Series A, 5.00%, 08/01/24 |
95 | 107,133 | ||||||
Virginia College Building Authority RB 5.00%, 02/01/24 |
100 | 110,569 | ||||||
Series A, 3.00%, 09/01/24 |
115 | 123,460 | ||||||
Series A, 4.00%, 02/01/28 (PR 02/01/24) |
250 | 270,768 | ||||||
Series A, 5.00%, 09/01/24 |
570 | 645,204 | ||||||
Series A, 5.00%, 09/01/24 (SAW) |
50 | 56,597 | ||||||
Series B, 5.00%, 09/01/24 |
100 | 113,194 | ||||||
Series D, 5.00%, 02/01/24 (NPFGC) |
215 | 237,724 | ||||||
Series E-1, 5.00%, 02/01/24 |
280 | 309,327 | ||||||
Virginia
Commonwealth Transportation Board RB |
145 | 160,894 | ||||||
5.00%, 05/15/24 |
150 | 167,530 | ||||||
5.00%, 09/15/24 |
470 | 531,645 | ||||||
Series C, 5.00%, 05/15/24 |
100 | 111,686 | ||||||
Virginia Public Building Authority RB |
||||||||
Series A, 5.00%, 08/01/24 |
560 | 631,355 | ||||||
Series C, 5.00%, 08/01/24 |
140 | 157,839 | ||||||
Virginia
Public School Authority RB |
75 | 82,873 | ||||||
5.00%, 08/01/24 (SAW) |
130 | 146,406 | ||||||
Series B, 5.00%, 08/01/24 |
120 | 135,185 | ||||||
Series B, 5.00%, 08/01/24 (SAW) |
315 | 354,952 | ||||||
Series C, 5.00%, 08/01/24 (SAW) |
275 | 309,798 | ||||||
Virginia
Resources Authority RB |
205 | 233,139 | ||||||
5.00%, 11/01/24 (MORAL OBLG) |
105 | 119,442 | ||||||
Series A, 5.00%, 11/01/24 |
275 | 312,823 | ||||||
Series D, 5.00%, 11/01/24 |
145 | 164,943 | ||||||
|
|
|||||||
11,514,276 | ||||||||
Washington — 5.2% |
||||||||
Cascade Water Alliance RB, 5.00%, 01/01/24 |
90 | 99,094 | ||||||
Central Puget Sound Regional Transit Authority RB, Series S-1, 5.00%, 11/01/24 |
490 | 557,047 | ||||||
City of Bellevue WA GOL, 5.00%, 12/01/24 |
200 | 228,178 |
70 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Washington (continued) | ||||||||
City of Marysville WA Water & Sewer Revenue RB, 5.00%, 04/01/24 |
$ | 40 | $ | 44,421 | ||||
City of Seattle WA Drainage & Wastewater Revenue RB, 5.00%, 04/01/24 |
425 | 472,630 | ||||||
City of Seattle WA GO, 5.00%, 12/01/24 |
115 | 131,202 | ||||||
City
of Seattle WA GOL |
45 | 49,101 | ||||||
Series A, 5.00%, 06/01/24 |
100 | 111,961 | ||||||
City
of Seattle WA Municipal Light & Power Revenue
RB |
70 | 79,108 | ||||||
Series B, 5.00%, 04/01/24 |
100 | 111,207 | ||||||
Series C, 5.00%, 09/01/24 |
330 | 372,939 | ||||||
Series C, 5.00%, 10/01/24 |
75 | 85,026 | ||||||
City of Seattle WA Water System Revenue RB, 5.00%, 08/01/24 |
170 | 191,562 | ||||||
Clark & Skamania Counties School District No. 112-6 Washougal GO, 5.00%, 12/01/24 (GTD) |
25 | 28,506 | ||||||
Clark County Public Utility District No. 1 RB, 5.00%, 01/01/24 |
110 | 120,964 | ||||||
Clark County School District No. 37 Vancouver GO, Series C, 5.00%, 12/01/24 (GTD) |
100 | 114,155 | ||||||
County of King WA GO, 5.00%, 07/01/24 |
110 | 123,618 | ||||||
County
of King WA GOL |
125 | 140,475 | ||||||
Series C, 5.00%, 12/01/24 |
55 | 62,785 | ||||||
Series E, 5.00%, 06/01/24 |
125 | 140,020 | ||||||
Series E, 5.00%, 12/01/24 |
25 | 28,539 | ||||||
County of King WA Sewer Revenue RB, Series B, 5.00%, 07/01/24 |
390 | 438,170 | ||||||
County of Pierce WA GO, Series A, 5.00%, 08/01/24 |
150 | 168,717 | ||||||
Energy
Northwest RB |
135 | 151,674 | ||||||
Series A, 4.00%, 07/01/24 |
205 | 224,889 | ||||||
Series A, 5.00%, 07/01/24 |
820 | 921,282 | ||||||
King
County Rural Library District GO, |
110 | 122,062 | ||||||
King County School District No. 210 Federal Way GO, 4.00%, 12/01/24 (GTD) |
80 | 88,824 | ||||||
King
County School District No. 403 Renton GO, |
125 | 138,706 | ||||||
King County School District No. 405 Bellevue GO, 5.00%, 12/01/24 (GTD) |
35 | 39,931 | ||||||
King County School District No. 411 Issaquah GO, 5.00%, 12/01/24 (GTD) |
175 | 199,656 | ||||||
King County School District No. 414 Lake Washington GO, 5.00%, 12/01/24 (GTD) |
105 | 119,793 | ||||||
Pierce
County School District No. 10 Tacoma
GO, |
310 | 353,471 | ||||||
Pierce County School District No. 320 Sumner GO, 5.00%, 12/01/24 (GTD) |
20 | 22,805 | ||||||
Pierce County School District No. 83 University Place GO, 5.00%, 12/01/24 (GTD) |
100 | 114,023 | ||||||
Port of Seattle WA GOL, 5.00%, 06/01/24 |
400 | 447,735 | ||||||
Port of Seattle WA RB, Series B, 5.00%, 03/01/24 |
85 | 94,089 | ||||||
Port of Tacoma WA RB, Series A, 5.00%, 12/01/24 |
85 | 96,639 | ||||||
Snohomish County School District No. 103 Monroe GO, 5.00%, 12/01/24 (GTD) |
215 | 244,794 | ||||||
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/24 (GTD) |
150 | 171,034 | ||||||
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/24 (GTD) |
100 | 113,792 |
Security | Par (000) |
Value | ||||||
Washington (continued) | ||||||||
Snohomish County School District No. 6 Mukilteo GO, 5.00%, 12/01/24 (GTD) |
$ | 85 | $ | 96,919 | ||||
Spokane & Whitman Counties School District No. 360 Cheney GO, 5.00%, 12/01/24 (GTD) |
125 | 142,529 | ||||||
Spokane County School District No. 356 Central Valley GO, 5.00%, 12/01/24 (GTD) |
255 | 290,843 | ||||||
State of Washington COP |
||||||||
Series A, 5.00%, 07/01/24 |
120 | 134,549 | ||||||
Series B, 5.00%, 07/01/24 |
385 | 431,677 | ||||||
State of Washington GO |
||||||||
Series 2016A, 5.00%, 07/01/24 |
105 | 117,879 | ||||||
Series A-1, 5.00%, 08/01/24 |
135 | 152,043 | ||||||
Series B, 5.00%, 07/01/24 |
895 | 1,004,782 | ||||||
Series C, 0.00%, 06/01/24 (AMBAC)(a) |
100 | 98,617 | ||||||
Series C, 0.00%, 06/01/24 (NPFGC)(a) |
25 | 24,654 | ||||||
Series C, 5.00%, 02/01/24 |
310 | 342,394 | ||||||
Series D, 5.00%, 02/01/24 |
140 | 154,630 | ||||||
Series E, 0.00%, 12/01/24(a) |
60 | 58,877 | ||||||
Series R-2015C, 5.00%, 07/01/24 |
45 | 50,520 | ||||||
Series R-2015E, 5.00%, 07/01/24 |
100 | 112,266 | ||||||
Series R-2018C, 5.00%, 08/01/24 |
500 | 563,123 | ||||||
Series R-2018D, 5.00%, 08/01/24 |
100 | 112,625 | ||||||
Series R-F, 5.00%, 07/01/24 |
100 | 112,266 | ||||||
Tacoma Metropolitan Park District GO, 5.00%, 12/01/24 |
375 | 427,586 | ||||||
University of Washington RB |
||||||||
Series C, 5.00%, 12/01/24 |
110 | 125,571 | ||||||
Serise A, 5.00%, 12/01/24 |
170 | 194,064 | ||||||
Washington
State University RB |
170 | 188,356 | ||||||
5.00%, 10/01/24 |
80 | 90,296 | ||||||
Whatcom County School District No. 503 Blaine GO, 5.00%, 12/01/24 (GTD) |
25 | 28,506 | ||||||
|
|
|||||||
12,620,196 | ||||||||
West Virginia — 0.7% | ||||||||
State of West Virginia GO |
||||||||
Series A, 0.00%, 11/01/24 (NPFGC)(a) |
125 | 122,994 | ||||||
Series A, 5.00%, 06/01/24 |
470 | 526,218 | ||||||
Series A, 5.00%, 12/01/24 |
25 | 28,522 | ||||||
Series B, 5.00%, 06/01/24 |
40 | 44,784 | ||||||
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/24 |
380 | 428,715 | ||||||
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/24 |
220 | 246,486 | ||||||
West Virginia Water Development Authority RB, Series A, 5.00%, 07/01/24 |
265 | 297,204 | ||||||
|
|
|||||||
1,694,923 | ||||||||
Wisconsin — 1.7% | ||||||||
City of Madison WI GO, Series A, 4.00%, 10/01/24 |
165 | 181,825 | ||||||
Milwaukee County Metropolitan Sewer District GO, Series A, 5.00%, 10/01/24 |
35 | 39,679 | ||||||
State
of Wisconsin Clean Water Fund Leveraged Loan Portfolio
RB |
60 | 67,127 | ||||||
Series 1, 5.00%, 06/01/24 |
85 | 95,095 | ||||||
State of Wisconsin Environmental Improvement Fund Revenue RB |
||||||||
Series A, 5.00%, 06/01/24 |
240 | 268,707 | ||||||
Serise A, 5.00%, 06/01/24 |
305 | 341,482 |
SCHEDULE OF INVESTMENTS |
71 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par/ Shares (000) |
Value | ||||||
Wisconsin (continued) | ||||||||
State of Wisconsin GO |
||||||||
Series 1, 5.00%, 11/01/24 |
$ | 120 | $ | 136,350 | ||||
Series 2, 5.00%, 11/01/24 |
745 | 846,509 | ||||||
Series A, 5.00%, 05/01/24 |
425 | 474,066 | ||||||
Series C, 5.00%, 05/01/24 |
150 | 167,317 | ||||||
State of Wisconsin RB, Series A, 5.00%, 05/01/24 |
625 | 697,156 | ||||||
Wisconsin Department of Transportation RB |
||||||||
Series 1, 5.00%, 07/01/24 |
60 | 67,445 | ||||||
Series 2, 5.00%, 07/01/24 |
650 | 730,654 | ||||||
Series A, 5.00%, 07/01/24 |
95 | 106,788 | ||||||
|
|
|||||||
4,220,200 | ||||||||
|
|
|||||||
Total
Municipal Debt Obligations — 98.6% |
|
239,925,945 | ||||||
|
|
|||||||
Short-Term Investments |
| |||||||
Money Market Funds — 0.4% | ||||||||
BlackRock
Liquidity Funds: MuniCash, |
935 | 935,081 | ||||||
|
|
|||||||
Total
Short-Term Investments — 0.4% |
|
935,081 | ||||||
|
|
|||||||
Total
Investments in Securities — 99.0% |
|
240,861,026 | ||||||
Other Assets, Less Liabilities — 1.0% |
|
2,372,301 | ||||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 243,233,327 | |||||
|
|
(a) |
Zero-coupon bond. |
(b) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(c) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
(d) |
Affiliate of the Fund. |
(e) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 187,418 | $ | 747,329 | (a) | $ | — | $ | 343 | $ | (9 | ) | $ | 935,081 | 935 | $ | 52 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 239,925,945 | $ | — | $ | 239,925,945 | ||||||||
Money Market Funds |
935,081 | — | — | 935,081 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 935,081 | $ | 239,925,945 | $ | — | $ | 240,861,026 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
72 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations |
||||||||
Alabama — 0.7% | ||||||||
Alabama Federal Aid Highway Finance Authority RB, Series A, 5.00%, 09/01/25 |
$ | 380 | $ | 444,865 | ||||
Alabama Public School & College Authority RB, Series B, 5.00%, 05/01/25 |
310 | 358,986 | ||||||
City
of Huntsville AL GOL |
155 | 179,434 | ||||||
Series E, 5.00%, 11/01/25 |
115 | 135,292 | ||||||
University of Alabama (The) RB, Series B, 5.00%, 07/01/25 |
120 | 139,396 | ||||||
|
|
|||||||
1,257,973 | ||||||||
Alaska — 0.2% | ||||||||
City of Anchorage AK Water Revenue RB, Series B, 5.00%, 05/01/25 |
85 | 97,823 | ||||||
Municipality of Anchorage AK GO |
||||||||
Series C, 5.00%, 09/01/25 |
25 | 29,174 | ||||||
Series D, 5.00%, 09/01/25 |
30 | 35,009 | ||||||
State of Alaska GO, Series B, 5.00%, 08/01/25 |
160 | 186,356 | ||||||
|
|
|||||||
348,362 | ||||||||
Arizona — 2.6% | ||||||||
Arizona State University RB |
||||||||
Series A, 5.00%, 07/01/25 |
220 | 255,995 | ||||||
Series B, 5.00%, 07/01/25 |
100 | 116,362 | ||||||
Arizona
Transportation Board RB, Series A, |
285 | 331,404 | ||||||
City of Phoenix AZ GO, 5.00%, 07/01/25 |
470 | 546,713 | ||||||
City
of Phoenix Civic Improvement Corp. RB |
480 | 557,900 | ||||||
Series A, 5.00%, 07/01/25 |
615 | 715,426 | ||||||
Series D, 5.00%, 07/01/25 |
145 | 168,322 | ||||||
County of Pima AZ GOL, 4.00%, 07/01/25 |
120 | 134,955 | ||||||
County
of Pima AZ Sewer System Revenue RB, |
125 | 145,105 | ||||||
Maricopa
County Community College District GO, |
330 | 382,426 | ||||||
Maricopa County High School District No. 210-Phoenix GO, 5.00%, 07/01/25 |
60 | 69,841 | ||||||
Maricopa County Unified School District No. 48 Scottsdale GO, Series A, 5.00%, 07/01/25 |
15 | 17,454 | ||||||
Maricopa County Unified School District No. 69 Paradise Valley GO, 5.00%, 07/01/25 |
115 | 133,725 | ||||||
Salt
River Project Agricultural Improvement & Power District
RB |
285 | 325,907 | ||||||
Series A, 5.00%, 01/01/25 |
335 | 383,084 | ||||||
State
of Arizona Lottery Revenue RB, |
200 | 232,580 | ||||||
University of Arizona (The) RB, 4.00%, 06/01/25 |
130 | 146,249 | ||||||
|
|
|||||||
4,663,448 | ||||||||
California — 14.6% | ||||||||
Bay Area Toll Authority RB, 5.00%, 04/01/25 |
200 | 230,660 | ||||||
Beverly
Hills Unified School District CA GO, |
50 | 48,813 | ||||||
California Educational Facilities Authority RB, Series A, 5.00%, 10/01/25 |
65 | 76,435 | ||||||
California
Infrastructure & Economic Development Bank RB |
200 | 224,507 | ||||||
5.00%, 10/01/25 |
205 | 241,066 | ||||||
California
State Public Works Board RB |
100 | 113,343 | ||||||
5.00%, 09/01/25 |
180 | 210,426 | ||||||
5.00%, 11/01/25 |
250 | 293,788 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
5.00%, 12/01/25 |
$ | 280 | $ | 329,913 | ||||
Series A, 5.00%, 06/01/25 |
50 | 57,984 | ||||||
Series B, 5.00%, 04/01/25 |
25 | 28,833 | ||||||
Series B, 5.00%, 10/01/25 |
75 | 87,908 | ||||||
Series C, 5.00%, 11/01/25 |
60 | 70,509 | ||||||
Series D, 5.00%, 04/01/25 |
200 | 230,660 | ||||||
Series D, 5.00%, 06/01/25 |
100 | 115,968 | ||||||
California State University RB |
||||||||
Series A, 4.00%, 11/01/25 |
80 | 91,127 | ||||||
Series A, 5.00%, 11/01/25 |
655 | 772,002 | ||||||
Campbell
Union High School District GO, Series B, |
100 | 117,082 | ||||||
Carmel Unified School District Go, 4.00%, 08/01/25 |
100 | 113,367 | ||||||
City &
County of San Francisco CA GO, Series R1, |
500 | 582,133 | ||||||
City of Los Angeles CA GO, 5.00%, 09/01/25 |
100 | 117,195 | ||||||
City
of Los Angeles CA Wastewater System
Revenue RB |
200 | 232,478 | ||||||
Series B, 5.00%, 06/01/25 |
235 | 272,979 | ||||||
City of Los Angeles Department of Airports RB |
||||||||
Series B, 5.00%, 05/15/25 |
110 | 127,378 | ||||||
Series C, 5.00%, 05/15/25 |
140 | 162,117 | ||||||
City
of Redding CA Electric System Revenue RB, |
100 | 115,775 | ||||||
City of San Francisco CA Public Utilities Commission Water Revenue RB, 5.00%, 11/01/25 |
470 | 553,956 | ||||||
Coast Community College District GO, 5.00%, 08/01/25 |
50 | 58,500 | ||||||
Contra
Costa Transportation Authority RB, Series A, |
80 | 92,236 | ||||||
County of Monterey CA COP, 5.00%, 10/01/25 |
260 | 305,299 | ||||||
East Bay Municipal Utility District Water System Revenue RB |
||||||||
Series A, 4.00%, 06/01/25 |
230 | 259,273 | ||||||
Series B, 5.00%, 06/01/25 |
210 | 244,184 | ||||||
Eastern Municipal Water District RB, Series A, 5.00%, 07/01/25 |
30 | 34,980 | ||||||
El Camino Community College District Foundation/The, 5.00%, 08/01/25 |
15 | 17,575 | ||||||
Escondido
Union High School District GO, Series A, |
60 | 58,314 | ||||||
Foothill-De Anza Community College District GO, Series B, 0.00%, 08/01/25 (NPFGC)(a) |
135 | 131,845 | ||||||
Hillsborough City School District RB, 0.00%, 09/01/25(a) |
250 | 244,368 | ||||||
Imperial Irrigation District Electric System Revenue RB, 5.00%, 11/01/25 |
125 | 146,840 | ||||||
Long Beach Unified School District GO, 5.00%, 08/01/25 |
100 | 117,001 | ||||||
Los Angeles Community College District/CA GO 4.00%, 08/01/25 |
80 | 90,694 | ||||||
Series C, 5.00%, 08/01/25 |
265 | 310,268 | ||||||
Los
Angeles County Metropolitan Transportation Authority RB |
435 | 507,183 | ||||||
Series A, 5.00%, 06/01/25 |
320 | 372,113 | ||||||
Series A, 5.00%, 07/01/25 |
110 | 128,216 | ||||||
Los Angeles County Sanitation Districts Financing Authority RB, 5.00%, 10/01/25 |
300 | 352,907 | ||||||
Los Angeles Department of Water & Power Power System Revenue RB, 5.00%, 07/01/25 |
140 | 163,017 | ||||||
Los Angeles Department of Water & Power RB, Series A, 5.00%, 07/01/25 |
75 | 87,331 |
SCHEDULES OF INVESTMENTS |
73 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Los Angeles Department of Water & Power System Revenue RB |
||||||||
Series A, 5.00%, 07/01/25 |
$ | 15 | $ | 17,466 | ||||
Series C, 5.00%, 07/01/25 |
100 | 116,441 | ||||||
Los
Angeles Department of Water RB |
100 | 116,600 | ||||||
Series B, 5.00%, 07/01/25 |
25 | 29,150 | ||||||
Los
Angeles Unified School District/CA GO |
365 | 424,720 | ||||||
Series A, 5.00%, 07/01/25 |
975 | 1,134,525 | ||||||
Los
Rios Community College District GO |
95 | 111,035 | ||||||
Series C, 4.00%, 08/01/25 |
100 | 113,167 | ||||||
Manhattan
Beach Unified School District GO, |
170 | 165,159 | ||||||
Metropolitan
Water District of Southern California RB |
335 | 359,437 | ||||||
5.00%, 07/01/25 |
175 | 204,211 | ||||||
Series A, 5.00%, 07/01/25 |
235 | 274,197 | ||||||
Mount San Antonio Community College District GO, Series A, 0.00%, 08/01/25(a) |
100 | 96,972 | ||||||
Newport Mesa Unified School District GO, 0.00%, 08/01/25 (NPFGC)(a) |
180 | 175,399 | ||||||
Oak Grove School District GO, Series A, 0.00%, 08/01/25(a) |
25 | 24,243 | ||||||
Orange County Water District RB, Series C, 5.00%, 08/15/25 |
200 | 234,133 | ||||||
Palo Alto Unified School District GO, 0.00%, 08/01/25(a) |
560 | 548,343 | ||||||
Palomar
Community College District GO, Series B, |
325 | 315,749 | ||||||
Pasadena Area Community College District GO, Series A, 5.00%, 08/01/25 |
30 | 35,039 | ||||||
Rancho Water District Financing Authority RB, Series A, 5.00%, 08/01/25 |
140 | 163,915 | ||||||
Riverside Community College District GO, Series D, 0.00%, 08/01/25(a) |
105 | 101,669 | ||||||
Sacramento City Financing Authority RB, 5.25%, 12/01/25 (AMBAC) |
25 | 29,731 | ||||||
Sacramento
County Sanitation Districts Financing Authority RB |
70 | 81,844 | ||||||
5.00%, 12/01/25 |
335 | 395,908 | ||||||
Sacramento Municipal Utility District RB 5.00%, 07/01/25 |
200 | 233,120 | ||||||
Series E, 5.00%, 08/15/25 |
210 | 245,753 | ||||||
San Diego Community College District GO, 5.00%, 08/01/25 |
190 | 221,915 | ||||||
San Diego County Regional Transportation Commission RB, Series A, 5.00%, 04/01/25 |
190 | 219,758 | ||||||
San Diego Public Facilities Financing Authority RB |
||||||||
Series A, 5.00%, 08/01/25 |
100 | 116,675 | ||||||
Series B, 5.00%, 08/01/25 |
110 | 128,254 | ||||||
San
Diego Unified School District/CA GO |
205 | 239,356 | ||||||
Series C-2, 5.50%, 07/01/25 (AGM) |
135 | 160,078 | ||||||
Series D-1, 5.50%, 07/01/25 (NPFGC) |
140 | 166,007 | ||||||
Series J-2, 4.00%, 07/01/25 |
135 | 152,718 | ||||||
Series J-2, 5.00%, 07/01/25 |
80 | 93,407 | ||||||
San Francisco Bay Area Rapid Transit District GO, 5.00%, 08/01/25 |
50 | 58,399 | ||||||
San Francisco City & County Airport Commission San Francisco International Airport RB, 5.00%, 05/01/25 |
275 | 317,521 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
San Francisco City & County Public Utilities Commission Wastewater Revenue RB |
||||||||
Series A, 4.00%, 10/01/25 |
$ | 105 | $ | 119,361 | ||||
Series A, 5.00%, 10/01/25 |
155 | 182,203 | ||||||
San Jose Unified School District GO, Series C, 0.00%, 08/01/25 (NPFGC)(a) |
170 | 165,779 | ||||||
San Mateo County Community College District GO |
||||||||
Series A, 0.00%, 09/01/25 (NPFGC)(a) |
100 | 97,449 | ||||||
Series B, 0.00%, 09/01/25 (NPFGC)(a) |
325 | 316,710 | ||||||
San Mateo Union High School District GO, 0.00%, 09/01/25 (NPFGC)(a) |
300 | 291,790 | ||||||
Santa Clara Valley Transportation Authority RB, Series A, 5.00%, 06/01/25 |
490 | 569,571 | ||||||
Sequoia Union High School District GO, 5.00%, 07/01/25 |
150 | 175,139 | ||||||
Southern California Public Power Authority RB, 5.00%, 07/01/25 |
150 | 174,840 | ||||||
State
of California Department of Water Resources RB |
460 | 543,839 | ||||||
Series AW, 5.00%, 12/01/25 |
100 | 118,226 | ||||||
Series AX, 5.00%, 12/01/25 |
195 | 230,541 | ||||||
State
of California GO |
20 | 22,334 | ||||||
4.00%, 09/01/25 |
365 | 412,729 | ||||||
4.00%, 10/01/25 |
75 | 84,976 | ||||||
5.00%, 03/01/25 |
115 | 132,217 | ||||||
5.00%, 04/01/25 |
245 | 282,469 | ||||||
5.00%, 08/01/25 |
720 | 839,186 | ||||||
5.00%, 09/01/25 |
890 | 1,040,072 | ||||||
5.00%, 10/01/25 |
1,010 | 1,183,395 | ||||||
5.00%, 11/01/25 |
565 | 663,716 | ||||||
Series B, 5.00%, 08/01/25 |
410 | 477,870 | ||||||
Series B, 5.00%, 09/01/25 |
135 | 157,764 | ||||||
University
of California RB |
160 | 185,522 | ||||||
Series AO, 5.00%, 05/15/25 |
335 | 388,436 | ||||||
Series AY, 5.00%, 05/15/25 |
175 | 202,914 | ||||||
Series I, 5.00%, 05/15/25 |
415 | 480,562 | ||||||
Upper Santa Clara Valley Joint Powers Authority RB, Series A, 5.00%, 08/01/25 |
85 | 99,416 | ||||||
|
|
|||||||
26,601,586 | ||||||||
Colorado — 0.8% | ||||||||
Board of Governors of Colorado State University System RB, Series C, 2.50%, 03/01/25 |
25 | 26,645 | ||||||
Board of Water Commissioners City & County of Denver (The) RB, Series A, 4.00%, 09/15/25 |
|
30 |
|
|
34,040 |
| ||
City & County of Denver Co. Airport System Revenue RB, Series A, 5.00%, 11/15/25 |
160 | 187,904 | ||||||
County of Adams Co. COP, 5.00%, 12/01/25 |
130 | 152,772 | ||||||
Denver City & County School District No. 1 COP, Series A, 5.00%, 12/01/25 |
50 | 58,692 | ||||||
Denver
City & County School District No. 1 GO |
125 | 147,283 | ||||||
Series A, 5.50%, 12/01/25 (SAW) |
110 | 131,824 | ||||||
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/25 (NPFGC)(a) |
225 | 217,677 | ||||||
State of Colorado COP |
||||||||
Series K, 5.00%, 03/15/25 |
125 | 143,629 | ||||||
Series L, 5.00%, 03/15/25 |
25 | 28,726 |
74 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Colorado (continued) | ||||||||
University
of Colorado RB, Series A, |
$ | 240 | $ | 278,695 | ||||
|
|
|||||||
1,407,887 | ||||||||
Connecticut — 1.7% | ||||||||
State of Connecticut Clean Water Fund - State Revolving Fund RB, 5.00%, 02/01/25 |
100 | 114,856 | ||||||
State
of Connecticut GO |
235 | 264,195 | ||||||
Series A, 5.00%, 04/15/25 |
170 | 196,313 | ||||||
Series B, 3.00%, 06/01/25 |
100 | 108,879 | ||||||
Series B, 5.00%, 05/15/25 |
210 | 243,176 | ||||||
Series B, 5.00%, 06/15/25 |
100 | 116,113 | ||||||
Series C, 5.00%, 06/15/25 |
220 | 255,449 | ||||||
Series E, 5.00%, 09/15/25 |
240 | 280,908 | ||||||
Series F, 5.00%, 11/15/25 |
380 | 447,104 | ||||||
State of Connecticut Special Tax Revenue RB |
||||||||
Series A, 5.00%, 01/01/25 |
185 | 211,554 | ||||||
Series A, 5.00%, 08/01/25 |
30 | 34,978 | ||||||
Series A, 5.00%, 09/01/25 |
335 | 391,627 | ||||||
Series B, 5.00%, 08/01/25 |
160 | 186,551 | ||||||
Series B, 5.00%, 10/01/25 |
225 | 263,723 | ||||||
|
|
|||||||
3,115,426 | ||||||||
Delaware — 0.5% | ||||||||
City of Wilmington DE GO, 5.00%, 12/01/25 |
15 | 17,694 | ||||||
Delaware Transportation Authority RB, 5.00%, 07/01/25 |
400 | 465,446 | ||||||
State
of Delaware GO |
110 | 126,705 | ||||||
5.00%, 10/01/25 |
100 | 117,423 | ||||||
Series 2009C, 5.00%, 10/01/25 |
90 | 105,680 | ||||||
Series A, 5.00%, 02/01/25 |
100 | 114,857 | ||||||
|
|
|||||||
947,805 | ||||||||
District of Columbia — 1.5% | ||||||||
District of Columbia, Series C, 5.00%, 05/01/25 |
150 | 173,760 | ||||||
District of Columbia GO |
||||||||
Series A, 5.00%, 06/01/25 |
210 | 243,939 | ||||||
Series B, 5.00%, 06/01/25 |
300 | 348,485 | ||||||
Series D, 5.00%, 06/01/25 |
165 | 191,666 | ||||||
Series E, 5.00%, 06/01/25 |
165 | 191,666 | ||||||
District of Columbia RB |
||||||||
Series A, 5.00%, 12/01/25 |
90 | 106,243 | ||||||
Series B, 5.00%, 10/01/25 |
100 | 117,423 | ||||||
Series C, 5.00%, 10/01/25 |
490 | 575,372 | ||||||
District of Columbia Water & Sewer Authority RB |
||||||||
Series A, 5.00%, 10/01/25 |
250 | 293,451 | ||||||
Series B, 5.00%, 10/01/25 |
220 | 258,236 | ||||||
Washington Metropolitan Area Transit Authority RB, Series A1, 5.00%, 07/01/25 |
265 | 307,623 | ||||||
|
|
|||||||
2,807,864 | ||||||||
Florida — 3.3% | ||||||||
Central Florida Expressway Authority RB, 5.00%, 07/01/25 |
140 | 162,684 | ||||||
County
of Miami-Dade FL Aviation Revenue RB |
120 | 139,941 | ||||||
Series B, 5.00%, 10/01/25 |
175 | 204,081 | ||||||
County of Miami-Dade FL Water & Sewer System Revenue RB, 5.00%, 10/01/25 |
615 | 719,800 | ||||||
County of Seminole FL Sales Tax Revenue RB, Series B, 5.25%, 10/01/25 (NPFGC) |
60 | 71,034 | ||||||
Florida
Department of Environmental Protection RB |
430 | 499,673 |
Security | Par (000) |
Value | ||||||
Florida (continued) | ||||||||
Series A, 5.00%, 07/01/25 |
$ | 230 | $ | 267,267 | ||||
Florida Department of Management Services COP, Series A, 5.00%, 08/01/25 |
245 | 285,656 | ||||||
Florida State Development Commission/Everglades Parkway RB, Series A, 5.00%, 07/01/25 |
60 | 69,296 | ||||||
Hillsborough
County School Board COP, Series A, |
180 | 207,958 | ||||||
Orange County School Board COP, 5.00%, 08/01/25 |
50 | 58,175 | ||||||
Palm
Beach County School District COP, Series B, |
165 | 191,845 | ||||||
School Board of Miami-Dade County (The) COP, Series A, 5.00%, 05/01/25 |
210 | 241,602 | ||||||
School
Board of Miami-Dade County (The) GO, |
240 | 275,856 | ||||||
School District of Broward County/FL COP |
||||||||
Series A, 5.00%, 07/01/25 |
120 | 139,064 | ||||||
Series C, 5.00%, 07/01/25 |
160 | 185,419 | ||||||
School District of Broward County/FL GO, 5.00%, 07/01/25 |
180 | 209,379 | ||||||
State
of Florida Department of Transportation RB, |
330 | 382,984 | ||||||
State of Florida Department of Transportation Turnpike System Revenue RB, Series A, 5.00%, 07/01/25 |
||||||||
195 | 226,673 | |||||||
State of Florida GO |
||||||||
Series A, 5.00%, 06/01/25 |
272 | 315,538 | ||||||
Series A, 5.00%, 07/01/25 |
50 | 58,181 | ||||||
Series B, 5.00%, 06/01/25 |
140 | 162,409 | ||||||
Series B, 5.00%, 07/01/25 |
10 | 11,636 | ||||||
Series C, 5.00%, 06/01/25 |
280 | 324,818 | ||||||
Series D, 5.00%, 06/01/25 |
85 | 98,605 | ||||||
State of Florida Lottery Revenue RB |
||||||||
Series A, 5.00%, 07/01/25 |
185 | 215,122 | ||||||
Series B, 5.00%, 07/01/25 |
130 | 151,167 | ||||||
Tampa Bay Water RB, Series C, 5.00%, 10/01/25 |
85 | 99,520 | ||||||
Volusia County School Board COP, Series A, 5.00%, 08/01/25 (BAM) |
90 | 105,008 | ||||||
|
|
|||||||
6,080,391 | ||||||||
Georgia — 2.0% | ||||||||
City
of Atlanta GA Water & Wastewater Revenue RB |
195 | 235,271 | ||||||
Series B, 5.00%, 11/01/25 |
245 | 288,338 | ||||||
County of Forsyth GA GO, 5.00%, 09/01/25 |
100 | 117,194 | ||||||
Forsyth County School District GO, 5.00%, 02/01/25 |
105 | 120,599 | ||||||
Georgia State Road & Tollway Authority RB, 5.00%, 06/01/25 |
230 | 266,637 | ||||||
Gwinnett County School District GO, 5.00%, 02/01/25 |
120 | 137,828 | ||||||
Metropolitan
Atlanta Rapid Transit Authority
RB |
100 | 117,189 | ||||||
Series A, 4.00%, 07/01/25 |
230 | 259,111 | ||||||
Municipal Electric Authority of Georgia RB, 5.00%, 01/01/25 |
145 | 165,124 | ||||||
Private Colleges & Universities Authority RB |
||||||||
Series B, 5.00%, 09/01/25 |
115 | 134,582 | ||||||
Series B, 5.00%, 10/01/25 |
390 | 457,783 | ||||||
State of Georgia GO 5.00%, 07/01/25 |
125 | 145,601 | ||||||
Series A, 5.00%, 02/01/25 |
435 | 499,626 | ||||||
Series A, 5.00%, 07/01/25 |
85 | 99,008 | ||||||
Series A1, 5.00%, 02/01/25 |
85 | 97,628 | ||||||
Series A-1, 5.00%, 02/01/25 |
85 | 97,628 | ||||||
Series C1, 4.00%, 01/01/25 |
150 | 167,073 | ||||||
Series C1, 4.00%, 07/01/25 |
105 | 118,494 |
SCHEDULES OF INVESTMENTS |
75 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Georgia (continued) | ||||||||
Series E, 5.00%, 12/01/25 |
$ | 100 | $ | 118,048 | ||||
|
|
|||||||
3,642,762 | ||||||||
Hawaii — 1.5% | ||||||||
City &
County Honolulu HI Wastewater System Revenue RB |
285 | 331,137 | ||||||
Series B, 5.00%, 07/01/25 |
160 | 186,052 | ||||||
City &
County of Honolulu HI GO |
125 | 146,129 | ||||||
Series A, 5.00%, 10/01/25 |
160 | 187,536 | ||||||
Series B, 5.00%, 09/01/25 |
225 | 263,033 | ||||||
Series C, 5.00%, 10/01/25 |
65 | 76,187 | ||||||
Series E, 5.00%, 09/01/25 |
200 | 233,807 | ||||||
County of Hawaii HI GO, Series D, 5.00%, 09/01/25 |
170 | 198,736 | ||||||
State of Hawaii GO |
||||||||
Series EZ, 5.00%, 10/01/25 |
335 | 392,797 | ||||||
Series FE, 5.00%, 10/01/25 |
130 | 152,428 | ||||||
Series FK, 5.00%, 05/01/25 |
100 | 115,688 | ||||||
Series FN, 5.00%, 10/01/25 |
290 | 340,033 | ||||||
Series FT, 5.00%, 01/01/25 |
25 | 28,597 | ||||||
State
of Hawaii State Highway Fund RB, Series A, |
75 | 83,361 | ||||||
University of Hawaii RB, Series B, 5.00%, 10/01/25 |
45 | 52,706 | ||||||
|
|
|||||||
2,788,227 | ||||||||
Idaho — 0.2% | ||||||||
Idaho
Housing & Finance Association RB, |
330 | 382,495 | ||||||
|
|
|||||||
Illinois — 2.4% | ||||||||
Chicago
O’Hare International Airport RB |
300 | 342,042 | ||||||
Series C, 5.00%, 01/01/25 |
115 | 131,116 | ||||||
Series F, 5.00%, 01/01/25 |
150 | 171,021 | ||||||
Illinois
Finance Authority RB |
390 | 438,605 | ||||||
5.00%, 01/01/25 |
130 | 148,439 | ||||||
5.00%, 07/01/25 |
205 | 237,973 | ||||||
5.00%, 12/01/25 |
265 | 312,239 | ||||||
State
of Illinois GO |
155 | 175,360 | ||||||
5.00%, 02/01/25 |
125 | 141,745 | ||||||
5.00%, 10/01/25 |
100 | 115,265 | ||||||
5.50%, 05/01/25 |
210 | 243,247 | ||||||
Series A, 5.00%, 03/01/25 |
200 | 227,304 | ||||||
Series D, 5.00%, 11/01/25 |
1,260 | 1,455,104 | ||||||
State
of Illinois Sales Tax Revenue RB, |
200 | 230,001 | ||||||
|
|
|||||||
4,369,461 | ||||||||
Indiana — 0.9% | ||||||||
City of Indianapolis Department of Public Utilities Water System Revenue RB, 5.00%, 10/01/25 |
275 | 322,095 | ||||||
Indiana
Finance Authority RB |
105 | 120,526 | ||||||
Series B, 5.00%, 02/01/25 |
215 | 246,791 | ||||||
Series C, 5.00%, 12/01/25 |
310 | 366,087 | ||||||
Indianapolis Local Public Improvement Bond Bank RB, 5.00%, 01/01/25 |
75 | 85,510 | ||||||
Purdue University COP, Series A, 5.00%, 07/01/25 |
115 | 133,907 | ||||||
Purdue
University RB |
160 | 186,306 | ||||||
Series A, 5.25%, 07/01/25 |
165 | 193,624 | ||||||
|
|
|||||||
1,654,846 |
Security | Par (000) |
Value | ||||||
Iowa — 0.4% | ||||||||
County of Polk IA GO, 5.00%, 06/01/25 |
$ | 75 | $ | 86,976 | ||||
State of Iowa GO, 5.00%, 06/15/25 |
445 | 516,007 | ||||||
State of Iowa RB, Series A, 5.00%, 06/01/25 |
135 | 156,400 | ||||||
|
|
|||||||
759,383 | ||||||||
Kansas — 0.6% | ||||||||
Johnson
County Public Building Commission RB |
145 | 169,751 | ||||||
Series A, 5.00%, 09/01/25 |
190 | 222,433 | ||||||
Johnson County Unified School District No. 512 Shawnee Mission GO, Series B, 5.00%, 10/01/25 |
175 | 205,415 | ||||||
Sedgwick County Unified School District No. 265 Goddard GO, Series B, 5.00%, 10/01/25 |
20 | 23,417 | ||||||
State
of Kansas Department of Transportation RB |
230 | 268,496 | ||||||
Series A, 5.00%, 09/01/25 |
190 | 221,801 | ||||||
|
|
|||||||
1,111,313 | ||||||||
Louisiana — 0.5% | ||||||||
State of Louisiana GO |
||||||||
Series A, 5.00%, 09/01/25 |
200 | 233,807 | ||||||
Series B, 5.00%, 05/01/25 |
40 | 46,275 | ||||||
Series B, 5.00%, 08/01/25 |
315 | 367,016 | ||||||
State of Louisiana RB, 5.00%, 09/01/25 |
195 | 227,398 | ||||||
|
|
|||||||
874,496 | ||||||||
Maine — 0.6% | ||||||||
Maine
Governmental Facilities Authority RB, |
105 | 122,804 | ||||||
Maine
Municipal Bond Bank RB |
300 | 352,416 | ||||||
Series A, 5.00%, 09/01/25 |
215 | 251,253 | ||||||
Series B, 5.00%, 11/01/25 |
85 | 99,851 | ||||||
State of Maine GO, Series B, 5.00%, 06/01/25 |
285 | 330,508 | ||||||
|
|
|||||||
1,156,832 | ||||||||
Maryland — 4.4% | ||||||||
City
of Baltimore MD RB |
195 | 226,647 | ||||||
Series A, 5.00%, 07/01/25 |
190 | 220,936 | ||||||
County of Anne Arundel MD GOL, 5.00%, 10/01/25 |
955 | 1,120,980 | ||||||
County
of Baltimore MD GO |
475 | 546,967 | ||||||
5.00%, 08/01/25 |
125 | 145,946 | ||||||
County of Charles MD GO, 5.00%, 10/01/25 |
60 | 70,428 | ||||||
County of Frederick MD, 5.00%, 08/01/25 |
300 | 350,208 | ||||||
County
of Howard MD GO |
185 | 216,269 | ||||||
Series A, 5.00%, 02/15/25 |
240 | 275,933 | ||||||
County of Montgomery MD COP, Series B, 5.00%, 04/01/25 |
100 | 115,146 | ||||||
County of Montgomery MD GO |
||||||||
Series C, 5.00%, 10/01/25 |
100 | 117,380 | ||||||
Series D, 4.00%, 11/01/25 |
490 | 557,109 | ||||||
County of Prince George’s MD GOL |
||||||||
Series A, 5.00%, 07/15/25 |
220 | 256,493 | ||||||
Series B, 5.00%, 07/15/25 |
45 | 52,464 | ||||||
State
of Maryland Department of Transportation RB |
235 | 266,400 | ||||||
5.00%, 09/01/25 |
315 | 369,032 | ||||||
5.00%, 10/01/25 |
160 | 187,945 | ||||||
5.00%, 12/01/25 |
100 | 117,959 | ||||||
State of Maryland GO |
||||||||
Second Series A, 5.00%, 08/01/25 |
410 | 478,535 | ||||||
Second Series B, 5.00%, 08/01/25 |
305 | 355,984 |
76 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Maryland (continued) | ||||||||
Series A, 5.00%, 03/15/25 |
$ | 125 | $ | 144,083 | ||||
Series A, 5.00%, 08/01/25 |
100 | 116,716 | ||||||
Series B, 4.00%, 08/01/25 |
210 | 237,316 | ||||||
Series B, 5.00%, 08/01/25 |
675 | 787,833 | ||||||
Washington
Suburban Sanitary Commission GO |
65 | 73,149 | ||||||
5.00%, 06/01/25 (GTD) |
350 | 406,430 | ||||||
Washington
Suburban Sanitary Commission RB, |
180 | 209,021 | ||||||
|
|
|||||||
8,023,309 | ||||||||
Massachusetts — 3.3% | ||||||||
Commonwealth of Massachusetts GO, 5.00%, 01/01/25 |
205 | 234,634 | ||||||
Commonwealth of Massachusetts GOL |
||||||||
Series A, 5.00%, 07/01/25 |
195 | 226,982 | ||||||
Series B, 5.00%, 04/01/25 |
75 | 86,581 | ||||||
Series B, 5.00%, 07/01/25 |
190 | 221,162 | ||||||
Series B, 5.25%, 09/01/25 (AGM) |
375 | 442,407 | ||||||
Series C, 5.00%, 08/01/25 |
340 | 396,834 | ||||||
Series C, 5.00%, 09/01/25 |
135 | 157,988 | ||||||
Series C, 5.00%, 10/01/25 |
525 | 616,023 | ||||||
Series D, 5.00%, 07/01/25 |
330 | 384,124 | ||||||
Series E, 5.00%, 11/01/25 (AMBAC) |
90 | 105,881 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/25 |
165 | 191,475 | ||||||
Massachusetts Bay Transportation Authority RB, Series A, 5.00%, 07/01/25 |
530 | 616,987 | ||||||
Massachusetts
Clean Water Trust (The) RB |
770 | 899,026 | ||||||
Series 22, 5.00%, 08/01/25 |
70 | 81,730 | ||||||
Massachusetts Development Finance Agency RB |
||||||||
Series A, 5.00%, 07/15/25 |
185 | 215,910 | ||||||
Series A, 5.00%, 10/15/25 |
250 | 294,131 | ||||||
Massachusetts
School Building Authority RB |
120 | 137,573 | ||||||
5.00%, 02/15/25 |
150 | 172,299 | ||||||
Series C, 5.00%, 08/15/25 |
250 | 292,255 | ||||||
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue RB, 5.00%, 01/01/25 |
75 | 85,765 | ||||||
Massachusetts
Water Resources Authority RB |
135 | 157,512 | ||||||
Series B, 5.25%, 08/01/25 (AGM) |
15 | 17,640 | ||||||
Series C, 5.00%, 08/01/25 |
10 | 11,667 | ||||||
University
of Massachusetts Building Authority RB, |
25 | 29,433 | ||||||
|
|
|||||||
6,076,019 | ||||||||
Michigan — 1.1% | ||||||||
Michigan Finance Authority RB |
||||||||
Series A, 5.00%, 12/01/25 |
120 | 141,285 | ||||||
Series B, 5.00%, 10/01/25 |
295 | 346,271 | ||||||
Michigan State Building Authority RB, Series I, 5.00%, 04/15/25 |
370 | 427,546 | ||||||
State of Michigan GO |
||||||||
Series A, 5.00%, 05/01/25 |
85 | 98,239 | ||||||
Series B, 4.00%, 11/01/25 |
120 | 136,180 | ||||||
State of Michigan RB, 5.00%, 03/15/25 |
505 | 581,178 | ||||||
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/25 |
45 | 52,986 | ||||||
University of Michigan RB, Series A, 5.00%, 04/01/25 |
210 | 242,426 | ||||||
Wayne County Airport Authority RB, Series A, 5.00%, 12/01/25 |
25 | 29,291 | ||||||
|
|
|||||||
2,055,402 |
Security | Par (000) |
Value | ||||||
Minnesota — 1.3% | ||||||||
City of Minneapolis MN GO, 4.00%, 12/01/25 |
$ | 150 | $ | 170,828 | ||||
County of Hennepin MN GO, Series A, 5.00%, 12/01/25 |
250 | 295,009 | ||||||
Metropolitan Council GO, Series A, 5.00%, 03/01/25 |
65 | 74,755 | ||||||
Minneapolis-St Paul Metropolitan Airports Commission RB |
||||||||
Series A, 5.00%, 01/01/25 |
120 | 136,939 | ||||||
Series C, 5.00%, 01/01/25 |
125 | 142,644 | ||||||
Minnesota
Public Facilities Authority RB, Series A, |
110 | 126,468 | ||||||
Southern Minnesota Municipal Power Agency RB, Series A, 0.00%, 01/01/25 (NPFGC)(a) |
55 | 53,548 | ||||||
State of Minnesota GO |
||||||||
Series A, 5.00%, 08/01/25 |
240 | 280,021 | ||||||
Series A, 5.00%, 10/01/25 |
45 | 52,783 | ||||||
Series B, 5.00%, 08/01/25 |
175 | 204,182 | ||||||
Series B, 5.00%, 10/01/25 |
135 | 158,348 | ||||||
Series D, 5.00%, 08/01/25 |
260 | 303,356 | ||||||
Series E, 5.00%, 10/01/25 |
100 | 117,295 | ||||||
University of Minnesota RB, Series B, 5.00%, 10/01/25 |
150 | 176,007 | ||||||
|
|
|||||||
2,292,183 | ||||||||
Mississippi — 0.3% | ||||||||
State of Mississippi GO |
||||||||
Series B, 5.00%, 12/01/25 |
100 | 117,826 | ||||||
Series C, 5.00%, 10/01/25 |
385 | 451,260 | ||||||
|
|
|||||||
569,086 | ||||||||
Missouri — 0.5% | ||||||||
Metropolitan St Louis Sewer District RB, Series B, 5.00%, 05/01/25 |
85 | 98,432 | ||||||
Missouri Highway & Transportation Commission RB, 5.00%, 05/01/25 |
310 | 358,634 | ||||||
Missouri State Board of Public Buildings RB, Series A, 5.00%, 04/01/25 |
325 | 374,943 | ||||||
|
|
|||||||
832,009 | ||||||||
Nebraska — 0.5% | ||||||||
Nebraska Public Power District RB |
||||||||
Series A, 5.00%, 01/01/25 |
215 | 245,203 | ||||||
Series C, 5.00%, 01/01/25 |
210 | 239,500 | ||||||
Omaha Public Facilities Corp. RB, Series A, 5.00%, 06/01/25 |
50 | 57,752 | ||||||
Omaha Public Power District Nebraska City Station Unit 2 RB, Series A, 5.00%, 02/01/25 |
60 | 68,558 | ||||||
Omaha Public Power District RB, Series A, 5.00%, 02/01/25 |
225 | 257,798 | ||||||
|
|
|||||||
868,811 | ||||||||
Nevada — 2.3% | ||||||||
Clark
County School District GOL, Series A, |
625 | 721,806 | ||||||
Clark County Water Reclamation District GOL, 5.00%, 07/01/25 |
500 | 581,411 | ||||||
County of Clark Department of Aviation RB, 5.00%, 07/01/25 |
375 | 435,316 | ||||||
County
of Clark NV GOL |
170 | 199,776 | ||||||
Series A, 5.00%, 06/01/25 |
165 | 191,347 | ||||||
Series A, 5.00%, 11/01/25 |
175 | 205,652 | ||||||
Series B, 5.00%, 06/01/25 |
50 | 57,984 | ||||||
Series B, 5.00%, 12/01/25 |
255 | 300,457 | ||||||
County
of Clark NV RB |
350 | 407,265 | ||||||
Series B, 5.00%, 07/01/25 |
110 | 127,998 | ||||||
Las Vegas Valley Water District GOL, 5.00%, 06/01/25 |
110 | 127,522 | ||||||
State of Nevada GOL |
||||||||
5.00%, 05/01/25 |
135 | 155,874 | ||||||
Series A, 5.00%, 05/01/25 |
70 | 80,823 |
SCHEDULES OF INVESTMENTS |
77 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Nevada (continued) | ||||||||
State of Nevada Highway Improvement Revenue RB, 5.00%, 12/01/25 |
$ | 325 | $ | 382,503 | ||||
Washoe County School District/NV GOL |
||||||||
Series A, 5.00%, 06/01/25 |
140 | 162,084 | ||||||
Series C, 5.00%, 10/01/25 |
40 | 46,799 | ||||||
|
|
|||||||
4,184,617 | ||||||||
New Hampshire — 0.5% | ||||||||
City of Manchester NH GO, 4.00%, 06/15/25 |
250 | 280,560 | ||||||
New
Hampshire Municipal Bond Bank RB |
200 | 233,640 | ||||||
5.00%, 08/15/25 (ST INTERCEPT) |
50 | 58,410 | ||||||
Series A, 5.00%, 08/15/25 |
175 | 204,004 | ||||||
State
of New Hampshire GO, Series B, |
175 | 206,429 | ||||||
|
|
|||||||
983,043 | ||||||||
New Jersey — 2.6% | ||||||||
County of Monmouth NJ GO, 5.00%, 07/15/25 |
170 | 197,790 | ||||||
Monmouth
County Improvement Authority (The) RB |
100 | 114,901 | ||||||
5.00%, 12/01/25 (GTD) |
270 | 318,370 | ||||||
New
Jersey Economic Development Authority RB |
305 | 351,593 | ||||||
Series A, 4.13%, 06/15/25 |
170 | 190,484 | ||||||
Series B, 4.00%, 11/01/25 (SAP) |
750 | 843,600 | ||||||
Series D, 5.00%, 06/15/25 |
30 | 34,579 | ||||||
New
Jersey Educational Facilities Authority RB |
175 | 203,911 | ||||||
Series B, 5.00%, 07/01/25 |
125 | 145,650 | ||||||
Series D, 5.00%, 07/01/25 |
410 | 477,734 | ||||||
New
Jersey Infrastructure Bank RB, Series A-1, |
110 | 128,731 | ||||||
New
Jersey Transportation Trust Fund Authority RB |
30 | 34,635 | ||||||
Series A, 5.00%, 06/15/25 |
25 | 28,823 | ||||||
Series A, 5.75%, 06/15/25 (NPFGC) |
100 | 118,183 | ||||||
New Jersey Turnpike Authority RB |
||||||||
Series B, 5.00%, 01/01/25 |
115 | 131,077 | ||||||
Series C-2, 5.50%, 01/01/25 (AMBAC) |
365 | 421,744 | ||||||
State
of New Jersey GO |
615 | 707,989 | ||||||
Series A, 5.00%, 06/01/25 |
315 | 362,629 | ||||||
|
|
|||||||
4,812,423 | ||||||||
New Mexico — 0.3% | ||||||||
New Mexico Finance Authority RB, Series A, 5.00%, 06/15/25 |
135 | 156,753 | ||||||
Santa Fe Public School District GO, 5.00%, 08/01/25 (SAW) |
85 | 98,933 | ||||||
State of New Mexico GO, 5.00%, 03/01/25 |
275 | 316,467 | ||||||
State of New Mexico Severance Tax Permanent Fund RB, Series D, 5.00%, 07/01/25 |
50 | 58,141 | ||||||
|
|
|||||||
630,294 | ||||||||
New York — 9.4% | ||||||||
City
of New York NY GO |
510 | 593,803 | ||||||
Series 1, 5.00%, 08/01/25 |
425 | 494,836 | ||||||
Series A, 5.00%, 08/01/25 |
505 | 588,127 | ||||||
Series C, 4.00%, 08/01/25 |
185 | 208,549 | ||||||
Series C, 5.00%, 08/01/25 |
825 | 960,563 | ||||||
Series E, 5.00%, 08/01/25 |
200 | 232,864 | ||||||
Series F-1, 5.00%, 06/01/25 |
75 | 86,860 | ||||||
County of Monroe NY GOL, 5.00%, 06/01/25 (AGM) |
25 | 28,982 | ||||||
Hudson Yards Infrastructure Corp. RB, 4.00%, 02/15/25 |
100 | 111,746 |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Long
Island Power Authority RB |
$ | 200 | $ | 194,051 | ||||
5.00%, 09/01/25 |
130 | 152,191 | ||||||
Metropolitan
Transportation Authority RB |
70 | 82,301 | ||||||
Series A, 5.00%, 11/15/25 |
105 | 123,452 | ||||||
Series B, 5.00%, 11/15/25 |
545 | 634,079 | ||||||
Series B2, 5.00%, 11/15/25 |
215 | 252,782 | ||||||
Series C-1, 5.00%, 11/15/25 |
65 | 75,624 | ||||||
Series F, 5.00%, 11/15/25 |
230 | 267,593 | ||||||
New
York City Transitional Finance Authority Building Aid Revenue RB |
110 | 124,026 | ||||||
Series S-2A, 5.00%, 07/15/25 (SAW) |
145 | 168,799 | ||||||
Series S-3, 5.00%, 07/15/25 (SAW) |
415 | 483,115 | ||||||
Series S-4A, 5.00%, 07/15/25 (SAW) |
140 | 162,979 | ||||||
New
York City Transitional Finance Authority Future Tax Secured Revenue
RB |
100 | 112,261 | ||||||
5.00%, 02/01/25 |
50 | 57,376 | ||||||
5.00%, 08/01/25 |
275 | 320,857 | ||||||
5.00%, 11/01/25 |
145 | 170,523 | ||||||
Series A-1, 5.00%, 08/01/25 |
10 | 11,668 | ||||||
Series B-1, 5.00%, 08/01/25 |
250 | 291,688 | ||||||
Series C, 5.00%, 11/01/25 |
680 | 799,693 | ||||||
New
York City Water & Sewer System RB |
125 | 140,712 | ||||||
5.00%, 06/15/25 |
435 | 505,262 | ||||||
Series FF, 4.00%, 06/15/25 |
50 | 56,285 | ||||||
Series GG, 5.00%, 06/15/25 |
250 | 290,381 | ||||||
New
York State Dormitory Authority RB |
125 | 139,714 | ||||||
5.00%, 03/15/25 |
250 | 288,408 | ||||||
5.00%, 10/01/25 |
130 | 152,760 | ||||||
Series 1, 5.00%, 03/15/25 |
210 | 242,186 | ||||||
Series A, 5.00%, 02/15/25 |
355 | 407,899 | ||||||
Series A, 5.00%, 03/15/25 |
530 | 611,271 | ||||||
Series A, 5.00%, 07/01/25 |
290 | 335,250 | ||||||
Series B, 5.00%, 02/15/25 |
365 | 419,872 | ||||||
Series B, 5.50%, 03/15/25 (AMBAC) |
160 | 186,669 | ||||||
Series D, 5.00%, 02/15/25 |
570 | 655,124 | ||||||
Series E, 5.00%, 02/15/25 |
60 | 69,020 | ||||||
Series E, 5.00%, 03/15/25 |
500 | 576,697 | ||||||
New
York State Environmental Facilities Corp. RB |
70 | 82,236 | ||||||
Series A, 4.00%, 06/15/25 |
65 | 73,220 | ||||||
Series B, 5.00%, 06/15/25 |
200 | 232,461 | ||||||
Series D, 5.00%, 03/15/25 |
125 | 144,083 | ||||||
New
York State Thruway Authority RB |
210 | 239,857 | ||||||
Series A-1, 5.00%, 03/15/25 |
200 | 230,362 | ||||||
Series L, 5.00%, 01/01/25 |
150 | 171,326 | ||||||
New
York State Urban Development Corp. RB |
75 | 86,359 | ||||||
Series A, 5.00%, 03/15/25 |
1,135 | 1,306,894 | ||||||
Series C, 5.00%, 03/15/25 |
65 | 74,844 | ||||||
Port Authority of New York & New Jersey RB |
||||||||
Series 189, 5.00%, 05/01/25 |
120 | 138,917 | ||||||
Series 205, 5.00%, 11/15/25 |
445 | 524,168 |
78 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Triborough Bridge & Tunnel Authority RB |
||||||||
Series A, 5.00%, 11/15/25 |
$ | 155 | $ | 182,100 | ||||
Series B, 5.00%, 11/15/25 |
380 | 446,438 | ||||||
Series C-1, 5.00%, 11/15/25 |
215 | 252,590 | ||||||
|
|
|||||||
17,054,753 | ||||||||
North Carolina — 2.6% | ||||||||
City
of Charlotte NC COP |
50 | 58,957 | ||||||
Series B, 5.00%, 06/01/25 |
50 | 58,023 | ||||||
City of Charlotte NC GO, Series A, 5.00%, 07/01/25 |
85 | 99,009 | ||||||
City
of Charlotte NC Water & Sewer System RB, |
155 | 180,607 | ||||||
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/25 |
155 | 180,607 | ||||||
City of Raleigh NC GO, Series A, 5.00%, 09/01/25 |
245 | 286,923 | ||||||
County of Buncombe NC, 5.00%, 06/01/25 |
120 | 139,161 | ||||||
County of Durham NC GO, 5.00%, 10/01/25 |
250 | 293,663 | ||||||
County
of Forsyth NC GO |
185 | 213,096 | ||||||
5.00%, 07/01/25 |
55 | 64,064 | ||||||
5.00%, 12/01/25 |
200 | 236,096 | ||||||
County of Guilford NC GO, 5.00%, 03/01/25 |
350 | 403,154 | ||||||
County of Iredell NC RB, 5.00%, 12/01/25 |
25 | 29,456 | ||||||
County of Johnston NC GO, 4.00%, 02/01/25 |
140 | 156,094 | ||||||
County of Mecklenburg NC GO, 5.00%, 03/01/25 |
110 | 126,745 | ||||||
County of New Hanover NC GO, 5.00%, 08/01/25 |
100 | 116,797 | ||||||
County of Wake NC GO |
||||||||
Series A, 5.00%, 03/01/25 |
175 | 201,703 | ||||||
Series C, 5.00%, 03/01/25 |
170 | 195,940 | ||||||
County of Wake NC RB, 5.00%, 08/01/25 |
120 | 140,059 | ||||||
State
of North Carolina GO |
160 | 185,858 | ||||||
Series A, 5.00%, 06/01/25 |
185 | 214,899 | ||||||
Series B, 5.00%, 06/01/25 |
755 | 877,019 | ||||||
State
of North Carolina RB |
115 | 132,382 | ||||||
Series B, 5.00%, 05/01/25 |
125 | 144,705 | ||||||
|
|
|||||||
4,735,017 | ||||||||
Ohio — 3.0% | ||||||||
City of Cincinnati OH GO, Series A, 4.00%, 12/01/25 |
150 | 170,373 | ||||||
City of Cleveland OH GO, 5.00%, 12/01/25 |
110 | 129,122 | ||||||
City
of Columbus OH GO |
175 | 201,957 | ||||||
Series 1, 5.00%, 07/01/25 |
500 | 581,808 | ||||||
Series A, 4.00%, 04/01/25 |
170 | 190,434 | ||||||
City of Columbus OH GOL, Series B, 4.00%, 07/01/25 |
35 | 39,457 | ||||||
Cleveland Department of Public Utilities Division of Water RB, 5.00%, 01/01/25 |
200 | 228,707 | ||||||
County of Franklin OH Sales Tax Revenue RB, 5.00%, 06/01/25 |
130 | 150,758 | ||||||
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/25 |
115 | 135,755 | ||||||
Ohio State University (The) RB, 5.00%, 12/01/25 |
270 | 318,490 | ||||||
Ohio Water Development Authority RB |
||||||||
Series A, 5.00%, 06/01/25 |
125 | 144,815 | ||||||
Series A, 5.00%, 12/01/25 |
150 | 176,540 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund RB 5.00%, 12/01/25 |
150 | 176,540 |
Security | Par (000) |
Value | ||||||
Ohio (continued) | ||||||||
Series 2015-A, 5.00%, 12/01/25 |
$ | 375 | $ | 441,349 | ||||
Series B, 5.00%, 12/01/25 |
55 | 64,731 | ||||||
State
of Ohio GO |
455 | 530,503 | ||||||
5.00%, 08/01/25 (ETM) |
5 | 5,822 | ||||||
5.00%, 09/01/25 |
115 | 134,439 | ||||||
Series A, 5.00%, 06/15/25 |
250 | 290,283 | ||||||
Series A, 5.00%, 09/01/25 |
65 | 75,987 | ||||||
Series A, 5.00%, 09/15/25 |
95 | 111,193 | ||||||
Series B, 5.00%, 09/01/25 |
185 | 216,271 | ||||||
Series B, 5.00%, 09/15/25 |
175 | 204,829 | ||||||
Series S, 5.00%, 05/01/25 |
50 | 57,825 | ||||||
Series V, 5.00%, 05/01/25 |
130 | 150,346 | ||||||
State
of Ohio RB |
250 | 287,866 | ||||||
Series A, 5.00%, 02/01/25 |
50 | 57,254 | ||||||
Series C, 5.00%, 12/01/25 |
145 | 170,527 | ||||||
|
|
|||||||
5,443,981 | ||||||||
Oklahoma — 0.7% | ||||||||
City of Oklahoma City OK GO, 5.00%, 03/01/25 |
95 | 109,427 | ||||||
Grand River Dam Authority RB |
||||||||
Series A, 4.00%, 06/01/25 |
35 | 39,295 | ||||||
Series A, 5.00%, 06/01/25 |
305 | 353,230 | ||||||
Oklahoma
Capitol Improvement Authority RB, |
110 | 123,326 | ||||||
Oklahoma
City Water Utilities Trust RB, |
355 | 413,084 | ||||||
Oklahoma
Turnpike Authority RB, Series E, |
110 | 125,901 | ||||||
Oklahoma
Water Resources Board RB, |
100 | 115,404 | ||||||
|
|
|||||||
1,279,667 | ||||||||
Oregon — 1.1% | ||||||||
City of Eugene OR Electric Utility System Revenue RB, Series A, 5.00%, 08/01/25 |
15 | 17,428 | ||||||
City of Portland OR Sewer System Revenue RB, Series A, 5.00%, 06/15/25 |
145 | 168,421 | ||||||
Multnomah
County School District No. 1 Portland/OR GO |
100 | 116,113 | ||||||
Series B, 5.00%, 06/15/25 (GTD) |
150 | 174,170 | ||||||
Portland Community College District GO, 5.00%, 06/15/25 |
280 | 325,117 | ||||||
State of Oregon Department of Transportation RB |
||||||||
Series A, 5.00%, 11/15/25 |
195 | 229,435 | ||||||
Series C, 5.00%, 11/15/25 |
100 | 117,659 | ||||||
State
of Oregon GO |
495 | 572,471 | ||||||
Series H, 5.00%, 08/01/25 |
195 | 227,358 | ||||||
Series L, 5.00%, 08/01/25 |
50 | 58,297 | ||||||
|
|
|||||||
2,006,469 | ||||||||
Pennsylvania — 2.8% | ||||||||
City of Philadelphia PA GO, Series A, 5.00%, 08/01/25 |
255 | 296,385 | ||||||
City
of Philadelphia PA Water & Wastewater Revenue RB |
600 | 703,516 | ||||||
Series B, 5.00%, 11/01/25 |
100 | 117,559 | ||||||
Commonwealth
of Pennsylvania GO |
70 | 81,499 | ||||||
5.00%, 09/15/25 (AGM) |
20 | 23,451 | ||||||
First Series, 5.00%, 01/01/25 |
230 | 263,013 | ||||||
First Series, 5.00%, 02/01/25 (AGM) |
220 | 252,684 | ||||||
First Series, 5.00%, 08/15/25 |
360 | 420,256 | ||||||
First Series, 5.00%, 09/15/25 |
550 | 643,748 |
SCHEDULES OF INVESTMENTS |
79 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Pennsylvania (continued) | ||||||||
Second Series, 5.00%, 09/15/25 |
$ | 470 | $ | 550,112 | ||||
Series D, 5.00%, 08/15/25 |
100 | 116,738 | ||||||
County of Bucks PA GO, 5.00%, 06/01/25 |
140 | 162,355 | ||||||
Delaware County Authority RB, 5.00%, 12/01/25 |
60 | 70,430 | ||||||
Delaware River Joint Toll Bridge Commission RB, 5.00%, 07/01/25 |
100 | 115,966 | ||||||
Delaware River Port Authority RB, Series B, 5.00%, 01/01/25 |
220 | 251,129 | ||||||
Pennsylvania State University (The) RB, 5.25%, 08/15/25 |
90 | 106,018 | ||||||
Pennsylvania Turnpike Commission RB |
||||||||
Series A, 5.00%, 12/01/25 |
370 | 434,320 | ||||||
Series A2, 5.00%, 12/01/25 |
305 | 358,020 | ||||||
Series B, 5.00%, 06/01/25 |
170 | 195,965 | ||||||
|
|
|||||||
5,163,164 | ||||||||
Rhode Island — 0.6% | ||||||||
Rhode Island Commerce Corp., 5.00%, 06/15/25 |
190 | 219,947 | ||||||
Rhode Island Commerce Corp. RB, Series B, 5.00%, 06/15/25 |
360 | 417,444 | ||||||
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB, Series B, 5.00%, 10/01/25 |
135 | 158,406 | ||||||
State
of Rhode Island GO |
200 | 229,288 | ||||||
Series A, 5.00%, 08/01/25 |
80 | 93,405 | ||||||
|
|
|||||||
1,118,490 | ||||||||
South Carolina — 0.5% | ||||||||
City of Columbia SC Waterworks & Sewer System Revenue RB, Series B, 5.00%, 02/01/25 |
265 | 303,906 | ||||||
County of Charleston SC GO, 5.00%, 11/01/25 (SAW) |
260 | 306,218 | ||||||
Fort Mill School District No. 4 GO, Series A, 5.00%, 03/01/25, (SCSDE) |
100 | 115,007 | ||||||
State of South Carolina GO, 5.00%, 04/01/25 |
125 | 144,393 | ||||||
|
|
|||||||
869,524 | ||||||||
Tennessee — 2.4% | ||||||||
City of Memphis TN Electric System Revenue RB, 5.00%, 12/01/25 |
50 | 58,869 | ||||||
City of Memphis TN GO, Series A, 5.00%, 12/01/25 |
210 | 247,621 | ||||||
City of Memphis TN Sanitary Sewerage System Revenue RB, 5.00%, 10/01/25 |
200 | 234,421 | ||||||
County of Blount TN GO, 5.00%, 06/01/25 |
410 | 475,468 | ||||||
County
of Hamilton TN GO |
335 | 374,568 | ||||||
Series A, 5.00%, 04/01/25 |
150 | 173,216 | ||||||
County of Montgomery TN GO, 5.00%, 04/01/25 |
130 | 150,025 | ||||||
County
of Shelby TN GO |
250 | 288,510 | ||||||
Series A, 5.00%, 04/01/25 |
135 | 155,795 | ||||||
County of Sumner TN GO, 5.00%, 12/01/25 |
150 | 176,939 | ||||||
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/25 |
145 | 168,018 | ||||||
Metropolitan
Government of Nashville & Davidson County TN GO |
350 | 400,237 | ||||||
5.00%, 07/01/25 |
225 | 261,635 | ||||||
Series A, 5.00%, 07/01/25 |
140 | 162,795 | ||||||
Metropolitan
Government of Nashville & Davidson County TN Water &
Sewer Revenue RB |
45 | 52,363 | ||||||
Series B, 5.00%, 07/01/25 |
105 | 122,180 | ||||||
State of Tennessee GO, Series A, 5.00%, 08/01/25 |
180 | 210,235 |
Security | Par (000) |
Value | ||||||
Tennessee (continued) | ||||||||
Tennessee State School Bond Authority RB |
||||||||
Series A, 5.00%, 11/01/25 (NPFGC) |
$ | 280 | $ | 329,529 | ||||
Series B, 5.00%, 11/01/25 |
260 | 305,991 | ||||||
|
|
|||||||
4,348,415 | ||||||||
Texas — 10.8% | ||||||||
Alamo Regional Mobility Authority RB, 5.00%, 06/15/25 |
180 | 208,301 | ||||||
Aldine Independent School District GOL, 5.00%, 02/15/25 |
125 | 143,406 | ||||||
Alvin Independent School District/TX GO, 5.00%, 02/15/25 (PSF) |
230 | 263,948 | ||||||
Arlington
Independent School District/TX GO |
35 | 40,215 | ||||||
Series B, 5.00%, 02/15/25 (PSF) |
100 | 114,901 | ||||||
Austin
Independent School District GO |
335 | 390,319 | ||||||
Series B, 5.00%, 08/01/25 (PSF) |
150 | 174,769 | ||||||
Birdville
Independent School District GO, Series B, |
80 | 91,723 | ||||||
Board of Regents of the University of Texas System RB, Series C, 5.00%, 08/15/25 |
200 | 233,558 | ||||||
Central Texas Regional Mobility Authority RB, 5.00%, 01/01/25. |
135 | 153,553 | ||||||
City of Arlington TX GOL, 5.00%, 08/15/25 |
85 | 99,367 | ||||||
City of Austin TX GOL, 5.00%, 09/01/25 |
190 | 222,353 | ||||||
City of Austin TX Water & Wastewater System Revenue RB, 5.00%, 11/15/25 |
75 | 88,113 | ||||||
City of Austin/TX GOL, 5.00%, 09/01/25 |
235 | 275,016 | ||||||
City
of Dallas TX Waterworks & Sewer System Revenue RB |
195 | 228,726 | ||||||
Series A, 5.00%, 10/01/25 |
100 | 117,295 | ||||||
City of Frisco TX GOL, 5.00%, 02/15/25 |
90 | 103,347 | ||||||
City of Houston TX Airport System Revenue RB, Series D, 5.00%, 07/01/25 |
65 | 75,455 | ||||||
City of Houston TX Combined Utility System Revenue RB |
||||||||
Series A, 0.00%, 12/01/25 (AGM)(a) |
20 | 19,332 | ||||||
Series B, 5.00%, 11/15/25 |
300 | 353,108 | ||||||
Series D, 5.00%, 11/15/25 |
225 | 264,831 | ||||||
City of McKinney TX Waterworks & Sewer System Revenue RB, 5.00%, 03/15/25 |
15 | 17,268 | ||||||
City
of Plano TX GOL |
170 | 198,806 | ||||||
Series A, 5.00%, 09/01/25 |
95 | 111,098 | ||||||
City
of San Antonio TX Electric & Gas Systems Revenue RB |
510 | 584,520 | ||||||
Series ETM, 5.00%, 02/01/25 (ETM) |
50 | 57,323 | ||||||
City of San Antonio TX GOL, 5.00%, 08/01/25 |
450 | 525,039 | ||||||
Clear Creek Independent School District GO, 5.00%, 02/15/25 (PSF) |
120 | 137,882 | ||||||
County of Bexar TX GOL, 5.00%, 06/15/25 |
70 | 81,307 | ||||||
County of Bexar TX RB, 5.00%, 06/15/25 |
260 | 301,996 | ||||||
County of Denton TX GOL, 5.00%, 05/15/25 |
75 | 86,791 | ||||||
County of Fort Bend TX GO, Series A, 5.00%, 03/01/25 |
100 | 115,007 | ||||||
County of Harris TX GOL, Series B, 5.00%, 10/01/25 |
390 | 457,286 | ||||||
County
of Harris TX RB |
175 | 204,291 | ||||||
Series A, 5.00%, 08/15/25 |
235 | 274,334 | ||||||
County of Montgomery TX GO, Series A, 5.00%, 03/01/25 |
100 | 114,935 | ||||||
Cypress-Fairbanks Independent School District GO, 5.00%, 02/15/25 (PSF) |
225 | 258,449 | ||||||
Dallas Area Rapid Transit RB, 5.00%, 12/01/25 |
165 | 194,340 | ||||||
Dallas Fort Worth International Airport RB, 5.00%, 11/01/25 |
230 | 269,787 |
80 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Dallas
Independent School District GO, Series A, |
$ | 390 | $ | 447,563 | ||||
Denton
Independent School District GO, |
290 | 338,540 | ||||||
Fort
Worth Independent School District GO, |
395 | 453,161 | ||||||
Frisco Independent School District GO, Series A, 5.00%, 08/15/25 (PSF) |
300 | 350,091 | ||||||
Grapevine-Colleyville Independent School District GO, 0.00%, 08/15/25 (PSF)(a) |
200 | 195,156 | ||||||
Judson Independent School District GO, 5.00%, 02/01/25 (PSF) |
135 | 154,726 | ||||||
Katy Independent School District GO |
||||||||
Series A, 5.00%, 02/15/25 (PSF) |
105 | 120,572 | ||||||
Series D, 5.00%, 02/15/25 (PSF) |
35 | 40,191 | ||||||
Keller Independent School District/TX GO, Series A, 5.00%, 02/15/25 (PSF) |
105 | 120,349 | ||||||
Killeen
Independent School District GO, |
65 | 74,640 | ||||||
Klein
Independent School District GO, Series A, |
40 | 46,492 | ||||||
Leander
Independent School District GO |
330 | 322,371 | ||||||
Series A, 5.00%, 08/15/25 (PSF) |
125 | 145,820 | ||||||
Series B, 0.00%, 08/15/25(a) |
100 | 96,991 | ||||||
Lewisville
Independent School District GO |
160 | 186,715 | ||||||
Series B, 5.00%, 08/15/25 |
130 | 151,759 | ||||||
Lone
Star College System GOL, Series B, |
270 | 309,756 | ||||||
Lower
Colorado River Authority RB |
65 | 75,145 | ||||||
Series D, 5.00%, 05/15/25 |
130 | 150,290 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Series B, 5.00%, 11/01/25 |
125 | 146,948 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue RB, 5.00%, 11/01/25 |
220 | 258,629 | ||||||
North East Independent School District/TX GO, 5.00%, 08/01/25 (PSF) |
305 | 355,736 | ||||||
North Texas Municipal Water District RB, 5.00%, 06/01/25 |
200 | 230,702 | ||||||
North Texas Municipal Water District Upper East Fork Wastewater Interceptor System, 5.00%, 06/01/25 |
25 | 28,924 | ||||||
North
Texas Municipal Water District Water System Revenue RB, |
240 | 279,872 | ||||||
North
Texas Tollway Authority RB, Series A, |
205 | 233,937 | ||||||
Northside
Independent School District GO, Series A, |
85 | 99,297 | ||||||
Northwest
Independent School District, |
45 | 51,730 | ||||||
Northwest
Independent School District GO, Series B, |
40 | 45,791 | ||||||
Permanent University Fund - Texas A&M University System RB, Series A, 5.00%, 07/01/25 |
175 | 203,702 | ||||||
Permanent University Fund - University of Texas System RB |
||||||||
Series A, 5.00%, 07/01/25 |
215 | 249,836 | ||||||
Series B, 5.00%, 07/01/25 |
115 | 133,679 | ||||||
Rockwall Independent School District GO, 5.00%, 02/15/25 (PSF) |
110 | 126,236 | ||||||
Round
Rock Independent School District GO |
60 | 69,981 | ||||||
Series A, 5.00%, 08/01/25 (PSF) |
120 | 139,962 |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
San
Antonio Independent School District/TX GO |
$ | 235 | $ | 269,769 | ||||
5.00%, 08/15/25 (PSF) |
170 | 198,384 | ||||||
San Antonio Water System RB |
||||||||
Series A, 5.00%, 05/15/25 |
125 | 144,652 | ||||||
Series C, 5.00%, 05/15/25 |
70 | 81,005 | ||||||
Spring Independent School District GO, 5.00%, 08/15/25 (PSF) |
215 | 250,545 | ||||||
State
of Texas GO |
245 | 282,649 | ||||||
5.00%, 08/01/25 |
190 | 221,606 | ||||||
5.00%, 10/01/25 |
55 | 64,489 | ||||||
Series A, 5.00%, 04/01/25 |
155 | 178,819 | ||||||
Series A, 5.00%, 08/01/25 |
190 | 221,606 | ||||||
Tarrant Regional Water District Water Supply System Revenue RB, 5.00%, 03/01/25 |
135 | 155,405 | ||||||
Texas A&M University RB, Series C, 5.00%, 05/15/25 |
195 | 226,030 | ||||||
Texas State Technical College RB, 4.00%, 10/15/25 |
100 | 113,574 | ||||||
Texas State University System RB, 5.00%, 03/15/25 |
275 | 316,284 | ||||||
Texas Tech University System, 5.00%, 02/15/25 |
210 | 240,996 | ||||||
Texas
Transportation Commission State Highway Fund RB |
285 | 331,101 | ||||||
First Series, 5.00%, 10/01/25 |
50 | 58,605 | ||||||
Series A, 5.00%, 10/01/25 |
630 | 738,425 | ||||||
Texas Water Development Board RB |
||||||||
Series A, 5.00%, 04/15/25 |
125 | 144,581 | ||||||
Series A, 5.00%, 10/15/25 |
215 | 252,768 | ||||||
Series B, 5.00%, 04/15/25 |
175 | 202,414 | ||||||
Series B, 5.00%, 10/15/25 |
220 | 258,646 | ||||||
Tyler Independent School District GO, 5.00%, 02/15/25 (PSF) |
175 | 200,644 | ||||||
University of North Texas System RB, Series A, 5.00%, 04/15/25 |
100 | 115,218 | ||||||
University
of Texas System (The) RB |
145 | 169,329 | ||||||
Series E, 5.00%, 08/15/25 |
115 | 134,296 | ||||||
Series H, 5.00%, 08/15/25 |
75 | 87,584 | ||||||
|
|
|||||||
19,746,809 | ||||||||
Utah — 0.9% | ||||||||
Davis School District GO, Series B, 5.00%, 06/01/25 |
40 | 46,403 | ||||||
Ogden City School District GO, 5.00%, 06/15/25 (GTD) |
110 | 127,724 | ||||||
State of Utah GO, 5.00%, 07/01/25 |
330 | 384,518 | ||||||
University of Utah (The) RB |
||||||||
Series A, 4.00%, 08/01/25 |
75 | 84,636 | ||||||
Series A, 5.00%, 08/01/25 |
110 | 128,209 | ||||||
Series B1, 5.00%, 08/01/25 (SAP) |
25 | 29,138 | ||||||
Utah State Building Ownership Authority RB, 5.00%, 05/15/25 . |
460 | 531,794 | ||||||
Utah Water Finance Agency RB, Series A, 5.00%, 03/01/25 |
190 | 218,037 | ||||||
|
|
|||||||
1,550,459 | ||||||||
Vermont — 0.1% | ||||||||
University of Vermont & State Agricultural College RB, 5.00%, 10/01/25 |
40 | 46,698 | ||||||
Vermont Municipal Bond Bank RB, Series 5, 5.00%, 12/01/25 |
115 | 135,704 | ||||||
|
|
|||||||
182,402 | ||||||||
Virginia — 4.5% | ||||||||
City of Alexandria VA GO, Series D, 5.00%, 07/01/25 (SAW) |
140 | 163,073 | ||||||
City of Charlottesville VA GO, 4.00%, 07/15/25 (SAW) |
125 | 141,005 | ||||||
City of Norfolk VA GO, Series A, 5.00%, 10/01/25 |
145 | 169,893 | ||||||
City of Norfolk VA Water Revenue RB, Series B, 5.00%, 11/01/25 |
125 | 146,515 |
SCHEDULES OF INVESTMENTS |
81 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Virginia (continued) | ||||||||
City of Richmond VA GO, Series B, 5.00%, 07/15/25 (SAW) |
$ | 35 | $ | 40,792 | ||||
City of Richmond VA Public Utility Revenue RB, 5.00%, 01/15/25 |
100 | 114,610 | ||||||
City of Virginia Beach VA Water & Sewer System Revenue RB, 5.00%, 10/01/25 |
100 | 117,125 | ||||||
Commonwealth of Virginia GO, Series B, 5.00%, 06/01/25 |
75 | 86,947 | ||||||
County of Arlington VA GO |
||||||||
Series A, 5.00%, 08/01/25 (SAW) |
50 | 58,460 | ||||||
Series B, 5.00%, 08/15/25 |
75 | 87,800 | ||||||
County of Chesterfield VA Water & Sewer Revenue RB, 5.00%, 11/01/25 |
200 | 235,465 | ||||||
County of Fairfax VA GO, Series A, 5.00%, 10/01/25 (SAW) |
175 | 205,192 | ||||||
County
of Henrico VA GO |
50 | 58,274 | ||||||
Series A, 5.00%, 08/01/25 (SAW) |
500 | 583,580 | ||||||
Hampton Roads Sanitation District RB, Series A, 4.00%, 08/01/25 |
65 | 73,507 | ||||||
Loudoun County Sanitation Authority RB, 5.00%, 01/01/25 |
35 | 40,059 | ||||||
Virginia Beach Development Authority RB, 5.00%, 04/01/25 |
150 | 172,719 | ||||||
Virginia
College Building Authority RB |
450 | 526,439 | ||||||
Series A, 5.00%, 02/01/25 |
55 | 63,094 | ||||||
Series A, 5.00%, 02/01/28 (PR 02/01/25) |
125 | 143,527 | ||||||
Series A, 5.00%, 02/01/30 (PR 02/01/25) |
300 | 344,465 | ||||||
Series B, 5.00%, 09/01/25 |
195 | 228,124 | ||||||
Series E, 5.00%, 02/01/25 |
410 | 470,338 | ||||||
Virginia
Commonwealth Transportation Board RB |
845 | 972,773 | ||||||
5.00%, 05/15/25 |
30 | 34,728 | ||||||
5.00%, 09/15/25 |
130 | 152,104 | ||||||
Series A, 5.00%, 05/15/25 |
255 | 295,188 | ||||||
Virginia
Public Building Authority RB |
140 | 163,289 | ||||||
Series A, 5.00%, 08/01/25 |
170 | 198,279 | ||||||
Series B, 5.00%, 08/01/25 |
445 | 519,024 | ||||||
Virginia
Public School Authority RB |
240 | 275,673 | ||||||
5.00%, 08/01/25 (SAW) |
50 | 58,216 | ||||||
Series A, 5.00%, 08/01/25 |
200 | 233,188 | ||||||
Series B, 5.00%, 08/01/25 |
255 | 297,315 | ||||||
Series C, 5.00%, 08/01/25 |
110 | 128,253 | ||||||
Virginia
Resources Authority RB |
410 | 481,552 | ||||||
Series C, 5.00%, 11/01/25 |
30 | 35,255 | ||||||
Series D, 4.00%, 11/01/25 |
55 | 62,462 | ||||||
|
|
|||||||
8,178,302 | ||||||||
Washington — 5.3% | ||||||||
Central
Puget Sound Regional Transit Authority RB |
150 | 176,403 | ||||||
Series S-1, 5.00%, 11/01/25 |
390 | 458,648 | ||||||
City of Seattle WA Drainage & Wastewater Revenue RB, 5.00%, 07/01/25 |
90 | 104,690 | ||||||
City
of Seattle WA GOL |
125 | 145,056 | ||||||
5.00%, 12/01/25 |
225 | 265,308 | ||||||
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
Series B, 5.00%, 02/01/25 |
80 | 91,745 | ||||||
Series B, 5.00%, 04/01/25 |
115 | 132,630 | ||||||
Series C, 5.00%, 09/01/25 |
215 | 251,342 |
Security | Par (000) |
Value | ||||||
Washington (continued) | ||||||||
City
of Seattle WA Water System Revenue RB |
$ | 300 | $ | 347,179 | ||||
5.00%, 08/01/25 |
225 | 262,519 | ||||||
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/25 |
105 | 119,964 | ||||||
City of Vancouver WA GOL, Series B, 5.00%, 12/01/25 |
140 | 164,957 | ||||||
Clark County Public Utility District No. 1 RB, 5.00%, 01/01/25 |
185 | 211,002 | ||||||
Clark County School District No. 114 Evergreen GO, 5.00%, 12/01/25 |
210 | 247,714 | ||||||
Clark County School District No. 122 Ridgefield GO, 5.00%, 12/01/25 |
55 | 64,683 | ||||||
County
of King WA GOL |
70 | 81,509 | ||||||
5.00%, 12/01/25 |
115 | 135,704 | ||||||
County of King WA Sewer Revenue, 5.00%, 01/01/25 |
200 | 228,979 | ||||||
County of Kitsap WA GOL, 5.00%, 06/01/25 |
40 | 46,387 | ||||||
County of Pierce WA GO, 5.00%, 08/01/25 |
100 | 116,310 | ||||||
County of Pierce WA GOL, Series A, 5.00%, 07/01/25 |
40 | 46,402 | ||||||
County of Spokane WA GOL, Series B, 5.00%, 12/01/25 |
115 | 135,347 | ||||||
Energy Northwest RB |
||||||||
Series A, 5.00%, 07/01/25 |
485 | 564,739 | ||||||
Series C, 5.00%, 07/01/25 |
710 | 826,731 | ||||||
King County School District No. 405 Bellevue GO, 5.00%, 12/01/25 (GTD) |
110 | 129,706 | ||||||
Kitsap County School District No. 401 Central Kitsap GO, 5.00%, 12/01/25 |
130 | 152,886 | ||||||
Pierce County School District No 10 Tacoma GO, 5.00%, 12/01/25 |
195 | 229,761 | ||||||
Pierce County School District No 402 Franklin Pierce GO, 5.00%, 12/01/25 |
105 | 123,485 | ||||||
Port of Seattle WA RB, 4.00%, 02/01/25 |
110 | 122,343 | ||||||
Port of Tacoma WA RB, Series A, 4.00%, 12/01/25 |
115 | 130,122 | ||||||
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/25, (SCH BD GTY) |
125 | 147,283 | ||||||
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/25 |
50 | 58,692 | ||||||
Spokane County School District No. 356 Central Valley GO, 5.00%, 12/01/25 |
50 | 58,869 | ||||||
State
of Washington COP |
175 | 199,821 | ||||||
5.00%, 07/01/25 (ST INTERCEPT) |
240 | 278,602 | ||||||
Series C, 5.00%, 07/01/25 |
45 | 52,238 | ||||||
State
of Washington GO |
240 | 275,236 | ||||||
Series A, 5.00%, 08/01/25 |
145 | 169,062 | ||||||
Series A-1, 5.00%, 08/01/25 |
120 | 139,913 | ||||||
Series B, 5.00%, 06/01/25 |
135 | 156,556 | ||||||
Series B, 5.00%, 08/01/25 |
100 | 116,594 | ||||||
Series D, 5.00%, 02/01/25 |
35 | 40,139 | ||||||
Series D, 5.00%, 06/01/25 |
750 | 869,759 | ||||||
Series F, 0.00%, 12/01/25 (AMBAC)(a) |
240 | 232,177 | ||||||
Series R-2018C, 5.00%, 08/01/25 |
110 | 128,254 | ||||||
Series R-2018D, 5.00%, 08/01/25 |
250 | 291,485 | ||||||
University
of Washington RB |
155 | 178,876 | ||||||
Series B, 4.00%, 06/01/25 |
175 | 196,874 | ||||||
|
|
|||||||
9,704,681 | ||||||||
West Virginia — 0.5% | ||||||||
State of West Virginia GO, Series A, 5.00%, 06/01/25 |
425 | 493,192 |
82 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
West Virginia (continued) | ||||||||
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/25 |
$ | 140 | $ | 163,085 | ||||
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/25 |
170 | 197,007 | ||||||
|
|
|||||||
853,284 | ||||||||
Wisconsin — 1.4% | ||||||||
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/25 |
560 | 649,636 | ||||||
State of Wisconsin GO |
||||||||
Series 2, 4.00%, 11/01/25 |
120 | 135,874 | ||||||
Series 2, 5.00%, 11/01/25 |
485 | 568,268 | ||||||
Series A, 5.00%, 05/01/25 |
245 | 282,606 | ||||||
Series B, 5.00%, 05/01/25 |
250 | 288,373 | ||||||
State of Wisconsin RB, Series A, 5.00%, 05/01/25 |
85 | 98,303 | ||||||
Wisconsin Department of Transportation RB |
||||||||
Series 1, 5.00%, 07/01/25 |
235 | 273,730 | ||||||
Series 2, 5.00%, 07/01/25 |
290 | 337,794 | ||||||
|
|
|||||||
2,634,584 | ||||||||
|
|
|||||||
Total
Municipal Debt Obligations — 98.7% |
180,167,754 | |||||||
|
|
Security | Shares (000) |
Value | ||||||
Short-Term Investments |
| |||||||
Money Market Funds — 0.1% | ||||||||
BlackRock Liquidity Funds: MuniCash, 0.01%(b)(c) |
161 | $ | 160,825 | |||||
|
|
|||||||
Total
Short-Term Investments — 0.1% |
|
160,825 | ||||||
|
|
|||||||
Total
Investments in Securities — 98.8% |
|
180,328,579 | ||||||
Other Assets, Less Liabilities — 1.2% |
|
2,161,767 | ||||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 182,490,346 | |||||
|
|
(a) |
Zero-coupon bond. |
(b) |
Affiliate of the Fund. |
(c) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 133,561 | $ | 26,588 | (a) | $ | — | $ | 688 | $ | (12 | ) | $ | 160,825 | 161 | $ | 44 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 180,167,754 | $ | — | $ | 180,167,754 | ||||||||
Money Market Funds |
160,825 | — | — | 160,825 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 160,825 | $ | 180,167,754 | $ | — | $ | 180,328,579 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULES OF INVESTMENTS |
83 |
Schedule of Investments October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations | ||||||||
Alabama — 1.3% | ||||||||
Alabama
Federal Aid Highway Finance Authority |
$ | 100 | $ | 120,735 | ||||
Series B, 5.00%, 09/01/26 |
365 | 440,683 | ||||||
Alabama Highway Finance Corp., 5.00%, 08/01/26 |
90 | 108,116 | ||||||
Alabama Public School and College Authority RB |
||||||||
Series B, 5.00%, 01/01/26 (Call 07/01/24) |
215 | 241,006 | ||||||
Series C, 5.00%, 06/01/26 (Call 12/01/24) |
150 | 171,034 | ||||||
State
of Alabama GO |
100 | 117,977 | ||||||
Series C, 5.00%, 08/01/27 (Call 08/01/26) |
210 | 250,823 | ||||||
University
of Alabama (The) RB, Series C, |
110 | 131,710 | ||||||
|
|
|||||||
1,582,084 | ||||||||
Arizona — 2.1% | ||||||||
Arizona Department of Transportation State Highway Fund Revenue RB, 5.00%, 07/01/26 |
215 | 257,872 | ||||||
Arizona State University RB |
||||||||
Series A, 5.00%, 07/01/26 |
25 | 29,947 | ||||||
Series B, 5.00%, 07/01/29 (Call 07/01/26) |
100 | 119,082 | ||||||
Arizona
Transportation Board RB, Series A, |
170 | 203,466 | ||||||
City
of Phoenix AZ GO |
100 | 115,354 | ||||||
5.00%, 07/01/26 |
275 | 329,836 | ||||||
5.00%, 07/01/27 (Call 07/01/26) |
185 | 221,513 | ||||||
City
of Phoenix Civic Improvement Corp. RB |
305 | 363,340 | ||||||
5.00%, 07/01/30 (Call 07/01/26) |
200 | 237,649 | ||||||
5.50%, 07/01/26 (NPFGC) |
40 | 48,076 | ||||||
City
of Tucson AZ Water System Revenue RB, |
100 | 119,940 | ||||||
Salt
River Project Agricultural Improvement & Power District
RB |
140 | 165,325 | ||||||
Series A, 5.00%, 01/01/26 |
145 | 171,230 | ||||||
State of Arizona Lottery Revenue RB, 5.00%, 07/01/26 |
100 | 119,966 | ||||||
University
of Arizona (The) RB, Series A, |
105 | 119,611 | ||||||
|
|
|||||||
2,622,207 | ||||||||
Arkansas — 0.0% | ||||||||
State of Arkansas GO, 5.00%, 10/01/26 (Call 10/01/24) |
20 | 22,578 | ||||||
|
|
|||||||
California — 14.8% | ||||||||
Alvord
Unified School District GO, Series B, |
55 | 52,201 | ||||||
California
Infrastructure & Economic Development Bank RB |
100 | 121,514 | ||||||
5.00%, 10/01/28 (Call 04/01/26) |
40 | 47,523 | ||||||
California
State Public Works Board RB |
150 | 172,843 | ||||||
5.00%, 09/01/26 |
75 | 90,393 | ||||||
5.00%, 04/01/29 (Call 10/01/26) |
125 | 150,880 | ||||||
Series B, 5.00%, 04/01/26 |
50 | 59,524 | ||||||
Series B, 5.00%, 10/01/26 (Call 10/01/24) |
105 | 118,774 | ||||||
Series C, 5.00%, 11/01/27 (Call 11/01/26) |
70 | 84,577 | ||||||
Series D, 4.00%, 04/01/28 (Call 10/01/26) |
250 | 288,815 | ||||||
California State University RB |
||||||||
Series A, 5.00%, 11/01/26 |
320 | 388,389 | ||||||
Series A, 5.00%, 11/01/26 (Call 11/01/25) |
125 | 147,165 | ||||||
Series A, 5.00%, 11/01/28 (Call 05/01/26) |
105 | 125,059 | ||||||
Carlsbad
Unified School District GO, |
80 | 96,062 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
City
of Los Angeles Department of Airports RB, |
$ | 75 | $ | 89,615 | ||||
City of San Francisco CA Public Utilities Commission Water Revenue RB 5.00%, 11/01/27 (Call 11/01/26) |
210 | 254,419 | ||||||
5.00%, 11/01/28 (Call 11/01/26) |
150 | 181,564 | ||||||
5.00%, 11/01/29 (Call 11/01/26) |
285 | 344,659 | ||||||
Series D, 5.00%, 11/01/26 |
100 | 121,262 | ||||||
Contra Costa Water District RB, Series U, 5.00%, 10/01/26 |
50 | 60,784 | ||||||
East Bay Municipal Utility District Water System Revenue RB, 5.00%, 06/01/26 |
150 | 180,070 | ||||||
East
Side Union High School District GO, |
275 | 328,648 | ||||||
El
Camino Community College District GO, Series C, |
50 | 47,951 | ||||||
Escondido
Union High School District GO, Series A, |
40 | 38,234 | ||||||
Evergreen School District GO, 0.00%, 08/01/26 (AGC)(a) |
80 | 76,360 | ||||||
Folsom
Cordova Unified School District School Facilities Improvement Dist
No. 4 GO, Series A, |
100 | 94,634 | ||||||
Grossmont Union High School District GO, 0.00%, 08/01/26 |
||||||||
(AGM)(a) |
90 | 85,703 | ||||||
Long Beach Unified School District GO, 5.00%, 08/01/27 |
||||||||
(Call 08/01/26) |
175 | 211,257 | ||||||
Los Angeles Community College District/CA GO |
||||||||
Series C, 5.00%, 06/01/26 |
75 | 89,997 | ||||||
Series G, 5.00%, 08/01/26 (PR 08/01/24) |
70 | 78,858 | ||||||
Series I, 4.00%, 08/01/26 |
100 | 115,923 | ||||||
Series I, 4.00%, 08/01/29 (Call 08/01/26) |
90 | 103,884 | ||||||
Los Angeles County Metropolitan Transportation Authority RB 5.00%, 07/01/26 |
170 | 204,768 | ||||||
5.00%, 07/01/26 (Call 07/01/25) |
140 | 163,296 | ||||||
5.00%, 06/01/27 (Call 06/01/26) |
100 | 119,896 | ||||||
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
120 | 143,755 | ||||||
Series A, 5.00%, 06/01/30 (Call 06/01/26) |
100 | 119,546 | ||||||
Los Angeles County Public Works Financing Authority RB |
||||||||
Series A, 5.00%, 12/01/26 (Call 12/01/24) |
70 | 79,770 | ||||||
Series S, 5.00%, 10/01/29 (Call 10/01/26) |
300 | 360,182 | ||||||
Los Angeles Department of Water & Power RB, Series A, 5.00%, 07/01/26 |
210 | 252,518 | ||||||
Los Angeles Department of Water & Power System Revenue RB |
||||||||
Series A, 5.00%, 07/01/26 |
105 | 126,259 | ||||||
Series B, 5.00%, 07/01/26 (Call 06/01/26) |
30 | 35,969 | ||||||
Los
Angeles Department of Water RB |
150 | 180,677 | ||||||
Series A, 5.00%, 07/01/26 (Call 07/01/24) |
20 | 22,493 | ||||||
Series A, 5.00%, 07/01/29 (Call 01/01/26) |
130 | 153,693 | ||||||
Los
Angeles Unified School District/CA GO |
100 | 119,889 | ||||||
Series A, 5.00%, 07/01/26 |
335 | 402,313 | ||||||
Series C, 5.00%, 07/01/26 |
100 | 120,093 | ||||||
Series C, 5.00%, 07/01/26 (Call 07/01/24) |
195 | 218,531 | ||||||
Series D, 5.00%, 07/01/26 (Call 07/01/24) |
160 | 179,308 | ||||||
Metropolitan Water District of Southern California RB |
||||||||
Series A, 2.50%, 07/01/26 |
230 | 249,492 | ||||||
Series A, 5.00%, 07/01/26 |
160 | 192,722 | ||||||
Newport
Mesa Unified School District GO, |
190 | 182,215 | ||||||
Ohlone
Community College District GO |
115 | 131,912 |
84 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Series C, 4.00%, 08/01/29 (Call 08/01/26) |
$ | 65 | $ | 74,731 | ||||
Palo Alto Unified School District GO, 0.00%, 08/01/26(a) |
170 | 164,273 | ||||||
Palos Verdes Peninsula Unified School District GO, 0.00%, 11/01/26 (NPFGC)(a) |
165 | 157,001 | ||||||
Pasadena Area Community College District GO, Series A, 4.00%, 08/01/29 (Call 08/01/26) |
100 | 114,871 | ||||||
Port of Los Angeles RB, Series C2, 5.00%, 08/01/26 |
100 | 119,922 | ||||||
Rancho Water District Financing Authority RB, Series B, 5.00%, 08/01/28 (Call 08/01/26) |
25 | 30,217 | ||||||
Sacramento
County Sanitation Districts Financing Authority RB, |
80 | 93,243 | ||||||
San
Diego Community College District GO, |
100 | 115,271 | ||||||
San Diego County Regional Transportation Commission RB, Series A, 5.00%, 04/01/29 (Call 04/01/26) |
215 | 254,922 | ||||||
San
Diego County Water Authority RB, 5.00%, 05/01/26 |
100 | 115,802 | ||||||
San
Diego Unified School District/CA GO |
135 | 166,204 | ||||||
Series A, 0.00%, 07/01/26(a) |
20 | 19,245 | ||||||
Series A, 0.00%, 07/01/26 (ETM)(a) |
30 | 28,733 | ||||||
Series R-5, 4.00%, 07/01/29 (Call 07/01/26) |
215 | 247,274 | ||||||
Series R-5, 5.00%, 07/01/26 |
95 | 114,770 | ||||||
San
Francisco Bay Area Rapid Transit District GO |
55 | 63,758 | ||||||
5.00%, 08/01/26 |
155 | 186,925 | ||||||
Series D, 5.00%, 08/01/26 (Call 08/01/25) |
60 | 70,127 | ||||||
San
Francisco City & County Airport Commission San Francisco
International Airport RB, |
140 | 166,745 | ||||||
San Jose Evergreen Community College District GO, Series A, 5.00%, 09/01/26 (PR 09/01/24) |
100 | 113,224 | ||||||
San Mateo County Community College District GO |
||||||||
Series A, 0.00%, 09/01/26 (NPFGC)(a) |
275 | 263,777 | ||||||
Series B, 0.00%, 09/01/26 (NPFGC)(a) |
95 | 91,123 | ||||||
Santa
Barbara Community College District GO |
100 | 120,649 | ||||||
5.00%, 08/01/28 (Call 08/01/26) |
120 | 144,779 | ||||||
5.00%, 08/01/29 (Call 08/01/26) |
50 | 60,142 | ||||||
Santa Clara County Financing Authority RB, 5.00%, 05/01/26 |
150 | 179,318 | ||||||
Santa Clara Unified School District GO, 5.00%, 07/01/26 |
||||||||
(Call 07/01/24) |
90 | 101,091 | ||||||
Santa Clara Valley Transportation Authority RB, Series A, 5.00%, 06/01/26 |
95 | 113,997 | ||||||
Santa
Clara Valley Water District COP, Series A, |
70 | 82,618 | ||||||
Santa
Monica-Malibu Unified School District GO, Series D, |
40 | 45,299 | ||||||
Southern California Public Power Authority RB, Series C, 5.00%, 07/01/26 (Call 01/01/25) |
50 | 57,160 | ||||||
State of California Department of Water Resources RB 5.00%, 12/01/29 (Call 12/01/26) |
110 | 133,321 | ||||||
Series AS, 5.00%, 12/01/26 (PR 12/01/24) |
200 | 228,795 | ||||||
Series AV, 5.00%, 12/01/26 (Call 06/01/26) |
50 | 59,973 | ||||||
Series AW, 5.00%, 12/01/27 (Call 12/01/26) |
135 | 164,299 | ||||||
Series AW, 5.00%, 12/01/28 (Call 12/01/26) |
205 | 248,919 | ||||||
State
of California GO |
100 | 114,654 | ||||||
4.00%, 09/01/27 (Call 09/01/26) |
125 | 144,302 | ||||||
4.00%, 08/01/28 (Call 08/01/26) |
80 | 92,015 | ||||||
5.00%, 08/01/26 |
235 | 282,425 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
5.00%, 08/01/26 (Call 08/01/25) |
$ | 225 | $ | 262,063 | ||||
5.00%, 10/01/26 |
340 | 410,577 | ||||||
5.00%, 11/01/26 |
140 | 169,459 | ||||||
5.00%, 08/01/27 (Call 08/01/26) |
85 | 102,330 | ||||||
5.00%, 08/01/28 (Call 08/01/26) |
290 | 348,826 | ||||||
5.00%, 09/01/28 (Call 09/01/26) |
705 | 850,062 | ||||||
5.00%, 08/01/29 ( 08/01/26) |
200 | 240,570 | ||||||
5.00%, 09/01/29 (Call 09/01/26) |
450 | 542,593 | ||||||
5.00%, 08/01/30 (Call 08/01/26) |
100 | 120,233 | ||||||
Series B, 5.00%, 09/01/26 |
300 | 361,411 | ||||||
Series C, 5.00%, 08/01/27 (Call 08/01/26) |
415 | 499,614 | ||||||
Series C, 5.00%, 08/01/28 (Call 08/01/26) |
270 | 324,769 | ||||||
University
of California RB |
40 | 46,164 | ||||||
Series AM, 5.00%, 05/15/26 (Call 05/15/24) |
205 | 229,123 | ||||||
Series AV, 5.00%, 05/15/26 |
205 | 245,761 | ||||||
Series I, 5.00%, 05/15/26 (Call 05/15/25) |
150 | 173,812 | ||||||
|
|
|||||||
18,280,119 | ||||||||
Colorado — 0.6% | ||||||||
City & County of Denver Co. GO, 5.00%, 08/01/26 |
45 | 54,152 | ||||||
City of Colorado Springs CO Utilities System Revenue RB, Series A2, 5.00%, 11/15/26 |
50 | 60,638 | ||||||
Denver
City & County School District No. 1 GO |
80 | 90,900 | ||||||
5.00%, 12/01/27 (Call 12/01/26) |
145 | 175,903 | ||||||
5.50%, 12/01/26 (SAW) |
110 | 136,245 | ||||||
University of Colorado RB, Series A-2, 5.00%, 06/01/26 |
150 | 179,769 | ||||||
|
|
|||||||
697,607 | ||||||||
Connecticut — 1.5% | ||||||||
State of Connecticut GO |
||||||||
Series A, 5.00%, 03/15/26 |
235 | 279,271 | ||||||
Series B, 4.00%, 06/01/26 |
100 | 115,090 | ||||||
Series B, 5.00%, 05/15/26 |
90 | 107,494 | ||||||
Series B, 5.00%, 05/15/27 (Call 05/15/26) |
100 | 118,953 | ||||||
Series E, 5.00%, 10/15/26 |
175 | 211,557 | ||||||
Series F, 5.00%, 09/15/26 |
205 | 247,236 | ||||||
State
of Connecticut Special Tax Revenue RB |
200 | 238,599 | ||||||
Series A, 5.00%, 09/01/27 (Call 09/01/26) |
200 | 239,887 | ||||||
Series A, 5.00%, 09/01/28 (Call 09/01/26) |
60 | 71,903 | ||||||
Series B, 5.00%, 09/01/28 (Call 09/01/26) |
140 | 167,773 | ||||||
Series C, 5.00%, 10/01/26 |
80 | 96,606 | ||||||
|
|
|||||||
1,894,369 | ||||||||
Delaware — 0.5% | ||||||||
Delaware
Transportation Authority RB |
200 | 239,983 | ||||||
5.00%, 07/01/27 (Call 07/01/26) |
150 | 179,681 | ||||||
State
of Delaware GO |
80 | 94,901 | ||||||
Series D, 5.00%, 07/01/27 (Call 07/01/26) |
85 | 101,776 | ||||||
|
|
|||||||
616,341 | ||||||||
District of Columbia — 0.7% | ||||||||
District of Columbia GO |
||||||||
Series A, 5.00%, 06/01/27 (Call 06/01/26) |
100 | 119,546 | ||||||
Series B, 5.00%, 06/01/26 (Call 06/01/25) |
125 | 144,863 | ||||||
Series D, 5.00%, 06/01/26 |
80 | 95,917 | ||||||
Series D, 5.00%, 06/01/27 (Call 12/01/26) |
155 | 188,207 | ||||||
Series D, 5.00%, 06/01/28 (Call 12/01/26) |
25 | 30,356 | ||||||
Series D, 5.00%, 06/01/29 (Call 12/01/26) |
100 | 121,201 |
SCHEDULES OF INVESTMENTS |
85 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
District of Columbia (continued) | ||||||||
District of Columbia RB, Series C, 5.00%, 10/01/26 |
$ | 170 | $ | 205,838 | ||||
|
|
|||||||
905,928 | ||||||||
Florida — 3.2% | ||||||||
County
of Miami-Dade FL Aviation Revenue RB, |
85 | 99,269 | ||||||
County
of Miami-Dade FL Transit System RB, |
315 | 378,455 | ||||||
County
of Miami-Dade FL Water & Sewer System Revenue RB, |
320 | 374,259 | ||||||
Florida
Department of Environmental Protection RB |
85 | 98,873 | ||||||
Series A, 5.00%, 07/01/26 (Call 07/01/25) |
165 | 191,931 | ||||||
Series A, 5.00%, 07/01/27 (Call 07/01/26) |
200 | 239,880 | ||||||
Orange County School Board COP, 5.00%, 08/01/26 |
130 | 155,831 | ||||||
Reedy
Creek Improvement District GOL |
75 | 89,772 | ||||||
Series A, 5.00%, 06/01/26 |
130 | 154,632 | ||||||
School
Board of Miami-Dade County (The) COP |
245 | 285,691 | ||||||
Series D, 5.00%, 02/01/27 (Call 02/01/26) |
85 | 99,893 | ||||||
School
Board of Miami-Dade County (The) GO, |
100 | 118,459 | ||||||
School District of Broward County/FL COP |
||||||||
Series B, 5.00%, 07/01/26 |
35 | 41,730 | ||||||
Series B, 5.00%, 07/01/27 (Call 07/01/26) |
105 | 125,884 | ||||||
State of Florida Department of Transportation Turnpike System Revenue RB |
||||||||
Series C, 5.00%, 07/01/27 (Call 07/01/26) |
155 | 186,224 | ||||||
Series C, 5.00%, 07/01/29 (Call 07/01/26) |
145 | 173,323 | ||||||
State of Florida GO |
||||||||
Series B, 5.00%, 06/01/26 (Call 06/01/24) |
40 | 44,729 | ||||||
Series B, 5.00%, 07/01/26 |
95 | 113,943 | ||||||
Series C, 5.00%, 06/01/26 |
65 | 77,770 | ||||||
Series C, 5.00%, 06/01/28 (Call 06/01/26) |
50 | 59,823 | ||||||
Series D, 4.00%, 06/01/29 (Call 06/01/26) |
125 | 142,405 | ||||||
Series E, 5.00%, 06/01/26 (Call 06/01/25) |
110 | 127,309 | ||||||
Series F, 5.00%, 06/01/29 (Call 06/01/26) |
100 | 119,346 | ||||||
State
of Florida Lottery Revenue RB |
175 | 209,895 | ||||||
Series A, 5.00%, 07/01/26 |
225 | 269,866 | ||||||
|
|
|||||||
3,979,192 | ||||||||
Georgia — 1.7% | ||||||||
City
of Atlanta GA Water & Wastewater Revenue RB, |
50 | 60,576 | ||||||
Forsyth County School District GO, 5.00%, 02/01/27 (Call 02/01/26) |
235 | 277,896 | ||||||
Georgia Ports Authority RB, 5.00%, 07/01/26 |
105 | 125,913 | ||||||
Metropolitan
Atlanta Rapid Transit Authority RB, |
300 | 357,703 | ||||||
Private
Colleges & Universities Authority RB, |
220 | 265,384 | ||||||
State of Georgia GO |
||||||||
Series A, 5.00%, 08/01/26 |
500 | 602,464 | ||||||
Series A-1, 5.00%, 02/01/26 |
85 | 100,872 | ||||||
Series E, 5.00%, 12/01/27 (Call 12/01/26) |
80 | 97,115 | ||||||
Series E, 5.00%, 12/01/28 (Call 12/01/26) |
150 | 182,051 | ||||||
Series F, 5.00%, 01/01/26 |
25 | 29,590 | ||||||
|
|
|||||||
2,099,564 |
Security | Par (000) |
Value | ||||||
Hawaii — 1.7% | ||||||||
City & County Honolulu HI Wastewater System Revenue RB 5.00%, 07/01/27 (Call 07/01/26) |
$ | 205 | $ | 245,460 | ||||
Series A, 5.00%, 07/01/28 (Call 07/01/26) |
160 | 191,091 | ||||||
City & County of Honolulu HI GO |
||||||||
Series A, 5.00%, 10/01/26 (Call 10/01/25) |
150 | 174,990 | ||||||
Series B, 5.00%, 10/01/26 (Call 10/01/25) |
75 | 87,495 | ||||||
Series D, 5.00%, 09/01/26 |
65 | 78,374 | ||||||
County
of Hawaii HI GO, |
100 | 118,041 | ||||||
State
of Hawaii GO |
185 | 223,502 | ||||||
Series EY, 5.00%, 10/01/26 (Call 10/01/25) |
100 | 116,998 | ||||||
Series FE, 5.00%, 10/01/27 (Call 10/01/26) |
140 | 169,061 | ||||||
Series FG, 5.00%, 10/01/27 (Call 10/01/26) |
175 | 211,326 | ||||||
Series FG, 5.00%, 10/01/29 (Call 10/01/26) |
100 | 120,114 | ||||||
Series FH, 5.00%, 10/01/27 (Call 10/01/26) |
120 | 144,909 | ||||||
State of Hawaii State Highway Fund RB |
||||||||
Series A, 5.00%, 01/01/29 (Call 07/01/26) |
50 | 59,564 | ||||||
Series B, 5.00%, 01/01/27 (Call 07/01/26) |
125 | 149,671 | ||||||
|
|
|||||||
2,090,596 | ||||||||
Idaho — 0.3% | ||||||||
Idaho
Housing & Finance Association RB, |
330 | 393,715 | ||||||
|
|
|||||||
Illinois — 2.0% | ||||||||
Chicago
O’Hare International Airport RB |
100 | 117,163 | ||||||
Series D, 5.00%, 01/01/26 |
165 | 193,880 | ||||||
Series E, 5.00%, 01/01/26 |
165 | 193,880 | ||||||
Illinois
Finance Authority RB |
45 | 51,298 | ||||||
5.00%, 04/01/26 |
50 | 59,452 | ||||||
5.00%, 07/01/26 |
255 | 305,012 | ||||||
State
of Illinois GO |
100 | 116,352 | ||||||
Series A, 5.00%, 03/01/26 |
470 | 546,823 | ||||||
Series A, 5.00%, 10/01/26 |
250 | 294,283 | ||||||
Series B, 5.13%, 09/01/26 |
150 | 177,144 | ||||||
Series D, 5.00%, 11/01/26 |
235 | 277,185 | ||||||
State of Illinois Sales Tax Revenue RB, 5.00%, 06/15/26 |
65 | 76,672 | ||||||
|
|
|||||||
2,409,144 | ||||||||
Indiana — 1.4% | ||||||||
Indiana Finance Authority RB |
||||||||
Series A, 5.00%, 02/01/26 |
120 | 142,296 | ||||||
Series A, 5.00%, 10/01/26 (Call 10/01/24) |
100 | 112,890 | ||||||
Series C, 5.00%, 06/01/27 (Call 12/01/26) |
580 | 701,685 | ||||||
Series E, 5.00%, 02/01/26 |
30 | 35,574 | ||||||
Series E, 5.00%, 02/01/29 (Call 08/01/26) |
195 | 233,673 | ||||||
Indiana University RB |
||||||||
Series A, 5.00%, 06/01/26 |
125 | 149,307 | ||||||
Series A, 5.00%, 06/01/27 (Call 06/01/26) |
195 | 232,433 | ||||||
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
125 | 148,684 | ||||||
|
|
|||||||
1,756,542 | ||||||||
Kansas — 0.1% | ||||||||
State
of Kansas Department of Transportation RB, |
75 | 87,495 | ||||||
|
|
|||||||
Louisiana — 0.6% | ||||||||
State of Louisiana Gasoline & Fuels Tax Revenue RB |
||||||||
Series B, 5.00%, 05/01/26 |
100 | 119,251 | ||||||
Series B, 5.00%, 05/01/26 (Call 05/01/25) |
50 | 57,584 |
86 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Louisiana (continued) | ||||||||
State of Louisiana GO |
||||||||
Series A, 5.00%, 09/01/26 |
$ | 25 | $ | 30,118 | ||||
Series B, 5.00%, 08/01/26 |
180 | 216,046 | ||||||
Series B, 5.00%, 08/01/29 (Call 08/01/26) |
100 | 119,056 | ||||||
State
of Louisiana RB |
50 | 60,024 | ||||||
Series A, 5.00%, 09/01/26 |
75 | 90,036 | ||||||
|
|
|||||||
692,115 | ||||||||
Maine — 0.7% | ||||||||
Maine
Municipal Bond Bank RB |
250 | 302,333 | ||||||
5.00%, 11/01/29 (Call 11/01/26) |
220 | 264,972 | ||||||
Series A, 5.00%, 09/01/29 (Call 09/01/26) |
100 | 119,157 | ||||||
State of Maine GO, Series B, 5.00%, 06/01/26 |
130 | 155,539 | ||||||
|
|
|||||||
842,001 | ||||||||
Maryland — 4.2% | ||||||||
City of Baltimore MD GO |
||||||||
Series A, 5.00%, 10/15/26 |
40 | 48,399 | ||||||
Series B, 5.00%, 10/15/26 |
135 | 163,348 | ||||||
County
of Anne Arundel MD GOL |
100 | 120,973 | ||||||
5.00%, 10/01/26 (Call 10/01/25) |
110 | 128,855 | ||||||
County
of Baltimore MD GO |
195 | 231,831 | ||||||
5.00%, 08/01/26 (Call 08/01/25) |
80 | 93,013 | ||||||
County of Charles MD GO, 5.00%, 10/01/26 |
400 | 483,893 | ||||||
County of Frederick MD, 5.00%, 08/01/26 |
200 | 240,745 | ||||||
County
of Howard MD GO |
150 | 180,787 | ||||||
Series D, 5.00%, 02/15/26 |
180 | 213,697 | ||||||
County
of Montgomery MD GO |
260 | 315,280 | ||||||
Series A, 4.00%, 12/01/26 (Call 12/01/24) |
25 | 27,614 | ||||||
Series A, 5.00%, 11/01/26 |
80 | 97,009 | ||||||
County of Prince George’s MD GO, Series A, 5.00%, 09/15/26 |
175 | 211,428 | ||||||
County
of Prince George’s MD GOL, |
210 | 252,484 | ||||||
State of Maryland Department of Transportation RB 5.00%, 10/01/26 |
120 | 145,233 | ||||||
5.00%, 12/01/27 (Call 12/01/26) |
75 | 90,795 | ||||||
5.00%, 10/01/28 (Call 10/01/26) |
480 | 577,959 | ||||||
5.00%, 10/01/29 (Call 10/01/26) |
95 | 113,877 | ||||||
State of Maryland GO |
||||||||
Series A, 5.00%, 08/01/26 |
170 | 204,573 | ||||||
Series B, 4.00%, 08/01/26 |
175 | 202,421 | ||||||
Series B, 5.00%, 08/01/26 |
335 | 403,128 | ||||||
Washington
Suburban Sanitary Commission RB |
300 | 359,387 | ||||||
5.00%, 06/01/26 (GTD) |
100 | 119,796 | ||||||
5.00%, 06/01/27 (Call 06/01/26) (GTD) |
100 | 119,250 | ||||||
|
|
|||||||
5,145,775 | ||||||||
Massachusetts — 3.5% | ||||||||
City of Boston MA GO, Series B, 4.00%, 03/01/26 |
60 | 68,826 | ||||||
City of Cambridge MA GOL, Series B, 5.00%, 02/15/26 |
165 | 196,043 | ||||||
City of Cambridge MA RB, 5.00%, 02/15/26 |
195 | 231,687 | ||||||
Commonwealth
of Massachusetts Federal Highway Grant Anticipation Note Revenue RB,
Series A, |
150 | 178,916 | ||||||
Commonwealth
of Massachusetts GO, Series C, |
50 | 61,134 |
Security | Par (000) |
Value | ||||||
Massachusetts (continued) | ||||||||
Commonwealth
of Massachusetts GOL |
$ | 100 | $ | 119,000 | ||||
Series A, 5.00%, 07/01/26 |
450 | 539,502 | ||||||
Series B, 5.00%, 01/01/26 |
20 | 23,627 | ||||||
Series B, 5.00%, 07/01/30 (Call 07/01/26) |
100 | 118,957 | ||||||
Series C, 5.00%, 09/01/26 |
100 | 120,470 | ||||||
Series D, 5.00%, 07/01/26 |
150 | 179,834 | ||||||
Series HH, 5.00%, 12/01/26 |
200 | 242,625 | ||||||
Series I, 5.00%, 12/01/28 (Call 12/01/26) |
100 | 120,812 | ||||||
Commonwealth
of Massachusetts Transportation Fund Revenue RB, |
180 | 215,362 | ||||||
Massachusetts Bay Transportation Authority RB 5.00%, 07/01/26 (Call 07/01/25) |
150 | 173,751 | ||||||
Series A, 4.00%, 07/01/26 |
100 | 115,603 | ||||||
Series A, 5.00%, 07/01/26 |
135 | 161,851 | ||||||
Series B, 5.00%, 07/01/26 (Call 07/01/25) |
110 | 127,417 | ||||||
Massachusetts Development Finance Agency RB, Series A, 5.00%, 10/15/26 |
150 | 181,905 | ||||||
Massachusetts School Building Authority RB, Series A, 5.00%, 11/15/26 (Call 11/15/25) |
90 | 105,714 | ||||||
Massachusetts
Transportation Trust Fund Metropolitan Highway System Revenue
RB, |
80 | 94,508 | ||||||
Massachusetts Water Resources Authority RB 5.00%, 08/01/26 ( 08/01/24) |
115 | 129,134 | ||||||
Series B, 5.25%, 08/01/26 (AGM) |
295 | 358,128 | ||||||
University
of Massachusetts Building Authority RB |
175 | 209,204 | ||||||
5.00%, 11/01/26 |
150 | 181,975 | ||||||
|
|
|||||||
4,255,985 | ||||||||
Michigan — 1.7% | ||||||||
Great
Lakes Water Authority Water Supply System Revenue RB, |
130 | 155,459 | ||||||
Michigan
Finance Authority RB |
100 | 120,920 | ||||||
Series B, 5.00%, 10/01/28 (Call 10/01/26) |
400 | 484,325 | ||||||
Series B, 5.00%, 10/01/29 (Call 10/01/26) |
200 | 242,163 | ||||||
Michigan
State Building Authority RB |
275 | 328,889 | ||||||
Series I, 5.00%, 04/15/26 (Call 10/15/25) |
90 | 105,617 | ||||||
Series I, 5.00%, 04/15/27 (Call 10/15/26) |
95 | 114,742 | ||||||
State of Michigan RB, 5.00%, 03/15/26 |
385 | 457,346 | ||||||
University of Michigan RB, 5.00%, 04/01/26 |
25 | 29,786 | ||||||
|
|
|||||||
2,039,247 | ||||||||
Minnesota — 1.1% | ||||||||
County of Hennepin MN GO, 5.00%, 12/01/26 |
90 | 109,382 | ||||||
Metropolitan Council GO, 5.00%, 12/01/26 |
170 | 206,042 | ||||||
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/28 (Call 03/01/26) |
125 | 148,020 | ||||||
State of Minnesota GO |
||||||||
Series B, 4.00%, 08/01/26 |
300 | 346,855 | ||||||
Series B, 4.00%, 08/01/26 (Call 08/01/24) |
100 | 109,499 | ||||||
Series D, 5.00%, 08/01/26 |
255 | 306,726 | ||||||
Series E, 3.00%, 08/01/26 |
100 | 110,951 | ||||||
|
|
|||||||
1,337,475 | ||||||||
Mississippi — 0.4% | ||||||||
State of Mississippi GO |
||||||||
Series A, 5.00%, 10/01/26 |
70 | 84,568 | ||||||
Series B, 5.00%, 12/01/29 (Call 12/01/26) |
190 | 229,343 |
SCHEDULES OF INVESTMENTS |
87 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Mississippi (continued) | ||||||||
Series C, 5.00%, 10/01/26 (Call 10/01/25) |
$ | 140 | $ | 163,700 | ||||
|
|
|||||||
477,611 | ||||||||
Missouri — 0.9% | ||||||||
City
of Kansas City MO Water Revenue RB, |
235 | 286,134 | ||||||
Metropolitan
St Louis Sewer District RB, |
125 | 149,431 | ||||||
Missouri
Highway & Transportation Commission RB |
155 | 187,277 | ||||||
Series A, 5.00%, 05/01/26 |
70 | 83,441 | ||||||
Series A, 5.00%, 05/01/26 (Call 05/01/24) |
100 | 111,313 | ||||||
Missouri
State Board of Public Buildings RB, |
195 | 211,264 | ||||||
Missouri
State Environmental Improvement & Energy Resources Authority
RB, |
125 | 145,485 | ||||||
|
|
|||||||
1,174,345 | ||||||||
Nebraska — 0.3% | ||||||||
Nebraska Public Power District RB |
||||||||
Series A, 5.00%, 01/01/29 (Call 01/01/26) |
95 | 110,922 | ||||||
Series B, 5.00%, 01/01/29 (Call 01/01/26) |
105 | 122,599 | ||||||
Omaha
Public Power District RB, |
100 | 117,067 | ||||||
|
|
|||||||
350,588 | ||||||||
Nevada — 2.3% | ||||||||
Clark County School District GOL |
||||||||
Series A, 5.00%, 06/15/26 |
145 | 172,444 | ||||||
Series E, 5.00%, 06/15/26 |
100 | 118,927 | ||||||
Clark
County Water Reclamation District, |
165 | 197,901 | ||||||
County
of Clark NV GOL |
80 | 91,109 | ||||||
Series B, 5.00%, 11/01/26 |
100 | 120,988 | ||||||
Series B, 5.00%, 11/01/27 (Call 11/01/26) |
230 | 278,020 | ||||||
Series B, 5.00%, 11/01/29 (Call 11/01/26) |
250 | 300,425 | ||||||
County of Clark NV Passenger Facility Charge Revenue RB, Series C, 5.00%, 07/01/26 |
225 | 269,178 | ||||||
County
of Clark NV RB, |
220 | 246,174 | ||||||
Las Vegas Valley Water District GOL |
||||||||
5.00%, 09/15/26 (Call 09/15/25) |
105 | 122,897 | ||||||
5.00%, 06/01/27 (Call 06/01/26) |
75 | 89,360 | ||||||
State
of Nevada GO, |
40 | 46,059 | ||||||
State
of Nevada GOL, |
50 | 56,365 | ||||||
State of Nevada Highway Improvement Revenue RB |
||||||||
5.00%, 12/01/26 (Call 06/01/26) |
330 | 393,677 | ||||||
5.00%, 12/01/28 (Call 06/01/26) |
200 | 237,895 | ||||||
Washoe
County School District/NV GOL, |
115 | 133,096 | ||||||
|
|
|||||||
2,874,515 | ||||||||
New Jersey — 2.3% | ||||||||
County of Union New Jersey GO, 4.00%, 03/01/26 |
35 | 40,132 | ||||||
Essex
County Improvement Authority RB, |
100 | 123,387 | ||||||
Monmouth
County Improvement Authority (The) RB, |
135 | 156,153 | ||||||
New Jersey Economic Development Authority RB |
||||||||
Series AAA, 5.00%, 06/15/26 |
100 | 118,672 | ||||||
Series B, 5.00%, 11/01/26 (SAP) |
175 | 209,786 | ||||||
Series XX, 4.25%, 06/15/26 (Call 06/15/25) |
480 | 537,757 | ||||||
New
Jersey Educational Facilities Authority RB, |
200 | 240,289 |
Security | Par (000) |
Value | ||||||
New Jersey (continued) | ||||||||
New Jersey Transportation Trust Fund Authority RB |
||||||||
Series A, 5.00%, 06/15/26 |
$ | 100 | $ | 118,672 | ||||
Series A, 5.00%, 06/15/28 (Call 06/15/26) |
350 | 411,701 | ||||||
Series A, 5.00%, 06/15/29 (Call 06/15/26) |
80 | 93,872 | ||||||
Series A, 5.00%, 06/15/30 (Call 06/15/26) |
70 | 81,912 | ||||||
Series AA, 4.25%, 06/15/26 ( 06/15/25) |
200 | 224,066 | ||||||
Series AA, 5.00%, 06/15/26 (Call 06/15/24) |
100 | 111,305 | ||||||
Series AA, 5.00%, 06/15/26 (Call 06/15/25) |
25 | 28,735 | ||||||
State of New Jersey GO, Series A, 5.00%, 06/01/26 |
315 | 372,968 | ||||||
|
|
|||||||
2,869,407 | ||||||||
New Mexico — 0.3% | ||||||||
New
Mexico Finance Authority RB, |
100 | 111,934 | ||||||
State of New Mexico Severance Tax Permanent Fund RB, 5.00%, 07/01/26 |
250 | 299,851 | ||||||
|
|
|||||||
411,785 | ||||||||
New York — 10.9% | ||||||||
City of New York NY GO |
||||||||
5.00%, 03/01/26 |
90 | 106,659 | ||||||
5.00%, 03/01/26 (Call 03/01/24) |
225 | 249,003 | ||||||
5.00%, 08/01/26 (Call 08/01/24) |
50 | 56,224 | ||||||
5.00%, 08/01/29 (Call 08/01/26) |
225 | 268,430 | ||||||
Series A, 5.00%, 08/01/26 |
100 | 119,974 | ||||||
Series A-1, 5.00%, 08/01/30 (Call 08/01/26) |
110 | 131,119 | ||||||
Series B-1, 5.00%, 12/01/28 (Call 12/01/26) |
50 | 60,213 | ||||||
Series B-1, 5.00%, 12/01/29 (Call 12/01/26) |
175 | 210,647 | ||||||
Series C, 5.00%, 08/01/26 |
160 | 191,958 | ||||||
Series C, 5.00%, 08/01/27 (Call 02/01/26) |
150 | 176,488 | ||||||
Series C, 5.00%, 08/01/28 (Call 02/01/26) |
150 | 176,488 | ||||||
Series E, 5.00%, 08/01/30 (Call 08/01/26) |
65 | 77,480 | ||||||
Series J9, 5.00%, 08/01/27 (Call 08/01/26) |
305 | 364,029 | ||||||
County of Nassau NY GOL, 5.00%, 04/01/26 |
135 | 159,615 | ||||||
Hudson
Yards Infrastructure Corp. RB, |
205 | 243,760 | ||||||
Long Island Power Authority RB |
||||||||
5.00%, 09/01/26 |
40 | 48,209 | ||||||
Series B, 5.00%, 09/01/26 |
130 | 156,680 | ||||||
Metropolitan Transportation Authority RB |
||||||||
Series B, 5.00%, 11/15/26 |
430 | 512,943 | ||||||
Series B-2, 5.00%, 11/15/26 |
125 | 151,198 | ||||||
Series C-1, 5.00%, 11/15/26 |
685 | 817,129 | ||||||
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
5.00%, 07/15/26 (Call 01/15/26) (SAW) |
35 | 41,301 | ||||||
Series S1, 5.00%, 07/15/26 (SAW) |
160 | 192,002 | ||||||
Series S-1, 5.00%, 07/15/30 (Call 01/15/26) (SAW) |
255 | 299,170 | ||||||
Series S-2A, 5.00%, 07/15/26 (SAW) |
360 | 432,004 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
5.00%, 11/01/26 |
50 | 60,576 | ||||||
5.00%, 08/01/27 (Call 08/01/26) |
195 | 233,343 | ||||||
5.00%, 05/01/29 (Call 05/01/26) |
40 | 47,368 | ||||||
Series B-1, 5.00%, 08/01/29 (Call 08/01/26) |
100 | 119,251 | ||||||
Series C, 5.00%, 11/01/26 (Call 05/01/24) |
145 | 161,509 | ||||||
Series E1, 4.00%, 02/01/26 |
185 | 211,454 | ||||||
Series E-1, 5.00%, 02/01/30 (Call 02/01/26) |
150 | 176,213 | ||||||
Series F-3, 5.00%, 02/01/30 (Call 02/01/26) |
135 | 158,591 | ||||||
New York City Water & Sewer System RB |
||||||||
5.00%, 06/15/26 |
50 | 59,916 |
88 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Series BB-2, 5.00%, 06/15/26 (Call 12/15/24) |
$ | 130 | $ | 148,648 | ||||
Series DD, 5.00%, 06/15/26 |
105 | 125,718 | ||||||
Series GG-2, 5.00%, 06/15/26 (Call 12/15/24) |
200 | 228,689 | ||||||
New York State Dormitory Authority RB |
||||||||
Series A, 5.00%, 02/15/26 (Call 02/15/24) |
130 | 143,491 | ||||||
Series A, 5.00%, 03/15/26 |
555 | 658,715 | ||||||
Series A, 5.00%, 03/15/26 (Call 03/15/24) |
100 | 110,836 | ||||||
Series A, 5.00%, 03/15/28 (Call 09/15/26) |
190 | 228,539 | ||||||
Series A, 5.00%, 02/15/29 (Call 08/15/26) |
335 | 401,132 | ||||||
Series A, 5.00%, 03/15/29 (Call 09/15/26) |
420 | 504,299 | ||||||
Series A1, 4.00%, 10/01/26 |
95 | 110,488 | ||||||
Series B, 5.00%, 10/01/28 (Call 04/01/26) |
110 | 130,847 | ||||||
Series D, 5.00%, 02/15/28 (Call 08/15/26) |
275 | 330,148 | ||||||
Series E, 5.00%, 03/15/26 (Call 09/15/25) |
75 | 87,595 | ||||||
New York State Environmental Facilities Corp. RB |
||||||||
5.00%, 05/15/26 (Call 05/15/24) |
105 | 117,327 | ||||||
5.00%, 06/15/29 (Call 06/15/26) |
210 | 250,695 | ||||||
Series D, 5.00%, 09/15/26 ( 03/15/25) |
70 | 80,687 | ||||||
Series E, 5.00%, 06/15/26 |
50 | 59,941 | ||||||
New York State Thruway Authority RB |
||||||||
Series A, 5.00%, 01/01/26 |
125 | 146,710 | ||||||
Series A, 5.00%, 01/01/28 (Call 01/01/26) |
140 | 164,188 | ||||||
New York State Urban Development Corp. RB |
||||||||
4.00%, 03/15/26 |
80 | 91,536 | ||||||
5.00%, 03/15/26 |
50 | 59,361 | ||||||
Series A, 5.00%, 03/15/26 |
280 | 332,421 | ||||||
Series A, 5.00%, 03/15/27 (Call 03/15/26) |
125 | 147,659 | ||||||
Series A, 5.00%, 03/15/28 (Call 03/15/26) |
310 | 365,902 | ||||||
Series A, 5.00%, 03/15/30 (Call 03/15/26) |
170 | 199,855 | ||||||
Series E, 5.00%, 03/15/26 |
160 | 189,955 | ||||||
Port Authority of New York & New Jersey RB |
||||||||
5.00%, 07/15/26 |
100 | 120,282 | ||||||
5.00%, 09/01/26 |
110 | 132,809 | ||||||
Sales
Tax Asset Receivable Corp. RB, |
295 | 335,334 | ||||||
Triborough Bridge & Tunnel Authority RB |
||||||||
Series B, 5.00%, 11/15/26 |
295 | 356,953 | ||||||
Series C-1, 5.00%, 11/15/26 |
265 | 320,652 | ||||||
Utility
Debt Securitization Authority RB, |
250 | 298,069 | ||||||
|
|
|||||||
13,450,425 | ||||||||
North Carolina — 2.0% | ||||||||
County of Buncombe NC RB, 5.00%, 06/01/26 |
70 | 83,752 | ||||||
County of Orange NC GO, 5.00%, 08/01/26 |
300 | 361,635 | ||||||
County of Union NC, 5.00%, 09/01/26 |
150 | 181,262 | ||||||
County of Wake NC, 5.00%, 12/01/26 |
60 | 72,821 | ||||||
County of Wake NC GO, 5.00%, 03/01/26 |
125 | 148,787 | ||||||
North
Carolina Capital Facilities Finance Agency RB, |
185 | 222,409 | ||||||
North
Carolina Municipal Power Agency No. 1 RB, |
100 | 117,729 | ||||||
State of North Carolina GO |
||||||||
5.00%, 06/01/27 (Call 06/01/26) |
150 | 178,577 | ||||||
Series A, 5.00%, 06/01/26 |
225 | 269,766 | ||||||
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
150 | 178,482 | ||||||
Series C, 5.00%, 05/01/26 |
110 | 131,554 |
Security | Par (000) |
Value | ||||||
North Carolina (continued) | ||||||||
State of North Carolina RB |
||||||||
5.00%, 03/01/26 |
$ | 300 | $ | 355,955 | ||||
Series B, 5.00%, 06/01/26 |
175 | 209,380 | ||||||
|
|
|||||||
2,512,109 | ||||||||
Ohio — 2.7% | ||||||||
City
of Cincinnati OH Water System Revenue RB, |
125 | 151,501 | ||||||
City of Columbus OH GO |
||||||||
Series 2, 5.00%, 07/01/26 |
185 | 221,889 | ||||||
Series A, 4.00%, 08/15/26 (Call 08/15/25) |
215 | 242,592 | ||||||
City
of Columbus OH Sewerage Revenue RB, |
100 | 119,097 | ||||||
County
of Franklin OH GOL, |
65 | 76,587 | ||||||
County
of Hamilton OH Sales Tax Revenue RB, |
110 | 133,505 | ||||||
Ohio State University (The) RB, 5.00%, 12/01/26 |
45 | 54,666 | ||||||
Ohio Water Development Authority RB |
||||||||
5.00%, 12/01/27 (Call 12/01/26) |
250 | 303,560 | ||||||
5.00%, 06/01/28 (Call 12/01/26) |
100 | 121,368 | ||||||
5.00%, 12/01/29 ( 12/01/26) |
75 | 90,734 | ||||||
Ohio
Water Development Authority Water Pollution Control Loan Fund
RB, |
100 | 119,646 | ||||||
State of Ohio COP, 5.00%, 09/01/26 |
230 | 276,596 | ||||||
State of Ohio GO |
||||||||
5.00%, 09/15/26 |
100 | 120,496 | ||||||
Series B, 4.00%, 09/01/26 (Call 03/01/24) |
100 | 108,059 | ||||||
Series S, 5.00%, 05/01/26 |
150 | 178,876 | ||||||
Series S, 5.00%, 05/01/28 (Call 05/01/26) |
100 | 118,859 | ||||||
Series S, 5.00%, 05/01/30 (Call 05/01/26) |
100 | 118,713 | ||||||
Series U, 5.00%, 05/01/26 |
205 | 244,464 | ||||||
State of Ohio RB |
||||||||
5.00%, 12/15/28 (Call 06/15/26) |
395 | 470,355 | ||||||
Series B, 5.00%, 10/01/26 |
60 | 72,326 | ||||||
|
|
|||||||
3,343,889 | ||||||||
Oklahoma — 0.7% | ||||||||
Grand River Dam Authority RB |
||||||||
Series A, 5.00%, 06/01/26 |
275 | 328,064 | ||||||
Series A, 5.00%, 06/01/28 (Call 12/01/26) |
110 | 133,061 | ||||||
Series A, 5.00%, 06/01/30 (Call 12/01/26) |
65 | 78,429 | ||||||
Oklahoma
Capitol Improvement Authority RB, |
100 | 118,679 | ||||||
Oklahoma
Water Resources Board RB, |
175 | 208,125 | ||||||
|
|
|||||||
866,358 | ||||||||
Oregon — 2.0% | ||||||||
City of Portland OR GOL, Series B, 5.00%, 06/15/26 |
150 | 179,824 | ||||||
City of Portland OR Sewer System Revenue RB |
||||||||
Series A, 5.00%, 05/01/27 (Call 05/01/26) |
185 | 220,070 | ||||||
Series B, 5.00%, 10/01/26 (Call 10/01/24) |
90 | 101,723 | ||||||
Oregon
State Lottery RB, |
300 | 345,439 | ||||||
Portland Community College District GO |
||||||||
5.00%, 06/15/26 |
150 | 179,672 | ||||||
5.00%, 06/15/28 (Call 06/15/26) |
110 | 131,261 | ||||||
5.00%, 06/15/29 (Call 06/15/26) |
105 | 125,136 | ||||||
Salem-Keizer School District No. 24J
GO, |
350 | 419,235 | ||||||
State
of Oregon Department of Transportation RB, |
100 | 121,222 |
SCHEDULES OF INVESTMENTS |
89 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Oregon (continued) | ||||||||
State of Oregon GO |
||||||||
5.00%, 05/01/26 |
$ | 130 | $ | 155,090 | ||||
5.00%, 06/01/29 (Call 06/01/26) |
100 | 118,997 | ||||||
Series C, 5.00%, 06/01/26 |
65 | 77,737 | ||||||
Series G, 5.00%, 12/01/29 (Call 12/01/26) |
135 | 163,246 | ||||||
Series O, 5.00%, 08/01/26 (Call 08/01/25) |
70 | 81,730 | ||||||
|
|
|||||||
2,420,382 | ||||||||
Pennsylvania — 2.8% | ||||||||
City of Philadelphia PA GO, Series A, 5.00%, 08/01/26 |
110 | 131,686 | ||||||
Commonwealth of Pennsylvania GO |
||||||||
5.00%, 09/15/29 (Call 09/15/26) |
125 | 149,758 | ||||||
First Series, 5.00%, 09/15/26 |
225 | 271,476 | ||||||
Second Series, 5.00%, 09/15/26 |
355 | 428,329 | ||||||
Second Series, 5.00%, 09/15/28 (Call 09/15/26) |
400 | 479,861 | ||||||
County of Bucks PA GO, 5.00%, 06/01/26 |
150 | 179,094 | ||||||
County
of Chester PA GO, |
200 | 230,582 | ||||||
Delaware
River Port Authority RB, Series B, |
240 | 282,656 | ||||||
Pennsylvania
State University (The) RB, |
240 | 284,651 | ||||||
Pennsylvania Turnpike Commission RB |
||||||||
5.00%, 06/01/26 |
100 | 118,749 | ||||||
Series A 1, 5.00%, 12/01/26 |
150 | 181,218 | ||||||
Series A-2, 5.00%, 12/01/26 |
305 | 368,478 | ||||||
School
District of Philadelphia (The) GOL, |
100 | 119,786 | ||||||
University
of Pittsburgh-of the Commonwealth
System of Higher Education RB, |
150 | 170,836 | ||||||
|
|
|||||||
3,397,160 | ||||||||
Rhode Island — 0.2% | ||||||||
Rhode
Island Commerce Corp. RB, Series A, |
70 | 83,389 | ||||||
Rhode
Island Infrastructure Bank Water Pollution Control Revolving Fund
RB, |
125 | 146,513 | ||||||
|
|
|||||||
229,902 | ||||||||
Tennessee — 2.8% | ||||||||
City
of Knoxville TN Electric System Revenue RB, |
90 | 107,900 | ||||||
City of Memphis TN GO, Series A, 5.00%, 04/01/26 (Call 04/01/25) |
315 | 361,782 | ||||||
County of Blount TN Go, Series B, 5.00%, 06/01/26 |
75 | 89,547 | ||||||
County of Blount TN GO, Series B, 5.00%, 06/01/27 (Call 06/01/26) |
135 | 160,786 | ||||||
County of Montgomery TN GO, 5.00%, 04/01/26 |
140 | 166,668 | ||||||
County
of Washington TN GO, |
150 | 171,394 | ||||||
County of Williamson TN GO, 5.00%, 04/01/26 |
120 | 143,089 | ||||||
Metropolitan
Government of Nashville & Davidson County TN Electric Revenue
RB, |
365 | 435,945 | ||||||
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
4.00%, 01/01/28 (Call 07/01/26) |
170 | 194,223 | ||||||
5.00%, 01/01/26 |
80 | 94,508 | ||||||
5.00%, 01/01/27 (Call 07/01/26) |
150 | 179,365 | ||||||
Metropolitan
Government of Nashville & Davidson County TN Water &
Sewer Revenue RB, |
265 | 318,112 | ||||||
State of Tennessee GO |
||||||||
Series A, 5.00%, 08/01/26 |
95 | 114,468 | ||||||
Series A, 5.00%, 08/01/27 (Call 08/01/26) |
100 | 119,801 | ||||||
Series A, 5.00%, 08/01/28 (Call 08/01/26) |
190 | 226,983 | ||||||
Series B, 5.00%, 08/01/27 (Call 08/01/26) |
100 | 119,801 |
Security | Par (000) |
Value | ||||||
Tennessee (continued) | ||||||||
Tennessee State School Bond Authority RB |
||||||||
5.00%, 11/01/26 (ST HGR ED INTERCEPT PROG) |
$ | 205 | $ | 248,586 | ||||
Series B, 5.00%, 11/01/26 |
115 | 139,451 | ||||||
|
|
|||||||
3,392,409 | ||||||||
Texas — 11.9% | ||||||||
Aldine
Independent School District GO, |
50 | 59,150 | ||||||
Allen Independent School District GO |
||||||||
5.00%, 02/15/26 (PSF) |
95 | 112,474 | ||||||
5.00%, 02/15/27 (Call 02/15/26) (PSF) |
100 | 118,440 | ||||||
Alvin
Independent School District/TX GO, |
225 | 265,967 | ||||||
Austin Independent School District GO |
||||||||
5.00%, 08/01/28 (Call 08/01/26) (PSF) |
90 | 108,444 | ||||||
5.00%, 08/01/29 (Call 08/01/26) |
150 | 180,505 | ||||||
Series A, 5.00%, 08/01/30 (Call 08/01/26) (PSF) |
105 | 125,972 | ||||||
Series C, 5.00%, 08/01/26 |
100 | 120,077 | ||||||
Board of Regents of the University of Texas System |
||||||||
Series C, 5.00%, 08/15/26 |
140 | 168,515 | ||||||
Series J, 5.00%, 08/15/26 |
235 | 282,864 | ||||||
Board of Regents of the University of Texas System RB |
||||||||
5.00%, 08/15/27 (Call 08/15/26) |
150 | 179,924 | ||||||
5.00%, 08/15/28 (Call 08/15/26) |
100 | 119,585 | ||||||
City of Austin TX GOL |
||||||||
5.00%, 09/01/28 (Call 09/01/26) |
220 | 265,035 | ||||||
5.00%, 09/01/29 (Call 09/01/26) |
125 | 150,522 | ||||||
City of Austin TX Water & Wastewater System Revenue RB 5.00%, 11/15/26 |
260 | 314,746 | ||||||
5.00%, 11/15/30 (Call 11/15/26) |
110 | 132,557 | ||||||
City of Dallas TX Waterworks & Sewer System Revenue RB |
||||||||
Series A, 5.00%, 10/01/27 (Call 10/01/26) |
100 | 121,135 | ||||||
Series A, 5.00%, 10/01/29 (Call 10/01/26) |
170 | 205,014 | ||||||
City of Fort Worth TX GOL, 5.00%, 03/01/26 |
60 | 70,965 | ||||||
City of Houston TX Combined Utility System Revenue RB |
||||||||
5.00%, 11/15/26 |
135 | 163,649 | ||||||
Series B, 5.00%, 11/15/28 (Call 11/15/26) |
100 | 121,001 | ||||||
Series D, 5.00%, 11/15/26 (Call 11/15/24) |
50 | 56,906 | ||||||
City of San Antonio TX Electric & Gas Systems Revenue RB |
||||||||
5.00%, 02/01/26 (Call 02/01/24) |
125 | 137,617 | ||||||
5.00%, 02/01/30 (Call 08/01/26) |
215 | 256,721 | ||||||
Series A, 5.00%, 02/01/26 |
100 | 118,257 | ||||||
City of San Antonio TX GOL |
||||||||
5.00%, 02/01/26 (Call 02/01/25) |
200 | 229,713 | ||||||
5.00%, 08/01/26 |
205 | 246,371 | ||||||
Clear Creek Independent School District GO |
||||||||
Series A, 5.00%, 02/15/26 (Call 02/15/25) (PSF) |
60 | 68,771 | ||||||
Series D, 5.00%, 02/15/26 (Call 02/15/24) (PSF) |
70 | 77,366 | ||||||
Conroe
Independent School District GO, |
150 | 177,870 | ||||||
County of Bexar TX GOL |
||||||||
5.00%, 06/15/26 (Call 06/15/24) |
90 | 100,816 | ||||||
5.00%, 06/15/29 (Call 06/15/26) |
250 | 298,572 | ||||||
County
of Fort Bend TX GOL, |
120 | 141,987 | ||||||
County of Harris TX GO, Series A, 5.00%, 10/01/26 |
120 | 144,716 | ||||||
County of Harris TX RB, 5.00%, 08/15/26 (Call 08/15/25) |
100 | 116,697 | ||||||
County
of Travis TX GOL, |
210 | 248,378 | ||||||
Crowley
Independent School District GO, |
45 | 52,376 | ||||||
Cypress-Fairbanks
Independent School District GO, |
255 | 302,142 |
90 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
Dallas Area Rapid Transit RB |
||||||||
5.00%, 12/01/26 |
$ | 100 | $ | 121,145 | ||||
Series A, 5.00%, 12/01/26 (PR 12/01/24) |
60 | 68,459 | ||||||
Series B, 5.00%, 12/01/28 (Call 12/01/26) |
200 | 242,069 | ||||||
Dallas/Fort
Worth International Airport RB, |
160 | 192,391 | ||||||
Denton Independent School District GO |
||||||||
5.00%, 08/15/27 (Call 02/15/26) (PSF) |
135 | 159,580 | ||||||
5.00%, 08/15/29 ( 02/15/26) (PSF) |
150 | 176,754 | ||||||
Keller
Independent School District/TX GO, |
150 | 172,034 | ||||||
Klein
Independent School District GO, |
75 | 89,747 | ||||||
Leander Independent School District GO |
||||||||
5.00%, 08/15/28 (Call 02/15/26) (PSF) |
100 | 117,975 | ||||||
Series A, 5.00%, 08/15/27 (Call 08/15/26) (PSF) |
100 | 120,158 | ||||||
Series C, 5.00%, 08/15/26 (PSF) |
100 | 120,211 | ||||||
Lewisville
Independent School District RB, |
140 | 168,368 | ||||||
Lone
Star College System GOL, |
100 | 117,605 | ||||||
Lower Colorado River Authority RB |
||||||||
5.00%, 05/15/26 |
100 | 119,239 | ||||||
5.00%, 05/15/26 (Call 05/15/24) |
135 | 150,558 | ||||||
Series B, 5.00%, 05/15/26 (Call 05/15/25) |
45 | 51,972 | ||||||
Mansfield
Independent School District GO, |
100 | 117,975 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue RB |
||||||||
5.00%, 11/01/27 (Call 11/01/26) |
210 | 254,534 | ||||||
5.00%, 11/01/28 ( 11/01/26) |
165 | 199,991 | ||||||
5.00%, 11/01/29 ( 11/01/26) |
135 | 163,186 | ||||||
North East Independent School District/TX GO |
||||||||
4.00%, 08/01/27 (Call 08/01/26) (PSF) |
150 | 172,820 | ||||||
4.00%, 08/01/30 (Call 08/01/26) (PSF) |
150 | 171,161 | ||||||
North
Texas Municipal Water District RB, |
125 | 148,871 | ||||||
North
Texas Municipal Water District Water System Revenue RB, |
35 | 41,815 | ||||||
North Texas Tollway Authority RB |
||||||||
5.00%, 01/01/26 |
250 | 294,433 | ||||||
Series A, 5.00%, 01/01/26 |
30 | 35,332 | ||||||
Series A, 5.00%, 01/01/28 (Call 01/01/26) |
120 | 140,626 | ||||||
Series B, 5.00%, 01/01/27 (Call 01/01/26) |
150 | 175,657 | ||||||
Series B, 5.00%, 01/01/29 (Call 01/01/26) |
180 | 208,967 | ||||||
Northside
Independent School District GO, |
190 | 219,764 | ||||||
Northside
Independent School District RB, |
130 | 151,706 | ||||||
Northwest
Independent School District GO, |
230 | 271,770 | ||||||
Permanent
University Fund - Texas A&M University System RB, |
210 | 247,412 | ||||||
Plano Independent School District GO |
||||||||
Series A, 5.00%, 02/15/28 (Call 02/15/26) (PSF) |
150 | 177,591 | ||||||
Series A, 5.00%, 02/15/29 (Call 02/15/26) |
100 | 117,929 | ||||||
San
Antonio Independent School District/TX GO, |
150 | 180,316 | ||||||
San
Jacinto Community College District, |
150 | 171,928 | ||||||
State of Texas GO |
||||||||
5.00%, 04/01/26 |
110 | 130,953 |
Security | Par (000) |
Value | ||||||
Texas (continued) | ||||||||
5.00%, 10/01/26 |
$ | 150 | $ | 181,218 | ||||
5.00%, 04/01/29 (Call 04/01/26) |
180 | 212,992 | ||||||
Series A, 5.00%, 04/01/29 (Call 04/01/26) |
100 | 118,329 | ||||||
Series B-1, 5.00%, 08/01/27 (Call 08/01/26) |
95 | 114,024 | ||||||
State of Texas GOL, 5.00%, 08/01/26 (Call 08/01/25) |
100 | 116,675 | ||||||
Texas A&M University RB |
||||||||
4.00%, 05/15/27 (05/15/26) |
100 | 114,588 | ||||||
4.00%, 05/15/28 (Call 05/15/26) |
100 | 114,107 | ||||||
Series C, 5.00%, 05/15/26 |
75 | 89,504 | ||||||
Series E, 4.00%, 05/15/27 (Call 05/15/26) |
100 | 114,588 | ||||||
Texas
State University System RB, |
70 | 83,054 | ||||||
Texas Transportation Commission State Highway Fund RB 5.25%, 04/01/26 |
85 | 102,115 | ||||||
Series A, 5.00%, 10/01/26 |
115 | 138,933 | ||||||
Series A, 5.00%, 10/01/30 (Call 10/01/26) |
200 | 240,228 | ||||||
Texas Water Development Board RB |
||||||||
5.00%, 04/15/26 (Call 10/15/25) |
90 | 106,042 | ||||||
Series A, 5.00%, 10/15/26 |
230 | 278,671 | ||||||
Series B, 5.00%, 04/15/26 |
70 | 83,567 | ||||||
Series B, 5.00%, 10/15/26 |
275 | 333,194 | ||||||
|
|
|||||||
14,686,648 | ||||||||
Utah — 0.9% | ||||||||
State of Utah GO, 5.00%, 07/01/26 |
660 | 793,291 | ||||||
University of Utah (The) RB |
||||||||
5.00%, 08/01/28 (Call 08/01/26) |
130 | 155,237 | ||||||
Series B-1, 5.00%, 08/01/26 (SAP) |
100 | 120,129 | ||||||
Utah
Transit Authority RB, |
65 | 75,465 | ||||||
|
|
|||||||
1,144,122 | ||||||||
Vermont — 0.1% | ||||||||
Vermont
Municipal Bond Bank RB, Series 4, |
100 | 121,480 | ||||||
|
|
|||||||
Virginia — 5.1% | ||||||||
City of Chesapeake VA GO, 5.00%, 08/01/26 (SAW) |
120 | 144,217 | ||||||
City
of Falls Church VA GO, |
175 | 210,584 | ||||||
City
of Newport News VA GO, Series A, |
180 | 207,748 | ||||||
City
of Norfolk VA GO, Series B, |
160 | 184,115 | ||||||
City
of Richmond VA GO, Series D, |
60 | 71,333 | ||||||
City
of Richmond VA Public Utility Revenue RB, |
175 | 207,065 | ||||||
City of Suffolk VA GO |
||||||||
5.00%, 02/01/26 |
80 | 94,827 | ||||||
5.00%, 02/01/26 (Call 02/01/25) (SAW) |
225 | 258,254 | ||||||
County of Arlington VA GO |
||||||||
5.00%, 08/15/26 |
40 | 48,252 | ||||||
Series A, 5.00%, 08/15/30 (PR 08/15/26) |
160 | 193,188 | ||||||
County
of Chesterfield VA GO, Series B, |
185 | 218,969 | ||||||
County
of Fairfax VA GO, |
115 | 131,814 | ||||||
County
of Fairfax VA Sewer Revenue RB, |
215 | 258,164 | ||||||
County of Henrico VA GO, 5.00%, 08/01/26 |
50 | 60,194 | ||||||
County of Loudoun VA GO |
||||||||
5.00%, 12/01/26 (SAW) |
95 | 115,512 | ||||||
Series A, 5.00%, 12/01/26 |
165 | 200,626 | ||||||
Series A, 5.00%, 12/01/26 (Call 12/01/25) |
175 | 206,584 | ||||||
Hampton
Roads Sanitation District RB, |
55 | 66,243 |
SCHEDULES OF INVESTMENTS |
91 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value |
||||||
Virginia (continued) | ||||||||
Prince William County Industrial Development Authority RB, 5.00%, 10/01/26 |
$ | 100 | $ | 120,597 | ||||
Virginia College Building Authority RB |
||||||||
5.00%, 02/01/29 (Call 02/01/26) |
150 | 176,213 | ||||||
5.00%, 09/01/29 (Call 09/01/26) (ST INTERCEPT) |
285 | 339,747 | ||||||
5.00%, 09/01/29 (PR 09/01/26) (ST INTERCEPT) |
15 | 18,031 | ||||||
Series A, 5.00%, 02/01/26 |
160 | 189,580 | ||||||
Series
A, 5.00%, 09/01/27 (Call 09/01/26) |
250 | 300,648 | ||||||
Series B, 5.00%, 09/01/26 (Call 09/01/25) |
75 | 87,646 | ||||||
Virginia Commonwealth Transportation Board RB |
||||||||
5.00%, 05/15/26 (Call 05/15/24) |
100 | 111,713 | ||||||
5.00%, 09/15/26 |
200 | 240,992 | ||||||
5.00%, 09/15/27 (Call 09/15/26) |
200 | 240,461 | ||||||
Series A, 5.00%, 05/15/26 |
165 | 196,908 | ||||||
Virginia Public Building Authority RB |
||||||||
Series A, 5.00%, 08/01/26 |
115 | 138,089 | ||||||
Series B, 5.00%, 08/01/26 |
205 | 246,158 | ||||||
Series C, 4.00%, 08/01/26 (Call 08/01/24) |
100 | 109,701 | ||||||
Virginia
Public School Authority RB, Series B, |
215 | 258,389 | ||||||
Virginia Resources Authority RB |
||||||||
5.00%, 11/01/26 |
110 | 133,086 | ||||||
5.00%, 11/01/26 ( 11/01/25) |
100 | 117,732 | ||||||
Series A, 5.00%, 11/01/26 |
300 | 362,963 | ||||||
|
|
|||||||
6,266,343 | ||||||||
Washington — 4.2% | ||||||||
Central Puget Sound Regional Transit Authority RB |
||||||||
5.00%, 11/01/26 |
225 | 272,540 | ||||||
Series S-1, 5.00%, 11/01/26 (Call 11/01/25) |
70 | 82,382 | ||||||
City of Seattle WA Drainage & Wastewater Revenue RB, 5.00%, 07/01/26 |
95 | 114,040 | ||||||
City of Seattle WA GOL, Series A, 5.00%, 06/01/26 (Call 06/01/25) |
175 | 202,944 | ||||||
City of Seattle WA Municipal Light & Power Revenue RB 4.00%, 04/01/29 (Call 04/01/26) |
75 | 85,009 | ||||||
Series B, 5.00%, 04/01/26 |
105 | 124,849 | ||||||
Series B, 5.00%, 04/01/27 (Call 04/01/26) |
80 | 95,008 | ||||||
Series B, 5.00%, 04/01/28 (Call 04/01/26) |
80 | 94,740 | ||||||
City
of Seattle WA Water System Revenue RB, |
130 | 156,438 | ||||||
City of Spokane WA GO, 5.00%, 12/01/26 |
120 | 145,508 | ||||||
Clark
County School District No. 37 Vancouver GO, |
165 | 200,442 | ||||||
County of King WA GOL, 5.00%, 07/01/26( 01/01/25) |
85 | 97,114 | ||||||
County of King WA Sewer Revenue RB, Series B, 5.00%, 07/01/26 |
110 | 131,934 | ||||||
County of Pierce WA GOL, Series A, 5.00%, 07/01/26 |
85 | 101,646 | ||||||
County of Spokane WA GOL, 5.00%, 12/01/26 |
60 | 72,721 | ||||||
Energy Northwest RB |
||||||||
Series A, 5.00%, 07/01/26 |
545 | 653,674 | ||||||
Series C-1, 5.00%, 07/01/26 (Call 07/01/24) |
100 | 111,982 | ||||||
King
County School District No. 401 Highline GO, |
140 | 169,448 | ||||||
King County School District No. 414 Lake Washington GO, 4.00%, 12/01/26 (Call 06/01/26) (GTD) |
90 | 103,405 | ||||||
Pierce County School District No. 402 Franklin Pierce GO, 5.00%, 12/01/27 (Call 12/01/26) (GTD) |
100 | 121,368 | ||||||
Port of Tacoma WA GOL, Series A, 5.00%, 12/01/29 (Call 12/01/26) |
100 | 120,702 | ||||||
State of Washington GO |
||||||||
0.00%, 06/01/26 (AMBAC)(a) |
100 | 95,967 | ||||||
5.00%, 08/01/26 |
65 | 78,118 |
Security | Par/ Shares (000) |
Value | ||||||
Washington (continued) | ||||||||
Series 2017-A, 5.00%, 08/01/30 (Call 08/01/26) |
$ | 100 | $ | 119,767 | ||||
Series 2020-A, 5.00%, 08/01/26 |
110 | 132,199 | ||||||
Series B, 5.00%, 02/01/26 (Call 02/01/25) |
150 | 171,551 | ||||||
Series B, 5.00%, 08/01/28 (Call 08/01/26) |
100 | 119,870 | ||||||
Series B, 5.00%, 07/01/30 (Call 01/01/26) |
190 | 222,999 | ||||||
Series B, 5.00%, 08/01/30 (Call 08/01/26) |
235 | 281,451 | ||||||
Series C, 5.00%, 02/01/26 |
75 | 88,796 | ||||||
Series R, 5.00%, 08/01/28 (Call 08/01/26) |
125 | 149,967 | ||||||
University of Washington RB |
||||||||
Series A, 5.00%, 12/01/26 |
225 | 273,329 | ||||||
Series A, 5.00%, 12/01/28 (Call 12/01/26) |
140 | 169,369 | ||||||
|
|
|||||||
5,161,277 | ||||||||
West Virginia — 0.7% | ||||||||
School
Building Authority of West Virginia RB, |
100 | 112,124 | ||||||
State of West Virginia GO |
||||||||
5.00%, 12/01/26 |
110 | 133,628 | ||||||
Series A, 0.00%, 11/01/26 (NPFGC)(a) |
100 | 95,579 | ||||||
Series B, 5.00%, 12/01/26 |
130 | 157,923 | ||||||
West Virginia Commissioner of Highways RB, 5.00%, 09/01/26 |
130 | 155,995 | ||||||
West
Virginia Parkways Authority RB, |
155 | 184,831 | ||||||
|
|
|||||||
840,080 | ||||||||
Wisconsin — 1.6% | ||||||||
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/26 |
45 | 53,818 | ||||||
State of Wisconsin GO |
||||||||
5.00%, 11/01/26 |
155 | 187,108 | ||||||
Series 1, 4.00%, 11/01/26 (Call 05/01/25) |
115 | 128,695 | ||||||
Series 1, 5.00%, 11/01/26 (Call 05/01/25) |
325 | 375,497 | ||||||
Series 3, 5.00%, 11/01/26 |
85 | 102,561 | ||||||
State of Wisconsin RB |
||||||||
Series A, 5.00%, 05/01/26 |
235 | 280,469 | ||||||
Series B, 5.00%, 05/01/28 (Call 05/01/26) |
180 | 214,034 | ||||||
Wisconsin Department of Transportation RB |
||||||||
5.00%, 07/01/27 (Call 07/01/26) |
300 | 360,280 | ||||||
Series 1, 5.00%, 07/01/26 (Call 07/01/25) |
150 | 174,661 | ||||||
Series 2, 5.00%, 07/01/26 |
95 | 114,186 | ||||||
WPPI
Energy RB, Series A, |
35 | 39,343 | ||||||
|
|
|||||||
2,030,652 | ||||||||
|
|
|||||||
Total
Municipal Debt Obligations — 98.8% |
|
121,771,566 | ||||||
|
|
|||||||
Short-Term Investments |
| |||||||
Money Market Funds — 0.5% | ||||||||
BlackRock Liquidity Funds: MuniCash, 0.01%(b)(c) |
605 | 604,744 | ||||||
|
|
|||||||
Total
Short-Term Investments — 0.5% |
604,744 | |||||||
|
|
|||||||
Total
Investments in Securities — 99.3% |
122,376,310 | |||||||
Other Assets, Less Liabilities — 0.7% |
|
825,356 | ||||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 123,201,666 | |||||
|
|
(a) |
Zero-coupon bond. |
(b) |
Affiliate of the Fund. |
(c) |
Annualized 7-day yield as of period end. |
92 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 158,237 | $ | 446,139 | (a) | $ | — | $ | 363 | $ | 5 | $ | 604,744 | 605 | $ | 45 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 121,771,566 | $ | — | $ | 121,771,566 | ||||||||
Money Market Funds |
604,744 | — | — | 604,744 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 604,744 | $ | 121,771,566 | $ | — | $ | 122,376,310 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULES OF INVESTMENTS |
93 |
Schedule of Investments October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations |
| |||||||
Alabama — 1.7% | ||||||||
Alabama Federal Aid Highway Finance Authority RB |
||||||||
Series A, 5.00%, 09/01/27 |
$ | 100 | $ | 123,944 | ||||
Series A, 5.00%, 09/01/29 (PR 09/01/27) |
100 | 123,944 | ||||||
Alabama Highway Finance Corp. RB, 5.00%, 08/01/27 |
45 | 55,491 | ||||||
Alabama
Public School and College Authority RB, Series A, |
300 | 371,531 | ||||||
City of Huntsville AL, 5.00%, 11/01/27( 05/01/27) |
100 | 122,326 | ||||||
City of Huntsville AL GOL, Series A, 5.00%, 05/01/28 |
||||||||
(Call 11/01/27) |
60 | 74,358 | ||||||
State of Alabama GO, Series C, 5.00%, 08/01/27 (Call 08/01/26) |
130 | 155,271 | ||||||
|
|
|||||||
1,026,865 | ||||||||
Arizona — 1.7% | ||||||||
Arizona State University RB, Series B, 5.00%, 07/01/30 |
||||||||
(Call 07/01/27) |
135 | 164,696 | ||||||
City of Phoenix AZ GO, 5.00%, 07/01/27 (Call 07/01/26) |
120 | 143,684 | ||||||
City
of Phoenix Civic Improvement Corp. RB |
220 | 263,421 | ||||||
Series D, 5.00%, 07/01/29 ( 07/01/27) |
100 | 121,350 | ||||||
Maricopa
County Unified School District No. 48 Scottsdale GO, |
40 | 48,956 | ||||||
Maricopa
County Union High School District No. 210-Phoenix GO, |
65 | 79,872 | ||||||
Salt River Project Agricultural Improvement & Power District RB, |
||||||||
Series A, 5.00%, 01/01/29 (Call 01/01/27) |
110 | 132,764 | ||||||
State of Arizona COP, Series A, 5.00%, 10/01/27 |
100 | 123,813 | ||||||
|
|
|||||||
1,078,556 | ||||||||
California — 12.4% | ||||||||
California
Infrastructure & Economic Development Bank RB, |
110 | 134,425 | ||||||
California State Public Works Board RB |
||||||||
5.00%, 09/01/29 (Call 09/01/27) |
125 | 154,036 | ||||||
Series C, 5.00%, 03/01/28 (Call 03/01/27) |
70 | 85,213 | ||||||
Series G, 5.00%, 10/01/31 (Call 10/01/27) |
185 | 228,268 | ||||||
California State University RB |
||||||||
Series A, 5.00%, 11/01/27 (Call 11/01/25) |
55 | 64,705 | ||||||
Series A, 5.00%, 11/01/27 (Call 05/01/26) |
50 | 59,601 | ||||||
Series A, 5.00%, 11/01/30 (Call 05/01/27) |
85 | 103,815 | ||||||
City
of Los Angeles Department of Airports RB, |
55 | 67,541 | ||||||
City of San Francisco CA Public Utilities Commission Water Revenue RB |
||||||||
5.00%, 11/01/27 (Call 05/01/25) |
50 | 57,712 | ||||||
Series D, 5.00%, 11/01/30 (Call 11/01/27) |
220 | 273,741 | ||||||
Coast Community College District GO, Series D, 5.00%, 08/01/28 |
||||||||
(Call 08/01/27) |
120 | 148,317 | ||||||
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/27 (Call 03/01/25) |
90 | 103,506 | ||||||
County of Santa Clara CA GO, Series C, 5.00%, 08/01/31 |
||||||||
(Call 08/01/27) |
180 | 220,590 | ||||||
East Bay Municipal Utility District Wastewater System Revenue RB, Series A, 5.00%, 06/01/28 (Call 06/01/27) |
130 | 160,359 | ||||||
East Bay Municipal Utility District Water System Revenue RB, |
||||||||
Series B, 5.00%, 06/01/27 |
60 | 74,059 | ||||||
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
Series A, 5.00%, 06/01/27 |
100 | 123,617 | ||||||
Series A, 5.00%, 07/01/29 (Call 07/01/27) |
160 | 197,327 | ||||||
Los Angeles Department of Water & Power System Revenue RB, |
||||||||
Series C, 5.00%, 07/01/28 (Call 07/01/27) |
150 | 184,796 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Los Angeles Department of Water RB, Series A, 5.00%, 07/01/30 |
||||||||
(Call 01/01/27) |
$ | 145 | $ | 175,698 | ||||
Los Angeles Unified School District/CA GO |
||||||||
Series A, 5.00%, 07/01/27 |
175 | 215,911 | ||||||
Series B1, 5.00%, 07/01/27 |
60 | 74,027 | ||||||
Metropolitan
Water District of Southern California RB, Series C, |
55 | 68,593 | ||||||
Modesto
Irrigation District RB, Series A, 5.00%, |
40 | 46,539 | ||||||
Mountain View Los Altos Union High School District/CA GO, |
||||||||
Series C, 0.00%, 08/01/27(a) |
150 | 140,782 | ||||||
Municipal
Improvement Corp. of Los Angeles RB, Series B, |
190 | 229,565 | ||||||
Newport Mesa Unified School District GO, 0.00%, 08/01/27 |
||||||||
(NPFGC)(a) |
215 | 202,019 | ||||||
Palo Alto Unified School District GO, 0.00%, 08/01/27(a) |
130 | 123,556 | ||||||
Riverside
County Transportation Commission RB, Series B, 5.00%, |
100 | 124,389 | ||||||
San
Diego Unified School District/CA GO, Series J, 5.00%, |
100 | 123,392 | ||||||
San Francisco Bay Area Rapid Transit District Sales Tax Revenue |
||||||||
RB, Series A, 5.00%, 07/01/29 (Call 07/01/27) |
100 | 122,583 | ||||||
San
Francisco City & County Airport Commission San
Francisco |
||||||||
(Call 05/01/26) |
100 | 118,727 | ||||||
San Jose Unified School District GO, Series C, 0.00%, 08/01/27 |
||||||||
(NPFGC)(a) |
95 | 89,366 | ||||||
San Mateo County Community College District GO |
||||||||
Series A, 0.00%, 09/01/27 (NPFGC)(a) |
200 | 188,264 | ||||||
Series B, 0.00%, 09/01/27 (NPFGC)(a) |
100 | 94,132 | ||||||
San
Mateo Union High School District GO, Series C, 0.00%, |
75 | 70,272 | ||||||
Santa Monica Public Financing Authority RB, 5.00%, 07/01/31 |
||||||||
(Call 07/01/27) |
45 | 55,240 | ||||||
Southern
California Public Power Authority RB, Series C, 5.00%, |
70 | 79,928 | ||||||
State of California Department of Water Resources RB, |
||||||||
Series AX, 5.00%, 12/01/31 (Call 12/01/27) |
115 | 142,577 | ||||||
State of California GO 4.00%, 08/01/27 (Call 08/01/26) |
35 | 40,336 | ||||||
5.00%, 04/01/27 |
125 | 153,033 | ||||||
5.00%, 11/01/27 |
150 | 186,261 | ||||||
5.00%, 12/01/27 |
80 | 99,549 | ||||||
5.00%, 08/01/28 (Call 08/01/27) |
230 | 285,296 | ||||||
5.00%, 11/01/28 (Call 11/01/27) |
315 | 393,360 | ||||||
5.00%, 08/01/29 (Call 08/01/27) |
200 | 247,964 | ||||||
5.00%, 08/01/30 (Call 08/01/27) |
405 | 500,513 | ||||||
5.00%, 11/01/30 (Call 11/01/27) |
100 | 124,428 | ||||||
5.00%, 11/01/31 (Call 11/01/27) |
110 | 136,484 | ||||||
Series C, 5.00%, 08/01/27 (Call 08/01/26) |
70 | 84,272 | ||||||
University of California RB |
||||||||
Series AY, 5.00%, 05/15/30 (Call 05/15/27) |
195 | 238,867 | ||||||
Series I, 5.00%, 05/15/27 (Call 05/15/25) |
190 | 220,162 | ||||||
West
Valley-Mission Community College District GO, Series B, |
45 | 52,504 | ||||||
|
|
|||||||
7,690,217 | ||||||||
Colorado — 0.6% |
||||||||
City & County of Denver Co. Airport System Revenue RB, |
||||||||
Series B, 5.00%, 12/01/27 |
45 | 55,576 |
94 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Colorado (continued) | ||||||||
Denver City & County School District No. 1 GO, 4.00%, 12/01/27 (SAW) |
$ | 150 | $ | 177,301 | ||||
State of Colorado COP, Series K, 5.00%, 03/15/27 |
100 | 121,698 | ||||||
|
|
|||||||
354,575 | ||||||||
Connecticut — 1.5% | ||||||||
State of Connecticut Clean Water Fund - State Revolving Fund |
||||||||
RB, Series A, 5.00%, 05/01/29 (Call 05/01/27) |
150 | 182,906 | ||||||
State of Connecticut GO |
||||||||
Series A, 5.00%, 04/15/29 (Call 04/15/27) |
200 | 242,637 | ||||||
Series B, 4.00%, 06/01/27 |
100 | 117,371 | ||||||
Series F, 5.00%, 11/15/27 (Call 11/15/25) |
100 | 116,948 | ||||||
State of Connecticut Special Tax Revenue RB |
||||||||
Series A, 5.00%, 01/01/27 |
105 | 127,599 | ||||||
Series B, 5.00%, 10/01/27 |
100 | 123,800 | ||||||
|
|
|||||||
911,261 | ||||||||
Delaware — 0.2% | ||||||||
Delaware Transportation Authority RB, 5.00%, 07/01/27 |
100 | 123,253 | ||||||
|
|
|||||||
District of Columbia — 1.6% | ||||||||
District of Columbia GO |
||||||||
Series A, 5.00%, 10/15/27 |
100 | 124,240 | ||||||
Series D, 5.00%, 06/01/27 |
100 | 123,123 | ||||||
Series E, 5.00%, 06/01/27 (Call 12/01/26) |
150 | 182,136 | ||||||
District of Columbia RB |
||||||||
Series A, 5.00%, 03/01/27 |
160 | 195,747 | ||||||
Series C, 5.00%, 05/01/27 |
50 | 61,433 | ||||||
District of Columbia Water & Sewer Authority RB |
||||||||
Series A, 5.00%, 10/01/27 (Call 10/01/25) |
55 | 64,372 | ||||||
Series B, 5.00%, 10/01/27 |
50 | 62,096 | ||||||
Washington Metropolitan Area Transit Authority RB |
||||||||
5.00%, 07/01/27 |
50 | 61,316 | ||||||
Series A-1, 5.00%, 07/01/29 (Call 07/01/27) |
100 | 121,903 | ||||||
|
|
|||||||
996,366 | ||||||||
Florida — 3.0% | ||||||||
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/27 (Call 10/01/26) |
85 | 101,294 | ||||||
County of Miami-Dade FL GO, Series A, 5.00%, 07/01/27 |
100 | 122,879 | ||||||
County of Miami-Dade FL Water & Sewer System Revenue RB, |
||||||||
Series B, 5.00%, 10/01/27 |
170 | 210,129 | ||||||
Florida Department of Environmental Protection RB |
||||||||
Series A, 5.00%, 07/01/27 |
100 | 122,569 | ||||||
Series A, 5.00%, 07/01/27 (Call 07/01/26) |
100 | 119,940 | ||||||
Florida Department of Management Services RB, Series A, 3.00%, 09/01/31 (Call 09/01/27) |
100 | 107,519 | ||||||
Hillsborough County School Board COP, Series B, 5.00%, 07/01/27 |
30 | 36,604 | ||||||
Palm Beach County School District COP |
||||||||
Series A, 5.00%, 08/01/27 |
85 | 104,441 | ||||||
Series B, 5.00%, 08/01/27 |
115 | 141,303 | ||||||
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/27 |
45 | 54,711 | ||||||
State of Florida Department of Transportation Turnpike System RB |
||||||||
Series A, 5.00%, 07/01/27 |
120 | 147,754 | ||||||
Series A, 5.00%, 07/01/29 (Call 07/01/27) |
50 | 61,199 | ||||||
State of Florida GO |
||||||||
Series A, 5.00%, 07/01/27 |
60 | 73,914 | ||||||
Series B, 5.00%, 06/01/30 (Call 06/01/27) |
40 | 48,912 | ||||||
Series C, 5.00%, 06/01/27 |
125 | 153,674 | ||||||
Series D, 5.00%, 06/01/27 |
65 | 79,910 |
Security | Par (000) |
Value | ||||||
Florida (continued) | ||||||||
State of Florida Lottery Revenue RB, Series A, 5.00%, 07/01/27 |
$ | 138 | $ | 170,003 | ||||
|
|
|||||||
1,856,755 | ||||||||
Georgia — 2.3% | ||||||||
City of Atlanta GA Department of Aviation RB, Series A, 5.00%, 07/01/27 |
105 | 128,958 | ||||||
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
Series A, 5.00%, 11/01/31 (Call 11/01/27) |
100 | 123,287 | ||||||
Series B, 5.00%, 11/01/29 (Call 11/01/27) |
75 | 92,562 | ||||||
Series C, 5.00%, 11/01/28 (Call 11/01/27) |
100 | 123,422 | ||||||
County of Columbia GA GO, 5.00%, 01/01/27 |
20 | 24,384 | ||||||
Georgia Ports Authority RB, 5.00%, 07/01/27 |
200 | 246,088 | ||||||
Georgia State Road & Tollway Authority RB, 5.00%, 06/01/27 |
130 | 159,184 | ||||||
Metropolitan Atlanta Rapid Transit Authority RB |
||||||||
Series A, 5.25%, 07/01/27 (NPFGC) |
100 | 124,384 | ||||||
Series D, 4.00%, 07/01/27 |
50 | 58,742 | ||||||
State of Georgia GO |
||||||||
Series C, 5.00%, 07/01/29 (Call 07/01/27) |
210 | 257,424 | ||||||
Series F, 5.00%, 07/01/27 (Call 01/01/27) |
75 | 91,143 | ||||||
|
|
|||||||
1,429,578 | ||||||||
Hawaii — 1.6% | ||||||||
City & County Honolulu HI Wastewater System Revenue RB, |
||||||||
Series A, 5.00%, 07/01/27 (Call 07/01/25) |
145 | 168,093 | ||||||
City & County of Honolulu HI GO |
||||||||
Series B, 5.00%, 10/01/27 (Call 10/01/25) |
100 | 116,787 | ||||||
Series C, 4.00%, 08/01/27 |
120 | 141,256 | ||||||
Series D, 5.00%, 09/01/31 (Call 09/01/27) |
40 | 48,831 | ||||||
State of Hawaii GO |
||||||||
Series FE, 5.00%, 10/01/27 (Call 10/01/26) |
100 | 120,758 | ||||||
Series FH, 5.00%, 10/01/27 (Call 10/01/26) |
75 | 90,568 | ||||||
Series FK, 5.00%, 05/01/28 (Call 05/01/27) |
135 | 164,920 | ||||||
Series FN, 5.00%, 10/01/30 (Call 10/01/27) |
125 | 153,400 | ||||||
|
|
|||||||
1,004,613 | ||||||||
Idaho — 0.3% | ||||||||
Idaho Housing & Finance Association RB, Series A, 5.00%, 07/15/27 |
165 | 201,908 | ||||||
|
|
|||||||
Illinois — 3.7% | ||||||||
Chicago O’Hare International Airport RB |
||||||||
Series A, 5.00%, 01/01/28 (Call 01/01/27) |
65 | 78,107 | ||||||
Series B, 5.00%, 01/01/27 (Call 01/01/25) |
100 | 113,845 | ||||||
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/27 |
100 | 121,597 | ||||||
Illinois Finance Authority RB, 5.00%, 07/01/29 (Call 01/01/27) |
285 | 344,612 | ||||||
Illinois State Toll Highway Authority RB |
||||||||
Series B, 5.00%, 01/01/27 |
100 | 120,902 | ||||||
Series B, 5.00%, 01/01/27 (Call 07/01/26) |
125 | 149,226 | ||||||
State of Illinois GO |
||||||||
5.00%, 06/01/27 (Call 06/01/26) |
100 | 116,352 | ||||||
Series A, 5.00%, 03/01/27 |
160 | 189,753 | ||||||
Series B, 5.00%, 09/01/27 |
125 | 149,412 | ||||||
Series D, 5.00%, 11/01/27 |
450 | 539,553 | ||||||
Series D, 5.00%, 11/01/28 (Call 11/01/27) |
100 | 119,219 | ||||||
State of Illinois Sales Tax Revenue RB, Series C, 5.00%, 06/15/27 |
200 | 241,153 | ||||||
|
|
|||||||
2,283,731 | ||||||||
Indiana — 1.0% | ||||||||
Indiana Finance Authority RB, Series C, 5.00%, 06/01/27 (Call 12/01/26) |
290 | 350,843 |
SCHEDULES OF INVESTMENTS |
95 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Indiana (continued) | ||||||||
Indianapolis Local Public Improvement Bond Bank RB, Series A, 5.00%, 01/15/29 (Call 01/15/27) |
$ | 225 | $ | 271,461 | ||||
|
|
|||||||
622,304 | ||||||||
Iowa — 0.1% | ||||||||
Iowa Finance Authority, 5.00%, 08/01/27 (Call 08/01/25) |
65 | 75,590 | ||||||
|
|
|||||||
Kansas — 0.4% | ||||||||
State of Kansas Department of Transportation RB |
||||||||
5.00%, 09/01/27 (Call 09/01/25) |
95 | 110,413 | ||||||
Series A, 5.00%, 09/01/28 (Call 09/01/27) |
110 | 135,834 | ||||||
|
|
|||||||
246,247 | ||||||||
Louisiana — 0.9% | ||||||||
State of Louisiana Gasoline & Fuels Tax Revenue RB, Series B, 5.00%, 05/01/27 |
70 | 85,710 | ||||||
State of Louisiana GO |
||||||||
Series A, 5.00%, 03/01/27 |
75 | 91,492 | ||||||
Series B, 5.00%, 08/01/27 (Call 08/01/26) |
200 | 239,189 | ||||||
Series B, 5.00%, 10/01/27 |
25 | 30,934 | ||||||
State of Louisiana RB, 5.00%, 09/01/27 |
100 | 123,366 | ||||||
|
|
|||||||
570,691 | ||||||||
Maine — 0.2% | ||||||||
Maine Municipal Bond Bank RB, 5.00%, 11/01/27 |
120 | 148,218 | ||||||
|
|
|||||||
Maryland — 5.1% | ||||||||
City of Baltimore MD GO, Series A, 5.00%, 10/15/27 |
45 | 55,790 | ||||||
City of Baltimore MD RB, Series B, 5.00%, 07/01/31 (Call 01/01/27) |
100 | 119,895 | ||||||
County of Anne Arundel MD GOL 5.00%, 10/01/27 |
105 | 130,264 | ||||||
5.00%, 10/01/29 (Call 10/01/27) |
155 | 191,808 | ||||||
County of Baltimore MD GO 5.00%, 03/01/27 |
105 | 128,335 | ||||||
5.00%, 08/01/27 |
190 | 234,656 | ||||||
County of Howard MD GO, Series B, 5.00%, 02/15/28 (Call 02/15/27) |
150 | 182,199 | ||||||
County of Montgomery MD GO |
||||||||
Series A, 5.00%, 11/01/27 |
185 | 229,844 | ||||||
Series C, 5.00%, 10/01/27 |
100 | 123,996 | ||||||
County of Prince George’s MD GOL, Series A, 5.00%, 07/15/27 |
415 | 511,980 | ||||||
State of Maryland Department of Transportation RB 4.00%, 09/01/27 |
55 | 64,972 | ||||||
5.00%, 10/01/27 (Call 10/01/26) |
55 | 66,276 | ||||||
5.00%, 12/01/27 (Call 12/01/26) |
100 | 121,060 | ||||||
5.00%, 09/01/30 (Call 09/01/27) |
115 | 140,101 | ||||||
State of Maryland GO |
||||||||
Series A, 5.00%, 03/15/27 |
300 | 367,036 | ||||||
Series A, 5.00%, 03/15/28 (Call 03/15/27) |
100 | 121,567 | ||||||
Series A, 5.00%, 08/01/29 ( 08/01/27) |
150 | 185,022 | ||||||
Washington Suburban Sanitary Commission RB 3.00%, 06/01/27 (GTD) |
75 | 83,814 | ||||||
5.00%, 06/15/28 (Call 06/15/27) (GTD) |
60 | 73,533 | ||||||
|
|
|||||||
3,132,148 | ||||||||
Massachusetts — 2.8% | ||||||||
City of Boston MA GO, Series A, 5.00%, 05/01/27 |
40 | 49,195 | ||||||
Commonwealth of Massachusetts GOL |
||||||||
Series B, 5.00%, 07/01/27 |
45 | 55,408 | ||||||
Series C, 5.00%, 05/01/27 |
195 | 239,117 | ||||||
Series D, 5.00%, 07/01/27 |
80 | 98,503 | ||||||
Series E, 5.00%, 11/01/27 |
180 | 223,394 | ||||||
Series G, 5.00%, 09/01/27 |
50 | 61,811 |
Security |
Par (000) |
Value | ||||||
Massachusetts (continued) | ||||||||
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/30 (Call 12/01/27) |
$ | 100 | $ | 123,555 | ||||
Massachusetts Bay Transportation Authority RB |
||||||||
Series A, 5.00%, 07/01/27 |
235 | 289,352 | ||||||
Series A-2, 5.00%, 07/01/28 (Call 07/01/27) |
100 | 122,699 | ||||||
Massachusetts Clean Water Trust (The) RB, 5.25%, 08/01/27 |
20 | 25,019 | ||||||
Massachusetts School Building Authority RB, Series C, 5.00%, 08/15/27 (Call 08/15/25) |
200 | 232,459 | ||||||
Massachusetts Water Resources Authority RB, Series B, 5.00%, 08/01/29 (Call 08/01/27) |
135 | 166,008 | ||||||
University of Massachusetts Building Authority RB, 5.00%, 11/01/27 |
55 | 68,441 | ||||||
|
|
|||||||
1,754,961 | ||||||||
Michigan — 1.1% | ||||||||
Michigan State Building Authority RB, 5.00%, 10/15/27 |
200 | 247,693 | ||||||
State of Michigan RB, 5.00%, 03/15/27 |
220 | 268,770 | ||||||
State of Michigan Trunk Line Revenue RB, Series B, 5.00%, 11/15/27 |
50 | 62,048 | ||||||
University of Michigan RB, Series A, 5.00%, 04/01/29 (Call 04/01/27) |
75 | 91,076 | ||||||
|
|
|||||||
669,587 | ||||||||
Minnesota — 1.1% | ||||||||
State of Minnesota GO |
||||||||
Series A, 5.00%, 10/01/28 (Call 10/01/27) |
160 | 198,002 | ||||||
Series A, 5.00%, 10/01/31 (Call 10/01/27) |
100 | 122,613 | ||||||
Series D, 5.00%, 08/01/27 (Call 08/01/26) |
125 | 150,161 | ||||||
Series D, 5.00%, 10/01/27 |
50 | 61,998 | ||||||
University of Minnesota RB, Series B, 5.00%, 12/01/29 (Call 12/01/27) |
130 | 160,262 | ||||||
|
|
|||||||
693,036 | ||||||||
Mississippi — 0.4% | ||||||||
State of Mississippi GO |
||||||||
Series A, 5.00%, 10/01/28 (Call 10/01/27) |
120 | 148,345 | ||||||
Series C, 5.00%, 10/01/27 (Call 10/01/25) |
90 | 105,017 | ||||||
|
|
|||||||
253,362 | ||||||||
Missouri — 0.3% | ||||||||
Metropolitan St Louis Sewer District RB, Series A, 5.00%, 05/01/28 (Call 05/01/27) |
135 | 165,408 | ||||||
|
|
|||||||
Nebraska — 0.6% | ||||||||
City of Lincoln NE Electric System Revenue RB, 5.00%, 09/01/27 (Call 03/01/27) |
90 | 109,320 | ||||||
Nebraska Public Power District RB |
||||||||
Series A, 5.00%, 01/01/27 (Call 01/01/26) |
75 | 88,098 | ||||||
Series B, 5.00%, 01/01/28 (Call 01/01/27) |
50 | 60,222 | ||||||
Omaha Public Power District RB, Series A, 5.00%, 02/01/30 (Call 12/01/27) |
75 | 92,677 | ||||||
|
|
|||||||
350,317 | ||||||||
Nevada — 2.1% | ||||||||
County of Clark NV GOL 4.00%, 11/01/31 (Call 11/01/27) |
100 | 115,898 | ||||||
5.00%, 06/01/27 |
25 | 30,658 | ||||||
5.00%, 11/01/27 |
145 | 179,574 | ||||||
County of Clark NV Passenger Facility Charge RB, Series C, 5.00%, 07/01/27 |
75 | 92,113 | ||||||
County of Clark NV RB 5.00%, 07/01/27 |
125 | 153,556 | ||||||
5.00%, 07/01/30 (Call 07/01/27) |
25 | 30,407 | ||||||
County of Washoe NV RB, 5.00%, 02/01/27 |
35 | 42,465 |
96 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Nevada (continued) | ||||||||
Las Vegas Valley Water District GOL, Series A, 5.00%, 06/01/27 (Call 06/01/25) |
$ | 50 | $ | 57,791 | ||||
State of Nevada GOL |
||||||||
5.00%, 08/01/27 |
150 | 184,875 | ||||||
Series D, 5.00%, 04/01/27 (Call 04/01/25) |
25 | 28,722 | ||||||
State of Nevada Highway Improvement Revenue RB |
||||||||
5.00%, 12/01/27 |
100 | 124,236 | ||||||
5.00%, 12/01/27 (Call 06/01/26) |
125 | 148,436 | ||||||
Washoe County School District/NV GOL, 5.00%, 04/01/27 |
100 | 122,129 | ||||||
|
|
|||||||
1,310,860 | ||||||||
New Hampshire — 0.4% |
||||||||
State of New Hampshire GO |
||||||||
Series B, 4.00%, 12/01/30 (Call 12/01/27) |
120 | 140,088 | ||||||
Series D, 5.00%, 12/01/27 |
100 | 124,571 | ||||||
|
|
|||||||
264,659 | ||||||||
New Jersey — 1.7% |
||||||||
New Jersey Economic Development Authority RB |
||||||||
5.00%, 06/15/27 |
70 | 84,921 | ||||||
Series A, 4.00%, 11/01/27 (SAP) |
135 | 157,043 | ||||||
Series A, 5.00%, 11/01/27 |
80 | 97,902 | ||||||
New Jersey Turnpike Authority RB |
||||||||
Series A, 5.00%, 01/01/29 (Call 01/01/27) |
100 | 120,358 | ||||||
Series A, 5.25%, 01/01/27 (AGM) |
250 | 307,396 | ||||||
State of New Jersey GO |
||||||||
5.00%, 06/01/27 |
10 | 12,117 | ||||||
5.00%, 06/01/27 (Call 06/01/25) |
45 | 51,744 | ||||||
Series A, 5.00%, 06/01/27 |
175 | 212,054 | ||||||
|
|
|||||||
1,043,535 | ||||||||
New Mexico — 0.7% |
||||||||
New Mexico Finance Authority RB, Series A, 5.00%, 06/01/27 |
25 | 30,689 | ||||||
State of New Mexico GO, 5.00%, 03/01/27 |
150 | 183,248 | ||||||
State of New Mexico Severance Tax Permanent Fund RB, 5.00%, 07/01/27 |
185 | 227,903 | ||||||
|
|
|||||||
441,840 | ||||||||
New York — 10.9% |
||||||||
City of New York NY GO |
||||||||
Series 1, 5.00%, 08/01/27 |
155 | 190,744 | ||||||
Series 1, 5.00%, 08/01/29 (Call 08/01/27) |
100 | 122,216 | ||||||
Series A, 5.00%, 08/01/27 |
140 | 172,285 | ||||||
Series A, 5.00%, 08/01/28 (Call 08/01/27) |
335 | 410,880 | ||||||
Series C, 5.00%, 08/01/27 (Call 02/01/26) |
15 | 17,649 | ||||||
Hudson Yards Infrastructure Corp. RB, Series A, 5.00%, 02/15/27 |
175 | 213,942 | ||||||
Long Island Power Authority RB, Series A, 5.00%, 09/01/27 |
100 | 123,430 | ||||||
Metropolitan Transportation Authority RB |
||||||||
Series A-2, 5.00%, 11/15/27 (Call 11/15/26) |
25 | 29,706 | ||||||
Series B-2, 5.00%, 11/15/27 ( 11/15/26) |
180 | 215,687 | ||||||
Series C-1, 5.00%, 11/15/27 (Call 11/15/25) |
70 | 81,197 | ||||||
Series D, 5.00%, 11/15/27 (Call 11/15/26) |
55 | 65,352 | ||||||
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
Series B-1, 5.00%, 07/15/27 (SAW) |
100 | 123,033 | ||||||
Series S-3, 5.00%, 07/15/27 (SAW) |
145 | 178,397 | ||||||
Series S-4A, 5.00%, 07/15/27 (SAW) |
130 | 159,942 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
5.00%, 11/01/29 (Call 11/01/27) |
100 | 123,613 | ||||||
Series B-1, 5.00%, 08/01/28 (Call 08/01/27) |
100 | 123,407 | ||||||
Series B-1, 5.00%, 08/01/29 (Call 08/01/27) |
180 | 221,118 | ||||||
Series C, 5.00%, 11/01/27 (Call 05/01/25) |
150 | 172,967 |
Security | Par (000) |
Value | ||||||
New York (continued) | ||||||||
Series C, 5.00%, 11/01/29 (Call 05/01/27) |
$ | 140 | $ | 170,540 | ||||
New York City Water & Sewer System RB |
||||||||
Series AA, 5.00%, 06/15/27 |
280 | 344,378 | ||||||
Series BB-2, 5.00%, 06/15/31 (Call 06/15/27) |
95 | 115,186 | ||||||
New York State Dormitory Authority RB |
||||||||
Series A, 5.00%, 02/15/27 (Call 08/15/26) |
100 | 120,420 | ||||||
Series A, 5.00%, 03/15/27 |
100 | 121,794 | ||||||
Series A, 5.00%, 07/01/27 (Call 07/01/25) |
200 | 231,028 | ||||||
Series A, 5.00%, 02/15/29 (Call 02/15/27) |
150 | 181,798 | ||||||
Series A, 5.00%, 02/15/30 (Call 02/15/27) |
150 | 180,990 | ||||||
Series B, 5.00%, 02/15/27 (Call 02/15/25) |
125 | 142,920 | ||||||
Series B, 5.00%, 03/15/27 (Call 09/15/25) |
160 | 186,803 | ||||||
Series B, 5.00%, 02/15/31 (Call 08/15/27) |
200 | 244,315 | ||||||
Series E, 5.00%, 03/15/27 |
100 | 122,206 | ||||||
New York State Environmental Facilities Corp. RB |
||||||||
5.00%, 06/15/27 ( 06/15/26) |
100 | 119,984 | ||||||
5.00%, 06/15/29 (Call 06/15/27) |
200 | 245,746 | ||||||
New York State Urban Development Corp. RB |
||||||||
5.00%, 03/15/27 |
100 | 122,030 | ||||||
Series A, 5.00%, 03/15/27 (Call 03/15/26) |
140 | 165,378 | ||||||
Series A, 5.00%, 03/15/28 (Call 03/15/27) |
100 | 121,685 | ||||||
Series A, 5.00%, 03/15/29 (Call 03/15/27) |
100 | 121,294 | ||||||
Series C, 5.00%, 03/15/31 (Call 09/15/27) |
110 | 134,544 | ||||||
Port Authority of New York & New Jersey RB, 5.00%, 11/15/31 (Call 11/15/27) |
200 | 245,530 | ||||||
State of New York GO, Series A, 5.00%, 03/01/27 |
55 | 67,482 | ||||||
Triborough Bridge & Tunnel Authority RB |
||||||||
Series B, 5.00%, 11/15/27 (Call 05/15/27) |
205 | 250,776 | ||||||
Series B, 5.00%, 11/15/31 (Call 05/15/27) |
100 | 121,115 | ||||||
Series C-1, 5.00%, 11/15/27 |
70 | 86,820 | ||||||
|
|
|||||||
6,710,327 | ||||||||
North Carolina — 2.5% |
||||||||
City of Charlotte NC GO, Series A, 5.00%, 06/01/27 |
260 | 320,441 | ||||||
County of Guilford NC GO |
||||||||
Series B, 5.00%, 05/01/27 |
100 | 122,988 | ||||||
Series B, 5.00%, 05/01/28 (Call 05/01/27) |
100 | 122,464 | ||||||
County of Mecklenburg NC GO |
||||||||
5.00%, 03/01/27 |
130 | 159,273 | ||||||
Series A, 5.00%, 04/01/27 |
45 | 55,253 | ||||||
Series A, 5.00%, 04/01/28 (Call 04/01/27) |
125 | 152,585 | ||||||
Mecklenburg County Public Facilities Corp. RB, 5.00%, 02/01/27 |
50 | 60,865 | ||||||
State of North Carolina GO, 5.00%, 06/01/27 (Call 06/01/26) |
125 | 148,814 | ||||||
State of North Carolina RB |
||||||||
5.00%, 03/01/27 |
160 | 195,184 | ||||||
Series B, 5.00%, 05/01/27 |
20 | 24,537 | ||||||
Series B, 5.00%, 05/01/28 (Call 05/01/27) |
150 | 183,064 | ||||||
|
|
|||||||
1,545,468 | ||||||||
Ohio — 2.4% |
||||||||
City of Columbus OH GOL |
||||||||
Series 4, 5.00%, 02/15/27 |
50 | 61,010 | ||||||
Series 4, 5.00%, 02/15/28 (Call 02/15/27) |
120 | 145,759 | ||||||
Ohio State University (The) RB, Series A, 5.00%, 12/01/27 |
150 | 186,454 | ||||||
Ohio Turnpike & Infrastructure Commission RB, Series A, 5.00%, 02/15/30 (Call 02/15/27) |
110 | 132,474 | ||||||
Ohio Water Development Authority RB, Series A, 5.00%, 12/01/27 |
150 | 186,353 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund RB |
||||||||
Series A, 5.00%, 06/01/29 (Call 06/01/27) |
45 | 55,182 |
SCHEDULES OF INVESTMENTS |
97 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Ohio (continued) | ||||||||
Series A, 5.00%, 12/01/29 (Call 06/01/27) |
$ | 65 | $ | 79,674 | ||||
Series B, 5.00%, 06/01/27 (Call 12/01/25) |
55 | 64,683 | ||||||
Series B, 5.00%, 12/01/27 |
100 | 124,236 | ||||||
State
of Ohio GO |
45 | 55,572 | ||||||
Series C, 5.00%, 08/01/27 |
45 | 55,463 | ||||||
Series T, 5.00%, 05/01/30 (Call 05/01/27) |
240 | 292,090 | ||||||
Series U, 5.00%, 05/01/27 |
20 | 24,525 | ||||||
State of Ohio RB, Series B, 5.00%, 10/01/27 |
25 | 30,820 | ||||||
|
|
|||||||
1,494,295 | ||||||||
Oklahoma — 0.7% | ||||||||
Grand River Dam Authority RB, Series A, 5.00%, 06/01/27 (Call 12/01/26) |
125 | 151,434 | ||||||
Oklahoma Turnpike Authority RB |
||||||||
Series E, 4.00%, 01/01/31 (Call 01/01/27) |
110 | 125,395 | ||||||
Series E, 5.00%, 01/01/27 |
25 | 30,423 | ||||||
University of Oklahoma (The) RB, Series B, 5.00%, 07/01/27 (Call 07/01/26) |
100 | 117,965 | ||||||
|
|
|||||||
425,217 | ||||||||
Oregon — 1.8% | ||||||||
City of Portland OR Sewer System Revenue RB, Series A, 5.00%, 05/01/27 (Call 05/01/26) |
200 | 237,914 | ||||||
Hillsboro School District No.1J GO, 5.00%, 06/15/28 (Call 06/15/27) (GTD) |
150 | 184,759 | ||||||
Oregon State Lottery RB, Series D, 5.00%, 04/01/27 (Call 04/01/25) (MO) |
100 | 114,853 | ||||||
State of Oregon Department of Transportation RB |
||||||||
Series A, 5.00%, 11/15/27 (Call 05/15/27) |
130 | 158,950 | ||||||
Series B, 5.00%, 11/15/29 (Call 05/15/27) |
145 | 176,638 | ||||||
State of Oregon GO |
||||||||
Series I, 5.00%, 08/01/28 (Call 08/01/27) |
100 | 123,028 | ||||||
Series L, 5.00%, 08/01/30 (Call 08/01/27) |
75 | 91,883 | ||||||
|
|
|||||||
1,088,025 | ||||||||
Pennsylvania — 2.1% | ||||||||
City of Philadelphia PA GO |
||||||||
Series A, 5.00%, 08/01/27 (Call 08/01/25) |
65 | 75,444 | ||||||
Series B, 5.00%, 08/01/27 (Call 08/01/25) |
100 | 116,068 | ||||||
Commonwealth of Pennsylvania GO |
||||||||
First Series, 5.00%, 01/01/27 |
60 | 73,016 | ||||||
First Series, 5.00%, 02/01/27 (Call 02/01/26) |
105 | 124,266 | ||||||
First Series, 5.00%, 09/15/27 (Call 09/15/26) |
245 | 295,347 | ||||||
First Series, 5.00%, 01/01/28 (Call 01/01/27) |
160 | 193,159 | ||||||
Second Series, 5.00%, 09/15/27 (Call 09/15/26) |
35 | 42,192 | ||||||
Pennsylvania Turnpike Commission RB |
||||||||
Series A2, 5.00%, 12/01/27 |
100 | 123,435 | ||||||
Series A2, 5.00%, 12/01/29 ( 12/01/27) |
100 | 122,420 | ||||||
Series A2, 5.00%, 12/01/30 (Call 12/01/27) |
125 | 152,263 | ||||||
|
|
|||||||
1,317,610 | ||||||||
Rhode Island — 0.7% | ||||||||
Rhode Island Commerce Corp. RB, Series B, 5.00%, 06/15/27 (Call 06/15/26) |
105 | 124,926 | ||||||
Rhode Island Infrastructure Bank Water Pollution Control |
||||||||
Revolving Fund RB, Series B, 5.00%, 10/01/30 (Call 10/01/27) . |
50 | 60,943 | ||||||
State of Rhode Island GO |
||||||||
Series B, 5.00%, 08/01/28 (Call 08/01/27) |
150 | 184,448 | ||||||
Series B, 5.00%, 08/01/29 (Call 08/01/27) |
25 | 30,632 | ||||||
|
|
|||||||
400,949 |
Security | Par (000) |
Value | ||||||
South Carolina — 0.2% | ||||||||
State of South Carolina GO, Series A, 4.00%, 04/01/31 (Call 10/01/27) (SAW) |
$ | 80 | $ | 93,447 | ||||
|
|
|||||||
Tennessee — 2.7% | ||||||||
City of Memphis TN Electric System Revenue RB, 5.00%, 12/01/28 (Call 12/01/27) |
95 | 117,360 | ||||||
County of Blount TN GO, Series B, 5.00%, 06/01/27 (Call 06/01/26) |
100 | 119,101 | ||||||
County of Hamilton TN GO, Series A, 5.00%, 04/01/27 |
55 | 67,433 | ||||||
County of Montgomery TN GO, 5.00%, 04/01/27 |
125 | 152,736 | ||||||
County of Shelby TN GO, Series A, 5.00%, 04/01/27 |
85 | 104,062 | ||||||
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/27 |
75 | 92,102 | ||||||
Metropolitan
Government of Nashville & Davidson County TN GO |
165 | 193,847 | ||||||
5.00%, 07/01/27 |
105 | 129,350 | ||||||
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB, Series B, 5.00%, 07/01/30 (Call 07/01/27) |
125 | 151,652 | ||||||
State of Tennessee GO |
||||||||
Series A, 5.00%, 11/01/27 |
75 | 93,379 | ||||||
Series B, 5.00%, 08/01/27 (Call 08/01/26) |
105 | 125,791 | ||||||
Tennessee State School Bond Authority RB |
||||||||
Series A, 5.00%, 11/01/31 (Call 11/01/27) (NPFGC) |
100 | 122,568 | ||||||
Series B, 5.00%, 11/01/27 (ST INTERCEPT) |
60 | 74,544 | ||||||
Series B, 5.00%, 11/01/28 (Call 11/01/27) (ST INTERCEPT) |
110 | 135,837 | ||||||
|
|
|||||||
1,679,762 | ||||||||
Texas — 10.0% | ||||||||
Alamo Community College District GOL, 5.00%, 08/15/30 (Call 08/15/27) |
110 | 134,275 | ||||||
Aldine Independent School District GO, 5.00%, 02/15/31 (Call 02/15/27) (PSF) |
155 | 186,812 | ||||||
Austin Independent School District GO, 5.00%, 08/01/27 (PSF) |
125 | 153,905 | ||||||
Board of Regents of the University of Texas System RB, Series E, 5.00%, 08/15/27 |
75 | 92,522 | ||||||
City
of Austin TX GOL |
60 | 74,212 | ||||||
5.00%, 09/01/28 (Call 09/01/27) |
110 | 135,341 | ||||||
City of Austin TX Water & Wastewater System Revenue RB, 5.00%, 11/15/27 |
50 | 62,147 | ||||||
City of Dallas TX Waterworks & Sewer System Revenue RB, Series A, 5.00%, 10/01/27 (Call 10/01/26) |
155 | 187,760 | ||||||
City of Houston TX Combined Utility System Revenue RB, Series B, 5.00%, 11/15/27 |
120 | 148,755 | ||||||
City of Plano TX GOL, 5.00%, 09/01/31 (Call 03/01/27) |
100 | 120,815 | ||||||
City of San Antonio Texas Electric & Gas Systems Revenue RB, 5.00%, 02/01/27 |
75 | 91,254 | ||||||
City of San Antonio TX Electric & Gas Systems Revenue RB, 5.00%, 02/01/27 |
75 | 91,254 | ||||||
City of San Antonio TX GOL, 5.00%, 08/01/27 |
35 | 43,115 | ||||||
Clear Creek Independent School District RB, 5.00%, 02/15/27 (PSF) |
115 | 140,190 | ||||||
Conroe
Independent School District GO |
30 | 35,462 | ||||||
5.00%, 02/15/30 (Call 02/15/27) (PSF) |
110 | 132,474 | ||||||
County
of Fort Bend TX GOL, Series B, 5.00%, 03/01/27 |
105 | 124,288 | ||||||
Dallas Area Rapid Transit RB, 5.00%, 12/01/27 |
100 | 124,035 | ||||||
Dallas
Fort Worth International Airport RB, Series A, |
125 | 154,066 |
98 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Texas (continued) |
||||||||
Fort Bend Independent School District GO, 4.00%, 08/15/31 (Call 08/15/27) (PSF) |
$ | 110 | $ | 127,700 | ||||
Lewisville Independent School District GO, Series A, 4.00%, 08/15/27 (Call 08/15/25) (PSF) |
100 | 112,553 | ||||||
Mesquite Independent School District GO, 5.00%, 08/15/29 (Call 08/15/27) (PSF) |
175 | 214,742 | ||||||
North Texas Municipal Water District Upper East Fork Wastewater Interceptor System Contract Revenue Refunding Bonds RB, 5.00%, 06/01/27 |
55 | 67,313 | ||||||
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/27 (Call 09/01/25) |
70 | 81,600 | ||||||
North Texas Tollway Authority RB |
||||||||
Series A, 5.00%, 01/01/27 (Call 01/01/26) |
100 | 117,329 | ||||||
Series B, 5.00%, 01/01/27 (Call 01/01/26) |
125 | 146,381 | ||||||
Northside Independent School District GO, Series A, 5.00%, 08/15/27 (PSF) |
30 | 36,990 | ||||||
Northside Independent School District RB, 5.00%, 08/15/27 (PSF) |
150 | 184,949 | ||||||
Northwest
Independent School District GO, 5.00%, 02/15/28 |
130 | 159,987 | ||||||
Permanent
University Fund - Texas A&M University System RB, |
20 | 23,177 | ||||||
Round Rock Independent School District GO, Series A, 5.00%, 08/01/27 (PSF) |
75 | 92,438 | ||||||
San Antonio Independent School District/TX GO, 5.00%, 08/15/27 (PSF) |
50 | 61,650 | ||||||
San Antonio Water System RB |
||||||||
Series A, 5.00%, 05/15/27 |
70 | 85,791 | ||||||
Series A, 5.00%, 05/15/30 (Call 05/15/27) |
180 | 218,644 | ||||||
Socorro Independent School District GO, Series B, 5.00%, 08/15/30 (Call 08/15/27) (PSF) |
70 | 85,360 | ||||||
Spring Independent School District GO, Series A, 5.00%, 08/15/27 (Call 08/15/26) |
120 | 143,939 | ||||||
State of Texas GO |
||||||||
Series A, 5.00%, 10/01/30 (Call 10/01/27) |
110 | 135,276 | ||||||
Series B, 5.00%, 10/01/29 (Call 10/01/27) |
150 | 185,328 | ||||||
Series B, 5.00%, 10/01/30 (Call 10/01/27) |
100 | 122,978 | ||||||
Temple Independent School District/TX GO, 4.00%, 02/01/28 (Call 02/01/27) (PSF) |
100 | 115,493 | ||||||
Texas
A&M University RB |
150 | 171,881 | ||||||
Series C, 5.00%, 05/15/28 (Call 05/15/27) |
100 | 122,046 | ||||||
Series E, 4.00%, 05/15/27 (Call 05/15/26) |
85 | 97,399 | ||||||
Texas State University System RB |
||||||||
Series A, 5.00%, 03/15/27 (Call 03/15/25) |
100 | 113,983 | ||||||
Series A, 5.00%, 03/15/30 (Call 03/15/27) |
120 | 144,283 | ||||||
Texas
Water Development Board RB |
190 | 233,488 | ||||||
5.00%, 08/01/31 (Call 08/01/27) |
60 | 73,379 | ||||||
Series A, 5.00%, 10/15/27 |
95 | 117,965 | ||||||
Series A, 5.00%, 10/15/31 (Call 10/15/27) |
155 | 190,655 | ||||||
University of North Texas System RB |
||||||||
Series A, 5.00%, 04/15/27 |
40 | 48,779 | ||||||
Series A, 5.00%, 04/15/30 (Call 04/15/27) |
100 | 121,260 | ||||||
|
|
|||||||
6,187,418 | ||||||||
Utah — 1.3% | ||||||||
Central Utah Water Conservancy District RB, Series B, 5.00%, 10/01/30 (Call 10/01/27) |
100 | 122,720 | ||||||
Salt Lake City Corp. RB, 5.00%, 02/01/30 (Call 02/01/27) |
60 | 72,493 | ||||||
State of Utah GO, 5.00%, 07/01/28 (Call 07/01/27) |
310 | 381,332 |
Security | Par (000) |
Value | ||||||
Utah (continued) |
||||||||
University of Utah (The) RB, Series A, 5.00%, 08/01/27 (Call 08/01/25) |
$ | 60 | $ | 69,399 | ||||
Utah Water Finance Agency RB, Series A, 5.00%, 03/01/28 (Call 03/01/27) |
110 | 133,585 | ||||||
|
|
|||||||
779,529 | ||||||||
Vermont — 0.2% | ||||||||
State of Vermont GO, Series B, 5.00%, 08/15/27 |
100 | 123,873 | ||||||
|
|
|||||||
Virginia — 3.1% | ||||||||
City of Newport News VA GO, Series A, 4.00%, 08/01/31 (Call 08/01/27) |
180 | 207,714 | ||||||
City of Norfolk VA GO, Series B, 4.00%, 10/01/27 (Call 10/01/26) |
75 | 86,647 | ||||||
City of Richmond VA GO, 5.00%, 07/15/27 |
60 | 74,096 | ||||||
County of Arlington VA GO, 5.00%, 06/15/27 |
75 | 92,430 | ||||||
County of Henrico VA GO, Series A, 5.00%, 08/01/27 (SAW) |
65 | 80,359 | ||||||
County of Loudoun VA GO, Series A, 5.00%, 12/01/27 (SAW) |
50 | 62,319 | ||||||
Hampton Roads Sanitation District RB, Series A, 5.00%, 10/01/29 (Call 10/01/27) |
210 | 259,051 | ||||||
Virginia
College Building Authority RB |
100 | 123,430 | ||||||
Series A, 5.00%, 09/01/27 (Call 09/01/26) (ST INTERCEPT) |
180 | 216,467 | ||||||
Series A, 5.00%, 09/01/27 (PR 09/01/26) (ST INTERCEPT) |
5 | 6,010 | ||||||
Virginia
Commonwealth Transportation Board RB |
40 | 48,198 | ||||||
Series A, 5.00%, 05/15/29 (Call 11/15/27) |
310 | 384,391 | ||||||
Series A, 5.00%, 05/15/30 (Call 11/15/27) |
60 | 74,129 | ||||||
Virginia
Public Building Authority RB |
30 | 35,296 | ||||||
Series A, 4.00%, 08/01/31 ( 08/01/27) |
100 | 116,849 | ||||||
Virginia Resources Authority RB, 5.00%, 11/01/27 |
60 | 74,346 | ||||||
|
|
|||||||
1,941,732 | ||||||||
Washington — 6.4% | ||||||||
Auburn School District No. 408 of King & Pierce Counties GOL, 5.00%, 12/01/31 (Call 12/01/27) (GTD) |
160 | 198,261 | ||||||
Central Puget Sound Regional Transit Authority RB, Series S-1, 5.00%, 11/01/27 (Call 11/01/26) |
55 | 66,393 | ||||||
City of Seattle WA Drainage & Wastewater Revenue RB, 5.00%, 04/01/27 (Call 04/01/26) |
85 | 100,905 | ||||||
City of Seattle WA GOL, Series A, 5.00%, 05/01/27 |
180 | 220,833 | ||||||
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
Series A, 5.00%, 07/01/27 |
115 | 141,311 | ||||||
Series B, 5.00%, 04/01/27 (Call 04/01/26) |
160 | 190,016 | ||||||
Clark County School District No. 114 Evergreen GO, 5.00%, 12/01/27 (GTD) |
105 | 130,658 | ||||||
County
of King WA GOL |
160 | 182,694 | ||||||
Series E, 5.00%, 12/01/27 (Call 12/01/25) |
80 | 94,261 | ||||||
County of King WA Sewer Revenue RB, Series B, 5.00%, 07/01/27 (Call 07/01/26) |
45 | 53,881 | ||||||
Energy Northwest RB |
||||||||
Series A, 5.00%, 07/01/27 |
60 | 73,728 | ||||||
Series A, 5.00%, 07/01/29 (Call 07/01/27) |
170 | 208,391 | ||||||
Series C, 5.00%, 07/01/27 |
205 | 251,903 | ||||||
King County School District No. 405 Bellevue GO, 5.00%, 12/01/27 (Call 12/01/26) (GTD) |
70 | 84,841 | ||||||
King County School District No. 414 Lake Washington GO, 4.00%, 12/01/27 (GTD) |
210 | 249,178 | ||||||
Kitsap County School District No. 401 Central Kitsap GO, 5.00%, 12/01/27 (GTD) |
30 | 37,130 |
SCHEDULES OF INVESTMENTS |
99 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value |
||||||
Washington (continued) | ||||||||
Pierce County School District No. 402 Franklin Pierce GO, 5.00%, 12/01/29 (Call 12/01/27) (GTD) |
$ | 170 | $ | 211,501 | ||||
Port of Seattle WA RB, 5.00%, 02/01/27 (Call 02/01/26) |
135 | 158,715 | ||||||
Spokane County School District No. 356 Central Valley GO, 5.00%, 12/01/28 (Call 12/01/27) (GTD) |
125 | 155,423 | ||||||
State of Washington COP, Series B, 5.00%, 07/01/27 |
115 | 141,311 | ||||||
State of Washington GO |
||||||||
Series A, 5.00%, 08/01/31 (Call 08/01/27) |
100 | 122,425 | ||||||
Series D, 5.00%, 02/01/27 |
100 | 121,672 | ||||||
Series E, 5.00%, 07/01/27 (Call 01/01/25) |
75 | 85,307 | ||||||
Series R, 5.00%, 08/01/27 |
205 | 252,533 | ||||||
Series R, 5.00%, 08/01/27 (Call 08/01/26) |
130 | 156,168 | ||||||
Series R-2018-C, 5.00%, 08/01/29 (Call 08/01/27) |
100 | 122,529 | ||||||
University of Washington RB, Series B, 5.00%, 06/01/27 (Call 06/01/25) |
75 | 86,802 | ||||||
Washington State University RB, 5.00%, 04/01/27 (Call 04/01/25) . |
35 | 39,822 | ||||||
|
|
|||||||
3,938,592 | ||||||||
West Virginia — 1.2% | ||||||||
State of West Virginia GO |
||||||||
Series A, 5.00%, 06/01/27 |
135 | 166,134 | ||||||
Series A, 5.00%, 12/01/27 |
50 | 62,285 | ||||||
West
Virginia Commissioner of Highways RB, Series A, |
225 | 275,402 | ||||||
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/27 (Call 07/01/25) |
220 | 255,125 | ||||||
|
|
|||||||
758,946 | ||||||||
Wisconsin — 3.0% | ||||||||
Milwaukee Metropolitan Sewerage District GO, Series A, 5.00%, 10/01/27 (Call 10/01/26) |
150 | 181,622 | ||||||
State of Wisconsin GO 5.00%, 05/01/27 (Call 05/01/25) |
75 | 86,512 |
Security | Par/ Shares (000) |
Value | ||||||
Wisconsin (continued) | ||||||||
5.00%, 11/01/31 (Call 05/01/27) |
$ | 110 | $ | 133,472 | ||||
Series 2, 4.00%, 11/01/27 (Call 05/01/26) |
130 | 148,487 | ||||||
Series 2, 5.00%, 11/01/27 (Call 05/01/26) |
190 | 225,925 | ||||||
Series 3, 5.00%, 11/01/30 (Call 05/01/27) |
150 | 182,124 | ||||||
State of Wisconsin RB, Series A, 5.00%, 05/01/27 |
245 | 300,578 | ||||||
Wisconsin Department of Transportation RB |
||||||||
Series 1, 5.00%, 07/01/27 |
85 | 104,977 | ||||||
Series 2, 5.00%, 07/01/30 (Call 07/01/27) |
180 | 220,039 | ||||||
Series 2, 5.00%, 07/01/31 (Call 07/01/27) |
215 | 262,592 | ||||||
|
|
|||||||
1,846,328 | ||||||||
Total
Municipal Debt Obligations — 98.7% |
61,031,959 | |||||||
|
|
|||||||
Short-Term Investments |
||||||||
Money Market Funds — 0.5% |
||||||||
BlackRock Liquidity Funds: MuniCash, 0.01%(b)(c) |
281 | 281,268 | ||||||
|
|
|||||||
Total
Short-Term Investments — 0.5% |
281,268 | |||||||
|
|
|||||||
Total
Investments in Securities — 99.2% |
61,313,227 | |||||||
Other Assets, Less Liabilities — 0.8% |
489,021 | |||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 61,802,248 | ||||||
|
|
(a) |
Zero-coupon bond. |
(b) |
Affiliate of the Fund. |
(c) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 187,748 | $ | 93,574 | (a) | $ | — | $ | (63 | ) | $ | 9 | $ | 281,268 | 281 | $ | 25 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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.
100 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF |
Fair Value Hierarchy as of Period End (continued)
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 61,031,959 | $ | — | $ | 61,031,959 | ||||||||
Money Market Funds |
281,268 | — | — | 281,268 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 281,268 | $ | 61,031,959 | $ | — | $ | 61,313,227 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULES OF INVESTMENTS |
101 |
Schedule of Investments October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Municipal Debt Obligations |
||||||||
Alabama — 1.5% | ||||||||
Alabama Federal Aid Highway Finance Authority RB, Series A, 5.00%, 09/01/28 (Call 09/01/27) |
$ | 90 | $ | 111,549 | ||||
Alabama
Highway Finance Corp. RB, Series A, |
50 | 63,160 | ||||||
Alabama Public School and College Authority RB, Series A, 5.00%, 11/01/28 |
250 | 317,026 | ||||||
City of Huntsville AL GOL, Series B, 5.00%, 05/01/28 (Call 11/01/27) |
75 | 92,947 | ||||||
State of Alabama GO |
||||||||
Series A, 4.00%, 11/01/28 (Call 02/01/26) |
20 | 22,577 | ||||||
Series A, 5.00%, 11/01/29 (Call 11/01/28) |
55 | 69,530 | ||||||
Series A, 5.00%, 11/01/32 (Call 11/01/28) |
70 | 87,871 | ||||||
University of Alabama (The) RB, Series C, 5.00%, 07/01/28 |
225 | 283,006 | ||||||
|
|
|||||||
1,047,666 | ||||||||
Arizona — 1.4% | ||||||||
City of Mesa AZ Utility System Revenue RB, 5.00%, 07/01/29 (Call 07/01/28) |
50 | 62,492 | ||||||
City
of Phoenix Civic Improvement Corp. RB |
100 | 119,432 | ||||||
Series A, 5.00%, 07/01/29 (Call 07/01/28) |
110 | 137,885 | ||||||
Series D, 5.00%, 07/01/28 (Call 07/01/27) |
15 | 18,284 | ||||||
Maricopa County Union High School District No. 210-Phoenix GO, 5.00%, 07/01/28 (Call 07/01/27) |
25 | 30,597 | ||||||
Salt River Project Agricultural Improvement & Power District RB 5.00%, 01/01/29 (Call 01/01/28) |
100 | 124,255 | ||||||
5.00%, 01/01/31 (Call 01/01/28) |
55 | 67,945 | ||||||
Series A, 5.00%, 01/01/28 (Call 01/01/27) |
200 | 242,124 | ||||||
State of Arizona Lottery Revenue RB, 5.00%, 07/01/28 |
150 | 189,046 | ||||||
|
|
|||||||
992,060 | ||||||||
California — 13.4% | ||||||||
Beverly Hills Unified School District CA GO, 0.00%, 08/01/28(a) |
35 | 32,304 | ||||||
California Infrastructure & Economic Development Bank RB 5.00%, 10/01/28 (Call 04/01/26) |
75 | 89,106 | ||||||
5.00%, 10/01/28 (Call 04/01/27) |
85 | 103,874 | ||||||
5.00%, 10/01/28 (Call 04/01/28) |
55 | 69,059 | ||||||
5.00%, 10/01/32 (Call 04/01/28) |
150 | 186,299 | ||||||
California State Public Works Board RB 4.00%, 10/01/28 (Call 10/01/26) |
50 | 57,614 | ||||||
5.00%, 09/01/28 (Call 09/01/27) |
25 | 30,839 | ||||||
Series B, 5.00%, 05/01/28 |
100 | 125,079 | ||||||
Series C, 5.00%, 11/01/28 |
90 | 113,852 | ||||||
Series C, 5.00%, 11/01/28 (Call 11/01/26) |
25 | 30,192 | ||||||
Series C, 5.00%, 11/01/31 (Call 11/01/28) |
75 | 94,354 | ||||||
Series G, 5.00%, 10/01/28 (Call 10/01/27) |
80 | 98,897 | ||||||
California State University RB |
||||||||
Series A, 5.00%, 11/01/28 (Call 05/01/26) |
185 | 220,342 | ||||||
Series A, 5.00%, 11/01/30 (Call 11/01/28) |
65 | 82,339 | ||||||
City of Los Angeles CA GO, Series B, 5.00%, 09/01/28 |
50 | 63,698 | ||||||
City of Los Angeles CA Wastewater System Revenue RB |
||||||||
Series A, 5.00%, 06/01/31 (Call 06/01/28) |
150 | 187,697 | ||||||
Series A, 5.00%, 06/01/32 (Call 06/01/28) |
100 | 124,821 | ||||||
City of Los Angeles Department of Airports RB, Series E, 5.00%, 05/15/28 |
25 | 31,424 | ||||||
City of Riverside CA Sewer Revenue RB, Series A, 5.00%, 08/01/29 (Call 08/01/28) |
75 | 94,352 | ||||||
City of Riverside CA Water Revenue RB, Series A, 5.00%, 10/01/28 |
50 | 63,940 | ||||||
City of San Francisco CA Public Utilities Commission Water Revenue RB, 5.00%, 11/01/28 (Call 11/01/26) |
125 | 151,303 |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
Coast Community College District GO |
||||||||
Series B, 0.00%, 08/01/28 (AGM)(a) |
$ | 330 | $ | 303,354 | ||||
Series D, 5.00%, 08/01/28 (Call 08/01/27) |
105 | 129,777 | ||||||
Fairfield-Suisun
Unified School District GO, |
100 | 119,110 | ||||||
Long
Beach Unified School District GO, |
175 | 210,680 | ||||||
Los Angeles Community College District/CA GO, Series J, 5.00%, 08/01/28 (Call 08/01/27) |
40 | 49,388 | ||||||
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
40 | 47,918 | ||||||
Series A, 5.00%, 07/01/28 (Call 07/01/27) |
100 | 123,447 | ||||||
Series B, 5.00%, 07/01/32 (Call 07/01/28) |
200 | 251,521 | ||||||
Los Angeles Department of Water & Power System Revenue RB |
||||||||
Series A, 5.00%, 07/01/32 (Call 01/01/28) |
35 | 43,125 | ||||||
Series D, 5.00%, 07/01/30 (Call 07/01/28) |
100 | 125,828 | ||||||
Los Angeles Department of Water RB |
||||||||
Series A, 5.00%, 07/01/28 (Call 01/01/26) |
35 | 41,379 | ||||||
Series A, 5.00%, 07/01/31 (Call 01/01/28) |
60 | 74,257 | ||||||
Series B, 5.00%, 07/01/31 (Call 07/01/28) |
80 | 100,500 | ||||||
Series B, 5.00%, 07/01/32 (Call 07/01/28) |
175 | 219,311 | ||||||
Los Angeles Unified School District/CA GO |
||||||||
Series B1, 5.00%, 07/01/28 (Call 01/01/28) |
195 | 242,802 | ||||||
Series B-1, 5.00%, 07/01/30 (Call 01/01/28) |
45 | 55,625 | ||||||
Series B-1, 5.00%, 07/01/32 (Call 01/01/28) |
100 | 122,878 | ||||||
Series M1, 5.00%, 07/01/28 (Call 01/01/28) |
100 | 124,514 | ||||||
Series M-1, 5.00%, 07/01/31 (Call 01/01/28) |
150 | 184,736 | ||||||
Metropolitan
Water District of Southern California RB |
95 | 119,809 | ||||||
Series B, 5.00%, 09/01/28 |
30 | 38,196 | ||||||
Napa
Valley Community College District GO, |
100 | 90,823 | ||||||
Newport
Mesa Unified School District GO, |
300 | 275,961 | ||||||
North Orange County Community College District/CA GO, Series B, 0.00%, 08/01/28 (NPFGC)(a) |
315 | 287,053 | ||||||
Poway Unified School District GO, Series A, 0.00%, 08/01/28(a) |
120 | 109,427 | ||||||
San Diego Community College District GO, 4.00%, 08/01/28 (Call 08/01/26) |
70 | 80,690 | ||||||
San Francisco Bay Area Rapid Transit District GO, Series A, 5.00%, 08/01/28 (Call 08/01/27) |
50 | 61,830 | ||||||
San Francisco Bay Area Rapid Transit District Sales Tax Revenue RB, 4.00%, 07/01/28 (Call 07/01/26) |
50 | 57,107 | ||||||
San Jose Evergreen Community College District GO, Series B, 0.00%, 09/01/28 (AGM)(a) |
50 | 45,637 | ||||||
San Jose Unified School District GO, Series C, 0.00%, 08/01/28 (NPFGC)(a) |
170 | 156,588 | ||||||
San Marcos Unified School District GO, 0.00%, 08/01/28(a) |
80 | 72,805 | ||||||
San Mateo County Community College District GO, Series B, 5.00%, 09/01/28 |
70 | 89,337 | ||||||
Santa Clara Valley Transportation Authority RB, Series B, 5.00%, 06/01/28 |
125 | 158,105 | ||||||
State of California Department of Water Resources RB 5.00%, 12/01/29 (Call 12/01/28) |
125 | 159,494 | ||||||
5.00%, 12/01/31 (Call 12/01/28) |
70 | 88,907 | ||||||
Series BA, 5.00%, 12/01/28 |
150 | 192,208 | ||||||
State of California GO 4.00%, 09/01/28 (Call 09/01/26) |
150 | 172,843 | ||||||
5.00%, 04/01/28 |
125 | 156,837 | ||||||
5.00%, 08/01/28 |
150 | 189,703 |
102 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
California (continued) | ||||||||
5.00%, 08/01/28 (Call 08/01/27) |
$ | 135 | $ | 167,456 | ||||
5.00%, 09/01/28 (Call 09/01/26) |
385 | 464,219 | ||||||
5.00%, 10/01/28 |
250 | 317,391 | ||||||
5.00%, 11/01/28 |
125 | 158,997 | ||||||
5.00%, 08/01/29 (Call 08/01/28) |
230 | 289,689 | ||||||
5.00%, 10/01/30 (Call 10/01/28) |
80 | 100,898 | ||||||
5.00%, 11/01/32 (Call 11/01/28) |
125 | 157,295 | ||||||
Series C, 5.00%, 08/01/28 (Call 08/01/26) |
250 | 300,712 | ||||||
University of California RB |
||||||||
Series AZ, 5.00%, 05/15/31 (Call 05/15/28) |
70 | 87,389 | ||||||
Series O, 5.00%, 05/15/30 (Call 05/15/28) |
100 | 124,863 | ||||||
William S Hart Union High School District GO, Series B, 0.00%, 09/01/28 (AGM)(a) |
210 | 190,767 | ||||||
|
|
|||||||
9,584,571 | ||||||||
Colorado — 1.0% | ||||||||
Board of Governors of Colorado State University System RB |
||||||||
Series C, 5.00%, 03/01/28 |
110 | 137,198 | ||||||
Series C, 5.00%, 03/01/29 (Call 03/01/28) |
50 | 61,994 | ||||||
City & County of Denver Co. Airport System Revenue RB, |
||||||||
Series B, 5.00%, 12/01/32 (Call 12/01/28) |
160 | 198,952 | ||||||
Denver City & County School District No. 1 GO, 5.00%, 12/01/28 (Call 12/01/26) (SAW) |
90 | 108,831 | ||||||
University of Colorado RB |
||||||||
Series A-2, 5.00%, 06/01/30 (Call 06/01/28) |
100 | 124,635 | ||||||
Series A-2, 5.00%, 06/01/31 (Call 06/01/28) |
95 | 117,919 | ||||||
|
|
|||||||
749,529 | ||||||||
Connecticut — 1.9% | ||||||||
State of Connecticut Clean Water Fund - State Revolving Fund RB, Series A, 5.00%, 05/01/28 (Call 05/01/27) |
100 | 122,283 | ||||||
State of Connecticut GO |
||||||||
Series 2021 A, 4.00%, 01/15/28 |
100 | 118,396 | ||||||
Series B, 5.00%, 04/15/28 |
105 | 131,417 | ||||||
Series C, 5.00%, 06/15/28 |
40 | 50,259 | ||||||
Series E, 5.00%, 09/15/28 |
75 | 94,777 | ||||||
Series E, 5.00%, 09/15/30 (Call 09/15/28) |
115 | 144,370 | ||||||
Series E, 5.00%, 09/15/31 (Call 09/15/28) |
205 | 256,456 | ||||||
State of Connecticut Special Tax Revenue RB |
||||||||
Series A, 5.00%, 01/01/28 |
125 | 155,363 | ||||||
Series A, 5.00%, 09/01/28 (Call 09/01/26) |
125 | 149,798 | ||||||
Series A, 5.00%, 01/01/29 (Call 01/01/28) |
90 | 111,403 | ||||||
Series B, 5.00%, 09/01/28 (Call 09/01/26) |
50 | 59,919 | ||||||
|
|
|||||||
1,394,441 | ||||||||
Delaware — 0.4% | ||||||||
State of Delaware GO |
||||||||
Series A, 2.13%, 03/01/28 (Call 03/01/26) |
15 | 15,717 | ||||||
Series A, 5.00%, 01/01/29 (Call 01/01/28) |
125 | 155,149 | ||||||
Series A, 5.00%, 02/01/32 (Call 02/01/28) |
100 | 123,007 | ||||||
|
|
|||||||
293,873 | ||||||||
District of Columbia — 1.9% | ||||||||
District of Columbia GO |
||||||||
Series A, 5.00%, 06/01/28 |
50 | 63,023 | ||||||
Series A, 5.00%, 10/15/28 |
65 | 82,644 | ||||||
Series D, 5.00%, 06/01/28 (Call 12/01/26) |
85 | 103,210 | ||||||
Series D, 5.00%, 06/01/28 (Call 06/01/27) |
110 | 134,810 | ||||||
District of Columbia RB 5.00%, 12/01/28 |
150 | 189,856 | ||||||
Series C, 5.00%, 10/01/28 |
335 | 425,561 | ||||||
District of Columbia Water & Sewer Authority RB |
||||||||
Series B, 5.00%, 10/01/28 |
140 | 178,168 |
Security | Par (000) |
Value | ||||||
District of Columbia (continued) | ||||||||
Series B, 5.00%, 10/01/28 (Call 04/01/27) |
$ | 25 | $ | 30,433 | ||||
Series B, 5.00%, 10/01/30 (Call 04/01/28) |
65 | 80,839 | ||||||
Series B, 5.00%, 10/01/32 (Call 04/01/28) |
60 | 74,394 | ||||||
|
|
|||||||
1,362,938 | ||||||||
Florida — 4.8% | ||||||||
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/28 (Call 10/01/26) |
60 | 71,446 | ||||||
County of Miami-Dade FL GO, Series D, 5.00%, 07/01/28 (Call 07/01/26) |
100 | 119,279 | ||||||
County
of Miami-Dade FL Water & Sewer System Revenue RB |
95 | 119,528 | ||||||
Series B, 5.00%, 10/01/28 (Call 10/01/27) |
235 | 289,747 | ||||||
Florida Department of Environmental Protection RB, Series A, 5.00%, 07/01/28 |
215 | 269,797 | ||||||
Florida Department of Management Services COP, Series A, 5.00%, 11/01/28 |
140 | 176,995 | ||||||
Hillsborough County School Board COP, Series A, 5.00%, 07/01/28 (Call 07/01/26) |
310 | 368,513 | ||||||
Orange County School Board COP, Series C, 5.00%, 08/01/28 |
100 | 125,354 | ||||||
Palm Beach County School District COP, Series B, 5.00%, 08/01/28 |
195 | 244,729 | ||||||
School District of Broward County/FL GO, 5.00%, 07/01/30 (Call 07/01/28) |
60 | 75,189 | ||||||
State
of Florida Department of Transportation RB |
100 | 124,749 | ||||||
5.00%, 07/01/32 (Call 07/01/28) |
300 | 373,340 | ||||||
State of Florida Department of Transportation Turnpike System Revenue RB, Series A, 5.00%, 07/01/28 |
75 | 94,446 | ||||||
State of Florida GO |
||||||||
Series A, 4.00%, 07/01/32 (Call 07/01/28) |
350 | 414,672 | ||||||
Series B, 5.00%, 06/01/28 (Call 06/01/27) |
125 | 154,191 | ||||||
Series C, 5.00%, 06/01/30 (Call 06/01/28) |
210 | 264,010 | ||||||
State of Florida Lottery Revenue RB, Series A, 5.00%, 07/01/28 |
95 | 119,911 | ||||||
|
|
|||||||
3,405,896 | ||||||||
Georgia — 1.5% | ||||||||
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
Series A, 5.00%, 11/01/28 (Call 11/01/27) |
60 | 74,054 | ||||||
Series C, 5.00%, 11/01/28 (Call 11/01/27) |
100 | 123,422 | ||||||
Forsyth County School District GO, 5.00%, 02/01/30 (Call 02/01/28) |
250 | 309,293 | ||||||
State of Georgia GO |
||||||||
Series A, 5.00%, 07/01/31 (Call 07/01/28) |
205 | 256,632 | ||||||
Series E, 5.00%, 12/01/28 (Call 12/01/26) |
260 | 315,555 | ||||||
|
|
|||||||
1,078,956 | ||||||||
Hawaii — 1.8% | ||||||||
City & County Honolulu HI Wastewater System Revenue RB, Series A, 4.00%, 07/01/28 |
100 | 119,419 | ||||||
City & County of Honolulu HI GO |
||||||||
Series A, 5.00%, 09/01/28 |
45 | 56,919 | ||||||
Series A, 5.00%, 09/01/30 (Call 09/01/28) |
165 | 206,959 | ||||||
Series C, 4.00%, 08/01/28 |
250 | 299,324 | ||||||
Series D, 5.00%, 09/01/28 (Call 09/01/27) |
30 | 36,873 | ||||||
County of Maui HI GO, 5.00%, 09/01/28 |
35 | 44,244 | ||||||
State of Hawaii GO |
||||||||
Series FT, 5.00%, 01/01/29 (Call 01/01/28) |
185 | 229,871 | ||||||
Series FT, 5.00%, 01/01/31 (Call 01/01/28) |
30 | 37,061 | ||||||
Series FT, 5.00%, 01/01/32 (Call 01/01/28) |
230 | 284,132 | ||||||
|
|
|||||||
1,314,802 |
SCHEDULES OF INVESTMENTS |
103 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Illinois — 2.7% | ||||||||
Chicago O’Hare International Airport RB, Series C, 5.00%, 01/01/28 (Call 01/01/26) |
$ | 75 | $ | 87,890 | ||||
Chicago
Transit Authority Capital Grant Receipts Revenue RB, |
65 | 80,757 | ||||||
Illinois Finance Authority RB 5.00%, 07/01/28 (Call 01/01/26) |
25 | 29,579 | ||||||
5.00%, 12/01/28 |
75 | 95,162 | ||||||
Series B, 5.00%, 01/01/28 |
100 | 123,346 | ||||||
Metropolitan Water Reclamation District of Greater Chicago GO, Series A, 5.00%, 12/01/28 (Call 12/01/26) |
150 | 182,136 | ||||||
State of Illinois GO 5.00%, 02/01/28 (Call 02/01/27) |
100 | 117,774 | ||||||
Series A, 5.00%, 03/01/28 |
75 | 90,355 | ||||||
Series A, 5.00%, 10/01/28 |
155 | 188,499 | ||||||
Series A, 5.00%, 05/01/29 (Call 05/01/28) |
310 | 374,370 | ||||||
Series A, 5.00%, 10/01/30 (Call 10/01/28) |
125 | 150,957 | ||||||
Series D, 5.00%, 11/01/28 (Call 11/01/27) |
200 | 238,438 | ||||||
State of Illinois Sales Tax Revenue RB, 5.00%, 06/15/28 |
150 | 184,186 | ||||||
|
|
|||||||
1,943,449 | ||||||||
Indiana — 0.9% | ||||||||
City of Indianapolis Department of Public Utilities Water System Revenue RB, Series A, 5.00%, 10/01/28 |
30 | 37,972 | ||||||
Indiana Finance Authority RB |
||||||||
Series C, 5.00%, 02/01/28 |
110 | 137,074 | ||||||
Series C, 5.00%, 06/01/28 (Call 12/01/26) |
100 | 120,743 | ||||||
Series R, 5.00%, 02/01/28 |
125 | 155,766 | ||||||
Indianapolis Local Public Improvement Bond Bank RB, Series E, 5.00%, 01/01/28 (PR 01/01/26) |
175 | 207,053 | ||||||
|
|
|||||||
658,608 | ||||||||
Iowa — 0.3% | ||||||||
Iowa Finance Authority RB, Series A, 5.00%, 08/01/31 (Call 08/01/28) |
120 | 151,082 | ||||||
State of Iowa RB, Series A, 5.00%, 06/01/28 (Call 06/01/26) |
30 | 35,652 | ||||||
|
|
|||||||
186,734 | ||||||||
Kansas — 0.3% | ||||||||
Sedgwick County Unified School District No. 266 Maize GO, Series A, 4.00%, 09/01/28 (Call 09/01/27) |
50 | 58,595 | ||||||
State
of Kansas Department of Transportation RB, Series A, |
145 | 179,053 | ||||||
|
|
|||||||
237,648 | ||||||||
Louisiana — 1.0% | ||||||||
State of Louisiana GO |
||||||||
Series B, 5.00%, 08/01/28 (Call 08/01/26) |
110 | 131,241 | ||||||
Series B, 5.00%, 10/01/28 (Call 10/01/27) |
150 | 185,236 | ||||||
State of Louisiana RB, Series A, 5.00%, 09/01/29 (Call 09/01/28) |
310 | 391,175 | ||||||
|
|
|||||||
707,652 | ||||||||
Maine — 0.7% | ||||||||
Maine Municipal Bond Bank RB |
||||||||
Series A, 5.00%, 09/01/28 (Call 09/01/26) |
80 | 95,619 | ||||||
Series A, 5.00%, 11/01/28 |
35 | 44,195 | ||||||
Series C, 5.00%, 11/01/28 (Call 11/01/27) |
75 | 92,567 | ||||||
State of Maine GO |
||||||||
Series B, 5.00%, 06/01/28 |
120 | 151,168 | ||||||
Series D, 5.00%, 06/01/28 |
100 | 125,973 | ||||||
|
|
|||||||
509,522 | ||||||||
Maryland — 4.6% | ||||||||
City of Baltimore MD GO, Series A, 5.00%, 10/15/28 |
30 | 38,028 |
Security | Par (000) |
Value | ||||||
Maryland (continued) | ||||||||
County
of Anne Arundel MD GOL |
$ | 150 | $ | 190,550 | ||||
5.00%, 10/01/28 (Call 10/01/27) |
140 | 173,433 | ||||||
County of Howard MD GO |
||||||||
Series A, 5.00%, 08/15/28 |
220 | 278,315 | ||||||
Series D, 5.00%, 02/15/28 |
75 | 93,753 | ||||||
County of Montgomery MD GO |
||||||||
Series A, 5.00%, 11/01/28 |
265 | 336,868 | ||||||
Series A, 5.00%, 11/01/29 (Call 11/01/28) |
130 | 164,643 | ||||||
County of Prince George’s MD GOL |
||||||||
Series A, 4.00%, 07/15/32 (Call 07/15/28) |
200 | 237,001 | ||||||
Series A, 5.00%, 07/15/31 (Call 07/15/28) |
150 | 187,638 | ||||||
Series B, 5.00%, 09/15/28 |
100 | 126,749 | ||||||
State
of Maryland Department of Transportation RB |
45 | 52,885 | ||||||
5.00%, 09/01/28 (Call 09/01/27) |
110 | 135,271 | ||||||
5.00%, 10/01/28 (Call 10/01/26) |
190 | 228,775 | ||||||
State of Maryland GO |
||||||||
First Series, 5.00%, 03/15/28 |
100 | 125,332 | ||||||
Second Series, 5.00%, 08/01/29 (Call 08/01/28) |
185 | 233,010 | ||||||
Second Series, 5.00%, 08/01/30 (Call 08/01/28) |
65 | 81,518 | ||||||
Series A, 5.00%, 03/15/29 (Call 03/15/28) |
125 | 156,080 | ||||||
Series A, 5.00%, 03/15/30 (Call 03/15/28) |
125 | 155,364 | ||||||
Washington
Suburban Sanitary Commission RB |
125 | 157,376 | ||||||
5.00%, 06/01/30 (Call 06/01/28) (GTD) |
125 | 155,346 | ||||||
|
|
|||||||
3,307,935 | ||||||||
Massachusetts — 2.4% | ||||||||
Commonwealth of Massachusetts GOL |
||||||||
Series B, 5.00%, 07/01/28 |
195 | 245,702 | ||||||
Series B, 5.00%, 01/01/30 (Call 01/01/28) |
265 | 328,971 | ||||||
Series B, 5.25%, 08/01/28 |
100 | 127,874 | ||||||
Series C, 5.00%, 05/01/28 |
100 | 125,508 | ||||||
Massachusetts
Bay Transportation Authority RB, Series A, |
250 | 319,213 | ||||||
Massachusetts
Department of Transportation RB, Series A, |
50 | 45,978 | ||||||
Massachusetts Health & Educational Facilities Authority RB, Series M, 5.25%, 07/01/28 |
100 | 127,685 | ||||||
Massachusetts
Water Resources Authority RB Series B, |
100 | 119,465 | ||||||
Series B, 5.25%, 08/01/28 (AGM) |
60 | 76,859 | ||||||
University of Massachusetts Building Authority RB, Series 2019-1, 5.00%, 05/01/28 |
150 | 188,047 | ||||||
|
|
|||||||
1,705,302 | ||||||||
Michigan — 1.2% | ||||||||
Great Lakes Water Authority Water Supply System Revenue RB, Series C, 5.00%, 07/01/28 (Call 07/01/26) |
35 | 41,890 | ||||||
Michigan Finance Authority RB 5.00%, 10/01/28 |
45 | 57,130 | ||||||
5.00%, 10/01/30 (Call 10/01/28) |
150 | 190,558 | ||||||
Series B, 5.00%, 10/01/28 (Call 10/01/26) |
115 | 139,243 | ||||||
Michigan State Building Authority RB, Series I, 5.00%, 04/15/28 |
250 | 313,431 | ||||||
Michigan State University RB, Series B, 5.00%, 02/15/28 |
85 | 105,901 | ||||||
|
|
|||||||
848,153 | ||||||||
Minnesota — 1.4% | ||||||||
Metropolitan Council GO, Series C, 4.00%, 03/01/28 (Call 03/01/27) |
25 | 29,103 |
104 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Minnesota (continued) | ||||||||
Minneapolis-St Paul Metropolitan Airports Commission RB, Series A, 5.00%, 01/01/28 (Call 01/01/27) |
$ | 80 | $ | 96,176 | ||||
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/28 (Call 03/01/26) |
100 | 118,416 | ||||||
State of Minnesota GO |
||||||||
Series A, 5.00%, 10/01/28 (Call 10/01/27) |
100 | 123,751 | ||||||
Series A, 5.00%, 08/01/29 (Call 08/01/28) |
190 | 239,732 | ||||||
Series A, 5.00%, 08/01/32 (Call 08/01/28) |
200 | 251,356 | ||||||
Series B, 5.00%, 10/01/28 (Call 10/01/27) |
90 | 111,376 | ||||||
|
|
|||||||
969,910 | ||||||||
Mississippi — 0.3% | ||||||||
State of Mississippi GO, Series A, 5.00%, 10/01/28 (Call 10/01/27) |
185 | 228,699 | ||||||
|
|
|||||||
Missouri — 0.5% | ||||||||
City of Kansas City MO Sanitary Sewer System Revenue RB, Series A, 5.00%, 01/01/29 (Call 01/01/28) |
105 | 130,112 | ||||||
Missouri State Board of Public Buildings RB, Series B, 4.00%, 10/01/28 |
205 | 246,124 | ||||||
|
|
|||||||
376,236 | ||||||||
Nebraska — 0.5% | ||||||||
Omaha Public Power District RB, Series A, 5.00%, 02/01/28 (Call 02/01/26) |
125 | 146,852 | ||||||
University
of Nebraska Facilities Corp. RB |
55 | 69,322 | ||||||
5.00%, 07/15/30 (Call 07/15/28) |
135 | 167,944 | ||||||
|
|
|||||||
384,118 | ||||||||
Nevada — 2.4% | ||||||||
Clark County School District GOL, Series C, 5.00%, 06/15/28 (Call 12/15/27) |
145 | 178,594 | ||||||
County of Clark Department of Aviation RB, Series B, 5.00%, 07/01/28 |
100 | 125,854 | ||||||
County of Clark NV GOL 5.00%, 12/01/30 (Call 12/01/28) |
150 | 188,091 | ||||||
5.00%, 12/01/31 (Call 12/01/28) |
165 | 206,244 | ||||||
County of Clark NV RB, Series B, 5.00%, 07/01/28 |
250 | 314,268 | ||||||
County of Washoe NV RB, 5.00%, 02/01/28 |
195 | 242,325 | ||||||
State of Nevada GOL |
||||||||
Series A, 5.00%, 04/01/28 |
40 | 49,905 | ||||||
Series A, 5.00%, 05/01/28 |
75 | 93,756 | ||||||
State
of Nevada Highway Improvement Revenue RB |
100 | 118,947 | ||||||
5.00%, 12/01/30 (Call 06/01/28) |
155 | 191,693 | ||||||
|
|
|||||||
1,709,677 | ||||||||
New Hampshire — 0.2% | ||||||||
New Hampshire Municipal Bond Bank RB, Series B, 5.00%, 08/15/28 |
55 | 69,620 | ||||||
State of New Hampshire GO, Series A, 5.00%, 12/01/31 (Call 12/01/28) |
50 | 63,116 | ||||||
|
|
|||||||
132,736 | ||||||||
New Jersey — 1.9% | ||||||||
New Jersey Economic Development Authority RB, 5.00%, 06/15/28 |
60 | 74,217 | ||||||
New
Jersey Transportation Trust Fund Authority RB |
75 | 92,940 | ||||||
Series A, 5.00%, 06/15/28 (Call 06/15/26) |
100 | 117,629 | ||||||
New Jersey Turnpike Authority RB |
||||||||
Series B, 5.00%, 01/01/32 (Call 01/01/28) |
310 | 381,088 | ||||||
Series E, 5.00%, 01/01/29 (Call 01/01/28) |
100 | 123,782 |
Security |
Par (000) |
Value | ||||||
New Jersey (continued) | ||||||||
State
of New Jersey GO |
$ | 135 | $ | 163,399 | ||||
Series A, 5.00%, 06/01/28 |
300 | 370,795 | ||||||
|
|
|||||||
1,323,850 | ||||||||
New Mexico — 0.3% | ||||||||
New
Mexico Finance Authority RB |
100 | 125,868 | ||||||
Series D, 5.00%, 06/01/29 (Call 06/01/28) |
70 | 87,582 | ||||||
|
|
|||||||
213,450 | ||||||||
New York — 11.7% | ||||||||
City of New York NY GO |
||||||||
Series A, 5.00%, 08/01/28 (Call 08/01/27) |
25 | 30,663 | ||||||
Series A, 5.00%, 08/01/29 (Call 02/01/28) |
110 | 136,196 | ||||||
Series A-2, 5.00%, 08/01/29 (Call 02/01/28) |
100 | 123,815 | ||||||
Series B-1, 5.00%, 10/01/28 |
80 | 101,076 | ||||||
Series C, 5.00%, 08/01/28 (Call 02/01/27) |
100 | 120,728 | ||||||
Series C, 5.00%, 08/01/29 (Call 02/01/28) |
195 | 241,439 | ||||||
Series D, 5.00%, 08/01/28 (Call 02/01/26) |
210 | 247,083 | ||||||
Series E, 5.00%, 08/01/28 |
85 | 106,992 | ||||||
Long
Island Power Authority RB |
165 | 208,330 | ||||||
Series A, 0.00%, 12/01/28 (AGM)(a) |
170 | 153,573 | ||||||
Metropolitan Transportation Authority RB |
||||||||
Series B, 5.00%, 11/15/28 |
435 | 534,527 | ||||||
Series C-1, 5.00%, 11/15/28 (Call 05/15/28) |
195 | 236,968 | ||||||
Series C-1, 5.00%, 11/15/29 (Call 05/15/28) |
290 | 349,561 | ||||||
New
York City Transitional Finance Authority Building Aid Revenue RB |
130 | 162,294 | ||||||
Series S-2A, 5.00%, 07/15/31 (Call 07/15/28) (SAW) |
170 | 211,414 | ||||||
Series S-2A, 5.00%, 07/15/32 (Call 07/15/28) (SAW) |
100 | 124,063 | ||||||
Series S-4A, 5.00%, 07/15/28 (SAW) |
35 | 43,997 | ||||||
Series S-4A, 5.00%, 07/15/31 (Call 07/15/28) (SAW) |
120 | 149,234 | ||||||
New
York City Transitional Finance Authority Future Tax Secured Revenue
RB |
195 | 247,431 | ||||||
Series A1, 5.00%, 08/01/32 (Call 08/01/28) |
50 | 62,359 | ||||||
Series B-1, 5.00%, 08/01/28 (Call 08/01/27) |
100 | 123,407 | ||||||
Series C-1, 5.00%, 11/01/28 |
25 | 31,722 | ||||||
New
York City Water & Sewer System RB |
65 | 81,862 | ||||||
5.00%, 06/15/28 (Call 06/15/27) |
100 | 122,617 | ||||||
Series CC-1, 5.00%, 06/15/28 |
75 | 94,456 | ||||||
New York State Dormitory Authority RB |
||||||||
Series A, 5.00%, 02/15/28 (Call 02/15/27) |
175 | 212,869 | ||||||
Series A, 5.00%, 03/15/28 |
50 | 62,332 | ||||||
Series A, 5.00%, 03/15/28 (Call 09/15/26) |
30 | 36,085 | ||||||
Series A, 5.00%, 03/15/29 (Call 03/15/28) |
125 | 155,555 | ||||||
Series A, 5.00%, 07/01/29 (Call 07/01/28) |
170 | 213,343 | ||||||
Series A, 5.00%, 03/15/31 (Call 03/15/28) |
160 | 197,420 | ||||||
Series A, 5.00%, 03/15/32 (Call 03/15/28) |
140 | 172,678 | ||||||
Series A, 5.00%, 03/15/32 (Call 09/15/28) |
125 | 156,469 | ||||||
Series B, 5.00%, 02/15/28 (Call 08/15/27) |
300 | 370,917 | ||||||
Series C, 5.00%, 03/15/29 (Call 03/15/28) |
175 | 217,778 | ||||||
Series C, 5.00%, 03/15/31 (Call 03/15/28) |
40 | 49,355 | ||||||
Series C, 5.00%, 03/15/32 (Call 03/15/28) |
60 | 74,005 | ||||||
Series E, 5.00%, 03/15/30 (Call 09/15/28) |
155 | 194,568 |
SCHEDULES OF INVESTMENTS |
105 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
New York (continued) |
||||||||
New York State Environmental Facilities Corp. RB |
||||||||
5.00%, 06/15/28 (Call 06/15/27) |
$ | 115 | $ | 141,720 | ||||
Series B, 5.00%, 06/15/32 (Call 06/15/28) |
75 | 94,040 | ||||||
New York State Thruway Authority RB |
||||||||
Series L, 5.00%, 01/01/30 (Call 01/01/28) |
230 | 283,353 | ||||||
Series L, 5.00%, 01/01/31 (Call 01/01/28) |
110 | 134,859 | ||||||
New York State Urban Development Corp. RB |
||||||||
Series A, 5.00%, 03/15/28 (Call 03/15/26) |
235 | 277,377 | ||||||
Series C-2, 5.00%, 03/15/28 (Call 09/15/27) |
100 | 123,654 | ||||||
Port Authority of New York & New Jersey RB |
||||||||
Series 205TH, 5.00%, 11/15/28 (Call 11/15/27) |
120 | 148,879 | ||||||
Series 209TH, 5.00%, 07/15/30 (Call 07/15/28) |
100 | 125,061 | ||||||
Series 211TH, 5.00%, 09/01/32 (Call 09/01/28) |
165 | 205,742 | ||||||
Triborough Bridge & Tunnel Authority RB |
||||||||
Series B, 0.00%, 11/15/28(a) |
155 | 138,314 | ||||||
Series B, 5.00%, 11/15/28 |
240 | 304,595 | ||||||
Series C-1, 5.00%, 11/15/28 |
45 | 57,111 | ||||||
Utility Debt Securitization Authority RB, Series A, 5.00%, 06/15/28 (Call 06/15/26) |
150 | 178,842 | ||||||
|
|
|||||||
8,372,728 | ||||||||
North Carolina — 1.8% |
||||||||
City of Charlotte NC GO, Series A, 5.00%, 06/01/28 |
115 | 145,289 | ||||||
County of Guilford NC GO, Series B, 5.00%, 05/01/28 (Call 05/01/27) |
100 | 122,464 | ||||||
County of Wake NC GO |
||||||||
Series A, 5.00%, 04/01/28 |
15 | 18,874 | ||||||
Series A, 5.00%, 03/01/31 (Call 03/01/28) |
100 | 123,953 | ||||||
County of Wake NC RB, Series A, 5.00%, 12/01/28 (Call 12/01/26) |
65 | 78,168 | ||||||
North Carolina State University at Raleigh RB, 5.00%, 10/01/28 |
65 | 82,373 | ||||||
State of North Carolina GO |
||||||||
Series A, 5.00%, 06/01/28 |
120 | 151,431 | ||||||
Series A, 5.00%, 06/01/29 (Call 06/01/28) |
150 | 188,000 | ||||||
State of North Carolina RB |
||||||||
5.00%, 03/01/28 |
175 | 218,270 | ||||||
Series B, 5.00%, 05/01/28 (Call 05/01/27) |
150 | 183,064 | ||||||
|
|
|||||||
1,311,886 | ||||||||
Ohio — 3.1% |
||||||||
American Municipal Power Inc., Series A, 5.00%, 02/15/28( 02/15/26) |
100 | 117,005 | ||||||
City of Columbus OH GO, Series A, 5.00%, 04/01/31 (Call 10/01/28) |
410 | 517,414 | ||||||
County of Franklin OH Sales Tax Revenue RB, 4.00%, 06/01/31 (Call 06/01/28) |
110 | 128,908 | ||||||
Ohio Turnpike & Infrastructure Commission RB, Series A, 5.00%, 02/15/28 (Call 02/15/27) |
135 | 163,590 | ||||||
Ohio Water Development Authority RB |
||||||||
5.00%, 06/01/28 (Call 03/01/28) |
170 | 213,120 | ||||||
5.00%, 12/01/28 (Call 12/01/26) |
60 | 72,821 | ||||||
Series A, 5.00%, 06/01/28 |
120 | 150,907 | ||||||
State of Ohio GO |
||||||||
Series B, 5.00%, 09/01/28 |
130 | 164,237 | ||||||
Series B, 5.00%, 09/15/28 |
40 | 50,578 | ||||||
Series S, 5.00%, 05/01/28 (Call 05/01/26) |
260 | 309,034 | ||||||
Series V, 5.00%, 05/01/32 (Call 05/01/28) |
50 | 61,986 | ||||||
State of Ohio RB |
||||||||
Series A, 5.00%, 04/01/28 |
115 | 143,478 | ||||||
Series C, 5.00%, 12/01/28 (Call 12/01/26) |
135 | 162,276 | ||||||
|
|
|||||||
2,255,354 |
Security | Par (000) |
Value | ||||||
Oklahoma — 0.1% |
||||||||
Oklahoma Capitol Improvement Authority RB, 5.00%, 07/01/28 |
$ | 25 | $ | 31,408 | ||||
Oklahoma Department of Transportation RB, Series A, 5.00%, 09/01/28 |
50 | 62,308 | ||||||
|
|
|||||||
93,716 | ||||||||
Oregon — 1.2% |
||||||||
City of Portland OR GOL, Series B, 5.00%, 06/15/29 (Call 06/15/28) |
145 | 182,630 | ||||||
City of Portland OR Sewer System Revenue RB, Series A, 5.00%, 05/01/28 (Call 05/01/26) |
100 | 118,859 | ||||||
Oregon Health & Science University RB, Series A, 5.00%, 07/01/28 |
135 | 169,210 | ||||||
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/28 (GTD)(a) |
90 | 82,943 | ||||||
State of Oregon GO |
||||||||
Series A, 5.00%, 05/01/28 |
40 | 50,232 | ||||||
Series D, 5.00%, 06/01/28 |
155 | 195,034 | ||||||
Series Q, 5.00%, 05/01/28 (Call 05/01/26) |
60 | 71,257 | ||||||
|
|
|||||||
870,165 | ||||||||
Pennsylvania — 2.1% |
||||||||
City of Philadelphia PA Water & Wastewater Revenue RB, |
||||||||
Series B, 5.00%, 11/01/28 (Call 11/01/27) |
100 | 124,279 | ||||||
Commonwealth of Pennsylvania GO |
||||||||
First Series, 5.00%, 01/01/28 (Call 01/01/27) |
285 | 344,064 | ||||||
Second Series, 5.00%, 09/15/28 (Call 09/15/26) |
250 | 299,913 | ||||||
Series 1, 5.00%, 02/01/28 (Call 02/01/26) |
140 | 164,915 | ||||||
County of Chester PA GO, Series A, 4.00%, 07/15/28 (Call 07/15/26) |
75 | 86,104 | ||||||
Pennsylvania Turnpike Commission RB |
||||||||
Second Series, 5.00%, 12/01/28 (Call 12/01/27) |
60 | 73,923 | ||||||
Series A, 5.25%, 07/15/28 (AGM) |
320 | 407,314 | ||||||
Pittsburgh Water & Sewer Authority RB, Series A, 5.00%, 09/01/28 (Call 09/01/27) (AGM) |
30 | 36,682 | ||||||
|
|
|||||||
1,537,194 | ||||||||
Rhode Island — 0.2% |
||||||||
State of Rhode Island GO, Series B, 5.00%, 08/01/28 (Call 08/01/27) |
125 | 153,707 | ||||||
|
|
|||||||
South Carolina — 0.8% |
||||||||
County of Beaufort SC GO, Series A, 5.00%, 02/01/28 (Call 02/01/27) (SAW) |
120 | 145,470 | ||||||
County of Charleston SC GO, Series B, 5.00%, 11/01/28 |
100 | 127,430 | ||||||
South Carolina Transportation Infrastructure Bank RB, Series A, 5.00%, 10/01/29 (Call 10/01/28) |
130 | 163,454 | ||||||
State of South Carolina GO, Series A, 5.00%, 04/01/28 (Call 10/01/27) (SAW) |
110 | 136,391 | ||||||
|
|
|||||||
572,745 | ||||||||
Tennessee — 2.2% |
||||||||
City of Clarksville TN Water Sewer & Gas Revenue RB, 5.00%, 02/01/28 (Call 02/01/26) |
100 | 117,803 | ||||||
City of Memphis TN Sanitary Sewerage System Revenue RB, Series B, 5.00%, 10/01/28 |
190 | 240,491 | ||||||
County of Hamilton TN GO, Series A, 5.00%, 04/01/28 |
50 | 62,841 | ||||||
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/28 (Call 05/15/27) |
90 | 109,787 | ||||||
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
4.00%, 01/01/28 (Call 07/01/26) |
85 | 97,111 | ||||||
4.00%, 07/01/28 |
60 | 71,694 | ||||||
5.00%, 01/01/28 (Call 07/01/26) |
170 | 202,490 |
106 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Tennessee (continued) |
||||||||
5.00%, 07/01/32 (Call 07/01/28) |
$ | 40 | $ | 49,837 | ||||
State of Tennessee GO |
||||||||
Series A, 5.00%, 02/01/29 (Call 02/01/28) |
105 | 130,801 | ||||||
Series A, 5.00%, 02/01/32 (Call 02/01/28) |
75 | 92,357 | ||||||
Tennessee State School Bond Authority RB |
||||||||
Series A, 5.00%, 11/01/28 (Call 11/01/27) |
85 | 104,965 | ||||||
Series B, 5.00%, 11/01/28 (Call 11/01/27) (ST INTERCEPT) |
220 | 271,674 | ||||||
|
|
|||||||
1,551,851 | ||||||||
Texas — 12.4% |
||||||||
Aldine Independent School District GO, 5.00%, 02/15/28 (Call 02/15/27) (PSF) |
90 | 109,008 | ||||||
Alvin Independent School District/TX GO, Series A, 5.00%, 02/15/28 (Call 02/15/26) (PSF) |
95 | 112,209 | ||||||
Austin Independent School District GO 5.00%, 08/01/28 (Call 08/01/26) (PSF) |
100 | 120,493 | ||||||
5.00%, 08/01/31 (Call 08/01/28) (PSF) |
200 | 251,804 | ||||||
Board of Regents of the University of Texas System RB, Series H, 5.00%, 08/15/28 (Call 08/15/26) |
75 | 89,689 | ||||||
City of Austin TX GOL, 5.00%, 09/01/28 |
235 | 297,599 | ||||||
City of Austin TX Water & Wastewater System Revenue RB, 5.00%, 11/15/28 (Call 11/15/26) |
175 | 211,270 | ||||||
City of Dallas TX Waterworks & Sewer System Revenue RB 5.00%, 10/01/28 (Call 10/01/27) |
150 | 186,115 | ||||||
Series C, 5.00%, 10/01/29 (Call 10/01/28) |
50 | 62,867 | ||||||
City of Houston TX Combined Utility System Revenue RB |
||||||||
Series A, 0.00%, 12/01/28 (AGM)(a) |
170 | 154,331 | ||||||
Series B, 5.00%, 11/15/28 (Call 11/15/27) |
105 | 129,505 | ||||||
Series D, 5.00%, 11/15/30 (Call 11/15/28) |
145 | 181,847 | ||||||
City of Houston TX GOL, Series A, 5.00%, 03/01/28 |
150 | 186,671 | ||||||
City of Lewisville TX GOL, 5.00%, 02/15/30 (Call 02/15/28) |
75 | 93,337 | ||||||
City of San Antonio TX Electric & Gas Systems Revenue RB 4.00%, 02/01/28 (Call 08/01/26) |
50 | 57,329 | ||||||
5.00%, 02/01/28 |
60 | 74,809 | ||||||
5.00%, 02/01/28 (Call 08/01/26) |
100 | 119,715 | ||||||
City of San Antonio TX GOL 5.00%, 08/01/28 |
75 | 94,460 | ||||||
5.00%, 08/01/28 (Call 08/01/27) |
85 | 105,058 | ||||||
Fort Bend Independent School District GO |
||||||||
Series B, 4.00%, 02/15/32 (Call 02/15/28) (PSF) |
60 | 70,136 | ||||||
Series C, 5.00%, 08/15/28 (PSF) |
50 | 63,103 | ||||||
Frisco Independent School District GO, 5.00%, 08/15/28 (PSF) |
300 | 378,396 | ||||||
Georgetown Independent School District GO, Series A, 5.00%, 08/15/29 (Call 08/15/28) (PSF) |
105 | 132,363 | ||||||
Grand Parkway Transportation Corp. RB, Series A, 5.00%, 10/01/30 (Call 04/01/28) |
130 | 161,587 | ||||||
Grand Prairie Independent School District GO, Series A, 5.00%, 02/15/28 (Call 08/15/26) (PSF) |
80 | 95,751 | ||||||
Harris County Toll Road Authority (The) RB, Series A, 5.00%, 08/15/32 (Call 02/15/28) |
105 | 129,449 | ||||||
Houston Independent School District GOL, 5.00%, 07/15/29 |
||||||||
(Call 07/15/28) |
120 | 150,459 | ||||||
Katy Independent School District GO, 5.00%, 02/15/31 |
||||||||
(Call 02/15/28) (PSF) |
125 | 154,413 | ||||||
Killeen Independent School District GO, 5.00%, 02/15/30 |
||||||||
(Call 02/15/28) (PSF) |
280 | 347,494 | ||||||
Klein Independent School District GO, 5.00%, 08/01/28 |
||||||||
(Call 08/01/26) (PSF) |
95 | 114,419 | ||||||
Laredo Independent School District GO, 5.00%, 08/01/28 |
||||||||
(Call 08/01/27) (PSF) |
110 | 134,985 |
Security | Par (000) |
Value | ||||||
Texas (continued) |
||||||||
Leander Independent School District GO, Series A, 5.00%, 08/15/31 (Call 02/15/28) (PSF) |
$ | 190 | $ | 234,365 | ||||
Lewisville Independent School District GO, 5.00%, 08/15/32 |
||||||||
(Call 08/15/28) (PSF) |
250 | 312,296 | ||||||
Lone Star College System GOL, 5.00%, 02/15/28 (Call 02/15/26) . |
15 | 17,641 | ||||||
North East Independent School District/TX GO, 5.00%, 08/01/30 |
||||||||
(Call 08/01/28) (PSF) |
50 | 62,743 | ||||||
North Texas Municipal Water District RB, 5.00%, 06/01/28 |
||||||||
(Call 06/01/26) |
95 | 113,142 | ||||||
North Texas Tollway Authority RB |
||||||||
First Series, 0.00%, 01/01/28(a) |
220 | 201,561 | ||||||
Series B, 5.00%, 01/01/28 |
170 | 210,374 | ||||||
Northside Independent School District GO, 5.00%, 08/15/28 |
||||||||
(Call 08/15/27) (PSF) |
150 | 184,726 | ||||||
Northside Independent School District RB, 5.00%, 08/15/31( 08/15/28) (PSF) |
150 | 187,706 | ||||||
Pflugerville Independent School District GO, Series A, 5.00%, 02/15/30 (Call 02/15/28) (PSF) |
55 | 68,258 | ||||||
Richardson Independent School District GO, 5.00%, 02/15/30 |
||||||||
(Call 02/15/28) (PSF) |
200 | 248,210 | ||||||
Round Rock Independent School District GO 5.00%, 08/01/31 (Call 08/01/28) (PSF) |
105 | 131,497 | ||||||
Series A, 5.00%, 08/01/28 (PSF) |
145 | 182,839 | ||||||
San Antonio Independent School District/TX GO 5.00%, 08/15/29 (Call 08/15/28) (PSF) |
100 | 126,060 | ||||||
5.00%, 08/15/32 (Call 08/15/28) (PSF) |
200 | 249,985 | ||||||
San Antonio Water System RB, 5.00%, 05/15/28 |
195 | 244,683 | ||||||
Spring Independent School District GO, 5.00%, 08/15/32 |
||||||||
(Call 08/15/28) (PSF) |
145 | 181,024 | ||||||
State of Texas GO, Series A, 5.00%, 08/01/29 (Call 08/01/28) |
150 | 188,705 | ||||||
Temple Independent School District/TX GO, 4.00%, 02/01/28 |
||||||||
(Call 02/01/27) (PSF) |
110 | 127,042 | ||||||
Texas A&M University RB, Series E, 5.00%, 05/15/28 |
||||||||
(Call 05/15/27) |
100 | 122,046 | ||||||
Texas Water Development Board RB |
||||||||
Series A, 5.00%, 10/15/28 (Call 04/15/28) |
100 | 125,039 | ||||||
Series A, 5.00%, 10/15/31 (Call 04/15/28) |
100 | 124,167 | ||||||
Series B, 5.00%, 04/15/28 |
100 | 125,444 | ||||||
Series B, 5.00%, 10/15/29 (Call 10/15/28) |
35 | 44,418 | ||||||
Series B, 5.00%, 04/15/31 (Call 10/15/28) |
85 | 107,441 | ||||||
Series B, 5.00%, 10/15/31 (Call 10/15/28) |
200 | 251,938 | ||||||
Trinity River Authority Central Regional Wastewater System |
||||||||
Revenue RB, 5.00%, 08/01/32 (Call 08/01/28) |
100 | 123,549 | ||||||
|
|
|||||||
8,867,570 | ||||||||
Utah — 1.3% |
||||||||
Alpine School District/UT GO, Series B, 5.00%, 03/15/28 |
||||||||
(Call 03/15/27) (GTD) |
75 | 91,528 | ||||||
City of Provo UT GO, 5.00%, 02/01/30 (Call 08/01/28) |
100 | 125,179 | ||||||
Salt Lake City Corp. RB, 5.00%, 02/01/28 (Call 02/01/27) |
125 | 151,962 | ||||||
State of Utah GO, 5.00%, 07/01/28 |
170 | 214,954 | ||||||
University of Utah (The), Series A, 5.00%, 08/01/28 |
||||||||
(Call 08/01/27) (SAP) |
150 | 184,259 | ||||||
University of Utah (The) RB, Series B-1, 5.00%, 08/01/28 |
||||||||
(Call 08/01/27) (SAP) |
125 | 153,549 | ||||||
Utah Water Finance Agency RB, Series A, 5.00%, 03/01/28 |
||||||||
(Call 03/01/27) |
35 | 42,504 | ||||||
|
|
|||||||
963,935 |
SCHEDULES OF INVESTMENTS |
107 |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value |
||||||
Virginia — 3.7% | ||||||||
Commonwealth
of Virginia GO, Series A, 5.00%, 06/01/30 |
$ | 220 | $ | 276,582 | ||||
County of Arlington VA GO, 5.00%, 08/15/29 (Call 08/15/28) |
125 | 158,701 | ||||||
County
of Chesterfield VA GO, Series A, 5.00%, 01/01/29 |
55 | 68,489 | ||||||
County of Fairfax VA GO |
||||||||
Series A, 5.00%, 10/01/28 (Call 04/01/27) (SAW) |
50 | 61,162 | ||||||
Series A, 5.00%, 10/01/28 (Call 04/01/28) (SAW) |
150 | 188,236 | ||||||
Series A, 5.00%, 10/01/30 (Call 04/01/28) (SAW) |
100 | 125,071 | ||||||
Hampton Roads Transportation Accountability Commission RB, Series A, 5.00%, 07/01/28 |
155 | 194,846 | ||||||
Virginia
College Building Authority RB |
110 | 133,537 | ||||||
Series A, 5.00%, 09/01/28 (Call 09/01/26) (ST INTERCEPT) |
75 | 89,839 | ||||||
Series A, 5.00%, 09/01/28 (PR 09/01/26) (ST INTERCEPT) |
5 | 6,010 | ||||||
Series B, 5.00%, 02/01/28 |
110 | 137,377 | ||||||
Series E, 5.00%, 02/01/29 (Call 02/01/28) |
160 | 198,438 | ||||||
Series E, 5.00%, 02/01/30 (Call 02/01/28) |
130 | 160,744 | ||||||
Virginia Commonwealth Transportation Board RB, 5.00%, 03/15/32 (Call 09/15/28) |
85 | 106,654 | ||||||
Virginia Public Building Authority RB, Series A, 5.00%, 08/01/28 |
200 | 252,489 | ||||||
Virginia
Public School Authority RB |
20 | 24,987 | ||||||
Series B, 5.00%, 08/01/28 (Call 08/01/27) (SAW) |
165 | 203,101 | ||||||
Virginia Resources Authority RB |
||||||||
Series A, 5.00%, 11/01/28 |
80 | 101,634 | ||||||
Series A, 5.00%, 11/01/30 (Call 11/01/28) |
115 | 146,299 | ||||||
|
|
|||||||
2,634,196 | ||||||||
Washington — 4.9% | ||||||||
Auburn
School District No. 408 of King & Pierce Counties
GO, |
40 | 49,950 | ||||||
Central
Puget Sound Regional Transit Authority RB, Series S-1, |
100 | 120,605 | ||||||
City
of Everett WA Water & Sewer Revenue RB, 5.00%, 12/01/28 |
50 | 60,517 | ||||||
City
of Seattle WA Drainage & Wastewater Revenue RB, |
150 | 175,328 | ||||||
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
Series A, 5.00%, 04/01/28 |
125 | 156,395 | ||||||
Series B, 5.00%, 04/01/28 (Call 04/01/26) |
70 | 82,897 | ||||||
Series C, 4.00%, 10/01/28 (Call 10/01/26) |
65 | 74,848 | ||||||
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/28 (Call 01/01/27) |
30 | 36,234 | ||||||
Clark County School District No. 37 Vancouver GO, 5.00%, 12/01/28 (GTD) |
130 | 165,150 | ||||||
County of King WA Sewer Revenue RB |
||||||||
Series B, 5.00%, 07/01/28 |
100 | 126,075 | ||||||
Series B, 5.00%, 07/01/29 (Call 07/01/28) |
110 | 137,483 | ||||||
County of Spokane WA GOL, Series B, 5.00%, 12/01/28 |
130 | 165,252 | ||||||
Energy Northwest RB 5.00%, 07/01/28 |
380 | 478,245 | ||||||
Series A, 5.00%, 07/01/28 (Call 07/01/27) |
125 | 153,375 | ||||||
Series C, 5.00%, 07/01/30 (Call 07/01/28) |
125 | 156,187 | ||||||
King & Snohomish Counties School District No. 417 Northshore GO, 5.00%, 12/01/29 (Call 06/01/28) (GTD) |
125 | 155,870 |
Security | Par/ Shares (000) |
Value | ||||||
Washington (continued) | ||||||||
King
County School District No. 405 Bellevue GO, |
$ | 10 | $ | 12,081 | ||||
King
County School District No. 414 Lake Washington GO, |
50 | 56,890 | ||||||
State
of Washington COP, Series B, 5.00%, 07/01/30 |
180 | 223,602 | ||||||
State of Washington GO |
||||||||
Series 2017-A, 5.00%, 08/01/28 (Call 08/01/26) |
120 | 143,968 | ||||||
Series B, 5.00%, 08/01/28 (Call 08/01/26) |
90 | 107,976 | ||||||
Series C, 0.00%, 06/01/28 (NPFGC)(a) |
75 | 68,948 | ||||||
Series C, 5.00%, 02/01/30 (Call 02/01/28) |
125 | 155,073 | ||||||
Series D, 5.00%, 02/01/31 (Call 02/01/28) |
80 | 98,779 | ||||||
Series R, 5.00%, 08/01/28 (Call 08/01/26) |
130 | 155,966 | ||||||
University of Washington RB, Series C, 5.00%, 04/01/28 |
135 | 169,002 | ||||||
Washington State University RB, 5.00%, 10/01/28 (Call 04/01/26). |
50 | 58,589 | ||||||
|
|
|||||||
3,545,285 | ||||||||
West Virginia — 1.1% | ||||||||
State of West Virginia GO |
||||||||
Series A, 5.00%, 06/01/28 |
60 | 75,672 | ||||||
Series B, 5.00%, 06/01/31 (Call 06/01/28) |
235 | 293,212 | ||||||
Series B, 5.00%, 12/01/32 (Call 06/01/28) |
75 | 93,307 | ||||||
West
Virginia Commissioner of Highways RB, Series A, |
160 | 196,553 | ||||||
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/30 (Call 07/01/28) |
75 | 93,767 | ||||||
|
|
|||||||
752,511 | ||||||||
Wisconsin — 0.5% | ||||||||
State
of Wisconsin GO |
50 | 61,000 | ||||||
Series 2, 5.00%, 11/01/28 (Call 05/01/26) |
125 | 148,635 | ||||||
Series 3, 5.00%, 11/01/28 (Call 05/01/27) |
125 | 152,501 | ||||||
|
|
|||||||
362,136 | ||||||||
|
|
|||||||
Total
Municipal Debt Obligations — 98.3% |
70,513,390 | |||||||
|
|
|||||||
Short-Term Investments |
| |||||||
Money Market Funds — 0.6% | ||||||||
BlackRock Liquidity Funds: MuniCash, 0.01%(b)(c) |
450 | 450,507 | ||||||
|
|
|||||||
Total
Short-Term Investments — 0.6% |
450,507 | |||||||
|
|
|||||||
Total
Investments in Securities — 98.9% |
70,963,897 | |||||||
Other Assets, Less Liabilities — 1.1% |
|
769,355 | ||||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 71,733,252 | |||||
|
|
(a) |
Zero-coupon bond. |
(b) |
Affiliate of the Fund. |
(c) |
Annualized 7-day yield as of period end. |
108 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (continued) October 31, 2021 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 (000) |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash |
$ | 282,394 | $ | 168,135 | (a) | $ | — | $ | (47 | ) | $ | 25 | $ | 450,507 | 450 | $ | 22 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
||||||||||||||||
Municipal Debt Obligations |
$ | — | $ | 70,513,390 | $ | — | $ | 70,513,390 | ||||||||
Money Market Funds |
450,507 | — | — | 450,507 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 450,507 | $ | 70,513,390 | $ | — | $ | 70,963,897 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULES OF INVESTMENTS |
109 |
Statements of Assets and Liabilities
October 31, 2021
iShares iBonds Dec 2021 Term Muni Bond ETF |
iShares iBonds Dec 2022 Term Muni Bond ETF |
iShares iBonds Dec 2023 Term Muni Bond ETF |
iShares iBonds Dec 2024 Term Muni Bond ETF |
|||||||||||||
ASSETS |
||||||||||||||||
Investments in securities, at value: |
||||||||||||||||
Unaffiliated(a) |
$ | 271,741,150 | $ | 373,700,235 | $ | 331,878,726 | $ | 239,925,945 | ||||||||
Affiliated(b) |
2,844,894 | 346,035 | 423,667 | 935,081 | ||||||||||||
Receivables: |
||||||||||||||||
Investments sold |
51 | — | — | — | ||||||||||||
Dividends |
23 | 3 | 4 | 3 | ||||||||||||
Interest |
1,858,538 | 5,118,420 | 4,441,745 | 3,008,476 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
276,444,656 | 379,164,693 | 336,744,142 | 243,869,505 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
LIABILITIES |
||||||||||||||||
Payables: |
||||||||||||||||
Investments purchased |
— | — | 218,328 | 599,320 | ||||||||||||
Investment advisory fees |
42,722 | 57,962 | 51,090 | 36,858 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
42,722 | 57,962 | 269,418 | 636,178 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 276,401,934 | $ | 379,106,731 | $ | 336,474,724 | $ | 243,233,327 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS CONSIST OF: |
||||||||||||||||
Paid-in capital |
$ | 276,530,945 | $ | 375,415,233 | $ | 330,838,926 | $ | 239,143,487 | ||||||||
Accumulated earnings (loss) |
(129,011 | ) | 3,691,498 | 5,635,798 | 4,089,840 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 276,401,934 | $ | 379,106,731 | $ | 336,474,724 | $ | 243,233,327 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares outstanding |
10,800,000 | 14,500,000 | 12,950,000 | 9,050,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net asset value |
$ | 25.59 | $ | 26.15 | $ | 25.98 | $ | 26.88 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares authorized |
Unlimited | Unlimited | Unlimited | Unlimited | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Par value |
None | None | None | None | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
(a) Investments, at cost — Unaffiliated |
$ | 271,718,908 | $ | 370,498,792 | $ | 326,556,278 | $ | 236,010,938 | ||||||||
(b) Investments, at cost — Affiliated |
$ | 2,844,877 | $ | 346,017 | $ | 423,667 | $ | 935,072 |
See notes to financial statements.
110 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Statements of Assets and Liabilities (continued)
October 31, 2021
iShares iBonds Dec 2025 Term Muni Bond ETF |
iShares iBonds Dec 2026 Term Muni Bond ETF |
iShares iBonds Dec 2027 Term Muni Bond ETF |
iShares iBonds Dec 2028 Term Muni Bond ETF |
|||||||||||||
ASSETS |
||||||||||||||||
Investments in securities, at value: |
||||||||||||||||
Unaffiliated(a) |
$ | 180,167,754 | $ | 121,771,566 | $ | 61,031,959 | $ | 70,513,390 | ||||||||
Affiliated(b) |
160,825 | 604,744 | 281,268 | 450,507 | ||||||||||||
Receivables: |
||||||||||||||||
Dividends |
2 | 2 | 2 | 2 | ||||||||||||
Interest |
2,189,212 | 1,435,698 | 745,067 | 780,338 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
182,517,793 | 123,812,010 | 62,058,296 | 71,744,237 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
LIABILITIES |
||||||||||||||||
Payables: |
||||||||||||||||
Investments purchased |
— | 591,617 | 246,626 | — | ||||||||||||
Investment advisory fees |
27,447 | 18,727 | 9,422 | 10,985 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
27,447 | 610,344 | 256,048 | 10,985 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 182,490,346 | $ | 123,201,666 | $ | 61,802,248 | $ | 71,733,252 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS CONSIST OF: |
||||||||||||||||
Paid-in capital |
$ | 180,371,826 | $ | 122,593,009 | $ | 61,298,539 | $ | 70,738,595 | ||||||||
Accumulated earnings |
2,118,520 | 608,657 | 503,709 | 994,657 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 182,490,346 | $ | 123,201,666 | $ | 61,802,248 | $ | 71,733,252 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares outstanding |
6,550,000 | 4,600,000 | 2,300,000 | 2,650,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net asset value |
$ | 27.86 | $ | 26.78 | $ | 26.87 | $ | 27.07 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Shares authorized |
Unlimited | Unlimited | Unlimited | Unlimited | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Par value |
None | None | None | None | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
(a) Investments, at cost — Unaffiliated |
$ | 178,145,297 | $ | 121,276,408 | $ | 60,568,129 | $ | 69,581,772 | ||||||||
(b) Investments, at cost — Affiliated |
$ | 160,825 | $ | 604,738 | $ | 281,268 | $ | 450,500 |
See notes to financial statements.
FINANCIAL STATEMENTS |
111 |
Year Ended October 31, 2021
iShares iBonds Dec 2021 Term Muni Bond ETF |
iShares iBonds Dec 2022 Term Muni Bond ETF |
iShares iBonds Dec 2023 Term Muni Bond ETF |
iShares iBonds Dec 2024 Term Muni Bond ETF |
|||||||||||||
INVESTMENT INCOME |
||||||||||||||||
Dividends — Affiliated |
$ | 307 | $ | 55 | $ | 55 | $ | 52 | ||||||||
Interest — Unaffiliated |
3,264,964 | 5,345,910 | 4,152,962 | 2,345,127 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total investment income |
3,265,271 | 5,345,965 | 4,153,017 | 2,345,179 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
EXPENSES |
||||||||||||||||
Investment advisory fees |
551,105 | 675,978 | 561,718 | 392,589 | ||||||||||||
Miscellaneous |
173 | 173 | 173 | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses |
551,278 | 676,151 | 561,891 | 392,589 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income |
2,713,993 | 4,669,814 | 3,591,126 | 1,952,590 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments — Unaffiliated |
(149,723 | ) | 4,711 | (2,798 | ) | — | ||||||||||
Investments — Affiliated |
(109 | ) | (14 | ) | 247 | 343 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized gain (loss) |
(149,832 | ) | 4,697 | (2,551 | ) | 343 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
Investments — Unaffiliated |
(2,315,357 | ) | (3,578,880 | ) | (2,371,071 | ) | (1,200,831 | ) | ||||||||
Investments — Affiliated |
19 | (7 | ) | — | (9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) |
(2,315,338 | ) | (3,578,887 | ) | (2,371,071 | ) | (1,200,840 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized and unrealized loss |
(2,465,170 | ) | (3,574,190 | ) | (2,373,622 | ) | (1,200,497 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 248,823 | $ | 1,095,624 | $ | 1,217,504 | $ | 752,093 | ||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
112 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Statements of Operations (continued)
Year Ended October 31, 2021
iShares iBonds Dec 2025 Term Muni Bond ETF |
iShares iBonds Dec 2026 Term Muni Bond ETF |
iShares iBonds Dec 2027 Term Muni Bond ETF |
iShares iBonds Dec 2028 Term Muni Bond ETF |
|||||||||||||
INVESTMENT INCOME |
||||||||||||||||
Dividends — Affiliated |
$ | 44 | $ | 45 | $ | 25 | $ | 22 | ||||||||
Interest — Unaffiliated |
1,380,940 | 814,428 | 530,505 | 795,594 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total investment income |
1,380,984 | 814,473 | 530,530 | 795,616 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
EXPENSES |
||||||||||||||||
Investment advisory fees |
273,377 | 175,265 | 88,909 | 113,487 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses |
273,377 | 175,265 | 88,909 | 113,487 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income |
1,107,607 | 639,208 | 441,621 | 682,129 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments — Unaffiliated |
(866 | ) | 40,746 | (830 | ) | — | ||||||||||
Investments — Affiliated |
688 | 363 | (63 | ) | (47 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized gain (loss) |
(178 | ) | 41,109 | (893 | ) | (47 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
Investments — Unaffiliated |
(996,079 | ) | (581,427 | ) | (362,388 | ) | (391,202 | ) | ||||||||
Investments — Affiliated |
(12 | ) | 5 | 9 | 25 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) |
(996,091 | ) | (581,422 | ) | (362,379 | ) | (391,177 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized and unrealized loss |
(996,269 | ) | (540,313 | ) | (363,272 | ) | (391,224 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 111,338 | $ | 98,895 | $ | 78,349 | $ | 290,905 | ||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
FINANCIAL STATEMENTS |
113 |
Statements of Changes in Net Assets
iShares iBonds Dec 2021 Term Muni Bond ETF |
iShares iBonds Dec 2022 Term Muni Bond ETF |
|||||||||||||||||||
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
|||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||
Net investment income |
$ | 2,713,993 | $ | 4,215,573 | $ | 4,669,814 | $ | 4,870,357 | ||||||||||||
Net realized gain (loss) |
(149,832 | ) | 37,854 | 4,697 | 209,008 | |||||||||||||||
Net change in unrealized appreciation (depreciation) |
(2,315,338 | ) | 213,547 | (3,578,887 | ) | 2,457,340 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net increase in net assets resulting from operations |
248,823 | 4,466,974 | 1,095,624 | 7,536,705 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(3,037,732 | ) | (4,244,636 | ) | (4,579,553 | ) | (4,862,022 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||
Net increase (decrease) in net assets derived from capital share transactions |
(31,980,764 | ) | 11,745,277 | 26,361,381 | 23,921,687 | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
NET ASSETS |
||||||||||||||||||||
Total increase (decrease) in net assets |
(34,769,673 | ) | 11,967,615 | 22,877,452 | 26,596,370 | |||||||||||||||
Beginning of year |
311,171,607 | 299,203,992 | 356,229,279 | 329,632,909 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
End of year |
$ | 276,401,934 | $ | 311,171,607 | $ | 379,106,731 | $ | 356,229,279 | ||||||||||||
|
|
|
|
|
|
|
|
(a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
114 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Statements of Changes in Net Assets (continued)
iShares iBonds Dec 2023 Term Muni Bond ETF |
iShares iBonds Dec 2024 Term Muni Bond ETF |
|||||||||||||||||||
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
|||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||
Net investment income |
$ | 3,591,126 | $ | 3,586,543 | $ | 1,952,590 | $ | 1,849,562 | ||||||||||||
Net realized gain (loss) |
(2,551 | ) | 504 | 343 | 34,786 | |||||||||||||||
Net change in unrealized appreciation (depreciation) |
(2,371,071 | ) | 3,248,369 | (1,200,840 | ) | 2,730,210 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net increase in net assets resulting from operations |
1,217,504 | 6,835,416 | 752,093 | 4,614,558 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(3,555,641 | ) | (3,587,443 | ) | (1,922,743 | ) | (1,817,422 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||
Net increase in net assets derived from capital share transactions |
62,734,199 | 57,454,207 | 64,837,544 | 72,555,112 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
NET ASSETS |
||||||||||||||||||||
Total increase in net assets |
60,396,062 | 60,702,180 | 63,666,894 | 75,352,248 | ||||||||||||||||
Beginning of year |
276,078,662 | 215,376,482 | 179,566,433 | 104,214,185 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
End of year |
$ | 336,474,724 | $ | 276,078,662 | $ | 243,233,327 | $ | 179,566,433 | ||||||||||||
|
|
|
|
|
|
|
|
(a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
FINANCIAL STATEMENTS |
115 |
Statements of Changes in Net Assets (continued)
iShares iBonds Dec 2025 Term Muni Bond ETF |
iShares iBonds Dec 2026 Term Muni Bond ETF |
|||||||||||||||||||
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
|||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||
Net investment income |
$ | 1,107,607 | $ | 889,945 | $ | 639,208 | $ | 381,725 | ||||||||||||
Net realized gain (loss) |
(178 | ) | 260 | 41,109 | 75 | |||||||||||||||
Net change in unrealized appreciation (depreciation) |
(996,091 | ) | 2,039,084 | (581,422 | ) | 991,014 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net increase in net assets resulting from operations |
111,338 | 2,929,289 | 98,895 | 1,372,814 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(1,083,369 | ) | (867,929 | ) | (601,032 | ) | (362,847 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||
Net increase in net assets derived from capital share transactions |
64,441,736 | 73,551,989 | 60,707,292 | 41,275,138 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
NET ASSETS |
||||||||||||||||||||
Total increase in net assets |
63,469,705 | 75,613,349 | 60,205,155 | 42,285,105 | ||||||||||||||||
Beginning of year |
119,020,641 | 43,407,292 | 62,996,511 | 20,711,406 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
End of year |
$ | 182,490,346 | $ | 119,020,641 | $ | 123,201,666 | $ | 62,996,511 | ||||||||||||
|
|
|
|
|
|
|
|
(a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
116 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Statements of Changes in Net Assets (continued)
iShares iBonds Dec 2027 Term Muni Bond ETF |
iShares iBonds Dec 2028 Term Muni Bond ETF |
|||||||||||||||||||
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/21 |
Year Ended 10/31/20 |
|||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||
Net investment income |
$ | 441,621 | $ | 298,174 | $ | 682,129 | $ | 507,203 | ||||||||||||
Net realized gain (loss) |
(893 | ) | 133 | (47 | ) | (126 | ) | |||||||||||||
Net change in unrealized appreciation (depreciation) |
(362,379 | ) | 755,863 | (391,177 | ) | 1,272,467 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net increase in net assets resulting from operations |
78,349 | 1,054,170 | 290,905 | 1,779,544 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(428,577 | ) | (282,146 | ) | (668,473 | ) | (476,982 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||
Net increase in net assets derived from capital share transactions |
24,465,240 | 20,037,907 | 20,585,468 | 25,426,696 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
NET ASSETS |
||||||||||||||||||||
Total increase in net assets |
24,115,012 | 20,809,931 | 20,207,900 | 26,729,258 | ||||||||||||||||
Beginning of year |
37,687,236 | 16,877,305 | 51,525,352 | 24,796,094 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
End of year |
$ | 61,802,248 | $ | 37,687,236 | $ | 71,733,252 | $ | 51,525,352 | ||||||||||||
|
|
|
|
|
|
|
|
(a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
FINANCIAL STATEMENTS |
117 |
(For a share outstanding throughout each period)
iShares iBonds Dec 2021 Term Muni Bond ETF | ||||||||||||||||||||
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
Year Ended 10/31/17 |
||||||||||||||||
Net asset value, beginning of year |
$ | 25.82 | $ | 25.79 | $ | 25.22 | $ | 25.76 | $ | 25.84 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income(a) |
0.23 | 0.36 | 0.37 | 0.34 | 0.32 | |||||||||||||||
Net realized and unrealized gain (loss)(b) |
(0.21 | ) | 0.03 | 0.57 | (0.55 | ) | (0.10 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net increase (decrease) from investment operations |
0.02 | 0.39 | 0.94 | (0.21 | ) | 0.22 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Distributions(c) |
||||||||||||||||||||
From net investment income |
(0.25 | ) | (0.36 | ) | (0.37 | ) | (0.33 | ) | (0.30 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total distributions |
(0.25 | ) | (0.36 | ) | (0.37 | ) | (0.33 | ) | (0.30 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net asset value, end of year |
$ | 25.59 | $ | 25.82 | $ | 25.79 | $ | 25.22 | $ | 25.76 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Return(d) |
||||||||||||||||||||
Based on net asset value |
0.08 | % | 1.53 | % | 3.74 | % | (0.83 | )% | 0.86 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total expenses after fees waived |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income |
0.89 | % | 1.39 | % | 1.46 | % | 1.34 | % | 1.24 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Supplemental Data |
||||||||||||||||||||
Net assets, end of year (000) |
$ | 276,402 | $ | 311,172 | $ | 299,204 | $ | 230,760 | $ | 159,735 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Portfolio turnover rate(e) |
86 | % | 0 | %(f) | 0 | %(f) | 0 | %(f) | 0 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
|
(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) |
Portfolio turnover rate excludes in-kind transactions. |
(f) |
Rounds to less than 1%. |
See notes to financial statements.
118 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBonds Dec 2022 Term Muni Bond ETF | ||||||||||||||||||||
Year Ended 10/31/21 |
Year Ended 10/31/20 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
Year Ended 10/31/17 |
||||||||||||||||
Net asset value, beginning of year |
$ | 26.39 | $ | 26.16 | $ | 25.29 | $ | 25.97 | $ | 26.12 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income(a) |
0.33 | 0.38 | 0.41 | 0.39 | 0.37 | |||||||||||||||
Net realized and unrealized gain (loss)(b) |
(0.25 | ) | 0.23 | 0.86 | (0.70 | ) | (0.17 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net increase (decrease) from investment operations |
0.08 | 0.61 | 1.27 | (0.31 | ) | 0.20 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Distributions(c) |
||||||||||||||||||||
From net investment income |
(0.32 | ) | (0.38 | ) | (0.40 | ) | (0.37 | ) | (0.35 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total distributions |
(0.32 | ) | (0.38 | ) | (0.40 | ) | (0.37 | ) | (0.35 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net asset value, end of year |
$ | 26.15 | $ | 26.39 | $ | 26.16 | $ | 25.29 | $ | 25.97 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Return(d) |
||||||||||||||||||||
Based on net asset value |
0.27 | % | 2.33 | % | 5.04 | % | (1.18 | )% | 0.78 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total expenses after fees waived |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income |
1.24 | % | 1.43 | % | 1.56 | % | 1.52 | % | 1.43 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Supplemental Data |
||||||||||||||||||||
Net assets, end of year (000) |
$ | 379,107 | $ | 356,229 | $ | 329,633 | $ | 232,703 | $ | 153,237 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Portfolio turnover rate(e) |
0 | %(f) | 0 | %(f) | 0 | %(f) | 0 | %(f) | 1 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(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) |
Portfolio turnover rate excludes in-kind transactions. |
(f) |
Rounds to less than 1%. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS |
119 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBonds Dec 2023 Term Muni Bond ETF | ||||||||||||||||||||
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Year Ended 10/31/19 |
|
|
Year Ended 10/31/18 |
|
|
Period From 04/11/17 to 10/31/17 |
(a)
| ||||||
Net asset value, beginning of period |
$ | 26.17 | $ | 25.79 | $ | 24.68 | $ | 25.41 | $ | 25.00 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income(b) |
0.30 | 0.39 | 0.45 | 0.43 | 0.20 | |||||||||||||||
Net realized and unrealized gain (loss)(c) |
(0.19 | ) | 0.38 | 1.10 | (0.78 | ) | 0.38 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net increase (decrease) from investment operations |
0.11 | 0.77 | 1.55 | (0.35 | ) | 0.58 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Distributions(d) |
||||||||||||||||||||
From net investment income |
(0.30 | ) | (0.39 | ) | (0.44 | ) | (0.38 | ) | (0.17 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total distributions |
(0.30 | ) | (0.39 | ) | (0.44 | ) | (0.38 | ) | (0.17 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net asset value, end of period |
$ | 25.98 | $ | 26.17 | $ | 25.79 | $ | 24.68 | $ | 25.41 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Return(e) |
||||||||||||||||||||
Based on net asset value |
0.43 | % | 3.02 | % | 6.31 | % | (1.37 | )% | 2.32 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | %(g) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income |
1.15 | % | 1.49 | % | 1.75 | % | 1.72 | % | 1.40 | %(g) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Supplemental Data |
||||||||||||||||||||
Net assets, end of period (000) |
$ | 336,475 | $ | 276,079 | $ | 215,376 | $ | 115,977 | $ | 25,407 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Portfolio turnover rate(h) |
0 | %(i) | 1 | % | 0 | %(i) | 0 | %(i) | 0 | %(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) |
Annualized. |
(h) |
Portfolio turnover rate excludes in-kind transactions. |
(i) |
Rounds to less than 1%. |
See notes to financial statements.
120 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBonds Dec 2024 Term Muni Bond ETF | ||||||||||||||||
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Year Ended 10/31/19 |
|
|
Period From 03/20/18 to 10/31/18 |
(a)
| |||||
Net asset value, beginning of period |
$ | 27.00 | $ | 26.38 | $ | 24.90 | $ | 24.98 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income(b) |
0.24 | 0.36 | 0.48 | 0.32 | ||||||||||||
Net realized and unrealized gain (loss)(c) |
(0.12 | ) | 0.62 | 1.48 | (0.15 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase from investment operations |
0.12 | 0.98 | 1.96 | 0.17 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Distributions(d) |
||||||||||||||||
From net investment income |
(0.24 | ) | (0.36 | ) | (0.48 | ) | (0.25 | ) | ||||||||
From net realized gain |
— | (0.00 | )(e) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total distributions |
(0.24 | ) | (0.36 | ) | (0.48 | ) | (0.25 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net asset value, end of period |
$ | 26.88 | $ | 27.00 | $ | 26.38 | $ | 24.90 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Return(f) |
||||||||||||||||
Based on net asset value |
0.42 | % | 3.75 | % | 7.91 | % | 0.70 | %(g) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Ratios to Average Net Assets |
||||||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income |
0.90 | % | 1.35 | % | 1.85 | % | 2.08 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Supplemental Data |
||||||||||||||||
Net assets, end of period (000) |
$ | 243,233 | $ | 179,566 | $ | 104,214 | $ | 23,654 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Portfolio turnover rate(i) |
0 | % | 0 | %(j) | 0 | %(j) | 0 | %(g)(j) | ||||||||
|
|
|
|
|
|
|
|
(a) |
Commencement of operations. |
(b) |
Based on average shares outstanding. |
(c) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
(d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(e) |
Rounds to less than $0.01. |
(f) |
Where applicable, assumes the reinvestment of distributions. |
(g) |
Not annualized. |
(h) |
Annualized. |
(i) |
Portfolio turnover rate excludes in-kind transactions. |
(j) |
Rounds to less than 1%. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS |
121 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBonds Dec 2025 Term Muni Bond ETF | ||||||||||||
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 11/13/18 to 10/31/19 |
(a)
| ||||
Net asset value, beginning of period |
$ | 28.00 | $ | 27.13 | $ | 25.00 | ||||||
|
|
|
|
|
|
|||||||
Net investment income(b) |
0.20 | 0.34 | 0.46 | |||||||||
Net realized and unrealized gain (loss)(c) |
(0.13 | ) | 0.88 | 2.08 | ||||||||
|
|
|
|
|
|
|||||||
Net increase from investment operations |
0.07 | 1.22 | 2.54 | |||||||||
|
|
|
|
|
|
|||||||
Distributions(d) |
||||||||||||
From net investment income |
(0.21 | ) | (0.35 | ) | (0.41 | ) | ||||||
|
|
|
|
|
|
|||||||
Total distributions |
(0.21 | ) | (0.35 | ) | (0.41 | ) | ||||||
|
|
|
|
|
|
|||||||
Net asset value, end of period |
$ | 27.86 | $ | 28.00 | $ | 27.13 | ||||||
|
|
|
|
|
|
|||||||
Total Return(e) |
||||||||||||
Based on net asset value |
0.23 | % | 4.53 | % | 10.22 | %(f) | ||||||
|
|
|
|
|
|
|||||||
Ratios to Average Net Assets |
||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Net investment income |
0.73 | % | 1.21 | % | 1.76 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Supplemental Data |
||||||||||||
Net assets, end of period (000) |
$ | 182,490 | $ | 119,021 | $ | 43,407 | ||||||
|
|
|
|
|
|
|||||||
Portfolio turnover rate(h) |
0 | %(i) | 0 | %(i) | 0 | %(f)(i) | ||||||
|
|
|
|
|
|
(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) |
Annualized. |
(h) |
Portfolio turnover rate excludes in-kind transactions. |
(i) |
Rounds to less than 1%. |
See notes to financial statements.
122 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBonds Dec 2026 Term Muni Bond ETF | ||||||||||||
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 04/02/19 to 10/31/19 |
(a)
| ||||
Net asset value, beginning of period |
$ | 26.81 | $ | 25.89 | $ | 25.00 | ||||||
|
|
|
|
|
|
|||||||
Net investment income(b) |
0.18 | 0.30 | 0.21 | |||||||||
Net realized and unrealized gain (loss)(c) |
(0.03 | ) | 0.92 | 0.87 | ||||||||
|
|
|
|
|
|
|||||||
Net increase from investment operations |
0.15 | 1.22 | 1.08 | |||||||||
|
|
|
|
|
|
|||||||
Distributions(d) |
||||||||||||
From net investment income |
(0.18 | ) | (0.30 | ) | (0.19 | ) | ||||||
|
|
|
|
|
|
|||||||
Total distributions |
(0.18 | ) | (0.30 | ) | (0.19 | ) | ||||||
|
|
|
|
|
|
|||||||
Net asset value, end of period |
$ | 26.78 | $ | 26.81 | $ | 25.89 | ||||||
|
|
|
|
|
|
|||||||
Total Return(e) |
||||||||||||
Based on net asset value |
0.54 | % | 4.80 | % | 4.28 | %(f) | ||||||
|
|
|
|
|
|
|||||||
Ratios to Average Net Assets |
||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Net investment income |
0.66 | % | 1.13 | % | 1.42 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Supplemental Data |
||||||||||||
Net assets, end of period (000) |
$ | 123,202 | $ | 62,997 | $ | 20,711 | ||||||
|
|
|
|
|
|
|||||||
Portfolio turnover rate(h) |
2 | % | 0 | % | 0 | %(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) |
Annualized. |
(h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS |
123 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBonds Dec 2027 Term Muni Bond ETF | ||||||||||||
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 04/09/19 to 10/31/19 |
(a)
| ||||
Net asset value, beginning of period |
$ | 26.92 | $ | 25.97 | $ | 25.00 | ||||||
|
|
|
|
|
|
|||||||
Net investment income(b) |
0.24 | 0.33 | 0.22 | |||||||||
Net realized and unrealized gain (loss)(c) |
(0.05 | ) | 0.95 | 0.95 | ||||||||
|
|
|
|
|
|
|||||||
Net increase from investment operations |
0.19 | 1.28 | 1.17 | |||||||||
|
|
|
|
|
|
|||||||
Distributions(d) |
||||||||||||
From net investment income |
(0.24 | ) | (0.33 | ) | (0.20 | ) | ||||||
|
|
|
|
|
|
|||||||
Total distributions |
(0.24 | ) | (0.33 | ) | (0.20 | ) | ||||||
|
|
|
|
|
|
|||||||
Net asset value, end of period |
$ | 26.87 | $ | 26.92 | $ | 25.97 | ||||||
|
|
|
|
|
|
|||||||
Total Return(e) |
||||||||||||
Based on net asset value |
0.72 | % | 5.00 | % | 4.63 | %(f) | ||||||
|
|
|
|
|
|
|||||||
Ratios to Average Net Assets |
||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Net investment income |
0.89 | % | 1.24 | % | 1.53 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Supplemental Data |
||||||||||||
Net assets, end of period (000) |
$ | 61,802 | $ | 37,687 | $ | 16,877 | ||||||
|
|
|
|
|
|
|||||||
Portfolio turnover rate(h) |
0 | %(i) | 0 | % | 0 | %(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) |
Annualized. |
(h) |
Portfolio turnover rate excludes in-kind transactions. |
(i) |
Rounds to less than 1%. |
See notes to financial statements.
124 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBonds Dec 2028 Term Muni Bond ETF | ||||||||||||
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 04/16/19 to 10/31/19 |
(a)
| ||||
Net asset value, beginning of period |
$ | 27.12 | $ | 26.10 | $ | 25.00 | ||||||
|
|
|
|
|
|
|||||||
Net investment income(b) |
0.30 | 0.36 | 0.21 | |||||||||
Net realized and unrealized gain (loss)(c) |
(0.05 | ) | 1.00 | 1.08 | ||||||||
|
|
|
|
|
|
|||||||
Net increase from investment operations |
0.25 | 1.36 | 1.29 | |||||||||
|
|
|
|
|
|
|||||||
Distributions(d) |
||||||||||||
From net investment income |
(0.30 | ) | (0.34 | ) | (0.19 | ) | ||||||
|
|
|
|
|
|
|||||||
Total distributions |
(0.30 | ) | (0.34 | ) | (0.19 | ) | ||||||
|
|
|
|
|
|
|||||||
Net asset value, end of period |
$ | 27.07 | $ | 27.12 | $ | 26.10 | ||||||
|
|
|
|
|
|
|||||||
Total Return(e) |
||||||||||||
Based on net asset value |
0.90 | % | 5.26 | % | 5.15 | %(f) | ||||||
|
|
|
|
|
|
|||||||
Ratios to Average Net Assets |
||||||||||||
Total expenses |
0.18 | % | 0.18 | % | 0.18 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Net investment income |
1.08 | % | 1.33 | % | 1.49 | %(g) | ||||||
|
|
|
|
|
|
|||||||
Supplemental Data |
||||||||||||
Net assets, end of period (000) |
$ | 71,733 | $ | 51,525 | $ | 24,796 | ||||||
|
|
|
|
|
|
|||||||
Portfolio turnover rate(h) |
0 | % | 0 | % | 0 | %(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) |
Annualized. |
(h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS |
125 |
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 | |||
iBonds Dec 2021 Term Muni Bond |
Diversified | |||
iBonds Dec 2022 Term Muni Bond |
Diversified | |||
iBonds Dec 2023 Term Muni Bond |
Diversified | |||
iBonds Dec 2024 Term Muni Bond(a) |
Diversified | |||
iBonds Dec 2025 Term Muni Bond(a) |
Diversified | |||
iBonds Dec 2026 Term Muni Bond |
Non-diversified | |||
iBonds Dec 2027 Term Muni Bond |
Non-diversified | |||
iBonds Dec 2028 Term Muni Bond |
Non-diversified |
(a) |
The Fund’s classification changed from non-diversified to diversified during the reporting period. |
2. |
SIGNIFICANT ACCOUNTING POLICIES |
The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:
Investment Transactions and Income Recognition: For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.
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:
• |
Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income |
126 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (continued) |
securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless the Manager determines such method does not represent fair value. |
• |
Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published NAV. |
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.
4. |
SECURITIES AND OTHER INVESTMENTS |
Zero-Coupon Bonds: Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.
5. |
INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Investment Advisory Fees: Pursuant to an Investment Advisory Agreement with the Trust, BlackRock Fund Advisors (“BFA”) manages the investment of each Fund’s assets. BFA is a California corporation indirectly owned by BlackRock, Inc. (“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 of 0.18%, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund.
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.
Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.
NOTES TO FINANCIAL STATEMENTS |
127 |
Notes to Financial Statements (continued)
Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.
For the year ended October 31, 2021, 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) |
|||||||||
iBonds Dec 2021 Term Muni Bond |
$ | — | $ | 3,500,034 | $ | — |
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.
6. |
PURCHASES AND SALES |
For the year ended October 31, 2021, purchases and sales of investments, including mortgage dollar rolls and excluding short-term investments and in-kind transactions, were as follows:
iShares ETF | Purchases | Sales | ||||||
iBonds Dec 2021 Term Muni Bond |
$ | 233,231,337 | $ | 270,129,344 | ||||
iBonds Dec 2022 Term Muni Bond |
34,061,882 | 327,932 | ||||||
iBonds Dec 2023 Term Muni Bond |
71,425,174 | 45,000 | ||||||
iBonds Dec 2024 Term Muni Bond |
70,601,383 | — | ||||||
iBonds Dec 2025 Term Muni Bond |
68,946,512 | 622,718 | ||||||
iBonds Dec 2026 Term Muni Bond |
65,043,322 | 1,854,488 | ||||||
iBonds Dec 2027 Term Muni Bond |
25,801,742 | 123,356 | ||||||
iBonds Dec 2028 Term Muni Bond |
21,629,482 | — |
There were no in-kind transactions for the year ended October 31, 2021.
7. |
INCOME TAX INFORMATION |
Each Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.
Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2021, 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.
The tax character of distributions paid was as follows:
iShares ETF | Year Ended 10/31/21 |
Year Ended 10/31/20 |
||||||
iBonds
Dec 2021 Term Muni Bond |
$ | 3,036,966 | $ | 4,243,317 | ||||
Ordinary income |
766 | 1,319 | ||||||
|
|
|
|
|||||
$ | 3,037,732 | $ | 4,244,636 | |||||
|
|
|
|
|||||
iBonds
Dec 2022 Term Muni Bond |
$ | 4,579,334 | $ | 4,861,782 | ||||
Ordinary income |
219 | 240 | ||||||
|
|
|
|
|||||
$ | 4,579,553 | $ | 4,862,022 | |||||
|
|
|
|
|||||
iBonds
Dec 2023 Term Muni Bond |
$ | 3,555,641 | $ | 3,587,443 | ||||
|
|
|
|
|||||
iBonds
Dec 2024 Term Muni Bond |
$ | 1,922,500 | $ | 1,816,321 | ||||
Ordinary income |
243 | 1,098 | ||||||
Long-term capital gains |
— | 3 | ||||||
|
|
|
|
|||||
$ | 1,922,743 | $ | 1,817,422 | |||||
|
|
|
|
128 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (continued)
iShares ETF | Year Ended 10/31/21 |
Year Ended 10/31/20 |
||||||
iBonds
Dec 2025 Term Muni Bond |
$ | 1,083,369 | $ | 867,864 | ||||
Ordinary income |
— | 65 | ||||||
|
|
|
|
|||||
$ | 1,083,369 | $ | 867,929 | |||||
|
|
|
|
|||||
iBonds
Dec 2026 Term Muni Bond |
$ | 601,032 | $ | 362,847 | ||||
|
|
|
|
|||||
iBonds
Dec 2027 Term Muni Bond |
$ | 428,577 | $ | 282,146 | ||||
|
|
|
|
|||||
iBonds
Dec 2028 Term Muni Bond |
$ | 668,473 | $ | 476,704 | ||||
Ordinary income |
— | 278 | ||||||
|
|
|
|
|||||
$ | 668,473 | $ | 476,982 | |||||
|
|
|
|
(a) |
The Funds designate these amounts paid during the fiscal year ended October 31, 2021, as exempt-interest dividends. |
As of October 31, 2021, the tax components of accumulated net earnings (losses) were as follows:
iShares ETF | Undistributed Ordinary Income |
Undistributed Long-Term Capital Gains |
Non-expiring Capital Loss Carryforwards(a) |
Net Unrealized Gains (Losses)(b) |
Total | |||||||||||||||
iBonds Dec 2021 Term Muni Bond |
$ | 14,057 | $ | — | $ | (165,160 | ) | $ | 22,092 | $ | (129,011 | ) | ||||||||
iBonds Dec 2022 Term Muni Bond |
501,524 | — | (10,991 | ) | 3,200,965 | 3,691,498 | ||||||||||||||
iBonds Dec 2023 Term Muni Bond |
317,280 | — | (3,930 | ) | 5,322,448 | 5,635,798 | ||||||||||||||
iBonds Dec 2024 Term Muni Bond |
175,036 | — | (36 | ) | 3,914,840 | 4,089,840 | ||||||||||||||
iBonds Dec 2025 Term Muni Bond |
96,294 | — | (28 | ) | 2,022,254 | 2,118,520 | ||||||||||||||
iBonds Dec 2026 Term Muni Bond |
78,512 | 35,064 | — | 495,081 | 608,657 | |||||||||||||||
iBonds Dec 2027 Term Muni Bond |
40,775 | — | (815 | ) | 463,749 | 503,709 | ||||||||||||||
iBonds Dec 2028 Term Muni Bond |
63,229 | — | (166 | ) | 931,594 | 994,657 |
(a) |
Amounts available to offset future realized capital gains. |
(b) |
The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and amortization methods for premiums and discounts on fixed income securities. |
For the year ended October 31, 2021, the Funds listed below utilized the following amounts of their respective capital loss carryforwards:
iShares ETF | Utilized | |||
iBonds Dec 2022 Term Muni Bond |
$ | 4,806 | ||
iBonds Dec 2024 Term Muni Bond |
140 | |||
iBonds Dec 2026 Term Muni Bond |
10 |
As of October 31, 2021, 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) |
||||||||||||
iBonds Dec 2021 Term Muni Bond |
$ | 274,564,043 | $ | 23,101 | $ | (1,100 | ) | $ | 22,001 | |||||||
iBonds Dec 2022 Term Muni Bond |
370,845,305 | 3,204,946 | (3,981 | ) | 3,200,965 | |||||||||||
iBonds Dec 2023 Term Muni Bond |
326,979,945 | 5,359,304 | (36,856 | ) | 5,322,448 | |||||||||||
iBonds Dec 2024 Term Muni Bond |
236,946,183 | 4,007,648 | (92,805 | ) | 3,914,843 | |||||||||||
iBonds Dec 2025 Term Muni Bond |
178,306,325 | 2,275,523 | (253,269 | ) | 2,022,254 | |||||||||||
iBonds Dec 2026 Term Muni Bond |
121,881,229 | 924,641 | (429,560 | ) | 495,081 | |||||||||||
iBonds Dec 2027 Term Muni Bond |
60,849,478 | 716,146 | (252,397 | ) | 463,749 | |||||||||||
iBonds Dec 2028 Term Muni Bond |
70,032,303 | 1,167,068 | (235,474 | ) | 931,594 |
NOTES TO FINANCIAL STATEMENTS |
129 |
Notes to Financial Statements (continued)
8. |
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.
Market Risk: Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund’s portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio’s current earnings rate.
Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest or otherwise affect the value of such securities. Municipal securities can be significantly affected by political or economic changes, including changes made in the law after issuance of the securities, as well as uncertainties in the municipal market related to, taxation, legislative changes or the rights of municipal security holders, including in connection with an issuer insolvency. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the tax benefits supporting the project or assets or the inability to collect revenues for the project or from the assets. Municipal securities may be less liquid than taxable bonds, and there may be less publicly available information on the financial condition of municipal security issuers than for issuers of other securities.
An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. The duration of this pandemic and its effects cannot be determined with certainty.
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.
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 state or limited number of states, When a Fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political or social conditions affecting that state or group of states could 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 states or U.S. territories are presented in the schedule of investments.
The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will increase as interest rates fall and decrease as interest rates rise. The Funds may be subject to a greater risk of rising interest rates due to the current period of historically low rates.
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 will be phased out by the end of 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.
9. |
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.
130 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (continued)
Transactions in capital shares were as follows:
Year Ended 10/31/21 | Year Ended 10/31/20 | |||||||||||||||
iShares ETF | Shares | Amount | Shares | Amount | ||||||||||||
iBonds Dec 2021 Term Muni Bond |
||||||||||||||||
Shares sold |
800,000 | $ | 20,590,234 | 1,350,000 | $ | 34,916,801 | ||||||||||
Shares redeemed |
(2,050,000 | ) | (52,570,998 | ) | (900,000 | ) | (23,171,524 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) |
(1,250,000 | ) | $ | (31,980,764 | ) | 450,000 | $ | 11,745,277 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
iBonds Dec 2022 Term Muni Bond |
||||||||||||||||
Shares sold |
1,300,000 | $ | 34,238,031 | 2,450,000 | $ | 64,626,747 | ||||||||||
Shares redeemed |
(300,000 | ) | (7,876,650 | ) | (1,550,000 | ) | (40,705,060 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase |
1,000,000 | $ | 26,361,381 | 900,000 | $ | 23,921,687 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
iBonds Dec 2023 Term Muni Bond |
||||||||||||||||
Shares sold |
2,400,000 | $ | 62,734,199 | 2,600,000 | $ | 67,826,651 | ||||||||||
Shares redeemed |
— | — | (400,000 | ) | (10,372,444 | ) | ||||||||||
Net increase |
2,400,000 | $ | 62,734,199 | 2,200,000 | $ | 57,454,207 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
iBonds Dec 2024 Term Muni Bond |
||||||||||||||||
Shares sold |
2,400,000 | $ | 64,837,544 | 3,100,000 | $ | 83,174,865 | ||||||||||
Shares redeemed |
— | — | (400,000 | ) | (10,619,753 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase |
2,400,000 | $ | 64,837,544 | 2,700,000 | $ | 72,555,112 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
iBonds Dec 2025 Term Muni Bond |
||||||||||||||||
Shares sold |
2,350,000 | $ | 65,849,082 | 2,750,000 | $ | 76,295,785 | ||||||||||
Shares redeemed |
(50,000 | ) | (1,407,346 | ) | (100,000 | ) | (2,743,796 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase |
2,300,000 | $ | 64,441,736 | 2,650,000 | $ | 73,551,989 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
iBonds Dec 2026 Term Muni Bond |
||||||||||||||||
Shares sold |
2,250,000 | $ | 60,707,292 | 1,550,000 | $ | 41,275,138 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
iBonds Dec 2027 Term Muni Bond |
||||||||||||||||
Shares sold |
900,000 | $ | 24,465,240 | 850,000 | $ | 22,656,543 | ||||||||||
Shares redeemed |
— | — | (100,000 | ) | (2,618,636 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase |
900,000 | $ | 24,465,240 | 750,000 | $ | 20,037,907 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
iBonds Dec 2028 Term Muni Bond |
||||||||||||||||
Shares sold |
750,000 | $ | 20,585,468 | 1,100,000 | $ | 29,414,786 | ||||||||||
Shares redeemed |
— | — | (150,000 | ) | (3,988,090 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase |
750,000 | $ | 20,585,468 | 950,000 | $ | 25,426,696 | ||||||||||
|
|
|
|
|
|
|
|
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.
10. |
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:
Planned Fund Liquidation: In accordance with its prospectus and its investment objective, the iShares iBonds Dec 2021 Term Muni Bond ETF ceased trading after the close of business on December 1, 2021, when all of the bonds included in the Fund’s underlying index matured. Proceeds of the liquidation were sent to shareholders on December 6, 2021.
NOTES TO FINANCIAL STATEMENTS |
131 |
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of
iShares Trust and Shareholders of iShares iBonds Dec 2021 Term Muni Bond ETF, iShares iBonds Dec 2022 Term Muni Bond ETF, iShares iBonds Dec 2023 Term Muni Bond ETF, iShares iBonds Dec 2024 Term Muni Bond ETF, iShares iBonds Dec 2025 Term Muni Bond ETF, iShares iBonds Dec 2026 Term Muni Bond ETF, iShares iBonds Dec 2027 Term Muni Bond ETF and iShares iBonds Dec 2028 Term Muni Bond ETF
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of iShares iBonds Dec 2021 Term Muni Bond ETF, iShares iBonds Dec 2022 Term Muni Bond ETF, iShares iBonds Dec 2023 Term Muni Bond ETF, iShares iBonds Dec 2024 Term Muni Bond ETF, iShares iBonds Dec 2025 Term Muni Bond ETF, iShares iBonds Dec 2026 Term Muni Bond ETF, iShares iBonds Dec 2027 Term Muni Bond ETF and iShares iBonds Dec 2028 Term Muni Bond ETF (eight of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of October 31, 2021, the related statements of operations for the year ended October 31, 2021, the statements of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2021, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2021 and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2021 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
December 21, 2021
We have served as the auditor of one or more BlackRock investment companies since 2000.
132 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Board Review and Approval of Investment Advisory Contract
iShares iBonds Dec 2021 Term Muni Bond ETF, iShares iBonds Dec 2022 Term Muni Bond ETF, iShares iBonds Dec 2023 Term Muni Bond ETF, iShares iBonds Dec 2024 Term Muni Bond ETF, iShares iBonds Dec 2025 Term Muni Bond ETF, iShares iBonds Dec 2026 Term Muni Bond ETF, iShares iBonds Dec 2027 Term Muni Bond ETF, iShares iBonds Dec 2028 Term Muni Bond ETF (each the “Fund”)
Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 7, 2021 and May 14, 2021, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 15-16, 2021, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.
After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.
Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs (including, where applicable, funds sponsored by an “at cost” service provider), 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 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 overall fund expenses (net of waivers and reimbursements) for the Fund were lower than the median of the overall fund expenses (net of waivers and reimbursements ) of the funds in its Peer Group, excluding iShares funds.
In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2020, to that of relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent and proposed enhancements to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, which were provided at the May 7, 2021 meeting and throughout the year.
Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
BOARD REVIEW AND APPROVAL OF INVESTMENT ADVISORY CONTRACT |
133 |
Board Review and Approval of Investment Advisory Contract (continued)
Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).
Based on this review, the Board concluded that the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, were within a reasonable range in light of the factors and other information considered.
Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.
The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.
The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.
The Board also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.
Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to (i) an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds and (ii) other technology-related initiatives aimed to better support the iShares funds. The Board further noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.
Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.
134 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Supplemental Information (unaudited)
Section 19(a) Notices
The amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.
October 31, 2021
Total Cumulative
Distributions for the Fiscal Year |
% Breakdown of the Total
Cumulative Distributions for the Fiscal Year |
|||||||||||||||||||||||||||||||
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 |
||||||||||||||||||||||||
iBonds Dec 2021 Term Muni Bond(a) |
$ | 0.249330 | $ | — | $ | 0.001096 | $ | 0.250426 | 100 | % | — | % | 0 | %(b) | 100 | % | ||||||||||||||||
iBonds Dec 2022 Term Muni Bond |
0.321699 | — | — | 0.321699 | 100 | — | — | 100 | ||||||||||||||||||||||||
iBonds Dec 2023 Term Muni Bond |
0.301646 | — | — | 0.301646 | 100 | — | — | 100 | ||||||||||||||||||||||||
iBonds Dec 2024 Term Muni Bond |
0.243110 | — | — | 0.243110 | 100 | — | — | 100 | ||||||||||||||||||||||||
iBonds Dec 2025 Term Muni Bond |
0.206016 | — | — | 0.206016 | 100 | — | — | 100 | ||||||||||||||||||||||||
iBonds Dec 2026 Term Muni Bond |
0.175187 | — | — | 0.175187 | 100 | — | — | 100 | ||||||||||||||||||||||||
iBonds Dec 2027 Term Muni Bond |
0.243539 | — | — | 0.243539 | 100 | — | — | 100 | ||||||||||||||||||||||||
iBonds Dec 2028 Term Muni Bond |
0.296317 | — | — | 0.296317 | 100 | — | — | 100 |
(a) |
The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
(b) |
Rounds to less than 1%. |
Premium/Discount Information
Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.
SUPPLEMENTAL INFORMATION |
135 |
Trustee and Officer Information
The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by BFA and other service providers. Each Trustee serves until he or she resigns, is removed, dies, retires or becomes incapacitated. Each officer shall hold office until his or her successor is elected and qualifies or until his or her death, resignation or removal. Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust are referred to as independent trustees (“Independent Trustees”).
The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 375 funds as of October 31, 2021. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated Cecilia H. Herbert as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).
Interested Trustees | ||||||
Name (Age) |
Position(s) | Principal Occupation(s) During the Past 5 Years | Other Directorships Held by Trustee | |||
Robert S. Kapito(a) (64) |
Trustee (since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Salim Ramji(b) (51) |
Trustee (since 2019). |
Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
(a) |
Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
(b) |
Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Independent Trustees | ||||||
Name (Age) |
Position(s) | Principal Occupation(s) During the Past 5 Years | Other Directorships Held by Trustee | |||
Cecilia H. Herbert (72) |
Trustee (since 2005); Independent Board Chair (since 2016). |
Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York’s public media company (since 2011) and Member of the Audit Committee (since 2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher School; Director of the Senior Center of Jackson Hole (since 2020). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Jane D. Carlin (65) |
Trustee (since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard L. Fagnani (66) |
Trustee (since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). |
136 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Trustee and Officer Information (continued)
Independent Trustees (continued) | ||||||
Name (Age) |
Position(s) | Principal Occupation(s) During the Past 5 Years | Other Directorships Held by Trustee | |||
John E. Kerrigan (66) |
Trustee (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Drew E. Lawton (62) |
Trustee (since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John E. Martinez (60) |
Trustee (since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Madhav V. Rajan (57) |
Trustee (since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Director of iShares, Inc. (since 2011); Trustee of iShares U.S. ETF Trust (since 2011). |
Officers | ||||
Name (Age) |
Position(s) | Principal Occupation(s) During the Past 5 Years | ||
Armando Senra (50) |
President (since 2019). |
Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent Walker (47) |
Treasurer and
Chief Financial Officer (since 2020). |
Managing Director, BlackRock, Inc. (since September 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. | ||
Charles Park (54) |
Chief Compliance
Officer (since 2006). |
Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the BlackRock Multi-Asset Complex and the BlackRock Fixed-Income Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa Damre Smith (46) |
Secretary (since 2019). |
Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott Radell (52) |
Executive Vice
President (since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan Mason (60) |
Executive Vice
President (since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth Leithead (58) |
Executive Vice
President (since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
TRUSTEE AND OFFICER INFORMATION |
137 |
Electronic Delivery
Shareholders can sign up for email notifications announcing that the shareholder report or prospectus has been posted on the iShares website at iShares.com. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.
To enroll in electronic delivery:
• |
Go to icsdelivery.com. |
• |
If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor. |
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents and Rule 30e-3 notices can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Availability of Quarterly Schedule of Investments
The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.
Availability of Proxy Voting Policies and Proxy Voting Records
A description of the policies and procedures that the iShares Funds use to determine how to vote proxies relating to portfolio securities and information about how the iShares Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request (1) by calling toll-free 1-800-474-2737; (2) on the iShares website at iShares.com; and (3) on the SEC website at sec.gov.
A description of the Company’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.
138 |
2021 ISHARES ANNUAL REPORT TO SHAREHOLDERS |
Glossary of Terms Used in this Report
Portfolio Abbreviations - Fixed Income | ||
AGC | Assured Guaranty Corp. | |
AGM | Assured Guaranty Municipal Corp. | |
AMBAC | Ambac Assurance Corp. | |
BAM | Build America Mutual Assurance Co. | |
COP | Certificates of Participation | |
ETM | Escrowed to Maturity | |
FGIC | Financial Guaranty Insurance Co. | |
GO | General Obligation | |
GOL | General Obligation Limited | |
GTD | Guaranteed | |
HERBIP | Higher Education Revenue Bond Intercept Program | |
MO | Moral Obligation | |
NPFGC | National Public Finance Guarantee Corp. | |
PR | Prerefunded | |
PSF | Permanent School Fund | |
RB | Revenue Bond | |
SAP | Subject to Appropriations | |
SAW | State Aid Withholding | |
SCH BD GTY | School Board Guaranty | |
SCH BD RES FD | School Board Resolution Fund | |
SCSDE | South Carolina State Department of Education | |
ST | Special Tax | |
TA | Tax Allocation |
GLOSSARY OF TERMS USED IN THIS REPORT |
139 |
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 S&P Dow Jones Indices LLC, 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.
©2021 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.
iS-AR-1015-1021
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