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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-09102
iShares, Inc.
(Exact name of Registrant as specified in charter)
c/o: State Street Bank and Trust Company
1 Iron Street, Boston, MA 02210
(Address of principal executive offices) (Zip code)
The Corporation Trust Incorporated
351 West Camden Street, Baltimore, MD 21201
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 670-2000
Date of fiscal year end: October 31, 2015
Date of reporting period: April 30, 2015
Table of Contents
Item 1. Reports to Stockholders.
Copies of the semi-annual reports transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 are attached.
Table of Contents
APRIL 30, 2015
2015 SEMI-ANNUAL REPORT (UNAUDITED) | ![]() |
iShares, Inc.
Ø | iShares Emerging Markets Corporate Bond ETF | CEMB | BATS |
Ø | iShares Emerging Markets High Yield Bond ETF | EMHY | BATS |
Ø | iShares Emerging Markets Local Currency Bond ETF | LEMB | NYSE Arca |
Ø | iShares Global ex USD High Yield Corporate Bond ETF | HYXU | BATS |
Ø | iShares Global High Yield Corporate Bond ETF | GHYG | BATS |
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5 | ||||
10 | ||||
10 | ||||
11 | ||||
11 | ||||
17 | ||||
25 | ||||
29 | ||||
44 | ||||
70 | ||||
77 | ||||
82 | ||||
92 |
Table of Contents
iSHARES® EMERGING MARKETS CORPORATE BOND ETF
Performance as of April 30, 2015
The iShares Emerging Markets Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, emerging market corporate bonds, as represented by the Morningstar® Emerging Markets Corporate Bond IndexSM (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. For the six-month reporting period ended April 30, 2015, the total return for the Fund was 0.43%, net of fees, while the total return for the Index was 1.11%.
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||
NAV | MARKET | INDEX | NAV | MARKET | INDEX | |||||||||||||||||||||
1 Year | 3.54% | 4.39% | 4.49% | 3.54% | 4.39% | 4.49% | ||||||||||||||||||||
Since Inception | 4.12% | 4.17% | 4.77% | 13.06% | 13.22% | 15.19% |
The inception date of the Fund was 4/17/12. The first day of secondary market trading was 4/19/12.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Shareholder Expenses | ||||||||||||||||||||||||||
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Annualized Expense Ratio | ||||||||||||||||||||
$ | 1,000.00 | $ | 1,004.30 | $ | 2.78 | $ | 1,000.00 | $ | 1,022.00 | $ | 2.81 | 0.56% |
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 (181 days) and divided by the number of days in the year (365 days). See “Shareholder Expenses” on page 10 for more information. |
ALLOCATION BY CREDIT QUALITY
As of 4/30/15
Moody’s Credit Rating1 | Percentage of Total Investments2 | |||
Aa | 12.61 | % | ||
A | 19.29 | |||
Baa | 34.63 | |||
Ba | 19.70 | |||
B | 3.56 | |||
Caa | 0.59 | |||
Not Rated | 9.62 | |||
|
| |||
TOTAL | 100.00 | % | ||
|
|
TEN LARGEST COUNTRIES3
As of 4/30/15
Country | Percentage of Total Investments2 | |||
Brazil | 16.75 | % | ||
Mexico | 12.43 | |||
China | 10.20 | |||
Russia | 9.73 | |||
South Korea | 8.36 | |||
India | 5.57 | |||
United Arab Emirates | 4.21 | |||
Hong Kong | 3.72 | |||
Chile | 3.62 | |||
Turkey | 3.24 | |||
|
| |||
TOTAL | 77.83 | % | ||
|
|
1 | 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. |
2 | Excludes money market funds. |
3 | Based on country of risk. |
FUND PERFORMANCE OVERVIEWS | 5 |
Table of Contents
Fund Performance Overview
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
Performance as of April 30, 2015
The iShares Emerging Markets High Yield Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, emerging market high yield sovereign and corporate bonds, as represented by the Morningstar® Emerging Markets High Yield Bond IndexSM (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. For the six-month reporting period ended April 30, 2015, the total return for the Fund was -0.46%, net of fees, while the total return for the Index was -0.35%.
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||
NAV | MARKET | INDEX | NAV | MARKET | INDEX | |||||||||||||||||||||
1 Year | 2.19% | 0.90% | 2.64% | 2.19% | 0.90% | 2.64% | ||||||||||||||||||||
Since Inception | 5.15% | 4.91% | 5.67% | 16.70% | 15.90% | 18.50% |
The inception date of the Fund was 4/3/12. The first day of secondary market trading was 4/3/12.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Shareholder Expenses | ||||||||||||||||||||||||||
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Annualized Expense Ratio | ||||||||||||||||||||
$ | 1,000.00 | $ | 995.40 | $ | 2.97 | $ | 1,000.00 | $ | 1,021.80 | $ | 3.01 | 0.60% |
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 (181 days) and divided by the number of days in the year (365 days). See “Shareholder Expenses” on page 10 for more information. |
ALLOCATION BY CREDIT QUALITY
As of 4/30/15
Moody’s Credit Rating1 | Percentage of Total Investments2 | |||
Baa | 27.45 | % | ||
Ba | 40.75 | |||
B | 12.23 | |||
Caa | 6.99 | |||
Ca | 1.16 | |||
Not Rated | 11.42 | |||
|
| |||
TOTAL | 100.00 | % | ||
|
|
TEN LARGEST COUNTRIES3
As of 4/30/15
Country | Percentage of Total Investments2 | |||
Russia | 15.09 | % | ||
Turkey | 12.09 | |||
Brazil | 11.87 | |||
Indonesia | 11.78 | |||
Venezuela | 7.31 | |||
Hungary | 4.03 | |||
China | 3.65 | |||
Mexico | 2.77 | |||
Lebanon | 2.66 | |||
Argentina | 2.65 | |||
|
| |||
TOTAL | 73.90 | % | ||
|
|
1 | 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. |
2 | Excludes money market funds. |
3 | Based on country of risk. |
6 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Fund Performance Overview
iSHARES® EMERGING MARKETS LOCAL CURRENCY BOND ETF
Performance as of April 30, 2015
The iShares Emerging Markets Local Currency Bond ETF (the “Fund”) seeks to track the investment results of an index composed of local currency denominated, emerging market sovereign bonds, as represented by the Barclays Emerging Markets Broad Local Currency Bond Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. For the six-month reporting period ended April 30, 2015, the total return for the Fund was -6.09%, net of fees, while the total return for the Index was -5.98%.
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||
NAV | MARKET | INDEX | NAV | MARKET | INDEX | |||||||||||||||||||||
1 Year | (7.46)% | (7.94)% | (7.11)% | (7.46)% | (7.94)% | (7.11)% | ||||||||||||||||||||
Since Inception | 0.22% | 0.22% | 0.53% | 0.77% | 0.80% | 1.90% |
The inception date of the Fund was 10/18/11. The first day of secondary market trading was 10/20/11.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Shareholder Expenses | ||||||||||||||||||||||||||
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Annualized Expense Ratio | ||||||||||||||||||||
$ | 1,000.00 | $ | 939.10 | $ | 2.40 | $ | 1,000.00 | $ | 1,022.30 | $ | 2.51 | 0.50% |
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 (181 days) and divided by the number of days in the year (365 days). See “Shareholder Expenses” on page 10 for more information. |
ALLOCATION BY CREDIT QUALITY
As of 4/30/15
Moody’s Credit Rating1 | Percentage of Total Investments2 | |||
Aa | 22.15 | % | ||
A | 27.42 | |||
Baa | 42.28 | |||
Ba | 7.89 | |||
Not Rated | 0.26 | |||
|
| |||
TOTAL | 100.00 | % | ||
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|
TEN LARGEST COUNTRIES3
As of 4/30/15
Country | Percentage of Total Investments2 | |||
South Korea | 22.03 | % | ||
Brazil | 13.36 | |||
Mexico | 9.34 | |||
Malaysia | 4.70 | |||
Israel | 4.66 | |||
Turkey | 4.61 | |||
Thailand | 4.57 | |||
South Africa | 4.55 | |||
Indonesia | 4.53 | |||
Poland | 4.50 | |||
|
| |||
TOTAL | 76.85 | % | ||
|
|
1 | 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. |
2 | Excludes money market funds. |
3 | Based on country of risk. |
FUND PERFORMANCE OVERVIEWS | 7 |
Table of Contents
Fund Performance Overview
iSHARES® GLOBAL EX USD HIGH YIELD CORPORATE BOND ETF
Performance as of April 30, 2015
The iShares Global ex USD High Yield Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of euro, British pound sterling and Canadian dollar-denominated, high yield corporate bonds, as represented by the Markit iBoxx Global Developed Markets ex-US High Yield Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. For the six-month reporting period ended April 30, 2015, the total return for the Fund was -7.01%, net of fees, while the total return for the Index was -7.02%.
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||
NAV | MARKET | INDEX | NAV | MARKET | INDEX | |||||||||||||||||||||
1 Year | (15.09)% | (15.55)% | (15.13)% | (15.09)% | (15.55)% | (15.13)% | ||||||||||||||||||||
Since Inception | 3.62% | 3.61% | 3.55% | 11.57% | 11.54% | 11.32% |
The inception date of the Fund was 4/3/12. The first day of secondary market trading was 4/3/12.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Shareholder Expenses | ||||||||||||||||||||||||||
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Annualized Expense Ratio | ||||||||||||||||||||
$ | 1,000.00 | $ | 929.90 | $ | 1.91 | $ | 1,000.00 | $ | 1,022.80 | $ | 2.01 | 0.40% |
a | Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (181 days) and divided by the number of days in the year (365 days). See “Shareholder Expenses” on page 10 for more information. |
ALLOCATION BY CREDIT QUALITY
As of 4/30/15
Moody’s Credit Rating1 | Percentage of Total Investments2 | |||
Ba | 51.52 | % | ||
B | 27.65 | |||
Caa | 5.40 | |||
Not Rated | 15.43 | |||
|
| |||
TOTAL | 100.00 | % | ||
|
|
TEN LARGEST COUNTRIES3
As of 4/30/15
Country | Percentage of Total Investments 2 | |||
Italy | 21.99 | % | ||
United Kingdom | 16.32 | |||
Germany | 14.40 | |||
France | 12.26 | |||
Spain | 5.90 | |||
Luxembourg | 5.08 | |||
United States | 4.30 | |||
Canada | 3.43 | |||
Ireland | 3.26 | |||
Netherlands | 2.44 | |||
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| |||
TOTAL | 89.38 | % | ||
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|
1 | 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. |
2 | Excludes money market funds. |
3 | Based on country of risk. |
8 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Fund Performance Overview
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
Performance as of April 30, 2015
The iShares Global High Yield Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar, euro, British pound sterling and Canadian dollar-denominated, high yield corporate bonds, as represented by the Markit iBoxx Global Developed Markets High Yield Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. For the six-month reporting period ended April 30, 2015, the total return for the Fund was -0.93%, net of fees, while the total return for the Index was -0.98%.
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||
NAV | MARKET | INDEX | NAV | MARKET | INDEX | |||||||||||||||||||||
1 Year | (2.77)% | (1.75)% | (2.73)% | (2.77)% | (1.75)% | (2.73)% | ||||||||||||||||||||
Since Inception | 5.79% | 6.20% | 5.88% | 18.92% | 20.33% | 19.22% |
The inception date of the Fund was 4/3/12. The first day of secondary market trading was 4/5/12.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Shareholder Expenses | ||||||||||||||||||||||||||
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Beginning Account Value (11/1/14) | Ending Account Value (4/30/15) | Expenses Paid During Period a | Annualized Expense Ratio | ||||||||||||||||||||
$ | 1,000.00 | $ | 990.70 | $ | 1.97 | $ | 1,000.00 | $ | 1,022.80 | $ | 2.01 | 0.40% |
a | Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (181 days) and divided by the number of days in the year (365 days). See “Shareholder Expenses” on page 10 for more information. |
ALLOCATION BY CREDIT QUALITY
As of 4/30/15
Moody’s Credit Rating1 | Percentage of Total Investments2 | |||
Baa | 0.53 | % | ||
Ba | 45.35 | |||
B | 41.74 | |||
Caa | 8.63 | |||
Ca | 0.11 | |||
Not Rated | 3.64 | |||
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TOTAL | 100.00 | % | ||
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TEN LARGEST COUNTRIES3
As of 4/30/15
Country | Percentage of Total Investments2 | |||
United States | 63.81 | % | ||
United Kingdom | 6.88 | |||
Italy | 6.50 | |||
Germany | 4.26 | |||
France | 4.07 | |||
Luxembourg | 3.93 | |||
Canada | 3.21 | |||
Spain | 1.56 | |||
Netherlands | 1.39 | |||
Ireland | 0.91 | |||
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TOTAL | 96.52 | % | ||
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1 | 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. |
2 | Excludes money market funds. |
3 Based | on country of risk. |
FUND PERFORMANCE OVERVIEWS | 9 |
Table of Contents
Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at www.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 management fees. Without such 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. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer 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 have traded in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary trading, 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 a 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 on November 1, 2014 and held through April 30, 2015, is intended to help you understand your ongoing costs (in dollars and cents) of investing in a 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 for your Fund under the heading entitled “Expenses Paid During Period.”
Hypothetical Example for Comparison Purposes — The table also provides information about hypothetical account values and hypothetical expenses based on each 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 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.
10 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited)
iSHARES® EMERGING MARKETS CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
CORPORATE BONDS & NOTESa — 93.05% |
| |||||||
ARGENTINA — 0.33% |
| |||||||
YPF SA | ||||||||
8.75%, 04/04/24b | $ | 60 | $ | 62,616 | ||||
8.88%, 12/19/18b | 35 | 36,969 | ||||||
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| |||||||
99,585 | ||||||||
AUSTRIA — 0.69% |
| |||||||
JBS Investments GmbH | ||||||||
7.25%, 04/03/24 (Call 04/03/19)b | 200 | 208,600 | ||||||
|
| |||||||
208,600 | ||||||||
BERMUDA — 2.54% |
| |||||||
CBQ Finance Ltd. | ||||||||
7.50%, 11/18/19b | 200 | 239,240 | ||||||
Digicel Ltd. | ||||||||
6.00%, 04/15/21 (Call 04/15/16)b | 200 | 194,142 | ||||||
Li & Fung Ltd. | ||||||||
5.25%, 05/13/20b | 100 | 110,498 | ||||||
Ooredoo International Finance Ltd. | ||||||||
5.00%, 10/19/25b | 200 | 222,400 | ||||||
|
| |||||||
766,280 | ||||||||
BRAZIL — 5.33% |
| |||||||
Banco Bradesco SA/Cayman Islands | ||||||||
5.90%, 01/16/21b | 100 | 107,250 | ||||||
6.75%, 09/29/19b | 100 | 113,000 | ||||||
Banco BTG Pactual SA/Cayman Islands | ||||||||
4.00%, 01/16/20b | 200 | 184,600 | ||||||
Banco do Brasil SA | ||||||||
5.88%, 01/19/23b | 200 | 202,940 | ||||||
Banco Votorantim SA | ||||||||
7.38%, 01/21/20b | 100 | 107,000 | ||||||
Caixa Economica Federal | ||||||||
2.38%, 11/06/17b | 150 | 144,757 | ||||||
Centrais Eletricas Brasileiras SA | ||||||||
6.88%, 07/30/19b | 100 | 97,970 | ||||||
Itau Unibanco Holding SA/Cayman Island | ||||||||
5.13%, 05/13/23b | 200 | 203,400 | ||||||
6.20%, 04/15/20b | 100 | 108,700 | ||||||
Samarco Mineracao SA | ||||||||
4.13%, 11/01/22b | 200 | 186,000 |
Security | Principal (000s) | Value | ||||||
Telemar Norte Leste SA | ||||||||
5.50%, 10/23/20b | $ | 100 | $ | 88,750 | ||||
Vale SA | ||||||||
5.63%, 09/11/42c | 75 | 66,883 | ||||||
|
| |||||||
1,611,250 | ||||||||
BRITISH VIRGIN ISLANDS — 4.70% |
| |||||||
CNOOC Finance 2012 Ltd. | ||||||||
5.00%, 05/02/42b | 200 | 216,499 | ||||||
CNPC General Capital Ltd. | ||||||||
3.40%, 04/16/23b | 200 | 201,144 | ||||||
Gerdau Trade Inc. | ||||||||
5.75%, 01/30/21b | 100 | 104,250 | ||||||
GTL Trade Finance Inc. | ||||||||
5.89%, 04/29/24 (Call 01/29/24)b | 150 | 151,875 | ||||||
Huarong Finance II Co. Ltd. | ||||||||
4.50%, 01/16/20b | 200 | 208,793 | ||||||
Sinochem Overseas Capital Co. Ltd. | ||||||||
4.50%, 11/12/20b | 100 | 107,724 | ||||||
Sinopec Group Overseas Development 2013 Ltd. | ||||||||
4.38%, 10/17/23b | 200 | 214,950 | ||||||
State Grid Overseas Investment 2014 Ltd. | ||||||||
4.13%, 05/07/24b | 200 | 215,905 | ||||||
|
| |||||||
1,421,140 | ||||||||
CANADA — 0.49% |
| |||||||
Pacific Rubiales Energy Corp. | ||||||||
5.13%, 03/28/23 (Call 03/28/18)b | 100 | 70,750 | ||||||
5.38%, 01/26/19 (Call 01/26/17)b | 100 | 78,270 | ||||||
|
| |||||||
149,020 | ||||||||
CAYMAN ISLANDS — 13.32% |
| |||||||
ADCB Finance Cayman Ltd. | ||||||||
2.50%, 03/06/18b | 200 | 202,000 | ||||||
Agile Property Holdings Ltd. | ||||||||
8.88%, 04/28/17 (Call 06/01/15)b | 100 | 101,948 | ||||||
Alibaba Group Holding Ltd. | ||||||||
3.13%, 11/28/21 (Call 09/28/21)b | 200 | 199,992 | ||||||
3.60%, 11/28/24 (Call 08/28/24)b | 200 | 199,102 | ||||||
Baidu Inc. | ||||||||
2.25%, 11/28/17 | 200 | 201,746 | ||||||
Braskem Finance Ltd. | ||||||||
5.75%, 04/15/21b,c | 200 | 200,440 |
SCHEDULESOF INVESTMENTS | 11 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
Evergrande Real Estate Group Ltd. | ||||||||
8.75%, 10/30/18 (Call 10/30/16)b | $ | 200 | $ | 184,500 | ||||
Fibria Overseas Finance Ltd. | ||||||||
5.25%, 05/12/24 | 100 | 103,250 | ||||||
Hutchison Whampoa International 14 Ltd. | ||||||||
3.63%, 10/31/24b | 200 | 203,445 | ||||||
Hutchison Whampoa International Ltd. | ||||||||
4.63%, 01/13/22b | 200 | 219,956 | ||||||
7.63%, 04/09/19b | 100 | 119,899 | ||||||
Marfrig Overseas Ltd. | ||||||||
9.50%, 05/04/20 (Call 06/01/15)b | 100 | 97,750 | ||||||
Odebrecht Drilling Norbe VIII/IX Ltd. | ||||||||
6.35%, 06/30/21 (Call 06/30/20)b | 172 | 159,767 | ||||||
Petrobras Global Finance BV | ||||||||
5.38%, 01/27/21 | 200 | 191,960 | ||||||
5.75%, 01/20/20 | 100 | 99,750 | ||||||
6.13%, 10/06/16 | 100 | 102,690 | ||||||
6.88%, 01/20/40 | 75 | 70,561 | ||||||
7.88%, 03/15/19 | 100 | 108,551 | ||||||
Petrobras International Finance Co. SA | ||||||||
3.50%, 02/06/17 | 75 | 74,062 | ||||||
QNB Finance Ltd. | ||||||||
2.13%, 02/14/18b | 200 | 201,016 | ||||||
Shimao Property Holdings Ltd. | ||||||||
6.63%, 01/14/20 (Call 01/14/17)b | 200 | 203,000 | ||||||
Swire Pacific MTN Financing Ltd. | ||||||||
5.50%, 08/19/19b | 100 | 112,529 | ||||||
Tencent Holdings Ltd. | ||||||||
3.38%, 05/02/19b | 200 | 205,820 | ||||||
Vale Overseas Ltd. | ||||||||
4.38%, 01/11/22c | 125 | 120,707 | ||||||
4.63%, 09/15/20c | 75 | 76,808 | ||||||
6.25%, 01/23/17 | 50 | 53,236 | ||||||
6.88%, 11/21/36 | 100 | 100,950 | ||||||
6.88%, 11/10/39c | 80 | 79,920 | ||||||
8.25%, 01/17/34 | 25 | 28,632 | ||||||
|
| |||||||
4,023,987 | ||||||||
CHILE — 3.51% |
| |||||||
Banco del Estado de Chile | ||||||||
4.13%, 10/07/20b | 150 | 159,137 | ||||||
Celulosa Arauco y Constitucion SA | ||||||||
4.75%, 01/11/22 (Call 10/11/21) | 37 | 39,056 |
Security | Principal (000s) | Value | ||||||
Cencosud SA | ||||||||
5.50%, 01/20/21b | $ | 150 | $ | 160,167 | ||||
Corp. Nacional del Cobre de Chile | ||||||||
3.00%, 07/17/22b | 200 | 197,239 | ||||||
4.25%, 07/17/42b | 200 | 189,464 | ||||||
Empresa Nacional del Petroleo | ||||||||
4.75%, 12/06/21b | 100 | 105,017 | ||||||
ENTEL Chile SA | ||||||||
4.88%, 10/30/24b | 200 | 211,884 | ||||||
|
| |||||||
1,061,964 | ||||||||
CHINA — 1.38% |
| |||||||
Bank of China Ltd. | ||||||||
5.00%, 11/13/24b | 200 | 209,943 | ||||||
Bank of Communications Co. Ltd. | ||||||||
4.50%, 10/03/24 (Call 10/03/19)b,d | 200 | 206,200 | ||||||
|
| |||||||
416,143 | ||||||||
COLOMBIA — 2.00% |
| |||||||
Bancolombia SA | ||||||||
5.13%, 09/11/22 | 50 | 51,025 | ||||||
6.13%, 07/26/20c | 75 | 80,362 | ||||||
Ecopetrol SA | ||||||||
5.88%, 09/18/23c | 100 | 108,625 | ||||||
5.88%, 05/28/45 | 50 | 47,938 | ||||||
7.38%, 09/18/43 | 50 | 56,209 | ||||||
7.63%, 07/23/19 | 50 | 59,395 | ||||||
Grupo Aval Ltd. | ||||||||
4.75%, 09/26/22b | 200 | 200,500 | ||||||
|
| |||||||
604,054 | ||||||||
HONG KONG — 1.46% |
| |||||||
Bank of China Hong Kong Ltd. | ||||||||
5.55%, 02/11/20b | 100 | 111,371 | ||||||
Bank of East Asia Ltd. (The) | ||||||||
6.38%, 05/04/22 (Call 05/04/17)b,d | 200 | 213,320 | ||||||
CITIC Ltd. | ||||||||
6.63%, 04/15/21b | 100 | 116,322 | ||||||
|
| |||||||
441,013 | ||||||||
INDIA — 3.14% |
| |||||||
Axis Bank Ltd./Dubai | ||||||||
4.75%, 05/02/16b | 100 | 102,794 | ||||||
Bharti Airtel International Netherlands BV | ||||||||
5.13%, 03/11/23b | 200 | 216,700 |
12 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
Export-Import Bank of India | ||||||||
4.00%, 01/14/23b | $ | 200 | $ | 204,605 | ||||
ICICI Bank Ltd. | ||||||||
6.38%, 04/30/22 (Call 04/30/17)b,d | 100 | 104,250 | ||||||
ICICI Bank Ltd./Hong Kong | ||||||||
5.75%, 11/16/20b | 100 | 113,195 | ||||||
State Bank of India/London | ||||||||
3.62%, 04/17/19b | 200 | 207,071 | ||||||
|
| |||||||
948,615 | ||||||||
INDONESIA — 1.30% |
| |||||||
Pertamina Persero PT | ||||||||
4.30%, 05/20/23b | 200 | 198,500 | ||||||
5.63%, 05/20/43b | 200 | 193,260 | ||||||
|
| |||||||
391,760 | ||||||||
IRELAND — 2.28% |
| |||||||
AK Transneft OJSC Via TransCapitalInvest Ltd. | ||||||||
8.70%, 08/07/18b | 100 | 108,375 | ||||||
Alfa Bank OJSC Via Alfa Bond Issuance PLC | ||||||||
7.88%, 09/25/17b | 100 | 103,250 | ||||||
Metalloinvest Finance Ltd. | ||||||||
5.63%, 04/17/20b | 200 | 181,378 | ||||||
Mobile Telesystems OJSC via MTS International Funding Ltd. | ||||||||
8.63%, 06/22/20b | 100 | 108,624 | ||||||
Vnesheconombank Via VEB Finance PLC | ||||||||
6.80%, 11/22/25b | 100 | 92,500 | ||||||
6.90%, 07/09/20b | 100 | 95,750 | ||||||
|
| |||||||
689,877 | ||||||||
ISLE OF MAN — 0.32% |
| |||||||
AngloGold Ashanti Holdings PLC | ||||||||
5.13%, 08/01/22 | 100 | 96,385 | ||||||
|
| |||||||
96,385 | ||||||||
ISRAEL — 0.78% |
| |||||||
Israel Electric Corp. Ltd. | ||||||||
6.88%, 06/21/23b | 200 | 236,190 | ||||||
|
| |||||||
236,190 | ||||||||
KAZAKHSTAN — 1.85% |
| |||||||
Development Bank of Kazakhstan JSC | ||||||||
4.13%, 12/10/22b | 200 | 184,580 |
Security | Principal (000s) | Value | ||||||
Kazkommertsbank JSC | ||||||||
5.50%, 12/21/22b | $ | 100 | $ | 75,424 | ||||
KazMunayGas National Co. JSC | ||||||||
4.40%, 04/30/23b | 200 | 189,500 | ||||||
7.00%, 05/05/20b | 100 | 108,900 | ||||||
|
| |||||||
558,404 | ||||||||
LUXEMBOURG — 6.83% |
| |||||||
ALROSA Finance SA | ||||||||
7.75%, 11/03/20b | 200 | 206,500 | ||||||
Consolidated Energy Finance SA | ||||||||
6.75%, 10/15/19 (Call 10/15/16)b | 200 | 204,000 | ||||||
CSN Resources SA | ||||||||
6.50%, 07/21/20b | 100 | 92,000 | ||||||
Evraz Group SA | ||||||||
9.50%, 04/24/18b | 100 | 102,250 | ||||||
Gazprom OAO Via Gaz Capital SA | ||||||||
4.95%, 02/06/28b | 200 | 174,429 | ||||||
7.29%, 08/16/37b | 100 | 101,650 | ||||||
9.25%, 04/23/19b | 100 | 110,950 | ||||||
Petrobras International Finance Co. SA | ||||||||
5.88%, 03/01/18 | 100 | 102,240 | ||||||
6.75%, 01/27/41 | 75 | 69,183 | ||||||
Puma International Financing SA | ||||||||
6.75%, 02/01/21 (Call 02/01/17)b | 200 | 208,000 | ||||||
Rosneft Finance SA | ||||||||
7.25%, 02/02/20b | 100 | 99,000 | ||||||
Russian Agricultural Bank OJSC Via RSHB Capital SA | ||||||||
6.30%, 05/15/17b | 100 | 98,623 | ||||||
Sberbank of Russia Via SB Capital SA | ||||||||
6.13%, 02/07/22b | 200 | 193,400 | ||||||
Severstal OAO Via Steel Capital SA | ||||||||
6.70%, 10/25/17b | 100 | 102,625 | ||||||
VTB Bank OJSC Via VTB Capital SA | ||||||||
6.25%, 06/30/35b | 100 | 100,230 | ||||||
6.55%, 10/13/20b | 100 | 97,500 | ||||||
|
| |||||||
2,062,580 | ||||||||
MALAYSIA — 0.83% |
| |||||||
Petroliam Nasional Bhd | ||||||||
7.63%, 10/15/26b | 100 | 137,526 | ||||||
Petronas Capital Ltd. | ||||||||
5.25%, 08/12/19b | 100 | 111,700 | ||||||
|
| |||||||
249,226 |
SCHEDULESOF INVESTMENTS | 13 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
MEXICO — 9.57% |
| |||||||
America Movil SAB de CV | ||||||||
5.00%, 10/16/19 | $ | 125 | $ | 140,012 | ||||
5.00%, 03/30/20 | 100 | 112,600 | ||||||
6.13%, 03/30/40 | 100 | 122,430 | ||||||
6.38%, 03/01/35 | 100 | 123,076 | ||||||
Banco Santander Mexico SA | ||||||||
5.95%, 01/30/24 (Call 01/30/19)b,d | 200 | 212,250 | ||||||
BBVA Bancomer SA/Texas | ||||||||
6.75%, 09/30/22b | 150 | 170,437 | ||||||
Coca-Cola FEMSA SAB de CV | ||||||||
3.88%, 11/26/23 | 150 | 159,955 | ||||||
Comision Federal de Electricidad | ||||||||
4.88%, 01/15/24b | 200 | 215,400 | ||||||
Fomento Economico Mexicano SAB de CV | ||||||||
4.38%, 05/10/43c | 150 | 144,186 | ||||||
Grupo Bimbo SAB de CV | ||||||||
4.50%, 01/25/22b | 100 | 107,000 | ||||||
Grupo Televisa SAB | ||||||||
6.63%, 01/15/40 | 56 | 67,945 | ||||||
Petroleos Mexicanos | ||||||||
3.50%, 07/18/18 | 100 | 103,125 | ||||||
3.50%, 01/30/23 | 75 | 72,469 | ||||||
4.88%, 01/24/22 | 75 | 79,313 | ||||||
4.88%, 01/18/24 | 40 | 42,192 | ||||||
5.50%, 01/21/21 | 225 | 246,937 | ||||||
5.50%, 06/27/44c | 190 | 187,435 | ||||||
5.75%, 03/01/18 | 100 | 109,257 | ||||||
6.38%, 01/23/45 | 150 | 165,150 | ||||||
6.50%, 06/02/41 | 90 | 99,338 | ||||||
6.63%, 06/15/35 | 100 | 112,700 | ||||||
6.63%, 06/15/38 | 25 | 27,813 | ||||||
8.00%, 05/03/19 | 60 | 71,760 | ||||||
|
| |||||||
2,892,780 | ||||||||
MOROCCO — 0.71% |
| |||||||
OCP SA | ||||||||
5.63%, 04/25/24b | 200 | 213,540 | ||||||
|
| |||||||
213,540 | ||||||||
NETHERLANDS — 4.35% |
| |||||||
LUKOIL International Finance BV | ||||||||
6.66%, 06/07/22b | 120 | 123,420 | ||||||
7.25%, 11/05/19b | 100 | 104,910 |
Security | Principal (000s) | Value | ||||||
Majapahit Holding BV | ||||||||
7.75%, 01/20/20b | $ | 120 | $ | 140,870 | ||||
7.88%, 06/29/37b | 125 | 159,531 | ||||||
Petrobras Global Finance BV | ||||||||
3.00%, 01/15/19 | 50 | 46,700 | ||||||
3.25%, 03/17/17 | 105 | 103,046 | ||||||
4.38%, 05/20/23 | 100 | 88,933 | ||||||
4.88%, 03/17/20 | 95 | 91,531 | ||||||
5.63%, 05/20/43 | 100 | 82,600 | ||||||
6.25%, 03/17/24c | 50 | 49,680 | ||||||
6.25%, 03/17/24 | 75 | 74,520 | ||||||
7.25%, 03/17/44 | 50 | 49,113 | ||||||
VimpelCom Holdings BV | ||||||||
7.50%, 03/01/22b | 200 | 198,000 | ||||||
|
| |||||||
1,312,854 | ||||||||
PERU — 0.72% |
| |||||||
Banco de Credito del Peru/Panama | ||||||||
5.38%, 09/16/20b | 100 | 111,000 | ||||||
BBVA Banco Continental SA | ||||||||
5.00%, 08/26/22b | 100 | 107,250 | ||||||
|
| |||||||
218,250 | ||||||||
PHILIPPINES — 0.45% |
| |||||||
Power Sector Assets & Liabilities Management Corp. | ||||||||
7.39%, 12/02/24b | 100 | 134,750 | ||||||
|
| |||||||
134,750 | ||||||||
QATAR — 0.37% |
| |||||||
Qatari Diar Finance QSC | ||||||||
5.00%, 07/21/20b | 100 | 112,984 | ||||||
|
| |||||||
112,984 | ||||||||
RUSSIA — 1.17% |
| |||||||
Gazprom OAO Via Gaz Capital SA | ||||||||
6.21%, 11/22/16b | 100 | 102,346 | ||||||
Russian Railways via RZD Capital PLC | ||||||||
5.74%, 04/03/17b | 100 | 100,075 | ||||||
VTB Bank OJSC Via VTB Capital SA | ||||||||
6.88%, 05/29/18b | 150 | 150,375 | ||||||
|
| |||||||
352,796 | ||||||||
SINGAPORE — 2.41% |
| |||||||
ABJA Investment Co. Pte Ltd. | ||||||||
4.85%, 01/31/20b | 200 | 203,700 | ||||||
DBS Bank Ltd. | ||||||||
3.63%, 09/21/22 (Call 09/21/17)b,d | 200 | 207,277 |
14 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
Flextronics International Ltd. | ||||||||
4.63%, 02/15/20 | $ | 100 | $ | 104,500 | ||||
Oversea-Chinese Banking Corp. Ltd. | ||||||||
3.75%, 11/15/22 (Call 11/15/17)b,d | 100 | 103,680 | ||||||
PSA International Pte Ltd. | ||||||||
3.88%, 02/11/21b | 100 | 108,018 | ||||||
|
| |||||||
727,175 | ||||||||
SOUTH AFRICA — 0.66% |
| |||||||
Eskom Holdings SOC Ltd. | ||||||||
5.75%, 01/26/21b | 200 | 199,200 | ||||||
|
| |||||||
199,200 | ||||||||
SOUTH KOREA — 5.54% |
| |||||||
Hana Bank | ||||||||
3.50%, 10/25/17b | 200 | 208,191 | ||||||
Korea Development Bank (The) | ||||||||
3.25%, 09/20/16 | 100 | 102,886 | ||||||
3.75%, 01/22/24 | 200 | 214,729 | ||||||
3.88%, 05/04/17 | 200 | 209,022 | ||||||
Korea East-West Power Co. Ltd. | ||||||||
2.63%, 11/27/18b | 200 | 204,621 | ||||||
Korea Gas Corp. | ||||||||
4.25%, 11/02/20b | 100 | 109,289 | ||||||
Korea Hydro & Nuclear Power Co. Ltd. | ||||||||
3.00%, 09/19/22b | 200 | 204,154 | ||||||
Korea National Oil Corp. | ||||||||
2.75%, 01/23/19b | 200 | 204,570 | ||||||
POSCO | ||||||||
4.25%, 10/28/20b | 100 | 108,505 | ||||||
Woori Bank Co. Ltd. | ||||||||
6.21%, 05/02/37 (Call 05/02/17)b,d | 100 | 106,674 | ||||||
|
| |||||||
1,672,641 | ||||||||
THAILAND — 1.02% |
| |||||||
Bangkok Bank PCL/Hong Kong | ||||||||
4.80%, 10/18/20b | 100 | 110,357 | ||||||
PTT PCL | ||||||||
3.38%, 10/25/22b | 200 | 198,681 | ||||||
|
| |||||||
309,038 | ||||||||
TURKEY — 3.14% |
| |||||||
Akbank TAS | ||||||||
5.00%, 10/24/22b | 150 | 149,550 | ||||||
Turkiye Garanti Bankasi AS | ||||||||
5.25%, 09/13/22b | 200 | 202,840 |
Security | Principal (000s) | Value | ||||||
Turkiye Is Bankasi | ||||||||
3.88%, 11/07/17b | $ | 200 | $ | 201,700 | ||||
Turkiye Vakiflar Bankasi TAO | ||||||||
5.00%, 10/31/18b | 200 | 203,212 | ||||||
Yapi ve Kredi Bankasi AS | ||||||||
4.00%, 01/22/20b | 200 | 192,700 | ||||||
|
| |||||||
950,002 | ||||||||
UNITED ARAB EMIRATES — 2.48% |
| |||||||
Abu Dhabi National Energy Co. | ||||||||
5.88%, 10/27/16b | 100 | 106,700 | ||||||
6.50%, 10/27/36b | 100 | 126,375 | ||||||
Dolphin Energy Ltd. | ||||||||
5.89%, 06/15/19b | 67 | 73,881 | ||||||
DP World Ltd. | ||||||||
6.85%, 07/02/37b | 100 | 112,476 | ||||||
Dubai Electricity & Water Authority | ||||||||
7.38%, 10/21/20b | 100 | 122,575 | ||||||
Emirates NBD PJSC | ||||||||
4.63%, 03/28/17b | 200 | 208,750 | ||||||
|
| |||||||
750,757 | ||||||||
UNITED KINGDOM — 1.06% |
| |||||||
ICBC Standard Bank PLC | ||||||||
8.13%, 12/02/19b | 100 | 114,150 | ||||||
Vedanta Resources PLC | ||||||||
9.50%, 07/18/18b | 200 | 207,500 | ||||||
|
| |||||||
321,650 | ||||||||
UNITED STATES — 3.91% |
| |||||||
Cemex Finance LLC | ||||||||
6.00%, 04/01/24 (Call 04/01/19)b | 200 | 205,120 | ||||||
9.38%, 10/12/22 (Call 10/12/17)b | 200 | 227,700 | ||||||
Hyundai Capital America | ||||||||
2.13%, 10/02/17b | 50 | 50,431 | ||||||
2.55%, 02/06/19b | 100 | 101,460 | ||||||
Reliance Holdings USA Inc. | ||||||||
5.40%, 02/14/22b | 250 | 275,628 | ||||||
Southern Copper Corp. | ||||||||
5.88%, 04/23/45 | 100 | 98,330 | ||||||
6.75%, 04/16/40 | 100 | 108,000 | ||||||
7.50%, 07/27/35 | 100 | 114,850 | ||||||
|
| |||||||
1,181,519 |
SCHEDULESOF INVESTMENTS | 15 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
VENEZUELA — 2.41% |
| |||||||
Petroleos de Venezuela SA | ||||||||
Series 2016 | ||||||||
5.13%, 10/28/16 | $ | 70 | $ | 51,450 | ||||
5.25%, 04/12/17b | 100 | 58,490 | ||||||
5.38%, 04/12/27b | 135 | 54,999 | ||||||
5.50%, 04/12/37b | 50 | 20,250 | ||||||
6.00%, 05/16/24b,c | 250 | 105,625 | ||||||
6.00%, 11/15/26b | 120 | 49,800 | ||||||
8.50%, 11/02/17b | 245 | 189,507 | ||||||
9.00%, 11/17/21b | 75 | 36,555 | ||||||
9.75%, 05/17/35b | 150 | 73,185 | ||||||
12.75%, 02/17/22b | 150 | 88,125 | ||||||
|
| |||||||
727,986 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS & NOTES |
| |||||||
(Cost: $28,358,255) |
| 28,113,995 | ||||||
FOREIGN GOVERNMENT OBLIGATIONSa — 4.08% |
| |||||||
BRAZIL — 1.07% |
| |||||||
Banco Nacional de Desenvolvimento Economico e Social | ||||||||
5.50%, 07/12/20b | 100 | 105,625 | ||||||
6.37%, 06/16/18b | 100 | 107,500 | ||||||
6.50%, 06/10/19b | 100 | 109,250 | ||||||
|
| |||||||
322,375 | ||||||||
CAYMAN ISLANDS — 0.93% |
| |||||||
International Petroleum Investment Co. | ||||||||
5.00%, 11/15/20b | 250 | 281,563 | ||||||
|
| |||||||
281,563 | ||||||||
SOUTH KOREA — 2.08% |
| |||||||
Export-Import Bank of Korea | ||||||||
2.88%, 01/21/25 | 200 | 199,308 | ||||||
4.00%, 01/11/17 | 200 | 208,914 | ||||||
4.38%, 09/15/21 | 200 | 221,541 | ||||||
|
| |||||||
629,763 | ||||||||
|
| |||||||
TOTAL FOREIGN GOVERNMENT OBLIGATIONS |
| |||||||
(Cost: $1,207,956) |
| 1,233,701 |
Security | Shares (000s) | Value | ||||||
SHORT-TERM INVESTMENTS — 5.10% |
| |||||||
MONEY MARKET FUNDS — 5.10% |
| |||||||
BlackRock Cash Funds: Institutional, |
| |||||||
0.17%e,f,g | 955 | $ | 955,183 | |||||
BlackRock Cash Funds: Prime, |
| |||||||
0.17%e,f,g | 137 | 137,087 | ||||||
BlackRock Cash Funds: Treasury, |
| |||||||
0.00%e,f | 450 | 449,646 | ||||||
|
| |||||||
1,541,916 | ||||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| |||||||
(Cost: $1,541,916) |
| 1,541,916 | ||||||
|
| |||||||
TOTAL INVESTMENTS |
| |||||||
(Cost: $31,108,127) |
| 30,889,612 | ||||||
Other Assets, Less Liabilities — (2.23)% |
| (675,011 | ) | |||||
|
| |||||||
NET ASSETS — 100.00% | $ | 30,214,601 | ||||||
|
|
a | Investments are denominated in U.S. dollars. |
b | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
c | All or a portion of this security represents a security on loan. See Note 1. |
d | Variable rate security. Rate shown is as of report date. |
e | Affiliated issuer. See Note 2. |
f | The rate quoted is the annualized seven-day yield of the fund at period end. |
g | All or a portion of this security represents an investment of securities lending collateral. See Note 1. |
See notes to financial statements.
16 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
CORPORATE BONDS & NOTESa — 45.05% |
| |||||||
ARGENTINA — 0.49% |
| |||||||
YPF SA | ||||||||
8.75%, 04/04/24b | $ | 465 | $ | 485,274 | ||||
8.88%, 12/19/18b | 300 | 316,875 | ||||||
|
| |||||||
802,149 | ||||||||
AUSTRIA — 0.40% |
| |||||||
JBS Investments GmbH | ||||||||
7.25%, 04/03/24 (Call 04/03/19)b | 200 | 208,600 | ||||||
7.75%, 10/28/20 (Call 10/28/17)b | 400 | 433,600 | ||||||
|
| |||||||
642,200 | ||||||||
BARBADOS — 0.40% |
| |||||||
Columbus International Inc. | ||||||||
7.38%, 03/30/21 (Call 03/30/18)b | 600 | 653,250 | ||||||
|
| |||||||
653,250 | ||||||||
BERMUDA — 1.16% |
| |||||||
Digicel Group Ltd. | ||||||||
7.13%, 04/01/22 (Call 04/01/17)b | 400 | 378,750 | ||||||
8.25%, 09/30/20 (Call 09/30/16)b | 700 | 721,980 | ||||||
Digicel Ltd. | ||||||||
6.00%, 04/15/21 (Call 04/15/16)b | 600 | 582,426 | ||||||
6.75%, 03/01/23 (Call 03/01/18)b | 200 | 197,100 | ||||||
|
| |||||||
1,880,256 | ||||||||
BRAZIL — 1.63% |
| |||||||
Banco BTG Pactual SA/Cayman Islands | ||||||||
5.75%, 09/28/22b | 300 | 274,500 | ||||||
Banco do Brasil SA | ||||||||
5.88%, 01/19/23b | 200 | 202,940 | ||||||
Caixa Economica Federal | ||||||||
7.25%, 07/23/24 (Call 07/23/19)b,c | 200 | 198,200 | ||||||
Centrais Eletricas Brasileiras SA | ||||||||
5.75%, 10/27/21b | 800 | 744,000 | ||||||
6.88%, 07/30/19b | 200 | 195,940 | ||||||
Oi SA | ||||||||
5.75%, 02/10/22b | 600 | 502,500 | ||||||
Telemar Norte Leste SA | ||||||||
5.50%, 10/23/20b | 600 | 532,500 | ||||||
|
| |||||||
2,650,580 |
Security | Principal (000s) | Value | ||||||
BRITISH VIRGIN ISLANDS — 0.46% |
| |||||||
Gold Fields Orogen Holding BVI Ltd. | ||||||||
4.88%, 10/07/20b | $ | 400 | $ | 361,000 | ||||
Trillion Chance Ltd. | ||||||||
8.50%, 01/10/19 (Call 01/10/17)b | 400 | 384,029 | ||||||
|
| |||||||
745,029 | ||||||||
CANADA — 0.69% |
| |||||||
Pacific Rubiales Energy Corp. | ||||||||
5.13%, 03/28/23 (Call 03/28/18)b | 300 | 212,250 | ||||||
5.38%, 01/26/19 (Call 01/26/17)b | 500 | 391,350 | ||||||
5.63%, 01/19/25 (Call 01/19/20)b | 500 | 350,000 | ||||||
7.25%, 12/12/21 (Call 12/12/16)b | 200 | 158,000 | ||||||
|
| |||||||
1,111,600 | ||||||||
CAYMAN ISLANDS — 8.15% |
| |||||||
Agile Property Holdings Ltd. | ||||||||
8.38%, 02/18/19 (Call 02/18/17)b | 200 | 195,844 | ||||||
8.88%, 04/28/17 (Call 06/01/15)b | 270 | 275,260 | ||||||
9.88%, 03/20/17b | 200 | 208,000 | ||||||
Country Garden Holdings Co. Ltd. | ||||||||
7.25%, 04/04/21 (Call 10/04/17)b | 200 | 206,500 | ||||||
7.50%, 01/10/23 (Call 01/10/18)b | 500 | 511,250 | ||||||
7.88%, 05/27/19 (Call 05/27/17)b | 200 | 213,250 | ||||||
Evergrande Real Estate Group Ltd. | ||||||||
8.75%, 10/30/18 (Call 10/30/16)b | 500 | 461,250 | ||||||
12.00%, 02/17/20 (Call 02/17/18)b | 400 | 400,200 | ||||||
Fibria Overseas Finance Ltd. | ||||||||
5.25%, 05/12/24 | 250 | 258,125 | ||||||
Global A&T Electronics Ltd. | ||||||||
10.00%, 02/01/19 (Call 02/01/16)b | 200 | 192,000 | ||||||
Greenland Hong Kong Holdings Ltd. | ||||||||
4.75%, 10/18/16b | 600 | 607,500 | ||||||
Greentown China Holdings Ltd. | ||||||||
8.50%, 02/04/18 (Call 02/04/16)b | 400 | 416,000 | ||||||
Kaisa Group Holdings Ltd. | ||||||||
10.25%, 01/08/20 (Call 01/08/17)b,e | 200 | 112,000 | ||||||
KWG Property Holding Ltd. | ||||||||
8.98%, 01/14/19 (Call 01/14/17)b | 200 | 199,000 | ||||||
Marfrig Overseas Ltd. | ||||||||
9.50%, 05/04/20 (Call 06/01/15)b | 285 | 278,588 | ||||||
MCE Finance Ltd. | ||||||||
5.00%, 02/15/21 (Call 02/15/16)b | 400 | 380,000 | ||||||
Odebrecht Drilling Norbe VIII/IX Ltd. | ||||||||
6.35%, 06/30/21 (Call 06/30/20)b | 425 | 395,462 |
SCHEDULESOF INVESTMENTS | 17 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
Odebrecht Offshore Drilling Finance Ltd. | ||||||||
6.75%, 10/01/23 (Call 12/01/21)b | $ | 744 | $ | 641,992 | ||||
Petrobras Global Finance BV | ||||||||
5.38%, 01/27/21 | 2,600 | 2,495,480 | ||||||
5.75%, 01/20/20 | 700 | 698,250 | ||||||
7.88%, 03/15/19 | 1,450 | 1,573,989 | ||||||
Petrobras International Finance Co. SA | ||||||||
3.50%, 02/06/17 | 1,100 | 1,086,239 | ||||||
Shimao Property Holdings Ltd. | ||||||||
6.63%, 01/14/20 (Call 01/14/17)b | 600 | 609,000 | ||||||
8.13%, 01/22/21 (Call 01/22/18)b | 200 | 209,000 | ||||||
8.38%, 02/10/22 (Call 02/10/19)b | 200 | 207,500 | ||||||
SOHO China Ltd. | ||||||||
5.75%, 11/07/17 (Call 11/07/15)b | 200 | 206,500 | ||||||
Sunac China Holdings Ltd. | ||||||||
9.38%, 04/05/18 (Call 04/05/16)b | 200 | 202,500 | ||||||
|
| |||||||
13,240,679 | ||||||||
COLOMBIA — 0.71% |
| |||||||
Banco Davivienda SA | ||||||||
5.88%, 07/09/22b | 200 | 206,500 | ||||||
Bancolombia SA | ||||||||
5.13%, 09/11/22 | 500 | 510,250 | ||||||
6.13%, 07/26/20 | 400 | 428,600 | ||||||
|
| |||||||
1,145,350 | ||||||||
HONG KONG — 0.32% |
| |||||||
China CITIC Bank International Ltd. | ||||||||
6.88%, 06/24/20b | 300 | 337,020 | ||||||
Yancoal International Resources Development Co. Ltd. | ||||||||
5.73%, 05/16/22b | 200 | 182,886 | ||||||
|
| |||||||
519,906 | ||||||||
INDIA — 0.43% |
| |||||||
ICICI Bank Ltd. | ||||||||
6.38%, 04/30/22 (Call 04/30/17)b,c | 277 | 288,773 | ||||||
IDBI Bank Ltd. | ||||||||
3.75%, 01/25/19b | 200 | 200,579 | ||||||
IDBI Bank Ltd./DIFC Dubai | ||||||||
4.38%, 03/26/18b | 200 | 206,635 | ||||||
|
| |||||||
695,987 |
Security | Principal (000s) | Value | ||||||
INDONESIA — 2.89% |
| |||||||
Pertamina Persero PT | ||||||||
4.30%, 05/20/23b | $ | 900 | $ | 893,250 | ||||
4.88%, 05/03/22b | 200 | 207,030 | ||||||
5.25%, 05/23/21b | 400 | 426,500 | ||||||
5.63%, 05/20/43b | 600 | 579,780 | ||||||
6.00%, 05/03/42b | 600 | 602,250 | ||||||
6.45%, 05/30/44b | 400 | 427,000 | ||||||
6.50%, 05/27/41b | 200 | 214,000 | ||||||
Perusahaan Gas Negara Persero Tbk PT | ||||||||
5.13%, 05/16/24b | 600 | 628,014 | ||||||
Perusahaan Listrik Negara PT | ||||||||
5.25%, 10/24/42b | 300 | 283,500 | ||||||
5.50%, 11/22/21b | 400 | 434,000 | ||||||
|
| |||||||
4,695,324 | ||||||||
IRELAND — 2.53% |
| |||||||
Alfa Bank OJSC Via Alfa Bond Issuance PLC | ||||||||
7.50%, 09/26/19b | 400 | 385,000 | ||||||
7.75%, 04/28/21b | 300 | 296,475 | ||||||
7.88%, 09/25/17b | 400 | 413,000 | ||||||
Bank Otkritie Financial Corp OJSC via OFCB Capital PLC | ||||||||
7.25%, 04/25/18b | 200 | 195,750 | ||||||
Credit Bank of Moscow Via CBOM Finance PLC | ||||||||
7.70%, 02/01/18b | 200 | 196,064 | ||||||
Gazprombank OAO Via GPB Eurobond Finance PLC | ||||||||
7.50%, 12/28/23 (Call 12/28/18)b,c | 200 | 175,500 | ||||||
Metalloinvest Finance Ltd. | ||||||||
5.63%, 04/17/20b | 400 | 362,755 | ||||||
6.50%, 07/21/16b | 200 | 200,000 | ||||||
MMC Norilsk Nickel OJSC via MMC Finance Ltd. | ||||||||
5.55%, 10/28/20b | 200 | 196,512 | ||||||
Mobile Telesystems OJSC via MTS International Funding Ltd. | ||||||||
5.00%, 05/30/23b | 200 | 179,100 | ||||||
8.63%, 06/22/20b | 250 | 271,560 |
18 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
OJSC Novolipetsk Steel via Steel Funding Ltd. | ||||||||
4.45%, 02/19/18b | $ | 400 | $ | 377,000 | ||||
Sibur Securities Ltd. | ||||||||
3.91%, 01/31/18b | 500 | 455,000 | ||||||
Vimpel Communications Via VIP Finance Ireland Ltd. OJSC | ||||||||
7.75%, 02/02/21b | 400 | 402,592 | ||||||
|
| |||||||
4,106,308 | ||||||||
ISLE OF MAN — 0.36% |
| |||||||
AngloGold Ashanti Holdings PLC | ||||||||
5.13%, 08/01/22 | 300 | 289,154 | ||||||
5.38%, 04/15/20 | 300 | 301,930 | ||||||
|
| |||||||
591,084 | ||||||||
KAZAKHSTAN — 2.44% |
| |||||||
Halyk Savings Bank of Kazakhstan JSC | ||||||||
7.25%, 05/03/17b | 300 | 308,358 | ||||||
7.25%, 01/28/21b | 200 | 204,300 | ||||||
Kazkommertsbank JSC | ||||||||
5.50%, 12/21/22b | 300 | 226,272 | ||||||
KazMunaiGaz Finance Sub BV | ||||||||
9.13%, 07/02/18b | 600 | 678,300 | ||||||
KazMunayGas National Co. JSC | ||||||||
4.88%, 05/07/25b | 800 | 755,600 | ||||||
6.00%, 11/07/44b | 800 | 732,000 | ||||||
6.38%, 04/09/21b | 1,000 | 1,058,250 | ||||||
|
| |||||||
3,963,080 | ||||||||
LUXEMBOURG — 6.07% |
| |||||||
ALROSA Finance SA | ||||||||
7.75%, 11/03/20b | 400 | 413,000 | ||||||
Consolidated Energy Finance SA | ||||||||
6.75%, 10/15/19 (Call 10/15/16)b | 400 | 408,000 | ||||||
CSN Resources SA | ||||||||
6.50%, 07/21/20b | 500 | 460,000 | ||||||
Evraz Group SA | ||||||||
6.50%, 04/22/20b | 600 | 540,000 | ||||||
7.40%, 04/24/17b | 200 | 196,000 | ||||||
9.50%, 04/24/18b | 300 | 306,750 | ||||||
Millicom International Cellular SA | ||||||||
4.75%, 05/22/20 (Call 05/22/17)b | 200 | 197,000 | ||||||
6.00%, 03/15/25 (Call 03/15/20)b | 200 | 202,500 | ||||||
6.63%, 10/15/21 (Call 10/15/17)b | 400 | 425,500 |
Security | Principal (000s) | Value | ||||||
Minerva Luxembourg SA | ||||||||
7.75%, 01/31/23 (Call 01/31/18)b | $ | 400 | $ | 399,000 | ||||
Petrobras International Finance Co. SA | ||||||||
5.88%, 03/01/18 | 1,140 | 1,165,536 | ||||||
6.75%, 01/27/41 | 1,650 | 1,522,026 | ||||||
Puma International Financing SA | ||||||||
6.75%, 02/01/21 (Call 02/01/17)b | 400 | 416,000 | ||||||
Russian Agricultural Bank OJSC Via RSHB Capital SA | ||||||||
5.10%, 07/25/18b | 800 | 749,000 | ||||||
6.30%, 05/15/17b | 400 | 394,492 | ||||||
Sberbank of Russia Via SB Capital SA | ||||||||
5.13%, 10/29/22b | 800 | 664,000 | ||||||
Severstal OAO Via Steel Capital SA | ||||||||
5.90%, 10/17/22b | 200 | 187,780 | ||||||
6.70%, 10/25/17b | 200 | 205,250 | ||||||
TMK OAO Via TMK Capital SA | ||||||||
6.75%, 04/03/20b | 200 | 170,200 | ||||||
7.75%, 01/27/18b | 300 | 285,600 | ||||||
VTB Bank OJSC Via VTB Capital SA | ||||||||
6.95%, 10/17/22b | 600 | 549,948 | ||||||
|
| |||||||
9,857,582 | ||||||||
MEXICO — 2.11% |
| |||||||
Axtel SAB de CV CPO | ||||||||
9.00%, 01/31/20 (Call 01/31/16)b,d | 200 | 191,500 | ||||||
Banco Santander Mexico SA | ||||||||
5.95%, 01/30/24 (Call 01/30/19)b,c | 600 | 636,750 | ||||||
BBVA Bancomer SA/Texas | ||||||||
7.25%, 04/22/20b | 400 | 452,000 | ||||||
Cemex SAB de CV | ||||||||
5.70%, 01/11/25 (Call 01/11/20)b | 600 | 601,320 | ||||||
5.88%, 03/25/19 (Call 03/25/16)b | 200 | 206,400 | ||||||
6.50%, 12/10/19 (Call 12/10/17)b | 400 | 429,000 | ||||||
7.25%, 01/15/21 (Call 01/15/18)b | 300 | 324,750 | ||||||
9.50%, 06/15/18 (Call 06/15/16)b | 200 | 222,000 | ||||||
Empresas ICA SAB de CV | ||||||||
8.88%, 05/29/24 (Call 05/29/19)b | 200 | 174,500 | ||||||
8.90%, 02/04/21 (Call 02/04/16)b | 200 | 184,440 | ||||||
|
| |||||||
3,422,660 |
SCHEDULESOF INVESTMENTS | 19 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
NETHERLANDS — 4.22% |
| |||||||
Majapahit Holding BV | ||||||||
7.75%, 10/17/16b | $ | 300 | $ | 324,750 | ||||
7.75%, 01/20/20b | 500 | 586,960 | ||||||
7.88%, 06/29/37b | 200 | 255,250 | ||||||
8.00%, 08/07/19b | 200 | 234,260 | ||||||
Marfrig Holding Europe BV | ||||||||
6.88%, 06/24/19 (Call 06/24/17)b | 400 | 356,000 | ||||||
8.38%, 05/09/18b | 200 | 194,460 | ||||||
Metinvest BV | ||||||||
8.75%, 02/14/18b | 300 | 177,000 | ||||||
Myriad International Holdings BV | ||||||||
6.00%, 07/18/20b | 400 | 442,000 | ||||||
Petrobras Global Finance BV | ||||||||
4.38%, 05/20/23 | 1,000 | 889,330 | ||||||
6.25%, 03/17/24 | 1,800 | 1,788,480 | ||||||
6.88%, 01/20/40 | 200 | 188,162 | ||||||
7.25%, 03/17/44 | 100 | 98,225 | ||||||
VimpelCom Holdings BV | ||||||||
5.95%, 02/13/23b | 500 | 455,000 | ||||||
7.50%, 03/01/22b | 250 | 247,500 | ||||||
VTR Finance BV | ||||||||
6.88%, 01/15/24 (Call 01/15/19)b | 600 | 620,820 | ||||||
|
| |||||||
6,858,197 | ||||||||
RUSSIA — 0.12% |
| |||||||
Russian Railways via RZD Capital PLC | ||||||||
5.74%, 04/03/17b | 200 | 200,150 | ||||||
|
| |||||||
200,150 | ||||||||
SINGAPORE — 0.61% |
| |||||||
ABJA Investment Co. Pte Ltd. | ||||||||
4.85%, 01/31/20b | 200 | 203,700 | ||||||
5.95%, 07/31/24b | 400 | 414,423 | ||||||
Flextronics International Ltd. | ||||||||
5.00%, 02/15/23 | 350 | 372,750 | ||||||
|
| |||||||
990,873 | ||||||||
SOUTH AFRICA — 1.17% |
| |||||||
Eskom Holdings SOC Ltd. | ||||||||
5.75%, 01/26/21b | 800 | 796,800 | ||||||
6.75%, 08/06/23b | 600 | 621,048 | ||||||
7.13%, 02/11/25b | 200 | 208,540 | ||||||
Myriad International Holdings BV | ||||||||
6.38%, 07/28/17b | 250 | 269,688 | ||||||
|
| |||||||
1,896,076 |
Security | Principal (000s) | Value | ||||||
SOUTH KOREA — 0.33% |
| |||||||
Woori Bank Co. Ltd. | ||||||||
6.21%, 05/02/37 (Call 05/02/17)b,c | $ | 500 | $ | 533,370 | ||||
|
| |||||||
533,370 | ||||||||
SRI LANKA — 0.38% |
| |||||||
Bank of Ceylon | ||||||||
5.33%, 04/16/18b | 200 | 199,000 | ||||||
6.88%, 05/03/17b | 200 | 205,500 | ||||||
National Savings Bank | ||||||||
8.88%, 09/18/18b | 200 | 217,000 | ||||||
|
| |||||||
621,500 | ||||||||
THAILAND — 0.13% |
| |||||||
Krung Thai Bank PCL/Cayman Islands | ||||||||
5.20%, 12/26/24 (Call 12/26/19)b,c | 200 | 208,273 | ||||||
|
| |||||||
208,273 | ||||||||
TURKEY — 0.79% |
| |||||||
Finansbank AS/Turkey | ||||||||
6.25%, 04/30/19b | 200 | 203,512 | ||||||
Turkiye Is Bankasi AS | ||||||||
6.00%, 10/24/22b | 300 | 297,375 | ||||||
Turkiye Vakiflar Bankasi Tao | ||||||||
6.00%, 11/01/22b | 200 | 197,080 | ||||||
6.88%, 02/03/25 (Call 02/03/20)b,c | 200 | 198,000 | ||||||
Yapi ve Kredi Bankasi AS | ||||||||
5.50%, 12/06/22b | 400 | 385,400 | ||||||
|
| |||||||
1,281,367 | ||||||||
UNITED KINGDOM — 0.91% |
| |||||||
Vedanta Resources PLC | ||||||||
6.00%, 01/31/19b | 400 | 377,000 | ||||||
6.75%, 06/07/16b | 200 | 204,740 | ||||||
7.13%, 05/31/23b | 200 | 184,500 | ||||||
8.25%, 06/07/21b | 400 | 398,000 | ||||||
9.50%, 07/18/18b | 300 | 311,250 | ||||||
|
| |||||||
1,475,490 | ||||||||
UNITED STATES — 1.28% |
| |||||||
Cemex Finance LLC | ||||||||
6.00%, 04/01/24 (Call 04/01/19)b | 400 | 410,240 | ||||||
9.38%, 10/12/22 (Call 10/12/17)b | 500 | 569,250 |
20 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
JBS USA LLC/JBS USA Finance Inc. | ||||||||
5.88%, 07/15/24 (Call 07/15/19)b | $ | 200 | $ | 204,000 | ||||
7.25%, 06/01/21 (Call 06/01/15)b | 450 | 474,750 | ||||||
8.25%, 02/01/20 (Call 06/01/15)b | 400 | 425,000 | ||||||
|
| |||||||
2,083,240 | ||||||||
VENEZUELA — 3.87% |
| |||||||
Petroleos de Venezuela SA | ||||||||
Series 2016 | ||||||||
5.13%, 10/28/16 | 375 | 275,625 | ||||||
5.25%, 04/12/17b | 1,025 | 599,523 | ||||||
5.38%, 04/12/27b | 1,320 | 537,768 | ||||||
5.50%, 04/12/37b | 320 | 129,600 | ||||||
6.00%, 05/16/24b | 1,875 | 792,188 | ||||||
6.00%, 11/15/26b | 1,575 | 653,625 | ||||||
8.50%, 11/02/17b | 2,271 | 1,756,618 | ||||||
9.00%, 11/17/21b | 885 | 431,349 | ||||||
9.75%, 05/17/35b | 1,000 | 487,900 | ||||||
12.75%, 02/17/22b | 1,050 | 616,875 | ||||||
|
| |||||||
6,281,071 | ||||||||
|
| |||||||
TOTAL CORPORATE BONDS & NOTES |
| |||||||
(Cost: $76,440,702) |
| 73,152,631 | ||||||
FOREIGN GOVERNMENT OBLIGATIONSa — 52.95% |
| |||||||
ARGENTINA — 2.10% |
| |||||||
Argentine Republic Government International Bond | ||||||||
2.50%, 12/31/38 | 1,914 | 1,105,335 | ||||||
8.28%, 12/31/33 | 1,437 | 1,462,238 | ||||||
8.28%, 12/31/33 | 498 | 494,737 | ||||||
8.75%, 06/02/17 | 362 | 352,950 | ||||||
|
| |||||||
3,415,260 | ||||||||
BELARUS — 0.17% | ||||||||
Republic of Belarus | ||||||||
8.95%, 01/26/18b | 300 | 273,600 | ||||||
|
| |||||||
273,600 | ||||||||
COSTA RICA — 0.84% |
| |||||||
Costa Rica Government International Bond | ||||||||
4.25%, 01/26/23b | 400 | 380,000 | ||||||
4.38%, 04/30/25b | 200 | 186,000 | ||||||
5.63%, 04/30/43b | 200 | 176,000 |
Security | Principal (000s) | Value | ||||||
7.00%, 04/04/44b | $ | 400 | $ | 411,000 | ||||
7.16%, 03/12/45b | 200 | 207,500 | ||||||
|
| |||||||
1,360,500 | ||||||||
CROATIA — 2.24% |
| |||||||
Croatia Government International Bond | ||||||||
5.50%, 04/04/23b | 600 | 636,930 | ||||||
6.00%, 01/26/24b | 800 | 875,360 | ||||||
6.25%, 04/27/17b | 700 | 742,084 | ||||||
6.38%, 03/24/21b | 400 | 441,000 | ||||||
6.63%, 07/14/20b | 200 | 222,688 | ||||||
6.75%, 11/05/19b | 650 | 724,282 | ||||||
|
| |||||||
3,642,344 | ||||||||
DOMINICAN REPUBLIC — 1.74% |
| |||||||
Dominican Republic International Bond | ||||||||
5.50%, 01/27/25b | 200 | 206,500 | ||||||
5.88%, 04/18/24b | 500 | 530,000 | ||||||
6.60%, 01/28/24b | 200 | 219,000 | ||||||
6.85%, 01/27/45b | 500 | 522,500 | ||||||
7.45%, 04/30/44b | 600 | 675,000 | ||||||
7.50%, 05/06/21b | 600 | 675,000 | ||||||
|
| |||||||
2,828,000 | ||||||||
ECUADOR — 0.48% |
| |||||||
Ecuador Government International Bond | ||||||||
7.95%, 06/20/24b | 800 | 780,000 | ||||||
|
| |||||||
780,000 | ||||||||
EGYPT — 0.39% |
| |||||||
Egypt Government International Bond | ||||||||
5.75%, 04/29/20b | 400 | 425,840 | ||||||
6.88%, 04/30/40b | 200 | 207,500 | ||||||
|
| |||||||
633,340 | ||||||||
EL SALVADOR — 1.12% |
| |||||||
El Salvador Government International Bond | ||||||||
5.88%, 01/30/25b | 300 | 298,125 | ||||||
6.38%, 01/18/27b | 300 | 305,250 | ||||||
7.63%, 02/01/41b | 300 | 311,250 | ||||||
7.65%, 06/15/35b | 300 | 315,750 | ||||||
7.75%, 01/24/23b | 320 | 359,200 | ||||||
8.25%, 04/10/32b | 200 | 230,000 | ||||||
|
| |||||||
1,819,575 |
SCHEDULESOF INVESTMENTS | 21 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
GUATEMALA — 0.33% |
| |||||||
Guatemala Government Bond | ||||||||
4.88%, 02/13/28b | $ | 300 | $ | 309,375 | ||||
5.75%, 06/06/22b | 200 | 220,000 | ||||||
|
| |||||||
529,375 | ||||||||
HUNGARY — 3.95% |
| |||||||
Hungary Government International Bond | ||||||||
4.00%, 03/25/19 | 500 | 521,875 | ||||||
4.13%, 02/19/18 | 510 | 532,313 | ||||||
5.38%, 02/21/23 | 760 | 850,417 | ||||||
5.38%, 03/25/24 | 600 | 674,160 | ||||||
5.75%, 11/22/23 | 800 | 919,400 | ||||||
6.25%, 01/29/20 | 600 | 686,109 | ||||||
6.38%, 03/29/21 | 1,200 | 1,397,256 | ||||||
7.63%, 03/29/41 | 432 | 621,000 | ||||||
Magyar Export-Import Bank Zrt | ||||||||
4.00%, 01/30/20b | 200 | 203,500 | ||||||
|
| |||||||
6,406,030 | ||||||||
INDONESIA — 7.79% |
| |||||||
Indonesia Government International Bond | ||||||||
3.38%, 04/15/23b | 570 | 557,887 | ||||||
3.75%, 04/25/22b | 600 | 611,250 | ||||||
4.13%, 01/15/25b | 400 | 407,500 | ||||||
4.63%, 04/15/43b | 400 | 388,000 | ||||||
4.88%, 05/05/21b | 1,100 | 1,199,000 | ||||||
5.13%, 01/15/45b | 600 | 616,500 | ||||||
5.25%, 01/17/42b | 800 | 830,000 | ||||||
5.38%, 10/17/23b | 400 | 446,500 | ||||||
5.88%, 03/13/20b | 800 | 906,000 | ||||||
5.88%, 01/15/24b | 600 | 689,250 | ||||||
6.63%, 02/17/37b | 600 | 728,250 | ||||||
6.75%, 01/15/44b | 800 | 1,012,000 | ||||||
6.88%, 03/09/17b | 400 | 438,500 | ||||||
6.88%, 01/17/18b | 1,000 | 1,129,250 | ||||||
7.75%, 01/17/38b | 800 | 1,091,000 | ||||||
8.50%, 10/12/35b | 650 | 939,250 | ||||||
11.63%, 03/04/19b | 500 | 666,250 | ||||||
|
| |||||||
12,656,387 |
Security | Principal (000s) | Value | ||||||
JAMAICA — 0.48% |
| |||||||
Jamaica Government International Bond | ||||||||
7.63%, 07/09/25 | $ | 200 | $ | 223,000 | ||||
8.00%, 06/24/19 | 300 | 332,060 | ||||||
8.00%, 03/15/39 | 200 | 217,000 | ||||||
|
| |||||||
772,060 | ||||||||
LEBANON — 2.61% |
| |||||||
Lebanese Republic | ||||||||
6.65%, 02/26/30b | 700 | 722,750 | ||||||
Lebanon Government International Bond | ||||||||
4.75%, 11/02/16b | 300 | 301,230 | ||||||
5.15%, 11/12/18b | 450 | 452,250 | ||||||
6.00%, 05/20/19b | 300 | 307,875 | ||||||
6.15%, 06/19/20 | 400 | 412,580 | ||||||
6.38%, 03/09/20 | 600 | 627,450 | ||||||
8.25%, 04/12/21b | 700 | 795,088 | ||||||
9.00%, 03/20/17 | 570 | 616,113 | ||||||
|
| |||||||
4,235,336 | ||||||||
MOROCCO — 0.51% |
| |||||||
Morocco Government International Bond | ||||||||
4.25%, 12/11/22b | 600 | 615,150 | ||||||
5.50%, 12/11/42b | 200 | 214,460 | ||||||
|
| |||||||
829,610 | ||||||||
NIGERIA — 0.39% |
| |||||||
Nigeria Government International Bond | ||||||||
5.13%, 07/12/18b | 200 | 204,928 | ||||||
6.38%, 07/12/23b | 200 | 210,400 | ||||||
6.75%, 01/28/21b | 200 | 214,000 | ||||||
|
| |||||||
629,328 | ||||||||
PAKISTAN — 0.69% |
| |||||||
Pakistan Government International Bond | ||||||||
6.88%, 06/01/17b | 200 | 208,500 | ||||||
7.25%, 04/15/19b | 400 | 421,766 | ||||||
8.25%, 04/15/24b | 450 | 490,500 | ||||||
|
| |||||||
1,120,766 |
22 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||
RUSSIA – 8.83% |
| |||||||
Russian Foreign Bond – Eurobond | ||||||||
3.25%, 04/04/17b | $ | 1,200 | $ | 1,219,740 | ||||
3.50%, 01/16/19b | 400 | 391,800 | ||||||
4.50%, 04/04/22b | 400 | 388,928 | ||||||
4.88%, 09/16/23b | 1,200 | 1,176,000 | ||||||
5.00%, 04/29/20b | 1,400 | 1,424,500 | ||||||
5.63%, 04/04/42b | 1,200 | 1,157,712 | ||||||
5.88%, 09/16/43b | 800 | 787,400 | ||||||
7.50%, 03/31/30b,d | 4,813 | 5,629,326 | ||||||
11.00%, 07/24/18b | 1,000 | 1,221,170 | ||||||
12.75%, 06/24/28b | 600 | 948,000 | ||||||
|
| |||||||
14,344,576 | ||||||||
SERBIA — 1.25% |
| |||||||
Republic of Serbia | ||||||||
4.88%, 02/25/20b | 600 | 615,000 | ||||||
5.25%, 11/21/17b | 400 | 413,164 | ||||||
5.88%, 12/03/18b | 300 | 316,590 | ||||||
7.25%, 09/28/21b | 600 | 691,074 | ||||||
|
| |||||||
2,035,828 | ||||||||
SRI LANKA — 1.11% |
| |||||||
Sri Lanka Government International Bond | ||||||||
5.88%, 07/25/22b | 400 | 406,800 | ||||||
6.00%, 01/14/19b | 400 | 413,000 | ||||||
6.25%, 10/04/20b | 650 | 672,750 | ||||||
6.25%, 07/27/21b | 299 | 309,465 | ||||||
|
| |||||||
1,802,015 | ||||||||
TURKEY — 11.06% |
| |||||||
Export Credit Bank of Turkey | ||||||||
5.00%, 09/23/21b | 200 | 201,504 | ||||||
5.38%, 11/04/16b | 200 | 207,556 | ||||||
Turkey Government International Bond | ||||||||
3.25%, 03/23/23 | 554 | 521,231 | ||||||
4.88%, 04/16/43 | 800 | 772,000 | ||||||
5.13%, 03/25/22 | 442 | 467,968 | ||||||
5.63%, 03/30/21 | 850 | 927,265 | ||||||
5.75%, 03/22/24 | 1,000 | 1,102,040 | ||||||
5.88%, 04/24/19b | 200 | 211,350 | ||||||
6.00%, 01/14/41 | 1,200 | 1,332,600 | ||||||
6.25%, 09/26/22 | 1,000 | 1,130,000 | ||||||
6.63%, 02/17/45 | 600 | 726,000 |
Security | Principal (000s) | Value | ||||||
6.75%, 04/03/18 | $ | 850 | $ | 939,250 | ||||
6.75%, 05/30/40 | 875 | 1,060,937 | ||||||
6.88%, 03/17/36 | 820 | 998,186 | ||||||
7.00%, 09/26/16 | 500 | 537,500 | ||||||
7.00%, 03/11/19 | 800 | 904,240 | ||||||
7.00%, 06/05/20 | 950 | 1,094,305 | ||||||
7.25%, 03/05/38 | 410 | 522,545 | ||||||
7.38%, 02/05/25 | 1,320 | 1,621,950 | ||||||
7.50%, 07/14/17 | 600 | 663,120 | ||||||
7.50%, 11/07/19 | 250 | 290,725 | ||||||
8.00%, 02/14/34 | 563 | 758,755 | ||||||
11.88%, 01/15/30 | 554 | 964,461 | ||||||
|
| |||||||
17,955,488 | ||||||||
UKRAINE — 0.99% |
| |||||||
Ukraine Government International Bond | ||||||||
6.25%, 06/17/16b | 600 | 273,864 | ||||||
6.58%, 11/21/16b | 400 | 185,000 | ||||||
6.75%, 11/14/17b | 300 | 139,500 | ||||||
7.50%, 04/17/23b | 400 | 189,360 | ||||||
7.75%, 09/23/20b | 500 | 227,500 | ||||||
7.80%, 11/28/22b | 800 | 364,416 | ||||||
7.95%, 02/23/21b | 500 | 228,830 | ||||||
|
| |||||||
1,608,470 | ||||||||
UNITED KINGDOM — 0.08% |
| |||||||
Ukreximbank Via Biz Finance PLC | ||||||||
8.75%, 01/22/18b | 200 | 132,776 | ||||||
|
| |||||||
132,776 | ||||||||
VENEZUELA — 3.30% |
| |||||||
Venezuela Government International Bond | ||||||||
6.00%, 12/09/20b | 605 | 257,125 | ||||||
7.00%, 12/01/18b | 200 | 99,000 | ||||||
7.00%, 03/31/38b | 650 | 264,875 | ||||||
7.65%, 04/21/25 | 608 | 259,920 | ||||||
7.75%, 10/13/19b | 1,050 | 485,625 | ||||||
8.25%, 10/13/24b | 700 | 306,250 | ||||||
9.00%, 05/07/23b | 795 | 361,725 | ||||||
9.25%, 09/15/27 | 1,370 | 671,300 | ||||||
9.25%, 05/07/28b | 825 | 365,062 | ||||||
9.38%, 01/13/34 | 410 | 185,525 | ||||||
11.75%, 10/21/26b | 1,150 | 583,625 | ||||||
11.95%, 08/05/31b | 1,395 | 704,475 |
SCHEDULESOF INVESTMENTS | 23 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS HIGH YIELD BOND ETF
April 30, 2015
Security | Principal or Shares (000s) | Value | ||||||
12.75%, 08/23/22b | $ | 1,050 | $ | 574,875 | ||||
13.63%, 08/15/18 | 300 | 230,700 | ||||||
|
| |||||||
5,350,082 | ||||||||
VIETNAM — 0.50% |
| |||||||
Vietnam Government International Bond | ||||||||
4.80%, 11/19/24b | 400 | 417,000 | ||||||
6.75%, 01/29/20b | 350 | 395,062 | ||||||
|
| |||||||
812,062 | ||||||||
|
| |||||||
TOTAL FOREIGN GOVERNMENT OBLIGATIONS |
| |||||||
(Cost: $89,903,028) |
| 85,972,808 | ||||||
SHORT-TERM INVESTMENTS — 0.29% |
| |||||||
MONEY MARKET FUNDS — 0.29% |
| |||||||
BlackRock Cash Funds: Treasury, |
| |||||||
0.00%f,g | 472 | 471,724 | ||||||
|
| |||||||
471,724 | ||||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| |||||||
(Cost: $471,724) |
| 471,724 | ||||||
|
| |||||||
TOTAL INVESTMENTS |
| |||||||
(Cost: $166,815,454) |
| 159,597,163 | ||||||
Other Assets, Less Liabilities — 1.71% |
| 2,783,187 | ||||||
|
| |||||||
NET ASSETS — 100.00% | $ | 162,380,350 | ||||||
|
|
CPO — Certificates of Participation (Ordinary)
a | Investments are denominated in U.S. dollars. |
b | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
c | Variable rate security. Rate shown is as of report date. |
d | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
e | Issuer is in default of interest payments. |
f | Affiliated issuer. See Note 2. |
g | The rate quoted is the annualized seven-day yield of the fund at period end. |
See notes to financial statements.
24 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited)
iSHARES® EMERGING MARKETS LOCAL CURRENCY BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
FOREIGN GOVERNMENT OBLIGATIONS — 95.77% |
| |||||||||||
BRAZIL — 12.80% |
| |||||||||||
Brazil Letras do Tesouro Nacional | ||||||||||||
0.00%, 07/01/15 | BRL | 3,674 | $ | 1,200,331 | ||||||||
0.00%, 01/01/16 | BRL | 36,733 | 11,237,377 | |||||||||
0.00%, 04/01/16 | BRL | 17,800 | 5,278,057 | |||||||||
0.00%, 07/01/16 | BRL | 30,279 | 8,695,669 | |||||||||
0.00%, 10/01/16 | BRL | 19,000 | 5,283,987 | |||||||||
0.00%, 01/01/17 | BRL | 48,218 | 13,012,910 | |||||||||
0.00%, 07/01/17 | BRL | 3,786 | 961,640 | |||||||||
0.00%, 01/01/18 | BRL | 19,600 | 4,701,334 | |||||||||
0.00%, 01/01/19 | BRL | 13,453 | 2,869,308 | |||||||||
Brazil Notas do Tesouro Nacional Series F | ||||||||||||
10.00%, 01/01/18 | BRL | 28,054 | 8,743,965 | |||||||||
10.00%, 01/01/19 | BRL | 2,138 | 655,823 | |||||||||
10.00%, 01/01/21 | BRL | 15,516 | 4,623,728 | |||||||||
10.00%, 01/01/23 | BRL | 20,882 | 6,078,803 | |||||||||
10.00%, 01/01/25 | BRL | 20,850 | 5,937,572 | |||||||||
Brazilian Government International Bond | ||||||||||||
8.50%, 01/05/24 | BRL | 500 | 169,220 | |||||||||
10.25%, 01/10/28 | BRL | 1,420 | 527,934 | |||||||||
12.50%, 01/05/16 | BRL | 1,400 | 469,149 | |||||||||
12.50%, 01/05/22 | BRL | 1,633 | 652,046 | |||||||||
|
| |||||||||||
81,098,853 | ||||||||||||
CHILE — 0.13% |
| |||||||||||
Bonos del Banco Central de Chile en Pesos | ||||||||||||
6.00%, 02/01/21 | CLP | 35,000 | 62,743 | |||||||||
Chile Government International Bond | ||||||||||||
5.50%, 08/05/20 | CLP | 416,000 | 728,575 | |||||||||
|
| |||||||||||
791,318 | ||||||||||||
COLOMBIA — 4.26% |
| |||||||||||
Colombia Government International Bond | ||||||||||||
7.75%, 04/14/21 | COP | 496,000 | 232,327 | |||||||||
9.85%, 06/28/27 | COP | 2,998,000 | 1,637,896 | |||||||||
Colombian TES | ||||||||||||
6.00%, 04/28/28 | COP | 3,545,000 | 1,317,273 | |||||||||
7.00%, 09/11/19 | COP | 5,590,000 | 2,460,881 |
Security | Principal (000s) | Value | ||||||||||
7.00%, 05/04/22 | COP | 4,322,000 | $ | 1,862,625 | ||||||||
7.25%, 06/15/16 | COP | 2,617,000 | 1,118,931 | |||||||||
7.50%, 08/26/26 | COP | 7,725,800 | 3,333,255 | |||||||||
7.75%, 09/18/30 | COP | 2,050,000 | 876,739 | |||||||||
8.00%, 10/28/15 | COP | 16,026,000 | 6,780,942 | |||||||||
10.00%, 07/24/24 | COP | 7,616,000 | 3,873,606 | |||||||||
11.00%, 07/24/20 | COP | 2,443,000 | 1,254,210 | |||||||||
11.25%, 10/24/18 | COP | 4,568,000 | 2,249,307 | |||||||||
|
| |||||||||||
26,997,992 | ||||||||||||
CZECH REPUBLIC — 3.02% |
| |||||||||||
Czech Republic Government Bond | ||||||||||||
0.85%, 03/17/18 | CZK | 35,030 | 1,463,414 | |||||||||
1.50%, 10/29/19 | CZK | 13,470 | 584,349 | |||||||||
3.75%, 09/12/20 | CZK | 41,490 | 2,020,248 | |||||||||
3.85%, 09/29/21 | CZK | 38,940 | 1,953,272 | |||||||||
4.00%, 04/11/17 | CZK | 42,590 | 1,872,327 | |||||||||
4.20%, 12/04/36 | CZK | 50,460 | 3,079,530 | |||||||||
4.60%, 08/18/18 | CZK | 66,550 | 3,123,356 | |||||||||
4.70%, 09/12/22 | CZK | 22,760 | 1,227,431 | |||||||||
5.70%, 05/25/24 | CZK | 37,010 | 2,230,868 | |||||||||
6.95%, 01/26/16 | CZK | 37,290 | 1,599,417 | |||||||||
|
| |||||||||||
19,154,212 | ||||||||||||
HUNGARY — 2.68% |
| |||||||||||
Hungary Government Bond | ||||||||||||
4.00%, 04/25/18 | HUF | 284,340 | 1,101,638 | |||||||||
5.50%, 02/12/16 | HUF | 763,480 | 2,904,027 | |||||||||
5.50%, 12/20/18 | HUF | 211,430 | 863,658 | |||||||||
5.50%, 06/24/25 | HUF | 299,780 | 1,289,808 | |||||||||
6.00%, 11/24/23 | HUF | 441,220 | 1,941,404 | |||||||||
6.50%, 06/24/19 | HUF | 701,550 | 2,966,187 | |||||||||
6.75%, 11/24/17 | HUF | 222,000 | 919,838 | |||||||||
7.00%, 06/24/22 | HUF | 701,800 | 3,183,164 | |||||||||
7.50%, 11/12/20 | HUF | 396,400 | 1,794,514 | |||||||||
|
| |||||||||||
16,964,238 | ||||||||||||
INDONESIA — 4.34% |
| |||||||||||
Indonesia Treasury Bond | ||||||||||||
5.63%, 05/15/23 | IDR | 7,531,000 | 509,813 | |||||||||
6.63%, 05/15/33 | IDR | 22,700,000 | 1,510,415 | |||||||||
7.00%, 05/15/22 | IDR | 34,205,000 | 2,539,812 | |||||||||
7.88%, 04/15/19 | IDR | 41,369,000 | 3,220,160 | |||||||||
8.25%, 06/15/32 | IDR | 45,384,000 | 3,562,447 | |||||||||
8.38%, 03/15/24 | IDR | 13,138,000 | 1,056,614 |
SCHEDULESOF INVESTMENTS | 25 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS LOCAL CURRENCY BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
8.38%, 09/15/26 | IDR | 6,000,000 | $ | 479,074 | ||||||||
8.38%, 03/15/34 | IDR | 5,000,000 | 398,264 | |||||||||
9.50%, 06/15/15 | IDR | 3,791,000 | 293,190 | |||||||||
9.50%, 07/15/31 | IDR | 74,295,000 | 6,462,361 | |||||||||
10.00%, 07/15/17 | IDR | 21,137,000 | 1,711,392 | |||||||||
10.00%, 09/15/24 | IDR | 17,060,000 | 1,506,939 | |||||||||
10.00%, 02/15/28 | IDR | 6,552,000 | 583,046 | |||||||||
10.50%, 07/15/38 | IDR | 4,860,000 | 459,001 | |||||||||
11.00%, 11/15/20 | IDR | 15,732,000 | 1,393,883 | |||||||||
11.00%, 09/15/25 | IDR | 19,220,000 | 1,814,131 | |||||||||
|
| |||||||||||
27,500,542 | ||||||||||||
ISRAEL — 4.46% |
| |||||||||||
Israel Government Bond – Fixed | ||||||||||||
2.25%, 05/31/19 | ILS | 4,169 | 1,152,671 | |||||||||
4.00%, 01/31/18 | ILS | 11,175 | 3,186,766 | |||||||||
4.25%, 03/31/23 | ILS | 16,251 | 5,119,458 | |||||||||
5.00%, 01/31/20 | ILS | 6,909 | 2,145,175 | |||||||||
5.50%, 02/28/17 | ILS | 8,658 | 2,461,871 | |||||||||
5.50%, 01/31/22 | ILS | 3,150 | 1,047,477 | |||||||||
5.50%, 01/31/42 | ILS | 5,562 | 2,246,275 | |||||||||
6.00%, 02/28/19 | ILS | 23,891 | 7,474,015 | |||||||||
6.25%, 10/30/26 | ILS | 3,650 | 1,385,103 | |||||||||
Israel Government Bond – Shahar | ||||||||||||
6.50%, 01/31/16 | ILS | 7,620 | 2,068,339 | |||||||||
|
| |||||||||||
28,287,150 | ||||||||||||
MALAYSIA — 4.50% |
| |||||||||||
Malaysia Government Bond | ||||||||||||
3.49%, 03/31/20 | MYR | 6,899 | 1,923,100 | |||||||||
3.50%, 05/31/27 | MYR | 3,546 | 943,217 | |||||||||
3.73%, 06/15/28 | MYR | 1,800 | 489,697 | |||||||||
3.84%, 08/12/15 | MYR | 32,809 | 9,232,396 | |||||||||
4.01%, 09/15/17 | MYR | 7,348 | 2,096,516 | |||||||||
4.05%, 09/30/21 | MYR | 3,374 | 961,839 | |||||||||
4.13%, 04/15/32 | MYR | 7,400 | 2,077,423 | |||||||||
4.39%, 04/15/26 | MYR | 8,565 | 2,489,658 | |||||||||
4.50%, 04/15/30 | MYR | 3,300 | 973,285 | |||||||||
5.73%, 07/30/19 | MYR | 17,350 | 5,274,468 | |||||||||
Malaysia Government Investment Issue | ||||||||||||
4.17%, 04/30/21 | MYR | 7,098 | 2,027,599 | |||||||||
|
| |||||||||||
28,489,198 |
Security | Principal (000s) | Value | ||||||||||
MEXICO — 8.94% |
| |||||||||||
Mexican Bonos | ||||||||||||
5.00%, 06/15/17 | MXN | 23,466 | $ | 1,555,134 | ||||||||
6.25%, 06/16/16 | MXN | 38,193 | 2,556,644 | |||||||||
6.50%, 06/10/21 | MXN | 89,936 | 6,114,350 | |||||||||
7.25%, 12/15/16 | MXN | 99,770 | 6,838,107 | |||||||||
7.50%, 06/03/27 | MXN | 75,449 | 5,461,999 | |||||||||
7.75%, 12/14/17 | MXN | 48,350 | 3,399,967 | |||||||||
7.75%, 05/29/31 | MXN | 27,758 | 2,063,368 | |||||||||
7.75%, 11/13/42 | MXN | 37,092 | 2,785,368 | |||||||||
8.00%, 12/17/15 | MXN | 35,000 | 2,347,793 | |||||||||
8.00%, 06/11/20 | MXN | 10,320 | 751,005 | |||||||||
8.00%, 12/07/23 | MXN | 69,446 | 5,156,559 | |||||||||
8.50%, 12/13/18 | MXN | 76,843 | 5,584,142 | |||||||||
8.50%, 11/18/38 | MXN | 27,030 | 2,178,440 | |||||||||
10.00%, 12/05/24 | MXN | 83,277 | 7,021,347 | |||||||||
10.00%, 11/20/36 | MXN | 30,767 | 2,836,433 | |||||||||
|
| |||||||||||
56,650,656 | ||||||||||||
NIGERIA — 1.07% |
| |||||||||||
Nigeria Government Bond | ||||||||||||
10.00%, 07/23/30 | NGN | 233,200 | 805,067 | |||||||||
13.05%, 08/16/16 | NGN | 288,600 | 1,432,123 | |||||||||
14.20%, 03/14/24 | NGN | 261,720 | 1,323,580 | |||||||||
15.10%, 04/27/17 | NGN | 270,926 | 1,385,262 | |||||||||
16.39%, 01/27/22 | NGN | 334,287 | 1,847,818 | |||||||||
|
| |||||||||||
6,793,850 | ||||||||||||
PERU — 1.02% |
| |||||||||||
Peru Government Bond | ||||||||||||
5.70%, 08/12/24 | PEN | 1,895 | 598,194 | |||||||||
6.85%, 02/12/42 | PEN | 2,410 | 768,745 | |||||||||
6.90%, 08/12/37 | PEN | 781 | 254,028 | |||||||||
6.95%, 08/12/31 | PEN | 3,112 | 1,030,358 | |||||||||
8.20%, 08/12/26 | PEN | 10,172 | 3,803,091 | |||||||||
|
| |||||||||||
6,454,416 | ||||||||||||
PHILIPPINES — 4.28% |
| |||||||||||
Philippine Government Bond | ||||||||||||
2.88%, 05/22/17 | PHP | 63,740 | 1,437,578 | |||||||||
3.88%, 11/22/19 | PHP | 25,000 | 572,535 | |||||||||
4.00%, 12/06/22 | PHP | 44,000 | 975,747 | |||||||||
4.13%, 08/20/24 | PHP | 50,000 | 1,159,477 | |||||||||
5.00%, 08/18/18 | PHP | 116,380 | 2,767,377 | |||||||||
6.38%, 01/19/22 | PHP | 77,798 | 1,988,575 | |||||||||
7.00%, 01/27/16 | PHP | 151,096 | 3,504,593 |
26 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS LOCAL CURRENCY BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
7.00%, 03/31/17 | PHP | 23,140 | $ | 553,993 | ||||||||
8.00%, 07/19/31 | PHP | 38,500 | 1,236,556 | |||||||||
8.13%, 12/16/35 | PHP | 224,015 | 7,111,072 | |||||||||
8.50%, 11/29/32 | PHP | 39,730 | 1,263,419 | |||||||||
Philippine Government International Bond | ||||||||||||
4.95%, 01/15/21 | PHP | 126,000 | 3,036,111 | |||||||||
6.25%, 01/14/36 | PHP | 57,000 | 1,500,842 | |||||||||
|
| |||||||||||
27,107,875 | ||||||||||||
POLAND — 4.31% |
| |||||||||||
Poland Government Bond | ||||||||||||
0.00%, 07/25/15 | PLN | 2,225 | 614,401 | |||||||||
0.00%, 01/25/16 | PLN | 12,591 | 3,449,259 | |||||||||
3.25%, 07/25/19 | PLN | 7,334 | 2,122,107 | |||||||||
3.25%, 07/25/25 | PLN | 4,753 | 1,386,352 | |||||||||
3.75%, 04/25/18 | PLN | 15,000 | 4,376,021 | |||||||||
4.00%, 10/25/23 | PLN | 7,500 | 2,303,136 | |||||||||
4.75%, 10/25/16 | PLN | 10,657 | 3,084,391 | |||||||||
5.00%, 04/25/16 | PLN | 5,774 | 1,651,520 | |||||||||
5.25%, 10/25/20 | PLN | 7,244 | 2,310,931 | |||||||||
5.50%, 10/25/19 | PLN | 3,477 | 1,100,008 | |||||||||
5.75%, 09/23/22 | PLN | 14,580 | 4,927,734 | |||||||||
|
| |||||||||||
27,325,860 | ||||||||||||
ROMANIA — 1.91% |
| |||||||||||
Romania Government Bond | ||||||||||||
4.75%, 06/24/19 | RON | 4,700 | 1,305,346 | |||||||||
5.60%, 11/28/18 | RON | 3,680 | 1,045,014 | |||||||||
5.75%, 01/27/16 | RON | 4,040 | 1,056,337 | |||||||||
5.85%, 04/26/23 | RON | 9,570 | 2,880,092 | |||||||||
5.90%, 07/26/17 | RON | 4,960 | 1,370,095 | |||||||||
6.75%, 06/11/17 | RON | 10,400 | 2,906,602 | |||||||||
Romanian Government International Bond | ||||||||||||
4.75%, 08/29/16 | RON | 5,820 | 1,538,008 | |||||||||
|
| |||||||||||
12,101,494 | ||||||||||||
RUSSIA — 3.80% |
| |||||||||||
Russian Federal Bond – OFZ |
| |||||||||||
6.00%, 05/11/16 | RUB | 66,278 | 1,230,115 | |||||||||
6.20%, 01/31/18 | RUB | 76,303 | 1,317,083 | |||||||||
6.70%, 05/15/19 | RUB | 43,201 | 725,604 | |||||||||
6.80%, 12/11/19 | RUB | 37,138 | 619,091 | |||||||||
6.88%, 07/15/15 | RUB | 252,461 | 4,869,168 | |||||||||
7.00%, 01/25/23 | RUB | 127,000 | 2,006,313 |
Security | Principal (000s) | Value | ||||||||||
7.05%, 01/19/28 | RUB | 60,500 | $ | 897,245 | ||||||||
7.40%, 04/19/17 | RUB | 69,540 | 1,273,808 | |||||||||
7.40%, 06/14/17 | RUB | 102,560 | 1,873,686 | |||||||||
7.50%, 03/15/18 | RUB | 55,773 | 995,683 | |||||||||
7.50%, 02/27/19 | RUB | 84,000 | 1,461,340 | |||||||||
7.60%, 04/14/21 | RUB | 190,974 | 3,224,258 | |||||||||
8.15%, 02/03/27 | RUB | 201,635 | 3,341,715 | |||||||||
Russian Foreign Bond – Eurobond | ||||||||||||
7.85%, 03/10/18a | RUB | 15,000 | 268,949 | |||||||||
|
| |||||||||||
24,104,058 | ||||||||||||
SOUTH AFRICA — 4.36% |
| |||||||||||
South Africa Government Bond | ||||||||||||
6.25%, 03/31/36 | ZAR | 62,209 | 4,050,610 | |||||||||
6.50%, 02/28/41 | ZAR | 49,808 | 3,273,998 | |||||||||
6.75%, 03/31/21 | ZAR | 45,260 | 3,642,408 | |||||||||
7.25%, 01/15/20 | ZAR | 16,428 | 1,363,716 | |||||||||
8.00%, 01/31/30 | ZAR | 25,760 | 2,083,440 | |||||||||
8.25%, 09/15/17 | ZAR | 52,607 | 4,518,097 | |||||||||
8.50%, 01/31/37 | ZAR | 14,680 | 1,216,426 | |||||||||
8.75%, 02/28/48 | ZAR | 29,300 | 2,483,215 | |||||||||
10.50%, 12/21/26 | ZAR | 47,274 | 4,706,385 | |||||||||
13.50%, 09/15/15 | ZAR | 567 | 48,609 | |||||||||
13.50%, 09/15/16 | ZAR | 2,667 | 243,079 | |||||||||
|
| |||||||||||
27,629,983 | ||||||||||||
SOUTH KOREA — 21.10% |
| |||||||||||
Korea Monetary Stabilization Bond | ||||||||||||
2.76%, 06/02/15 | KRW | 5,606,980 | 5,234,471 | |||||||||
2.80%, 08/02/15 | KRW | 2,577,000 | 2,410,120 | |||||||||
2.90%, 12/02/15 | KRW | 11,822,000 | 11,101,211 | |||||||||
Korea Treasury Bond | ||||||||||||
2.75%, 09/10/17 | KRW | 16,615,260 | 15,830,065 | |||||||||
3.00%, 12/10/42 | KRW | 5,425,970 | 5,361,132 | |||||||||
3.13%, 03/10/19 | KRW | 6,500,000 | 6,324,706 | |||||||||
3.50%, 03/10/17 | KRW | 8,612,000 | 8,282,703 | |||||||||
3.50%, 03/10/24 | KRW | 3,862,430 | 3,920,655 | |||||||||
3.75%, 06/10/22 | KRW | 3,000,000 | 3,077,015 | |||||||||
3.75%, 12/10/33 | KRW | 3,325,410 | 3,613,002 | |||||||||
4.00%, 03/10/16 | KRW | 7,159,600 | 6,806,629 | |||||||||
4.00%, 12/10/31 | KRW | 9,510,250 | 10,520,093 | |||||||||
4.25%, 06/10/21 | KRW | 2,815,000 | 2,937,841 |
SCHEDULESOF INVESTMENTS | 27 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® EMERGING MARKETS LOCAL CURRENCY BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
4.75%, 12/10/30 | KRW | 4,743,000 | $ | 5,636,516 | ||||||||
5.00%, 09/10/16 | KRW | 5,514,000 | 5,364,114 | |||||||||
5.00%, 06/10/20 | KRW | 8,100,000 | 8,619,700 | |||||||||
5.25%, 09/10/15 | KRW | 7,890,260 | 7,450,628 | |||||||||
5.25%, 03/10/27 | KRW | 5,000,000 | 5,970,849 | |||||||||
5.50%, 09/10/17 | KRW | 4,274,600 | 4,323,846 | |||||||||
5.50%, 12/10/29 | KRW | 3,299,290 | 4,164,646 | |||||||||
5.75%, 09/10/18 | KRW | 6,400,000 | 6,710,388 | |||||||||
|
| |||||||||||
133,660,330 | ||||||||||||
THAILAND — 4.38% |
| |||||||||||
Thailand Government Bond | ||||||||||||
3.13%, 12/11/15 | THB | 190,870 | 5,843,986 | |||||||||
3.58%, 12/17/27 | THB | 162,108 | 5,353,818 | |||||||||
3.63%, 05/22/15 | THB | 30,122 | 914,625 | |||||||||
3.65%, 12/17/21 | THB | 30,650 | 1,007,838 | |||||||||
3.78%, 06/25/32 | THB | 61,242 | 1,961,992 | |||||||||
3.80%, 06/14/41 | THB | 30,000 | 957,516 | |||||||||
3.85%, 12/12/25 | THB | 52,479 | 1,790,733 | |||||||||
3.88%, 06/13/19 | THB | 37,770 | 1,233,354 | |||||||||
4.13%, 11/18/16 | THB | 26,230 | 826,032 | |||||||||
4.85%, 06/17/61 | THB | 14,000 | 504,803 | |||||||||
4.88%, 06/22/29 | THB | 49,500 | 1,862,215 | |||||||||
5.67%, 03/13/28 | THB | 99,420 | 3,938,648 | |||||||||
6.15%, 07/07/26 | THB | 37,899 | 1,551,071 | |||||||||
|
| |||||||||||
27,746,631 | ||||||||||||
TURKEY — 4.41% |
| |||||||||||
Turkey Government Bond | ||||||||||||
0.00%, 07/15/15 | TRY | 1,198 | 438,788 | |||||||||
6.30%, 02/14/18 | TRY | 7,776 | 2,680,026 | |||||||||
8.30%, 10/07/15 | TRY | 3,200 | 1,187,223 | |||||||||
8.50%, 07/10/19 | TRY | 12,410 | 4,495,184 | |||||||||
8.50%, 09/14/22 | TRY | 10,372 | 3,736,696 | |||||||||
8.80%, 09/27/23 | TRY | 6,874 | 2,507,906 | |||||||||
9.00%, 01/27/16 | TRY | 20,010 | 7,416,410 | |||||||||
9.00%, 07/24/24 | TRY | 4,123 | 1,533,516 | |||||||||
10.50%, 01/15/20 | TRY | 10,095 | 3,969,848 | |||||||||
|
| |||||||||||
27,965,597 | ||||||||||||
|
| |||||||||||
TOTAL FOREIGN GOVERNMENT OBLIGATIONS |
| |||||||||||
(Cost: $659,264,056) |
| 606,824,253 |
Security | Shares (000s) | Value | ||||||||
SHORT-TERM INVESTMENTS — 0.01% |
| |||||||||
MONEY MARKET FUNDS — 0.01% |
| |||||||||
BlackRock Cash Funds: Treasury, |
| |||||||||
0.00%b,c | 57 | $ | 57,188 | |||||||
|
| |||||||||
57,188 | ||||||||||
|
| |||||||||
TOTAL SHORT-TERM INVESTMENTS |
| |||||||||
(Cost: $57,188) | 57,188 | |||||||||
|
| |||||||||
TOTAL INVESTMENTS |
| |||||||||
(Cost: $659,321,244) | 606,881,441 | |||||||||
Other Assets, Less Liabilities — 4.22% |
| 26,750,100 | ||||||||
|
| |||||||||
NET ASSETS — 100.00% | $ | 633,631,541 | ||||||||
|
|
BRL | — Brazilian Real | |
CLP | — Chilean Peso | |
COP | — Colombian Peso | |
CZK | — Czech Koruna | |
HUF | — Hungarian Forint | |
IDR | — Indonesian Rupiah | |
ILS | — Israeli Shekel | |
KRW | — South Korean Won | |
MXN | — Mexican Peso | |
MYR | — Malaysian Ringgit | |
NGN | — Nigerian Naira | |
PEN | — Peru Nuevo Sol | |
PHP | — Philippine Peso | |
PLN | — Polish Zloty | |
RON | — Romanian Leu | |
RUB | — New Russian Ruble | |
THB | — Thai Baht | |
TRY | — Turkish Lira | |
ZAR | — South African Rand |
a | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
b | Affiliated issuer. See Note 2. |
c | The rate quoted is the annualized seven-day yield of the fund at period end. |
See notes to financial statements.
28 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
CORPORATE BONDS & NOTES — 97.39% |
| |||||||||||
AUSTRALIA — 0.37% |
| |||||||||||
Origin Energy Finance Ltd. | ||||||||||||
4.00%, 09/16/74 (Call 09/16/19)a,b | EUR | 850 | $ | 925,084 | ||||||||
|
| |||||||||||
925,084 | ||||||||||||
AUSTRIA — 1.03% |
| |||||||||||
BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG | ||||||||||||
8.13%, 10/30/23a | EUR | 300 | 412,642 | |||||||||
Raiffeisen Bank International AG | ||||||||||||
4.50%, 02/21/25 (Call 02/21/20)a,b | EUR | 400 | 373,143 | |||||||||
6.00%, 10/16/23a | EUR | 500 | 530,861 | |||||||||
6.63%, 05/18/21 | EUR | 400 | 452,702 | |||||||||
Raiffeisenlandesbank Niederoesterreich- | ||||||||||||
5.88%, 11/27/23a | EUR | 200 | 191,614 | |||||||||
Sappi Papier Holding GmbH | ||||||||||||
3.38%, 04/01/22 (Call 04/01/18)a | EUR | 225 | 246,136 | |||||||||
Wienerberger AG | ||||||||||||
4.00%, 04/17/20 | EUR | 300 | 367,070 | |||||||||
|
| |||||||||||
2,574,168 | ||||||||||||
BELGIUM — 0.35% |
| |||||||||||
Barry Callebaut Services NV | ||||||||||||
5.63%, 06/15/21a | EUR | 200 | 272,742 | |||||||||
6.00%, 07/13/17 | EUR | 300 | 373,311 | |||||||||
Ontex Group NV | ||||||||||||
4.75%, 11/15/21 (Call 11/15/17)a | EUR | 200 | 241,479 | |||||||||
|
| |||||||||||
887,532 | ||||||||||||
CANADA — 4.02% |
| |||||||||||
Air Canada | ||||||||||||
7.63%, 10/01/19 (Call 10/01/16)c | CAD | 250 | 221,362 | |||||||||
Armtec Holdings Ltd. | ||||||||||||
8.88%, 09/22/17 (Call 06/01/15)d | CAD | 63 | 5,721 | |||||||||
Athabasca Oil Corp. | ||||||||||||
7.50%, 11/19/17 (Call 06/01/15)c | CAD | 250 | 186,275 | |||||||||
7.50%, 11/19/17 (Call 06/01/15)a | CAD | 250 | 185,759 |
Security | Principal (000s) | Value | ||||||||||
AutoCanada Inc. | ||||||||||||
5.63%, 05/25/21 (Call 05/25/17) | CAD | 100 | $ | 81,527 | ||||||||
Baytex Energy Corp. | ||||||||||||
6.63%, 07/19/22 (Call 07/19/17) | CAD | 250 | 208,462 | |||||||||
Bombardier Inc. | ||||||||||||
6.13%, 05/15/21a | EUR | 600 | 729,478 | |||||||||
Brookfield Office Properties Inc. | ||||||||||||
4.00%, 04/16/18 | CAD | 100 | 84,727 | |||||||||
4.30%, 01/17/17 | CAD | 100 | 84,727 | |||||||||
Canadian Energy Services & Technology Corp. | ||||||||||||
7.38%, 04/17/20 (Call 04/17/17) | CAD | 250 | 207,430 | |||||||||
Cascades Inc. | ||||||||||||
5.50%, 07/15/21 (Call 07/15/17)c | CAD | 200 | 165,944 | |||||||||
Centric Health Corp. | ||||||||||||
8.63%, 04/18/18 (Call 04/18/16) | CAD | 130 | 84,788 | |||||||||
Corus Entertainment Inc. | ||||||||||||
4.25%, 02/11/20a | CAD | 500 | 406,605 | |||||||||
Crew Energy Inc. | ||||||||||||
8.38%, 10/21/20 (Call 10/21/16)a | CAD | 150 | 123,220 | |||||||||
DHX Media Ltd. | ||||||||||||
5.88%, 12/02/21 (Call 12/02/17) | CAD | 125 | 102,941 | |||||||||
Gateway Casinos & Entertainment Ltd. | ||||||||||||
8.50%, 11/26/20 (Call 11/26/16)c | CAD | 150 | 123,839 | |||||||||
GFL Environmental Inc. | ||||||||||||
7.50%, 06/18/18 (Call 06/18/15)a | CAD | 199 | 163,472 | |||||||||
Gibson Energy Inc. | ||||||||||||
5.38%, 07/15/22 (Call 07/15/17)c | CAD | 125 | 103,973 | |||||||||
5.38%, 07/15/22 (Call 07/15/17)a | CAD | 250 | 210,010 | |||||||||
7.00%, 07/15/20 (Call 07/15/16)c | CAD | 100 | 87,926 |
SCHEDULESOF INVESTMENTS | 29 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Great Canadian Gaming Corp. | ||||||||||||
6.63%, 07/25/22 (Call 07/25/17)c | CAD | 425 | $ | 365,790 | ||||||||
Iron Mountain Canada Operations ULC | ||||||||||||
6.13%, 08/15/21 (Call 08/15/17) | CAD | 250 | 214,654 | |||||||||
Mattamy Group Corp. | ||||||||||||
6.88%, 11/15/20 (Call 11/15/15)c | CAD | 200 | 164,706 | |||||||||
Newalta Corp. | ||||||||||||
Series 2 | ||||||||||||
7.75%, 11/14/19 (Call 11/14/15) | CAD | 50 | 43,189 | |||||||||
Noralta Lodge Ltd. | ||||||||||||
7.50%, 09/24/19 (Call 09/24/16)a | CAD | 100 | 72,652 | |||||||||
NRL Energy Investments Ltd. | ||||||||||||
8.25%, 04/13/18 (Call 06/01/15) | CAD | 100 | 62,745 | |||||||||
Paramount Resources Ltd. | ||||||||||||
7.63%, 12/04/19 (Call 12/04/15) | CAD | 400 | 339,319 | |||||||||
8.25%, 12/13/17 (Call 06/01/15) | CAD | 300 | 254,489 | |||||||||
Parkland Fuel Corp. | ||||||||||||
5.50%, 05/28/21 (Call 05/28/17) | CAD | 250 | 206,398 | |||||||||
6.00%, 11/21/22 (Call 11/21/17) | CAD | 150 | 128,173 | |||||||||
Perpetual Energy Inc. | ||||||||||||
8.75%, 03/15/18 (Call 06/01/15)a | CAD | 200 | 151,909 | |||||||||
8.75%, 07/23/19 (Call 07/23/16) | CAD | 100 | 73,891 | |||||||||
Postmedia Network Inc. | ||||||||||||
8.25%, 08/16/17 (Call 08/16/15)c | CAD | 128 | 108,253 | |||||||||
Precision Drilling Corp. | ||||||||||||
6.50%, 03/15/19 (Call 06/01/15) | CAD | 150 | 125,077 | |||||||||
Quebecor Media Inc. | ||||||||||||
6.63%, 01/15/23c | CAD | 550 | 481,321 | |||||||||
7.38%, 01/15/21 (Call 01/15/16) | CAD | 150 | 131,889 |
Security | Principal (000s) | Value | ||||||||||
River Cree Enterprises LP | ||||||||||||
11.00%, 01/20/21 (Call 01/20/18)c | CAD | 100 | $ | 85,346 | ||||||||
Russel Metals Inc. | ||||||||||||
6.00%, 04/19/22 (Call 04/19/17)c | CAD | 50 | 42,518 | |||||||||
6.00%, 04/19/22 (Call 04/19/17) | CAD | 200 | 170,898 | |||||||||
Sirius XM Canada Holdings Inc. | ||||||||||||
5.63%, 04/23/21 (Call 04/23/17)c | CAD | 200 | 168,008 | |||||||||
Southern Pacific Resource Corp. | ||||||||||||
8.75%, 01/25/18 (Call 06/01/15)c,d | CAD | 50 | 1,858 | |||||||||
Superior Plus LP | ||||||||||||
6.50%, 12/09/21 (Call 12/09/17) | CAD | 200 | 171,723 | |||||||||
Tervita Corp. | ||||||||||||
9.00%, 11/15/18 (Call 11/15/15)c | CAD | 125 | 93,911 | |||||||||
Trilogy Energy Corp. | ||||||||||||
7.25%, 12/13/19 (Call 12/13/15)c | CAD | 250 | 200,206 | |||||||||
Valeant Pharmaceuticals International Inc. | ||||||||||||
4.50%, 05/15/23 (Call 05/15/18)a | EUR | 1,300 | 1,471,282 | |||||||||
Vermilion Energy Inc. | ||||||||||||
6.50%, 02/10/16 (Call 06/01/15) | CAD | 100 | 82,848 | |||||||||
Videotron Ltd. | ||||||||||||
5.63%, 06/15/25 (Call 03/15/25) | CAD | 375 | 319,236 | |||||||||
6.88%, 07/15/21 (Call 06/15/16) | CAD | 225 | 198,472 | |||||||||
7.13%, 01/15/20 (Call 06/01/15) | CAD | 200 | 171,103 | |||||||||
Wajax Corp. | ||||||||||||
6.13%, 10/23/20 (Call 10/23/17)a | CAD | 100 | 82,559 | |||||||||
Yellow Pages Digital & Media Solutions Ltd. | ||||||||||||
9.25%, 11/30/18 (Call 06/01/15)c | CAD | 374 | 323,162 | |||||||||
|
| |||||||||||
10,075,771 |
30 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
CAYMAN ISLANDS — 0.72% | ||||||||||||
Brakes Capital | ||||||||||||
7.13%, 12/15/18 (Call 12/15/15)c | GBP | 100 | $ | 156,364 | ||||||||
7.13%, 12/15/18 (Call 12/15/15)a | GBP | 300 | 469,093 | |||||||||
UPCB Finance IV Ltd. | ||||||||||||
4.00%, 01/15/27 (Call 01/15/21)a | EUR | 500 | 558,202 | |||||||||
Viridian Group FundCo II Ltd. | ||||||||||||
7.50%, 03/01/20 (Call 09/01/17)a | EUR | 550 | 631,710 | |||||||||
|
| |||||||||||
1,815,369 | ||||||||||||
DENMARK — 0.27% | ||||||||||||
TDC A/S | ||||||||||||
3.50%, 02/26/49 (Call 02/26/21)a,b | EUR | 600 | 670,985 | |||||||||
|
| |||||||||||
670,985 | ||||||||||||
FINLAND — 0.79% | ||||||||||||
Nokia OYJ | ||||||||||||
6.75%, 02/04/19a | EUR | 400 | 534,450 | |||||||||
Stora Enso OYJ | ||||||||||||
5.00%, 03/19/18a | EUR | 550 | 678,385 | |||||||||
5.50%, 03/07/19a | EUR | 350 | 447,776 | |||||||||
UPM-Kymmene OYJ | ||||||||||||
6.63%, 01/23/17 | GBP | 200 | 331,487 | |||||||||
|
| |||||||||||
1,992,098 | ||||||||||||
FRANCE — 12.47% | ||||||||||||
3AB Optique Developpement SAS | ||||||||||||
5.63%, 04/15/19 (Call 10/15/15)a | EUR | 300 | 328,399 | |||||||||
Areva SA | ||||||||||||
3.13%, 03/20/23 (Call 12/20/22)a | EUR | 700 | 767,594 | |||||||||
3.25%, 09/04/20a | EUR | 500 | 567,369 | |||||||||
3.50%, 03/22/21 | EUR | 600 | 681,828 | |||||||||
3.88%, 09/23/16 | EUR | 500 | 578,698 | |||||||||
4.38%, 11/06/19 | EUR | 800 | 958,529 | |||||||||
4.63%, 10/05/17 | EUR | 700 | 834,831 | |||||||||
4.88%, 09/23/24 | EUR | 800 | 967,636 | |||||||||
Cegedim SA | ||||||||||||
6.75%, 04/01/20 (Call 04/01/16)a | EUR | 300 | 363,491 |
Security | Principal (000s) | Value | ||||||||||
Cerba European Lab SAS | ||||||||||||
7.00%, 02/01/20 (Call 02/01/16)a | EUR | 350 | $ | 417,685 | ||||||||
CGG SA | ||||||||||||
5.88%, 05/15/20 (Call 05/15/17)a | EUR | 350 | 376,505 | |||||||||
Ciments Francais SA | ||||||||||||
4.75%, 04/04/17 a | EUR | 350 | 417,464 | |||||||||
CMA CGM SA | ||||||||||||
8.75%, 12/15/18 (Call 12/15/15)a | EUR | 200 | 238,677 | |||||||||
8.88%, 04/15/19 (Call 06/01/15)a | EUR | 200 | 233,074 | |||||||||
Crown European Holdings SA | ||||||||||||
3.38%, 05/15/25 | EUR | 175 | 195,361 | |||||||||
4.00%, 07/15/22 (Call 04/15/22)a | EUR | 500 | 598,093 | |||||||||
Darty Financement SAS | ||||||||||||
5.88%, 03/01/21 (Call 03/01/17)a | EUR | 200 | 236,809 | |||||||||
Europcar Groupe SA | ||||||||||||
9.38%, 04/15/18 (Call 06/01/15)a | EUR | 300 | 352,973 | |||||||||
11.50%, 05/15/17a | EUR | 350 | 443,177 | |||||||||
Faurecia | ||||||||||||
Series APR | ||||||||||||
3.13%, 06/15/22 (Call 06/15/18)a | EUR | 150 | 168,746 | |||||||||
3.13%, 06/15/22 (Call 06/15/18)a | EUR | 200 | 224,110 | |||||||||
9.38%, 12/15/16a | EUR | 400 | 506,489 | |||||||||
Financiere Gaillon 8 SAS | ||||||||||||
7.00%, 09/30/19 (Call 03/31/16)a | EUR | 300 | 346,250 | |||||||||
Groupama SA | ||||||||||||
7.88%, 10/27/39 (Call 10/27/19)b | EUR | 650 | 832,148 | |||||||||
Holdikks SAS | ||||||||||||
6.75%, 07/15/21 (Call 07/15/17)a | EUR | 300 | 329,021 | |||||||||
Holding Medi-Partenaires SAS | ||||||||||||
7.00%, 05/15/20 (Call 05/15/16)a | EUR | 400 | 474,553 | |||||||||
HomeVi SAS | ||||||||||||
6.88%, 08/15/21 (Call 08/15/17)a | EUR | 300 | 360,537 |
SCHEDULESOF INVESTMENTS | 31 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Italcementi Finance SA | ||||||||||||
6.13%, 02/21/18a | EUR | 400 | $ | 496,404 | ||||||||
6.63%, 03/19/20a,e | EUR | 750 | 987,905 | |||||||||
La Financiere Atalian SAS | ||||||||||||
7.25%, 01/15/20 (Call 01/15/17)a | EUR | 200 | 242,556 | |||||||||
Labco SA | ||||||||||||
8.50%, 01/15/18 (Call 06/01/15)a | EUR | 475 | 558,209 | |||||||||
Labeyrie Fine Foods SAS | ||||||||||||
5.63%, 03/15/21 (Call 03/15/17)a | EUR | 250 | 294,144 | |||||||||
Lafarge SA | ||||||||||||
4.75%, 03/23/20 | EUR | 450 | 589,339 | |||||||||
4.75%, 09/30/20a | EUR | 600 | 795,675 | |||||||||
5.38%, 06/26/17a | EUR | 450 | 552,188 | |||||||||
5.88%, 07/09/19a | EUR | 400 | 534,919 | |||||||||
6.25%, 04/13/18a | EUR | 400 | 504,239 | |||||||||
6.63%, 11/29/18a | EUR | 950 | 1,232,185 | |||||||||
6.75%, 12/16/19a | EUR | 600 | 808,025 | |||||||||
8.88%, 11/24/16a | EUR | 600 | 753,010 | |||||||||
Loxam SAS | ||||||||||||
4.88%, 07/23/21 (Call 07/23/17)a | EUR | 300 | 349,612 | |||||||||
7.00%, 07/23/22 (Call 07/23/17)a | EUR | 250 | 288,542 | |||||||||
7.38%, 01/24/20 (Call 01/24/16)a | EUR | 250 | 301,148 | |||||||||
Nexans SA | ||||||||||||
4.25%, 03/19/18 | EUR | 200 | 239,798 | |||||||||
5.75%, 05/02/17 | EUR | 300 | 363,899 | |||||||||
Novafives SAS | ||||||||||||
4.50%, 06/30/21 (Call 06/30/17)a | EUR | 350 | 386,800 | |||||||||
Novalis SAS | ||||||||||||
3.00%, 04/30/22 (Call 04/30/18)a | EUR | 225 | 251,098 | |||||||||
Numericable-SFR SAS | ||||||||||||
5.38%, 05/15/22 (Call 05/15/17)a | EUR | 850 | 997,710 | |||||||||
5.63%, 05/15/24 (Call 05/15/19)a | EUR | 1,100 | 1,301,939 | |||||||||
Paprec Holding | ||||||||||||
5.25%, 04/01/22 (Call 04/01/18)a | EUR | 200 | 232,514 |
Security | Principal (000s) | Value | ||||||||||
Peugeot SA | ||||||||||||
5.00%, 10/28/16 | EUR | 550 | $ | 651,671 | ||||||||
5.63%, 07/11/17 | EUR | 500 | 613,268 | |||||||||
6.50%, 01/18/19a | EUR | 600 | 784,538 | |||||||||
7.38%, 03/06/18a | EUR | 750 | 975,074 | |||||||||
Rexel SA | ||||||||||||
5.13%, 06/15/20 (Call 06/15/16)a | EUR | 600 | 719,393 | |||||||||
SGD Group SAS | ||||||||||||
5.63%, 05/15/19 (Call 10/15/15)a | EUR | 300 | 346,250 | |||||||||
SMCP SAS | ||||||||||||
8.88%, 06/15/20 (Call 06/15/16)a | EUR | 200 | 243,720 | |||||||||
SPCM SA | ||||||||||||
2.88%, 06/15/23 (Call 06/15/18)a | EUR | 250 | 281,538 | |||||||||
Tereos Finance Groupe I | ||||||||||||
4.25%, 03/04/20 (Call 03/04/19) | EUR | 400 | 448,862 | |||||||||
THOM Europe SAS | ||||||||||||
7.38%, 07/15/19 (Call 07/15/16)a | EUR | 300 | 352,553 | |||||||||
|
| |||||||||||
31,278,772 | ||||||||||||
GERMANY — 8.39% | ||||||||||||
Bayerische Landbank | ||||||||||||
5.75%, 10/23/17 | EUR | 800 | 978,116 | |||||||||
CeramTec Group GmbH | ||||||||||||
8.25%, 08/15/21 (Call 08/15/16)a | EUR | 200 | 246,521 | |||||||||
Commerzbank AG | ||||||||||||
6.38%, 03/22/19 | EUR | 1,100 | 1,433,478 | |||||||||
7.75%, 03/16/21 | EUR | 1,200 | 1,697,361 | |||||||||
Deutsche Lufthansa AG | ||||||||||||
1.13%, 09/12/19a | EUR | 450 | 504,458 | |||||||||
6.50%, 07/07/16 | EUR | 100 | 119,792 | |||||||||
Deutsche Raststaetten Gruppe IV GmbH | ||||||||||||
6.75%, 12/30/20 (Call 12/30/16)a | EUR | 400 | 489,680 | |||||||||
Franz Haniel & Cie GmbH | ||||||||||||
5.88%, 02/01/17 | EUR | 250 | 303,697 | |||||||||
FTE Verwaltungs GmbH | ||||||||||||
9.00%, 07/15/20 (Call 07/15/16)a | EUR | 200 | 240,078 |
32 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Hapag-Lloyd AG | ||||||||||||
7.50%, 10/15/19 (Call 10/15/16)a | EUR | 200 | $ | 236,436 | ||||||||
7.75%, 10/01/18 (Call 10/01/15)a | EUR | 300 | 352,133 | |||||||||
Heckler & Koch GmbH | ||||||||||||
9.50%, 05/15/18 (Call 06/01/15)a | EUR | 300 | 248,762 | |||||||||
Heidelberger Druckmaschinen AG | ||||||||||||
9.25%, 04/15/18 (Call 06/01/15)a | EUR | 211 | 244,955 | |||||||||
Hornbach Baumarkt AG | ||||||||||||
3.88%, 02/15/20a | EUR | 250 | 306,009 | |||||||||
HP Pelzer Holding GmbH | ||||||||||||
7.50%, 07/15/21 (Call 07/15/17)a | EUR | 250 | 302,198 | |||||||||
KraussMaffei Group GmbH | ||||||||||||
8.75%, 12/15/20 (Call 12/15/15)a | EUR | 180 | 219,852 | |||||||||
Norddeutsche Landesbank Girozentrale | ||||||||||||
6.00%, 06/29/20 | EUR | 400 | 538,536 | |||||||||
Pfleiderer GmbH | ||||||||||||
7.88%, 08/01/19 (Call 08/01/16)a | EUR | 250 | 289,942 | |||||||||
ProGroup AG | ||||||||||||
5.13%, 05/01/22 (Call 05/01/18)a | EUR | 100 | 114,436 | |||||||||
Rheinmetall AG | ||||||||||||
5.25%, 09/22/17 | EUR | 400 | 489,843 | |||||||||
SGL Carbon SE | ||||||||||||
4.88%, 01/15/21 (Call 01/15/17)a | EUR | 200 | 239,820 | |||||||||
Techem Energy Metering Service GmbH & Co. KG | ||||||||||||
7.88%, 10/01/20 (Call 10/01/16)a | EUR | 300 | 369,781 | |||||||||
Techem GmbH | ||||||||||||
6.13%, 10/01/19 (Call 10/01/15)a | EUR | 400 | 475,113 | |||||||||
ThyssenKrupp AG | ||||||||||||
1.75%, 11/25/20 (Call 08/25/20)a | EUR | 675 | 753,724 |
Security | Principal (000s) | Value | ||||||||||
2.50%, 02/25/25a | EUR | 550 | $ | 613,534 | ||||||||
3.13%, 10/25/19 (Call 07/25/19)a | EUR | 1,000 | 1,182,715 | |||||||||
4.00%, 08/27/18 | EUR | 1,350 | 1,632,175 | |||||||||
4.38%, 02/28/17 | EUR | 1,100 | 1,304,703 | |||||||||
Trionista Holdco GmbH | ||||||||||||
5.00%, 04/30/20 (Call 04/30/16)a | EUR | 300 | 351,292 | |||||||||
Trionista TopCo GmbH | ||||||||||||
6.88%, 04/30/21 (Call 04/30/16)a | EUR | 400 | 484,078 | |||||||||
TUI AG | ||||||||||||
4.50%, 10/01/19 (Call 10/01/16)a | EUR | 250 | 295,545 | |||||||||
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH | ||||||||||||
3.50%, 01/15/27 (Call 01/15/21)a | EUR | 300 | 334,064 | |||||||||
4.00%, 01/15/25 (Call 01/15/20)a | EUR | 800 | 921,092 | |||||||||
5.13%, 01/21/23 (Call 01/21/18)a | EUR | 270 | 322,607 | |||||||||
5.50%, 09/15/22 (Call 09/15/17)a | EUR | 540 | 651,992 | |||||||||
5.63%, 04/15/23 (Call 04/15/18)a | EUR | 360 | 437,687 | |||||||||
5.75%, 01/15/23 (Call 01/15/18)a | EUR | 360 | 437,687 | |||||||||
Unitymedia KabelBW GmbH | ||||||||||||
3.75%, 01/15/27 (Call 01/15/21)a | EUR | 600 | 653,841 | |||||||||
WEPA Hygieneprodukte GmbH | ||||||||||||
6.50%, 05/15/20 (Call 05/15/16)a | EUR | 200 | 241,759 | |||||||||
|
| |||||||||||
21,059,492 | ||||||||||||
ICELAND — 0.04% | ||||||||||||
Arion Banki HF | ||||||||||||
3.13%, 03/12/18a | EUR | 100 | 111,495 | |||||||||
|
| |||||||||||
111,495 | ||||||||||||
IRELAND — 3.18% | ||||||||||||
Allied Irish Banks PLC | ||||||||||||
1.38%, 03/16/20a | EUR | 400 | 444,993 | |||||||||
2.75%, 04/16/19a | EUR | 500 | 589,353 | |||||||||
2.88%, 11/28/16a | EUR | 350 | 403,684 |
SCHEDULESOF INVESTMENTS | 33 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Ardagh Packaging Finance PLC | ||||||||||||
9.25%, 10/15/20 (Call 10/15/15)a | EUR | 300 | $ | 359,310 | ||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. | ||||||||||||
4.25%, 01/15/22 (Call 06/30/17)a | EUR | 1,000 | 1,144,362 | |||||||||
Bank of Ireland | ||||||||||||
1.25%, 04/09/20a | EUR | 600 | 666,239 | |||||||||
2.00%, 05/08/17a | EUR | 500 | 570,494 | |||||||||
2.75%, 06/05/16 | EUR | 150 | 171,468 | |||||||||
3.25%, 01/15/19a | EUR | 550 | 660,015 | |||||||||
4.25%, 06/11/24 (Call 06/11/19)a,b | EUR | 650 | 752,029 | |||||||||
10.00%, 12/19/22a | EUR | 200 | 307,031 | |||||||||
eircom Finance Ltd. | ||||||||||||
9.25%, 05/15/20 (Call 05/15/16)a | EUR | 300 | 366,420 | |||||||||
Smurfit Kappa Acquisitions | ||||||||||||
2.75%, 02/01/25a | EUR | 250 | 287,841 | |||||||||
3.25%, 06/01/21 (Call 03/10/21)a | EUR | 500 | 596,693 | |||||||||
4.13%, 01/30/20a | EUR | 250 | 308,151 | |||||||||
UT2 Funding PLC | ||||||||||||
5.32%, 06/30/16 | EUR | 300 | 342,888 | |||||||||
|
| |||||||||||
7,970,971 | ||||||||||||
ITALY — 15.08% | ||||||||||||
Astaldi SpA | ||||||||||||
7.13%, 12/01/20 (Call 12/01/16)a | EUR | 650 | 782,074 | |||||||||
Autostrada Brescia Verona Vicenza Padova SpA | ||||||||||||
2.38%, 03/20/20a | EUR | 450 | 503,541 | |||||||||
Banca Monte dei Paschi di Siena SpA | ||||||||||||
3.63%, 04/01/19a | EUR | 1,000 | 1,159,900 | |||||||||
4.88%, 05/31/16 | EUR | 400 | 451,582 | |||||||||
5.00%, 04/21/20a | EUR | 400 | 460,546 | |||||||||
5.60%, 09/09/20 | EUR | 400 | 472,872 | |||||||||
Banca Popolare di Milano Scarl | ||||||||||||
4.25%, 01/30/19a | EUR | 350 | 426,028 | |||||||||
7.13%, 03/01/21a | EUR | 500 | 657,200 |
Security | Principal (000s) | Value | ||||||||||
Banca Popolare di Vicenza | ||||||||||||
2.75%, 03/20/20a | EUR | 600 | $ | 666,279 | ||||||||
3.50%, 01/20/17a | EUR | 500 | 569,199 | |||||||||
5.00%, 10/25/18a | EUR | 200 | 238,712 | |||||||||
Banco Popolare SC | ||||||||||||
2.38%, 01/22/18a | EUR | 700 | 798,033 | |||||||||
3.50%, 03/14/19a | EUR | 1,100 | 1,293,844 | |||||||||
3.75%, 01/28/16a | EUR | 500 | 570,864 | |||||||||
6.00%, 11/05/20a | EUR | 600 | 741,227 | |||||||||
6.38%, 05/31/21a | EUR | 300 | 379,715 | |||||||||
Buzzi Unicem SpA | ||||||||||||
5.13%, 12/09/16a | EUR | 200 | 237,698 | |||||||||
6.25%, 09/28/18a | EUR | 350 | 449,617 | |||||||||
Cerved Group SpA | ||||||||||||
6.38%, 01/15/20 (Call 01/15/16)a | EUR | 300 | 353,814 | |||||||||
Cooperativa Muratori & Cementisti-CMC di Ravenna SC | ||||||||||||
7.50%, 08/01/21 (Call 08/01/17)a | EUR | 250 | 260,528 | |||||||||
Enel SpA | ||||||||||||
5.00%, 01/15/75 (Call 01/15/20)a,b | EUR | 800 | 969,276 | |||||||||
6.50%, 01/10/74 (Call 01/10/19)a,b | EUR | 1,150 | 1,440,047 | |||||||||
Iccrea Banca SpA | ||||||||||||
1.88%, 11/25/19a | EUR | 350 | 401,972 | |||||||||
Intesa Sanpaolo SpA | ||||||||||||
2.86%, 04/23/25a | EUR | 500 | 551,150 | |||||||||
3.93%, 09/15/26a | EUR | 850 | 1,020,399 | |||||||||
5.00%, 09/23/19a | EUR | 900 | 1,133,578 | |||||||||
5.15%, 07/16/20 | EUR | 800 | 1,028,811 | |||||||||
6.63%, 05/08/18a | EUR | 200 | 253,536 | |||||||||
6.63%, 09/13/23a | EUR | 1,250 | 1,763,045 | |||||||||
IVS F SpA | ||||||||||||
7.13%, 04/01/20 (Call 04/01/16)a | EUR | 200 | 235,315 | |||||||||
Manutencoop Facility Management SpA | ||||||||||||
8.50%, 08/01/20 (Call 08/01/16)a | EUR | 300 | 313,911 | |||||||||
Mediobanca SpA | ||||||||||||
5.00%, 11/15/20 | EUR | 650 | 814,376 |
34 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Series 0000 | ||||||||||||
5.75%, 04/18/23 | EUR | 400 | $ | 528,028 | ||||||||
Piaggio & C SpA | ||||||||||||
4.63%, 04/30/21 (Call 04/30/17)a | EUR | 200 | 236,167 | |||||||||
Rhino Bondco SpA | ||||||||||||
7.25%, 11/15/20 (Call 11/01/16)a | EUR | 200 | 239,798 | |||||||||
Salini Costruttori SpA | ||||||||||||
6.13%, 08/01/18 | EUR | 300 | 376,453 | |||||||||
Sisal Group SpA | ||||||||||||
7.25%, 09/30/17 (Call 05/11/15)a | EUR | 200 | 223,550 | |||||||||
Snai SpA | ||||||||||||
7.63%, 06/15/18 (Call 12/15/15)a | EUR | 300 | 352,133 | |||||||||
TeamSystem Holding SpA | ||||||||||||
7.38%, 05/15/20 (Call 05/15/16)a | EUR | 365 | 432,518 | |||||||||
Telecom Italia SpA | ||||||||||||
3.25%, 01/16/23a | EUR | 800 | 949,599 | |||||||||
4.00%, 01/21/20a | EUR | 275 | 338,847 | |||||||||
4.50%, 09/20/17a | EUR | 400 | 485,091 | |||||||||
4.50%, 01/25/21a | EUR | 250 | 317,470 | |||||||||
4.75%, 05/25/18a | EUR | 500 | 617,306 | |||||||||
4.88%, 09/25/20a | EUR | 200 | 257,598 | |||||||||
5.25%, 02/10/22a | EUR | 350 | 468,543 | |||||||||
5.38%, 01/29/19a | EUR | 700 | 891,992 | |||||||||
6.13%, 12/14/18 | EUR | 450 | 585,168 | |||||||||
6.38%, 06/24/19 | GBP | 400 | 681,755 | |||||||||
7.00%, 01/20/17a | EUR | 400 | 495,745 | |||||||||
8.25%, 03/21/16 | EUR | 150 | 179,194 | |||||||||
UniCredit SpA | ||||||||||||
5.75%, 09/26/17 | EUR | 900 | 1,111,766 | |||||||||
5.75%, 10/28/25 (Call 10/28/20)a,b | EUR | 900 | 1,124,573 | |||||||||
6.13%, 04/19/21 | EUR | 600 | 778,961 | |||||||||
6.70%, 06/05/18 | EUR | 650 | 830,327 | |||||||||
6.95%, 10/31/22a | EUR | 1,250 | 1,710,193 | |||||||||
Unipol Gruppo Finanziario SpA | ||||||||||||
3.00%, 03/18/25a | EUR | 850 | 935,990 | |||||||||
4.38%, 03/05/21a | EUR | 240 | 302,928 |
Security | Principal (000s) | Value | ||||||||||
Veneto Banca SCPA | ||||||||||||
4.00%, 01/20/17a | EUR | 450 | $ | 514,231 | ||||||||
4.00%, 05/20/19a | EUR | 300 | 346,381 | |||||||||
4.25%, 01/18/16a | EUR | 100 | 113,306 | |||||||||
|
| |||||||||||
37,824,300 | ||||||||||||
JAPAN — 0.27% | ||||||||||||
SoftBank Corp. | ||||||||||||
4.63%, 04/15/20a | EUR | 550 | 679,473 | |||||||||
|
| |||||||||||
679,473 | ||||||||||||
JERSEY — 1.29% | ||||||||||||
AA Bond Co. Ltd. | ||||||||||||
5.50%, 07/31/43 (Call 07/31/18)a | GBP | 600 | 935,881 | |||||||||
9.50%, 07/31/43 (Call 01/31/16)a | GBP | 600 | 1,016,560 | |||||||||
Aston Martin Capital Ltd. | ||||||||||||
9.25%, 07/15/18 | GBP | 100 | 157,517 | |||||||||
9.25%, 07/15/18 (Call 06/01/15)a | GBP | 200 | 315,034 | |||||||||
Avis Budget Finance PLC | ||||||||||||
6.00%, 03/01/21 (Call 03/01/16)a | EUR | 400 | 476,551 | |||||||||
Hastings Insurance Group Finance PLC | ||||||||||||
8.00%, 10/21/20 (Call 10/30/16)c | GBP | 100 | 164,816 | |||||||||
8.00%, 10/21/20 (Call 10/30/16)a | GBP | 100 | 164,816 | |||||||||
|
| |||||||||||
3,231,175 | ||||||||||||
LUXEMBOURG — 16.79% | ||||||||||||
Aldesa Financial Services SA | ||||||||||||
7.25%, 04/01/21 (Call 04/01/17)a | EUR | 150 | 152,115 | |||||||||
Altice Financing SA | ||||||||||||
5.25%, 02/15/23 (Call 02/15/18)a | EUR | 500 | 588,935 | |||||||||
6.50%, 01/15/22 (Call 12/15/16)a | EUR | 250 | 302,184 | |||||||||
Altice Finco SA | ||||||||||||
9.00%, 06/15/23 (Call 06/15/18)a | EUR | 200 | 259,127 |
SCHEDULESOF INVESTMENTS | 35 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Altice SA | ||||||||||||
6.25%, 02/15/25 (Call 02/15/20)a | EUR | 750 | $ | 842,513 | ||||||||
7.25%, 05/15/22 (Call 05/15/17)a | EUR | 1,750 | 2,029,596 | |||||||||
ArcelorMittal | ||||||||||||
2.88%, 07/06/20a | EUR | 400 | 448,890 | |||||||||
3.00%, 03/25/19a | EUR | 900 | 1,031,180 | |||||||||
3.00%, 04/09/21a | EUR | 200 | 224,354 | |||||||||
3.13%, 01/14/22a | EUR | 700 | 788,307 | |||||||||
5.75%, 03/29/18a | EUR | 400 | 497,166 | |||||||||
5.88%, 11/17/17a | EUR | 750 | 925,196 | |||||||||
10.63%, 06/03/16 | EUR | 650 | 804,477 | |||||||||
Auris Luxembourg II SA | ||||||||||||
8.00%, 01/15/23 (Call 01/15/18)a | EUR | 200 | 243,720 | |||||||||
Befesa Zinc SAU Via Zinc Capital SA | ||||||||||||
8.88%, 05/15/18 (Call 06/01/15)a | EUR | 300 | 351,041 | |||||||||
Bormioli Rocco Holdings SA | ||||||||||||
10.00%, 08/01/18 (Call 06/01/15)a | EUR | 200 | 229,713 | |||||||||
Cabot Financial Luxembourg SA | ||||||||||||
10.38%, 10/01/19 (Call 10/01/15)a | GBP | 150 | 252,987 | |||||||||
Cirsa Funding Luxembourg SA | ||||||||||||
5.88%, 05/15/23 | EUR | 325 | 358,261 | |||||||||
8.75%, 05/15/18 (Call 06/01/15)a | EUR | 600 | 689,138 | |||||||||
Clariant Finance Luxembourg SA | ||||||||||||
5.63%, 01/24/17 | EUR | 400 | 486,443 | |||||||||
CNH Industrial Finance Europe SA | ||||||||||||
2.75%, 03/18/19a | EUR | 800 | 914,817 | |||||||||
2.88%, 09/27/21a | EUR | 550 | 629,861 | |||||||||
6.25%, 03/09/18a | EUR | 1,100 | 1,374,601 | |||||||||
ConvaTec Healthcare E SA | ||||||||||||
7.38%, 12/15/17 (Call 06/01/15)a | EUR | 150 | 174,806 | |||||||||
10.88%, 12/15/18 (Call 06/01/15)a | EUR | 250 | 296,946 |
Security | Principal (000s) | Value | ||||||||||
Dufry Finance SCA | ||||||||||||
4.50%, 07/15/22 (Call 07/15/17)a | EUR | 450 | $ | 533,242 | ||||||||
Fiat Chrysler Finance Europe | ||||||||||||
4.75%, 03/22/21a | EUR | 650 | 799,870 | |||||||||
4.75%, 07/15/22a | EUR | 1,000 | 1,241,832 | |||||||||
6.38%, 04/01/16a | EUR | 400 | 468,061 | |||||||||
6.63%, 03/15/18a | EUR | 800 | 1,001,773 | |||||||||
6.75%, 10/14/19a | EUR | 700 | 915,701 | |||||||||
7.00%, 03/23/17a | EUR | 700 | 856,853 | |||||||||
7.38%, 07/09/18 | EUR | 300 | 386,037 | |||||||||
7.75%, 10/17/16a | EUR | 600 | 729,492 | |||||||||
Findus Bondco SA | ||||||||||||
9.13%, 07/01/18 (Call 07/01/15)a | EUR | 200 | 236,436 | |||||||||
Finmeccanica SA | ||||||||||||
8.00%, 12/16/19 | GBP | 350 | 641,132 | |||||||||
Finmeccanica SpA | ||||||||||||
4.50%, 01/19/21 | EUR | 750 | 941,495 | |||||||||
FMC Finance VI SA | ||||||||||||
5.50%, 07/15/16a | EUR | 300 | 354,693 | |||||||||
FMC Finance VII SA | ||||||||||||
5.25%, 02/15/21a | EUR | 200 | 268,414 | |||||||||
FMC Finance VIII SA | ||||||||||||
5.25%, 07/31/19a | EUR | 250 | 324,959 | |||||||||
6.50%, 09/15/18a | EUR | 350 | 460,336 | |||||||||
Galapagos Holding SA | ||||||||||||
7.00%, 06/15/22 (Call 06/15/17)a | EUR | 100 | 106,452 | |||||||||
Galapagos SA/Luxembourg | ||||||||||||
5.38%, 06/15/21 (Call 06/15/17)a | EUR | 150 | 170,385 | |||||||||
Gategroup Finance Luxembourg SA | ||||||||||||
6.75%, 03/01/19 (Call 06/01/15)a | EUR | 200 | 235,315 | |||||||||
GCS Holdco Finance I SA | ||||||||||||
6.50%, 11/15/18 (Call 11/15/15)a | EUR | 350 | 409,841 | |||||||||
Geo Debt Finance SCA | ||||||||||||
7.50%, 08/01/18 (Call 06/01/15)a | EUR | 200 | 216,826 |
36 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Gestamp Funding Luxembourg SA | ||||||||||||
5.88%, 05/31/20 (Call 05/31/16)a | EUR | 350 | $ | 413,763 | ||||||||
HeidelbergCement Finance Luxembourg SA | ||||||||||||
2.25%, 03/12/19a | EUR | 450 | 526,046 | |||||||||
3.25%, 10/21/20a | EUR | 350 | 431,412 | |||||||||
3.25%, 10/21/21a | EUR | 400 | 500,886 | |||||||||
5.63%, 01/04/18 | EUR | 500 | 625,762 | |||||||||
7.50%, 04/03/20a | EUR | 600 | 863,944 | |||||||||
8.00%, 01/31/17a | EUR | 850 | 1,069,710 | |||||||||
8.50%, 10/31/19a | EUR | 450 | 660,027 | |||||||||
9.50%, 12/15/18a | EUR | 400 | 579,181 | |||||||||
INEOS Group Holdings SA | ||||||||||||
5.75%, 02/15/19 (Call 02/15/16)a | EUR | 550 | 630,940 | |||||||||
6.50%, 08/15/18 (Call 06/01/15)a | EUR | 350 | 405,919 | |||||||||
Intralot Capital Luxembourg SA | ||||||||||||
6.00%, 05/15/21 (Call 05/15/17)a | EUR | 250 | 249,322 | |||||||||
Intralot Finance Luxembourg SA | ||||||||||||
9.75%, 08/15/18 (Call 08/15/16)a | EUR | 250 | 284,340 | |||||||||
KION Finance SA | ||||||||||||
6.75%, 02/15/20 (Call 02/15/16)a | EUR | 350 | 419,156 | |||||||||
Magnolia BC SA | ||||||||||||
9.00%, 08/01/20 (Call 08/01/16)a | EUR | 300 | 359,697 | |||||||||
Matterhorn Telecom SA | ||||||||||||
3.88%, 05/01/22 (Call 05/01/18)a | EUR | 250 | 276,300 | |||||||||
PagesJaunes Finance & Co. SCA | ||||||||||||
8.88%, 06/01/18 (Call 05/11/15)a | EUR | 200 | 226,911 | |||||||||
Picard Bondco SA | ||||||||||||
7.75%, 02/01/20 (Call 08/01/16)a | EUR | 350 | 427,098 | |||||||||
Servus Luxembourg Holding SCA | ||||||||||||
7.75%, 06/15/18 (Call 06/15/15)a | EUR | 163 | 189,727 |
Security | Principal (000s) | Value | ||||||||||
SIG Combibloc Holdings SCA | ||||||||||||
7.75%, 02/15/23 (Call 02/15/18)a | EUR | 550 | $ | 659,444 | ||||||||
Takko Luxembourg 2 SCA | ||||||||||||
9.88%, 04/15/19 (Call 04/15/16)a | EUR | 300 | 161,359 | |||||||||
Telenet Finance III Luxembourg SCA | ||||||||||||
6.63%, 02/15/21 (Call 02/15/16)a | EUR | 300 | 356,698 | |||||||||
Telenet Finance Luxembourg SCA | ||||||||||||
6.38%, 11/15/20 (Call 11/15/15)a | EUR | 500 | 589,758 | |||||||||
Telenet Finance V Luxembourg SCA | ||||||||||||
6.25%, 08/15/22 (Call 08/15/17)a | EUR | 350 | 425,039 | |||||||||
6.75%, 08/15/24 (Call 08/15/18)a | EUR | 200 | 249,360 | |||||||||
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc. | ||||||||||||
6.38%, 05/01/22 (Call 01/05/18)a | EUR | 150 | 169,763 | |||||||||
Wind Acquisition Finance SA | ||||||||||||
4.00%, 07/15/20 (Call 07/15/16)a | EUR | 2,200 | 2,499,106 | |||||||||
7.00%, 04/23/21 (Call 04/23/17)a | EUR | 1,400 | 1,676,623 | |||||||||
|
| |||||||||||
42,122,810 | ||||||||||||
NETHERLANDS — 6.61% | ||||||||||||
Atradius Finance BV | ||||||||||||
5.25%, 09/23/44 (Call 09/23/24)a,b | EUR | 250 | 279,801 | |||||||||
Carlson Wagonlit BV | ||||||||||||
7.50%, 06/15/19 (Call 06/15/15)a | EUR | 300 | 357,448 | |||||||||
Constellium NV | ||||||||||||
4.63%, 05/15/21 (Call 05/15/17)a | EUR | 250 | 270,333 | |||||||||
Fresenius Finance BV | ||||||||||||
2.38%, 02/01/19a | EUR | 200 | 236,100 | |||||||||
2.88%, 07/15/20a | EUR | 350 | 425,137 |
SCHEDULESOF INVESTMENTS | 37 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
3.00%, 02/01/21a | EUR | 450 | $ | 549,126 | ||||||||
4.00%, 02/01/24a | EUR | 350 | 462,356 | |||||||||
4.25%, 04/15/19a | EUR | 500 | 628,208 | |||||||||
Frigoglass Finance BV | ||||||||||||
8.25%, 05/15/18 (Call 06/01/15)a | EUR | 200 | 206,181 | |||||||||
General Motors Financial International BV | ||||||||||||
0.85%, 02/23/18a | EUR | 500 | 556,353 | |||||||||
1.88%, 10/15/19a | EUR | 450 | 514,988 | |||||||||
Goodyear Dunlop Tires Europe BV | ||||||||||||
6.75%, 04/15/19 (Call 06/01/15)a | EUR | 200 | 232,021 | |||||||||
Grupo Antolin Dutch BV | ||||||||||||
4.75%, 04/01/21 (Call 04/01/17)a | EUR | 350 | 402,507 | |||||||||
Grupo Isolux Corsan Finance BV | ||||||||||||
6.63%, 04/15/21 (Call 04/15/17)a | EUR | 700 | 674,571 | |||||||||
Hema Bondco I BV | ||||||||||||
6.25%, 06/15/19 (Call 06/15/16)a | EUR | 300 | 301,708 | |||||||||
Hertz Holdings Netherlands BV | ||||||||||||
4.38%, 01/15/19a | EUR | 350 | 398,075 | |||||||||
InterXion Holding NV | ||||||||||||
6.00%, 07/15/20 (Call 07/15/16)a | EUR | 450 | 539,545 | |||||||||
LGE HoldCo VI BV | ||||||||||||
7.13%, 05/15/24 (Call 05/15/19)a | EUR | 600 | 758,052 | |||||||||
Nyrstar Netherlands Holdings BV | ||||||||||||
8.50%, 09/15/19a | EUR | 250 | 299,747 | |||||||||
OI European Group BV | ||||||||||||
4.88%, 03/31/21a | EUR | 200 | 248,202 | |||||||||
6.75%, 09/15/20a | EUR | 500 | 670,929 | |||||||||
Phoenix PIB Dutch Finance BV | ||||||||||||
3.13%, 05/27/20a | EUR | 200 | 234,643 | |||||||||
3.63%, 07/30/21a | EUR | 300 | 355,494 | |||||||||
PortAventura Entertainment Barcelona BV | ||||||||||||
7.25%, 12/01/20 (Call 12/01/16)a | EUR | 200 | 236,436 |
Security | Principal (000s) | Value | ||||||||||
Refresco Gerber NV | ||||||||||||
7.38%, 05/15/18 (Call 06/01/15)a | EUR | 350 | $ | 407,880 | ||||||||
Samvardhana Motherson Automotive Systems Group BV | ||||||||||||
4.13%, 07/15/21 (Call 07/15/17)a | EUR | 400 | 459,426 | |||||||||
Schaeffler Finance BV | ||||||||||||
2.50%, 05/15/20 (Call 05/15/17)a | EUR | 100 | 112,669 | |||||||||
2.75%, 05/15/19 (Call 05/15/16)a | EUR | 350 | 396,605 | |||||||||
3.25%, 05/15/19 (Call 05/15/16)a | EUR | 450 | 514,332 | |||||||||
3.25%, 05/15/25 (Call 05/15/20)a | EUR | 500 | 566,079 | |||||||||
3.50%, 05/15/22 (Call 05/15/17)a | EUR | 500 | 577,083 | |||||||||
4.25%, 05/15/18 (Call 06/01/15)a | EUR | 450 | 516,274 | |||||||||
Selecta Group BV | ||||||||||||
6.50%, 06/15/20 (Call 12/15/16)a | EUR | 300 | 340,367 | |||||||||
SNS BANK NV | ||||||||||||
6.25%, 10/26/20 | EUR | 50 | — | |||||||||
Stork Technical Services Holdings BV | ||||||||||||
11.00%, 08/15/17 (Call 06/01/15)a | EUR | 200 | 218,507 | |||||||||
Univeg Holding BV | ||||||||||||
7.88%, 11/15/20 (Call 11/15/16)a | EUR | 250 | 296,245 | |||||||||
UPC Holding BV | ||||||||||||
6.38%, 09/15/22 (Call 09/15/17)a | EUR | 500 | 602,296 | |||||||||
6.75%, 03/15/23 (Call 03/15/18)a | EUR | 400 | 491,921 | |||||||||
Ziggo Bond Finance BV | ||||||||||||
4.63%, 01/15/25 (Call 01/15/20)a | EUR | 400 | 460,546 | |||||||||
Ziggo Secured Finance BV | ||||||||||||
3.75%, 01/15/25 (Call 01/15/20)a | EUR | 700 | 794,190 | |||||||||
|
| |||||||||||
16,592,381 |
38 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
NORWAY — 0.65% | ||||||||||||
Lock AS | ||||||||||||
7.00%, 08/15/21 (Call 08/15/17)a | EUR | 500 | $ | 607,898 | ||||||||
Lock Lower Holding AS | ||||||||||||
9.50%, 08/15/22 (Call 08/15/18)a | EUR | 200 | 247,642 | |||||||||
Norske Skog AS | ||||||||||||
11.75%, 12/15/19 (Call 02/15/17)a | EUR | 200 | 235,316 | |||||||||
Norske Skog Holding AS | ||||||||||||
8.00%, 02/24/21 (Call 02/24/18)a | EUR | 92 | 70,555 | |||||||||
Silk Bidco AS | ||||||||||||
7.50%, 02/01/22 (Call 02/01/18)a | EUR | 400 | 469,510 | |||||||||
|
| |||||||||||
1,630,921 | ||||||||||||
PORTUGAL — 1.08% | ||||||||||||
Banco Comercial Portugues SA | ||||||||||||
3.38%, 02/27/17a | EUR | 400 | 456,871 | |||||||||
Novo Banco SA | ||||||||||||
2.63%, 05/08/17a | EUR | 600 | 656,608 | |||||||||
4.00%, 01/21/19a | EUR | 700 | 784,461 | |||||||||
4.75%, 01/15/18a | EUR | 400 | 455,313 | |||||||||
Portucel SA | ||||||||||||
5.38%, 05/15/20 (Call 05/15/16)a | EUR | 300 | 359,696 | |||||||||
|
| |||||||||||
2,712,949 | ||||||||||||
SPAIN — 4.44% | ||||||||||||
Abengoa Finance SAU | ||||||||||||
6.00%, 03/31/21a | EUR | 500 | 523,857 | |||||||||
7.00%, 04/15/20a | EUR | 200 | 216,938 | |||||||||
8.88%, 02/05/18a | EUR | 450 | 529,485 | |||||||||
Abengoa Greenfield SA | ||||||||||||
5.50%, 10/01/19a | EUR | 250 | 256,340 | |||||||||
Almirall SA | ||||||||||||
4.63%, 04/01/21 (Call 04/01/17)a | EUR | 300 | 354,626 | |||||||||
Banco de Sabadell SA | ||||||||||||
2.50%, 12/05/16 | EUR | 600 | 692,231 | |||||||||
6.25%, 04/26/20 | EUR | 350 | 452,982 | |||||||||
Bankia SA | ||||||||||||
3.50%, 01/17/19a | EUR | 900 | 1,088,818 |
Security | Principal (000s) | Value | ||||||||||
4.00%, 05/22/24 (Call 05/22/19)a,b | EUR | 900 | $ | 1,005,974 | ||||||||
4.38%, 02/14/17 | EUR | 400 | 476,401 | |||||||||
Bankinter SA | ||||||||||||
6.38%, 09/11/19 | EUR | 250 | 327,822 | |||||||||
BPE Financiaciones SA | ||||||||||||
2.00%, 02/03/20a | EUR | 600 | 672,619 | |||||||||
2.50%, 02/01/17 | EUR | 500 | 573,031 | |||||||||
2.88%, 05/19/16 | EUR | 600 | 685,003 | |||||||||
CaixaBank SA | ||||||||||||
5.00%, 11/14/23 (Call 11/14/18)a,b | EUR | 600 | 723,877 | |||||||||
Campofrio Food Group SA | ||||||||||||
3.38%, 03/15/22 (Call 03/15/18)a | EUR | 400 | 456,064 | |||||||||
Ence Energia y Celulosa SA | ||||||||||||
7.25%, 02/15/20 (Call 02/15/16)a | EUR | 200 | 241,479 | |||||||||
Mapfre SA | ||||||||||||
5.92%, 07/24/37 (Call 07/24/17)b | EUR | 650 | 782,984 | |||||||||
NH Hotel Group SA | ||||||||||||
6.88%, 11/15/19 (Call 11/15/17)a | EUR | 150 | 184,891 | |||||||||
Obrascon Huarte Lain SA | ||||||||||||
4.75%, 03/15/22 (Call 03/15/18)a | EUR | 350 | 374,054 | |||||||||
5.50%, 03/15/23 (Call 03/15/18)a | EUR | 200 | 216,826 | |||||||||
7.63%, 03/15/20 (Call 03/15/16)a | EUR | 250 | 297,296 | |||||||||
|
| |||||||||||
11,133,598 | ||||||||||||
SWEDEN — 1.61% |
| |||||||||||
Ovako AB | ||||||||||||
6.50%, 06/01/19 (Call 06/01/16)a | EUR | 250 | 280,138 | |||||||||
Perstorp Holding AB | ||||||||||||
9.00%, 05/15/17 (Call 06/01/15)a | EUR | 200 | 236,279 | |||||||||
SSAB AB | ||||||||||||
3.88%, 04/10/19a | EUR | 350 | 402,011 | |||||||||
Stena AB | ||||||||||||
6.13%, 02/01/17a | EUR | 300 | 354,870 |
SCHEDULESOF INVESTMENTS | 39 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Unilabs Subholding AB | ||||||||||||
8.50%, 07/15/18 (Call 07/15/15)a | EUR | 350 | $ | 409,841 | ||||||||
Verisure Holding AB | ||||||||||||
8.75%, 09/01/18 (Call 06/01/15)a | EUR | 350 | 415,724 | |||||||||
8.75%, 12/01/18 (Call 06/01/15)a | EUR | 300 | 358,016 | |||||||||
Volvo Treasury AB | ||||||||||||
4.20%, 06/10/75 (Call 06/10/20)a,b | EUR | 850 | 979,899 | |||||||||
4.85%, 03/10/78 (Call 03/10/23)a,b | EUR | 500 | 591,762 | |||||||||
|
| |||||||||||
4,028,540 | ||||||||||||
UNITED KINGDOM — 15.93% |
| |||||||||||
Algeco Scotsman Global Finance PLC | ||||||||||||
9.00%, 10/15/18 (Call 10/15/15)a | EUR | 200 | 220,188 | |||||||||
Alpha Credit Group PLC | ||||||||||||
3.38%, 06/17/17a | EUR | 400 | 303,748 | |||||||||
Arqiva Broadcast Finance PLC | ||||||||||||
9.50%, 03/31/20 (Call 03/31/16)a | GBP | 500 | 854,817 | |||||||||
Bakkavor Finance 2 PLC | ||||||||||||
8.25%, 02/15/18 (Call 06/01/15)c | GBP | 58 | 92,411 | |||||||||
8.25%, 02/15/18 (Call 06/01/15)a | GBP | 116 | 184,822 | |||||||||
Boparan Finance PLC | ||||||||||||
4.38%, 07/15/21 (Call 07/15/17)a | EUR | 250 | 256,326 | |||||||||
5.25%, 07/15/19 (Call 07/15/16)a | GBP | 250 | 354,413 | |||||||||
5.50%, 07/15/21 (Call 07/15/17)a | GBP | 300 | 406,854 | |||||||||
British Airways PLC | ||||||||||||
8.75%, 08/23/16 | GBP | 250 | 415,014 | |||||||||
Co-Operative Bank PLC/United Kingdom | ||||||||||||
5.13%, 09/20/17 | GBP | 350 | 525,761 | |||||||||
EC Finance PLC | ||||||||||||
5.13%, 07/15/21 (Call 01/15/17)a | EUR | 344 | 405,564 |
Security | Principal (000s) | Value | ||||||||||
Eco-Bat Finance PLC | ||||||||||||
7.75%, 02/15/17 (Call 06/01/15)a | EUR | 300 | $ | 336,165 | ||||||||
Elli Finance UK PLC | ||||||||||||
8.75%, 06/15/19 (Call 06/15/15)c | GBP | 200 | 311,192 | |||||||||
8.75%, 06/15/19 (Call 06/15/15)a | GBP | 100 | 155,596 | |||||||||
Equiniti Newco 2 PLC | ||||||||||||
7.13%, 12/15/18 (Call 06/15/15)a | GBP | 200 | 300,435 | |||||||||
ERB Hellas PLC | ||||||||||||
4.25%, 06/26/18a | EUR | 450 | 311,994 | |||||||||
Gala Electric Casinos PLC | ||||||||||||
11.50%, 06/01/19 (Call 06/01/15)a | GBP | 200 | 318,491 | |||||||||
Gala Group Finance PLC | ||||||||||||
8.88%, 09/01/18 (Call 06/01/15)c | GBP | 90 | 144,531 | |||||||||
8.88%, 09/01/18 (Call 06/01/15)a | GBP | 180 | 289,063 | |||||||||
House of Fraser Funding PLC | ||||||||||||
8.88%, 08/15/18 (Call 06/01/15)a | GBP | 200 | 325,023 | |||||||||
Iceland Bondco PLC | ||||||||||||
6.25%, 07/15/21 (Call 07/15/17)a | GBP | 350 | 465,251 | |||||||||
Infinis PLC | ||||||||||||
7.00%, 02/15/19 (Call 02/15/16)c | GBP | 200 | 325,791 | |||||||||
International Game Technology PLC | ||||||||||||
1.00%, 02/02/18a | EUR | 400 | 499,091 | |||||||||
1.00%, 03/05/20a | EUR | 400 | 469,038 | |||||||||
4.13%, 02/15/20 (Call 11/15/19)a | EUR | 500 | 567,278 | |||||||||
4.75%, 02/15/23 (Call 08/15/22)a | EUR | 750 | 852,178 | |||||||||
International Personal Finance PLC | ||||||||||||
5.75%, 04/07/21a | EUR | 250 | 283,101 | |||||||||
Series APR | ||||||||||||
5.75%, 04/07/21a | EUR | 125 | 140,769 |
40 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Iron Mountain Europe PLC | ||||||||||||
6.13%, 09/15/22 (Call 09/15/17)a | GBP | 400 | $ | 647,033 | ||||||||
Jaguar Land Rover Automotive PLC | ||||||||||||
3.88%, 03/01/23a | GBP | 400 | 608,553 | |||||||||
5.00%, 02/15/22a | GBP | 300 | 492,720 | |||||||||
Jerrold Finco PLC | ||||||||||||
9.75%, 09/15/18 | GBP | 250 | 419,725 | |||||||||
Kerling PLC | ||||||||||||
10.63%, 02/01/17 (Call 06/01/15)a | EUR | 600 | 689,979 | |||||||||
Keystone Financing PLC | ||||||||||||
9.50%, 10/15/19 (Call 10/15/16)a | GBP | 200 | 325,791 | |||||||||
Lowell Group Financing PLC | ||||||||||||
10.75%, 04/01/19 (Call 05/11/15)a | GBP | 200 | 331,938 | |||||||||
Matalan Finance PLC | ||||||||||||
6.88%, 06/01/19 (Call 05/30/16)c | GBP | 200 | 311,960 | |||||||||
6.88%, 06/01/19 (Call 05/30/16)a | GBP | 100 | 155,980 | |||||||||
Merlin Entertainments PLC | ||||||||||||
2.75%, 03/15/22 (Call 12/15/21)a | EUR | 400 | 445,979 | |||||||||
Moy Park Bondco PLC | ||||||||||||
6.25%, 05/29/21 (Call 05/29/17)a | GBP | 250 | 376,504 | |||||||||
NBG Finance PLC | ||||||||||||
4.38%, 04/30/19a | EUR | 600 | 416,845 | |||||||||
New Look Bondco I PLC | ||||||||||||
8.75%, 05/14/18 (Call 05/14/15)a | GBP | 400 | 643,161 | |||||||||
Odeon & UCI Finco PLC | ||||||||||||
9.00%, 08/01/18 (Call 05/11/15)a | GBP | 200 | 313,497 | |||||||||
9.00%, 08/01/18 (Call 05/11/15)c | GBP | 100 | 156,748 | |||||||||
OTE PLC | ||||||||||||
3.50%, 07/09/20a | EUR | 650 | 659,163 | |||||||||
4.63%, 05/20/16 | EUR | 600 | 668,968 | |||||||||
7.88%, 02/07/18a | EUR | 550 | 635,562 |
Security | Principal (000s) | Value | ||||||||||
Piraeus Group Finance PLC | ||||||||||||
5.00%, 03/27/17a | EUR | 400 | $ | 307,031 | ||||||||
PPC Finance PLC | ||||||||||||
5.50%, 05/01/19 (Call 05/01/16)a | EUR | 400 | 318,236 | |||||||||
Premier Foods Finance PLC | ||||||||||||
6.50%, 03/15/21 (Call 03/15/17)c | GBP | 150 | 218,134 | |||||||||
6.50%, 03/15/21 (Call 03/15/17)a | GBP | 100 | 145,423 | |||||||||
Priory Group No. 3 PLC | ||||||||||||
7.00%, 02/15/18 (Call 06/01/15)c | GBP | 199 | 317,380 | |||||||||
R&R Ice Cream PLC | ||||||||||||
5.50%, 05/15/20 (Call 05/15/16)a | GBP | 250 | 394,791 | |||||||||
Rexam PLC | ||||||||||||
6.75%, 06/29/67 (Call 06/29/17)a,b | EUR | 700 | 810,897 | |||||||||
Royal Bank of Scotland Group PLC | ||||||||||||
3.63%, 03/25/24 (Call 03/25/19)a,b | EUR | 900 | 1,050,146 | |||||||||
Royal Bank of Scotland PLC (The) | ||||||||||||
4.35%, 01/23/17 | EUR | 650 | 765,768 | |||||||||
4.63%, 09/22/21 (Call 09/22/16)b | EUR | 800 | 925,574 | |||||||||
6.93%, 04/09/18 | EUR | 1,650 | 2,117,544 | |||||||||
10.50%, 03/16/22 (Call 03/16/17)a,b | EUR | 500 | 651,320 | |||||||||
Stonegate Pub Co. Financing PLC | ||||||||||||
5.75%, 04/15/19 (Call 04/15/16)c | GBP | 100 | 155,212 | |||||||||
5.75%, 04/15/19 (Call 04/15/16)a | GBP | 100 | 155,212 | |||||||||
TA MFG. Ltd. | ||||||||||||
3.63%, 04/15/23 (Call 04/15/18)a | EUR | 100 | 111,950 | |||||||||
Tesco Corporate Treasury Services PLC | ||||||||||||
1.38%, 07/01/19a | EUR | 1,000 | 1,089,286 | |||||||||
2.13%, 11/12/20 (Call 09/01/20)a | EUR | 400 | 446,427 | |||||||||
2.50%, 07/01/24a | EUR | 650 | 715,247 |
SCHEDULESOF INVESTMENTS | 41 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Tesco PLC | ||||||||||||
3.38%, 11/02/18a | EUR | 700 | $ | 826,298 | ||||||||
6.13%, 02/24/22 | GBP | 750 | 1,288,315 | |||||||||
Thomas Cook Finance PLC | ||||||||||||
6.75%, 06/15/21 (Call 01/15/18)a | EUR | 400 | 478,475 | |||||||||
7.75%, 06/15/20 (Call 06/15/16)a | EUR | 400 | 481,836 | |||||||||
Thomas Cook Group PLC | ||||||||||||
7.75%, 06/22/17 | GBP | 250 | 412,041 | |||||||||
Titan Global Finance PLC | ||||||||||||
4.25%, 07/10/19a | EUR | 225 | 236,996 | |||||||||
Towergate Finance PLC | ||||||||||||
10.50%, 02/15/19a,d | GBP | 100 | 3,073 | |||||||||
Travis Perkins PLC | ||||||||||||
4.38%, 09/15/21a | GBP | 200 | 319,374 | |||||||||
Twinkle Pizza PLC | ||||||||||||
6.63%, 08/01/21 (Call 08/01/17)a | GBP | 450 | 731,301 | |||||||||
Virgin Media Finance PLC | ||||||||||||
4.50%, 01/15/25 (Call 01/15/20)a | EUR | 350 | 400,036 | |||||||||
6.38%, 10/15/24 (Call 10/15/19)a | GBP | 300 | 491,557 | |||||||||
7.00%, 04/15/23 (Call 04/15/18)a | GBP | 100 | 165,585 | |||||||||
Virgin Media Secured Finance PLC | ||||||||||||
4.88%, 01/15/27 (Call 01/15/21)a | GBP | 300 | 456,309 | |||||||||
5.13%, 01/15/25 (Call 01/15/20)a | GBP | 400 | 630,067 | |||||||||
5.50%, 01/15/21 | GBP | 500 | 831,766 | |||||||||
5.50%, 01/15/25 (Call 01/15/19)a | GBP | 405 | 637,943 | |||||||||
6.00%, 04/15/21 (Call 04/15/17)a | GBP | 810 | 1,310,118 | |||||||||
6.25%, 03/28/29 (Call 01/15/21)a | GBP | 300 | 490,992 | |||||||||
Vougeot Bidco PLC | ||||||||||||
7.88%, 07/15/20 (Call 07/15/16)a | GBP | 200 | 329,264 | |||||||||
William Hill PLC | ||||||||||||
7.13%, 11/11/16 | GBP | 200 | 328,111 | |||||||||
|
| |||||||||||
39,960,046 |
Security | Principal (000s) | Value | ||||||||||
UNITED STATES — 2.01% |
| |||||||||||
Allied Nevada Gold Corp. | ||||||||||||
8.75%, 06/01/19 (Call 06/01/16)c | CAD | 275 | $ | 56,782 | ||||||||
Axalta Coating Systems U.S. Holdings Inc./Axalta Coating Systems Dutch Holding BV | ||||||||||||
5.75%, 02/01/21 (Call 02/01/16)a | EUR | 200 | 238,139 | |||||||||
Belden Inc. | ||||||||||||
5.50%, 04/15/23 (Call 04/15/18)a | EUR | 400 | 479,595 | |||||||||
Celanese U.S. Holdings LLC | ||||||||||||
3.25%, 10/15/19 | EUR | 200 | 233,915 | |||||||||
Chesapeake Energy Corp. | ||||||||||||
6.25%, 01/15/17 | EUR | 300 | 358,015 | |||||||||
Fiat Finance North America Inc. | ||||||||||||
5.63%, 06/12/17 | EUR | 550 | 660,895 | |||||||||
Huntsman International LLC | ||||||||||||
4.25%, 04/01/25 (Call 01/01/25)a | EUR | 200 | 221,309 | |||||||||
5.13%, 04/15/21 | EUR | 400 | 476,234 | |||||||||
IMS Health Inc. | ||||||||||||
4.13%, 04/01/23 (Call 04/01/18)a | EUR | 250 | 280,838 | |||||||||
Infor U.S. Inc. | ||||||||||||
5.75%, 05/15/22 (Call 05/15/18)a | EUR | 200 | 228,592 | |||||||||
Iron Mountain Inc. | ||||||||||||
6.75%, 10/15/18 (Call 05/14/15) | EUR | 100 | 112,167 | |||||||||
Jarden Corp. | ||||||||||||
3.75%, 10/01/21a | EUR | 200 | 238,957 | |||||||||
PSPC Escrow Corp. | ||||||||||||
6.00%, 02/01/23 (Call 02/01/18)a | EUR | 300 | 349,611 | |||||||||
VWR Funding Inc. | ||||||||||||
4.63%, 04/15/22 (Call 04/15/18)a | EUR | 300 | 331,122 | |||||||||
ZF North America Capital Inc. | ||||||||||||
2.25%, 04/26/19a | EUR | 300 | 337,426 | |||||||||
2.75%, 04/27/23a | EUR | 400 | 443,738 | |||||||||
|
| |||||||||||
5,047,335 | ||||||||||||
|
| |||||||||||
TOTAL CORPORATE BONDS & NOTES |
| |||||||||||
(Cost: $265,152,335) |
| 244,325,265 |
42 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL ex USD HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Shares (000s) | Value | ||||||||
SHORT-TERM INVESTMENTS — 0.05% |
| |||||||||
MONEY MARKET FUNDS — 0.05% |
| |||||||||
BlackRock Cash Funds: Treasury, |
| |||||||||
0.00%f,g | 123 | $ | 122,747 | |||||||
|
| |||||||||
122,747 | ||||||||||
|
| |||||||||
TOTAL SHORT-TERM INVESTMENTS |
| |||||||||
(Cost: $122,747) | 122,747 | |||||||||
|
| |||||||||
TOTAL INVESTMENTS |
| |||||||||
(Cost: $265,275,082) | 244,448,012 | |||||||||
Other Assets, Less Liabilities — 2.56% |
| 6,430,949 | ||||||||
|
| |||||||||
NET ASSETS — 100.00% | $ | 250,878,961 | ||||||||
|
|
CAD | — Canadian Dollar | |
EUR | — Euro | |
GBP | — British Pound |
a | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
b | Variable rate security. Rate shown is as of report date. |
c | This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933. |
d | Issuer is in default of interest payments. |
e | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
f | Affiliated issuer. See Note 2. |
g | The rate quoted is the annualized seven-day yield of the fund at period end. |
See notes to financial statements.
SCHEDULESOF INVESTMENTS | 43 |
Table of Contents
Schedule of Investments (Unaudited)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
CORPORATE BONDS & NOTES — 96.30% |
| |||||||||||
AUSTRALIA — 0.41% |
| |||||||||||
FMG Resources August 2006 Pty Ltd. |
| |||||||||||
6.88%, 02/01/18 (Call 06/01/15)a,b | USD | 67 | $ | 68,500 | ||||||||
6.88%, 04/01/22 (Call 04/01/17)a,b | USD | 100 | 77,000 | |||||||||
8.25%, 11/01/19 (Call 11/01/15)a,b | USD | 100 | 88,000 | |||||||||
9.75%, 03/01/22 (Call 03/01/18)a | USD | 25 | 25,875 | |||||||||
Origin Energy Finance Ltd. |
| |||||||||||
4.00%, 09/16/74 (Call 09/16/19)c,d | EUR | 100 | 108,833 | |||||||||
|
| |||||||||||
368,208 | ||||||||||||
AUSTRIA — 0.10% |
| |||||||||||
Raiffeisen Bank International AG |
| |||||||||||
4.50%, 02/21/25 (Call 02/21/20)c,d | EUR | 100 | 93,286 | |||||||||
|
| |||||||||||
93,286 | ||||||||||||
BELGIUM — 0.15% |
| |||||||||||
Barry Callebaut Services NV |
| |||||||||||
5.63%, 06/15/21c | EUR | 100 | 136,371 | |||||||||
|
| |||||||||||
136,371 | ||||||||||||
BERMUDA — 0.21% |
| |||||||||||
Aircastle Ltd. |
| |||||||||||
5.13%, 03/15/21b | USD | 25 | 26,250 | |||||||||
5.50%, 02/15/22b | USD | 50 | 53,500 | |||||||||
6.25%, 12/01/19 | USD | 50 | 55,312 | |||||||||
6.75%, 04/15/17 | USD | 50 | 53,813 | |||||||||
|
| |||||||||||
188,875 | ||||||||||||
CANADA — 4.30% |
| |||||||||||
1011778 BC ULC/New Red Finance Inc. |
| |||||||||||
6.00%, 04/01/22 (Call 10/01/17)a,b | USD | 175 | 181,344 | |||||||||
Air Canada |
| |||||||||||
6.75%, 10/01/19 (Call 10/01/16)a | USD | 50 | 53,438 | |||||||||
7.63%, 10/01/19 (Call 10/01/16)a | CAD | 50 | 44,272 | |||||||||
7.75%, 04/15/21 a | USD | 25 | 26,875 |
Security | Principal (000s) | Value | ||||||||||
Armtec Holdings Ltd. |
| |||||||||||
8.88%, 09/22/17 (Call 06/01/15)e | CAD | 6 | $ | 545 | ||||||||
Athabasca Oil Corp. |
| |||||||||||
7.50%, 11/19/17 (Call 06/01/15)c | CAD | 50 | 37,152 | |||||||||
Baytex Energy Corp. |
| |||||||||||
6.63%, 07/19/22 (Call 07/19/17) | CAD | 50 | 41,693 | |||||||||
Bombardier Inc. |
| |||||||||||
4.75%, 04/15/19a | USD | 100 | 100,375 | |||||||||
5.75%, 03/15/22a | USD | 50 | 47,250 | |||||||||
6.00%, 10/15/22 (Call 04/15/17)a,b | USD | 75 | 71,399 | |||||||||
6.13%, 05/15/21c | EUR | 100 | 121,580 | |||||||||
6.13%, 01/15/23a,b | USD | 100 | 95,000 | |||||||||
7.50%, 03/15/25 (Call 03/15/20)a | USD | 150 | 148,500 | |||||||||
7.75%, 03/15/20a,b | USD | 50 | 53,120 | |||||||||
Brookfield Residential Properties Inc. |
| |||||||||||
6.50%, 12/15/20 (Call 12/15/15)a | USD | 100 | 104,250 | |||||||||
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp. |
| |||||||||||
6.13%, 07/01/22 (Call 07/01/17)a,b | USD | 25 | 25,688 | |||||||||
Canadian Energy Services & Technology Corp. |
| |||||||||||
7.38%, 04/17/20 (Call 04/17/17) | CAD | 50 | 41,486 | |||||||||
Cascades Inc. |
| |||||||||||
5.50%, 07/15/21 (Call 07/15/17)a | CAD | 25 | 20,743 | |||||||||
Centric Health Corp. |
| |||||||||||
8.63%, 04/18/18 (Call 04/18/16) | CAD | 20 | 13,044 | |||||||||
Corus Entertainment Inc. |
| |||||||||||
4.25%, 02/11/20c | CAD | 50 | 40,660 | |||||||||
Gateway Casinos & Entertainment Ltd. |
| |||||||||||
8.50%, 11/26/20 (Call 11/26/16)a | CAD | 25 | 20,640 | |||||||||
Great Canadian Gaming Corp. |
| |||||||||||
6.63%, 07/25/22 (Call 07/25/17)a | CAD | 50 | 43,034 |
44 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Harvest Operations Corp. |
| |||||||||||
6.88%, 10/01/17 | USD | 40 | $ | 37,098 | ||||||||
Jupiter Resources Inc. |
| |||||||||||
8.50%, 10/01/22 (Call 10/01/17)a | USD | 100 | 84,500 | |||||||||
Lundin Mining Corp. |
| |||||||||||
7.50%, 11/01/20 (Call 11/01/17)a | USD | 75 | 78,750 | |||||||||
7.88%, 11/01/22 (Call 11/01/18)a,b | USD | 25 | 26,500 | |||||||||
Mattamy Group Corp. |
| |||||||||||
6.88%, 11/15/20 (Call 11/15/15)a | CAD | 50 | 41,176 | |||||||||
MEG Energy Corp. |
| |||||||||||
6.38%, 01/30/23 (Call 07/30/17)a | USD | 100 | 97,500 | |||||||||
6.50%, 03/15/21 (Call 06/01/15)a | USD | 50 | 49,625 | |||||||||
7.00%, 03/31/24 (Call 09/30/18)a | USD | 75 | 74,250 | |||||||||
Newalta Corp. Series 2 |
| |||||||||||
7.75%, 11/14/19 (Call 11/14/15) | CAD | 22 | 19,003 | |||||||||
NOVA Chemicals Corp. |
| |||||||||||
5.00%, 05/01/25 (Call 01/31/25)a | USD | 50 | 52,688 | |||||||||
Novelis Inc. |
| |||||||||||
8.38%, 12/15/17 (Call 06/01/15) | USD | 100 | 104,000 | |||||||||
8.75%, 12/15/20 (Call 12/15/15) | USD | 150 | 160,500 | |||||||||
NRL Energy Investments Ltd. |
| |||||||||||
8.25%, 04/13/18 (Call 06/01/15) | CAD | 25 | 15,686 | |||||||||
Paramount Resources Ltd. |
| |||||||||||
7.63%, 12/04/19 (Call 12/04/15) | CAD | 50 | 42,415 | |||||||||
8.25%, 12/13/17 (Call 06/01/15) | CAD | 50 | 42,415 | |||||||||
Postmedia Network Inc. |
| |||||||||||
8.25%, 08/16/17 (Call 08/16/15)a | CAD | 21 | 18,042 |
Security | Principal (000s) | Value | ||||||||||
Precision Drilling Corp. |
| |||||||||||
6.63%, 11/15/20 (Call 11/15/15) | USD | 100 | $ | 100,750 | ||||||||
Quebecor Media Inc. |
| |||||||||||
5.75%, 01/15/23 | USD | 50 | 51,750 | |||||||||
6.63%, 01/15/23a | CAD | 50 | 43,756 | |||||||||
7.38%, 01/15/21 (Call 01/15/16) | CAD | 50 | 43,963 | |||||||||
Russel Metals Inc. |
| |||||||||||
6.00%, 04/19/22 (Call 04/19/17)a | CAD | 50 | 42,518 | |||||||||
Superior Plus LP |
| |||||||||||
6.50%, 12/09/21 (Call 12/09/17) | CAD | 25 | 21,465 | |||||||||
Tervita Corp. |
| |||||||||||
8.00%, 11/15/18 (Call 11/15/15)a | USD | 50 | 46,500 | |||||||||
9.00%, 11/15/18 (Call 11/15/15)a | CAD | 25 | 18,782 | |||||||||
Ultra Petroleum Corp. |
| |||||||||||
6.13%, 10/01/24 (Call 10/01/19)a | USD | 100 | 88,000 | |||||||||
Valeant Pharmaceuticals International Inc. |
| |||||||||||
4.50%, 05/15/23 (Call 05/15/18)c | EUR | 125 | 141,469 | |||||||||
5.38%, 03/15/20 (Call 03/15/17)a | USD | 200 | 205,125 | |||||||||
5.50%, 03/01/23 (Call 03/01/18)a | USD | 50 | 50,688 | |||||||||
5.88%, 05/15/23 (Call 05/15/18)a | USD | 75 | 76,969 | |||||||||
6.13%, 04/15/25 (Call 04/15/20)a | USD | 245 | 251,431 | |||||||||
7.50%, 07/15/21 (Call 07/15/16)a | USD | 150 | 162,563 | |||||||||
Videotron Ltd. |
| |||||||||||
5.00%, 07/15/22 | USD | 100 | 103,000 | |||||||||
5.38%, 06/15/24 (Call 03/15/24)a | USD | 50 | 52,000 | |||||||||
5.63%, 06/15/25 (Call 03/15/25) | CAD | 25 | 21,282 | |||||||||
Whiting Canadian Holding Co. ULC |
| |||||||||||
8.13%, 12/01/19 (Call 12/01/15) | USD | 50 | 53,125 |
SCHEDULESOF INVESTMENTS | 45 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Yellow Pages Digital & Media Solutions Ltd. |
| |||||||||||
9.25%, 11/30/18 (Call 06/01/15)a | CAD | 45 | $ | 39,105 | ||||||||
|
| |||||||||||
3,890,477 | ||||||||||||
CAYMAN ISLANDS — 0.64% |
| |||||||||||
Brakes Capital |
| |||||||||||
7.13%, 12/15/18 (Call 12/15/15)c | GBP | 100 | 156,364 | |||||||||
Offshore Group Investment Ltd. |
| |||||||||||
7.13%, 04/01/23 (Call 04/01/18) | USD | 75 | 47,956 | |||||||||
7.50%, 11/01/19 (Call 11/01/15) | USD | 100 | 65,736 | |||||||||
UPCB Finance II Ltd. |
| |||||||||||
6.38%, 07/01/20 (Call 05/05/15)c | EUR | 25 | 29,134 | |||||||||
UPCB Finance V Ltd. |
| |||||||||||
7.25%, 11/15/21 (Call 11/15/16)a | USD | 150 | 163,125 | |||||||||
Viridian Group FundCo II Ltd. |
| |||||||||||
7.50%, 03/01/20 (Call 09/01/17)c | EUR | 100 | 114,856 | |||||||||
|
| |||||||||||
577,171 | ||||||||||||
DENMARK — 0.12% |
| |||||||||||
TDC A/S |
| |||||||||||
3.50%, 02/26/49 (Call 02/26/21)c,d | EUR | 100 | 111,831 | |||||||||
|
| |||||||||||
111,831 | ||||||||||||
FINLAND — 0.37% |
| |||||||||||
Nokia OYJ |
| |||||||||||
5.38%, 05/15/19b | USD | 75 | 81,375 | |||||||||
6.75%, 02/04/19c | EUR | 100 | 133,612 | |||||||||
Stora Enso OYJ |
| |||||||||||
5.00%, 03/19/18c | EUR | 100 | 123,343 | |||||||||
|
| |||||||||||
338,330 | ||||||||||||
FRANCE — 3.83% |
| |||||||||||
Areva SA |
| |||||||||||
3.25%, 09/04/20c | EUR | 100 | 113,474 | |||||||||
3.50%, 03/22/21 | EUR | 100 | 113,638 | |||||||||
4.88%, 09/23/24 | EUR | 100 | 120,954 | |||||||||
CGG SA |
| |||||||||||
5.88%, 05/15/20 (Call 05/15/17)c | EUR | 100 | 107,573 |
Security | Principal (000s) | Value | ||||||||||
CMA CGM SA |
| |||||||||||
8.75%, 12/15/18 (Call 12/15/15)c | EUR | 100 | $ | 119,338 | ||||||||
Credit Agricole SA |
| |||||||||||
6.64%, 05/29/49 (Call 05/31/17)a,b,d | USD | 100 | 106,125 | |||||||||
8.38%, 10/29/49 (Call 10/13/19)a,d | USD | 100 | 117,750 | |||||||||
Crown European Holdings SA |
| |||||||||||
4.00%, 07/15/22 (Call 04/15/22)c | EUR | 100 | 119,619 | |||||||||
Faurecia |
| |||||||||||
9.38%, 12/15/16c | EUR | 100 | 126,622 | |||||||||
Groupama SA |
| |||||||||||
7.88%, 10/27/39 (Call 10/27/19)d | EUR | 50 | 64,011 | |||||||||
Holding Medi-Partenaires SAS |
| |||||||||||
7.00%, 05/15/20 (Call 05/15/16)c | EUR | 100 | 118,638 | |||||||||
Italcementi Finance SA |
| |||||||||||
6.63%, 03/19/20 c,f | EUR | 100 | 131,721 | |||||||||
Labco SA |
| |||||||||||
8.50%, 01/15/18 (Call 06/01/15)c | EUR | 100 | 117,518 | |||||||||
Lafarge SA |
| |||||||||||
4.75%, 09/30/20c | EUR | 100 | 132,612 | |||||||||
6.50%, 07/15/16 | USD | 50 | 52,625 | |||||||||
6.63%, 11/29/18c | EUR | 100 | 129,704 | |||||||||
6.75%, 12/16/19c | EUR | 100 | 134,671 | |||||||||
Loxam SAS |
| |||||||||||
4.88%, 07/23/21 (Call 07/23/17)c | EUR | 100 | 116,537 | |||||||||
Nexans SA |
| |||||||||||
5.75%, 05/02/17 | EUR | 50 | 60,650 | |||||||||
Numericable-SFR SAS |
| |||||||||||
4.88%, 05/15/19 (Call 05/15/16)a | USD | 200 | 202,000 | |||||||||
5.38%, 05/15/22 (Call 05/15/17)c | EUR | 100 | 117,378 | |||||||||
5.63%, 05/15/24 (Call 05/15/19)c | EUR | 100 | 118,358 | |||||||||
6.00%, 05/15/22 (Call 05/15/17)a,b | USD | 200 | 204,500 |
46 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Peugeot SA |
| |||||||||||
6.50%, 01/18/19c | EUR | 100 | $ | 130,756 | ||||||||
7.38%, 03/06/18c | EUR | 100 | 130,010 | |||||||||
Rexel SA |
| |||||||||||
5.13%, 06/15/20 (Call 06/15/16)c | EUR | 100 | 119,899 | |||||||||
SGD Group SAS |
| |||||||||||
5.63%, 05/15/19 (Call 10/15/15)c | EUR | 100 | 115,417 | |||||||||
Societe Generale SA |
| |||||||||||
5.92%, 12/31/49 (Call 04/05/17)a,d | USD | 100 | 104,250 | |||||||||
THOM Europe SAS |
| |||||||||||
7.38%, 07/15/19 (Call 07/15/16)c | EUR | 100 | 117,518 | |||||||||
|
| |||||||||||
3,463,866 | ||||||||||||
GERMANY — 2.35% |
| |||||||||||
Bayerische Landbank |
| |||||||||||
5.75%, 10/23/17 | EUR | 100 | 122,265 | |||||||||
Commerzbank AG |
| |||||||||||
7.75%, 03/16/21 | EUR | 200 | 282,893 | |||||||||
Deutsche Raststaetten Gruppe IV GmbH |
| |||||||||||
6.75%, 12/30/20 (Call 12/30/16)c | EUR | 100 | 122,420 | |||||||||
Hapag-Lloyd AG |
| |||||||||||
7.75%, 10/01/18 (Call 10/01/15)c | EUR | 100 | 117,378 | |||||||||
Heidelberger Druckmaschinen AG |
| |||||||||||
9.25%, 04/15/18 (Call 06/01/15)c | EUR | 42 | 48,991 | |||||||||
Hornbach Baumarkt AG |
| |||||||||||
3.88%, 02/15/20c | EUR | 50 | 61,202 | |||||||||
Norddeutsche Landesbank Girozentrale |
| |||||||||||
6.00%, 06/29/20 | EUR | 50 | 67,317 | |||||||||
Techem GmbH |
| |||||||||||
6.13%, 10/01/19 (Call 10/01/15)c | EUR | 100 | 118,778 | |||||||||
ThyssenKrupp AG |
| |||||||||||
1.75%, 11/25/20 (Call 08/25/20)c | EUR | 75 | 83,747 | |||||||||
2.50%, 02/25/25c | EUR | 100 | 111,552 | |||||||||
4.00%, 08/27/18 | EUR | 175 | 211,578 | |||||||||
4.38%, 02/28/17 | EUR | 100 | 118,609 |
Security | Principal (000s) | Value | ||||||||||
Trionista TopCo GmbH |
| |||||||||||
6.88%, 04/30/21 (Call 04/30/16)c | EUR | 100 | $ | 121,019 | ||||||||
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH |
| |||||||||||
4.00%, 01/15/25 (Call 01/15/20)c | EUR | 100 | 115,137 | |||||||||
5.50%, 09/15/22 (Call 09/15/17)c | EUR | 90 | 108,665 | |||||||||
Unitymedia KabelBW GmbH |
| |||||||||||
3.75%, 01/15/27 (Call 01/15/21)c | EUR | 100 | 108,974 | |||||||||
6.13%, 01/15/25 (Call 01/15/20)a | USD | 200 | 209,000 | |||||||||
|
| |||||||||||
2,129,525 | ||||||||||||
IRELAND — 1.22% |
| |||||||||||
AerCap Ireland Capital Ltd./AerCap Global Aviation Trust |
| |||||||||||
3.75%, 05/15/19a | USD | 150 | 151,875 | |||||||||
4.50%, 05/15/21a | USD | 150 | 157,500 | |||||||||
Allied Irish Banks PLC |
| |||||||||||
2.75%, 04/16/19c | EUR | 100 | 117,871 | |||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. |
| |||||||||||
4.25%, 01/15/22 (Call 06/30/17)c | EUR | 100 | 114,436 | |||||||||
6.25%, 01/31/19 (Call 01/31/16)a | USD | 200 | 203,500 | |||||||||
Bank of Ireland |
| |||||||||||
3.25%, 01/15/19c | EUR | 100 | 120,003 | |||||||||
4.25%, 06/11/24 (Call 06/11/19)c,d | EUR | 100 | 115,697 | |||||||||
Smurfit Kappa Acquisitions |
| |||||||||||
4.13%, 01/30/20c | EUR | 100 | 123,260 | |||||||||
|
| |||||||||||
1,104,142 | ||||||||||||
ITALY — 4.06% |
| |||||||||||
Astaldi SpA |
| |||||||||||
7.13%, 12/01/20 (Call 12/01/16)c | EUR | 100 | 120,319 | |||||||||
Banca Monte dei Paschi di Siena SpA |
| |||||||||||
3.63%, 04/01/19c | EUR | 100 | 115,990 | |||||||||
5.00%, 04/21/20c | EUR | 100 | 115,137 | |||||||||
Banca Popolare di Milano Scarl |
| |||||||||||
7.13%, 03/01/21c | EUR | 100 | 131,440 |
SCHEDULESOF INVESTMENTS | 47 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Banco Popolare SC |
| |||||||||||
2.38%, 01/22/18c | EUR | 100 | $ | 114,005 | ||||||||
3.50%, 03/14/19c | EUR | 100 | 117,622 | |||||||||
3.75%, 01/28/16c | EUR | 100 | 114,173 | |||||||||
6.00%, 11/05/20c | EUR | 50 | 61,769 | |||||||||
Buzzi Unicem SpA |
| |||||||||||
5.13%, 12/09/16c | EUR | 50 | 59,425 | |||||||||
Enel SpA |
| |||||||||||
5.00%, 01/15/75 (Call 01/15/20)c,d | EUR | 100 | 121,159 | |||||||||
6.50%, 01/10/74 (Call 01/10/19)c,d | EUR | 100 | 125,221 | |||||||||
Intesa Sanpaolo SpA |
| |||||||||||
5.00%, 09/23/19c | EUR | 100 | 125,953 | |||||||||
6.63%, 09/13/23c | EUR | 250 | 352,609 | |||||||||
Mediobanca SpA Series 0000 |
| |||||||||||
5.75%, 04/18/23 | EUR | 100 | 132,007 | |||||||||
TeamSystem Holding SpA |
| |||||||||||
7.38%, 05/15/20 (Call 05/15/16)c | EUR | 100 | 118,498 | |||||||||
Telecom Italia SpA |
| |||||||||||
4.00%, 01/21/20c | EUR | 100 | 123,217 | |||||||||
4.50%, 01/25/21c | EUR | 100 | 126,988 | |||||||||
4.75%, 05/25/18c | EUR | 100 | 123,461 | |||||||||
5.30%, 05/30/24a | USD | 200 | 210,000 | |||||||||
5.38%, 01/29/19c | EUR | 100 | 127,428 | |||||||||
6.13%, 12/14/18 | EUR | 100 | 130,037 | |||||||||
6.38%, 06/24/19 | GBP | 50 | 85,219 | |||||||||
7.00%, 01/20/17c | EUR | 100 | 123,936 | |||||||||
UniCredit SpA |
| |||||||||||
5.75%, 10/28/25 (Call 10/28/20)c,d | EUR | 100 | 124,953 | |||||||||
6.70%, 06/05/18 | EUR | 50 | 63,871 | |||||||||
6.95%, 10/31/22c | EUR | 200 | 273,631 | |||||||||
Unipol Gruppo Finanziario SpA |
| |||||||||||
3.00%, 03/18/25c | EUR | 115 | 126,634 | |||||||||
Veneto Banca SCPA |
| |||||||||||
4.00%, 01/20/17c | EUR | 100 | 114,274 | |||||||||
|
| |||||||||||
3,678,976 | ||||||||||||
JAPAN — 0.36% |
| |||||||||||
SoftBank Corp. | ||||||||||||
4.50%, 04/15/20a | USD | 200 | 205,500 | |||||||||
4.63%, 04/15/20c | EUR | 100 | 123,541 | |||||||||
|
| |||||||||||
329,041 |
Security | Principal (000s) | Value | ||||||||||
JERSEY — 0.17% |
| |||||||||||
AA Bond Co. Ltd. | ||||||||||||
5.50%, 07/31/43 (Call 07/31/18)c | GBP | 100 | $ | 155,980 | ||||||||
|
| |||||||||||
155,980 | ||||||||||||
LIBERIA — 0.06% |
| |||||||||||
Royal Caribbean Cruises Ltd. | ||||||||||||
5.25%, 11/15/22 | USD | 50 | 53,586 | |||||||||
|
| |||||||||||
53,586 | ||||||||||||
LUXEMBOURG — 7.68% |
| |||||||||||
Altice Financing SA | ||||||||||||
5.25%, 02/15/23 (Call 02/15/18)c | EUR | 100 | 117,787 | |||||||||
6.50%, 01/15/22 (Call 12/15/16)a | USD | 200 | 204,750 | |||||||||
Altice SA | ||||||||||||
6.25%, 02/15/25 (Call 02/15/20)c | EUR | 100 | 112,335 | |||||||||
7.25%, 05/15/22 (Call 05/15/17)c | EUR | 100 | 115,977 | |||||||||
7.63%, 02/15/25 (Call 02/15/20)a | USD | 200 | 201,500 | |||||||||
7.75%, 05/15/22 (Call 05/15/17)a | USD | 225 | 227,531 | |||||||||
ArcelorMittal | ||||||||||||
2.88%, 07/06/20c | EUR | 100 | 112,222 | |||||||||
5.25%, 02/25/17 | USD | 150 | 156,000 | |||||||||
5.75%, 08/05/20 | USD | 100 | 105,000 | |||||||||
5.88%, 11/17/17c | EUR | 200 | 246,719 | |||||||||
6.13%, 06/01/18 | USD | 100 | 106,750 | |||||||||
6.25%, 03/01/21 | USD | 100 | 105,000 | |||||||||
7.00%, 02/25/22b | USD | 100 | 109,000 | |||||||||
10.60%, 06/01/19 | USD | 100 | 120,250 | |||||||||
Beverage Packaging Holdings Luxembourg II SA/Beverage Packaging Holdings II Issuer Inc. |
| |||||||||||
5.63%, 12/15/16 (Call 12/15/15)a | USD | 25 | 25,188 | |||||||||
6.00%, 06/15/17 (Call 06/15/16)a | USD | 50 | 50,875 | |||||||||
CHC Helicopter SA |
| |||||||||||
9.25%, 10/15/20 (Call 10/15/15)b | USD | 90 | 78,750 |
48 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Cirsa Funding Luxembourg SA |
| |||||||||||
8.75%, 05/15/18 (Call 06/01/15)c | EUR | 50 | $ | 57,428 | ||||||||
CNH Industrial Finance Europe SA |
| |||||||||||
2.75%, 03/18/19c | EUR | 100 | 114,352 | |||||||||
2.88%, 09/27/21c | EUR | 100 | 114,520 | |||||||||
Dufry Finance SCA | ||||||||||||
4.50%, 07/15/22 (Call 07/15/17)c | EUR | 100 | 118,498 | |||||||||
Fiat Chrysler Finance Europe | ||||||||||||
4.75%, 03/22/21c | EUR | 100 | 123,057 | |||||||||
4.75%, 07/15/22c | EUR | 100 | 124,183 | |||||||||
6.63%, 03/15/18c | EUR | 150 | 187,832 | |||||||||
6.75%, 10/14/19c | EUR | 100 | 130,814 | |||||||||
7.00%, 03/23/17c | EUR | 100 | 122,408 | |||||||||
Finmeccanica SpA | ||||||||||||
4.50%, 01/19/21 | EUR | 100 | 125,533 | |||||||||
FMC Finance VIII SA | ||||||||||||
5.25%, 07/31/19c | EUR | 50 | 64,992 | |||||||||
GCS Holdco Finance I SA | ||||||||||||
6.50%, 11/15/18 (Call 11/15/15)c | EUR | 100 | 117,097 | |||||||||
Gestamp Funding Luxembourg SA |
| |||||||||||
5.88%, 05/31/20 (Call 05/31/16)c | EUR | 100 | 118,218 | |||||||||
HeidelbergCement Finance Luxembourg SA |
| |||||||||||
3.25%, 10/21/21c | EUR | 150 | 187,832 | |||||||||
8.50%, 10/31/19c | EUR | 100 | 146,673 | |||||||||
INEOS Group Holdings SA |
| |||||||||||
6.50%, 08/15/18 (Call 06/01/15)c | EUR | 100 | 115,977 | |||||||||
Intelsat Jackson Holdings SA |
| |||||||||||
5.50%, 08/01/23 (Call 08/01/18) | USD | 145 | 138,837 | |||||||||
6.63%, 12/15/22 (Call 12/15/17) | USD | 100 | 98,750 | |||||||||
7.25%, 04/01/19 (Call 06/01/15) | USD | 100 | 103,750 | |||||||||
7.25%, 10/15/20 (Call 10/15/15) | USD | 100 | 103,137 | |||||||||
7.50%, 04/01/21 (Call 04/01/16) | USD | 100 | 103,875 |
Security | Principal (000s) | Value | ||||||||||
Intelsat Luxembourg SA |
| |||||||||||
6.75%, 06/01/18 (Call 06/01/15)b | USD | 50 | $ | 50,219 | ||||||||
7.75%, 06/01/21 (Call 06/01/17)b | USD | 150 | 138,375 | |||||||||
8.13%, 06/01/23 (Call 06/01/18)b | USD | 100 | 91,531 | |||||||||
Intralot Finance Luxembourg SA |
| |||||||||||
9.75%, 08/15/18 (Call 08/15/16)c | EUR | 100 | 113,736 | |||||||||
KION Finance SA |
| |||||||||||
6.75%, 02/15/20 (Call 02/15/16)c | EUR | 100 | 119,759 | |||||||||
Mallinckrodt International Finance SA |
| |||||||||||
4.75%, 04/15/23 | USD | 50 | 47,875 | |||||||||
Mallinckrodt International Finance SA/Mallinckrodt CB LLC |
| |||||||||||
4.88%, 04/15/20 (Call 04/15/17)a | USD | 50 | 50,813 | |||||||||
5.50%, 04/15/25 (Call 04/15/20)a | USD | 50 | 51,250 | |||||||||
5.75%, 08/01/22 (Call 08/01/17)a,b | USD | 50 | 51,875 | |||||||||
Millicom International Cellular SA |
| |||||||||||
6.63%, 10/15/21 (Call 10/15/17)a,b | USD | 200 | 211,500 | |||||||||
Nielsen Co. Luxembourg Sarl (The) |
| |||||||||||
5.50%, 10/01/21 (Call 10/01/16)a,b | USD | 50 | 51,438 | |||||||||
Pacific Drilling SA |
| |||||||||||
5.38%, 06/01/20 (Call 06/01/16)a | USD | 100 | 85,248 | |||||||||
Telecom Italia Capital SA |
| |||||||||||
7.00%, 06/04/18 | 100 | 111,500 | ||||||||||
Telenet Finance V Luxembourg SCA |
| |||||||||||
6.25%, 08/15/22 (Call 08/15/17)c | EUR | 100 | 121,440 | |||||||||
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc. |
| |||||||||||
8.75%, 02/01/19 (Call 05/13/15)b | USD | 118 | 125,375 | |||||||||
Wind Acquisition Finance SA |
| |||||||||||
4.00%, 07/15/20 (Call 07/15/16)c | EUR | 250 | 283,989 |
SCHEDULESOF INVESTMENTS | 49 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
7.00%, 04/23/21 (Call 04/23/17)c | EUR | 100 | $ | 119,759 | ||||||||
7.38%, 04/23/21 (Call 04/23/17)a | USD | 400 | 409,000 | |||||||||
|
| |||||||||||
6,948,079 | ||||||||||||
MARSHALL ISLAND — 0.05% |
| |||||||||||
Navios Maritime Holdings Inc./Navios Maritime Finance II U.S. Inc. |
| |||||||||||
7.38%, 01/15/22 (Call 01/15/17)a | USD | 50 | 46,000 | |||||||||
|
| |||||||||||
46,000 | ||||||||||||
NETHERLANDS — 2.38% |
| |||||||||||
Fiat Chrysler Automobiles NV |
| |||||||||||
5.25%, 04/15/23a | USD | 200 | 201,710 | |||||||||
Fresenius Finance BV |
| |||||||||||
4.00%, 02/01/24c | EUR | 100 | 132,102 | |||||||||
General Motors Financial International BV |
| |||||||||||
0.85%, 02/23/18c | EUR | 100 | 111,271 | |||||||||
Grupo Isolux Corsan Finance BV |
| |||||||||||
6.63%, 04/15/21 (Call 04/15/17)c | EUR | 100 | 96,367 | |||||||||
Hertz Holdings Netherlands BV |
| |||||||||||
4.38%, 01/15/19c | EUR | 100 | 113,736 | |||||||||
LGE HoldCo VI BV |
| |||||||||||
7.13%, 05/15/24 (Call 05/15/19)c | EUR | 100 | 126,342 | |||||||||
NXP BV/NXP Funding LLC |
| |||||||||||
3.75%, 06/01/18a | USD | 200 | 205,250 | |||||||||
OI European Group BV |
| |||||||||||
6.75%, 09/15/20c | EUR | 100 | 134,186 | |||||||||
Phoenix PIB Dutch Finance BV |
| |||||||||||
3.13%, 05/27/20c | EUR | 100 | 117,321 | |||||||||
Samvardhana Motherson Automotive Systems Group BV |
| |||||||||||
4.13%, 07/15/21 (Call 07/15/17)c | EUR | 100 | 114,856 | |||||||||
Schaeffler Finance BV |
| |||||||||||
3.25%, 05/15/19 (Call 05/15/16)c | EUR | 100 | 114,296 | |||||||||
4.75%, 05/15/21 (Call 05/15/16)a | USD | 200 | 204,500 | |||||||||
Selecta Group BV |
| |||||||||||
6.50%, 06/15/20 (Call 12/15/16)c | EUR | 100 | 113,456 |
Security | Principal (000s) | Value | ||||||||||
Sensata Technologies BV |
| |||||||||||
4.88%, 10/15/23a | USD | 25 | $ | 26,000 | ||||||||
5.00%, 10/01/25a | USD | 50 | 51,500 | |||||||||
5.63%, 11/01/24a,b | USD | 50 | 53,750 | |||||||||
UPC Holding BV |
| |||||||||||
6.75%, 03/15/23 (Call 03/15/18)c | EUR | 100 | 122,980 | |||||||||
Ziggo Secured Finance BV |
| |||||||||||
3.75%, 01/15/25 (Call 01/15/20)c | EUR | 100 | 113,456 | |||||||||
|
| |||||||||||
2,153,079 | ||||||||||||
NORWAY — 0.16% |
| |||||||||||
Lock AS |
| |||||||||||
7.00%, 08/15/21 (Call 08/15/17)c | EUR | 100 | 121,580 | |||||||||
Norske Skog Holding AS |
| |||||||||||
8.00%, 02/24/21 (Call 02/24/18)c | EUR | 31 | 23,774 | |||||||||
|
| |||||||||||
145,354 | ||||||||||||
PORTUGAL — 0.25% |
| |||||||||||
Novo Banco SA |
| |||||||||||
2.63%, 05/08/17c | EUR | 100 | 109,435 | |||||||||
5.88%, 11/09/15c | EUR | 100 | 112,559 | |||||||||
|
| |||||||||||
221,994 | ||||||||||||
SINGAPORE — 0.12% |
| |||||||||||
Flextronics International Ltd. |
| |||||||||||
4.63%, 02/15/20 | USD | 100 | 104,000 | |||||||||
|
| |||||||||||
104,000 | ||||||||||||
SPAIN — 1.20% |
| |||||||||||
Abengoa Finance SAU |
| |||||||||||
8.88%, 11/01/17a,b | USD | 150 | 156,000 | |||||||||
Abengoa Greenfield SA |
| |||||||||||
5.50%, 10/01/19c | EUR | 100 | 102,536 | |||||||||
Banco de Sabadell SA |
| |||||||||||
6.25%, 04/26/20 | EUR | 50 | 64,712 | |||||||||
Bankia SA |
| |||||||||||
4.00%, 05/22/24 (Call 05/22/19)c,d | EUR | 100 | 111,775 | |||||||||
4.38%, 02/14/17 | EUR | 100 | 119,100 | |||||||||
Bankinter SA |
| |||||||||||
6.38%, 09/11/19 | EUR | 50 | 65,564 |
50 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
BBVA International Preferred SAU |
| |||||||||||
5.92%, 04/29/49 (Call 04/18/17)d | USD | 50 | $ | 51,625 | ||||||||
BPE Financiaciones SA |
| |||||||||||
2.88%, 05/19/16 | EUR | 100 | 114,167 | |||||||||
CaixaBank SA |
| |||||||||||
5.00%, 11/14/23 (Call 11/14/18)c,d | EUR | 100 | 120,646 | |||||||||
Mapfre SA |
| |||||||||||
5.92%, 07/24/37 (Call 07/24/17)d | EUR | 50 | 60,230 | |||||||||
Obrascon Huarte Lain SA |
| |||||||||||
7.63%, 03/15/20 (Call 03/15/16)c | EUR | 100 | 118,918 | |||||||||
|
| |||||||||||
1,085,273 | ||||||||||||
SWEDEN — 0.26% |
| |||||||||||
Verisure Holding AB |
| |||||||||||
8.75%, 09/01/18 (Call 06/01/15)c | EUR | 100 | 118,778 | |||||||||
Volvo Treasury AB |
| |||||||||||
4.20%, 06/10/75 (Call 06/10/20)c,d | EUR | 100 | 115,282 | |||||||||
|
| |||||||||||
234,060 | ||||||||||||
UNITED KINGDOM — 6.19% |
| |||||||||||
Algeco Scotsman Global Finance PLC |
| |||||||||||
8.50%, 10/15/18 (Call 10/15/15)a,b | USD | 200 | 194,500 | |||||||||
Arqiva Broadcast Finance PLC |
| |||||||||||
9.50%, 03/31/20 (Call 03/31/16)c | GBP | 100 | 170,964 | |||||||||
Boparan Finance PLC |
| |||||||||||
4.38%, 07/15/21 (Call 07/15/17)c | EUR | 100 | 102,530 | |||||||||
British Airways PLC |
| |||||||||||
8.75%, 08/23/16 | GBP | 50 | 83,003 | |||||||||
Co-Operative Bank PLC/United Kingdom |
| |||||||||||
5.13%, 09/20/17 | GBP | 50 | 75,109 | |||||||||
EC Finance PLC |
| |||||||||||
5.13%, 07/15/21 (Call 01/15/17)c | EUR | 100 | 117,896 | |||||||||
Eco-Bat Finance PLC |
| |||||||||||
7.75%, 02/15/17 (Call 06/01/15)c | EUR | 100 | 112,055 |
Security | Principal (000s) | Value | ||||||||||
ERB Hellas PLC |
| |||||||||||
4.25%, 06/26/18c | EUR | 100 | $ | 69,332 | ||||||||
Gala Group Finance PLC |
| |||||||||||
8.88%, 09/01/18 (Call 06/01/15)c | GBP | 90 | 144,531 | |||||||||
Ineos Finance PLC |
| |||||||||||
7.50%, 05/01/20 (Call 05/06/15)a | USD | 200 | 211,200 | |||||||||
Inmarsat Finance PLC |
| |||||||||||
4.88%, 05/15/22 (Call 05/15/17)a,b | USD | 100 | 100,500 | |||||||||
International Game Technology PLC |
| |||||||||||
4.75%, 02/15/23 (Call 08/15/22)c | EUR | 100 | 113,624 | |||||||||
6.25%, 02/15/22 (Call 08/15/21)a,b | USD | 250 | 246,250 | |||||||||
Iron Mountain Europe PLC |
| |||||||||||
6.13%, 09/15/22 (Call 09/15/17)c | GBP | 100 | 161,758 | |||||||||
Jaguar Land Rover Automotive PLC |
| |||||||||||
3.88%, 03/01/23c | GBP | 100 | 152,138 | |||||||||
Kerling PLC |
| |||||||||||
10.63%, 02/01/17 (Call 06/01/15)c | EUR | 50 | 57,498 | |||||||||
Matalan Finance PLC |
| |||||||||||
6.88%, 06/01/19 (Call 05/30/16)a | GBP | 100 | 155,980 | |||||||||
Odeon & UCI Finco PLC |
| |||||||||||
9.00%, 08/01/18 (Call 05/11/15)c | GBP | 100 | 156,749 | |||||||||
OTE PLC |
| |||||||||||
3.50%, 07/09/20 c | EUR | 100 | 101,410 | |||||||||
Piraeus Group Finance PLC |
| |||||||||||
5.00%, 03/27/17c | EUR | 100 | 76,758 | |||||||||
PPC Finance PLC |
| |||||||||||
5.50%, 05/01/19 (Call 05/01/16)c | EUR | 100 | 79,559 | |||||||||
Priory Group No. 3 PLC |
| |||||||||||
7.00%, 02/15/18 (Call 06/01/15)a | GBP | 61 | 97,655 | |||||||||
Rexam PLC |
| |||||||||||
6.75%, 06/29/67 (Call 06/29/17)c,d | EUR | 50 | 57,921 |
SCHEDULESOF INVESTMENTS | 51 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Royal Bank of Scotland Group PLC |
| |||||||||||
3.63%, 03/25/24 (Call 03/25/19)c,d | EUR | 100 | $ | 116,683 | ||||||||
5.13%, 05/28/24 | USD | 200 | 206,410 | |||||||||
6.00%, 12/19/23 | USD | 100 | 109,813 | |||||||||
6.10%, 06/10/23 | USD | 75 | 82,550 | |||||||||
6.13%, 12/15/22 | USD | 200 | 223,051 | |||||||||
Royal Bank of Scotland PLC (The) |
| |||||||||||
4.35%, 01/23/17 | EUR | 100 | 117,810 | |||||||||
4.63%, 09/22/21 (Call 09/22/16)d | EUR | 100 | 115,697 | |||||||||
6.93%, 04/09/18 | EUR | 100 | 128,336 | |||||||||
Tesco Corporate Treasury Services PLC |
| |||||||||||
1.38%, 07/01/19c | EUR | 100 | 108,929 | |||||||||
2.50%, 07/01/24c | EUR | 100 | 110,038 | |||||||||
Tesco PLC |
| |||||||||||
6.13%, 02/24/22 | GBP | 100 | 171,775 | |||||||||
Thomas Cook Finance PLC |
| |||||||||||
7.75%, 06/15/20 (Call 06/15/16)c | EUR | 100 | 120,459 | |||||||||
Tullow Oil PLC |
| |||||||||||
6.00%, 11/01/20 (Call 11/01/16)a | USD | 200 | 184,000 | |||||||||
Twinkle Pizza PLC |
| |||||||||||
6.63%, 08/01/21 (Call 08/01/17)c | GBP | 100 | 162,511 | |||||||||
Virgin Media Finance PLC |
| |||||||||||
4.50%, 01/15/25 (Call 01/15/20)c | EUR | 100 | 114,296 | |||||||||
Virgin Media Secured Finance PLC |
| |||||||||||
5.13%, 01/15/25 (Call 01/15/20)c | GBP | 100 | 157,517 | |||||||||
5.25%, 01/15/26 (Call 01/15/20)a | USD | 200 | 199,000 | |||||||||
5.38%, 04/15/21 (Call 04/15/17)a | USD | 180 | 188,550 | |||||||||
5.50%, 01/15/25 (Call 01/15/19)c | GBP | 90 | 141,765 | |||||||||
|
| |||||||||||
5,598,110 | ||||||||||||
UNITED STATES — 59.66% |
| |||||||||||
Activision Blizzard Inc. |
| |||||||||||
5.63%, 09/15/21 (Call 09/15/16)a | USD | 125 | 133,437 |
Security | Principal (000s) | Value | ||||||||||
6.13%, 09/15/23 (Call 09/15/18)a | USD | 50 | $ | 55,125 | ||||||||
ADT Corp. (The) |
| |||||||||||
2.25%, 07/15/17 | USD | 50 | 49,813 | |||||||||
3.50%, 07/15/22 | USD | 75 | 70,687 | |||||||||
4.13%, 04/15/19b | USD | 25 | 25,490 | |||||||||
4.13%, 06/15/23b | USD | 50 | 47,750 | |||||||||
6.25%, 10/15/21b | USD | 100 | 107,852 | |||||||||
Advanced Micro Devices Inc. |
| |||||||||||
6.75%, 03/01/19 | USD | 50 | 43,500 | |||||||||
7.00%, 07/01/24 (Call 07/01/19) | USD | 25 | 19,313 | |||||||||
7.50%, 08/15/22 | USD | 50 | 40,875 | |||||||||
7.75%, 08/01/20 (Call 08/01/15)b | USD | 50 | 40,750 | |||||||||
AECOM |
| |||||||||||
5.75%, 10/15/22 (Call 10/15/17)a | USD | 25 | 25,813 | |||||||||
5.88%, 10/15/24 (Call 07/15/24)a | USD | 100 | 104,000 | |||||||||
AES Corp./VA |
| |||||||||||
4.88%, 05/15/23 (Call 05/15/18)b | USD | 100 | 97,937 | |||||||||
7.38%, 07/01/21 (Call 06/01/21) | USD | 100 | 112,250 | |||||||||
Affinion Group Inc. |
| |||||||||||
7.88%, 12/15/18 (Call 06/01/15)b | USD | 50 | 31,250 | |||||||||
AK Steel Corp. |
| |||||||||||
7.63%, 05/15/20 (Call 06/01/15)b | USD | 40 | 34,400 | |||||||||
7.63%, 10/01/21 (Call 10/01/17) | USD | 50 | 40,750 | |||||||||
Albertsons Holdings LLC/Saturn Acquisition Merger Sub Inc. |
| |||||||||||
7.75%, 10/15/22 (Call 10/15/17)a,b | USD | 75 | 81,375 | |||||||||
Alcatel-Lucent USA Inc. |
| |||||||||||
6.75%, 11/15/20 (Call 11/15/16)a | USD | 200 | 215,750 | |||||||||
Alcoa Inc. |
| |||||||||||
5.13%, 10/01/24 (Call 07/01/24) | USD | 100 | 107,000 | |||||||||
5.40%, 04/15/21 (Call 01/15/21) | USD | 125 | 136,562 |
52 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
6.15%, 08/15/20 | USD | 100 | $ | 113,000 | ||||||||
6.75%, 07/15/18 | USD | 50 | 56,500 | |||||||||
Alere Inc. |
| |||||||||||
7.25%, 07/01/18 (Call 12/15/15) | USD | 50 | 53,063 | |||||||||
8.63%, 10/01/18 (Call 06/01/15) | USD | 50 | 51,813 | |||||||||
Aleris International Inc. |
| |||||||||||
7.63%, 02/15/18 (Call 06/01/15) | USD | 50 | 51,625 | |||||||||
7.88%, 11/01/20 (Call 11/01/15) | USD | 50 | 51,750 | |||||||||
Allegheny Technologies Inc. |
| |||||||||||
6.38%, 08/15/23 (Call 05/15/23) | USD | 100 | 105,665 | |||||||||
Ally Financial Inc. |
| |||||||||||
3.50%, 07/18/16 | USD | 150 | 151,969 | |||||||||
3.50%, 01/27/19 | USD | 100 | 99,750 | |||||||||
3.75%, 11/18/19 | USD | 100 | 99,750 | |||||||||
4.13%, 03/30/20 | USD | 50 | 50,250 | |||||||||
4.13%, 02/13/22 | USD | 50 | 49,125 | |||||||||
4.75%, 09/10/18 | USD | 100 | 104,000 | |||||||||
5.13%, 09/30/24 | USD | 75 | 77,625 | |||||||||
5.50%, 02/15/17 | USD | 100 | 104,625 | |||||||||
6.25%, 12/01/17 | USD | 100 | 107,250 | |||||||||
7.50%, 09/15/20 | USD | 100 | 116,750 | |||||||||
8.00%, 03/15/20 | USD | 100 | 118,750 | |||||||||
Alpha Natural Resources Inc. |
| |||||||||||
6.25%, 06/01/21 (Call 06/01/16) | USD | 75 | 14,438 | |||||||||
7.50%, 08/01/20 (Call 08/01/16)a,b | USD | 50 | 18,375 | |||||||||
9.75%, 04/15/18 | USD | 50 | 17,000 | |||||||||
AMC Networks Inc. |
| |||||||||||
4.75%, 12/15/22 (Call 12/15/17) | USD | 100 | 101,750 | |||||||||
American Airlines Group Inc. |
| |||||||||||
5.50%, 10/01/19a | USD | 100 | 103,250 | |||||||||
American Axle & Manufacturing Inc. |
| |||||||||||
6.25%, 03/15/21 (Call 03/15/16)b | USD | 50 | 52,625 | |||||||||
6.63%, 10/15/22 (Call 10/15/17) | USD | 50 | 53,375 |
Security | Principal (000s) | Value | ||||||||||
American Energy-Permian Basin LLC/AEPB Finance Corp. |
| |||||||||||
7.13%, 11/01/20 (Call 01/31/17)a | USD | 100 | $ | 73,750 | ||||||||
AmeriGas Finance LLC/AmeriGas Finance Corp. |
| |||||||||||
6.75%, 05/20/20 (Call 05/20/16) | USD | 50 | 52,875 | |||||||||
7.00%, 05/20/22 (Call 05/20/17) | USD | 100 | 107,750 | |||||||||
Amkor Technology Inc. |
| |||||||||||
6.38%, 10/01/22 (Call 10/01/16)b | USD | 50 | 51,375 | |||||||||
6.63%, 06/01/21 (Call 06/01/15) | USD | 25 | 25,750 | |||||||||
Amsurg Corp. |
| |||||||||||
5.63%, 07/15/22 (Call 07/15/17) | USD | 100 | 101,625 | |||||||||
Antero Resources Corp. |
| |||||||||||
5.13%, 12/01/22 (Call 06/01/17) | USD | 50 | 50,000 | |||||||||
5.38%, 11/01/21 (Call 11/01/16) | USD | 100 | 100,736 | |||||||||
5.63%, 06/01/23 (Call 06/01/18)a | USD | 50 | 51,125 | |||||||||
6.00%, 12/01/20 (Call 12/01/15) | USD | 50 | 51,125 | |||||||||
APX Group Inc. |
| |||||||||||
6.38%, 12/01/19 (Call 12/01/15) | USD | 50 | 49,750 | |||||||||
8.75%, 12/01/20 (Call 12/01/15)b | USD | 75 | 69,187 | |||||||||
Aramark Services Inc. |
| |||||||||||
5.75%, 03/15/20 (Call 06/01/15) | USD | 100 | 104,564 | |||||||||
ARC Properties Operating Partnership LP |
| |||||||||||
4.60%, 02/06/24 (Call 11/06/23) | USD | 50 | 49,063 | |||||||||
Arch Coal Inc. |
| |||||||||||
7.25%, 06/15/21 (Call 06/15/16) | USD | 150 | 32,250 | |||||||||
Argos Merger Sub Inc. |
| |||||||||||
7.13%, 03/15/23 (Call 03/15/18)a | USD | 85 | 89,037 |
SCHEDULESOF INVESTMENTS | 53 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Ashland Inc. |
| |||||||||||
3.88%, 04/15/18 (Call 03/15/18) | USD | 50 | $ | 51,688 | ||||||||
4.75%, 08/15/22 (Call 05/15/22)b | USD | 100 | 102,750 | |||||||||
Ashtead Capital Inc. |
| |||||||||||
5.63%, 10/01/24 (Call 10/01/19)a | USD | 200 | 210,000 | |||||||||
Audatex North America Inc. |
| |||||||||||
6.00%, 06/15/21 (Call 06/15/17)a | USD | 125 | 129,375 | |||||||||
6.13%, 11/01/23 (Call 11/01/18)a | USD | 40 | 41,800 | |||||||||
Avaya Inc. |
| |||||||||||
7.00%, 04/01/19 (Call 06/01/15)a | USD | 50 | 49,875 | |||||||||
10.50%, 03/01/21 (Call 03/01/17)a,b | USD | 100 | 87,500 | |||||||||
Avis Budget Car Rental LLC/Avis Budget Finance Inc. |
| |||||||||||
5.13%, 06/01/22 (Call 06/01/17)a | USD | 25 | 25,313 | |||||||||
Avon Products Inc. |
| |||||||||||
5.75%, 03/15/23 | USD | 50 | 45,397 | |||||||||
Axiall Corp. |
| |||||||||||
4.88%, 05/15/23 (Call 05/15/18)b | USD | 50 | 50,375 | |||||||||
Ball Corp. |
| |||||||||||
4.00%, 11/15/23 | USD | 75 | 73,219 | |||||||||
5.00%, 03/15/22b | USD | 50 | 52,125 | |||||||||
Belden Inc. |
| |||||||||||
5.50%, 04/15/23 (Call 04/15/18)c | EUR | 100 | 119,899 | |||||||||
Berry Petroleum Co. LLC |
| |||||||||||
6.38%, 09/15/22 (Call 03/15/17) | USD | 50 | 41,125 | |||||||||
Berry Plastics Corp. |
| |||||||||||
5.50%, 05/15/22 (Call 05/15/17) | USD | 50 | 51,750 | |||||||||
Best Buy Co. Inc. |
| |||||||||||
5.50%, 03/15/21 (Call 12/15/20) | USD | 50 | 53,000 | |||||||||
Biomet Inc. |
| |||||||||||
6.50%, 08/01/20 (Call 08/01/15) | USD | 125 | 132,187 |
Security | Principal (000s) | Value | ||||||||||
BlueLine Rental Finance Corp. |
| |||||||||||
7.00%, 02/01/19 (Call 02/01/16)a | USD | 50 | $ | 51,500 | ||||||||
BMC Software Finance Inc. |
| |||||||||||
8.13%, 07/15/21 (Call 07/15/16)a | USD | 125 | 115,000 | |||||||||
Boyd Gaming Corp. |
| |||||||||||
9.13%, 12/01/18 (Call 06/01/15) | USD | 25 | 26,125 | |||||||||
BreitBurn Energy Partners LP/BreitBurn Finance Corp. |
| |||||||||||
7.88%, 04/15/22 (Call 01/15/17) | USD | 75 | 61,060 | |||||||||
Building Materials Corp. of America |
| |||||||||||
5.38%, 11/15/24 (Call 11/15/19)a | USD | 75 | 76,875 | |||||||||
6.75%, 05/01/21 (Call 05/01/16)a | USD | 100 | 106,250 | |||||||||
Cablevision Systems Corp. |
| |||||||||||
5.88%, 09/15/22 | USD | 50 | 52,688 | |||||||||
7.75%, 04/15/18 | USD | 50 | 56,000 | |||||||||
8.00%, 04/15/20 | USD | 75 | 86,062 | |||||||||
8.63%, 09/15/17 | USD | 50 | 56,375 | |||||||||
Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Properties |
| |||||||||||
8.00%, 10/01/20 (Call 10/01/16) | USD | 50 | 50,000 | |||||||||
11.00%, 10/01/21 (Call 10/01/16)b | USD | 100 | 89,250 | |||||||||
California Resources Corp. |
| |||||||||||
5.50%, 09/15/21 (Call 06/15/21)b | USD | 200 | 189,000 | |||||||||
6.00%, 11/15/24 b | USD | 175 | 164,937 | |||||||||
Calpine Corp. |
| |||||||||||
5.38%, 01/15/23 (Call 10/15/18)b | USD | 200 | 202,250 | |||||||||
5.75%, 01/15/25 (Call 10/15/19)b | USD | 100 | 100,500 | |||||||||
5.88%, 01/15/24 (Call 11/01/18)a | USD | 25 | 26,750 | |||||||||
6.00%, 01/15/22 (Call 11/01/16)a | USD | 25 | 26,563 | |||||||||
7.88%, 01/15/23 (Call 01/15/17)a | USD | 100 | 110,250 |
54 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Calumet Specialty Products Partners LP/Calumet Finance Corp. |
| |||||||||||
6.50%, 04/15/21 (Call 04/15/17)a | USD | 75 | $ | 74,437 | ||||||||
Carrizo Oil & Gas Inc. |
| |||||||||||
6.25%, 04/15/23 (Call 04/15/18) | USD | 80 | 81,584 | |||||||||
Case New Holland Industrial Inc. |
| |||||||||||
7.88%, 12/01/17 | USD | 100 | 110,750 | |||||||||
CBRE Services Inc. |
| |||||||||||
5.00%, 03/15/23 (Call 03/15/18) | USD | 50 | 52,000 | |||||||||
5.25%, 03/15/25 (Call 12/15/24) | USD | 50 | 54,000 | |||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. |
| |||||||||||
5.13%, 02/15/23 (Call 02/15/18) | USD | 100 | 99,000 | |||||||||
5.13%, 05/01/23 (Call 05/01/18)a | USD | 50 | 49,500 | |||||||||
5.25%, 09/30/22 (Call 09/30/17) | USD | 100 | 99,500 | |||||||||
5.38%, 05/01/25 (Call 05/01/20)a | USD | 50 | 49,125 | |||||||||
5.75%, 09/01/23 (Call 03/01/18) | USD | 50 | 50,750 | |||||||||
5.75%, 01/15/24 (Call 07/15/18)b | USD | 100 | 101,250 | |||||||||
5.88%, 05/01/27 (Call 05/01/21)a | USD | 50 | 49,250 | |||||||||
6.50%, 04/30/21 (Call 06/01/15)b | USD | 150 | 156,750 | |||||||||
6.63%, 01/31/22 (Call 01/31/17) | USD | 50 | 53,313 | |||||||||
7.00%, 01/15/19 (Call 06/01/15) | USD | 100 | 103,875 | |||||||||
7.38%, 06/01/20 (Call 12/01/15) | USD | 50 | 53,000 | |||||||||
CDW LLC/CDW Finance Corp. |
| |||||||||||
5.50%, 12/01/24 (Call 06/01/24) | USD | 50 | 53,188 | |||||||||
6.00%, 08/15/22 (Call 08/15/17) | USD | 50 | 54,000 |
Security | Principal (000s) | Value | ||||||||||
CenturyLink Inc. |
| |||||||||||
Series V |
| |||||||||||
5.63%, 04/01/20 | USD | 100 | $ | 105,250 | ||||||||
5.63%, 04/01/25 (Call 01/01/25)a | USD | 50 | 49,750 | |||||||||
5.80%, 03/15/22 | USD | 100 | 103,750 | |||||||||
6.00%, 04/01/17 | USD | 100 | 106,750 | |||||||||
6.45%, 06/15/21 | USD | 100 | 107,750 | |||||||||
Series W |
| |||||||||||
6.75%, 12/01/23b | USD | 50 | 54,250 | |||||||||
Cenveo Corp. |
| |||||||||||
6.00%, 08/01/19 (Call 02/01/19)a | USD | 50 | 46,500 | |||||||||
Cequel Communications Holdings I LLC/Cequel Capital Corp. |
| |||||||||||
5.13%, 12/15/21 (Call 06/15/16)a | USD | 75 | 75,562 | |||||||||
6.38%, 09/15/20 (Call 09/15/15)a | USD | 100 | 105,500 | |||||||||
Chaparral Energy Inc. |
| |||||||||||
7.63%, 11/15/22 (Call 05/15/17) | USD | 75 | 59,063 | |||||||||
Chesapeake Energy Corp. |
| |||||||||||
4.88%, 04/15/22 (Call 04/15/17) | USD | 100 | 92,750 | |||||||||
5.38%, 06/15/21 (Call 06/15/16)b | USD | 50 | 48,220 | |||||||||
5.75%, 03/15/23b | USD | 100 | 98,250 | |||||||||
6.13%, 02/15/21 | USD | 100 | 100,875 | |||||||||
6.25%, 01/15/17 | EUR | 50 | 59,669 | |||||||||
6.50%, 08/15/17 | USD | 50 | 53,136 | |||||||||
6.63%, 08/15/20b | USD | 100 | 103,298 | |||||||||
7.25%, 12/15/18 | USD | 100 | 107,000 | |||||||||
CHS/Community Health Systems Inc. |
| |||||||||||
5.13%, 08/15/18 (Call 08/15/15) | USD | 100 | 103,000 | |||||||||
5.13%, 08/01/21 (Call 02/01/17) | USD | 75 | 77,719 | |||||||||
6.88%, 02/01/22 (Call 02/01/18)(b) | USD | 225 | 239,625 | |||||||||
7.13%, 07/15/20 (Call 07/15/16) | USD | 100 | 106,875 | |||||||||
8.00%, 11/15/19 (Call 11/15/15) | USD | 150 | 159,562 |
SCHEDULESOF INVESTMENTS | 55 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Cimarex Energy Co. |
| |||||||||||
4.38%, 06/01/24 (Call 03/01/24) | USD | 100 | $ | 101,354 | ||||||||
Cincinnati Bell Inc. |
| |||||||||||
8.38%, 10/15/20 (Call 10/15/15) | USD | 81 | 86,062 | |||||||||
Cinemark USA Inc. |
| |||||||||||
4.88%, 06/01/23 (Call 06/01/18) | USD | 50 | 50,375 | |||||||||
5.13%, 12/15/22 (Call 12/15/17) | USD | 50 | 51,685 | |||||||||
CIT Group Inc. |
| |||||||||||
3.88%, 02/19/19 | USD | 100 | 99,375 | |||||||||
4.25%, 08/15/17 | USD | 100 | 101,875 | |||||||||
5.00%, 05/15/17b | USD | 100 | 103,500 | |||||||||
5.00%, 08/15/22 | USD | 100 | 102,812 | |||||||||
5.00%, 08/01/23b | USD | 50 | 51,469 | |||||||||
5.25%, 03/15/18 | USD | 150 | 155,812 | |||||||||
5.38%, 05/15/20 | USD | 75 | 79,125 | |||||||||
5.50%, 02/15/19a,b | USD | 100 | 104,530 | |||||||||
6.63%, 04/01/18a | USD | 100 | 107,250 | |||||||||
Citgo Holding Inc. |
| |||||||||||
10.75%, 02/15/20a | USD | 100 | 105,750 | |||||||||
Claire’s Stores Inc. |
| |||||||||||
8.88%, 03/15/19 (Call 06/01/15)b | USD | 25 | 12,875 | |||||||||
9.00%, 03/15/19 (Call 06/01/15)a | USD | 100 | 89,250 | |||||||||
Clean Harbors Inc. |
| |||||||||||
5.13%, 06/01/21 (Call 12/01/16) | USD | 50 | 51,125 | |||||||||
5.25%, 08/01/20 (Call 08/01/16) | USD | 50 | 51,500 | |||||||||
Clear Channel Worldwide Holdings Inc. |
| |||||||||||
6.50%, 11/15/22 (Call 11/15/17) | 200 | 210,750 | ||||||||||
Series B |
| |||||||||||
7.63%, 03/15/20 (Call 06/01/15)b | USD | 175 | 183,750 | |||||||||
Cliffs Natural Resources Inc. |
| |||||||||||
5.95%, 01/15/18b | USD | 50 | 40,750 | |||||||||
7.75%, 03/31/20 (Call 03/31/17)a,b | USD | 82 | 59,040 |
Security | Principal (000s) | Value | ||||||||||
8.25%, 03/31/20 (Call 03/31/18)a | USD | 50 | $ | 48,938 | ||||||||
CNH Industrial Capital LLC |
| |||||||||||
3.25%, 02/01/17 | USD | 100 | 100,000 | |||||||||
3.63%, 04/15/18 | USD | 100 | 100,500 | |||||||||
Commercial Metals Co. |
| |||||||||||
7.35%, 08/15/18b | USD | 100 | 108,500 | |||||||||
CommScope Inc. |
| |||||||||||
5.00%, 06/15/21 (Call 06/15/17)a | USD | 75 | 74,812 | |||||||||
5.50%, 06/15/24 (Call 06/15/19)a | USD | 50 | 50,250 | |||||||||
Communications Sales & Leasing Inc. |
| |||||||||||
6.00%, 04/15/23 (Call 04/15/18)a | USD | 25 | 25,125 | |||||||||
8.25%, 10/15/23 (Call 04/15/19)a | USD | 75 | 76,875 | |||||||||
Comstock Resources Inc. |
| |||||||||||
10.00%, 03/15/20 (Call 03/15/16)a | USD | 50 | 49,000 | |||||||||
Concho Resources Inc. |
| |||||||||||
5.50%, 10/01/22 (Call 10/01/17) | USD | 50 | 51,200 | |||||||||
5.50%, 04/01/23 (Call 10/01/17)b | USD | 100 | 101,875 | |||||||||
6.50%, 01/15/22 (Call 01/15/17) | USD | 100 | 105,436 | |||||||||
CONSOL Energy Inc. |
| |||||||||||
5.88%, 04/15/22 (Call 04/15/17) | USD | 150 | 138,000 | |||||||||
8.00%, 04/01/23 (Call 04/01/18)a | USD | 25 | 25,375 | |||||||||
Constellation Brands Inc. |
| |||||||||||
4.25%, 05/01/23 | USD | 50 | 51,625 | |||||||||
4.75%, 11/15/24 | USD | 50 | 53,188 | |||||||||
6.00%, 05/01/22b | USD | 100 | 114,375 | |||||||||
7.25%, 05/15/17 | USD | 100 | 110,250 | |||||||||
Cott Beverages Inc. |
| |||||||||||
6.75%, 01/01/20 (Call 01/01/17)a | USD | 100 | 104,130 | |||||||||
Covanta Holding Corp. |
| |||||||||||
5.88%, 03/01/24 (Call 03/01/19) | USD | 75 | 77,437 |
56 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. |
| |||||||||||
6.13%, 03/01/22 (Call 11/01/16) | USD | 75 | $ | 76,969 | ||||||||
6.25%, 04/01/23 (Call 04/01/18)a,b | USD | 50 | 51,625 | |||||||||
Crimson Merger Sub Inc. |
| |||||||||||
6.63%, 05/15/22 (Call 05/15/17)a,b | USD | 100 | 88,625 | |||||||||
Crown Americas LLC/Crown Americas Capital Corp. III |
| |||||||||||
6.25%, 02/01/21 (Call 02/01/16) | USD | 50 | 52,750 | |||||||||
Crown Americas LLC/Crown Americas Capital Corp. IV |
| |||||||||||
4.50%, 01/15/23 | USD | 50 | 50,500 | |||||||||
Crown Castle International Corp. |
| |||||||||||
4.88%, 04/15/22 | USD | 50 | 51,875 | |||||||||
5.25%, 01/15/23 | USD | 150 | 158,625 | |||||||||
CSC Holdings LLC |
| |||||||||||
5.25%, 06/01/24a | USD | 50 | 51,938 | |||||||||
6.75%, 11/15/21 | USD | 100 | 112,750 | |||||||||
8.63%, 02/15/19 | USD | 50 | 58,031 | |||||||||
Dana Holding Corp. |
| |||||||||||
5.38%, 09/15/21 (Call 09/15/16) | USD | 50 | 51,875 | |||||||||
5.50%, 12/15/24 (Call 12/15/19) | USD | 50 | 51,375 | |||||||||
DaVita HealthCare Partners Inc. |
| |||||||||||
5.00%, 05/01/25 (Call 05/01/20) | USD | 45 | 45,056 | |||||||||
5.13%, 07/15/24 (Call 07/15/19)b | USD | 125 | 127,969 | |||||||||
5.75%, 08/15/22 (Call 08/15/17) | USD | 50 | 53,125 | |||||||||
DCP Midstream LLC |
| |||||||||||
5.85%, 05/21/43 (Call 05/21/23)a,d | USD | 50 | 38,000 | |||||||||
Dell Inc. |
| |||||||||||
5.65%, 04/15/18 | USD | 50 | 53,813 | |||||||||
5.88%, 06/15/19 | USD | 50 | 54,438 | |||||||||
Denbury Resources Inc. |
| |||||||||||
4.63%, 07/15/23 (Call 01/15/18) | USD | 100 | 89,983 | |||||||||
5.50%, 05/01/22 (Call 05/01/17) | USD | 100 | 95,250 |
Security | Principal (000s) | Value | ||||||||||
DISH DBS Corp. |
| |||||||||||
4.25%, 04/01/18 | USD | 100 | $ | 101,500 | ||||||||
4.63%, 07/15/17 | USD | 100 | 103,000 | |||||||||
5.00%, 03/15/23 | USD | 125 | 118,750 | |||||||||
5.13%, 05/01/20 | USD | 100 | 101,000 | |||||||||
5.88%, 07/15/22b | USD | 150 | 151,125 | |||||||||
5.88%, 11/15/24 | USD | 100 | 98,250 | |||||||||
6.75%, 06/01/21 | USD | 150 | 159,187 | |||||||||
7.88%, 09/01/19 | USD | 100 | 112,500 | |||||||||
DJO Finance LLC/DJO Finance Corp. |
| |||||||||||
9.88%, 04/15/18 (Call 05/16/15) | USD | 50 | 52,500 | |||||||||
DPL Inc. |
| |||||||||||
6.50%, 10/15/16 (Call 09/15/16) | USD | 27 | 28,350 | |||||||||
7.25%, 10/15/21 (Call 07/15/21) | USD | 100 | 108,007 | |||||||||
DR Horton Inc. |
| |||||||||||
3.63%, 02/15/18 (Call 11/15/17) | USD | 100 | 102,500 | |||||||||
4.00%, 02/15/20 | USD | 50 | 50,688 | |||||||||
Dynegy Inc. |
| |||||||||||
6.75%, 11/01/19 (Call 05/01/17)a | USD | 150 | 157,125 | |||||||||
7.38%, 11/01/22 (Call 11/01/18)a | USD | 100 | 106,500 | |||||||||
7.63%, 11/01/24 (Call 11/01/19)a | USD | 150 | 161,250 | |||||||||
E*TRADE Financial Corp. |
| |||||||||||
5.38%, 11/15/22 (Call 11/15/17) | USD | 30 | 31,800 | |||||||||
Eagle Spinco Inc. |
| |||||||||||
4.63%, 02/15/21 (Call 02/15/18) | USD | 50 | 50,625 | |||||||||
Endo Finance LLC |
| |||||||||||
5.75%, 01/15/22 (Call 01/15/17)a | USD | 75 | 76,031 | |||||||||
Endo Finance LLC/Endo Finco Inc. |
| |||||||||||
5.38%, 01/15/23 (Call 07/15/17)a | USD | 25 | 24,750 | |||||||||
Endo Finance LLC/Endo Ltd./Endo Finco Inc. |
| |||||||||||
6.00%, 02/01/25 (Call 02/01/20)a | USD | 200 | 205,500 |
SCHEDULESOF INVESTMENTS | 57 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Energy Transfer Equity LP |
| |||||||||||
5.88%, 01/15/24 (Call 10/15/23) | USD | 75 | $ | 79,125 | ||||||||
7.50%, 10/15/20 | USD | 100 | 112,750 | |||||||||
Energy XXI Gulf Coast Inc. |
| |||||||||||
6.88%, 03/15/24 (Call 03/15/19)a,b | USD | 25 | 9,813 | |||||||||
7.50%, 12/15/21 (Call 12/15/16) | USD | 55 | 22,688 | |||||||||
9.25%, 12/15/17 (Call 06/01/15)b | USD | 100 | 74,437 | |||||||||
11.00%, 03/15/20 (Call 09/15/17)a | USD | 100 | 95,625 | |||||||||
EP Energy LLC/Everest Acquisition Finance Inc. |
| |||||||||||
6.88%, 05/01/19 (Call 06/01/15) | USD | 50 | 51,629 | |||||||||
9.38%, 05/01/20 (Call 05/01/16) | USD | 150 | 160,718 | |||||||||
Equinix Inc. |
| |||||||||||
4.88%, 04/01/20 (Call 04/01/17) | USD | 25 | 25,844 | |||||||||
5.38%, 01/01/22 (Call 01/01/18) | USD | 80 | 83,200 | |||||||||
5.38%, 04/01/23 (Call 04/01/18) | USD | 50 | 51,750 | |||||||||
5.75%, 01/01/25 (Call 01/01/20) | USD | 50 | 52,375 | |||||||||
Evolution Escrow Issuer LLC |
| |||||||||||
7.50%, 03/15/22 (Call 03/15/18)a,b | USD | 50 | 50,625 | |||||||||
EXCO Resources Inc. |
| |||||||||||
8.50%, 04/15/22 (Call 04/15/17) | USD | 75 | 44,624 | |||||||||
Family Tree Escrow LLC |
| |||||||||||
5.25%, 03/01/20 (Call 03/01/17)a | USD | 50 | 52,375 | |||||||||
5.75%, 03/01/23 (Call 03/01/18)a | USD | 235 | 247,044 | |||||||||
FCA U.S. LLC/CG Co-Issuer Inc. |
| |||||||||||
8.00%, 06/15/19 (Call 05/14/15) | USD | 200 | 209,250 | |||||||||
8.25%, 06/15/21 (Call 06/15/16) | USD | 250 | 276,250 |
Security | Principal (000s) | Value | ||||||||||
Felcor Lodging LP |
| |||||||||||
5.63%, 03/01/23 (Call 03/01/18) | USD | 50 | $ | 52,125 | ||||||||
6.75%, 06/01/19 (Call 06/01/15) | USD | 50 | 51,813 | |||||||||
Ferrellgas LP/Ferrellgas Finance Corp. |
| |||||||||||
6.75%, 01/15/22 (Call 11/15/16)b | USD | 75 | 76,969 | |||||||||
Fiat Finance North America Inc. |
| |||||||||||
5.63%, 06/12/17 | EUR | 100 | 120,163 | |||||||||
Fifth Third Bancorp |
| |||||||||||
5.10%, 12/29/49 (Call 06/30/23)d | USD | 50 | 47,500 | |||||||||
First Data Corp. |
| |||||||||||
6.75%, 11/01/20 (Call 11/01/15)a | USD | 197 | 210,297 | |||||||||
8.25%, 01/15/21 (Call 01/15/16)a | USD | 150 | 159,796 | |||||||||
8.88%, 08/15/20 (Call 08/15/15)a | USD | 50 | 52,938 | |||||||||
10.63%, 06/15/21 (Call 04/15/16) | USD | 33 | 37,455 | |||||||||
11.25%, 01/15/21 (Call 01/15/16) | USD | 33 | 37,249 | |||||||||
11.75%, 08/15/21 (Call 05/15/16) | USD | 131 | 150,978 | |||||||||
12.63%, 01/15/21 (Call 01/15/16) | USD | 250 | 294,687 | |||||||||
FirstEnergy Corp. |
| |||||||||||
Series A |
| |||||||||||
2.75%, 03/15/18 (Call 02/15/18) | USD | 100 | 101,997 | |||||||||
Series B |
| |||||||||||
4.25%, 03/15/23 (Call 12/15/22) | USD | 50 | 51,901 | |||||||||
FirstEnergy Transmission LLC |
| |||||||||||
4.35%, 01/15/25 (Call 10/15/24)a | USD | 50 | 52,703 | |||||||||
Florida East Coast Holdings Corp. |
| |||||||||||
6.75%, 05/01/19 (Call 05/01/16)a | USD | 100 | 99,500 | |||||||||
Freescale Semiconductor Inc. |
| |||||||||||
5.00%, 05/15/21 (Call 05/15/16)a | USD | 50 | 52,563 |
58 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
6.00%, 01/15/22 (Call 11/15/16)a | USD | 100 | $ | 108,250 | ||||||||
10.75%, 08/01/20 (Call 08/01/15) | USD | 43 | 46,333 | |||||||||
Fresenius Medical Care U.S. Finance II Inc. |
| |||||||||||
4.75%, 10/15/24 (Call 07/17/24)a | USD | 50 | 52,250 | |||||||||
5.63%, 07/31/19 a,b | USD | 100 | 109,250 | |||||||||
Fresenius Medical Care U.S. Finance Inc. |
| |||||||||||
5.75%, 02/15/21a | USD | 100 | 109,500 | |||||||||
Frontier Communications Corp. |
| |||||||||||
6.25%, 09/15/21 (Call 06/15/21) | USD | 50 | 49,500 | |||||||||
6.88%, 01/15/25 (Call 10/15/24) | USD | 50 | 48,313 | |||||||||
7.13%, 01/15/23 | USD | 100 | 100,000 | |||||||||
7.63%, 04/15/24 | USD | 50 | 51,000 | |||||||||
8.25%, 04/15/17b | USD | 100 | 110,000 | |||||||||
8.50%, 04/15/20 | USD | 100 | 110,875 | |||||||||
8.75%, 04/15/22 | USD | 50 | 54,875 | |||||||||
Gannett Co. Inc. |
| |||||||||||
5.13%, 10/15/19 (Call 10/15/16) | USD | 50 | 52,500 | |||||||||
6.38%, 10/15/23 (Call 10/15/18) | USD | 100 | 108,250 | |||||||||
Gates Global LLC/Gates Global Co. |
| |||||||||||
6.00%, 07/15/22 (Call 07/15/17)a | USD | 75 | 69,937 | |||||||||
General Motors Co. |
| |||||||||||
3.50%, 10/02/18 | USD | 75 | 77,062 | |||||||||
4.00%, 04/01/25 | USD | 50 | 50,345 | |||||||||
General Motors Financial Co. Inc. |
| |||||||||||
2.75%, 05/15/16 | USD | 100 | 101,360 | |||||||||
3.15%, 01/15/20 (Call 12/15/19) | USD | 100 | 100,623 | |||||||||
3.25%, 05/15/18 | USD | 100 | 102,310 | |||||||||
4.00%, 01/15/25 (Call 10/15/24) | USD | 75 | 75,439 | |||||||||
4.25%, 05/15/23b | USD | 105 | 108,831 | |||||||||
4.38%, 09/25/21 | USD | 100 | 105,490 | |||||||||
4.75%, 08/15/17 | USD | 250 | 264,097 | |||||||||
GenOn Energy Inc. |
| |||||||||||
9.50%, 10/15/18 | USD | 100 | 103,750 |
Security | Principal (000s) | Value | ||||||||||
9.88%, 10/15/20 (Call 10/15/15) | USD | 50 | $ | 51,375 | ||||||||
Genworth Holdings Inc. |
| |||||||||||
4.80%, 02/15/24 | USD | 100 | 86,411 | |||||||||
7.63%, 09/24/21 | USD | 150 | 160,044 | |||||||||
GLP Capital LP/GLP Financing II Inc. |
| |||||||||||
4.88%, 11/01/20 (Call 08/01/20) | USD | 25 | 25,625 | |||||||||
5.38%, 11/01/23 (Call 08/01/23) | USD | 100 | 104,000 | |||||||||
Goodyear Tire & Rubber Co. (The) |
| |||||||||||
6.50%, 03/01/21 (Call 03/01/16) | USD | 100 | 106,000 | |||||||||
7.00%, 05/15/22 (Call 05/15/17) | USD | 50 | 54,625 | |||||||||
8.25%, 08/15/20 (Call 08/15/15) | USD | 100 | 105,625 | |||||||||
Halcon Resources Corp. |
| |||||||||||
8.88%, 05/15/21 (Call 11/15/16)b | USD | 125 | 98,125 | |||||||||
9.25%, 02/15/22 (Call 08/15/17) | USD | 50 | 38,500 | |||||||||
9.75%, 07/15/20 (Call 07/15/16)b | USD | 50 | 41,125 | |||||||||
Hanesbrands Inc. |
| |||||||||||
6.38%, 12/15/20 (Call 12/15/15) | USD | 50 | 52,875 | |||||||||
Harland Clarke Holdings Corp. |
| |||||||||||
9.25%, 03/01/21 (Call 03/01/17)a | USD | 50 | 48,690 | |||||||||
HCA Holdings Inc. |
| |||||||||||
6.25%, 02/15/21 | USD | 75 | 82,500 | |||||||||
HCA Inc. |
| |||||||||||
3.75%, 03/15/19b | USD | 150 | 153,937 | |||||||||
4.25%, 10/15/19 | USD | 100 | 104,250 | |||||||||
4.75%, 05/01/23 | USD | 100 | 105,812 | |||||||||
5.00%, 03/15/24 | USD | 150 | 159,375 | |||||||||
5.25%, 04/15/25 | USD | 100 | 108,625 | |||||||||
5.38%, 02/01/25 | USD | 75 | 79,031 | |||||||||
5.88%, 03/15/22 | USD | 100 | 111,750 | |||||||||
5.88%, 05/01/23b | USD | 100 | 108,250 | |||||||||
6.50%, 02/15/20 | USD | 200 | 228,500 | |||||||||
7.50%, 02/15/22 | USD | 150 | 175,125 |
SCHEDULESOF INVESTMENTS | 59 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
HD Supply Inc. |
| |||||||||||
5.25%, 12/15/21 (Call 12/15/17)a | USD | 100 | $ | 104,500 | ||||||||
7.50%, 07/15/20 (Call 10/15/16) | USD | 150 | 160,875 | |||||||||
11.00%, 04/15/20 (Call 04/15/16) | USD | 50 | 56,625 | |||||||||
11.50%, 07/15/20 (Call 10/15/16) | USD | 50 | 58,375 | |||||||||
HealthSouth Corp. |
| |||||||||||
5.75%, 11/01/24 (Call 11/01/17) | USD | 100 | 105,125 | |||||||||
Hercules Offshore Inc. |
| |||||||||||
8.75%, 07/15/21 (Call 07/15/17)a | USD | 50 | 15,908 | |||||||||
Hertz Corp. (The) |
| |||||||||||
5.88%, 10/15/20 (Call 10/15/15) | USD | 100 | 101,500 | |||||||||
6.25%, 10/15/22 (Call 10/15/17)b | USD | 50 | 51,625 | |||||||||
6.75%, 04/15/19 (Call 06/01/15) | USD | 150 | 155,250 | |||||||||
Hexion Inc. |
| |||||||||||
6.63%, 04/15/20 (Call 06/01/15) | USD | 125 | 116,875 | |||||||||
8.88%, 02/01/18 (Call 06/01/15) | USD | 50 | 44,563 | |||||||||
9.00%, 11/15/20 (Call 11/15/15) | USD | 50 | 36,000 | |||||||||
Hilcorp Energy I LP/Hilcorp Finance Co. |
| |||||||||||
5.00%, 12/01/24 (Call 06/01/19)a,b | USD | 50 | 48,500 | |||||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp. |
| |||||||||||
5.63%, 10/15/21 (Call 10/15/16) | USD | 100 | 105,500 | |||||||||
HJ Heinz Co. |
| |||||||||||
4.88%, 02/15/25 (Call 02/15/20)a | USD | 150 | 163,800 | |||||||||
HJ Heinz Finance Co. |
| |||||||||||
4.25%, 10/15/20 (Call 06/01/15) | USD | 250 | 256,125 | |||||||||
Hologic Inc. |
| |||||||||||
6.25%, 08/01/20 (Call 08/01/15) | USD | 50 | 52,031 |
Security | Principal (000s) | Value | ||||||||||
HRG Group Inc. |
| |||||||||||
7.75%, 01/15/22 (Call 01/15/17) | USD | 50 | $ | 50,438 | ||||||||
7.88%, 07/15/19 (Call 01/15/16) | USD | 50 | 53,000 | |||||||||
HUB International Ltd. |
| |||||||||||
7.88%, 10/01/21 (Call 10/01/16)a,b | USD | 75 | 77,062 | |||||||||
Hughes Satellite Systems Corp. |
| |||||||||||
6.50%, 06/15/19 | USD | 100 | 109,750 | |||||||||
7.63%, 06/15/21 | USD | 75 | 83,814 | |||||||||
Huntington Ingalls Industries Inc. |
| |||||||||||
5.00%, 12/15/21 (Call 12/15/17)a | USD | 50 | 51,875 | |||||||||
7.13%, 03/15/21 (Call 03/15/16) | USD | 50 | 53,625 | |||||||||
Huntsman International LLC |
| |||||||||||
5.13%, 04/15/21 | EUR | 100 | 119,058 | |||||||||
5.13%, 11/15/22 (Call 08/15/22)a | USD | 50 | 50,750 | |||||||||
8.63%, 03/15/21 (Call 09/15/15) | USD | 20 | 21,200 | |||||||||
IAC/InterActiveCorp |
| |||||||||||
4.75%, 12/15/22 (Call 12/15/17) | USD | 50 | 50,000 | |||||||||
4.88%, 11/30/18 (Call 06/01/15) | USD | 25 | 25,875 | |||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
| |||||||||||
3.50%, 03/15/17 (Call 02/15/17) | USD | 100 | 100,500 | |||||||||
4.88%, 03/15/19 (Call 07/15/16) | USD | 100 | 102,000 | |||||||||
5.88%, 02/01/22 (Call 08/01/17) | USD | 120 | 124,350 | |||||||||
6.00%, 08/01/20 (Call 02/01/17) | USD | 50 | 52,687 | |||||||||
iHeartCommunications Inc. |
| |||||||||||
9.00%, 12/15/19 (Call 07/15/15)b | USD | 125 | 123,281 | |||||||||
9.00%, 03/01/21 (Call 03/01/16) | USD | 125 | 119,375 | |||||||||
9.00%, 09/15/22 (Call 09/15/17) | USD | 50 | 47,750 |
60 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
10.00%, 01/15/18 (Call 07/15/16)b | USD | 50 | $ | 43,500 | ||||||||
10.63%, 03/15/23 (Call 03/15/18)a | USD | 50 | 50,875 | |||||||||
11.25%, 03/01/21 (Call 03/01/16) | USD | 75 | 76,875 | |||||||||
Infor U.S. Inc. |
| |||||||||||
6.50%, 05/15/22 (Call 05/15/18)a | USD | 115 | 118,019 | |||||||||
International Lease Finance Corp. |
| |||||||||||
3.88%, 04/15/18 | USD | 100 | 102,500 | |||||||||
5.88%, 04/01/19 | USD | 50 | 54,542 | |||||||||
5.88%, 08/15/22 | USD | 100 | 112,750 | |||||||||
6.25%, 05/15/19 | USD | 100 | 110,616 | |||||||||
8.25%, 12/15/20 | USD | 100 | 122,815 | |||||||||
8.75%, 03/15/17b | USD | 150 | 166,460 | |||||||||
inVentiv Health Inc. |
| |||||||||||
9.00%, 01/15/18 (Call 01/15/16)a | USD | 75 | 78,562 | |||||||||
Iron Mountain Inc. |
| |||||||||||
5.75%, 08/15/24 (Call 08/15/17) | USD | 75 | 77,906 | |||||||||
6.00%, 08/15/23 (Call 08/15/18) | USD | 50 | 53,500 | |||||||||
iStar Financial Inc. |
| |||||||||||
4.00%, 11/01/17 (Call 08/01/17) | USD | 100 | 99,000 | |||||||||
Jaguar Holding Co. II/Jaguar Merger Sub Inc. |
| |||||||||||
9.50%, 12/01/19 (Call 06/01/15)a | USD | 50 | 53,750 | |||||||||
JC Penney Corp. Inc. |
| |||||||||||
5.65%, 06/01/20b | USD | 75 | 66,187 | |||||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp. |
| |||||||||||
6.88%, 04/15/22 (Call 04/15/17)a | USD | 200 | 190,563 | |||||||||
KB Home |
| |||||||||||
7.00%, 12/15/21 (Call 09/15/21) | USD | 50 | 52,375 | |||||||||
Kindred Healthcare Inc. |
| |||||||||||
8.00%, 01/15/20a | USD | 50 | 54,188 | |||||||||
Kindred Healthcare Inc. |
| |||||||||||
6.38%, 04/15/22 (Call 04/15/17) | USD | 50 | 51,500 |
Security | Principal (000s) | Value | ||||||||||
8.75%, 01/15/23 (Call 01/15/18)a | USD | 50 | $ | 55,687 | ||||||||
Kinetic Concepts Inc./KCI USA Inc. |
| |||||||||||
10.50%, 11/01/18 (Call 11/01/15) | USD | 150 | 161,625 | |||||||||
12.50%, 11/01/19 (Call 11/01/15) | USD | 50 | 54,625 | |||||||||
KLX Inc. |
| |||||||||||
5.88%, 12/01/22 (Call 12/01/17)a,b | USD | 75 | 75,844 | |||||||||
L Brands Inc. |
| |||||||||||
5.63%, 02/15/22 | USD | 100 | 108,750 | |||||||||
6.90%, 07/15/17 | USD | 100 | 109,500 | |||||||||
7.00%, 05/01/20 | USD | 100 | 114,500 | |||||||||
Lamar Media Corp. |
| |||||||||||
5.00%, 05/01/23 (Call 05/01/18) | USD | 50 | 51,250 | |||||||||
5.38%, 01/15/24 (Call 01/15/19) | USD | 75 | 78,375 | |||||||||
Laredo Petroleum Inc. |
| |||||||||||
5.63%, 01/15/22 (Call 01/15/17) | USD | 25 | 25,063 | |||||||||
Laureate Education Inc. |
| |||||||||||
10.00%, 09/01/19 (Call 09/01/15)a,b | USD | 100 | 97,750 | |||||||||
Lear Corp. |
| |||||||||||
4.75%, 01/15/23 (Call 01/15/18) | USD | 25 | 25,313 | |||||||||
5.25%, 01/15/25 (Call 01/15/20) | USD | 50 | 51,125 | |||||||||
Lennar Corp. |
| |||||||||||
4.50%, 06/15/19 (Call 04/16/19) | USD | 25 | 25,750 | |||||||||
4.50%, 11/15/19 (Call 08/15/19) | USD | 50 | 51,313 | |||||||||
4.75%, 11/15/22 (Call 08/15/22) | USD | 50 | 50,563 | |||||||||
4.75%, 05/30/25 (Call 02/28/25) | USD | 25 | 24,844 | |||||||||
Level 3 Communications Inc. |
| |||||||||||
5.75%, 12/01/22 (Call 12/01/17) | USD | 50 | 50,875 |
SCHEDULESOF INVESTMENTS | 61 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Level 3 Financing Inc. |
| |||||||||||
5.38%, 08/15/22 (Call 08/15/17) | USD | 75 | $ | 76,594 | ||||||||
5.63%, 02/01/23 (Call 02/01/18)a | USD | 50 | 51,125 | |||||||||
6.13%, 01/15/21 (Call 11/15/16) | USD | 50 | 52,938 | |||||||||
8.63%, 07/15/20 (Call 01/15/16) | USD | 100 | 108,750 | |||||||||
Levi Strauss & Co. |
| |||||||||||
6.88%, 05/01/22 (Call 05/01/17) | USD | 50 | 54,562 | |||||||||
LifePoint Hospitals Inc. |
| |||||||||||
5.50%, 12/01/21 (Call 12/01/16) | USD | 75 | 78,656 | |||||||||
6.63%, 10/01/20 (Call 10/01/15) | USD | 50 | 52,375 | |||||||||
Linn Energy LLC/Linn Energy Finance Corp. |
| |||||||||||
6.25%, 11/01/19 (Call 11/01/15) | USD | 125 | 105,312 | |||||||||
6.50%, 05/15/19 (Call 06/01/15) | USD | 100 | 87,000 | |||||||||
6.50%, 09/15/21 (Call 09/15/17)b | USD | 50 | 40,500 | |||||||||
7.75%, 02/01/21 (Call 09/15/15) | USD | 50 | 42,650 | |||||||||
8.63%, 04/15/20 (Call 06/01/15) | USD | 100 | 90,750 | |||||||||
MarkWest Energy Partners LP/MarkWest Energy Finance Corp. |
| |||||||||||
4.50%, 07/15/23 (Call 04/15/23) | USD | 100 | 100,750 | |||||||||
4.88%, 12/01/24 (Call 09/01/24) | USD | 50 | 51,938 | |||||||||
6.75%, 11/01/20 (Call 11/01/15)b | USD | 150 | 157,500 | |||||||||
Masco Corp. |
| |||||||||||
6.13%, 10/03/16 | USD | 150 | 158,250 | |||||||||
McClatchy Co. (The) |
| |||||||||||
9.00%, 12/15/22 (Call 12/15/17)b | USD | 50 | 48,563 |
Security | Principal (000s) | Value | ||||||||||
McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance |
| |||||||||||
9.75%, 04/01/21 (Call 04/01/16) | USD | 50 | $ | 55,625 | ||||||||
Memorial Production Partners LP/Memorial Production Finance Corp. |
| |||||||||||
6.88%, 08/01/22 (Call 08/01/17)a | USD | 75 | 70,312 | |||||||||
MGM Resorts International |
| |||||||||||
5.25%, 03/31/20b | USD | 25 | 25,625 | |||||||||
6.00%, 03/15/23b | USD | 100 | 103,125 | |||||||||
6.63%, 12/15/21 | USD | 175 | 187,031 | |||||||||
6.75%, 10/01/20 | USD | 100 | 107,250 | |||||||||
7.50%, 06/01/16 | USD | 100 | 104,750 | |||||||||
7.63%, 01/15/17 | USD | 100 | 107,500 | |||||||||
Michaels Stores Inc. |
| |||||||||||
5.88%, 12/15/20 (Call 12/15/16)a,b | USD | 50 | 51,750 | |||||||||
Micron Technology Inc. |
| |||||||||||
5.25%, 08/01/23 (Call 02/01/18)a | USD | 50 | 50,125 | |||||||||
5.50%, 02/01/25 (Call 08/01/19)a | USD | 90 | 90,225 | |||||||||
5.88%, 02/15/22 (Call 02/15/17) | USD | 50 | 52,500 | |||||||||
Midstates Petroleum Co. Inc./Midstates Petroleum Co. LLC |
| |||||||||||
9.25%, 06/01/21 (Call 06/01/16)b | USD | 50 | 26,500 | |||||||||
10.75%, 10/01/20 (Call 10/01/16) | USD | 50 | 27,750 | |||||||||
MPH Acquisition Holdings LLC |
| |||||||||||
6.63%, 04/01/22 (Call 04/01/17)a | USD | 100 | 105,500 | |||||||||
Murray Energy Corp. |
| |||||||||||
11.25%, 04/15/21 (Call 04/15/18)a,b | USD | 100 | 101,750 | |||||||||
Nationstar Mortgage LLC/Nationstar Capital Corp. |
| |||||||||||
6.50%, 07/01/21 (Call 01/01/17) | USD | 100 | 97,500 |
62 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Navient Corp. |
| |||||||||||
5.50%, 01/15/19 | USD | 100 | $ | 101,500 | ||||||||
5.50%, 01/25/23b | USD | 100 | 96,250 | |||||||||
5.88%, 03/25/21 | USD | 25 | 24,875 | |||||||||
5.88%, 10/25/24b | USD | 25 | 23,625 | |||||||||
6.00%, 01/25/17 | USD | 100 | 104,750 | |||||||||
6.13%, 03/25/24 | USD | 50 | 48,563 | |||||||||
7.25%, 01/25/22 | USD | 75 | 79,875 | |||||||||
8.00%, 03/25/20 | USD | 150 | 167,250 | |||||||||
8.45%, 06/15/18 | USD | 200 | 223,250 | |||||||||
Navistar International Corp. |
| |||||||||||
8.25%, 11/01/21 (Call 06/01/15)b | USD | 100 | 99,250 | |||||||||
NBTY Inc. |
| |||||||||||
9.00%, 10/01/18 (Call 06/01/15) | USD | 50 | 52,063 | |||||||||
NCR Corp. |
| |||||||||||
4.63%, 02/15/21 (Call 02/15/17) | USD | 50 | 49,500 | |||||||||
5.00%, 07/15/22 (Call 07/15/17) | USD | 50 | 49,625 | |||||||||
6.38%, 12/15/23 (Call 12/15/18) | USD | 75 | 78,937 | |||||||||
Neiman Marcus Group Ltd. LLC |
| |||||||||||
8.00%, 10/15/21 (Call 10/15/16)a | USD | 100 | 107,500 | |||||||||
Netflix Inc. |
| |||||||||||
5.50%, 02/15/22a | USD | 150 | 157,875 | |||||||||
5.88%, 02/15/25a | USD | 50 | 53,125 | |||||||||
Newfield Exploration Co. |
| |||||||||||
5.38%, 01/01/26 (Call 10/01/25) | USD | 50 | 51,750 | |||||||||
5.63%, 07/01/24 | USD | 75 | 79,687 | |||||||||
5.75%, 01/30/22 | USD | 50 | 53,000 | |||||||||
NGL Energy Partners LP/NGL Energy Finance Corp. |
| |||||||||||
5.13%, 07/15/19 (Call 06/15/19) | USD | 100 | 98,750 | |||||||||
NGPL PipeCo LLC |
| |||||||||||
7.12%, 12/15/17a,b | USD | 100 | 101,750 | |||||||||
9.63%, 06/01/19 (Call 06/01/15)a,b | USD | 50 | 51,500 |
Security | Principal (000s) | Value | ||||||||||
Nielsen Finance LLC/Nielsen Finance Co. |
| |||||||||||
4.50%, 10/01/20 (Call 10/01/16)b | USD | 50 | $ | 50,875 | ||||||||
5.00%, 04/15/22 (Call 04/15/17)a | USD | 175 | 175,875 | |||||||||
NRG Energy Inc. |
| |||||||||||
6.25%, 07/15/22 (Call 07/15/18) | USD | 100 | 104,500 | |||||||||
6.25%, 05/01/24 (Call 05/01/19) | USD | 75 | 76,875 | |||||||||
6.63%, 03/15/23 (Call 09/15/17) | USD | 50 | 52,625 | |||||||||
7.63%, 01/15/18 | USD | 100 | 111,000 | |||||||||
7.88%, 05/15/21 (Call 05/15/16) | USD | 100 | 107,271 | |||||||||
8.25%, 09/01/20 (Call 09/01/15) | USD | 50 | 52,750 | |||||||||
Nuance Communications Inc. |
| |||||||||||
5.38%, 08/15/20 (Call 08/15/16)a,b | USD | 100 | 100,750 | |||||||||
NuStar Logistics LP |
| |||||||||||
4.80%, 09/01/20 | USD | 50 | 49,375 | |||||||||
Oasis Petroleum Inc. |
| |||||||||||
6.88%, 03/15/22 (Call 09/15/17)b | USD | 125 | 127,344 | |||||||||
7.25%, 02/01/19 (Call 06/01/15)b | USD | 50 | 51,250 | |||||||||
OneMain Financial Holdings Inc. |
| |||||||||||
6.75%, 12/15/19 (Call 12/15/16)a | USD | 100 | 105,750 | |||||||||
ONEOK Inc. |
| |||||||||||
4.25%, 02/01/22 (Call 11/02/21) | USD | 50 | 47,732 | |||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp. |
| |||||||||||
5.25%, 02/15/22 (Call 02/15/17) | USD | 25 | 26,250 | |||||||||
5.88%, 03/15/25 (Call 09/15/19)b | USD | 100 | 106,750 | |||||||||
Owens-Brockway Glass Container Inc. |
| |||||||||||
5.00%, 01/15/22a | USD | 50 | 51,375 |
SCHEDULESOF INVESTMENTS | 63 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Party City Holdings Inc. |
| |||||||||||
8.88%, 08/01/20 (Call 08/01/15)b | USD | 50 | $ | 54,063 | ||||||||
Peabody Energy Corp. |
| |||||||||||
6.00%, 11/15/18 | USD | 125 | 97,500 | |||||||||
6.25%, 11/15/21 | USD | 100 | 59,500 | |||||||||
6.50%, 09/15/20 | USD | 50 | 31,375 | |||||||||
10.00%, 03/15/22 (Call 03/15/18)a,b | USD | 35 | 29,750 | |||||||||
Penn Virginia Corp. |
| |||||||||||
8.50%, 05/01/20 (Call 05/01/17)b | USD | 50 | 48,500 | |||||||||
Penn Virginia Resource Partners LP/Penn Virginia Resource Finance Corp. |
| |||||||||||
8.38%, 06/01/20 (Call 06/01/16) | USD | 49 | 53,716 | |||||||||
Petco Animal Supplies Inc. |
| |||||||||||
9.25%, 12/01/18 (Call 06/01/15)a | USD | 50 | 52,500 | |||||||||
Pinnacle Entertainment Inc. |
| |||||||||||
6.38%, 08/01/21 (Call 08/01/16) | USD | 65 | 69,062 | |||||||||
7.50%, 04/15/21 (Call 06/01/15) | USD | 100 | 106,000 | |||||||||
Platform Specialty Products Corp. |
| |||||||||||
6.50%, 02/01/22 (Call 02/01/18)a | USD | 100 | 104,500 | |||||||||
Post Holdings Inc. |
| |||||||||||
6.00%, 12/15/22 (Call 06/15/18)a,b | USD | 50 | 48,750 | |||||||||
6.75%, 12/01/21 (Call 12/01/17)a | USD | 50 | 50,700 | |||||||||
7.38%, 02/15/22 (Call 02/15/17) | USD | 125 | 129,687 | |||||||||
PPL Energy Supply LLC |
| |||||||||||
4.60%, 12/15/21 (Call 09/15/21) | USD | 100 | 93,796 | |||||||||
QEP Resources Inc. |
| |||||||||||
5.38%, 10/01/22 (Call 07/01/22) | USD | 100 | 101,000 | |||||||||
6.88%, 03/01/21 | USD | 50 | 53,500 |
Security | Principal (000s) | Value | ||||||||||
QVC Inc. |
| |||||||||||
3.13%, 04/01/19 | USD | 50 | $ | 50,116 | ||||||||
4.38%, 03/15/23 | USD | 50 | 50,090 | |||||||||
4.85%, 04/01/24 | USD | 75 | 77,237 | |||||||||
5.13%, 07/02/22 | USD | 50 | 52,539 | |||||||||
Range Resources Corp. |
| |||||||||||
5.00%, 08/15/22 (Call 02/15/17) | USD | 100 | 101,769 | |||||||||
5.75%, 06/01/21 (Call 06/01/16) | USD | 100 | 104,131 | |||||||||
Realogy Group LLC/Realogy Co-Issuer Corp. |
| |||||||||||
4.50%, 04/15/19a | USD | 50 | 50,625 | |||||||||
Regal Entertainment Group |
| |||||||||||
5.75%, 03/15/22 (Call 03/15/17) | USD | 50 | 51,375 | |||||||||
Regency Energy Partners LP/Regency Energy Finance Corp. |
| |||||||||||
5.00%, 10/01/22 (Call 07/01/22) | USD | 25 | 26,875 | |||||||||
5.50%, 04/15/23 (Call 10/15/17) | USD | 50 | 53,250 | |||||||||
5.88%, 03/01/22 (Call 12/01/21) | USD | 100 | 111,750 | |||||||||
6.50%, 07/15/21 (Call 07/15/16) | USD | 100 | 106,250 | |||||||||
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC |
| |||||||||||
5.75%, 10/15/20 (Call 10/15/15)b | USD | 250 | 261,250 | |||||||||
6.88%, 02/15/21 (Call 02/15/16) | USD | 100 | 105,562 | |||||||||
7.88%, 08/15/19 (Call 08/15/15) | USD | 100 | 105,250 | |||||||||
8.25%, 02/15/21 (Call 02/15/16) | USD | 100 | 106,011 | |||||||||
9.88%, 08/15/19 (Call 08/15/15) | USD | 150 | 160,312 | |||||||||
Rite Aid Corp. |
| |||||||||||
6.13%, 04/01/23 (Call 04/01/18)a | USD | 100 | 103,875 | |||||||||
6.75%, 06/15/21 (Call 06/15/16) | USD | 100 | 106,250 |
64 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
9.25%, 03/15/20 (Call 03/15/16) | USD | 50 | $ | 55,312 | ||||||||
RJS Power Holdings LLC |
| |||||||||||
5.13%, 07/15/19 (Call 07/15/16)a,b | USD | 75 | 74,142 | |||||||||
Rockies Express Pipeline LLC |
| |||||||||||
5.63%, 04/15/20a | USD | 75 | 79,125 | |||||||||
6.85%, 07/15/18a | USD | 50 | 54,125 | |||||||||
Rosetta Resources Inc. |
| |||||||||||
5.63%, 05/01/21 (Call 05/01/17) | USD | 50 | 50,188 | |||||||||
5.88%, 06/01/22 (Call 12/01/17) | USD | 50 | 50,063 | |||||||||
5.88%, 06/01/24 (Call 06/01/19) | USD | 50 | 49,875 | |||||||||
RR Donnelley & Sons Co. |
| |||||||||||
6.00%, 04/01/24 | USD | 50 | 51,875 | |||||||||
7.88%, 03/15/21b | USD | 50 | 57,500 | |||||||||
Sabine Pass Liquefaction LLC |
| |||||||||||
5.63%, 02/01/21 (Call 11/01/20) | USD | 200 | 205,500 | |||||||||
5.63%, 04/15/23 (Call 01/15/23) | USD | 100 | 101,500 | |||||||||
5.63%, 03/01/25 (Call 12/01/24)a | USD | 100 | 101,375 | |||||||||
5.75%, 05/15/24 (Call 02/15/24) | USD | 200 | 202,000 | |||||||||
6.25%, 03/15/22 (Call 12/15/21) | USD | 100 | 105,250 | |||||||||
Sabine Pass LNG LP |
| |||||||||||
7.50%, 11/30/16 | USD | 100 | 106,838 | |||||||||
Sally Holdings LLC/Sally Capital Inc. |
| |||||||||||
6.88%, 11/15/19 (Call 11/15/15) | USD | 100 | 105,625 | |||||||||
Samson Investment Co. |
| |||||||||||
9.75%, 02/15/20 (Call 02/15/16) | USD | 175 | 21,656 | |||||||||
Sanchez Energy Corp. |
| |||||||||||
6.13%, 01/15/23 (Call 07/15/18)b | USD | 150 | 146,807 | |||||||||
SandRidge Energy Inc. |
| |||||||||||
7.50%, 03/15/21 (Call 03/15/16) | USD | 100 | 68,750 |
Security | Principal (000s) | Value | ||||||||||
7.50%, 02/15/23 (Call 08/15/17) | USD | 50 | $ | 33,000 | ||||||||
8.13%, 10/15/22 (Call 04/15/17) | USD | 75 | 51,281 | |||||||||
SBA Communications Corp. |
| |||||||||||
4.88%, 07/15/22 (Call 07/15/17)a,b | USD | 75 | 73,875 | |||||||||
5.63%, 10/01/19 (Call 10/01/16) | USD | 50 | 52,438 | |||||||||
SBA Telecommunications Inc. |
| |||||||||||
5.75%, 07/15/20 (Call 07/15/16) | USD | 50 | 52,250 | |||||||||
Scientific Games International Inc. |
| |||||||||||
7.00%, 01/01/22 (Call 01/01/18)a,b | USD | 75 | 78,187 | |||||||||
10.00%, 12/01/22 (Call 12/01/18)a | USD | 175 | 162,750 | |||||||||
Sealed Air Corp. |
| |||||||||||
4.88%, 12/01/22 (Call 09/01/22)a | USD | 50 | 51,500 | |||||||||
5.13%, 12/01/24 (Call 09/01/24)a | USD | 75 | 77,812 | |||||||||
8.38%, 09/15/21 (Call 09/15/16)a,b | USD | 50 | 56,375 | |||||||||
Sears Holdings Corp. |
| |||||||||||
6.63%, 10/15/18b | USD | 100 | 96,000 | |||||||||
Service Corp. International/U.S. |
| |||||||||||
5.38%, 05/15/24 (Call 05/15/19) | USD | 50 | 53,125 | |||||||||
ServiceMaster Co. LLC (The) |
| |||||||||||
7.00%, 08/15/20 (Call 08/15/15) | USD | 50 | 53,125 | |||||||||
Seventy Seven Energy Inc. |
| |||||||||||
6.50%, 07/15/22 (Call 07/15/17) | USD | 50 | 28,177 | |||||||||
Seventy Seven Operating LLC |
| |||||||||||
6.63%, 11/15/19 (Call 11/15/15) | USD | 50 | 40,000 | |||||||||
Sinclair Television Group Inc. |
| |||||||||||
5.63%, 08/01/24 (Call 08/01/19)a | USD | 50 | 50,875 | |||||||||
6.13%, 10/01/22 (Call 10/01/17) | USD | 50 | 52,688 |
SCHEDULESOF INVESTMENTS | 65 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Sirius XM Radio Inc. |
| |||||||||||
4.63%, 05/15/23 (Call 05/15/18)a | USD | 50 | $ | 48,188 | ||||||||
5.75%, 08/01/21 (Call 08/01/16)a,b | USD | 100 | 103,500 | |||||||||
6.00%, 07/15/24 (Call 07/15/19)a | USD | 125 | 130,156 | |||||||||
SM Energy Co. |
| |||||||||||
5.00%, 01/15/24 (Call 07/15/18) | USD | 100 | 98,000 | |||||||||
6.13%, 11/15/22 (Call 11/15/18)a | USD | 25 | 26,363 | |||||||||
Smithfield Foods Inc. |
| |||||||||||
5.25%, 08/01/18 (Call 08/01/15)a | USD | 25 | 25,563 | |||||||||
6.63%, 08/15/22 (Call 08/15/17) | USD | 100 | 108,000 | |||||||||
Spectrum Brands Inc. |
| |||||||||||
6.38%, 11/15/20 (Call 11/15/16) | USD | 100 | 106,000 | |||||||||
Springleaf Finance Corp. |
| |||||||||||
5.25%, 12/15/19 | USD | 50 | 50,375 | |||||||||
6.90%, 12/15/17 | USD | 150 | 160,650 | |||||||||
7.75%, 10/01/21 | USD | 50 | 55,125 | |||||||||
Sprint Communications Inc. |
| |||||||||||
6.00%, 12/01/16 | USD | 150 | 156,000 | |||||||||
6.00%, 11/15/22 | USD | 150 | 141,000 | |||||||||
7.00%, 03/01/20a | USD | 100 | 110,669 | |||||||||
7.00%, 08/15/20b | USD | 150 | 152,457 | |||||||||
8.38%, 08/15/17b | USD | 100 | 109,125 | |||||||||
9.00%, 11/15/18a | USD | 250 | 285,000 | |||||||||
9.13%, 03/01/17 | USD | 100 | 109,375 | |||||||||
11.50%, 11/15/21 | USD | 100 | 121,250 | |||||||||
Sprint Corp. |
| |||||||||||
7.13%, 06/15/24 | USD | 200 | 191,750 | |||||||||
7.25%, 09/15/21 | USD | 150 | 150,187 | |||||||||
7.63%, 02/15/25 (Call 11/15/24) | USD | 50 | 49,063 | |||||||||
7.88%, 09/15/23 | USD | 300 | 300,375 | |||||||||
Standard Pacific Corp. |
| |||||||||||
8.38%, 05/15/18 | USD | 100 | 114,875 | |||||||||
Steel Dynamics Inc. |
| |||||||||||
5.13%, 10/01/21 (Call 10/01/17)a | USD | 50 | 51,125 |
Security | Principal (000s) | Value | ||||||||||
5.25%, 04/15/23 (Call 04/15/18) | USD | 75 | $ | 77,062 | ||||||||
5.50%, 10/01/24 (Call 10/01/19)a | USD | 25 | 25,875 | |||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp. |
| |||||||||||
5.50%, 06/01/24 (Call 06/01/19) | USD | 25 | 25,875 | |||||||||
SunGard Data Systems Inc. |
| |||||||||||
6.63%, 11/01/19 (Call 11/01/15) | USD | 50 | 52,125 | |||||||||
7.38%, 11/15/18 (Call 06/01/15) | USD | 100 | 104,000 | |||||||||
7.63%, 11/15/20 (Call 11/15/15) | USD | 50 | 52,938 | |||||||||
SUPERVALU Inc. |
| |||||||||||
6.75%, 06/01/21 (Call 06/01/17) | USD | 50 | 51,500 | |||||||||
T-Mobile USA Inc. |
| |||||||||||
6.00%, 03/01/23 (Call 09/01/18) | USD | 100 | 101,875 | |||||||||
6.13%, 01/15/22 (Call 01/15/18) | USD | 100 | 103,000 | |||||||||
6.25%, 04/01/21 (Call 04/01/17) | USD | 100 | 104,575 | |||||||||
6.38%, 03/01/25 (Call 09/01/19) | USD | 150 | 153,937 | |||||||||
6.46%, 04/28/19 (Call 05/11/15) | USD | 150 | 155,062 | |||||||||
6.50%, 01/15/24 (Call 01/15/19) | USD | 50 | 52,125 | |||||||||
6.54%, 04/28/20 (Call 04/28/16) | USD | 100 | 105,750 | |||||||||
6.63%, 11/15/20 (Call 11/15/15) | USD | 50 | 52,313 | |||||||||
6.63%, 04/28/21 (Call 04/28/17) | USD | 100 | 105,375 | |||||||||
6.63%, 04/01/23 (Call 04/01/18) | USD | 150 | 156,656 | |||||||||
6.73%, 04/28/22 (Call 04/28/17) | USD | 100 | 105,000 | |||||||||
6.84%, 04/28/23 (Call 04/28/18)b | USD | 50 | 52,750 |
66 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. |
| |||||||||||
4.13%, 11/15/19 (Call 11/15/16)a | USD | 100 | $ | 100,375 | ||||||||
4.25%, 11/15/23 (Call 05/15/18) | USD | 50 | 49,000 | |||||||||
5.00%, 01/15/18 (Call 10/15/17)a | USD | 50 | 51,625 | |||||||||
6.88%, 02/01/21 (Call 02/01/16) | USD | 100 | 105,500 | |||||||||
Taylor Morrison Communities Inc./Monarch Communities Inc. |
| |||||||||||
5.25%, 04/15/21 (Call 04/15/16)a | USD | 50 | 50,250 | |||||||||
Tenet Healthcare Corp. |
| |||||||||||
4.50%, 04/01/21 | USD | 100 | 99,375 | |||||||||
5.00%, 03/01/19a | USD | 75 | 74,625 | |||||||||
5.50%, 03/01/19a | USD | 25 | 25,406 | |||||||||
6.00%, 10/01/20 | USD | 150 | 159,937 | |||||||||
6.25%, 11/01/18 | USD | 100 | 108,551 | |||||||||
8.00%, 08/01/20 (Call 08/01/15) | USD | 50 | 52,375 | |||||||||
8.13%, 04/01/22b | USD | 250 | 272,812 | |||||||||
Terex Corp. |
| |||||||||||
6.00%, 05/15/21 (Call 11/15/16) | USD | 75 | 76,489 | |||||||||
Tesoro Corp. |
| |||||||||||
5.38%, 10/01/22 (Call 10/01/17) | USD | 50 | 52,516 | |||||||||
Tesoro Logistics LP/Tesoro Logistics Finance Corp. |
| |||||||||||
5.88%, 10/01/20 (Call 10/01/16) | USD | 50 | 52,375 | |||||||||
6.13%, 10/15/21 (Call 10/15/16) | USD | 50 | 52,625 | |||||||||
6.25%, 10/15/22 (Call 10/15/18)a | USD | 100 | 106,125 | |||||||||
Toll Brothers Finance Corp. |
| |||||||||||
5.88%, 02/15/22 (Call 11/15/21) | USD | 100 | 110,250 | |||||||||
Toys R Us Inc. |
| |||||||||||
10.38%, 08/15/17 (Call 06/01/15)b | USD | 25 | 22,000 | |||||||||
Toys R Us Property Co. II LLC |
| |||||||||||
8.50%, 12/01/17 (Call 06/01/15) | USD | 50 | 50,875 |
Security | Principal (000s) | Value | ||||||||||
TransDigm Inc. |
| |||||||||||
6.00%, 07/15/22 (Call 07/15/17) | USD | 50 | $ | 50,500 | ||||||||
6.50%, 07/15/24 (Call 07/15/19) | USD | 125 | 127,187 | |||||||||
7.50%, 07/15/21 (Call 07/15/16) | USD | 100 | 107,750 | |||||||||
Tronox Finance LLC |
| |||||||||||
6.38%, 08/15/20 (Call 08/15/15) | USD | 50 | 48,875 | |||||||||
U.S. Airways Group Inc. |
| |||||||||||
6.13%, 06/01/18 | USD | 50 | 52,500 | |||||||||
U.S. Steel Corp. |
| |||||||||||
7.00%, 02/01/18 | USD | 50 | 53,125 | |||||||||
7.38%, 04/01/20 | USD | 50 | 52,250 | |||||||||
7.50%, 03/15/22 (Call 03/15/17)b | USD | 50 | 51,375 | |||||||||
United Rentals North America Inc. |
| |||||||||||
5.75%, 11/15/24 (Call 05/15/19) | USD | 75 | 77,156 | |||||||||
6.13%, 06/15/23 (Call 12/15/17) | USD | 75 | 78,937 | |||||||||
7.38%, 05/15/20 (Call 05/15/16) | USD | 150 | 161,812 | |||||||||
7.63%, 04/15/22 (Call 04/15/17) | USD | 100 | 110,375 | |||||||||
Univision Communications Inc. |
| |||||||||||
5.13%, 05/15/23 (Call 05/15/18)a | USD | 150 | 151,875 | |||||||||
5.13%, 02/15/25 (Call 02/15/20)a | USD | 25 | 25,188 | |||||||||
6.75%, 09/15/22 (Call 09/15/17)a | USD | 90 | 96,862 | |||||||||
8.50%, 05/15/21 (Call 11/15/15)a | USD | 50 | 53,563 | |||||||||
USG Corp. |
| |||||||||||
6.30%, 11/15/16 | USD | 100 | 105,125 | |||||||||
Valeant Pharmaceuticals International Inc. |
| |||||||||||
6.38%, 10/15/20 (Call 10/15/16)a | USD | 200 | 211,250 | |||||||||
6.75%, 08/15/21 (Call 02/15/16)a | USD | 100 | 104,500 | |||||||||
7.00%, 10/01/20 (Call 10/01/15)a | USD | 50 | 52,563 | |||||||||
7.25%, 07/15/22 (Call 07/15/16)a | USD | 50 | 53,250 |
SCHEDULESOF INVESTMENTS | 67 |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Security | Principal (000s) | Value | ||||||||||
VeriSign Inc. |
| |||||||||||
5.25%, 04/01/25 (Call 01/01/25)a | USD | 50 | $ | 51,625 | ||||||||
Verso Paper Holdings LLC/Verso Paper Inc. |
| |||||||||||
11.75%, 01/15/19 (Call 06/01/15) | USD | 30 | 26,214 | |||||||||
Voya Financial Inc. |
| |||||||||||
5.65%, 05/15/53 (Call 05/15/23)d | USD | 50 | 52,150 | |||||||||
Vulcan Materials Co. |
| |||||||||||
4.50%, 04/01/25 (Call 01/01/25) | USD | 100 | 101,500 | |||||||||
7.50%, 06/15/21 | USD | 50 | 59,518 | |||||||||
West Corp. |
| |||||||||||
5.38%, 07/15/22 (Call 07/15/17)a,b | USD | 100 | 97,000 | |||||||||
Whiting Petroleum Corp. |
| |||||||||||
5.00%, 03/15/19 (Call 12/15/18) | USD | 100 | 99,750 | |||||||||
5.75%, 03/15/21 (Call 12/15/20) | USD | 100 | 102,010 | |||||||||
6.25%, 04/01/23 (Call 01/01/23)a | USD | 50 | 51,845 | |||||||||
WideOpenWest Finance LLC/WideOpenWest Capital Corp. |
| |||||||||||
10.25%, 07/15/19 (Call 07/15/15) | USD | 75 | 80,625 | |||||||||
Windstream Corp. |
| |||||||||||
7.50%, 06/01/22 (Call 06/01/17)b | USD | 50 | 47,750 | |||||||||
7.50%, 04/01/23 (Call 04/01/16) | USD | 100 | 95,250 | |||||||||
7.75%, 10/15/20 (Call 10/15/15)b | USD | 50 | 51,438 | |||||||||
7.75%, 10/01/21 (Call 10/01/16) | USD | 50 | 49,375 | |||||||||
7.88%, 11/01/17 | USD | 100 | 107,750 | |||||||||
WMG Acquisition Corp. |
| |||||||||||
6.75%, 04/15/22 (Call 04/15/17)a | USD | 75 | 71,062 | |||||||||
WPX Energy Inc. |
| |||||||||||
5.25%, 09/15/24 (Call 06/15/24) | USD | 25 | 23,188 |
Security | Principal or Shares | Value | ||||||||||
6.00%, 01/15/22 (Call 10/15/21) | USD | 100 | $ | 98,750 | ||||||||
WR Grace & Co.-Conn |
| |||||||||||
5.13%, 10/01/21a | USD | 50 | 52,188 | |||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. |
| |||||||||||
4.25%, 05/30/23 (Call 02/28/23)a,b | USD | 50 | 47,000 | |||||||||
5.50%, 03/01/25a | USD | 150 | 150,750 | |||||||||
Zayo Group LLC/Zayo Capital Inc. | ||||||||||||
6.00%, 04/01/23 (Call 04/01/18)a | USD | 95 | 95,599 | |||||||||
Zebra Technologies Corp. | ||||||||||||
7.25%, 10/15/22 (Call 10/15/17)a | USD | 100 | 107,750 | |||||||||
ZF North America Capital Inc. | ||||||||||||
2.75%, 04/27/23 c | EUR | 200 | 221,869 | |||||||||
|
| |||||||||||
54,000,223 | ||||||||||||
|
| |||||||||||
TOTAL CORPORATE BONDS & NOTES |
| |||||||||||
(Cost: $89,749,729) |
| 87,155,837 | ||||||||||
SHORT-TERM INVESTMENTS — 14.17% |
| |||||||||||
MONEY MARKET FUNDS — 14.17% |
| |||||||||||
BlackRock Cash Funds: Institutional, |
| |||||||||||
0.17%g,h,i | 10,580 | 10,580,275 | ||||||||||
BlackRock Cash Funds: Prime, | ||||||||||||
0.17%g,h,i | 1,518 | 1,518,475 | ||||||||||
BlackRock Cash Funds: Treasury, | ||||||||||||
0.00%g,h | 729 | 728,951 | ||||||||||
|
| |||||||||||
12,827,701 | ||||||||||||
|
| |||||||||||
TOTAL SHORT-TERM INVESTMENTS |
| |||||||||||
(Cost: $12,827,701) |
| 12,827,701 | ||||||||||
|
|
68 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Schedule of Investments (Unaudited) (Continued)
iSHARES® GLOBAL HIGH YIELD CORPORATE BOND ETF
April 30, 2015
Value | ||||||||
TOTAL INVESTMENTS | ||||||||
(Cost: $102,577,430) | $ | 99,983,538 | ||||||
Other Assets, Less Liabilities — (10.47)% | (9,476,250 | ) | ||||||
|
| |||||||
NET ASSETS — 100.00% | $ | 90,507,288 | ||||||
|
|
CAD | — Canadian Dollar | |
EUR | — Euro | |
GBP | — British Pound | |
USD | — United States Dollar |
a | This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933. |
b | All or a portion of this security represents a security on loan. See Note 1. |
c | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
d | Variable rate security. Rate shown is as of report date. |
e | Issuer is in default of interest payments. |
f | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
g | Affiliated issuer. See Note 2. |
h | The rate quoted is the annualized seven-day yield of the fund at period end. |
i | All or a portion of this security represents an investment of securities lending collateral. See Note 1. |
See notes to financial statements.
SCHEDULESOF INVESTMENTS | 69 |
Table of Contents
Statements of Assets and Liabilities (Unaudited)
iSHARES®, INC.
April 30, 2015
iShares Corporate Bond ETF | iShares High Yield Bond ETF | iShares Local Currency Bond ETF | ||||||||||
ASSETS | ||||||||||||
Investments, at cost: | ||||||||||||
Unaffiliated | $ | 29,566,211 | $ | 166,343,730 | $ | 659,264,056 | ||||||
Affiliated (Note 2) | 1,541,916 | 471,724 | 57,188 | |||||||||
|
|
|
|
|
| |||||||
Total cost of investments | $ | 31,108,127 | $ | 166,815,454 | $ | 659,321,244 | ||||||
|
|
|
|
|
| |||||||
Investments in securities, at fair value (including securities on loana) (Note 1): | ||||||||||||
Unaffiliated | $ | 29,347,696 | $ | 159,125,439 | $ | 606,824,253 | ||||||
Affiliated (Note 2) | 1,541,916 | 471,724 | 57,188 | |||||||||
|
|
|
|
|
| |||||||
Total fair value of investments | 30,889,612 | 159,597,163 | 606,881,441 | |||||||||
Foreign currency, at valueb | — | — | 21,638,445 | |||||||||
Cash | 17,463 | 83,825 | — | |||||||||
Receivables: | ||||||||||||
Investment securities sold | 117,435 | 5,837,643 | 8,897,082 | |||||||||
Due from custodian (Note 4) | — | — | 970,096 | |||||||||
Interest | 394,026 | 2,471,989 | 9,879,227 | |||||||||
|
|
|
|
|
| |||||||
Total Assets | 31,418,536 | 167,990,620 | 648,266,291 | |||||||||
|
|
|
|
|
| |||||||
LIABILITIES | ||||||||||||
Payables: | ||||||||||||
Investment securities purchased | 99,065 | 5,535,937 | 14,164,280 | |||||||||
Collateral for securities on loan (Note 1) | 1,092,270 | — | — | |||||||||
Deferred foreign capital gains taxes (Note 1) | 246 | 4,151 | 221,988 | |||||||||
Investment advisory fees (Note 2) | 12,354 | 70,182 | 248,482 | |||||||||
|
|
|
|
|
| |||||||
Total Liabilities | 1,203,935 | 5,610,270 | 14,634,750 | |||||||||
|
|
|
|
|
| |||||||
NET ASSETS | $ | 30,214,601 | $ | 162,380,350 | $ | 633,631,541 | ||||||
|
|
|
|
|
| |||||||
Net assets consist of: | ||||||||||||
Paid-in capital | $ | 30,939,241 | $ | 183,999,339 | $ | 720,682,038 | ||||||
Undistributed net investment income | 101,539 | 702,588 | 6,149,833 | |||||||||
Accumulated net realized loss | (607,418 | ) | (15,099,135 | ) | (40,956,928 | ) | ||||||
Net unrealized depreciation | (218,761 | ) | (7,222,442 | ) | (52,243,402 | ) | ||||||
|
|
|
|
|
| |||||||
NET ASSETS | $ | 30,214,601 | $ | 162,380,350 | $ | 633,631,541 | ||||||
|
|
|
|
|
| |||||||
Shares outstandingc | 600,000 | 3,300,000 | 14,000,000 | |||||||||
|
|
|
|
|
| |||||||
Net asset value per share | $ | 50.36 | $ | 49.21 | $ | 45.26 | ||||||
|
|
|
|
|
|
a | Securities on loan with values of $1,069,033, $ — and $ —, respectively. See Note 1. |
b | Cost of foreign currency: $ —, $ — and $21,130,396, respectively. |
c | $0.001 par value, number of shares authorized: 500 million, 500 million and 500 million, respectively. |
See notes to financial statements.
70 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Statements of Assets and Liabilities (Unaudited) (Continued)
iSHARES®, INC.
April 30, 2015
iShares Global ex USD High Yield Corporate Bond ETF | iShares Global High Yield Corporate Bond ETF | |||||||
ASSETS | ||||||||
Investments, at cost: | ||||||||
Unaffiliated | $ | 265,152,335 | $ | 89,749,729 | ||||
Affiliated (Note 2) | 122,747 | 12,827,701 | ||||||
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Total cost of investments | $ | 265,275,082 | $ | 102,577,430 | ||||
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Investments in securities, at fair value (including securities on loana) (Note 1): | ||||||||
Unaffiliated | $ | 244,325,265 | $ | 87,155,837 | ||||
Affiliated (Note 2) | 122,747 | 12,827,701 | ||||||
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Total fair value of investments | 244,448,012 | 99,983,538 | ||||||
Foreign currency, at valueb | 6,668,325 | 1,064,478 | ||||||
Cash | — | 255,846 | ||||||
Receivables: | ||||||||
Investment securities sold | 4,622,911 | 989,286 | ||||||
Interest | 4,058,626 | 1,430,345 | ||||||
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Total Assets | 259,797,874 | 103,723,493 | ||||||
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LIABILITIES | ||||||||
Payables: | ||||||||
Investment securities purchased | 8,840,569 | 1,087,242 | ||||||
Collateral for securities on loan (Note 1) | — | 12,098,750 | ||||||
Investment advisory fees (Note 2) | 78,344 | 30,213 | ||||||
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Total Liabilities | 8,918,913 | 13,216,205 | ||||||
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NET ASSETS | $ | 250,878,961 | $ | 90,507,288 | ||||
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Net assets consist of: | ||||||||
Paid-in capital | $ | 279,140,231 | $ | 94,395,605 | ||||
Undistributed net investment income | 353,859 | 477,151 | ||||||
Accumulated net realized loss | (7,819,503 | ) | (1,793,836 | ) | ||||
Net unrealized depreciation | (20,795,626 | ) | (2,571,632 | ) | ||||
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NET ASSETS | $ | 250,878,961 | $ | 90,507,288 | ||||
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Shares outstandingc | 5,200,000 | 1,800,000 | ||||||
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Net asset value per share | $ | 48.25 | $ | 50.28 | ||||
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a | Securities on loan with values of $ — and $11,652,857, respectively. See Note 1. |
b | Cost of foreign currency: $6,583,101 and $1,036,815, respectively. |
c | $0.001 par value, number of shares authorized: 500 million and 500 million, respectively. |
See notes to financial statements.
FINANCIAL STATEMENTS | 71 |
Table of Contents
Statements of Operations (Unaudited)
iSHARES®, INC.
Six months ended April 30, 2015
iShares Corporate Bond ETF | iShares High Yield Bond ETF | iShares Local Currency Bond ETF | ||||||||||
NET INVESTMENT INCOME | ||||||||||||
Interest — unaffiliateda | $ | 627,719 | $ | 6,186,664 | $ | 13,865,679 | ||||||
Interest — affiliated (Note 2) | 17 | 38 | 41 | |||||||||
Securities lending income — affiliated — net (Note 2) | 889 | — | — | |||||||||
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Total investment income | 628,625 | 6,186,702 | 13,865,720 | |||||||||
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EXPENSES | ||||||||||||
Investment advisory fees (Note 2) | 72,070 | 547,414 | 1,541,142 | |||||||||
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Total expenses | 72,070 | 547,414 | 1,541,142 | |||||||||
Less investment advisory fees waived (Note 2) | — | — | (177,866 | ) | ||||||||
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Net expenses | 72,070 | 547,414 | 1,363,276 | |||||||||
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Net investment income | 556,555 | 5,639,288 | 12,502,444 | |||||||||
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NET REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||
Net realized gain (loss) from: | ||||||||||||
Investments — unaffiliatedb | (46,473 | ) | (4,489,037 | ) | (31,121,437 | ) | ||||||
In-kind redemptions — unaffiliated | (298,590 | ) | (2,095,115 | ) | (869,168 | ) | ||||||
Foreign currency transactions | — | — | (2,554,526 | ) | ||||||||
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Net realized loss | (345,063 | ) | (6,584,152 | ) | (34,545,131 | ) | ||||||
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Net change in unrealized appreciation/depreciation on: | ||||||||||||
Investmentsc | 64,553 | (1,621,939 | ) | (13,390,580 | ) | |||||||
Translation of assets and liabilities in foreign currencies | — | — | 951,593 | |||||||||
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Net change in unrealized appreciation/depreciation | 64,553 | (1,621,939 | ) | (12,438,987 | ) | |||||||
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Net realized and unrealized loss | (280,510 | ) | (8,206,091 | ) | (46,984,118 | ) | ||||||
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NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 276,045 | $ | (2,566,803 | ) | $ | (34,481,674 | ) | ||||
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a | Net of foreign withholding tax of $ —, $ — and $509,154, respectively. |
b | Net of foreign capital gains taxes of $ —, $ — and $42,097, respectively. |
c | Net of deferred foreign capital gains taxes of $246, $4,151 and $222,101, respectively. |
See notes to financial statements.
72 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Statements of Operations (Unaudited) (Continued)
iSHARES®, INC.
Six months ended April 30, 2015
iShares Global ex USD High Yield Corporate Bond ETF | iShares Global High Yield Corporate Bond ETF | |||||||
NET INVESTMENT INCOME | ||||||||
Interest — unaffiliated | $ | 4,326,045 | $ | 2,563,484 | ||||
Interest — affiliated (Note 2) | 12 | 35 | ||||||
Securities lending income — affiliated — net (Note 2) | — | 26,141 | ||||||
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Total investment income | 4,326,057 | 2,589,660 | ||||||
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EXPENSES | ||||||||
Investment advisory fees (Note 2) | 565,569 | 255,195 | ||||||
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Total expenses | 565,569 | 255,195 | ||||||
Less investment advisory fees waived (Note 2) | (154,246 | ) | (69,599 | ) | ||||
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Net expenses | 411,323 | 185,596 | ||||||
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Net investment income | 3,914,734 | 2,404,064 | ||||||
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NET REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||
Net realized gain (loss) from: | ||||||||
Investments — unaffiliated | (6,001,668 | ) | (1,007,552 | ) | ||||
In-kind redemptions — unaffiliated | (927,539 | ) | (613,539 | ) | ||||
Foreign currency transactions | (764,066 | ) | (161,065 | ) | ||||
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Net realized loss | (7,693,273 | ) | (1,782,156 | ) | ||||
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Net change in unrealized appreciation/depreciation on: | ||||||||
Investments | (10,326,294 | ) | (1,951,675 | ) | ||||
Translation of assets and liabilities in foreign currencies | 203,635 | 54,788 | ||||||
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Net change in unrealized appreciation/depreciation | (10,122,659 | ) | (1,896,887 | ) | ||||
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Net realized and unrealized loss | (17,815,932 | ) | (3,679,043 | ) | ||||
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NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | (13,901,198 | ) | $ | (1,274,979 | ) | ||
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See notes to financial statements.
FINANCIAL STATEMENTS | 73 |
Table of Contents
Statements of Changes in Net Assets
iSHARES®, INC.
iShares Emerging Markets Corporate Bond ETF | iShares Emerging Markets High Yield Bond ETF | |||||||||||||||
Six months April 30, 2015 (Unaudited) | Year ended October 31, 2014 | Six months ended April 30, 2015 (Unaudited) | Year ended October 31, 2014 | |||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||
OPERATIONS: | ||||||||||||||||
Net investment income | $ | 556,555 | $ | 1,023,917 | $ | 5,639,288 | $ | 11,257,973 | ||||||||
Net realized loss | (345,063 | ) | (469,536 | ) | (6,584,152 | ) | (2,999,444 | ) | ||||||||
Net change in unrealized appreciation/depreciation | 64,553 | 704,330 | (1,621,939 | ) | 2,317,391 | |||||||||||
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Net increase (decrease) in net assets resulting from operations | 276,045 | 1,258,711 | (2,566,803 | ) | 10,575,920 | |||||||||||
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DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||||||||||
From net investment income | (530,792 | ) | (1,055,015 | ) | (5,922,676 | ) | (11,283,625 | ) | ||||||||
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Total distributions to shareholders | (530,792 | ) | (1,055,015 | ) | (5,922,676 | ) | (11,283,625 | ) | ||||||||
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CAPITAL SHARE TRANSACTIONS: | ||||||||||||||||
Proceeds from shares sold | 9,804,438 | 10,244,305 | 10,106,668 | 20,746,273 | ||||||||||||
Cost of shares redeemed | (4,926,214 | ) | (20,194,665 | ) | (38,241,930 | ) | (24,637,402 | ) | ||||||||
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Net increase (decrease) in net assets from capital share transactions | 4,878,224 | (9,950,360 | ) | (28,135,262 | ) | (3,891,129 | ) | |||||||||
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INCREASE (DECREASE) IN NET ASSETS | 4,623,477 | (9,746,664 | ) | (36,624,741 | ) | (4,598,834 | ) | |||||||||
NET ASSETS | ||||||||||||||||
Beginning of period | 25,591,124 | 35,337,788 | 199,005,091 | 203,603,925 | ||||||||||||
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End of period | $ | 30,214,601 | $ | 25,591,124 | $ | 162,380,350 | $ | 199,005,091 | ||||||||
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Undistributed net investment income included in net assets at end of period | $ | 101,539 | $ | 75,776 | $ | 702,588 | $ | 985,976 | ||||||||
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SHARES ISSUED AND REDEEMED | ||||||||||||||||
Shares sold | 200,000 | 200,000 | 200,000 | 400,000 | ||||||||||||
Shares redeemed | (100,000 | ) | (400,000 | ) | (800,000 | ) | (500,000 | ) | ||||||||
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Net increase (decrease) in shares outstanding | 100,000 | (200,000 | ) | (600,000 | ) | (100,000 | ) | |||||||||
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See notes to financial statements.
74 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Statements of Changes in Net Assets (Continued)
iSHARES®, INC.
iShares Emerging Markets Local Currency Bond ETF | iShares Global ex USD High Yield Corporate Bond ETF | |||||||||||||||
Six months ended April 30, 2015 | Year ended October 31, 2014 | Six months ended April 30, 2015 (Unaudited) | Year ended October 31, 2014 | |||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||
OPERATIONS: | ||||||||||||||||
Net investment income | $ | 12,502,444 | $ | 27,019,142 | $ | 3,914,734 | $ | 5,595,737 | ||||||||
Net realized gain (loss) | (34,545,131 | ) | (13,178,352 | ) | (7,693,273 | ) | 153,527 | |||||||||
Net change in unrealized appreciation/depreciation | (12,438,987 | ) | (23,280,344 | ) | (10,122,659 | ) | (13,719,685 | ) | ||||||||
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Net decrease in net assets resulting from operations | (34,481,674 | ) | (9,439,554 | ) | (13,901,198 | ) | (7,970,421 | ) | ||||||||
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DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||||||||||
From net investment income | (6,352,611 | ) | (15,780,076 | ) | (3,789,561 | ) | (5,709,258 | ) | ||||||||
From net realized gain | — | — | (91,364 | ) | — | |||||||||||
Return of capital | — | (318,883 | ) | — | — | |||||||||||
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Total distributions to shareholders | (6,352,611 | ) | (16,098,959 | ) | (3,880,925 | ) | (5,709,258 | ) | ||||||||
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CAPITAL SHARE TRANSACTIONS: | ||||||||||||||||
Proceeds from shares sold | 189,826,841 | 20,287,350 | 151,285,242 | 161,257,088 | ||||||||||||
Cost of shares redeemed | (100,217,735 | ) | (48,233,688 | ) | (25,451,152 | ) | (55,903,420 | ) | ||||||||
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Net increase (decrease) in net assets from capital share transactions | 89,609,106 | (27,946,338 | ) | 125,834,090 | 105,353,668 | |||||||||||
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INCREASE (DECREASE) IN NET ASSETS | 48,774,821 | (53,484,851 | ) | 108,051,967 | 91,673,989 | |||||||||||
NET ASSETS | ||||||||||||||||
Beginning of period | 584,856,720 | 638,341,571 | 142,826,994 | 51,153,005 | ||||||||||||
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End of period | $ | 633,631,541 | $ | 584,856,720 | $ | 250,878,961 | $ | 142,826,994 | ||||||||
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Undistributed net investment income included in net assets at end of period | $ | 6,149,833 | $ | — | $ | 353,859 | $ | 228,686 | ||||||||
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SHARES ISSUED AND REDEEMED | ||||||||||||||||
Shares sold | 4,200,000 | 400,000 | 3,000,000 | 2,800,000 | ||||||||||||
Shares redeemed | (2,200,000 | ) | (1,000,000 | ) | (500,000 | ) | (1,000,000 | ) | ||||||||
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Net increase (decrease) in shares outstanding | 2,000,000 | (600,000 | ) | 2,500,000 | 1,800,000 | |||||||||||
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See notes to financial statements.
FINANCIAL STATEMENTS | 75 |
Table of Contents
Statements of Changes in Net Assets (Continued)
iSHARES®, INC.
iShares Global High Yield Corporate Bond ETF | ||||||||
Six months ended April 30, 2015 | Year ended October 31, 2014 | |||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||
OPERATIONS: | ||||||||
Net investment income | $ | 2,404,064 | $ | 4,983,353 | ||||
Net realized gain (loss) | (1,782,156 | ) | 212,659 | |||||
Net change in unrealized appreciation/depreciation | (1,896,887 | ) | (3,142,613 | ) | ||||
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Net increase (decrease) in net assets resulting from operations | (1,274,979 | ) | 2,053,399 | |||||
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DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||
From net investment income | (2,305,855 | ) | (5,236,812 | ) | ||||
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Total distributions to shareholders | (2,305,855 | ) | (5,236,812 | ) | ||||
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CAPITAL SHARE TRANSACTIONS: | ||||||||
Proceeds from shares sold | 10,094,905 | 37,550,657 | ||||||
Cost of shares redeemed | (20,009,132 | ) | (5,258,227 | ) | ||||
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Net increase (decrease) in net assets from capital share transactions | (9,914,227 | ) | 32,292,430 | |||||
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INCREASE (DECREASE) IN NET ASSETS | (13,495,061 | ) | 29,109,017 | |||||
NET ASSETS | ||||||||
Beginning of period | 104,002,349 | 74,893,332 | ||||||
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End of period | $ | 90,507,288 | $ | 104,002,349 | ||||
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Undistributed net investment income included in net assets at end of period | $ | 477,151 | $ | 378,942 | ||||
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SHARES ISSUED AND REDEEMED | ||||||||
Shares sold | 200,000 | 700,000 | ||||||
Shares redeemed | (400,000 | ) | (100,000 | ) | ||||
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Net increase (decrease) in shares outstanding | (200,000 | ) | 600,000 | |||||
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See notes to financial statements.
76 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
iSHARES®, INC.
(For a share outstanding throughout each period)
iShares Emerging Markets Corporate Bond ETF | ||||||||||||||||
Six months ended Apr. 30, 2015 (Unaudited) | Year ended Oct. 31, 2014 | Year ended Oct. 31, 2013 | Period from to Oct. 31, 2012 | |||||||||||||
Net asset value, beginning of period | $ | 51.18 | $ | 50.48 | $ | 52.93 | $ | 50.00 | ||||||||
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Income from investment operations: | ||||||||||||||||
Net investment incomeb | 1.07 | 2.01 | 1.92 | 1.07 | ||||||||||||
Net realized and unrealized gain (loss)c | (0.86 | ) | 0.75 | (2.49 | ) | 2.76 | ||||||||||
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Total from investment operations | 0.21 | 2.76 | (0.57 | ) | 3.83 | |||||||||||
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Less distributions from: | ||||||||||||||||
Net investment income | (1.03 | ) | (2.06 | ) | (1.88 | ) | (0.90 | ) | ||||||||
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Total distributions | (1.03 | ) | (2.06 | ) | (1.88 | ) | (0.90 | ) | ||||||||
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Net asset value, end of period | $ | 50.36 | $ | 51.18 | $ | 50.48 | $ | 52.93 | ||||||||
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Total return | 0.43 | %d | 5.61 | % | (1.07 | )% | 7.75 | %d | ||||||||
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Ratios/Supplemental data: | ||||||||||||||||
Net assets, end of period (000s) | $ | 30,215 | $ | 25,591 | $ | 35,338 | $ | 21,170 | ||||||||
Ratio of expenses to average net assetse | 0.56 | % | 0.60 | % | 0.60 | % | 0.60 | % | ||||||||
Ratio of net investment income to average net assetse | 4.35 | % | 3.99 | % | 3.74 | % | 3.87 | % | ||||||||
Portfolio turnover ratef | 5 | % | 20 | % | 33 | % | 29 | % |
a | Commencement of operations. |
b | Based on average shares outstanding throughout each period. |
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 | Not annualized. |
e | Annualized for periods of less than one year. |
f | Portfolio turnover rates exclude portfolio securities received or delivered as a result of processing capital share transactions in Creation Units. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS | 77 |
Table of Contents
Financial Highlights (Continued)
iSHARES®, INC.
(For a share outstanding throughout each period)
iShares Emerging Markets High Yield Bond ETF | ||||||||||||||||
Six months ended Apr. 30, 2015 (Unaudited) | Year ended Oct. 31, 2014 | Year ended Oct. 31, 2013 | Period from to Oct. 31, 2012 | |||||||||||||
Net asset value, beginning of period | $ | 51.03 | $ | 50.90 | $ | 53.62 | $ | 50.02 | ||||||||
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Income from investment operations: | ||||||||||||||||
Net investment incomeb | 1.48 | 2.93 | 2.97 | 1.60 | ||||||||||||
Net realized and unrealized gain (loss)c | (1.76 | ) | 0.15 | (2.91 | ) | 3.40 | ||||||||||
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Total from investment operations | (0.28 | ) | 3.08 | 0.06 | 5.00 | |||||||||||
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Less distributions from: | ||||||||||||||||
Net investment income | (1.54 | ) | (2.95 | ) | (2.78 | ) | (1.40 | ) | ||||||||
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Total distributions | (1.54 | ) | (2.95 | ) | (2.78 | ) | (1.40 | ) | ||||||||
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Net asset value, end of period | $ | 49.21 | $ | 51.03 | $ | 50.90 | $ | 53.62 | ||||||||
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Total return | (0.46 | )%d | 6.24 | % | 0.14 | % | 10.21 | %d | ||||||||
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Ratios/Supplemental data: | ||||||||||||||||
Net assets, end of period (000s) | $ | 162,380 | $ | 199,005 | $ | 203,604 | $ | 166,231 | ||||||||
Ratio of expenses to average net assetse | 0.60 | % | 0.65 | % | 0.65 | % | 0.65 | % | ||||||||
Ratio of net investment income to average net assetse | 6.21 | % | 5.78 | % | 5.64 | % | 5.34 | % | ||||||||
Portfolio turnover ratef | 25 | % | 24 | % | 57 | % | 40 | % |
a | Commencement of operations. |
b | Based on average shares outstanding throughout each period. |
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 | Not annualized. |
e | Annualized for periods of less than one year. |
f | Portfolio turnover rates exclude portfolio securities received or delivered as a result of processing capital share transactions in Creation Units. |
See notes to financial statements.
78 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Financial Highlights (Continued)
iSHARES®, INC.
(For a share outstanding throughout each period)
iShares Emerging Markets Local Currency Bond ETF | ||||||||||||||||||||
Six months ended Apr. 30, 2015 (Unaudited) | Year ended Oct. 31, 2014 | Year ended Oct. 31, 2013 | Year ended Oct. 31, 2012 | Period from to Oct. 31, 2011 | ||||||||||||||||
Net asset value, beginning of period | $ | 48.74 | $ | 50.66 | $ | 51.94 | $ | 51.13 | $ | 49.85 | ||||||||||
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Income from investment operations: | ||||||||||||||||||||
Net investment incomeb | 1.04 | 2.26 | 2.07 | 2.31 | 0.02 | |||||||||||||||
Net realized and unrealized gain (loss)c | (3.99 | ) | (2.84 | ) | (1.92 | ) | 0.41 | 1.26 | ||||||||||||
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Total from investment operations | (2.95 | ) | (0.58 | ) | 0.15 | 2.72 | 1.28 | |||||||||||||
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Less distributions from: | ||||||||||||||||||||
Net investment income | (0.53 | ) | (1.31 | ) | (1.39 | ) | (0.81 | ) | — | |||||||||||
Return of capital | — | (0.03 | ) | (0.04 | ) | (1.10 | ) | — | ||||||||||||
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Total distributions | (0.53 | ) | (1.34 | ) | (1.43 | ) | (1.91 | ) | — | |||||||||||
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Net asset value, end of period | $ | 45.26 | $ | 48.74 | $ | 50.66 | $ | 51.94 | $ | 51.13 | ||||||||||
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Total return | (6.09 | )%d | (1.14 | )% | 0.28 | % | 5.48 | % | 2.57 | %d | ||||||||||
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Ratios/Supplemental data: | ||||||||||||||||||||
Net assets, end of period (000s) | $ | 633,632 | $ | 584,857 | $ | 638,342 | $ | 207,753 | $ | 30,681 | ||||||||||
Ratio of expenses to average net assetse | 0.50 | % | 0.59 | % | 0.60 | % | 0.60 | % | 0.60 | % | ||||||||||
Ratio of expenses to average net assets prior to waived feese | 0.57 | % | 0.60 | % | n/a | n/a | n/a | |||||||||||||
Ratio of net investment income to average net assetse | 4.59 | % | 4.56 | % | 4.04 | % | 4.57 | % | 1.21 | % | ||||||||||
Portfolio turnover ratef | 27 | % | 43 | % | 41 | % | 61 | % | 0 | % |
a | Commencement of operations. |
b | Based on average shares outstanding throughout each period. |
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 | Not annualized. |
e | Annualized for periods of less than one year. |
f | Portfolio turnover rates exclude portfolio securities received or delivered in Creation Units but include portfolio transactions that are executed as a result of the Fund processing capital share transactions in Creation Units partially for cash in U.S. dollars. Excluding such cash transactions, the portfolio turnover rates for the six months ended April 30, 2015, the years ended October 31, 2014, October 31, 2013 and October 30, 2012 were 20%, 36%, 39% and 61%, respectively. See Note 4. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS | 79 |
Table of Contents
Financial Highlights (Continued)
iSHARES®, INC.
(For a share outstanding throughout each period)
iShares Global ex USD High Yield Corporate Bond ETF | ||||||||||||||||
Six months ended Apr. 30, 2015 (Unaudited) | Year ended Oct. 31, 2014 | Year ended Oct. 31, 2013 | Period from to Oct. 31, 2012 | |||||||||||||
Net asset value, beginning of period | $ | 52.90 | $ | 56.84 | $ | 52.01 | $ | 50.14 | ||||||||
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Income from investment operations: | ||||||||||||||||
Net investment incomeb | 0.92 | 2.43 | 3.15 | 1.94 | ||||||||||||
Net realized and unrealized gain (loss)c | (4.61 | ) | (3.55 | ) | 4.51 | 1.18 | ||||||||||
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Total from investment operations | (3.69 | ) | (1.12 | ) | 7.66 | 3.12 | ||||||||||
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Less distributions from: | ||||||||||||||||
Net investment income | (0.94 | ) | (2.82 | ) | (2.83 | ) | (1.25 | ) | ||||||||
Net realized gain | (0.02 | ) | — | — | — | |||||||||||
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Total distributions | (0.96 | ) | (2.82 | ) | (2.83 | ) | (1.25 | ) | ||||||||
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Net asset value, end of period | $ | 48.25 | $ | 52.90 | $ | 56.84 | $ | 52.01 | ||||||||
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Total return | (7.01 | )%d | (2.20 | )% | 15.20 | % | 6.49 | %d | ||||||||
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Ratios/Supplemental data: | ||||||||||||||||
Net assets, end of period (000s) | $ | 250,879 | $ | 142,827 | $ | 51,153 | $ | 26,004 | ||||||||
Ratio of expenses to average net assetse | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | ||||||||
Ratio of expenses to average net assets prior to waived feese | 0.55 | % | 0.55 | % | 0.55 | % | 0.55 | % | ||||||||
Ratio of net investment income to average net assetse | 3.81 | % | 4.25 | % | 5.85 | % | 6.92 | % | ||||||||
Portfolio turnover ratef | 16 | % | 25 | % | 33 | % | 18 | % |
a | Commencement of operations. |
b | Based on average shares outstanding throughout each period. |
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 | Not annualized. |
e | Annualized for periods of less than one year. |
f | Portfolio turnover rates exclude portfolio securities received or delivered as a result of processing capital share transactions in Creation Units. |
See notes to financial statements.
80 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Financial Highlights (Continued)
iSHARES®, INC.
(For a share outstanding throughout each period)
iShares Global High Yield Corporate Bond ETF | ||||||||||||||||
Six months ended Apr. 30, 2015 (Unaudited) | Year ended Oct. 31, 2014 | Year ended Oct. 31, 2013 | Period from to Oct. 31, 2012 | |||||||||||||
Net asset value, beginning of period | $ | 52.00 | $ | 53.50 | $ | 51.67 | $ | 50.00 | ||||||||
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Income from investment operations: | ||||||||||||||||
Net investment incomeb | 1.29 | 2.84 | 3.05 | 1.82 | ||||||||||||
Net realized and unrealized gain (loss)c | (1.78 | ) | (1.28 | ) | 1.70 | 1.35 | ||||||||||
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Total from investment operations | (0.49 | ) | 1.56 | 4.75 | 3.17 | |||||||||||
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Less distributions from: | ||||||||||||||||
Net investment income | (1.23 | ) | (3.06 | ) | (2.92 | ) | (1.50 | ) | ||||||||
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Total distributions | (1.23 | ) | (3.06 | ) | (2.92 | ) | (1.50 | ) | ||||||||
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Net asset value, end of period | $ | 50.28 | $ | 52.00 | $ | 53.50 | $ | 51.67 | ||||||||
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Total return | (0.93 | )%d | 2.91 | % | 9.50 | % | 6.53 | %d | ||||||||
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Ratios/Supplemental data: | ||||||||||||||||
Net assets, end of period (000s) | $ | 90,507 | $ | 104,002 | $ | 74,893 | $ | 36,169 | ||||||||
Ratio of expenses to average net assetse | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | ||||||||
Ratio of expenses to average net assets prior to waived feese | 0.55 | % | 0.55 | % | 0.55 | % | 0.55 | % | ||||||||
Ratio of net investment income to average net assetse | 5.18 | % | 5.31 | % | 5.82 | % | 6.28 | % | ||||||||
Portfolio turnover ratef | 13 | % | 21 | % | 20 | % | 10 | % |
a | Commencement of operations. |
b | Based on average shares outstanding throughout each period. |
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 | Not annualized. |
e | Annualized for periods of less than one year. |
f | Portfolio turnover rates exclude portfolio securities received or delivered as a result of processing capital share transactions in Creation Units. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS | 81 |
Table of Contents
Notes to Financial Statements (Unaudited)
iSHARES®, INC.
iShares, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Company was incorporated under the laws of the State of Maryland on September 1, 1994 pursuant to Articles of Incorporation as subsequently amended and restated.
These financial statements relate only to the following funds (each, a “Fund,” and collectively, the “Funds”):
iShares ETF | Diversification Classification | |
Emerging Markets Corporate Bond | Non-diversified | |
Emerging Markets High Yield Bond | Non-diversified | |
Emerging Markets Local Currency Bond | Non-diversified | |
Global ex USD High Yield Corporate Bond | Non-diversified | |
Global High Yield Corporate Bond | Non-diversified |
The investment objective of each Fund is to seek investment results that correspond generally to the price and yield performance, before fees and expenses, of its underlying index. The investment adviser uses a “passive” or index approach to try to achieve each Fund’s investment objective.
Pursuant to the Company’s organizational documents, the Funds’ officers and directors are indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts with service providers that contain general indemnification clauses. The Funds’ maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred.
1. | SIGNIFICANT ACCOUNTING POLICIES |
The following significant accounting policies are consistently followed by the Funds in the preparation of their financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses 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.
SECURITY VALUATION
Each Fund’s investments are valued at fair value each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the Fund’s listing exchange is not open. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) provides oversight of the valuation of investments for the Funds. The investments of each Fund are valued pursuant to policies and procedures developed by the Global Valuation Committee and approved by the Board of Directors of the Company (the “Board”).
• | Fixed income investments are valued at the last available bid price received from independent pricing services. In determining the value of a fixed income investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrixes, market transactions in comparable investments, various relationships observed in the market between investments, and calculated yield measures. |
• | Open-end U.S. mutual funds are valued at that day’s published net asset value (“NAV”). |
82 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
In the event that application of these methods of valuation results in a price for an investment which is deemed not to be representative of the fair value of such investment or if a price is not available, the investment will be valued based upon other available factors deemed relevant by the Global Valuation Committee, in accordance with policies approved by the Board. These factors include but are not limited to (i) attributes specific to the investment; (ii) the principal market for the investment; (iii) the customary participants in the principal market for the investment; (iv) data assumptions by market participants for the investment, if reasonably available; (v) quoted prices for similar investments in active markets; and (vi) other factors, such as future cash flows, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and/or default rates. Valuations based on such factors are reported to the Board on a quarterly basis.
The Global Valuation Committee employs various methods for calibrating valuation approaches for investments where an active market does not exist, including regular due diligence of the Company’s pricing vendors, a regular review of key inputs and assumptions, transactional back-testing or disposition analysis to compare unrealized gains and losses to realized gains and losses, reviews of missing or stale prices, reviews of large movements in market values, and reviews of market related activity.
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.
Various inputs are used in determining the fair value of financial instruments. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for a financial instrument within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The categorization of a value determined for a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and is not necessarily an indication of the risk associated with investing in the instrument. The three levels of the fair value hierarchy are as follows:
• | Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities; |
• | Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and |
• | Level 3 — Unobservable inputs for the asset or liability, including the Global Valuation Committee’s assumptions used in determining the fair value of investments. |
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. In accordance with the Company’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period.
NOTESTO FINANCIAL STATEMENTS | 83 |
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
The following table summarizes the value of each of the Funds’ investments according to the fair value hierarchy as of April 30, 2015. The breakdown of each Fund’s investments into major categories is disclosed in its respective schedule of investments.
iShares ETF and | Investments | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Emerging Markets Corporate Bond | ||||||||||||||||
Assets: | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 28,113,995 | $ | — | $ | 28,113,995 | ||||||||
Foreign Government Obligations | — | 1,233,701 | — | 1,233,701 | ||||||||||||
Money Market Funds | 1,541,916 | — | — | 1,541,916 | ||||||||||||
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$ | 1,541,916 | $ | 29,347,696 | $ | — | $ | 30,889,612 | |||||||||
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Emerging Markets High Yield Bond | ||||||||||||||||
Assets: | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 73,152,631 | $ | — | $ | 73,152,631 | ||||||||
Foreign Government Obligations | — | 85,972,808 | — | 85,972,808 | ||||||||||||
Money Market Funds | 471,724 | — | — | 471,724 | ||||||||||||
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$ | 471,724 | $ | 159,125,439 | $ | — | $ | 159,597,163 | |||||||||
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Emerging Markets Local Currency Bond | ||||||||||||||||
Assets: | ||||||||||||||||
Foreign Government Obligations | $ | — | $ | 606,824,253 | $ | — | $ | 606,824,253 | ||||||||
Money Market Funds | 57,188 | — | — | 57,188 | ||||||||||||
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$ | 57,188 | $ | 606,824,253 | $ | — | $ | 606,881,441 | |||||||||
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Global ex USD High Yield Corporate Bond | ||||||||||||||||
Assets: | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 244,325,265 | $ | 0 | a | �� | $ | 244,325,265 | ||||||
Money Market Funds | 122,747 | — | — | 122,747 | ||||||||||||
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$ | 122,747 | $ | 244,325,265 | $ | 0 | a | $ | 244,448,012 | ||||||||
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Global High Yield Corporate Bond | ||||||||||||||||
Assets: | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 87,155,837 | $ | — | $ | 87,155,837 | ||||||||
Money Market Funds | 12,827,701 | — | — | 12,827,701 | ||||||||||||
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$ | 12,827,701 | $ | 87,155,837 | $ | — | $ | 99,983,538 | |||||||||
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a | Rounds to less than $1. |
SECURITY TRANSACTIONS AND INCOME RECOGNITION
Security transactions are accounted for on trade date. Realized gains and losses on investment transactions are determined using the specific identification method. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on the accrual basis.
84 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
FOREIGN CURRENCY TRANSLATION
The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates deemed appropriate by the investment adviser. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars on the respective dates of such transactions.
Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities. Such fluctuations are reflected by the Funds as a component of realized and unrealized gains and losses from investments for financial reporting purposes.
FOREIGN TAXES
The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in their statements of operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as “other foreign taxes,” and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of April 30, 2015, if any, are disclosed in the Funds’ statements of assets and liabilities.
DISTRIBUTIONS TO SHAREHOLDERS
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.
LOANS OF PORTFOLIO SECURITIES
Each Fund may lend its investment securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by a bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current value of the loaned securities plus the interest accrued on such securities, if any, for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter, at a value equal to at least 100% of the current value of the securities on loan plus accrued interest, if any. The market value of the loaned securities is determined at the close of each business day of the Funds and any additional required collateral is delivered to the Funds on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.
Any cash received as collateral for securities on loan may be reinvested in certain short-term instruments either directly on behalf of a fund or through one or more joint accounts or money market funds, including those managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, or its affiliates. As of April 30, 2015, any securities on loan were collateralized by cash. The cash collateral received was invested in money market funds managed by BFA and is disclosed in the schedules of investments. The value of any securities on loan as of April 30, 2015 and the value of the related collateral are disclosed in the statements of assets and liabilities. Income earned by the Funds from securities lending is disclosed in the statements of operations.
NOTESTO FINANCIAL STATEMENTS | 85 |
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, the Funds benefit from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of securities lent. Each Fund could suffer a loss if the value of the investments purchased with cash collateral falls below the value of the cash collateral received.
Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (“MSLA”) which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, a Fund, as lender, would offset the market value of the collateral received against the market value of the securities loaned. The value of the collateral is typically greater than that of the market value of the securities loaned, leaving the lender with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, the borrower can resell or re-pledge the loaned securities, and a Fund can reinvest cash collateral, or, upon an event of default, resell or re-pledge the collateral.
The following table is a summary of each Fund’s securities lending agreements which are subject to offset under an MSLA as of April 30, 2015:
iShares ETF | Market Value of Securities on Loan | Cash Collateral Received a | Net Amount | |||||||||
Emerging Markets Corporate Bond | $ | 1,069,033 | $ | 1,069,033 | $ | — | ||||||
Global High Yield Corporate Bond | 11,652,857 | 11,652,857 | — |
a | Collateral received in excess of the market value of securities on loan is not presented for financial reporting purposes. The total collateral received is disclosed in each Fund’s statement of assets and liabilities. |
RECENT ACCOUNTING STANDARD
In June 2014, the Financial Accounting Standards Board issued guidance to improve the financial reporting of reverse repurchase agreements and other similar transactions. The guidance will require expanded disclosure for entities that enter into reverse repurchase agreements and similar transactions accounted for as secured borrowings, including securities lending. The guidance is effective for financial statements for fiscal years beginning after December 15, 2014, and interim periods within those fiscal years. Management is evaluating impact, if any, of this guidance on the Funds’ financial statements and disclosures.
2. | INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Pursuant to an Investment Advisory Agreement with the Company, BFA manages the investment of each Fund’s assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except interest, taxes, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution fees, litigation expenses and any extraordinary expenses.
BFA has entered into a sub-advisory agreement with BlackRock International Limited, (the “Sub-Advisor”), an affiliate of BFA, under which BFA pays the Sub-Advisor for services it provides to the iShares Emerging Markets Local Currency Bond ETF, iShares Global ex USD High Yield Corporate Bond ETF and iShares Global High Yield Corporate Bond ETF.
86 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
Table of Contents
Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
Effective March 2, 2015, for its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee based on the average daily net assets of each Fund as follows:
iShares ETF | Investment Advisory Fee | |||
Emerging Markets Corporate Bond | 0.50 | % | ||
Emerging Markets High Yield Bond | 0.50 |
Prior to March 2, 2015, for its investment advisory services to the iShares Emerging Markets Corporate Bond ETF and iShares Emerging Markets High Yield Bond ETF, BFA was entitled to an annual investment advisory fee of 0.60% and 0.65%, respectively, based on the average daily net assets of each Fund.
Effective March 2, 2015, for its investment advisory services to the iShares Emerging Markets Local Currency Bond ETF, BFA is entitled to an annual investment advisory fee of 0.50% based on the average daily net assets of the Fund. Prior to March 2, 2015, for its investment advisory services to the Fund, BFA was entitled to an annual investment advisory fee of 0.60% based on the average daily net assets of the Fund. For the six months ended April 30, 2015, BFA has voluntarily waived a portion of its investment advisory fees for the Fund in the amount of $177,866.
For its investment advisory services to each of the iShares Global ex USD High Yield Corporate Bond and iShares Global High Yield Corporate Bond ETFs, BFA is entitled to an annual investment advisory fee of 0.55% based on the average daily net assets of each Fund. The total of the investment advisory fee and any other fund expenses is a fund’s total annual operating expense. BFA has contractually agreed to waive a portion of its investment advisory fees for each Fund through February 29, 2016 in order to limit total annual operating expenses to 0.40% of average daily net assets.
The U.S. Securities and Exchange Commission has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. (“BTC”), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan in a money market fund managed by BFA, however, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04% (the “collateral investment fees”). Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment fees. The Funds retain a portion of securities lending income and remit the remaining portion to BTC as compensation for its services as securities lending agent.
Pursuant to a securities lending agreement, each Fund retains 80% of securities lending income and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees. In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in a given calendar year exceeds the aggregate securities lending income generated across the iShares ETF Complex in the calendar year 2013, each Fund, pursuant to a securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
Prior to January 1, 2015, each Fund retained 75% of securities lending income and the amount retained was never less than 70% of the total of securities lending income plus the collateral investment fees. In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across the iShares ETF Complex in the calendar year 2014 exceeded the aggregate securities lending income generated across the iShares ETF Complex in the calendar year 2013 and pursuant to a securities lending agreement, each Fund retained for the remainder of the
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Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
calendar year 2014, 80% of securities lending income and the amount retained was never less than 70% of the total of securities lending income plus the collateral investment fees.
For the six months ended April 30, 2015, each Fund paid to BTC the following amounts in total for securities lending agent services and collateral investment fees:
iShares ETF | Fees Paid to BTC | |||
Emerging Markets Corporate Bond | $ | 340 | ||
Global High Yield Corporate Bond | 9,125 |
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.
Cross trades for the six months ended April 30, 2015, if any, were executed by the Funds pursuant to Rule 17a-7 under the 1940 Act. 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.
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 included in “Interest – affiliated” in the statements of operations.
The PNC Financial Services Group, Inc. is the largest stockholder of BlackRock and is considered to be an affiliate of the Funds for 1940 Act purposes.
Certain directors and officers of the Company are also officers of BTC and/or BFA.
3. | INVESTMENT PORTFOLIO TRANSACTIONS |
Purchases and sales of investments (excluding in-kind transactions and short-term investments) for the six months ended April 30, 2015 were as follows:
iShares ETF | Purchases | Sales | ||||||
Emerging Markets Corporate Bond | $ | 5,730,623 | $ | 1,178,872 | ||||
Emerging Markets High Yield Bond | 45,436,389 | 45,438,469 | ||||||
Emerging Markets Local Currency Bond | 214,545,817 | 141,134,653 | ||||||
Global ex USD High Yield Corporate Bond | 157,373,991 | 32,964,754 | ||||||
Global High Yield Corporate Bond | 16,162,914 | 12,244,186 |
In-kind transactions (see Note 4) for the six months ended April 30, 2015 were as follows:
iShares ETF | In-kind Purchases | In-kind Sales | ||||||
Emerging Markets Corporate Bond | $ | 4,672,968 | $ | 4,666,607 | ||||
Emerging Markets High Yield Bond | 9,761,720 | 36,924,773 | ||||||
Emerging Markets Local Currency Bond | 24,129,586 | 24,519,913 | ||||||
Global ex USD High Yield Corporate Bond | 22,699,693 | 23,367,752 | ||||||
Global High Yield Corporate Bond | 4,739,601 | 18,928,625 |
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Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
4. | CAPITAL SHARE TRANSACTIONS |
Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the statements of changes in net assets.
The consideration for the purchase of Creation Units of a fund in the Company generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Company 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 Company’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 “Proceeds from shares sold” in the statements of changes in net assets.
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 contributions are reflected as “Due from custodian” and securities related to in-kind redemptions are reflected as “Securities related to in-kind transactions” in the statements of assets and liabilities.
5. | MARKET AND CREDIT RISK |
In the normal course of business, each Fund’s investment activities expose it to various types of risk associated with the financial instruments and markets in which it invests. The significant types of financial risks each Fund is exposed to include market risk and credit risk. Each Fund’s prospectus provides details of these and other types of risk.
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
Market risk arises mainly from uncertainty about future values of financial instruments influenced by price, currency and interest rate movements. It represents the potential loss each Fund may suffer through holding market positions in the face of market movements. Each Fund is exposed to market risk by virtue of its investment in fixed income instruments. The fair value of securities held by the Funds may decline due to general market conditions, economic trends or events that are not specifically related to the issuers of the securities including local, regional or global political, social or economic instability or to factors that affect a particular industry or group of industries. The extent of each Fund’s exposure to market risk is the market value of the investments held as shown in the Fund’s schedule of investments.
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.
Each Fund invests a substantial amount of its assets in securities of non-U.S. issuers that trade in non-U.S. markets. This involves certain considerations and risks not typically associated with securities of U.S. issuers. Such risks include, but are not limited to: generally less liquid and less efficient securities markets; generally greater price volatility; exchange rate fluctuations and exchange controls; imposition of restrictions on the expatriation of funds or other assets of the Fund; less publicly available
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Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
information about issuers; the imposition of withholding or other taxes; higher transaction and custody costs; settlement delays and risk of loss attendant in settlement procedures; difficulties in enforcing contractual obligations; less regulation of securities markets; different accounting, disclosure and reporting requirements; more substantial governmental involvement in the economy; higher inflation rates; greater social, economic and political uncertainties; the risk of nationalization or expropriation of assets; and the risk of war. These risks are heightened for investments in issuers from countries with less developed markets.
The United States and the European Union, along with the regulatory bodies of a number of countries including Japan, Australia and Canada (collectively, “Sanctioning Bodies”), have imposed sectorial economic sanctions on certain Russian individuals and Russian corporate entities which include prohibitions on transacting in or dealing in new debt of longer than 30 or 90 days maturity or new equity of such issuers. Securities held by the iShares Emerging Markets Corporate Bond ETF, iShares Emerging Markets High Yield Bond ETF and iShares Emerging Markets Local Currency Bond ETF issued prior to the date of the sanctions being imposed are not currently subject to any restrictions under the sanctions. However, compliance with each of these sanctions may impair the ability of a Fund to buy, sell, hold, receive or deliver the affected securities or other securities of such issuers. The Sanctioning Bodies could also institute broader sanctions on Russia. These sanctions, or even the threat of further sanctions, may result in the decline of the value and liquidity of Russian securities, a weakening of the ruble or other adverse consequences to the Russian economy. Current or future sanctions may result in Russia taking counter measures or retaliatory actions, which may further impair the value and liquidity of Russian securities. These retaliatory measures may include the immediate freeze of Russian assets held by a Fund.
Each Fund invests a substantial amount of its assets in fixed-income securities. Changes in market interest rates or economic conditions, including the decision in December 2013 by the Federal Reserve Bank to taper its quantitative easing policy, may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. Securities with longer durations tend to be more sensitive to interest rate changes, usually making them more volatile than securities with shorter durations. Given the environment of historically low interest rates, each Fund may be subject to a greater risk of price losses if interest rates rise.
CREDIT RISK
Credit risk is the risk that an issuer or guarantor of debt instruments or the counterparty to a financial transaction, including derivatives contracts, repurchase agreements or loans of portfolio securities, is unable or unwilling to make timely interest and/or principal payments or to otherwise honor its obligations. BFA and its affiliates manage counterparty credit risk by entering into transactions only with counterparties that they believe 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 issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of each Fund’s exposure to credit and counterparty risks with respect to those financial assets is approximated by their value recorded in its statement of assets and liabilities.
Each Fund invests a substantial portion of its assets in high yield securities that are rated below investment-grade (including those bonds rated lower than “BBB- “ by Standard & Poor’s Ratings Services and Fitch or “Baa3” by Moody’s), or are unrated which may be more volatile than higher-rated securities of similar maturity. High yield securities may also be subject to greater levels of credit or default risk than higher-rated securities and high yield securities may be less liquid and more difficult to sell at an advantageous time or price or to value than higher-rated securities. In particular, high yield securities are often issued by smaller, less creditworthy companies or by highly leveraged (indebted) companies, which are generally less able than more financially stable companies to make scheduled payments of interest and principal.
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Notes to Financial Statements (Unaudited) (Continued)
iSHARES®, INC.
6. | INCOME TAX INFORMATION |
Each Fund is treated as an entity separate from the Company’s other funds for federal income tax purposes. It is the policy of each Fund to qualify as a regulated investment company by complying with the provisions applicable to regulated investment companies, as defined under Subchapter M of the Internal Revenue Code of 1986, as amended, and to annually distribute substantially all of its ordinary income and any net capital gains (taking into account any capital loss carryforwards) sufficient to relieve it from all, or substantially all, federal income and excise taxes. Accordingly, no provision for federal income taxes is required.
For purposes of U.S. GAAP, 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 NAV per share.
The tax character of current year distributions will be determined at the end of the current fiscal year.
As of October 31, 2014, the Funds’ fiscal year-end, the following Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:
iShares ETF | Non- Expiring | |||
Emerging Markets Corporate Bond | $ | 262,109 | ||
Emerging Markets High Yield Bond | 8,103,223 | |||
Emerging Markets Local Currency Bond | 5,235,569 | |||
Global High Yield Corporate Bond | 11,224 |
As of April 30, 2015, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:
iShares ETF | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
Emerging Markets Corporate Bond | $ | 31,108,373 | $ | 514,178 | $ | (732,939 | ) | $ | (218,761 | ) | ||||||
Emerging Markets High Yield Bond | 167,482,597 | 5,427,781 | (13,313,215 | ) | (7,885,434 | ) | ||||||||||
Emerging Markets Local Currency Bond | 660,497,472 | 11,045,569 | (64,661,600 | ) | (53,616,031 | ) | ||||||||||
Global ex USD High Yield Corporate Bond | 265,401,311 | 1,139,833 | (22,093,132 | ) | (20,953,299 | ) | ||||||||||
Global High Yield Corporate Bond | 102,577,886 | 1,348,207 | (3,942,555 | ) | (2,594,348 | ) |
Management has analyzed tax laws and regulations and their application to the Funds as of April 30, 2015, inclusive of the open tax return years, and does not believe there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.
7. | SUBSEQUENT EVENTS |
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.
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Supplemental Information (Unaudited)
iSHARES®, INC.
Section 19(a) Notices
The amounts and sources of distributions reported are estimates and are provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on the tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report distributions for federal income tax purposes.
Total Cumulative Distributions for the Fiscal Year-to-Date | % Breakdown of the Total Cumulative Distributions for the Fiscal Year-to-Date | |||||||||||||||||||||||||||||||
iShares ETF | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share | ||||||||||||||||||||||||
Emerging Markets Corporate Bond | $ | 1.012114 | $ | — | $ | 0.013405 | $ | 1.025519 | 99 | % | — | % | 1 | % | 100 | % | ||||||||||||||||
Emerging Markets High Yield Bond | 1.513028 | — | 0.028590 | 1.541618 | 98 | — | 2 | 100 | ||||||||||||||||||||||||
Emerging Markets Local Currency Bond | — | — | 0.526886 | 0.526886 | — | — | 100 | 100 | ||||||||||||||||||||||||
Global ex USD High Yield Corporate Bond | 0.285384 | 0.025379 | 0.652911 | 0.963674 | 29 | 3 | 68 | 100 | ||||||||||||||||||||||||
Global High Yield Corporate Bond | 1.056981 | — | 0.168977 | 1.225958 | 86 | — | 14 | 100 |
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Notes:
NOTES | 93 |
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Notes:
94 | 2015 iSHARES SEMI-ANNUAL REPORTTO SHAREHOLDERS |
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For more information visit www.iShares.com or call 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 Markit Indices Limited or Morningstar, Inc., nor are they sponsored, endorsed or issued by Barclays Capital Inc. None of these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.
A description of the policies that the Funds use to determine how to vote proxies relating to portfolio securities and information about how the Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request, by calling toll-free 1-800-474-2737; on the Funds’ website at www.iShares.com; and on the U.S. Securities and Exchange Commission (SEC) website at www.sec.gov.
The Funds file their complete schedules of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the SEC’s website or may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Funds also disclose their complete schedules of portfolio holdings on a daily basis on the Funds’ website.
©2015 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.
iS-SAR-102-0415
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Item 2. Code of Ethics.
Not applicable to this semi-annual filing.
Item 3. Audit Committee Financial Expert.
Not applicable to this semi-annual filing.
Item 4. Principal Accountant Fees and Services.
Not applicable to this semi-annual filing.
Item 5. Audit Committee of Listed Registrants.
Not applicable to this semi-annual filing.
Item 6. Investments.
(a) | Schedules of investments are included as part of the reports to shareholders filed under Item 1 of this Form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to the Registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to the Registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to the Registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Directors.
Item 11. Controls and Procedures.
(a) | The President (the Registrant’s Principal Executive Officer) and Chief Financial Officer (the Registrant’s Principal Financial Officer) have concluded that, based on their evaluation as of a date within 90 days of the filing date of this report, the disclosure controls and procedures of the Registrant (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are reasonably designed to achieve the purposes described in Section 4(a) of the attached certification. |
(b) | There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
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Item 12. Exhibits.
(a) (1) Not applicable to this semi-annual filing.
(a) (2) Section 302 Certifications are attached.
(a) (3) Not applicable to the Registrant.
(b) Section 906 Certifications are attached.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
iShares, Inc.
By: | /s/ Manish Mehta | |
Manish Mehta, President (Principal Executive Officer) |
Date: June 26, 2015
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: | /s/ Manish Mehta | |
Manish Mehta, President (Principal Executive Officer) |
Date: June 26, 2015
By: | /s/ Jack Gee | |
Jack Gee, Treasurer and Chief Financial Officer (Principal Financial Officer) |
Date: June 26, 2015